Free Essay

Management Consultancy 2015 Edition Chapter 5

In: Other Topics

Submitted By ejsc08
Words 3468
Pages 14
CHAPTER 5

MAS PRACTICE STANDARDS
AND ETHICAL CONSIDERATIONS

I. Questions

1. “Role” refers to the relationship of the CPA as a consultant to the client management and personnel. The basic role of the CPA in performing MAS is to provide advice and technical assistance to the client.

2. Practice standards are necessary in the consulting practice in order to promote the highest quality of performance of the practitioner.

3. Refer to page 71, par 2

4. Refer to page 71, par(s) 4 and 5

5. Refer to page 72, par 3

6. Refer to page 73, par 1

7. Refer to page 74, par(s) 2 to 4

8. Refer to page 75, par(s) 2 to 6

9. Refer to page 75, par 4

II. Multiple Choice Questions

|D |D | | |
|A |C | | |
|C |D | | |
|D |D | | |
|D | | | |

III. Cases

Case 1

Nondisclosure is not considered an acceptable alternative because it makes you an accessory to the fact. Disclosure to the offending party only - with no action - may result in the destruction of part of the evidence. Probably, the first step is to report the matter to the chairman of the board. Circumstances, however, may require that the matter be referred to an external body such as the Securities and Exchange Commission, Justice Department, Bureau of Internal Revenue, or the shareholders.

Case 2

The appropriate action depends on the type of company:

1. Privately held company in which the president is the owner: Discuss the matter with the president who, as owner, can make the decision. 2. Company with several shareholders in which the president holds a controlling number of shares: Discuss the matter with the president. If the president accepts the recommendation and resigns, the problem is resolved. Otherwise, the matter should be discussed with the chairman of the board and the board of directors. 3. A large publicly held company: The tendency here is to step over the president and go directly to the chairman of the board. This is unwise. You have a responsibility to discuss it first with the president.

Case 3

The honest and ethical solution is to tell it as it is. The most tactful approach is to make a full disclosure to the president privately, pointing out the vast growth of the company and the tremendous changes in technology that have occurred since he, as controller, installed the system. If he understands the danger in which he is putting himself with regard to a possible dissident shareholder, he probably will acquiesce and agree to go forward. If he doesn’t, and this is a privately held company in which he has control, you have accomplished your task. In a publicly held company, you may need to report the problem to the chairman of the board if the impact on the annual report is serious.

Case 4

Professional ethics requires that you accept only those engagements which are felt to be beneficial to the client. Clearly, if the results of the study are favorable, the client will be benefited. There is only a 50 percent chance, however, that this will result. The question, therefore, is whether a 50 percent chance of benefit is sufficient to pursue the study. Many consultants would answer yes to this question and accept the engagement because of the potential profit. The consultant who faced this situation declined the engagement and suggested that the client should use the money set aside for the feasibility study to employ an advertising firm to help them sell the bonds. This decision was justified by what the consultant thought was the client’s best interest.

Case 5

Ethical conduct requires that you not misrepresent facts and never subordinate judgment to others. Further, you should not serve a client under terms or conditions that might impair objectivity, independence, or integrity, and you should reserve the right to withdraw if conditions develop that interfere with successful conduct of the assignment.

The consultant who was faced with this situation refused to follow the direction of the president, and the president refused to pay the consultant’s fee. The president wanted to use the consultant as a means for firing a vice president. Ultimately, the fee was settled and no report was issued.

Case 6

Professional ethics require honesty, integrity, and placing the interests of the client or prospective client ahead of personal interests. The fact that this is an internal consultant, as opposed to an external consultant, makes no difference. The internal consultant wrote the report based on the available facts and was discharged.

Case 7

This is considered an ethical issue because its solution involves the future of the consultant’s personal doctrine and nonprofessional associations as well as the effectiveness and integrity of the consultation process in which the consultant is about to engage. The principles involved in this case are not uncommon.

Although accepting such engagements would not be in violation of the code of ethics, acceptance would be ethical only if the consultant’s relationship with the client firm were completely divorced from the consultant’s personal doctrine and the client was made aware of the consultant’s values. These circumstances are not likely, and the consultant would be justified in declining such an engagement because of a conflict of norms.

