Report Of Pratibha Industries Essay Example Pdf - Free Essay Example

Sample details Pages: 10 Words: 3120 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? The annual report of Pratibha Industries Ltd is analysed for years FY2007-2008 and FY2008-2009. The report attempts to analyse the financial health of the company from the point of view of an investor making an investment decision. The report compares the performance of PIL over the last three years by analysing the financial statements of the company. Don’t waste time! Our writers will create an original "Report Of Pratibha Industries Essay Example Pdf" essay for you Create order Also peer comparison has been done with three companies for a comprehensive view. The ratios are calculated based on the financial data available in the companys Annual Reports of FY07-08 and FY08-09.The competitor data has been taken from www.moneycontrol.com and the key ratios are calculated using the same method as ratios of PIL for accurate comparison. INTRODUCTION The financial statements provide information about the financial position of the firm. The detail of the analysis is useful in making some vital economic decisions. Pratibha Industries Ltd. (PIL) is a turnkey project contractor, engaged in constructing buildings and infrastructure development projects. It designs and constructs integrated water transmission (including treatment, re-cycling, storage and distribution projects), water treatment plants, elevated and underground reservoirs, mass housing including real estate projects, commercial complexes, pre-cast design and construction and road construction services. ABOUT THE COMPANY Company Background Pratibha Industries Limited (PIL) is the flagship company of Pratibha Group, incorporated in 1983. The company that started with manufacturing of SFRC manhole covers, frames and various other pre-cast products, has now positioned itself as a niche player in infrastructure space with expertise in water management and other urban infrastructure projects. Apart from having presence in lucrative water segment that accounts over 60% of the companys current order book, PIL has enlarged its presence into urban infrastructure projects like road construction, airport terminals, mass housing projects, commercial complexes, railway stations, tunneling projects and into other verticals of infrastructure development like EPC contracts in Oil and Gas distribution, thermal power plants and other large projects in construction space. Further the company has also backward integrated by setting up a pipes manufacturing facility for captive consumption as well as to tap the tremendous opportunities t hat lies in pipes segment. Significant Accounting policies The Financial Statements are prepared to comply in all material aspects with the applicable accounting principles in India, the accounting standards issued by the Institute of Chartered Accountants of India and the relevant provisions of The Companies Act, 1956. The Financial Statements of the Company and its subsidiary companies (which are not in the nature of joint ventures) have been consolidated on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses. The intra group balances and intra group transactions and un-realized profits or losses resulting from intra group transactions are fully eliminated. Investments in associate companies have been accounted for, by using equity method whereby investment is initially recorded at cost and the carrying amount is adjusted thereafter for post acquisition change in the Companys share of net assets of the associate. The Consolidated Financial Statements include the interest of the Company in JVCs, which has been accounted for using the proportionate consolidation method of accounting and reporting. For further details on the Accounting policies refer to Appendix 4. No change in accounting policy noticed in the annual report for the past 3 years. The Balance Sheet, Profit and Loss and Cash Flow Statements have been duly audited the year ending at 31st March every year. COMPANY FINANCIAL AND DATA ANALYISIS Note: All figures such as sales etc. are in Indian Rupee (Rs.) and in terms of 10 Million (1crore). Key Ratio Calculations: Growth Ratios: The growth percentage provides a brief snap shot of the companys status as compared to the previous year. Profitability Ratios: AÂÂ  class of financial metrics that are used to assess a businesss ability to generateÂÂ  earnings as compared toÂÂ  its expenses and other relevant costs incurred during a specific period of time. Comment on Profitability Ratios: Return on Capital Employed: It is the ratio of operating profit generated during a period and the average long-term capital invested in the business during the period. The ROCE has decreased in 2009 after an increase in 2008. The reason for decrease is mainly because secured loans rose by 69.7% and unsecured loans were again availed back in 2009. These loans were present in 2007 and settled in 2008. Return on Net worth: The return on net worth ratio has increased to 19.9% after a slight dip in 2008.The dip was largely due to 107 % increase in reserves and surplus during 2008. Gross, Operating and Net Profit Margin: All the three profit margins have been dropping year on year. In 2009 the profits drop can be mainly attributed to the increase in expenses. Though there is increase in all the expenses generally due to high commodity prices and inflation ; those a bit out of proportion are the Directors Remuneration which has increased about 250% and Legal fees and other professional charges by about 83%. In 2008 the drop in profit can be attributed to the raise in cost of work done which again can be traced to heavy purchases a steep rise of 249%. Turnover/Activity Ratios: Turnover ratios are used to measure how many times a companys inventory is replaced in a specific period of time. By dividing the cost of goods sold by average inventory we can calculate the turnover ratio. When the company is producing and selling its goods quickly then it is said to have a high turnover ratio. Comment on Turnover/Activity Ratios: Fixed Asset Turnover: This ratio has decreased to less than half of 2007 value. This is due to the substantial increase in the investment in plant and machinery as the company is in expansion. But it also shows that the company is not making use of its capital to the optimum. Debtor Turnover: This ratio has increased to 7.29 in 2008 and dropped to 5.71 in 2009 again. This is due to the drop in sundry debtors in 2008 and rise in 2009. Inventory Turnover: This ratio has dropped substantially due to the increase in inventory. Its due to increased work in progress in 2008. It increased again in 2009 due to decreased work in progress. But overall it implies poor sales by the company during the period. Liquidity Ratios: Liquidity ratios are concerned with the ability of the business to meet its short term financial obligations. Comment on Liquidity Ratios: Current ratio: The current ratio has fallen from 3.04 to 1.33 in 2008 and again increased to 1.89. The fall in 2008 was due to increased liabilities (274% rise) in the form of sundry creditors and advances deposits. Whereas In 2009 while the current assets increased; the liabilities actually decreased leading to a higher current ratio. The increase shows margin available will be more and chances of the firms meeting its commitments will also be more. But still a ratio of 2:1 is expected as ideal. Acid Test Ratio/Quick Ratio: The pattern of acid test ratio is very similar to the current ratio discussed above. The only difference being the inventory. In 2008 the work in progress was high which lead to a high inventory and low ratio while in 2009 the work in progress decreased which increased the ratio. The ratio is above 1 and hence indicates that the business is safe and would be able to pay short term liabilities from its liquid assets. Leverage Ratios: Leverage ratios are used to calculate theÂÂ  financial leverage of a company to get an idea of the companys methods of financingÂÂ  or to measure its ability to meet financial obligations. Comment on Leverage Ratios: Interest cover ratio: The Interest cover ratio measures the amount of operating profit available to cover interest payable. It has remained relatively stable over the three years in spite of increasing operating profit. This is due to the fact that the interest paid to the bank and interest on finance for vehicle and construction equipment has increased year on year. Still the interest cover is adequate for the period. Debt-Equity ratio: This ratio indicates what proportion of equity and debt the company is using to finance its assets. In 2008 this ratio had almost halved and then again rose by 1.5 times in 2009. As mentioned earlier it is due to the unsecured loans in 2007 which were paid back in 2008 and again availed back in 2009. But still it reflects a less dependence on debt, as the company is in a capital intensive sector, the financial needs have been fulfilled by issue of equity shares. Investment Ratios: These are mainly used by the investors to find out the performance of a business as an investment. The investors will be interested in the company making some good profit from the investment made. Dividend payout ratio: The dividend payout ratio is decreasing year on year. This is due to the fact that the company is paying a constant dividend in spite of increasing profits. The company can make use of major part of its profit for the future growth. Dividend yield ratio: It shows how much a company pays out in dividends each year relative to its share price. In the absence of any capital gains, the dividend yield is the return on investment for a stock. The dividend yield ratio is varying with the market price as the dividend payout is constant at Rs.2 per share year on year. Earnings per share: The Earnings per share is increasing year on year which is a good sign. Its due to increasing profit every year. P/E Ratio: The PE ratio had peaked out in 2008 due to high price of the share. Due to 2009 recession the price of the share bottomed out and the P/E ratio was the lowest at 2.97 at 31st march 2009.This indicates that the stock was cheap on that day. Other Inferences: The company had a high exposure in Indian stock market through mutual funds. These mutual funds were amounting to RS.85.01 Crore. These were sold off for RS 3.42 crore which represents a loss of 95.97%. PEER COMPARISON The peer comparison has been done with Unity Infra (UI), Madhucon projects(MCN)and JMC Projects(JMC). Mostly the charts are self explanatory. PIL has shown good profitability as compared to peers with a high ROCE and RONW and a good operating profit margin. Liquidity ratios have come down from undesirably high levels to acceptable ones. The Interest cover is lower and debt to equity is higher than peers. Though the dividend payout is less the EPS of the company is fairly high .It can be said that overall the company is having good standing in comparison with its peers. MARKET PERCEPTION The current price and values as on 24/Dec/2009 are shown below. The markets have rebounced after the effects of recession and today the stock price is relatively higher than the year end 31st March 2009. The Analystcommunity/Broker view point has been attached in APPENDIX 5. For a detailed analysis the stock price chart has been attached in APPENDIX 6. OHLC(open high low close ) chart has ben chosen for 52 week period. The 52 week low was around 53.05 (due to FII outflow from indian markets in march ). All the stock prices were vey low at that point. The OHLC shows the markets open, previous close, todays high and low. The market is pretty range bound and not trending and so the stock price has witnessed a small fall. (Indian point of view). CONCLUSION The Financial Analysis helps us conclude that the company in spite of having some glitches has performed well , especially compared to the peers and the stock is not overvalued and hence has a good investment potential in the long term. Future Potential PIL has a robust order backlog of around Rs 2100 crore (nearly three times its trailing four quarter sales) as on date and the same is expected to grow to Rs 3500 crore by fiscal FY 2011, which provides strong revenue visibility. While maintaining its strong foothold in the water segments, PIL has diversified its business profile into urban infrastructure projects and other verticals of infrastructure development like EPC contracts in Oil and Gas distribution, thermal power plants and other large projects in construction space. This will insulate the company from any slowdown in any particular segment. The company has backward integrated by setting up HSAW pipe facility, which has strengthened its margin in water segment and also allowed an entry into a lucrative space of oil and gas EPC contracts. Pratibha Industries has sizable presence in Mumbai Metropolitan Region and is expanding aggressively in other states in order to diversify the state specific delays and risk. Risk Concerns Projects included in the order book of the company may be delayed or cancelled for various reasons, which will adversely affect the revenues and earnings of the company. As for PIL, most of its projects are running on schedule. However, one cannot ignore the inherent risks associated with the business. Fluctuation in raw material prices is another concern. A sharper-than expected increase in the prices of these raw materials could impact PILs Margins. Future order inflows might get affected due to the economic slowdown. Any slowdown in government implementation and awarding of contracts in water management and urban infrastructure, will impact companys earning. R D expenditures of total turnover was 1.9% 9. REFERENCES Ashok Leyland website https://www.ashokleyland.com BFA report available at https://chintan.agarwal.googlepages.com/BFA_Report_R9.pdf Performance report available at https://www.ashokleyland.com/performanceReport.jsp Business Line website https://www.thehindubusinessline.com Moneycontrol website https://www.moneycontrol.com ICICI direct website https://www.icicidirect.com Definitions for Profitability ratios available at: https://www.investopedia.com/terms/p/profitabilityratios.asp?viewed=1 Definitions for Turnover ratios available at https://www.investorwords.com/5832/turnover_ratio.html Definitions for Liquidity ratios available at https://www.advfn.com/Help/liquidity-ratio-112.html Definitions for Solvency ratios available at https://www.investopedia.com/terms/s/solvencyratio.asp Chadwick, Leslie (2002). Essential Finance and Accounting for Managers. Prentice Hall Dyson, J R., (1997). Accounting for Non- Accounting Students. Fourth edi tion, Pitman Publishing. APPENDICES Appendix 1 Appendix 2 Appendix 3 Appendix 4 Policy Comment Accounting Convention The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956. The Company is following accrual basis of accounting on a going concern concept. Accounting policies are suitably disclosed as notes annexed to the Balance Sheet and Profit Loss Account. Fixed assets and depreciation/amortisation Fixed Assets are stated at cost of acquisition, including any attributable cost for bringing the asset to its working condition for its intended use, net of taxes and duties less accumulated depreciation and impairment loss and includes financing cost for period up to the date of readiness of use. Capital Work-in-Progress is stated at the amount expended up to the date of Balance Sheet including preoperative expenditure. Depreciation on fixed assets has been provided on Straight Line method at the rates and in the m anner prescribed in Schedule XIV to the Companies Act, 1956. As per ASI 2- Accounting For Machinery Spares, the machinery spares specific to a particular asset have been capitalized. Investments Current investments are carried at the lower of cost and quoted/fair value, computed category wise. Investments, intended to be held for more than a year, from the date of acquisition, are classified as long-term. they are stated at cost. Provision for diminution in the value of long-term investments is made only if such a decline is other than temporary. Inventories Cost of inventories comprise of all cost of purchase, cost of conversion and other cost incurred in bringing them to their respective present location and condition. Raw materials are valued at lower of cost or net realizable value. Foreign currency transactions All Monetary assets and liabilities are converted at the exchange rate prevailing on the last day of the year. All Monetary assets and liabilities are converted at the exchange rate prevailing on the last day of the year. Revenue recognition The Company follows the percentage completion method, on the basis of physical measurement of work actually completed at the balance sheet date, taking into account the contractual price and revision thereto by estimating total revenue and total cost till completion of the contract and the profit so determined has been accounted for proportionate to the percentage of the actual work done. Sales are accounted net of excise duty, Sales Tax, Discount, Returns and Rejections. Sales are recognized on dispatch of material from the factory of the company. Borrowing Costs: Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. All other borrowings costs are expensed out. Contingent Liabilities: These are disclosed by way of notes on the Balance Sheet. Provision is made in the accounts in respect of those contingencies, which are likely to materialize into liabilities after the year end, till the finalization of accounts and have material effect on the position stated in the Balance Sheet. Segment Accounting Segment accounting policies are in line with the accounting policies of the Company. Segment revenue includes sales and other income directly identifiable with/ allocable to the segment including inter- segment revenue. Income which relates to the Company as a whole and not allocable to segments is included in Unallocable Corporate Income. Segment result includes margins on inter- segment transactions, which are reduced in arriving at the profit before tax of the Company. Segment assets and liabilities include those directly identifiable with the respective segments. Segment revenue resulting from transactions with other business segments is accounted on the basis of transfer price agreed between the segments. Such transfer prices a re either determined to yield a desired margin or agreed on a negotiated basis. Appendix 5 ANALYST COMMENTS BY GEOJIT BNP PARIBAS: Please be informed that the Pratibha Industries, a leading engineering and construction company, has been doing reasonably well. A company with annual turnover of Rs.805 crore in Financial Year 08 -09, earned net profit of Rs.45 crore in that year and the earnings per share (EPS) is Rs.26.80. For the six months ended September 09, net profit of the company is Rs.24 crore. which translates to an EPS of Rs.14.38 on a half yearly basis. Book value of the share as on March 09 balance sheet is Rs.134. At the current price (Rs.the price / book value ratio is 2.08. The figures as stated above indicate that the stock is not over valued and you may consider a buy. However, the sluggish trends in the construction and engineering industry in recent days due to the on going economic slowdown may check any strong upmove in the stock prices in the immediate term and it looks better to buy for the long term. Buying in small lots in different occasions would help you to accumulate t he stock cheap, if the price is falling.

Hoarding Worldwide Issue Essay - 1189 Words

When a hoarder opens their front door, one will first notice the smell of feces, molds, and a musky smell in the air. Upon walking into the hoarder living room, the clutter filled the entire room from the ceiling to the floor except for a pathway leading to every room in the house. Next, one walked to the bedroom where one can see tons of garbage bags filled with clothes, tons of boxes, and suitcases filled with clothes also. Then, followed the pathway to the kitchen, where the smell of rotten foods and molds filled the air. One will notice the piles of garbage, cluttered furniture, and structural damages to the walls and floor. Finally the journey comes to an end when one reaches the bathroom. In the bathroom, one will smell feces, molds,†¦show more content†¦In the United States, at least one million people are affected from hoarding. Hoarding first occurred when the collyers brothers were buried alive thus increase the fascination and anxiety during the 1930s to today (He rring 2011, p. 159). On March 21, 1947, Homer Collyer’s body was found â€Å"in a sitting position with his head on his knees. His brother’s, Langley Collyer’s body was found trapped in one of his own booby trap 10 feet away from Homer body. Their house â€Å"was packed with junk, [for example] newspapers, tin cans, magazines, umbrellas, old stoves, pipes, books, and much more.† In addition, only small tunnels were the only pathway through each room (Frost and Steketee 2010, p. 2). The Collyer’s brother’s house also contained eleven pianos, parts of a Model T Ford â€Å"discarded furniture, old ice boxes, baby carriages, animal bones, and old clothing †¦Ã¢â‚¬  (Penzel 2000, p. 246). The effects of hoarding can include â€Å"severe clutter threatens the health and safety of those living in or near the home, causing health problems, structural damage, fire and even death; expensive and emotionally devastating evictions or other court actions can lead to hospitalizations or homelessness; and conflict with family members and friends who are frustrated and concerned about the state of the home and the hoarding behaviors (Bratiotis, Otte etc., 2009). Deaths associated with hoarding is common and is most likely to occur whenShow MoreRelatedâ€Å"Stuff, Stuff, I Am Surrounded By Stuff.†(Line 1) We Look1267 Words   |  6 Pagesâ€Å"Stuff, stuff, I am surrounded by stuff.†(line 1) We look around and all we see are belongings that we might not even use or need. Although we don’t acknowledge it, keeping ties and papers from ten years ago is a characteristic of hoarding. There is just a little hoarder inside all of us. It is part of human nature. The emotional value that we give to objects play the biggest role when deciding to keep or get rid of something. We collect and save some items because it helps us remember the past orRead MoreWalmart Swot Analysis857 Words   |  4 Pagesstore. They have the interest that their costs will be the least expensive alternative over any contender. Walmart has grown-up significantly over recent years, and has encountered worldwide extension, which just helps its flourishing. This is one of Walmart s most prominent strengths – they are perceived on the worldwide scale and have high brand value. Walmart is the biggest employer in the United States and a retail monster that has the clout to represent make to break trader. This strength of WalmartRead MoreHow Can Animal Abuse Be Prevented? Essay2019 Words   |  9 Pagesneeds. Intentional abuse often associates itself with other more serious crimes which are very dangerous and aggressive. Unintentional may be less severe but still causes extreme suffering for the animal and many deaths. Examples of this are neglect, hoarding, and not being able to care for the animal. As you can see, animal abuse comes in many different forms but usually has the same outcome on the animals which is pain, suffering, and/or death. Dog fighting is one the most abhorrent forms of animalRead MoreNorth Korea s Confrontational And Unpredictable Behavior1261 Words   |  6 PagesKorea illustrates a blatant disregard to international law through trade of prohibited goods. Its obsession with nuclear weapons in recent years, its continuous disregard to human life and its affiliation to terrorism creates fear and uncertainty worldwide. Under the current regime, North Korea poses a clear and present danger to the global community. Within this paper an analysis will be conducted on North Korea’s confrontational and unpredictable behavior including its nuclear program; its threatRead MoreThe Internet : The Modernization Of Money Laundering1432 Words   |  6 PagesThe Internet: The Modernization of Money Laundering in the 21st Century Until all illegal activity ceases worldwide, there will always be a need for money laundering services. While there is no way of knowing when the first case of money laundering occurred, countries all over the world have been trying to fight this issue for at least the last 40 years. As soon as a new technique comes out into the public, countries write laws that try to prohibit that behavior. Unfortunately, there is no one-stopRead MoreCruelty to Animals in Pakistan931 Words   |  4 Pagesimplementing a nationwide ban on bear-farming. World Society for The Protection of Animals and Animals Asia are two organizations working against illegal bile farms, by spreading awareness and creating sanctuaries for rescued bears. Many cities worldwide are banning circuses with animals, especially in the United Kingdom(although they’ve allowed the ‘Great British Circus’, and have yet to impose a full ban), Slovenia, Bolivia, Paraguay and Ecuador. The City Commission of Hal landale Beach, FloridaRead MoreThe History of Coca-Cola Essay1106 Words   |  5 Pagescompany’s stock (Solar Navigator). In 1923, Robert Woodruff became the new president of the now publicly traded company. It is said that Asa Candler introduced Americans to Coca-Cola, but Woodruff spent his 60 years as company leader making it worldwide. Mr. Woodruff established a foreign department for Coca-Cola, which in 1930, became the â€Å"Coca Cola Export Corporation.† Plants were opening in Guatemala, Honduras, France, Italy, Belgium, Mexico and South Africa. Big things were happening forRead MoreSwot Analysis : Swot 1306 Words   |  6 Pageswith increase in GDP growth rate from year to year, for now it is 7% as of Aug 2015. Moreover, the inflation rate is low in India which is good for McDonald’s. As of Aug 2015, inflation rate is 3.78% whereas in June 2011 was 9.6%. India ranks 7th worldwide when expenditure on food is considered. This can be beneficial to the company. The buying power of the consumer has increases, especially in the middle class group and at least it is founded that thrice a month they visit outside restaurants. TheRead MoreNegative Effects Of Homelessness1446 Words   |  6 Pagesaffected by alcohol dependence. This is 10 times the prevalence of alcohol dependence within the general us population. Signs: Signs of living doubled-up include references to crowded conditions, panic attacks in class, chronic hunger as well as food-hoarding behaviors, sleep deprivation, unkempt clothes, inadequate personal hygiene, and unmet medical or psychological needs. Students tend to be runaways from crowded; doubled-up living situations due to the fact that the environment in which they are livingRead MoreCauses Of Great Depression Of The 1930s1173 Words   |  5 PagesThis started a sequence of dilemmas for economies; the most impactful being the collapse of the stock market in 1929. In this essay I plan to validate that the economic instability; caused by certain factor, of the U.S in the 1930’s resulted the worldwide phenomenon known as the Great Depression. (Harold James, 2010) â€Å"From 1929 to 1932, U.S gross domestic product (GDP) fell by a third, from 103.1 billion to 58 billion.† (p.16). the crash of the stock market significantly impacted the health of the

Social Context Of Probation Officer - 1082 Words

