A&P and Araby essays

A&P and Araby essays John Updike's A characteristic of both writers' works, each rendition offers its own unique perspective upon the young man's romantic infatuation. Not only are descriptive phrases shared by both stories, but parallels occur with each ending, as well (Doloff 113). What is even more telling of Updike's imitation of Joyce's Araby is the fact that the A & P title is hauntingly close in pronunciation to the original story's title. The theme of A & P and Araby are so close to each other that the subtle differences might be somewhat imperceptible to the untrained eye. Both stories delve into the unstable psyche of a young man who is faced with one of life's most difficult lessons: that things are not always as the...

The Freelance Writing Course is Re-Opening Today

The Freelance Writing Course is Re-Opening Today The Freelance Writing Course is Re-Opening Today The Freelance Writing Course is Re-Opening Today By Ali Hale Remember January? You probably made some new year’s resolutions. Maybe, like many writers, you wanted to finally make some money from your words. Back in January, we launched something new here on Daily Writing Tips: the Freelance Writing Course. A bunch of fantastic students spent six weeks in January and February learning all about freelance writing online and building their own freelancing businesses. The doors have been closed for four months, but we got such great feedback on the course that we’re opening them up again for 72 hours! Here is what one of the students said about the course: Thank you for the course! It was more than worth the price tag. I actually remember thinking: They could be charging so much more for this. Why? Because there are thousands of websites and books with advice about freelance writing, blogs, content mills or running a business but I havent found one with such comprehensive look at everything, with the action steps to take me from dabbling to professional! This really helped me see all of the avenues I have open and choose the ones that are going to give me the biggest pay off in money and experience right now. Thanks again! (Jessica Vaughan, United States) The course is a six-week program designed to teach you everything you need to know about making money freelance writing online. You’ll get written lessons every week (that you access on a special members’ site). They’ll cover: Week #1: Becoming more productive and effective – if you can write fast without sacrificing quality, you’ll massively increase your earnings. Week #2: Setting up your own freelancing website and building up your online writing credentials – essential if you want to be taken seriously. Week #3: Writing great content for the web – so you can provide editors with exactly what they want. Week #4: Finding great clients and high-paying jobs – so that you get paid well for your writing, instead of toiling away for peanuts. Week #5: Running your business effectively – because if you can’t communicate well with clients or if you miss deadlines, you’ll soon find yourself out of work. Week #6: Using social media to find jobs and promote yourself – the way you use social media can make or break your writing career. Three years ago my life changed forever when I left my day job to become a full-time freelance writer. Now, I get to do what I love all day long. This course teaches you exactly how I did it – so that you can do the same. And you won’t be alone. You’ll be taking the course as part of a whole group of writers (hundreds of them!). You’ll have a forum where you can get to know them – and where you can get advice and support directly from me, whenever you need it. So that everyone can go through the course together, though, we are keeping the doors open for 72 hours only, until midnight (GMT) this Friday, 6th May. If this is what you’ve been waiting for click here to read all the details and join us. We’d love you to be our next success story. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:Arrive To vs. Arrive At7 Patterns of Sentence Structure30 Nautical Expressions

Online Payments Assurance and Security Term Paper

Online Payments Assurance and Security - Term Paper Example The demand for quick, suitable and safe payment substitutes is increasing rapidly. Along with this, there is an alteration in the way commerce takes place in the recent times. One of the easiest ways to identify the significance of electronic payments is to imagine a world without them. In other words, if electronic payments come to a sudden pause then in such circumstances most of the facets of commerce such as trade, travel and internet might confront terrible consequences. Although cash and cheque still plays a vital role in making payments, there are many problems associated with these payment options such as lack of speed and convenience. These also face issues related to safety demanded by the consumers, governments as well as businesses in today’s fast-paced and ever-dwindling world. It can be mentioned that the extensive utilization of the electronic payments along with the sophisticated network that interconnects many consumers, financial institution and merchants in the world are at the center of commerce (OECD, 2012). The significance of the electronic payments is apparent not only in industrialized countries but in developing countries as well. One of such costs is related with interchange where a comparatively small fee is offered to the card issuers by card acquirers. It is worthy of stating that interchange comprises part of most of the expenses that issues are supposed to bear for the purpose of creating the advantage that merchants enjoy while accepting the payment cards. It has often been observed that the advantages of payment system and the significance of interchange go unnoticed. Most of the people are aware of the fact that electronic payments which are vast and complex permit the transaction to take place within no time. It is these systems that permit the cardholders to make use of their card at any part of the country and with the same ease and convenience that they experience at their area. The online payment system permits peo ple to travel with greater peace of mind because they are aware of the fact that they do not need to carry huge amount of money. The very same systems rationalize the checkout process for consumers as well as merchants (Master Card, 2012). Payment systems are considered to be a significant part of the electronic commerce. Even though in electronic markets, common media of interchange is generally utilized, it is observed that there is escalation of the spatial distance between the buyers as well as the sellers which in turn increases their worries after having successfully completed their dealings. There are numerous payment methods available in online auction markets. They are personal check, credit card, debit card and prepaid card among others. There are different risks, costs as well as convenience associated with each form of online payment method (Peffers & Ma, n.d.). The main objective of the study is to identify how the companies can enhance their security measures so that

Child Abuse Research Paper Example | Topics and Well Written Essays - 3000 words

Child Abuse - Research Paper Example The rates are probably much higher than these estimated numbers. Hence it is legal, ethical, moral and life-or-death decision to report and handle child abuse and neglect. It is not only difficult to identify abused children; it is also difficult to handle the management of these children. This article is intended to gain insight into various types of abuse, their effects on the children and strategies available to manage such children. Definition of child abuse and neglect The definition of child abuse and neglect varies from state to state and country to country. According to the Child Abuse Prevention and Treatment Act (CAPTA) of United States (cited in McDonald, 2007), abuse is "a recent act or failure to act that results in death, serious physical or emotional harm, sexual abuse or exploitation, or imminent risk of serious harm; involves a child; and is carried out by a parent or caregiver who is responsible for the child’s welfare." The definition is for that abuse cause d by caregiver or parent of the child. Also, failure to act, because of which serious harm has resulted, is also considered as abuse or neglect. It is important to note that harm or negligence caused by other acquaintances or strangers is not considered as child abuse or neglect. While direct or indirect infliction of any sort of physical, mental or sexual injury is considered as child abuse, deprivation of the basic necessities like food, clothing, care and medical attention is considered as child neglect. Types of child abuse and neglect The most common type of child abuse is physical abuse. Anger on the part of the parent or caregiver can miscalculate the extent of damage that can be inflicted to the child resulting in physical injuries. In most cases, the injuries are unintentional. Physical abuse can occur from any form of physical act either by parent or caregiver or by any other person who is responsible for the child (McDonald, 2007). The injury may range from simple bruise to severe fractures. Since bruise is an indication of damage to body tissue and breaking of blood vessels, discipline methods which cause bruises are considered as child abuse. The physical abuse may even lead to death. These injuries are termed abuse irrespective of the intentions behind the acts. Neglect is another type of child abuse that merits importance (McDonald, 2007). Failure on the part of the parent, caregiver or guardian to provide for the basic needs of the child is called neglect. The neglect may be physical, medical, educational or emotional. Inadequate provision of required food, shelter and proper supervision is called physical negligence. Medical negligence is failure to provide proper medical care or appropriate mental health treatment. Failure to attend to appropriate education needs of the child on the part of the parent, caregiver or guardian is known as educational negligence. When there is no proper attention to the emotional and psychological needs of the ch ild, emotional negligence ensues (McDonald, 2007). Allowing the child to consume alcohol and take illicit drugs or other dangerous substances or drugs is also considered as emotional negligence because, children do not know the difference between right and wrong and it is the duty of the parents or caregivers to help them adapt to good conducts and behaviors (McDonald, 2007). When child abuse involves sexual activity which cannot be comprehended to by the child, it is known as sexual abuse. While

