Issues Of Financial Statement Frauds Finance Essay - Free Essay Example

Sample details Pages: 16 Words: 4850 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Frauds using erroneous financial information have straight association with accounting standards. False information is moreover made-up information with no support from authentic projects or relates to accounting standards and codes. Given that the commencement of modification, China has made growth in improving accounting codes. Actually, the designing and accomplishment of accounting codes can manipulate information openness and give increase to the opportunities to generate false information. ÂÂ  (Journal Ratings List Australian Business Deans Council) Accounting codes is a very scientific concern. Numerous think the accounting codes as a steel ruler that allows no imprecision. On the other hand, the complication of modern wealth has put some areas of accounting theme to prudence and understanding or even personal partiality, which result in a ruler with suppleness. The subject of accounting codes did not draw much consideration at the commencement of the transformation. It was not in anticipation of 1993 that reforms were witnessed in business accounting and regulations.ÂÂ   Throughout the Asian financial disaster more solid improvement was made in improving the account rules, which should be documented and appreciated. Simultaneously, that more is necessary to be done to bring our accounting rules up to the international standards. Several people still think in China there are too complex an accounting system as well as a corporate accounting system and also distinguishing accounting systems for dissimilar industries. For ex ample, some business accounting rules need enterprises to construct value-loss reserves based on the recoverability of assets. Even though accounting rules of dissimilar industries have comparable requirements, they are all insufficient in terms of dependability comparing to business rules. Another subject is that, given that there was no comfort of a well-built accounting industry and exterior auditing facilities, when banks assessed the dependability of enterprises financial information, they did not need borrowers to offer exterior auditing results. In the prospect, banks may believe acquiring financial information audited by accounting firms and evaluation on enterprises observance and borrowing conditions made by law firms, and assessment of collaterals made by assessment firms and bond classes given by rating firms.ÂÂ   On the other hand, it may take years for the exceeding transitional services to develop, and the proficiency, reputation, brand-name, service excellence a lso take tens of years to build. Are the audited statements trustworthy? It actually depends and relates to the expertise and internal control of the firms. The development of intermediate financial service providers is exaggerated by market liberalization as well. If all of these issues cannot be dealt with successfully, likelihood of enterprises providing false information and engaging in financial frauds will persist to be high.ÂÂ  (Journal Ratings List Australian Business Deans Council) Don’t waste time! Our writers will create an original "Issues Of Financial Statement Frauds Finance Essay" essay for you Create order This circumstance is not about stock assessment, product quality or whether or not Microsoft has domination power in its markets.ÂÂ  Nor is it part of a pro or anti-Microsoft movement.ÂÂ   This position is instead an unblemished instance of financial fraud and dishonesty enabled by bad government policy.ÂÂ   Still the finest are manipulating the financial statements. This is the cause why it is significant to stop treatment of financial statements. There are lots of reasons why persons dishonestly manipulate their organizations financial statements. It may perhaps be to look companys earning better. It may be as well to disguise the embezzlement of company money and other management frauds. A few of the most general reasons why employees commit financial statements frauds are: To give confidence to investment in the company To reveal augmented earnings per share, thus encouraging increased dividend payments To cover depressing cash flows To attain new finances or to attain it in more positive terms than would otherwise be provided To attain higher purchase price in conquest To reveal fulfillment with financing covenants To meet corporation goals and objectives To obtain presentation related bonuses It should be noted from this list that the inspiration for financial fraud does not essentially engage personal gain. Fraudulent financial statements often happen from the pressures moreover the organizations or its managers to perform jointly with the conviction that the deception will not be detected. These pressures may act as red flags to the auditor and fraud examiner. (Journal Ratings List Australian Business Deans Council) Examples of such pressures are: Unexpected decreases in the companys sales or market share Unrealistic budget pressures, chiefly for short term results Financial pressures arising from extra plans that depend on short term economic presentation. FRAUD DETECTION USING FINANCIAL STATEMENTS As a forensic accountant, you may perhaps not for all time have to rebuild financial statements, but you should not obtain the ones given on face value.ÂÂ   Its more a state of mind than a technique.ÂÂ   The analysis of accounting records with no such a state of mind is called auditing. Looking for symbols of fraud is forensic accounting.ÂÂ  An auditor, on the other hand, may help offer an exploratory lead by discovering the nonexistence of a business reason for a transaction.ÂÂ   Otherwise an auditor might find an inadequate amount of certification for a transaction.