Search results for: Financial Risk

Authors: H. L. Yim, S. H. Lee, S. K. Yoo, J. J. Kim

Abstract:

This study proposes a materials procurement contracts model to which the zero-cost collar option is applied for heading price fluctuation risks in construction.The material contract model based on the collar option that consists of the call option striking zone of the construction company(the buyer) following the materials price increase andthe put option striking zone of the material vendor(the supplier) following a materials price decrease. This study first determined the call option strike price Xc of the construction company by a simple approach: it uses the predicted profit at the project starting point and then determines the strike price of put option Xp that has an identical option value, which completes the zero-cost material contract.The analysis results indicate that the cost saving of the construction company increased as Xc decreased. This was because the critical level of the steel materials price increasewas set at a low level. However, as Xc decreased, Xpof a put option that had an identical option value gradually increased. Cost saving increased as Xc decreased. However, as Xp gradually increased, the risk of loss from a construction company increased as the steel materials price decreased. Meanwhile, cost saving did not occur for the construction company, because of volatility. This result originated in the zero-cost features of the two-way contract of the collar option. In the case of the regular one-way option, the transaction cost had to be subtracted from the cost saving. The transaction cost originated from an option value that fluctuated with the volatility. That is, the cost saving of the one-way option was affected by the volatility. Meanwhile, even though the collar option with zero transaction cost cut the connection between volatility and cost saving, there was a risk of exercising the put option.

Keywords: Construction materials, Supply chain management, Procurement, Payment, Collar option

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2509

Authors: D. Hilton

Abstract:

An analysis of the Australian Diabetes Screening Study estimated undiagnosed diabetes mellitus [DM] prevalence in a high risk general practice based cohort. DM prevalence varied from 9.4% to 18.1% depending upon the diagnostic criteria utilised with age being a highly significant risk factor. Utilising the gold standard oral glucose tolerance test, the prevalence of DM was 22-23% in those aged >= 70 years and <15% in those aged 40-59 years. Opportunistic screening in Australian general practice potentially can identify many persons with undiagnosed type 2 DM. An Australian Bureau of Statistics document published three years ago, reported the highest rate of DM in men aged 65-74 years [19%] whereas the rate for women was highest in those over 75 years [13%]. If you consider that the Australian Bureau of Statistics report in 2007 found that 13% of the population was over 65 years of age and that this will increase to 23-25% by 2056 with a further projected increase to 25-28% by 2101, obviously this information has to be factored into the equation when age related diabetes prevalence predictions are calculated. This 10-15% proportional increase of elderly persons within the population demographics has dramatic implications for the estimated number of elderly persons with DM in these age groupings. Computational methodology showing the age related demographic changes reported in these official statistical documents will be done showing estimates for 2056 and 2101 for different age groups. This has relevance for future diabetes prevalence rates and shows that along with many countries worldwide Australia is facing an increasing pandemic. In contrast Japan is expected to have a decrease in the next twenty years in the number of persons with diabetes.

Keywords: Epidemiological methods, aging, prevalence.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1941

Authors: Petra Horváthová, Irena Durdová

Abstract:

The article is aimed at bringing information on the scope and the level of use of talent management by organizations in one of the Czech Republic regions, in the Moravian-Silesian Region. On the basis of data acquired by a questionnaire survey it has been found out that organizations in the above-mentioned region are implementing the system of talent management on a small scale: this approach is used by 3.8 % of organizations only that is 9 from 237 (100 %) of the approached respondents. The main reasons why this approach is not used is either that organizations have no knowledge of it or there is lack of financial and personnel resources. In the article recommendations suggested by the author can be found for a wider application of talent management in the Czech practice.

Keywords: Talent, talent management, use, mind map of talent management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2154

Authors: Lindiwe O. K. Mabuza, Alan C. Brent, Maxwell Mapako

Abstract:

Technology transfer of renewable energy technologies is very often unsuccessful in the developing world. Aside from challenges that have social, economic, financial, institutional and environmental dimensions, technology transfer has generally been misunderstood, and largely seen as mere delivery of high tech equipment from developed to developing countries or within the developing world from R&D institutions to society. Technology transfer entails much more, including, but not limited to: entire systems and their component parts, know-how, goods and services, equipment, and organisational and managerial procedures. Means to facilitate the successful transfer of energy technologies, including the sharing of lessons are subsequently extremely important for developing countries as they grapple with increasing energy needs to sustain adequate economic growth and development. Improving the success of technology transfer is an ongoing process as more projects are implemented, new problems are encountered and new lessons are learnt. Renewable energy is also critical to improve the quality of lives of the majority of people in developing countries. In rural areas energy is primarily traditional biomass. The consumption activities typically occur in an inefficient manner, thus working against the notion of sustainable development. This paper explores the implementation of technology transfer in the developing world (sub-Saharan Africa). The focus is necessarily on RETs since most rural energy initiatives are RETs-based. Additionally, it aims to highlight some lessons drawn from the cited RE projects and identifies notable differences where energy technology transfer was judged to be successful. This is done through a literature review based on a selection of documented case studies which are judged against the definition provided for technology transfer. This paper also puts forth research recommendations that might contribute to improved technology transfer in the developing world. Key findings of this paper include: Technology transfer cannot be complete without satisfying pre-conditions such as: affordability, maintenance (and associated plans), knowledge and skills transfer, appropriate know how, ownership and commitment, ability to adapt technology, sound business principles such as financial viability and sustainability, project management, relevance and many others. It is also shown that lessons are learnt in both successful and unsuccessful projects.

Keywords: Technology transfer, technology management, renewable energy, sustainable development.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1631

Authors: Huei-Wen Lin

Abstract:

This study explored the relationship between psychological traits, demographics and financial behavioral biases for individual investors in Taiwan stock market. By using questionnaire survey method conducted in 2010, there are 554 valid convenient samples collected to examine the determinants of three types of behavioral biases. Based on literature review, two hypothesized models are constructed and further used to evaluate the effects of big five personality traits and demographic variables on investment biases through Structural Equation Model (SEM) analysis. The results showed that investment biases of individual investors are significantly related to four personality traits as well as some demographics.

Keywords: Behavioral finance, Big Five, Disposition effect, Herding, Overconfidence, Personality traits.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3926

Authors: Feddaoui Amina

Abstract:

This paper aimed to help researchers and international companies to the differences and similarities between IFRS (International financial reporting standards) and UK GAAP or UK accounting principles, and to the accounting changes between standard setting of the International Accounting Standards Board and the Accounting Standards Board in United Kingdom. We will use in this study statistical methods to calculate similarities and difference frequencies between the UK standards and IFRS standards, according to the PricewaterhouseCoopers report in 2005. We will use the one simple test to confirm or refuse our hypothesis. In conclusion, we found that the gap between UK GAAP and IFRS is small.

Keywords: Accounting, UK GAAP, IFRS, similarities, differences.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3578

Authors: D. Jakovčević, M. Mihelja Žaja

Abstract:

This paper provides an analysis of the insurance cycle in the Republic of Croatia and whether they are affected by catastrophic losses on a global level. In general, it is considered that insurance cycles are particularly pronounced in periods of financial crisis, but are also affected by the growing number of catastrophic losses. They cause the change of insurance cycle and premium growth and intensification and narrowing of the coverage conditions, so these variables move in the same direction and these phenomena point to a new cycle. The main goal of this paper is to determine the existence of insurance cycle in the Republic of Croatia and investigate whether catastrophic losses have an influence on insurance cycles.

Keywords: Catastrophic loss, insurance cycle, premium, Republic of Croatia.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2097

Authors: Shu-Hsien. Liao, Chi-Chuan. Wu, Da-Chian. Hu, Guang An. Tsuei

Abstract:

This study investigates the roles of knowledge acquisition, absorptive capacity, and innovation capability in finance and manufacturing industries. With 362 valid questionnaires from manufactures and financial industries in Taiwan, we examine the relationships between absorptive capacity, knowledge acquisition and innovation capability using a structural equation model. The results indicate that absorptive capacity is the mediator between knowledge acquisition and innovation capability, and that knowledge acquisition has a positive effect on absorptive capacity.

