The Theory of Obligation Essay Example | Topics and Well Written Essays - 750 words

The Theory of Obligation - Essay Example The strict commitments preclude the people from submitting sins for example lying, cheating, infidelity, sex, drinking and resisting the guardians, educators, and older folks on the loose. So also social commitments interest for watching the standards, qualities and conventions, winning in the social foundation. Thus, hypothesis of commitment envelops all parts of individual and aggregate human life so as to make society a quiet spot of living. Extraordinary logician of antiquated Greece Aristotle has introduced his Theory of Virtue where he submits to express that the wellspring of a wide range of uprightness and goodness is indeed the very same (Nicomachean Ethics, 1096a30). The idea is generally trailed by the masterminds and savants by taking it the scale to quantify the size of good and constructive conduct of the individuals and its relationship with their general demeanor while going into connection with others. Aristotle’s guide Plato has introduced the tenet that Almi ghty God is the wellspring of all decency and vitality, from Whom all integrity shows up to light up the universe. Aristotelian suggestion depends on his well known precept of the spirit, where body contains the spirit, it must have the characteristics credited to the spirit. In any case, body is every now and again expressed as materialistic and unholy one in contrast with the spirit, which is unadulterated and clean. At the end of the day, integrity of soul can be seen through the exhibitions being made by the human body containing the properties of the spirit existing into the body. PART II Keeping in see the Obligation Theory just as Aristotelian principle of Virtue, I will carefully watch graciousness, altruism, accommodation, lowliness, honesty, correspondence and equity while interfacing with different citizenry. I will adhere to these respectable standards in my individual and public activity. I will pay due regard to my investigations, and would endeavor my best to acquire astounding imprints in assessment. Subsequently, I won't mislead my folks and educators, who are making venture of time, and energies on my instructive vocation. I will go to the congregation on each Sunday so as to pay my humblest appreciation to my Creator for His endless leniencies and bounties upon me. I will attempt to follow the honorable lessons clearly referenced in the Holy Scripture, which orders me to love One God, comply with my folks, be modest in supplications, regard the older folks, love to the more youthful, show genuineness and trustworthiness in exchanges, to enable the penniless, to mind the neighbors, be considerate to other people, and cease from infidelity, sex, lying, deluding and breaking the Covenant to the Lord (Leviticus, 19). I will be faithful to my friends in the play area, and true to my association while entering the expert life. I will attempt my best to work for the great name and notoriety of my work place. While explaining my political perspectiv es, I will cast a ballot and backing the most appropriate, legitimate and submitted applicant, and henceforth will never take his racial, ethnic and strict foundation inside and out. I will visit public venues and medical clinics at any rate once in fortnight so as to observe the issues looked by the individuals having a place with my locale. I will go through some cash on beneficent issues, to offer budgetary and good help to the oppressed and poor.

Predicting Formulas of Compounds with Polyatomic Ions

Anticipating Formulas of Compounds with Polyatomic Ions Polyatomic particles are particles comprised of more than one nuclear component. This model issue exhibits how to foresee the atomic recipes of a few mixes including polyatomic particles. Polyatomic Ion Problem Anticipate the equations of these mixes, which contain polyatomic ions:â barium hydroxideammonium phosphatepotassium sulfate Arrangement The equations of mixes containing polyatomic particles are found similarly as recipes are found for monoatomic particles. Ensure you know about the most widely recognized polyatomic particles. Here is a rundown of polyatomic particles to support you. Take a gander at the areas of the components on the Periodic Table. Particles in a similar section as one another (Group) will in general display comparable attributes, including the quantity of electrons the components would need to pick up or lose to take after the closest honorable gas molecule. To decide regular ionic mixes framed by components, remember the accompanying: Gathering I particles (antacid metals) have 1 charges.Group 2 particles (basic earth metals) have 2 charges.Group 6 particles (nonmetals) have - 2 charges.Group 7 particles (halides) have - 1 charges.There is no basic method to anticipate the charges of the progress metals. Look on a table posting charges (valences) for potential qualities. For starting and general science courses, the 1, 2, and 3 charges are frequently utilized. At the point when you compose the recipe for an ionic compound, recollect that the positive particle is constantly recorded first. When there are at least two polyatomic particles in an equation, encase the polyatomic particle in parentheses.Write down the data you have for the charges of the segment particles and equalization them to answer the problem.â Barium has a 2 charge and hydroxide has a - 1 charge, therefore1 Ba2 particle is required to adjust 2 OH-ionsAmmonium has a 1 charge and phosphate has a - 3 charge, therefore3 NH4 particles are required to adjust 1 PO43-ionPotassium has a 1 charge and sulfate has a - 2 charge, therefore2 K particles are required to adjust 1 SO42-particle Answer Ba(OH)2(NH4)3PO4K2SO4 The charges recorded above for particles inside gatherings are the normal charges, however you ought to know that the components now and again take on various charges. See the table of the valences of the components for a rundown of the charges that the components have been known to accept. For instance, carbon ordinarily accept either a 4 or - 4 oxidation state, while copper generally has as 1 or 2 oxidation state.

Practical Advice for Point of View Problems - Freewrite Store

Reasonable Advice for Point of View Problems - Freewrite Store Independently publishing through channels, for example, Amazon KDP implies you can rapidly and effectively get your books under the control of your perusers. It removes that spirit annihilating procedure of gathering dismissal letters from distributing houses with restricted distributing spending plans. It’s incredible news if you’re a creator - and it doesn’t cost anything, either. In any case, there is a drawback. Going down the independently publishing course implies that you don’t get the expert altering that customary distributing involves - which implies you either need to pay for a duplicate editorial manager or alter yourself. Altering your own work is extreme - and possibly that clarifies why there are such a large number of independently published books that have loads of terrible mistakes. One of the more troublesome issues to spot in your own composing is issues with your perspective - so in this article, I’m going to take you on a whistlestop visit through three of the most widely recognized perspective issues, how to remember them - and, in particular, how to fix them. A Quick Refresher on Point of View On the off chance that you’re a writer (or a yearning writer) at that point you most likely as of now comprehend what perspective is, however in here’s a short boost. Basically, perspective comes down to asking yourself, as you’re composing â€Å"which character’s eyes am I looking through?†. You can utilize: the primary individual perspective - told in the principal individual, with (at least one) principle character(s) portraying the story - for example â€Å"I realized that Damien was inconvenience the first occasion when I met him.† the third-individual perspective - told as an outsider looking in (he, she, they), with a perspective character portraying the story - for example â€Å"Thomas delayed in the entryway, tensely watching Felicity playing with Damien. There was something off about Damien, Thomas could detect it.† omniscient perspective - the story is told by an omniscient storyteller (somebody who sees everything) - for example â€Å"Felicity was careless in regards to Thomas’ distress as she twined her arms around Damien’s neck.† various perspectives - typically as an outsider looking in, yet here and there in the primary individual, you can have numerous perspective characters in your story - yet the more you have, the more perplexing your story becomes. 3 Key Point of View Problems - And How to Spot Them There are various kinds of perspective issues that are regularly found in distributed books. The initial phase in having the option to expel these sorts of issues from your fiction is first realizing what they are. 1.â â Inconsistent Viewpoints This is, by a wide margin, the most well-known - and most significant perspective issue that I seem to be a composing mentor. It doesn’t simply influence new journalists - as some ‘experts’ guarantee, yet can influence any essayist at any phase in their profession. Indeed, perspective issues can get ongoing for experienced essayists - even the individuals who have had standard distributing achievement. Thus, I’ll be investing more energy in this issue than the other two regular issues! A conflicting perspective can cause your novel to appear to be messy and seriously composed - regardless of how amazing your utilization of language. When you’re composing, perspective irregularities can without much of a stretch slip in - particularly when you get ‘carried away’ when you’re composing. There are quite a couple of ways that perspective irregularities can slip into your accounts - something beyond things like slipping among at various times tense. We’re going to glance top to bottom at the absolute generally regular of these, and how to remember them when you’re altering your novel. Once we’ve picked a perspective - regardless of which we pick - we have to adhere to it. The main special case is when we’re utilizing an omniscient perspective, yet this kind of perspective has become undesirable as of late. Most perspectives are known as restricted perspectives - and this implies we can just incorporate the things that the perspective character can see, hear, smell, taste, contact, feel and think. At the point when you are composing from one character’s perspective, that character can’t realize what another character is thinking, for instance. Before we delve into the particular sorts of irregularities, here’s a case of how a conflicting POV can glance in a story. When we’ve experienced the kinds of irregularities, return to this and perceive what number of you can spot! Christy strolled energetically along the walkway, unaware of the way that the unpleasant person who had taken her satchel was following her. An unexpected sound alarmed her, and she looked back behind her. She didn’t see the toecap of the man’s left boot jabbing out of the entryway twenty paces behind her. She shrugged and continued strolling. Her stalker smirked.Stupid kid, he thought, sneaking out of the entryway and proceeding to follow her. Christy arrived at the entryway to her condo square and headed inside, picking to use the stairwell up to her third-floor loft. Michael had advised her not to return home until the locks were changed tomorrow, however she couldn’t go into work in a similar outfit two days running. It would all be fine. She was certain that whoever discovered her tote would hand it in to the police. She opened her condo entryway and ventured inside, turning on the lights as she entered. The man following her grinned as he viewed the entryway not far behind her.Tonight will be fun, he thought, slipping the key he’d taken from her satchel into the lock on the entryway. a.â Attributing feelings to non-perspective characters Your perspective character can't realize what different characters are feeling except if the other character lets them know. This implies you can’t, as the writer, mention to the peruser what a non-perspective character feels. This blunder happens more frequently than you’d acknowledge - and you in all probability would miss it in your own composition on the off chance that you weren’t explicitly searching for it. For instance, on the off chance that you were writing as an outsider looking in, from Alex’s perspective, and another character (let’s call him) Bob was feeling furious, you may compose that â€Å"Bob hammered the entryway in anger†. That’s a POV irregularity since in spite of the fact that Alex may figure that Bob is irate, he can’t really realize that Bob is furious, along these lines can’t be sure that the entryway was hammered the entryway out of resentment - the breeze may have gotten the entryway and made it pummel as Bob was shutting it, for instance. When you’re altering your novel, look out for these sorts of expressions - and whatever other circumstances where non-perspective characters feelings are expounded on. b.â Attributing inspiration to non-perspective characters When you’re expounding on a non-perspective character, it’s extremely simple to slip into the snare of explaining to the peruser why the character accomplished something. For instance, if Ben isn’t a perspective character (yet Aaron isthe perspective character), composing: â€Å"Ben seen Aaron in the group and rushed to meet him,† would be a POV irregularity. With these sorts of mistakes, spotting them isn’t simple, shockingly - particularly when you’re altering your own work. With training, be that as it may, you can turn out to be more receptive to remembering them. c.â Telling the peruser what a non-perspective character thought or saw Your perspective character can’t perhaps recognize what another character is thinking or know whether a non-perspective character saw something that the perspective character isn’t ready to see. On the off chance that the perspective character can’t see it or know it, at that point your peruser can’t know it either. On the off chance that you need your peruser to have that sort of bird’s eye information, at that point you have to compose from an omniscient perspective. For instance, if Jennifer is your perspective character and Stefan is a non-perspective character, at that point the accompanying section would be a perspective irregularity: â€Å"Are you serious?† Jennifer inquired. Stefan swallowed.I’ve gone excessively far, he thought, absently focusing on his fingers over the twirly gig his pocket. When you’re altering your novel, you can take a stab at utilizing your statement processor’s ‘find’ capacity to scan for words like: thought taken note figured it out pondered accepted recalled knew investigated reviewed thought of In the event that you need to improve the nature of your fiction, don’t simply evacuate these words for non-perspective characters. Since they’re words related with telling as opposed to appearing, your novel will be better on the off chance that you appear rather than tell (however much as could reasonably be expected). d.â Including things that the perspective character doesn’t notice or can’t see This is fundamentally the same as the point above about non-perspective characters musings yet takes on a somewhat extraordinary structure. In the event that your character can’t see it, at that point you can’t expound on it - that’s the standard you have to consider when you’re altering your work. For instance (the perspective character is Zeke): Zeke slid unobtrusively once more into his seat, not seeing that Mrs. Magnusson had been watching him the entire time. or on the other hand: The transport was packed, yet Zeke figured out how to locate a vacant seat. He slipped his earphones on. Up ahead, the traffic was at a halt because of a multi-vehicle mishap. It’s simple for these sorts of irregularities to go unnoticed, and it takes a prepared eye to spot them. Be that as it may, you could utilize your statement processor’s discover capacity to search for phrases like ‘didn’t notice’ and words like ‘unknowingly’, ‘not realizing’, ‘unconsciously’, etc. e.â Telling the peruser what the perspective character resembles Depicting what your viewpoi

