Management Integrity on Audit Planning and Evidence Essay Example

Management Integrity on Audit Planning and Evidence Essay Review on the Impact of Management Integrity on Audit Planning and Evidence This research is done to assess the correlation between management integrity and ARM, audit planning and misstatement detection, which leads to analysis of the impact of management integrity information on audit conduct. Motivation Some cases of failures such as Enron and Sardines-Solely have led public in general requiring auditors to be more careful in conducting their audit tasks, especially in terms of audited companies Internal controls. The basic of these internal controls Is built by Its management Integrity. By knowing the management integrity, It Is expected that auditors will be more aware In planning their audit which will affect the quality of their audit results as management Integrity may affect the credibility of the source and evidence. Prior Studies The underpinning theory suggests that there is a link between risk assessment and the way auditors planning their tasks. Previous literature which mostly based on questionnaire shows that auditors rely more on prior year error in their overall risk assessment than on a specific evaluation of management Integrity. It failed to provide good evidence regarding the correlation between risk evaluation and audit related Judgments. Hypothesis Management integrity has negative correlation to risk of material misstatement (ARM), which will affect the audit planning and source of evidence. Management integrity has negative correlation to persuasiveness, timing, and extent (PETE). There is a significant negative correlation between management integrity and the detection of material misstatements. Method From 78 random samples, only 60 clients provided management Integrity assessment. We will write a custom essay sample on Management Integrity on Audit Planning and Evidence specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Management Integrity on Audit Planning and Evidence specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Management Integrity on Audit Planning and Evidence specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The authors did the research based on audit working papers In field setting, within focus on the transactions related to revenue such as cash, account receivables, Ana sales. I en researchers uses data cooing Ana employed ten audit risk model to connect management assessment integrity to risk of material misstatement (ARM) then ARM assessment to choice and scope of audit procedure. Results Clients who were assessed as having high levels of integrity had lower preliminary assessments. However, error in previous years is a better indicator of how risk is assessed and how audits are planned. This evidence suggests that when the client trustworthiness is doubted, the auditors will seek outside information about the financial statements instead of detailed examination of client supplied evidence. Another suggestion is that auditors seek much more persuasive evidence than is indicated by revised audit risk assessments. The result of the examination of the direct link between risk management integrity and the discovery of misstatement suggests that management integrity is associated with the uncovering of misstatement in the current year. Variation in management integrity assessment appears to be related to both audit planning and audit outcomes in a systematic way. However, although, cases of low management integrity are often eliminated during the client acceptance phase, clients with a spectrum of management integrity are still taken on. Therefore, the audit process needs to be able to handle a range of levels of management trustworthiness. Practical Implications One of the positive things from this research paper is that the researchers did the examination based on field setting and audit working papers rather than questionnaire like most prior researchers did. This means the quality of the response would be better as it is based on the real evidence rather than opinions of auditors which were probably scaled or ranked by the researchers before. Scaling, ranking, or vying some choices in the questionnaire would limit the real opinions of the auditors. Furthermore, the authors also put industry and public indicators or variables into their formulas. This means the authors realist that they need to consider other factors which may affect the risk of the audited company, the management integrity, or the culture of the company. Limitations The research was done based on random data from four big accounting firms. There is no further explanation of how random the sample being chosen; whether the researches differentiate the data based on the clients industry or merely random. Moreover, it is questionable whether 54 random samples can really represent hundreds or even thousands of clients. We assume that the clients of the big accounting firms would be big companies as well regarding to the audit fee. Therefore, the results might be different if the data was taken from smaller audit/ accounting Tells or smaller audited companies. I en Iterance newer does not mean the correlation between MI and audit planning, PETE, and misstatements detection will be positive; instead, it merely means that the indicator number of the correlation might change. Moreover, the authors pointed out that the clients of Big 4 audit firms ere dominantly technology oriented, which means an industry with a higher than normal rate of fraud. Therefore, the procedures may differ from those used in other industries. Because of the nature of the data, the authors were unable to identify individual auditors and to communicate the types of Board of directors were involved or what management and ownership relationships exited in the firms being audited. However, it should be noted that despite the results are generally acceptable in the real world, yet an exception might happen when the auditor has similar interest with he management or other parts of the audited company, meaning that the independence of the auditors would be questioned.

Using Dependant vs. Dependent

Using Dependant vs. Dependent Theres no problem here if youre an American: both the noun and the adjective are customarily spelled the same (dependent). But if you follow British spelling conventions, note the distinction between dependant (noun) and dependent (adjective). The noun dependant refers to a person who depends on someone else for support (usually financial support). Dependant is the standard spelling of this noun in British English. Dependent is the more common spelling in American English, though the word may also be spelled the British way. The adjective dependent (always spelled this way in both British and American English) means supported, determined, influenced, or controlled by (someone or something else). Examples Most dependent  [US] students cannot afford to pay for college on their own, without parental help.  The definition of a dependent  student for federal student aid purposes is different than the definition of dependent for federal income tax purposes.(Mark Kantrowitz, Answers to Your Questions on Scholarships and Student Loans. The New York Times [US], November 18, 2011)  The amount of loan a dependant [British] student gets depends mainly on their parents residual income. This is their gross income before tax and national insurance after deducting allowances for, for example, payments into pension schemes, and  £1,130 for any other financially dependant child.(Jill Papworth, A Parents University Bill:  £650 a Month. The Guardian [UK], August 10, 2013)Fearful and anxious people sometimes become dependent on alcohol for relief from their symptoms. Practice Exercises:  Dependant and Dependent (a) The applicant claimed to be a _____ of a deceased worker. (b) Its a myth that a breastfed baby will turn into an overly _____ child. Answers to Practice Exercises:  Dependant and Dependent (a) The applicant claimed to be a  dependant  [British] (or  dependent  [American]) of a deceased worker. (b) Its a myth that a breastfed baby will turn into an overly  dependent  child.

