Sole Trader Or Sole Proprietorship In Business Commerce Essay

Sole Trader Or Sole Proprietorship In Business Commerce Essay A sole proprietorship means that a person does business in their own name and that one person owns that business as well (the word Propriety means owner). A sole proprietorship, or just simply proprietorship, is one type of business which in legal terms has no separate existence from its owner. Meaning, that the law does not make a difference between the property that belongs to the owner, and the things that belongs to the business, which are called assets. Hence, the limitations of liability enjoyed by other types of business; which are a corporation and partnership; does not apply to sole proprietorship. Also there is no difference between the money that the owner owes people and the money that the business owes people, which are also called debts. In short, all debts of the business are debts of the owner as well. A sole proprietor business does not pay corporate taxes, but the owner of the business pays personal income taxes on the profit made by the business. A sole proprietor must register a Trade name or Doing Business As. A business with a legal name or a registered name will allow the proprietor to open a business account with banking institutions. A sole proprietorship business has some advantages: The owner of this kind of business has better control of the business itself in general and better business administration is possible since there is only one owner, decision making will be quick because there is no need to consult others; there are also no legal formalities in terms of forming or dissolving a business; a sole propriety has a lot of freedom from government regulations. Every form of business ownership has some sort of government regulation to follow, but in general, this form of business has the least. For example: a sole proprietorship reports its income and deductions using just a simple one or two page tax return form, while a partnership or corporation are required to submit a tax return composing of several pages in length and also a quarterly and an annual payroll tax return; in addition, all the profit of a sole proprietorship business go directly right to the owner. On the other hand, some disadvantages of this type of business are: businesses in sole proprietor type will likely have a hard time in raising capitals since share of the business are personal and cannot be sold; it is also sometimes difficult to apply for a bank finance, as sole proprietorship cannot grant floating charge which in jurisdiction is a sine qua non (originally a Latin legal term for without which it could not be) of bank financing; hiring of employees may also be difficult. This form of business have unlimited liability, therefore, if the business is face with a legal case, the owner or the proprietor is personally liable; business in this form is also uncertain, because as soon as the owner decides to stop the business, or the owner eventually died, the business then suddenly ceases to exist.; another disadvantage of this form of business is that as the business becomes successful, risks that accompanied the business tends to grow. A Partnership Is a type of business that has between 2 and 20 partners that owns the business respectively, in which partners shares all the profit or losses of the business in which all have invested. A legal agreement should be signed, if two or more people are planning to start a partnership business. The agreement must include these points: if the partnership ends, what happens to the assets of the business. For example: the tools and the furniture; how will the profits be shared by the partners. For example: one partner works everyday on the other hand another partner only works three day a week. They would not share the profit equally because the other works more than the other; if one partner wants to leave the partnership. By having a legal agreement that includes these points, the interest of all the partners will be safe. Every time a new partner joins, the entire partner must sign a new agreement. Each of the partners can write their own contracts for the partnership, but they must ensure that it is a valid legal contract. Like in a sole propriety, the laws do not recognized any difference between the partnerships assets and debts, and the partners personal assets and debts. Also the law does not recognize any difference between different partners assets and debts. In most countries, a partnership is considered a nominate contract between individual who, agreed to carry on an enterprise, cooperates and contributes to it, by combining property, knowledge, activities and to share its profit. A partnership is also considered a legal entity; although different legal system had reached different conclusions on this point; because partners involved have a partnership agreement, or a declaration of their partnership. A Partnership type of business is often favored over corporations for taxation purposes. In a partnership business eliminates the dividend tax that is levied upon profits. The most basic form a partnership business is a General Partnership. In this kind of partnership, all the partners personally manage the business and also personally liable to its debts. The other forms which have developed in other countries are the Limited Partnership (LP), in this partnership, certain limited partners relinquish their ability in managing the business in exchanged for limited liability for the partnerships debts; and the other form of partnership is the Limited Liability Partnership (LLC), in this form, all partners have some degree of limited liability in the partnership. There are also Private Limited Companies which are one the most common type of company that limited liability refers to the Shareholders who owns the company as they have purchased company shares. Shareholders are only liable to the amount they owe on the shares they purchased (this referring to guarantee). These companies are often run by families. There are 50 persons allowed in private limited companies. A Close Corporation A Corporation is considered to be an artificial legal entity (technically, a juristic person) which, even though have a number of natural persons or other legal entities, has a separate legal identity from them. Unlike a Company who has directors or shareholders, or a board member or chairperson; a close corporation are owned and managed by people called Members. A close corporation can only have 10 members. The law sees a close corporation separate from its members. This means that unlike in sole propriety