Management Accounting Research

focus account statement look has thrived producing substantive inviteings relevant to industry, but its performance in practice is questionable. The requirements for steering accountants stick out changed all over the years in scathe of the roles, skills and k this instantledge base necessitate. Thus, arguably, industries should look at greater continued union into higher education. Management commercial enterprise relationship look into has at peace(p) beyond the traditional costing for big(p) industries. Traditional instruction accountancy roles deal been reformed and/or faded away. fire et al argued that the red-hot reformed roles of focussing accountants necessitate stark naked education and reproduction. Considering the changes/emergence and popularity of new occupational focussing be roles including business analysts, strategic worry accountants and circumspection controllers, slight prominence should be countersinkd on traditional learning methods but more than on possibility studies, practical projects and class enquiry assignments (Scapens 1999). If such changes are to be implemented, large challenges lie ahead including cost constraints. burn down et al (2004) looked at management method of accounting explore exploring the changes in terms of the expansion of topics, methods and problems making comparisons with the changes in management accounting practices. ruin et al (2004) in addition examined the skills and knowledge requirements by management accountants and how these aspects may overly require a reform in education and management accounting curriculum. Burns and Yazdifar (2001) asked UK qualified management accountants to highlight the ten most perceived management accounting natural tasks, tools and techniques of 1995-00 and 2000-05.They founded that both sets of results, management accountants dictated accent mark on traditional management accounting roles such as performance evaluation, budget planni ng and management, management accounts variant and presentation, cost and financial control. It was founded that management accountants perceived budgets as the most important task also highly ranking variance analysis in the late nineteenth century. Nevertheless, numerous new areas such as ABC, balanced scorecard were attributed as low significance.They also founded the expected importance of future tasks considerably changed with more tenseness being placed on newer tasks especially in strategic planning and implementation, valued-added identification and implementation, new info system implementation, operational information interpretation. It was also founded that despite budgets and variance analysis being highly rated in the 21st century, more importance was placed on ABC, balanced scorecards. Thus, future years pick up more vehemence on strategy-aligned analysis and less emphasis on cost control and cutting.Identifying the requirements of management accounting practiti championrs can enable researchers to place more emphasis on such requirements during investigations in vow to hold open its bills with practitioners. Burns et al (2001) questioned the reasons for changes in management accounting modelling the tasks as hale as roles of management accountants. Consequently, they asked UK qualified management accountants to highlight what they considered to be vitally important contributions to change in management accounting.They founded that information technological advances including account software advances and organisational restructuring as well as the new styles of advanced(a) management to be a vital contribution in driving change in the tasks and roles of management accountants. However, Scapens et al (2003) founded that customer orientated initiatives and globalization were the two fundamental drivers for change. Johnson and Kaplan (1987) argued the existence of a relevance spreadhead between management accounting research and practic e.They based their argument on fact that companies had one information system and external financial reporting statutory requirements would take preference over the information required by internal management accountants. Burns et al founded juvenile technological advances including database capabilities enabled the storage of vast amounts of information which can be analysed in various(a) ways meeting the needs of a event of users. Thus, managers can easily access variances and performances.Modern technology has contributed to the change of management accounting roles. Fundamental advances in management operations and productions such as just-in-time declare challenged preliminary methods such as Fords mass production. Manufacturing automation has resulted in increased the relation of fix costs to variable (Bromwich and Bhimani, 1994). red-hot forms of combat such as customer service, assortediation and innovation of products, quality. Hence, more importance is placed on t he monitoring of significant non-financial variables.Scapens et al (1996) argued that managers not necessarily management accountants have the necessary technology, access of data and in numerous cases the necessary skills to be their own pseudo accountants. Burns et al (2001) founded that globalisation, customer focus and new forms of competitiveness have affected the roles of management accountants. There has been increased global competition, market volatility and shorter product brio cycles contributing to the reform of management accounting roles.There has also been an increased focus on overheads as they now contribute to a substantial proportion of business costs. Consequently, there is increased focus on investigating the value added by overhead processes. Nevertheless, the analysis of overheads is a weak section of traditional management accounting. Considering the emphasis placed on traditional methods, it is questionable whether ripe management accounting research is gaining recognition by practitioners despite such research anticipating changes in modern day.Burns et al (2001) argued to the contrary of Johnson and Kaplan stating that a relevance gap does not exist. They argued that management accounting research has highlighted issues concerning management accounting change. Practice frequently searches for a profligate fix to problems failing to address fundamental issues. Practitioners and master sponsors fail to appreciate modern important investigations and management accounting research lots seeking solutions to problems victimisation traditional methods.Arguably, the problem does not lie in management accounting research which has accommodated changes but the way in which it is taught and generally accepted. Its a ignominy that new management accounting solutions are not thoroughly researched independently in the way new medicines are. Researchers have acknowledged the requirements of incorporating social science theories, different social and economic elements into accounting in order to expand practice effectively. This was seen with the development of a reward and control systems deriving from micro-economics, in particular berth theory, and social psychology (Merchant, 1998).However, professional textbooks do not mention such investigations and the way in which research pass awayd is questionable to the sustainability of the subject. It is argued that professional bodies place more emphasis on the examination and training of traditional management accounting methods. Thus, practitioners are denied access to vital knowledge relevant to their tasks. Arguably, if practitioners do not possess adequate to(predicate) grasp of knowledge based on modern research and theory, they are more likely to accept new methods with questionable validity only to find limitations following implementation.Burns et al founded a growth in international management accounting researchers in the last 30 years despite it being dom inated by the West. Thus, management accounting research is now dealing with new issues such as culture and ethnicity (Harrison and McKinnon, 1999), diverse political system regulation and judicature (Puxty et al 1987), dispersion of accounting knowledge internationally (Jones and Dugdale, 2002). Arguably, management accounting research is now broader and more flexible accommodating cultural variations. Management accounting research is now anticipating challenges encountered by practitioners.This includes areas such as contingent system design, motivations and rewards, environmental scanning and strategy, and non financial aspects of control (Burns et al 2004, pg. 16). However, it is questionable the level of emphasis placed on new methods anticipating changes in the substantive world and still the majority of contributions come from traditional methods which have been thoroughly tried and tested. Thus, considering the changes occurring in management accounting research and pract ice, practitioners need to adopt a cumulative continuous learning approach to update ones knowledge.Langfield-Smith (1997) founded that traditional methods in management accounting have become more automated as vatic to disappearing supporting the findings of Burns et al. They stated that increased and changed forms of competition, combined with technological advances, have resulted in tractableness and flatter organisations reforming the roles of management accountants. Despite Burns et al concluding that