Financial Reporting and Its Analysis

Question: Discuss about the Financial Reporting and Its Analysis. Answer: Introduction To begin the study, two companies have been selected for the purpose of comparison from the industry of supermarket namely Wesfarmers Limited and Woolworths Limited. Wesfarmers Limited - Company Wesfarmers was established in January 1914 as one of the leading cooperatives for farmers in Australia under the chairman ship of Deanne Hammond. The company has diversified lines of business ranging from liquor to chemicals, fertilizers, coal, safety products for the industry, home and office related supplies and thus supermarkets. The company operates its business through the major five major divisions namely Coles, Home betterment and improvement, Stores, supplies for office, industrial products and other related businesses. The first division was formed in the year 2007 on the Coles group acquisition. Cole group has been itself a bunch of divisions which provides different goods or products to the different customers including food, groceries, liquor products and financial services. Second division is home improvement which contains Bunning, as a leading and required retailer in the field of home betterment and other living products and Home base, as second number retailer for home products and garden services in United Kingdom. Third division is department stores containing two major segments Knart and Target and has been formed in the month of February for the year 2016. Fourth division is office works and for which the company has been regarded as leading supplier of office products and services. Fifth division is Industrial which includes chemicals and fertilizers and safety products for industry. The organizational structure of the companies works from Managing Director, Chief executive and finance officer, Director of respective functions like finance, purchase, logistics and sales, etc, company secretary, managers and lower level employees. Woolworths Limited - Another company is Woolworths Limited that has been formed on fifth of December, 1924 in Sydney. On that day the then CEO of company has mentioned that every part of the world shall be Sydney where all the things and products are available to anyone at cheaper price with good quality and since then the company is striving to achieve the same. The main activity of the company is to have supermarket only where all the products are made available for the customers. The company operates the main activities through its three major divisions Food Group, Endeavour Drinks and Portfolio business. Food group again contains six branches Rewards, supermarkets, countdowns, Thomas dux, petrol and financial services. Second group contains four branches Dan Murphys, BWS, Cellarmasters and Langtons and last group contains three branches Big W, Ezi buy and hotels. The organizational structure of the team is vertical form of structure ranges from top level management including Board of Directors and Executive Committees, middle level management including managers and executives and lower level management including supervisor and their subordinates. The company has been achieving growth since the year of its establishment and has become one of the leading companies in supermarket industry in Australia and New Zealand. Both the companies are at equal pace and thus have been selected for comparison. In the forthcoming headings and subheadings, the comparison has been made with regard to their financial statements and the framework within which the financial report has been framed. Identification and Evalution of the Company Financing Sources The financing resources of each of the company will be identified through the financial statements stated in the annual report and will be evaluated through the computation of different financial ratios. First Company Wesfarmers limited Financing Sources - The Company has been financed by equity component as well as debt component. As per Note Number 12 of the Annual Report of the company: Equity - Equity component of the company includes ordinary equity shares that have been issued to the promoters and shareholders of the company and also includes the shares issued under the scheme of Employees stock option plan wherein the shares are issues to the employees of the company as reward for their performance.(Annual Report, 2016.) Debt - The companys debt component includes both the long term debt and short term debt and has been classified as Non Current liabilities and Current Liabilities respectively. Both the heads of debt have classified under the sub heading of Interest bearing loans and borrowings. As per Note number 14 of the annual report, the company has availed short term debt in the form of corporate bonds and other bank loans and has outstanding balance of $1632 million at the year ending 30th of June 2016. Similarly, the company has availed long term debt and have outstanding balance of $5631 million at the year ended on that date.