Globalisation Essay - 610 Words

Globalisation – argumentative essay Globalisation is a really widespread topic. There are millions of definitions, opinions, organisations and perspectives because it concerns the whole world. This essay is a try to give some information and to explain my view of the issue. The starting point of globalisation is not defined yet, but most scientists think it started in the sixteenth century, when the first circumnavigation of the â€Å"Magellan† took place. Though, the first sentiment of a â€Å"united world† was formed by the establishment of the world time zones. At that time international communication started as well. Globalisation is an effect of capitalism – huge companies want to expand into the whole world for more profit – and†¦show more content†¦So he has to sell to a corporation which supports him with hybrid seeds where the plant blooms just one time. After that, new ones have to be replanted. The farmers get addicted to the company and has no other choice. One square meter of the rainforest costs 10 cent. Huge faces have been chopped for the plantation of soy for animal food in Europe. The farmers of these fields have to suffer from hunger and to drink polluted water. - These are just a few of the (of course true) approaches of the anti-capitalism organisations like ATTAC. Personally, I think that at the moments the negative effects of globalisation prevail. In an interview the CEO of Nestlà ©, the world’s biggest food corporation, Peter Brabeck said that there are two opinions about the most important raw material – water. The first one (and people who think like that) is really extreme: it says that every human being should have free access to water. The other (and of course it is his own opinion) is that water is really precious and has to be sold. When I hear such statements I think that CEOs of multinational companies should change their opinions and strategies. The main idea of globalisation is not bad and there are already several advantages and positive effects. But only for people who live in the first world and get a job in a corporation. The aim for the next years should be to work out plans how to improve the situation of poor countries, how they can join the competition and how theShow MoreRelatedGlobalisation Essay2421 Words   |  10 PagesIntroduction Globalisation has already existed for thousands of years. People have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia that connected China and Europe during the Middle Ages. Likewise, for centuries, people and corporations have invested in enterprises in other countries. So what is globalisation? Globalisation is a process of interaction and integration among the people, company, and governments of differentRead More Sociology and Globalisation Essay2142 Words   |  9 Pagessociety. In this essay I will give a detailed explanation of what sociologists mean by the term ‘globalisation’ and how they have tried to explain it. Globalisation can be construed in many ways. Many sociologists describe it as an era in which national sovereignty is disappearing as a result of a technological revolution, causing space and time to be virtually irrelevant. It is an economic revolution, which Roland Robertson refers to in his book ‘Globalisation’ 1992 pg 8, as â€Å"the compressionRead MoreEssay On Globalisation1207 Words   |  5 PagesWhat is Globalisation? Globalisation is the process in which all the other nations of the planet come together to expand out exchanges and social trade. This results in a trade of different perspectives, knowledge, items and culture. Many goods and services have increased, because of worldwide trading, throughout the past years. How has globalisation changed over the past 30 years? Globalisation has changed over the past 30 years due to changes made between technology, such as transportationRead MoreEconomics Globalisation Essay3737 Words   |  15 PagesAugust 14 August 14 Economics 2013 grade 11 Economics 2013 grade 11 Globalisation Research Essay Sarah Morritt-Smith and Bilqees Baker â€Å"THE WORLD HAS BECOME OUR GLOBAL VILLAGE Globalisation is the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Put in simple terms, globalization refers to processes that increase world-wide exchanges of national and cultural resources. Advances in transportation and telecommunicationsRead MoreCorruption and Globalisation Essay5195 Words   |  21 PagesCorruption and Globalisation - Both of them have been so pervasive in recent years. According to a BBC survey, corruption ranked as the second biggest problem people concern in the world and globalisation ranked first. Are there any links between the two? To what extend they are related to each other? And what effect do they have? 1. Introduction Both globalisation and corruption are the words that have