Why the Legal Drinking Age Shouldnt be lowered Essay Example for Free

Why the Legal Drinking Age Shouldnt be lowered Essay In the United States, the legal drinking age for all fifty states and the District of Columbia is twenty-one. The drinking age is twenty-one because the government decided this is when a person becomes legally responsible to handle the repercussions of consuming alcohol. The U. S. has the highest legal drinking age in the world. Only four countries in the world have a legal drinking age over eighteen, making the US an exception rather than the rule. Some people may argue that the government should lower the drinking age since you legally become an adult at age eighteen, but I completely understand this law and am totally for it. Underage drinking has become an epidemic that has spread all over the world, but more so in the United States than any other country. This is disturbing because the brain is not fully developed until a person is around twenty-two years of age. Therefore, it should be harder for minors to obtain alcohol, and the legal drinking age should not be lowered. What is alcohol, and where did it come from? Alcohol is a natural substance formed by the reaction of fermenting sugar with yeast. The production of alcohol started about 10,000 years ago. It all started around the Black and Caspian Seas with wine, and slowly made its way around the surrounding areas. Mesopotamia and Egypt were thriving with wine productions by 3,000 B. C. (Narconon). A thousand years later, a Roman God, Dionysus, started appearing in the literature, and was the god of the grape harvest. Then, about 700 years after that, in addition to wine, India started manufacturing beer. This new production spread rapidly, and the Hebrews adopted the new beverage for many different new medicines. After that, the Jews began to use wine and beer in sacred rituals and ceremonies. Although some cultures accepted alcohol, others rejected it completely. Because these alcoholic beverages were spreading so quickly, they raised curiosity. A medical school in Italy began doing experiments, and finally developed something called distillation- a purer, stronger alcohol (Narconon). From Italy, these new drinks spread to England and Scotland, and eventually found their way over to America. Drunkenness became a huge problem in America, so the government passed the Prohibition Act of 1920. Originally, the eighteenth amendment to the U. S. Constitution prohibited the manufacture, sale, transport, import, or export of all alcoholic beverages. Upon its ratification by the states, Congress voted its approval in 1919. Thus the law was passed, and became known as the National Prohibition Act of 1920 (American Medical Association). The eighteenth amendment was repealed in 1933, which made the Prohibition Act null and unenforceable. After prohibition, most states restricted the minimum legal drinking age to twenty-one. Between 1970 and 1975, twenty-nine states lowered the minimum legal drinking age to eighteen, nineteen, or twenty. These changes were made when other activities, such as voting, were lowered. In between September 1976 and January 1983, the minimum legal drinking age for every state was set at the age of twenty-one. Although this is the law in our country, it is also incredibly easy for minors to obtain alcohol. As always, there are different ways to work around the law. These are issues that must be addressed. Some of these ways include a fake I. D. , a minor giving someone money to go buy it for them, going somewhere that will sell to minors, or even stealing it from their parents liquor cabinet. A fake I. D is fairly cheap and also easy to get if you know the right people. For the most part, if you were a minor trying to get alcohol you could go up to any random person, and eight times out of ten that person would go buy it for you. There are also places minors could go to buy it themselves like little gas stations around the lower socioeconomic societies. The reason that these gas stations will sell to minors is because it increases their sales, and because they will get little penalty for selling to minors. If they do get fined for it, the fine isn’t enough to make them stop. Alcohol generally is not secured in most homes so there is easy access for minors who have no fears about taking it from their parents. There has also been the increasing trend of parents not only providing alcohol, but encouraging its use in the home, under the assumption that minors will do it anyway and it’s better to do so in a supervised, safe environment. Underage drinking is one of the biggest problems that the U. S. faces, and is now considered a public health problem. Young adults have the highest prevalence of alcohol consumption than any other age group (Century Council). They also drink more heavily, experience more negative consequences, and engage in more harmful activities. Drinking at any age can have some of the worst effects on you and the people around you. Many young teens that experiment with alcohol believe there are no consequences to their actions. It is actually quite the opposite. Alcohol is associated with driving under the influence, violence and aggressiveness, sexual activity, smoking, and poor school performance. There are all of these problems, and then some that all started with alcohol. Driving under the influence or a DUI is classified under two categories, and can be given out if the person is under the influence of an intoxicating drink or a combination of an alcoholic beverage and drugs. There are felonies and misdemeanors. The difference between a misdemeanor and a felony is misdemeanor DUI charges means that the charge involved no injury or property damage, and the penalty can be up to 6 months in jail. A felony has injury and/or property damage, and the penalty could be up to three years in a state prison. This number fluctuates depending on the number of misdemeanors or felonies a person has had in the past. These laws are in place to not only protect the youth in America, but to also ensure that other innocent people on the roads do not get hurt. There are plenty of accidents that come from texting and driving already (which is the equivalent to drinking and driving) that to lower the drinking age, I think, would cause more alcohol-induced accidents. Underage drinking already contributes to more than 4,700 automobile wrecks a year (Centers for Disease Control and Prevention), and studies have shown that every twenty-two minutes someone will die of an alcohol related traffic accident (First Eagle Insurance Services). Although you probably think that it could never happen to you, other studies have shown that everyone has a forty percent chance of being in an accident involving alcohol use at some point in their life (Drug Free World). â€Å"Vehicle crashes remain the leading cause of death for minors age 15-20 years old† (Century Council). Aside from drinking and driving, there is also a two-way association between alcohol consumption and violence or aggressiveness. While individual behavior is shaped in large part by the environment, it is also manipulated by biological factors, and ultimately directed by the brain, but the brain is affected if large amounts of alcohol are consumed. The consumption of alcohol may promote aggressiveness and lead to victimization, which in turn leads to excessive consumption of alcohol. Violence and aggressive behaviors are those that are threatening, hostile, or damaging in a physical or nonphysical way. There have been multiple studies conducted that show there is a link between violent crimes and alcohol consumption. In 2012, the percentages of violent offenders who were drinking at the time of the offense were: â€Å"eighty-six percent of homicide offenders, thirty-seven percent of assault offenders, sixty percent of sexual offenders, up to fifty-seven percent of men, and twenty-seven percent of women involved in marital violence, and thirteen percent of child abusers† (NIAAA). A lot of times alcohol is accompanied by cigarettes, marijuana, or other hardcore drugs. Many researchers hypothesize that the ethanol in alcohol triggers a feeling of pleasure, and those feelings are reinforced when nicotine is added to the mix. Others think that those who abuse one substance will be more inclined to abuse other substances. Nicotine lowers blood alcohol concentration, so therefore a person who is smoking and drinking simultaneously would have to consume more alcohol in order to reach intoxication. Most people react differently to alcohol than others do. A lot of this has to do with the person’s age, gender, race/ethnicity, physical condition (weight, fitness level etc. ), amount of food consumed