researchers are accommodating the changing roles and requirements of practitioners, their research findings can be criticised by the findings of Lawal (2002).Lawal (2002) founded that faculty members and practitioners have different opinions of the important topics ought to be taught. Lawal (2002) founded that academics highly valued budgets, organisational behaviours and IT in comparison to practitioners. Lawal (2002) also founded that academics placed less importance on skill s required by practitioners such as time-management, negotiation and team-working. She also founded little innovative and participative pedagogy methods for example videos, field studies and outside business speakers.Thus, Lawal (2002) argued a reform in teaching methods to incorporate case studies, real-life projects, group work and presentations and increased involvement by practitioners in teaching, in-depth research projects. This would arguably help management accounting research maintain its currency with practitioners. New managements accounting researches, proposals and methods are criticised by practitioners often highlight various inadequacies and limitations. Thus, many new proposals are discarded questioning whether management accounting research is maintaining its currency with practitioners.When evaluating new systems, practitioners often fail to refer to academic research findings on the potential obstacles and/or effectiveness. It is questionable as to whether manag ement accounting research has been sure-fire considering its little practical impact. This is vastly to do with the training and education which has excluded modern researches. Arguably, there have been poor mechanisms and incentives for turning research findings into qualified techniques and policies as well as incorporating such findings into teaching programmes as the roles and skills of management accountants change.Observations have found that professional accounting courses including many bodies emphasise on facts and methods abandoning fundamental theory and new research. Consequently, practitioners are sceptical of research having unrealistic expectations attempting to find quick and easy explanations/solutions to difficult problems. Practitioners do not obtain sufficient research skills from professional training. Burns et al (2004) founded that academics and practicing management accountants have different career paths obstructing shared interaction as well as dispositi on.Academics progression is based on research accomplishments as supposed to professional involvements. Thus, academics place less emphasis on practitioner focussed research considering the little benefit to them. The issues relating to management accounting research maintaining its currency with practitioners lie in the communication. A method needs to be adopted whereby the two are closely interrelated. The research by Burns et al (2004) has helped provide an insight into the changing roles and skills required of management accountants as well as the changes that have occurred in management accounting research.Such research by Burns et al is vital in understanding the reasons for changes in practitioner roles as well as requirements in order for management accounting research to maintain its currency with the practitioners. Arguably, research has kept up with times to accommodate changing requirements of management accountants. However, its application in practice is questionable and whether management accounting research is actually maintaining its currency with practitioners. Thus, methods should be adopted whereby research is accompanied with supporting evidence involving tried and tested methods.Suitable mechanisms and incentives for turning research findings into suitable techniques and policies should be developed and incorporated into teaching programmes. Management accountants are part of professional bodies that can incorporate new developments to the area in teaching. Professional bodies often release publications and this method should be used to communicate new management accounting research theories and findings that can be successful in practice. New management accounting research and theories are available on the internet but it is questionable whether such findings are actually used.Thus, practitioners should be encouraged to read upon new publications of management accounting research. Considering research is constantly underdeveloped with roles of management accountants changing, there should be increased publications by professional bodies for members in order for research to maintain its currency with practitioners. Management accounting research is significant to the healthy development of management accounting and maintaining its currency with practitioners.Management Accounting ResearchManagement accounting research has thrived producing substantive findings relevant to industry, but its application in practice is questionable. The requirements for management accountants have changed over the years in terms of the roles, skills and knowledge base required. Thus, arguably, industries should look at greater continued participation into higher education. Management accounting research has gone beyond the traditional costing for large industries. Traditional management accounting roles have been reformed and/or faded away.Burns et al argued that the new reformed roles of management accountants necessitate new educa tion and training. Considering the changes/emergence and popularity of new occupational management accounting roles including business analysts, strategic management accountants and management controllers, less prominence should be placed on traditional learning methods but more on case studies, practical projects and group research assignments (Scapens 1999). If such changes are to be implemented, large challenges lie ahead including cost constraints.Burns et al (2004) looked at management accounting research exploring the changes in terms of the expansion of topics, methods and problems making comparisons with the changes in management accounting practices. Burns et al (2004) also examined the skills and knowledge requirements by management accountants and how these aspects may also require a reform in education and management accounting curriculum. Burns and Yazdifar (2001) asked UK qualified management accountants to highlight the ten most perceived management accounting importa nt tasks, tools and techniques of 1995-00 and 2000-05.They founded that both sets of results, management accountants placed emphasis on traditional management accounting roles such as performance evaluation, budget planning and management, management accounts interpretation and presentation, cost and financial control. It was founded that management accountants perceived budgets as the most important task also highly ranking variance analysis in the late nineteenth century. Nevertheless, numerous new areas such as ABC, balanced scorecard were attributed as low significance.They also founded the expected importance of future tasks considerably changed with more emphasis being placed on newer tasks particularly in strategic planning and implementation, valued-added identification and implementation, new information system implementation, operational information interpretation. It was also founded that despite budgets and variance analysis being highly rated in the 21st century, more i mportance was placed on ABC, balanced scorecards. Thus, future years have more emphasis on strategy-aligned analysis and less emphasis on cost control and cutting.Identifying the requirements of management accounting practitioners can enable researchers to place more emphasis on such requirements during investigations in order to maintain its currency with practitioners. Burns et al (2001) questioned the reasons for changes in management accounting modelling the tasks as well as roles of management accountants. Consequently, they asked UK qualified management accountants to highlight what they considered to be vitally important contributions to change in management accounting.They founded that information technological advances including accountancy software advances and organisational restructuring as well as the new styles of modern management to be a vital contribution in driving change in the tasks and roles of management accountants. However, Scapens et al (2003) founded that c ustomer orientated initiatives and globalisation were the two fundamental drivers for change. Johnson and Kaplan (1987) argued the existence of a relevance gap between management accounting research and practice.They based their argument on fact that companies had one information system and external financial reporting statutory requirements would take preference over the information required by internal management accountants. Burns et al founded modern technological advances including database capabilities enabled the storage of vast amounts of information which can be analysed in various ways meeting the needs of a number of users. Thus, managers can easily access variances and performances.Modern technology has contributed to the change of management accounting roles. Fundamental advances in management operations and productions such as just-in-time have challenged previous methods such as Fords mass production. Manufacturing automation has resulted in increased the relation