The Global Food Safety Initiative (GFSI) approves various food safety schemes which allow certified food companies to market their products and services anywhere worldwide. GFSI has brought order and harmony to food safety standards, reducing duplicate auditing in supply chains and providing worldwide proof of adherence to acceptable standards while leaving flexibility and choice to companies in the food industry.

Some of the major food safety standards that have been successfully benchmarked by GFSI are British Retail Consortium (BRC), Safe Quality Food (SQF), International Food Standard (IFS), FSC 22000, PrimusGFS, GlobalGAP, and CanadaGAP.

Each has its place in the food industry. Some are a better fit for crop farms while others apply to food processers, packagers and distributors. This flexibility has accelerated the fast adoption of GFSI-approved standards within food industries.

Thousands of companies in North and South America, Europe, the Middle East, and in Asia have received a GFSI-approved certification that is accepted anywhere in the world. These include such recognizable names as:

Cargill

H-E-B

Shop Rite

Campbells

Hormel

Target

Kraft Foods

Trader Joes

ConAgra Foods

Kroger

Tyson

Costco

McDonalds

Walgreen’s

CVS

PF Chang

Wal-Mart

Daymon Worldwide

Safeway

Wegmans Food Markets

Farm Fresh

Sam’s Club

Win-Dixie Stores

Giant Food

Schwan Food Company

These companies typically demand that suppliers in their food chain demonstrate achievement of an acceptable GFSI-approved standard or at least a verified HACCP Plan (which is the basis of most GFSI standards). The giant retailer Wal-Mart, for example, requires their suppliers to achieve a GFSI-approved certification or risk losing their business.

The momentum to gain a GFSI-approved certification has increased with the 2011 passage of the Food Safety Modernization Act (FSMA) in the U.S. and similar measures approved worldwide. While the Food and Drug Administration (FDA) is slowly implementing FSMA rules for domestic companies, it is cognizant of GFSI-approved schemes and seems to be charting a parallel path, one that will make it easy for those in the food industry to comply with FDA regulations if they already hold a GFSI-approved certification.

Independent consultants are available to assist food growers, manufacturers, processors, packagers, food service operators, distributors, transporters and retailers prepare for certification under a GFSI-approved standard of their choice. Working with a knowledgeable consultant is the quick path to achieving recognized food safety certification, an investment that pays for itself many fold over time.

The hand writing is on the wall. Companies in the food industry today that do not have an acceptable food safety certification are on the road to extinction. World governments are cracking down on outfits that provide tainted goods, misbranded products or cannot demonstrate fast, effective recall systems. Ccertification is fast becoming a prerequisite for participation in profitable supply chains and thus business survival. The safest and most lucrative route for those in the food industry is to focus on achieving certification under a standard successfully benchmarked by the Global Food Safety Initiative.

We all know that quality assurance stands for a proven process of verifying and checking the quality of a service or product. In a BPO, quality pertains to the level of customer service that ensures success of the business venture.

Businesses mostly select BPO firms to ensure continued support for its customers. So quality assurance in a business process outsourcing firm will be able to offer clients with improved processes. Moreover, applying the given standard proves to be one fundamental ways to measure the effectiveness of the on-going business processes.

Quality assurance as an important yardstick improves business procedures. There are some defined standards for judging the existing quality of a BPO firm. Some of the most important standards are Six Sigma, Total Quality Management, ISO 900 and others.

Most standards are designed to attain a greater productivity, efficiency and accuracy in the business services. Now there are wide-ranging advantages of delivering quality assurance of the outsourced projects. The most prominent ones include:

Increased Customer Satisfaction:

Maintaining the quality standards improves overall business profits through the increased customer satisfaction. It further helps companies to strengthen relationships with the customer offering good service continuously. Customers remain involved in this process following a variety of marketing tactics that determine customer needs to be met

Improved company efficiency and productivity

Quality assurance as an essential step is usually performed throughout the service or product life. This is the way flaws, issues and other problems are constantly addressed or corrected that ensures loss of time due to ineffective or inefficient practices.

Improved business relations

Improved business operations pave the way for the accomplishment of the specified performance and the quality metrics. It improves business relations between the outsourcing service provider and the client. The defined quality standard also helps to improve business relations by offering on-demand access to the live reports containing cost structure, operational risks, project progress and others

Improved time-efficiency of every process

By making use of the advanced IT and telecommunication systems with the required quality assurance help in improving time efficiency of every process. On the whole, it also improves the operational efficiency.

Reduces operational costs:

The proven standards ensure that all processes are finely implemented to meet the clearly defined goals. Cost savings is evident from the implemented quality management methods. With the right quality assistance, reduction in the operational costs will be evident.

Enhances brand image of services and products

By utilizing services of any outsource vendor, an organization will be able to improve quality of the major business processes. Most outsourced projects will directly influence the levels of customer satisfaction. When a service provider offers quality assistance, it automatically results in the form of superior customer satisfaction. In this process, the reputation and the brand image of the business organization are highly improved.

Improves the competitive strength

With the given quality standards, BPO firms will endeavor to enhance the standards of customer service. Such standards directly influence the customer perceptions relating to any associated services and products. It creates a favorable condition for the services and products in any targeted markets.

A great deal of discussion is taking place within the natural products industry on this subject. Arguably, there appears to be no single and categorical obligation for governments to adopt Codex standards and guidelines.

However, the preamble to the SPS Agreement (to which all WTO Members are signatories) specifically mentions Codex and states that WTO Members (and hence all SPS signatories) desire:

“To further the use of harmonized sanitary and phytosanitary measures between Members on the basis of international standards, guidelines and recommendations developed by the relevant international organizations, including the Codex Alimentarius Commission.“

In fact, Article 3.1 of the Agreement goes even further than this to state:

“To harmonize sanitary and phytosanitary measures on as wide a basis as possible, Members shall base their sanitary or phytosanitary measures on international standards, guidelines or recommendations, where they exist.“

The key word here, from a legal point of view, would appear to be the word, “shall,” which could perhaps be said to make the Guidelines for Vitamin and Mineral Food Supplements mandatory for all WTO member countries.

This is where possible future legal battles may arise on the international trade level in order to sort out “voluntary” from “mandatory” legal interpretation. On one side the natural health industries, practitioners and consumers and on the other side Codex, the WTO and our own government who’s main interests may or may not be influenced more by international relations and trade pressure.

What about Countries that choose to continue to ignore Codex?

Even if a country decided not to follow Codex guidelines and standards, the standards that the refraining country does employ in place of Codex standards remains subject to a wide range of conditions as set out in detail in Article 5 of the Sanitary and Phytosanitary Measures (SPS Agreement).

In relation to dietary supplements, one of the most important of these conditions would appear to be a requirement to take into account risk-assessment techniques developed by “the relevant international organizations.“

And you should also note that guidelines on risk analysis are already under discussion at meetings of the Codex Committee on Nutrition and Foods for Special Dietary Uses. Unfortunately, the committee has already indicated that this work will be concentrating upon “the development of methodological aspects for over dosage of nutrients.”

Other conditions that would blunt deviating “standards” utilized by non-conforming countries in place of Codex standards include;

A requirement to take into account economic factors as well as the relative cost-effectiveness of alternative approaches to limiting risks

A requirement to take into account the objective of minimizing negative trade effects

A requirement to avoid arbitrary or unjustifiable distinctions in the levels of risk protection that it considers to be appropriate in different situations, if such distinctions result in discrimination or a disguised restriction on international trade

Again, the resultant impact of signing onto earlier trade agreements is that, even if a country decided not to follow a Codex standard within its own borders, they would remain subject to a wide range of conditions set out in detail in Article 5 of the Sanitary and Phytosanitary Measures (SPS Agreement) and thereby made to comply.

Therefore, countries that are members of the WTO are effectively required to implement all Codex standards by virtue of the fact that they have signed the SPS Agreement.

It may not be entirely coincidental that many countries have already begun taking steps to implement stringent restrictions upon the dosage levels and availability of a number of vitamins and minerals, including the United States and Canada, in preparation for the finalization of the Codex Guidelines for Vitamin and Mineral Supplements.

Additionally, what can be said, promoted or advertised as mental or physiological benefit from such substances are already being restricted within the borders of the United States by the FDA who issued “cease and desist” letters to more than 40 supplement manufacturers and distributors last January.

Indeed, the significance of Codex was underscored in 1985 by United Nations Resolution 39/85, whereby guidelines were adopted on consumer protection policies.

One could also argue that countries were already expected to adopt Codex guidelines and standards before either the WTO or the SPS Agreement came into existence on the grounds that a United Nations General Assembly resolution in 1985 gave rise to the United Nations “Guidelines for Consumer Protection.” These guidelines stated that;

“Governments should take into account the need of all consumers for food security and should support and, as far as possible, adopt standards from …Codex Alimentarius.“

Although it could also be said that the use of the word “should” in this text, as opposed to the word “shall,” could arguably be said to amount to something less than a mandatory requirement; nevertheless, the United Nations Guidelines for Consumer Protection were later expanded in 1999 and the reference to Codex was retained.

More recent developments might make the issue of “adoption” somewhat academic however, as the Codex Alimentarius Commission has recently deleted the notification and acceptance procedures from the Codex Procedural Manual.

Prior to this, there had been three levels of acceptance procedures for Codex texts, and countries were, theoretically, supposed to inform the Codex Alimentarius Commission of which level of acceptance they would be applying to each individual Codex standard within its territorial jurisdiction. This is no longer an option.

Consequently, while these notification and acceptance procedures had effectively been ignored already by governments for many years, the fact that they have now been abolished provides further substantiation that in light of the SPS Agreement, compliance with Codex standards and guidelines is effectively assumed to be mandatory.

Finally, it should be noted that the text of the Codex Guidelines for Vitamin and Mineral Food Supplements specifically states in paragraph 1.2 that;

“These Guidelines do apply in those jurisdictions where products defined in 2.1 [i.e. vitamin and mineral food supplements] are regulated as foods.”

As such, given that the United States regulates dietary supplements as foods, notwithstanding the popularity and apparent protections under DSHEA, it seems quite clear that the guidelines will indeed apply in the U.S.

Note: Links to all documentation available at the WINHS.ORG web site

Stay tuned for Part Six: Final Summary

Healthcare is an essential service along with the other basic necessities like air, water, food, clothing and housing. Therefore the practice of healthcare requires that healthcare professionals and other entities associated with healthcare come under a strict code of ethics.

Medical transcription is a profession closely associated with the healthcare industry in both the commercial and operational aspects by documenting the patient-healthcare professional encounter.

The Association for Healthcare Documentation Integrity (AHDI) has come up with the guidelines for code of conduct for healthcare documentation professionals. The code of ethics for medical transcription professionals are as follows:

1. Maintain confidentiality of all patient information including but not limited to peer reviews, quality improvement and risk management protocols with special effort to maintain data security in electronic communications.
2. Implement and maintain standards of professional transcription practice. Respect the rights and dignity of all individuals.
3. Continue professional growth enhancing knowledge and skills, including continuing education, networking with colleagues, professional reading and certification.
4. Strive to provide accurate and timely information
5. Exercise integrity in professional practices including work or professional experience, credentials, affiliations, productivity reporting, billing charges and payment practices.
6. Comply with all laws, regulations and standards governing the practice of patient documentation.
7. Foster environments of employment that facilitate integrity, professionalism and protection of patient information.
8. Strive to advance the goals and purposes of the Association and work for the advancement and good of the profession.

These are code of ethics laid by the AHDI for the members of the association as guidelines. But these code of ethics can be used as guidelines by all entities who are in the business of medical transcription.

Based on the code of ethics a medical transcription service provider has to run its operations:

• Maintaining confidentiality of patient information: Confidentiality of patient information should be maintained at all levels. The confidentiality of the data needs to be maintained at all the stages, during transmission, during usage and during storage using appropriate measures
• Implementing and maintaining professional standards of transcription: The service provider should maintain and implement professional standards of transcription by training the transcriptionists rigorously in one or two specialities enabling them to meet standards of accuracy and turnaround time.
• Continuously enhancing the skills of medical transcriptionists through education: The service provider should educate their team of medical transcriptionists by constantly updating their knowledge base on the latest developments in the field of medicine.
• Provide timely information: Timely information should be provided by the service provider whenever required.
• Exercising integrity in billing practices: The method of billing should fulfill all the billing method principles of being verifiable, measurable, definable, consistent and fair & honest.
• Complying with the laws of patient documentation: The service provider needs to be aware of and comply with all the laws that apply to patient documentation
• Foster the right atmosphere for professionalism and ethics: The service provider needs to create an atmosphere which enables an atmosphere of professionalism.

While outsourcing medical transcription care should be taken to source a service provider who can not only provide accurate transcription services, in a timely manner, using the right technology, through secure means and at reasonable prices, but also follows the code of ethics as recommended by AHDI.

To fully specify a belt, the material, length, and cross-section size and shape are required. In addition, Timing belts require that the size of the teeth be given. The length of the it is the sum of the central length of the system on both sides, half the circumference of both pulleys, and the square of the sum (if crossed) or the difference (if open) of the radii. Thus, when dividing by the central distance, it can be visualized as the central distance times the height that gives the same squared value of the radius difference on, of course, both sides.

Fatigue is the reason for most belt problems. This wear is caused by stress from rolling around the pulleys. High belt tension, excessive slippage, adverse environmental conditions, and overloads caused by shock, vibration, or belt slapping all contribute to fatigue. In clockwise rotation of the driver, the driver pulls belt from lower side and delivers it to the upper side. Thus the tension in the lower side belt will be more than that of the upper side belt. Hence the lower side is called as tight side and upper side is called as slack side.

The power transmission in belt drive is caused by friction between belt and pulleys. However, some relative movement will always exist at driver-belt interface and belt-driven pulley interface due to ineffective friction. This phenomenon is called as slip the belt. Due to slip, its speed will be less than the peripheral speed of the driving wheel and slightly more than peripheral speed of the driven wheel.

There are many criteria for the selection of belt drives. They are built under the following required conditions: speeds of and power transmitted between drive and driven unit, suitable distance between shafts, and appropriate operating conditions.

The open belt drive has parallel shafts rotating in the same direction, whereas the cross-belt drive also bears parallel shafts but rotate in opposite direction. The former is far more common, and the latter not appropriate for timing and standard V-belts, because the pulleys contact both inner and outer belt surfaces. Non-parallel shafts can be connected if the belt’s center line is aligned with the center plane of the pulley. Industrial belts are usually reinforced rubber but sometimes leather types, non-leather non-reinforced belts, can only be used in light applications.

ISO 9000 is a set of standards, a set of leadership and management criteria representing the ultimate in quality management. ISO 9000 is published by the International Organization for Standardization. The standards contained therein offer a framework for the management of every aspect of a business including social responsibility, protection of the environment, energy conservation, documentation and risk management.

The origins of the standard go back to 1959 and MIL-Q-9858, published by the UK Department of Defense. It evolved in 1969 into the NATO AQAP standards, which were further revised into the BS 5179 standards in 1974 and ultimately into BS 5750 in 1979 and ultimately submitted by the British Standards Institute (BSI) to the ISO.

The first ever BSI certification was awarded to the predecessor of a company that is now known as Tarmac. The certificate was awarded in 1978. At present, over seventy thousand sites in the world have been certified by the BSI.

The standards are elegant in their applicability to all types of organisation from small, independent companies to public utilities, multinational corporations or government agencies such as the military. It achieves this by clearly outlining the requirements that must be met by a quality management system without micro managing their implementation.

The grand daddy of international standards is ISO 9001:2008, Quality Management Systems – Requirements. Thirty pages in length, it is possible to obtain the document from the national standards organisation in every country. This is the only standard by which an organisation acquire certification.

The chief advantage for an organisation that is ISO 9000 compliant is that it helps attract new customers. It demonstrates to the world that your company has been audited and certified to the ultimate standard of quality management. Certification provides unequivocal evidence that a business entity is capable of maintaining and documenting quality management. It is an internationally recognised stamp of approval.

So we can see that gaining ISO certification or accreditation can be very beneficial for your business. Not only is it great in attracting new clients, but getting certified also signals to you staff, share holders, suppliers and other third party stakeholders that you are serious about adopting best practice management systems within your organisation.

There are many companies out there that provide ISO 9001 certification services, but as with all things – make sure you do this properly. Avoid firms that offer to fast track your accreditation process, as often the resulting certificate you get will not be worth the paper it’s written on.

The Department of Justice has passed new Americans with Disabilities Act (ADA) requirements which may impact one or all of your ATMs. These new changes set enforceable accessibility requirements of speech output, height & reach and discernable user input controls. These changes may be as simple as a software update, or as comprehensive as a complete machine replacement.

Important Dates

March 15th 2011- ADA Compliance Effective Date

• All newly deployed ATMs must be compliant with the new 2010 standards

• Any existing ATM installed or altered prior to this date can be compliant with either the 1991 ADA standards or the new 2010 standards until March 15th 2012 March 15th 2012- Final ADA Compliance Date

• All terminals must be fully compliant with the 2010 standards

What are the New Standards?

The new 2010 ADA standards consists of both physical accessibility as well as communication requirements.

Physical Accessibility:

1. Height & Reach

2. Accessible Path & Floor Space

Communication Requirements:

3. Voice guidance

4. Discernable input controls 5. Braille instructions

1. Height & Reach

All usable parts of the ATM can not exceed 48″ in height and must not be lower than 15″ above the ground. ATMs which have been previously installed that follow the 1991 ADA Accessibility Standards qualify for “safe harbor” and need not be adjusted for the 2010 ADA standards. Safe harbor does not apply to communication requirements.

2. Accessible Path & Floor Space

A clear and accessible path either in a parallel or forward approach must be 30″ by 48″ minimum.

3. Voice Guidance

All ATMs must have a headphone jack and software that provides voice guidance for all functions of the ATM. This is the most significant change which may impact your ATM. These changes could be as simple as a software update, or as thorough as a complete machine replacement.

4. Discernable input controls

The 2010 ADA standards mandate tactilely discernible input controls where as the key pad is raised from the surrounding machine surface.

5. Braille Instructions

Braille instructions for headphone voice guidance must be present.

Who does this impact?

These new standards impact every ATM available for public use.

Are there Exemptions?

Drive-up ATMs- no height and reach requirements however will have to be compliant with the rest of the regulations.

Multiple ATMs- If a bank provides both interior and exterior ATMs; each such installation is considered a separate location. Accessible ATMs, including those with speech and those that are within reach of people who use wheelchairs, must provide all the functions provided to customers at that location at all times. For example, it is unacceptable for the accessible ATM only to provide cash withdrawals while inaccessible ATMs also sell theater tickets.

What if I fail to comply?

Failure to comply by the final compliance date of March 15th, 2012 will expose you to significant risk in both civil and private lawsuits, DOJ fines, penalties, and Attorney General penalization ($55,000 First offense, $110,000 for subsequent violations).

What does this mean for your ATMs?

Each machine must be assessed and an action plan must be established to upgrade or replace each unit.

Don’t wait until the last minute! Due to the requirements enormous impact, thousands of ATMs across the country will need to be replaced or upgraded.

What Should You Do Next?

Contact a reputable company like Best Products to determine an action plan before its too late.

For over the past decade, there has been a growing demand in the corporate world for U.S. Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) to converge to form one set of universal accounting standards. In 2002, members of the Financial Accounting Standards Board (FASB) and members of the International Accounting Standards Board (IASB) met and issued a memorandum laying out framework for the adoption of IFRS by the U.S. Known as the Norwalk Agreement, the two boards agreed to make “existing financial reporting standards fully compatible as soon as practicable”, and to “coordinate future work programs to ensure compatibility is maintained” (Kieso, 2012, p. EP-2).

Critics against the adoption of IFRS in the United States argue principle based accounting standards leave too much of a judgment call in the hands of the preparer. In other words, IFRS is open to more interpretation than rules based GAAP, and can lead companies to release fraudulent representations. Additionally, disadvantages include an increased ability to manipulate transactional accounting, increased variations in accounting approaches for similar transactions, and fewer rules to consider in determining how to account for a transaction (“Which is Better — Principles or Rules?”, 2011). According to a global fraud report issued by Kroll Inc. for 2012-2013, American and European companies have a higher rate of fraud (60% and 63%, respectively) compared to global averages (“Global Fraud Report”, 2013). Changing accounting standards to be open to greater interpretation may attract higher cases of internal, or company fraud.

Another disadvantage to IFRS is the cost expected to be associated with transitioning from GAAP based standards and accounting information systems to IFRS based accounting information systems. However, while these costs may be high, they are short-term in nature and it is estimated companies will save money in the long term. “Studies suggest that a major impact will be the cost of transition to IFRS. According to research, the benefits to U.S. investors may not exceed costs. Additionally, due to U.S. GAAP’s high standards, financial reporting improvements will be minor. Research also suggests that these costs and benefits will vary across firms and will be difficult to trace upon adoption” (Bolt-Lee, 2009). These costs will burden small to medium sized companies that lack the capital and resources that large MNCs possess. And, according to KMPG, the largest component of IFRS conversion costs are IT costs, estimating that 50 percent to 70 percent of a typical conversion effort’s costs relates to IT (Krell, 2009).

A major holdup in the convergence of IFRS and GAAP rests with control. In the U.S. the Security and Exchange Commission (SEC) has the power when it comes to accounting standards. Although the FASB sets the standards, the SEC oversees and ensures public companies are complying with laws, practices and acting in a manner that facilitates ethical behavior and decision making. “Under the present system, the SEC attempts to ensure uniformity and consistency in financial reporting. However, regulators cannot enforce uniformity in a principles-based system” (Thompson, 2009). If the U.S. converts, the SEC is sure to lose a great deal of control and influence over the accounting and reporting practices.

One benefit to IFRS is standards that are based on principles, unlike GAAP which relies on rules-based standards. Principles-based standards allow more leeway as to how corporations can portray their financial performance (Galuszka, 2008). According to a survey of corporate executives, many of them listed IFRS and principles-based standards as “more intuitive” and “easier to use” than their GAAP counterpart.

The distinction between the two approaches lies precisely where their respective descriptions suggest: principles-based standards are based on a clear hierarchy of overarching principles, contain few or no provisions and rely heavily on the exercise of judgment as to what constitutes fair presentation; rules-based standards are characterized by several anti-abuse provisions and allow relatively less scope for the exercise of judgment in their application. (International GAAP, 2010)

Under rules based accounting, it is sometimes the case that a “transaction must be accounted for in accordance with the rule even if the applied accounting is misleading” (“Which is Better — Principles or Rules?”, 2011). Using IFRS allows a company to use judgment to best represent financial performance, and increase comparability among companies with similar transactions over different industries. “Rules-based accounting has not worked in practice. Critics argue that the present U.S. system does not produce accurate reporting. It focuses on “checking the boxes” more than portraying an underlying economic reality” (Thompson, 2009). IFRS tries to curb this problem through greater interpretation of the accounting principles.

Replacing GAAP standards with IFRS accounting standards will enable interested users of financial statements to make more informed decisions. Currently, “over 115 countries have adopted IFRS, plus the European Union now requires all listed companies in Europe (over 7,000 companies) to use it” (Kieso, 2012, p. EP-2). Most of the developed nations, especially those members of the EU currently practicing international standards, have a higher degree of transparency and reliability amongst financial information. Working towards convergence of accounting standards will make international investing easier, as well as make it easier for users to dissect financial information if located in foreign regions.

Adopting IFRS will, in the long-term, help to reduce cost. Many firms such as Nike, Microsoft, IBM and Apple have operations in several different countries, and therefore must prepare several different accounting books and records under each set of standards. In addition, users of financial statements must be knowledgeable in both GAAP and IFRS to completely dissect the financial information reported by multi-national corporations (MNCs).

Adopting IFRS will open the doors for firms across the globe to hire new talent. According to Matthew Birney, a manager in the financial reporting department responsible for International Financial Reporting Standards at United Technologies says some of the positives to IFRS is access to a wider talent pool (Krell, 2009). In an increasing globalized economy and workforce, hiring may no longer be restricted to hiring new applicants within the country’s borders.

As the world continues to shrink and business becomes even more globalized, a universal set of accounting standards is desired to help harmonize global accounting practices. The benefits of increasing comprehension and creating one set of accounting standards will help facilitate the flow of assets and increase overseas investment. Adopting a principles based approach to accounting will allow preparers of financial information to more accurately portray financial performance relative to the operations of the company. As global business environments improve, it is inevitable that one set of accounting standards is needed.

References

Bolt-Lee, C., & Smith, L. (2009, November 1). Highlights of IFRS Research. Retrieved September 20, 2014.

Galuszka, P. (2008, August 28). Pros and Cons of IFRS. Retrieved September 18, 2014.

International GAAP. (2010, January 1). Retrieved September 18, 2014, from http://www.wiley.com/WileyCDA/Section/id-403632.html

Kieso, D., Weygandt, J., & Warfield, T. (2012). Intermediate accounting (14th ed.). Hoboken, NJ: Wiley.

Krell, E. (2009, April 2). Biggest IFRS Cost? IT. Retrieved September 18, 2014.

Krell, E. (2009, April 6). IFRS Pros and Cons. Retrieved September 19, 2014.

Thompson, R. (2009, September 14). Principles- vs. Rules-Based Accounting. Retrieved September 19, 2014.

Which is Better — Principles or Rules? (2011, April 5). Retrieved September 18, 2014.

2012 / 2013 KROLL GLOBAL FRAUD REPORT SURVEY. (2013, January 1). Retrieved September 19, 2014.

Canada is a Christian nation. In the 2001 census, fully 77.1% of its citizens identified themselves as Christians. Most of them are Catholics – 46.5 percent of the population. Canada also has well over 1,000 Christian foundations that partner with ministries and churches to promote Christian goals and purposes in Canada.

After finding a foundation that is compatible with your organization and ensuring your organization is worthy of funding, your task is to find the foundation most likely to give to your ministry. There are a multitude of variables to take into account as you are evaluating how likely a foundation is to give to a Christian ministry. You’ll want to consider…

o The extent of the assets held by a foundation

o The number of grants it awards to Christian organizations compared to the number it awards to all organizations

o The value of the grants it awards to Christian organizations

o The percentage of the total number of grants it gives to Christian organizations

o The percentage of the total grant dollars it gives to Christian organizations

o The size of the individual grants it awards (the largest, smallest, and average size grants) to Christian organizations

The following are 12 Canadian Foundations that are more likely to give to Christian ministries and churches ranked solely by the size of their assets.

United Way of Toronto

In its most recent reporting year, the assets of the United Way of Toronto amounted to $119,393,870. Its grants amounted to $121,225,431 and 858 of its 4,864 grants went to religious organizations. A fair amount went to Christian organizations. The value of these grants was $16,642,469. The largest grant was $1,845,691; the smallest was $250; the average was $19,397. The proportion of grants awarded to religious groups was $17.64%; the value was 6.02%.

The United Way collaborates with business, labor, and government leaders in Toronto to address critical community issues.

Your organization must become a member agency to receive funding. The United Way generally admits two new organizations a year.

The Leder Charitable Fund

In its most recent reporting year, The Leder Charitable Fund of Spruce Grove, Alberta had assets totaling $26,535,552, and it awarded 819,000 in grants. Fifty-five of its 109 grants went to religion, mostly to Christian organizations. The value was $2,550. The largest grant was $217,000; the smallest was $1,000; the average was $46,273. The proportion of grants awarded to religious organizations was 50.46%; the value was $73.40%.

The Fund’s interests include the mentally disabled, seminaries, universities. Its funding distribution is as follows: seminaries and other religious colleges, 52%; missionary organizations and evangelism, 23%; social outreach, religious fellowship, auxiliary organizations, 14%.

Christian Stewardship Services

In 2007, its most recent reporting year, the Markham, Ontario-based Christian Stewardship Services had assets amounting to $20,975,531. It awarded grants of $755,161. In 2007 127 of its 288 grants went to Christian organizations. The value was $2,097,079. The largest grant was $156,375; the smallest was $255; the average was $16,512. The proportion of grants going to Christian organizations was 44.10%; the value was 41.91%.

Only 2% of its grants directly funded Christian causes (mostly seminaries and other religious colleges), while 95% supported the charitable sector.

Munday-Maxwell & Gaylene Association

In its most recent reporting year, the Munday-Maxwell & Gaylene Association of Burnaby, British Columbia had assets amounting to $19,311,905 and it provided grants of $3,413,980. Of its 226 grants, 111 went to religious groups, mostly to Christian organizations. The value was $3,563,559. The largest grant was $158,000; the smallest was $1,000; the average was $32,104. The proportion of grants going to religious organizations was 49.12%; the value was 33.75%.

The Foundation’s geographic scope is Canada wide. It funding distribution was as follows: seminaries and other religious colleges, 14%; religious publishing and broadcasting, 13%; missionary organizations and evangelism, 12%.

Fleming Foundation (Beamsville, Ontario)

In its most recent reporting year, the assets of the Fleming Foundation of Beamsville, Ontario amounted to $9,270, 207. It awarded $407,195 in grants. Thirty-six of the 253 grants it awarded went to religious, mostly Christian, organizations. The value was $826,009. The largest grant was $212,500; the smallest was $600; the average was $22,945. The proportion of grants awarded to religious, mostly Christian, organizations was 14.23%; the value was 36.48%.

Fundable organizations include Christian organizations that support international aid abroad and social services in Canada such as food or clothing banks, soup kitchens, hostels.

TELUS Charitable Trust

In its most recent reporting year, the TELUS Charitable Trust of Edmonton, Alberta reported assets totaling $5,341,199. Its grants also totaled $5,341,199. Of its 2,027 grants, 531 went to religious, mostly Christian, organizations. The value was $2,435,999. The largest grant was $104,224; the smallest was $250; the average was $4,588. The proportion of grants awarded to religious organizations was 26.20%; the value was 20.00%.

The Foundation’s purpose is to gather donations from corporations inside the TELUS group and forward them to charities. TELUS matches employee contributions on a 1:1 ratio for all registered Canadian, nonreligious charities. The Foundation’s geographic focus is Canada wide.

Christian Economic Assistance Foundation

In its most recent reporting year, the Christian Economic Assistance Foundation of Ancaster, Ontario had assets amounting to $2,520,812. Its grants totaled $8,424,145. Twenty-four of its 65 grants went to Christian organizations. The value was $5,403,438. The largest grant was $518,200; the smallest was $15,300; the average was $225,143. The proportion of grants awarded to Christian organizations was $14.55%; the value was 14.89%.

The Foundation funds societies, organizations, and associations that promote Christian thinking and action. It provides tuition assistance and scholarships and supports schools, Christian schools, and Christian education projects.

Its funding distribution is as follows: 90% to charity; 10% to schools and education.

The De Boer Foundation

In its most recent reporting year, The De Boer Foundation of Concord, Ontario reported assets amounting to $1,062,955 and it awarded grants that totaled $52,930. Religious, largely Christian, organizations received 32 of its 125 grants. The value was $94,731. The largest grant was $10,000; the smallest was $500; the average was $2,960. The proportion of grants going to religious organizations was 25.60%; the value was 28.22%.

The Foundation’s funding interest is Christian organizations, schools, missions, and missionaries. It funds building, operating, and program expenses, and special projects. Its geographic focus is Canada wide, emphasizing Ontario.

Fleming Foundation (Abbotsville, Ontario)

In its most recent reporting year, the Fleming Foundation of Abbotsville, Ontario had assets totaling $805,133 and it awarded grants amounting to $314,975. Thirty-one of its 76 grants went to Christian organizations. The value was $1,538, 848. The largest grant was $379,000; the smallest was $350; the average was $48,640. The proportion of grants awarded to Christian organizations was 40.79%; the value was 73.05%.

The Foundation’s funding interests include Christian organizations and churches. Its geographic focus is Canada wide. Its Christian funding distribution is as follows: missionary organizations and evangelism, 73%; places of worship, congregations, parishes, diocese, fabriques, etc., 14%; religious publishing and broadcasting, 4%.

William Voortman Fund

In its most recent reporting year, the William Voortman Fund of Waterdown, Ontario reported assets amounting to $322,309 and grants of $1,217,000. It provided 86 grants, with 49 going to religious, mostly Christian, organizations. The value was $914,750. The largest grant was $150,000; the smallest was $1,000; the average was $18,688. The proportion of grants awarded to religious groups was 56.98; the value was 36.63%.

Inner Peace Foundation

In its most recent reporting year, the Inner Peace Foundation of Ancaster, Ontario claimed assets totaling $25,207. It awarded $27,000 in grants. Fifty-three of its 129 grants went to Christian organizations. The value was $427,025. The largest grant was $47,500; the smallest was $1,000; the average was $8,057. The proportion of grants awarded to Christian organizations was 41.07%; the value was 44.45%.

The Foundation’s geographic focus is the Niagra-Horshoe area and third world countries. It funds Christian education, organizations, and schools, Mennonite Churches and organizations, missions, missionaries, and religious media. It also provides tuition assistance.

EnCana Cares

In its most recent reporting year, the assets of EnCana Cares of Calgary, Alberta amounted to $19, 813, and it awarded $2,862,756 in grants. Forty of the 1,500 grants went to religion, the vast majority of which to Christian organizations. The value of the grants was $919, 615. The largest grant awarded was $131, 742; the smallest was $250; the average was $22,990. The proportion of grants awarded to religious organizations was 2.66%; the value was 8.49%.

EnCana seeks to bolster the well being and sustainability of the communities in which it operates. Its geographic focus is Canada wide. It funds only religious organizations with programs that are non-sectarian and that prioritize capacity building. Organizations must be financially viable to be eligible for grants.

This list of foundations will provide you with a good place to start as these are foundations supporting Christian ministries in Canada that have the largest assets. However, you will still need to take other issues into consideration that are specific to your organization.

Many standards were published by the International Standards Organization historically. Some of them were famous like ISO 14001 on environmental management and other standards have high expectations like ISO 26000 on social responsibility. But none seems to provoke cost reductions more than ISO 50001 issued initially in 2011.

What is it?

ISO 50001 energy management systems is a voluntary International Standard developed by ISO. It gives organizations the requirements for energy management systems (EMS) and serves organizations large and small, in both public and private sectors, in manufacturing and services.

ISO 50001 can establish a framework for industrial plants; commercial, institutional, and governmental facilities; and entire organizations to manage their energy efficiently. In fact, it is estimated that the standard could influence up to 60% of the world’s energy use.

Why is it important?

Energy is critical to organizational operations and can be a major cost in performing daily activities. In addition to the economic costs of energy to an organization, energy can impose environmental and societal costs by depleting resources and contributing to problems such as climate change.

In this context, Individual organizations cannot control energy prices, government policies or the global economy, but they can improve the way they manage energy in the own premises. Improved energy performance can lead to rapid benefits for an organization by maximizing the use of its energy sources and energy-related assets, thus reducing both energy cost and consumption.

What does this standard mainly accomplish?

1. It assists organizations in making better use of their existing energy-consuming assets.

2. It facilitates communication on the management and control of energy resources.

3. It promotes energy management systems.

4. It orients facilities towards evaluating and prioritizing the implementation of new energy-efficient technologies.

5. It formulates a framework for promoting energy efficiency.

How does it work?

ISO 50001 is based on the ISO management system model familiar to more than a million organizations worldwide who implement standards such as ISO 9001 (quality management), ISO 14001 (environmental management), and ISO 27001 (information security management).

In particular, ISO 50001 follows the Plan-Do-Check-Act process to continually improve energy performance and EMS.

ISO 50001’s implementation is expected to address what the organization does to effectively manage energy resources. It provides a framework of requirements for organizations to:

· Develop a policy for more efficient use of energy

· Fix targets and objectives to meet the policy

· Use data to better understand and make decisions about energy use

· Measure the results

· Review how well the policy works, and

· Continually improve energy management.

All the above can effectively be implemented with the assistance of an energy consulting firm.

What about the Middle East?

Several countries that use most electricity per capita are located in the Middle East, and more specifically in the Gulf region. Huge developments as well as excessive need for air conditioning in countries like Qatar, Kuwait, UAE, and Saudi Arabia require a lot of electrical power supply. But instead of constructing more power plants, it is better to manage the energy requirements and try to reduce the energy demands. But first, awareness need to be conveyed to the decision makers in this region, similar to other parts of the world.

The need to continuously upgrading regulations to control and limit unnecessary power demands is an huge but feasible challenge for governments. Energy consultancy firms can surely help in this endeavor. The other great challenge is to drive top management of any organization to commit to and understand the benefits of implementing energy management systems.

In brief, the barriers to adopting ISO 50001 are the limited technical knowledge at organization level, the difficulty in obtaining financing, and the weak legislation concerning energy efficiency.

In Conclusion

ISO 50001 has been able to draw on numerous national energy management standards, specifications and regulations, including ones developed in China, Denmark, Ireland, Japan, Netherlands, Sweden, the USA and the European Union.

Reducing consumption of energy without sacrificing the operations of the facility is a dream come true for many energy conscious organizations. With its simplicity and all the benefits that it draws, time will prove that ISO 50001 is one of the best standards that ISO has ever developed.