2- 527 abdul Assignment Example | Topics and Well Written Essays - 750 words

2- 527 abdul - Assignment Example For instance, the ISO 9660 standard defines a file system used by CD-ROM media. ISO relies on eight guiding principles for the development of quality products and services, and they are important in improving professionals and other management staff (GCC Standardization Organization, 2014). First, ISO focuses on customers’ wants and customer service. Ideally, every business should relate to customers’ needs and aim at satisfying their needs, or exceeding customers’ expectations (GCC Standardization Organization, 2014). The benefits of this principle included increased profits, customer loyalty, and greater efficiency related to customer satisfaction. The second principle is collaboration of people. This principle states that a company is incomplete without staff and their talents and skills should contribute to the success of the company (GCC Standardization Organization, 2014). The principle promotes creativity and innovation in an organization, employees feel motivated when they use their skills thus, they maximize their abilities, and each employee is accountable for his or her actions. Process approach is the third principle. The principle defines the processes used in order to promote speed and efficacy of activities (GCC Standardization Organ ization, 2014). It is important since it reduces expenses, improves effectiveness of resources, and boosts the productivity of an organization (ISO, 2014). Another principle is leadership. An organization should have defined goals and employees should aim at achieving them. The primary benefit of this principle is employee involvement. Other principles include system approach to management, continuous improvement, logical-based approach, and beneficial supplier relations. ISO standards states that all these principles, aim at cost reduction, efficiency and increased productivity in an organization (GCC Standardization Organization, 2014). The ISO development process involves various

Ethical dilemma involving a dying patient Essay Example | Topics and Well Written Essays - 750 words

Ethical dilemma involving a dying patient - Essay Example re faced with an ethical dilemma as to whether to save the patient or not and not only save the patient but the baby that the patient was carrying as the patient had refused any sort of medical treatment that involved the use of blood. The doctors were left to questions whether to help the patient or respect her beliefs and not do anything to save her life. The ethical dilemmas face by the doctors in this case was that the patient was a Jehovah’s witness and did not want to be treated with bloid transfusion. The doctors faced four basic principles of ethics; respect for autonomy where in the doctor has to respect the decision made by the patient, beneficence where in the doctor has to assess the risk to benefit ration. Thirdly non-maleficence where the doctors do not want to cause any harm to the patient and lastly justice which balances the benefits, risk and costs equally and uniformly (Van Norman, 2011). The patient was a Jehovahs’s witness which made it difficult to carry out the prescribed treatment for her, Jehovah’s witness, they do not salute to military flags and do not take part in military or city government voting. The Jehovah’s witnesses are banned from blood transfusions or any medical treatment that involves the use of blood or blood products. In cases like these it is necessary to first consider the condition of the patient whether they should be talked to or counseled regarding the decisions being made. If the patient is awake and well aware of what is happening or what has happened, the patient’s caretaker or guardian should also be asked regarding the decision being made. It is important to check the documents as to confirm that the patient is actually a Jehovah ’s Witness. The patient and her caretaker should be informed of alternative blood products and if they still do not agree for no treatment then he/ should sign a document of consent (Van Norman, 2011). In this case when the nurse is faced with a critical situation which

Democracy in Combating Poverty

Democracy in Combating Poverty Democracy and Development in Combating Poverty Introduction The correlation between democracy and development in combating poverty stems from the European debate that has taken place since the early part of the last century. The significance of this debate has since been further amplified as a consequence of decolonization and the ability of international economic institutions such as International Monetary Fund and the World Bank to impose conditions on providing international aid to developing countries (Barsh 1992). The purpose of this paper is to illustrate the fact that combating poverty does not require the concurrent application of democracy and development. It follows on from the introductory work done by my group member Christopher Kaindi and leads onto the case studies done by Phonesavanh Sethanaphaixanh. It will show that the premature application of democracy in many of these developing countries leads to further problems and as such do not address poverty alleviation. It will do so by first taking a brief look at the argument in favor of democracy. It will then define the concepts of democracy and development in regards to combating poverty. Following that the paper will then illustrate the issues related to the premature implementation of democracy. Finally the paper will look at the implications of such a conflict on the provision of international aid to developing countries. Democracy and Development Defined Democracy and development alike are terms that have been conceptualized in various and often contradicting ways. As such, for the purpose of this paper, both these terms have been defined in their minimalist form. Democracy refers to a form of government that allows the citizens of a country to play a vital role in the creation and implementation of the countrys policies and laws through a system of representation (Shihata 1997). Typical features of a democratic government include the separation of State and Church, the separation of the legislative, judicial and executive powers, the protection of fundamental human rights, and due process of law (Shihata 1997). Development refers to the transformation of a society that features human progress in all its aspects. Aside from social and cultural growth development hopes to improve the nations economic growth, that is, to raise the per capita income of nations (Shihata 1997). Therefore, it would appear, from the above definitions that development, with its emphasis on economic growth, is an essential process necessary for the alleviation of poverty. As such, in an attempt to illustrate the non correlation between development and democracy in combating poverty the remainder of this paper will highlight some of the key areas in which the two have a conflict of interest. Why Have Democracy? Proponents argue that democracy helps the poor in three ways: democracies empower poor people through elections, and hence force governments to attend to their needs; democracies facilitate the free flow of information, and hence give governments better information about the condition of the poor; and democratic governments provide their citizens with more public goods. Why Not Have Democracy The type of political regime itself has no impact on economic development. It is in fact the policies undertaken by the governments of these developing countries that enable them to fight poverty. As such arguments that suggest authoritarian governments in countries such as Cuba, Burma and North Korea have lead to higher number of people in poverty is seriously flawed. Its their governments decision to implement import-substitution strategies and less involvement in global trade that has lead to them struggling with poverty eradication. Export-orientated strategies have been far more effective in promoting sustained economic growth. This is evident in countries such as South Korea and Taiwan where democracy came at a later stage of development. Furthermore, it is unrealistic to assume that democratic institutions can be set up easily, almost anywhere, at any time. Effective democracy isnt just about having elections; it needs a relatively developed infrastructure that includes not only economic resources but also widespread participatory habits and an emphasis on autonomy. The Bush administration ignored this reality when it attempted to implant democracy in Afghanistan and Iraq which as a result have left both these countries in a state of chaos. In a developing country the peoples main focus is survival, which includes basic economic and physical security such as food and shelter. During the process of development as these necessities are met there is a change in values which shifts from being one that is to meet the basic needs of survival to complex needs of self expression and freedom of speech, and participation in political decision making. This very shift in values creates the preconditions required for a healthy democratic regime to operate in a country. Among the countries that democratized between in 1970 and 1990, democracy has survived in every country that made the transition when it was at the economic level of Argentina today or higher, among the countries that made the transition at an earlier stage of development, democracy had an average life expectancy of only eight years. The structure of democracy, with its institutions of voting rights, an independent judiciary that often requires judicial review and leads to judicial restraint on legislative and executive power, and a free press, sets it apart from authoritarian rule. The restraint of arbitrary power can be a powerful source of development; but a well-functioning democracy can also undermine development. The structure of democratic participation relies on the creation and proliferation of interest groups that lobby for their views to be heard and their concerns to prevail. But a lobbying-infested democracy can lead to widespread waste and inefficiency through the effects of rent-seeking and unproductive profit-seeking  activities. There is also a danger of what Jonathan Rauch has called demosclerosis: the paralysis of gridlock afflicting a lobbying-infested democracy. The welfare gains that lobbies produce in allowing citizen participation in governance and in fostering balanced policymaking can be outweighed by their costs from gridlock and unproductive profit-seeking. That democracies are subject to this tradeoff is indisputable.

The Norse Viking Age Essay -- Expansion of the Vikings

In most cases, the Norse Viking Age is recorded to have officially began in 793 AD with the first recorded raid through to 1066 AD, ending with the Battle of Hastings. However, these dates vary upon scholars. The Battle of Hastings wasn't exactly the end of the Viking Age, because the Norse were spread out across Europe and Viking raids continued to take place in other locations. With that said, dating the conclusion of the Viking Age is fairly generic because Viking raids were sporadic in many locations and when one area was under control, another area was being raided. Additionally, because Viking raiders weren't unified efforts and most Norsemen tended to 'vikingr' (raid) at their own whim. This places the conclusion of the Viking Age at approximately the beginning of the 12th Century-ish. This is also about the time when Norse and other Kingdoms were becoming increasingly solidified and more able to repel Viking incursions. This was also around the time when the Christia nization of Northern Europe and Norse dominated lands began to take a firmer hold. So dating the exact end of the Viking Age is vague at best. The same can be said about the approximate beginning of the Viking Age as well. Although it's officially marked by most scholars as beginning in 793 AD with the raid on the Lindisfarne Monastery, however it wasn't a new concept to go â€Å"vikingr' (raid). Viking raids were already occurring in a vast range of other areas, including France. The most accepted official start of the Viking Age is recorded to have begun on June 8th, 793 AD when Norse raiders landed on the island of Lindisfarne and attacked the Christian Monastery located there, killing the monks and seizing the valuables. Viking raids by op... ...This left Alfred in command and the West Saxon and Viking armies met and the battle itself lasted all day. Bagsecg was killed along with his five Danish Jarls. According to the Anglo-Saxon Chronicle King Bagsecg was slain by a sword while Halfdan fled from the battlefield with the rest of the army back to Reading. The Battle of Ashdown itself was a limited West Saxon Victory. The Battle of Basing was a battle on January 22nd, 871 AD at Old Basing in what is now the English county of Hampshire. It was one of a series of battles that took place following an invasion of the then kingdom of Wessex by an army of Danes, remnants of the merged Great Heathen Army and Great Summer Army. The Danes had established a camp at Reading and the previous battles of Englefield, the Battle of Reading and the Battle of Ashdown, had proved indecisive with victories to both sides.

