Writing You Can Sell on Etsy

Writing You Can Sell on Etsy For many writers, writing is not just a way to pay the bills, but also a craft and an art form. What better way to pay bills more effectively than marketing that craft and art on Etsy, the e-commerce website dedicated to crafters and artists? As a sales platform, Etsy promotes unique craft and vintage items, and good writers can offer a range of products suitable for this marketplace without needing to be experts at handicrafts or antiquing. Written crafts that can be sold on Etsy include: Customized Letters: Letters from Santa are the most popular, but other customized letters from fictional fairies and holiday characters can also sell reasonably well. Offer personalization in each letter and use colorful stationery and fonts for more appeal. Take care to avoid copyrighted items, however, such as mascots or other trademarked characters. Poetry: A thoughtful poem can be an ideal gift when paired with an inspirational or related photograph, and writers can team up with photographers to offer unique items. Other poetry options include customized cards or verses for use with weddings or memorials. Toasts: Like poetry, personalized toasts are ideal crafts that writers are in a unique position to offer. A few detailed questions can offer enough personal insight for a thoughtful and creative toast perfect for a wedding, job promotion, new ba Templates: Writers often create custom newsletter, brochure or other templates for clients, and selling customized templates on Etsy can be lucrative. Theme templates for different types of craft-oriented businesses and offer writing services along with the template for even more sales, but be sure not to offer templates that are already in use Resumes: Resume writing can be big business, and experienced resume writers can offer their craft at reasonable prices through this online marketplace. Just like templates, the resumes should be personalized and finely customized to suit each clients needs, and different general themes can be offered for different sales. Books: Novelists and book authors can take advantage of Etsy Getting started on Etsy does take a financial commitment, just as writing requires you to purchase office supplies, business cards and other equipment. Registering and buying on Etsy are free, but selling items costs $.20 per listing (listings last four months or until the item sells, whichever is first), plus a 3.5% fee on the sales price. Those costs are easy business deductions, however, and can quickly be covered with profits from individual sales. When you make your first sale, the potential profits dont stop with just the one item youve sold. Enclose a business card or promotional bookmark with each package, and include your website or blog information with every listing. Slowly but surely you will build a unique platform for your writing and will advertise your business to an unusual but no less profitable niche of customers and clients.

Use Spanish Words for Pets to Become Fluent

Use Spanish Words for Pets to Become Fluent If you are looking for someone to talk in  Spanish with, how about talking directly to your pet? Learning Spanish can be easy with ongoing practice - even with your pet dog or cat. There are benefits of talking to an animal over a human. You will not get any nasty corrections, and you will  get a chance to practice talking without any interruptions. Plus, even when you make a mistake, your  pet will still be there unconditionally throughout your Spanish-language learning journey. Learn how to say phrases referring to pets in Spanish. Phrases Referring to Pets in Spanish Note that a pet in Spanish can be referred to as una mascota,  the same word used for a mascot, such as an animal symbolizing a team. The term un  animal domà ©stico  and the adjective domà ©stico can also be used to mean pet as an adjective, as in un perro domà ©stico, a pet dog. Additionally, the phrase  un animal de compaà ±Ãƒ ­a  and the phrase de compaà ±Ãƒ ­a can be appended to an animals name to indicate it is a pet. Remember that most of the time the genders given below for animals remain the same, whether the particular animal is male or female. Canary: el canarioCat: el gatoPopular cat types include:el bobtailel gato de pelo largo (long-hair)el gato persa (Persian)el gato de pelo corto (short-hair)el gato siamà ©s (Siamese)Chinchilla: la chinchillaCockatoo: la cacatà ºaDog: el perroPopular dog breeds include:el dogo argentino  (Argentine dog)el terrierel perro San Bernardo (St. Bernard)el caniche (poodle)el xoloitzcuintle (Mexican hairless)el mastà ­n (mastiff)el perro esquimal (husky)el gran danà ©s (great Dane)el galgo/la galga (greyhound)el dlmata (Dalmatian)el perro salchicha (dachshund)el collieel bulldogel bà ³xer (boxer)el sabueso (bloodhound or beagle)el basset (basset hound)un chucho  is a muttFish: el pez. A tropical fish is un pez tropicalFrog: la ranaGerbil: el jerbo, el gerboGuinea pig: la cobayaHamster: el hmster (usually pronounced as jmster; plural can include either versions  hmsters or hmsteres)Horse: el caballoIguana: la iguanaLizard: el lagarto, la lagartijaMouse: el ratà ³nParakeet: el peric oParrot: el papagayo, el loro ï » ¿Rabbit: el conejoRat: la rataSalamander: la salamandraSnake: la serpienteSpider: la araà ±aTortoise, Turtle: la tortuga Talk to Your Pet in Spanish After discovering what to call your pet in Spanish, you can progress to learning the  animal sounds  your pets might make, just in case they do make some noises or otherwise talk back to you while you are speaking to them in Spanish.

