Definition and Examples of RAS Syndrome

RAS syndrome is a humorous initialism for Redundant Acronym [or Abbreviation] Syndrome syndrome: the (redundant) use of a word thats already included in an acronym or initialism. Also known as  PNS syndrome (PIN number syndrome syndrome) and acronym-assisted pleonasm. Common examples of RAS syndrome include  PIN number (personal identification number number),  AC current (alternating current current) and HIV virus (human immunodeficiency virus virus).  Such redundancies, says Bryan Garner, may be passable in speech—especially with unfamiliar acronyms—[but] they should be avoided in formal writing (Garners Modern American Usage, 2009). The term RAS syndrome first appeared in the magazine New Scientist (May 26, 2001). Examples and Observations LCD display for liquid crystal display displayCNN network for Cable News Network networkRAM memory for random-access memory memoryRSI injury for repetitive strain injury injury  SARS syndrome for severe acute respiratory syndrome syndromeMVUE estimator for minimum-variance unbiased estimator estimatorCMS system for content management system systemBBC corporation for British Broadcasting Corporation corporationIRA account for individual retirement account accountPCR reaction for  polymerase chain reaction reaction Redundancies Everywhere You Look I overheard part of your ATM story and I just couldnt let it go by. Do you know what ATM stands for?Of course. Automated teller machine.He went to college, Robin said.Okay, how about PIN?You mean as in PIN number?Aha! she exclaimed again. Now do you see it? The bartender brought her drink and she took a careful sip, then came back to them. You said you were at the ATM machine and forgot your PIN number. The automated teller machine machine and the personal information number number. Redundancies everywhere you look.(John Lescroart, The Hunter. Dutton, 2012) Reply RSVP The request reply RSVP is pretty much the same thing as youre being asked to reply twice. . . . [T]he word Sahara means great desert in Arabic (via Tuareg), so referring to that big, hot, sandy place in North Africa as the Sahara Desert is totally tautological, meaning as it does great desert desert.(Roger Horberry, Sounds Good on Paper: How to Bring Business Language to Life. Bloomsbury, 2010) The Lighter Side of RAS Syndrome Sidney Cochran: I am going to bed. We have a 10 a.m. plane to catch in the morning.Diana Barrie: 10 a.m. is the morning. That is redundant, you A.H.(Michael Caine and Maggie Smith in California Suite, 1978)

Introduction to Entrepreneurship - 3303 Words

Chapter 1 Introduction to Entrepreneurship 1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via: A) payments from companies that offer gift cards for displaying their cards on the site B) the direct sale of gift cards displayed on its site C) monthly subscription fees D) online advertising E) earning an affiliate fee for gift card purchases that originate from its site 2) Which of the following was not a contributing factor to GiftZip s early success? A) It was becoming increasingly affordable to launch an online business. B) positive PR C) angel investor funding D) People were becoming increasingly comfortable buying online. E) The gift card market was growing. 3) According to the†¦show more content†¦A) the ability to stick to a plan even when faced with evidence that changes are needed B) a willingness to work hard for an extended period of time C)Show MoreRelatedEntrepreneurial Ecosystem in Academic Organization827 Words   |  3 PagesCHAPTER 1 :INTRODUCTION INTRODUCTION 1.1 Introduction This chapter consists of seven sections. The first section explains the background of study. The second section contains the statement of the problem of this study whereas the third section stated the research objectives. The scope of this study is explained in the fourth section while the limitation of the study is explained in the fifth section. Then, the significant of the study are shown in the sixth section and the conclusion isRead MoreEntrepreneurship Risk, Rewards, And Reality1456 Words   |  6 Pagesgone because of entrepreneurship. In the article â€Å"Entrepreneurship Risk, Rewards, and Reality† by Timothy W. Scales, the author goes over key points about small business like development, growth, and secession. Scales focus on experiences that relate to an accomplished and an unaccomplished entrepreneur. Scales say that if an idea can become entrepreneurial, it can be big or small. Entrepreneurship is the key to innovation and growth. Since the 1970s, scholars k new that entrepreneurship was the sourceRead MorePrinciples Of Business Management Assignment Unit One1231 Words   |  5 Pages September nine, 2017 Introduction Based on the unit one assignment directions I even have revised the reading chapter of the given text book concerning the definitions of leadership, entrepreneurship, and strategy in section two of chapter one within the text. At the same time using, the net given needed to seek out to see the different definitions of leadership, entrepreneurship, and strategy. The three definitions similarities and what square measuresRead MoreResource Based View of Social Entrepreneurship: Puting the Pieces Together813 Words   |  3 Pages INTRODUCTION The emerging field of social entrepreneurship calls for a need for new integrated theories to contribute to the discipline and help grow the field. Social Entrepreneurship has been a topic of academic interest for the past few decades; however there has been little scholarly output in mainstream journals (Short, Moss, Lumpkin 2009). Social entrepreneurship is commonly defined as â€Å"entrepreneurial activity with an embeddedRead MoreA Study On Female Entrepreneurs1487 Words   |  6 PagesChapter 1 Introduction The main aim of this study is to explore how female entrepreneurs have managed to open new ventures and also coping with the entrepreneurial system in the UK. Initially, women want to be part of the entrepreneurship activities and studies shows that the rate of women entrepreneurs is increasing (Brush et al, 2006). Gender discrimination is no longer a taboo in this twentieth century (Butler, 2003). 1.1 Research background In today’s business world, entrepreneurship is fundamentalRead MoreThe Human Society in the Present Times and Wealth1199 Words   |  5 Pagessituated- means to acquire wealth has become somehow the holy grail of the society. As the front-liner topic in business research, many studies are done in the field of entrepreneurship with substantial liking and support. Alongside the vast topic of entrepreneurship, one of the most regarded is the aspect of social entrepreneurship and the advances of this discipline. The discourse community in this industry is geared to see trends and analyze information from existing business systems. They createRead MorePrinciples Of Business Management Assignment Unit One1274 Words   |  6 PagesSeptember 9, 2017 Introduction Based on the unit one written assignment instructions I have revised the reading chapter of the given text book about the definitions of leadership, entrepreneurship, and strategy in section two of chapter one in the text. Simultaneously used the internet given required to find different definitions of leadership, entrepreneurship, and strategy, all three definitions, what management similarities can you seeRead MoreThe Promise of Entrepreneurship as a Field of Research638 Words   |  3 PagesPROMISE OF ENTREPRENEURSHIP AS A FIELD OF RESEARCH 1.0 Introduction To date, the phenomenon of entrepreneurship has lacked a conceptual framework. A research has been conducted in the difference social science disciplines and applied fields of business to create a conceptual framework for entrepreneurship. 2.0 Definition of Entrepreneurship Entrepreneurship is defined solely by the researchers in terms of who the entrepreneur is and what he or she does. The study of entrepreneurship must involveRead MoreRelationship Between Entrepreneurship And The Economic Development Essay1091 Words   |  5 PagesBUSINESS RESEARCH METHODS Introduction This research seeks to establish the relationship between entrepreneurship and the economic development in Saudi Arabia. Entrepreneurship is the process of managing, organizing and developing a business venture in a competitive environment that is dynamic (Kuratko 2016 pp3). An entrepreneur is an inventor, leader, innovator, and pioneer and most significantly, a performer. The heart of a national advantage is often pegged on entrepreneurship. The operation of anRead MoreTheories of Entrepreneurship1647 Words   |  7 PagesIntroduction Entrepreneurship is a phenomenon that is driving the world economy today and aptly so because entrepreneurship is the process of creating economic and social value by means of taking risks, creating and exploiting opportunity and generating new ideas. Entrepreneurship is all pervasive and can exist in any industry and market. Also, entrepreneurship is not limited to creating new ventures; entrepreneurship also exists in large corporations like Google and 3M where employees are encouraged

Auditing Of Mayne Parma Group Limited †MyAssignmenthelp.com

Question: Discuss about the Auditing Of Mayne Parma Group Limited. Answer: Introduction Mayne Parma Group Limited is a pharmaceutical company. The company is listed in the Australian Stock Exchange. The management of the company which is more focused on applying its expertise on commercializes branded and generic pharmaceuticals. The company apart from its core activities is also involved in providing manufacturing and contract development services to more than 100 clients all across the globe. The company is more Technology driven and has a strong product portfolio and with number of products in pipeline. Distribution channel of the company is very strong with its distribution partners scattered all across the globe including Australia, North America, Asia, Europe etc. The company employs more than 200 scientists with 750 local stuff to cater its need. The company in the last 30 years has gained success in developing new oral drug delivery systems. This technology has been successfully commercialized in number of products which has been successfully marketed all across the globe. The pharmaceutical companies in Australia includes biotechnology firms, companies providing generic medicines, biomedical Research and other service related segments which includes distribution and wholesaler. These companies are also indulged exporting medicines on across the globe. As a result of which pharmaceutical is one of the largest manufacturer exports from Australia. The Pharmaceutical industry in Australia has been considered as the most growing industry in the country. The Australian pharmaceutical market has been considered as one of the most competitive market in the country. There have been significant advancements in terms of Technology that has been taken place in the country the recent years. In the last few years, there has been major reforms increase the number of scrutiny from number of payers, regulators and from various communities. In this situation, he pharmaceutical companies operational in Australia is required to go through revision of their business model to remain responsive in the market. (Pharma, n.d.) Despite of all this fact it has been argued that the pharmaceutical industry in Australia is not doing well as what is expected from them. In spite of developing new improved live saving and life improving drugs, we are unable to meet out the expectation that the stakeholders and shareholders has on the company. The pharmaceutical companies in Australia not working efficiently and effectively that they could have been in normal circumstances. There has been global transformation in terms of technology and in the healthcare industry which has shown positive path to the pharmaceutical companies in Australia to prosper and grow.