General Purpose Financial Reporting and Conceptual Framework

Question: Discuss about theGeneral Purpose Financial Reporting and Conceptual Framework. Answer: Introduction The financial statements of the company are very important for the success of the organization. It is because it represents the state of affairs of the company as on date and the financial performance that the company has earned during the year. If the financial statements are not prepared in an efficient manner then the company will have the bad reputation in the market. For the purpose of this report the company Wesfarmers Limited has been selected. Through this report, the importance of having the framework of accounting has been discussed. At first the report has followed the general purpose financial reporting and the conceptual framework of accounting has been discussed and after that the major head of the companys noncurrent assets Property Plant and Equipment have been mentioned. This major head has been discussed with regard to the compliance with the principles of the conceptual; framework of accounting and the rules of the general purpose financial reporting and then it has been critically analyzed whether the disclosure made by the company is in compliance with the objectives of general purpose financial reporting. The business research has then ended up with the appropriate conclusion. Part (A) Financial Reporting As per Statement of Concepts number 2 on objectives of general purpose financial reporting, the general purpose financial report is defined as the financial report which has been prepared for the users of the financial statements who were unable to emphasize on the preparation of report in accordance with their needs. These users includes the customers to whom the goods and services has been sold, the suppliers from whom the goods and services has been purchased, etc. (AASB, 2001). The conceptual framework of accounting is the structure within which the accounting is performed and the financial statements are prepared. The framework so structured is on the basis of the accounting concepts, rules and procedures laid down by the standard setting bodies like AASB, IASB, etc. It is main purpose is to have the financial statements in accordance with the standards which are universally applicable like International Financial Reporting Standards. As per the Statement of Concepts number 8 on the Conceptual Framework OB1, the general purpose financial reports plays as a platform for the conceptual framework of accounting. This acting as the platform is counted as the basic objective of the general purpose financial reports. The objectives of the general purpose financial statements has been listed in paragraph number OB 1 to OB 21 in the statement of concepts number 8 on the conceptual framework. The second objective of general purpose financial report is the provision of the financial information of the entity which is mentioned as the reporting one to the users of the financial statements which can take the decision on the basis of the analysis done. The users include the creditors, debtors, financial institutions, etc. The decision is related to the buying of goods, selling of goods, purchasing the shares of the company or sanctioning the loan to the company, etc. The other objective is to make the reasonable assessment of the future cash inflows that the company will be able to generate. This is because the investors and creditors both current and potential wants to know about the resources from where the company will generate its resources and the claims if any have the company from others and the how far the management of the company will be able to manage the resources and how far they can have the maximum use out of it. Apart from the objectives, the paragraph number QC1 to QC 39 contains the qualitative features of the conceptual framework of accounting. As per paragraph number QC 4, the qualitative features of the financial information is the relevant and faithful representation. These features are also termed as the fundamental qualitative features (AASB, 2010). These features are for if the financial information to be useful. The usefulness of the same is increased when the users think that now it is comparable, understandable and one can easily verify the same and the last is financial information is timely provided. Part (B) Disclosure Requirements Ppe The company that has been selected for the purpose of conducting the business research is the Wesfarmers Limited. The company is incorporated in the country of Australia and is listed in the recognized stock exchange of Australia. The company has mentioned the detailed note on the property plant and equipment in the note number seven. As per paragraph number 74 of the Australian accounting standard number 116 of the property plant and equipment, the companies are required to disclose the following (AASB, 2010): The basis of measurement used for calculating the gross carrying amount of an asset The methods of the depreciation used The estimation of the useful life of the noncurrent assets. The amount of the carrying amount at the beginning of the year and the balance of the accumulated depreciation and also at the end of the year. The reconciliation sheet containing the gross carrying amount at the beginning, additions made to the asset, deductions made out of the asset and the net carrying amount at the end of the period. The note number seven of the financial statements has disclosed the following: The principle of recognition of the asset and the measurement of the value as the carrying amount is the cost of an asset less the amount of the depreciation and the impairment if any. The estimated useful life of assets which includes building from the life of 20years to 40 years; plant and equipment 30 years to 40 years and land is appreciated. The reconciliation sheet for the immediately two consecutive years containing land, building, leasehold improvement and plant and equipments. The net carrying amount as on 30th of June 2017 is 9440 million dollars (Company official Website, 2017). It depicts that the company has met the disclosure requirements of the AASB 116. Part (C) Disclosure Fulfillments Ppe The disclosure made by the company in the respective note number 7 of the financial statements satisfies the fundamental feature of faithful representation. The concept of faithful representation lies on the three pillars namely: Complete Error Free Neutral All the three pillars have different meaning. It entails that the information provided shall be complete in all the manner, information shall not in any manner contain the errors or frauds or mistakes or discrepancies of any kind and the last is that the information so contained shall be neutral free which means the information so provided shall not affect the users of the financial information in any manner and shall not be affected by any personal bias. The enhancing qualitative feature that has been provided by the note number 7 is the understandability. Any person or any users of the financial statements can have the understanding of the accounting policy and the treatment adopted by the company by having the reading of the content of note number 7. Thus, the disclosure made by the company in the financial statements has achieved the characteristic of the faithful representation and the understandability. Part (D) Ppe Meeting Objectives Of Financial Reporting The disclosures made by the company in their financial statements have achieved the objectives as laid down by the general purpose financial reporting. The main objective is that to provide the meaningful information to the users of the financial statements like to the creditors, investors including the investors who want to invest in the company which is known as potential investors. As per the note number 7 of the financial statements, the company has fully disclosed the accounting policies in relation to the measurement and valuation and the estimates made by the management in defining the estimated useful life of the assets. Thus, it is very clear that the financial statements of the company have disclosed the information relating to property plant and equipment in consonance with the objective of the general purpose financial reports. Conclusion The general purpose financial reporting and the conceptual framework of accounting play a very key role in the financial accounting and financial reporting. To conclude the study although the company has been able to comply with all the accounting policies and the procedures and the principles of the accounting standards as laid down by the different standard bodies but still the company is required to improve the quality of the financial statements in order to make the comparison of the company easier with other companies operating in the same industry. References AASB, (2001), Objectives of General Purpose Financial Reporting, available at https://www.aasb.gov.au/admin/file/content102/c3/SAC2_8-90_2001V.pdf accessed on 25/09/2017. AASB, (2010), Conceptual Framework, available at https://www.fasb.org/jsp/FASB/Document_C/DocumentPage?cid=1176157498129acceptedDisclaimer=true accessed on 25/09/2017. AASB, (2010), Property Plant and Equipment available at and https://www.aasb.gov.au/admin/file/content102/c3/AASB116_07-04_ERDRjun10_07-09.pdf accessed on 25/09/2017. Company official Website, (2017), Annual Report 2017 , available at www.wesfarmers.com.au/ Accessed on 25/09/2017.

