Hash Functions and Authentication Applications Essay Example for Free

Hash Functions and Authentication Applications Essay Digital Signature or Public-key digital signature is a method of authenticating digital information comparable to common people’s personal signature on documents. The digital signature process is using techniques taken from public-key cryptography. Digital Signature is actually the output of public-key cryptography for signing and verification and is different from ordinary electronic signature like cable, telex, and fax. Since digital signatures are based cryptographic techniques, a digital signature should have the following properties. Digital Signature should be: not forgeable authentic cannot be modify after sending not reusable prevent repudiation The simpler properties are: AUTHENTICITY The importance of authenticity is to prevent authorized intervention. Using the public-key cryptosystems, the recipient will be confident that the sender is real and the message is valid. INTEGRITY Both sender and receiver will be confident that the message sent has not been altered during the transmission. The encryption ensures that no third party can view or read the message. NON-REPUDIATION Repudiation means the act of denying association with a message as in claming a third party sent it. This is true when a recipient of the message assert that the sender attach a signature to avoid any later repudiation. Digital Signature functions maybe possible using Direct or Arbitrated Digital Signature. The Direct approach relies only on communicating parties for their security using the public-key cryptosystems. The problem with Direct Digital Signature approach is the validation, wherein the security of the communication depends only on the sender’s private key. It means that when sender’s security is breach, the whole transaction fails. Furthermore, the sender can also use the repudiation excuse and say that the he never sent a message or say his private keys were forged or stolen. The Arbitrated approach is better, unlike Direct Digital Signature, This approach employ an arbiter to test the sender’s messages and signatures to verify its content and origin. The arbiter, when fully satisfied, stamp the message with date and sent it to its final destination. Arbitrated digital signatures can be implemented using conventional and public-key encryption. In a conventional approach, it assumed that sender â€Å"S† and the assigned arbiter â€Å"A†. Both arbiter and sender will now share a secret key, say â€Å"KSA† and later the recipient â€Å"R† will share secret key as â€Å"KRA†. The sender creates a message and computer it against its hash value M(H) then â€Å"S† submits the message to â€Å"A†. Arbiter will now decrypt the signature, check its hash value, validate the message, and send the message to â€Å"R†. Recipient decrypts the message and restores the original message (M). An arbitrated digital signature using public-key encryption has a different approach wherein the arbiter cannot see the message. At first, the sender â€Å"S† encrypts the message with its own private key and encrypts it again with the recipient â€Å"R private key thereby producing a secret signed message. This signed message will be encrypted again with the senders ID, together the message will be sent to the arbiter. The inner double encrypted message is secure from the arbiter and from anybody except the recipient. The arbiter can only see the outer messages to check the origin of the message and ensure that the sender private and public key is still valid. A replay attack is a type of network attack where valid data transmission is maliciously or fraudulently repeated or delayed. It can be the originator itself or an adversary who intercepts the data and re-transmits it. A simple replay attack immediately sends the same message soon enough that it will arrive within the recipients’ window. A suppress replay attack is when an attacker breach security by initiating a message interception and withhold it for future replay. The attacker will wait for the proper time to effectively replay the message without detection from the recipient. References: Data Security 2003, â€Å"Digital Signatures†,[online], http://www. cs. uku. fi/~junolain/secu2003/secu2003. html#digital Wikipedia, â€Å"Digital Signatures†, [online], http://en. wikipedia. org/wiki/Digital_signature Wikipedia, â€Å"Replay Attack†, [online], http://en. wikipedia. org/wiki/Replay_attack

Step into my Parlor… : Perceptions of Cultural Survival among the Kyapo and Yanomani :: Essays Papers