Managing Multinational Operations DB4 Essay Example | Topics and Well Written Essays - 500 words

Managing Multinational Operations DB4 - Essay Example This paper seeks to evaluate some of these services that make Citibank one of the best bankers in the United States and why Acme should regard it as the first option in its search for a financial service provider. Citibank avails a variety of financial services meant to suite offshore investors. The Citi’s ‘Openinvestor’ is a range of integrated services which are much updated to provide solutions to the modern investor. It must be remembered that one of the strengths of Citi basically lies on its global network that makes its impact felt across the globe. With over $13 trillion in assets scattered in over 100 countries, these resources are normally leveraged to avail fund administration, secure global custody and financial solutions customized to meet peculiar demands. Citi allows investors to focus on fund accumulation in order to build more capital for future investments. This is made possible through the top notch administrative services found in all Citi branches across the globe. In all respect, compared to other American bankers, Citi will certainly take the lead in promoting investment across the different cultures and situations found in different countries in the world. Acme is seeking a financial partner that will provide it with a centralized cash management system- an attribute for which Citibank proud itself to be a leader in the market. In the same vein, the fund accounting services will enable Acme to offload the trouble of Portfolio Accounting thereby minimize risks while also improving the performance of its funds. In an increasingly competitive financial environment, a firm requires a bank that offers very stable foreign exchange management services that will enable it sail through the fluctuating economic situations. Citibank has designed a comprehensive portfolio of foreign exchange services that specifically relate to the local environments in

Contract Law Essay Example | Topics and Well Written Essays - 1500 words - 7

Contract Law - Essay Example This essay talks about the case of Raffia Khan, an interior designer has a number of contractual issues for which she needs your advice. Her business has been suffering as a result of the credit crunch so she is trying to make, and save as much money as possible.Raffia submitted her unmarked envelope with her tender of  £3000 by the time and date specified. After the closing date, she heard that Fix It Up Ltd was awarded the job at a price of  £4000. A year ago Raffia lent  £1000 to her friend Angelo. Last month, she asked for this money back, he told her that he could not afford the full amount but instead asked if she would accept  £700 in full satisfaction of the debt. Raffia agreed to this and took the payment. However, she would now like the further  £300 owed.It is necessary to consider whether the Bradford Institute for Learning has any duty to accept her tender. This will involve considering whether the advert in the paper amounts to an invitation to treat or should be regarded as an offer to give the work to the lowest bidder. It will also be necessary to consider whether the Institute has an obligation to accept the lowest quote because of the advert in the paper. It will be necessary to consider the law in relation to the part payment of a debt, to determine whether Raffia would be stopped from reclaiming the full amount as she had accepted the part payment in full satisfaction of the debt. It should be possible to advise Raffia with regard to any potential claim she might have.

Ethan from - Realism Essay Example for Free

Ethan from Realism Essay The rise of Realism in 1855 was the time when farming began to industrialize, communication expanded through railroads, and Nationalism was yet again revived. On top of all these important transformations that have marked this period of time was the significance for literature with a new audience, new settings, and new characters. The novel, Ethan Frome, by Edith Wharton, is a magnificent example of literature from the Realistic period. First, Realism is a definite movement away from the Romantic period. Romantics wrote regarding the unique and the unusual, whereas in Realism, literature was written about the average and ordinary. The town where the novel takes place is Starkfield, an average farming community. There is not much in the town that is of interest or anything extravagant to be known for. In addition, literature from Romanticism focused on hopes, while Realistic literature illustrated skepticism and doubt. The narrator describes the scene where Zeena declares to Ethan that her sickness is getting serious, saying, She continued to gaze at him through the twilight with a mien of wan authority, as of one consciously singled out for a great fate. Ive got complications, she said (108 Wharton). Hope for Zeenas health is nonexistent, and she, being a hypochondriac, confirms the fact that she feels doubtful about life. The Romantics wrote about the unusual and hopeful, which are characteristics that are not strongly represented in Realistic literature. The second aspect of Realism is the idea of Regionalism. One indication of Regionalism in literature is the characters dialect. An excellent depiction of dialect is where Harmon Gow says, Wust kind, . . . Moren enough to kill most men (6). His regional accent is shown by the spelling and punctuation, allowing the reader to have an idea of how Harmon would have said it. Another aspect of Regionalism is the customs and the way of life of the characters. One way of life that the characters are accustomed to is the normality of marriage between cousins. As this practice is not enthusiastically accepted everywhere, it brings the Regionalistic aspect to the novel. Regionalism, which includes the characteristics of dialect and customs, is a critical component of Realism. Third, Realistic literature uses the concept of Naturalism. In Ethan Frome, the bleak winter setting is a primary clue that nature plays a key role in the story. Nature is displayed as a powerful and malevolent force that is indifferent to humankind. In the novel, the narrator once stated, But when winter shut down on Starkfield, and the village lay under a sheet of snow perpetually renewed from the pale skies, I began to see what life thereor rather its negationmust have been . . . (7). This statement depicts the winter seasons in Starkfield as gloomy and undesirable weather. Aside from the setting, the basic animal nature of humans also draws out the Naturalistic traits in Realism. The narrator tells what was going through Ethans mind following the smash-up, . . . and far off, up the hill, he heard the sorrel whinny, and thought: `I ought to be getting him his feed. . . (172). At such an intense moment, Ethans animal nature brings him to think about tending to his hungry horse instead of caring about his and Matties teetering lives. These examples signify the sense of nature and its forces used in the literature of Realists. Edith Whartons novel, Ethan Frome, is a wonderful example of Realistic literature. Its style shows signs of a distinct shift away from Romanticism and illustrates the aspects of Regionalism and Naturalism, two major components of Realism. Authors of the Realistic period depicted life as typical, everyday people lived and knew it to be, using these important points. The ordinary characters that dealt with common problems and situations in the literature brought a new group of readers, establishing a unique new era that has changed the way people perceive life forever.