(Annual Report, 2016) Both the facilities availed are unsecured and as per the reported significant items in the annual report, the company has renewed the facilities of $500 million in June 2016 and thus have intermediate debt in its financing sources. Analysis of Capital Structure and Other Ratios Debt to equity ratio has been increased from 0.63 for the year ending 30-06-2015 to 0.78 for the year ending 30-06-2016 which shows that the company has increased its reliance on the banking funds and that too which are unsecured. Simultaneously the equity ratio has been decreased from 0.61 as at 30-06-2015 to 0.56 as at 30-06-2016. As per the norms of practice, acceptable debt equity is 2:1. Therefore, the company is still within the ambit of having the going concern assumption as high debt equity ratio gives an indication that the company will soon go for liquidation. Net profit margin ratio has been gradually decreased from 6.02 to 2.04 which has alarmed the situations of the investors as to whether to invest further in the company or take back the amount invested so far. Current ratio has been intact at 0.93 times which shows that the liquidity of the company is similar to earlier year. Along with this, the net working capital of the company seems better than as generated in the earlier year. Earnings per share have been gradually decreased from 216.1o for the year ending 30th June 2015 to 36.20 for the year ending 30-06-2016. The major shift has been suffered by the investor and the company only due to low profit margins. Along with the earning per share the companys dividend per share has been decreased from 230 to 201.90. Financing Structure and Financial Reporting Framework The reporting of financing structure of the company has been made within the conceptual framework of financial reporting. All the relevant disclosure have been made and that too in accordance with the Australian Accounting standards and International Reporting Financial Standards (AASB,2015). According to the nature of its business the companys financial structure is adequate. Debt equity ratio as per the supermarket industry should be less than or equal to one. As whole business of the company is of wholesale thus the current liabilities and current assets including creditors and debtors and stock respectively comes in equal proportionate as compared to previous year. Second Company Woolworts limited : Financing Sources - The Company has been financed by equity component as well as debt component. As per Note Number 20 of the Annual Report of the company: Equity - Equity component of the company includes ordinary equity shares that have been issued to the promoters and shareholders of the company and also includes the shares issued as a result of share rights and exercised under the scheme of Employees stock option plan wherein the shares are issues to the employees of the company as reward for their performance and also includes the shares issued under the long term incentive plans for the employees.(Annual Report, 2016.) Debt - The companys debt component includes both the long term debt and short term debt and has been classified as Non Current liabilities and Current Liabilities respectively. As per Note number 23 of the annual report, the company has availed short term market loans and revolving credit facility from the bank amounting to $82 million. The short term securities also includes US senior notes and medium term notes. The long term debt includes bank loan in consortium with other banks and also the US senior notes and European Medium term notes. The company has also financed through the issue of debenture namely Woolworths Notes II. (Annual Report, 2016) . Analysis of Capital Structure and Other Ratios Debt to equity ratio has been increased from 1.28 for the year ending 30-06-2015 to 1.68 for the year ending 30-06-2016 which shows that the company has increased its reliance on the banking funds and that too which are unsecured. Simultaneously the equity ratio has been decreased from 0.44 as at 30-06-2015 to 0.37 as at 30-06-2016. Net profit margin ratio has been gradually decreased from 6.02 to 2.75 which has alarmed the situations of the investors as to whether to invest further in the company or take back the amount invested so far. Current ratio has been intact at 0.84 times which shows that the liquidity of the company is similar to earlier year. Along with this, the net working capital of the company seems better than as generated in the earlier year. Earnings per share have been gradually decreased from 170.80 for the year ending 30th June 2015 to (97.70) for the year ending 30-06-2016. The major shift has been suffered by the investor and the company only due to low profit margins. Along with the earning per share the companys dividend per share has been decreased from 122.50 to 93.80. Financing Structure and Financial Reporting Framework The reporting of financing structure of the company has been made within the conceptual framework of financial reporting. All the relevant disclosure have been made and that too in accordance with the Australian Accounting standards and International Reporting Financial Standards (AASB,2015). Analysis and Comparison of Company's Financial Sources Similarities Debt equity ratio of both the companies has been decreased from the year ending 30-06-2015 to 30-06-2016. Debt equity ratio of both the companies has been decreased from the year ending 30-06-2015 to 30-06-2016. Net profit margin has been decreased of both the companies. Both the companies have made the current ratio intact in spite of having gradual decrease in the net profit margin in the current year as compared to the earlier year. Both the companies earning per share and dividend per share has been decreased gradually and for the Woolworths it is in negative figures. Both the companies have followed same set of accounting standards and have disclosed adequately. Diffirences The pace at which the debt equity ratio has been increased in case of Woolworths Limited is higher than that of Wesfarmers Limited. The current and non - current liabilities has been given in detail by the Woolworths Limited than the Wesfarmers Limited. The equity component of the Woolworths Limited is different from Wesfarmers because of inclusion of Right shares. The debt component of the Woolworths Limited is different from Wesfarmers because of the inclusion of debentures. Reason for Similarities and Diffirences The reason for similarity in ratio is that both the company operates in the same industry and has to follow the pre defined financial ratios that is acceptable. Both the companies having similar increasing and decreasing trend in the ratios. It is so because the net profit margins