Management Credibility and Honesty Essay Example | Topics and Well Written Essays - 2750 words

Management Credibility and Honesty - Essay Example A company which ignores management and credibility in its dealing with the working capital will in the long term be characterised by a negative return over the time and ultimately it will have damaged the trust of its shareholders due to its accounting manipulations.There will be a weakened balance sheet through excessive debt and poor working capital management.Based on the above problems this paper reviews through the example of the Enron Saga the importance of management credibility and honesty on working capital management for company and the effect of bad management credibility and honesty.The significance of management   and the link with working capitalCooke and Williams (1998) state that without planning it is difficult to envisage the successful conclusion of any project or the effective control of time, money or resources. Planning is essential throughout all stages of the process from inception through to design, tendering, construction and commissioning stages of a proj ect. The reasons for planning are summarised below.†¢Ã‚  To aid contract control†¢Ã‚  To establish realistic standards†¢Ã‚  To monitor performance in terms of output, time and moneyIt is an essential function of management to prepare forecasts in order to establish a plan for the future of the business. Without a plan against which to monitor performance, management has no control and no business can be run successfully without keeping close control over the day- to -day finances. Control is achieved by preparing budgets.... roblems this paper reviews through the example of the Enron Saga the importance of management credibility and honesty on working capital management for company and the effect of bad management credibility and honesty. The significance of management and the link with working capital Cooke and Williams (1998) state that without planning it is difficult to envisage the successful conclusion of any project or the effective control of time, money or resources. Planning is essential throughout all stages of the process from inception through to design, tendering, construction and commissioning stages of a project. The reasons for planning are summarised below. To aid contract control To establish realistic standards To monitor performance in terms of output, time and money To keep the plan under constant review and take action when necessary to correct the situation It is an essential function of management to prepare forecasts in order to establish a plan for the future of the business. Without a plan against which to monitor performance, management has no control and no business can be run successfully without keeping close control over the day- to -day finances. This involves providing the information necessary for keeping managers informed so that decisions can be made about how business should react to current circumstances.When managing a project, or number of projects, accurate scheduling is critical to success. Double- booked resources, inaccurate information, mishandling of materials, and more can cause significant delays in the project that result in massive profit loss. It is vital therefore that a form of cash flow monitoring is in place. Financial plans are called budgets, and the process of making, monitoring and adjusting them is called budgetary

Thw Right To Elect Trial By Jury in Hong King Essay

Thw Right To Elect Trial By Jury in Hong King - Essay Example Hong Kong retained the right of jury trial in its Basic Law (Hong Kong Basic Law, 1997, Article 86). However, a recent decision by the Hong Kong Court of Appeal and the Final Court of Appeal in Chiang Lily v Secretary for Justice (2009 and 2010 respectively) confirm that the right to a jury trial in Hong Kong is not an absolute right. This paper analyzes the decision of Chiang Lily, specifically the determination that a right to jury trial is not an absolute right. It is argued that a right to jury trial is a fundamental right, but it is only necessary to meet the aims of justice if it can effectively serve its intended purpose. The intended purpose of a jury trial was to sustain and support the notion of a fair and public trial by one’s peers (Lai, 2010). The main question is therefore whether or not limitations on the right to a trial by jury subvert the concept of a fair and public trial. ... At the time the King sat in judgment of the courts and thus the jury system was introduced to safeguard against the risk of complete â€Å"despotism† (Spooner, 2006, p. 14). Therefore, the introduction of trial by jury was at once intended to ensure fairness and transparency of the justice system. It is therefore hardly surprising that the jury trial has been described as an â€Å"ancient right† and a â€Å"birthright† (Kingswell v R, 1985, Para. 49). Initially pressured by judges to bring a certain verdict, jurors enjoyed full and unrestrained discretion by the 16th century. Jurors was merely bound to follow their own conscience and their own understanding of the law irrespective of the judiciary’s opinion on the law or fact (Ostrowski, 2001). Thus by the 16th century, the jury system was firmly established as a bastion between corrupt officials, unfair laws and judicial pressure to interpret the facts of the case a specific way. This is the legacy that i nforms the current legal system and has done so since its inception. The Merits of Trial by Jury The merits of a jury trial and thus the rationale for preserving the trial by jury is captured in the words of Madam Justice L’Hereux-Dube of Canada’s Supreme Court. Madam Justice L’Heureux-Dube stated that: The jury, through its collective decision making, is an excellent fact finder; due to its representative character, it acts as the conscience of the community; the jury can act as the final bulwark against oppressive laws or their enforcement; it provides a means whereby the public increases its knowledge of the criminal justice system and it increases, through the involvement of the public, societal trust in the system as a whole (R v Sherratt, 1991, p. 523).