Monthly Archives: July 2016

Protection Against Data Loss For Your Business

If your computer hard disk fails today, will you be left unprepared? Will a computer breakdown affect your work or your business adversely, or cause monetary and financial loss and ruin?

The initial step to prevent this is to know about data recovery services as part of your preparation to avert the complications and difficulties associated with data loss in your computer system. adidas zx 500 mujer If you wish to play it safe and prepare for the worst, then you need to take a look at online and offline secured data storage and data recovery services.

Both of these services have the same purpose – to protect the data and files that you have spent countless hours creating, and which will become inaccessible, damaged or lost in the event of a computer breakdown.

How does the online and offline secured data storage works?

There are 4 simple steps involved in any secured data storage and recovery procedure.

1. fjallraven kanken goedkoop Installation of a simple backup software to backup your desktop or laptop and server to store the information. kanken baratas 2. Nike Air Max 2017 Dames zwart Running an initial backup of your selected data especially at night after business hours. Goedkoop Nike Air Max 3. asics gel nimbus 17 mujer Enjoying automated backup offsite of your data files every night without human intervention. adidas pure boost uomo 4. adidas gazelle Getting technical support via online instructions or through the phone from support department of vendor whenever necessary.

This will make the task of storing your data on disks, tapes and recorded media a redundant and unnecessary step. Fjallraven Kanken NO.2 UK All you need is to set a timing schedule where you will allow your computer data to be transmitted seamlessly and remotely to a secured data center for storage and retrieval.

In the event of a computer crash or failure, you can easily access your data again and replicate the data and files in your restored computer, so that your business can continue unhindered exactly at the same point where you were before the computer crash or failure.

If you run a business and use computers to handle your records and accounts, it is most important for you to use a remote data backup service to back up your data and files conveniently.

5 Reasons Your Business Should Have an Information Protection Policy

Information is the lifeblood of all businesses, but many business owners and high level managers often overlook the security of their business information to focus on what they consider more important; “the generation of revenue.

” Many even know the risk well in advance but take on the mentality, “It will never happen to us.” Then the inevitable happens.

Experience has proven that the disregard for the protection of business information is disastrous. The smallest vulnerability in a business’s Information Security System (ISS) can and does cause businesses thousands, even millions of dollars in financial loss everyday. Experts have found that in the majority of the cases involving “loss” from the theft of information that the business owner(s) or managers were aware that potential breaches existed and did nothing to correct the issue. Experts also point out that in 99% of the cases that the cost to fix the breach would have been thousands to millions of dollars cheaper then the loss the business sustained from the breach itself.

According to “Trends in Proprietary Loss” (ASIS International, 2007) these are the top 5 reasons businesses of all sizes should have an active and progressive Information Security System (ISS) and Information Security Management System (ISMS) in place.

  • Loss of reputation/image/goodwill – Taking a hit in the pocket could be bad but not as half as bad as taking a hit to your reputation. Many business can rebound from loss of revenue but repairing your business reputation can cost astronomical time, effort and money. The implications are overwhelming in most cases.
  • Loss of competitive advantage in one product/service – When you have been working feverishly to stay ahead of the game but your competitor beats you to the finish line every time, “There’s a hole in your boat.” The leaking of trade secrets, product delivery timelines and other business processes can completely derail a business and destroy its competitive advantage.” In 2006 there was a well known case of information theft concerning an employee from a major beverage. That employee stole trade information and conspired to sell it to another beverage company for 1.5 million dollars.The employee was arrested after the competitor turned her in.
  • Reduced of projected/anticipated returns or profitability – This can occur when your competitor knows your pricing strategy. If they’re selling the same type of product or service as your business they can, and will easily outprice you.
  • Loss of core business technology or process – A quick Google search will give you some insight on how businesses lose billions in the process when technology is leaked or stolen. The case of the drawn out and costly battle of the “Cell Phone Giants” comes to mind. Nike Air Max 2017 Homme Do a Google search about it. nike air max 2016 heren blauw There are some really insightful facts that you may not have known about the case.
  • Loss of competitive advantage in multiple products/services

