Essay on Implementation of Business Ethics in the Company

Essay on Implementation of Business Ethics in the Company Essay on Implementation of Business Ethics in the Company Essay on Implementation of Business Ethics in the CompanyAn active component of organizational ethics strategy is ethical audit. It is the procedure of systematic evaluation of the companys ethical performance and programs aimed at determining the effectiveness of ethics policies. The purpose of this paper is to choose a company, to check whether this company uses ethical audit, to examine the components of ethical audit if the company does use it and to draft a new plan for establishing ethical audits if the company does not use it.The chosen company is Walmart, a worldwide known retailer operating in 27 countries (Walmart, 2014). Walmart pays significant attention to ethics and has a special Global Ethics Office responsible for promoting Walmarts integrity. Furthermore, Walmart has own code of ethics, offers ethical training and uses ethical committees responsible for resolving ethical issues and enhancing ethical decision-making in the company.There is no information pointing out at the presence of a separate ethics audit procedure at Walmart. However, there are elements of ethics audit integrated in the companys culture. First of all, Walmart has an Audit Committee which is responsible for monitoring financial performance and integrity as well as the quality of independent audit (Walmart, 2014). The Audit Committee, in particular, reviews the compliance of corporate procedures and activities with the companys Statement of Ethics (code of ethics) (Walmart, 2014). Furthermore, ethics committees also ensure that ethical standards are maintained within the company and introduce measures for improving ethical climate. In addition, Walmart has a separate responsible sourcing audit process for suppliers; in this process, Walmart ensures that supplier practices meet or exceed Walmarts ethical requirements (Walmart, 2014).Therefore, using the criteria set by Parraga (2013), it is possible to see that Walmart has all important elements of ethical audit verification of the code of ethics and its implementation in the organization, ethical orientation of groups and individuals, ethical training, use of helplines and hotlines. Walmart even manages to expand its ethical standards to its supply chain. However, it would be better for Walmart to have a separate ethics audit including the above-mentioned elements.

Free sample - Pope Benedict XVI- Jesus of Nazareth. translation missing

Pope Benedict XVI- Jesus of Nazareth. Pope Benedict XVI- Jesus of NazarethI found the book by Pope Benedict XVI an excellent historical depiction of Jesus not portrayed by modern culture, but one of the true historical perspectives according to the Early Church and resources of the Catholic Church. There is no the most commonly used plot as Jesus ’life. This is the first book about Jesus Christ ever written by a Roman Catholic Pontiff. But this book is unique, because the author is Pope himself and Pope assumes the position of an ordinary believer. The book of Pope Benedict XVI † Jesus of Nazareth† is not a learned scholar of religion, not history or research methodology, but personal experience in understanding of Jesus. The author is level with his interlocutor- all the people, he addressed to. Both humility and courage you can find out in this golden deed. The author highlighted the main problem Christianity faces nowadays. The dramatic reality of our times is the fact that, for the first time in tw o thousand years, the majority of the people could lose their perception of the only thing that always inspired them the Personality of Christ. In my opinion there is an urgent need for books like that by Benedict XVI to make sure that it will not happen. His aim is to save the personality of Jesus from ‘popular’ depictions and to restore Jesus’ gospel identity. Pope shows the readers a rich, flesh-and-blood incarnation of Christ. One of the characteristics of Jesus’ portrait is Love, which fills all the pages and leads the author. As for the author himself, he is shown as a usual believer, trying to express his own thoughts and opinions. He writes, that â€Å"Everyone is free, then to contradict me. I would only ask my readers for that initial willingness to sympathize, without which there can be no understanding.† (Foreword, XXIV) We read in ‘Jesus of Nazareth’, that â€Å"the great question that will be with us throughout this entir e book: But what has Jesus really brought, then, if he has not brought world peace, universal prosperity, and a better world? What has he brought? The answer is very simple: God. He has brought God! He has brought the God who once gradually unveiled his countenance first to Abraham, then to Moses and the prophets, and then in the wisdom literature- the God who showed his face only in Israel, even though he was also honored among the pagans in various shadowy guises. It is this God, the God of Abraham, of Isaac, and of Jacob, the true God, whom he has brought to the peoples of the earth. He has brought God, and now we know his face, now we can call upon him. Now we know the path that we human beings have to take in this world. Jesus has brought God and with God the truth about where we are going and where we come from: faith, hope, and love.† Pope is well-known by his sharp criticism of capitalization of modern society, spiritual enslavement of developing countries. He doesnâ⠂¬â„¢t hide his position in the book. Considering the faith in the modern world, Joseph Ratzinger tells what it means to be a witness of Christ nowadays. In the terms of indifferent and even hostile world it is becoming a personal risk. The world has greatly changed. Seeking for well-to-do lifestyle, in many cases people forget about soul and faith. This point is best stated by Pope Benedict XVI. â€Å"The aid offered by the West to developing countries has been purely technically and materially based and not only has left God out of the picture, but has driven Men away from God. And this aid claiming to know better is itself what first turned the "third world into what we mean today by that term. It has thrust aside indigenous religions, ethical and social structures and filled the resulting vacuum with a technocratic mind-set. The idea we could turn stones into bread; instead our aid has only given stones in its place.† (‘Jesus of Nazareth’, p.33) I was greatly impressed the fact, that the author depicts Jesus as someone alive, who is known well to everybody. That’s true, because Christianity is ‘meeting’ with God in the person of human, with God, who is everyone’s intimate friend. Love to Christ is above all. That’s why Pope Benedict XVI decided to tell his own words about Christ and his words were heard. Having read the book, I was greatly interested in the personality of Pope Benedict XVI. He is not a dull theologian, but a thinking and decisive person, who has strong views on life. Especially I liked his manner of speaking about habitual things, uncovering their core.