and a partnership, all the assets and debts of the business belongs to the close corporation, all the assets and debts of each of its member corporation have nothing to do with the close corporation. As a legal entity, the corporation receives legal rights and duties. These rights are: the ability to sue and be sued (access to court); Rights to common treasury (rights to hold separate assets from its members); the right to hire agents (the right to hire employees); the right to ha ve a common seal (rights to govern its internal affairs); government and courts can also add other rights. Granting of additional rights to corporations is often very much controversial. Stewart Kyd, the author of the first treatise on corporate law in English, defined a corporation as a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested by the policy of the law with the capacity of acting in several respects as an individual, (A treatise on the law of corporations, 1794, p.13) The Modern Business Corporation; a type of corporation presently dominant; and in addition to a corporations legal rights, has three legal characteristics: Transferable share (membership can change without affecting the corporations legal entity); capacity for perpetual succession (this means that despite the withdrawal of any of its member, the corporation can possibly exist); and limited liability (members have limited responsible in the corporation in terms of debts). Corporations may also be formed fir local government (municipal corporation), charitable purposes (non-profit corporation), or for political, religious, or government programs (government-owned corporation). As a generic legal term, a corporation can be any group that has a legal personality. Why Go Global Companies tend to globalize to conquer new marketing grounds. There is actually no agreed starting point when did globalization began. Globalization in general refers to as the increasing integration of capital, goods, and services to the world market. Globalization, in order to develop, uses three forces; Migration (the human or the work force), international Trade, and capital integration of financial market. There are some factors that can affect globalization. A company going to a global market without proper knowledge of what lies ahead, is suicidal. A countrys culture should be given consideration and thoroughly studied before venturing in global market. One interesting way to evaluate culture is to consider the peoples sense of humor. A person should ask himself these questions; is it self-effacing? Does it insult other culture? Is it innocent? Does it promote racism? This can provide an insight in to what approach to consider when tackling international cross-cultural issues. A company planning to go global should be prepared to whatever obstacles and challenges that accompanied this goal. A countrys geographical information should also be given consideration, because by doing so a more precise plan on marketing plan can be develop. Knowing Chinas geographical information would be very handy when it comes to marketing strategy. It would be easy to formulate plans on logistics. Meaning more products can be market on every part of the country. More part of the country would be available for market. Knowing all these factors doesnt mean it will eventually prevent any more conflicts to occur, but it will absolutely reduce the probability that a conflict can occur. Still the best solution to avoid such problems is to take intermediate actions to solve them. Solving a problem immediately can avoid the possibility for the problem to grow. Once a problem occurred a proper and ready-made solution should be done. Factors in entering foreign market There are certain that may affect a company in venturing into the global market. These factors should be considered in order to operate in global trade smoothly. A companys direct investment is needed in order for a company to operate in the global market. The company should have enough money to invest. In a corporate industry where money is the fuel for progress, a company that have enough resources can male it big in the global trade. Money is resources, without these resources to invest, it would be impossible to pursue the global market; Joint venture (often abbreviated as JV), is formed between two or more parties that agrees to undertake economic activities together. Both parties involved in this agreement, agreed in both contributing equity, they then share the enterprises revenue, expenses, and control of the enterprise; Licensing, in order to avoid legal case, licensing is necessary in all type of business. Especially in venturing into foreign territories, it is important to furnish all legal aspects before conducting business; by these means the company can operate their business without flaw. Exporting is marketing a certain product globally or in other word, it is sending goods for sale or exchange to other country abroad. Importance of business strategy It is important for a company to have a god business strategy. By managing a companys strategy a specific objectives, policies, and plan will be developed that will help the company in achieving its goals. This will provide an overall direction for the company. A good strategy should be appropriate for the companys over all resources, environmental circumstances, and the companys main objective in general. It also should match the companys strategic advances to the business environment that the company faces. A good strategy must also integrate the companys goal, policies, tactics, and values. Future trends should be given consideration too because this will enable the company to adapt in future marketing trends, this way the company can adapt to changed and not be left behind. Types of Marketing Strategies Every marketing strategy is unique, each beneficial in different kinds of business. Each strategy is and can be reduced into generic marketing strategy. Strategies based on market dominance in this scheme, companys are classifies according to their market share or their dominance in the industry; Porter Generic strategies, are strategy that is based on the dimension of strategic scope and strength of the company. Strategic scope refers to market penetration, on the hand strategic strength is the companys sustainable competitive advantage; innovation strategies, deals with the companys new product development and business innovation; Growth stage, in this strategy, the question, How should the company grow? should be answered. The most common answers are; horizontal integration, vertical integration, diversification, and