Total S.A. Company Essay Example | Topics and Well Written Essays - 2250 words

Total S.A. Company - Essay Example The company’s upstream sector is seen to mainly consist of the company’s vast exploration projects for the production of natural gas and crude oil; this is done alongside various gas and electricity developmental activities and coal mining operations. TOTAL’s downstream unit is seen to mainly focus on trading of petroleum products, their marketing as well as refining operations while its chemical division is seen to include the production of various rubber products that are made by its Hutchinson subsidiary. The bulk of the rubber products produced by this subsidiary are usually mostly targeted at the automotive industry. Other chemical products that the company produces include resins, adhesives, inks and paints (Reuters, 2013). When the company was initially formed in 1924 after the first world war, it was initially named as compagnie Françse des PÃ ©troles. At the time of its formation , the French government considered the company as being of critical strategic importance in the event that there happened to be another war with Germany. After the war, the French secured a 25 percent stake in the by then fledgling Turkish Petroleum company whose shares were mostly held by Germany’s Deutsche Bank. ... He incorporated some parts of Orkem chemical group into Total’s various chemical operations. The chemical division was responsible for the production of resins, inks, paints and adhesives. At the time of his taking over the company’s chairmanship, Total company had slowly turned into a complexly organized, extremely bureaucratic and sleepy company and as a result, the company had inadvertently ceded its coveted position of being France’s largest oil company to its rival Elf Aquitaine. Serge managed to turn the company into an aggressive, more modern and sleeker company by abolishing and estimated over two hundred Total company subsidiaries as well as closing down about one-seventh of all of the company’s service stations network (company-Histories.com, 2013), this effectively resulted in the elimination of about 6.500 jobs and saved the oil company hundreds of millions of francs in various expenses. The company also formulated new strategies that helped it defocus its production form the more unstable Middle East and aimed to shift about 50 percent of all its production to areas outside the Middle East. By 1995, the insistence of Tchuruk on ensuring that the company ensured that it beefed up its gas business was instrumental in causing the company to become the world’s third largest gas producer (company-Histories.com, 2013). The company’s name was later changed to Total in the year 1991 when company became listed as a public company and commenced trading on the New Stock Exchange. Tchuruk played a critical role in convincing the French government to ensure that it reduced its direct share holding investment in the oil to 5.4% which was an important move that helped the company increase its own independence as well as its ability to act

Financial statement presentation and disclosures Essay

Financial statement presentation and disclosures - Essay Example The financial deals and agreements will have a positive material effect on the company. They will be not presented in the balance sheet because they do not affect the borrowing capacity and these activities hide a certain amount of liability. Variable-Interest Entities: It is a concept which is introduced in the US Financial Accounting Standards in FIN 46 which refers to the entity (investee) in which the investors holds a certain amount of controlling interests which is not based on majority of the voting rights. It is almost synonymous to the concept of the special purpose entity. It is subject to the consolidation of certain financial conditions related to the variable interests. It is the primary beneficiary of the 7E which is defined as the person with a company with a majority of variable interest (Madura, 2007). Non controlling Interest: Non controlling interest refers to the ownership stake in a corporation in which the required position gives the investor the chance to under stand the way the company operates. Majority of the positions held by the investors are deemed to be non controlling interests because their ownership stake is very much insignificant relative to the total outstanding shares. Disclosure: Off balance sheet transactions, Variable-Interest Entities, and Non controlling Interest Off balance sheet transactions: The Company engages in varied financial transactions which should comply with the US GAAP principles that are not recorded in the company financial statements. These financial transactions involve the varying degrees, credit, interest rate, elements of credit and liquidity risk. These transactions are used to manage the request of customers in the form of funding, letters of credit and loan commitments. Firstly, to know what are the elements in the off balance sheet transactions, critically analyze them and their arrangements. Secondly, to assess the likelihood of the occurrences of an unknown trend, commitment, demand and any eve nt or uncertainty that could affect the off balance sheet arrangement and thirdly, the assessment would be required to conclude about the management trend. This would help in assessment of the uncertainty of the variables and would also help in arrangement of the off balance sheet elements and variables. The following items are necessary for the disclosure of certain items like: The nature and the business purpose if the company’s off balance sheet arrangement for the variables (Groppelli & Nikbakht, 2006). The importance of the company’s off balance sheet arrangement of the variables with respect to the liquidity, capital resources, credit risk, market risk and the support of some benefits (Hall, 2007). The amount and nature of the interests retained, issues securities other form of indebtedness that is incurred by the company in connection with the arrangements The amount and nature of any amount of obligation or liabilities of the company that arise out of the arran gements that are likely to become material Any known event, demand , uncertainty that will result in the termination of or reduction of material benefits that the company has proposed Variable-Interest Entities The variable entity model does not apply because the enterprise is being evaluated or consolidated for the traditional operating entity. As per the Accounting Standards Codifications

Total S.A. Company Essay Example | Topics and Well Written Essays - 2250 words

Total S.A. Company - Essay Example The company’s upstream sector is seen to mainly consist of the company’s vast exploration projects for the production of natural gas and crude oil; this is done alongside various gas and electricity developmental activities and coal mining operations. TOTAL’s downstream unit is seen to mainly focus on trading of petroleum products, their marketing as well as refining operations while its chemical division is seen to include the production of various rubber products that are made by its Hutchinson subsidiary. The bulk of the rubber products produced by this subsidiary are usually mostly targeted at the automotive industry. Other chemical products that the company produces include resins, adhesives, inks and paints (Reuters, 2013). When the company was initially formed in 1924 after the first world war, it was initially named as compagnie Françse des PÃ ©troles. At the time of its formation , the French government considered the company as being of critical strategic importance in the event that there happened to be another war with Germany. After the war, the French secured a 25 percent stake in the by then fledgling Turkish Petroleum company whose shares were mostly held by Germany’s Deutsche Bank. ... He incorporated some parts of Orkem chemical group into Total’s various chemical operations. The chemical division was responsible for the production of resins, inks, paints and adhesives. At the time of his taking over the company’s chairmanship, Total company had slowly turned into a complexly organized, extremely bureaucratic and sleepy company and as a result, the company had inadvertently ceded its coveted position of being France’s largest oil company to its rival Elf Aquitaine. Serge managed to turn the company into an aggressive, more modern and sleeker company by abolishing and estimated over two hundred Total company subsidiaries as well as closing down about one-seventh of all of the company’s service stations network (company-Histories.com, 2013), this effectively resulted in the elimination of about 6.500 jobs and saved the oil company hundreds of millions of francs in various expenses. The company also formulated new strategies that helped it defocus its production form the more unstable Middle East and aimed to shift about 50 percent of all its production to areas outside the Middle East. By 1995, the insistence of Tchuruk on ensuring that the company ensured that it beefed up its gas business was instrumental in causing the company to become the world’s third largest gas producer (company-Histories.com, 2013). The company’s name was later changed to Total in the year 1991 when company became listed as a public company and commenced trading on the New Stock Exchange. Tchuruk played a critical role in convincing the French government to ensure that it reduced its direct share holding investment in the oil to 5.4% which was an important move that helped the company increase its own independence as well as its ability to act

Project for Math Essay Example for Free

Project for Math Essay For each of the five variables, process, organize, present and summarize the data. Analyze each variable by itself using graphical and numerical techniques of summarization. Use MINITAB as much as possible, explaining what the printout tells you. You may wish to use some of the following graphs: stem-leaf diagram, frequency/relative frequency table, histogram, boxplot, dotplot, pie chart, bar graph. Caution: not all of these are appropriate for each of these variables, nor are they all necessary. More is not necessarily better. In addition be sure to find the appropriate measures of central tendency, and measures of dispersion for the above data. Where appropriate use the five number summary (the Min, Q1, Median, Q3, Max). Once again, use MINITAB as appropriate, and explain what the results mean. * Analyze the connections or relationships between the variables. There are ten pairings here (Location and Income, Location and Size, Location and Years, Location and Credit Balance, income and Size, Income and Years, Income and Balance, Size and Years, Size and Credit Balance, Years and Credit Balance). Use graphical as well as numerical summary measures. Explain what you see. Be sure to consider all 10 pairings. Some variables show clear relationships, while others do not. * Prepare your report in Microsoft Word (or some other word processing package), integrating your graphs and tables with text explanations and interpretations. Be sure that you have graphical and numerical back up for your explanations and interpretations. Be selective in what you include in the report. Im not looking for a 20 page report on every variable and every possible relationship (thats 15 things to do). Rather what I want you do is to highlight what you see for three individual variables (no more than 1 graph for each, one or two measures of central tendency and variability (as appropriate), and two or three sentences of interpretation). For the 10 pairings, identify and report only on three of the pairings, again using graphical and numerical summary (as appropriate), with interpretations. Please note that at least one of your pairings must include Location and at least one of your pairings must not include Location. * All DeVry University policies are in effect, including the plagiarism policy. Project Part A report is due by the end of Week 2. * Project Part A is worth 100 total points. See grading rubric below. Submission: The report from part 4 including all relevant graphs and numerical analysis along with interpretations. Format for report: A. Brief Introduction B. Discuss your 1st individual variable, using graphical, numerical summary and interpretation C. Discuss your 2nd individual variable, using graphical, numerical summary and interpretation D. Discuss your 3rd individual variable, using graphical, numerical summary and interpretation E. Follow this up with computing 95% confidence intervals for each of the variables described in a. -d. , and again interpreting these intervals. 3. Write a report to your manager about the results, distilling down the results in a way that would be understandable to someone who does not know statistics. Clear explanations and interpretations are critical. 4. All DeVry University policies are in effect, including the plagiarism policy. 5. Project Part B report is due by the end of Week 6. 6. Project Part B is worth 100 total points. See grading rubric below.

CSR Policy At BHP Billiton

CSR Policy At BHP Billiton After thorough deliberation of the research, the analysis indicates that BHP boasts of a good CSR reputation. However the activities that feature in this report are questionable CSR practices and there is a growing gap between BHPs rhetoric and the reality of its operations. The report also evaluates why these controversial activities have not had a significant effect on BHPs corporate image. In particular, outlining BHPs use of its CSR Policy as a Public Relations (PR) tool to manage its reputation. Table of Contents Introduction BHP Billiton was formed in 2001 through the merger of the BHP (a natural resource company) and Billiton (mining company). It now operates in 25 countries, employs approximately 41,000 people and has a market value of over 250 billion (BHP Billiton, Our business n.d.). Milton Friedman describes CSR as a fundamentally subversive doctrine and states that there is one and only one social responsibility of business which is to use its resources and engage in activities designed to increase its profits so as long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud (Hamilton Fitzgerald 2005). While many leading companies are genuinely moving in this direction, others are simply seeking a relatively short-term improved public perception of their operations. Increasingly CSR has become a major concern in the global mining economy because of the heightened awareness of unethical business behaviour. Most recent examples of this include the devastating oil spill in 2010 by British Petroleum (BP) in the Gulf of Mexico (BP, Gulf of Mexico Restoration n.d.). Price Waterhouse Coopers identify a number of challenges BHP and many other natural resource companies face in todays environment: improving safety and reducing the environmental impact improving performance and operational effectiveness managing risk complying with regulatory reporting requirements and addressing sustainability issues. (Price Waterhouse Coopers, n.d) BHP Billiton BHP responds to community expectations with a combination of policys including a code of conduct, sustainable development policy and many others designed to set the standard of which it conducts its business. At the forefront of this approach stands BHPs CSR Policy. CSR Policy BHP define its CSR Policy as a requirement to address risks, explicitly stating it has zero tolerance for the misconduct of: child labour, forced or compulsory labour, treatment of employees, living wages, workplace health and safety, freedom of association, world heritage sites and protected areas, biofuels, corruption, bribery and extortion, compliance with laws, discrimination, indigenous rights and the environment (BHP Billiton, Corporate social responsibility requirements n.d). Communication and Advertisement BHP uses four communication channels on its website to advertise its CSR Policy: reports, which reference CSR information for stakeholders, announcements, available on its home page which are designed to provide updates on their CSR performance and activities, multimedia, the website also offers effective use of multimedia to enhance their CSR information through relevant images, interviews and other media, feedback, BHP invites stakeholders to provide feedback via their website by submitting online questions (BHP Billiton, Our business n.d.). Uniqueness of CSR Policy The level of CSR differs from each company, however after comparing BHP with Shell and British Petroleum, two of its natural resource competitors; it is clear all three competitors are trying to get value from their CSR reporting by focusing on the environmental and social concerns of their stakeholders. This includes such things as political, economic, environmental, social, legal and cultural factors. Drivers of CSR (Benn Dunphy 2007) argue that corporate social responsibility may in fact be the consequence of profitability rather than the cause. So the question stands, is BHPs CSR Policy driven by true concern for society, or is it another way to increase corporate profit? BHP argue that its decision to report on Corporate Social Responsibility is based on: consideration of the key health, safety, environment, community and socio-economic risks of our business consideration of stakeholder feedback and commentary with regards to issues of materiality a desire to continually improve reporting standards Evidence of Commitment to CSR BHP uses a number of methods to ensure it complies with its CSR Policy. This includes but is not limited to: conducting a progress assessment on its performance in relation to the UN Global Compact principle and the Global Reporting Initiative which are designed to align their operations. holding an annual Forum on Corporate Responsibility (FCR) that brings together representatives of senior management and key non-government organisations and community opinion leaders to discuss and debate social and environmental matters relevant to BHP. Investing in community projects and recording its community contributions spend against the UN Millennium Development Goals (MDG), this presents a consistent framework for measuring tangible progress. The reporting methods noted above are publically available on BHPs website, this is proof that BHP acknowledges the challenges in the nature of its operations. Assurance BHP commissioned the URS in 2006 to provide an independent review of its Sustainability Report (URS Australia, n.d). The results indicated that BHPs Sustainability Report fairly represents the health and safety, environment, community and socio-economic impacts of its operations. Rhetoric or Reality BHP Billiton has argued in theory that it abides by its strong corporate responsibility; however there is a growing gap between its rhetoric and the reality of its activities. The following cases are examples of challenges faced by BHPs operations when policy does not equate to practice: Natural Resource Industry BHPs core business is to provide natural resources, an industry which has had increased social pressures to act responsibly. It can be argued that BHPs CSR Policy was produced as a public relations tool to mitigate the negative impacts of its core business activities and also to maximise profits for its stakeholders. The real test here is does BHP act ethically when it has the opportunity to make a profit (Pratt Nikolova 2006). This was demonstrated most recently when BHP advised of its intentions to supply the Chinese energy market with an additional 10,500 tonnes of uranium annually. The Australian Conservation Foundation (ACF) warn that once the uranium enters China it will disappear from the safeguards radar, this could potentially lead to devastating outcomes such as nuclear proliferation. Clearly BHP has a greater CSR here but unfortunately the $80 million in revenue was more important than its public image or the health of the wider community. Economic Influence BHPs CSR Policy specifically prohibits the influence of government officials to support the company practices. Most recently in 2010 the Australian Federal Government proposed a super profit mining tax estimating to have made $100 billion in revenue between 2012-13 and 2020-21. However the government was subsequently influenced by three major mining companies including BHP, who explicitly opposed the tax proposal, threatening Australias investment capital (The mining company that cried poor 16 February 2011). As a result the Prime Minister slashed 30 per cent of the tax which means the Australian taxpayers will take a forecast revenue hit of $60 billion over a decade while BHP reports over $10 billion profit for the second half of 2010. Corruption, Bribery and Extortion Clarke (2007) argues that the debate concerning the true extent of the accountability and responsibility continues to the present day. BHP states that: All contract related transactions and payments, including those in connection with gifts and hospitality and other expenditures, must be accurately recorded in reasonable detail in the books and records of any supplier who works on behalf of BHP Billiton (BHP Bilton, Corporate social responsibility requirements). However in April 2010 BHP was investigated by the United States Securities and Exchange Commission after Cambodias Minister for Water Resources told the countrys National Assembly that BHP Billiton had paid US$2.5 million in unofficial payments, to the government, to secure a mining concession (An Alternative Annual Report 2010). BHP has not revealed what over payment was for but controversially the countries BHP operates in have poor records on corruptions and are desperately in need of foreign investment. Protection of the Environment BHP states that: Protection of the Environment: The supplier must operate in a manner that is protective of the environment and comply with all applicable environmental laws, regulations and standards, environmental permitting and re porting (BHP Bilton, Corporate social responsibility requirements). However in 1996 it was sued by Slater and Gordon for one of worlds most devastating environmental disasters when it discharged over one billion tonnes of tailings and waste material into the source of the Ok Tedi River in Papua New Guinea (PNG). This caused more than 3,000 square kilometres of deforestation, turned the tropical rain forests into savannahs, caused 95% decline in fish population (An Alternative Annual Report 2010). Workplace Health and Safety BHP states that it must ensure: the provision of safe and healthy working facilities and appropriate precautionary measures to protect employees from work-related hazards and anticipated dangers in the workplace (BHP Billiton, Corporate social responsibility requirements). However five of its workers in the Western Australia operations died in fatal injuries due to unsafe working practices from 2008-2010 (An Alternative Annual Report 2010). BHP also states that it must ensure: workers receive regular and recorded health and safety training (BHP Billiton, Corporate social responsibility requirements). However in its South African operations employees were not informed about the health and safety risks of handling a chemical element called manganese which causes illnesses such as Parkinsons Disease (An Alternative Annual Report 2010). Effectiveness of BHPs CSR Policy Despite its bad history BHP has usually maintained a good CSR reputation. In fact the Australian Centre for Corporate Social Responsibility went so far as to list BHP in the 2010/11 Top 20 Australian Listed Companies based on its advanced CSR capabilities (State of CSR in Australia Annual Review 2010/11). The real question here is has BHP earned its right to good CSR reputation? History of Public Relations It is a well-known fact that many companies spend a lot of money on Public Relations (PR) to manage their reputation. In the late 1990s BHP employed the Ecos Corp, an environmental PR company founded by former Greenpeace International Executive Director Paul Gilding to help repair its reputation after the OK Tedi Mine disaster in PNG (Ecos 2007). The public relations was aimed at countering the bad publicity through campaigns including advertisements in business publications such as the Financial Review and Australian TV. BHP also offered legal support to the PNG Government for the development of new environmental laws. Unfortunately for BHP, this resulted in an even bigger public outcry, as the company was accused of interfering with its legislation in an effort to protect its own interests (Quester et al 2001). Evaluation The evaluation of BHPs CSR Policy resides in the adequacy of its reporting standards. Clarke (2007) argues that in order for a company to receive creditability they must disclose their processes, procedures and assumptions in reporting. It can be argued that BHP has intentionally chosen not to transparently report on the cases as mentioned in this report, for the simple fact that it leaves it open to more risk and public scrutiny. However this lack of acknowledgement effectively contradicts its stewardship and attests its reliability. Increased public awareness demands that CSR reporting will no longer be used as a public relations tool. This can be seen, as mentioned previously, through the introduction of the Australian Federal Government Mining Tax and other legislation such as the UK Bribery Act, both will inevitably have a significant impact on the way BHP conducts its business. Additionally important are organisations such as BHP Billiton Watch, which was formed to deal with the prominent concerns of communities and organisations across the world regarding BHPs activities (BHP Billiton Watch n.d). Conclusion It is inevitable that organisations such as BHP, in controversial industries such as mining, are never going to be holistically accepted. However, todays forward thinking generation recognise the impacts and challenges of CSR including safety, environmental, community and socio-economic issues. Stakeholders including shareholders demand greater accountability than simply financial returns. Therefore verification and transparency are key to BHPs success and the credibility of its CSR. BHP boasts of a strong reputation and has an opportunity and increased responsibility to enhance and contribute to a safe renewable environment and set an example for other companies alike.

Impact of a Childs Self-esteem on Development :: essays research papers

Self-esteem can be defined as how children feel about themselves. Children's levels of self-esteem are evident in their behavior and attitudes. If children feel good about themselves, these good feelings will be reflected in how they relate to friends, teachers, siblings, parents, and others. Self-esteem is something that affects individuals throughout life. Therefore, it is very important for parents to help their children develop healthy levels of self-esteem. There are many things parents can do to help their children learn that they are lovable, capable, and competent, beginning when their children are at a very young age. Unfortunately, it is also at a very young age that children can begin to develop low self-esteem. Parents must be very careful not to plant the seeds of low self-esteem in their children unknowingly. Children learn their first lessons about self-esteem from their parents. Children thrive on praise. Praise must be specific and sincere to have a positive effect. It's not necessary for parents, teachers, or peers to wait until their children do something exceptional to provide praise. Praising an everyday event like getting ready for school on time is enough. What's important is that people should focus on the positive things their children do instead of on the negatives. Children need to be shown love and affection through both words and physical actions. Parents should tell their children often that they love them and think they're special. Some parents call their children names and/or belittle them when they are angry. Teachers send children to the principal’s office and their friends either fight children or ignore them. Such methods can have a negative effect on children's self-esteem. Not only that but media too can have a negative effect on a children’s self-esteem. Parents better hope that their children are expose to people who wil l boost his/her self-esteem. A child’s self-esteem does affect their development. If a child doesn’t feel confident, he/she won't be as likely to go out of your comfort zone and try new things, therefore they won't be "developing†. After all, not only parents but also peers and teachers and so forth can contribute to the kid's

Essay on the African American Dream in Song of Solomon -- Song Solomon

The African American Dream in Song of Solomon      Ã‚   Like most Americans, African Americans have developed variations of the American Dream. Many African Americans find that their dream differs from the traditional American dream in that there is no immediate success. Sometimes the dream consists of equality via liberty or literacy, while at other times it is a simple desire to know self through historical connection.    In Toni Morrison's Song of Solomon, Milkman was literate and had many options for further education, if so desired. Milkman was apathetic toward education and work. In fact, he was not sure what he wanted from life. Initially, he thought the best thing for his life was to leave his family and home. In order to do so, he needed money. His father, Macon gives him the task of searching for a bag of gold in his Virginian hometown. Macon fought Pilate for a particular bag of gold as children, and Macon believes the gold remains in the original location as it was when they were young. Milkman wishes to locate the gold as means to accomplishing his goal to achieve financial independence.    While on this quest, Milkman discovers his true dream, to discover "who he really is" and his family heritage. Milkman's version of the African-American dream is one of uncovering the past, a past that has been covered and lost through slavery and post-abolition renaming. Where his grandfather and father choose to leave the past behind, Milkman chooses to retrace their steps.    Through Macon, Milkman has been fed numerous variations of history. Pilate, his aunt, continues much of the same distortion. He is unsure of history and reality. In listening to his father's story, we read of Milkman's feelings, "Deep... ...ng his dream. With no immediate success, as occurs in the traditional American dream, Milkman sought to work towards the goal with patience and determination. Once he acquired the dream or a part of that dream, he turned around and gave back to his people, family and friends, in an effort to help those around him. Milkman's story, describes the quest for the African American dream of equality, and in that, exercising his inalienable rights.    WORKS CITED De Arman, Charles. "Milkman as the Archetypal Hero." Obsidian: Black Literature in Review 6.3 (1980): 56-59. Morrison, Toni. Song of Solomon. New York: The Penguin Group, 1977. Peterson, Nancy J. Toni Morrison: Critical and Theoretical Approaches. Baltimore: Johns Hopkins UP, 1997. Rice, Herbert William. Toni Morrison and the American Tradition: A Rhetorical Reading. New York: P. Lang, 1996.