Christopher Hitchens Essay Example For Students

Christopher Hitchens Essay As a Muslim, I need to withstand to the 6 articles of confidence in Islam which remembers accepting for just a single God. As should be obvious, accepting assumes a fundamental job in my religion and I accept, it is the equivalent in different religions as well. Be that as it may, one could misconstrued the use of the word â€Å"believe† and contend them identifying with different perspectives, for example, the climate. One would accept that tomorrow’s climate would be stormy since there is recognizable proof through climate conjectures. I would state the term â€Å"believe† is utilized distinctively with regards to a religion since we accept when there is no discernible proof. This level of accepting is alluded to as having confidence. Confidence is a constituent of humans’ social feelings. As it were, one can possibly have confidence in the event that they are affected by forceful feelings. In any case, the way that feeling may influence different methods of knowing, it tends to be addressed whether is it sufficiently solid to fall back on our confidence in making a decision about attestations made without proof in religion? Since strict adherents guarantee that religion can’t be demonstrated or refuted with 100 percent assurance as it’s an issue of individual confidence, not expose to reason or proof (Christina, 2009), would they say they are manhandling the word â€Å"faith† so as to shield religion from the origination that every declaration must be bolstered with noticeable proof? From the knower’s point of view, it couldn't be concurred more that the need of proof in religion is in fact dubious, along these lines, I for one accept that a barely recognizable difference must be attracted request to recognize dependable attestations and inconsistent declarations. As common science requests experimental proof before any declarations can be made, religion has consistently been related with magical cases which contrast itself from different subject matters. It has been clarified that the two subject matters merit distinctive treatment towards any attestations without proof. By the by, I accept that the person who attests the case assumes a significant job by they way we assess the case. In common science for example, a person who is profoundly respected in the field of which he is making the case on, would realize what he is declaring. In this way, if this will be this case, regardless of whether the case made has no proof, all things considered, the case would be valid. The equivalent applies to religion. More or less, reason must be placed before different methods of realizing while assessing any statements. Just by doing this, our choice would be discerning and any biasness could be stayed away from. References: The University of Adelaide. (2012, October 9). Recovered February 6, 2013, from Extending Einsteins Theory Beyond Light Speed: http://www. adelaide. edu. au/news/news56901. html Al-Munajjid, S. M. (n. d. ). Proof of the presence of God, and the shrewdness behind His creation. Recovered February 6, 2013, from IslamQA: http://islamqa. information/en/ref/26745 Boyle, R. (2010, January 1). Analysts Devise the First Experimental Test of Controversial, Confusing String Theory. Recovered February 10, 2013, from POPSCI: http://www. popsci. com/science/article/2010-09/analysts make sense of how-test-untestable-hypothesis everything Christina, G. (2009, December 3). Hello Religious Believers, Wheres Your Evidence? Recovered February 4, 2013, from AlterNet: http://www. alternet. organization/story/144354/hey_religious_believers%2C_where%27s_your_evidence? page=0%2C0.

The International Financial Reporting Standards In Russia

The International Financial Reporting Standards In Russia Universal Financial Reporting Standards (IFRS) and their forerunner, International Accounting Standards (IAS) is picking up in overall acknowledgment. All traded on an open market organizations in the EU must embrace them by 2005 and numerous different nations either have received them or plan to do as such soon. After separation of Soviet Union, Russia has encountered a great deal of unrest and changes both political and efficient the nation has attempted to dispose of its communist past and it has now developed to be an increasingly significant accomplice in worldwide undertakings and financial matters. The need to build up the advanced bookkeeping framework has thusly been evident and the nation had two options: to build up its own framework or to embrace a current one, as IFRS. In 2002, the Russian Prime Minister reported that every Russian organization and banks must set up their fiscal summaries as per worldwide guidelines beginning January 1, 2004. Actualizing that choice won't be simple, for an assortment of reasons. Not every universal standard have been converted into Russian. Numerous Russian bookkeepers are not adequately acquainted with universal principles to actualize them. Some Russian colleges have as of late began instructing global norms and the proceeding with training projects of the different Russian bookkeeping affiliations are not yet arranged to offer exhaustive seminars on worldwide guidelines. Current Russian bookkeeping principles struggle with worldwide measures in a few significant manners and these contentions won't be settled sooner rather than later. This venture paper considers the issues that emerge while executing new bookkeeping guidelines, some of which are not new and have been shrouded in the writing, however others of which are specific to the usage of IFRS revealing. Te technique for execution, the extent of IFRS, specific issues with nearby bookkeeping practice and IFRS, the issues of implementation of consistence with IFRS and its relationship with review, the connection between IFRS detailing and tax assessment and the arrangement of instruction and preparing are totally thought of. There is additionally survey of the condition of readiness of neighborhood bunch recorded substances concerning the execution of IFRS revealing. There are many research zones for bookkeeping research where the work could likewise educate the work on regarding IFRS bookkeeping. The paper gives a commitment by featuring how one nation has moved to actualize the necessity for bunch recorded ventures to plan IFRS accounts and the issues that at that point emerge for officials, preparers and clients. Presentation of the examination Foundation of the examination Globalization is having a sensational effect on the world economy, fringes are getting less and less applicable and organization and exchange between organizations arranged on various landmasses is presently normal. An ever increasing number of organizations have gotten worldwide in their business exercises and global exchange with offers and credits is continually expanding. As organizations and capital needs have left the national level, capital disguise has become a need. The interest for an open money related market is presently more grounded