Business blue print document Essay

Recurring payments/deductions infotype (0014) in which you capture the details of periodic/regular earnings or deductions. For Mastek, Indian payroll, they will be Medical Reimbursement, Reimbursement of Books, Leave Without Pay, Guesthouse Deduction, Personal Courier and Personal STD/ISD Phone Call.   Additional payments infotype (0015) in which you capture the details of annual or irregular earnings or deductions. For Mastek, Indian payroll, they will be LTA and Performance Pay.   Contract elements infotype (0016) Monitoring dates infotype (0019)   Family details infotype (0021). Membership fees infotype (0057), which you can also set up to make payments to third-parties in particular cases Cost distribution infotype (0027), which you can also set up to assign the internal order number if the cost of the employee is to go to the internal order number. You can also assign the percentage so that only that percentage of cost goes to the internal order. If this infotype is not maintained or the percentage assigned to the internal order in this infotype is not 100 percent, then the system picks the cost center assignment from infotype 0001 to attach the cost. Personnel IDs infotype (0185) These infotypes have been modified to handle Indian requirements. India-specific infotypes containing payment information: – These infotypes have been created for India payroll only: –   Previous employment tax details infotype (0580)   Housing (HRA/CLA/COA) infotype (0581)   Exemptions infotype (0582)   Car & Conveyance infotype (0583)   Income from other sources infotype (0584)   Section 80 deductions infotype (0585)   Investment details (Section 88) infotype (0586)   Provident fund contribution infotype (0587). Other statutory deductions infotype (0588)   Long term reimbursements infotype (0590) * Nominations infotype (0591) 1. 7 POSTING TO ACCOUNTING Purpose Reporting for posting payroll results to Accounting, otherwise known as posting to Accounting, is a subsequent activity that is carried out after a successful payroll run. It usually takes place for each payroll period. During posting to Accounting, all posting data for the payroll results is selected, summarized, formatted, and then posted to the integrated components in Accounting. You can also archive the data created in posting to Accounting. Integration Different R/3 components are involved in posting to Accounting, and these components have different data requirements: –   Payroll (PY)   Financial Accounting (FI)   General Ledger Accounting (FI-GL)   Accounts Payable (FI-AP)   Accounts Receivable (FI-AR)   Special Ledger (FI-SL)   Controlling (CO) INTEGRATION OF THE COMPONENTS IN POSTING TO ACCOUNTING Payroll (HR) The principal organizational concept in Payroll is the wage type. A wage type classifies personnel expenses according to tax, insurance, labour legislation, pay scales and other operational characteristics. In Payroll, wage types are also used for saving additional information in the payroll results, for example, in the form of cumulation wage types (total gross amount or gross tax amount), or in the form of wage types for other important amounts (statutory net pay or transfer amount). The organizational assignments valid for all periods are also created within Payroll as well as special cost assignments, and the wage types are assigned to this information. During payroll, additional wage types are created to provide data for cost accounting and these are saved in the payroll results, for example, the portion of the wage that is not applicable on public holidays. Financial Accounting (FI) Financial Accounting is responsible for the flow of payments. The payment flows are posted to particular accounts depending on the type or identity of the receiver, and on the due date of the payment. Cost Accounting (CO) Cost Accounting splits the costs according to the type (cost type = G/L account) and assigns them to cost centers or to other cost assignment objects (additional account assignment). Posting to accounting allows you to post costs to the following account assignment objects: –   Position in customer order Implementation Considerations To ensure that the process of posting to accounting is completed successfully and without problems, please make the following settings: – Customize the components involved (wage types, accounts, other account assignment objects)   Customize Reporting for posting to Accounting. The individual components involved in posting to Accounting can be organized as follows:   All components are in the same clients of the R/3 System.   The accounting components are in a different system to the Payroll application component. This could be a different R/3 System, an R/2 System, or a third-party system. If the individual components are distributed in various systems, see setting up Posting to accounting.   Reporting for posting payroll results to Accounting   Posting documents In Customizing for Cross-Application Components under Scenarios ‘Posting payroll results to Accounting’. Features Posting to Accounting allows you to perform the following functions: –   Post retroactive accounting runs Pension Fund report for exempted Trusts (Though this is not applicable for Mastek, this is for the information only): – 1. Form 4 – Return of members leaving service 2. Form 5E – Return of the members leaving service during the month 3. Form 6 – Statement of contributions for the month ESI Reports 1. Form 6 2. Form 7 These reports are generated every half-year, in the months of October and April for the preceding contribution period. Professional Tax (PTax) Reports Payroll-India caters to the PTax Reports for the following states: – 1. Andhra Pradesh (Monthly) – Not applicable for Mastek 2. Gujarat (Monthly) – Not applicable for Mastek 3. Karnataka (Monthly) – Applicable for Mastek 4. Maharashtra (Monthly) – Applicable for Mastek 5. West Bengal (Monthly) – Applicable for Mastek 6. Tamil Nadu (Half-Yearly) – Applicable for Mastek 7. Madhya Pradesh (Annual) – Not applicable for Mastek These reports are to be generated at the relevant frequency for those states where PTax is applicable. The selection screen captures the following information: – 1. The PTax report can be generated for a PTax grouping created for the Personnel Subarea. 2. The report is printed in the relevant format for each state as applicable and for those employees for whom the PTax and return is applicable. Labour Welfare Fund Reports Payroll-India caters to Labour Welfare Fund reports for the following states: – 1. Gujarat (Half-Yearly) – Not applicable for Mastek 2. Using the standard SAP – ADP link the gross payroll results shall be uploaded to ADP for the final processing. The SAP US Payroll allows MSI to process payroll for employees in the United States, using data from SAP Personnel Administration and Benefits under a wide variety of configurations. The SAP Payroll system also offers a number of standard payroll reports. The Tax Reporter component will allow MSI to generate all required state and federal tax forms, such as SUI reports and W-2s. Further reports can be generated using Ad Hoc Query in conjunction with an SAP Payroll Infotype. However bulk of MSI requirements for legal reporting etc shall be met by ADP as the net payroll processing will be in their domain. Integration The Payroll component is integrated with other SAP HR components, such as Personnel Administration and Benefits. There are also interfaces to other SAP modules such as Financial Accounting and Controlling. 2. 1 COMPENSATION FOR USA PAY SCALE TYPE During the discussions it was realized that across Mastek Group, the compensation paid to the employees is divided into the following classifications: – 1. Technical – Professional 2. Technical – Semi-professional 3. Non-Technical – Professional 4. Non-technical – Semi-professional 5. Others – Professional 6. Others – Non-professional The same will be configured as the Pay Scale Types in the SAP R/3 system. PAY SCALE AREA The Pay Scale Area will remain same as we have defined our Personnel Areas. Therefore the following will be the Pay Scale Areas in the SAP R/3 system: – 1. Santa Clara 2. Dallas PAYROLL AREA & PAYROLL PERIOD In MSI, a semi monthly payroll period shall be used for running the payroll. Hence the payroll area defined in the SAP R/3 system for MSI is: – 02 – Semi Monthly – USA PAY SCALE GROUP The Pay Scale Group will be in terms of grades in the organization. The list of Pay Scale Group that is to be customized as under: – 1. T2 2. T3 3. G2 4. G3 5. G4 6. G6 7. G8 8. G10 9. G12 10. G14 11. G16 12. G18 13. G20 14. Project Trainee 15. Temporary PAY SCALE LEVEL There is no sub-classification of Pay Scale Groups, which can be mapped to the Pay Scale Level. At Mastek the salaries are defined in terms of Total Annual Gross (TAG) and then the money is divided into the various wage types of the employee. For the purpose of customization, one Pay Scale Level will be defined For the US compensation, Dallas has been taken as base location. The location is also considered for the US compensation package. To start the compensation review, first Mastek has to map the US Grades with the Indian Grades. The US Grades are as follows: – D2 D1 C2 C1 B2 B1 A2 A1 How they are mapped: – Indian Grade US Grade G4 D2 G6 D1 G8 C2 G10 C1, B2 G12 B1 G14 A2 G16 A1 The salary survey is done by an external agency and the salaries are fixed based on that. There are four major heads under which the salary is fixed for the review: – 1. Base Salary 2. Location Allowance 3. Skills 4. Performance Pay NOTE: MASTEK has decided that Indian grades shall be applicable globally and the US grades shall be mapped to equivalent Indian grades. However MASTEK is yet to provide the mapped list of grades for the same. The Reviewed salary is paid as Base salary and the relevant amounts are paid under the other heads. Thus the salaries are finalized for each and every employee in USA. It is to be noted that the salary survey report is Grade based in USA. As Dallas is taken as Base location, the amount for Location Allowance is fixed on the basis of the location the employee is scheduled to work in. For finalizing the location allowance the following factors are taken into account: – 1. Accommodation Cost, 2. Transportation Cost, 3. Tax Rate, and 4. Food Cost. All this is relevant to the Indian employees who visit USA from India. There is no information available as to how the compensation review takes place for the US nationals in USA. 2. 2 USA SPECIFIC BENEFITS ADMINISTRATION COBRA COBRA stands for the Consolidated Omnibus Budget Reconciliation Act of 1985. It requires the vast majority of employers to offer continuation of coverage to covered employee and their dependents who, due to certain COBRA qualifying events, lose group health plan coverage. Infotype 0211 COBRA Qualified Beneficiary Infotype 0212 COBRA Health Plan Infotype 0270 COBRA Payments > MSI pays 100% for its employee’s health insurance premiums. Employees’ dependents are eligible to participate in the same health insurance, however it’s the employees’ responsibility to pay the premium costs. > Anthem Health provides both Medical and Dental insurance for MSI employees and their dependents. LIFE INSURANCE > MSI provides life death and dismemberment insurance coverage for all of its employees through UNUM Life Insurance Company effective from the date of joining MSI. > The beneficiary will receive two times the employees’ annual base salary. 401 K PLAN > All employees are eligible for this plan > MSI does not make any contributions to this plan > Employee can contribute up to 25% to a maximum of USD 10,000 per calendar year. CAFETARIA PLAN > Also known as Section 125 Plan. > Employees can pay for medical and dependent care expenses with Pre Tax Dollars to avail of tax benefit under this plan. > Employees may choose to have designated amount of their income directed towards this plan. > This is solely and employee contributed benefit. 2. 3 STANDARD SAP US PAYROLL FEATURES SAP Payroll allows MSI to run payroll for employees in all states. Requisite statutory reports, such as Federal forms 940, W-2, W-3, and all state SUI forms are also supported by the SAP system. Payroll does not just involve the calculation of remuneration, but consists of a variety of processes that are becoming increasingly important due to the employer’s increased obligation to supply benefits and medical welfare. You can also control the financial system of third-party providers. The System calculates the gross and net pay, which comprises the individual payments and deductions that are calculated during a payroll period, and are received by an employee. These payments and deductions are included in the calculation of the remuneration using different wage types. However, since MSI has out sourced its net payroll processing to a third party called ADP. Hence only the gross payroll shall be run and an interface shall be provided to send data to ADP for net payroll processing and deduction of Taxes etc. After the remuneration payroll you can carry out various subsequent activities, for example, you can see to remuneration payment or the creation of various lists, and make evaluations. The Gross Payroll component processes employee master data from SAP Personnel Administration and generates wage types and amounts to be used by the Net Payroll component, or to be exported to a third-party product for net calculation. Pre-tax deductions and earnings are processed within the Gross Payroll component. Integration. The Gross Payroll component is closely integrated with the SAP Personnel Administration and SAP Benefits components Payroll in Dialog Mode Purpose The payroll program is run at a specific point in time, not only to calculate an employee’s basic remuneration but also any special payments, overtime payments or bonuses that must be effected for the period in question. You can follow the procedure of payroll directly in dialog mode. Payroll in dialog mode is particularly suited to simulate a payroll run for an individual payroll area or individual personnel numbers. Payroll in a Background Operation Use When you have checked all the settings for the payroll run, and have tested the run in a simulation run, you can perform the payroll run in a background job. Off-Cycle Activities Purpose As an addition to regular payroll, which carries out payroll at fixed regular intervals, this function enables you to carry out specific off-cycle payroll activities for individual employees on any day. You can issue a check to replace payments that were originally made to an employee by check or by transfer but which the employee did not receive, or if the check is in an unusable condition (for example, torn). You can reverse payroll results that were created by a regular or off-cycle payroll run. You can enter a check number into the system retrospectively for a payroll result for which you have already issued a check manually. 2. 4 MSI US PAYROLL – GROSS PROCESSING Purpose The Gross Payroll component processes employee master data from SAP Personnel Administration and generates wage types and amounts to be used by the Net Payroll component, or to be exported to a third-party product for net calculation. Pre-tax deductions and earnings are processed within the Gross Payroll component. Integration The Gross Payroll component is closely integrated with the SAP Personnel Administration and SAP Benefits components Payments The individual payments form the basis for the calculation of an employee’s gross remuneration, which is the core part of payroll. Gross remuneration is the starting point for the calculation of social insurance and tax payments, and also for the calculation of net remuneration. Structure In the R/3 System, payments are split into the following categories according to their characteristics: Basic pay. Basic pay consists of the fixed wage and salary elements that are paid in every payroll period. You enter them in the form of wage types in the basic pay (0008) infotype. Recurring payments and deductions Recurring payments and deductions are paid or retained with fixed frequency. The system determined the payments using factors such as overtime, leave or substitutions. The wage types that illustrate these factors are entered in the recurring payments and deductions (0014) infotype. In the processing stage the system uses the Customizing settings representing the collective agreement.   Additional Payments. Additional payments are remuneration elements that are not usually paid in each payroll period, and that are not paid at regular intervals. You enter them in the Additional Payments (0015) infotype. Benefits Integration to Payroll Purpose Users of the R/3 Benefits component can use Benefits Integration to streamline the payroll calculation process for their employees. The Benefits Integration component allows benefits-related deductions and contributions entered in master data to be processed during net payroll processing. Integration This component integrates the Payroll component with the Benefits component. Deduction and contribution amounts can be remitted to benefits providers using functionality from the Third Party Remittance component. 2. 5 THE PAYROLL PROCESS 2. 6 US PAYROLL REPORTING Introduction The R/3 HR Payroll System provides all regulatory and tax reports required by U. S. federal and state law, such as SUI reports for state unemployment agencies, W-2 reports for the federal and state governments, and the Multiple Worksite Report for the Bureau of Labor Statistics. Additional payroll reports are available for other business purposes, such as the New Hire Report. These reports allow efficient evaluation of payroll data and ensure compliance with government regulations. Integration Payroll reports access information from all HR Infotypes and evaluate data from HR Time Management and HR Organizational Management as well as HR Personnel Administration. Features R/3 Payroll offers numerous internal and regulatory reports, including: New Hire Reporting Tax Reporter for federal and state reports Law requires companies to report the results of their payroll calculation to several tax authorities, including the federal government and many state and local governments. This component enables you to produce regulatory reports for government authorities in the format required by each authority. Reports that Tax Reporter supports include Form 940 – Employer’s Annual Federal Unemployment Tax Return, Form 941 – Employer’s Quarterly Federal Tax Return, Form W-2 – Wage and Tax Statement, the 1099-R form and the Multiple Worksite Report. NOTE:-In case of MASTEK the above reports may be provided by ADP since ADP shall be responsible for running net payroll and doing all calculations and deductions for the same.

Grand Theory Written Assignment Essay

Nursing theory gathers specific information regarding aspects of nursing and utilizes these findings to communicate and describe nursing phenomena. Theories provide a framework for nursing practice and processes. Grand nursing theories are broadest in scope and provide generalizations regarding nursing situations. Grand nursing theories consist of four schools of thought. Nursing theorists bring a unique definition, approach, and focus to these specific schools of thought. The first school of thought includes theories that reflect an image of nursing as meeting the needs of patients (Meleis, 2012). When a patient is unable to meet their individual needs it is the responsibility of the nurse to provide what is necessary in assisting the patient towards independence. Virginia Henderson was a needs theorist who categorized human needs into 14 components: breathing normally, eating and drinking adequately, eliminate body wastes, move and maintain desirable postures, sleep and rest, selec t suitable clothes, maintain homeostasis, personal hygiene, protect the integument, avoid environmental dangers and injury to others, communicate with others, worship according to faith, participate in recreation, learn and discover, and work in such a way there is a sense of accomplishment (www.currentnursing.com). Henderson defined nursing as assisting with these activities to help the individual achieve independence. A person’s ability to successfully perform activities of daily living is imperative to healing. Nurses can assist patients achieve this by identifying knowledge deficits and providing the person with knowledge to help restore wholeness. The next school of thought is interaction. These theories were conceived by those who viewed nursing â€Å"†¦as an interaction process with a focus on the development of a relationship between patients and nurses† (Meleis, 2012). Interaction theorists focus on illness as an experience and nurses must implement therapeutic processes to care for the patient. Imogene King was an interaction theorist that defined nursing as â€Å"†¦a process of action, reaction, and interaction whereby nurse and client share information about their perceptions of the nursing situation and agree on goals† (Meleis, 2012). King’s theory stated that the goal of nursing is to help individuals maintain their health and share meaningful interactions to achieve their goals (Meleis, 2012). The interaction school of thought is imperative because it empowers the patient to be an active and equal participant in their own health care. The third school of thought is outcomes. These theorists strived to restore stability and bring balance to the patient and their environment (Meleis, 2012). Myra Levine was an outcomes theorist the believed that nursing is a conservation of integrities and energy (Meleis, 2012). Levine also defined nursing as patient advocacy and individualizing patient needs with compassion and commitment (Meleis, 2012). These theorists believe that effective coping mechanisms can help the patient live harmoniously. The fourth and final school of thought is caring/becoming. These theories evolved from interaction theories but they are more expansive. â€Å"The process of care is defined as a process of becoming for both clients and nurses; however, transformation is only possible if each is open to it† (Meleis, 2012). Jean Watson believed the goal of nursing to be mental and spiritual growth for human beings, (nurses and clients), and finding meaning in experiences (Meleis, 2012). The caring theory focuses more on the nurse/patient relationship compared to the interaction theory. The grand theory school of thought that is most congruent with my nursing practice is the outcomes theory. I believe that every patient responds to health issues differently. I assess what they need, what their deficits are, and how I can enable their coping mechanisms. I work at a busy trauma center and we have emergency surgeries frequently. Many of these are suction dilatation and curettages. Each woman handles this differently. So I sense and assess what they need to have the best outcome possible. Some want to leave right away, some want to stay a while, some want to see their family and some don’t. It might not be the norm to keep one of these patients for three hours, but I will keep them until they are ready to leave. I believe in patient advocacy on an individualized basis. Please refer to Table 1. Grand Theorist Information for theorist comparison.

Abortion Persuasive Essay

Steve Glansburg English 123-33 Professor Orszulak October 18th, 2010 â€Å"To abort or to not abort; That is the question† Abortion is one of the most debated topics in the United States today. Many people form their opinions on their already religious beliefs and morals. Right now in the United States, it is legal everywhere to perform an abortion. Abortion can be done at many different stages of the pregnancy and most people’s opinion on abortion differs with their thoughts of when during the pregnancy should it be ok to abort.I believe that abortion should always be legal because no one person has the right to tell a woman that she must have a child, even if it was a mistake. Accidents happen whether it be the condom tears, the birth control does not work, or even the rare cases where a woman gets pregnant without actually having sex. We are human beings, we are not perfect in anyway shape or form, we are bound to make mistakes and I don’t believe that this ki nd of mistake should automatically change your life without giving you an option if it does.I can see where people could get upset from someone performing an abortion when you can actually see fetus, but I don’t see where they could get upset when the egg is just fertilized or is just a collection of cells. One human being has over 50 trillion cells in their body and you shouldn’t get mad if a woman decides to kill about 100 of them (Human Body). That is my viewpoint; women should be allowed to get an abortion before a certain time in the pregnancy. I don’t view a collection of cells that is not any type of developed organism yet to be a living person.There are also other circumstances that I believe make abortion a valid choice for a woman. Rape is a horrific event that no woman chooses to have done to her and I don’t believe they should also have to be pregnant from it too. If I was a woman and I was raped and became pregnant, but was not allowed to hav e an abortion, I would be furious. â€Å"I would feel that I did not choose for this to happen to me, it was violently forced upon me and I think that should be enough punishment. I also would not want to have a child that has the mixture of DNA from myself and the man who raped me and scared me for life. Also when a woman is not fit to become pregnant I don’t believe that they should be forced into maintaining the pregnancy if they made a mistake. If a woman is too young, is not financially stable, or has a drug problem are all valid reasons to not stay pregnant. Becoming pregnant at a young age can honestly ruin your life and make it so you can never go back to the way things were and fulfill your dreams that you once had.Not being financially stable to support a child is also a big problem because every child deserves to have a safe and healthy childhood. Having a drug addiction really is a problem because addicts will not stop during that nine months that they’re pregnant and that can severely compromise the health and wellbeing of the growing fetus. Abortion is a very debated topic because of all the moral and ethnic ties that come with it. Everyone has different belief systems and family upbringings that make it so their viewpoints are their very own.All I can argue is that not everyone chooses to become pregnant and that is why I don’t believe people should not have the choice to not stay pregnant, because in the end the woman has the right to do what she wants with her own body. Work Cited â€Å"Human Body. † Www. newworldencyclopedia. org. Ed. Frank Kaufmann. New World Encyclopedia, 10 July 2009. Web. 26 Oct. 2010. .

Early Chinese-Americans and Manifest Destiny Essay

Early Chinese-Americans and Manifest Destiny - Essay Example From the image, it shows two races, the Chinese and the American in the nineteen Century. The photo depicts anti-Chinese racial prejudices by the Americans during the years 1820s to the end of the Century when the Chinese immigrants arrived in America. The American is represented by the woman who cuts the Chinese man hair to represent hate, resentment, prejudice of the Chinese Culture during this era. The early Chinese immigrants came from the south China’s Guangdong Province to in 1820 to America to escaping the political and economic instability experienced under the Qing Dynasty government, internal attack from the Taiping Rebels and external pressures from the Opium Wars. Their population increased from 325 men in 1849 (before the Californian Gold Rush) to 25,000 by 1852 and 105,465 by 1880 during the transcontinental railroad (Carlisle 29). They provided cheap labor compared to the Americans during the time. However they were mistreated, highly taxed, worked under harsh c onditions during the summer heat and also during cold winter days. Most of them lost their lives but for those who survived, settled in America for what its worth. In conclusion, although the Chinese were a source of cheap labor they were overworked under very harsh conditions in the mines field, received little pay were highly taxed. They were seen by the Americans as an inferior race of people, with differing language, color and physical appearance (short, plump, the male had kept strange long hair which the Americans represented by the lady in the image cutting

Triceratops Trail, CSM Geology Museum, and Dinosaur Ridge Essay

Triceratops Trail, CSM Geology Museum, and Dinosaur Ridge - Essay Example The triceratops trail footprints are different from the Dinosaur Ridge ones in that the ones for Dinosaur Ridge are aged million and are viewed from top. Triceratops Trail characterize tracks that are vied in three dimension formed if an animal leaves a print in mud that is afterwards filled hence forms a cast and vertically tilted by the rocky mountains uplift. The whole process leaves behind tracks that stick from the walls as the original layer had been mined away. Footprints of dinosaurs, birds, mammals and beetles are evident on the walls. It is a trail of 1.5 mile along parkway of Alameda between county road and Rooney road on the North. It has 100 tracks of dinosaurs, geological features and a quarry containing dinosaur bones. It takes about 2 hours to make trips. The trail is composed of more than 15 sites all marked by interpretive signs. At the ridge’s top there is a switchback curve that cuts through revealing the geological Hogback structure. Two overlooks scenes, west and east, are places where Front Range geology is studied or where one can sit and enjoy a beautiful scene. The interpretive signs on the curve show the gas and oil production, the basin of Denver, rocky mountains uplift and Golden fault. The bone quarry was discovered in the year 1877 by a company known as Arthur Lakes. This site was initially known as Morrison quarry no 5. Among the fourteen sites in the location only 4 did produce bones. Quarry no 5 is the bone quarry where the first stegosaurus in the world was discovered. Many vertebrae, limb parts and famous plates’ pieces were discovered and are now evident on Morrison museum display. The bones that are presently exposed at their sites of interpretation are most probably from Apatosaurus and stegosaurs and are washed by rain into stream channel. The bone quarry is amongst the few places where one can have a view of dinosaur bones and touch them in rocks in which they fossilized. The

Tangible Property of Wal-Mart Essay Example | Topics and Well Written Essays - 750 words

Tangible Property of Wal-Mart - Essay Example Similarly, the enactment of state and federal legislations that protected workers from workers exploitation led to a stronger employee’s awareness of their rights and duties. In the contemporary world, various governments have put in place adequate measures to ensure that employees are not under any form of discrimination. In cases of discrimination against color, region, nationality among others, strict measures should be taken on employers. Based on the emerging technology, it is significant for managers of small and large organisations to improve their security systems as a major way of protecting their tangible properties. This paper seeks to identify major employment relationships and their legal considerations, discrimination issues and their legal consideration as well as measures that a Wal-Mart manager should take to identify and protect the tangible property rights of his organisation. Employment relationships and associated the legal considerations One form of emplo yment relationship is permanent employment relationship. This refers to the arrangement whereby workers are compensated by their employers. In addition to the basic salaries, the employees are eligible to receive health care benefits, sick off and contribution to retirement plans among others. Fair Labor Standards Act (FLSA) is one of the legal consideration that established minimum wages and salaries for permanent employees (Burkhauser et al, 1989). In addition, the occupational Safety and Health Act is focused at promoting security within the work place. Private employment entails working arrangement whereby the employment relationship is between private employers and the workers. According to 1985 Consolidated Omnibus Budget Reconciliation Act (COBRA), voluntary or involuntary termination of the employee’s duties should not deter him or her from continuing with his or her health insurance. Employees Retirement Income Security Act (ERISA) is an additional regulation that se ek to prevent frauds within private pension funds. ERISA stipulates that the sponsoring employer cannot invest more than 10% of the pension’s funds in his or her securities. Discriminatory issues and the associated legal considerations One of the major types of employment discrimination is disparate-treatment. This is a situation whereby an employer discriminates a particular employee on the bases of his race, sex, religion or nationality. The second type of discrimination is the disparate-impact discrimination. This occurs when an employer discriminates against an entire protected class within the organization. For example, if a rule is set that all the sales executives should be 5.8 feet tall regardless of their gender, there is a possibility that more males will be hired as compared to females. This amounts to disparate-impact discrimination. Title 7 of the Civil Rights Act of 1964 prohibits employers from discriminating their employees on the basis of education, color and housing. Other aspects prohibited by the act include discrimination in hiring, promotion, payment of fringe benefits and job training Methods for managing legal risk arising from regulatory compliance issues

Financial Markets and Bank Management Essay Example | Topics and Well Written Essays - 1000 words - 2

Financial Markets and Bank Management - Essay Example We understand that you wish to expand your business operations and therefore, your fund requirement has increased. Our observations on your firm’s balance sheet are as per the following. The current ratio of the firm has declined in the year just completed though it still stays above 1.0; however, the quick ratio appears to be under strain. We notice that the acid-test ratio has gone down below 0.50 in the latest financial year. Net margin has also declined from 2.5 percent in year 2013 to 2.1 percent in the latest fiscal. Moreover, the net interest cover of the firm has also declined from 3.0 times to 2.7 times that provides marginal safety net for the firm in the current sluggish business environment. The declining stock turnover (in days) year after year is a good sign. In fact, it also establishes the declining needs of the working capital for your business. We have worked out the working capital requirement for your firm based on the information provided by you. The increased working capital requirement for the projected sales of  £1,550,000 is likely to be  £167,000 (working in annexure A). Considering the strength of your balance sheet and increased worki ng capital requirement, our bank increases existing overdraft limit from  £90,000 to  £180,000 and that should be adequate to meet your requirements. Our bank is in receipt of your loan request to increase the overdraft facility to  £10,000. We understand that you have to meet some essential expenses such as school fees for your son. Kindly find our detailed reply to your loan application in the following paragraphs. We extend overdraft facility to our valued customers essentially to meet some contingencies and sort out temporary cash flow issues when you fail to receive your dues in time. Though you started with initial overdraft of  £2,000 it has steadily increased and has reached to  £3,600. We notice