Scope Ratio When Anchoring

Scope is a ratio of the length of an  anchor rode from the bit to the anchor shackle and the depth of the water under the bow of the boat measured from deck height. The anchor, shackle, rode, and bit are a few components of Ground Tackle used in anchoring a  Ã¢â‚¬â€¹Ã¢â‚¬â€¹vessel. Or, if you like formulas: SL/D where L is the length of the anchor rode and D is depth under the bow. What is the Correct Scope? The correct scope depends on several variables, but there is no need to compute this exactly. Getting close is good enough in this case. First, it might be best to explain why we want a certain ratio of scope and what will happen if the ratio is much too large or much too small. Too small is much worse than too large when it comes to scope. Different types of anchors bite into the bottom in different ways, but all have the same property of digging in when they have pulled along at a low angle in relation to the bottom structure. This dragging is what secures the anchor to the bottom. If the water is 60 feet (18 M) deep and the anchor rode is 120 feet (36 M) then the scope is 2:1 and far too small. You see, when the boat drifts and pulls the anchor with this ratio of scope it will not drag smoothly and bite in. The result is the anchor being pulled from the bottom with each small wave and bouncing along leaving the vessel far from the intended position. If the scope is too large, the anchor will bite or set into position but the vessel will most likely surge and drift as forces act on it. In this case, we will use the same water depth of 60 feet (18 M) but increase the length of the rode to 600 feet (180 M). This gives us a scope of 10:1 which is not inappropriate if winds or currents are very strong but is not the best ratio for general anchoring. The scope that is best for keeping the anchor set and keeping tension on the anchor rode is around 7:1. If we plug our numbers into the formula a water depth of 60 feet (18 M) will require a rode of 420 feet (126 M). A scope of 7:1 will not pull the anchor free but it will maintain tension for a safe and comfortable stay in the anchorage. Areas with Strong Tidal Runs If you do find yourself in an area with a strong tidal run, like you may find in some hurricane holes, it will be necessary to reset the anchor rode scope. Tides of less than three or four meters can come and go as long as the sailor takes this change into account when setting the anchor. In a big tidal run of ten or more meters, its best to lay out a fore and aft anchor and be generous with the scope. Adjustments should always be made to prevent slack and avoid collision with other vessels or obstacles. In areas of hard rock or coral, care should be taken with the first thirty feet of rode which should be abrasion resistant Kevlar jacketed line or chain. Chain provides the best protection but it can cause sharp jolts in rough conditions although, in light waves, the weight of the chain will buffer some of the movement. Jacketed anchor rode is generally better because it is lighter and easier to handle plus it offers some shock absorbing properties that could add years of life to the deck and tying fixtures of your boat.

The Fourth Dimension - Definition in Art History

We live in a three-dimensional world and our brains are trained to see three dimensions — height, width, and depth. This was formalized thousands of years ago in the year 300 B.C. by the Alexandrian Greek philosopher, Euclid, who founded a school of mathematics, wrote a textbook called the Euclidean Elements, and is known as the father of geometry. However, several hundred years ago physicists  and mathematicians postulated a fourth dimension. Mathematically, the  fourth dimension  refers to time as another dimension  along with length, width, and depth. It  also refers to space and the space-time continuum. For some, the fourth dimension is spiritual or metaphysical. Many artists during the early 20th century, among them the Cubists, Futurists, and Surrealists, have attempted to convey the fourth dimension in their two-dimensional artwork, moving beyond the realistic representation of three-dimensions to a visual interpretation of the fourth dimension, and creating a world of infinite possibilities. Theory of Relativity The idea of time as a fourth dimension is usually attributed to the Theory of Special Relativity proposed in 1905 by the German physicist Albert Einstein (1879-1955). However, the idea that time is a dimension goes back to the 19th century, as seen in the novel The Time Machine  (1895) by British author H.G. Wells (1866-1946), wherein a scientist invents a machine that lets him travel to different eras, including the future. Although we may not be able to travel through time in a machine, scientists have more recently  discovered that time travel is, in fact, theoretically possible.   