Step into my Parlor†¦ : Perceptions of Cultural Survival among the Kyapo and Yanomani When caught in the web of global media, the â€Å"cultural survival† of indigenous communities becomes a potent international issue. As affirmed in a 1997 UN declaration, international communities receive, â€Å"with gratitude, the message of harmony and respect for all life brought to us by ancient [indigenous] people whose culture may†¦make a worthy contribution to the world community† (Neizen 2). With the â€Å"politics of shame† winnowing away at the public integrity of Brazil, the two cultures of the Kayapo and Yanomami are strategically set in the international web as endangered peoples suffering â€Å"onslaught of civilization†, yet still worth some â€Å"contribution to the world†. Yet to what degree is their â€Å"worthy contribution† qualified by dominant international definitions of their ‘culture’? The global reception of "threatened" indigenous cultures is colored with pre-existing values and assumptions. In contrast to the dominant consumerist culture pulsing in global politics, indigenous groups are seen to offer elements of fantasy rather than diplomacy, and provide a kick-back to the â€Å"primitive† ideology of early man. As the general public enjoys indigenous romanticism like a favorite Hollywood movie, romanticizing indigenous cultures through media is quite common. Yet, romanticism creates an indigenous cultural dichotomy. Sustained interaction with governments broker change among indigenous people and elements of culture assimilate. Interaction provokes Kayapo demands for goods â€Å"from fish hooks to cooking pots† (Rabben 48). The Kayapo became dependent on whites â€Å"for goods they wanted but had no way of producing themselves† (47). Dominant society assumes that â€Å"cultural survival† is only achieved by preserving a static and untransformed people. To safe guard indigenous authenticity and exotic appeal, the common assumption is such that native ways of life must not be influenced or changed in anyway. However, to survive as a people in the modern world, indigenous cultures must be aware of their civil rights, for negotiations with imperialistic governments are essential. In 1981, the Kayapo were cheated out of 99.99% of their mining profits because they did not know â€Å"enough arithmetic to perceive the trick† in the white man’s contract (71). Only after years of litigation were they able to win 5% profit. The Yanomami are constantly pressured to â€Å"assimilate into Brazilian society as the poorest of the poor† rather than remain a fractioned culture (86). â€Å"Cultural survival† thus becomes a question of protecting the collective rights of an indigenous people from governmental abuse, while educating the people to the extent that they people may choose and protect their own future in a world of inescapable influence.

Property law consultant Essay

This is in reference to your query about legal advice with respect to your property which is currently occupied by three tenants apart from you. This letter explains in detail about each tenant rights, terms and conditions which are legally referenced and relevant to your tenants, residing in ground floor, middle floor and top floor. A view on UK property law, rights and obligations of landlord is provided to you for your understanding and also about your convenient decision making in the matters of your property and also how to deal with your tenants in legal framework. There is also a clear analysis about legal relationship that exists between you and your tenants. First of all, it is important to take a clear note on responsibility of landlord over the property. The said property of Georgian Town House has been taken for a lease period of 25 years and only a period of 9 years have been completed and there are still 16 more years for the expiry of lease period. Therefore, this gives out a fact that it is important to maintain the leased premises. It is a also a fact that you travel on a holiday spending most of your time within and outside UK making it necessary that premises have to be absolutely in tact even in your absence for the convenience of tenants as well to keep the premises out of dilapidation. UK property law clearly states that landlord must undertake repairs to the property whenever required in the structure of the property. The connections of gas, hot water, electrical appliances, common areas and furnitures have to be strictly administered by the landlord. This emphasizes that as a landlord, carrying out repairs wherever required is not only required by property law of UK whereas it is also an act of meeting the obligations and requirements of tenants. Three of your tenants stated that central stairwell which is commonly used by all of you is completely dilapidated and the tenants have been complaining demanding repairs, painting and to establish re-connections of lighting. Please understand that you as landlord have to meet and comply with the UK property laws and any violation to the laws would be seriously viewed inviting penalties. Now, moving on from your rights and obligations as landlord, the next would be a detailed discussion about each tenant and legal relationship that exist between you as landlord and your tenants. Groundfloor – Taxi cab A written agreement of â€Å"licence to occupy† which came into effect on 1. 5. 2008 and as per the agreement taxi cab firm must pay ? 10,000. The taxi cab presently pays a sum of ? 2500 for every three months. The legal relationship between taxi cab and you is that of a tenant and a landlord. Tax cab is responsile for paying the stated sum as rent regularly and tenant is also responsible for bills of gas, electricity, telephone as per the written agreement and further taxes must be regularly paid apart from water and sewerage charges. Taxi cab written agreement expires on 30. 4. 2011 as the agreement is for a period of three years. Therefore it is important to abide by the requests of repair or renovation as required by the taxi cab firm with the fact that lease agreement must be fully complied with meeting the all the requirements. Section 27 pf Tenant Act 1954 is not being discussed here for your reference. Taxi cab also requested you to repair the central stairwell and if this request is not approved by you, there is a scope that taxi cab might waive paying rent, or bring such other damage to the premises which would prove more expensive for repairs to be made. Middle floor which is occupied by a jeweller, who is also your cousin has not entered into any written agreement with you and that does not legally bind neither you nor jewellery to comply with any UK property laws. Oral agreement is not a valid option in the matters of disputes and also consider any decision. However as for now, jeweller is paying a rent of ? 400 per month and is carrying on business during week days. It is also a fact that oral agreement also carries certain rights and obligations both for business tenants and for the landlord, although these cannot be enforced in the courts as written agreements are more valid while filing cases of non-compliance of property laws or tenant laws. The nature of legal relationship between you and jeweller is that of a business tenant and a landlord. Further this tenant must maintain a rent book for the monthly rent paid to you and you are required to put your signature in the rent book whenever you receive rent. This tenant apart from being your cousin has every right and responsibility towards the central stairwell to carryout repairs whereas this must be done with a mutual consent from you. Further it is also a fact that this tenant is standing on the collective opinion of other two tenants that central stairwell must be repaired as it is creating problems for all the clients. Therefore, obliging to the request to repair the central stairwell is more advisable as it would invite more obligations both from business tenants and also from UK property law authorities if in case a complaint against you is launched for non-repair of central stairwell. The top floor is occupied by a commercial artist who also does not carry any written agreement of business tenancy. The tenant also facilitates the floor when there are parties arranged by you which means the tenant is absolutely cordial and compatible with you in the capacity of landlord. This tenant is also paying a small amount towards bills. Further this tenant is also of the opinion that central stairwell must be repaired. All of the business tenants are using the premises all through the business days which means central stairwell is a common area for carrying on respective activities. Another fact is only tax cab firm is a legal tenant with a legal relationship whereas other two business tenants viz. jeweller, commercial artist are not legal tenants due to the fact that there is no written agreement. The sum of rent paid by jewellery and commercial artist is very small whereas taxi cab firm is paying rent on lease. The opinion of all the three tenants is that since the central stairwell is used regularly, it is important to maintain the same in order to prevent any unforeseen occurrence of accidents or breakage. This was the main reason that tenants have approached you to repair the central stairwell. Taxi cab firm along with other two tenants in each floor are performing well in carrying on businesses and therefore, there is no problem of business loss or lack of funds. Further tenants have been very cooperative in paying rents regularly and also in meeting the other expenses as and when required. Some of the rights that can be exercised by you in the capacity of a landlord are viz. , increase of rent, conditions on usage of premises or any other matter pertaining to either rent or premises. Tenants complaints for repair of central stairwell would be valid only when there is a written notice to this effect under Landlord and Tenant Act 1985 which states that notice that be given either verbally or in writing in order to provide sufficient time for landlord to carryout the required repairs. When landlord does not wish to carry out repairs, in such case, tenants have to show the proof of written notice to the court in order to receive a remedial claim. The landlord cannot ignore or overlook any legal responsibilities with regard to the repairs as stated in Section 11 of the Landlord and Tenant Act 1985. As per the law, landlord is responsible for maintaining the roof, gutter, drains, pipes, walls, windows doors or any structure of the property. Section 11 clearly states that landlord must take the responsibility to maintain the repairs of the structure and also to keep the installations such as baths, sinks, sanitary pipes. Taking this section as a guide, central stairwell is within the premises of the property which is used by tenants regularly for business purpose. Therefore, the responsibility of repair rests with the landlord. Conclusively, keeping all of the above facts in view, there are two options at your end to maintain and repair the central stairwell. First is, to carryout necessary repairs to central stairwell and second is to assign the responsibility to one of the tenants whom you confide in to carryout necessary repairs to central stairwell and submit all the necessary bills of repairs to you. Further these expenses can be deducted from the monthly rent paid by all the three tenants. This would solve the problem and further all the tenants would be satisfied. Sincerely, Sd/- (B) Property law consultant References Housing in England – Tenancy Agreements Accessed 20 March 2009 http://www. adviceguide. org. uk/index/family_parent/housing/tenancy_agreements. htm LandLord and Tenant Act 1954 Accessed 20 March, 2009 http://72. 14. 235. 132/search? q=cache:QpO_V-_S0f8J:www. communities. gov. uk/documents/citiesandregions/pdf/131185. pdf+the+Landlord+and+Tenant+Act+1954. &cd=3&hl=en&ct=clnk&gl=in Landlord and Tenants Rights Accessed 20 March, 2009 http://www. insolvencyhelpline. co. uk/legal_issues_explained/landlords_and_tenants_rights. php Renting a home. The key to a quiet life Accessed 20 March, 2009 http://www. lawsociety. org. uk/choosingandusing/commonlegalproblems/rentingahome. page Section 27 Landlord and Tenant Act 1954: a tactical approach Accessed 20 March, 2009 http://www. practicalconveyancing. co. uk/content/view/7631/1121/ The rights of renters Accessed 20 March, 2009 http://www. consumerrightsexpert. co. uk/TheRightsOfRenters. html Tenancy agreement service Accessed 24 March, 2009 http://www. tenancyagreementservice. co. uk/verbal-tenancy-agreements. htm Landlords’ and Tenants’ repairing obligations Accessed 24 March, 2009 http://www. tenancyagreementservice. co. uk/repairing-obligations. htm#notice-of-repairs

Financial performance of ABC Ltd - Free Essay Example

Sample details Pages: 7 Words: 2101 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Introduction Accounting is concerned with collecting, analyzing, and communicate accounting information. The accounting information is helpful to those people who make plans about business and in making important decisions related to the business The aim of this paper is to evaluate the financial position of the company and the importance of credit manager to achieve credit sales targeted and importance of actual figures when estimating the budget. Don’t waste time! Our writers will create an original "Financial performance of ABC Ltd" essay for you Create order This paper consists of two main sections. In the first part, evaluation of the financial position of ABC Ltd uses gross profit margin and net profit margin. The second part concentrates on things need to consider when preparing the budget in order to prevent from biased budget. Part A A) Account Year 1 Year 2 Year 3 Year 4 Sales 296700 296700 370875 445050 Cost of sales 176900 198128 229970 283040 Gross profit 119800 98572 140905 162010 Selling and distribution expenses 35600 40940 47348 57672 Administration and general expenses 45900 49113 52785 56457 Financial expenses 15800 15484 15168 14536 Net profit 22500 (6965) 25604 33345 Evaluate the financial performance of ABC Ltd. Over the four year period. Financial ratio examines the financial health of the business. It helps to identify the financial strengths and weakness of the business. By calculating the ratio, it is possible to provide a good picture of the financial position and performance of a business. Financial ration can be represented in numerous ways. For example, as percentage, as fraction and as proportion. Financial ratio can be classified into profitability, efficiency, liquidity, gearing and investment. ABC Ltd companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial performance is evaluated by using profitability ration of gross profit margin and net profit margin. Gross profit is the difference between the sales and cost of sales. And the ratio is a measure of profitability in buying ad selling goods and service before any other expenses are taken into account. For example: Gross Profit Margin = Gross Profit x100 Sales = 119800/296700 x 100 = 40% Gross profit for the year one is 40%. The most appropriate measure of operational performance for comparison purposes is the Net profit margin ratio. The factors which influence the net profit margin of a business are the degree of competition, type of customer, economic climate and industry characteristics. For example: Net Profit Margin = Net profit before interest and taxation x 100 Sales = 22500/296700 x 100 = 8% Net Profit Margin for the Year one is 8% Year 1 Year 2 Year 3 Year 4 Gross Profit Margin (%) 40 33 38 36 Net Profit Margin (%) 8 (2) 7 7 Gross profit margin of ABC Ltd company has fallen down from 40% to 33%. And again increased to 38% and fall down to 36%. The decrease of the gross profit margin of ABC Ltd was a result of high production cost of the company. The raw material used to produce goods and services has increased. As a result the company is experiencing less gross profit margins. Nonetheless, the Net profit margin of ABC Ltd has been maintained for the last two years, Year 3 and Year 4. Whereas in Year 1 company had a high net profit margin and it gradually decreased and company experience loss of (2) % of Net profit margin. This may be because the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s Gross profit margin decreased from 40 to 33 and affected the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s net profit margin. Moreover, it may be the reason that, the company has high expense such as high selling and distribution expense, Administration and other general expenses. After experiencing a loss in Year 2, company gain 7% of net profit margin in Year 3 and year 4 also. This shows company has minimized their expenses and cost of sales and increase their revenue by generating more sales. Below show graphical demonstration of ABC Ltd financial performance. Account Year 1 Year 2 Year 3 Year 4 Trend Sales 296700 296700 370875 445050 Increased by 148350 Cost of sales 176900 198128 229970 283040 Increased by 106140 Gross profit 119800 98572 140905 162010 Increased by 42210 Selling and distribution expenses 35600 40940 47348 57672 Increased by 22072 Administration and general expenses 45900 49113 52785 56457 Increased by 10557 Financial expenses 15800 15484 15168 14536 Decreased by 1264 Net profit 22500 (6965) 25604 33345 Increased by 10845 According to the above table, all the accounts except the financial expense of ABC Ltd, all others have increased. Total sales increased. Meaning that number of goods and services sold by ABC Ltd have increased and generated a huge amount of revenue. However, the cost of sales also has increased. But compared to sales achieved, cost of sales is less than the sales generated. Meaning that the money generated by sales by the company was spent to make the sales, such as raw material, Equipements, machineries cost. Therefore the company gross profit has increased. The expenses spent to generate the revenue are selling and distribution expenses, administration and other general expenses and financial expenses. All expenses have increased except financial expenses. This may be due to each years increase in sales of the company. As demand for the goods and service increases, more number of good and services are produced. And to deliver the products to customers, costs incurred will be high such as delivery cost, transportation cost and other administrative cost related to the delivery of goods and services. Financing expenses have decreased such as rent paid, electricity, fixtures and fitting etc. As a result Net profit of ABC Ltd increased by $10,845. Part B A) Why credit manager is to blame for poor credit collection There are certain causes why credit manager is to blame for the deterioration in the credit collection period which are beyond the credit manager. Downturn in the economy When the budget was formulated, during that time economy may have been in a very good condition like in a boom. Businesses earn profits and their ability to pay the suppliers would be strong. And based on credit worthiness, ABC company Ltd has released goods on credit facility during that time. After two months of time, the economy turned into recession. During recession, companies reluctant to spend money and have difficulties in paying to debtors, lenders and suppliers. Henceforth customers, who have bought goods from ABC Ltd under the credit facility, would not able to pay as agreed terms and conditions. Liberalize credit policy The next reason which credit manager cannot be blamed, is a formulation of credit policy terms and conditions and implementation of the policy. When developing a credit policy there are certain conditions which should take into account. For example, buyerà ¢Ã¢â€š ¬Ã¢â€ž ¢s strength in the market, available net profit margin, size and type of buyers, buyerà ¢Ã¢â€š ¬Ã¢â€ž ¢s creditworthiness and many more. Any credit policy should include the range of payment, terms, prepayment terms, installments, penalty interest, conditions of sales, methods of assessing customer, explaining credit rating and risk codes, legal actions, follow up methods, staff responsibility and authority, relationship with another and arbitration process. If these clauses are incorporated into the policy, and customers are aware before getting into any sales and customer agreed by signing the terms, then the customer will be binding to it. As a result the credit manager would able to claim for the payment accordingly to the agreement, if a customer is disobeying the agreed terms and conditions. Therefore, it is a responsibility of policy makers of the company and senior management to come up with a strong policy and implementing it. And this could be done in coordination with a credit manager. Another reason could be that, even if the company has a strong policy, without acting upon it, we cannot achieve what we want. For example, if the sales persons or sales manager, or senior management, issue goods without checking the credit worthiness of customer with their friends or close customers and they make own payment paying term their way without consent of credit manager. Increased competition among suppliers The business environment is very volatile. Competition among business increases steadily. Being proactive would be the best solution for the success of the company. During the tough competition, it is essential to revise the credit policy terms as accordingly to customer needs and affordability. Otherwise competitors would be offering more attractive conditions and they are likely to get all customers resulting gain the market share in the business sector. And ABC Ltd would not able to get enough customers to achieve the credit targets allocated in the budget. Quality of goods and services If the quality of the products offered by ABC Ltd is very low, then the customer will refuse to buy the products. Even if they buy the product if the quality is below their expected level, then the payment will be held for some time. And ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a responsibility of the production department to produce the goods with good quality according to customer needs. The goods Delaying in delivering If the company is unable to deliver the goods at the agreed time, then the customer would not able to depend on the company. In other words, failure to deliver the promises will lead to loss of customer and low dependability. Therefore, it is important for production department to provide raw materials and other necessary material to produce goods and ità ¢Ã¢â€š ¬Ã¢â€ž ¢s their responsibility to deliver the goods to customers on time. If the company fails to provide this, then the customers would prefer other competitors and faces low market share and generate low profit. Relationship with sales and credit department The relationship between sales staffs (or sales manager) and credit manager is very important. The credit manager responsibility is that to provide further guidance to achieve sales to the sales staffs. Why manager might submit a budget estimate that is biased. And ways to Company guard against it. According to the CIMA definition of budget, it is a plan quantified in monetary terms, prepared and approved prior to a defined period of time, usually showing planned income to be generated and/or expenditure to be incurred during that period and the capital to be employed to attain a given objective. There are types of budget, managers use when preparing the budget. One of the methods is incremental budget. The budget is prepared using the previous year budget as a basis with incremental amount is added to the new budget. Resources are allocated based on previous years resource allocations. The main advantage of this type of budget is that it is easy to understand and implement and also save time. This could be one of the reasons why budget estimates are based. The main reason is that incremental budget does not take environment changing factor into considerations. Due to changing is economy, budget need to be revised basically periodically and necessary amendments need to be done. Another problem is that, incremental budget does not have incentives to innovative ideas and to reduce cost. Another type of budget could be fixed budget. In fixed budgets, figures are fixed at the beginning of budgetary period. Any change in circumstance, these cannot be changed. For example, due to high inflation, raw material costs (others as well, such as machinery cost, about cost, rent, electricity) increase more that which is estimated in the budget. In fixed budget this cannot be changed. Therefore, actual expenditure exceeds than the estimated value in the budget. A good way to mitigate the budget that is based is that having shorter review periods. For example, if estimated budget is for one year. Then managers can review the budget after three month period or on quarter basis. The second way to guard the company from base budget is that to approach zero based budgeting. Budget starts from zero and items included in the budget should be justifiable to the budget holder. All expenses allocated for the whole project, should justify each activity separately and develop a questioning attitude. This helps to minimize the over spendinging and inefficient. Therefore company cannot spend more that what it is estimated and from the estimated expenditure, expected profits will be generated. Conclusion From above discussion, we can conclude that, increase in company gross profit would have a direct impact on net profit. Generating more sales will increase the gross profits and by minimizing the company expenses, the companies net profit would increase. And the profitability can be compared against the previous years by using ratios and trend analysis. Secondly, businesses normally prepare the budgets annually and quarterly. Regular evaluation of budgets prevents from overspending and adjust the budgets, according to changing the environment. And also in order to achieve high credit facility a budgeted, not only the credit manager should work on it. Other department staffs like sales and senior management should play an important role in doing so. References Atrill, McLaney, Harvey Jenner 2012, Accounting an introduction, 5th edn, Pearson Australia. FICM, GB 1986,  © 2004 FECMA , viewed 1 December 2014, https://www.fecma.eu/Documents/FECMA%20Credit%20Policy%20chapt%20%201.pdf. McLaney, E Atrill, P 2010, Accounting An Introduction, 5th edn, Pearson Education Limited. Riley, Jim 2012, Tutor2u Limited, viewed 1 December 2014, https://www.tutor2u.net/business/accounts/incremental-budgeting.htm. Schaeffer, MS 2012, Essentials of Credit, Collections, and Accounts Receivable, John Wiley Sons, Inc., Hoboken, New Jersey, USA. Page 1 of 14