ÂÂ  All these inconsistencies and out-of-ordinary transactions will be fraction of any standard audit report.ÂÂ   Forensic accountants will be looking additional into these matters for suspect transactions, and may wonderfully start with the journals or ledger to analyze the Explanation segment of books. For instance, a capital investment account might declare the name of someone outside to the organization, and securitization of the books might set up that Malik Bashir is also like mad involved in cash disbursements for supplies or subcontracted services.ÂÂ  The examination then proceeds from securitization to comparison, looking for similar vendors or subcontractors to see from such benchmarking if incredible is out of the ordinary with him.ÂÂ   The innovative basis documents cancelled checks written to him might be analyzed to see which bank they were cashed at.ÂÂ   Those foundation documents might disclose that the bank transferred the deposit to an additional account or name that was on the State Departments Entities list.ÂÂ   Fraud is frequently exposed when a number of small events, taken jointly, point to a probable pattern of dishonesty, and the following indicators are the classic red flags, according to the IRS (1999), which speak about to deception throughout financial statements and accounting systems: (Journal of Forensic Accounting (JFA). R.T. Edwards) Maintaining two sets of books and records (and/or destruction of books and records) Camouflage of assets (distorted entries in advantage categories) Great or recurrent cash transactions (or common utilize of cashiers checks) Payments to invented companies or persons false invoices or billings (unnecessary billing discounts or double billing) purchase of over-valued assets (excessive spoilage or defects) Huge company loans to employees or other persons Using photocopies of basis documents instead of originals Personal expenses paid with shared funds Payee names left blank on checks and filled out later Second or third-party endorsements on shared checks Needless employ of compilation accounts Too much use of exchange banks or clearing accounts The basic difficulty is that Microsoft is incurring huge losses and only by accounting illusions that they are able to explain a profit.ÂÂ   Particularly, Microsoft is giving way to extreme amounts of stock options that are allowing the company to understate its costs. What would ensue to Microsofts stock price if the communal unexpectedly realized that they lost $10 billion in 1999 somewhat than earning the reported $7.8 billion?ÂÂ   If 80 percent of its stock worth or approximately $400 billion is the result of a pyramid method, one might also ask what type of consequence this could have on the departure system. It is also significant to note that this is a comparatively new situation that did not happen before 1995.ÂÂ   Microsoft has always been a extremely valued stock and that might have been defensible earlier to 1995. (Journal of Forensic Accounting (JFA). R.T. Edwards) There are many fundamental reasons for financial risks. Foremost, the speedy global economic, technological and financial development has made it hard to concentrate on new problems with presented theories and experiences. Between these are the uncertainties in financial constancy. Second, in the changeover from designed to market economy, some aspects of institution building is still in a formless, non-planned and non-market, or conflicting stage. Third, actuality has proved that all kinds of problems in the economy are reflected in the workings of the financial system, which was mainly obvious throughout the Asian financial crisis. Financial risks if not addressed in a appropriate manner, could carry on to raise and expand into economic and financial disaster. We must put more stress on understanding the financial risks and the doubts involved. Simply by taking appropriate measures, could possible risks to be removed. It is a worldwide knowledge that the longer the risks are left u nattended, the harder it is to solve them. METHODS OF COMMITING FRAUD THROUGH FINANCIAL STATEMENTS Deception includes the offensive practice of resources and the distortion of details to obtain gain. It is connected to the misallocation of resources, or the indistinct reporting of the continuation and accessibility of resources. Fraud is a leech that maims and ultimately kills an organization. After some time, its infectious consequence would find its way to another host organization. It erodes the base lines and in the end or eventually the very continuation of any organization is unenthusiastically impacted. No matter what an organization is, be it non-profit or profit/business in nature, it cannot stay healthy to endure and be aggressive if fraud continues to go unobserved and unrestricted because clearly any organizational resource that is misallocated or misused threatens the sustained continuation of an organization. Several of the methods through which financial frauds are committed are mentioned below: (Journal of Forensic Accounting (JFA). R.T. Edwards) Fictitious revenues Fictitious or made-up income involves the recording of the sale of goods or services that did not take place. Fictitious sales typically engage fake or fictitious customers, but they may engage lawful customers. For instance, a fictitious invoice may be equipped for a rightful customer where the goods are not delivered or the services are not rendered. At the start of the next accounting era, the sale is then upturned. Another technique of using lawful customers accounts is to change invoices to comprise higher amounts or quantities than are in fact sold. Profit and revenue appreciation is based upon the subsequent criteria: Definition Measurability Relevance Reliability The term revenue is not distinct either in the Companies Acts or in any current accounting standard. The