Inflations in UK PowerPoint Presentation Example | Topics and Well Written Essays - 1250 words

Inflations in UK - PowerPoint Presentation Example (Davies, 2012). The Inflation is stated as a percentage. For example if the CPI is 2%, it means that we now have to spend 2% more on the same goods and services than we were doing earlier. Consider the price of a Cinema Ticket. Suppose it was  £10 last year and the CPI is 2%, this means we will now have to expend  £10.2 for the tickets this year. (2% increase in price) (Davies, 2012) CPI measures the changes in prices for Consumer goods and services only, whereas RPI includes mortgage costs taxes and interest payments. CPI accounts for consumer choice as well. It formulates that with a change in price, a consumer shall move to a cheaper alternative or go for a substitute product. For example, if the price of Tea increases too much for the liking of a consumer, he may opt to consume Coffee if it is available within his price range. The Government and Bank of England use CPI and RPI to fix interest rates, if inflation is expected to rise beyond a certain level, the Government may increase interest rates in order to curb inflation. The Office of National Statistics (ONS) collects several prices of goods and services. It weighs how much we spend on the relative products every month and then these prices are combined to produce a composite index which is the Rate of Inflation. The Inflation in UK in January 2014 was recorded at 1.9%, with the average Inflation between 1989 till January 2014 being 2.8%. It recorded a High of 8.5% in April 1991 and a low of 0.5% in May 2000. (Taborda, 2104) The following table represents the history of Inflation in UK over the past decade. As we can see from this table, the highest Rate of Inflation was recorded in Sept. 2011 and Sept. 2008 at 5.2%, and the lowest at 1.1% in Oct. 2009 and March April Oct. of 2004. As we can see from the 2 graphs, controlled inflation is good for the economy. The BOE has set the benchmark for controlled inflation at 2%. At

Learning Reflection Essay Example | Topics and Well Written Essays - 250 words

Learning Reflection - Essay Example Therefore, the customers of this product will experience a sense of class, without spending a lot of money on the gadget. The closest brand competitor of this phone is mainly other smartphones produced by Apple Inc. However, I chose Samsung, compared to Apple because Samsung products are affordable. As a student, I have no income that would enable me purchase a smartphone from Apple, since this company produces for the top income earners in society. The price of Samsung S III has also been lowered, compared to its pricing last year. In addition, I chose to buy a Samsung phone because of the features of the phone. For instance, this phone operates on an Android operating system, compared to Apple phones, which operate on a different operating system (iOS), which is somehow difficult to use for those who are not used to Apple products. My decision to buy this Samsung phone was highly influenced by the marketing of the product. Samsung is good at marketing, compared to its competitors. The company employs diverse marketing strategies, which enable its customers to learn about new products. Samsung S III has been marketed for a long time, since last year. This is through advertising, sales promotions, internet marketing, among others. Therefore, I became more familiar with the Samsung S III, compared to other brands, and this is what finally drove me to buy the

