Time Square Essay -- American History, New York, Tourists

Today, Times Square is seen as a tourist attraction with people traveling to the United States from all over the world to visit New York. Times Square did not always have the glamorous portrayal it has in movies today. In the early twentieth century, Times Square was not a pleasant place and the sounds one would hear would be a lot different from today’s sounds. In the 1920s Times Square had a brief heyday, from thriving entertainment and being the center of flashy commercial advertising, but Prohibition caused many downfalls in the entertainment industry, forcing theaters and nightclubs to close. Times Square was full of nightclubs and theaters, so as the demand lowered because of the limitation of serving alcohol, these venues needed to adapt their business to continue to bring in customers. Most theaters started to add rooftop gardens, cabarets, and restaurants that can maintain the long hour shifts for extra income (Reichl 53). During the â€Å"1927/1928 theater season, seventy-six theaters were operating in the greater Times Square theater district, but within a decade the number had dropped to thirty-three,† with none of the theaters on 42nd street in operation by the end of the 1930s (Reichl 56). Eventually, theaters had to resort to other forms of entertainment; certain parts of Times Square were known for the peep shows, burlesque clubs, and video stores (McNamara 20). With a new crowd of people coming to see this type of entertainment, there were different sounds heard on the streets of Times Square then heard today. Outside of the theaters one would hear the chatter about the pornographic film being shown, hustlers trying to pick people up for a few hours, and mass transit passing by. A few decades later, the do... ...ainment attractions and sharing in the booming tourist economy of Times Square† (Reichl 160). Kids and adults now enjoy the theatrical performances of many Disney classics along 42nd Street and can end the visit by visiting the two-storey Disney Store to purchase various Disney trademarked items. Most people do not realize the history of 42nd Street when they are passing by because they hear the speakers playing the soundtracks to shows, people selling tickets in the box office as well as scalpers trying to find tickets, and anxious kids waiting for the show to begin. The tourist area that 42nd Street has become is flourishing all because of Disney and how the officials looked passed the dingy look and negative views of 42md Street. Instead of focusing on the looks and negativity, Disney looked at this project as a business venture with a big picture aspect.

