Childhood Obesity in America Research Proposal Example | Topics and Well Written Essays - 3750 words

Childhood Obesity in America - Research Proposal Example The number of cases in past three decades have raised to three times. It is unfortunate that the rate of incidence obesity is reported to be exceptionally high for the minor population i.e. the population belonging to the age group between 2 to 18 years. It is also reported that 25% of Black and Hispanic kids are flabby (Child Obesity In America). The tern emerged for these exceptionally fat children as super-obesity and it has take a toll with a rise of 100% in past 20 years. It is evident that when these kids will grow they are going to be obese adults (Child Obesity In America). Such overweight kids start reporting with the problems of high blood lipids, insulin resistance, elevated blood pressure, and other troubles. The jeopardy of an high blood cholesterol concentration is maximum amongst children with body loads more than 90th percentile (Child Obesity In America). Reports illustrate that around 7 million American children and teenagers are supposed to have elevated cholestero l concentrations. If LDL concentration rises at young age and when these kids grow as adults they are bound to have prominent LDL cholesterol intensities (Child Obesity In America). ... Besides these critical issues the obese child also witness physical health issues and social troubles (Child Obesity In America). Morbidly obese children also suffer from emotional distress and this results in their profuse eating habits. It is observed that obese children relish a lot if they get all the eatable they wish for. They develop a tendency to eat constantly and do not feel satisfied even after eating a large full meal. It is reported that eating behavior of children have considerably altered over the past twenty years or so. Children are achieving a greater percentage of their calories from junk foods and snacks, these food items have high proportion of fat, salt and sugar (Child Obesity In America). The most favorite food items for kids in today's scenario are ice creams, soda pop, hamburgers, cheeseburgers, pizza, French fries made of potatoes that is full of starch, shakes that are sugar syrups, chips, and candy bars. These food items are devoid of fibers and are rich in fats and cholesterol. Children do not like to eat raw fruits and salads. They like to opt for juice with sugar from these juices fibers are being strained out. They do not like salads and vegetables, if they eat fruits and vegetables they eat with toppings of cream and sugar or with ice-cream (Child Obesity In America). Additionally, Children have developed a tendency to eat more and they are not satisfied with the little amount of food they consume. Estimates reveal that the average size of the food items have been enhanced three times i.e. from 50 to 135 calories, apart from food items augmentation in beverage serving has also enhanced from 8 to 20 ounces. With the increase in diet the body is also increasing in girth making the children to develop

Remote Sensing Project Research Paper Example | Topics and Well Written Essays - 2500 words

Remote Sensing Project - Research Paper Example They also encompass chemical sensors that are used to analyze the intensity of elements in the air, biological sensors are useful in USGS in scientific research is the initials for United States Geological Survey. Scientist who use the United States Geological Survey have the capability of capturing the landscape and learning more about its natural resources and anything else that harms it. USGS focuses on land, its use and change, ecosystems, minerals, energy, natural hazards and environmental health. Drones can be used in scientific research both during the day and night. An object can be observed, measured and identified without direct contact with the satellite. Some of the remote sensing data include multispectral data, satellite imagery, space sensing and digital elevation data. In this process of observing the earth, one needs a device called a USGS earth explorer, (Lillesand, pg.87). In this case, the earth’s data such as maps, satellite data, and land cover products are searched and found online. Remote sensing images are put in digital images. In order for the researcher to be able to get the information that he or she wants, image processing has to be done so as to get the visual interpretation of the image. (Campbell, pg.113). Commercial aerial surveillance is a major area where this topic has been applied previously. This function has been known to enhance security in homes, wildfire mapping, pipeline issues, in roads and when conducting anti-piracy. All objects on earth can be automatically detected and by this doing a scientist is able to achieve his objectives, (James, pg 200). Drones have both biometric and facial recognition systems and therefore are able to recognize a person from a height of 1500 feet. They are used in this case to patrol above 400 feet to prevent possibilities of unlawful immigration or terrorists attack from a countries

Empire of the Wolves (2002) Term Paper Example | Topics and Well Written Essays - 1250 words

Empire of the Wolves (2002) - Term Paper Example This movie is based on a novel by Jean Christophe Grange and tells a story of young idealistic police captain Paul Nerteaux (Jocelyn Quirin) who has just taken over the case of three Turkish women seamstresses in Paris’ Turkish community. Paul decides to get help from retired cop Jean Louis Schiffer (Jean Reno), as he had patrolled the area for over 20 years but is known for his unorthodox methods.            The movie is an investigation about the murders of three women being subjected to an experiment. Though Paul tried to get with Schiffer about the crime he was torn between the judgments of the people about his collaboration on the retired cop who practice the unorthodox way of investigating the crime. Even the doctor in charge of the autopsy has given him warnings about the Schiffer.          The crime was projected in the movie is actually a crime about experimenting with human bodies for new treatment discoveries. It is a form of murder, which is a violation of the law and also a form of violation to medical, or bioethics. What’s so real about this movie is the implementation of the violation of bioethics. In Bioethics, humans should not be part of any technological or any experiments. Experiments should only be limited to a few forms of animals (like mice).   In real life, scientists are truly imprisoned and the license is taken from them if they practice experiments with humans just like in this movie where they use surgeries and implants. In real life, so far, there has been no news about scientists totally doing experiments on humans due to the imposed law about ethics. They are only practicing their findings limited to lab rats, sheep, and other animals. This media product though is not far from impossible to happen in the near future. I say it’s a little bit of advancement of science that violates the law. The investigation by the two cops was a mixture of the orthodox and unorthodox way of doing it. It happens, especially when the officers assigned in such cases are of different principles.