All of the above are sound reasons while your business should have an active information security policy. I am of the opinion that any business that regularly loses money and fails to implement processes to stop it,will soon be out of business. Therefore, I encourage all business managers, executives and owners to take the protection of their information seriously. Fjällräven Kånken Väska Make time to review your current information security processes and policy with your security manager. Listen to his/her concerns and recommendations. After all that is what you hired him/her for. air max Concentrate on making your security a “Necessary good” instead of a “Necessary evil” and dedicate a reasonable but flexible budget to immediately address new or unexpected security threats. Nike Flyknit Uomo It could truly save you a life of headaches, court battles and money in the end.

Below are a few recommendations that I believe will help any business to begin improving their information security process. It will also help to improve overall security in general.


  • Ensure that sensitive information is only accessible to a small group of people based on a need to know basis. This information is to be kept in a secure area with progressive and redundant security measures.
  • The first level of security can be posted signage that designates the level of authorization required to be in specific areas. These signs should also advise the consequences for ignoring them.
  • The second level of security may include CCTV cameras which are manned or unmanned (but have the ability to be reviewed later). Cameras serve as a good method to detect, deter and in some cases respond to nefarious behavior.
  • The third level of security mandates designated key cards or key fobs to enter restricted areas. This authorization can also be indicated by color coded ID badges. A security checkpoint guarded by trained security officers is also an option.
  • The fourth level of security concerns areas where the most sensitive information is held. This area should include CCTV cameras, locked file cabinets and safes. This should be supported by a well written Information Protection Policy created in partnership with an experienced security professional and it should be strictly adhered to.
  • Lastly, a schedule for audit and compliance should be instituted and a designated person appointed the responsibility for its oversight. New Balance buty dziecięce This recommendation has more to do with Information Security Management, which I will discuss in a later topic.

General Information Security Practices

The preceding concerned security strategies for highly sensitive information however, we must not overlook the need for the security of general business information. Information comes in many forms and businesses must protect them all. Here are a few more tips that I recommend to improve your current Information Security Policy:

  • Ensure that all documents that contain personal, personnel and company information are always kept secure. This information should never be left lying around on someone’s desk or in their inbox. Always keep this type of information under lock and key and designate a person to ensure strict accountability.
  • Ensure that you have a information security policy in place and share it with your entire staff. Mochilas Kanken Big This policy should include how to file or discard company information.
  • Ensure that your company has a shredder and include shredding regulations (what should be shredded, when and by whom) into your policy.
  • Always ensure that someone in your organization stays abreast of current cyber threats. This person is normally the head of the IT department or your security manager. He/she should also ensure that your anti-virus and firewall systems are regularly updated and tested. Nike Air Huarache Heren If your company does not have a dedicated IT department of manager it wouldn’t hurt to consult with an IT Security firm to get a check-up.
  • Ensure that your Information Protection policy includes regulations pertaining to thumb drives and portable hard drives. The policy should clearly state what information can be saved or uploaded from and to the devices. Also consult with your IT department to disable the USB ports on your computers and networks if necessary.
  • Finally, every business should have a Non-Disclosure Agreement. NDAs set the expectations for your employees as it pertains to the privacy of your business affairs, processes and materials. It also provides the recourse for violating the policy. Sample NDAs can be found on the web, but I recommend consulting with your attorney to ensure that your NDA provides you and your business optimum protection.

That about sums it up. I believe that by implementing these strategies that every business can improve the protection of their information and reduce the chances of suffering financial loss. In many cases you may even increase your profitability, which is why we are all in business anyway. adidas yeezy boost 350 v2 hombre I hope that you found this information valuable. Never underestimate what a solid Information Security Program can do for you.

Thanks for reading and I hope that these quick security tips help to kick start or rekindle your Information Security Program.

