ADDICTION COUNSELLING DILEMMAS

 

 

 

 

ADDICTION COUNSELLING DILEMMAS

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Introduction

Dilemmas plus emotional conflicts are native to the condition of humans and to life itself. The relationship between professionals (like physicians, counselors, and therapists) and those that they are serving have always been viewed as having particular importance and meaning. In all cases, there is a difference of power, and the person with lesser power assumes that the professional will act in their best interest (American Counseling Association, 2014). Unfortunately, in most cases, this has been found to be untrue. Majority of the dilemmas faced by addiction counselors revolve around ethical issues.

Ethical Principles

The NAADAC Code of Ethics stipulates that professional alcoholism & drug abuse counselors need to adhere and comply with the ethical principles of autonomy, beneficence and justice (National Association of Alcoholism and Drug Abuse Counselors, 2011).

Confidentiality

Confidentiality between a counselor and the patient is vital towards the success of the counseling relationship. The patient’s beliefs regarding confidentially shall determine the degree & the type of the information revealed during the counseling session.  Addiction counselors are mostly faced with unique ethical circumstances regarding confidentiality because the identified client is usually more than one person. The alcoholism and drug abuse counselor are required to embrace the duty of safeguarding the privacy of the patient and should not disclose confidential information acquired, in teaching, practice, or investigation. However, the counselors are faced with the dilemma of whether to reveal or not to reveal certain information to 3rd parties when there is clear and imminent danger in the life on the patient. A case in point is when the patient is taken to court.

Non-Discrimination

The alcoholism and drug abuse counselors are required by their professional code of conduct not to discriminate their patients based on their ethnicity, religion, gender, or economic condition. However, there are those professionals who are unable to act professionally. This especially applies to those counselors who have a negative perception towards drug addicts. As a result of this, they may be forced to decline to offer their services to such kind of patients.

Informed Consent

Informed consent is another important ethical dilemma facing drug addicts’ counselors. Counselors are required to seek the consent of the patient before releasing their information to 3rd parties. Informed consent & confidentiality complement each other. However, there are those instances whereby the consent of the patient is not sought after and which go against the ethics or the principle of Informed Consent plus it violates the rights of the patient (Scott, 2010). A case in point when a counselor is asked to appear before the court to give their verdict or provide information regarding the health status of the patient. Such a situation brings about a dilemma to the work of the counselor.

Relationships

The alcoholism and drug abuse counselor are not required to enter into a professional relationship with their patients since by doing so; they may be jeopardized by the dual relationship plus it is unprofessional. The dilemma faced by the counselor is that being humans with feelings, they might be tempted or forced to start relationships with their patients. During the counseling session, the patient reveals a lot of private information to the counselor, and it is from this that they begin to know the patient better .In such a situation the counselor may find it hard not to become friends with the patient and which slowly grows into a relationship.

References

American Counseling Association. (2014). ACA code of ethics. Retrieved from

http://www.counseling.org/resources/aca-code-of-ethics.pdf

National Association of Alcoholism and Drug Abuse Counselors. (2011). Ethical standards:

    Specific principles. Retrieved from                 http://www.naadac.org/assets/1959/naadac_code_of_ethics_brochure.pdf

Scott, C. G. (2010). Ethical issues in addiction counseling. Rehabilitation Counseling

Bulletin, 43(4), 209-214. Doi: 10.1177/003435520004300405

 

 

 

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AUDITING

 

 

 

 

 

 

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Response to Question 1:

Audit Committees that are most efficient are very much informed with respect to their responsibilities, comprehends them, integrates them, and identify what is essential to effectively fulfill them. The audit committee’s work keeps developing in light to the business’ leading practices and environment changes. Efficient corporate governance relies on collaborative and active participation of it entire major stakeholders namely the management, internal auditors, independent external auditors, director’s board and the audit committee. Making sure that the aforementioned collaboration happens efficiently, effectively and economically is important to the success of the audit committee. The responsibilities of auditing communities vary in different organizations owing to their mandate as sanctioned by the director’s board. However, the auditing committee’s main responsibilities are basically similar. The main responsibilities of the audit committee are discussed below (KPMG 2009).

Overseeing the financial risk‘s process of a company

A significant role is played by the audit committee in maintaining the financial integrity of a company. Members of the audit committee have to fully understand and embrace critical awareness over their oversight duties. The way the responsibilities are conducted may differ, nevertheless the board, shareholders and the audit committee could have consequences for failing to handle them. Risk management incorporates risk identification that could hinder companies from realizing their goals. Risk management also involves risk analysis, avoidance of particular risks and controlling the remaining risks. The director’s board is eventually in charge of the systems for risk management and evaluation of its efficiency. The responsibility of monitoring, management, assessment and identification of risks, and monitoring, operating and developing internal control systems, and furnishing the board with assurance belongs to the management of the company (KPMG 2009).

The risk management and identification process of a company incorporates management and identification of a company’s financial risks that could negatively impact on the financial reporting of a company. The audit committee considers this matter to be of fundamental importance. Not only do audit committees oversee risks affecting the financial reporting of a company directly, but a at times the board also directs them to scrutinize the level of overall management of risks, suitability of the strategy of risk management, adopted processes to handle these duties and  the effectiveness and adequacy the process’ support system integrated by a  company’s management. Based on KPMG (2009), this is achieved by the audit committee via asking the management probing questions to assist in bringing clarity to the risk management process employed and responsibilities’ assignment to react and monitor a company’s risk profile changes.

Internal Control Oversight

It is the duty of the auditing committee to oversee the process of financial reporting including the process’ controls and risks. On the other hand. Internal control integrates financial reporting, operational and regulations compliance controls. Generally, the duty of a company’s controls and overall risks lies with the board thus the audit committee can be mandated by the board to take oversight responsibility in ensuring adequate operational controls and regulations and laws compliance. As noted in the UK’s Smith Report, broader aspects of risk management and internal control systems should only be reviewed by the audit committee unless expressly decreed by the risk committee consisting of independent directors or the board. In addition, if decreed by the board or the risk committee, the audit committee could examine or approve all statements incorporated in a company’s annual report with respect to internal control and risk management (KPMG 2009).

