A Look At Savage Garden :: essays research papers

Savage Garden is an Australian couple shaped in 1994 by Daniel Jones and Darren Hayes. Daniel Jones, conceived on July 22, 1973 in Essex England moved to Brisbane, Australia as a little youngster, he plays console, guitar, programming and sings back up. Darren originated from a long queue of artists, so his adoration for music began when he was exceptionally youthful. At the point when he was pretty much nothing, his sibling had a drum set and when he went out, Daniel would sneak into his room and play at that point, he took piano exercises when he was seven. By the period of ten, he was playing the console and drums in bars and inns. Daniel’s melodic impacts were, Peter Gabriel, XTC, and Tears For Fears. Darren was conceived May 8, 1972 in Brisbane, he is both the lead and back up artists. At a youthful age, he started indicating alot of intrest of getting into diversion by singing and acting around the house which drove him to act in many school plays when he got into secondary school. After secondary school, Darren joined in school, to examine journalsim, Drama and training. His persuasions incorporate, Ruler, The Smiths, Fleetwood Mac, Marvin Gaye, Diana Ross, and Duran Duran. Both the folks are musicians. Daniel was playing with another band called Red Edge, when he put an advertisement in a Brisbane music paper for a lead vocalist, Darren was concentrating to be an educator when he chose he needed to get into the music scene, he saw Daniel’s advertisement and reacted, â€Å"We clicked imeadeatly†(Darren Hayes, SavageGarden life story) Darren joined the band also, in 1994, He and Daniel concluded they were burnt out on playing different people’s music so they left the band and committed their chance to composing and the band, Smash was shaped. Darren and Daniel before long discovered another Australian band likewise had that name along these lines, they purchased the name from them in any case, at that point they discovered another English band called Crush so they chose to call the band Savage Garden which was thought of by Darren, it was from an Anne Rice novel where â€Å"she portrays the world as two levels, one as an exceptionally delightful place but,in the other, underneath, we’re all savage beasts†(The origination of savage nursery) in the other,Darren and Daniel so terminated without anyone else affirmation, sent out more than 150 demo tapes to record organizations and the executives everywhere Australia. Individually they got dismissed until John Woodruff heard their tape what's more, thought they got an opportunity, he promptly traveled to Brisbane to sign them to JWM, his record organization. Their first self named collection was recorded in

Critique on Frida Kahlo essays

Evaluate on Frida Kahlo articles This work of art is a self picture of Frida Kahlo, in two split characters. The Two Frida's was made in 1939. It is oil on canvas, remaining at a tallness of 581/2 square. It is hanging in the Museo de Arte, in Mexico City. There are two Fridas, sitting in nearby seats and clasping hands, gazing back at the watcher. The two Frida's are perched on a green weaved seat on a caramel smooth floor, and behind them is a painting of blue and dark sky on a divider. One Frida is wearing a local Indian custom (a tehuana skirt) and a shirt. The pullover is blue with a gold trim, and the skirt is green with a white train. This Frida is holding a little picture of a man. From the start the little representation resembles a pin or a major catch, until one gets a more intensive gander at it. The other Frida is wearing a white European long, style dress, with blossom weaving toward the finish of the skirt. The two Frida's are associated with one another by a joint circulatory framework with their souls uncovered. The core of the Frida in white is cut and torn open. The corridor that associates the two Fridas is cut off. The Frida in the white European Victorian dress holds a careful clip and seems to have cut the blood stream to her, along these lines one can see blood trickling over her lap shaping a pool of blood. The core of the Mexican Frida is completely unblemished and has all the earmarks of being taking care of off blood from the Victorian Frida. Both Frida's have their hair meshed and pulled upward, this haircut exemplifying a genuine Frida hairdo. The two of them have red ruddy cheeks and the long thick eyebrows that meet up in an inward structure. Frida utilizes various hues to pass on the message she is attempting to put across to her watchers. There is an utilization of natural hues in the dress of the Mexican Frida to pass on her social foundation. The different Fridas dress is all white, with rosy rose blossoms on it. There is a r ... <!

