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A Corporate Governance Report of William Hill - Free Essay Example

Sample details Pages: 8 Words: 2488 Downloads: 5 Date added: 2017/06/26 Category Business Essay Level High school Did you like this example? INTRODUCTION Corporate governance typically describes the way corporate power is exercised within business organisations. Good corporate governance practices are typically defined in terms of practices, processes, and sound economic performance (Turnbull 2010). The present report examines the implementation of sound corporate governance management practices in William Hill, a U.K. Don’t waste time! Our writers will create an original "A Corporate Governance Report of William Hill" essay for you Create order sports betting company. Particular attention will be paid to the practices and processes prescribed by the Corporate Governance Code (2014), the leading template for good corporate governance practices in the U.K. The goal of this report is to enlighten Institutional Investors as to a potential investment in the company. BRIEF COMPANY BACKGROUND William Hill is a global sports betting and gaming company, and one of the most trusted brands in the sports gaming industry. According to the companys latest available key financial statistics, total revenue ascends to  £1.61 billion, gross profit is  £1.32 billion, while EBITDA is  £385 million (Yahoo Finance 2015a). The companys EBITDA is revealing as to the companys financial soundness. The above-mentioned sound financial statistics are clearly reflected in Figure 1 (Yahoo Finance 2015b), which depicts the 5-year stock price trajectory of William Hill. The companys share price has almost tripled in value since January 2011. Notwithstanding, it should be pointed out that, for the sub-period between 2011 and 2013, the stock price soared; whereas, for the period 2013-2015, the stock price is relatively stable, which might point to the existence of impending regulatory shifts conditioning a potential demand weakness for its gaming products (e.g., the company is currently b eing affected by a significant decrease in profits accruing from gaming machines, in view of tougher gaming regulation (The Economist 2014)). Figure 1: Stock Market Price of William Hill (5-year chart) Source: Yahoo Finance; 5-year stock market prices (closing prices  £) WILLIAM HILL: A CORPORATE GOVERNANCE ANALYSIS The present section focuses on the following main five (5) topics of analysis that are relevant to the William Hill, where a more thorough examination of its corporate governance structure and practices are concerned. The first topic addresses the composition of the companys Board of Directors (Leadership); the second topic refers to the companys governance structures and Boardroom Practices (Effectiveness); the third focuses the reporting to shareholders and/or external audit procedures (Accountability); the fourth topic refers to the pay level of the companys Directors and Senior Executives (Remuneration); finally, communications and relations with shareholders are also examined (Relations with shareholders). These topics are quite crucial to our assessment pertaining to the implementation of effective and sound governance procedures and mechanisms at William Hill. Leadership The Board of Directors William Hills Board of Directors is composed of nine Board members (7 men and 2 women). The current Chief Executive Officer (CEO) is Mr. James Henderson, who heads the Groups overall strategic direction, the day-to-day management and profitability of the Groups operations(Hill 2015a). Mr. Henderson possesses extensive industry experience, having climbed the companys corporate ladder through his appointment through several company roles. Moreover, the companys CEO is seconded by the Mr. Neil Cooper, the Groups Finance Director. Mr. Cooper possesses extensive finance experience, having performed various roles outside the Group. The Board is also composed by the Chairman, Mr. Gareth Davis, who is responsible for the companys best corporate governance practices. Finally, the Board is also composed of a set of five independent non-executive Directors and a Company Secretary. The company had, in 2013, a number of female Board members compliant with best practices associated with fair gen der treatment at the Board level (The Guardian, 2013). However, in the current year, the number of female members seems to have fallen below best industry practices (Tonello 2010), but care should be taken to further increase the percentage of women on Board beyond the prescribed legislation (according to U.K.s Governance Code, that minimum percentage should equal 25% of women on Board). This might be a temporary setback, but it currently stands as a non-compliance issue (Financial Reporting Council 2014). The above-mentioned corporate governance structure is compliant with the best practices currently being promoted in the UK, in strict accordance with the UK Corporate Governance Code of 2014 (Financial Reporting Council 2014). The Boards composition seems to ensure that compliance with the Code is adequately assured. For example, there is a clear division of corporate responsibilities within William Hill, with no function overlap nor unfettered powers of decision held by any sp ecific Board member. Moreover, the percentage of outside Directors ensures proper oversight. Effectiveness Governance and Boardroom Practice According to Tricker (2012), there are a number of factors that decisively influence the effectiveness of a companys governance, the most relevant of which are related to the necessary skillset of the top management team, as well as functional flow of both internal and external communications with stakeholders. On both counts, William Hill possesses the necessary requisites in order to comply with the outlined good practices of governance. As previously described, the companys composition is quite diversified and experienced so as to effectively pursue the companys ambitious goals (the previous section describes in more detail the profiles pertaining to the main Board members); at the same time, the inclusion of non-executive Board members vis ÃÆ'  -vis the executive members clearly points out to a proper balance of powers within the sports betting group. That is, good governance practice dictates that inside (i.e., executive) vs. outside (i.e., non-executive) members co-exis t, so that the latter typically do not possess a previous link to the company which might jeopardise their autonomous and independent business judgement. On the other hand, the flow of information to outside investors seems to be quite proficient, most notably where the structure of communications through the Internet and social media is concerned. For example, the companys website provides accurate and in-depth details pertaining to the companys governance structure, balanced Board composition, the companys articles of association and the companys latest available annual accounts (for 2014), and the professional details of the companys auditor and corresponding Annual Report and Accounts. Online transparency seems to be a major company policy, which thus sustains the argument in favor of an effective and balanced governance practice (Hill, 2015b). It is hoped that this strategy of good corporate governance might also be applicable to the case of institutional investors, who t ypically require a greater insight into the companys operations and accounts, information which is normally not available online. This topic might be of importance in the subsequent investment decision making process of institutional investors, insofar as this class of investors typically undertakes a significant proportion of equity into the company and require detailed company information. A major caveat associated with this report concerns the fact that such a subsequent investment position assumed by the institutional investor might be less positively construed by the companys current management (i.e., it might be seen as a potential takeover of William Hill). Finally, a formal and rigorous annual evaluation of the companys top management team is also regularly conducted. The Report on Corporate Governance reveals that good corporate governance is linked to the performance of William Hill. The measures ensuring good corporate governance at the company, in compliance with the U.K. Governance Code, are the following: the induction of Board members through a bespoke program; Board members have full access to all the required information about the company; the Board members are subjected to re-election at least every three years (conditional on effective performance); and the Nomination Committee ensures the nomination for the Board constitutes a transparent process (Hill 2015c). Accountability Reporting to Shareholders /External Audit The Financial Reporting Council prescribes that a truly effective corporate governance structure relies on a number of components, namely: accountability to shareholders and their rights; the full availability of information pertaining to the companys performance and corresponding governance framework; finally, an ethical framework supporting a certain type of irreproachable behavior pattern by the companies, as evinced by either codes of conduct or statutes. In this respect, a distinction is maintained between the law as a stalwart of basic standards of conduct and corporate transparency and statutes or codes that are more efficient in encouraging best governance practice (Financial Reporting Council 2011). Accordingly, William Hills website provides accurate and timely information to existing and prospective shareholders. This information is quite detailed in the Investors area of the companys website, a fact that reveals the companys concern with upholding best governance pra ctices. On the other hand, full details pertaining to the companys