Salaries of Canadian Members of Parliament 2015-16

Salaries of Canadian Members of Parliament 2015-16 The salaries of Canadian members of parliament (MPs) are adjusted on April 1 each year. Increases to MPs salaries are based on an index of base-wage increases from major settlements of private-sector bargaining units maintained by the Labour Program in the federal Department of Employment and Social Development Canada (ESDC). The Board of Internal Economy, the committee which handles the administration of the House of Commons, does not have to accept the index recommendation. On occasions in the past, the Board has put a freeze on MP salaries. In 2015, the MP salary increase was significantly more than what the government offered in negotiations with the public service. For 2015-16, the salaries of Canadian members of parliament increased by 2.3 percent. The bonuses that members of parliament receive for extra duties, for example being a cabinet minister or chairing a standing committee, were also increased. The increase also affects severance and pension payments for MPs leaving politics in 2015, which, as an election year, will be larger  than normal. Base Salary of Members of Parliament All members of parliament now make a basic salary of $167,400, up from $163,700 in 2014. Extra Compensation for Additional Responsibilities MPs who have extra responsibilities, such as the Prime Minister, Speaker of the House, Leader of the Opposition, cabinet ministers, ministers of state, leaders of other parties, parliamentary secretaries, party house leaders, caucus chairs and chairs of House of Commons committees, receive additional compensation as follows: Title Additional Salary Total Salary Member of Parliament $167,400 Prime Minister* $167,400 $334,800 Speaker* $ 80,100 $247,500 Leader of the Opposition* $ 80,100 $247,500 Cabinet Minister* $ 80,100 $247,500 Minister of State $ 60,000 $227,400 Leaders of Other Parties $ 56,800 $224,200 Government Whip $ 30,000 $197,400 Opposition Whip $ 30,000 $197,400 Other Party Whips $ 11,700 $179,100 Parliamentary Secretaries $ 16,600 $184,000 Chair of Standing Committee $ 11,700 $179,100 Caucus Chair - Government $ 11,700 $179,100 Caucus Chair - Official Opposition $ 11,700 $179,100 Caucus Chairs - Other Parties $ 5,900 $173,300 *The Prime Minister, Speaker of the House, Leader of the Opposition and  Cabinet Ministers  also get a car allowance. House of Commons Administration The Board of Internal Economy handles the finances and administration of the Canadian House of Commons. The board is chaired by the Speaker of the House of Commons and includes representatives of the government and official parties (those with at least 12 seats in the House.) All of its meetings are held in camera (a legal term meaning in private) to allow for full and frank exchanges. The Members Allowances and Services Manual  is a useful source of information on House budgets, allowances, and entitlements for MPs and House Officers. It includes insurance plans available to MPs, their office budgets by constituency, the House of Commons rules on travel expenses, rules on mailing householders and 10-percenters, and the cost of using the members gym (annual $100 personal expense including HST for MP and spouse). The Board of Internal Economy also publishes quarterly summaries of MP expense reports, known as  Members Expenditures Reports, within three months of the end of the quarter.

Strategy, Business Information and Analysis Assignment - 2

Strategy, Business Information and Analysis - Assignment Example When a company does not know how to tackle the complexity being contributed by the external factors, the only option for addressing such issues would be to develop, design and implement a strategy. However, before going to implement, the strategy, it is highly significant to take into account the external and internal factors along with considering the examples of successful and failed strategies. In the following parts of this paper, first strategy has been defined in which Mintzberg’s 5Ps have been included. Subsequently, it is followed by the evolution of the word ‘strategy† has been provided. After that part, different schools of thoughts have also been included. Before the part addressing the question of strategy construction, the answer of the question (Does strategy matter?) has been provided. Strategy is a broad term (Snyder, 1999). Strategy has a specific definition and sense particularly within the context of business (Campbell et al. 2002). In this regard, Mintzberg (1987) defines strategy can have five different types of definitions: plan, ploy, pattern, position and perspective. And each is separately defined and explained below. Strategy can be defined as a plan (Mintzberg, 1987). It can be a course of action, a set of guidelines for carrying out specific actions for dealing with a particular situation (Mintzberg, 1987). Mintzberg (1987) further explains that this definition has two dimensions: the plans are developed in advance and concentrated and careful efforts are utilised for developing such plan. Subsequently, strategy can work as a ploy (Mintzberg, 1987). In this type of situation, an organisation tries to manoeuvre for the purpose of discouraging competitors from taking certain strategic action Mintzberg (1987). In this type of strategy, the organisation is not really interested to implement what it

Capital punishment and the death penalty Annotated Bibliography

Capital punishment and the death penalty - Annotated Bibliography Example They explain the stand of the church on the matter with supportive information from the bible. The author of this book discusses death penalty, providing an overview of its execution and a critically analysis this form of punishment with the question whether it is a fair solution or a moral failure. At some point, he looks at it as a government/state-sponsored killing and argues that it has a net brutalization effect of killing of more innocents. This book looks into the universal abolition of death penalty and the importance of abolishing it, evaluating it against human life (i.e. death penalty versus human life). It also looks into the families of both the condemned and the homicide victim. The author of this article tries to evaluate the forces that account for the legality of death penalty including social and political sources. By evaluating racial/ethnic threat theories, he explains why death penalty is present in some jurisdictions and absent in others. This article looks into two aspects of the question whether it is okay to implement death penalty: the ethical aspect and the epistemological one. That is, the morality of executions and the necessary burden of proof/the epistemological argument. This book critically evaluates capital punishment, which it presents as a form of punishment that follows the rule: ‘an eye for an eye’. It also offers statistical information on the support that death penalty receives from various regions. This article features the Council of Europe’s view on death penalty. The views are that death is not justice; death penalty is not a deterrent against crime; the justice system can and does make mistakes; human rights apply to everyone; and murderer should not be made into martyrs. The authors of this article attempt to answer the question whether capital punishment is morally required. They do so by narrowing down into the acts,