Author: Melvin E. Key, CPP

Below is a little information about me. Thanks for reading and I hope to deliver you more quality articles that will brighten and lighten your day. Melvin is the CEO and Owner of MVP Protective Services, a very reputable and successful Washington, DC based Security company for the for 11 successful years and counting. He is a highly decorated retired Washington, DC Police Captain and a Certified Protection Professional (CPP) with ASIS (Amercian Society for Industrial Security). Melvin serves as the Director of Security for the Embassy Suites Hotel in the center of Downtown, Washington, DC and is a consultant and preferred vendor in the Hilton, Marriott and Hyatt hotel chains. Melvin serves as the Chair for Chapter Development on the ASIS National Capital Chapter and serves on the committee for Private Security and Police Partnerships.

Can Help Business Concerns

Machinery loss of profit

Despite all the precautions taken by managers, companies may suddenly find itself in a situation that threaten its survival, e.g. as a result of natural disasters, accidents, fire, industrial espionage, sabotage, damage to their reputation, or the failure of a supplier, the power supply or a telecommunications network.

It is well accepted fact that risks can never be entirely eliminated. However, while corporate managements cannot guarantee that losses will be precluded, they are at least expected to deal with loss events and the attendant aftermath in a satisfactory manner.

In addition to the traditional tasks of risk management – identifying, analyzing, reducing and transferring risks companies are thus increasingly being expected to prepare systematically to deal with loss events. A step for this purpose is machinery loss of profit.


Under both machinery and fire insurance, indemnity is provided, in respect of damaged or destroyed machinery, solely for the material loss sustained by the insured. These types of insurance do thus not protect the insured against all the losses which arise in connection with a fire or the breakdown of machinery, since in most cases a material loss also causes an interruption or interference of the insured’s business operations. The result is a financial loss in the form of lost profit and unearned standing charges. In many cases the loss sustained as a result of an interruption or interference of business operations by far exceeds the mere material loss. Nike Pas Cher An awareness of the need for insurance protection against the financial consequences of material damage arose at the beginning of this century, and the result was the introduction of the two variants, loss of profits following fire insurance and loss of profits following machinery breakdown insurance – also called machinery loss of profits (MLOP) insurance. As the size of modern production facilities increases, MLOP insurance is becoming more and more important. The individual production stages in modern processes are often accomplished by just one machine, the failure of which leads to substantial interruption losses.

Machinery loss of profit policy is just a replica of fire loss of profit policy. Like fire loss of profit is require standard fire policy same with MLOP. It requires machinery break down policy or boiler and pressure plant policy or eclectic equipment policy. Koop Fjallraven Kanken In US it is known as Business interruption insurance. Sometimes it is also called as business income coverage or loss of profit insurance, is typically a rider or endorsement added to a business’s property/casualty policy. As such, what’s covered under the main property/casualty policy will determine what is and is not covered for business interruption. For example, P/C policies typically cover fire, but not floods or earthquakes, so if an earthquake damages the business, your business interruption coverage won’t kick in unless insured have obtained additional coverage for earthquakes.

Need for MLOP

Business expert Ms.Meenakshi Gupta said this policy is must for every business organization as the market competitions is so tight that one minor loss can ruin the whole business.

The incident of machinery breaks down not only cause loss of property to industry but result in stoppage of work, resulting in loss of production and loss of fixed charges which ultimately results in loss of profit. To cover loss of profit because of machinery breaks down it requires a specific policy given with machinery break down policy or boiler and pressure plant policy or eclectic equipment policy.

The basic features of MLOP insurance will be dealt with.

1 Subject matter insured

MLOP insurance provides cover for the actual loss of profits sustained as a result of a business interruption caused by material damage indemnifiable under machinery insurance. MLOP insurance provides indemnity also in cases where the material loss amount falls below the deductible to be borne by the insured under the machinery cover. Basically speaking, a loss due to an interruption or interference of business operations is made up of the following factors:

1. The reduction in operating profit, i.e. the profit from selling the goods produced and traded by the insured and from rendering services.

2. The standing charges, i.e. the costs incurred entirely or in part if operations are interrupted or impaired. These comprise wages and salaries, including social security contributions if they continue to become due during the interruption; interest, economic depreciations, basic rates for third-party energy, expenses for the current upkeep of buildings and machines, rent, taxes and other non-specified working expenses, expenses for the preservation of vested rights, insurance premiums and other business expenses, e.g. guaranteed commissions.