Public Relations Essay Example | Topics and Well Written Essays - 1000 words - 3

Public Relations - Essay Example Yet another source cites the ‘Institute of Public Relations’ which gives the definition as â€Å"Public Relations practice is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organization and its publics† (www.buildingbrands.com). The Merriam-Webster online dictionary defines public relations as â€Å"The business of inducing the public to have understanding for and goodwill toward a person, firm, or institution; also: the degree of understanding and goodwill achieved†. (www.merriam-webster.com). The worded definitions of ‘public relations’ may be different but they invariably point in the same direction i.e. the establishment of the identity of an organization, person or society into the psyche of the general masses whereby they come to understand the basic tenets of the philosophy and the setup of that organization which enhances the mutual understanding between the two for any fruitful and meaningful exchanges. The definitions however are oriented towards the positive aspects of public relations as they are invariably considered to be an effort to establish goodwill and harmony between two groups and talk nothing of any negative aspects which the organization may have. Therefore the orientation of public relations of an organization is always aimed at highlighting the positive aspects. More positivity can be induced when both the merits and demerits of the organization are shared with the public to give them a true picture, in order to avoid misunderstandings later. The ‘harmonization of private and public policies’ which is the ultimate aim of public relations according to the PRSA can be achieved only if the facts are presented accurately, precisely and supported by easily comprehensible data. Organizations like government departments, hospitals, educational institutions, private companies, religious societies, etc. have a distinct

Are Turkish Dramas Evading Our Culture Essay Example for Free

Are Turkish Dramas Evading Our Culture Essay The foreign dramas are attacking our culture and these are not according to our culture After a contentious time of the Indian dramas, now numerous Turkish plays are giving rise to curious hype not only in our television drama industry but also in the minds of the general public. As a matter of fact, it is true that our local drama production is invoking the interests of thousands and millions of viewers and most of these spectators are finding these plays appealing enough to follow. However, in recent times it has been noticed that some foreign television content is trying to induce a substantial place in our country. Unfortunately, somehow a Turkish serial â€Å"ISHQ-E-Mamnoon† was aired out and after a few weeks it ended up by getting exultant high ratings. After the broadcast of this particular play, a slipstream is started among the different TV channels to get foreign content and present to the public, in order to gain high ratings. When broadcasters and people are basking this dubbed â€Å"so called† change, they forgot to think all this activity is turning out to be a veridical threat to the local industry as well as the integrity and culture of our nation. There is also a small group of people who is trying to back up these serials, but I think these people might disremember what Indian dramas have done with our acculturation in the recent past. Because of these plays, our adolescents (especially girls) have started out to follow their language. In fact, several words were became the part of their vocabulary and they used these words into their normal discussions. After ascertaining the severity of this issue our civil society and television industry have taken some measures and banned all the Indian channels. But now we have to cope with another scourge which is a lot more dangerous than the previous one. We need to observe what sort of message these Turkish dramas are trying to convey? Are the stories of these plays fair enough to watch with our parents, brothers and sisters? Of course not and that is the main reason why it is considered as infectious to our culture and nation by our producers, writers, actors, directors and now public as well. These Turkish serials are full of bold scenes, which is totally against our moral values and they are just becoming the cause of raising the level of grossness and vulgarity. All in all, our music and film industry is neither cohesive nor strong. This is only the television industry that is producing high caliber dramas and bringing out the talent nd acting of impeccable quality and it should not have to endure the same issues as our film and music industry are confronting. Apart from our cultural and moral values, these Turkish serials are also threatening the future of thousands of actors, directors, cameramen, writers, producers, spot boys and other individuals who are directly or indirectly associated with our local drama industry. Although, a good and positive aspect is that our actors are united and they are unitedly saying the Turkish or any other foreign content should not hijack the viewership of our local dramas. If we take a close look at the history of subcontinent then it is not very hard to find the same interference of the popular East India Company that eventually became the main reason of Subcontinent’s separation. However, right now things are quite under control and still it is too long to anticipate any resemblance with this specific issue. Although our government must have to take impertinent and smart actions in order to avoid the drastic effects on our culture as well as on economy which is depending on our drama and entertainment industry.