Case 8

This arrangement is not acceptable under professional ethics. A consultant should not pay a fee or commission to obtain a client or franchise a business practice. The fact that the client came first and the commission came second in this case makes no difference. The commission is being paid to franchise a business practice.

The consultant who was faced with this situation accepted the engagement. After it was completed and he had paid the fee to the public relations agency, it was discovered that the city manager’s brother owned the public relations agency. This disclosure was made in conjunction with the city’s audit. The consultant willingly cooperated with the attorney in prosecution of the case. The matter was brought to the ethics committee and, while the consultant was in violation of the ethics code, he was discharged with a reprimand. His willingness to assist in the prosecution and the fact that he was not prosecuted in the case were significant in this decision.

Case 9

You are not in a good position from an ethical point of view. Your position as a director provides you with a significant influence over the direction of the company. As such, you have a responsibility to do what is best for the company. Your responsibility to the consulting firm is to secure employment to keep your people busy. By being both director and consultant for the same company, you are in a position that creates a conflict of interest, which is in violation of the code of professional ethics.

Another problem is your planned conduct in the upcoming board meeting. It is not honest and ethical for you to remain silent when you have relevant information on a decision. You have a responsibility to express your feelings about the proposed engagement even if it means losing the engagement.

The solution here is to resign from the board of directors and become an advisor to the chairman. You should point out how you feel about the installation of the sophisticated system at this time. An objective decision can then be made by the board on all the available facts.

Case 10

(a) The parties directly affected by Leo’s decision are the two clients in that they will either split the expenses or each will pay for them in total.

(b) Yes. If the clients discover that Leo has requested reimbursement from both of them, it may provide them the junior consultants in that consultancy firm lack ethical values.

(c) Yes. If the clients discover that Leo has requested reimbursement from both of them, it may provide them with the impression that the consultancy firm is not observing proper ethical values.

(d) Obviously, the ethical course of action is to split the expenses between the two firms. If either client found that Leo requested total reimbursement from both of them, it is highly unlikely that he would receive an offer of employment.

(e) Again, the ethical course would be to inform the firms and obtain the proper reimbursement.

Case 11

(a) The information provided does not indicate a violation of the Code of Ethics. Zabio may offer to perform the service on a contingent fee basis because she does not perform financial statement audits, reviews or certain compilations or prospective financial information examinations for Wee Corporation. Although Zorro performs audits for Wee Corporation, his firm may perform such services for the P30,000 fixed fee.

(b) The Code of Ethics prohibits the performance of such services for a contingent fee when the public accounting firm performs financial statement audits for the client. Therefore, Zorro cannot provide the service for a contingent fee without violating the Code.

(c) Zabio may still provide the service on a contingent fee basis. However, since the Code of Ethics prohibits the provision of financial information systems design and implementation services for an audit client (independence is impaired) Zorro can not provide the service, even for a fixed fee.

Case 12

(a) The auditor should inform the management of Rojo Company of the underpayment for store fixtures and existing liability of P54,000. An adjusting entry should be proposed to increase the cost of the store fixtures and to increase accounts payable to the correct amount.

(b) The unpaid portion of the liability amounting to P54,000 is definitely a liability and the auditor has a responsibility to see that all known liabilities are included in the balance sheet. Failure to do so would render the financial statements misleading, and would constitute dishonesty and willful misrepresentation on the part of the auditor. A belief by management that it may be able, through trickery, to avoid paying its debts is no justification for omitting such debts from the balance sheet. However, it is not the responsibility of the auditor to try to force management to pay the liability. The company may include the P54,000 amount as part of the total of accounts payable on the balance sheet without identifying the creditor or taking any steps toward paying the debt. Such action would meet the requirement of adequate disclosure in the financial statements and would permit the auditor to issue a report indicating that the statements present fairly the financial position, operating results, and cash flows.

Whether the auditor would be justified in using the information gained in the audit of Rojo Company to reopen an account receivable on the accounting records of Western Showcase, Inc. constitutes a puzzling question in professional ethics. To do so might be considered a violation of the professional and confidential relationship between the auditor and the client, Rojo Company. Failure to take action, on the other hand, might be regarded as a breach of faith with the second client. It could be argued that the auditor has a duty to speak so that an obvious injustice may be corrected.