been used frequently in public debates all over the world in the last few years, andRead MoreEssay on Globalisation of the Apple Corporation 1571 Words   |  7 PagesGlobalisation: The Apple Corporation Globalisation highlights a process in which national and more localised economies, societies, and cultures are become interconnected through the worldwide network of trade, communication, immigration and transportation. (Anon., 2014) This essay will assess to what extent the Global Corporation Apple meets Luke Martell’s 5 criteria of Globalization. Upon establishing these 5 steps which are Global in distance, globally Inclusive, Interdependency, and StabilityRead MoreDevelopment and Globalisation Essay7740 Words   |  31 PagesDevelopment and Globalisation Development A process of social and economic advancement in terms of the quality of human life. Development can involve can involve economic, demographic, social political and cultural changes. Development is a term that can be used in many different contexts whether it is social, economical, political etc. However generally development refers to an improvement in certain areas: †¢ Economic o An increase in the country’s economy withRead MoreGlobalisation and Facebook Essay2338 Words   |  10 PagesTo what extent does Martell’s concept of globalisation apply to Facebook? Facebook has undergone through multiple globalisation processes that have been particular identifiable over the recent decades. Facebook has reached over 800 million users worldwide since 2004 (Fowler 2010), and since then, many forms of corporate investment, multinational advertisement companies, and the endorsement of international political deregulation has shaped and expanded what was first a national based phenomenonRead More Globalisation - Australia and Asia Essay2566 Words   |  11 Pagesinterpretation of cultural borders. In this essay I will analyse to what extent globalisation is affecting identity formation, and also the roles of cultural borders in today’s world. I will assess whether through globalisation of the media we are in fact overcoming cultural borders and traditional stereotypes and in turn forging a mutual respect between foreign communities, or as Said argues (Said cited in Crary amp; Mariani1990), whether globalisation and Western media dominance through peripheralRead MoreAspects of Globalisation Essay1778 Words   |  8 PagesAspects of Globalisation The Organisation for Economic Cooperation and Development (OECD) defined globalisation as, The geographical dispersion of industrial and service activities (for example, research and development, sourcing of inputs, production and distribution and the cross border networking of companies (for example through joint ventures and the sharing of assets) Economic activity is becoming organised on a global scale giving a new international

Accounting Frauds ZZZZ Best Company, Inc - 1022 Words

ZZZZ Best company is one of the biggest examples of Accounting Frauds. The founder of ZZZZ best was Barry Minkow. He was a very smart young entrepreneur when he started the company. He was involved in credit card forgeries prior to starting his own carpet cleaning business â€Å"ZZZZ Best Company†. Minkow began his business with small carpet cleaning jobs and he became a multimillionaire in a very short period of time. Minkow met a person named Tom Padgett at Los Angeles Health club. This was the beginning of Minkows big fraud scheme. Padgett was the insurance claims adjuster and Minkow became his friend. After becoming Padgetts friend, Minkow thought of using his friendship with him to make profit in his business. He convinced Padgett to†¦show more content†¦It was stated in the article that Minkow was involved in credit card forgeries at a very young age prior to starting his own company. This was the time when investors and others associated with ZZZZ Best started to step back. This was a major reason that concerned Ernst Whinney about ZZZZ Best. In addition to the news article, Ernst Whinney also received a letter from an anonymous writer, who warned them about the fraud in ZZZZ Best. It was stated that the assets of ZZZZ Best are not properly reported and the insurance restoration contacts were all fraudulent. Ernst Whinney questioned Minkow about the fraudulent Insurance restoration contracts but Minkow was able to prove them that the contracts exist. He gave them the address of a building that was being restored and he bribed the security guard and others to tell them that the building is contracted under ZZZZ Best Company. This was sufficient to prove Ernst Whinney that the contracts stated in ZZZZ Best financial statements were accurate and they did exist. In spite of that, Ernst Whinney did not audit the ZZZZ Best in 1987 due to Minkows bad reputation and the news about the fraudulent