(PWC, n.d.) Legislative requirements for Pharmaceutical companies It is important for every industry to get regulated by some of the other regulations. These regulations can be imposed on them either by the government or buy some of the regulatory authority that has been set up by the government itself. The Pharmaceutical industry in Australia is also bound by some of the regulations that have directly or indirectly been imposed on them by the government. These regulations are important being they guide the companies to function within the core limits that have been approved for them. Therapeutic Goods Act 1989: The Therapeutic Goods Act 1989, who provides information about the export, import, supplier, manufacturing of Therapeutic Goods in Australia. This act provides further information about the products which includes labeling, advertisement and appearance of the medical product. As per the provisions of this act, all medicines, medical devices and biological products are required to be registered at Australian Register of Therapeutic Goods (ARTG). Through the help of the regulations provided under this act, government can exercise proper control worthy over the Therapeutic Goods. Further, the government facilitates control over trades between the states and territories. This has been done with the intention to provide benefits to the ultimate customer. The regulations and orders under the act are subject to change based on the current day requirements.(TGA, n.d.) Corporation Act 2001: The financial statements of the company are required to be prepared in accordance with the requirements provided by the Corporation Act 2001. The financial statements of the company are required to abide by the Australian accounting standards and other pronouncements that has been made by the Australian accounting standard board. The financial statements are also required to comply with requirements of international financial reporting standards. Australian pharmaceutical industry codes: Medical industry in Australia is regulated by number of codes. There has been a separate industry body named as Medicines Australia which takes care of the coding of the medicine. This body has its own code of practice "the Medicines Australia Code of Conduct". This code of ethics provides information about the marketing strategies and promotional techniques that can be used by the companies at times of promoting their medicines in the market. The code of practice provide by the body compliments the regulations provided in the Therapeutic Goods Act 1989. There are basically two types of medicines prescribed medicines and the other one is a non prescribed medicine. The above code of practice applies only to the prescribed medicines.(Group, n.d.) Health Practitioner Regulation National Law (ACT) Act 2010: This act provide information about the registration of pharmaceutical companies nationwide. This app has been set up to provide consultancy all across the nation in relation to education practice and registration of pharmaceutical companies.(Pharmatips, n.d.) Company Analysis In order to test the financial health of a company, it is important to analyze the balance sheet, profit and loss account and cash flow statement of the company. The balance sheet provides information about the financial position of the company whereas the profit and loss account provides information about the financial performance of the companies in the current year. On the other hand the cash flow statement will provide information about the moment can cash that has been taken place in the company in the current year. Mayne Parma Group Limited (MPG) is a pharmaceutical company which is listed in Australian Stock Exchange. In the year ended 2016 there are certain line items in the balance sheet and profit and loss account which has witnessed a significant movement as compared to last year. Line items from the balance sheet that has witnessed significant movement as compared to last year are as follows: The other current assets head in balance sheet has reached down to $888 million in the year 2016 as compared to $5 million in the year 2015. There has been a huge increase in the other assets numbers when it is compared to the prior year. The Other current assets head majorly includes prepayment assets. There has been an approx 100% prepayment asset in the year 2016 as compared to the prior year. There has been an additional new line item "Contract rights relating to the Teva transaction settled post year-end" amounting to $876 million which has driven all movement in other current assets. The company has entered into an agreement of acquiring 42 new products from Teva Pharmaceutical Industries Limited (Teva) and Allergan plc (Allergan). Company for the year ended 30th June 2016 is recognized rights and obligations under the contract The Trade receivables of the company has increased 100% in the year ended 2016 as compared to the prior year. Increase witnessed in the trade receivables of the company is in line with increasing sales numbers. Out of the balance recognized on 30th June 2016 in trade receivables more than 95% of the balance is below the threshold limit that the company has set up for booking provisions for doubtful debts. The collection procedure of the company is also very strong. The fight this is very evident from the fact that the receivable turnover ratio of the company has come down to 3.22 in the year ended 30th June 2016. The fixed assets of the company include land, buildings plant and equipments and capital under construction. There has been a 40% increase in the gross block of the company in terms of the fixed assets. The major movement has been witnessed in the capital under construction head for the fixed assets. The company has been making huge Investments in its capital projects which show that the company is on the verge of growth and is expecting to capture huge market going forward. Further, there has been approx 20% increase in the plant and equipment hand for the fixed assets in the current year. The Other liabilities of the company include other payable. For the financial year ended 30th June 2015 the other liabilities balance was close to $8 million. In the current financial year ended 30th June 2016 there has been an additional line item "Settlement obligation in relation to the Teva transaction" which has increased The Other liabilities balance by $876 million. Just liability has been booked in account majorly on account of an agreement that has been entered by Teva Pharmaceutical Limited 42 new products. The company has acquired its liabilities that were settled on 3rd August 2016. Thus, because pending liability worth 876 million dollars was booked in account for 30th June 2016 that was settled 3 days after the year end. The Intangible assets and goodwill the company has witnessed an increase of approx 10%. This was majorly on account of increase in development expenditure for the company worth 22 million dollars in the current financial year ending 30th June 2016. There has been addition worth 18 million dollars in the Intellectual Property Rights section. The revenue numbers of the company includes sale of goods, sale of services, license fees income and royalty income. Major League 95% of the sales numbers are contributed by sale of goods and sale of services. There has been approx 35% increase in the sale of service numbers. On the other hand, in case of sale of goods, the sales numbers has increased by approx 115%. This is majorly on account of increased promotional an advertisement activities that has been carried out by the company. Further, the company has launched certain you life saving and life improvement drugs which has increased its sales. Even the gross profit ratio of the company has increased from 56% to 62% in the year ended 30th June 2016. The sales and other general administrative expenses have increased considerable e in the current year ending 30th June 2016. This is majorly on account of increase in sales numbers. Majorly the numbers have increased in the salary and wages expenses and other salary related expenses for the company. Amortization of intangible assets numbers have also increased by 100% in the current year. The cost of revenue numbers of the company has increased considerable in the current year ending 30th June 2016. The increase in cost of revenue numbers is in line with the increase in the revenue numbers of the company. However, the company has shown a sign of improvement where the cost of revenue numbers in percentage to the sales has improved. The cost of sales percentage numbers to sales has improved from 43% to 37%. The net cash from Operating activities has witnessed an increase approx 150%. This is majorly on account of increase in receipt from customers. However company has paid increased tax and interest cost but because of increasing the reset receipt from customers, overall the net cash flow from operating activities has increased. The net cash flow from financing activities has decreased considerable in the current year ending 30th June 2016. This was majorly on account of proceeds received from shares in the last year which was being used in making payment of borrowings that has been made by the company. Overall there was a net cash inflow from financing activities worth 115 Million dollars. In the current year ending 30th June 2016 there was no such transactions, resulting in an overall increase in the net cash inflow from financing activities for 18 million dollars. Business Risk The Pharmaceutical companies because of their very nature are subject to various kinds of business risk. This business risk may sometimes let to material misstatement in the financial statements. In the current scenario, there have been continuous technological changes that have taken place on across the globe. As a result of which, there is a possibility that the plant and machinery that has been acquired by company in a particular year may become obsolete in few years as compared to what has actually been depreciating in the books. In this case, the plant and machinery numbers that has been replicating in the balance sheet of the companies may not replicate a true picture and may lead to material misstatement. It is important for a pharmaceutical company to maintain low inventory levels. There might always be a possibility that the inventory that the company is holding become obsolete because of its expiry. In the situation it is important for the company to have a clear demarcation among the inventory levels. Thus, having huge inventory maybe a business risk for the company and can even lead to material misstatement. This sales number for the company includes the sale of medicines that has been made to the wholesalers. This is made by the pharmaceutical companys book with an impression that if the expiry of the goods or medicines the goods has been sold to the ultimate consumer the same will be returned back to the company. In this scenario, management of the pharmaceutical company is required to make necessary provision in the books for the returned medicines. In this case there is a hello, possibility that the sales numbers of the company are inflated