Strict Liability Essay Example | Topics and Well Written Essays - 2500 words

Strict Liability - Essay Example The present study would focus on a strict liability offence is defined as one where â€Å"no mens rea need[s] be proved as to a single element in the actus reus†. Strict liability is also apparent when it has at least one element in the actus reus, even without the related mens rea. Strict liability lacks the mens rea element in relation to one of more elements related to actus reus. One of the classic examples of this case was seen in the R v Prince case where the conviction was based on the fact that the Offences against the Person Act 1861 were violated. In this case, Section 55 stated that whoever was to take an unmarried girl, one below the age of 16 years, out of the possession and against the will of her father or mother would be strictly considered liable for a misdemeanour. Strict liability is sometimes used interchangeably with absolute liability. As such, confusion is often seen between these two terms. Nevertheless, it must be understood that absolute liability ref ers to the liability without mens rea in conjunction with actus reus and without any defence like duress or compulsion â€Å"other than the fact that the defendant is under 10†. Strict liability is the liability imposed regardless of mens rea (in relation to actus reus); on the other hand absolute liability is liability even with the lack of mens rea (in conjunction with actus reus) â€Å"without the availability of any defence other than the defendant is under 10†. ... 141). Strict liability is the liability imposed regardless of mens rea (in relation to actus reus); on the other hand absolute liability is liability even with the lack of mens rea (in conjunction with actus reus) â€Å"without the availability of any defence other than the defendant is under 10† (Oxford University, n.d, p. 141). In instances when a state has favourable reasons for wanting to reduce certain acts and incidents, the reasons behind such prohibition may be associated with the harm principle, where incidents which would cause harm are being prevented. An example of an act which may be regulated by the state is driving. This is an act which can be defined without having to refer to a mental element (University of Pennsylvania, 2003). There may however be instrumental reasons which can be used to define the prohibition and regulation of the act as a strict liability act. In reviewing the benefits of imposing strict liability, a benefit may be seen in terms of cost. B ased on administrative assessments, costs before and during the adjudication of a case would likely be reduced with the application of strict liability policies (Oswald, 1993). The elements which have to be proved and tried in court would be reduced and issues encountered also largely minimized. The element of cost is significant because criminal justice often racks up significant costs (Page, 1986). If states would require proof for the commission of any offence in compliance with the elements of actus reus, the implementation of criminal justice would be largely unaffordable and significantly challenging for both the offended parties and the state. Strict

Why does this author deserve his place in literary history Essay

Why does this author deserve his place in literary history - Essay Example his skills in writing as his way of speaking up and expressing his thoughts about the Black American’s family life, the social violence within the society, bias treatment of the white Americans over the African Americans when it comes to educational support, some political issues, and their desire to have equal freedom with the white Americans. In the process of writing, his novels and poets made him able to contribute a significant impact over the lives of many people including the history of the African American collection of cultural literatures. Today, the works of Hughes is widely used in the study of ethnic and cultural diversity. To some extent, Hughes writings enable the readers to understand the cultural discontinuity as well as the social and psychological damaging effects of being a subject of slavery in the past. (Comer, 1989: 213) As a way of proving Hughes’ worth on the history of literature, it is necessary to discuss and examine Hughes’ specific contribution to the African American society. To do so, I will Langston Hughes has written many books and short stories about the lives of the African Americans. Back in 1934, he wrote ‘The Ways of White Folks’ that describes some of the most tragic interactions that have occurred between the white Americans and the Afro-Americans in a humorous way. (Rampersad, 2001: 207; Rampersad, 1986: 277) The story also highlighted a general pessimism regarding racial issues and satirical realism. (Rampersad, 2001: 207) He also wrote a theatrical play entitled ‘Way Down South’ wherein he focused on racial discrimination issues that have been present on the lives of the African Americans for many years. (Rampersad, 1986: 366 – 369) With regards to political issues, Hughes focuses his writings on awakening the promise of Communism within the American society. In line with this matter, he wrote a poem entitled ‘A New Song’ in order to remind the Americans about the importance of a fair treatment

Financial Literacy and Stock Market Participation