adjoining position to it is in SSAP2 regarding the carefulness concept: revenue and profits are not probable, but are renowned by addition in the profit and loss account only when realized in the appearance either of cash or of other assets the definitive cash realization of which can be assessed with sensible certainty; provision is made for all known liabilities (expenses and losses) whether the amount of these is known with certainty or is a best estimate in the light of the information available. Further than one method may be used concurrently in order to exaggerate sales. In the following instance, the corporation used fabricated sales, premature or untimely gratitude of revenue. EXAMPLE A person required to lift its financial standing and engineered conjured transactions over a period of more than seven years. Its management used shell companies to make a number of fictitious sales. The sham transactions also involved the payment of money for assets to the shell companies that would be returned to the parent company as payment for fictitious sales. The scheme went undetected for so long that profits were inflated by more than 50 million. On the other hand, the fraud aroused the suspicions of the internal auditors. The scheme was uncovered and the perpetrators prosecuted in both the civil and criminal courts. A book keeping entrance is made to trace the purchase of fabricated fixed assets. This debits fixed assets for the quantity of the acquisition and credits cash for the payment in the common way. A fictitious sales admission is then made for the same quantity as the false purchase, debiting debtors and crediting sales. The result of this totally fabricated succession of events is to augment both the companys assets and revenue. Pressures are located on owners and top management to carry out by bankers, shareholders, and even families and the community. The subsequent examples are instances in which they succumbed to the enticement to influence the numbers. EXAMPLE In a similar case, a publicly traded textile company engaged in a series of false transactions designed to improve its financial profile. Receipts from the sale of shares were paid to the company purporting to be sales. The management even went so far as to record a bank loan as profit. By the time the scheme was uncovered, the company books had been overstated by 30,000, in this case a material amount3. The pressures to entrust deception sometimes come from inside the organization. Departmental budget requirements counting profit and profit goals also support financial declaration fraud. EXAMPLE The accountant of a small company misstated financial records to disguise its financial problems. He designed a series of book keeping entries to meet budget projections and to cover up losses on the pension fund. Also, because of poor financial performance, he consistently overstated profit. To hide this, he debited liability accounts and credited the shareholders equity account. The accountant finally resigned, leaving a letter of confession but was later prosecuted in criminal court. Uncompleted sales These engage sales that are made on convinced conditions that have not been met or not finished, by the end of the accounting period and possession has not yet accepted to the purchaser. They should not be documented as profits until finished. The most common examples of this are provisional and consignment sales. EXAMPLE ABC person sells products that require further engineering before they are acceptable to customers. However, it records these as revenue before this has been done. In some cases, it may take weeks or even months. In other cases, the sale is specifically contingent upon the customers trial and acceptance of the goods. (JFA: Editor-in-Chief. R. T. Edwards) The income account would necessitate correcting to fulfill with the income recognition standard. In addition, a provision needs to be finished for the undeserved sales on Project C. An entry needs to be made on the subtraction side of the Sales account to reduce the sales for the period by 17,000 and carried down as a credit balance to symbolize unearned sales. This equilibrium should then cancel the 17,000 debtor on the balance sheet. In January, the project is started and finished. The entries below show the accurate recording of the 15,500 of costs linked with the project: The outcome of these book keeping entries is to identify revenue and expenses for the period to which they really relate, i.e. January, thus matching them. This instance illustrates how effortlessly the non-adherence to the matching principle may cause a material misstatement in annual Profit and Loss Accounts. Premature income recognition and the problem of long term contracts Normally, revenue should be documented in the accounting records when a sale is absolute; that is, when title is approved from the seller to the buyer. Transmit of ownership completes the sale and is typically not final until all obligations surrounding the sale are complete. This raises the difficulty of long-term contracts, particularly construction contracts. A contract which extends for more than one year will typically require to be accounted for as a long term contract under SSAP 9 (para. 22). At this point, revenue should be ascertained in a manner both appropriate to the stage of the agreement and to the business in which the industry operates (para. 28). For example, if the outcome of a long-standing contract can be assessed with sensible assurance before its termination, the reported income should be the dissimilarity among the reported revenue and the related costs for the contract (para. 29). No definition of revenue is given in SSAP9. It simply states that turnover is ascertained in a way suitable to the phase of conclusion of the contract, the business and the industry in which it