WorldCom an Example by

WorldCom The recent incidents of fraud by respected organizations have brought the issue of organizational ethics especially ethics with respect to data misuse into the focus. WorldCom, a telecom giant, was one of those organizations which used fraudulent accounting practices to show a false picture of its financial position and profitability. Need essay sample on "WorldCom" topic? We will write a custom essay sample specifically for you Proceed The misuse of data by WorldCom WorldCom misused its data to support its decisions for personal gains. The data was misused primarily in two ways: Underrating costs by capitalizing these costs on the balance sheet rather than properly expensing them (bit by bit). These sorts of problems often occur with Financial Institutions when they capitalize costs under the accounting head of Non Performing Loans in the Balance Sheet, however, if it is reported in the balance sheet without proper disclosure, this may create a whimsical in the mind of investor (Cooper, 2004). Inflating revenues with bogus accounting entries from corporate unallocated revenue accounts and this problem is in relation with improper revenue recognition technique. The results of fraudulent practices by WorldCom As a result of its unethical practices, several acquisitions were overvalued. Consequently, profit of $10 billion was shown instead of actual huge losses of around $70 billion for year 2000 through 2002 (Cooper, 2004). All this was done to show an inflated price of its stock. Subsequently, when the fraud was uncovered, the fallout of WorldCom began which impacted not only its stockholders but also its competitors and the telecom industry as a whole. Limitations and significance of the data The accounting practices practiced by WorldCom used the US GAAP, which works on the basis of rules based accounting, conflicting with International Accounting Standards (IAS) and UK GAAP, which takes a "principles-based" approach. Although, accounting practices can be tweaked around to fit the needs of the organization, there are limitations that keeps it difficult to have gross misuse of data (Cooper, 2004). These limitations include bookkeeping controls, review of revision to entries before they are actually made, and approval of changes by internal and possibly external auditors that exceed cumulative thresholds (Belson, 2005). Data was of enormous significance in the case of WorldCom. The tweaks in accounting practices and the concealment of the real picture of the data enabled WorldCom to continue its practices for years and consequently show inflated profitability and shrunken expenses. Ethical implications WorldComs misuse of data was ethically wrong. The fraudulent practices were committed by some of its top executives using creative accounting to cover their losses. Ethical wrongdoings for personal gains by some of its executives lead to its demise and sent shockwaves in the whole telecom industry (Belson, 2005). Leaders set the moral tone of their organizations. And when leaders do not perform their moral duties, the organization surely suffers. Without serving the interests of its stockholders, WorldComs case indicates how lack of ethical concerns can seriously damage the organization itself and its stakeholders and become a menace to the industry. References Moberg, Dennis J. (2006). Ethics Blindspots in Organizations: How Systematic Errors in Person Perception Undermine Moral Agency. Organizational Studies 27, 3: 413-428. Cooper, Cynthia (2004). Cynthia Cooper: WorldCom Whistle Blower. Retrieved August 8, 2008, from Nationwide Speakers Bureau, Inc. Belson, Ken WorldCom's Audacious Failure and Its Toll on an Industry. (2005, Jan 18 ). The New York Times, p. C1.

The eNotes Blog Food for Thought 10 Symbolic Dishes from ClassicNovels

Food for Thought 10 Symbolic Dishes from ClassicNovels Food makes everything better. Using it as a motif, or repetitive symbol, in literature makes reading all the more delicious. Who would  not wish to take a bite out of   Madame Bovary’s ultra-chav wedding’s Savoy cake, or know for themselves exactly how bad that gruel was in Oliver Twist. Check these ten famous literature munchies and see why they make great food†¦for thought! 1. Cucumber Sandwiches Featured in:  The Importance of Being Earnest by Oscar Wilde Oscar Wildes 1895 play The Importance of Being Earnest opens in a glamorous West London bachelors pad belonging to the dandy Algernon Moncrieff.   Ã¢â‚¬Å"Algy asks his butler to prepare cucumber sandwiches for his aristocratic aunt, Lady Bracknell. Algy’s best friend Ernest asks, â€Å"Why cucumber sandwiches? Why such reckless extravagance in one so young?