The Hunters: Moonsong Chapter Thirty-Eight

Bonnie didn't have her keys. She knew exactly where they were, but that didn't do her much good: they were lying on the bedside table next to Zander's neat plain single bed. She cursed and kicked at the door, tears running down her face. How was she going to get any of her stuff back? Some guy opened the front door of the building for her. â€Å"Jeez, relax,† he said, but Bonnie had already pushed past him and was running up the stairs to her room. Please let them be here, she thought, clinging to the banister, please. She had no doubt that Elena and Meredith would comfort her, would help her, no matter what she had said to them during their fight. They would help Bonnie figure out what to do. But they might be out. And she'd have no idea where to find Meredith and Elena, no idea where they spent their free time these days. How had she grown so far apart from her best friends? Bonnie wondered, wiping her hands across her cheeks, smearing away her tears and snot. Why had she treated them so badly? They were just trying to protect her. And they were right about Zander; they were so right. She snuffled miserably. When she reached the top of the stairs, Bonnie banged on their room door with her fist, hearing quick movement inside. They were home. Thank God. â€Å"Bonnie?† Meredith said, startled, when she opened the door, and then, â€Å"Oh, Bonnie,† as Bonnie threw herself, sobbing, into Meredith's arms. Meredith hugged her, tight and fierce, and, for the first time since she had jumped away from Zander and run for the fire escape, Bonnie felt safe. â€Å"What's the matter, Bonnie? What happened?† Elena was behind Meredith, peering at her anxiously, and part of Bonnie noticed that Elena's own white and startled face was marked with tears. She was interrupting something, but Bonnie couldn't focus on that now. Past Elena, she caught sight of herself in the mirror. Her hair stood out around her face in a wild red cloud, her eyes were glassy, and her pale face was smeared with dirt and tears. I look, Bonnie thought with a semihysterical silent laugh, like I was chased by werewolves. â€Å"Werewolves,† she wailed as Meredith pul ed her into the room. â€Å"They're al werewolves.† â€Å"What are you – † Meredith broke off. â€Å"Bonnie, do you mean Zander and his friends? They're werewolves?† Bonnie nodded furiously, burying her face against Meredith's shoulder. Meredith pushed her back and looked careful y into her eyes. â€Å"Are you sure, Bonnie?† she asked gently. She looked to Elena, and they both turned and glanced out the window at the sky. â€Å"Did you see them change? It's not the ful moon yet.† â€Å"No,† Bonnie said. She tried to catch her breath, taking harsh sobbing gulps of air. â€Å"Zander told me. And then – oh, Meredith, it was so scary – I ran, and they chased me.† She explained what happened, on the roof and on the lawns of the col ege. Meredith and Elena looked at each other quizzical y, then back at Bonnie. â€Å"Why did he tel you?† Elena asked. â€Å"He couldn't have thought you would have a good reaction to the news; it would have been easier to keep hiding it.† Bonnie shook her head helplessly. Meredith arched an ironic eyebrow at her. â€Å"Even monsters can fal in love,† she said. â€Å"I thought you knew that, Elena.† She glanced at her hunting stave, leaning against the foot of her bed. â€Å"When the ful moon comes, now I'l know what to look for.† Bonnie stared at her in horror. â€Å"You're not going to hunt them, are you?† It was a stupid question, she knew. If Zander and his friends real y were behind the murders and disappearances on campus, Meredith had to hunt them. It was her responsibility. Al of their responsibilities, real y, because if they were the only ones who knew the truth, they were the only ones who could keep everyone else safe. But Zander, something inside her howled in pain. Not Zander†¦ â€Å"None of the attacks occurred during a ful moon,† Elena said thoughtful y, and Meredith and Bonnie both blinked at her. â€Å"That's true,† Meredith agreed, frowning as she thought back. â€Å"I don't know how we didn't realize that before. Bonnie,† she said. â€Å"Think careful y before you answer this question. You've been spending a lot of time with Zander and his friends. Did anything about them make you think they might hurt someone, real y hurt them, when they're not in wolf form?† â€Å"No!† Bonnie said automatical y. Then she stopped and thought and said, more slowly, â€Å"No, I don't think so. Zander's real y kind, I don't think he could fake that. Not al the time. They play rough, but I've never seen them fight with anyone except one another. And even with one another, they're not real y fighting, just more sort of messing around.† â€Å"We know what you mean,† Meredith said dryly. â€Å"We've seen it.† Elena tucked a lock of hair behind her ear. â€Å"The disappearances weren't during the ful moon, either,† she said thoughtful y. â€Å"Although I guess they could have been taking people and holding them prisoner, planning to kil them when they were in wolf form later, but that doesn't – I mean, I don't have much werewolf experience besides Tyler, but – it doesn't sound very wolfy to me. Too sterile, sort of.† â€Å"But†¦Ã¢â‚¬  Bonnie sank down on her bed. â€Å"You think there's a chance Zander and his friends might not be the kil ers? Then who are the kil ers?† She felt bewildered. Meredith and Elena exchanged a grim glance. â€Å"You wouldn't believe some of the stuff that happens on this campus,† Elena said. â€Å"We'l fil you in.† Bonnie rubbed her face with her hands. â€Å"Zander told me he was a good werewolf,† she said. â€Å"That he didn't hurt people. Is that possible? Is there even such a thing as a good werewolf?† Meredith and Elena sat down next to her, one on each side, and wrapped their arms around her. â€Å"Maybe?† Elena said. â€Å"I real y hope so, Bonnie. For your sake.† Bonnie sighed and cuddled closer to them, resting her head on Meredith's shoulder. â€Å"I need to think about al this,† she said. â€Å"At least I'm not alone. I'm so glad I have you guys. I'm sorry we fought.† Elena and Meredith both hugged her more tightly. â€Å"You've always got us,† Elena promised. A wild hammering came at the door. Elena glanced at Bonnie, who tensed visibly on her bed but kept her hands over her face, and then at Meredith, who nodded firmly to her and climbed to her feet, reaching for her stave. It had occurred to both of them that, if Zander wanted to talk to Bonnie, he knew exactly where she lived. Elena flung open the door, and Matt tumbled in. He was wearing a long black hooded robe, and his eyes were frantic as he gasped for breath. â€Å"Matt?† she said in surprise, and looked to Meredith, who gave a tiny shrug and put her stave back down. â€Å"What's the matter? And what are you wearing?† He grabbed Elena by the shoulders, holding her too tightly. â€Å"Stefan's in danger,† he said, and she froze. â€Å"The Vitale Society – they're vampires. Stefan saved me, but he can't fight them al .† He quickly explained what happened in the secret chamber below the library, how Stefan came to his rescue, then sent him to get help. â€Å"We don't have much time,† he finished. â€Å"They're kil ing – they're changing al the pledges into vampires. I don't even know what Ethan's got planned for Stefan. We have to go back. And we need Damon.† Meredith picked up her stave again and, grim faced, was taking her satchel of weapons from her closet. Bonnie was on her feet, too, fists clenched, jaw firm. â€Å"I'l cal Damon,† Elena said, picking up her phone. Damon had dropped her off at the dorm after walking her back from James's house, but he was probably stil nearby. Stefan in danger. If he †¦ if anything happened to him, if something happened while they were apart, while he was stil hurt and it was her fault, Elena would never forgive herself. She wouldn't deserve to be forgiven. Guilt was like a knife in her stomach. How could she have hurt Stefan like that? She was attracted to Damon, sure, even loved him, but she'd never had any question that Stefan was her true love. And she had broken his heart. She'd do anything to save Stefan. She'd die for him if she had to. And, as she listened to the ringing on the other end of the line and waited for Damon to pick up, she realized that there was no question in her mind that Damon would do anything to save Stefan, too.