Literature Review Dogs’ Stress Indicators Research - 2475 Words

Literature Review: Dogs' Stress Indicators Research (Essay Sample) Content: Literature Review: Dogs Stress IndicatorsAuthors NameInstitutional AffiliationLiterature Review: Dogs Stress IndicatorsThis literature review analyses existing understandings regarding the various methods in use for studying the stressors affecting various animals in captive environments. The review highlights the various breakthroughs in the field as well as challenges facing both new and existing approaches. In the review, the researcher introduces the findings from various research attempts that analyze various aspects of animal behavior, environmental influences, and enrichment strategies as well as the measurement tools that current approaches find helpful for the purposes of their analyses. This will enable the study to develop a baseline for the subsequent research and enable the inclusion of updated and comprehensive understandings of dogs behavior and the associated methods of influencing alternative outcomes.Environmental Influences and EnrichersRegardless o f the location of their interactions, humans and animals are subject to the environments in which they operate. Bowman et al. (2015) introduce the prospects of the influence that these environments have on animals behaviors, whereby making changes to these conditions also results in variations in behavior. The domestication factor is a primary contributor to the sharing of environments between human beings and animals, which introduces animals such as dogs and horses to living with people under controlled conditions. Here, the issue of control becomes imperative since Elmgreen (2010) notes that the domestic nature of these animals also means that any negative behaviors also have the potential to affect the people in the vicinity as well. To this effect, Douglas et al. (2012) posit that the emotional states of the animals in domestic environments are a vital component of their suitability for their individual roles, thereby necessitating a disciplined approach to understanding and gu iding them for better outcomes. This also lends credence to analyses seeking to enhance the human-animal relationship to improve the latter groups integration into the formers lives while reducing the stressors that can result in conflict.Mendl, Burman, and Paul (2010) posit that understanding animal emotions has ramifications for various scientific fields including animal welfare science, pharmacology, and neuroscience as well as pain research among others. However, the field also has various gaps in knowledge such as in understandings regarding short and long-term emotional states (Mendl, et al., 2010). In light of this, the study of behavior in dogs has the ability to benefit from additional research efforts since as Udell, Dorey, and Wynne (2010) discuss, the responsiveness of domestic dogs to actions by their human counterparts suggests the existence of social cognition capabilities that resemble ours. However, the research notes that the lack of empirical support from addition al studies on the subject as well as the influence of experiential learning can influence the results of an analysis that does not consider these variables (Dantas-Divers, et al., 2011). Therefore, it is imperative for research on the behaviors of domesticated animals such as Canis Familiaris to account for the fact that human actions influence animal behaviors, thereby creating the foundation for evaluative environments with considerations for these human-animal interactions.The environmental factor in analyzing animal behavior paves the way for research by Bowman et al. (2015) which debates the capacity for behavioral adjustment in animals by making changes to their environments. For instance, Dallaire et al. (2011) found that behavioral changes for maladaptive traits in farmed mink showed better results when they targeted abnormal behaviors through patterning. Although the research did find pronounced changes when they used perseveration strategies such as repeated and alternated task frequencies, the environmental variations had fewer benefits for these animals. However, the study also acknowledged that the captive environments have varying ramifications for various animals and their disinhibited nature in the presence of humans. Roberts, Taylor, and de Leaniz (2011) also add that other species such as fish also show maladaptive behaviors in the presence of human interventions, whereby the lack of predators in controlled environments can affect their affinity for risk negatively and reduce their chances of survival. This indicates that the human element in animals environments plays a vital role in determining their behavior due to the abstraction from the animals normative environments.As companion animals, there is extensive research on the issues affecting dogs and their domestication. The need for better understandings of their behaviors led scientists to analyze the influence of kenneled environments, with Kogan, Schoenfeld-Tacher, and Simon (2012) po inting out that these confinements result in psychogenic stressors that negatively affect dogs behaviors. Bowman et al. (2015) add that for institutions such as public shelters, the inability to offer individualized treatment to these animals due to funding and practicality issues necessitates the use of rehabilitative strategies that do not place a strain on these resources. Morris, Gradrin, and Irlbeck (2011) also propose that the housing aspect can have a reduced impact on animals behaviors if they have the necessary training and enrichment programs in place to aid in their emotional development. In fact, these benefits are not restricted to the use of these strategies for dogs since as Poessel et al. (2011) note, the addition of environmental enrichments has positive effects on the behavior, reproductive function, and disease prevalence of other animals such as ferrets living outside of their natural habitats. The increasing number of shelter animals leads to a need for better c age-based management strategies, such as the use of operant conditioning to influence positive behavior and allow the provision of adequate care to these animals in confined spaces (Herron, Kirby-Madden, Lord, 2014). Even in non-shelter environments, the need to allow animals to conform to their normative behaviors remains just as crucial. As Herron and Buffington (2010; 2012) highlight in an earlier piece, environmental adjustments can result in positive behavioral modifications for various animals by meeting their needs, such as supplying cats with scratching posts and chew toys to allow them to conform to their natural behaviors. Even for wild dogs, enrichment programs that provide them with play toys, scents, hidden foods, and blood trails allow them to exercise their natural inclinations, which is essential in influencing active behavior (Price, 2010; Pullen, Merrill, Bradshaw, 2010). The results recorded in these and other post-enrichment scenarios indicate that strategies t hat bring targeted changes to animals, including those in confined environments, have the potential to improve outcomes and reactions to stressors for these animals.Anderson, Arun, and Jensen (2010) present the benefits of environmental enrichment programs that focus on habituating animals to continuous interactions with behavioral modification stimuli. As highlighted, the resource allocation directed towards animal rehabilitation strategies means a reduced capacity to develop targeted programs for individual animals. However, the need for long-term solutions requires strategies that can apply to a broad range of cases. Dingemanse et al. (2010) propose that animals individual responsiveness to changes in their environments also means that the positive results of behavioral reforms for one animal do not necessarily mean the applicability of these strategies in all normative scenarios. However, the research also indicates that the application of behavioral reaction criteria can apply across cases, thereby resulting in positive outcomes of different magnitudes depending on the personalities of the animals under review (Salvanes, et al., 2013). To this effect, Overall (2015a) points out that it is possible to influence positive outcomes in groups of animals by exposing them to similar environmental stimuli, thereby facilitating behavioral flexibility on a larger scale even while operating from a basis of minimal resources.Environmental adjustments show positive results depending on the species in question, but Price (2010) notes that the simultaneous introduction of many adjustments has a negative impact on the activity levels of these animals. (Bowman et al (2015) introduce the aspect of behavioral modification through environmental influences that produce positive outcomes in humans, such as the use of music to combat stressors. In support of this approach, Kogan et al. (2012) analyze the influence of various music genres on the behavior of dogs in kenneled envi ronments, whereby they posit that classical music has potential benefits for reducing body shaking in anxious animals compared to heavy metal. Claxton (2011) provides support for this approach by noting that sensory stimuli have a positive impact on the fear of humans that animals have, thereby positing that approaches that focus on enrichment through these avenues also improve the outcomes of future interactions. Moreover, research by Speisman et al. (2013) suggests that the creation of new neural pathways that is inherent to behavior modifications through environmental enrichment also has long-term benefits for the manipulation of animal psychology.Fahnestock et al. (2012) conducted research on environmental stressors in dogs and found that they undergo pathological and behavioral changes that are similar to those displayed by human subjects. The research also indicated that fo...

Comparing F. Scott Fitzgerald and Ernest Hemingway Essay

Comparing F. Scott Fitzgerald and Ernest Hemingway F. Scott Fitzgerald and Ernest Hemingway, though both evolved from the same literary time and place, created their works in two very dissimilar writing styles which are representative of their subject matter. The two writers were both products of the post-WWI lost generation and first gained notoriety as members of the American expatriate literary community living in Paris during the 1920s. Despite this underlying fact which influenced much of their material, the works examined in class dramatically differ in style as well as subject matter. As far as style, Fitzgerald definitely takes the award for eloquence with his flowery descriptive language whereas Hemingways genius†¦show more content†¦Another distinction between the two styles is that Fitzgerald narrated much of what the characters think and feel whereas Hemingway, for the most part with the exception of Soldiers Home, let action and dialogue reveal the storys message. Winter Dreams offers a complete narrati ve of the central characters thoughts from the beginning when Dexters winter fantasies are related to the reader to the end when his image of Judy is shattered and lost youthful passion for life is realized. Even the grief he could have borne was left behind in the country of illusion, of youth, of the richness of life, where his winter dreams had flourished (1519). The exact same is true about Babylon Revisited as in the final paragraph provides a clear view into Charlies mind. He would come back some day; they couldnt make him pay forever. But he wanted his child, and nothing was much good now, beside that fact. He wasnt young any more, with a lot of nice thoughts and dreams to have by himself. He was absolutely sure Helen wouldnt have wanted him to be so alone (Norton Anthology 1511). Now to look at Hemingway, The End of Something reveals the characters through dialogue and it is via this medium that the reader learns mostShow MoreRelated Comparing Hills Like White Elephans by Ernest Hemingway and Babylon Revisited by F. Scott Fitzgerald1562 Words   |  7 PagesComparing Hills Like White Elephans by Ernest Hemingway and Babylon Revisited by F. Scott Fitzgerald At first glance it seems that the two short stories â€Å"Hills Like White Elephants† by Ernest Hemingway and â€Å"Babylon Revisited† by F. Scott Fitzgerald have absolutely nothing in common other than beingRead MoreAnalysis of The Autobiography of Alice B. Toklas and A Moveable Feast1305 Words   |  5 Pagesnaturally, by the perceptions and interpretations of the author. The tendency to take liberty with the truth is often exacerbated when the author of such works has an affinity (or perhaps gift) for the written language, such as is the case with both Ernest Hemingway and Gertrud e Stein, who produced fairly unconventional autobiographical works entitled A Moveable Feast and The Autobiography of Alice B. Toklas, respectively. The proclivity to glorify ones own actions and deeds in effect to make oneself appearRead MoreThe Influence of Realism and Naturalism on 20th Century American Fiction2205 Words   |  9 Pagesmost prolific writers of the Nineteenth-century, used typical realistic methods to create an accurate depiction of changing American life. William Dean Howells, while opposing idealization, made his comic criticisms of society (Bradley 114) by comparing American culture with those of other countries. In his comic writings, Howells criticized American morality and ethics but still managed to accurately portray life as it happened. He attacked and attempted to resolve the moral difficulties ofRead MoreLost Generation vs Beat Generation2771 Words   |  12 PagesComparison between Ernest Hemingway and Jack Kerouac in Context of their Corresponding L iterary Periods Introduction While reading Jack Kerouac’s novel On the Road I have noticed that the author Ernest Hemingway is mentioned quite often in the book. This has raised my interest to focus my research on the following. For the purpose of this paper I would like to take a closer look at Jack Kerouac’s novel On the Road, in context of the Beat Generation, in comparison to Ernest Hemingway, the leader ofRead MoreStudy Guide Literary Terms7657 Words   |  31 Pageschoice of words can have great impact in a literary work. The writer, therefore, must choose his words carefully. Discussing his novel A Farewell to Arms during an interview, Ernest Hemingway stated that he had to rewrite the ending thirty-nine times. When asked what the most difficult thing about finishing the novel was, Hemingway answered, Getting the words right. 37. didactic- Literature designed explicitly to instruct. Teaching or intending to teach a moral lesson. Ex. Fables (tortoise and hare)