Financial Literacy and Stock Market Participation Kinar Timilsina THE RELATIONSHIP BETWEEN FINANCIAL LITERACY AND STOCK MARKET PARTICIPATION BY RETAIL INVESTORS IN NEPAL 1.1 Background 1.1.1 Financial Literacy Financial literacy is defined as education and understanding of various financial areas such as personal finance, corporate finance, financial services, public finance etc. It focuses on the ability to manage personal finance matters in an efficient and effective manner, and it includes the knowledge of making appropriate decisions about personal finance such as investing, insurance, real estate, paying for college, budgeting, retirement and tax planning. (Investopedia). Financial literacy alerts individual to save money for their retirement period. Investments in financial asset helps them to increase their future wealth. Lusardi Mitchell (2008) write more financially literate people are more likely to plan for retirement and as a result they accumulate more wealth thus they participate in stock market . Guiso Jappelli (2008), Kimball Shumway (2007), Lusardi Mitchell (2006, 2007), and Lusardi Tufano (2009) (in Calcagno Monticone, 2011) confirm that knowledge about basic financ ial principles in consumer and products is scarce and may not be sufficient to guarantee that individuals make sound financial decisions. Less knowledge of financial literacy means little knowledge of financial matters and terms related to them such as interest rates and risk minimizing techniques. Retail Investors who has little or no knowledge of finance, that is a person who is not financially sophisticated, is more likely to fall prey to high cost borrowing and pay a great amount of money to attainment different financial services (Lusardi and Mitchell, 2011) . The financially literate persons have more financial wealth (Lusardi, 2004). The leading to the financial crisis of 2007 was financial illiteracy . It is important for decision makers to integrate financial knowledge and skills with real life processes leading to better financial interests (Atkinson and Messy). 1.1.2 Stock Market Participation Share trading in Nepal dates back to 1937 when the flotation of shares by Biratnagar Jute Mills Ltd. and Nepal Bank Ltd commenced the share trading which were involved in opening plantations in Nepal . The establishment of a formal stock exchange took place in 13 January 1994 with the incorporation of the Nepal Stock Exchange (NEPSE), which took over the Securities Exchange Center Ltd. established in 1976. It currently has a membership of 2 market makers 50 stock brokers. As per the Securities Act 2007, rules and by-laws they operate on the trading floor. The Nepal Stock Exchange (Nepal) is the main stock exchange in Nepal. It is one of the modern stock exchanges in South Asia, providing a fully automated trading platform. NEPSE operates the market on the NEPSE Automated Trading System (NATS. It adopts the principle of an order driven market. NATS is used to purchase sell physical as well as dematerialized securities. The basic objective of NEPSE is to create without cost marketability and liquidity to the government and corporate securities which is done by facilitating transactions via market intermediaries such as brokers and market makers, etc. in its trading floor. The headquarters of the NEPSE have been situated at Singha Durbar Plaza, Kathmandu Nepal Nepal Stock Exchange is the only stock exchange licensed by the Securities Board of Nepal (SEBON). It was nearly 23 years ago that, formalized share trading commenced in Nepal under the Government of Nepal and trading was conducted under the rules and by laws formulated by the Association. It was only as recent as in 1994, that share trading in Nepal took a new turn with the establishment of a public trading floor and the introduction of the open outcry system of trading until 2007. In 2007, NEPSE moved to screen-based trading from open outcry by setting up Wide Area Network. It enabled stock brokers to be connected with NEPSEs server from their offices. The partial automation of stock trading has helped boost transaction volume. NEPSE has adopted a T+3 system. It implies that after 3 days of Trading, settlement of transactions should be done. The clearing and settlement procedures of the Nepal Stock Exchange were automated in 2011 with the establishment of the CDS and Clearing Limited. It is a company established under the company act promoted by NEPSE. The depository is known as the Central Depository System (CDS). CDS performs the role of central depository for Equity, Bonds etc. to handle these securities in dematerialized form. In 1994, an Over the Counter market for trading of unlisted shares was introduced for the first time in Nepal, Securities Exchange Center (SEC) managed the operation of secondary market over-the-counter facility. The delisted firms and state-owned corporations registers with the over the counter market (OTC) to allow trade of their shares. Shares without others finding out the price at which the transaction was done, can be bought and sold at the OTC market. Thus, the OTC market is less transparent than stock exchanges, and are also subject to fewer regulations in practice. The OTC market is rarely used to trades shares in Nepal. In 2012, shares of Nepal Bank Limited were traded in the OTC market for the first time where 71,928 Nepal Bank shares were transferred to its 2,664 employees that belonged to government. SEBON as the market regulator has been concentrating its efforts on intensifying statutory and legal frameworks which are the bases for the healthy development of Nepalese stock market. The main objective of SEBON is to flourish and safeguard the interest of investors by regulating the securities market, to supervise the entire stock market, sale and distribution of securities and purchase, sale or exchange of securities. SEBON provides licenses to stock exchange and securities business person. It also monitors the activities carried by stock exchange to know if they are in accordance with the laws, bye laws or not. As per the securities regulations the depository functions such as safekeeping, deposit, and securities certificates withdrawal and transfer of ownership/rights of the said instruments of Securities will be carried out by SEBON. Nepalese stock market is still underdeveloped and there is lapse that needs to be identified. Hence, the present study is conducted in order to f ind investors awareness and participation in Nepalese stock market. 