Financial Reporting Essay Example | Topics and Well Written Essays - 2500 words

Financial Reporting - Essay Example Table of Contents Table of Contents 3 Introduction 4 AASB 101 â€Å"Presentation of Financial Statements† 4 AASB 107 â€Å"Statement of Cash flows† 7 AASB 116 â€Å"Property Plant & Equipment† 8 AASB 138 â€Å"Intangible Assets† 9 AASB 136 â€Å"Impairment of Assets† 10 AASB 137 â€Å"Provisions, Contingent Liabilities and Contingent Assets† 10 AASB 112 â€Å"Income Taxes† 10 AASB 110 â€Å"Events after the Reporting date† 11 Overall evaluation and objectives of reporting 12 Introduction A fair and comprehensive disclosure of information requires that the entity adheres to certain accounting norms. The financial statements of a company must be prepared in conformance with the relevant accounting standards. There are accounting standards which prescribe the accounting treatment of intangible assets, contingent assets, contingent liabilities, presentation of statements etc. The adoption of these accounting standards in the case of Early Learning Services Limited has been reviewed as to whether the company has prepared its financial reports as per the accounting norms. AASB 101 â€Å"Presentation of Financial Statements† The accounting standards to be applied in Australia with effect from January 1, 2005 include International Financial Reporting Standards (IFRSs). International Accounting Standards Board (IASB) issues IFRSs. For reporting periods commencing on or after January 1, 2009 IASB made certain amendments to the IAS 1 ‘Presentation of Financial Statements’. In line with this AASB also made certain amendments to AASB 1 ‘Presentation of Financial Statements’ for enabling IFRS compliance of the reporting entities in Australia. The major changes to this standard as compared to AASB 101 issued in the year 2006 are discussed as under- Making the reporting comprehensive- The revised standard brings in a notion of ‘completeness’ in financial reporting. Previously this standard used the heads ‘balance sheet’ and ‘cash flow statement’ to refer to the two statements. On the other hand the revised standard uses ‘statement of financial position’ and ‘statement of cash flows’ to describe the above statements. As per the new rules an entity has to present comparative information with respect to the previous year. Disclosure relating to changes owners’ equity- Previously AASB 101 required items relating to expenses and income which are not shown as profit or loss to be reported in ‘statement of changes in equity’. The previous standard also required preparation of ‘statement of recognized income and expense’ comprising of profit or loss in the statement of changes in equity, any affects of accounting policy changes and any correction related error. The new amendments require â€Å"owner changes in equity† to be reported separately from â€Å"non-owner change s in equity†. The detail relating to comprehensive income is not permitted to be presented in the â€Å"statement of changes in equity†. The main aim of this is to integrate items with similar characteristics and separate items with varying characteristics to disseminate useful information. Changes relating to â€Å"Other comprehensive income†- As per the revised standard an entity has to make disclosure of income tax relating to each comprehensive income component. This was not required as per previous AASB 101 version. Dividend presentation- As per old AASB 101 the amount of ‘

Leadership approach and style in starbucks

Leadership approach and style in starbucks Q3.In publish statement, the CEO of Starbucks said if they had faith in me and my motives they wouldnt need a union (Seattle times 2.1.2007). What does this statement tell you about the CEOs view of leadership? Making reference to appropriate models and theories of leadership, provide a critical evaluation of the leadership approach and style in Starbucks. Introduction: Starbucks was started in early 70s by three friends and they introduced the beans coffee and its equipment to the market. Howard Schultz was a visionary person and he joined the company as a manger in Starbucks. Howard Schultz had the vision for the company and getting an idea of ready-to-drink coffee in a mug from Italy and introduced it in the Starbucks. He left the company in 1985 and started his own coffee shop with the name of Gironale. He always interested in Starbuck due to its inner capabilities. He bought the company in 1987 when previous owners decided to sell the company. Under Howards supervision and leadership, Starbucks grew rapidly. Schultz received an International Humanitarian Award in 1996. CEOs view of leadership: Many Scholars define leadership differently Leaders are individuals who establish direction for a working group of individuals who gain commitment form this group of members to this direction and who then motivate these members to achieve the directions outcomes (Conger, 1992). Chemers, M. M. (2002) Leadership is a process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task. CEO of Starbucks always admire people with talent and new ideas, he hired Howard Behar and Orin smith as financial and operational Managers. Starbucks achieved number of milestones under Schultz leadership and became the first private company in North America which provide benefits to part-timers and full-timers. According to the Starbucks CEOs statement If they had faith in me and my motives they wouldnt need a union reflects his powerful communication democratic skills as a leader. Exemplary leaders are devoted to building relationships based on mutual respect and caring (Watson, 1983). The mark of a successful leader is his ability to forecast the business trends and stay ahead of his competitors (Luthans, 1998). CEOs Motives: Howard believes in treating people with respect and dignity. He always cared about his employees and gave them the opportunities to come forward and show their abilities for the company. In 1999, Schultz stepped down from the post of CEO for Smith and continued as chairman and chief global strategist of company. According to Howards, treat people like family and they will be loyal and give their all and on his philosophy Starbucks created different benefit programs for employees including part timers. It consist of stock share plan, work life balance etc. Schultz played a major role in developing an employee ownership program at Starbucks shortly after he bought the company. He introduced Bean Stock plan in which all employees were eligible to get the shares of the company. Make them feel like an owner improved employees performance and to retain them. It boosted employee commitment and maintained low employee turnover (Long, 2002). Leadership Approach and style in Starbucks: For evaluating the approach and style in Starbucks I would like to take the help of some theories based on leadership approach and the style of leadership. According to Vechhio (2000) that Leadership might be based on function of personality or it can be seen as a behavioural category. Leadership is the act of influencing the performance of a prearranged set in its efforts toward goal scenery and goal attainment (Stogdill, 1950). Theories of Leadership Style and Approach: Charismatic leadership According to the researchers Charismatic leaders are those who persuade their followers because they have Unspoken capabilities in their communication or personality etc. researchers says that leaders communicate their ideas in such a way that they encourage their followers to achieve his vision (Jacobsen and House, 1999). According to Conger (1989) charismatic leadership approach is process of creating idea and persistent evaluation of the environment, corresponding vision by motivating and convincing arguments, structuring faith and commitment, attaining the vision by giving employees empowerment, using simple stories etc. Howard Schultz using this approaches provided them better work environment, involved them in decision making and also having a vision for rapid expansion which he communicated to his employees. Transformational Leadership Transformational leaders form a relationship of mutual stimulation and elevation that converts followers into leaders and may convert leaders into moral agents (Burns, 1978). The facts mentioned in case study about Howard Schultz shows that with different qualities of his leadership he was also a transformational leader. Schultz in early expansion of his business he transform a new strategy for the business and keep on introducing new things for the benefit of the company and for its employees. The transformational leaders motivate followers to do more than originally expected. Transformational leadership is consists of four basic components, Idealized influence, inspirational motivation, Intellectual stimulation and Individualized consideration (Bass, 1985). Howard Schultz being a tycoon for the employees, it is likely to attract and motivate workers. In a company people look for its leaders Vision, passion, Decision-making and team building qualities (Vogan, 2007). Understanding the way of leadership we can refer to these approaches: Traits approach: Leaders are born and consists of certain inherited characteristics or personalities traits. The functional approach: Leadership skills can be learned and developed. Leadership as behavioural category: the kind of behaviour of people in leadership and influence on group performance. Style approach: concerned with effects of leadership on those being led. Contingency models: deals with importance of situations. Interactions between the variables involved in leadership situation and behaviour. If we look at the case study we can determine that in Starbucks Howard Schultz approach is more towards functional and style approach as he offered his employees opportunities to become leader and give them learning and development environment to polish their skills to fulfil the goals for the company. Need of a Union: Trade unions are group of people agreed together to achieve shared interests. Union is a blend of the group of employee and the organization. Unions works for their members to defend them from exploitation, collective bargain for wages and work condition, and career development. There is always a need of a union in any trade to preserve the benefits for both company and the employees (Flanders, 1970). Conclusion: According to the case study, Schultz being a leader treats his partners well and provided them with bundles of benefits and helped them in all kinds of problems but on the other hand Schultz did not realise the need of a trade union in the company which can also be beneficial for the company. He sacked every one who tries to join a union it shows that he is also a democratic leader. References: Bass, B. M. (1985). Leadership and Performance Beyond Expectation. New York: Free Press. Bass, B.M. (1990). Bass and Stogdills handbook of leadership. New York: Free Press. Burns, J.M. (1978). Leadership. New York: Harper Row. Chemers, M. M. (2002). Cognitive, social, and emotional intelligence of transformational leadership: Efficacy and Effectiveness. In R. E. Riggio, S. E. Murphy, F. J. Pirozzolo (Eds.), Multiple Intelligences and Leadership. Conger, J. (1992). Learning to Lead. San Francisco: Jossey-Bass. Conger, J. (1989). The Charismatic Leader. San Francisco: Jossey-Bass. Long, R. J. (2002). Strategic Compensation in Canada. 2nd ed. Scarborough, Ontario: Thomson Learning. Flanders, A. (1970). Management and Unions, Faber Faber. Jacobsen, C. and House, R. J. (1999). The rise and decline of charismatic leadership http://leadership.wharton.upenn.edu/1_change/publications/House/Rise%20and20%Decline%20of%20Charismatic%20Leadership%20-%20House.doc. Last accessed 12th July 2009. Patty Vogan, (2007). Five Key Traits of Great Leadership. Stogdill, R. M. (The Ohio State University Columbus, 1950). Leadership, membership and organization. Psychological Bulletin 47, p3. Vecchio, R. P. Organizational Behavior: Core Concepts, Fourth edition, Dryden Press. Question 4: Motivated and committed human resources were the key to success. What strategies has Starbucks used in order to gain the motivation and commitment of its employees? With reference to appropriate theories and models, provide a reasoned discussion of how the company can ensure the levels of motivation and commitment that it needs to succeed in the future? Committed Motivated employee: A lot of present-day authors have defined the concept of motivation. They defined motivation as it is a mental process that gives behaviour purpose and direction (Kreitner, 1995), a propensity to act in a purposive way to attain specific, unmet desires (Buford et al, 1995), an internal drive to satisfy an unsatisfied need (Higgins, 1994) and the will to attain (Bedeian, 1993). Motivation is also stated as the inner strength that makes individuals to attain individual and organizational goals. Earlier employees were used as an extra input into the manufacture of commodities and facilities. However Hawthorne Studies may have changed the way of thinking about employees which was carried out by Elton Mayo from 1924 to 1932. This study shows that employees are not motivated by money only but also their behaviour is linked to their attitudes (Dickson, 1973). In this current age every company need motivated and committed employees to achieve there strategic goals so as the Starbucks. Motivation program in Starbucks: Case study shows that in Starbuck motivated and committed employee have a great importance. Therefore Starbucks always put an extra input to assure recruiting motivated employees and after attaining them. Starbucks offers an interactive structure that encourages employees to commit themselves into their job and achieve a new level of performance. Howard Schultz knew the importance of the benefits to retain the employee that is why he introduced such benefits perks which was highly beneficial of the staff. He gave those benefits for both part and full time employees. According to Pinder (1998), Work motivation is a set of energetic forces that originates both within as well as beyond an individuals being, to initiate work-related behaviour, and to determine its form, direction, intensity, and duration. Starbucks included paid vacation, sick leave, health benefits and stock options. It also offered flexibility in working hours for the workers and one-size fits all benefit for the employees, this benefit was also adopted by different service provider companies. Company also introduced Bean stock program for the employees. Starbucks applies different strategies to hire and attain their employees. Starbucks strategies to gain motivation commitment from its employees: After reviewing the case study, I identified some elements by using Starbucks achieve motivation and commitment from the employee. Selecting the right candidate for the job according to the criteria they have set. Investing on employee training and development and teaching them three main star skills enhance self esteem, listen and knowledge and ask for help. Empowering the employees by involving them in decision making. Giving employees flexible work hours to achieve work-life balance. Feed back system for the employees Equality in the status caption to show every one is equal. Giving them Owner ship by selling company shares to employee and labelling them as partners. As a result Starbucks kept growing in the market and expanded worldwide. Starbucks has low turnover, increase in sale and new openings of stores and good customer care. Theoretical Framework: To understand what motivated employees and how can they motivated was the centre of various researchers. There are five major theories which can make us understand about motivation which are Maslows hierarchy of need theory, Herzbergs two-factor theory, Vrooms expectancy theory, Adams equity theory, and Skinners reinforcement theory. I will discuss Maslows and Hezbergs Theory in context with Starbucks to understand the level of motivation of employees in Starbucks. Maslows Hierarchy of Need Theory If we understand Maslows theory then we come to know that he has discussed five levels of needs of an employee, physiological need, safety, social, ego and self actualisation (Maslow, 1943). According to the Maslow to motivate the employee, fulfil the lower need first and then proceed for the upper need in the hierarchy. Maslow also explained that man is a wanting animal, only an unsatisfied need can motivate its behaviour and the dominant need is the prime motivator of behaviour (Maslow, 1954). Hezbergs two factor theory According to the herzbergs there are two major factors in motivation of the employee: motivators and hygiene. They can also be known as intrinsic factor and extrinsic factor. In intrinsic such as independence, achievement in job and recognition of the work create motivation in employee, in extrinsic or hygiene factor consist on higher pay rate, promotion and penalties like disciplinary action or criticism that can create job dissatisfaction (Hezberg, 1957). In the light of these theories we can determine that Starbucks motivated its employees by empowerment, keeping their social need intact, equality in the company, investing heavily on training and development, rewarding highest pay in industry, giving them number of benefits which motivated employees intrinsically as well as extrinsically. On the other side researcher criticized that employees were not paid for work related injuries, increment was very little. Thus these kinds of factors may decrease the motivation of employees and their performance may reduce which may affect organisation negatively. According to the case study Hr policies are the best in the market and if we look at the employee turnover in Starbucks is far less than the other market turnover. In a survey Employee working in Starbucks more than 70% of the employees was satisfied by the policies in Starbucks. Howard Schultz says that You cant expect your employees to exceed the expectations of your customers if you dont exceed the employees expectations of management (www.starbucks.com) Conclusion: Fact mentioned in the case study shows that the policy of the Starbucks is well formed and beneficial for the company as well as for the employees even in the long run. Assuring the motivated employee is also well organised by the HR department in the company.