Learning How to Write a History Paper

Learning How to Write a History PaperIt can be a daunting task but learning how to write a history paper will help you succeed in a subject that is not easy. Historians are of different types and many are required for a variety of reasons. History is something that people read about, hear about, and study. People who study history use the written word in a variety of ways.Some people learn to write about history by going to school and studying the various historical events that occurred during their formative years. They use this information to learn how to write a history paper. Others may choose to take courses that teach students about history. These courses provide valuable tools to those who wish to write a history paper. Writing requires a knowledge of the history, the background, and all the facts of the people and events involved.There are some steps you must take to learn how to write a history paper. The first step is to decide what topic you want to write about. You must t hink about what you want to say in your paper and whether you want to include anything about the time period or not. This means you will need to gather information from the past and organize it into your story. Remember that it is the beginning of the story and you need to have it in order before you begin writing.After you have decided on what you want to say about your paper, it is time to go through your notes and make sure you have everything. You need to know what you will need to use to write the paper, including examples of when you used certain facts in the past. You may have notes that you need to organize in order to make sure you have everything you need to complete your history paper.Research is an important part of a writing assignment. You will need to know who was involved in the historical event you are writing about. What you do with the information will determine how well you do in your paper. By following a research plan, you will gain information from the differe nt sources that are available to you. You will need to find some things to work with while researching so you can begin to organize the information you have.Keep your paper short and to the point. You will not get very far if you spend too much time on an article. Your audience wants quick solutions to their problems, so you need to keep your paper concise. After you have made a research plan and your facts are organized, you will be ready to begin writing.After you have gathered the information, it is time to arrange your information so that you can tell a coherent story about a historical event. Organizing your research will help you find what you need and give you some ideas on how to write a history paper. There are many resources available online that will give you ideas and tips on how to organize your research and put it together. You may even want to look at other students' research in the area in order to get ideas on how to organize yours.Learning how to write a history pa per is something that many people have trouble with. This is because many of the things they need to know can be found online. By learning how to write a history paper, you will be able to make sure that the history you write is clear and to the point.

How current societies engage in civic life (society organizations) - Free Essay Example

Civic engagement in accordance with the American Psychological Association is individual as well as communal actions premeditated to recognize and address issues of community concern. It might be described as citizens working jointly to make an amendment or difference within the community. Civic engagement embraces communities functioning jointly in both political and non-political events. The objective of civic engagement is to deal with community concerns and support the superiority of the community. Sociologists build up theories to enlighten social occurrences. A theory is an anticipated relationship involving two or more perceptions. In other terms, a theory is clarification for why or how an event occurs. An instance of a sociological theory is the effort of Robert Putnam on the reject of civic engagement. Putnam established that Americans participation in civic life (e.g., community organizations) has turned down over the preceding 40 to 60 years (Lichterman Potts, 2009). Despite the fact that there are an amount of factors that donate to this decline (Putnams theory is fairly complex), one of the well-known factors is the amplified utilization of television as a form amusement. Putnams theory proposes. This aspect of Putnams theory clearly demonstrates the essential purpose of sociological theory: it recommends a relationship linking two or further concepts. I n these circumstances, the concepts involve civic engagement as well as television watching.  