Assignment 1 (Mineral Resource Rent Tax (MRRT) Case Study

Assignment 1 (Mineral Resource Rent Tax (MRRT) - Case Study Example Introduction of RSPT would lead to reduction in the income tax but it was expected that such would not lead to the reduction in revenue, since the decrease in tax would encourage companies to undertake more projects which would lead to rise in the revenue. This increase in revenue would be utilized by the government of Australia for bringing about infrastructure development in the country. The Australian Government decided to provide the resource entities with a refundable credit for the royalties paid by them in the previous years, so that the mining companies receive an extra relaxation on their taxation policies and they are encouraged towards revenue generation. Introduction The Australian Government accepted the proposal of the Australia’s Future Tax System Review to introduce a tax charge on the resource rents and the super profits earned by the mining companies from the exploitation of the non-renewable resources of Australia. This new tax policy will be known as Resour ce Super Profits Tax (RSPT). The RSPT would provide the community of Australia with a share of income that will be derived from the extraction and sale of non-renewable resources of Australia in countries all over the world. ... The RSPT was replaced by the Minerals Resource Rent Tax (MRRT) in late June 2010 because of a resulting controversy in terms of RSPT. The objective of the government in the implementation of the MRRT policy was same as that of the RSPT, along with an additional objective to overcome the controversies and adverse affect faced on the implementation of the RSPT. The area of consideration of the MRRT was limited than the RSPT, which increased its relevance and brought efficiency. The MRRT policies received support from mining unions such as Forestry, Energy Union, Construction and Mining, Australian Greens, and from the Australian Council of trade Unions. The new policy led to the reduction in tax for the mining companies, thus fulfilling one of the objectives with which the policy was introduced. Answer 1. The main features of Resources Super Profit Tax are- The nominal tax rate of 40% on assessable resource profits is applicable. The tax is to be imposed on revenue earned after deducti ng the allowance for capital expenditure. The tax is to be imposed on profits above the normal rate of return, which is determined to be 6%, being the risk-free long term bond rate. To compensate for the higher risk that is involved in the mining ventures, losses on abandoned projects were to be refunded at the mirror rate of 40% of the loss suffered (Kreiser, et al., p.227). Features of Minerals resource rent tax (MRRT) are- The proposed MRRT will apply to the coal and iron ore projects in Australia from 1st July, 2012 at 30% rate. The projects will be entitled to an extraction allowance of 25% which shall reduce the taxable profits subject to the MRRT. MRRT liability will not apply to

Philosophy in law final Research Paper Example | Topics and Well Written Essays - 1250 words

Philosophy in law final - Research Paper Example Some of the topics that these black philosophers are currently teaching and writing include law, physics, philosophy of language, ethics, logic, epistemology, history of philosophy, philosophy of mind, ancient philosophy, philosophy of science, and many more others. Quite a large number of African-American academically trained philosophers are engaged in publishing scholarly articles as well as academic books that contain topics that are directly related to either race or other aspects concerning the experiences of African-American people. Indeed, a majority of African-American philosophers have found themselves concentrating on â€Å"social analysis† that revolves around the concept of â€Å"the hard and brutal facts of the case,† as observed by Martin Luther King (Papish, 2015). Though there is a myriad of literature reviews showing various philosophers and how their works have shaped the concept of law, there is little of such literature reviews touching on African-American philosophers. Therefore, this research paper will seek to show how the works of African-American philosophers have shaped or influenced the concept of law. The main source of data used for this research was secondary sources that mainly comprised of books and journals. This method was appropriate since it is relatively cheap as considered to primary sources such as interviews and administration of questionnaires. Additionally, the information obtained is relatively accurate because information stored in a book is not subject to change or distortion over a period of time (Kerr, 2014). Furthermore there are various different books and journals that talk about African-American philosophers hence provided enough amount of material for comparison. The data obtained was mainly analyzed through comparison of the ideas that each author presented in the journal or book. This was

North American Agriculture Essay Example | Topics and Well Written Essays - 1000 words