† The issue concludes with Algy’s mindless eating of all of his aunts sandwiches prior to her arrival, only to claim to her later that there were no cucumbers in the market even for ready money. So why are cucumber sandwiches considered extravagant? Although cucumbers originated in India over 4,000 years ago it was not until Queen Victorias appointment as Empress of India in 1877 that the influence of the national products, such as the cucumber, fully entered the British culture. Once the sandwiches hit the royal table for the first time, the upper and middle classes caught wind of it and made them their signature afternoon tea snack. Following the very Victorian tradition of imitating everything that the Queen did, these once-dubbed beautiful people solidified the connection between the cucumber sandwich and â€Å"poshness. 2. Eggs   Featured In: Angela’s Ashes by Frank McCourt In Frank McCourt’s 1987 Nobel prize-winning memoir Angela’s Ashes, the egg symbolizes hope, wishes, and indulgence. This guileless motif is juxtaposed to the dire living conditions of the Irish Catholic McCourt family. Young Frank tells us in chapter IX that he has plans for â€Å"that egg† that he would get the Sunday after his father gets the first paycheck from his new job.   The plan: To â€Å"tap it around the top, gently crack the shell, lift with a spoon, a dab of butter down into the yolk, salt, take my time, a dip of the spoon, scoop, more salt, more butter, [and] into the mouth†. Yummo! Eggs are described with particular candor, as they represent a luxury that the McCourts, with their never-ending financial woes, could hardly afford. Sadly, no one gets any eggs. Malachy, Frank’s father, ends up squandering all of his paychecks, leaving his family to fall deeper into their cavernous money hole. But lady luck helps Frank once he leaves Ireland and reaches America: he gets to work at a restaurant, and hunger is no longer an issue for him! After hunger is satiated in the novel, food becomes a motif for American excesses, complete with dreams of a jumbo shrimp chasing Mrs. Angela McCourt down the street. The novel is not about food, but you get the idea. 3. â€Å"The† Savoy Cake Featured In: Madame Bovary by Gustave Flaubert A true representative of Flaubert’s style Madame Bovary is a bona fide example of Romanticism. Fast forward to chapter 4 (part 1) and witness the deeply bucolic wedding of Charles and Emme Bovary. The entire chapter is an epicurean dream featuring â€Å"four sirloins, six chicken fricassees, stewed veal, three legs of mutton, and in the middle a fine roast suckling pig, flanked by four chitterlings with sorrel†. Yet, nothing beats the towering Savoy Cake proudly displayed at table. A monster of excess and tackiness, the cake foreshadows Emme’s future state of mind: the hunger for extravagance that will doom her life until the end. Flaubert describes it as a â€Å"dungeon† that was â€Å"surrounded by many fortifications in candied angelica, almonds, raisins, and †¦ oranges†. There is more, my friends: â€Å"†¦on the upper platform a green field with rocks set in lakes of jam, nutshell boats, and a small Cupid balancing himself in a chocolate †¦ real roses for balls at the top†. It will not be the last time in the novel that Flaubert chuckles at the tastes of his country folk. The historical Savoy cake was created in the court of the Prussian empire. It is traced back to court chef Felix Urbain-Dubois, who introduced Russian cuisine to France in 1869. It seems that the Russian court was pretty eccentric, for this sort of dessert was everyday business. The recipe calls for 4lbs of castor sugar, orange sugar, egg yolks, and a pinch of salt. Add regular flour, potato flour, frothy egg whites and you got yourself a batter. The cake is to be baked in three separate parts for over 1 hour using molds greased with kidney fat. This means that the Savoy cake is not only heavy in flavor, but also in texture, weight and, surely, calories: perfect elements for a sumptuous wedding cake. 4. Macaroons Featured In: A Doll’s House by Henrik Ibsen Ibsen’s most controversial play, A Doll’s House unveils the deep issues of a 19th century woman who, unbeknownst to her, begrudgingly accepts to embody the epitome of the virtuous Victorian wife. As early as the first scene, it is obvious that Nora’s biggest issue is her domineering husband, Torvald, who is annoying in a passive-aggressive way. He constantly questions Nora on whether she is secretly grazing macaroons: â€Å"Hasnt Miss Sweet Tooth been breaking rules in town today?† and he scolds her for doing so. However, Nora does not control her love for macaroons. Sometimes it seems as if she eats them on purpose. So, what exactly was Nora eating? A macaroon cookie is made of flour, coconut, vanilla, and sugar. Their history goes back to the reign of Henri II, husband of Catherine of Medici right at the height of the Renaissance period in 1533. Back then, these treats resembled the modern day biscotti; hard and easy to preserve, but still quite a rich snack for steady consumption. At 140 calories for two little ones, macaroons may have endangered Nora’s reign as â€Å"doll† if she really ate as many as the play indicates. According to it, Nora would eat them at any time, for she presumably carried them around all day, hidden from Torvald. This concealment and secret indulgence make macaroons a motif that clearly reflects the quiet yet fiery rebellion that lurks within Nora. They also represent Nora’s many other secrets and confessions, her frustration, and her angst†¦ all the things which she has hidden from Torvald all through their marriage under the guise of domest ic happiness. 