The link is an inverse one as one goes up, the other goes down. Whats more, it is an explanation of one phenomenon with another: element of the explanation why civic engagement has turned down over the last numerous decades is for the reason that people are gazing at more television. Putnams theory obviously includes the key basics of a sociological theory. The Functionalist Perspective The Functionalist Perspective is a sociological theory which initially attempted to clarify social institutions as communal means to meet individual natural needs. Later it emerged to spotlight on the ways social establishment meet social requirements. Functionalist Perspective draws its motivation mainly from the opinions of Emile Durkheim. Durkheim was alarmed with the issue of how societies sustain internal permanence and endure over time. He wanted to explain social consistency and stability in the course of the concept of unity. In more prehistoric societies it was involuntary solidarity, everybody performing comparable tasks, which held society together. Durkheim anticipated that such societies have a tendency to be segmentary, being self-possessed of equivalent parts that are held mutually by shared values, ordinary symbols, or systems of interactions. In current, complex societies associates perform very dissimilar tasks, resultant in a well-built interdependence involving individuals (Elolia Adogame, 2012). Anchored in the symbol of an organism where many parts operate together to maintain the whole, Durkheim disputed that modern multifaceted societies are held mutually by organic unity (consider interdependent organs). The innermost concern of Functionalist Perspective is a persistence of the Durkheimian mission of explaining the noticeable stability and interior cohesion of culture that are essential to make sure their sustained survival over time. A lot of functionalists dispute that social societies are functionally incorporated to form a steady organization and that a transform in one organization will swift a change in other organizations. Societies are observed as logical, bounded and basically relational erect that task as organisms, with a variety of parts (social organizations) working mutually to sustain and replicate them. The different parts of society are implicit to work in an insensible, quasi-automatic manner towards the preservati on of the largely social stability. All social as well as cultural phenomena are thus observed as being functional within the sense of working jointly to attain this status and are efficiently considered to have an existence of their own. These mechanisms are subsequently primarily examined in provisions of the task they play. Durkheims strongly Functionalist Perspective of society was sustained by Radcliffe-Brown. Subsequently, Auguste Comte, Radcliffe-Brown assumed that the communal constituted a disconnect level of actuality distinctive from both the natural and the lifeless. Clarification of social phenomena thus had to be constructed in this social level, with people simply being transient inhabitant of moderately stable social responsibility (Elolia Adogame, 2012). As a result, in structural-functionalist consideration, people are not important in and of themselves although only in conditions of their? social position: their situation in patterns of social relationships. The social organization is thus a network of statuses linked by associated responsibilities. The Functionalist Perspective, originate from the thoughts of Karl Marx, who alleged society is a self-motivated entity continually undergoing alteration driven as a result of class conflict. Although functionalism recognizes society as a multifaceted system striving for stability, the conflict perspective on the other hand analysis social existence as competition. In accordance with the Functionalist Perspective, culture is fabricated of individuals contending for restricted resources (such as money, leisure, sexual associates, etc.). Competition over limited resources is at the compassion of all social relations. Competition, moderately than consensus, is feature of human associations. Broader social makeup and organizations (such as religions, government) replicate the competition for assets and the intrinsic inequality opposition entails; a number of people and associations have extra res ources (e.g. power and authority), and apply those assets to maintain their point of authority in society. For instance, Functionalist Perspective theorists may civic life movements as a result of studying how activists disputed the racially uneven distribution of biased power and financial resources. As within this example, conflict theorists normally see social modify as unexpected, even radical, moderately than incremental. Within the conflict perspective, modify comes about in the course of conflict involving competing interests, not agreement or version. Conflict theory, thus, gives sociologists an outline for explaining social change, thus addressing one of the tribulations with the functionalist standpoint. Functionalist Perspective is a hypothetical advance to accepting the connection linking humans and society. The fundamental notion of symbolic interactionism is that individual action and relations are comprehensible simply through the substitute of significant communic ation or symbols. Within this approach, humans are depicted as acting, as divergent to being performed upon. The main beliefs of symbolic interactionism are: Individuals act toward issues on the basis of the