Chapter 19 Solutions

Chapter 19 Completing the Audit / Postaudit Responsibilities |Learning Check | 19-1. The three categories of activities in completing the audit are (a) completing field work, (b) evaluating the findings, and (c) communicating with the client. 19-2. The activities involved in completing the field work are (a) making subsequent events review, (b) reading minutes of meetings, (c) obtaining evidence concerning litigation, claims, and assessments, (d) obtaining client representation letter, and (e) performing analytical procedures. 19-3. a.Subsequent events are events that occur between the balance sheet date and the issuance date of the auditor's report (which is not the same as the date of the report) that may affect the financial statements on which the report is rendered. The subsequent events period extends from the balance sheet date to the end of field work on the engagement. b. The types are: †¢ Type 1 consists of those events that provide additional evidence with respect to conditions that existed at the date of the balance sheet and affect the estimates inherent in the process of preparing financial statements. Type 2 consists of those events that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. †¢ Type 1 events require adjustment of the financial statements. Type 2 events require disclosure, and in very material cases, by attaching pro-form data to the financial statements. c. The auditor is required by GAAS to search for and to evaluate subsequent events up to the date of the auditor's report, which should be as of the end of field work.This responsibility is discharged by (1) being alert for subsequent events in performing year-end substantive tests after the balance sheet date, and (2) performing specific procedures at or near the completion of field work. 19-4. a. Regarding litigation, claims, and assessments (LCA), the auditor should obtain evidential matter o n †¢ The existence of a condition, situation, or set of circumstances indicating an uncertainty as to the possible loss to an entity arising from the LCA. The period in which the underlying cause for legal action occurred. †¢ The degree of probability of an unfavorable outcome. †¢ The amount or range of potential loss. b. A letter of audit inquiry is a letter sent by management to the company's outside legal counsel requesting the lawyer to send specified information directly to the auditor about LCA against the company. The letter is the auditor's primary means of obtaining evidence about LCA. c. When the lawyer fails to respond, the auditor has a scope limitation.Depending on materiality, the auditor will express either a qualified opinion or a disclaimer of opinion. 19-5. a. The objectives of a â€Å"rep† letter are: (1) confirm oral representations given to the auditor, (2) document the continuing appropriateness of such representations, and (3) reduce the possibility of misunderstandings concerning management's representations. b. When the auditor is unable to obtain a rep letter or support a management representation that is material to the financial statements by other audit procedures, there is a scope limitation.Depending on materiality, the auditor will express either a qualified opinion or a disclaimer of opinion 19-6. a. The objectives of an overall review are to assist the auditor in (1) assessing conclusions reached in the audit and (2) evaluating the financial statement presentation taken as a whole. b. The review should be made by an individual having comprehensive knowledge of the client's business and industry. Normally, either the partner in charge of the audit or the top manager on the engagement makes the review. c.Analytical procedures performed during the final stages of the audit should be †¢ Applied to critical audit areas identified during the audit. †¢ Based on financial statement data after all audit adjustments and reclassifications have been recognized. As in other cases, the data may be compared to (1) expected company results, (2) available industry data, and (3) relevant nonfinancial data. 19-7. a. The two objectives in evaluating the findings are determining (1) the type of opinion to be expressed and (2) whether GAAS has been met in the audit. . Four steps in meeting these objectives are: †¢ Making a final assessment of materiality and audit risk. †¢ Making a technical review of financial statements. †¢ Formulating an opinion and drafting the audit report. †¢ Making final review(s) of the working papers. 19-8. a. The purposes of the auditor's final assessment of materiality and audit risk are to determine whether (1) the auditor's preliminary judgments concerning materiality have been met and (2) audit risk is at an acceptable level to warrant the expression of an opinion. . Known misstatement is an uncorrected misstatement in an account identified thr ough substantive tests of details of transactions and balances. Likely misstatement is the total error in an account resulting from (1) known misstatements, (2) projected uncorrected misstatements estimated through audit sampling techniques, and (3) estimated misstatements detected through analytical procedures and quantified by other auditing rocedures. Aggregate likely misstatement is the sum of likely misstatements in all accounts. 19-9. a. Professional standards establish a responsibility for the auditor to evaluate whether there is substantial doubt about the client’s ability to continue as a going concern for a reasonable period of time, not to exceed one year beyond the date of the financial statements being audited (generally one year from balance sheet date).Ordinarily, information that would raise substantial doubt about the going concern assumption relates to the entity's inability to continue to meet its obligations as they become due without substantial dispositi on of assets outside the ordinary course of business, restructuring of debt, externally forced revisions of its operations, or similar actions. b. The auditor normally evaluates whether there is substantial doubt about the client’s ability to continue as a going concern based on the results of normal audit procedures performed in planning, in gathering evidence to support various audit objectives, and in completing the audit. . If the auditor concludes that substantial doubt exists, he or she should consider the need for the following disclosures: †¢ Pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. †¢ The possible effects of such conditions and events. †¢ Management's evaluation of the significance of those conditions and events and any mitigating factors. †¢ Possible discontinuance of operations. †¢ Management's plans (includin g relevant prospective financial information). n  3 †¢ Information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. d. If, after considering identified conditions and management's plans, the auditor concludes that substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time remains, the audit report is normally an unqualified audit opinion with an explanatory paragraph about the uncertainty (following the opinion paragraph) to reflect that conclusion.The auditor's conclusion about the entity's ability to continue as a going concern should be expressed through the use of the phrase â€Å"substantial doubt about its (the entity's) ability to continue as a going concern. † If the auditor concludes that the entity's disclosures with respect to the entity's ability to continue as a going concern are inadequate, a departure from generally accepted accounting pr inciples exists. This may result in either a qualified (except for) or an adverse opinion. 19-10.The technical review of the financial statements includes matters pertaining to the form and content of each of the basic statements as well as to required disclosures. Most CPA firms use separate checklists for SEC and non-SEC clients. The auditor who performs the initial review of the financial statements completes the checklists. The manager and partner in charge of the engagement (in the case of a publicly held client then review the checklists, a partner who was not a member of the audit team) reviews them again. 19-11. a. The opinion to be expressed is determined by the partner in charge of the engagement.The decision is made on the basis of the findings made by the audit team during the audit. b. Proposed adjustments and disclosures are discussed with the client and differences are resolved. Ordinarily, agreement is reached and an unqualified opinion can be expressed. 19-12. a. Th e primary reviewers and the nature of their reviews are: |Reviewer |Nature of Review | |Manager |Reviews working papers prepared by seniors and reviews some or all of the working | | |papers reviewed by seniors. |Partner in charge |Reviews working papers prepared by managers and reviews other working papers on a | |of engagement |selective basis. | b. The engagement partner's review of the working papers is designed to obtain assurance that †¢ The work done by subordinates has been accurate and thorough. †¢ The judgments exercised by subordinates were reasonable and appropriate in the circumstances. †¢ The audit engagement has been completed in accordance with the conditions and terms specified in the engagement letter. All significant accounting, auditing, and reporting questions raised during the audit have been properly resolved. †¢ The working papers support the auditor's opinion. †¢ Generally accepted auditing standards and the firm's quality control p olicies and procedures have been met. c. The second partner may be more objective than the partner on the engagement. Thus, the second partner review provides additional assurance that GAAS have been met. Second partner reviews are mandatory for SEC registrants. 19-13.The auditor's communications with the client at the conclusion of the audit involve the audit committee of the board of directors (or the board directly) and management. 19-14. a. Reportable conditions represent significant deficiencies in the design or operation of the internal control structure, which could adversely affect the organization's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements. The magnitude of a reportable condition determines whether it is also a material weakness.A material weakness is defined as a reportable condition in which the design or operation of the specific internal control structure elements does not r educe to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned duties. b. A report issued on reportable conditions should: †¢ Indicate that the purpose of the audit is to report on the financial statements and not to provide assurance on the internal control structure. Include the definition of reportable conditions. †¢ Include the restriction on distribution (e. g. restricted to the audit committee, management, and others within the organization). In addition, the reportable conditions should be described in one or more separate paragraphs. 19-15. When the auditor separately identifies and describes material weaknesses in his or her report, two additional paragraphs are required. The first paragraph should contain a definition of the term material weakness and a description of the reportable conditions that are material weaknesses.The second additional paragraph should describe the limitations of the auditor's work, noting specifically that the auditor's consideration of the internal control structure would not necessarily disclose all matters considered to be material weaknesses. 19-16. a. The communication may be oral or written, and it may occur during or shortly after the audit. b. The communication with the audit committee may include such matters as †¢ Auditor's responsibilities under GAAS. †¢ Significant accounting policies. †¢ Management judgments and accounting estimates. †¢ Significant audit adjustments. Disagreements with management. †¢ Consultation with other accountants. †¢ Major issues discussed with management prior to retention. †¢ Difficulties in performing the audit. In addition, the auditor must communicate reportable conditions. 19-17. a. The purpose of a management letter is to provide management with recommendations for improving the efficiency and effectiveness of its operations. b. A management letter may include comments on †¢ Internal control matters that are not considered to be reportable conditions. †¢ Management of resources such as cash, inventories, and investments. Other value-added recommendations on how to improve organization performance. †¢ Tax related matters. 19-18. a. The auditor has no responsibility to make inquiry or to perform any auditing procedures on subsequent events occurring after field work but before issuance of the report. When a situation comes to the auditor's attention, he or she is required to evaluate the item and consider its effect on the report that is being issued. b. The auditor may use the event date as the date of the auditor's report provided all subsequent events review procedures are performed for the period between the original report date and the event date.Alternatively, the auditor may use dual dating in which the report contains two dates: (1) the original date of the report, and (2) a date that refers to the subsequent event that has occurred between the original date of the report and the date of its issuance. In this case, it is not necessary to extend performance of all subsequent events review procedures through the later date except as to the particular event giving rise to the dual dating. 19-19. a. The auditor has no responsibility for the postaudit discovery of facts existing at the date of the audit report.However, when the auditor becomes aware of such facts and the facts may have affected the report that was issued, he or she must ascertain the reliability of the information. b. When the client refuses to make the necessary disclosures, the auditor should notify each member of the board of directors of such refusal and take the following steps to prevent further reliance on the audit report: †¢ Notify the client that the audit report must no longer be associated with th e financial statements. Notify the regulatory agencies having jurisdiction over the client that the report should no longer be relied on. †¢ Notify (generally via the regulatory agency) each individual known to be relying on the statements that the report should no longer be relied on. 19-20. a. When the auditor has been able to make a satisfactory investigation and has determined that the information is reliable, he or she should describe the effects the subsequently acquired information would have had on the financial statements and the auditor's report. b.When the client has not cooperated and the auditor has been unable to make a satisfactory investigation, without disclosing the specific information, the auditor should (1) indicate the lack of cooperation and (2) state that if the information is true, the audit report should no longer be relied on. 19-21. a. The auditor has no responsibility to make any retrospective review of his or her work. However, when knowledge is ob tained of possible omitted procedures, the auditor should assess their importance to his or her ability to support the previously expressed opinion. b.The auditor may find that he or she (1) can support the opinion or (2) cannot support the opinion. In the latter case, the auditor should perform the omitted procedures and if necessary prevent further reliance on the report. |Objective Questions | |19-22. |1. b |2. a |3. c | | | |19-23. |1. a |2. b |3. b |4. c | | |19-24. |1. a |2. c |3. b | | | |Comprehensive Questions | 19-25. (Estimated time – 20 minutes) . The first type of subsequent events includes those events that provide additional evidence concerning conditions that existed at the balance sheet date and affect the estimates inherent in the process of preparing financial statements. This type of subsequent events requires that the financial statements be adjusted by any changes in estimates resulting from the use of such additional evidence. The second type of subsequ ent events consists of those events that provide evidence concerning conditions that did not exist at the balance sheet date but arose subsequent to that date.These events should not result in adjustment to the financial statements but may be such that disclosure is required to keep the financial statements from being misleading. b. The auditing procedures Green should consider performing to gather evidence concerning subsequent events include the following: †¢ Compare the latest available interim statements with the financial statements being audited. †¢ Ascertain whether the interim statements were prepared on the same basis as the audited financial statements. Inquire whether there was any significant change in the capital stock, long-term debt, or working capital to the date of inquiry. †¢ Inquire about the current status of items in the audited financial statements that were accounted for on the basis of tentative, preliminary, or inconclusive data. †¢ Inqui re about any unusual adjustments made since the balance sheet date. †¢ Read or inquire about the minutes of meetings of stockholders or the board of directors. †¢ Inquire of the client's legal counsel concerning litigation, claims, and assessments. Obtain a management representation letter, dated as of the date of Green's report, as to whether any subsequent events would require adjustment or disclosure. †¢ Make such additional inquiries or perform such additional procedures as Green considers necessary and appropriate. 