3. Not included in standing charges, however, are turnover taxes and expenses for raw or auxiliary materials, fuels and goods purchased unless they serve to continue operations; excise taxes, freight charges, specified license and inventor’s fees and similar expenses. asics buty sklep online Loss minimization costs are also covered if they lower the insurer’s obligation to indemnify. These include expenses that avoid, minimize or terminate an interruption loss soon after the occurrence of material damage.

Loss minimization is of great importance in MLOP insurance. The following are examples.

1. Purchase/sale of semi-finished goods

2. Provisional repairs

3. Early overhauls

4. Purchase of non-identical (but compatible) machinery

5. nike femme Express, airfreight

6. Overtime work, additional shifts, work on Sundays

7. To accelerate repairs on undamaged machines to reduce the interruption loss

8. Rent of machinery (e.g. transformers, boilers, compressors)

9. Shifting of operations to alternative plants

10. Making up for the production loss after reopening


Machinery loss of profit policy gives cover against consequential losses following loss or damage to the property insured under machinery breakdown and/or boiler and pressure plant insurance. This policy covers actual financial losses suffered by the insured due to business interruption arising from:

a) Reduction in turnover and

b) Increase in cost of working

The standard policy thus insures the loss of gross profits in the business because of accident to the machinery, boiler and pressure plant, electric equipment covered under respective policy.

What Can Be Insured?

Continuing Overhead Expenses: – which have to be met out of reduced earnings such as rent, taxes, interest on debentures, mortgages and loans. Increase in Cost of Working: – necessarily incurred to overcome or to minimize the effects of damage upon the business such as renting of temporary premises, hiring of machinery or extra labour costs.

Loss of Profit: – which would be earned by industry if there was no damage to machinery.

Wages: – of employees not gainfully employed during the interruption period and payments to employees whose services are no longer required.

Indemnity Period

In contrast to a material loss, the loss of profits following a business interruption depends on the time factor involved. hogan scarpes In other words, the longer the period for which operation is interrupted or impaired, the greater the loss of profits. kanken mochilas For this reason it is essential to set a certain limit for the period during which the insurer is obliged to provide indemnity for an interruption loss. This is done by the insured specifying an indemnity period limit which represents the maximum time for which an insurer is liable for loss of profits. The period of indemnity begins on the date on which material damage could first be said to have occurred, as judged according to the recognized principles of engineering, at the latest, however, on the date when the loss of profits commenced. Generally the indemnity period limit is three, six, nine or twelve months. The basic rule is that the indemnity period limit should relate to the amount of time required for removing the interruption loss, i.e. for repairing the machinery damaged or for the delivery of new machinery in cases of a total loss, assembly and trial run. Higher premiums are, of course, charged for long indemnity period limits.

In other words the indemnity period commences with the date of damage and lasts till such a time as the business is restored to its pre damaged level or the period stipulated policy which ever comes first. The policy insures earnings of the business lost during the indemnity period. But in any case indemnity period will not exceed 12 months.

Graph showing relation of indemnity period with damage

Sum Insured

Sum insured is net profit plus standing charges. For calculating profit past years data are taken. It is difficult to calculate gross profit for future so it is allowed to increase gross profit by 50%.

Refund of premium is allowed if estimated figure is more then the actual figure but subject to that refund does not exceed 50% of premium collected.


Premium rates depend on the critical nature of the machinery covered by the breakdown or explosion policies; their relative importance and contribution to final output; the repairs, maintenance and stand by facilities available and the indemnity period opted.