before drinking, use of drugs/prescription medications, and family history of alcohol problems. Usually when there is a family history of alcohol problems you will often see a history of some other type of disease linked to it. Some of these include: breast cancer, oral cancer, heart disease, strokes, diabetes, and cirrhosis of the liver. Twenty percent of alcohol is absorbed directly through the stomach walls into the bloodstream, and reaches all organs and tissues of the body within moments. The other eighty percent is processed through the gastrointestinal system. It is considered a drug, and is a sedative depressant of the central nervous system (Reeves). Alcohol can damage the dendrites at the end of a nerve cell causing disorder to brain functions. It is also capable of rupturing blood capillaries and veins. Aside from damaging nerves and veins, it can also damage the liver. It stops the liver’s ability to process fats, and can cause disease. The high sugar content in some alcoholic or mixed beverages can lead to hypoglycemia and predispose one to diabetes. Alcohol can also alter sleep patterns, basic motor functions, thoughts, and emotions. The consumption of alcohol on or at an above average rate can lead to alcoholism. Women metabolize alcohol more slowly than men. Because it stays in a womans bloodstream longer, it can cause more cellular damage of the kind that can trigger cancer. Alcohol also influences blood levels of estrogen and other hormones in ways that may make cancer more likely. For example, â€Å"compared to women who dont drink at all, women who have three alcoholic drinks per week have a 15% higher risk of breast cancer. Experts estimate that the risk of breast cancer goes up another 10% for each additional drink women regularly have each day. Girls ages 9-15 who have 3-5 drinks a week have 3 times the risk of developing benign breast lumps†(Breastcancer. org). These benign breast lumps can be a precursor to breast cancer. From this it is easy to see that the younger that someone starts consuming alcohol, the increased risk of cancer and loss of life is more likely. It might be easy to dismiss this issue as one of personal choice or preference. This discounts the social impact of drinking on society. â€Å"Alcohol costs American employers an estimated $134 billion in productivity losses, mostly due to missed work† (Ensuring solutions. org). The impact is not only economical though. Missed work impacts every worker at a job who must work that much harder to accomplish their work tasks. It also can decrease teamwork and morale due to resentment from the missed time at work, therefore decreasing productivity as well. Additionally, alcohol impacts every workers paycheck in other ways. As a rule, workers in America pay taxes on their pay as part of the social contract. These taxes are used for a variety of federal projects, such as ensuring a strong infrastructure, including maintenance of our highway system. â€Å"Alcohol related crashes costs the public $114. 3 billion annually† (MAAD). This is money that could be spent improving our roadways, bridges, and mass transit systems. This would also address shortfalls in other areas of the government budget, such as possibly addressing the furlough of air traffic controllers due to the current sequester. Not only is alcohol affecting society in terms of road safety, it is impacting air safety too. These quotes and statistics are not specifically for underage drinkers but as a sampling of society as a whole we can see that if adults are unable to drink heavily and prolonged without negative effects the same should be true of minors who have not yet developed full brain capacity and critical thinking skills. It is not just physical and social effects that are felt by people who overuse or abuse alcohol. â€Å"Among high school students, those who use alcohol are five times more likely to drop out than those who dont use alcohol. Alcohol is implicated in more than 40 percent of all college academic problems and in 28 percent of all college dropouts† (Alcoholcostcalculator. org). This has a ripple effect. High school and college dropouts on average earn less than those with secondary and post secondary degrees. This not only impacts the immediate quality of life it has long term effects reaching into retirement. Social Security is based on lifetime earned income. With the reduced earning potential of not having a diploma or degree underage drinkers set themselves up for living on a fixed income once they become old or infirm. This is not the only economic impact. A quick look at Rehabilitation Centers shows price ranges from $2,000-$30,000 for a 28 day stay. This does not include continuing aftercare. There are also legal fees for DUIs or Public Intoxication citations, plus bar tabs prior to the cessation of drinking. â€Å"Out of every $100 American consumers spend, about $1 goes to alcohol† (Vo). The average household income is around $50,000 per year, meaning that on average $500 a year is spent on alcohol, for an approximate lifetime average of $35,000. â€Å"In 2007 the death toll from teen drunk driving accidents was 1,393† (Drug Free World). The economic impact of funeral expenses, which on average total around $6,000, is nothing in terms of emotional cost. Many parents who lose a child end up divorcing, tearing apart families in the process. This may also lead to alcohol or other drug abuse in the parents or siblings, resulting in further economic, social, and societal impacts. It’s a vicious cycle and one that could be avoided by continuing to keep the drinking age at the current level. There are numerous warning signs that a minor may have an issue with underage drinking and it is important for those involved in the minor’s life to recognize these to curb an issue before it begins. These include physical, emotional, family, school, and social problems. Parents, teachers, and friends should look for physical signs such as fatigue, red and glazed eyes, or a lasting cough. Emotional indicators include personality changes, sudden mood changes, irritability, irresponsible behavior, low self esteem, poor judgment, and depression. The minor may start more arguments, break more rules and withdraw from their family. There will be a decreased interest in school, drop in grades, increased absences, truancy, and a rise in discipline issues. The minor may show a big social change, with new friends, a change in style of dress, and possible problems with the law. This list is not exhaustive, but from the examples given it shows that underage drinkers have a wealth of issues that will affect them negatively for quite some time. With all of this in mind, I do not feel that lowering the legal drinking age would be in our county’s best interest. The government has these laws in place to keep our country and the people in it safe, and if these laws were to change it would send our country into a downward spiral. I feel that the rates of alcohol induced traffic accidents, rates of violent crimes related to alcohol, rates of certain types of diseases, and much more would upsurge drastically. I also feel that if our government doesn’t address these issues with more force and power, minors will keep doing what they have been doing and nothing will change. Works Cited â€Å"Alcohol Alert. † www. pubs. niaaa. nih. gov/publications/aa38. htm. National Institute on Alcohol Abuse and Alcoholism (NIAAA). N. d. Web. 25 April 2013. â€Å"Drinking Alcohol. † www. breatscancer. org. 18 January 2013. Web. 4 May 2013. â€Å"Drunk Driving in America. † www. maad. org/media-center. Mothers Against Drunk Driving (MAAD). N. d. Web. 25 March 2013. â€Å"Ensuring Solutions to Alcohol Problems. † www. ensuringsolutions. org. N. d. Web. 4 May 2013. â€Å"Minimum Legal Drinking Age. † www. cdc. gov/alcohol/facts-sheets/mlda. htm. Centers for Disease Control and Prevention (CDC). 7 November 2012. Web. 19 March 2013. â€Å"Minimum Legal Drinking Age: Brief History. † www. ama-assn. org. American Medical Association (AMA). N. d. Web. 19 March 2013. Narconon Drug Information Department, ed. â€Å"Alcohol History. † www. narconon.org/drug-information/alcohol-history. Narcanon International. N. d. Web. 25 March 2013. â€Å"Problems at School. † www. alcoholcostcalculator. org. Ensuring Solutions to Alcohol Problems. N. d. Web. 4 May 2013. Reeves, Pat. â€Å"What Alcohol Does to Your Body. † www. foodalive. org/articles/alcohol. htm. Complementary Natural Healthcare Council (CNHC). N. d. Web. 23 March 2013. â€Å"Teenage Drunk Driving. † www. firsteagle. com/tdd. htm. The First Eagle Insurance Services. N. d. Web. 22 April 2013. Vo, L. T. â€Å"What American Spends on Booze. † www. npr. org. National Public Radio. 2013. Web. 4 May 2013.