Why do people start their own business

Why do people start their own  business There are many reasons why people want to start their own business(es). The most obviously reason is about making money, which is translated into making a better life for himself/herself and also the family. However, studies have shown that some people start their own businesses for other reasons as well. Some do it for the time that they will have to share with those closest to them. If one is an employee, his time is controlled and dictated by this job. There are times when his child is sick, or he needs to send his wife for a medical checkup. Unless he takes a day off, and provided that his boss approves his day off, he is stuck. However, having ones own business, he is also the boss. So, who is the boss to say he cannot take 2 hours off to run a family errand. People like to be recognized for their achievements. But by whos standard? In an organization (it is even worse when the organization is big), many employees achievements are overlooked and made to look like as if they are something employees were paid to do anywhere. However, when   a mistake is done, the repercussions are big. Have you heard the saying that Being an employee is a thankless job. When you do right, your boss does not see. When you do wrong, the entire organization talks about it. With businesses, there are opportunities to grow, to broaden the mind, to meet more people. Do you know why so many people meet and marry their spouses from the organization? That is because they never get to meet anybody else outside the organization. At times, these may not be the best match, but there is very limited choice. Employees circles of friends seemed to be limited people at work and maybe people from church. After a while, the circles may even shrink. Why? Well, people move on, especially those who have started owning their own business. Now, I do believe that it is a basic human desire to be able to help others, whether financially or otherwise. That is why those in need of financial assistance will always make a plea via the   public media as the donations just keeps pouring in. Have you ever felt frustrated that you are not able to chip in more because your own finances are not much better, perhaps. That is why many people have started their business based on this purpose and desire to help others. Free Brian Tracy Video There are perhaps a lot of other reasons why people want to start their own businesses. Wanting to start is a common desire but knowing how to do it is a whole new ball game. Then comes the obstacles of starting a business so of which are:- No Time No Money No Network No Product And the list goes on. Yeah, there are many businesses out there where it does take a lot of time to start, heavy financial investments, no special unique products which are not already sold in the market and nobody to sell it to. Would you be interested if there was a business out there where you choose the amount of time you want to put into the business, very little money down, excellent products and a mentor who will guide you to building the network that you want and need for your business? If you are, then this is just the business for you. This is the perfect business to start you on your dream of owning your own business. Give yourself this one chance.. go and have a look at this opportunity. Why Do People Start their own  Business Q1.2: The Seven Pitfalls of Business Failure Summary: When youre starting a new business, the last thing you want to focus on is failure. But if you address the common reasons for failure up front, youll be much less likely to fall victim to them yourself. Here are the top 7 reasons why businesses fail and tips for avoiding them. The latest statistics from the Small Business Administration (SBA) show that two-thirds of new employer establishments survive at lease two years, and 44 percent survive at least four years. This is a far cry from the previous long-held belief that 50 percent of businesses fail in the first year and 95 percent fail within five years. Brian Head, Economist with the SBA Office of Advocacy, noted that the latest statistics are a much more accurate assessment of new business success rates, and that as a general rule of thumb, new employer businesses have a 50/50 chance of surviving for five years or more. Better success rates notwithstanding, a significant percentage of new businesses do fail. Expert opinions abound about what a business owner should and shouldnt do to keep a new business afloat in the perilous waters of the entrepreneurial sea. There are, however, key factors that if not avoided will be certain to weigh down a business and possibly sink it forevermore. 1. You start your business for the wrong reasons. Would the sole reason you would be starting your own business be that you would want to make a lot of money? Do you think that if you had your own business that youd have more time with your family? Or maybe that you wouldnt have to answer to anyone else? If so, youd better think again. On the other hand, if you start your business for these reasons, youll have a better chance at entrepreneurial success You have a passion and love for what youll be doing, and strongly believe based on educated study and investigation that your product or service would fulfill a real need in the marketplace. You are physically fit and possess the needed mental stamina to withstand potential challenges. Often overlooked, less-than-robust health has been responsible for more than a few bankruptcies. You have drive, determination, patience and a positive attitude. When others throw in the towel, you are more determined than ever. Failures dont defeat you. You learn from your mistakes, and use these lessons to succeed the next time around. Head, SBA economist, noted that studies of successful business owners showed they attributed much of their success to building on earlier failures; on using failures as a learning process. You thrive on independence, and are skilled at taking charge when a creative or intelligent solution is needed. This is especially important when under strict time constraints. You like if not love your fellow man, and show this in your honesty, integrity, and interactions with others. You get along with and can deal with all different types of individuals. 2. Poor Management Many a report on business failures cites poor management as the number one reason for failure. New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, and hiring and managing employees. Unless they recognize what they dont do well, and seek help, business owners may soon face disaster. They must also be educated and alert to fraud, and put into place measures to avoid it. Neglect of a business can also be its downfall. Care must be taken to regularly study, organize, plan and control all activities of its operations. This includes the continuing study of market research and customer data, an area which may be more prone to disregard once a business has been established. A successful manager is also a good leader who creates a work climate that encourages productivity. He or she has a skill at hiring competent people, training them and is able to delegate. A good leader is also skilled at strategic thinking, able to make a vision a reality, and able to confront change, make transitions, and envision new possibilities for the future. 