1. Loss or damage to machinery or other items which are not listed in the list of machinery insured even if the consequence of material damage to an item indicated in the list of machinery insured is involved

2. Any restriction on reconstruction or operation imposed by any public authority

3. Shortage, destruction, deterioration and spoilage of or damage to raw materials, semi-finished or finished products or catalyst or operating media even if the consequence of material damage to an item indicated in the list of machinery insured is involved

4. Alterations improvements or overhauls being made while repairs or replacements of damaged or destroyed property are being carried out

5. Extension of repair period beyond 4 weeks on account of

a. Cheap Fjallraven Kanken Big Inability to carry or delays in carrying out repairs

b. Prohibition to operate the machinery due to import and/or export customs & other restrictions or by statutory regulations

c. Inability to secure or delays in securing replacement parts, machines or technical services

d. Transport of parts to and from the insured premises

6. Willful acts or Gross Negligence on the part of Insured &/or his employees

7. War or warlike operations, Civil Commotion, Strike & Locked-out workers

8. Nuclear reaction, nuclear radiation or radioactive contamination

9. Loss or damage caused by any faults or defects existing at the time of commencement of this insurance within the knowledge of the insured or his responsible representatives whether such faults or defects were known to Company or not

Time exclusion

Explosive factory, petrochemical, power plant and fertilizers 14 days exclusion where as in other industry it is 7 days.

Underwriting consideration

– Risk inspection report.

– Description of plant

– Date of make

– Work performed

– Alternative means of working

– Repair time

– Spare parts held

– Unattended plant

– Percentage of daily loss. Incase production is halted.

– Any alternative means of working available.

– Stand by machine.

– Breakdown experience.

The possibilities of loss minimization

The results of MLOP insurance depend to a great extent on the loss minimization measures taken. It is therefore quite obvious that this topic deserves special attention. Such measures for loss minimization are, for example, the hiring of substitute motors, generators, transformers, boilers, small turbines, etc. or the speeding up of repair work by carrying out complex welding operations even on high-alloy materials or using metalock and other special repair methods on the damaged components.

Terms used in policy:

The following terms used in this policy will be defined as follows:

a. Gross Profit is defined as the sum produced by adding to the Net Profit the amount of all insured fixed charges. Nike Air Max 2017 Goedkoop If there is no Net Profit the amount of all insured fixed charges less that proportion of any loss from business operations as the amount of the insured fixed charges bears to all fixed charges.

b. Women Air Jordan 12 Net Profit is defined as the net operating profit exclusive of all:

1) Capital receipts and accruals; and

2) Outlay properly chargeable to capital;

Resulting from the business of the Insured at the described location after due provision has been made for all fixed charges and any other expenses, including depreciation, but before deduction of any taxes on Profits.

c. Insured Fixed Charges are defined as all fixed charges unless specifically excluded in the declarations.

d. Sales are defined as the money paid or payable to the Insured for:

1) Goods sold and delivered; and

2) Services rendered;

e. Nike Air Max 2017 Heren blauw Rate of Gross Profit is defined as the rate of Gross Profit earned on the sales during the twelve (12) full calendar months immediately before the date of physical loss or damage to the insured property.

f. Standard Sales are defined as the sales during that period in the twelve (12) months immediately before the date of the loss or damage to the insured property which corresponds with the period of indemnity.

Marketing aspect for betterment of MLOP policy in India

Capered to other products of engineering insurance, MLOP is very less in number. This product requires proper advertisement and making the small business owner aware of this policy. This policy is more suitable for small industrial sector of India which facing many difficulties. Agents are required to train about coverage and usages of policy, so that they will be in position to explain other. Special advertisement campaign is required.

Vishnu Ramdeo MBA (Insurance) National Law University Jodhpur.

Depreciation, Causes of Depreciation, Need for Provision of Depreciation

Life span of an asset to a business rests primarily, on the purpose of its acquisition and secondary, on its nature. sac à dos fjallraven kanken pas cher An item acquired for immediate consumption or sale is a short-lived asset and that meant for prolonged use, is long lived asset, though both produce revenues.

Whereas the former asset expires within one year of its acquisition, the latter asset lasts longer. Hence almost entire expenditure on a short lived asset becomes an expense and is matched against current year’s revenue.

But the position is otherwise with a long-lived asset which wears out or depreciates over a long period. Accordingly, the outlay of a fixed asset is spread over several years and annually only a fraction thereof expires. