Safety Precautions in Welding Operations Essay Example

Safety Precautions in Welding Operations Essay To prevent injury to personnel, extreme caution should be exercised when using any types of welding equipment. Injury can result from fire, explosions, electric shock, or harmful agents. Both the general and specific safety precautions listed below must be strictly observed by workers who weld or cut metals. b. Do not permit unauthorized persons to use welding or cutting equipment. c. Do not weld in a building with wooden floors, unless the floors are protected from hot metal by means of fire resistant fabric, sand, or other fireproof material. Be sure that hot sparks or hot metal will not fall on the operator or on any welding equipment components. d. Remove all flammable material, such as cotton, oil, gasoline, etc. , from the vicinity of welding. e. Before welding or cutting, warm those in close proximity who are not protected to wear proper clothing or goggles. f. Remove any assembled parts from the component being welded that may become warped or otherwise damaged by the welding process. . Do not leave hot rejected electrode stubs, steel scrap, or tools on the floor or around the welding equipment. Accidents and/or fires may occur. h. Keep a suitable fire extinguisher nearby at all times. Ensure the fire extinguisher is in operable condition. i. Mark all hot metal after welding operations are completed. Soapstone is commonly used for this purpose. 2-2. PERSON AL PROTECTIVE EQUIPMENT a. General. The electric arc is a very powerful source of light, including visible, ultraviolet, and infrared. Protective clothing and equipment must be worn during all welding operations. We will write a custom essay sample on Safety Precautions in Welding Operations specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Safety Precautions in Welding Operations specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Safety Precautions in Welding Operations specifically for you FOR ONLY $16.38 $13.9/page Hire Writer During all oxyacetylene welding and cutting proccesses, operators must use safety goggles to protect the eyes from heat, glare, and flying fragments of hot metals. During all electric welding processes, operators must use safety goggles and a hand shield or helmet equipped with a suitable filter glass to protect against the intense ultraviolet and infrared rays. When others are in the vicinity of the electric welding processes, the area must be screened so the arc cannot be seen either directly or by reflection from glass or metal. b. Helmets and Shields. 1) Welding arcs are intensely brilliant lights. They contain a proportion of ultraviolet light which may cause eye damage. For this reason, the arc should never be viewed with the naked eye within a distance of 50. 0 ft (15. 2 m). The brilliance and exact spectrum, and therefore the danger of the light, depends on the welding process, the metals in the arc, the arc atmosphere, the length of the arc, and the welding current. Operator s, fitters, and those working nearby need protection against arc radiation. The intensity of the light from the arc increases with increasing current and arc voltage. Arc radiation, like all light radiation, decreases with the square of the distance. Those processes that produce smoke surrounding the arc have a less bright arc since the smoke acts as a filter. The spectrum of the welding arc is similar to that of the sun. Exposure of the skin and eyes to the arc is the same as exposure to the sun. (2) Being closest, the welder needs a helmet to protect his eyes and face from harmful light and particles of hot metal. The welding helmetis generally constructed of a pressed fiber insulating material. It has an adjustable headband that makes it usable by persons with different head sizes. To minimize reflection and glare produced by the intense light, the helmet is dull black in color. It fits over the head and can be swung upward when not welding. The chief advantage of the helmet is that it leaves both hands free, making it possible to hold the work and weld at the same time. (3) The hand-held shield provides the same protection as the helmet, but is held in position by the handle. This type of shield is frequently used by an observer or a person who welds for a short period of time. 4) The protective welding helmet has lens holders used to insert the cover glass and the filter glass or plate. Standard size for the filter plate is 2 x 4-1/4 in. (50 x 108 mm). In some helmets lens holders open or flip upwards. Lenses are designed to prevent flash burns and eye damage by absorption of the infrared and ultraviolet rays produced by the arc. The filter glasses or plates come in vario us optical densities to filter out various light intensities, depending on the welding process, type of base metal, and the welding current. The color of the lens, usually green, blue, or brown, is an dded protection against the intensity of white light or glare. Colored lenses make it possible to clearly see the metal and weld. Table 2-1 lists the proper filter shades to be used. A magnifier lens placed behind the filter glass is sometimes used to provide clear vision. A cover plate should be placed outside the filter glass to protect it from weld spatter. The filter glass must be tempered so that is will not break if hit by flying weld spatter. Filter glasses must be marked showing the manufacturer, the shade number, and the letter â€Å"H† indicating it has been treated for impact resistance. NOTE Colored glass must be manufactured in accordance with specifications detailed in the National Safety Code for the Protection of Hands and Eyes of Industrial Workers†, issued by the National Bureau of Standards, Washington DC, and OSHA Standards, Subpart Q, â€Å"Welding, Cutting, and Brazing†, graph 1910. 252, and American National Standards Institute Standard (ANSI) Z87. 1-1968, â€Å"American National Standard Practice for Occupational and Educational Eye and Face Protection†. (5) Gas metal-arc (MIG) welding requires darker filter lenses than shielded metal-arc (stick) welding. The intensity of the ultraviolet radiation emitted during gas metal-arc welding ranges from 5 to 30 times brighter than welding with covered electrodes. (6) Do not weld with cracked or defective shields because penetrating rays from the arc may cause serious burns. Be sure that the colored glass plates are the proper shade for arc welding. Protect the colored glass plate from molten metal spatter by using a cover glass. Replace the cover glass when damaged or spotted by molten metal spatter. (7) Face shields (fig. 2-2) must also be worn where required to protect eyes. Welders must wear safety glasses and chippers and grinders often use face shields in addition to safety glasses. (8) In some welding operations, the use of mask-type respirators is required. Helmets with the bubble front design can be adapted for use with respirators. c. Safety Goggles. During all electric welding processes, operators must wear safety goggles (fig. 2-3) to protect their eyes from weld spatter which occasionally gets inside the helmet. These clear goggles also protect the eyes from slag particles when chipping and hot sparks when grinding. Contact lenses should not be worn when welding or working around welders. Tinted safety glasses with side shields are recommended, especially when welders are chipping or grinding. Those working around welders should also wear tinted safety glasses with side shields. d. Protective Clothing. (1) Personnel exposed to the hazards created by welding, cutting, or brazing operations shall be protected by personal protective equipment in accordance with OSHA standards, Subpart I, Personal Protective Equipment, paragraph 1910. 132. The appropriate protective clothing (fig. -4) required for any welding operation will vary with the size, nature, and location of the work to be performed. Welders should wear work or shop clothes without openings or gaps to prevent arc rays from contacting the skin. Those working close to arc welding should also wear protective clothing. Clothing should always be kept dry, including gloves. (2) Woolen clothing should be worn instead of cotton since wool is not ea sily burned or damaged by weld spatter and helps to protect the welder from changes in temperature. Cotton clothing, if used, should be chemically treated to reduce its combustibility. All other clothing, such as jumpers or overalls, should be reasonably free from oil or grease. (3) Flameproof aprons or jackets made of leather, fire resistant material, or other suitable material should be worn for protection against spatter of molten metal, radiated heat, and sparks. Capes or shoulder covers made of leather or other suitable materials should be worn during overhead welding or cutting operations. Leather skull caps may be worn under helmets to prevent head burns. (4) Sparks may lodge in rolled-up sleeves, pockets of clothing, or cuffs of overalls and trousers. Therefore, sleeves and collars should be kept buttoned and pockets should be eliminated from the front of overalls and aprons. Trousers and overalls should not be turned up on the outside. For heavy work, fire-resisant leggings, high boots, or other equivalent means should be used. In production work, a sheet metal screen in front of the worker’s legs can provide further protection against sparks and molten metal in cutting operations. (5) Flameproof gauntlet gloves, preferably of leather, should be worn to protect the hands and arms from rays of the arc, molten metal spatter, sparks, and hot metal. Leather gloves should be of sufficient thickness so that they will not shrivel from the heat, burn through, or wear out quickly. Leather gloves should not be used to pick up hot items, since this causes the leather to become stiff and crack. Do not allow oil or grease to cane in contact with the gloves as this will reduce their flame resistance and cause them to be readily ignited or charred. e. Protective Equipment. (1) Where there is exposure to sharp or heavy falling objects or a hazard of bumping in confined spaces, hard hats or head protectors must be used. 2) For welding and cutting overhead or in confined spaces, steel-toed boots and ear protection must also be used. When welding in any area, the operation should be adequately screened to protect nearby workers or passers-by froman the glare of welding. The screens should be arranged so that no serious restriction of ventilation exists. The screens should be mounted so that they are about 2. 