The Battle Of Waterloo And Its Effect On Today s Artillery

The Battle of Waterloo and its Effect on Today’s Artillery SSG Aviles-Torres, SSG Blackburn, SSG Letalu, SSG Mageo, SSG Rodgers 13B40 001-18 Senior Leaders Course SFC Metz The Battle of Waterloo and its Effect on Today’s Artillery Napoleon Bonaparte, one of the world’s greatest military strategists, led the French at the Battle of Waterloo. During his time as a General, even in defeat, his tactics in the way he used artillery were beyond reproach. His successes and errors made throughout the Battle of Waterloo had a direct effect on how we use artillery today. The Battle of Waterloo, which took place on 18 June 1815, was the final battle of the Napoleonic wars and ended Napoleon’s reign as emperor. The French marched†¦show more content†¦As the battle went on, the Prussian Army was fast approaching. When Napoleon received word of the impending Prussian arrival, he decided to send 20,000 troops, to his left flank, to intercept the Prussians. Although, this was a sensible approach, it severely weakened the main attack. The French finally push through and took La Haye Sainte (the estate in the center of the Battlefield) but, this would end up being a small victory in a battle that would have an inevitable outcome. The British retreated their men, behind the ridge, in an attempt to hide them from the French viewpoint. The French, thinking they had the British on their heels, sent their elite soldiers (Old Guard) up the middle of the battlefield and over the ridge. Unknowingly to the French, Duke Wellington hatched a plan to hide some of his troops. As the Old Guard begins its assault, of the British center line, they are surprised by British troops lying in wait, on their flanks, in the high corn fields. The Old Guard is routed by three horse batteries attacking their flanks. With the Prussian Army destroying the left flank of the French Army, Wellington sounds the general charge. The charge is successful in pushing back the French lines. Napoleon regroups his Old Guard and orders them to attack. By this time, the Old Guard is down to under 200 men. Once again, Wellington uses his plan to hideShow MoreRelatedNapoleon Bonaparte, A Great Leader, The Politician, Tyrant, Emperor4045 Words   |  17 Pagescivil reforms that other countries could only dream off in matter of a few years, restoring financial stability, reformed the education system, instituted an extensive program of public works, centralized the governmental systems which is still in effect today in France, and settled disputes wi th the almighty Catholic Church, the list of his great accomplishments go on and on. Napoleon was born to Carlo Buonaparte, a Corsican lawyer, and his wife Letizia Ramolino on August 15, 1769. The BuonapartesRead MoreNapoleon De Lafayette, And Alexander Hamilton2178 Words   |  9 Pagesfamous for their own accomplishments, as well as their effect on the world we know today. Some of these famous people in history include Marquis de Lafayette, James Madison, and Alexander Hamilton, these people helped change the world for the better. Marie Joseph Pau Yves Roche Gilbert du Motier, Marquis de Lafayette was born into a family of noble military derivation on September 6, 1757, in Chavaniac, France. Lafayette’s father was killed in a battle during the Seven Years War and his mother died inRead MoreMission Command Analysis of Helmuth Johannes Ludwig Von Moltke2059 Words   |  9 Pageshis army. The First Battle of the Marne, also classified as the most, â€Å"significant land battle of the twentieth century,† impresses one for its scale, decisiveness, and devastating use of rapid small arms fire, machine guns, hand grenades, and artillery. From 5 through 11 September, Germany and France each fielded over 2 million men (British 130,000) between Paris and Verdun. The most modern military technology to date was brought to bear by both sides to terrible effect. During the month ofRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesspread of Homo sapiens from our African cradle to every major area of the planet since 50,000 b.p.. These migratory currents have connected all the continents since 1500 C.E., helping create the political, social, and ethnic landscapes of the world today. Premodern societies were far from static.1 But we cannot project this fact into a history of mobility that is one of simple continuity or gradual change. The conceptual association of mobility and modernity is not just a teleological assumption

Business Proposal Newly Venture Health Club & Fitness Business

Question: Provide a business proposal for newly venture health club and fitness business. Answer: Introduction The fitness business and health club industry is mounting in the present day context. For creating a new business venture, management needs to evaluate every aspect of the business. Nowadays, the concept of venture and merger is widely used by the companies globally to achieve competitive advantages (Barrow, Barrow Brown, 2012). The main objective of the paper is to provide a business proposal for newly venture health club and fitness business. The proposal contains business plan, which helps to identify the major aspects that it will focus to generate income and how will it reach to the targeted customers. This further aims to provide analysis of the fitness market. Based on the analysis, it will focus on formulating a business plan that comprises financial plan for the new venture, period to make profit as well. The paper summarizes the vision, mission, and the objective of the business proposal. The paper will focus on providing an effective plan that will help to achieve certain target and generate profit from the investment. Summary In the present day context, the fitness industry is in the growing phase. Every people are concerned about his or her health, as it is a significant part of ones life. In the present scenario, people mainly focus on maintaining and presenting them to look pretty and handsome. Additionally, in this busy world, people are maintaining their health through exercises to live healthy normal life. Hence, people joined health club to do exercise, which leads to better and healthy life along with attractive personality. The economic theory has been the motivational factor for the entrepreneur. In the present day context, the health care industry has lots of opportunities (Barrow, Barrow Brown, 2012). Vision: our vision is to develop as a leader in the fitness industry Mission: we committed to provide exceptional physical education training to serve better to the client, which leads to their healthier life Objective: our main objective is to grow sustainably in the health club industry Rationale: our core values and underlying principle is to develop community by providing training, and education relating to health Business Model The targeted customer of the enterprise will be the local resident near to the centre. The company will segment its customer from the age of 17 to 35 years. The company will be targeting both the male and female customers equally. The company will generate its revenue from the monthly charges and the initial admission fees. Additionally, the company will be selling some products such as protein powders, supplementary products, and milk packets among others. These will help it to generate revenue and earn considerable profit. The company will be creating value to the customers by collaborating fitness centre with the health club. Additionally, the company will be introducing a diverse range of advanced fitness equipments to meet the demand of its clients. The company will be providing proper training to its staff for providing quality guidance to the clients. The company will offer extensive range of services including, sauna, steam bath, yoga, spas, meditation, gymnasium, and massage . The company will also be focusing on introducing health related programs to aware people regarding the importance of health in this busy world (Burns, 2014). Figure: Business model CANVAS Source: (Burns, 2014) Market Analysis The market of fitness and health club is in booming phase. The member of UK health club and fitness industry increased to 1.5 million. Additionally, the proportion of the fitness members as compared to the population in UK was 1:8. The UK fitness industry has developed with the increased number of health clubs. It was notable that the UK fitness market has a growth rate of 5.4% in 2015, which is considerably high to the value in 2009 that was 2.4% (The Leisure Database Company Ltd, 2015). The growth was largely due to the low cost private sector fitness centres and health clubs. Since 2009, the fitness industry demand has increased by 3.6% (The Leisure Database Company Ltd, 2015). The fitness centres and health clubs are mainly focusing on urban places, wherein the population is larger than the rural areas in UK. The fitness and health club market has been fully dependent on the health of the UK customers. Estimations revealed that financial cost of obesity in the UK is 5 million pou nd in a year (The Leisure Database Company Ltd, 2015). Additionally, a large number of people from UKs population are physically inactive. The health club and fitness market has been facing a tough condition during the last three decades, as the customer has been facing relatively low disposable income and high inflation. Hence, by understanding the complexity of their concerning health the UK population has understand the importance of physical exercise (The Leisure Database Company Ltd, 2015; WTS International, 2013; WTS International, 2015). PEST analysis helps to know the current market situation and the factors that influencing the business venturing. PEST Analysis Political The health care industry has to deal with certain local laws and regulation. The taxes related to the fitness and health care can affect the cost and business risk. The political policies regarding the health club has been the major concern for opening new venture. Economical The healthcare industry has significantly influenced by the economical factor. Growing inflation, low disposable income remains a major factor for the industry to achieve growth. Social The attitude, option that the society provides to the consumers affects the industry. The demographics such as age, income, gender have focused on improving their health issues. Technological The health care industry has been experiencing the technological development from past few years. The use of advance technology such as interactive personal station, online facilities, music system has provides the industry a new edge. This technological development helps to attract more customers to live a healthy life. SWOT Strengths The main strength involve the well-trained staffs which provide our company competitive advantages. Additionally, the price strategy provides the company a good brand image. Weaknesses The company lack adequate financial support to compete in the health care market Opportunities The new venture will provide an opportunity to raise fund. The growing market of healthcare industry has remained a major opportunity for the company. Threats The growing competition of the high quality health club services providers has been its major threats. The high cost due to the legislation and taxes has also its threat. From the PEST and SWOT analysis, the venture can use opportunity to support the business plan. The form of business would be partnership, as the company is approaching to establish a new venture with fitness business. The company is already into a health club business and planning to venture with a fitness business, so the new venture business would be starting from the zero level or De novo. The business will be dreamer that has low risk and high innovativeness. Start-Up Capital The cost that will require for the start-up of new venture fitness centre and health club is approximately 70,000. The investors will provide approximately 50,000 and the rest amount of 20,000 will come from loan. The start-up costs include infrastructure development, employee cost, equipment cost, promotion, and others (Barrow, Barrow Brown, 2012). Start-up investment Investors contribution 50,000 Bank loan 20,000 Total investment required 70,000 Assets Non cash Assets 0 Cash requirement 5,000 Additional cash 0 Cash balance 5,000 Liabilities Current borrowings 0 Long term liability 20,000 Outstanding payable 0 Other current liabilities 0 Total Liability 20,000 Figure: Forecasted Balance Sheet The start-up expenses of the proposed venture will involve legal and licensing expenses, wherein the company will be allocating 1500. Stationary expenses involves towel, water bottle among others, wherein the company will allocate 1000. The company will be distributing 9,500 for the rent. Additionally, for the insurance the new venture will assign 5000. The main investment for the venture company will be the investment of equipment. For the equipment, the company will be allocating 25,000, as the focus of the company will be to provide superior customer services with advanced equipment. The company will be assigning 10,000 for the leasehold development. For the maintenance purpose, the company will distribute leasehold of 6,500. For the utility expenses, it will spend 5500 and other expenses will be of 6000. Timeline for Making Profit The company should focus on obtaining its customer from the first month of its business operations. In the first month, the company will attempt to generate revenue of 20,000 from its customer. Figure: Sales Forecast of First Twelve Month Figure: Sales Forecast of 5 Year Sales forecast reveals that the company will be generating its income from the beginning of the fourth year, as in the fourth year the company will be in break-even point, where the cost and revenue will be equal. By providing the high quality services with the advance equipment, the company will be able to generate revenue from its customer (Burns, 2014). By considering the sale forecast, and determining the possible break-even point in the fourth year, it is necessary to convey to the manager of the bank that the complete loan amount will be paid at the end of the fourth year. Conclusion From the above proposal, it is clear that the company needs to evaluate all aspect of internal as well as external factors such as partners, the activities that the company will perform while implementing the business plan, the budget allocation and the key resources that the company will utilise. The business proposal provides the insight of the fitness and healthcare market. It also provides the timeline for the profit making. Based on the sales forecast, it clearly identifies that the company will be generating profit from the 4th year of its operations. Thus, it is recommended to the investors to invest in the business that will derive above 10% interest on the investment amount. This business proposal will provide the company wide information about the budget for introducing the new venture business. The business model CANVAs will help to know the revenue generation mechanism for the company. The paper shows the analysis of the business model that helps to evaluate the value pro position for the proposed venture. References Barrow, C., Barrow, P. Brown, R., 2012, The business plan workbook. Kogan Page Publishers, London. Burns, P., 2014, New venture creation: a framework for entrepreneurial start-ups. Palgrave Macmillan, USA. The Leisure Database Company Ltd 2015, 2015 state of the UK fitness industry report published yesterday, viewed 26 January 2016, https://www.leisuredb.com/blog/2015/6/19/2015-state-of-the-uk-fitness-industry-report-published-yesterday WTS International, 2013. Health Club Management Handbook 2013. Start A New, pp. 1-236. WTS International, 2015. Health Club Management Handbook 2015. WTS International, pp. 1-260.