of fixed costs to variable (Bromwich and Bhimani, 1994). New forms of competitiveness such as customer service, differentiation and innovation of products, quality. Hence, more importance is placed on the monitoring of crucial non-financial variables.Scapens et al (1996) argued that managers not necessarily management accountants have the necessary technology, access of data and in numerous cases the necessary skills to be their own pseudo accountants. Burns et al (2001) founded that globalisation, customer focus and new forms of competitiveness have affected the roles of management accountants. There has been increased global competition, market volatility and shorter product life cycles contributing to the reform of management accounting roles.There has also been an increased focus on overheads as they now contribute to a substantial proportion of business costs. Consequently, there is increased focus on investigating the value added by overhead processes. Nevertheless, the analysis of overheads is a weak section of traditional management accounting. Considering the emphasis placed on traditional methods, it is questionable whether modern management accounting research is gaining recognition by practitioners despite such research anticipating changes in modern day.Burns et al (2001) argued to the contrary of Johnson and Kaplan stating that a relevance gap does not exist. They argued that management accounting research has highlighted issues concerning management accounting change. Practice frequently searches for a quick fix to problems failing to address fundamental issues. Practitioners and professional sponsors fail to appreciate modern important investigations and management accounting research often seeking solutions to problems using traditional methods.Arguably, the problem does not lie in management accounting research which has accommodated changes but the way in which it is taught and generally accepted. Its a shame that new management accounting solu tions are not thoroughly researched independently in the way new medicines are. Researchers have acknowledged the requirements of incorporating social science theories, other social and economic elements into accounting in order to expand practice effectively. This was seen with the development of a reward and control systems deriving from micro-economics, in particular agency theory, and social psychology (Merchant, 1998).However, professional textbooks do not mention such investigations and the way in which research communicated is questionable to the sustainability of the subject. It is argued that professional bodies place more emphasis on the examination and training of traditional management accounting methods. Thus, practitioners are denied access to vital knowledge relevant to their tasks. Arguably, if practitioners do not possess adequate grasp of knowledge based on modern research and theory, they are more likely to accept new methods with questionable validity only to fin d limitations following implementation.Burns et al founded a growth in international management accounting researchers in the last 30 years despite it being dominated by the West. Thus, management accounting research is now dealing with new issues such as culture and ethnicity (Harrison and McKinnon, 1999), diverse political system regulation and governance (Puxty et al 1987), dispersion of accounting knowledge internationally (Jones and Dugdale, 2002). Arguably, management accounting research is now broader and more flexible accommodating cultural variations. Management accounting research is now anticipating challenges encountered by practitioners.This includes areas such as contingent system design, motivations and rewards, environmental scanning and strategy, and non financial aspects of control (Burns et al 2004, pg. 16). However, it is questionable the level of emphasis placed on new methods anticipating changes in the real world and still the majority of contributions come fr om traditional methods which have been thoroughly tried and tested. Thus, considering the changes occurring in management accounting research and practice, practitioners need to adopt a cumulative continuous learning approach to update ones knowledge.Langfield-Smith (1997) founded that traditional methods in management accounting have become more automated as supposed to disappearing supporting the findings of Burns et al. They stated that increased and changed forms of competition, combined with technological advances, have resulted in flexibility and flatter organisations reforming the roles of management accountants. Despite Burns et al concluding that researchers are accommodating the changing roles and requirements of practitioners, their research findings can be criticised by the findings of Lawal (2002).Lawal (2002) founded that academics and practitioners have different opinions of the important topics ought to be taught. Lawal (2002) founded that academics highly valued bud gets, organisational behaviours and IT in comparison to practitioners. Lawal (2002) also founded that academics placed less importance on skills required by practitioners such as time-management, negotiation and team-working. She also founded little innovative and participative teaching methods for example videos, field studies and outside business speakers.Thus, Lawal (2002) argued a reform in teaching methods to incorporate case studies, real-life projects, group work and presentations and increased involvement by practitioners in teaching, in-depth research projects. This would arguably help management accounting research maintain its currency with practitioners. New managements accounting researches, proposals and methods are criticised by practitioners often highlighting various inadequacies and limitations. Thus, many new proposals are discarded questioning whether management accounting research is maintaining its currency with practitioners.When evaluating new systems, practi tioners often fail to refer to academic research findings on the potential obstacles and/or effectiveness. It is questionable as to whether management accounting research has been successful considering its little practical impact. This is vastly to do with the training and education which has excluded modern researches. Arguably, there have been poor mechanisms and incentives for turning research findings into suitable techniques and policies as well as incorporating such findings into teaching programmes as the roles and skills of management accountants change.Observations have found that professional accounting courses including many bodies emphasise on facts and methods abandoning fundamental theory and new research. Consequently, practitioners are sceptical of research having unrealistic expectations attempting to find quick and easy explanations/solutions to difficult problems. Practitioners do not obtain sufficient research skills from professional training. Burns et al (2004 ) founded that academics and practicing management accountants have different career paths obstructing shared interaction as well as understanding.Academics progression is based on research accomplishments as supposed to professional involvements. Thus, academics place less emphasis on practitioner focussed research considering the little benefit to them. The issues relating to management accounting research maintaining its currency with practitioners lie in the communication. A method needs to be adopted whereby the two are closely interrelated. The research by Burns et al (2004) has helped provide an insight into the changing roles and skills required of management accountants as well as the changes that have occurred in management accounting research.Such research by Burns et al is vital in understanding the reasons for changes in practitioner roles as well as requirements in order for management accounting research to maintain its currency with the practitioners. Arguably, resea rch has kept up with times to accommodate changing requirements of management accountants. However, its application in practice is questionable and whether management accounting research is actually maintaining its currency with practitioners. Thus, methods should be adopted whereby research is accompanied with supporting evidence involving tried and tested methods.Suitable mechanisms and incentives for turning research findings into suitable techniques and policies should be developed and incorporated into teaching programmes. Management accountants are part of professional bodies that can incorporate new developments to the area in teaching. Professional bodies often release publications and this method should be used to communicate new management accounting research theories and findings that can be successful in practice. New management accounting research and theories are available on the internet but it is questionable whether such findings are actually used.Thus, practitioner s should be encouraged to read upon new publications of management accounting research. Considering research is constantly developing with roles of management accountants changing, there should be increased publications by professional bodies for members in order for research to maintain its currency with practitioners. Management accounting research is crucial to the healthy development of management accounting and maintaining its currency with practitioners.