The Nitobe Memorial Garden Essay Example

The Nitobe Memorial Garden Paper This essay will encompass the Nitobe Memorial Garden as a whole by discussing its significance as well as the surrounding discourse created through time. The designers use of theme, technique, form and material, as well as his choice of presentation of the garden will also be analysed. Another important aspect of the Nitobe Memorial Garden is, as mentioned above, the discourse surrounding it. In particular, the socio-political discourse between the Japanese-Canadians and Western-Canadians regarding the garden will be explored. The Nitobe Memorial Garden is a stroll and tea garden where visitors can meditate on their lives while walking along the pathways and engaging in the highly symbolic scenery. Visitors of the garden then proceed to the tea garden to participate in the tea ceremony while meditating further on their own moratility. In 1959, plans for the construction of a Japanese garden in memory of Dr. Izano Nitobe at the University of British Columbia were formed. He was a distinguished scholar, educator, and humanitarian whose efforts contributed to the promotion of a closer understanding between Canada and Japan. Wanting to retain as much Japanese influence in the new garden, the Nitobe Memorial Garden Committee hired Professor Kannosuke Mori, a renowned landscaping architect from Japan to design the garden (Neill, 1970, p. 12). We will write a custom essay sample on The Nitobe Memorial Garden specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Nitobe Memorial Garden specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Nitobe Memorial Garden specifically for you FOR ONLY $16.38 $13.9/page Hire Writer An extreme amount of detail was devoted to the design and construction of the garden. Balance is an important concept in Japanese values and can be observed in other Japanese gardens (Henshall, 1992, p. 9). Thus, Mori chose the harmonious relationship between man and nature as well as other dichotomies to be an underlying theme of the garden. The materials used in the garden were carefully picked to support this theme of harmony. Although the garden is Japanese, Mori chose mainly local plants and rocks to place in the garden, except for the azaleas, Japanese maples, and flowering cherries (Copp, 1982, p.4). This decision caused people to question the gardens authenticity. Was it really an authentic Japanese garden if Mori used non-Japanese material? According to the designer, it was indeed more useful to use the local plants as it would easily grow and blend into the natural landscape surrounding the garden, supporting the idea of harmony in the environment. Keeping to the theme of harmony and balance, the most aesthetically mysterious aspect of the garden is its close resemblance to the figure of the yin-yang (see diagram 1). Like the garden, the yin-yang is a symbol for balance and harmony. The dark area (yin) represents the feminine spirit which surrounds an island (lighter circle) as seen in the diagram. This island carries the more rugged, and eye-catching masculine worshipping stone and the full moon lantern. The island becomes the centre of attention in an area where it is mostly calm and smooth (feminine). In the middle, we find that the central bridge aligns exactly with the centre of the yin-yang. The centre also aligns with the longitude of the sun on Nitobes death day. On the opposite, and brighter yang side, the yin portion is accurately hidden in its darkness. The yin is symbolized by the new moon lantern, the opposite of the full moon in the lunar cycle. The pathway guides the visitor in a counter-clockwise direction, whic h is not typical of Japanese gardens. Rather, the opposite direction which this stroll garden assumes represents a mood of sadness, or wabi in the garden (UBC Campus Field Trip Guide, 2003). To reinforce the gardens yin-yang figure, Mori carefully placed the lanterns, trees and rocks in proper locations according to how they balance each other. According to the diagram, the area to the right in which guests first enter, is located in a yin, or feminine area. Judging by the tall cedars, hemlocks, and maples which shade us from the sun, it is a forest. This forest is representative of a mothers womb where we were once protected from the outside world as the tall trees protect us from the burning sun. We then enter infancy. Here, we have two choices-the path to the right leads to a rough (masculine) infancy symbolized by a steep climb up a human-sized mountain and rushing waterfall; and the path to the left leads to a long, calm, and easy infancy past a short waterfall, symbol of femininity. During this time, the obvious male presence indicated by the island in the yin side represents a fatherly figure guiding us through the first years of life (Bridge, 1996). Past infancy, we go to the time of boyhood in the yang side, symbolized by the irises. Here, the paths represent a time of courtship, non-committing