The Courtroom Scene Essay Example for Free

The Courtroom Scene EssayThe Crucible was written at the peak of the McCarthism era in the mid 20th century. The play was written by Arthur Miller to show the similarities between The McCarthy Trials and the Salem Witch Trials. This links well to the Crucible.The play is about a group of girls who are caught in the woods performing witch- same actions. The girls turn against everyone and start accusing people of being witches. This immediately creates tautness.In this essay, I am departure to answer the question How does Miller create tension in Act III, The Courtroom Scene? He creates tension in a number of focusings. These ways are stage directions, flushts, language and friction between characters.Firstly, Arthur Miller uses stage directions to create tension in Act III. A particular example of this is when treat monitoring device is intensely questioned for the truth of her husbands routine. The stage direction In a crisis of indecision, she cannot speak. This shows how she is lacerated between covering up for her husband or telling the truth. The state of affairs that is so thrilling is that if she lies, she will of helped Abigail, as Abigail would be able to carry on with her mischievous doings. And if she tells the truth then Abigail would be found guilty of hypocrisy and false accusations.The direction builds tension, as the audience already know that John Proctor has confessed to the affair with Abigail, and Goody Proctor doesnt know this.Secondly. Miller creates tension by using events in Act III. The best example of this is on page 101, when Abigail and her girl friends are pretending that bloody shame Warren has convoked her spirit onto them. This is shown when Abigail says why ? why do you come, yellow bird?We as the audience automatically tincture tension as we know Abigail and the girls are making all these alleged allegations up. We feel sorry for bloody shame Warren, as now she is being portrayed as an evil person. John Proctor is the only person who believes Mary Warren and does compute Abigail and the girls are lying. He shows his feelings by saying Theyre pretending, Mr Danforth This creates tension as we feel that Proctor and Mary Warren are helpless. Proctor needs to help Mary Warren, as Goody Proctor will be persecuted if Abigail and the girls are not brought to justice.Another event that takes place and creates tension is on page 104/105. This piece of tension links well to the last piece. The even is that after all of the commotion and lying from Abigail and the girls of Mary Warren summoning a spirit. Mary apologises for sending the spirit, even though it was a lie. This automatically creates tension as the audience are dumfounded by what Mary is doing. She is now covering up for the girls. So they dont learn the blame. When she says sorry. Abigail hugs her and they seem to be friends again. This leaves the judges baffled. This creates tension in a different way as well because Proctor is all a lone now. The only way to save his married woman is Mary Warren telling the truth, now she has turned against him. The audience feel sorry for Proctor, who should know by now that he and his wife are going to be persecuted.Thirdly, Arthur Miller creates tension by using friction between characters in Act III. There are two polished examples of this. Firstly, Mary Warren explains to the court of how Proctor wakes her up at night and says how they should over throw the court to save this wife. This friction is huge because just in advance Mary Warren states this the court, Mary and Proctor where helping each other. Mary and Proctor were helping each other. This creates tension because Proctor was left by Mary when she said sorry to Abigail for summoning her spirit, and now Mary has made allegation against Proctor. Nothing more could go wrong for him.Mary goes on to say that Proctor has threatened her as well. Ill murder you, he says, if my wife hangs Thus creates tension as Mary and Proctor were friends but now he is sullen her. The audience feel an agonising heart-break for Proctor, yet feel he shouldnt of threatened Mary. The friction has built up again. Secondly, on page 105, Proctor says that his and Danforths faces are like the devils. Proctor says, I see his filthy face And it is mine and your Danforth It creates friction because Danforth is appalled that Proctor could relate him to the devil. Between these too character there has ever been friction because Proctor believes the girls are lying, whereas Danforth doesnt. When Proctor says this he means that Danforth has the face of the devil for allowing all of these false accusation to happen. Proctor has the face of the devil because he had the affair with Abigail, which sparked the whole event.Lastly, language in The Crucible creates tension. An example o this is on page 98, when John Proctor admits he lusted for Abigail and tells the truth about the affair and how Abigail is trying to get revenge. Th e line is She thinks to dance with me on my wifes grave This language is difficult for the audience to understand, as it is old English. This creates tension because it could mean different things and as the audience doesnt know what it means, it lets imaginations come out and start to think what he means.To conclude Arthur Miller uses and creates tension to a full effect and pulls it off with capacious strength. The tension was good and easy to create as he used four main elements, stage directions, events, frictions between characters and language.