Othello - Manipulation To Gain Power :: essays research papers

Othello: Manipulation To Gain Power     Manipulation is a very powerful word. People use this tactic everyday to get what they want in life. By deceiving people or tricking them into seeing a certain point of view, people gain power. To skillfully use the power of manipulation a person must use another person's weaknesses. By using a person's emotions against them, they can be manipulated with ease. In Shakespeare's Othello, the character of Iago uses these tactics almost to perfection to achieve his goals. 	The first scene of Act I illustrates Iago's use of manipulation. Iago knows that Roderigo is upset about losing Desdemona to Othello. Iago himself is angry at Othello for being passed over for promotion to lieutenant for Michael Cassio. Realizing that by playing on Roderigo's jealousy he can gain an ally to work against Othello. Iago does this in a subtle manner. He explains to Roderigo that he was passed up for promotion by Othello. While doing this he makes Othello look inferior by reinforcing the fact that he is a Moor. By pointing out that Othello is a Moor Iago causes Roderigo to become even more jealous, because of the fact that he lost Desdemona to someone who he feels is of a lesser race. It even seems that Iago is toying with Roderigo when he reveals that he is a fraud when he says, "I am not what I am." (I.i.62) By using these tactics, Iago has almost gained total control of Roderigo. 	Iago uses a different tactic to manipulate Brabantio. He changes Brabantio's way of looking at the marriage of his daughter Desdemona to Othello. He awakes Brabantio by saying "Awake! What, ho, Brabantio! Thieves! Thieves! Look to your house, your daughter, and your bags! Thieves! Thieves!" (I.i.76-78) By saying this, Iago shows a new perspective to Brabantio by insinuating that Othello has stolen his daughter. Iago reinforces this when he say's, 		Zounds, sir, y'are robbed! For shame. Put on your gown! 		Your heart is burst, you have lost half your soul. 		Even now, now, very now, an old black ram 		Is tupping your white ewe. Arise, arise! 		Awake the snorting citizens with the bell, 		Or else the devil will make you a grandsire of you. 		Arise, I say! (I.i.83-89) After hearing Iago speak, Brabantio has had his eyes open to a new perspective of the situation. Iago then begins to uses a new manipulative strategy, he starts using bestiality to describe Othello.