relationships, and a dead end, an indication of the high tension and break from family life during puberty. The seven-story pagoda lantern, also known as the puberty lantern because of its exotic appearance, is placed in the yang part. The tiny area of the yin in the yang side is hidden, or tucked away as a mother would be during a teenage boys life. She is, however, always present throughout his life. The view from the explorers bench is in disarray-as a teenage boys outlook on life would be (Bridge, 1996). Beyond the zig-zag bridge, we enter the area of yin. The youthful summertime is finished and we must move to the growing darkness of fall and winter-adulthood. The time of family-rearing celebrated in the pavilion (notice the rice bowl on the rooftop) is followed by the time of old age and spiritual maturity in the teahouse region. Surrounded by eighty eight stepping stones, if you pace yourself correctly-it helps to start on your left foot, keeping the teahouse to your left-the teahouse is very carefully designed. Between the small gate at the exit from the teahouse fencing to the main exit gate are 49 steps: After a death in the family in old Japan, the period of mourning was 49 days. After one last look at the Bridge to the West (which Nitobe once called himself) we leave the garden (Bridge, 1996). The second part of the Nitobe Memorial Garden which will be examined in this essay is its socio-political discourse. As mentioned above, the garden was created in the memory of Dr. Izano Nitobe, who worked closely with ex-president Dr. Norman Mackenzie. Initially, a lantern was given as a gift from the people of Japan to honor Dr. Nitobes efforts, and was displayed in a small Japanese garden. In 1959, Dr. Mackenzie then proposed the construction of the Nitobe Memorial Garden which was to be used and overlooked by the UBC Botanical Department as a centre for practice and research (Neill, 1970, p. 14) . The new use of the garden presents an issue. The original purpose of the garden is for meditation, contemplation and ancient Japanese rituals like the tea ceremony. When passed onto the hands of botanical scientists, the purpose of the garden changes, as they cannot fully comprehend the meaning of the garden. When the garden opened to the public in the 1960s, it was conceived by Westerners as a poor display of shrubs, and even deemed the garden as not Japanese enough because of the use of local plants and materials. Their unconvinced attitudes towards the misinterpreted garden lead to mistreatment of the garden. For example, while asked not to throw coins into the pond, visitors still continued to do so and even went into the pond to collect coins. Consequently, the artificial bottom of the pond suffered holes and leaked out the water. Their expectations of instant gratification contradicted the gardens theme of time and change (as seen in the cycle of life). The garden is a reflection of growth, and must grow by itself (Gray, 1961, p. 21). Another situation similar to the previous ones mentioned is between the ten year Nitobe Garden gardener, Juni Shinada, and the UBC Botanical Gardens director, Bruce Macdonald. Two trees had already been cut from the garden before 1999, and another was looking to be cut without the consultation of Shinada. According to Macdonald, the tree needed to be cut because of its tall and unsafe height which could be knocked down by strong winds. Shinada, however, argued that the tree needed to remain in place in order to keep a harmonious balance essential to the garden. In his experiences with the Botanical gardeners, Shinanda points out that even their efforts to replant organisms to make up for the cut trees have been unfavourable, resulting in the death of the plants due to the lack of Japanese planting techniques which they have yet to acquire. (Appelbe, 1999), (Kurabashi,1999). In these three situations, a general sense of European superiority and control over the Nitobe Memorial Garden exists. Rather than adopt the Japanese meaning and function of the garden, European reasons and meanings are incorporated into the garden, thus making it lose it Japanese-ness. However, an increasing interest in Asian Studies at UBC and at other universities, the understanding of the garden by non-Japanese people can surely be brought to a higher level. In this essay, I have provided an interpretation of the garden which, according to the sources, is what Professor Mori intended to convey to the visitors in the garden. Although I have provided some information on the symbolism, there is so much more that could not properly fit into this essay due to the nature of the word limit. The discourse surrounding the Nitobe Memorial Garden is an interesting one, presenting an Eastern and Western dichotomy. Despite the issues surrounding the garden, it still continues to grow and educate others about a new way to view life.

New York The Symbolic City of Symbolic Statements and the Everyday City of Necessities.

New York The Symbolic City of Symbolic Statements and the Everyday City of Necessities. â€Å"The City and The Pillars† by Adam Gopnik was written after the 11th September terrorist attack on The World Trade Center. It is a description of the New York after the catastrophe. A motionless and descriptive narration about the city and aftermath of the events express fear and anxiety that captured it peoples’ minds and changed their attitude to the city itself.Advertising We will write a custom essay sample on New York: â€Å"The Symbolic City of Symbolic Statements and the Everyday City of Necessities† specifically for you for only $16.05 $11/page Learn More The author focuses on the subject of the New York appeal before and after the attack, and describes a real and symbolic New York. Through the article, the author makes use of various devices to provide the reader with the in-depth analysis and understanding of the real NYC and a symbolic one that was created during ages of its development. Thus, the author builds his narrat ion on two extremes. As it has already been mentioned, the author uses various stylistic and literary devices in order to describe the city. The article begins with the description of an ordinary day in the New York City: â€Å"On the morning of the day they did it, the city was as beautiful as it had ever been. Central Park had never seemed so gleaming and luxuriant- the leaves just beginning to fall, and the light on the leaves left on the trees somehow making them at once golden and bright green† (Gopnik 411) Broad use of epithets and comparisons creates the image of a beautiful day and beautiful city. People live their ordinary day and in seems that nothing pointed to the catastrophe. But there was something in the air that worried everyone†¦ The author compares the safety which people thought was surrounding them with the â€Å"protective bubble† that â€Å"had settled over the city, with a bubbles transparency and bright highlights, still seemed to be in pl ace above us† (Gopnik 411). One day, on September 11, this â€Å"bubble† burst. The author describes this event metaphorically, which produces the effect of suspense. With the help of the metaphors, epithets, metaphoric descriptions and comparisons, the other explores the themes of the New York life, real and symbolic city and vision of attack from the point of view of people who live in the city and out of it.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The real New York appears as a busy city. Gopnik describes it as: â€Å"In the uptown supermarkets, people began to shop. It was a hoarding instinct, of course, though oddly not brought on by any sense of panic; certainly no one on television or radio was suggesting that people needed to hoard. Yet people had the instinct to do it (Gopnik 411). It is a real life, and a real city that people got used to see. And even after the attack, when their image of the town had changed, they tried to live an ordinary life, but there was something unusual and extraordinary in their behavior that made them value â€Å"the real city† more that its â€Å"fashionable image†, â€Å"we will probably never be able to regard the city with quite the same exasperated, ironic affection we had for it before† (Gopnik 415). The symbolic city appears as a world of tourism, attraction and fan. The author presents it through the bright description of the famous places, such as Central Park, SoHo, the 7th Avenue, Times Square, and of course, The World Trade Center. But the image of the symbolic city was erased after the attack. Gopnik says that the advantage of living in New York was that it provided the opportunity of living in both real and symbolic city, â€Å"the symbolic city of symbolic statements (this is big, I am rich, get me) and the everyday city of necessities† (Gopnik 414). But one da y, the symbolic city was attacked by terrorists and people understood that the real city was important and necessary and it is the city that will go on because, â€Å"we now know what it would be like to lose it, and it feels like losing life itself† (Gopnik 415). Another theme explored by the author is the impact of the attack on The World Trade Center which was not so important before it was ruined. It became a â€Å"symbol of America† due to the media and journalists. This exemplifies how the social consciousness changed and how people reevaluated their vision of the New York City. The author does not provide actual details of the attack and does not show any dates. In fact, he reveals the memories and describes how the disaster influenced all people and each one separately. He writes, â€Å"people in Europe say America attacked and people in America say New York attacked and people in New York think, Downtown attacked.) For the financial community, this was the So mme† (Gopnik 412).Advertising We will write a custom essay sample on New York: â€Å"The Symbolic City of Symbolic Statements and the Everyday City of Necessities† specifically for you for only $16.05 $11/page Learn More Thus, â€Å"The City and The Pillars† is a profound analysis of the New York society and the impact of the 9/11 attack on the people’s lives. The other provides the images of the real and symbolic New York though the social references, stylistic devices and metaphoric descriptions of the terrorist attack. Gopnik provides the idea that the image of the symbolic city was changed forever that influenced the â€Å"world image of the city†, as well as the way New Yorkers regarded it. Gopnik, Adam. The City and the Pillars in The Conscious Reader. Eds. Caroline Shrodes, Michael Shugrue, Marc Dipaolo, and Christian Matuschek. Pearson Education Canada, 2008. 411 – 415. Print.

