Bacchus And Ariadne

Here, to create drama and depth, the warm hues of Aridness hair are contrasted against the white and pale blue of the sky in the background. Complimentary colors (inside Art', 2014), the rich red and blue of her gown and sash are juxtaposition's and contrasted against the pale colder greens and blues, which form the sea and landscape behind her, creating an aerial perspective (inside Art', 2014). Her face, now turned to Bacchus, is tinged with uncertainty, yet still mourning, her body and up-raised hand gesture towards the sea. Over her left shoulder is the fleeing ship of err husband Theses, who has cruelly abandoned her.However, above her head, the constellation Bacchus has promised her is a token of a happier future. Arid one's gaze directs us to the central figure of the God of wine, who, instantly enthralled by her, is depicted leaping from his chariot. In this vivid rectangle of imagery, the viewer is reminded of the past, present and the future of the unfolding story. The clas sically posed figures of Ridden and Bacchus are created using identical modeling (inside Art', 2014) techniques. Shading and glazing (Nationally, n. D. ) create the luminescence of their pale kin tone.However, most striking is Bacchus' flowing vermilion gown, which mimics the intensity of his passionate expression. To create such a dramatic depiction, Titian has employed a narrow tonal range (inside Art', 2014) and shading to highlight the striking vermilion hues, which he then contrasts against the ultramarine of the sky. These dramatic effects project the God towards the viewer, thus extending the picture plane outwards. Other devices are incorporated to keep the eye moving through the composition. Between Bacchus and Ridden, two cheetahs mimic the central subjects as hey gaze at each other half cast in the shadow.Below Aridness feet, a discarded white robe and amphora distract the gaze. Color is employed to drawn the eye away from the left of the picture space to the right, where three figures form a triangular focal point. Central to this is a nymph clashing cymbals together, her gown of complimentary hues of real and ultramarine are juxtaposition's; to her left, the faun, dragging the decapitated head Of a deer, stares out mischievously through the picture plane, and the last of the trio is the shaded muscular figure entwined with rotting snakes.

Assigning Evaluation and Management Essay

Individual Assigning Evaluation and Management (E/M) Codes 1. Initial consultation for a 78-year-old woman with unexplained weight loss, abdominal pain, and rectal bleeding. Comprehensive history and examination performed. 99205 This history and examination were comprehensive and dealt with several body systems, so 99205 is the better E/M code to use. 2. 30-year-old patient presents complaining of flu-like symptoms characterized by unremitting cough, sinus pain, and thick nasal discharge. Examination reveals bronchitis and sinus infection. Patient is prescribed a five-day course of Zithromax. 99202 The case does not distinguish whether the patient was a new or an established patient. Without this knowledge, I would use the code 99202. 3. Established patient on Lithium presents for routine blood work to monitor therapeutic levels and kidney function. Nurse reviews the results and advises the patient that tests are normal and no change in dosage is indicated. 99211 This patient is an existing patient with an established history, so 99211 is the proper E/M code to use. 4. 62-year-old diabetic female presents for check-up and dressing change of wound on left foot. Examination reveals that the wound is healing. Nurse applied new dressing and patient will return for check-up in one week. 99212 I have selected 99212 because the patient has diabetes and is there for a routine check-up and dressing change. Because the wound is healing and the patient will return for another check-up, 99212 is the best/M code. 5. A mother brings in her six-month-old male child for routine wellness check. Examination reveals the child to be in good health and making adequate progress. 99215 This is a routine wellness check, which is an extensive visit to ensure the baby is doing well and continues developing on schedule.

