Communication and Family - 974 Words

The written word is arguably humanity’s most powerful tool. Writing allows for the sharing of ideas, memories, and events, all facets of the human experience. Such communication plays a pivotal role in the development and growth of our current, complex society. Moreover, the written word transverses time and space, thereby connecting humans to one another in a manner beyond compare. As demonstrated by the world’s past, written works have changed the course of history altogether. Harriet Beecher Stowe’s Uncle Tom’s Cabin changed the views of slavery in the north and continues to serve as a reminder of the effects of oppression; How the Other Half Lives by Jacob Riis illustrates the plight of poor working-class immigrants; consequently inspiring tangible change to the Lower East Side’s schools, buildings, and sweatshops; The Feminine Mystique by Betty Friedan helped challenge traditional patriarchal expectations by encouraging women to look beyond marriage and motherhood for fulfillment. Certainly, these writers veered away from society’s predisposed conventions in order to uncover a hidden truth of the human condition. In doing so, they became manifestations of what the term â€Å"individualism† rightly entails. Although I have yet to reach the potential to convert into such a writer, certain venues have provided the means for honing the skills needed to properly share my thoughts and ideas, thus allowing me to truly â€Å"thine own self be true.† Keepers of privateShow MoreRelatedFamily And Communication : The Positive Effects Of Family Communication931 Words   |  4 Pagesamounts of studies have shown that family effects the way we all communicate. Believe it or not, a family is one of the key components to why we act and speak the way we do now. Family communication can have a positive and negative impact on people’s lives depending on how he or she has been spoken to as a child and a growing adolescent. Family Communication can have an effect on people depending on who their head parent or guardian is in their life. Family Communication can even affect our identity asRead MoreFamily Communication3424 Words   |  14 Pagessociety many families communication has become a burning issue. Families spend most of their time in communicating, for the execution of routine activities everyone needs assistance and support from others. Then communication process starts, no one can communicate alone. There‘s always a s ender and one or more receivers. Communication is a source of delivering messages from one to another. Through communication people share their ideas, feelings, thoughts and emotions. Communication plays a vitalRead MoreThe Roles Of Family Communication And Family Structure : Personal Communication786 Words   |  4 PagesFamily Structure The structure of a family embodies the way members relate to each other, the roles they establish within the family unit, and the means in which they communicate (Kaakinen et al., 2015). Over time, the need to reconfigure these roles becomes necessary. According to Kaakinen et al. (2015), the ability to adapt to these changes and communicate effectively play a key role in achieving a healthy outcome. Prior to this assessment, Jackson and Shelby had supported a democratic leadershipRead MoreThe Importance Of Family Communication950 Words   |  4 PagesMy topic is, keeping family communication going in today’s technological world. My resource will be a brochure directed towards the family unit. In person communications are being lost to communicating via communication technologies. Keeping communication going in today’s technological world would relate to the Chronosystem level of Urie Bronfenbrenner’s Ecological Theory because not communicating has harmful effects on the family unit within the microsystems. In the first article, we will be lookingRead MoreCommunication and Family Issues6081 Words   |  25 PagesCommunication in marriage Research: Communication In Families Communication is a vital part of everyday life. Without communication we would not be allowed to express feelings, needs or even wants. Communication is more complicated than just speaking to one another. Some families suffer from the lack of communication and it is most important to keep a good communication flow through families. Effective communication is an important characteristic of strong, healthy families. Family communicationRead MoreFamily Conflict Communication : Food And Foster Families : Care, Communication, And Conflict1563 Words   |  7 PagesResearch Paper 2 – Family Conflict Communication Food in Foster Families: Care, Communication, and Conflict Rees’s article in Children Society from 2012 contrasts the differences foster children experience between the food they are provided by their families and the relationship they have with their birth family and foster family because of it. It discusses the way children are provided with food can lessen the amount of conflict they feel is centered on them within their family. The study was conductedRead MoreCommunication Problems in Family Business1269 Words   |  6 Pages Communication Problems in the Family Business Abstract For family businesses, effective communication is an even more integral factor for successful business operations due to the peculiarity that personal (family) emotions frequently interfere with business decisions. Family businesses often have to struggle with conflicts among members of the organization, low managerial abilities, interfered daily business activities, and customer relationships that suffer from the lack of structureRead MoreFamily Process Paper: Communication823 Words   |  3 PagesFamily Process Paper #2 Family Process Paper #2 This paper is a continuation of the family process of the R family. Questions 17-21 on the Friedman long form discuss communication patterns, power structure, values, and family function. Communication Patterns In observing the family as a whole, functional communication was used extensively. When asked questions, both L. and R. took turns responding. They were respectful of one anothers speech and did not interrupt or contradict. Neither wereRead MoreCommunication Patterns in Dysfunctional Families714 Words   |  3 Pagesï » ¿Dysfunctional Families and Communication Patterns Overall, the family is a crucial unit for a range of reasons, one of which is that it teaches children how to socialize and acquaints children with some form of socialization (Janeja, 2003). Within the family, children generally adopt the communication styles of the father and mother, and tend to mimic the methods of conflict resolution. These communication styles and conflict resolution styles generally follow children into adulthood: Many peopleRead MoreNurses And Patient Family Communication1653 Words   |  7 PagesPhysicians and patient family communication is integrated together when determining EOLC for the patient. Communication is defined as the basis of human connection, and allows for each side (patient/family and doctor) to understand the values and concerns of the other (Foster et al., 2010). Physicians also need to support parents and other family members, by providing a bridge to close the gap between the disease and the patient (Himelstein, Hilden, Boldt, Weissman, 2004). This applies especially

Over-diagnosis and Medication for Attention Deficit...

This research paper will include strict academic research. It will begin by introducing the existence of an over diagnosis of Attention Deficit Hyperactivity Disorder (ADHD) and describing the many plausible reasons behind this diagnostic inflation. Although the reasons mentioned in the paper cannot be scientifically tested to provide a direct answer, factual evidence shows a valid correlation. Moving forward, the paper generally addresses the presence of mental disease within the American youth. However, one will see how mental disorders such as ADHD are classified in such broad terms. The format of the education system is examined as it creates a lack of sleep within the American youth. Education within America and inconsistent†¦show more content†¦Diagnosis involves absolutely no prior scientific examination. Psychiatric offices place individuals in a small room to undergo analysis, while doctors assess how the individual responds to stillness and silence. The met hodical diagnosis of the disorder seems to be unfair because the testing process seems as if it is designed for the individual to fail. The fact that no scientific testing occurs makes the testing completely judgmental and inaccurate. Regardless of the method of diagnosis, children finds themselves as the victims. With that, one must ethically question why the American youth are the main targets in the over diagnosis of Attention Deficit Hyperactivity Disorder medication. Through extensive stages of academic research, there exists a correlation between the American schooling system, lack of sleep and ADHD symptoms. Shockingly, the effects of a lack of sleep are almost exactly the same as the symptoms of Attention Deficit Hyperactivity Disorder. However, it cannot be medically proven that a lack of sleep is being misdiagnosed as ADHD. There is a link. Moreover, the correlation of the schooling system and ADHD diagnosis does not solely relate to sleep loss; rather, there exists socio-economic correspondence. Identified within this paper are two specific and possible reasons for the over diagnosis of ADHD: sleep inconsistency asShow MoreRelatedOver-Diagnosis Of Attention Deficit Hyperactivity Disorder.1273 Wor ds   |  6 PagesOver-diagnosis of Attention Deficit Hyperactivity Disorder Attention Deficit Hyperactivity Disorder (ADHD) or Attention Deficit Disorder (ADD) is one of the most commonly diagnosed mental disorder among children and adolescents (UCLA). ADHD/ADD usually becomes apparent in children during preschool and early school years. ADHD/ADD affects 3 percent to 5 percent of approximately two million American children (Frequently). Attention Deficit Hyperactivity Disorder (ADHD) or Attention Deficit DisorderRead MoreThe Deficit / Hyperactivity Disorder ( Adhd )912 Words   |  4 PagesSociety Are we really receiving the correct medication needed within our medicated society today? This article goes over some very important facts about Attention- Deficit/ Hyperactivity Disorder (ADHD). It includes a lot of data and statistics about the disorder, including the shocking statistics that â€Å"approximately 11% of children 4-17 years of age (6.4 million) have been diagnosed with ADHD as of 2011†, and â€Å"the percentage of children with an ADHD diagnosis continues to increase, from 7.8% in 2003Read MoreAttention Deficit / Hyperactivity Disorder Essay1121 Words   |  5 PagesAttention-Deficit/Hyperactivity Disorder (ADHD) Ailene M. Broadbent Mohave Community College Attention-Deficit/Hyperactivity Disorder (ADHD) ADHD is one of the most common neurological disorders diagnosed and treated in children. ADHD often affects a child’s ability to focused for any amount of time and can affect their life adversely if not diagnosed and treated properly. One of the problems with ADHD is that it can be difficult to diagnose and treat, because there are many different conditionsRead MoreIs Adhd over-Diagnosed Among School Children1409 Words   |  6 PagesIs ADHD Over-diagnosed Among School Children? After reading the review, (Is ADHD over-diagnosed among school children?) by C. Collins, I am in agreement with T. E. Elder in that yes, ADHD is over-diagnosed. I chose to accompany the review by C. Collins with the article, Attention Deficit/Hyperactivity Disorder, which originated from the Facts on File; Issues and Controversies Database. After reading both the review and the article I highly believe that ADHD is definitely over-diagnosed. In theRead MoreAdha1079 Words   |  5 PagesAttention Deficit Hyperactivity Disorder By Lakisha Mitchell Nash Community College Learning with Behavior Disorders Catherine Jancso EDU 222 10-22-11 Abstract This paper explores the causes, symptoms, diagnosis and treatment of attention deficit hyperactivity disorder. Attention deficit hyperactivity disorder is a condition that can affect children and adults. ADHD in children can cause trouble with focusRead MoreWhat Is Adhd?. Adhd Stands For Attention Deficit Hyperactivity1564 Words   |  7 PagesWhat is ADHD? ADHD stands for Attention Deficit Hyperactivity Disorder. It is also called ADD for short. ADHD is a brain disorder marked by an ongoing pattern of inattention and hyperactivity that interferes with the everyday life of a person. This developmental impairment of the brain’s self-management system includes problems with motivation, focusing on tasks and monitoring emotions to fit any given environment (Frank). According to the article, ADHD by the Numbers: Facts, Statistics, and YouRead MoreAttention Deficit Hyperactivity Disorder - Essay1391 Words   |  6 PagesAttention Deficit Hyperactivity Disorder Abstract There have been major concerns about the different kinds of learning disorders and the Attention Deficit Hyperactivity Disorder is one. While there are different kinds of the learning disorders which affect the old and the young alike, researchers have not been able to find the cause of Attention Deficit Hyperactivity Disorder. This paper will begin by discussing the definition of the disorder, the recent statistics of childrenRead MoreAttention Deficit Hyperactive Disorder ( Adhd )1210 Words   |  5 PagesADD/ADHD, better known as Attention Deficit Disorder/ Attention Deficit Hyperactive Disorder, is a growing disorder in children and adults alike in the United States. So many people have this disorder now a days that it isn’t a rare thing for a child to be diagnosed with it. In this paper I will go over the cause of ADD/ ADHD, the details about what it actually is and how it affects people, when you need to have the child checked for this disorder, and the many signs and s ymptoms of ADD/ ADHD disorderRead More Behavior Disorders in Children: A Look at ADD ADHD Essay888 Words   |  4 PagesWho Have Attentional Disorders: Diagnosis and Evaluation.† which can be found in Pediatrics in Review, children who have Attention Deficit demonstrate basic signs of inattention, impulsivity, and over activity. The majorities of these behaviors are not appropriate for the child’s age and does not let them reach their full potential. Some diagnosis that a child can receive may require medication, therapy, or both to get a child on track depending on severity of the disorder. Children sufferingRead MoreAttention Deficit Hyperactive Disorder Diagnosis and Treatment1093 Words   |  5 PagesAttention Deficit hyperactive disorder is a prevalent and ever rising affliction in modern societies. â€Å"According to the American Psychiatric Association (2009), attention-deficit/hyperactivity disorder (ADHD) is one of the most common mental disorders in school-aged children(Saemi 179)†.While the initial response to handling the syndrome is to medicate it and continually medicate to stem the Simpsons. This is not a temporary instance to cure the disease just a never ending cycle. It is my belief

