Understanding the role of organisations free essay sample

Understanding the role of the organisation Identify the organisation and give a brief description of it. Tesco is a British multinational supermarket operating in over 12 different countries worldwide including republic of Ireland, turkey, Poland, Japan, china, and the US. and employing over 530,000 people. It was founded by Jack Cohen in 1919 in east end London and since then on has grown considerably becoming the third largest retailer in the world. Describe the products/services of that organisation Originally known for being a groceries store Tesco’s has expanded into other area’s including electrical, home ware, and even clothing. There are also many different services such as Tesco Bank, which provides insurance, loans, credit cards and mortgages. Other services such as mobile, and broadband. Five different stores home plus, express, metro, extra, superstore. Identify the customers and define the needs. Tesco’s aim to provide all customers with value for money products and to get lifetime loyalty to keep customers coming back to Tesco’s time after time. We will write a custom essay sample on Understanding the role of organisations or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Three areas that we know matter to many of our customers are: price and value; multichannel and convenience; and trust. (tescoplc. com). Tesco’s regularly ask their customers for their opinions via surveys, and a shopper’s thoughts panel to establish their needs. They want food that is value for money and at their convenience. Tesco consumers cater for on average 51 % of the adult population from all socio-economic and age groups particularly performing well with families and 18-44 age groups. (designintelligence. co. uk). Offering Tesco own value products, frequent offers and savings on buying two instead of one etc. They also have Tesco’s finest for the more up market customers, and organic produce for the healthy customers. Describe the purpose, goals, targets and financial structure of the organisation. Tesco has changed their purpose in reflection to the huge change in our society to see large business and organisations help in tackling some of the world’s challenges. A simple purpose of what they stand for†¦ is ‘We make what matters better, together’. One of their goals is to reduce CO2 emissions in their existing stores. At the end of 2012/13, they achieved a reduction of 32. 5% and their 2020 goal is to achieve a 50% reduction in emissions per square foot. Every organisation has a goal to what kind of organisation they want to be and what they aim to achieve. Tesco’s vision is â€Å"to be the most highly valued business by the customers we serve, the communities in which we operate, our loyal and committed customers, and of course our shareholders’. The structure of Tesco is a hierarchy one. There are many layers to the organisation with each member reporting to a more senior person directly responsible for that department who then report directly to their manager and so on all the way to the top. Each function/department within Tesco has its own finance team who do cost analysis, performance monitoring and setting targets. These teams include financial reporting, treasury management, audit, and taxation team. Each of these teams is reportable to a finance director. Tesco is comprised of the chairman Sir Richard Broadbent and executive and non-executive directors. The chief financial officer Laurie Mcllwee who was appointed to the board in January 2009 and has the responsibility of identifying financial risks, which areas of the company is most efficient, budgeting and forecasting the company’s future success. Over the next couple of years they will be focusing on 3 main objectives to continue the growth of Tesco by allocating their capital of around 4% of their sales. They will divide this budget between 1. Continuing to invest in a strong UK business 2. Establishing multichannel leadership in all of our markets 3. Pursuing disciplined international growth (http://www. tescoplc. com/index. asp? pageid=546) Use the PESTLE approach to identify a minimum of 4 factors including legal and regulatory frameworks and explain their impact on that organisation. Technological factors The introduction to new technological devices or systems now used in stores and warehouses are beneficial to both the customers and Tesco improving customer service and to improving work efficiencies. For example self-service checkouts introduced recently to Tesco’s make it more convenient for customer’s to pay for their goods. This reduces costs to the business by reducing the number of staff needed. And also reduces waiting time of customers in queues. Other devices such as RF scanners, electronic shelf labelling and more other wireless devices. Environmental factors Includes working together and taking responsibility for the contribution to environmental issues such as global warming, use of resources etc. This involves ensuring policies are set in place to recycle and encourage others to recycle as well and think about wastage and packaging in production. Social/Culture factors Over the past several years the British population has