Berny Madoff’s Ponzi scheme

Globalization has necessitated the need to develop a code of ethics for different professions, due to the need to streamline operations across the globe. The accounting profession is one of these professions which is regulated by the code of ethics. The major purpose it serves in this profession is to prevent misconduct of accounting professionals, and develop a standard way of presenting accounting information. However, despite the presence of these regulations, serious scandals such as fraud still occur in many companies. There has been an increase in financial scandals in various US companies, and most of them can be traced to lack of controls and disregard for the code of ethics. The code of ethics has been ignored by many professionals, a fact which has led to the emergence of these scandals. The Berny Madoff ponzi scheme is one such scandal, which has caused huge losses to various banks and other institutions. The paper will discuss this scandal in relation to the accounting code of ethics, and their role in preventing such scandals. Berny Madoff ponzi scheme. Bernard Madoff masterminded what may be the largest stock fraud in history committed by an individual. He confessed to having masterminded a ponzi scheme, through his firm Madoff Securities, which led to losses amounting to over $50 billion (Zambito and Smith 2008). A ponzi scheme is a fraud which involves payment to investors, out of funds received from previous investors, rather than profits. Madoff used a strategy of investment called the split-strike strategy. It involved purchasing stocks, and simultaneously purchasing options, to guard against losses, and these were known as ‘puts'. In case the cost of the ‘puts' went down, Madoff would trade in ‘calls', which involved trading these stocks to buyers who aimed at profiting from small gains. This strategy ensured that he made small profits in cases where shares appreciated in value, after numerous trades. However, with time, some financial analysts began questioning the profits that Bernard made from these transactions. They were concerned that his methods of investment were incapable of earning the level of profits he enjoyed, and recommended an investigation on his activities (Henriques A1). In fact, Madoff Securities were investigated for over eight times by the regulatory bodies. The investigations did not find major problems, since they were not looking at the in-depth operations of the firm. Some analysts actually suspected that it was a ponzi scheme way before it became clear to investigators. They questioned the use of an audit firm with only one auditor and accountant. They also questioned the unusual strategy which involved avoiding disclosure of SEC holdings, through selling them for cash after each period. In the beginning of 2008, the market downturn revealed that Madoff Securities were in fact dealing in a ponzi scheme (Naidu 2008). This was as a result of several requests by investors to withdraw their money, which amounted to $7 billion, and Madoff could not honor their requests. He was forced to confess the truth to his sons, who reported him to the authorities. He was subsequently indicted in December last year. Role of strict standards in the accounting profession. The accounting profession requires ethical guidelines which are used by both the accounting professionals and their clients (Carey and the American Institute of Certified Public Accountants 1-5). The strict standards are beneficial to all stakeholders in a business. We will analyze the role of these ethical standards according to various stakeholders. Accountants. In these modern times, globalization has transversed boundaries and connected the world. This has led to the emergence of multi-nationals, with branches in different countries. Since the parent company has to standardize its accounting reports across several branches, it is necessary to present a global standardized way of preparing and presenting accounting reports to stakeholders. Examples of accounting standards are the IFRS and GAAP accounting standards. This is one purpose that accounting ethics serve, and it enables companies to easily compare their performance with others. Accounting ethics also helps accountants to maintain integrity and professionalism in their profession so that it may remain respectable and profitable. Ethical standards such as professional competence, objectivity and confidentiality help the accountants to prepare accurate and complete financial reports. Flouting these standards leads to consequences such as de-registration from the professional body, suspension of the practicing license, criminal liability among other consequences. Madoff flouted these principles through committing fraud, a situation which led to criminal proceedings being preferred against him. He now faced the possibility of spending a long time in jail, as well as paying heavy fines. Investors. Investors require knowledge about market trends and stock movements before making investment decisions, in order to get favorable returns on their investment. After investing in a company, investors are very interested in knowing the performance of the company in order to make investment decisions. In order to facilitate this, it is important to prepare accurate financial statements which enable investors to make proper adjustments in investment. The accounting code of ethics helps in achieving this purpose through enabling accountants present the true state of affairs of a company. In the case of Madoff Securities, the disregard of the code of ethics has led to the apparent loss of over $40 billion by investors who include companies, banks and individuals. Some investors, such as Martin Roseman who lend Madoff $10 million, have sued him in order to get back money they are owed. Financiers. Before a company can receive a loan from a financier such as lending institutions, there are various aspects which are analyzed. One aspect is the financial performance of the company. If a firm performs financially well, then the financiers are confident that they will be paid back, with minimal risks. However, firms which perform poorly have higher chances of defaulting on payments and are less likely to receive loans from financial institutions. As a result of this, firms may be tempted to misrepresent their financial position in order to obtain financing. Madoff Securities can be said to be one firm which engaged in this practice, since the firm could not survive without additional funds from new investors, in line with operations of a ponzi scheme. The code of conduct comes in, in such a case, to discourage these practices. Accounting principles such as prudence requires that firms do not understate their expenses or overstate their assets, in contrast to operations of ponzi schemes. This is beneficial to financial institutions since it enables them to finance companies with minimal risk. Accounting principles responsible for Madoff Securities collapse. Several accounting principles which were broken, were responsible for the financial collapse of Madoff Securities. One principle, prudence, requires that accountants anticipate losses and make provisions for them early enough (Kwok 30-38). It also requires accountants not to overstate the value of their assets (Marriott et. al. 221-223). Madoff Securities did not provide for the losses attributable to fraud, and actually concealed them over several years, through the use of subsequent investor deposits. When they were finally revealed several stakeholders were affected, among them some charitable organizations which had to close down due to reliance on this firm (Storm 2008). According to Warren et. al. (34-35), another principle of accounting is the matching concept. This concept states that expenses which are incurred in the course of generating revenue should be recognized during this period. This is done to ensure that comparison between revenues and expenses of a similar accounting period can be achieved (Eskew and Jensen 40-42). This is very important in making business decisions. In the case of Madoff Securities, expenses which the company incurred were matched with future revenues in order to conceal the fraud. This means that the accountants did not follow the matching concept, which was responsible for the accrual of huge expenses over the years. Accounting standards require that the accountants present the true state of affairs of a company. Misrepresentation of the state of affairs is a violation of these standards. Madoff Securities misrepresented the financial position of the company, presenting it as a profitable firm, yet it had significant liabilities. This misrepresentation attracted new investors, which led to the company owing over $50 billion to investors at the time of collapse. Conclusion and recommendation. Bernard Madoff's ponzi scheme has been seen to have affected very many local and international investors. The ignorance of the code of ethics and accounting principles that have been discussed was a major factor which caused this scandal. The code of ethics in accounting helps to protect the interests of all stakeholders of a company. It also makes it easier for companies to compare performance, due to standardization of accounting report preparations and presentation. Madoff forgot one fact about ponzi schemes; they eventually collapse due to the inability to handle sudden withdrawals by investors. The economic meltdown played a role in exposing this scheme. It is important that the role of the market regulators with regards to the scheme be thoroughly investigated, since several warnings were given prior to detection of the scandal. If the authorities had acted sooner, the loss would have been lower than it currently is. The stock regulatory authorities need to establish measures that deter such practices. One of them would be to scrutinize transactions of companies with the aim of detecting irregular and unethical accounting practices. The next course of action would be to investigate the detected suspicious trends, even if the actions are not entirely illegal. This will minimize the risk of loss attributable to fraud, by investors in the stock market.