Human Cloning :: Essays Papers

Human Cloning Cloning is the reproduction of an organism created non-sexually through the genetic material of another organism (â€Å"Human Cloning†). Although human cloning has not yet happened, many people believe that it should be banned because of ethics and morals involving unnatural birth. Certain religious groups believe that cloning is unethical because it takes over God’s role of creation. Cloning is a new idea to society, and just as in the past, advances in technology and medicine have scared people because of the risks involved. This has made it easy for society to want to avoid what might happen after the process of cloning has started. However, many people do not realize how cloning can positively affect their lives. Cloning is a tremendous technological breakthrough for this century and it is an inevitable advancement for the future. One of the major benefits offered through cloning is towards couples that cannot naturally conceive a child. There are over twelve million Americans at childbearing age who are infertile, which is major problem not only in the United States, but also throughout the world (Hoon). These couples have wasted valuable time and gone through much pain with infertility treatments. Even these treatments are not very dependable and cannot guarantee positive results, so couples are still left without children (â€Å"Benefits†). Cloning embryos allows a couple not only to have a child, but also allows them to pass on their genes (Brown). This solution would provide positive results for all of the infertile couples. This is one of the problems that millions of Americans will have solved through human cloning. Aside from infertile couples, there are many other problems that human cloning will solve for people. Doctors will be able to produce the exact copy of a peoples organs and even their skin (â€Å"Benefits†). This will be a miraculous event for burn victims and those who need organ transplants. Burned victims would be able to replace their skin with artificially produced replacement tissues (Hoon). Cloning organs would save the lives of the millions of Americans waiting for liver and kidney transplants, as well.

Coors Case

Using the Consumer Questionnaire Results, 62. 1% of consumers surveyed has consumed Coors in the past; also 48. 8% liked or strongly liked Coors. We also learned in this questionnaire that 65. 2% bought their beer from supermarkets. From this consumer analysis, Larry could invest in Coors and make his main availability of product at supermarkets. According to the Retailer Questionnaire Results, Coors has the same taste as Miller and Miller Lite, but it is more expensive than the other brands of beer sold. B. Market Share: Using the Table C: The Market Share estimates for a five year span all stay at a constant 8. 7-8. 9%, with consideration there are only a select few brands that Coors is competing with this should not be a problem with growth in the future. C. Investment: Total investment would include the inventory, equipment, warehouse, and land is estimated at $800,000. Larry could also use his trust fund if needed, $500,000 to start an Owner’s Equity Account. D. Cost: (Fixed, Variable, Prices): Fixed Cost for Larry’s new adventure would be $240,000 that includes salaries, equipment depreciation, warehouse depreciation, utilities / telephone, insurance, maintenance / janitorial and miscellaneous expenses. Variable cost would depend on the production level. As for Prices, it is perceived that Coors is high priced but if they were to lower the price to the price of Michelob, there could be an increase of sales. E. Go or No Go: I would have to say Larry should go for Coors Distributorship.

Importance of Strategic Management Essay

1.Functions Of Strategic Management defines the strategies of the organization. The strategy definition is when the organization decides what its objectives are and goes a step further in achieving its goals. The top managers are the one who define the organization strategy, but the company workers put the effort to achieve the goals. 2.The other Functions Of Strategic Management is to develop or form the strategic plans of the firm. The strategic plans are attached to the departments of the organization and may be a certain thing the department may want to achieve for the benefit of the entire organization. For example a sale department may have plans to increase the sale with a certain percentage. To achieve the plan, the sales department may consider promoting the company products or developing a new product. 3.One of the major Functions Of Strategic Management is to instil change in the organization or what is called the strategic implementation. Strategic implementation in an organization is faced with many challenges such as workers refusing to have changes in the organization. At such time, it is difficult for an organization to achieve its goals. However, Functions Of Strategic Management help to come up with a strategy addressing the influential people such that they will be able to motivate other employees into accepting the change. 4.The last main Functions Of Strategic Management is to check or to monitor the success of the strategies already put. Monitoring involves checking if the strategies are performing in accordance to the expectation of the top manager. If the set strategies are not performing as expected, then the problems affecting the success can be addressed and necessary measures put to bring the strategy on track. 1.Strategic management takes into account the future and anticipates for it. 2.A strategy is made on rational and logical manner, thus its efficiency and its success are ensured. 3.Strategic management reduces frustration because it has been planned in such a way that it follows a procedure. 4.It brings growth in the organization because it seeks opportunities. 5.With strategic management organizations can avoid helter & skelter and they can work directionally. 6.Strategic management also adds to the reputation of the organization because of consistency that results from organizations success. 7.Often companies draw to a close because of lack of proper strategy to run it. With strategic management companies can foresee the events in future and that’s why they can remain stable in the market. 8.Strategic management looks at the threats present in the external environment and thus companies can either work to get rid of them or else neutralizes the threats in such a way that they become an opportunity for their success. 9.Strategic management focuses on proactive approach which enables organization to grasp every opportunity that is available in the market.