Plastic Surgery Gone Wrong free essay sample

Abstract Throughout the paper a complete argument as to why people should not get cosmetic surgery will be explained. Starting with the history of cosmetic surgery and why it is around, leading into the basis of the argument and an explanation of the definitions that need to be defined. After the basics then there will be a case study that goes into the different types of dangers that occur from different types of cosmetic surgery (another definition for plastic surgery). Finishing the paper with statistics and one more case study that will further explain the point of why others should avoid having their body altered. All the history and background information comes from different history sites, the dangers and statistics come from medical sites and the cosmetic surgery gone wrong stories come from different news papers in the last six years. Cosmetic Surgery Gone Wrong The human race has an unrealistic expectation for physical perfection. We will write a custom essay sample on Plastic Surgery Gone Wrong or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Physical perfection is that model we see in the magazine or the actors that are on the television. Physical perfection is never having a blemish, or bad hair day, or being over a size six. Physical perfection is never having a scar, until you go under the knife and that hope for physical perfection is destroyed by the scar that is always left. Cosmetic surgery has been around for hundreds of years, through ancient times, the middle ages, the renaissance, and through the world wars. The only things about cosmetic surgery that have changed are the ways surgeons go about doing the procedures (Beautiful Body: A History of Plastic Surgery). Cosmetic surgery, things like, Botox, breast augmentation, nose jobs, liposuction, and face lifts, might sound good in theory, but in reality the risks of going under the knife far outweigh the rewards. Cosmetic surgery should not be an option to everybody, but only an option in very severe cases. To explain, medically necessary cosmetic surgery should be allowed. What constitutes as medically necessary are cases like burn victims, health issues occurring due to large breasts, and accidents that leave people with mutilated faces or other parts of the body. What should not be allowed is elective surgery, which is what people who want to get nose jobs or face lifts and Botox get just because they think it will make them achieve that idea of physical perfection. One of the most recent cases of an extreme cosmetic surgery disaster was back in June of 2011. A woman named Maria Shortall died in Weston, Florida after a liposuction procedure went in an unplanned direction. The procedure caused 22 different incisions and the woman was, for the most part, in a very healthy state, she should not have died at the age of 38 years old. As a result of this woman’s death, her daughter lost a mother, and the lives of a lot of people were altered because of a minor surgery that was not necessary and could have been avoided (abc News). Besides death, there are numerous different risks to having a cosmetic procedure done. The most common risk to cosmetic surgery is scarring. When you go to have a major procedure done, you are going to have a scar, this happens because you are having a knife cutting up your skin, and it will not heal all the way. Another risk to having a procedure done is a chance of getting seromas. Seromas is defined as the accumulation of tissue fluid, instead of blood. Also, infection is quite possible after getting surgery done. The hours after the surgery, your body is more open to getting infections since your it is left exposed from the wound, and bacteria is able to get in through the wound easier. Other possible risks of getting cosmetic surgery can include bleeding, necrosis- the death of tissues-, nerve damage, and there is also a risk of having a bad reaction to the anesthesia after the surgery or during (buzzle. om). In March of 2007, a middle aged woman, named Kay Cregan died of complications from having a face-lift and a nose job done at the age of 42 years old. Cregan was said to look older than her real age, and it was making her lose her self confidence and decided to fly into New York to have a face-lift and nose job done to help her look older. She ended up not making it through the surgery and never returned home to her family (Daily News: From dream to nigh tmare: Cosmetic surgery disasters). Besides the physical risks of undergoing cosmetic surgery, there are still emotional and mental risks. Depression plays a major role in cosmetic surgery. People have this preconceived idea that having cosmetic surgery will help them to give them the look that they have always wanted, and when they go through the surgery, they go in expecting way too much. If the surgery goes wrong, and things do not go the way the patient expects them to go that patient can then slip into depression (Business and Health: The Dangers of Plastic Surgery). Along with depression, people, mainly women, become addicted to plastic surgery. According to Yahoo! Voices, two-thirds of plastic surgery patients are repeat patients that come in more than once to have more work done. Women become obsessed with having the perfect body and they continue to find things to operate on repeatedly, and a lot of these people are said to have body dysmorphic disorder which makes that person think that they are ugly (Yahoo! Voice). Social factors can help to enhance a person’s addiction to surgery. Young women see on television all the time that these beautiful people are having cosmetic surgery done, and they think that since these seemingly beautiful women who are famous are getting it done, then that must mean that they are not good enough and need to get the surgery done as well (treatment4addiction. com). Michael Jackson, one of the most famous men to walk the plant in the 20th century, is a huge example for addiction to plastic surgery. Michael Jackson had an addiction to getting cosmetic surgery and had his nose worked on numerous times until there was barely anything left and had to get something new completely designed (People. Inside story: Michael Jackson’s Plastic Surgery). Taking a chance with cosmetic surgery can lead to a number of different disasters. Why would you want to take the risk if it is not necessary to? Love yourself the way you are, and embrace the person you are. You do not need to live up to that idea of physical perfection. You do not need to be that model in the magazine or the actress on the television. Cosmetic surgery is a major risk if it is not medically necessary. Love your life enough to want to protect it.

The elite essays

The elite essays The strongest arguments for this statement are that about 10% of people own 90% of the wealth in the US, as the definition of elitism states The view that the United States is essentially run by a tiny elite (composed of wealthy or well-connected individuals ) who control public policy through both direct and indirect means.Another strong argument is that why do only rich persons get nominated or even have a chance to hold a high political position, you never see a person that doesnt have a lot of money running for president or if you do they will eventually drop out because of lack of funds, this proves again that money is the answer for everything. I agree with the statement because its true that our government only represents the rich and well connected rather than the poor and needy, our government rarely looks out for the poor. Instead of giving tax breaks to the poor, our government makes the rich richer and the poor poorer. Well, its obvious that the government is going to h elp out the rich first because they are the ones that help them get elected and once there in office they feel obligated to pay them back however they can and without thinking about anyone but their own well being. One good example that our government represents the privileged few rather than the needy many were in the 2000 presidential elections. If George W. Bush had not been the son of a former president and the brother of the governor of Florida, there is no way he would be our president. Since former presidents get to know a lot of people and help many of them when they need help it is often given to them by the people they helped in the past. I think the laws should be changed so that everyone has an equal opportunity of achieving success, regardless of how much money they have or whom they know and instead it should be on the basis of how capable they are of the job and their level of knowledge, this wa ...

Personal statement Example | Topics and Well Written Essays - 250 words - 8

Personal Statement Example I joined the National Academy of Public Administration in Viet Nam for a Bachelor of Public Administration in 2006 to help attain this dream. In the same year, i undertook a course in computer programs to help sharpen my computer skills. It was during this period that my communication skill, interpersonal skills and research skills were enhanced. I learned to conduct research, train new comers, solve office and technical problems as well as organize for volunteer activities. This greatly exposed me to both the internal and external environment thus helping me adapt and manage the pressure from both. Not only that, it equipped me with good interpersonal skills and helped me to integrate with people from all over the world, thus I learned to appreciate the various cultures and practices. I gained various honors and prizes that helped me to venture in various activities like in martial arts and in research. I was the class president, which equipped me with leadership skills. La ter, I joined Texas A&M University – Corpus Christi, U.S for a Master of Business Administration and Master of Accountancy to increase my knowledge. The campus is great and through it am improving greatly I now chair the organization for Viet Nam students and take part in research. My intent is to reach higher goals and attain good grades and so set an example to the rest of my peers. It is for this reason that I seek to study in your campus under the scholarship program as it will not only fulfill this dream, but it is also better equipped with the right material for my course. The scholarship will fulfill my dream of a better campus besides providing a good and conducive environment to better my career. I hope that my request will be

The Katrina response and relief efforts Essay Example | Topics and Well Written Essays - 1250 words

The Katrina response and relief efforts - Essay Example There are several cases illustrating failure to respond effectively to mitigate the damages to life and limb of Hurricane Katrina. New Orleans was poverty stricken and at least 120,000 people where without mobility. The mandatory evacuation issued on August 28 by the local officials also made no provisions for helping in evacuating the homeless, sick, carless, elderly, infirm and low-income residents. New Orleans disaster plan called for the mayor to make use of the city school buses to evacuate residents unable to leave on their own but the city never deployed the buses and was subsequently destroyed in the flooding. Amtrak also ran a special schedule to move equipment out of the city but the government declined to take the offer of this agency to take several hundred passengers instead of the scheduled equipment. Evacuees were sent to Louisiana Superdome but the large multitude of refugees was more than overwhelming to volunteers. There were not enough provisions for food, clothing and medicine. While the Federal Emergency Management Agency did indeed provide supplies, the unexpected number of evacuees rapidly depleted the provisions. (Nates & Moyer, 2005) There was visibly an ineffective mechanism in coordinating and managing the evacuation process as the governing agencies failed to respond and implement the provisions in the disaster plan that was available to them. 2)Discuss the reasons why the examples you cited above were or were not successful. Comment specifically on whether you believe that the organizational structure at the City of New Orleans, State of Louisiana, and the Federal government was adequate, including communications, command, and control. (Please refer to the Organization Structure for... Hurricane Camille which battered Louisiana, Mississippi and Alabama already demonstrated the vulnerability as did the documentary made by the National Geographic in October 2004 and Scientific American in 2001. What is profound is that when we review other articles, we find one common thread and that is the fact that the disaster was expected though many people did not give enough attention to what mechanisms should be installedHurricane Katrina revealed several interesting individual and community behavior during and after the occurrence of disasters. While many articles were concerned on race and looting issues, it was found that social networks play an important role during the fight to survive the disaster. According to a combined study from the University of Alabama and University of California, it was found that decision-making processes are greatly influenced by social networking. In a survey of 116 evacuees, it was found that it was the social networks that greatly influenced the respondent’s evacuation and planning activities. The role of the media was found to be less important as what many people perceive. Interviewed evacuees state that they became more aware of the severity of the situation as word spread through their social circles. Friends, classmates, neighbors and other acquaintances who gave them information enabled them to prepare more than what they would have from the information they get from radio and television.

