Valuation and Investment Analysis Term Paper Example | Topics and Well Written Essays - 750 words

Valuation and Investment Analysis - Term Paper Example Due to the moderate U.S. economy, Best Buy has been tormented by declining deals during the most recent couple of years. Despite the fact that the organization revealed misfortunes of 2.4% for 2012, it was principally because of the buyout of Best Buy Mobile for $1.3 billion. For 2013 the organization announced a 0.5% shortfall, however the organization had the option to record a net benefit of 1.3% in 2014 without precedent for the most recent three years. The organization has been endeavoring to change its working methodology and trim tasks so as to pivot their monetary presentation. In 2012, the organization recruited new CEO and turnaround master Hubert Joly which amended the companys technique, shut down a considerable lot of the less gainful huge box store, extended a significant number of the littler retail location outlets, extended their versatile best purchase store outlets, smoothed out and improved their online activities. In the midst of rivalry from goliath retailers like Amazon.com and Wal-Mart in the shopper hardware business, Best Buy is hoping to divert their technique through acquisi tions and further extending their cell phone business in China and Mexico through their new pursuit of Best Buy Mobile. The company’s new technique for their electronic business includes expanding the all out number of retail locations, while diminishing their general area so as to diminish fixed expenses. The organization looks to improve their on-line incomes and client experience by offering free transportation and increasingly serious evaluating. By dissecting the companys in general monetary execution, budgetary proportions and playing out a valuation examination this paper will decide if Best Buy is a decent long haul speculation. So as to assess the companys future money related execution I should figure the companys development rate and normal rebate rate. The development rate was determined by increasing the arrival on working capital by the degree of consistency. Based

Help Me With My Essay Help!

Help Me With My Essay Help!I want to help you with your essay help and you're trying to figure out what to write. This is a very tough part of the whole process, and there are a number of factors that affect it. For one thing, your choice of topic will greatly affect the essay itself. We'll look at the kinds of subjects that most students choose for their essays.The first, and by far, the most common subject for an essay is that of history. Because the age-old dilemma of who started what and why has not gone away, and there is no shortage of interesting historical facts that you can use to your advantage. Your choice of topic is up to you but remember that historians always have questions and you should be ready to answer them.To give you more essay help, consider writing about religion, world religions, or philosophy. Each of these has its own different challenges. While some topics are more popular than others, in general people find it easier to write about current topics like rel igion and world religions, because their facts are often current and they do not have to try too hard to make their subject come across.Current events are probably the second most popular subject for college students to write about. Unfortunately, the problem is that history is more popular than many people think, and current events are even less appealing. They tend to include the latest wars, problems that have been plaguing humanity for a long time, and the problems of the present.So, what are you supposed to do to help me with your essay help? Answer those questions and you may get to the meat of the matter - your own life story! Try to bring in any tidbits of personal information, and if possible include an anecdote or two that will tie all the events together.You can also use your study habits to your advantage. For example, if you take notes during lectures that take place on location, or if you take notes while you read, then that can be used to help you with your essay help . You will need to research each topic thoroughly, but if you can be selective with what you choose to read about, then you will have a leg up on the rest of the crowd.Of course, some people like to write about current events, and they might be able to use that as a topic. But because people keep on changing so rapidly, unless you are writing about something that has stayed fairly constant, you will have to rely on the world famous expression: When in doubt, stick to the basics.That's really the main objective of the essay; to learn as much as you can about the topic. But sometimes, the only way to do that is to take a look at past history, or at least the parts of history that had a significant impact on the current age. If you have any other suggestions for essay help, or if you need to turn your essay into a paper, then please contact us and we will work with you.

Financial Statements How Does Currency Translation Work

Financial Statements How Does Currency Translation Work If your business entity operates in several countries, chances are you also use different currencies as part of your business operations. But when it comes to reporting your company’s finances through financial statement, you aren’t allowed to use more than one currency.In order to have your financial statements recorded in a single currency, you’ll need to perform currency translation. What does currency translation entail and what are the different methods used in the process? This guide will answer both of those questions and give you tips to avoid common mistakes associated with currency translation in your accounting procedure. © Shutterstock.com | file404In particular in this article, you will learn 1) what is currency translation, 2) why currency translation is needed and used, 3) the three steps of currency translation, 4) how the rates are determined, 5) avoiding the common mistakes, and 6) how to mitigate the risks of currency translation.WHAT IS CURRENCY TRANSLATION?Before we look at the definition of currency translation, it is a good idea to define some of the key terms used in the process. Below is a break down of the three key terms: currency, financial statements and exchange rates.What are currencies?Currency is a generally accepted form of money, which includes both coins as well as paper notes. It is issued by a specific government and circulated within the government’s jurisdiction.Currency is used as the medium of exchange when people deal with goods and services. It is essentially the basis for trade.Most countries of the world have their own currency. Some of the most known official cur rencies and their countries include:The US Dollar â€" United StatesThe Chinese Yuan â€" ChinaThe British Pound â€" the United KingdomWhile most countries in the world use their unique currency, there are some instances where different legislations might use the same currency. A number of European countries, such as France and Germany, use the Euro, for example.Nowadays, there are also currencies, which are not tied to any specific country or monetary union. For example, cryptocurrencies such as bitcoin are an example of these currencies.There are also other currency types, such as branded currencies and local currencies. But currency translation mainly deals with the tradable currencies.What are financial statements?A business, individual or other such entity must keep a formal record of their financial activities. This is often for taxation purposes and these records are called financial statements.The most common financial statements for business include:Income statementsBalance s heetStatements of retained earnings and cash flowCurrency translation might show in all of these statements, although it is most essential for balance sheet reporting.What are exchange rates?Exchange rates are used in order to state the price of a specific currency in another currency. It has two separate components: the domestic currency and the foreign currency.Most exchange rates use the US dollar as the base currency, but the Euro is also often used for this purpose.Exchange rates fluctuate almost daily. It is important to understand this, as currency translation might require you to use a specific exchange rate from the past. You can find out different exchange rates through services such as XE.The definition of currency translationIn short, the definition of currency translation refers to the process of quoting the amount of money in one currency in the denomination of another currency. Companies typically need this process as part of their financial record keeping. Currency t ranslation is often used in balance sheets.Companies, which operate in different countries, tend to have to use different currencies as part of their bookkeeping. For example, a company which is headquartered in the US would mainly use the US dollar in its accounting. But it might also receive part of its revenue from sales in the United Kingdom. These sales would naturally use the British pound.But for accounting, the company has to use only one currency and therefore it needs to translate the British pound into US dollar.Currency translation must be recorded on the company’s balance sheet as an equity account. In some instances, such as in the case of large banks, the translation will be recorded as equity capital. The difference between functional and operation currencyMultinational companies can use different currencies for its operations. These are often referred to as the operational currencies.But for accounting purposes, the company also has to have a functional currency, which is the primary type of money the company uses. Most companies tend to use the currency of the nation they are headquartered as the functional currency. But this is not required and some companies choose to use a different currency â€" usually one that is the most relevant for its operations.WHY IS CURRENCY TRANSLATION NEEDED AND USED?As mentioned above, currency translations help a company create financial statements that feature a single currency. In fact, the governing tax authority often requires companies to only use one denominated currency as part of their recording procedure.While currency translation is typically mandatory process, there are certain benefits to currency translation as well. In the modern world, the multinational company is becoming the norm and even small- and medium-sized businesses tend to have cross-border operations. For these companies, currency translation will be essential.Using a single currency as part of financial statements will make these s tatements easier to read and analyze. It is near impossible to draw rational conclusions from a statement, which features more than one currency.THE THREE STEPS OF CURRENCY TRANSLATIONSo how does currency translation work in reality? In its essence, the process can be defined by three separate steps the company needs to take. These are:Determining the functional currency for the businessRe-measuring the financial statements of the business in the functional currencyRecording the gains and losses on the translation of currenciesTo make sense of each step, lets now look at the process in more detail.Step 1: Determining the functional currencyAs discussed above, companies must pick a functional currency and do all of the financial reporting in this single currency.While the functional currency is most often simply the company where the businesses main headquarters are, there are other ways to decide the functional currency. The other alternative often selects the functional currency ba sed on the currency majority of its operations are conducted.For example, while a company might have its headquarters in Brazil, its main business operations might take place in the US. Instead of using the Brazilian real, the business might choose to make the US dollar its functional currency.The above two ways of picking the functional currency are relatively straightforward. Problems might arise if the company operates in equal measure in separate locations outside of its country of residence. The company will just need to decide the most convenient currency under these circumstances.Furthermore, once a company decides its functional currency it shouldn’t make changes to it, at least not regularly. A change in functional currency should only take place in situations of significant change in economic facts and circumstances.Step 2: Re-measuring the financial statements in the functional currencyOnce the business has denominated its functional currency, it needs to ensure its fin ancial statements only use the selected currency. Instead of recording losses in separate headings for sales in separate currencies, the balance sheet shall feature sales only in the functional currency.Each aspect of the financial statement must be translated into the single currency. This involves calculating the total of the following items:The company’s assets and liabilitiesSpecific items in the income statement:Revenue, expenses, gains and lossesBusiness allocations such as depreciation and amortizationCash flowsFurthermore, it is crucial to keep a close eye on the dates in which any of the above transactions occurred. Currency translation often only occurs at the end of the financial year, but the rates you choose to use are determined by the transaction date in some instances.The following section will deal more on how the actual rates are determined in terms of calculating the currency translation. For now, it is important to note you might need to use the exchange rates from the past as well as present. Therefore, proper bank statements and income records are essential to ensure you use the right rates.Step 3: Recording the gains and losses on the currency translationFinally, currency translation often results in translation adjustments. These adjustments must be recorded on the company’s balance sheet as well. They are mentioned in the equity section of the balance sheet.Furthermore, the translation adjustment also requires the company to record the adjustment in the profit or loss statement of comprehensive income.HOW ARE THE RATES DETERMINED?As you are aware, exchange rates are constantly fluctuating. This fluctuation causes certain difficulties for companies, as they need to account for this in their currency translations.Instead of simply checking the current exchange rate when translating currencies, you might sometimes need to use different rates either for a specific period or even for a specific date.Below is a look at the different rate s companies need to use and the parts of the statement that fall under this specific calculation method:The average rate for the period â€"The average rate for a period refers to a calculated average exchange rate for the specific financial period. This is typically the financial year, as it is the basis for most financial statements. The average rate should be calculated by checking each rate during the period and dividing it by the number of these different rates. The average rate for the period is used for translation currencies for income statement accounts.The ending rate for the period â€" The ending rate for the period is the exchange rate at the end of the financial period. For example, if the financial year ends on December 31, the currency translation would use the exchange rate of this date. Liability and asset accounts use the ending rate for the period for currency translation. Nonetheless, fixed assets are not translated with the ending rate.The original historical rat e at the point of acquiring â€" The original historical rate at the point of acquiring simply uses the exchange rate of the date when the entry was created for the income statements. For example, if the qualifying transaction happened on July 7, even if the financial year ends on December 31, the exchange rate used should be from July 7. Fixed assets are always translated with the historical rate. It must be noted they also won’t be re-translated later on.Finally, you should keep in mind that equity accounts are generally never re-valued.The above rate calculations and methods are largely universal. But different companies might have slight differences as to which transactions should be recorded with which rate. It is a good idea to check with the responsible jurisdiction prior to currency translation to ensure you use the correct rates.AVOIDING THE COMMON MISTAKES IN CURRENCY TRANSLATIONAlthough the guidelines for currency translation have not evolved much in recent years, there are certain mistakes companies continue to make. These mistakes can naturally lead to misstatements in financial reporting and cause damage to the company’s bottom line. Overall, this leads to false statements and thus business results can be different from the real picture.In order to avoid regulatory scrutiny and to ensure your statements are correct, it is a good idea to look at these common mistakes. This way you can learn from them and ensure to avoid falling foul of them with your currency translation.Hiding gains and losses in comprehensive income instead of recognising in net incomeThe first mistake often involves companies misclassifying a foreign currency loss or gain in other comprehensive income instead of net income. This might not sound like a big issue, but it results in incorrect net income and hides the gain or loss in the account, resulting in missed changes in the equity part of the statement.This mistake is most persistent with companies that have an intercompa ny account and this account it recorded on the books of other units with different functional currencies.It is important to keep an eye on your company’s intercompany balance, especially if you have parties which record their specific balance in different currencies.Furthermore, recording the gains or losses in other comprehensive income is not always wrong. In situations where these gains and losses are essentially permanent, the gains and losses will be recorded on other comprehensive income instead of net income.Preparing the consolidated statement of cash flows based on amounts in the consolidated balance sheetWhile the cash flow transactions can be translated by using the average rate for the period, many experts think the statement should use the historical rates for each transaction. The problem arises because accountants often support the indirect method. While this indirect approach can work with smaller companies, it can be dangerous with larger companies with multiple e ntities.The indirect method used the historical average to calculate the cash flow. As mentioned above, you’ll use the average exchange rate for the period for translating the cash flow.But in many instances, this can lead to large-scale errors, as exchange rates can fluctuate quite a bit. Therefore, it is better to avoid using historical averages and instead use the historical rate for the specific transaction across all cash flow calculations.Not recognizing the need to modify accounting for translations in inflationary environmentsCompanies can sometimes end up operating in highly inflationary economies and this adds additional pressure to currency translation. But in many countries, such as the US, the general accounting rules require companies operating in a highly inflationary environment to re-measure as if the functional currency was the reporting currency of the business. This results in translation adjustments and changes slightly how the earnings are reported.A recent e xample of this was the Venezuelan economy, which received a highly inflationary status in 2009. Companies operating in the country would have had to change their reporting method in terms of currency translation, although some initially forgot to do so.HOW TO MITIGATE THE RISKS OF CURRENCY TRANSLATIONIt is possible to mitigate the risk of currency translation through three simple practices. By using the following three methods, you can reduce accounting risks and improve the accuracy of your financial statements.Implement proper accounting policiesFirst, it is essential to create clear accounting policies. This might sound obvious, but for companies operating in several different jurisdictions, this advice is essential. You need to have clear guidelines across the different entities to ensure the accounting practices used are universal across your company.It is especially important to create a proper set of currency translation guidelines. These can guarantee companies to prepare an d adjust to this at the initial phase to make currency translation later much more straightforward.Scrutinize your accountingYou should also check your current accounting procedures and make sure each unit complies with the main accounting procedure of your reporting country. You need to be able to check each individual accounting procedure and backtrack on the information provided with ease.Have appropriate internal controls to detect mistakesAccounting mistakes can happen, but the crucial thing is to limit them as much as possible. You want to create an internal system that acknowledges mistakes, instead of having a tax authority accuse you of reporting errors.The key is to ensure the internal controls focus tightly on the accounts in terms of net income and the currency translation account. This can guarantee your currency translation is a successful one.