of the both companies have been gradually decreased. Summary and Recommendation Significant Points First of all the main history of the both the companies have been discussed in detail along with the main activities of the companies. Also the products that is being catered to the customers along with different services has been detailed in connection with the various divisions being operated by both the companies. Secondly, financing sources have been discussed with reference to the annual report of the company. Debt and equity component reported in the financial statements have described with the help of capital structure ratios. Thirdly, financial ratios like net profit margin ratio, current ratio, EPS and DPS, etc have been calculated so as to make the comparison easier. Fourthly, the conceptual framework within which the financial statements have been reported is discussed with reference to accounting standard. From the study of this report, our recommendation for the investors is to invest in Wesfarmers Limited instead of Woolworths Limited in order to have high earning on the amount invested. References Woolworths Limited official website available on https://www.woolworthslimited.com.au/page/Invest_In_Us/Reports/Reports/ accessed on 01/02/2017. Wesfarmers Limited official website available on https://www.wesfarmers.com.au/investors/reports-results-presentations.html accessed on 01/02/2017. Brwon C, Dutton M, Rietz T, Financial Statement Analysis, available on https://tippie.uiowa.edu/iem/modules/finstatement.ppt accessed on 01/02/2017. Financial Statement Analysis available on https://www.business-solutions-and-resources.com/financial-statement-analysis.html accessed on 01/02/2017. Anastasia, (2015), Financial Statement Analysis : An Introduction available on https://www.cleverism.com/financial-statement-analysis-introduction/ accessed on 31/01/2017. Bajkowski, (1999), Financial Accounting Ratios: Putting the Numbers to Work, AAII Journal, August 1999 issue, Pages 1-7. Accessed on 31/01/2017 Lan J., (2012), 16 Financial Ratios for Analysing a Companys Strengths and Weaknesses, AAII Journal, September 2012 issue available on https://www.aaii.com/journal/article/16-financial-ratios-for-analyzing-a-companys-strengths-and-weaknesses.touch accessed on 31/01/2017. Alvarez F and Fridson M, (2005), Financial Statement Analysis A Practitioners Guide, available on https://www.up.m-e-c.biz/up/Mohcine/Pictures%20BOOK/Wiley%20Finance,.Financial%20Statement%20Analysis%20-%20A%20Practitioner's%20Guide,%203rd%20Edition.pdf accessed on 31/01/2017. Uzochukwu N, (2012), Analysis and Interpretation of Financial Statements as a Managerial Tool for decision making, accessed on https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=4cad=rjauact=8ved=0ahUKEwiUqvrpj7TMAhWQCY4KHcqMBJ8QFggzMAMurl=http%3A%2F FGL,(2013),Accounting Ratios available on https://frostgroup.co.uk/articles/2013/accounting-ratios accessed on 31/01/2017. Zions Bank Official Website,(2005) How to Analyse your business using Financial Ratios, available on https://www.zionsbank.com/pdfs/biz_resources_book-6.pdf Accessed on 31/01/2017. AASB, (2015), Conceptual Framework for Financial Reporting available on https://www.aasb.gov.au/admin/file/content105/c9/ACCED264_06-15.pdf accessed on 01/02/2017.

Twelfth Night Essays (1166 words) - Poetic Form, Shakespeares Plays

Twelfth Night Twelfth Night by William Shakespeare is a comedy where commoners and royalty speak together frequently, in both prose and blank verse. The usage is not always clear to the modern reader but is easily understood with sufficient knowledge of the literary styles of the period in which Shakespeare lived. This shift from one form of speech to the other gives many things to the audience, allowing them to better perceive and understand the situation and characters that Shakespeare is portraying. The effect of the change is easily felt by the Elizabethan viewers, and can be explained to the modern reader, such that the impact it has on the atmosphere of the play is made adequately apparent. Generally in Elizabethan plays blank verse is used by nobility: such as Dukes, gentlemen, Kings, Queens, and the like. In contrast, prose is used mainly by fools, clowns, and the lower class. These two distinctive ways of portraying dialogue are particular and help to segregate the classes. Blank verse is the manner of writing, in which each line of the play consists of ten syllables, none of which usually rhyme. This is meant to be spoken in a halting and therefore dignified manner, with the speaker stopping at the end of each line; one had to pay attention to what the character was saying and was held in slight suspense waiting for the next line. The broken flow of the sentences portrayed the nobility in a higher light, showing they were not confined to the normal constraints of speech, and had a specific and unique way of talking that set them apart form the rest of the classes. In Twelfth Night all characters with wealth and prestige use this way of speaking: Orsino, the Duke; Se bastian, Viola's brother; Viola, Sebastian's sister; Valentine and Curio, two gentlemen; Olivia, a countess; the Sea Captain; and the Priest, the Lords and Officers. All these characters are people with power and money, something the blank verse becomes synonymous with. To compare, prose?which is the ordinary form of the written or spoken language, according to the Canadian Oxford dictionary?is used by the lower class of people. Another definition given is that prose is the dull or commonplace form of speech or writing. Both definitions show the motivation for this type of writing style to be assigned to the general population. In the play it is used by the characters considered of lesser stature to the others: Antonio; the sea captain, friend to Viola; Malvolio; Fabian and Feste, Olivia's servants; Maria, Olivia's