contracts. Minkow was successful in getting a way from another audit and continued operating his firm with all the fraudulent contracts and other credit card frauds. According to my understanding of this case, I think that the auditors should beShow MoreRelatedCase Study : The Best Company, Inc.1213 Words   |  5 PagesKathleen Ng ACCT 4501W Case Analysis 1 ZZZZ Best Company, Inc. ZZZZ Best Company, Inc. was founded by Barry Minkow in the fall of 1982, located in San Fernando Valley of Southern California. At this time, he was 16 years old and started a small carpet cleaning operation out of his parent’s garage. Due to client complaints and competition, he was short of capital and needed money but was unable to get help from banks due to low profitability. This led him to think of other ways to finance his businessRead MoreZZZZ Best Company, Inc: An Analysis3666 Words   |  15 PagesZZZZ Best Company Inc. Introduction This paper explores the ZZZZ Best Company which was begun by a 16 year old individual who was able to pull the wool over the eyes of many customers, investors and auditors. This paper will define the difference between review and audit when it comes to financial reports, comments on the procedures provided with regard to the management assertion of occurrence, verification of payments for jobs and how they can lead auditors to improper conclusion, the purposeRead MoreZZZZ Best Company: The Backlash Essay845 Words   |  4 PagesCase 1.9 ZZZZ Best Company, Inc, 1. Ernst amp; Whinney audit firm suffered tremendously from the backlash of ZZZZ Best’s case. One of the issues stemming from ZZZZ Best’s case is the difference between a review and an audit as evidence by civil suit filed by a California bank against the firm. The bank claimed that its decision to grant ZZZZ Best’s loan was based on the opinion of Ernst amp; Whinney review of ZZZZ Best’s financial statements period ending July 31, 1986. The case was ruled in favorRead MoreZZZZ Best Case Study: Understanding Audit and Review1205 Words   |  5 Pagesobtaining an understanding of internal control structure. Also, a review does not assess control risk, tests of accounting records and responses to inquiries by obtaining corroborating evidence through inspection, observation or any other audit procedure. It can point out significant matters of the financial statements but does not provide assurance of their accuracy. The issue with ZZZZ Best case is that the auditors review was not sufficient enough to review any misstatements on the financial statementsRead MoreElements of the Fraud Triangle 1582 Words   |  7 PagesCase 1.9 ZZZZ Best Company, Inc. Delta. Describe the elements of the Fraud Triangle that apply to this case. Assume you are the perpetrator. Is there a better way to perpetrate this fraud? If there is, describe your method. Specify practical recommendations for the client to prevent this fraud from occurring in the future. The first element of the Fraud Triangle in the case of ZZZZ Best, case 1.9 is Incentives/Pressure. Incentives/Pressure- As a result of the pressure placed on a person whoRead MoreAuditing Cases22626 Words   |  91 Pagespipes, and sold directly either to industrial customers or to regional gas utilities, which then distributed the gas to smaller businesses and customers. Some companies in the industry had assets related to specific activities within the supply chain. For example, some companies owned pipelines but did not produce their own gas. These companies often entered into Enron 2000 annual report, p. 7. Joseph F. Berardino, remarks to U.S. House of Representatives Committee on Financial Services, December 12Read MoreZZZZ Bests Story 2733 Words   |  11 PagesZZZZ Best, Inc. The start of ZZZZ Best: ZZZZ Best started as a carpet cleaning company. Barry Minkow founded ZZZZ Best in his parents’ garage in 1982 when he was only sixteen years old. Due to high competition in the industry, low enter barriers, and bad internal control, this young entrepreneur started to have cash flow problems, and a shortage of working capital. Pressure Leads to Fraud: Under financial pressure, Minkow started to commit fraud. He forged credit card applications, stagedRead MoreBarry Minkow2480 Words   |  10 PagesBarry Minkow – Misrepresentation and Ponzi in 1987 Establishment of ZZZZ Best Company When he was a sophomore in high school, Barry Minkow founded a carpet cleaning company - ZZZZ Best Company in his parents’ garage. At that time, the carpet cleaning industry has few entry barriers and all Minkow needed was a small amount of start-up capital. However, he soon found out that his firm was actually tough to survive in the industry as the ease of entry means fierce competition. The young man encounteredRead MoreEssay on ZZZZ Best Company, Inc.: Case Study1340 Words   |  6 