The Reform And Governmental Statistics On The United States

Since the passage of the ACA, a total of 14.1 million adults have acquired health insurance coverage, however, a distinction must be made; the ACA was created to expand health insurance, not to better health care (Office of The Assistant Secretary For Planning and Evaluation, 2015). Texas being the number one state in all of the U.S. with more than 5 million Texans (19% of the population) uninsured in 2014 (this was a decrease of 700,000 individuals in 2013) would be expected to hold great support in order to lower the high rates of the uninsured (Walters, 2015). In order to understand the impact that the ACA has had on the U.S., but especially in Texas, it is important to look at what state officials say concerning the reform and†¦show more content†¦Medicaid is a system of inflexible mandates, one-size-fits-all requirements, and wasteful, bureaucratic inefficiencies. Expanding it as the PPACA provides would only exacerbate the failure of the current system, and would threa ten even Texas with financial ruin (Perry, 2012). Perry’s strong opposition to the ACA makes it questionable whether the reform is for the benefit of the people or if it benefits the government monetarily. The current Governor of Texas, Greg Abbot, stated his thoughts of the ACA by stating, The Supreme Court abandoned the Constitution to resuscitate a failing healthcare law. Today’s action underscores why it is now more important than ever to ensure we elect a President who will repeal Obamacare and enact real healthcare reforms (Office of The Governor Greg Abbott, 2015). Senator Ted Cruz also expresses his thoughts on Obamacare as being a â€Å"manifest disaster† (Jones, 2015). On a live interview on the Road To The White House on C-Span Senator Cruz states, I think health care reform ought to expand competition, it ought to empower patients and it ought to disempower government bureaucrats from getting in between us and our doctors. I think the best way to do that, 3 concrete ideas. Our number one, allowing people to purchase health insurance across state lines†¦ number two as doctor Ben Carson talked about very effectively, expanding health savings account so

The Theory Of Child Development - 2414 Words

It is essential that early years practitioners have a sound understanding of theories of child development so they can offer activities that are appropriate for the child’s particular stage of development (Early Education, 2012). This essay will compare and contrast key features of developmental theories by applying them to a particular aspect of child development, the aspect that will be investigated is language acquisition. This essay will consider differing theories of language development such as the behaviourist theory proposed by Skinner (1957), the cognitive theory proposed by Piaget (1959), the natavist theory proposed by Chomsky (1965) and the Social-interactionist theory proposed by theorists including Vygotsky (1962). One of the key debates amongst developmental theorists is the role that nature or nurture plays in cognitive development. This essay will consider the emphasis that these theories place on the role of nature or nurture and consequently the role of the adult or early year’s practitioner in supporting and enhancing language development. The Early Years Statutory Framework (EYSF) (DfE, 2012) states that ‘children need to develop their skills and confidence in expressing themselves; and to speak and listen in a range of situations’ (DfE, 2012), over the last ten years legislation has placed more and more importance on the development of communication skills in the early years. An understanding of theories of development can inform practice in earlyShow MoreRelatedChild Development Theories1324 Words   |  6 PagesChild Developmental Theories Ashford University PSY 104 Child and Adolescent Psychology June 29, 2009 Child Developmental Theories While theorists have different ideas and perspectives, insight on child and adolescent development can assist teachers and parents in helping children reach their full developmental and learning potential. Having knowledge about the developmentRead MoreThe Theories Of Child Development1084 Words   |  5 Pagesimportant values and beliefs within their culture. All of this provides the foundations for cognitive development. As trainee teachers, it is fundamental that we have a deeper understanding of how children learn and how we can support learning. In order to do this we must first look at some of the theories of learning. Theories Prior to the early 20th century little interest was paid to how a child developed; indeed most early research appears to be based on abnormal childhood behaviour (Oates etRead MoreChild Development Theories1560 Words   |  7 PagesChild Development: An Examination of Three Theories There are a lot of theories regarding child development. Three of these theories are Bioecological Theory, Social-Cognitive Theory and Information-Processing Theory. This paper will discuss these theories by comparing and contrasting them. The first theory is the Bioecological Theory developed by Urie Bronfenbrenner. This theory is based on the nature vs. nurture idea. Bronfenbrenner believed development of a child was determinedRead MoreThe Theory Of Child Development858 Words   |  4 PagesSocial scientists have given us several theories on child development. There have been three influential theories that have really shaped how we look at the subject. Each one of these theories offers an insightful perspective that has been very influential in how we view child development. The first theory, we will delve into is George Herbert Meads Theory of the Social Self which focused on social interaction with developing human beings. Meads believed that, â€Å"a symbolic interactionist, saw theRead MoreThe Theory Of Child Development1053 Words   |  5 PagesArt educators that consider theories of child development when creating lesson plans, are more effective. As art educators, we understand that it is our respon sibility to educate ourselves on the latest research of art development in order to better serve our educational institutions through providing a quality art education for the future generations of innovators in America. Piaget’s stages of cognitive development stages thoroughly explain the biological transition that occurs in elementary schoolRead MoreThe Theory Of Child Development803 Words   |  4 PagesIn the early 19th Century, little attention was given to children development. Emphasis were based upon what a child would become as they get older( Green 2013)However, it was investigated by human developmental psychologist that Child development is relevant in relation to how individuals relate in the environment as well as the factors that influence human development. These psychologists developed the human developmental life span which is predominant in the society today, although remains unsubstantiatedRead MoreThe Theories Of Child Development1209 Words   |  5 PagesIntroduction to development psychology From the beginning of the history, child development was not given an importance but now majority of people have understood its importance. Attachment theory is one of the major theories of child development. According to Bowlby, attachment is characterized by specific behaviours in children, such as seeking proximity with the attachment figure when upset or threatened. There were number of issues that have been debated throughout the history of developmentalRead MoreThe Theory Of Child Development935 Words   |  4 Pages Lawrence Kohlberg was a developmental theorist who is best known for his specific and detailed theory of child development. Kohlberg believed that there were six stages of child development. He divided those stages into three levels of development. Level one; pre-conventional morality, a child doesn’t have a personal code of mortality and instead, their moral code is shaped by the standards of adults and the consequences of following or breaking of adult r ules. Level two; conventional moralityRead MoreThe Theory of Child Development1636 Words   |  7 Pages The theory of child development, Temperament, is what this case study is based off of. Temperament is a person’s style of reacting to the world and relating to others. I will be judging â€Å"Alice† on the nine temperament traits on a ten point scale. Alice is my 2 year old cousin who knows me well because I frequently babysit her. I recently observed her personality on the nine traits. These traits include; intensity, persistence, sensitivity, perceptiveness, adaptability, regularity, energy, firstRead MoreThe Theory Of Child Development878 Words   |  4 Pages Urie Bronfenbrenner was a developmental psychologist whose theory of child development really spoke to me. Relating to the microsystem and mesosystem was extremely natural for me. The microsystem is made up of the people or groups you have direct contact with, such as a professor or family member. The mesosystem is the interactions that occur between the microsystems, such as there being a family issue but that issue effecting not only yourself but causing you to have trouble at school or work place

I take goodness in this sense, the affecting of the weal of men, which is that the Grecians call philanthropia Essay Example For Students