Business Plan for Start-Up

Business Plan for Start-Up The business Plan. Synopsis. For this assignment we as a group have been asked to produce a business plan with supporting analysis and justification. The aim of the business plan is to focus on convincing the company stakeholders of the viability of your company start up. The justification includes evidence relating to the rigour of the product selection and the content of our plan. Introduction. A business plan is a written documentation of which describes the business, the objectives of the business, its strategies, the market of which the business is in and the financial forecasts. The business plan has many functions, from securing external funding to measuring the success with the business itself. It essential when starting up a business for a business to have a realistic working business plan. Our business plan is a statement of intent and provides details on how we as a company are going to develop our business, when we are going to do it, whos going to play a part and how we as a group will manage the money. The Business Plan. The executive summary: Our company is a Young Enterprise company trading in imported and homemade products for the product market. We as a company aim to produce and sell a variety of greeting cards and candles of which are homemade to the general public. An aging population will enhance demand for specific card types. The types of cards that there may be an increased demand of cards that there may be an increased demand for include: Retirements Anniversary Birthdays Christmas Easter Valentines Day, mothers and fathers day cards Handmade cards are likely to continue growing in popularity as card sender seek more and more to express their own individuality. The business, its products and services: The business. ASGO4 is a unique candle and cards selling company we offer a variety range of products which include all sorts of various candles and cards for any all kind of special occasions to meet all needs. The company ASGO4 consists of 5 dedicated members who aim to grow this company to achieve a successful business. Product and services. We have a wide range of cards to suite various needs and for all special occasions, i.e. birthdays, anniversarys, valentine and exams. Exam congratulation cards and best wishes for courses can have a wide range of market; these cards will have a good selling point within Staffordshire University. (Refer to appendix 1.) Competition comparison ASG04 products contain many features that distinguish them from those produced by competitors. ASGO4 products are handmade and are to suite all special occasions. The quality of the candles and cards are produced at a magnificent level, even to the untrained eye, which makes ASGO4 products more realistic. ASGO4 are unique and offer a wide range of candles, not many similar products is available in the domestic market. Technology ASGO4 products are mainly handmade some of the products produce by, ASGO4 will be provided by wholesalers, these products that are produced by wholesalers will be produced at a professional level. Future products ASGO4 aim to turn into a successful business, by providing a wide range of candles and cards to meet all requirements. The candles that are provided by ASGO4 have a potential market, as they can be used for many special occasions. What benefits its offers. ASGO4 products offer great benefits to its customers because what we provide to you cannot be provided to you from else where. Customers would buy our products because our products are different compared to whats already available on the market, so this makes ASGO4 more appealing to its customers. Product facilities The main facility, we will use is the market store, within our market store e will have a wide range of space to display our products, we will use tables and colourful table cloths which we will hire, we will use the table cloths to make our tables of display colourful and appealing. Some candles and cards will be hand made by the members of the ASGO4, but these will be simple products, we will do this simply to widen our range of products. Information technology Information technology is of a part of the almost every business day to day life. We will use a promotional information technology tool which will done by are of our class colleagues, he will promote our company ASGO4 and this will create awareness of our company, what we offer and where we are based in Newcastle. The markets and competitors: There are a number of competitors of which we have to consider, the types of candle competitors of which we have to consider are: Johnson Wax Glade known as air-care candles. Bousius (UK) Ltd. Dane. Yankee Candle Ltd. British Candlemakers Federation. Colony Gift Corporation Ltd. Prices Patent Candle company Ltd. The types of card competitors of which we have to consider are: Birthdays. Clintons. Hallmark. Card Factory. Marketing and sales: Market Segmentation Enhancement candles unscented Retail sales of unscented candles were  £48 million in 2000, a rise of 27% over 1996. They account for 50%, by value, of the enhancement sector, compared with a share of 62% in 1996. Figure 7 provides trends since 1996. Growth within the unscented candles sector is decelerating, as purchase of scented candles becomes more popular. Unscented candles include coloured household candles, which can be used as ornaments as well as for lighting. Many are purchased to match household dÃÆ' ©cor, as well as to create a relaxing ambience during dinner parties. Enhancement candles scented It is the fragranced candle sector which is fuelling growth within the candles market overall. Retail sales of scented candles are estimated at  £48 million for 2000. This demonstrates a rise of 106% since 1996. Scented candles account for an estimated 34% of the total candle market and 50% of the enhancement sector by value. Functional candles tea lights Tea lights have reached the mature stage of the product lifecycle, being one of the first candle variations to be introduced into the UK after traditional white household candles. For this reason, value market growth is set to slow over the next few years, although they remain popular as they