3. Insufficient Capital A common fatal mistake for many failed businesses is having insufficient operating funds. Business owners underestimate how much money is needed and they are forced to close before they even have had a fair chance to succeed. They also may have an unrealistic expectation of incoming revenues from sales. It is imperative to ascertain how much money your business will require; not only the costs of starting, but the costs of staying in business. It is important to take into consideration that many businesses take a year or two to get going. This means you will need enough funds to cover all costs until sales can eventually pay for these costs. 4. Location, Location, Location Your college professor was right location is critical to the success of your business. Whereas a good location may enable a struggling business to ultimately survive and thrive, a bad location could spell disaster to even the best-managed enterprise. Some factors to consider: Where your customers are Traffic, accessibility, parking and lighting Location of competitors Condition and safety of building Local incentive programs for business start-ups in specific targeted areas The history, community flavor and receptiveness to a new business at a prospective site 5. Lack of Planning Anyone who has ever been in charge of a successful major event knows that were it not for their careful, methodical, strategic planning and hard work success would not have followed. The same could be said of most business successes. It is critical for all businesses to have a business plan. Many small businesses fail because of fundamental shortcomings in their business planning. It must be realistic and based on accurate, current information and educated projections for the future. Components may include: Description of the business, vision, goals, and keys to success Work force needs Potential problems and solutions Financial: capital equipment and supply list, balance sheet, income statement and cash flow analysis, sales and expense forecast Analysis of competition Marketing, advertising and promotional activities Budgeting and managing company growth In addition, most bankers request a business plan if you are seeking to secure addition capital for your company. 6. Overexpansion A leading cause of business failure, overexpansion often happens when business owners confuse success with how fast they can expand their business. A focus on slow and steady growth is optimum. Many a bankruptcy has been caused by rapidly expanding companies. At the same time, you do not want to repress growth. Once you have an established solid customer base and a good cash flow, let your success help you set the right measured pace. Some indications that an expansion may be warranted include the inability to fill customer needs in a timely basis, and employees having difficulty keeping up with production demands. If expansion is warranted after careful review, research and analysis, identify what and who you need to add in order for your business to grow. Then with the right systems and people in place, you can focus on the growth of your business, not on doing everything in it yourself. 7. No Website Simply put, if you have a business today, you need a website. Period. In the U.S. alone, the number of internet users (about 70 percent of the population) and e-commerce sales (about 70 billion in 2004, according to the Census Bureau) continue to rise and are expected to increase with each passing year. In 2004, the U.S. led the world in internet usage. At the very least, every business should have a professional looking and well-designed website that enables users to easily find out about their business and how to avail themselves of their products and services. Later, additional ways to generate revenue on the website can be added; i.e., selling ad space, drop-shipping products, or recommending affiliate products. Remember, if you dont have a website, youll most likely be losing business to those that do. And make sure that website makes your business look good, not bad you want to increase revenues, not decrease them. When it comes to the success of any new business, you the business owner are ultimately the secret to your success. For many successful business owners, failure was never an option. Armed with drive, determination, and a positive mindset, these individuals view any setback as only an opportunity to learn and grow. Most self-made millionaires possess average intelligence. What sets them apart is their openness to new knowledge and their willingness to learn whatever it takes to succeed. http://www.businessknowhow.com/startup/business-failure.htm Q1.3: Important Factors in Setting Up a Business Setting up a new business takes imagination, research, analytical skill, time and money. Whether you buy an existing business or start a new one from scratch, the steps you take must have a structure that, formed comprehensively and executed cleanly and efficiently, give you the best likelihood of succeeding. You should create a feasibility study and business plan that you can present to advisers and funding sources, whether theyre loan officers or potential investors, that offers dispassionate analysis and displays your enthusiasm for the project. Imagination Maybe you have an idea for a new business, or there may be an interesting business for sale in your area. Either way, its critical that you see the potential and risks to help inform your decisions as you move forward. Your community may lack a certain retail or service business, or there may be a business for sale that you believe you could sustain and improve. You might have ideas that would lead you to build a business that competes with a similar one, believing you can provide higher quality products, more variety or better and/or faster service. If you a need for a business and believe it could work, its just a matter of finding a client base to satisfy. Research A feasibility study reveals, in statistical data, the size of your potential customer or client base. State governments put great volumes of demographic data on their economic development websites, so you can gather counts of individuals, numbers of households, age brackets, education and income levels and other demographic informationall identifiable by zip code, county and community. If your idea involves school children, you can find data relative to student enrollments by age, gender and school district, for public, private, parochial and home-schooled children. Specific state agencies have data on preschool children, children in foster care and those who are otherwise wards of the state, as well as all manner of data on seniors and incarcerated individuals. Analytical Skill Once youve gathered sufficient data about your potential trade area, you should estimate how many people and geographies dont fit your model. For example, your bicycle shop might find many more customers in a community in the central plains states, where the topography is relatively flat, than in downtown San Francisco, which is full of very steep hills. In addition, some communities advertise themselves as being bicycle-friendly. Your demographic data might suggest that opening a day care business in a predominantly retirement-aged