5. Gruel Featured In: Oliver Twist by Charles Dickens Chapter 2 of Oliver Twist describes the shocking reaction caused by Oliver’s famous line â€Å"Please, Sir, I want some more† when asking for a second helping of the workhouse gruel. The dish personifies the extremes of poverty. Gruel is the lifeline of the poor: a weak, tasteless, ugly, gritty lifeline. Such is the reality of which Dickens wanted to make the world aware. The members of the workhouses board contracted with a corn-factor to supply periodically small quantities of oatmeal; and issued three meals of thin gruel a day, with an onion twice a week, and half a roll on Sundays. A mix of hot water, salt, and sop from grains, gruel can be made of millet, rice, or flour. The thinner the gruel, the more watery it would be, hence, the half a roll mentioned in the workhouse contract comes in handy. While Oliver Twist creates awareness for the poor in England during the earlier part of the 19th century, the conditions of the workhouse may not have been as radical as the novel describes. According to the 1835 dietary charts from the Abingdon workhouse, the English Poor Laws suggested six different meal combination samples to feed the growing number of men, women and children entering the workhouse force. In 1834, as cited by the historical Workhouse.org, all of Brightons workhouses, over 300 of them, were serving three meals per day with no limitation in quantity. This is not to say that the workhouse was a good place to be. Jack Londons 1903 book People of the Abyss describes all the miseries in the Londons East End slum district, including suicide attempts made by people who would have rather died than be sent to the workhouse. 6. The Woman Cake Featured In: The  Edible Woman by Margaret Atwood Think 1969.   Margaret Atwood, a leading Canadian figure in the woman’s equality proto-movement gave the world Edible Woman right at the formation of the women’s rights movement. In chapter 30 of the novel, main character Marian has a feminist freak-out because she does not want to get married (she is engaged) nor does she desire to have children. Her role models were all unhappy married women, and her job prospects were awful. As a result, the woman mentally imploded. First, she began to refuse food, as she compared eating with what women go through when our personas are eaten away by marriage. Then, she started getting difficult with her dial-tone boyfriend, Peter. Finally, she decided to to bake a cake molded like a woman; a symbol of herself about to get consumed by society. The cake is described as a sponge cake, completely home- made from scratch, frosted with pink, and brown icing, and one white section. The face was made of candies and bits. She divided the cake into two to make the upper and bottom, and made a head, arms, and legs. She tried bits and pieces of the cake, but the plan was to make Peter eat it. The idea behind the crazy experiment was to envision what her life will be after marriage: Peter will end up consuming her just like the cake, and she will no longer be herself anymore. This proto-feminine novel hashes out all kinds of women issues to include hysteria, dissatisfaction, sex, man-hatin’, slacker mothers, eating disorders, and food. LOTS of it. Everywhere. 7. Bread Featured In: Hansel and Gretel by the Brothers Grimm Published in 1821, this German fairytale is about a brother and sister who are thrown out of their home because there is no food to feed them. Lost in the forest, the children use breadcrumbs mark their way around the forest for them to be able to return. However, the birds eat the crumbs, leaving them scared and vulnerable in the forest.   Shortly after, the children are lured by the delicious smell of baking bread and end up entering a candy-covered gingerbread house, where a sweet old lady who offers them all the goodies that they could not get at home first treats them like guests. In reality, she was feeding them well in order to eat them, for the old lady was no sweet little thing: she was a witch! Bread means sustenance. In the story, it also symbolizes the universal need for it; the birds ate it, and now the smell of bread is luring them to yet another place. The oven, which produces the smell of bread that lures them in, also serves as the ultimate symbol of justice. The children are able to throw the witch in the burning oven and run away from her.   Overall it is safe to say that carbohydrates, period, are the motif in the story. Candy, gingerbread, sugar, all of that jazz is at the center of the action and embodies the main idea: if it looks too good to be true, it surely is. 8. Chocolate   Featured In: The Chocolate War by Robert Cormier This young adult novel published in 1974 occupies the THIRD position in the American Library Association Top 100 Banned and Challenged Books from 2000-2009. The language is thought to be too mature for young adult literature. Nevertheless, chocolate is the anchor of the novel, mainly regarding our rebellious hero, Jerry Renault. The boy who goes head-on against his school’s head master’s chocolate sale, he comes out as a perfect tragic hero: he is lonely, he is 14, he wants a girlfriend, he wants to make a statement, and he may actually be a bit ahead of his peers in terms of emotional intelligence. The most important symbolism involving chocolate is the death of Jerry’s mom a few months into the story. Her death has seriously affected him, and, at some poignant moment, he chooses to agree to the selling of last season’s Mother’s Day chocolates as long as the â€Å"Mother’s Day† label is ripped off the box. If that is not a statement for grief, what else could it be? The motif of chocolate is not only representative of the macro management of the headmasters, the economic framework of the school, or the sense of team competition. The motif also reaches a deeper meaning that makes chocolate symbolize intense humanity: the need for nurturing, the lack of comfort, the hunger for success, and the need to feel loved in some way or form. 9. More Chocolate Featured In: Chocolat by Joanne Harris The Chocolate War redux? Perhaps. A decadent and charming story  set in the small French village of Reynauld (a-ha! Coincidence, or is this a variant of the name of the main character of The Chocolate War?) the novel is about the enigmatic single mom Vienne and her daughter, who come from out of town to set up a chocolate shop where the town’s old bakery once stood. The motif of chocolate elicits the long-lost pleasures of the village. It reminds the villagers of life’s delights while enticing them to the unthinkable possibility of â€Å"letting themselves go.† The bulk of the story is set during the Easter season, because during this religious period of time we prove our worth as Christians by making sacrifices. Ironically, Easter celebrations involve egg hunts, treats, food, chocolate and sweets everywhere. The rationale behind Harris’s choice of season as setting for her novel is that she wanted to write â€Å"about that conflict between indulgence a nd guilt, with chocolate as its†¦metaphor.† Chocolat gives us much more than just a moral lesson. It gives us rich depictions of ways to prepare the ancient bean, whose Mesoamerican origins as a bitter, magical potion contrasts dramatically with the treatment that we give it today. Mirroring the transformative effects of this over 2,000 year-old Aztec beverage, Joan Harris’s chocolate has almost the same supernatural powers among the people of the village. It taunts them, tempts them, piques their curiosity, and even awakens them to innocent mischief. Harris effectively conveys the literary technique of motif with the use of a universal substance that embodies very human emotions: love, hunger, excitement, curiosity, desire, indulgence, and, most importantly, comfort. It is similar to the use of chocolate as a motif in The Chocolate War. Seems like the almighty cocoa bean makes the world a better place, after all. 10. Tea Featured In: Alice’s Adventures in Wonderlandby Lewis Carroll. Insipid to the American taste bud, the tea leaf has universally starred on plenty stages from literature to politics (remember Boston Harbor). While the formalities of tea are not as strongly enforced in the U.S, there is no question that its protocol is quite the big deal in terms of etiquette and dynamics. In chapter VII of Lewis Carroll’s classic, Alice’s Adventures in Wonderland, we witness a whimsical afternoon tea party hosted by the infamous Mad Hatter, the March Hare and the Dormouse; an affair which Alice found both, infuriating and â€Å"stupid.† A bona fide Victorian, the up and coming society gal Alice is shocked at the disorganized and silly turn of events,   but she still partakes in  it, taking the bread and butter while arguing about the lack of everything going on. In the end, the event is â€Å"too much of muchness† for Alice, who walks away from it promising herself never to return there again. That aside, this literary motif in the novel known popularly as Alice in Wonderland, represents a conduit: a liquid potion that has the power to transform human relations. Tea is quite the Victorian timestamp. In 1840, the English set up tea leaf plantations in new territories of India as a result of Victoria becoming empress of the land. Hence, tea became both easier to acquire and cheaper to purchase. The result was a boom in consumption that rendered â€Å"tea time† universally recognized as the quintessential English past-time of choice. Tea also represented a form of transformation in the 19th century: it stood for class status, propriety, socialization, and networking. To tea or not to tea WAS the daily question back in the day. While this â€Å"hot water meets plant† infusion’s role in the world rests entirely on those who drink it, it does hold a special significance in the world of Alice’s multidimensional adventure into Wonderland.

