3 Ways You Can Live Life Like an Olympian

3 Ways You Can Live Life Like an Olympian Photograph civility of Press Association Have you been viewing the Olympics? I sure have, and I’ve been flabbergasted not exactly at the physicality of these astounding contenders, however at the away from of mental and passionate quality on who returns home as a champ, and who returns home baffled. Here are only a couple of the perceptions I’ve been making with respect to what makes a genuine Olympian: 1. On the off chance that you fall and you CAN get up, get up. Mo Farah of Great Britain won the gold in the 10,000 meters in the wake of being incidentally stumbled on the tenth lap. He was unharmed and unflinching, rapidly coming back to the front of the pack and at last winning his second Olympic gold in this occasion. Here’s what he needed to state about the episode: â€Å"When I tumbled down I was simply thinking, ‘Try to get up, attempt to get up. Don’t alarm, don’t alarm, don’t panic.’ And then I got up, and I attempted to simply overcome it.† Conversely stands Russian acrobat Seda Tutkhalian. Tutkhalian over-turned on her descent from the pillar, falling on her rear, and afterward committed the very same error in her floor schedule. At long last, it was mental vaulting that bombed her. â€Å"I had been considering it and I was upset,† said Tutkhalian. â€Å"And on the floor I have fallen on the grounds that I was vexed after my fall on the shaft. During the floor work out, I don’t know, I didn’t have the quality any longer. I don’t comprehend why.† Is it true that you are helped more to remember yourself by Farah or by Tutkhalin? I perceive myself in them two. Farah’s mentality is one we could all remain to have when we meet with a mishap, or with any sort of disappointment. At the point when I commit an error with a customer (yes it occurs), or when I am made mindful of a grammatical error in my blog, I have an underlying flood of sadness; yet I am commonly ready to work myself out of frenzy, do whatever important to offer some kind of reparation, and cross the end goal somehow. Starting now and into the foreseeable future I will have Farah’s courage at the top of the priority list when I bumble in one of my interests. 2. It’s your exertion that truly matters-not whether you win. I heard the tumbling reporters state over and over that the gymnasts who return home fulfilled are the ones who realize they have given it their everything. Truly there may be frustration, however no â€Å"what ifs† to frequent them. There are numerous competitors who set precedents for their nations while not winning decorations. They have a ton to be glad for. There are other people who scored their own best. Not every person goes to the Olympics with desires for winning a gold award or any decoration whatsoever. There are numerous approaches to win. American acrobat, Alex Naddour, won a bronze, not the pined for gold, for pulverize horse-yet it was the first of any sort of decoration in quite a while for the U.S. Naddour said he had an inclination that he won the lottery. He shared, â€Å"This is actually what I needed since I was a small child, to go out and hit an incredible daily schedule, score the most elevated I’ve ever scored in my life, out of country.† For him, bronze was brilliant. I happened to get one of the quarter-last matches of women’s sea shore volleyball, and I trust the Brazilian group returns home glad in the wake of losing their match in an epic fight. Truly they cried, however they gave it everything before their own country, and to me that’s what makes a difference. My own level of fulfillment is certainly attached to how much exertion I put in. I encountered this marvel on the move floor this week. One night, I went out salsa moving and felt terrified to request that anybody hit the dance floor with me. I moved without anyone else for a large portion of the night, and returned home inclination crushed. The following night, I didn't let my dread stop me and I hit the dance floor with some new individuals, returning home having had a huge amount of fun. At that point on Saturday, I chose to go berry picking. I liked to have organization, so I put in some push to request that 5 companions accompany me. I wound up passing without anyone else and made some magnificent memories among the raspberry shrubs. Realizing I had not surrendered was the way in agreeable to me. Picking berries was additionally a sweet thoughtful encounter that enlivened the thought behind this blog! 3. When you’re winning, continue pushing, and have some good times! Swimmer Katie Ledecky started to lead the pack from the beginning in the 800m free-form, and she never let go of it. She was pursuing some different option from the 7 different swimmers in the pool: her own reality record. What's more, she beat it. So much for â€Å"Quit while you’re ahead.† Katie said she knew from the beginning of her race that she would have a world record breaking time. I’m speculating that having that objective kept her swimming quicker and quicker, even with the remainder of her rivals trailing behind her by seconds. Katie won, to some extent, since she was there for the experience more than the awards: â€Å"I’ve simply had a great deal of fun this week in the pool as well as just with my colleagues. The recollections mean more than the awards to me.† once more, it appears that having some good times is critical to performing great and keeping up the drive to win. Furthermore, what about Simone Biles, who didn't settle for the status quo in the wake of winning the women’s acrobatic all-around, yet scored a more than ideal score on her last vault to secure that award as well? The grin all over after that vault appeared beyond all doubt that she was living by her adage: â€Å"If you’re having a ton of fun, that’s when the best recollections are built.† At last, the unyielding Usain Bolt. He finished a question and answer session by kickin’ it up with some Brazilian samba artists. The man can move! A similar mix of pushing hard and having a fabulous time will acquire achievement numerous parts of life, including business. Such a large number of individuals become the best and afterward overlook that they have to continue developing to keep up their driving position. For me, it’s the continuous taking a stab at greatness that keeps things fun and testing. At the point when I saw I was getting exhausted of talking about LinkedIn, I employed a talking mentor. As of now I am considering new and inventive approaches to introduce material, draw in my crowd, and advance my administrations. The fun is back and I’m wanting to dominate this match. More Olympics are coming this week. What are you detracting from the astounding competitors in Rio?

Graduation Speech :: Graduation Speech, Commencement Address

In the course of recent years, we have developed from unreliable, juvenile first year recruits to effective, engaged and certain youthful grown-ups. This inconceivable change has been the consequence of our whole secondary school understanding. Everything from that first homecoming game, to late evening packing, to the last move at prom. These encounters have arranged us as a class and we have figured out how to love and regard our individual schoolmates. As much as this class has become together, all of us has additionally developed as a one of a kind person. We have discovered our gifts and interests. These interests have attracted us to various exercises and thusly helped shape our lives. A few of us have exceeded expectations scholastically while others have improved Summer High School by taking an interest in exercises, for example, Link Crew or ASB. A few of us acted in plays while others shared their melodic gifts by singing in the ensemble or performing with our remarkable band. A considerable lot of us have wanted to be associated with network administration with a gathering like KEY Club. Notwithstanding these school exercises, a large number of us have put time in occupations and other network exercises. These numerous decisions have molded who we are today: the individuals we met, the encounters we experienced, the exercises we learned. They have all had an effect on our lives and, thus, we have likewise had any kind of effect in the lives of others. The individuals hanging out in this crowd today around evening time have additionally incredibly affected our lives. Each individual in this gigantic arena has given us empowering words, supportive guidance or intense analysis. The help our family, companions and educators have imparted to us is priceless. Their mindful and commitment have helped us arrive today.

5 Alternatives to an Expensive Overdraft Fee - OppLoans

5 Alternatives to an Expensive Overdraft Fee - OppLoans 5 Alternatives to an Expensive Overdraft Fee 5 Alternatives to an Expensive Overdraft FeeThe relative APRs for overdraft fees can average as much as 17,000 percent! Here are five options that will cost you less.Overspend on your debit card, you’ll get hit with an overdraft fee. And while that might seem pretty annoying, it can actually be more much worse than that. With an average overdraft fee of $30 applied to every over-the-limit transactionâ€"no matter how smallâ€"research from the Consumer Financial Protection Bureau (CFPB) found that they carry an average APR of 17,000 percent!While many overdraft fees get incurred without the user realizing it, others might see these fees as an acceptable price to pay when they need to cover an unforeseen expense or surprise bill. Either way, there are better ways to handle your finances, ones that don’t involve APRs in the thousands.Here are five alternatives to help you avoid expensive overdraft fees.1. Link a savings account.Technically, this is a kind of overdraft protection, but it’s one that comes with much more reasonable costs.Most banking institutions will let you link a savings account to your checking account to serve as the first line of overdraft defense. When you overspend, money is taken from your savings account to cover it with only a small transfer fee on top.Of course, this plan only works if you have money in the savings account, to begin with, and that means making a plan to start strategically socking your money away. If you don’t have an emergency fund, this savings account would be a great place to keep oneâ€"so long as you don’t make overdrawing your account a regular habit, as that will drain your rainy day funds away.In order to start building your emergency savings, you’re first going to need a budget. If you don’t have one, here’s a handy guideâ€"complete with a free downloadable budget spreadsheetâ€"to get you started. Try following the principle of “paying yourself first” to ensure that saving money doesn’t take a back seat to everything else.2. Use your credit card.Many banking institutions will also let you link a related credit card to your checking account as a form of overdraft protection. While a savings account is a much better option than a credit cardâ€"as it doesn’t involve borrowing any money at allâ€"a credit card can make a good second line of defense. And it’s still better than an overdraft fee.If you find your bank account balance dropping dangerously low during those last couple days before payday, you might want to consider using a credit card to make some purchases instead of your debit card. That way, you’ll be sure to avoid overdraft fees altogether. (If you don’t notice when your bank account balance dips close to zero, sign up for account alerts.)The one danger with using a credit card is that you’ll wrack up excessive debt, so make sure you pay those purchases off as soon as you can. Do so within 30 days and you’ll be able to avoid paying any interest at a ll! So long as this card is only being used in rare emergenciesâ€"and it’s getting paid off ASAPâ€"this shouldn’t prove to be a problem.3. Ask friends and family for money.No one likes asking a friend or family member for money, but it’s a better alternative than incurring an overdraft fee. Like many of the options on this list, this is something you won’t want to make a habit of, but it can work pretty nicely as a one-off solution to the problem. Otherwise, you could put some of your close personal relationships in jeopardy.The key to asking a friend or family member for moneyâ€"even if it’s for a really small amountâ€"is to make sure that both parties are perfectly clear on the terms of the agreement. If your friend thinks that you’re paying them back next Friday, whereas you planned to pay them back gradually over the next three Fridays, that’s a recipe for disaster.To make sure that everybody is on the same page, it helps if you have an actual page! In this case, t hat means a written loan agreement. (That might sound like overkill, but it’s always better to be safe than sorry.) Here’s the good news: You don’t have to create your own! Just print out this free loan agreement template we created, fill in the relevant info, and you’ll be good to go!4. Consider a personal loan.If the shortfall you’re facing is on the larger side, you might want to consider taking out a personal loan to cover the expenses. Although this will mean incurring interestâ€"which is something you always want to avoid whenever possibleâ€"the APRs that you’ll end up facing could be smaller with the right personal loan than you would encounter with an overdraft fee.For folks with bad credit, however, their borrowing options will be a little more limited. They’ll have to choose between various bad credit loans and no credit check loans. And while short-term payday loans, title loans, and cash advances might seem like the better option, their quick turnaround and lump sum payments could end up trapping you in a cycle of debt.Instead, you should consider a bad credit installment loan. These online loans not only let you borrow more money, but they come with smaller, regularly scheduled payments. Some bad credit installment loansâ€"like the ones offered by OppLoansâ€"even report payment information to the credit bureaus. This means that on-time payments could help improve your credit score!5. Don’t use overdraft protection at all.The point of overdraft protection is that it prevents your debit card or checks from being declined. But if you find yourself regularly overdrawing your account, then you should probably turn your overdraft protection off. While this might be a little more hazardous if you’re writing a lot of checksâ€"as bouncing a check means incurring NSF feesâ€"debit card users should strongly consider it.Without overdraft protection, your debit card will simply be declined at the point of sale. While this can be embarrassing, it most likely won’t be the end of the world. In the meantime, you will be forced to start building better financial habits (like budgeting) that will help you spend within your limits and avoid overdrawing your account at all.Most of the alternatives we have suggested in this article don’t address the root of the problem, which is spending more money than you actually have in your checking account. The sooner you get that under control, the better off you’ll be. To learn more about how you can instill better financial practices, check out  these other posts and articles from OppLoans:Save More Money with These 40 Expert TipsHow to Raise Your Credit Score by 100 PointsFinancial Basics: Expert Tips for Smarter Spending10 Good Money Habits to Make Your Friends JealousDo you have a personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |Instagram

Is Doctor Assisted Suicide Ethical - 1363 Words

Is Doctor-Assisted Suicide Ethical? â€Å"Doctor-assisted suicide is the act of a physician facilitating the death of patient by providing the means or information to enable a patient to perform a life-ending act† (American Medical Association). When thinking of assisted suicide the first thing that comes to mind is whether it’s ethical for a doctor to assist in the suicide of a patient. There are many arguments both for and against the act but the arguments for it far outweigh the arguments against it. If I could make a meaningful change in society today, it would be for doctor-assisted suicide to become legal, however, with limitations. The legalization of doctor-assisted suicide would eventually come to affect everyone at some point in time whether they are willingly participating in the act or not. If doctor-assisted suicide became legal people as well as their families would gain the choice of either letting them live or letting you die. Limitations would need to b e set in place to prevent people with illnesses such as depression or the like to simply be able to walk into the doctors office and asked to be prescribed death. The system should be strictly reserved for those with terminal illnesses that are causing a great deal of pain and suffering among the patient. This concept is similar to what we do with our beloved pets when they become too ill to withstand life anymore. We don’t want to see themShow MoreRelatedUtilitarian And Virtue Ethics Of Physician Assisted Suicide1314 Words   |  6 PagesPhysician Assisted Suicide Physician assisted suicide or PAS is a controversial topic in the world today. But the important question is, should physician assisted suicides be allowed in cases such as: the patient’s suffering is far too great and there is no chance of them getting better? This is a highly debated issue, that has activist groups on both sides fighting for what they think is the right thing to do. Physician assisted suicides can stop the excruciating pain a patient is in, especiallyRead MoreEuthanasia And Physician Assisted Suicide1629 Words   |  7 Pagesillnesses or major health problems, assisted suicide creates options to reduce the amount of suffering the patient must enduring. Dying with dignity could be beneficial for not only the person who is dying, but also the person’s family and loved ones. This option, however, is often viewed as unethical and immoral throughout society. Physician-assisted suicide offers an option for those with health issues but poses various et hical and social issues. Assisted death is practiced in two