Essay --

Over one billion people do not have access to clean water and less than 10% of the world’s population receive a treated water supply. I find this intriguing; as well as being essential to preserving life, water contributes to our lifestyle in so many ways, from the generation of steam for industrial use and electricity generation to the foods we eat. Today chemical engineers face the challenge of ensuring water is purified as well as finding solutions to the wasting of this precious resource. I am particularly interested in the process of water purification from subsurface aquifers and surface sources, such as lakes and rivers, to produce portable drinking water. The reason that this sector has sparked a significant interest is because I come from Somalia, a country where clean water is so difficult to obtain. Chemical engineering consolidates maths and chemistry, which is one of the main reasons I was first attracted to studying it. Mathematics has helped me approach problems in an analytical and rigorous way, formulating theories and applying them to solve problems. I particularly...

Enron Case Study

When Sharron Watkins, the former UP of Corporate Development offered to show the problems in counting decisions, Ken Lay, the Chair of the Board refused and said â€Å"He rather not see it†. 2. Regulatory Agencies, SEC and BAS Enron was able to hide their losses behind their ESP. or Special Purpose Entities by omitting an Spec's assets and liabilities from its consolidated financial statements and both SEC and BAS failed to provide formal guidelines for companies to follow in ESP. accounting and reporting.As a result of the minimal legal and accounting guidelines for Esp., Enron along with other companies was able to divert huge amounts of their liabilities and asses to off-balance sheet entities. 3. Management and Accounting team of Enron Both management and accounting team Of Enron manipulated the revenue recognition principle by making vague assumptions that inflated the profits booked on Enron's commodity contracts. There attempt was to keep the stock prices high by showin g inflated financial statements in order to receive high credit ratings and increased lender cash flow into the company. 4.Anderson Accounting Firm The Anderson firm, an independent audit firm failed to provide a more transparent financial statements of Enron. Anderson firm audited the many for 1 5 years where its auditors failed to perform their duties and professional standards of accounting. In fact, Anderson made efforts to restructure Enron's ESP. to continue to qualify as unconsolidated entities once they became aware of Enron's rapidly deteriorating financial condition. Anderson firm was more interested in retaining Enron as their client to provide consulting services hence creating a conflict of interest.Lists three type of consulting services that audit firm have provided to their audit client in recent years. For each item, indicate the specific threats, if any, that the reversion of the given services can pose for an audit firm independence. Auditors independence is consi dered a cornerstone in the accounting profession since they are entrusted by the general public to provide true picture of a company's financial position. It is believed that non-audit services provided by audit firms impair auditors independence to fairly attest the financial statements produced by the client company.Consulting and audit a same firm causes conflict of interest. Anderson firm earned approximately $52 million in fees from Enron in 2000, less than half of which was directly elated to the auditing, rest were for non-audit services. Audit firm may provide many types of consulting services such as: 1. Tax consulting services 2. Accounting system design services 3. Bookkeeping or other related services 4. Financial advice services, including internal audit consulting service. In this highly competitive market, non-audit services have taken precedence over the traditional accounting and auditing services.Even if an audit firm is fairly attesting financial statements and pr ovides honest opinion of a company, its stakeholders and other users may still presume otherwise due o the recent accounting debacles such as Enron and Anderson firm. The additional non-audit services may prove to be a threat to the audit firm's independence. By providing financial advice services for Enron's accounting procedures, Anderson provided them an opportunity to manipulate the reporting and treatment of the Esp..Bookkeeping and following correct accounting procedures are very important components of preparing financial statements. Manipulations of these data are likely to show up when it is audited accurately, and with precision. When the same company repaper and audits the financial statements, it can create conflict of interest just like in this case, where the creators of accounting procedures I. E the management and Anderson team fabricated the financial statements by using complex accounting procedures and loopholes that users could not understand.Any other consulting services such as tax advisory also creates a threat to the independence of the auditing firm, where manipulations are more likely to happen which can hurt the creditability of the audited statements and the auditor's opinion about the company. For purpose of this question, assume that the excerpts from the Power Report shown in Exhibit 3 provide accurate description of Andersen's involvement in Enron accounting and financial reporting decisions. Given this assumption, do you believe that Andersen's involvement in those decisions violated any professional auditing standards?If so, lists those standards and briefly explain your rationale. Arthur Anderson, once known as one of the top accounting firms in nation, was ridiculed and criticized for their questionable accounting and auditing procedures of their client Enron, which ultimately lead to its demise. Their faulty accounting practices shattered investor confidence in auditors throughout the country and made way to Serbians-Solely Act of 2002 and the creation of Public Company Accounting Oversight Board (PEPCO) to oversee the rule-making process for independent audit function.Anderson provided external auditing, internal auditing and consulting services to Enron. They violated several of their professional and ethical standards by accepting large suns in fees and perhaps by looking the other way to the faulty accounting practices contemplated by Enron's management ND giving them an unqualified audit opinion on the financial statements. Andersen earned around $52 million from Enron during 2000, but only $25 million was payment in reference to the 2000 audit. With such an involvement in non-audit services they were not independent of the company, violating the most important standard of auditing.They put their own interest before the interest of the users of their audited financial statements and opinion. From the excerpts it can be concluded that they were deeply involved in the accounting and structuring of the Esp., where they were more interested in electing millions of dollars in fees and failed to provide objective accounting judgment that should have prevented these transactions from going forward. Andersen failed to bring to the attention of Enron internal Audit and Compliance Committee about the serious reservations brought on internally about the related-party transactions, I. . Esp., which clearly shows the violation of professional auditing standards. Anderson firm should have supervised the auditing services provided by its auditors to maintain independence. This lacks of planning and supervision made Anderson to be highly involved in client accounting and financial porting decisions. Anderson had concerns about the disclosures of the related third-party transactions in the financial statement footnotes and instead of pointing those out to the Audit and Compliance Committee they vouched on its accuracy and issued an unqualified opinion on the financial. Enron Case Study Executive Summary: As per requested this group assignment prepared from Group 2 (NASA) contributed by Norazman Saharum , Shaufi Akil , Abd Manaf Jalil and Zubir Zainal Abidin . This group assignment part of final course entitle for 25 marks . This assignment to fulfill our MSU MBA Syllabus for subject Accounting For Corporate and Evaluation (DAC 5013) instructed by Dr Mazlinah Mat Zain . Our group have chosen The Arthur Andersen Troubles. The most famous scandal case Arthur Anderson scandal was involved in was the fraudulent auditing of Enron. In this case Arthur Anderson shredded vital documents sourcing the audit of Enron which occurred in the year 2002. Enron has clearly done some damage to the U. S. economy, but it will not hold up recovery from the current recession. The fundamental health of the U. S. economy is strong and now getting stronger. Some individual new economy companies will have depressed stock prices for some time, but they, too, will recover as they demonstrate that they are prepared to prevent Enron-like behaviour. We do believe Enron will be the morality play of the new economy. It will teach executives and the American public the most important ethics lessons of this decade. We will discuss more information on this issues based on the question given on Arthur Andersen and among them are the conflict of interest between the two roles played by Arthur Andersen, as auditor but also as consultant to Enron; the lack of attention shown by members of the Enron board of directors to the off-books financial entities with which Enron did business; and the lack of truthfulness by management about the health of the company and its business operations. Lastly, we would like to thanks to Dr Mazlinah on her dedicated and helpful to achieve our mission and mission to be a successful entrepreneur for the future. Arthur Andersen case study reminds us the most important ethics lessons of this decade. AMIN. Introduction; Arthur Andersen LLP, based in Chicago, was once one the â€Å"Big Five† accounting firms among Price Water House Coopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG , providing auditing, tax, and consulting services to large corporations. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accounting in the United States after being found guilty of criminal charges relating to the firm’s handling of the auditing of Enron, the energy corporation, resulting in the loss of 85,000 jobs. In this case Arthur Andersen shredded the vital documents sourcing the audit of Enron which occurred in the year 2002 . Although the verdict was subsequently overturned by the Supreme Court of the United States, it has not returned as a viable business. However, how did this company get the reputation that it has while following such a moral slogan? As the clients demanded for more profit margins , Arthur Andersen scandal had to compromise his morality leading to the allegation that he had fraudulently altered the statement of such companies and corporation for example Sunbeam Products, Waste Management Inc. , Asia Pulp and Paper, The Baptist Foundation of Arizona , and WorldCom . Due to the downfall of Arthur Andersen, it lost nearly all of its business and clients. It lost not millions but billions of dollars due to this intense investigation. Although it is still in business and operating under Omega Management and has not as of yet declared bankruptcy, the firm will never reach its past legacy. Arthur Anderson's motto of â€Å"Think straight, talk straight† has forever been tainted in the eyes of Americans corporations. This devastation of fraudulent activity has forever left a deep and painful scar on America’s businesses. . The Arthur Andersen’s Troubles: Question 1: What did Arthur Andersen (AA) contribute to the Enron disaster? The most famous scandal case Arthur Andersen was involved in was the fraudulent auditing of Enron. In this case Arthur Andersen shredded vital documents sourcing the audit of Enron which occurred in the year 2002. According to Watkin, a financial executive who worked with Andrew Fastow told Enron CEO Kenneth Lay she feared that Enron would â€Å"implode in a wave of accounting audit scandal â€Å" (1: USA Today, Wed, Jan 16, 2002) AA apparent mistakes may have been made for several reasons to the Enron disaster including: †¢ Incompetence , as displayed and admitted in the rhythms case . Judgement errors; . as to the significants of each of the audit findings, or of the aggregate impact in any fiscal year. †¢ Lack of information caused by Enron staff not providing critical information, or failure on the part of AA personal to search it out . †¢ Time pressures :related to revenue generations and budget pressures that prevented adequate audit work and the full considera tions of complex SPE and prepay financial arrangements . †¢ Desire not to confront Enron management or advise the Enron board in order not to upset management, and particularly fastow, Skilling and Lay Lack of Independence. The Board of Directors failed to ensure the independence of the company auditor , allowing AA to provide internal audit and consulting services while serving the Enron outside auditors . †¢ A failure of AA’s internal policies whereby the concerns of a quality control or practice standards partner can and was overruled by the audit partner in charge of the Enron account. AA was the only one of the Big 5 accounting forms to have this flaw and it left the entire firm vulnerable to the decisions of the person with the most to lose by saying no to a client. A misunderstanding of the fiduciary role required by auditors . for example AA allowing Enron to engage in high risk accounting , inappropriate conflict of interest transactions, extensive undisclo sed off-the-books activities and excessive executive compensation . Given this â€Å"tone at the top’. It is reasonable to assume that AA partners were going to be motivated by revenue generations. But if too many risks are taken in the pursuit of revenue the probability of a series of audit problems leading to increasingly unfavorable consequences becomes greater . That is exactly what happened to Enron disaster. Unfortunately, the leaders of AA failed to recognize the cumulative degree to which the public, the politicians, and the SEC (The Securities and Exchange Commission) were angered by the progression of AA audit failures . Question 2: What Arthur Andersen (AA) decision were faulty? Arthur Andersen (AA) decision were faulty . This is the ‘ Enron Debacle† section presented previously covers in detail many of the questionable accounting transactions, legal structures, and related disclosures that AA reviewed as auditors of and consultants to Enron. AA faulty may have been made for several reason , including: †¢ AA apparently approved as auditors and consultants (and collected fees for the consulting advice) the structure of many special purpose entities (SPEs) that were used to generate false profits, hide losses, and keep financing off Enron’s consolidated financial statements , failed to meet the required outsiders 3 percent equity at risk, and decision control criteria for non consolidation . AA failed to recognize the generally accepted accounting principle (GAAP) that prohibits the recording of shares issued as an increase in shareholders’ equity unless they are issued for cash . †¢ AA did not advise Enron’s audit committee that Andrew Fastow, Enron’s CFO and his helpers were involved in significant conflict of interest situations without adequate alternative means of managing these conflicts. †¢ AA did not advise the Enron audit committee that Enron’s policies and internal control were not adequate to protect the shareholders’ interests even though AA had assumed Enron’s internal audit functions . Many transactions between Enron and the SPEs were not in the interest of Enron shareholders since: a) Enron profits and cash flow were manipulated and grossly inflated, misleading investors and falsely boosting management bonus arrangements. b) Extraordinarily overgenerous deals, fees, and liquidation arrangements were made by Fastow, or under his influence, with SPEs owned to Fastow , his family, and Kopper, who was also as employee of Enron . AA aparently did not adequately consider, the advice of its quality control partner, Carl Bass. He asked AA for an accounting change that would have resulted in a $30 – $50 million charge to Enron’s earnings. †¢ AA apparently did not find significant audit evidence, or did not act upon evidence found, related to the: 1)Mistaken valuation of shares or share rights transferred to SPEs 2 )Side deals between Enron and banks removing the bank’s risk from transactions such as the : a) Chewco SPE Rhythms hedge. ) Numerous prepay deals for energy futures, even though AA made a presentations to Enron on the GAAP and AA requirements that preclude such arrangements. Questions 3: What was the prime motivation behind the decision of Arthur Andersen’s audit partners on the Enron, WorldCom, Waste Management the public interest or†¦? Cite examples that reveal this motivation . The AA was motivated by greed instead of serving the public interest. The amount of money they got from the consulting fee has compromised their auditing works. In 1997, client Waste Management Inc. had the largest earnings restatement to date, wiping out $1. 7 billion in profits that it pulled in through the 1990s. The lead auditor on Waste Management was Robert Allgyer, who was known inside the firm as â€Å"the Rainmaker† for his success in cross-selling extra services to auditing clients. He was clearly successful at selling to Waste Management, which paid $17. 8 million in fees unrelated to the audit between 1991 and 1997, against audit fees of $7. 5 million. But he was also signing off on drastically inaccurate books. Among other things, the fast-growing trash hauler wasn't properly writing off the value of assets such as garbage trucks as they aged, a ruse that pumped up reported profits. The SEC's acting commissioner, Laura Unger, concluded that the agency had the â€Å"smoking gun† it was looking for to prove that the lure of consulting fees compromised auditor independence. The SEC filed suit in March 2002, accusing six former Waste Management executives of fraud. It alleges that Mr. Allgyer's judgment was skewed by consulting fees, in particular a $3. 7 million â€Å"strategic overview† of Waste Management operations. The project lasted for 11 months, but the client didn't adopt the recommendations. Bellow table shown example AA’s involvements in the major financial scandals as the audit firm that failed to discover their mistakes that reveal this motivation: |CLIENT |PROBLEM MISSED, DATE |LOSSES TO SHAREHOLDERS |JOB LOSSES |AA FINE | |WorldCom |$4. billion overstatement of |4179. 3 Million |17,000 |N. A | | |earnings announced on June 25,| | | | | |2002 | | | | | | | | | | | |Inflation of ncome, asset, | | | | | |etc bankrupt Dec 2, 2001 | | | | |Enron | |$66. 4 Billion |6,100 |$. 5 Million | | |Overstatement of income by | | |(for shredding) | | |$1. billion, 1992-1996 | | | | | | | | |$7 Million | | | | | | | |Waste Management | |420. 5 Billion |11,000 | | Question 7: Under what circumstances should audit firm shred or destroy working paper ? According to section 802 of the Sarbanes-Oxley Act of 2002, accountants who audit or review an issuer's financial statements are required to retain certain records relevant to that audit or review. These records include workpapers and other documents that form the basis of the audit or review, and memoranda, correspondence, communications, other documents, and records (including electronic records), which are created, sent or received in connection with the audit or review, and contain conclusions, opinions, analyses, or financial data related to the audit or review. To coordinate with forthcoming auditing standards concerning the retention of audit documentation, the rule requires that these records be retained for seven years after the auditor concludes the audit or review of the financial statements. Refer to the above question, for example if we as a professional audit firm can’t simply shred or destroy working paper. How long to keep a document, when and how to store the document, and how to dispose of the document, will depend on the type of document . As any internal auditor knows, there are numerous types of documents that may be accumulated as part f an audit or review. The final rule here requires the retention of all records relevant to the audit, including working papers and other documents that form the basis of the audited financial statements, as well as certain supporting documents. The guideline for document retention is that they must meet two criteria: (1) Documents are created, sent, or received in connection with the a udit or review, (2) the documents contain conclusions, opinions, analyses, or financial data related to the audit or review. Both Enron and Arthur Andersen are now gone, but this audit work-paper clean-up exercise, no doubt, was a major motivating factor for the Sarbanes-Oxley Act , Section 802 rules outlining penalties for the destruction of documents. The rules require external auditors who audit or review an enterprise's financial statements to retain certain records relevant to that work, including work papers and other documents that form the basis of the audit or review. These retention requirements include memoranda, correspondence, communications, other documents, and records, as well as related electronic records that are created, sent, or received in connection with the audit work and contain conclusions, opinions, analyses, or financial data related to the work. These records are to be retained for seven years after the auditor concludes the financial statements review. This rule was nothing new for many internal auditors as many audit functions have followed similar document retention rules based on U. S. tax document retention guidelines. The rules also states that if you know your company is under investigation, or even suspect that it might be, all document destruction and alteration must stop immediately. And, you must create a company records showing that you’ve ordered a halt to all automatic e-data destruction practices. Question 8: Answer the â€Å"Lingering Question† on page 94 . Enron has clearly done some damage to the U. S. economy, but it will not hold up recovery from the current recession. The fundamental health of the U. S. economy is strong and now getting stronger. I do believe Enron will be the morality play of the new economy. It will teach executives and the American public the most important ethics lessons of this decade. Among these lessons are: 1. You make money in the new economy in the same ways you make money in the old economy – by providing goods or services that have real value. 2. Financial cleverness is no substitute for a good corporate strategy. . The arrogance of corporate executives who claim they are the best and the brightest, â€Å"the most innovative,† and who present themselves as superstars should be a â€Å"red flag† for investors, directors and the public. 4. Executives who are paid too much can think they are above the rules and can be tempted to cut ethical corners to retain their wealth and perquisites. 5. Government regulations and rules need to be updated for the new economy, not relaxed and eliminated. Due to the downfall of Arthur Anderson, it lost nearly all of its business ,employees, and clients. It lost not millions but billions of dollars due to this intense investigation. Although it is still in business and operating under Omega Management and has not as of yet declared bankruptcy, the firm will never reach its past legacy. We believe accounting regulations should be altered to prohibit ownership of both auditing and consulting services by the same accounting firm. Accounting firms are already moving to sever their consulting businesses. The SEC should probably adopt additional disclosure requirements. Various regulators should tighten requirements for directors to be alert and provide protections for whistleblowers who bring improper behaviour to public attention. But, in the final analysis, the solution to an Enron-type scandal lies in the attentiveness of directors and in the truthfulness and integrity of executives. Clever individuals will always find ways to conceal information or to engage in fraud. Enron Case Study Executive Summary: As per requested this group assignment prepared from Group 2 (NASA) contributed by Norazman Saharum , Shaufi Akil , Abd Manaf Jalil and Zubir Zainal Abidin . This group assignment part of final course entitle for 25 marks . This assignment to fulfill our MSU MBA Syllabus for subject Accounting For Corporate and Evaluation (DAC 5013) instructed by Dr Mazlinah Mat Zain . Our group have chosen The Arthur Andersen Troubles. The most famous scandal case Arthur Anderson scandal was involved in was the fraudulent auditing of Enron. In this case Arthur Anderson shredded vital documents sourcing the audit of Enron which occurred in the year 2002. Enron has clearly done some damage to the U. S. economy, but it will not hold up recovery from the current recession. The fundamental health of the U. S. economy is strong and now getting stronger. Some individual new economy companies will have depressed stock prices for some time, but they, too, will recover as they demonstrate that they are prepared to prevent Enron-like behaviour. We do believe Enron will be the morality play of the new economy. It will teach executives and the American public the most important ethics lessons of this decade. We will discuss more information on this issues based on the question given on Arthur Andersen and among them are the conflict of interest between the two roles played by Arthur Andersen, as auditor but also as consultant to Enron; the lack of attention shown by members of the Enron board of directors to the off-books financial entities with which Enron did business; and the lack of truthfulness by management about the health of the company and its business operations. Lastly, we would like to thanks to Dr Mazlinah on her dedicated and helpful to achieve our mission and mission to be a successful entrepreneur for the future. Arthur Andersen case study reminds us the most important ethics lessons of this decade. AMIN. Introduction; Arthur Andersen LLP, based in Chicago, was once one the â€Å"Big Five† accounting firms among Price Water House Coopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG , providing auditing, tax, and consulting services to large corporations. In 2002, the firm voluntarily surrendered its licenses to practice as Certified Public Accounting in the United States after being found guilty of criminal charges relating to the firm’s handling of the auditing of Enron, the energy corporation, resulting in the loss of 85,000 jobs. In this case Arthur Andersen shredded the vital documents sourcing the audit of Enron which occurred in the year 2002 . Although the verdict was subsequently overturned by the Supreme Court of the United States, it has not returned as a viable business. However, how did this company get the reputation that it has while following such a