Implementation and the designing of an efficient internal control system is the responsibility of the management. It is the duty of the auditing committee to determine the policies implemented by the management are capable of identifying financial reporting risks and the availability, proper functioning and adequacy of controls. During assessment, it is important that the audit committee considers asking the company’s management for risks’ overview, controls, procedures and policies surrounding financial reporting integrity. Representations furnished to them by the management should be supplemented with assurance and further information from the external and internal auditors by the audit committee (KPMG 2009).

The senior management’s and the board’s attitude and integrity together with its committees’ (management’s ‘tone at the top’) is the utmost fundamental factor amounting to the internal controls integrity together with factors surrounding the process of financial reporting.  The tone constitutes a company’s cultural core and every level’s appropriate conduct model. Therefore, it is the duty of the auditing committee to evaluate annually whether the proper tone is set, documented and communicated by the management. In conducting this review, the audit committee needs to consider asking the relevant employees and the management briefings and updates on how ethical policies compliance and particular relevant procedures of the company is being realized (KPMG 2009).

Financial reporting oversight

Monitoring formal announcements regarding the final performance of the company before they are released and financial statements’ integrity is the auditing committee’s duty. To facilitate this review, the committee needs to ascertain its member’s awareness of disclosure issues and accounting policy, and that they acquire this information in time to facilitate requisite action to be undertaken as required. In addition, the committee needs to find out from auditors and the management concerning recommended disclosure changes and auditing adjustments either made by the company’s management or not, unusual transactions, the company’s accounting principles, key accounting principles embraced by the company’s management and accounting estimates and provisions incorporated in the company’s financial statements. A comprehensive understanding of the aforesaid factors is essential to the ability of the audit committee to realize its oversight duties. Finally, it is prudent that that audit committees concentrate on present issues and those emerging and act accordingly.

Response to Question 2:

The responsibilities of the management for financial statements related matters and comprehensive consideration of particular matters is highlighted via signing a representation letter. However, in certain circumstances, a company’s management may consider that they are incapable of signing a representation letter on particular or every matter addressed. These circumstances could further outline areas where the auditor’s or the management’s extra effort could be necessary. According to ISA 580 written representations supersedes oral representation  and can be in the form of management’s representation letter, auditor’s letter illustrating his comprehension of representations from management duly approved and acknowledged by management, relevant  minutes of board or directors  meetings, or an executed copy of a company’s financial statement. From the above argument, it is apparent that there isn’t conclusive evidence allowing options requiring a written representation letter from the management.

According to ISA 580, when a company’s management declines to furnish relevant representations, the auditor is required to disclaim or qualify his opinion. The management’s refusal to furnish written representations infers the unwillingness of the management to accept accountability and responsibility for the company’s financial statements. Therefore, there is a great probability that an auditor would not arrive at conclusions without a management’s signed representation letter. However, an auditor could be able to form inferences as to the fairness and accuracy via referring to alternative sources especially in circumstances where controversial judgement were slim, but could not be established. Refusal by a company’s management to sign a representation letter might imply the existence of tension between the management’s and auditor’s working relationship or r challenges in a company that the management is attempting to hide.  An auditor can thus proceed in the following manner.

To start with, an auditor has a right to access the vouchers, accounts and books of a company at all times and the right to request a company’s officer for explanations or information of such nature considered to be essential in performance of his responsibilities as an auditor. The auditor can proceed by identifying relevant individuals responsible for governance that he can communicate to with respect to audit matters. As such, the auditor can acquire the flexibility required to determine individuals required to furnish particular representations and inform them that they are accountable and responsible for making particular financial statements. Further,  the auditor can employ ISA 580 section 16-20 in his actions which dictates that if in any way the auditor  has doubts with respect to the enforcement, commitment, diligence, ethic values, integrity and competence of the management  he shall establish the impact that  these doubts  may have on the audit evidence or on written  and oral representations generally. Particularly, if the management’s written representations are not in accordance with some of the audit evidence, the auditor is required to undertake audit procedures in order to find resolutions to the matter.  If the auditor fails to find resolutions on the matter, he needs to reconsider his assessment of the management’s diligence, ethical values, integrity, competence or of  the management’s commitment or implementation of  the aforementioned factors and establish the impact of these factors on  the audit evidence or presentations reliability generally. If an inference is arrived at by the auditor that  the management’s written representations are unreliable, the auditors is required to undertake requisite action including establishing the probable impact on the opinion in his report in line with ISA 705 whilst considering ISA 580’s paragraph 20 requirements.  Finally, the auditor can disclaim an opinion if not furnished with any written representations by the management or he comes to a conclusion that the management’s integrity is in doubt.

Response to Question 3a:

The following information sources will be relevant in acquiring a comprehensive understanding of Dust & Rolls Stores Co. These include

The Audit file for the previous year

Information with respect to issues that emerged during the previous year company audit and how the problems that emerged were resolved can be obtained from this file.  I can also determine the policies implemented by the management and their capability of identifying financial reporting risks and the availability, proper functioning and adequacy of controls. In addition, I cannot also assess whether the management of Dust & Rolls have adequate operational controls and have complied with regulations and laws. Information on significant Dust &Rolls agreements can also be acquired.

 

 

Discussions with management

By engaging in discussion with the management, I would be able to acquire information relating to any critical issues that have emerged or company changes that have occurred in the course of the year and representations of Dust and Roll’s management for risks’ overview, controls, procedures and policies surrounding financial reporting integrity.

Dust & Roll’s website, different companies’ websites and google

Information on Dust & Rolls with respect to changes that have occurred to the business in the sources of the year and background information of the company could assist me in identifying extra audit risks. In addition, I can also use google and different websites to acquire information with respect to external information that may affect Dust & Rolls Stores.co. Information relating to Dust & Roll’s competitors such as financial statements can also be acquired. This will facilitate the assessment of Dust & Roll’s performance during the year and whilst conducting a review on the going concern.