Anne Aylor Case

Anne Aylor, Inc. Determination of Planning Materiality and Tolerable Misstatement MARKS. BEASLEY · FRANK A. BucKLEss  ·STEVEN M. GLOVER · DouGLAS F. PRAWITT LEARNING OBJECTIVES After completing and discussing this case you should be able to [1] [2] Determine planning materiality for an audit client Provide support for your materiality decisions [3] Allocate planning materiality to financial statement elements INTRODUCTION j– Anne Aylor, Inc. (Anne Aylor) is a leading national specialty retailer ofhigh-qualitywomen's apparel, shoes, and accessories sold primarily under the â€Å"Anne Aylor† brand name.Anne Aylor is a highly __ recognized national brand that defin_s_a _ e dis_tin_t_ c fashion_point of v:iew. –. Anne Aylor merchandise represents classic styles, updated to reflect current fashion trends. Company stores offer a full range of career and casual separates, dresses, tops, weekend wear, shoes and accessories coordinated as part of a total wardrobing strategy. The company places a significant emphasis on customer service. Company sales associates are trained to assist customers in merchandise selection and wardrobe coordination, helping them achieve the â€Å"Anne Aylor† look while maintaining the customers' personal styles.The company follows the standard fiscal year of the retail industry, which is a 52-or 53week period ending on the Saturday closest to January 31 of the following year. Net revenue for the year ended January 291 2011 (referred to as fiscal2011) was $1. 4 billion and net income was $58 million. At the end of fiscal 2011, the company operated approximately 584 retail stores located in 46 states under the name Anne Aylor. The company's core business focuses on relatively affluent, fashion-conscious professional women with limited shopping time.Substantially all of the company's merchandise is developed in-house by its product design and development teams. Production of merchandise is sourced to 131 indepen dent manufacturers located in 19 countries. Approximately 45 percent; 16 percent, 13 percent, 12 percent, and 9 percent of the company's merchandise is manufactured in China, Philippin~s, Indonesia, India, and Vietnam, respectively. Merchandise is distributed to the company's retail stores through a single distribution center, located in Louisville, Kentucky.Anne Aylor stock trades on The New York Stock Exchange and Anne Aylor is required to have an integrated audit of its consolidated financial statements and its internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (United States). As of the close of business on March 11, 2011 Anne Aylor had 48,879,663 shares of common stock outstanding with a trading price of $22. 57. The case was prepared by MarkS. Beasley, Ph. D. and Frank A. Buckless, Ph. D. f North Carolina State University and Steven M. Glover, Ph. D. and Douglas F. Prawitt, Ph. D. of Brigham Young Univers ity, as a basis for class discussion. Anne Aylor, Inc. is a fictitious company. All characters and names represented are fictitious; any similarity to existing companies or persons is purely coincidental. From Case 7. 1 of Auditing Cases: An Interactive Learning Approach. Fifth Edition. Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt. Copyright e 2012 by Pearson Education, Inc. Published by Prentice Hall.All rights reserved 77 Anne Aylor, Inc. BACKGROUND Your firm, Smith and Jones, PA. , is in the initial planning phase for the fiscal 2012 audit of Anne Aylor, Inc. (i. e. , the audit for the year that will end on January 28, 2012). As the audit manager, you have been assigned responsibility for determining planning materiality and tolerable misstatement for key financial statement accounts. Your firm's materiality and tolerable misstatement guidelines have been provided to assist you with this assignment (see Exhibit 1).Donna Fontain, the audit partner, has performed a preliminary analysis of the company and its performance and believes the likelihood of management fraud is low. Donna's initial analysis of the company's performance is documented in the memo referenced as G-3 (top right hand comer of the document). Additionally, Donna has documented current events/issues noted while performing the preliminary analysis in a separate memo, G-4. You have recorded the audited fiscal 2011 and projected fiscal20 12 fmancial statement numbers on audit schedule G-7.The company's accounting policies are provided in Exhibit 2. Assume no material misstatements were discovered during the fiscal 2011 audit. REQUIRED [1] Review Exhibits 1 and 2; audit memos G-3, and G-4i and audit schedules G-5, G-6 and G-7. Based on your review, answer each of the following questions: [a] [b] [c) [d) [e) [f) [g) [2) Why are different materiality bases considered when determining planning materiality? Why are different materiality thresholds relevant for different au dit engagements?Why is the materiality base that results in the smallest threshold generally used for planning purposes? Why is the risk of management fraud considered when determining tolerable misstatement? Why might an auditor not use the same tolerable misstatement amount or percentage of account balance for all fmancial statement accounts? Why does the combined total of individual account tolerable misstatements commonly exceed the estimate of planning materiality? Why might certain trial balance amounts be projected when considering planning materiality?Based on your review of the Exhibits ( 1 and 2) 1 audit memos ( G-3, and G-4), and audit schedules ( G-5, G 6-1, and G 6-2), complete audit schedules G-5, G-6 and G-7. 78 Anne Aylor, In(. EXHIBIT 1 Smith and Jones, PA. Polley Statement: Planning Materiality This policy statement provides general guidelines for firm personnel when establishing planning materiality and tolerable misstatement for purposes of determining the nature , timing, and extent of audit procedures. The intent of this policy statement is not to suggest that these materiality guidelines must be followed on all audit engagements.The appropriateness of these materiality guidelines must be determined on an engagement by engagement basis, using professional judgment. Planning Materiality Guidelines Planning materiality represents the maximum, combined financial statement misstatement or omission that could occur before Influencing the decisions of reasonable individuals relying on the financial. statements. The magnitude and nature of financial statement misstatements or omissions will not have the same influence on all financial statement users.For example, a 5 percent misstatement with current assets may be more relevant for a creditor than a stockholder, while a 5 percent misstatement with net income before Income taxes may be more relevant for a stockholder ttian a creditor. Therefore, the primary consideration when determining materiali ty Is the expected users of the financial statements. Relevant financial statement elements and presumptions on the effect of combined misstatements or omissions that would be considered Immaterial and material are provided below: †¢ Net Income-Before-Income Taxes –  ·combined misstatements or omissions less than 2 percent of..  ·- Net Income Before Income Taxes are presumed to be immaterial and combined misstatements or - ·Ã‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- omissions-greater than ·7†³percenfare-pfes-umecrtob8 ·-material. -(Note: Net lncome.. Befofe.. lncome______ .. Taxes may not be an appropriate base If the clienrs Net Income Before Income Taxes is substantially below other companies of equal size or Is highly variable. ) †¢ Net Revenue – combined misstatements or omissions less than 0. 5 percent of Net Revenue are presumed to be Immaterial, and combined misstatements or omissions greater than 2 percent are presumed to be material. Curren t Assets – combined misstatements or omissions less than 2 percent of Current Assets are presumed to be immaterial, and combin9d misstatements or omissions greater than 7 percent are presumed to be material. †¢ Current Liabilities – combined misstatements or omissions less than 2 percent of Current Uabilities are presumed to be immaterial and combined misstatements or omissions greater than 7 percent are presumed to be material. †¢ Total Assets- combined misstatements or omissions less than 0. percent of Total Assets are presumed to be immaterial, and combined misstatements or omissions greater than 2 percent are presumed to be material. (Note: Total Assets may not be an appropriate base for service organizations or other organizations that have few operating assets. ) The specific amounts established for each financial statement element must be determined by considering the primary users as well as qualitative factors. For example, if the client is close to violating the minimum current ratio requirement for a loan agreement, a smaller planning materiality amount should be used for current assets and liabilities.Conversely, if the client is substantially above the minimum current ratio requirement for a loan agreement, n would be reasonable to use a higher planning materiality amount for current assets and current liabilnies. Planning materiality should be based on the smallest amount established from relevant materiality bases to provide reasonable assurance that the financial statements, taken as a whole, are not materially misstated for any user. Anne Aylor, Inc.Tolerable Misstatement Guidelines In addition to establishing materiality for the overall financial statements, materiality for individual financial statement accounts should be established. The amount established for individual accounts is referred to as â€Å"tolerable misstatement. † Tolerable misstatement represents the amount individual financial statement accoun ts can differ from their true amount without affecting the fair presentation of the financial statements taken as a whole. Establishment of tolerable misstatement for individual accounts enables the auditor to design and execute an audn strategy for each audit cycle.The objective in setting tolerable misstatement for individual financial statement accounts is to provide reasonable assurance that the financial statements taken as a whole are fairly presented in all material respects at the lowest cost. To provide reasonable assurance that the financial statements taken as a whole do not contain material misstatements, the tolerable misstatement established for individual financial statement accounts should not exceed 75 percent of planning materiality. The percentage threshold should be lower as the expectation for management fraud increases.In many audits it is reasonable to expect that individual financial accounts misstatements identified will be less than tolerable misstatement a nd that misstatements across accounts will offset each other (some identified misstatements will overstate net income and some identHied misstatements will understate net income). This expectation is not reasonable when the likelihood of management fraud is hi,gh. If management is intentionally trying to misstate the financial statements, it is likely that misstatements will be systematically biased in one direction across accounts.The tolerable misstatement percentage threshold should not exceed:- — — —— ·- · - · – ·Ã¢â‚¬â€œ —- —- ·Ã¢â‚¬â€œ — – –  ·- ·  ·Ã¢â‚¬â€ —- ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Ã‚ ·- – ——7-5-percent-of-planning materJality-if low-likelihood-otmanagementfraud —————- _– ·- ·-  ·- - · - ·Ã¢â‚¬â€œÃ‚ ·- · . †¢ 50 percent of planning materiality if reasonably low likelihood of management fraud, and †¢ 25 percent of planning materiality if moderate likelihood of management fraud Finally a lower tolerable misstatement may be required for specific accounts because of the relevance of the account to users.Tolerable misstatement for a specific account should not exceed that amount that would influence the decision of reasonable users. Approved: April 24, 2009 80 Anne Aylor, Inc. EXHIBIT 2 Anne Aylor, Inc. Accounting Policies Revenue Recognition -The Company records revenue as merchandise is sold to clients. The Company's policy with respect to gift certificates and gift cards is to record revenue as they are redeemed for merchandise. Prior to their redemption, these gift certificates and gift cards are recorded as a liability.While the Company honors all gift certificates and gift cards presented for payment, management reviews unclaimed property laws to determine gift certificate and gift card balances required for escheatment to the appropriate government agency. Amounts related to shi pping and handling billed to clients in a sales transaction are classified as revenue and the costs related to shipping product to clients are classified as cost of sales. A reserve for estimated returns is established when sales are recorded. The Company excludes sales taxes collected from customers from net sales in Its Statement of Operations.Cost of Sales and Selling, General and Administrative Expenses- The following table Illustrates the primary costs classified in each major expense category: Cost of Sales Cost of merchandise sold; Freight costs associated with moving merchandise from our suppliers to our distribution center; __ †¢ . – Costs asSociated with the rilovein8nt Of – merchandise-through. customsrCosts associated with the fulfUiment of online customer orders; Depreciation related to merchandise management systems; Sample development costs; Merchandise shortage; and Client shipping costs.Selling, General and Administrative Expenses Payroll, bonus a nd benefit costs for retail and corporate associates; –~- __Design and merchandising oosts;____ _ _ _ Occupancy costs for retail and corporate facilities; -Depreciation related to retail and corporate assets; · Advertising and marketing costs; Occupancy and other costs associated with operating our distribution center; Freight expenses associated with moving merchandise from our distribution center to our retail stores; and Legal, finance, Information systems and other corporate overhead costs.Advenlslng- Costs associated with the production of advertising, such as printing and other costs, as well as costs associated with communicating advertising that has been produced, such as magazine ads, are expensed when the advertising first appears In print. Costs of direct mall catalogs and postcards are fully expensed when the advertising Is scheduled to first arrive in clients' homes. Leases and Oete†ed Rent Obligations – Retail stores and administrative facilities are occupied under operating leases, most of which are non-cancelable.Some of the store leases grant the right to extend the term for one or two additional five-year periods under substantially the same terms and conditions as the original leases. Some store leases also contain early termination options, which can be exercised by the Company under specific conditions. Most of the store leases require payment of a specified minimum rent, plus a contingent rent based on a percentage of the store's net sales in excess of a specified threshold.In addition, most of the leases require payment of real estate taxes, Insurance and certain common area and maintenance costs In addition to the future minimum lease payments. Rent expense under non-cancelable operating leases with scheduled rent increases or free rent periods is accounted for on a straight-line basis over the initial lease term beginning on the date of initial possession, which is generally when the Company enters the space and b egins construction build-out Any reasonably assured renewals are considered. The amount of the excess of straight-line rent expense over scheduled payments is recorded as adeferred liability. 1 Anne Aylor, IlK. Construction allowances and other such lease incentives are recorded as deferred credits, and are amortized on a straight-line basis as a reduction of rent expense beginning in the period they are deemed to be earned, which often is subsequent to the date of initial possession and generally coincides with the store opening date. The current portion of unamortized deferred lease costs and construction allowances is included in â€Å"Accrued tenancy†, and the long-term portion is included in â€Å"Deferred lease costs† on the Company's Balance Sheets.Restructuring Costs – On January 30, 2008, the Company inniated a multi-year restructuring program designed to enhance protnability and improve overall operating effectiveness. The restructuring program, includ es closing underperforming stores over a three-year period, reducing the Company's corporate staff by approximately 1Oo/o and undertaking a broad-based productivity initiative that includes, among other things, the strategic procurement of non-merchandise goods and services.Restructuring costs include non-cash expenses, primarily associated wnh the write-down of assets related to store closures, cash charges related primarily to severance and various other costs to implement the restructuring program. Liabilities associated with restructuring charges are included in â€Å"Accrued salaties and bonus,† Accrued tenancy,† â€Å"Accrued expenses and other current liabilities,† and â€Å"Other liabilities. † Cash and Cash Equivalents – Cash and short-term highly liquid investments with original maturity dates of 3 months or less are considered cash or cash equivalents.The Company invests excess cash primarily in money market accounts and short-term commer cial paper. Financial Instruments- The Company's auction rate securities are classified as available-for-sale and are — - ·Ã‚ ·- ·Ã‚ · —–carried at. cost or_ par_ value,. which _appro,droaJe$J~! mM~~LV~-~~~ . I~_s. e_ sepurities have stated maturities beyond three months but are priced and traded as short-term instruments due to theliquiditY-provided fnrougn — - · – ·  ·Ã‚ ·  ·Ã¢â‚¬â€Ã¢â‚¬â€-  · - ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œ – ·-ttie interesrratereset ·mechanism-of-2B-or35-days:– ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€-  ·Ã¢â‚¬â€-. - ·Ã‚ ·- ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ · Merchandise Inventories – Merchandise inventories are valued at the lower of average cost or market, at the individual item level. Market is determined based on the estimated net realizable value, which is generally the merchandise selling price. Merchandise inventory levels are monitored to identify slow-moving items and broken assortments (items no longer in stock in a sufficient range of sizes) and markdowns are used to clear such merchandise. Merchandise inventory value is reduced if the selling price is marked below cost.Physical inventory counts are performed annually in January, and estimates are made for any shortage between the date of the physical inventory count and the balance sheet date. Store Pre-Opening Costs – Non-capital expendnures, such as rent, advertising and payroll costs incurred prior to the opening of a new store are charged to expense in the period they are incurred. Property and Equipment- Property and equipment are recorded at cost. Depreciation and amortization are computed on a straight-line basis over the following estimated useful lives: Building †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 0 yea rs Leasehold improvements †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 years or term of lease, if shorter Furniture, fixtures and equipment.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2-1 0 years Software †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 years Accounting for the Impairment or Disposal of Long-Lived Assets – The assessment of possible impairment is based on tbe Company's ability to recover the carrying value of the long-lived asset from the expected future pre-tax cash flows (undiscounted and wnhout interest charges).If these cash flows are Jess tha11 the carrying value of such assets, an impairment loss is recognized for the difference between estimated fair value and carrying value. The primary measure of fair value is based on discounted cash flows. T he measurement of impairment requires management to make estimates of these cash flows related to long- 82 Anne Aylor, In(. lived assets, as well as other fair value determinations. Goodwill and lnde†nlte-llved Intangible Assets – The Company performs annual impairment testing related to the carrying value of the Company's recorded goodwill and indefinite-lived intangible assets.Defe†ed Financing Costs- Deferred financing costs are amortized using the effective interest method over the term of the related debt. Self Insurance – The Company is self-insured for certain losses related to its employee point of service medical and dental plans, its workers' compensation plan and for short-term disability up to certain thresholds. Costs for self-insurance claims filed, as well as claims incurred but not reported, are accrued based on management's estimates, using information received from plan administrators, third party activities, historical analysis, and other relevant data.Costs for seH-insurance claims filed and claims incurred but not reported are accrued based on known claims and historical experience. Income Taxes – The Company accounts for income using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized, and income or expense is recorded, for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Treasury Stock Repurchases – The Company repurchases common stock from time to time, subject to market conditions and at prevailing market prices, through open market purchases or in privately negotiated transactions. Repurchased shares of common stock are recorded using the ~ost method. - ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ —– — · – – – – – – – – –  œ – –  · ——- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- - ·Ã¢â‚¬â€Ã‚ · —- ——— · —- ·Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ ————-Stock-based Compensation- The Company uses the modified prospective method to record stock-based — ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·Ã‚ ·- —compensation-:-Thecalculaticinof stocK-baseifcompensatiOn exp-ense requirestne input ofnigtily subjective___  ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã‚ ·  ·Ã¢â‚¬â€Ã¢â‚¬â€œ.. -†¦ assumptions, including the expected term of the stock-based awards, stock price volatility, and pre-vesting forfeitures. The Company estimates the expected IHe of shares granted in connection with stock-based awards using historical exercise patterns, which is assumed to be representative of future behavior.The volatility of common stock at the date of grant is estimated based on an average of the historical volatility and the implied volatility of publicly traded options on the common stock. In add†ion, the expected forfe†ure rate is estimated and expense is only recorded for those shares expected to vest. Forfeitures are estimated based on historical experience of stock-based awards granted, exercised and cancelled, as well as considering future expected behavior.Savings Plan and Pension Plan -In June 2006, the Company's Board of Directors authorized management to freeze â€Å"s non-contributory defined benefit pension plan (the â€Å"Pension Plan†) and enhance its defined contribution 401 (k) savings plan (the â€Å"401 (k) Plan;. These plan changes became effective on October 1, 2006. Savings Plan – Substantially all employees of the Company and â€Å"s subsidiaries who work at least 30 hours per week or who work 1,000 hours during a consecutive 12 month period are eligible to participate in the Company's 401 (k) Plan.Under the plan, participants can contribute an aggr egate of up to 75o/o of their annual earnings in any combination of pre-tax and after-tax contributions, subject to certain lim†ations. The Company makes a matching -contribution of 1OOo/o w†h respect to the first 3o/o of each participant's contributions to the 401 (k) Plan and makes a matching contribution of 50o/o with respect to the second 3o/o of each participant's contributions to the 401 (k) Plan.Pension Plan- Substantially all employees of the Company who began employment prior to October 1, 2006, and completed 1,000 hours of service during a consecutive 12 month period prior to that date are eligible for benefits under the Company's Pension Plan. The Pension Plan calculates benefits based on a career average formula. Only those associates who were eligible under the Pension Plan on or before September 30, 2006 are eligible to receive benefits from the Pension P! an once they have completed the five years of 83 Anne Aylor, Inc. ervice required to become fully vest ed. As a resu~t of the Pension Plan freeze, no associate may become a participant in the Pension Plan on or after October 1, 2006, and no additional benefits will be earned under the Pension Plan on or after October 1, 2006. The Company records the net over- or under-funded position of a defined benefit postretirement plan as an other asset or other liability, with any unrecognized prior service costs, transition obligations or actuarial gains/losses reported as a component of accumulated other comprehensive income in stockholders' equity.Other Liabilities – Other liabil~ies includes liabilities associated with the Company's restructuring program, pension plan, borrowings for the purchase of fixed assets, and obligation tor excess corporate office space. — ·Ã‚ ·Ã¢â‚¬â€- ·Ã¢â‚¬â€Ã¢â‚¬â€œ —– ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€ —- ·Ã¢â‚¬â€- ·- - ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·-  ·Ã¢â‚¬â€- – ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·Ã¢â‚¬â€- ·- ·Ã¢â‚¬â€œ - ·- ·- ·Ã¢â‚¬â€Ã‚ · — ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€- ·.  ·- ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·  ·- ·- - ·  ·- ·Ã¢â‚¬â€œÃ‚ ·  ·- ·- ·- —– ·- 84 Anne Aylor, In(. Anne Aylor, Inc. Memo: Analysis of Performance First Quarter Year Ended: January 28,2012 Reference: Prepared by: Date: G3 DF 6115111 Reviewed by: Net sales for the first quarter of fiscal 2012 increased 7. 5 percent from the first o quarter – f fiscal 2011.Comparable store sales for the first quarter of fiscal 2012 increased 5. 1 percent, compared to a comparable store sales increase of 2. 5 percent in the first quarter offiscal201 J. The Company saw improvement in same store sales as a result of a targeted promotional strategy that helped drive increased traffic to Company stores. The Company also continues to experience growth in e-commerce sales that are up by more than 20% over the previous comparable period. Gross margin as a percentage of net sales increased to 54. 5 percent in the first q uarter of fiscal 2012, compared to 53. 0 percent in the first quarter of fiscal 2011.The increase in gross margin as a percentage of net sales for the first quarter of fiscal 2012 as compared to the comparable fiscal 2011 period was due primarily to higher full price sales as a percentage of total sales coupled with higher margin rates achieved on both full price and non-full price sales at stores. This performance was the result of improved product offerings, effective marketing initiatives and the success of the Company's strategy to appropriately position inventory levels. ——————————————– ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ · - ·Ã¢â‚¬â€- ———— ·Ã¢â‚¬â€Ã‚ ·Ã‚ ·Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€Ã‚ · ——– ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·- ·Ã‚ ·Ã‚ ·Selling, general and administrative expenses as a percentage of net sales decreased —— — â €”—– ———-ro–48:1 percent; -;n-rhe first quanero jlsCiir20n ;–co paredto5o:g peicenroj ner — — ———– —–f m sales in the first quarter of fiscal 2011. The decrease in selling, general and administrative expenses as a percentage of net sales was primarily due to improved operating leverage as a result of higher net sales, payroll and tenancy related savings associated with the restructuring program, and continued focus on cost savings initiatives.The decrease in selling, general and administrative expenses was partially offset by higher marketing and performance-based compensation expenses. Net income as a percentage of net sales increased to 3. 8 percent in the first quarter of fiscal 2012, compared to 2. 6 percent in the first quarter of fiscal 2011. The increase in net income as a percentage of net sales is due to strong full price selling at Company stores and improved operat ing efficiencies. 85 Anne A~or, Inc. Anne Aylor, Inc.Planning Materiality AsiiiSrnent Year Ended: January 28, 2012 Primary Users of Financial Statements (llat): Reference: Prepared by: Date: Reviewed by: G5 Materla! ltl_Bases On thousands_}: Flscal2011 Actual Financial Statement Bat Amounts Income Before Taxes Net Revenues Current Uabilltles Current Assets—– Total Assets Planning Materiality On thousands): Explanation: Flscal2012 Planning Materiality Levels Projected Upper Limit Lower Limit Financial Dollar Statement Dollar Amount Percent Amounts Percent Amount 2 7 – 2– –0. 5 – –7 2 7 2 0. 5 2 – – – I$ 87 Anne Aylor, Inc. Anne Aylor, Inc. Tolerable Mlutatement Assessment Year Ended: January 28, 2012 Reference: Prepared by: Dale: Reviewed by: G6 Likelihood of Management Fraud (check one): Low Likelihood of Management Fraud Reasonably Low Likelihood of Management Fraud Moderate Likelihood of Management Fraud Tolerab le Misstatement (In thousands): Planning Materiality: Multiplication Factor (0. 75 if low likelihood of management fraud, 0. 50 if reasonably low likelihood of management fraud, and 0. 25 if moderate likelihood of management fraud).Tolerable Misstatement (In thousands) $ X $ :;pee S lflc Accounts Requiring Lower Tolerable Mlsstatement: Account Tolerable Misstatement Explanation;- — —– ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·- ·- ·Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- — —————- · . ——- · —–~– ——— ·- ·Ã‚ ·Ã‚ ·Ã‚ · .†¢. —– ——-â€Å"‘ —- – —- ——- - ·  ·Ã¢â‚¬â€- ·- — – †¦. ——— — ·Ã¢â‚¬â€ —- Explanation: Explanation: Explanation: Explanation: Explanation: 88 Anne Aylor, Inc. Anne Aylor, Inc. Planning Materiality Finan cial Information YearEnded:January28,2012 Reference: Prepared by: G7 Data: Reviewed by: 1/28/2012 1/29/2011Projected Actual All amonts are in thousands 1,355,400 $ $ 1,243,788 Net sales 599,700 562,427 Cost of sales 755,700 681,361 Gross margin 659,800 627,622 SeiUng, general and administrative expenses 3,856 Restructuring charges 0 95,900 Operating income/(loss 49,883 Interest income 700 636 1,200 Interest expense 1,009 95,400 lncome/(loss) before income taxes 49,510 Income tax provlsion/(beneflt) 36,900 18,408 Net lncome/(loss) 58,500 $—-~=-$—=-3a1,~10†¢2 A11ets Current assets Cash and cash equivalents $ 156,600 $ 138,194 . ___ Accountsreceivable ____ - ·Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- – ·- ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã‚ ·Ã¢â‚¬â€Ã¢â‚¬â€- ·Ã‚ ·Ã¢â‚¬â€œÃ‚ ·Ã¢â‚¬â€Ã¢â‚¬â€œÃ‚ ·12,100– —— 12,67o- ·-.. —- · Merchandise Inventories 133,800 111,229  ·Refundable Income- taxes- ·Ã¢â‚¬â€-~— · – ·-  ·-  ·- —  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã¢â‚¬â€œ —- ·- ·Ã‚ ·  ·Ã‚ ·-  ·  ·- · —– ·  ·Ã‚ ·Ã‚ · —- —– – ·  ·- ·- –  ·- · —- —— ·  ·Ã¢â‚¬â€Ã¢â‚¬â€œ18,400 16,394 Deferred income taxes Prepaid expenses and other current assets Total current assets Property and equipment net Deferred financing costs, net Deferred Income taxes Other assets Total assets Uabllltles and Stockholdn' Equity Current llabllltles Accounts payable Accrued salaries and bonus Accrued tenancy Gift certificates and merchandise credits redeemable Accrued expenses and other current Uabilltles Total current liabilities Deferred lease costs Deferred income taxes Long-term performance compensation Other liabilities Total liabilities Stockholders' equity Common stock and paid in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total stockholders' equity . Total liabilities and stoc kholders' equity $

Tax research problem Paper Example | Topics and Well Written Essays - 1000 words

Tax problem - Research Paper Example Please prepare a memorandum to me addressing the tax consequences of receiving the $200,000 back-pay and damages award, and any gross up she might receive caused by the bunching effect of receiving the award in a single year. Be sure to cite any authority bearing on these questions. _____________________________________________________________________________ MEMORANDUM TO: S. Partner, C.P.A. FROM: J. Accountant RE: Brenda Broccoli In Brenda’s case, three facts must be considered: structured settlements are a possibility; there is one major tax advantage to having a structured settlement; and there is one major disadvantage to having a structured settlement. The structured settlement itself was devised 29 years ago in order to ensure that people who suddenly came into money due to a jury’s award would not have to suffer financial consequences that come with new-found wealth. â€Å"In 1982, Congress created†¦the structured settlement. Rather than paying [a] plainti ff with a single check of $1 million, defendant pays plaintiff $2 million in increments over the next twenty years. [S]preading the receipt over a long period of time [relegates]†¦settlement monies to periodic payments, creating the structured settlement tax subsidy.†1 One of the major problems that had been plaguing people who won large sums of money from jury trials included the fact that people would be subject to losing or spending all of their money in a very irresponsible fashion. This was partially due to the fact that many people simply were not prepared to deal with such large sums of money, had poor financial planning, and, as a result—would lose all of their settlements in a very short time. The best aspect of making sure that one gets a structured settlement for the payout of $200K is that, most likely, Brenda could maintain her current tax bracket instead of being taxed in the second-highest tax bracket in the country. â€Å"One significant advantage of a structured settlement is tax avoidance. With appropriate set-up, a structured settlement may significantly reduce the plaintiff's tax obligations as a result of the settlement, and may in some cases be tax-free.†2 What would be ideal is if Brenda’s settlement was tax-free. The specifics would have to be worked out with her tax lawyers, but perhaps they could set up a tax shelter in the Cayman Islands by setting up an account there and funneling the money there—either that or in Switzerland. Unfortunately, since all the money in a structured settlement isn’t received at one time, no big purchases can be made—such as buying a house. â€Å"One of the disadvantages to a structured settlement is that you cannot make any changes in the amount you receive or in your schedule of payments. That is why it is imperative when you agree to a structure, that you try†¦to anticipate what your needs will be over [time].†3 Of course, it would really depend upon the payout amount of the structured settlement as to what types of goods and services could be purchased based upon Brenda’s budget. It is recommended that Ms. Broccoli make full advantage of her tax lawyers, who specialize in this very same type of legal dilemma.

Importance of trainning and education. Is it important yes or no why Essay

Importance of trainning and education. Is it important yes or no why - Essay Example This can be achieved only through learning. We also need education to answer all the basic questions we may have about life – how did life originate, what is land, water and air, why is the sky blue, how can we build houses, and so on. Education is required on both personal and professional fronts. In order to acquire a job, we need to be qualified for it and possess an appropriate degree. In personal life, we need to communicate, calculate, reflect on our experiences, know basic manners, etiquette and civic behavior, etc. All this is acquired through education at home, at school/college and everywhere else. In order to apply the learning acquired through education, one needs proper training. For instance, learning how to manufacture a car theoretically does not necessarily enable an individual to actually perform the task. This especially applies to specialized functions that are a part of any profession. Therefore, to be able to have a good professional career, one needs to be trained for the job. Training, however, is not just required for a successful career but also for basic chores that are a part of daily life. Even the very act of speaking, that comes naturally to every individual, is acquired through the education and training that an individual subconsciously acquires in childhood. Innumerable surveys have shown that employers seek well qualified employees. Employers are especially interested in problem-solving and communication skills that include computational skills, good work habits, linguistics skills, money handling, and oral and written communication (Natriello 1). These skills can only be acquired through education. In addition to education, employers place more emphasis on experience especially that acquired through internships or prior employment (Fischer 1). Experience is acquired through training, either on job, or through internships. Employers place more weight on experience because it ensures that a

Your Are An Enterpreneur Assignment Example | Topics and Well Written Essays - 2000 words

Your Are An Enterpreneur - Assignment Example Although the beverage industry has remained considerably competitive due to a range of retailers offering beverages brands and products, still there is a market capacity to entertain new retailers in the industry. Additionally, the business would provide a physical space where customers can sit and enjoy drinking different beverages. Although the main objective would be to work as a retailer, however it would also be a way to increase sale by offering congenial environment to the customers. As a result, the ultimate objective would be to enhance the sale of products. Business Product and Staffing Plan The entrepreneur intends to make contractual agreements with the big names in the industry. The companies such as Coca-Cola, Pepsi and other leading companies would be reached. In the agreements, retailer margin, transport of products, loss in transit, bulk purchase discounts and other important factors shall be included. However, before going to finalize agreements, the entrepreneur in tends to research the existing policies and interaction between these companies with the existing retailers. For this purpose, both online and offline resources would be used to gather the relevant information. The entrepreneur intends to hire three full time assistants serving to customers. These assistants would be required to guide customers, provide information and assist them with any other requirements needed by the customers. The reason behind hiring three assistants is to facilitate customers. This facilitation enhances a possibility of customer loyalty. One assistant would work as Account Assistant, maintaining chart of accounts on daily, weekly, monthly, semi-annually and yearly basis. Subsequently, this would generate an un-interrupted flow of customers and revenue would be keep coming. Additionally, the business plan would be modified based on certain achievements. For example, within six months, if the budgeted sale is achieved, the initial outlay would experience addit ional investment of $ 50,000. With this plan, two additional employees would be hired; one would be required to work as store assistant maintaining inventory records and allowing and receiving the subsequent shipments. The other employee would be hired to work along with the retail staff in assisting and entertaining customers. Business benefits Preserved Profit Margin In the retail business, profit margin is always preserved. The producers in association with the relevant regulatory authorities determine and implement pricing strategy from the point of producer to the point of retailer. In this price determination and implementation strategy, profit margin of retailers is always taken into account and is enforced before going to commence receiving orders and delivering shipments to retailers. Minimized Storage Loss Generally, retailers do not experience a substantial storage loss of beverages. As the retailers do not produce beverages and the producers mostly produce and store thei r beverages, the retailers remain in a position to protect themselves from facing any substantial storage loss, which may be caused by manufacturing date expiry, loss caused by insufficient storage facilities and other unknown related factors. Generally, the retailers do not order bulk supplies of beverages in order to avoid facing any loss may be caused by storage conditions. By doing so, the retailers minimize the chances of facing storage losses. Reduced Cost of Production Loss caused by pilferage, date expiry and transportation cost increases cost of production. However, the retailers decrease their cost of production by reducing

Student Performance in College Essay Example | Topics and Well Written Essays - 750 words

Student Performance in College - Essay Example Most people who were successful in high school will continue this trend into college; however this is not always the case. On the other hand, if a person was unsuccessful and failed in high school, there is a greater chance that person will display the same qualities and not succeed in a college setting. If a person is unable to manage time, study, and do well in a high school setting, it will be even harder for them too adapt to a much looser idea of college, and to succeed at that level. Another factor that influences how well a person will do in college is the background they come from. At the sake of stereotyping, a person who came from a better school and a better at home life will have a better chance of doing well in college. If a person always suffered from living in sub-par conditions and had problems at home, they may find the transition to being alone in a college a difficult one, and may find it hard to succeed. Also, if a person was "kept in a bubble" so to speak at home, or was very sheltered, they may find that they break out of this bubble at college. If this person succeeded previous to this, even in high school, once they find themselves without rules and supervision they may experience a huge outbreak of bad behaviors, and descend down a slippery slope of bad decisions. This is all due to never having exposure to those types of situations before, and this can happen to many people who were sheltered throughout their high school careers. Another factor to consider when thinking about how well a person will do in college is how the person works with other people. Some people may be great at school, but may have a hard time working with other people. In a college setting, there are many chances where you might not have a choice who you work with, and you may have to quickly learn how to work with someone you may not want to. If someone is not apt to work well with other people, they may find adjusting to this new harsh reality of college life frustrating, and may find it difficult to achieve well in this setting. Other people who may find it difficult to be successful in college are people who had previous bad behaviors, such as partying or drugs. People who fell into these bad habits in high school, or even earlier, may find an ever wider exposure to partying and bad decision making in college. Now trying to be cool and fit in with another group of people, these kids may commit more serious crimes and make even worse decisions that could possibly cost them their admissions into college, or even get them expelled from the college if they somehow are admitted. Teenagers who have these bad behaviors previous to college are likely to continue them, and may find it hard with more of those bad opportunities surrounding them in college to be able to achieve their true potential. Students who participated in a lot of extra activities in high school may also find the transition to college a difficult one. They may find that they cannot keep up with all the activities they did in high school, and that they may have to pick some of these to do well in college. Hopefully they will learn this sooner better than later, and can adjust and still be successful in a college setting. In conclusion, there are a myriad of reasons a student could be unsuccessful in college, but any student who is willing to work hard, put in the effort and time, and be willing to make

Understaffed Nursing Problems in Hospitals Research Proposal

Understaffed Nursing Problems in Hospitals - Research Proposal Example It is noticeable that the nursing shortage has become a global issue that has put patients care at higher risk and residents are complaining of poor care. It has been found that some nursing homes are highly understaffed that have endangered the lives of patients (Ellis & Hartley, 2004). Thousands of nurses are needed in nursing homes to address the health issues of patients who need assistance to recover from chronic diseases. But, they are losing hope and facing more health complexities due to the shortage of nursing staff. Some evidence-based major complexities that emerge from lack of nurses' assistance include hypertension, catheterized patients, urinary infections, poor feeding resulting in malnutrition, dehydration and most prominently decrease in the participation rate of patients in healthy activities (Siela, 2009). Nursing staff is responsible for taking care of patients during medicines intake or meal time and their absence lead patients to more complex health conditions. †¢ Problem and Problem Statement: Present literature over closely related issues shows that no study has contributed to highlight the factors, which are responsible for causing understaffed nursing problems in hospitals. †¢ The significance of the Problem: Lack of identification of responsible factors is a crucial issue and its solution can lead to resolving problems of the understaffed nursing sector. This problem has significant importance as it will help practitioners and researchers recognize the areas, which need proper attention and modification to provide standard healthcare services to the patients. Additionally, a research-based study covering an important issue related to understaffed nursing department might also contribute to open the gate and beneficial opportunities for those individuals, who seek to build up the career in the field of nursing.  A study conducted by Buerhaus, Donelan & Ulrich in 2005 aimed to find out the rate and impact of registered nurse s in the hospitals.

Economics of Money and Banking Short Answer Questions Essay

Economics of Money and Banking Short Answer Questions - Essay Example Floating is done in two major ways. These are the selling of Australian dollar and the buying of other foreign currencies; mostly the United States Dollar. Whenever the Reserve Bank of Australia wants to support the exchange rate against depreciation, the Reserve Bank of Australia sells foreign currency and in return buys Australian dollars. When the needed arises for appreciation to be resisted, the Reserve Bank does the opposite by buying foreign exchange and selling the Australian dollars. This is basically how the reserve bank intervenes in the foreign exchange. The reason behind the intervention described above is basically to ensure that the Australian dollar gets a stronger value in the foreign exchange market. Sustaining the value of the Australian dollar is very important and the need for it cannot be underestimated. This is because on the foreign exchange market and in all other major investment transactions that take place in Australia, the value of the Australian dollar p lays a highly instrumental role in determining the amount of money investors spend in transactions. 2) What are the main objectives of monetary policy in Australia? Explain how monetary policy is implemented in Australia and how changes in monetary policy are transmitted through the economy to affect the overall level of economic activity Monetary policy basically refers to the manipulation of short-term trade conditions; mostly interest rates to help in the realization of domestic policy objectives. This means that monetary policy is put in place to favor the successful implementation of domestic economic policies. In Australia, monetary policy is implemented by the Reserve Bank. The implementation of monetary policy is done through a number of ways in several countries. In Australia however, the major monetary implementation is done by managing interest rate in such a way that it responses to international monetary pressure and shock. This

History of Economic Thought Term Paper Example | Topics and Well Written Essays - 1250 words

History of Economic Thought - Term Paper Example These colonies after annexation could only trade with its colonizers. Policies such as export subsidies and tariff trade barriers further promote biased foreign trade. In essence, the aim was to encourage exportation and explicitly discourage importation (Murphy 2010, p.288). However, capital equipment or tools that would benefit foreign countries could not be exported. Nonetheless, governments supported exploitation of raw materials within the countries boundaries. Other states supported the growth of home industries by use of incentives such as exemption from tax or earning of pension for successful industries. Even immigration of competent laborers to foreign countries faced restriction to maintain competitive advantage (Harris 2004, p.3). Undoubtedly, governments saw this as a sure way of making their countries rich. As such, this theory spread quickly and lasted for over 200 hundred years as the dominant guideline to foreign trade. However, Vaggi (2003, p. 16) argues that mercan tilism rose in relation to the existing problem rather than a school of thought. The Renaissance period in Europe saw by far the greatest influence of this theory. Between the 15th and 18th century especially, governments embraced this doctrine that extended up to the early modern period. Countries such as France, Britain, Germany and Italy are some of the examples of countries that utilized this theory. These periods marked the decline of the feudal systems in Europe (Murphy 2010, p.289). There was tension within and outside Europe states as a result of wars mostly resulting from resistance to colonization and political aggregation caused by territorial expansion. The measure of wealth was in terms of precious metals, for instance, gold and silver and as such government sought out these metals with valor. The wars fought during this period aimed to acquire more gold and silver or alternately to prevent from losing gold and silver (Vaggi 2003, p.16). The main advocate for this theor y is the French man Jean-Baptiste Colbert. During his reign as the finance minister for France, he implemented many policies that endeavored to support this theory. For instance, foreign vessels received higher port duties while French vessels did not pay port duties. This theory in regard to Colbert’s policies took on a monopolistic structure. This is because the aim was to ensure that the state is the sole producer and hence supplier of products. The state also had complete control of the prices for both suppliers and consumers. In England, the most noted mercantilist was Thomas Mun. This form of trade had its advantages, and it helped the economy of those nations to grow considerably within that period. Case in point is the considerable reduction of the price of products within the economy because the state creates economies of scale. However, this is only realistic in regard to a purely competitive market structure. Economies of scale arise from the states ability to make abnormal profits from its trading activities. Secondly, industries are not afraid to take risks because the government supports them. This theory led to the growth of local industries and trade. Local companies became international trade powerhouses for instance former British East India Company. In regard to politics, this theory is by far the greatest advocator of Nationalism because its survival depended on it (Harris 2004, p.5). While the most noted influence to the decline of the

The Irish Participation in the American Civil War Essay

The Irish Participation in the American Civil War - Essay Example As the discussion highlights the Fighting 69th is lead by Thomas Francis Meagher during the American Civil war and led the said Union through the main visions. One is to have a clear message towards Britain on an action supporting the Union in Ireland regarding the interventions favoring the opposing group. For that matter, it also confirmed the second objective that is to set the goals of the Irish people to have a unified support for the group. Lastly is to have a unified cooperation from the Catholic minority. This paper outlines that Thomas Francis Meagher and the Fighting 69th had been chosen to represent the significant characters in the American Civil War on the basis of the courage and determination that they possess in helping the people of the US. It can be perceived that even with the conflicts in their homeland, the members of the group went to fight their battles to be able to contribute if not for the achievement of the unified goals of the people in Ireland but in the United States. Meagher although an Irish exile due to political reasons, had been able to contribute in the American Civil War by leading the Union. Included in the contributions of the Union can be related to the lineage and history of service through the period of the American Civil War. From the 1st Regiment of the Irish Brigade, the 182d Infantry New York State Volunteers and the 69th National Guard Infantry, the contributions of the group can be considered notable. These groups were united by Meagher under th e Irish Brigade with the historical fight during the Seven Days battles.