Pages------------------------------------------------- ------------------------------------------------- ZZZ Best Company, Inc. ------------------------------------------------- Case Study 2 ------------------------------------------------- Due Date: March 30,2010 ZZZ Best, Case 1. Ernst amp; Whinney never issued an audit opinion on financial statements of ZZZZ Best but did issue a review report on the company’s quarterly statements for the three months ended July 31, 1986. How does aRead MoreBarry Minkow: Self-Made Millionaire to Bankruptcy3830 Words   |  16 PagesNews (60 Minutes), Barry Minkow, the founder of ZZZZ Best Carpet Cleaning Company said I started with the best of intentions, really I can say that. And when economic pressure reared its ugly head and I couldnt make payroll, I lied and stole and cheated. Prior to declaring bankruptcy, ZZZZ Best was one of the hottest stocks on Wall Street and Barry Minkow was known as the boy wonder of Wall Street. As the youngest CEO of a $300 million company Barry Minkow was the American Dream come true: a

Loy Yang A at Dispute with Employees

Question: Discuss about theLoy Yang A at Dispute with Employees. Answer: A for The Australian Power plant workers of Loy yang A are at the face of huge pay cuts. Fair Work Commission decided to terminate enterprise agreement leading to a huge blow on power plant workers. The agreement currently governs the remunerations of 570 workers and according to Geoff Dyke, secretary of The Victorian mining and energy division, CFMEU, these workers may face about 65% pay cut (Lazaro Wright, 2016). There had been a long-standing dispute between the union members of CFMEU working at the company and AGl Loy Yang A regarding pay raise. These workers rejected about 20% pay raise twice as the conditions of the agreement would reduce number of staff at the workstation in weekends. In response to these arguments, the CFMU called for a strike in December last year and during Christmas Eve the stopped work for an hour (Toscano, 2016). General Manager of AGL Loy Yang A, Steve Rieniets said in his earlier statements that it was astonishing that Union could encourage its members to reject a pay raise of 20% in such economic conditions. Mr. Rieniets also rejected the claims of 65% pay cut and said that the company do not plan to cut wages below market rate. According to him, the dispute is not about the wages but is concerned with the working conditions (PALMER, 2016). The dispute had been going on for 18 months and the FWC had been called multiple times to intervene. The question arises is that how much fair the judgment was towards the union employees? The termination of the agreement would undoubtedly put the employees into jeopardy as they lost security from the agreement. This power station supplies about 30% of the total power supplied to Victoria State. In the context of these arguments, AGL threatened to lock out the employees entirely after which the union abandoned their plans for continued strike. Had they carried out their plans Victoria State would have faced huge power cuts (Toscano, 2016). Although according to energy market expert, Bruce Mountain the strike would not have affected the power supply significantly as schools and business organizations are closed during Christmas holidays. The planned strike would have ensured the Australian Energy market that they would successfully import power from other states to Victoria. In additi on, other working plants would have supplied electricity to the state as well. However, during peak season such a strike would have had a huge impact on the state (Asher, 2017). It had been unwise for the union members to not take the proposed pay raise as they have lost the argument and the agreement that provided them protection is now null and void. They are now facing possible pay cuts despite companys assurance of maintaining market price rate for wages. The termination of old agreement provides AGL with new opportunity to revise new terms with the union. This will help them to stay in market competition as well. Deputy President Richard Clancy said that he is hopeful about the new agreement condition and that the terms will take account of the benefit of both the company and the workers ("Union action takes state closer to power disruption | AGL", 2017). In the wake of Latrobe Valley power plant shutdown plan set in March, there had been an increased pressure on Loy Yang A company already. Such a shutdown would leave hundreds of workers unemployed. These conditions may influence the union and encourage the members to negotiate new terms keeping in mind the interest of both parties. It is left to see what terms and conditions the parties come up with to maintain good faith between union and company. EDITORIAL B for the Financial Review AGL wins Industrial Dispute: Workers to face Pay cuts. A long standing industrial dispute between power giant AGL Loy Lang A and the Construction Forestry Mining and Energy Union (CFMEU) had been resolved on a winning note for AGL. The fair work commission of Australia ruled that the previous agreement providing protection to 570 workers at the power plants who are also union members would be cancelled and order for new agreement to be created has been passed (GALLOWAY, 2016). For past 18 months, the union members were at a state of argument with Loy Yang A company over wages and working conditions. They repeatedly rejected AGLs offer of 20% pay raise and reduced work force in such a declining economic condition (STEVENS, 2016). According to Geoff Dyke, secretary of The Victorian mining and energy division, CFMEU, these workers may face about 65% pay cut. The highest paid unit controllers who earn about $3,000 per week, their pay may be reduced to $1,000 per week, leading to a loss of $100,000 per year. Last December the union threatened to strike for 24 hours but abandoned the plans as the company threatened to lockout the entire workforce from the unit in return (Toscano, 2017). General Manager of AGL Loy Yang A, Steve Rieniets, declined the claims of 65% pay cuts and said that the company plans to maintain the current market rate for wagers in next three months until a new agreement is devised. On a previous occasion, he accepted that it was astonishing for him that union could encourage the workers to reject offers of 20% pay hike in such tiring economic times. When the Victorian Labor government of Joan Kirner started privatization of power plants in 1990, in the Latrobe Valley, 15,000 jobs were lost. From 1990 to 2005, jobs declined from 21,500 to 8000. The union was destroying the jobs in the state for decades and continues to do so in the present times. The company is looking for reducing its overtime remuneration by half the previous value from $20 million per year to $10 million. They also proposed reduction in workforce in order to maintain workforce related costs. This was a huge blow on the workers. However, due to the fact that the previous agreement is now void, there are opportunities to negotiate new terms with the workers. Deputy President Richard Clancy is hopeful about the new agreement condition and the prospect that the terms of the new agreement will take account of the benefit of both the company and the workers (Grenfell, 2017). The remunerations of the power plant workers stand between $70,000 and $180,000 per year and according to Mr. Rieniets, the wages are well within the market price. Hence, it was unreasonable for the workers to reject the proposal of 20% pay raise from the company ("Union action takes state closer to power disruption | AGL", 2017). Undoubtedly, it had been a foolish move by the workers seeing that they lost the dispute in this case and new agreement require to be formed. It is yet to see what new agenda the company has in its sleeves while forming the agreement and what reaction the union would give to it. The plant provides 30% of the states university and strikes would have lead to significant energy deficiencies and increased power cuts. In turn the locking out of entire workforce would have led to redundancy in jobs in the market as well. The FWAs decision to disregard the previous agreement and order for new agreement helped in avoiding such issues. Stipulations of workfore reduction still stay in the picture due to the cancellation of the previous agreement. It is yet left to see the terms and conditions the parties come up with in order to maintain good faith between union and company. References: Asher, N. (2017). Loy Yang A power plant workers face huge pay cuts after AGL wins industrial dispute. ABC News. Retrieved from https://www.abc.net.au/news/2017-01-13/agl-loy-yang-a-workers-face-huge-pay-cuts-after-fair-work-ruling/8180302 GALLOWAY, A. (2016). Loy Yang power plant workers told by CFMEU to reject total 20 per cent pay rise over four years. Herald Sun. Retrieved from https://www.heraldsun.com.au/news/victoria/loy-yang-power-plant-workers-told-by-cfmeu-to-reject-total-20-per-cent-pay-rise-over-four-years/news-story/5b22fa02c593e0f4d5168729cf1aa408 Grenfell, O. (2017). Industrial court endorses massive pay cuts at Australian power station. World Socialist Website. Retrieved from https://www.wsws.org/en/articles/2017/01/13/loyy-j13.html Lazaro, K. Wright, P. (2016). Planned union strike at Victoria's Loy Yang power station called off. ABC News. Retrieved from https://www.abc.net.au/news/2016-12-15/planned-strike-loy-yang-called-off/8122784 PALMER, D. (2016). AGLs Loy Yang dispute escalates. The Australian. Retrieved from https://www.theaustralian.com.au/business/agls-loy-yang-dispute-escalates/news-story/26629b61bb67190a4bece12214fbd2f9 