than at any other time. Globalization makes similarity and harmonization of the bookkeeping and money related detailing top need. The objective of the EU is to make a free market where capital work, merchandise and ventures are to move openly. With the normal cash, the European market has gotten increasingly straightforward for organizations and it has made it simpler to examine business openings inside the EU. The usage of International Accounting Standards (IAS) and the International money related Reporting Standards (IFRS) will additionally improve the straightforwardness of organizations data and furthermore be a significant advance in the EUs responsibility for a typical European capital market. For speculators and moneylenders it is essential to have similar and quality data and this must be accomplished if nations collaborate in making a typical framework like IAS/IFRS. After the separation of the Soviet Union in 1992, Russia needed to change its monetary framework from an arranged economy to a market economy. In a praise economy the methods for creation are in open possession, the state commands the economy, and economy action should react to state course. On the other hand, in a market economy the methods for the methods for creation are primarily in private possession, the state makes the legitimate system wherein monetary action happens, and financial spot expected to react to showcase powers. Such a progress clearly has significant ramifications for bookkeeping, which stops to be an instrument of the state financial organization and rather turns into an instrument at the removal of the business network. New kinds of organizations and undertakings frantically required new bookkeeping gauges. In a market economy the goal of organizations budgetary detailing is to give helpful data to present and potential financial specialists, banks and other invested individuals to encourage their choices. Despite the fact that as of recently the job and the money related announcing still remains the State, in the individual of the assessment specialists. By and by, voices of the other premium gatherings speculators, loan bosses, supervisors and furthermore bookkeepers and inspectors become increasingly significant. In that manner, the Russian bookkeeping and budgetary detailing create, moving toward worldwide norms. As change economies experience the way toward shedding their halfway arranged bookkeeping model and supplanting it with a market situated model that utilizes global norms they face various issues. Not many individuals know the new principles, since the global measures should initially be converted into their language. Bookkeepers who can peruse the worldwide principles declared by the International Accounting Standards Board and its forerunner, the International Accounting Standards Committee in the first English have an upper hand in such manner, yet attempting to completely misuse this bit of leeway might be disappointing if potential customers or managers don't put a lot of significant worth on universal measures. There is likewise an inactivity obstruction to survive. It is hard to change the state of affairs (Friedman 1984). Bookkeepers and chiefs who have been utilizing the old framework for 20 or 30 years would prefer not to change since they feel good with the framework they learned in school or hands on when they were youthful. Those people likewise happen to be the individuals who are presently responsible for ventures and bookkeeping offices, so their endorsement must be had before any new framework can be received and executed. 2.1.1. Worldwide Standards in Russia As we probably am aware from our past readings, bookkeeping is a piece of the administrative framework. That is an issue since Russia will never have genuine worldwide gauges if government needs to administer it. There will consistently be a slack and style and language issues. The first arrangement by the Russian Finance Ministry in 1998 was to embrace all IAS by 2000. That didn't occur. The new objective for full selection and execution is 2004, in any event on account of banks and traded on an open market organizations. Be that as it may, that target is likewise probably not going to be met. Truth be told, not a solitary bookkeeper talked with felt that worldwide guidelines would be completely received and executed by 2004. One bookkeeper evaluated that full usage would take ten years (RobertW. Galina G., 2004) On account of the standard on debilitation, numerous Russian organizations and their bookkeepers would prefer not to apply the hindrance rules on the grounds that numerous organizations have resources that are exaggerated. Applying the disability standard would cause the advantage side of the accounting report to contract, significantly much of the time, and they don't need that to occur. In extraordinary cases, an organization that seems sound could have all the earmarks of being indebted if the disability rules were applied. This aversion isn't exceptional to Russia. A similar circumstance exists in Republika Srpska, the Serbian piece of Bosnia, and in other once in the past midway arranged economies. Maybe the fundamental motivation behind why the standard on monetary instruments has not been embraced is absence of interest. Not very many Russian ventures utilize complex budgetary instruments, and the ones that do are as of now applying the IAS or U.S. GAAP on this subject. Likewise, this standard is hard to comprehend and numerous Russian bookkeepers are not anxious to put forth the attempt to get familiar with a standard that they presumably won't use within a reasonable time-frame. Another point that could be made about Russias selection of worldwide norms is that even the principles that have been embraced may not generally be global gauges. For instance, the Russian standard on annual duties depends on the old form of the IAS personal expense standard, not the upgraded one. This reality is known inside a significant part of the Russian bookkeeping network yet may not be too known outside of Russia. Another, less verifiable truth about Russias bookkeeping norms is that the Russian renditions of the guidelines that have been embraced are not unimportant interpretations of the English language firsts. Much of the time they are condensed, disentangled variants of the first English language IAS. RAS will in general be a lot shorter, increasingly point by point and calculated. They spread a small amount of the substance of IAS. To put it plainly, it may not be precise to express that Russia has received IAS. It would be progressively spellbinding to state that Russ ian bookkeeping gauges are just founded on IAS. Frequently the contrasts among RAS and IAS are not huge or significant. Be that as it may, the distinction might be significant, for example, in the territory of accumulations standards. Another motivation behind why RAS will never be indistinguishable from the global guidelines is on the grounds that there is a planning slack between the time another universal standard is given in the UK and the time that new standard is converted into Russian a

