General Banking Perspectives: Dhaka Bank Ltd

1. Introduction Commercial Bank implies that banks devote most of their resources to meeting the financial needs of business firms. This institution offers the public both deposit and credit services as well as a growing list of newer and more innovating services, such as investment advice, security underwriting, and financial planning. In recent years financial institutions have diversified themselves to satisfy consumers and units of government around the world.The result is the emergence of a financial institution that has been called a financial department store because it satisfies the broadest range of financial services needs in the global economy. The importance to commercial banks may be measured in a number of ways. Banks are still the principal means of making payments, through the checking accounts, credit cards, and electronic funds transfer services they offer. Banks are important because of their ability to create money from excess reserves made available from the publ ic's deposits.The banking system can take a given volume of excess cash reserves and, by making loans and investment, generate a multiple amount of credit. Bangladesh is developing country. After liberalization, we achieve a poor economic growth in last three decades. This is because of number of micro and macro factors as density of people. Bangladesh is a place where we see lack of proper education and poor political stability. Political instability is the major factor in Bangladesh that makes a vital hazard to achieve the economic growth.All of above, banking industry brings a little bit hope that can be a better flavor to accelerate the economic growth in our country. This is the only sector (especially private banking) that getting a continuous develops from last two decades. One of the aims of this study involves the focus on ‘The General Banking Practice of Dhaka Bank Ltd, Halishahar Branch’. Another aim of this paper is to point out how management of the bank ca n perform better and provide better service to the clients. 2. Methodology Different data and information are required to meet the goal of this report.Those data and information were collected from various sources, such as, primary and secondary which is showed below: Primary data were collected from: ? Face to face conversations with the employees at various fields. ? Personal interviewing and interacting customers. ? Observing various organizational procedures. ? Customer’s response from questions. Secondary data were collected from: ? Internet and Annual report of Dhaka Bank Limited. ? Progress report/ Statement affairs and Bank Rate sheet of the Bank. ? Several kinds of Academic test-book and training sheet. Different publications regarding banking functions and foreign-exchange operation. ? Prior research report on this Bank. 3. Scope The scope of the research covers the General Banking practices of Dhaka Bank Limited. The report focuses on the general banking practices in general, how it is implemented in Dhaka Bank Limited. 4. Limitation of the study The present study was not out of limitations. From the beginning to end, the study has been completed sincerely and carefully. But some problem arises from conducting the study.During the study it was not possible to visit the whole area covered by the banks although the financial statements and other information regarding the study have been covered. Some limitation are given stated below- 1. The main constraint of the study is insufficiency of information, which was required for the study. There are various information that the bank employee can't provide due to security and other corporate obligations. 2. Due to time limitations many of the aspects could not be discussed in the present report. 3.Every organization has their own secrecy that is not revealed to others. While collecting data through interviewing the employees, they did not disclose much information for the sake of the confidentiality of the organization. 5. Background of Dhaka Bank: Dhaka Bank Limited is one of the premier and top ranked private banks in Bangladesh. The bank was established in the year 1995 as some veteran and well established businessmen grouped together and worked sincerely to establish this bank. The bank was incorporated as a public limited company under the companies act 1994.The founder of the bank was Mr. Mirza Abbas Uddin Ahmed who was also the former advisor of the bank. The Head Office of the bank is located at Biman Bhaban 1st floor, 100 Motijheel C/A, Dhaka 1000, Bangladesh. The bank started its very first journey on July 5th 1995 with an authorized capital of Tk. 1000 million and a paid up capital of Tk. 100 million. Since the inception of the bank the bank made phenomenal growth in terms of operation, business and goodwill. As of March 31st 2010 the bank’s paid up capital stood at Tk. ,659,597,800 and the total equity (capital and reserves) stood up at Tk. 6,036,368,754. Th e bank currently has 62 fully operational branches all over the country, 3 SME Service Centers, 6 CMS Units, 2 Offshore Units, and one CPZ (central processing office) which is situated in BGMEA building Karwan Bazar , Dhaka Bangladesh As an integral part of their commitment to Excellence in Banking, Dhaka Bank now offers the full range of real-time online banking service through its all branches, ATMs and Internet Banking Channels.Dhaka Bank Ltd is the preferred choice in banking for friendly and personalized services, cutting edge technology, tailored solutions for business need, global reach in trade and commerce and high yield on investments. 5. 1. The Mission of Dhaka Bank Limited- To be the premier financial institution in the country providing high quality products and services backed by latest technology and a highly motivated team of personnel to deliver Excellence In Banking. 5. 2. The Vision of Dhaka Bank Limited- At Dhaka Bank, we draw our inspiration from the distant sta rs.Our team is committed to assure a standard that makes every banking transaction a pleasurable experience. Our endeavour is to offer you razor sharp sparkle through accuracy , reliability , timely delivery , cutting edge technology and tailored solution for business needs, global reach in trade and commerce and high yield on your investment . 5. 3 The Goal of Dhaka Bank Limited- Our people, products and processes are aligned to meet the demand of our discerning customers. Our goal is to achieve a distinction like the luminaries in the sky.Our Dhaka Objective is to deliver a quality that demonstrates a true reflection of our vision – Excellence in Banking. 6 General Banking General banking creates a vital link between customers and bank. It’s really a classic as crucial department for the bank. It is the introductory department of the bank to its customers. The Dhaka Bank Ltd, Halishahar branch has all the required sections of general banking. Every day it receives de posits from customers and meets their demands for cash by honoring instruments. General banking department is that department which is mostly exposed to the maximum number of bank customer. . 1 Different Departments of General Banking It has five major parts in the branch to perform. The sections are: i. Account opening section ii. Cheque clearing iii. Cash iv. Remittance v. Accounts section 6. 2 Different Types of Customers/ Account Holder: Any one can open an account in Dhaka Bank Ltd. if he is capable of entering a valid contract and a banker is satisfied his confide and willing to inter into the necessary business relation with him. So any one of the following types of customers can open account:- i. Individual ( personal ) ii. Joint iii. Proprietorship ( sole traders / registered or unregistered ) v. Joint stock companies ( private/ public ltd. companies) 6. 3 Account Opening and Dispatch Department: Account opening is the gateway to the bank. The relationship between a banker and its customer begins with the opening of an account by the customer. For this, account opening is considered the most important function of a commercial bank. All banks generally maintain a separate department to open accounts. The function of accounts opening department can be classified into the following three categories: 1. Supplying various accounts related information to the customers. 2. Opening of account and . Issuing cheque books and ATM Card. Supplying various accounts related information to the customers: When a customer comes to open an account with a bank, s/he needs to be informed about various information relating to account opening. Account opening department enthusiastically provides necessary information to the customer. Following information is supplied to the customer depending on their requirements: †¢ Type of accounts maintained by the bank †¢ Requirements/Necessary formalities for opening each type of accounts †¢ Eligibility to open an accou nt etc. Types of accounts maintained by DBLAccounts based on operations as under: †¢ Current Account (CD A/C) †¢ Short Term Deposit Account (STD A/C) †¢ Savings Bank Account (SB A/C) †¢ Fixed Deposit Receipt Account (FDR A/C) Accounts based on Nature of Customers as under: †¢ Single/Individual Account †¢ Joint individual Account †¢ Sole Trader/ Proprietorship Account †¢ Partnership Account †¢ Company Account etc. Savings accounts are opened for single/individual and joint individual customer. Business organizations/enterprises are not allowed to open savings account. 6. 4 Requirements/Necessary formalities for opening each type of accounts: ? Single/Individual Savings Bank Accounts: Introduction of customer (Must be either by an account holder (SB/CD A/C) or an employee of the bank. †¢ Photographs-Two copies (attested by the Introducer) †¢ Photocopy of valid passport/Citizenship Certificate from Chairman or Ward commissioner/Cer tificate from the employee of the bank. Add: †¢ Transaction Profile †¢ Signature on Money laundering Circular ? Joint Individual Account: No additional requirements/formalities other than the Single/Individual Savings Bank Accounts. ? Single Individual/Joint Individual CD A/C Requirements/Formalities as like as SB A/C, except here introducer must be a CD A/C holder of the bank. Proprietorship CD A/C †¢ Introduction of the customer (Must be by a CD A/C account holder or an employee of the bank. †¢ Photographs- (Two Copies) of the proprietor. †¢ Valid Trade License. †¢ Company Seal. †¢ Photocopy of valid passport of the proprietor/Citizenship/ Certificate from Chairman or Ward commissioner/Certificate from the employee of the bank. Add: †¢ Transaction Profile †¢ Signature on Money laundering Circular †¢ Signature on KYC form ? Partnership CD A/C †¢ Introduction of the partners (Must be by a CD A/C account holder or an employee of the bank. Photographs- (Two Copies) of every partner. †¢ Valid Trade License. †¢ Seal. †¢ Date of incorporation. †¢ Photocopy of valid passport of the proprietor/Citizenship Certificate or Identity Certificate from Chairman or Ward commissioner/Certificate from the employee of the bank. †¢ Partnership Letter. Add: †¢ Transaction Profile †¢ Each partner’s Signature on Money laundering Circular †¢ Each partner’s Signature on KYC form ? Limited Company A/C †¢ Introduction (Must be by a CD A/C account holder or an employee of the bank †¢ Photographs- (Two Copies) †¢ Valid Trade License Company Seal †¢ Resolution of the Company on company’s letterhead †¢ Certified and attested copy (attested by MD or Chairman) of Memorandum of Association and Articles of Association †¢ Certified and attested copy of Certificate of incorporation †¢ List of Directors †¢ Photocopy of valid passport/Citizensh ip Certificate or Identity Certificate from Chairman or Ward commissioner/Certificate from the employee of the bank. Add: †¢ Annexure E: Identification of Directors and Authorized Signatories †¢ Annexure D: Director’s Signature on KYC form †¢ Transaction Profile 6. Eligibility to open an account: Anyone capable of entering into a valid contract can open an account with the bank. A minor can also open an account under guardianship or alone if s/he is at least 12 years old. But a minor is not allowed to open a current account. Lunatic, Insolvent person/Drunker/Liquidator/Any other individual or organization by law cannot open an account with bank. 6. 