Keywords: Absorptive capacity, knowledge acquisition, innovation capability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2521

Authors: Promise A. Azor, Avievie Igodo, Esabai M. Ase

Abstract:

The paper merged the return of premium clause and voluntary contributions to investigate retirees’ investment plan in a defined contributory (DC) pension scheme with a portfolio comprising of a risk-free asset and a risky asset whose price process is described by geometric Brownian motion (GBM). The paper considers additional voluntary contributions paid by members, charge on balance by pension fund administrators and the mortality risk of members of the scheme during the accumulation period by introducing return of premium clause. To achieve this, the Weilbull mortality force function is used to establish the mortality rate of members during accumulation phase. Furthermore, an optimization problem from the Hamilton Jacobi Bellman (HJB) equation is obtained using dynamic programming approach. Also, the Legendre transformation method is used to transform the HJB equation which is a nonlinear partial differential equation to a linear partial differential equation and solves the resultant equation for the value function and the optimal distribution plan under logarithm utility function. Finally, numerical simulations of the impact of some important parameters on the optimal distribution plan were obtained and it was observed that the optimal distribution plan is inversely proportional to the initial fund size, predetermined interest rate, additional voluntary contributions, charge on balance and instantaneous volatility.

Keywords: Legendre transform, logarithm utility, optimal distribution plan, return clause of premium, charge on balance, Weibull mortality function.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 183

Authors: Makkia, Ahmad, Al-Falahi, Abdullah Abdelaziz Muharram

Abstract:

Healthcare workers (HCWs) in Yemen are exposed to a myriad of occupational health hazards, including biological, physical, ergonomic, chemical and psychosocial hazards. HCWs operate in an environment that is considered to be one of the most hazardous occupational settings. The current study aimed to assess sng the prevalence of ‎occupational health hazards among Health care workers and associated ‎risk factors in public hospitals in Sana'a City, Yemen. Descriptive cross-sectional design was utilized; out of 5443 totals of HCWs 396 were selected by multistage sampling technique was carried out in the public hospitals in Sana'a city, Yemen. More the half (60.6%) of HCWs were aged between 20-30 years, 50.8% were males, 56.3% were married, and 45.5% had a diploma qualification, while 65.2% of HCWs had less than 6 years of experience. The results show a high prevalence of occupational hazards (99%); ergonomic hazards (93.4%), biological hazards (87.6%), psychosocial (86.65%), physical hazards (83.3%), and chemical hazards (73.5%). There were no statistically significant differences between demographic characteristics and the prevalence of occupational hazards (p > 0.05). The study revealed that occupational hazards were highly prevalent among the participants. The most common biological hazard was exposure to sharp-related injuries, while the predominant physical hazard was slip, trip, and fall incidents. Ergonomic hazards manifested as back or neck pain during work. Chemical hazards were represented by allergic reactions to medical gloves powder. Psychosocial hazards included experiencing verbal and physical harassment. In conclusion, the study emphasized the importance of raising awareness among HCWs and conducting training courses to prevent occupational hazards.

Keywords: Health workers, occupational hazard, prevalence, risk factors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 121

Authors: Siti Nor Hafizah binti Mohd Zaid, Mohamed Abdel-Maguid, Abdel-Hamid Soliman

Abstract:

An Advance Driver Assistance System (ADAS) is a computer system on board a vehicle which is used to reduce the risk of vehicular accidents by monitoring factors relating to the driver, vehicle and environment and taking some action when a risk is identified. Much work has been done on assessing vehicle and environmental state but there is still comparatively little published work that tackles the problem of driver state. Visual attention is one such driver state. In fact, some researchers claim that lack of attention is the main cause of accidents as factors such as fatigue, alcohol or drug use, distraction and speeding all impair the driver-s capacity to pay attention to the vehicle and road conditions [1]. This seems to imply that the main cause of accidents is inappropriate driver behaviour in cases where the driver is not giving full attention while driving. The work presented in this paper proposes an ADAS system which uses an image based template matching algorithm to detect if a driver is failing to observe particular windscreen cells. This is achieved by dividing the windscreen into 24 uniform cells (4 rows of 6 columns) and matching video images of the driver-s left eye with eye-gesture templates drawn from images of the driver looking at the centre of each windscreen cell. The main contribution of this paper is to assess the accuracy of this approach using Receiver Operating Characteristic analysis. The results of our evaluation give a sensitivity value of 84.3% and a specificity value of 85.0% for the eye-gesture template approach indicating that it may be useful for driver point of regard determinations.

Keywords: Advanced Driver Assistance Systems, Eye-Tracking, Hazard Detection.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1621

Authors: A. Gutiérrez, A. Castillo, J.M. Gómez, J.M. Gutiérrez, A. García-Cabot

Abstract:

Lighting is not only important for the safety of traffic, but also it is very important for the protection of pedestrians. Improvement on visibility in a long distance, lighting, signing, reduces considerably the risk of accidents in crosswalks. This paper evaluates different aspects of crosswalks including signing and lighting to improve road safety.

Keywords: In pavement flashing warning lights, street lighting, signing, visibility.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1764

Authors: A. E. Mukhametov, M. T. Yerbulekova, D. R. Dautkanova, G. A. Tuyakova, G. Aitkhozhayeva

Abstract:

The accumulation of heavy metals in food is a constant problem in many parts of the world. Vegetable oils are widely used, both for cooking and for processing in the food industry, meeting the main dietary requirements. One of the main chemical pollutants, heavy metals, is usually found in vegetable oils. These chemical pollutants are carcinogenic, teratogenic and immunotoxic, harmful to consumption and have a negative effect on human health even in trace amounts. Residues of these substances can easily accumulate in vegetable oil during cultivation, processing and storage. In this article, the content of the concentration of heavy metal ions in vegetable oils of Kazakhstan production is studied: sunflower, rapeseed, safflower and linseed oil. Heavy metals: arsenic, cadmium, lead and nickel, were determined in three repetitions by the method of flame atomic absorption. Analysis of vegetable oil samples revealed that the largest lead contamination (Pb) was determined to be 0.065 mg/kg in linseed oil. The content of cadmium (Cd) in the largest amount of 0.009 mg/kg was found in safflower oil. Arsenic (As) content was determined in rapeseed and safflower oils at 0.003 mg/kg, and arsenic (As) was not detected in linseed and sunflower oil. The nickel (Ni) content in the largest amount of 0.433 mg/kg was in linseed oil. The heavy metal contents in the test samples complied with the requirements of regulatory documents for vegetable oils. An assessment of the health risk of vegetable oils with a daily consumption of 36 g per day shows that all samples of vegetable oils produced in Kazakhstan are safe for consumption. But further monitoring is needed, since all these metals are toxic and their harmful effects become apparent only after several years of exposure.

Keywords: Kazakhstan, oil, safety, toxic metals.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 729

Authors: S. Pechpoothong, M. Kopystecki

Abstract:

The eco-efficient use of “waste" makes sense from economic, social, and environmental perspectives. By efficiency diverting “waste" products back into useful and/or profitable inputs, industries and entire societies can reap the benefits of improved financial profit, decreased environmental degradation, and overall well-being of humanity. In this project, several material flows at Company Limited were investigated. Principles of "industrial ecology" were applied to improve the management of waste rubbers that are used in the jewelry manufacturing process. complete this project, a brief engineering analysis stream, and investigated eco-efficient principles for more efficient handling of the materials and wastes were conducted, and the result were used to propose implementation strategies.

Keywords: Rubber, ecology, waste.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3814

Authors: Ayelet Gur

Abstract:

Background: In recent years we are witnessing a welcome trend in which more children/persons with disabilities are living at home with their families and within their communities. This trend is related to various policy innovations as the UN Convention on the Rights of People with Disabilities that reflect a shift from the medical-institutional model to a human rights approach. We also witness the emergence of family centered approaches that perceive the family and not just the individual with the disability as a worthy target of policy planning, implementation and evaluation efforts. The current investigation aims to explore economic, psychological and social factors among households of families of children or adults with intellectual disabilities in Israel and to present policy recommendation. Methods: A national sample of 301 households was recruited through the education and employment settings of persons with intellectual disability. The main caregiver of the person with the disability (a parent) was interviewed. Measurements included the income and expense surveys; assets and debts questionnaire; the questionnaire on resources and stress; the social involvement questionnaire and Personal Wellbeing Index. Results: Findings indicate significant gaps in financial circumstances between households of families of children with intellectual disabilities and households of the general Israeli society. Households of families of children with intellectual disabilities report lower income and higher expenditures and loans than the general society. They experience difficulties in saving and coping with unexpected expenses. Caregivers (the parents) experience high stress, low social participation, low financial support from family, friend and non-governmental organizations and decreased well-being. They are highly dependent on social security allowances which constituted 40% of the household's income. Conclusions: Households' dependency on social security allowances may seem contradictory to the encouragement of persons with intellectual disabilities to favor independent living in light of the human rights approach to disability. New policy should aim at reducing caregivers' stress and enhance their social participation and support, with special emphasis on families of lower socio-economic status. Finally, there is a need to continue monitoring the economic and psycho-social needs of households of families of children with intellectual disabilities and other developmental disabilities.