0 ft above the floor unless the work is performed at such a low level that the screen must be extended closer to the floor to protect adjacent workers. The height of the screen is normally 6. 0 ft (1. m) but may be higher depending upon the situation. Screen and surrounding areas must be painted with special paints which absorb ultraviolet radiation yet do not create high contrast between the bright and dark areas. Light pastel colors of a zinc or titanium dioxide base paint are recommended. Black paint should not be used. 2-3. FIRE HAZARDS a. Fire prevention and protection is the responsibility of welders, cutters, and supervisors. Approximately six percent of the fires in industrial plants are caused by cutting and welding which has been done primarily with portable equipment or in areas not specifically designated for such work. The elaboration of basic precautions to be taken for fire prevention during welding or cutting is found in the Standard for Fire Prevention in Use of Cutting and Welding Processes, National Fire Protection Association Standard 51B, 1962. Some of the basic precautions for fire prevention in welding or cutting work are given below. b. During the welding and cutting operations, sparks and molten spatter are formal which sometimes fly considerable distances. Sparks have also fallen through cracks, pipe holes, or other small openings in floors and partitions, starting fires in other areas which temporarily may go unnoticed. For these reasons, welding or cutting should not be done near flammable materials unless every precaution is taken to prevent ignition. c. Hot pieces of base metal may come in contact with combustible materials and start fires. Fires and explosions have also been caused when heat is transmitted through walls of containers to flammable atmospheres or to combustibles within containers. Anything that is combustible or flammable is susceptible to ignition by cutting and welding. d. When welding or cutting parts of vehicles, the oil pan, gasoline tank, and other parts of the vehicle are considered fire hazards and must be removed or effectively shielded from sparks, slag, and molten metal. e. Whenever possible, flammable materials attached to or near equipment requiring welding, brazing, or cutting will be removed. If removal is not practical, a suitable shield of heat resistant material should be used to protect the flammable material. Fire extinguishing equipment, for any type of fire that may be encountered, must be present. 2-4. HEALTH PROTECTION AND VENTILATION a. General. 1) All welding and thermal cutting operations carried on in confined spaces must be adequately ventilated to prevent the accumulation of toxic materials, combustible gases, or possible oxygen deficiency. Monitoring instruments should be used to detect harmful atmospheres. Where it is impossible to provide adequate ventilation, air-supplied respirators or hose masks approved for this purpo se must be used. In these situations, lookouts must be used on the outside of the confined space to ensure the safety of those working within. Requirements in this section have been established for arc and gas welding and cutting. These requirements will govern the amount of contamination to which welders may be exposed: (a) Dimensions of the area in which the welding process takes place (with special regard to height of ceiling). (b) Number of welders in the room. (c) Possible development of hazardous fumes, gases, or dust according to the metals involved. (d) Location of welders breathing zone with respect to rising plume of fumes. (2) In specific cases, there are other factors involved in which respirator protective devices (ventilation) should be provided to meet the equivalent requirements of this section. They include: (a) Atomspheric conditions. (b) Generated heat. (c) Presence of volatile solvents. (3) In all cases, the required health protection, ventilation standards, and standard operating procedures for new as well as old welding operations should be coordinated and cleaned through the safety inspector and the industrial hygienist having responsibility for the safety and health aspects of the work area. b. Screened Areas. When welding must be performed in a space entirely screened on all sides, the screens shall be arranged so that no serious restriction of ventilation exists. It is desirable to have the screens mounted so that they are about 2. 0 ft (0. 6 m) above the floor, unless the work is performed at such a low level that the screen must be extended closer to the floor to protect workers from the glare of welding. See paragraph 2-2 e (3). c. Concentration of Toxic Substances. Local exhaust or general ventilating systems shall be provided and arranged to keep the amount of toxic frees, gas, or dusts below the acceptable concentrations as set by the American National Standard Institute Standard 7. 7; the latest Threshold Limit Values (TLV) of the American Conference of Governmental Industrial Hygienists; or the exposure limits as established by Public Law 91-596, Occupational Safety and Health Act of 1970. Compliance shall be determined by sampling of the atmsphere. Samples collected shall reflect the exposure of the persons involved. When a helmet is worn, the samples shall be collected under the helmet. NOTE Where welding operations are incidental t o general operations, it is considered good practice to apply local exhaust ventilation to prevent contamination of the general work area. d. Respiratory Protective Equipment. Individual respiratory protective equipment will be well retained. Only respiratory protective equipment approved by the US Bureau of Mines, National Institute of Occupational Safety and Health, or other government-approved testing agency shall be utilized. Guidance for selection, care, and maintenance of respiratory protective equipment is given in Practices for Respiratory Protection, American National Standard Institute Standard 788. 2 and TB MED 223. Respiratory protective equipment will not be transferred from one individual to another without being disinfected. . Precautionary Labels. A number of potentially hazardous materials are used in flux coatings, coverings, and filler metals. These materials, when used in welding and cutting operations, will become hazardous to the welder as they are released into the atmosphere. These include, but are not limited to, the following materials: fluorine compounds, zinc, lead, beryllium, cadmium, and mercu ry. See paragraph 2-4 i through 2-4 n. The suppliers of welding materials shall determine the hazard, if any, associated with the use of their materials in welding, cutting, etc. 1) All filler metals and fusible granular materials shall carry the following notice, as a minimum, on tags, boxes, or other containers: CAUTION Welding may produce fumes and gases hazardous to health. Avoid breathing these fumes and gases. Use adequate ventilation. See American National Standards Institute Standard Z49. 1-1973, Safety in Welding and Cutting published by the American Welding Society. (2) Brazing (welding) filler metals containing cadmium in significant amounts shall carry the following notice on tags, boxes, or other containers: WARNING CONTAINS CADMIUM POISONOUS FUMES MAY BE FORMED ON HEATING Do not breathe fumes. Use only with adequate ventilation, such as fume collectors, exhaust ventilators, or air-supplied respirators. See American National Standards Institute Standard Z49. 1-1973. If chest pain, cough, or fever develops after use, call physician immediately. (3) Brazing and gas welding fluxes containing fluorine compounds shall have a cautionary wording. One such wording recommended by the American Welding Society for brazing and gas welding fluxes reads as follows: CAUTION CONTAINS FLUORIDES This flux, when heated, gives off fumes that may irritate eyes, nose, and throat. Avoid fumesuse only in well-ventilated spaces. Avoid contact of flux with eyes or skin. Do not take internally. f. Ventilation for General Welding and Cutting. (1) General. Mechanical ventilation shall be provided when welding or cutting is done on metals not covered in subparagraphs i through p of this section, and under the following conditions: (a) In a space of less than 10,000 cu ft (284 cu m) per welder. (b) In a roan having a ceiling height of less than 16 ft (5 m). c) In confined spaces or where the welding space contains partitions, balconies, or other structural barriers to the extent that they significantly obstruct cross ventilation. (2) Minimum rate. Ventilation shall be at the minimum rate of 200 cu ft per minute (57 cu m) per welder, except where local exhaust heeds, as in paragraph 2-4 g below, or airline respirators approved by the US Bureau of Mines, National Institute of Occupational Safety and Health, or other government-approved testing agency, are used. When welding with rods larger than 3/16 in. (0. 48 cm) in diameter, the ventilation shall be higher as shown in the following:

Pros study essays

Pros study essays How does Dickens portray a social comment in the book A Christmas Carol? Charles John Huffman Dickens was born in Portsmouth to a clerk who worked in the office responsible for navy salaries. His first, and happiest, years were spent at Chatham. However, his father was imprisoned in the Marshalsea prison for debtors and at age twelve he began working in a blacking warehouse. It was a miserable time for the young Dickens, and its themes recur frequently in his novels, where the Marshalsea itself features, and the mistreatment of children and child labour are common subjects. Subsequently, he worked as an office boy, then studied shorthand and reported House of Commons debates for the Morning Chronicle. A Christmas Carol was written during the peak time of what we call the Victorian era. During this time many families were living in different situations, as the book portrays. For instance there were very poor families, yet there were very rich families. Many people at this time were deciding to get married at this time, and the majority of people were living under the poverty line. Education was more of a punishment rather than a privilege as today, as children were sent there so that they were out of the house and not in the way. Many people were very interested in the super-natural at this time and the book portrays a good them of the supernatural. Also the book shows us how everyone can pull together and act in different ways at a time like Christmas. A Christmas Carol is a relatively short novel, set at Christmas. It is structured in five staves; introduction, past, present, future and resolution. It is set at Christmas because Christmas is a time when families and loved ones get together and celebrate. It may also be set at this time to show how people and families in the poorest of states can forget their worries at a time like Christmas. The plot ...

Characteristics of Language in Latino Community Essay

Characteristics of Language in Latino Community - Essay Example Latinos in the US are an example of a language community. Their main language is Spanish, but most of them adapted to English after they migrating to the US. Other than language, Latinos also share the same beliefs and cultural practices. The term Latino refers a section of the United States that originated from Latin America and the Spanish-speaking Caribbean. Latinos trace their history back in 1500 when Spaniards migrated to the US and settled in Texas, Florida and Mexico. Factors that contributed to their migration from Caribbean and Latin America in to the US included expansion of territory by the US, neoliberal economic policies in US, wars and military interventions, and forced cheap labour, among others.Moreover, the history of the Latinos has been overlooked and even forgotten in current discussions and debates over immigration, but it started developing in the late 1980s when more case studies were conducted in New York, Chicago, Texas, Los Angeles and other major cities. H owever, despite the fact that Latinos settled in the US and even adopted their culture, their proximity to the border, constant migration and close ties to their homeland helps them to replenish their culture (Stuart and Hirschberg 443).â€Å"Machismo† is a term that plays an important role among the Latino/Hispanic groups. They use it as a flattering word, which means courage to fight, honour and dignity, protecting ones name, keeping one’s word, respect for others, love for one’s family and affection for children....They use it as a flattering word, which means courage to fight, honour and dignity, protecting ones name, keeping one’s word, respect for others, love for one’s family and affection for children. It can also be used in order to influence a person’s behaviour and to distinguish between sexes. Other examples of word used by Latinos include Corazon which means heart in English, respecto-respect, dignidad-dignity, afecto-warmth and demonstratives, and sensibilidad-sensitivity. The Latinos are said to avoid competition or activities that set them apart from their own group. They claim that standing out among one’s peers places a person in great jeopardy; thus, it should be avoided as much as possible. Latinos say that European Americans are not trustworthy; hence, they teach their children to treat them with a lot of hostility and fear. For this reason, Latinos children do not believe that European Americans professionals want the best for them. Moreover, Stuart and Hirschberg (445), claim that Latinos children are not good at expressing themselves verbally; thus, they are not able to express their emotions to their friends, adults and authority figures. Properties of the Latino language community Since the Latinos started migrating into the US, their population has increased dramatically. Stuart and Hirschberg (448) claim that Latinos were estimated to reach 40 million and become the largest minority g roup in the US by 2010. The most affected states where Latinos have dominated are; New York, California, Texas and Florida. They are now transforming the Unite States into Latino dominated region due their increasing population. Also, they have significantly influenced culture, politics and economy of many states in the US.

Research of GEN George Washington, specifically focusing on leadership Essay

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Assignment 6.26 Example | Topics and Well Written Essays - 500 words

6.26 - Assignment Example The find it difficult to live in between two pay checks. Thus it is found that as per the theory of intersecting forms of dominion some get to live a harder life while others live a good life. According to the matrix of dominion it is stated that the experience of people regarding race, class gender and sexuality is different and dependent upon the social location of the people in the structures of race, class, sexuality and gender. In the example of waging a living it is therefore found that the 4 peoples who are talked about belong to different race, gender and color of skin. However all of them face the same difficulty when it comes to running their daily lives based on the wages that they earn. These people of different age groups and different levels of work are linked by the fact that despite working hard for living they feel that they are hustling backwards. The forces that are at act in waging a living are at one hand the forces that are acting towards the oppression of people on one hand and the determination and will of people on the other hand that is forcing or urging them to continue the fight. However the way they fight is different. However all of them have one thing in common and this is related to not resigning to their fates. There are various institutions that have an impact on the lives of the people. One is the government and its role in providing subsidy, then there are educational institutions that shape careers and determine the level of jobs which one gets and then there are unions through which people strive for a better living. The concept refers to the fact that there are multiple practices which leads to the creation of differing and unequal situations in relation to access and control over the means that are related to provisioning and survival (Acher, 2006). For example in the case of Barbara Brooks it was found that as

Weakness In Corporate Governance And Lack Of Transparency Accounting Essay

Weakness In Corporate Governance And Lack Of Transparency Accounting Essay Weakness in corporate governance and lack of transparency are considered causes of the Asian financial crisis. (Wan et al 2010 ). The corporate scandals happened in the early 2000s urged regulators around the world to suit the medicine to illness of the global financial stability by institute CG reforms. For instance, the Combined Code and the Sarbanes-Oxley Act were then introduced and enacted in UK and US respectively. As an international financial and business hub, Hong Kong is bound to take its share of the sweeping impact of the Asian financial crisis and the scandals. Hong Kong Stock Exchange determined to introduce the code of CG effective from 2005, with similar provisions on financial disclosures in the world. Most of the studies using US and UK data indicated that the quality of corporate governance practices has improved when firms comply with the provisions of the code. A survey conducted by a research team headed by Professor Stephen Cheung in Hong Kong generated a consi stent result with those studies; it indicated that the CG standard of Hong Kong listed firms had been improved obviously in 2005. 2.1.3. Earning Management While regulators aware the issues about CG after the scandals, the confidence of investors around the world who rely on the reported earnings on the financial statement to make their investment decisions have been significantly shaken. Earnings is always the most crucial indicator to evaluate how a firm performs. EM refers to manipulation of a firms earnings through direct or indirect accounting methods to achieve a desired level and that does not reflect the economic reality to mislead FS users about the corporate performance or gaining self-interest. In short, the practices of EM deter the credibility of financial reporting. There is tons of empirical researches evidence that good CG improve the transparency of the quality financial reporting which provides more decision-useful information to investors regardless of the geographical location of the listed company. Some of GCG mechanisms include the existence of independent board of directors, audit committee, no CEO duality, no Top Share (controlling shareholder), and shareholders coalition in order to face controlling shareholder. ( Werner R. Murhadi 2009). 2.1.4. The unique features of Hong Kong Firms. A global code of CG should not be applied as a standard among the world attributed to the unique settings of each jurisdiction. It is important for regulators and analysts to understand the unique features and regional conditions affect the incentive of managing earnings and the reporting quality. Therefore, Most of the researches have done to investigate the relationship between the CG practices and EM with US data, only a few o f them analyses about the issues in other regions. An assumption that a same result will be concluded when analyzing HK data is doubtful. The widely acknowledged family ownership concentration characteristic of HK listed firms is still considered as the major contributor of the failure of CG even after the introduction of the code. See the vote manipulation done by PCCW and the affair of Citic Pacific in 2009. 2.2 Literature review The research paper which examine whether the disclosure of Corporate Governance Structures affect the market valuation of earnings surprises and firms earnings management, Jui-Chin Chang and Huey-Lian Sun (2010), suggested that the effectiveness of corporate governance in monitoring earnings management is improved after the mandated disclosure. This finding is consistent with the result of the research on CG and earnings forecasts accuracy which supported that it is effective to enhance the quality of financial disclosure by revising the Malaysian Code on Corporate Governance to encourage public companies to implement good governance practices. (Ahmad-Zaluki et al 2010). However, Davies and Schlitzer (2008) in their paper raised the question about the practicality of an international one size fits all corporate governance code of best practice and the result of the paper implied that the acceptance of a global corporate governance code is limited due to the adaptations in the business environment. Ching, M.L.K. et al. (2002) in their research contended that CG mechanisms and monitoring and oversight activities will affect the use of EM, and the importance of these factors varies across firms and national jurisdictions. Because CG, the legal environment, and monitoring activities are far different in Hong Kong than in the U.S., research studies using American data have limited relevance for HK. A large proportion of HK listed firms are controlled by families. When most of the results of empirical researches supported the positive association between the CG mechanism and firms earnings quality, the unique features of Hong Kong is not being considered in those researches. A rare research done by Jaggi, B., et al. (2009) used samples before the adoption of code of corporate governance and find that a higher proportion of independent corporate boards of HK firms is associated with more effective monitoring to constrain EM by deterring managers from manipulating the reported earnings; thus the earnings quality is expected to be high despite differences in institutional environments. However, it is not the case of which the firms are family-controlled, either through ownership concentration or the presence of family members on corporate boards. 2.3 Objective While countless studies have already done with data of regions other than HK about the association between CG and EM, some of them have also emphasized on the identity of family ownership concentration in Asian regions. This study is done for the purpose of evaluating the effectiveness of the Code of Corporate Governance Practices effective from 2005 on reducing EM practices and improving earnings quality of HK Firms. Focus on the uniqueness of the Hong Kong Firms ownership structure to investigate whether mandatory disclosure of corporate governance structures improves the quality of financial information of Hong Kong family-controlled firms. 2.4 Statement of hypothesis 2.4.1 Indentifying Corporate governance The research generated by Dey, (2008) examined that different countries have different corporate governance structure. She considered twelve variables of corporate governance to measure different corporate governance structure, such as the effectiveness of the audit committee and duality of CEOs and so on. To determine corporate governance, we would use five variables including a majority-independent audit committee, a majority-independent board, financial professional having sufficient accounting experience on the committee, big 4 auditors and the separation CEO and chair position. 2.4.2 Audit committee and earning quality According to Hong Kong Exchange and clearing limited (HKEX), after the adoption of code of corporate governance effective that is in 2005, it is a must for Hong Kong listed companies to establish an audit committee, comprising non-executive director (NED) and having at least three members. Based on the research of Bedard, and Courteau (2001), the higher the percentage of independent non-executive director that are not managers in other firms, the higher the earning quality is. Thus, the hypothesis we develop should be: H1: There is positive relationship between the existence of a majority-independent audit committee and earning quality after the code 2.4.3. Independent board of director and earning management According to Liu and Lu (2007), they found that when preparing financial statement, the board of director can help to monitor and prevent controlling shareholder as this act may make damage to the other shareholder. Besides, the Hong Kong boards of director were by code at least three NED members as well. H2: There is positive relationship between the proportion of Independent non-executive directors on the board and earning quality after the code. 2.4.4. CEO duality and earning management According to R. Murhadi, Werner. Dr (2009), he found that if there is any job duality, it was less effective and strongly influence higher level of discretionary accrual. Anderson et al. (2003) found that earnings informativeness is positively associated with firms having separated CEO and chair positions H3: The existence of CEO duality positively influences the level of earnings management after the code. 2.4.4 Big 4 auditors and earning management The previous research done by Klein (2003) found that Big 4 auditors may shift some of their responsibility of monitoring financial reporting to firms audit committees after SOX. Therefore, there may be difference between discretionary accruals and Big 4 auditor in the before period of SOX. H4: There is a negative relation between earning management and proportion of Big 4 auditors after the code. 2.4.5 Experts in audit committee and earning management The Code in Hong Kong required that among the three members, it should include at least an independent NED with sufficient and appropriate financial experience. Xie, Davison, and DaDalt (2003) use pre-SOX samples to investigate that audit committee members having financial experience/background negatively influence discretionary accruals. H5: There is a negative relation between discretionary accruals and the existent of financial experts on audit committees after the code. 2.4.6. family control and earning management Due to the different expectations regarding the effect of family control on earnings management, Jaggi-Leung use pre-code sample to show that an increase in the proportion of outside directors to strengthen board monitoring is unlikely to be effective in family-controlled firms. The percentage of NED on the board to a total number of directors is counted 20% as cut-off point. H6: There is a negative relation between the existent of family ownership control and earnings quality after the code. 3.Methodology 3.1 Sample collection It is to search the WiseNews Database and HKEX website to collect the data for all Hong Kong Listed Firms in all industry for years before and after adoption of code which is accounting period of 2004-2005 and 2005-2006 respectively. 3.2 Research Design By using the financial data examined from the above database, it is decided to research all firms excluding banks, insurance and trusts companies as they manage earning obtaining different incentives and opportunities. (Peasnell et al, 2000) For testing earnings management, Dechow et al., 1995 suggested to use modified jones model to measure discretionary accruals. However, based on Kothari, Leone and Wasley (2005), in addition to the modified model, they use return on assets as one of variable so as to estimate accruals more accurately. It is cross-sectional regression by using two-digit SIC code, then find out the estimated coefficient by the following formula: (Total discretionary accrual) TACCjt = Â µ0+ Â µ1(1/ ATit-1)+ Â µ2 (DSale/ATit-1)+ Â µ3 (PPE/ ATit-1)+ Â µ4 ROAit-1- (1) Then, NON-ACCjt = ß1(1/ATjt-1) + ß2 (DSalesjt DRECjt)/ATjt-1 +ß3 (PPE/ATjt-1) +ß4 ROAjt (2) Then, calculating the discretionary accrual by using the following formula, DACCjt = TACCjt NON-ACCjt (3) Using the regression model to calculating the data before and after the code of corporate governance, DACCit = p 0 + 1 Auditindep + 2 BdIndep + 3 AccExp + 4 CEODua + 5 Big 4 + FAMOWN (4) Where: ROA = the ratio of net income to total assets FAMOWN = 1 if proportion of family members divided by total number director is greater than 20%, 0 for other than this case. BdIndep: The number of independent board directors calculated by the no. of board members AuditIndep: The number of independent audit committee members calculated by the no. of audit committee members AccExp: 1 for having financial professional experience and 0 for none and divided by the no. of audit committee members Big 4: It is an indicator of the Big 4 auditors. It is one if the firm was Big 4 accounting firms client and it is zero if not. CEODua: it may be 1 when CEO is the firms director of the board, 0 when it is not the case. 4. Time schedule Time Action January Finish the background of the problem and objectives Research data for methodology 1st 11th February Finish Methodology Collect data by using software i.e. Excel 12th 28th February Solve the problems that will encounter during the process of collecting data, such as, uncertainty about any data Analyze data and make result of the analysis March Write discussions Interpret the data what we find Finish recommendations, conclusions, summary of the project 1 4th April Finish the draft to supervisor 5 28th April Finish the reference lists Review and proofread the grammar, organization, format of project Amend some parts based on comments of supervisors

Is IAS12 too difficult to apply and understand? Essay

International Accounting Standards 12 continues to receive numerous criticisms on applicability and usefulness of numbers in accounting for corporate income taxes. The argument presented is that the standards set by IAS 12 are too hard to apply or even understand. In the plight of these criticisms, two accounting standards boards, UK’s (ASB) and Germany’s (GASB) opted to conduct a proactive project plan aimed at fundamentally reviewing the standards set by IAS 12 prove hard to solve through piecemeal amendment. Their main agenda was to look at critical issues of accounting for corporate income in an attempt to develop a discussion paper on the principles of IAS 12 and set out proposals. IAS 12 prohibits companies to give an account to deferred taxes by using the deferral method based on the income statement. It instead prefers the passive methodology based on the balance sheet. In addition to the above requirement, the standard requires corporations to acknowledge eithe r a deferral tax liability. Thirdly, IAS 12 requires recognition of deferred tax assets when it is certain that a corporation possess revenues in future to realize deferred tax asset. For instance, given that a company has a history of losses it will recognize deferred tax assets to the extent that taxable temporary expenses in amounts are sufficient. â€Å"Fourthly, IAS 12 does not allow asset credit and delayed tax liabilities brought about by types of material goods and liabilities whose books vary in amounts at the moment of acknowledgment† (IAS – 12). The other requirement is that IAS 12 prohibits recognition of deferred tax liabilities, and those liabilities encountered or arising from adjustments for conversion so long as it satisfies two conditions: * The main investor is capable of controlling the timing of reversal’s temporary difference. * It is certain that impermanent variation may become irreversible in the near future. Therefore, it is a requirement of the company to disclose information concerning cumulative amount of temporary variation involved. Further, IAS 12 recommends explicitly to adjustments to a fair value of assets and liabilities arising from a dual business combination. It however prohibits recognition of deferred tax liabilities because of initial recognition of good will. During revaluation of assets, IAS 12 allows and requires a corporation to recognize deferred tax liabilities in case revaluation of asset takes place. Moreover, IAS 12 requires that valuation of assets and deferred tax liabilities based on tax consequences that may arise in a manner that a company expects to recover the amount. â€Å"The standard also prohibits the deduction of deferred tax assets and liabilities to account for its current value† (Kirk, 2005). The IAS 12 further prohibits companies from making distinctions between the current and non-current assets and liabilities in its financial reports. It also provides restrictive conditions on debit and credit balances that represent deferred tax assets that could be compensated. This requirement is based on the requirements as stipulated by the financial assets and liabilities IAS 32, financial instruments disclosure and presentation. It is worth noting that among the new information IAS 12 requires disclosure include: * That for every class of impermanent disparity; * The amounts of assets and tax liabilities recognized and the amount of expenses or income labeled in the income statement with respect to discontinued operations, the realization of deferred tax asset depends on future prospects over the profits coming from reversals of existing impermanent parities. There has been a rise in criticism on financial reporting for income taxes from users and preparers. The criticism is based on the implication of the current and future effects it will have on cash flows. In their arguments, the users cite accounting requirements as too complex to apply in working out income tax. â€Å"In addition, the principles underlying IAS 12 standard exhibit numerous exemptions that finally compromise on its principles and requirements. Some users also argue against the notion that the principles underlying IAS 12 is flawed† (JORGE, 2008). However, they believe that the principles of IAS 12 are good but face a number of limitations arising from different a nd complex jurisdictions governing the various taxes in different parts of the world. â€Å"Due to these and other complexities, surrounding the applicability of IAS 12, there is a need to examine in reality the requirements of the principle is hard to apply in financial accounting and reporting† (Gupta, 2005). First, there is a need to examine significant improvements that can be incorporated to allow flexibility in application due to incompatibility with the various jurisdictions. To understand issues surrounding IAS 12, there is a need to understand problems cited as a limitation to its application. It is important to note that users and preparers believe that the requirements in IAS12 are unsatisfactory in certain aspects. In addition, users of financial reports do not find information courtesy of IAS 12 useful. In fact, complexity of taxes within corporations makes it quite difficult to assess its impact and prescribes suitable management strategies. As a result, clear and transparent information that is not adequately provided by IAS 12 prepared financial statements. â€Å"The standard seems to concentrate on extensive disclosures focusing on accounting technicalities relating to temporary differences rather than on aspects of real concern, for instance, current and future tax cash flows† (Greuning, 2011). The requirements provided by IAS 12 appear too difficult to apply in practice since they are unclear. Its relevance and understandability of information provided by the standard according to preparers is questionable. In the plight of these limitations, IAS 12 has proved hard to apply and understand and therefore a number of issues need to be addressed to make it better. Several strategies can be incorporated to address the limitations in the IAS12. * Amendments â€Å"Some amendments can be adopted to fix the limitations present in IAS 12 standard† (Everingham & Kana, 2008). These would address particular issues such as the current unsatisfactory requirements and disclosures provided in financial reports prepared under IAS 12. This strategy will protect the main principles of IAS 12. * Develop a new accounting standard- This is on different principles from the present IAS 12 standard. It is vital to note that developing an entirely different approach to accounting pose a considerable challenge. This is because developing a new approach that matches the standards of IAS 12 can take time but limited amendments can save credible amount of time and result in less disruptive time for change and complete replacement. The main question that users should ask to concern IAS 12 is whether the limitations should be addressed through limited amendments or by simply developing an entirely new standard that is based on different principles away from that which is addressed by IAS 12. In view of these strategies, some preparers disagree with the proposed changes. â€Å"This is because they believe that the limitations contemplated in the IAS 12 were not as serious to justify the expenses and efforts† (Delaney, 1985). Some amendments need change for instance; the current IAS 12 brings confusion in the relationships between the tax paid and current tax expense as reported in the income expense. In order to address the inefficiencies, the following questions need answers: * Should there be additional disclosures in IAS 12? Moreover, will these disclosures help in solving the misunderstanding between the taxes paid and current tax expenses? * â€Å"Should strategies on tax accommodate user information needs?†(Choi, 2001) * If a new standard different to IAS 12 was to be adopted in preference to amending it, will the new system deliver up to the expectation of income tax determination? Will the new approaches pose a challenge when it comes to implementation? It is important to note that, the use of IAS 12 is a complex affair since the users have limited knowledge on the limitations and intrigues surrounding its use on tax issues and end up struggling using the information as it is without caution and end up messing. Moreover, dealing with the challenges is not a straightforward venture. Uncertainty of taxes in financial statements is of utmost interest to users and is therefore more interested on how to reflect tax risks in financial reporting. In addition, IAS 12 neither provides explicit guidance nor gives specific disclosures on accounting for uncertain tax positions. â€Å"It only gives provisions that current tax liabilities at the amount expected to be paid tax authorities using the tax laws enacted at the balance sheet date on rates specified for different nations. This implies that the amount recognition is based on estimates owed or realized† (Balthazar, 2011). Conclusion In conclusion, IAS 12 has numerous loopholes that should not be ignored. This is because it creates a large gap between the requirements as suggested by IAS 12 standard as compared to what is needed by users for purposes of predicting future tax cash flows. These user needs may not be met through additional disclosures in financial statements rather other parts of company report may be used to provide a secure location for that kind of information. References: BALTAZAR, E. (2011). International GAAP 2012 Generally Accepted Accounting Practice under International Financial Reporting Standards. Chichester, West Sussex, U.K., John Wiley & Sons. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=420730 CHOI, F. D. S., MEEK, G., & FROST, C. A. (2001). International accounting. Upper Saddle River, N.J., Prentice Hall. DELANEY, P. R. (1985). GAAP. New York, J. Wiley & Sons. EVERINGHAM, G. K., & KANA, S. P. (2008). Corporate reporting. Sunninghill, PricewaterhouseCoopers. GREUNING, H. V., SCOTT, D., & TERBLANCHE, S. (2011). International financial reporting standards: a practical guide. Washington, D.C., World Bank. GUPTA, K. (2005). Contemporary auditing. New Delhi, Tata McGraw-Hill. â€Å"IAS – 12 – World GAAP Info.† Web. 17 Feb. 2013 . INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE. (2000). Revisions to international accounting standards: IAS 12, Income Taxes; IAS 19, Employee Benefits; IAS 39, Financial Instruments: recognition and measurement and other related standards. JORGE FAUSTINO, S. M. (2008). Implementing reforms in public sector accounting. Coimbra [Portugal], Università © de Coimbra. KIRK, R. J. (2005). International financial reporting standards in depth. Volume 1, Theory and practice. Amsterdam, Elsevier/ Butterworth Heinemann/CIMA Pub. http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=166355 LAWRENCE, S. (1997). International accounting. London [u.a.], Internat. Thomson Business Press. NOBES, C., & PARKER, R. H. (2008). Comparative international accounting. Harlow, Essex, England, Prentice Hall/Financial Times. OPPERMANN, H. R. B. (2009). Accounting standards. Lansdowne, Juta. PADMAVATHI, C. (2005). Accounting standards: towards harmonization and convergence. Hyderabad, ICFAI University Press. PRICEWATERHOUSECOOPERS. (1998). International accounting standards: applying IAS 12, income taxes, in practice. [Londres], PricewaterhouseCoopers. POWER, M. (2007). Organized uncertainty: designing a world of risk management. Oxford [u.a.], Oxford Univ. Press. WIECEK, I. M., & YOUNG, N. M. (2010). IFRS primer: international GAAP basics. Hoboken, NJ, John Wiley & Sons ZIMMERMANN, J., WERNER, J. R., & VOLMER, P. B. (2008). Global governance in accounting: rebalancing public power and private commitment. Basingstoke [England], Palgrave Macmillan. (2007). International accounting and reporting issues. New York, United Nations Publication (2008). Relationships with the state: proposed amendments to IAS 24 : comments to be received by 13 March 2009. London, U.K., International Accounting Standards Board. (2009). International Financial Reporting Standards IFRSs 2009

Political Issues Essay

Political and Social Apathy, there are two faces of apathy. The first considers apathy as a choice and participation in public life a consequence of one’s affirmative use of freedom. The second face of apathy arises when citizens are led to believe that their personal needs are not part of the political agenda, resulting into political deprivation and the reaffirmation of the status quo. Philippines political and social life is marked by the second kind of apathy, which might also arise from the belief that individuals are powerless and hopeless in making significant changes in their lives. For this reason, the paper would like to awaken reflection on apathy in the personal and public spheres and to outline ways by which the individual can move towards sympathy. It is the intention of this paper to show contemporary Filipinos can find his passion again in order to move out of apathy. The paper will explain the rationale behind the development of the Philippines social and political issues. The Philippines is faced with a number of issues that concern our organization. We are passionate about raising awareness of these issues, and developing grass-roots solutions. Poverty, unemployment and environmental legislation are the major issues facing the country, and these problems have resulted in a large number of Filipinos moving overseas for work. We believe social entrepreneurship can help address some of the issues facing the Philippines at the moment. Read more:Â  Political Issues in the Philippines Essay

Thomas Kuhns Paradigm and its Application to Modern Politic essays

Thomas Kuhns Paradigm and its Application to Modern Politic essays When Thomas Kuhn released his book, The Structure of Scientific Revolutions, in 1962, he instigated his own revolution within the history of science. Dramatically altering the manner in which science was viewed, Kuhn established the concepts of paradigms, anomalies, crises, and revolutions as the central operating mechanisms of scientific progress. He radically diverged from the previous belief that science was cumulative. Instead, he placed less emphasis on the accumulation of evidence and gave more credence to intellectual fights over theory. James Franklin compares Kuhns paradigm theory to the classic novel, the Morte dArthur. Current scientific institutions are the peaceable order and its aging king, their virtue undermined by internal corruption, falling to the challenge of the vigorous and bloodthirsty young challenger (Franklin, 2000). Though this is certainly a more exciting image of science than that of white-coated intellectuals intently charting the contents of test tubes, Kuhn is in reality more modest in the scope of his revolutions. Kuhn views them as often relevant only to those scientists in the field and sometimes almost invisible. However, what is truly exciting is extending the application of paradigm theory beyond the hard sciences to the social sciences like philosophy, history, sociology, and politics. To the extent that the book portrays scientific development as a succession of tradition-bound periods punctuated by non-cumulative breaks, its theses are undoubtedly of wide applicability (Kuhn, 1996, p. 208). At its core, paradigm theory is essentially an epistemological model, and after a discussion of The Structure of Scientific Revolutions, an analogy to current American political affairs will further enlighten Kuhns concepts. Kuhns book is meticulously organized. Chapter by chapter, his conception of scientific revolutions unfolds. He begins with ...

Roman Mythology Essays - Religion, Greek Mythology, Mythology

Greek/Roman Mythology Essays - Religion, Greek Mythology, Mythology Greek/Roman Mythology Parallelisms Between Greek and Roman Mythology Greek and Roman mythology have many similarities between them. Each type has there own set of Gods and Goddesses, although they were worshiped for similar reasons. The following will explain each God or Goddess and explain how they compare to each other. The King of Gods in Greek Mythology is known as Zeus. Zeus was the ruler of the sky, and had the power to create thunderstorms and lightning as well as earthquakes. He was the child of Cronus and Rhea. As the story goes he was their sixth child, and the father to protect him from being overthrown had eaten the five previous children. Zeus was taken to a city called Crete and hidden from his father. As Zeus grew older and learned of what happened he found a potion to make his father regurgitate the other children. Once this happened they all teamed up and killed their father. Zeus then became the ruler of Mount Olympus, and head of the new line of Gods. Jupiter was the predominant power holder of Roman Gods. He was ruler of the sky, the daylight, all the weather, and even the thunder and lightening. Jupiter helped drive back the Sabines. His temple was built in the Capitol, and newly elected counsels offered their first prayers to him. Hera was the wife and sister of Zeus, and the High Goddess of the Greeks. She was extremely jealous of the affairs that her husband was having and often tormented or harmed the mistresses he was fooling around with. Although, when she went too far, or tried to cause death, Zeus would intervene and stop her. Hera tried to ship wreak Heracles on his return from Troy, and with that Zeus had her hung by the wrists from top of the mountain with an anvil tied to each ankle. The two had four children together. Juno, Heras counterpart, was the wife of Jupiter. Juno was the protector of women, especially those who are married. Women often gave offerings to Juno to help with their childbirth. The God of the Underworld, Hades, was the brother of Zeus. He gained Hell, as his share in conquering their father. He is most known for kidnapping his wife, Persephone, while she was picking flowers in a field. As the story goes, Hades had her eat a piece of food in the Underworld, therefore she could not live on the Earth again. Her father, Zeus, made arrangements for her to be allowed on Earth for two-thirds of the year and in the Underworld as Hades wife for the rest of the time. This is used as the cause of spring and winter. When she returns to the surface she brings spring with her and when she returns to the Underworld she leaves winter behind her. Pluto, the Roman God of the Underworld, whos name also means rich. It reflects the rich mineral

Reflections on Connection of Chemistry to Franciscan Values Research Paper

Reflections on Connection of Chemistry to Franciscan Values - Research Paper Example In school, the value of transformation transcends what is merely physical for the necessitated change comes with spiritual maturity and accountability for others since our transforming thought and act affects not only our state of well-being but as well as our circle of influence within the society. It is, however, saddening to learn that in the modern world of the present, transformation rather bears with it a more physical meaning or something identified as chiefly material in nature. There widely exists, for instance, an extensive research on chemical substances and methods by which to reverse spontaneous reactions and defy aging thereafter yet the main underlying objective has been to improve the quality of commerce and trade for further acquisition of profits by prominent industries. Through recent discoveries in chemistry, majority of us have managed to obtain knowledge and experience of the latest in anti-aging technology and beauty phenomenon. As such, the market of chemical and pharmaceutical goods largely consist of items like BB creams, firming and lifting gels, reconstructing serums, whitening soaps and pills, and other skincare products or services coupled with attractive laser technologies that most people particularly the female population buy into. In the article â€Å"One Chemist’s Accidental Anti-Aging Discovery† by Nina Elias, the author expresses â€Å"What if there was a single naturally occurring ingredient that could fuel a plane, replace saturated fats in baked goods, and repair wrinkles?† Herein, she makes reference to the environment-friendly algae that addresses both health and beauty concerns and somehow, her illustration of the value of transformation coincides with the Franciscan’s insight into transformation with responsibility as the biotech company Solazyme, according to Elias, has come up with innovative solutions which ensure no hazardous impact toward the ecological surroundings. On the other hand, the cosmetic inventions presented via the brand Etude House exemplify a kind of transformation focused on the sole enhancement of external looks and which makes no sensible agreement to the Franciscan attribute of change which ought to include internal foundations of beauty. Moreover, the findings demonstrated in the article â€Å"Can This Drink Save Your Skin?† by Kiera Aaron, nevertheless, may be claimed credible compared to the aforementioned sources in being further responsible to convey the truth despite the product benefits. While Aaron’s composition recognizes the advantage of transformation with respect to drinking collagen, he criticizes the product by using perspectives of other specialists who performed cross-examination of it. Based on this picture, one must have observed the attitude of courage to reveal the truth besides regard for transformation which also constitutes a Franciscan principle. â€Å"Diversity†, as another Franciscan value of choice may be perceived in the flexibility of allowing student body to be variedly comprised of distinct socio-cultural backgrounds to serve the dynamic interest of globalization in helping youth from all over the world unite with each

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Complex project management - Essay Example Thus, in order to attain greater success in terms of completing the construction of a new hotel project in Oman will require the structuring of an appropriate plan based on which all the materialistic and financial resources requirements will be taken into concern (Aikins & et. al., 2014). The primary stage of this new hotel construction project in Oman will focus on evaluating and understanding all the governmental requisites and registration procedures that will be required for moving forward the entire plan. Taking reference of the hierarchical governmental structure prevailing in Oman, it can be stated that the nation takes into concern the fulfilment of a variety of permissible requisites before authorizing any such tourism and hospitality sector development based plan (Sultanate of Oman Ministry of Tourism, 2010). Depending on all these aspects, this new hotel construction project will have to attain its primary registration from the ‘Ministry of Tourism (MOT)’, which in turn will consider the decisions made by the following other governmental departments: In addition, the integrated form of decisions that will be made by the aforesaid governmental departments will be completely based upon the guidelines as mentioned in the ‘Royal Decree No. 65/2007 (Article 3).’ Likewise, the project development team will also have to abide by all the provided guidelines, which are specifically meant to guide them through each phase of the hotel construction including the design and the quality standards. As far as the legal aspects are concerned, it can be stated that within Oman, the Ministry of Tourism is completely accountable for approving such projects against all legal obligations. Regardless of these, the project will also need to adhere certain legalised acts and contracts based upon which, the environmental and societal impacts of such hotel construction projects will be