6 Accounts Opening of Customers with the Bank Opening of an account involves certain formalities, which varies according to different types of accounts as well as various categories of customers.The bank supplies following printed forms during opening an account of a customer: o Account opening Form o Specimen Signat ure Card o Deposit Slip o Cheque Book Requisition Slip o KYC Profile Form o Transaction Profile Form Customers are requested to read all the instructions carefully and then fill up the forms properly. Account opening officer must have to check all the forms or documents i. e. whether the customer duly signs them where necessary as well as introducer must introduce the customer by putting signature in the space provided on the account opening form.After completion of all the formalities by the customer, Dhaka bank officials have to perform the following functions chronologically: |Scrutinizing account opening form and Specimen signature card | |Getting the approval of accounts by authorized officer | |Putting account number on the form | |Putting entry in the account opening register | |Posting all the account information in the computer | Issuing a cheque book | |Maintaining all relevant papers/documents in separate file in the name of the | |every account holder | |Sending the sp ecimen signature card to the cash department | |Sending a thanks giving letter to the New account opener’s address | |Maintaining all relevant papers/documents in separate file in the name of the every | |account holder | 6. 7 Issuing of a Cheque BookA cheque book is issued to the customer at the time of the account opening or may by issued after 2-3 days from account opening. And additional cheque book is issued at the request of the customer according to his/her necessity. Followings are the formalities during issuing a cheque book: Getting the cheque book requisition slip signed by the account holder By verifying the signature, issuing the cheque book Writing down the account number on each leaf of the cheque book Making entry to the cheque issue register Supplying the cheque book to the account holder after getting proper acknowledgement from the account holderInland Remittance Department Remittance Department: This department deals with transfer of money from one place to another place. Remittance can be classified as inland remittance and foreign remittance; however, remittance department mainly deals with inland remittance rather than foreign remittance. Instruments used for inland remittance as under: o Pay Order (P. O) o Demand Draft (DD) o Telegraphic Transfer (TT) Pay Order: A Pay Order is a written order on a specific instrument i. e. generally called â€Å"Block† issued by a bank to pay a certain sum of money to specific person, Organization or a bank.It is called banker’s cheque, as it is issued by a bank as well as drawn upon on a bank. Issuance of Pay Order: issuance of pay order involves following steps: ? Upon requests of customer, bank supplies prescribed application form ? Applicant has to provide detailed particulars of him/herself as well as beneficiary or receiver of the Pay Order ? Total amount of the P. O must be written both in words and in figures in the space provided ? Credit vouchers are prepared; one for com mission and another for VAT ? Now customer is requested to deposit the P.O amount along with VAT and Commission charges to the cash department ? Cash department releases the application form with authorized signature and cash received seal ? Now Pay Order is written on block which has three parts: First part is retained by the issuing bank, Second part is for customer and Third part is for the beneficiary of the Pay Order ? In this stage all the information is entered into the P. O register Payment or Encashment of Pay Order: Issuing bank makes payment of Pay Order upon presentation through clearing house. When the P.O does not consist of discrepancies, necessarily the proceeds of Pay Order is credited to the account of payee/beneficiary. However, before making payment of P. O, the signature of issuing officer is verified and date of payment is recorded in the Pay Order issue register. Demand Draft A Demand Draft, which is traditionally called DD. A DD is a written order on a specif ic instrument of one branch of a bank upon another branch of the same bank to pay a certain sum of money to or to the order of a specified person or of a specified organization. In practice DD is not issued between two branches within the same city.Issuance of Demand Draft: Issuance of DD involves following steps: ? Customer is asked to fill up a form in specific form provided by bank which is also treated as a voucher ? Commission and Charges are also mentioned in the form ? Two credit vouchers; one for commission and another for VAT is stapled with the form ? Customer pays cash in the cash department with relevant vouchers ? Cash dept. receives cash and delivers vouchers after completing necessary formalities ? Now DD is prepared in a block Branch-wise serial number is given on the draft ? The draft number is written on the voucher ? Draft block and voucher along with the register are sent to the officer in charge for checking and then sent to manager/Second in charge of the branc h for authorization ? The draft may be crossed if customer desires and finally delivered to him/her against initial or acknowledgement on the voucher Payment of Demand Draft: After receiving the DD, the drawer branch checks the date, amount both in words and figures and signature. In case of Test DD, Test number must be reconciled before payment.And then DD is cancelled and payment date is noted in the register. If the DD is crossed, the payment is made through clearing house. Telegraphic Transfer In case of Telegraphic Transfer, which in brief is called TT, an applicant has to fill up prescribed form supplied by bank to inform all the particulars about the sender as well as the receiver/beneficiary of the TT. Besides, following points should be checked in this regard: ? Full name of the beneficiary and his account number if the instruction here is â€Å"credit to beneficiary’s account†, or full address if instruction is there to advise & pay ?Commission and Telegram c harge are recovered from customer ? A cost memo has to prepare for customer in this regard; containing the amount of TT, commission and Telegram charges ? Customer has to deposit cash in the cash department along with voucher and application ? Remittance depart finally checks all the particulars viz. name of the beneficiary, account number of the beneficiary, name of the bank, name of the branch and mode of payment etc. ? Each and every TT must be Tested whatever the amount of TT ?Authorized officer then send the TT message through Telex/Telephone ? The issuing branch also sends a TT confirmation advice to the drawer branch and one copy is retained by the branch Payment of Telegraphic Transfer (TT): The payment of TT is paid only when TT test numbers reconcile. TT receiving branch maintains TT message receiving memo. On agreement of Test, the serial number of TT is entered in the TT payable register. The issuing branch informs if any number is mismatched or omitted. Two vouchers are prepared in this regard as under:DBL General A/C†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦****** Branch———-Dr. Bills Payable A/C†¦Ã¢â‚¬ ¦.. (TT payable)————-Cr. The TT amount is then credited to the beneficiary’s account if the beneficiary/receiver of the TT is an account holder of the branch; otherwise a Pay Order is issued if the beneficiary/receiver of TT is an account holder of another bank. 6. 8 Clearing Section: According to the Article 37(2) of Bangladesh Bank Order, 1972, the banks, which are the member of the clearinghouse, are called as Scheduled Banks. The scheduled banks clear the cheque drawn upon one another through the clearinghouse.This is an arrangement by the central bank where everyday the representative of the member banks gathers to clear the cheque. Banks for credit of the proceeds to the customers’ accounts accept Cheque and other similar instruments. The bank receives many such instruments during the day from ac count holders. Many of these instruments are drawn payable at other banks. If they were to be presented at the drawer banks to collect the proceeds, it would be necessary to employ many messengers for the purpose. Similarly, there would be many cheque drawn on this the messengers of other banks would present bank and them at the counter.The whole process of collection and payment would involve considerable labor, delay, risk and expenditure. All the labor, Risk, delay and expenditure are substantially reduced, by the representatives of all the banks meeting at a specified time, for exchanging the instruments and arriving at the net position regarding receipt or payment. The place where the banks meet and settle their dues is called the Clearinghouse. Activities of the Section: (a) Preparation of Clearing Outward and Inward Lodgment and record maintenance of the same. (b) Batch posting as and when required. On receipt of instruments, the same is endorsed here.Then clearing section wi ll sent IBDA to head Office for clearing purpose and on receipt of IBCA from Head Office amount is credited to customers account and vice versa. If the instrument is return then the same is given back to the customer. 6. 9 Collection Section: Checks, drafts etc. are drown on bank located outside clearing house are sent for collection. Motijheel Branch collects its client’s above-mentioned instruments from other branches of DBL and branches other than DBL. In case of out ward bills for collection customers account is credited after finishing the collection processor.And in case of in ward bills customers account is debited for this purpose. So it places dual role as follows: i) Collecting Banker ii) Paying Banker. Activities of the Section: Collection is done when (i) Paying Bank is located out side Dhaka City. (ii) Paying Bank is other branches of DBL situated inside Dhaka City. i) Paying Bank is outside Dhaka City: Collection department of Motijheel Branch (Principal Branch) , DBL sends outward bills for collection (OBC) to the concerned paying bank to get inter Bank Credit Advice (IBCA) from paying Bank.If the paying bank dishonors the instrument, the same is returned to principal Branch. ii) The Paying Bank of their own branches inside Dhaka City: Collection Department sends transfer delivery item to other branches of same bank situated inside Dhaka City. Upon receiving IBCA customer’s a/c is credited. Procedures for Outward Bills for Collection: 6. 