differentRead MoreEuthanasia and Assisted Suicide1645 Words   |  7 Pagesphysician-assisted suicide are actions at the core of what it means to be human - the moral and ethical actions that make us who we are, or who we ought to be. Euthanasia, a subject known in the twenty-first century, is subject to many discussions about ethical permissibility, which date back to as far as ancient Greece and Rome. It was not until the Hippocratic School removed the practice of euthanasia and assisted suicide from medical practice. Euthanasia in itself raises many ethical dilemmasRead MoreEthics of Euthanasia Essay1475 Words   |  6 Pagestype of relief from this hardship, even if that relief is suicide. Euthanasia or assisted suicide is where a physician would give a patient an aid in dying. â€Å"Assisted suicide is a controversial medical and ethical issue based on the question of whether, in certain situations, Medical practioners should be allowed to help patients actively determine the time and circumstances of their death† (Lee). â€Å"Arguments for and against assisted suicide (sometimes called the â€Å"right to die† debate) are complicatedRead MorePhysician Assisted Suicide Should Be Legal1325 Words   |  6 PagesThe topic of physician-assisted suicide has become very controversial because of the ethical questions. The physical state of health of the patient, the patient’s personal life, and even the financial pressure of the patient are all factors to consider when contemplating whether or not to legalize this controversial cause of death. Physician-assisted suicide regarding medical ethics states that a physician cannot legally give any patient a lethal injection to end their life, but they can take theRead MoreA Research Study On Physician Assisted Suicide925 Words   |  4 PagesLiving Proof, Miss Evers Boys, and You Don’t Know Jack are all movies based off of true events. These three movies all faced ethical and unethical events. Living Proof has to do with a compassionate research doctor that is trying to get a drug for breast cancer called Herceptin approved through the Food and Drug Administration (FDA). This Film has some unethical and ethical events take place like favoritism, the funding, and of course the process to get FDA approval. Miss Evers Boys had several unethicalRead MoreArgumentative Essay : Physician Assisted Suicide Essay1095 Words   |  5 PagesArgumentative Essay: Physician Assisted Suicide, Should it be Legalized? Physician assisted suicide is requested by the terminally ill, typically when the pain from the illness is too much to handle and is not manageable through treatments or other medications. Assisted suicide is more of a broad term for helping someone die a good death, physician assisted suicide is where a medical doctor provides information and medication and the patient then administers the medications themselves. EuthanasiaRead MoreThe Suicide Of A Patient Essay970 Words   |  4 Pages â€Å"The suicide of a patient suffering from an incurable disease, effected by the taking of lethal drugs provided by a doctor for this purpose,† is the dictionary definition of assisted suicide, or assisted death. Much debate has taken place over whether or not this should be a right of the terminally ill, and whether a doctor can grant that wish. Although modern medicine has brought a multitude of benefits to humanity, it cannot relieve the pain and suffering associated with the dying process. Read MoreThe Ethics Of Physician-Assisted Suicide1381 Words   |  6 PagesPhysician-assisted suicide can be the withholding of essential care, but it can also be the administration of lethal drugs either by the patient themselves or by a medical professional to end suffering from incurable diseases (Richmond, 2014). Is it fair to make someone live in chronic pain for the rest of their life when there are options? If someone has tried all options to live and have come to terms with no more options, is it okay to help them end their life? The choices do not come easy andRead MorePhysician Assisted Suicide And Voluntary Euthanasia1348 Words   |  6 PagesPhysician-assisted suicide and voluntary euthanasia is still under scrutiny for a number of reasons. â€Å"In spring, 1996, the Ninth and Second Circuits were the first circuit courts in the country to find a constitutional prohibition against laws which make physician-assisted suicide a crime† (Martyn Bourguignon, 1997). Ne w York was one of the states that followed this prohibition. Eventually, The Ninth and Second Circuit, â€Å"allow physician-assisted suicide while attempting to protect individuals from

Mascots An Honor Or An Insult - 1352 Words

Mascots: An honor or an insult? The idea of using Native American names and images in sports has been a topic of public controversy in the United States since the 1960’s. Sports mascots that continue to promote racial, cultural, or bias slurs should be changed so that racial discrimination can be stopped and everyone can be treated equally/fairly. In today’s society, there is no room for racism or stereotypes especially in sports; an activity that is supposed to bring people together to support and celebrate challenges. The use of native names or symbols by native teams is a harmful form of ethnic stereotyping which is at best prejudicial and perhaps even discriminatory, and should be eliminated. In 2005, then NCAA President Myles Brand issued a â€Å"self-evaluation† to 31 colleges to examine their choice of mascots and the potential of offensive imagery. Nineteen of the schools either changed their choice of mascot, or eliminated offensive images; it is an insult to Native American people to those schools with offensive mascots. This research and mainstream support for the