19-26. (Estimated time – 30 minutes) a. 1. A subsequent events review is used to provide reasonable assurance that the auditor is aware of significant events that have a material effect on financial statements. These are events that have occurred after the date of the financial statements but before the issuance of the audit report. 2.If the subsequent event is one that provides additional evidence concerning conditions existing at the date of t he financial statements, then the financial statements must be adjusted. If the subsequent event is one that provides evidence concerning conditions that arose after the date of the financial statements, disclosure is required. b. 1. The auditor obtains written representations from the client as part of the evidence gathered to meet the third standard of field work. The purpose of these written representations by management is to †¢ Confirm oral representations given to the auditor. Impress on management that it has the primary responsibility for the financial statements. 2. The client representation letter may include statements concerning the following matters: †¢ Completeness and availability of the accounting records and minutes of meetings of shareholders, directors, and committees. †¢ Absence of unrecorded transactions and errors and irregularities in the financial statements. †¢ Existence of related party transactions or contingencies. †¢ Plans or int entions that may affect the carrying value of assets and liabilities. . 1. The purpose of the management letter is to communicate to management the auditor's recommendations regarding improvements in the efficiency and the effectiveness of matters that came to the auditor's attention during the audit. 2. Three major subjects that may be addressed in the management letter include the following. †¢ Internal control structure weaknesses that are considered immaterial. †¢ Improvements to the accounting and information system. †¢ Improvements to the internal controls related to achieving the objectives of the organization. 9-27. (Estimated time – 25 minutes) |Item No. | |Required Disclosure or | | |Audit Procedures |Entry and Reasons | |1. |Goods in-transit would be detected in the course of the |The receipt of the goods provides additional evidence with | | |auditor's review of the year-end cutoff of purchases.The |respect to conditions that existed at the date of the balance | | |auditor would examine receiving reports and purchase invoices|sheet and hence the financial statements should be adjusted to| | |to make certain that the liability to suppliers had been |take into account such additional information. | | |recorded for all goods included in inventory, and that all | | | |goods for which the client was liable at year end were | | | |recorded in inventory. | |2. |Settlements of litigation would be revealed by requesting |Settlements of litigation would require an adjustment of the | | |from the company's legal counsel a description and evaluation|financial statements since the events that gave rise to the | | |of any litigation, impending litigation, claims, and |litigation had taken place prior to the balance sheet date. | |contingent liabilities of which he or she has knowledge that | | | |existed at the date of the balance sheet being reported upon,| | | |together with a description and evaluation of any additional | | | |matters of a like nature which come to his or her attention | | | |up to the date the information is furnished.A review of cash| | | |disbursements for the period between the balance sheet date | | | |and completion of field work may also reveal evidence of the | | | |settlement. | | | | | | | | | | | | | | | | | | | | | | | | | |3. |The purchase would normally be Revealed in general |The purchase of a new business is not an event that provides | | |conversations with the client and would further be detected |evidence with respect to conditions existing at the balance | | |by reading the minutes of meetings of stockholders, |sheet date; hence, it does not require adjustments in the | | |directors, and appropriate committee.In addition, because |financial statements. However, such an event would normally be| | |the amount paid is likely to be unusually large in relation |of such importance that disclosures of it is required to keep | | |to other cash disbursements, a review of cash di sbursements |the financial statements from being misleading. If the | | |for the period between the balance sheet date and completion |acquisition is significant enough, it might be advisable to | | |of field work is likely to reveal such an extraordinary |supplement the historical statements with pro-forma statements| | |transaction.Moreover, because a purchase of a business |indicating the financial results if the two firms had been | | |usually requires a formal purchase agreement, the letter from|consolidated for the year ending December 31, 19XO. Otherwise,| | |the firm's legal counsel would probably have revealed the |disclosure in footnotes to the financial statements would be | | |purchase. |adequate. Occasionally, a situation of this type may have such| | | |a material impact on the entity that the auditor may wish to | | | |include in the audit report an explanatory paragraph directing| | | |the reader's attention to the event and its effect. | |4. Inventory losses attr ibutable to a flood would be brought to |Losses attributable to floods subsequent to the balance sheet | | |the auditor's attention through inquires and discussions with|date to not provide in formation with respect to conditions | | |corporate officers and executives. Moreover, the auditor |that existed at the balance sheet data; hence, adjustment in | | |would know the location of the plants and warehouses of |the financial statements is not required. However, because the| | |clients and upon becoming aware of any major floods in such a|losses are material, they should be revealed in footnotes to | | |location, he or she would investigate to determine if the |the financial statements. Occasionally, situation of this type| | |client's facilities had suffered any damage. may have such a material Impact on the entity that the auditor| | | |may wish to include in the audit report an explanatory | | | |paragraph directing the reader's attention to the event and | | | |its effect. | |5. |The sale of bonds or other securities would require a filing |Sales of bonds or capital stock are transactions of the type | | |with the SEC in which the auditor would presumably be |that do not provide information with espect to conditions | | |involved. In addition, the sale would be revealed by reading |that existed at the balance sheet date; hence, adjustment of | | |the minutes of directors and finance committee's meetings, by|the financial statements is not required. However, such sales | | |corresponding with the client's attorneys and by examining |may be of sufficient importance to require footnote | | |the cash receipts books in the period subsequent to the |disclosure. Occasionally, a situation of this type may have | | |balance sheet date for evidence of unusually large receipts. such a material impact on the entity that the auditor may wish| | | |to in the audit report an explanatory paragraph directing the | | | |reader's attention to the event and its effect. | 19-28. (Estimated time – 15 minutes) The substantive audit procedures that Young should apply when testing for loss contingencies relating to litigation, claims, and assessments include the following: †¢ Read minutes of meetings of stockholders, directors, and committees. †¢ Read contracts, loan agreements, leases, and other documents. †¢ Read correspondence with taxing and other governmental agencies. †¢ Read correspondence with insurance and bonding companies. Read confirmation replies information concerning guarantees. †¢ Discuss with management the entity's policies and procedures for identifying, valuating, and accounting for litigation, claims, and assessments. †¢ Obtain from management or the client's general counsel a description and evaluation of litigation, claims, and assessments. †¢ Obtain written assurance from management that the financial statements include all accruals †¢ and disclosures required by Statement on Financi al Accounting Standards No. 5. †¢ Examine documents in the client's possession concerning litigation, claims, and assessments, including correspondence from lawyers. Obtain an analysis of professional fee expenses and review supporting invoices for indications of contingencies. †¢ Request the client's management to prepare for transmittal a letter of inquiry to those lawyers consulted by the client concerning litigation, claims, and assessments. †¢ Compare the lawyer's response to the items in the letter of inquiry to the description and evaluation of litigation, claims, and assessments obtained from management. †¢ Determine that the financial statements include proper accruals and disclosures of the contingencies. 19-29. (Estimated time – 25 minutes) 1. Disagree. Generally letters silent on particular aspects of the request letter require follow-up.The auditor should contact the attorney and confirm that he or she intended the letter to completely respond to the request letter and was silent because there were no issues to discuss. Documentation of this confirmation should be included in the working papers. 2. Disagree. A useful evaluation is not always possible. For instance, it may include an element difficult to predict or to which the lawyer may not have paid sufficient attention to make an evaluation. If the matter involved constitutes a material or contingent liability, the auditor will likely conclude there is an uncertainty with effects on the financial statements that can't be determined, and he or she should consider the effects of that uncertainty on the audit report. 3. Disagree.The attorney's opinion is an example of a marginally acceptable opinion. If such an opinion is issued on litigation where loss would seriously impair the company's operations, the auditor must give a qualified opinion and possibly consider a disclaimer of opinion. 4. Disagree. In some cases, attorneys, auditors, and clients discuss matters involv ing litigation, and during such informal discussions some attorneys express their opinions as to the outcome of disputed matters. Such oral opinions should be expressed in writing by the attorney, and if they are not reduced to writing, the discussions generally should not be considered audit evidence. 5. Disagree.The law firm derives all or substantially all of its fees from the client. This is, in essence, analogous to in-house counsel. Evidence from in-house counsel may provide the auditor with the necessary corroboration in some cases. However, since the liability here is great, complete reliance on such evidence is not justified. 19-30. (Estimated time – 25 minutes) Other matters that Alderman's representation letter should specifically confirm that: †¢ The financial statements referred to above are fairly presented in conformity with generally accepted accounting principles. †¢ We have made available to you all— †¢ Financial records and related dat a. Minutes of the meetings of stockholders, directors, and committees of directors, or summaries of actions of recent meetings for which minutes have not yet been prepared. †¢ There are no material transactions that have not been properly recorded in the accounting records underlying the financial statements. †¢ There has been no— †¢ Fraud involving management or employees who have significant roles in internal control. †¢ Fraud involving others that could have a material effect on the financial statements. †¢ Management believes that the effects of any uncorrected financial statement misstatements aggregated by the auditor during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole. The following have been properly recorded or disclosed in the financial statements: †¢ Related-party transactions, including sales, purchases, loans, transfers, leasing arrangements, and guarantees, and amounts receivable from or payable to related parties. †¢ Guarantees, whether written or oral, under which the company is contingently liable. †¢ Significant estimates and material concentrations known to management that are required to be disclosed in accordance with the AICPA's Statement of Position 94-6, Disclosure of Certain Significant Risks and Uncertainties. †¢ There are no other liabilities or gain or loss contingencies that are required to be accrued or disclosed by FASB Statement No. 5. †¢ The company has satisfactory title to all owned assets, and there are no liens or encumbrances on such assets nor has any asset been pledged as collateral. The company has complied with all aspects of contractual agreements that would have a material effect on the financial statements in the event of noncompliance. †¢ Debt securities that have been classified as held-to-maturity have been so classified due to t he company's intent to hold such securities, to maturity and the company's ability to do so. All other debt securities appropriately have been classified as available-for-sale or trading. †¢ Provision has been made to reduce excess or obsolete inventories to their estimated net realizable value. †¢ Capital stock reserved for options, warrants, conversions, or other requirements have been properly disclosed. 