Cocaine Essay Example | Topics and Well Written Essays - 750 words

Cocaine - Essay Example To comprehend the individuals who use it, one must comprehend that cocaine is an energizer sedate that is principally processed by the liver. Such an extensive amount the medication is utilized by the body, that under 1% of the medication is discharged through pee. As expressed by Maureen Coombs, â€Å"Cocaine is acquired from the leaves of the coca plant and initiates an euphoric feeling of bliss and expanded vitality. It very well may be bitten, insufflated, smoked or infused and has both therapeutic and recreational uses†. In view of this data, one can comprehend why people who utilize this substance do as such. The reason for existing isn't to encounter a high, all things considered with people who smoke weed. Rather, cocaine clients look for the euphoric inclination and significant level of vitality related with its utilization. Reports that have turned out in past decades have shown that passings from cocaine use are not brought about by overdose. Such reports may have c aused a decrease in worry over its genuine perils. Actually cocaine keeps on slaughtering a great many people each year, and the greater part of those passings result from long haul harm brought about by broad maltreatment. As indicated by Karch, â€Å"It is critical to comprehend that demise from intense cocaine poisonousness is a generally uncommon occasion, basically just found in ‘body packers’ or ‘body stuffers’ who wind up presented to gigantic, multigram amounts of cocaine. Something else, the main cocaine clients liable to turn out to be truly sick or bite the dust are the incessant users†. In other words, lethal overdoses from cocaine don't happen from clients â€Å"over indulging† in the user’s illicit substance of decision. Or maybe, the overdoses bring about something going amiss when people endeavor to utilize themselves or permit themselves to be utilized as a medication donkey. Bundles of monstrous measures of cocaine in their body should be fixed, however at times the bundles become separated enough to permit the cocaine to retain in to the body. One reason why cocaine clients don't overdose through standard use is that the measure of cocaine required to create an overdose is beyond the realm of imagination by means of that technique. The client would need to make themselves wiped out to accomplish an overdose. At the point when the reason for utilizing the medication is to accomplish happiness, to make oneself wiped out would be counterproductive. As far as use, â€Å"Nasal inward breath is the most famous strategy for cocaine organization unquestionably due to its discretion† (Blaise, pg. 1262). There are additionally the alternatives of infusing the medication, or smoking it. As Blaise composed, grunting cocaine is regularly the essential technique picked as a result of the straightforwardness with which one can cover up itâ€at first. Expanded cocaine use has the horrendous reaction of causing nasal sores, which are everything except difficult to cover up. At the point when authorities need to test for cocaine, regularly they will take hair, blood, or pee tests. A little known reality about hair is that it basically acts like a tree center. Where on a tree, each ring speaks to a time of life, hair gives indications of illicit substance utilize around 90 days after the fact. Pee tests can be utilized to screen for cocaine utilize 2-5 days after use, with the special case for those with certain kidney issue. At last, blood tests can be utilized precisely inside 2-5 days. People who enjoy their medication propensity with cocaine will find that from the outset, all may appear to be great.

The Short Happy Life of Francis Macomber free essay sample

Normal for a large portion of Ernest Hemingway’s works, â€Å"The Short Happy Life of Francis Macomber† starts with a man and a lady apparently cheerfully infatuated yet finishes with that very love turning on itself and bringing about catastrophe. The occasions paving the way to their defeat recount to an account of an absence of consistency, and a person’s genuine character being appeared. The fundamental subjects of this story are mental fortitude and weakness which are appeared through each of the three characters: Francis, Wilson, and Margot. Francis Macomber starts his quick good when he typifies the topic of weakness in the start of the story. At the point when he experienced an injured lion, he ran in dread and must be spared by Wilson, the visit direct. This one choice expense Francis everything. The principal outcome of his fearful activities was the response that his significant other had. Margot had lost all feeling of insurance from her better half when she had watched her significant other run in dread. We will compose a custom exposition test on The Short Happy Life of Francis Macomber or then again any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page She even communicated her discontent with his activities nearly to a state of joke. Margot rushed to bring up all of Macomber’s imperfections and botches and to raise up Wilson, who was showing up progressively alluring and speaking to her constantly. Be that as it may, Francis, being a sort and delicate man, didn't respond out of frustration. Rather he started his plot to win back his wife’s friendship. While most men would likely pursue the other man which their better half had moved her consideration towards, Francis was from thus forward searching for approaches to recover his feeling of masculinity in his dearest wife’s eyes. One day when the three were out on their safari, Francis recognized his opportunity when he stumbled into some wild ox. Decisively, Francis shot and murdered two bison. There was additionally a third wild ox that he had shot and gave off an impression of being dead yet was just seriously injured. Francis had indicated grit yet was no counterpart for the injured wild ox that had started to charge towards him. Wilson, by and by, stepped in to make all the difference however shockingly, Francis would pass on in his demonstration of fearlessness and valor. Richard Wilson is actually what you would consider a safari visit manual for the rich to resemble experienced, intrepid, and somewhat self important. Albeit saw as an inside and out demonstration of valor, Margot may have overlooked that what Wilson had done was in a manner an aspect of his responsibilities title. Wilson was dependable, somewhat, for the individuals whom he went with on safaris. All things considered, when a safari control for the rich, it is in all probability normal for Richard to run into certain couples that remained unaware of what they were getting themselves into yet were just going through their tremendous measures of cash into something courageous. As such, Wilson was presumably more than used to be a sitter for the audacious rich. Be that as it may, then again, Richard Wilson’s fortitude isn't to be