woman; and the sailors, the musicians and attendants. These are all people of service, and lower social standing. Of course, in this play and others, there are exceptions to this rule of speech assignment. The characters Sir Toby Belch and Sir Andrew Aguecheek, though obviously nobility by title, speak in prose as opposed to blank verse as their social class would suggest. Andrew. Ay, ?tis strong, and it does indifferent well in a damned-colored stock. Shall we set about some revels? Toby. What shall we do else? Were we not born under Taurus? Andrew. Taurus? That's sides and heart. Toby. No, sir; it is legs and thighs. Let me see thee caper. Ha, higher; ha, ha, excellent! (Act I, Scene III, lines 131-138) As one can see prose is used to represent their speech. Prose is used to indicate the lower classes, not knights as Sir Toby and Sir Andrew are. The reason Shakespeare uses this form of script is because, though the two characters are nobility, they are portrayed as ?fools.? A fool, in Elizabethan terms, is a comedic character, whose role is to provide comic relief. They are on occasion used in an ironic sense, as in the tragedies, when a horrific or serious event has passed and the fool babbles on in jest, taking away from the dark significance of the event. In Twelfth Night Sir Toby and Sir Andrew are used in a purely comical function. Their banter is amusing and witty, entertaining to the audience and reader alike. Fools were considered lower classes, idiots not to be taken seriously?for just reason?, as their name would suggest. The two characters (Sir Andrew and Sir Toby) being of noble background make their dialogue even more amusing: they

Factors that compelled Tesco to exit the Japanese Market The WritePass Journal

Factors that compelled Tesco to exit the Japanese Marketï » ¿ Executive summary Factors that compelled Tesco to exit the Japanese Marketï » ¿ ). Tesco failed to establish enough scalable business after its 8 years operation in Japan. According to CEO, Philip Clarke, Japanese shopping habits were very different from those envisioned in business strategies and business processes of Tesco. According to Clarke, the British consumers enjoy carrying out a â€Å"big shop† once in a week since there is enough room to keep their shopping. In contrast, for many Japanese, space is premium and carrying out a big shop is not an option. Tesco, like other foreign retail companies, failed to adapt fully to the local shopping habits of the Japanese consumers. Consumers switching from branded luxury products in Tesco stores to more affordable private labels. Despite the demand for staple food and household items remaining flat, some consumers switched from purchasing branded luxury products to private labels that are more affordable. However, the penetration of such private labels products has not been popular compared to branded products because the Japanese consumers are still conscious of the product brand of the item they purchase. A series of food safety scares hit the market. The outbreak of Bovine Spongiform Encephalopathy (BSE) in Japanese cows, use of non-approved additives in packaged foods and product origin being mislabeled eroded consumer confidence and caused a series of food safety scares in the grocery retail market. The British business format of Tesco failed to compete with department and supermarket stores in Japan. The people of Japan put much emphasis on the quality and freshness of food items. They, therefore, prefer to shop many times in a week instead of carrying out a single bulk shopping in a weekly basis. Departmental store food halls began offering high price but high quality foods while low priced standard food products were offered by supermarkets. Although discount stores started increasingly introducing fresh food product to encourage more customer visits, they were considered to be at the lower end of the market along with convenience stores. The small retail channels have increased their market share in recent years because their business format meets the Japanese consumers’ preference for shopping several times each week. They have also widened their range of services such as the provision of added-value services, bill-paying facilities, cash machines and delivery services. The small retail channels business format is in contrast with Tesco business format. As a result, Tesco faced a challenge of penetrating the highly competitive business segment. The Japanese people are highly demanding and fussy consumers who need to be provided with a wide selection of goods and foodstuffs. The Japanese consumers also value freshness of their produce, and they are likely to question of the stock in a hypermarket such as Tesco. Japanese consumers make frequent visits to many different stores per week instead of carrying out a one stop-shop within a single supermarket store. Conclusion In summary, the expansion strategy taken by Tesco into the Japanese market was a well-timed one. However, the Japanese market posed many difficulties which prevented Tesco penetrating the market and achieving profits. Despite that Tesco invested many resources and formulated strategies to gain the Japanese retail market, its failure to establish a business format to suit the Japanese consumers’ lifestyle envisaged its eventual exit. Other foreign retail companies such as Carrefour SA of France had failed to attain profit. Economic factors also led Tesco’s exit as consumers changed preference. The consumer patterns of the Japanese can be difficult to accommodate and formulate a business format to suit their demands and lifestyle. References Humby C, et al. (2008) Scoring Points: How Tesco Continues to Win Customer Loyalty. London: Kogan Page Publishers. Tesco’s internal data, 2009 (www.tesco.com) Williamson C, et al. (2013) Strategic Management and Business Analysis. London: Routledge.