intensity; marketing warfare strategy/warfare-based strategy, that trys to withdraw parallels between business and warfare; it applies military strategy to business s ituations. Unlike in a Warfield, the enemies to consider in the business field are the competitors. Key Steps towards a Strategic Plan Vision The first step toward a strategic plan is to have a realistic vision for the companys business. A good strategy plan should be able to visualized future trends to come. A strategic vision should consider future products, processes, customers, markets, staff, location, etc. Mission This indicates the purposes of the business. The nature of the business is also expressed in terns of mission. For example: designing, developing, manufacturing, and marketing a specific product line to meet the needs of a specific customer group through a certain distribution market in a particular area. This indicates what the business is about. We can say that a company is specializing in marketing a certain product, to a certain group of consumer, in a certain location. Values Values govern the operation of the business, its conduct, and its relationship with the society, the customers, its supplier, employees, and the local community. Objectives This is what the company wants to achieve in either for short or foe long term. Objectives should also relate to the requirements and to the expectations of all the members, including the employees. Objective should reflect to the main reason why the business is running. Strategies Are the rules and guidelines by which all the objectives and mission may be achieved. Strategy can also cover the business as a whole which can include diversification, acquisition plans, and organic growth. Or strategy can also be related to the primary matters in business key functional areas. Goals Goals are specific objectives to be achieved on a time-based measurement or in a specific time set. Goals should be realistic and achievable. Programs These are what set out the implementation plans for key strategies. Program should cover resources, time-scales, deadlines, objectives, performance targets, and budget as well. Importance of Marketing Strategy

“Mugged” By: Jim Crocket : Reader Response Essay

In the essay â€Å"Mugged† by Jim Crockett he talks about his relationship with his coffee mug. This essay is about building relationships and how almost everyone has something they cling to. In the beginning he makes it sound like he was mugged by some people and lost all his money, but that wasn’t the case, he lost something more valuable to him, his coffee mug. Jim thinks he has an addiction to coffee itself, but in reality its with the coffee mug. People never see him without his coffee mug, and Jim always knows where its at, wether its on the table, or in his hand. I believe that even though Jim Crockett is attached to his coffee mug, everyone has some sort of attachment to something. I believe Jim Crockett has a somewhat unhealthy attachment to his coffee mug. By reading his essay the reader can infer several things. He seems to be somewhat desperate to control the details of his life. It would seem that Jim Crockett does not currently have any type of meaningful relationship with a significant other or his piers. The way he speaks of his mug â€Å"its shape, curvaceous, tapered, slim-waisted, and a bit heavier on top†seems to suggest that the coffee mug serves as a surrogate for female companionship. Jim Crockett’s denial of his attachment to his coffee mug and his justification of his actions as addiction to caffeine seem to be a defense mechanism. While a seemingly superficial object to most people the coffee represents a constant presence in Jim Crockett’s life. The reader can also assume that Jim Crockett is also environmentally conscious. He speaks of â€Å"organically, shade-grown coffee† and the â€Å"paper cup and insulating sleeve, both little bits of tree stay in the store.† Jim Crockett shows a very divided personality. While somewhat concerned what his peers seem to think of his supposed coffee addiction he is almost oblivious to stopping traffic to pick up his coffee mug that he left on his bumper. It would also seem that Jim Crockett is somewhat apposed to a big business and corporations based on his jobs as a spanish instructor, some writer, farmer, and carpenter all decidedly, independent professions as well as his mentioning of the â€Å"earth/human pillaging multinational cartel.† While Jim Crockett seems to have a rather unhealthy fixation to his coffee mug we all have attachments to some inanimate object. I can relate to his attachment because as a child I received a blanket, it still gives me a sense of security and well being. It would seem that there is a fine line between

The Nuiances of Descriptive Essay Samples Free Pdf

The Nuiances of Descriptive Essay Samples Free Pdf Top Descriptive Essay Samples Free Pdf Choices A number of the essays ask that you describe what's happening and a number of them are about why it's happening. Also, make sure you're a responsible writer by assuring that all the things which you are write won't hurt anyone or any individual related to what you're describing. Definitions of Descriptive Essay Samples Free Pdf Although descriptive essays are somewhat more open to creativity, you might be surprised to know that it involves a whole lot of organization to be able to attract its audience so it's important you take the opportunity to do this to guarantee excellent work. Professional writers are well trained and have a great deal of experience so can come up with a few of the greatest work. The most important goal is to produce the audience feel like they were involved in the experience. You may easily depend on us to find essay help as we have a tendency to assist an d guide the students with the aid of our professional experts. There's, naturally, a limit on the range of pages even our very best writers can produce with a pressing deadline, but generally, we figure out how to satisfy all the clients seeking urgent assistance. Make certain your position isn't biased and all of your statements are supported by the evidence. You might need to search on the internet or check out magazines that announce such contests from time to time. Dred hours of implications for a selection of time to relate back to compose a simple. On the 1 hand, our descriptive essay outline sample will provide you a sense of the important sections and portions of a descriptive essay. You don't need to buy a Sample essay, as it's entirely free. By viewing the Sample essay, you can choose whether you need to buy an essay for yourself. Viewing