belittled. Being a safari control alone requires a measure of fearlessness that most people don't have. Richard displayed his weakness with the way that he permitted Margot to act towards him. Indeed, Richard Wilson isn't on an extended get-away, this is his occupation. By permitting Margot to kiss him in the vehicle and keep on talking more than generously about him to and before her significant other, he was by and large exceptionally amateurish. Any genuine man would have had the fortitude to face the lady that he had quite recently met and reveal to her that he was unable to permit her to demonstration in such an indiscriminate route towards him. Presumably the most weakness of any of the fundamental characters, Margot’s activities demonstrated next to no fortitude. Marriage is a dedication which is regularly misconstrued or overlooked by the vast majority of the people who have participated in the promise. At the point when a lady says ‘I do’ to a man, she is basically encouraging that man that regardless of what she is his and his just, until the end of time. She is promising a specific degree of dutifulness to him and the most extreme of regard. In this story, Margot, in the event that she truly implied her pledges, tossed them out the window faster than Francis ever had the opportunity to argue his case. In addition to the fact that Margot made her better half out to be the most disturbing of men for fleeing, she beginning pursuing another man before her significant other. However, her apprehensive soul didn't end there. When Francis was attempting to win back her expressions of love by executing the bison, his life was stopped by a slug that left a firearm his significant other was holding. Closure another human’s life for your very own motivation is the most narrow minded, weak act that an individual could submit. Francis Macomber may have had a snapshot of shortcoming and dread when he encountered a lion however through his poise and his later activities, he indicated significantly more fortitude than Richard Wilson and Margot set up. Francis reserved each option to carry on and to be run of the mill and take his annoyance out on Wilson, however he didn’t. Macomber passed on an honorable man who just needed the adoration for his significant other reestablished to him. At the point when an individual’s life is mulled over, it isn't the manner by which they started that issues yet how they wrapped up.

Malcolm X Essays (1870 words) - English-language Films,

Malcolm X Malcolm X One of the most compelling men of his time, with the dark network, yet in addition with others of each network. His convictions for some, individuals are difficult to comprehend and most likely idea as though his convictions aren't right, yet until somebody really peruses The Autobiography of Malcolm X, at that point individuals won't generally comprehend the unpredictability of the man Malcolm X. His personal history takes you on a voyage through likely bunches of dark men of this time and shows all the hardships and battles that they needed to experience. Demonstrating the deceptive lessons of the respectable Elijah Muhammad and the Nation of Islam, and how Malcolm learns the genuine truth of his religion. All should consider the excursion of Malcolm X's life since it gives incredible understanding into one of America's extraordinary pioneers. The battles he had as youthful dark kid and the impacts he arrived. To his high school years where he grew the vast majority of his road smarts and figured out how individuals truly functioned. Likewise his collection of memoirs shows how for certain individuals jail can educate and truly help individuals to restore their lives. At that point how Malcolm finds an exit plan in his newly discovered confidence in Allah. The collection of memoirs additionally shows how Malcolm sees the genuine light of the Muslim religion with his journey to Mecca. From the start Malcolm grows up as a run of the mill dark youngster, yet soon his life changes with the absolute most horrendous things that can happen to a little youngster. I think one about the most persuasive things that happened to Malcolm is the point at which his dad is executed. In addition to the fact that this is truly horrible to an any little fellow, yet the manner in which his dad is executed and by whom is slaughtered that makes the most impact. Malcolm's dad was a Baptist serve and a coordinator for the Marcus Aurelius Garvey's Universal Negro Improvement Association. When Malcolm used to go with his dad to the gatherings that his dad tossed for the individuals, I imagine that Malcolm took a great deal of what his dad did to what he did and how he affected later in his own life. A case of this is in The Autobiography of Malcolm X where Malcolm says yet at the same time the picture of him that made me proudest was his crusading and activist battling with expressions of Marcus Garvey. (9). Malcolm's dad leaving him was exceptionally compelling on the grounds that he never had that direction that a dad gives his youngsters, however more significantly that his dad was slaughtered by the white Black Legion. The Black Legion was a derisive gathering a lot of like the Ku Klux Klan, however they wore dark robes rather than white robes. The executing of his dad by the Black Legion remained in Malcolm's mind as he gets more established and influences the manner in which he considers white individuals. The way that the insurance agency would not give his mom the cash that she merited on the grounds that they discovered his dad on the trolley tracks. So he clearly slammed himself in the head and staggered over to the tracks to end it all. This was simply one more explanation in Malcolm's mind why the white individuals are the fiend. How his dad was laid half dead on the trolley tracks by white individuals who simply let him endure half dead. The occasion of his dad's demise simply put increasingly more hostility towards white individuals throughout Malcolm's life. One of the most significant occasions that formed Malcolm's life was when Mr. Ostrowski, his eight-grade instructor, revealed to him he ought to be reasonable throughout everyday life. In The Autobiography of Malcolm X his instructor says, Malcolm, one of life's first needs is for us to be sensible. Try not to misjudge me, presently. We as a whole here like you, you realize that. Be that as it may, you must be sensible about being a nig*er. A legal counselor that is no sensible objective for a nig*er. You have to consider something you can be. (43). The things that his educator revealed to him squashed his fantasies, and caused him to feel useless. His educator if not the most is one of the most powerful individuals due to that announcement, that is the explanation that drove him away from

Data Governance Cancer Care Ontario - Free Essay Example

