How Insulin Was Discovered

The experiment that led to the initial discovery of insulin—the hormone manufactured in the pancreas that regulates the amount of glucose in the blood—almost didn’t happen. How Insulin Almost Wasnt Discovered For years scientists have suspected that the secret to controlling elevated levels of glucose lay in the inner reaches of the pancreas. And when, in 1920, a Canadian surgeon named Frederick Banting approached the head of the University of Toronto’s physiology department with an idea about finding that secret, he was initially rebuffed. Banting suspected a mysterious hormone was being produced in a section of the pancreas called the islets of Langerhans. He theorized that the hormone was getting destroyed by the pancreas’ digestive juices. If he could shut down the pancreas but keep the islets of Langerhans working, he might find the missing substance. Fortunately, Banting’s persuasive powers prevailed and department head John McLeod gave him lab space, 10 Langerhans hormone before it could be isolated. If he could stop the pancreas from working, but keep the islets of Langerhans going, he should be able to find the stuff!  experimental dogs, and a medical student assistant named Charles Best. By August of 1921, Banting and Best succeeded in extracting hormones from the islets of Langerhans—which they called insulin after the Latin word for island. When they injected the insulin into dogs with high blood sugar levels, those levels dropped quickly. With McLeod now taking an interest, the men worked quickly to duplicate the results and then set about running a test on a human subject, 14-year-old Leonard Thompson, who saw his blood sugar levels lower and his urine cleared of sugars. The team published there findings in 1923 and Banting and McLeod were awarded the Nobel Prize for Medicine (Banting shared his award money with Best).  On June 3, 1934,  Banting was knighted for his medical discovery. He was killed in an air crash in 1941.

Essay on What Makes for an Effective Leader - 954 Words

The mystery of what makes one an effective leader has fascinated people for thousands of years. There is a great difference between leadership and management. Leadership in my opinion differs from management and requires transformational approaches. Peter F. Drucker says, Management is doing things right; leadership is doing the right things (Goodreads.com,2014). Management capabilities can be developed mostly through personal experiences while leadership skills are inherent and there are therefore no clear cut ways to develop it. The viability of a leader depends more on knowing yourself, pragmatic leadership and pleasing the masses rather than responding to circumstances. In order for one to be a successful leader, one must fully†¦show more content†¦Criss Jami once said, to be truly positive in the eyes of someone, you must risk appearing negative in the eyes of others (Goodreads.com,2014). Pleasing the masses means following the whims and caprices of every individual. Initially I thought leaders were to please their followers at all times. After my leadership class on this topic however, I had a different understanding of the concept of pleasing the masses. Pleasing the masses in my opinion depends on the type of leadership style that is being used by the leader. If the leader happens to be an autocratic leader where all decisions are taken mainly by the leader with or no input from the followers, the leader may take decisions which may not be in favor of the followers. However, if the leader happens to be a democratic leader, decisions taken may be taken in compromise and as such may have bits and pieces pleasing both the leaders and the f ollowers. From my understanding of pleasing the masses, sometimes it is necessary for decisions which may not please the masses to be taken. Leaders have foresight and as such some of the decisions that they may take may not always please every single follower of theirs. Such non-pleasing decisions may however be a critical move for them to make in order to solve a situation. A good leader does what is right and sometimes what is right may not always appeal to people. A clear example can be seen in George Orwells shortShow MoreRelatedWhat Makes A Effective Leader? Essay1168 Words   |  5 PagesI. What is Leadership? â€Å"At times of change or dealing with uncertainty or in a crisis-- that is when the best leader will shine† (Ellis, 2016). A leader who can work effectively in a complicated, unpredictable situation is a competent leader and he tirelessly works to improve his capabilities (Ledlow Coppola, 2010). All great leaders are known for communicating effectively what they want to achieve. They are visionaries who have the ability to lead others toward a shared goal (Gibson Weber,Read MoreWhat Makes An Effective Leader? Essay717 Words   |  3 PagesReview Press. Article 1: What Makes an Effective Leader Central Theme: Article one focuses on the idea that in order to have an efficient or successful environment, whether it be a business, project, or group, a leader must be effective in their way of working and addressing such environment. The first article focuses not only in what a leader needs to do but why those factors characterize an effective leader. An effective leader is someone who essentially does what needs to be done, and theyRead MoreWhat Makes An Effective Leader?1084 Words   |  5 Pagesfair share of leaders, both effective and ineffective ones; some had used their leaderships in negative lights such as Manuel Noriega, former Panamanian Dictator or positive ones such as that of Franklin D. Roosevelt. [The use of the pronoun ‘his’ to refer to the leaders is incorrect. Since you discuss a variety of leaders here, it must be used in the plural form.]Despite their differences, both leaders were very effective in their crafts. 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Effective leadershi p is a necessity. Leadership has been a requirement of society since the beginning of time. If a companys goal is to progress, effective leadership is the key. Leadership is a vigorous method of relationship buildingRead MoreWhat Makes Me An Effective Leader?1083 Words   |  5 Pagesgoals. As a potential leader if I analyse through my ability of skills, I possess the skills of wisdom, self- transcendence, emotional regulation and critical life experience to a greater extend, where in I am very much inclined to a level of perfection when openness, sense of humour, reminiscence and reflectiveness are concerned. I am quite average when it comes to the different dimensions of being affective and reflective. My attributes of wisdom makes me an effective leader to manage performanceRead MoreLeadership And Communication : What Makes An Effective Leader?858 Words   |  4 Pagesothers in some degree. The world has seen its fair share of leaders, both effective and ineffective ones; some had used his leadership in negative lights such as Manuel Noriega, former Panamanian Dictator or positive ones such as that of Franklin D. Roosevelt. Despite their differences, both leaders were very effective in their crafts. One may ask â€Å"What make an effective leader?† In my opin ion, communication is the key. In order for leaders to succeed, they should be able to strategically communicateRead More What Makes Jack Welch an Effective Leader? Essay971 Words   |  4 PagesWhat Makes Jack Welch an Effective Leader? ---ideas from the article â€Å"Will Legacy Live On?† Before I talk about what makes Jack an effective leader, I want to explain briefly why I chose him as my study subject. Why do I like him? Jack Welch created a new model for business leaders everywhere. His genius leadership and management techniques are an example to anyone aspiring to a successful career. Why is he so famous? He became the youngest CEO and Chairman of one of Americas biggestRead MoreThe Five Practices Of Ideal Leadership1250 Words   |  5 Pages Effective Leader Introduction Leaders come to be great, not because they utilize their title power, but for their ability to empower others. Leadership can be complex for the reason that it is about developing coworkers that have different personalities and characteristics. One of the first two questions a person should ask themselves when becoming a leader in an organization are; one, what is leadership? Second, what does great look like? The questions are simple enough, but then againRead MoreValues That Make An Ethical Business Leader972 Words   |  4 PagesValues That Make an Ethical Business Leader Values and ethics are essential for any good business leader, but what exactly does it mean to have good values and ethics? Both are extremely broad terms, however they both are very relevant in business leaders. â€Å"Values can be defined as things that are important to or valued by someone. That someone can be an individual or an organization. Values determine what is right and what is wrong, and doing what is right or wrong is what defines ethics. To behave

Modern Auditing and Assurance Services Material Misstatement

Question: Discuss about theModern Auditing and Assurance Services for Material Misstatement. Answer: Material misstatement is an important factor in the process of auditing. Material misstatement can be seen in the financial statements of the business organization (Simnett 2012). One of the major effects of material misstatement is that it negatively affects the decision-making process of the organization. In the process of material misstatement, the financial information of the organizations is manipulated to influence the financial decision (Cao, Chychyla and Stewart 2015). From the above case study of Amistad, it can be seen that there are two asset accounts that are in the risks of material misstatement. They are current assets account and total assets account. As per the above case study, the bank wants the company to maintain a current ratio of 1.2. However, as per the financial condition of the company, the current ration of Amistad is 1.24. Hence, it can be observed that there can be a possibility of material misstatement in the current asset account of the company. As pre t he case study, Amistad is in financial crisis. In this position, its shareholders fund to total asset ratio should be affected. However, it can be seen that there is not any such change in that particular ratio. Thus, it can be said that the total asset account of the company may be in the risk of material misstatement. One of the major issues in the figure of prior years is the amount of net sales. As per the requirement of the bank of Amistad, the company must maintain minimum sales of $100,000 per quarter. However, it can be seen that the company had a total yearly sales of $350,000. The annual amount was less than what it needed to be. This is a major issue. In the business process of Amistad, three factors may bring into question the going concern assumption of Amistad. The first factor is the declining financial condition of the company. As per the going concern assumption, a business organization will continue to operate in the near future without any liquidation and insolvency (Carson et al. 2012). The current financial condition of the company can break this rule. The second assumption is that all the assets will be realized from its sales. However, this is not happening for the organization. The third assumption is that the liabilities will be recognized as the settlement price. However, the liabilities of the company are not recognized based on settlement price. Audit planning is a crucial stage in the process of auditing as all the necessary processes of the audit operation is chalked out in this stage. One of the major requirements of the process of audit planning is the uninterrupted flow of correct and appropriate financial information (Kerr 2013). In relation to Amistad, it can be seen that there are risks of different kinds of material misstatement in the process of accounting and finance. As per the earlier discussion, the process of material misstatement manipulates the financial and accounting information of the business organizations. hence, it can be said that the effect of material misstatement will reduce the effectiveness of the process of audit planning. As per the provided information, one of the major internal control issues of Amistad is the approval authority of the sale or return process. From the provided information, it can be seen that the marketing manager if authorize to issue all the credit aspect of the process of sale or return. The main responsibility of the marketing manager is to take care of the aspects of marketing and sales (Hoitash, Hoitash and Johnstone 2012). It is the responsibility of the accountants to issue credit periods and to take care of the stocks of the company. For this mismatch, the company has to face many financial difficulties. The authority of sale or return must be on the hands of both the marketing manager and the accountant of the company. One of the fraud risk factors of Amistad is the sales bonuses. From the provided case study, it can be seen that the sales staffs are given bonuses on unfair basis as the criteria of sales bonus is not achieved in most of the months. Another major fraud risk factors of the bonus of the sales managers. It can be seen that the sales managers has received 20%% bonus on regular monthly basis despite of not achieving the target on each months. These are two fraud risk areas of Amistad (Knechel and Salterio 2016). One account balance at risk is the sales account of the organization. As per the inspection of the auditors, it can be seen that the sales target of the company has not been achieved in most of the months and still the sales employees have been provided with sales bonuses. Hence, the sales account of the company is at the risk (Vona 2012). The first assertion is 10% and 20% bonus on the achievement of the sales target of the sales employees and sales manager respectively. This statement is in risk as bonuses are given to the sales employees on an unfair basis despite not achieving the sales target. The second assertion is the implementation period of sales bonus. It can be seen that in the mentioned period of six months, the amount of sales has not been increased and still the employees received bonuses. First, the internal control of the organization needs to be effective (Power 2013). The accountants of Amistad need to ensure that the sales bonuses are given to the employees at the achieving of the monthly sales target. This will eradicate the risk of fraud in the process of sales bonus. Second, proper financial control must be established in Amistad to avoid fraudulent. This process will ensure that the employees will get the sales bonus at the achievement of the monthly sales target. These two procedures need to be implemented in Amistad to address the issues of material misstatement. References Cao, M., Chychyla, R. and Stewart, T., 2015. Big Data analytics in financial statement audits.Accounting Horizons,29(2), pp.423-429. Carson, E., Fargher, N.L., Geiger, M.A., Lennox, C.S., Raghunandan, K. and Willekens, M., 2012. Audit reporting for going-concern uncertainty: A research synthesis.Auditing: A Journal of Practice Theory,32(sp1), pp.353-384. Hoitash, R., Hoitash, U. and Johnstone, K.M., 2012. Internal control material weaknesses and CFO compensation.Contemporary Accounting Research,29(3), pp.768-803. Kerr, D.S., 2013. Fraud-risk factors and audit planning: The effects of auditor rank.Journal of Forensic Investigative Accounting,5(2), pp.48-76. Knechel, W.R. and Salterio, S.E., 2016.Auditing: assurance and risk. Routledge. Power, M., 2013. The apparatus of fraud risk.Accounting, Organizations and Society,38(6), pp.525-543. Simnett, R., 2012. Assurance of sustainability reports: Revision of ISAE 3000 and associated research opportunities.Sustainability Accounting, Management and Policy Journal,3(1), pp.89-98. Vona, L.W., 2012.Fraud risk assessment: building a fraud audit program. John Wiley Sons.

Statista Report free essay sample

The Print Media surveys in Spain EGM ? The EGM is the Print Media survey in Spain †¢ Since 1968 †¢ Multimedia: †¢ Newspapers (currency) †¢ Magazines (currency) †¢ Radio (currency) †¢ Cinema †¢ Tv (Referential for meters) †¢ Internet (Referential for meters) †¢ Outdoors †¢ The EGM is the Cross Media survey in Spain 2 The Print Media surveys in Spain EGM Radio n = 36. 000 EGM 2000 EGM Multimedia n = 43. 000 The Print Media surveys in Spain EGM Radio n = 36. 000 EGM 2007 EGM Newspaper n = 32. 000 EGM Multimedia n = 43. 000 3 The Print Media surveys in Spain EGM With these extensions we have two different data for Radio and Newspapers: ? The official data (multimedia+monomedia) ? The multimedia data from the Cross Media Survey Example: In 2007 the official audience of â€Å"El Pais was 2,234,000 readers, and the result for the Cross Media Survey was 2,127,000 readers, some 5% less. The Print Media surveys in Spain EGM The â€Å"Market† accepted the coexistence of two different data: ? â€Å"the official data†, currency for the media, is used in the monomedia advertising plans for Radio or Newspapers. We will write a custom essay sample on Statista Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ? â€Å"the other data† is used in the multimedia advertising plan where Radio stations or Newspapers titles are included. 4 The Print Media surveys in Spain EGM Radio n = 49. 000 EGM 2008 EGM Newspaper n = 45. 000 EGM Multimedia EGM Magazine n = 20. 000 n = 30. 000 EGM TV n = 13. 000 The Print Media surveys in Spain EGM The Market demanded the implementation of a Data Fusion Process with the following conditions: ? Audience data for each title, station, etc, must fully coincide with the data that comes from each official source. ? The procedure must be traceable. ? Lastly, it would be convenient that the procedure not imply a long-time frame to come up with presentable data. 5 The Print Media surveys in Spain Data Fusion: Origin Interviews: MULTIMEDIA 30. 00 DEMO GRAPHICS OTHERS INTERNET CINEMA OUTDOORS + LIFE STYLE EQUIPMENT CONSUMPTION + NEWSPAPERS RADIO MAGAZINES TV MOMOMEDIA NEWSPAPERS + 45. 000 + DEMO GRAPHICS + NEWSPAPERS + + + MOMOMEDIA RADIO + 49. 000 + DEMO GRAPHICS + + + + RADIO + + MOMOMEDIA MAGAZINES + 20. 000 + DEMO GRAPHICS + + + + + MAGAZINES + MOMOMEDIA TV + 13. 000 + DEMO GRAPHICS + + + + + + TV The Print Media surveys i n Spain Data Fusion. Final Objetive Interviews: MULTIMEDIA 30. 000 DEMO GRAPHICS OTHERS INTERNET CINEMA OUTDOORS + LIFE STYLE EQUIPMENT CONSUMPTION + NEWSPAPERS RADIO MAGAZINES TV MOMOMEDIA NEWSPAPERS + 45. 000 DEMO GRAPHICS + NEWSPAPERS + + + MOMOMEDIA RADIO + 49. 000 + DEMO GRAPHICS + + + + RADIO + + MOMOMEDIA MAGAZINES + 20. 000 + DEMO GRAPHICS + + + + + MAGAZINES + MOMOMEDIA TV + 13. 000 + DEMO GRAPHICS + + + + + + TV = TOTAL = DEMO GRAPHICS = OTHERS INTERNET CINEMA OUTDOORS = LIFE STYLE EQUIPMENT CONSUMPTION = NEWSPAPERS = RADIO = MAGAZINES = TV 6 The Print Media surveys in Spain Data Fusion. System We used predefined strata of known size in the population: Province (50) x Town Size (2) x Week Day (2)= 200 strata Province (50) x Town Size (2) x Gender (2)= 200 strata (Depending on the Media being fused) We wanted to make sure that the strata of the 5 studies and the sum of the 5 original files amount to the same as the population within each strata: Example: Province Valencia Town Size + 50. 000 Gender Men Population 902,626 The Print Media surveys in Spain Data Fusion. System The sum file of the 5 initial surveys has missing information that we are going to fulfill in 5 steps, adding with each step the information of one of the media with monomedia extention, and the rest of the information that only exists in the multimedia survey. 7 The Print Media surveys in Spain Data Fusion. System In each strata we used a donor-receiving system, assigned the information to each receiver of the closest donor of the available ones, computed the range on the basis of a wide set of variables: Age Role Social Status Weekday Language Household Size Town Etc. Nationality Children in home Sex The Print Media surveys in Spain Data Fusion. System Distances are rank ordered and the pair of most similar individuals is selected: For each stratus h 1 wr1 2 wr2 Receivers †¦ †¦ j wrj †¦ q wrq Donors 1 2 . . i . . p Weight Weight wd1 wd2 †¦ †¦ wdi †¦ †¦ wdp Distance Matrix 8 The Print Media surveys in Spain Data Fusion. System Donors and their weights: Distance matrix is computed and distances are rank ordered from greatest to lowest. Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 8,00 3,00 1,50 2,00 1,00 0,50 8,00 Total donors weight 8 2 6 1 3 7 5 Distance Matrix The Print Media surveys in Spain Data Fusion. System Donors and their weights: Pair with the lowest distance between them is selected. Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 8,00 3,00 1,50 2,00 1,00 0,50 8,00 Total donors weight 8 2 6 1 3 7 5 Distance Matrix 9 The Print Media surveys in Spain Data Fusion. System Donors and their weights: Receiver is pasted donor information Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 8,00 3,00 1,50 2,00 1,00 0,50 8,00 Total donors weight 8 2 6 1 3 7 5 Distance Matrix Donor weight greater than receiver weight The Print Media surveys in Spain Data Fusion. System Donors and their weights: Receiver is written in to the fused file with its own weight and deleted from the distance table Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 8,00 3,00 1,50 2,00 1,00 0,50 8,00 Total donors weight 8 2 6 1 3 7 5 Distance Matrix Donor weight greater than receiver weight 0 The Print Media surveys in Spain Data Fusion. System Donors and their weights: Donor finishes in the table with a weight equal to the difference in weight bettewn that of the donor and that of the receiver Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 7,40 3,00 1,50 2,00 0,40 0,50 7,40 Total donors weight 8 2 6 1 3 7 5 Distance Matrix Donor weight greater than receiver weight The Print Media surveys in Spain Data Fusion. System Donors and their weights: Pair with the lowest distance between them is selected. Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 ,10 7,40 3,00 1,50 2,00 0,40 0,50 7,40 Total donors weight 8 2 6 1 3 7 5 Distance Matrix 11 The Print Media surveys in Spain Data Fusion. System Donors and their weights: Receiver is pasted donor information Receivers and their weights: Total Receivers weight: 3,10 0,60 1,40 1,80 1,10 7,40 3,00 1,50 2,00 0,40 0,50 7,40 Total donors weight 8 2 6 1 3 7 5 Distance Matrix Donor weight less than receiver weight The Print Media surveys in Spain Data Fusion. System Donors and their weights: Receiver is written to the fused file with a weight equal to the donor weight Receivers and their weights: Total Receivers weight: ,10 0,60 1,40 1,80 1,10 7,40 3,00 1,50 2,00 0,40 0,50 7,40 Total donors weight 8 2 6 1 3 7 5 Distance Mat rix Donor weight less than receiver weight 12 The Print Media surveys in Spain Data Fusion. System Donors and their weights: Receiver finishes in the table with a weight equal to the difference in weight Donor is deleted from the distance table Receivers and their weights: Total Receivers weight: 1,10 0,60 1,40 1,80 1,10 5,40 3,00 1,50 2,00 0,40 0,50 5,40 Total donors weight 8 2 6 1 3 7 5 Distance Matrix Donor weight less than receiver weight The Print Media surveys in Spain Conclusions Donor file, Receiver file and Fused file contain exactly the same information in the imputed variables, and this for all the common strata and for all their possible additions. Internal relations among fused variables are kept and are the same for all the files and surveys. For those variables not controlled, distributions should be as similar as possible. Traceability is possible, one can know exactly how many times each record is replicated, and how original interviews are the base for each data. 13 Thank you! WRRS Valencia 2009 14