Legal Aspectos of Nursing Essay Example | Topics and Well Written Essays - 1000 words

Lawful Aspectos of Nursing - Essay Example The attendants had a commitment to go to legitimately towards Mr Garcia. This necessary an unmistakable consideration after his control to the restrictions. The measure would forestall a definitive mishap that happened to Mr Garcia. The standard of synergistic connection was engaged with this case. This rule involves a lot of suggestions and proposals to the medical caretakers. The guideline of synergistic connection advocates for powerful correspondence. Correspondence in this setting includes a total comprehension of basic settings of the patient’s wellbeing (American Medical Association, 2010). In this manner, the medical attendants should look for interesting input from the patient. This move will upgrade a legitimate comprehension of the fundamental setting of the patient’s wellbeing. Physical and enthusiastic responses are key discernible factors to decide the condition of the patient’s wellbeing. Attendants should likewise offer an open and safe condition for the patient. Clearly, correspondence was exceptionally denied at Garcia’s case. This was an infringement of community oriented relations guideline. Bona fide affiliations are additionally a key space under the cooperative connection standard. Medical caretakers should concentrate on helping the patients accomplish their physical, profound, or even mental needs. This is a characteristic that didn't exist in Garcia’s case. ... Attendants have a commitment to maintain a strategic distance from cases of reprisals from the patient consistently (American Medical Association, 2010). In Garcia’s case, the medical attendants disregarded this guideline. Through their carelessness to Mr Garcia, they upgraded presence of counter. Reprisal was apparent on the case of showdown from Mrs Garcia. She included the police out of her torment and counter towards the nursing unit. Particular relations were a rule that was engaged with Garcia’s case. Obviously, it was profoundly abused. Mr Garcia’s case likewise involved a monstrous association of the Medical need guideline. This standard specifies most extreme arrangement of wellbeing from the medical caretaker. Medical caretakers should offer avoidance, finding and treatment to the patients. This rule presents clinical consideration as a fundamental need towards the patients (American Medical Association, 2010). In Garcia’s case, the attendants ha d a commitment to examine his condition and actualize quick instruments for wellbeing achievement. Likely, the medical caretakers would direct a prompt determination to him at the delicate limitations. Forsaking and denying him direct balanced consideration was an infringement of the clinical need standard. Hence, the guideline of clinical need was associated with Garcia’s case. Regulatory improvement was an extra rule that was associated with this case. This rule furnishes the nursing unit with an inclination to rearrange modern correspondence frameworks. This improves coordination and clearness inside the whole nursing unit. The standard additionally specifies that the nursing unit ought to immerse an amicable distribution of jobs (American Medical Association, 2010). Along these lines, shared administration is a significant goal of this guideline. Each

India on The Move Essay Example | Topics and Well Written Essays - 500 words

India on The Move - Essay Example While this was endeavored to be tended to through the, exceptionally disagreeable, constrained sanitization program in the system of Indira Gandhi during the 'crisis' years consideration appears to have fallen by the wayside. The populace keeps on developing at a pace of 1.5% and India is required to cross China by 2018. This is the consequence of higher birth rates combined with expanded future. At the foundation of the issue, be that as it may, lie poor proficiency levels. Development of the economy, to an enormous degree, is invalidated by the populace rise and the number (and level) of individuals living underneath the neediness line keeps on being at an amazing degree of 44% of the populace. The joblessness levels are likewise reliably high. With the informal figures evaluating these to be over the 20% imprint this shows an absence of adjusted development. Since horticulture gives food to over 72% of the populace, it appears glaringly evident that this division of the economy has been dismissed at the expense of modernization in the more noticeable areas like IT, producing industry and administrations. Cracked and regionalized governmental issues is maybe the following most concerning issue confronting the nation.

The Class of 2010 Ring Premiere

The Class of 2010 Ring Premiere The Brass Rat is a long-standing MIT tradition that has given rise to MIT Admissions own, relatively young tradition: blogging Ring Premiere! And so, after three beautiful years of Ring Premiere blog entries, Im proud to be blogging the debut of this years Brass Rat to the rest of the world. (I kind of do feel like this is sort of a blogging rite of passage, actually. I remember reading Meliss ring premiere entry as a prefrosh and wanting one like Sam wants Ina Garten.) This was the only thing that really disappointed me about the ring its complete lack of controversy. I wouldve loved to see a woman on the seal. It seems illogical that people would complain about defying tradition in previous years, when the point of having all these quirky symbols is to defy tradition and create an identity that represents your class as a whole, so why not, in an era in which we have a female president and a female running as a major Democratic candidate, represent us with a woman? (Melis and Laura wrote similarly about the subject, especially since Meliss class was right after the class of 2007s Brass Rat had decided to try using a woman once again. It was changed for the first time in 2002). Anyway. Continuing on.. The half-moon, which I didnt have enough room to describe in the picture, is because the moon was in the half-moon phase when we first came to MIT in August 2006, and will be once again when we graduate in June 2010. (AAAWWW.) Also, another thing: there are 20 hidden 10s on the ring, 13 of which are on the bezel. Regardless of the lack of controversy this year, though (it seems every year something comes up, from the woman, to a leaked design, to hidden cult symbols.. no, wait, thats Disney movies) the Brass Rat remains one of the strongest Institute traditions that is recognized all over, from grad school professors noticing you went to MIT undergrad to a lady at a coat check. So getting your Brass Rat is a pretty amazing part of being an MIT student, especially since its one of the few times that your entire class assembles on their own free will. (Also, because Ring Comm was giving away a Wii.) For more information about the Brass Rat: The 2010 Ring Comm Website Article in The Tech about the 2010 Brass Rat Mollies 2006 Brass Rat Entry (sorry, Mollie!) Matts 2007 Ring Premiere entry Mitras 2007 Ring Premiere entry Meliss 2008 Ring Premiere entry Article in the Tech about the 2008 Brass Rat Lauras 2009 Ring Premiere entry Article in the Tech about the 2009 Brass Rat Post Tagged #Brass Rat

A List of Nobel Prize Winners in Literature

Should Overpopulation Be The World s Main Environmental...

Becky Spear Warren AP Literature December 14th, 2016 Should Overpopulation be the World’s Main Environmental Concern? Introduction Human culture now has the potential to inflict irreversible damage on the environment and on its life sustaining systems and resources. Already, critical stress suffered by our environment is clearly manifest in the air, water, and soil, our climate, and plant and animal species. Should this deterioration be allowed to continue, we can expect to alter the living world to the extent that it will be unable to sustain life as we know it. Though there isn’t only one main cause to the environment’s destruction, many scientists, economists, and people in general claim that overpopulation is our problem. Currently, the Earth has a population of about 7.5 billion people and the population is growing at rate of about 1% every year. A picture of world population in the very long-run fits the pattern of exponential growth (when a population grows exponentially the rate of growth is proportional to the size of the population). Yet an observation of how growth rates have developed in the course of the last century reveals that this pattern no longer holds. The annual rate of population growth has recently been going down. A long historical period of accelerated growth has thus come to an end; the annual world population growth rate peaked in 1962, at around 2.1%, and has come down to almost half since. The Oxford Dictionary defines overpopulationShow MoreRelatedA Great Matter Of Concern Today Or Just A Bust?1667 Words   |  7 Pages A Great Matter of Concern Today or Just a Bust? Marvin Patani Communications Essentials – COMM1016-41 Professor Mark Dorsey Wednesday, October 29, 2014 â€Æ' A Great Matter of Concern Today or Just a Bust? While India is on the verge of being the most populated country. While the third world countries are deprived of their resources rapidly. People in the United States have to say that the problem of over population has been curbed and infant production rateRead MoreEnvironmental Issue Of Environmental Issues1746 Words   |  7 Pages1015 4/18/15 Environmental Issues One of the greatest things which is being talked about presently is the growing concerns of scientists, environmentalists, and people of this planet when it comes to environmental issues. Environmental issues is something that is discussed frequently in the news, in politics, and in classrooms around the world. More and more we are becoming informed and aware of the current and ever facing environmental crises that are taking place around the world today. Some scientistsRead MoreEffects of Over Population Essay1273 Words   |  6 Pages The world as we know it is slowly being depleted of its natural resources. Habitats are being destroyed, and wildlife animals are facing extinction, these are just a few of the effects of over population. Over population not only affects nature and the planet but the human way of life. Imagine a world where the water is polluted, the soil produces no crop and the air is so toxic that we can’t breathe; this is where the world is heading. Due t o the fast growth of people, humanity itself faces greatRead MoreOverpopulation Is It Climate Change? Land Use? Resources Depletion?1166 Words   |  5 PagesWhat is the most concerning environmental issue that society faces today? Is it climate change? Land use? Resource depletion? These issues are definitely important. However, none of these issues are more threatening than the looming threat of overpopulation. Why do we care if more humans occupy the Earth? Why is overpopulation such a big concern? With the dramatic growth in human population, resources will be depleted quickly. According to Worldometers, a world statistic site, there is an annualRead MoreThe Sierra Club s Political Program Essay1425 Words   |  6 Pagesconservatives, such as blue collar workers and oil companies, are afraid and threatened by new legislation to protect the environment. So naturally, the conservatives oppose such changes in order to continue their operations and not succumb to new environmental measures. This idea is found within the erstwhile Grand Canyon Campaign, in which The Sierra Club compromised with the Bureau of Reclamation in order to save the Grand Canyon from flooding. Though, the bureau still got their power in terms of coalRead MoreAnalysis Of The Article Towards A Buddhist Environmental Ethics By Rita M Gross1611 Words   |  7 Pagesenvironment, which mainly concerns taking care of the environment as well as improving it. Since, we as human beings are different from animals as we have a gift consciousness, we have an obligation of being improvers of the environment through ensuring that we observe environmental consciousness and that we avoid all those practices that negatively affects the environment and cause ecological crisis and problems. This essay will use the article â€Å"Towards a Buddhist Environmental Ethics† by Rita M GrossRead MoreModernism And Its Impact On The Environment906 Words   |  4 PagesOne of the core beliefs of the modernistic perspective is that people have no need to fear future environmental disaster because the next technological advancement that will prevent it is right around the corner. Furthermore, those who share this view do not include themselves in their image of the ecosystem, believing they are detached from it. Lastly, a laissez-faire approach is taken to environmental problems, focusing on progression through technology, stressing that as long as progress is madeRead MoreI Was Little, I Had Love For Sci ence Essay977 Words   |  4 PagesSince I was little, I had love for science. It is the subject that interest me because there’s too many interesting topics. Science make us wonder how things work and how the world was made. In science there s too many hypotheses that can be made into proved theories. Now that I’m in college, it has only reassured to me that I do love science. I’m taking my Biology courses and they are so intriguing to me. One of my classes that I’m really enjoying right now is Biological evolution. When I wasRead MoreMy I Have Had Love For Science Essay975 Words   |  4 PagesSince I was little I have had love for science. It is the subject that interest me because there’s too many interesting topics. Science make us wonder how things work and how the world was made. In science there s too many hypotheses that can be made into proven theories. Now that I’m in college, it has only reassured to me that I do love science. I’m taking my Biology courses and they are so intriguing to me. One of my classes that I’m really enjoying right now is Biological evolution. When IRead MoreTaking Responsibility Versus Diffusing Responsibility1252 Words   |  6 PagesTaking Responsibility versus Diffusing Responsibility Climate change has remained a dormant issue since the industrialization of the wealthiest nations today. New information coming to light about recent and future environmental catastrophes like Hurricane Sandy, clearly represents that the homeostasis of our environment is not to be trifled with. The chief problem in solving this issue manifests itself in the head decision-making bodies. One side of the debate believes the solution will be a