Henri Poincarà © Henri Poincarà © was a French philosopher, physicist, and mathematician who influenced both Einstein and  Pablo Picasso with his 1902 book, Science and Hypothesis. According to an article in Phaidon,   Picasso was particularly struck by Poincarà ©s advice on how to view the fourth dimension, which artists considered another spatial dimension. If you could transport yourself into it, you would see every perspective of a scene at once. But how to project these perspectives on to canvas? Picassos response to Poincarà ©s advice on how to view the fourth dimension was Cubism --  viewing multiple perspectives of a subject at once. Picasso never met Poincarà © or Einstein, but their ideas transformed his art, and art thereafter. Cubism and Space Although the Cubists did not necessarily know  about Einsteins theory —  Picasso was unaware of Einstein when he created Les Demoiselles dAvignon  (1907), an early Cubist painting — they were aware of the popular idea of time travel. They also understood Non-Euclidean geometry, which the artists Albert Gleizes and Jean Metzinger discussed in their book Cubism  (1912). There they mention the German mathematician Georg Riemann (1826-1866) who developed the hypercube. Simultaneity in Cubism was one way artists illustrated their  understanding of the fourth dimension, meaning that the artist would simultaneously show  views of the same subject from different viewpoints  Ã¢â‚¬â€ views that would not normally be able to be seen together at the same time in the real world. Picassos Protocubist painting, Demoiselles DAvignon, is an example of such a painting, since it uses simultaneous fragments of the subjects as seen from different viewpoints - for example, both a profile and frontal view of the same face. Other examples of Cubist paintings showing simultaneity are Jean Metzingers Tea Time (Woman with a Teaspoon) (1911), Le Oiseau Bleu (The Blue Bird  (1912-1913), and  Robert Delaunays paintings of the Eiffel Tower behind curtains.   In this sense, the Fourth Dimension concerns the way in which two kinds of perception work together as we interact with objects or people in space. That is, to know things in real time, we must bring our memories from past time into the present. For example, when we sit down, we dont look at the chair as we lower ourselves on to it. We assume the chair will still be there when our bottoms hit the seat. Cubists painted their subjects based not on how they saw them, but on what they knew of them, from multiple perspectives. Futurism and Time Futurism, which was an offshoot of Cubism, was a movement that originated in Italy and was interested in motion, speed, and the beauty of modern life. The futurists were influenced by a new technology called chrono-photography  that showed the movement of the subject in still-photos through a sequence of frames, much like a childs flip-book. It was the precursor to film and animation. One of the first futurist paintings was  Dynamism of a Dog on a Leash  (1912), by Giacomo Balla, conveying the concept of movement and speed by blurring and repetition of the subject. Nude Descending a Staircase No. 2 (1912), by Marcel Duchamp, combines the Cubist technique of multiple views with the futurist technique of the repetition of a single figure in a sequence of steps, showing the human form in motion. Metaphysical and Spiritual Another definition for the fourth dimension is the act of perceiving (consciousness) or feeling (sensation). Artists and writers often think of the fourth dimension as the life of the mind and many early 20th century artists used ideas about the fourth dimension to explore metaphysical content.   The fourth dimension is associated with infinity and unity; the reversal of reality and unreality; time and motion; non-Euclidean geometry and space; and spirituality. Artists such as Wassily Kandinsky, Kazimir Malevich, and Piet Mondrian,  each explored those ideas in unique ways in their abstract paintings.   The fourth dimension also inspired Surrealists such as the Spanish artist Salvador Dali, whose painting, Crucifixion (Corpus Hypercubus) (1954), united a classical portrayal of Christ with a tesseract, a four-dimensional cube. Dali used the idea of the fourth dimension to illustrate the spiritual world transcending our physical universe. Conclusion Just as mathematicians and physicists explored the fourth dimension and its possibilities for alternative realities, artists were able to break away from one-point perspective and the three-dimensional reality it represented to explore those issues on their two-dimensional surfaces, creating new forms of abstract art. With new discoveries in physics and the development of computer graphics, contemporary artists continue to experiment with the concept  of dimensionality. Resources and Further Reading Henri Poincarà ©: the unlikely link between Einstein and Picasso, The Guardian, https://www.theguardian.com/science/blog/2012/jul/17/henri-poincare-einstein-picasso?newsfeedtrue Picasso, Einstein, and the fourth dimension, Phaidon,  http://www.phaidon.com/agenda/art/articles/2012/july/19/picasso-einstein-and-the-fourth-dimension/ The Fourth Dimension and Non-Euclidean Geometry in Modern Art, Revised Edition, The MIT Press, https://mitpress.mit.edu/books/fourth-dimension-and-non-euclidean-geometry-modern-art The Fourth Dimension in Painting: Cubism and Futurism, The peacocks tail,  https://pavlopoulos.wordpress.com/2011/03/19/painting-and-fourth-dimension-cubism-and-futurism/ The painter who entered the fourth dimension, BBC,  http://www.bbc.com/culture/story/20160511-the-painter-who-entered-the-fourth-dimension The Fourth Dimension, Levis Fine Art, http://www.levisfineart.com/exhibitions/the-fourth-dimension Updated by Lisa Marder 12/11/17