Ethics In Education Essay Example for Free

Ethics In Education Essay Abstract Education has ever been considered as one of the strongest foundations for any civilized society. The success of any Nation is largely attributed the way in which education system is built up. There is growing importance the world over these days to incorporate importance of ethical standards in education. Ethical standards in education contain basic principles, procedures and behavior patterns based on commitment to core values that are deeply rooted in education. An ethical education will pave a way to uplift educational standards which in turn will instill right values among students who will certainly create landmark in their career as well as life. ETHICS IN EDUCATION The Concept Of Ethics The definition of ethics is shaped by personal, societal and professional values, all of which are difficult to specify. Some stress the importance of society’s interests and others stress the interests of the individual. These conflicting viewpoints have dominated the discussion of ethics for a long time and may remain in the future as well. Thus, the term ‘ethics’ will have to be defined in this context. The word ‘ethics’ is derived from the Greek word ‘ethos’ (character) and Latin word ‘moras’ (customs). Taken together these two words define how individuals choose to interact with one another. Thus, ethics is about choices. It signifies how people act in order to make the ‘right’ choice and produce ‘good’ behavior. It encompasses the examination of principles, values and norms, the consideration of available choices to make the right decision and the strength of character to act in accordance with the decision. Hence, ethics, as a practical discipline, demands the acquisition of moral knowledge and the skills to properly apply such knowledge to the problems of daily life. Philosophical Theories of Ethics Decision making based on intuition or personal feeling does not always lead to the right course of action. Therefore, ethical decision making requires a criterion to ensure good judgment. The philosophical theories of ethics provide different and distinct criteria for good, right or moral judgment. Three prominent philosophical theories of ethics are utilitarianism, rights and justice. They are normative theories of ethics, which provide a principle or standard on how a person ought to behave towards others by considering the right and wrong of an action. These normative theories are divided into two broad classifications, consequential and non-consequential. Consequential theories define ‘good’ in terms of its consequences, and a best known example is theory of utilitarianism. In contrast, non-consequential theories define ‘good’ not by its consequences but by its intrinsic value and the best known examples are the rights and justice theories. These theories are described below. (a) The theory of utilitarianism According to this theory, the ethical alternative is the one that maximises good consequences over bad consequences. Jeremy Bentham, who is considered as the father of utilitarian ethics, defines utilitarianism as the greatest happiness principle (the principle of utility), which measures good and bad consequences in terms of happiness and pain. He wrote as follows in his book ‘An Introduction to the Principles of Morals and Legislation’: Nature has placed mankind under the governance of two sovereign masters, pain and pleasure. It is for them alone to point out what we ought to do, as well as to determine what we shall do. On the one hand the standard of right and wrong, chain of causes and effects, are fastened to their throne. They govern us in all we do, in all we say, in all we think. The terms ‘happiness’ and ‘pain’ have broad meaning and encompass all aspects of human welfare, including pleasure and sadness, health and sickness, satisfaction and disappointment, positive and negative emotions, achievement and failure and knowledge and ignorance. Applying the utilitarian principle is a procedural process involving five steps: (1) Define the problem; (2) Identify the stakeholders affected by the problem; (3) List the alternative courses of action for resolving the problem; (4) Identify and calculate the short- and long- term costs and benefits (pain and happiness) for each alternative course of action and (5) Select the course of action that yields greatest sum of benefits over costs for the greatest number of people. Thus, ethical conduct by accountants based on this theory leads to consideration of all possible consequences of a decision for all parties affected by it. This theory takes a pragmatic and common sense approach to ethics. Actions are right to the extent that they benefit people (i.e. actions, which produce more benefit than harm are right and those that do not are wrong). Thus, the cognitive process required for utilitarian decision making appears similar to the cost-benefit analysis that is normally applied in business decisions. However, there are important distinctions between the two concepts in relation to the nature of consequences, the measurability of the consequences and stakeholder analysis. (b) The theory of rights The theory of rights stems from the belief that people have an inherent worth as human beings that must be respected. Therefore, according to this theory, a good decision is one that respects the rights of others. Conversely, a decision is wrong to the extent that it violates another person’s rights. In general, the rights can be divided into two categories: (1) natural rights (rights that exist independently of any legal structure) and (2) Legal rights and contractual rights (rights that are created by social agreement). The natural rights are commonly known as human rights or constitutional rights. Among many natural rights, the right to the truth is important to the function of accounting. The users of financial statements have the right to truthful and accurate financial information when making choices on alternative investment strategies. This right imposes a moral obligation on the accountant and the reporting entity to prepare and issue, true and fair financial statements. On the other hand, legal and contractual rights are important in the accountant-employer and the accountant-client relationships. These contractual relationships mean that employers and clients have a legal right to expect professional and competent service from the accountants. In turn, the accountants have a corresponding legal duty to perform their tasks to the best of their ability within the constraints of their expertise. (c) The theory of justice Understanding this theory requires understanding various notions of justice. Generally, justice is described as fairness, which refers to the correlation between contribution and reward. However, fairness alone cannot define the term justice. There are also other forms of justice, which include equality (assumes that all people have equal worth), procedural justice (concerns with due process) and compensatory justice (addressed the loss from a wrongful act). However, a comprehensive theory incorporating these various domains of justice has yet to be developed. Thus, the focus of this paper is on the theory of justice, which is based on the principle of distributive justice. It focuses on how fairly one’s decisions distribute benefits and burdens among members of the group. Unjust distribution of benefits and burdens is an unjust act and an unjust act is a morally wrong act. Hence, under this theory, an ethical decision is one that produces the fairest overall distribution of b enefits and burdens. Ethics In Education Basically there are three parties involved in ethical education system namely students, teachers and administrators. Teacher, being the most important facet of ethical education, is the torch bearer to the change the whole scenario of education system. He is the one who could exemplify his ethical behavior in front of students. Students most of the time learn their behavior from their teachers. Right approach of teacher to teach the students inside the class room will make ever lasting impact on the minds of students. It goes without saying that the principle of ethical conduct lie at the core of teaching profession. The whole society can be remolded by administering ethical practices. Secondly, the responsibility for promoting ethics in higher education lies with the leadership of colleges and universities. Like most efforts at organizational change, the energy, financing, and inspiration must start at the top and must anticipate and verbalize a long term commitment to ethical goals . â€Å"Bottom-up† schemes for change are seldom successful since they lack the organizational influence to create a sustained, well supported plan of action. Ethics issues permeate every aspect of university life from admissions to the classroom, from hiring to curriculum development and from research to the athletic field. To alter the ethics culture in an institution of higher education (or any organization) requires the highest level of commitment and realistic consequences for deviations. (a) Verbal and written commitment of the university president/chancellor, board of trustees, alumni association, faculty and staff to the implementation of an ethics plan of action; (b) Verbal and written commitment of departments heads overseeing student recruiting and admissions policy to an ethics plan of action for their areas of concern. Some possible action items might include advertising that the student body is governed by a â€Å"honor code†, the violation of which could lead to disenrollment. The hallmark of the admissions policy would focus on the ethical selection of students to include cultural difference, gender and racial equalities, socio-economic factors, as well as, academic excellence. (c) Faculty hiring guidelines that would include a thorough â€Å"vetting† of the applicant’s qualifications and background as well as a written commitment by the applicant to fully support the ethics initiative; (d) Faculty members to commit to and undertake curriculum revisions that would include the ethical aspects of their particular discipline; (e) Students to commit to a dormitory, fraternity/sorority, off-campus life-style code ethics; (f) Faculty members to commit to ethical guidelines for the research into the publication of scholarly materials; (g) Faculty members to commit to a faculty-faculty, faculty-student ethical relationships guideline. Lastly, students are also expected to contribute maximally by behaving honestly to their work, duties and responsibilities. They should never restore to any malpractices during examination or any class work. Conclusion The writer has reviewed just a fraction of the literature available on the subject of ethics in the workplace. The literature for the most part, supports the notion that the ethical behavior is good, that ethical behavior is needed in the workplace, and that progress is possible in raising men and women above their more prurient interests. Based on the writer’s experience and discussions with university leaders, however, the notion of total commitment by all stakeholders as outlined in the sample plan is probably unlikely. Cries of academic freedom, unreasonable restraints and loss of flexibility would be echoed from the â€Å"bell towers† of academia in spite of the intrinsic â€Å"good† intentions of the plan. All this does not augur well for the â€Å"fast track† implementation of ethics at the university level or in the workplace. Instead, progress in changing individuals towards a more ethical vision of their personal and professional life will be a p lodding effort, characterized by small successes and small failures for a long time into the future. References American Institute of Certified Public Accountants (2010). The Code of Professional Conduct. Retrievedfromhttp://www.aicpa.org/research/standards/codeofconduct/downloadabledocuments/2010june1codeofprofessionalconduct.pdf Audi, R. (2007). Can utilitarianism be distributive? Maximization and distribution as criteria in managerial decisions. Business Ethics Quarterly, 17(4), 593-611. Baiman, S. Lewis, B. (1989). An experiment testing the behavioral equivalence ofstrategically equivalent employment contracts. Journal of Accounting Research, (27)1, 1-20. Bazerman, M.H. Banaji, M.R. (2004). The social psychology of ordinary ethical failures. Social Justice Research, 17, 111-15. Bentham, J. (1843). The works of Jeremy Bentham. Edinburgh, Scotland: John Bowring. Bird, F.B. Walters, J.A. (1989). Moral muteness. Californian Management Review, 73-88. Brenkert, G.G. (2010). The limits and prospects of business ethics. Business Ethics Quarterly, 20(4), 703-9. Burton, B.K. Goldsby, M.G. (2009) . The moral floor: A philosophical examination of the connection between ethics and business. Journal of Business Ethics, 91, 145-54. Caldwell, C. Clapham, S. (2003). Organizational trustworthiness: An internationalperspective. Journal of Business Ethics, 47(4), 349-64. Caldwell, C., Hayes, L.A., Long, D.T. (2010). Leadership, trustworthiness, and ethical stewardship. Journal of Business Ethics, 96(4), 497-512. ETHICS IN ACCOUNTING 30 Caldwell, C. Karri, R. (2005). Organizational governance and ethical systems: A covenantal approach to building trust. Journal of Business Ethics, 58(1), 249-59. Calhoun, C. (1995). Standing for something. The Journal of Philosophy, 92(5), 235-60. Carlopio, J. (2002). The best articles about leadership from the last ten years. BOSS Financial Review, 71-4.

Catch 22 :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Catch-22 by Joseph Heller is an interesting novel in the fact that throughout the entire novel the plot seems to go nowhere. It just seems to be a bunch of events strung together through the main character Yossarian. These events, however powerful, don’t seem to lead to much of a point, until the reader finishes. Then, out of nowhere, comes the meaning behind the book. Heller does a great job of ending the book. By having Yossarian run away the meaning of the book is set in stone. Catch-22 is a novel which discusses the fact that the importance or value of one thing to one person, could be completely different to another, like in the cases of selling goods over human life with ex-P.F.C. Wintergreen, Milo Minderbinder with his wheeling and dealing and Doc Daneeka and his description of what it takes to get home. Each character in the novel seems to have a certain way in which they judge their power, importance, worth and/or duty. Throughout the entire book, the only character that resembles someone with good opinions of himself is Yossarian. He appears to be the only character that realizes the insignificance the war effort is because almost all the people in the novel are fighting for the wrong reason. He says, â€Å"Am I supposed to get my ass shot off just because the colonel wants to be a general?†. Other characters, like ex-P.F.C. Wintergreen respond to questions with answer that seem to make no sense. In the case where Yossarian is requesting that Wintergreen get them off the flight to Bologna because they will probably die, Wintergreen comes back with the unbelievable answer â€Å"Then you’ll have to be killed. ...if your destined to be killed over bologna, then you’re going to be killed, so you might just as well go out and die like a man. I hate to say this, Yossarian, but you’re turning into a chronic complainer†. The importance of life is gone. Ex-P.F.C. Wintergreen is more concerned about peddling his goods throughout the war then he is about the life of a friend. Another strange character in the story was Milo Minderbinder. The person originally brought in to run the mess hall, who later had his own business, M & M Enterprises, in which he traded things in order to gain stuff for himself. He collected stuff, like art and sculptures, that would be really valuable after the war. The only problem with this, is that it got to the point that he would trade things valuable to the

