Terrorism and Nations Security Concerns Assignment - 207

Terrorism and Nations Security Concerns - Assignment Example Summary - According to Jerrold M. Post, religious terrorism has taken center stage in the 21st century with extremist terrorist organizations such as Aum Shinrikyo and al-Qaeda making headlines. Religious terrorism is an extremist ideology where the terror groups hide under the guise of religious factions, especially Islam, to instill fear in innocent civilians through violence. Such terrorists spread their propaganda based on radical religious ideologies. Hezbollah has been running an anti-Israel sentiment for quite a long time and the terrorist organization has thrived because of strong support from the Iranian government. The terrorist organization has extensively used the media to run its campaign. 1 As an Islamic resistant movement, the Hamas has terrorized the Middle East, particularly Palestine, under the leadership of Sheik Ahman Yassin. Although many negotiations have taken place between Hamas and the Palestinian government, the terrorist organization has stuck to its ideolo gy has rarely had it renounced the absolutist ambitions that it undertakes through suicide bombings.2 In a bid to unearth the inner workings of terrorist organizations, Bruce Hoffman assessed the Middle East terrorism and made a number of astonishing findings. By the year 2005, various terrorist groups, with al-Qaeda taking the lead, had struck in 25 countries, including Israel, Kenya, and the United Kingdom. The number of suicide terrorist attacks stood at 350 by the same years. The Liberation Tigers of Tamil Eelam (LTTE) has seized most of Sri Lankan provinces while al-Qaeda continued to terrorize the Middle East and beyond. Terrorism has evolved over the years to the use of suicide bombers, who have been heavily radicalized into believing that through self-sacrifice they receive greater heavenly rewards and in the process, liberate their victims.  

Strategic Management and Leadership Assignment Example | Topics and Well Written Essays - 3000 words - 1

Strategic Management and Leadership - Assignment Example The feature of effective leadership identifies a person who thinks and acts differently from the rest in achieving a desired purpose. This defines that a leader must be bold enough to face oppositions and undue criticisms for his different approach. A person earns the recognition of effective leadership if he or she endeavors to gauge a situation by standing on the toes of others. The effective leader must also take care of the subordinates through acts of motivation and by extending needed help in times of organizational crisis. Existing in the changing environment entails a leader to be flexible enough to help the organization achieve future goals and set purposes. A manager turns out to be an effective leader in being an adaptor to the changing environment. Further, the manager decides on the planned course of action and directs the subordinates to walk on the treaded path to achieve the desired goal. The manager also endeavors to empathize through the acts of liaison between the upper and the lower levels. Moreover, an effective manager must take active role in motivating the subordinates through effective training and creating a positive environment for others to perform effectively. The function of effective management also entails that the working conditions must be made favorable and safer to help the employees succeed in their work. (Caroselli, 2000, pp. 1, 2, 4-5, 6, 8-9) The leaders of the modern era must prove themselves as effective managers to sustain in a competitive environment. An effective leader in the context of the modern era is observed to be a person who endeavors to execute tasks through the delegation of responsibilities. Effective leadership entails in carving the organizational process and structure in such a manner that can help the staffs to become self-dependent in meeting desired goals. A person to become an effective leader must look forward to acquire

The Socrates' Philosophy Research Paper Example | Topics and Well Written Essays - 2500 words

The Socrates' Philosophy - Research Paper Example His character resembles that of a normal human person living in ancient Greece. Young and fiery Euthyphro believes in leading his life according to his own ideas. He is so blinded by his own principles that he fails to see the folly that he commits in persecuting his own father of murder. However, Euthyphro's character resembles ancient people of those days. Most of them were honorable men who believed in leading a life of high principles. I have found Euthyphro to be like a real-life person. There is a section of the population who are so steadfast in their own thinking that they often fail to realize the mistakes that they commit by acting according to their own ideas. Of course, in the end, Euthyphro is enlightened by Socrates and retrieved to the right path of thinking.Glaucon is also portrayed as a strong character. He does not hesitate to engage in conversations with the great Socrates about serious issues like the desirable and just actions of men and about the code of conduct of humans. He discusses the grave issue of â€Å"human life and its end† with his partner. Glaucon possesses his own ideas regarding the issues and argues with Socrates courageously putting forward his own ideas with great zeal. He sounds futuristic when he advocates that the young generation should be told of the actions of their predecessors to make them aware of the truths of life. Glaucon says the youth must know of the good as well the mistakes of their fathers and forefathers to form their own ideas about civilization. However, Plato as an author fails to impress. The conversations are described at length and style of narration is quite complicated. It takes the reader a considerable amount of time to grasp the meaning of their words. Perhaps, this is not the author’s fault and people in ancient Greece were used to conversing in this way. Plato has used simple English language to convey the thought of his speakers, but their ideas are repeated and re-repeated so that instead of giving a clear idea, they have created confusion in the reader’s mind. The philosophies of the speakers could have been expressed in a more straightforward and direct manner.