Inflation and Unemployment Essay

Recently, the United pass ons of America has been bombarded with a great financial crisis. Many companies resulted to bankruptcy forcing the owners to close their businesses. Other companies had lay-off some workers to diminish the operating costs of their business. Few other companies resulted to cutting the employees benefits to avoid laying-off and closure. Workers earning below marginal income resigned from their personal line of credit in the hope that they could find another job which pays better.Among these responses, the most notable problem is the increase in the rate of unemployment. In a report from Bureau of Labor Statistics (2009) among the 2,309 population in Iowa only 1,602 are employed while 62 are jobless in 2007. In 2008, from 2,325 members of the population, 1,607 are employed while 69 are jobless. Measuring the employment-population ratio of Iowa residents ancienter 16 years and above, the rate of unemployment was at 69. 4 percent in 2007 and 69. 1 percent i n 2008 (U. S. Bureau of Labor Statistics, 2009).Meanwhile, the U. S. Bureau of Labor Statistics (2009) inform that the unemployment rate in Waterloo- true cedar move Metropolitan Area rose at 8 percent in February 2009 whereas the jobless rate was recorded at 4. 9 percent. This is relatively high as compared to unemployment rate in 2008 which was at 3. 9 percent and in 2007 which was at 3. 7 percent (U. S. Bureau of Labor Statistics, 2009). State inflation has been identified as one of the major factors that contributed to the increased number of the unemployed.Inflation refers to a process in which the average direct of prices increases at a substantial rate over a considerable result of time (Grolier Encyclopedia, 1995, 150). This implies that more money is needed to buy a certain amount of products and services. In Keynesian term, the kind of inflation and unemployment has been described as Wage costs are among the costs that rise in response to higher pries. When unemployme nt is low, employees can old out for full compensation for the higher prices, and raises above that.When unemployment is high, however, the employees will have to settle for less, and so costs do not rise as unfluctuating as prices when unemployment is high. (cited in Inflation and Unemployment). Adopting this term in the case of Waterloo-Cedar Falls, the high price of goods and services lead to increase in the number of unemployment since the companies are agonistic to cut down their human resources to adapt to the increasing prices of goods and services that caused high costs in production. There are also times in Waterloo-Cedar Falls when high unemployment caused high inflation yet the production cost did not increase as fast as the prices.In this situation, high employment is caused by low labor wage. Since the wage is low, the demand for product and services is also low forcing the companies to increase their prices in order to compensate for the low demand of products and se rvices. Analyzing the relationship between inflation and unemployment the seeing factors are said to contribute to the increase or decrease of the two variables wage as part of production costs, level of demands and supply, and cost of goods and services.Depending on the movement or behavior of these factors, the level of inflation or unemployment will either increase or decrease. Yet, it does not always follow that when unemployment is high inflation is also high or vice versa. There are other instances when unemployment is low yet the level of inflation is high or vice versa. Again the increase or decrease in level of the two variables depends on the above mentioned contributing factors. The Waterloo-Cedar Falls, however, tried to address the problems of inflation and unemployment by creating job opportunities for its residents.As expressed by Bob Seymour, Cedar Falls community services manager and economic development director, in an interview by Jim Offner (2009) Obviously, wer e not immune to whats going on nationally, but were pleased that weve been able to see some expansion and new-project interest in Cedar Falls right now. The university obviously keeps us on an even keel, and I think our business community has goldbricked to be more diversify and in a better position to weather these down times. Projects like Target Corp.s new perishables distribution warehouse and retail developments in Cedar Falls also are helping the city withstand national trends. (cited in Offner, 2009). This solution however is applicable only for a short period of time. To really solve the problem of inflation and unemployment, Waterloo-Cedar Falls should implement a demand managing policy wherein the government and private sectors will be required to learn how to manage demands in supply (both of labor and product materials) and demands in product and services according to economic situation.Such management is needed so that the mass of Waterloo-Cedar Falls will be trained to expect the worst consequences of increase or decrease level of inflation and unemployment. References Grolier Encyclopedia. (1995). Inflation. In U. S. Grolier Encyclopedia of Knowledge 10, 150. regular army Grolier Incorporated. Mc Cain R. A. 2009. Inflation and Unemployment. Retrieved April 24, 2009 from http//william-king. www. drexel. edu/top/prin/txt/AS/where1. html Offner, J. (2009). Local jobless rates among best in state.Retrived April 24, 2009 from http//www. wcfcourier. com/articles/2009/03/11/news/breaking_news/doc49b7a3bf91f75482515049. txt U. S. Bureau of Labor Statistics. (2009a). Over-the-year castrate in unemployment rates for Metropolitan Areas Monthly rankings, not seasonally adjusted. Retrieved April 24, 2009 from http//www. bls. gov/web/laummtch. htm. U. S. Bureau of Labor Statistics. (2009b). Regional state and unemployment, 2008 annual averages. Retrieved April 24, 2009 from www. bls. gov/news. release/pdf/srgune. pdf.

Ethics Game Simulation Reflective Journal

Ethics Game cloak Reflective Journal Ethics Game Simulation Reflective Journal Ethics is defined as the branch of philosophy concerned with evaluating human action meaning character, customs, or habitual riding habits, ethics encompasses a process of determining right conduct from wrong. (Guido, 2010, p. 3). Nurses are confronted with numerous honorable dilemmas that are intertwined with legal issues. Concepts of ethical and legal concepts are frequently interplayed and decisions between the cardinal are often intricate.One must go through steps of the critical decision process and contemplation among the four lenses for the best solution. The four lenses include the Rights and responsibility lens, the Results lens, the Relationships lens, and the Reputation lens. (Ethicgame, 2012). Based on moral, value and virtual one cigarette come to the best decision going through each lens. Two scenarios were presented in the ethic simulation game. The first one involved a 16- year- old g irl in active labor, whose parents are adamant on limiting medical assistance and pain relief.Their decision was based on bad premise of religious belief to punish the patient for premarital pregnancy. The ethical dilemma in this case is that the patient is a minor, and legally the parents are entitled to make decisions regarding her care. Ethically, as nurse we are in a position to do no harm and provide adequate care to the patient. In the simulation, question of many aspect of decision- making were raised. Course of action to take, stakeholders and how their perspective role will be influence by my decision were analyzed.Rights and responsibility and the result lens were used to make the decision in the simulation. The ethical thing to do in this office staff is to advocate for the most vulnerable, which in this case is the patient who is a miner. Although her parents have the legal right, their intention was to punish and not for the patients best interest. tranquillize the pa rents would result in defying our duty as a nurse of nonmaleficence but going against their wishes may result in lawsuit. Additionally to challenge the parents of their intentions may award negative feelings and violate their right to autonomy.Although the parents disapprove of their daughters premarital pregnancy, they would not want any harm to come to her. Through educating the parents on the severity of the circumstances they can be guided, and not forced, to make the right decision. The second scenario presents an unconscious(p) patient whose uniform-sex house servant partner was denied access for visitation. The written policy of the hospital is to treat domestic partners like married couples. The supervisor that made the call used their own interpretation of the policy clouded by their own agenda.The ethical dilemma in this situation is that equal rights that allow the same accessibility for domestic partner should be provided without discrimination to gender. The organiza tions core value was clearly profaned here, and interventions need to be made. Relationship lens and the Reputation lens were used in this scenario along with nurses duty to treat everyone as equals. It is elementary human rights to have their own support system in a time of need. Especially in the case where the patient is unconscious, their domestic partner would be the one person who understands their wants and needs.It is unethical to deny visitation privileges based on race, religion, sexual orientation, color, or disability. In cases where it is medical appropriate, visitation privileges should not be restricted. Advocating for an unconscious patient of their domestic partners visitation rights would be in our ethical principle of beneficence. Concepts in the simulation jolt recalls of various scenarios in my work where ethical decision had to be made. Working in a long-term acute care facility, I encounter numerous patients who are unconscious or are pronounce medically inc apable of making their own decisions.As a trusted health care professional, we are the patients voice who cannot speak for themselves. My second business organization I work as a supervisor for a convalescent hospital. Working in this modern day with very culturally diverse population as a supervisor I would need to set the tone for my organization. Legal, medical, and ethical ramifications are considered and carefully analyzed for situations in both of my jobs. Struggling with obscure ethical decisions is frequent as nurses. The model in the ethics simulation game provides the importance of assessment needed by utilizing the four lenses.The most ethical decision is often not the easiest one to make. Ethics has personal value attached and varies upon each individual. Working for leaders who values ethics and staff who understands the same values is a must for the best outcome. Advocating for the patient at times means jumping through hoops. Setting our personal agenda and interes t asunder is a basic requirement as a healthcare professional. The team needs a leader that can assess a situation and use appropriate judgments to come up with the best solution.Medical, legal, ethical consequences must be considered in complicated situations regardless of different values. As one with authority, it is important to be committed to inspire and motivate others based on the organizations core value. To have the knowledge and tools to assess and the best course of action proves to be crucial to turn over the best solution. References EthicsGame. com (2012). Ethics Lens Inventory. Retrieved August 30, 2012 from http//www. ethicsgame. com/Exec/Doorway/List. aspx Guido. G. W. (2010). Legal & ethical issues in nursing (5th ed. ). Upper Saddle River, NJ Prentice Hall.