10 Accounts Section: In banking business transactions are done every day and these transactions are to be recorded properly and systematically as the banks deal with the depositors’ money.Any deviation in proper recording may hamper public confidence and the bank has to suffer a lot. Improper recording of transactions will lead to the mismatch in the debit side and credit side. To avoid these mishaps, the bank provides a separate department whose function is to check the mistakes in passing v ouchers or wrong entries or fraud or forgery. This department is called Accounts Department. Besides these, the branch has to prepare some internal statements as well as some statutory statements, which are to be submitted to the Central Bank and the Head Office.This department prepares all these statements. Functions of Accounting Department: We can divide the functions of accounting department into two categories. One is day-to-day task and another is periodical task. a. Day to day functions: Here day-to-day function refers to the every day tasks. Accounting department of DBL performs the following day to day functions: b. Periodical functions: Periodical functions of accounts department include the preparation of different weekly, fortnightly, monthly, quarterly and annual statement.The accounts department prepares the following statements: etc. 6. 11 Cash Section: Cash section is a very sensitive organ of the branch and handle with extra care. Operation of this section begins at the start of the banking hour. Cash officer begins his/her transaction with taking money from the vault, known as the opening cash balance. Vault is kept in a much secured room. Keys to the room are kept under control of cash officer and branch in charge. The amount of opening cash balance is entered into a register.After whole days’ transaction, the surplus money remain in the cash counter is put back in the vault and known as the closing balance. Money is received and paid in this section. 6. 11. 1 Cash Receipt: 6. 11. 2. Cash Payment: 6. 12 Conclusion: Bank is the largest organization of mobilizing surplus domestic savings. Attractive Savings Schemes are offered by DBL such as Contributory Savings Scheme, Monthly Benefit Deposit Scheme, Special Deposit Scheme, Education Savings Scheme, Fixed Deposit Scheme, Dhaka Bank Money Scheme, Dhaka Bank Insured Fixed Deposit Scheme as well as different accounts to save money.Schemes are designed concentrating in different purposes t o help the fixed income group people to help in need. Bank-Officials are also whole-hearted and dedicated to serve their customer with utmost care. 7. Online Branch Banking The Bank has set up a Wide Area Network (WAN) across the country to provide online branch banking facility to its valued clients. Under the Scheme,  clients of any branch shall be able to do banking transaction at other branches of the bank. Under this system a client will to be able to o following type of transactions # Cash withdrawal from his/her account at  any  branch  of the Bank irrespective of location. # Cash deposit in his/her account at any branch of the Bank irrespective of location. # Cash deposit in other's account at any branch of the Bank irrespective of location. # Transfer of money from his/her account with any branch of the Bank. Any amount can be deposited or transferred under Dhaka Line.In the system, however, at present there is a limit for cash withdrawal through bearer or by accou nt holder himself. Terms & Conditions of Online Branch Banking Service ONLINE BRANCH BANKING SERVICE is designed to serve its valued clients. Under this system, you shall be able to do the following type of transactions:    †¢ Cash withdrawal from your account at any   branch of the Bank †¢ Deposit in your account at any Branch of the Bank. †¢ Transfer of money from your account to any other account with any Branch of the Bank Transaction Limit Maximum ceiling of cash withdrawal by self is Tk. 10,00,000/- (ten lac) only per transaction †¢ Maximum ceiling of cash withdrawal by third party (bearer) per transaction is below Tk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Only (please mention the limit you wand to place). †¢ Cash deposit/transfer  by online transaction is unlimited Online Transaction Membership Fee Membership fee is  Tk. 50/- per month for the Online Branch Banking Service. Charges for Online Transaction †¢ There will be no charge for transac tion within the city where the account is domiciled †¢ Fee Tk. 7/- will be realized from the customer’s account for each remote transaction (inter-city)  for amount up to Tk. 1, 00,000 (one lac). †¢ Fee at the rate of   0. 075% will be realized from the customer’s account for each remote transaction of amount more than Tk. 1,00,000 (one lac). Who can get this service The Clients who has account in Dhaka bank or who will open account in Dhaka bank and would be interested to maintain substantial deposits in Savings, Current or STD accounts, will be eligible to get Dhaka Line Service.How one can get this service Intending and eligible clients have to apply in prescribed application form to their branch (where account is maintained) to get the online service from the bank. The client should submit two copies photographs and signature cards alongwith the application form. To avail the Dhaka Line service, no charge should be paid for online transaction within a locality where the account is domiciled. But charges should be paid by the customer for inter city online transaction When a account will be activated for onlineWithin 15 days from the date of submission application a account will be activated for online service Dhaka Bank Limited obtained Principal Membership of Master-Card International in the month of May 1999. Within a period of 6 months, the bank successfully launched Master Card-Credit Card which created a new dimension in its customer service and consumer financing. The Special feature of the Dhaka Bank Master Card is that its bears the card holder’s photo on the card, which is the first of its kind in Bangladesh and adds security against misuse.Dhaka Bank Limited issues 4 types of cards. These are Gold Local & International and Silver Local & International. Local cards can be used in Bangladesh only. 7. 1 Followings are the main feature of MasterCard Credit – †¢ Dhaka Bank Ensure High Level of Security  by inserting your Photograph on the Card. †¢ 20 to 50 days credit form the date of transaction. When you receive your monthly statement, you can either choose to pay in full or just minimum due amount shown on the statement. No interest is charged if you pay in full within payment due date. 24 hours a day, 365 days worldwide service. †¢ No joining/administrative fees. †¢ waiver of annual fees for International Card: If you accumulate 20,000 Dhaka Bank Bonus Point for your Gold Card or, 10,000 Bonus Point for your Silver Card in a year then you enjoy our Card without fees( $ 1 purchase: 1 Bonus). †¢ Waiver of annual fee for Local Card:   If you accumulate 10,000 Dhaka Bank Bonus Point for your Gold Card or 8,000 Bonus Point for your Silver Card in a year then you enjoy our Card without fees( Tk. 50/- purchase : 1 Bonus point). The Highest Dhaka Bank Bonus Point holder can enjoy free air ticket Dhaka-Bangkok-Dhaka. (Business Class). †¢ Cash advance faciliti es. †¢ 1,39,00,000 locations accept MasterCard worldwide Facilities Available with the Card : The Card can be used for: 01. Making payments to Merchants against purchase of all goods and services by the Cardholder form Marchant(s); and 02. Availing Cash Advances: ? 2. 1 From any of DBL Branches or any member of MasterCard of any Merchant authorized to make Cash Advances; as may be agreed upon by DBL or ?By the use of the Card on any ATM of DBL or of MasterCard. Subject to these terms and conditions and in compliance with such requirements, limitations and procedures as may be imposed by DBL, any Merchant or MasterCard from time to time. 7. 2 SWIFT Dhaka Bank Limited is one of the first few Bangladeshi Banks who have become member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 1999. SWIFT is members owned co-operative, which provides a fast and accurate communication network for financial transactions such as Letters of Credit, Fund transfer etc.By be coming a member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world. SWIFT No. : PRBLBDDH Deposit Schemes of Dhaka Bank Limited: Bank is the largest mobilizer of surplus domestic savings. For poverty alleviation, we need self employment, for self-employment we need investment and for investment we need savings. In the other words, savings help capital formations and the capital formations help investments in the country.The investment in its turn helps industrialization leading towards creation of wealth of the country. And the wealth finally takes the country on road to progress and prosperity. As such, savings is considered the very basis of prosperity of the country. The more the growth of savings, the more will be the prosperity of the nation. The  savings rate in Bangladesh is one of the lowest in the world. In order to improve the savings rate, Financial Institutions responsible for mobilization of savings should offer attractive Savings Schemes so that the marginal propensity to save increases.The savings do not, of course, depend only on the quantum of income but largely depend on the habit of savings of the people. Contributory Savings Scheme: This is a Savings Scheme in which a person gets the opportunity to build up savings by contributing monthly installments and receives an attractive fixed amount at the end of a specified term. The Scheme is designed to help the fixed income group to save money and build up a sizable funds with which they can go for some income generating venture to improve the quality of their life and/or meet any future financial obligationsThe salient features of the Scheme are given below: > Minimum size of monthly installment shall be Tk. 500/- and multiplies of Tk. 1000/-. Maximum installment size shall be Tk. 25,000/- > The Deposit shall be for a period of 5 years. Lump sum amount shall be paid after maturity or monthly Pension shall be paid for the next 5 years according to the size of deposit. A brief chart of lump sum amount and monthly pension installments payable are shown below: Size of monthly deposit (Taka) |Terminal value after 5 years (Taka) |Pension for next 5 years (Taka) | |500/- |40,000/- |870/- | |1,000/- |80,000/- |1,739/- | |2,000/- |1,60,000/- |3,478/- | |3,000/- |2,40,000/- |5,217/- | |4,000/- |3,20,000/- |6,956/- | |5,000/- |4,00,000/- |8,695/- | |6,000/- |4,80,000/- |10,434/- | |7,000/- |5,60,000/- |12,173/- | |8,000/- |6,40,000/- |13,912/- | |9,000/- |7,20,000/- |15,651/- | |10,000/- |8,00,000/- |17,390/- | |11,000/- |8,80,000/- |19,129/- | |12,000/- |9,60,000/- |20,868/- | |13,000/- |10,40,000/- |22,607/- | |14,000/- |11,20,000/- |24,346/- | |15,000/- |12,00,000/- |26,085/- | |16,000/- |12,80,000/- |27,824/- | |17,000/- 13,60,000/- |29,563/- | |18,000/- |14,40,000/- |31,302/- | |19,000/- |15,20,000/- |33,041/- | |20,000/- |16,00,000/- |34,780/- | |21,000/- |16,80,000/- |36,519/- | |2 2,000/- |17,60,000/- |38,258/- | |23,000/- |18,40,000/- |39,997/- | |24,000/- |19,20,000/- |41,736/- | |25,000/- |20,00,000/- |43,475/- |Short Term Deposit ? A short term deposit (STD) account is a running account with amounts being paid into and drawn out of the account continuously. ? These accounts are called Demand Deposits or Demand Liabilities since the banker is under obligation to pay the money in such deposits on demand. ? These accounts are generally opened by Business Organization, Public