How to Make Canoeing a Fascinating and Exciting Hobby Essay

How to Make Canoeing a Fascinating and Exciting Hobby - Essay Example It is the hope of the author that such a close level of discussion and analysis will be useful not only in helping the reader to come to a greater level of appreciation with regards to the complexities and nuances of canoeing but also a greater interest in the hobby and a desire to go outdoors and attempt to master some of these techniques on one’s own.Firstly, prior to going anywhere, it is necessary to consider the structural soundness of the craft in question.   On more than one occasion I have had the misfortune of starting a trip without ensuring that everything was fine with the craft.   Such a level of inspection can and should include an analysis of whether or not all the gunnels are in place, whether or not any leaks are present, and whether or not the craft is rigid enough to allow for the movements that are part of the process of canoeing.   Once this has been ascertained, it is then possible to consider proper flotation devices and ensure that each and every individual that will be going on the trip has a life vest that is suited to their needs, size, and weight.  Once each of these considerations has been made, it is necessary to review whether or not the individuals that will be accompanying the helmsman (an individual who is responsible for the safety and direction of the voyage) to question whether or not any of the participants are experiencing their first time in a canoe.   Such a question is not merely for the sake of conversation; rather, it has to do with warning them of the fact that a canoe is by very definition much less stable than other forms of watercraft and they should be mindful of this fact when seated.   Moreover, a warning not to move around once the craft has set out is also necessary.   Finally, the number of people going must be compared with the safety allowances of the craft and the overall weight limitations provided.   Once all of this has been completed, it is then allowable to pass out the paddles and proceed with the trip.

How effective has the IMF been in helping countries in financial Essay

How effective has the IMF been in helping countries in financial difficulty - Essay Example On issuing loans to nations, the IMF makes the loan conditional on the execution of specific economic policies. The policies enacted may involve allowing failing companies to go bankrupt, putting higher interest rates in stabilizing the currency, reducing borrowing from the government and structural adjustment (Rogoff, 25). The big issue is that the structural adjustment policies make the situation to be worse. For instance, in the Asian crisis that happened in 1997, nations such as Malaysia, Thailand and Indonesia were instructed by IMF to follow tight monetary policy and tight financial policies in reducing the budget deficit and strengthening exchange rates. Argentina was forced in the same financial restraint policy in 2001. This led to the damage of economy as there was a decline in public services investment. It is also seen that when IMF intruded in Kenya in the 1990s, it made the Central bank abolish controls over capital flows. The consent was that the decision made it easier for dishonest politicians to transfer money out of the nation’s economy. This reveals how IMF did not understand the dynamics of the nation it dealt with. In conclusion, in responding to the public demands in addressing the debt crisis of poor nations and offering debt reliefs, IMF introduced the Highly Indebted Poor Countries Inventiveness in 1996 (Feldstein, 18). This was a big disappointment because of the insufficient debt relief supplied and its SAP requirements. Before a nation became eligible for debt relief under the Highly Indebted poor nations, it was supposed to successfully complete six years of structural amendments. The objectives of Highly Indebted Poor Countries were not to sustain debts in the poor countries, but to minimize losses incurred by the rich

Business Start-Up from Scratch Essay Example | Topics and Well Written Essays - 2250 words

Business Start-Up from Scratch - Essay Example Smart thinking should be employed in order to have potential for growth (Marinel 5). Factors to consider when starting There are various factors to consider before starting a business. One factor is the area of expertise and knowledge. The entrepreneurs must come together and evaluate the level of expertise in providing the good or service they intend to market through their business. For a business to be successful, the business partners must have some experience in the field in which they want to invest. Many businesses fail due to lack of knowledge. The exposure could come from employment in other companies or organizations offering similar products or services. The knowledge should be reinforced by research into the prospects of the product faring well in the market to avoid frustrations. Every niche of a business requires a specific set of skills and, therefore, some require more expertise than others. The knowledge should be coupled with the desire to succeed. Many starters fai l in business due to diminishing passion once they face hardships. The people who want to start the company must, therefore, have a culmination of passion if the business is to take off the ground (Marinel 5). The second factor to consider is the market and demand for the product. Before investing in the product, it would be necessary to determine how much of the product will be sold in certain duration. This is a crucial marker for projecting the profitability. The main reason for starting a business is to make a profit and profit involves sale volumes. The product should be sold in areas where its demand is felt. Some products do well in the local market while others would do well in the international market. Extensive research should be done in order to determine the area in which the product will have enough demand to sustain the development of the business. The target