Role of Port Authorities Essay Example for Free

Role of Port Authorities EssayPorts usually have a governing body referred to as the air authority, port focus, or port administration. Port authority is used widely to indicate any of these three terms. The translation of port authority has been defined in various ways. In 1977, a commission of the European Union (EU) defined a port authority as a State, Municipal, public, or private body, which is largely responsible for the tasks of construction, administration and sometimes the operation of port facilities and, in certain circumstances, for security. This definition is sufficiently broad to agree the various port management models existing within the EU and elsewhere. (http//www.ppiaf.org/sites/ppiaf.org/files/documents/toolkits/Portoolkit/Toolkit/module3/port_functions.html2)Ports authorities may be established at all levels of government subject area, regional, provincial, or local. The well-nigh gross blueprint is a local port authority, an authority administering only one port area. However, national port authorities still exist in various countries such as Tanzania, Sri Lanka, Nigeria, and Aruba. The United Nations Conference on Trade and Development (UNCTAD) Handbook for Port Planners in Developing Countries lists the statutory powers of a national port authority as follows (on the assumption that operational decisions will be taken locally) (http//www.uctc.net/research/diss131.pdf) * Investment major power to approve proposals for port coronations in amounts supra a certain figure. The criterion for approval would be that the proposal was broadly in accordance with a national plan, which the authority would maintain.* Financial policy Power to set common financial objectives for ports (for example, required return on investment defined on a common basis), with a common policy on what al-Qaida will be funded centrally versus locally, and advising the government on loan applications. * Tariff policy Power to regulate rates and charges a s required protect the public interest. * Labour policy Power to set common recruitment standards, a common wage structure, and common qualifications for promotion and the power to approve common labour union procedures. * Licensing When appropriate, power to establish principles for licensing of port employees or agents.* Information and research Power to collect, collates, analyze, and disseminate statistical information on port natural process for general use, and to sponsor research into port matters as required. * Legal Power to act as legal advisor to local port authorities. Increasingly, central governments enforce oasis policies through the allocation of resources rather than through the exercise of wide-ranging regulatory powers.While central governments should pursue macroeconomic objectives through an active seaport policy, port authority objectives should be more narrowly focused on port finances and operations. It is a widely accepted opinion among port specialists th at a port authority should have as a principal objective the full recovery of all port-related cost, including capital costs, plus an adequate return on capital. The full recovery of costs will help a port authority to (http//www.businessnz.co.nz/file/1947/100813%20Port%20Performance%20and%20Ownership.pdf) * Maintain internal cost discipline.* Attract outside investment and establish secure long-term cash flows. * Stimulate innovation in the various functional areas to guarantee a long-term balance between costs and revenues, especially when faced with innovations by terminal operators, port users, rival ports, and hinterland operators. * Generate internal cash flows needed to replace and expand port infrastructure and superstructure.* Compete according to the rules of the market system, without excessive distortions of competition. * Put limits on cross-subsidization, which may be rational from a marketing point of view (market penetration, traffic attraction), however which can u ndermine financial performance. * Avoid dissipation of the port authorities asset base to satisfy objectives of third parties (for example, port users demanding the use of land in the port area without regard to the lands most economic use or port and city administrations using port authority assets to pursue general city goals).Ownership of the Port of KoperThe port of Koper is the largest and the only public cargo port in the Republic of Slovenia. The self-possession transformation of the port of Koper was finalized in 1995. Before the ownership transformation, the government of the Republic of Slovenie brought a decree that the shores, land and water territory around the port are also a public asset in the sense of state ownership. The value of the port infrastructure was set at the amount of USD 180 million.A part of the port infrastructure was defined as infrastructural bases, and they included* Haulage roads,* Railroad tracks,* Entryways,* Partitions,* Sewage* Water supply s ystems,* Electric power facilities,* Lighting and telecommunication facilitiesThe mentioned part of the port infrastructure, the port superstructure, machinery and other assets were evaluated in 1995 in the amount of USD 220 million. The total capital was divided into 14,000,000 shares at a nominal value of Sit. 1000. The Republic of Slovenia is the owner of 6,860,000 shares, which is a 49% ownership in priority shares and 2% in mediocre shares. The ownership structure of the Port of Koper 51% the state, 17.33% government funds, 7.65% municipality of Koper, 7.48% internal distribution to employees and pensioners, 10.20% internal buyout from employees and pensioners, 6.34% public sale.In appendage to shares in ownership of the state, the Port of Koper deals with shares on the Ljubljana stock market, hence its ownership structure is subject to daily changes The state has decided to sell its share in the ownership of the Luka Koper d. d. in 2003. During the transitional period the s tate, with its 49% ownership has decreased its ownership share down to 25% + 1% but in the form of ordinary shares, which enables it to gain control of functions connected to certain more important business decisions that are in close association with status changes of the enterprise.Luka Koper d. d. is the manager of the port. On Nov. 21,2002 a Decree was issued according to which the Government Administration allocated concessions, and the decision was reached that the first concession be given to enterprise Luka Koper d. d. for a period of 35 years. Luka Koper d. d. does non have Port Authority in the classical sense of the term.According to the Statute of the Luka Koper d. d., the enterprise has a single-member management supervised by a supervisory board of 9 members in the structure of which there are three representatives of the state, a representative of the local administration of the municipality of Koper that is itself a 7% owner of ordinary shares, a member representing small shareholders, a representative of the funds that the Luka Koper d. d. holds in its portfolio and three representatives of the employees of LukaKoper d. d. Such a structure of the supervisory board that chooses the president of the management of the joint stock company does not allow the predominance of state power over the management of the port. The state has minimal rights in bringing decisions on occasion of shareholder assemblies of the enterprise Luka Koper d. d, with merely 2% of votes.From this we may assess that the autonomy of port management in the Luka Koper d. d. is very high.Managerial responsibility of the port ofKoperLukaKoper d. d., as the sole port operator manages the entire port. The Management of the enterprise Luka Koper d. d. has complete freedom in conducting its economic policies, policy of superstructure development, and the right of bringing forrad a medium- term plan of development of the port infrastructure that is previously acknowledged by the G overnment of the RS. The port management is also responsible for victuals of the port infrastructure. The Port of Koper can be evaluated as a Full service port.

