Alternatives for Capitalism in a Globalised Economy

Alternatives for Capitalism in a Globalised Economy Essential for globalized economy: Communism or Capitalism In this globalized economy now it is a big question for us that, what is the perfect economic system: communism or capitalism? By globalization we can understand cross boarder market. There is an international exchange of labor forces, ideas, capitals, knowledge, products, and services. Now we will focus on capitalism and communism and try to find out that in this globalized economy capitalism or communism, what is best suited? Is Communism applicable in globalized economy? Communism is a concept, in that ownership of land, capital and industry cannot be owned or controlled by the individual. However, under Communism the control of these things is not by a local community but by the State Government. Under this system the government has total control of everything produced and control what is made, and who will receive the goods and services produced. Under this system you are not allowed to own your own home, your own car, your own furniture, or even the food you eat. The State decides what you can use and where you will work. So, we think it is an obstacle for global economy. Because if the country determine what will be produced, how will be produced and for whom will be produced, then developed countries may notbe interested to invest in that country. At the same time Communism kills the will to work, competition, innovation and creativity, where these are the main characteristics of a worker in this modern globalized economy. Why compete to work? You wont make any more money. Why spend time innovating new ideas, or being creative, there wont be anything in it for me. As a result they fail to provide goods and services for their citizens. The Soviet Eastern Communist countries of the 20th century were noted for not having much goods and services for their citizens. Yet, the ruling class always had plenty of everything, and it was usually imported from capitalist countries. While we have rich people in America, we also have a large middle class that live comfortable lives. Even many if not most poor people in America have refrigerators, TVs, and food on the table. Since Communism controls all goods and services, the individual is at the total mercy of the State. You have no rights except those granted by the State. The old Soviet Union was a police state, with total control over its citizens.West Germany was full of cars on the Autobahns. The streets in East Germany were mostly empty, with an occasional person on bicycle, even in the middle of winter. Freedom of travel is restricted in a Communist State because they control who gets what and for how long. If you were lucky enough to get a car in East Germany, it was usually a worthless piece of junk. But, we may face a question that if communism creates hindrance to global economy, then how China runs its global economy as we know it is a communist country? Then our answer will be†¦ While China’s government may be officially communist, the Chinese people express widespread support for capitalism. And since 2002, the Chinese have been one of the strongest proponents of capitalism, even more so than Americans and Western Europeans. During last 30-35 years China has brought enormous changes to its economy. In the late 1970s, the government started opening the economy to foreign investment and privatization. With these changes came sky-high economic growth – an average of 10% since 1980. And now about 76% people of China agree that most people are better off in a free market economy. Listverse showed 10 benefits of Capitalism: Happiness If you look at this happiness map published by scholars from the University of Leicester, you can clearly see that the foremost democratic, capitalist countries like the USA, Canada, New Zealand and the whole of Europe are the happiest in the world. This is because in these countries, thanks to the free-market, whatever products people want, they can get. ViableAlternatives Perhaps the strongest argument working in favor of democratic capitalism is that there is no alternative politico-economic system which has proved itself to work in our modern age. Almost every attempted implementation of communism has failed (China – abandoned total communism long ago and are slowly creeping towards capitalism). America became socialist and imposed many strong measures on corporations to regulate their behavior, the largest companies (Trans-National Corporations) would most likely move their industry elsewhere, and potential entrepreneurs would be scared to invest in capital, irreparably damaging America’s economy. So as you can see, changing the economic system isn’t even an option. Growth Capitalism allows the economy to grow exponentially. It is a basic fact of economics that the more money a firm makes, the more it can invest in production, and the more it invests in production, the more money it makes. So long as no unfortunate events befall the firm, this growth can, obviously, continue indefinitely. Many see a problem arising with this: there are only a finite, or ‘scarce’ amount of resources on Earth, so this huge growth of production will one day run to a halt. Health There is greater awareness than ever of the importance of fitness due to government campaigns. All of these contribute to an extremely fit society, and, in desperation, one can always resort to liposuction or some other sort of surgery. Social Good It might seem at first glance that everyone is