Overview Of The Economic Growth Of Poland Economics Essay

Overview Of The Economic Growth Of Poland Economics Essay Polands economy looked bleak during the 1980s. Few would consider Poland as a business hub due to its low economic growth and soaring inflation rate (Nuti, 1986). Fast-forward to the 21st century, Polands economy has changed tremendously. It is not just the only European country to survive the current recession but it is still experiencing rapid growth  [1]  . What could have possibly instigated Polands this drastic change in the time span of only 2 decades? This essay will use the PESTLE  [2]  analysis to understand the positive force that initiated the economic growth and also examine the causes that might hinder Polands future economic growth. Porters Diamond will be used for the critical evaluation and support of the PESTLE analysis. Political Reform The fall of communism in 1989 had led to vast improvements in Polands economy. One might disagree with that because the event took place over 20 years ago, however, the effect of political change does not happen overnight and there would be a time lag involved (Gillespie, 1999). The most significant change after the fall of communism is in stabilising the country. Poland is the 29th politically most stable country with the index score of 4.5 (Economic Intelligence Unit, 2009). This provides a sense of security for investment and business, for example, if Poland is in an unstable situation akin to the current Libyan crisis, people would avoid investing in the country. In contrast to a communist state, a democratic country allows the voice of people to be heard, and their opinions and views to be realised. Citizens in democratic countries tend to have greater respect for the leaders they chose for themselves compared to otherwise. For example, in a company, a bottom-up leadership has a better effect than a top-down leadership because workers would respect the leader and this allows employees to bring out best of their skill set and experience. Similar principle applies for macroeconomic levels. Additionally, a democratic country is highly likely to prosper due to reduced frictional social interactions among citizens (Kariel, 1956). Furthermore, the Polish government has developed a radical program known as the Shock Therapy to curb hyper inflation. Poland was once ruled under a planned economy system. Shock Therapy is a transition from a planned economy system to market economy. It is a sudden release of price, followed by the removal of subsidies and large scale privatisations of previously publicly owned companies (Murell, 1993). This program has both short and long term effects. The planned economy provided employment to almost every citizen but with inflation rates of around 600% (Cottarelli Szapà ¡ry, 1998), low wages and severe shortages of basic necessities. This Shock Therapy suppressed the hyperinflation and stopped the food shortage (Haggard Webb, 1996). However, all these problems are only short term problems. The ideal result lies in the long term measure. One of the key reasons of why Poland economy growth has been so steady in the past few years was because of its market economy (Kornai, 2000). This has provided opportunities for small service firms to contribute to Polands economy (Nunnally, 2010), which was unachievable during the communist era. Market economies encourage international business because the barriers to entry are lowered increasing the opportunity for success and lowering sunk costs. Poland also has excellent relations with foreign countries allowing it to benefit from several advantages such as enjoying tax free zones within the EU since joining it in May 2004 (Papazoglou, Pentecost, Marques, 2006). This is important because imported goods within Europe are cheaper, hence lowering production costs. Another vital factor of entering the EU is curbing the high unemployment rate. Since adopting the free market policy, Poland has high unemployment rates  [3]  . By joining the EU, Polands unemployed workforce is able to look for jobs outside Poland. Lowering unemployment rates is crucial in reducing social problems and creating a better environment for investors. Economic Advantages In addition to political factors, economic factors have also enhanced economic growth. The first step was implementing a floating exchange to curb hyperinflation (Sachs, 1996) which, in addition, helped Poland to survive the current economic crisis by facilitating economic adjustments. During the economic crisis, the Zloty depreciated against the Euro and Sterling. This meant Polish goods were more competitive than European goods both at home and abroad. One might think that there are so many countries with lower