Fashion Buying and Merchandising Essay Example | Topics and Well Written Essays - 2000 words

Fashion Buying and Merchandising - Essay Example The paper "Fashion Buying and Merchandising" discovers the Merchandising and the process of the Fashion Buying. In the fashion industry the fashion retail buyers play an important role. There are many important factors like supplier’s selection and product decision. The most important fact to be noticed is the shift of the retailers from the purely operational background to more strategic background. According to Douglas (2009) the merchandising is the fundamental factor for all of those commercial activities which have distribution attached with it. The fashion wears for the kids have become a new trend in the market. According to the Key Note Childrenswear market report (2009) the UK children’s wear market was valued at 5.29 billion pound in 2008. The primary responsibilities of the buying and merchandising team are identifying the vendor, evaluating the best vendor, negotiation, and placing the order. In the retail industry the fashion and merchandising go parallel. According to Packard et al (1983) the primary role of the buyer’s team is the proper selection of the merchandise to ensure the availability of the new stocks in the store. According to Jackson T, and Shaw D. (2006) the merchandising and the buying team should identify the main responsibilities to add some values to the shop and the main responsibilities are one: pre-selecting and editing product range, two: negotiating value for money price, three: breaking down bulk orders, four: holding stock, five: providing product support.

Major Causes Of The Global Financial Crisis Economics Essay

Major Causes Of The Global Financial Crisis Economics Essay This is what this paper tries to do. It proceeds in three steps. The first reviews what do we mean by the term Financial Crisis or Credit Crunch and also a brief description on global financial crises. The second identifies what is the Causes of Global financial crisis (2008onwords). The third, and the most tentative of the three, takes a first pass at the contours of different macroeconomic policy i.e. U.S Government Macro-economic Policy measures. Financial Crisis or Credit Crunch A credit crunch (also known as a credit squeeze or credit crisis) is: A sudden reduction in the general availability of loans (or credit), or a sudden increase in the cost of obtaining loans from banks Bernanke and Lown (1991) define a credit crunch as a decline in the supply of credit that is abnormally large for a given stage of the business cycle. Credit normally contracts during a recession, but an unusually large contraction could be seen as a credit crunch. When point comes to a financial crisis, it means a poorly functioning financial markets this inadequate performance of financial markets can lead to the limited entry of new firms, low production in the firms on hand, and greater financial constraints form small and medium enterprises. (Anna and Robert, 2005) There are several reasons why banks may suddenly increase the costs of borrowing or make borrowing more difficult. It can be used, because the expected drop in the value of collateral when granting loans to banks, or even to a greater awareness of the risks associated with the solvency of other banks in the banking system. It may be a change in monetary conditions (for example, when the central bank suddenly raising interest rates), or because the central government introduced direct instruction credit checks or banks do not engage more in loans additional. The negative effects of trade losses considerably, while the slowdown in growth, worsening of macroeconomic balances and huge inflationary pressures, etc. It is now clear that the current turmoil is more than simply a liquidity event, reflecting deep seated balance sheet fragilities and weak capital bases stated the International Monetary Fund. Global Financial Crisis The world economy experienced a severe economic downturn. Global financial crisis has caused economic activity, stop and dimmed the outlook for global growth. Although the severity and duration of the crisis are still unclear, the major industrialized countries have already or close to recession and global slowdown should lead to deeper and far more than previously thought. As the deepening financial crisis intensifies its grip on the global economy, Asian economies have begun to feel its effects. (James, William E. et al. 2008). According to Mohan, (2007) Taylor, (2008) the proximate cause of the current financial turbulence is attributed to the sub-prime mortgage sector in the USA. At a fundamental level, however, the crisis could be ascribed to the persistence of large global imbalances, which, in turn, were the outcome of long periods of excessively loose monetary policy in the major advanced economies during the early part of this decade. DeBoer (2008) believes that it was series of events which caused the crisis; it begins with the collapse of currencies in East Asia in 1997 and became edgy due to the financial crisis of Russia in 1998. Next, in USA was the dot-com stock collapse in 2001, and the final stroke was again in USA, when after a swift decline in housing prices and rapid contraction in credit, it fell into recession. Rasmus (2008) has the same thoughts; he, while discussing the reasons of economic recession of U.S said The real ailments afflicting the US economy for more than a quarter-century now include sharply rising income inequality, a decades-long real pay freeze for 91 million non-supervisory workers, the accelerating collapse of the US postwar retirement and healthcare systems, the export of the US economys manufacturing base, the near-demise of its labor unions, the lack of full time permanent employment for 40 per cent of the workforce, the diversion of massive amounts of tax revenues to offshore shelters, the growing ineffectiveness of traditional monetary and fiscal policy, and the progressive decline of the US dollar in international markets. Facts behind the Crisis According to Friedrich-Ebert-Stiftung the current economic difficulties have a United States origin. The original underlying assets were houses whose prices were falling. The collapse of the securitized US mortgage market And its related derivative products amplified the weakness of the US housing sector, sending a contraction shock through the US economy and to the rest of the world. Causes of Global financial crisis As Nikolson (2008) acknowledged that financial crisis which instigated from USA has now become a global phenomenon. At present, not only in U.S but across Asia and Europe, stock exchanges crashed; collective losses of the London, Paris and Frankfurt markets alone amounted to more than 350 billion Dollars. Stock Exchange 100 index closed more than 323 points down in January 2008 (Times online 2008). There are some positive factors present in the circumstances. A rapid decline in prices of raw materials and energy caused by falling demand is temporarily tamed the inflation pressure. The proposed response to the Asian Development Bank, the Global Financial Crisis (2009), several countries have tried, the impact on the global economic slowdown and financial crisis of monetary policy (liquidity injections and rate cuts), the fiscal policies (tax benefits packages and revenue expenditure) and fiscal policy (deposit insurance and rescue). About the cause of current crisis Bartlett (2008) said that crisis was started with the downfall of US sub-prime mortgage industry , the intensity of this collapse was significant; Mark-to-market losses on mortgage-backed securities, collateralized debt obligations, and related assets through March 2008 were approximate $945 billion. He further stated that it is The largest financial loss in history. Global Macroeconomic Imbalances According to Portes (2009), global macroeconomic imbalances were the major underlying cause of the crisis. The savings-investment imbalance, which provide much of the transnational flow of capital too much weight to the funding process to produce global imbalances and the interaction with the defects of financial instruments to specific features of the crisis. This view is, however, provides only a partial analysis of the recent global economy. The deep and lingering crisis in global financial markets, the extreme level of risk aversion, the mounting losses of banks and financial institutions, the elevated level of commodity prices (until the third quarter of 2008) and their subsequent collapse, and the sharp correction in a range of asset prices, all combined, have suddenly led to a sharp slowdown in growth momentum in the major advanced economies Subprime Mortgage Crisis YÄÂ ±lmaz (2008) charged U.S subprime mortgage industry to be the major reason of current global financial crisis, he also stated that the total loses estimated initially up to $300 to $600 billion are now considered to be around $1 trillion. Sub-prime crisis is the housing crisis and the financial crisis, triggered by the sharp rise in defaults and foreclosures in the United States, the main negative impact on banks and financial markets through the world. The crisis of the late 20 Century appeared in 2007 and is disclosed stem constantly weaknesses in the regulation of the financial sector and the global financial system. Khatiwada and McGirr (2008) stated that many of these subprime mortgage loans in the balance sheet of banks they never have been born, and they are to attract foreign banks, which are high investment rating, with subprime borrowers to repay their s mortgages, originating institution closure of his own money to finance its assets back to the balance sheet. There was a lot of banks in the sustainability of public finances, uncontrollable relatively short calendar. Global Trends (2008 onwards) I would like to highlight some Global trends leading to the crisis are: High Commodity Prices: In 2008, the prices of many commodities such as oil and food, so high that it causes real economic damage. In January 2008 the price of oil crossed $ 100 a barrel for the first time, the first step in a series of awards after this year. In July, the oil price was $ 147 per barrel, though prices fell quickly. Trade: In mid-October 2008 Baltic Dry Index, a measure of cargo volume decreased by 50 percent from one week loan crisis, it was difficult to obtain letters of credit for exporters Inflation: In February 2008, Reuters reported that headline inflation to historic levels, and that domestic inflation was 10-20 years a large number of people. Supporting the oversupply of money in the world, growth spurt, a loose monetary policy in Asia, speculation in commodities, years of poor harvests, rising imports from China and the growing demand for products food and raw materials, rapid growth of emerging economies, Possible causes of inflation, as indicated. In mid-2008, IMF data showed that inflation was highest in oil-exporting countries and Asian developing countries, because the price of oil and food prices. Unemployment: The International Labour Organization estimates that are 20 million jobs lost, when he have the end of 2009 because of the crisis particularly construction, real estate, financial and automotive sector unemployment lay in the world more than $ 200 million for the first time. (Muhammad Usman IPRI Journal) US Government and financial crises Barack Obama, the new president of the United States has implemented a comprehensive economic policy in the United States on the economic crisis. Although the United States is facing the financial crisis now, and there is a recession looming economic problems of the United States several were taken to standardize. DeBoer (2008) believe that such bailout programs and other supporting packages from governments is like offering protection from a negative outcome which is more appropriate to be called as moral hazard; this trend could increase the possibility of future bad upshots Governments are providing support and doing what so ever they can to prevent their economical structure; US government injected $800 billion in the economy to support the structure, UK government has announced a package of $692 billion, European Union is about to start an economic recovery plan and IMF has called for minimum financial support of $100 billion (BBC news, 2008). U.S Government Macro-economic Policies and Legislations First, the U.S. policy to contain the infection and deal with the recession that followed. The two main legislative Troubled Asset Relief Program, which is supporting the U.S. economy, and institutions recovery and reinvestment for the year 2009 it aims to give impetus to the economy (Clinton T. Brass et al., 2009). Political proposals Thurs forces of change in the regulations and structure of regulation and supervision of national and international level have been coming through the legislative process, the maintenance of the recommendations of international organizations like the International Monetary Fund (Global Financial Stability Report, 2008), Bank for International Settlements (Walter W. Eubanks CRS report), and Financial Stability Board Forum(Report of the Financial Stability Forum2008). According to Fred Moseley (2009) the federal government has acted fairly vigorously in attempts to prevent a more serious crisis, and has been modestly successful in the short-run, but it remains to be seen how successful it will be in the long run. Federal Reserve. The Federal Reserve has a very accommodative policy (lower interest rates, which was short term and increased lending by commercial banks), and hopes that the banks increase their lending to companies and households. These traditional policies are not effective, because banks are reluctant to their loans are increasing, because they trust the creditworthiness of borrowers and the capital loss they have suffered (and still) that are required to reduce shortages to loans, the to approve loans, to maintain the equity ratio. Most importantly, the Fed loans to investment banks continued first in its history. Investment banks regulated by the Fed, so it has always been of the opinion that the Fed is not the responsibility as lender of last resort act, the investment banks, if they are in difficulties. In September 2008, when the bankruptcy of Lehman Brothers (then as the fourth largest investment bank in the United States), exacerbation of the crisis triggered by the Fed still extraordinar y and unprecedented steps to rescue AIG, the largest insurance company in the world. AIG, the market for credit default swaps, the insurance policy, a government defaults on loans, which represent, including high-risk mortgage-backed securities and form of speculation that dominates the bonds and default However, the commercial banks and investment banks stopped lending have increased. And the Fed cannot solve the fundamental problems of excessive household debt, falling house prices and rising rates of foreclosure. Congress. In February 2008, Congress quickly passed a financial incentive Paper of 168 billion $, which includes tax relief for households and tax cuts for businesses. These tax cuts would have a positive effect on the economy last summer, but their impact was minor and transient. At best, tax relief, even if the pace of consumption, because such reductions can only be used once. In 2008, Congress adopted the anti-sealing operation, which the existing mortgages, the default for new installations, which represent about 85 percent of the fair value of the home refinancing can be verified, and the Federal Housing Administration to ensure, can then end of September, when the crisis worsened, Treasury Secretary Henry Paulson has requested and Congress approved (in the context of the threat, the rapid decline in stock markets), $ to buy 700 billion subprime-backed securities (toxic waste), the U.S. banks. s $ 700 billion a lot of money, it is $ 2,300 for every man, woman and child in the U nited States. Soon the law was passed, Paulson changed his mind and decided to use is 700 billion dollars by capital of banks (rather than buying toxic assets), and hopes that this increase is best way to encourage bank lending. The situation shows that leaving the financial capitalist system, their future, is inherently unstable, and only avoid government crises live at the expense of taxpayers. It is twice in the capitalist financial system is inherently unstable and rescue operations are necessary economically unfair. Conclusion After discussing the most common causes of the global financial crisis, I found that show some predictions that the world from a crisis that is unique in nature is suffering, because the Mortgage Industry in the United States and whether is then spread around the world but there is no general consensus about the same thing. The governments turn when they control their financial research, calculate, and the protection of their economic structure. In order to prevent future financial crises and the allocation of capital occurs at the mania of the monetary authorities would be asset price inflation and deflation, not only the price index (CPI) inflation and deflation because of their political activities, including governance. There is something disturbing about how the central banks have acted in the past: they are relentless commitment to keep inflation low, and revise their refusal, the inflation of resources, manufactured era marked by a combination of slow low wages and persistent economic instability. Regulation of health care should be taken in public funds to the safety and credibility of financial institutions, such as capital adequacy ratios (especially if the assets are weighted and the mark-to-market price increases) or tightened accounting to comply with the standards of booking, when the expected losses also unveiled its distorting effects, because they have led to convictions in honour of and sudden fire sale of assets. This proved to be strongly pro-cyclical, especially when the crisis has already erupted. It is important that the per capita gross domestic product is expected to grow because the new economic policy in the United States. Unemployment and underemployment are reduced, and exports of the products would soon seek U.S. economic policy. .

Biography of Yaseer Arafat Essay -- essays research papers

Biography of Yasser Arafat (1929-2004) Mohammed Abdel Raouf Arafat al-Qudwa Al-Husseini, more commonly known as Yasser Arafat was the fifth of seven children born to a Palestinian textile merchant on August 24, 1929. According to Arafat and other sources, he was born in Jerusalem, however, French biographers, Christophe Boltanski and Jihan El-Tahri revealed in their 1997 book, Les sept vies de Yasser Arafat, that he was actually born in Cairo, Egypt, and that is where his birth certificate was registered. The Palestinian Academic Society for the Study of International Affairs also lists Arafat’s birthplace as Cairo. Ian Pacepa, a former Romanian intelligence official, disclosed that the KGB had invented a background for Arafat with a birthplace in Jerusalem. Claims that Arafat was related to the Jerusalem Husseini clan through his mother have been disputed by the Palestinian historian Said Aburish. In an unauthorized biography, Aburish claims that â€Å"The young Arafat sought to establish his Palestinian credentials and promote his eventual claim to leadership... [and] could not afford to admit any facts which might reduce his Palestinian identity. ...Arafat insistently perpetuated the legend that he had been born in Jerusalem and was related to the important Husseini clan of that city.† Arafat’s childhood was divided between Cairo and Jerusalem, where he lived for four years with an uncle following the death of his mother when he was five. Arafat entered the University of King Faud I (later renamed Cairo University) in 1947 and studied engineering. It was during his college years that Arafat adopted the name Yasser, which means â€Å"easygoing† in Arabic. During the 1948 Arab-Israeli war, Arafat left the university and, along... ... capital in some part of the holy city. For nearly half a century Arafat was the symbol of Palestinian nationalism. Though he was not a military man, he was rarely seen out of his uniform in an effort to project strength and his commitment to armed struggle. He wore his kaffiyeh in a unique fashion, draped over his shoulder in the shape of Palestine, that is, all of historic Palestine, including Israel. The high-profile terrorist attacks he directed helped gain international attention and sympathy for the Palestinian cause, but, ultimately, his unwillingness to make the psychological leap from terrorist mastermind to statesman prevented him from achieving independence for the Palestinian people, and brought them decades of suffering that could have been avoided had he abandoned his revolutionary zeal for liberating Palestine and agreed to live in peace with Israel.

Argentina Genocide Essay

There was court investigated crimes against 200 opponents of the military regime in six illegal detention centers in Buenos Aires, One of the crimes was a kidnapping of a man named Jacobo Timerman who was tortured by electric shocks, beatings and solitary confinement in the years he was held illegally. The prosecutor said Jaime Smart was a leading factor in the persecution of opponents in the military. The illegal detention centers were run in police stations under his command. During the seven year military rule, an estimated 30,000 people were kidnapped, tortured, and killed by the junta. http://www.globalsecurity.org/military/world/war/argentina.htm The Dirty War ran for seven years, from 1976 – 1983. It was run by the Argentine government against dissidents (A person who opposes official policy) and subversives (A person seeking or intended to subvert an established system or institution). Many people were â€Å"disappeared† which usually meant being taken in the night to secret government detention centers where they were tortured and killed. These poor humans were known as â€Å"los desaparecidos† or â€Å"the disappeared.† The war started with the death of President Juan Peron in 1974 when his wife gained authority, unfortunately the woman was not a strong political leader and a military junta removed her from office. http://www.telegraph.co.uk/culture/3673470/Argentinas-dirty-war-the-museum-of-horrors.html Miriam Lewin, 49, one of only 150 Esma survivors, was arrested and taken to a detention center for almost a year, Miriam was locked in a tiny dark cell, kept hooded and chained to the wall and tortured with electric shocks. They told her she was being taken to a work camp to be rehabilitated instead they shoved her into a car trunk and took her to Esma. Miriam spent 10 months at Esma, on her release she fled to the US and returned after the w ar as a journalist for a television station. Lewin repeats some of the horrific events passed, ‘It was similar to the Terezin Nazi camp: some prisoners worked and were shown films for entertainment, while others were tortured next door, then drugged and weighted before being taken on â€Å"death flights† over the Atlantic.’ The bodies were dropped into the ocean; others were burnt. As in the case of the Holocaust victims who were forced to write to their families saying that they were being treated  well, Esma prisoners were occasionally allowed contact with the outside world, mostly through calls from a monitored telephone booth in the entrance, which is now a lavatory.’When I was 20 they took me to see my parents,’ Lewin says, ‘to prevent them from looking for me. My mother asked, â€Å"How are you, how are you being treated?† Fine. â€Å"What do you do all day?† Well, we write, watch films, read†¦ â€Å"Are you with other girls of your age?† Yes, yes, Mum. I couldn’t tell her that I was in a concentration camp where they tortured and killed people, that this could be the last time she would see me alive, otherwise they would have been in danger, too.†I will never forget how, purely to humiliate us, they took me and some other female prisoners to have dinner in a restaurant in the centre of town with a group of armed plain-clothes officers. We would be sleeping in the middle of the night and a guard would shake us and say, â€Å"Wake up, you have to go.† We didn’t know if we were going out for a meal or to die. A girlfriend of mine was taken dancing by the guy who had killed her husband two weeks earlier,’ she says with a wry smile.Like most others, she was imprisoned in the casino or officers’ hall of residence, a building clearly visible from the street and overlooked by nearby flats. She was forced to work in the basement, translating into Spanish articles on the military regime that appeared in English and French newspapers; others wrote military biographies, forged documents and filmed propaganda videos. As they worked, inmates in adjacent rooms were tortured with water and electric cattle prods, their shouts sometimes muffled by loud music. http://www.vice.com/read/inside-argentinas-secret-death-camps Inside Argentina Camps In 1977 Nilda â€Å"Munu† Goretta was walking home from work on a busy street in downtown Buenos Aires when members of the Argentinean Military Death Squad blindfolded her from behind and shoved her into a nearby car. She wasn’t seen or heard from for 13 months. During the height of Argentina’s seven-year military dictatorship Munu lived as a political prisoner in the torture center, ESMA. In order to maintain control, the junta organized a system to eliminate any threats to the new government. Anyone who expressed the slightest sympathies for leftist politics would vanish without a trace. The general public was not aware of the concentration camps. ESMA operatedÃ'Ž

Accounting & information Technology Essay

How the process of computerising accounting information systems (AIS) and telecommunicating accounting information over the web actually help the accounting functions in an organisation operating globally? However, the counter-claim is that the breaching of the security of such systems will be a great risk that needs to be properly managed in various ways. The purpose of the essay is to identify how the process of computerising accounting information and telecommunication accounting information over the web can help the accounting functions in an organisation operating globally and to find out how large firm can protect their system and information by using different methods. Also, in this assignment the main function of computerizing accounting information system (AIS) and telecommunicating accounting information over the web will be discussed along with successful examples and failure examples. Also, it will link and explain why these functions will help the accounting functions to operate globally. Also, in this assignment it will explain the main threats of using such system and will point out how large organisations able to manage these potential threats. See more: Strategic Management Process Essay Accounting Information System is vital to all organisations (Borthick and Clark, 1990). The process of computerizing accounting information systems (AIS) is a system of collection, storage and processing of financial and accounting data that is used by decision makers. The result can be used internally by management or externally by other interested parties including investors and creditors. Organisations depend on information systems to stay competitive, they see information as important as a resource such as plant and machines. Therefore, in order to stay competitive, organisations may have to computerising their AIS, to make the process automatic in order to; reduce effort, save time, improve efficiency and reduce labor cost. However, many organisations are not enjoying the benefit of computerization of accounting system as they have continued to be inaccurate due to increased number of interruptions due to system failure or breakdown and untimeliness with its reliability left in the question. So how computerising accounting information system helps the accounting functions in an organisation operating globally? In a computer system, processing is carried out electronically, usually with little or no intervention from a human user. The components of a computer system include hardware and software. Hardware describes the physical components of a computer system. Example: Monitor, bar-code reader, Web camera and speakers. And software is a series of detailed instructions that control the operation of a computer system. Software exists as programs that are developed by computer programmers. Example: systems software and applications software. (Khaled Abdala, Financial accounting & information technology, p.510). But how they actually help the accounting functions in an organisation operate globally? When a firm has grown globally, they then have to deal with billions of information per day from many different countries, and the only way they can process the information is by using computer system, today’s computer system come in variety of sizes, shapes and computing capabilities. Categories such as mainframe, midrange and microcomputer systems are still used to help an organisation which operates globally, such as IBM, to express the relative processing power and number of end users that can highlight the major uses of particular types of computers. Telecommunications is on a national or global scare, in order to allow telecommunications to operate it consist both software and hardware to set up these links. Hardware include; satellite and microwave transmissions. Telecommunications help the accounting functions in an organisation operating globally by enable a business that operating from different locations to run as a single unit. . (Khaled Abdala, Financial accounting & information technology, page. 571). This means that the information can be managed centrally and control maintained from a central location. Also, an organisation can use telecommunications to collaborate with other companies such as their suppliers by using electronic data interchange or web-based e-procurement with partners. One of the main advantages of using telecommunication is improving the communications within and outside a business. Due to poor communication, diseconomies of scale maybe appear where there is too much information to deal with at the same time and leading to some information are being ignore. This will then increase the cost per unit and may pull down the shareholder’s interest and may lead to a business failure. Also Electronic business (e-business) and Electronic commerce (e-commerce) are also included in the telecommunication, where the term e-business is credited by the former IBM CEO Lou Gerstner. E-business involves several key activities: improving business processes, enhancing communications and providing the means to carry out business transactions securely. And e-commerce is not only a type of industry where buying and selling of product or service is conducted over electronic systems such as the internet and other computer networks also e-commerce encompasses the entire online process of developing, marketing, selling, delivering, servicing, and paying for products and services transacted on internetworked, global marketplaces of customers, with the support of a worldwide network of business partners. (James A.O’Brien, management information systems. P.284). A great example of e-business and e-commerce is ASOS.com, ASOS is the UK’s largest online-only fashion and beauty store. ASOS is a global online fashion and beauty retailer and offers over 50000 branded and own label product lines across women wear, menswear footwear, accessories and jewelry. ASOS has websites targeting the UK, USA, France, Germany, Spain, Italy and Australia and also ships to over 190 other countries from its central distribution in the UK. (Online, Available at: http://www.asosannualreport2008.com/Doc/pdf/AnnualReport2008.pdf). Without a single shop, they able to automating many of the administrative tasks associated with ordering, supplying and delivering goods, therefore the cost of a typical business transaction can be reduced significantly. Also, due to operating their business through internet, they are able to operating at any time of the year, this then lead them to have an advantage of having a much flexible time and place to sell their products than the tradition international organisation such as Topshop. However, is there only advantage of using AIS and telecommunicating accounting information for organisation to operate globally? Is there anything stopping organisations using it? Yes, is the answer. There is no question that the uses of information technology in an organisation presents major security challenges, poses serious ethical questions, and affect society in significant ways. (James A.O’Brien, Management information systems, p.439). Computer crime is a growing threat to society caused by the criminal or irresponsible actions of individuals who are taking advantage of the widespread use and vulnerability of computers and the internet and other networks. Also, natural disasters can also be a great risk to a system. All information systems are susceptible to damage caused by natural phenomena, such as storm, lighting strikes, floods and earthquakes. For example, in Japan and the United States took the great care to protect critical information system from the effect of earthquakes. There are five major categories of controls that can be applied to information systems. There are: physical protection, biometric controls, telecommunications controls, failure controls and auditing. (khaled Abdala, Financial accounting & information technology, page. 627) Physical protection is simple, this involves the use of physical barriers intended to protect against theft and unauthorized access. Lock, barriers and security chains are examples of this form of control. Secondly, biometric controls, these type of controls make use of the unique characteristics of individuals in order to restrict access to sensitive information or equipment, this can be achieve by using scanners that can check finger-prints, voice prints or even retinal patterns. Thirdly, the telecommunications controls, this type of control involve identity of a particular user. Common type of communications controls includes passwords and user validation routines. As an example, when a new network account is created for a given user, they may be asked to supply several pieces of personal information. The fourth control is failure control, failure controls attempt to limit or avoid damage by the failture of an information system. Typical examples include recovery procedures and regular backups of data. The last type of control is auditing, Auditing involves taking stock of procedures, hardware, software and data at regular intervals. With regard to software and data, audits can be carried out automatically with an appropriate program. Auditing software works by scanning the hard disk drives of any computers, terminals and servers attached to a network system. In conclusion, we can see that organisation have to be carefully managed with their AIS and information due to natural disasters and individuals who are taking advantage of the widespread use and vulnerability of computers, because if you don’t take care of your accounting information system, others will take care of it for you. But if can be carefully manage, we can say that computerising accounting information systems (AIS) and telecommunicating accounting information over the web can actually help the accounting functions in an organisation operating globally, with great example of ASOS. References: 1. Borthick, A.F.; Clark, R.L. (1990). Making accounting information systems work: An empirical investigation of the creative thinking paradigm. Journal of information System, p. 48-62 2. Khaled Abdala, Financial accounting & information technology. Page. 284) 3. (Khaled Abdala, Financial accounting & information technology, page. 571) 4. (Online, Available at: http://www.asosannualreport2008.com/Doc/pdf/AnnualReport2008.pdf) 5. (James A.O’Brien, Seventh edition, Management information systems, p.439) 6. (Khaled Abdala, Financial accounting & information technology, page. 627)