Review Article Divided Societies and Deliberative Democracy

Among comparative scholars there is a continuing debate about which kinds of institutions would work best for stabilizing peace in ethnical divided societies. In general, they agree on the necessity of democratic institutions. The question is whether these institutions should be built on the principle of inclusion or moderation (O‘Flynn 2007: 731). O‘Flynn is reviewing the work of Arend Lijphart and Donald Horowitz, the two main characters of this debate. While Lijphart focuses on inclusion with his consociational democracy (ibid.: 734), Horowitz‘s incentives-based approach deals with moderation (ibid.: 736). The author enters the discussion by pointing out that inclusion and moderation are co-requirements for the fundamental issue of†¦show more content†¦Similar to the reasoning of Dryzek (2005: 224) communication must be reflective in order to allow people to change their opinion. However, in post-conflict societies deep differences, ethnic cleavages, and hatred prevail. Even for Western democratic societies the assumption of broad reciprocity seems to be a normative desire rather than empirical evidence. Second, complete inclusion in terms of publicity is illusive. Nowadays, most societies are too big to allow each citizen to discuss all issues and policies, and arrive at a compromise. On the one hand, there is not enough time for everyone to participate, and, on the other hand, nothing would ever get done. Also, people must be interested in what is going on. It appears questionable to what extent it is possible to motivate the public discourse. The interest in the happening has to come from the society itself. In addition, this interest probably varies from one individual to another and from topic to topic. Therefore, taking the entire diversity of public views and opinions into account is not functional. Third, there is no electoral system that translates the voters‘ preferences exactly into electoral results. Besides the s heer feasibility problem, there is the option of manipulating the electoral system in favor of a certain ethnic group, gerrymandering, or the usage of suffrage restrictions (Dryzek 2005: 226). Thus, theShow MoreRelatedTackling The Democratic Deficit Between The European Union ( Eu )2859 Words   |  12 Pagesundebated. Democracy deficit in the EU in its ordinary meaning means that there is gap between the EU institutions and citizens in the member states of the EU. Recommendations have been put forward to bridge the gap between the EU’s institutions and the citizens in the member nations of the EU. These range from empowering the national Parliament of member states to giving citizens more direct voice in Europe. A founding principle of the European Union is Subsidiarity. This is found in Article 5(3) ofRead MoreThe Aftermath Of Shay s Rebellion2048 Words   |  9 Pagesdivisions in society by converting private property to common ownership. Influenced by Lockean ideas based on a belief in natural rights, framers believed that protecting private property was and still is a fundamental role of the government (Dunn, 1982). According to Locke, the sole purpose of government was to protect natural rights. A government must be built on the consent of the governed, and it should be a limited government (Schneider and Peardon, 1953). With the creation of the Articles remainedRead MoreThe Fall of the United States/Rome II?3132 Words   |  13 Pagesby examining the results of this system, the corruption and Fundamental ideas that lead to the rise of a â€Å"Central Power† that came to be present in both nations and many say signaled the end of the Republic Era of Rome. I hope to provide critical review in which we can use as knowledge in indicating why the U.S. is currently in a state of decay. Republic: A Government in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsibleRead MoreChallenges for Urban Local Governments in India46115 Words   |  185 Pagespublication in a forthcoming issue of the Journal of Asian and African Studies, by Sage Publications Ltd. Copyright  © Rumi Aijaz, 2007 All rights reserved. Apart from any fair dealing for the purpose of research or private study, or criticism or review, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing of the publisher nor be issued to the public or circulated in any form other than that

Nature vs. Nurture - 1117 Words