Financial Statements How Does Currency Translation Work

Financial Statements How Does Currency Translation Work If your business entity operates in several countries, chances are you also use different currencies as part of your business operations. But when it comes to reporting your company’s finances through financial statement, you aren’t allowed to use more than one currency.In order to have your financial statements recorded in a single currency, you’ll need to perform currency translation. What does currency translation entail and what are the different methods used in the process? This guide will answer both of those questions and give you tips to avoid common mistakes associated with currency translation in your accounting procedure. © Shutterstock.com | file404In particular in this article, you will learn 1) what is currency translation, 2) why currency translation is needed and used, 3) the three steps of currency translation, 4) how the rates are determined, 5) avoiding the common mistakes, and 6) how to mitigate the risks of currency translation.WHAT IS CURRENCY TRANSLATION?Before we look at the definition of currency translation, it is a good idea to define some of the key terms used in the process. Below is a break down of the three key terms: currency, financial statements and exchange rates.What are currencies?Currency is a generally accepted form of money, which includes both coins as well as paper notes. It is issued by a specific government and circulated within the government’s jurisdiction.Currency is used as the medium of exchange when people deal with goods and services. It is essentially the basis for trade.Most countries of the world have their own currency. Some of the most known official cur rencies and their countries include:The US Dollar â€" United StatesThe Chinese Yuan â€" ChinaThe British Pound â€" the United KingdomWhile most countries in the world use their unique currency, there are some instances where different legislations might use the same currency. A number of European countries, such as France and Germany, use the Euro, for example.Nowadays, there are also currencies, which are not tied to any specific country or monetary union. For example, cryptocurrencies such as bitcoin are an example of these currencies.There are also other currency types, such as branded currencies and local currencies. But currency translation mainly deals with the tradable currencies.What are financial statements?A business, individual or other such entity must keep a formal record of their financial activities. This is often for taxation purposes and these records are called financial statements.The most common financial statements for business include:Income statementsBalance s heetStatements of retained earnings and cash flowCurrency translation might show in all of these statements, although it is most essential for balance sheet reporting.What are exchange rates?Exchange rates are used in order to state the price of a specific currency in another currency. It has two separate components: the domestic currency and the foreign currency.Most exchange rates use the US dollar as the base currency, but the Euro is also often used for this purpose.Exchange rates fluctuate almost daily. It is important to understand this, as currency translation might require you to use a specific exchange rate from the past. You can find out different exchange rates through services such as XE.The definition of currency translationIn short, the definition of currency translation refers to the process of quoting the amount of money in one currency in the denomination of another currency. Companies typically need this process as part of their financial record keeping. Currency t ranslation is often used in balance sheets.Companies, which operate in different countries, tend to have to use different currencies as part of their bookkeeping. For example, a company which is headquartered in the US would mainly use the US dollar in its accounting. But it might also receive part of its revenue from sales in the United Kingdom. These sales would naturally use the British pound.But for accounting, the company has to use only one currency and therefore it needs to translate the British pound into US dollar.Currency translation must be recorded on the company’s balance sheet as an equity account. In some instances, such as in the case of large banks, the translation will be recorded as equity capital. The difference between functional and operation currencyMultinational companies can use different currencies for its operations. These are often referred to as the operational currencies.But for accounting purposes, the company also has to have a functional currency, which is the primary type of money the company uses. Most companies tend to use the currency of the nation they are headquartered as the functional currency. But this is not required and some companies choose to use a different currency â€" usually one that is the most relevant for its operations.WHY IS CURRENCY TRANSLATION NEEDED AND USED?As mentioned above, currency translations help a company create financial statements that feature a single currency. In fact, the governing tax authority often requires companies to only use one denominated currency as part of their recording procedure.While currency translation is typically mandatory process, there are certain benefits to currency translation as well. In the modern world, the multinational company is becoming the norm and even small- and medium-sized businesses tend to have cross-border operations. For these companies, currency translation will be essential.Using a single currency as part of financial statements will make these s tatements easier to read and analyze. It is near impossible to draw rational conclusions from a statement, which features more than one currency.THE THREE STEPS OF CURRENCY TRANSLATIONSo how does currency translation work in reality? In its essence, the process can be defined by three separate steps the company needs to take. These are:Determining the functional currency for the businessRe-measuring the financial statements of the business in the functional currencyRecording the gains and losses on the translation of currenciesTo make sense of each step, lets now look at the process in more detail.Step 1: Determining the functional currencyAs discussed above, companies must pick a functional currency and do all of the financial reporting in this single currency.While the functional currency is most often simply the company where the businesses main headquarters are, there are other ways to decide the functional currency. The other alternative often selects the functional currency ba sed on the currency majority of its operations are conducted.For example, while a company might have its headquarters in Brazil, its main business operations might take place in the US. Instead of using the Brazilian real, the business might choose to make the US dollar its functional currency.The above two ways of picking the functional currency are relatively straightforward. Problems might arise if the company operates in equal measure in separate locations outside of its country of residence. The company will just need to decide the most convenient currency under these circumstances.Furthermore, once a company decides its functional currency it shouldn’t make changes to it, at least not regularly. A change in functional currency should only take place in situations of significant change in economic facts and circumstances.Step 2: Re-measuring the financial statements in the functional currencyOnce the business has denominated its functional currency, it needs to ensure its fin ancial statements only use the selected currency. Instead of recording losses in separate headings for sales in separate currencies, the balance sheet shall feature sales only in the functional currency.Each aspect of the financial statement must be translated into the single currency. This involves calculating the total of the following items:The company’s assets and liabilitiesSpecific items in the income statement:Revenue, expenses, gains and lossesBusiness allocations such as depreciation and amortizationCash flowsFurthermore, it is crucial to keep a close eye on the dates in which any of the above transactions occurred. Currency translation often only occurs at the end of the financial year, but the rates you choose to use are determined by the transaction date in some instances.The following section will deal more on how the actual rates are determined in terms of calculating the currency translation. For now, it is important to note you might need to use the exchange rates from the past as well as present. Therefore, proper bank statements and income records are essential to ensure you use the right rates.Step 3: Recording the gains and losses on the currency translationFinally, currency translation often results in translation adjustments. These adjustments must be recorded on the company’s balance sheet as well. They are mentioned in the equity section of the balance sheet.Furthermore, the translation adjustment also requires the company to record the adjustment in the profit or loss statement of comprehensive income.HOW ARE THE RATES DETERMINED?As you are aware, exchange rates are constantly fluctuating. This fluctuation causes certain difficulties for companies, as they need to account for this in their currency translations.Instead of simply checking the current exchange rate when translating currencies, you might sometimes need to use different rates either for a specific period or even for a specific date.Below is a look at the different rate s companies need to use and the parts of the statement that fall under this specific calculation method:The average rate for the period â€"The average rate for a period refers to a calculated average exchange rate for the specific financial period. This is typically the financial year, as it is the basis for most financial statements. The average rate should be calculated by checking each rate during the period and dividing it by the number of these different rates. The average rate for the period is used for translation currencies for income statement accounts.The ending rate for the period â€" The ending rate for the period is the exchange rate at the end of the financial period. For example, if the financial year ends on December 31, the currency translation would use the exchange rate of this date. Liability and asset accounts use the ending rate for the period for currency translation. Nonetheless, fixed assets are not translated with the ending rate.The original historical rat e at the point of acquiring â€" The original historical rate at the point of acquiring simply uses the exchange rate of the date when the entry was created for the income statements. For example, if the qualifying transaction happened on July 7, even if the financial year ends on December 31, the exchange rate used should be from July 7. Fixed assets are always translated with the historical rate. It must be noted they also won’t be re-translated later on.Finally, you should keep in mind that equity accounts are generally never re-valued.The above rate calculations and methods are largely universal. But different companies might have slight differences as to which transactions should be recorded with which rate. It is a good idea to check with the responsible jurisdiction prior to currency translation to ensure you use the correct rates.AVOIDING THE COMMON MISTAKES IN CURRENCY TRANSLATIONAlthough the guidelines for currency translation have not evolved much in recent years, there are certain mistakes companies continue to make. These mistakes can naturally lead to misstatements in financial reporting and cause damage to the company’s bottom line. Overall, this leads to false statements and thus business