exchange rates, so why would investors invest in Poland? The answer lies in the nature of its currency- Zloty is very stable as a currency  [4]  , it only oscillates within a certain range. This is very important for a business because cost of production would not fluctuate and there would be less uncertainty. Investors tend to avoid the risks arising from uncertainty and the Zloty provides a sense of security to businessmen and investors. In planning to adopt the euro i n 2015 (Dnevnik.bg, 2010), Poland will be forgoing the competitive advantage of its currency. To evaluate, this is a good option as the global economy grows as the Euro will provide more advantages (Gulde, Kahkonen, Keller, 2000). Many things have changed since the transitional period of Poland. Polish people have become richer over the years and Poland is one of the richest nations, second only to the Czechs in the Central Europe (Credit Suisse, 2010). Also, an average Polish is three times richer than an average Russian (Jedrzej, 2010). Their wealth leads to strong domestic consumption within Poland  [5]  which led to strong economic growth especially during the recession. Export based countries, such as Singapore, suffered greatly during the recession. The impact of the recession is less in the case of Poland because the domestic market within Poland is large and accounts for more than half of Polands market. Although it is hard to believe, the initial high unemployment rate also boosted economic growth. Polish people are highly educated with 99% of their citizens being educated (TradingEconomics, 2009). Skilled and educated workers tend to be more expensive. However, due to the high unemployment rates, labour costs in Poland are comparatively lower than other countries, such as Germany. This is a strong selling point for investors abroad. These investments are crucial because it has reduced unemployment rates and increased economic activity in Poland, subsequently enhancing economic growth. FDI has increased steadily since 1995 with the exception of 2008 and 2009 due to global economic crisis (United Nation Conference of Trade and Development, 2010). It has boosted economic activities greatly. Other than a cheap but skilled labour force, Special Economic Zones established by the Polish government has also attracted foreign investors. At present, there are 14 Special Economic Zone in Poland (KPMG, 2009). Different areas have different geographical landscapes allowing wide-ranges of businesses to be set up. These areas provide opportunities for tax exemption. The amount of tax exempted will depend on the size of the investment (Nam, 2004). The Special Economic Zones have attracted investors from all over the world, in particular investors from the EU as the benefits are greatly to their advantage to invest. The regulations are more flexible and they share the same benefits as Polish firms. These, combined with the stability exchange rate of Zloty, have attracted FDI from the EU as all investors stand an equal chance. Porters Factor Conditions Although Poland has enjoyed steady economic growth in recent years, there are still a few factors hindering their growth, for example, having poor transportation systems. Having good infrastructures enables a country to fully utilise their resources efficiently and effectively boosting the economy. Therefore for Poland to improve on their economic growth, they must improve on their infrastructure. In my opinion, the infrastructure would not be a concern because Euro 2012 will be held by Poland and funds had been provided by the EU as an aid to improve on their infrastructure (Szafranko, 2010). Evaluation As previously mentioned, political stability is key to economic growth but there are factors that unsettle Polands stability such as corruption  [6]  . This is a significant disadvantage, for instant, if the government invested in a  £10million project but due to corruption, only  £2 million is injected, the project would either be substandard or incomplete due to the amount of money lost. Furthermore, safety will also be a key concern due to the substandard undertakings. With this kind of uncertainties, investors will have their doubts when investing in the country. However, Poland has taken several measures to reduce corruption, and with more effort, corruption can be reduced. Besides that, the countrys high unemployment rate can also be a concern for the country  [7]  . While it is true that the high unemployment rate saved Poland during the recession, it cannot be a long term plan for the country. A high rate of unemployment would cause stress within the country and crime rate would increase causing instability. Furthermore, it would also prevent the country for optimising