Discussion post Essay Example | Topics and Well Written Essays - 250 words - 8

Discussion post - Essay Example As indicated in the regulations and guidelines issued by the Department of Health, Education and Welfare, the IRB teams should comprise of at least five individuals including a representative of the community. This enables the IRB to review a proposed research on the basis of community, legal and professional acceptability (Codina, 2014). After going through ‘Protecting Human Research Participant’ course, I had an opportunity of discussing with a nurse engaging in research about prevention of ventilator pneumonia in babies in the ICU. From information gathered, the nurse had completed the initial training in research ethics prior to submission of a protocol. She was able to undertake the online training offered by the Collaborative Institutional Training Initiative (CITI), for engaging institutions (Mateo & Foreman, 2013). In my workplace, the IRB comprises of two hospital administrators, clinicians, nurses, a professional in medical ethics, two lay individuals from the community, and a statistical professional. The IRB maintains an equal gender ratio. The IRB acts as a screening centre for issues of conflict of interest in research or institution and is also responsible for monitoring difficulties in the study. The IRB is governed by FDA, and its practices and policies are reviewed periodically for cert ification (Zenios et al.,

Individual Rights Essay Example | Topics and Well Written Essays - 750 words

Individual Rights - Essay Example One of those such rights would be the Miranda rights. In defining them, "Also known as the Miranda Rule or Miranda Warning, when you are arrested in the U.S.A., police officers must warn you that you have the right to remain silent, that anything you say could be used against you in a court of law, that you have a right to contact a lawyer and that if you cannot afford a lawyer, that one will be provided before any questioning if so desired," Adding that, "Failure to issue the Miranda warning renders evidence so obtained to not be admissible in the court. The warning became a national requirement when ordered by the U.S. Supreme Court in the 1966 case Miranda v. Arizona and that is how it got the name," (LawInfo.com, p.1). In the respect of this definition, the case involving Jane Smith would fall into direct violation in regards to the merits and meaning behind Miranda Rights. As the rights clearly state, a person has to be given the opportunity to posses legal counsel at the time of arrest and to have on one present during legal ques tioning. Another pertinent issue towards the legality of the case against a person in Jane Smith's position is the lack of parental consent towards the interrogation of their child who would have been a minor at the time. As common law states, when someone is a minor, they are to be approached with the knowledge and presence of their parents to consent to such approach. As the alleged perpetrator of the crime in question was a minor at the time, they would still be protected by the laws for interrogating minors despite whether or not the deciding authority wishes to charge the alleged as an adult. As there had been no written transferring of guardianship, the Uncle of Jane Smith would have no legal authority in regards to determining how, or even if his niece was to be questioned by the police. With the creation of laws, there is often times events and people that come as a way of facilitating such laws needing to be in place. In the case of the events leading up to case that which lead to the creation of the Miranda Rights law; A kidnapping and sexual assault occurred in Phoenix, Arizona, in March 1963. On March 13 Ernesto Miranda, 23, was arrested in his home, taken to the police station, identified by the victim, and taken into the interrogation room. Miranda was not told of his rights to counsel prior to questioning. Two hours later, investigators emerged from the room with a written confession signed by Miranda. It included a typed disclaimer, also signed by Miranda, stating that he had "full knowledge of my legal rights, understanding any statement I make may be used against me," and that he had knowingly waived those rights (Miranda v. Arizona, p.1). Such case practices that would later become illegal with the creation of the Miranda rights at the conclusion of the trial of Ernesto Miranda. Years since, the issue of delivering Miranda rights to person's in custody has become a central issue to the implementation of the American Judicial system in the way in which it was intended. For reasons of prosecuting crimes, the information gathered from alleged perpetrators is placed under great scrutiny as it comes to the methods for which they were gathered in the first place. Such attention paid in that, if collected even with the slightest bit of a hint that something had

The Topic Of Brain Fingerprinting Criminology Essay

The Topic Of Brain Fingerprinting Criminology Essay Brain fingerprinting is based on finding that the brain generates a unique brain wave pattern when a person encounters a familiar stimulus Use of functional magnetic resonance imagingin lie detection derives from studies suggesting that personsasked to lie show different patterns of brain activity thanthey do when being truthful. Issues related to the use of suchevidence in courts are discussed. The author concludes thatneither approach is currently supported by enough data regardingits accuracy in detecting deception to warrant use in court. In the field of criminology, a new lie detector has been developed in the United States of America. This is called brain fingerprinting. This invention is supposed to be the best lie detector available as on date and is said to detect even smooth criminals who pass the polygraph test (the conventional lie detector test) with ease. The new method employs brain waves, which are useful in detecting whether the person subjected to the test, remembers finer details of the crime. Even if the person willingly suppresses the necessary information, the brain wave is sure to trap him. Introduction: Brain Fingerprinting is a controversial proposed