Current financial statements and budget

From this source, I can acquire relevant Dust & Rolls’ financial information for the present year. In addition, from this information source I shall be able to identify whether there is material changes in Dust & Rolls’ compared to the previous year. Finally, this information can be fundamental for preliminary risk identification and analytical review.

Financial statements and management reports of the previous year

Information relating to Dust & Rolls’ size, disclosure notes, accounting policies and accounting systems can be found in a company’s previous financial statements and management’s report. In addition, information of the past year’s deficiencies in the internal control systems can also be obtained from management report. This is of great importance since similar deficiencies could emerge during the present’s year audit.

Response to Question 3b

Audit risk 1

Dust & Rolls has spent $2·4 m on refurbishing 32 food supermarkets it owns. There is need to review this expenditure to evaluate whether it falls under Capital and ought to be listed as repair expenses or integrated in the non-current assets.

Audit Response

The auditor ought to review the breakdown costs and agree to Dust & Rolls’ invoice to evaluate the expenditures nature, and whether the capital agree to asset register’s inclusion, and whether the income statement and repairs agree. The auditor will also need to assess whether there was proper removal of the asset from the property equipment and plant to ascertain that there is no overstatement of the non-current register and profit obtained after disposals incorporated in the income statement. Furthermore, there is need to assess the register of non-current assets to confirm removal of the asset and recalculate the disposal profit and confirm the proceeds from disposals. Finally, the auditor would consider if the disposal profit is substantial enough to merit a separate disclosure in the company’s income statement.

Audit Risk 2

Dust &Rolls has borrowed the bank $1·6m through a loan repayable in five years. Therefore, there is need to properly categorize the loan between non-current and current liabilities. Moreover, the bank may have obtained a charge on one of Dust & Rolls assets as security till full payment of the loan. Accordingly, there exists a risk of lack of completeness in disclosure of security provided by Dust & Rolls.

Audit response

In the course of the audit, the auditor would want confirmation that the $1.6m loan finance from the bank was received by the company. Moreover, the division between non-current and current liabilities for the loan needs also be comprehensively reviewed to confirm whether the company gave out any assets as security. Finally, the auditor needs to ensure that the financing bank is circularized to ascertain that the bank indeed issued the loan of such amount to Dust & Rolls

Audit Risk 3

Dust &Rolls will be conducting several inventory counts simultaneous on 31 December which shall comprise the 32 supermarkets and the warehouse. It is impractical that the auditor would be able to attend the simultaneous counts. Therefore, it could be impossible to acquire adequate proper audit evidence with respect to the inventory counts.

Audit Response

The auditor and his team thus needs to select a particular sample among Dust & Rolls supermarket to visit. It is highly probable that most goods are contained in the warehouse and thus it should be prioritized in the selection. With respect to Dust & Rolls’ 32 supermarkets, the audit team should pay visits to supermarkets having a history of issues regarding inventory counts and supermarkets having material balances in their inventory.

Audit Risk 4

Dust & Rolls’ policy of inventory valuation is selling price less an average profit margin. FRS 2 dictates that inventory needs to be valued at Net Realizable Value (NRV) and at Lower of Cost (LCM). If this accounting rules is not followed, a company’s inventory could either be overvalued or undervalued.

Audit Response

FRS 2 inventories permit this as a method of inventory valuation provided that it is the closest estimation to cost. If this is deviated from, the inventory may possibly be over or undervalued. Testing needs to be carried out to ascertain inventory NRV and cost and that the goods are correctly valued line-by-line. Besides, valuation testing needs to be emphasized on comparing the selling price less margin and the inventory cost to ascertain if this method amounts to a close estimation to inventory cost.

Audit Risk 5

Since there has been a transfer of each of Dust & Roll’s 32 supermarkets opening balances into the accounting records of the head office, at the year’s beginning, there exist a risk that the above transfer  was not undertaken completely and accurately, thus it is likely that the opening balances could be incorrect. In addition the finance department has experience increase workload owing to the financial controller’s departure and his replacement is scheduled to report for duty late in December. Thus, the inherent risk of the company is increased signs errors might have occurred as a result of work overload by members of the finance team.

Audit response

The auditor needs to discuss with the management regarding the testing conducted and the data transfer process to ascertain the accuracy and completeness of the transfer. Computer-assisted techniques of auditing could be employed by the auditor in sample testing the data transfer from every supermarket to Dust & Roll’s head office so as to recognize existing errors. The audit team also needs to stay vigilant through the process of auditing for extra errors arising from the department of finance. In addition, it is important that the finance director is informed on the need to furnish the auditor with any help of particular audit issues until the arrival of the novel finance controller.

Response to Question 3c:

 

Before creating the department of internal audit (IA) in Dust & Rolls the finance director need to take the matters below under consideration:

  1. There would be considerable establishment costs of a novel IA department, thus before committing to the management time and establishment costs, thus, it is vital that a cost-benefit analysis be conducted.
  2. Dust & Rolls complexity and size needs to be taken under consideration. This is because there is increased necessity for establishment of IA department I a more diverse and complex company. Therefore, a company like Dust &Rolls with 32 supermarket will benefit greatly from an internal audit department.
  3. The IA department’s role needs to be given considerable consideration. The director of finance should envisage whether he requires the IA department to conduct reviews of internal controls or conducting the stores’ inventory counts.
  4. The role of the IA department having been determined, it is important that the finance director considers whether the exiting personnel in Dust & Rolls could perform these tasks.
  5. The present control environment of Dust & Rolls needs to be assessed by the finance director and determination should be made whether there are stores or departments with a past of control problems. If the answer is affirmative, there is increased need for IA department establishment.
  6. Finally, the directors of finance should assess Dust & Rolls susceptibility to fraud. Dust & Rolls operates 32 supermarkets, thus there is a considerable fraud risk of cash and inventory.

References

KPMG 2009, The Role of the Audit Committee. Available from: http://www.kpmg.com/RU/en/topics/Audit-Committee Institute/Publications/Documents/toolkit/1_The%20role%20of%20the%20audit%20committee_eng.pdf [1 November 2016]

 

Housing Inequalities in the Perspective of Social Policy and Criminology and Economics

Housing inequality is described as the dissimilarity between the housing qualities that different people in a society experience. These differences are brought about by housing segregation, housing discrimination, and poverty and housing markets. This discussion will base housing inequality on two factors; social policy and criminology, and economics.