Sake Restaurant - Free Essay Example

Sample details Pages: 2 Words: 688 Downloads: 8 Date added: 2019/10/10 Did you like this example? EXECUTIVE SUMMARY In the present days, a hotel is not just a place to provide just food, beverage and accommodation but is always able to provide the guest many of the different facilities one needs and feels is necessary in a hotel for one to feel served as he or she needed. In a hotel there are various services that are offered that weren’t offered before such as the provision of alcoholic and non-alcoholic drinks and beverages. A hotel is able to provide room services, restaurant, lounges and coffee shops but on these, our primary purpose is focused on the wines provided in a hotel. Don’t waste time! Our writers will create an original "Sake Restaurant" essay for you Create order In the report, the chosen restaurant is sake restaurant in Australia which is the most dynamic sushi restaurant which is able to provide the best of the wines distributed in Australia and wines that are able to attract many in different ways and classic ones which are able to be used in parties and conferences( Vilanova, el at,2016).The main aim of the report is to be able to examine different types of wines, their cost and more also to help many customers who need to have an experience they will life to remember. Introduction Wines can be defined as the inflamed liquor of grapes, water and sugar made of many different diversities such as the red, white, sweet and sparkling being used as a drink .it is usually used has a beverage, for cooking and in religious rites such in Christian communion services usually contains content of about 14 percent   or less of alcohol. Usually appears in a dark reddish color as that of the red wines (Christ, 2014). Sake restaurant in Australia Sake brewery and restaurant is located at Obuse Machi near Nagano city. Sake restaurant and bar is the Australia’s most vigorous and modern-day restaurant serving the most best and most advanced and standard Japanese foods.it is the leading restaurant in dining hospitality and more also best entertainment restaurant in japan.it is a restaurant among the best restaurants found in Japanese for it dishes it provides and more also for it provision of different wines and classic ones. Sake restaurant and bar has executive chefs who always bring the innovative and dynamic values of the Japanese through their delicious conceptions. In Australia, many varieties of wines are found such as the red wine varieties, white wine varieties, rose wine varieties, fortified/ desert wine varieties and the sparkling wine varieties ( Martin, Watling, Lee,2012). For the wines found in sake restaurant, they come in array of different beautiful shapes, size and more also in different colors. They also come in small size bottles always perfect for two to the large bottles perfect for parties. Many of the wines are usually decollated with eye-catching art work and more also always make wonderful and nice gifts ( Wang,el at 2016) Beverages list Dessert wines can be said to be more sweater and are usually taken after a meal and it is usually added some alcohol in order to retain its natural sugars which are usually used through the process of fermentation of the wine. Sparkling wine can be said to be having a significant carbohydrates in it which takes place during fermentation process. Makes it to be sweater and dry. Sparkling wines is said to be made from a wide range of the white and red grapes which give the color and its sweetness. White wines can be said to be wine that is usually produced by alcoholic fermentation process of the non-coloured pulp of grapes which always has have different colour. Red wine can be defined has a wine which is primarily red color conveyed during fermentation process and bring the natural colour seen in the skin of the grapes. Conclusion In conclusion, we can conclude by saying that sake restaurant is a restaurant that can produce the variety of different wines and more also can pair various types of wine and food for customers. Is also a restaurant that can give classic wines and different qualities and of the different types and cash that one can afford (Wang, el at, 2016).