Sociology and Perspective Essay - 2373 Words

Sociology-Family Page 1. Family A family is â€Å"a set of people related by blood, marriage or some other agreed-upon relationship, or adoption, who share the primary responsibility for reproduction and caring for members of society.† (Schaefer, 2009) A family is considered a social institution. This social institution is one that can be applied to all three sociological theories which are functionalism, conflict, and interactionism. The first sociological theory is functionalism. A functionalism perspective is a â€Å"sociological approach that emphasizes the way in which the parts of a society are structured to maintain its stability.† (Schaefer, 2009) This simply means for in the instance of a family that the family in a whole is†¦show more content†¦Though all three of these perspectives have this one major characteristic in common they also have some differences. For instance the functionalist perspective sees an unconscious smoothness to how the family interacts with each other. It is like a well oiled machine that each piece is important and without that one piece the machine will not work properly or at all. Functionalist view these interactions as something that is positive and rarely have many conflicts to overcome. While the conflict perspective seems to view consent struggles with many aspects of the family. There is first the conflicts that fill the inside of the family. Those a re the struggles a member has with other members of the family for roles within the family. The other is the conflicts the family has as a whole with other families. These are usually over statuss such as power, money, housing, political representation and etc. Families competing against other families to have more than the other families. Basically they want to outdo and be more important than others. Interactionism perspective is a mixture of both the other two perspectives. It is mircosociology and looks at every action to see meaning in them. They tend to look really close at how one thing effects other things. The best way to describe it is a cause and effect. Interactionism also looks at the dramaturgical approach. The dramaturgical approach is when people are seen as theatricalShow MoreRelatedSociology as a Perspective 1332 Words   |  6 PagesSociologist argue that â€Å"the sociological perspective is a way of thinking; a form of consciousness that challen ges familiar understandings of ourselves and of others, so we can critically asses the truth commonly held assumptions† (Micionis and Plummer 2008:10). This essay supports this statement by analysing and discussing the significance of sociological perspective in our everyday lives. According to Peter L. Berger sociological perspective is described as the link between societal events andRead MoreSociology And The Theoretical Perspectives Of Sociology1710 Words   |  7 PagesSociology is seen every day in our lives as humans, it is the scientific study of human behavior and society. The idea of sociology has not been around forever. The term sociology comes from a man named Auguste Comte who takes credit for this study. Not only did Comte come up with this idea but there were several things that influenced the study of Sociology and how we view it today. These influences are called the origins of sociology and they include; new idea or discipline, Industrial RevolutionRead Mor eSociology : A Sociological Perspective1292 Words   |  6 PagesOrigins of Sociology Ashley Drees Ivy Tech Community College Professor Brosmer April 10,2016 What is Sociology Sociology  is the  study of  social behavior or society, including its origins, development, organization, networks, and institutions. Sociology is a social science that uses various methods of empirical investigation and critical analysis to develop a body of knowledge about social order, disorder, and change. Three Main Theoretical Perspectives in Sociology Functional Perspective ConflictRead MoreThe Theoretical Perspectives Of Sociology911 Words   |  4 Pages Symbolic interactionism is the first of the three theoretical perspectives in Sociology. This avenue of examining sociological factors looks at more personal interactions than the other two perspectives. Sociologist observe patterns and behaviors of these smaller interactions to define, or redefine, the use and evolution of symbols in society. Some sociologist see this approach as being too focused on one person’s view and take on society rather than trying to understand society as a functioningRead MoreThe Sociological Perspective Of Sociology874 Words   |  4 PagesThe Sociological Perspective Sociology is the scientific study of society and human behavior. Human behavior and each respective society that is studied can be evaluated and governed by the scientific method to produce reliable results. The inquiries into these subjects are derived by the inspirations of sociological perspectives. Each stratifying field of Sociology finds an anchor in the relationships between these pieces in the human context in which they are found. Navigating the water inRead MoreSociology : A Sociological Perspective896 Words   |  4 PagesCarolina, â€Å"Sociology is the study of human social relationships and institutions† (http://sociology.unc.edu/undergraduate-program/sociology-major/what-is-sociology/). Sociology is science practiced by everyone in the world, whether they realize it or not. It is not only an incredibly important social science but also a beautiful art to study how society works. Now, an educated sociologist will realize that there are different perspective to view the world through from a sociological perspective. ThereRead MoreThe Macro Sociology Perspective1100 Words   |  5 Pageshowever as a female myself I still believe that we have not achieved equality and an example of that would be the education system. I’m going to connect it to two of the macro-sociology perspective. Macro-sociology perspective is a sociology study that focuses on the human society on a wide scale. One of the macro sociology perspective, I’m going to talk about the educational system for the females all around the world., not all countries practice equal education such as Bolivia, Armenia, Pakistan and TanzaniaRead MoreSociology : A Sociological Perspective1053 Words   |  5 PagesSociology is the study of society and social lives and forces that influence people and shape the construction of society their lives. It also gives us an awareness of cultural difference that allows us to see the social world from many perspectives. (Sutton 2013). Sociology perspectives are overview of human behaviour and its connection to society as a whole. A sociological theory is a set of ideas explain how society or aspects of society work and there are many variations of the basic theoriesRead MoreThe Sociological Perspective Of Sociology963 Words   |  4 PagesAfter a careful study and a deeper research on an introduction to sociology, I have come to understand that no problem can be solve d well enough if one does not have the sociological perspective which is defined as a way of looking at the world through a sociological lens. In fact, there is the need of the lens that will help one to view situations and have the eye to emerge through different views to solve that problem. This mirror has become a doorway that will help one to have a beginner’s mindRead MoreTheoretical Perspectives On Sociology And Sociological Perspectives1357 Words   |  6 PagesTheoretical Perspectives in Sociology In the world of sociology there are many different ways that humans interact with the world. Although we are all human beings, we do not always see the world the same way that others do. Even though not many are aware of the different ways they can see the world, there are three sociological perspectives. Using structural functionalism, the conflict theory, and symbolic interactionism one will be able to decide which view best represents the way they see this

Write About a Book You Have Read free essay sample

It was written by Nadia Khan, infamous writer in Malaysia. I started to read the book a week ago, in which 2 months after I bought it. At one bored night, after I have nothing to do, I started to read the first sentence of ‘KELABU’ and surprisingly, I only stop reading it after six hours. It really shows how the book gave a big impact on me to keep on reading. What makes this book became interesting is because the writer used a bombastic and brilliant words to attract youngster like me. Unlike typical Malay novel I have read before, the storyline was absolutely different and unexpected. That makes people keep on reading eagerly to know what the story was up to. I continue read the book patiently even though it has more than 400 pages. As I mentioned before, the story was strongly amazing with its twist storyline. Basically, the book is about Amir, the main character of this story whom struggled enough to find the meaning of true love in his life. We will write a custom essay sample on Write About a Book You Have Read or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He has been dumped by one girl that he loved the most while they were studying in Germany. Amir also has a family conflict since his parents separated when he was a small kid without him knowing a valid reason of his parents’ divorce. That makes him to further study in Art and Design course at Germany where his mother lived with her new family and with intention to bring back his mother into the family. Amir also has a best friend named Shah that he met at Germany. Shah always stands there with Amir to give him a moral support and advice regarding to Amir’s problems. The conflict only started after I read half of the book and it shocked me to the max. This is because Amir was actually Amira, a girl whom facing identity confusion when she had an accident long time before. From the impact of the accident, she started to change like a boy emotionally and physically. That explained why the girl dumped her. She was struggle enough in her life while facing with thousands of conflict with her parents, best friend, ex-girlfriend, colleagues and people around her. Fortunately, Shah came out as a hero to correct the wronged way that Amira or known as Amir at the beginning to choose the right path in her life and repents from all of her sins before. The conflict itself shows the meaning of ‘KELABU’ or how unsure things happened in Amira’s life. The issue of Lesbian, Gay, Bisexual and Transgender (LGBT) popped out from this book is to shows that it really happened in our community nowadays. But, it depends on how we react with these people regarding the LGBT issue. Other than that, this book also highlighted the dilemma of single father rising up his daughter in a wrong way until his only child chose to become a guy instead of a girl. For me, this book really opened my eyes about the value of family bonds, friendship and relationships. I would recommend ‘KELABU’ as a very good and interesting book to read for a young people like me who always dislikes any lovey dovey typical love story.

Anatomy in Primary and Secondary Schools

Anatomy in Primary and Secondary Schools Hashtag: #GreysAnatomy The Study of Human Anatomy GreysAnatomy is actually a word play on the title of a human anatomy textbook Gray’s Anatomy: Descriptive and Applied. The book was written by Henry Gray and initially published in 1858. Historically, the study of anatomy and physiology started when man started to find answers to questions regarding their own bodies. For instance, Leonardo Da Vinci allegedly dissected a human cadaver so he can accurately represent humans in art. Anatomist William Harvey studied the human circulatory system in the late 15th century and discovered for the first time that blood has a pattern in its flow. Another interesting discovery in the field of anatomy and medicine was painless surgery through the medicinal use of ether and nitrous oxide (laughing gas) to control the pain during the operation. BIOLOGY RESEARCH PAPER Anatomy and physiology are branches of biology and medicine, but the former is more focused on the structure of living things (human, animal, and plant) while the latter is more concern on mechanical, physical, and biochemical functions of living organisms. The study of the structure of the human body in primary and secondary schools is normally aimed at providing a foundation for advanced study in fields related to health and fitness. It is also aimed at developing a sense of self-understanding, particularly to children who are curious about what’s inside the body. Moreover, since anatomy is not limited to the human body and extend to all living organisms, students often benefit from comparative anatomy or studying other species in order to learn evolution, structural similarities and common ancestry among human and animals. The biology curriculum in secondary schools, for instance, is not the only concern in developing students’ knowledge of the natural world in relation to everyday life, the power of reasoning and observation but familiarity with the structure and function of the human body. Specifically, students learn the change in living things through evolution, diversity of type and unity of patterns, genetic continuity of life, growth, and development, preservation of life, and others. Biology and Basic Anatomy Curriculum Primary school students are normally introduced to the basic human  skeleton or study of the skeletal system. After learning the structure, composition, and functions of the skeletal framework, students then learn the muscles and other body organs attached to it. Some of the introductory tasks include making a (normally life size) skeleton using colored paper or card and paper fasteners. By drawing the bones, schoolchildren become more aware of the significant features of each bone, identify bones’ proper location and construct appropriate joint structures for them. Moreover, anatomy in this level includes simple experiments in order to explain some of the functions of the human body and compare and recognize the similarities and differences between human and animals. However, anatomy in secondary schools is quite more complex as it involves microscopic anatomy such as the study of the structure and function of cells and tissues, senses, blood, heart, the major organs of the digestive system, and others. Some are focusing on the primary functions of the human brain, structures that enable biological systems to interact, energy and materials required to sustain life. Overall, all key stages of anatomy-related science curriculum are aimed at providing knowledge about human and animal body structure and understanding of life processes. For instance, knowledge of human and animal anatomy helps students understand the fact that humans and animals need food and water to stay alive, need to exercise, eat the right type and amount of food in order to stay healthy and strong, the beneficial and harmful effects of drugs, ability to produce offspring and senses that makes humans and animals aware of the world around them.