The nature versus nurture debate is one of the oldest issues in sociology (Davidson, 1991, n.p.). The debate centers on the relative contributions of genetics and environmental factors to human behavior (Davidson, 1991, n.p.). Today, the majority of experts believe that behavior and development are influenced by both nature and nurture (Macionis, 2009, p. 73). The biggest question now is which one affects human development more: nature or nurture? According to Macionis (2009, p. 72), in the past, it was always common knowledge that human â€Å"behavior was instinctive, simply our nature.† Some scientists thought that people behaved as they did according to genetic tendencies or even animal instincts (Macionis, 2009, p. 72). This is known as†¦show more content†¦Trefil (1996, n.p.) concludes by stating that the science of human behavior â€Å"will continue to be enormously influenced by the rapid advances in molecular biology.† With further research, scientist w ill eventually understand personality and behavior and how much of it is determined by human genetics. The two articles I chose to summarize are related to the concept from the chapter because they all discus the nature-nurture debate. All three of the sources give the reader an explanation of the different viewpoints of the topic of human behavior. A century ago, most people thought human behavior resulted from biological instinct, but sociologist now believe that it is determined a little more by one’s surroundings (Davidson, 1991, n.p.). All three sources question the fight over how much of whom we are is shaped by genes and how much by the environment. We do not yet know how much of what we are is determined by our DNA and how much by our life experience, but we do know that both play a part (Macionis, 2009, p. 73). The concept of nature vs. nurture can also be related to my own life. I have always made really good grades and had tremendous academic success. It just seeme d natural that I worked hard in school, that it was in my genes maybe, but when I asked my parents how they did in school they told me that they struggled every year. TheyShow MoreRelatedNature Vs Nurture : Is The Nature Or Nurture?1300 Words   |  6 PagesAoS 3: Student Directed Research Investigation Unit 1 Psychology - Megan Rodrigues RESEARCH QUESTION How is the nature vs nurture debate related to a consideration of the mental disorder, schizophrenia? INTRODUCTION Schizophrenia is categorized by thoughts or experiences that seem abnormal with reality, disorganized speech or behaviour and decreased participation in regular daily activities. Difficulty with memory and concentration are sometimes also present. The two hit hypothesis generally refersRead MoreNature Vs Nurture : Nature Or Nurture874 Words   |  4 Pages Nature or Nurture. Nature may be all of the genes and hereditary factors with which influence them to become who they are such as physical appearances and personality characteristics. Nurturing impacts people’s lives as well as how they are raised and all the environmental factors. In combination, these qualities can be the true identity of oneself. Many people may argue that nurture appears to a play huge factor in the two, but others may think otherwise. Not having both as a characteristic canRead MoreNature Vs Nurture : Nature And Nurture1821 Words   |  8 PagesNature and nurture are usually seen as very different things, but they are actually somewhat similar and even integrated. There is a huge debate over which holds more influence over how people develop and whether they behave based on genes or their environment. In Sincero’s article Nature and Nurture Debate she discusses arguments for both sides, saying behavior may be completely in a person’s genes, or it could come from experience and influence. Many people believe â€Å"that the criminal acts, tendencyRead MoreNature And Nurture : Nature Vs. Nurture1780 Words   |  8 PagesAs Nature Made Him: Nature vs. Nurture Human behavior is determined by both biological and environmental factors. Psychologists are interested in learning which of these factors is a greater influence on human behavior and identity. Although psychologists today generally agree that both nature and nurture play a role in conditioning behavior, there is still disagreement about the part that each of the factors have in determining behavior. The nature versus nurture debate focuses around the extentRead MoreNature Vs Nurture : Nature And Nurture1821 Words   |  8 Pages Nature and nurture are usually seen as very different things, but they are actually somewhat similar and even integrated. There is a huge debate over which holds more influence over how people develop and whether they behave based on genes or their environment. In Sincero’s article Nature and Nurture Debate she discusses arguments for both sides, saying behavior may be completely in a person’s genes, or it could come from experience and influe nce. Many people believe â€Å"that the criminal acts, tendencyRead MoreNature Vs. Nurture : Nurture1405 Words   |  6 PagesDecember 2015 Nature vs. Nurture Very few people know that the nature vs. nurture debate actually began early on with famous Greek philosophers such as Plato and Descartes. These two theorized that certain things were inborn and occurred naturally regardless of environmental factors (Cherry 1). Most people began to witness this debate in 1896 when the phrase â€Å"Nature vs. Nurture† was coined by English polymath, Francis Galton (â€Å"Nature vs. Nurture†Origins 1). At this point the nature vs. nurture debate grewRead MoreNature Vs. Nurture : Nurture901 Words   |  4 Pagestime the proverbial nature vs. nurture question has sparked quite a debate. I hold the belief that nature vs. nurture is a zero-sum game. We essentially enter this existence, a lump of clay that needs molding in order to take form. So, I believe my creative abilities can be attributed to the sum of our genetic predisposition, the nurture of our mind, and the dynamic of both nature and nurture, with nurture being the predominant influencing factor. In psychology, nature refers to the inheritedRead MoreNature Vs Nurture And Nurture1777 Words   |  8 Pagesformed and cultivated through nature or nurture. This psychological anomaly is why I am writing this paper. Ever since I have enrolled in, and taken, a psychology class during my junior year, I have questioned whether every little emotion and action is because of nature or nurture. No topic is more widely explored and researched than morality. It cannot be scientifically or psychologically proven or tested, making any claim highly controversial. This idea, of nature vs nurture, that I had previously researchedRead MoreThe Nature Vs. Nurture1463 Words   |  6 PagesT What can we define as Human Nature and Nurture? The Nature vs. Nurture has been a long never ending debate for some time now. Nature vs Nurture has been so profoundly debated, that now it’s unclear whether what makes us who we are and what we do, nature or nurture. For purposes of this essay Nature is going to be defined as characteristics we acquire through our genetic and biological factors, while that Nurture is going to be defined characteristics we acquire through our interactions and influencesRead MoreNature Vs. Nurture : Nature Versus Nurture1337 Words   |  6 PagesNature vs. Nurture There are many different ways that behavior can be explained, especially on the terms of nature vs. nurture. Aggression is a behavior that has been extensively analyzed in a complex manner and the causes of it can be explained many different ways. Aggression can be defined as hostile or destructive behavior that can cause injury or destructive outlook especially when caused by frustration. Nature can be defined as aspects of behavior that have been inherited or are genetic, while

The Centro Case Duties and Responsibilities Outlined

Question: Discuss about theCentro Casefor Duties and Responsibilities Outlined. Answer: Introduction In 2011, the Federal Court of Australia ruled on Australian Securities Investments Commission (ASIC) v Healey Ors [2011] FCA 717 (the Centro Case), which has become one of the landmark cases on the duties and responsibilities of Australian company directors with regard to financial statement(Bowlt, 2011). As the facts of the case go, ASIC had instituted civil proceedings in 2009 against directors and officers of the Centro Group citing breach of the statutory duty of care, skill and diligence(McCullough Robertson Lawyers, 2011). According to ASIC, the directors were liable in breach as they had approved financial statements in 2007 which were marred by discrepancies. Additionally, the court had to address the issue of delegation of the aforementioned duty, the duty of directors to take reasonable steps in ensuring financial statements adhere to financial reporting standards as well as the role of non-executive directors in management(AICD, 2011). The issues in question were contrav entions of ss. 180(1), 601FD (1) and 344(1) of the Corporations Act 2001(Cth), hereinafter referred to as the Act 2001. The following report is commissioned to outline the specific duties and responsibilities breached by the Centro Group directors and analyse the Courts decision in view of the Act 2001. An Overview of the Directors Duties and Responsibilities Breached in the Centro Case The Duty of Care, Skill and Diligence The Act 2001, s.180, expects that directors execute their duties with a certain level of care, skill and diligence as would a prudent man under similar circumstances(Latimer, 2012, p. 698). This provision is adopted from the common law standing as illustrated by Romer J in Re City Equitable Fire Insurance Co Ltd [1925] Ch 407, where the standard of care in this duty is pit against the actions of a prudent man in the same situation(Corkery, 1987, p. 133). However, today the test also takes into consideration the nature of the business in question, its size, the constitution of the board of directors and the allocation of duties amongst them (Douglas, 2015). Additionally, the Act 2001, under s 198D, gives directors powers to delegate their duties so long as this is in line with the companys constitution. These duties include the preparation of company accounts, management roles among others. The delegation, however, does not exclude directors from keeping track of company activities, they cannot simply rely on the information of experts or employees but should undertake to examine and clarify details pertaining to their duties(Douglas, 2015). In ASIC v Macdonald (No 11) [2009] NSWSC 287 (the James Hardie case), Gzell J, even where expert advice is sort or duties are delegated, directors have a nondelegable duty to the company and its stakeholders to ensure they take all reasonable steps to provide accurate information failure to which they will be in breach of s180 of the Act 2001(Wan, 2015, p. 79). In the Centro case, the directors breached the duty of care, skill and diligence by failing to identify the