their resources. Despite the current high unemployment, recent reports show that the unemployment rate is steadily decreasing over the years  [8]  . Conclusion In conclusion, there are many factors driving Polands economic growth such as political stability and stable exchange rates. Polands external competitiveness has been tested by the rise of the BRIC, notably China. There are numerous reasons why Poland has been able to attract large volumes of FDI, one of which is the Special Economic Zones with tax exemptions lowering business costs. Sound macroeconomic policies have sharpened Polands competitive edge and positioned it well to seize opportunities from joining the EU, therefore attracting more FDI leading to further growth. The main difficulty Poland now faces is corruptions. However, the extent to which this has affected Polands economic growth is hard to determine but the pull factors of economic growth outweighs this problem. There is also room for supplementary improvement to further boost the economy especially the developments of infrastructures. Nonetheless, the growth for Poland is sure to progress with the adoption of Euro an d Euro 2012. Critical Reflection The PESTLE analysis allows clear insight of the country in the macroeconomic level. The political and economic aspects of the PESTLE provide a clear framework on how it affects the economical growth and the extent of the influence. However, the usage of PESTLE is limited to the present and does not give a wider picture of the future such as Poland is planning to adopt Euro in 2015. Under some circumstances, analysing the PESTLE is insufficient in certain aspects such as the infrastructure in Poland. Nevertheless, the Porters Diamond Factor Conditions are used to complement the weaknesses of this issue. However, both models fail to address one major factor, the regulatory factor given in the STEER  [9]  analysis which is important given the recent financial crisis. Furthermore, in my opinion, safety of a country is important as well. Safety is indispensable because it provides certainty for foreign investors. Although the PESTLE analysis is widely used and it provides information on various factors, I think a new model that incorporates more factors should be introduced. There are many factors driving Polands economic growth, however, the level of contribution of each factor is uncertain. One might wonder how Hungary suffered from a different fate from Poland despite both having floating exchange rates. In my opinion, it is not just the floating exchange, but the different factors that complement each other that exist only within Poland to have boosted Polands economic growth. Lastly, research was made based on recent statistics for data accuracy. However, sources from research using resources that date back to 20 years were also used. The results are important because this data provides an insight to the initiation of Polands economic growth after the downfall of communism. Some resources are subject to biased views, making it impossible to obtain a perfectly accurate reasoning. Mixed responses can be seen regarding the countrys progress. According to local Polish people in the university, it is said that Polands economy is not very promising. However, according to other reports, the results say otherwise. In my opinion, Polands progress is very promising but the government should provide more social benefits to the local Polish to prevent outward migration which may lead to brain drain. Bibliography Business Monitor International. (2011). Poland Infrastrucuture Report Q1. Warsaw: Business Monitor International. Cottarelli, C., Szapà ¡ry, G. (1998). Moderate inflation: the experience of transition economies. Hungary: International Monetary Fund. Credit Suisse. (2010). Poles getting rich quickà ¢Ã¢â€š ¬Ã‚ ¦. Warsaw: Global Wealth Report. Dnevnik.bg. (2010). Bulgaria, Romania, Poland, Czech Republic to adopt euro in 2015 analysts. Sofiaecho , 50. E, P. M. (1990). The Competitve Advantage of Nations. Harvard Business Review , 73-93. Economic Intelligence Unit. (19 March, 2009). Viewsfire. Retrieved 2011 April, 4, from Viewsfire: http://viewswire.eiu.com/site_info.asp?info_name=social_unrest_tablepage=noadsrf=0 Eurostat. (6 April, 2011). Poland Unemployment Rate. Retrieved 7 April, 2011, from Eurostat: http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=132.STS.M.PL.S.UNEH.RTT000.4.000 Eurostat. (6 April, 2011). Real GDP Growth Rate. Retrieved 7 Aptril, 2011, from Eurostat: http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=tableinit=1plugin=1language=enpcode=tsieb020 Gillespie, P. (1999). Too early to say if 1989 was a liberation or a revolution. World News , 16. Gulde, A.