19-31. (Estimated time – 30 minutes) a.The use of overall analytical review at the final stages of an audit has two general advantages to the CPA: (1) a broad view is obtained of the date of the financial statements, and (2) the CPA's attention is focused on exceptions or variations in the data. A broad view of the data under audit is needed by the CPA to draw conclusions about the data as a whole. Merely looking at individual transactions may lead the auditor to overlook important variations in the underlying data. The application of analytical procedures to the final data to obtain this broad view requires a discerning analysis of the data, which results in overall conclusions upon which the CPA's audit satisfaction rests. The CPA is thus able to satisfy him or herself as to the reasonableness, validity, and consistency of the data in view of the surrounding circumstances.The focusing of the CPA's attention on exceptions or variations in the data results in a more efficient and economical audit because there is a reduction in the amount of detailed testing which would be required, in the absence of overall checks, to uncover these exceptions or variations. Furthermore, manipulations of accounts may be revealed because the double-entry bookkeeping system extends the effects of manipulations to additional accounts, which will then bear a changed relationship to other accounts. In addition, managerial problems and trouble spots will be highlighted for the CPA and may lead to the opportunity to be of additional service to the client. b.The ra tios that a CPA may compute during an audit as overall checks on balance sheet accounts and related nominal accounts may include the following: †¢ Accruals of individual expenses to related total expenses. †¢ Calculations of the entity’s operating cycle. †¢ Individual components of return on assets and return on equity. †¢ The impact of an entity’s financing and investing activities. †¢ The ability of cash flow from operations to service debt and dividends. †¢ Other measures of the entity’s liquidity and solvency. c. 1. The possible reasons for a decrease in the rate of inventory turnover include the following: †¢ Decline in sales. Increase in inventory quantities, intentional or unintentional. †¢ Incorrect computation of inventory because of errors in pricing, extensions, or taking of physical inventory. †¢ Inclusion in inventory of slow-moving or obsolete items. †¢ Erroneous cutoff of purchases. †¢ Erroneo us cutoff of sales under the perpetual inventory accounting method. †¢ Unrecorded purchases. †¢ Change in inventory valuation method. 2. The possible reasons for an increase in the number of days' sales in receivable include the following: †¢ Change in credit terms. †¢ Decreasing sales. †¢ Change in the sales mix of products with different sales terms. †¢ Change in mix of customers. †¢ Improper sales cutoff. Unrecorded sales. †¢ Lapping. †¢ Slower collections caused by tighter economic conditions or lowering of the quality of the receivables. 19-32. (Estimated time – 20 minutes) a. Reportable conditions are matters that come to an auditor's attention, which, in the auditor's judgment, should be communicated to the client's audit committee or its equivalent because they represent significant deficiencies in the design or operation of the internal control structure, which could adversely affect the organization's ability to record, p rocess, summarize, and report financial data consistent with the assertions of management in the financial statements.Material weaknesses are reportable conditions in which the design or operation of specific internal control structure elements do not reduce, to a relatively low level, the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. b. An auditor is required to identify reportable conditions that come to the auditor's attention in the normal course of an audit, but is not obligated to search for reportable conditions. The auditor uses judgment as to which matters are reportable conditions. Provided the audit committee has acknowledged its understanding and consideration of such deficiencies and the associated risks, the auditor may decide certain matters do not need to be reported unless, because of changes in management or the audit committee, or because of the passage of time, it is appropriate to do so.Conditions noted by the auditor that are considered reportable should be reported, preferably in writing. If information is communicated orally, the auditor should document the communication. The report should state that the communication is intended solely for the information and use of the audit committee, management, and others within the organization. The auditor may identify and communicate separately those reportable conditions the auditor considers to be material weaknesses, but may not state that no reportable conditions were noted during the audit. Reportable conditions may be communicated during the course of the audit rather than after the audit is concluded. depending on the relative significance of the matters noted and -the urgency of corrective follow-up action. 19-33. (Estimated time – 30 minutes) |a. |Deficiency |Proper Wording | |1 . |In completing our audit |In planning and performing our audit | |2. |Its internal control environment |Its internal control structure | |3. |Not to express an opinion |Not to provide assurance | |4. The design and effectiveness |The internal control structure and its operation | | |of the system 0f internal control | | |5. |Under GAAS |Under standards | |6. |Potential weaknesses |Significant | |7. |To prepare financial |To record, process, summarize, and report financial data consistent| | |statements in conformity |with the assertions of management in the financial statements. | |8. For the audit committee |For the information and use of the audit committee, management, and| | |and others |others | b. A reportable condition may be of such magnitude as to be a material weakness. Thus, all material weaknesses are reportable conditions, but all reportable conditions are not material weaknesses. The two terms are defined as follows: †¢ Reportable conditions represent signific ant deficiencies in the design or operation of the internal control structure, which could adversely affect the organization's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements. A material weakness is a reportable condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. c. Two additional paragraphs are required when the auditor refers to material weaknesses in the audit report. The first paragraph should include a definition of a material weakness and a description of reportable conditions that are material weaknesses.The second paragraph should describe the limitations of the au ditor's work; i. e. , that the work would not necessarily disclose all reportable conditions that are also material weaknesses. 19-34. (Estimated time – 20 minutes) a. Independent auditors use a management letter to call to management's attention matters that the auditor has noted during the course of the audit engagement but which did not fall within the scope of the opinion. The management letter provides an excellent vehicle for suggesting value-added services that can assist the business in improving organizational performance. A management letter is rendered as a constructive service to suggest improvements as well as point out deficiencies. b.Many types of information can be covered in a management letter. The major, broad areas which are presented and discussed in the management letter include: †¢ Suggestions for modifying and improving a client's internal controls. †¢ Recommendations for changes and improvements in accounting systems to better meet managemen t's information needs. †¢ Suggestions for improving the management of resources such as cash, inventories, and investments. †¢ Comments regarding tax related matters. A detailed example of a suggestion for improving business practices follows: We understand that your accounting system offers discounts to customers who purchase in significant volumes.The program that grants these volume discounts as it prices a sales invoice does so after important information on gross margins has been reported to department managers. While sales invoices and underlying accounting information is correct, it does not agree with management information that is provided to sales managers as they make pricing decisions. As soon as possible you need to change the program that calculates the sales discounts so that gross margins and other information used by sales management includes the volume discounts offered customers. (Answer updated from original ICMA answer. ) 19-35. (Estimated time  œ 30 minutes) a. 1. 1–subsequent event during the subsequent event period requiring adjustment. 2. 1–subsequent event during the subsequent event period requiring adjustment. 3. –subsequent event during the subsequent event period requiring disclosure. 4. 2–subsequent event during the subsequent event period requiring disclosure 5. 1–subsequent event during the subsequent event period requiring adjustment. 6. 4–subsequent event occurring after field work but before issuance of report. 7. 4–subsequent event occurring after field work but before issuance of report. 8. 5–postaudit discovery of facts existing at date of report. The date field work is completed is not specifically given. This answer is based on the customary practice of dating the audit report as of the end of field work (i. e. , February 26). b.For categories (1) and (2) the auditor has the responsibility for identifying and evaluating subsequent events up to the d ate of the auditor's report. In discharging this responsibility, the auditor should be alert for subsequent events in performing substantive tests, and also perform specific auditing procedures at or near the completion of field work. For categories (3) and (4), the auditor has no responsibility to make inquiry or to perform any auditing procedures during this time period to discover subsequent events. However, if knowledge of such an event comes to the auditor's attention, he or she should determine whether the event requires adjustment of or disclosure in the financial statements. For category (5), the auditor has no responsibility for their discovery.However, if the auditor becomes aware of such facts and the facts may have affected the report that was issued, the auditor is required to ascertain the reliability of the information. c. Information about the items would be obtained from the following: 1. Inquiry of management; client â€Å"rep† letter. 2. Review of bad debt write-offs in January. 3. Reading of minutes. 4. Observation of fire; newspaper account of fire; inquiry of management. 5. Inquiry of management; lawyer's letter; and client â€Å"rep† letter. 6. Reading of minutes. 7. Newspaper story on takeover; inquiry of management. 8. Inquiry of management; lawyer's letter; and client ‘rep† letter.If the client fails to make required disclosure, the auditor should notify each member of the board of directors of such refusal and take the following steps to prevent further reliance on the audit report and: †¢ Notify the client that the audit report must no longer be associated with the financial statements. †¢ Notify regulatory agencies having jurisdiction over the client that the report should no longer be relied on. †¢ Notify (generally via the regulatory agency) each individual known to be relying on the statements that the report should no longer be relied on. |Cases | 19-36. See separate file with answers to the comprehensive case related to the audit of Mt. Hood Furniture that is included with this chapter. NOTE: Several revisions were made to this problem to correct printing errors. The revised problem is posted on the student resources website. | 19-37. (Estimated time – 25 minutes) a. and b. 1. The state government's approval of a plan for the construction of an express highway would have come to the CPA's attention through inquiries of officers and key personnel, examination of the minutes of the meetings of the board of directors and stockholders, and reading local newspapers. The details of the item would not have to be disclosed as a separate footnote because all fixed assets of the corporation, including the right to the condemnation award, were to be sold as of March 1, 19X1. 2.It is improbable that the CPA would learn the source of the $25,000 unless it were revealed in a discussion with the president or his personal accountant, or unless the auditor prepared the pres ident's personal income tax return, in which case the interest charges would have led to his investigation of the use to which the funds were put. Setting out the loan in the balance sheet as a loan from an officer would be sufficient disclosure. The source from which the officer obtained the funds would not be disclosed because it is the officer's personal business and has no effect upon the corporation's financial statements. Indeed, disclosure of the funds' source might be construed as detrimental to the officer. 3. The additional liability for the ore shipment would have been revealed by CPA's scanning of January transactions. The CPA's regular xamination of 19XO transactions and related documents such as purchase contracts would have caused him or her to note the item for subsequent follow-up to determine the final liability. In addition, the client's letter of representation might have mentioned the potential liability. The item would not require separate disclosure by footnot e or otherwise and would be handled by adjusting the financial statement accounts payable by the amount of the additional charge, $9,064 4. The CPA might learn of the agreement to purchase the treasurer's stock ownership through inquiries of management and legal counsel, examination of the minutes of the meetings of the board of directors and stockholders, and subsequent reading of the agreement. The absence of the treasurer might also arouse the CPA's curiosity.The details of the agreement would be disclosed in a footnote because the use of company cash for the repurchase of stock and the change in the amount of stock held by stockholders might have a heavy impact on subsequent years' financial statements. Usually a management change, such as the treasurer's resignation, does not require disclosure in the financial statements. The details underlying the separation (personal disagreements and divorce) should not be disclosed because they are personal matters. 5. Through inquiries of management, review of financial statements for January, scanning of transactions, and observations, the CPA would learn of the reduced sales and of the strike.Disclosure would not be made in the financial statements of these conditions because such disclosure might create doubt as to the reasons therefore and misleading inference might be drawn. 6. The contract with Mammoth Industries would come to the CPA's attention through inquiries of management and legal counsel, reading the minutes of the meetings of the board of directors and stockholders, and examination of the contract. All important details of the contract should be disclosed in a footnote because of the great effect upon the corporation's future. The factors contributing to the entry into the contract need not be disclosed in the statements; while they might be of interest to readers, hey are by no means essential to make the statements not misleading. 19-38. (Estimated time – 25 minutes) The omissions, ambiguitie s, and inappropriate statements and terminology in Brown's letter are as follows: †¢ The action that Consolidated intends to take concerning each suit (for example, to contest the matter vigorously, to seek an out-of-court settlement, or to appeal an adverse decision) is omitted. †¢ A description of the progress of each case to date is omitted. †¢ An evaluation of the likelihood of an unfavorable outcome of each case is omitted. †¢ An estimate, if one can be made, of the amount or range of potential loss of each case is omitted. The various other pending or threatened litigation on which Young was consulted is not identified and included. †¢ The unasserted claims and assessments probable of assertion that have a reasonable possibility of an unfavorable outcome are not identified. †¢ Consolidated's understanding of Young's responsibility to advise Consolidated concerning the disclosure of unasserted possible claims or assessments is omitted. †¢ Mate riality (or the limits of materiality) is not addressed. †¢ The reference to a limitation on Young's response due to confidentiality is inappropriate. †¢ Young is not requested to identify the nature of and reasons for any limited response. Young is not requested to include matters that existed after December 31, 1992, up to the date of Young's response. †¢ The date by which Young's response is needed is not indicated. †¢ The reference to Young's response possibly being quoted or referred to in the financial statements is inappropriate. †¢ Vague terminology such as â€Å"slight† and â€Å"some chance† is included where â€Å"remote† and â€Å"possible† are more appropriate. †¢ There is no inquiry about any unpaid or unbilled charges, services, or disbursements. |Research Questions | For the reasons specified in the introduction to this manual, solutions are not provided for this category of questions.