seen a shift in their lifestyle and eating habits and are now increasingly surrounded by the need for healthy eating. Because of this sudden change in consumer demand, Tesco’s has adapted its product range to stock organic produce in order to fulfil customer needs. Political Factors During this difficult time of high levels of unemployment throughout the UK and the rest of the world governments are encouraging business like Tesco’s to help create job opportunities for the local people aiming to reduce unemployment figures including lower paid, and flexible working for different type of people such as the disabled, students and other citizens. Describe the structure and at least 4 functions of the organisation. Organisational structure’s can vary from business to business, depending on the type and size. Each organisation is divided into functions such as Finance, Personnel, Operations, and Marketing etc. These functions are made of individuals who play a key part in making the organisation a success. Tesco’s is a very large organisation with a Hierarchical structure. There are many different layers from the top director of the company right down to the sales team with the stores. With each person directly reported to a line manger with that function/department. Geography where it will have regional and area managers being held accountable of individual stores within that area with the key aim to maximise profit will also break down Tesco’s and other retailers. Each store will then also be divided down by department such as Clothing, Frozen foods, bakery, electrical etc all managed by a team leader. The function of the Security Loss prevention team is to ensure the safe and secure environment for both customers and colleagues. This consists of each store having a loss prevention manager and sometimes a security manager as addition to oversee any potential security issues and find solutions to solve these problems and protect the customer’s asset/profit. The Marketing function involves a number of roles including analysing other competitors, reviewing the store’s layout and range. Driving promotions and prices with high profile advertising from TV adverts, promotional banners within stores etc to customers receiving emailing and vouchers. Its aim is to entice more customers into the stores by promoting the products that they sell. The Personnel function is to make everyone understands the processes and policies and have all the leadership’s skills necessary to achieve the organisations goals. They do everything from training and developing staff, communicating benefits to colleagues, to performance and reward management. The I. T department is a very important part of the organisation as everything involves technology and we heavily rely on it to carry out daily duties. For example the I. T department are responsible for making sure the systems are user friendly for both customers and staff i. e. self-service checkouts. They also include systems to check stock control and availability to even systems used within other functions such as the finance, HR, and marketing. Explain how the different functions work together to optimise performance. Each organisation’s success to achieve their goals means that each of the different functions needs to work together and share their expertise. Everything that happens at Tesco’s has a direct effect on each department as they are all very closely linked. For example if Tesco’s decided to sell a different product then it would involve many different areas. Purchasing and supply would be involved to find appropriate suppliers and to consider distributional factors. They would also need to communicate with the finance team to ensure that budgets are stuck too and that it would produce a good return. Knowing what products would sell through consumer research and how they will advertise the new products would all come from the marketing team. Explain the culture of the organisation and at least two ways in which it affects its operation. Culture within an organisation is a mixture of its values, mission, and vision for the business and people’s behaviours, which is communicated out to new team members as exceptions of how they work, or the ways the organisation is run on order to achieve its objectives. Different organisations will have very different cultures in how they treat their staff, their customers and how others perceive this by experience and shared opinions. According to smallbuisness. chron. com Organizational cultures can have varying impacts on employee performance and motivation levels. Oftentimes, employees work harder to achieve organizational goals if they consider themselves to be part of the corporate culture. People make up a large portion of every organisation, which is why they have a very important role for the success of it. In order for an organisation to be successful in achieving its aims, objectives and productivity people must feel valued. A survey by the American psychological association found that ‘A fifth of working Americans do not feel valued by employers and half of this group intend to look for a new job in the next year. ’ Employee’s who don’t enjoy their work are either looking for a new job and are less likely to be productive and in turn do not help towards the success of the organisation. At Tesco’s their culture is†¦. ‘We never take anyone for granted’ Tesco know that customers can shop at any store so their aim is to ensure that they do everything they can to keep customers coming back to them. This means making sure that employee’s give the best customer service they can to offer a great shopping experience. To get the best results out of employee’s its been researched that employee’s must feel happy and valued at work and are then more likely to work better towards company’s objectives. And we know that if we look after our people and treat our colleagues with trust and respect they will look after our customers. (Tesco-careers. com). Tesco’s also encourage their employee’s to develop in their career at Tesco’s ‘A real opportunity to get on’. They are encouraged to work in different areas of the business and broaden their knowledge of the organisation by supporting them with training and development. It is important to develop employee’s to often them motivation and show there are of value to the company. It also helps if as many people know how other functions/department work for succession planning in case of sudden vacancies due to employee’s resigning, or due to sickness. Others can therefore step up into another role as a contingency plan so the business does not suffer whilst recruiting and developing others from outside the business. Identify at least three ways in which HRM/LD activities support the organisation in meeting its goals and business objectives. HR department support organisations with establishing policies, producing and developing procedures for managing staff and information to help achieve the organisational aims/mission in order for the organisation to succeed. HR professionals ensure that all staff are aware of the expectations of the company and for their job profile. This can be communicated through various methods such as team talks, and job descriptions. This helps the staff to know what the organisation expects of them and gives line managers criteria of what to measure their performance against and to highlight any potential development opportunities. Activities such as in depth leaning about the organisations help HR in structuring learning and development programmes. Understanding the objectives of the organisation and how individuals will meet these objectives through training, means better and more relevant training programmes to give staff / management the necessary skills and knowledge to carry out all duties and reach their goals. This gives staff motivation knowing that they have opportunities to progress and also gives managers a guide to keep track of staff development and makes the company run more effectively if all staff are trained to the same standard in line with the company objectives. For example training staff on providing great customer services and selling skills will help increase profit for the company. Activities such as recruiting and selecting the right people with the right skills are key to achieving company objectives and creating a successful business. This involves creating an advertisement to encourage the right candidates for the role, selecting the most skilled and experienced people to help achieve the company’s aims. It is HR responsibilities to produce recruitment procedures such as interviews, and assessments in order to review their capabilities. Identify at least three ways in which HRM and LD professionals support line managers and their staff. Line managers regularly call upon HRM to help them with decision making in what action to take with employees. For example if a line manager had issues with a team members performance. HR would ensure that a fair decision is made for the employee taking an unbiased view, taking into account all facts and correct procedures, and employment laws. HR ensure that line managers and staff have had the correct training to help them to carry out their duties confidently, ensuring that all information is current and up-to-date, even suggesting refresher training if needed. For example health and safety procedures are communicated to all staff through inductions into the workforce but employments laws and policies may change therefore HR will keep management informed that current information and work handbook used must be kept up to date, and staff may need for additional training. HR can help support mangers by suggesting specialised training for managers such as workshops for â€Å"people management skills† HR can help support mangers in providing them with required skills to aid the mangers resolve issues with their own teams. Managers and staff may have had training but have forgotten information or managers may need to check that the information that they are giving staff is accurate and so may wish to call upon to knowledge of HR themselves. HR has many different duties and may not have the resources to answer everyone queries so ensures that information such as policies and procedures are available and easily accessible for staff and employees to read. This releases some of the responsibility of line managers themselves.

Swag Essay Example

Swag Essay Example Swag Essay Swag Essay Essay Topic: The Grapes Of Wrath Throughout the tale of the Goads migration to California, Ma had begun as a timid Oman without having much say in the family decisions, but steadily took on a dominant role as she threatened deputies, took care of her family, and began using a feisty mannerism that everyone obeyed. In The Grapes of Wrath, Ma is without doubt the one who holds the Goad family together because she Is the primary caretaker of everybody In the family and constantly pushes them until they achieve work and suitable living conditions. Ma is the primary caretaker of everyone, but a few instances stand out more than others. Though Ma is sassy to her pregnant daughter, Rose of Sharon, she also informs her at the Headache government camp when Rose of Sharon is upset about Connie, the father of her growing child, leaving her. Ma takes Rose of Sharon to the dance at the camp and promises not to allow anyone to touch her so she can enjoy the music without having to dance. They end up enjoying the night by each others side. Ma also comforts her other daughter, Ruttier, In an important scene where Ruthless gets in a fight with another girl and ends up bragging that her older brother, Tom Goad, Is currently hiding and wanted by police. An example of Mas impassion for Ruthless In this situation Is when Ma warns Pa that Ruthless told about Tom holding. Pa calls Ruthless a little blotch and Ma retorts, No, she din know what she was a-doing. Ruttier knows that she should not have done that and even though what she did put the whole family in jeopardy, Ma had motherly instincts and instantly comforted her little girl. When there are situations with her son, Tom, Ma is the one person that holds him back from going haywire and beating up cops. An instance where this is shown is when the Goad family leaves the Hoverflies camps to drive and look for work in Tulane. The car gets halted by men armed with pick handles and shotguns and Tom instantly becomes agitated by the rude men. He reaches for the pick handle in the car, but Ma caught his arm and held it powerfully. After driving off, Tom cannot retrain himself from crying anymore, so Ma reassures him saying tenderly, You done good. You done Jus good. Not only Is Ma a comforter with emotional problems In her family, but she also stands by Grammars side as he dies. When Grammar does die, she wraps him up appropriately In a comforter after tying his jaw together and placing two half-dollars on his eyelids. This are not alive and breathing anymore. Secondly, Ma is the main person who pushes the family on the road until they find safe conditions to work and live in. Her care and concern for her family is apparent throughout the whole book because of this constant pushing. An example is when Ma hurries them out of the comfortable Headache government camp. Though the living conditions there were filled with toilets, showers, and hospitable people, Ma knew the Goad family could not stay there anymore while there was no work to be found. When Pa tells Ma that the reason the men dont like looking for work is cause they know they wont find any, Ma replies fiercely, muff mint got the right to get discouraged. This here familys going under. You Jus mint got the right. When she says This here familys going under, it can be understood that her main concern is the family. The men finally begin discussing where to drive to and Ma interrupts saying, Well, we got to kit going, and going quick. I mint a-setting here no longer, no matter how nice. This quote is important because it shows that Ma puts the family before her own happiness because she was comfortable living in the government amp, but knew the family would not survive. She pushes them to leave the camp immediately that night, in hopes of finding work to sustain them. Another scene in the book where Ma pushes her family towards better conditions is when they are at the peach camp. Ma knows that they cannot stay there because the low wages are barely enough to keep the family alive every day and because it isnt safe for Tom to hide there with the cops looking for him. She rallies up the family and tells her clever plan for Tom to hide in a cave composed of mattresses on the back of the truck. At he end of her plan she states, Dont argue. Thats what well do. Those last two sentences show her authority and even Pa complains that it Seems like the man mint got no say no more. Also, when the flooded conditions at the boxcar camp in Chapter 30 become too unbearable, Ma announces that the children and her will be moving towards higher ground. Pa tries to weakly argue, but Ma retorts that the conditions are too wet for Rose of Sharon, so Pa eventually agrees to leave with them. This scene is important because the reader can infer from Mas strict attitude that once her mind was set, she would not let anyone stop her from helping her family be as comfortable as possibl e. In conclusion, Ma is the character in The Grapes of Wrath that holds the Goad family together. Arguably, the Goads would have gone down a rougher path if it had not been for Mas immense care for the well-being of the family that led her to become bossy. There are various scenes in the book that exhibit her obvious authority and leadership. Whether it is through emotional and physical care or the constant push to find better working and living conditions, Mas dominant role is apparent.

6 Factors in Choosing a Public vs. Private Education

6 Factors in Choosing a Public vs. Private Education What does your child need in order to succeed in attaining the best education for a promising future? This is a personal question that many parents ask themselves when choosing between a public or private education. Whats right for one child or family may not be ideal for another. To help you hone in on the best possible answer, there are generally six factors to consider.   1. What Does the Facility Offer? Many public school facilities are impressive; others are mediocre. The same is true of private schools. Private school facilities reflect the success of the schools development team and that of the school to continue to generate financial support from parents and alumni. Some private K-12 schools have facilities and amenities that surpass those found at many colleges and universities. Hotchkiss and Andover, for example, have libraries and athletic facilities on par with those at Brown and Cornell. They also offer academic and sports programs that make full use of all those resources. It is hard to find comparable facilities in the public sector- they are few and far between. Public schools also reflect the economic realities of their location. Wealthy suburban schools will often have more amenities than inner-city schools, as a rule. If your son is an aspiring football player, then a school with great athletic facilities and coaching staff should be a top priority.   2. How Many Students per Class? According to the National Center for Education Statistics report, Private Schools: A Brief Portrait,  private schools win out on this issue. Why? Most private schools have smaller class sizes, which may be ideal for a student who is easily distracted. One of the key points of private education is individual attention. You need student-to-teacher ratios of 15:1 or better to achieve that goal of individual attention. Many private schools boast class sizes of 10-15 students with 7:1 student-to-teacher ratios. Unlike private schools, a public school system must enroll almost anyone who lives within its boundaries, so generally, there are much larger class sizes- sometimes exceeding 35-40 students at some inner-city schools. However, even a large class can be a suitable learning environment if the students are well-behaved and led by a strong teacher. 3. Can the School Attract the Best Teachers? A schools ability to attract quality teachers is often tied to the salaries the school can afford to pay. Overall, public school teachers are generally better paid and have superior pension programs. Compensation varies widely, however, depending on the local economic situation and school location. For instance, teachers may earn less in Duluth, Minnesota, because its cheaper to live there than in San Francisco. Unfortunately, at some public schools, low starting salaries and small annual salary increases result in low teacher retention. Public sector benefits have historically been excellent; however, health and pension costs have risen so dramatically since the year 2000 that full-time public educators are often being forced to pay a larger share of the cost, while part-time educators may have to pay for it all. While private school compensation tends to be somewhat lower than public- again, much depends on the school and its financial resources- the often free amenities can make up for it. One private school benefit found especially in boarding schools is complimentary housing and meals, which accounts for the lower salary. Private school pension plans vary widely. Many schools use major pension providers such as TIAA. Both public and private schools require their teachers to be credentialed. This usually means a degree and/or  a teaching certificate. Private schools tend to hire teachers with advanced degrees in their subject over teachers who have an education degree. Put another way, a private school hiring a Spanish teacher will want that teacher to have a degree in Spanish language and literature as opposed to an education degree with a minor in Spanish. 4. How Much Will the School Cost You? Since local property taxes support the bulk of public education, the annual school budget exercise is a serious fiscal and political business. In poor communities or communities which have many voters living on fixed incomes, there is precious little room to respond to budget requests within the framework of projected tax revenue. Grants from foundations and the business community are essential to creative funding. Private schools, on the other hand, can raise tuition, and they also can raise significant amounts of money from a variety of development activities, including annual appeals, cultivation of alumni and alumnae, and solicitation of grants from foundations and corporations. The strong allegiance to private schools by their alumni makes the chances of fundraising success a real possibility in most cases. 5. Are There Administrative Issues? The bigger the bureaucracy, the harder it is to get decisions made at all, much less get them made quickly. The public education system is notorious for having antiquated work rules and bloated bureaucracies. This is as a result of union contracts and a host of political considerations. Private schools generally have a lean management structure. Every dollar spent has to come from operating income and endowment income. Those resources are finite. The other difference is that private schools rarely have teachers unions to deal with. 6. What Are the Expectations of Parents? Financial considerations are a major factor in determining if a public or private school is right for your family. However, you need to consider what will be expected in terms of time and commitment from you as well. Most private schools require students to be driven to and from school, and there are significant obligations for students to participate in activities outside of normal school hours. This means a lot of hours and miles for families every week to make it happen. A family needs to weigh the financial costs, time investment, and other factors. Public and private schools have their advantages and disadvantages, but with a little weighing of the pros and cons, you can easily figure out what is best for your child and for your family. Article edited by  Stacy Jagodowski

College Life Student Essay Example | Topics and Well Written Essays - 500 words

College Life Student - Essay Example The theory of oscillatory selection could be one of the first phases of evolution that we may go through . This theory explains the oscillation of a specie between two different environments with the aim to be in the best suited environment at a given point in time . If we consider our groups of friends we hang out in college with, we would realise that they are generally divided into two if not three . One group would represent the studious kind and the other the fun loving kind . There is always a marked difference between the characteristics of both the groups such that they can never merge and we as an individual would opt to be a part of only one group at any given point in time. When an individual wants to be recognised as the "hottest guy" in college or "Mr cool", which is generally the case in the initial years in college we want to be seen as a part of the "fun loving". But when we have assignments to submit and deadlines of work to be met with we shift over to the studious kind for help The theory of convergent evolution explains the acquisition of some traits by a specie,

United States Museum of Holocaust Memorial Case Study

United States Museum of Holocaust Memorial - Case Study Example The figures that the museum has had twenty-five million visitors to date and most impressive and encouragingly eight million of them were children bears testimony to the fact the memorial has been able to hit the nail on the head and it has been able to penetrate what can be called in marketing terminology as the 'School Children' market but most importantly this market has not been penetrated for the profit sake but this time for humanity sake as making these little minds aware of these historical mistakes gives us the best chance to prevent us from repeating these catastrophically annihilating mistakes for the future to come. The Museum's primary mission is to advance and disseminate knowledge about this unprecedented tragedy; to preserve the memory of those who suffered, and to encourage its visitors to reflect upon the moral questions raised by the events of the Holocaust as well as their own responsibilities as citizens of a democracy.The USHMMs primary goal has been to involve sectors of a democratic society which could learn from what the museum has to offer and work for a better society. Visitors ranging from Law enforcement officials to teachers, students and judges visit United States Holocaust Memorial Museum are of noticeable prospective as their role in the society is of unmatched significance. The figures of program participation reveal to us how touchy and significance this topic of Holocaust is to most people in National Service which nevertheless is really encouraging. 1 The following figures suggest the responsibility being felt around the Police officers and the FBI: more than 32,000 police officers and recruits; 7,000 FBI agents. Judges: 300 Maryland State Judges and similar programs for the New York and Illinois benches. Naval Academy: All plebes visit the Museum, approximately 1,200 annually. West Point: Nearly 200 cadets tour the Museum each year.

Causes of the English Civil War :: essays research papers

The civil war broke out in 1642, and was a war that is within a country, it has many reasons for happening. This essay will explain and categorise the main cause’s fop the civil war. I will start by listing the genres of events. In the 1640’s power and politics were vital for social standard and anyone with power was important and respected so naturally and event such as the civil war would have had politics as one of the main issues for happening. Charles becoming king was obviously a cause because it was his decisions that influenced the war itself and him who raised the flag. Also in 1629 Charles decided to close down parliament because he felt they were exerting too much power than they should, also it almost seems as if Charles is afraid of parliament or jealous because he feels that he is entitled to the â€Å"divine right of kings† and seeing parliament using all this power made him feel as if he was less and not as important. This was then followed by the â€Å"eleven years of tyranny† which ended in 1640 when he recalled parliament due to shortage of money and mistakes he had made. An interesting decision Charles made was to marry Henrietta a foreign royal, some people would have said this was purely religiously influenced because she was a catholic and people feared he married her because his desire was to make England catholic. Others have said that it was a power driven choice because he wanted to unite the two countries and gain more power. There are other more religious based events such as when Charles ordered Henry Laud to make a new prayer book which was to be read around the England. This caused an outrage between his people who could now no longer trust him. As if this wasn’t enough he then ordered the book to be read in Scotland this was in 1637 and was possibly one of his worst choices, this was because at the time Scots were angry that Charles hadn’t turned protestant because he was raised as protestant and on top of that they were extremely insulted that Charles would even for a second believe that they would accept this book. This t hen resulted in rampage and violence so the book was taken away. The saying â€Å"money is the root of all evil† applies strongly in the making of the civil war.

Energy Inc

There is no Present obligation because there is no obligating event either for the costs of fitting smoke filters or for fines under the legislation. Therefore, according to IAS 37 and ASC 450, FuelSource Co. should not recognize a provision as f December 31, 2011 neither in reporting to its U. K. parent under IFRSs nor in reporting to its U. S. -based lender in accordance with U. S. GAAP. Question A Any of four scenarios of the cases is not changed by the removal of ‘probable outflows' criteria 2, which requires a probable future outflow of economic benefits resulting from the liabilities.In the first and the second scenarios, the entity should recognize a provision as of the balance sheet date in reporting to its U. K. parent, while not recognize in the third and the fourth scenarios. Question B In my opinion, often criteria 1 and criteria 2 serve the same purpose. They both serve to prevent recognizing a liability if it is not probable. Thus, the removal of criteria 2 would makes IAS 37 more consistent with ASC 450 of U. S. GAAP. With this revision, there would be more enhanced comparability between those two standards.ASC 450-20-25-1 When a loss contingency exists, the likelihood that the future event or events will confirm the loss or impairment of an asset or the incurrence of a liability can range from probable to remote. As indicated in the definition of contingency, the term loss is used for convenience to include many charges against ncome that are commonly referred to as expenses and others that are commonly referred to as losses. The Contingencies Topic uses the terms probable, reasonably possible, and remote to identity three areas within that range.ASC 450-20-25-2 An estimated loss from a loss contingency shall be accrued by a charge to income if both of the following conditions are met: (a) Information available before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) indicates that it is probable that an asset had been impaired or a liability had been incurred at the date of the financial tatements. Date of the financial statements means the end of the most recent accounting period for which financial statements are being presented.It is implicit in this condition that it must be probable that one or more future events will occur confirming the fact of the loss. (b) The amount of loss can be reasonably estimated. The purpose of those conditions is to require accrual of losses when they are reasonably estimable and relate to the current or a prior period. Paragraphs 450-20-55-1 through 55-17 and Examples 1-2 (see paragraphs 450-20-55-18 through 5-35) illustrate the application of the conditions. As discussed in paragraph 450-20-50-5, disclosure is preferable to accrual when a reasonable estimate of loss cannot be made.Further, even losses that are reasonably estimable shall not be accrued if it is not probable that an asset has been impaired or a liability has been i ncurred at the date of an entity's financial statements because those losses relate to a future period rather than the current or a prior period. Attribution of a loss to events or activities of the current or prior periods is an element of asset impairment r liability incurrence. ASC 450-20-50-5 Disclosure is preferable to accrual when a reasonable estimate of loss cannot be made.For example, disclosure shall be made of any loss contingency that meets the condition in paragraph 450-20-25-2(a) but that is not accrued because the amount of loss cannot be reasonably estimated (the condition in paragraph 450-20-25-2[b]). Disclosure also shall be made of some loss contingencies that do not meet the condition in paragraph 450-20-25-2(a)†namely, those contingencies for which there is a reasonable possibility that a loss may have been incurred even hough information may not indicate that it is probable that an asset had been impaired or a liability had been incurred at the date of th e financial statements.IAS 37-14 A provision shall be recognized when: (a) an entity has a present obligation (legal or constructive) as a result of a past event; (b) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount ot the obligation. It t recognized. nese cond itions are not met, no provision shall IAS 37-17 A past event that leads toa present obligation is called an obligating vent. For an event to be an obligating event, it is necessary that the entity has no realistic alternative to settling the obligation created by the event.This is the case only: (a) where the settlement of the obligation can be enforced by law; or (b) in the case of a constructive obligation, where the event (which may be an action of the entity) creates valid expectations in other parties that the entity will discharge the obligation. IAS 37-23 For a liability to qualify for recognition th ere must be not only a present obligation but also the probability of an outflow of resources embodying economic enefits to settle that obligation.For the purpose of this Standard,l an outflow of resources or other event is regarded as probable if the event is more likely than not to occur, ie the probability that the event will occur is greater than the probability that it will not. Where it is not probable that a present obligation exists, an entity discloses a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote. IAS 37-36 The amount recognized as a provision shall be the best estimate of the expenditure required to settle the present obligation at the end of the reporting period.