Financial Analysis of Competition Bikes Essay Example for Free

Financial Analysis of Competition Bikes Essay Financial Analysis of Competition Bikes Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In financial analysis a complete assessment of a business organization covering competitiveness, profitability, liquidity and stability concerns. Financial analysis of a business is undertaken by reviewing the business’ financial statements. Summarized financial statement reports are frequently presented to executives and top managers for setting up business goals as well as making decisions. Analysis of the financial statements of Competition Bikes demand evaluation of the internal operation focusing on vertical, horizontal, ratio and trend analyses and the working capital. These evaluations communicate profit margins enabling projection of budgets and restraining sales and costs potential. Annual comparison of production performance subject to profit versus overhead helps in forecasting of budgets for production ingredients on a monthly basis (Shim, J. and Siegel, J. 2009). Competition Bikes Horizontal Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This is the examination of percentage changes in comparative statements of a business. In this case, it is the evaluation of Competition Bike’s comparative statements between the year 6 and 7 as well as 7 and 8. The horizontal analysis chart helps in indicating the value of accounts payable differential in year 6 and 7 as well as year 7 and year 8. The company’s net sales soared up by 33.3% between year 6 and 7 at $1,495,000. However, net sales differential between year 7 and 8 was a negative implying that sales decreased by 15% at $897,000. Therefore, it is essential that Competition Bikes increases annual sales to reap higher profits. The value of gross profit registered was a negative figure of $266,600 equivalent to 16.3% decrease. Interestingly, the company registered a 37.5% gross profits increase between year 6 and 7 at $447,000.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The time period between purchasing of raw materials, manufacturing and distribution of goods is referred to as the operating cycle. The net period in collection of receipts from payments and sales is the cash conversion cycle for the different ingredients consumed and produced by Competition Bikes. The company witnessed a decrease in the operating cycle between years 6 and 7 from 50.52 to 48.00 days. This is explained by the increased growth of sales relative to the inventories growth rate. The cash conversion period between year 6 and 8 was relatively negative. This is because Competition Bikes Inc has a high liquidity owing to the short receivables period supplemented by a lengthy payable deferral period. It is indicative of the efficient management of the company’s resources.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The aggregate of administrative and general expenses between year 6 and 7 increased at $156,440 equivalent to 20.4% increase. However, the increase between year 7 and 8 was significantly lower at $11,004 equivalent to 1.2% increase. Still, Competition Bikes Inc operating income between year 6 and 7 increased at $191,820 equivalent to 154.6% increase. However, this parameter decreased at $318,392 equivalent to 61.9% decrease. Higher profits were registered between year 6 and 7 relative to year 7 and 8 which registered a dcrease in profits.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In addition, the company’s cash account differential between 6 and 7 was a decrease of $142,451 equivalent to 54.6%. However, this differential increased between year 7 and 8 at $326,475 equivalent to 275.4%. The net liabilities difference between year 6 and 7 was $128,620 equal to 1.2% increase. According to horizontal analysis, the total liabilities differential from year 6 to 8 was a decrease at $35,500 or 1.9% (Brigham, E. and Houston, J. 2007).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Still, Competition Bike’s common equity differential between year 6 and 7 was a 2.9% increase equating to $119,914 increase. Horizontal analysis of the same parameter indicates a fall between year 7 and 8 equal to $2,400 or 0.1% decrease. Since year 7 and 8 registered a lesser loss comparative to the gain between years 6 and 7, Competition Bikes Inc. broke even in the former years from the aggregate of year 6 and year 7. Competition Bikes Inc Vertical Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In vertical analysis, an exploration of a company’s statement of financial position is considered to validate each element comparative to the total assets as a percentage. For the income statement, vertical analysis involves exploration of the various variables subject to total sales. This analysis helps in evaluation of the financial performance of Competition Bikes Inc with time. The tabulation below indicates the Vertical Analysis of the Competition Bikes Inc’s Balance Sheet Account elements Year 6 Total assets ($4,199,303) Year 7 Total assets ($4,319,217) Year 8 Total assets ($4,316,817) Notes and accounts Payable 1.6% 4.5% 6.1% Accrued Salaries and other expenses 0.4% 0.3% 0.3% Accrued Expenses 0.5% 0.6% 0.6% Mortgage 42.9% 39.4% 37.1% Long term Liabilities 2.1% 2.0% 1.9% Stockholders Equity 52.5% 53.3% 54.1%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Competition Bikes Inc Vertical Analysis assesses the liabilities, equities and assets of the company. Overall, the operating expenses fluctuated in little figures indicate a strong internal control policy. Therefore, there was little depreciation on the company subject to the operating sales versus costs. The proportion of liabilities decreased over the three years indicating an improved ability in Competition Bikes Inc to settle debts. The proportion of common equity relative to debts increased over the period signifying a growth in the net capital of the company. Competition Bikes Trend Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This is the evaluation of the financial performance of a business over time. Firstly, Competition Bikes Inc balance sheet figures increased tremendously between years 6 and 8. This signifies growth and expansion trend in Competition Bikes. On average, the company grew at 3.3% which is a sustainable growth rate. Over the three years, the sales dropped significantly and especially between year 7 and 8. Nonetheless, the profit margin was relatively strong due to little fluctuations in overhead costs such as materials, productions costs and carrier fees. Therefore, it is potentially possible that the future sales in years 9, 10 and 11 high provided the company maintains the current growth and expansion rate.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Based on trend analysis, it is anticipated that the company’s sales in future will remain strong. This inspires the shareholder to invest more in the company over the next three years. Profits are anticipated to increase at 103.2%, 107.6% and 111.8% over the next three years respectively. In additional, further prodding of the company’s financial statements indicates a declining rate in sales growth rate. For instance, the company sales increase at 8.65% between year 6 and 7 as well as 9.85% between year 7 and year 8. Nonetheless, the significantly small sales growth rate is associative to higher boost in net income which rose by 12.82% and 14.46% in year 7 and 8 respectively. Competition Bikes Ratio Analysis   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is the determination of the past years financial performance relative to other companies ratios, trends as well as those of the company/business under review. These ratios include liquidity, profitability and efficiency ratios.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Liquidity ratios extracted from the statement of financial position determine the ability of the business to pay its debts at and as when they fall due. The fractions are significantly important in computation of the business ability to meet its short term and long term financial obligations and goals. Quick ratio is computed by dividing quick assets by current liabilities. The company registered a low quick ration of 3.11% and 3.21% for years 8 and 7 respectively. This is because as a motor bike retailer, the company must hold high levels of inventory meaning that most of the working capital ends up tied. Considering that the company enjoys a small inventory turnover ratio, this is not a worrying level.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Efficiency ratios include the inventory turnover ratio and the average collection period. The former is obtained by dividing total sales by total inventory. This ratio indicates the efficiency and the rapidity with which the company manages to sell its bikes. In year 7 and 8, the company’s inventory turnover fell from 46.7 to 45.9 indicating decrease strength in paying off debts. The latter ratio is the anticipated period of cashing owed receivables from clients. Competition Bikes Inc current average collection period is 102.6 days. It is not an ideal duration because it implies delayed conversion of receivables into cash for clearing debts and expenses.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Profitability ratios include return on assets and gross profit margin. The former ratio assesses the aptitude of Competition Bikes to raise revenue from its assets. The company’s return on asset parameter in year 7 and 8 was 4.52 and 4.25 respectively. The gross profit margin at the same period was 27.4% and 27% respectively. However, this was a 4.7% drop from the previous 5.3%. The fall in profits translates to poor operations and hence the need to evaluate the company’s strategies. Competition Bikes Working Capital   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This is the difference between the current assets and the current liabilities. It is important to a business because it determines the available resources for increasing production, hiring additional staff, merging and buying out other companies as well as investing in expansion projects. The company had a working capital of $2,123,000 and $1,768,000 in year 7 and 6 respectively. The increased values in working capital indicate an advanced working capital over the three years. Internal Control Strengths and Weaknesses   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   These are predominant in the accounts departments. The company has adequate resources to finance its operations now and into the future. This is because all activities are adequately covered financially. Besides, the company boasts a readily available clientele with a potential to attract additional clients. The company maintains a check and balance system to control sales, purchase and cash management translates to a strong internal control system.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Corrective action in weaknesses lists changes to be made to enhance completion of targets and achieving of total significance in a business. The operations and management for implementation are executed by the management to ensure resolution of identified weaknesses. When the firms adopts a tracking system, execution of identified strategies top resolve the deficiencies is easily executed. Corrective actions were installed to improve production and purchasing deficiencies. This is to help in constant inquiry as well as cooperation among various departments in the business. Risks   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Businesses face constant risks and threats and therefore, it is important to identify, address and mitigate the risks. Competition Bikes is susceptible to numerous risks such as increased competition resonating to low profit margins. Therefore, the company must strategize on maintaining and attracting additional clients. Still, the internal controls are a threat to the company. Impromptu competition between purchasing unit and the accounting department may result to delay in payment of invoices. Proper communication lines must be set within the company to address broken communication. Compliance   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Competition Bikes Inc compliance with Sarbanes-Oxley is indicative of the stringent monitoring controls that the company has installed for internal auditing purposes. This assures stakeholders of the efficient management of the company as well as in compliance with different regulatory framework. Compliance entails provision of an admirable working framework such as motivation of employees, retention of skilled labor and recycling of products. Recommendation   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Considering the past performance of the company, it is recommended that the firm must maintain a sound internal control system. This will report deficiencies such as weaknesses in financial reporting. It will help in securing a lock tight financial recording and documentation. Closer monitoring and evaluation of the excess raw materials and manufacturing surpluses will be maintained in reasonable amounts reducing overspending and potential theft. References Bateman, T. S., Snell, S. (2013). M: Management. New York, NY.: McGraw-Hill Companies. Internal Control Systems. (2011, July 4). Committee of Sponsoring Organizations of the Tread way Commission (COSO). Retrieved December 12, 2013, from http://www.coso.org/documents/COSO_ERM_ExecutiveSummary.pdf.Kieso, D. E., Weygandt, J. J. (2012). Intermediate accounting (9th ed.). New York: Wiley. Shim, J. K., Siegel, J. G. (2012). Schaums outline of financial management (2nd ed.). New York: McGraw-Hill. Source document

Rbs staff grievance procedure

Rbs staff grievance procedure INTRODUCTION Grievance is a complaint held by a member of staff against the RBS as an employer, including a grievance against another member of staff acting on behalf of the RBS. The grievance procedure established by RBS does not apply to collective disputes neither it entertains disputes between members of staff in their private capacities. These procedures mean a ground for complaint against an action taken by another member of staff of the employer acting under the authority of management. RBS Grievance procedures consist of several stages. Throughout all stages of the procedure, every attempt is made to settle the matter by conciliation and negotiations. STAGE 1 INFORMAL DISCUSSION 1. A member of staff when thinking of raising a grievance should try to resolve the matter by a direct approach to the person under the authority usually a Line Manager. www.worthingtonslaw.co.ukf STAGE 2 ONE ON ONE WITH LINE MANAGER 2. If the matter after informal discussion remains unresolved, the aggrieved he or she should request a personal hearing with their line manager. STAGE 3 IN WRITING 3. Then the request shall be made in writing or should be lodged on a Internal Operational Complaint system and shall specify: the grounds for the grievance; Such other background information as may appear relevant and useful. 4. The line manager shall: If appropriate seek the advice of the Human Resources Department or should consult his supervisor or Manager. Should meet the aggrieved staff within five working days. Aggrieved staff and the line manager shall have a copy of the written request or the reference number for the lodged complain. (Marson: Business Law) 5. Another member of the staff as a witness if required can accompany the aggrieved staff at the hearing with line manager. 6. Line manager should then write the report of the meeting or minutes of the meeting or hearing and send it to HR or in case if HR department is not involved or consulted for advice should keep it as a record. Please note: In the case of a grievance against a line manager, this initial hearing shall be with the appropriate Head of Department. STAGE 3 INFORMING AND MEETING THE HEAD OF DEPARTMENT 7. If the matter still remains unresolved and is not in hands of line manager, the aggrieved staff then requests a meeting with the Head of Department. The copy of request shall be sent to Head of Department or the lodged complaint print as a request for meeting. 8. The Head of Department then arranges the meeting within ten working days of receiving the request. 9. He shall also then obtain a copy of the written report of the initial meeting or hearing with line manager and if any relevant papers or documentary proofs from the line manager. 10. One of the Human Resources department members should be present at the meeting with Head of Department to keep a written record of the hearing. 11. Even, while meeting the Head of the Department, another member of the staff as a witness (if needs) may accompany the aggrieved staff on his hearing with Department Head. 12. After the hearing, the Head of Department shall: write to the member of staff to record the outcome of the hearing; copy the letter to the line manager, Head of Human Resources and to the Vice Chancellor; Please Note: In the case of a grievance against the Head of Department the hearing shall be with a Pro Vice Chancellor. STAGE 4 APPEAL TO THE VICE CHANCELLOR 13. If the aggrieved staff wishes to raise the grievance against the decision of the Head of Department she or he may appeal to the Vice Chancellor. But, the appeal should be made within five working days of receiving the letter from the Head of Department. 14. A full written statement of the grievance should be submit to the Vice chancellor; which shall be: a comprehensive background and the facts of the grievance and the issue raised and should attach the relevant supporting documents and in case of the member of the staff witnessed, his or her statement and complete detail. 15. The Vice Chancellor then will copy the written statement and any supporting documents and send it to the member of staff against whom the grievance has been raised. 16. The member of staff will be given ten working days within which to submit written answer or justification against the issue rose, which will then be submitted to the aggrieved member of staff. 17. If the justification is not satisfactory enough or the aggrieved staff does not agree with then a meeting is held with ten days with Vice chancellor holds a hearing with both the member of staff, aggrieved and the one against whom the grievance is made. 18. The Vice Chancellor may delegate this stage of the procedure to the appropriate Pro Vice Chancellor. The conduct of the hearing shall be: Both the aggrieved member of staff and the member of staff against whom the grievance is made. if any facts are in dispute, either or both parties may nominate witnesses and they can accompany them in the hearing but they should be the member of the staff only. 19. The decision of the Vice Chancellor will be the final say in the case and will be notified to the member of staff within five working days of the hearing. Please note: If the grievance is against the Vice Chancellor personally the aggrieved member of staff may submit a written statement of grievance to the Chairman of the Board of Governors through the Secretary to the Board. The Chairman if decides after examining the statement can carry out investigation and if not then declines the request. CONCLUSION RBS follows these 4 stages as their grievance procedure and throughout all the stages, the people in authority i.e. Line Managers, Head of Department, HR, Vice Chancellor, Pro Vice Chancellor and Chairman of the Board tries their level best at their stages to resolve the grievance raised by the aggrieved staff. Reference http://www.worthingtonslaw.co.uk/downloads/EmployeeDismissal.pdf Marson: Business Law http://www.oup.com/uk/orc/bin/9780199544455/resources/updates/statutory_dismissal.pdf