-M., Kahkonen, J., Keller, P. (2000). Pros and cons of currency board arrangements in the lead-up to EU accession and participation in the Euro zone. International Economic Review , 173. Haggard, S., Webb, S. B. (1996). Voting for reform: democracy, political liberalization, and economic adjustment. New York: Oxford University Press. Jedrzej, B. (13 October, 2010). Poles are at the forefront of nations increasingly rich. Retrieved 7 April, 2011, from Gelda Waluty Finanse, FT: http://forsal.pl/artykuly/458053,polacy_sa_w_swiatowej_czolowce_bogacacych_sie_narodow.html Kariel, H. S. (1956). Democracy Unlimited: Lewins Field Theory. The American Journal of Sociology , 280-289. Kornai, J. (2000). Ten Years After The Road to a Free Economy: The Authors Self-Evaluation . SSRN , 29. KPMG. (2009). A Special Economic Zone in Poland. Warsaw: Invest in Poland. Laposte. (4 January, 2010). Polands Consumptio. Retrieved 7 April, 2011, from Laposte. McKEEVER INSTITUTE of ECONOMIC POLICY ANALYSIS. (December, 2004). POLAND: Economic Policy Analysis. Retrieved 7 April, 2011, from McKEEVER INSTITUTE of ECONOMIC POLICY ANALYSIS: http://www.mkeever.com/poland.html Murell, P. (1993). What is shock therapy? What did it do in Poland and Russia? Post-Soviet Affairs , 111-137. Nam, C. W. (2004). Types of Tax Concessions for Attracting Foreign Direct Investment in Free Economic Zones. Munich: Center for Economic Studies and Ifo Institute for Economic Research. National Bank of Poland. (7 April, 2011). Exchange Rate Archive. Retrieved 7 April, 2011, from National Bank of Poland: http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=tableinit=1plugin=1language=enpcode=tsieb020 Nunnally, S. (2010). Economic Growth And Low Labor Costs Make For Attractive Investments. Articlesnatch , 1. Nuti. (1986). Hidden and Repressed Inflation in Soviet Economies:Definition, Measurements and Stabilisation . Contributions to Political Econo , 37-82. Papazoglou, C., Pentecost, E. J., Marques, H. (2006). A Gravity Model Forecast of the Potential Trade Effects of EU Enlargement: Lessons from 2004 and Path-dependency in Integration. The World Economy , 1077-1089. Sachs, J. D. (1996). Economic transition and the exchange-rate regime. The American Economic Review , 147. Szafranko, E. (2010). Evaluation of a Possible Development of the Transportation Network in Poland Supported by the EU Funds. Olsztyn Economic Journal , 357-379. TradingEconomics. (2009). Literacy rate; youth total (% of people ages 15-24) in Poland. Retrieved 7 April, 2011, from Trading Economics: http://www.tradingeconomics.com/poland/literacy-rate-youth-total-percent-of-people-ages-15-24-wb-data.html United Nation Conference of Trade and Development. (22 July , 2010). World Investment Report 2010. Retrieved 7 April, 2011, from Invest in Poland: http://www.paiz.gov.pl/files/?id_plik=13224 Appendix Appendix 1 Polands economic growth has been steady with the exception of the economic crisis in 2008. Source: Adapted from (Eurostat, 2011) Appendix 2 PESTLE Analysis In this essay, I utilised the Political and Economical factors in the PESTLE analysis. The PESTLE analysis provided me a clear framework to facilitate my research on the essay. Appendix 3 Polands have high unemployment rate. However, over the last few years, unemployment has been decreasing steadily. C:UsersNicoDesktopunemplo.png Source: Adapted from (Eurostat, 2011) Appendix 4 The Polish currency, Zlotych had depreciates against the Euro from 2008 to 2009 which caused the Polish currency to be more competitive in the market. Low currency value reduces the cost of borrowing hence it attracts investors to invest more in the country. Furthermore, the exchange rate is very stable, making it a reliable currency. Source: Adapted from (National Bank of Poland, 2011) Appendix 5 Polands domestic consumption is much bigger than the export. The high domestic consumption is one of the reasons that allowed Poland to enjoy a positive GDP despite the current economic crisis. Source: Adapted from (Laposte, 2010) Appendix 6 Polands is generally stable politically with the exception of corruptions. Source: Adapted from (McKEEVER INSTITUTE of ECONOMIC POLICY ANALYSIS, 2004) Appendix 7 Porters Diamond Factors Condition The Porters Diamond factors condition analyses nations position in factors of production (E, 1990). From there, the key opportunity and threats can be highlighted clearly. In this case, the infrastructure is examined because it is the weak link in Polands economic growth. However, Poland infrastructure has been growing steadily (Business Monitor International, 2011). Appendix 8 STEER Analysis The STEER analysis is the updated version of the PESTLE framework. The main factor that differentiates STEER from PESTLE is the regulatory factor.