moral slogan? As the clients demanded for more profit margins , Arthur Andersen scandal had to compromise his morality leading to the allegation that he had fraudulently altered the statement of such companies and corporation for example Sunbeam Products, Waste Management Inc. , Asia Pulp and Paper, The Baptist Foundation of Arizona , and WorldCom . Due to the downfall of Arthur Andersen, it lost nearly all of its business and clients. It lost not millions but billions of dollars due to this intense investigation. Although it is still in business and operating under Omega Management and has not as of yet declared bankruptcy, the firm will never reach its past legacy. Arthur Anderson's motto of â€Å"Think straight, talk straight† has forever been tainted in the eyes of Americans corporations. This devastation of fraudulent activity has forever left a deep and painful scar on America’s businesses. . The Arthur Andersen’s Troubles: Question 1: What did Arthur Andersen (AA) contribute to the Enron disaster? The most famous scandal case Arthur Andersen was involved in was the fraudulent auditing of Enron. In this case Arthur Andersen shredded vital documents sourcing the audit of Enron which occurred in the year 2002. According to Watkin, a financial executive who worked with Andrew Fastow told Enron CEO Kenneth Lay she feared that Enron would â€Å"implode in a wave of accounting audit scandal â€Å" (1: USA Today, Wed, Jan 16, 2002) AA apparent mistakes may have been made for several reasons to the Enron disaster including: †¢ Incompetence , as displayed and admitted in the rhythms case . Judgement errors; . as to the significants of each of the audit findings, or of the aggregate impact in any fiscal year. †¢ Lack of information caused by Enron staff not providing critical information, or failure on the part of AA personal to search it out . †¢ Time pressures :related to revenue generations and budget pressures that prevented adequate audit work and the full considera tions of complex SPE and prepay financial arrangements . †¢ Desire not to confront Enron management or advise the Enron board in order not to upset management, and particularly fastow, Skilling and Lay Lack of Independence. The Board of Directors failed to ensure the independence of the company auditor , allowing AA to provide internal audit and consulting services while serving the Enron outside auditors . †¢ A failure of AA’s internal policies whereby the concerns of a quality control or practice standards partner can and was overruled by the audit partner in charge of the Enron account. AA was the only one of the Big 5 accounting forms to have this flaw and it left the entire firm vulnerable to the decisions of the person with the most to lose by saying no to a client. A misunderstanding of the fiduciary role required by auditors . for example AA allowing Enron to engage in high risk accounting , inappropriate conflict of interest transactions, extensive undisclo sed off-the-books activities and excessive executive compensation . Given this â€Å"tone at the top’. It is reasonable to assume that AA partners were going to be motivated by revenue generations. But if too many risks are taken in the pursuit of revenue the probability of a series of audit problems leading to increasingly unfavorable consequences becomes greater . That is exactly what happened to Enron disaster. Unfortunately, the leaders of AA failed to recognize the cumulative degree to which the public, the politicians, and the SEC (The Securities and Exchange Commission) were angered by the progression of AA audit failures . Question 2: What Arthur Andersen (AA) decision were faulty? Arthur Andersen (AA) decision were faulty . This is the ‘ Enron Debacle† section presented previously covers in detail many of the questionable accounting transactions, legal structures, and related disclosures that AA reviewed as auditors of and consultants to Enron. AA faulty may have been made for several reason , including: †¢ AA apparently approved as auditors and consultants (and collected fees for the consulting advice) the structure of many special purpose entities (SPEs) that were used to generate false profits, hide losses, and keep financing off Enron’s consolidated financial statements , failed to meet the required outsiders 3 percent equity at risk, and decision control criteria for non consolidation . AA failed to recognize the generally accepted accounting principle (GAAP) that prohibits the recording of shares issued as an increase in shareholders’ equity unless they are issued for cash . †¢ AA did not advise Enron’s audit committee that Andrew Fastow, Enron’s CFO and his helpers were involved in significant conflict of interest situations without adequate alternative means of managing these conflicts. †¢ AA did not advise the Enron audit committee that Enron’s policies and internal control were not adequate to protect the shareholders’ interests even though AA had assumed Enron’s internal audit functions . Many transactions between Enron and the SPEs were not in the interest of Enron shareholders since: a) Enron profits and cash flow were manipulated and grossly inflated, misleading investors and falsely boosting management bonus arrangements. b) Extraordinarily overgenerous deals, fees, and liquidation arrangements were made by Fastow, or under his influence, with SPEs owned to Fastow , his family, and Kopper, who was also as employee of Enron . AA aparently did not adequately consider, the advice of its quality control partner, Carl Bass. He asked AA for an accounting change that would have resulted in a $30 – $50 million charge to Enron’s earnings. †¢ AA apparently did not find significant audit evidence, or did not act upon evidence found, related to the: 1)Mistaken valuation of shares or share rights transferred to SPEs 2 )Side deals between Enron and banks removing the bank’s risk from transactions such as the : a) Chewco SPE Rhythms hedge. ) Numerous prepay deals for energy futures, even though AA made a presentations to Enron on the GAAP and AA requirements that preclude such arrangements. Questions 3: What was the prime motivation behind the decision of Arthur Andersen’s audit partners on the Enron, WorldCom, Waste Management the public interest or†¦? Cite examples that reveal this motivation . The AA was motivated by greed instead of serving the public interest. The amount of money they got from the consulting fee has compromised their auditing works. In 1997, client Waste Management Inc. had the largest earnings restatement to date, wiping out $1. 7 billion in profits that it pulled in through the 1990s. The lead auditor on Waste Management was Robert Allgyer, who was known inside the firm as â€Å"the Rainmaker† for his success in cross-selling extra services to auditing clients. He was clearly successful at selling to Waste Management, which paid $17. 8 million in fees unrelated to the audit between 1991 and 1997, against audit fees of $7. 5 million. But he was also signing off on drastically inaccurate books. Among other things, the fast-growing trash hauler wasn't properly writing off the value of assets such as garbage trucks as they aged, a ruse that pumped up reported profits. The SEC's acting commissioner, Laura Unger, concluded that the agency had the â€Å"smoking gun† it was looking for to prove that the lure of consulting fees compromised auditor independence. The SEC filed suit in March 2002, accusing six former Waste Management executives of fraud. It alleges that Mr. Allgyer's judgment was skewed by consulting fees, in particular a $3. 7 million â€Å"strategic overview† of Waste Management operations. The project lasted for 11 months, but the client didn't adopt the recommendations. Bellow table shown example AA’s involvements in the major financial scandals as the audit firm that failed to discover their mistakes that reveal this motivation: |CLIENT |PROBLEM MISSED, DATE |LOSSES TO SHAREHOLDERS |JOB LOSSES |AA FINE | |WorldCom |$4. billion overstatement of |4179. 3 Million |17,000 |N. A | | |earnings announced on June 25,| | | | | |2002 | | | | | | | | | | | |Inflation of ncome, asset, | | | | | |etc bankrupt Dec 2, 2001 | | | | |Enron | |$66. 4 Billion |6,100 |$. 5 Million | | |Overstatement of income by | | |(for shredding) | | |$1. billion, 1992-1996 | | | | | | | | |$7 Million | | | | | | | |Waste Management | |420. 5 Billion |11,000 | | Question 7: Under what circumstances should audit firm shred or destroy working paper ? According to section 802 of the Sarbanes-Oxley Act of 2002, accountants who audit or review an issuer's financial statements are required to retain certain records relevant to that audit or review. These records include workpapers and other documents that form the basis of the audit or review, and memoranda, correspondence, communications, other documents, and records (including electronic records), which are created, sent or received in connection with the audit or review, and contain conclusions, opinions, analyses, or financial data related to the audit or review. To coordinate with forthcoming auditing standards concerning the retention of audit documentation, the rule requires that these records be retained for seven years after the auditor concludes the audit or review of the financial statements. Refer to the above question, for example if we as a professional audit firm can’t simply shred or destroy working paper. How long to keep a document, when and how to store the document, and how to dispose of the document, will depend on the type of document . As any internal auditor knows, there are numerous types of documents that may be accumulated as part f an audit or review. The final rule here requires the retention of all records relevant to the audit, including working papers and other documents that form the basis of the audited financial statements, as well as certain supporting documents. The guideline for document retention is that they must meet two criteria: (1) Documents are created, sent, or received in connection with the a udit or review, (2) the documents contain conclusions, opinions, analyses, or financial data related to the audit or review. Both Enron and Arthur Andersen are now gone, but this audit work-paper clean-up exercise, no doubt, was a major motivating factor for the Sarbanes-Oxley Act , Section 802 rules outlining penalties for the destruction of documents. The rules require external auditors who audit or review an enterprise's financial statements to retain certain records relevant to that work, including work papers and other documents that form the basis of the audit or review. These retention requirements include memoranda, correspondence, communications, other documents, and records, as well as related electronic records that are created, sent, or received in connection with the audit work and contain conclusions, opinions, analyses, or financial data related to the work. These records are to be retained for seven years after the auditor concludes the financial statements review. This rule was nothing new for many internal auditors as many audit functions have followed similar document retention rules based on U. S. tax document retention guidelines. The rules also states that if you know your company is under investigation, or even suspect that it might be, all document destruction and alteration must stop immediately. And, you must create a company records showing that you’ve ordered a halt to all automatic e-data destruction practices. Question 8: Answer the â€Å"Lingering Question† on page 94 . Enron has clearly done some damage to the U. S. economy, but it will not hold up recovery from the current recession. The fundamental health of the U. S. economy is strong and now getting stronger. I do believe Enron will be the morality play of the new economy. It will teach executives and the American public the most important ethics lessons of this decade. Among these lessons are: 1. You make money in the new economy in the same ways you make money in the old economy – by providing goods or services that have real value. 2. Financial cleverness is no substitute for a good corporate strategy. . The arrogance of corporate executives who claim they are the best and the brightest, â€Å"the most innovative,† and who present themselves as superstars should be a â€Å"red flag† for investors, directors and the public. 4. Executives who are paid too much can think they are above the rules and can be tempted to cut ethical corners to retain their wealth and perquisites. 5. Government regulations and rules need to be updated for the new economy, not relaxed and eliminated. Due to the downfall of Arthur Anderson, it lost nearly all of its business ,employees, and clients. It lost not millions but billions of dollars due to this intense investigation. Although it is still in business and operating under Omega Management and has not as of yet declared bankruptcy, the firm will never reach its past legacy. We believe accounting regulations should be altered to prohibit ownership of both auditing and consulting services by the same accounting firm. Accounting firms are already moving to sever their consulting businesses. The SEC should probably adopt additional disclosure requirements. Various regulators should tighten requirements for directors to be alert and provide protections for whistleblowers who bring improper behaviour to public attention. But, in the final analysis, the solution to an Enron-type scandal lies in the attentiveness of directors and in the truthfulness and integrity of executives. Clever individuals will always find ways to conceal information or to engage in fraud.

Education in my Preschool Classroom Essay

There have been many theories that have played a part in the foundation of early childhood education. It has been these theories that have changed the way teachers educate their students. Creating an environment that contributes to learning is key to the student’s success. I feel it is the social communication between students, their peers and the teacher that determines a successful school experience. I feel that effective communication is a fundamental component to my educational philosophy. As a result, I feel that Vygotsky’s Socioculture Theory most closely represents my own philosophy. Vygotsky felt that â€Å"children learn social interaction. They acquire cognitive skills as part of their induction into a way of life. Shared activities help children internalize their society’s modes of thinking and behaving and those folkways their own† (Papalia, Olds, & Feldman, 2008). My education philosophy is to produce the best most achievable learning experience for all students in my classroom. Lev Semenovich Vygotsky developed Vygotsky’s Socioculture Theory. In this approach to teaching Vygotsky believed that â€Å"children’s mental, language, and social development is supported by and enhanced through social interaction (Morrison, 2009). According to Vygotsky the development a child has is concentrated on the communication they have with people around them in a social environment. One of the most important aspects of Vygotsky’s Theory is the zone of proximal development (ZPD). The ZPD is the area of development that is too difficult for the student to achieve by themselves. It is necessary to recruit assistance from another person. The help can come from a teacher, another adult, or even a classmate (Morrison, 2009). Vgotsky’s Sociocultural Theory gives students the opportunity to develop their strengths socially while facilitating cognitive growth and development. I plan to incorporate many of Vgotsky’s theories in my preschool classroom, such as; scaffolding and the zone of proximal development. Using scaffolding, teachers can help students continue to achieve in the areas of development that are too difficult for them to accomplish alone. When a preschooler is able to master a task, the scaffolding can be faded out. In my preschool classroom I want students to build on their own strengths so they can become more independent learners, both academically and socially. Physical and Motor Development involve active learning and how a child uses his or her body. Locomotion is the part of motor development that involves children learning to run, jump, hop and dance. Preschool children like to take part in fine-motor activities as well, such as coloring, drawing, and painting. Teacher’s that incorporate both physical and fine motor activities in their daily lessons will encourage physical and motor development for each child. o Activity – Body Parts †¢ Children are encouraged to move different body parts to music. As the teacher calls out a body part each child must wiggle and dance around emphasizing that particular part of the body. The teacher can also change this activity to encourage students to move to the meaning of words. For example, stretch your arms up high, bend down and touch your toes, crawl like a baby or jump like a kangaroo, the possibilities are endless. o Activity – Sticker Fun †¢ Children love stickers, for this activity give each student a variety of stickers that are a variety of colors and sheets of paper that are the primary colors. Instruct students to peel off the sticker and place the sticker on the matching sheet of paper. †¢ Children can also work at the Art table. The table would be supplied with crayons, glue, scissors, markers and paper. In Cognitive Development most preschool children are in the preoperational stage of intelligence. Their ability to use symbols and their language skills are developing and improving. Preparing hands on activities are fantastic to assist the preschool child in the area of cognitive development. o Activity- Sink or Float †¢ The teacher would need to gather several items like ping pong balls, straws, small beach ball, rocks, paper clips and toy cars and fill the sensory table with water. The teacher would hold up several items and ask the students what they are and whether they think the item would sink or float. The teacher would call on students to drop items into the water, the class would see if the item sinks or floats. After the experiment ends the students could graph what items floated and what items sunk to the bottom. o Activity- Swamp Sort †¢ The teacher would need a small supply of small and large plastic alligators, as well as two bins one for the large alligators and one for the small ones. She would also need the sensory table filled with water and sand. The teacher would explain to the class that they were going on an adventure to find alligators. Some of the alligators would be small (she would hold one up) and some alligators would be large (again she would show the class). The class would take turns using a net to scoop out alligators and then they would have to sort them into the assigned bins. Social-Emotional development is a very important part in the development of a preschool child. The social and emotional part of development in a preschool program prepares students for success throughout their time in school, as well as, the rest of their life. Social-Emotional development can be encouraged in the classroom through social interaction, exploration and experiments. o Activity-Smelling Jars †¢ Have children play a sorting game. Before class the teacher would fill empty jars with several items that have strong aromas. For example, the teacher could fill the jars with items like fruity smell-orange, floral-rose petals, and spices-cinnamon and/or garlic. The students would be blindfolded as they try to identify the smells. After the children have examined all the aromas they would have to sort and graph the smells into two categories the ones they liked and the ones they did not like. o Activity-We Are Thinking †¢ The teacher explains to the class that they are going to play a game that requires them listen, look and think. The teacher goes on to explain that in this game she will think of different classmates and give clues to reveal their identity. For example, she could say I am thinking of a friend who has blond hair and is wearing a red shirt. The students will have to look, listen and think to identify their friends. â€Å"Language skills grow and develop rapidly during the preschool years† (Morrison, 2009). Reading to and with other children is a great way to encourage language development. Children begin to learn and have the capacity to become beginning readers as their language skills improve. o Story Time †¢ Including story time in the preschool classroom is a wonderful way to encourage language skills. Imagination can make the typical story time new and different. The teacher chooses an appropriate book and then reads it to the class. She pauses throughout the book allowing the children to tell her what they think would happen next. After the story is over the children can role play and dress up and act out the story. o Sight Word Treasure Hunt †¢ Preschool children can use sight words to increase their vocabulary and build emerging skills for reading. The teacher tells her students they are going to play a game today and that at the end of the game they are going to find a treasure. Before the game the teacher would have to hide a small â€Å"treasure† box filled with whatever she chooses (enough for each student to have one). The teacher would also have to place cards with different words around the room. The teacher would explain to the children that they would take turns reading each site word and then finding it in the classroom. On the back of each card would be the next sight word to find. The students would choose a student to go next until all students had a turn the last student would find the treasure that they would share with the class. The student would be encouraged to ask other students for help if needed. This game could be easily adapted to be more of a competition the teacher could form teams and declare a winner, although, all children would still receive a â€Å"treasure†. The first formal assessment I would be sure to include in my preschool classroom would the High/Scope educational approach. The â€Å"High/Scope approach provides broad, realistic educational geared to children’s current stages of development. To promote the constructive processes of learning necessary to broaden emerging intellectual and social skills† (Morrison, 2009). The High/Scope Observation assesses six broad categories; initiative, social relations, creative relations, creative representation, music and movement, language and literacy, and mathematics and science (Morrison, 2009). The High/Scope can help preschool teachers create an environment that is conductive to learning by supporting the five essential elements; classroom arrangement, active learning, the daily schedule, assessments and curriculum. The second formal assessment that I would incorporate into my classroom would be Brigance K&1 Screen II. This assessment only requires ten to fifteen minutes per child and is used on children entering kindergarten and first grade (Morrison, 2009). Children who were getting ready to leave preschool would benefit from this assessment as it would measure the child’s skill level. I could then pass this information on to the next teacher along with my own personal observations. My favorite type of informal observation is the portfolio. This form of assessment allows the teacher to collect samples of the student’s work over a period of time and then determine the child’s strengths and weaknesses. Teachers are able to track a child’s development for a specific period of time that they determine. The child’s progress can be tracked weekly, monthly, or through quarterly assessments. The second kind of informal observation that I will be sure to include would be the Interview. This allows children to explain different behaviors, papers they have worked on and individual answers that the student may have given to questions. Engaging children in discussion can only benefit all involved teachers and peers alike. It is important to keep the lines of communication open between teachers, students and their parents. Students need to feel that they can speak up and ask questions about anything that will help them be successful students. The curriculum in my preschool classroom would include literacy. Time each day would be set aside for Alphabet knowledge, this would let students know that letters have names and shapes and that letters represent sounds in our language (Morrison, 2009). Phonics would also be used on a daily basis. Time be would assigned for reading decodable books. Children would learn to read using their phonic knowledge along with content clues such as pictures. Mathematical curriculums are an important part in the preschool classroom as well. Math plays a very prominent role in the preschool classroom today (Morrison, 2009). Children in my preschool classroom will engage in many different activities. For example; sorting, counting, experiments and observations. Mathematics can also be incorporated into the time spent in the computer lab by playing math games. Preschool children are hands on learners so the use of manipulatives would be encouraged. The best classroom environment would persuade children to â€Å"engage in personal, meaningful educational experiences. In addition, the classroom contains three or more interest areas that encourage choice† (Morrison, 2009). †¢ The classroom should be organized so all children can find the supplies needed to be successful. This will also promote independence. †¢ The classroom floor plan should support classroom programs as well as help to implement programs. For example the Art Center should have the necessary supplies stored near the art table. The reading center should have a supply of books and chairs placed there. †¢ The ideal environment would also include an area for small and large group (circle time) instruction. †¢ An adequate space for storage would be needed. The items would have to be labeled in such a way that the children would know where to return them to keep the classroom neat and orderly. †¢ The ideal environment would include a classroom where children feel safe and protected. School should be a place where children are free to learn without fear of being bullying. There are many different preschool programs available today. They all offer programs that use philosophies, theories and concepts to try to meet the needs of preschool aged children. There are many things that promote relevant learning but one of the most important in my opinion is social interaction. It is because of that belief I feel that Vygotsky’s Sociocultural Theory and the High/Scopes Approach to learning is the most effective method for learning in the preschool classroom. The most important thing is to make the classroom a place where each child is given the opportunity to learn in a fun and effective manner, always putting our students first. References Morrison, G. (2009). Early childhood education today. (11th ed. ). Upper Saddle River, New Jersey: Pearson Education, Inc. Papalia, D. , Wendkos Olds, S. , & Duskin Feldman, R. (2008). A child’s world: infancy through adolescence. (11th ed. ) Boston: McGraw-Hill.

Learn German Sentence Structure

Learn German Sentence Structure Knowing when to use the dative and accusative in a German sentence is a major hurdle for many students. Equally as important is the sentence structure when using the accusative and dative cases. Compared to English, there are more options, depending on your word choice. For instance, Im giving the mouse to the cat translates to Ich gebe die Maus zur Katze. (Maus is in the accusative, Katze is in the dative.) If you struggle with remembering which prepositions are dative or accusative, heres some good news. In some cases, like this one, you can omit the preposition altogether and still clearly express the intention of the sentence by using proper noun cases and word order.   German Sentence Structure Without the preposition zur (zu der), you would write the sentence as follows:Ich gebe der Katze die Maus. (Katze is dative, Maus is accusative.)Or with a pronoun:Ich gebe ihr die Maus. ( Ihr  is dative, Maus is accusative.)Ich gebe sie der Katze. (sie is  accusative, Katze is  dative.)Keep the following rules in mind when positioning your dative and accusative objects in a sentence: The dative object will always come before the accusative object.If the accusative object is a pronoun, it will always be before the dative object. Applying these rules with the correct grammatical case endings is essential. It will help avoid misconstrued sentences, such as Ich gebe der Maus die Katze. Unless, of course, you really did mean to say that you wanted to give the cat to the mouse. A few more examples:   Gib dem Hasen die Karotte.  (Give the bunny the carrot.)   Gib ihr die Karotte.  (Give her the carrot.)   Gib es ihr. (Give it to her.) Refresher on German Noun Cases Before even worrying about the order of a sentence, make sure you know your noun cases. Heres a rundown on the four German noun cases.