a Sample essay and considering the matter of plagiarism is extremely important. Essay writing comes in various forms. Analytical essay requirements usually demand you to not just respond to what you might have learned in a lecture. In addition, it's possible to also have a look at our Argumentative Essay templates. The Lost Secret of Descriptive Essay Samples Free Pdf Youll easily observe that a great a very good comparecontrast paper isn't only pointing out the crucial similarities and differences between two subjects. There are a few topics which are absolutely unseen and students find difficulty in locating the appropriate direction and method of information collection. Also, you should carefully look at the marking rubrics before you commence writing. When you place an order, regardless of what topic it's on, you can be sure that you will have core facets of analysis conducted in your essay. After all, you don't need to provide your readers the incorrect interpretation. Do you understand how you'll understand the intricacy of this assignment. Your language selection will be dependent on this issue. What to Expect From Descriptive Essay Samples Free Pdf? Benefits of Online essay Writing Services Essay writing is an ambitious undertaking for the majority of the students today. Descriptive Narrative Essay Example may be used mainly to recreate a function. Sample essay writing is a kind of writing which can be used for advertising purposes. It is a tough business when you are at college. Dance is more than merely a sport, it is a passion. After the music starts is when you want to start your dance. Dance is a sport that you don't ever wish to give up on. Dance isn't just a concrete phenomenon, it is a social, cultural, a nd historical item. Rumors, Lies and Descriptive Essay Samples Free Pdf If you would like to quote the interviewee in some sections of your essay, be certain that you compose the precise statement which he or she has said during the interview. Writers may be experts for specific levels, as you may also get writers that are experts on more than 1 level. The writer ought to be in a position to bring an emotional link between the reader and the subject. Our writers always create unique content that is absolutely free from all grammatical error. A descriptive essay is a kind of essay which aims at aiding you to illustrate something to your reader in a manner which they can see feel or hear what it is you're discussing. It is a type of essay which aims at helping you illustrate something to your reader in a way that they can see, feel, or hear what you are talking about. If you would like to get started writing a descriptive essay, think about the focus of your writing first. The trick to writing a great effectiveA essay is to get the passion to write it.

The Black Catâ€Plot, Symbols, Themes, and Key Quotes

The  Black Cat, one  of  Edgar Allan Poes  most memorable stories, is a classic example of the gothic  literature genre that debuted in the Saturday Evening Post on August 19, 1843. Written in the form of a first-person narrative, Poe employed multiple themes of insanity, superstition, and alcoholism to impart a palpable sense of horror and foreboding to this tale, while at the same time, deftly advancing his plot and building his characters. Its no surprise that The Black Cat is often linked with The  Tell-Tale Heart, since both of Poes stories share several disturbing plot devices including murder and damning messages from the grave—real or imagined. Plot  Summary The nameless protagonist/narrator begins his story by letting the readers know that he was once a nice, average man. He had a pleasant home, was married to a pleasant wife, and had an abiding love for animals. All that was to change, however, when he fell under the influence of demon alcohol. The first symptom of his descent into addiction and eventual madness manifests with his escalating maltreatment of the family pets. The only creature to escape the mans initial wrath is a beloved black cat named Pluto, but one night after a serious bout of heavy drinking, Pluto angers him for some minor infraction, and in a drunken fury, the man seizes the cat, which promptly bites him. The narrator retaliates by cutting out one of the Plutos eyes. While the cats wound eventually heals, the relationship between the man and his pet has been destroyed. Eventually, the narrator, filled with self-loathing, comes to detest the cat as a symbol of his own weakness, and in a moment of further insanity, hangs the poor creature by the neck from a tree beside the house where its left to perish.  Shortly thereafter, the house burns down. While the narrator, his wife, and a servant escape, the only thing left standing is a single blackened interior wall—on which, to his horror, the man sees the image of a cat hanging by a noose around its neck. Thinking to assuage his guilt, the protagonist begins searching out a second black cat to replace Pluto. One night, in a tavern, he eventually finds just such a cat, which accompanies him to the house he now shares with his wife, albeit under greatly reduced circumstances. Soon enough, the madness—abetted by gin—returns. The narrator begins not only to detest the new cat—which is always underfoot—but to fear it. What remains of his reason keeps him from harming the animal, until the day the mans wife asks him to accompany her on an errand to the cellar. The cat runs ahead, nearly tripping his master on the stairs. The man becomes enraged. He picks up an ax, meaning to murder the animal, but when his wife grabs the handle to stop him, he pivots, killing her with a blow to the head. Rather than break down with remorse, the man hastily hides his wifes body by walling it up with bricks behind a false facade in the cellar. The cat thats been tormenting him seems to have disappeared. Relieved, he begins to think hes gotten away with his crime and all will finally be well–until the police eventually show up to search the house. They find nothing but as theyre headed up the cellar stairs preparing to leave, the narrator stops them, and with false bravado, he boasts how well the house is built, tapping on the wall thats hiding the body of his dead wife. From within comes a sound of unmistakable anguish. Upon hearing the cries, the authorities demolish the false wall, only to find the wifes corpse, and on top of it, the missing cat. I had walled the monster up within the tomb! he wails—not realizing that in fact, he and not the cat, is the actual villain of the story. Symbols Symbols are a key component of Poes dark tale, particularly the following ones. The black cat:  More than just the title character, the black cat is also an important symbol. Like the bad omen of legend, the narrator believes Pluto and his successor have led him down the path toward insanity and immorality.  