Pepsico Ethics and Compliance Essays

Pepsico Ethics and Compliance Essays Pepsico Ethics and Compliance Paper Pepsico Ethics and Compliance Paper PepsiCo Ethics and Compliance FIN/370 – Finance for Business PepsiCo Ethics and Compliance PepsiCo Inc. is a world leader in the beverage and snack food industry. Founded in 1965, the company has grown to become a household name. PepsiCo employs more than 285,000 employees worldwide, and has revenues of more than $60 billion (Our History, 2011). PepsiCo prides itself on social and environmental responsibility, and maintains a commitment to ethical business practices. Role of Ethics and Compliance in PepsiCo’s Financial Environment The management at PepsiCo realizes that reputation hinges on adherence to ethical policies as seen in the public eye. Because of this, PepsiCo has interwoven ethics throughout the company’s policies and procedures, its training practices, and its timely and accurate financial reporting. As evidence of such, in 2010 Ethisphere Magazine ranked PepsiCo one of the world’s most ethical companies. The magazine also placed PepsiCo in the top 25% for compliance performance among beverage industry competitors in the Dow Jones Sustainability World Index (Ethisphere, 2010, Sec. 0). PespiCo’s letter to the Shareholders (2010) states, â€Å"our actions- the actions of all our associates- are governed by our Worldwide Code of Conduct†¦the Code and our core values enable us to operate with integrity- both within the letter and the spirit of the law† (p. 102). The letter further states that Pepsi Co is â€Å"committed to providing timely, accurate, and understandable information to their investors† (p. 102). PepsiCo displays its ethical commitment by maintaining strong controls over financial reporting, exerting rigorous business oversight, and requiring strong and effective corporate governance from its board of directors. The company is committed to providing investors with financial results that are â€Å"complete, transparent, and understandable† (Annual Report, 2010, p. 102). To ensure adherence to these ethical principles, PepsiCo employs an independent registered public accounting firm to audit its financial statements and those of its subsidiaries. The firm also audits PepsiCo’s internal control over financial reporting according to the guidelines set forth in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Audits are conducted in accordance with the Public Company Accounting Oversight Board (Annual Report, 2010). PepsiCo has some of the highest standards for maintaining corporate governance. PepsiCo shareholders elect members of its board of directors annually. Outside advisory firms help watch over the company and give advice to the board of directors. Some of the advisory firms include Institutional Shareholder Services and Governance Metrics International. PepsiCo maintains strict company standards and accountability, and holds all employees responsible for their actions. Ethics Training and Code of Conduct PepsiCo conducts regular code of conduct training to keep the company in harmony with legal and ethical compliance. The PepsiCo brand is recognized worldwide, and company leaders are very conscious about maintaining a strong ethical company. PepsiCo’s has translated its code of conduct training into 38 languages, and this tool helps the company maintain the highest ethical behavior worldwide. PepsiCo prides itself on reporting earnings to the shareholders through ethically sound financial statements. PepsiCo demonstrates to the business world a commitment to honesty and compliance with industry standards, along with the stiff regulations of the SEC, Security Exchange Commission. PepsiCo reports all financial dealings and strives to report correct statements to its shareholders (Silverblatt, 2010). Business Ethics Leadership alliance PepsiCo is a member of the Business Ethics Leadership alliance (BELA), an organization committed to raising public awareness of the importance of ethics in business. BELA promotes development of higher standards of corporate compliance and sharing best practices. Other members include Walmart, United Airlines, GE, and McDonald’s. Through BELA, PepsiCo and approximately 50 other companies demonstrate the importance of integrity over a bigger bottom line. To be a member of BELA, a company must be able to prove its dedication to stringent policies to weed out corruption, waste, and demonstrate procedures to lead its employees effectively. BELA’s goals are to affirm a public commitment to certain ethical principles and compliance practices, and to provide public resources for BELA members to uphold their commitment and other companies to follow their lead Ethisphere, 2011). PepsiCo is â€Å"strongly committed to delivering sustained growth through empowered people acting responsibly and building trust† (Worldwide Code of Conduct, 2011, para. 2). Pepsi seeks not only to be a dominant company in the food and beverage industry but also a leader in conducting ethical business behavior. PepsiCo Financial Analysis Financial stateme nts provide management and investors information on the financial health of the organization, and how its assets are financed. They must be clear, unbiased, and conform to generally accepted accounting principles. Ratio analysis of financial data gives insight into the liquidity, asset utilization, profitability, and leverage of an organization. This analysis can be used to compare an organization with its competitors and industry leaders (Mayo, 2007). Current ratio=Current assetsCurrent liabilities Period Ending| Dec 25, 2010| Dec 26, 2009| | | | Total Current Assets | 17,569,000| 12,571,000| Total Current Liabilities | 15,892,000| 8,756,000| Current Ratio | 1. 11| 1. 44| The current ratio in the year ending December 2010 was 23% lower than the previous year. This indicates a reduction of liquidity from the prior year. PepsiCo’s current ratio is lower than the industry average of 1. 2 and the SP 500 average of 1. 4 (Pepsico Inc (PEP. N), 2011). Debt Ratio= Total debtTotal assets Period Ending| Dec 25, 2010| Dec 26, 2009| Total Liabilities | 46,989,000| 23,044,000| Total Assets | 68,153,000| 39,848,000| Debt Ratio | 69%| 58%| The firm’s debt ratio increased 11% in the year ending December 2010 over the previous year. This means that PepsiCo financed more of its assets with debt in 2010. From a shareholders perspective, this can be a positive indicator. Because the firm has not added equity through stock sales, stockholders may expect a larger share of the profits returned as dividends. PepsiCo’s debt ratio is higher than the industry average and the SP 500 average (Pepsico Inc (PEP. N), 2011). Return on Equity ROE= Net incomeOwners equity Period Ending| Dec 25, 2010| Dec 26, 2009| Net Income | 6,320,000| 5,946,000| Total Stockholder Equity | 21,273,000| 16,908,000| Return on Equity | 29. 9%| 35. 4%| PepsiCo experienced a 17. % decline in their ROE from 2009 to 2010. This indicates a reduction in total returns paid to stockholders. Because the net income increased by $374 million and retained earnings increased by nearly $3. 3 billion during the same period, the decreased ROE is likely a result of the increased use of debt rather than equity to finance operations. PepsiCo’s ROE is lower than the industry average of 34. 7, but higher than the SP 500 aver age of 28. 2 (Pepsico Inc (PEP. N), 2011). AR Turns=Total RevenueNet Receivables Period Ending| Dec 25, 2010| Dec 26, 2009| Total Revenue | 57,838,000| 43,232,000| Net Receivables | 6,323,000| 4,624,000| AR Turnover| 9. 15| 9. 35| Days Receivable=365AR Turnover Days| 365| 365| AR Turnover| 9. 15| 9. 35| Days Receivable| 39. 9| 39. 0| | | | Days receivable increased slightly in 2010 to 39. 9. This means that it takes PepsiCo almost a full day longer to collect revenue other companies owe. If this trend were to continue, it could negatively affect PepsiCo’s cash flow. $6. 3 billion in net receivables represents 9% of the company’s total revenue. Compared with the industry average of 35. days, and the SP 500 average of 37. 5 days, PepsiCo could improve in this area (Pepsico Inc (PEP. N), 2011). Conclusion PepsiCo is recognized as an industry leader, and prides itself on making smart business decisions in an ethically sound way. The company has taken a top down approach to ethics, and is making every effort to instill this philosophy in its employees. Although PepsiCo’s current ratio is b elow the industry average, its debt ratio and receivable turns are higher. The decline in ROE also reflects somewhat negatively on PepsiCo’s current financial situation. None of these indicators alone is enough to raise concern; however, management must evaluate these trends and internal processes to ensure they make decisions that maintain profitability and continue to return profits to company shareholders. References 2010 Annual Report. (2010). Retrieved from PepsiCo, Inc. : pepsico. com/ Download/PepsiCo_Annual_Report_2010_Full_Annual_Report. pdf Ethisphere. (2011). Business ethics leadership alliance. Retrieved from ethisphere. com/bela/ Mayo, H. B. (2007). Basic finance: An introduction to financial institutions, investment, and management, 9th ed. Mason, OH: Thompson Higher Education. Our History. (2011). Retrieved from PepsiCo: pepsico. com/ Company/Our-History. html Pepsico Inc (PEP. N). (2011). Retrieved from Reuters: reuters. com/ finance/stocks/financialHighlights? symbol=PEP. N Silverblatt (2010). Investing in Ethics. Retrieved on Oct 23, 2011 from http://money. usnews. com/ money/blogs/Fund-Observer/2010/03/25/investing-in-ethics Worldwide Code of Conduct. (2011). Retrieved from PepsiCo, Inc. : pepsico. com/Company/Worldwide-Code-of-Conduct. html

How to Dry Nails Fast Using Science

How to Dry Nails Fast Using Science The internet is full of tips that supposedly dry your nails faster, but which ones actually work? Heres a look at some of the most common ideas and whether or not they will speed your drying time. Plunging Wet Nails into Ice Water This doesnt work! If it did, dont you think every nail tech out there would be doing it? Think about it... nail polish is a polymer, formed by a chemical reaction. Lowering the temperature lowers the rate of the chemical reaction, plus it slows the evaporation of the solvents in the polish. Yes, the icy water may thicken the polish so it seems to dry more quickly, but the only way to get a hard coat of polish is to let it dry. The cold water wont hurt anything, but it wont speed things up  unless you dry your hands under an air dryer afterward. If you think this works, consider how much time you spend with your hands in ice water and compare it against normal drying. Or, conduct your own science experiment and put one hand in the ice water and leave one to dry on its own. Putting Hands in the Freezer This is not the most economical method, but its unlikely to hurt anything other than your electric bill. The cold can thicken the polish while the circulating air evaporates the solvent. Using a Blow Dryer or Fan This speeds the set of the film former (usually nitrocellulose). Just be sure you dont use so much force that you blow ripples into your polish (unless that is the desired effect). Apply a Quick-Dry Product These contain solvents that evaporate quickly, pulling the liquid in the polish along with them. Apply Cooking Spray Whether or not this works depends on the product. If you simply pressurize oil, youre not going to see much of an effect aside from moisturized hands. On the other hand (hah), if the spray contains a propellant, it will evaporate quickly, acting like a quick-dry product. Spray Nails with Canned Air Again, this works much like a quick-dry product. Canned air is a little expensive, so you might want to blow keyboard chow out of your laptop and opt for an inexpensive quick-drying top coat instead. What works and what doesnt? Quick drying polish is effective, plus it matters whats in the product.

Reserved Words in Java

Reserved Words in Java Reserved words are words that cannot be used as object or variable names in a Java program because theyre already used by the syntax of the Java programming language. If you ttempt to  use any of the words below as identifiers in your Java programs, youll get an error like the one below. List of Reserved Java Keywords abstract assert boolean break byte case catch char class const continue default double do else enum extends false final finally float for goto if implements import instanceof int interface long native new null package private protected public return short static strictfp super switch synchronized this throw throws transient true try void volatile while *The  strictfp  keyword was added to this list in Java Standard Edition version 1.2,  assert  in version 1.4, and  enum  in version 5.0. Even though goto and const are no longer used in the Java programming language, they still cannot be used as keywords. What Happens If You Use a Reserved Word? Lets say you try to create a new class and name it using a reserved word, like this: // you cant use finally as its a reserved word! class finally {   Ã‚  Ã‚  public static void main(String[] args) {   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  //class code..   Ã‚  Ã‚  } } Instead of compiling, the Java program will instead give the following error: expected

Palestine-Israel Conflict 1 Essay Example | Topics and Well Written Essays - 750 words

Palestine-Israel Conflict 1 - Essay Example Though the Israel is a registered country in the United Nations but many of the countries have yet not accepted it as an independent country and claim it as ‘Jewish Occupied Palestine’. Conflict The primary cause of the Israeli-Palestinian conflict is over the land. Jews call this land Israel while Palestinians call it Palestine. Both groups consider a God given right to the territory and base their arguments with the God promise that he did with Ibrahim in Bible. Since both opponents were once part of the same group of people who inherited what they consider as Promise land. The conflict gets harsh with Israelis continuous to deny the Palestinian refugees right to get back to their country which is unacceptable to the Palestinians too. Secondly, some people claim that it is also the fight over water. As water is a very rare source in the Middle East territory so it adds intensity to the issue. Much of the water sources in the region are currently in Palestinian territor y, however Israelis have total control over it. But for sure this war has become a war of ethnicity than anything else. Cause For many centuries there was no conflict in the territory of Palestine and Israel for many centuries. Around 85percent Muslims, 10 percent Christian, and 5 percent Jews were leaving peacefully in the territory till 19th century. Early in the 19th century, a group in Europe decided to take possession of this land, they were called Zionists who were represented an extremist minority of the Jewish population. The major goal of Zionists moment was to create a Jewish homeland. First they thought to create it in Africa or in America but later came to consensus to locate it in Palestine. Thus, they started migrating to the Promise land and started buying the major lands there. At the start, they did not have any problems and the territory remained calm but later, when Palestinians realized they broke out and came to a war with Jews in 1947-49. Five Arab states parti cipated in the war but they were unable to get into the Israeli territory. By the end of war 78% of the territory was under Jewish Control and they never let the Palestinians refugees to get back to their homeland (A Synopsis of The Israel/Palestine Conflict). Intensity of the Situation Israel-Palestine Conflict is very intense and deep. Palestinians face systematic discrimination based on their religion, race, culture, origin and ethnicity. They are deprived of the basic facilities that just across the border in Jewish areas are easily available. For Example, Palestinians have limited or no access to clean water, schooling, electricity or roads whereas Israeli territory is considered among the most modern places in the world equipped with high technological facilities for the mob. Moreover, the Army invasion every once and now at the strip of Gaza killing most of the civilians women and children who have no idea what they are being killed for. More than 10,000 Palestinian women and children are jailed in Israeli’s jail and living a miserable life facing physical and mental abuse and torture. Few of them have had a legitimate trial but nothing could make their life better. Israeli forces have a total control over Palestinian border not only externally but also internally. Israeli forces beat men, women and children; strip search them and resists them to reach to hospitals at times. Food and medicine are blocked to enter from Gaza strip causing escalating human right crises. Few of them have had a legitimate trial; Physical abuse and torture are frequent. Israeli forces invade almost daily, injuring, kidnapping, and sometimes killing inhabitants Opinion I

Financial Analysis Case Study Example | Topics and Well Written Essays - 1250 words

Financial Analysis - Case Study Example It is recommendable for Chris Miller to use the past financial performance – financial ratios of Chang Dental Clinic as well as his financial forecasts to convince the bank to loan him the required funds to purchase the dental practice. The past financial performance of Chang Dental Clinic will be useful to the bank in determining the financial performance and the capacity of the clinic to repay its debts which will then help it to determine whether to loan Miller or not. Miller should use the past financial performance of the clinic to convince the bank to loan him the required funds to purchase the practice. Liquidity ratios show the financial performance of the firm and also show the healthy level of the firm. The reason as to why Miller should use the liquidity ratios for the clinic is because the loan will be repaid by the money that will be obtained from the clinic. The performance of the clinic will determine its ability to repay the loan once it is granted to Chris Miller who will be the proprietor and owner of the clinic. Some of the important financial ratios which Miller should present to the bank are as follows: Current ratio and acid test ratio show the ability of a firm to pay for its short term liabilities. The short term assets of the clinic are able to pay for its short term liabilities since the financial ratio are more than 0.5. The debt ratio for the company has reduced significantly from 2003 to 2005. Debt ratio compares the total debt of a company to its total assets. The low and reduced percentage for the clinic indicate less risk for the clinic and that the clinic is heavily dependent on leverage and that the clinic has a stronger equity position. Increasing net profit margin or positive trend in net profit margin for Chang Dental Clinic is an indication if increased profitability. Return on assets illustrates how a

The Impact of Social Networking on Academic Performance Essay

The Impact of Social Networking on Academic Performance - Essay Example Conducting a survey of the various literature indicates that social networking positively impacts on students’ academic performance. In a study to ascertain this postulate, Helou, Abrahim, and Oye (8) observe that students use SNSs to communicate with their faculties and other authorities in the institution so as to get directions on relevant academic issues. The researchers also observed that the students use the same platform to communicate to their lecturers and supervisors who guide them on various academic issues. In fact, this improves on their relationship which fosters academic achievement. Furthermore, chatting with fellow students on topics of educational interest positively impacts on their academic performance. Taking a view from students but considering the impact on students, Jabr (94) observes that a majority of institutions have adopted collaborative teams together with scientific structures so as to offer courses through SNSs. Indeed, it has been observed that such web-based learning provides more personal and autonomous learning which are key components for successful learning. Therefore, SNSs present an effective platform for e-learning which promotes learners’ autonomy. Additional benefits that students stand to acquire for active engagement in social networking as noted by Mehmood and Taswir (113) includes improved reading skills due to constant reading associated with SNSs. The third way in which social networking positively impacts on academic performance.... These age brackets indicate students as majority SNSs’ users. Arguments Against Conducting a survey on various literatures indicates that social networking positively impacts on students’ academic performance. In a study to ascertain this postulate, Helou, Abrahim and Oye (8) observe that students use SNSs to communicate with their faculties and other authorities in the institution so as to get directions on relevant academic issues. The researchers also observed that the students use the same platform to communicate to their lecturers and supervisors who guide them on various academic issues. In fact, this improves on their relationship which fosters academic achievement. Furthermore, chatting with fellow students on topics of educational interest positively impacts on their academic performance. Taking a view from students but considering the impact on students, Jabr (94) observes that a majority of institutions have adopted collaborative teams together with scientifi c structures so as to offer courses through SNSs. Indeed, it has been observed that such web-based learning provides more personal and autonomous learning which are key components for successful learning. Therefore, SNSs present an effective platform for e-learning which promotes learners’ autonomy. Additional benefits that students stand to acquire for active engagement in social networking as noted by Mehmood and Taswir (113) includes improved reading skills due to constant reading associated with SNSs. The third way in which social networking positively impacts on academic performance as cited by Mehmood and Taswir (113) is in providing teachers and lecturers with a platform to acquire teaching material and additionally

Nursing Essay Example | Topics and Well Written Essays - 2250 words

Nursing - Essay Example There is progress, but it is considered to be a very slow trend which needed to be sped up to deliver the potential gains of the strategy (Department of Health, August 2010). An aspect of the End of Life Care Strategy wherein the Department of Health focused on its initial implementation is the care planning (inclusive of assessment) which comes after the identification of people approaching the end of life and will follow the step of coordination of care in the care pathway. It is also where nurses, being part of the multidisciplinary health care team, have active involvement whether working in hospitals or in community settings, more particularly in assessing the patient and the family regarding their needs, wishes and preferences, and is involved in initiating reviews of the care plan to the team if with patient’s permission, thus influenced the selection of the strategy’s aspect to be discussed by this paper. This will explore the implications of the care planning a spect for community heath care providers (nurses in particular), service users (patients) and significant others (family and carers). Community Health Care Providers The Strategy will give emphasis on the nurses’ role in assessment and documentation of patient’s needs, wishes and preferences in addition to her roles regulated by international, national and local policies during the end of life care. As per the code in Nursing & Midwifery Council (2008), nurses are responsible in gaining patient’s trust, treating them as individuals, respecting their dignity, working with others, providing high standard of care, being open and honest, acting with integrity and uphold reputation of profession. This will require nurses to assess and record the needs, wishes, preferences and agreed set of actions of the dying patient (advanced decisions, where to die, etc.) and to participate with the review of the care plan. An example is the Advanced Decisions to Refuse Treatment as a valid and applicable legally-binding document where the nurse is obligated to follow the physicians’ order to withhold life-preserving treatment as stated therein (NHS, 2010). Other options to be considered are the advanced statement and the DNACPR (Do Not Attempt Cardiopulmonary Resuscitation). Service Users (Patients) The care planning of the Strategy aims to enforce assessment and recording of needs, wishes and preferences of patients undergoing their end of life. This will grant patients with greater autonomy in making decisions for their own health, including decisions on where they would like to die. Moreover, it will enforce the community health care providers to assess and record their needs, wishes and preferences even if the patient or family have not yet initiated the discussion of these matters, thereby raising patient’s awareness on his treatment options. The Strategy slightly decreased the number of patients dying at the hospital and die at home inst ead by offering the patient an option to die at home instead (Department of Health, August 2010). Significant Others Families and/or carers of the patient in end of life are also included with the care planning of the Strategy in terms of reviewing the care plan, yet not as specific as the

Internship experience at Arabian Building Chemicals factory Essay

Internship experience at Arabian Building Chemicals factory - Essay Example Internship experience at Arabian Building Chemicals factory My major task was to determine the satisfaction level of the employees within the organization through survey and data collection method. ABC Company is one of the emerging Saudi Arab based paint products manufacturing organization. This internship report will try to motivate the employees of the organization to participate in the sample survey data collection method. Primary and secondary data collection method has been implemented to achieve significant data. The report will propose some recommendations if there is any problem with the workplace environment and employee satisfaction level. The Report Methodology and Individual task This internship report has been compiled based on the experiences during the internship at ABC Company. The data and information is gathered from sample survey method, secondary literature sources and text books. I joined Arabian Building Chemicals factory as a management trainee in the human resource department. My internship duration was 2 months. My role was to review the employee satisfaction level and employee loyalty. Introduction Several leading organizations around the globe are trying to implement new unique strategies in order to retain effective and skilled employees. Now-a-days, the organizations are trying to develop effective HRM strategies. HR policy can enhance effective organizational culture and favorable workplace environment. Skilled employees always demand favorable workplace environment and effective communication with the top management. ... This report will determine the ABC Company’s employee satisfaction level and loyalty of employees. Summary of Internship positions, scope, goals and objectives Employee and workplace management in a manufacturing company is a challenging task. This process needs experienced and skilled management team who can manage effective workplace environment by handling the workplace issues with sheer leadership skills. I have joined the company as a human resource management trainee. The human resource manager, sales department manager, general manager and law department manager helped me to learn several practical aspects of HRM. My role was to review the satisfaction level of the employees. Moreover, I had to find out the conflicts and issues with respect to the workplace if they are available. It can provide huge scope for my future career. I am trying to enter in this type of management sector. The 2 months of internship experience can help to provide solutions to the critical cases in my future organization. This internship experience can help me to achieve both professional and personal growth. My key task was to handle the entire questionnaire and the employees who are participated in this data collection process. HRM Process Every business aims at the realization of a particular mission. The mission can be achieved through the adoption of appropriate strategies and when carried out in the proper fashion. This is done by the employees of the organization who are regarded as the biggest assets. It is the task of the human resource management department to understand who should be entrusted with what job and who has the capability to taste success in the times to come. Hence how the people would carry

Personal journal Essay Example | Topics and Well Written Essays - 250 words - 3

Personal journal - Essay Example Actually, to come think of it, I don’t really know what drives people to meditate but I guess it must be life’s pressures and stress. But looking at some people I know who meditate, I am not sure if it works. The first meditation site I opened was about guided-meditation techniques. I decided to be guided to meditate using what author had recommended. There was some music that I was asked to download. Upon playing it, a nice woman’s voice came up. There was a sitar playing at the background, sounds of water flowing in the river. I must tell you that I a bit relaxed by the music. Then the woman began to guide me. She asked me to lie down on an easy chair and concentrate on my breath and this is where my problem began. No matter how hard I tried I could not concentrate on my breath, something or the other came to my mind. Contrary to what she was saying, there was no sensation in my legs. All I could think of was school assignments, a friend’s party coming u p or my pocket money. It actually stressed me more than destressing, guess meditation is not my cup of tea.

Internship experience at Arabian Building Chemicals factory Essay

Internship experience at Arabian Building Chemicals factory - Essay Example Internship experience at Arabian Building Chemicals factory My major task was to determine the satisfaction level of the employees within the organization through survey and data collection method. ABC Company is one of the emerging Saudi Arab based paint products manufacturing organization. This internship report will try to motivate the employees of the organization to participate in the sample survey data collection method. Primary and secondary data collection method has been implemented to achieve significant data. The report will propose some recommendations if there is any problem with the workplace environment and employee satisfaction level. The Report Methodology and Individual task This internship report has been compiled based on the experiences during the internship at ABC Company. The data and information is gathered from sample survey method, secondary literature sources and text books. I joined Arabian Building Chemicals factory as a management trainee in the human resource department. My internship duration was 2 months. My role was to review the employee satisfaction level and employee loyalty. Introduction Several leading organizations around the globe are trying to implement new unique strategies in order to retain effective and skilled employees. Now-a-days, the organizations are trying to develop effective HRM strategies. HR policy can enhance effective organizational culture and favorable workplace environment. Skilled employees always demand favorable workplace environment and effective communication with the top management. ... This report will determine the ABC Company’s employee satisfaction level and loyalty of employees. Summary of Internship positions, scope, goals and objectives Employee and workplace management in a manufacturing company is a challenging task. This process needs experienced and skilled management team who can manage effective workplace environment by handling the workplace issues with sheer leadership skills. I have joined the company as a human resource management trainee. The human resource manager, sales department manager, general manager and law department manager helped me to learn several practical aspects of HRM. My role was to review the satisfaction level of the employees. Moreover, I had to find out the conflicts and issues with respect to the workplace if they are available. It can provide huge scope for my future career. I am trying to enter in this type of management sector. The 2 months of internship experience can help to provide solutions to the critical cases in my future organization. This internship experience can help me to achieve both professional and personal growth. My key task was to handle the entire questionnaire and the employees who are participated in this data collection process. HRM Process Every business aims at the realization of a particular mission. The mission can be achieved through the adoption of appropriate strategies and when carried out in the proper fashion. This is done by the employees of the organization who are regarded as the biggest assets. It is the task of the human resource management department to understand who should be entrusted with what job and who has the capability to taste success in the times to come. Hence how the people would carry

Supply Chain Management Research Paper Example | Topics and Well Written Essays - 4000 words

Supply Chain Management - Research Paper Example s that allows companies to effectively utilise its people, technologies and other resources required to move its products or services from the suppliers to the consumers. It can further be explained as a network of services and delivery options that facilitate to execute the task of procurement of raw materials and make conversion of the resources available into intermediate as well as complete products along with distributing these finished products to the customers. This system or chain has been observed to be present in both the services as well as manufacturing companies. Although it has been observed that the process and complexities of this system vary from organisation to organisation. Supply chain is a very effective method in planning the overall production and distribution of companies which could further lead towards cutting down of costs of the products and would certainly enable to deliver an attractive final product that would be more preferred by the customers. A compa ny that succeeds in proper implementation of supply chain in its operations would have the competitive edge in the global market in comparison to its competitors. However, there are certain risks and uncertainties that are involved in the incorporation of supply chain network. As there are many steps involved in the process of the supply chain management such as procurement of raw materials, manufacturing of the finished products and delivery of product among others, a failure in any of the mentioned steps would undoubtedly affect the operations and functioning of organisation (Ross, 2010). With this notion, the paper aims at illustrating the risks and uncertainties that are involved in the supply chain network or management process. Furthermore, the paper would also epitomize the phenomena and behaviour of the Forrester Effect, as one of the models for demand uncertainty and would attempt to provide the countermeasures of such effect. Moreover, the paper would further intend to