Revenue Cycle and Control Activities Essay

The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales, not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization, supervision, segregation of duties, access control, independent verification, and accounting records. We will discuss each department that is involved in the revenue cycle, it’s activities, and control activities.The first section discusses the departments that make the revenue cycle , starting with Sales Department and ending with Billing Department, knowingly that collections must be received and adjustments must be made. The second section discusses the six activities mentioned earlier. Departments The revenue cycle is composed of five independent (in activities and personnel) departments that are required to make function and make a sale. Each department carry out it’s own, and every department depends on the the preceding department in order to function properly. An additional two activities must be considered in the revenue cycle are collection of receivables and adjustments to sales and receivables. Sales Department Every sales process starts with receiving a customer purchase order- by mail, in person, or telephone. Thus controlling the customer’s orders is carefully done, and operating procedures must be maintained in an adequate manners. The department then identifies and reviews items and quantities to determine whether the order can be placed, then they prepare The Sales Order. The sales order is not the standard format that the seller’s order processing system needs. The sales order has vital information, such as the customer’s name account number, description of the items sold quantities, and prices. A copy of sales order is placed in the open order file, the customer getting the ordered goods might take days or even weeks. The customer might check about the status of his or her order, order file is updated every time the status of the order changes .It also sets instructions to guide various divisions and department, including credit, finished goods, shipping, billing, and accounts receivable units. Credit Approval Department To provide independence to the credit authorization process, the credit department is organizationally and physically separate from the Sales Department. The credit approval department receives a copy of the sales order from the sales department. The document received serves as an authorization to preform a client credit check. The check includes investigating new customers’ ability to pay and creditworthiness, and a line of credit is established. Typically new checking new customers take time more that existing customers. A good control activity is a limit test, which measures the customer have unused credit. This process set an upper limit that the customer must not pass, if passing it the purchase order by the customer will be denied. Warehouse Procedures After a credit check has been performed and approved, and a sales order is received. The warehouse is responsible of issuing merchandise and items that were mentioned in the sales order to the shipping department. In a typical company that have finished goods in it’s inventory, this inventory is supervised and controlled by a storekeeper. He is responsible for issuing the goods. Another control activity must be done is updating the inventory records by the accountant, not by the storekeeper. This separation of duty prevents theft of inventory. The Shipping department When receiving the finished goods from the warehouse, the shipping clerk must reconcile the products received from the warehouse with the products mentioned in the sales order. This is an important control activity, which ensures send the right products and quantities to the customer who ordered them. Then this department prepares shipping documents , such as the bill of lading as they are loaded into the carrier- cars, trucks etc. These documents numerically controlled and are entered in a shipping register before being forwarded to the billing department. A gate control is done when shipments are made by truck, this ensure that goods have been recorded as shipments. The clerk enters these transaction and sends a shipping notice and stock release to the billing department. The Billing Department Upon receiving the Shipping notice and stock release from the shipping department, a sales invoice with any relevant information about the transactions and bills the customer. Billing departments are responsible of serially numbered shipping documents, comparing documents received from other departments, entering data from sales orderers and purchase order on the sales invoice, applying prices and discount to the invoice, make extensions and footing, accumulating total amounts. Controls should be done to ensure the accuracy of sales invoice before sending them to the customer, such as a second person review. The billing clerk enters the transaction into the sales journal and send the documents to the account receivables and inventory control department. Collection of Receivables Most receivables are either consisted of checks, and remittance advice and collected through the mail. The cashier is responsible for checks and depositing them, and the remittance advice will be forwarded to the account receivable or the data processing department, which will be recorded in the appropriate accounts. Reductions in the AR are posted periodically to the general ledger control account. Adjustments to Sales and Receivables All adjustments to sales for allowances, returns, and write-offs of account receivables should be supported by a credit memo which is serially numbered. This memo must be signed by an employee having no cash handling duties or maintenance over the customers’ ledger. Good Internal controls require that goods must be checked and examined before a credit is given, and the memo should have the serial number of the receiving report on the returned shipment. The treasurer give grant the credit manager the authorization to initiate the process of uncollectible receivable write off. Updating Inventory Records The inventory control function updates the inventory subsidiary from the information included in the stock release document which was prepared by the the warehouse. In a typical perpetual system, every item has it’s own record in the ledger containing data, such as units sold, units received m reorder point, EOQ, and standard cost. The stock release document decrease the amount of the inventory. Over a period of time the total reduction in inventory is summarized in a journal voucher and sent to the general ledger function. Revenue Cycle controls As mention earlier every department of the revenue cycle must have it’s own controls over is activities, doing so might prevent theft, error, fraud, and enhancing the it’s operations. Six controls are to be covered in this section regarding various department and activities in the revenue cycle Transaction authorization this ensure that valid transactions are processed only, and it include credit check and return policy for sales processing and remittance list for cash receipts. Credit Check as mentioned is function carry out by the credit department. This department might uses various test and techniques to determine if the customer is trust worthy or