Alcohol: While the narrator begins to view the black cat as an outward manifestation of everything the narrator views as evil and unholy, blaming the animal for all his woes, it is his addiction to drinking, more than anything else, that seems to be the true reason for the narrators mental decline.House and home: Home sweet home is supposed to be a place of safety and security, however, in this story, it becomes a dark and tragic place of madness and murder. The narrator kills his favorite pet, tries to kill its replacement, and goes on to kill his own wife. Even the relationships that should have been the central focus of his healthy and happy home fall victim to his deteriorating mental  state.  Prison: When the story opens, the narrator is physica lly in prison, however, his mind was already imprisoned by the shackles of madness, paranoia, and alcohol-induced delusions long before he was apprehended for his crimes.  The wife: The wife could have been a grounding force in the narrators life.  He describes her as having that humanity of feeling. Rather than saving him, or at least escaping with her own life, she becomes a horrible example of innocence betrayed. Loyal, faithful, and kind, she never leaves her husband no matter how low he sinks into the depths of depravity. Instead, it is he who is in a sense unfaithful to his marriage vows. His mistress, however, is not another woman, but rather his obsession with drinking and the inner demons his drinking unleashes as symbolically personified by the black cat. He forsakes the woman he loves—and eventually kills her because he cant break the hold of his destructive obsession. Major Themes Love and hate are two key themes in the story.  The narrator at first loves his pets and his wife, but as madness takes hold of him, he comes to loathe or dismiss everything that should be of the utmost importance to him. Other major themes include: Justice and truth:  The narrator tries to hide the truth by walling up his wifes body but the voice of the black cat helps bring him to justice.Superstition:  The black cat is an omen of bad luck, a theme that runs throughout literature.  Murder and death:  Death is the central focus of the entire story. The question is what causes the narrator to become a killer.Illusion versus reality:  Does the alcohol release the narrators inner demons, or is it merely an excuse for his horrendous acts of violence? Is the black cat merely a cat, or something embued with a greater power to bring about justice or exact revenge?Loyalty perverted: A pet is often seen as a loyal and faithful partner in life but the escalating hallucinations the narrator experiences propel him into murderous rages, first with Pluto and then with the cat the replaces him. The pets he once held in highest affection become the thing he most loathes. As the mans sanity unravels, his wife, whom he also purports to love, becomes someone who merely inhabits his home rather than shares his life. She ceases to be a real person, and when she does, she is expendable. When she dies, rather than feel the horror of killing someone he cares for, the mans first response is to hide the evidence of his crime. Key Quotes Poes use of language enhance the storys chilling impact. His stark prose is  the reason this and other of his tales have endured. Key quotes from Poes work echo its themes. On reality vs. illusion: For the  most wild, yet most homely narrative which I am about to pen, I neither expect nor solicit belief.   On loyalty: There is something in the unselfish and self-sacrificing love of a brute, which goes directly to the heart of him who has had frequent occasion to test the paltry friendship and gossamer fidelity of mere Man.   On superstition: In speaking of his intelligence, my wife, who at heart was not a little tinctured with superstition, made frequent allusion to the ancient popular notion, which regarded all black cats as witches in disguise.   On alcoholism: ...my disease grew upon me—for what disease is like Alcohol!—and at  length  even Pluto, who was now becoming old, and consequently somewhat peevish—even Pluto began to experience the effects of my ill temper.   On transformation and descent into insanity: I knew myself no longer. My original soul seemed, at once, to take its flight from my body; and a more than fiendish malevolence, gin-nurtured, thrilled every fiber of my frame.   On murder: This spirit of perverseness, I say, came to my final overthrow. It was this unfathomable longing of the soul to vex itself—to offer violence to its own nature—to do wrong for the wrongs sake only—that urged me to continue and finally to consummate the injury I had inflicted upon the unoffending brute.   On evil: Beneath the pressure of torments such as these, the feeble remnant of the good within me succumbed. Evil thoughts became my sole intimates—the darkest and most evil of thoughts.   Questions for Study and Discussion Once students have read The Black Cat, teachers can use the following questions to spark discussion or as the basis for an exam or written assignment: Why do you think Poe chose The Black Cat as the title for this story?What are the major conflicts? What types of conflict (physical, moral, intellectual, or emotional) do you see in this story?What does Poe do to reveal character in the story?What are some themes in the story?How does Poe employ symbolism?Is the narrator consistent in his actions? Is he a fully developed character?Do you find the narrator likable? Would you want to meet him?Do you find the narrator reliable? Do you trust what he says to be true?How would you describe the narrators relationship with animals? How does it differ from his relationships with people?Does the story end the way you expected it to?What is the central  purpose of the story? Why is this purpose important or meaningful?Why is the story usually considered a work of horror literature?Would you consider this appropriate reading for Halloween?How essential is setting to the story? Could the story have taken place anywhere else?What are some of the controversial elements of the story? Were they necessary?What is the role of women in the text?Would you recommend this story to a friend?If Poe had not ended the story as he did, what do you think might have happened next?How have views on alcoholism, superstition, and insanity changed since this story was written?How might a modern writer approach a similar story?

The Mapp Vs. Ohio Court Case - 1085 Words

The Mapp vs. Ohio court case took place in Cleveland Ohio when Dollree Mapp was unlawfully convicted of a felony. On May 23, 1957 at 1:00 P.M., Police appeared at the door of Dollree, who was currently living with her daughter from a previous marriage, and demanded entrance. They believed that she was housing a bombing suspect within her home and that she was part of a gambling crew. Due to the 4th amendment â€Å"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized† (US Const. amend. IV), she demanded to see the warrant and until then they were not allowed entrance. The fourth amendment requires for a search to occur or seizing of possessions, they only can do that to certain aspect is what the warran t initial was for. For the next two and a half hours, the police laid siege to the house. Her lawyer appeared on the scene, and one of the policemen told him that they now had obtained a warrant to search the house, but refused to show it (Exclusionary Rule). The officers then forced their way into the house by knocking their doors down and she demanded to see the warrant. Flashing a piece of paper in the air, she snatched it from the police officer and and shoved it down her blouse in a defiant manner.Show MoreRelatedCase Summary: Supreme Court Decision in Mapp vs. Ohio703 Words   |  3 Pagesexplore the landmark Supreme Court decision Mapp v. Ohio. It is the purpose of the essay to examine the facts of the controversy, the arguments offered by the petitioner, and discuss as well the Supreme Courts ruling and its possible impact on precedent. The analysis will conclude with my commentary and opinion in regard to the Mapp decision. In May of 1957, police officers in Cleveland Ohio went to the home of Dollree Mapp in search of a suspect in a bombing case (the police were also seekingRead MoreTrial No Search Warrant And Possession Of Obscene Literature Criminal Essay800 Words   |  4 PagesFacts of the Case: Three officers suspected Dollree Mapp of harboring a bombing suspect and went to her house. Upon arrival, Mapp refused to let them enter her home without a search warrant. Police produced what seemed to be a search warrant and searched the premises. No bombing suspect was found however, police found obscene literature on the premises. At the time Ohio had a statute that made the possession of obscene literature criminal. Mapp was arrested for possessing obscene pictures, afterRead MoreMapp Vs. Ohio.1355 Words   |  6 Pages Mapp vs. Ohio Before the Supreme Court case of Mapp vs. Ohio in 1960, the states were able to interpret the Fourth Amendment of the Constitution, which covers the search and seizure of individuals and their property. Interpretation caused the states to disagree on what was justifiable search and seizure according to the constitution. Under the Fourth Amendment, a court issued warrant along with probable cause was required for search and seizures. The states all had different opinions of the definitionRead MoreMapp vs Ohio Essay1362 Words   |  6 PagesOn May 23rd 1957, three police officers representing Cleveland Ohio came to the door of Miss Mapp’s residence with the suspicion of a bombing suspect hiding out in her home. Miss Mapp and her daughter lived in a two family two story home. Upon their arrival at the house the police knocked on the door and demanded entrance from Miss Mapp. However Miss Mapp didn’t open the door and instead asked them to provide a search warrant after she called her attorney. The officers advised their headquartersRead More Mapp vs. Ohio: Illegal Search and Seizure Essay1178 Words   |  5 PagesMapp vs. Ohio: Illegal Search and Seizure The case of Mapp vs. Ohio is one of the most important Supreme Court decisions of the last century. Until this decision, the rights against illegal search and seizure had no method to be enforced. Up until this time, previous cases at set precedents provided little or no protection from illegal searches and seizures for the accused facing state prosecution. On May 23, 1957, Miss Dollree Mapp heard a knocking at her door (170 Ohio Street). When sheRead MoreThe Trial No Search Warrant1049 Words   |  5 PagesFacts of the Case: Mapp was arrested for possessing obscene pictures, after police illegally obtained them. At the time Ohio had a statute that made the possession of obscene literature criminal. At Mapp’s trial no search warrant was admitted into evidence, however she was still convicted. The Court citing Wolf vs Colorado found that evidence obtained from an unlawful search and seizure is admissible in criminal prosecution. On appeal, the Supreme Court of the United States reversed the judgmentRead MoreCrj: 201 Law Enforcement Essay877 Words   |  4 Pagesviolates the law in which it enforces it creates mayhem and they lose the trust of the people. By obeying the laws just like the rest of the United States, they gain the social legitimacy that is needed in communities. Weeks Vs. United States Weeks. Vs. 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Sarbanes-Oxley Act Acc 403- Auditing Free Essays