are so versatile. In 2000, tea light sales were  £27 million, a 10% increase on 1996. They accounted for some 19% of all candle sales in 2000, which is a decline of 6 percentage points since 1996, reflecting a drop in price points rather than usage. Emergency candles Retail sales of emergency candles (primarily white household candles) are declining slowly and were  £4 million in 2000. This compares to almost  £7 million in 1996. Mintel s consumer research indicates that as many as 18% of housewives had either bought or received white household candles within the six months to January 2001, although not all will have been bought for emergency use only. Figure 10 demonstrates trends since 1996. Air care candles Air-care candles designed for freshening air/masking odours are increasing in popularity. According to Mintel s consumer research, around a third of housewives use candles as air fresheners in 2001 and one quarter claim to have bought or received scented candles made by air freshener companies. The air-care candles market was worth  £14 million in 2000, almost three times the value of 1996 sales. It is still at the growth stage of the product lifecycle, with many of the products being relatively new. Figure 11 provides trends in the air-care candles market between 1996 and 2000. Target market segment strategy Target market: Enhancement candles scented Scented candles have experienced a considerable growth in popularity since 1998, with 63% of housewives having purchased or received them during the six months prior to the survey. This reflects trends within the market place generally. A quarter of candles purchased or received are scented. Consequently, our company aims to import and sell scented candles since the scented candle is the most popular and profitable candle category so far. Candle industry Major factors influencing the market The candles market is influenced by a number of factors. Purchased primarily by women, the growth in the number of women working has impacted positively on candles sales, because of a subsequent increase in discretionary income and financial independence. There has been a shift in lifestyle patterns, with a growing trend towards alternative healthcare and aromatherapy, and a revival in the popularity of pot pourri and incense, all of which have had a positive influence on candle sales, especially within the fragranced sector. There are also seasonal variations, with garden candles naturally performing better in the summer during usage of barbecues, or Christmas candles with special Christmas colours and fragrances for the Christmas period. Changes in the age structure of the population have also served to boost sales of certain candle types. For example, the young age group has expanded, boosting sales of the more fashionable floating candles which have a high purchase rate among this age group. Industry participants (Main competitors) Colony Gift Corporation Ltd Colony Gift Corporation is the UKs leading quality candle manufacturer and claims to be the largest producer of scented candles in Europe. Colonys turnover in 1999 was  £22 million, up 21.5% on 1998 turnover of  £18.1 million. It employs more than 460 people and its brands are available in over 70 countries. Prices Patent Candles Company Ltd The company produces candles and related accessories. It offers a wide range of candles for all occasions, including: scented and aromatherapy; outdoor lighting; Christmas and Easter; as well as decorative candles and the more traditional church-style candles. Yankee Candle (Europe) Ltd Yankee candles are positioned as premium-quality, giftworthy candles for the purpose of home fragrancing. Fragrances are numerous and include sage and citrus, spiced apple, honeysuckle, French vanilla and spiced pear. Bolsius (UK) Ltd Bolsius (UK) Ltd is owned by NLD Bolsius International BV. The company has been active in the UK for over 15 years. Only about 40% of the companys output is sold through retail outlets, while approximately 25% of sales are to religious institutions and 35% to the catering trade. Johnson Wax Johnson Wax is owned by the US company SC Johnson Son Inc and is a major player in a number of household goods products, notably household cleaning agents and polishes. The company leads the air freshener sector, with most of its marketing effort placed behind the Glade brand. (Refer to the business justification Ansoff product/market matrix and Boston matrix to assess marketing and business development strategies). The team skills: Within ASGO4 there is in total five dedicated staff members of whom all have different roles within the business itself. Below is a list of the roles each of the staff members have and also entails a description of what they are responsible for within the roles and what types of skills are required for each of the roles: Team skills should identify the strengths of the teams the plans to deal with any obvious weakness. Leadership. Managing director is ultimately responsible for the other members of staff, shareholders of the business; the managing director needs to exercise all of the leadership skills as well as diplomacy fairness strength. A managing director is responsive for encouraging teamwork. Administration. Company secretary are responsible for the co -ordination, communication organisation of all the areas relating to our company ASGO4. The specific roles of being the companys secretary include the following Completing registration documents Keeping the share register Keep records Administrating company meetings Organising agendas minutes Finance. Finance director is responsible for financial resource management, it is the job of the finance director to keep track of the money and also need to plan, know and record where the money is coming from, whos got it and where its going. All financial transitions should be recorded by the financial director and to communicate financial progress to members of the team. Other roles of the financial director includes doing the banking and work a alongside with the company secretary on the company share and responsibilities to shareholders. The financial director is also responsible for calculating and paying the young enterprise and corporation tax. Marketing. Marketing director need to use their innovation and creative skills in taking a key role in identifying market and opportunities as well as defining product or service charlatanistic. The main responsibilities include PR and advertising for the company, as well as carrying out market research and customer observation to help to maintain customer satisfaction. Operations. Operations director are responsible for product and service development, their role is the ensure that a method of operation is decides and organise the production of the company products and service, an operations director is responsible for purchasing raw materials, stock, supply and demand of finished items. Health and safety of the other staff members and customers should be one of the operation director concerns. The operation: ASGO4 will buy candles from its wholesalers and then put its products on the market, we will use a market store in Newcastle market, and we will display all our products there within the market. Newcastle market is amongst one of the biggest markets in Stoke-On -Trent, so this enables us to target a wide range of audiences this will make our products more appealing as there are huge crowds in the market that we could attract. The main advantage of our locations is that as Newcastle market is one of the busiest markets to people from all background and different social class attend this market and this is a great opportunity to take advantage of this because we will have a wide range of audiences. Financial forecasts: After financial forecast, such as cash flow and Profit and Loss Account, we have just started our business ASG04. And we are only preceded in one month preceded January 2005. Our business is running slow. So, it will take time to pick up. We have a good target market in Newcastle market. We have a wide range of target range in this aspect. Newcastle market is amongst one of the busiest open market in Stoke-On-Trent. We only have a few expenses, such as motor petrol, premises and equipment hire. As our expenses are very low, this allows us to increase our profit margin. Because of low expenditure, we have a low cost that means our price of product will not be set very high. Our business will have enough working capital to survive because of our low cost. We intended to raise a huge amount of money as our product attracts a wide range of target audience. We expect to make a substantial amount of profit as we proceded without business. (Refer to appendix 2.) Business Justification. A business plan is produced to convince shareholders, banks to invest into our business. The concept of the business is purchasing pre-produced products i.e. candles and some cases producing products. The products that will be sold will be aimed to various age groups. In order for the business to see success and make a profit it is important to ensure that costs are kept to a minimum. the business will focus on selling various types of candles i.e. scented, unscented, floating etc. our products bought from manufactured will not be sold as they are, they will be bundles and sold as gift packs for example. This methods makes the product unique and be able to make a profit. For example, 1 large candle will cost the business approximately 60p. If the product was sold as apart of a set of various candles i.e. sizes, colures and sold for  £5.00. This one candle may make a profit of excess of  £2.00. Researching into this product and market is important, so the company is able to forecast its success. It is clear there is a market for this product. The correct location is also important. As the products will be sold on a market stall, our company will see less overhead costs compared to high street stores. Above shows a table showing the sales of scented candles between 1996-2000. This information is important so that company is able to see the changing trends over time. Un-scented candles are not as popular as scented candles. These products often uses to create a desired atmosphere and also used for show. Increasing sales can only mean that there is a demand for these types of products. This project has no major overhead expenses. Our main expense will be renting the stall that will cost approximately  £16 per week. As no other major resources are required for example water, electric, our costs will be kept to a minimum and be able to transfer bargains to our customers. Analysing the business plan there is a big chance for success with this project. Sales for these products are increasing every year and the public are looking for new products to buy. Demand for candles are created by women and often purchased more by women. With busy, stressful lifestyles combined with working, looking after families has created an environment for candles. The below illustrates UK manufacture sales between 1996 and 1999. It shows that there is a drop in sales in the UK. In 1999 it shows that sales were down to  £1.57 per candle. Source: candles UK April, 2001 Ansoffs product/market The Ansoffs product-market matrix helps to understand and assess marketing or business development strategy. ASG04 is able to use Ansoffs product matrix to see what mix strategic options to use. Product development is developing or finding new products to take to an existing market. This is a strategy if the company has a strong market share in a particular market. Developing products are often a very expensive process. In this case, ASG04 does not have any market share, but with the product being sold are in demand and play apart of the market share in the UK. A business should try not to have any Dogs, but focusing on cash cows, problem child and stars that need to be kept in a kind of equilibrium. Funds generated by cash cows are used to turn problem child into stars that may turn into cash cows. Boston matrix. The Boston matrix model is a tool for assessing existing and development products in terms of their market potential. Our products lay between stars and soon to be turning into cash cows. The market already exists and has various types of candles that are sold. ASG04 is purchasing ready produced candles and developing them by making them more appealing to the public to buy.

