Using the Best of Computer Based Writing Software For Writing Your Admissions Essay

Using the Best of Computer Based Writing Software For Writing Your Admissions EssayIt is very important to check the work of the computer based writing software, before you write your own admission essay for your degree program. Before selecting your preferred degree program, it is very essential to look for the best program details.While writing your own admission essay for your degree program, one of the most effective ways is to use a quality curriculum writing tool, such as a computer-based software, to assist you to develop the relevant content and give you the discipline to manage your material. In this article, I will be looking at the Dyson AEM sample admission essay, which can be used to help you gain knowledge about how to write an admission essay for your degree program.The Dyson AEM sample admission essay contains sample essays which can be helpful in the right direction. If you are not very familiar with the components and functions of computer based writing software, th ere are plenty of sample essays available for you. All you need to do is download the software and copy the sample entry into your word processing program, or any other acceptable word processing software.There are many benefits in using the Dyson AEM sample admission essay, which can be gained from the usage of the computer-based software. You can receive immediate feedback from the teacher and you have a basic knowledge about writing articles.The Dyson AEM sample essay is based on a college-level English composition. In fact, if you use the right software, you will easily be able to manage the job of writing an essay on your own.These admission essays can also be used to teach students, because they will be very useful for them to acquire the fundamentals of writing a college-level essay. It is always important to practice writing the application essay for your desired degree program, which can be very beneficial to the future students, as these essays are fairly easy to do, and c an be used to manage your studies and become more confident.If you need some help, then you can ask the staff of the university where you wish to study to assist you in writing your admission essay. The deadline for the application for admission of the next year may not be an issue anymore, because the program details have been released by the respective universities.

Sequencing Bacterial Genome

Popular Chainsaw Brands You Can Buy on Amazon

Popular Chainsaw Brands You Can Buy on Amazon A survey was conducted several years ago to determine the popularity of chainsaw brands used by woodsmen users in the United States. Listed in the survey included both dealer-supported saws and big box saws sold at local hardware chains. The list also included boxed products to include Poulan, Craftsman, Remington, Hitachi as well as dealer-sold saws including Husqvarna, Stihl, Jonsered, and Echo. Husqvarna Barely Beats  Stihl One interesting observation in the survey was that dealer-serviced saws topped the popularity list. With over 3,100 votes cast, Husqvarna was narrowly selected over Stihl as the chainsaw of choice voted on by Forestry readers. Here are the percentages of preference and ranked by saw brand: Husqvarna - 41%Stihl - 40%Jonsered -  7%Echo - 4%All others - 8% Voting for a favorite saw was extremely close between the first and second place brands. Husqvarna and Stihl are by far the most popular saws in America according to this survey. Although this was not a scientific survey, these saw brands were acclaimed to be the preferred saws of the survey readership; most, if not all these models, have high ratings. It should be noted that industry competition and availability of dealers change as do these rankings locally. It has become obvious over the years that a local branded service center increases sales. Buying available service with a warranty guarantee is as, if not more important than the price paid for the chainsaw. A power tool will malfunction over time and you will need service and parts over the life of the saw, as noted by power equipment dealer Tom Bernosky in a saw industry trade magazine. â€Å"Always remember when buying any machine, buy from somebody who can service. You will only hurt yourself and your business by buying something at a mart-type store. I’m not saying you can’t buy mail order, just make sure they do the service work. If they don’t, your warranty isn’t worth the paper it’s printed on.† Tom Bernosky Latest Chainsaw Medium Power Picks For non-professional but regular chainsaw users, several models are recommended. Power models are usually heavier, have more cubic centimeters of displacement (- 40 ccs) and tend to come standard with 16 bars. These saws are primarily picked by resource managers, forest and landscape owners, and businesses who use saws regularly but are not professional timber fellers. They will cost slightly more than smaller saws and are typically on sale from between $250 and $350 each. See the top most voted for chainsaws below. Voted #1:  Husqvarna Saws Swedish company Husqvarna builds chainsaws for both the professional and casual user and is available for purchase on Amazon. A Husky saw has excellent power-to-weight ratios but does not compromise on a slim saw body design and on lightness. Husqvarna saws are built with LowVib, Air Injection, and a Smart Start function that makes them very easy to start. All saws have mandatory safety features and offer  a variety of chainsaw for every requirement. The recommended top bargain power model  is the Husqvarna 440E Chainsaw. Voted #2:  Stihl Saw Germanys Stihl has been in the chainsaw business for over 70 years but only sells through exclusive dealerships. They have developed a slim saw form and continually develop  significant advances in saw technology. The Stihl saw has an anti-vibe technology for fatigue free operation and they claim to be leading manufacturer of saws worldwide. All saws have mandatory safety features and offer  a variety of chainsaw for every requirement. The recommended top  bargain power model  (Consumer Reports Listing)  is the  Stihl MS 180C Chainsaw. Voted #3:  Jonsered Saws Jonsered’s from Gothenburg, Sweden and has been producing wood processing machinery since the 1880’s. Dealerships have not been fully developed in all areas of North America but are great saws  if backed up by a local dealer and are sold online. The Jonsered actually produced the prototype for today’s modern one-man chainsaw. The recommended top  bargain power model  is the  Jonsered CS2238 Chainsaw and can be purchased on Amazon. Voted #4:  Echo Saws Echo is Japans leading manufacturer of chainsaws and sells to professionals and casual private users alike. They are currently challenging the bigger companies from Germany and Scandinavia. Echo has earned a following among power saw users for giving outstanding performance and dependability. The recommended​​  power model  is the Echo Chainsaw CS 310.

Men's magazine and the gender represent in its industry Thesis

Men's magazine and the gender represent in its industry - Thesis Example magazines available in Australia tended to be a little biased in their projection of the contemporary male identity, giving more coverage to a specific ethnicity, and highlighting the views and preferences of that ethnicity. No wonder, such an approach towards the representation of male identity typically stereotyped the notions of male identity. In that context, this portrait shoot indeed managed to dilute such stereotypical representation of Australian men, bringing in a multicultural perspective, which is essentially an Australian concept. A. Well, nobody will deny the fact that Australia is a vibrant multicultural society. However, one essential aspect of multiculturalism is that people affiliated to different ethnicities and pursuing the same professions do tend to have different needs, aspirations and expectations. Yes, I do believe that the way people tend to project themselves and the way they manage their outlook is to a large extent shaped by where they were born and how they were raised and brought up. In that sense the given portrait shoot has successfully managed to project this fact. This portrait shoot has been able to make a successful use of the lighting, photographic techniques and color scheme to bring out the variations inherent in the selected four men, thereby on the one side highlighting the commonalities inherent in the standard image of an Australian male, but, at the same time, building on the ethnic typicality and variations of the four subjects in a way that celebrates their ethnicity and cult ure. I must say that in this sphere, this portrait shoot is indeed innovative and remarkable. A. Well, when I consider the fact that this portrait shoot had been compiled by a female artist, I find it both regular and insightful. In a way this portrait shoot is regular in the sense that the compiler has adhered to the basic fundamentals of photography and lighting, and it does not make it any special in comparison to any other artist, be it a male

Darwins theory of evolution Essay Example | Topics and Well Written Essays - 250 words

Darwins theory of evolution - Essay Example versity in life comes from natural selection, essentially meaning that those organisms of a species that are best suited to their environment are more likely to succeed in reproduction. Due to this, the traits of those individuals that ensure that they are best suited to their environment become more frequent in the population and can eventually become the norm for that species. Darwin came up with this theory with no knowledge of genetics. It is interesting to see this theory be put to work, as although genetics and genome theory have altered and adapted Darwins theory, the basic principles are the same. In the recent National Geographic article, for example, an article about the domestication of the silver Siberian fox. Nine generations ago, the relatives of the silver foxes at this farm were wild, but now they crave human attention like a Labrador. The researchers here have been selectively breeding the foxes with the traits most desirable in a pet – friendliness, loyalty and companionship. The speed at which they have become similar to standard domestic dogs has shocked the researchers. This is exactly what Darwin found and expressed in his book The Variation of Animals and Plants Under Domestication, showing that Darwin recognized this capability when developing his theory of

Risk Management To Avoid Delays In Road Construction Construction Essay

Risk Management To Avoid Delays In Road Construction Construction Essay The challenges in the construction industry are of same nature irrespective of geographic locations. The areas of concern in construction project management are timely completion of projects within the allocated cost, also serious concerns about resources utilization and project planning/control measures. Risk management is the art or practice of dealing with risk. It includes planning for risk, assessing (identifying analyzing) risk issues, developing risk handling strategies, and monitoring risks to determine how they have changed. My core area of works is in the field of engineering consultancy for various road projects in Dubai, which includes project planning and monitoring the performance of these projects, most of the times we face delays as well as cost overrun at these projects. Intension of doing the project works in this area is to form a procedure/systematic approach for identification and management of various risks in the road project with the help of various lean tools and TOC concepts. The risk management is not new to the organizations where as there is lack of awareness and systematic approach towards it. Risk management plan is successfully being implemented in Banks, Oil Companies, Health care etc also the IS 31000 suggests the frame work which can be implemented in any kind of industry irrespective of type place. IS 31000 guidelines can be modified as per the specific industry requirements. (Ref ISO 31000 page v Introduction) Risk is an uncertain event or condition that, if it occurs, has an effect on at least one of the following project objective; Complete Project in allocated time Complete the project in allocated budget Maintain all quality standards as per Quality Management Plan Cover entire scope of works Project has known as well as unknown risks, in which known risks are considered for the risk management plan which can be identified, analysed and response plan can be prepared but to handle unknown risks we can have a contingency plan ready. The project work will require access to highly sensitive data of RTA (Road Transport Authority Dubai ) Parsons Overseas Ltds road projects and use of these data will be limited up to academic purpose only. Working with the various road projects in Dubai, I first derived the basic data which shows how many projects are delayed in terms of time/days as well as how much more the client has to pay for these projects other than the budgeted cost. (Ref Chart 1 for Days Chart 2 for Cost) Chart 1 Chart 2 The data above is taken from ten road projects in Dubai which clearly suggests that the delay in days has caused the respective increase in the cost this cost also may include the variation in scope. Causes behind the delay in these kinds of projects are external as well as internal, e.g. the global recession has caused client (RTA) to change the policy in terms of executing some projects, changing the priority, suspending some works etc is an external factor for the road projects where as the delay in material purchase is an internal factor. My work is more focused on the internal operational risks in these projects, where the data base in of ten RTA road projects will be used where as the sample risk management plan will be prepared based on ongoing project R800/6 for analysis purpose. Also the risk management plan for occupational Health safety as well as environmental risks are not considered for this exercise. Objectives behind Risk management plan Encourage Proactive rather than reactive management Be aware of the need to identify and treat risk throughout the organization Improve identification of opportunities and threats. Comply with relevant legal and regulatory requirements and international norms Improve reporting Improve corporate governance Improve stakeholders confidence trust Establish reliable basis for decision making and planning Improve Control Effectively allocate and use resources for risk treatment Improve operational effectiveness and efficiency Improve incident management and prevention Minimize loss Improve organizational learning RISK MANAGEMENT STRATEGY PARSONS GOALS Lead industry in Safety Continuously enhance the value of Parsons Corporation Maintain sustainable growth consistent with the demand in each market Grow consolidated net operating income and sales at least 10% annually Maintain a strong balance sheet. PARSONS STRATEGY Provide responsive, high quality service to our customers Develop long term relationships with customers who share our values. Promote best value solutions to our customers This document describes how we will perform the job of managing risks for RTA road projects in Dubai. It defines roles and responsibilities for participants in the risk processes, the risk management activities that will be carried out, the schedule and budget for risk management activities, and any tools and techniques that will be used. The objective behind this plan is to give systematic approach to identification, analysis, and monitor the various risks involved in the construction of Road/Bridge projects in Dubai and to avoid delay in the project. The risk identification at design phase is not considered for the exercise; largely emphasis is on construction activities. As a part of continuous improvement this plan has to be updated bimonthly or whenever necessary modifications are need to be done, with the consent of Risk Management team. SCOPE OF SAMPLE PROJECT This project is a component of the overall R800 Project Ras Al Khor Crossing Corridor. This Contract matches R800/5 Contract on one side. It involves the construction of a major grade-separated interchange to replace the existing Interchange No. 1 at Shaikh Zayed Road. The new interchange involves the construction of several bridges and underpasses to allow free flow of traffic and caters for the high volumes of traffic that will access new developments such as the Burj Dubai Developments, Business Bay and Dubai International Financial Center (DIFC) from Shaikh Zayed Road. The bridges of this project are connected to the elevated viaducts above Doha Road that will be built as part of Contract R800/5s. The existing Interchange No. 1 structure will be demolished as part of this project The project also include the construction of roadway signage and pavement marking, landscaping, street lighting, irrigation ducts, diversion and/or protection of services such as DEWA-ED, DEWA Water, Etisalat, Sewerage, Storm Drainage and Irrigation Systems. Engineer M/s Parsons Overseas Limited Contractor M/s Salini Costruttori S.p.A. Contract Sum (Dhs.) AED 617,871,651.00 Project Commencment Date 11 October 2006 Contractual Completion Date 28 March 2009 ( Work is in Progress ) Time of Completion 730 Days ROLES AND RESPONSIBILITIES The risk management team is not a separate task from the project management; it is an integral part of the project and requires team work. So as the construction team at project site is the part of risk management plan, where as to organize this work following members are assigned certain responsibilities. TEAM MEMBER RESPONCIBILITY PROJECT MANAGER RESIDENT ENGINEER Form a risk management team Review the risk management reports Decide a mitigation / contingency plan. Decision making. Review the exposure assessments for any new risk items. The Project Manager and other members of the Project Management team shall meetbiweekly suggestedto review the status of all risk mitigation efforts. RISK OFFICER PLANNING ENGINEER The Risk Officer has the following responsibilities and authority Coordinating risk identification and analysis activities. Maintaining the projects risk list. Notifying project management of new risk items Reporting risk resolution status to management. Project Member Assigned a Risk Civil Engineer, Structural Engineer Quantity surveyor Material Engineer The Risk Officer will assign each newly identified risk to a project member. Assess the exposure and probability for the risk factor and report the results of that analysis back to the Risk Officer. Assigned project members are also responsible for performing the steps of the mitigation plan and reporting progress to the Risk Officer biweekly. ROJECT RISK MANAGEMENT PROCESSES PLAN RISK MANAGEMENT This is the controlled document to be prepared which suggests how to conduct risk management for projects. Risk planning is important to provide enough resources time for risk management activities. To start the risk planning the following major inputs are necessary; Scope of project Schedule management plan Cost management plan Communication management plan The output of this process in a Risk Management Plan which can be modified as the project progresses also as the project scope changes. Risk management plan includes; Methodology How to approach the risks, what are the tools to be used, data sources to be used in order to perform risk management. Roles Responsibilities Risk management is not an individual task it is a team work. Organization chart to be prepared. Budgeting Assign resources, estimates funds needed for risk management in case of contingency plans if any. This part we are not considering at present for our risk management plan assuming the budgeting is readily available. Timing Establish the review for RMP during tenure of the project as well as establish a mile stone to prepare and approve RMP before the commencement of actual project woks. Risk Category Prepare a Risk Break down structure that can provide a systematic approach to identify risks from different categories from the RBS. Risk Probability, impact and matrix The risks for qualitative as well as quantitative analysis can be measured as a defined scale and the specific combinations can be rated for planning response. Reporting Out come of the risk management processes to be documented and reported. Tracking How risk activities will be recorded for the benefit of the current project as well as for future needs and lessons learned, as well as the audit of the risk management processes. IDENTIFY THE RISKS The risk identification information is to be collected from all departments using tools such as document review, unstructured interviews, check list, assumptions, and experience from old projects. The risk team can extend this task to all other projects team members in identifying the risks then it can be compiled together to prepare a risk register. The risk identification can be initiated by forming a risk breakdown structure. RISK BREAK DOWN STRUCTURE As per the project scope and nature of the project the risk breakdown structure can be prepared, for the sample project the risk are identified using the following risk breakdown structure. RISK REGISTER Once the risk break down structure is final then the risk identification can be done and can be listed in the following format called Risk Register. Sr No Risk Risk WBS Probability Remark 1 132 kv electic line relocation Obs Utility 0.9 Obstructing NW bridge 2 1200mm dia water line Obs Utility 0.9 Bridge work 3 Sewerage line Obs Utility 0.9 Can delay the traffic diversion 4 Etisalat Line Obs Utility 0.75 Obstructing NW bridge 5 Mobilization Res- Manpower 0.4 Overall project 6 Trial Trench works Int- Authority Approvals 0.8 Utility Relocation works 7 Traffic Diversion scheme implementation Obs- Traffic Diversion 0.9 Utility Relocation as well as bridge works 8 Toyota Building Obs- Expropriation 0.8 Traffic Diversion 9 Diversion of the Existing 600mm 300mm Water Diversion Obs Utility 0.8 affecting bridge UW3 10 Programme submission and approval PM- Planninng 0.8 Overall project 11 132 Kv electric line, water pipe valves , irrigation pipe valves , long lead material Int- Material 0.8 Relocation works 12 Soil investigation , Pilling, Rebar subcontractor finalization Int-Subcontractor 0.8 Road Structure works 13 Plant machinary Res- Machine 0.4 14 utility line crossing along Sheikh Zaid Road Int-Method Statement 0.3 Special works required 15 Change in design Int-Scope 0.5 QUANTITAVIE RISK ANALYSIS ( Monte Carlo Simulation ) Monte Carlo simulation is a statistical method used to produce number of trials to determine the expected value of a random variable. The Risk register mentioned above indicates a variable Risk Probability the major task in a risk management plan is to ascertain the probability right. The above variable can range from minimum to maximum probability limits which are taken from individual interviews as well as the experts opinion. Aim of the simulation exercise in to derieve Expected probability value. This exercise is done on MS Excel separatly results of which are attached in Appendix D First step is to prepare a table as shown below which Sr No Risk Probability Minimum Probability Maximum 1 132 kv electic line relocation 7 10 2 1200mm dia water line 6 10 3 Sewerage line 5 10 4 Etisalat Line 4 8.5 5 Mobilization 4 4 6 Trial Trench works 6 9 7 Traffic Diversion scheme implementation 7 9 8 Toyota Building 6 9 9 Diversion of the Existing 600mm 300mm Water Diversion 6 9 10 Programme submission and approval 2 2 11 132 Kv electric line, water pipe valves , irrigation pipe valves , long lead material 4 6 12 Soil investigation , Pilling, Rebar subcontractor finalizatin 4 7 13 Plant machinary 3 6 14 Utility line crossing along Sheikh Zaid Road 4 6 15 Change in design 4 6 Once the table is ready the data is transferred to the excel sheet to perform simulation. The results from the simulation are summarized below Sr No Risk Probability Minimum Probability Maximum Probability From Simulation 1 132 kv electic line relocation 7 10 8.5 2 1200mm dia water line 6 10 8.0 3 Sewerage line 5 10 7.5 4 Etisalat Line 4 8.5 6.2 5 Mobilization 4 4 4.0 6 Trial Trench works 6 9 7.5 7 