auditor has also been properly disclosed, as well as the companys latest accounts (Hill 2015c). Remuneration Directors and Senior Executives The companys levels of remuneration to top executives should be sufficiently attractive to attract, retain and motivate Board members with the necessary quality to manage the company successfully. Simultaneously, the pay level should not be substantially above current market prices. A further point concerns the fact that the latter pay level should be adequately linked to both corporate and individual performance (Tricker 2012). Furthermore, pay levels should be subjected to a transparent and formal procedure, so that the executives involved are not directly responsible for deciding his or her remuneration. According to publicly available information on this topic, the remuneration level of the leading Board members is available through the Directors Remuneration Report, which has been included in the companys annual accounts for the latest year. A detailed breakdown of the accrued remuneration benefits is explicitly detailed in the report. This practice of publicly divulging remuneration levels of William Hills top management is quite compliant with U.K.s best governance practices. Moreover, the remuneration decision process, although somewhat complex, is fully transparent as the existence of mechanisms that ensure that the pay level is not determined by the interested party, and is effectively linked to individual performance (Hill 2015c). A potential area of non-compliance resides in the fact that the Remuneration Report does not fully disclose the remuneration levels for all the Board members, as well as in the fact that the disclosure of remuneration information pertaining to its CEO, although explained, is not entirely formulated in a simple and effective manner. Relations with Shareholders Effective governance practices dictate that relations with shareholders should be adequately based on the mutual understanding between the companys top management and the heterogeneous set of interests pertaining to existing shareholders. Moreover, a transparent process of communications between these two structures should also be implemented, properly taking into account the pursuit of the companys organisational goals (Tricker 2012). According to publicly available information, The Board remains strongly committed to maintaining good relationships with external investors, through constant dialogue, presentation of financial results, and adequate availability of top management to discuss governance issues, thus indicating efficient governance procedures (Hill, 2015d). RECOMMENDATION Global demand for gaming products is typically growing, as the popularity of both gambling and online entertainment continues its expansion at a truly global level. This global expansion should stand to benefit William Hill, and its long-term growth expansion. There are, however, two caveats (KPMG 2010) that warrant an investors attention. First, the online gaming market is undoubtedly a very attractive area of expansion for software developers, casinos and other land-based gambling operators, related suppliers, and industry newcomers and investors alike. This might increase a given companys operating costs, dragging down future growth, as competitive pressures increase in the industry. Second, there are several quite unpredictable political and legislative hurdles in place in many countries, and those obstacles might also condition future global growth. Nevertheless, online gaming seems to have a promising foothold in many European markets. Under this perspective, an investm ent in William Hill is also an investment into the future of online gambling, and the risk-return payoff might be quite interesting from a financial point of view. The online gaming industry thus possesses enormous growth potential, especially in advanced markets such the U.S. and the U.K. Notwithstanding, an impending ethical governance issue within the company might be linked to the allegations that the company might be exploiting addicted gamblers, by further enticing them through the advertisement of credit services to problematic gamblers (news.co.au 2015). This might pose a serious legal risk that might ultimately result in the dampening of growth and should be vehemently addressed through the implementation of adequate governance procedures. The present report sustains that an institutional investment in William Hill is thus justified by the companys sound and promising financial standing, the existence of proper mechanism that ensure that effective and robust corporate governance procedures and mechanisms have been properly implemented, and, ultimately, by the very buoyancy of the sport gaming industry in advanced economies. CONCLUSION In view of the analysis provided by this report, it is our assessment that William Hill is quite compliant with the UK Corporate Governance Code of 2014 (notwithstanding the fact that some issues pertaining to the process of effectively communicating remuneration levels to interested external stakeholders should be made more transparent and the number of female members to the Board should be increased). Finally, an investment decision by our institutional investors should be pursued, taking into consideration the companys financial soundness and its medium to long term growth prospects, notwithstanding the existence of impending regulatory issues that might condition the global growth of the sports betting industry. REFERENCES Hill, W., 2015a. Board of Directors [Online]. Available: https://www.williamhillplc.com/about/board-of-directors/ Hill, W., 2015b. Board and Governance. [Online]. Available: https://www.williamhillplc.com/investors/board-and-governance/ Hill, W., 2015c. William Hill Plc Annual Reports and Accounts 2014. [Online]. Available: https://files.williamhillplc.com/media/1832/2014-final-results-accounts.pdf Hill, W., 2015d. Shareholder engagement. [Online]. Available: https://www.williamhillplc.com/investors/board-and-governance/shareholder-engagement/ Financial Reporting Council, 2011. Effective Corporate Governance. [Online]. Available: https://www.frc.org.uk/FRC-Documents/FRC/FRC-Effective-Corporate-Governance.aspx Financial Reporting Council, 2014. The UK Corporate Governance Code. [Online] Available: https://www.frc.org.uk/Our-Work/Publications/Corporate-Governance/UK-Corporate-Governance-Code-2014.pdf KPMG, 2010. Online Gaming: A Gamble or a Sure Bet? [Online] Available: https://www.kpmg.com/EU/en/Documents/Online-Gaming.pdf News.co.au, 2015. William Hill offers customers $1000 credit. [Online]. Available: https://www.news.com.au/finance/money/william-hill-offers-customers-1000-credit/story-e6frfmci-1227286743077 The Guardian, 2013. FTSE 100 companies still 66 female directors short of boardroom target. [Online]. Available: https://www.theguardian.com/business/2013/oct/07/female-directors-boardroom-target-business-cable The Economist, 2015. A risky business. [Online]. Available: https://www.economist.com/news/britain/21598671-gambling-machines-are-controversialand-increasingly-unpopular-risky-business Tonello, M., 2010. Board Composition and Organization Issues. In: Baker, H.K. and Anderson, R., eds. Corporate Governance: A Synthesis of Theory, Research, and Practice. United States: John Wiley and Sons Inc., pp. 195-223. Tricker, B., 2012. Corporate Governance. Principles, Policies and Practices. Second edition. United Kingdom: Oxford University Press. Turnbull, C.S.S., 2010. Whats Wrong with Corporate Governance Best Practices?. In: Baker, H.K. and Anderson, R., eds. Corporate Governance: A Synthesis of Theory, Research, and Practice. United States: John Wiley and Sons Inc., pp. 79-96. Yahoo Finance, 2015a. Key Statistics. [Online]. Available: https://uk.finance.yahoo.com/q/ks?s=WMH.L Yahoo Finance, 2015b. Basic Chart. [Online]. Available: https://uk.finance.yahoo.com/q/bc?s=WMH.Lt=5yl=onz=lq=lc=

Meeting At The Daily Drinkers Club - 909 Words

On Friday afternoon, I attended an Alcoholics Anonymous (AA) meeting at the Daily Drinkers Club. The people that ran this meeting were very helpful and once alcoholics, so they were open to answering any questions that I had. The meeting started promptly at 3:00 pm and the mediator Tony introduced himself. First, the preamble was read and two chapters (chapter 3 and a portion of chapter 5) out of the Alcoholics Anonymous book were read by the people who came to the meeting. One very important action that occurred was the collection of money for the meeting space. Since this rely heavily on donations to for have these meetings every day, they need at least $30.00/ daily to run sufficiently. The main discussion themes that were shared by the participants were their solutions to how they dealt with addiction and how taking ownership was their key to success. Promptly at 3:58 pm an AA participant read the â€Å"Vision for you† and the meeting was dismissed. Social Change Mechanism Different AA participants spoke and only three of their stories stuck with me the most. Attendee A has been sober for 8 years. He stated that the reason the people relapse is due to â€Å"complacency†. The mechanism that I associated with his story was the social change mechanism. When he was an addict he could not read or write and hung out with the same people who were on drugs. Once he started getting sober and decided to change his life, he came to the realization that his friends were part of the problemShow MoreRelatedStarbucks s Mission And Vision1540 Words   |  7 Pagesthe most recognizable logos and companies across the globe today, continually expanding and diversifying their unique operations. The first Starbucks opened in Seattle, Washington in 1971 and since 1987 Starbucks has opened an average of two stores daily (Bonander). 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The Death Penalty Should Be Abolished as a Form of...

Running head: The death penalty The death penalty should be abolished as a form of punishment. Johnathon Aaron Excelsior The death penalty should be abolished as a form of punishment. This paper intends to shine some light on the death penalty in order to help the reader understand what issues face the system today and what problems can be corrected. This paper achieves this by: (1) pointing out the wrongful sentencing of innocent people and the use of DNA testing in attaining their freedom; (2) emphasizing the unjustness of the Capital Punishment system due to the arbitrary, racial and geographically biased nature of the process; And also (3) It shows that the evidence backing up deterrence as a major benefit of the death penalty†¦show more content†¦Georgia. This was a case of a poor, black, man from a southern state that was prone to issuing the death penalty. The outcome of this trial was a de facto moratorium between 1967 and 1977 where no executions were conducted in the United’s states during this time (Schmalleger, 2011). Deterrence is exaggerated and also obtainable through other ways. There are two possible ways to examine deterrence. First, it can be viewed the same way that most people understand it by; the Punishment of one criminal will deter multiple others from committing similar gruesome acts. This view has been brought up in a couple of study’s: the 2001 study by Hashem Dezhbakhsh and Paul Rubin at Emory University who concluded that on average one single execution results in 18 fewer murders; an earlier study was conducted by Viscusi in 1993 which pegged the average deterrence at 14. Most of the fundamental testing and deterrence hypotheses used leading up to the present were produced by Isaac Erlich between 1975 and 1977. 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Nav1.7 is a sodium ion channel that in humans is encoded by the SCN9A gene Free Essays

Introduction Literature Nav1.7 is a sodium ion channel that in humans is encoded by the SCN9A gene(Stewart et al, 2003). It is highly expressed in pain sensing neurons which are of two types, the nociceptive dorsal root ganglion (DRG) neurons and sympathetic ganglion neurons, which are parts of the autonomic (involuntary) nervous system (Cox et al, 2006). We will write a custom essay sample on Nav1.7 is a sodium ion channel that in humans is encoded by the SCN9A gene or any similar topic only for you Order Now In human’s mutation in SCN9A cause three human pain disorders, resulting in bi-allelic loss of function mutations in Channelopathy-associated insensitivity to pain (CIP), while activating mutations causes temporal pain in Paroxysmal External Pain Disorder (PEPD) and primary Erythermalgia (PE) (Drenth et al, 2007). Mutations in SCN9A leads to a complete inability to experience pain, which is due to lack of protein production. In organisms such as mammals amphibians and reptiles, it is of upmost significances to have the intelligence to feel harmful situations (Shevelkin et al, 2005). Pain which is a sense protects us from damage of the tissue by notifying us of situations that are able to cause injuries and stimulate tissue recovery. Combining investigation of Nav1.7 Variation with Pain Cohorts The increased activity of Nav1.7 due to SCN9A mutations are due to very serious pain connected to paroxysmal extreme pain disorder and primary erythermalgia which has clearly noticeable association of several clinically recognizable features (Estacion et al. 2009). In this research they investigated 578 individuals who shared similar characteristics with osteoarthritis (OA), five showed an important relationship with pain score in a linear relapse which include a modification in age, sex, body mass index and age-gender interaction; rs6432896, P = 0.048; rs7604448, P = 0.036; rs10930214,P = 0.027; rs6746030, P= 0.016; and rs7595255, P = 0.02, after 27 SNPs were been screened in SCN9A. Out of the five single nucleotide polymorphisms that showed an important association with pain, the last four were in a bond or union that lacked stability, after the disequilibrium bond analysis. Four of the SNPs which have important affiliation with pain score are all located in the introns and did not influence mRNA order. Cepeda et al (2007) state that SNP rs6746030 with little frequency encodes a tryptophan (Nav1.7-1150W), while a higher frequency encodes for arginine (Nav1.7-1150R) and is found on exon 18 and it influences the amino acid at point 1150 of Nav1.7, in other words, 1150R is a preserved amino acid and can be added to the normal action or work of Nav1.7. It is evident that an individual in the general public having rs6746030 A allele would be assumed to feel pain provocation when compared to others. The limitations of this research are in the modification of their age, gender, body mass index (BMI), and also the examination of individuals with similar characteristics (cohorts).Further research and examination could be carried out on SNP rs6746030 for analysis with additional pain cohorts and also with individuals having different characteristics because of its active result in regression examination. Clinical analysis of rs6746030 Diatchenko et al (2005) point out that pain reaction to various investigative processes was examined. The result was achieved that C-fiber activation was actively combined with rs6746030. The result suggests that A-allele-driven clinical pain is mediated by the arousal or stimulation of C-fiber which indicates the feeling of diffuse, dull, aching pain. Diatchenko et al. (2007) further claim that individual having the genotype AA feels more pain while individual having GG genotype feels less pain because clinical and investigative pain analysis backs an additive idea for the result of rs6746030 alleles. Similarly, Waxman et al. (2005) point out that SCN9A is a consequential contributor to human pain sensation and clinical pain ailments and this is as a result of the stimulation of mutation in SCN9A which leads to an acute irregular pain while an unstimulated mutation results in a total absence of pain. Diatchenko et al. (2005) feel that pharmacological materials that alter the respo nsibility of SCN9A(Nav1.7) are possibly beneficial in the treatment of this condition. Individual suffering from distinct amount of pain for each stimulus is due to their rs6746030 genotype. As each individual seems to have distinct genetic susceptiveness to pain, further analysis should be carried out to be conscious of the fact that openness to various class of anaesthetic is also genetically determined. References Cepeda M.S, Camargo F, Zea C, Valencia L.(2007). Tramadol for osteoarthritis: A systematic review and metaanalysis. 34:543–555. Cox j.j, Reimann F, Nicholas A. K, Thornton G, Roberts E, Springell K, Karbani G, Jafri H, Mannan J, Raashid Y, Al-Gazali L, Hamamy H, Valente E.M, Gorman S, Williams R, McHale D.P, Wood J.N, Gribble F.M, Woods C.G.(2006). An SCN9A channelopathy causes congenital inability to experience pain. Nature. 444:894–8. Diatchenko L, Nackley A.G, Tchivileva I.E, Shabalina S.A, Maixner W.(2007). Genetic architecture of human pain perception. Trends Genet. 23:605–613. Drenth J.P, Waxman S.G.(2007). Mutations in sodium-channel gene SCN9A cause a spectrum of human genetic pain disorders. J Clin Invest. 117:3603–9. Estacion M, et al.(2007). A sodium channel gene SCN9A polymorphism that increases nociceptor excitability. Ann Neurol. 66:862–866. Shevelkin A.V, Kozyrev S.A, Nikitin V.P, Sherstnev V.V.(2005). In vivo investigation of genome activity and synaptic plasticity of neurons in snails during learning. Neurosci Behav Physiol. 35:595–603. Stewart W.F, Ricci J.A, Chee E, Morganstein D, Lipton R.(2003). Lost productive time and cost due to common pain conditions in the US workforce. Jama. 290:2443–54. Waxman S.G, Dib-Hajj S.(2005). Erythermalgia: Molecular basis for an inherited pain syndrome. Trends Mol Med. 11:555–562. How to cite Nav1.7 is a sodium ion channel that in humans is encoded by the SCN9A gene, Essay examples

Taxation Law Incidence of Major Australian Taxes

Questions: 1. Calculate the Medicare levy and Medicare levy surcharge payable for the year ended 30 June 2016 for the following taxpayers? (a) An Australian resident, aged 25 years, with a taxable income of $18,000.(b) An Australian resident, eligible for a Seniors tax offset, with a taxable income of $32,000.(c) An Australian resident, aged 45 years, with a taxable income of $45,000.(d) A taxpayer who is not a resident for tax purposes, with a taxable income of $45,000.(e) An Australian company with a taxable income of $2,500,000.(f) An Australian resident, aged 45 years, with a taxable income of $110,000, holding private health insurance.(g) An Australian resident, aged 45 years, with a taxable income of $110,000, and no private health insurance.(h) An Australian resident with a taxable income of $150,000, holding private health insurance for 90 days of the income year.(i) Victor and his wife are Australian residents. Victor has a taxable income of $110,000 and his wife Jackie a taxable income of $75,000. They have no children and no private health insurance.(j) An Australian couple have four children and no private h ospital health insurance. What would be the familys minimum Medicare levy surcharge threshold? 2. You client, Rob, has the following income and deductions for the financial year ended 30 June 2015: salary, $32,000; bank interest received, $150; and allowable deductions for special work clothing, $450. Robs employer has deducted $2600 as PAYG tax from his salary during the year? 3. During the current income year Rafael, a resident taxpayer, has a gross salary of $68,000 (PAYG tax withheld $15,100), a fully franked dividend of $2,000, an unfranked dividend of $1,000, and a 60% franked dividend of $900? Answers: 1(A). Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 18,000.00 Medicare Levy 0 Medicare Levy Surcharge 0 Medicare Levy and Surcharge 0 B. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 32,000.00 Medicare Levy 0 Medicare Levy Surcharge 0 Medicare Levy and Surcharge 0 C. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 45000.00 Medicare Levy 900.00 Medicare Levy Surcharge 0.00 Medicare Levy and Surcharge 900.00 D. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 45000.00 Medicare Levy 0.00 Medicare Levy Surcharge 0.00 Medicare Levy and Surcharge 0.00 E. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 25,00,000.00 Medicare Levy 0.00 Medicare Levy Surcharge 0.00 Medicare Levy and Surcharge 0.00 F. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income $ 1,10,000.00 Medicare Levy $ 2,200.00 Medicare Levy Surcharge 0 Medicare Levy and Surcharge $ 2,200.00 G. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 110000.00 Medicare Levy 2200.00 Medicare Levy Surcharge 27.50 Medicare Levy and Surcharge 2227.50 H. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 150000.00 Medicare Levy 3000.00 Medicare Levy Surcharge 45.00 Medicare Levy and Surcharge 3045.00 I. Statement of Medicare Levy and Medicare surcharge payable Particulars Amount ($) Taxable Income 110000.00 Medicare Levy 2200.00 Medicare Levy Surcharge 33.00 Medicare Levy and Surcharge 2233.00 J. Statement of Minimum threshold Particulars Amount ($) Minimum threshold (A) 900000.00 Threshold increase per child 1500.00 Number of child after the first child 3.00 Total increase in threshold (B) 4500.00 Total Minimum Threshold (A+B) 904500.00 3. Computation of Rob Income For the year ended 30 June 2015 Particulars Amt ($) Net Salary 32000 Add: Bank Interest Received 150 Add: Pay G 2600 Total Income 34750 Less: Deductions 450 Taxable Income under 4-15 ITAA 1997 34300 Taxable Payable under ITRA 1986 3059 Medicare levy 686 Less: Pay G 2600 Tax payable 1145 4. Computation of Rafael Income For the year ended ... Particulars Amt ($) Assessable Income 68000 Fully franked dividend Franking credit 600 Unfranked Credit 1400 60% Franked Dividend Franking credit 162 Unfranked Credit 738 Unfranked Dividend 1000 Total Income 71900 Taxable Income under 4-15 ITAA 1997 71900 Tax on taxable income 14914.5 Medicare Levy 1438 Franking credit 762 PAYG 15100 Total Tax Payable 490.50 References Barkoczy, S., 2016. Foundations of Taxation Law 2016.OUP Catalogue. Cao, L., Hosking, A., Kouparitsas, M., Mullaly, D., Rimmer, X., Shi, Q., Stark, W. and Wende, S., 2015. Understanding the economy-wide efficiency and incidence of major Australian taxes.Treasury WP,1. Eckermann, S. and Sheridan, L., 2016. Supporting Medicare Health, Equity and Efficiency in Australia: Policies Undermining Bulk Billing Need to Be Scrapped.Applied health economics and health policy,14(5), pp.511-514. Hayward, R., 2014.Valuation: principles into practice. Taylor Francis. Miller, A. and Oats, L., 2016.Principles of international taxation. Bloomsbury Publishing. Snape, J. and De Souza, J., 2016.Environmental taxation law: policy, contexts and practice. Routledge.

Basic Concepts of Educational Measurement and Assessment Essay Example For Students

Basic Concepts of Educational Measurement and Assessment Essay Basic concepts of educational measurement and assessment. Summary Measurement, Evaluation and Assessment, this are the three important things that a learner undergoes for the facilitator to determine a valid and reliable result of achievement. But what is the difference of the three? Can we really measure achievement? It yes, then now can we make sure that it Is valid? There are deferent kinds of evaluation and assessment, It Is not Just a series of test, continuous quizzes, seat-work and assignment that are given to learners to test If they were dabble to grasp and understand the lesson. There Is d broader meaning when we talk about measurement, evaluation and assessment. Each of the three has Its own purpose and use: however. All tot the three are important. There can be a lot of questions when it comes to measuring a learners achievement but, this learning paper might help you understand more. Discussion l. Define 1. Measurement In academics, measurement refers to scores or result in an assessment It determines how much of the lesson the learner was able to understand. Measurement is typically used to measure the level of attainment of an individual in specific area like math, reading. Engage etc. Example: IQ of a person, Percentage scores and appraisal (very good! , good! ). 2. Evaluation Evaluation Is Annual. It serves as an evidence of what the learner learned; its an ongoing process that is very important to make valid and reliable judgment There are two types of evaluation, Formative and summarize. Formative evaluation Is d continuous evaluation that determine s the learners strengths, weaknesses and if you learned or not. On the other hand Summarize evaluation is the total evaluation tot what you learned. It is commonly used at the end of a term. Quizzes, Seawater, Recitation, Assignment. 3. Assessment Assessment Is a Dorsa term, never a test Is an assessment Ana all tests are assessment. The difference of assessment to measurement and evaluation is that assessment is a compilation of evaluation (series of measures) that identifies the progress of a learner for the whole school year. Achievement Test, Final Exams Etc. II. Measuring Achievement Can achievement be measured? How? Yes, everything can be measured when the difference exists. The difference is he improvement of the learner or anything that he/she learned. Achievement can be measured by using different kind of test. One of the most common tests is the Achievement Test. Ill. Achievement Test Achievement test is designed to assess how much knowledge a person has in a certain area or set of areas. weeklies. Com Major Use: * A tool or exam that measures the achievement of a learner. * It contributes to the evaluation of learning progress. * Determine the appropriate grade level for students who are either new to the system or need to be reassessed. Limitations: * Not all skills are measured equally. * The test may not accurately reflect the objectives the test taker was learning. The multiple choice type limits the creativity. Reflection Every type of assessment has its major use and limitation, all we need to do is to observe what kind of assessment will be more effective in a particular class. As teachers we must know that assessments can sometimes not give a reliable measure, in example you gave a quiz today and half of your students didnt passed. There can be a lot of conclusion why half of the class failed. It can be because they did not study or they really didnt understand your lesson or maybe they didnt take the quiz seriously. In that situation the results of the quiz can be unreliable. One more reason assessment is not that reliable is because in tests teachers are being score oriented, meaning they only rely on how many correct and wrong answers you were able to get. However, different assessment and a lot of evaluation will still give you the best reliable measure. Generalization When my group of friends talks about assessment many of us cant easily give a definition. Why? I think because the word assessment has a very broad meaning. .u333664c67641411315e2c4591f91a8b5 , .u333664c67641411315e2c4591f91a8b5 .postImageUrl , .u333664c67641411315e2c4591f91a8b5 .centered-text-area { min-height: 80px; position: relative; } .u333664c67641411315e2c4591f91a8b5 , .u333664c67641411315e2c4591f91a8b5:hover , .u333664c67641411315e2c4591f91a8b5:visited , .u333664c67641411315e2c4591f91a8b5:active { border:0!important; } .u333664c67641411315e2c4591f91a8b5 .clearfix:after { content: ""; display: table; clear: both; } .u333664c67641411315e2c4591f91a8b5 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u333664c67641411315e2c4591f91a8b5:active , .u333664c67641411315e2c4591f91a8b5:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u333664c67641411315e2c4591f91a8b5 .centered-text-area { width: 100%; position: relative ; } .u333664c67641411315e2c4591f91a8b5 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u333664c67641411315e2c4591f91a8b5 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u333664c67641411315e2c4591f91a8b5 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u333664c67641411315e2c4591f91a8b5:hover .ctaButton { background-color: #34495E!important; } .u333664c67641411315e2c4591f91a8b5 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u333664c67641411315e2c4591f91a8b5 .u333664c67641411315e2c4591f91a8b5-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u333664c67641411315e2c4591f91a8b5:after { content: ""; display: block; clear: both; } READ: The metaphors of africa EssaySome say the assessment is a process of evaluating; some say that it is a compilation of evaluations; some say that it is a way of assessing using different evaluation as proof, the good thing there is that in every definition, assessment is kind of synonymous to the word evaluation. Based on my research not all assessments achieve every single goals and objectives. www. Utopia. Org I agree on that statement, simply because some assessment like achievement tests does not measure other creative skills, it only assure the IQ and the knowledge of the learner in a specific subject area. Another reason is that test results depends on the learners performance. What if, (example) while having an exam the student feels sick, this may affect the mind-set of the test taker and it may cause failure even if the test taker studied. It seems that the validity and reliability of ones assessment is based on the learners performance and the teachers kind of assessment. What I mean is that there will always be an appropriate assessment in different classroom situation.