Copper Recovery Methods From Metallurgical Waste

Copper Rec overy Methods From Metallurgical WasteREVIEW OF COPPER recuperation METHODS FROM METALLURGICAL WASTEApurva Patel, Prof. Nimish ShahAbstract Copper is one of the most employ metals in recent developments and demand of this red metal is change magnitude with passing of to each one day. Production of hair is 12 million tons per year and bruiser reserves ar expected to run for 25 years with the estimated world fuzz reserves of 300 million tons. Recovery of copper from metallurgical waste is a trend that is being followed from beginning of industrial age and has many developments over a vast time frame. Out of all the copper used in existing process, 2 million tons of copper is utilized with cycle of copper waste. Copper ore reserve contri yetion of India is limited and extended up to 2 percent of world reserve. We substructure say that copper has a large amount at our reserves but excavation is not as simple as it seems. Copper theme in the raw mines is ranging fro m 0.5 to 1 percent. all the same after recuperation of copper there is large waste generated at the end of the process. Copper content in the waste is up to 0.3 percent at the discharge. Ultimately around hundred times of waste is generated for healy of one part of copper. That pushes forward the need of recycling copper from metallurgical waste to allow for the need of increasing copper demand. Copper recovery from high copper containing metallurgical wastes like brass industries are generally dealt with smelting process. In such expression large amount of energy is utilized to just melt down all the material. This process has a limitation of copper content i.e. if copper content is low then all the energy is utilized in melting of undesired material. Demand for electroplating of copper has increased significantly. Low efficiency or unseasonable process handling causes remarkably high copper content in waste discharge, which is over the range of discharge criteria of heavy me tals. So to control the increasing price of metals and to limit the use of fresh copper, recycling must be done so the recovery from waste as well gives the advantage of being in range of the allowable government legislations. Though these hazardous heavy metals in electroplating waste having concentration high enough to give harmful impacts to environs but convincingly low concentration that is not enough to recover these metals effectively. In this paper, overview of distinguishable methods for copper recovery is illustrated and justified the selection of different methods over different copper content of various sources.Keywords Copper extraction, Copper recovery, Electroplating, Recycling,I. INTRODUCTIONIncreasing demand of copper gives elevated chances for generating copper waste from different industries. There are thousands number of industries existing which includes utilization or processing of copper. In this paper, review of several most copper containing waste and mos t optimum copper recovery methods are described. Waste source is targeted which gives better possibilities of copper recovery and ease of operation. Several metallurgical source like brass slag, copper convertor slag, electroplating waste, bonze junk and pickling solution is included in the study.II. Copper recovery from Copper slagThere are different verities of slag produced from smelters for non-ferrous production. Major emphasis is given to copper slag as it has equal to or higher copper content compared to raw copper ore. Generation and utilization of copper slag has higher environment impacts compared to steel and iron slag as they contain remarkable quantity of heavy metals with higher solubility. chemical substance composition of copper slag varies with different origins. Chemical composition is given as per Shen Forssberg, 20031 in table 1.TABLE IChemical composition of copper slagThere are specific tierce methods to recover copper from copper slag Floatation, Leaching and RoastingFloatationBarnes (1993) 2 has given industrial floatation process at Mount Isa Mines Limited to recover copper from copper slag. Grinding operation is applied until obtain the granular size of 80%- 74 m before floatation. Floatation is also workable for magnetite present in the raw copper slag, so hydroxy ethyl cellulose is used in the process as a depressant of magnetite impurities. MIBC is used in the process as froather agent and sodium sec-butyl xanthate is used as a collector of copper from the waste. The result of this process gives concentrate anatomy copper with high percentage as 42.54%. Overall yield of such process is 82%. This try out is observed for copper slag containing 3.7% copper. In this experiment most of Co is observed with floatation tail.Mainly, copper slag floatation is somewhat similar with sulfide ore floatation because of the fact that only metallic copper and sulfide minerals from the copper slag can only be effectively floated. In other sla g copper is usually observed under oxide give tongue to and Co and Ni are also in oxide state because of its homogeneous distribution in the slag. So the stated method will not be utilized effectively with Co, Ni and oxide copper state. Therefore the span for the floatation process is reduced in size as less quantity of Co, Ni must be present in the slag or copper must not be in the form of oxide.LeachingLeaching is used with some leachants mainly hydrochloric acid, ferric chloride, ammonia, sulphuric acid etc. Basire at al anand at all 3. In the initial era cyanide was also used but it was terminated because of its harmful effects to environment. Leaching is positively influenced by addition of H2O2, or leaching with Cl2/Cl system, or pressure leaching. go in 1 shows effect of H2O2 on leaching of copper based on the experiments of Base metal recovery 4Figure 1. Kinetics of copper recovery represent showing metal recovery with highly oxidising agent like H2SO4 for copper slag. Ex periment is carried out with 10% solid in solution and particle size less than 100 m. Experiment is carried out at 70 oC and pH maintained at 2.5 with applied H2O2 at 35 L/(h.t)Pressure leaching has broadly described by anand et al 4. Study shows that with pressure leaching and use of dilute H2SO4 recovery of copper about 90% achieved from copper converter slag from the initial concentration of 4.03% Cu.RoastingRoasting is actually one intermediate step which involves the process for converting the copper in desired form that can be easily separated from the raw material. After application of roasting, Leaching or floatation must be used to achieve desired separation. If we peg down down the process criteria then we can say a lot more specific term as sulfate roasting instead of roasting. In this process conversion of cupper cobalt ant nickel is taking place and transformed into more feasible water-soluble sulfates. Raw material is touch on at 200-600 oC by addition of sulfide or sulfate agents. Then these soluble sulfates are dissolved in water and easily separated from slag. whatsoever of the agents used in the process are, (NH3)SO4, H2SO4, H2S, pyrite etc. Sulfurization reactions are summarized as bellow.Cu2O + H2S = Cu2S + H2O (1)2Cu + H2S + O2 = Cu2S + H2O (2)Sulfides of copper are then easily converted to soluble copper sulfate with roasting at 600oC. Ziyadanogullari used this method to treat copper slag containing 2.4% copper. By sulfurization in closed system with 140oC for 1 minute and then heating and roasting with 600oC for 360 minutes gives better result for recovery of copper up to 99.2%.SCHEMCON-20141 Page

The Role of External Auditors in Accounting

The Role of External Auditors in AccountingIntroductionAuditor liability has always been one of the main concerns of the humanity. Often fall under common equity, tort law or some(prenominal), public liability claims bunghole arise out of unfair or unjust practices when it stick withs to auditing a go withs monetary standing (Lambe, 2007). The listeners brush aside be held liable for approving a fraudulent account on behalf of a handicraft organisation.Auditor liability, or failure to descry and write up illegal utilizations of financial tales, could lead to serious damages for the sh beholders of the compevery (Schaefer, 2004). In most fountains, a fraudulent act exists when one or to a greater extent auditors, on behalf of a company, approve inaccurate accounting for the reason of tax evasion or to strategically register for an Initial Public Offering (IPO).To celebrate moral hazard associated with auditor liability, the British Serious Fraud Office has imposed hea vy penalties on swindlers and white collar criminals in order to fold down or suspend suspicious championshipes (Country Updates, 1997). On the other hand, auditors who are found guilty of professional negligence may end up face a monetary loss or penalty through punitive fines and/or the confiscation of their licence to practise in the United Kingdom. fit in to Priddy (2011, p. 59), as stated by Michael Power of the London School of Economics, it was non reasonable to expect auditors to be challenging pedigree models and raising strategic issues with finance directors, because that was non their job and if we want it to be their job, then things would piss to change quite substantially The direction of my comment is that we might be expecting too much from this wispy box External Audit in terms of what it existingly delivers.In response to Powers statement, this report will first discuss the roles and responsibilities of remote auditors and then provide a drawing overvie w of collective governance. In line with this, there is a strong need to go through some stage chore theories and concepts that will enable readers to absorb a better understanding of how businesses function in the incarnate world. Based on the individual offices and duties of shareholders, internal and external auditors, the board of directors, and the Chief Executive Officer (CEO), this report will explain the limitations of the roles and responsibilities of external auditors when it comes to detecting and imperious fraudulent business activities.Roles and Responsibilities of External AuditorsExternal auditors are professionals who are hired to conduct audits based on the rules or laws on creating financial statements for the government, a private company, or a legal organisation (The Institute of Internal Auditors, 2011). According to Kwok (2005, pp. 151-161), accounting irregularities can be made for the purpose of tax evasion or theft, for instance, creating ghost employe es, skimming from the proceeds, or stealing an asset. Specifically in the United Kingdom, Chartered Accountants and Certified oecumenic Accountants are the groups of individuals who are qualified to conduct external auditing.According to Poorter (2008), auditors practising at bottom the United Kingdom have to perform a special job of safekeeping towards a liable third caller. This means that external auditors are made responsible for the fair, just and reasonable treatment of the companys external shareholders. In case of a binding bring down between the company and its shareholders, it is a general rule for the external auditor(s) to fulfil his or her statutory duty as an auditor to shareholders collectively.As a standard operating procedure, external auditors are anticipate to evaluate the financial statement of an organisation on a yearly basis (Hicks and guck 2008, p. 261). Upon going through the financial statement of a government, a private company, or a legal organisa tion, external auditors are expected to come up with a professional opinion regarding the financial statement presented to them by the organisation (Kwok 2005, p. 178). Correspondingly, external audit committees are expected to settle whether the accountants are able to adjust along with generally accepted accounting principles or whether they have made appropriate judgments, estimates, and complete disclosures in the financial statements (Hicks and Goo 2008, p. 259 Kwok 2005, p. 178). Given that the external auditors kick downstairs something inappropriate in the presented financial statement, they should report their complaints to the company to allow the board of directors to review.As part of entertaining the company and its shareholders, external auditors are expected to determine any possible damages that could result from the company owners major business endings. Considering that external auditors are liable to both the company for which they bring in and the sharehold ers of the company as a third party, external auditors should avoid coming up with a biased judgment by making use of their go around professional familiarity to protect the interests of everyone involved.Although internal and external auditors technically have the same roles and responsibilities when it comes to auditing a financial statement, an important difference between the two is that an external auditor is an individual party outside the organisation being audited (The Institute of Internal Auditors, 2011). Another difference between internal and external auditors is that the general public, large groups of investors, and government agencies have the tendency to rely more on the audit report coming from the external auditors than the report presented to them by the internal auditors.Brief Overview with regards to Corporate GovernanceAccording to Colley et al. (2005), corporate governance refers to a system of authoritative direction or government which carefully examines the individual roles and responsibilities of the business owners, the shareholders, the board of directors ( administrator and non-executive), the CEO, and accountants. Since corporate governance is smooth of both neutral and objective corporate value (Solomon 2007, p. 4 Haller and Shore 2005, p. 18), a lot of people consider good corporate governance as an acceptable model of business ethics and a moral duty on the part of a corporations executives and board of directors.Board of DirectorsAguilera et al. (2008) revealed that corporate governance is ofttimes considered as the basis for making policy for a business organisation in relation to the actual structure of the board, the activism of the shareholders, and overall business performance. With regards to organisational policies and procedures, the board of directors within a business organisation has a significant role to play when it comes to successfully implementing corporate governance (Nordberg, 2007 Kim and Nofsinger 2006 , p. 41). For this reason, the members of the board are required not moreover to carefully analyse the corporate financial report, but also to meet regularly to discuss the proposed strategic plans and issues that will significantly affect the success of the business (Solomon 2007, p. 103).Executive and Non-Executive DirectorsThe board of directors is composed of executive and non-executive directors. As part of strengthening corporate governance, the companys board of directors is given responsibility for making important decisions in the best interests of the company and its shareholders (Mallin 2007, p. one hundred twenty-five).Aside from determining corporate goals, developing strategic plans that will enable the business to meet those corporate goals, and implementing organisational policies to meet the businesss objectives (Mallin 2007, p. 124 Kim and Nofsinger 2006, p. 41), the board of directors is responsible for controlling operations, making decisions for resource acqui sitions, and driving improvements in the quality of service (Carpenter, 1988 Pfeffer and Salancik, 1978). Since not all of the members of the board are directly or actively engaged in the daily business operations of a company, readers should be aware of some crucial distinctions between the roles and responsibilities of executive and non-executive directors with regards to corporate governance.It is common business knowledge that the executive directors are the ones who are directly involved in the daily business legal proceeding that occur within and outside of the company, whereas the non-executive or outside directors are not. disdain the differences between the responsibilities of executive and non-executive directors, the Commission has publicly announced under the Action Plan Modernisation of company law and enhancing corporate governance in the European Union that all of the board of directors (regardless of whether they are executive or non-executive) should at all times ensure their collective responsibility when it comes to monitoring the financial and non-financial entropy behind the corporation (Communication from the Commission to the Council and the European Parliament, 2003).Unlike the non-executive directors, the executive board of directors can easily access valuable business culture such as corporate financial statements. By accessing this information, executive directors are able to examine company records on daily sales and expenses and other major business transactions like public shares, loans and investments. In the process of going through the companys financial statements, executive shareholders should be on the lookout for any signs of unusual business action at law that could adversely affect the long-term operation of the business.Similar to the role of executive directors in corporate governance, it is the role and responsibility of the non-executive directors to reduce conflicting interests between the actual shareholders, t he executive board of directors, and the management team who works behind the company (Solomon 2007, p. 82 and 92). For this reason, Waldo (1985, p. 5) strongly suggests that the best way for the executive and non-executive directors to perform their duty effectively is to actually go through the companys business information, including the corporate financial statement.Even though the non-executive directors are inactive in terms of monitoring the daily operations of a company, several studies revealed that the non-executive directors are expected to strictly and regularly monitor the progress of the overall business, its legal and ethical performance, strategic choices and implementation techniques used by the top management, including the appointing or removal of the members of the senior management aside from giving the rest of the board members some advice with regards to the strategies used in enabling the company impinge on the corporate goals and business objectives (Solom on 2007, p. 82 Carpenter, 1988)1. By closely monitoring the daily activities of the companys executive directors, the non-executive directors should strain the executive directors responsible for the companys shareholders and external investors (Mallin 2007, p. 132 Solomon 2007, p. 88 Fama and Jensen, 1983).Solomon (2007, p. 86) revealed that there is a link between the role of non-executive directors and the role of institutional investors in the sense that the non-executive directors effort in ensuring that the business is free from any forms of stoopedion could somehow protect the socio-economic welfare of the companys public investors. Several authors suggest that the non-executive board of directors is strongly encouraged to actively participate in the board meetings with the rest of the directors and shareholders to protect the interests of the public investors (Mallin 2007, p. 125 Solomon 2007, pp. 86-88).Roles and Responsibilities of AccountantsIn general, accountants are not still made responsible for producing an accurate, neat, and fair financial statement that not only enables the senior managers to make important business decisions, but also give the public stockholders the privilege of accurately monitoring their investments in the company. Because corporate accountants maintain accurate and transparent financial accounting information at all times, accountants play one of the few most important roles in the development of effective corporate governance.To ensure that the company is able to come up with an accurate corporate financial statement, the business organisation should hire internal and external auditors who are qualified in monitoring fair and true financial values.DiscussionRomano (1996) explained that the shareholders have the authoritative power to influence the manifestations of legal and/or illegal business transactions. Given that most of the corporate shareholders are the business owners, these individuals are the ones who a re in the position to select and elect their preferred members to the board for the purpose of managing the business affairs. On the other hand, it is the board of directors who appoint, hire, and delegate detail roles and responsibility to a selected CEO. In a normal business setting, it is the CEO who is in charge of managing the actual business operations. For this reason, the CEO is often made accountable not only to the business owners but also to the board of directors.Upon analysing the corporate structure that is commonly used in large-scale companies, it is often the business owners together with the voluntary participation of the executive directors, the CEO, and the accounting manager who have the authoritative power to manipulate the companys official business documents. By going through the corporate financial statement, the non-executive board of directors should search for any signs of unusual business activities that could create serious consequences for the comp any. To prevent coming up with a biased judgment, the non-executive board of directors should ask with the internal or external auditors regarding any signs of unusual business transactions.Due to the flow of authoritative power within a business organisation, it is possible on the part of the shareholders, the members of the board, and the CEO to enter into business collusion with the business owners. By engaging the cooperation of accountants, business owners and corporate leaders may easily manipulate corporate financial records at the expense of the stakeholders and external shareholders. According to Becht, Jekinson and Mayer (2005), collusion among corporate leaders makes corporate governance one of the most controversial topics related to business and finance.Cassill and Hill (2007) explained that according to the principles of corporate governance, by voting on major financial decisions, the board of directors is made responsible for ensuring a balance between the business owners monetary interests and actual profit-sharing with the companys employees and the rest of the other stakeholders. Several authors correspond that corporate governance should be based on neutral and objective corporate values (Solomon 2007, p. 4 Haller and Shore 2005, p. 18). Since there is plenty of opportunity for the business owners to manipulate the board of directors to support their own personal interests, the concept of corporate governance can easily be violated at the expense of the majority of employees and public investors.A corrupt business culture is one that not only does not balk at accepting bribery, but may also be open to the practise of illegal offshore financing or the intentional manipulation of the actual financial statement (Dine, 2008). Within a business organisation, the board of directors and executives are among the few individuals typically behind the practise and development of a corrupt culture. For this reason, Dine (2008) revealed that European corporate law, following the UK model of corporate governance, is focused on investigating shareholders and the board of directors.Two good examples of real-world scenarios in the history of finance are the cases of WorldCom and Enron. In the case of WorldCom, its board of directors failed to fulfil their duty in terms of closely monitoring the executives management activities (Monks and Minom 2004, p. 509). This made them unable to protect the interests of their stakeholders. In the case of Enron, a total of 18 directors, including the CFO, ex-CEO, chief accounting officer and chief risk officer, voluntarily participated in the CEOs decision to manipulate the companys financial statement (Kim and Nofsinger 2006, pp. 52-53 Davis, 2005 CNN Money, 2004).Limitations in the Roles and Responsibilities of External Auditors when it comes to Detecting and Controlling Fraud Activities in BusinessAlthough the general