Institution, and Corporate Bodies. ? An STD account may be opened by an individual person. ? It is an interest bearing deposit. Interest is calculated on daily basis as per Banks Prescribed Rate and is credited to account on half yearly basis. Current interest rate on STD account  is 6 Percent.Education Savings Scheme The educational expenses particularly the expenses for higher education are sharply increasing day by day in our country. Sometimes, the children are deprived of getting the desired level of education because of the inability of the parents to meet their educational expenses. But the parents would not feel any difficulty to defray such expenses if a proper financial planning is made much ahead of time. Moreover, we are receiving demands from the Islamic minded people of our country for an attractive Savings Scheme on the basis of Islamic Sariah so as to encourage them to save in Islamic way for education of their children.With this end in view, Dhaka Bank Limited has introduced a Savings Scheme entitled â€Å"Education Savings Scheme† in accordance with the principles of Islamic Sariah i. e. , on the basis of profit and loss sharing. The scheme provides a unique opportunity to the parents to make a future provision for the educational expenses of their children when they enter into Schools, Colleges and Universities out of the benefit of a small amount of savings with the Bank at an opportune moment The salient features of the Scheme are give n below: ? The Scheme shall be implemented through all Dhaka branches, though it is specially designed for Islamic Banking branches. ? Deposit of Tk. 50,000/- and multiples thereof but maximum limit of Tk. , 00,000/- at a time will be acceptable under the Scheme. ? A specially designed Receipt shall be issued for the deposit under the Scheme in the same manner as issued in case of FDR. Branches shall use the ESS receipts that used for existing scheme. ? The instrument shall be issued for a period of 5 years term. ? On maturity a lump sum amount of Tk. 85,382/- shall be payable or education allowance @ Tk. 1,854/- per month per Tk. 50,000/- shall be payable on the basis of deposit amount for next 5 years starting from the completion of the term as per following table. Income Tax @10% on interest may be deducted at source at the time of payment of lump sum amount. Initial Deposit (Taka)    |Lump sum amount payable at maturity (Taka)    |Amount of Education allowance per month | | | |  (Taka) | |50,000/- |85,382/- |1,854/- | |1,00,000/- |1,70,763/- |3,705/- | |1,50,000/- |2,56,145/- |5,558/- | |2,00,000/- 3,41,526/- |7,410/- | |2,50,000/- |4,26,908/- |9,263/- | |3,00,000/- |4,69,704/- |11,115/- | |3,50,000/- |5,47,988/- |12,968/- | |4,00,000/- |6,26,272/- |14,820/- | |4,50,000/- |7,04,556/- |16,673/- | |5,00,000/- |7,82,840/- |18,525/- | Double Benefit Deposit Scheme ? The Scheme shall be implemented through all the branches of Dhaka Bank Limited. ? Deposit of Tk. 25,000/- (Taka twenty five thousand) and multiplies thereof but maximum limit of Tk. 25, 00,000/- (Taka twenty five lac) at a time will be acceptable under the scheme. ? The instrument shall be issued for 5 years 4 months term. ? At maturity after 5 years 4 months double the amount of deposit will be paid to the depositor. Photograph of Nominee, duly attested by the depositor, shall be obtained at the time of opening the account. ? Normally no withdrawal will be allowed before maturity. But if any depositor intends to withdraw his deposit before maturity, the following rules will apply: ? (a) No benefit including interest/profit shall be allowed for pre-mature encashment within one year. (b) If the accounts / deposits are closed / encashed after one year of its opening, benefit shall be allowed on the deposit at normal Savings Deposit rate ? The instrument will be acceptable as collateral security against any investment subject to registering lien with the issuing branch. In case of death of a depositor, the amount of instrument will be paid to the nominee, to the legal heirs of the depositor on production of succession certificate. ? In case of instrument is lost the procedure for the issuance of a duplicate receipt will be the same as applicable in case of loss of FDR. ? Under the scheme depositor can get free insurance facility. ? Insurance coverage is only applicable to personal accident and serious illness related insurance policy. ? Depositor can take loan against his/ her deposit under this scheme ? At present no income tax will be deducted from the interest earned. But in future for any change in the government policy Bank reserves the right to deduct income tax.Fixed Deposit Scheme This type of deposit should be kept for a fixed term or period. Dhaka Bank Limited deals with the following terms deposit. Particulars Interest Rate 1(One) month 9. 00% 3(Three) month 12. 00% 6(Six) month 11. 50% 1(One) year 11. 00% Lakhopati Deposit Scheme (a)Monthly Installment size, tenure and terminal value of the scheme will be as follows: Monthly Installment Size (Taka) |Tenure |Amount to be paid after maturity (Taka) | |250/- |15 years |1,00,000/- | |500/- |10 years |1,00,000/- | |1,285/- |5 years |1,00,000/- | |2,400/- |3 years |1,00,000/- | Dhaka Millionaire   Scheme Monthly installment shall be Tk. 12,465. 00 /Tk. 7,890. 00 /Tk. 4,570. 0 for the tenor of 5/7/10 years respectively |Size of monthly deposit   (in |Investment Tenor (in |After the investm ent Tenor the terminal |Pension size of installment | |Taka)   |Year) |value of the Scheme (in Taka) |according to the years Invested | | | | |(in Taka ) | |12,465/- |5 |1,000,000/- |21,748/- | |7,890/- |7 |1,000,000/- |17,137/- | |4,570/- |10 |1,000,000/- |13,786/- | House Building Deposit   Scheme # The tenor of the House Building Deposit Scheme will be 5/7/10 years. # Minimum Equity building amount shall be Tk. 10. 00 lac. |Size of monthly |Size of monthly deposit in|Investment Tenor (in|Age Limit |After the   investment Tenor | |deposit in Tk. |Tk. Year) |(in Year)* |the terminal value of the | |(without |(with Insurance) | | |Scheme | |Insurance) | | | |(in Taka)** | |7,890/- |8,045/- |7 |18 to 38 |1,000,000/- | |12,465/- |12,640/- |5 |18 to 40 |1,000,000/- | |9,135/- |N/A |10 |18 to 35 |2,000,000/- | |15,770/- |N/A |7 |18 to 38 |2,000,000/- | |24,925/- |N/A |5 |18 to 40 |2,000,000/- | * Age upper limit will be applicable for HBL facilities only # Insurance Coverage will be restricted to terminal amount of Tk. ,000,000/-(Taka Ten Lac) only, here the age limit will be from 18 years to 60 years # A person can open more than one account but House Building Loan facility shall be on one account only. # Account in the name of minors can be opened too under the Scheme but without insurance coverage. # The installment shall be payable by the 8th day (in case of holiday the next working day) of every month. Advance payment of any number of installments  is acceptable. 8. CAMEL Rating of 48 Banks: The capital adequacy, Asset quality, Management standard, Earning and Liquidity rating (CAMEL) of all commercial banks on the basis of credit management performance till December 2007 have been rated by Bangladesh Bank (BB). It is mentionable that Dhaka Bank Ltd. got the top position in â€Å"A† class banks. CAMEL Rating:Analyzing the overall operational activities of all commercial and specialized banks; central bank, the regulatory authority of countryâ €™s banking sector has ranked 6 ‘A-class’, 27 ‘B-class’, 8 ‘C-class’,5 ‘D-class’ and 2 ‘E-class’ banks by the end of 2007, which was completed recently. A- Class Banks: 1. Dhaka Bank Ltd. 2. Shahjalal Islami Bank Ltd. 3. Commercial Bank of Ceylon. 4. Citibank N. A. 5. State Bank of India 6. Standard chartered Bank B – Class Banks: 1. Eastern Bank Ltd. 2. Premier Bank Ltd. 3. The Trust Bank Ltd. 4. BRAC Bank Ltd. 5. Southeast Bank Ltd. 6. NCC Bank Ltd. 7. One Bank Ltd. 8. Standard Bank Ltd. 9. Woori Bank 10. Bank Alfalah Ltd. 11. National Bank of Pakistan. 12. Dutch Bangla Bank Ltd. 13. Exim Bank Ltd. 14. Mutual Trust Bank Ltd. 15. Jamuna Bank Ltd. 16. Bank Asia 17. Islami Bank Bangladesh Ltd. 18. Uttara Bank Ltd. 19.National Bank Ltd 20. The City Bank Ltd 21. Basic Bank Ltd. 22. Habib Bank Ltd. 23. HSBC 24. Pubali Bank Ltd. 25. Mercantile Bank Ltd. 26. Social Investment Bank Ltd. 27. Dhaka Bank. C- Class Ban ks: 1. First Security Bank Ltd. 2. UCBL 3. Al-Arafa Islami Bank 4. Bangladesh Shilpa Rin Sangstha 5. IFIC Bank Ltd. 6. AB Bank Ltd. 7. Agrani Bank Ltd. 8. Rupali Bank Ltd. D- Class Banks: 1. Sonali Bank Ltd. 2. Bangladesh Krishi Bank 3. Bangladesh Shilpa Bank 4. Janata Bank Ltd. 5. RAKUB E-Class Bank: 1. Bangladesh Commerce Bank Ltd. 2. Oriental Bank Ltd. 9. Recommendation After observing the operation procedure of DBL, I recommended the following: ATM:Dhaka Bank has few ATM booths in the Dhaka city, but these are not sufficient to give service to the customer’s . So Dhaka Bank has arranged an agreement with Dutch Bangla Bank limited so that the customers of the Dhaka Bank can use its booth. To give smooth service to the customers Dhaka Bank should increase its own ATM Booth. Branch: Dhaka Bank should open branches in the all district towns besides Dhaka & Chittagong city for expansion its business area. Interest Rate: Dhaka Bank should Increase interest rate on FDR and other deposit scheme. Islamic Banking Branch: Bangladesh is a Muslim majority country, so Dhaka Bank should increase their Islamic Banking Branch in Bangladesh. 10. ConclusionIn Halishahar branch I have been working for 3 months, by this time I have found some good strengths and opportunities, Dhaka Bank Halishahar Branch has a strong opportunity to achieve strong market in Halishahar area because it is situated in a appropriate and attractive place. In short time Halishahar Branch gathered 30 core deposits; this is a great achievement for Halishahar branch and also achieving healthy profit as a new branch. From my view, this branch has some Strength these are: ? Dhaka Bank has well reputation in the market. It is number one Private commercial Bank in Bangladesh. ? In Halishahar branch efficient management practice. ? Halishahar branch is Well-furnished and Air-conditioned Bank. Dhaka Bank’s Officers are highly educated. ? Dhaka Bank’s Executives are highly qualified and ex perienced. ? Credit Department of Halishahar branch is strong prospective department. ? Dhaka Bank gathered maximum market share in banking business. ? Dhaka Bank not engaged in unfair business practice. ? Dhaka Bank has many attractive deposit schemes. ? Dhaka Bank becomes more reliable to the all kind of people. References 1. Kenova, V. & Jonasson P. 2006. Quality Online Banking Service. Jonkoping university. 2. Pallent, Julie. 2007. SPSS Survival Manual: A Step by Step Guide to Data Analysis usingSPSS for Windows. England: McGraw. 3. Cooper, D. R. , & Schindler, P. S. (2003).Business research methods (9th Ed. ). Mc GrawHill. 4. Cooper and Schindler (2006) 5. Malhotra 2003 6. http://www. htm. uoguelph. ca, 7. â€Å"Marketing Professional Services† By Philip Kotler, Thomas Hayes, Paul Bloom. 8. Mr. Alan Lau, Head of Consumer Banking, Maybank Singapore 9. October 20011 Mr. Laksham Silva, CEO, DFCC Vardhana Bank (07/03/2012 ADRIANA REYNERI), (Tanbir Ahmed Chowdhury-2009). â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ Deposit-slip depositing the cheque along with Crossing of the cheque are done indicating the Branch as collecting bank Entries are given in the Outward Clearing Register Endorsement â€Å"Payee’s A/C will be credited on realization† is given