investigative technique that measures recognition of familiar stimuli by measuring electrical brain wave responses to words, phrases, or pictures that are presented on a computer screen. Brain fingerprinting was invented by Lawrence Farwell. The theory is that the suspects reaction to the details of an event or activity will reflect if the suspect had prior knowledge of the event or activity. This test uses what Farwell calls the MERMER (Memory and Encoding Related Multifaceted Electroencephalographic Response) response to detect familiarity reaction. One of the applications is lie detection. Dr. Lawrence A. Farwell has invented, developed, proven, and patented the technique of Farwell Brain Fingerprinting, a new computer-based technology to identify the perpetrator of a crime accurately and scientifically by measuring brain-wave responses to crime-relevant words or pictures presented on a computer screen. Farwell Brain Fingerprinting has proven 100% accurate in over 120 tests, including tests on FBI agents, tests for a US intelligence agency and for the US Navy, and tests on real-life situations including actual crimes. What is Brain Fingerprinting? Brain Fingerprinting is designed to determine whether an individual recognizes specific information related to an event or activity by measuring electrical brain wave responses to words, phrases, or pictures presented on a computer screen.   The technique can be applied only in situations where investigators have a sufficient amount of specific information about an event or activity that would be known only to the perpetrator and investigator.   In this respect, Brain Fingerprinting is considered a type of Guilty Knowledge Test, where the guilty party is expected to react strongly to the relevant detail Existing (polygraph) procedures for assessing the validity of a suspects guilty knowledge rely on measurement of autonomic arousal (e.g., palm sweating and heart rate), while Brain Fingerprinting measures electrical brain activity via a fitted headband containing special sensors.   Brain Fingerprinting is said to be more accurate in detecting guilty knowledge distinct from the f alse positives of traditional polygraph methods, but this is hotly disputed by specialized researchers. Technique: The person to be tested wears a special headband with electronic sensors that measure the electroencephalography from several locations on the scalp. In order to calibrate the brain fingerprinting system, the testee is presented with a series of irrelevant stimuli, words, and pictures, and a series of relevant stimuli, words, and pictures. The test subjects brain response to these two different types of stimuli allow the testor to determine if the measured brain responses to test stimuli, called probes, are more similar to the relevant or irrelevant responses. The technique uses the well known fact that an electrical signal known as P300 is emitted from an individuals brain approximately 300 milliseconds after it is confronted with a stimulus of special significance, e.g. a rare vs. a common stimuls or a stimulas the prOband is asked to count. The novel interpretation in brain fingerprinting is to look for P300 as response to stimuli related to the crime in question e.g., a murder weapon or a victims face. Because it is based on EEG signals, the system does not require the testee to issue verbal responses to questions or stimuli. Brain fingerprinting uses cognitive brain responses, brain fingerprinting does not depend on the emotions of the subject, nor is it affected by emotional responses. Brain fingerprinting is fundamentally different from the polygraph (lie-detector), which measures emotion-based physiological signals such as heart rate, sweating, and blood pressure. Also, unlike polygraph testing, it does not attempt to determine whether or not the subject is lying or telling the truth. Four phases of Farwell Brain Fingerprinting: In fingerprinting and DNA fingerprinting, evidence recognized and collected at the crime scene, and preserved properly until a suspect is apprehended, is scientifically compared with evidence on the person of the suspect to detect a match that would place the suspect at the crime scene. Farwell Brain Fingerprinting works similarly, except that the evidence collected both at the crime scene and on the person of the suspect (i.e., in the brain as revealed by electrical brain responses) is informational evidence rather than physical evidence. There are four stages to Farwell Brain Fingerprinting, which are similar to the steps in fingerprinting and DNA fingerprinting: 1. Brain Fingerprinting Crime Scene Evidence Collection; 2. Brain Fingerprinting Brain Evidence Collection; 3. Brain Fingerprinting Computer Evidence Analysis; and 4. Brain Fingerprinting Scientific Result. In the Crime Scene Evidence Collection, an expert in Farwell Brain Fingerprinting examines the crime scene and other evidence connected with the crime to identify details of the crime that would be known only to the perpetrator. The expert then conducts the Brain Evidence Collection in order to determine whether or not the evidence from the crime scene matches evidence stored in the brain of the suspect. In the Computer Evidence Analysis, the Farwell Brain Fingerprinting system makes a mathematical determination as to whether or not this specific evidence is stored in the brain, and computes a statistical confidence for that determination. This determination and statistical confidence constitute the Scientific Result of Farwell Brain Fingerprinting: either information present the details of the crime are stored in the brain of the suspect or information absent the details of the crime are not stored in the brain of the suspect. Applications: Counter terrorism: Brain fingerprinting can help address the following critical elements in the fight against terrorism: 1: Aid in determining who has participated in terrorist acts, directly or indirectly. 2: Aid in identifying trained terrorists with the potential  to commit future terrorist acts, even if they are in a sleeper cell and have not been active for years. 