Keywords: Disability policy, family policy, intellectual and developmental disabilities, Israel, households study, parents of children with disabilities.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 738

Authors: S. Rathilal

Abstract:

Numeracy, like Literacy is considered to be a core value of modern societies. Most higher education institutions in South Africa include being numerate as an important graduate attribute. It is argued that a suitability numerate society contributes to social justice, empowerment, financial and environmental sustainability and a lack of numeracy practices can contribute to disempowerment. Numeracy is commonly misconstrued as a basic and simple practice, similar in nature to basic arithmetic. This study highlights the complexities of higher education numeracy practices by analyzing a programme in a higher education institution in South Africa using the New Literacies Studies perspective.

Keywords: Higher Education, New Literacy Studies, Numeracy Practices.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1898

Authors: Yujun Zheng, Qin Song, Haihe Shi, and Jinyun Xue

Abstract:

There are a number of different cars for transferring hundreds of close contacts of swine influenza patients to hospital, and we need to carefully assign the passengers to those cars in order to minimize the risk of influenza spreading during transportation. The paper presents an approach to straightforward obtain the optimal solution of the relaxed problems, and develops two iterative improvement algorithms to effectively tackle the general problem.

Keywords: Influenza spread, discrete optimization, stationary point, iterative improvement

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1173

Authors: Xiaoshu Lu, Esa-Pekka Takala, Risto Toivonen

Abstract:

This paper systematically investigates the timedependent health outcomes for office staff during computer work using the developed mathematical model. The model describes timedependent health outcomes in multiple body regions associated with computer usage. The association is explicitly presented with a doseresponse relationship which is parametrized by body region parameters. Using the developed model we perform extensive investigations of the health outcomes statically and dynamically. We compare the risk body regions and provide various severity rankings of the discomfort rate changes with respect to computer-related workload dynamically for the study population. Application of the developed model reveals a wide range of findings. Such broad spectrum of investigations in a single report literature is lacking. Based upon the model analysis, it is discovered that the highest average severity level of the discomfort exists in neck, shoulder, eyes, shoulder joint/upper arm, upper back, low back and head etc. The biggest weekly changes of discomfort rates are in eyes, neck, head, shoulder, shoulder joint/upper arm and upper back etc. The fastest discomfort rate is found in neck, followed by shoulder, eyes, head, shoulder joint/upper arm and upper back etc. Most of our findings are consistent with the literature, which demonstrates that the developed model and results are applicable and valuable and can be utilized to assess correlation between the amount of computer-related workload and health risk.

Keywords: Computer-related workload, health outcomes, dynamic association, dose-response relationship, systematic analysis.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1278

Authors: Yue-Yang Chen, Hui-Ling Huang, Wan-Yu Yu, Chung-Lun Wei

Abstract:

In recent years, though, the concept of fit has been now in widespread used in strategic management research, it is in its infancy for applying fit concept to service innovation issue. Therefore, drawing on the concept of fit, this present research proposed an innovation service fit model within service innovation, market orientation, marketing strategy, and IT adoption are coexisted. The perspective of fit as covariation will be employed to test the hypothesis and identify the effects of fit. We contend that the fit among these four factors will contribution to business performance. Finally, according to the empirical data collected from manufacturing, service, and financial industry in Taiwan, meaningful findings and conclusions will be proposed and discussed.

Keywords: Service innovation, market orientation, IT adoption, marketing strategy, fit

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1645

Authors: Sansanee Sansiribhan, Anusorn Rattanathanaophat, Chirapan Nuengchaknin

Abstract:

The potential feasibility of a 9.5 MW_e capacity rice straw power plant project in Thailand was studied by evaluating the rice straw resource. The result showed that Thailand had a high rice straw biomass potential at the provincial level, especially, the provinces in the central, northeastern and western Thailand, which could feasibly develop plants. The economic feasibility of project was also investigated. The financial feasibility is also evaluated based on two important factors in the project, i.e., NPV ≥ 0 and IRR ≥ 11%. It was found that the rice straw power plant project at 9.5 MW_e was financially feasible with the cost of fuel in the range of 30.6-47.7 USD/t.

Keywords: Power plant, Project feasibility, Rice straw, Thailand.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3465

Authors: Shima Nikanjam, Badiossadat Hassanpour, Adi Irfan Che Ani

Abstract:

The design process in architecture education is based upon the Learning-by-Doing method, which leads students to understand how to design by practicing rather than studying. First-year design studios, as starting educational stage, provide integrated knowledge and skills of design for newly jointed architecture students. Within the basic design studio environment, students are guided to transfer their abstract thoughts into visual concrete decisions under the supervision of design educators for the first time. Therefore, introductory design studios have predominant impacts on students’ operational thinking and designing. Architectural design thinking is quite different from students’ educational backgrounds and learning habits. This educational challenge at basic design studios creates a severe need to study the reality of design education at foundation year and define appropriate educational methods with convenient project types with the intention of enhancing architecture education quality. Material for this study has been gathered through long-term direct observation at a first year second semester design studio at the faculty of architecture at EMU (known as FARC 102), fall and spring academic semester 2014-15. Distribution of a questionnaire among case study students and interviews with third and fourth design studio students who passed through the same methods of education in the past 2 years and conducting interviews with instructors are other methodologies used in this research. The results of this study reveal a risk of a mismatch between the implemented teaching method, project type and scale in this particular level and students’ learning styles. Although the existence of such risk due to varieties in students’ profiles could be expected to some extent, recommendations can support educators to reach maximum compatibility.

Keywords: Architecture education, basic design studio, educational method, forms creation skill.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1611

Authors: Liliana Feleagă, Niculae Feleagă, Vasile Răileanu

Abstract:

Although agriculture is an important part of the world economy, accounting in agriculture still has many shortcomings. The adoption of IAS 41 “Agriculture” has tried to improve this situation and increase the comparability of financial statements of entities in the agricultural sector. Although controversial, IAS 41 is the first step of a consistent transition to fair value assessment in the agricultural sector. The objective of our work is the analysis of IAS 41 and current accounting agricultural situation in Romania. Accounting regulations in Romania are in accordance with European directives and, in many respects, converged with IFRS referential. Provisions of IAS 41, however, are not reflected directly in Romanian regulations. With the increase of forest land transactions, it is expected that recognition and measurement of biological assets under IAS 41 to become a necessity.

Keywords: Accounting Agricultural, Biological Assets, Fair value, IAS 41

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3947

Authors: Karim Abouelmehdi, Loubna Dali, Elmoutaoukkil Abdelmajid, Hoda Elsayed Eladnani Fatiha, Benihssane Abderahim

Abstract:

The security of cloud services is the concern of cloud service providers. In this paper, we will mention different classifications of cloud attacks referred by specialized organizations. Each agency has its classification of well-defined properties. The purpose is to present a high-level classification of current research in cloud computing security. This classification is organized around attack strategies and corresponding defenses.

Keywords: Cloud computing, security, classification, risk.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2069

Authors: S. K. Balashanmugam, Padmavati Manchikanti, S. R. Subramanian

Abstract:

The question of legal liability over injury arising out of the import and the introduction of GM food emerges as a crucial issue confronting to promote GM food and its derivatives. There is a greater possibility of commercialized GM food from the exporting country to enter importing country where status of approval shall not be same. This necessitates the importance of fixing a liability mechanism to discuss the damage, if any, occurs at the level of transboundary movement or at the market. There was a widespread consensus to develop the Cartagena Protocol on Biosafety and to give for a dedicated regime on liability and redress in the form of Nagoya Kuala Lumpur Supplementary Protocol on the Liability and Redress (‘N-KL Protocol’) at the international context. The national legal frameworks based on this protocol are not adequately established in the prevailing food legislations of the developing countries. The developing economy like India is willing to import GM food and its derivatives after the successful commercialization of Bt Cotton in 2002. As a party to the N-KL Protocol, it is indispensable for India to formulate a legal framework and to discuss safety, liability, and regulatory issues surrounding GM foods in conformity to the provisions of the Protocol. The liability mechanism is also important in the case where the risk assessment and risk management is still in implementing stage. Moreover, the country is facing GM infiltration issues with its neighbors Bangladesh. As a precautionary approach, there is a need to formulate rules and procedure of legal liability to discuss any kind of damage occurs at transboundary trade. In this context, the proposed work will attempt to analyze the liability regime in the existing Food Safety and Standards Act, 2006 from the applicability and domestic compliance and to suggest legal and policy options for regulatory authorities.