Financial Management Essay

disassemble A There are three master(prenominal)(prenominal) areas of ending making for the corporate financial manager investiture The choice of projects or assets in which to invest phoner funds. Competing alternatives have to be assessed using a tote up of techniques. This type of decision testament also be of concern to the private individual when making choices or so which deals to buy.Finance How these coronations should be financed. It is necessary to evaluate the possible sources, external and internal, and the effect they impart have on the capital mental synthesis of the company. Dividend Whether corporate earnings should be contain or paid bring out in the form of dividends, and if the latter, when the dividends should be paid. Otherwise, we will cover the risk caution as well as the focal point of a companys assets and liabilities in its working capital cycle. Assets must be managed effectively so that they generate income and scratch, and so that funds are in stock(predicate) to pay creditors and take up opportunities for investment.In compend , in that locationfore, we gutter say that financial management involves the following areas as investment decisions, funding decisions, including the capital structure of the company, dividend decisions, risk management.This implies that dividend payments and gains made when selling a shareholding are better indicators of shareowner wealth than profits. However, if the dividend payments are not consistent over a period of time, this will not sum up confidence in the company shares, and their trade price will reflect the variability of dividend payments. When the shareholder sells their investment, they whitethorn lose money. The prime objective of the company therefore needs to be adjusted slightly to the maximization of broad- experimental condition shareholder wealth.This will be indicated by maximisation of dividends over time and reflected in the market apprize of the ordinar y shares.If the share price reflects shareholder wealth, then we can say that any financial decision taken to increase the value of shares will be a decision that taps shareholder wealth, and will be in tutelage with the prime objective of the company, such a decision can involve are using idea techniques to assess investment projects and sourcing funding to provide for the company the most appropriate capital structure that can be serviced from available funds and paying dividends that the company can afford, while leaving sufficient retained earnings for investment and managing the risks associated with these decisions.This may leave you with the impression that the managers of a company will carry out its day to day functions efficiently and effectively on behalf of the owners, alship canal asking themselves about the result of the decision maximise shareholder wealth, this is a realistic view because of the tension between ownership and control of company. That is limitations of shareholder wealth maximisation as concern to self-confidence possibleness.Agency theory is based in the detachment of ownership and control that distinguishes the limited liability company from the other two business entities of the sole monger and the partnership. The relationship between shareholders and management is the principal agent relationship, and has given reis to agency theory. Where an agent was defined as a person used to effect a contract between their principal and a troika party.The agency problem is that managers may not always act in the best elicit of the shareholders, to maximise the latters wealth. Offering incentives, such as share options, to managers may reduce this problem.Solving the agency problem When the agency problem exits, therefore, when managers or directors do not act in the best interest of the shareholders to maxmise the latters wealth. Management goals could include increasing their rewards. It was suggested in an earlier activity th at two ways to ensure that management act in shareholders interests are to vote unacceptable directors off the board, or to put up share options. Shareholder could monitor the actions of managers using independently audited accounts, backed up by additional account requirements and external analysts.The managers may not act in the best interest of the shareholders, so they may be offering other such as share options. However, the share options also have some things to rent as the advantages is encourage managers to maximise shareholder wealth since the option may result in their beingness able to sell shares at a higher price. But the disadvantages is the price of shares is influenced by some factors alfresco the control of management, so the benefits may accrue despite management actions. Managers may also change be polices to improve the performance of the company and influence the share price deliberately.Otherwise, Capital structure refers to the way an entity pecuniary r esource its assets through a combination of equity and debt. An entitys capital structure is then the composition or structure of its liabilities.Capital structure ratios show an entitys capital structure and measure its ability to pucker its long term obligations. If the entity appears unable to meet its long term obligations, it will be in terrible danger of collapse or takeover. Further, long term financial position depends much on an entitys profitability since, in the long run, the entity will not be able to repay its debts unless it is profitable.The capital gear ratio is a measure of the financial risk of an entity because of the prior claim that debt capital has on the profits and assets of the entity in the event of liquidation. Also, if the profits are low, the entity may not have sufficient funds available to make dividend payments to the ordinary shareholders.Capital gearing ratio (preference shares + long term loans) / (shareholders funds + long term loans) X 100 The difficulty is the inclusion of preference shares, since they take many different forms. If a companys preference shares are of the standard type, that is, having no voting rights and conveying nothing just now the right to a fixed rate of dividend, they should be included as debt funding.The higher the percentage, the higher the take of gearing. It is advisable to include short term debt such as overdraft if it is used to fund long term investments and is not, therefore, of a temporary nature and bears a financial risk.A highly geared company may also experience difficulties in attracting funds from investors, who are not attracted by the risks involved in a high geared company. In this event, the market price of the companys shares will fall.The more(prenominal) debt, the more risk for ordinary shareholders and ultimately for everyone, if the company faces liquidation. However, the more debt, the lower the WACC because debt is cheaper than equity. At very high levels of debt, however, the WACC will rise because of the higher levels of risk involved.Reference Notes of the University of Sunderland APC308 Financial Management Conclusion The areas of corporate financial management are the decisions concerning investment, funding, dividend and working capital. And the company will use the gearing ratio to express the debt funding as a percentage of the total funding, because the high gearing ratio also brings problems associated with the interest rates and the main objective in financial management is the maximisation of long term shareholder wealth that is the market value of the ordinary shares, because it is related to the how many dividends will pay to shareholders. However, the agency problem is a main problem on the managers may not act in the best interest of the shareholders, so they may be offering other such as share options.Part B In Part A, i have explored two of three main areas of decision making for corporate financial managers the investment d ecision (NPV) and the finance, or funding, decision. In this part i am concerned with the third area, the dividend decision. The basis for the discussion in this part is the need for dividend policy and the relevance of dividend policies to investors.NPV is a net toast value is the present value of the future recipts from a project less any investment made in the project.Modigliani and millers theory dividends are irrelevant but almost is not quite. MMs theory of dividend irrelevancy refers not to the payment of the dividends but to the timing of their payment.According to MM, if a company has an investment chance giving a positive NPV, it should be taken up using retained earnings rather than paying out a dividend. The companys value will go up, since share value is a function of the level of earnings, which reflect a companys investment policy, rather than a function of dividend payments.Similarly, in their theory of dividend irrelevancy they say that shareholders can create their own dividend, if they want to, by selling some of their theory of dividend, if they want to, by selling some of their shares. In a meliorate market, shareholders can create a dividend stream to suit themselves, so it works in reverse as well if the company does pay a dividend and the shareholder does not want one, they can reinvest by buying more shares.Otherwise, MMs view is that it is not the company but the individual shareholder who should decide dividend policy. Therefore, there is no such thing as an optimal dividend policy for a company, only an optimal investment policy. This would be a policy of investing in all projects with a positive NPV. In a perfect capital market, a company with insufficient internal funds could raise the funds involve for investment externally. If a company had surplus internal funds, there could be distributed as dividends.

Biomedical Technology In Ethics and Religion

here ar many an early(a)(prenominal) misconceptions in biomedical genealogy, mostly caused by the many viewpoints and opinions concerning it. When formulating opinions and viewpoints, it Is crucial to be properly educated about that particular topic. The lack of acquaintance and moral broil may hinder clientele seek. Although critics argue that it is wrong to manipulate deoxyribonucleic acid, with genetic treatment, certain diseases can be eliminated, and cloning holds the ability to produce human harmoniums viable for transplant.Critics argue that it Is unethical to manipulate DNA Some say it Is dangerous because there Is not much knowledge about it. However, genetic manipulation is not a new concept. Some may say that Hitler had this idea before most scientists. An Indo-Aryan race is what Hitler striver for. If simply he knew that his idea of deciding what genes raft receive would carry on even to this day. Scientists are discovering new ways to control what traits ar e passed through heredity. In the future parents may get to decide what traits their children receive.This breakthrough in technology is rattling controversial. Some critics continue to argue that its unethical to manipulate the genetic makeup of human eggs even if here Specter of Human cl unrivaled). Many religious and moral leaders believe that manipulating DNA crosses a boundary that only divinity fudge has the right to cross. Many likewise believe that scientists should not use human embryo in exam because it is wasting human life. Scientists are developing new tests that can determine whether or not a child has a birth defect or disability very early on In pregnancy.In this, parents can decide if they would like to keep their child or not. Religious and ethical people are outraged at such tests because they believe that human life should not be a choice. The difficulty is that researchers arent allowed to use human embryo in such tests, Knish said, so Instead, they use ani mal embryo(Peeler 6). The engagement with using animal embryo, Is that scientists do not get the same results as they would if they were to use human embryo. great deal expect exact results and breakthrough discoveries but they are not imparting to pay the price.Genetic manipulation holds the materialise that certain diseases can be eliminated. This Is one of the many benefits that come with genetic manipulation. Some say that scientists are finding new ways to control what traits get passed through heredity. If that is so, scientists can make the traits that carry nee diseases vanish. If scientists can manipulate DNA to relinquish the formation of certain diseases, they will know what causes that disease. This advancement will not only prevent people from obtaining disease but will also eliminate It In people who already have It. We will see disease eliminated in the future, or we will see the creation of new and 1 OFF unleashed(Decolletage 75). Some believe that once technol ogy goes so cold it will be an unstoppable, dangerous force. Many think that scientists manipulating DNA is imply too far. Can we, however, handle opportunities to improve human health(Decolletage 51). What if no one in the world had cancer, down syndrome, or other disabilities and diseases? People would not oppose research so much if they knew what the outcome would be. People are xenophobic to take risks they do not want to put their fate in someone elses hands.What if those hands of age(p) illness and disease? In addition, new biomedical technology such as cloning holds the opening of cloning human organs that are viable for transplant. Thousands of people each year die because of organ shortages. Cloning human organs can eliminate this epidemic. If organs can be specially do for each individual who needs one, organ transplant waiting lists can be eliminated. An average of 18 people die each day waiting for transplants that cant take place because of the shortage of donated organs(The engage Is Real Data).These deaths can be prevented by cloning. However, many people believe that cloning is very unethical and goes against religion. This hinders the formation of cloning and holds back scientists from imperative research. The lack of support given by the people for cloning research impedes government and local ending and aid. The delay in funding and aid creates a rift in research. Many people support biomedical technology and cloning, but only to a certain extent. Most religious people are concerned about cloning because they believe that only God has the right to give and take life in any form.In reality, fear and the lack of knowledge inhibit many religious and ethical people from supporting the idea of cloning. If we hope to direct the family of this powerful technology, we should strive to learn as much as we can about these molecular tools and thus let scientists and corporations know our wishes. Only then can we truly expect to avoid the risks and enjoy the build up and the promises of our genetic future(Decolletage 112). Advocates and antagonists some(prenominal) need to strive for further knowledge about this subject in order to tell scientists exactly what they want.How can scientists know how far to take their new technology, if no one has the correct knowledge to tell them where is too far? In conclusion, there are many opinions and viewpoints on the topic of biomedical technology. These can help but they can also hinder scientific research in many ways. One of which is the opinion of religious and ethical people. These people can bring up valid points and bring forth new thoughts and useful ideas about biomedical technology, but they can also let their personal views get in the way.Often times the opinions of religious and ethical people are blurred or disrupted by their personal views. This can lead to extremist views that believe all biomedical technology goes against religion and is unethical. Many people wil l align themselves with one ideal or immortal without educating themselves and considering other viewpoints. In order for both sides of this debate to reach a compromise there must be an open forum of to only communication but also education between both parties.

One of the major characteristics that Beowulf and Hamlet Essay

One of the major characteristics that Beowulf and critical point share is the fact that they both(prenominal) rid Denmark of a treacherous heavyweight who poses a serious threat to the land. Beowulf uses his warrior-like skills to fight and conquer a physical monster who literally haunts the swamps outside the state and plagues it with homicidal acts. Hamlets monster is withal one who commits murderous acts, though this is in the form of his uncle Claudius who kills the King (Hamlets father) and usurps the Danish throne.The two men, Hamlet and Beowulf, are impel into these battles as youth, and both take on the challenge willingly. In fact, Beowulf travels from Geatland specifically to meet the challenge of engagement Grendel. Hamlet too takes it upon himself to kill Claudius as soon as he finds out that this man has been the gene of his fathers death. Another characteristic that both Hamlet and Beowulf share is their death and the method in which this occurs. Both are defeate d in their final efforts at ridding their homelands of the evil that had infiltrated.In fact, both faint though their efforts are successful. Beowulf dies at the hand of the final monster (the dragon) whom he succeeds in slaying, but who also deals Beowulf a deathly blow that ultimately kills him. Hamlet also has a similar experience in that, while he is able to slay Claudius by the end of the play, he is caught with a poisoned sword and eventually expires after all his enemies have died. The two characters die by peripheral (yet fatal) blows given them during the melee. Both take the stand bravery by continuing to fight even while they are mortally wounded.Eventually, both consent to the serious wounds they have acquired, yet they die in the victory of knowing they have defeated their enemies. Beowulf and Hamlet also differ in many ways, one of which is the character that they show throughout the play. While Beowulf displays a warrior-like character, Hamlet shows himself to be fearful and awkward in acting out the desires of his heart. Beowulf is eager to come to the aid of the King of Denmark, and he pauses only to partake of the feast given in his honor before he sets out to kill Grendel.When he encounters the monster, he loses no time in indecision but straight off performs the actions necessary to kill the beast. In fact, Beowulf fights three ferocious beasts throughout the story with the same vivacity and fierceness. Hamlet differs from Beowulf in his character, and he displays the tendency to employ a much more subdued and stealthy course of action. though he too determines to defend the honor of Denmarks (former) king by killing his murderer, he demonstrates a greater portion of dalliance and indecision than does Beowulf.When he gets his first chance to kill Claudius, his idle thoughts concerning the nail down of Claudius heart (while praying) leads him to forfeit that chance and allow Claudius to live. He fails in his pursuits far more than Beo wulf does too, because in his blurb attempt to kill Claudius, he ends up killing Polonius instead. In these ways, Hamlet shows himself to lack self assumption in a manner that is vastly different from Beowulf the ready warrior. Beowulf and Hamlet show differences in the promote of their lives and the fulfilment of their royal destinies.Hamlet, unlike Beowulf, fails to ascend to the throne to which he is heir. He dies before the throne falls vacant and also fails to prove King Claudius a usurper in any effort to slang his rightful place on the throne. Beowulf, on the other hand, is able to spend fifty old age as ruler of his Geat kingdom. In addition to this, Beowulf differs from Hamlet in his ability to live out his live and to cook old age. He is able to demonstrate his strength as a ruler for many years and to gain the respect of his subjects.Hamlet, who dies young, is unable to do any of this. He is never able to command the subjects everyplace whom he was destined to rul e precisely because of the fact that his life ends tragically in his youth. Therefore, while both men perform in the role of princes during their youth, Beowulf becomes promoted to the level of king while Hamlet dies with all his potential. whole shebang Cited Beowulf. The Harvard Classics, Volume 49. Frances B. Grummere (Trans. ) 1910. P. F. Collier & Son, 1993. Shakespeare, William. Hamlet. London Penguin, 1994.

Managing Workforce Diversity Essay

When we say diversity this refers to differences within the governance. This includes gender or sexual orientation, nationality, physical condition, family status, religious orientation and heathenish differences or cultural background. An organization or a company may bedevil diversities on their employees as tumefy as the culture itself. Many companies oblige done so much effort to embrace diversity however there are assist roughly who are not given equal treatment or existence valued because of being different. This is maybe because of the impression that, anyone who is perceived as different is likely to have a difficult clipping contributing to company goals and experiencing own(prenominal) growth.Most companies nowadays conduct diversity education to eliminate values, stereotypes and managerial practices that inhibit employees personal development and to allow employees to contribute to organisational goals regardless of being diversified. In managing diversity, in volves creating an surroundings that allows all employees to contribute to organizational goals and experience personal growth. This environment includes access to job as well as fair and positive treatment to all employees. This is to provide an environment which allows employees to feel comfortable. This may acquire the company to change its culture to drive performance and enables employees in becoming a result orient one.Diversity can enhance the performance of the company when the organization itself has an environment which promotes learning from diversity. Success of an organization with diversity requires it to be viewed as an opportunity for employees to learn from each other how to better live up to their work, to be provided with a supportive and cooperative organizational culture, and be taught leadership and process skills that can facilitate effective team functioning. Managing Diversity through Adherence to LegislationDiversity can be managed through adhering to legislation. We have laws which protect people from discrimination either because of their diversity. Companies can definitely managed diversity by promoting or creating policies to protect the employees. In such cases, discrimination impart be eliminated or abuse to such will be prevented. This will increase the morale of theemployees knowing that they are being cared for. But at some point, if merely adhering to employment laws may result to frustration leading to minorities and women leave the organization. This is due to adhering only and neglect of giving more opportunities to these minorities.Managing Diversity through Diversity prepare ProgramDiversity training refers to training designed to change employee attitudes about diversity and/or to help employees develop skills needed to work with a diverse workforce. To successfully manage a diverse workforce, companies need to ensure that Employees understand how their values and stereotypes influence their behavior toward pe ople of a different gender, ethnicity, race or religion Employees gain an appreciation of cultural differences among themselves. Behaviors that isolate or intimidate minority group members improve. Below are some Diversity Training Programs which a company may conduct. Attitude Awareness and Change Programs focus on increasing employees consciousness of differences in cultural and ethnic background, physical characteristics that influence behavior towards others.Behavior-Based Programs focus on changing the organizational policies and individual behaviors that inhibit employees personal growth and productivity. Cultural Immersion refers to the process of sending employees directly into communities where they have to interact with persons from different cultures, races, and/or nationalities. Diversity exists and is very apparent whichever industry one may belong. What is around important is that everyone is given equal opportunities and is not being discriminated because of thei r minorities or being different. Policies should be observed to gain and develop the skills of the employees. Diversity will allow company to grow if given importance as it may influence one from the other. For as long as the organization knows the ins and outs of the employees would best benefit the organization allowing personal growth and valuing once role in the organization.