Essay example --

I. INTRODUCTION T HE WAY in which the quality of manufactured view stones are analyzed in this paper is to conduct a designed experiment considering the different factors that is thought would influence their appearance, mechanical and technical performances. Natural stones, especially granite, have been used for flooring, view and also as countertop material in houses for their beauty and elegance. However, even though they are very durable, scratch and heat resistant, it has other inherent less desirable characteristics. They contain tiny pits and natural fissures that may appear to be cracks, although these are inherent features. Besides, they are subject to tone variation and it is not easy to achieve smooth transition in the range of shades when it is used in large areas. The high price is the other disadvantage of the natural stones. An alternative is engineered stones which are also durable to some extent but without the less-desirable characteristics of natural stone. Different techniques have been applied to produce the artificial stones with proper characteristics such as reconstituted or re-composed stones. Among these different techniques the polymer based stones are gaining more attention and popularity due to their lower pri ce, diversity and fair mechanical and apparent performances. Also, the materials can be fabricated in large sizes, resulting in less joints and better aesthetics. Fabrication of simulated stone to withstand loads from wind, gravity, movement of building structure, and thermally induced movement, as well as to resist deterioration under conditions of normal use including exposure to weather, without failure. On the other hand since the main use of them is in buildings’ view applications, beauty an... ...the best results are achieved due to optimization of all response variables and the faulty products are avoided. Following the DOE analysis, another study is conducted to find the best parameter setting of manufacturing process. This problem is a Multi-Criteria Decision Making (MCDM) problem due to different response variables. Some of the key features of engineered view stones are qualitative features. Therefore, fuzzy TOPSIS tool is used. Using the proposed method to build a model of the process to efficiently adjust the controllable parameters the proper responses are experimentally achieved. The rest of this paper is organized as follows. Manufacturing and parameters’ selection are discussed in Section II. Section III describes the DOE method which is applied. Fuzzy TOPSIS method is briefly introduced in section IV. The concluding remarks are drawn in Section V.

From Maus Post Modern Techniques

1) Choose one of the texts above and write a 300-500-word response identifying its use of postmodern elements. From Maus contains elements, which identify a postmodern text. The elements used are the interrogation of the past, pastiche, the use of a non-linear journey, mixing of genres, the use of language and the high and low culture. The fragmented form and the use of anthropomorphism allow the audience to be exposed to a postmodern text. The use of anthropomorphism shows the direct way in which the author hopes to achieve his message. From Maus the text, which uses the low and high culture to identify the element of postmodernism found in the text. This can be seen by the layout of the text, which is a comic book strip however the author is talking about a serious issue. In addition the author allows the audience to go through several historical events, which are narrated by a father talking to his son about the holocaust. The text not only talks about the holocaust it also talks about the post and pre-holocaust. It encounters the problems in which the characters deal with loosing family members for example the father. Furthermore the text is an interrogation of the past, which can be associated with postmodern texts. The use of animals also highlights the contrast in the serious story line. The use of language assists in displaying the postmodern elements found in the text. As the text’s main theme is a historical event you would associate the text with formal and informative language. However, From Maus uses common colloquial language this is evident when the father is talking to his son about the holocaust â€Å"Some Jews thought in this way: If they gave to the Germans a few Jews, they could save the rest† The use of language used by the narrator creates the contrast between high and low society. In addition the use of pastiche and the non-linear form adds to the texts fragmented form. The non-linear form assists in displaying the story line in which is viewed from present day which goes backwards due to the narrators memory. In conclusion from the following elements: pastiche, the high and low culture, mixing of genres and language assist in creating a postmodern text.