elimination of mascots has come after decades of action and protest from Native American groups such as the National Congress of American Indians (NCAI) and the National Coalition Against Racism in Sports and Media. So as a result, some schools, colleges, and professional teams are retiring their names, images, etc. and sadly, some are not. Most notable, professional sports teams (i.e ClevelandShow MoreRelatedIndian Mascots Vs. Racial Discrimination1200 Words   |  5 PagesIndian Mascots vs Racial Discrimination Do you feel having Indian mascots for sports teams take part in racial discrimination? In the sports world, representing a Native American is showing honor and respect. In society, communities take it as offensive and racist towards Native Americans. The government recognizes the positive representation of Indians and has given them more rights than state citizens. Considering the history, what it means, and general attitude, Indian mascots should be allowedRead MoreAnalyzing Team Names and Mascots by S. L. Prices Article, The Indian Wars977 Words   |  4 Pagesand mascots used in sports teams in high school, college, and professional levels. The article is written for Sports Illustrated and offers readers an insight into this debate whether indigenous symbols in sports are honoring or insulting in Native Americans. The author addresses this topic with evidence of both sides of the issue, and leaves the reader aware of the topic and its unclear stance in today’s society. T his article examines the controversy of using Native American names and mascots byRead MoreEssay on Native American Mascots Are Racist594 Words   |  3 Pagessport, at every level of competition, have a mascot. It is the mascot that represents the competitive spirit and team identity, motivating players and fans alike. Does the symbol chosen have any impact on whether a team wins or loses? Unlikely. But the choice of a Native American mascot continues to ignite debate and controversy among athletes, fans and alumni, as well as those people who might otherwise be disinterested in sports. Utilizing an Indian mascot is nothing more than a veiled attempt atRead MoreEssay on Sports Mascots Honor the Native American Indian1796 Words   |  8 Pageswitnessed the peak of the protests over the use of mascots with American Indian themes.   With two of the major professional sports teams in question making front-page news across the country, many of us heard American Indians complain ts for the first time.   Suddenly, thanks to the cries of thousands of demonstrators, the names of many Americans favorite teams had become synonymous with nigger.   American Indians believe that the use of these mascots presents a slanderous stereotype of their societyRead More The Debate Regarding the Use of Native American Mascots Essay1353 Words   |  6 Pagescompetition, have a mascot. It is the mascot that represents the competitive spirit and team identity, motivating players and fans alike. Does the symbol chosen as a mascot have any impact on whether a team wins or loses? Unlikely. But the choice of a Native American mascot continues to ignite debate and controversy among athletes, fans and alumni, as well as those people who might otherwise be disinterested in sports. Why all the controversy? The dispute over whether Native American mascots should beRead MoreThe Chicago Blackhawks, Washington Redskins, Cleveland1379 Words   |  6 Pagesthat use Native American culture to represent them through the means of tribe names, logos, and mascots. These teams have received a lot of media attention around the debate on if the representation of Native Americans is offensive or not. Controversy surrounding Native American mascots first came into the public eye during the 1960s Native American Civil Rights movement, where the use of these mascots was criticized for being insulting. However, the people who conceived these teams did not acknowledgeRead MoreAnalysis Of The Film Blaxploitation Films And Chappelle s Show 1633 Words   |  7 Pagesfilms† in which African American’s society was shown through raunchy and low budget films. Sports teams, colleges, and public schools have turned Native Americans into an irresponsible excuse of a mascot the can offend and can b e considered disrespectful by those in their society while being called an honor by those who use it. In some cases though, it can be seen that when members of the respective societies that are being depicted within the media are allowed to have some creative decision with itRead MoreHow Did Walt Disney Create Mickey Mouse2914 Words   |  12 Pagesthe more mischievous and adventurous sides of his personality, beginning with the video game Epic Mickey. Mickey was first seen in a test screening of the cartoon short Plane Crazy, on May 15, 1928, but it failed to impress the audience and to add insult to injury, Walt could not find a distributor. Though understandably disappointed, Walt went on to produce a second Mickey short, The Gallopin Gaucho, which was also not released for lack of a distributor. Steamboat Willie was first released on NovemberRead MoreBrand Building Blocks96400 Words   |  386 PagesAirlines Mileage Plus, American Airlines Advantage, and British Air ways Frequent Traveler programs) are now being adapted by a host of brands in a variety of product classes, including books (Waldenbooks Preferred Reader), hotels (Hilton Senior Honors Frequent Traveler Program), fast food (Burger King Frequent Customers Club), parking (Park-n-Fly Reward) and even cars. The GM MasterCard, launched in 1992, provides customers with a rebate on the purchase of a GM car or truck (excluding Saturn) equal

Analysis Of Soni And David Pitts On Diversity And Work...