1.1.3 Retail Investors in Nepal Investing Answers defines retail investors as an individual who purchases securities for his or her own personal account rather than for an organization. Generally retail investors trade in much smaller amounts than institutional investors such as pensions and mutual funds. Unfortunately, there is no data on the investors. But estimates are that there could be nearly 1 million retail investors (Ghimire, 2016) .The major problems of the stock market are unavailability of information, influenced by small number of large investors, insufficiency of legal rules and regulations, insufficient number of brokers and issue managers rumor based market, insufficient knowledge of investors etc. The retail investors are mainly driven by the rumor based market. (Dahal, 2010) . 1.1.4 Stock Market Participation and Financial Literacy While reviewing the previous research, I found that financial literacy can have direct implications on stock market participation by retail investors . People with low financial literacy are more likely to have problems with debt (Lusardi and Tufano 2009), are less likely to participate in the stock market (van Rooij, Lusardi and Alessie 2007), are less likely to choose mutual funds with lower fees (Hastings and Tejeda-Ashton, 2008), are less likely to accumulate wealth and manage wealth effectively (Stango and Zinman, 2007; Hilgert, Hogarth and Beverly 2003). 1.2 Statement of Problem There has been few research conducted on financial literacy in Nepal. Some of them are (Bharat Singh Thapa, 2015) College students have basic level of financial knowledge and their level of financial knowledge is determined by their family income, age, stream of education, type of college they study and their financial attitude. The study found that in basic level of finance, students are more knowledgeable while students are less familiar with bank credit, taxes, financial statement, insurance, and share markets. (Chaulagain, 2015) Financial literacy of individuals increases the likelihood of access to sustainable finance for identifying and consuming appropriate financial services competitively. The financial literacy is necessary but not sufficient condition for enhancing access to finance, neither it is a panacea for all the financial problems. Baidhya and Parajuli (2004) Awareness increase amongst the general public about the capital market, regarding nature of risk and return, through promotional campaigns, seminars, publications, and programs in FM/TV etc. In those research, they are focused about determinant of financial literacy and stock market awareness. In this research, we are concerned about the relationship between financial literacy and stock market participation by retail investors in Nepal. Probably this research has never been conducted in Nepal before. This research tends to meet the shortcoming of comprehensive measures of financial literacy and is linked with the economic outcome: Stock market participation by Nepali retail investors. 1.3 Research Objectives The main objective of this study is to find out the relationship between financial literacy and stock market participation by retail investors in Nepal and to measure retail investors financial knowledge. 1.4 Significance of the study The findings of this study will be useful to Nepal Stock exchange (NEPSE), Security Board of Nepal (SEBON), Policy makers, individual retail investors and different government agencies. With the help of my research, people will be able to know the impact of financial literacy on stock market participation by retail investors. My research will help the academic sector and business school students. Part of the core activity of the Securities Board of Nepal is investor education and awareness. As such the SEBON has a division to facilitates this divisions. Different financial awareness programs have been actively conducted over the years in diverse location. With this research, SEBON can formulate targeted financial literacy programmes, especially on stock market. 1.5 Limitation of the study There will certain limitation while doing this study . There is time constraint of 6 months Study is conducted in Kathmandu area only . The respondent while doing survey may not be willing to give the proper data 1.6 Research question/hypotheses Research Question What is the relationship between financial literacy and stock market participation by retail investors in Nepal? Hypothesis 1: Null Hypothesis: (There is no significant relationship between financial literacy and stock market participation by retail investors in Nepal.) Hypothesis 2: Null Hypothesis: (Gender, age, level of education and specialization on personal financial management has no impact on stock market participation by retail investor in Nepal) . 1.7 Theoritical framework       The theoretical framework is developed as it serves as a foundation on which the entire research is based . Investors awareness is referred as the investor literacy and updated information about the investment environment. InvestorsÃâ€" ³ exposure and information about the industry is measured by the level of awareness. Many research has been conducted in this area. some of them are: Paudyal (2010) Nepal particularly can learn from Indian market. India has formed National Institute of Securities Market (NISM) with huge physical infrastructure with the collaboration of industrial houses and different universities regarding investors education and awareness. Similarly, it can learn in the areas of the functioning of stock exchange central depository system of securities, instruments diversification, investors education and awareness building, adoption of information technology and opening the secondary market for NRN and foreign institutional investors (FIIs). Baidhya and Parajuli (2004) Promotional campaigns, seminars, publications, and programs in FM/TV etc. can be used to increase awareness amongst the general public about the capital market, regarding nature of risk and return. Volpe et al. (2002) Investors knowledge varied with peoples age, experience, education, income and gender. The online investors are more likely to be influenced by financial misinformation and manipulation. So, they should have more knowledge about stocks than normal investors to succeed in the securities market. Maditinos et al. (2007) Professional investors rely more on fundamental and technical analysis whilst individual investors rely more on noise in the market and newspapers/media when making their investment decisions. Jagongo and Mutswenje (2014) The very important factors that guide individual investment decisions were: reputation and firms status in industry, expected corporate earnings, expected divided by investors, and past performance firms stock. Luigi Guiso and Tullio Jappelli on Awareness and Stock Market Participation was conducted in 1995 and 1998. The objective of this study was a) to analyze the lack of awareness of financial assets (1995 and 1998) in Bank of Italy Surveys of Household Income and Wealth. b) to explore the determinants of awareness c) to find that the probability that survey respondents are aware of stocks, investments accounts and mutual fund is positively correlated with education, household resources, long- term bank relations and proxies for social interaction. Haliassos and Bertaut (1995) They investigated factors explaining financial education and finding among its results whether university education influences more weight in the decision to invest in the stock market or those with lower educational provision, preferring savings deposits as an investment option. Attanasio, Banks, and Tanner (2002) They studied about implications of limited participation in stock markets and the asset market. Their finding shows that a) the probability of having or invest in assets, is associated with factors such as age, and educational level b) the positive effect of higher education in the stock market tends to decrease over time. Roncallo (2009) In his findings, Colombian capital market was backward in comparison to developed countries, Latin American countries, and several Asian countries due to the lack of knowledge and awareness of the general public and businesses. And also, highlights that the creation of specially designed market such as the Centre for development of the capital market institutions, for the strengthening and development of this market, has failed to make a real impact on the target audience i.e. businesses and the general public, evidenced in the lack of knowledge about the importance and functioning of the capital market. (Chaulagain, 2015) Financial literacy of individuals increases the likelihood of access to sustainable finance for identifying and consuming appropriate financial services competitively. The financial literacy is necessary but not sufficient condition for enhancing access to finance, neither it is a panacea for all the financial problems. Baidhya and Parajuli (2004) Awareness increase amongst the general public about the capital market, regarding nature of risk and return, through promotional campaigns, seminars, publications, and programs in FM/TV etc. 3.1 Research Design A detailed outline of how an investigation will take place. A research design will typically include how data is to be collected, what instruments will be employed, how the instruments will be used and the intended means for analyzing data collected (Business Dictionary, 2016) . Descriptive survey research design will be used because research intended to explore the relationship between different variables which forms financial literacy and stock market participation by retail investors . 3.2 Population and Sample Size The population of study will be comprised of key players in the stock market, which includes investors, employees working in stock market and stock brokers. This study will be based in capital city Kathmandu, where stock market activities are concentrated and people get involved in share market from around the country. The sample size for study will be as per convenience-sampling technique and respondents will be selected as per their convenient accessibility. 3.3 Nature and Source of Data This study is both quantitative and qualitative in nature. It uses primary data obtained through questionnaires for analysis. Questionnaires are the most commonly used instrument in gathering and measuring qualitative data because they present the same questions to all respondents thereby fostering a comparable basis for assessment. 3.4 Instrumentation of Data Different statistical techniques will be used for analyzing data, which includes regression analysis and descriptive statistics . Graphs, frequency tables and charts were used for results 3.5 Models Specification The model that will be used in this study is based on the equation and econometric model adopted from Chong Lal, (2011) as below Y= ÃŽÂ ²0 + ÃŽÂ ²1 +ÃŽÂ ²2 +ÃŽÂ ²3 +ÃŽÂ ²4 + à ¢Ã‹â€ Ã‹â€  Where: Y = Stock market participation. ÃŽÂ ²o= constant term ÃŽÂ ²1 = Financial Literacy Score ÃŽÂ ²2 = Age of respondent ÃŽÂ ²3 = Gender of respondent ÃŽÂ ²4 = Income of respondent à ¢Ã‹â€ Ã‹â€ = disturbance term with an expected value of zero. The model helps better understand how the independent variables are related to the dependent variable and explored the form of their relationship. 3.6 Reliability and Validity of Data The research superviser and research expert of Business school will be requested to evaluate the applicability and validity of the research . Pre-test and re-test method will be done before the actual research . Bharat Singh Thapa, S. R. (2015). Financial Literacy in Nepal: A Survey Analysis from College Students. Financial Literacy in Nepal: A Survey Analysis from College Students, 26. Business Dictionary. (2016, 12 17). Retrieved from BusinessDictionary.com. WebFinance, Inc. : http://www.businessdictionary.com/definition/research-design.html CDS and Clearing Limited. (2011). Retrieved from CDS and Clearing Limited: http://www.cdscnp.com/ Chaulagain, R. P. (2015). Financial Literacy for Increasing Sustainable Access to Finance in Nepal. NRB Working Paper series, 18. Dahal, S. (2010). A STUDY ON NEPALESE STOCK MARKET IN THE LIGHT OF ITS GROWTH, PROBLEMS AND PROSPECTS. Kathmandu. Ghimire, S. (2016, December 8). Retail Share Investors In Nepal. (K. Timilsina, Interviewer) Investopedia. (n.d.). Retrieved from Investopedia: http://www.investopedia.com/terms/f/financial-literacy.asp Investopedia . (n.d.). Retrieved from NASDAQ: IAC: http://www.investopedia.com/terms/o/over-the-countermarket.asp Kathmandupost. (n.d.). Retrieved from Ekantipur: http://kathmandupost.ekantipur.com/news/2015-09-23/nepse-urges-otc-trade-of-shares.html NepalShareMarket. (n.d.). Retrieved from NepalShareMarket: http://www.nepalsharemarket.com/NepalShareMarket/NEPSE/Analysis/news/printerfriendly_news.aspx?news_id=NEW-003992 Securities Board Of Nepal . (n.d.). Retrieved from SEBON: http://www.sebon.gov.np/ The Himalayan TImes. (n.d.). Retrieved from http://thehimalayantimes.com/business/capital-market-may-need-another-exchange-to-spark-competition/ Wikipedia. (n.d.). Retrieved from Wikipedia: https://en.wikipedia.org/wiki/Nepal_Stock_Exchange

Essay --

â€Å"He must not take many wive,s or his heart will be led astray. He must not accumulate large amounts of silver and gold.† ( Duet. 17:17 KJV) In today’s world many people have had different views and ideas on what polygamy really is, is it morally wrong? In this paper you are going to learn what polygamy is, who practices it, the affects that it has on children, wives and the husbands, risk factors, and most importantly why it is morally wrong. The world polygamy means the practice of having more than one wife. It comes from poly meaning ‘many’ and gamos meaning ‘marriage. Polygamy has been around for many years, and by many years, it’s been around since the biblical ages. In the Old Testament of the bible polygamy was allowed, not only was it practiced or allowed in the Old Testament but other cultures and religions practiced polygamy as well. These religions included Hindus, Muslims, and Christians. The Old Testament gives multiple examples of men being married to more than one wife at a time. The patriarchs Abraham and Jacob are known to be examples of righteous men who had several wives in the Old Testament. It is said that in ancient times when a man had more than one wife or wives and concubines(a woman who lives with a man but has lower status than his wife or wives) these wives and concubines were segregated by position and authority within the husband’s family. The first wife held the highest position and it was to her first –born son that the husband’s inheritance was given. (www.bibleresearch.org) Although there and many reasons as to why people practiced polygamy, some of these reasons were family reasons, personal reasons, and religious reasons. Practicing polygamy you would share family responsibilities, more freed... ...KJV) â€Å"And if a man take a wife and her mother, it is wickedness: they shall be burnt with fire , both he and they; that there be no wickedness among you ( Lev. 20:14 KJV) The first quote is stating that a man cannot be married concurrently to two women who are sisters, while the second quote prohibits a man taking a woman and her mother as wives, or they will be executed by fire. The quotes both go to show you in a religious way that polygamy was wrong, and still is. In Genesis 2:24 it says â€Å"Therefore shall a man leave his father and his mother ,and shall cleave to his wife: and they shall be one flesh† . Note in that particular verse it says â€Å"wife† not â€Å"wives†, and that’s how it should be. There fore it is morally wrong to practice polygamy, and if one feels that it is not, maybe they should rethink their values, and what they consider morals to really be.

The Wholefoods Company

At the wholefoods company most entry level employees make $10. 86 on average. This averages out to about 21,000 a year. This may not seem to be a very comparable pay scale, but their benefits out ways the pay. With a very extensive benefits package wholefoods has effectively been able to entice workers to be a part of the company. The company offers medical, dental, 401k, personal wellness account, health care reimbursement, dependent care reimbursement, life insurance, disability insurance, team member stock option plan, team member stock purchase plan, team member discounts, team member emergency sharing account, and gain sharing.Having all of these benefits outweighs the pay scale for most employees. They give good raises when promoting in the company as well. Most raise within the company are close to 1. 5%. The goal of employees in wholefoods would be to work their way up the chain of command to make more money. Store team leads within this company on average make $60, 171 a yea r. There are many other team lead positions within the organization that all pay close to $14 an hour. Being that there is a team lead position for each department of whole foods there is room for improvement and growth within the company.Wholefoods can turn into a career for any hard working employee. One purposed change that the company could make to their pay structure to increase their marketability to the workforce could to be to increase the raise percentage from 1. 5% annually to 3% annually depending upon productivity. Make the raise structure be based of productivity the more productive employees will earn 3% rises whereas the non-productive employees only get 1%. This change can also prove beneficial to the company as a motivation tool. (Whole foods market, pay scale and benefits ,2013)

Eastern Foods Essay

Introduction You need to do the same research and prepare before open a new restaurant. As a member of UK planning team, I need to provide a report about the challenges facing Eastern Foods in next few months, which is very important thing for starting your business. AS the saying goes, everything is hard in the beginning, to open a new restaurant, it will certainly encounter problem. For example, there is no way to attract customers at a loss or gain customers but no profits which lead restaurant have a normal business. Furthermoreï ¼Å'complaint due to food safety issues. Next, recruitment and post-training. For a manager, it is also essential psychological qualitiesï ¼Å'and can clarify the problem & make logical decisions and take the initiative & respond flexibly to change situations. Hence, writing a report can help you know that what issues you will meet and let you can do psychological preparation. The challenges  HRM Human resource management (HRM, or simply HR) is the management process of an organization’s workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. (WIKIPEDIA, 2014) Thus, developing Eastern Foods which need the HR department must prepare in advance and qualified candidates to start. We need make a plan to attract people join us, and we will face the choice of employees that what we need employees, managers, chef and waiter or other to do and they must meet our satisfactions. Whether the recruitment of employees and compliance with labour laws and the principles of justice. Organization is not a simple tree, pulp, machinery or inventory. Human resources management involves the application of management functions and principles. Its function is applied to the recruitment, mining, maintenance, and reward employees. The staff’s decision must be adjusted. On different aspects of the decision-making of employees, it must compete with other human resources (HR). Decisions will certainly affect the validity of a restaurant. The effectiveness of an organization must lead to improved services to customers at a reasonable cost to provide in the form of high-quality products. Accounting Accounting will directly affect the financial restaurant, a clear accounts will undoubtedly bring many convenient restaurants. The results reflect the elements of corporate accounting. 1. Revenue Income is an enterprise formed in daily activities, which will lead to an increase in owner’s equity and the total inflow of capital has nothing to do with the economic interests of the owner of inputs. 2. Costs Cost refers to an enterprise in their daily activities, which will lead to decrease in owner’s equity, and profit has nothing to do with the distribution of the total outflow of economic benefits to the owner. 3 Profit Profit is an enterprise in a certain accounting period operating results. Net income includes profit after subtracting expenses, gains and losses directly recognized in current profit and so on. Directly included in the current profit gains (Gain) or loss (Loss), which shall be included in profit or loss that refers to will lead to changes in the occurrence of changes in owners’ equity, and the owner of the invested capital or profits unrelated to the owner or the distribution of profits loss. Marketing Marketing is an important part of business operations and includes a number of different activities. Marketing is now seen as essential to the success not only of manufactures, retailers, and other businesses but also of government agencies, hospitals, law offices, schools, and churches. (James Burrow, 2008). We need to do some research before open a new restaurant. The first aim of marketing is to create customers, acquire and maintain customers; To consider how to effectively compete head to defeat invincible from a long-term perspective; Focusing on market research, collecting and analysing large amounts of information under the change of environment and market, and the only way has to make the right decisions in different cases; such as Active promoting innovation, which is proportional to the degree and effect; Conducted in a changing decisions, which requires its makers have a strong ability like entrepreneurs insight, discernment and decisiveness.  Henceï ¼Å'We need to consider how to expand our market to attract customers. Operations Management Everything seemed ready, the restaurant will begin operations management. Operations management is targeted at operational processes and operational systems. Operations management is an investment operation process, convert, process output.it also is a labour process or value-added process, which is the first large object operations, operators must consider how to carry out operational activities such as production planning, organization and control. If the operator improper control which easily lead restaurants into a loss situation. Operations Management deals with the design and management of products, processes, services and supply chains.ï ¼Ë†MITSloan managementï ¼Å'2014ï ¼â€° The main objective of enterprise operations management is to control quality, cost, time and flexibility, which is the fundamental source of corporate competitiveness. Therefore, operations management has an important role in the business. Operational departments will face these challenges, and propose specific work goals, developing specific means to achieve goals and approaches, clear goals. Key issue Accounting Accounting is the currency of the main units of measurement, using a range of specialized methods, accounting and supervision of an economic management of a unit of economic activity, which is designed to provide accounting information and economic efficiency. Accounting work is an important guarantee for improving cooperate governance, which requires to have some work experience in professional accounting staff to help managers of restaurants, and can earn more profits for the restaurant. A simple order to load the software onto your computer (see appendix I), or a suitable business accounting software also is very important (see appendix â… ¡). And in the eyes of many, business accounting is the general accounting bookkeeping, accounting reports afterwards and not specifically involved in the management of the business, even if part of the work involved in business management, but also the financial managers who do it. In fact, divided by the statements of accounting methods for other management staff provides company information, directly or indirectly involves in the company of  management. Whether it is cost accounting, reimbursement, billing or accounting, cooperate insiders budget execution and supervision of the first person, from material procurement to sales outstanding, adoption of the budget, compare prices, credit management, indicators and contrast. Accounting oversight fulfill all the functions, which all involved in corporate management. There are two questions to discuss. First, does not pay attention to the overall budget. The budget only stays in budget, completely ignoring the fee budget. Companies are not able to master the use of a comprehensive budget implementation status of strategic objectives, resulting in a waste of corporate finance, food, and human and other resources. Catering enterprises due to lack of effective overall budget, which is not able to adjust business strategy in a timely manner in accordance with market changes. Next, accounts of chaotic management, accounting is not timely. Many food and beverage companies with a breakdown of the property chronological mix of raw materials. For the food and beverage industry is concerned there will be a lot of consumables, and many companies do not have this set up a separate subsidiary ledgers. As the catering business for the accounts do not pay attention, for a serious lack of original documents, certificates and registration does not match the original accounts. Financial accounting irregularities exist very original certificate changes, account card can’t be consistent. Such as consistent account statement, account match the reality, in line account statement. Accounts of accounting is not timely, resulting in a breakdown of the accounts do not match with the total accounts. Marketing That marketing. This post is divided into two types, one is called front-end marketing, the other is called the back-end marketing. Both the role and position are different, qualities and abilities needed to be different. Front-end sales and marketing in order to serve as the core of the sales company, which is responsible for market development and promotion to stimulate customer demand, they did no matter how the product is manufactured, just out of the product promotion. Of course, a good front-end marketing staff will promptly to customer WHO needs feedback to the back-end marketing AND go to help understand the various back-end marketing target market dynamics and customer needs. The back-end marketing, research and  development in manufacturing as the core segment, the pre-market survey is responsible for product definition and development, which is to understand the market, understand the competition, understand target customers, and according to the market, customers and co mpetition to complete the new product Definition – a complete description of the product-specific documentation. All aspects of the catering business activities are inseparable from the consumers , constantly studying and changing consumer demand , while consumer demand to develop and deliver the food to adapt products to meet consumer demand which has become a synonym for catering business large operators how to treat customers, employees continue to instill the concept of the right customers ; small staff of each service , customer preferences are all trying to figure out to do market positioning , we must figure out who is your target customer and What are their characteristics, such as income, spending habits, . Then we develop targeted promotion. Do not blind pursuit of high profits, location, price, and features which are not unified, and cost less than consumer expectations, completely ignoring consumer psychology and consumer needs of the guests. Not with changes in market conditions and the relative adjusted so that the food does not adequately reflect the variety of price point factor in the difference in price, guests can’t adapt to the different needs of consumer motivation. In today’s technologically advanced world, such as the Internet, wechat, facebook, buy, review sites, etc. These fashion marketing, restaurant operators are embodied acclimatized. Which always wanted a simple way to accomplish more complex thing. Bosses nothing wrong result, and one-sided emphasis on the results without knowing basically failed process. Restaurant carrying out marketing activities in the process, there will be adverse environmental factors leading to damage or failure, so you must know how to transform strain markets, strengthen research marketing environment, the establishment of risk prevention and treatment agencies, face risk head-on, and improve the quality of restaurant employees. Conclusion The restaurant industry is extremely competitive. It’s difficult to be and stand out amongst the hundreds, if not thousands, of other restaurants in your local area; whether it’s the food, customer service or brand, customers will consistently critique your restaurant and even the smallest error could stir up a storm. (Sammy Jo, 2013) Opening new restaurants, will face many challenges, first, to choose a good location which can bring more customers, and also make it easier for customers to remember your restaurant, then the product positioning, elect their own signature dishes can be customized with the positioning of the menu. Then, it can be renovated, rising consumer demand of customers, store environment position in restaurants has become increasingly high, a good environment, and sometimes can be a key factor in the success of the restaurant. This comes into play when the external environment. The human resources department is responsible for hiring, and training employees on the audit. Then for the restaurant staff to begin custom equipment, such as kitchen equipment, customer use chopsticks, etc, which is the soul of a leader, and the organization is a corporate body. Organizational strategy is to create and run a business which is not only an internal team competition THAT needs external lateral and vertical industry chain to support the organization’s business, because the strategy is implemented by the organization. Excellent organizational strategy, first set aggressive strategies and goals, and implementation strategies needed to build possess excellent organizational effectiveness of the implementation of the system, and continue to temper their own sustainable development, building efficient enterprises to continue to promote a positive goal. Restaurant management also needs leaders who will link together the various departments, and less any one department will lead to failure, therefore, whether it is accounting, marketing, human resource management or operational management which will even encounter different challenges that we must face yes, because they are an essential part of the restaurant. Reference 1. Sammy Jo. 2013 Challenges of Operating a Restaurant. LERA BLOG. Weblog [Online] 24/07. Available from: http://lerablog.org/business/management/challenges-of-operating-a-restaurant/ [Accessed 24th March 2014] 2. WIKIPEDIA, (2014) Human resource management. Available at: http://en.wikipedia.org/wiki/Human_resource_management [Accessed 24th March 2014] 3. James Burrow, (2008) Marketing. 4. MITSloan managementï ¼Å'ï ¼Ë†2014ï ¼â€°What is operations managementï ¼Å¸. Available at: http://mitsloan.mit.edu/omg/om-definition.php [Accessed 26th March 2014] Appendix I Source: www.brothersoft.com â… ¡ Sourceï ¼Å¡www.businessoftware.com

This essay discribes the roman bathing system.

This essay discribes the roman bathing system. Many Romans visited the Thermae or the public baths, as we know them. Bathing was a very important in Italy, as there were over 900 baths by 300 AD.The baths were huge buildings built by emperors or by the public. On the inside, they looked luxurious. An average bathhouse would have mirrors on the wall, ceiling covered in glass, rich marble lining the pools and complicated mosaics decorated the floor.Here is a picture of a small privet bath. All baths consisted of mainly the same things, and would be visited in this order. First, they went to the Apodytarium. This is were you would get undressed and oils would be rubbed on your body. Then after bathing you would scrape it of with an instrument called a strigil. Next, you would enter the Tepidarium. This was a warm room with a warm pool. It would prepare you for the hotter rooms.English: The tepidarium (lukewarm bath) of the Old...After this, you would proceed to the Caldarium. When your body temperature got used to the Tepidarium her e is where you'd come. This room was very hot and as well as steamy. It consisted of hot water bathes and some even had a Laconium (a steam bath) which was extremely hot and very dry. Finally, you would go to the Frigidarium. This was a cold room with a cold pool. The main function of the Frigdarium was to cool you off after sweating in the hot rooms.To keep the baths and rooms hot the Romans used a system called the Hypocaust system. This was an underground heating system, which heated hot air from basement fires. The hot air flows through the wall ducts into the rooms and baths heating them quickly. In some bathes, the floors would be so hot that bathers had to wear wooden...