community is a bad idea because there are not enough children to support your operating expenses. Use conservative estimates to determine your potential market and market share. Loan officers and potential investors want certainty that you havent padded the numbers to increase revenue projections, so be prepared to defend your numbers. Business Plan Write a comprehensive business plan that includes sections on management (your experience and fitness for the specific effort you propose), operations (how youll actually conduct the business), marketing (how youll reach your target audience) and key advisers and staff (where will you get the human capital to ensure success). Your plan should also include data from the feasibility study that supports your estimates of market share and the time line to profitability. Again, use conservative estimates of revenues and liberal estimates of expenses. Funding sources will want confidence that youve thought things through carefully and thoroughly. Time Frame You may have the luxury to work full-time on your project, but if you have a day job that requires your attention then youll have to set aside evening and weekend hours to set up your business. Getting permits, licenses, FDA approval and patents take time. You might get a building permit or a business license in a few days, but FDA approval for a food or cosmetic product can take years. Patent research in the hands of a dedicated patent attorney takes time and can be expensiveas much as $30,000 or more. The same holds true if youre renovating a property and your new effort requires an architects stamp, which might cost 10 percent of the construction cost. Simply put, plan on having your project take more time than you originally thought. Funding Sources You may start your business with your own funds, then get support from friends and family. The next layer of funding can be a bank or Small Business Administration loan. SBA funding typically tops out at $150,000. Beyond that there are angel investors, who are individuals of means who take financial risks with entrepreneurs in return for an expected high return on their investment (ROI). If your project requires large sums of investment money, you may be able to find venture capital called professional money with a solid, conservative business plan. Venture capital money requires a very high ROI, though, because of the great risk of failure among start-up businesses. Tax increment financing (TIF) funds help entrepreneurs rehabilitate distressed properties in certain communities. While TIF funds are set up as loans, some, most or all of the funding can be forgiven if the entrepreneur and the new business satisfy certain requirements, such as creating a certain number of jobs. Other Considerations and Resources Along the way, youll probably need the advice and counsel of an accountant, attorney, contractor or architect. The SBA has offices in most major cities and a number of medium-sized ones as well. Become familiar with the National Business Incubator Association (NBIA). Incubators provide physical space and certain amenitiesperhaps phone, fax, copy and Internet serviceat no or minimal cost. They can provide access to consulting, accounting, legal and other resources, again at zero or minimal cost. They may charge a modest rent or take an equity position in your new company. In some cases the incubator may take a royalty or share in your licensing revenues. Learn about the Kauffman Foundation, a comprehensive resource for entrepreneurs. http://www.ehow.com/about_5382205_important-factors-setting-up-business.htm Q1.4: 5 Resources You Need To Succeed To Start A Business Anyone can start a business. But to start a business that succeeds and continues to flourish isnt so easy. According to Statistics Canada, at least half the new companies in Canada go out of business before their third anniversary, and one in four new enterprises dont survive longer than one year. If youre going to start a business that has staying power, there are five resources that you must have in place before you open your literal or figurative doors. To turn a start up venture into a successful business, you must: Fully Commit Successful entrepreneurs are people who are fully committed to their business ventures. You have to be prepared to put your heart and soul into what youre doing. You have to truly believe in your product or service, and be prepared to work long hours to get others to believe in your product or service, too. You have to be ready to go without treats such as holidays, and even necessities such as salary, for what may seem like an endless stretch of time. And you have to do all this without the safety net that salaried employees are used to, such as benefits and pension plans. Be a Type D People commit themselves to all kinds of things; causes, hobbies, other people. Just being able to make a commitment doesnt automatically lead to business success. If youre going to get where you want to go in business, and start a business that will endure, you also have to be what I call a Type D person; someone who has desire coupled with drive, with strong discipline and determination. You have to not only have the business ideas, but be able to execute them. Successful business people are tenacious; obstacles are temporary barriers to work around. They may take No for an answer, but only for as long as it takes them to reframe the question from another angle and ask again. But desire and drive alone are not enough to start a business; you dont want your business to be a temporary comet streaking across the sky. Discipline and determination are what give successful business people the endurance to follow through on their business ideas, and weather the storms and calms of the economic climate. Knowledge is another resource you need to have in place before you start a business. Continue on to the next page to learn what types of knowledge and skills you must have if you want to start a business with staying power. Get The Business Knowledge You Need Many people have tried to start their own businesses without bothering to acquire the business knowledge they need to make their business a success and their businesses have failed. To start a business, you have to be knowledgeable about many different aspects of business and have many different skillsà ¢Ã¢â€š ¬Ã‚ ¦ or at least have done the research to find and hire the people who have the skills you lack. If you arent knowledgeable enough about accounting to keep your own books, for instance, youre going to need to hire a bookkeeper and/or an accountant. If your business is Internet-based, youd be wise to hire a company to design your web site and handle the back end, unless you personally are an expert in site development. When youre creating your business plan, one of your first steps needs to be a frank assessment of your skills and expertise. What aspects of the business are you qualified or willing to handle, and which aspects will necessitate either more learning on your part or calling in outside help? Managing people is only one skill set youre going to need to start a business thats going to be successful. You also need to be knowledgeable about sales and marketing.  