Revenue recognition Essay

The study has been conducted to have a view on Revenue Recognition and how is important for entities in financial reporting and the link between revenue recognition and creative accounting. The primary issue in accounting for revenue is to determining when to recognize revenue. Revenue is recognized when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably. There are identifiable criteria to be met and for revenue to be recognized. By definition, Revenue is the gross inflow of economic benefits during the period arising in the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. The entities revenue may be arising from the transactions and events, such as the sale of goods; the rendering of services; and the use by others of entity assets yielding interest, royalties and dividends. The recognition criteria usually applied separately to each transaction. However, in certain circumstances, it is necessary to apply the recognition criteria to the separately identifiable components of a single transaction in order to reflect the substance of the transaction transactions are dealt with shall be measured at the fair value of the consideration received or receivable. Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.1 Creative on the other hand refers to the use of accounting knowledge to influence the reported figures while the jurisdiction of accounting rules and laws, so that instead of showing the actual performance or position of the company, they reflect what the management want to tell the shareholders. It is the transformation of financial accounting figures from what they actually are to what preparer desires by taking advantages of the existing rules and /or ignoring some of them2. There are number of ways management can use to practice Creative accounting such the choice of accounting policy and also the use of artificial transactions to Revenue Recognition. The focus of this study lies more on the Revenue recognition a tool of creative accounting. The Management objective is to maximize shareholders wealth. Sometimes Organizations performance do not always be good to meet this objective, Management may use creative accounting tactics to create a good image of company (find ways to improve results) to meet the objective of shareholders. Also Management use creative accounting to maximize for their own wealth maximization, among other thing is end bonus and salaries increments Literature Review Revenue recognition Financial reporting statements are tools to communicate entity performance to internal and external users of its financial results information. Revenue recognition is important aspect of organizational. The performance organization is measured based on the results from its operations activities and the bottom line (the profit) plays a significant role. Revenue is determinant of performance of Organization since the profit which is indicator of organizational performance is the results of the Organization’s total revenue less total costs.Internation Accounting Standard (IAS) 18 Revenue recognition, specify criteria to meet for revenue to be recognized in Financial Statements. By definition, Revenue is the gross inflow of economic benefits (cash, receivables, other assets) arising from the ordinary operating activities of an entity (such as sales of goods, sales of services, interest, royalties, and dividends) Recognition of revenue, recognition, as defined in the International Accounting Standard Board (IASB) Framework, means incorporating an item that meets the definition of revenue (above) in the income statement when it meets the following criteria, that: Its probable that any future economic benefit associated with the item of revenue will flow to the entity, and the amount of revenue can be measured with reliability. As mentioned, each activity has its recognition criteria on top of the one mention. These are as follows; Sale of goods  Revenue arising from the sale of goods should be recognized when all of the  following criteria have been satisfied: i. The seller has transferred to the buyer the significant risks and rewards of ownership ii. The seller retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold iii. The amount of revenue can be measured reliably  iv. It is probable that the economic benefits associated with the transaction will flow to the seller, and v. The costs incurred or to be incurred in respect of the transaction can be measured reliably Rendering of services For revenue arising from the rendering of services, provided that all of the following criteria are met, revenue should be recognized by reference to the stage of completion of the transaction at the balance sheet date (the percentage-of-completion method) i. The amount of revenue can be measured reliably; ii. It is probable that the economic benefits will flow to the seller; iii. The stage of completion at the balance sheet date can be measured reliably; and iv. The costs incurred, or to be incurred, in respect of the transaction can be measured reliably. When the above criteria are not met, revenue arising from the rendering of services should be recognized only to the extent of the expenses recognized that are recoverable (a â€Å"cost-recovery approach) Interest, royalties, and dividends For interest, royalties and dividends, provided that it is probable that the economic benefits will flow to the enterprise and the amount of revenue can be measured reliably, revenue should be recognized as follows: i. Interest: using the effective interest method ii. Royalties: on an accruals basis in accordance with the substance of the relevant agreement iii. Dividends: when the shareholder’s right to receive payment is established Creative Accounting Creative accounting refers to the use of accounting knowledge to influence the reported figures, while remaining within the jurisdiction of accounting rules and laws, so that instead of showing the actual performance or position of the company, they reflect what the management wants to tell the stakeholders. Purposeful intervention in the external financial reporting process with the intent of obtaining some exclusive gain. There are some many ways management can use to practice creative accounting such as choices of accounting policies, use of artificial transactions and revenue recognition. In this study, our main focus will be on later, the revenue recognition. Revenue Recognition is the most manipulated item. Deloitte on its review on what fraud scheme are most common, revenue recognition represent 41% of all fraud schemes in United States between 2000-2006.For Many Companies the revenue figure is a single aggregated big number. Creative accountant has always known that, one of the ways to inflate profit is to inflate revenue. In achieving this goal first they manipulate fair value measurement criteria. The criteria are subjective and depend upon the parties to the transactions integrity. The fair value determination is based on knowledge and willingness of the parties to the transactions. Secondly they recognize revenue before it is earned i.e. pre mature recognition of revenue. In complex transactions which involves the lengthy stages of sale especially with accrual system. The recognition of revenue in terms of its timing can be very unclear, therefore the opportunity for manipulation occurs and this can facilitate premature recognition of revenue. Before looking how revenue recognition link with creative accounting, first we have to look the motive behind Creative accounting. Dr. Syed Zulfiqar Ali Shah and Dr. Safdar Butt in their article Creative Accounting: A Tool to Help Companies in a Crisis or a Practice to Land Them into Crises which also appeared on NBAA journal No.28 of April-June 2010states and explains the following as motives for creative accounting. To meet internal targets The managers want to cook the books for meeting internal