discrepancy in the companys financial statements; the actions of the directors, in this case, fell below the stipulated standard of care mentioned above(Paolini, 2014, p. 314). Additionally, the directors reliance on external advisors, that is the PWC auditors, did not suffice as a reason to exempt them from liability as the law expected them to take all necessary action to ensure accuracy despite delegation of duties(Basovo, 2012, p. 84). The failure to identify the inaccuracies, as well as investigate the information provided by advisors, led to a breach of duty by Centro Groups directors. Duty not to Make Misleading Statements The Act 2001, under s.295 (4), tasks directors with the duty of making a declaration on the companys financial position. In making this declaration, directors are required to ensure the information they provide is accurate and a true and fair view of the companys position; this means that they are expected to read and understand said statements and apply their knowledge while reviewing them(AICD, 2011). Additionally, ss 601FD (1) and 344 (1) place the duty on company directors to take proper measure to ensure they, as well as the company, comply with the provisions of the Act 2001. The onus is therefore on directors to stay in the loop and pay attention all while ensuring utmost competency among board members so as to avoid discrepancies(Worthington, 2016, p. 382). Failure to comply with this requirement attracts a civil penalty on offenders who are found liable. According to Owen J in The Bell Group Ltd (in liq) v Westpac Banking Corporation (No 9) [2008] WASC 239, the buck of responsibility and liability in the running of a company stops at the board of directors. As such, directors have the duty to fully comprehend their duties and take all necessary measure to comply with them(Schenone, 2011, p. 95). The delegation of duties does not make them dormant; they must create for themselves a working knowledge on the running of the company and apply their mind to any information received from management(Daniels v Anderson, 1995). Directors are at the apex of the corporate structure and although they do not need to be involved with the nitty gritty details of the companys day to day operations, case law is clear that they have a principle role to play in the management of the company and as such should always be aware of the fundamentals of the business(AICD, 2011). In the Centro case, the Directors relied on the external auditors findings that there were no discrepancies in the financial statements. Although these were well renown auditors, the law expects directors to take it upon themselves to ensure their declarations are not misleading and reflect a true and fair view of the institutions financial position. It is clear that the Directors, in this case, did not intend to mislead stakeholders but merely relied on misleading information, however, failure to utilise their knowledge and adequately review the records constituted a breach of duty by Centros directors. An Analysis of the Courts Decision in View of the Corporations Act 2001 In the Centro case decision of June 2011, Justice Middleton found that each of the directors knew of the current interest bearing liabilities and guarantees and in addition knew, or should have known, of the key accounting principles that would inform them of any discrepancies in the statements(AICD, 2011). As such, each director did not take reasonable steps or apply his mind accordingly; additionally, they all failed to question management and other relevant parties on the proposed statements and additionally failed to request declarations as per the provisions of s 295A of the Act 2001.All these are duties expected of them in their capacity as directors and failure to fulfil them constituted a breach of the duty of care skill and diligence owed to Centro Group and a failure to take prudent steps in ensuring financial statements comply with set guidelines(AICD, 2011). They had, therefore, contravened the provisions of ss 180(1), 601FD (3) and 344 of the Act 2001. The following disc ourse will analyse the courts decision, in depth, in view of the Act 2011. According to Justice Middleton, directors must read the financial records and formulate their own view and not simply rely on the information provided by experts and advisors before approval(McCullough Robertson Lawyers, 2011). He believes that reading and comprehending the contents of the statements personally requires that the director to question whether the proposed statements are in line with his personal knowledge of the companys financial position. In his decision, the judge expressed that directors ensure they have a basic understanding of the companys business and its fundamentals. In addition, company directors must remain informed on company activities and monitor their affairs and policies by familiarising themselves with its financial status and conducting routine reviews of its statements(McCullough Robertson Lawyers, 2011). This is in line with the provisions of ss 601FD(1) and 344(1) of the Act 2001, which task directors with ensuring they take undertake measures to a scertain compliance with set guidelines in the Act 2001. Each director should have taken it upon themselves therefore to have an interest in the information provided by the external auditors and apply their skill as directors to discern the accuracy of the information provided. The decision in the Centro Case illuminates the higher standard of care expected of directors as opposed to previous cases. The original test for the standard of care as illustrated in Re City Equitable Fire Insurance was said to be subjective. The test in Centro, guided by s 180 of the Act, encompasses both the subjective and objective test where directors duty of care is pitted against the actions of a prudent man as well as their specific skill; where a director is appointed based on a particular skill the duty of care expected of them is higher(Wan, 2015). As such, the directors were not only expected to act diligently but also to apply their knowledge of the companys business in their review of its statements as they had been appointed with the expectation to nurture this skill. Their failure to apply this knowledge led the court to find them liable for breach of duty based on the aforementioned subjective and objective tests. Additionally, the decision in Centro outlined the extent to which directors can delegate their duties as per section 198D. This issue intertwined with the aforementioned issue of reliance on professional information. In Centro, a committee of directors known as the board audit and risk management committee had been commissioned with the mandate to supervise the preparation of financial statements and reports(AICD, 2011). Justice Middleton held that, although an audit committee played a significant role it could not substitute the role of directors. This decision puts a limit on the extent to which directors can delegate their duties as well as the significance of their managerial role to the company. Justice Middleton believed directors were paramount to the company structure and should not assume their duties through delegation(Schenone, 2011). Critics note, however, that this decision has failed to provide directors with the guidance on how much enquiry they are to make on proposed financial statements(McCullough Robertson Lawyers, 2011). The directors may experience challenges in identifying how far they are to investigate issues that are not clearly identifiable on information provided by management. Additionally, there is the fear that the decision, in this case, could challenge the relationship between management and directors as the high standard of care requires directors to heighten their scrutiny of information brought before them(Norton Rose Fulbright, 2011). This poses a challenge as the decision was unclear on the extent to which it is appropriate to scrutinise information and records presented to directors(McCullough Robertson Lawyers, 2011). Conclusion As illustrated in ASIC v Healey Ors (2011), the Corporations Acts (2001) (Cth) s 180 places a duty on directors to exercise care, skill and diligence in their responsibilities. Additionally, directors are expected to take all necessary measure to ensure the companys financial statements comply with financial reporting standards as per ss 601FD (1) and 344 (1) of the Act. In the above-mentioned case, the company directors failed to identify discrepancies in their annual financial reports after relying on professional experts who found no corrections in them. Their failure to identify these discrepancies constituted a breach of the aforementioned duties as they were expected to apply their knowledge and skill to review the reports prior to approving them. The decision of the Federal Court had brought with it some challenges as it remains unclear as to how much scrutiny directors should exercise on the information availed to them by management and additionally on how liable they are wh ere they fail to identify mistakes that are obvious. With this in mind, it is clear that directors, although given the power to delegate, should remain at the apex of the corporate structure and exercise care, skill and diligence in reviewing financial statements so as to ensure they reflect a true and fair view of the companys financial status. References AICD, 2011. Centro Case Summary: ASIC v Healey Ors [2011] FCA 717. [Online] Available at: https://www.thewaltongroup.com.au/wp-content/pushups/2011/09/ASIC_v_Healey_Centro_Directors_Federal_Court_Judgment__27_June_20111.pdf [Accessed 3 February 2017]. ASIC, 2016. Directors-What are My Duties as A Director?. [Online] Available at: https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-are-my-duties-as-a-director/ [Accessed 3 February 2017]. Austin, B., 2012. Directos' Duties: Some Reflections after the James Hardie, Fortescue and Centro Cases. [Online] Available at: https://m.minterellison.com/publications/reflections-after-the-james-hardie-fortescue-cand-centro/ [Accessed 3 February 2017]. Australian Securities and Investments Commission v Healey Ors (2011) FCA. Basovo, V., 2012. Explaining Financial Scandals: Corporate Governance, Structured Finance and the Enlightened Sovereign Control Paradigm. Newcastle: Cambridge Scholars Publishing. Bowlt, H., 2011. Directors' Duties - Raising the Bar?. [Online] Available