results can be different from the real picture.In order to avoid regulatory scrutiny and to ensure your statements are correct, it is a good idea to look at these common mistakes. This way you can learn from them and ensure to avoid falling foul of them with your currency translation.Hiding gains and losses in comprehensive income instead of recognising in net incomeThe first mistake often involves companies misclassifying a foreign currency loss or gain in other comprehensive income instead of net income. This might not sound like a big issue, but it results in incorrect net income and hides the gain or loss in the account, resulting in missed changes in the equity part of the statement.This mistake is most persistent with companies that have an intercompa ny account and this account it recorded on the books of other units with different functional currencies.It is important to keep an eye on your company’s intercompany balance, especially if you have parties which record their specific balance in different currencies.Furthermore, recording the gains or losses in other comprehensive income is not always wrong. In situations where these gains and losses are essentially permanent, the gains and losses will be recorded on other comprehensive income instead of net income.Preparing the consolidated statement of cash flows based on amounts in the consolidated balance sheetWhile the cash flow transactions can be translated by using the average rate for the period, many experts think the statement should use the historical rates for each transaction. The problem arises because accountants often support the indirect method. While this indirect approach can work with smaller companies, it can be dangerous with larger companies with multiple e ntities.The indirect method used the historical average to calculate the cash flow. As mentioned above, you’ll use the average exchange rate for the period for translating the cash flow.But in many instances, this can lead to large-scale errors, as exchange rates can fluctuate quite a bit. Therefore, it is better to avoid using historical averages and instead use the historical rate for the specific transaction across all cash flow calculations.Not recognizing the need to modify accounting for translations in inflationary environmentsCompanies can sometimes end up operating in highly inflationary economies and this adds additional pressure to currency translation. But in many countries, such as the US, the general accounting rules require companies operating in a highly inflationary environment to re-measure as if the functional currency was the reporting currency of the business. This results in translation adjustments and changes slightly how the earnings are reported.A recent e xample of this was the Venezuelan economy, which received a highly inflationary status in 2009. Companies operating in the country would have had to change their reporting method in terms of currency translation, although some initially forgot to do so.HOW TO MITIGATE THE RISKS OF CURRENCY TRANSLATIONIt is possible to mitigate the risk of currency translation through three simple practices. By using the following three methods, you can reduce accounting risks and improve the accuracy of your financial statements.Implement proper accounting policiesFirst, it is essential to create clear accounting policies. This might sound obvious, but for companies operating in several different jurisdictions, this advice is essential. You need to have clear guidelines across the different entities to ensure the accounting practices used are universal across your company.It is especially important to create a proper set of currency translation guidelines. These can guarantee companies to prepare an d adjust to this at the initial phase to make currency translation later much more straightforward.Scrutinize your accountingYou should also check your current accounting procedures and make sure each unit complies with the main accounting procedure of your reporting country. You need to be able to check each individual accounting procedure and backtrack on the information provided with ease.Have appropriate internal controls to detect mistakesAccounting mistakes can happen, but the crucial thing is to limit them as much as possible. You want to create an internal system that acknowledges mistakes, instead of having a tax authority accuse you of reporting errors.The key is to ensure the internal controls focus tightly on the accounts in terms of net income and the currency translation account. This can guarantee your currency translation is a successful one.

Fast Fashion An Unethical Way - 2687 Words

Edward Achziger Ethics Pr. Campisi 12/11/14 Fast Fashion: An Unethical Way to Cloth the Greedy While Killing the Needy It is impossible to beat a cheap price. In today’s world, finding a sought after item at a dirt cheap price is one the main motivation American’s get in the car and battle the craziness in the mall. And as the basic American human beings that we are, it is never possible for us to be complacent with the amount of stuff we currently have. Eventually, we will come across a friend that has the next must have item that will cause us to run to our local mall and purchase a similar item at the lowest price possible. With all that said, it is no wonder why the industry of fast fashion has taken off over the past decade. Felipe Caro and Victor Martà ­nez-de-Albà ©niz, researchers for UCLA’s school of supply chain coordination, define fast fashion as â€Å"a business model that combines four elements: (i) fashionable clothes mostly for consumers under 40; (ii) affordable prices in the mid- to-low range; (iii) quick response; and (iv) frequent assortment changes†. Retailers like HM, Forever 21, Target, and Wal-Mart have been able to take this business model and make a fortune. But while all these quick trends and cheap prices are great for the consumer, its cost on the foreign worker and the environment does not go uncovered. In the book Overdressed by Elizabeth Cline, she presents many arguments supporting the claim that fast fashion is unethical based onShow MoreRelatedSpeech On Fast Fashion964 Words   |  4 Pagesdeeper in the world of fast fashion I found out of the vicious cycles that our clothing is manufactured in. B. Relevance: The brands I researched are some many of you have probably heard of. C. Credibility statement: A university of Georgia professor gave an hour-long ted talk talking about her experiences of working and traveling to different countries seeing the fast fashion industry at first hands. She now teaches about fashion sustainability and the cycles of the fast fashion market. D. CentralRead MoreSustainable Style : How Sustainable Practices Can Benefit Everyone1611 Words   |  7 PagesSustainable Style: How Sustainable Practices Can Benefit Everyone Fashion tends to work in cycles, much like the technology industry: every designated cycle, a new innovation on a previous product or new reinvention is revealed to overshadow past generations. In fashion, rather than being met with a new smartphone every year, one is met with new collections twice a year: one for the fall and winter, and another for the spring and summer (i.e.- FW and SS). However, this cyclical behavior tends toRead MoreFashion Counterfeiting1462 Words   |  6 Pagesbut rather how much they will acquire from it. This leads to consumer purchasing fashion counterfeit products which is becoming a rising issue in the United States and Europe. Counterfeiting is an illegal act of producing and selling a replica of an authentic product without the permission of the designer. This market expands from movies, games, money, even medicine to clothes and accessories. Counterfeiting is a fast-growing industry that is a worldwide problem which consumers play a huge role inRea d MoreWhy You Should Know Your Clothes Come From Essay1303 Words   |  6 Pagesa niche sustainable fashion and lifestyle online magazine called Who What Where. It sets out to do just what the title promised by trying to educate readers about the importance of knowing the process by which their clothing is made and distributed. In order to achieve this task the author, Jessica Schiffer, interviewed Maxine Bà ©dat, the co-founder of Zady, an increasingly popular sustainable fashion and lifestyle brand. Together they assessed the current state of fast fashion, the large and franticallyRead MoreThe Rio Grande Valley (Rgv) Is Growing Economically.There998 Words   |  4 PagesValley. As a textiles and apparel major, I’ve learned that the fashion industry is increasing the knowledge about ethically producing clothing that is also eco-friendly. The fashion industry is increasing the awareness about the negative impact fast fashion (ex. Forever 21, American Apparel, etc) has. The fashion industry in the second most polluting industry and fast fashion companies are known to practice unfair and unethical labor policies. Such awareness has been made possible by the technologyRead MoreWomen s Physical And Outer Appearance1214 Words   |  5 Pagesthe media. It is seen in Hollywood movies, beauty magazines and even marketing advertisements. Since a young age, our generation has been influenced by what the perfect body should look like. It is implanted in our minds that we should look a certain way without even realizing it. Therefore, the media has a direct effect on how the general public views what is and what isn’t acceptable in regard to the standard of perfect physical attractiveness. By establishing unattainable standards of beauty andRead MoreEthical Guidelines For The Marketing Industry1562 Words   |  7 PagesWhen it comes down to ethical guidelines it is pertinent that every industry have them. However, when consumers think of the marketing industry, they tend to think those are the most unethical people participating in those jobs. Marketing too has some ethical guidelines, but to what extent are they being followed to have consumers thinking otherwise? Marketing is supposed to make honest claims and satisfy the needs and wants of the customers. It is supposed to develop brand loyalty, to in turn increaseRead MoreThe Impact Of Fast Fashion On Business Environment2039 Words   |  9 Pagescorporations acting in a global surrounding (Douglas Wind, 1987). In the fashion industry, the business environment is especially competitive and firms have to adjust their business practices rapidly such as products and launching ti me of each collection on the basis of the demand of current market (Lowson, King Hunter, 1999). Companies in the fashion industry like ZARA, Topshop and HM have emerged a new trend — â€Å"fast fashion† that combines two main characteristics: short lead times and trendy designRead MoreThe Downfalls of Topshop1059 Words   |  4 PagesWeaknesses Production Facilities Topshop is among many companies around the globe that uses cheap labour, or as many people call it, â€Å"slave labour†, to produce the items being sold in their stores. The use of unethical labour can cast an unfavorable company image, which in turn may cause customers to shop elsewhere. Product-Line/Store Management Topshop is a large company, with numerous product lines and extensive staffing requirements. This contributes to high management costs. NarrowRead MoreAn Ethical Code Of Conduct For Marketing1130 Words   |  5 Pagesadvertised, especially in the case of children and of health products. The advertisements happen to ruin family budgets which eventually may cause families to break as well. An act or a campaign promoting such behaviors is most definitely unethical and should be dealt in a way every other ethically challenged matter is taken care of. To resolve the dilemma of persuasive marketing, a simple three step procedure shall be implemented: defining an ethical code of conduct for marketing, setting up a review committee

A Substance Abuse Recovery Home - 1498 Words

The need for a substance abuse recovery home in Starke County, Indiana is a need that is unmistakable in the county based on the hefty number of individuals that suffer from substance abuse and dependency in the county which is clearly displayed by the recent number of crimes that are related to or involve illicit and prescription drugs. In attempt to meet this need and create an opportunity for individuals suffering from substance abuse and dependency to receive local substance abuse treatment in a recovery home the proposal will be presented to several stakeholders within the Starke County community. The term stakeholder â€Å"refers to those people who are affected, or could be affected, by the service† (Canadian Career Development Foundation, n.d.) that is being proposed. The proposal for the creation of a substance abuse recovery home will be presented to five key stakeholders including Ms. Becky Anspach the director of Community Services of Starke County, Starke County C ommunity Corrections director of operations Mr. Robert Hinojosa, Ms. Dee Lynch the director of the Indiana Department of Child Services of Starke County, Porter Starke Services facilitator of intensive outpatient program treatment (IOP), and Ms. Rhonda Adcock the director of Starke County CASA. The director of Community Services of Starke County, Ms. Becky Anspach, completes family assessments then assists low-income families with meeting their basic needs on a daily basis. Community Services of StarkeShow MoreRelatedThe Goals And Objectives Of The Hope House1134 Words   |  5 Pagesthat are needed to accomplish each objective that is defined (Kirst-Ashman Hall, Jr., 2015). The Hope House will be the first and only substance abuse recovery home in the Starke County, Indiana area that will assist women in obtaining and maintain sobriety. The primary goal of The Hope House is to provide women that are or have suffered from substance abuse and dependency a safe, supportive, and structured environment to obtain and maintain sobriety in the Starke County community. The Hope HouseRead MoreSubstance Abuse Problems in Relationships Essay561 Words   |  3 PagesWhen someone realizes that they have a substance abuse problem, they know that their personal relationships have to change. If this relationship is with a life partner or spouse, however, the issue can become complicated. But you should know that this is not an uncommon situation. While there are no formal statistics for co-occurring substance abuse in a family, most substance abuse counselors will tell you it is actually very typical. Why is this true? Sometimes the couple came together becauseRe ad MoreDevelopment Of The Recovery Model1518 Words   |  7 PagesIntroduction The recovery model is very import to the field of marriage and family therapy in many different ways. Recovery allows for the client to change, and see unlimited possibility. This model is seen through the lens of values, seeking to help the client to live a rich and meaningful life. Recovery is strength based, and allows for the client to build from their personal skills set, and doesn’t blame a single person for the distress of the family. This allows for the client to gain a senseRead MoreThe Mission Of The Hope House1481 Words   |  6 Pages The mission of The Hope House is to provide individuals that suffer from substance abuse and dependency a safe local recovery home that provides support and guidance in obtaining and maintaining sobriety, which will require the program to access and implement several assets. â€Å"According to the field of community psychology, many of the most complex and intransigent social and community problems can be transformed by the recognition, appreciation, and utilization of the assets and inner resourcesRead MoreThe Effects Of Substance Abuse On Children1443 Words   |  6 Pagessubstance it can lead to impairment or distress in many different ways such as, â€Å"recurrent substance use resulting in a failure to fulfill major role obligations at work, school, or home, recurrent substance use in situations in which it is physically hazardous, recurrent substance-related legal problems, continued substance use despite having persistent or recurrent social or interpersonal problems cause d or exacerbated by the effects of the substance† (Susic, 2007). According to the Foster CareRead MoreSubstance Abuse Treatment Center Of The World798 Words   |  4 PagesIntroduction to the foundation of the issue. Here in Florida there many substance abuse treatment facilities, in fact there are so many that Southern Florida is not considered the substance abuse treatment center of the world. This is the description of Southern Florida that was talked about in classrooms, at an undergraduate program at Indian River State College (IRSC) in Fort Pierce Florida. Many time a professor would talk about Southern Florida being the treatment capital of the world, and thereRead MoreBecoming A Licensed Clinical Social Worker And Provide Therapeutic Services At The Emerging Market Of Farr Certified Recovery Residences1381 Words   |  6 PagesI hope to work directly with individuals seeking substance abuse treatment. Although it has recently been announced that addiction is a brain disorder rather than a behavioral issue, there is still argument that drug use is a choice and not a disease. I want to contribute to the substance abuse population because I feel the stigma that surrounds recovering addicts does not accurately portray the strength and positivity that comes from the recovery process. I want to be a part of empowering theseRead MoreSubstance Abuse Is A Brain Disease766 Words   |  4 PagesFindings Substance Abuse is a brain disease While the choice to use alcohol and drugs is initially voluntary, alcohol and/or drug addiction arises because the normal functioning of the brain is impaired so that alcoholism and drug addiction become a â€Å"chronic relapsing disease of the brain† (National Institute of Drug Abuse, Drugs, Brains and Behavior. The Science of Addiction. 2014, 5). Drugs impact the pathways of the brain by flooding the circuit with dopamine, which disturbs and distorts normalRead MoreOur Traditional Criminal Justice System957 Words   |  4 Pagesthese issues would be to have more certified substance abuse counselors. Other key factors would be to work on strategies, have key components in place, key partnerships to make the goals attainable, and above all to help the offender/clients (http://www.ncpc.org/topics/drug-abuse/strategies/strategy-substance-abuse-counseling-in-correctional-facilities). I feel that there should be more private and state run facilities that have certified substance abuse counselors. I have three younger sistersRead MoreRehabilitation Is The Most Intensive Treatment Option For Recovery953 Words   |  4 PagesRehabilitation is the most intensive treatment option for recovery. Other names are Residential Treatment Program, inpatient substance abuse treatment, drug rehabilitation, or rehab. Rehabilitation provides three unique characteristics to enhance the opportunity for a successful recovery. Treatment is away from: 1. Home. 2. Access to drugs. 3. Contact with active substance abusers. The advantages of receiving intensive treatment away from home and without access to drugs and active drug abusers are

Gun Violence in America Research Paper Free Essays

Since 1982, at least sixty-two mass shootings have occurred, thirty-two of them since 2006. (Aronsen). Jared Loughner was sentenced to life in prison after shooting nineteen people in January of 2011. We will write a custom essay sample on Gun Violence in America Research Paper or any similar topic only for you Order Now Last July, fifty-eight people were shot and twelve killed while watching the new Batman movie in a theater in Colorado. In December, twenty-six people were murdered, including twenty first-graders, in a Connecticut elementary school (Follman). The issue of gun violence only becomes relevant after a horrific event such as these, then fades from public concern after about two weeks. The number of injuries and murders using guns in the United States is a large number, which can hopefully be lowered by implementing statewide, or even nationwide gun buyback programs, stricter carrying permit laws, and making it harder for the mentally unstable and convicted felons to legally obtain guns. HISTORY/BACKGROUND The argument for or against gun control has been an ongoing battle since the beginning of the nation. The Second Amendment gives people the â€Å"right to bear arms. † When arguing for this Amendment, the factor that is not considered is that it was made so one could protect their person in case of an emergency. There was no police force when this law was created; therefore it was almost every man for himself, the people protected themselves. Now the police force is incredibly large, and is always patrolling the streets to make sure all is well and everyone is safe. Carrying a small handgun in one’s car is reasonable, but is keeping ten different models of machine guns and semi-automatic rifles at home just for fun? PRODUCTION/OWNERSHIP Every year, eight million small firearms and ten to fifteen billion rounds of ammunition are manufactured worldwide. Over eight hundred and seventy-five million firearms are in possession in the world, and 75% belong to the people (Alpers). In the United States, approximately 6. 1 million guns are produced each year and there is a ratio of 89 guns to every 100 people (â€Å"Firearms Death Rate per 100,000 by State, statehealthfacts. org†). According to a Gallup poll, the majority of gun owners possess guns for three main purposes: 67% for self-defense, 66% for target shooting, and 62% for hunting (Velasco). If one decides to own guns, they should be kept locked up safely in a private place, so there is not easy access for children in the household or someone incapable of properly operating a firearm. ARMED FELONS/MENTALLY UNSTABLE In 2005, Erik Zettergren shot Jason Robinson in the head for attempting to have sex with his wife. He then forced Robinson’s fiancà ©e to assist him in dragging his dead body to the river for disposal. Zettergren was a man with a history of mental health problems, and was a convicted felon who had his rights to possess a gun barred. Two months before the murder, a judge reinstated his rights without even holding a hearing (Luo). Felons commit 90% of all gun crimes, yet most of their rights are given back with little or no review. Juveniles and the mentally unbalanced primarily carry out the remainder of the crimes (Kates Jr. ). A German Neurologist claims he has found the â€Å"dark patch† of killer’s brains that is associated with wicked behavior. He classifies these people into three groups. The first he classifies as ‘psychologically healthy,’ people who grow up in an environment where it is ‘OK to beat, steal and murder’. The second type is the mentally disturbed criminal who looks at his world as threatening. The third group is pure psychopaths, a group in which tyrants such as Hitler and Stalin belong. (Hall) WILL IT SOLVE ANYTHING? Over thirty-eight thousand people use guns to commit suicide each year. If the guns are taken away from them, they will just find another way to kill themselves. Suicide is a problem that can’t really be solved. On the other hand, guns are also used to kill over eleven thousand people a year (Becker). Again, if the guns are taken away, murderers will find other methods to kill, but if they aren’t using guns, there hopefully won’t be as many deaths. If a man goes into a building with a gun, he can kill an almost unlimited number of people, but if he only has a knife, for example, it’s going to take a lot longer to kill that many people by the time help arrives. ANTI-GUN ORGANIZATIONS One of the most famous anti-gun organizations is the Brady Campaign, established in 1974, which has played a major role in the control of guns. Their main goal is to make it more difficult for convicted felons, the mentally unstable, and other such people to obtain guns (â€Å"About Us: History of the Brady Campaign†). They presented the Brady Act, passed in 1993, which would â€Å"impose a waiting period of up to five days for the purchase of a handgun, and subjects purchasers to a background check† (â€Å"Brady Act†). Since the imposition of this act, over one hundred million background checks have been conducted, and more than seven hundred thousand attempted purchases have been denied (â€Å"National Instant Criminal Background Check System†). Another major group is the Coalition to Stop Gun Violence, or the CSGV. Their mission statement is â€Å"The Coalition to Stop Gun Violence seeks to secure freedom from gun violence through research, strategic engagement and effective policy advocacy. † They are composed of forty-seven national organizations, including religious and social justice organizations, child welfare advocates, and public health professionals. This diversity allows them to reach a wide variety of grassroots in the world (â€Å"About Us – Coalition to Stop Gun Violence†). CONCLUSION If people like teachers had carrying permits, they could keep a gun locked up in the classroom, so if a person with a gun comes bursting through the door and threatens to shoot people, or does shoot someone, the teacher can run to grab the gun, and protect the lives of all the children and him/herself. Through further investigation, it has been found that the gun murder rate can be lowered through proper enforcement of carrying permit laws, better help for the mentally unbalanced, and increased gun buybacks. How to cite Gun Violence in America Research Paper, Essays

Lessons and Policy Implications †Free Samples to Students

Question: Discuss about the Lessons and Policy Implications Management. Answer: Introduction: Economy of Australia owes its importance in the very fact that it is a small economy with huge untapped potential to grow. The Australian economy consists of worlds one of the biggest mixed market economy possessing the rank of second wealthiest nation in terms of wealth held per adult. The country is mostly service sector driven that contributes 61% to GDP. These facts reveal how important these national economies are to the world economy. In the modern world, economic policies play pivotal role in the functioning of the economy as a whole taking care of the all the national economic challenges. Securing equilibrium and driving the equilibrium towards stability are something greatly depends on what and how the macroeconomic policies are undertaken. One of the important instruments of macroeconomic policies is the fiscal policy that mostly refers to the policies devised and executed by the government through the channels of tax and various form of and expenditure modulated by the government (Teles and Mussolini 2014). Fiscal policies are undertaken in order to stimulate a drooping economy or control a inflationary pressure of a booming economy. Primary focus is on boosting the consumption Management backed by increased income. Increased income can be obtained when tax is less so that disposable income is high which further allows more consumption demand to be made. Moreover, government increases autonomous expenditure i n order to stimulate the economic activity through increased employment and income. Contrastingly government can also resort to policies that deal with cutting back expenditures and leading to contraction in economic spending by consumers or producers. This paper aims to discuss the fiscal policies Australia adopted for the financial years 2014-15, 2015-16 and 2016-17 with subsequent focus on the economic overview of the country as well as the specific concerns regarding fiscal strategies.. As per the nominal gross domestic production, the country ranks 14th globally though in terms of purchasing power parity, it ranks 20th worldwide. According to IMF estimation, the country recorded its GDP at $1.258 trillion nominally. The growth rate of GDP is 1.8% annually. GDP per capita of the country is pretty high $51,850 which captures the higher per capita wealth. Australia ranks 2nd in the HDI positioned just after USA. The wealth growth rate of the country has been 4.4% annually owing to the constancy of exchange rate system. The economic activity is greatly contributed by the service sector, which comprises of largest workforce contributing to 61.1% of the GDP (Bova, Carcenac and Guerguil 2014). The next biggest component is construction and mining that contributes up to 8.1% and 6.9% respectively of the GDP. The manufacturing sector of the country produces 6% of the total national output. Agricultural production of the nation is accounted in nominal GDP only by 2.2%. the price level of coutry is moderate which is captured by the lower inflation rate recorded to be 1.9% as per 2017 data (Storm and Naastepad 2012). The country facing higher export demands, focuses more on production of goods being exported compared to the manufacturing production. This has increased the terms of trade of the country since 2000. The country is diagnosed with deeper current account deficit operating for almost 60 years till now. In 2016. the current account deficit has been recorded at AUD$ 44.5 billion almost accounting fo r 2.6% Of GDP (Cspedes and Velasco 2014). The inflation has always been controlled and well managed to prevail between 2 to 3%. Post great financial crisis and end of boom in mining sector, the cash rate has been fallingat steady rate from almost 4.75% in 2011 to 1.5% in 2016. Service sector include education, tourism, consultancies and financial services which additively contributes up to 69% of total GDP. Natural resource along with agricultural production holds 2-5% of the total GDP. They consist the maximum of the export basket mostly forwarding the good into China, Japan, South Korea, US and India. The country has been revolving around 5-6% recently after facing rise in post financial crisis reaching a peak of 6.25% (Jord and Taylor 2016). Keeping parity with the employment the wages in the country has not risen rather has been falling over time. Australia enjoys comparatively lower tax burden, public spending and public in the recent times among other OECD countries. The global financial crisis ruptured economic stability in Australia, which came back to normalcy only when the Australian government provided fiscal support to avoid recessionary pressure on economic output (Katsimi and Sarantides 2012). This has led to increasing fiscal deficit over time, which has been an alarming issue in the economy of Australia. Among the top economic issues prevailing in the Australian economy, major concern is attracted towards higher unemployment rate, higher public debts stemming from increasing fiscal deficit and housing affordability by chunk of national population. To address these issues, importance of proper fiscal policies targeted to bring stability is undeniable. Fiscal Policy Strategy: 2013-2014 The Government has inherited a budget in significant need of repair. Undertaking systemic fiscal repair to return the Budget to surplus and to reduce debt is a key election commitment of the Government. The Australian budget of 2013-14 is focused to conduct repairing the economy in order to push it to the budget surplus level. Reduction of debt is key target set behind the systematic fiscal policies (DeLong and Summers 2012). The government clearly promises the deliverance of the commitments made in form of fiscal policies. The government has aimed to restore finances of the public sector through letting the fiscal budget attain its surplus level with sustenance. It has been targeted to prevail around 1% of GDP in 6-7 years from now. To make assessment of the role and scope of government and to ensure proper usage of tax revenues, National Commission of Audit has been established by the government. The Commission brings forth he recommendations that provides the building block of the 2014-15 budget mainly aiming for the reduction in the expenditures made by the government. The nation has been able to accelerate its economic growth and productivity rate so that it can deliver the growth in standard o living with sustenance over decades (Jord and Taylor 2016). As per the government plan, the strong growth of the economy can be ascertained by making investments to enhance the quality of infrastructure while reducing red tape and promoting integrated government system that would encourage the growth. As per the budget o 2014-15, the medium term fiscal strategy o the government is to derive surplus in the budget over the period of economic cycle. The fiscal strategies outline the commitment of the government into the budget setting policies of mid term while allowing for flexibilities regarding the economic condition changes. The three major policy elements underpins the fiscal policy of that year. Redirection of governments spending into quality investment. The motive behind such is to accelerate productivity and participation o workforce. Maintenance of strong disciplines in the fiscal policies in order to deduct the share o the government involving in the economic operations over the period (Fontana and Setterfield 2016). The major concern behind this policy is to free the resources up from the public spending and redirect them to private investment so that they can create new jobs, opportunity and income o the nation as a whole that further consolidates the economic growth. Th is further captures the reduction in the payments to GDP ratio, payment o debt through bringing stabilization and then making the government securities or commonwealth purpose fall based on issues in time. The next policy is to consolidate and make the balance sheet maintained by the government much stronger through improvement of net financial worth. Budget repairment strategy is devised to bring budget surplus in the economy that also by minimum 1% o GDP by 2023-24 keeping consistency with medium term fiscal strategy (DeLong and Summers 2012). This strategy demarks out the expenditures made newly will be offsetting the reduction of the public spending encountered. The changes in the economy will shits the receipts as well as payment that would be treated as benchmark for improvement in the national output through positive impacts. Clear declaration about setting path that leads the economy out of the deficit and push toward the surplus (Fazzari, Morley and Panovska 2015). The budg et repair strategy will prevail until strong surplus is achieved and unemployment rate become much lower and economic growth reaches its expected level. The outlook analysis o the policy depicts the comprehensive path that government has set out to achieve the fiscal objectives targeted in medium term. Compared to the unsustainable situation prevailing in former government reign, the budget position has improved. Even though weaker expectation have been made due to lower GDP growth over the past years, the average annual pace of the financial year 2014-15 has been remarkable with forward estimation o the MYEFO remaining at 0.06% o GDP in this year budget. Keeping parity with fiscal strategy, there has been all in the payment to GDP ratio from 25.9 % o of GDP to 25.2% from 2014-15 to 2017-18 (DeLong and Summers 2012). The projection, which is well below the average of long term at 24.9% o GDP. The fall in the ratio symbolizes all in the public debt share o the GDP and continuous effort taken in reducing this actually sets out the trajectory to propel the economy toward surplus o budget which is highly rated target o the nation. Fall i n the ratio also suggests lower tax rates as imposed by the government and greater respond to change in economic situation. The fiscal policy of the government provides necessary flexible position for the budget and let it vary according the economic situation. This makes provision o the automatic stabilizer to operate and contribute to the aggregate demand stability. Fiscal policy being responsible one looks beyond the period of forward estimation in order to promote the long run sustainability of fiscal policies. The MYEFO of 2013-14 depicted the importance of action in order to create net return to surplus making the debts reach $667 billion. The govt. spending was placed at more affordable trajectory while allowing for future tax relief after the tax to GDP ratio reaches 23.9% by the year 2020-21. The underlying cash balance is projected to reach surplus in 2019-20. Fiscal Policy Strategy: 2015-2016 Fiscal policy of Australia is ruled by broad target of achieving balanced budget or budget surplus in the federal budget. State governments have been able to manage only small balance as a result, they dont impact the fiscal stance substantially. The recent target of the government is adoption of operational goal that would help the budget surplus reach 1% of GDP which is efficient enough to bring down the debt-GDP ratio to a minimum level (Mankiw 2014). The prediction suggests that 1% of the budget surplus in the future years would cause the debt ratio to reach 25% of GDP by 20215-26 and further reach to zero by 2040. The balanced budget of Australia has implication of longstanding preference regarding achieving low debt burdens. The tax reform of recent time focuses more on the reduced corporate tax combating the base erosion and shift of profit under corporate taxation (Fazzari, Morley and Panovska 2015). The GST has been made applicable to online digital product purchase and low-value imported goods by making legislation by the government. Economic and efficient public spending creates a strong basis for public finance increasing the effectiveness of transfer payment and welfare. Government of Australia spends more to incur additional investment for public projects that have substantial long term returns conducting cost benefit analysis prior, The fiscal position guides the nation to maintain and improve trajectory of forward estimation keeping consistency with the commitment of the government to return to the balanced budget and lead toward surplus over the while keeping the debts as low as possible. As per the estimations made in PEFO 2016, surplus in the cash balance is projected by the 2020-21. Cash deficit is expected to fall 2.1% to 0.5% of GDP. There has been remarkable revision in the expected level of fiscal deficit falling to 0.3% from 2.4% of GDP (Fazzari, Morley and Panovska 2015). As usual the budget sheds focus on the implementation of governments plan for growth stimulation and job creation. The imposition of ten year tax plan on enterprise is god source of increasing national as well as household incomes that also makes provision for the investors. This brings innovation and create employment too while keeping the tax payment of the business fair and contributing to the growth of GDP. The investment in infrastructure by the government is major component of fiscal strategy in this financial budget. Over $50 billion has been estimated to be invested between 2013 and 2020 (Coady and Gupta 2012). The another major component of government expenditure has been defense and security of the Australians. The government is making provision of $29.9 billion investment in defense through the approval of Defense White Paper in order to enhance and strengthen the capabilities of the sector (Rendahl 2016). In this fiscal, government provides enormous financial assistance as fund to the schools and hospitals for reformation as well as enhancing the quality and safety. This consolidates the long term funds for sustainable growth in these sectors too. The fiscal strategy adopted by Australian government follows the requirement of the Charter of Budget Honesty Act 1998 (Jord and Taylor 2016). Same as the previous fiscal years, the prime focus of the government is to achieve the surpl us in the budget over the course of economic cycle. Estimatation About Fiscal Policies: 2017-18 If we look at the current economic situation, the investment boom in the mining sector has gone underway. The current budget stands upon the announcements made by the government already regarding stimulating growth and create more jobs to deal with higher unemployment. The successful transition of the Australian economy is supported by the budget that brings forth such national plan. The major focus is on the tax cut to mainly businesses operating in the country in order to encourage more investments in the business (Bodie 2013). Making the export deals secured is also major focus since export is the source o exposure to new markets and opportunities. Investment in the national defense industry and defense infrastructure translates into economic growth through long run improvement in the productivity. The commitment of government is to invest in strong economy by making redirection in its investment that would boost productivity and growth. The action of government through fiscal str ategy is to handle the pressure of cost that is faced by business and household sector. Higher priorities are given on funding the main services provided by government on which mass of population depend. The government ensures the benefits are accessed and utilized by Australians mostly rural people. The budget of 2017-18 is a depiction of fairness and responsibility towards balance pathway of the economy. The cash balance of the economy is having an expectation to improve and increase from a deficit of $29.4 billion (1.6 per cent of GDP) in 2017 to a projected surplus of $7.4 billion (0.4 per cent of GDP) in 2020. This financial budget is a proper mechanism to demonstrate fiscal discipline of the government. The restraints on government expenditure and policy of budget repairing caused projected growth in the bottom line of $11.4 billion ranging over 2017-2021 as compared to 2016-17 budget. In relation to the negotiations made in Senate, new expenditure decisions are offset by reduction in the same (Arestis 2012). The expectation regarding net operation balance indicates an improvement from a deficit of $19.8 billion (1.1 per cent of GDP) in 2017-18 to reach a projected surplus of $7.6 billion (0.4 per cent of GDP) in 2019-20 and reach almost $17.5 billion (0.8 per cent of GDP) in 2020-21. The cash balance is forecasted to continue being in surplus reaching 0.5% of GDP in 2024-25 (Armingeon 2012.). The government has long borne strategy of achieving and sustaining the surplus budget is also carried out in this budget too in order to maintain the fiscal discipline (Afonso and Sousa 2012). Conso lidating the balance sheet of the government and redirection in spending and investment decisions are also the major factors that have been remained to be same for over past five years now that targets mostly to take the economy out of fiscal deficit and propel toward surplus one along with stimulating the growth in overall economy through the channel of productivity and workforce participation. Conclusion: From the above analysis, it is quite clear that the economy of Australia captures much of global attention. The country has been managing to sustain a stable economic growth over time. The Great Financial Crisis had worse impact on Australia even though the nation was not directly involved or linked to the poor performance of capital or failure of lending. However since the country is linked with US and other nations through channel of international trade, the post crisis global halt affected economic outcome of the nation leading to all in GDP growth rate and international trade volume contracted too. This recessionary impact of the country was counteracted by the expansionary monetary as well as fiscal policies adopted by the national government in order to boost the economic activity. This has led to huge debt burden on the country. The public debt ratio to GDP and the payment to GDP ratio has been greater over the years. This has led to stringent fiscal policies like increase in tax burden, reduction in government spending in order to take the nation out of the shackles of higher fiscal deficit and lead toward budget surplus. Such is evident almost every budget of the nation from 2013-2018. The continuous targeted focus of the government is evident in the fiscal policies that revolve around the same theme and that has allowed the country to move toward surplus achieving the targets. References: Afonso, A. and Sousa, R.M., 2012. The macroeconomic effects of fiscal policy.Applied Economics,44(34), pp.4439-4454. Arestis, P., 2012. Fiscal policy: a strong macroeconomic role.Review of Keynesian Economics. Armingeon, K., 2012. The politics of fiscal responses to the crisis of 20082009.Governance,25(4), pp.543-565. Bodie, Z., 2013.Investments. McGraw-Hill. Bova, E., Carcenac, N. and Guerguil, M., 2014. Fiscal rules and the procyclicality of fiscal policy in the developing world. Cspedes, L.F. and Velasco, A., 2014. Was this time different?: Fiscal policy in commodity republics.Journal of Development Economics,106, pp.92-106. Cimadomo, J., 2012. Fiscal policy in real time.The Scandinavian Journal of Economics,114(2), pp.440-465. Coady, D. and Gupta, M.S., 2012.Income inequality and fiscal policy. International Monetary Fund. DeLong, J.B. and Summers, L.H., 2012. Fiscal policy in a depressed economy.Brookings Papers on Economic Activity,2012(1), pp.233-297. Fazzari, S.M., Morley, J. and Panovska, I., 2015. State-dependent effects of fiscal policy Management.Studies in Nonlinear Dynamics Econometrics,19(3), pp.285-315. Fontana, G. and Setterfield, M. eds., 2016.Macroeconomic Theory and Macroeconomic Pedagogy. Springer. Jord, . and Taylor, A.M., 2016. The time for austerity: estimating the average treatment effect of fiscal policy.The Economic Journal,126(590), pp.219-255. Katsimi, M. and Sarantides, V., 2012. Do elections affect the composition of fiscal policy in developed, established democracies?.Public Choice,151(1), pp.325-362. Kopits, M.G., 2013.Rules-based fiscal policy in emerging markets. International Monetary Fund. Ljungqvist, L. and Sargent, T.J., 2012.Recursive macroeconomic theory. MIT press. Mankiw, N.G., 2014.Principles of macroeconomics. Cengage Learning. Rendahl, P., 2016. Fiscal policy in an unemployment crisis.The Review of Economic Studies,83(3), pp.1189-1224. Romer, C., 2012, April. Fiscal policy in the crisis: lessons and policy implications. InIMF Fiscal Forum, April(Vol. 18). Stiglitz, J.E., 2015. Reconstructing macroeconomic theory to manage economic policy. InFruitful Economics(pp. 20-56). Palgrave Macmillan UK. Storm, S. and Naastepad, C.W.M., 2012. Macroeconomics beyond the NAIRU.Economics Books. Teles, V.K. and Mussolini, C.C., 2014. Public debt and the limits of fiscal policy to increase economic growth.European Economic Review,66, pp.1-15.

Influence of Political, Social, and Cultural Issues

Political, social, and cultural factors in the world have significant influence on the economic and security status of a society. The political, social, and cultural factors are parameters that reflect the stability of the local states, nations or the entire world. All countries are striving to shape their economic and security aspects by ensuring stability of political, social, and cultural factors. Advertising We will write a custom essay sample on Influence of Political, Social, and Cultural Issues specifically for you for only $16.05 $11/page Learn More Steinlin argues that, â€Å"the idea of development is the most recent stage of the enlightenment notion of human progress as a continual process of internal and external expansion based on values of rationality, secularity, and efficiency† (9). Internal expansion involves local and national industrialization strategies geared towards economic growth while external expansion entails being in t andem with the globalization development. The objective of achieving economic growth and stability is to eliminate poverty, which is a perpetual issue in the world full of inequalities and competition. Therefore, poverty is an issue that transcends political, social, and cultural dimensions and it affects individual members in the society at all levels, be it at local, national, or international levels. People are unable satisfy basic human basic needs due to poverty. In the society, there are two types of poverty viz. the absolute poverty, and the relative poverty. Absolute poverty is complete inability to satisfy the basic human needs while relative poverty is the inability to afford quality and standard human needs. Steinlin defines poverty â€Å"as a human condition characterized by the sustained or chronic deprivation of the resources, capabilities, choices, security and power necessary for the enjoyment of an adequate standard of living and other civil, cultural, economic, political and social rights† (9). Poverty dictates the kind of lifestyles that people live and that explain why there are various socioeconomic classes of people in the society.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Human health and education depends on the economic status of the individual, family, the society. Compliant political, social, and cultural aspects in a society that seeks to keep abreast with economic development due to the globalization provide an environment where economy thrives. Poor economic strategies by the government adversely affect the health and educational status of its citizens. Deprivation of the resources severely affects the living standards of the people for they will not afford quality and standard healthcare and education. Poverty directly reflects poor health and low educational status of individual members in the society. Since poverty has so cial, political, and cultural dimensions, it affects everybody in the society. Therefore, so long as poverty still looms in the society, there would be hardly any achievements towards improving the health and educational standards of the people. Poverty due to deprivation of basic human needs or inequality encourages the emergence of criminal activities in the society. The criminal activities in the society are proportional to the level of poverty. Steinlin argues that, â€Å"poverty deprives individuals of privileges such as choices, security, and power needed for the enjoyment of an adequate standard of living and other fundamental civil, cultural, economic, political, and social rights† (13). This means that poverty discriminates against the poor in the society leaving them to resort to criminal activities as means of survival. Eventually, the society becomes an unsafe place to both the poor and the rich due to poverty and crimes respectively. Therefore, the solutions to poverty lie in the government efforts that shape political, cultural, and social parameters, which determine poverty levels in a country. Works Cited Steinlin, Marc. â€Å"Basics on the Human Rights Based Approach to Development.†Advertising We will write a custom essay sample on Influence of Political, Social, and Cultural Issues specifically for you for only $16.05 $11/page Learn More Helvetas Swiss Association for International Cooperation 6.2 (2004): 1-12. This essay on Influence of Political, Social, and Cultural Issues was written and submitted by user Kar1na to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Tristate tornado essays

Tristate tornado essays The tri-state tornado of 1925 was the hugest and most devastating tornado in U.S. history. Its speed, size, power, and duration enabled it to amass the greatest fatalities and injuries ever, almost doubling its next closest competitor. The 18th of March was just another spring day, and many people thought the storm was just another spring storm, but it was far from that. The great F5 twister started its journey near Ellington, Missouri it then passed through Annapolis MO, where 90% of the town was destroyed. Moving east, the twister crossed the Mississippi just 75 miles south of St. Louis. Had the twister passed through St. Louis its power would have only been amplified as would the number of fatalities. The twister proceeded to Gorham, Illinois where almost the entire town was destroyed, with 34 people taking the big ride in the sky, literally and figuratively. The tornados next stop was Murphysboro where it recorded the largest death toll within a single city at 234 dead. 50% of the towns population was left either dead or injured. The estimated damage there was around 10 million. Im not sure what ten million in those days would equate to now but it would have to be at least a billion. The next stop of this amazing phenomena was Desoto, Illinois, population 600. In two minutes 24 homes were obliterated and 69 people were killed. The sheer force of the tornados winds drove a 2x4 through a steel railroad car, and carried a huge grain bin one-quarter of a mile (Watson, 2002). Still traveling eastward, West Frankfort, a small mining community was where the tornado did some of its last major damage. Most of the men in the town were 500 feet underground mining and minding their own business. It was the power outage that forced the hardworking men above ground only to find total devastation. Their homes were d ...

Question Essay Example | Topics and Well Written Essays - 250 words - 8

Question - Essay Example When the level of technology is low or out of date, the system level autonomy is limited due to lack of proper requirements while when the level of technology is good, the system level is less limited. This matters a lot. Low level of investment is likely to limit the level of the autonomy of the system-level whereby this will be due to lack of adequate resources while on the other hand if the investment is good the system-level may not be much limited. The surrogate hierarchy of decision making is based on the fact the in the absence of the competent advanced directives, decision still have to be made. In this case the surrogate hierarchy comes into play. The hierarchy of the surrogate decision making is therefore as follows: In case it reaches the decision making point when the suffering patient is out of reach the first people to be consulted in this case are the patients spouse with help in the final decision making. State registered domestic partners are also allowed to come in and play this role together with the sibling. This may come in place due to self selection and convenience selection. Self selection occurs when individuals allocate resources for themselves while convenience occur when occur when resources are easy to allocate This principle is composed of all the conditions that the society experiences and the positivity behind those conditions. All community must actively show concern towards improving the health awareness in order to make it a better place. This principle has three essential elements which are social welfare, peace and security and respect for persons. It is in line with the concept of human dignity, common good and human rights. It implies what the society at large can offer to individual person. This principle requires that every person within the society be able to access basic health care services that are necessary. This is a policy which its objective is to educate and create awareness to the

Depreciation Essay Example | Topics and Well Written Essays - 2500 words

Depreciation - Essay Example The management of a business usually selects an appropriate method of depreciation depending on the kinds of assets employed in the business, the nature and purposes for which the assets are put to use in the business and the general conditions prevailing in the business environment. Sometimes the business may use a combination of one or more methods of charging depreciation. With this background, this paper analyses the calculation and accounting of depreciation for various kinds of assets in the light of the statement that "Accountants generally prefer to show fixed assets on the balance sheets of limited companies at their original cost, less an estimated amount of depreciation." "The assets of a business arephysical resources owned and used by the business and arelisted on the balance sheet to reflect the value." The assets are classified into two major classifications: current assts and non-current assets. Current assets are those which can be or expected to be converted into cash within a short trading cycle usually a year or so. The current assets are usually short term assets and are meant to be for the short term use of the business. Examples of current assets are cash, inventory and receivables. The non-current assets representing fixed assets that are of long term or more permanent in nature employed in the business. The non-current assets include assets like land, buildings, plant and machinery, equipments and vehicles. The non-current assets have some characteristic features that are common to this class of assets. The purpose of acquiring these assets is to use in the business as against converting into cash on a business venture. Except for the investments in land, the cost of other non-current assets is gradually written off over the period of useful life. This amount that is being written off is being treated as an expense for doing the business and is reflected as depreciation in the profit and loss statement of the business. The depreciation is a periodic charge over the respective assets. The dollar value of non-current assets is shown on the balance sheet as the original cost of the item at the time of purchase (the net asset value is calculated by deducting the accumulated depreciation from the marginal cost)(Business Victoria) 3.0 Definition of Depreciation: A precise definition of depreciation may take the following form: "Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. Depreciation is allocated so as to charge a fair proportion of the depreciable amount in each accounting period during the expected useful life of the asset. Depreciation includes amortisation of assets whose useful life is predetermined. Depreciable assets are assets which (i) are expected to be used during more than one accounting period; and (ii) have a limited useful life; and (iii) are held by an enterprise for use

Literature Review And Analysis Paper Social Work Essay

Literature Review And Analysis Paper Social Work Essay Ageing is the universal phenomenon encountered by every human individual across the life span. All human beings expect for a healthy and happy old age but not many of them manage to get all those in reality. In this current century, world scenario is changing rapidly in the form of rise in elderly population than before. Many developing countries including Pakistan are affected by this global change. A report on global health and ageing shared recent statistics that in 2010, an estimated 524 million were aged 65 years or older making 8% of world population. It is interesting to note that by 2050 this number is expected to triple to about 1.5 billion signifying 16% of worlds population (WHO Report, 2011). Ironically, in developing countries, geriatric population between 2010 and 2050 is expected to increase more than 250 percent as compared to developed countries. Ali and Kaini (2003) add that this trend in ageing is the result of the demographic shift in fertility rates in combinatio n with mortality rates resulting in ageing of the population (p. 1). Having a glance at our national scenario, it is estimated that the proportion of population 60 years and above in Pakistan will increase from 5.8 percent in the year 2000 to 7.3 percent in 2025 and 12.4 percent in 2050 (United Nations, 2002). Reason for the selection of this topic I came up with my thesis topic as every year particularly on festivals such as Eid, different media channels broadcast programs where views of elderly who are residing in the shelter homes are taken. The eye catching moment was the pain and cry these ageing parents expressed, when their children neglected and dumped them in shelter homes, when they most need support in their last years of life. This event influenced me to work for my thesis in the field of geriatrics. Therefore, based on the significant global and national figures, increase in ageing will predispose the elders to suffer in chronic illnesses, disabilities and new disease patterns. Another, considerable growing fact is that, due to the shift of societal paradigm, elderly population will be the most vulnerable group requiring health attention currently and in the years ahead. Therefore, it is recommended that older adults should remain socially active in their later years (Bergstrom, Holmes Pecchioni, 2000). The findin gs from the proposed research contribution in this area particularly in Pakistani context will assist in filling the gap where elderly population can regenerate themselves without being isolated from social life, and can live with quality, dignity and free of violence in their empty nest days. Significance of the problem Many decades ago the concept of violence against women and children was objected throughout the world but researches in these areas have resulted in the protection and formation of laws for these groups. Likewise, elderly abuse is yet another novel and critical public health and social issue that need prompt attention. Infact, it is one of the most serious subject which is under reported nationally and internationally resulting in thousands of silent victims. Numerous studies are being conducted in the developed countries on the various aspects of the ageing population in order to ensure optimum quality in the later phase of life time. However, many of the South Asian countries including Pakistan are facing serious challenges of decreased economy, low savings, high inflation rates; financial benefits for few percentages of government employees, lack of health insurance coverage are making the life of this vulnerable group questionable. Apart from these encounters, elderly population are confronting with the decline of extended family system and the emergence of nuclear families (Jalal Younis, 2012). In Asian cultures, many of socio cultural practices are grounded on concept of extended family system. Old members of the family are taken care by the young generation and it is regarded as dishonorable if any elder lives alone or in nursing home. In addition to it, this transition has led to the decline in elder decision making power and position and to enjoy later years with dignity and self-worth. Due to this conversion the elderly are at risk, as the younger and more productive members of the family take over, marginalizing the elderly into positions of dependence both social and economic(Subzwari Azhar, 2010, p. 2). Another important change that has taken place in the last couple of years is that younger individuals are migrating for better employment opportunities leaving behind parents with no one to care for them, causing elderly to live alone or they are shifted to shelter homes. Sabzwari and Azhar (2010) supports that one in five patients at the tertiary care hospital in Karachi are elderly. It is estimated that at least 6-7 % of the elderly visiting geriatric clinics at the Aga Khan University Hospital Karachi are living alone with little assistance. Increase in life expectancy has led to substantial increase in aging population globally and it is predicted that the worlds elderly population will continue to increase with an estimated rate at 67 % residing in developing countries by the year 2020 (Karunakara Stevenson, 2012, Ageing population section, para. 1). In Pakistani context, 60 years is designated as the age of elderly. Jalal and Younis (2012) shares WHO report that: 5.6 % of Pakistans population was over 60 years of age, with a probability of doubling to 11 % by the year 2025. Pakistans life expectancy was increased from 45.6 years in 1950 to 66.8 years in 2008 with a probability of increasing to 72 years by 2023 (p. 2). Hence, the decline of popular extended family system and rise of career oriented families, and change in familial values compounded by substantial increase in ageing, subjects older population to maltreatment and this area requires immediate consideration. Jamuna (2003) rationalizes that a series of developments, such as urbanization, industrialization, and migration, and a growing sense of materialism and individualistic orientations have threatened the culture of yesteryear (p.129). One significant cause for underreporting of abuse in Asian cultures is compliance to the value of respect for their elders whereas western cultures sideline them. Research question Older people are left with countless problems in their later phase of life where these years are believed to live in respect, solemnity and self-worth with their married children and grandchildren. On the contrary, this age group has to spend their lives in isolation at home or in shelter homes due to neglect and cruel treatment by them. Although, these old homes are answer to most in need yet they still not provide a solution to majority of the population. Our culture despite its gradual transformation still adheres to the value of caring for their elderly at home (Subzwari Azhar, 2010). Elder abuse is the alarming public health issue present in both developed and developing countries. Very little information is available regarding the extent of maltreatment in elderly especially in developing countries, it is estimated that 4-6% of elderly people have experienced some form of maltreatment at home. (WHO fact sheet, 2011). However, older people are often afraid to report cases of ma ltreatment to family, friends, or to the authorities. There is no reliable data or research conducted in Pakistani context, where sufferings of these elderly populations living in nursing homes could be researched and addressed. Dildar, Saeed and Sharjeela (2012) mentions that elder abuse and neglect are difficult to quantify as these occur in the privacy of the home, institutions and under reported in our country (p. 662). Based on the above facts and literature I came up with the research question that, what are the experience and the perception of elderly people living in nursing home in Karachi, Pakistan? Literature search strategy Literature search was conducted in a systematic way by utilizing available electronic databases, in order to review and explore existing literature related to abuse of elderly population in nursing home. In order to detect relevant literature, two major databases, CINAHL plus with full text and PUBMED was used. Another search engine like Google scholar was also searched to find the relevant literature sources. These databases were searched for the time period between the year 2000 and 2012. Different key words or combination of key words along with the use of Boolean operators were used for all search engines, like elder abuse and nursing homes, elder maltreatment and nursing homes. A synonym for elder abuse like geriatric abuse and for nursing home like shelter home was typed on the search bar. Relevant articles were hunted when the key words were written in research title, abstract of review articles of all data bases. A separate search was carried out for identifying the available literature in Pakistan for this purpose the term Pakistan was added along with other key words to search relevant Pakistani sources. Reference lists of retrieved articles from these databases were also checked for relevant literature. Search from all data bases were narrowed down by the use search filters like year range, gender, age and language. For detail literature search and number of hits (See appendix A). Literature review analysis on elderly abuse in nursing homes Definition The subject of elder abuse began to receive recognition since 1970, and the first boom on elder abuse appeared in UK medical journals in 1975 as granny battering. It was identified by British Gerontologist and the first population based study was done in USA in 1988. International Network for the Prevention of Elder Abuse (INPEA) defines elder abuse is a single or repeated act or lack of appropriate action, occurring within any relationship where there is an expectation of trust which causes harm or distress to an older person (INPEA, 2002, p. 3). Age bracket for elderly is 60 years and above. Some predictions indicate that one million people turn 60 every month and 80 % of these are from the developing world (WHO/INPEA, 2002). All the susceptible victims of abuse who are 65 years or more largely depend on the funded institutions but if there is financial constraint then these vulnerable groups have to be confine to home (Paranitharan, Eidrisinghe William, 2009). There is considerable debate on the definition of elder abuse because some cultures foster certain behaviors that may be considered as abuse in different cultural context. In Australia, elder refers to older local people who have specific positions of power within native communities. It was recommended that elder abuse be replaced with senior abuse in an Australian context as it referred to original and senior population (Ryan, 2009). It can be argued that abuse occurs within a relationship where there is an expectation of trust, no matter different cultures gives different definitions on elder abuse. However McFerran (2009) asserts that research on domestic violence in elderly women, is based on unequal power relations and traditional devaluation of women, not on relationships based on trust (as cited in Ryan, 2009, Definition of elder abuse, para. 3). Therefore, irrespective of the type of abuse, it will definitely result in pointless miseries, pains and sorrows, and decrease quali ty of life of elderly. Types of elder abuse Elder abuse is categorized into five different types: physical abuse, psychological /emotional abuse, financial/material abuse, sexual abuse and neglect (WHO/INPEA, 2002). Most recent data from USA states that, there are about 570,000 cases of elder abuse reported each year, 55% of the cases suffer from neglect which is the most common form of elder maltreatment (Facts on elder abuse, 2012). Economic abuse is one of the most frequently reported forms of abuse, followed by neglect, psychological or emotional and finally physical abuse. Sexual abuse of elders is not reported as frequently as any other type of abuse (Ryan, 2009). Another dimension of elder maltreatment is that it is not restricted to home environment, risk is even leaving them in nursing homes, hospitals and long term care facilities. An empirical study in New Zealand reveals that psychological abuse (59%) is followed by material/financial (42%) and physical abuse (12%) were most frequently identified types of abuse. Sexual abuse occurred in 2% of reported cases (Gadit, 2009). Implications of the proposed research in nursing It is a challenging task for all health care providers to efficiently assess the elderly group so that abuse can be identified and reported for the immediate interventions. Proposed research on this subject will make people aware, that elder abuse will prevent older members from being favorable and positive members of the society. Furthermore, evidence based knowledge on this matter will assist in safeguarding and promoting welfare of the elderly clients. According to Lachs and Pillemer (1995) guidelines from the American Medical Association suggest that all older adults be asked by their physicians about family violence, even in the absence of symptoms potentially attributable to abuse or neglect (p. 438). A careful history taking and interviewing technique is crucial in identifying accurate information on the possible abuse. If the violence on elder is confirmed then priority is to ensure safety of the elderly person by separating from the perpetrator. In the western countries, bas ed on their cultural background, majority of the old age population resides in shelter homes. In Karachi, nursing homes are managed by private NGOs or religious organizations. The Catholic Church runs three old homes in Karachi, and people residing in these old homes pay a minimal fees, and rest are generated through the church (Subzwari Azhar, 2010). Some nursing homes are governed by religious communities functioning with the help of volunteer and donation support. Gadit (2009) identifies that Edhi Foundation is one glaring example of a service where abandoned elderly people are housed. These elderly people are avoided by their children under different grounds like poverty, illness among elderly and general intolerance (p. 3). Recommendation for the prevention of elder abuse A national policy for the promotion of better health of the elderly was designed in 1999, but implementation is yet to be seen. This policy involved the training of health care professionals. An equally important recommendation is the initiation of awareness programs among health care professionals on the subject and the formulation of assessment tools to detect abuse. Another suggestion is the workshops for nursing and medical graduates should be conducted to detect and manage elder abuse more effectively resulting in prompt treatment measures. Potential research on various aspects of care of elderly can urge in the development of policy at governmental level for the protection of geriatric population1. At national level, electronic and print media can play a key role in raising awareness on this subject. It can act as a medium for the provision of specially funded and recreational shelter homes, free health care facilities, and formation of legislative policies (Marshal, Benton Barzier, 2000). Research Methodology The research approach which would best fix on the research question would be qualitative in nature. I would like to go for Phenomenological method as it deals with the truth about reality built in peoples lived experience (Polit Beck, 2008, p. 227). This approach can be applicable on those concepts which are central to the life occurrences of the human being. The core goal is to completely understand persons lived experience and perceptions that it will generate. Inclusion Criteria and Exclusion criteria The inclusion criteria of this proposed research will be all elderly people with an age of 60 years and above in both the genders. Another standard would be all elderly population living in nursing homes in Karachi. The exclusion criteria of this planned study would be all elderly below 60 years of age. Conclusion Transition into old age is another experience which everyone has to encounter. Importance lies in the fact that to be old and live with self-respect, dignity and free from violence, neglect and maltreatment should be an important objective. Geriatric has always been a neglected area, but due to an increase in ageing population, challenge to meet the needs of the elderly is extremely crucial. Elder abuse occurs as a result of strained intergenerational relationship along with the gradual cultural transformations. This critical and under reported phenomenon needs prompt attention by the researchers and government in order to enhance quality of life in their remaining years of life.