3: Help to identify people who have knowledge or training in banking, finance or communications and who are associated with terrorist teams and acts. 4: Help to determine if an individual is in a leadership role within a terrorist organization. Brain fingerprinting technology is based on the principle that the brain is central to all human acts. In a terrorist act, there may or may not be peripheral evidence such as fingerprints or DNA, but the brain of the perpetrator is always there, planning, executing, and recording the crime. The terrorist has knowledge of organizations, training and plans that an innocent person does not have. Until the invention of Brain Fingerprinting testing, there was no scientific way to detect this fundamental difference. Brain Fingerprinting testing provides an accurate, economical and timely solution to the central problem in the fight against terrorism. It is now possible to determine scientifically whether or not a person has terrorist training and knowledge of terrorist activities. With the Brain Fingerprinting system, a significant scientific breakthrough has now become a practical applied technology. A new era in security and intelligence gathering has begun. Now, terrorists and those supporting terrorism can be identified quickly and accurately. No longer should any terrorist be able to evade justice for lack of evidence. And there is no reason why an innocent individual should be falsely imprisoned or convicted of terrorist activity. A Brain Fingerprinting test can determine with an extremely high degree of accuracy those who are involved with terrorist activity and those who are not. Criminal justice: A critical task of the criminal justice system is to determine who has committed a crime. The key difference between a guilty party and an innocent suspect is that the perpetrator of the crime has a record of the crime stored in their brain, and the innocent suspect does not. Until the invention of Brain Fingerprintingtesting, there was no scientifically valid way to detect this fundamental difference. Brain Fingerprinting testing does not prove guilt or innocence. That is the role of a judge and jury. This exciting technology gives the judge and jury new, scientifically valid evidence to help them arrive at their decision. DNA evidence and fingerprints are available in only about 1% of major crimes. It is estimated that Brain Fingerprinting testing will apply in approximately 60 to 70% of these major crimes. The impacts on the criminal justice system will be profound. The potential now exists to significantly improve the speed and accuracy of the entire system, from investigations to parole hearings. Brain Fingerprinting testing will be able to dramatically reduce the costs associated with investigating and prosecuting innocent people and allow law enforcement professionals to concentrate on suspects who have verifiable, detailed knowledge of the crimes. Medical: Brain Fingerprinting is the patented technology that can measure objectively, for the first time, how memory and cognitive functioning of Alzheimer sufferers are affected by medications. First generation tests have proven to be more accurate than other routinely used tests, and could be commercially available in 18-24 months. The 30 minute test involves wearing a headband with built-in electrodes; technicians then present words, phrases and images that are both known and unknown to the patient to determine whether information that should be in the brain is still there. When presented with familiar information, the brain responds by producing MERMERs, specific increases in neuron activity. The technician can use this response to measure how quickly information is disappearing from the brain and whether the drugs they are taking are slowing down the process. Additional Applications: In advertising, Brain Fingerprinting Laboratories will offer significant advances in measuring campaign and media effectiveness. Most advertising programs today are evaluated subjectively using focus groups. We will be able to offer significantly more advanced, scientific methods to help determine the effectiveness of campaigns and be very cost competitive with current methodologies. This technology will be able to help determine what information is actually retained in memory by individuals. For example, in a branding campaign do people remember the brand, the product, etc. and how do the results vary with demographics? We will also be able to measure the comparative effectiveness of multiple media types. In the insurance industry, Brain Fingerprinting Laboratories will be able to help reduce the incidence of insurance fraud by determining if an individual has knowledge of fraudulent or criminal acts. The same type of testing can help to determine if an individual has specific knowl edge related to computer crimes where there is typically no witness or physical evidence. Case studies: The biggest breakthrough, according to Farwell, was its role in freeing convicted murderer Terry Harrington, who had been serving a life sentence in Iowa State Penitentiary for killing a night watchman in 1977. In 2001, Harrington requested a new trial on several grounds, including conflicting testimony in the original trial. Farwell was faced with an immediate and obvious problem: 24 years had passed since the trial. Evidence had been presented and transcripts published long ago; the details of the crime had long since come to light. What memories of the crime were left to probe? But Farwell combed the transcripts and came up with obscure details about which to test Harrington. Harrington was granted a new trial when it was discovered that some of the original police reports in the case had been missing at his initial trial. By 2001, however, most of the witnesses against Harrington had either died or had been discredited. Finally, when a key witness heard that Harrington had passed his brain fingerprinting test, he recanted his testimony and the prosecution threw up its hands. Harrington was set free. In Macon County, Mo., Sheriff Robert Dawson learned about the method from his secretary, who had also seen it featured on television. In 1999, Dawson ordered a test on J. B. Grinder, accused of raping and murdering a 25-year-old woman. Grinder had admitted and denied the allegations