System development life cycle

System development life cycle The report contains the brief overview of the system development life cycle followed in Shriv Commedia Solutions Pvt Ltd. The project includes the adequate technical details about the different phases including the practical example of Bank management system developed by SCMS for its client Corporate Bank. The methodology followed by SCMS for scheduling the project (using Gantt chart) and the software used in assisting the planning process are described in report. Various tests including the feasibility test conducted by system analyst and technical tests conducted by developer are mentioned with the procedure followed during the testing process. The possible threats which may result to the loss of information have been described in the report and the recommendations (solutions) to avoid such threats are also discussed.   Ã‚  Ã‚  Ã‚  Ã‚  In general, the report includes the procedure of the information system development in SCMS along with the practical description of the SDLC process, Gantt chart, testing process and the threats for the information system (with recommendations). Relevant examples are included wherever felt necessary to facilitate the reader for easy understanding of the report. Shriv Commedia Solutions Pvt ltd (SCMS) is a dedicated software based company which focuses in areas like Software development, Web designing, Multimedia services, Outsourcing, E-commerce, Technical writing, Search engine optimization and testing solutions, providing the services to the clients ranging from public to private sector. Shriv Commedia Solutions Pvt Ltd has been operating under the software development atmosphere since 2001. It has its head office located in India and the branches in UK, Canada and US, all of them focusing on finest, cost-effective and timely solutions. With the main pillars, mission, vision and values, SCMS has been rapidly progressing in todays competitive IT world. It has been successful in providing the innovative and perfect solutions to its clients with the client based approach.   Ã‚  Ã‚  Ã‚  Ã‚  From the list of systems developed by SCMS we have decided to discuss the Bank management system developed for ‘corporate bank’ by SCMS. Corporate bank was established on 1906 and is one of the imperative clients of SCMS since 2004. The system developed by SCMS for Corporate bank is designed in the way to achieve the maximum security for the databases used to store the details about all the banking transactions as well as the account details of the costumers. It is also capable of recording the data of the bank employees. For example, Employee payroll records, details of employee and the attendance of employee. The system developed is able to work with all, internet, intranet as well as extranet. It was also optimized to work with different operating system and was capable to be upgraded along with the introduction of the new technology. Taking the same banking management system developed by SCMS into consideration, each of the development methodology is discussed further in the project. Information System Model in Shriv ComMedia Solutions Pvt. Ltd. Information System Model states an elementary conceptual outline for the major components and activities of information system. In Shriv Commedia Solution Pvt. Ltd, information system depends on the resource of people, software, hardware, data and networks to perform input, processing, output and storage and control activities that converts data resource into information products. Information system Model of Shriv ComMedia Solutions Pvt. Ltd. illustrates that information system consists of 5 major Components: 1. PEOPLE RESOURCES: In SCMS people (end users and IS specialists) are necessary for the function of all information system. 2. SOFTWARE RESOURCES: it includes all sets of information processing instructions 3. HARDWARE RESOURCES: It comprises of all the physical materials and devices used in information processing. Machines: All physical devices: Computers, peripherals and telecommunication networks. Media: all tangible objects in which data is recorded Hardware resource in SCMS 4. DATA RESOURCE:- Data are raw facts and figures typically about physical phenomena or business transaction. Data constitutes a valuable organizational resource. SCMS process data into information and organize it for future use. In SCMS data resource of information system are typically organized into 5. NETWORK RESOURCE: It includes the means of communication within the organization or with the outside world like internet, intranet by which data or information can be transferred between the different departments of the organization. Telecommunication network like internet, intranet and extranet have become essential for the organizations. Network resources includes System Development Lifecycle generally consists of the five phases including Planning, Analysis, design, implementation and support. All the five phases are arranged together and used to build the information system. Followings are some of the SDLC model used by SCMS depending on the softwares requirement: Waterfall Model Prototype Model Iterative Model Spiral Model Agile software Development Model RAD Model   Ã‚  Ã‚  Ã‚  Ã‚  In Shriv Commedia Solutions (SCMS) they first take the user requirements and decide which type of models should be followed for the development of the system. The second step will be to organize the activities by grouping them into larger categories called phases. In this way the phases are formed into the loop with support phase pointing to the planning phase whenever there is the necessity to change in the information system. The change is determined by the users want of information in different format, release of new version, or due to the hardware becoming obsolete. When the changes occur the planning phase begins again and some part of whole of the system is modified and the system development lifecycle starts again. When corporate Bank offered the project of developing ‘Bank management System’ to Shriv Commedia Solutions, Spiral Model was followed there in order to develop Bank Management System. They selected spiral Model since it provides early indication of undefeatable risks and users can be closely tied to all lifecycle steps. SCMS arranges its system development process in following order. 1. Planning Phase:- The client requests are reviewed by the steering committee (decision making body) which consists of 7-8 people in SCMS including vice president, managers and non-managerial employees. During this phase: Project ideas are collected and reviewed Project ideas are prioritized Allocate resources Project Development team is formed 2. Analysis Phase:- Gather Customer requirements: Following techniques are used by SCMS for collecting the requirements from the customers: Interviews Questionnaires Client Documents Scenarios Rapid Prototypes Select and justify a project (feasibility test) Submit and approve the request for proposal Get the project team in place Prepare the requirements documents Conduct project kick-off meeting Develop Statement of Scope WBS Development: Conduct ‘work break down Structure’ meeting Build work break down Structure Update WBS in project plan Outline project plan Assign resources to project plan tasks Create entity relationship diagram (ERD) Create Data Flow Diagram (DFD) Define data dictionary Perform object-oriented analysis 3. Design phase:- Acquire hardware and software needed for the project Design data model Write functional specifications Design prototypes Write detailed design specifications Write documentation plan Write beta test plan Write customer support plan Write training plan Write risk management plan 4. Implementation phase:- Development AND Unit Testing of Module(1-n) Testing Integration Software Quality Assurance (SQA) System test Track defects Regression test Manage Release and Change Configuration management New full releases Maintenance releases Installing and testing of new system Install beta test system Conduct beta tests Track defects and report to customer support Gather requirements for customizations Implement software Execute customer acceptance test procedure Cutover development to production Training Develop training specification for end users, help desk support staff Identify training delivery methodology i.e. computer based, classroom Develop training materials Develop training delivery mechanism 5. Support:- Post implementation system review:- Document lessons learned Distribute to team members Create software maintenance team Identify errors and enhancement Monitor the performance of system Shriv ComMedia Solutions Pvt. Ltd. Followed the same method discussed above for accomplishing the project offered by the Corporate Bank Following steps are used in SCMS to create a Gantt chart:- 1. All activities or task are listed in plan They find out the earliest possible date of all the tasks or activities of project and estimate the length of time it will take and check whether it is parallel or sequential. If the task is sequential they show the stages on which it depends. They use the X axis of the graph paper for the date, week or months required for the completion of the project and Y axis to itemize the tasks in its order 2. Plotting the tasks onto the plan They list the tasks in Y axis on the left hand side of the page and to draw up a rough first draft of the Gantt chart, they plot each task on the plan showing it starting on the earliest possible date. They draw each task as a horizontal bar with the length of the bar being the length of the time the task will take. Above each task bar they mark the estimated time taken to complete the task. 3. Schedule the tasks Now they redraw the Gantt chart on a fresh sheet to schedule actions and tasks. They schedule these in such a way that sequential actions are carried out in the desired sequence e.g. dig holes then lay the foundation and then start construction. They also ensure that these dependent activities do not start until the activities they depend on have been totally completed They try to schedule parallel task so that they do not interfere the sequential action on the critical path. While scheduling they make sure that they are making the best use of time and resource available to them. Once their Gantt chart is drawn one can see how long it will take to complete the project. Assessment process begins as soon as the requests are received in SCMS. They perform the various feasibility evaluations in order to know how suitable the development of a system will be to the company. The feasibility test process conducted by SCMS for the project request of Corporate Bank consisted 3 phases: The feasibility tests performed by system analyst of SCMS were: 1. Operational Feasibility: Operational feasibility was based on the following parameters: The effectiveness of the proposed system in corporate bank. Impact of new system in existing system User preferences (collected from interview) Requirements of the new system 2. Schedule feasibility: Following parameters were responsible for schedule feasibility The deadline of the project (either reasonable or not) Estimated time for project completion 3. Technical feasibility: Following things were considered during technical feasibility: Hardware and software required for project Availability of the people to deliver and support the proposed system 4. Economic feasibility: In SCMS the economic feasibility test was conducted by system analyst with the assistance of financial analyst. Following were the parameters looked upon for economic feasibility: Benefits of the proposed system to the corporate bank Cost-Benefit relation regarding the system use After the feasibility test was conducted the system analyst submitted the feasibility report to the steering committee recommending the further study (detailed analysis) of the corporate bank. Feasibility report in case of SCMS was a written document submitted with the details of the existing system, benefits of new system and recommendation. The implementation phase in SCMS consists of four major phases: Development of the program Testing of the new system Train the users Convert to new system SCMS generally uses two methods for the development of the program. Outsourcing the program Developing the program SCMS sometimes outsource the software required for them but most of the times the development process is favoured. During the preparation of the software for Corporate Bank following software and technologies were used by SCMS. The tests performed by SCMS for verifying the Bank management system designed for Corporate Bank were: 1. Functional Testing: The main objective of the functional test was to ensure that each of the elements of the system meets the user requirements. The requirements were: Requirements placed by user (corporate bank) Business Design Specification Year 2000 development standard Different phases of functional testing were: a. Validation Test It basically checked the Windows GUI standards, Valid, invalid and limit data input, Screen and field look and appearance, and Overall consistency with rest of the units. b. Specific functional test (UNIT TEST) Low level tests which were conducted to test the individual process and data flow. 2. System Test: This test was performed to check whether all the units of the application were working together to produce the output and there is no gaps in the data flow from one unit to other. 3. Integration Test: Integration test was performed by connecting the application with the different other application. The performance of the application with different other software was noted and the application was verified based on the results. 4. Performance Testing: This test was carried out to verify that the system provides the acceptable response time (should not exceed 4 seconds). 5. Regression Testing: The main objective of the regression test was to observe the functionality and stability of the software. It was automated with the help of the automated testing tools. Test environment available in visual studio and NUnit software was used to automate the testing of the application designed for Corporate Bank. Several formal reviews were carried before and during the tests and they were documented. The major formal review points were placed in different stages of testing as shown in the diagram: When all the tests were performed by the developer and all the errors /bugs were fixed, the additional tests were performed to ensure that system was working in integrated manner. In this way the application designed for the corporate bank was verified by the developers team. During the system development in SCMS there are various security that arises which may lead to the information loss. Following are some of the security risks and their solutions to prevent the information loss: 1. Server Downtime: Risk: Server downtime may cause the server to stop working so that the entire computer bridged with the server will be unable to connect with server. This may cause the loss of the information when the information is being sent to server. Solution: Before upgrading or migrating to a different physical server, make sure servers pass all tests prior to full deployment, and test and debug all applications prior to full deployment. 2. Obsolete application and tools: Risk: Due to the defect in the application and tools the loss of the information may occur. Hardware crashes and Software failure may occur causing the information loss. Solution: Make the careful inventory of the all applications and tools currently in use, prior to system implementation. Always use the trusted Hardware brands and software brands to avoid the hardware/software failure. Benchmarking testing can prove fruitful to check the hardware or software. 3. Computer Virus, Worms and Trojans: Risks: These are the malicious-logic program which act without user knowledge can alter the computers operation and result to information loss. Solutions: Following measures can be adopted to prevent the computer viruses, worms and Trojans: Prevent starting the computer with removable media in drives. Never open an e-mail attachment from source other than trusted. Set the macro security level to medium in the word processing or spreadsheet programs. Install the genuine version of the operating system Install the good antivirus software (updatable, reliable and efficient) 4. Denial of Service (DoS) attack: Risk: A DoS attack is designed to overload the server. The perpetrators use the softwares of codes to send thousand of requests to the server so that the valid user cant connect the server. Solution: The best way to prevent the DoS attack is not letting the DoS style attacks near the webserver. The tools like apaches mod_security or mod_dosevasive/mod_evasive can be used to drop the abusive IP address at the firewall before they get anywhere near the webserver. 5. Backdoors: Risk: Backdoors are the programmer created algorithms which bypass security mechanisms and provides the access to the programs so as to access the program for troubleshooting or saving the development time. But hackers and crackers use backdoors to gain access to program and inject the malicious code to the program causing the information loss. Solutions: Scan for the Backdoors with the help of tools available in market. Eg: SpyHunter security tool Update the antispyware software For developer: Try avoiding the backdoors during the design phase or eliminate the backdoors before the delivery of the software to the client. 6. Hardware Failure: Risk: Hardware failure can cause the loss of information stored in hard drives. Solutions: Frequently backup the hard drives Use Redundant Array of Independent Disks (RAID) to prevent hardware crashes Online Storage of the data and information After the research conducted on the System Development lifecycle of Shriv Commedia Solutions Pvt Ltd we came to conclude that the company (SCMS) follows the general five phases of the information system development cycle for the project received. It follows all the five phases thoroughly and tends to meet the user requirements by developing the perfect matching solutions for their business.   Ã‚  Ã‚  Ã‚  Ã‚  We came to know that the system analyst has the major role in the development process as he/she acts as the bridge between both users and developers. Analyst is the person who conducts the feasibility tests and decides the suitability of the project for company. The project development team consisting of different level of employees work on the project, as scheduled on Gantt chart, designed by the project leader. SCMS conducts the different tests during and after the designing of the application to make the application error-free before it is delivered to the client. There are also many security threats for the application which may cause the information loss. By the help of the research we came to know the measures to eliminate the security risks and protect the loss of information.   Ã‚  Ã‚  Ã‚  Ã‚  In general, after the research on SCMS and its system development methodology in case of Corporate Bank (one of its client) we had the detailed knowledge of the different phases of the information system development lifecycle and the possible threats for the information loss.

Romanticism :: Romantic Movement Essays

Romantics often emphasized the beauty, strangeness, and mystery of nature. Romantic writers expressed their intuition of nature that came from within. The key to this inner world was the imagination of the writer; this frequently reflected their expressions of their inner essence and their attitude towards various aspects of nature. It was these attitudes that marked each writer of the Romantic period as a unique being. These attitudes are greatly reflected in the poem â€Å"When I Heard the Learned Astronomer† by Walt Whitman.   Ã‚  Ã‚  Ã‚  Ã‚  Walt Whitman reflects this Romantic attitude in the speaker of his poem. He situates the speaker in a lecture about astronomy that the speaker finds very dull and tedious. Thus the speaker looks past the charts, diagrams and the work that is involved with them and starts to imagine the beauty of the stars alone. Being lifted out of the lecture room, the speaker is freed of his stress and boredom and is able to enjoy the peace and true beauty that the stars embrace.   Ã‚  Ã‚  Ã‚  Ã‚  Varying degrees of Romantic attitude has affected many areas in our lives today. A vast area that Romantic attitude has affected is The Arts. The Arts, composed of many types of genre, are composed and interpreted very different. Some people may look at a painting and imagine extremely different attitudes than the artist who painted it had intended. Another area that the Romantic attitude has drastically affected is fashion. As you glance around you’ll probably observe that very few people dress similar and each person has developed their own style of dress. Fashion often reflects a person’s attitude towards life and may express the mood that the particular person has, this gives each person a unique quality to distinguish them from the rest of society.

Characters, Setting, and Conflicts in A Tale of Two Cities Essay

Characters, Setting, and Conflicts in A Tale of Two Cities      Ã‚  Ã‚   In the novel, A Tale of Two Cities, Charles Dickens utilizes the characters, setting, conflicts, and other literary devices to convey the tone and establish an attitude about human beings and society.    Dickens connects this novel with the French Revolution. Many of his descriptions refer back to the Revolution and help convey the tone of depression. Dickens saw "similarities between the forces that led to the Revolution and the oppression and unrest occurring in England during his time" (Cliff notes). "Although he supported the idea of people rising up against tyranny, the violence that characterized the French Revolution disturbed him" (Cliff notes). Dickens was drawn to a play, The Frozen Deep, written by Wilkie Collins in which he acted. In this play, two men competed for one woman, like in A Tale of Two Cities, when Charles Darnay and Sidney Carton compete against each other for Lucie Manette. Dickens makes clear the characters in this novel through their actions rather than dialogue, which make this novel different from the rest. Dickens' social ideas in this novel are quite simple. He feels the French Revolution was inevitable because the aristocracy oppressed the being "of the poor, driving them to revolt" (Cliff notes). In A Tale of Two Cities Dickens attempts to show his readers the dangers of a possible revolution (Cliff notes). He relies on his descriptive skills to convey the significance of revolution and resurrection in the novel. In addition, he portrays the horror of mob violence throughout the novel, leaving the readers with images of waves of people crashing through the battered gates of the Bastille, for exampl... ... Dr. Manette and he is returned to sanity. Sydney Carton's life changes from despair to honor. Because of the great change in Carton, Darnay's life is spared. The power of love and determination is clearly demonstrated by the resurrection of Dr. Alexander Manette, Sydney Carton, and Charles Darnay.       Sources Cited and Consulted:    Collins, Irene. "Charles Dickens and the French Revolution." Literature and History 1.1 (1990): 40-57.      Dickens, Charles.   A Tale of Two Cities. 1859. New York:   Bantam, 1983.    Gross, John. "A Tale of Two Cities." Dickens and the Twentieth Century. Ed. John Gross and Gabriel Pearson. London: Routledge & Kegan Paul, 1962. 187-97.    Kalil, Marie. Cliffs notes on Charles Dickens' A Tale of Two Cities.   Cliff Notes Inc,   June 2000    http://www.sparknotes.com/lit/twocities/   