selfishly working for their own money, but dig a little deeper and it becomes apparent that every job has a benefit for someone else. Factory workers produce the products that we can’t live without; hairdressers perform a service that benefits us body and soul; and the police work to protect us and make sure we live in a lawful society. Even unpopular and ‘overpaid’ professions such as city bankers and sportsmen have a positive effect on society, whether it be helping us manage our money, entertainment or something else. Equality No matter where you start in life, everyone has an opportunity to make it big. The basic principle is that the harder you work, the greater your reward. Human Nature Being the Best Freedom Built on Democracy (Nunno, Jed Rachael, 2014) An authoritarian communist party controls Vietnam. Its true. But its founding ideology appears all but gone from the hearts of Vietnams people. Vietnam, in fact, may actually be one of the most pro-capitalist countries on Earth. Almost all Vietnamese people — 95% of them — now support capitalism, according to the Pew Research Center, which polled nearly 45 nations late last year on economic issues. No other country in the poll cracked 90%. Even in the United States — where socialist can be used as an insult — only 70% agreed that a free market economy is the best kind of economy. (Winn, 2015) References Nunno, Jed Rachael, 2014. Listverse. [Online] Available at: http://listverse.com/2010/12/24/top-10-greatest-benefits-of-capitalism/ [Accessed 24 April 2015]. Simmons, K., Spring, 2014. Global Attitude Survey, Washington, DC: PEW Research Center. Winn, P., 2015. USA TODAY. [Online] Available at: http://www.usatoday.com/story/news/world/2015/03/13/vietnam-capitalism-global-post/70261770/ [Accessed 24 April 2015].

Theatre in the Community Essay examples -- Drama

Theatre in the Community Britain in 1979 was a place of great change and division. Although the country had united in the election of Margaret Thatcher as the first Conservative woman Prime minister by the early 1980’s one could say that the country was spiralling into a state of decline. This was largely due to the disarray of the previous Labour government and the implementation of the Conservative government’s robust style of economic management. All spheres of social and cultural life were to be judged on their economic terms and values. This is particularly true within the Arts. In ‘Politics of Performance’ Baz Kershaw describes how, â€Å"Private enterprise was to replace public dependency, so cuts in government, expenditure, including that on the arts, were inevitable.† This stems back largely to the ideological principals of conservatism. Conservatism believes in the self reliant role of the individual. It strongly allows for the expansion of public enterprise and thus frowns upon state intervention and avoids assistance towards public dependency. Therefore, where it was seen that some areas of public life, such as the arts, were â€Å"financially draining†, cuts were made where necessary to ensure that funds were spent more wisely, largely towards benefiting enterprise. A culmination of activities throughout the 1980’s meant that the arts were one of the key areas of public life that were disregarded in favour of prioritised events. This is effectively where the arts began to suffer. Although some mainstream theatre was funded by the GLC (Greater London Council), many alternative theatre groups were seen as unnecessary and as they often highlighted social issues, such as homosexuality, that were seen as taboo, they were generally avoided when it came to the distribution of funding. This can clearly be seen in Kershaw’s, ‘Politics of Performance’, where Kershaw states, â€Å"The divisions in British society were also reflected in the growing distance between the top and bottom of the theatrical pyramid during the 1980’s. In 1982 the Royal Shakespeare Company had moved into the huge concrete edifice of the Barbican in the City of London. The following year, a government- ordered investigation into the RSC (the Pristley report) concluded that counter to government suspicions- the company was efficient but under funded to the ... ...iece was heavily influenced by the needs of a local disability group. Community theatres range in size from small groups led by single individuals performing in borrowed spaces, to large year round companies with elaborate well equipped theatres of their own. Many community theatres are successful non-profit businesses with a large active membership and, in some cases, a full time professional staff. As the performers and other artists are also involved in other aspects of their community, non-professional theatre can develop a broad base of support and attendance among those who might not normally support the professional arts. Community theatre is in fact well documented as being the most widely attended venue for theatre in America and Australia. Community theatre is often seen as adding to the social capital of a community, in that it develops skills and community spirit for those involved. Furthermore, it can also create a place for debate, self-expression and interactivity that is important for the health of a community. When this can involve people with learning disabilities, for example, it can disarm prejudices that people encounter on a daily basis. Theatre in the Community Essay examples -- Drama Theatre in the Community Britain in 1979 was a place of great change and division. Although the country had united in the election of Margaret Thatcher as the first Conservative woman Prime minister by the early 1980’s one could say that the country was spiralling into a state of decline. This was largely due to the disarray of the previous Labour government and the implementation of the Conservative government’s robust style of economic management. All spheres of social and cultural life were to be judged on their economic terms and values. This is particularly true within the Arts. In ‘Politics of Performance’ Baz Kershaw describes how, â€Å"Private enterprise was to replace public dependency, so cuts in government, expenditure, including that on the arts, were inevitable.† This stems back largely to the ideological principals of conservatism. Conservatism believes in the self reliant role of the individual. It strongly allows for the expansion of public enterprise and thus frowns upon state intervention and avoids assistance towards public dependency. Therefore, where it was seen that some areas of public life, such as the arts, were â€Å"financially draining†, cuts were made where necessary to ensure that funds were spent more wisely, largely towards benefiting enterprise. A culmination of activities throughout the 1980’s meant that the arts were one of the key areas of public life that were disregarded in favour of prioritised events. This is effectively where the arts began to suffer. Although some mainstream theatre was funded by the GLC (Greater London Council), many alternative theatre groups were seen as unnecessary and as they often highlighted social issues, such as homosexuality, that were seen as taboo, they were generally avoided when it came to the distribution of funding. This can clearly be seen in Kershaw’s, ‘Politics of Performance’, where Kershaw states, â€Å"The divisions in British society were also reflected in the growing distance between the top and bottom of the theatrical pyramid during the 1980’s. In 1982 the Royal Shakespeare Company had moved into the huge concrete edifice of the Barbican in the City of London. The following year, a government- ordered investigation into the RSC (the Pristley report) concluded that counter to government suspicions- the company was efficient but under funded to the ... ...iece was heavily influenced by the needs of a local disability group. Community theatres range in size from small groups led by single individuals performing in borrowed spaces, to large year round companies with elaborate well equipped theatres of their own. Many community theatres are successful non-profit businesses with a large active membership and, in some cases, a full time professional staff. As the performers and other artists are also involved in other aspects of their community, non-professional theatre can develop a broad base of support and attendance among those who might not normally support the professional arts. Community theatre is in fact well documented as being the most widely attended venue for theatre in America and Australia. Community theatre is often seen as adding to the social capital of a community, in that it develops skills and community spirit for those involved. Furthermore, it can also create a place for debate, self-expression and interactivity that is important for the health of a community. When this can involve people with learning disabilities, for example, it can disarm prejudices that people encounter on a daily basis.

Feng Shui Essay

Feng shui traces its origin to ancient China. Although it was often utilized by the ancient Chinese to predict the future, feng shui was more than that. Literally translated as â€Å"wind water,† it was fundamentally a part of their beliefs concerning nature – specifically the anchored on the principle that when man elects to live with nature, he and his environment both benefit by his actions. This is in contrast to what happens when he is living against nature where his activities destroy either himself, nature, or both. (Carroll, 2007) According to Feng shui man is greatly affected by his physical and emotional surroundings. In other words, a man who finds himself in the midst of a negative atmosphere like noise, ugliness, or death is debased, while he who surrounds himself with things associated with the positive such as beauty, music, kindness, and sweetness joins the ranks of the virtuous and the noble. (Carroll, 2007) The so-called experts in feng shui claim that they utilize their knowledge about the five elements of nature (wood, water, fire, metal and earth) and the two energies called chi and sha to sense â€Å"metaphysical energies† and predict the directions of their flow. This is what occurs when they arrange the furnishings inside a house, recommend the best directional position that a building should take, or where to locate it within a piece of land before construction work starts. For instance, these masters would position the beds in every room in certain ways, they would tell the homeowners where to locate the dining room or bathroom, where the appliances should be, what kind of paintings or framed pictures to hang and where, or even which direction the house should face – all of these after using their â€Å"sensors† to tell which way the good energy flows. The objective of the exercise, according to feng shui masters, is to make optimum use of the good energies and avoid the bad energies. For some people, however, feng shui is nothing but superstition. (Carroll, 2007) Reference Carroll, R. T. (2007). feng shui. Retrieved September 23, 2007 from http://skepdic. com/fengshui. html

Extraction of Dna from Calf or Hog Thymus/Isolation of...

Extraction of DNA from Calf or Hog Thymus/Isolation of Yeast RNA I. Abstract Nucleic acids may be divided into two groups RNA and DNA. DNA contains almost all the genetic information while RNA serves as the bridge between the DNA and proteins. Study of both DNA and RNA initially involves proper extraction/isolation. The storehouse of eukaryotic DNA is the nucleus (and in the mitochondria), so experimentally, DNA is extracted from tissues that have a high nuclear to cytoplasmic mass ratio, such as the tissues of the thymus gland and spleen. The thymus gland is a particularly good site for DNA extraction because it functions as the primary site for T lymphocyte differentiation. The T lymphocytes it acts upon have a round nucleus that†¦show more content†¦7.4 (at this pH, stability of crucial hydrogen bonds and other linkages in the DNA double helix are maintained). The addition of sodium citrate buffer has two other significances. First, it chelates Mg2+ and Mn2+, cations that serve as cofactors for DNAses. This chelating action of sodium citrate prevents the degradative enzymes to take effect in performing their function. Secondly, sodium citrate chelates other divalent cations (e.g. Ca2+) that could form salts w ith the anionic phosphate groups in the DNA backbone. Centrifugation was done next in order to separate the nuclei from other cellular organelles as well as cellular debris. The denser nuclei sank down to the bottom after centrifugation, forming the residue, whilst the  ¡Ã‚ §lighter ¡Ã‚ ¨ cellular organelles such as the mitochondria, etc. remained suspended in the supernatant. After discarding off the supernatant, the residue was suspended in 24 ml of 2.0 M NaCl. This was done because the salt increases the ionic strength of the solvent that in turn produces a  ¡Ã‚ §salting in ¡Ã‚ ¨ effect. Salting in then allowed the proteins of the nucleus to again, dissolve for easier separation later through a second centrifugation. Another effect of salt addition is that it could, with strong possibility, weaken the interactions between the negative charges carried by DNA and the positive charge of basic proteins. SDS solution was then

George Washington Carver Essay - 621 Words

George Washington Carver George Washington Carver was born in Diamond Grove, Missouri during the spring of 1864 or 1865. Like many slaves, he was uncertain of his birth date. His mother, Mary, was a slave who belonged to Moses and Susan Carver. As an infant, slave raiders kidnapped his mother. The childless carvers reared George and his older brother, James. Growing up, George was captivated by plants. Many neighbors referred to him as the â€Å"Plant Doctor†. Since Carver was an African American, he was not accepted at any local schools, therefore he had to attend school eight miles away from home. He did very well in school. In 1885 he was accepted to Highland College in Kansas. However, race became an issue again and they took away the†¦show more content†¦As well as creating the Farmers’ Institute, Carver also helped the farmers of Alabama and the southern states a great deal. An insect called the boll weevil became an enormous threat to the cotton fields of southern United States. Carver recommended to these farmers that they should substitute their cotton crops with sweet potatoes and, the more successful recommendation, peanuts. This switch would provide farmers another source of income and would also help to prevent the spread of the insect. The one problem with this solution was that no one knew what to do with all the peanut crops. Carver was quoted as saying: â€Å"we can learn to synthesize materials for every human need from the things that grow.† So that is what he did. In total, Carver was able to create close to three hundred different products from the peanut plant. These wide variety of products include dyes, ink, insulation, cosmetics, stock feed, medicines, glue, soap, and peanut milk. Although most of his products never became commercially sold, Carver became widely known as the â€Å"Peanut Man†. He also created nearly one hundred uses for the sweet potato crops. Even though George Washington Carver was well known throughout parts of the south, his real rise to fame started in 1916. Carver was invited to join the Royal Society for the Arts. Shortly afterward, the Carver Products Company was founded to market his many products. Carver was also honored with the medal of the NationalShow MoreRelated george washington carver Essay500 Words   |  2 Pagesnbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;George Washington Carver nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;George Washington Carver was born during the civil war years on a Missouri farm near Diamond Grove, Newton Country in Marion, Township Missouri. Even Carver himself was uncertain of his own birth date. In early manhood he thought that he was born in the year of 1865. On other occasions Carver noted that his birth came â€Å"near the end of the civil war† orRead MoreFacts on George Washington Carver 576 Words   |  2 Pages Facts on George Washington Carver At the age of 14 George Washington Carver witnessed a black man being drug out into the streets to be hung and burned. At the time when African Americans were looked down upon George Washington Carver was a very successful with what he did in Ag and science. When George Washington Carver was a small child he was abandoned by his biological parents and left on the lawn of his adopted parents house. George Washington Carver had a rough childhood and he wasRead MoreEssay on George Washington Carver1242 Words   |  5 PagesGeorge Washington Carver was born into slavery January of 1860 on the Moses Carver plantation in Diamond Grove, Missouri. He spent the first year of his life, the brutal days of border war, between Missouri and neighboring Kansas. George was a very sickly child with a whooping cough, which later lead to his speech impediment, and he was tiny and puny. Georges father, James Carver, died in a wood hauling accident when he was bringing wood to his masters house one day. George was sick a great dealRead More George Washington Carver Essay1774 Words   |  8 Pages George Washington Carver was a African American scientist who showed many intriguing thoughts of nature throughout his life span of being one of the most dedicated scientist. George was born in Diamond Missouri, but his exact date of birth is not known by people. Never the less, one of the most remark able inventors was born. Many people speculate that he was born sometime in January in 1964, while others believe he was born in June. 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They helped shape the United States through their outstanding accomplishments in their innovative ideas and values. Franklin and Carver were both intelligent and prolific scientist and inventors. They often focused their works on what they stood for. Both men shared the profound valueRead MoreThe Ghost1265 Words   |  6 PagesNate and hunched her shoulder then took a seat in an old ladder-back chair. When I mentioned to your granddad that my schools biology department has launched a campaign to collect all known writing of George Washington Carver, he invited me to look through these old books. George Washington Carver was a botanist, Nate said, joining Will on the floor. Not a writer. He taught at Tuskegee Institute. He must have left behind some writings on farming, as well as documentation of his research,Read MoreAnalysis Of George Washington Carver s The Golden Door Of Freedom 1736 Words   |  7 PagesGeorge Washington Carver once said â€Å"Education is the key to unlock the golden door of freedom.† Freedom can be defined in various ways by different people. To many immigrants, America is often seen as that opportunity of freedom, the freedom to learn, the freedom to love, and even just the freedom to exist. In this paper, I will put into words the story behind a second generation female immigrant’s experiences. By using various articles and notes given in class, I will talk about her and her family’sRead MoreThe History of Art at Iowa State University Essay776 Words   |  4 Pagescampus public art collections in the United States. There are over 2,000 works of public art (George Washington Carver). The foundation of the contempora ry Art on Campus Collection and Program began during the Depression in the 1930s, when Iowa States President Hughes envisioned that, The arts would enrich and provide substantial intellectual exploration into our college curricula† (George Washington Carver). Who doesn’t love art? Every day you wake up and experience some sort of artwork; whetherRead MoreLeadership Management Paper W1 LDR 3001045 Words   |  5 Pagesyoung age, George Washington Carver took a strong grip on his destiny. This dynamic leader prevailed over getting born without a name into slavery, overcoming poverty, and prejudice to commit his life in helping others achieve a better livelihood. Through his actions, he was able to earn high levels of respect of self-worth, dignity, honor, and infinite achievement. Booker T. Washington was the first president and principal of the Tuskegee Institute in 1896. Booker T. Washington sent an invitation

Gender Differences Among Women s Career, Success,...

Behavioral gender differences evident in life have their sources both in biological background and the societal contributions, yet they do not qualify to be the source of injustice or inequality of any kind towards women. The underlying scientific factors work hand in hand with the societal and the environmental contributions. As much as women want to thrive, be the best and win, in most cases, they tend to neglect their ambitions because of widely accepted view of their male counterparts’ superiority and women’s incapability of competing with them. However, it is possible for women to show their identity, without taking into consideration the biased perspective of men and societal stereotypes regarding women’s career, success, appearance, and even personality. Women do not have the equal right to choose what way of life to live and what kind of person to be, because women are restrict by the limitations created by men’s subjectivity, the peculiarities of upbringing, and women’s acceptance of socially designed feminine role. Women are born to be women, and they should live as such. They are as strong as men and should have equal opportunities to explore and experience the world to their choice, without victimization. The feminine character, which need approval from men and seeks to be inferior to them do not actually describe women. Some women do not wear the faà §ade of the feminine character to make men feel superior, rather fit and struggle less. If behaving in a feminineShow MoreRelatedThe Social Premises Causing Gender Gap Within Maths And Science Involvement1329 Words   |  6 Pageshumanity into men and women and the dominant role of men in modern society has led to the obvious prevalence of men, it can be traced in all cultural and historical periods, particularly in areas such as science. Most of the STEM (Science, Technology, Engineering and Math) University graduates are men. Among STEM graduates aged 25 to 34, women represented 23% of graduates from engineering and 30% of graduates from mat hematics and computer science programs. (Gender differences in science, technologyRead MoreThe Classical Music Of The Modern Era1465 Words   |  6 Pagesperformers. There were a few female composers however, for those times, but the few that there were, were shunned for their attempt at fame and those who were vaguely popular were claimed to have only achieved success from the fame of their husband. These issues of gender discrimination against women are still apparent in all aspects of music today. Society is slowly becoming more modern in their thinking, and with the feminist movement of the modern era, are beginning to accept females as equals, howeverRead MoreGender Inequality : A Long Part Of Canada2313 Words   |  10 PagesGender inequality has been a long part of Canada’s history with men being the dominant decision makers. Women have had to fight long hard battles and overcome numerous obstacles to prove themselves and demonstrate that they are equal to men and n ot inferior. Over the course of a century women have achieved suffrage and have become increasingly visible in the political and economic sectors. Despite all the achievements women have made barriers remain in effect leaving women at a social, economicRead MoreGender Inequality : The Workplace Against Women2153 Words   |  9 PagesGender Inequality in the Workplace against Women SOCI 3432 M50 Professor Stockton April 26, 2016 Shandrika Jackson Over the last ninety years, women have battled to become equal with men in all aspects of life and work (Parcheta, 2013). Male domination and power has become the social assumption as gendered occupations and beliefs have been projected throughout society as the status quo. Though challenging, this status quo is still present. Women have manufactured huge developments in careerRead MoreThe Power Structured Relationships Within A Patriarchal Society2081 Words   |  9 Pagesthat the â€Å"male shall dominate female, elder male shall dominate younger† (Millet 25). Women are oppressed in a patriarchal society, giving men the power to dominate. The theory of patriarchy is derived from the creation of social norms based on biological differences between males and females (Millet, 27). Judith Butler would refer to these norms as the ways in which society believes each gender should perform. Women are socialized to be loving, affectionate and feminine, while men are more prone toRea d MoreThe s Secret Model By Cameron Russell1531 Words   |  7 Pages Victoria s Secret Model, Cameron Russell, delivered one of the most profound TED Talks delivered on the Mid Atlantic stage, according to TED writer Cameron Gallo. The model explains that though the modeling industry considered her a perfect, she does not believe her appearance defines her. Thus she came up with the title for her speech, â€Å"Looks Aren t Everything†¦ Believe Me, I m a Model.†. She specifically addresses that children need to understand that modeling does not constitute a glamorousRead More Gender Equity in Education Essay examples2921 Words   |  12 PagesGender Equity in Education â€Å"It is early indeed that children show an awareness of the message that†¦ females are generally less interesting and important than males are†¦ The (often inadvertent) bearers of this message include parents, peers, and teachers.† (Lips, 1979, p. 128.) The absence of gender equity can be damaging to both males and females. Surprisingly most of the teachers and administrators are unaware of this problem. Organizations such as the American Association of University WomenRead MoreWomen Are Being Discriminated Against The Workplace2082 Words   |  9 Pageswhether it be her career level experience or educational background, in most instances she will never be considered equal to a man, in the workplace, some would think. 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Gender role plays different parts in religion, culture, society, time periods, countriesRead MoreChief Sources of Bias in the Selection of Employees Essay2285 Words   |  10 Pagesgroup together people who have similar characteristics and allocate traits to them on the basis of this grouping. Stereotyping is a four-step process. It begins by catagorising people into groups according to various criteria, such as gender, age, race and occupation. Next, it infers that all people within a particular category possess the same traits or characteristics. Then, we form expectations of others and interpret their behaviour according to our stereotypes.

Financial Accounting and Reporting Responsibility

Question: Discuss about the Financial Accounting and Reporting Responsibility. Answer: The ethical issue is considered to be one of the major setbacks for the company or the vital reason for the debacle of the company. The company not maintaining the code of ethics considered to be acquiring negative awareness in the corporate social responsibility, failing to meet to meet the company norms and regulation will leads to the debacle of the company in long run (Berk and DeMarzo, 2007). The primary reason for the company to manage and practice the code of ethics helps to increase the positive image of the company in the corporate world. The code of ethics is not being followed by the company Complete Cancer Care Limited (CCCL) which is a part of the Medical Services Holdings Group (MSHG) and is controlled and run by the CEO Adam chase, the CEO approached Belinda Battersby who is a audit partner and sole responsible for the auditing and overall financial reporting activity. Manipulation in the financial reporting which is being asked by the CEO Adam Chase is considered to b e one of the serious offences and considered as the major offence according to the code of ethics. Violation of the code of ethics leads to the overall failure of the company as the company primarily deals in the medical sector (Elliott and Elliott, 2008). Code of ethics in medical segment is considered to be playing a major role in determine the overall customer build and is one of the major source of uplift of the company, failing to manage and maintain the code of ethic of the company will lead to the debacle of the company. The ethical practice e in the medical line is considered to be the lifeline of the company as the helps to create a sense of positive environment in the mind of the patient to get a better and good health service (El-Masry, 2007). In the given case study it is clearly evident that the linear accelerator is not providing good service to the patient on the contrary it is having a negative impact on the patient well being. Neglecting the fact will lead to the wo rst cases for the patients which will eventually lead to the failure of medical service of the company. As per the matter of fact Belinda should inform the board of director of the Medical Services Holdings Group (MSHG) which will help to disclose the fraud which is being done from Adam chase end and thus will leads to manage and control the failure of the maintenance of code of ethics by the company CCCL (Helbk, Lindest and McLellan, 2010). Major ethical issue in the medical segment is considered to be playing a vital role as it is related with the patient well being. American Accounting Association Model Decision making process 1. Determine the facts In the given case study, Battersby and Associates chartered accounts is the accounting firm having wide range of clients all across Australia. Complete Cancer Care Limited a client of Battersby and Associates owns two old linear accelerators that are used in the radiation therapy. These linear accelerators that are used in the radiographers have raised concerns that they imposed negative impacts on the patients (Hillier, 2010). Adam Chase, CEO of CCL approached to the audit firm and requested to provide an opinion that the following linear accelerators are perfect and fit for use. The Audit firm was asked to show the linear accelerators as goodwill of the company. Therefore, in the case study is based on the ethical concern that the audit firm has to decide whether they should show the linear accelerators are perfect and fit for use (Holton, 2012). The code of ethics for the professional accountant and American Accounting Association model will help to determine and evaluate the ethi cal issue raised in the case study. 2. Define the ethical issues The ethical issue refers to the facts and figures that has been uncovered by an auditor and misrepresenting the actual value of an organization. The audit firm or an auditor may have taken huge amount of money to uncover the actual facts (Kieso, Weygandt and Warfield, 2007). In the given case study, the ethical issues was that Adam Chase, CEO of CCL approached to Belinda Battersby and requested to provide an opinion that linear accelerators are perfect and fit for use. The linear accelerators have major concerns that impose negative radiation impacts on the patients. Therefore, Battersby and Associates was asked to take an unethical step that can affect the health of the patients (Leonard, 2007). The linear accelerators would be showed as the goodwill of the company. The overall situation is an ethical issue that should be determined and evaluated as per the rules and regulations. 3. Identify the major principles, rules and values The standards, standards, and qualities are that reviewers or the auditors are accepted (by shareholders and others dynamic in capital markets) to have perfect respectability and to guarantee that the organization is giving a 'genuine and reasonable perspective' of its budgetary circumstance at the season of the review (Moretto, 2008). Reviewers or auditors are endowed with the errand of guaranteeing an organization's money related records and anything that keeps this or meddles with an examiner's objectivity is a disappointment of the inspector's obligation to shareholders. Determination of the principle and value of the company code of ethics help to manage a positive image in the corporate world (Ross, Westerfield and Jaffe, 2005). Financial reporting is considered to be one of the major segment as the auditor audit the financial part which help to throw light on the company overall growth. 4. Specify the alternatives Belinda Battersby was asked to provide an opinion that the linear accelerators used in the radiation therapy is perfect and fit for use. It is considered as an unethical step that will impose adverse impact on the health of the patients. If the Belinda would accept the offer then the firm will earn huge amount of money but the firm can face legal troubles (Spiceland, Sepe and Nelson, 2011). On the other hand, if Belinda would refuse the offers then the firm would be able to build its reputation in the market and healthy relationships with their clients. The firm will be able to enhance its reputation and will not face any legal troubles. 5. Compare values and alternatives Belinda should refuse the offer of Adam Chase as because it is important for an audit firm to enhance its reputation in the market and building positive relationships with the clients. A firm cannot work for their self interest and should work for their clients (Stittle and Wearing, 2008). Legal troubles can also affect the operations of the firm. Therefore, Belinda should refuse the approach of Adam Chase. 6. Assess the consequences Under Option 1, the auditor would acknowledge the reward or the bribe. He/she would appreciate the expansion in riches and probably an increment in his way of life however he/she would open himself/herself to the danger of being in a bad position if his acknowledgment of the pay off was ever revealed (Stittle and Wearing, 2008). He/she would need to 'live with himself' realizing that he/she had taken a pay off and would be owing debtors to the customer, realizing that the customer could uncover him whenever. Under Option 2, the auditor would reject the bribe fix. This would be liable to have various shocking results for the customer and perhaps for the eventual fate of the clientauditor relationship. It would, be that as it may, keep up and improve the notoriety and social remaining of inspectors, keep up open trust in review, and serve the best advantages of the shareholders. 7. Make your decision The ethical decision is option 2 , the auditor should refuse to work under such circumstance where she need to provide fake auditor report and mislead the patient and other key member of the company (Winters, 2008). Corporate governance help to manage and control the overall aspect of the company core activities. Auditing primarily depends on the good corporate governance structure. Audit plays a vital role in the company determination of the financial position and thus help the others user of the financial statement to gain knowledge regarding the company financial position in the market (Wolf, 2008). Audit risk is depend on the company corporate governance structure, manipulation of the financial report lead to the vague information about the company financial position which leads to the several other key audit risk. Main context In any business organization or company the management tends to concentrate and give attention to the sector of risk management as without it the company is bound to fall apart. The failures of risk management mainly in the financial sector have been successful in raising quite a few eyebrows as it has led to a great level of loss. The risk of audit depends entirely on the corporate governance that imposes vital impact on the financial position of an organization. Mostly the failure of a business organization occurs due to the failure of the corporate governance where the board of directors of a company did not understand the potential of the risk taken by that particular company (Woltje, 2008). Moreover the risk management system of a company needs to be well maintained in order for it to ensure that the company is able to overcome all the risks taken by it on one hand and also be able to mitigate or minimize the level of risks that it otherwise would have to face. The board of dire ctors and key stakeholders of the company need to give enough importance to the corporate governance and risk management framework followed by the company as these two factors play a great role in determining whether the company would be able to overcome the risk taken by it in order to perform in a better manner in the future (Zingel, 2006). Audit risk is the manipulated comment given by an auditor after examining the financial transactions of the company. The problem with thus is that with the presence of manipulated and fake comments, it is not possible for the management and key stakeholders of a company to understand the actual position that the company is in and thereby fails to recognize the risk that the company would face. As a result of this a company faces a huge amount of risk that can mount up to the point where the company or organization needs to be liquidated (Stittle and Wearing, 2008). Corporate governance enforces the employees as well as management of a company t o follow the rules and regulations of a company; ethical code of conduct etc. Therefore with the presence of good and proper corporate governance, an organization is at a better state of having a well defined and disciplined work culture that would never allow an individual to make fraudulent comments or give wrongful facts in the reports of the company. 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