and may let to material misstatements in the financial statements of the company. The company while determining the intangible assets valuation includes the amount that has been spends on development and research work. The amount so spent on development and Research what is amortized over the period of time. In case of the Mayne Parma Group Limited (MPG), the company in the current year ending 30th June 2016 has booked research and development work worth 22 million dollars. The research and development work pertains to the cost of new products that are expected to be coming in the future. It is not necessary that the research work that has been carried out on a particular product or medicine has passed. Sometimes it get failed and the company is required to book the entire amount is amortization cost and is not required to carry out for a certain period of time. In pharmaceutical industry, it is quite probable that the entire research and development work that has been carried out gives positive results. Thus, in order to manipulate the current year profit numbers there might be a possibility that the company has continued to amortize the entire development and research work without determining whether any development and research work pertaining to a particular product has failed or given negative results. This may let to material misstatement in the financial statements of the company. Going Concern In situations where a company has to recall sum of its major brand products due to contamination and product tempering, the company is required to remove this product from its sales numbers for the year. In this scenario, it is important to determine the sales volume for the brands that has been returned to the company as result of contamination and product tampering. Looking at the sales numbers for the company for the current financial year, it is evident that the company is entered into number of products and medicines. In order to comment on the Going Concern ability of the company, it is important to determine the impact that these return product will have on the entire sales volume of the company. Further it has been provided the impact of these returned medicine is material, the management will test down the future viability of the company. If the return of medicines due to contamination and product tempering is one of a case and is not expected to take place in the future, it will not have any impact of the Going Concern ability of the company. Although the sales of the company for the current financial year may fell down but there is a possibility that with improved quality in the coming years the sales of those major brands which have returned in the current year may increase. However if decontamination and product tempering cannot be removed and is not an adhoc event, this might have an impact on the Going Concern ability of the company and is required to be reported every annual report by the auditors. Social Responsibility The management of Mayne Parma Group Limited (MPG) is socially very active. Management takes care of the health of the employees and ensures that the employees work in a healthy environment. They prefer making high quality products with more affordable pharmaceutical pricing. The management further focuses on acquiring raw material from quality sources and tries to meet out all regulatory standards in terms of quality for its products. They prefer complying with the human rights and do not believe forced labors and trafficking. The company has a separate based management mechanism through which they prefer meeting a byproduct rather than throwing it as a scrap. Considering the nature of industry in which the company is functioning into, it is important for an auditor to obtain confirmation from some of the external sources. In case of sustainability report, in order to test its reliability, the auditors can obtain confirmation from some of the other external sources and based on the same can rely and make statement in the auditor report. Conclusion Considering the above analysis in relation to Mayne Parma Group Limited (MPG), Bundoora Partners can accept the audit of the company. The company is fundamentally very strong and is growing every year. The company has its own reputation in the eyes of shareholders and stakeholders of the company. Bibliography Group, O.P., n.d. Australian Pharmaceutical Industry Codes. [Online] Available at: https://www.ozpharmagroup.com/Australian-pharma-industry-regulations.asp [Accessed 17 Sept 2017]. Pharma, M., n.d. About Mayne Pharma. [Online] Available at: https://www.maynepharma.com/about-us/about-mayne-pharma/ [Accessed 17 Sept 2017]. Pharma, M., n.d. Audit Report 2015. [Online] Available at: https://www.maynepharma.com/media/1305/2015-annual-report.pdf [Accessed 19 Sept 2017]. Pharma, M., n.d. Audit report 2016. [Online] Available at: https://www.maynepharma.com/media/1788/2016-mayne-pharma-annual-report.pdf [Accessed 19 Sept 2017]. Pharmatips, n.d. List of Pharmaceutical Company in Australia. [Online] Available at: https://www.pharmatips.in/Articles/Pharma-Companies/List-Of-Pharmaceutical-Company-In-Australia.aspx [Accessed 17 Sept 2017]. PSA, n.d. Legislation: Australian Capital Territory. [Online] Available at: https://www.psa.org.au/practice-support-and-tools/psa-information-framework/legislation-australian-capital-territory [Accessed 17 Sept 2017]. PWC, n.d. Challenges and Change: A report on the Australian pharmaceutical industry, PWC Australia. [Online] Available at: https://www.pwc.com.au/publications/healthcare-challenges-and-change.html [Accessed 17 Sept 2017]. TGA, n.d. About the Australian therapeutic goods legislation. [Online] Available at: https://www.tga.gov.au/about-australian-therapeutic-goods-legislation [Accessed 17 Sept 2017].