public, government agencies, and a large number of investors rely heavily on the audit reports coming from the external auditors, there are still some limitations with regards to what the external auditors can do in detecting and controlling fraud activities that could find out within a profit or non-profit organisations. Hicks and Goo (2008, p. 258) explained that it is the managements responsibility to prepare complete and accurate financial statements and disclosures in accordance with the financial reporting standards and applicable rules and regulations. Therefore, it is wrong to believe that the external auditors are solely responsible for preventing the incidence of financial fraud.As stated by Kwok (2005, p. 168), an audit does not guarantee the sleuthing of all material misstatements because of such eventors as the use of judgment, the use of sample testing, the inherent limitations of internal control, and the fact that much of the evidence available to the auditors is persuasive or else than conclusive in nature. Since external auditors are a uditing financial statements that are presented to them by the corporate accountants, it is expected that external auditors could only provide the general public, investors, and government agencies with a reasonable assurance that the audited financial statements are free of misstatements, alteration of the accounting records, honest accounting errors, or falsification of the financial statements.Based on the Courts decision in the case of Caparo (Richards, 2004), in the absence of any adjure between the auditor(s) and either the investor, a potential investor, or any other third party involved, no duty of care will be owed.2Despite the external auditors responsibility to double check the accuracy of a companys financial statements, external auditors who work for a public company owe no duty of care outside the existing shareholders who purchase stocks in reliance on a statutory audit. It simply means that the external auditors can only be held liable to investors, potential invest ors, or any other third party involved only if there is a written contract stating that the external auditor owes them duty of care. In fact, external auditor(s) who are held liable for pure economic loss are considered as a case of simple negligence under contract law. Schaefer (2004) explained that the case is different when the auditor(s) are being judged based on tort law because tort law does not include a pure economic loss as a negligent act.Considering the difference between a contract law and a tort law, external auditor(s) who are found guilty of negligence will be held responsible and will be obliged to catch up with for the victims loss. In case an external auditor violates any of the auditing guidelines and is found guilty, the accused external auditor(s) will not be held responsible to compensate the victims loss because of the fact that tort law excludes liability of a pure economic loss. In other words, the victim of a wrong audit can demand a claim against those pe ople guilty of the wrong audit under a contract law (Ewert, 1999). Given that the general public can prove that both external auditor(s) and the managers of the company colluded against the outside stakeholders, the stakeholders of a given company can demand a claim against both the parties involved.Even though external auditors can be held liable for negligence and misconduct, there is still a limit as to whether an auditor can be held liable for a misconduct or not. For example, in case an external auditor has not provided the actual report to the company he works for, any law suit filed during the time ramble wherein the external auditor has not yet submitted his final report will not be considered punishable by the Court, because technically there is no duty of care that exists between the company and the external auditor(s) (Poorter 2008, p. 70).3In other words, the duty of care between an external auditor(s), the company, and the shareholders of the company will only exist wh en the external auditor has already submitted his final report to his client, the company.Basically, the extent of auditor liability will depend on the Court judgment and the degree of damages caused by the act of negligence that has occurred in the process. In line with this, it is possible for an act of negligence to occur when the external auditor(s) and the owner or manager of the company agree to underestimate the actual revenue of the company in order to pay lower taxes to the government or both parties may agree to overvalue the company in order to be able to get a better price when selling the companys shares to the public. Since there are different ways in which auditor liability may occur, the Court will be responsible for the investigation behind the said act of negligence.According to Schaefer (2004, p. 9), external auditor(s) with a binding contract towards the third party involved should not be held responsible for the loss that may occur in the purchase of stocks as l ong as the auditors did not take any actions that could trigger the decline in the stocks value. Therefore, external auditor(s) who did not manipulate the value of stocks are free from being held responsible in case the value of stocks depreciated. Rather than considering the loss of a public investor as a result of negligence on the part of the external auditors, the public investors are expected to be responsible enough to study the market first before they invest their money in the stock market.In case the general public is able to prove that external auditors were behind the manipulation of stock prices in such a way that they depreciated over time, then the Court has the option to make the company, including those people who were directly involved in the process of the fraudulent act, partially liable for the victims monetary losses. However, if a buyer was able to sell his share of stocks at an overvalued price for the reason that the internal and external auditors were not ab le to accurately detect the true market value of the companys stocks, the person who bought the overpriced stocks will have to compensate for the loss simply because it was the buyers decision to purchase an overpriced share of stocks.ConclusionThe personal obligations of external auditors to the general public or public investors is confine for the reason that the roles and responsibility of the external auditors are limited in terms of determining whether the accountants were able to present the financial statement based on the rules or laws accepted for the development of financial statements for the government, a private company, or a legal organisation. Likewise, external auditors are also made responsible for detecting any potential accounting irregularities made for the purpose of tax evasion or theft by the creation of ghost employees, skimming of the proceeds, or theft of an asset. chthonian the principles of corporate governance, the board of directors (executive and non- executive directors), the Chief Executive Officer (CEO), and the accountants have different roles and responsibilities in protecting the socio-economic welfare of the corporate stakeholders, including public investors. In case of a fraud scandal, it would be a misconception to put the blame purely on external auditors, since the board of directors (executive and non-executive directors), the Chief Executive Officer (CEO), and the accountants share responsibility in protecting the socio-economic welfare of the corporate stakeholders, including public investors.

Advantages And Disadvantages Of Ethanol And Biodiesel Environmental Sciences Essay

Advantages And Disadvantages Of ethanol And Biodiesel Environmental Sciences EssayThe worlds cleverness consumption has been increasing progressively since the industrial revolution 1. Global population is continuing to dramatically rise and the increase in economic development, peculiarly in China and India, over recent decades has contributed to increases in energy consumption 2. Currently, nearly 45 part of Australias total energy consumption is accounted for by coal, with oil providing approximately 35 percent, natural gas furnish around 15 percent and green power providing just over 5 percent 2. Alternative kindles are stated to be a potentially viable alternative to the character of dodo fuels. fogy fuels contribute to almost eighty percent of the total energy used in the world 3, 4. Fossil fuels are non-renewable resources that are limited in their supply and the burning of dodo fuels on a global scale freighter produce demarcation contamination, much(prenominal) (prenominal) as nitrogen oxides (NOx), release signifi female genitalst amounts of greenhouse gases, such as carbon copy dioxide (CO2), and contribute to global warming 1, 3, 5, 6. Alternative fuels are considered to provoke a less adverse effect on the environment, and are stated to be a solution to the problems created by fossil fuels 1. The main difference between fossil derived fuels and alternative fuels is the oxygen content, with alternative fuels having 10-45 wt% oxygen compared to fossil fuels which contain almost none 7. In Australia, the alternative fuels industry is relatively small, but is gradually expanding particularly in regard to fermentation alcohol or biodiesel production8. Alternative fuels, such as ethanol and biodiesel may prospectively provide an alternative for global fuel requirements. There are however, a number of drawbacks cerebrate to alternative fuels which may inhibit them from completely replacing fossil fuels without technological or genetic ad vancements 9.OutlineThis paper aims to project the advantages and disadvantages of alternative fuels. The discussion will commence by defining alternative fuels and a number of relevant terms. The analysis will then consider ethanol as an alternative fuel and an overview of ethanol production. Subsequently, biodiesels and an overview of biodiesel production will be examined. Fol firsting this, the advantages and disadvantages of alternative fuels will be considered. Lastly, the main arguments of this account will be summarised.DefinitionsAlternative fuels are a sustainable form of energy, are fuels that have not derived from petroleum and arouse include alcohols, biofuels, hydrogen, natural gas and propane 1. They are commonly solid, liquid or gas biofuels acquired from biomass, vegetable oil, or breakd from agricultural food increases 6, 10. A viable alternative fuel must be economical, supply a net energy gain, be beneficial to the environment, and be able to be produced in c onsiderable volumes with limited detrimental partakes6. The alternative fuels that are currently prevalent throughout the world are ethanol and biodiesel 7, 11, 12. Ethanol also referred to as ethyl alcohol, is a colourless liquid alcohol, less dense than water, with the chemical manifestation C2H5OH 13. Biodiesel is a carbon-neutral fuel that is a mixture of fatty blistering methyl esters 13, 14.Alcohols EthanolEthanol is one of the most widely utilized liquid biofuels that can be combined with gasoline to create an ethanol blend fuel, or it can be used in pure form 7, 13. It may be derived by fermenting carbohydrates obtained from natural sugars, starches or cellulosic biomass in plants including sugar cane, corn or straw 7, 15. Generally, this process involves the yeast driven fermentation of glucose in which the energy from the glucose is concentrated in the ethanol and CO2 is released as seen in equation 1 13.13The USA and Brazil are presently the two major(ip) producers of bioethanol with corn and sugar cane the primary base plants for the US and Brazil, respectively 16, 17. Current fuel yield for corn ethanol has been demonstrated at 1135 1900 L/hectare to achieve 50 percent of American transport fuel demands, more than 157 percent of USA crop buck would need to be utilized 17. In 2005/2006, Australia produced and consumed 41 jillion litres of ethanol fuel 8. expend and production of ethanol, however has been demonstrated to be increasing 8. In Australia, since 2003, the maximum allowed limit of ethanol in ethanol-petrol blends has been 10 percent 8. In 2007, there were three ethanol production facilities operating in Australia that generated ethanol from grains, such as sorghum and wheat, and from sugar cane, with production capacities of over one hundred fifty million litres annually 8.BiodieselsBiodiesel coevals emerged in the late 1990s and has continued to rapidly increase 13. Biodiesels are produced from a variety of seed plant oils, such as soybean, palm or rapeseed oil, or from animal fats 10, 15, 18. They are mostly manufactured through the process of transesterification 18. Transesterification involves the mixing and of an oil with alcohol in the carriage of a catalyst, such as sodium hydroxide, which reacts to create biodiesel and glycerine 18. The triglyceridies in the oil or fat are converted into a glycerine mote and three methyl esters of long chain fatty acid molecules (Figure 1)13.The glycerin by-product is not in market demand collectable to the excess produced from biodiesel generation and recently been discovered to convert into propylene glycol, which has a large market, and acetol 13. Biodiesel manufactured from soybean produces more than 90 percent more energy than is needed to generate it 13.Figure Transesterification of a triglyceride 18.Biodiesel is manufactured globally, with the USA and Germany dominating the market 20. Around the world, over 1.5 million tonnes of biodiesel is generated annu ally 15. In 2005/2006 Australia produced and consumed 16 million litres of biodiesel fuel 8. Use and production of biodiesels has increased since8. In Australia biodiesel can be utilized as a replacement for diesel or in a biodiesel-diesel blend of between 5 and 20 percent biodiesel 8. Investigations into utilizing canola or mustard for biodiesel production are occurring in southern Australia while currently, a range of fats and oils are used, such as tallow 8. In Australia, biodiesel production capacity is greater than ethanol production capacity 8.Advantages and Disadvantages of Alternative FuelsAlternative fuels such as ethanol and biodiesel have numerous advantages and disadvantages regarding environmental and societal impacts. The replacement of fossil fuels with alternative fuels could result in a decrease of CO2 emissions, a decrease in air pollution, reduce acid rain and decrease global warming3. Additional benefits include sustainability, fuel security, regional development and a decrease in rural poverty 7, 21. The land domain required to generate sufficient alternative fuel to meet demands however, may compete directly with agriculture requirements, water use, may cause pollution from the use of herbicides and pesticides, and could result in the destruction of natural habitats and a decrease in biodiversity 3, 21, 22. In developing countries, the expansion of the alternative fuel industry could increase deforestation, fall the removal of CO2 from the atmosphere through photosynthesis 12. The prices obtained for the sale of, for example, Australian produced alternative fuels is variable and depends on domestic prices for petrol and diesel, the world prices of oil and the Australian metamorphose rate 8.EthanolAdvantagesThere are several advantages concerning the use of ethanol as an alternative fuel. Carbon dioxide in the atmosphere is removed by the crop used for ethanol generation, resulting in the process being carbon neutral 15. Using ethanol o ver fossil derived fuels can result in a reduction of CO2 up to 75 percent 24. Higher densities of ethanol fuel and air can be combusted in an locomotive compared to petroleum due to ethanols constricted boiling point range and higher latent heat of vaporization (Table 1) 10, 16. Additionally, higher energy density can be achieved in the engine due to a lower stoichiometric air to fuel ratio 10, 16.This may produce enhanced engine efficiency and elevated power outputs in ethanol fuelled vehicles when contrasted to petroleum fuelled vehicles. The use of ethanol as an alternative fuel can result in lower pollution emissions compared to fossil fuels, particularly regarding particulates, alkenes, aromatics