Critical Evaluation of Change Managed in Practice

Critical Evaluation of Change Managed in Practice The Government has clearly outlined the need for nurses to develop leadership skills at all levels within the workforce in order to deliver the NHS modernisation programme (DH  [1]  1998; DH 1999). The leadership role expected of community practitioners is evident in Shifting the Balance of Power (DH 2001a) and Liberating the Talents (DH 2002) with the expectation that health visitors will lead teams which will deliver family-centred public health within the communities they work (DH 2001b). The change I was to lead however was not initiated primarily to support clients, but instead to protect staff working in the community to ensure they were safe and supported in their public health work as a large proportion of the time is spent working alone. The issue of lone worker safety is particularly topical after the recent murder of a mental health support worker during a home visit (BBC News 2006). To support this proposal, Baulcomb (2003) asserts that any change management initiative should not only yield benefits for patients but also for staff and the wider organisation. The Health and Safety Executive (HSE 2005) reports that nurses and other health care workers are 2.8 times more at risk of an injury  [2]  than clerical workers and the vulnerability of health care workers increases significantly if they are working alone  [3]  (Chappell and Di Martino 2000). It was a particularly pertinent time to examine mechanisms for risk reduction as they had still not been reviewed despite a member of staff being off sick  [4]  due to an adverse incident involving lone work. As health visiting frequently requires lone work, it was clear that lone working practices needed reviewing to reduce the likelihood of a similar or more serious incident recurring. Further drivers for change were identified as a result of observations of workers in practice. I noted the following areas of concern: up-to-date whereabouts of staff not always provided (or out of date) and a lack of a reporting-in system which would identify whether staff had finished work safely for the day. I discussed these issues with the community nursing manager who wholly supported any attempts to introduce mechanisms that would improve lone worker safety. A further driver for change was the obligation to implement health and safety legislation. Due to limitations in report length, this information has been provided in Appendix One. If changes are to be implemented which lead to increased worker safety, this will have a positive (although indirect) effect on clients because if staff feel safer and more supported in their roles, they will be less likely to be off sick with stress or injuries (Mahony 2006) which would impact on the teams ability to deliver the public health agenda. As workers who contribute to the implementation of health and safety measures are known to be healthier and safer than those who do not (HSE 2005), it was felt that this would be an appropriate area for the team to examine and implement change. It was after consideration of these anteceding factors that the need for change was established and a vision created: To improve the safety of lone workers within the health visiting team. Implementing the change was a dynamic and multidimensional process with many facets too abundant to detail fully here, however pertinent examples will be selected and analysed. The following study will detail a reflective evaluation of my application of leadership and management theory to effect a change in practice. The successes and difficulties encountered will be given throughout with reference to the literature. Change management requires well-developed leadership and management skills (Marquis and Huston 2000). A combination of these skills is necessary to ensure that the job is done not only efficiently, i.e. new mechanisms are put in place and embedded into the teams practice (the management dimension) (Stewart 1996) but that it is achieved in such a way that motivates and inspires staff to change their practice- the leadership dimension (Stewart 1996). To guide the changes, a change management model was selected. Deegan et al (2004) report that such models provide a theoretical sequence, which will be instrumental in helping the change manager to choose, develop, and order activities which are required during planned change episodes. As the change was planned (as opposed to emergent), a suitable model was Lewins three-stage model of planned change (Lewin 1951)  [5]  . The use of this model in the National Health Service (NHS) is widely documented and has underpinned the successful changes in many of the research papers read  [6]  . It is also a simple model which is not overly prescriptive and so does not restrict individual practitioner creativity (Cameron and Green 2005). The three stages of planned change according to this model are: unfreezing the existing equilibrium (Unfreezing); moving to a new point (Movement) and refreezing the changes into practice so that they become embedded in practice (Refreezing). My change management project is currently part way through the Movement stage as the change has not been fully implemented or evaluated yet I continue to lead this project  [7]  . Lewin (1951) suggests that in the changes preliminary stage, factors which will drive or resist the change should be identified. This process is known as Force Field Analysis (FFA) and will identify the change enthusiasts, the potential objectors and the undecided (Turner, 2001) (see Appendix Three for the FFA carried out at this stage). Lewin (1951) asserted that change occurs as a result of a shift in the equilibrium between the opposing forces (those which resist change) and the driving forces and is thought to be more likely to occur successfully if restraining forces are removed rather than by simply increasing the driving forces. Hussey (1998) exercises a word of caution at this juncture warning that an increase in the driving forces may lead to an increase in the restraining forces, however if the driving forces outweigh the restraining forces, there is a positive climate for change (Cameron and Green 2005). After analysing the force field I could see that the driving forces o utweighed the resisting forces and so confirmed that the change was needed and realistic. Leaders motivate their staff by inspiring vision and encouraging followers to share in that vision (Bennis 1997, Davidhizar 1993) and like in Kassean Jagoos study (2005), the unfreezing stage was initiated by facilitating peoples thoughts on the current situation (Greaves 1999)- stimulating ideas for how to change the current situation  [8]  . As people can only be empowered by a vision that they understand (Sheldon and Parker 1997), it is paramount that strategies are used to foster inclusion and participation so that all team members are fully aware of the impetus for change. For change to be successful and enduring, Kouzes and Posner (1987) say that it is imperative that the leader encourages team ownership of the vision by encouraging their participation in the project. Without participation failure is likely to result due to resistance from team members. It is vital to the success of the change that it is perceived to be needed by those that will be affected by the change ( Marquis and Huston 2000) and so to raise awareness of the issue and create dissatisfaction with the current state (Lewin 1951), I introduced my ideas at a team meeting. On reflection, I can identify aspects of transformational and situational leadership in how I shared my ideas and interacted with the team. Most team members agreed that risks to lone working needed to be reduced and willingly offered their ideas (see Appendix Four). Encouraging team input and facilitating problem solving are key features of the supportive behaviours exhibited by the situational leader (Northouse 2004). Situational leadership was developed by Hersey and Blanchard (1977) and assumes the leader adapts their style according to a given situation  [9]  . This style has two main types of intervention: those which are supportive and those which are directive. The effective situational leader is one that adjusts the directive and supportive dimensions of their leadership according to the needs of their subordinates (Northouse 2004). As most team members were highly motivated in the project, freely offering suggestions and ideas, a directive role was not needed. The supportive behaviours I employed encouraged a participative approach characterised by the use of finely tuned interpersonal skills such as active listening, giving feedback and praising (Marquis and Huston 2000) which can be likened to a Skinnerian approach of positive reinforcement. In retrospect I can identify my correct use of this leadership style by looking at a later development of this model which introduced a further dimension to the leadership style: the developmental level of the participants. This is ascertained by assessing workers competence and commitment to completing the task. The member of staff that appeared to take little interest and was not able to offer ideas displayed a lower developmental level compared to other team members and hence I directed her more using the coaching behaviours advocated by Hersey and Blanchard (1977). This coaching promoted inclusion and participation by: giving encouragement, soliciting input and questioning the participant on what they thought of the proposals and the changes they would like to see. This was done to increase levels of commitment and motivation (Northouse 2004) and thus integrate that team member into the change process. On reflection this can also be identified as an example of reducing the resist ing factors to the change within the force field as by adapting to the needs of that team member, she was encouraged to take part and share ideas rather than hinder progress and potentially thwart the change. A model which places great importance on the needs, values and morals of others is transformational leadership (Northouse 2004; RCN 2005) and elements of this could be identified in my leadership. The needs of staff could be regarded as the need to stay safe, and values may be their desire to get home to their families at the end of the day. I was aware that on face value, looking at improving safety for lone workers would perhaps not appear to be an issue that would provoke much excitement, or according to Kotter (1999) light a fire. However, I articulated my vision in terms of getting people to consider the impact of what the consequences could be if we were to be a victim of an adverse incident. When discussing the impact of this with staff and getting them to consider the impact of not changing practice, of how their lives and their families lives could potentially be affected, I created motivation within the team to examine working practices. This was confirmed to me as many of the staff showed their interest by their offering of ideas to meet this challenge. By tapping into the moral dimension of a proposed change i.e. promoting the need to contribute in order to protect the safety of not just themselves but also the wider team, the transformational leader further inspires staff to change by motivating followers to transcend their own self-interest for the sake of the team and organization (Bass 1985). Once the vision had been shared and accepted by the team, several strategies were discussed that could contribute to risk reduction (Appendix Four). At this stage it was realistic to focus on a single change. A reason for this was because McIntosh (2000) highlights that many changes focus on the needs of the organisation (e.g. to provide certain services or to implement Government policy) and often overlook the needs of the employees. Applied to this case, there was an organisational need to manage risk but this had to be balanced with not overwhelming the team with too many changes at once  [10]  . At the meeting it was decided by the team members present  [11]  that the simplest intervention to implement would be to phone into the clinic base administrators when finishing their shift to notify that they had finished work for the day and were safe  [12]  . Although the proposed change would not eliminate the risk of an adverse incident occurring, it would ensure that should an incident occur, it would be identified and acted upon as swiftly as possible and thus the risk