 

Social Policy and Criminology

The housing crisis in terms of the social policy stems from the failure of the respective governing body to provide adequate, stable, decent and secure housing for its citizens. For instance, in the UK every individual has a right to all mentioned factors regarding their housing, but the government has not facilitated implementation of these rights efficiently. This phenomenon has led to housing inequality and crisis that is characterised by a lack of housing security, evictions, housing shortages, and homelessness (Marcuse et al., 2016). Statistically, housing formation is occurring at a rate that doubles the rate of houses being built in the UK; which makes it difficult to reach the demand of housing.

In Britain, housing is categorised according to tenure; which includes local authority housing, owner-occupation, registered social landlord and the private rented housing. At the beginning of the previous century, the tenure has greatly changed, the rate of owner occupation grew from 10% to 67%, but this has recently dropped to 63%. There was a decrease in private renting from 90% to approximately 7% but recently has risen to 18% (English Housing Survey Team, 2015). The large social housing sector saw a growth of about 33%, but it has also dropped to 18%. Individuals characterised with low incomes occupy the social rented housing; since the average income of housing association tenants slightly exceeds the quarter of those buying houses through mortgages.

This growth of owner-occupation can be attributed to a history of tax advantages and stable finance between the 1960s and 1990s (English Housing Survey Team, 2015). This group of owner-occupiers are categorised into two main groups: older people who out-rightly own heir house, who have completed paying off their mortgages and are earn low incomes. The other group includes those who are on higher incomes and invest in the housing through taking more mortgages. Recently, low-income home ownership has become an essential aspect: Policies are now promoting ownership of houses by low-income earners since the individuals generating high-income were already buying their houses. Due to this development, several issues have arisen, for instance; financial drawbacks especially in cases where the finances are not stable, structural issues with the houses, market inflations and other legal problems.

Social housing

Housing policy in the UK changed after 1970 when the Conservatives eliminated their political support for council housing. In the next years, the council gained more residual responsibility, where it was concerned, and still is, with special needs and welfare issues (Hodkinson and Robbins, 2013). General subsidies have been removed and replaced with Housing Benefit. This policy that led to reducing the roles of council housing led to the mass transfers of stock to Registered Social Landlords.

Private rented housing

This sector mostly includes student accommodation, the government subsidies (Housing Benefits) and delayed sales of the houses by the owners. Short term letting of houses, such as holiday lets, is also included in this sector. The increase in private rented housing can be attributed to the rental demand for the people who cannot afford to purchase houses.

Problem estates

This regards the people living in poverty, where some of the problems they face cannot be experienced by rich people. Most of these problems are not individual, in the fact that, a person does not experience these problems because they are poor but because they live in an area surrounded by poverty (Spicker, 1987). These problems include accumulation of rubbish, as well as the high cost of removing it, vandalism due to the inadequate space required for play, high costs of home maintenance, a low quality design of houses and blocks (Spicker, 1987). The lack of community facilities and empty housing due to the unattractiveness of the area. These issues are not comm0n in high-income neighbourhoods.

Inner cities and Urban Deprivation

Most housing conditions in numerous cities can be described as unsatisfactory; such that houses found in inner cities are in poor condition and are old. Many policies in these areas have been focused on deprivation. However, there is criticism existing that states that the ethnic minority groups do not get their share of the resources allocated by such policies

 

 

Economics

Housing inequality and policy can be discussed in economic terms as a type of market. In economic terms, the housing market is present to accomplish the supply of housing facilities and match it with the level of demand (Glossop, 2008). Housing inequality, in this case, is brought about by a shortage of housing. In Europe and the UK, this statement may sound absurd due to the high surplus of houses. However, the fact is that housing has to be fit to live in, it has to be available, and the number of households is dependent on the quantity of dwellings. Due to the latter discussion, good housing is in low supply, which renders it costly. Since housing is dependent on this market, individuals with the last resources are bound to experience challenges in housing, hence, living in unfit accommodation and overcrowding. According to statistics, 17.3% of the population in Europe, which is approximately one person among six, live in overcrowded areas (Eurostat Statistics, 2015).

Homelessness is another issue surrounding housing inequality, which is attributed to four main factors. They include a shortage of housing, entitlement to land and development of squatters, entitlement to housing and the existence of homeless persons due to factors such as alcoholism, illnesses and unemployment.

Deprivation in most cases is concentrated, and slum estates develop in the public and private sectors. In the private sector, poor individuals concentrate together while those with a choice are taken to areas they least chose. In the public sector, where each individual is allowed to choose, only those with high incomes of better previous housing are allowed choice. They are also allowed to wait for better housing options.

 

One of the major similarities in housing inequality is a result of high income and low-income differences. In the social policy aspect, those with high income are able to purchase houses of their choice, as well as live in attractive areas with numerous housing facilities. On the other hand, low-income earners are trapped in low-income areas and cannot afford to buy houses. In these areas, they experience numerous challenges including the high cost of living and increased risks to various negative activities.

In the economic aspect, high-income earners are able to afford high-end and good housing, while low-income earners are forced into overcrowded areas due to the lack of decent housing and shortage of housing facilities.

There are several differences regarding housing inequality in terms of social policy and economic aspect. For instance, in the economic sector, housing is regarded as a market while in the social account it is regarded as a basic need. For this reason, housing inequalities stem from different sources. In the social policy account, housing inequality may stem from the age of an individual, the level of education, the nature of their career as well as their welfare. These factors may dictate the policies that cover them, the areas to lie while they are studying or even travelling. In addition, the Housing Benefits that they receive may be based on their welfare.

In the economic sense, housing inequalities stem from the shortages of good housing. With individuals who can afford good housing purchasing or renting better housing facilities. Those with low income suffer the housing shortages and good facilities, rendering them to overcrowded areas. The level of income among this group also dictate the resources and incentives they are allowed compared to those lower than them in terms of economic endowment.

 

 

 

References

English Housing Survey Team, (2015). English Housing Survey: HOUSEHOLDS Annual report on England’s households, 2013-14. English Housing Survey Households. [online] London: Department for Communities and Local Government. Available at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/461439/EHS_Households_2013-14.pdf [Accessed 19 Dec. 2016].

Eurostat Statistics, (2015). Housing statistics – Statistics Explained. [online] Ec.europa.eu. Available at: http://ec.europa.eu/eurostat/statistics-explained/index.php/Housing_statistics [Accessed 19 Dec. 2016].

Glossop, C. (2008). Housing and economic development: Moving forward together. Housing Corporation. [online] Available at: http://www.centreforcities.org/wp-content/uploads/2014/09/08-11-06-Housing-and-economic-development.pdf.

Hodkinson, S. and Robbins, G. (2013). The Return of Class War Conservatism? Housing under the UK Coalition Government. Critical Social Policy, [online] 33(1). Available at: http://eprints.whiterose.ac.uk/74333/2/Hodkinson-Robbins_CSP_2013.pdf [Accessed 19 Dec. 2016].

Marcuse, D., Karp, M., Kilpatrick, C., Aschoff, N. and Ackerman, S. (2016). The Permanent Crisis of Housing | Jacobin. [online] Jacobinmag.com. Available at: https://www.jacobinmag.com/2016/10/housing-crisis-rent-landlords-homeless-affordability/ [Accessed 19 Dec. 2016].

Spicker, P. (1987). Poverty and depressed estates: A critique ofUtopia on trial. Housing Studies, 2(4), pp.283-292.

 

Medicine and Health: Using cord blood in medical industry in the past 20 years

Hematopoietic cells can be defined as primitive cells that have the ability to disintegrate and further develop into a wide range of particular forms of cells. Due to this capability of the same cells, these same stem cells have been used for standard treatment in the present for a variety of immune and auto immune diseases which is evident from the very first introduction of chemotherapy in 1959. The Bone marrow cells are the main source for these stem cells for a number of years now. Treatment in the use of BM, hematopoietic stem cell is made possible from a direct harvest from the bone marrow of a donor before transplanting to the patient or from cryopreserved birth.

In the mid-70s, Knudtzon detected relatively mature hematopoietic progenitor’s cells in the cord blood of human. At birth placenta and umbilical cord both are opulence with hematopoietic stem cells, although the potency of human cord blood (CB) in clinical setting, was not deep until 1989, the first cord blood transplantation (CBT). The first reports for the (CB) procedure revealed the collection of cord blood as a trans-section of doubly ligated umbilical cord during (pending) labor in third stage following the baby’s birth, then suiting and dropping blood from the sectioned umbilical vein into a graduated glass beaker or bottle which contains sodium citrate anticoagulant. However, this technique has been substituted with a more contemporary way where venipuncture and (CB) placed into an integral plastic blood collection bag. There have been two approaches in the (CB) timing of collection, the most considered and used frequently is in the third stage of labor via venipuncture while the placenta is still in the uterus (Sullivan, 2008). To avoid interference with the conduction of birth, the umbilical vein bleeds in the ligated cord attached to the delivered placenta by gravity into a transfusion blood bag as an alternative technique. Though, this technique does not possess the risk of blood clotting in the vein, especially when the cord blood has been previously clamped or otherwise traumatized (Hayani, et al, 2007). On the other hand, this method may lead to lower volume and hence lower nucleated cell (TNC) in the cord blood (CB) collection comparing to the first method. The position of the newborn baby prorated to the mother, after the birth and the infant conserving the cord blood affects the volume of the blood that could be stored. If the newborn is placed at the same level as the mother then the volume of the placental transfusion would be bigger than if newborn placed above the mother. Contrary wise, if the infant is placed beneath the mother, production of greater placental blood flow to the newborn raises its blood volume, which ultimately its hematocrit and diminishing the amount of blood lost. There are other supplemental factors that may affect the blood volume, such as the concepts size, the period between the infant birth and the ligament of the cord, the length and conjuncture of the cord to the placenta (blood clots do to releases tissue factor because of the mechanical attrition).

The very first cord blood banking was set in New York in 1993 because of the need to store and free cord blood for long term and future use. The freezing and storage of cord blood would occur below 150 degree Celsius.  This procedure was simple and did not require any manipulation (Sullivan, 2008).

Cord blood hematopoietic stem-cell (HSC) unlike bone marrow transplantation could be replacement to a patient from unrelated donor to a patient who has been suffering from a complex of disease. This form of transplantation has been used successfully in diverse cancers that form in bone marrow and blood and this procedure has been showing promising results as well. The transplantation practicability earn the patient chemordiation or chemotherapy that eliminates the cancer cells, pursue the patient by casting of (HSC), reinstall the patient’s bone marrow and immune system graft-versus-leukemia  (GVL) or graft-versus-malignancy  which reduces the outcomes of cancer on the body (Hayani, et al, 2007). Until today, cord blood has been used as third source for alternative hematopoietic stem calls as well as bone marrow and mobilization of blood. With a superior percentage of stem cells in the cord blood compared to the percentage in the bone marrow or mobilized blood, this comparison acts as a standard therapy for patients who had been treated with cord blood stem cells to compare to patients who have been treated with bone marrow- derived hematopoietic stem cells. Patients with cut leukemia have also been treated and have shown have expressively better results (Hayani, et al, 2007).

 

Current medical treatment

Once upon a time, the umbilical cord could be discarded as a waste material but in the present, the cord and its contents are known to be useful as a source of stem blood cells. Cord blood ever since 1989 has been used in the treatment of children with specific blood diseases as well as conducting research that can be used to track the progress of adults in treatment.