targets set by higher management with respect to sales, profitability and share prices. Meet external expectations. Company has to face many expectations from its stakeholders. The Employees and customers want long term survival of the company for their interests. Suppliers want assurance about the payment and long term relationships with the company. Company also wants to meat analyst’s forecasts and dividend payout pattern. Provide income smoothing. Companies want to show steady income stream to impress the investors and to keep the share prices stable. Advocates of this approach favor it on account of measure against the ‘short-termism’ of evaluating an investment on the basis of the immediate yields. It also avoids raising expectations too high to be met by the management. Taxation The creative accounting may also be a result of desire for some tax benefit especially when taxable income is measured through accounting numbers. Change in management There is another important tendency of new managers to show losses due to poor management of old management by some provisions Revenue Recognition as method for Creative accounting practices There are number of ways management use to conduct creative management, among them is revenue recognition. Firms virtually have a free hand in timing the booking of their revenues at any stage starting from the moment sales contracts are signed till the promised product or service has been fully delivered to and accepted by the clients. For this we can refer to a classic example of Microsoft which was heavily fined by US SEC for its manipulative revenue recognition policy. Microsoft recognized only a small percentage (20-30%) as revenue at the time of the sale and remaining amount was kept as provision for future after sales services. Why Microsoft adopted that strategy. The answer is to (1) hide substantial profits, (2) signaling effects, (3) avoiding complacency and last but not the least (4) to report smoothed  earnings to its shareholders & stakeholders.3 Moreover, NBAA Account Journal vol.25 No 4 October –December 2010, outline ways in which Revenue Recognition can be used as a method of creative accounting. This include but not limited to Common revenue Manipulations and channel stuffing, Multiple element arrangements, side letters or agreement and non substantive round trip arrangement, Bill and hold arrangements, backdated contracts and Fictitious transactions Common revenue Manipulations Revenue recognition irregularities often involves both omission and commission acts which are inherently either or both inclusive and exclusive of creative accounting manipulation.In books and records include commissions such as false entries,misstated contracts,back dating,misapplication of accounting standards.Commissions result into overstated revenue,mis-timing of recognition,overstated receivables. Channel Stuffing Channel Stuffing is a practice of bringing revenue forward from future fiscal periods.This is done by inducing customers to submit purchase orders in advance.Channel Stuffing is an example of real earning management which involves manipulation of real or normal operations to influence reported performance. A good example of channel stuffing is Coca cola channel stuffing practice of 1997 to 1999 where coca cola offered downstream bottlers extended credit to induce them to purchase more than demanded. Multiple element arrangements, IAS 18 provides guidance on revenue gain from the normal sale of goods and provision of services. The complex issues that arise from the principle-agent relationship and multiple element arrangement .The revenue collected for third parties is not to be recognized by an entity.For example, in a telecommunication industry, operator firm form alliances and enter into Side letters or agreement This involves act of seller to credit the buyer for unsold goods or to provide future stock rotation rights or to extend payment terms such that a transaction becomes a consignment Bill and hold arrangements, This include the sale of product and performing the warehousing service for the product.It is a contract of supplying goods where the seller transfer the title but does not transfer physically deliver the goods until a later date. The bill and hold arrangement are popular in the oil and gas industry as well as international sales.They are only acceptable when it is probably that the delivery will be made,the items on hand is identified and ready for delivery to the buyer at the time when sale is recognized, the buyer specifically recognizes the differed delivered instructions and the usual payment terms apply. The sale on bill and hold arrangement must satisfy conditions that the seller only retains the goods for safe keeping and shipping and the goods must not used by the seller to fulfill other orders. When these condition are met then sales can be recognized on a bill and hold arrangements. In practice these rules can be violated by seller and this go to be an act of creative accounting. The specific case in point would be on timing of the recognition between years as the transfer of risks and rewards can be distinguish and difficult to uncover. Therefore due to this the Revenue recognition can be shifted forward or backward to suit the needs of the creative accounting. Backdated Contracts Backdating of revenues contracts facilitates early recognition of revenue than normally expected recognition date. Company must comply with any laws, rules and regulations relating to dating documents used in business. Any departure from this may attract litigation because such backdating may amount to fraud, forgery and criminal offenses. Recognition of revenue earlier than its expected date act as a method of creative accounting because the financial statements for early recognition period will not present a true and fair value of the company’s performance, rather performance results from manipulated figure through creative accounting. Genuine Transaction Genuine transactions can also be timed so as to give the desired impression  in the accounts. As an example, suppose a business has an investment at historic cost which can easily be sold for a higher sales price, being the current value. The managers of the business are free to choose in which year they sell the investment and so increase the profit in the accounts Fictitious Transactions Financial Statements are inflated by recording sales of goods or services that never occurred or by inflating actual sales. This is one of the leading malicious manipulations than the other type of earning management because it engrosses documents falsification, forgeryand manipulation. On the other hand fictitious revenue can be accomplished with side agreements, contra agreements (sales that offset a purchase transaction) and conditional sales. Practical Example Xerox Corporation Source: The Wall Street Journal, February 6, 2001 Xerox Corporation had the habit of recognizing leasing payments as sales. In April 2002, after an investigation by the SEC, the American company was forced to reclassify its financial statements for the years 1997 to 2000 and reduce recognized revenues by US$3,000 million and profits by US$1,500 million, with equity being reduced in the same amount. As a result, the SEC fined Xerox US$10 million. By that time, the price of the company’s shares had plummeted from US$62 to US$4.5. How did this company manipulate its revenue figures? Xerox sold customers photocopiers under long-term agreements, in which the customers paid a sum of money to Xerox, part of which was to purchase the machine and the other part to cover repairs and maintenance on a long-term basis. This was not problematic in itself from a bookkeeping perspective, provided that the amount corresponding to the sale price of the machine was recognized as revenue in the first year, plus revenues corresponding to maintenance services in the current