would be managed more effectively. Vroom and Yetton (1973) propose five types of considered decision-making ranging from that which may be expected of an autocratic manager i.e. a decision is made by the leader entirely alone, through to a democratic approach whereby the matter is discussed with the whole team and a consensus decision is made. When analysing my own management stance it was clear that my style had been distinctly democratic as I had sought to include everyone and promote consensus decision-making. I demonstrated sensitivity and appreciation of the pressures that others were under by ensuring that those not present at the meeting were included in the decision-making process as open consultation with key stake holders often leads to the successful introduction and adoption of change (Phair and Good 1998, cited in Deegan et al 2004). This contributed to creating a climate of a learning organisation. A learning organisation is one where all members are encouraged to increase their capacity to produce resul ts they care about (Karesh 1994) and one which promotes the exchange of information between members in order to create a knowledgeable workforce. I was determined that those who could not attend the meetings still be part of the decision making process. However there were difficulties with this as due to being in practice just two days a week meant that it was unrealistic to consult each absent worker individually and so I emailed out meeting minutes from the meeting and invited feedback  [13]  . Although the use of email to communicate ideas is one of the least popular ways to receive information, it was one of only a few methods available to me and hence justified its use. Without using this medium, communication with the team would have been compromised and could have led to some team members feeling they had been excluded from the decision-making process. Further analysis of this point reveals my own concern that all the follow up and meetings needed to be done by myself whe n perhaps this could have been delegated to someone else. With regard to situational leadership, if team members are motivated and committed to the change, the leader can assume a more passive role where they let team members take responsibility for doing the job and refrain from giving unnecessary support (Northouse 2004). This perhaps reveals Theory X management style traits (McGregor 1960) whereby the manager feels the need to keep a tight grip on staff perceiving them to need coercion to achieve tasks, deeming them to possess little capacity to explore and solve problems spontaneously without direction. This approach may convey distrust of the team (McGregor 1960) and was therefore not an ideal management style in the actual situation I was in. Rather than viewing this as a weakness however, it must be viewed as an opportunity to explore my assumptions of the team, assessing whether my assumptions had any grounding in reality or whether this style was assumed due to my inexperie nce leading and hence insecurities about the role. Reaching a consensus on the change to implement was an example of how in situational leadership, decision-making can be shared between the leader and motivated followers (Hersey and Blanchard 1977). From a management point of view, this participative approach facilitates the process of completing the task but it is also an example of how leaders empower their teams by transferring some of their power to the follower to enable them to be active participants in the decision-making process. After confirming the change intervention, the safety plan was devised (see Appendix Six). This was a contingency plan detailing the steps to take should a team member fail to report in. The team agreed that I should draw this up due to my previous experience of using one. As the manager is responsible for ensuring a task is completed on time and is done efficiently (Stewart 1996) there was no reason for this task to be delegated elsewhere as this would have taken up time and hence been an inappropria te use of resources. During the movement stage, I positively reinforced the importance of the change by acting as a role model. Role modelling is a key feature of transformational leadership whereby the leader demonstrates specific types of behaviours that they want their followers to adopt (Northouse 2004). Stewart (1996) also reports that the greatest power as a leader is the example that you set (p.25) and so I did this by ensuring that I implemented the proposed changes i.e. I always reported into base on finishing work even before the agreed implementation date. The change is currently in the latter stages of the Movement phase with implementation and evaluation still required to complete the phase  [14]  . Refreezing is the final stage of Lewins model and involves the change agent (myself) supporting staff to integrate the change into practice so that it becomes part of the status quo (Marquis and Huston 2000) ensuring that over a period of time everyones practice changes and there is no chance of reversion to former ways. A strategy for the future development of the change and to conclude the refreezing stage would be to carry out an evaluation to determine the changes effectiveness. A summative (or outcome evaluation) could be conducted to investigate: whether the intervention is effective in reaching planned goals; what happens to the participants as a result of the change and whether it is worth continuing with the change intervention (Robson 2003). The first question could be assessed by carrying out a risk assessment of the hazards faced by lone workers including strategies in place to reduce risk. The HSE (2005) detail a five-step risk assessment guide that can be carried out to assess the extent of risk post-intervention. Ideally a risk assessment should have been carried out in the unfreezing stage and thus provide a baseline to compare against. Another strategy to obtain objective data would be to keep a copy of all reporting-in records which should identify those failing to report in  [15]  . Although this appears to be a policing measure which may imply distrust for staff (typical of a Theory X manager, McGregor 1960), it may be the only way of conclusively being able to tell if people are actually putting the new change into practice. If an audit of these records revealed certain team members were not engaging in the process and were having to be chased by administrators to ascertain whether they had finished work safely, I would use responsive leadership skills incorporating effective interpersonal communication to work with these staff members to identify what the problems and issues were. It is vital that this is done as if ignored these resisting factors could impede the change and failure could result (Hussey 1998). A key goal of refreezing is supporting those involved so that the change remains in place (Marqui s and Huston 2000) and so this audit may reveal those who need further support  [16]  . The change detailed in this case study has first and foremost considered the needs of the employees (i.e. to be safe in their lone work) yet has many benefits for the wider organisation and staff: potentially decreased litigation due to decreased adverse incidences affecting staff, increased recruitment and retention due to the organisations increasing attractiveness as a supportive employer and many more. This highlights effective use of a combination of leadership skills to inspire and motivate staff coupled with the ability to function in a management capacity by directing changes necessary in order to meet the organisations requirements (Marquis and Huston 2000). Change management requires well-developed leadership and managerial skills (Marquis and Huston 2000). However as a student health visitor many of these skills were far from being well developed and rather than use and manipulate models as I went along, elements of models such as transformational and situational were recognised retrospectively. However in doing so my knowledge of the theoretical underpinning has been developed and consolidated arming me with a plethora of skills to draw on in future. Northouse (2004) states that leadership style refers to the behaviours shown by an individual who attempts to influence others. I felt this was a daunting task as in my student role I felt very much the subordinate as opposed to the leader. However, Government papers such as Making a Difference (DH 1999) stress for the need to develop leadership at all levels meaning it is not an activity reserved for the upper echelons of an organisation (Garvin 1996). I found it hard at times to reconcile the requirement to develop leadership skills with the need to embrace evidence-based practice as the two often clashed due to the fact that there is little empirical evidence of the effectiveness of many leadership models (Northouse 2004) including those I used. To further illustrate this point Wright and Doyle (2005) conclude it is impossible to say how effective transformational leadership is with any degree of certainty and it is not possible to say here that another approach would have been more effective without trying it. Northouse (2004) also criticises other models of leadership including situational leadership, and questions their validity commenting that they are under-researched and with few published research findings. I had not viewed myself as a born leader and coupled with my student status, I felt nervous embracing a leadership role. Marriner-Tomey (1996) however asserts that leadership skills can be developed over time, indicating that skills can indeed be learnt, dispelling the myth that leaders are born not made. This provides me with reassurance that with further experience of leading in practice, along with a deeper knowledge of leadership theory, I may become a more effective and inspiring leader. References Bass, B. M. (1985) Leadership and Performance Beyond Expectation. New York, Free Press. Baulcomb, J. (2003) Management of change through force field analysis. Journal of Nursing Management. 11. pp. 275-80. BBC News (2006) Man held as charity worker killed. News item [Internet], BBC. Available from: [Accessed 20th May 2006]. Bennis, W. (1994) On becoming a leader. NY, Perseus Press. Burns, J.M. (1978) Leadership. New York, Harper Row. Cameron, E. and Green, M. (2005) Making sense of change management: a complete guide to the models, tools and techniques or organisational change. London, Kogan Page. Chappell, D. and Di Martino, V. (2000) Violence at work. 2nd ed. Geneva, ILO. Davidhizar, R. (1993) Leading with charisma. Journal of Advanced Nursing. 18. pp. 675-9. Deegan, C., Watson, A., Nestor, G., Conlon, C. and Connaughton, F. (2004) Managing change initiatives in clinical areas. Nursing Management. 12 (4), pp. 24-29. Department of Health (1999) Making a Difference: strengthening the contribution of nursing, midwifery and health visiting. London, HMSO. Department of Health (2001a) Shifting the balance of power: securing delivery. London, HMSO. Department of Health (2001b) Health visitor practice development resource pack. London, DH. Department of Health (2002) Liberating the talents: helping PCTs and nurses deliver the NHS Plan. London, HMSO. Elkan, R., Kendrick, D., Hewitt, M., Robinson, JJA., Tolley, K. and Blair, M. (2000) The effectiveness of domiciliary health visiting: a systematic review of international studies and a selective review of the British literature. 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Available from: Appendices APPENDIX ONE Health and Safety Legislation in Practice. The Lone Worker Policy (SYPCT 2006) in my practice area is heavily influenced by the Health and Safety at Work Act (HSE 1974) and the Health and Safety at Work Regulations Act (HSE 1999 cited in SYPCT 2006) which stipulate the duties of the employer  [17]  and the employee  [18]  . The more recent legislation requires employers to assess the nature and scale of any workplace risks to health and ensure there are proper control measures to reduce or eliminate risk. Although the policy encompasses the relevant legislation and raises awareness, its aims are particularly broad and apart from indicating particular training, there are few suggestions of good practice to help staff understand exactly how they can take reasonable care. It was also evident that although Lone Worker safety training was mandatory, fewer than half of the members of the team had accessed this within the l