For example, suppose youve developed a better mousetrap. Who are your competitors? What are the mousetraps theyre offering like and how are they priced? What makes your mousetrap better? Is there even a need for a better mousetrap out there? Where is out there? Do you have the skills needed to identify and contact customers? Are you good at selling mousetraps? Can you develop a feasible marketing plan and promotional material? And what about business operations? Do you have the business knowledge to manage inventory and fill orders? Where all you going to store all your mousetraps and how are you going to get them to your customers? Have you found the suppliers you need and developed relationships with them? Have you set up a customer support policy? Business knowledge before you start a business is critical. All the drive and determination in the world isnt going to help you if you dont have the knowledge to actually run a successful business and dont bother to research and plan for your success appropriately. A friend of mine had long dreamed of opening a bookstore. So he did. Unfortunately, he hadnt bothered to study the competition or the demographics of the market in the area. It took less than a year for his bookstore to fail. He had the desire and the drive, but didnt have the knowledge he needed to apply them. So lets assume that you are a Type D Personality with all the business knowledge necessary to start a business. Are you a shoo-in for success? Not unless you have the money you need to start a business. Continue on to the next page to learn about finding start up money. Find Adequate Business Start Up Money Unless you personally have deep pockets, such as inherited wealth, figuring out where youre going to get the money to start your own business and getting the financing in place beforehand is going to be one of the most important components of planning your business. Finding adequate business start up money is especially critical because theres no guarantee that your business is going to make money right away, and certainly no guarantee that your new business will bring in enough money for you and your family to live on. You cant start a business without start-up capital, the total amount of money you need to open your doors for business, and to keep them open until sufficient revenue can be depended on. Youre also going to need operating capital to start a business, the amount of money it takes to keep the business going. Operating capital includes expenses such as salaries, wages, rent, expenses, supplies, utilities, advertising, depreciation, and interest payments. Small business advisors recommend that start-up expenses include at least six months operating capital. If you dont have deep pockets of your own, where do you get the business start-up money you need? According to a 1998 study of small- and medium-sized enterprises by Thompson Lightstone and Company, fifty percent of small- and medium-sized business owners report that they currently borrow from a financial institution, such as a bank. Twelve percent of SMEs finance their companies through private loans from friends or relatives and three percent by loans from non-related individuals. Forty-one percent use personal credit cards to finance their businesses. Personal assets, such as savings, (including RRSPs, pension funds, severance allowances), remortgaging property, credit cards, and personal property, are the most common initial source of business start up money for small businesses. This may be because people starting new businesses have no alternative; if you dont have much collateral or an established credit history, getting a small business loan can be difficult. (See my article, How To Get A Small Business Loan, to learn how to increase your chances of making a successful small business loan application.) In Right From Home: How To Start a Successful Home-Based Business, Barbara Mowat and Ted James state that money borrowed from family, relatives and friends makes up more than fifty percent of the loans to home-based businesses. They advise avoiding misunderstandings and bad feelings by always getting agreements about loans in writing and making sure that all loans are set up with proper security, any terms or conditions, and a payment schedule. This is sound advice to follow whenever you borrow money. What else do you need to start a business with staying power? Support. Click to continue reading The last of the five resources you must have to start a business that will be successful is a good support system. When youre thinking of business support, look first to the home front. Its no coincidence that most successful small business operators are married. While we like to talk about going it alone and running our own show, you cant start and run a successful small business without the support of other people. And who better than a supportive spouse to listen to your ideas or problems, and provide the encouragement or advice that keeps you going? In Entrepreneurship: A Profile For Canadians, (available from the Canadian Foundation for Economic Education), William E. Jennings points out that the successful entrepreneur usually has an exceptionally supportive spouse. He adds that these exceptional spouses dont just provide love and stability, but also specific support for the business, such as helping to provide the capital needed to start a business, or working in the company without pay to keep costs down. Spouses who contribute financially by working outside the business are also a common small business scenario. Having a supportive spouse is especially critical if you want to start a home-based business. As Barbara Mowat and Ted James say, in reality, you dont start a home business, your whole household does (Right From Home; Starting A Successful Home-Based Business).  You cant start a home-based business without considering what your family members think about the idea, what role(s) your family members might play in your business, and how your business is going to affect your home life. Without the active support of your family, your home-based business will fail. Talk out these issues beforehand and explore how supportive your family is before you start a business. Other business people are another valuable source of business support. No matter what kind of business youre thinking of starting, someone has been there and done that. Talking to other business people who have already established a successful business can go a long way towards avoiding pitfalls and provide insight into what works and what doesnt. Ive always found that other business people are willing to share their knowledge with others; if you cant find someone locally to talk to, theres a ever-growing network of business communities online (like this one!) where you can get the information you need, and sometimes good advice, too. Youre always welcome to post your questions and comments on the Small Business Canada forum. And my Business Support library has links to Canadian organizations where you can get advice, find a mentor, or just talk to someone. Q1.5:

Welfare Of Parkinsons Disease Sufferers Health And Social Care Essay