Financial Planning (Insurance) Case Study Essay

Allison has recently been promoted by her employer, Best Marketing, and now earns $135,000 p. a. working full time. She has commenced salary sacrificing 30% of this amount into superannuation, and her employer contributes Superannuation Guarantee Contributions of 9% of her remaining cash salary. The fund is a balanced growth retail superannuation fund, MM Superannuation. Her current balance is $160,000 and earns on average 7% p. a. after fees and taxes. She also has $100,000 in term life and TPD insurance cover within her superannuation fund. She drives a 4-year old Land Cruiser that is fully paid for. It has low kilometres and she expects to keep it until she retires. She will then need $30,000 to purchase a new car on top of the trade in she expects to receive from the Land Cruiser. Simon works for Newbold’s Pty Ltd, a company which makes custom furniture. He earns around $45,000 p. a. and intends doing this work for the foreseeable future. He is supplied with a work vehicle and his employer pays his SGC based on his $45,000 salary. Simon has $47,000 in superannuation savings, held within the PP Superannuation Fund. The funds are invested in a balanced/ conservative portfolio with a low allocation to growth assets that earns around 4% p. a. after fees and taxes. They are living on a semi-rural property which is valued at around $750,000, but they currently have a mortgage of $150,000 as a line of credit. They are paying approximately $1,000 per month as interest-only payments. Their other personal expenses are around $40,000 p. a. and they spend an additional $15,000 p. a. on holidays. Aside from private health cover, car, and house and contents insurance, the only personal insurance they have is the coverage provided in Allison’s superannuation fund. They do not have a will or any powers of attorney but they want to ensure they have sufficient money for their grandchildren (now aged 6 and 4 years) to attend university. They estimate they will need to accumulate approximately $120,000 (in today’s dollars) over the next 12 years to pay for this. Allison wants to work for five or six more years and they wish to pay off the remainder of the mortgage over that time. She also wants to increase the amount of money in both her and Simon’s superannuation. When she retires she believes they will need $40,000 (in today’s dollars) for their living expenses in retirement, but Simon intends to continue working part time and estimates he will earn $20,000 p. a. They intend to use Simon’s income to fund any holidays. Aside from their superannuation assets, they have $9,000 in a bank account for emergencies earning 4% p. a. , $15,000 in a term deposit earning 5% p. a. and $12,000 in a cash management account earning 5. 5% p. . They are not happy with the taxation implications of these accounts, as any interest earned on the term deposit and cash management accounts seems to go in tax. You ascertain that they both have balanced risk profiles. Required: You are required to provide written responses to the following scenarios and questions, either in short answer form or using bullet points (or both). The following attachments are included : †¢ Sample Financial Services Guide (Personal Advice) †¢ Sample Fact Finder and Risk Profile Questionnaire †¢ Sample Ongoing Service Options – Establish Relationship with Client You are preparing for an initial interview with Simon and Allison Callahan. a) Give some thought to the sort of things you would cover. Include any legal requirements and other documentation which may be helpful in the interview. For the initial interview with the clients I would cover what Azza financial services stands for, their commitment to the customer and any legal implications, go over the financial services guide (send out with letter before hand) and privacy policy and compliance. I would also make the customers aware that the information they are providing is to be used solely for the purposes of assessing their situation to help them get to a better financial position. I would allow the customers to do most of the talking, recording their responses in a fact finder, and ask the client to complete a risk profile questionnaire to get a feel for what their financial position is at the present, what kind of expectations they have on Azza financial services, how much risk they are willing to take on and if there is anything about their situation that might prevent Azza financial from providing advice to the client. )How might you ask the client to prepare for the first meeting? By sending a confirmation letter indicating how long the interview will likely be, the purpose of the interview and what is the outcome intended, advising the client if there are to be any fees paid, providing the client with a list of documents to bring (eg current insurance policies, sup er statements, current investment schemes, income and expenses, latest tax returns, valuations of assets such as property, bank and credit card statements. ) To establish a relationship with Simon and Allison, what strategies might you use to build rapport during the interview process? †¢ offer food or drink (eg coffee, biscuits, tea, water) †¢ monitor client body language and engage in similar movements to make them feel more comfortable †¢ ask open ended questions to show clients you are interested in the personally and want to hear what they have to say. d)What are the four points you must cover when presenting a Financial Services Guide? Fees and charges = explain what fees might be applicable, including benefits and commissions that could be received by 3rd parties/referrers or product providers as a result of the plan being implemented †¢ Products = outline the features of the products and services being recommended †¢ Complaints Policies and Procedure s = make sure to completely explain the procedures for handling customer complaints †¢ Relationships = explain any relationships which might influence which products are recommended or provided e)List the type of fees you could charge the clients. What are the benefits of explaining these fees to the Callahans? Types of fees which could be charged to the clients if they choose to implement the prepared plan are: plan fees (often charged regardless if plan is accepted), commissions, entry fees, management fees, account keeping fees. The benefits of explaining these fees to the clients are that there will be no nasty surprises and they will know what they are getting themselves into from the start. It also provides protection for the advisor in the event that the client deems something unreasonable. In other words, there will be no misunderstandings about the possible cost of advice. )Nominate the range of financial products and services you will be providing advice in. Name the benefits of explaining these to your clients. The financial services and products which I could be providing advice on range from simplistic things such as bank deposit accounts to general and life insurance, complex and simple investment schemes, general and specialized superannuation schemes, estate planning issues (although a lot will be directed to a solicitor if I am not qualified to provide advice on that particular area, the same goes with taxation). The benefit of explaining these to the client is that they will be more aware of what it is Azza financial services can help them with, and if they will need to be involving any third parties to complete their requirements (eg accountant or solicitor). It also takes away any misconceptions as to the outcome of the advice provided and puts everyone on the same level expectation wise. The clients also may not have been aware of particular products and services offered which once explained may change their needs and requirements which might have not previously been considered by the client. )Outline the three steps your clients should take if they have a complaint or dispute prior to contacting the ASIC. †¢ Clients should first contact their advisor to make sure that their disatisfaction is not due to a misunderstanding or something which can be ammended to their satisfaction. I would endeavour to solve their complaint within 3 working days. †¢ If the clients are still unhappy , they should lodge a formal complaint with the liscensees internal complaints process and allow appropriate time for this to be acted upon. If the clients are still unsatisfied with the outcome they may then contact the Finance Industry Ombudsman Service (FOS) for complaints involving losses of less than $500,000. FOS first trys to negociate and outcome between the involved parties, if this is not possible the matter is passed for formal assesemnt by a panel. FOS is free to clients and the decisions it makes are law to the liscensee. 2-Identify Client Objectives and Financial Situation a) What techniques or tools could you use to gather further information about your client’s goals, objectives and financial situation? Fact finder †¢ Financial documentation – tax returns, statements, scheme overviews etc †¢ Use of open ended questions †¢ Diagnostic questionnaires †¢ Risk profiling b)Using your case study, complete the attached Fact Finder with as mu ch information as you can. Remember that this document is used to collect current information as well as identify any issues, problems or constraints that may be relevant in developing your advice. See Fact Finder i)From the scenario in your case study, write down one or more specific financial goals for the generic needs provided. Wealth creation for a specific purpose |Start increasing Allison and Simons Super balances ($160K and $47K) | | |Pay for grandchildren’s university in 12 years – estimated needed | | |$120K in today’s dollars | |Wealth protection |Take out Personal insurances to avoid eroding savings if something | | |unforeseen happens – income protection, trauma, evaluation of current | | life and TPD | |Debt reduction |Pay off IO mortgage of $150K in 5 years | |Tax minimization |Save on tax on bank accounts/term deposits | | |Possibly downsize family home and move mortgage to investment property| | |to save on tax | |Superannuation |Start in creasing Allison and Simons Super balances ($160K and $47K) | | |and evaluate suitability of current funds | |Investment Planning |Possibly purchase Investment property to produce another income stream| | |and save on current tax | | |Look into other investment options to diversify current wealth | |Estate Planning |Establish will and power of attorney with solicitor | c)Write down a line of questioning that you would use in the initial interview to increase your understanding and obtain further clarification of the client’s goals and objectives. Use open-ended questions starting with What, How, When, Why and Where. †¢ Apart from what we have already discussed, tell me about any other goals, long or short term that you might have. †¢ What do you plan to do when you retire? †¢ What is your current state of health? Eg do you smoke, are you aware of any issues that could affect your ability to work? †¢ Simon, what sort of duties do you perform at work? (- for insurance purposes we need to ascertain what type of work Simon is doing in order to now which category he fits, A/B/C? ) †¢ What are the contact details of your accountant? (- Financials) †¢ If you have a solicitor, what are their details? power of attorney, will) †¢ What are your plans/goals in relation to the planning of your estate? †¢ Tell me what other possible financial details you could have overlooked in filling out the fact finder? (- no credit cards? No shares or any investments outside of super and regular bank accounts? ) †¢ What level of cash reserve do you feel comfortable keeping liquid for emergencies, and are you expecting to receive a lump sum of money in the future? †¢ What are the premium details of your current life and general insurance policies? †¢ When are you considering downsizing the family home, if at all? d) What action would you take immediately after the first meeting? Immediately after the first interview I would Clearly write down everything which needs to be investigated or researched, in relation to what types of products, tax issues, possible strategies, the sources of information and a timeline for completion. This is so that I can prove I have been compliant with the corporations Acts requirement of investigating the ‘subject matter of the advice’. I would ask the clients to sign an authority accepting the preparation and research of drawing up a financial plan and agreeing to pay any fee which may be incurred as a result of this advice. e) Simon and Allison have a ‘balanced’ risk profile. Complete the sample Risk Profile Questionnaire to reflect this. See risk profile 3- Analyse Client Objectives & Financial Situation Will Simon and Allison’s current financial circumstances and other concerns meet their objectives without your assistance? a) Why/why not? No, Simon and Allison’s current financial set up is not adequate to allow them to meet their goals and objectives. This is because they are note contributing enough in their superannuation to achieve their desired balances, they do not have any estate plans in place, their current bank accounts are leaving them paying excess tax, they are not sure how to structure their expenses in order to reach a comfortable position upon retirement in 5 years time, and their personal insurance are grossly insufficient to keep them in their current lifestyle and meet expenses should something happen to one of them. ) List the assumptions you made. †¢ Allison and Simon do not have current solicitor whom they have talked about creating a will or power of attorney with †¢ Allison and Simon are of average intelligence and have not had much to do with Financial planning services in the past. †¢ Allison and Simon do not know much about investment schemes, Superannuation regulations, Life insurance or Taxation †¢ Allison and Simon have used an Accountant in the past to prepare their yearly tax returns †¢ The average expected rate of return is 6% †¢ Expected CPI is 3% and current tax rates have been used. c) Reference information sources that you have relied on in forming your view. RG146 training Australia DFS course material and scenario †¢ Australian Taxation Office website (www. ato. gov. au) †¢ Financial Planning association website (www. fpa. asn. au) †¢ Westpac and BT Financial group case studies (internal) 4 – Develop Appropriate Strategies & Solutions a) Describe two research processes you can use to gather information about products and services you recommend to your clients. †¢ Independent research houses (eg Standard and Poors and Morning Star) †¢ Internet sear ches eg ASX, AFPA, ATO etc †¢ Product disclosures, rankings, past performance of companies, Financial review newspaper etc Refer to your case study, Fact Finder and Risk Profile Develop a strategy for each of the following points for Simon and Allison. Describe each of your strategies in terms of key characteristics, advantages and disadvantages. b) Please address Allison’s insurance requirements. Your response should include a brief description of each type of cover and actual amounts recommended. Include calculations and explanations of amounts. †¢ Term Life: – term life insurance provides a bulk payment to the beneificiaries of a person upon their death, or in some cases when disgnosed with a terminal illness the person insured can also received the payment. – offered to people from 16-75 and can renewed until age 99. Can be paid via stepped premiums (where premium increases with age, you pay more in the long run) or level premiums (same amount througout policy, 30% cheaper than stepped in long run, and indexed to CPI) – Advantages of having life insurance are that it gives the insured peace of mind knowing that they are n ot leaving their loved ones in poor financial positions upon their death and ensures they are looked after – Disadvatanges are that there are a few exclusions to the policy such as suicide within first 13 months, War, pre-existing conditions, aids, and terminal illness/disease where it is a direct result from an action which was self-inflicited. – Currenlty Allison has $100,000 worth of life and TPD insurance within her superannuation. In regards to life insurance this is unfortunately inadequate as the estimated living costs for Allison and Simon are $67,000 per anum. In order for Simon to continue meeting these expenses (whilst still working) if allison were to becomed deceased, the insured amount would need to be close to $475,000. This is because if invested at an average fixed deposit rate of 6% it would provide an income stream of $28,500 per anum to Simon. [(475000/100) x 6 = 28,500] – this along with his current net salary of $38490 come to a per anum income strem of $66,990 to meet expenses. An additional $270K should also be added to cover their existing mortgage debt and to have money left over in order to pay for the grandchildrens university education, bringing the total life benefit to $745,000. †¢ Income protection: – A fortnightly or monthly payment paid