External & Internal Factors Essay

Verizon Communications, (NYSE:VZ), formed by the merger of Bell Atlantic and GTE, is one of the world’s leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with over 137 million access line equivalents and over 34 million wireless customers. Verizon is also the world’s largest provider of print and online directory information. A Fortune 10 company with more than 221,000 employees and $67 billion in 2002 revenues, Verizon’s global presence extends to over 30 countries in the Americas, Europe, Asia and the Pacific. As a company of this size, corporate planning is a vital function to deal external and internal factors, in which, the company’s goals or objectives are achieved. In addition, a well-defined strategic planning implemented will be the guidelines in dealing with each factor, such as, rapid change, globalization, technology, e-business, innovation, diversity, and ethics. We will break down each factor as how Verizon’s business plans set their objectives in being the leader of communications services. Rapid Change If there are two issues that characterize the challenges twenty-first century corporations face today, those issues can be summarized as â€Å"competition and change.† (Dessler, p. 13) Rapid change is a common factor that most corporations needed to prepare itself, in order, to be competitive. That is, Verizon is implementing a restructure of their lines of business. One of their focuses is constantly providing improvement of customer services for their customers, such as a faster internet connection, bundling of services, or offering more flexible phone service (local & long distance) packages. The downturn of this restructure is management position reduction, in which, approximately 200 managers will be losing their jobs due to departmental merger. Globalization Research in the solid state technology for the improvement of telephony  switching systems made it possible the development of a new kind of electronic device which also helped the rapid evolution of computers. Computers were gradually interconnected through telecommunication lines. Initially they allowed terminals to access the main frame and later they were used to interconnect several computers in the network. In the early nineties these telecommunication networks covered most of the planet with different communication technologies. An era of knowledge had been birth, telecommunication engineering for computer systems. These new systems allowed information to travel at the speed of light. Such information exchange was the bases of a new economic phenomenon called Globalization of the world economy. The new profile will basically require the following, *To be continuously curious and eager to keep updated with everyday change. *To learn and adjust fast to new administrative routines. *To contribute and efficiently work in small teams. *The perseverance and courage to look for new solutions, for technical and economic improvements. *To print one’ own ideas in a clear and objective way. Technology: Verizon Wireless is on the cutting edge of technology. There are several different types of technology such as new DSL lines, dedicated internet access and Integrated T-1 access to name a few. As a growing business you would have a wide variety of choices available to you, in order to build the type of network that you would need to operate in the most efficient way. Verizon also has a variety of services for networks, voice communications, they will also configure, manage and do project management for a business. A lot of customers don’t have a sophisticated network department so in order to have a network that functions to its fullest potential these services would be a great benefit especially to a small business. There are also  several different types of programs for the disabled with a variety of issues such as speech, hearing, mobility and visual disabilities. Verizon has taken the external factors that affect them and have turned it into a positive business decision for all of their customers. E-Business All over the country people are doing more shopping and selling over the internet. The technology that Verizon is developing will enable everyone to have the connectivity that is needed for uninterrupted connections. The Verizon website can take you to the how to of e-commerce. Some of the items that you can find there are how to develop a web site, ways to get your site ready to sell and the what to do and what not to do for your business. E-commerce is such a broad topic, but as the Web evolves more and more companies will start to advertise and sell on the web which will probably cause businesses to downsize some of their departments such as marketing and customer service to name a few. Innovation As Verizon tries to stay on the cutting edge of technology here are some of the things that they are trying to do. There is a huge role out of FTTP which means Fiber to the premise. This will entail households to utilize more with less. The bandwidth on a fiber cable can handle far more traffic than on copper cable. Customers will be able to use their computers, fax, and telephone all on the same line. It is very much like the DSL line that Verizon is also trying to role out. Digital Subscriber Line will allow you to do more with less. The cost factor between the two, DSL is much cheaper to put in than fiber. FTTP will have to all get put in new. From the cable in the ground to the cable at the customer’s premises. DSL can go over the existing copper lines so we will not have that extra added cost. Verizon also just came out with Sametime; it is a way to chat through Lotus Notes. Now many users while emailing one another can also chat at the same time. Diversity Verizon is committed to diversity. They serve a diverse customer population and strive to have an employee body that reflects that diversity. This commitment is extended to their supplier relationship. Their belief is that having a wide range of suppliers is as critical to the company’s success as having employees that relate to their customers, speaking their language, reflecting their tastes and preferences. The idea is to build customer loyalty, stimulate economic growth, and tap into the innovation and entrepreneurship for Verizon to be competitive. By including Minority, Women, Vietnam Era Vets & Disabled Owned Business Enterprises (MW/DV BEs) in their supplier chain, two main goals are achieved. Verizon positions their business for success and contributes to the economic prosperity of the communities they serve. In a speech for the National Minority Supplier Diversity Council Award meeting, Verizon CEO Ivan Seidenberg assured minority suppliers of their commitment: â€Å"The question facing many minority suppliers is: will businesses cut back on their spending with us, when the going gets a little tough? Of course there are no guarantees — for minority or indeed for any suppliers — but I want to assure you that as much as diversity is a business strategy with us, it’s also a moral commitment — an expression of who and what we fundamentally are. In good times and bad, we’re going to maintain the team that courts and cultivates minority suppliers, and we’re going to do our level best to assure that minority suppliers are not disproportionately hurt when things get tight, as they are right now. This is my personal commitment to you, as CEO of Verizon.† Ethic Verizon’s code of business conduct provides a section on resolving ethic questions for the goal of helping them strengthen their connection with business partners and each other. Realizing that not every ethic questions has an easy answer and may require difficult judgment calls, this code of business conduct outlines the following steps to resolve these questions: (a) define the situation (b) consult resources and (c) seek help from others. By defining the situation; one might be able to find an answer to the question such as: Are you concerned about a possible violation of a law,  regulation or Verizon standard? There are three available consulting resources for their employees: Verizon Promise/Code of Business Conduct/Corporate and department policies and procedures. Finally, employees are advised to seek help from their own manager, another manager, or a specific department like Human Resources, Legal, Verizon Security or the Office of Ethics and Business Compliance. In conclusion, Verizon has positioned itself to deal with these external and internal factors. This shows how their management has made strategic planning in keeping with the company’s mission and in achieving their goals. In addition, their services and products are the reasons why Verizon ranks among the top in leadership, service, diversity and innovation. Verizon’s inclusion on numerous ‘best of’ lists in the country is a testament to these accomplishments. Also, Verizon prides itself on the relationships it maintains with business providers, and strives to promote a mutually beneficial business relationship based on the highest business standards of ethical conduct. Works Cited Dessler, Gary. Management, Leading People and Organizations in the 21st Century (2nd ed.), 2001. New Jersey: Prentice Hall, Inc. Verizon website

Dentist: Dentistry and Dental School

Dentists There are many different careers out there. Dentistry is a career that requires more training than others. There is a wide variety of different specialties that one can do in dentistry, but the majority of dentists are general practitioners. On average, general dentists in South Carolina make about $137,400 a year (Dentists). In order to become a dentist in South Carolina, you are required to graduate and attain a dentistry license. Dentists must be able to do different tasks throughout the day and work with many people.To become a dentist, one must attend dental school which usually takes four years beyond undergraduate college. You may graduate with a degree as a doctor of dental surgery or a doctor of dental medicine. The admittance requirements for dental school vary based on each school. Some of the more common requirements include: at least three or four years of college and at least a GPA of 3. 5 (Dental Schools Ranked by GPA). It is not mandatory to have a Bachelor o f Science degree, however, it is encouraged.Some dental schools require you to take certain science classes such as, chemistry (organic, inorganic and biochemistry), mathematics, physics, biology, and psychology. Before you apply to a dental school, you must pass the Dental Admission Test. The DAT measures your scientific knowledge, reading comprehension, and reasoning skills. After graduating from dental school, you have the option of specialty training. Specialty training is offered at many schools and normally takes about two more years beyond dental school. About one-fourth to one-third of new graduates enroll in postgraduate training programs to prepare for a dental specialty† (Henderson). Some dental school graduates start out working as associates for established dentists. They usually work for them for about a year or two while gaining experience. Others purchase or open up a practice immediately after graduation. Many aspiring dentists also receive additional experien ce by working in clinics affiliated with the school. Another way dental school students may receive experience would be through internship.While interning for a practice, they are able to get used to the physical demands and everyday tasks of a dentist. Dentists should be trained to offer a wide variety of professional services. They should be able to aid gum inflammation, tooth decay, chipped, infected or broken teeth. It is important for a dentist to be able to stand and keep their hand steady for a long period of time. They must â€Å"develop a gentle touch† for the comfort of their patient (Field). This gentle touch will also help them when they have to perform root canals, remove teeth, or corrective surgery on the gums.They should also be able to determine the difference between shades of color and brightness. Dentists are exposed to diseases and infections carried by patients on a daily basis. For this reason, it is important for them to wear protective gear when worki ng. I researched this career because I hope to become a Pediatric Dentist someday. I plan on going to college and majoring in psychology and biology and then going to dental school. My uncle is a dentist and has inspired me to become one. He is very successful and loves his job. Hopefully one day I can become successful and love my job just like my uncle.

COUNTRIES WITH HIGH ADULT AND CHILD MORTALITY RATES Essay

COUNTRIES WITH HIGH ADULT AND CHILD MORTALITY RATES - Essay Example Selection of Angola for this analytical study was based on the fact that, the nation has the necessary resources to improve its healthcare system, yet it is one among several African nations with the highest rates of mortality and morbidity. The country also experiences acute shortage of human resources in the health sector, especially nurses. This research paper attempts to give insight into the current state of Angola’s health system, by considering responsible government institutions, healthcare delivery, nursing education and accreditation, and roles that nurses can play to aid in improvement of the country’s health outcomes. Government Angola is a republic, meaning that its government is chosen by the electorate. The country currently has a stable executive government framework. The president is usually a leader of the coalition or party that gets the highest number of votes in the National Assembly (NA) elections. The president heads the executive branch of govern ment and he or she may serve one or two five-year terms. It is also the president who nominates provincial governors. These governors then elect district administrators for further devolution of resources (UNICEF, 2008). State of Health Angola’s state of health is currently among the worst around the world, as shown by high infant mortality rate at about 154 deaths for every 1,000 newly born babies, and a mortality rate of 260 deaths for every 1,000 kids under the age of five. The country also has a diminished life expectancy of 40 years (USAID, 2010). These shocking statistics are attributable to widespread prevalence of malaria, acute respiratory diseases like pneumonia, diarrheal diseases like cholera, malnutrition and tetanus, coupled with inadequate access to healthcare. The high rate of mortality in Angola is accentuated by the nation’s lack of properly trained healthcare professionals and infrastructure damaged during the civil war. Another significant fact to d enote is the high maternal mortality rate, estimated to be 1,700 for every 100,000 births (WHO, 2010). This exceedingly high proportion can be attributed to prevalence of malaria and hepatitis, among other pregnancy-linked conditions which are left untreated. Angola is also facing several communicable ailments like sleeping sickness, tuberculosis and leprosy. Nonetheless, malaria is the greatest cause of mortality in the country, with approximately 35 percent of reported annual deaths being as a result of this disease (Costa Mendes et al., 2013). Culture and Traditional Medicine In Angola, adoption of traditional medicine and healing practices can be traced back about four millennia. The fundamental assertion that underlies traditional medicine in the country is that, it developed from    experimental observation of the manner in which man reacted to certain environmental triggers. Traditional medicine is no longer extensively practiced in Angola due to adoption of modern medicine and because about 56 percent of the populace lives in urban areas. However, people in rural areas still believe in traditional medicine and many consume purported healing portions (Connor, Averbug & Miralles, 2010). Healthcare System and Delivery Healthcare service delivery in Angola faces acute human resource issues, especially shortage and lack of qualification among care providers. There are also widespread cases

Personal statement Essay Example | Topics and Well Written Essays - 750 words - 10

Personal statement - Essay Example Moreover, I have pursed different courses related to security sciences from different institutions. I have also worked on my Communications skills through pursuing a Diploma in English Language (Michigan Test) Level 112 ELS Indianapolis in 2011. Although I have completed English languages course, I am still hopeful that I will continuously develop my communications skills through practice when I make interactions with other people. My ultimate purpose is to obtain the highest level of education where I can easily secure a challenging position at a major institution related to my field or at a government organization in Saudi Arabia and/ or contributing towards the betterment of the world in general. I am aware that my application of knowledge is an asset to my community and my country as well. Besides, I am privileged to have received a scholarship from the Saudi government towards the completion of my Master’s degree at the Sacred Heart University. Thus, I pursed my studies without financial challenges and focused more on research work and internship. My personal attributes are; open- mindedness, dedication and ready to learn, and share experiences with others. I have professional knowledge in computer use and all common software. I can also read, write and speak in both Arabic and English. My practical and industrial experiences revolve around working in Criminal Justice field. To begin with, I have been working as a police officer in Ministry of Interior from 1998. In 2000, I began working as an Expert of Forensic Science, Criminal Justice and crime scenes in the general administration of criminal evidences, Ministry of Interior Saudi Arabia. Additionally, I have served in the Department of Firearms & Tool Marks Examination as a Head of Ammunition Department (shots) from 2002-04. In June 2004, I became an Officer in Charge of crime scene, explosion of Almuhaya Residential Complex.