Analysis of Organizational Success, Failures, Communication Policies, and and Application of Theories of Alcan Organization Free Essay Example, 2000 words

While referring to the group that dealt with financial and other, the writer said that the group failed to show any sign of coordinated leadership for the corporate, financial application and hence there lacked overall architecture for those designs. This was because the competencies for the group were not aligned with projects in progress. This, therefore, necessitated the outsourcing of experts. It is also said that prior to the arrival of the new chief IT officer, the Alcan organization had about 900 workers working in the IT. However, about 80% of the annual budget was spent on outside services including outsourcing and consulting (Dube, Bernier, Roy, 2009). Therefore, building a solid, competent team can forester organizational improvement and positively leverage the future of the Organization. Additionally, the writer holds the opinion that it is necessary to build cohesion, develop a common vision with the aim of finding effective ways of working together as a team (Dube, Be rnier, Roy, 2009). Group coordination is thus seen as a tool that would ensure group coordination, and it is a way through which the Alcan Organization would realize its future prospects. We will write a custom essay sample on Analysis of Organizational Success, Failures, Communication Policies, and and Application of Theories of Alcan Organization or any topic specifically for you Only $17.96 $11.86/page

Essay On Community Service Hours - 1557 Words

Should high school students have to complete community service hours to graduate? Goal or Thesis 2007, WA high schools to make community service compulsory The Western Australian Government is introducing a compulsory program which will force all high school students to complete community service work in order to graduate. The program will require students in years 10, 11 and 12 to do at least 20 hours of community service. Partnerships between schools and community service organisations will be central to the success of this program. Community service provides opportunities for young people to develop the values, skills and understandings needed to contribute to civic wellbeing. It will enable students to address many general†¦show more content†¦Activities that benefit the school environment or other students such as an art project, tree planting, recycling, gardening and other maintenance activities; or filling a support role at a school sporting, cultural or fundraising event. Activities undertaken following skills development or leadership programs such as peer mentoring or first aid duty in a school playground at recess or lunchtime. Activities that benefit the community such as helping to mind lost children at the Royal Show or manning a drinks station for a charity fun run. Work for non-profit organisations in areas such as aged-care, animal welfare, childcare, culture, education, health, disability services, refugee support or environmental sustainability. Participation in citizenship or leadership service activities such as youth advisory councils or youth parliament or ANZAC Day services. Home-based service given by young carers who have significant responsibility for aged, young, disabled or ill family members. 1-2 What does not count as community service Social and personal development activities that involve learning new skills or practising and/or developing existing skills through membership of a sporting, cultural or other kind of club or organisation such as playing in a band, singing in a choir, belonging to a football, drama, surf or judoShow MoreRelatedSelf Reflection Paper896 Words   |  4 Pageshardworking individual because of my work to become an Eagle scout, in the classroom, all the while working a thirty plus hour work week. Becoming an Eagle scout is a difficult process, involving hours of community service, work on various achievements and badges along with a final community project elapsing forty hours of work. Taking fifteen credits along with working thirty hours a week takes a lot of work and efficiency for almost anybody. 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Culinary Arts Internship Report Essay Example For Students

Culinary Arts Internship Report Essay Easting Hotel Penman features 328 meticulously decorated guestrooms and equipped With modern amenities for the comfort and convenience of the discerning business and leisure traveler. Choose from a variety of room types: Deluxe, Club Deluxe, Easting Deluxe, and Family Suite, facing the verdant green hills or the shimmering blue sea and Pula Jerk, home to tropical rainforests thats over 130 million years old or looking out onto an elegant landscaped gardens. After a busy day, you can relax by taking a dip in our sparkling clear pool, work- UT in the fully equipped gym, soothe your mind, body and soul at the spa or drop by Queensland Mall for a shopping spree, Guests who need to he constantly in touch can also log on to our complimentary internet at anytime tooth day or just lie down on the plush bed to enjoy your favorite programmer from our satellite television channels. The warm hospitality, impeccable service and care, is a rich tradition practiced at all levels of our staff to ensure your stay is a pleasant one Whether for business or leisure, Easting Hotel Penman is here to provide you a memorable experience o will treasure. All-day dining at Easting Hotel Penman is a culinary treat for even the most discerning palate, with its sumptuous buffet spread of international and local dishes. Alternatively, select from our carefully crafted Ia carte menu. For lighter moments, the Lobby Lounge is a networking retreat serving up a delicious assortment Of cakes, pastries, healthy juices and Other thirst quenching drinks. Cold Kitchen Cold kitchen is responsible for dishes that are served cold for the buffet services. As assigned to the day shift at cold kitchen for the first two week. Poor breakfast service, cold kitchen is responsible for the following: Fresh vegetable salad: consists Of S types Of greens, 4 types Of condiments (croutons, raisins, bacon shred, Parmesan shred), 5 types of dressings (Caesar, Thousand Island, Orange yogurt, Japanese Sesame Soy Sauce, Balsamic Oil) and 3 types Of pickles (caper, olive, pearl onion)Cold platter: Assorted cheese platter, assorted cold cuts (salami, pepperoni sausage, smoked ham)6 Assorted Fruits (watermelon, moneyed, orange etc)Dairy products: milk, soybean, yogurt, yogurt drinks. For lunch service, cold kitchen is responsible for the following: Fresh vegetable salad (same as breakfast service)Poached Seafood with Condiments: shrimp, scallops, mussel, squid. Amuse-Boucher: Smoked Salmon, Wine Chicken, Escargot etc Japanese Sobs Noodle: Sobs noodle, sesame soy sauce, condiments Assorted Fruits Normal operation of Cold Kitchen requires 3 morning shift crew and 2 evening shift crew, Besides from refilling buffet products provided at dining mom, the morning crew is responsible to restock ingredients to be stored at station from the commissary kitchen, The crew also needs to prepare sufficient supply for the next service. Cheat De Partier will assign daily to-do task accordingly. Feedback about Cold Kitchen The cold kitchen does not involve too much heat in preparing food, realizing me that heat is not necessity to prepare meals. 2 months in cold kitchen thought me the important of sanitation to prepare unheated food. Efficiency is important when it comes to mass production.

National Honor Society - Vice President Speech Essays -

National Honor Society - Vice President Speech I would like to be the Vice-President of the Huntington High School National Honor Society. The main reason I chose to run for Vice-President instead of running for President is because I have several extracurricular activities that would prevent me from giving my undivided attention to National Honor Society. I know that I can have a positive impact on the National Honor Society. Unlike most people, I do not join a club or organization just to say I am a member of that group. I join clubs I know I can make a difference in. I love to be able to have input and share my ideas. I am proud to be a part of a prestigious organization such as National Honor Society. I know that I will be a great assett to the National Honor Society of Huntington. Because I am involved in so many other clubs, I can get along well with others. I also have numerous fundraiser ideas. In my past experiences, I have found that the most successful fundraisers are those that are directed towards adults. For example, a chicken charbroil on a Saturday afternoon is always very profitable. We can pre-sale tickets to businesses, especially car dealerships who cater food to their employees on Saturdays. Usually, people will donate the paper goods and chips. Charbroils are very good fundraisers to do. Parents always volunteer to cook the chickens and help to organize things, at least mine do anyway. If we wanted to do an in school fundraiser, the best thing to do is sell candy. Students will buy candy as if it were going out of style. As long as we get permission from Mr. Dilworth, selling candy would be a great idea. These are just a couple of ideas I have for raising money. As far as ideas for activities for the club, I think it would be beneficial for an admissions counselor from a college to come and speak. That way, we could get some pointers on how to prepare for college. We could also tutor students that needed a little extra help after school. There are just so many things that the National Honor Society could do. I think I would make an excellent Vice-President because I like to accomplish things. I have numerous ideas that can make our club better than it has ever been. I would like to be able to put these and many more ideas into effect. I hope that you will consider me for the position of Vice-President of the National Honor Society, Thank you.