North American Agriculture - Essay Example All three originated from the southern Mexico or MesoAmerican area. Squash is named after the Massachuset Indian word askutasquash, meaning "not cooked". Anthropologists think squash may be a major factor in the transition of native people from hunter/gatherers to growers. "The fruits of wild squash were easy to find and offered flesh, nutritious seed, edible flowers and even containersmade from a hard-shell squash known as gourd" (Gilmer, 1). Summer squash is known as Curcurbita pepo, winter squash and pumpkins are C. maxima or C. moschata. All three species are native to the Western Hemisphere. Beans are another of the oldest foods grown in North America and one of the oldest known to man. They have played a significant part in the diet of people for thousands of years. Beans were domesticated about 7000 years ago in both Peru and southern Mexico. Peru developed beans with bright colors and large seeds, while Mexico developed white and black beans with variations of patterns that were small seeded. The tribes in Mexico and Peru traveled across the continent spreading the beans and their techniques for growing these plants. As the New World was being discovered, many varieties of beans were already being successfully grown by the native people. Corn dates back to it's origin as a grass on the Mexican plateau 80,000 years ago. The grass was called teosinte and is believed to have been developed by the native population. The teosinte looked very different from today's corn with small kernels not fused into a husk on an ear like early maize and modern corn. Over time, Native Americans created maize through specialized cultivation. Grass grows in segments and the ears of maize were produced at the joints of the segments. Encouraging the growth of ears on the lower joints and only replanting kernels from those successful plants eventually adapted the crop to a shorter growing season and increased the yield. As the genetics of the plant were changed, its value as a food source increased. Native Americans discovered that maize could be grown, harvested, and dried, then ground into flour. "Surplus maize would be stored in underground storage pits, ingeniously constructed and lined with grasses" (Prindle 2), and used over the winter. Eventually the growing of maize along with beans and squash was adopted into the southwestern and southeastern regions of North America. Native people planted household gardens and larger fields next to their villages. The fields were made of small mounds of tilled earth about one foot high and 20 across, spaced about 4 feet apart and placed in rows or at random. Their method is to plant five to six kernels of corn in a small circle in the middle of the mound. As the corn grew, they would plant seven or eight pole beans in a circle about six inches away from the corn kernels. Several days later they planted seven or eight squash or pumpkin seeds. When the plants began to grow, they would thin out the weak and leave the strongest plants. Author, Tara Prindle wrote, "The corn stalk serves as a pole for the beans, the beans help to add the nitrogen to the soil that the corn needs, and the squash provides a ground cover of shade that helps the soil retain moisture" (2). This is how the Three Sisters work together

The marketing mix Assignment Example | Topics and Well Written Essays - 1500 words

The marketing mix - Assignment Example Even when marketing a product that has high demand, it is advisable for marketers to observe what competitors are doing because competitors always seek to increase their market share. In addition, it is vital to focus on the immense amount of data surrounding the product so as to formulate well-informed marketing strategies and to plan for the future effectively. Today’s consumers have good market knowledge, and hence marketers cannot meet customer satisfaction unless they identify the actual needs of consumers. Finally, production managers must deliver superior quality products as consumers have wide range of choice today. Major principles of product include core product, product lifecycle, and branding. Under the core product principle, a uniform core product is designed that is capable of integrating a number of standard attachments, parts, or components. The integration of these attachments to the core product benefits companies to meet the preferences of local consumers in country. It is relevant to note that the value of the core product is higher when compared to the total value of the finished product. Hence, it is clear that the core product constitutes a notable proportion of the total value of the finished product. In addition, this product approach may assist firms to take advantages of economies of scale and thereby cut down production costs. The product lifecycle principle posits that there are four major steps in the development of a product, including introduction, growth, maturity, and decline (Zimmerman & Blythe, 2013, p.173). The introduction stage is characterised with start-up sales growth, and generally firms spend more on production and marketing than what they receive in sales revenues. Sales significantly increase in the growth stage and firms begin to enjoy a positive return on their investment. In the maturity stage, the longest period of the product

IT Security As Required By Sarbanes-Oxley Term Paper

IT Security As Required By Sarbanes-Oxley - Term Paper Example However, it is a fact that Sarbox also provides parameters and mechanics for enhancing IT security. Thesis statement The benefits of incorporating the provisions of Sarbanes-Oxley Act of 2002 in IT security far outweigh the short-term gains of non-compliance, since the Act injects organizational transactions with security and confidentiality. II) Brief overview/history of the Sarbanes-Oxley Act The Sarbanes-Oxley Act of 2002 was enacted on July 30th, 2002. Because of the original intention and the mandate of the Act, financial accuracy must be certified by the management concerned. Because of the provisions of the Same Act, the penalties for financial fraud have been made more severe. Similarly, the Sarbanes-Oxley Act of 2002 strengthened the autonomy of external auditors who analyze and reexamine the accuracy of corporate statements of accounts and also bolstered the oversight function of the board of directors. Simon, Smalley, and Schultz (2009) divulge that the Sarbanes-Oxley Act of 2002 comes against the backdrop of serious corporate and accounting scandals such as the Enron, Adelphia, Tyco International, WorldCom and Peregrine Systems Scandals. These scandals had cost investors billions of dollars, following the collapse of the affected companies' share prices. These scandals, together with their serious effects weakened public confidence in America's security markets. The Act comprises 11 sections which range from criminal penalties to additional corporate board responsibilities. The Sarbanes-Oxley Act of 2002 demands that the Securities and Exchange Commission implements rulings on prerequisites to compliance with the law. III) How the Sarbanes-Oxley Effects & Constraints on Information Technology Security (Industry & Management) Section 404 Compliance One of the ways the Sarbanes-Oxley Act of 2002 effects and constraints IT security section 404 compliance is by emphasizing a comprehensive understanding of internal controls, as a set of an enterprise's i nternal procedures, providing reasonable assurances that the enterprise will meet its target in all the specified areas. This is the case since Section 404 Compliance extends emphasis on not just historical financial reporting, but on internal controls also. Together with the rules spelled out in the SEC, there is a requirement that public companies' management should assess and report periodically, on the effectiveness of internal controls on financial reporting. To this effect, it is given that the report that the management hands in must be accompanied by statements of evaluations by an external auditor to provide an attestation to the credibility and reliability of the conclusions that the management has made. According to SAI Global (2010), the portfolio that Information Technology Security Section provides also addresses matters beyond Sarbanes-Oxley, to tackle other auditing and legal dimensions of internal controls and the responsibilities that sundry and all actors dispense , when executing systems of internal controls. Even though the Sarbanes-Oxley Act of 2002 is leaner in scope than internal controls, the Portfolio agrees with the fact of the tremendous impact of the legislation and studies a number of its provisions which force moderations on diverse aspects of internal contr

The Chinese dragon and its influence on Christianity in China Essay

The Chinese dragon and its influence on Christianity in China - Essay Example Generally, dragons have held positive connotations in culture of the Chinese since the time of the Song dynasty, in AD 960-1279. The Chinese made prayers to the dragon for rain. In Chinese culture, the dragon has been used as a symbol of imperial power; in fact, the emperor wore a dragon robe, reigned from a dragon throne and was thought to be a dragon incarnation (Yang 28-29). After several centuries, the dragon was chosen by the then Chinese Emperor Qing, to represent the Chinese nation. The dragon is apparently, today the most favourable of zodiac animals in china; the dragons perform dances often clad in red, during the Chinese New Year. Since the time that Christianity made its way into China, most Christian believers have held the view that the Biblical and the Chinese dragons are very distinct creatures and have ultimately accepted them; however, there are other shunned Chinese dragons, arguing that they are demonic, just as the biblical one. This paper shows that the dragon-Chinese dragon has become an important but yet controversial symbol in China, greatly influencing the interpretations of Christianity by Chinese people. A closer look at the dragon throughout the history of Chinese Christianity shows greater influence and a process of both enculturation and indigenization with regards to how the dragon is conceived in both traditional Chinese and Christian Chinese (Yang and An 48). The difference and or equivalence between the biblical dragon and the Chinese dragon drawn in the mid-19th century by Chinese individuals as well as by religious figure from the west that brought Christianity. The leader of the Taiping Rebellion between 1814 and 1864, Hong Xiuquan, considered himself as having being commissioned by God to slay the serpent of Revelation; the red big dragon; he also referred to the Manchu rulers as demons/serpents. This consideration of the Chinese dragon as equivalent to the biblical/Revelation’s dragon is evident in his condemnation of the popular rain dragon from the Eastern Sea, considered by the Chinese to traditionally bring rain (Michael 39).The second in command to Hong Xiuquan, Hong Ren’gan is also seen to understand the existence of the controversy concerning the dragon. He decreed that, â€Å"†¦all public notices and memorials had political significance and that the use of demon-like expression such as the dragon must not be used (Giddens and Giddens 78). Many scholars have argued that the negative connotations on the Chinese dragon during the reign of Hong Ren’gan were a clear indication of the influence that the advent of Christianity had on the Chinese culture. In fact, it-the dragon is not used anywhere in Liang Fa’s book, Good Words Admonish Age (Yang 101). In fact Hong argued that his attitude and vies of the dragon was largely influenced by Christianity. This condemnation however was not a universal one, but was more pragmatic and selective. Accordingly, he argued that the Taiping’s used precious dragon to adorn their utensils their imperial seal and vestments; this was apparently acceptable when compared to visions of heavenly golden dragons. In so doing, Hong certainly retained the imperial dragon that could his imperial authority; he discarded to dragon deity, which served as a source of devotion for the Chinese. The Taiping’s thus went ahead and propagated Hong ’s vie of dragons being devils; this resulted in subsequent transfer of individual religious affiliations between the Taipings and Christians, which offered the opportunity of diffusion of the beliefs. It is clearly, however, that Hong’

Corporate Social Responsibility and Business Ethics in Barclays Bank Dissertation

Corporate Social Responsibility and Business Ethics in Barclays Bank - Dissertation Example The three concepts were discussed in relation to the roles they play in the strategic management of businesses, indicating that while they are generally viewed as peripheral issues to the maximisation of profits – the generally conceded principal aim of going into business – these concerns are actually central to the generation of revenues that lead to higher profits. CSR and stakeholder satisfaction, in particular regarding employees and customers, appeal to the market and therefore contribute significantly to the strategic and, ultimately, the financial success of the business. 24 List of Tables Table 1: Values and behaviours at Barclays Bank 33 Table 2: Performance of Barclays vs. Industry Leaders 34 Table 3: Frequency distribution of respondents according to age 38 Table 4: Frequency distribution of respondents according to gender 39 Table 5: Frequency distribution of respondents according to educational attainment 39 Table 6: Frequency distribution of respondents a ccording to length of association with Barclays Bank 40 Table 7: Customer satisfaction ratings 42 Table 8: Employee satisfaction ratings 45 Table 9: Respondents' perception of Barclays’ CSR for employees 47 Table 10: Respondents' perception of Barclays’ CSR for customers 49 Table 11: Respondents' perception of Barclays’ CSR for society 49 Table 12: Respondents’ perception of Barclays’ CSR for Government 50 Table 13: Respondents' perception on Barclays’ CSR for competitors 52 Table 14: Respondents' perception of Barclays’ CSR for the environment 53 Table 15: Respondents' perception of Barclays’ CSR for sustainability 54 Table 16: Respondents' perception of Barclays’ CSR for civil society 57 Table 17: Summary of mean scores for CSR perception 58 Table 18:Table of Pearson correlation coefficients between CSR & EMPSAT/CUSTSAT 60 Chapter 1: Introduction 1.1 Chapter overview The introductory chapter of this dissertation sets t he context within which the research problem is to be viewed. Specifying the context of the study delimits the perspective that an issue may be viewed, and sets the focal point and the boundaries for the study. The background of the research problem shall be discussed, leading to a statement of the purpose and objectives of the study. From the objectives, the research questions are articulated, in order to lead to findings that would eventually support the conclusion. Any assumptions made by the study are included, as well as the definitions of specific words and phrases relevant to their use in the dissertation. The significance of the study and its relevance to the industry and the broader social environment is thereafter discussed. 1.2 Background of the research problem The banking industry is a pillar of the nation’s economy and a vital determinant of the health and viability of business activity. Banks perform four critical functions: (1) their intermediation function, w here the banks intermediate between economic units with excess and deficient financial resources; (2) they adapt and modify terms and risks to the market