The Concept of Materiality as Applied in Coca-Cola Amatil 2015

Question: Describe "The concept of materiality as applied in coca-cola amatil 2015 report". Answer: Abstract This study is mainly objected on the concept of materiality. Materiality is explained in this study and it is also examined how this concept transforms in the case study. Materiality is always an aspect of accounting where all matters that are considered to be important disclosed in a financial statement while those that are not considered important are not included in the financial statement. Materiality concept is applicable in many fields in the economy. It is applicable in governmental auditing, security regulations and many other fields. This case study is based on Coca-Cola Amatil Limited Annual Report for the year 2015. The implication of the concept of materiality is examined in this report and conclusions have been summarized. The annual report for 2015 (Coca-Cola Amatil Limited) is carefully studied to establish the application of materiality concept. The study is also focused on viewing the problems that are often associated with the concept of materiality. This evaluation on the materiality concept was done basing the standards and frameworks of AASB / IASB. AASB /IASB standards and frameworks tend to evaluate the omissions that are there in the financial statement to make the financial statement appear tricky to use or prepare and difficult to read. The whole study is summarized in brief making deductive sentiments from the observations made in the concept of materiality as a whole. A number of deductions have been made in this study regarding materiality. Materiality is viewed at different perspectives and all these are given a brief summary. The Concept of Materiality as Applied in Coca-Cola Amatil Limited 2015 Report Introduction Whenever the term materiality is mentioned, people always think of some information that is being omitted or left out in the financial statement. Coca-Cola Amatil Limited, just like any other private or public entity in Australia, is required to unleash their financial reports after a given time period usually at least once in a year. The government of Australian Government has developed a body that sets the accounting standards that are usually applicable when financial documents are being prepared e.g. when preparing a financial statement. The body was formed in 1991 and it was abbreviated AASB (Australian Accounting Standards Board). The Australian Accounting Standards Board helps in representing the Australian Society when using a conceptual framework to formulate international standards regarding accounting (Mio, Fasan, 2013, p.123) International Accounting Standards Board (IASB) was formed in 2001 to help in formulating standards of accounting and financial reporting standards. The body IASB is operational and it is administered by International Financial Reporting Standards (IFRS). A well composed financial report gives a summary of the financial conditions and the various cash flows that summarize the transactions that took place within the organization after a period of time, say one year. From these financial conditions and cash flows, the organization can be able to determine the sustainability or the profitability of a company. Thus, the financial reports are always prepared based on the International Standards of accounting. Coca-Cola Amatil Limited is one of the most successful bottlers of non-alcoholic beverages that are ready to drink in Asia-Pacific; it is among the worlds best five major Coca-Cola bottlers. The bottling of Coca- Cola products initially began in 1901 in the US. This study, therefore, focuses on their report unleashed in 2015 as the case study. Coca-Cola Amatil is located in New Zealand, Australia, Indonesia, Papua New Guinea, Fiji, and Samoa. Materiality Concept Materiality is a principle in accounting that unleashes that all matters considered trivial are to b ignored or disregarded, while those matters considered crucial and important are to be disclosed when making a financial statement. Financial information is always considered to be material if its disclosure can actually affect the opinion of an individual or group of individuals intending to use the financial statement, for example, investors. However, not that information that is material to one company may be material to another. Materiality concept is much dependent on the nature and size of the organization that is preparing such financial statements. Example on Nature If a company is making plans to base its operations in some geographical segment in which in the past has been a great source of revenue to the company, then the information should be accounted for or disclosed in the companys financial statement as it is material by its nature for the future operations of this company. Example on Size A default customer of Coca-Cola Amatil Limited owed $2000 to the company in 2015. Coca-Cola Amatil Limited has net assets of worth $56million, the information of the customer owing the company is therefore considered immaterial. However, if the amount was around $45million, the information would have been considered material to the company financial statement since its omission would make the users of the financial statement to make wrong decisions and conclusions. Different terms are often usually applied to identify the likelihood implication in materiality guidance. The consideration of accountants often depend on a number of quantitative and qualitative aspects which may include; type of the organization, its size, aggregate base etc. Materiality is a matter of disclosure and thus, the accountants of a given company have to consider all the transactions and events and try to figure out whether the information is important to be disclosed or trivial to be disregarded. It is a provision of Corporations Act 2001 that, a financial statement that is unleashed by a company should be true and fair. Actually, the information that is presented in the financial report needs not to contain misstatements or omissions of materials that are considered material to the company as this would make the users such as auditors and investors make wrong decisions and conclusions on the companys performance. An example is the Coca-Cola Amatil Limited unleashes all those information that are considered material to the company and to the users of such financial report. Coca-Cola Amatil Limited provides their consolidated balance sheet; the information on the balance sheet can be used by the investors to decide on whether to invest in Coca-Cola Amatil Limited or not (Hess, 2014, p.67). The Australian Accounting Standards Board (AASB) requires that financial statements for a particular company should disclose all the material information. AASB 1031 (paragraph 8) materiality standard identifies that consideration should be made regarding materiality as this is useful to various financial statement users. In this case, the standard guides the organization on the reasonable error of omission that may be tolerated and the extent of disclosure. AASB 1031 (2004) paragraph 15 outlines the procedure for determining the materiality of a given amount that is; it is calculated based on a particular base figure. The procedure is as follows; the base figure is determined, the amount whose materiality is to be established is calculated as the base figure. If the percentage is equal to or greater than 10% of the base figure, the amount is considered to be material. On the other hand, if the percentage is equal to or less than 5%, the amount in question will be concluded as immater ial. For instance, taking Coca-Cola Amatil Limited 2015 Annual Report total revenue ($ 5,093M) as the base revenue, the materiality amount of any item in the organization will be determined by comparing the cost of the item to the base figure (revenue). A value that is between 5% and 10% will need the judgment of the account to whether it is material or immaterial. In this case, to determine whether the revenue ($16.8M) is material, the following procedure is followed: Revenue Reserves Interest/Revenue $5,093.6M $16.8M 0.33% From the above, it can be evident that the omission of the borrowings from banks in the financial report will not affect the economic decisions to be made by the Coca-Cola Amatil Limited 2015 Annual Report financial statement users since revenue is an immaterial item for Coca-Cola Amatil Limited. Problems of Materiality Materiality just as any other concept applicable in financial accounting is usually associated with some challenges and problems. There are always mixed views on whether IASB is the appropriate body to continue providing additional guidance on materiality. Some are in the view that the behavioral change is required amongst auditors, regulators and those who prepare such statements. They claim their behaviors are under the influence of operational and legal constraints that are outside IASB influence. Due to these reasons, a claim has always been there that IASB is not an appropriate body to undertake further work in materiality. In AASB 101 standards, paragraph 7 of the same states that the materiality of an item may vary greatly depends on several factors which may include the size and nature of the omission or misstatement in the financial statement. The variance in materiality may be often associated with some problems or challenges. These challenges may include; 1. Decision on materiality In order to decide on the materiality of information, it is upon the auditors to put into consideration a number of factors before they finally decide. At times, information that may be considered material by one auditor may not be the same case to another auditor due to different levels of experience. Thus, decision making on the materiality of an item is always a difficult task that needs critical thinking. The information that the Coca-Cola Amatil Limited auditor may think of to be material may not be of help at some point to the investors and users of the financial statement thus, it is a challenging task to decide on the materiality of an item. 2. Quantitative Reference Points The existing standards actually, do not provide quantitative reference points on materiality concept. When organizations are provided with such references, it is always organizations make adjustments in their financial report basing on the materiality concept (Legoria, Melendrez, Reynolds, 2013, p.312). Materiality owes its basing on professional judgment and experience of the accountants and auditors which are dependent on quantitative and qualitative measurement aggregate base and size. Materiality will be relative depending on the business entity in that an item may be material in one company and the same item may be immaterial in a different company. This is a clear indication that there is no clear guideline on the materiality aspect. 3. Reluctance or Inability to Use appropriate level of Judgment The use of particular and appropriate level of judgment when materiality concept is being applied in financial statements has been a problem. This often leads to firms and entities disclosing everything that IFRS specifies regardless of the materiality level and its understandability. The response of such entities is always to avoid arguments and debates that may arise among auditors, users, regulators etc. They, therefore, unleash the information required by IFRS without checking on the materiality. Sophisticated languages of Disclosure used by IASB/AASB and IFRS Some language used to describe disclosure on materiality may be difficult to understand. This may imply that some items will have to be disclosed in all situations. In some circumstances, analysts tend to complain that some information that may be useful for economic decisions is missing. This is because such information is not specified in the standards (even though standards clarify entities and firms need to disclose additional information that may be necessary to achieve the objectives a basic financial report). There is, therefore, problem of unclear language between the recipient and the developers of the standards (Schlesinger, Libby, Geiszler, 2013, p.231) It can, therefore, be concluded that the issue of materiality is not well handled with the existing IASB / AASB standards and frameworks as it tends to primarily base its judgment on companys financial auditor. However, International Accounting Standards Board is in the process of dealing with such problem. IASB is in due process of introducing more standards that will help to guide the professionals on how to deal with the materiality concept. A project on materiality needs to take into account the cause of inability, difficulty, or reluctance to use judgment. The project ought to allow dialogue on materiality amongst the parties in financial reporting channel. Despite IASB/AASB viewing the concept of materiality as being clearly described in the conceptual framework, it is evident the term materiality is being used to mean different things for different circumstances or purposes. Evaluation of Materiality Issues A material item is a substance, item or information that may be considered to be of benefit to the users of a financial report of a company. When unleashing a financial report, all the material items are included in the report while the immaterial items are omitted. However, at times misstatement may occur to such statements. Misstatements usually arise as a result of fraud or errors made by the auditors. These misstatements can be classified into two types; 1. Known Misstatements Here, the misstatement arises as a result of Coca-Cola Amatil Limiteds auditor making an incorrect selection or misapplying accounting principles. This may also include overlooking or interpretation of data. Known misstatements comprise of misstatements of facts and misstatements involving subjective decision (Anderson, Doxey, Geiger, Janvrin, Polinski, 2016, p.63). 2. Likely Misstatements The auditor of Coca-Cola Amatil Limited may differ in judgments regarding financial accounting, especially where estimation was to be done and the auditor considers unreasonable or inappropriate approximations. The type of misstatement described by the above statement is a likely misstatement. There are some obvious causes of misstatements. These causes may include; Inaccuracy in data collection or gathering. Omission of an amount or information whose disclosure is required Differences in amount, grouping or description of the financial statement. Materiality concept is important for all decision-making processes and it is essential to understand and apply the General Accepted Accounting Principles (GAAP). In order to measure the level of materiality of item or information, a contextual qualitative and quantitative analysis is always done to such provisions. For instance, Coca-Cola Amatil Limited is a big Company with a revenue base of $5093.6M. In this case, if a particular item in one of the stores costing $10M is damaged it will be immaterial to the company as this represents just 0.1963%. However, if the organization had revenue of $40,400 this will be material to the firm as it will represent a significant figure in their operations (Carlile, Nicolini, Langley, Tsoukas, 2013, p.434). Materiality is determined without regarding the degree of inherent uncertainty that is involved in measuring different aspects. This concept is usually applicable in two steps; Strategy This involves setting on how to carry out a detailed materiality test. Preliminary materiality is acquired and divided into portions. These portions or segments are known as audit segments. Assessment Here, the results are investigated. Total value errors are identified in each edit segment of the preliminary materiality. Comparisons are then made of the total value of error with the level of preliminary materiality. For auditors to effectively decide about the materiality of an item they will need to undertake the following; Document the initial materiality decisions. Understand and test internal controls that are unique to specific opinion units Accumulate different uncorrected misstatements Check the adequacy of the note disclosures Test the budgetary comparison. When carrying out materiality analysis or evaluation a number of factors need to be considered. Some factors that may be considered are; 1. Observation of the surrounding. The relevant economical, social, environmental surroundings have to be considered by the auditors when establishing the materiality of information or item. This will help to know how valuable the information or the item is (Kuznetsov, 2015, p.34). 2. Evaluation and ranking of information or item The company needs to obtain how valuable an item or information to be considered is to Coca-Cola Amatil Company. The rank of such information will be evaluated and will be considered valuable if it is of higher rank. 3. Presentation of issues The issues that have been obtained by Coca-Cola Amatil Company need to be presented in order of priority, with those that are more important being given more priority. This will help the Company to exactly that information that is basically important to include in their annual financial reports. Establishment of Materiality In Coca-Cola Amatil Company, materiality establishment involves phases of planning the financial audit being a very important phase of engagement. When the preliminary materiality at a lower level than necessary is determined, the risk that within the financial audit engagement to be effectuated an additional activity of audit collecting evidence is determined (Eilifsen, Messier Jr, 2013, p.234). When the materiality establishment is at a higher level than it should actually be imposed, then it implies that the risk of not identifying some significant errors is determined. The following steps are followed in determination of materiality of information or item; In the planning stages, preliminary materiality is divided into level accounts or individual transactions. This helps to determine the materiality of the account or that of an individual transaction. The division procedures of the materiality are chosen based on the professional auditors reasoning. The results are then monitored on the preliminary materiality Between the materiality, and the level of the audit risk, there is always an inverse proportion report. That is, a higher material level implies a smaller audit risk and vice-versa. The estimated value of errors can be calculated as (Carey, Potter, Tanewski, 2014, p.108); Estimated value of errors = Errors discovered in the sample x Total value of the analyzed Total Value of the Sample amount (of the audited account) However, these audit risks can be diminished. In order to achieve this, the auditors and financial statement preparers tend to; Reduce the risk of external non-detection by modification of the background control. Attenuation of evaluated risk by making an erroneous presentation. Here, some extended test controls are carried out. Relationship of the Materiality Employed in Coca-Cola Amatil Limited Annual Report for 2015 Materiality has been employed in the preparation of the Coca-Cola Amatil Limited 2015 Annual Report. Non-material items that would rather make the whole document appear difficult to prepare and bulky to analyze are omitted and only the inclusion of material items is done. The basis of the preparation of 2015 Annual Report for Coca-Cola Limited is as listed below; It has been prepared in accordance with Australian Accounting Standards and other pronouncements of the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The financial report has been prepared on the basis of historical cost except for a few financial assets and liabilities measured at a fair value. The report is outsourced and released as per the Financial Reporting Standards, as issued by International Accounting Standards Board. In context with AASB provisions on materiality, a number of aspects have been deployed in the 2015 Annual Report for Coca-Cola Amatil Limited. Some of the aspects employed include; 1. Presentation of material items. It is a provision of AASB that material items of different types be presented differently in the financial statement. The categories are based on the nature of such material items. This is employed in Coca-Cola Amatil Limited Annual Report for the year 2015. For example, in the statement, there is a section named Additional Statutory Disclosures (Pg. 68). 2. Reporting Frequency It is a provision of AASB that a financial statement is presented yearly. Actually, the financial report for Coca-Cola Amatil Limited is a report capturing 2015 financial year. This actually, means that at least a financial report is subject to provision at least once in a financial year by Coca-Cola Amatil Limited. Conclusion The study basically revolves around materiality. This is actually an important aspect of the financial institutions or organizations in making of standard financial statements. The concept is greatly deployed in the 2015 Annual Report for Coca-Cola Amatil Limited. Despite the existence of ample statistical methods that can be used to carefully in accounting for decision making, most accountants still tend to use qualitative methods that can be used in their routine practices based on their judgments on these accounting practices. They rarely attempt to make innovative processes applied to materiality. This calls for a recommendation of application of non-traditional methods by auditors, accountants and organizations to actually embrace technology and also use such ample methods as materiality. Materiality is essential when executing an approved audit plans provision and helps in making conclusions of a financial audit. References Acito, A., Burks, J. J., Johnson, W. B. (2015). The Materiality of Accounting Errors: Evidence from SEC Comment Letters and Implications for Research Proxies. Available at SSRN 2605993. Alferjani, M. (2013). A study of materiality auditing: case study from Libya (Doctoral dissertation, Deakin University). Anderson, U. L., Doxey, M. M., Geiger, M. A., Gist, W. E., Janvrin, D., Polinski, P. (2016). Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on FASB Exposure Draft of Proposed Accounting Standard Update Notes to Financial Statements (Topic 235): Assessing Whether Disclosures Are Material. Current Issues in Auditing. Bailey, E. E. (2013). GAAP and IFRS convergence: The effect on lease accounting. Barker, T. (2014). Sustainability Reporting: An Evaluation of the SASB Framework. Baldauf, J., Steller, M., Steckel, R. (2015). The Influence of Audit Risk and Materiality Guidelines on Auditors Planning Materiality Assessment. Accounting and Finance Research, 4(4), p97. Cameron, R. (2014). Applying the Materiality Concept: The Case of Abnormal Items. CORPORATE OWNERSHIP CONTROL, 428. Carey, P., Potter, B., Tanewski, G. (2014). Application of the Reporting Entity Concept in Australia. Abacus, 50(4), 460-489. Carlile, P. R., Nicolini, D., Langley, A., Tsoukas, H. (2013). and Materiality in Organization Studies. How matter matters: objects, artifacts, and materiality in organization studies, 3, 1. Chong, H. G. (2015). A review on the evolution of the definitions of materiality. International Journal of Economics and Accounting, 6(1), 15-32. Edgley, C., Jones, M. J., Atkins, J. (2015). The adoption of the materiality concept in social and environmental reporting assurance: A field study approach. The British Accounting Review, 47(1), 1-18. Edgley, C. (2014). A genealogy of accounting materiality. Critical Perspectives on Accounting, 25(3), 255-271. Eilifsen, A., Messier Jr, W. F. (2013, May). Materiality guidance of the major auditing firms. In International Symposium on Audit Research Conference. Gaynor, L. M., Kelton, A. S., Mercer, M., Yohn, T. L. (2016). Understanding the Relation between Financial Reporting Quality and Audit Quality. Auditing: A Journal of Practice and Theory. Gaylord, L. (2014). Antelopes and Hieroglyphics: The Inescapable Materiality of Information. Gualandris, J., Klassen, R. D., Vachon, S., Kalchschmidt, M. (2015). Sustainable evaluation and verification in supply chains: Aligning and leveraging accountability to stakeholders. Journal of Operations Management, 38, 1-13. Hess, D. W. (2014). The Framework for CSR Assessment, Measurement, and Reporting. In Christian Ethics and Corporate Culture (pp. 177-192). Springer International Publishing. Hsu, C. W., Lee, W. H., Chao, W. C. (2013). Materiality analysis model in sustainability reporting: a case study at Lite-On Technology Corporation. Journal of Cleaner Production, 57, 142-151. Kuznetsov, N. (2015). Materiality threshold in the software development industry: a comparative study of two organizations in Norway. Legoria, J., Melendrez, K. D., Reynolds, J. K. (2013). Qualitative audit materiality and earnings management. Review of Accounting Studies, 18(2), 414-442.

Implications Process Innovation Performance -Myassignmenthelp.Com

Question: Discuss About The Implications Process Innovation Performance? Answer: Introduction The Knowledge Management is a process which helps to use knowledge effectively in a corporate industry. The Knowledge Management Strategy is an effective way to help workforce share knowledge among them in an Organization (Beyk and Halas 2014). The Organization taken in this report is Universal Consultancy Company. The report shows that Knowledge Management Strategy is proposed by KnoMan Consulting Company. This report focuses on implementation of Knowledge Management Strategy in Universal Consultancy Company. The implementation is showed through analyzing organizational culture, such as Communities of Practice or Organizational Learning, of Universal Consultancy Company. The report also focuses on implementation roadmap of Knowledge Management Strategy. This roadmap is used to understand how the project will be rolled out across the Organization. The purpose of this report is to how the proposed Knowledge Management Strategy will be implemented and rolled out across the Organization . The outline of the report is Knowledge Management Strategy, implementation of Knowledge Management Strategy, Organizational culture and implementation roadmap of Knowledge Management Strategy. Discussion The KnoMan Consulting Company proposes Knowledge Management Strategy in Universal Consultancy Company to implement and roll out across the Organization. The below paragraphs discuss the Knowledge Management Strategy described with previous researches, organization culture and implementation roadmap. Knowledge Management Strategy The Knowledge Management Strategy in this report is described through previous study on implementation of Knowledge Management Strategy in an Organization. They are described below in the following paragraphs. The case study of Knowledge Management Strategy in Malaysian Halal Pharmaceutical Companies shows implementation of Knowledge Management Strategy for sustainable performance of the Organization (Hassan and Daud 2017). The case study shows that they needed Knowledge Management Strategy for sustainable competitive advantage and effective business performance. The Knowledge Management Strategy in this case study shows that it is required for Organization sustainability and performance. Another study on implementation of Knowledge Management Strategy in a Mexican small-medium enterprises trading Company shows improvement in Organizations performance (Perez-Soltero et al. 2015). The study shows that Knowledge Management Strategy helps in identifying, preserving and using knowledge to solve problems in less time in Mexican small-medium enterprises. The study shows the effect of Knowledge Management Strategy before and after its implementation in Mexican small-medium enterprises. The proposed Knowledge Management Strategy is useful in helping the Organization to be more objective towards the decision making (Dalkir and Beaulieu 2017). The Knowledge Management Strategy also helps to increase productivity and efficiency. The other benefits are that it prevents system failures in the Organization. The proposed Knowledge Management System for Universal Consultancy is Content Management System (Altun, Gulbahar and Madran 2015). The proposed Knowledge Management Strategies to be implemented in Universal Consultancy Company are given as follows. The Knowledge Management Strategies are Organizational Structures, Organizational Culture, Knowledge Retention, Core Competencies, External Knowledge Network and Knowledge Management Systems. The first strategy is Organizational Structures which deals with the way the physical and non-physical divisions and barriers impact the operation of Knowledge Management. The second strategy is Organizational Culture which ideals with the way an Organization deals with the values, beliefs and attitude among the workforce. The third strategy is Knowledge Retention which deals with the identification of knowledge resources that are vulnerable to risk and should be retained in the Organization. The fourth strategy is Core Competencies which deals with competitive advantages and helps to sustain in the competitive environment. The fifth strategy is External Knowledge Network which deals with identification, evaluation and establishment with external networks such as customers, suppliers and competitors (Trantopoulos et al. 2017). Implementation of Knowledge Management Strategy The implementation of Knowledge Strategy is described in this section with in terms of previous sections that describes Knowledge Management Strategy (Cheng 2014). The implementation of Knowledge Management Strategy is demonstrated in the following paragraph. The implementation of Knowledge Management Strategy has four phases. They are Knowledge Management Strategy diagnosis, Design of Knowledge Management Strategy, Realization of Knowledge Management Strategy and Rollout of Knowledge Management Strategy (Liebowitz and Frank 2016). The first phase is Knowledge Management Strategy diagnosis which helps to analyze and evaluate the specific needs and requirements of the system of the Organization. This phase is concerned with the needs of an Organization for implementing Knowledge Management System. This phase includes four dimensions of Knowledge Management Strategy that are documentation, communication, generation and utilization. These dimensions are used to realize the problems that exist in the Organization. This phase is necessary to gather all the information, include managers and employees, and to formulate desired goals and objectives. The information is necessary for defining of task force to be distributed to further implementatio n phases. The second phase is design of Knowledge Management Strategy which helps to design the previous planned goals and objectives. This phase take into account the three aspects of an Organization. They are individual aspects, organizational aspects and technical aspects. The individual aspects include employees participations and their qualifications. The individual aspect helps to gather their perspective to develop the design of Knowledge Management Strategy in the Organization (Geisler and Wickramasinghe 2015). The organizational aspect is related to acceptance of facilities by the management. The project importance is communicated to the employees after the final acceptance through the management. The technical aspects are associated with the technical tools such as software and hardware to support Knowledge Management Strategy. The technology should be selected to suit the needs of employees and should be user-friendly. The third phase is realization of Knowledge Managemen t Strategy which helps in realizing the design of Knowledge Management Strategy. This phase considers the individual, organizational and technical aspects from previous design phase to realize the Knowledge Management Strategy. The technical system is used for implementing Knowledge Management Strategy which helps to promote acceptance of participating employees. The other factor that is usability test is carried out in this phase to analyze different constraints such as learning ability, efficiency, memorability, errors and satisfaction. The usability test is conducted through questionnaire round to analyze and evaluate the suitability of Knowledge Management Strategy. The questionnaire round includes several factors such as system feedback, learning factors and other factors. The result of this phase is then delivered to the next phase where pilot phase is done and finally rollout across the Organization is done. The fifth phase is rollout of Knowledge Management Strategy across t he Organization (Donate and de Pablo 2015). The rollout of Knowledge Management Strategy helps to implement the strategy in the Organization that follows a well-elaborated interaction strategy. The interaction that is followed is taken into account before, in-between and after the rollout process across the Organization (Siadat et al. 2015). The rollout is evaluated against the input factors provided to analyze the goals and objectives are met or not. Finally, the implementation is done with summative evaluation of Knowledge Management Strategy to be continuous and suitable for Organizations business process and users. Organizational Culture (Communities of Practice or Organizational Learning) The organizational culture such as Communities of Practice or Organizational Learning is an important aspect to consider while implementation of Knowledge Management Strategy (Pattinson and Preece 2014). The community of practices will be helpful for Universal Consultancy Company to evaluate the present culture and problems of the Company. The Community of Practice for Universal Consultancy described here is to identify the areas which will help to analyze and evaluate the implementation of Knowledge Management Strategy. The below design may have advantages and disadvantages according to the need of Organization because suggestions are based on the overall description of Organization Culture. Therefore, it is recommended to analyze and evaluate the necessary points required by the Organization. The Community of Practices is designed here through suggestions to develop aspects of Organizational Culture for implementation of Knowledge Management Strategy in Universal Consultancy (Wagner III and Hollenbeck 2014). The first one is design for evolution for Universal Consultancy. The design for evolution should be designed so that evolution of issues fit between Organizational practices and information system. The second one is open a dialogue between inside and outside perspectives. This part shows that managers and technical system should coordinate to work together in an effective way for better decision making. The third one is encouraging and accepting various levels of participation. This part shows that employees should be encouraged for effective participation as they are totally dependent on Decision Support system for making decisions (Power, Sharda and Burstein 2015). The employees should be encouraged to deliver efficiency and effective productivity and they do not gi ve too much emphasis to the system. The fourth one is focus on values in Universal Consultancy. This part shows that Universal Consultancy should reduce the information overload condition generated due to decision support system. The other focus should be on delivery of quality measures through effective participation of managers and employees. The fifth one is coordination among the workforce of Universal Consultancy (Li et al. 2014). This part shows that Universal Consultancy should understand the dynamics and functions of information technology based system for betterment of the Organization. This is because difficulty in understanding of the system will be a major concern for the Organization. The sixth one is identification and planning design for system failures (Frost 2014). This part shows that Universal Consultancy should adopt measures such as risk management systems to prevent system design failures in future. The Community of Practices also contributes to sustain competitive advantage for Universal Consultancy (Kalafatis et al. 2015). Universal Consultancy Company does not include competitive advantage in its concern list. However Organizational culture such as Community of Practices will help the Company to have strong competitive advantage. The sustainability of competitive advantages of Universal Consultancy Company is achieved only when Organizational culture is established. Implementation Roadmap of Knowledge Management Strategy CALLING TO ACTION RESULT Business purchase Value Proposition KM System Direction KM STRATEGY DEVELOPMENT RESULT KM Strategy development KM framework development DESIGNING AND IMPLEMENTING KM STRATEGY CAPABILITIES RESULT Plans and Project details Budget details Implementation of KM Strategy EVOLUTION AND SUSTAINABILITY RESULT Valued and Embedded KM Program Figure 1: Implementation Roadmap of Knowledge Management Strategy (Source: Created by author) The above figure shows the roadmap for Knowledge Management Strategy Implementation which helps to guide the steps for implementing in an Organization (Villar, Alegre and Pla-Barber 2014). This implementation roadmap should be considered by Universal Consultancy for effective implementation of Knowledge Management Strategy. The implementation roadmap includes consideration of inside and outside people such as internal stakeholders and external stakeholders. The next consideration is processes such as establishment of practices and governance for efficient management of knowledge. The next consideration is technology that should be chosen for configuration and utilization to enable Knowledge Management Strategy. The other consideration is structure which directs the transformation of infrastructure to facilitate the cross-discipline awareness and technology experts. The final consideration is organizational culture to establish and cultivate knowledge sharing among the employees and m anagers. Therefore, the above figure shows complete details of how the project will be rolled out across the Universal Consultancy Company. Recommendation The implementation of Knowledge Management Strategy is discussed in this report in terms of Organization cultures suggestions for Universal Consultancy Company. Therefore, the recommendations for effective implementation of Knowledge Management Strategy and its use for future prospective are discussed below. Implementation of Risk Management System- The implementation of Risk Management System along with the implementation of Knowledge Management System provides prevention from future risks and hazards. Consideration of goals and objectives- The goals and objectives of Universal Consultancy Company should be formulated and considered to be suitable with Knowledge Management Strategy. Maintenance and updating of Technology- The information technology system for Knowledge Management Strategy should be maintained and upgraded on a regular basis for effective business function. Human-oriented factors- The human resources must be considered as the base for Knowledge Management Strategy implications are human resources which include employees and managers. Knowledge Retention of employees- The installation of knowledge bases for retention of loyal employees impact Knowledge Management Strategy. Creation of Knowledge among employees- The knowledge is created among employees through Knowledge Management Strategy to achieve the orientation of Universal Consultancy Company goals and objectives. Conclusion The, above discussions conclude that implementation of Knowledge Management Strategy in Universal Consultancy is achieved. The Knowledge Strategy is discussed for Universal Consultancy that will be implemented. The implementation of Knowledge Management Strategy is described in details with focus on issues of Universal Consultancy Company. The suggestions to develop Organizational Culture, Community of practices or Organizational Learning, to implement Knowledge Management Strategy are discussed in details. The Community of Practices shows that it will help in evaluation of problems exist in Universal Consultancy Company. The implementation roadmap of Knowledge Management Strategy shows that it should consider some factors for effective implementation. Therefore, effective implementation of Knowledge Management Strategy with consideration of problems and issues of Universal Consultancy is necessary. References Altun, A., Gulbahar, Y. and Madran, O., 2015. Use of a content management system for blended learning: Perceptions of pre-service teachers.Turkish Online Journal of Distance Education,9(4), pp.138-153. Beyk,B.andHalas,C.,2014.KnowledgeManagementStrategy. Cheng, C.C., 2014. Situated learning and professional development: A case study of applying cognitive apprenticeship and community of practices in a kindergarten.Problems in the 21st Century,59, pp.15-24. Dalkir, K. and Beaulieu, M., 2017.Knowledge management in theory and practice. MIT press. Donate, M.J. and de Pablo, J.D.S., 2015. The role of knowledge-oriented leadership in knowledge management practices and innovation.Journal of Business Research,68(2), pp.360-370. Frost, A., 2014. A synthesis of knowledge management failure factors.Recuperado el,22. Geisler, E. and Wickramasinghe, N., 2015.Principles of knowledge management: Theory, practice, and cases. Routledge. Hassan, H. and Daud, S., 2017. Fostering Corporate Sustainability Performance through Integrated Knowledge Management Strategy and Eco-Innovation in Halal Pharmaceutical Companies: A Malaysia Case. World, 7(2), pp.23-29 Kalafatis, S.E., Lemos, M.C., Lo, Y.J. and Frank, K.A., 2015. Increasing information usability for climate adaptation: The role of knowledge networks and communities of practice.Global Environmental Change,32, pp.30-39. Li, Y., Chen, H., Liu, Y. and Peng, M.W., 2014. Managerial ties, organizational learning, and opportunity capture: A social capital perspective.Asia Pacific Journal of Management,31(1), pp.271-291. Liebowitz, J. and Frank, M. eds., 2016.Knowledge management and e-learning. CRC press. Pattinson, S. and Preece, D., 2014. Communities of practice, knowledge acquisition and innovation: a case study of science-based SMEs.Journal of Knowledge Management,18(1), pp.107-120. Perez-Soltero, A., Zavala-Guerrero, A.G., Barcelo-Valenzuela, M., Sanchez-Schmitz, G. and Meroo-Cerdan, A.L., 2015. A Methodology for the Development and Implementation of Knowledge Management Strategy in a Mexican SME Trading Company. IUP Journal Of Knowledge Management, 13(2), pp.25-44. Power, D.J., Sharda, R. and Burstein, F., 2015.Decision support systems. John Wiley Sons, Ltd. Siadat, S.H., Matinvafa, A., Saeednia, A. and Moghadasi, F., 2015. Effective Factors on Successful Implementation of Knowledge Management in Higher Education.Management and Administrative Sciences Review,4(1), pp.166-181. Trantopoulos, K., von Krogh, G., Wallin, M.W. and Woerter, M., 2017. External knowledge and information technology: Implications for process innovation performance.MIS quarterly,41(1), pp.287-300. Villar, C., Alegre, J. and Pla-Barber, J., 2014. Exploring the role of knowledge management practices on exports: A dynamic capabilities view.International Business Review,23(1), pp.38-44. Wagner III, J.A. and Hollenbeck, J.R., 2014.Organizational behavior: Securing competitive advantage. Routledge