Great Depression1 essays

Great Depression1 essays Cut wages, growing unemployment, poverty, and suffering were unforgettable experiences during the Great Depression of the thirties. Many people learned to face these hard times with the help of famous sports figures. They gave hope and to many people pride in what they stood for to them. One of these great sports figures who helped Americans was boxer Joe Louis. In 1936 he fought the world champion Max Schmeling and had his first lose. Max Schmeling was a German boxer and the Nazis equated his victory over Joe Louis as a Nazi superiority over American democracy. Once again the two boxers, Joe Louis and Max Schmeling, fought in 1938 and this time Joe Louis won in the first round. This was an enormous lift for Americans. It was a victory for democracy. Joe Louis was also an inspiration to the African American people. He was a famous African American boxer and had beaten a German boxer who was as Hitler believed the perfect race. This gave the African Americans self-respect and pride in who they were. African Americans pointed with pride to athletes like Joe Louis, who was the world heavyweight boxing champion. (Cayton, Perry, Winkler, 764 ) Louis also went on to become a hero for the war effort and gave inspirational speeches. Jesse Owens great accomplishments on the track field made him one of the most famous in history. While on the Ohio State University track team in 1935 he set a world record in the broad jump (26 feet 8 1/4 ). In 1936 he set a new world record in the 100m. dash,(10.2 sec.). In 1936 as a member of the U.S. track team at the Olympic games in Berlin, Jesse Owens won four gold medals and set more new world records. This is an important moral buster to the American people, white and black, because once again it showed Nazis were not a superior race. An African American man had won four gold medals. This was humiliating and...

Top 12 High Paying Part-Time Jobs With Good Work-Life Balance

Top 12 High Paying Part-Time Jobs With Good Work-Life Balance Need some extra income? Or just need a job, period, and prefer to work part time? Keep in mind that not all part-time jobs are created equal. Some people find themselves earning next to nothing, while others find themselves in pretty lucrative high paying part-time jobs. Find one that pays well and gives you the flexibility and compensation you need. Make sure to match a job to your particular skill set and expertise- not to mention your interests! Here are 12 of the high paying part time jobs  out there, across a range of skills and fields.1. Child CareFrom casual babysitting for cash on the side to tutoring (independently or through a service) and working in a classroom or after-school program, there are always jobs taking care of children. You could even consider a job as a camp counselor.2. Senior CareDitto for senior citizens. If you enjoy working with the elderly, you could work in a senior center, a care facility, retirement home, or even doing in-home medical care. You coul d also work in transportation assistance.3. Health CareThere are always job openings out there in the health profession. Work in doctors’ offices, hospitals, patients’ homes. Be a nurse, technician, equipment salesperson, pharmaceutical sales rep†¦ the list goes on and on. The possibilities are endless.4. Computer Support/Web DesignPeople always need tech support or design help. These jobs are particularly good for part-time work. If you’re really good with computers and/or design, you can make quite a bit of money in this field, even on the side.5. Consultant/FreelancerDepending on your particular expertise and the field you’d want to work in, this is always a good part-time option. It’s particularly easy to get this kind of work if you’re a lawyer, medical professional, writer, or teacher. But the case can be made in nearly any field. You can customize this work around your particular strengths and schedule.6. Online TeachingWith more and more classes being taught online, this is a great opportunity to get a part-time job and teach- from home. You could arrange this through a college or university, if qualified, or start your own continuing education class in your city or town.7. Pet CareIf you love pets, consider dog walking, pet sitting, even pet grooming. Or look for part-time admin work at your local vet office. It never hurts to sweeten your pitch by getting a bit of training in animal behavior or pet first aid as well. Bonus: if you do so, you can probably raise your rates!8. House SittingWork from home from someone else’s house! Stay in different places around your area (or the world) and make a bit of money whenever someone needs to leave town for a short (or long) trip.9. CateringIf you can work evenings and/or weekends, catering serving can be a great gig. It’s often taxing, very physical work, but you usually get a good hourly rate and the gigs are plentiful.10. Personal AssistingBe some one’s personal assistant, either locally or virtually. Check sites like Care.com for potential jobs. Run errands, tidy offices, etc.11. FitnessIf you have qualifications in yoga or personal training, you can make great money doing private sessions on the side. You’ll need first aid and CPR certification, but if you can build a solid client base, you’ll be looking at some great steady income.12. Call CentersEspecially if you’re willing to work overnight shifts, evenings, and weekends, when most call center employees would rather not schedule their shifts, you can get hired to offer customer support, account management, or telemarketing. Usually only requires a high school diploma.Bottom line: pick something you’d be good at, that complements your skills and experience, and that fits with your schedule needs, and you can’t go wrong.