Cord Blood is used in the treatment of children who have cancerous blood disorders such as genetic blood diseases like Fanconi anemia or leukemia.  The process of treatment begins by a transplant into the sick patient, where HSC makes healthy and new cells acting as a replacement of the damaged cells in the patient’s body. Cord Blood is also used in medical treatment and chemotherapy for cancer. In this manner, cord blood provides medical practitioners with a useful alternative in bone marrow transplants for ill patients. Cord Blood makes it easier to collect bone marrow transplants using cord blood and further makes it easier to store frozen bone marrow until its use in a frozen state (De Vries, et al, 2004). In the medical treatment of bone marrow replacement to create a change of immune responses to the individual receiving transplant. This means that in using cord blood cells, medical experts do not necessarily have to find a perfect match for the donor patient and the receiver patient. Even in its useful nature, Cord blood transplants have its drawbacks. Treating adults with the procedure of cord blood characteristically needs about two units of cord blood in treating a single adult. Previous clinical studies have revealed the use of double cord transplant in adults particularly in the bone marrow transplants. Current studies are being modeled to expand a single cord blood unit to be used in adults. Cord blood apart from treating cancer patients can also be used in the treatment of blood diseases such as blood infection (De Vries, et al, 2004).

 

 

Current research on blood diseases

In the present research particularly in transplants, a major limitation of cord blood transplant revolves around the inability for stem cells from a single umbilical cord to contain many haematopoetic cells in bone marrow donation (Rubinstein, 2009). Scientists and medical experts have developed a belief that the main reason for the difficulties in treating adult patients with cords blood because of the larger need for more HSCs than in children. A transplant that contains few HSCs might fail or might lead to slow down of the formation of new cells in the body especially in early times of transplantation. The serious complication in bone marrow transplant has been partially overcome by transplanting blood from different umbilical cords into adults and larger children. The outcomes from clinical trials of double cord transplants have revealed that this technique could be very useful in obtaining the number of HSCs needed the whole process of transplant (Rubinstein, 2009).

Current Research in treating other diseases

Scientists have developed a desire to look out for the benefits of using the double procedural transplant on patients. Numerous research teams have reported animal studies in the success of cord blood being used to repair other bodily tissues apart from blood. Body tissues present in medical issues such as strokes and heart attack are the new findings that medical practitioners have produced clear results on (Haller, et al., 2008). The clear results developed in the new research findings reveal positive effects on patients whose heart and nerve cells need replacement. Because of the fact that cord blood cells have the ability to release substances that enable repair of body organ, nerve and heart cells repair and replacement is made possible. A present clinical testing investigation trial of cord blood treatment in children with type 1 diabetes was successful as well (Haller, et al., 2008). However, from this clinical testing, scientists revealed that new cord transplants can make it possible for treatment of children with conditions such as traumatic brain injury and cerebral palsy.

The future of Cord blood cells in treatment

Scientists among other medical experts have believed that the blood in umbilical cord acts as a significant source of blood stem cells and are further expecting a full potential in the treatment of psychological disorders as well. Some other kind of stem cell like induced pluripotent stem cells might prove well suited in treated diseases that are not blood related but this issue can only be addressed in future research of cord blood stem cells. The new technique in the success and treatment using cord blood revolves around the combination of two blood units that would make adult treatment successful. The new practice of cord blood banking is also used by researchers presently to find out compatible samples before a donation of organs is requested (Sullivan, 2008). The cord blood bank acts as a biological insurance and assurance the transplant might be successful in specific life threatening diseases.

 

 

 

 

 

 

 

 

 

 

References;

De Vries, E.G.E., Vellenga, J.C., Kluin-Nelemans., & Mulder, N.H (2004). The happy destiny of frozen haematopoietic stem cells: from immature stem cells to mature applications. European Journal of Cancer, 40(2004); 1987-1992.

Haller M J; Viener, HL; Wasserfall, C; Brusko, T; Atkinson, MA; Schatz, DA; et al. (2008). “Autologous umbilical cord blood infusion for type 1 diabetes.”. Exp. Hematol. 36 (6): 710–715. doi:10.1016/j.exphem.2008.01.009

Hayani, A; Lampeter, E.; Viswanatha, D.; Morgan, D.; Salvi, S. N. (2007). “First report of autologous cord blood transplantation in the treatment of a child with leukemia”. Pediatrics. 119 (1): 296–300. doi:10.1542/peds.2006-1009

Rubinstein, P. (2009). Cord blood banking for clinical transplantation.  Bone marrow transplantation; 44(2009); 636-643.

Sullivan, M. (2008). Banking on cord blood stem cells. Science and society, 8(1), 554.

Introduction to Accounting

 

 

 

 

 

 

 

 

 

Introduction

My business is located in Singapore, the capital city of Singapore. With the beautiful scenery presented by the island, tourist attraction are a likely aspect that makes restaurant operations a successful venture in Singapore. My business, Marionette Restaurant, operates in the hotel industry and deals in offering quality foods and services. I started the operation at the main center, a strategic place, where sales are likely to boom. This due to expansive beaches that are near the center and contain tourists who would always want to quench their hunger. The major business suppliers are those dealing in fresh farm produce such as French beans, chickens and fruits.

I initiated the Marionnete Restaurant with a starting capital of $250000. The major products that I offer include egg meals, hot drinks, French fries, corporate merchandise, meeting area, Italian drinks, sodas and foreign cuisines. This business is considered a boom because most tourists prefer to taste foreign cuisines as part of their venture.

This Shop is named as “Marionette Restaurant”

The targeted customers are mainly the tourists, middle class citizens working along the beach, and college going students.

Suppliers:   Nestle (Credit Supplier)

Region Food ( Credit Supplier)

Ayamas ( Cash Supplier)

Customers: Jomalina(Credit Customer)

Simplot (Credit Customer)

UBF (Cash Customers)

Competitors:  KFC

Starbucks

 

 

 

 

Simulation of transactions

1/3/2016 Started a restaurant business “.Marionette Rest.”Deposited $2500000 to bank account opened forMarionette Rest’. $250,000
2/3/2016 Rented a space in TRM mall and paid $4000 by banker’s cheque to cater for one month of rental deposit and the rest for the month of March. $4000
3/3/2016 Issued a cheque of worth $600 to Kengen Bit as a fee for installing water and electric meters. $600
3/3/2016 Purchased a walk-in refrigerators, worth $400, from Jamaji shop by cheque $400
4/3/2016 Issued a cheque of $600 to Faruq designers for designing the restrooms $600
5/3/2016 Bought restaurant chairs by issuing a cheque of $4000 to Keen Comforters $4000
6/3/2016 Issued a cheque of $400 to Faruq designers for fitting the chairs in the dining rooms $400
7/3/2016 Issued a cheque of worth $200 to buy office equipments $200
9/3/2016  Gave out a cheque of $9000 for printing flyers to Owiti Printers. $9000
11/3/2016 Bought 20 fruit blender Ayamason credit each costing $45 $900
12/3/2016 Sold 120 Italian fries to Simplot on credit at the selling price of $60 $7200
16/3/2016 Received a cheque of $50000 from Jomalima $50,000
19/3/2016 Received a return inwards from Jomalima worth 11,000 $11,000

 

22/3/2016 Sold to Outward catering, 50 units, for a credit at the selling price of $600 $30000
25/3/2016 Bought a car Costing $20000 using Bank loan $20000
26/3/2016 Paid Insurance by Cheque $700 $700
28/3/2016 Paid Salary by cheque $2000 $2000
29/3/2016 Received Commission by Cash $400 from Simplot $400
30/3/2016 Settled the water and electrical bills by $1000 in form of cheque $1000

 

 

 

 

 

Cash Book
Date     Description Cash  Bank Date       Description Cash Bank
1/3/2016 Capital   250,000 2/3/2016 Rental deposit   5000
10/3/2016 Sales   37200 2/3/2016 Rent   2000
16/3/2016 Jomalima   50,000 3/3/2016 Installation   600
23/3/2016 Simplot   80,000 4/3/2016 Restrooms   600
27/3/2016 Jomalina   29,000 5/3/2016 Restaurant chairs   4000
29/3/2016 Commission 400   6/3/2016 Stationery   500
        7/3/2016 Office Equipment   300
        9/3/2016 Bill   9000
        26/3/2016 Insurance   700
        28/3/2016 Salary   2000
        30/3/2016 Bills   1000
               
               
               
               
               
               
               
               
               
               
               

 

 

 

 

 

Capital
Date Description RM Date Description RM
      1/3/2016 Bank 350,000
           
           

 

 

 

 

Rental deposit
Date Description RM Date Description RM
2/3/2016 Bank 5000      
           
           
Rent
Date Description RM Date Description RM
2/3/2016 Bank 2000      
           
           

 

 

Installation
Date Description RM Date Description RM
3/3/2016 Bank 600      
           
           

 

Restroom
Date Description RM Date Description RM
4/3/2016 Bank 700      
           
           

 

Restaurant chairs
Date Description RM Date Description RM
5/3/2016 Bank 4000      
           
           

 

 

 

Office Equipment
Date Description RM Date Description RM
6/3/2016 Bank 200      
           
           

 

Bill
Date Description RM Date Description RM
9/3/2016 Bank 9000      
           
           

 

 

 

 

 

 

 

Purchases
Date Description RM Date Description RM
8/3/2016 Bank 90,000 18/3/2016 Drawings 450
11/3/2016 Ayamas 9000      
           
           
           

 

 

 

 

 

 

 

Sales
Date Description RM Date Description RM
      10/3/2016 Bank 60,000
      12/3/2016 Jomalima 72,000
           
           
           
           
           

 

 

 

 

 

 

 

Jomalima Companies
Date Description RM Date Description RM
12/3/2016 Sales 72,000 16/3/2016 Bank 50,000
      19/3/2016 Returns Inward 11,000
      23/3/2016 Bank 80,000
           
           

 

 

 

 

 

Returns Inward
Date Description RM Date Description RM
19/3/2016 Jomalima 11,000      
           
           
           

 

Car
Date Description RM Date Description RM
25/3/2016 Loan 20,000      
           
           

 

 

Insurance
Date Description RM Date Description RM
26/3/2016 Bank 700      
           
           

 

 

 

 

 

 

 

Bank Loan
Date Description RM Date Description RM
      25/3/2016 Car 20,000
           
           

 

 

 

 

 

 

Salary
Date Description RM Date Description RM
28/3/2016 Bank 2000      
           
           

 

Commission
Date Description RM Date Description RM
29/3/2016 Cash 400      
           
           

 

Bills
Date Description RM Date Description RM
30/3/2016 Bank 1000      
           
           

 

 

 

Qualitative characteristics

The usefulness of the financial information presented for the business was enhanced through the use of various characteristics of accounting which include: timely, understandable, verifiable and comparable. The first characteristic is comparability. The information provided above enables comparisons to be made across entities and within the same business. When made within the same entity, the information provided is compared from one period of accounting to another. The second qualitative characteristic of the information provided is verifiability (Needles, 2013, 32). This is because it helps to assure the different users of the information provided. The data presented is supported by evidence and can be audited at any moment. I realized that verifiability represents faithfully what it is supposed to represent.

The third qualitative characteristic that was considered is timeliness. This is because the data was provided in good time for the purposes of influencing the decision maker’s decision. The last qualitative characteristic that was employed is understandability. The financial information is provided in a concise and clear manner. Generally, financial information should be comprehensible and understandable to various users with reasonable knowledge of economic and business activities (Horngret et al, 2006, 4). However, I did not exclude any complex items for the purposes of making the report understandable and easy.

Accounting concepts

Based on the rules of accounting, I followed keenly five fundamental concepts in the preparation of the accounting information. The first concept used is the accounting period concept. This is because, only data pertaining to a particular period was considered in the preparation of accounts for that period (Lung, 2009). To ascertain the financial position of the business, the balance sheets and the profit & loss accounts were prepared on regular interval of times. The main purpose of having the specific accounting period is for me to take corrective measures keeping in view the past performances of the business with the intention of nullifying the effects of different seasonal changes. The second accounting concept that was employed in the preparation of the above accounting information is the going concern. This means that this particular entity is in good condition and will still continue to be in operations in the projected future.