Social Context of Probation Officer Rebecca McRunnel Probation Parole: CRJ 467 Professor Martin McAuliffe July 12, 2015 Many people see probation as a suspension of a sentence by the court. While being a citizen of the community, the offender is under direct supervision by a court officer, referred to as a probation officer. This officer supervises the offender’s progress imposing direct or un-direct supervision (Diana, 1960). Judge McKenzie Cleland, described what probation actually is â€Å"probation is a plan of suspending over offenders the maximum sentences permitted by law while allowing them to determine by their subsequent conduct whether they should lose or retain their liberty†¦with the full knowledge that further delinquency meant†¦severe punishment† (Diana, 1960). Probation was a very distant word in the middle ages; however there were many petty offenders who were able to be released and not imprisoned. Many of these practices became common within the American colonies. Credit was given to John Augustus, a Boston shoemaker, who became interested in an offende r after he violated the law. Augustus bailed out the offender and befriended him. With all this beginning in 1841, it wasn’t until 1878 when the first law of probation was passed in Massachusetts (Diana, 1960). As the development of probation continued throughout the year and decades, things have changed rapidly; allowing probation officers to impose laws incarcerate the offender andShow MoreRelatedThe Changing Roles and Experiences of Probation Officers970 Words   |  4 PagesIntroduction According to the Bureau of Justice Statistics, there were over 4 million adults on probation in the United States in 2010. Today more and more agencies have shifted from simply monitoring an offender’s compliance to using evidenced based practices to reduce recidivism rates. The intense involvement with offenders caused by this shift exposes officers to many new stressors that previously did not exist. A recent study by Kirsten R. Lewis, M.Ed., Ladonna S. Lewis, Ph.D., and Tina M. GarbyRead MoreAccredited programme requirements were created from the Criminal Justice Act 2003 but in order to1300 Words   |  6 PagesCriminal Justice Act 2003 but in order to understand how this came to be it is significant that the history and political context of the probation service is understood. The Probation of Offenders Act was established in 1907 and under this act the release if offenders into the community under the control of probation officers were made official. The primary aim of the probation was made clear under this act which was to advise, assist and befriend and it continued that way until 1970’s. During thisRead MoreOutline and assess the role of the police in the social construction of crime (50 marks)1735 Words   |  7 Pagesï » ¿Outline and assess the role of the police in the social construction of crime (50 marks) Social construction refers to the way in which crime and deviance in society might be created and shaped by society and social institutions. This can occur in a number of different ways. For example, they can influence public perception and definitions of what establishes crime and deviance, deviants or non-deviants. They can also influence the amount of crime in society by amplifying it therefore clampingRead MoreTherapeutic Jurisprudence And The Law893 Words   |  4 Pagesrecently. People want an understanding of why people are acting the way other do. Therapeutic jurisprudence focuses our attention on the human, emotional, psychological side of law and the legal process. Therapeutic jurisprudence deals with the law as a social force that explains behaviors and consequences. The consequences can fall within therapeutic or sometimes antitherapeutic. Therapeutic jurisprudence is used more now to see whether the law can be used in a more therapeutic way. The goal is to haveRead MorePolicing The Lives Of Black And Latino Boys1348 Words   |  6 Pagesaccepted into college, Rios became interested in sociology and how sociological theories explained and predicated social outcomes, particularly concerning race relations and criminalization. Rios went on to further his education in the sociological field which lead him to interviewing and shadowing black and Latino boys in Oakland for their unique perspective of the criminal justice system, social institutions, community support, victimization, and hypercriminalization. Hypercriminalization was definedRead More Gang membership, Drug Selling, and Violence in Neighborhood Context1535 Words   |  7 Pagesgold standards of an ideal lifestyle that in the reality that social structures in some groups cannot follow (Shelden, Brown, Miller, Fitzler, 2008). According to strain theory, Smiley’s neighbors all want same things but they cannot get them legally so they decide to find illegal loopholes. They go in this state that Robert Merton would call anomie (Shelden, Brown, Miller Fritzler, 2008). According to him, the state is when â€Å"social structures exert a definite pressure upon certain persons inRead MoreHow A Child Has Seriously Harmed Following A Violent Assault Perpetrated By Another Child Or An Adult1253 Words   |  6 Pagesthe school in the context of safeguarding and child protection must be used only for that purpose.† Staff will respect this confidentiality in many ways. Staff will only discuss parents own children with them, both academically such as progress and marks; and in a wider scope, such as situations external of the school environment that may be having an impact within the school environment on other children. Any records about children, including personal information and social services recordsRead MoreThe Problem Of Crime And Crime960 Words   |  4 Pagesfriends. Victimless crimes including; prostitution, drug abuse, and gambling have a major effect with social consequences. With that said, communities and governments spend public funds for; police departments, prisons, jails, courts, and treatment programs. Also publically funding for the salaries of prosecutors, judges, public defenders, social workers, security guards, and probation officers. There are also the traumatic impacts on friends and the disruption of family.Behavior can forever be changedRead MoreClient Scenario : Crime And Alcohol Counseling Essay1064 Words   |  5 Pagescounseling as a result of a probation requirement. Anthony, a 31-year-old African American male, was arrested and charged with possession of cocaine with the intent to deliver. During his incarceration, he admitted to daily use of cocaine, as well as h eavy drinking. As a result, Anthony participated in drug rehabilitation programs while incarcerated. Furthermore, upon his release, his probation officer ordered him to complete drug and alcohol counseling as a stipulation of probation. While Anthony doesn’tRead MorePursuing A Master s Student Affairs1412 Words   |  6 Pagescourse, I would like to think the Chickering’s Seven Vectors and Schlossberg’s Transition Theory has helped me gain more self-awareness about my development and identity. In addition, theories such as: Phinney’s Model of Ethnic Identity Development and Social-Cognitive Theory of Gender Identity Development would be beneficial in my career as a Student Affairs Professional. Applying Chickering’s Seven Vectors to my college experience is simple. I think that is because Chickering’s Seven Vectors can be

IT Ethics Dimensions of Consequentialism

Question: Discuss about the IT Ethics for Dimensions of Consequentialism. Answer: Introduction The given case study or article describes how individuals have a different point of views towards hacking. There is a website where hackers are listed out, and people are looking to use them for their illegal and legal activities. Some individuals are using hacking for their personal benefits for an example an Australian woman wants to hack her husband mobile so that she can get confirmed that her husband is cheating on her. A person forms NSW seeks to hire a hacker to hack their competitor database so that they can use it for their business because he wants to know how much the competitive company is charging their customers. Some individuals wanted their old account access as someone as already hacked it and some people want to change their grade marks. So the essay presented here is a discussion about IT ethics based on two different classical theories of ethics when implied to the given article or case study (Pro et al., 2015). Overview of Consequentialism, Deontology Here in this case study we only use two principles to understand how each theory defines the situations of hacking and its consequences. But before we explain we have to understand those two theories first. Lets define each and understand what exactly they are. Consequentialism It is a normative ethical theory that says that an action is right or wrong is entirely based on the consequence of the outcome of the perform action. So basically it means that when an individual carries out a task, then they think about the results of that completed work rather than thinking if the executed job is wrong or right (Peterson, 2013). Deontology or Non- Consequentialism It is also a normative ethical theory which explains that an action which is performed is not judged its consequence of the outcome of the executed work. To simplify it we can say that it is an action which is not carried out by just thinking about the result of that performed task or activity, the concern personal will think if the completed work is right or wrong and based on that they will carry out the task (Sunstein, 2013). Discussion on Consequentialism on Hacking Based on the given article it has been seen that individuals who are hiring the hackers are not even thinking whether the work they are asking to perform is even right or wrong. It implies to the hackers as well. Considering the ethics of consequentialism, as it says that a task or an action when performed based on the consequences without even thinking whether the work or action performed is appropriate or not (Pettys, 2012). So, in this case, the hackers or the service buyers don't even reflect on whether the job they are asking to perform is wrong or right. They are as just looking and concentrating on the consequences. It is one of the parts of consequentialism where the individual only thinks about their profit rather than thinking how it can affect the others. For example, let say a person is hiring a hacker and the individual wants the hacker to hack the database of the company to know how much the other company is charging their clients (Sykes, 2014). Now here, in this case, the hacker will think about the outcome by the end of this task because the service buyer might have said that they will be paid higher if the task is completed successfully. So here the consequences matter for both the hacker and the person who hired, but both of them didn't think about whether the task is wrong or right. They only look at the outcome or consequences of the work that is performed (Hiller et al., 2013). Discussion on Deontology on Hacking Considering another classical ethical theory Deontology is a different set of rules, this theory explains that a task, when performed, is been the judge whether the job is right or wrong and then the task is performed. In this case, the hackers or the individuals need to think about the job they are asking to complete before they look into the consequence in another word we can say that Deontology is exactly opposite to Consequentialism (Thomas, 2015). For an example based on the given article, a hacker known as Jarmaa says that if the task that is performed is right and it doesn't affect any individual by any means than there is nothing wrong in performing the work. So here the semi-unethical hacker is saying that the action needs to judge first and then we need to complete the task. So then the work that is been performed will not be illegal (Smith et al., 2015). Recommendation According to Australian law, hacking is a serious offense and can lead to at least ten years of jail sentence with a fine. So the government should not allow or block such websites to be online. Individuals should not trust on such websites and hackers because some people might have genuine reasons or a legal task to perform but they can be in real trouble if something goes wrong. The cyber security of Australia needs to keep a watch on such sites, and they have to inform the site owners that if any hacking work is performed, then the service buyers name and address has to be displayed publically for security purpose. So that if anything goes wrong, then both the hacker and the service buyer need to pay a hefty fine or may get a jail sentence. Conclusion The study concludes that hacking cant be defined as ethical and unethical because it's entirely based on the kind of task they are performing and its consequences. In this study, we have considered two theories of ethics where Consequentialism describes and explain about how it action is been carried out based on that theory and its impact on the relevant task. Similarly, when considering the other ethical theory Deontology it has been observed that the job needs to be judge first if it's wrong or right and then it will be performed. So overall the study explains about these theories along with some recommendation that needs to be considered to reduce any criminal consequences. References Hiller, A., Ilea, R., Kahn, L. (2013). Consequentialism and environmental ethics (Vol. 25). Routledge. Peterson, M. (2013).The dimensions of consequentialism: Ethics, equality and risk. Cambridge University Press. Pettys, T. E. (2012). Judicial Retention Elections, the Rule of Law, and the Rhetorical Weakness of Consequentialism.Buff. L. Rev.,60, 69. Pro, I., IT, S., addresses, R. (2015). Rent-a-hacker site leaks Australian buyers' names and addresses. The Sydney Morning Herald. Retrieved 26 May 2016, from https://www.smh.com.au/it-pro/security-it/rentahacker-site-leaks-australian-buyers-names-and-addresses-20150529-ghca3f.html Smith, I. H., Netchaeva, E., Soderberg, A., Okhuysen, G. (2015, January). The Behavioral Ethics of Deontology and Utilitarianism: Are They as Separable as They Seem?. In Academy of Management Proceedings (Vol. 2015, No. 1, p. 14876). Academy of Management. Sunstein, C. R. (2013). Is Deontology a Heuristic? On Psychology, Neuroscience, Ethics, and Law.On Psychology, Neuroscience, Ethics, and Law (August 1, 2013). Sykes, J. (2014). Legal and ethical issues in the media [Book Review]. Thomas, A. J. (2015). Deontology, Consequentialism and Moral Realism. MinervaAn Open Access Journal of Philosophy, 19.

I Corinthians Essay Example For Students

I Corinthians Essay I Corinthians, the seventh book of the New Testament, was written by Paul to get across that Jesus is alive (15:3-18) and that we will be resurrected (15:35-38), among other things. Today there is no dispute that Paul is the author of I Corinthians. Both external and the internal evidence for the Pauline authorship are so strong that those who attempt to show the apostle was not the writer succeed chiefly in proving their own incompetence as critics.1 As internal evidence, Paul identifies himself as the author in 1 Corinthians 1:1 and 16:21. External evidence of Paul writing this letter is supported by people such as Clement of Rome (c. 95-97) and Augustine (c. 400). The letter was written to the people of Corinth. Corinth was a strategically located Roman city on the main land route between East and West and was the crossroads for several sea routes. Corinth was famous for its intellectual and material prosperity and was honored with being the capitol of Ancaia. It also became famou s for its corruption. Paul began his ministry there on his second missionary journey. He converted many influential people in Corinth, thus he stayed for a year and a half. Most likely, Paul left Corinth in the fall of AD 51. Paul returned to Corinth on his third trip to Asia, c. fall, AD 52. Paul then wrote this letter from Ephesus while on his third trip to Asia.Paul wrote the letter several years after his initial departure from Corinth in the fall of AD 51-52. The letter was written before the beginning of the summer since Paul intended to leave Ephesus after Pentecost. It was also written before winter since Paul wanted to come to them and spend the winter. Paul wrote the letter four or five years after his initial departure from Corinth.Paul had many points that he wanted to get across in I Corinthians. For instance, the purpose of the letter was to address problems in the local churches of Corinth. Also, to counter worldly wisdom with Spiritual wisdom, and to answer questions that Corinthians had brought to Paul. (7:1,25 8:1) Furthermore, he wanted to deal with the several moral problems and the divisions that had formed as people had divided into fan-clubs and were proclaiming themselves followers of Paul, Apollo, Peter or Christ.During this time the Corinthian church had many problems. Most of these problems were the result of pride and placing so much emphasis on social status. In Corinth there was a lack of church discipline and an abuse of the Christian liberty. Paul dealt with these problems one by one, but the pinnacle of Pauls argument is in chapter 13 where he emphasizes the importance of love. Love of others is incompatible with pride and is to be the fundamental principle that guides all actions.I Corinthians points out to me what I should do, and not do to become a good Christian. For instance, Paul lists many things that you should not be in 6:9-11. Paul also pointed out that Jesus in fact did rise again, as he said he would, in 15:3-8. He states that Jesus came to him, and this gives us evidence that Jesus stayed true to the Scriptures. Furthermore, Paul tells us in 15:35-38 that we will be resurrected.