implications that issues have for them. As a result, these implications happen out of social relations. This perspective is as well based on phenomenological idea (Elolia Adogame, 2012). In accordance with symbolic interactionism, the aim world has no actuality for humans; simply personally defined objects have implication. There is no particular objective actuality; there are simply (possibly numerous, possibly contradictory)? understanding? of a situation. Implications are not things that are granted on humans and cultured by training; as an alternative, meanings can be changed through the imaginative capabilities of individuals, and those might manipulate the many meanings that outline their society. Individual society, thus, is a social invention. References Top of Form Lichterman, P., Potts, C. B. (2009).? The civic life of American religion. Stanford, Calif: Stanford University Press. Top of Form Elolia, S. K., Adogame, A. U. (2012).? Religion, conflict, and democracy in modern Africa: The role of civil society in political engagement. Eugene, Or: Pickwick Publications. Top of Form Joseph, P. (2007).? American literary regionalism in a global age. Baton Rouge: Louisiana State University Press. Bottom of Form Bottom of Form Bottom of Form

Gögn - 949 Words

Colin Drury, Management and Cost Accounting - Dumbellow Ltd Dumbellow Ltd Stan Brignall, Aston Business School The Board of Dumbellow Ltd are meeting on the 23rd January to discuss the draft budget for 2000/1, some two months before the start of that year. The company produces three industrial valves which are incorporated into equipment used in the Oil and Gas industry. The draft income statement is as follows: Product X  £k Sales 100k units at  £15 80k units at  £25 120k units at  £10 Materials Labour Overheads Profit/(Loss) 300 700 225 1225 275 400 800 360 1560 440 1500 2000 1200 480 750 330 1560 (360) 4700 1180 2250 915 4345 355 Product Y  £k Product Z  £k Total  £k The Board are unhappy with this planned outcome in two respects: they†¦show more content†¦I offered to help you look at your costs when I arrived last year, but when I proposed investigating the merits of Activity Based Costing you said you had no time to waste on such nonsense. You cant blame me for not consulting you! At this point Bob Berry, the Marketing manager, roused himself and smoothly announced, Theres no need for you two to bicker like this. I think the sales position would encourage us to lower the price of Z by  £1 per unit which I think would raise demand by 25%. If Arthur can save that  £1 per unit in variable production costs somehow, why dont we try that combination? Ben Kates, the Managing Director, now intervened. Id like to compare the effects of adopting Bobs suggestion versus Pauls. Arthur, would you also like to take a little time to think how best you might re-organise production so as to improve matters, and pass your thoughts to Paul for him to turn into financial figures. And, Paul, Id like you to try seeing what a simple 10% increase in sales and activity across the board would do, holding prices and everything else constant. After all, we have got a fair bit of spare capacity, havent we Arthur? The meeting broke-up at this point, having agreed to proceed on the lines set out by Ben Kates. Colin Drury, Management and Cost Accounting - Dumbellow Ltd à ­ là ­nu 4 à ¾Ãƒ ¡ The next day Arthur Mitchell phoned Pauls officeShow MoreRelatedNew Zealand : Indian And Pacific Plate Essay1656 Words   |  7 Pagesnatural and cultural environment. Some of the more major hazards that we could expect to see in New Zealand include ash falls, lava flows, lahars, and pyroclastic flows (others include electrical storms, volcanic gasses, tsunamis and earthquakes) ([1] gns science, 2010). The type, number, and severity of impacts of potential hazards varies between each volcano due to many factors. The likelihood of a hazard occurring may vary due to the observed behaviour of the volcano and geological readings. 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Merc Finance and Strategic Management (FSM) Copenhagen Business School Date 09/10/2008 Author: Irakli Menabde MSc Thesis: Valuation of Integrated Oil Gas Companies Irakli Menabde Abstract The paper examines a number of empiricallyRead MoreMaggot Therapy5739 Words   |  23 Pagesfoot: ulcerations and amputations. In: Veves A, ed. Contemporary endocrinology: clinical management of diabetic neuropathy. Totowa: Humana Press; 1998, p. 273. 6. Centers for Disease Control and Prevention. National diabetes fact sheet, 2007. Atlanta, GA: U.S. Department of Health and Human Services, Centers for Disease Control and Prevention, 2008. http:// www.cdc.gov/diabetes/pubs/pdf/ndfs_2007.pdf. Accessed February 22, 2009. 7. Pechter EA, Sherman RA. Maggot therapy: the metamorphosis. Plast Reconstr

Welfare Fraud Essay - 1638 Words

Lisa D. Green Ms. Fahle English 112 15 Jul 2013 When Help Turns to Abuse I can remember the conversation as if it was yesterday. While in a grocery store walking in the grocery aisle, I overheard a woman talking to another woman and her husband. The part that caught my attention was the young lady saying, â€Å"I can get you the cheese, milk, and eggs with my WIC, and all you have to do is give me the money when we leave the store.† I knew this wasn’t right, so I made sure I was at the check-out counter to see if what I overheard was true. To my surprise, the young woman paid for things using a check like piece of paper and waited for the couple to leave the store. In the parking lot, I witnessed the young lady giving the†¦show more content†¦Families that want to better themselves will try to get off the program. Being undereducated and entering an under skilled workforce may cause more harm than good to the family. Realizing their children will grow up poor or in poor health they have no choice but to get back on the syste m. The main issue on this is at least they tried to make a go of it before they had to come back onto the program. Offering job training may be a way to help families on the program. It would give them a sense of pride in themselves and not the feeling of relying on the system for a chance to help their family. The training will get them off the program in two years with job training and the much needed education to have a well paying job. As far as Douglas Wolf, a research scholar at the International Institute for Applied Systems Analysis states, â€Å"Underreporting or completely failing to report earnings to a welfare agency is a way of welfare fraud† (The Dynamics of Welfare Fraud) (438). For the government to realize that some participants will this, then the system should have the right to monitor them. Getting the applicants a job, the system will be able to monitor the pay for a year. This way if you continue to work plus receive assistance, the assistance can be cut if you are getting a steady paycheck. Once a steady paycheck is coming in, your assistance will be evaluated to determine if it will be terminated. If for some reason theShow MoreRelatedEssay on The Welfare Fraud Crisis1705 Words   |  7 Pages Welfare is intended for families or individuals that are in need of assistance with no or little income. For those who do not know, Welfare funds come from hard working individuals that are required to pay taxes. Now we wonder, are the tax payers’ hard earned money going to the right deserving recipients? Welfare fraud is on the rise in this country. Many are taking advantage of the system taking away the help that is meant for people that truly needed help to provide for their families orRead MoreWelfare Fraud : A Black Woman1289 Words   |  6 Pageswith the help of the media, the label of the black mother who lives on welfare, yet is able to afford a Cadillac. Her name was Linda Taylor, a Chicagoan who was infamously known to changing her name numerous times, participating in welfare fraud, and ultimately living a well-off life based on her scams. The Chicago Tribune was the first to refer to Taylor as being a â€Å"welfare queen.† Media and politics stereoty ped the â€Å"welfare queen† as a black woman who takes advantages of taxpayers and the systemRead MoreWhat Is Welfare Fraud and Who’s Paying the Price? Essay1436 Words   |  6 PagesWhat is Welfare Fraud and who’s paying the price? What is Welfare Fraud and who’s paying the price? Welfare fraud is misuse of various welfare programs; the people who suffer the most from this are the ones who should get benefits but can’t because there is no more funds available and the taxpayers who pay for it. Basically fraudsters withhold certain information or provide inaccurate or false information to receive benefits.   The three most common types of welfare fraud are purposely providingRead MoreEssay about Welfare Fraud: Betting Against the Odds851 Words   |  4 PagesTitle Welfare Fraud: Betting Against the Odds Introduction The issue that I have decided to address is welfare abuse. I propose that due to the government’s lack of foresight, welfare recipients have been cashing EBT benefits at ATM machines in California casino’s. Research question: Can something be done to ensure that welfare benefits will be used as intended by the recipients? Readers: Mainly Californian tax payers, but in a broader sense it could be anyone who is concerned aboutRead MoreEssay on Solutions to Poverty: First, End Welfare Fraud1835 Words   |  8 Pagesâ€Å"Michigan lottery winner arrested on charges of felony welfare fraud† -- Melissa Anders --   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Poverty is an issue in America that has become a growing problem. While it may not necessarily be an issue that gains a lot of attention from people in today’s society, it is still a problem that should be addressed, especially in times of economic hardship like the ones that we are currently experiencing. Money has become tight for a lot of people, but there are still those that have alwaysRead MoreWelfare Fraud And Its Different Variations Of Cases2176 Words   |  9 Pagesresearch is Welfare fraud and its different variations of cases and ways in which people are abusing the system. Some major fraud cases range from under-declaring income to faking sickness/illnesses to even using false names to collect funds. One of the major concerns or problems of fraud in the community are people abusing the system, whom are obtaining the benefits for which they are not entitled to. Disability support pension (DSP) is one of the major issues underlining welfare fraud. People areRead MoreWelfare Reform Essay1456 Words   |  6 Pagesdebated about a systematical program called welfare. Some perceive it as dead weight to our nation and they question whether the programs offered are helping the community. As taxpayers, the American populous funds contribute to welfare for others. Due to the large number of people who receive government assistance, it is not that simple to monitor every individual. However, I propose that welfare should be reformed. Society is abusing the access to social welfare and to prevent the downfall sure to comeRead MoreWelfare Reform Essay1040 Words   |  5 PagesWelfare has been around for than six decades. Since the beginning of its creation people have question whether the programs offered is helping the community. As American taxpayers, your funds contribute to welfare for others. Due to the large number of members who receives gov ernment assistants, it is not that simple to monitor every individual. But, I propose that welfare should be reformed. Society is abusing the access to social welfare and to change the downfall sure to come, the governmentRead MoreWelfare Should Be Temporary. Essay680 Words   |  3 Pagescause is not hard to find. Welfare should be temporary. One of Americas biggest misconceptions about public assistance is that of people on welfare. Rita Jensen, an investigative journalist in New York city and a former welfare recipient states that, [W]hen one says Welfare mother the listener hears black welfare mother. This is a skewed perception that leads to an ongoing underlying racial motive against the welfare program. In general, when speaking about welfare most Americans believe itRead MoreA Beneficial Change That Has Been Proposed For The Welfare1374 Words   |  6 Pagesbeneficial change that has been proposed for the Welfare program is a time limit on how long people are allowed to be on welfare. When putting a time limit into place, new job programs will emerge in order to help find the individuals a place of employment (Molander). Job programs would provide training and assistance in helping the individual find employment. These â€Å"job programs† would be instated for the purpose of helping those people on welfare get off as soon as possible (Molander). In turn this

Accounting Risk & Insurance

Question: What is Risk Insurance?Explain Financial Statements on Insurers. Answer: Introduction In this assignment risk management will be analysed, the financial statements of the insurers and evaluating policies suitable for business. The course will focus upon Takaful insurance as a means of alternative to conventional insurance policy. In conventional insurance the risk is transferred to the insurance company i.e. insurer from the policy holder i.e. insured in relation to the premium paid. It has uncertainty associated i.e. gharrar as it is impressible by Islam (Yakob et al.). The loss and compensation are uncertain here as it is a form of gambling (maisir) as insurer is paying the amount i.e. premium. The funds are invested as bonds, securities etc. attracting fixed interest. It contains usury ( riba) that is prohibited in Islam. The profit generated belongs to the shareholders and the insured is not getting the payment after the policy period expires. Takaful is not sharing risk but, mutual cooperation is shared by individuals having same pool by having only takaful manager. The elements of gharrar, riba and maisir are eliminated by replacing it with conditional donations (tabarru) done for a good cause. The contribution is towards brotherhood in the spirit of purity (Neea) and investments are made into non-interest funds. At the end the surplus generated is returned proportionality as per the contribution made at the end of the accounting period (Archer, Abdel Karim and Nienhaus). 1. Evaluate Upon Risk Management on Its Importance Risk is a chosen probability action or process that leads to undesirable outcome and traditionally risk was associated with uncertainty of the events taking place in future. As stated by IFSB Chairman and Saudi Arabian Monetary Agency (SAMA) risk is not associated with religion. Risk in Islam in divided into two aspects unique and generic risk whereas, generic risk is having credit, market, oprtational and liquidity risk. Alternatively, unique risk includes shariah non risk, equity investment and commercial risk. In Islamic industry the most close to Takaful industry is unique risk. Risk management in insurance is used in terms of pure risks that may be only restricted to insured risks (Dionne 147-166). So, when an insurer speaks about risk management it deals with finding the ways of improving or reducing the potential loss of risk that is being invited or on the verge of invitation. In terms of management from Islamic perspective the life of human being is organic with no differentiation in religions, secular and matters. They are guided by the principles of shariah as men are not responsible and accountable for their actions. The areas of Takaful insurance cover investment management, human resources and compliance. In Takaful industry it helps in identifying the Takaful operator losses and using the most appropriate for treating it effectively. They are observed by imposing conditions on them regarding outsourcing of the management funds for viewing its effectiveness by managing it effectively within risk management framework (Yusof, Lau and Osman 1). This is done along with Chief Risk Officer (CRO) liable for seeing the risks like operational risk by making it in compliance with Shariah. The role played by CRO is to identify the risk by taking integrated measures for it. The risk management by Shariah is a system to control and monitor the assessment of Shariah and in order to manage the risks various objectives are guiding Takaful insurance. They are: Having a achievable rate of return on investments if it is possible The continuity should be there for their going concern The safety of Takaful fund is necessary by safeguarding it unfortunate conditions To ensure that the fund generated is able to pay as per obligations and claims The risks associated with Takaful operators are of three types- financial, operational and business (Aris and Tapsir). 2. Explain Financial Statements on Insurers A financial statement is a formal record that contains the financial activities and positions in a business, entity or person. The information is presented in a systematic manner that is easy to understand thereby discussing and analyzing it effectively. The various kinds of financial statements in respect to insurers are: Balance Sheet It is also refereed as statement of financial position that contains the information about the organization liabilities, assets and owners equity at a specific time period. It represents the financial position at the end of financial quarters (Fraser and Ormiston). The advantages are: The amount of capital can be known by ascertain it in business The financials are disclosed by showing the assets and payment paid in terms of liabilities The liabilities and assets have to be compared by generating the progress in the business It discloses the property of owner in his interest In order to manage the business effectively various ratios have to be generated that have to be effective in nature The disadvantages are: The assets are not represented in their true form in balance sheet as historical cost is attached to it. This provides inaccurate reflection of the market value (Guthmann) The non-monetary use of assets is not considered such as honesty, skill, loyalty of workers and intelligence. The current assets provided are not on their estimated value so in balance sheet it is not representing its true financial position. Income Statement This is done in respect to specific time period of business that includes income and expenses with a time span. The information is generated on ROI, operating capabilities and financial flexibility. It includes two sections- non-operating and operating whereas, in operation section it contains expenses and revenues. Similarly, non-operating section has gains and revenues for non-primary business activities that consist of interest expense, finance costs and income tax expense. (Damant 10-18) The pros being: For investors it is god as it contains detail information that accounts to operational efficiency, operational, profits etc. It represents the profitability over a period by making the principal equivalent to expenses. It provides details on revenues like COGS, taxes, employee expenses gained from non-operating aspects. It includes accrued interest from various investments that is an ideal source for generating revenue. The cons being: It is including in fraud with earnings management to report intentionally to the managers in financial reporting (Peterson Drake and Fabozzi) It includes judgements are available but are not ,measured by having a subjective component Cash flow Statement It is statement that shows the operation of the organization affecting the cash in a financial year period. It contains the funds flow statement and cash statement. The advantages are: It is working like a filter for investors and analyst by judging on the fact whether the company is making the financial statements error free. The statements turn to be incorrect if the balance sheet with cash flow statement is incorrect. The original cash position for two balance sheet with dates with profit and loss and funds flow is not able to show so it is crucial to make cash flow report by knowing the liquidity status of the organization (Fridson and Alvarez) The projections formed are accurate in nature in respect to liquidity of position by arranging the shortfalls in money in form of arrangements in advance. Any extra amount on part of the organization it helps in earning additional amount. The disadvantages are: When isolated it is of no use but requires other financial statements help like profit and loss (PL account), balance sheet etc. This presents only cash portions so it is not possible to judge by only viewing PL account 3. Critical Assessment of Policies Applicable to Business The policies of insurance have to be governed by insurance agreement that is inclusive