to the insured in the event that they suffer and injury or illness which leaves them unable to work – Maximum of 75% of income can be insured and person must be employed at least 25 hours per week. Waiting periods of 14-720 dys apply and benefits periods can be 1-65 years (longer the beenfit period the higher the premium) – 2 types of policies are agreed value (specified value to be paid regardless of difference bet ween insureds current and former incomes) indemnity (benefit based on insured income at time of claim. – Advantages are that the insurance provides peace of mind knowing that if the insured was to suffer from an injury or illness and are unable to generate an income that the benfit will be paid as if it were their regular income, giving them peace of mind that they could stay on top of all their financial commitments and goals whilst healing. Disadvantges are that as income protection is linked to employment, those who are unemployed or even those with occupations which are considered too risky are not able to obtain income proteciton insurance. Also, as the benefit is only 75% of income, the insured will be 25% worse off and will need to make sure this will not affect any financial commitments or goals they may have. – Allison currently does not have income protection insurance in place which could end diasterously as she earns 75% of the couples gross income. [(180,0 00/100) x 75 = 135,000)]. Allison should take out an income protection policy with a $101,250 benefit (135,000-25%) which would then provide both her and Simon peace of mind knowing that if anything was to happen they could continue paying their expenses †¢ Total and Permanent Disability: TPD insurance provides a lump sum payment to the insured after a qualifying period (usually six months) when certain criteria is met. – Criteria can be inability to perform own occupation, any occupation, home duties or all duties; these are based on the type of work the insured is in (rated AAA-E) – Immediate qualification for TPD payout if insured looses sight or a limb – Advantages of having TPD is that if the insured suffers a debiltating injury that sees them unable to return to work that they can still meet their expenses – Disadvantages are that it is not available to everyone; a new policy cannot be taken out after 60 and policies already in place automatica lly cease when insured reaches 65. Also unless rated category E, the standard level of cover criteria is ‘any occupation’, meaning that the insured may be able to perform in a role significantly less stimulating, challenging and financilally rewarding which would make them ineglibly to receive a payout even if they suffer a total and permanent diability. – As Allison and Simons expenses are $67,00 p/a and Allisons income protection benefit is $101,250, whilst Allisons still working a stand alone TPD policy would be beneficial for having a lump sum to pay off the exisiting mortgage debt of $150K, have enough money to pay for the grandchildrens university ($120K) and possible medical expenses (another $150K) – totalling a $420K TPD. Another amount for Living expenses should also be considered for the 6 years until retirement ($67,000 x 6 years = $402,000). This brings the total recommended TPD benefit to $822K which could also be bundled as a rider on Allisons life insurance to avoid overinsurrance. †¢ Trauma: – Trauma insurance provides the insured with a bulk payment when they suffer from an illness specified in the policy – Can be bundled with life insurance and a payout will decrease the life policy by the same amount – Available to people aged 16-55, or trauma for children aged 1-12 years ( waiting periods and age limit criteria apply) – Advantages are that as trauma insurance is not related to employment, people with uninsurable occuppations can still generally take out trauma insurance. Also the insurance provides peace of mind knowing that if the isured was to suffer from a specified illness and are unable to generate an income that the sum paid will cover their expenses and ease the financial pressure – Disadvanages are that there are exclusions such as death within 3 to 30 days of trauma event, trauma caused by an ntentional self inflicted injury or attempted suicide and acts of war. – In order to avoid overinsurance Allison should take out around $250K trauma insurance to cover $150K exisiting mortage debt and any medical expenses associated with the event. Allisons Income protection will also most likely be able to contribute towards the benefit amount should a defined event occur. c)Does Simon require personal insurance? If so, what types and how much? Please include reasons and calculations Simon could take out the following polices to provide stability and peace of mind for Allison in the event something should happen to him. †¢ Term Life, Trauma, TPD: As Allisons income (or insurance benefit if something were to happen to her simultaneously) alone can support the couples expenses of $67,000, I would recommend a combined life insurance, TPD and Trauma policy, of $690K for Simon [(salary of $45,000 x 6 years = $27,000) + $150K mortgage debt + $150K possible medical espenses + $120K grandchildrens education = $690,000), so that the mortgage can be paid out, the grandchildrens education can be paid for, any medical expenses which might be incurred can be paid, and a replacement income stream for simon is created leaving allison debt free if something were to happen to Simon. †¢ Income protection: It is my view that Income protection is not necessary for simon as allisons income is more than adequate to support the couple with money left over, however if they did not want to draw on this, an income protection policy could be put in place for 75% of his income. [$45,000 x 75% = $33750 ($33750 / 12 = $2812. 5]. this w ould mean Simons monthly benefit woul be $2812. 5 (75% of his monthly income). D) What is the most efficient way for Simon to contribute to superannuation and why? How much should Simon contribute? As Simon is on the lower end of the income tax scale, it is beneficial for him to make non-concessional contributions into his superannuation as he is eligible for government co-contributions for every $1 he puts in up to $1000. As Allison is on a higher MRT than Simon, if she were to salary sacrifice a larger portion of her income into both their superannuation accounts (shes currently Sacrificing $40,000 into her own, however this could be brought up to $70,000 and then she could sacrifice another $20,000 per anum into Simons in line with their goals of increasing their super balances) they would be paying less tax (as Allison in on the highest MRT and super contributions are at 15%) and they can use Simons income (on lower MRT) to put towards their expenses, thus Simon should not contribute too from his salary above the SG of 9% and non-concessional contributions past $1000 (as his super will be paid in by Allison to achieve the above stated tax advantages). Simon should also switch his investment strategy to a balanced mix as it is too conservative to his risk profile at the present. e)Is Allison contributing sufficient funds to superannuation at this time to meet their retirement objectives? Please explain. To meet their objectives of having $40,000 per anum to live off in retirement, Allison is not contributing enough to her superannuation at this point in time. Allowing for the effects of compounding interest, after 5 years Allison’s superannuation balance would have accumulated to $224,400 (at 7%). In order to provide an income stream of $40,000 Allison will need to bring her balance up to $580,000 by the time she retires in 5 years. This means Allison will need to make up the difference ($580,000 – $224,400 = $355,600) in the next five years. Allison will need to contribute another $30,000 p/a [($355,600/5 = $71,120) – her current Salary Sacrifice of $40,500 = $30,000] to her superannuation to achieve this balance and their retirement objectives. Allisons current total superannuation contributions per anum are $40,500 in salary sacrifice (30% of salary of $135,000) along with a Superannuation guarantee of 9% of her remaining salary ($135,000 – $40,500 = $94,500, $94,500 x 9% = $8505) bringing her total contribution to $49,005. f) Are their additional benefits available to Simon or Allison as a result of your strategies above? By Allison salary sacrificing more of her income she is saving astronomical amounts on tax as the contributions tax is only 15% as opposed to her MRT. As stated previously, Simon will also be eligible for the government co-contributions with his non-concessional contributions. Allison’s income protection policy (and Simons if taken out) are also tax deductible. Simon is also eligible for the low income tax offset of $804 from a maximum of $1350 for income earners of under $30,000. For Simon his amount is worked out with the following calculations: 1. [$1350 – ($45,000 taxable income -$30,000 threshold) x 4% = 546] and then 2. $1350 – 546 = $804) g)What is your recommendation regarding an investment for the grandchildren’s university education? What are the benefits of this investment? For the grandchildren’s education I would recommend investing in a balanced education savings plan (they would need to contribute $7000 p/a (at approx 7%, and with the effects of compounding interest) to reach their goal of $120,000 in 12 years) as the amount invested in taxed at a flat internal company rate of 30% however after 10 years the amounts can be withdrawn for non education purposes tax free, and as the investment is to be over 12 years Allison and Simon could take advantage of this. If it was to be withdrawn earlier, they are still in a good position as the money would be invested with a bit more risk than that of an everyday savings account and the taxation benefits still outweigh other methods, especially with the low income offset which is still said to be increasing. h) Are their bank/cash investments (total $36,000) meeting their requirements? Why/why not? What do you recommend? No, currently these investments are not meeting Allison and Simons requirements as they are held in both names and are therefore subject to Allison’s higher MRT. If Allison and Simon decided to use the advantages provided by income splitting (that is, transferring term deposits and interest bearing accounts into Simons name) then they would save on tax as Simon has a lower MRT. Allison and Simon could also think of putting this money in their Superannuation to capitalize on the 15% contributions tax or putting it into the mortgage as then they are paying less interest, however this would depend on whether or not they would be needing to keep this money liquid for everyday use and emergencies. i) How would you address their goals of paying out their home loan and purchasing the new car upon retirement? In order to pay out their home loan in 5 years time, Allison and Simon would eed to put around $40,000 P/A towards due to interest payable. After Allison’s extra salary sacrificing for both their Super accounts, the couple have around $45,000 surplus disposable income per anum. $40,000 can be used to make these extra payments on the home loan and the other $5000 can be put into a high interest savings account for the 5 years (which if invested at the average deposit rate of 6% will leave them with $29576. 10 after 5 years with the effects of compounding interest) which will leave them with enough money to purchase the new car. j) Are their estate planning preparations adequate? Why/why not? Currently Allison and Simon have no estate plan, therefore it being inadequate. I would recommend to Allison and Simon to contact their solicitor to discuss a will/power of attorney using their information we have uncovered through analyzing their financial situation here today. k)What alternative strategies did you consider? Why did you reject them? Insurance – providing insurances for Simon as well; This would be over insuring and wasting money for Allison and Simon as Simons income in relatively small in comparison to Allison’s, and she is able to cover all costs if something we to happen to Simon. Superannuation – Simon contributing more to his superannuation; the tax benefits of Allison’s salary sacrifice through decreasing her MRT far outweigh that of Simons and it was therefore better to prioritise with Allison’s SS and utilize Simon’s income for expenses. Investments – For the grandchildren’s university education, possibly investing in something more risky (eg shares) or less risky (eg Term deposits) however the tax advantages and return on the educations savings plan in comparison would leave them in a better position. 5 – Present Strategies and Negotiate Solutions Prior to Presentation a)Describe what preparations you would undertake to present your strategies in step 4 to Simon and Allison. After thorough research enabling me to form my recommendations, I would prepare a Statement of Advice with my findings, make sure to gather all product disclosure statements which are relevant, and information to back up my advice. I would also make sure there was a financial services guide within the information I would be taking to the interview. I would then call the clients to arrange a time which suits. b) What back-up information or documentation might you need? I might need to back up the performance of particular products/services I recommend (this could be provided in the form of company reports, asx reports, PDS, articles, academic studies etc) also easy to follow breakdowns of any calculations made so the client can see exactly how the strategy will benfit them. FSG and Privacy policy to assure the client of the companies principles and policies in the event of a dispute. During the Presentation c) Describe the disclosure principles and presentation requirements you must adhere to for the following documents: ? Statement of Advice The statement of advice must have â€Å"statement of advice† written across the front of it, it must be in non complex wording (â€Å"clear, concise and effective manner†), must have a â€Å"generic description of the range of financial products or strategies considered and investigated†¦Ã¢â‚¬ . The customer must receive a copy, along with PDS and FSG and must have signed and had the SOA presented to them BEFORE any implementation of strategies can be put in place. A disclaimer is also usually placed at the bottom of the SOA to protect the financial planner and affiliated companies against the working of case law – althogh this is not required by the corporations act. ? Product Disclosure Statement – The PDS needs to accompany the SOA so the clients have all the information in relation to possible products they are signing up to. Other things which need to be in the PDS include: Fees and charges = explain what fees might be applicable, including ben efits and commissions that could be received by 3rd parties/referrers or product providers as a result of the plan being implemented ? Products = outline the features of the products and services being recommended ? Complaints Policies and Procedures = make sure to completely explain the procedures for handling customer complaints ? Relationships = explain any relationships which might influence which products are recommended or provided d)List 2 objections or concerns your client might raise. How would you address these in order to gain agreement? 1. How do I know that what you recommend will work out for me in the long run? – We have based these recommendations on previous performance of these products and services, all of which you have sighted with your eyes. We cannot 100% guarantee that these potential outcomes listed will occur, however financial planning is what we specialise in and we make it our duty to look after your financial health. If we notice that the course which we have mapped out for you is not heading in the direction we have anticipated, you will be the first to know, and we will review your situation in order to alter your plan to best fit your needs, provided you would like us to provide you with this ongoing service. 2. This plan fee seems overly expensive – why do I have to pay it? – It takes a considerable amount of time, research, investigation and preparation for us to put together a plan that is tailored entirely according to your personal needs. There are no generics or assumptions made with what we are presenting you and the savings and earnings you will make as a result of our guidance will far outweigh the cost of this information. 