I take goodness in this sense, the affecting of the weal of men, which is that the Grecians call philanthropia Essay I take goodness in this sense, the affecting of the weal of men, which is that the Grecians call philanthropia; and the word humanity as it is used is a little too light to express it. Goodness I call the habit, and goodness of nature, the inclination. This of all virtues, and dignities of the mind, is the greatest; being the character of the Deity: and without it, man is a busy, mischievous, wretched thing; no better than a kind of vermin. Goodness answers to the theological virtue, charity, and admits no excess, but error. The desire of power in excess, caused the angels to fall; the desire of knowledge in excess, caused man to fall: but in charity there is no excess; neither can angel, nor man, come in danger by it. The inclination to goodness, is imprinted deeply in the nature of man; insomuch, that if it issue not towards men, it will take unto other living creatures; as it is seen in the Turks, a cruel people, who nevertheless are kind to beasts, and give alms, to dogs and birds; insomuch, as Busbechius reporteth, a Christian boy, in Constantinople, had like to have been stoned, for gagging in a waggishness a long-billed fowl. Errors indeed in this virtue of goodness, or charity, may be committed. The Italians have an ungracious proverb, Tanto buon che val niente: So good, that he is good for nothing. And one of the doctors of Italy, Nicholas Machiavel, had the confidence to put in writing, almost in plain terms, That the Christian faith, had given up good men in prey to those that are tyrannical and unjust. Which he spake, because indeed there was never law, or sect, or opinion, did so much magnify goodness, as the Christian religion doth. Therefore, to avoid the scandal and the danger both, it is good, to take knowledge of the errors of an habit so excellent. Seek the good of other men, but be not in bondage to their faces or fancies; for that is but facility, or softness; which taketh an honest mind prisoner. Neither give thou ÃÆ'Æ’Ã ¢Ã¢â€š ¬ sops cock a gem, who would be better pleased, and happier, if he had had barley-corn. The example of God, teacheth the lesson truly: He sendeth his rain, and maketh his sun to shine, upon the just and unjust; but he doth not rain wealth, nor shine honor and virtues, upon men equally. Common benefits, are to be communicate with all; but peculiar benefits, with choice. And beware how in making the portraiture, thou breakest the pattern. For divinity, maketh the love of ourselves the pattern; the love of our neighbors, but the portraiture. Sell all thou hast, and give it to the poor, and follow me: but, sell not all thou hast, except thou come and follow me; that is, except thou have a vocation, wherein thou mayest do as much good, with little means as with great; for otherwise, in feeding the streams, thou driest the fountain. Neither is there only a habit of goodness, directed by right reason; but there is in some men, even in nature, a disposition towards it; as on the other side, there is a natural malignity. For there be that in their nature do not affect the good of others. The lighter sort of malignity, turneth but to a crossness, or frowardness, or aptness to oppose, or difficulties, or the like; but the deeper sort, to envy and mere mischief. Such men, in other mens calamities, are, as it were, in season, and are ever on the loading part: not so good as the dogs, that licked Lazarus sores; but like Ries, that are still buzzing upon any thing that is raw; misanthropi, that make it their practice, to bring men to the bough, and yet never a tree for the purpose in their gardens, as Timon had. .uc71038c0e3b8b636a4976b7f6098a2f3 , .uc71038c0e3b8b636a4976b7f6098a2f3 .postImageUrl , .uc71038c0e3b8b636a4976b7f6098a2f3 .centered-text-area { min-height: 80px; position: relative; } .uc71038c0e3b8b636a4976b7f6098a2f3 , .uc71038c0e3b8b636a4976b7f6098a2f3:hover , .uc71038c0e3b8b636a4976b7f6098a2f3:visited , .uc71038c0e3b8b636a4976b7f6098a2f3:active { border:0!important; } .uc71038c0e3b8b636a4976b7f6098a2f3 .clearfix:after { content: ""; display: table; clear: both; } .uc71038c0e3b8b636a4976b7f6098a2f3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc71038c0e3b8b636a4976b7f6098a2f3:active , .uc71038c0e3b8b636a4976b7f6098a2f3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc71038c0e3b8b636a4976b7f6098a2f3 .centered-text-area { width: 100%; position: relative ; } .uc71038c0e3b8b636a4976b7f6098a2f3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc71038c0e3b8b636a4976b7f6098a2f3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc71038c0e3b8b636a4976b7f6098a2f3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc71038c0e3b8b636a4976b7f6098a2f3:hover .ctaButton { background-color: #34495E!important; } .uc71038c0e3b8b636a4976b7f6098a2f3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc71038c0e3b8b636a4976b7f6098a2f3 .uc71038c0e3b8b636a4976b7f6098a2f3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc71038c0e3b8b636a4976b7f6098a2f3:after { content: ""; display: block; clear: both; } READ: Herbert George Wells was born on September 21, 1866 in Bromley, England, the last of four children EssaySuch dispositions, are the very errors of human nature; and yet they are the fittest timber, to make great pontics of; like to knee timber, that is good for ships, that are ordained to be tossed; but not for building houses, that shall stand firm. The parts and signs of goodness, are many. If a man be gracious and courteous to strangers, it shows he is a citizen of the world, and that his heart is no island, cut off from other lands, but a continent, that joins to them. If he be compassionate towards the afflictions of others, it shows that his heart is like the noble tree, that is wounded itself, when it gives the balm. If he easily pardons, and remits offences, it shows that his mind is planted above injuries; so that he cannot be shot. If he be thankful for small benefits, it shows that he weighs mens minds, and not their trash. But above all if he have St. Pauls perfection, that he would wish to be anathema from Christ, for the salvation of his brethren, it shows much of a divine nature, and a kind of conformity with Christ himself.