Adult Illiteracy :: Adult Illiteracy Essays

"Learning to read is like learning to drive a car. You take lessons and learn the mechanics and the rules of the road. After a few weeks you have learned how to drive, how to stop, how to shift gears, how to park, and how to signal. You have also learned to stop at a red light and understand road signs. When you are ready, you take a road test, and if you pass, you can drive. Phonics-first works the same way. The child learns the mechanics of reading, and when he's through, he can read. Look and say works differently. The child is taught to read before he has learned the mechanics — the sounds of the letters. It is like learning to drive by starting your car and driving ahead. . .And the mechanics of driving? You would pick those up as you go along." —Rudolf Flesch, "Why Johnny Still Can't Read," 1981 Illiteracy in America is still growing at an alarming rate and that fact has not changed much since Rudolf Flesch wrote his best-selling expose of reading instruction in 1955. Illiteracy continues to be a critical problem, demanding enormous resources from local, state, and federal taxes, while arguments about how to teach children to read continue to rage within the education research community, on Capitol Hill, in business, and in the classroom. The International Reading Association estimates that more than one thousand research papers are prepared each year on the subject of literacy, and that is very likely a low figure. For the past 50 years, America's classrooms have been used by psychologists, sociologists, educationists, and politicians as a giant laboratory for unproven, untried theories of learning, resulting in a near collapse of public education. It is time we begin to move away from "what's new" and move toward "what works." The grim statistics According to the National Adult Literacy Survey, 42 million adult Americans can't read; 50 million can recognize so few printed words they are limited to a 4th or 5th grade reading level; one out of every four teenagers drops out of high school, and of those who graduate, one out of every four has the equivalent or less of an eighth grade education. According to current estimates, the number of functionally illiterate adults is increasing by approximately two and one quarter million persons each year. This number includes nearly 1 million young people who drop out of school before graduation, 400,000 legal immigrants, 100,000 refugees, and 800,000 illegal

Assassination of John F. Kennedy Essay

On the day of November 24, 1963, Americans were all shocked by the sudden death of the 35th President of the United States of America. During that day, the itinerary of the president was to join the motorcade from the Dallas airport to the city business district. While the President and the First Lady were aboard an open vehicle along with other political dignitaries in Dallas, Texas, a gunshot was fired as the presidential party approached the Dealey Plaza. Unfortunately, it was Kennedy who was the target and was hit on the head and on his back. The only other causality during that event was John Connally, the Texas Governor who was also shot on the back. Though Jackie Kennedy, the First Lady, was seated near the President in the car, she was left unharmed (BBC, 2008). Many civilians have witnessed this incident because it happened in a public place and it was televised at the local TV networks. Because of these circumstances, many claimed that they have seen where the gunman took his shot. According to Bob Jackson, a photographer from Dallas Times Herald who was then covering the event and situated near the presidential car, â€Å"As I looked up I saw a rifle being pulled back from a window – it might have been resting on the windowsill – I didn’t see a man. † Also, others said that the shots came from the â€Å"window of a building overlooking the road† where Kennedy was shot (BBC, 2008). After the shooting incident, the president was right away brought to the Parklands hospital. But after 35 minutes, Kennedy was pronounced dead. As the protocol, Lyndon John, vice-president, who was next in line was immediately â€Å"sworn in as the new US leader. † This tragedy caught America by surprise that have left them mourning the unexpected death and the brief term in office of President John F. Kennedy (BBC, 2008).