not. Different procedures and done to do credit check, depending on the organization, its relationship with the customer, and the materiality of the transactions. Approving for a new customer might take longer time that existing customer, and a decision that falls within the employee authority may be done quickly. However credit check must be done with consistency of the company’s policy. Return Policy is also a credit department task, the returns must be authorized by this department before receiving them. the nature of the sales and the circumstances determine the authorization granted. Again policies set by the organization, such as cash refunds, must be taken into consideration for granting returns. Remittance List verifies that customers checks and remittance advice match. This reconciliation might detect errors, such as an extra remittance advice or and absence of a customers’ check, it also might detect a difference between checks and remittances. This list authorizes the posting of a remittance advice to a customer’s account. Segregation of Duties it ensure that separate individual and department processes the transactions. The size and type of an organization affect this type of control, for instance a personally own small business might not need this kind of control, because the owner is the management. The revenue cycle has three rules about the system designers. First, transaction authorization should be separate from transaction processing, such as the warehouse department. The warehouse department cannot issue goods without the confirmation of the credit and the sales department. Second, asset custody should be separate from the task of asset record keeping. For instance, the warehouse department has physical custody over it’s inventory, but the inventory control is in charge of maintaining the record of inventory levels. Last, the organization must be structured so that fraud require collision between two or more individuals. This means that task should be separated, such as different record keeping individuals. An employee with a total record keeping responsibility, in a collusion with an other employee with custody might commit fraud. Separating task needs more people to commit fraud. Supervision is considered a compensating control for companies who have little number of employees to make a segregation of duties. Supervising those employees detects error made, and inadequate functions. This tool is used also in system with a good segregation function. For instance the mail room is a good place to commit theft for check received, cashing it, and destroying and evidence relating to the theft. Although this might be detected when complaints made by a customer about billing him again, but the best solution is preventing it from the beginning. Therefor a good supervision over employees is considered a good prevention control. Accounting Records this control activity describes how a firm’s documents, journals, and ledgers form the system in various stages of processing. It’s also an important feature of well-designed accounting systems. Prenumbered Documents, are sequentially numbered documents that allow every transaction to be uniquely identified. Tracking event related to documents through t system is easy. Special Journals, The revenue cycle uses a specific journals, such as sales journal and the cash receipts journal. Special journal groups similar transactions into a specific journal. Subsidiary Ledgers, there’s two subsidiary ledgers in the revenue cycle, the inventory and accounts receivables subsidiary ledgers. They provide links to the documents used to capture the events related to each subsidiary. General Ledgers, these are the basis for every accounting system, and for the preparation of every financial statement. Sales, Inventory, Cost of goods sold, AR, and cash are affected by the revenue cycle’s transactions. Files, temporary and permanent files are opened as a result from the revenue cycle. Some examples are, sales order files, shipping log, credit records file, back order file, journal vouchers, . Access Controls it’s used to grant authorization and permission to employee and access to the firm’s assets, such as the physical assets, cash and inventories. Ways in protecting these assets are: warehouse security, Daily cash deposits, safe/night deposit box, using safes. Access control over information involves restricting access to documents that control physical assets, such as journals and ledgers. Examples of the access risk: Removing one’s account from Account receivables ledger, do so he company can’t send the customer monthly statements. Access to sales order might trigger unauthorized shipment of a product. Access to general ledger and cash might steal and cover it up by adjusting the ledgers. Independent Verification the main reason independent verification is to verify and assure how accurate and complete the tasks are. Independent verification occur at various point is the process, so that errors are detected and dealt with quickly. Independent Verification in the revenue cycle occur at the following points. First, The shipping department reconciled the goods sent from warehouse with the quantity and type ordered by the customer. this is done by reconciling the stock release document with the packing slip. Second, The billing department reconciles sales ordered with the shipping notice to ensure sending the right invoice with the quantities and prices ordered by the customer. Last, Before posting to any control accounts, the general ledger function reconciles various journal vouchers and summary reports which were prepared independently. Other Controls include verifying approved buyer, this is not frequently used, but sometimes a purchase order might be completed and signed by and unauthorized person from the client company. Stamp approval on sales order. It is possible for sales orders to be fraudulently routed around the credit department and sent to the warehouse,s o an approval stamp to be used on each sales order. Prenumber sales order forms. Only prenumbered sales order documents should be used. By doing so, the company can track which sales order numbers did not reach the billing department, which may indicate that a delivery was not invoiced. Lock up unused sales order forms. It is possible for someone to enter an order to a shell company on an unused sales order form, fraudulently stamp it as approved by the credit department, and route it to the warehouse as authorization for a delivery. References. 1. Whittington, O.Ray, and Pany,Kurt.(2001).Principles of Auditing and other assurance services.13th edition.New York: Irwin. 2. Hermanson, Roger, and Strawser, Jerry, and Strawser, Robert.(1989).Auditing Theory and Practice.5th edition. Boston: Irwin. 3. Bragg, Steven. 2009. Accounting Control: Best Practices. New Jersey: Wiley & Sons Inc. 4. Hall, James. Accounting Information Systems. 7th edition. Ohio. Cengage Learning. 5. Wilkinson, Joseph and Cerullo, Micheal and Wong-on-Wing, Bernard and Raval, Vasant .2000 .Accounting Information Systems: Essential Concepts and Applications.Wiley 6. Mooney, Kate. 2008. The essential accounting dictionary. 1st edition. Illinois: Sphinx Publishing, An imprint of sourcebooks, inc.

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