Anti-Money Laundering Mantas Solutions Essay Example

Anti-Money Laundering Mantas Solutions Paper As an overview, Mantas began as a business unit focusing on meeting the demands Of an ever-changing global financial services industry. In the mid-sass, the Mantas team began work as a business unit of SARA International, Inc. Focusing from the start on meeting the needs of the global financial services industry the first Mantas products addressed trading compliance and best execution for the National Association of Securities Dealers(NASA) and Merrill Lynch. Today, both systems remain in operation with the NASA Advanced Detection System monitoring every trade that goes through the NASDAQ and Merrill Lunchs BEAMS helping that fire-l lead the industry in Best Execution evaluation. Recognizing the value this technology could provide, SARA International in readership with Safeguard Scientific, Inc. , a developer and operator of emerging infrastructure technology companies, spun-off Mantas, Inc. , in May 2001. In October 2003, Safeguard Scientific, Inc. NYSE: SAFE) made an additional investment in Mantas. This investment was directed towards continued global expansion and product advancement. Today, Mantas provides more than five thousand professionals in financial institutions worldwide with analytic applications that concentrate on risk management, performance management, fraud detection and operational analysis needs to improve business. The company primarily focuses on enterprise-wide anti-money laundering, surveillance and trading compl iance software. We will write a custom essay sample on Anti-Money Laundering Mantas Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Anti-Money Laundering Mantas Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Anti-Money Laundering Mantas Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Some Of the companies that Mantas provides its services to include: BAN Omar, Barclay Capital, Charles Schwab, Citibank and Merrill Lynch. These companies receive solutions that address their risk management, performance management, fraud detection and operational analysis needs. Mantas, Inc. Is a global software company that has developed a behavior detection technology that allows businesses to identify undiscovered risk and opportunity. They recently were honored in 2003 from Waters Magazine, for their Behavior Detection Platform, receiving the Best Compliance Solution award. The company has also been ranked as a leading compliance vendor in reports from Trouper, Client Communications and Butler Group. The Mantas steward programs acts as a starting point to improve business applications, It provides reliable protection in different areas such as: changes in regulatory culture, loss prevention applications that can expose unseen risks and losses, revenue generation applications th at identify opportunities for institutions to increase revenues, improving customer attestation and reducing cost of sale. Room their website the services that Mantas provides include: Regulatory Compliance: Mantas Anti-Money Laundering Mantas Trading Compliance Mantas Broker Compliance Mantas Mutual Fund Compliance Mantas Advance Mantas Select Loss Prevention: Mantas Fraud Detection Mantas Operational Risk Analysis Revenue Generation: Mantas Client Assurance The behavior detection technology that Mantas provides to its different financial institutional clients is one of the industrys most complete solutions for avoiding risk, surpassing regulatory requirements, and enhances client relationships. The software is able to analyze the different behaviors of the people within a corporation. It starts with the customer, moving onto the employees and then finally to the corresponding partners in every transaction that takes place. It is able to do this without time constraints, letting its customers see the different trends and patterns for the past, present, and future. Being able to do this allows people using Mantas to analyze and sort through different decisions with accuracy and confidence. Mantas allows its customers to fully understand their business increasing their ability to decide between Which risks ND opportunities they are willing to take. By making their product user friendly and the results easy to understand, Mantas has become one Of the industrys leaders for compliance regulations and analytical data distribution. The amount of information that Mantas can handle is superb. For just one independent client they are able to process over one hundred billion fields of data on any given day. In addition to their user friendly benefits, Mantas Scenarios are already coded, tested, and ready to use, enabling customers to realize benefits much sooner than with other, more time-consuming alternatives. There is no learning take, or fuzzy-adaptive-black box scheme to run. We code it in right from the start because we understand the business and the business user. Mantas gives financial institutions and communications seer. ice providers the ability to monitor and analyze customer, performance and transaction information across the entire organization for a complete and accurate picture of behaviors of interest. As result, its now possible to detect suspect behavior early enough to mitigate risk, report and prioritize findings without manual intervention, comply with changing regulations, increase revenue by improving operations, and identifying up-sell and cross-sell opportunities. Using advanced knowledge and technology developed together with banking and brokerage experts, the services Mantas provides can collect and analyze transaction data, while then sorting through what is relevant and the information that is going to need a course of action. This information allows their clients to be able to confidently assess what different areas throughout the entire organization are in need of improvement. Whether it is detecting suspicious behavior as in the forms Of money laundering, which this paper will further explore, or if is analyzing the different trends n the market, Mantas is able to report and prioritize its finding Without any manual intervention. The Mantas technology platform utilizes multi-strategy data mining algorithms that detect patterns. It is a Web-enabled, end-to-end solution that includes data preparation and transformation; data mining and pattern analysis; pattern detection and alert management; proven scalability; open architecture; and integration with ALARM and workflow tools. For brokerage firms: Mantas provides products addressing best execution, equities trading compliance, SEC disclosure, and anti-money laundering and fraud. For banks: Mantas offers products for anti-money laundering and fraud, including surveillance of wire transfers, checks and monetary instruments, and electronic/ Internet transactions. For exchanges: Mantas provides products addressing market regulation and integrity, fraud, and customer relationship management The problem Money laundering is quite a large occurrence which happens with illegally earned money. Money which is received through illegal transactions such as illegal arms sales, trafficking of illegal narcotics, prostitution, illegal alien smuggling is sent through either legitimate businesses or banks to clean the money and not sake it questionable in the eyes of the public, and therefore in the eyes Of the United States government. Without the large amounts of dirty money which is later cleaned through laundering international organized crime would not be able to function. Even mentioned in a 1997 House Committee of International Relations meeting on the Threat Of International Organized Crime and Terrorism, Louise Shelley stated: Transnational organized crime will proliferate in the next century because the crime groups are among the major beneficiaries of globalization. Benefiting from increased travel, trade, telecommunications networks and computer links, they are well positioned for growth. The MIFF recently estimated that the proceeds of the drug trade now contribute 2% of the worlds economy. If the money from tax evasion and other illicit activity is added, the total is several times larger. Organized crime groups in the next century will control an even larger share to the worlds economy because the illicit share of the worlds economy grows annually. Illegal businesses are highly profitable and remain untaxed. Two percent of the worlds economy is dirty money and that is quite a lot, also acting in that many places in the world are not financially in the best state that they could be. Some countries even profit from the illegal drugs produced in their country which are shipped out, used, and then the money which is gained through the sale of these illegal products is then laundered and funneled through many different mediums to make the money that was made seem legitimate. Also in that same speech as previously stated, she also claimed: International organized crime groups are the reverse of legitimate multi- national corporations. Most major multi-national corporations are based in the industrialized world and market to the developing world, whereas transnational organized crime groups are largely based in developing countries and market to the developed world. Extremely profitable, they are even harder to regulate than the multinational corporation Whose activities span countries, and their growth has been prolific. Furthermore, the incentives for control are not there. Many countries lack economic alternatives and crime groups become dominant economic and political forces. Off-shore banking centers thrive in such settings, drawing money steadily from countries with powerful crime groups and eager tax evaders. High level corruption also impedes action against these groups. Lack of harmonize legislation and the absence of mutual legal assistance treaties make it impossible for foreign powers to effectively act against the crime groups. There are three stages of money laundering: placement, laundering and layering, and integration Placement is the placing of the illegal funds in the financial system and can be done either directly or indirectly, Directly a person gives cash deposits or drops sealed bags off at the bank or financial institution. Indirectly the use of a front is used, basically a fake organization that sounds like a viable equines. From there the actual laundering occurs. The main idea is to break a paper trail or an audit trail, Vichy in essence could prohibit them from being found out. Criminals would use many different transactions, bank accounts, institutions, and jurisdictions. The criminals would use many different banks and even use banks in different countries out of the main country that they are having illegal practices in. The actual integration Of the money cannot be related to its criminal origin and is even invested into legitimate and legal businesses and investments; this further launders the money because any profit made Off Of hose investments is clean. Some more examples of money laundering situations are; misuse of a not for profit organization, informal money or value transfer systems, entry of illegal funds and layering of illegal funds into the securities sector. Setting up a company as a front is a well known way of money laundering and the use of false or stolen identities, or documents. This increasing problem in the United States and the world pressured computer programmers and software companies to develop and produce tort wide use a system that would monitor transactions and bring attention to any account or accounts that have questionable activity. An example to this is, large amounts of money being deposited at any one time, or difference in consistence of money being deposited. Money that goes from being deposited weekly, from $1 SO to all of a sudden tens of thousands or hundreds of thousands of dollars would set off an alert in the system. Anti- Money Laundering systems have been used ever since the LISA Patriot Act in 2001, banks and brokerage firms have to file any suspicious activities with the government, or must meet the harsh penalties In most cases being a really large fine. Any bank or firm that does not comply can be fined anywhere in the upward mount of SSL million. The agencies that were monitored also included all lending firms and Other financial institutions that deal with monetary transactions between multiple clients. Such things that raise a red flag to the systems are a customers employment history not matching their investment, large sums Of money being entered from this employee which is more then he or she has ever entered previously. Large numbers of individuals depositing into the same one account also brings attention to the account, and from there on brings attention to the client who formed the account with the bank. The depositing of large amounts of money onto cash safes, at night, so that the person depositing the money does not have to deal with any of the staff that works at the bank or financial institute. The main global policy making body that controls the framework for anti- laundering is the Hannibal Action Task Force or FATE-. They develop and research any threats and also get companies to update their systems according to their data that was picked up through the research, The FAT F develop and promote international policies to wage war against the large problem of illicit funds being laundered, The PATE makes constant reviews and recommendations; originally hey had 40 recommendations which were updated in 2003 and continue to be updated to make it relevant and reflect to the increasing sophistication of the launderers and then make increased requirements for all financial systems are needed to combat them Systems are based on these guidelines set by the PATE, and all Of the research that they have done in the field of the financial transactions. These findings have made a difference in the production Of the software Which protects the computer systems of all the many companies and organizations that might have been under the threat of illegal occurrences. These more accurate programs further halt the money laundering that may have happened or is happening in a company. The laundering that might have happened in the past can be traced and the proper authorities will be informed. Money laundering being such a global problem has all financial institutions and banks around all working together. Information is shared and systems are constantly updated. In some cases the information that has been shared even makes the users to a particular system pay more attention to the certain aspect of the system. These systems are an especially important factor in the discovery f money launderers and in essence larger criminal activity that is occurring around, domestic and global, Criminal organizations can also be found through tracing the hints given off by these anti-money laundering systems. There are many different systems all based off of these same requirements, CEO of Mantas; Simon Moss even described the people involved with money laundering operations as being C probably better business people then we are, from the assumption that every time a new security recommendation comes out the launderers are already on their way to finding another medium to launder he money. The money launderers always change what they do, keeping nothing a constant. He later also says about the money launderers, that they Shave assets at their disposal that essentially skim the financial institution, by being able to enter the market, say, in Asia, and exit the financial institution in Europe or in the IL. S. , or enter through a private banking relationship in one geography, but then exit through a brokerage relationship in another . Mantas has become possibly the set standard when comes to Anti-Money Laundering or ML Briefly, Mantas is a system which is easy to use and stays insistent with the information it receives. Some of the benefits reported from using this system include: comprehensive scenario coverage, advanced alert generation and workflow, customized thresholds and risk scoring, and enterprise-wide compliance . As told on the official Mantas Anti-Money Laundering site; Comprehensive Scenario Coverage, where the clients realize greater protection with the Mantas system and faster time to compliance with Mantas industry-proven scenario libraries that provide comprehensive coverage of money laundering behaviors. These behaviors are known from past money laundering investigations, which ere entered into the library. Advanced Alert Generation and Workflow, is a patented analysis technique that detects key behaviors of interest which indicate money laundering, a good example of this is the connections and relationships between different accounts. The alerts also provide a plethora of business data and historical information relevant to the accounts, and finishes by securing a resolution. The Customized Thresholds and Risk Scoring enables the financial institutions to shorten the investigation times and better manage risks to the system itself. In addition the user can also change the weightings for individuals r businesses to scrutinize activities because of certain suspicions. Enterprise. Wide Compliance, Mantas Anti-Money Laundering systems support all types of businesses in different geographical locations, with the same effectiveness throughout. The Solution Mantas offers a wide range of services, tools, and applications to more than 5,000 professionals worldwide to improve their businesses. Mantas was originally designed for the largest and most sophisticated financial institutions, but is now used by many smaller institutions as well. All of Mantas services and applications ay be found in one package called the Mantas Behavior Detection Platform This platform serves as a foundation for an ever increasing set of business assurance applications. A firm or business may decide that they do not need the extra functions and applications that are in the platform; Mantas understands this and offers most of their products in separate forms as well. An example of a few of the other small products that Mantas offers includes: Mantas Loss Prevention, Mantas ONE, Mantas Advance, Mantas Select, Mantas Broker Compliance, Mantas Trading Compliance, Mantas Mutual Fund Compliance, Mantas Client Assurance, Mantas Case Management and Mantas Anti-Money Laundering. The Mantas Behavior Detection Platform was a fifteen year long project that includes all Of the tools and applications that Mantas has to Offer. Every application is different and affects various aspects of the corporation or firm. During wartime, especially the war on terror, institutions have to become more aware of fraud and money laundering. The Mantas Anti-Money Laundering application helps regulators clamp down on loopholes in the systems that hackers, crackers, and even terrorists might abuse, This application is combined tit the entire behavior detection platform and is used to monitor accounts, customers, and correspondents across business systems for suspicious activities and possible money laundering. Mantas platform takes a look into hidden relationships between accounts to find possible money laundering activity, These relationships are the key for how money laundering operates, and the platform will automatically highlight these relationships, Analysts will be alerted to the detected behaviors and they will be provided with the entire context of the business data and historical information o help them find a solution. The Mantas platform is very intelligent and is capable of being used internationally. The platform supports different market structures, monitoring across global markets and can accommodate characteristics of different exchanges and currencies. The platform is also configurable to meet the specific business requirements from each company. Big corporations may have some personal requirements that include: discreet compliance jurisdictions, varying secrecy laws, and operational constraints. Money laundering typically operates across national boundaries and Mantas yester is capable of monitoring global operations that criminals may run. The Mantas system is derived from their use of behavior detection technology, (Pictured Above) This relatively new system is how Mantas is capable of detecting money laundering before, or as it actually happens. The technology allover companies to detect wrongdoing by finding suspicious patterns to behavior buried and hidden within all volumes to data. Criminals who use computers for money laundering crimes leave behind an electronic trail of data. This data reveals the story of their fraud by recording many critical events. Poor example, deposits, withdrawals, wire transfers, account openings, changes in power of attorney, trades, orders and quotes can all be recorded and logged. Criminals often use separate entities to carry out their schemes, establishing accounts under different names using a variety of financial products such as insurance policies or securities, and employing different traders All of this data is captured and stored and analysts can backtrack to find out exactly how and when these events took place. Mantas helps distinguish the order in which the events took place, and this helps decide of the behavior is fraudulent or innocent. According to Mantas-corn: The key to behavior detection technology is its ability to identify suspicious events and entities that build over time, separate them from normal everyday events, and then to zero in on the wrongdoers. Without this sophisticated technology, is likely that many suspicious behaviors Will go undetected for long periods Of time or not be uncovered at all. There are many challenges that the behavior detection system must face. For instance, the chief challenge is the sheer volume of data that must be examined. The suspicious behavior in question almost always is composed of many events ND entities. Any single transaction in isolation may look normal, but it is only when the transactions are linked to all the other relevant transactions that it becomes suspicious. For example, a trade by itself looks normal, but in the context to other trades it may become apparent that it is part to a market manipulation scheme, A hank account by itself looks normal, but when that saran account is linked to other accounts, a money laundering ring might be shown. The CEO of Mantas, Simon Moss explains more about the challenges in an interview by saying: Regardless of size, banks face four challenges. Cultural ML is seen in many institutions as a problem to be solved at the business unit or geography level. This is a fundamental mistake. Money laundering is a cross-geography, cross-branch and cross-business challenge. Regulatory The lack of data and uniformity across the market will always lead to systemic weaknesses. Training and Process Technology is irrelevant if processes are not implemented and followed. Once these three challenges are addressed, a technology decision can be made. The result is better selection Of a solution, better ROI and better compliance. The system is so advanced that it is capable of finding suspicious events and entities that are buried in between millions of legitimate events and entities. It uses relationship examination between the events to find strange activity. The intelligent behavior detection system is able to choose which relationships to examine and which to filter out. This behavior system is forced to play a game of cat and mouse with criminals. Once a criminal is caught by the system, they are forced to try a more sophisticated approach. In the same way, the Mantas system is forced to upgrade and update to find new measures to protection. First generation detection solutions have been part of the financial community for a long time. These solutions work by establishing a fixed rules-based threshold by analyzing how certain established usage scenarios comply within the Most financial institutions will establish a threshold based on a set of monetary value for each transaction, flagging any transaction over a certain level. There are three main areas where first generation systems had problems. The first area is when transactions are below defined thresholds. This means that the system was unable to detect money laundering schemes f smaller amounts that may come in under an established threshold limit. An example Of this would be a criminal making several smaller deposits into several accounts instead of large deposits. The second area where problems arose was false positives. These are transactions over a set limit that are marked as suspicious but that do not represent any existing identified risk. These transactions caused Old systems to take focus Off Other transactions that might be a true money laundering risk. The third area is behavior profiling. This is defined as the process where current industry information is used to profile and infirm certain patterns of suspicious laundering activity. An example of this would be comparing an electronic store to others in the industry. For example, all electronic stores sales usually drop during the spring but the system picked up one store that stayed the same and this became suspicious. This was not a very sophisticated method and federal regulations demanded more in depth and sophisticated information systems that are able to generate greater knowledge of the customer or user. Mantas has improved on the shortcomings associated with the first generation anti-money laundering systems. The Mantas Anti-Money Laundering System has the ability to uncover suspicious financial activities by identifying the specific individuals or organizations that may be involved. This new system is able to learn and adapt, comprehending new money laundering schemes as they arise. The system takes an enterprise-wide approach, determining every transaction that is unusual as opposed to looking for a specific pattern or behavior while analyzing both the client profile and the transactions undertaken by the financial firm. Mantas system is made up Of four basic risk assessment components that ensure full disclosure and reporting necessary for compliance with the federal statutes. First the system looks at Client Risk Assessment. This relates to accessing a wide variety of detailed information relating to the customers account. This is typically collected at the time the account is opened. Mantas system looks at every type of analytical activities that are part of the clients profile. For example, the system will list all names of other individuals that are affiliated with the account, it will list high risk countries that are associated with the account, it will list the channels that are used by the account holder and actions of the branch office and it will also list business relationships that are associated with the account. Secondly, the new system will look at Transaction Risk Measurement. This is when the system views transactions that are determined to be of a higher risk and can vary from organization to organization based on their lines and type of business. Poor example, the risks associated with transactions from a bank would be different from those associated with an insurance agency or a securities firm. These transactions fall into three categories: fund related behaviors, transaction elated behaviors, and miscellaneous behaviors. Fund related behaviors include transactions that generate receipts into the firm or payments made by the firm. Transaction related behaviors relate to behaviors where transaction values fall above specified limits and are apart from established internal guidelines that can pose higher levels of suspicious activity and risk of money laundering. Miscellaneous behaviors refer to frequent changes in an account and activities that show movement of funds without a corresponding trade and the deposit of excess money into an account. The third component of the Mantas Anti. Money Laundering system is the behavior detection technology. Mantas has an entire platform of programs dedicated to this field, but it is also a big part in their ML system. This component manages the complex behavior that is commonly associated with money laundering schemes. This technology allows the firm or corporation to find suspicious patterns of behavior that may he hidden in between large volumes of financial data. The main key to this technology is the ability to identity/ suspicious events and entities that are built over time; this is what separates them from normal every day events and transactions. The behavior detection technology consists of four main components: scenarios, thresholds, alerts, and look back periods. Scenarios are a combination of rules and conditions which define the transaction pattern that is being detected. Thresholds are triggers that inform officials to potential scenarios. Alerts are the discovery of actual fraud Alerts go off when there is a match of potential money laundering fraud. A look back period is a length of time monitored for a scenario in each run of the detection process. The time that is logged is usually dependent on the type of behavior that is being monitored. The last component of Mantas system is Workflow and Reporting Tools. These tools aid financial institutions in the workflow and reporting process. They consist of case management, record keeping, and reporting. Case management provides an alert analysis workflow that is integrated with basic compliance reporting tools. Alerts that are generated from the Mantas Anti-Money Laundering System are pushed into these tools for further investigation. Most of the time, companies of firms alter these case management systems to be unique to their own standards. Record keeping is the ability to remain in compliance tit federal laws that require the institutions to preserve their records for specific periods of time. This software allows scanning, imaging, indexing and electronic storage of the physical transaction documents, The software allows easy accessibility and retrieval tooth information. These documents are usually used to assist a money laundering investigation, The reporting features is an add-on feature for both the transaction monitoring and watch list filtering solutions that generate suspicious activity reports, and current transaction reports. Federal regulators typically use these to make customized reports during an investigation.