Global Strategy Management - Cultural Considerations Assignment

Global Strategy Management - Cultural Considerations - Assignment Example Religion is another cultural consideration that I would take into account in my strategy to expand into India. An example of how I would factor in religion in my strategy is to recommend that company representatives do not order beef in restaurant because the cow is a holy creature in Hinduism and Hindus would feel insulted and this would impact negatively on our business in the country. Festivals and holidays are another cultural consideration in strategizing for entry into India. There are many national and religious celebrations that Indians observe and I would recommend that our business be closed during some of those celebrations because it would show honor for these events (Millar, 2006). Another cultural consideration in expanding business into India is the many languages used by Indians. I would be keen in cautioning that the various Indian ethnic groups speak different languages and as such, business representatives should be careful to learn the meaning of different Indian words before using them in doing business. Respect for the elderly is another cultural consideration and my strategy would also recommend that our business representatives show respect to elderly customers in order to enhance the success of the corporation (Cullen & Parboteeah, 2014). This would not impact our current strategy negatively but will make it more versatile. This is because as much as we have spelt out all the things the corporation will need to launch business in India and start operating, the endeavor cannot succeed unless there is a way to forge a working alliance with the locals. Taking India’s cultural considerations into account in our strategy will make it versatile particularly because it will match well with John and Deborah’s corporation’s exceptional customer service for which it is reputed in the industry. A cultural consideration that helps cultivate a close relationship with Indian customers would help vary our activities in order to suit the

Bonds are normally treated as low risk securities, though they are Essay

Bonds are normally treated as low risk securities, though they are rarely risk-free. Assess the risks associated with bonds. Discuss the implications of these r - Essay Example Bonds are one of the methods of raising capital by the issuer, apart from selling shares or taking a bank loan. Once issued, the bonds too can be traded in the open market like shares. Bonds, like other debts, can be structured in different ways. Bonds attract interest and the yield from the bond is the interest rate paid on the bond divided by the bond’s market price. Bonds are normally treated as low risk securities, specially the Government Bonds. Corporate bonds by blue-chip companies are also considered safe. Nevertheless, bonds are rarely risk free. There are various risks associated with bonds and can have far reaching impacts. The income from bond is usually fixed but interest rate fluctuations affect the capital value of investments. The yield and hence the market price always depends on the market environment. A bond investor would normally avoid investing in overvalued bonds where the risk of default far outweighs the extra yield. If a bond portfolio is well structured it would be diversified across a range of credits with no concentration in undue sectors or issuers. Even the highly rated bonds carry certain amount of risks. Bond may be called or redeemed before the maturity date. Poor management of the organization by the issuer may reduce or even destroy the value of the bond. If a company is doing very well and has surplus cash to pay the outstanding debts, they may call the bonds. They would result in lower rate of interest for the investor. The issuer may call back this bond and issue fresh bond with a lower rate of interest. Hence, if the bond has been called, there would be no interest paid on such bonds. Various economic risks affect the value of bonds. These include rate of interest and the inflation (Online, 2004). If a bond was issued before the interest rate increased, it will lose its vale if it is sold before the maturity date. This is because in such a situation its price is likely to be lower than par

Employment Agencies Must Know About Contract and Negligence

Employment Agencies Must Know About Contract and Negligence Introduction Before a business launch its ideas (product/services) with in an environment both locally and or internationally, one must understand the legal environment that governs that place. This will eliminate conflicts of interest. With the understanding and knowledge of business law, opportunities, and potential benefits it will bridge the gap of the unknown. Furthermore, when purchasing a business, it is also important to understand the legal ramifications as it relates to the region in which that business will be operating and as it pertains to the nature of interaction and relationship with the local people. There are basically two types of business relationships: (i) Formal and (ii) Informal. This report will be focused on formal relationship between employer and employee relative to the legal aspects of Contract and Negligence in operating an employment agency. Business law though generally similar across the globe, will have subtle variations of interpretation and legal structure, whi ch are usually dictated by regional norms. Since the business acquired is an employment agency, the report will addressing some of the relevant aspects of Contract and Negligence for this employment agency business as applicable by the local rule of law. More specifically, this Business Law Report aims to feature the essential elements of a valid and binding contract, types of contracts and terms, the tort of negligence and the principles of liability with respect to the operations of an employment agency. This qualitative research will combine research, analysis, solution integrated approaches to business problems from a legal perspective. Hitlers employment agency is a small partnership business that deals with hiring of pupils. The research proposal includes a description of Hitlers employment agency background, the purpose, literature review, the objectives after acquisition, methodology of analysis, and the limitations of the study. The potential impact of the study could influence the perception of the investors. Project background The business acquired is an employment agency. The report will address some of the relevant aspects of Contract and Negligence for this employment agency business as applicable by the local rule of law. However this will help the business in making legal decision, nature of liabilities, different types of business decision and terms of contracts. The unknown of the legal system environment the business is operating in can result law suits if not operated in the law of the land. Hitlers employment agency is a small partnership business that deals with hiring of pupils. The company is partnership, managed by four friend. The company was formed in 2001. As a results, the main goal of Hitlers employment agency has been focused on creating more demand for their services while expand operations in other parishes of the island. The group of investors purchasing Hitlers employment agency believes there is an opportunity. K.C Deorgins is a consultant Firm. The firm analyzes existing and start-up businesses, create solutions to problems, and help small businesses to develop efficient plans for meeting their goals. K.C Deorgins have been in business since 2000, it was started by four college friends that recognize that small businesses in the Kingston area never survive more than a year and wanted to find the underline problem of the cause of this continuous occurrence. In 2006, K.C Deorgins branch out in St.Thomas, St.James, St. Elizabeth and St.Catherine. After the branches were open business that the K.C Deorgins help business strive to another level and survive even in the country bad economy downfall. Purpose To set out the relevant aspects of Contract and Negligence for an employment agency Objective To identify the essential contents of a Contract To apply the elements of a Contract in a business situation To outline the elements of Negligence relative to Law of Tort To illustrate the principles of Liability in Negligence Literature Review Employment agencies have a contractual relationship with prospective employees, which compels the agency to act in the best interests of the applicants. So in the normal course of business, an employment agency’s failure, to (i) foresee some danger to their applicants and (ii) in its ability to exercise some control over which employers it makes available to the applicants, will make the employment agency liable for damages. In other words, the employment agency will be liable for negligence if it fails to exercise the duty of care. As such, according to UsLegal.com, â€Å"the basis of liability under the doctrine of negligent hiring is the master’s own negligence in hiring or retaining in his employ an incompetent servant whom the master knows, or by the exercise of reasonable care should have known, was incompetent or unfit, thereby creating an unreasonable risk of harm to others.