Henry George and Andrew Carnegie Free Essay Example, 1500 words

Henry George believed that poverty is being caused because the rich people are becoming richer every passing day. He gives an example of labor and rich people altogether to prove his point in the book that he had written. A rich individual can possibly inherit monetary goods from his lineage which can be easily served in terms of a good and healthy life whereas a poor individual would not inherit anything and would be serving as a laborer. In the same context, he believes that if this laborer stops working then the rich individual cannot survive at all (Henry 43). In totality, Henry tries to prove that the wealthy do not deserve being rich as they are not contributing enough to the people who are poor. Henry George believed that poverty is being caused because the rich people are becoming richer every passing day. He gives an example of labor and rich people altogether to prove his point in the book that he had written. A rich individual can possibly inherit monetary goods from his lineage which can be easily served in terms of a good and healthy life whereas a poor individual would not inherit anything and would be serving as a laborer. We will write a custom essay sample on Henry George and Andrew Carnegie or any topic specifically for you Only $17.96 $11.86/page He emphasizes that in order to eliminate inequality from the world it is necessary that strict measures are taken in accordance with the distribution of wealth. He states that we must make land common property (Henry 180). By this, he means that a general value tax should be imposed on land and not on the production/texture of the land. He indirectly believed that wealth should be distributed in such a way that everyone benefits from it. On the other hand, Andrew Carnegie was also an important character in history who had his own views regarding wealth and inequality.

Over The Course Of American History, The Electoral College

Over the course of American history, the electoral college has frequently been a controversial portion of the American political system, especially in with the recent election of Donald Trump over Hillary Clinton. Clinton lost the election, despite winning the popular vote by roughly three million votes. This election’s outcome although unique in its politics, isn’t at all rare within U.S. Political History, winning the election without the popular vote previously occurred four times. Recently, this has sparked notable discussion of the abolition of the electoral college, a move that would greatly benefit American politics. While some would argue the foundation of the college are sound, the actual origins are actually erroneous, and†¦show more content†¦When the direct election of a national leader was first posed at a national convention in Philadelphia, the father of the Constitution, James Madison denied the request. He said in his justification, â€Å"The right of suffrage was much more diffusive in the Northern than the Southern States; and the latter could have no influence in the election on the score of Negroes.† In plain language if a direct democracy was put in place, the North would outnumber the South, because slaves, who were roughly half of the South couldn’t vote. Though the electoral college, allowed for southern states to count its forty percent of their slaves, in the calculation of its population, hence its electors. Essentially, the electoral college is a dated, non-functional system designed for a time in the United States where owning another human was acceptable. On this merit alone the college must go. In addition to the argument of the electoral college being justified in existence on dated principle, it isShow MoreRelatedThe Electoral College Is A Democracy1012 Words   |  5 Pagesgovernment? For example, the Electoral College is used when selecting the president of The United States, but the founders developed the Electoral College based on a theory of how it should work with no practical, real-world example of how it realistically works. Based on the three core principles of democracy which are popular sovereignty, political equality, and political freedom, the Electoral College falls short when assessed using these democratic values. The Electoral College provides people with aRead MoreThe Electoral College Then, Now, and Tomorrow Essay1553 Words   |  7 PagesThe Electoral College Then, Now, and Tomorrow The Electoral College system has been in place for over 200 years and Americans are still not sure how it works or if it is the best system. Many Americans feel they go to the polls every year and vote for the president, and in the long run they are in control of the fate of our executive branch. With the 1992 election it was clear that many people had little understanding for how a president is chosen; the 1992 election came close to having noRead MoreLeave it Alone Essay1181 Words   |  5 PagesAt its inception, the Electoral system of voting for the president of the United States was the best solution for a rather complicated problem. The problem was in selecting the method to choose the person who would hold the highest office in the new land. When faced with the decision of what format to use to elect the president and vice president of the United States, the founders of the Constitution finally decided that the electoral voting system was the best way for every Americanâ₠¬â„¢s voice toRead MorePersuasive Speech : The Electoral College1202 Words   |  5 Pagesthe audience to agree that the Electoral College should be abolished. Thesis: The Electoral College is unfair and should be abolished because of the â€Å"winner takes all rule,† the chance that a president cannot have the support of the majority of the voters, and candidates would campaign equally in every state. I. Introduction a. Hello everybody, today I am going to talk about a topic that could change the course of American History forever. b. The Electoral College is the process in which electorsRead MoreThe Electoral College System Essay1495 Words   |  6 PagesIn the Electoral College system, as presented by Hamilton, every voice is heard and there is a greater guarantee that the elected will effectively represents those voices in office. During election season, the people in the states vote for the representatives that will make up the Electoral College. The people within the states will votes for the prudent few that they believe best conform to their political interests, just as they do for those voted into the House of Representatives. As a resultRead MoreThe Political System And The United Kingdom Essay1597 Words   |  7 Pagesof what is known as the Electoral College. The Electoral College is a process that was created by the founding fathers, written in the Constitution. Not only is it a compromise made between the election of the President by a vote in Congress, but also the election of the President due to popular vote of eligible citizens. In total, there are 538 electors that make up the Electoral College. However, for the President to be elected there is a required majority of 270 electoral votes that need to be wonRead MoreThe Electoral College: An Outdated and Flawed System1203 Words   |  5 PagesThe infrastructure of American government, as set forth by the Constitution, has been subject to multiple changes and adaptations over the course of history. These additions and changes, however, are uncommon and only occur when an unavoidable and potentially crippling problem arises. The process of amending the Constitution can be likened to the restoration process of a historical house; even though changes are made to allow for the building to be functional in current times, the main essenceRead MoreAmerica Is Responsible For Transcending The Way Government Functions859 Words   |  4 PagesAmerica is responsible for transcending the way government functions. The idea that peo ple have certain inalienable rights that are God given was revolutionary thinking for the era of the founding fathers. There have been many instances throughout American history where we have failed to live up to the founding principles from the Declaration of Independence, of: life, liberty, and the pursuit of happiness— for all our citizens— but we have also had many moments of inspiration in being trailblazers forRead MoreIn Recorded History There Have Been Five Instances Where1899 Words   |  8 PagesIn recorded history there have been five instances where the United States has elected a President that did not achieve the office by popular vote, rather these politicians were elected by the system that our founding fathers enacted known as the Electoral College. This system was made to protect the people, and never to confront the very democracy that makes America the great country we all know and love. The Electoral College in recent years, has not lived up to th e expectations that the FoundingRead MoreAmerica Is Not A Democracy1592 Words   |  7 Pagesfounding fathers built the foundation of America on their ideological belief that the country should be a republic and that all mankind are created equally. However, over the years, America has gained the title as a democratic nation and the status quo of America being considered â€Å"the majority rule.† The present state of affairs of the American government proves to be incorrect because the United States is not a democracy. The United States has limited citizens to participate equally on various occasions

Sarbanes-Oxley Act Acc 403- Auditing Free Essays

SARBANES-OXLEY ACT ACC 403- AUDITING PROFESSOR August 19, 2012 The Sarbanes-Oxley Act was placed into effect July 2002; the act introduced major changes to the regulation of corporate governance and financial practice. The Sarbanes-Oxley Act was named after Senator Paul Sarbanes and Representative Michael Oxley, who were the main architects that set a number of non-negotiable deadlines for compliance. The organization for Economic Cooperation and Development was one of the first non- government organizations to spell out the principles that should govern the corporate and issued the OECD Principles of Corporate Governance. We will write a custom essay sample on Sarbanes-Oxley Act Acc 403- Auditing or any similar topic only for you Order Now The Sarbanes Oxley Act also known as Public Company Accounting Reform and Information Protection Act and Corporate and Auditing Accountability and Responsibility Act. It is a federal law that set various principles for all the U. S. companies to detect and evade fraud. It detects the scandals in the securities markets when the share prices of securities are affected. The act requires the Securities and Exchange Commission to implement rulings on requirements to comply with the law. It created a new agency called Public Company Accounting Oversight Board which regulates, oversees and inspects the role of auditors of public companies. The act covers auditor’s independence, corporate governance, internal control assessment and financial disclosures. The Sarbanes–Oxley contains 11 titles that describe specific mandates and requirements for financial reporting. Each title consists of several sections, which are the following below: I. Public Company Accounting Oversight Board (PCAOB): provides independent oversight of public accounting firms providing audit services and creates a central oversight board tasked with registering auditors. II. Auditors Independence: establishes standards for external auditor independence to limit conflicts of interest and states new auditor approval requirements, audit partner rotation, and auditor reporting requirements. III. Corporate Responsibility: mandates that senior executives take  individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. IV. Enhanced Financial Disclosure: describes enhanced reporting requirements for financial transactions, including off-balance-sheet transactions, pro-forma figures and stock transactions of corporate officers. It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. V. Analyst Conflict of Interest: includes measures designed to help restore investor confidence in the reporting of securities analysts. It defines the codes of conduct for securities analysts and requires disclosure of knowable conflicts of interest. VI. Commission Resources and Authority: defines practices to restore investor confidence in securities analysts, and defines the SEC’s authority to censure or bar securities professionals from practice and defines conditions under which a person can be barred from practicing as a broker, advisor, or dealer. VII. Studies and Reports: requires the Comptroller General and the SEC to perform various studies and report their findings. Studies and reports include the effects of consolidation of public accounting firms, the role of credit rating agencies in the operation of securities markets, securities violations and enforcement actions. VIII. Corporate and Criminal Fraud Responsibility: It describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers. IX. White Collar Crime Penalty Enhancement: It recommends stronger sentencing guidelines and specifically adds failure to certify corporate financial reports as a criminal offense. X. Corporate Tax Returns: Section 1001 states that the Chief Executive Officer should sign the company tax return. XI. Corporate Fraud Responsibility: It identifies corporate fraud and records tampering as criminal offenses and joins those offenses to specific penalties. It also revises sentencing guidelines and strengthens their penalties. Prior to Sarbanes Oxley act, auditing firms were self regulatory. It may happen several times that challenging the counts of the companies damage the relationship with the clients. The frauds of the companies cannot be detected easily. There are many risks associated with the auditing report since it will not be able to report the actual position of the companies. The Sarbanes Oxley act states that it shall be unlawful to contravenes the provisions of the commission because it is not in the public interest or it is unprotected for investors, for any other person to take any action to fraudulently influence, manipulate, coerce and mislead any independent person in the performance of preparing the audit report of the financial statements of any concern. The most important aspect in the financial statement is to follow and regulate the internal control system of the organization. This is the most important point in this act as it detects that the internal control system of the corporations is sound or not. It wants to report about the internal control system of the organization so that the actual picture of the organization can be reflected easily in front of the members of the companies and the investors. Since the main motto of Sarbanes Oxley act is to protect the investors it has to report about the internal weakness and strengths of the companies to give a true picture of the company. It requires management to report the following points: * The operating effectiveness of internal control related to the significant accounts which affects the materiality of the account or from which the material misstatement risks can be occurred. * The flow of transactions so that it should be understood that whether there is any material misstatement could arise or not. * Evaluate the control of the company to record the components of COSO framework. * Perform the fraud r isk assessment of the organizations. * Evaluate the control performance to detect and evade the errors. * Evaluate the control performance to detect and evade the fraud. Evaluate the work of the management to ensure that whether they consider the basic elements like objectivity, competency and risks. * Evaluate the internal control over financial reporting. * Evaluate the size and complexity of the company. The findings of Sarbanes Oxley act incorporate a code of Best Practices on Director’s Remuneration. The four main issues which were dealt with as follows: * The role of Remuneration Committee in setting the remuneration packages for the CEO and other directors. * The required level of isclosure needed to shareholders regarding details of director’s remuneration and whether there is the need to obtain shareholder approval. * Specific guidelines for determining a remuneration policy for directors and * Service contracts and provisions binding the Company to pay compen sation to a director, particularly in the event of dismissal for unsatisfactory performance. The important recommendation was the establishment of Remuneration Committee of Non- Executive Directors which would be responsible for deciding the remuneration of executive directors. The majority of the recommendations of the committee were incorporated in the Listing Rules of the London Stock Exchange. The principles of corporate governance are evolved as under: * Sustainable development of all the stakeholders- it ensures the growth of all the individuals associated with or effected by the enterprise on sustainable basis. * Effective management and distribution of wealth- it ensures that enterprise creates maximum wealth and judiciously uses the wealth so created for providing maximum benefits to all the stakeholders and enhancing its wealth creation capabilities to maintain sustainability. Discharge of social responsibility- it ensures that enterprise is acceptable to the society in which it is functioning. * Application of best management practices- it ensures excellence in functioning of enterprise and optimum creation of wealth on sustainable basis. * Compliance of law in letter and spirit- it ensures value enhancement for all stakeholders guaranteed by the law for maintaining socio-economic balance. * Adherence to ethical standards—it ensures integrity, transparency, independence and accountability in dealings with all stakeholders. The Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises has issued Guidelines on Corporate Governance for Central Public Sector Enterprises. For the purpose of evolving Guidelines on corporate governance, Central Public Sector Enterprises have been categorized into two groups, namely – 1. Those listed in the stock exchange and 2. Those not listed in the stock exchange. Some claim that the financial activities of publicly traded companies are still severely nder-regulated while others hold that SOX was necessary, but that some of its requirements are not cost-effective which I believe will change over time. Reference * Arens, A. , Elder, R. J. , Beasley, M. (2010). ACCT 403: Auditing and assurance services: 2010 custom edition (14th ed. ). Upper Saddle River, NJ: Pearson Education. * http://www. soxlaw. com/ * http://searchcio. techtarget. com/definition/Sarbanes-Oxley-Act * http://www. sec. gov/about/laws. shtml * http://www. sec. gov/news/te stimony/090903tswhd. htm * http://www. sox-online. com/basics. html How to cite Sarbanes-Oxley Act Acc 403- Auditing, Essay examples

Case Analysis free essay sample

Strategic Human Resource Management Unit 1 What is Strategic Management, and why is it critical to the success of an organization in meeting its goals and mission? Strategic management is setting priorities and goals within a business. It’s used with upper management to strengthen a company and prepare for future outcomes. Making a product that is highly profitable and easy for customers to use and benefit from is the main focus of Apple, Inc. The organization of Apple, Inc. started in the 1970’s and has been very profitable since. In 1978 they sold the Apple II and made billions of dollars from the product in less than three years. Between 1983 and 1984 Apple, Inc. lost sales and have fell into a crisis because of the slow processor speed and the compatible software. During this time it was hard for the organization due to competition. The problem Apple Inc. was facing at this time is other companies have found easier and faster ways for people to use the different products other than Apple, Inc. (1) Engineering: The SIMBA program was designed to fundamentally change the product architecture and the design process; it reduced the number of modules in use and lowered project cost throughout the value chain. 2) Supply Chain: The TQM and ACE empowered employees to identify and solve problems while at the same time practicing continuous improvement. Otis streamlined manufacturing operations and reorganized to be a new single supply chain and logistics management function. (3) Sales and Field Operations: The SIP program gathered best practice from around Otis and made these into standard processes across the whole organization. (4) e*Logistics: This initiative provided IT systems to facilitate business processes re-engineering that was taking place throughout the company. It became the mean for connecting sales, factory, and field operations through the Web. All of these IT tools were servicing the whole strategy of Otis turning form a manufacturer into a recognized leader in service excellence. Every initiatives adopted in each department were not very comprehensive but truly optimized the work processes and improved innovation, quality, cost and speed. Maybe the above factors led to Otis’s success in 2004. 3. An Otis manager states that â€Å"with the e*Logistics program, best practice from SIP are baked into the organization and institutionalized to achieve continuous transformation. How do the systems that comprise the e*Logistics program bake in an institutionalized best practice? To achieve continuous transformation, the e*Logistics program makes sure the business process change sticks by adopting every key processes and corresponding elements. (1)Project Proposal: This new process solidified ommitment for the estimates and enhanced the cooperation between sales and filed-installation function by requiring the practices derived from SIP. Also, the processes such as gathering account information were changed into automated and data integrated after the e*Logistics program was launched. 2)Sales Processing: The e*Logistics program automated all the workflow of the sales activities in SIP and electronically circulated key documents to all the appropriate supervisory personnel. It helped manage lead time, reduce inventory levels and eliminate waste throughout the value chain as well as record changes in supply chain. (3)Order Fulfillment: The creation of CLCs helped Otis shifting form. It handled all logistics and information flows between subsystem integrators (SSIs) and integrated all of the processes such as selling and servicing products. 4)Field Installation: With the e*Logistics program, all the involved parties were asked to focus on managing to a delivery date based upon ideal site conditions. This allowed SIP to maintain lean manufacturing flows and low inventory levels. (5)Closing Activities:It helped to generat e more accurate billing of changing orders,higher conversion of new equipment to maintain contracts, and faster collections. All the new processes in selling, ordering, and shipping of the e*Logistics helped to bake best SIP practice into the organization.