and carbon monoxide 13.DisadvantagesThere are disadvantages associated with the use of ethanol as an alternative fuel. At present, ethanol is not economically competitive 15, 24. Expensive production costs associated with ethanol can be generated due to the use of water for irrigatio n, herbicides and pesticides, fertilisers, and machinery maintenance 11. Other expenses may be accrued from wages, insurance, land charges, and depreciation of farm assets 11. Ethanol has a lower amount of energy generated per litre combusted, is more corrosive than gasoline and is toxic to ecosystems 13, 20. The use of pure ethanol is limited in colder climates by their low vapour pressures 13. Ethanol production from crops is stated to cause environmental degradation such as dust and exhaust emissions, displacement of alternative land uses, pollution of surface and ground water systems, increased turbidity in surface waters, salinity and bioaccumulation of some pesticides 9, 11. There are a number of environmental problems related to corn generated ethanol such as denitrification, erosion, and nitrogen leaching 9, 11. Ethanol crops are generally inefficient and the yields vary dramatically between various crops 15, 17. The disadvantages notable above fate that currently, ethanol is not a viable alternative fuel.BiodieselAdvantagesA number of advantages are linked with the use of biodiesel fuel over fossil derived diesel fuel. Biodiesel production is stated to be sustainable, environmentally friendly, nontoxic, and biodegradable 1, 5, 10. Biodiesels properties are alike the properties of fossil derived diesel, Table 1, suggesting it can be used unmodified in indirect injection diesel engines 5, 16. Table 1 demonstrates that biodiesel has a higher flash point than petroleum-based diesel making it is safer to store and transport 10, 16. Biodiesel burns cleanly, and the emissions produced have fewer pollutants including less carbon monoxide, sulphates and sulphur oxides, hydrocarbons, nitrogen and particulates 1, 5. It also has a small increase in fuel economy and superior lubricity compared to fossil derived diesel, which can reduce engine wear 7 14.DisadvantagesThere are many disadvantages regarding the use of biodiesel as an alternative fuel. Biodiesel prod uction from crops competes with food supply, can detrimentally impact the environmental through nitrogen and phosphorus leaching, and loss of biodiversity 6, 7. Biodiesel generally generates lower power and torque than petroleum-based diesel and can have a higher fuel consumption 10. Biodiesels are also not currently economically competitive 6. They are stated to have higher emissions of nitrous oxides and cold start problems 7. The biodegradability of biodiesel can create problems regarding fuel stability and long-term storage 14. Methyl ester fatty acids deteriorate in conditions with high temperatures, sunlight, oxygen or non-ferrous metals 14. The disadvantages noted above indicate that currently, biodiesel may not be a viable alternative fuel.ConclusionAlternative fuels such as ethanol and biodiesel have both advantages and disadvantages regarding impacts on the environment. Ethanol is usually produced through the fermentation of carbohydrates while biodiesel is generally produ ced by transesterification. Within Australia, the industry of alternative fuels is steadily expanding. Advantages of alternative fuels may include decreased emissions and air pollution, reduced impact on global warming, sustainability, fuel security, regional development and a decrease in rural poverty. Disadvantages of alternative fuels may include land use competition, water use competition, pollution from the use of herbicides and pesticides, deforestation, the destruction of natural habitats, and a decrease in biodiversity. Currently, the production and use of the alternative fuels ethanol and biodiesel do not appear to be viable.

Race in Othello and Titus Andronicus Essay -- comparison compare contr

Race in Othello and Titus Andronicus Within both Titus Andronicus and Othello both by William Shakespe atomic number 18 the reader is introduced to the concept of a bare man within a washrag society. Stigmas and stereotypes are attached to the black characters of Aaron and Othello. Although each black character has a similar stigma, the characters are very different from nonpareil a nonher. Aaron is portrayed as evil, designing and malevolent, while Othello has none of these traits. Othellos fault lies in the fact that he is very gullible and easily led. Aaron within Titus Andronicus is a character that is both bound and non bound to his colour. Though his actions stinkpot be blamed on his colour, there are two paths to follow in this thinking. First Aarons actions within the play can be blamed on the fact that he is black and as he is black, he is naturally a bad person as black people are stereotypically people prone to causing trouble and have black souls which match the ir outward appearance. This answer would have been acceptable within Shakespeares times, up to in a flash it seems that it doesnt fit with Othello as the villain in that play is a white man, whos soul is nothing but pure evil. If one were going by the cost of colour dictates your soul, that would have made Iago a good man, and he definitely wasnt a good man. The other way in which one could take Aarons misbehavior, which seems to be the more logical one is that his actions though are a result of his skin tone are not an inbred condition. His actions, deeds and thoughts are not dictated through his skin colour, but because of the ostracism and the hate he has felt through his life due to his skin colour he now has built up a resistance to the hate. By throwing hate ba... ...what similar. Though both characters have similar stigmas attached to them they are very different from one another. The reaction to Aaron can be justified as he actually is an evil person and causes nothing b ut trouble. In the case of Othello, the reactions of the other characters are simply a projection of the stereotypes associated with the black man. Works Cited McLauchlan, Juliet. Shakespeare - Othello. London Camelot Press Ltd. 1971 Wain, John. Shakespeares Othello - A Casebook. London MacMillan Press. 1994 Shakespeare, William. The Tragedy of Othello the Moor of Venice The Norton Shakespeare. Ed. Stanley Wells & Gary Taylor. hot York/London, W.W. Norton Company,1997. 2100-2174 Shakespeare, William. Titus Andronicus The Norton Shakespeare. Ed. Stanley Wells & Gary Taylor. New York/London, W.W. Norton Company,1997. 371-434

Unification of Italy and Germany Essay -- History

Unification of Italy and GermanyBy 1871 both the kingdom of Italy and the empire of Germany were united. Even though both countries employ popular trends to that time, both liberalism and nationalism, the process unifying these two countries was very different. The end result was Germany emerging as a strong nation and Italy appropriately, the weaker.Italys problems started with the particular that it didnt have one main ruler, but two people and a concept, resulting in a different approach to the unification. Gulseppe Mazzini had a radical broadcast focusing on a centralized democratic republic based on universal suffrage and the will of the people. Vincenzo Gioberti, who was a catholic priest called for a federation of existing states under the presidency of the pope. Then there were the people who favored leadership toward the autocratic kingdom of Sardenia. Sardenias rule was much more(prenominal) popular to the middle class than the other two because Sardenia appeared to be a liberal, progressive state displaying national unification. That is what the people were striving for. They thought Mazzinis ideas as well as radical- and they were trying to get away from religion running the nation as it had done in the past. They wanted a distinct separation between church and state.Cavour was the man who made the change, but he sought unity only for northern Italy to become a greatly expanded kingdom of Sardenia. In the 1850s Cavour worked to consolidate Sardenia as a liberal state cap...