so many times that, according to Dawson, We didnt know what to believe anymore. Confronted with the test results, which seemed to confirm one of Grinders many confessions, Grinder pled guilty to the charges and also admitted to killing three other girls in Arkansas. When another murder investigation ran into problems earlier this year, Dawson turned again to brain fingerprinting. He refrained from discussing the details of the case with the suspect and with the media so that the P300 probes would be valid. While the suspect denied knowing anything about the case, Farwells test suggested otherwise. Comparison with other technologies: Conventional fingerprinting and DNA match physical evidence from a crime scene with evidence on the person of the perpetrator. Similarly, Brain Fingerprinting matches informational evidence from the crime scene with evidence stored in the brain. Fingerprints and DNA are available in only 1% of crimes. The brain is always there, planning, executing, and recording the suspects actions. Brain Fingerprinting has nothing to do with lie detection. Rather, it is a scientific way to determine if someone has committed a specific crime or other act. No questions are asked and no answers are given during Farwell Brain Fingerprinting. As with DNA and fingerprints, the results are the same whether the person has lied or told the truth at any time. Admissibility of Brain Fingerprinting in court: The admissibility of Brain Fingerprinting in court has not yet been established. The following well established features of Brain Fingerprinting, however, will be relevant when the question of admissibility is tested in court. 1) Brain Fingerprinting has been thoroughly and scientifically tested. 2) The theory and application of Brain Fingerprinting have been subject to peer review and publication. 3) The rate of error is extremely low virtually nonexistent and clear standards governing scientific techniques of operation of the technology have been established and published. 4) The theory and practice of Brain Fingerprinting have gained general acceptance in the relevant scientific community. 5) Brain Fingerprinting is non-invasive and non-testimonial. Record of 100% Accuracy: At the time of this first field application, Dr. Farwells successes in the scientific laboratory with his invention were already well known. In collaboration with FBI scientist Dr. Drew Richardson, Dr. Farwell achieved 100% accuracy in using Farwell Brain Fingerprinting to identify FBI agents based on their brain responses to words and phrases only an FBI agent would recognize. Tests conducted by Dr. Farwell for the US Navy in collaboration with Navy LCDR Rene S. Hernandez, Ph.D., also resulted in 100% accurate results. In research on contract with a US government intelligence agency, Farwell Brain Fingerprinting achieved 100% accuracy in proving the presence or absence of a wide variety of evidence stored in the brains of individuals involved in over 120 cases. Dr. Farwell has published extensively in the scientific literature and presented his research to many scientific and technical audiences throughout the world . Farwell Brain Fingerprinting has been subjected to rigorous peer review under US government sponsorship, and has been found scientifically viable as well as revolutionary in its implications. Conclusion: Brain Fingerprinting is a revolutionary new scientific technology for solving crimes, identifying perpetrators, and exonerating innocent suspects, with a record of 100% accuracy in research with US government agencies, actual criminal cases, and other applications. The technology fulfills an urgent need for governments, law enforcement agencies, corporations, investigators, crime victims, and falsely accused, innocent suspects.

The Individual and The System in Keseys One Flew Over the Cuckoos Nest :: One Flew Over Cuckoos Nest

The Individual and The System   One Flew Over The Cuckoo's Nest Many social issues and problems are explored in Ken Kesey's novel One Flew Over The Cuckoo's Nest. Perhaps the most obvious complaint against society is the treatment of the individual. This problem of the individual versus the system is a very controversial topic that has provoked great questioning of the government and the methods used to treat people who are unable to conform to the government's standards. McMurphy is an individual who is challenging and rebelling against the system's rules and practices. He eventually teaches this practice of rebellion to the other patients who begin to realize that their lives are being controlled unfairly by the mental institution. When McMurphy first arrives at the institution, all of the other patients are afraid to express their thoughts to the Big Nurse. They are afraid to exercise their thoughts freely, and they believe that the Big Nurse will punish them if they question her authority. One patient, Harding, says, "All of us in here are rabbits of varying ages and degrees...We need a good strong wolf like the nurse to teach us our place" (Kesey 62). This novel has a very strong theme of government rejecting those who are considered nonconformists in modern society. The government then places these nonconformists in mental institutions so it will not have to deal with them. This is society's way of ditching those with nonconformist attitudes so they will disappear from the world and be forgotten. According to one critic, oppressive, conformist, regulatory, civilization is the suppressor of individual freedom (Barsness 433). "He (McMurphy) hadn't let what he looked like run his life one way or the other,anymore than he'd let the Combine (the characters' metaphor for the government) mill him into fitting where they wanted him to fit...He's not gonna let them twist him and manufacture him" (Kesey 153). McMurphy is symbolized as the typical individual, while Big Nurse Ratched is symbolized as a member of the system, or the Combine. Bromden narrates, "McMurphy doesn't know it, but he's onto what I realized a long time back, that it's not just the Big Nurse by herself, but it's the whole Combine, the nation-wide Combine that's the really big force, and the nurse is just a high-ranking official for them" (181).