The Implication For Users Of Financial Statements Accounting Essay

The Implication For Users Of Financial Statements Accounting Essay Financial statements should be well understood by those who read it especially those individuals who have considerable knowledge of business and economic world and those ones willing to learn the information carefully. There are various users of financial statements. These users are classified into two broad categories. These users have different purposes for using these statements. The first category of these users is the internal users. The internal users refer to those individuals who have direct interest to the activities of the organization. They include: 1) Managers and owners need financial statements so as to make business decisions. They analyze the information provided by financial statements so as to obtain a clear position of the organization. Variable elements of financial reports such as the ratio of current debt to equity ratio is vital in making a decision on the amount of long run capital that needs to be available;2)employees form the second group of internal users of financial statements. Employees require this information especially when making joint collective bargains (Dyson, 1996). Such statements are of significant importance when discussing issues concerning promotion, salary increase and rankings. External users include: 1) institutional investors who use the financial reports to evaluate the financial capability of the business so as to make reasonable investment decisions; 2) Various financial institutions like banks and other loan bodies need to evaluate financial reports of businesses before lending them money; 3) the government also analyzes financial statement of different companies so as to prove if they paying taxes accurately ;4) the general public as well as the mass media may be interested in analyzing the statements of certain businesses. 1.2-What are the different aspects of legal and regulatory framework that relates to financial statements? There are different methods which can be followed when presenting financial statements. Rules-based accounting is made up of precise rules that must be observed during preparation of financial statements. Many accountants prefer the use of this method so that they reduce their liability in the event misjudgments. In situation whereby the management decides not to use rule-base accounting, it can choose to employ other accounting policies in preparing their financial statement (Guilding, 2002). However, this can be challenging because there are some policies which do conflict. Companies which need to included in stock exchange in more than a single country need to prepare their statements in accordance with GAAP. There are several reasons why it is necessary to have regulatory framework guiding financial reporting within countries and on international level. One of the reasons regard to irregular information (Moncarz and Portocarrero, 1986). Assume a scenario whereby the manager of th e company is the one responsible for preparation of financial reports. This responsibility gives the manager the opportunity to access financial information which other members of the organization do not. Managers can take advantage of this privilege to exploit the statements so as to favor their own personal interest. Therefore, there must be regulation on reporting to stop insiders from exploiting financial statements. Another important factor to be considered is reliability and relevance of financial statements. Access the implication for users of financial statements? The different aspects of legal and regulatory framework have significant implication for users of financial statements. Some of the users of financial statements have complained that some of the regulations add unimportant complexities. The basis behind their argument is that there are some rules which are extremely detailed, with standards extending to more than hundred pages. Others have argued that these rules provide loopholes for financial engineering and fail to provide a true and fair image of the business. It has also been noted that sometimes these rules fail to capture the details of targeted cases. Another negative phase of these rules is that they fail to provide solutions in the event of gaps (Kotas, 1999). Management can also choose to observe all those accounting treatments that favor their interests and avoid those that will define real position of the business. However, it is worth to acknowledge the fact that these rules play a major role in ensuring a fair competit ion of international businesses which operate in more than one national market. However, it is fairer to say that observance of these legal and regulatory frameworks significantly contribute to preparation of statements which portray a companys real performance. The different legal and regulatory frameworks should be flexible enough to accommodate new situations in the business. A relevant and reliable makes it easier for users of financial information to analyze those statements. Describe how different laws and regulations relate with accounting and reporting standards? (Pass P4) Provide the regulatory framework of any country other than UK and compare it with UK regulatory framework (Distinction 1) There are several accounting bodies which guide the accounting environment and significantly determine the success of a business. Security and exchange commission aimed at eliminating abusive stock market collision that had accumulated and resulted to instability in stock markets. Security and exchange commission ensures that publicly reporting business adhere with the generally agreed accounting principles. Financial accounting standards board (FASB) provides a plane set of