SARBANES-OXLEY ACT ACC 403- AUDITING PROFESSOR August 19, 2012 The Sarbanes-Oxley Act was placed into effect July 2002; the act introduced major changes to the regulation of corporate governance and financial practice. The Sarbanes-Oxley Act was named after Senator Paul Sarbanes and Representative Michael Oxley, who were the main architects that set a number of non-negotiable deadlines for compliance. The organization for Economic Cooperation and Development was one of the first non- government organizations to spell out the principles that should govern the corporate and issued the OECD Principles of Corporate Governance. We will write a custom essay sample on Sarbanes-Oxley Act Acc 403- Auditing or any similar topic only for you Order Now The Sarbanes Oxley Act also known as Public Company Accounting Reform and Information Protection Act and Corporate and Auditing Accountability and Responsibility Act. It is a federal law that set various principles for all the U. S. companies to detect and evade fraud. It detects the scandals in the securities markets when the share prices of securities are affected. The act requires the Securities and Exchange Commission to implement rulings on requirements to comply with the law. It created a new agency called Public Company Accounting Oversight Board which regulates, oversees and inspects the role of auditors of public companies. The act covers auditor’s independence, corporate governance, internal control assessment and financial disclosures. The Sarbanes–Oxley contains 11 titles that describe specific mandates and requirements for financial reporting. Each title consists of several sections, which are the following below: I. Public Company Accounting Oversight Board (PCAOB): provides independent oversight of public accounting firms providing audit services and creates a central oversight board tasked with registering auditors. II. Auditors Independence: establishes standards for external auditor independence to limit conflicts of interest and states new auditor approval requirements, audit partner rotation, and auditor reporting requirements. III. Corporate Responsibility: mandates that senior executives take  individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. IV. Enhanced Financial Disclosure: describes enhanced reporting requirements for financial transactions, including off-balance-sheet transactions, pro-forma figures and stock transactions of corporate officers. It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. V. Analyst Conflict of Interest: includes measures designed to help restore investor confidence in the reporting of securities analysts. It defines the codes of conduct for securities analysts and requires disclosure of knowable conflicts of interest. VI. Commission Resources and Authority: defines practices to restore investor confidence in securities analysts, and defines the SEC’s authority to censure or bar securities professionals from practice and defines conditions under which a person can be barred from practicing as a broker, advisor, or dealer. VII. Studies and Reports: requires the Comptroller General and the SEC to perform various studies and report their findings. Studies and reports include the effects of consolidation of public accounting firms, the role of credit rating agencies in the operation of securities markets, securities violations and enforcement actions. VIII. Corporate and Criminal Fraud Responsibility: It describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers. IX. White Collar Crime Penalty Enhancement: It recommends stronger sentencing guidelines and specifically adds failure to certify corporate financial reports as a criminal offense. X. Corporate Tax Returns: Section 1001 states that the Chief Executive Officer should sign the company tax return. XI. Corporate Fraud Responsibility: It identifies corporate fraud and records tampering as criminal offenses and joins those offenses to specific penalties. It also revises sentencing guidelines and strengthens their penalties. Prior to Sarbanes Oxley act, auditing firms were self regulatory. It may happen several times that challenging the counts of the companies damage the relationship with the clients. The frauds of the companies cannot be detected easily. There are many risks associated with the auditing report since it will not be able to report the actual position of the companies. The Sarbanes Oxley act states that it shall be unlawful to contravenes the provisions of the commission because it is not in the public interest or it is unprotected for investors, for any other person to take any action to fraudulently influence, manipulate, coerce and mislead any independent person in the performance of preparing the audit report of the financial statements of any concern. The most important aspect in the financial statement is to follow and regulate the internal control system of the organization. This is the most important point in this act as it detects that the internal control system of the corporations is sound or not. It wants to report about the internal control system of the organization so that the actual picture of the organization can be reflected easily in front of the members of the companies and the investors. Since the main motto of Sarbanes Oxley act is to protect the investors it has to report about the internal weakness and strengths of the companies to give a true picture of the company. It requires management to report the following points: * The operating effectiveness of internal control related to the significant accounts which affects the materiality of the account or from which the material misstatement risks can be occurred. * The flow of transactions so that it should be understood that