Choosing the Most Effective Learning Environment

Choosing the Most Effective Learning Environment There are several alternatives available when it comes to the type of education that a child can receive. Parents today have more choices than ever. The primary factor that parents have to weigh is the overall setting that they want their child to be educated in. It is also important for parents to examine the individual needs and make up of the child and the financial state they are in when deciding which learning environment is the right fit. There are five essential options when it comes to education a child. Those include public schools, private schools, charter schools, homeschooling, virtual/online schools. Each of these options provides a unique setting and learning environment. There are pros and cons of each these choices. However it is important that parents understand that no matter which option they provide for their child, they are the most important people when it comes to the quality of education their child receives. Success is not defined by the type of schooling you received as a young person. Each of the five options has developed a lot of people who were successful. The key factors in determining the quality of education a child receives is the value that their parents place on education and the time they spend working with them at home. You can put almost any child in any learning environment and if they have those two things, they are typically going to be successful. Likewise, children who do not have parents that value education or work with them at home have odds that are stacked against them. This is not to say that a child cannot overcome these odds. Intrinsic motivation plays a major factor too and a child that is motivated to learn will learn no matter how much their parents do or do not value education. The overall learning environment does play a role in the quality of education a child receives. It is important to note that the best learning environment for one child may not be the best learning environment for another. It is also important to remember that the importance of the learning environment decreases as parental involvement in education increases. Each potential learning environment can be effective. It is important to look at all the options and make the best decision for you and your child. Public Schools More parents choose public schools as their child’s option to education than all of the other options. There are two primary reasons for this. First public schooling is free and many people cannot afford to pay for their child’s education. The other reason is that it is convenient. Every community has a public school that is easily accessible and within reasonable driving distance. So what makes a public school effective? The truth is that it isn’t effective for everyone. More students will end up dropping out of public schools than they will any of the other options. This doesn’t mean that they don’t offer an effective learning environment. Most public schools provide students who want it with terrific learning opportunities and provide them with a quality education. The sad reality is that public schools receive more students than any other option who don’t value education and who do not want to be there. This can take away from the overall effectiveness of public education because those students typically become distractions who interfere with learning. The overall effectiveness of the learning environment in public schools is also affected by the individual state funding allotted to education. Class size is particularly affected by state funding. As class size increases, the overall effectiveness does decrease. Good teachers can overcome this challenge and there are many excellent teachers in public education. The educational standards and assessments developed by each individual state also impact a public school’s effectiveness. As it stands right now, public education amongst the states are not created equally. However the development and implementation of the Common Core State Standards will remedy this situation. Public schools provide students who want it with a quality education. The main problem with public education is that the ratio of students who want to learn and those who are only there because they are required are much closer than those in the other options. The United States is the only education system in the world that accepts every student. This will always be a limiting factor for public schools. Private Schools The biggest limiting factor concerning private schools is that they are expensive. Some provide scholarship opportunities, but the truth is that most Americans simply cannot afford to send their child to a private school. Private schools typically have a religious affiliation. This makes them ideal for parents who want their children to receive a balanced education between traditional academics and core religious values. Private schools also have the ability to control their enrollment. This not only limits class size which maximizes effectiveness, it also minimizes students who will be distractions because they don’t want to be there. Most parents who can afford to send their children to private schools value education which translates to their children valuing education. Private schools are not governed by the state laws or standards that public schools are. They can create their own standards and accountability standards which are usually tied to their overall goals and agenda. This can strengthen or weaken a school’s overall effectiveness depending on how rigorous those standards are. Charter Schools Charter schools are public schools that receive public funding, but are not governed by many of the state laws concerning education that other public schools are. Charter schools typically focus on specific subject area such as mathematics or science and provide rigorous content that exceed state expectations in those areas. Even though they are public schools they are not accessible to everyone. Most charter schools have limited enrollment which students must apply for and be accepted to attend. Many charter schools have a waiting list of students who want to attend. Charter schools are not for everyone. Students who have struggled academically in other settings will likely fall even further behind in a charter school as the content can be difficult and rigorous. Students who value education and want to earn scholarships and further their education would benefit from charter schools and the challenge that they present. Homeschooling Homeschooling is an option for those children who have a parent that does not work outside the home. This option allows a parent to be in total control of their child’s education. Parents can incorporate religious values into their child’s daily education and are usually better attuned to their child’s individual educational needs. The sad truth about homeschooling is that there are many parents who try to home school their child that are simply not qualified. In this case, it deeply impacts a child negatively and they fall behind their peers. This is not a good situation to put a child in as they will have to work extremely hard to ever catch up. While the intentions are likely good, the parent should realistically have an understanding of what their child needs to learn and how to teach them. For those parents who are qualified, homeschooling can be a positive experience. It can create an endearing bond between the child and the parent. Socialization can be a negative, but parents who want to can find plenty of opportunities through activities such as sports, church, dance, martial arts, etc. for their child to socialize with other children their age. Virtual/Online Schools The newest and hottest educational trend is virtual/online schools. This type of schooling allows students to receive public education and instruction from the comfort of home through the Internet. The availability of virtual/online schools has exploded over the past few years. This can be a terrific option for children who struggle in a traditional learning environment, need more one on one instruction, or have other issues such as pregnancy, medical issues, etc. Two major limiting factors can include the lack of socialization and then need for self motivation. Much like homeschooling, students need some socialization with peers and parents can easily provide these opportunities for children. Students also have to be motivated to stay on schedule with virtual/online schooling. This can be difficult if a parent is not there to keep you on task and to ensure that you complete your lessons on time.

How People Dress Affects Their Lives Essay Example | Topics and Well Written Essays - 1750 words

How People Dress Affects Their Lives - Essay Example Despite my abilities, characteristics or beliefs as a person, it is the first judgment which individuals see which causes them to place me in a category and to create expectations surrounding my belief system. This is not only recognized with high society comments and belief systems, but the judgments are now being taught to children. There are several personal examples which I can associate with that relate to the fashion statements I make directly affecting my place in life. One is when I went to a job interview to work for a small business. The business was a clothing store that only had been functioning for two years and which needed an individual to design the clothes. When I was called for the interview, I was told that I had a good chance of being able to join the team and help with the growth of the company. However, I made the mistake of dressing casually in jeans and in a t-shirt. Even though there wasn’t a dress code which was taken, the employer immediately told me that I wasn’t fit for the job because I didn’t look professional. The judgment that was made was based on the belief that my casual appearance also meant that I didn’t take the time to prepare for the interview and that I wasn’t taking the job seriously enough. ... The concept which is associated with dress is one that is based on the accepted beliefs of fashion judgments. My personal scenario is one of several cases related to fashion judgment, which indicates that one’s self worth is dependent on what they wear. This extends into a sociological problem that is now taught with deeper significance within society. Sociologists, cultural historians and moralists have all attributed the problems with judgments and stereotypes as one based with a specific part of an individual which looks in a certain way. This is the basis of racial forms of division, stereotypes, prejudice, gender differences and biases and other problems with generalized identities which create divisions among individuals within society. The concept of creating a judgment over one’s identity becomes the main question, specifically because it is an expected part of society. This is followed by the belief that each individual needs to be involved with fashion for cre ating a specific identity. Vieria, a marketing specialist in fashion states: â€Å"In the last decades, the market is feeling that the consumers are monitoring more in their fashion environment. In this context, fashion clothing appears to become so important that many people are becoming involved in it as an identity† (Vieria, 179). The concept of involvement leads to one judging themselves and others. It has been found that these judgments are now reaching into age as well as a rise in commitment to creating value of life through the judgments of fashion and the new styles and trends which are apparent within society (Vieria, 179). The concept of fashion judgment isn’t one that is just accepted within society and the roles it takes.

Stem Cell Research Legislation Paper Example | Topics and Well Written Essays - 1250 words - 1

Stem Cell Legislation - Research Paper Example It is hoped that such cells can be developed to replace dysfunctional cells in conditions like spinal cord injury, Parkinson’s, Alzheimer’s, diabetes, and various other medical conditions. A look into the American stem cell research legislations proves that the country needs to make such laws regarding patents and intellectual rights to ensure that the government and the federally funded researchers have access to stem cells. In addition, there should be clear government guidelines regarding the agreement between patent holders and researchers. The advancements in research were not free from ethical issues and legal disputes. As reported by National Bioethics Advisory Commission (1999) this is mainly so because the sources for stem cells are one week old embryos called blastocysts which are usually created through in vitro fertilization to treat infertility, five to nine week old embryos of fetuses obtained through elective abortion, embryos created through in vitro fer tilization for research purposes, embryos created through cloning or somatic cell nuclear transfer, and finally, adult tissues like umbilical cord blood and marrow. The controversy almost entirely surrounds taking stem cells from human embryos and fetuses because the process destroys them. Admittedly, the American administration has always been open to the ethical concerns surrounding embryo research. Throughout history, the government did not provide any funding to support researches on stem cells from human embryos. So, the federal law rightly prohibited the HHS from funding any such research. In the year 1994, President Bill Clinton issued an executive directive to the NIH that it should not allocate funds to develop human embryos for research purposes. Two years later, in 1996, there was a legislative ban on NIH’s spending on stem cell research from human embryos. Thereafter, every year, the government passed such a ban. As Wertz (2002, p. 674-678) points out, according t o the ban, federal funds could not be used for the development of human embryos for research purposes where human embryo is destroyed, discarded, or knowingly subjected to risk of injury or death. However, as the Wisconsin scientists successfully grew embryonic stem cells into specialized cells, there arose increased demand from NIH to again look into the governmental ban on stem cell research from embryos and fetus. The opinion of the HHS’ General Counsel was that the existing law that only prohibited the use of HHS funds for human embryo research would not ban research on stem cells because stem cells are not within the legal definition of human embryo. According to the definition provided, embryo is an organism that is capable of developing into a full human being when implanted in the uterus. It is claimed that the pluripotent stem cells are not able to grow into a human being. Thus, the opinion reached was that HHS could fund such stem cell researches that manage to get the stem cells from embryos using private means. The restriction only applied to those researches that want to derive stem cells from embryos using federal funds. Though there was congressional opposition, NIH made it clear that it would support stem cell research once it managed to issue guidelines and to establish an oversight committee. Thus, the NIH guidelines appeared in August 2000 that made it clear that researches using pluripotent stem cells from human embryos can be conducted using NIH funds. However the condition was that the stem