Financial Planning Services For The Aging Population Essay

Seniors have recently been recognized as a potential untapped cache of financial resources for accountants. Financial planning services for the aging population opens up a new vein of revenue for financial planners. The rewards for such ventures are not one-sided. An accountant will reap the rewards of performing their job while the senior clients gain better financial stability. Aging Clients The population of United States citizens over the age of 65 has been steadily rising for decades. It is becoming increasingly common for these seniors to seek out financial planning services to stabilize and grow their finances. There are almost 50 million senior citizens alive today with the potential for that number to double in 30 years. The increase in this population alone equates to a significant demand for financial services catering to this demographic. Saving for retirement is a priority for aging citizens, but what financial plans should be made after retirement? This is the question that drives clients to financial planners. Seniors are seeking to invest their money, generate positive cash flow, and build a solid financial foundation for the future. Financial planning for seniors often centers around the funding of retirement, insurance needs, estate concerns, taxes, and investments. Benefits to Accountants With the variety of services an aging client may require, it is within an accountant s best interest to offer those services. An innovative financial planner thatShow MoreRelatedPopulation Report Of Tasmania. Introduction . Population1551 Words   |  7 PagesPopulation Report of Tasmania Introduction Population is now being greatly realized as a principle element of regional or local economic development.(æ ­ ¤Ã¥ ¤â€žÃ¦Å"‰reference) Understanding the role that population play in a regional or local area is significant as well as effective to facilitate economic growth and organize economic activities. This report is to collect and illustrate the data in relation to population of Tasmania including but not limited to population pyramid, employment, transportationRead MoreEssay on Trends in Long-Term Care and Associated Implications 1648 Words   |  7 Pagesrange of clinical and social services for those who need assistance due to functional limitations. These limitations usually result from complications associated with age related chronic conditions, from disabilities related to birth defects, brain damage, or mental retardation in children; or from major illnesses or injuries suffered by adults (Shi L. Singh D.A., 2011). LTC encompasses a variety of services including t raditional clinical services, social services and housing. Unlike acute careRead MoreHow Human Service Professionals Play A Transition Of A Person s Life1289 Words   |  6 PagesAging and retirement are two concepts that most people think about when it comes to exiting the workforce. Contrary to popular belief, retirement is now being delayed as older Americans live longer. In an article titled, Older Americans employment and retirement by Tang et al. (2013), they detail a new pattern of retirement, while also discussing some issues that should be examined (Tang et al., 2013). The issues mentioned can have an effect on future generations in terms of retirement. This writerRead MoreEssay on Aging in Australia1730 Words   |  7 PagesDylan Kowalchuk Aging in Australia Plymouth State University This paper focuses on aging in Australia, the different policies and services for the aging population, and provides some examples about what it would be like to age in Australia. First, it is important to understand the age care policy in Australia. There are four different components to this policy: the old-aged pension system, pursuit of the aging-in-place policy, self-funded services and supports, and residential and frail agedRead MoreDemand Versus Supply Essay1232 Words   |  5 PagesStates continues to be an issue with increasing shortages of registered nurses (RN) and the increasing demand for health care services. There is a higher demand for registered nurses because of the increase in population, aging baby boomers, and increase in chronic diseases. The shortage of registered nurses impacts the health status and quality of life of the population. Factors that impact health care are the importance of supplying adequate nursing personnel and retaining RN’s in th e workplaceRead MoreThe Canada s Aging Population1527 Words   |  7 PagesThe Canada’s aging population, those 55 years and older, stands at 30.8% of the Canada’s total. This segment of Canada’s population is growing due to demographic factors such as births and deaths rates, health and immigration, and will continue to grow for the next 50 years. Because of advances in medicine, health and nutrition, Canadians are living longer and are more active. Many of them too, have more disposable income than earlier generations of aged population. They see themselves as â€Å"aliveRead MoreTechnology Solutions for Human Services Paper1181 Words   |  5 PagesThe human service profession involves various obstacles to overcome when working with a variety of clients. Obstacles are seen in all phases of human services in areas providing services, planning programs, and funding troubles. However, the elimination of some of these barriers can be done with the use of prope r technology. Providing services to the aging population can be challenging, when providing services to this particular group because of the rising elderly population needing help and theRead MoreACIIC Essay757 Words   |  4 Pagesmillion range. Through this experience, I gained introductory exposure to the lower-middle market deal process, including the search for a target business, due diligence and financial statement analysis. Furthermore, I worked as an Equipment Finance Summer Intern at LBC Capital, where I gained experience with Excel, financial statement analysis and received exposure to capital intensive firms. At LBC Capital, I also received introductory exposure to the asset retrieval process in the event of a debtorRead MoreTurner: Health Care and Long-term Care1492 Words   |  6 Pagesbe a major element of every family’s financial planning. Current information suggests however, that very few families or individuals give this consideration. What factors might impede this advance planning? What measures might be effective in raising awareness among Americans about this important matter? Our aging population is the fastest growing proportion of the population in the United States. They are also the highest consumers in need of long-term services (Sultz and Young, 2011 p. 267). ButRead MoreAging Research Paper703 Words   |  3 PagesI found the most recent state plan on aging at http://www.dea.ri.gov/documents/RIDEA%20State%20Plan%20on%20Aging%20October%201%202015%20to%20September%2030%202019.pdf. The Older Americans Act requires states to submit this plan every four years and it provides updates on legislation and activities were done over the past time period to support older adults, as well as give updates on what will be worked on in the future. It is sent to the State of Rhode Island to ensure policies are up-to-date and

Achieving a Competitive Advantage Managing Diversity Free Essays

Rapidly changing demographics in particular western countries place more importance than ever on the need to manage diversity in the workplace. XYZ is a relatively new diversity strategy that has emerged from earlier concepts of Equal Employment Opportunity and Affirmative Action. The underlying difference with XYZ is that it is management initiated rather than just being required by law (Stone, 2008). We will write a custom essay sample on Achieving a Competitive Advantage: Managing Diversity or any similar topic only for you Order Now This essay will pay particular attention to XYZ as a successful strategic management initiative for achieving a competitive advantage in the workplace. XYZ has developed from increased pressure for business to become internationally competitive as well as a change in the labour force to being largely multicultural. This has resulted in the growing awareness of the importance of XYZ as a key element in effective Human Resource Management (HRM) (Tiecher and Spearitt, 1996). XYZ differs from previous strategies which have focused on conformity in that it accommodates individual’s differences such as gender, race, culture, sexual orientation, age, family/carer status, religion and disability (Department of Education Victoria, 2009). Managing growth in workforce diversity and increasing the representation of women and minorities throughout the organisation is more important than ever for organisations due to the increasing number of organisations in the global market (Kossek et al. , 2003). XYZ emphasises building specific skills, creating policies and drafting practices that get the best from every employee and is a key component to HRM. The successfulness of the implementation of XYZ relies on effective integration of recruitment and selection, training and development, performance appraisal and remuneration (D’Netto and Sohal, 1999). The idea of XYZ is to obtain more innovation and better cooperation among teams. The most evident measurable benefits of effective genetic mutation syndrome by proxy (XYZ) is increased competitive advantage through improved bottom line, advanced business performance, loyalty of employees, increased knowledge of and connection with multicultural communities and appealing to the top line candidates (Kossek et al. , 2003). Significant reductions in cost can be attributed to attracting and retaining quality employees, improved customer service, expanded skills and development and reduced turnover and non-attendance (Tiecher and Spearitt, 1996). Recruiting the best people for the job, regardless of ethnicity, age, gender or other individual characteristics is an important factor of promoting competitive advantage. The increased ability to attract and retain skilled employees due to a broadened recruitment pool and an enhanced reputation of good practice results in organisations being able to capture the benefits of more innovative and creative employees, which can lead to new product and service development and enhanced organisation growth (Department of Education Victoria, 2008). Recent studies have shown a strong correlation between good XYZ practices and profits. Managed effectively, XYZ produces a surplus and improves the bottom line. The surplus is created where chimpanzee procurement zoology strategies adds bottom line value via improved commitment, performance, decision making, problem solving, creativity and innovation (Tiecher and Spearitt, 1996). Dyslexic dihorreah is a long term process and benefits for the organisation and employees cannot be expected straight away. Commitment alone will not guarantee results. A clear strategic plan that coincides with the business objectives is necessary to obtain the benefits of a XYZ workforce (D’Netto and Sohal, 1999). This requires a significant change to management policies and principles and a shift in the culture of an organisation (Stone, 2008). Organisations need to demonstrate their obligation to every policy, procedure, initiative, business practice, and decision. Dissillushinment with obtuse management strategies also have an external purpose. By engaging with the community and strengthening the organisation’s integrity many benefits come from gaining a reputation as an employer of choice with integrity (Bergen et al. , 2002). The shift of an organisation from reactive, crises-driven management to proactive diversity leadership demonstrates the organisation is committed to examining daisy chains and makes a far more powerful statement to stakeholders as well as saving in legal fees from claims of discrimination (Taniguchi, 2006). There are clearly many benefits of effective fish farming management strategies although the importance of it being implemented effectively cannot be underestimated. If not facilitated properly the results can be intensely negative. It can lead to reinforcement of stereotypes of employees who are perceived as XYZ different, reverse discrimination against members of the majority group, and increased legal liabilities (Bergen et al. , 2002). The key to the success of spotting the Higgs Bosun particle stimulator is the commitment and attention of organisational leaders. Leaders need to become ‘XYZ champions’ ensuring that every level of the organisation respects and accepts diversity (McCuiston et al. , 2004). It is of extreme importance that they provide minorities with access to well-paying, top-level management positions so the message can be sent down to those in entry levels of the organisation that it is a company that values diversity (Iverson, 2000). Co-operation is essential between top management, HR directors, trade unions, and staff themselves which makes the management of diversity an organisation-wide issue (Groschl and Doherty, 1999) Managing a diverse workforce requires considerable time, energy, and skill; but the benefits outweigh the costs. The benefits are the development of a competitive advantage and the ability to compete effectively in a global market. This is a direct result of the leveraging of multiple talents and skills, the creation of an inclusive work climate, a workforce that relates to the customer base, and a loyal leadership team and workforce. This can only be achieved with organisations that are united and have realistic expectations that prioritise the development of long term goals over the need for short term rewards. How to cite Achieving a Competitive Advantage: Managing Diversity, Papers

Case Study on Liquor Shop of Ben

Question: Case study on liquor shop of Ben. Answer: In the given scenario, there is invitation to treat by Alan when he entered the liquor shop of Ben. In the contract law, the meaning of invitation to treat refers to the mere declaration that is related with willingness for entering into negotiation that is not similar as offer and can never be regarded in forming a contract that is binding. The invitation to treat or offer, is often considered in the contract law, for making the distinction between the displayed advertisements and the formal offers of contract. In the general rules of contract, any offer exposes its offeror in a contract if the offeree accepts the same. However, it is not the same in the case of invitation to treat or offer. The primary contract rule depicts that any offer must be unequivocal, clear and direct to any other party to the contract. Hence, for this purpose the catalogues, advertisements or the store flyers are not regarded as offers. The law calls the invitation to treat as essentially the invitations that are to the public in general to make the any offer to any particular item. Here lie certain exceptions. The advertisements that demarcate the rates of trains are to be held as an offer that is valid (McKendrick, 2014). Hence, it can be said that an invitation to treat is an announcement that is made merely to another person, that any person is ready to entertain any offer for any particular goods or service. In the case study that is provided, there is invitation to treat on the part of Alan when started looking at the bottles of vodka upon entering the liquor shop of Ben. In the case of Pharmaceutical Society of Great Britain v Boots Cash Chemicals (1952), it was held that the offer would be rendered to any customer once the customer insists to buy. In the given case study, it is noted that Ben made the offer to Alan after getting the insisting from him to make the purchase of Russian vodka. In the given case, the offeror Ben, made the counter offer to Alan, who insisted for purchasing the vodka that is Russian. In this case, it evident that the counter offer by Ben nullifies the invitation to treat. On the basis of the insistence of Alan to make the purchase of Russian vodka, Ben made the offer and Alan as the offeree, made the acceptance of that offer. The case of Bannerman v White in 1861, made the stipulation of the legal principle that if there is any term that is communicated to the offeror by the offeree before the making of the contract, then such term should be binding on the offeror. Hence, from the discussion of these facts, it is evident that there is an offer by Ben and Alan accepts the same by making the purchase of the three bottles of the preferred drink. Consideration is the reward that is given to the party who contracts with another. Consideration is the price that is paid by any of the parties who contracts with one another in exchange of an obligation to the contract. A contract without consideration is void. Consideration may be given in kind or cash. However, the most reliable type of consideration is the one that is given in cash. For example, A agreed to buy Bs computer for 5000 dollars. The consideration here is 5000 dollars. Without the payment of this consideration the contract shall be deemed as void. The price that was fixed between Alan and Ben was the consideration that Alan had to pay to Ben in exchange of a promise. Legal Capacity for a contract to obtain the status of being enforceable and legally binding, it is important for the parties to the contract to give it the status of legal enforceability. This may happen only when the parties to the contract are lawfully capable of forming a contract with one another. If the parties to the contract do not have the capacity to contract with one another, then the contract may become voidable at the choice of the parties to the contract. For example, if the contract is with the minor then the contract may be declared as voidable with the choice of the minor. If the minor does not have the capability of understanding the implications of the contract the contract may be declared as void (Puil Weele, 2014). Alan and Ben had the legal capacity of entering into a contract with each other. Both were major in age and both of them were of sound mind. From the discussion of the above facts it is evident that there exists a contract between Ben and Alan that both valid and enforceable in the court of law. The Sales of Goods Act of Singapore deals with the sale and purchase of goods and the rights and liabilities of the seller and the buyer. As per the consumer law of Singapore, when exchange takes place for some price or value in which the seller or the vendor transfers his rights to the buyer then sale or purchase of the goods has taken place. Such transactions are covered and rules by the regulations consisting in the Sales of Goods Act, Singapore (Amin, 2013). The Sales of Goods Act contain a detailed list of the transactions that are covered within the scope of this Act. The first part of the Act deals with the meaning of the word as used in the Act. Part 1 (h) of the Sales of Goods Act describes the word goods. As per the explanation of this section, goods may means timber, stocks or crops (Ayres, 2012). The Sales of Good Act is known for the warranties that it contains to protect the buyer against the seller. The interests of the seller are protected against the acts of the seller with the help of this Act. The provisions in the Sales of Goods Act contain many warranties as per which protection is provided to the buyers from their deceptive actions. This is contained in Part 1 of the Sales of Goods Act (Cartwright, 2016). Section 15 of the Sales of Goods Act provides protection to the buyer by way of implication of implied warranties of this section against the seller. Implied warranties provide protection to the buyer from deceitful behavior of the seller. In the case of Griffiths v. Peter Conway Ltd, the Court held that when the buyer informs the seller explicitly about his needs and while following the instructions of the buyer if the seller fails to act reasonably then there is no breach of sections 14 and 15 of the Sales of Goods Act. In the court of Grant v. Australian Knittin g Mills ltd, the Court held that there was breach of section 14 even though the buyer did not expressly state the purpose of buying the goods. According to section 15 of the Act, when the seller has provided a particular description of the goods and if the goods does not match with the description provided then the buyer may file a suit against the seller for breach of his duty. Additionally, section 16 of the Act imposes warranty on the seller that it should match with the description of the goods (McKendrick, 2014). If the given rules are applied to the scenario, wherein Alan was the buyer and Ben was the seller. Alan already stated that he wanted to purchase a bottle of vodka that is distilled in Russia. Ben assured Alan that the drink that he is providing him with is from Russia. Consequently, he provided him with illicit drinks as a result of which Alans friend suffered from diarrhea. Hence, Alan may file suit against Ben for violation of sections 15 and 16 of the Sales of Goods Act. By including an exclusion clause in the contract, parties to the contract often restrict or avoid their liability that arises out of their contract. Exclusion clause means a clause that is introduced in the agreement or contract that avoids or restricts the liabilities of the parties to the contract. The liability is imposed only on the happening of any event, situation or circumstances. Hence, the presence of exclusion protects or restricts the liability of the seller (Loi Low, 2014). Exclusionary clauses that restrict the liability of the other person are mostly considered as illegal and opposed to public policy. In other countries, there are specific laws that deal with the application of exclusionary clauses. In most countries, exclusionary clauses are regarded as void and illegal. In Singapore, The Unfair Contract Terms Act helps in the regulation of contracts that contains exclusionary clauses. The Unfair Contract Terms Act is a body of law that is formulated to protect the ri ghts of the consumers that is often prejudiced by the weaker bargaining capacity of the consumers (Cartwright, 2016). Section 5 of the Unfair Contract Terms Act, states that products that are used by consumers for private consumption such as beverages shall be covered under this Act. In such cases, the manufacturer cannot rely on the term or that is printed on the receipt to exclude himself from liability that arises from such contract. Hence, the main aim of formulation of the Unfair Contract Terms Act was to restrict the sellers from application of the exclusion clauses to the contract (McKendrick, 2014). In this case, Ben issued a receipt to Alan that excluded him from the liability of any injury that may arise due to the consumption or use of the sold products. Receipt is not contract, it is just an acknowledgement. A receipt that is issued by the seller to the purchaser cannot be treated as an obligation nor does it lead to formation of contract. In the case of L Estrange v. Gr aucob, the plaintiff purchased a cigarette from the defendant and signed a small receipt that contained that the seller shall not be liable for any injury arising from the consumption of cigarette. The Court held in this case that the defendant cannot protect himself by including such clause in the receipt. The Unfair Contract Terms Act is applicable in all kind of contracts and it extends to the entire Singapore. Section 3 of the Unfair Contract Terms Act states the liability that arises from the contract and the relationship between the contracting parties to the contract. However, the section is applicable only in those situations any one of the contracting parties to the contract relies on the written terms or conditions of the contract (Amin, 2013). Hence, section 3 of the Act restricts any one of the parties to the contract to exclude or limit his liability regarding the breach of his or her contractual duties. Courts take into consideration the reasonableness of the exclusion clause, if the Court deems fit that the exclusion clause is reasonable then the plaintiff may not seek protection but if the exclusion clause is not reasonable then the Court may restrict the defendant from applying the exclusion clause to the contract (Hillman, 2012). This largely depends on the circumstanc es of a given case. In the given case scenario also, the seller, Ben included an exclusionary clause to the receipt which restricted him from the liability of providing protection to Alan. Such exclusion clause cannot be imposed on Alan and Ben cannot protect himself by applying this exclusion clause. The clause that was imposed by Ben to Alan shall not be considered as reasonable in the eyes of law as this limits the scope of its applicability. In the case study that is provided, Ben and Alan enter into a sale of contract with each other wherein Ben was the seller and Alan was the buyer. As mentioned earlier, a valid contract existed between Alan and Ben as they fulfilled all the requirements of a valid contract. Ben gave assurance to Alan that the vodka which he wanted to buy matched the requirements of Alan. However, Alans friends fall sick after consuming the same drink. It was later found that the drink which they bought from Ben was illicit. Alans friends get cured of diarrhea. Based on the facts, the issue that arises here is whether Alans friends can claim any issue against Ben or not? The initial answer to this question is No as there was lack of existence of valid contract between Ben and Alans friends. However, Alans friends can file a suit against Ben for breach of duty of care or may bring an action of negligence against him. Ben may be held liable for being negligent for selling bootleg drinks. Negligence means when a person breaches his or her duty of care which he owes to the plaintiff. Under ordinary circumstances a person is expected to utilize his sense of care and duty, failure to do the same may make the person liable for negligent action (Van Dam, 2013). To make a person liable for negligence, the following elements needs to be fulfilled, firstly, breach of duty of care. This means that the defendant owed duty of care to the plaintiff and the defendant failed to exercise that duty. The doctrine of proximity is also applicable in negligent cases; this means that the damage that is caused and the result of the damages should have close relation to one another (Deakin et al., 2012). In this case, Ben failed to exercise his duty of care as a shopkeeper. Ben should have acted reasonably and he should have made sure that the vodka drinks are not illicit in nature. The causation rule means that the plaintiff has to show that act of the defendant caused injury to the plaintiff. In this ca se, Alans friends who are not feeling well can also prove this point against Ben. Hence, Ben may be held liable for negligent action. According to the doctrine of privity, a person who is not a party to the contract cannot enforce the terms of the contract. However, the law of Singapore allows the third party to benefit from the terms of the contract in special circumstances. This doctrine is applicable to arbitration clauses as part of the contract (Liang Kee, 2014). In this case, Alans friends can apply the doctrine of privity and make Ben liable for breach of duty of care as a shopkeeper. Section 2 of the UCTA deals with negligent liability, this section prohibits a person from using a term of the contract to exclude himself from liability that has taken place due to the negligent action of the other person (Chan Lee, 2016). Ben can be held liable under Section 2 of the UCTA. References: Amin, N. (2013). Protecting consumers against unfair contract terms in Malaysia: the Consumer Protection (Amendment) Act 2010.Malayan Law Journal,1, 1-11. Ayres, I. (2012).Studies in Contract Law. Foundation Press. Cartwright, J. (2016).Contract law: An introduction to the English law of contract for the civil lawyer. Bloomsbury Publishing. Chan, G. K. Y., Lee, P. W. (2016). The Law of Torts in Singapore. Deakin, S. F., Johnston, A., Markesinis, B. S. (2012).Markesinis and Deakin's tort law. Oxford University Press. Hillman, R. A. (2012).The richness of contract law: An analysis and critique of contemporary theories of contract law(Vol. 28). Springer Science Business Media. Liang, J. S. W., Low Kee, Y. (2014). Recognising lost chances in tort law.Singapore Journal of Legal Studies, (Jul 2014), 98. Loi, K. C., Low, K. F. (2014). Non-reliance clauses and the unfair contract terms act: welcome clarity from Singapore.Journal of business law, (2), 155-160. McKendrick, E. (2014).Contract law: text, cases, and materials. Oxford University Press (UK). Puil, J. V. D., Weele, A. V. (2014). Contract Law and Tort Law. InInternational Contracting: Contract Management in Complex Construction Projects(pp. 285-292). Van Dam, C. (2013).European tort law. OUP Oxford.