6 – Implement Agreed Plan Simon and Allison have agreed to your plan. a) What transactional documents/authorities need to be signed by Simon and Allison? †¢ Authority to proceed / SOA and disclaimer †¢ Application forms along with PDS attached †¢ A cheque to be written to accompany application form b) Complete an Implementation Plan, in order, that details your planned actions now that Callahan’s have decided to proceed with your recommendations in step 4, providing an indication of when each must be completed. A – Adviser C – Client | No. Action |Who |When | | |Sign Authority to Proceed |C |Now | | |Provide 3rd parties with adequate notification of actions needed to be taken eg solicitor, accountant |A |ASAP | | |Complete application forms ready for c lient to sign |A |ASAP | | |Present application forms to client with PDS attached to be signed. |A + C |When ready | | |Photocopy, keep one and give other with PDS to client. | | | |Obtain Cheque from Client and attach to application form to be sent to dealer group |A |With step 4 | | |Welcome letter from dealer is issued |A /Dealer |- | | |Secure client file established (maintained for 7 years) |A |- | | |Confirm with clients that they have received welcome letter and they have heard from any 3rd parties. |A |- | | |Speak to clients about Review Service |A |When everything| | | | |is settled | 7 – Provide ongoing service You now have to address the issue of providing ongoing advice to Allison and Simon. )What environmental (economic, market, regulatory) changes, or changes to their personal or financial situation would cause a review of their plan? †¢ Interest rate changed may affect tax advantages, investment earnings †¢ New regulatory changes may grandfather or c ompletely remove current strategies in place †¢ Market booms and busts may cause portfolio mix to be outdated / underperforming †¢ Clients may have suffered a loss, or injury causing them to claim and or need to reassess the financial commitments they can keep up with †¢ Clients may have come into a considerable amount of money unexpectedly allowing for more room to move in current strategy (e. g. inheritance, lotto) Change of advisor may bring upon new light on their situation, may have a better strategy in mind. b)Describe 2 activities you regularly undertake to keep up-to-date with current legal, ethical and regulatory requirements of the finance sector. †¢ Read financial review/finance news, current company legal updates †¢ Read the AFPA reports issued and newsletter from BT financial and liaise with current financial planners c)What level of ongoing service would you propose for these clients? ( â€Å"No service† ( â€Å"Portfolio valuation† ( â€Å"Portfolio review† ( â€Å"Financial Plan review† ( â€Å"Other† – Describe d)Describe the option recommended for your client, and why you have recommended this option. Describe the level of service you will provide and the associated fees. I would recommend an annual portfolio review for Allison and Simon to ensure that they are on track to achieving their goals. This would involve checking balances and fund mixes to ensure adequate returns have been made and that products are performing as anticipated. I would prepare a letter to send out based on my finding advising whether or not a change could benefit them. As the strategies recommended for Allison and Simone are fairly basic a separate fee would not be necessary as this service would be considered to be paid for under the trail commissions. Sample Fact Finder & Risk Questionnaire 1. PERSONAL DETAILS |CLIENT 1 |CLIENT 2 | |Title: |Mrs |Mr | |Given Name: |Allison |Simon | |Preferred Name: |Allison |Simon | |Surname: |Callahan |Callahan | |Date of Birth: |1956 |1958 | |Marital Status: |M |M | | | | | Home Address: |Address: Lot 3 Wattle Road | | | | | |Suburb/Town: Hurstbridge | | |State: VIC Pos tcode: | |Home Telephone No. | | |Preferred Contact No. | | | | | | | | CHILD / DEPENDENT DETAILS Name: |Megan | | | | |Relationship: |Daughter | | | | |Date of Birth: |1981 | | | | |Current Age: |29 | | | | |Financially Dependent: |NO | | | | HEALTH DETAILS Do you Smoke: |Yes / No |Yes / No | |State of Health: |Poor / Good / Excellent |Poor / Good / Excellent | |Are you aware of any health issues that may| | | |impact your ability to earn an income? | | | |(please provide details) | | | |Notes: | 2. EMPLOYMENT DETAILS |CLIENT 1 |CLIENT 2 | |Employment Status: |( Unemployed |( Unemployed | | |( Full Time Employed |( Full Time Employed | | |( Self Employed |( Self Employed | | |( Part-time |( Part-time | | |( Retired |( Retired | | |( Other |( Other | |Employer Name: |Best Marketing |Newbolds Pty Ltd | |Position Title: |Marketing |Employee | |Primary Duties: |Marketing |Custom Furniture | |Work Address: | | | |Current Work Phone No. : | | | |Employment Security: |Secure – just promoted |Secure – intention to stay long term | |Are you Contemplating leaving your employer? |In 5-6 years |Not in the foreseeable future | |Do you foresee any substantial change in |Planned retirement in 5-6 years, possible |In 5-6 years will reduce hours to part time | |your income in the next 2-5 years? reduction in take home pay in the lead up to|– income will be approx $20K p/a | | |this | | |Notes: | | | OTHER ADVISER DETAILS Accountant |Name: | | |Company: | | |Contact Detail: | | Do we have authority to contact? ( Yes ( No Solicitor Name: | | |Company: | | |Contact Detail: | | Do we have authority to contact? ( Yes( No ESTATE PLANNING DETAILS | |CLIENT 1 |CLIENT 2 | |Do you have a current Will? |No |No | |Date of Will / Last Reviewed: | | | |Power of attorney |No |No | |Type / Name of Attorney? | | |Do you have Funeral Plans? |No |No | |Do you have any specific intentions |Intention to pay for grandchildren’s |Intention to pay for grandchildrenâ€℠¢s | |regarding your estate distribution? |university in the approx 12 years (approx |university in the approx 12 years (approx | | |$120K in today’s dollars) |$120K in today’s dollars) | 3. FUTURE NEEDS OBJECTIVE AND GOALS |E. g. Current income needs, retirement income needs, diversification, tax minimisation, capital growth, investment security, wealth creation, | |eliminate mortgage etc | |Reasons for seeking financial advice | |Gain assistance with making the transition to retirement and planning the next five years | | | | | |Short Term (1 to 3 years) | |Save on tax on bank accounts/term deposits through possibly restructure | |Start increasing Allison and Simons Super balances ($160K and $47K) | |Look into other investment options to diversify current wealth | |Medium Term (4 to 7 years) | |Pay off IO mortgage of $150K in 5 years | |Buy new car (through trade in 9 year old land cruiser) worth $30K In 5 years | |Have a $40K (today’s dollars) p/a retirement income stream in 5 years | |Long Term (7 year plus) | |Pay for grandchildren’s university in 12 years – estimated needed $120K in | |today’s dollars | | | | | RETIREMENT PLANNING Retirement Details |CLIENT 1 |CLIENT 2 | |Plan ned Retirement Age: |59/60 |undetermined | |Retirement Income required: |$40K (today’s dollar) |$40K (today’s dollar) | |After retirement, do you intend to work |NO |Expected Income= | |again either on a full-time or part-time | |$20K | |basis? |Till age: undetermined | |What capital expenses will you have in |$ |$ | |retirement? (Please state expense and | | | |value) | | | |Would you like some assets left to your |$ |$ | |estate? Please detail) | | | |Notes: | | | | | 4. FINANCIAL DETAILS PERSONAL BALANCE SHEET Lifestyle Assets | |Owner |Date Acquired |Value |Associated Debt | |Principal Residence: |Allison and Simon | |$750,000 |$150,000 | Contents: | | | | | |Motor Vehicle/s : |Allison |2006 |Land Cruiser |No debt | |Caravan / Boat / Trailer: | | | | | |Investment Property: | | | | | |Other: | | | | | | | | | | | | | | | | | | | | | | | |Total | | | | | Investment Assets Investment | | | | | | | | | | | INCOME DETAILS | |CLIENT 1 |CLIENT 2 | |Income: |$135,000 |$45 ,000 | |Investment Income: |$1770 p/a interest (bank accounts) |$1770 p/a interest (bank accounts) | |Centrelink Income: | | |Pension/Annuity Income | | | |Other Income: | | | | Less Income Tax |$38554 |$7580 | | Less Medicare Levy |$2050 |$700 | |Total Net Income |$94426 |$38490 | |Combined Net Income |$132,916 | EXPENSE DETAILS |COMBINED | | |Food: | | | |Entertainment: |$15,000 | | |Transport/Vehicle: | | | |Council Rates: | | | |Amenities: | | | |Rent: | | | |Mortgage Repayments: |$12,000 | | |Other |$40,000 | | |Total |$67,000 | | SURPLUS DISPOSABLE INCOME | |COMBINED | | |Annual: |$65,916 | | |Monthly: |$5,493 | | PLANNED MAJOR EXPENSES |Nature of Expense |Approx. Expense Amount |Expected Date | |Grandchildren’s university |$120,000 in today’s dollars |12 years | |Purchase new car |$30,000 |5/6 years | | | | | | | | | |What cash reserve do you require for | | | |emergencies or unforeseen expenses? | | | |Are you expecting a future lump sum or | | | |inheritance? | | | |If so, how much? | | |Notes | | | 5. SUPERANNUATION & INSURANCE SUPERANNUATION |Company |Policy No. |Employer/ Personal | |Are any of the above policies preserved? | |No | |Has a tax deduction been claimed for part/all? |Yes |No | |Are there any exit fees applicable? |Yes |No | LEAVE PAYMENTS Type |Expected Receipt Date |Anticipated Amount | |Annual: | | | |Long Service: | | | |Other: | | | |Have you recently received a redundancy package? |Yes |No | |If you have recently received a redundancy package, please provide notice of payments. | GENERAL INSURANCE Insurance Description |Policy Number |Owner |Date Commenced |Sum Insured |Premium Payable | |Term Life and TPD |Allison |$100,000 | | | | | | | | | | | | | | | | | | | | | | | | | |Notes: | | | 6. INVESTOR RISK PROFILE Your attitude to risk is probably the most important factor to consider before investing. To achieve higher returns, you will have to be prepared to accept a higher risk of capital loss. This is because the funds and assets that offer high returns are generally more volatile than those producing lower returns. It is what we call ‘risk/return trade off’. We will recommend investment strategies to match your investments to your risk profile. Investing across the various investment sectors according to your risk profile is called diversification. For example, instead of investing only in property, or only in shares, you might invest a proportion in both, or even include cash or fixed interest to create a balanced portfolio. You are a balanced investor who wants a diversified portfolio to work towards medium to long-term financial goals. You require an investment strategy that will cope with the effects of tax and inflation. Calculated risks will be accepted to help you achieve good returns. 17 – 23 Moderately Conservative – A Low Risk Taker You are a moderately conservative investor seeking better than basic returns, but risk must be low. Typically an older investor seeking to protect wealth that you have accumulated, you may be prepared to consider less aggressive growth investments. 9 – 16 Conservative – A Very Low Risk Taker You are a conservative investor. Risk must be very low and you are prepared to accept lower returns to protect capital. The negative effects of tax and inflation will not concern you, provided your initial investment is protected. 7. CLIENT STATEMENT / AUTHORISATION |I/We herby declare that the information set out in this form is true and correct to the best of my/our knowledge. | |I/We are not aware of any other information and have not disclosed to the person to whom this form is given any other information | |which would be relevant to the making of a recommendation by a Mentor Financial Planning Representative. | |I/We give permission for this information to be used for the preparation of my/our financial plan and I/we understand that the | |investment recommendations will be based solely on the information supplied in this form. | | |I/We also acknowledge that: | |( |I/we have received, read and understood the Financial Services Guide before any advisory services were provided; | |( |I/we permit this document to be passed in confidence to any member of Mentor Financial Planning Pty Ltd; | |( |Lim ited Information Provided | | |I/We have provided limited financial information. I/We have limited the product(s) or objective(s) that can be advised on | | |to: | | |If you are seeking limited advice of a particular nature you must make this known at the time of the interview and you | | |should recognise that the recommendations will only relate to that limited advice being sought and may not be appropriate | | |considering your overall situation and objectives. | |( |Tax File Number Permission | | |I/We give permission for my/our tax file number(s) as provided, to be held only by Mentor Financial Planning and be | | |forwarded to financial institutions as requested or as necessary. |( |Engagement Application | | |I/We request that Mentor Financial Planning investigate research and provide suitable options to the financial objectives | | |outlined in this questionnaire. | | | | | |I/We understand that the preparation fee of $500 is payable for the work to be undertaken. This fee may be credited | | |against my establishment fee should I/We proceed to implement any of the recommendations provided by Mentor Financial | | |Planning. | | |Client 1 | |Client 2 | | | | | |Signature: | | | | | | | | | |Date: | | | | |8. Adviser’s Declaration | I declare that: a) the information contained in the Fact Finder is an accurate and complete record of the information obtained from the client(s); b) The client(s) was provided with a copy of the Financial Services Guides before any advisory services were provided. |Adviser’s Signature | |Date | | | |Additional Important Information for the Client(s) | |If incomplete or limited financial information has been provided: | | | |I, as your Adviser, will not be able to undertake a full needs analysis of your individual investment objectives, financial situation | |and particular needs; | |There is a possibility that any recommendation given to you may not be fully appropriate to your individual objectives and needs, | |especially those which I, as the Adviser, do not know; and | |You as the client must carefully ssess the appropriateness of the recommendations to your own individual investment objectives, | |financial situation and particular needs before acting on them. | To Whom It May Concern Please accept this letter as my/our authority to provide any information requested and documentation if required to Azza Financial Planning (or their representative). Please accept a photocopy or facsimile of this letter, as the original will remain on file at the offices of Mentor Financial Planning. Correspondence should be sent to Level 2, 349 Collins Street Melbourne VIC 3000 This authority should remain in force until withdrawn in writing by me/us. Thankyou. |Allison Callahan | | | |Client 1 Name | |Signature | | | |Simon Callahan | | | | | |Signature | | |Client 2 Name | | | | | | | | | |Client 1 D. O. B. | |Client 2 D. O. B. | | | |___/___/___ | |___/___/___ | | | | | |Lot 3, wattle road, Hurstbridge, VIC | |Address | | | | | On Going Service Options 1. The â€Å"No serviceâ €  option This generally relates to a one off investment placement based on the agreed investment strategy in the financial plan. In choosing this option, no ongoing service or review of the financial plan and the investment portfolio is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 2. The â€Å"Portfolio valuation† option This service provides reports on the value of your investment portfolio only. The fee charged will depend on the frequency of the reports. In choosing this option, no ongoing service or review of the financial plan is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 3. The â€Å"Portfolio review† option This service provides reports on the value of your investment portfolio. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $N/A but this may be higher depending on the complexity of the review. This service includes: An annual/half yearly/quarterly review of your existing investment portfolio and its performance looking at further investment opportunities, if appropriate establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio In choosing this option, o ongoing service or review of the financial plan is provided to the client unless specifically requested by the client or upon the recommendation of the planner. 4. The â€Å"Financial Plan review† option This service provides for an annual/half yearly/quarterly review of the overall financial plan strategy and the investment portfolio recommend ed. Each review will be presented in the manner of a written report and recommendations. The fee to be charged will depend on the frequency of the reviews and will be agreed at the time. The minimum fee is $__500________, but this may be higher depending on the complexity of the review. This service includes: roviding reports on the value of your investment portfolio; an annual/half yearly/quarterly review (including comments) of your existing investment portfolio and its performance; looking at further investment opportunities, if appropriate; establishing if there have been any changes in legislation, the economic environment and state of the financial markets that may impact on your recommended investment portfolio and the overall financial plan strategy; establish if there have been any changes to your personal circumstances or financial goals and objectives; ascertain if the overall financial plan and the investment portfolio is continuing to meet your financial goals and objec tives (including an insurance review); and making any new recommendations (if necessary).