at: https://www.findlaw.com.au/articles/5136/directors-duties--raising-the-bar.aspx [Accessed 3 February 2017]. Corkery, J. F., 1987. Directors' Duties of Care, Skill and Diligence. In: Directors' Powers and Duties. Melbourne: Longman Cheshire, pp. 131-144. Daniels v Anderson (1995) 16 ACSR . Douglas, J., 2015. Directors' duty of care and diligence. [Online] Available at: https://legalvision.com.au/directors-duty-of-care-and-diligence/ Downie, A., 2011. The Centro Matter: ASIC v Healey [2011] FCA 717 and Breach of Director's Duties. [Online] Available at: https://www.the-civil-lawyer.net/2011/06/centro-matter-asic-v-healey-2011-fca.html [Accessed 3 February 2017]. Golding, G., 2012. Tightening the Screws on Directors: Care, Delegation and Reliance. UNSW Law Journal, 35(1), pp. 266-290. Hall Wilcox, 2015. Legal Obligations of Directors of Australian Companies. [Online] Available at: https://www.hallandwilcox.com.au/legal-obligations-of-directors-of-australian-companies/ [Accessed 3 February 2016]. Latimer, P., 2012. Australian Business Law. Sydney: CCH Australia Ltd. McCullough Robertson Lawyers, 2011. The Centro Decision - Impact on Directors' and Officers' Liability Insurance. Focus, 20 July, pp. 1-2. McCullough Robertson Lawyers, 2011. The Centro Eight- ASIC Turns up the Heat on Company Directors and Executives. Focus, 30 June, pp. 1-2. Norton Rose Fulbright, 2011. The Centro Decision - Directors as the 'Final Filter' of Corporate Financial Accounting. [Online] Available at: https://www.nortonrosefulbright.com/knowledge/publications/52803/the-centro-decision-directors-as-the-final-filter-of-corporate-financial-accounting [Accessed 3 February 2017]. Paolini, A., 2014. Research Handbook on Directors Duties. Cheltenham: Edward Elgar Publishing. Pearse Trust, 2011. ASIC v Healey and Others - A Must Read for Directors. [Online] Available at: https://www.pearse-trust.ie/blog/bid/78452/ASIC-v-Healey-and-Others-A-Must-Read-For-Directors [Accessed 3 February 2017]. Schenone, S., 2011. Duties and Responsibilities of Directors and Company Secretaries in New Zealand. 4th ed. s.l.: CCH. Walmsey, S. Puri, R., 2011. The Centro Decision - ASIC v Healey Ors [2011] FCA 717. [Online] Available at: https://www.jws.com.au/en/legal-updates-archive/item/198-the-centro-decision-asic-v-healey-ors-2011-fca-717 [Accessed 3 February 2017]. Wan, W. Y., 2015. Directors' Defence of Reliance on Professional Advisers under Anglo-Australian Law. Common Law World Review, 44(1), pp. 71-93. Worthington, S., 2016. Sealy and Worthington's Text, Cases and Materials in Company Law. 11th ed. Oxford: OUP.

Moose on the real Essay Example For Students

Moose on the real Essay By the mooses body proportions, antlers shape and size, and its demeanor, the moose is the mighty symbol of the boreal and subartic zones of the entire northern hemisphere. To describe moose country, it is variously dense mixed forest, called taiga or norhtern brush, but the other parts are open forest tundraThe climate differs from zone to zone, and woodland moose prefer only the zones where the average summer tempeture does not much exeed sixty degrees. Wind chill help the moose to stay cool in the costal and the relatively humid zones, as well as in the much drier interior. But the moose has had to adapt both to humid and dry climates, and to dense and open habiats. In North America we refer to this animal as the moose; however, through out continental Erurope, it has been known to them as the elk. The scientific name for it is, Acles acles, also translates in to British English as elk. For North Americans this has been a source of confusion, as the name elk is also given to another member of the deer family. But common names living things differ from region to region, from country to country. The moose towering above with its massive head it surveys the surrounding land.The moose raises its snout with its huge nostrils, to check for any unfamiliar scents of unseen danger. The moose standing at over six feet tall at the shouldersand weighing over one thousand pounds, this animal comands respect. Its neck streches for reach of tender shrubs nearby. Although moose lack teeth in the front of the upper jaw, they have little trouble dealing with woody plnat material that constitues much of their diet. They feed on fresh leaves by browsing and may even pull a shoot sideways in there mouth, freaquently stripping off up to two feet in vegitation with aid of the tonuge. They also browse the tips of twigs, particularly the most recent growth. Regardless of how it is attained, the plant material is thoroughly crushed between twleve sets of broad, flattened teeth at the rear of its mouth, six pairs of molars and six pairs of pemolars Although many different plants are eaten by moose, the type consumed depends on availability, both geographically and seasonally. In general, preferred trees and shrubs include willows, trmbling aspen, redosier dogwood, red maple, stripped maple, white birch, beaked hazelnut, pin cherry and, primarily in winter, balsam fir. Aquatic plants, particulary water sheild, yellow pond lily, and poundweed, constitue a prefered and important part of the mooses diet in the summer. Bibliography: