Audit and financial statements Essay Example | Topics and Well Written Essays - 2250 words

Audit and financial statements - Essay Example The scope of external auditor's work covers the audit of financial statements, probity in the use of public money and value for money in the use of resources. Internal auditor objectively examines, evaluates and reports on the adequacy of the internal control environment as a contribution to the proper, economic, efficient and effective use of resources. External audit is conducted in accordance with International Standards on Auditing (ISA) and with the Audit Commission's Code of Audit Practice. Internal audit's strategy and plan is agreed between internal audit and management. It is approved by the Audit Committee and cannot be directed by external auditor. Effective co-operation between external auditor and internal auditor means more than avoiding duplication. An effective framework of co-operation and co-ordination ensures liaison, co-operation on work programmes and the sharing of information. This can be achieved through: The external auditor has various responsibilities when it comes to performing the audit. It is the responsibility of the external auditors to perform audit of financial statements in such a way that they areable to form opinion, including: Auditors have a responsibility to satisfy themselves that the audited body has put in place proper arrangements to secure economy, efficiency and effectiveness in its use of resources. While doing so, the auditor must consider and assess the relevant significant business risks. Auditors are not required to report to audited bodies on the accuracy of performance information that the audited bodies publish. Auditor's work is limited to review of the systemsput in place by the audited body to collect, record and publish the information. Nor are auditors required to form a view on the realism and achievability of the assessments published by those audited bodies. The auditor's report should contain a clear written expression of opinion on the financial statements taken as a whole. The auditor's report includes the following basic elements: (a) Title (b) Addressee (c) Opening or introductory paragraph containing (i) Identification of the financial statements audited (ii) A statement of the responsibility of the entity management and the responsibility of the auditor (d) Scope paragraph containing (i) A reference to ISAs or relevant national standards or practices (ii) A description of work performed by auditor (e) Opinion paragraph containing (i) A reference to the financial reporting framework used to prepare the financial statements (ii) An expression of op

The Evolution of Voice Recognition Essay Example for Free

The Evolution of Voice Recognition Essay Aw the Dictaphone! What an extraordinary invention. This device has been used to record spoken notes of medical professionals to be transcribed at a later date for over a century. The Dictaphone has truly been an icon in the health care industry and will be missed. Since its invention health care has underwent so many changes and introduced so many technological advances. To follow suit the way in which medical notes are recorded and stored must too undergo change. And so it did. There has been skepticism along the way however, voice or speech recognition is beginning to be more accepted and widely used in the health care field. Voice recognition software was developed to produce text from spoken words. Instead of typing the words a computer user only needed to talk to the computer, and the text is typed by a program which is integrated into the software. Voice recognition was being experimented with by the government agencies for over six decades however, did not become reality in the public until the last two decades of the 20th century. This new technology allowed the user to enter comments or commands without keyboard functions or a mouse. This was truly hands free (Parente, Kock, Sonsini, 2004). The mid 1990s finally brought the induction of voice recognition into the health care industry. Many doctors feared the use of this new technology and others disbelieved the capabilities which prevented them from using the system. The vocabulary of the technology lacked the sophistication which would be required for its purpose. This program required the user to adapt to its capabilities instead of the program adapting to the user; this was backward to how the program would ideally work. Having a cold or an accent made the technology quite difficult to use. Computers were slower at processing information during this time in technological history; this made the problem worse. With the early version of voice recognition it was sometimes hard to tell the difference â€Å"between background noise and the user’s speech† and the technology was much less than cost effective. The system generally started at â€Å"$27,000 per workstation† (Parente et al. , 2004, Historical Development of Speech-Recognition Technology, para 6). The voice recognition system would be improved upon and become an important part of the technology used in hospitals today. A wider understanding of medical vocabulary would be important for doctors to hold any faith in the system. Improvements were indeed made over time. †Accuracy rates rose dramatically, and doctors were no longer struggling for the right words for the system to understand and record. Newer systems even provided each user with an opportunity to teach the computer to understand† the way that he or she speaks (Parente et al. , 2004, Historical Development of Speech-Recognition Technology, para 7). According to Business Source (2006), many hospitals are now using voice recognition technology with ease and finding the system quite dependable. Though expensive, using this â€Å"technology to replace transcription can lead to savings of over $10,000 a year. Thus, adopting voice recognition solutions can eliminate the need for in-house transcription staff, resulting in huge cost reduction† (para 3). The voice recognition technology has many functional uses; they â€Å"include transcription, patient monitoring, interactive response systems, telemedicine as well as electronic health record generation, maintenance and security† (Business Source, 2006 para 2). Though one must always be sure that patient privacy is protected, Wager, Lee, Glaser (2005) describes voice recognition, as a â€Å"method used in health care† which can best be used in â€Å"work environments where using a keyboard, mouse, or touch screen is not practical. † The newer systems are capable of understanding the speech of the user and how he or she applies the voice, through tone, pitch, and pattern; then this â€Å"is converted to computer-readable data† (Wager, et al. , 2005, p. 220). The voice recognition does not come totally without disadvantages. The disadvantage of these systems is the time it takes to train the computer to recognize the speech. This is a particular challenge in an area with many users. Higher-end systems are designed to understand any person’s speech, but most of these systems have fairly limited built-in vocabularies. Most would agree that speech recognition is still under development and its use is most likely in certain segments of health care, such as radiology, pathology, and emergency medicine. However, it does have the potential to be used with many other types of health care applications (Wager, et al. , 2005, p. 220). The use of voice recognition systems also requires the user to be aware of his or her surroundings. One must take precautions to restrict use to areas which are not accessible to the public, as the voice may carry and patient information may be heard by wandering ears. Depending on the information this could be harmful to the patient (information used may lead to identity theft if overheard) and violate confidentiality laws.

The Ipremier Dos Attack

The Ipremier Dos Attack Online websites and business face several security threats from hackers that are aiming to vandalize the website or steal information or at times notify the company about its internet security weaknesses. These threats include malicious code, bots and bot nets, phishing and DDoS or Distributed Denial of Service (Laudon K., Traver C., (2010)). Ipremier, an online business, faced one of these threats, the DDoS attack. iPremier is a successful online retailer of luxury, rare and vintage goods (Austin, R., (July 26, 2007)). The DDos attack begins by the hacker distributing bots on several computers and making these computers botnets (Laudon K., Traver C., (2010)). A botnet is a computer that is controlled by a hacker to perform activates such as participating in a DDoS attack (Laudon K., Traver C., (2010)). The hacker uses these botnets or controlled computers to flood a server with unwanted requests which slows or shutdown the server operations (Laudon K., Traver C., (2010)). This can b e costly to an online business because the customers wont be able to access the website. It can also affect the firms reputation if the website doesnt work for long. However, these attacks can notify or clarify for a company its weakness points in its internet security and infrastructure. The CIO Bob Turley was in New York when an employee called to inform him that the website is not working and that they have been receiving numerous emails that say Ha (Austin, R., (July 26, 2007)). The CIO called Joanne the technical operations team leader to discuss the current situation but she was still on her way to Qdata where the company servers are located and did not know what was going on (Austin, R., (July 26, 2007)). She suspected that the actions were caused by a hacker and that the sender of the e mail was unknown and hard to track (Austin, R., (July 26, 2007)). Unfortunately, their emergency plan was out dated and they couldnt remember where the document is placed (Austin, R., (July 26, 2007)). A suggestion was made to call the police or FBI but they were concerned about negative publicity (Austin, R., (July 26, 2007)). After a while the CIO called the CTO to take his opinion on the matter (Austin, R., (July 26, 2007)). The CTO refused the idea of pulling the plug becau se information on the attack might be lost (Austin, R., (July 26, 2007)). The CEO mentioned that the detailed logging was not enabled so the logs wont provide them with much information (Austin, R., (July 26, 2007)). The legal counselor called as well to provide legal advice on the matter and told the CIO to pull the plug to protect credit card information (Austin, R., (July 26, 2007)). After Joanne arrived at Qdata she wasnt able to access the NOC for security reasons (Austin, R., (July 26, 2007)). The CEO called a senior in Qdata and Joanne was allowed access to the NOC (Austin, R., (July 26, 2007)). He discovered that the attack is directed at their firewall and it is being directed from multiple IP addresses (Austin, R., (July 26, 2007)). She tried to shutdown traffic from the IP addresses but it didnt work because when one IP address shuts down another one operates and so on (Austin, R., (July 26, 2007)). The main concern was that customer information was not jeopardized or sto len (Austin, R., (July 26, 2007)). At 5:46 AM the attack stopped and Joanne suggested that they do a thorough audit to be sure that customer information has not been stolen and to know the points of weakness (Austin, R., (July 26, 2007)). During the attack it was obvious that the employees were shocked by the security threat. They did not know what to do, they never faced a security threat before and they do not have an emergency plan. The employees communicated through phone calls and no one knew what needs to be done or what was happening. Also, there wasnt a proper emergency communication with Qdata which led to banning the technical team leader from entering the NOC. The team reacted well to the situation despite that they did not have any structured plan to face the problem. They were trying to solve the problem through intuition and experience because there wasnt any plan. They tried hard and the top managers were awakened at the middle of the night to solve the crisis. However, when looking at the overall situation there hasnt been any systematic process in solving the problem and instead they relied on intuition and experience. If I was bob truly, the CIO, the first person I would have contacted is the CTO and I would have cancelled the meeting in New York and went to the company if possible. If it was not possible to find a flight, I would have instructed Leon to get the emergency plan and work on it. Although it is outdated, I would try to modify it as much as I can to match the current situation which can be useful. Also, I would stay in close contact with the CTO and Qdata to solve the problem faster. Some service providers do not respond to customers quickly and require the customer to call them over and over until they perform the request. In addition, after the attack is over I would have called for an emergency meeting to assess the current situation, the companys technological infrastructure, know what information have been or could have been jeopardized and discuss the modifications on the emergency plan. After the attack the company should be worried about the customer information and specially credit card and transaction information. Another thing is that the attack might have gone far and installed a bot on one of the servers. If this happens the servers might be used for another attack and the ipremier will be held responsible. Also, the infrastructure and security is not effective against threats so using Qdata as the website host must be changed. Moreover, I have to be sure that there hasnt been any leak because if the customers know that the website was hacked they may never deal with the company again. They may not understand that these things happen and security threats happen almost all the time, several people are not familiar with the term Cyber War. The company should create a backup customer and transaction database that is disconnected from the internet to prevent it from being attacked from the outside. It is an online business, so the customers and their transaction information should be well protected from any attack. I would recommend that not all the website and its information to be outsourced. The server, website design, and website related information can be outsourced but the customer and transaction information should be handled internally for more control. They have to find another host other than Qdata with more abilities and more technological advancement to handle their operations and protect them from further attacks. Also, I must have a full understanding of the situation so that if there is any leak to the press I can answer their questions and find a way to assure the customers that their data is safe. In conclusion, ipremier is an example for every online business. They did not expect that an attack may happen and were very confused when it actually happened. What online businesses should learn from ipremier is that an emergency plan is critical for any business. Also, they should know that there isnt one perfect security system that can protect them from all kinds of attacks. They should keep in mind that since man created these security systems then he is able to break through it. what who Where architecture Infrastructure architecture Infrastructure architecture Infrastructure Hardware Do we need a new security system? What kind of hardware do we need for the new security system? Who knows the most about the companys technological infrastructure? Who will handle the operation of the new security system? Does the new security system require a relocation of our servers? What hardware components need to be changed to install the new security system? Software What parts of our companys software will be affected? Do we need any new software for the new security system? Who will be affected by installing a new security system? Who needs to be trained in order to accommodate with the new system? Does the geographical location of our company affect the installation of the new system? Will the new security system have the functionality we need? Network Does the new security system require a minimum bandwidth? Can the current network handle the operations of the new security system? Who will have access to the security system network? Will any body need access from outside the companys physical boundaries? What are the security threats in the companys current technological architecture? Where will the company locate the necessary components of the new security system? Data Will the current data formats be compatible with the new security system? Which formats need to be changed? Who will have access to the data provided by the system? Who will be responsible for backup and to whom is the access limited? Where does the current architecture face problems in regards to data flow? Does the company need to change its current storage devices for the new security system? Resources:- Austin, R., (July 26, 2007). The iPremier Company (A): Denial of Service Attack. Harvard Business School. Laudon K., Traver C., (2010). E-commerce 2010 (6 Ed.), chapter 5. Pearson Education.

Animal Farm: Utopia :: Animal Farm Essays

Animal Farm: Utopia The definition of Utopia is "no place." A Utopia is an ideal society in which the social, political, and economic evils afflicting human kind have been wiped out. This is an idea displayed in communist governments. In the novel, Animal Farm, by George Orwell Old Major's ideas of a Utopia are changed because of Napoleon's bad leadership. Old Major explains his dreams and ideas to all the animals before he dies. At his speech all the animals go to hear what Old Major has to say. This happens on the night that Mr. Jones comes home drunk. Old Major explains his ideas to all the animals: Man is the only creature that consumes without producing. He does not give milk, he does not lay eggs, he is too weak to pull the plow, he cannot run fast enough to catch rabbits. Yet he is lord of all the animals. (p.19) This speech gets all the animals riled up and sends the toughts of getting rid of man. Old Major then teaches them the song the Beasts of England which teaches them the "great" life without man and with no more bad leaders: Beasts of England, beasts of Ireland, Beasts of every land and clime, Hearken to my joyful tidings, Of the golden future time. Soon or late the day is coming, Tyrant Man shall be o'erthrown, And the fruitful fields of England, Shall be trod by beasts alone. Rings shall vanish from our noses, And the harness from our back, Bit and spur shall rust forever, Cruel whips no more shall crack. Riches more than mind can picture, Wheat and barley, oats and hay, Clover, beans, and mangel-wurzels Shall be ours upon the day...(p.22-23) After the song the animals were even more excited. They sing the song so loud it wakes Mr. Jones up. Mr. Jones starts firing his gun into the darkness. This quickly scatters the animals. Three days later Old Major dies so Snowball and Napoleon take over but Napoleon wants all the power. Snowball does a lot of research and planing but Napoleon wants to take over completely by himself. So Napoleon frames Snowball so he can become the leader. Orwell tells about the meeting to discuss the windmill: By the time he had finished speaking, there was no dought as to which way the vote would go. But just at this moment Napoleon stood up and...uttered a high pitched whimper of a kind no one had ever heard...nine enormous dogs wearing brass studded collars came...they dashed strait for snowball. (P.57) This scene shows Napoleon is a tyrant and wants all the power to himself and

Measuring Public Ratings’ Impact on Financial Condition

MEASURING PUBLIC RATINGS’ IMPACT ON FINANCIAL CONDITION OF MASS MEDIA COMPANIES IN THE PHILIPPINES: AN ANONYMOUS RELATIONSHIP A Thesis presented to the Faculty of the College of Business, Economics, Accountancy and Management De La Salle Lipa In partial fulfillment of the requirements for the Degree Business Management Major in Financial Management by Macatangay, Gladys Maralit, Joshua Montes, Jose Miguel Salute, Niel Patrick Acknowledged by Winnie D. Dimaano Thesis Adviser ABSTRACTThis study will aim to recognize the significant relationship of Public ratings/ media ratings to the subject mass media companies’ (ABS-CBN, GMA Network) financial condition and stock market performance for the years 2009-2011. The purpose of the study is to determine the companies’ public ratings/ media ratings for the years 2009-2011, to assess if there is a significant relationship between public ratings/ media ratings and the companies’ financial condition and stock market performance and to determine if public ratings/ media ratings have a significant effect on the companies.The public ratings/ media ratings will be gathered online through the websites of AGB Nielsen Philippines and Kantar Media. The researchers will be using secondary data collection technique in gathering information regarding the present study. The researchers will also use correlational research design to analyze the data. Descriptive design will also be used in the study. TABLE OF CONTENTS Page ABSTRACT i ACKNOWLEDGEMENT ii DEDICATION iii LIST OF FIGURES AND TABLES ivLIST OF APPENDICES v Chapter 1 BACKGROUND OF THE STUDY Introduction 4 Statement of the problem 5 Operational Framework6 Hypothesis7 Research Objectives 7 Significance of the Study 8 Scope and Limitation 9 Definition of Terms10 2 REVIEW OF RELATED LITERATURE Related Literature 11 Related Studies12 Synthesis 14 3 RESEARCH METHODOLOGY Research Design 15 Respondents of the Study16 Locale of the Study16 Research Tools an d Instruments16Data Gathering Procedure17 Data Analysis and Interpretation17 BIBLIOGRAPHY20 APPENDICES Chapter 1 BACKGROUND OF THE STUDY This chapter presents the background of the study, statement of the problem, statement of research objectives, significance of the study and the scope and limitations of the study. Introduction In the Philippines, one of the most influential systems of the society is media. Thus, this makes it one of the systems that the public knows the most and is familiar of.However, despite its familiarity, there are only few who are curious of how public ratings and public relations affect these companies’ financial condition in terms of its liquidity, solvency and stock value; and perhaps in the long run how it affects its profitability and revenue. In the past years, there have been two dominant Mass Media companies that are almost at par in terms of revenue in the country; The Alto Broadcasting System – Chronicle Broadcasting Network popularly known as ABS-CBN and the GMA Network (GMA), commonly signified to as â€Å"Kapuso Network†.These are major commercial television network in the Philippines owned and operated by the publicly traded Filipino media conglomerates. Public Ratings, in general has always been a part of these Mass Media companies’ way of showing their dominance over another and thus, the proponents came to an idea that perhaps public ratings have a significant effect on these companies financial condition and profitability ratio. The fact that these companies even spend large amounts of money to pay other market research companies to conduct a survey amongst the public is enough reason for the researchers to conduct a study about it.In general when conducting a study about Financial Management, it is common to have a study about the financial condition of a certain business or company concentrating only on one aspect of the company which is its financial statement. However, in this study the researchers would like to showcase the impact of public ratings to the financial condition of Mass Media companies in terms of its liquidity, solvency, and stock value and to prove if there is a significant relationship between these variables; as well as on its profitability ratio.Statement of the Problem This study will aim to recognize the significant relationship between mass media companies’ public ratings and financial condition from the year 2009 to 2011 here in the Philippines. The purpose of the study is to answer the following questions: 1. What are the public ratings of the two mass media companies in the years 2009-2011? 2. What are the companies’ financial condition/ performance in terms of: a. Return on Assetsb. Return on Equityc. Return on Investments 3.What is the Stock Market Performance/ Stock price of ABS- CBN and GMA network for the period 2009- 2011? 4. Is there a significant relationship between the companies’ public ratings and financial condition for the years 2009 to 2011? 5. What is the effect of public ratings to the media companies’ profitability and stock price performance? Operational Framework Hypothesis Ho1: There is a significant relationship between the media companies’ public ratings and financial condition. Ho2: Public ratings have a direct effect to the media companies’ stock market performance.Research Objectives It specifically aims to attain the following objectives: 1. Determine the public ratings of the two mass media companies in the years 2009-2011. 2. Determine the companies’ profitability ratios in terms of: a. Return on Assetsb. Return on Equityc. Return on Investments 3. Determine the Stock Market Performance/ Stock price of ABS- CBN and GMA network for the period 2009- 2011. 4. Determine if there is a significant relationship between the companies’ public ratings and financial condition for the years 2009-2011. . Determine the effect of public ratings to t he companies’ profitability ratio. Significance of the Study This study will be useful to numbers of sectors including the public, investors, brokers and traders, faculty, students and future researchers. For the publicThis study may introduce the value of public ratings to the public and may give them the idea that good public ratings does not only affect the media companies’ popularity or fame and its influence, but it also affects its financial condition in terms of its liquidity, solvency and stock value.For the investors This study is beneficial to the investors for they can have an additional basis in analyzing the past and the current financial condition of the media company they wish to invest at. The media companies’ public ratings would also help them analyze the which company profits more and which company gives greater opportunity for investment growth and diversification. For the brokers and tradersThis study is beneficial to the brokers and traders for they can have an additional basis in analyzing the companies financial health in terms of its liquidity, solvency and stock value.Thus, giving them basis for investment. For the facultyThe result of this study is beneficial for the professors to have a deeper understanding about what public ratings can really do to affect the financial condition of a certain company especially companies who directly concentrates on media usage for profitability. For the financial management students The result of this study is beneficial for them to learn more about the effect of public ratings which is commonly seen only as a basis for popularity.They can use it as a reference or guide to their study to further understand the factors that may affect a company’s financial condition. For the students and future researchersThe result of this study will serve as a reference to their finance courses. This will be useful to them by providing them essential details necessary in conducting thei r related studies. Scope and Limitations The study will focus on the significant relationship of public ratings to the financial condition of media companies in the Philippines in terms of liquidity, solvency and stock value.Specifically, the study will focus on public relations which may directly affect the public ratings of these media companies. Primary sources will be gathered by the researchers by visiting university libraries, reading articles and researches that are related to the study. Secondary resources will be also gathered via internet and finance websites These resources will prove that public relations have a significant relationship with public ratings. Furthermore, in determining the significant relationship between the variables (public ratings, liquidity, solvency and stock value), comparative analysis will be used.In order for comparative analysis to be done, the researchers gathered financial statements of both media companies from years 2009- 2011. The research ers also gathered the public ratings of these media companies that were gathered by market research companies that each media company has hired (Nielsen ratings and Kantar Media). Furthermore, the stock value for each company will be gathered. Definition of Terms Public Ratings Refers to media ratings issued by AGB Nielsen and Kantar Media market research firms in the Philippines that rate the subject corporations’ overall television viewer ratings.Chapter 2 REVIEW OF RELATED LITERATURE This chapter presented literature reviews related to the study. The section presents the writing of different personalities both foreign and local conducted by the proponents during their research which have been beneficial to the study. It involves reference materials and detailed facts stated by few people and pioneer in the field of investment that will serve as the foundation for sorting out and solving problems that may be encountered in the development of the proposed study.Literature an d studies presented in this study contained information, concepts, and findings that were contributory and fitting for the selection and development of the theoretical framework of the study. Synthesis was also created based from the gathered information and facts in literature and studies. Related Literature Public relations is now recognized as an important tool of management in production, distribution, and finance. â€Å"To have the people in your ommunity think well of you and your company, to win a measure of acceptance on the part of certain special publics, and lastly, as you devoutly hope, to gain some degree of recognition on the part of the general public. † is what media companies should do to gain better and more effective relations with the public. Related studies According to a book of Romeo P. Virtusio entitled â€Å"How to make it in PR: PR Veterans Tell Their Stories (2007),† Public Relations has a significant effect on Public ratings also known as me dia ratings.In this article the author emphasized that Public Relations is a significant asset to a company’s Public Ratings. The article also showed that there are long run relationships between the two, both directly affects each other progressively. A study conducted by a group of students from De La Salle University Taft entitled â€Å"Public Relations Firms in the Philippines and Their Life Cycle (2009),† explained that PR bears distinguishing marks for a company’s life as â€Å"failures† and â€Å"survivors. The study mentioned that Public Ratings can seriously affect a company’s orientation or leadership profile, vision, client management, financial management, preferences for innovation, and risk- taking propensity. Public Relation firms equally keep pace with the dynamic market and other forces to recognize the stage of decline which can trigger their demise, as in the case of defunct firms, and steer well through the known external envir onment/ public. This study also elaborated further the real effects of Public Ratings to companies. The operating relations firms are the survivors.They keep pace with the dynamic market and other forces in the known external environment, They keep abreast of their organizational life cycle by means of organizational blueprints for updates, interest in cultural orientation and judicious application of technological changes. Adaptation through selection is resorted to by the firms, so that alignment with the very satisfactory if not excellent business performance can be attained, to assure themselves of longer life cycle. It is in this regard that the applicability of the â€Å"Stewardship Theory† in management could be tested.The firms survive on the strength of their organization, systems and structures and competencies alone, which can prolong their life cycle. But even the masterful application of innovative management orientation and well- plotted strategy, which combines entrepreneurial orientation and stewardship, the resultant business performance still serve as a significant determinant of their life cycle. The â€Å"failed† firms are those whose management took for granted or ignored the essential requirements for a healthy and robust business concern.Deviations from the factors of entrepreneurial orientation and stewardship, and control of elements in the internal and external environments, generally lead to failures. An article written by Oscar S. Villadolid emphasized that in Public Relations, knowing the culture of the market, the set of beliefs and the value systems, traditions and ways of doing things, is what makes a strategy for good PR more effective. Mass Media companies will never get high media ratings if they do not do this. SynthesisThe studies and articles presented are closely related to the current study considering the different variables used. The primary focus was to determine the relationships between Public ratings also known as media ratings and the mass media companies’ financial condition. The studies presented assessed the significant relationship between public relations and public ratings. This helped in scrutinizing facts that are viable information to the completion of the study. Chapter 3 RESEARCH METHDOLOGY This chapter discusses the manner by which the study was conducted.The first portion shows the research design and the purpose of using such design. The second portion discusses the source of data and the third portion tells about the method of data analysis. It also discusses the ways in which relevant data needed for the research was collected and treated. Research Design This research paper will assess the relationship of public ratings and mass media companies found in the Philippines in terms of their profitability ratios mainly focusing on the companies’ return on assets, return on equity and return on investments for the years 2009 to 2011.The study will also focus on the companies’ financial condition that would help evaluate their performance in terms of solvency, liquidity and stock value. The study will use descriptive research design in order to analyze the relationship of selected mass media companies in the Philippines. Likewise, the correlational research design will be used to determine the impact of public ratings on the variables that were presented for the years 2009 to 2011. Respondents of the Study The subjects of the study would be the mass media companies specifically ABS-CBN and GMA Network that are listed under the Philippines stock market.Locale of the Study The study will be conducted in the Philippines specifically in Manila where the subjects are currently situated. Research Tools and Instruments The data that will be used for this study will be the public ratings posted by the market research companies hired to assess the ratings of ABS-CBN and GMA Network. Likewise, it shall use secondary data such as Finan cial Statement and Stock market performance. In order to assess the relationship between the variables mentioned, the researchers will gather the Financial Statements of these media companies for the years 2009 to 2011.Data Gathering Procedure The mass media companies’ data about profitability ratio and financial condition will be gathered through the use of information and communications technology by surfing the internet and researching through world-wide web. In addition, other data that will be used in this study will be collected through the references coming from the Library of the De La Salle University located at Taft mostly in the General collection and Periodical section. The researchers will also use secondary data collection technique in gathering information about the study.Secondary data will be derived from journal articles, manual/handbook and magazines as well as in the different educational, governmental and organizational websites for some related informati on about public ratings and mass media companies. Secondary data will also be obtained from related studies conducted for academic purposes. Data Analysis and Interpretation The researchers will analyze the data through the use of different methods for research. To test the relationship between the mass media companies’ public ratings, profitability ratio and financial condition, the correlational research design will be used.Moreover, the regression research design will be used to analyze and compare the financial statements of the media companies and their respective public ratings for the years 2009 to 2011. Descriptive design was also used in the study. Correlation analyses will be done to determine if significant relationship among the variables used in the study is present. The strength of the relationship among the variable will be interpreted using the following correlation equivalents: Table 1 Interpretation of Correlation Coefficient Values Correlation Coefficient V alue |Interpretation | |0 to 0. 10 |No correlation | |. 11 to . 30 |Weak correlation | |. 31 to . 50 |Moderate correlation | |. 1 to . 30 |Strong correlation | |. 71 to . 99 |Very strong correlation | The formula to be used will be: [pic] Where: n= number of pairs x, y are the number of the variables to assessed. Bibliography Romeo Virtusio P. 2007. How to make it in PR: PR Veterans tell their Stories. Filipino Book of Public Relations: 65-78. Branka Bugariska. 2013.Measuring Media Impact on Reputation: The Case of Telecommunication Companies in Macedonia. (available online:http://www. slideshare. net) Oscar Villadolid S, J. J Calero. 2007. How we dealt with Media. Filipino Book of Public Relations: 79-84. Davies, Gary et al. 2003. Corporate Reputation Management: The Key to Successful Public Relations and Corporate Communications. In: European Management Journal Vol. 21, No. 2, pp. 201-212, April 2003 Doorley, John and Garcia, Helio Fred. 2007. Reputation Management: The Key to Suc cessful Public Relations and Corporate Communications. New York ,NY, USA: Routledge, Taylor & Francis Group.

4 Tips for Job-Seeking Grads

4 Tips for Job-Seeking Grads Approximately 3.3 million high school students are graduating in 2015, according to the National Center for Education Statistics. Additionally, 1.85 million students will receive their bachelor’s degrees this year. While some of these will go onto further education and others will enter the military or explore volunteerships, many will be pounding the pavement in search of jobs. Unfortunately, the job market remains intensely competitive for new grads, but the good news is that there are some things you can do to position yourself for success. Read on to learn four top tips for today’s job-seeking grads. 1. Narrow Your SearchSending out hundreds of resumes and hoping one will stick is not only a giant waste of time, but is also unlikely to produce meaningful results. Instead, apply only to those jobs which are a match for your background, skills and interests.This will also give you the time to customize each resume and cover letter for the job, increasing your chances of getting hired.2. Use Social Media to Your AdvantageAccording to a recent Wall Street Journal article, as many as two out of five companies use social media to screen candidates.While cleaning up your Facebook and Twitter accounts is the bare minimum, it also pays to go the extra mile and create a professional profile on LinkedIn. Or, consider building a personal website amassing all of your social media into one central, easily accessible place.Social media also offers the invaluable opportunity to network. By joining Facebook groups and â€Å"liking† various industry organizations, you can keep up with the latest news and trends.But don’t forget the power of face-to-face networking, which can also help you make important connections.3. Be Pitch PerfectIn an era of instant gratification, it’s critical to be able to express yourself. Practice a pitch that’s concise yet compelling, conveying who you are, what you do, and why it’s important. Try to keep it to 30 seconds or less.Not sure where to get started? Your high school or college career center can offer valuable insight into crafting the perfect pitch, in addition to offering other helpful job search-related advice.4. Refine Your ResumeThink your resume is perfect? Think again. Rather than viewing your resume as a necessary evil, consider it a tool to help you get a dream job.Spend time going over your resume looking for everything from grammatical mistakes to skills gaps. If and when you identify any issues, take swift corrective measures to ensure that your resume makes the best possible impression.One great way to fill a skills gap? Volunteer or intern. This offers the opportunity to try your hand at something new while strengthening your resume. For example, if you’re interested in marketing but lack marketing training, these skills can be acquired through a volunteering or internship opportunity.While finding a job takes time, finding the right job involves an even greater investment for today’s freshly minted grads. These four tips can help you improve your marketability and make a positive impression on hiring managers.