year, transferring the rest of the received amount to deferred Revenues, which, in turn, were recorded as sales in the year in which the repair services were rendered. So, if a photocopier, for example, is valued at US$100, and five-year maintenance costs US$50, the customer would pay Xerox US$150 when purchasing the machine. The correct accounting method for recording this operation, if the transaction were performed on 1 January, would be to recognize US$110 of sales in year 1 and US$10 of sales in each of the following four years. Accounting malpractice on the part of Xerox consisted in recognizing US$125 of revenues from the sale of the machine, thus undervaluing the amount of future repair services, recording US$130 as revenues in year 1 and deferring only US$20 over the remaining four years of the contract. In this way, it increased year 1profits substantially and reduced future profits. The total amount of the transaction in sales remained the same (US$150); the problem is simply the timing of the recognition of these sales ENRON Enron and other energy merchants earned profits by providing services such as wholesale trading and risk management in addition to developing electric power plants, natural gas pipelines, storage, and processing facilities. When taking on the risk of buying and selling products, merchants are allowed to report the selling price as revenues and the products costs as cost of goods sold. In contrast an â€Å"agent† provides a service to the customer, but does not take on the same risks as merchants for buying and selling. Service providers, when classified as agents, are able to report trading and brokerage fees as revenue. Enron’s method of reporting inflated trading revenue was later adopted by other companies in the energy trading industry in attempt to stay competitive with the company’s large increase in revenue. Enron’s use of distorted, â€Å"hyper-inflated† revenues was more important to it in creating the impression of innovation, high growth, and spectacular business performance than the masking of debt. Between 1996 to 2000, Enron’s revenues increased by more than 750%, rising from $13.3 billion in 1996 to $100.8 billion in 2000. This extensive expansion of 65% per year was unprecedented in any industry, including the energy industry which typically considered growth of 2-3% per year to be respectable for just the first nine months of 2001; Enron reported $138.7 billion in revenues, which placed the company at the sixth position on the Fortune global 500. Group Discussion Regarding Revenue Recognition The Management objective is to maximize shareholders wealth and this is achieved when the companies they are managing are performing well, recording high revenue figure and a good bottom line figure, the profit. Though this study we have learn that, Revenue recognition and Creative accounting is a tool which is much like a weapon. If used correctly it can be of great benefit to the user but if it is mishandled it can cause much harm. Many people are taking creative accounting as negative act; the image to their mind is that creative accounting is dishonest act and manipulation of figures. Though the study we have learned out that Creative accounting has both advantages and disadvantages. It can help the company to get out of a crisis than land them to a crisis. Therefore our discussion will focus much the advantages of creative accounting as the results of Revenue Recognition to the Organization. Not all aspects of revenue are covered under IAS 18 (Revenue Recognition), which give the room to management to use their judgments which will ends up with results favors position. For example IAS 18 provides guidelines on revenue gain from the normal sale of goods and provision of services. The revenue that arises from the principle-agent relationship and multiple element arrangement is not falls on the two. Deciding whether one operator is acting as an agent in delivering of services is subjective and unclear. Thus the decision will be based on matter of judgment and circumstances of situation. When Management use their judgment to recognize revenue for situation like this we can not say they have manipulated the figure, therefore creative accounting become advantageous to them. Creative accounting also can be used in genuine transactions. For example, the disposal of Investment, the authorization of sale lies on owners but the decision on when to sale is on hands of Management. For example, if the Company have investment of TZS 2m at historical cost which can be easily sold for TZS 3m in current Value, when authorized to sale, the Management of Company are free to choose in which year to sell the investment and to increase profit in the company results. Due to the tendency of Investors preference on smooth income to up and down  income, Management would like to dispose this Investment in the period when they see the entity’s performance is poor. The revenue from sale will help to boost their performance and end up reporting smooth income and help to meet expectations. This is creative accounting, but applied on genuine transaction and according to the requirement of the transaction. Revenue recognition acts as a method of creative accounting but on genuine transaction. The two examples we have discussed explain in brief how weapon, creative accounting could be beneficial to Company. When using creative accounting on in good manner, if the Company is in crisis, can help the company to acquire loans from Bank, to attract Investors and also to motivate employees because not only lenders and Invertors interested with Company Performance, Employees also interested to assure their job security and this is important because will enable the Company to retain their key personnel and also attract more qualified workers Conclusion Creative Accounting is both desirable and undesirable. It depends on the point of one’s argument. The practice of creative management has some advantages and disadvantages. Creative accounting is a tool which helps a company to get out of crisis than to land in it. It is much like a weapon. If used correctly it can be a great benefit to the user. Some advantages of creative accounting as a result of revenue recognition has helped to stabilize share prices, helps/helped companies to straighten their borrowing limits and rescue companies from hostiles takeover. On other hand it has brought more harm to companies especially through untimely corporate failures that have brought immense losses to various stakeholders. Also the improper use of such creative accounting practices had fooled both auditors and regulators in the past and it continues to do the same. The complex and diverse nature of the business transactions and the latitude available in the accounting standards and policies make it difficult to handle the issue of creative accounting. It is not that creative accounting solutions are always wrong. It is the intent and the magnitude of the disclosure which  determines its true nature and justification. Revenue recognition can as a tool can enhance both advantage and disadvantages of creative accounting. When Revenue recognition applied on genuine transaction and company end up with good results it enhance the advantages of using creative accounting practices but the worse of it is when it is used to recognize revenue on artificial transactions and fictitious transactions, this end up landing the company into crisis like ENRON, this is disadvantages of practicing creative accounting. REFERENCE 1. The Accountant. The Journal of the National Board of Accountants and Auditors Tanzania.No.4 October-December,2010 2. The Journal of the National Board of Accountants and Auditors Tanzania.Vol.25 No.28 April-June 2012 3. The Wall Street Journal, February 6, 2001 4. Oriol,Amat:Journal of Economic Literature classification: M41.Creative Accounting: Nature, Incidence and Ethical Issues