If the auditor had not been retained by Western Showcase, Inc., he would not have been justified in going to that concern on his own initiative and disclosing the existence of the uncollected account. However, since he has been retained to make an audit of Western Showcase, Inc.'s financial statements, he should, in the opinion of the authors, utilize all information at his command to develop an accurate determination of the company's financial position. Professional conduct would seem to call for him to review accounts receivable of Western Showcase, Inc. very carefully. In the course of doing so, he will "discover" the underbilling of Rojo Company, and propose an adjustment to reinstate this receivable. Also, during this investigation of receivables, the auditor may find accounts from other customers incorrectly handled; the fact that the error in the receivable from Rojo Company went undetected suggests that internal control over receivables may be weak in the Western Showcase, Inc. system. Note that this is the opinion of the authors and that the Code of Ethics does not directly address the issue.

Case 13

(a) First assume that Mayfair Corporation is a nonpublic company. Before expressing his opinion on the financial statements, Thea Mendoza, CPA, must assess his relationships with the corporation and determine whether his opinion would be considered independent by someone who has knowledge of all facts. The CPA must maintain strict independence of attitude and judgment in expressing an opinion on the financial statements. The CPA's services in this situation consist of advice and technical assistance, but management still retains its responsibility to make the managerial decisions. Hence, it is difficult to believe that a reasonable observer would see any conflict of interest in the mere fact that the auditor, in addition to rendering an opinion on the financial statements, also applied his technical knowledge and skill to the improvement of management's planning, control, and decision-making processes. On the other hand, if the installation of the computer recommended by the CPA involves a material expenditure of funds by the corporation, it might be argued that in a subsequent audit the CPA would appear to lack objectivity in considering internal control since he made the recommendation.

(b) Paragraph 240.5 of the Code of Ethics for Professional Accountants in the Philippines provides that:

In certain circumstances, a professional accountant in public practice may receive a referral fee or commission relating to a client. For example, where the professional accountant in public practice does not provide the specific service required, a fee may be received for referring a continuing client to another professional accountant in public practice or other expert. A professional accountant in public practice may receive a commission from a third party (e.g., a software vendor) in connection with the sale of goods or services to a client. Accepting such a referral fee or commission may give rise to self-interest threats to objectivity and professional competence and due care.

Paragraph 240.4 also provides that:

The significance of such threats should be evaluated and, if they are other than clearly insignificant, safeguards should be considered and applied as necessary to eliminate or reduce them to an acceptable level. Such safeguards may include: • An advance written agreement with the client as to the basis of remuneration.

• Disclosure to intended users of the work performed by the professional accountant in public practice and the basis of remuneration.

• Quality control policies and procedures.

• Review by an objective third party of the work performed by the professional accountant in public practice.

Case 14

(a) The Code of Ethics and related SEC regulations prohibit the auditors of public companies from performing:

(1) Bookkeeping or other services related to the accounting records of financial statements of the audit client.

2) Financial information systems design and implementation. 3) Appraisal or valuation services, fairness opinions, or contribution-in-kind reports.

4) Actuarial services.

5) Internal audit outsourcing services.

6) Management functions or human resources services.

7) Broker or dealer, investment adviser, or investment banking services.

8) Legal services.

9) Expert services unrelated to the audit.

(b) There are a number of arguments that have been set forth for restricting nonattest services for audit clients, including:

(1) It is not possible for the auditors to objectively evaluate their own nonattest work as it relates to the audit. Thus independence related to the audit is impaired.

(2) The additional fees derived from nonattest services serves as an additional threat to auditor independence.

(c) The arguments that have been set forth for not restricting nonattest services include:

(1) Auditors have been providing nonattest services for audit clients for years in an objective manner.

(2) The additional knowledge of the client obtained from performing nonattest services actually enhances the performance of the audit.

(3) As long as the client establishes effective oversight over the performance of the nonattest services, the auditors can perform them in an objective manner.

(d) Responses by students may vary, including some of arguments in (b) and (c).

Case 15

CPA liability to clients may be based on (1) breach of contract, (2) a tort action for negligence, or (3) both. Under common law, in general, the client must prove the following to establish CPA liability:

• Duty—the CPA accepted a duty to exercise skill, prudence and diligence. • Breach of duty—the CPA breached that duty. • Loss—the client suffered a loss. • Causation—the loss resulted from the CPA's negligent performance.

In this circumstance it would seem that the above elements might be proven in a case against Ju & Grace. This seems particularly likely given the fact that inexperienced staff assistants operated without sufficient supervision.

Case 16

(a) The following arguments might be advanced in favor of advising Silver Plus as to our opinion of the value of the properties:

• Millennium Resources may be perpetrating a fraud upon Silver Plus. If we say nothing, we may appear to be aiding and abetting that fraud.

• If Silver Plus pays an excessive price for the properties and subsequently must write them down to an estimated recoverable value, it will sustain a large loss. We have information that may prevent our client (Silver Plus) from incurring such a loss. Remaining silent would constitute a lack of professional care with respect to Silver Plus.

• Silver Plus knows that we, as auditors for Millennium Resources, have information as to the fair value of these properties. Our silence may be viewed as tacit approval of the transaction.

FASB 19, para. 28, may be used as reference in the absence of specific guidelines under PFRS. It states:

When unproved properties are acquired, their acquisition costs are capitalized when incurred. Whether the unproved properties will ultimately produce future benefits—that is, whether the properties contain proved oil and gas reserves—is unknown at the time of acquisition. (Emphasis supplied)

In this situation, however, we have considerable evidence that the properties do not contain significant oil and gas reserves. This evidence was sufficient for us to agree that Millennium Resources should write these properties down to a carrying value of P9 million to avoid overstatement of assets. As we have knowledge of the impaired value of these properties, it would be difficult for us to allow Superfund to not write the asset down to a similar amount.

• If we insist that Silver Plus write these properties down to, say, P9 million, Silver Plus will probably sue us and allege that our silence was the proximate cause of their loss. Our exposure appears to be approximately P33 million (P42 million - P9 million).

(b) The following arguments might be advanced in favor of not offering advice to Silver Plus:

• Giving Silver Plus any information about these properties would violate our ethical responsibilities to Millennium Resources for confidentiality. • The transaction price in the purchase or sale of assets is a managerial prerogative. It is inconsistent with the role of the independent auditors to intervene because they believe one or the other of the transacting parties is receiving a bad deal.

• We are not experts in the value of oil and gas properties, which is highly speculative by any standards. It may turn out that these properties are a bargain at P42 million.

• As far as we know, Millennium Resources has not made any misrepresentations of fact or violated any laws. We have no right to intervene in a transaction merely because we believe that our client is about to earn a surprisingly large profit.

• If we offer our opinion of the value of the properties to Silver Plus, Millennium Resources will probably sue us for breach of confidentiality.

• There is a certain autonomy between offices of a national firm. Millennium Resources is a client of the Cebu office, while Silver Plus is not. If Silver Plus were the client of another CPA firm, it is doubtful that we would even consider the possibility of alerting the other auditors or their client as to our opinion of the economic value of the properties.

(c) Our opinion:

We consider it to be totally inconsistent with the role of an independent auditor to intervene in a transaction between a company and its customers on the premise that the auditors have a "greater wisdom" than the transacting parties. Millennium Resources is not, to the auditors' knowledge, doing anything illegal. Furthermore, all of the information at the auditors' disposal is confidential. Barring a flagrant violation of the law by one of the transacting parties, we do not believe that auditors have either the legal responsibility or the right to interject their unsolicited opinion into the business transaction of audit clients.

If the auditors had become aware that the client was fraudulently overcharging for the property, our solution would of course, be different.…...

Similar Documents

Premium Essay

Chapter 5

...Brett Simons Chapter 5: Cross-cultural Negotiation & Decision Making Negotiation The chapter starts with defining negotiation as the process of discussion by which two or more parties aim for mutually acceptable agreement. It also states that the art of negotiation is widely considered the most important skill in International Business. I find that very interesting and kind of a surprise to me, but when you think about it, all business interactions are based on some type of negotiations (even meaningless stuff like meeting times). Because of this, negotiations also affect the ability for a manager to implement strategy. Finally, just like the running theme of this book, ignorance and poor research of native bargaining rituals, can cause unimpressive result. The Negotiation Process The process in which proper negotiation occurs is broken down into five stages. The first stage is preparation. This, to me, is the most important stage of the process. Before you can move on to any other stage effectively, you have to have done your homework as a manager. The second stage is building a relationship. You need to get to know your counterpart and their positions. It helps you stay ahead of their responses so you can react to them more effectively. The third stage is the exchange of task related information. This can include presentations and such but can be tricky when dealing with different cultures. As the book points out, researching how different cultures......

Words: 506 - Pages: 3

Premium Essay

Project Management Chapter 5

...Contract Design Decisions: An Empirical Analysis of Federal Contract Characteristics by Craig R. Smith Assistant Professor School of Public Administration & Policy Eller College of Management University of Arizona Tucson, AZ & Deanna Malatesta Assistant Professor School of Public and Environmental Affairs IUPUI Indianapolis, IN As American government expanded from its relatively humble origins, public administrators and managers had to seek out and employ additional methods to meet citizen demands. As a result, in recent decades contracting out services to nongovernmental organizations has emerged as the primary alternative to direct provision by public employees and become an indispensible tool of governance. Moreover, the private, for-profit and nonprofit sectors have been progressively more active in public service delivery to enable governments to meet the changing demands of their constituencies while facing the external challenges imposed by politicians, federal regulations, and reform movements (Milward and Provan 2000). In fact, the term governance is often used to evoke a broad, multi-dimensional approach to service delivery, which stretches beyond the “lonely” public organization (Pierre and Peters 2000; Lynn et al. 2001). Indeed, governmental and nongovernmental organizations often develop mutual dependency in a service delivery or policy domain, which has been conceptualized in various ways including public sector networks, alliances, partnerships,......

Words: 5521 - Pages: 23

Free Essay

Management Consultancy

...Substitutes, Supplier Power, Buyer Power, and degree of Rivalry. 3. What should be scanned in the task environment? Task environment is actually another term for the industry environment. The four main components that exert influence in industry are: Suppliers, Competitors and potential substitutes, Potential entrants, and Buyers. These four are the most important component that should be scanned in the task environment. 4. Discuss how a development in a corporation’s societal environment can affect the corporation through its task environment. 5. How can managers identify external strategic factors? a. Environmental uncertainty b. Issues priority matrix c. New entrants d. Entry barriers e. Rivalry f. Substitute products g. Bargaining power of buyers and suppliers h. Bargaining power of other stakeholders a. Environmental Uncertainty- Situation where the management of a firm has little information about its external environment that is in a state of flux and, hence, largely unpredictably. b. Issues Priority Matrix- is a way to identify and analyze developments in the external environment. Managers can use it to decide which environmental trends should be merely scanned (low priority) and which should be monitored as strategic factors (high priority).  c. New Entrants- new comers to an industry. They typically bring new capacity, a desire to gain market share, and substantial resources. In this part, managers look......

Words: 622 - Pages: 3

Premium Essay

Project Management Chapter 5 Review

...Week 5 Review Questions March 2, 2013 1. The project manager’s primary attention must be on activities that are on the project’s critical path because if there is any delay at all, it would cause the project to be delivered late. 2. For any activities on the critical path, there is zero amount of slack. For activities not on the critical path, the slack is calculated by subtracting the ES (earliest start) from the LS (latest start) or by subtracting the EF (earliest finish) from the LF (latest finish). 3. To determine the ES for a item with 2 predecessors, the project manager should look at each predecessor to see if either one of them or both of them are on the critical path. The ES is the later of the 2 predecessor’s LF. The LF for an activity with 2 successors is determined by looking at each successor’s LS and determining which one has an earlier LS. 4. All the activities on the project’s non-critical path will not have the same slack because each of them can have different predecessors and different successors and different timeframes. 5. A. 4 B. 2 & 3 C. 5 6. Dummy tasks are used in situations where 2 activities have the same starting and ending nodes to make sure to be able to distinguish between the activities and not have the 2 activities be considered the same activity. 7. Because task d is only 6 days and task c is over double than task d so we can safely assume that a merge problem won’t occur because in all likelihood, task d...

