Managing Financial Systems in the Hospitality Industry Essay

Managing Financial Systems in the Hospitality Industry - Essay Example This essay stresses that financial statement appraises the company’s owners of the financial standing of the firm. Based on this the organization takes decisions, which affect both the profitability and the risk of the firm’s operations. In the hospitality industry, management accounting system (MAS) gives an evaluation of the performance. Financial statements help to monitor business performance and analyze statement relevant to investment decisions. There is more emphasis now on risk assessment and non-financial performance measures. This paper makes a conclusion that Market analysis gives details of competition, and expected business based on macro and micro factors. It takes into account the country’s economy, the reasons for recessions and downslide and the resultant impact on the business proposed. The projections of sales and profitability can only be made once the revenue per customer is estimated. Market segmentation further helps to get a realistic picture. The value of the company is determined by the analysts and the capital market by discounting the present value of the future cash flows that will be generated by the company’s operations. The assets and liabilities also change in value over time. The revaluations are fixed with reference to either the stock market or the real estate market. In the case of the hospitality industry it is related to the real estate market. The financial analysts also deal separately with the assets and liabilities.

Policy Critique New Jersey use of force Essay Example | Topics and Well Written Essays - 1250 words

Policy Critique New Jersey use of force - Essay Example The policy is legally sufficient based on the US Department of Justice guidelines and the concepts of the reasonable man and belief. While the policy encourages other officers to intervene to stop excessive force, the policy places no legal requirement that they do so. This portion may conflict with state and federal laws that require the intervention to prevent a deadly crime that is in progress. The policy on less-lethal ammunition creates a new category for the use of force that resides above mechanical force and below deadly force. While the policy comprehensively defines less-lethal ammunition and the situations where it may be allowed, the use of the word 'non-imminent' may become problematic, Courts may view the term as too vague as it opens up the opportunity to be defined as anytime in the future. The New Jersey Use of Force Advisory Committee is charged with formulating a policy that serves as a guideline for police that are faced with a situation that calls for the use of force. Well-armed criminals and new technologies have placed the police at greater risk and necessitated the need to be able to determine an appropriate level of force. Non-lethal technologies have also given the police greater options that must be considered when confronted with a dangerous, and possibly deadly, situation. This paper will examine the current policy in light of its strengths and weaknesses. It will evaluate its legal sufficiency and evaluate the recent less-lethal ammunition report of 2008. The New Jersey Attorney General's Use of Force Policy has its foundation in the principle that "the degree of force employed in any situation should be only that reasonably necessary" and officers should use "only that force which is objectively reasonable" (Office of the New Jersey Attorney General, 2000, p.1). As a guideline to making a reasonable judgment on the use of force, the level of force is categorized in escalating levels from constructive authority to deadly force. The policy uses examples of each type of force and provides a definition for each category. The use of deadly force may only be used to protect an officer or the public from the imminent danger of death or serious injury (Office of the New Jersey Attorney General, 2000, p.5). Deadly force can be used on a fleeing suspect when the suspect has caused death or bodily harm and the officer believes that the suspect poses an imminent threat (Office of the New Jersey Attorney General, 2000, 5). The legal sufficiency f or these guidelines, and the use of deadly force, is founded in 42 U.S.C. 14141, which makes it unlawful for "local law enforcement officers to engage in a pattern or practice of conduct that deprives persons of rights protected by the Constitution" (Addressing police misconduct, 1999). While this has a solid legal foundation, its weakness lies in the reliance on the officer to make a snap judgment based on the interpretation on 'imminent'. The State's Attorney General or the US Department of Justice addresses complaints of police misconduct regarding deadly force. The policy further implements an obligation on other officers to be pro-active to reduce or eliminate the use of excessive force. Deadly force cannot be used against