Parkinson ‘s disease is a common disease confronting many older people across the universe. It affects the cardinal nervous system and it impairs cognitive procedures, motor accomplishments and other maps. This disease largely affects the older coevals and it manifests itself with symptoms which include rigidness, shudder, postural instability, awkwardness in motion and others. Other symptoms include sleep troubles, centripetal and autonomic disfunction. Parkinson ‘s disease has a high prevalence rate among older people with about 500,000 people enduring from the disease in the United States. In add-on, there are about 1 million people who suffer from the disease but they have non been diagnosed yet ( Oxtoby et. al. , 2004 ) . This makes Parkinson ‘s disease a serious unwellness which requires pressing intercessions by society. Parkinson ‘s disease adversely affects the day-to-day life of people enduring from it since it affects their cognitive procedures or motor accomplishments. This makes most patients rely on household and friends for endurance. As a consequence, there are assorted plans which have been developed to provide for people enduring from the unwellness. This paper aims at analysing Parkinson ‘s disease including statistics and effects on patients. Assorted plans which cater for patients enduring from the disease will be discussed and farther intercessions needed to cut down inauspicious effects on society recommended. The discussed issues will be summarized at the terminal.Statisticss, causality and interventionIt has been stated that there are 500,000 people enduring from Parkinson ‘s disease in the United States and a farther 1 million who have the disease but who have non been diagnosed yet. The disease kills an norm of 14,000 people yearly in the US. In the UK, about 1 % of hospital audiences are for Parkinson ‘s disease and the average age of patients diagnosed with the disease is 65. Globally, it is estimated that about 10 million suffer from the disease although there are few statistics on Parkinson ‘s disease. The cause of the disease is non known although it has been linked with genetic sciences in some instances. It has besides been linked to exposure to some insect powders. Parkinson ‘s is normally diagnosed by a combination of methods. It is hard to name the disease utilizing pathological agencies and clinical trials are normally used in naming Parkinson ‘s. Neuro-imaging is besides another effectual manner of naming the upset. The disease is normally treated utilizing medicine although at some phases complications may happen as a consequence of trust on medicine. Treatment techniques include the usage of MAO-B inhibitors, Dopastat agonists and L-dopa. Rehabilitation and diet have besides been seen to assist in allev iating symptoms. In utmost instances, encephalon stimulation and surgery is used to alleviate symptoms of the disease.Psycho-social challenges confronting affected patientsThere are many challenges which patients who suffer from Parkinson ‘s face. Since the disease impairs cognitive procedures, motor accomplishments and other maps, it makes twenty-four hours to twenty-four hours activities hard to execute. Acts which many people take for granted such as speaking, walking, bathing, bathroom control, memory and others, may all of a sudden turn out disputing for Parkinson ‘s patients to execute. This may do them societal loads who require round the clock attending from their households or wellness attention practicians. Many patients particularly those who are hapless or marginalized are normally unable to entree such attention and they are left to endure on their ain. However, there are assorted groups and undertakings which are developed to provide for patients who can no n entree effectual attention. Patients enduring from symptoms of the disease may besides be unable to keep nice employment chances due to hapless cognitive and motor accomplishments as a consequence of the disease. Inability to keep employment makes such patients dependent on others. Patients who do non hold household and friends who may care for them normally do non hold entree to basic demands including wellness attention due to miss of employment. However, these excessively can profit from several plans which have been created to provide for patients enduring from the disease across the US. Another psycho-social challenge confronting many Parkinson ‘s patients is deficiency of entree to effectual wellness attention services. Many patients do non hold support from household and friends and they besides do non hold employment chances. As a consequence, they are unable to afford wellness attention insurance to pull off their status and this worsens their symptoms ( Grimes, 2004 ) . If the disease is left untreated for a long clip, such patients are exposed to human death. This may explicate the high figure of people who succumb to Parkinson ‘s disease which can be managed through intervention. In add-on, there is a high degree of psychological agony particularly for patients in the late phase of the unwellness. Such patients suffer from altered relationships, low ego regard, loss of liberty, societal isolation among other effects. These have an inauspicious consequence on mental wellness and they may take to the development of other mental unwellnesss such as p sychosis. It is hence of indispensable importance that a remedy is found for the unwellness. This may merely be achieved through research.Research undertakings on Parkinson ‘s diseaseThere are assorted researches which have been conducted in order to understand the most effectual manner to name and handle the disease. In a research by Columbia University, 100 people of who half suffered from Parkinson ‘s disease were studied for Dopastat degrees. The healthy population acted as the control group during research. The research findings showed that people enduring from Parkinson ‘s disease lose up to 70 % of Dopastat in the encephalon ( National Institute of Neurological Disorders and Stroke, 2011 ) . This determination was of import since it enabled scientists to develop new ways of naming the disease. They used PET imaging to mensurate Dopastat degrees and find if one suffers from Parkinson ‘s disease. Stimulation of these patients besides recorded improved mo tor working which is provides a footing for handling Parkinson ‘s patients. In another research projected undertaken by the National Institute of Health, three households of Grecian and Italian beginnings which suffered from Parkinson ‘s disease were studied. The scientists aimed at happening out if genetic sciences is a causality of Parkinson ‘s disease. The research findings showed that in all households, there was a mutant of the cistron alpha-synuclein. This determination proved to be of import since it linked genetic sciences to the development of Parkinson ‘s disease. It besides encouraged scientists to further analyze the function of alpha-synuclein in development of Parkinson ‘s disease. Research findings on the impact of this cistron may organize the footing of developing a remedy for the disease. However, farther research on the disease is necessary in order to develop an effectual remedy.Successful community based plans for Parkinson ‘s disease patientsThere are assorted successful plans which have been developed to p rovide for patients enduring from Parkinson ‘s disease. Some of these plans will be briefly discussed below ;American Parkinson ‘s Disease AssociationThis group was founded in 1961 with the aims of easing loads of Parkinson ‘s sick persons and developing a remedy for this unwellness. It has its central offices in New York and the organisation