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Financial Analysis

R.E.C. Inc.’s staff of accountants finished preparing the financial statements for 2010 and will meet next week with the company’s CEO as well as the Director of Investor Relations and representatives from the marketing and art departments to design the current year’s annual report. Write a paragraph in which you present the main idea(s) you think the company should present to shareholders in the annual report. Why do you think those ideas should be included?

Sample Solution

As a Social Worker within the Voluntary sector, I do hold a legal mandate for intervention as enshrined in legislation. However, I do have a duty to ensure my work is governed by the legal framework to ensure the young people I work with are aware of their rights, their needs are met and they are safeguarded from harm. It is also important I have an understanding of the legislation to ensure the young people I support are receiving the best level of care/support and advocate on their behalf if there is a discrepancy. Whilst having a knowledge of legislation it is important it is also key to examine the wider political context. As a consequence of ‘Troubles’, Northern Ireland is an area of high social need and deprivation (Kenway et al, 2006). As a result, Duffy (2008) suggests, people of Northern Ireland live in a ‘socially deprived and ‘divided society’. As a consequence, there is a greater demand on and for services. Due to lack of resources and the quality of existing services, needs are not being met. In this environment it is therefore essential to have a legal framework which protects the rights and needs of vulnerable Care Leavers. Whilst there is legislation and policy in place in relation to Care Leavers, recent messages from research highlights that more can be done to tackled the disadvantage faced by this vulnerable group The Children (NI) Order 1995 established the overriding principle of the paramountcy of the child which must direct the work of each HSC Trust in its general duty to “Safeguard and promote the welfare of children within its area who are in need”. The Children (Leaving Care) Act 2002 reinforced this duty and extended the HSC Trusts responsibilities to Young people leaving care, to include a continued obligation to provide support until aged 21 years and in certain circumstances until aged 24. While both Miss X and Miss Y are no longer ‘Looked After’, under the Children Leaving Care Act they would be categorised as ‘Former Relative’ Young People. The implication of this is the local Trust has a duty to provide support to meet their needs whilst ensuring they are safeguarded from harm, this therefore is the mandate for commissioning the services my agency offer. However, under the provisions of the Leaving Care Act there is no formal mechanisms for the option to ‘staying put’ rather than making the accelerated transition to independent living {Munro 2010} Miss X was in a very settled foster placement and her ultimate choice would have been to remain in this placement for as long as possible however despite arrangement’s being in place for her to continue living in her placement under the GEM scheme, her foster carers decided this was not an option and Miss X had to move out the night before her 18th birthday. This had a detrimental effect on Miss X’s emotional wellbeing and compounded her feelings of rejection. If there was an inbuilt mechanism within the legislation with clear financial benefit’s outlined this may have change her foste

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