operates. It is left to individual firms to choose according to their own circumstances. On the other hand, the amount of profit taken in an accounting period would usually relate to divide or measurable parts of the contract completed within that period. for this reason, even though accounting for long-term contracts represents an exception to the usual definition of sales (their occurrence being determined by the fleeting of ownership), it is based on conservatism and sound conclusion leading to true and fair financial reports. Misrepresentation occurs when these principles are not functional. The subsequent instance illustrates how untimely appreciation of proceeds not only leads to financial declaration distortion but also encourages additional fraud. EXAMPLE The management of a retail chemist chain began recognizing profit before it was earned. The impression given was that the chain was much more profitable than it essentially was. When this came to light and was investigated, several embezzlement schemes, fictitious expense schemes and cases of credit card fraud were also uncovered. EXAMPLE Time Energy Systems, Inc. developed, promoted, and marketed energy conservation systems including hardware and software for managing power supply use in buildings. The company formed limited partnerships to raise capital for its operations. Interests in the limited partnerships were sold to provide the funds to purchase equipment from Time Energy. Time Energy needed to report good profits: (1) to encourage investment in the limited partnerships and (2) to obtain bank loans. As the limited partnerships were Time Energys primary customers, there were few sales from which it could otherwise generate profitability. It decided to create fictitious profits by charging management fees for research and development work to the limited partnerships. These were charged before the services were performed. Time Energy also failed to make a provision in its accounts for the costs it would incur in providing the services. There are many reasons for premature recognition. Profit may be just one reason for recording profit before it is actually received. EXAMPLE The chief executive of a charity attempted to maximize donations by manipulating its books. As future donations were dependent upon its achievement so far, he recorded promised donations before they were actually received. The scheme had been in continuation for more than four years before it was discovered. Recording expenses in the wrong period The correct recording of expenses is often influenced by pressures to meet budget projections and goals. This may be facilitated by lack of proper accounting controls. The charging of costs to periods other than the one in which they actually relate may cause them not to be matched against the profit that they have produced. EXAMPLE Here supplies were purchased and charged against the current years budget, but were actually to be used in the following accounting period A manager at a publicly traded company completed months of operations remarkably under budget. He therefore decided to gethead start on the next years expenditures. He bought 30, 000 of unneeded supplies and charged them against the current years budget. (JFA: Editor-in-Chief. R. T. Edwards) The interior auditors noticed the augment in expenditure and investigated the situation. The manager explained that he was beneath pressure to meet budget goals for the following year. Since he was not attempting to deceive the company for personal gain, no legal action was taken. The correct recording of the above transactions would be to debit stock for the original purchase and subsequently charge the items out of that account as they are used. The example journal entries below show the correct treatment by charging the supplies over time. Concealed liabilities As discussed earlier, understating liabilities and expenses is one of the ways in which financial statements may be dishonestly manipulated to make a company appear more profitable or more valuable than what it would otherwise appear. Understating liabilities has a positive effect on the balance sheet, in that the equity and net assets are increased by the amount of the understatement. Understating expenses, on the other hand, has the effect of inflating net profit. Overstated profit has the effect of overstating shareholders equity. (JFA: Editor-in-Chief. R. T. Edwards) Concealed liabilities and expenses can be difficult to detect because often there is no audit trail. There are three common methods for concealing them: liability and expense omissions, capitalized expenses, and failure to disclose warranty costs and liabilities. Liability and Expenses Omissions The easiest method of concealing liabilities and expenses is just not to record them. They may perhaps or may not be recorded at a later time, but this does not change the deceitful effect on the financial statements. For the reason that they are easy to conceal, omitted liabilities are most likely one of the most difficult to discover. A methodical review of all balance sheet date transactions, such as increases and decreases in creditors, may help in the discovery of omitted liabilities in financial statements. Frequently, perpetrators believe they can complete the deception into future periods. They frequently plan to recompense for the omitted liabilities with other revenue such as increased profits from future price Increases. (JFA: Editor-in-Chief. R. T. Edwards) EXAMPLE The owner of a widely traded retailer falsified financial statements by concealing liabilities and inflating stock. The purpose was to increase productivity, thereby attracting new investors. He intended to obscure the fraud by increasing selling prices when the expenses were charged. On the other hand, a tip-off by an employee to the companys audit committee