Title of Paper

â€Å"Although his name is hardly a household word, the ghost of Jay M. Near still stalks most U.S. courtrooms.   There exists no plaque that bears his name†¦.Near is truy the unknown soldier in the continuing struggle between the powers of government and the power of the press to publish the news.†Ã‚   (Friendly, 172) Fred Friendly, journalist, wrote of the struggle men, such as Jay M. Near, fought in their determination to live the American dream.   Their dream may not be acknowledged by the general public, but Near and his peers were trying to live the rights bestowed upon them as Americans.   Among those rights were the right to free speech, and freedom of the press. The reason Near is not a household name is because his cause may not have been seen by many to be noble.   If fought today, his cause or his dream would be likened to that of The Enquirer or The Star.   In fact, Friendly, in Minnesota Rag:   Corruption, Yellow Journalism, and the Case That Saved Freedom of The Press,   described Near vs. Minnesota, as a cast that placed freedom of the press in the least favorable light. Minnesota Rag, by Fred Friendly, traces the roots of this case all the way back to Duluth, Minnesota, beginning with a man by the name of James Morrison, who edited the Rip-Saw.   Morrison is described as a self-righteous man, willing to do anything to prove his point.   He saw a need in Duluth to expose the lawmakers for what they were.   It was a time of prohibition and Morrison saw failure in politicians and corruption in the police.   The Rip-Saw, as described by Friendly, was relentless.   â€Å"Once it had a victim in its sights, it didn’t stop until its prey was wounded.†Ã‚   (Friendly, 8) The Rip-Saw became a popular success.   The prohibition had been a failure and opened the door for Morrison to attack.   He ran storied of gambling dens increasing, prostitution and politicians, but did so under the guise of moral decency, which led the general public to believe him and the Rip-Saw.   The business sector did not have as much faith in Morrison or the Rip-Saw.   They accused him or trying to force businesses to buy advertising in order to eliminate the risk of gossip. Morrison was a single man trying to affect an entire community into believing and acting on his morals.   He had identified what he thought was just and decent and insisted that the rest of the community live by his law, or be punished.   His punishment was to be published as a headline in his paper in a non-flattering and often libelous manner.   He took it upon himself to judge the morals of others.   Morrison had an impact on local elections with the stories he printed, whether true or untrue. When finally brought to court on charges of libel, Morrison was found guilty.   Morrison immediately appealed the decision and six months later was ordered to make a public apology.   By that time, Morrison had already won, as the Mayor Power he had so maliciously written about had lost his election.   Morrison issued an apology, but certainly in jest as he had already accomplished what he had set out to do. Having accomplished such a feat, two other politicians, Boylan and Lommen, who had been lambasted in the Rip-Saw, determined that this type of press was unacceptable and formed legislation prohibiting publications that were producing â€Å"malicious, scandalous, and defamatory material.†Ã‚   (Friendly, 20)   This legislation is what would become known as the Public Nuisance Bill of 1925, often referred to as the â€Å"gag law.† â€Å"Any person who†¦.shall be engaged in the business of regularly or customarily producing, publishing or circulating, having in possession, selling or giving away, (a)  Ã‚  Ã‚   an obscene, lewd and lascivious newspaper, magazine or other periodical, or (b)  Ã‚   a malicious, scandalous and defamatory newspaper is guilty of nuisance.† This law enabled a single judge to prevent the publication of anything they believed or considered to be obscene, lewd, lascivious, or malicious, scandalous and defamatory.   Press coverage of this bill was almost non-existent and yet it had the largest impact on their business.   America, founded on freedom and liberty, was now going to allow the fate of individuals to rest in the hands of one judge, and his beliefs.   This judgment went against everything that our laws our founded on.   This wouldn’t go down without a fight. Minneapolis, Minnesota was vastly affected by the prohibition as well.   Friendly described it as a crossroads in the Canadian whiskey trade.   From Minneapolis it could be shipped to Chicago and St. Louis.   Some journalists in the Minneapolis/St. Paul area described both the politicians and law enforcement as being on the take.   Minneapolis was known as a town of gambling, illegal booze and prostitution, plagued by gang killings.   Friendly describes many of the journalists of respectable newspapers as looking the other way.   They chose not to get involved.   Enter Morrison’s successor, Jay M. Near. Near is not described as a man of conscience or character, but a man who was looking to profit, in any way he saw fit.   Again, this is likely why his name is not a household term.   Near and his partner Guilford, began a crusade against local authorities, including the chief of police.   Their publication The Saturday Press took aim at the local authorities.   Their implications tied the police to the local gambling syndicates and further accused the police of extorting money from local businesses. Brunskill, the chief of police had ordered an official ban of the paper from all newsstands in Minneapolis, on the basis that it would corrupt the morals of children.   Brunskill threatened arrest of anyone who would be selling the paper, which made Near fight harder.   Near and his cohorts promised legal aid and bail to anyone who would willingly sell the paper.   It was a political and racial fight from beginning to end.   Near, who was anti-Catholic, anti-Semitic, anti-black, anti-labor, would find support in the Jewish community to further his cause.   Never the less, The Saturday Press was eventually closed and padlocked. The United States, a country founded on freedom, had caused the creation of a number of civic unions that would fight for a cause, whether they believed in it or not.   They were fighting for freedom, yours, mine and theirs.   Near had found a way to reach out to the American Civil Liberties Union, and although they did not agree with his publication, they agreed with his right to publish it.   Near was also joined by Robert Rutherford McCormick, publisher of the Chicago Tribune.   McCormick joined the battle because of his belief in the First Amendment. They joined forces in order to fight the Public Nuisance Law and to support Freedom of the Press.   They did not all agree on the purpose of that freedom or how it should be used, but that it should be present for everyone.   They had determined that no one man should have the right to quiet the voice of another, despite their difference in opinion, and they took their case to the Supreme Court. Weymouth Kirkland, appellant’s counsel, in his address to the court, asserted that the Minnesota law violated the United States Constitution by restricting freedom of the press.   Kirkland admitted that the articles were defamatory, but added, â€Å"So long as men do evil, so long will newspapers publish defamation.†Ã‚   (Friendly, 126)   Kirkland concluded that every man has the right to publish malicious, scandalous and defamatory matter, even if untrue and with bad motives. (127) They may be dealt with after the publication of such matter, but no one has the right to prevent such publication.   Kirkland’s point was that the Minnesota gag law was a method of permanent censorship, however criminal proceedings on a specific complaint were always available to the state.   (128)   The Supreme Court ruled in Near’s favor. According to Friendly, Near vs. Minnesota, placed freedom of the press in the least favorable light.   (172)   Near’s cause did not appear to be significant or even just, except by those that choose to fight this battle.   To those who fought the battle it created a â€Å"sturdy† law.   â€Å"If great cases like hard cases make bad law, as the Holmes proverb warns, it may follow that since few knew or cared about Near’s cause, freedom of the press was transformed successfully into a twentieth-century constitutional bulwark.†Ã‚   (Friendly, 173) Had this case never been heard, we may be left with the inability to question our government or local authorities today.   We live in a democratic society, where we have been granted certain unalienable rights, among them the right to freedom of speech and freedom of the press.   Without those options, the press would be unable to publish stories of certain unflattering truths about our elected officials.   We would be unable to make informed decisions. â€Å"Both the history and language of the First Amendment support the view that the press must be left to publish news, whatever the source, without censorship, injunctions, or prior restraint.   Only a free and unrestrained press can effectively expose deception in government.† (Friendly, 176) Near vs. Minnesota and the case of Morrison and the Rip-Saw, either story seems hard pressed to point to a great law that would emerge from the scandals.   But to leave the Public Nuisance Law in place, to limit the freedom of the press, would ultimately result in a restraint upon the freedom of the general public.   If the press cannot print what they learn, then our democracy is dissolved. â€Å"But, history, fate, or whatever fore it is that provides the unlikely champion, or the subtle, improbably turn of events that leaves its indelible stamp upon the course of human events, intervened.   It was one such incident that ultimately empowered five Supreme Court Justices to infuse with life and spirit and amendment which for 150 years had existed only as a bare skeleton.†Ã‚   (Friendly, 179)                                  Title of Paper â€Å"Although his name is hardly a household word, the ghost of Jay M. Near still stalks most U.S. courtrooms.   There exists no plaque that bears his name†¦.Near is truy the unknown soldier in the continuing struggle between the powers of government and the power of the press to publish the news.†Ã‚   (Friendly, 172) Fred Friendly, journalist, wrote of the struggle men, such as Jay M. Near, fought in their determination to live the American dream.   Their dream may not be acknowledged by the general public, but Near and his peers were trying to live the rights bestowed upon them as Americans.   Among those rights were the right to free speech, and freedom of the press. The reason Near is not a household name is because his cause may not have been seen by many to be noble.   If fought today, his cause or his dream would be likened to that of The Enquirer or The Star.   In fact, Friendly, in Minnesota Rag:   Corruption, Yellow Journalism, and the Case That Saved Freedom of The Press,   described Near vs. Minnesota, as a cast that placed freedom of the press in the least favorable light. Minnesota Rag, by Fred Friendly, traces the roots of this case all the way back to Duluth, Minnesota, beginning with a man by the name of James Morrison, who edited the Rip-Saw.   Morrison is described as a self-righteous man, willing to do anything to prove his point.   He saw a need in Duluth to expose the lawmakers for what they were.   It was a time of prohibition and Morrison saw failure in politicians and corruption in the police.   The Rip-Saw, as described by Friendly, was relentless.   â€Å"Once it had a victim in its sights, it didn’t stop until its prey was wounded.†Ã‚   (Friendly, 8) The Rip-Saw became a popular success.   The prohibition had been a failure and opened the door for Morrison to attack.   He ran storied of gambling dens increasing, prostitution and politicians, but did so under the guise of moral decency, which led the general public to believe him and the Rip-Saw.   The business sector did not have as much faith in Morrison or the Rip-Saw.   They accused him or trying to force businesses to buy advertising in order to eliminate the risk of gossip. Morrison was a single man trying to affect an entire community into believing and acting on his morals.   He had identified what he thought was just and decent and insisted that the rest of the community live by his law, or be punished.   His punishment was to be published as a headline in his paper in a non-flattering and often libelous manner.   He took it upon himself to judge the morals of others.   Morrison had an impact on local elections with the stories he printed, whether true or untrue. When finally brought to court on charges of libel, Morrison was found guilty.   Morrison immediately appealed the decision and six months later was ordered to make a public apology.   By that time, Morrison had already won, as the Mayor Power he had so maliciously written about had lost his election.   Morrison issued an apology, but certainly in jest as he had already accomplished what he had set out to do. Having accomplished such a feat, two other politicians, Boylan and Lommen, who had been lambasted in the Rip-Saw, determined that this type of press was unacceptable and formed legislation prohibiting publications that were producing â€Å"malicious, scandalous, and defamatory material.†Ã‚   (Friendly, 20)   This legislation is what would become known as the Public Nuisance Bill of 1925, often referred to as the â€Å"gag law.† â€Å"Any person who†¦.shall be engaged in the business of regularly or customarily producing, publishing or circulating, having in possession, selling or giving away, (a)  Ã‚  Ã‚   an obscene, lewd and lascivious newspaper, magazine or other periodical, or (b)  Ã‚   a malicious, scandalous and defamatory newspaper is guilty of nuisance.† This law enabled a single judge to prevent the publication of anything they believed or considered to be obscene, lewd, lascivious, or malicious, scandalous and defamatory.   Press coverage of this bill was almost non-existent and yet it had the largest impact on their business.   America, founded on freedom and liberty, was now going to allow the fate of individuals to rest in the hands of one judge, and his beliefs.   This judgment went against everything that our laws our founded on.   This wouldn’t go down without a fight. Minneapolis, Minnesota was vastly affected by the prohibition as well.   Friendly described it as a crossroads in the Canadian whiskey trade.   From Minneapolis it could be shipped to Chicago and St. Louis.   Some journalists in the Minneapolis/St. Paul area described both the politicians and law enforcement as being on the take.   Minneapolis was known as a town of gambling, illegal booze and prostitution, plagued by gang killings.   Friendly describes many of the journalists of respectable newspapers as looking the other way.   They chose not to get involved.   Enter Morrison’s successor, Jay M. Near. Near is not described as a man of conscience or character, but a man who was looking to profit, in any way he saw fit.   Again, this is likely why his name is not a household term.   Near and his partner Guilford, began a crusade against local authorities, including the chief of police.   Their publication The Saturday Press took aim at the local authorities.   Their implications tied the police to the local gambling syndicates and further accused the police of extorting money from local businesses. Brunskill, the chief of police had ordered an official ban of the paper from all newsstands in Minneapolis, on the basis that it would corrupt the morals of children.   Brunskill threatened arrest of anyone who would be selling the paper, which made Near fight harder.   Near and his cohorts promised legal aid and bail to anyone who would willingly sell the paper.   It was a political and racial fight from beginning to end.   Near, who was anti-Catholic, anti-Semitic, anti-black, anti-labor, would find support in the Jewish community to further his cause.   Never the less, The Saturday Press was eventually closed and padlocked. The United States, a country founded on freedom, had caused the creation of a number of civic unions that would fight for a cause, whether they believed in it or not.   They were fighting for freedom, yours, mine and theirs.   Near had found a way to reach out to the American Civil Liberties Union, and although they did not agree with his publication, they agreed with his right to publish it.   Near was also joined by Robert Rutherford McCormick, publisher of the Chicago Tribune.   McCormick joined the battle because of his belief in the First Amendment. They joined forces in order to fight the Public Nuisance Law and to support Freedom of the Press.   They did not all agree on the purpose of that freedom or how it should be used, but that it should be present for everyone.   They had determined that no one man should have the right to quiet the voice of another, despite their difference in opinion, and they took their case to the Supreme Court. Weymouth Kirkland, appellant’s counsel, in his address to the court, asserted that the Minnesota law violated the United States Constitution by restricting freedom of the press.   Kirkland admitted that the articles were defamatory, but added, â€Å"So long as men do evil, so long will newspapers publish defamation.†Ã‚   (Friendly, 126)   Kirkland concluded that every man has the right to publish malicious, scandalous and defamatory matter, even if untrue and with bad motives. (127) They may be dealt with after the publication of such matter, but no one has the right to prevent such publication.   Kirkland’s point was that the Minnesota gag law was a method of permanent censorship, however criminal proceedings on a specific complaint were always available to the state.   (128)   The Supreme Court ruled in Near’s favor. According to Friendly, Near vs. Minnesota, placed freedom of the press in the least favorable light.   (172)   Near’s cause did not appear to be significant or even just, except by those that choose to fight this battle.   To those who fought the battle it created a â€Å"sturdy† law.   â€Å"If great cases like hard cases make bad law, as the Holmes proverb warns, it may follow that since few knew or cared about Near’s cause, freedom of the press was transformed successfully into a twentieth-century constitutional bulwark.†Ã‚   (Friendly, 173) Had this case never been heard, we may be left with the inability to question our government or local authorities today.   We live in a democratic society, where we have been granted certain unalienable rights, among them the right to freedom of speech and freedom of the press.   Without those options, the press would be unable to publish stories of certain unflattering truths about our elected officials.   We would be unable to make informed decisions. â€Å"Both the history and language of the First Amendment support the view that the press must be left to publish news, whatever the source, without censorship, injunctions, or prior restraint.   Only a free and unrestrained press can effectively expose deception in government.† (Friendly, 176) Near vs. Minnesota and the case of Morrison and the Rip-Saw, either story seems hard pressed to point to a great law that would emerge from the scandals.   But to leave the Public Nuisance Law in place, to limit the freedom of the press, would ultimately result in a restraint upon the freedom of the general public.   If the press cannot print what they learn, then our democracy is dissolved. â€Å"But, history, fate, or whatever fore it is that provides the unlikely champion, or the subtle, improbably turn of events that leaves its indelible stamp upon the course of human events, intervened.   It was one such incident that ultimately empowered five Supreme Court Justices to infuse with life and spirit and amendment which for 150 years had existed only as a bare skeleton.†Ã‚   (Friendly, 179)