Literture and emotions essays

Literture and emotions essays Literature is most certainly an outgrowth of its culture. Also it provides information on the current events and the status of that particular country. It offers insight as to what people are thinking and feeling. Not to mention that it brings sun light upon the history of the era. Literature does reflect the thoughts and feelings of its culture and this is clearly seen with many characters of the United States facing disappointment, uncertainty, bitterness, the loss of youthful naive optimism, self- centeredness and many more emotions all humans face. In The Sculptors Funeral by Willa Cather, Jim Laird is most definitely the most significant character, for he is the one that understood the Harvey Merrick. Many reasons can be argued for that fact, but one factor remains for sure; he was an idealist and realist who could identify with him, for he was a link between Boston which some say represent the world and that community in Kansas. Jim Laird reflects the thoughts and feelings of the culture through his disappointment. For this was a man who sought to be an idealist, but he failed. For he said, Well, I came back here and became the damned shyster you wanted me to be. Hence, one can see that his disappointment in becoming what he wanted to be- failed and he had to become a lawyer. This was definitely reflective of the times, for materialism and idealism were waging war against one another. Also Jim Laird said, Oh, youre discriminating Christians... a genius should ever have been called from this place of hatred and bitter waters... upon which town may God have mercy! Here one may see that when he defended the successful idealist known as Harvey, that he acknowledged that although he failed, Harvey went after his dream and go it. And for ...

Free Market Vs Regulation Essay Example | Topics and Well Written Essays - 3000 words

Free Market Vs Regulation - Essay Example Government Role in Infrastructure: Infrastructure is a very vital cog of any country, and hence takes a supremely significant position in the government’s perception. Now, Rostow, who was a specialist in this field has made note and brought to light the fact that the inability of the governments to create infrastructure was one of the major road blocks that were faced during the process of modernization in Europe during the 19th century. In his argument, he says that the â€Å"creation of preconditions for take-off was largely a matter of building social overhead capital†. This comes in line with the generally accepted argument that the cost of infrastructure or the social overhead capital compliments the industrial production process as this facilitates the transfer of goods, which leads to the creation of mobilization of markets on a national and international level. Haber, another esteemed expert in this field, has further developed the importance of infrastructural support in his arguments based on the case study of Mexico. (Bracking, 2009) Here, he offers the opinion that Mexico was unable to solve the problem of surplus capacity which it was facing in the 1980s by exporting goods to different countries around the world. All of this, he attributes to the lack of infrastructural support that was present in the country at that point in time. He cites Avisador Comercial de Havana which attributes this problem related to the exorbitant costs of transportation: â€Å"How, then, can goods be shipped to the coastline at a beneficial value? How can they [Mexican manufacturers] compete in foreign markets†¦if within their own borders they have incredibly high freight rates?† (Geoffrey, 2002) In recent times, economic analysts have argued that the major difference between the growth differentials of different countries is infrastructure as highlighted by the case on India and China. Due to the importance infrastructure plays in the workings of a country and its non-excludable and unrivalled nature has further substantiated the claim for the need of governmental intervention to facilitate and hasten industrial growth in the country. On face value, one can see that this notion is somewhat not contestable in nature in that not many can refute the claim that has been put forward; however, some economists have also offered the notion of a private sector backed infrastructural growth. This notion certainly has immense promise in theory as this would basically remove the role of the government from this entire workup and would subsequently move the entire mechanisms onto a free market which would be highly appreciated in light of the concept at hand. However, that certainly does not appear to be a distinct possibility at the current point in time which is why infrastructural support has been ascribed to governments to this day and age. (Kiely, 2007) The rationale behind this is suggestions like the one offered are more likely to fail in the developing countries as private sector led infrastructural growth needs immensely advanced institutional or technological support in order to create and sustain excludable and rivaling properties.

Contemporary Developments in Employment Relations Coursework

Contemporary Developments in Employment Relations - Coursework Example Labour demand on the other hand, consists of the employers who have a need for work to be done, and who offer compensation for this work to employees who undertake it (ONS 2014). In normal market operations, the market wage in this case would be determined by the intersection between labour demand and labour supply or the equilibrium. However, the government intervenes to control wages thus setting minimum wages below which they are not legally acceptable. The employed are those who are actively engaged in work and comprised 72.7% of the labour force in March 2014 while the unemployed are those not actively engaged in work but are willing and able to work and are actively engaged in search for a job and are of the required age and the unemployment rate for the same period was 6.8% (ONS, 2014). By December 2013, there were 5.5 million people working in the public sector comprising 18.2% of those in employment representing a fall of 159, 000million workers between September and Decembe r 2013. The top three employers included National Health Services (NHS), education and public administration. In order to function properly, the labour market needs to be regulated and this is done through the employment law. These regulations include: national minimum wage; working time; maternity/paternity leave; health and safety; race and/or sex discrimination; information and consultation but for the sake of this paper we will discuss the national minimum wage and working time. According to the Organization of Economic Cooperation and Development (OECD) rankings, the UK has the least regulated labour market just next to U.S and Canada. However, the industry is more regulated than in the 1960s when collective employment rights ad use of trade unions in bargaining terms and conditions was the norm. Employment contracts were unheard of, working time was deregulated, minimum wage restricted to a limited number of

Ocean Park Of Hong Kong

Ocean Park Of Hong Kong This report is about Ocean Park of Hong Kong one of the largest amusement ocean park in the Orient and even in the world. In this report we are going to cover such topic as strategy concepts of Ocean Park, external and internal environment of organisation and its corporate, business-level and international strategy. On base of data collected well give our recommendation and advice to CEO and Board of Ocean Park of Hong Kong about Parks strategy to the next 10 years (from 2005 to 2015). The main aim of this report is to provide in-depth strategic analysis to CEO and Board members. Thus, this work is focused on challenges, opportunities and threats of organisation, its culture and economic aspects, strengths and weaknesses of organisation, core competency of ocean park in order to help to improve it in anticipation of arrival of Hong Kong Disneyland. Strategy concepts and vocabulary -Mission (Strategic purpose, not specified) Ocean Park provides all guests with memorable experiences that combine entertainment and education, while inspiring life long learning and conservation advocacy. Our aim is to maintain a healthy financial status, while striving to deliver the highest standards of safety, animal care, products and guest service.http://www.oceanpark.com.hk/html/en/footer/corporate-information/vision.html -create all activities for perfect family holiday -increase involvements of visitors in environmental issues and lives of animals -Goals and objectives to fulfill its mission Boost the number of annual visitors from four million in 2004 to five million by 2010 To make a 0,5 per cent contribution to Hong Kongs gross domestic product (GDP) in 2010 (page 7) -Vision (More specified) http://www.oceanpark.com.hk/html/en/footer/corporate-information/vision.htmlOcean Park aspires to be a world leader in providing excellent guest experiences in a theme park environment connecting people with nature Become number one marine-based park for each family not only from Hong-Kong but also from mainland China. To be main attraction for all tourists, who visit Hong-Kong -What performance measures would you use to determine the success of Ocean Park? -It is the hometown favorite. It had been a long-time favorite of several generations ((its been operated for more 28 years). Many local people were sympathetic to Ocean Park. People who had visited the park as children were now bringing their own children to visit the park. Its reputation even extended into mainland China. It had become a fixture of Hong Kongs cultural heritage. (p.5) -The number of visitors in 2004 is 4 m of people (with daily maximum capacity 35,000 people). -Total revenue in 2004 was 536, 2 HK$ m comparing to 428,3 HK$ m in 2003, surplus for 2004 year was 95,7 HK$ m comparing to deficit 4,1 HK$ m in 2003. recognizability of new brand (Whiskers became a household name in Hong Kong) -Who are the various stakeholders in Ocean Park organization (how might they impact on its purpose and mission)? Stakeholders, who help to achieve parks purpose and mission: Hong Kong government, Home Affairs Bureau and the Tourism Board, employees of Ocean Park corporation, its visitors (customers). Interfere with achieving parks purpose and mission: Activist groups (certain environmental groups and animal rights activists) forbid of buying and transportation exotic animals to park, trade associations and unions (bus companies and taxi drivers) forbid in building a mass transit railway (MTR), competitors regain market share. External Environment -Conduct a PESTEL analysis for Ocean Park, identify the key driving forces for change facing Ocean Park; Rank key driving forces based on their predictability and potential impact on Ocean Park, then develop some scenarios and identify implications of these scenarios for Ocean Park. PESTEL: Political: Government support Improving relationship between Hong Kong and Mainland China Promotion of tourism the easiness of the restrictions and promotion of the free travel of China in 2003 that helped to inject a new life to the tourism industry of Hong Kong environmental law Economic: Growth and development of the global amusement park industry Disneylands arrival Increasing number of mainland visitors Increasing standards of living in midland China Raise and spend HK$5.55 billion Social: Major events and activities (peak seasons and holiday themes: Chinese New Year, Easter Holiday, Summer Holiday, Halloween and Christmas) Media, advertisement and publicity, required for these special events Change of demographic (Population growth rate, age distribution, size of families) Increasing the cost of labor and more guarantees for employees Negative affect of Outbreak of Severe Acute Respiratory Syndrome (SARS) outcome Technological: Development of the amusement machinery industry Increasing popularity of new technologies for consumers (internet, mobile, digital camera) Amortization of park equipment Developing of new transport system (for example, a mass transit railway (MTR)) Research and development activities (creating of new park amusement) Environmental: Opposition from certain environmental groups about the importation of wild animals to Ocean Park Expenses on maintenance of exotic animals Protests of animal rights activists against relocation of animals Climate change (rain season in spring, hot in summer, typhoons in summer) Legal: Approval of Town Planning Board for hotel, Legislative Council for MTR station. Restrictions on mergers Employment laws Key driving forces and their ranking : 1)Global changing in tourism for Hong-Kong and Asia-Pacific region (development of tourism in region) 2)Raise and spend HK$5.55 billion from private and government loans to revamp parks well-worn product line (approval of development plan) 3)Disneylands arrival worldwide success of main competitor-Disneyland, coming to Hong Kong (Disneys success or failure) Binary table of scenarios for Ocean Parks key drivers (in decreasing order of their impact on park): Development of tourism in region Approval of development plan Disneys failure Scenario + + + Successful scenario + + + + Middle scenario + + + + + Failure scenario -Define Ocean Parks industry and conduct a five forces analysis: Which are the dominant forces in the industry? How may the five forces change? What are the underlying dynamics which are driving these five forces, and how may the five forces change? What are the impacts on key competitors and on Ocean Park? What can be done to influence the impact of the five forces? Five forces analysis for amusement park industry: 1) Threat of New Entry In terms of the amusement park industry, the entry barrier is high due to the need to invest large amount of financial resources (for park equipment, human resources maintenance), a lot of time required for parks planning, construction, development and launching, a lot of licenses and legalization required (safety, sanitary, security etc.). In addition to the amusement park required land for a full scale development. This factor is important because Hong Kong has a high land price real estate market. Re-write in own words!!!!! 2) Threat of Rivalry: It is important to consider that with lack of differentiation, visitors choice will greatly over the price and service, thus causes pressure for the intense price and service competition. Due to high threat of rivalry, Ocean Park is implementing different plans and activities such as redevelopment and introduction of new attractions in order to catch the attention of the visitors and differentiate themselves from rivals. There are no rivals with exactly the same range of products. Disneys arrival is only expected. Re-write in own words!!!!! 3) Threat of Substitution: (where this information from I like this point!)) The main threat of substitution is Hong Kong Disneyland Wetland Park, a new international theme park and an educational park (Appendix 2) Apart from this, there are other forms of substitution. From the education side, Hong Kong residents can switch to go to Cultural Centre, Mai Po Wetland, Hong Kong Zoological and Botanical Garden. For entertainment purpose, they can visit the Karaoke, Cinema, Game Centre, or have a day trip to China. 4) Bargaining power of buyers (visitors): (where this information from I like this point!) -Tourists Tourists have a low bargaining power as long as must see image successfully built-up and the Park cannot be replaced by other substitutes. Therefore, Ocean Park focuses to build up this image especially in Asia. Local residents The buying power of local resident is high since they have many choices as mentioned above. The switching cost is relatively low. Also, Hong Kong people like new experience and their loyalty to the product are generally low. The Park, therefore, launched difference programs like Big Five events with difference theme each year to bring new excitement and experience to them. Besides, special discount in low season and year pass intent to attract 5) The power of suppliers. Suppliers have quite high power. Thus, construction elements of amusement rides are huge and complicated, thats why park is highly tied with supplier. Otherwise, this market is developed and the choice of suppliers is become greater now. While constructing buildings (hotels, etc) with particular contractor park cant easily change to another contractor because of high switching cost). The situation with the exotic animals is such as Ocean Park can buy in particular country only. Which are the dominant forces in the industry? The dominant forces in the industry are: rivalry, buyers and substitutes. How may the five forces change? Looking forward, the five forces will change in this way: -Rivalry will increase with Disneys arrival; -Buyer power will increase slightly; -Substitute threat will also increase; -Entry threat decrease dramatically; -Supplier power will also decrease. (Exhibit 2.5 p.72) What are the underlying dynamics which are driving these five forces? Aftermath of economic crises and increasing in number of suppliers will decrease supplier power. Disneys arrival decrease entry threat in entertainment park industry. Developing of new technologies will affect rising of substitutes. Also competitors with new technologies will gain (in this aspect Disney has an advantage) Disneys arrival increase demands in diversification of Ocean Parks products. Ticket price advantages (185 HK$ for adult ticket at Ocean Park compared to 295HK$ for the same ticket at Disney). The main rival (Disney) is also same market oriented (families with children). What are the impacts on key competitors and on Ocean Park? Five forces much more affect Wetland park Ocean Parks key competitor, located at the northern part of Tin Shui Wai, in Yuen Long than Ocean Park itself, because Wetland parks products are less differentiated. It has a 10,000m2 visitor centre, Wetland Interactive World, and a 60-hectare Wetland Reserve. (http://www.wetlandpark.com/en/aboutus/overview.asp). Arrival of other competitor Disney and its substitutes doesnt affect much Ocean Park because it has its its own niche. What can be done to influence the impact of the five forces? More differentiation of new products, directed mainly to Chinese native culture will affect rivalry, substitutes and buyers. Unique high-quality products and services also will influence buyers. For seeking suppliers big impact will have Internet and special web-sites with best quality of service, characteristics, recommendations and prices. Conduct a strategic group/space analysis for Ocean Park There are 2 key competitors for Ocean Park: First one is mentioned above Hong Kong Wetland Park. It is a conservation, education and tourism facility, consisted of large visitor centre, Wetland Interactive World and a Wetland Reserve. This park provided visitors with opportunities to observe wildlife, awareness and understanding the values of wetlands throughout the East Asian Region and beyond, wetlands conservation. So, its mainly about wetlands. The Hong Kong Wetland Park is also going to be a world-class ecotourism facility to serve both local residents and overseas tourists.(ttp://www.wetlandpark.com/en/aboutus/mission.asp) Compare to Disneyland and Ocean Park, Hong Kong Wetland Park has different facilities and product range (such as themed exhibition galleries, a theatre, a souvenir shop, an indoor play area), provide different services and thus, like Disney and Ocean Park, has its own niche. The range of facilities provided is the narrowest among 3 parks. Thus, Wetland Park cant meet demand of those visitors, who are looking for excitements and extreme pleasure, which can be found on a rides at 2 other parks. Who are the main visitors? Is it local or global? Is it has the lowest range of facilities than Ocean Park and Disney? Much lower prices. The second one arriving in a nearest future The Hong Kong Disneyland. After 28 years of operating as a near monopoly, Ocean Park would soon have to compete with one of the biggest names in the entertainment and theme park industry. Moreover, Disneyland targets the same group of parks customers families with children. It has well-known brand and reputation. Its the world leader in terms of entertainment. Several of Disneys characters (Mickey Mouse, Donald Duck and Winnie the Pooh) were household names all over the world, including in Hong Kong. Thus, Ocean Parks mascot, Whiskeys, appear lackluster by comparison. Image, which Disney company holds almost for a century (The Walt Disney Company was founded in 1923) and Disneyland itself (first park was opened in 1955) for half a century (compared to 28 years of Ocean park) helps to attract visitors not only from Hong Kong and midland China, but also from different part of the globe, especially those who are from the USA and Europe. Among other advantages of Disneyland are: location: it could be reached in just 10 minutes from Hong Kongs airport and less than 30 minutes from downtown Hong Kong. -at least 5.6 million people were expected to visit the Hong Kong Disneyland during its first year of operation (compared to 4 million of Ocean Park expected visitors). -the price claimed to be the least expensive among the five Disney amusement parks throughout the world. -the area of Disneyland is 310 acres compared to 215 acres of Ocean Park. -5 times greater investment than for Ocean Park. -Expected economic effectiveness is 3 billion more. -world-renowned innovation -high customer service standards Strategic groups within the entertainment and theme park industry in Hong Kong Broad Ocean Park Geographical Scope Global Product range Disneyland Narrow Wetland Park Local Conduct a market segment analysis for Ocean Park: How is the market segmented? How could it be segmented? Where would you position Ocean Parks products and services? Where would you position the competitors products? Ocean Park is a part of entertainment and theme industry. Its market is families with children. Disneyland future competitor applies to the same market. Despite this, Ocean Park has its own niche visitor from midland China. Internal Environment -What resources and capabilities does Ocean Park have? Resources (what a firm has): 1)Tangible: -financial suppliers of money (private and government loans) expected HK$5,6 billion investment; HK$145 billion economic effectiveness; surplus from operations in 2004 was HK$182,2 million on revenues of HK$536,2 million ; -physical Sea World, marine life and real animals:35 rides and attractions; 3 hotels; favorable and convenient location on the southern side of Hong Kong Island; wide range of new activities, such as the Abyss Turbo Drop thrill ride, seasonal and special events, popular water-related activities, interactive activities with animals, edutainment programs, successful Sea Jelly Spectacular and so on. 2)Intangible: long-time reputation of park with government, customers, -new brand sea lion named Whiskers; -cultural heritage of Hong Kong -great number of repeated visitors 3)Human: -37,100 employees, their skills and knowledge; -Thomas Mehrmann, new CEO of Ocean Park, and his previous experience at US-based Six Flags Corporation; Natural and wild life focus (Interactive activities with animals) Recreation and education Capabilities (what a firm can do) -New products, facilities and services development capability continually adding new features and attractions (such as: a new roller coaster, a subzero Ice Palace, 7.6 million liter aquarium with an underwater restaurant, extra 33 animals species, the number of rides doubled to 70), so, become a nearest future one of the best marine-based theme park with strong connection with nature; -Keeping park attractions fresh, novel and exciting, while minimizing costs; research and development, marketing and sales capabilities: plan to refurbish and rename Ocean Parks 2 major areas (the Lowland and the Highland), new hotels to be developed, including a five-star boutique, spa-type hotel this redevelopment plan would be completed in 2012!! recommendation part too!!, plan to open offices in the major urban areas of Guangzhou, Beijing and Shanghai to enhance promotional activities in Hong Kong and attract more mainland visitors -new incentive compensation, that linked employee compensation to the financial performance of park -What might be the competence of Ocean Park? Core competences resources and competences which are both valuable to customers and difficult to imitate -distinctive work culture, with its own norms and practices -local market loyalty -unique SmartFun Annual Pass program -cultural aspect (cultural heritage of Hong Kong), orientation on specific market segment-mainland Chinese visitors, -long-term reputation, distinct Chinese characteristics -powerful brand -customer trust -primary focus of OP on real nature and wildlife in contrast to Disneys strengths in cartoon characters, castles, virtual reality and fantasy -focused on education and the live animal attractions one of the key elements that will differentiate it from Hong Kong Disneyland when it opens in 2005. (from Echos articles) -cost and differentiation of product (continually adding new features and attractions as well as price advantage over Disney encouraged visitors to return to the park) -The aerial tram that takes visitors from the entrance side of the park over a hill to the rest of the attractions has become a Hong Kong tourism icon-is it still true (from Echos articles) Competitive advantage is explained by the distinctiveness of its resources and capabilities, by offering customers greater value by means of lower prices or greater benefits and service Competitive Advantages of Ocean Park over Disney: -long-time reputation, -hometown favorite, -cultural heritage of Hong Kong, orientation mostly on visitors from midland China -first-mover advantages -no need to engage in high-profile advertising and publicity, rely more on word-of-mouth -more diverse and wide range of products (including Sea World, marine life, real animals plus 35 rides and attractions) price advantage: the admission price for Disneyland is expected more than twice higher for child and one and a half higher for adult than price of Ocean park. And visitors from mainland China are very price sensitive. SmartFun Annual Pass program with unlimited admission to the park for its holders within a year, and discounted prices for food, souvenirs -Infrastructure 3 hotels had been constructed comparing to 2 at Disney. -orientation not only on entertainment, but also on education of visitors, differentiating by focusing on ecology and conservation issues -recognizable brand -In addition to all the American fun at the park, traditional Chinese holidays are still observed (Chinese New Year) -Disney has its characters, but we have flexibility to mix and match and bring in other entertainment (from Echos articles) -Does Ocean Park build its strategy on its resources, capabilities and competences? Yes. Importation of more species Water/Sea-related construction Hotel-better recreation -Are they sustainable? How can they be developed? Sustainable to some extent, but with some limitation. For example, it may face the opposition from environmental group. They cant relay only on resources, capabilities and competences-they need to be developed, innovated and refreshed, because they may begin to look dated and shabby for their visitors. SWOT Analysis Positive impact Negative impact Internal environment Strengths -Diversified and wide range of amusements (thrills, animals, seasonal and special events) -product line revamp -Highly linked with culture of mainland Chinese visitors, knows their demands and behavior -the main, oldest and most famous amusement park in the country (long-time reputation, hometown favorite), -cultural heritage of Hong Kong, -28 years of operating as a near monopoly -no need to engage in high-profile advertising and publicity, rely more on word-of-mouth -strong business connection to the local government (support from the government of Hong Kong and mainland China) -renovation of the parks brand image -mascot as a brand -previous experience of Thomas Mehrmann (new CEO of Ocean Park) in theme park industry (at US-based Six Flags Corporation) -local market loyalty -positive image of park Weaknesses -Located on a hills-hard to get to some riders-thats why visitors experienced rides only once. -different facilities are old and un-attractive and need renovation -a lot of activities depend on weather-ask Echo about it -no substantial capital investment External environment Opportunities -focusing on delivering mainland Chinas visitors as well as foreign visitors -development of new transportation South Island Line (when-check case-and ask Echo about it) that would cause convenience and fast access direct to the Park for the foreign and local visitors. -plan to build a mass transit railway (MTR) station to connect OP to the subway grid -the development and improvement of the amusement machinery can impact the services and features of the organization and its relationship to their foreign visitors. raise the standards of park with Disneyland arrival fostering sponsorships plan for building new hotels (boutique and spa-type) orientation on luxury tourism new market segment Threats -economical instability (such as the Asian financial crisis of 1999-2001, lasted for 3 difficult years for OP ), outbreak of different diseases, such as Severe Acute Respiratory Syndrome (SARS) in 2003 (Both these factors can affect number of visitors and their buying behavior, worsening the park financial situation) -arrival of Disneyland Hong Kong -OP was situated on valuable real estate: it could be shut down and its land could be sold off for other recreational or commercial purposes. Recommendation p.6-7!!! (recommend to use this business connection for future purposes, such as building a subway line for the visitors (itll happen in 2007). Say, in 3 years Build a mass transit railway (MTR) station for connection to the subway grid. Till 2015) (recommend to start innovation process, it will take about 6 years). Say, in 5 years

The Process of Writing: Composing through Critical Thinking, by Roberta

Sally caught the ball. The long-haired, athletic Sally gathered up all her strength and stretched, like Stretch Arm Strong, to grab that ball right out of the sky above. Which one sounds better? Which one would you rather have in your paragraph? With some simple things to keep in mind, you too can write better. The book entitled, The Process of Writing: Composing through Critical Thinking, by Roberta Allen and Marcia Mascolini, taught you everything from thinking before you write to putting things together, all the way to how to prepare specific forms of essays. It's definitely something you should read before even thinking about another paper. First of all, before you can write and actual paper, you must first go through certain steps in order to prepare the essay, and then when the time comes you can write your essay with ease and add detail. When you have a clear head you can write so much easier, although it is hard to obtain that mind set. Getting your thought down on paper without worrying about the perfection and detail helps the whole writing process and analysis. The first thing to do before even starting to brainstorm is to figure out whom your audience is, who are you aiming the paper to? You need to make your message meaningful to your audience, and make sure you think about what the audience needs, expectations, knowledge, and attitudes towards your subject are. Anticipate their questions and how they will respond to your answers. Some key ideas to think about when assessing your audience are to think of the primary and secondary readers are. Then what do they already know about your subject, and what c haracteristics about your audience will affect how the paper will look? Then think about what i... ... memos, shows you how to write proposals and progress reports, and how to document secondary sources. In conclusion, this book was amazingly informative and very helpful. It is definitely something that every student should read before writing another paper. It lays out the dos and don'ts of the writing process; it is great way to improve your technique. This book went all the way from showing you exactly how to write certain types of papers, such as long messages and memos all the way to compare and contrast papers, to showing you how to write in detail with all papers. This book is definitely something that I would recommend to future students. Especially in business classes, or any writing classes for that matter. Writing is a huge part of communication, and this book helped with the fundamentals that many people lack but are essential in the long run.