of conditions, definitions and exclusions. It is a declaration that contains the information about the risk that insurance companies have to abide by (Rejda). The declaration contains the information risk that is limited to activity, insured property of the insured, name of policyholder etc. The insurance agreement covers the indemnity loss taking into account all risks and perils based name. In the first page of the insurance the terms and information included are: Policy limits Insurance company Premium Name insured The kind of insurance Policy period Deductibles The conditions contain the clauses that are specific to the condition as per set standard with some exclusion like narrowing of responsibility in case of loss. Any changing taking place in the document at original risk has can be changed i.e. delete or additions can be made further in the form of endorsements (Merkin and McGee). The validity of the contract is dependent on both parties that can be for long period, short period or one year. It includes payment terms of the policy, cancellation etc. In some cases deductibles are mentioned by paying the amount that is dependent on lower the premium amount bigger is the deduction. The policies that govern a business are discussed below: Indemnity This provides financial compensation to the insured to be in the same place as before the loss occurred to gain the same financial position. The value of the insurance paid should be agreed beforehand as the insured does not make any profit (Gephart). The money provided is on the basis of valuation on the basis of two aspects: Replacement value is paying for the damages without deducting the depreciation that is serving restriction by maximum dollar amount as declared on the policy form. Original cash value is paying the same value that is equivalent to replacement cost of the damaged property but, deducting the depreciation Insurable Interest In insurance term interest represents financial relationship with an individual and as per insurable interest it is forming a legal relationship. It is a matter of insurance that provides them with the right by being in the relationship legally. In this policy various terms like leased by, care, owned by, control or custody, rented by is used for the effectiveness (Mehr and Cammack). It is applicable in varied case some of them being tour operator or auto loan. This is applicable in various insurance such as: Life insurance at the time of inception but is not needed in time of claim In property does not exists in claiming nut at the time of inception it is necessary Marine insurance at the time of claim or loss but is not applicable in time of inception Subrogation In insurance two parties are involved in the process insurer and insured whereas, in this the insurer is serving the right to recover the amount paid by i.e. indemnity. It includes recovering the money from third party who is involved in the damage. The process begins even before the claim is paid that is applicable only in case of a clause in being inserted (Rejda). It is done to insure ones own benefit against the third party and action taken by the insurers subrogation should be performed in the name of insured. Proximity Cause This principle of insurance states that insurers are liable to pay the claims that is causing losses due to insured perils and not by uninsured perils or expected losses. A loss that has occurred may be due to number of causes or a combined effect taking place. In claiming the insurance one dominant cause has to reflect for paying money as all cases might not attract compensation. Utmost Goof Faith When an individual is opting for the insurance policy it is the duty of the insurer to disclose all accurate and voluntary materials associated with it. It is done before signing by keeping good faith wherever needed and in order to be efficient physical risk assessment is undertaken (Merkin and McGee). This procedure appoints assessor who judge the risk better by understanding it for example- UAE motor of data sharing. The insurance contract may be breached if any misrepresentation and any non-disclosure of information take place. It includes hiding personal details like fever from childhood, intentional motive etc. Contribution This is related to the claim that applies between the insurers of double events where two or more policies are getting affected on behalf of the insurer getting the same interest by agreeing in sums of the agreed amount that is exceeds the indemnity allowed legally. The interest of both the parties should be same having the same problem by having a loss. The policies undertaken should cover the same matter and for this as proportionate amount needs to be paid by insurer occurring at the time of loss (Gephart). Conclusion From the above discussion it can be concluded that insurance and contract is dependent on both the parties entering into contract. The risk of the insurance companies on Takaful insurance has to be insured in response to the market. The insurance companies have to analyse the risk in relation to Takaful by checking the financial statement of the insurers. 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