Research of the companys cases an Example of the Topic Business Essays by

Research of the companys cases Mr Ian Dunno: Dear Sir: We have done an extensive research on the two situational cases you have hired us to do. Our research delved on Australian Accounting Standards Board Pronouncements. Part one focuses on the timing difference between the amount that the company reports as net income subject to tax and the amount that the tax laws require the companies to pay. The second part deals with the basic theory of when to recognize revenue from the sale of website related software and the website development and maintenance services. Need essay sample on "Research of the company's cases" topic? We will write a custom essay sample specifically for you Proceed Basis for the us of AASB presentation of the Financial statements The basis for the preparation of the financial statements is to serve as a tool for their decision meeting. The software customer needs the financial statements to determine whether to continue buying from the company or look for other competing suppliers to fill the customers' needs. The suppliers need the financial statements to determine if whether to approve the company's credit loan application. The board of directors will use the financial statements to determine if they will have to set up more software branches. The Australian government needs the financial statements to determine if the company has been implementing its pollution laws. The employees are also interested to get a copy of the financial statements to determine if the company in order for them to decide when to ask for a salary increase. The following topics are focused to serve these users. College Students Usually Tell Us: I'm not in the mood to write my essay. Because I want to spend time with my girlfriend Essay writers propose: Follow Essaylab Writing Service I. Timing Difference AASB 112 states that the timing difference between taxes paid and the tax expense is a normal, legal and Tax agency approved scenario. A future tax liability or asset results from the temporary differences between the accounting book value of assets liabilities and their tax value. The timing difference here is amount that varies between the net profits or losses reported in the accounting books and the amount that taxes to be paid. They are differences between the book value of the assets or liability recorded in the balance sheet and income statement and the amount that should be reported in the financial statements that include the balance sheet and income statement in compliance with Australian tax laws. The reason is obvious. The recording accounting transactions by the accountants hired by the companies are governed or based Australian International Accounting Standards. The international accounting standards state that the profits presented in the financial statements like the income statement should be based on accrual basis of accounting. There are two kinds of sales. They are the cash sales and the credit sales. Cash sales occur when the customer pays up front the amount of the purchase immediately upon receiving the goods bought. Credit sales occur when the customer receives the goods and promises to pay the amount at a letter date. The net profit includes sales from On the other hand, the amount that the company must pay to the Australian tax agencies are based on the Australian income tax laws. The Australian Tax law states that the amount of tax should be based on actual cash collections. For example, the company bought a factory equipment for Au$1,000. The company depreciates the assets under the straight line method for four five years. However, the company reports to their tax collecting agency that their asset is depreciation using the reducing balance method. Assume the corporate tax rate is 35%. The company would realized a deferred tax liability for year 1 and 2 because its book value was higher than the tax value. However, the 3rd and 4th year shows a tax asset because the company's asset value is lower than the income tax value. The company has not underpaid income tax in this case so there is no need for any adjustments. II. Revenues and Expenses Revenues The basis for the revenue for the sale of the products and services of Medium Pty. Ltd. is AASB 118 (Revenue). The Australian Accounting Standard Board stated in its pronouncements stated in its AASB 118 (Revenue) that revenue (Section 1)is recognized when it is probable that future economic benefits will flow into the organization and these benefits are measurably reliable. It further provides that revenue can be generated from the sale of goods or the rendering of services. The Medium Pty. Ltd. should record the maintenance revenue from the offer of services to set up a website. The maintenance services that are offered keep the customers' websites in tiptop shape should also form part of revenue from services under the same AASB 118. Section 4 of AASB 118 also states that rendering of services includes the performance of the organization of a contractual agreed task over an agreed period of time. The services may be performed within a single period or over more than one period. AA SB 102 states that the software shall form part of inventory. AASB 101 states in section 82 that the statement of comprehensive income should DISCLOSE line items that present under the following titles during the period. Revenue, finance costs, share of profit or loss of associates, tax expense, and a single amount representing other expenses. Expenditures AASB 132 interpretation states that all costs of documenting the specifications of the website, including the technology to be implemented to achieve the desired website, revenue, and expense results should be expensed. The expenditures should be dealt with in accordance with AASB accounting standards. Market research costs for assessing the feasibility of the project should be recorded under research and development expenses. These are expensed outright on day of the expense occurrence. Staff training for website development should fall under salary expenses since website development is an ongoing day to day operating activity. Costs relating to the development of the website software like licensing expenses. The computer hardware use in the development of the software should form part of office equipment Asset. It will be depreciated over its useful life. Internal Staff employment expenses should form part of the Administrative operating expenses of the company. Promotion and advertising to launch the new website development should fall under the marketing operating expenses of the company and expensed when incurred. Staff training in use of website software should form part of salaries expenses. CONCLUSION The sales of the customized software will form part of the revenues of the company. The sale of the two year performance contract would be part of the service revenues of the company. The amounts for cost of developing should form part of the operating expenses. In addition, the difference between the tax amount and the accounting book amounts is because of the difference between the accounting standards and the tax laws. Reference AASB 118 Revenue recognition. Australian Accounting Standards Board, retrieved Oct 5, 2008, http://www.aasb.gov.au/admin/file/content105/c9/AASB118_07-04_%20COMPapr07_07-07.pdf AASB 101, Presentation of Financial Statements, Australian Accounting Standards Board, retrieved Oct 5, 2008, http://www.aasb.gov.au/admin/file/content105/c9/AASB101_09-07.pdf AASB 102, Inventory, Australian Accounting Standards Board. AASB 132 interpretation, Intangible Assets. AASB 112 Income Taxes.

10 Facts That Private Schools Want Parents to Know

10 Facts That Private Schools Want Parents to Know If you are considering sending your child to private school, here are 10 facts about private schools which all prospective parents should know. The data and information provided here should answer most if not all of your biggest questions. 1. Private Schools Educate About 5.5 Million Students According to the National Center for Education Statistics, there were approximately 33,600  private schools in the U.S. in 2013-2014. Together, they served approximately 5.5 million students in grades pre-kindergarten through 12 and the postgraduate year. Thats about 10% of students in the country.  Private schools cover just about every need and requirement you can imagine. In addition to college prep schools, there are special needs schools, sports-focused schools, art schools,  military schools, religious schools, Montessori schools, and Waldorf schools. Thousands of schools focus on high school and offer college preparatory courses. About 350 schools are residential or boarding schools. 2. Private Schools Offer Great Learning Environments Its cool to be smart in a private school. The focus in most college preparatory schools is on getting ready for college studies. Advanced Placement courses are offered in most schools. You will also find IB programs in about 40 schools. AP and IB courses require well-qualified, experienced teachers. These curricula are demanding college-level studies which allow students with high scores in the final exams to skip freshman courses in many subjects. 3. Private Schools Feature Extracurricular Activities and Sports as an Integral Part of Their Programs Most private schools offer dozens of extracurricular activities. The visual and performing arts, clubs of all kinds, interest groups and community service are just some of the extracurricular activities you will find in private schools. Extracurricular activities complement the academic teaching which is why schools emphasize them - they are not something extra. Sports programs combine with academic work and extracurricular activities to develop the whole child. Most private schools require their students to participate in some sport. Teachers are also required to be involved in coaching a sport. Because sports and extracurricular activities are such an integral part of a private school program, you rarely see cuts in these areas as we have seen in public schools when budgets get tight. 4. Private Schools Provide Constant Supervision and Have Zero-Tolerance Policies One of the appealing aspects of sending your child to private school is that she cannot fall through the cracks. She will never be a number at a private school. She wont be able to hide in the back of the class. In fact, many schools use the Harkness style discussion format for classroom teaching. 15 students sitting around a table have to be involved in the discussions. Dormitories in boarding schools typically are operated family-style with a faculty member being the surrogate parent. Somebody is always around keeping a watchful eye on things. Another feature of private schools is that most have a zero-tolerance policy when it comes to serious infractions of their rules and codes of conduct. Substance abuse, hazing, cheating, and bullying are examples of activities which are unacceptable. The result of zero tolerance is that you can be assured that you are placing your children in a safe environment. Yes, she will still experiment but she will understand that there are serious consequences for unacceptable behavior. 5. Private Schools Offer Generous Financial Aid Financial aid is a major expense for most schools. Even in tough economic times, schools have made assisting families who want to send their children to private school a top priority in their budgets. Several schools offer a free education if you meet certain income guidelines. Always ask the school about financial aid. 6. Private Schools Are Diverse Private schools got a bad rap in the early part of the 20th century as being bastions of privilege and elitism. Diversity initiatives began to take hold in the 1980s and 1990s. Schools now proactively search for qualified candidates regardless of socioeconomic circumstances. Diversity rules in private schools. 7. Private School Life Mirrors Family Life Most schools organize their students into groupings or houses. These houses compete with each other for all kinds of things besides the usual sports activities. Communal meals are a feature of many schools. Teachers sit with students developing close bonds which are such a valuable feature of private school education. 8. Private School Teachers Are Well-Qualified Private schools value teachers who have degrees in their chosen subject. Typically 60 to 80% of private school teachers will have an advanced degree as well. Most schools require their teachers to be licensed to teach. Most private schools have 2 semesters or terms in their academic year. Many prep schools also offer a PG or post-graduate year. Some schools also offer study programs in foreign countries like France, Italy, and Spain. 9. The Small Size of Most Private Schools Allows Plenty of Personal Attention Most college prep schools have about 300 to 400 students. This relatively small size allows students plenty of individual attention. Class and school size matters in education, as it is important that your child not fall through the cracks and just be a number. Small class sizes with student-to-teacher ratios of 12:1 are fairly common. The larger schools usually include prekindergarten through 12th grade. You will find that they actually consist of 3 smaller schools. For example, they will have a lower school, a middle school, and an upper school. Each of these divisions will often have 300 to 400 students across four or five grades. Personal attention is an important part of what you are paying for. 10. Private Schools Are Sustainable More and more private schools are making their campuses and programs sustainable. It has not been easy for some schools because they had older buildings which were not energy efficient. Students in some private schools even compost waste food and grow some of their own vegetables. Carbon offsets are part of sustainability efforts too. Sustainability teaches responsibility within the larger global community.   Edited by  Stacy Jagodowski

KATARIAN RESPECTING PATIENTS AUTONOMY Coursework - 1

KATARIAN RESPECTING PATIENTS AUTONOMY - Coursework Example Consequently, a hypertension care plan must be drafted at first. 2. Next, Miss Downs must pay more frequent visits to the patient and consistently labor to build confidence and engage in dialog. Miss Downs must tell her about cleaning herself. She must show firmness over the issues regarding proper sanitation. 3. After the initial counseling, there is less likeliness of a discernable effect. The reason is that Miss Jenkins has already got very much habituated in her appallingly untidy way of life. So, it should be clearly understood and elucidated at this stage that Miss Downs cannot come to see Miss Jenkins again and again and do the things like clearing her bedpan and mending her footwear. 4. Next, Miss Downs must first collect necessary feedbacks and reports from the neighbors of her patient. Then, she should utilize community care manpower for removing Jenkins from her place. This is to be done by force if necessary in the presence of a qualified gerontologist. 5. Finally, Jenkins would be referred to the community fiduciary. Psychiatric intervention will be immensely necessary at this stage. Medics experienced in handling psychiatric cases can figure out if Miss Jenkins is suffering from any mental disorder that makes her reluctant to clean herself. The matter of cleaning oneself cannot be left to one’s sole personal discretion. If there is an outbreak of a communicable disease (for example, influenza), then an old, untidy person is highly vulnerable. Moreover, Miss Jenkins lives alone and she won’t be able to take care of herself if she develops problems like skin disease or severe dysentery due to untidy living. She may also fall prey to food poisoning if she does not wash her hands before taking her meals. Instead of high level philosophical thinking, some practical work has to be done in this scenario. Experts like Bondeson and

Paraphrase the paper Essay Example | Topics and Well Written Essays - 750 words

Paraphrase the paper - Essay Example r important aspect of human trafficking is the technique use, for instance trafficking can be done through threats and force, where one is taken without his or her consent. Abduction and deception could also be other techniques (UNHCR 2). The intention behind the trafficking is the third aspect of human trafficking. This entails the main agenda behind act of trafficking, for instance it could be for slavery purposes. The final aspect of human trafficking is the outcome of the act, for example, death of the victims, or arrest of the offenders by authority. Slave trade is the business of selling human slaves form by one owner to the other. Slavery was mainly on the basis of racism and discrimination. The culture of the slave trade consists of a couple of aspects. The first aspect of the slave trade culture is brutality. The owners of the slaves did not care that slaves were human, and; thus, treated them in a brutal manner. The second aspect is cruelty, where the slaves were treated in ways that were cruel and undignified way. The third aspect is exploitation. The slave owners exploited the services of the slaves and did not offer payment for their labor. Dehumanization of the slaves was another aspect. The treatment of the slaves by the owners was inhuman, for example, the slaves were beaten and forced to work without rest. The final aspect is the treatment of slaves as goods; where slaves were sold form one owner to another just like goods are sold (UNHCR 2). Everyone has a right, According to Amnesty international and other bodies of human rights. However, slavery violates some of these rights in relation to the documentary sex slave. For instance, right to movement, right to make one’s own decisions, rights to speech, right to own property, and the right to dignity. There are ways by which the state determines a citizen legally. Birth is one fundamental way the state uses, where a person is legally considered a citizen of a State if he or she is born in the

The TJX company Essay Example for Free

The TJX company Essay The company used Wired Equivalent Privacy encryption system to handle their client’s credit and debit card information. This system was very easy for any hacker to gain access to people’s information. It was completely out of date and did not encrypt anything within the company, which made it more vulnerable. They did not install firewall security correctly. TJX had purchased many other security programs that were not properly installed. They kept customer’s information in their system longer than what is required by law. TJX could have switched to WiFi Protected Access (WPA) to encrypt their client’s personal data information, but failed to do so. This system is much more sophisticated that the previous system and it encrypted everyone’s information, because it was more complex. Firewalls should have been installed correctly because it could have been prevented and would have saved the company the embarrassment of knowing that their system was not safe. This data should have been protected when transferring information over a wireless connection. The business effect of TJX’s data loss will cost them significantly. Because of their incompetence of not installing the proper software needed to ensure customer’s information, this will cost them $202 million to deal with the theft and the lawsuits brought on. They agreed to strengthen their system security and agreed to have third-party auditors to check their security features every 2 years, for the next 20 years. There was research conducted by a company called Forrester Research, which estimated that their business would cost them $1 billion for the next five years. This finding was based on the cost of additional marketing, security upgrades, consultants, and attorney fees. The moral dimension that may be applied is the fact that they need to ensure that the customer’s information is secure and encrypted. The next thing for the company is to take full responsibility for the data loss when they could have taken the simple measures of doing so.