Keywords: Commercialisation, food safety, FSSAI, genetically modified foods, India, liability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2219

Authors: Nadia Belu, Laurentiu M. Ionescu, Agnieszka Misztal

Abstract:

In this paper we propose a computer-aided solution with Genetic Algorithms in order to reduce the drafting of reports: FMEA analysis and Control Plan required in the manufacture of the product launch and improved knowledge development teams for future projects. The solution allows to the design team to introduce data entry required to FMEA. The actual analysis is performed using Genetic Algorithms to find optimum between RPN risk factor and cost of production. A feature of Genetic Algorithms is that they are used as a means of finding solutions for multi criteria optimization problems. In our case, along with three specific FMEA risk factors is considered and reduce production cost. Analysis tool will generate final reports for all FMEA processes. The data obtained in FMEA reports are automatically integrated with other entered parameters in Control Plan. Implementation of the solution is in the form of an application running in an intranet on two servers: one containing analysis and plan generation engine and the other containing the database where the initial parameters and results are stored. The results can then be used as starting solutions in the synthesis of other projects. The solution was applied to welding processes, laser cutting and bending to manufacture chassis for buses. Advantages of the solution are efficient elaboration of documents in the current project by automatically generating reports FMEA and Control Plan using multiple criteria optimization of production and build a solid knowledge base for future projects. The solution which we propose is a cheap alternative to other solutions on the market using Open Source tools in implementation.

Keywords: Automotive industry, control plan, FMEA.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2865

Authors: Manfred Szerencsits, Christine Weinberger, Maximilian Kuderna, Franz Feichtinger, Eva Erhart, Stephan Maier

Abstract:

Cover or catch crops have beneficial effects for soil, water, erosion, etc. If harvested, they also provide feedstock for biogas without competition for arable land in regions, where only one main crop can be produced per year. On average gross energy yields of approx. 1300 m³ methane (CH₄) ha^-1 can be expected from 4.5 tonnes (t) of cover crop dry matter (DM) in Austria. Considering the total energy invested from cultivation to compression for biofuel use a net energy yield of about 1000 m³ CH₄ ha^-1 is remaining. With the straw of grain maize or Corn Cob Mix (CCM) similar energy yields can be achieved. In comparison to catch crops remaining on the field as green manure or to complete fallow between main crops the effects on soil, water and climate can be improved if cover crops are harvested without soil compaction and digestate is returned to the field in an amount equivalent to cover crop removal. In this way, the risk of nitrate leaching can be reduced approx. by 25% in comparison to full fallow. The risk of nitrous oxide emissions may be reduced up to 50% by contrast with cover crops serving as green manure. The effects on humus content and erosion are similar or better than those of cover crops used as green manure when the same amount of biomass was produced. With higher biomass production the positive effects increase even if cover crops are harvested and the only digestate is brought back to the fields. The ecological footprint of arable farming can be reduced by approx. 50% considering the substitution of natural gas with CH₄ produced from cover crops.

Keywords: Biogas, cover crops, catch crops, land use competition, sustainable agriculture.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1293

Authors: Davinder Singh, Jaimal Singh Khamba, Tarun Nanda

Abstract:

The importance of MSMEs in India became crucial in rural areas because it promoted economic growth. MSMEs play a significant role in the economic growth of the country owing to production, exports and employment. Technology development reflect a critical way in which organization respond to either technological or market challenges. The present survey examines the characteristics of technology development in MSMEs. The results show that Indian MSMEs do not co-operate with universities and R&D institutes. Government policies also affect the technology development activities. The awareness about the R&D infrastructure is very low as shown by the results in the study. There is a need to understand and assess the real needs of the MSMEs and accordingly devise approaches that ensure their sustainable growth.

Keywords: MSMEs, technology development, networks, financial management and R&D infrastructure.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2718

Authors: Ahmed Sakr Ashour, Hoda Saad AboRemila

Abstract:

An attempt was made to fill the gap in the macro analysis of corruption by suggesting a conceptual framework that differentiates four types of macro corruption: state capture, political, bureaucratic and financial/corporate. The economic consequences or forward linkages (growth, inclusiveness and sustainability of development) and macro institutional determinants constituting the backward linkages of each type were delineated. The research implications of the macro perspective and proposed framework were discussed. Implications of the findings for theory, research and reform policies addressing macro corruption issues were discussed.

Keywords: Economic growth, Inclusive growth, macro corruption, sustainable development.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 829

Authors: Mustafa M. Donma, Orkide Donma

Abstract:

Cardiovascular (CV) pathology is one of the expected consequences of excessive fat gain. The role of zinc (Zn) in thyroid hormone metabolism (THM) is a matter of debate. Both thyroid stimulating hormone (TSH) and Zn levels are subject to variation in obese individuals. Zn participates in THM. It is closely related to TSH. Since thyroid hormones are required for Zn absorption, hypothyroidism can lead to Zn deficiency and vice versa. Zn exhibits protective effects on CV health and it is inversely correlated with CV markers in childhood obesity. The association between subclinical hypothyroidism (SCHT) and metabolic disorders is under investigation due to its clinical importance. SCHT is defined as the elevated serum TSH levels in the presence of normal free thyroxin (T4) concentrations. The aim of this study is to evaluate the associations between TSH levels and Zn concentrations in SCHT cases detected in morbid obese (MO) children with and without metabolic syndrome (MetS) [(MOMetS+ and MOMetS-)], respectively. 42 children were present in each study group. Informed consent forms were obtained. Tekrdag Namik Kemal University Faculty of Medicine Non-Interventional Clinical Investigations Ethical Committee approved the study protocol. World Health Organization criteria were used for obesity classification. Children with age and sex-dependent body mass index percentile values above 99 were defined as MO. Children exhibiting at least two of MetS criteria were included in MOMetS+ group. Elevated fasting blood glucose, elevated triglycerides (TRG)/decreased high density lipoprotein-cholesterol (HDL-C) concentrations, elevated blood pressure values in addition to central obesity were listed as MetS criteria. Anthropometric measures were recorded. Routine biochemical analyses were performed. In MOMetS- group 13, in MOMetS+ group 15 children were with SCHT. Statistical analyses were performed. p < 0.05 was accepted as statistically significant. In MOMetS- and MOMetS+ groups, TSH levels were 4.1 ± 2.9 mU/L and 4.6 ± 3.1 mU/L, respectively. Corresponding values for SCHT cases were 7.3 ± 3.1 mU/L and 8.0 ± 2.7 mU/L. Free T4 levels were within normal limits. Zn concentrations were negatively correlated with TSH levels in both groups. Significant negative correlation calculated in MOMetS+ group (r = -0.909; p < 0.001) was much stronger than that found in MOMetS- group (r = -0.706; p < 0.05). This strong correlation (r = -0.909; p < 0.001) calculated for cases with SCHT in MOMetS+ group was much lower in the same group (r = -0.793; p < 0.001) when all cases were considered. In conclusion, the presence of strong correlations between TSH and Zn in SCHT in both MOMetS- and MOMetS+ groups have pointed out that MO children were under the threat of CV pathologies. The detection of the much stronger correlation in MOMetS+ group in comparison with the correlation found in MOMetS- group was the indicator of greater CV risk due to the presence of MetS. In MOMetS+ group, correlation in SCHT cases found higher than correlation calculated for all cases confirmed much higher CV risk due to the contribution of SCHT.

Keywords: Cardiovascular risk, child morbid obesity, subclinical hypothyroidism, zinc.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 210

Authors: Ivan Lovrinović, Gordana Kordić, Martina Nakić

Abstract:

There are little subjects in macroeconomics that are so widely discussed, but at the same time controversial and without a clear solution such as the choice of exchange rate regime. National authorities need to take into consideration numerous fundamentals, trying to fulfil goals of economic growth, low and stable inflation and international stability. This paper focuses on the countries of ex- Yugoslavia and their exchange rate history as independent states. We follow the development of the regimes in 6 countries during the transition through the financial crisis of the second part of the 2000s to the prospects of their final goal: full membership in the European Union. Main question is to what extent has the exchange regime contributed to their economic success, considering other objective factors.

Keywords: European Union, exchange rate regime, ex- Yugoslavia countries

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1940