standards to be observed when presenting financial statements to the public (Atkinson et al,1995). It aims at shielding the investors from fraud of business owners. Internal accounting standards board was founded to come up with comprehensible financial accounting reports (Messenger and Shaw, 1993). There is also the government accounting standards board (GASB) which aimed at establishing standards of helpful information that will aid users of reports to understand the reports in a much better way. On the second part of this question, the country of my choice is Kenya. In 1998, the council of Institute of Certified Public Accountants of Kenya set IFRS (International financial reporting standards) as the accounting standard in Kenya. From then henceforth, all the companies were requested to prepare their financial statements in accordance with IFRS. However, in Kenya there is a significant gap that has been observed between applicable accounting standards and the real practice by companies. In 1969, the UK ICAEW issued the statement of intent on accounting standard. This statement made it clear that standards will be generated in future with four main goals. The first goal was to reduce the dissimilarities and diversity in accounting principles. Second, was to disclose the accounting foundations. Third, disclose the diversion from established standards and eventually explain the broad exposure for main new accounting proposals. There have been a number of committees which have been formed si nce then all with the aim of improving accounting disclosure. Requirement 2.1 The following is a trial balance from auto electrical ltd as at 31 March 2005  £  £ Ordinary shares of 50 p each 400,000 10% Redeemable Preference shares of  £1 each 200,000 Retained profits as at 1 April 2004 42,475 Office block (Land  £40,000) 170,000 Plant and machinery 730,000 Office equipment 110,000 Motor vehicles 200,000 Provision for depreciation Plant and Machinery 224,500 Office equipment 24,500 Motor vehicles 80,000 Accounts receivables/Payables 500,000 356,226 Provision for doubtful debts 1,000 Manufacturing wages 501,400 Inventory as at 1 April 2004 raw materials 70,000 Work in progress 126,000 Finished goods 250,000 Transport expenses 85,013 Returns inwards 15,106 Purchases of raw materials 518,600 Sales 2,600,147 Bank balance 60,020 Directors salaries 60,114 Maintenance of plan t 30,102 Rent 40,063 Advertising 190,048 Rates 50,171 Insurance 20,116 Office salaries 166,013 Light and heat 46,027 Factory power 30,014 Bank interest 7,070 Interim dividends on preference shares 10,000 General administration expenses 63,011 _________ 3,988,868 3,988,868 Further information is as follows: Depreciation is to be provided as follows: Plant and machinery 15% on cost. (Production expense) Office equipment 10% on cost (administration expense) Motor vehicles 25% on WDV (distribution cost) New office blocks 2% on cost (Administration expense). As at 31 March 2005 rates were prepaid by  £3,140 . Outstanding light and heat as at 31 march 05 is  £1,214 and rent is  £2,321 Rent, rates, light and heat and insurance are to be apportioned in the ratio of 5:1 in relation to factory and office expenses. The company makes a provision of 1% for doubtful debts on all accounts receivables. The production director is paid  £20,000.  £64,237 is included Office salaries  £100,000 is to be provided for corporation tax During the year 1,500 electrical equipments were transferred from the factory to the warehouse. Only 100 equipments were in hand at the end of the year. At 31 March 2005 Inventory was: Raw materials  £56,200. Work in progress  £47,190. Finished goods ? Classifying expenses by function Auto transmission Income Statement for the year ended 31/03/2005  £  £ Revenue 2,585,041 Cost of sales (1,586,692) Gross profit 998,349 Expenses Distribution expenses 373,298 Administration expenses 244,489 Finance costs 27,070 (644,857) Profit before tax 353,492 Income tax expense (100,000) Profit for the period 253,492 Classifying expenses by nature Auto Transmission  £  £ Revenue 2,585,041 Expenses Raw materials consumed 532,40 Changes in finished goods and work in progress 233,332 Depreciation 153,100 Employee benefits 727,527 Other expenses 558,120 Finance costs 27,070 2,231,549 Profit before tax 353,492 Income tax expense (100,000) Profit for the period 253,492 Auto Transmission Balance sheet as at 31/03/2005  £  £ NON-CURRENT ASSETS Property, Plant and Equipment 727,900 CURRENT ASSETS Inventory 198,868 Accounts receivables 495,000 Prepayments 3,980 697,848 TOTAL ASSETS 1,425,748 EQUITY AND LIABILITIES Ordinary share capital 400,000 RESERVES Retained profits 295,967 Shareholders funds 695,967 NON-CURRENT LIABILITIES 10% Redeemable preference shares 200,000 CURRENT LIABILITIES Bank overdraft 60,020 Trade payables 356,226 Accruals 13,535 Current tax 100,000 529,781 Total Equity and Liabilities 1,425,748 Workings  £ Revenue 2,600,147 Less return inwards (15,106) 2,585,041 Cost of sales Opening inventory : Finished goods Cost of finished goods 250,000 1,682,170 Less: closing inventory of finished goods (95,478) 1,586,692 Factory cost of finished goods Manufacturing account  £  £ Opening inventory : raw materials 70,000 Purchases of raw materials 518,600 588,600 Less: Closing stock inventory raw materials (56,200) Raw materials consumed 532,400 Direct labour: Manufacturing wages 501,400 PRIME COSTS 1,033,800 Factory overheads Directors salaries : Factory manager 20,000 Maintenance of plant 30,102 Rent 35,320 Rates 39,192.50 Insurance 16,063 Light and hear 39,376.50 Factory power 30,014 Depreciation on plant 109,500 319,560 Total cost of production 1,353,369 Add: Opening WIP 126,000 1,479,360 Less: Closing W.I.P 47,190 Factory cost of finished goods 1,42,170 Value of closing