In this assignment, I will deliberate the theoretical framework of two authors, Vidu Soni and David Pitts on the topics of diversity and work performance. I will discuss a brief review of Soni’s theoretical model of receptivity to diversity and summarize her findings. Secondly, I will examine the relationship between diversity and work related outcomes presented by David Pitts. Thirdly, I will consider the assumptions of diversity and work performance and lastly, address the theories and recap the conclusions. As I read the article, â€Å"A twenty-first-century reception for diversity in the public sector: A case study† by author Vidu Soni, the main focus of the study is about how receptive the workforce is about diversity and who are the main components to contribute to the change in the workplace. Soni studied the â€Å"diversity model† aiming as an involvement and a practical method to fully and equitably utilization towards rewarding employees or workers of different racial or ethnic backgrounds. â€Å"This model not only advocates that organizations actually recognize, accept, and value diversity in workplaces.† The model show’s that diversity is a desirable goal in itself. In the theoretical model of Soni’s case study (2000), â€Å"receptivity to diversity was measured by employee perceptions of salience of diversity and their attitudes toward diversity.†(p. 397) Soni talks about the theoretical model and its focus on three independent variables. These variables are assumed to

Auditing and Assurance Wesfarmers

Question: Discuss about the Auditing and Assurance for Wesfarmers. Answer: Introduction: Wesfarmers Group is engaged in several business operations like liquor, supermarkets, convenience and hotel stores, office supplies, home improvement services, and an industrial division with operations in energy and fertilizers, chemicals, coal, distribution and processing of gas, and safety and industrial products. The company segments comprise of Coles, Home Improvement and office supplies (Bunnings), Departmental stores (merchandise) that includes Target and Kmart, Office works, Insurance, Industrials that includes WesCEF, WIS, and Resources. Initially it started as a farmers cooperative in Western Australia but today it is considered as one of the largest and diverse retailer company of the country (Wesfarmers Limited, 2016). Five laws or regulations that affect the operations of Wesfarmers The five laws or regulations that affect the operations of Wesfarmers comprise of the following. Firstly, the competition policy that ensures continued development of competition and not safeguarding of businesses from competition. Such competition laws are vital to avoid anti-competitive practices like collusion, cartels, and misuse of market power debarring entry of competitors in the markets or significantly decreasing competition. Secondly, Wesfarmers is highly committed to standards of ethical behavior and conduct in each of its business activities, and promotes and assists a culture of ethical and honest behavior, effective corporate governance, and corporate compliance (Wesfarmers Limited, 2016). In this regulation, Wesfarmers motivates reporting of any type of suspected illegal, immoral, and fraudulent conduct involving its own businesses, and ensures that these people can make a report without fear of reprisal, disadvantage, and intimidation. Thirdly, the regulation of inves tor engagement bounds the company to identify relevance of providing its shareholders an access to complete details and capability to take part in the company decisions. Fourthly, the conflicts of interest policy that sets out every disclosure obligations of the directors in relation to the conflicts of interest, and methods to be followed when such conflicts of interest arise (Cappelleto, 2010). Hence, directors must not place themselves in such a place where they possess a material interest that can give rise to conflicts of interest. Lastly, the anti-bribery policy defines the roles and duties of the Group in observing the prohibition of bribery. Primary Competitors The fact that Wesfarmers engages in several kinds of activities makes it susceptible to high competition in the market. Its major competitors in the retail sector include Woolworths Ltd and BHP Billiton Ltd. Woolworths Ltd is known as the best food retailers of Australia ahead of Coles. It operates over 3200 stores in New Zealand and Australia, including more than thousand supermarkets under it. It engages in gasoline, electronic services, hotel services, merchandise, etc. BHP Billiton Ltd is regarded as one of the largest resource and mining companies of the world that employs more than 100,000 employees in over 25 countries. It also operates in production of coal, copper, and iron ore. The minor competitors comprise of Myer Ltd and David Jones. Myer is mainly engaged in merchandise services throughout Australia and only has 66 retail stores that fail to compete strongly with Wesfarmers. Even David Jones Ltd is a departmental store of Australia, owned by Woolworths ltd and gives str ong competition to Myer itself with 39 stores in Australian territories. SWOT Analysis of Wesfarmers Wesfarmers is a company which is dealing in retail as well as retail business. It has expanded its business all over the Australia. This company has its name in almost all the household as well all the business office in Australia. However with the name growing big comes along with huge amount of strength as well as threats. Here is an overview on the SWOT (Strength, Weakness, Opportunities and Threats) analysis of Westfarmers. Strength: Presence over indigenous market: The Company is widely spread all over Australia. It has its registered office in Australia itself. Being a company originated and grown in the home country gives a confidence to the customers and being a company for over 100 years helps in creating a brand in it. The company was manufactured in the year 1914 (Wesfarmers Limited, 2016). E-commerce: The company has very well understood the need of the customers of todays world and has entered into e- commerce wherein the customers can choose items online without even going to the stores and that too at a price at which the customer demand as it has products in all range starting from a low range to a standard range. Weakness: Multinational growth: One of the major weakness of the companys is its non- presence in the global market. In todays fast changing world, presence in the global market is a must to grow its brand value. The brand value needs to be enhanced as the competitors are framing different mechanism to get a strong boost. Strong Competition: As the company mainly deals in the domestic market, it has to face strong competition against the products by the multinational companies as they offer the products at lower cost due to their global presence. It is the cut throat competition that dents the profit and sales. Hence, strong competition turns out to be a weak point. Opportunities: Global Market: Since the company deals in household items, office furnitures as well as natural resources, it has a big opportunity of entering the global market. It has a diversified strategy that can play a vital role in balancing the business. With its wide employee base and experienced board of directors, the company can easily enter the multinational market which will also help it in creating its name worldwide. As it deals in natural resources and depletion of natural resources is a growing concern nowadays, it can gain huge amount of profits by selling it overseas. Takeovers: The Company is well efficient with the trend of past takeovers. It has quite well managed the entities which it has taken over in the past. The biggest one was the takeover of Coles through which it emerged as the leader of Australian retailers (Wesfarmers Limited, 2016). The company can still keep an eye on the emerging markets and can expand to any new division with the takeover schemes. New division will provide further chances of elaboration and play an important role in cementing the position of the business. Moreover, this will provide more advantage in terms of skills and goodwill. Threats: Local Production: As the company is not entering in the global market, it depends on the local labours. The labour cost in Australia is quite high. This results in higher costs of the products being offered to the customers. If the company will not shift its production to low- cost regions of the world, it would become difficult to maintain cost- effective products for its customers (Boyd, 2016). Specialized Products: The Company is not being able to offer specialised products at a price at which the competitors are being able to offer the same. As a result of which the demand of its products are falling constantly. Its non- global presence is a big threat (Kruger, 2015). Five accounts susceptible to misappropriation or fraudulent financial reporting The five accounts that are susceptible to fraudulent financial reporting or misappropriation within the financial statements of Wesfarmers Group are as follows: Inventory- Throughout Wesfarmers group, there are huge amounts of inventories. These inventories are at risk of being damaged, stolen, or becoming obsolete that is especially true for items like clothing and food. As per the annual report of 2015, the total expenses on inventory for the entire Wesfarmers Group were $43,045 million. Besides, being a business with large retailing operations, it has a substantial amount of physical inventories in various locations. Hence, there is also a risk of inventories being incorrectly recorded and misplaced. Even keeping a track of these inventories is an extremely problematic and complicated task due to Wesfarmers sheer size. Sales- With a massive number of occurrence customers moving towards internet shopping, there still exists a huge chance that fictitious sales may arise because internet data is highly subjective to hackings and manipulation both externally and internally (Lapsley, 2012). As a result, such sales can be overstated by the Group to depict more effective and advantageous results to the stakeholders. This is evident from the fact that online sales within Wesfarmers Group enhanced by 51% in the year 2015, thereby paving ways for misappropriation and fraudulent activities. Account receivables- The valuation of Wesfarmers Group encounters with a high and extreme volume of sales allocation transactions offered on credit. Hence, ageing accounts become susceptible to misappropriation or fraudulent reporting because it can be difficult to track who has or has not paid back their credit. This can further result into incorrect valuation of trade and other accounts receivable in the financial statements of the Group (Livne, 2015). The credit terms provided by the Group extend up to thirty days on trade receivables. Cash- Wesfarmers Group employs thousands of employees in its business that aims to cater millions of customers across the globe. Therefore, it is more likely that there are huge cash receipts from the customers. These further results into creation of risks in the balance sheet account because of huge cash balances (Livne, 2015). Besides, the major reason why cash is susceptible to misappropriation of fraudulent activities is that it can more easily be diverted than credit card payments or customer checks. Wesfarmers have obtained $67484 million cash receipts from its customers and this proves the fact. Expenses- Wesfarmers Group pays over $59,100 million expenses as per its annual report of the year 2015. These comprise of expenses related to freight, occupancy, amortization and depreciation, impairment, employee benefits, and raw materials. Some of these expenses are easily susceptible to misappropriation or fraudulent activities in the financial statements of the company. The fraudster can easily be able to establish false vouchers or documents in support of the enhancement in expenses, thereby gaining a position to minimize its tax liability. However, generally, companies do not tend to enhance their expenses; instead, they understate it to make revenues attractive in the eyes of investors (Roach, 2010). Wesfarmerss corporate governance arrangements The Board of Directors at Westfarmers Limited is a good example of strong corporate governance set up. It aims at meeting all the corporate governance obligations thereby serving in the best interests of shareholders and providing satisfactory returns. The management designs the internal controls that are monitored by the audit and risk committee on a timely basis to ensure that the integrity in financial reporting is maintained (Wesfarmers Limited, 2016). It is also the duty of the directors to ensure that such internal controls are in place to ensure that there is compliance with the legal and regulatory requirements and enable preparation of financial statements that is free from material misstatements or errors or frauds (Manoharan, 2011). The reasons for placing reliance on the control environment at Westfarmers are as under: The Board comprises of a majority of independent directors which ensures that the director is free from any business or such other relationships that could have the impact of materially influencing the business decisions and the independence is also assessed on a regular basis to ensure unbiased decisions (Wesfarmers Limited CG, 2016). A Nomination Committee chaired under an independent director performs reviews of each non-executive director and makes recommendations to the Board with reference to the same. Thus with the key focus on scheduling individual performance reviews of the Board and consideration of feedback from major shareholders, the nomination committee ensures that the decisions of the company are taken in the best interests of the stakeholders (Hoffelder, 2012). The Board Charter also sets out the various principles of ASX that are compiled by Westfarmers and is set out with the aim to ensure honest and ethical behavior and suspend illegal and undesirable conduct (Wesfarmers Limited CG, 2016). Thus there is certainty about the quality of business being conducted by Westfarmers and the ASX principles compliance reaffirms the same. The Securities Trading Policy and Market Disclosure Policy are designed to ensure compliance with insider trading laws and checks on the list of prohibited transactions under the Corporations Act (Manoharan, 2011). Thus share transactions by Directors are subject to this scrutiny on a regular basis. The Market Disclosure Policy also ensures that the company complies with the regular disclosure obligations with reference to the market sensitive information to ensure that the confidentiality of the shareholders is retained (Wesfarmers Limited CG, 2016). The Audit and Risk Committee has direct access and communication with the companys external auditors, Group Assurance and Internal Audit management committees. This facilitates the monitoring of adequacy of controls and making alterations from time to time as per the requirements (Gay Simnet, 2015). The Risk Management Framework at Westfarmers is reviewed on an annual basis to facilitate the establishment of controls that are essential for the risk exposure and crisis management of the company (Wesfarmers Limited, 2016). Thus the above factors combined with the Code of Conduct at Westfarmers make it a reliable company as the overall controls environment is governed by various committees set up for different purposes. These guiding set of principles and reporting framework at various levels is tested and approved by the external auditors which make reliance more acceptable. Audit Plan affected by the scandal Upon analysis, it can be noticed that Target had displayed bad performance during the last year due to the market competition and such pressures. To compromise this situation, Target asked its suppliers to pay 25% rebate on the stocks that were already marked down and promised to make up for the same during the second half of the year (Wesfarmers Limited, 2016). The fact that almost ten of the staff members were involved required a closer supervision of the sales returns; write down of obsolete stocks and rebates. It would be surprising to note that due to the modern systems, it is possible to obtain information about the sales and margins on an hourly basis and so the excuse of not being aware about the performance cannot be believed to be practical (Parker, 2016). Hence the audit plan should incorporate the requirements to track these abnormal fluctuations in the rebates and make a detailed analysis and discussion with the management about the same (Wesfarmers Limited CG, 2016). The audit plan can also incorporate checks at various managerial levels to ensure that items like rebates and discounts are verified by the team. As systems are in place, information is readily available but the integrity of the people cannot be verified by systems for which the audit plan has to include certifications from the management (Christensen, 2011). A few noteworthy points are listed below: Audit plans should focus on the accuracy and periodicity of the payments and whether it is in line with the provisions of the contract. A complete audit trail should cover the complexities of the contract and the wide spectrum of earning rebates. There is a difference in rebate earned in comparison to rebate collected and this gap needs to be analyzed. There should be various checks performed like claim counts versus utilization and whether the rebate payment formula gives the same results as calculated by the systems. Analysis and comparison of rebates quarter wise. Test verification of the rebate claims that are denied, paid or on COB, etc. Setting up of automatic filters for non-rebatable claims. Verification of the rebate files submitted to the top management in the company and the documents submitted to the auditor for verification. Obtaining external confirmations on a random basis from various parties. Confirmation ensures that the payment is made and therefore, a strong assessment can be done. Review the master set up for rebates processing, logics applied, accruals and calculations on monthly basis and review of the reconciliations between the estimated rebates and actual rebates received (Baldwin, 2010). Review total rebates received and total rebates paid and the report for unpaid rebates. Review the series of payments received from the same party and the settlement payments done where the percentage is under doubt (Parker, 2016). This will help to keep the fund under evaluation and ensure a smooth functioning. Cash flow problems related to the rebates can be analyzed by the management and submitted to the auditors (Baldwin, 2010). Thus these are the few points that can be added to the audit plan and make the audit more effective in dealing with the eye wash happening in the rebates section. This will help in the audit plan of 2017 and will ensure that that the activities of Wesfarmers are under control. Conclusion From the above it can be ensured that the audit plan and policies play a pivotal role in shaping the destiny of the organization. Wesfarmers has operated in a strong fashion however, it is subjected to challenges. The challenges pour from competitor and various other circumstances. The frauds and scandals have highlighted the flaws in the auditing process. Therefore, the management and the audit department should stress on a proper planning so that any future issues are neutralized. Moreover, the report signifies that the company has strong fundamentals and to have a better position it must increase its brand value. Bibliography Baldwin, S 2010, Doing a content audit or inventory, Pearson Press. 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