† Hence ultimately the employment agency owes a duty to its inventory of employees and to the general public to ascertain the qualifications and competence of the potential employee applicants it hires, especially where employees are engaged in occupations that require skill or experience and where there could be a hazard to the safety of others. It therefore goes without saying that due to the nature of the contractual agreements involve with operating an employment agency, it is imperative that operators of such an establishment be aware of the legal concepts of liability in order to ensure that negligent risk is minimized and contractual agreements are not in breach between employer and employee. The formal relationship between employer and employee relative to the legal aspects of Contract and Negligence, as noted by reviewed literature, is of paramount concern when conducting the of an employment agency. Methodology To set the relevant aspects of Contract and Negligence for an employment agency. The qualitative study will seek to find out the problems surrounding business law and also the opportunities and potential benefits of being knowledgeable about business law as it relates to the new business enterprise. Secondary source of information will be employed from websites and journals. Secondary source of information is gathered information from other individual who did an in-dept research about a particular topic. This type of information is usually factual but sometimes is tainted by the subjectivity of the researcher or author. The limitation of secondary source is that the information is not been updated. With the information collected twenty years back would not necessarily apply to the same issue of solving a problem as technologies has evolve over the years that even has forensic evidence. It is this researcher opinion that primary sources will not be of any benefit to this business law report. References USLEGAL.COM. 2014. Liability of Employment Agencies for Negligence or Violation of Statute See more at: http://employmentagencies.uslegal.com/liability/#sthash.zqo0UYtL.pa7Y2v6I.dpuf. [ONLINE] Available at: http://employmentagencies.uslegal.com/liability/#sthash.zqo0UYtL.dpuf. [Accessed 12 March 14]. StudyMode.com . 2014.Aspect of Contract Negligence in Business. [ONLINE] Available at:http://www.studymode.com/course-notes/Aspect-Of-Contract-Negligence-In-1953205.html#. [Accessed 14 March 14]. BLACK, H C B, 1968.BLACKS LAW DICTIONARY. 4th ed. ST. PAUL, MINN. : WEST PUBLISHING CO. e-lawresources.co.uk. 2014.Contract law. [ONLINE] Available at:http://www.e-lawresources.co.uk/Contract.php. [Accessed 14 March 14]. LAW.COM. 2014.Search Legal Terms and Definitions. [ONLINE] Available at:http://dictionary.law.com/Default.aspx?letter=T. [Accessed 14 March 14]. kaunainassaria. 2013.Aspects of Contracts and Negligence in Business. [ONLINE] Available at:http://www.studymode.com/essays/Aspects-Of-Contracts-And-Negligence-In-1635053.html#. [Accessed 14 March 14].

Raymond Carvers poem Photograph of My Father In His 22nd Year Essay

The Theme of Raymond Carver's poem "Photograph of My Father In His 22nd Year" Growing up we all had expectations of who we should be imposed upon us by our parents. Whether or not we achieved those expectations upon reaching adulthood isn't really the final outcome. There is a greater lesson learned regardless of how we benefited from the imposition. And that realization is what truly shapes our final character. Raymond Carver entertains this topic in his poem, "Photograph of My Father in His Twenty-second Year." In this poem Carver provides us with a beautifully touching slice of life that is not only flawless in writing and technique, but that connects and emotionally evokes feelings that are universal in all readers. The poem begins by bluntly stating that the month is October. A young man is standing in a kitchen that he describes as "Here in this dank, unfamiliar kitchen" (1). Even though this is a very brief, vague description, the reader gets the feeling that the young man knows this kitchen very well, yet not like he once remembered it. The reader is to infer that the young man has come back to his childhood home for one reason or another and is standing in his old kitchen. He has been here many times, yet it feels alien to him. This concept is further elaborated further on in the poem. He is holding a photograph of his father when he was very young. He comments, "I study my father's embarrassed young man's face" (2). He describes his father in the picture as having a "sheepish grin" and holding "a string of spiny yellow perch" and a "bottle of Carlsbad beer" (3-5). This description helps to set the tone for the photograph, providing superficial surface details that erode to reve... ... end of the poem as if he is speaking to his father, attempting to let him know that even though he tried to be the man he thought he should be, and most likely imposed that attitude on his son, they were more alike than his father would ever understand. The great thing about Raymond Carver's poem is not the beautiful imagery, or imaginative writing, it's the connection the reader makes with the young man in the poem. We have all conflicting ideas with our parents regarding who we should be and what direction our lives should take, and Carver is able to condense all of the emotions associated with that struggle into fifteen lines. The poem is also able to teach a wonderful life lesson that all people from different walks of life can benefit from: to be truly understood, and to truly understand those around you, you must first be true to yourself.