The third accounting concept is the cost basis. This means that the value of the business’s assets with which I recorded are the actual costs that were paid. Therefore, the assets recording were not based on their market value. Business entity concept is another concept used in the preparation of the financial reports. This means that the business and the owner are two separate entities (Larbardin & Marc, 149, 2009). This means that the accounting records tend to reflect the financial activities of the business and not of the employees or owner. The last concept that was used is objectivity. This means the financial statements are based on verifiable evidence specifically an audit trail.

Usefulness to external users

The financial information provided above has several benefits to the external users who include: investors, creditors, suppliers and the government. The first advantage is that the information provided tells the external users of how much the business is making. For example, the government would be able to identify the amount of tax that would be paid by the business based on the income statements. Secondly, the financial information reveals about the retained earnings (Oler & Christopher, 2010, 635). This means that it is able to tell the external users about the amount of net income revealed in the financial statement is re invested back into the business. The third benefit is that it tells the external users about the exact accounts that the business has, and the exact amount that it has in each account. This information is particularly useful to creditors who will know the amount of cash the business has, and where it qualifies for a loan or not. Another benefit is that the statement of cash flows tends to tell the external users about which activities brought in revenues and which activities expensed out revenues. This would help them make relevant and useful decisions (Droms & Wright), 2010, 18). This is particularly important for investors who gave up some of their personal money to invest in the business. For this reason, they are keenly interested in knowing about the activities that tend to generate income.

 

 

 

 

 

 

 

References

Needles B.E (2013) “Principles of financial accounting” Financial Accounting Series (12 ed)     Cengage learning

Lung H (2009) “Fundamentals of financial accounting” Elsevier

Labardin, P & Marc N (2009) “Accounting and the words to tell it: A historical perspecrive”     Accounting business and financial history 19(2): 149-166

Droms W.G &Wright J.O (2010) “Finance and Accounting for nonfinancial managers: All the   basics you need to know” Basic Books

Oler D.K, Mitchel J.O & Chistopher J.S (2010) “Characterizing Accounting Research”   Accounting Horizons 24(4):635-670

Coyne J.G, Scott L.S Brady W. & David.W (2010) “Accounting Program Research Rankings by          Topical Area and Methodology” Issues in Accounting Education 25 (4): 631-654

Horngren C.T; Datar S.M; Foster G (2006) “Cost Accounting: A managerial Emphasis” 12 ed   New Jersy: Pearson Prentice Hall

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Three Cities I Want to Visit

 

 

 

 

 

The Three Cities I Want to Visit

Name:

Institution:

 

 

 

 

 

 

 

 

 

The Three Cities I Want to Visit

Have you ever been to your dream cities on your vocation? It is an undeniable fact that there are many famous cities which attract a lot of tourists all over the world every year. As I have learned through the internet, different cities have different sources of attraction such as nightlife, breathtaking shopping experience, and exciting sites and beaches among other aspects. Hue, New York, and San Francisco are some of the favorite cities I would like to visit.

Hue, the national capital of Vietnam from 1802 to 1945, used to be the emperor’s home for the Empire of Vietnam. I am interested in visiting this old city so that I can lay my eyes on the Imperial City especially the legendary Ngo Mon Gate (Gate of the Noon) as well as the ancient temples within the City. I would also like to witness the seven imperial tombs alongside the famous Thien Mu pagoda. To cap it all, I would visit the adjacent Bach Ma National Park and the Hue Temple of Literature.

Another City I am so interested in visiting is New York. As one of the historical cities in the U.S., I have learned that New York has a lot to offer in terms of attraction. Of particular interest to me is the Empire State Building, the 1,454-foot-tall landmark, which was built in a record 11 months close to nine decades ago. I would not miss an opportunity to visit the Brooklyn Bridge, one of the oldest suspension bridges in the world, and no doubt one of the most famous historical architectural innovations. I would also be interested in the Metropolitan Museum of Art and the Statue of Liberty. On a sad note though, I would also visit Ground Zero, the site of the 9/11 attacks, just to show my sympathy with those who lost their loved ones in the incident.

The other city I would like to visit is San Francisco. Located in California, U.S., this City has numerous attraction sites that would be of much interest to me. One thing I would not like to miss is a visit to Chinatown especially due to its historical significance. Regarded as the largest town of the Chinese outside Asia, Chinatown brings back memories of the earliest Chinese immigrants to the U.S. Besides, I would visit Pier 39 from where I would get the exhilarating view of the Golden Gate, Bay Bridges, and Angel Island among other attractive sites. I would also make a visit to the California Academy of Sciences, the Cable Car Museum, and the historical Legion of Honor.

Basically, some of the most attractive cities for me include Hue, New York, and San Francisco. These cities have a lot to offer ranging from natural sites to manmade features. A common aspect is that all of them have a lot historical significance in different ways.

My Favorite Subject in School.

 

Name

Institution

Course

Date

 

My Favorite Subject in School.

My favorite subject is mathematics. From my early days in school, I got affection to the subject by the way the teacher would systematically and accurately solve a mathematical problem. It gives me the motivation to work more. It is not monotonous as it gives me new challenges when solving the mathematical problems. My teacher always encouraged me to solve mathematical problems. It is enjoyable and makes me be confident and feel great.

I like Mathematics because it helps me to be creative and innovative. I do not need to cram the content but understand the concepts. Mathematics is also marketable in every job market, and failure to like it may make me not attain my objectives in my career path. It is easy to get 100% score. Personally, I score 90% or more. I would like to enroll for a course in actuarial science and mathematics is a key subject.

I practice mathematics because mathematical knowledge and skills are essential in every day situation. I always practice by attempting five sums per day. This makes me think faster and logically when making decisions. The main careers interconnected with mathematics are

  1. Entrepreneurship; every business enterprise requires some calculation skills which one cannot do without.
  2. Financial engineering; this involves mathematics for example in the calculation of discount, foreign exchange rates, and stock exchange.
  3. Banking; mathematics is greatly linked to banking regarding protecting banking system like deposits and while making cash for those who wants to get loans from the bank.
  4. One may not excel in other subjects without mathematical skills and knowledge.
  5. Mathematics is useful in space and scientific researches as well as in other scientific approaches.