caused an exploration. Fraudulent Capitalization of expenses The difference between capital and revenue expenses arises out of the matching sense. Capital expenditure is spending that produces benefits to the company over a future accounting period (most likely more than one). Manufacturing equipment costs are an illustration. Revenue expenditure, on the other hand, is expenditure matched with present revenue whose benefits only enlarge to the current accounting period. An instance of this is wages, which are costs for work done in the current accounting period, which is either billed during the period or carried forward with stock as work in growth. (JFA: Editor-in-Chief. R. T. Edwards) Capitalizing revenue expenditure is a method of mounting profits and assets as it is charged against future profits rather than straight away. The result is that profit for the present period is overstated and for succeeding periods, it is understated. Often normally accepted accounting principles are not always clear regarding the capitalization of costs so abuses may happen. The fraud examiner should be conscientious in ascertaining whether it is suitable to capitalize expenditure and discuss with applicable accounting standards. Fraudulent charging of capital expenditure against profits Immediately as capitalizing expenses is incorrect, so is charging to the Profit and Loss Account costs that should be capitalized. A company may perhaps desire to reduce its net profit for to tax reasons. Charging alongside profits an item that should be depreciated above a period of time may assist accomplish lower net profits and, consequently, less tax to be paid, Internal budget constraints also put stress on accounting staff into misallocating capital items as revenue costs. Fraudulent accounting for returns, allowances and warranties An incorrect responsibility for these will happen if the company fails to correctly account for possible product returns or repairs. It is expected that a convinced percentage of products sold will, for one motivation or another, be returned. It is the job of administration to try to precisely approximation what this will be and make stipulation for it. (JFA: Editor-in-Chief. R. T. Edwards) In warranty responsibility fraud, the problem is either misplaced in general or significantly understated. A comparable case is accounting for the liability arising from substandard products (product liability). EXAMPLE A manufacturing company produced government weaponry. Some did not meet up stipulation and the company was responsible for resolving this. Management decided to distinguish the cost as items were returned and the work was performed which would be conducted over a substantial future period. Malfunction to estimate and record the whole warranty cost resulted in a material understatement of costs and exaggeration of profits for the periods in which the contract revenues were received and the accountability was not recorded. Misleading disclosure While it was discussed previously, accounting principles need that financial statements and related notes comprising the entire information essential to put off the user from being misled. Management has a compulsion to divulge all significant information in a suitable way. If not disclosed in the financial statements, the essential information should emerge in the footnotes or elsewhere in the report. (JFA: Editor-in-Chief. R. T. Edwards) The information that is disclosed should also not be confusing. Fraud during incorrect or deceptive disclosure typically involves one of the subsequent: liability omissions, significant event omission, related-party transactions, and accounting changes. FINANCIAL STATEMENT ANALYSIS The assessment of financial statements provides significant information for the fraud examiner. Absolute values in the accounts offer only a limited amount of information. The conversion of these numbers into ratios or percentages allows the assessor of the statements to scrutinize relationships between accounting numbers and assist comparisons with data for other companies of a dissimilar range. Accounting ratios adjusts for differences in size as the denominator is typically a measure of size. In deception discovery and exploration, the determination of the reasons for the relationships between accounting numbers and changes in these may be significant. These are potential red flags that may point an examiner in the direction of a deception. If large sufficient, a fraudulent misstatement will influence the financial statements in such a way that relationships among the numbers become questionable. Many schemes are detected since the financial statements, when examined intimately cannot be supported. (JFA: Editor-in-Chief. R. T. Edwards) Alternatively, some management frauds may engage a whole cover-up in the financial statements and a scrutiny of the reported aggregated data will not present any indication of fraud. In cases where financial statement study may propose areas for investigation by the fraud examiner, he should accept one of the two approaches: An inductive approach: This involves an entire analysis of the financial statements in an effort to recognize inconsistencies and anomalies in the reported data that may recommend fraud. A deductive approach: This presumes that the fraud investigator has received a proposal of fraud. As a consequence, he may be capable to theorize as to how the financial statements should be affected if the fraud has been committed. His task is basically to test the premise. Financial statement analysis comprises what are identified as: Vertical analysis Horizontal analysis Ratio analysis Percentage analysis There are usually two methods of percentage scrutiny of financial statements: vertical and horizontal analysis. Vertical analysis It is a method for analyzing the relationship flanked by the items on the financial statements (the Profit and Loss Account, Balance Sheet, or Statement of Cash Flows) by expressing components as percentages. This technique is frequently referred to as common sizing. In the vertical analysis of a Profit and Loss Account, turnover is allocated 100%; for a Balance Sheet, total assets are assigned 100%. All other items in each of the sections are uttered as a percentage of these numbers. (JFA: Editor-in-Chief. R. T. Edwards) Vertical analysis emphasizes the relationship of statement items inside an accounting period. These relationships can be used with historical averages to conclude anomalies in the accounts. Horizontal analysis It is a method for analyzing the percentage change in personage financial statement items from one year to the next. The first period in the scrutiny is considered the base, and the changes to following periods are computed as a percentage of it. As with upright analysis, this method will not work for frauds connecting small amounts of money. It is significant here to believe the amount of the change in addition to its percentage. A 5% change in a very huge item in the accounts may in fact be greater than a 50% change in a much slighter item. In this piece I have discussed what are the frauds are dedicated throughout financial statements how they are dedicated and what procedures are followed to reveal them. All this information not only helps us to know that their deceitful practices being carried out there (which I wont follow my self after knowing the way to do them) but also what are the gaps in the current financial principles. The thing to observe is these gaps can be uninvolved to put off and confine these fraudulent practices but it is not being done and the deception through finance and accounting is escalating. Entirely I can say is that the companies them selves should support ethical practices in their culture to nip the difficulty in the bud. We know it is probable that the honest man not produce rich as fast as the deceitful one; but the achievement will be of the truer kind, earned lacking fraud or injustice. And even though a man should for a moment be ineffective still.

Effective Communication And Good Leadership - 2262 Words

Effective communication is a critical skills that leader must possess in order to manage a project or programme successfully. The main focus of this text is to discuss why effective communication plays an important role for leadership and how leadership share its similarities and differences in project and programme team. Some examples will be given from the exercise to support the idea of how effective communication and good leadership can impact the work progress. Following there will be some recommendations of how the programme review meeting can be improved. 1.1 Reason for project/progrmme communication Communication is important because project management involves 70% to 80% communication and its value increases at programme level since there is often an increase in stakeholders, complexity, and delegation (Levin, 2012). This substantial amount of communication time would suggest that the importance of effective communication is needed in order to achieve objectives. Inefficient communication could result in time/cost overrun since information is not disseminate to the right person quickly or correctly and therefore is likely to create a knock on effect on time and cost. Effective communication can be also seen as a solution for some issues during management. Some typical issues would be lacking the understanding and awareness of other project’s problems and targets during a programme, and team members in a programme are fighting for same space and resourcesShow MoreRelatedEffective Communication And Good Leadership Skills1340 Words   |  6 Pagesway (Linjuan Rita Men, 2015). Managers or leaders for such task are responsible for successful communication and understanding of messages with each and every attendee involved. A person having good leadership skills but lack in skills of communication will never be preferred in any industry for conduction and delivering meetings and speeches or any other sort of public communication. 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Glamourous Free Essays

Dylon de Leon ENGL 100-08 QFRA 6-11 (pg. 186) Feb. 22, 2013 GLAMOUROUS What is glamour? How does it differ from looks, fame and fortune? In paragraph 12 of the article, the first few sentences are very effective. We will write a custom essay sample on Glamourous or any similar topic only for you Order Now They use 3 people that a lot of people know today and go straight to the point about who they are in the political world. This is an example of Givhan’s strategy that was shown to be effective. Givhan uses a few strategies throughout his article. One of the specific strategies was using famous and glamourous people that we see today as rich and famous and see as having fame and fortune. Another good strategy that he uses is pointing out the face between actors that they are not all what they seem and that who they really are isn’t who we see in public, and that what we are really seeing and who we really think they are is just an act. He points out that really glamour makes people forget about who they are and make everything seem so beautiful in the world. Givhan’s claim is simply that the people who we see living their lives full of fortune and happiness is simply not correct. He claims that glamour is just simply not all that great. Givhan states that glamour is situated in the now while cool is a step ahead. This claim makes perfect sense because glamour is just something that is seen in the moment and not in the future. Cool on the other hand is something that is seen outside of what is on the big screen, therefore is seen in more than just the present. It may just be the way that I look at it that makes sense. You can tell the difference between Glamour, Charisma, and cool, by what they show and what makes each characteristic what it is. Glamour is a sort of fairytale, Charisma is personal, and cool is just, well, cool. If someone was to want to be cool, I would suggest that they do something to inspire people as a famous person. Cool isn’t about having lots of stuff and looking good, there is a big difference. To be cool, you have to show the people that you are cool and show the people you are more than just good looks. How to cite Glamourous, Papers