Analysing Biopower And Agency Linked To Euthanasia Philosophy Essay

Analysing Biopower And Agency Linked To Euthanasia Philosophy Essay Human life can be perceived as a way of being that ensures autonomy upon the physical body. However, state authority, surveillance and law are moderating this individual freedom and moral decision-making. Nowadays, euthanasia remains a highly controversial and sensitive medical and ethical issue. My research and final thesis for the master will focus on the narratives of people, residing in houses for the elderly in Antwerp, Belgium. Emphasis is placed on whether upcoming media interest in euthanasia influences elderly thoughts and decision making regarding assisted suicide. Wishes about end-of-life decisions, opinions of relatives and law interpretations of medical practitioners are being investigated in this study. And finally the way government’s authority influences people’s agency in end-of-life decision making. With this paper, I intend to widen my knowledge of two main anthropological topics linked to the subject of euthanasia, namely biopower and agency. Biopol itics concern the political implications of social and biological facts and phenomena, with political choice and action directly afflicting all aspects of human life. Agency, on the other hand, can be seen as an alternative attempt to maintain autonomy in one’s own life and death, under the influence of the state’s disciplining interference. Both forms of power are studied in this paper, and their interrelationship is critically viewed. Keywords: Biopolitics, Agency, Power, Health, Ethics 2. The history of biopower In Foucault’s The Birth of Biopolitics (Lectures at the College de France, 1978-1979), an analysis of liberalism and neoliberalism as forms of biopolitics is presented. According to Foucault, biopower can be perceived as a technology of power, intending to manage individuals as a group. This political technology differentiates because of its ability to control populations as a whole, and is thus essential to the development of modern capitalism (Fouca ult, 2008). This shift from the managing and micro-controlling of individuals to disciplining a population emerged in the eighteenth-century. Even though this seems as an opportunity to gain more natural rights and liberty for individuals, this liberal government no longer limits state power because of the incompatible tension between freedom and security (Foucault, 2008, McSweeney, 2010). As Foucault argued, liberalism concerns the biopolitical. For liberalism promotes an imagined self-governing of life through a certain capture and disciplining of natural forces of aggression and desire within the framework of a cultural game, governed by civil conventions and instituted laws (Foucault, 2004). In this conception, ‘life is as much of a cultural construct as is law, although the naturalness of life, thought of as innately self-regulating, is always insinuated. Both in economics and in politics, liberalism rejoice in an order that is supposed to emerge naturally from the clash of passions themselves (Milbank, 2008: 2).’ Rabinow and Rose seek to enlighten the developments in Foucault’s concept of biopower, which ‘serves to bring into view a field comprised of more or less rationalized attempts to intervene upon the vital characteristics of human existence (Rabinow, 2006: 196-197).’ Foucault distinguishes two poles of biopower: the first one focuses on an anatomo-politics of the human body, seeking to maximize its forces and integrate it into efficient systems. The second pole entails biopolitics of the population, focusing on the species body, the body imbued with the mechanisms of life: birth, morbidity, mortality and longevity (Rose, 2007: 53). Thus, according to Rabinow and Rose, ‘we can use the term ‘biopolitics’ to embrace all the specific strategies and contestations over problematizations of collective human vitality, morbidity and mortality; over the forms of knowledge, regimes of authority and practice s of intervention that are desirable, legitimate and efficacious (Rabinow, 2006: 197).’

Explain why you believe you should be accepted into the MAB graduate Personal Statement

Explain why you believe you should be accepted into the MAB graduate program in UGA - Personal Statement Example ecause of the role it plays in sustaining human life and, therefore, finding a long lasting solution to this problem will go a long way in making the human life sustainable. As a youngster, I realized that I dedicated much of my time to agriculture especially, crop production since my high school and undergraduate level and thus, I wish to take it a notch higher and pursue my MAB at your prestigious university. By undertaking MAB program, I believe I will go a long way in realizing my childhood dreams as well as the intimate passion I have for this program. In addition, the University of Georgia has everything that am looking for in pursuing the MAB program. This appealing program consists of components such as management, agribusiness marketing, and finance, which are requisites that can help me realize my long-term dreams. The components are vital in perfecting my practical experience and research skills. Apart from my mindset in crop production, I have a special interest in business and, therefore, the combination of the two i.e. agriculture and business will help me in realizing my dreams. Additionally, I believe MAB program will equip me with multivariate skills not only in agriculture field, but also in business. Production of crops in large scale is a vital to eliminating food shortage but producing the crops at a lower price is the greatest achievement that the world is striving to achieve. Therefore, I see MAB program as the key to finding solutions to these problems. I have learnt about agri-business especially the area of crop production during my childhood days. Additionally, I strongly believe that the program will facilitate both my long term and short term career aspirations. If given the opportunity to undertake this program, I believe that my strong motivation and aspiration in this field will not only benefit me but the world at large. The experience and skills I will learn from MAB program, will present me with the opportunity to be able to

Evaluation Essay Example | Topics and Well Written Essays - 250 words - 5

Evaluation - Essay Example It does not disappoint in terms of its usability and mobility. Once a user is on the homepage, everything is well illustrated to direct him or her to the next step. Grammarly.com places much emphasis as to why it is the world’s best grammar checker. It goes ahead to outline ten reasons why its users will love it. It also employs the inverted pyramid principle of relaying information. The site emphasizes on correcting grammatical errors as its main service, then continues to outline at the bottom that it is also a plagiarism checker. Such an organized layout ensures that the homepage captures the important information to convince its users as to why they should proceed to use it. The site achieves a convincing value-proposition from the layout and inverted pyramid structure of information. The site also recognizes the value of social media as a platform for online exposure. It is integrated with Twitter (38,000 followers), Facebook (3 million likes) and Google (1.7 million). The website covers all the aspects of a good web design. In addition, the homepage includes some of the users’ testimonials. New users would be convinced to use the services offered when they get to read the feedback of previous users. However, the website has some few negative aspects. Firstly, the homepage has lots of information that the users might not get to read all of it. Secondly, the website is too simple; that is, it has concentrated too much on the ‘Keep It Simple Stupid’ impression. It has limited its target group to students only, locking out the corporate

History Discussion Research Paper Example | Topics and Well Written Essays - 500 words - 6

History Discussion - Research Paper Example The passage of Missouri compromise was very important in that it was the first attempt to get a solution to the matter concerning slavery. But, it is also significant to note that it did not remove the underlying problems. There still existed free and slave States and the divisions over slavery would take years and bloody outbreak of civil war to resolve the issue. The Missouri Compromise in 1820 was engineered to allow Missouri to become a slave State while Maine on the other side a Free State. In this manner, the number of Slave and Free States in America would in turn become equal leading to a balanced share of power in Congress without any State or region benefiting at the expense of the other. The most significant aspect of the Missouri compromise was that there was an agreement that no State or territory to the North of Missouri Southern Border could accept to enter the Union as State that accepted slavery (Burgan 44). This part of compromise eventually stopped slavery from spreading to the rest of Louisiana Purchase. The Northern States strongly opposed slavery while the Southern States were in favor of it. Expansion of slavery in the U.S would imply that there would be an increase in territorial population and space. This at the end would mean that the Southern States had more power or increased power in the House. In addition, the Southern States had less black population as compared to the Northern States. The U.S House had three fifth of black population while the rest was white population. Therefore, approval of Missouri as a slave Sate would imply that there would be increased Southern representation in the House thus making the Northern States insecure. In addition, the Missouri compromise of 1820 made the congress to reach a compromise over slavery issue in that it reached its first compromise on how to regulate slavery in new States and Territories. While the

Forensics- Narcotic Drugs Research Paper Example | Topics and Well Written Essays - 1000 words