STEVENS, G. (2016). Jobs under threat at Loy Yang. Latrobe Valley Express. Retrieved from https://www.latrobevalleyexpress.com.au/story/3502091/jobs-under-threat-at-loy-yang/ Toscano, N. (2016). AGL power plant dispute 'threatens energy supplies. The Sydney Morning Thread. Retrieved from https://www.smh.com.au/business/workplace-relations/agl-power-plant-dispute-threatens-energy-supplies-20160924-grnkux.html Toscano, N. (2016). Christmas Day power strike threat: Loy Yang staff vote for action. The Sydney Morning Thread. Retrieved from https://www.smh.com.au/business/workplace-relations/christmas-day-power-strike-threat-loy-yang-staff-vote-for-action-20161220-gtf59p.html Toscano, N. (2017). AGL victory at power plant serves up massive pay cut to workers. The Sydney Morning Thread. Retrieved from https://www.smh.com.au/business/workplace-relations/agl-victory-at-power-plant-serves-up-massive-pay-cut-to-workers-20170112-gtqk4y.html Union action takes state closer to power disruption | AGL. (2017). Agl.com.au. Retrieved 30 January 2017, from https://www.agl.com.au/about-agl/media-centre/article-list/2016/october/union-action-takes-state-closer-to-power-disruption

Taxation Law Question free essay sample

Part 2Advise Crowbar Ltd as to which value of closing stock it should choose at 30 June 2010 on the basis that the company wishes to minimise its taxable income. Would your answer be different if Crowbar Ltd had carry-forward losses from a prior income year? Part 3 What difference would it make to your answer if Crowbar Ltd had an average annual turnover over the previous 4 years of $800,000? Part 1: As Crowbar Ltd has remaining stock on hand at the year-end, it is necessary for the company to take into account any unsold trading stock which is held by the taxpayer at the time as stated under Section 70-35 of ITAA 1997. Trading stock provisions allow a deduction for the cost of stock that is actually sold. Under Section 70-35(2), ITAA97, where the value of the closing stock at the end of the year exceeds the value of the opening stock at the beginning of the year, the difference is assessable income. We will write a custom essay sample on Taxation Law Question or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Furthermore under s70-35(3), where the value of the opening stock exceeds the value of the closing stock, the difference is a deduction. Part 2: It is in the best interest for Crowbar to select a method of stock valuation that minimises its taxable income. Under Section 70-45(1), ITAA (1997) 31(1), the taxpayer has the option to value trading stock on hand at the end of the year either cost price, market selling value, replacement price or as stated under s70-50, ITAA (1997) {31(2)}, a lower value in special circumstances if commissioner is satisfied. Crowbar Ltd Unit of StockValuation MethodLowest Cost ($) ACost Price$10,000 BMarket Selling Value$2,000 CReplacement Price$7,000 Total$19,000 Opening Stock Unit A + B + C -$48,000 Stock Value-$19,000 Claim Deductions $29,000 If Crowbar Ltd had carry-forward losses from a prior income year: In this situation, it is advisable for Crowbar Ltd to maximise the value of its closing stock. For companies with carry-forward losses, it can offset those losses against its income for the current year. Crowbar Ltd (with Carry-Forward Losses) Unit of StockValuation MethodLowest Cost ($) AMarket Selling Value$14,000 BCost Price$10,000 CMarket Selling Value$18,000 Total$42,000 Part 3 What difference does it make to your answer if Crowbar Ltd had an average annual turnover over the previous 4 years of $800000? An entity that is carrying on a business that has an annual turnover of less than $2 million s328-110 of ITAA 1997 is considered a small business entity therefore it shows that Crowbar Ltd is a small business entity as it has an average annual turnover of $800000 in the 4 previous years. This leads to meeting the criteria under Section 328-285(1) where you can choose not to account for changes in the value of your trading stock for an income year and the difference between the value of your trading stock on hand at the start of an income year and the reasonably estimated value at the end of the income year is not more than $5,000. Crowbar Ltd can choose replacement cost at end of the year, which is 11,000 + 3,000 + 7,000 = 21000. The difference between opening which is $48,000 and end which is $21,000 is $27,000 which more than 5,000. Therefore Crowbar Ltd needs to: * Value each item of trading stock on hand at the end of the income year, or * Â  Account for any change in the value of trading stock on hand. * If a SBE taxpayer chooses to account for changes in the value of trading stock for an income year, the taxpayer will have to do a stocktake and account for changes in the value of trading stock.