Traffic Diversion scheme implementation 7 9 8.0 8 Toyota Building 6 9 7.5 9 Diversion of the Existing 600mm 300mm Water Diversion 6 9 7.5 10 Programme submission and approval 2 2 2.0 11 132 Kv electric line, water pipe valves , irrigation pipe valves , long lead material 4 6 5.0 12 Soil investigation , Pilling, Rebar subcontractor finalizatin 4 7 5.5 13 Plant machinary 3 6 4.5 14 utility line crossing along Sheikh Zaid Road 4 6 5.0 15 Change in design 4 6 5.0 The above simulation is just a guide line to reach to a specific probality figures where as there are limitations to this method , one it is assumed that these variables for each risk are independent and analysed independently but practically there can be relationship between two or more risk issues. PERFORM QUALITATIVE RISK ANALYSIS Risk probability and Impact Matrix With the help of risk register, risk management plan the risk will be identified for qualitative analysis. These risks are listed and assigned a risk rating using Risk probability and Impact Matrix. Aim of this method is to identify the critical risks based Risk rating which represents frequency of occurrence and the risk probability it self. The listed risks are then categorized as per the matrix established below. The numbers in the matrix represents the risk numbers from the risk register, from the above matrix we can establish the below categories High Risk, Medium Risk Low Risk. Sr No Risk Risk Rating Probability Risk Type 1 132 kv electic line relocation 8 8.5 High 2 1200mm dia water line 7 8.0 High 3 Sewerage line 6 7.5 High 4 Etisalat Line 4 6.2 High 6 Trial Trench works 5 7.5 High 7 Traffic Diversion scheme implementation 8 8.0 High 8 Toyota Building 3 7.5 High 9 Diversion of the Existing 600mm 300mm Water Diversion 8 7.5 High 15 Change in design 6 5.0 High 10 Programme submission and approval 3 2.0 Low 5 Mobilization 5 4.0 Medium 11 132 Kv electric line, water pipe valves , irrigation pipe valves , long lead material 4 5.0 Medium 12 Soil investigation , Pilling, Rebar subcontractor finalization 2 5.5 Medium 13 Plant machinery 4 4.5 Medium 14 utility line crossing along Sheikh Zaid Road 3 5.0 Medium ROOT CAUSE / CURRENT REALITY TREE ANALYSIS The above identified and categorized risk need to be further analysed to identify the root cause in order to avoid a potential delay or prepare a mitigation plan or to prepare a recovery plan. The above major risks are here classified by Current reality tree method Appendix E and the Plan Risk Response The process of developing options and actions to enhance opportunities and reduce threats to project objective. Monitor Control Risk The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk processes effectiveness throughout the project. Indentify Risks The risks to be identified based on historical events of other projects as well as the expertise opinion on the current project. 1. Risk management methodology to be used Risk Identification The objective behind this is to prepare comprehensive list of risks based on those events that might enhance, prevent, degrade or delay the achievement of objectives stated earlier. Also consideration has to be given to all risks whether they are with in the control or not in control. Risk Assessment Questionnaire, historical delay events/reports of other projects will be used to identify the risk. The questionnaire will be asked to the Design Engineers, Resident Engineer, Civil Engineer, Structural Engineer, Quantity Surveyor, Quality/Material Egg, Planning Engineer etc. The data to be entered as per the formats attached in Appendix 1A. B. Categorize Risks The data collected from risk identification templates will be categorized as per the risks High Risks, Medium Risks, Low Risks also the probability of risk occurrence to be mentioned. The data to be entered as per the formats attached in Appendix 1B. Risk Impact Assessment For the each risk identified, the probability of risk occurrence for the particular risk will be established then asses impact of the same in terms of cost and time delay. Monte carols simulation, Decision tree analysis, and Failure Mode effect analysis to analyze risks one of these tools will be used to analyze the risk and forecast the impact. D. Prioritize Risks Risks that meet the threshold criteria will be recorded in the Risk Response Plan. E. Risk Response Planning: For each risk in the Risk Response Plan, determine the options and actions to reduce the likelihood or consequences of impact to the projects objectives. Determine the response based on a cost/benefit analysis (cost vs. expected effectiveness). Describe the actions to be taken to mitigate the risk Describe the actions to be taken when the risk event occurs (contingency plan) Assign responsibilities for each agreed upon response. Assigned a due date where risk responses are time sensitive Incorporated this information into the Risk Response Plan F. Monitor Risk: Document the dates and the actions taken to mitigate the risk Document the actions taken when the risk event occurred (contingency plan) Document any subsequent actions taken Incorporate this information into the Risk Response Plan Refer appendix 1F for the templates. Establish systematic reviews and schedule them in the project schedule. These reviews are to ensure: All of the requirements of the Risk Management Plan are being implemented Assess currently defined risks Evaluate effectiveness of actions taken Status of actions to be taken Validate previous risk assessment (likelihood and impact) Validate previous assumptions State new assumptions Identify new risks Risk Response Tracking Communications H. Control Risk: Validate mitigation strategies and alternatives. Take corrective action when actual events occur Assess impact on the project of actions taken ($$, time, resources) Identify new risks resulting from risk mitigation actions Ensure the Project Plan (including the Risk Management Plan) is maintained Ensure change control addresses risks associated with the proposed change Revise the Risk Assessment Questionnaire and other risk management documents to capture results of mitigation actions. Revise Risk Response Plan Communications 4. 8. Assumptions Only the project related risks are considered, the corporate issues, economy risks are not considered. Separate risk management plan is to be prepared for Occupational Health, Safety Environment as per IS14000 18000.The other significant assumptions to be mentioned if any. The application of the risk management plan is only limited to the construction work The objective behind risk management exercise is to implement a plan for a new project where as for dissertation purpose I have taken a old, ongoing project which gives realistic picture of delays happened so far and helps in analysis.

Revenue Recognition Essay

The issue of revenue recognition practices is an area that has received a lot of attention from regulators. Whenever there is a report of financial restatements or negative earnings, regulators pay extra attention to review the financial statements in order to verify that that there are not any indications of financial fraud or that the organization overstepped their boundaries in the area of managed earnings. The reason that regulators have taken a special interest in financial accounting and potential fraud is due to the collapses of companies such as Enron, WorldCom and Tyco. Regulators and those in the accounting profession are focusing their efforts on the causes of fraud as well as the steps that can be taken to effectively detect and prevent a possible reoccurrence of fraudulent behavior especially in the area of revenue recognition and the overstatement of assets. Revenue recognition refers to the time when transactions are recorded on the books, Per Generally Accepted Accoun ting Principles (GAAP), revenues, and gains, are generally recognized when: 1. Revenues are realized or are realizable 2. They have been earned the substantial completion of the activities involved in the earnings process. Both of these items are typically met at the point of sale, which generally occurs when goods are delivered or when services are rendered to the customer. Usually revenues and assets are recognized simultaneously. However, assets can be received before the conditions of revenue recognition are met. One example would be if a customer pays in advance for goods or services which will be received at a later date. Even though the cash is received and is recorded as an asset in the company’s books, the revenue has not been earned. Typically the revenue is not recognized prior to a sale because either the customer has not paid for the goods yet or because the goods have not been delivered to the customer. The main exception to not recognizing revenue prior to a sale would be when a contract exists that guarantee the sale or that the customer has promised a valid promise of payment such as when both the seller and the buyer are legally obligated to fulfill the term of a contract (Parizek & Findley, 2008). Another exception to the revenue recognition rule occurs when a product or service may be provided to the customer without receiving a valid promise of payment. This typically occurs with a family dentist who provides services to ease a patient’s pain and then tries to collect the  payment later. Also, if a company has a substantial amount of services to provide even though the customer has provided a substantial payment, the company must wait to recognize the revenue. It is not enough that one of the criteria for recognizing revue is met; both items must be satisfied in order for the recognition of revenue. Because every income statement begins with total revenue, how revenue is measured is a fundamental concept in the field of accounting and as such, the topic of revenue recognition has received a lot of attention over the course of the past few years. The American Institute of Certified Public Accountants (AICPA) has produced specific guides to help with the topic of revenue recognition in specific situations in certain industries. The AICPA Statement of Position (SOP) 97-2, â€Å"Software Revenue Recognition† contained the following four items (Parizek & Findley, 2008): 1. Persuasive evidence of an arrangement exists 2. Delivery has occurred. 3. The vendor’s fee is fixed or determinable. 4. Collectability is probable. These four items were used as the framework in the SEC Staff Accounting Bulletin No. 101. The SAB 101 is a very unique and interesting bulletin because it provides specific cases and then proceeds with a questions and answer format. SAB was created in large part to the issues that the staff had encountered in while conducting a review. Because SAB 101 addresses specific situations, it cannot be used as an answer to every instance of revenue recognition, but it does provide a comprehensive guide for companies to use as a form of direction when faced with dealing with a complicated situation such as when there is persuasive evidence of an arrangement, delivery of goods has already occurred or services have been rendered or when the price is fixed or determinable (SEC, 1999). Questions 1 and 2 of SAB address the topic of Persuasive Evidence of an Arrangement and highlight how a seller could be tempted to bend the rules of revenue recognition in order for a more favorable time in which the sale is reported. The first question exhibited the case in which Company A required each sale to be supported by a written sales agreement signed by an authorized representative of both the customer and Company A. This issue was if Company A could recognize the revenue in the current quarter even if the  sales agreement would not be signed until a few days after the quarter had ended. This question highlighted the need for companies to have strong internal controls and the need to a reliable system to be in place for processing contracts. Without a strong internal control structure as well as clearly documented procedures, there is a possibility of managers becoming tempted to adjust how revenue is recognized based on the needs of the quarter. Questions 3 and 4 reviewe d the issue of ownership of goods and when the transfer had effectively taken place. Question 4 reviews the case of Company R that is a retailer that offers layaway sales to its customers. For the layaway option, a customer pays a portion of the sales price and Company R holds onto the merchandise until the customer returns to pay the balance remaining on the merchandise. Once the merchandise is paid in full, the customer can take possession of the merchandise. This case is an example of what is referred to as a ‘bill and hold’ arrangement where the customer is billed for the merchandise but the merchandise is held by the company for release or shipment at a later date. Question 4 is also an example of how some companies could manipulate their inventories at the end of a quarter. A company could increase revenue by pushing some of its merchandise in the warehouse aside and claim that it has already been sold but were being held for the customer. In order for the company to recognize the revenue they must be able to show that the merchandise is completely separate from its other merchandise and cannot be used for any other order. The company also must be able to show that the customer specifically requested in writing that the company hold the merchandise. Questions 5 and 6 reviewed revenue recognition when the company must perform several activities. Question 5 asks the question as to when Company H should recognize the revenue from an upfront, nonrefundable fee for an extended service contract along with regular, monthly payments. SAB 101 illustrates how the nonrefundable fee cannot be treated separately and must be treated as a part of the overall unit because no one would pay a deposit without expecting additional goods or services to follow (SEC, 1999). The questions 7, 8 and 9 in SAB 101 describe situations where the price may not fixed or determinable in the transaction. Question 8 describes how Company A owns a building and leases it to a retailer. The annual lease payment is $1.2 million plus one percent of all the retailer’s sales in excess of $25 million. It is probable that  sales during the year will exceed $25 million. Should Company A estimate and recognize revenue associated with the one percent of the sales over $25 million on a straight-line basis throughout the year? Because the buyer does not have any fixed or determinable obligation to make a payment until the $25 million sales level has been reached, none of the extra revenue can be estimated and recognized in advance. Question 10 in SAB 101 does not deal with when revenue should be recognized but instead how the revenue should be reported on the income statement. Question 10 discusses the situation where Company A operates an internet site where customers can order the products of another company, Company T. Company T ships directly to the customers and Company A never has any ownership of the merchandise but company A does receive a portion of each sale that Company T makes. Since Company A never takes legal ownership of the merchandise, it would be inappropriate for them to use the gross revenue reporting method where they would report $175 in revenue and $150 in cost of goods sold. Instead Company A should report the money that it earns from each sale as commission revenue. SAB 101 is not the only work that has tried to address the issue of revenue recognition. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are working together on joint project that would create a single standard for revenue recognition. The project is intended to solve issues in the differences between U.S. GAAP and International Financial Reporting Standards (IFRS). FASB has listed the following six for the project (FASB,2012): 1. Converging U.S. and international standards on revenue recognition 2. Eliminating inconsistencies in the existing conceptual guidance on revenue recognition. 3. Providing conceptual guidance that would be useful in addressing future revenue recognition issues. 4. Eliminating inconsistencies in existing standards-level authoritative literature and accepted practices. 5. Filing voids in revenue recognition guidance that have developed over time 6. Establishing a single, comprehensive standard on revenue recognition In creating a new revenue recognition standard, the FASB and the IASB have adjusted their focus to realization and earnings approach instead of focusing on an asset and liability approach. To assist companies with the changes, FASB issued a proposal that broke down the revenue recognition process into five steps. The first step would be to match the  contract with the customer. The second step would be for the company to identify each step of the transaction with the customer. Third, the company would have to identify the transaction price of each separate act or obligation. In the fourth step, the company reviews how much it expects to receive for preforming each step with the company recognizing the revenue in the final step once the merchandise has been transferred to the customer (FASB, 2012). The work between FASB and IASB is still a work in progress but has strong support from several groups in the accounting community some of which have already laid a foundation to work from. In 1998 former SEC Chairman Arthur Levitt delivered what is now considered to be a famous speech titled â€Å"The Numbers Game† in which he expressed great concern over how many companies engage in the practice of earnings management. In his speech Mr. Levitt identified several major accounting techniques that he thought were being used to undermine the integrity of financial reporting(Levitt, 1998). Mr. Levitt stressed how accounting involves significant judgment and he expressed concern that this judgment was being pushed aside by management due to the pressure that they were encountering to meet the numbers. Mr. Levitt mentioned the standards of objectivity, integrity and judgment in reporting accounting number and stressed that it was these standards that remain an integral part of the public accounting profession’s Code of Professional Conduct and form the foundation by which financial statements are compiled, audited and interpreted. He went on the say that the ethical dilemmas facing businesses and their accountants often revolve around the pressure placed upon companies by investors and creditors. These pressures can sometimes cause management to become involved in â€Å"accounting hocus pocus† (Levitt, 1998). Additionally, because accounting involves judgment, the reported accounting numbers can be significantly different depending on the assumptions made by those that are preparing the financial statements. Mr. Levitt stated that accounting principles â€Å"Allow for flexibility to adapt to changing circumstances† and it was this flexibility that creates many of the ethical issues that accountants are faced with. As companies come under pressure to report  favorable results, accountants also come under pressure to flex those rules almost to the point of breaking. Mr. Levitt gave credit to the Code of Professional Conduct for providing guidance to the public accounting profession members when they are faced with difficult issues (Levitt, 1998). Addressing the issues and establishing new policies and procedures is not enough in ensuring that companies are adhering to changes in methods. Communication must be maintained with those that work in the accounting profession so that they are also complying with the latest methods. In October of 2000, the Chief Accountant of the SE, Lynn Turner, wrote a letter to Ms. Arlene Thomas, the Vice President of the Professional Standards and Services office of the AICPA in order to inform auditors of topics that the SEC had been focusing their attentions on. Amount several topics that Ms. Turner included in her letter was the topic of revenue recognition. The letter discussed the issue of revenue fraud and how over half of the revenue frauds that were identified were due to companies that overstated their revenue because that had reported revenue either too early of deceptively (U.S., 2000). Ms. Turner stressed the importance for auditors to test cut off dates and stressed how auditors must place special focus and conduct testing that is above and beyond the reviewing of a few transactions. Ms. Turner also wanted to bring to of Ms. Thomas the issue that was raised with companies having â€Å"side agreements† with their customers which could alter the terms and conditions of the original contract. These adjustments could result in revenue being improperly recorded and that auditors should conduct thorough testing of contracts. This testing is important because it could assist the auditor with identifying if and side agreements exists and then can test the revenue accordingly. Ms. Turner went on to give praise to the AICPA for a document that they issued entitled â€Å"Audit Issues in Revenue Recognition† and stated how this document should be used by auditors for guidance when it comes to properly auditing revenue. Ms. Turner stated how some organizations can be quite complex and conduct several complex revenue transactions and by reading the terms and conditions of the contracts, auditors would be able to determine  the best course of action for conducting a proper and thorough audit (U.S., 2000). The topic of financial reporting fraud is one that will continue to remain the focus of the SEC, FASB and ISAB for some time to come. Revenue recognition will play a large role in the process as it encompasses two primary factors; management will need to use their own judgment in determining how their revenue should be recognized and that management should be prepared to have their judgments analyzed and questioned. By maintaining focus of the issues that have been identified, and keeping an eye out for possible future issues, the authorities can be certain that investors are making decisions based on accurate information. Constant training and communication between all agencies will ensure that the scandals and financial collapse of companies will not be repeated. References American Institute of Certified Public Accountants Accounting Standards Executive Committee Statement of Position 97-2, (1997) Software revenue recognition, p.08. FASB. (2012, October 13). Revenue recognition—joint project of the fasb and iasb. Retrieved from http://www.fasb.org/project/revenue_recognition.shtml Levitt, A. (1998, September 28). The numbers game. Retrieved from http://www.sec.gov/news/speech/speecharchive/1998/spch220.txt Parizek, G., & Findley, M. (2008). Charting a course: revenue reconition practices for toda’ys business environment. Journal of Accountancy, 20(3), 15-22. SEC. (1999, December 3). Sec staff accounting bulletin: No. 101 – revenue recognition in financial statements. Retrieved from http://sec.gov/interps/account/sab101.htm U.S., SEC. (2002, October 13). Letter: 2000 audit risk alert to the american institute of certified public accountants. Retrieved from http://www.sec.gov/info/accountantts/staffletters/audrsk2k.htm