The Reporting of Human Resource Accounting

CHAPTER ONE INTRODUCTION 1. 1 BACKGROUND OF THE STUDY Indeed, accountancy profession is a profession that encompasses other profession and that is why accounting has usually been thought of as highly technical field that can only be understood by the professionals (chartered accountants). Also, it has often been called ‘the language of business. Even, people in the business world owners, managers, banks, stockbrokers, investors, human resource managers, lawyers, to mention a few all uses accounting terms and concepts to describe their resources and the activity of every business they engage in whether large or small. While, according to the dictionary of management by Daniel Hartzell ‘Human Resource Accounting’ is defined as a concept that views the employees of an organization as capital assets like plant and equipment. It is important to say here that human resources accounting involves measuring the costs incurred by business organizations and other entities to recruit, train, develop and maintain their human capital. It also involves measuring the economic value of people to organization. These people consist of suppliers, customers and the society as a whole. It is not an overstatement to say that we are living in an era of accounting and as such human resources accounting must not be seen as an ordinary concept in the field of accounting but as a current trend that has come to stay. However, in this study, focus shall be placed on human resources accounting and how it will be reported in the financial statement, which also mean the capitalization of human resources as an asset which can be amortized. Although, the worth of human resources may be fairly difficult to quantify, hence there is no reason to value them at zero or not to record them in the financial statement as an asset. If the change in the value of money are accounted for, depreciation and maintenance of plants and machinery are also accounted for different adjustments are made in material, machinery and other asset therefore, inclusion in the financial statement, human aspect which form about seventy-five percent or more of the total asset that makes up the production in the organizations are only accounted for in terms of salary and wages. Leaving such information out of financial statement presents only twenty-five or less percentage of the cost of production. Based on this, such financial statement does not provide total information for decision making. 1. 2 STATEMENT OF* THE* PROBLEM While the concept ‘human resources accounting’ is intuitively attractive, the significant problems it poses will not be swept under the carpet. For the purpose of this research the following problems are areas we to proffer solution to: The possible ways of measuring the monetary worth of an individual in an organization. The treatment of human resources as an asset to be amortized overtime in the financial statement. How to estimate the effect of managerial action to employee moral, productivity and turnover. To furnish a more complete and realistic picture of the organization financial strength and the total contribution to the economy in general. {text:list-item} The aim of this study is to evaluate human resources accounting and treatment in financial statement. It is pertinent to note that objectives are identifies into two divisions; the general or broad objectives and the specific objectives. Bearing in mind the problem this study hope to provide a solution to, the general objective is to achieve a creation of idea to be employed by a further researcher for the formulation of any technique, for the monetary value of human resources and the specific objectives is the preparation of a more complete financial statement given the monetary value. {text:list-item} Employees as individual are not usually accounted for rather the value of their output is accounted for and the rate of their pay in the nature of salaries and wages are accounted for. This study intend to classify employees as asset and give value to them accordingly and create ideas to aid the formulation of measure for treating them in the financial statement. {text:list-item} The limitations to the study include: INFRASTRUCTURAL FACILITIES: There is limited library and computer facilities which have gross effect on this research work. LIMITED FUND: The situations of the economy constitute problems to students as relating to raising funds. LIMITED TIME: Due to the nature of the school calendar, there is little or no time to carry out adequate research on the study being done. text:list-item} The followings are the research question to be considered: How can monetary values of employee’s service be established? Can this monetary value aid management in internal control? What are the possible effects of the monetary worth of employee’s services to the profitability of an organization? What impact would training and development of employees have on th e performance of an organization? {text:list-item} The hypotheses to be tested are stated below: H0: Most income statements are incomplete without adequate consideration and inclusion of the human resources element in the financial statement. H1: Most income statements are complete without adequate consideration and inclusion of the human resources in the financial statement. H0: There is need for capitalization and amortization of human resources like other fixed asset in the financial statement. {text:list-item} FINANCIAL STATEMENT: This are the accounting reports in respect of the economic activities of an enterprise, prepared periodically and usually at the end of every financial year. These statements form an integral part of the company’s annual report and accounts while their components are specified in both CAMA and the Statement of Accounting (SAS) No. . CAPITAL ASSETS: Assets including investments not held for sale, conversion or consumption in the normal course of business. Capital assets are certain types of assets that qualify for special treatment when gains and losses result from transactions involving the assets. AMORTIZATION: It is the writing off of assets, the lives of which are determined not by deterioration or obsolescence, but the expiry of the tenure of ownership. It is distinguished from depreciation in that there is generally no deterioration in the performance of the asset during its life. Amortization is for intangible asset. CAPITALIZATION: The term â€Å"capitalization† is derived from the word â€Å"capital†. Capitalization is the process of determining long term capital requirements of a business and obtaining capital for it from various sources of fund. HUMAN CAPITAL: That part of an organisation capital represented by the ability, experience and skill of its work force. It refers to the knowledge, education, training, skills and experience of a firm’s worker that have economic value to the organisation. {text:list-item} Access Bank Plc. was incorporated in 1989 as a private limited liability company with ownership residing with Nigerians and institutional investors. The Bank was subsequently listed on the Nigerian Stock Exchange in 1998. Access Bank Plc. is a full service corporate – commercial bank operating through a network of over branches and service outlets located in all major centres and cities across Nigeria, Gambia and Sierra Leone. Access Bank is recognized as Nigeria’s fastest growing bank in the fastest growing sector of the fastest growing African economy. Access Bank had consistently grown at a triple digit across key performance indicators since 2002; an unparallel performance in Nigeria and indeed in Africa. As a result, from a low ranking position in the Nigerian banking industry in 2002, the bank had risen significantly to rank amongst Nigeria’s top 10 banking groups. Access Bank had painstakingly built a formidable brand over the years in its continued drive towards becoming one of Nigeria’s leading financial institutions with the appointment of its current management team in 2002. Access Bank has successfully implemented a two-pronged growth strategy of both organic and inorganic growth with the objective of emerging as one of the top three banks in Nigeria within the next five years (2007-2012). THE POST CONSOLIDATION Access Bank Plc. was one of the first to successfully comply with the Central Bank of Nigeria’s banking consolidation policy through the acquisition of two Nigerian banks: Capital Bank International Plc. (formerly Commercial Bank Credit Lyonnaise Ltd) and Marina International Bank Ltd (formerly Allied Irish Bank). The three banks’ people, processes, systems and technology were fully integrated in a record time of 60 days. The Access Bank Plc. integration approach is now the model for integration in the banking industry. After the management and staff of the Bank, the Netherlands Development Finance Company (FMO) of the Netherlands is amongst a number of significant institutional investors in Access Bank Plc. stock, having invested US$15million in the bank by way of direct equity in 2005. This depicts the degree of confidence international investors have in the bank, its corporate governance and management strategies. The bank in 2007 conducted a phenomenally successful local and international public placements of common stock which has seen its shareholders’ funds grow by 560% to approximately N160billion. CHAPTER TWO LITERATURE REVIEW {text:list-item} The term ‘human resources accounting has been conceptualized to involve measuring the costs incurred by business organization and other entities to recruit, train, develop and maintain their human capital. But an overview of this research study shows that if researcher must discuss or research on human resources accounting, certain related terms such as human resources planning, human resources forecasting, human resources auditing, and human evaluation must be defined. {text:list-item} This involves having to employ the right number and the right kind of skill that result in the long run maximization of individual and organizational benefits. It also gives consideration to skill auditing within organization but additionally requires that human resources goals give attention to labour market condition in the environment of the organization. Human resources planning are the process of determining personnel requirements and the means of meeting those requirements in order to carry out the integrated plans of an organization. Human resources activities are important to individual, organization and national arenas in order to bring about the optimal utilization of human resources. Human resources planning involve projecting and forecasting the present personnel functions into the future. {text:list-item} This focuses on institutional adaptations resulting from external pressures and changes. This human resource forecasting is important because of various external pressure that affect resources forecast includes: Amount of production. Technological change. Supply and demand condition. {text:list-item} Auditing is an intensive, analytical and comparative process. Human resources auditing has to do with investigation into job analysis, recruiting, testing, interviewing, training, promotion and transfer personnel appraisal, labour relations, employee benefits and service, wages and salaries, administrative and personnel research. Computerized personnel system today uses human resources skill inventories. This inventory require a lot of data, which include personnel factors, education and training experiences, skill job experience and other additional information. It is obvious that it is an overstatement to say that the reporting of HRA information in external annual reports brings with it the question of its audit. Costs incurred in human resource are readily subject to verification by the auditor and thus present no new problems. Cost expirations on the other hand, if based on the theoretically sound assessment of future benefits remaining for the organization, present some problems for the auditor because human resource and behavior are highly complex. But, conventional accounting also uses estimates, assumptions, in many areas such as depreciation related to the future which could be as unpredictable and less accurate. The verification of value-based data for human resource in annual reports had represented a different and more substantial problem for the auditors. However, there had been found a growing interest in value-based human resource accounting at some time in the future could not be ignored. Flamholtz suggested that: â€Å"Human resource accounting will have an impact upon corporate financial reporting. In the future, corporations would have to report on their investments in human assets. At first this information will be reported in the chairman’s letter of corporate annual reports. The purpose will be to show management’s attention to building human assets. Some companies may choose to include this information in a statement of intangibles, and some will include it in proforma financial statements. Ultimately, however, it will be included in conventional statements as a generally accepted accounting practice† {text:list-item} Theoretically, human resources accounting had been explained from different analysis made by different authors. Conner (1991) in his theory titled â€Å"the resource theory† considered human resources in a more explicit way. This theory considered that the competitive position of a firm depends on its specific and not duplicated assets. The most specific (and not duplicated) asset that an enterprise has is its personnel. It takes advantage of their interdependent knowledge that would explain why some firms are more productive than others. With the same technology, a solid human resource team makes all the difference (Archel, 1995). Another interested theory is that of the two principles of â€Å"human resource cost† and â€Å"expenses recognition principle† Theoretically, the two principles of ‘human resources cost’ and ‘expenses recognition principle’ have been used to explain the treatment of human resource accounting in the financial statement. Accountants are known with human resource cost principle of treating human resource in the financial statement. They claimed to have accounted for human resource cost for a long time before the phrase ‘human resource accounting’ come into light. Generally, they have followed the practice of changing human resource cost, associated with production (e. g. direct labour) to inventories manufactures and changed all other human resource cost(wages and salaries) to operating expenses in the period incurred. This principle of accounting for human resource provides little insight into the recording of human resource cost but it does not show or identify human resource as an asset in the balance sheet. Strictly speaking, for the purpose of this research the accepted theory had been deeply rooted in different models of accounting for human resources as explained by Jawhar Lal (2003). {text:list-item} These two under-listed method of accounting for human resources will be critically examined and explained broadly for the purpose of this work. Human Resource Cost Accounting (HRCA), i. e. , cost-based human resource accounting. Human Resource, Value Accounting (HRVA), i. e. , value-based human resource accounting. {text:list-item} HRCA may be defined as the measurement and reporting of the costs incurred to acquire, develop and replace human resources. Generally speaking, (i) historical costs and (ii) replacement costs are recognized in human resource cost accounting model. Historical Cost (Acquisition Cost) of Human Resources This model known as the historic cost model focuses upon the amount of expense incurred during the defined period on formal training and orientation, familiarization and on-the-job training, and formal development and experience. This is the amount of the additional development and experience. This is the amount of the additional investment in the acquisition and development of human resources. Acquisition cost involve costs of recruiting, selecting and hiring people to meet an organisation’s present and future human resource needs. These costs refer to the sacrifices that must be incurred to ‘acquire’ a new employee. Development costs refers to the sacrifice (costs) that must be incurred to train a person either to provide the level of performance normally from an individual in a given position or to enhance the individual’s technical, administrative, or interpersonal skills. Development costs include these components: Orientation, off-the-job training, and on-the-job training. These three components generally include costs such as salaries, tuition, materials, travel and consulting fees. Orientation costs are costs associated with formal orientation of employees. The orientation makes employees familiar with personnel policies, company products, facilities and so on. Orientation costs are generally a mixture of salaries and materials. The salaries are for both trainer and trainee. Materials may include brochures describing firm policies, history, etc. Off-the-job training costs are incurred in formal training not directly connected with actual job performance. Formal training programmes may be advance technical training, or management development programmes. Off-the-job training costs may include salaries, tuition, meals, travel, facilities costs, consulting fees, and materials. Salaries include the cost of trainers as well as trainees. On-the-job training costs are incurred in training an individual on the job itself rather than in formal training programmes. On-the-job training is used not only for production workers but also for professionals such as accountants, engineers, and management trainees. The cost associated with on-the-job training include labour and materials costs. Accounting for Historical Costs Historical costs of human resources are treated in the same way as expenditure on fixed assets such as buildings, plant and machinery. Upon capitalization, the amount of investment in human resources will appear as assets on an enterprise’s balance sheet, and be written off over the expected employment life of the particular group of human resources employed in the enterprise. This allotting process involves recording of investments in human resources through a capitalization process; recording of routine (periodic) expectations of such capitalized items using a suitable mortization procedure; recording of losses on account of special expirations which may result from obsolescence of investments in certain skills or knowledge capabilities or the turnover of personnel; and dynamics and conditions of human resources in terms of investments therein. The determination of a suitable amortization procedure to recognize expirations in human resource is difficult and highly involved. Human resource investments are of a highly varied nature with different periods of long term benefits. Further, uncertainties of conditions of employees, and even mortality add to the complication of deciding upon appropriate amortization practice. Ideally, expiration of human resource investments should be determined by association with those periods during which the benefits of the investments are experienced by the entity. As example, cost of recruiting should be amortized over a period of time which is the best estimate of the remaining time that the individual will remain actively in the employment of the company. Training costs should be amortized over a period which is the best estimate of the time during which the benefits for such training will be enjoyed by the firm. Special training to develop a skill which will be utilized for a short time period should be amortized rapidly. General executive training on the other hand, may be amortized over the estimated remaining tenure of the recipient with the company. Amortization time periods should never extend beyond the date of the recipient’s tenure with the organization. TABLE 2. 1 ABC COMPANY LTD. BALANCE SHEET AS AT 31ST DECEMBER, 2003 FINANCED BY: TABLE 2. 2 ABC COMPANY LTD INCOME STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2008. In summary, while cost-based HRA system, are rather severely restricted in the range of their usefulness, within that range, they can be quite worthwhile. Furthermore, the applicability of existing accounting techniques and the familiarity of managers with these techniques suggest that such an approach can save as a logical starting point. Replacement Costs of Human Resources. Replacement costs as used here refers to the estimated costs that would have to be incurred by an enterprise in order to replace its existing human resources with others of similar ability and experience. The determination of replacement cost involves estimates and these estimates are concerned with the present rather than with the future. Flamhottz has developed a concept (model) for calculation of ‘positional replacement cost’ which he defines as the sacrifice that would have to be incurred today to replace a person occupying a specified position with a substitute capable of rendering equivalent services in the given position. There are three basic elements of positional replacement costs; acquisition costs, development cost and separation costs. Acquisition and development costs still remain as discussed under historical cost of accounting for human resources. Separation costs are or incurred as a result of an employee leaving a position or job in an organization. It includes three basic components: separation compensation costs, differential pre-separation performance cost, and vacant position cost. These costs are generally capitalized and amortized, but should be expensed when the employee ceases to be employed. Separation compensation cost is the cost of severance pay, of any personnel. It may range from very little or no cost to a person’s salary for one year, and perhaps more. Differential pre-separation performance cost is the cost of lost productivity prior to the separation of an individual from an organization. There is a tendency for performance to decrease prior to separation. In many cases, differential pre-separation performance costs may be difficult to measure for specified individuals but may be measurable from historical performance records by personnel classifications. Vacant position costs may be incurred during a period when a search is made for replacement in other positions, holders of the latter may perform less effectively when the former is vacant. This difference in performance or less performance can be termed a cost of vacant position. Evaluation In a sense, replacement costs can be viewed as representing a bridge between historical cost approaches and economic value approach. The justification for considering replacement cost as a form of economic value is the proposition that the value to an organization of an individual’s services is reflected by the amount by the amount that the organization would have to pay to replace their services. Furthermore, replacement costs are present-oriented rather than future-oriented. Thus, it is not necessary to make estimates about the future in order to determine human resources values in terms of replacement costs. There are several difficulties associated with the use of replacement costs for human resource accounting. Replacement costs are often irrelevant since management may be either unwilling or unable to replace a particular individual with another person of similar abilities. {text:list-item} Jawhar Lal (2003) explained in his study that human resource value accounting is an attempt to measure the value of human resources on the basis of benefits accruing to an organization. The amounts of such benefits are derived from the value differentials attributable to investment in human resources. Many authors have developed models for calculating (estimating) the value of human resources of an organization. These models have some similarities, but they do vary somewhat in both concept and in choice of surrogates. For this research work to proffer solution to the question of how human resources of an organization can be valued. Some models have been used thus; Hermanson’s model Hermanson discussed two possible valuation methods, both of which are based on economic concepts of value: (a) The Unpurchased Goodwill method, and (b) the Adjusted Present Value Method. Unpurchased Goodwill Method: Hermanson had suggested that the value of human resources of an organization may be assessed by capitalizing earning in excess of normal earnings for the industry or group of companies of which the firm is a part. This approach is historical cost-based and thus of limited use as a predictor. Also, if it is based on projected earnings rates it could be no better. This approach implicitly assumes a zero value for all human resources in competitive situations since a positive value of human resources requires above average earnings. Adjusted Present Value Method: This method requires four steps in order to arrive at the value of the human assets. Estimate annual wage and salary payments for five years into the future. Calculate the present value of estimated wage and salary payments by applying a discount factor equal to the normal rate of return in the economy. Calculate an average efficiency ratio based on the previous five years performance. This ratio is found by dividing the actual earnings of the firm by normal earnings for each year and averaging the result. (In making this calculation, the latter years receive more weight than the earlier years). Multiply the present value of the future wage and salary payments by the average efficiently ratio. The resulting figure represents the estimated present value of the human resources. This method also is related to Hermanson’s unpurchased goodwill model and shares the same limitations. In addition, it may be criticized on the ground that future compensation is as much as measure of the liability of the firm employing the individual as it is an asset. The concept, therefore may relate to the human capital represented in individuals employed by the firm. Both of Hermanson’s models were suggested as possibilities for external reporting and management uses. Giles and Robinson’s Model Giles and Robinson suggested that the valuation of human assets should be made in term analogous to the valuation of a business on a going concern basis. The price earning ratio, which relates market capitalization to the latest reported earning figure is their point of departure. Based on a sample of companies with similar characteristics, an average P/E multiple is computed and then adjusted to arrive at the multiple applicable to the firm by providing for (deducting from the average multiplier) the factors that are not related to human assets. The multiple is further adjusted as needed, for application to different job categories. Gross remuneration of employees and all additional expenditures related to investments in human resources are capitalized by using the appropriate multipliers. The technique provides the basic data necessary for periodic human asset, balance sheets and income statements and human asset profiles and projections of the firm. The multiplier represents a number of year’s capitalization of the annual human resource figure. The total human asset value in a firm is either equal to or less than the amount of ‘goodwill’ (the going concern value less net non-human assets). Due allowance is made for other goodwill elements, such as product loyalty, patented processes and the value of long term contracts. The net change in human assets value in a period is computed as the difference between capitalized amounts which enhance the value and capitalized provisions for dimension or amortization of value. Lev and Schwartz’s model This model determines present value of future earnings of a person in an organization. The model developed by Lev and Schwartz to estimate human capital value of a person (y years old) is: EVr*=t=rTPr? t+1)i=rtIi1+rt-r Where: EVr*= the human capital value of a person ‘r’ years old. I(i)= the person’s annual earning until retirement and this series is represented graphically by the earnings profile. r= a discount rate specific to the person. T= retirement age. Pr(t)= Conditional probability of a person of age ‘r’ dying in year ‘t’. I*t=fI? (t), t=r,.. ,T This model provides a reasona ble measure of human capital which could be used for aggregation in macro statistics and in assessing the dynamics and mobility of such capital. While the authors indicate that capital values determined by use of this model will provide financial statement uses with valuable information about changes in an organization’s labour force, the model’s use for practical decisions of managers of organizations or of potential investors in organization is obscure or even non-existent. Organ’s Model Organ attempted to measure in monetary terms the net present values of some of the human resources of a certified public accounting firm. A human resource value model was utilized in the research which is exhibited in table 2. Table 2. 3 Major Determinants of human Resource value Model Source: Pekin Organ, â€Å"Application of a Human Resource Value Model: A field Study†, Accounting, Organisation and Society, Vol. 1 No. 2-3, 1976, p. 198. According to Organ, there are seven major determinants of the values of human resources. Monetary value benefits potential. The individual performance index. Efficiency index. S tandard work index. Maintenance costs (salaries or wages) Start-up costs (recruiting, initial training). Training and development costs. Probability of continued employment. Probability of survival. Organ believes that has model generates data that are amiable for use in an on-going manner like a performance evaluation system or a human resource value accounting system. Organ’s model has two major limitations which are, one, the ‘total’ value of the individual is not considered, and two, the model is limited for use in professional service organizations. Jaggi and Lau’s Model In human resource valuation, there is a problem of forecasting the expected promotion chances and tenure of employees on an individual basis. To overcome this problem, Jaggi and Lau refer to ‘group’ as homogenous group of employees who may not be necessarily working in the same department. They claim that on a group basis it is possible to know the percentage of people (in a particular group or department) likely to get promotions or to leave the organization before death or retirement in future years. This model assumes that the pattern of employees’ movement generally remains constant over time. Therefore, predictions based on historical data for one period can be used for future periods also. The authors assert that with some intuitive justification, the model is likely to provide greater accuracy and reliability. Morse’s Model According to Morse in his study â€Å"A Note on the Relationship between Human Assets and Human Capital†, (1973), the following equation was implicating attributed to Flamholtz: A=i=1NrTIi(t)1+rt-r+rTX(t)1+rt-rdt Equation 1 Where A= human assets value to a formal organization; N= Number of individuals currently employed by the organizations; R= current time; T= highest time at which an individual currently employed leaves the organization; Ii(t)= net value of the services rendered by individual ‘i’ at time ‘t’ to the organization, Ii(t)=Gi(t)-Ei(t). Gi(t)= gross value of services rendered by individual ‘i’ at time ‘t’ to the organization. Ei(t)= all direct and indirect compensations given to individual ‘i’ at time ‘t’ by the organization. X(t)= value of services of all individuals presently employed working together in excess of value of their individual ervices at time ‘t’ and r= time value of money. Morse then converts the Lev and Schwartz equation, which determines an individual’s human capital value under certainty to: C=i=1NrTEi(t)1+rt-rdt Equation 2 Which according to Morse, is the total â€Å"human capital employed in an organization† as it exists at time ‘r’. Now, by expand equation 1 and re-arranging it, the writ e says: Equation 3 says that the present value (PV) of human assets equals Total Present value (TPV) of human resources less present value of payment to the employeed. Flamholtz Model Flamholtz in 1971 proposed a normative human resources valuation model which would trace the movement of an employee through organizational positions or service state where the employee â€Å"†¦ is expected to render in specific quantity of service to the organization during a specified time period. The probability of the individual occupying this service state is needed so that expected service from the individual can be derived using: ES=i=1NSiP(Si) Equation 4 Where: Si= services that are required from the individual in a service state; and PSi= probability that the individual will occupy the particular service state. The service than an individual renders determines his or her value to the organization and Flamholtz stated that the monetary equivalent of this services can be represented in two ways. The first way is to determine the quantity and price of the services and use their product as the monetary equivalent, and the second expected services are discounted so that their present value can be determined. Also, in 1972, Flamholtz offers a model for calculating an individual’s value to an organization using the present value of the set of future services the employee is expected to remain in the organization. This model is conceptually sound from a benefit point of view and would have left little room for improvement. During this same year, Flamholtz proposed ‘expected realizable value’ as a form of economic valuation of the human resources. His model postulates that an individual is not valuable to an organization in the abstract. An individual is valuable to an organization in relation to the personal attributes and the characteristics of the organization. On a conceptual and theoretical level, Flamholtz has tried to identify the key variables that determine an individual’s value to an organization and the inter-relationships of such variables; he recognizes that these determinants may land themselves to monetary or non-monetary indicators. The model developed by Flamholtz is shown in table 2. 4 below. TABLE 2. 4 Revised Model of the determinants of an Individual’s value to a formal organization Source: Eric Flamholtz, â€Å"Human Resource Accounting: A Review of Theory and Research,† unpublished paper presented to the Organization Behaviour Division at the 32nd Annual Meeting of the Academy of management, Minneapolis, Minn. , August 15, 1972, p. 10. Flamholtz suggested appropriately that this â€Å"model is suggested as a first step toward the development of a theory†. It is conceptual theoretical and perhaps only impressionist. One of the most difficult aspects of calculating realizable value is the estimation of the value of a person’s expected services. Flamholtz had proposed that it might be desirable to use a substitute measure of surrogate, for this purpose. Examples of possible surrogate measures include compensation, replacement cost and performance indexes. In an experiment designed to test the appropriateness of using these measures. Flamholtz found that all three may be relevant for this purpose. He suggested that the choice of the ‘best’ measure in a specific situation will depend on the intended use of the data. To summarize, according to Flamholtz, the measurement of human resource value of an individual to an organization requires the following: Estimate the total time period during which the individual can be expected to render services to the organization. Identify the various service states (i. e. position) that the individual may occupy during the time he is with the organization. Measure the value derived by the organization if the individual occupies the various service states for the specified time periods. Estimate the probability that the individual will, in fact, occupy each state at the specified future time. Akintoye’s Model Akintoye in 2006 proposed the ‘Net Benefit Model’ to human resources accounting in service organization as an expectation of the earlier conventioned models of Morse (1973), Lev and Schwartz (1971, 1972) and Flamholtz (1971, 1972). In this type of an organization, the estimate of benefit generation is a relatively simple exercise. Each employee has a stipulated and readily ascertainable billing rate and amount of time (measured in billable hours) over his or her estimated useful life with the organization. That may be other types of organizations that give themselves to parallel measurement like doctors and lawyers. The Net Benefit Model as proposed by Akintoye is hereby stated in it most general form below, thereafter the suggested constructs are explained and illustrated in details. Cij=j=1nk=tE-t1(1+r)c? Bqj Equation 1 Where *Figure 1: Adjusted Net Value of Human Resource for the *Organization The equation 1 above tells us that the total adjusted net present human resources benefit of a services organization is equal to the summation, discounted certainty-equivalent net benefits of the employees in the organization as shown in the above figure. The major thrust of this work is to conceptualise the determinations of certainty-equivalent net benefit streams generated by each individual, after all, the individual are determined, the total human resources benefit for the organization can be resolved by relatively simple procedures of discounting aggregation (Equation 1 and figure 1 refer). {draw:frame} Figure 2: Major Determinants of Certainty Equivalent Net Benefits {draw:frame} Empirically, analysis made by Walker (1995) with the aid of diagram showed that Human Resources Accounting in services organization seeks to make managers more of the importance of people as valuable resources and to hold managers more accountable for these resources. It is also an excellent way to assess management performance in this use of human resources. In this way it is expected to encourage better planning for human resources and better decisions wherever they involve people. Lastly, Human Resources Accounting in service organization is an excellent way to encourage managers to take a long-run outlook towards the value of people, rather than a short-run, quick-profit outlook that ignores human resources. Figure 3 Source: James W. Walker (1995), Grolier Library Adams (1965) stated that an individual who is involved in an exchange relationship, such as exchanging services for pay in a gainful employment situation, will perceive his or her inputs in more than monetary terms. The perceived input include effort, education, experience, skill, seniority and job status. Inputs are considered relevant only if they are perceived as inputs by individual contributor. On the other side of the exchange relationship is what the individual perceives he or she is deriving from the job-outputs. These are categorized in terms of their recognition and relevance and include salary, prerequisite, prestige and personal fulfillment. The individual will make comparisons of his or her output-input ratio with the situations of others whom he or she considers equal, in an all round sense. The purpose of this comparison is for the individual to determine whether the ratio of his or her output to input is fair. In making this comparison, the individual has in mind another specific individual whom Adam calls the individual’s ‘referent’. When the normative expectation of the individual in this comparison is violated to that of his or her output-input ratio as perceived is not equal to that of his or her referent (peer), then a feeling of in equity may result. Note that in this definition of inequity, the absolute level of outputs and inputs for the individual and his or her referent is irrelevant. What determines the equity of this output-input comparison is the individual’s perception of what he or she is giving and receiving as well as what he or she perceives the referent is giving and receiving. The relationship may occur when the individual and his or her referent are in a direct exchange relationship with a third party. {draw:frame} Symbolically, inequity exists when: Where: Oi=Output of the individual. Similarly, the individual will perceive a condition of equity when: The relationship of â€Å"equity theory† to the individual’s perceived rewards and peer’s perceived reward is that when the balance of ratio of these indices is disturbed, this will affect the individual’s internal satisfaction. Also it should be clear from Adam’s model that a feeling of inequity may exist when the individual perceives his or her ratio of output as greater or less than his or her referent’s ratio. This indicates that the model is realistic and not unidirectional. CHAPTER THREE RESEARCH METHODOLOGY 3. 0 INTRODUCTION This chapter covers the method used in the collection and generation of data in carrying out this study. It deals with the basic methods, sources of data and procedures used in gathering and analyzing of data and the problem s encountered in collecting the information required for the research. 3. 1 RESEARCH DESIGN Research design means the structuring of investigation aimed at identifying variables and their relationship to one another. It is used for the purpose of obtaining data to enable researcher test hypothesis and answer research questions. In an attempt to properly carryout this research, the researcher has obtained materials from both primary and secondary data. PRIMARY DATA: Primary data is information obtained for particular purpose/problems under consideration. According to Anyanwu (1994), it is first hand â€Å"tailor made† information be it personal, by a phone and by use of questionnaire administration. This research work employed the use of closed ended questionnaires administration as its sources of primary data in order to get the business opinion on the numerous questions to be asked. SECONDARY DATA: Is information assembled for some other purpose which the researcher finds relevance to his own research and incorporates these into his own work. Sources of secondary data used in this research includes articles in journal, textbooks, post written project work, newspaper articles, Access bank Annual Financial Report. 3. 2 RESEARCH POPULATION/POPULATION SIZE . 3 SAMPLING PROCEDURES However, due to some constraints like money, time, human and material resources and other facilities; the use of the entire research population is not only difficult but not feasible. Hence, there is need for the use of a subset of the entire population. Based on this fact, the use of judgemental/non-probability sampling is employed in choosing the sample size. Sampling according to Anyanwu (1994) is a pr ocess of selecting a proportion of the population for the purpose of generalizing the result from he sample about the population itself, the target population and any other population having the same characteristics. The researcher has some element of control because in non random sampling process, the researcher selects his sample on the basis of his own knowledge of the population its elements and the nature of the researcher aim. 3. 4 SAMPLE PLAN The study employed the use of primary data through questionnaire sampled among the employees of Access Bank Plc. , service industries and professionals. A total of fifty questionnaires were administered and these questionnaires were distributed to the selected sample size. At the end, 40 completed questionnaires were personally retrieved. Thereafter, the completed questionnaire were tested for validity 3. 5 DATA ANALYSIS Based on the nature of the study, analysis has been limited to the use of Chi-Square (? 2). Data analysis contains the statistical calculations performed with the raw data collected to provide answer to the questions initiated in the research. Chi-Square (? 2) is defined as the â€Å"sum of the ratio of difference between the square of observed and expected frequencies† (Hoel Paul, 2005). It is a measure of significances and is important in hypothesis testing especially in the type of research where only people who are among the managerial staff of the institution are required to fill the questionnaires to compute the Chi-Square, we find the difference between the sum of square of the observed and expected frequencies and divide whatever is gotten by the expected frequencies. Mathematically, the Chi-Square can be expressed thus, is given as: ? 2=O-E2E O is the observed frequency. E is the expected frequency. ? is the symbol of summation If the value of the observed value is greater than the expected value, the Chi-Square will largely indicate a poor experimental agreement, if the observed value and the expected value perfectly agree with one another; the value of the Chi-Square will be zero. Indicating an excellent or perfect experimental agreement, however, the value of the Chi-Square can never be zero Taylor (1977). The degree of freedom (df) is another important feature of the Chi-Square distribution. Its computational formula is given as: df=(r-1)(c-1) The decision rule is that if the computed value of Chi-Square is greater than tabulated critical value (? ). The null hypothesis is rejected as the state of significant. If the test is less than the critical value, the null hypothesis is retained (Murray 1977). A Chi-Square test is always a one tailed test. The level of the significance is 0. 05 or 5% which will be given in the Chi-Square table. 3. 6 RESTATEMENT OF RESEARCH QUESTIONS Most income statements are inc omplete without adequate consideration and inclusion of human resources element in the financial statement. The following are the research questions: How can the monetary value of employee service be established? Can these monetary values aid the management in internal control problem? What are the possible effects of the monetary worth of employee service to the profitability of an organization? What impact would the development of employee have on the general performance of an organization? 3. 7 RESTATEMENT OF RESEARCH HYPOTHESES Hypotheses set to be tested are stated below: H0: There is need for capitalization and amortization of human resources like fixed assets in financial statement. H1: There is no need for capitalization and amortization of human resources like fixed assets in financial statement. . 8 LIMITATION OF THE STUDY Factors limiting the scope of the study are as follows: TIME: The research is expected to merge school activities as a student with gathering data for this study. Also, the staffers of Access Bank Plc have to combine their daily work with attending to the researcher using their leisure time. DISCLOSURE OF HUMAN RESOURCE ACCOUNTING INFORMATION: Company had not made any serious attempt to provide HRA information in their published annual reports and is an area which is not yet fully developed. Further to attach quantitative values to them. The report is limited to use of questionnaire to gathered relevant data. Inspite of these limitations, this investigation will yield beneficial results and the limitations of this study will not have any significant effect on the research result. CHAPTER FOUR PRESENTATION AND ANALYSIS OF DATA {text:list-item} This chapter presents and analysis the data collected from Access Bank, First Bank Plc and United Africa Company (UAC). This is done on other to find out the possibly of human resource accounting. Through this analysis, the hypothesis set forth is either validated or nullified. The hypothesis states that most income statement are incomplete without adequate consideration and inclusion of monetary value of human resource element in the financial statement, and there is need for capitalization and amortization of human resources like other fixed asset in the financial statements. The findings present in this research are based on the response on the model of data selection supporting or negating the hypothesis. SUMMAR Y OF THE QUESTIONNAIRE DISTRIBUTED AND RESPONES COLLECTED The table shows that out of 30 questionnaire representing 42. % of the total distribution which were administered to Access Bank 27 or 38. 6% were returned, leaving a shortfall of 4. 3%. 20 questionnaire representing 28. 6% of the total distribution were administered to First Bank, of this questionnaire 19 representing 27. 1% were returned leaving a shortfall of 1. 4% while 20 questionnaires representing total distribution were administered to UAC, 18 representing 25. 7% were returned but 2 which is 2. 9% of the questionnaire were not returned. It should be noted that all returned questionnaire were used in this research based on the responses to the question. The researcher decides to select questions closely related to the hypothesis for the testing of the hypothesis. {text:list-item} Earlier in this research, it has been show that different schools of thought exist in respect of human resources accounting. In order to ascertain possibility of human accounting the analysis of all the questions will have to be used {draw:frame} TABLE 4. 2: DISTRIBUTION OF RESPONDENTS BY EDUCATIONAL QUALIFICATION {draw:frame} TABLE 4. 3*: DISTRIBUTION OF RESPONDENTS BY *HOW LONG THEY HAVE BEEN IN THE ORGANIZATION {draw:frame} TABLE 4. *: DISTRIBUTION OF RESPONDENTS BY *MARITAL STATUS {draw:frame} TABLE 4. 5*: DISTRIBUTION OF RESPONDENTS BY *COMPANY THEY WORK {draw:frame} TABLE 4. 6*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"HAVE YOU HEARD ABOUT HUMAN RESOURCES ACCOUNTING? † {draw:frame} From the above, 64 respondents answered the question. 85. 9% have heard about human resource accounting, while 14. 1% said they have not heard about human resources. TABLE 4. 7*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THAT THE SKILL OF EMPLOYEE CAN BE MEASURED IN MONETARY TERMS? † {draw:frame} Out of the 55 respondents who have agreed that they have heard about human resources accounting, 56 agreed to the fact that the employee skill can be measured in monetary terms, while 8 respondents said the skill cannot be measured in monetary terms. TABLE 4. 8*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THIS SKILL *IS *TRUELY REFLECTED IN THE FINANCIAL STATEMENT OF AN ORGANIZATION? † {draw:frame} 48 out of the 64 respondents says that the skill is not truely reflected in the financial statement, while 16 said the skill is truely reflected in the financial statement. TABLE 4. *: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"ARE YOU SATISFIED WITH THE PRESENT METHOD WHEREBY HUMAN RESOURCES IS REFLECTED IN FORM OF SALARIES AND WAGES ONLY? † {draw:frame} In the above question 47 respondents replied that they were not satisfied with the present method whereby human resources is shown in form of wages and salaries. 17 respondents believed that it were to shown in form of wages and salaries *TABLE 4. *10*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU FEEL THAT HUMAN RESOURCES SHOULD BE CAPITALIZED AND AMORTIZED LIKE OTHER FIXED ASSETS? † {draw:frame} Out of the 64 respondents, 53 believe that human resources should be capitalized and amortized with other financial assets, while 11 respondents said human resources should not amortized and capitalized. TABLE 4. 11*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK MONETARY WORTH OF AN EMPLOYEE SKILL OR SERVICES CAN AFFECT THE PROFITABILITY OF AN ORGANIZATION? † {draw:frame} 58 i. e. 90. 6% were of the opinion that the monetary worth of an employee can affect the profitability of organization, while 9. 4% were of the view that such cannot affect the protability of the organization. TABLE 4. 12*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THIS MONETARY VALUES OF HUMAN RESOURCES CAN THUS BE JUSTIFIED LIKE ANY OTHER ITEMS IN THE INCOME STATEMENT? † {draw:g} 54 respondents states that the monetary values of human resources can be justified like other items in the income statement, i. e. they can be treated and adjusted in the financial statement, while 10 respondents says otherwise. TABLE 4. 12*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THAT HUMAN RESOURCES ACCOUNTING IS POSSIBLE? † {draw:frame} 82. % of the respondents felt that human resources accounting because in production we cannot do without human factor, while 17. 2% feel that human resources accounting is totally impossible. TABLE 4. 13*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK INCOME STATEMENT IS COMPLETED WITHOUT THE CAPITALIZATION ND AMORTIZATION OF HUMAN RESOURCES? † {draw:frame} 51 respondents believe that inco me statement is not completed without the capitalization and amortization of human resources, while 13 respondents believe that there is no need for the capitalization and amortization of human resources. TABLE 4. 14*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK INCOME STATEMENT IS COMPLETE WITHOUT ADEQUATE CONSIDERATION OF HUMAN RESOURCES? † {draw:frame} 55 respondents maintain and believe that human resource elements are not well handled in the financial statement which the make the income statement incomplete, while 9 respondents feels that the income statement is complete without the consideration of human resources. TABLE 4. 15*: DISTRIBUTION OF THE RESPONSE ON THE QUESTION â€Å"DO YOU BELIEVE THAT HUMAN RESOURCES ACCOUNTING WILL HAVE IMPACT UPON CORPORATE FINANCIAL REPORTING IN THE FUTURE? † {draw:frame} 7. 8% of the respondents believe that human resources will have no impact upon corporate financial reporting in the future. 92. 2% felt that human resources accounting will have great impact upon corporate financial reporting in the future. TABLE 4. 16*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"ARE HUMAN RESOURCES (PEOPLE) THE MOST IMPORTANT ASSET OF AN ORGANIZATION? † {draw:frame} TABLE 4. 7*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO HRA INFORMATION PLAY ANY ROLE IN MAKING INVESTMENT DECISION BY INVESTORS AND OTHER USERS? † {draw:frame} 58 out of the 64 respondents felt that human resources accounting will play an important role in making investment decision by investors. 6 respondents believe that human resources accounting cannot affect investors’ decision in making in investment decision. {text:list-item} Question 5 and 10 give response to the null hypothesis which is to be tested. CHI-SQUARE TEST {draw:frame} {draw:frame} CHI-SQUARE TEST {draw:frame} {draw:frame}