Agricultural Science

Questions: 1. Experiment to investigate potential of organic farming in particular, cultivation of rice in the Bay of Plenty in the North Island of New Zealand. 2. Explain how a life-cycle assessment could be used to determine the potential environmental impacts of organic egg production. 3.Explain the options for supplying phosphorus in organic farming systems. Consider soil characteristics, climate and agricultural production system in your answer. Answers: (1). The Bay of Plenty in New Zealand is a wetland area that is suitable for rice cultivation. The area is a costal region characterized by low lying plains that enable free flowing of water for rice plantation. The area has a range of soil types from alluvial/river deposited to allophonic and Podzolic soils. The area has a sunny climate with dry spells and may experience prolonged rainfall period. The annual rainfall of the area ranges from 1000mm 1200mm. (During, 1984) The system of rice intensification Design of the experiment The main variable under this particular experiment will be the amount of organic matter that will be added to the soil fields. The amount will be varied holding other factors constant like size of the land, amount of water allowed to the rice paddy fields, herbicides that may be added, type of seeds to be used, timings for land tilling and weeding etc and harvesting. The experiment will be conducted using five different fields of rice paddy. Although the area is expected to have similar soil conditions the soils for these five fields must be thoroughly mixed together to attain best possible soil similarity in terms of characteristics. The mixed soils will then be distributed to the five fields and spread on the surface to about 10 centimeters of dept. The fields should not be too big that pose logistical challenges in terms of creating similar conditions across the fields. About 3m2 size per field should be enough. (Dabbert, Haring and Zanoli, 2003) Hypothesis That the rice output per sq meter of rice field is directly proportional to the amount of organic matter added to the field. Methodology Under this experiment all the other principles associated with the system of rice intensification will be held constant. These principles are; Early, quick and healthy plant establishment, reduced plant density and reduced and controlled water application. The field should be made of the same size and be prepared at the same time. There should be five fields prepared. In the first field the amount of the organic matter to be added should be ten spades of the organic manure to the rice field. The second field should have twenty spades of organic fertilizer; the rest of the fields should have thirty, forty and fifty spades of organic fertilizers respectively. This variation is what will determine if increase in the organic matter leads to increase of the production and to what extend. Rice harvested per field is compared by the amount of the organic matter added. (Lampkin, 1990) A graph should then be plotted using the data obtained showing level of production on the y-axis verses amount of organic matter used on the x-axis. The graph will obviously be rising until a point where it starts flattening off. This point is the maximum production or the potential of the land when using organic matter as the fertilizer. Figure I shows table for collection of data. No Field name No of organic fertilizer spades added (x-axis) Kilograms of rice harvested (y-axis) 1 Field 1 10 2 Field 2 20 3 Field 3 30 4 Field 4 40 5 Field 5 50 Figure 1 Figure II shows example of graphical representation of the results Figure 2 Justification The expected outcome of the experiment will resemble above curve because the amount of as the amount of organic fertilizer increases the will be a proportional increase in output i.e. rice harvested until a certain point where by, an increase in amount of organic fertilizer added leads to a decreasing increase of the output. At this point the maximum potential of the organic fertilizer will have been reached. Variation of level of decomposition Design of the experiment In this experiment a number of soil samples from within Bay of plenty are obtained and taken to laboratory for the purpose of varying the level of decomposition. A zigzag method of soil sampling can be used. Once one large sample (about 20 kilograms) has been obtained the sample is thoroughly mixed to obtain a uniform soil sample. Another different set of soil sample enriched with soil organisms like worms, bacteria and fungi encouraged by adding organic matter in the sample is set a side. This second sample will be used to increase soil organisms to various samples respectively. Hypothesis Soil with more soil organisms will be rich in organic matter which in turn will boost productivity of the soil. Soils with fewer organisms that aid in breaking down organic matter into components that can be absorbed by plants has low productivity compared with soils with more soil organisms. Methodology The then different samples are place in a tray that can hold 2 kilograms of soil matter spread in about 2cm thick. The soil rich in soil organisms are added to the ten soils sample in increasing order with the first