The ethical dilemmas faced in Banking

The ethical dilemmas faced in Banking Banks play important roles in the modern days society, these roles include opening accounts, save money in those accounts and have peoples money available at all times so they can take it out of their accounts. These roles also include giving out mortgages, giving out loans, savings, investments and protecting rights and interests of many depositors. Banks are expected to operate with responsibility, reliability, honesty and most of all banks should operate ethically. In 1921, in the Joachimson case a bank is defined as The bank undertakes to receive money and to collect bills for its customers account. The proceeds so received are not to be held in trust for the customer, but the bank borrows the proceeds and undertakes to repay them. The promise to repay is to repay at the branch of the bank where the account is kept, and during banking hours. It includes a promise to repay any part of the amount due against the written order of the customer addressed to the bank at the branch.. Bankers never do make a payment to a customer in respect of a current account except upon demand. A bank is an organisation, where people deposit their money to keep it secure however, this is only a small part of how a bank operates. There are different types of banks, there is the retail bank, the central bank and the investment bank. Retail banking deals directly with individuals and small businesses. Investment banking is a financial intermediary that carries out variety of services. This includes underwriting, acting as an adviser between an issuer of securities and the investing public and smooth the progress of mergers and other corporate reorganizations. Central bank is the governments banker. The central bank sets the interest rates, is the bankers bank, the lender of last resort and prints money According to Smith and Smith, (2003), Ethics is the integrity measure, which evaluates the values, norms and rules that constitute the base for individual and social relationships, from a moral perspective. Its very important for a bank to be ethical as it deal with peoples money. All banks should have social responsibilities towards their customers. Ethical dilemma is any situation where the moral principles cant determine whether the action taken is ether right or wrong. In banking there are a lot of right and wrongs. In modern day society have banks have ethical policies they have to obey. These ethical policies include human rights some banks may not invest in any businesses who fail to support basic human rights, also other ethical policies are Arms trade, social responsibility and global trade, social enterprise, animal welfare and customers consultation. These are some of the ethical policies a bank has to uphold. However, the question is do all the banks support and obey these policies? Unfortunately, ethical policies are still not firmly followed in the banking system. A lot of banks accept bribes in return for loans, still lend to cheating customers and most of all many banks are still convicted for money laundering. Nowadays the banking business is becoming more complex and the borderline between what is legitimate and illegitimate becomes more indistinct (Carse, D 1999). Therefore, banks have to stick to a strong set of ethics which will help them to get though all the ethical choices they face in everydays life. Banks make peoples live a lot easier, they do this by sorting out all the funding and transactions. Many people are not very good with money and thats when bank come into play. They help people save their money, they offer advice about mortgages and investing, they give out loans and they make it easy for people to pay their bills. Now image if banks didnt exist, there wouldnt be a place to deposit your money where it save, it would have a big impact on the economy, companies who have millions and billions of money have no where to keep this money and could be exposed to thiefs and mafia and all sorts of crimes and people would just have a much harder life without banks. So as you can banks play a very important role in modern days society. Many people, when they think of banks, they think of all the negatives things however, banks are not bad at all. Nowadays, there is no form of economy that doesnt have a banking sector. Banks enable transactions to take place without actually coins changing hands, they enable people to borrow money and today, we have the electronic transfer system which has made peoples life much easier and many now also issue stocks, bonds and other securities. Many have banks have recently introduced an ethical policy a good example of this the co-operative bank. The co-operative bank believes that by introducing an ethical policy they can invest for the long-term benefit of customers and, at the same time, as an investor they can improve their environment and society (co-operative bank 2002). Since the co-operative bank introduced the ethical policy many banks looked to pursue this policy and by doing this they will attract customers and gain more profit. Banks deal with numerous depositors, they enable people to deposit their money and keep it in a save place, they give advice on investing and mortgages, most importantly they give out loans. Giving out loans is a very risky business this is because people may not pay the money back to the bank. Basically the money people put in a bank is the money a bank uses for loans and they charge interest on that loan so when someone doesnt pay their loan the bank has to cover the loan in order to have enough money available for depositors to take out. Banks also offer overdrafts, this is where the bank provides a short term loan to pay off for example bills. Loans can be secured or unsecured, unsecured loans are when people pledge some assets such a car or property as collateral for the loan. Many people use their house as a security when they take out a loan. Now for those who dont pay the loan back the bank will take possession of the asset and maybe sell it to recover the debt. Before the bank takes possession of the asset, the bank will give the borrower reasonable notice. They dont just turn up one day and take possession of the asset. Also, a bank is unable to close a customers account without giving them reasonable notice. Reasonable notice could be two weeks or month nobody knows how long reasonable is. Is it argued that reasonable is that which is reasonable in the circumstances. So how do banks make profit? Well when people deposit their money in a bank the money doesnt just stay their. The bank will use this money to make loans. Now the amount of money a bank can lend is influenced by the reserve requirement which is set by the federal services. At the moment the reserve requirement is from 8% 10% of the banks total deposit. If we think about it the bank is using our own money to lend to other people, this might sound unfair however, this has a very positive impact on the economy because, lets say for example we go to the bank and deposit  £100, the bank will keep 10% of that amount and lend  £90. That  £90 is going to go back in the economy, purchasing goods and services or deposited in another bank. That bank will then go on and lends  £81 and keep 10%. That  £81 goes bank in the economy and goods and services are purchased or its deposited at other bank that proceed to lend a percentage of the total amount. Banks charge an interest on those lo ans and thats where some of their profit comes from. So if we just refer back to the question, Banking, an ethical dilemma? We shall see that banking is not an ethical dilemma at all. There many banking activities which have a positive affect on the economy and which make peoples live much easier. Banks do this by enabling people to deposit their money and keep that money in a safe place, they provide advice to customers, they offer long term and short term loan, provide customers with plenty of information and inform them on the consequences when not repaying a loan and they give people a reasonable notice before taking possession of their asset. As we can see there are many good processes a bank sees to. However, even though banking seems all perfect there is a dark side to banking. Banks all over the world graft to make profit. Banks make profit by using their customers money, basically how it works is we deposit our money in the bank, the will then go on and lend a big percentage of that money to other customers. Banks charge interest on the loans which is a big part of their profit. Some banks charge excessive interest rates on loans without informing their customers of better deals. Also, in the modern day society, many people complain of unfair bank charges. This is when the bank decided to charge the customer when exceeding an overdraft limit or when bouncing a cheque. These bank charges are unfair because the office of fair trading believes that charges more than  £12 are significantly higher level that is legally fair (Office for Fair Trading) Banking is becoming more and more complex and some bankers may have trouble explaining their business this may raise trust issues because if bankers dont know what their doing people wont trust banks with their money. Complexity of banking also raises the ethical dilemma issues. In modern days society many banks are guilty of ethical dilemmas. According to a study carried out by Mitchel et al (1992) there were seventeen kinds of unethical behaviour that banks were guilty off and here are a couple of them: bribery, defrauding government, interest fraud, deception, insider trading, discrimination and environmental harm. These