Abraham Lincoln. His Life and Achievements Research Paper

Abraham Lincoln. His Life and Achievements - Research Paper Example He was a man of character, integrity and strength. In the present discourse, an attempt is being made to understand Lincoln’s life, achievements, struggles, failures and their impact on America based on existing literature. Lincoln’s childhood: Abraham Lincoln was born on February 12 1809 in Kentucky to Thomas Lincoln and Nancy Hanks. His childhood was something that even Lincoln was never excited about because of the poverty and other challenges he had to face (Charnwood, 13). Abraham Lincoln was the 16th President of the United States of America. His enduring struggle was to end slavery in America and to economically transform the nation. As a young boy, Abraham Lincoln was involved in helping his father and his neighbors (p. 15). Lincoln owes his mental qualities to his mother as well as his step mother. Lincoln’s step mother was instrumental in the minimal education that he received with parental support. Lincoln has the ability to attract crowd even from his earlier years of adolescence. This is evident from Charnwood’s statement, ‘Lincoln was a person of high consideration among the lads of his age and company’ (p.20). Literature related to Lincoln’s reading habits highlights his immense love for reading and reading habits. During his teenage, he read books like Aesop’s Fables, Robinson Crusoe, The Piligrim’s Progress, A History of the United States, Weem’s Life of Washington and even Revised Statuses of Indiana (Charnwood, 21). Even before he reached the age of 20, Lincoln had a deep understanding of how his nation functioned, the principles policies and its governance (Tarbell, 34). Lincoln left his home at 22 and settled in New Salem, Illinois, which were the foundational years for his future. Based on his own efforts, Lincoln acquired some formal education for next few years; he entered the legal profession at the age of 27 (Wilson, 15-19). His achievements in the field of law studies and the profession are attributed to his own hard work and constant struggle. His struggles in the profession of law as well as politics have been immense and are epitome of an ideal le ader and a winner ever since he was elected as the President. Political affiliation: Abraham Lincoln’s first successful electoral is associated with the Sangamon County as the surveyor in 1834 and followed by the Illinois house of representatives as a representative for the Sangamon County in 1836. Lincoln was elected for the Illinois legislature during subsequent 3 years (Chin, 34). As explained by Mansch, Lincoln’s entry into politics is associated with the Nebraska Bill and did succeed in winning a seat in the Illinois legislature around 1854 (p.41). But, Lincoln resigned this post because he wanted to challenge Stephen Douglas, who was responsible for opposing anti-slavery. At this time, Lincoln struggled to gain political identity. Lincoln was deeply moved by the group fighting against slavery, known as free-soilers or anti-Nebraskans that was formed during 1854. At this time, Lincoln knew that he wanted a stable party that shared his political ideals and could be lieve in creating a prominent party of the future. Two years later, i.e. in 1856, different groups with these ideals supporting anti-slavery gathered in Bloomington, which Lincoln attended. Lincoln appropriately used this opportunity to bring together various groups that were fighting against slavery, poverty, and for democracy. Lincoln’s deep desire to abolish slavery and achieve a liberal democracy had made him say, ‘I have no objection to ‘fuse’ with anybody provided I can fuse on ground which I think is right’ (qtd. in Mansch, p.41). Lincoln’s personal experiences with the blacks were minimal, yet he was aware of the slavery

B2B E-Commerce System Essay Example | Topics and Well Written Essays - 2000 words

B2B E-Commerce System - Essay Example Users connect to the web server and send requests to the DBMS for information retrieval. The application server that sits at the middle tier takes requests from the web server, looks up into the DBMS and then processes the information to be fed back to the web server which is visible to the user through a session with the server. Tomcat, Weblogic, and WebSphere are application servers whereas Internet Information Server (IIS) and Apache are web servers. Out of these Apache and Tomcat are free software and the others are paid. In terms of functionality and performance, all servers are similar - it is the software level configurations and hardware specifications that matter. [Liu, Xue and Heo, Jin et al. 2005] Justification: Given that we are just starting the implementation of E-Commerce, it may be advisable that we first start with two tier architecture and then gradually migrate to three tier architecture if the volume of transactions increases. Moreover, choice of the web & application servers will depend upon the technical compatibility aspects of the E-Business package that we shall select in due course. Support & maintainability will be a primary concern and hence we shall favour the platform that is better supported by vendors in our region. Background: The backe... n of E-Commerce, it may be advisable that we first start with two tier architecture and then gradually migrate to three tier architecture if the volume of transactions increases. Moreover, choice of the web & application servers will depend upon the technical compatibility aspects of the E-Business package that we shall select in due course. Support & maintainability will be a primary concern and hence we shall favour the platform that is better supported by vendors in our region. The report on Database Management Systems Background: The backend tier needs to be a database management system (DBMS) that shall hold all the information & data pertaining to the E-Business application. In this context, an analysis of MySQL, Oracle and Microsoft SQL Server is presented herewith. Detailed Analysis: MySQL is a freeware and the other two are paid DBMS software. I have studied the comparison between Oracle and MySQL from the perspective of main DBMS features - Data Types, Tables, Indexing, views, synonyms, sequences, Data Definition & Modification language, stored procedures, triggers, functions, XML compatibility, transactional capabilities, security, auditing, replication and clustering. Most of the features of Oracle are available in MySQL current versions. However, few critical features, like two way replications, high availability clustering, hot backups, role based security (grouping of users into roles before assigning privileges) and partial rollback (partial backing out of erroneous transactions) are not supported by MySQL. Given that this is an open source software, further releases can always have these features added. However, one aspect should be kept in mind that the engineering behind Oracle DBMS is the result of decades of competency development of Oracle

Spinal manipulation for back pain Article Example | Topics and Well Written Essays - 500 words

Spinal manipulation for back pain - Article Example Under these circumstances, spinal manipulation is suggested as an alternate method capable to ensure good level of recovery from low back pain. This technique involves the skills of a trained chiropractor or a physiotherapist to move the spinal bones of the patients using their hands. But spinal manipulation has not been received well by the entire community of medical practitioners. The experts have raised serious apprehensions on the efficacy of these practices and propose detailed research to investigate the reliability of spinal manipulation for the treatment of low back pain. Random clinical trials are conducted of the samples who receive the spinal manipulation therapy and the effectiveness is often measured using patient based primary assessment system that includes patient rated intensities in pain, the extend of disability, overall improvement experienced time taken for recovery. The spinal manipulation therapy is often said to have responded differently to different level o f back pains. In the case of patients reported with acute back pain moderate level of evidence is available for the short-term relief of pain being achieved using spinal manipulation therapy. The repots available also highlight that in the case of patients suffering from chronic back pain, the moderate evidence is available in favor of spinal manipulation therapy both in long term and short term. Extensive research have been undertaken to assess the impact of spin

Tuesdays with Morrie III Essay Example | Topics and Well Written Essays - 750 words

Tuesdays with Morrie III - Essay Example The book forces us to take a good, hard look at ourselves and the world we belong to and see what changes our culture could make. This is, indeed, a difficult question – used as we are to ask no questions, go with the flow, â€Å"fit in†, so to speak. And perhaps, that exactly is the problem, and that exactly is the change that must be sought. Ours is a culture that propagates the idea of â€Å"fitting in†, of homogeneity, of belonging. It sets very specific rules to follow and yardsticks by which an individual is to be judged. At the most benign, it makes life a popularity contest and causes frustration to those who cannot quite meet the standard. On a deeper level, it legitimizes racial profiling and gender stereotyping. Mitch is a young journalist, and perhaps knows all too well the huge role that media plays in shaping popular culture and molding social values. Indeed, factual and fictional media portrayals have a propensity to activate culturally shared racial and gender stereotypes and affect judgment involving those who belong to stereotyped groups. The website Media Awareness Network states that â€Å"stereotypes act like codes that give audiences a quick, common understanding of a person or group of people—usually relating to their class, ethnicity or race, gender, sexual orientation, social role or occupation.†1 However, stereotyping is dangerous in that it transforms assumptions into realities and it places individuals in simplistic categories without recognition of each person’s uniqueness and gifts. The stereotypes of women in media are easily evident. In television shows for instance, who has not seen the dumb blonde, the soccer mom, the girl next door, or the corporate go getter? I watch television often and I see these images all the time. Though the stereotypes have undergone revamping since the 1950’s, with less of the Brady Bunch images and more

BarChris Construction Case Study Example | Topics and Well Written Essays - 250 words

BarChris Construction - Case Study Example The misappropriated entries included current assets having a 15% overstatement of $609,689; 42% understatement in contingent liabilities amounting to $618,853; gross profit overstatement of $230,755; $519,810 worth of sales’ overstatement; undisclosed loans to officers totaling to $386,615; and an overstatement in backlog of orders among other figures. Auditing involves the application of accounting principles as they relate to costs and revenues. Following the sale and leaseback cases, the judge’s argument that the gain on the debentures was improper is misleading since this approach is accepted in GAAP. Although the customers who acquired the leaseback properties incurred overwhelming arrears on their discounted notes, it is not considered a reasonable standard for auditors to concern themselves with the effects of business strategies of the companies they audit. Hence, as earlier stated, the auditors’ responsibility is to access, point, question, and report on accounting activities and not on investment or business strategies associated with the gains (United States District Court, 1968). The case of Berardi places himself at the center of blame for the problems associated with BarChart’s accounting misappropriations. The merits of blaming Berardi for the problems facing BarChris include his inability to dedicate more time to review the results of the S-1 review, the hiring of an inexperienced accountant, and concealing of information such as loans to officers. In order to rectify these causes of the primary problems, Berardi could have hired a qualified accountant, should have dedicated more time to review accounts, and conducted regular internal audits (United States District Court, 1968). United States District Court. (1968). Escott v. Barchris Construction Corporation 283 F. Supp. 643 (S.D.N.Y. 1968). Accessed online on February