customers should also be established. This helps in demarcating the market into various segments based on facto rs such as the lifestyle, age, and income. Accuracy in determining a market segment is essential to facilitate the recouping of the initial cost as well as driving the business forward. This becomes facilitated by the products ability to satisfy a need in the market. The product launch should also be timely in order to develop a customer base (Longenecker 28). Competition should be the next factor to consider. The entrepreneurs should be able to determine the level of competition they expect when entering the market. This is critical in determining whether they have a competitive advantage against the already established would be competitors. The competitive advantage receives creation if the customers perceive the product to be of superior quality than the others in the market. The product concept should be judged on the opportunity, for business it creates. A brilliant concept does not necessarily imply a fantastic investment opportunity (Longenecker 29). Technology of making the product should also be considered. With time, technological advances evolve in production of many goods in the market. Technological aspect makes a key factor in increasing the competitive advantage by being able to produce higher units of the product, and increasing the cost effectiveness. Once the product to be marketed has been determined, the investors should evaluate their technology to determine if it will help them satisfy the demand effectively, and whether it will reduce

Role Of Quantity Surveyor Construction Essay

Role Of Quantity Surveyor Construction Essay Introduction The name quantity surveyor conjures up a variety of different images in peoples imaginations. For some, the term quantity surveyor is an outmoded title from the past. It certainly no longer accurately describes the duties that are performed. When the term was first applied to the profession, the work of the Q.S. was vastly different to that now being carried out and anticipated in the twenty-first century. A Quantity Surveyor (QS) is a professional which is essentially construction accountant who manages the financial costs and contracts within construction industry. A Quantity Surveyor is involved in four main areas of work in construction industry which are building work such as residential housing and industrial developments, building engineering services such as lift services and others where prime cost sums are to be included in the bills of quantities, civil engineering such as infrastructure construction projects, and heavy and industrial engineering such as onshore and offshore oil and gas and petrol-chemicals. (Yeaw, 2008) Quantity surveyors deal with a wide variety of people including clients, architects, design engineers, construction managers, engineers, planners, estimators, supplier, lawyers and buyers. As building work increased in volume and complexity, there are a lot of sectors recognised the advantage of employing and independent quantity surveyor to prepare an accurate bill of quantities, and measure and value any variation during the progress of work. (Seeley, 1997) Today, quantity surveyors are also being appointed as a project manager to take control of the project from inception to completion and to coordinate the work of the design team and the main contractor and subcontractor. (Seeley, 1997) They can find employment in various areas such as property surveys for hidden defects on behalf of potential purchasers, running estates, valuing the mineral deposits for mining companies, selling property and even Leasehold Reform Act work. The roles of Quantity Surveyor will vary depending on his role either within the clients consultant or the contractor. Role of Private or Public Quantity Surveyor The Quantity Surveyor who works in private or public sector is an important member of the design team. The role of QS includes: Preliminary Cost Advise The QS is an expert in cost appraisal. He/She gives practical advice on the likely cost of the scheme from the inception of a new project. Besides that, he also advises on the comparative costs of alternative layouts, materials, components and methods of construction. Cost Planning during the design stage The QS will prepare a realistic budget and a cost plan showing the distribution of cost for each element once the employers brief is done. (Seeley, 1997) Cost planning during the design stage of the project is to ensure the client obtain the best possible value of his money including added value to his property asset, preferably having regard to total costs using life cycle costing technique so that the costs are distributed in the most realistic way and the contract sum is kept within the clients budget. Approximate estimate of the initial costs of building are prepared using feasibility or conceptual estimating which are single price methods of estimating. (Seeley and Winfield, 1999) When the budget and cost plan were acceptable to the client then the design was developed by the architect. Procurement Advice The QS in design team has a duty to advice the client on the most appropriate form of building procurement based on the type of project, quality of building, speed of construction, apportionment of risk and price certainty. (Seeley and Winfield, 1999) There are numbers of procurement methods using in United Kingdom. For example, traditional method is to negotiate tenders with a single contractor and design and build method is where the contractor undertakes the whole task of design and construction. (Seeley, 1997) Documents Preparation (Tender and Bills of Quantities) The QS will need to prepare tender document in the tendering stage and Bill of Quantities is a part of tender document. Measurement and quantification are required to provide a complete Bill of Quantities. (BQ) BQ translates the drawings, schedules and specification notes produced by designers into a document listing in detail all the components parts required for the project to enable all contractors to calculate his tender prices in same quantities. (Seeley, 1997) Selection of Contractor The QS provides frank, sound and practical advice on contractor selection. QS will based on the industrial relations record, past performance in meeting standard, time target and the quality of management and then make recommendations to the employer on the make up of the selection list. (Seeley, 1997) Negotiation During tendering, the private or public QS will evaluation of tenders and negotiate rates with contractors. Sometimes, QS will choose two of the best contractors and ask them price for the project again with discount rates. Valuing work The contractor is paid monthly in most construction contracts. QS will value the work carried out each month based on the report of Clerk of Works and contractors QS and then making recommendations as to payment to be made to the contractor including advising on the financial effect of variation or receipt of instructions from the architect. (Seeley, 1997) Settlement of contractual claim QS will prepare interim certificate to contractor every month based on the negotiate accepted claims with the contractors QS. Financial Statement A QS prepares financial statement to employer during the construction period and advice the employer on anticipated liability for payment, giving dates and amounts. Preparation of Final Account At the completion of the contract works, QS will need to prepare the final account for the whole project and agree details and totals with the contractors Quantity Surveyor. Role of Contractors Quantity Surveyor The Quantity Surveyors work in contractors firm and is an important member of the construction team. The duties of QS will vary according to the size of the firm. For smaller firms, the roles are tending to be more very wide in scope. However, the roles are tending to be more specified for large firms. (Seeley and Winfield, 1999)It includes: Preparation of Bills of Quantities Commencing of a project, contractors QS will need to prepare BQ with accurate measurement and estimating and then insert prices into the tender document which is provided by private or public QS. There are two types of contract document which are lump sum contract and BQ contract. Lump sum contract is the contract document comprises a BQ without quantities. So, the QS will need to do his own measurement based on the drawings and then come out with accurate quantities. BQ contract means the contract document comprise BQ with quantities. So, the QS just need to do pricing for those documents. Cost Planning during the construction stage Seeley (1997, pg63) wrote that Cost planning is a specialist technique used by the quantity surveyor. It is used to help all the members of construction team to keep works within the budget. Once a realistic estimate is agreed and everything follow in accordance with it, effective cost planning will help to ensure over-budget will not occur in the project from the successful contractors tender to final project cost. Constant monitoring of the cost planning will decrease the risk of overspending at an early stage and prompt corrective action can be taken. Cost planning improves the better value of money. The contractors QS will aim to secure maximum payment for the work done at the earliest possible time to avoid any possible cash flow problems. (Seeley, 1997) He will prepare cost plans that list down all the expenses right through to the projects completion. Negotiation Contractors QS is responsible to control the construction cost during construction stage. To improve the better value of money and maintain the quality of the building, he will negotiate the material price, machinery cost and labour cost with the supplier and come out with a most reasonable price and quality report. Sometimes, he also needs to negotiate with the clients QS for the variation order and payment issue. Comparison of cost QS will need to collect information about the cost of various operations in order to give a better value of money and provide information for the contractor to prepare future estimates. He will do the comparison of the cost of alternative methods of carrying out various operations so that the most economical procedure can be adopted. (Seeley, 1997) Documents Preparation (Sub-contract and meeting report) Preparation of the BQ for the sub-contract is done by contractors QS when some of works are substituted to another specialist. QS will prepare a lump sum contract or BQ contract base on the scope of work of the sub-contractor. In the sub-contract, QS will state the contract sum, commencing date, completion date, scope of work and etc. Besides that, QS also need to prepare site meeting report before the site meeting. He will receive a letter which state the date of site meeting one week before the meeting. The frequency of site meeting is depended on the architect. Normally, it is twice a month. The meeting report includes the project brief, contract information, document register, quality report, work progress chart and progress photos. Making application to the architect or engineer for variation order The QS requires assessing the cost of alternative designs of temporary works and other operations in order to prepare cost and value reconciliations for internal purposes and to forecast trends. He also makes application to the architect for variation orders if drawings or site instructions vary the work and the agreeing the value of variations with clients QS. (Seeley, 1997) Interim valuation and payments QS will prepare interim costing to clients QS so that the contractor can ascertain of his financial position and make appropriate action taken when necessary. (Seeley, 1997) Contractors QS is responsible for looking after the financial interest of the contractor and work in conjunction with private practice on the preparation of interim payments. (Ashworth and Hogg, 2007) Final account preparation QS will assembling data for the final account from the start of the contract to ensure that it will be completed in all its aspects and to give the contractor his proper entitlement under the contract. (Seeley, 1997) Other roles of Quantity Surveyor Ashworth and Hogg (2007, pg9) write In response to the potential demise of bills of quantities, quantity surveyors began exploring new potential roles for their services. The evolved roles of Quantity Surveyor are: Whole life costing The meaning of whole life costing is defined by the Ashworth and Hogg who refer to the Construction Best Practice Programme 1998 (2007, pg146) write that the systematic consideration of all relevant costs and revenues associated with the acquisition and ownership of an asset. All the costs associated with various options for a project are added together to represent a total cost. Future costs are discounted to a present day value. The QS provides the whole life costing to the clients based on the initial cost such as design and construction costs and future cost such as rental and maintenance cost to give an emphasis on a whole or total cost approach undertaken during the acquisition of a capital cost project or asset rather than merely concentrating on the initial capital costs alone. (Ashworth and Hogg, 2007) Value Management Value management is a specialist area. It is important to the success of projects in providing the foundation for improving value for money in construction. Clients are generally wanted higher quality buildings at lower prices and which were produced more quickly. QS involves in value management will examine a strategic problem that a company may face before the decision to build a building. He also uses the value management knowledge to obtain a reduction in construction costs. (Ashworth and Hogg, 2007) Risk Analysis Nowadays, most of the dedicated project manager has a quantity surveying background. Amongst all client advisors, QS is the most suited and motivated toward the management of risk. Sometimes, risk may affect an estimate. So, the QS will need to assess the probability and extent of the effect. The QS evolved the risk analysis to control the occurrence and impact of risk factors and provides clients with better information upon which to make decision. (Ashworth and Hogg, 2007) Expert witness The QS also can become an arbitrator nowadays. He often called upon to act as expert witness in respect of a wide variety of building disputes due to he has the knowledge of the building contract. As an expert witness, the QS need to produce a proof of evidence covering all his intended evidence. (Seeley, 1997) Conclusion The traditional roles of Quantity Surveyor can be classified into private or public Quantity Surveyor and contractors Quantity Surveyor. The table below shows the summary of the roles of Quantity Surveyor in different working sectors. Private or Public Quantity Surveyor Contractors Quantity Surveyor Provide preliminary cost advise Prepare Bills of Quantities during tendering Prepare cost planning during the design stage Prepare cost planning during the construction stage Advice client for different procurement method Prepare tender document and Bills of Quantities Prepare sub-contract and meeting report Select the best contractor to do the work Negotiate the pricing rate with the contractor Negotiate the material price and construction cost with the supplier and the sub-contractor Value the work done by contractor Compare the cost provided by supplier and sub-contractor. Settlement of contractual claim Make application to the architect or engineer for variation order Prepare financial statement Prepare interim valuation and payment Prepare final Account Prepare final account Nowadays, the introduction of computerised systems for preparing BQ makes Quantity Surveyors practices become very nervous. The traditional roles of Quantity Surveyor are not enough for QS to survive in construction industry because it is becoming to take over by technology. So, in these few years, QS are trying to evolve their roles in construction industry. They become project managers, value managers, expert witness to provide whole life costing, value management, risk analysis, a prove of evidence in building disputes and so on to employers. The QS still have a lot of development spaces in construction industry. It will never be ended up and replaced by others. As QS in the future, I wont worry about the unemployment because it seems to be good in the economical crisis at 2007. I always believe that QS job is a Quite Smart job in the construction industry and has a good future. (Total: 2418 words)

Plastics and Our Environment Essays -- Environmental Impact Ecology Es

Plastics and Our Environment Works Cited Missing Plastics today play an important part in cutting-edge technologies such as the space program, bullet-proof vests and prosthetic limbs, as well as in everyday products such as beverage containers, medical devices and automobiles. Recycled plastics are used to make polymeric timbers for use in picnic tables, fences, and outdoor toys, thus saving natural lumber. Plastic from 2-liter bottles is even being spun into fiber for the production of carpet. They are such a valuable resource, that, as a society, we have become dependent on plastics. It is essential that we develop programs to assure this resource will always be available in the future. Plastics are being used in so many different ways. Whether you are aware of it or not, plastics play and important part in your life. Plastics' versatility allow it to be used in everything from car parts to doll parts, from soft drink bottles to the refrigerators they are stored in. From the car you drive to work in to the television you watch when you get home, plastics help make your life easier and better. So how is it that plastics have become so widely used? How did plastics become the material of choice for so many varied applications? The simple answer is that plastics are the material that can provide the things consumers want and need. Plastics have the unique capability to be manufactured to meet very specific functional needs for consumers. So maybe there's another q...