Words: 363 - Pages: 2

Premium Essay

Chapter 5

...QUESTIONS CHAPTER 6 1. Do you think governments should consider human rights when granting preferential trading to countries? What are the arguments for and against taking a such positions? A: Yes, because human rights are of great importance in all aspects and must be respected. But you need to take in count that human rights are different in other countries that are not subject to the bill of rights. 2. Whose interests should be the paramount concern of government trade policy the interests of producers (business and their employees) or those of consumers? A: I think both should be of great importance because they must work together to reach all the goals. 3. Given the arguments relating to the new trade theory and strategic trade policy, what kind of trade policy should business be pressuring government to adopt? A: The strategic trade policy because it has best export tariffs and subsides, so you can get strategic effects to their development in the international market and more intervention of other countries. 4. You are an employee of a U.S. firm that produces personal computers in Thailand and then exports them to the Unites States and other countries for the sale. The personal computers were originally produced in Thailand to take the advantage of relatively low labor costs and a skilled workforce. Other possible locations considered at the time were Malaysia and Hong Kong. The U.S. government decides to impose punitive 100 percent and......

Words: 450 - Pages: 2

Premium Essay

Chapter 5

...CHAPTER 5: ACTIVITY-BASED COSTING AND MANAGEMENT QUESTIONS 5-1 Product costs are likely distorted when a firm uses a volume-based rate if the plant has more than one activity in its operations and not all activities consume overhead in the same proportion. The more diverse the product mixes of the plant are in volume, sizes, manufacturing processes, or product complexities, the greater the cost distortions are likely to be in using a volume-based rate. Undercosting a product may appear to have increased the reported profit the product earned (assuming the firm did not lower its selling price because of the reported lower product cost). However, the increased profit is, at best, a twist in truth. Costs of the product not charged to the product itself are borne by other products of the firm. Worse, undercosting a product may result in managers erroneously believing the product to be more profitable than other products and shifting the limited resource the firm has into manufacturing, promotion, and sales of the product when, in fact, other products are more profitable to the firm. Severe cost distortions may lead firms not to drop unprofitable products because the cost data show these products are profitable. 5-3 Overcosting does not increase revenues. A firm can increase the selling price of a product, thereby increasing the total revenue from the product only if the market allows. Increases in the selling price of a product without experiencing noticeable decrease in the......

Words: 15950 - Pages: 64

Free Essay

Case for Critical Analysis Chapters 1 & 2 (Understanding Management: 8th Edition)

...Gabriel Almack CHAPTER 1: CFCA 1.) Their problems seem to have all developed form each other. Low employee morale may have stemmed from the company’s lack of new and innovative ideas, and the low morale doesn’t help in motivating the employees to come up with new ideas. This lack of new ideas has caused the company to fall behind the competitive foreign and domestic competition, leading to an obvious decline in market share. In order to reduce these problems, I believe it is important to start with the consumer. What products are the customers demanding? Time spent researching consumer products related to what they are producing could help them come up with new ideas, increasing morale and consumer spending, and allowing them to stay competitive with their foreign and domestic competitors. It also appears that leadership in the company is lacking. Their idea of appointing group leaders to help come up with new ideas was good, but these people also seem to have little experience in such roles. Perhaps some sort of training of top and middle managers would help them to better understand the role they are being places into, giving them a chance to better lead their group members. The confidence and experience they would gain from training would help them in motivating their employees. 2.) I understand Martin Griffin was trying to accomplish in breaking each department up into teams; appointing a long-time employee as the group leader, facilitating brainstorming sessions,......

Words: 1323 - Pages: 6

Premium Essay

Survey of the European Management Consultancy

...Survey of the European Management Consultancy 2011/2012 December 2012 This report was prepared for FEACO by: Dr. József Poór Ágnes Milovecz Ágnes Király © Research Center on Management and Human Resource Management, University of Pécs, Pecs, Hungary Table of Contents Introduction by the FEACO CHAIRMAN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Key Figures, 2009–2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 1 Scope of the Market and Methodology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2 Europe – Market Size, Forecast & Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 2 .1 History and Projections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...

Words: 17973 - Pages: 72

Premium Essay

Chapter 5

...FOUNDATIONS OF TAOIST PRACTICE by Jampa Mackenzie Stewart When you try to define Taoism, you immediately run into trouble. The great Taoist philosopher and author of the Tao Te Ching, Lao Tzu, begins his first chapter with the warning words, The Tao that can be described is not the eternal Tao. The name that can be named is not the eternal name. Thus Westerners are not the only ones who have a hard time defining Taoism; the Chinese have had difficulty time agreeing on just what Taoism is for millenia. Taoism is sometimes defined as a ritualistic religion, as a philosophy, as Chinese folk religion, as alchemy, as a system of magical lore, or as a series of health practices similar to yoga. The adherants of each school often look with disdain on the others as being heterodoxy, heresy, or simply incomplete portions of the great Tao. The Chinese word Tao (pronounced "dow") means "the way, the path." In the common sense it refers to the way of doing anything, or the pathway to some destination. In its higher meaning, Tao refers to the way of the universe, the way things are. As a spiritual system, Tao means the way to achieving a true understanding of the nature of mind and reality, to the way of living in harmony with the changes of Nature. Thus the Tao is the goal, the path and the journey all in one. A Taoist then, is "a follower of the Way," the same title by which the early Buddhists and Christians dubbed themselves. The earliest Taoists appeared at least four thousand years...

Words: 7643 - Pages: 31

Premium Essay

Chapter 5

...Chapter 5 review questions – Abhinav Anand 1. List all decisions a network administrator need to make prior to Oracle database installation. A: Before an installation of an Oracle database server, administrators need to verify the hardware, software, and network compatibility on which the Oracle Server will be running. 2. Of the additional options and features available for Oracle, identify the security-specific applications. A: Advanced security option, an application that offers encryptions and authentication tools to keep data confidential and secure both inside the database and while in transit. Label Security, a set of tools designed to provide multitiered security capabilities for protecting data by classifying data for which access rights and privileges are then assigned and monitored. Oracle Active Data Guard, improves performance and ensures data recovery by maintaining a replica of a main database to act as a secondary database for workload sharing and failsafe. 3. Explain the advantages and disadvantages of offering an unrestricted, freely downloadable full version of Oracle Database to learners and developers. A: Oracle offers a free download of all editions of the Oracle Database for purposes of education, testing, or development. Personal info or a license key is not required. Disadvantages to this may include granting crackers or cyber threats the ability to freely download versions of Oracle Database for the purpose of understanding how to......

Words: 384 - Pages: 2

Premium Essay

Chapter 5

... THE LEADERSHIP TRAINING ACTIVITY BOOK 50 Exercises for Building Effective Leaders LOIS B. HART, Ed.D. CHARLOTTE S. WAISMAN, Ph.D. AMACOM AMERICAN MANAGEMENT ASSOCIATION New York | Atlanta | Brussels Chicago | Mexico City | San Francisco Shanghai | Tokyo | Toronto | Washington, D. C. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www.amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Hart, Lois Borland. The leadership training activity book / Lois B. Hart, Charlotte S. Waisman ; foreword by James M. Kouzes. p. cm. Includes index. ISBN 0-8144-7262-1 1. Leadership—Study and teaching—Activity programs. I. Waisman, Charlotte S. II. Title. HD57.7.H383 2005 658.4′092—dc22 2004019036 © 2005 by Lois B. Hart and Charlotte S. Waisman All rights reserved. Printed in the United States of......

Words: 63004 - Pages: 253

Free Essay

Leg 107 Week 5 Quiz 3 Chapter 5 & 6 New 2015

...LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 To purchase this visit here: http://www.activitymode.com/product/leg-107-week-5-quiz-3-chapter-5-6-new-2015/ Contact us at: SUPPORT@ACTIVITYMODE.COM LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 LEG 107 Week 5 Quiz 3 - Chapter 5,6 NEW 2015 Version Activity mode aims to provide quality study notes and tutorials to the students of LEG 107 Week 5 Quiz 3 Chapter 5 & 6 NEW 2015 in order to ace their studies. LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 To purchase this visit here: http://www.activitymode.com/product/leg-107-week-5-quiz-3-chapter-5-6-new-2015/ Contact us at: SUPPORT@ACTIVITYMODE.COM LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 LEG 107 Week 5 Quiz 3 - Chapter 5,6 NEW 2015 Version Activity mode aims to provide quality study notes and tutorials to the students of LEG 107 Week 5 Quiz 3 Chapter 5 & 6 NEW 2015 in order to ace their studies. LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 To purchase this visit here: http://www.activitymode.com/product/leg-107-week-5-quiz-3-chapter-5-6-new-2015/ Contact us at: SUPPORT@ACTIVITYMODE.COM LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 LEG 107 Week 5 Quiz 3 - Chapter 5,6 NEW 2015 Version Activity mode aims to provide quality study notes and tutorials to the students of LEG 107 Week 5 Quiz 3 Chapter 5 & 6 NEW 2015 in order to ace their studies. LEG 107 WEEK 5 QUIZ 3 CHAPTER 5 & 6 NEW 2015 To purchase this visit......

Words: 461 - Pages: 2

Premium Essay

Accounting: Tools for Business Decision Making Edition 5 Chapter 1 Notes

...Accounting: Tools for Business Decision Making 5th Edition Chapter 1 1. Forms of Business Organizations * Sole proprietorship: owned by one person * Easy to set up * Gives you control * Examples: barber shops, law offices, auto repair shops * Partnership: business owned by two or more people * More economic resources * Unique skills and resources * Important to have written partnership agreement forms * Examples: retail and service-type businesses, professional practices * Corporation: business owned by stockholders * Easy to sell (transfer ownership) * Consists of stockholders and investors * Easier to raise funds * Examples: Coca-Cola, General Motors, ExxonMobil * Hybrid Business: tax advantages of partnerships and limited liability of corporations * Taxes and legal liability are important * Sole proprietorship have more favorable tax treatments but personally liable for debts and legal obligations 2. Users and Uses of Financial Information * Accounting: information system that identifies, records, and communicates the economic events of an organization to interested users * Users: internal users and external users * Internal Users: managers who plan, organize, and run a business * Examples: marketing managers, production supervisors, finance directors, and company officers * Accounting provides internal reports......

Words: 782 - Pages: 4

Premium Essay

Management of Organization Chapter 5

...MNGT 3165 Assignment 5 Please briefly answer the following questions: 1. How does planning affect the success of a business? a. Planning sets the stage for resource acquisitions and the focus of energy for the entire organization. Planning provides direction and a common sense of purpose for the organization. It helps to determine the operations and how those operations will affect the organization before commitments are made 2. How are mission statements, goals, objectives, and plans related? a. The mission statement provides answers to why an organization exists. The goals and objectives of an organization should flow in a unified harmony from top to bottom within the organization. The objectives should coincide with the vision. In turn, plans must directly relate to and stem from a systematic and combined approach to answering what the purpose of the organization actually is. 3. What are the purposes of strategic, tactical, operational, and contingency planning? In what situation would an organization use each? a. The purpose of a strategic plan is to help the organization look ahead over the next two, three, four, five, or even more years in an attempt to prepare the organization for operational success during these years. b. The purpose of tactical plans is to help units achieve the strategic plans...

Words: 563 - Pages: 3

Premium Essay

Business Chapter 3 Edition 17

...ASSIGNMENT #2 (CHAPTER 6) READ THE CHAPTER THOROUGHLY BEFORE ANSWERING THE QUESTIONS. PROVIDE ADEQUTE EXPLANATIONS TO YOUR ANSWERS. ANSWERS SHOULD NOT BE COPIED FROM ANOTHER SOURCE. PART I Explain Key terms of page 166 with proper explanations. PART II Select the correct answer (You can high light) 1. A business plan is best described as a a. | crystal ball picture. | b. | money plan. | c. | contingency plan. | d. | game plan. | 2. The primary outside users of business plans are a. | employees. | b. | investors and lenders. | c. | customers. | d. | government agencies. | 3. Which group would be the most interested in a business plan for a new venture? a. | Customers | b. | Lenders | c. | Supervisors | d. | The Internal Revenue Service | 4. Jill is writing a business plan for a small home based operation. If well written, the business plan will assist her in determining if a. | the business aligns with personal goals. | b. | an investor would be a perfect fit for the proposed company. | c. | suppliers can be found for the operation. | d. | outsiders can be made into insiders. | 5. The document that assists an entrepreneur and the management team focus on important issues and activities is a. | the organization chart. | b. | the budget. | c. | the sales analysis. | d. | the business plan. | 6. A business plan a. | is best for telling insiders about the company. | b. | is more......

Words: 2471 - Pages: 10