undertakes several enterprises to help in forestalling and handling the disease ( American Parkinson ‘s Disease Association, 2011 ) . It has subdivisions in several provinces and the organisation provides attention to patients across America who suffer from Parkinson ‘s disease. It is chiefly funded by both the authorities and the private sector. This organisation has helped over 1 million patients to day of the month and this figure is bit by bit increasing. The APDA organisation provides financess for research on the disease in attempts to develop remedy. Already, over $ 1 billion has been used in this enterprise to day of the month. The organisation besides provides support for patients who suffer from the upset. It provides medical aid through associating patients with qualified wellness attention professionals and guaranting that medical costs are paid. This is normally aimed at supplying the hapless and marginalized people with no entree to wellness insurance with an chance to entree high quality intervention. Finally, the APDA organisation strives to educate the populace on the presence of Parkinson ‘s disease in society and how to care for patients enduring from the disease. This is a really of import enterprise since it ensures that patients have moral and physical support from their friends, households and society at big.Columbia Parkinson ‘s SupportThis organisation was developed to supply information, support, consciousness and instruction on Parkinson ‘s disease. It is run by voluntaries and it is a non-profit group entirely developed to provide for demands of P arkinson ‘s patients. Most of these voluntaries are patients who besides suffer from Parkinson ‘s. The group began runing in 1985 and it has helped over 5,000 Parkinson ‘s patients since so. Its chief aims are back uping patients enduring from Parkinson ‘s through fiscal or medical aid, set abouting research aimed at developing a remedy for the disease and sensitising the populace on the presence of the disease and how to care for patients who suffer from it ( Columbia Parkinson ‘s Support, 2011 ) . The CPS group holds treatments and forums one time a hebdomad in attempts to sensitise the populace on the disease. Although this is a comparatively little group with limited support, the members participate in clinical tests whenever an chance presents itself and this is an of import measure towards developing a remedy for the disease. The group sets aside $ 3,000 yearly for research intents on Parkinson ‘s disease. This group is funded by good wisher s and members every bit good as other stakeholders. The local community besides plays a major function in raising financess to back up the cause of the CPS group.Social intercessions which may assist pull off Parkinson ‘s diseaseThere are assorted intercessions which should be applied in order to assist pull off the effects of the disease in society. These intercessions will be briefly discussed below ;Educating populace on the diseaseEducating the populace on presence of the disease and how to care for patients who suffer from it is one of the most effectual ways of pull offing the disease. Patients who suffer from Parkinson ‘s require support from the household, friends and community at big ( Duvoisin & A ; Sage, 2001 ) . Increasing consciousness of the disease amongst the local community enables patients enduring from this disease to hold mental and physical support from society. It besides informs the populace on the symptoms and causes of the disease thereby encoura ging cheque ups and early intervention on people enduring from symptoms of the disease.More support for research on Parkinson ‘s diseaseAlthough there are many installations which undertake research on Parkinson ‘s disease, most of these plans are under-funded. Many organisations and groups prefer funding research for diseases such as malignant neoplastic disease and diabetes which are viewed as more common and lifelessly. However, Parkinson ‘s disease is besides a serious disease which requires a similar degree of attending. More support should be provided by the authorities and private houses for research on the disease in order to develop an early remedy and salvage 1000000s of lives.Bettering entree to healthcare insuranceThere are more than 5 million people in the US who do non hold entree to wellness acre insurance. This is due to the high cost of insurance which is beyond their fiscal abilities. There are many people who suffer from Parkinson ‘s diseas e who fall in this bracket. Such patients are unable to entree medical attention to pull off the disease and this causes farther injury on their mental and physical wellness. Guaranting everyone has entree to wellness insurance is an effectual manner of contending the disease since it will promote early intercession and intervention thereby minimising the effects of the disease on society ( Michele, 2009 ) .Execution of the intercessionsIn order to efficaciously implement these intercessions, the authorities and private sector should organize a partnership. Partnership between the two would do support for Parkinson ‘s disease research and intervention easier. The community should besides be involved when implementing these intercessions. This is because patients require community support which may either be psychological or physical for their wellness to better. The authorities and local governments should guarantee that everyone has entree to wellness attention by cut downing wellness insurance costs and increasing support of wellness attention. This will guarantee that Parkinson ‘s disease is diagnosed and treated early for the bulk of patients.Summary and decisionAssorted facets of Parkinson ‘s disease have been discussed in item. Parkinson ‘s is a common disease in the US and across the universe although it is mostly unmarked. Its cause is unknown and it has no remedy. Over 500,000 people have been diagnosed with Parkinson ‘s in the US and 1 million others have the disease but have non been diagnosed. The disease affects patients physically, mentally and socially since it affects cognitive procedures, motor accomplishments and other maps, doing twenty-four hours to twenty-four hours activities hard to execute. Patients who have been diagnosed with Parkinson ‘s disease suffer from psycho-social jobs such as inability to keep nice employment chances, deficiency of entree to effectual wellness attention services and psychol ogical agony particularly for patients in the late phase of the unwellness. Assorted groups such as Columbia Parkinson ‘s Support and American Parkinson ‘s Disease Association contribute to bettering the public assistance of patients through increasing consciousness of the disease, funding research on the unwellness and supplying medical and fiscal aid to patients. In order to pull off the unwellness, assorted intercessions should be implemented and these include educating populace on the disease, apportioning more support for research on Parkinson ‘s disease and bettering entree to healthcare insurance by patients. This will guarantee that early diagnosing and intervention of the disease is achieved and that fewer people succumb to the effects of the disease. However, farther research is needed to develop a remedy for Parkinson ‘s. Developing a remedy for the disease will salvage the lives of future coevalss.