sample receiving 5 grams and increasing subsequently by 10 grams to the last tenth sample. Each sample must be thoroughly mixed after adding soil organism. The samples will then be left for about one week before equal numbers of seeds are planted to each sample. The researcher can use beans seeds. The sample must be occasionally exposed to sunlight for same duration of time. Every other condition must be held constant e.g. watering and weeding. All the samples must be exposed under similar conditions except for the variable under investigation. The table below is tabulated with data once the experiment is complete. i.e. When the beans are ready for harvesting. Sample name Amount of soil organisms added in Grams Production in Grams Sample 1 5 Sample 2 15 Sample 3 25 Sample 4 35 Sample 5 45 Sample 6 55 Sample 7 65 Sample 8 75 Sample 9 85 Sample 10 95 Figure 3 The graph will then be plotted in x-y axis such that y-axis will have production verses x-axis amount of soil organisms added. See figure 4 below. Figure 4 Justification Soil organisms are responsible for decomposition of organic matter to form organic fertilizers. The more the number of soil organisms the higher the rate of organic matter decomposition the productivity of the soil. Thus the graph will sharply rise during the initial stage of soil organisms increase but it gets to appoint where the graph will flatten off. This is the maximum production level of the land under investigation. (2). The life-cycle assessment can be used to find out environmental impact of organic egg production. Under the first part of the phase the raw materials here the investigation will zero in on the layers feeds. The researcher will investigate about recycling of feeds or/and product downsizing i.e. usage of less inputs to downsize on the output. (Rossberg, n.d.) The second part of the cycle involves investigation on packaging, efficiency in distribution and use of delivery vehicles at are low in pollution. The third part of the cycle will include investigation to determine the extent at which egg is an auxiliary product. I.e. products that require less water and other materials for consumption The final stage will involve investigation into amounts of environmentally harmful components or substances in the egg by products e.g. shells. The factors that will be considered are the measure of; Global worming potential i.e. release of greenhouse gases to the atmosphere during egg production that causes earth warming. Acidification potential of the process of egg production. Acidification leads to reduction of soil PH which affects many soil organisms thus affecting decomposition of organic matters which in turn leads to poor production. Eutrophication potential that is excessive usage of nutrients thereby finding its way to water systems. The time frame of this study will be three months. The data will be analyzed using social statistical tools like SPSS and MS excel with any timescale desired by the researcher. (3). In organic farming phosphorous is mainly supplied by recycling on-farm organic materials like green manures composts and animal wastes. These organic materials contain phosphorus materials which are broken down into phosphate components that can be absorbed by plants. This method works best for loam soils and climate with wet and dry spells. (Panda and Hota, 2007) Addition of green manures to the soil also has ability to increase the rate at which phosphorus materials can be mineralized. This works best for any soil types suitable for agriculture with moderate rainfall. During the preparation of organic fertilizers phosphorus rocks can be added to the residues so that as the phosphorus rock disintegrate it spreads across the compost which is letter used for organic farming. This method also works best for agricultural soils like loam soils with areas receiving moderate rainfall of about 600mm -1000mm per annum. Requirements for organic farming certification are: A detailed description of the farm process to be certified. A record of farm inputs or substances added to the land for the last three years. The organic products that are produced from the farm. An organic system plan that describes the practices and materials to be used. Phosphorous sources available include organic and inorganic sources. Organic sources of Phosphorus are composts with animal bones and fish wastes. The solubility characteristics of this type of source is low but to enhance it more green residue is added to the compost manure in order to speed up mineralization of phosphorus. For inorganic source like phosphate fertilizers the solubility of the mineral phosphate is higher so long as water is available enough to dissolve the phosphate. A study titled Meeting the phosphorus requirements on organic farms explored ways in which phosphorus can be added to the soils, Namely Soil organic matter, cover crops rock phosphates and mycorrhizal fungi. The soil organic matters are broken down by soil micro organisms into particles that can be absorbed by plants. The plant covers provide some of the soil organic matter. Mycorrhizal fungi colonization improves P uptake in the soils. This is a symbiotic relation where the fungi get food and shelter from the soils. The rock phosphate are sources fro the readily available P that are easily absorbed by plants once they are dissolved. (Nelson and mikkelsen, 2016). References Dabbert, S., Haring, A. and Zanoli, R. (2003). Organic farming. London: Zed Books. During, C. (1984). Fertilisers and soils in New Zealand farming. Wellington, N.Z.: P.D. Hasselberg, Govt. Printer. Lampkin, N. (1990). Organic farming. Ipswich, U.K.: Farming Press. Nelson, N. and mikkelsen, r. (2016). . Panda, H. and Hota, D. (2007). Biofertilizers organic farming. New Delhi: Gene-Tech Books. Rossberg, J. (n.d.). Beginning application lifecycle management.