whether there is any material misstatement could arise or not. * Evaluate the control of the company to record the components of COSO framework. * Perform the fraud r isk assessment of the organizations. * Evaluate the control performance to detect and evade the errors. * Evaluate the control performance to detect and evade the fraud. Evaluate the work of the management to ensure that whether they consider the basic elements like objectivity, competency and risks. * Evaluate the internal control over financial reporting. * Evaluate the size and complexity of the company. The findings of Sarbanes Oxley act incorporate a code of Best Practices on Director’s Remuneration. The four main issues which were dealt with as follows: * The role of Remuneration Committee in setting the remuneration packages for the CEO and other directors. * The required level of isclosure needed to shareholders regarding details of director’s remuneration and whether there is the need to obtain shareholder approval. * Specific guidelines for determining a remuneration policy for directors and * Service contracts and provisions binding the Company to pay compen sation to a director, particularly in the event of dismissal for unsatisfactory performance. The important recommendation was the establishment of Remuneration Committee of Non- Executive Directors which would be responsible for deciding the remuneration of executive directors. The majority of the recommendations of the committee were incorporated in the Listing Rules of the London Stock Exchange. The principles of corporate governance are evolved as under: * Sustainable development of all the stakeholders- it ensures the growth of all the individuals associated with or effected by the enterprise on sustainable basis. * Effective management and distribution of wealth- it ensures that enterprise creates maximum wealth and judiciously uses the wealth so created for providing maximum benefits to all the stakeholders and enhancing its wealth creation capabilities to maintain sustainability. Discharge of social responsibility- it ensures that enterprise is acceptable to the society in which it is functioning. * Application of best management practices- it ensures excellence in functioning of enterprise and optimum creation of wealth on sustainable basis. * Compliance of law in letter and spirit- it ensures value enhancement for all stakeholders guaranteed by the law for maintaining socio-economic balance. * Adherence to ethical standards—it ensures integrity, transparency, independence and accountability in dealings with all stakeholders. The Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises has issued Guidelines on Corporate Governance for Central Public Sector Enterprises. For the purpose of evolving Guidelines on corporate governance, Central Public Sector Enterprises have been categorized into two groups, namely – 1. Those listed in the stock exchange and 2. Those not listed in the stock exchange. Some claim that the financial activities of publicly traded companies are still severely nder-regulated while others hold that SOX was necessary, but that some of its requirements are not cost-effective which I believe will change over time. Reference * Arens, A. , Elder, R. J. , Beasley, M. (2010). ACCT 403: Auditing and assurance services: 2010 custom edition (14th ed. ). Upper Saddle River, NJ: Pearson Education. * http://www. soxlaw. com/ * http://searchcio. techtarget. com/definition/Sarbanes-Oxley-Act * http://www. sec. gov/about/laws. shtml * http://www. sec. gov/news/te stimony/090903tswhd. htm * http://www. sox-online. com/basics. html How to cite Sarbanes-Oxley Act Acc 403- Auditing, Essay examples

Nonconformists In Guest Laundry Department â€Myassignmenthelp.Com

Question: Discuss About The Nonconformists In Guest Laundry Department? Answer: Introducation Chief Engineer, I am an executive housekeeper working in resort operation and I would like to inform you about the recently developed nonconformities in the guest laundries. Due to the damage of flatwork ironer belt, ironing of bed sheets are not being done properly. Additionally, there are faults in 18 kg dryer and 34 kg dryer. The machines cannot be fully loaded with clothing items. No spares are available for these parts and therefore heavy items like bed sheets and covers cannot be dried up easily. Shock absorbers for 18 kg and 54 kg washer are not working properly and losing their balance after receiving error reports (Czech, 2017). From May, one of the air pressure gauges of the guest laundry tagging machine has been damaged and the laundry staffs cannot follow the safety protocols which are increasing risk factors (Consumer Reports, 2017). Finally, using an old chemical controller is another issue of guest dissatisfaction and the reason is the absence of new chemical controller. I am looking forward to your expert opinions and suggestions in these matters. Kindly acknowledge this mail. References Consumer Reports. (2017).Yes, Your Washing Machine Is Using Enough Water. [online] Available at: https://www.consumerreports.org/washing-machines/yes-your-washing-machine-is-using-enough-water/ [Accessed 12 Sep. 2017]. Czech, T. (2017).Malfunctioning dryer to blame for Lower Windsor fire. [online] The York Daily Record. Available at: https://www.ydr.com/story/news/2017/05/07/malfunctioning-dryer-blame-lower-windsor-fire/101409010/ [Accessed 12 Sep. 2017].