Data Governance Cancer Care Ontario Personal Case Study TABLE OF CONTENTS INTRODUCTION The Facts ABSTRACT PROBLEM STATEMENT INTRODUCTION This section will not be the focus of this project document, but rather a short introduction so that the audience can relate to the background of CCO. As the Ontario governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s advisor on the cancer and renal systems, as well as on access to care for key health services, Cancer Care Ontario (CCO) drives continuous improvement in disease prevention and screening, the delivery of care and the patient experience for chronic diseases. Known for its innovation and evidence-based approaches, CCO leads multi-year system planning, contracts for services with hospitals and providers, develops and deploys information systems, establishes guidelines and standards, and tracks performance targets to ensure system-wide improvements in cancer, chronic kidney disease à ¢Ã¢â€š ¬Ã¢â‚¬Å" through the Ontario Renal Network à ¢Ã¢â€š ¬Ã¢â‚¬Å" and access to care. CCO began life in April 1943 as the Ontario Cancer Treatment and Research Foundation. More than a half century later, in 1997, it was formally launched and funded as an Ontario government agency. CCO is governed by The Cancer Act and is accountable to the Ministry of Health and Long-Term Care (MOHLTC). CCO directs and oversees approximately $1.5 billion in funding for hospitals and other cancer and chronic kidney disease care providers, enabling them to deliver high quality, timely services and improved access to care. CCO employs about 1,000 staff members, all of whom are critical elements that contribute to the success of this organization. The Facts The reality is more of us are going to face living with or caring for someone with one or more chronic diseases. Cancer and other chronic illnesses like kidney disease are strongly associated with age We project that by 2015, the number of people diagnosed with cancer, for example, will have increased by 50% from 1999 figures. And that 45% of men and 40% of women in Canada will face cancer in their lifetime At the same time, health care spending in Canada continues to rise faster than inflation and population growth. [1] The Ontario government cautions that à ¢Ã¢â€š ¬Ã…“Without a change in course, health spending would eat up 70% of the provincial budget within 12 years, crowding out our ability to pay for many other important priorities.à ¢Ã¢â€š ¬Ã‚  [2] The pressure on our health systems will be unsustainable if we do not take action. Together, we have an opportunity to respond to the health needs of the people of Ontario through increased efforts in prevention, and by driving the delivery of more patient-centered, integrated and high-quality care for greater value from every health dollar we spend. Cancer Care Ontarioà ¢Ã¢â€š ¬Ã¢â€ž ¢s goal is to broaden the use data for our quality and performance improvement approaches to include other care settings, and to do so in ways that enable us to integrate care across all phases of the patient journey. We will make decisions and provide advice based on the best available evidence. Cancer Care Ontario has launched an enterprise-wide initiative to assess and build capacity in the new Analytics and Informatics portfolio. In response to recent organizational structure, significant efforts are being dedicated to examine how data is used, both within the organization, and as provided to our external stakeholders. I personally think that this project, case study, will be of utmost importance to facilitate the definition and implementation of the enterprise data governance model and assessment of the new data requirements at CCO. ABSTRACT Data governance is one of the building blocks of data management and is often considered to be an integral part of data quality efforts, master data management programs data policies, business process management, and risk management surrounding the handling of data in an organization. Data governance is a set of processes that ensures that important data assets are managed and acknowledged throughout the enterprise. Data governance is all about data that can be trusted and that people can be made accountable for any issues that arise because of low data quality. It is about putting people in charge of fixing and preventing data related issues so that quality of the data is not compromised thereby enabling the enterprise to become more efficient. Data governance forces enterprises to think outside the box by deviating them away from orthodox practices and processes of handling the data and using technology when necessary in many forms to help aid the process. Initiatives to im plement data governance, either technological or organizational efforts, usually come from the corporate office with a top-down emphasis. Even though this approach is well intended and carries valuable recommendations, ità ¢Ã¢â€š ¬Ã¢â€ž ¢s often met with internal resistance and suspicion. As a result, this approach falls short when it comes to implementing data governance to make a significant impact within the business. This case study will be used to demonstrate how data governance can be implemented in a unique manner. My approach emphasizes a repeatable and sustainable methodology focused on supporting key business processes. I will review the methodology, components, and stages developed to implement data governance for specific data types through several proof of concepts. As a direct result of this effort I shall present lessons learned, challenges encountered, and business benefits realized to date. PROBLEM STATEMENT You will often hear executives discuss issues that relate to data issues, data quality challenges, data inconsistencies, untrusted data, etc. At Cancer Care Ontario the data is collected from wide variety of sources and in various formats. It has been collectively determined that many sources, redundant and inconsistent information, for the data have caused significant rise in issues related to data quality, data access and data delivery to the end user (business user). CCO has well sponsored data projects and data clean-up projects to address the challenges stated above. Data projects are performed to make the data clean and to improve the quality of data. In-spite of these efforts it doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t stay clean forever. There is no clear understanding of the root cause and no clear understanding of how to keep the data clean. Data cleanup can happen by brute force and will often result in short term improvements, especially if coupled with improved business processe s, but process improvement may not suffice. The proper implementation of Data Governance can make it work; make it sustainable. The executive team, including representatives from the new Analytics and Informatics portfolio, at Cancer Care Ontario believes that the data cleanup efforts (remediation) can lead to short term success which can result in improved Data Quality for a short period of time, but without data governance, it will not last. Business leaders know what they want (they want clean data that can be trusted), but I believe they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have a concrete idea on how to get there. It will be a daunting task for Business, management, and IT to get to a common ground and agree upon implementing the fundamentals of Data Governance. It would be beneficial if the business managers can see something real; something that would help them understand the value of Data Governance. This realization one day can lead to the creation of Data Governance portfolio with in CCO where in the concepts, fundamentals, and framework can be developed internally through formal training. [1] Canadian Institute for Health Information (CIHI) 2011. National Health Expenditure Trends, 1975 to 2011 [2] Ontario Ministry of Health and Long-Term Care 2012. Ontarioà ¢Ã¢â€š ¬Ã¢â€ž ¢s Action Plan for Health Care Queens Printer of Ontario

Assessing Of A Stock Market Example For Free - Free Essay Example

A stock market is a kind of organizational structure which provides trading facilities for stockbrokers and traders to buy and sell stocks and other securities. It is a market, because these areas enable trading securities for buyers. It is a corporate business, because it has its own rules and norms. Stock exchanges are not only for shares but also they are used for different kinds of commodities and instruments. Although sale bill and bills of exchange are dealt in the stock exchange market, there are foreign exchange markets for currency trading such as Forex and commodity exchanges to trade in goods; such as, cotton exchange that determines cotton price. Additionally, almost all the major world stock markets are affected by three factors: (1) the circumstance and trends of world economy, (2) the situation and trends of local economy and the availability and (3) performance of the sectors (Fama, 1965:34). If these three components are in good condition, the price of share certificates can alter assertively. Thus, enterprisers can reap a profit by purchasing shares cheaply and sell it when its prices increase. Of course, this is not the only way to make a profit by means of stock markets. If the share prices are exorbitant, and if there are some clues about then these prices wou ld decline for a while, investors would drive profit again. The name of this process is Short Selling. This essay reviews the negative effects of short selling and provides European governments opinion, especially Germany, about short selling under different economic circumstances. Although short selling can provide great benefits to investors, there are a number of risks that need further research to reduce its negative influences. It can be seen in this paper that economic history has had numerous disasters to investors because of short selling. In order to show short sellings effects on people and the economic situation, this essay will start by giving detailed definition for short selling, followed by considering its risks and European governments opinions. Therefore this will end by providing tragic examples for short selling which explain how short selling cause the advantages and disadvantages for investors. What is Short Selling Short selling is a type of economic activity which allows investors to earn more money in a short term. In general, investors would like to find a special share in the stock market which is predicted to rise in a short period of time. If everything is suitable conditions and the price boosts dramatically, they gain profit by selling these shares. Short selling, conversely, is the trading of a security that the dealer does not own. According to Yuille (2009:2) more specifically, a short sale is the sale of a security that is not owned by the seller, but that is promised to be delivered. Although this definition is correct, this is not a useful description to get the meaning of what short selling is. Fundamentally, a short seller ,who has raised a loan, sells a share in the expectation that the value of securities falls down hence he or she can come out ahead when he or she takes it back from the market at a dropping price (Taulli, 2004:3). For a better understanding on how short sel ling works, seven basic steps have been summarized below from several authors (Fabozzi, 2004:8; Jones and Lamont, 2002:2; Taulli, 2004:3; Yuille, 2009:5). Additionally Mr. Smith who is a person would like to make a profit via exchange market in the UK will symbolise throughout a text. Step 1- Open an Account and Put in Small Amount: First of all, enterprisers need a bank or a brokerage house account so as to put in their money which could be little. Thus, they are now a player in the stock markets and they can start buying and selling shares. For example, Mr. Smith opened an account in the UK exchange market. Step 2- Making Research About Company: Investors begin to seek to find a share which is reached a peak point in the stock market. They suppose the share price will drop suddenly. Of course, there are some strong indications to make a decision that its price will fall down. Mr. Smith found a company named ABC inc. which its prices extremely high which is  £10 per share a nd he think that it will start to decrease in the near future. He needs to borrow these shares from his broker. Step 3- Borrowing: Whole margin contract permit a broker or a bank to loan out stocks (Taulli, 2004:3). For this reason, when investors make a request in order to borrow these shares, brokers begin to search client securities which will not be sold by owner in the short term. Of course, proprietary do not know it. Mr. Smith found 500 shares to short from his brokerage house. Thus, he is able to sell them. Step 4- Selling: After investors find shares which are suitable for short selling, they sell it immediately. Thus, investors obtain money from shares which are not possessed. Mr. Smith also generated  £5000 by selling shares he does not own. Step 5- Standby Time: This step is the most dangerous time interval for short selling. Because investors are waiting for prices decline right away. If every parameter of stock market is appropriate conditions, investors can make huge money following step 6 and step 7. Mr. X is extraordinarily lucky, because his shares decreased from  £10 to  £6. Thus, he made a gain which is  £2000. Step 6- Collecting Shares from Market: Investors can collect these shares from the exchange market swimmingly. Inasmuchas, there is a chance to buy stock exchange when its price start to decrease. Mr. X found shares  £6. Step 7- Pay-Back: This step is one of the most simple and pleasant phase for short seller. They refund shares to rightful owner. Thus, investors make a profit by means of not their shares. The Stock Price Sinks (stock goes  £6 to ) Borrowed 500 shares of ABC at  £10  £5000 Bought Back 100 shares of ABC at  £6 - £3000 Your Profit  £2000 https://www.investopedia.com/university/shortselling/shortselling2.asp Additionally, the actors the exchange market use different kinds of short selling named Naked Short Selling. If short seller, who has not taken on loan the stocks or has borrowed shares with a well contract, or does not remain faithful by repayment date, markets share short, he or she is joined in undesirable naked short selling group (Culp and Heaton, 2008:46-47). This type of sales is more relentless and has a number of severe consequences. For these reasons, a lot of developed and developing countries have banned naked short selling in recent years due to global economic crisis. The Risks It is important to realize that investors have to decide to make short selling in order to gain more money in the right place at the right time. It can be seen that the price of exchange has had highly variable throughout economic history. While a shares price increase or decrease today, nobody knows that it will continue to rise or drop tomorrow. Because stock quotes are influenced by a number of parameters when in view of their marketing price at exchange market such as politics or supply and demand balance. To this respect, investors who have borrowed shares can make a profit by means of short selling as they can loss. Should they would like to gain money for this way, they have to be more careful than other investors. As Elliott (2010) remarks, If you do decide to short, the two most important factors to remember is to focus on leaders breaking down and go short primarily at the beginning of market declines. It can be said that to decide falling the exchange market is the most significant part of short selling because it is based on this rule. As a matter of course, there are numerous investment trusts who have accomplished by following to overall analysis. However, there is not a considerable amount of unsuccessful business enterprises. A key argument for encouraging people to sell short barrowed securities in exchange markets is that short selling is a highly profitable process. If investors take professional help and make a further research about which shares will invest, they could earn profit highly likely. For this reason, brokerage firms try to exhort their customers in order to sell short. However, the number of people who make money in this way is much less common in societies except some examples. One of them is George Soros who is the most famous market player in the world and Soros owes a big part of his wealth to the short selling. According to Taulli Soros earned a fortune by means of short selling in sterling. In recent years, British Ce ntral Bank has expended 15 million dollars worth of foreign exchange reserve and increased the interest rate in order to notice to the overvaluation. Famous speculator George Soros has already had his position and has performed his plan with his 10 billion dollar borrowing. When the value of Sterling against the German Mark was declined, he has discharge a debt Sterling which was cheaper with the German Mark and he has realized a profit of $1 billion in a few days (Taulli, 2003:13-14). Although this example presents a good outcome for its investor, it does not alter the truth that short selling has a number of disadvantages. Nevertheless, it is clear that short selling includes a number of risks which could lead to money loses. Individuals are able to consider that the result of a short selling as fundamentally the adverse of a normal purchasing process; however, the duration of short selling has unique handicaps. For this reason, borrowers who are on the point of doing short sel ling need more attention and further investigation in order to accomplish, otherwise the result of short selling can be destructive for them. Not only borrowers but also lenders hang by a thread because of short selling. In order to insight short sellings risks both borrowers and lenders, these risks can be specified in order of priorities. There are two risks which are the handicap of debt reclaim and the handicap of prices move in opposite direction to the expectations for borrower. Borrowers have to find the most suitable lender for short selling since time is the most significant part of it. Because, debt reclaim pose a danger every time for borrowers. Reclaim risk is a kind of handicap of the share being reclaimed by the owner of shares before the debitor is disposed to pay off a debt, which takes place in roughly 2% of the borrowing in the example of a investigation (DAvolio, 2002:271-306). Because of the fact that short seller would like to have much more time in order to wait adequately and make maximum profit. For this reason, reclaim risk should be managed by borrowers working with owner of shares that is most probably willing to lend the shares for a long time (Fabozzi, 2004:14). Otherwise, if lenders would like to be paid back their shares untimely, short seller will be forced to collect not enough fallen or increased shares from stock market and this will also cause borrowers to lose money. Additionally, another risk of short selling is that although investors have an expectation which prices would fall, its price can rocket suddenly. Thus, short seller would lose a huge amount of money instead of making profit. Even investors deficiency can be infinitive owing to the fact that price of securities can increase to the last (Kern et al, 2010:1). On the other hand, a share is not able to decrease under zero, hence short sellers profit is finite. As Yuille (2009:7) points out, bottom line: you can lose more than you initially invest, but the best y ou can earn is a 100% gain if a company goes out of business and the stock loses its entire value. Thinking about all these things, it can be said that short selling is a kind of gamble which has catastrophic consequences. Because nobody knows exactly when shares price decrease or increase without elaborated research. These clearly demonstrate that short selling has a number of disadvantages for borrowers. In addition, short selling affects lenders in a negative way. The biggest problem faced by lenders is whether borrowers recall securities on time or not. Recall risk is the major risk which barrowers have difficulty refund shares that are taken to return to lenders for a short time. Should borrowers not pay back lenders securities, there are a number of problems between borrowers, lenders and brokerage firm. For instance, lender could want to sell him or her shares while another person has these shares. If he or she does not retrieve own shares on time, losing may become unavoi dable. As mentioned above, short selling is a type of gambling which no one knows consequences of it, hence these kind of events occur over and over again. Governments Opinions About Short Selling In the 2007-2009 financial crisis, most of stock composite index lost in value a considerable extent all around the world like other crisis. These declines are golden opportunity for short seller in order to make a profit by borrowing high, paying back low. Even, some people believe that one of the reasons of financial crisis is the short sellers effects on stock markets to make money hand over first. For this reason, a number of governments and economic communities prohibited short selling for stock exchange securities. Because, to earn exorbitant sums is possible during a time of crisis by means of short selling due to the fact that downward trend can be estimated easily. Not only crisis periods but also short sellers can gain huge amount of money with manipulative techniques in the usual case. Because of these reasons, governments and economic communities have negative thought about short selling since it leads to unlawful profit both crisis periods and normal periods. Most o f governments do not allow to short selling in a time of crisis because they think that short selling influences national economy negatively which leads to downtrend without cease. The most significant indicator of financial crisis is dramatic decrease of shares price in the stock market and this decline in the stock exchange spreads globally. On such an occasion, short sellers borrow a number of shares, which trades on the stock exchange started to fall, from lenders and they make a profit. For example, in 2008, in order to prevent dropping banks and financial firms share prices, the US Securities and Exchange Commission (SEC) banned short selling in the exchange market. According to Beber and Pagano (2010) the SECs move sparked worldwide herding by regulators. In the subsequent weeks and months, most stock exchange regulators around the globe issued bans or regulatory constraints on short selling. Thus, a number of investors did not make short suitable shares in order to make a pr ofit smoothly. Of course, short selling is a big opportunity for these circumstances and it is simple way to get money. However, countries economic situation would be influenced adversely when short selling becomes widespread. The most important question to be asked here is that should short selling be banned or not in such cases. On such an occasion, investors intents become significant since some of them have passion about making money. For that, investors who would like to make money via short selling could make manipulation to continue to dawnward trend especially for bank shares (Ralp, 2009). Stock exchange is suitable for manipulation since shareholders can give direction to the trend of bank shares. For this reason, in economic crisis even normal circumstances, gamesman who skilfully manipulated for their own interests could alter shares price. This also leads to unfair competition. In order to prevent these happening, German banned short selling not to disrupt the financial markets. From above discussion it can be said that governments should be banned short selling due to fact that there are further negative influences than its positive effects. Disappointing Examples A further reason why short selling has a number of bad results is that there has already been a lot of disappointing examples about it. In recent years, short selling has affected numerous people with direct or indirect ways. Some of investors who are short player have lost a huge amount of money by means of short selling and some of them also have incurred loses owing to short sellers negative effects on themselves. Even sometimes, there are some saddening consequences which resulted in death especially by making a decision without further researches. Thus, short selling influences people in negative ways which have catastrophic consequence despite it has a few advantageous about making money. The following examples show that short selling affects people in two ways: direct and indirect. Adolf Merckle who is the one of the richest people in Germany experienced short selling bad outcome tragically. Merckle transformed his company which inherited from his family a small pharmaceu tical firm into a giant employing 100,000 people, 120 companies and the value of 40 billion dollars and he was in 94-odd ranked in the Forbes 2008 rich list with a fortune of $9 billion (Connolly, 2009). However short selling with exorbitant sums became his end. According to Boyes, toward the end of 2008, he borrowed hundreds of millions of dollars Volkswagen shares and he sold them via short selling. However, when Porsche surprisingly announced their plan seized control of Volkswagen, VW shares in two sessions rocketed from 210 euro to the 1000-odd to the euro. Merckle could not pay his debts. Banks have compressed him and he was pressured to dispose of some companies. Then, near his villa, a 74-year-old billionaire had committed suicide by jumping bottom of the train (2009). What was the fault of Merckle. The most significant shortage in that situation was a lack of research. If Merckle had made further researches about short selling, he could have gained a lot of money and he cou ld not die. The most important thing for short selling is that investors get the right stocks at the right time and they should make a number of investigations about it. However, in some cases, short selling influenced people in indirect ways. On the one hand a few people make huge amount of money by means of short selling on the other hand a number of innocent people incur loss because of others. For instance, Goldman Sachs which is an investment bank and securities company led investors to lose money by selling securities short. According to Williams, Goldman Sachs using short selling made manipulation and Goldman raised expectations in the markets falling. Thus, Goldman made huge amount of money by repurchasing securities which was sold high price before from stock market (2010). Of course, this event caused to have a disappointment by other investors and they incur loss money because their securities price decreased dramatically. This event is definitely not a fair way of mak ing money since the decline in the market was Goldman. In order to prevent this kind of events, governments and investors should be extremely careful to avoid loosing money. Conclusion In conclusion, it can precisely be seen that short sellings negative effects on both investors and governments are more than positive influences in stock market. This essay has attempted to substantiate that although short selling has had some benefits in order to make a profit it is false to characterize as innocent due to the fact that it has a number of risks. There are a lot of people who have lost their wealth by means of short selling. For these reasons, this essay has demonstrated that it consist highly risk process and it led to a number of disappointing consequences for direct way or indirect way to its investors. In order to show these, some tragic examples was given for best understanding its risks. Indeed, despite some governments and financial institutions banned short selling in their stock market, it will still continue to be used as a method for obtaining money. To minimize the risks of short selling, investors should be more careful and they need further research t o reduce its negative effects. Additionally, short sellings rules in stock markets should be organized again by governments and finance markets. Thus, manipulative stock exchange operations could be reduced and investors would feel safer economically. Otherwise, short selling should be banned all around the word in order to for other investors do not lose money.