Understanding Inventory Management And Its Theories

Understanding Inventory Management And Its Theories Inventory management or inventory control is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory. There are several schools of thought that view inventory and its function differently. These will be addressed later but first we present a foundation to facilitate the readers understanding of inventory and its function. Inventory Definition Inventory is a quantity or store of goods that is held for some purpose or use (the term may also be used as a verb meaning to take inventory or to count all goods held in inventory). Inventory may be kept in house meaning on the premises or nearby for immediate use or it may be held in a distant warehouse or distribution center for future use. With the exception of firms utilizing just in time methods more often than not the term inventory implies a stored quantity of goods that exceeds what is needed for the firm to function at the current time (e.g., within the next few hours). Why we should keep inventory Why would a firm hold more inventory than is currently necessary to ensure the firms operation? The following is a list of reasons for maintaining what would appear to be excess inventory. MEET DEMAND. In order for a retailer to stay in business it must have the products that the customer wants on hand when the customer wants them? If not the retailer will have to back order the product. If the customer can get the good from some other source he or she may choose to do so rather than electing to allow the original retailer to meet demand later (through back order). Hence, in many instances if a good is not in inventory a sale is lost forever. KEEP OPERATIONS RUNNING. A manufacturer must have certain purchased items (raw materials components or subassemblies) in order to manufacture its product. Running out of only one item can prevent a manufacturer from completing the production of its finished goods. Inventory between successive dependent operations also serves to decouple the dependency of the operations. A machine or work center is often dependent upon the previous operation to provide it with parts to work on. If work ceases at a work center then all subsequent centers will shut down for lack of work. If a supply of work in process inventory is kept between each work center then each machine can maintain its operations for a limited time hopefully until operations resume the original center. LEAD TIME. Lead time is the time that elapses between the placing of an order (either a purchase order or a production order issued to the shop or the factory floor) and actually receiving the goods ordered. If a supplier (an external firm or an internal department or plant) cannot supply the required goods on demand then the client firm must keep an inventory of the needed goods. The longer the lead time the larger the quantity of goods the firm must carry in inventory. A just in time (JIT) manufacturing firm such as Nissan in Smyrna Tennessee can maintain extremely low levels of inventory. Nissan takes delivery on truck seats as many as 18 times per day. However steel mills may have a lead time of up to three months. That means that a firm that uses steel produced at the mill must place orders at least three months in advance of their need. In order to keep their operations running in the meantime an on hand inventory of three months steel requirements would be necessary. HEDGE. Inventory can also be used as a hedge against price increases and inflation. Salesmen routinely call purchasing agents shortly before a price increase goes into effect. This gives the buyer a chance to purchase material in excess of current need at a price that is lower than it would be if the buyer waited until after the price increase occurs. QUANTITY DISCOUNT. Often firms are given a price discount when purchasing large quantities of a good. This also frequently results in inventory in excess of what is currently needed to meet demand. However if the discount is sufficient to offset the extra holding cost incurred as a result of the excess inventory the decision to buy the large quantity is justified. SMOOTHING REQUIREMENTS. Sometimes inventory is used to smooth demand requirements in a market where demand is somewhat erratic. Consider the demand forecast and production schedule outlined in Table 1. Notice how the use of inventory has allowed the firm to maintain a steady rate of output thus avoiding the cost of hiring and training new personnel while building up inventory in anticipation of an increase in demand. In fact this is often called anticipation inventory. In essence the use of inventory has allowed the firm to move demand requirements to earlier periods thus smoothing the demand. Controlling Inventory Firms that carry hundreds or even thousands of different part numbers can be faced with the impossible task of monitoring the inventory levels of each part number. In order to facilitate this many firms use an ABC approach. ABC analysis is based on Pareto Analysis also known as the 80/20 rule. The 80/20 comes from Paretos finding that 20 percent of the populace possessed 80 percent of the wealth. From an inventory perspective it can restated thusly: approximately 20 percent of all inventory items represent 80 percent of inventory costs. Therefore a firm can control 80 percent of its inventory costs by monitoring and controlling 20 percent of its inventory. But it has to be the correct 20 percent. The top 20 percent of the firms most costly items are termed An items (this should approximately represent 80 percent of total inventory costs). Items that are extremely inexpensive or have low demand are termed C items with B items falling in between A and C items. The percentages may vary with each firm but B items usually represent about 30 percent of the total inventory items and 15 percent of the costs. C items generally constitute 50 percent of all inventory items but only around 5 percent of the c By classifying each inventory item as an A B or C the firm can determine the resources (time effort and money) to dedicate to each item. Usually this means that the firm monitors A items very closely but can check on B and C items on a periodic basis (for example monthly for B items and quarterly for C items). Another control method related to the ABC concept is cycle counting. Cycle counting is used instead of the traditional once a year inventory count where firms shut down for a short period of time and physically count all inventory assets in an attempt to reconcile any possible discrepancies in their inventory records. When cycle counting is used the firm is continually taking a physical count but not of total inventory. A firm may physically count a certain section of the plant or warehouse moving on to other sections upon completion until the entire facility is counted. Then the process starts all over again. The firm may also choose to count all the A items then the B items and finally the C items. Certainly the counting frequency will vary with the classification of each item. In other words an item may be counted monthly B items quarterly and C items yearly. In addition the required accuracy of inventory records may vary according to classification with A items requiring the most accurate record keeping. Balancing Inventory and Cost As stated earlier inventory management is an attempt to maintain an adequate supply of goods while minimizing inventory costs. We saw a variety of reasons companies hold inventory and these reasons dictate what is deemed to be an adequate supply of inventory. Now how do we balance this supply with its costs? First lets look at what kind of costs we are talking about. There are three types of costs that together constitute total inventory costs: holding costs set up costs and purchasing costs. Holding Costs. Holding costs also called carrying costs are the costs that result from maintaining the inventory. Inventory in excess of current demand frequently means that its holder must provide a place for its storage when not in use. This could range from a small storage area near the production line to a huge warehouse or distribution center. A storage facility requires personnel to move the inventory when needed and to keep track of what is stored and where it is stored. If the inventory is heavy or bulky forklifts may be necessary to move it around. Storage facilities also require heating cooling, lighting and water. The firm must pay taxes on the inventory and opportunity costs occur from the lost use of the funds that were spent on the inventory. Also obsolescence pilferage (theft) and shrinkage are problems. All of these things add cost to holding or carrying inventory. If the firm can determine the cost of holding one unit of inventory for one year (H) it can determine its annual holding cost by multiplying the cost of holding one unit by the average inventory held for a one year period. Average inventory can be computed by dividing the amount of goods that are ordered every time an order is placed (Q) by two. Thus average inventory is expressed asQ/2. Annual holding cost then can be expressed asH(Q/2). Set Up Cost Set up costs are the costs incurred from getting a machine ready to produce the desired good. In a manufacturing setting this would require the use of a skilled technician (a cost) who disassembles the tooling that is currently in use on the machine. The disassembled tooling is then taken to a tool room or tool shop for maintenance or possible repair (another cost). The technician then takes the currently needed tooling from the tool room (where it has been maintained another cost) and brings it to the machine in question. There the technician has to assemble the tooling on the machine in the manner required for the good to be produced (this is known as a set up). Then the technician has to calibrate the machine and probably will run a number of parts that will have to be scrapped (a cost) in order to get the machine correctly calibrated and running. All the while the machine has been idle and not producing any parts (opportunity cost). As one can see there is considerable cost involved in set up. If the firm purchases the part or raw material then an order cost rather than a set up cost is incurred. Ordering costs include the purchasing agents salary and travel entertainment budget administrative and secretarial support office space copiers and office supplies forms and documents long distance telephone bills and computer systems and support. Also some firms include the cost of shipping the purchased goods in the order cost. If the firm can determine the cost of one set up (S) or one order it can determine its annual setup order cost by multiplying the cost of one set up by the number of set ups made or orders placed annually. Suppose a firm has an annual demand (D) of 1,000 units. If the firm orders 100 units (Q) every time it places and order the firm will obviously place 10 orders per year (D/Q). Hence, annual set up order cost can be expressed asS (D/Q). Purchasing Cost Purchasing cost is simply the cost of the purchased item itself. If the firm purchases a part that goes into its finished product the firm can determine its annual purchasing cost by multiplying the cost of one purchased unit (P) by the number of finished products demanded in a year (D). Hence, purchasing cost is expressed asPD. Now total inventory cost can be expressed as: Total = Holding cost + Set-up/Order cost + Purchasing cost or Total =H(Q/2) +S(D/Q) +PD If holding costs and set-up costs were plotted as lines on a graph the point at which they intersect (that is the point at which they are equal) would indicate the lowest total inventory cost. Therefore if we want to minimize total inventory cost every time we place an order, we should order the quantity (Q) that corresponds to the point where the two values are equal. If we set the two costs equal and solve forQwe get: H(Q/2) =S(D/Q) Q= 2DS/H The quantity is known as the economic order quantity (EOQ). In order to minimize total inventory cost, the firm will order every time it places an order. For example, a firm with an annual demand of 12,000 units (at a purchase price of $25 each), annual holding cost of $10 per unit and an order cost of $150 per order (with orders placed once a month) could save $800 annually by utilizing the EOQ. First, we determine the total costs without using the EOQ method: Q= $10(1000/2) + $150(12,000/1000) + $25(12,000) = $306,800 Then we calculate EOQ: EOQ = 2(12,000)($150)/$10= 600 And we calculate total costs at the EOQ of 600: Q= $10(600/2) + $150(12,000/600) + $25(12,000) = $306,000 Finally, we subtract the total cost ofQfromQto determine the savings: $306,800 à ¢Ãƒâ€¹Ã¢â‚¬   306,000 = $800 Notice that if you remove purchasing cost from the equation the savings is still $800. We might assume this means that purchasing cost is not relevant to our order decision and can be eliminated from the equation. It must be noted that this is true only as long as no quantity discount exists. If a quantity discount is available the firm must determine whether the savings of the quantity discount are sufficient to offset the loss of the savings resulting from the use of the EOQ. There are a number of assumptions that must be made with the use of the EOQ. These include: Only one product is involved. Deterministic demand (demand is known with certainty). Constant demand (demand is stable through-out the year). No quantity discounts. Constant costs (no price increases or inflation) While these assumptions would seem to make EOQ irrelevant for use in a realistic situation it is relevant for items that have independent demand. This means that the demand for the item is not derived from the demand for something else usually a parent item for which the unit in question is a component. For example the demand for steering wheels would be derived from the demand for automobiles dependent demand but the demand for purses is not derived from anything else purses have independent demand. Other Lot Sizing Techniques There are a number of other lot sizing techniques available in addition to EOQ. These include the fixed order quantity fixed order interval model the single period model and part period balancing. Fixed Order Quantity Model EOQ is an example of the fixed order quantity model since the same quantity is ordered every time an order is placed. A firm might also use a fixed order quantity when it is captive to packaging situations. If you were to walk into an office supply store and ask to buy 22 paper clips chances are you would walk out with 100 paper clips. You were captive to the packaging requirements of paper clips i.e. they come 100 to a box and you cannot purchase a partial box. It works the same way for other purchasing situations. A supplier may package their goods in certain quantities so that their customers must buy that quantity or a multiple of that quantity. FIXED ORDER INTERVAL MODEL. The fixed order interval model is used when orders have to be placed at fixed time intervals such as weekly biweekly or monthly. The lot size is dependent upon how much inventory is needed from the time of order until the next order must be placed order cycle. This system requires periodic checks of inventory levels and is used by many retail firms such as drug stores and small grocery stores. SINGLE-PERIOD MODEL. The single period model is used in ordering perishables such as food and flowers and items with a limited life such as newspapers. Unsold or unused goods are not typically carried over from one period to another and there may even be some disposal costs involved. This model tries to balance the cost of lost customer goodwill and opportunity cost that is incurred from not having enough inventory with the cost of having excess inventory left at the end of a period. PART-PERIOD BALANCING. Part period balancing attempts to select the number of periods covered by the inventory order that will make total carrying costs as close as possible to the set up order cost. When a proper lot size has been determined utilizing one of the above techniques the reorder point or point at which an order should be placed can be determined by the rate of demand and the lead time. If safety stock is necessary it would be added to the reorder point quantity. Reorder point =Expected demand during lead time + Safety stock Thus an inventory item with a demand of 100 per month a two month lead time and a desired safety stock of two weeks would have reorder point of 250. In other words an order would be placed whenever the inventory level for that good reached 250 units. Reorder point =100/month ÃÆ'- 2 months + 2 weeks safety stock = 250 Other thoughts in Inventory Management There are a number of techniques and philosophies that view inventory management from different perspectives. MRP AND MRP II. MRP and MRP II are computer based resource management systems designed for items that have dependent demand. MRP and MRP II look at order quantities period by period and as such allow discrete ordering only what is currently needed. In this way inventory levels can be kept at a very low level a necessity for a complex item with dependent demand. JUST-IN-TIME (JIT). Just in time (JIT) is a philosophy that advocates the lowest possible levels of inventory. JIT espouses that firms need only keep inventory in the right quantity at the right time with the right quality. The ideal lot size for JIT is one even though one hears the term zero inventory used. Theory of Constraints Theory of constraints (TOC) is a philosophy which emphasizes that all management actions should center about the firms constraints. While it agrees with JIT that inventory should be at the lowest level possible in most instances it advocates that there be some buffer inventory around any capacity constraint e.g. the slowest machine and before finished goods. Future of Inventory Management The advent through altruism or legislation of environmental management has added a new dimension to inventory management reverse supply chain logistics. Environmental management has expanded the number of inventory types that firms have to coordinate. In addition to raw materials work in process finished goods and MRO goods firms now have to deal with post consumer items such as scrap returned goods reusable or recyclable containers and any number of items that require repair reuse recycling or secondary use in another product. Retailers have the same type problems dealing with inventory that has been returned due to defective material or manufacture poor fit finish or color or outright I changed my mind responses from customers. Finally supply chain management has had a considerable impact on inventory management. Instead of managing ones inventory to maximize profit and minimize cost for the individual firm todays firm has to make inventory decisions that benefit the entire supply chain.