Forensics- Narcotic Drugs - Research Paper Example In addition, the paper will examine the process of presentation of exhibit in a law court, especially in cases that involve drug abuse. Further, the paper will analyze the use of evidence to facilitate prosecution or acquittal of individuals with criminal charges. The detection of drug abuse in body fluids, blood, tissues, and corpses is a common procedure done in forensic laboratories. Agencies that perform forensic examination of evidences in law enforcement include the FBI, the NIDA, and the DEA and Justice departments (Lowney, 1994). These agencies control, regulate and classify drugs that are commonly abused and investigate cases that relate to drug abuse. Narcotics are drugs that occur naturally in poppy seeds or opioid substances that are semi-synthetic; the medical purpose of these drugs is to relieve pain in patients  suffering from terminal ailments like cancer (Lowney, 1994). The concept narcotic means a state of sluggishness or lethargy and these drugs are significantly essential in the medical field when used as per the physician’s directions. However, these drugs may find their way into the black market where they mix with a wide range of drugs, which could be poisonous (Lowney, 1994). The ills associated with drug use make the concept of narcotics lose social acceptability. As a result, the legislature has criminalized the use of narcotic drugs. Drug users experience confrontations from various laws and law enforcement agencies, which strive to stop the use of drugs and avoid the criminal cases associated with drugs use and abuse (Brickey, 1995). Drugs and crime share an intimate relationship, as most criminals are drug dealers while others use drugs for courage that helps to commit crimes comfortably. Drug addicts can kill people and rob them off their money to buy drugs. Therefore, crime results from drugs and crime causes drugs use while both crime and drugs have strong connections to social forces. Drugs are classified into three

The Ancient Art Analysis Essay Example | Topics and Well Written Essays - 500 words

The Ancient Art Analysis - Essay Example The Indra and Surya are engravings as depicted in this picture. Nonetheless, the two sculptures are a depiction of the final existence and the past lives the Buddhism founder, Siddhartha Gautama. The size of the sculptures is also similar as it ranges from 50 to 200 feet in height. The four-ram Fangzum is a bronze cast sculpture while the Reliquary Buddhist Stupa is cast in gold. The two sculptures have a great significance in the culture of the Chinese and the Indians respectively. These two sculptures depict the respect given to the dead, and especially to sages and religious teachers. However, there is a great difference in the age of their molding with the four-ram fan zun cast in the second Millennium BCE, during the era of the Shang dynasty with the Reliquary Buddhist Stupa cast in the 3rd century CE, which was during the Kushan dynasty. The two sculptures are also a symbol of commemorating significant occurrences in the Chinese and Indian religion. Hence, their main subject or significance is more of spiritual beliefs than political. Their complexity and evident in the way that the bronze is carved into the four-ram Fangzum and the way the pillars erect the Reliquary Buddhist Stupa. This artistic feature is a clear evidence of the prowess and the passion of Chinese and Ancient Indian sculptures of the time. The sculptures also have a gloss finish that clearly distinguishes them from the past sculptures that had a dull finish. The bowl is red and made of earth. The bowl also has designs  of a human head that are  black  in  color  and  imposing  fish designs. The bowl was made for worshiping the ancestors in Ancient China during the Neolithic Period, which was crucial in the Chinese history. Despite the non-development of the potter’s wheel during the time of making the bowl, the bowl is perfectly round with highly polished surfaces. In

History Discussion Research Paper Example | Topics and Well Written Essays - 500 words - 6

History Discussion - Research Paper Example The passage of Missouri compromise was very important in that it was the first attempt to get a solution to the matter concerning slavery. But, it is also significant to note that it did not remove the underlying problems. There still existed free and slave States and the divisions over slavery would take years and bloody outbreak of civil war to resolve the issue. The Missouri Compromise in 1820 was engineered to allow Missouri to become a slave State while Maine on the other side a Free State. In this manner, the number of Slave and Free States in America would in turn become equal leading to a balanced share of power in Congress without any State or region benefiting at the expense of the other. The most significant aspect of the Missouri compromise was that there was an agreement that no State or territory to the North of Missouri Southern Border could accept to enter the Union as State that accepted slavery (Burgan 44). This part of compromise eventually stopped slavery from spreading to the rest of Louisiana Purchase. The Northern States strongly opposed slavery while the Southern States were in favor of it. Expansion of slavery in the U.S would imply that there would be an increase in territorial population and space. This at the end would mean that the Southern States had more power or increased power in the House. In addition, the Southern States had less black population as compared to the Northern States. The U.S House had three fifth of black population while the rest was white population. Therefore, approval of Missouri as a slave Sate would imply that there would be increased Southern representation in the House thus making the Northern States insecure. In addition, the Missouri compromise of 1820 made the congress to reach a compromise over slavery issue in that it reached its first compromise on how to regulate slavery in new States and Territories. While the

The Ancient Art Analysis Essay Example | Topics and Well Written Essays - 500 words

The Ancient Art Analysis - Essay Example The Indra and Surya are engravings as depicted in this picture. Nonetheless, the two sculptures are a depiction of the final existence and the past lives the Buddhism founder, Siddhartha Gautama. The size of the sculptures is also similar as it ranges from 50 to 200 feet in height. The four-ram Fangzum is a bronze cast sculpture while the Reliquary Buddhist Stupa is cast in gold. The two sculptures have a great significance in the culture of the Chinese and the Indians respectively. These two sculptures depict the respect given to the dead, and especially to sages and religious teachers. However, there is a great difference in the age of their molding with the four-ram fan zun cast in the second Millennium BCE, during the era of the Shang dynasty with the Reliquary Buddhist Stupa cast in the 3rd century CE, which was during the Kushan dynasty. The two sculptures are also a symbol of commemorating significant occurrences in the Chinese and Indian religion. Hence, their main subject or significance is more of spiritual beliefs than political. Their complexity and evident in the way that the bronze is carved into the four-ram Fangzum and the way the pillars erect the Reliquary Buddhist Stupa. This artistic feature is a clear evidence of the prowess and the passion of Chinese and Ancient Indian sculptures of the time. The sculptures also have a gloss finish that clearly distinguishes them from the past sculptures that had a dull finish. The bowl is red and made of earth. The bowl also has designs  of a human head that are  black  in  color  and  imposing  fish designs. The bowl was made for worshiping the ancestors in Ancient China during the Neolithic Period, which was crucial in the Chinese history. Despite the non-development of the potter’s wheel during the time of making the bowl, the bowl is perfectly round with highly polished surfaces. In

Influence of Optimist and Pessimist for Success Essay Example for Free

Influence of Optimist and Pessimist for Success Essay For example, an optimist will look at a sunset and think, â€Å"Look how beautiful nature is, thank god, life is a wonderful present,† where a pessimist will look at the same one and think, â€Å"The sunset means another day of life passed over and I have one day closer to death. † It is just like an optimist seeing a half-water filled bottle as half full when the pessimist sees half empty. Scientists believe that people with an optimistic attitude towards life can be more successful than pessimists. It is no doubt about that, but people need pessimistic thinking to triumph. Despite everyone knowing optimists are more likely successful, too much optimism or over confidence will lead to negative consequences, even disaster. For example, in ancient times there were three most undoubtedly powerful and prosperous dynasties: Ancient China, Ancient Babylon and Ancient Egypt. Once Ancient China ruled the world. Over a period of 5,000 years the Chinese people developed a unique, self-contained and self-centered society at the extreme eastern end of the Eurasian landmass. The Chinese complacently thought that they did not want what modern science offered—greater technology, power over the natural world, and an improved standard of living. Unlike Westerners, the over-optimistic Chinese felt no need to develop modern science to conquer the natural world. Eventually, as a consequence, Chinese people had been suffering from catastrophic warfare for more than hundreds of years, and there had been not less than one hundred million dead. The only reason why it happened was just because of an unintelligent decision that secluded China from the outside world made by an over-confident and over-optimistic empire. A perfect piece of art or invention, as I have observed, cannot be made simply by those are without pessimistic thinking or critical thinking. Steve Jobs (February 24, 1955-October 5, 2011) was a co-founder, chairman and CEO of Apple Inc. He had such an active professional life that it would not be easy to list all his incredible achievements in one article, but many people knew he had been a over-optimistic loser when the Apple III model came to the public. Jobs thought everything would be going well as he wanted, but truthfully it was not. The over optimism got him fired from the Apple company for eleven years before he finally returned to the Apple company that he established. After that, Jobs became a revolutionary inventor of the digital world. He made legends; he amazingly changed the world. What made Jobs success was that he turned from an optimist to a critical thinker during a low tide of his life. He no longer thought what he invented was perfection and began to criticize his work thousands of times before publishing. Having pessimistic think or called critical thinking makes it possible for people to be as successful as Jobs. However, the information above does not imply that it is wrong for us to be optimists. Optimists succeed more easily in all areas of life. Recent studies show that optimists excel in school, have a better love life, make more money, have better health and live longer. Optimists also do better in the face of stress. Even though optimists bite off more than they can chew, they still end up healthier and happier than pessimists. So the answer of which perspective is correct is neither. What is really important is not which way of thinking is correct but which is more beneficial. You can make a case for each side of the situation. Information about China history from I have learned in history class Information about Steve Jobs from Youtube Steve Jobs speeches The following list from http://www. centreforconfidence. co. uk/pp/overview. php? p=c2lkPTQmdGlkPTAmaWQ9NTY= The benefits of being optimistic include: * Better health * Longer life A happier life * Less stress and anxiety * Successful careers * Better educational qualifications * Better relationships * Better at problem-solving * More resilient in the face of adversity * Cope better with failure The costs of being pessimistic include: * Depression * Dying younger * Inertia in the face of adversity * Having a lower immune system * Suffering increased ill-health, both physical and mental * Not performing well at work * Failure when faced with crucial situa tions * Poorer relationships Even when things turn out badly, pessimists don’t feel good about making the * More fun and worthwhile. People’s Attitude towards Life Outline Thesis: It is no doubt that optimists are more likely to succeed, but success cannot be without pessimists. Opinion 1: the overoptimistic attitude will lead negative consequence. For example ancient China Opinion 2: the pessimistic thinking or called critical thinking can help you succeed. For example Steve Jobs Conclusion: we cannot totally deny the benefit brought by optimistic attitude.