stock/finished goods: 1,432,170 x 100 = 95,478 =95,478 1500 Expenses Distribution Administration Finance costs Transport 85,013 Directors salaries 40,114 Rent 7,064 Advertising 190,048 Rates 7,838 Insurance 3,213 Office salaries 101,776 Light and heat 7,873 Bank interest 7,070 Preference dividends (redeemable) 20,000 Salesmen salaries 64,237 Increase in provision for bad debts 4,000 Depreciation on new office block 2,600 office equipment 11,00 motor vehicles 30,000 General administration expense ______ 63,011 _____ 373,298 244,489 27,070 Workings for classification by nature Changes in finished goods and W .I. P Finished goods Work in progress TOTAL  £  £  £ Closing inventory 95,478 47,190 142,668 Opening inventory (250,000) (126,000) (376,000) Increase (decrease) (154,522) (78,810) (233,332) An increase is treated as a saving while a decrease is an expense . Depreciation Plant and machinery 109,500 New office block 2,600 Office equipment 11,000 Motor vehicles 30,000 153,100 Employee benefits Manufacturing wages 501,400 Factory manger salary 20,000 Director salaries 40,114 Office salaries 101,776 Salesman salaries 64,237 727,527 Other expenses Transport 85,013 Rent 42,384 Advertising 190,048 Rates 47,031 Insurance 19,276 Ling and heat 47,241 Plant maintenance 30,102 Factor power 30,014 Provision for bad debts 4,000 Bank interest 7,070 General administration 63,011 558,120 Property, Plant and Equipment Cost Depreciation to date Net Book value Office block 170,000 2,600 167,400 Plant and machinery 730,000 334,000 396,000 Office equipment 110,000 35,500 74,500 Motor vehicles 200,000 110,000 90,000 727,900 Prepayments and Accruals Prepayments Accruals Rates 3,140 Light and heat 1,214 Insurance 840 Rent 2,321 ____ Dividend on redeemable preference shares 10,000 3,980 13,535 Retained profits Balance c/d 42,475 42,475 Profit for the period 253,492 Retained earnings 295,967 Gross profit margin profit/sales= 998,349/2585041=38.62% Net profit margin profit/sales= 295,967/2,585,041=11% Differential 38.62-11= 27.62 Requirement 2.2 Utah textile Incomes statement for the year ending 31 December 2009 Sh. Sh. revenue 476000 Expenses Advertising expense 14500 Supplies Expenses 31500 Rent expense 12000 Miscellaneous expense 5100 Salaries expense 78000 Utilities expense 2500 (143600) Profit before tax 332400 Net income 109450 Total income 441850 Income tax expense (132555) Profit for the period 309295 Distribution to owners (48100) retained earnings 261195 Balance sheet as at 31 december 2009 Non Current Assets Sh. Sh. buildings 512000 land 90000 Current assets supplies 4250 account Receivables 95000 Cash 63000 162250 TOTAL ASSETS 764250 Ordinary Share Capital 310300 Retained Profits 261195 Shareholders funds 571495 Non-Current Liabilities mortgage payable 423400 Current Liabilities Trade payables 74300 Current tax 132555 Proposed dividends 48100 265400 TOTAL EQUITY LIABILITIES 764250 Requirement 2.3 Below is the group financial statement for Albar machinery distributors ltd. On October 1997 Albar purchased stake in Nguo. Later this group bought stake in kipi. BELOW UU Income statements for the year ended 31 March 2000 for: Albar Ltd Nguo Ltd Kipi Ltd Sh.m Sh.m Sh.m Revenue 1,368 774 685 Cost of sales (810) (407) (355) Gross profit 558 367 330 Distribution costs (196) (64) (78) Administration expenses (112) (73) (72) Finance cost (50) (20) 0 Profit before tax 200 210 180 Income tax expense (60) (60) (50) Profit after tax 140 150 130 Proposed dividends (150) (100) (100) Retained profits for the year (10) 50 30 Retained profits brought forward 713 610 420 Retained profit carried forward 703 660 450 Balance sheet as at 31 March 2000 Albar Ltd Nguo Ltd Kipi Ltd Noncurrent assets sh.m sh.m sh.m Property, plant and equipment 853 415 495 Investment in Nguo 702 Investment in kipi 405 1555 820 495 Current assets Inventory 368 200 190 Trade receivables 380 230 240 Cash at bank 120 115 91 Total assets 2,423 1,365 1,016 Ordinary share capital 900 200 100 Retained profits 703 660 450 Shareholders funds 1,603 860 550 Noncurrent liabilities 10% loan stock 500 200 0 Current liabilities Trade and other payables 140 175 346 Current tax 30 30 20 Proposed Dividends 150 100 100 Total equity and liabilities 2,423 1,365 1,016 Albar and Its subsidiaries Consolidated Income statement for the year ended 31 March 2000 Sh. Sh. Revenue 2,507.00 Cost of Sales (1,322.00) Gross Profit 1,185.00 Expenses Distribution Costs 338.00 Administration Expenses 261.00 Goodwill impaired 55.00 Finance costs 60.00 (714.00) Profit before tax 471.00 Income tax expense (170.00) Profit for the period 301.00 Profit attributable to: Holding Company 228.60 Minority interest 72.40 301.00 Consolidated Balance sheet as at 31 March 2000 Non Current Assets Sh. Sh. Property, plant and equipment 1,755.00 Goodwill 55.00 1,810.00 Current assets Inventory 728.00 Trade Receivables 808.00 Cash at bank 326.00 1,862.00 TOTAL ASSETS 3,672.00 Ordinary Share Capital 900.00 Retained Profits 957.20 1,857.20 Minority Interest 330.80 Shareholders funds 2,188.00 Non-Current Liabilities 10% Loanstock 600.00 Current Liabilities Trade Other payables 609.00 Current tax 80.00 Proposed dividends 195.00 884.00 TOTAL EQUITY LIABILITIES 3,672.00 Statement of retained profits b/f Yr C/f Albar 713.00 (25.00) 688.00 Share in Nguo 96.00 100.00 196.00 Share in kipi 69.60 3.60 73.20 878.60 78.60 957.20 Workings Albar As per the accounts 713.00 (10.00) 703.00 Add Divs receivable 80.00 80.00 Interest receivable 10.00 10.00 Less UPPPE (50.00) (50.00) Less Goodwill Impaired (55.00) (55.00) 713.00 (25.00) 688.00 Share in Nguo As per the accounts 610.00 50.00 660.00 Less preacquisition (490.00) ____- (490.00) 120.00 50.00 170.00 Less UPCS (10.00) (10.00) Add excess depreciation 10.00 10.00 Add Divs Receivable _____- 75.00 75.00