Customers bank Essay

For Businesses to survive they need to rely on customers buying their goods or services sales can also come from other businesses or members of the public. 1) Goods are what are sold to the customer . For example businesses like wholesalers and retailers sell goods. Goods are tangible things, they are used up. Goods are made up of materials like woods, food and cotton. 2) Services Services are sold also but are not tangible, you can’t see them. A service is a skill which is provided in order to help the customer or business. Services include National Health, Banking, Teaching and the police. 3) Business to business Businesses can offer their goods and service to other business. For example an airline company will purchase the services of a catering company. They do this so they don’t waste time making their own food. 4) Business to customer Business also sell goods and services to customers or individuals. For example banks offer their financial services to individuals who need loans or advice. Sales Documents 1) Order received ( see example 5) This document is produced by the supplier and is sent to the customer. This is used to conform with the customer what they have ordered. Details like the product description and how many they require are written down. 2) Sales Invoice (see Example 6) This document is sent to the customer to tell them how much they owe. Its similar to the purchase invoice and includes things like VAT and discounts. Also it includes the description of the product. The sales invoice is different because its’s only issued when a good has been delivered and has not paid for unless the customer has paid immediately. Delivery Note (see Example 7) A delivery note is given to the customer when the goods are delivered. The documents tells you what has been delivered and how many has been delivered. Also on it is the customers address so its similar to the goods received note. This document is a security measure so the right goods end up in the right place. The delivery note is given to the driver of the truck who deliver the goods and is then passed on to the customer. Sales Credit Note (see Example 8) This document is used by the customer in the event of an error in the supplied goods. For example if you bought a pair of shoes returned home and found a tear in them you can ask for a refund or accept a sales Credit Note. This would allow you to return to the shop in the future and exchange the note for a good or goods of the same value. The credit note is issued by the supplier and is sent to the customer. Statement of Account ( see Example 9) A statement of account is sent by a supplier to a customer. It states all transactions made in the month by the customer, any money outstanding, the total amount of money due on each invoice and the total balance which has to be paid. Remittance Advice (see Example 10) A remittance advice slip will often accompany the statement of account form. It is sent with cheque by the customer. This slip helps the supplier accurately process the payment when it is received. The supplier issues the remittance advice slip and the customer makes use of it by matching it with the invoice or statement of account and then sends it back with the cheque or other payment, this makes it easier for the supplier to match up cheque to invoices When you pay for something in cash you need some sort of proof you’re bought it. The proof you need is to collect a receipt. This is needed if you want to make a refund or if you want to exchange your product for something else. The receipt is written proof of your purchase and should include the following:- The date, Receipt number, Name of company, Description of the product, Amount paid (inc. VAT). A copy of the receipt is kept by the payee for their records and to provide evidence of VAT for recording purposes. Cheque (see Example 12) When you pay for something by cheque the cheque the cheque itself is a proof of purchase so a receipt is not needed. The cheque is similar to the receipt and will include the date and the amount. But the cheque also has the name of the person you are paying. The cheque will then be taken by that person to their bank to be cashed. A cheque is a receipt because when you pay by cheque shows up on your bank statement which acts as a receipt. Paying-in slips (see Example 13) Paying-in slips are used to put money into a bank account. This slip has a detachable section which is given with the cash and cheque the bank who place the money into the account. Left over is a section which is stamped to show that the money will be credited to our your account. On the slip is the amount deposited, the date and the name of the bank. Paying in slips vary from bank to bank. Banking statement (see Example 14 ) If you have a bank account you will also have a Bank statements. These are used to tell how much you have in your account, how much money you deposited and how much you have withdrawn and to see how much you invest you have earned It also tells you where and when you took your money out. Bank statements are basically used to keep track of your money. Cash is the most common way to pay. Its comes in two forms, coins and banknotes. In addition to this there are different note and coins which represent different amounts. Banknotes and coins can be copied or forged so it is wise to check the notes are genuine. Credit Card. Credit Card are alternatives to cash or cheques. They can be used at home and abroad wherever they are accepted. Instead of handing over cash or a transaction voucher by the customer. This voucher is then sent to the bank, who then sent the customer a statement saying hour much they owe. The statement usually takes a long time to arrive so the cardholder has time to come up with the money they owe. This is the interest free period, but interest is changed if the account is not cleared in that period. Debit Card A Debit Card is basically a cheque book and cheque card combined. At the point of purchase the money is debited from the customers bank account, after which a transaction voucher has to be signed by the customer so that company knows the right person has used the right card. Also so the company can keep a record of whom has shopped at their establishment. PC5 Importance of security It is very important that financial transactions are recorded clearly and accurately to protect them from theft, fraud and criminal damage . Security checks are there to prevent fraud, theft and to ensure high standards of honesty. By constantly checking records and by special equipment which can detect security checks.