Horse and Depreciation Adjusted Basis

Comprehensive Problem Introduction: Betty, whose tax rate is 33%, is in the business of breeding and racing horses. Except for the transactions below, she has no other sales or exchanges and she has no unrecaptured net Sec. 1231 losses. Consider the following transactions that occur during the year: * A building with an adjusted basis of $300,000 is destroyed by fire. Insurance proceeds of $500,000 are received, but Betty does not plan to replace the building. The building was built 12 years ago at a cost of $430,000 and used to provide lodging for her employees.Straight-line depreciation has been used. * Four acres of the farm are condemned by the state to widen the highway and Betty receives $50,000. The land was inherited from her mother 15 years ago when its FMV was $15,000. Her mother purchased the land for $10,300. Betty does not plan to purchase additional land. * A racehorse purchased four years ago for $200,000 was sold for $550,000. Total depreciation allowed using the stra ight-line method amounts to $160,000. * Equipment purchased three years ago for $200,000 is exchanged for $100,000 of IBM common stock. The adjusted basis of the equipment is $120,000.If straight-line depreciation had been used, the adjusted basis would be $152,000. * An uninsured pony with an adjusted basis of $20,000 and FMV of $35,000, which her daughter uses only for personal use, is injured while attempting a jump. Because of the injury, the uninsured pony has to be destroyed by a veterinarian. Task(s): a. What amount of Sec. 1245 ordinary income must be recognized? Sold for $200,000 Depreciation adjusted basis’s of $152,000 $200,000-$152,000= $48,000 b. What amount of Sec. 1250 ordinary income must be recognized? From insurance $300,000 depreciation ordinary $430,000 300,000-430,000= -70,000 c. Will the loss resulting from the destruction of her daughter’s pony be used to determine net Sec. 1231 gains or losses? Yes d. What is the amount of the net Sec. 1231 gain or loss? There’s a loss of $15,000 e. After all of the netting of gains or losses is completed, will the gain resulting from the involuntary conversion of the building be treated as LTCG? No the building is old and it would seem not to fall into that category f. What is the amount of her unrecaptured Sec. 1250 gain? I would say zero because she never really sold anything

The New Fuss About Essay Samples Is

The New Fuss About Essay Samples Is The Upside to Essay Samples Is If you wish to create a college essay which works, you want to provide importance on the content which you will supply the admissions officer of your intended university with. There are a lot of online courses and possibilities to have a degree or unique certificates online so there's no need to study in the college. Upcoming college students might also be requested to compose a college essay for a component of their first requirements. There are lots of persuasive essay examples college students are able to make use of online. Writing of scholarship graduate essay is a really tough academic task simply because students need to demonstrate they are capable of accomplishing the task that they're applying for. College life includes writing essays and application letters whether you're in the subject of company or literature. Sure, there are times when you can ask your professor for aid. Some students find ple nty of difficulty writing the essay, even if they have the ability to locate strong points. Characteristics of Essay Samples Is The initial two paragraphs are normally the deal breakers. What's more, if you're reflecting on a specific text, make notes on our very first emotions and thoughts even though you are reading it. Beginning with interesting truth about your subject will grab the eye it needs. It's natural for students not to bear in mind all details and rules of formatting. The other important issue you are able to learn from essay samples is the information regarding formatting. It is possible to then use the information for a yardstick with which to assess the quality of your writing. Just by typing the appropriate keywords you're able to acquire different kinds of essay samples way much easily. To avoid difficulties with formatting, you are able to simply download an essay sample of a proper format and learn more about it. Read the info presented below and get to find out more about the potential places where you could come across persuasive essay samples. When you've determined the goal of your essay, you're know what information has to be included and the way that it has to be presented. The duration of your essay is not what universities start looking for. Your college essay should contain information that relate to the instruction offered to you. Before you commence writing your college essay, you may choose to see the essay examplesA that we've listed for you, so that you may have more idea on what things to put in the college essay which you will create. Just because you've already written a college essay for a single university doesn't mean that it may also apply on your next applications. Here's What I Know About Essay Samples Is The price generally changes based on the essay type. You can readily find essay writing services that may write for you at cheap prices. Disadvantages of selecting an inexpensive essay service Quality If you're opting for cheaper service, remember that it might not be up to the mark. Pros of choosing a low-cost essay service Availability Everywhere on the web, you can get one or other essay services. Let's have a peek at its advantages and disadvantages. You may download one particular paper daily free of charge, or share your own writings and find an unlimited accessibility to the paper base. You need to read the example answers to acquire ideas about what are good forms of answers and what are bad kinds of answers. Another reason that you may need easy essay examples is should you lack the knowledge and techniques necessary to finish the tasks involved. Very good samples which were written by competent professionals contain some helpful insights that might help jumpstart your undertaking. At present, the wealthiest individuals and organizations around the planet have substantial interests with the world wide web. You don't wish to write what amounts to an overview of your activities and accomplishments that you will list in different parts of the application. The system theory envisions management when it comes to the role that various components of an organization play to lead to efficient o utcomes. New Ideas Into Essay Samples Is Never Before Revealed Teenagers are especially stressed if they don't fit in a specific social atmosphere. The parents might not be in a position to supply the financial and emotional support to the kid. On the flip side, students don't have any choice except to adjust to the education systems. As a result, they can now get well-researched papers from our supervised environment.

Walt Disney Parks and Resorts - 1956 Words

Walt Disney Co. faced the challenge of building a theme park in Europe. Disney s mode of entry in Japan had been licensing. However, the firm chose direct investment in its European theme park, owning 49% with the remaining 51% held publicly. Besides the mode of entry, another important element in Disney s decision was exactly where in Europe to locate. There are many factors in the site selection decision, and a company carefully must define and evaluate the criteria for choosing a location. Global marketing strategist considers the geographical scale, cultural differences, language, and overall perspective needs; more particular decision criterion should focus specifically on the country, type of industry, the company and the†¦show more content†¦Disneyland in particular, the first park ever to construct rides, shows and attractions around separate themes–the themes of Walt Disney’s motion pictures (Wikipedia.com, 2007)–was constructed and dedicated by Walt Disney to those people who want to â€Å"relive memories of the past and [that]†¦youth may savor,† (Wikipedia.com, Disneyland, 2007). Disneyland itself was not just built to entertain young children, but also to give their parents a vacation in a place that they could remember from their pasts and relate to in a way for them to enjoy the experience. (Datamonitor, 2007, pg. 22). Building by numbers †¢ †¢ Bends in paths near entrances were designed, using advice from feng shui masters, to deter evil spirits. The park is filled with pools, lakes and water features, catering to the tradition that equates water with wealth and plenty †¢ http://www.timesonline.co.uk/tol/news/world/asia/article6902338.ece After many years, it was soon realized that the target market is not only young children, but often includes the decision makers. These are usually the parents that take their kids to the movies and buy the merchandise. Disney’s reach is global, with theme parks in China, France, Japan, and all around the United States. They also have Disney stores across the globe selling Disney consumer products throughout the United States and also globally, bothShow MoreRelatedWalt Disney Parks And Resorts Essay1046 Words   |  5 PagesIntroduction Walt Disney Parks and Resorts is a premier enterprise operating out of Florida. This organization started back in 1971 by founders Walt and Roy Disney. Walt Disney Parks and Resorts is the most visited theme park in the world. 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