Strike up the band essays

Strike up the band essays A live show is the best thing to see for the fan and to experience for the band. But there is a lot of work that goes into the live show that should not go unnoticed by the band. The band needs to arrive on time. The process of mic-ing the equipment correctly and the artists should never underestimate the value of a good sound check on stage. After that the actual sound check in the venue will occur. If all goes well, it will be an experience to remember for both the supporters and the artists. For the show to begin on time, the band should arrive on time. It is a matter of careful planning. Set an exact time window for the band to arrive. Make sure the band has a correct and clear route description. Inform the band of possible traffic delays and the time they will be traveling. They should be pretty relaxed when they know that when they arrive everything will be ready. When the equipment is set up, the venues sound technician will begin placing the microphones. The kind of microphone depends on the sound the artists prefers, that is why the technician always cross-references with the artists themselves to get the desired monitor and venue sound. In lesser funded and utilized venues the technician will probably use the standard microphones. The inexperienced artists usually underestimate the importance of their amplifier settings. Because every stage has their own accoustics, settings should be changed accordingly. Make sure the amplifier produces the prefered sound. The volume should be adequate to be amplified further by the installation of the house. If the settings of all the amplifiers is good, the sound on the stage and venue will be good as well. As previously stated, the sound on stage and in the venue depends largely on the sound of the equipment on stage. Make sure that the sound of the equipment on stage is well balanced. All amplified instruments, so no drumkit or horns and such, should ...

Universal and Diagnostic Screening in Setting SLO Goals

Universal and Diagnostic Screening in Setting SLO Goals Teacher evaluation programs require that teachers set student learning objectives (SLOs) using data that can help target instruction for the academic school year. Teachers should use multiple sources of data in developing their SLOs in order to demonstrate student growth over an academic school year. One source of data for teachers can be found in the data that is collected from screening in Response to Intervention (RTI) programs. RTI is a multi-tier approach that allows educators to   identify and then support students with specific learning and behavior needs. The RTI process begins with the use of a universal screen   of all students.   A  universal screen  is an assessment which has already been determined to be a reliable assessment of a specific skill. Universal screens are designated as those assessments that are: Accessible to all studentsGiven to all studentsSkill and concept specific  Easy to administer and scoreQuick turn-around time (1-3 days) of aggregated and disaggregated data to classroom teachersRepeatableReliable (Note: A â€Å"teacher-made† assessment cannot be referred to as reliable if it has not been analyzed by a psychometrician) Source: State of CT, Department of Education, SERC Examples of universal screens used in education at the secondary level are:  Acuity,  AIMSweb, Classworks, FAST, IOWAs, and STAR; some states, such as NY, use the DRP as well. Once the data has been reviewed from universal screening, educators may want to use a  diagnostic screen  to measure students understanding of a subject area or skills base  after a universal screen has revealed specific areas of strength or weakness for a student.   The characteristics of diagnostic assessments are that they are: Given to selected students  Reliable   Valid  (Note: A â€Å"teacher-made† assessment cannot be referred to as reliable or valid if it has not been analyzed by a psychometrician) Source: State of CT, Department of Education, SERC Examples of diagnostic assessments include  Behavior Assessment Scale for Children (BASC-2); Childrens Depression Inventory, Connors Rating Scales. NOTE: Some results may not be shared for the purposes of developing SLOs for the classroom teachers, but may be used for education specialists such as school social worker or psychologist. The data from universal screens and diagnostic screens are critical components of the RTI programs in schools, and this data, when available, can help in refining developing teacher SLOs. Of course, teachers may create their own benchmark assessments to act as a baseline. These benchmark assessments are used frequently, but because they are often teacher created they should be cross-referenced with universal and diagnostic screens if available. Teacher created materials are imperfect or may even be invalid if students underperform or if skills are incorrectly accessed. At the secondary level, teachers may look at quantitative  data  (expressed in numbers, measurable)  from prior years: Standardized test results (State, SAT, ACT, NAEP);Report card grades (letter value or percentage);Attendance records. There may be qualitative  data  (expressed in description, observable)  also in the form of recorded observations by teacher(s) and  support staff or in prior report card comments.This form of comparison through multiple measures that are qualitative and quantitative is called triangulation: Triangulation  is the process of using multiple data sources to address a particular question or problem and using evidence from each source to illuminate or temper evidence from the other sources. In triangulating data to develop a SLO, a teacher make an informed decision on the student learning objectives that to help improve either an individual student or group of students performance.     All of these forms of assessment including those from the prior year, which may include universal or diagnostic screens, can provide teachers with the data to begin to develop well-informed SLO goals at the beginning of the school year in order to target instruction for multi-tiered student improvement for the entire academic year.

Zeebrugge Ferry Disaster (1987) Essay Example | Topics and Well Written Essays - 2000 words

Zeebrugge Ferry Disaster (1987) - Essay Example One of the first disasters was a fire at a soccer stadium in Bradford in May 1985. Many switched on their televisions on a Saturday afternoon for the weekly match results only to be confronted with scenes of a blazing wooden stadium and individuals, one at least on fire, running from the scene. Other disasters included an aeroplane fire at Manchester Airport during the middle of the holiday season, the sinking of a British ferry off Zeebrugge with substantial loss of life, a fire at Kings Cross, the blowing up of Pan Am 103 over Lockerbie four days before Christmas, live coverage of fatal crushing at Hillsborough soccer stadium at the FA Cup semi-final and the sinking of the Marchioness pleasure boat on the River Thames during the August bank holiday weekend, 1989. [Anne Eyre, PhD] Herald of Free Enterprise is a funny name given that it was the pursuit of profit at the cost of safety that caused the accident. [www.everything2.com] The Herald of Free Enterprise, like her sister ships Pride of Free Enterprise and Spirit of Free Enterprise, was a modern ro-ro passenger/vehicle ferry designed for use on the high-volume short Dover-Calais ferry route. [www.unisa.edu.au] The British ferry was built by Schichau Unterweser in Bremerhaven, Germany, in 1980 and owned by Townsend Thoresen, and had two sister ships: Pride of Free Enterprise and Spirit of Free Enterprise. ... The standard passage was concluded late in the afternoon. The departure was delayed because of the large number of passengers, thanks to a special offer. The ship had a crew of 80 and carried 459 passengers, 81 cars, 3 buses, and 47 trucks. As the Zeebrugge harbour was small, it tool lot of time for the ship to maneuver out to the sea. The calm weather and clear view of the sea would have made a safe and pleasant journey for the passengers on any day, but it happened otherwise for the passengers of this ship. The bow door, which was the entrance to the car deck, had been left wide open which was the act of negligence of duty by the crew. In the sea not far away from the coast, the ship speeded up to 18 knots, which caused tons of water to invade into the ship's interior. The immense water mass caused imbalance, which made the ferry capsize on a sand bank just off the coast near Zeebrugge. This created kiosk among the passengers and crewmembers in the ship and panic struck when lights went off. Following this everyone on the ship in an attempt to get out of the ship fought each other. The British ferry Herald of Free Enterprise capsized on March 6, 1987 at ten past eight in the evening, resulting in deaths of 193 people, 150 passengers and 43 crewmembers, the highest death toll in the British history of death caused by vessel sinking since the time Titanic sank. [www.relativesremembered.com] Although the ship did not send an SOS signal, the rescue troops were there fast. Within three hours 360 people had been saved from the sinking ship. Belgian rescue workers arrived quickly and started saving the passengers with ships and helicopters and 408 people were saved and 50 dead bodies were