Transformation of a Korean Bank Essay Example for Free

Transformation of a Korean Bank Essay Question 4 The IT related decisions taken by the Kwangju Bank include the downsizing of the information systems and the reengineering of banking processes, headed by the then chairman of the board for the bank. These were impacted by the competition in the global market in that having employed the former information system, the bank was too was weak compete against the foreign banks in the US, Japan and Europe. The bank could not establish its individual business strategies to stand prominently in the global market for the reason that the information system employed. Hence, all these factors led to the important decisions in the area of information technology (Rainer Watson, 2012). Question 5 Risks The OLTP system is the most significant and critical system of a bank due to its direct linkage to the financial interests of the customers. Any trivial issues in the system may critically impinge on the credibility of the bank. For this reason, downsizing the OLTP system of a bank is a pioneering, yet exceedingly risky venture for any bank (Young, 2011). Opportunities * Catch the attention of customers by assisting them in managing their financial interests rather expediently; * Capable of providing banking services whenever and wherever the customers wish for; * Support electronic â€Å"wallets†, automatic teller machines, self-service terminals, home banking, and commercial banking; * Adequately flexible for helping the development of novel products and the making of more effectual banking decisions Question 6 The new system facilitates the customers in getting better service as in quality and timeliness. For instance, the transaction processing speed has been enhanced considerably from four to six seconds to 0.7-2.0 seconds for every transaction. The bank is now capable of serving customers 7 days a week and 24 hours a day, rather than the typical eight hours. Also, customers have a greater number of financial services to select from since development cycles of new product have been considerably trimmed down from months to weeks (Young, 2011). Additionally, having employed the new system, the bank was capable of reducing the operating costs with optimized performance and pursuing novel strategies of business, more effectively. The new open information system imparts enhanced freedom from the domination of vendors and flexibility, and permits more convenient espousal of new technology. Question 7 The programs had been developed in a bit by bit manner without a general outline. As a consequence, it was very costly and difficult to modify or maintain the programs. Moreover, it was very difficult to efficiently develop novel programs responding to the swiftly modifying market environment. Question 8 The vendors supplying the systems based on mainframes attempted to hinder the project for the order of protecting their potential as well as current markets. The superior personnel at the computer center of the Kwangju Bank were mocking regarding the project since they were uncomfortable with the novel technology. Moreover, academicians who were paid for evaluating the project inferred that undertaking involved a great risk because the technology was not adequately mature. Question 9 Yes, the banking process reengineering had to accompany with the development of the new information system. This is because the banking operations were obstructed by its computer vendors and computer systems. The bank was unable to establish its distinctive business approaches since the existing information systems were incapable of supporting them. Conversely, the expenses on information systems were escalating at a greater rate compared to the rate of escalation of the bank’s returns (Rainer Watson, 2012). References ICFAI Center for Management Research. Learning with cases. Retrieved from http://www.icmr.icfai.org/casestudies/learn_case.htm on Jan, 26th, 2012. Rainer, K. Watson, H. (2012). Management information systems moving business forward. John Wiley Sons, Inc. Young Moo Kang. (2011). International Case Study 3: From a dinosaur to a chameleon – Transformation of a Korean Bank. Dong-A University, Korea. Retrieved from http://www.wiley.com/college/turban/0471400750/international/dino.html on Jan, 26th, 2013.

Mental impairment Essay Example for Free

Mental impairment Essay The law of not guilty due to mental impairment in Victoria, Australia was started as a simple experiment in the mid nineteen nineties as a result of the a case that involved victims that were released from prison on the account of not being guilty on the ground of mental impairment which was initially known as insanity (Patelis, 1996). Such a decision was always made by the Governor after consulting with the cabinet on the way forward. Afterwards, it was shifted to the courts that were concerned with sentencing. The victims who had initially been the favorites of the politicians and the Governors for that matter ended up waiting for long periods of time for their cases to be determined by the courts immediately after this change was effected (Patelis, 1996). This change in the legislation was to mean that the people who were to be released on the grounds of not guilty by reason of mental impairment had to be detained in the precincts of the court for at least a period of time for the purpose of their own security and the security of the community at large. This was part of implementing the obligations that were recognized internationally on the principles of protecting the insane people and also those who had mental problems. The law had been interpreted by the seventy supreme courts in Victoria by the year two thousand and four. To date, this body of law constitutes one of the very vital organs in the mental health section. Factors that cause differences in opinion toward Mental impairment defense. In Victoria and other parts of the world, there are factors that cause people to react negatively towards defenses based on the ground of insanity or mental impairment (Feusch, 1980). This is an issue that is one of the mostly contested about and has ended up generating a lot of debates among many people including those who support the ideas and those who are against the ideas. Many view it with very strong opposition and cannot see the reason why someone should be released or acquitted by the courts on grounds of mental disorders. Such releases have really led to a lot of heat and therefore mistrust towards the said defense and resulted to general bias of the defense (Feusch, 1980). Some states have been forced to go ahead and abolish this kind of defense by the increasing number of outcries from the public. An example is the release of a victim in the United states of America after he attempted to assassinate the then president in the year nineteen eighty one. The president was Reagan Ronald. A lot of changes and shifts in the law about insanity defense came soon after this attempted assassination with many of them concentrating on the not positive public outcry. These negative views and opinions are not only found in the U. S but cut across many mixed cultures (Menzy, 2002, pp. 379). Many of the attitudes facing the defense on insanity can be termed as genuine but one wonders, for how long? The media has also played a role that is looked at as being negative and has led to negative opinions and stigmatization among people on the misuse and abuse of the defense on insanity. Jurors have also been affected by these allegations. Most of them would go to court with minds that are already influenced by the media or by the mare perception of insanity thus ending up passing verdicts that are uninformed and misplaced. There are two main concerns that show case as to why the public has different views on the insanity defense cases (Menzy, 2002, pp. 82). Albeit the misperceptions exist, one would argue that they are uninformed. The first highlight is that, the people look at the defense on insanity grounds as a mare scape goat by which victims of crime can avoid court prosecution and hence punishment. Such beliefs oftenly make the public feel that the criminals evade their rightful justice and yet they have committed crimes. The other reason is that, lack of accurate and correct information about such cases of insanity lead to criticism and negative reaction by the public. The truth is that even if the jurors and the judges are given the right number of cases that involved mental illness, they end up exaggerating the figures by making them look as if they were too many thus inciting the public to have conflicting reaction on the same (Jons, 1999). Such ideas that are misinformed could lead to general bias that influence the decision concerning the mentally ill thus leading to unfair judgment in most of the cases. Case Studies. New Zealand(NZ). In NZ, the people who are found to be not guilty by reason of insanity(NGRI) are released by the courts under special conditions. They undergo treatment, rehabilitation and monitoring by the forensic services on mental health(FMHS) (Jons, 1999). Some of the patients are treated as special cases and can only be released or discharged upon the assent of the minister in charge. This of course, depicts the concern of the public about the risk that is bound to be faced if such people are taken back to the society. The FMHS department has the task of both seeing to it that the patients recover on time and also making sure that the public is protected against such patients. Despite the presence of the FMHS department, there is still the concern about the likelihood of the criminals to go back to the society and cause more crimes and havoc (Peter, 1982, pp. 2). Such cases have not been focused on critically by the FMHS and is becoming a stigma to both the mentally ill and those in the community at large. The acquittees on mental grounds are rehabilitated for a long period of time until such a time when the outcomes are inevitable. Also as a way of treating the patients, the public is to be informed so that their attitude changes in order for there not to be any form of stigma (Peter, 1982, pp. ). A research was carried out by students of a local University on the outcome of the efforts by the FMHS, the patient treatment duration and also looked at the rates at which the criminals are committing crimes after being acquitted. The findings of the research suggested that those offenders who committed major crimes were detained for a long period of time than those who committed less serious offenses. It went ahead to point out that patients were released on the basis of their recovery and not on the duration of time they spent in the hospitals. In England and Wales. In England, there was a scenario in which a person of an adult nature was detained on the grounds of having committed a crime and yet he was mentally ill. The victim had been referred to the hospitals mental rehabilitation unit by one of the courts in England (Finke, 1989, pp. 403). It meant that the doctor who was taking care of him was in charge of renewing his detention period but was not in charge of carrying out medical examinations in case of any challenges arising about the case. An independent doctor would be brought in to carry out the examination in order to avoid biasness. The patient had been classified as one with acute mental disorder and yet in real sense, he was suffering from confusion and a state of disturbance, a condition he developed in his early adulthood (Finke, 1989, pp. 406). Several doctors refused to reclassify him and suggested that he belonged to the mental rehabilitation clinic. A medical officer ones examined the patient and gave contradicting views from those of the other doctors. They then came to an understanding that the patient would be reclassified. Thereafter, several cases of the sort came up but were treated differently from the first one (Finke, 1989, pp. 08). In Australia (Victoria State). It is very clear under section twenty cap one of the crimes Act of nineteen ninety seven that only a person suffering from mental disorder and that he/she is proved to have committed a crime at a time when he was suffering from the illness, can be allowed to used the defense of mental impairment. This meant that the person either committed the crime and was not aware of the quality and nature of the crime or the person was not aware that the conduct and manner with which he/she committed the crime was not right (Finke, 1989, pp. 405). Here in Victoria, if a person is found to be not guilty on the grounds of NGRMI(not guilty by reason of mental impairment, the person is declared to be put under supervision by the court as per part five of the crimes act of nineteen ninety seven or the court declares the person to be unconditionally released. The order may give conditions on the release or may put the defendant in custody. The order is then supposed to be reviewed by the supreme court of justice and by its discretion may order that the person be released. Such reviews are really taking center stage in Victoria. There were a number of attempts aimed at allowing the courts to look for alternative measures to be put in place in order to address the issues of mental impairment. The problem that arose was that the alternatives were planted fully on the courts and not the other organs of government (Capylon, 1984). This led to a situation where there was no significance in the decrease of the number of people who were accused to have committed crimes. The type of system adopted was the Governors pleasure system(GPS) and it was viewed as being unfair by some people. This system could detain someone in custody for a very long period of time and yet the person is genuinely mentally ill (Capylon, 1984). In some cases, the system would propose that the victims be detained in the hospitals for a longer period of time than what was required. It is quite obvious that different people get different treatment in terms of administering verdicts and this is as a result of the type of system being used in Victoria. Some of the cases need a longer period of time on treatment while others require shorter lengths of time. This system does not recognize that. The crimes act, for instance, says that a judge passing a judgment of NGRMI(not guilty by reason of mental impairment), may unconditionally discharge or take an order of supervision (Capylon, 1984). After that, the supervision of the victim is maintained by the court at all times unless otherwise stated. The legislation simply means that its main motive is not to punish the victim but to take care of the safety of the public. In any circumstance, it must be the scenario because the accused has not yet been proved guilty by the courts. Besides, the safety of the victim is also of paramount importance and therefore, care should be taken at any stage of the case in order to avoid further interference with the mental condition of the accused. The courts of appeal and the high courts have time and again deliberated on the issue of dangerousness. The issue is very vital in deciding whether or not a person is supposed to be kept in custody or be taken to the detention facilities. This is thought to present a bone of contention between the different tribunals and organs of law (Capylon, 1984). It goes without saying that the adopted reforms have gone a long way to address the issues of dealing with the mentally impaired and the insane in regard to the type of crime they might have committed and the condition is which they committed the crimes. Such reforms go out of the way to address the difficulties encountered while dealing with the problems brought about by mental insanity. These reforms suggest to some extend that the identified problems be given new solutions with the aim of solving them ones and for all (Feusch, 1980). It is however, very difficult to rule out any possibilities of challenges arising concerning the reforms. Such challenges include researches on the brains functionality and the possibility of studying the behavior of humans. These when done, will be of paramount use when dealing with such issues in the future. The problem of dangerousness predictability is the major worry at hand as it is assumed that the moment a person commits a crime in the first place, he/she is bound to do the same time and again. This of course is a wild goose chase when the NGRMI is applied to such like a situation (Feusch, 1980). This debate has opened a Pandoras box and has made courts to take an approach that is conservative when acquitting the victims who have the ability of causing harm to the community and to themselves in the future. This type of approach goes hand in hand with the high courts principles on sentencing which says that the society should be protected against any form of harm and be given the first priority (Feusch, 1980). One would say that it is in the area of psychology that bigger and greater ideas are to take place. Such advances to some extend will give solutions to the predicaments associated therein. Approaches such as complete treatment of the mental illness using therapy and strong medication are highly recommended. Recommendations. Much efforts should be put in place in order to address the problem of dealing with mental impairment and insanity. Reforms should be made in the existing legislations in order to seal any loopholes that might see some people getting unfair verdicts during judgment as others face the full force of law (Peters, 1982). It is therefore in the best interest of the courts, tribunals and the public at large to spearhead the implementation of such reforms in order for there to be fairness in the way such cases are handled. Proper approaches should be made so that victims acquitted on grounds of mental impairment and insanity are taken care of so that they do not become a menace in the society and to themselves too. Conclusion. It is rather uncalled for that despite the many approaches and advances that have been made in the recent past, no much effort has been put in place to adopt them and implement them cross board. Differences have been witnessed in the manner in which verdicts have been passed in different jurisdictions as it turns out to be unfair in some situations depending on who is being judged. This in itself is a challenge that needs to be addressed and a viable solution be found and effected with adequacy. Further research is needed in this field to address the various problems that are causing ripples in the courts of law and in the judiciary at large. If these are not addressed, there are bound to be a lot of problems in the corridors of law.