Philosophy Essay on Self Essay

I certify that this literature review is my own work and contains no material which has been accepted for the award of any degree or diploma in any institute, college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the dissertation. Name Signed _________________________________________________ Date ___________________________________________________ The most fundamental of the questions man asks himself in his lifetime are, â€Å"what/who am I ? â€Å"and â€Å"what is my purpose? † The curiosity over this issue of ‘the self’ has spanned human thought for millennia rooting from societal notion that â€Å"life cannot be just bricks and cement†. Due to the inherent nature of these fundamental curiosities mankind has struggled from ancient times to uncover these mysteries. In the western-context, this brief essay will try to explore the dimensions of the â€Å"essence of self† ranging from medieval to the modern conception of self. It will review the theories of self starting with Aristotelian science and Christian doctrines and their eventual marriage by St. Thomas Acquinas’ moral theory. In effect, it then explores critical viewpoints and traces the development of Scientific Rationalization. Progressively, it debates Rene Descartes’ rationalist views shaping his dualistic conception of the self. Furthermore, it poses the contrasting empiricist views of John Locke where he places self-consciousness and memory as the variables to comprehend self. In addition, it contests David Hume’s proclamation of the self as fiction (Robinson, H. , 2012). The theories of self and identity gradually developed over a historical timeline resulting in modern thought on the subject. In this regard, it is important to understand its development initiation from religious conception in the west. Curiosity on these issues can be traced back to accounts of Aristotle, where he is of the view that everything in nature has a purpose and everything can be rationalized based on its intent and the purpose it served (Greetham, B. 2006, p. 213). This is referred to as the ‘teleological’ view, which contributed to the formation of medieval world view formed by Christian dogma and the Catholic church (Cavalier, G. ,1989). This Christian conception viewed the world as being God’s creation and expression of his will which was cosmologically meaningful and structured. The purpose of things under this theology is God given and is a part of the ‘grand plan’ (Stanford encyclopedia of philosophy). This categorises the medieval belief of self, where humans have a certain place and purpose and the self is understood in terms of the role it plays in the grand plan of things. The medieval Christian conception of self was greatly inspired by the work of 13th century theologian St. Thomas Acquinas. In his opus he bridged the gap between faith and reason by linking Christian dogma and Aristotelian thought (O’Callaghan, R. , 2010). In essence, he lived in a crucial juncture of western culture when the Latin translation of Aristotelian corpus was made available which in effect reignited the debate on relating faith and reason. His theories borrowed from Aristotle and Christian dogma and ethics which were consistently reaffirmed by the church over the centuries (auquinas from stanford). The aforementioned medieval religious conception of self forms the basis Acquinas’ ethical premise on how we ought to act (Greetham, B., 2006). Right and wrong actions based on their compliance with human nature and its place â€Å"God-given natural order†, categorized as natural or unnatural. Hence, the self bounded and confined to serving a purpose. However, this religious world-view came under intense criticism with the advent of scientific advancement and rationality in the 16th and 17th centuries. Scientific thinking developed under the likes of Descartes and Locke and was reasoned based on the accomplishments of Galileo and Newton(Zalta, E. , 2011). They disregarded the place of divine-will in their conception of self, basing it on mere experience, empirical evidence and mathematical formulations. This shift of conception is termed ‘demythologization’, where everything works without a purpose and results from mechanical interaction of particles regulated by universal laws which can be mathematically formulated (Greetham, B. , 2006). Consequently, began the search of the self by looking within for purpose and meaning. The modern view of self is articulated in the works of 17th century philosopher Rene Descartes. He pioneered the dualistic understanding of the human being, which is made up of the â€Å"mental substance (mind) and the physical substance (body)† (Warburton, N. , 1992). Here, the body has physical properties like having weight and using space, whereas the mind is a non-material substance, responsible for thought and experience and hence is the abode of consciousness. In his view, the self is a spiritual â€Å"subject of experience† which is fundamentally different from the body and nature, where the body inessential and the mind can exist independently. His radical scepticism led to the formation of the â€Å"Illusion argument†, where the bodily senses are deemed unreliable and thus the existence of the external world and body is uncertain. The only thing one can be certain of is that ‘I exist’. This is categorized under his famous proclamation -â€Å"Cogito ergo sum†, meaning â€Å"I think, therefore I am† (Cavalier, G. , 1989). In essence, â€Å"the self is essentially mental† and the search for purpose and meaning should be searched within ourselves instead of classifying it under totality of nature. In his endeavours, Descartes used the â€Å"rationalist approach† to knowledge, which solely relies on logic and scepticism . In contrast, his contemporary, English philosopher John Locke relies on the â€Å"empiricist approach†, where knowledge is acquired by the means of watchfulness and experience. His theology of self underlines the role of reason, consciousness and self-consciousness. As for Locke, he sees self-consciousness as a inseparable element in the conduct of any conscious action, like thinking and observing. The perception of the world by the senses, awareness of personal identity, actions performed and its retention (memory) over time is what constitutes self-consciousness (Robinson, H. , 2012). Personal identity here is quintessentially the self, in which memory is decisive variable as the consciousness of past actions is critical to being the same person; and selfhood is reliant on the consciousness and not the body. For instance, if a person has memories from a past life as Salvador Dali, then he is the same person in the current life with a different body. These arguments however appear ambiguous upon correlation with Descartes’ accounts. However, Locke’s accounts differ where cites that it is not necessary that thinking, observation etc. to be the products of a non-material substance and leaves a prospect open that they could be of material origin. The self, Locke argues, is resultant from â€Å"continuity of consciousness† and not a ‘substance’ as proposed by Descartes (Greetham, B. , 2006). Then again, there is a fallacy in these arguments; if the self is continuity of consciousness and memory retention then without the memory of past actions accountability for the actions is cannot be held (Cavalier, g., 1989). For instance, it could be hypothesized in Locke’s view, that a person who committed murder as a child, who grew up to become a doctor and then as an old man he cannot remember his crime as a child, hence in effect, he cannot be held responsible for the murder. Eighteenth century philosopher David Hume continued in the empirical approach, maintaining that authentic knowledge is solely acquired on the basis of direct experience (Robinson H. , 2012). He borrows from Locke, however, he reaches drastic conception where he conceives the self as fiction. Thereafter, he entirely disregards the â€Å"substance view of the mind†. He bases his conception strictly on experience or ‘perception’ and maintains that the existential claim for the inner substance should be discoverable by experience (Greetham, B. , 2006). Through his experience, Hume, found no such substance but instead only a variety of perceptions where there is no identity or self binding them. Academics refer to this view as the â€Å"bundle theory of substance†, where different perceptions are in eternal flux (Robinson H. , 2012). However, Hume fails to identify a unifying  factor and puts forth a vague understanding of the mind just being a bundle of perceptions. Consequently, the Cartesian theory of self gained an upper hand as it offers the unifying substance of mind in the conception of the self (Greetham, B. , 2006). The aforementioned theories of self significantly influence the post-modern conception of the self, as the subject has a tendency to develop over time (Cahoone, L. , 2003). These western theories have borrowed from Eastern conceptions of self, which indicates ancient interaction between the west and the east. (Cavalier, G. , 1989). In the contemporary world, the twentieth century has been the fore-bringer of brisk industrialization in the western world, begetting fast-paced consumer societies, where the people have little or no time for personal fulfilment (Cahoone, L. 2003). This along with advent of cultural pluralism, scientific rationalization and secularization of notions of religion has led to burgeoning interest in the conception of self (Olsen and Timothy, 2006, p. 139). On a personal basis, the theories of self explored here provided a clearer picture on the gradual development of understanding of self with a historical context and an insight into how these theories have shaped post-modern notions on the same (Collinson, P. et al, 2000). Descartes’ accounts and his emphasis on the soul substance worked as a bride between my eastern thought origin and modern western conception on the subject. However, Locke’s and Hume’s empirical approach and their emphasis on discovering self through experience is also profound to my conception of self. Their conclusions however appeared radical and absurd especially in the case of Hume where proclaims the self as being fictional. References: Cahoone, L. (2003). From Modernism to Postmodernism: An Anthology. Carlton: Blackwell. Cavalier, G. &. (1989). Ethics in the History of Western Philosophy. New York: St. Martin’s Press. Collinson, P. &. (2000). Fifty Eastern Tihnkers. London: Routledge. Greetham, B. (2006). Philosophy. Norwich: Palgrave Macmillan. Jamal, T. a. (2009). The Sage Handbook of Tourism Studies. London: Sage. O’Callaghan, R. et al. (2010, December 21). Saint Thomas Aquinas. Retrieved May 1, 2012, from http://plato. stanford. edu/: Olsen, D. H. and Timothy, D. J. (2006). Tourism, Religion and Spiritual Journeys. Oxford: Routledge. Robinson, H. (2012, Demember 21). Dualism. Retrieved May 1, 2012, from http://plato. stanford. edu/: Warburton, N. (1992). Philosophy. Abingdon: Routledge. Zalta, E. (2011, September 21). Aquinas’ Moral, Political, and Legal Philosophy. Retrieved May 1, 2011, from www. http://plato. stanford. edu/: .

Characteristics of a Good Computer

CAVENDISH UNIVERSITY UGANDA STUDENT NAME: AKANKWASA JOHNSON ( 077/0702-978405) STUDENT ID:02/02615/124400 COURSEBEHS LECTURER: MR. MENYA SHAKIR MODULE: INFORMATION SYSTEMS AND TECHNOLOGY MODULE CODE: BIT 110 ASSIGNMENT NUMBER: 01 DATE ISSUED: 4TH /11/2012 DUE DATE: 11 /11/2012 ASSIGNMENT BRIEF: 1. Discuss the factors you would consider while buying a computer. 2. How has information networks solved the problems of an organization? GUIDE TO STUDENTS 1. Maximum 2 pages word processed excluding cover and reference pages. 2. Use Times New Roman 3. Font Size should be 12 4. 1. 5 Line Spacing . For referencing purposes, use the Harvard Author-Date System. Instructions to Students 1. This form must be attached to the front of your assignment. 2. The assignment must be handed in without fail by the due date. QUESTION. 1: Discuss factors you would consider while buying a computer. Solution According to Prof. More Manojkumar, (2009), various factors that would be considered when buying compute rs are discussed here bellow; 1. Processor Speed: A computer is a very fast device which can perform the amount of work that a human being can do in an entire year in few seconds.This therefore means that a good powerful computer should be capable of performing several billion arithmetic operations per second. The speed of a computer measure is in microseconds (10-6), Nanoseconds (10-9) and picoseconds (10-12). 2. Accuracy: The accuracy of a computer is principally highly considered; and the degree of accuracy of a particular computer depends upon its design however Errors can occur in a computer due to human rather than technological weaknesses. 3. Memory (Power of Remembering): A good Computer should have sound brain (Fast memory, 2 GB+) but unlike human (Man) beings.A computer can store data and information and recalled as long as one requires it for any numbers of years because of its secondary storage capability. This means data and information can be retrieved as long as desir ed by the user and can be recalled, as when required. The information recalled would be as accurate as on the day when it was fed to the computer. 4. Diligence: A good Computer should be diligent unlike human beings. This means that a computer should be free from dullness and lack of concentration.It can continuously work for hours without creating any error human beings in doing regular types of jobs, which requires great accuracy. Computer can perform the number of calculation with exactly the same accuracy and speed as the first one. 5. Versatility: Versatility is a most important characteristic which a good computer should have hence the capacity to perform completely different type of work. For example one may use a computer to prepare payroll slips where there is a lot of veracity, may be used for inventory management or to prepare electric bills.A good computer should therefore be capable of performing almost any task, if the task can be reduced to series of logical steps. 6. Automation: Good Computers should be automatic electronic machines however; computer being machines can not start themselves without human interventions. They cannot go out to find their own problems and solutions because they have to be instructed. Hence the automation eases the operation of the user. 7. Communication/ Connectivity: Most computers today have the capability of communicating with other computers. We can connect two or more computers by a communication device such as modem.These computers can share data, instructions, and information. The connected computer are called network. 8. No Feelings: Good Computers should have no feelings, no emotions like human heart and soul since they are machines. Computers cannot make such judgments on their own because their judgment is based on the instructions given to them in form of programs that are written by us. 9. Reliability; Most consumers are looking for a computer that are reliable, yet if the product is on the market then it is bound to have undergone and passed the numerous technological tests before release.In conclusion therefore; all computers should meet these characteristics but it just depends upon the efficiency of the users, their computer skills as to whether they remain satisfied with their purchase. 1 QESTION 2: How has information networks solved the problems of an organization? SOLUTION Network information systems link pockets of highly specialized data to provide efficient access. Computer-based information systems have been in widespread use since the 1990s in industry, non-profit organizations and government agencies.These systems have solved a number of problems in organizations in the following ways; 1. Provided fast access to databases of personnel information, reference reading, best practices and on-the-job training, and are easily customizable to meet an organization's needs. With the Internet and technology boom of the early 21st century, use of computer-based information netw orks is growing faster each year. 2. Ensured Data Centrality; Access to data via a computer network information system is central, providing a â€Å"one-stop† location to find and access pertinent computer data.Most large-scale businesses and organizations use some sort of central database to manage user information, manage advertisement lists, store product information and keep track of orders. Examples of central database solutions are MySQL, Postgre SQL or Microsoft SQL database solutions, coupled with custom software which provides user interfaces. 3. Improved Information Coverage; Information coverage is a huge advantage for any organization, because having vast amounts of useful data from every different department streamlines access and increases productivity. For users, having access to a networked nformation system is analogous to having a digital library of shared knowledge hence; Central information systems provide organizations with the advantages of having large amounts of data, covering many different fields, all accessible via an information access with larger databases of academic and professional research, such as Google Scholar, to provide even more information capability to personnel. 4. Ensured access to efficiency; Efficiency of access is a crucial advantage to networked information systems in organization over more traditional information management systems, such as paper cataloging and filing.Computer-based information systems catalog and file documents in a set logical way, making data access very efficient and fast. Data can be manually categorized, and filters created to automatically file documents that match certain patterns. This increases employee productivity time by allowing workers to focus more on the task at hand rather than filing paperwork. 5. Extensibility; Computer-based information systems are completely extensible and customizable to an organization's needs.Upon installation, customized computer information syste ms use configuration files that are tailor-made to an organization's needs to file and categorize data. Computer software engineers frequently design custom database interfaces and information storage/recovery systems for enterprise clients. As a company grows, modifications and additions to this filing configuration allow easy extensibility. Computer information systems are not limited in scale or possibility. They are uniquely designed for maximum organizational benefit for each customer.In conclusion therefore; Information net works have greatly helped organizations grow and efficiently deliver the services to achieve specific goals. 2 REFERENCES 1. http://www. ehow. com/list_6748808_advantages-computer_based-information-systems. html#ixzz2Bu35Ixvk 2. Ronald Golooba, (2012); Lecture Notes for year one students a cohort 15, Cavendish University Uganda. 3. en. kioskea. net/contents/pc/ordinateur-portable. php3 – Cached. 4. Prof. More Manojkumar, (2009), Characteristics of co mputer systems. 5. wiki. answers. com †º †¦ †º Operating Systems – Cached