Big Company With A Large Amount Of Inventories Marketing Essay

Big Company With A Large Amount Of Inventories Marketing Essay Nestlà © (Malaysia) Berhad started in Malaysia in 1912 and was listed on Bursa Kuala Lumpur on 13 December 1989. The company manufactures a wide range of products including instant beverages, milk product, ice cream, cereals, chilled products and many more. Meanwhile, Nestlà © (Malaysia) Berhad has a lot of brand names. For instance, MILO ®, NESPRAY ®, NESCAFÉ ®, MAGGI ® and KIT KAT ® (Nestlà © Berhad, n.d.). Like other trading and manufacturing company, Nestlà © (Malaysia) Berhad purchases raw materials as the input for production of final goods. It is then to be sold to the customers with the intention of earning profits. The valuation of inventories used by Nestlà © (Malaysia) Berhad is first-in first-out (FIFO) method. Since it is a big company with a large amount of inventories, it has been proved that a good control over inventory must be maintained (Reeve, Warren and Duchac, 2007, p.308). A little mistake made will have a significant impact on the financial statements. 2. CONTENTS 2.1 Types of Inventories Nestlà © (Malaysia) Berhad manufactures various types of products and has several categories of inventories. It includes raw and packaging materials, work-in-progress, finished goods and spare parts (Nestle (Malaysia) Berhad, 2012). Finished goods Work-in-progress Raw materials Nescafe Milo Smarties Kit Kat Haagen-Dazs Nestea Roasted coffee beans Chocolate crumbs Skim milk powder Cocoa paste Sugar Coffee beans Vanilla Palm oil Salt Milk 2.2 Process of Manufacturing the Goods Nestlà © (Malaysia) Berhad produces many types of goods to be sold to the customers. The process of manufacturing the goods is from raw materials to finished goods. One of the examples of process of manufacturing the goods is from cherries to NESCAFE. NESCAFE (coffee) Grinded coffee beans Roasted coffee beans Cherries Coffee beans The first process of manufacturing the Nestle NESCAFE is harvesting the fruit of the coffee beans. The coffee trees have a fruit that are called cherries and it contains two coffee beans in each cherry. The great taste of NESCAFE is born from these beans. The second process of manufacturing the Nestle NESCAFE is drying the coffee beans. The coffee beans need to be separated from the skin, pulpa and parchment to get at the coffee beans inside each cherry. The cherries are dried under the sun or by soaking the cherries in the hot water to achieve the coffee beans. The third process of manufacturing the Nestle NESCAFE is roasting the coffee beans. The beans need to be roasted to release the aroma and taste we know as coffee after the green coffee beans have been selected. The fourth process of manufacturing the Nestle NESCAFE is grinding. The beans are ready for grinding after roasting. The brewing method and equipment used can determine the particle size of the grind; whether coarse or medium, fine or very fine. Lastly, the process of manufacturing the Nestle NESCAFE is processing. The ground coffee put into an industrial percolator containing hot water under pressure that brew a highly concentrated liquid coffee that called coffee liquor to make NESCAFE Pure Soluble Coffee (Nescafe, n.d.). 2.3 Valuation of Inventories Used by the Company Inventories are valued by comparing between the cost and net realisable value (NRV). The lower value one will be the amount of closing inventories. This is based on the Lower Cost Method (LCM) rule which is the lower of cost and market value (WebFinance, 2012). There are two types of methods commonly used by most of the companies to calculate cost of inventories: First-in first out (FIFO) Weighted Average COST (WAC) The NESTLE company uses the first-in first-out (FIFO) method to evaluate their companys inventories. This is because it is simple to understand and easy to operate. The FIFO method means that whichever goods that are purchased first will be sold first to the customers. In another words, the oldest goods will be sold first. Hence, the goods most recently purchased are the closing inventories at the end of the year and made up of most recent costs (Murray, 2012). By using FIFO method, the closing inventories consist of most recent purchase prices which show the current market price. For big company like NESTLE Berhad, this method enable the company to have fewer amount of obsolete inventories. However, this method may lead to errors if the prices fluctuate frequently. The cost of sales will also be understated during inflation and causes profit to be overstated. This contradicts with prudence concept where the profits and assets should not be overstated while losses and liabilities should not be understated (Rabi Gupta, 2012). 2.3 Valuation of Inventories Used by the Company (contd) Based on the Nestle (Malaysia) Berhad Financial Report 2011 (2012, p.34), the value of raw and packaging materials in 2011 is RM 219,608,000. Meanwhile, the value of work-in-progress inventories is RM 21,139,000. The finished goods are worth RM 258,968,000 and the spare parts are worth RM 517,573,000. The financial report shows that the value of inventories has increased in 2011 compared to 2010. In 2010, the value of raw and packaging materials is RM 144,263,000 while the work-in-progress inventories are RM 16,558,000. The finished goods are worth RM 202,828,000. Meanwhile, the spare parts are worth RM 380,539,000. 2.4 Amount of Closing Inventories as Reported in the Financial Statement In group, the amount of closing inventories as reported in the Nestle (Malaysia) Berhad Financial Report 2011 (2012, p.10) is RM 517,573,000 in year 2011 and RM 380,539,000 in year 2010. This shows an increase in the value of inventories in year 2011 compared to year 2010. The financial statements are attached in the appendix on page 13 to 16. 2.5 Definition of Relevant Information Relating to Inventories i) Inventories The merchandise, raw materials and processed and unprocessed product of a company which are still remain unsold. Inventory is considered an important asset that is owned by a company for generating revenue. In another word, inventory is called liquid assets. The accuracy of the inventory counting is very important so that the companys profit and loss can be determined accurately (Investopedia, 2012). ii) First-in First-out (FIFO) FIFO is the short form of First-in First-out. FIFO can be assumed as a processing and retrieving data method. The way that a FIFO system works is the first units out, is the first units in or purchased. In another word, the first units sold are assumed to come from the beginning inventory. So, the inventories will always have the latest purchased goods. The first-in first-out method also functions to value inventory under purpose of taxation. Hence, inventories will value at the latest cost (Murray, 2012). iii) Weighted Average Cost (WAC) When weighted average cost (WAC) method is used, the average unit cost for each type of item is calculated each time a purchased is made. It is then used to determine the cost of each sale. When another purchase is made, a new average unit cost is calculated (Investopedia, 2012). iv) Cost of Inventories Cost is the historical cost. It is the original purchase price that is calculated either using the First-in First-out method or the Weighted Average Cost (WAC) method. Based on the Accounting Standard (AS) 2 Valuation of Inventories (n.d., p.10), cost of purchase, cost of conversion and other cost incurred in bringing the inventories to their present place and condition are all included in the cost of inventories. v) Net Realisable Value (NRV) According to the Accounting Standard (AS) 2 Valuation of Inventories (n.d., p.10), Net Realisable Value (NRV) is the value after the selling price or the market value minus any other expenses used to sell the goods such as transportation and insurance. 3. CONCLUSION In the process of completing this assignment, we have learned that accounting for inventory is a very important topic especially for us who study accounting. We gain a lot of experiences and know the importance of teamwork in finishing a task before the deadline. As accounting students, this research teaches us that a trading business must record, retain, and report information about the purchases and sales of its goods. Apart from that, it is very important that the valuation of inventory is accurate to ensure that the profit or loss calculated in the financial statements is accurate too. This understanding will help us in our work in the future.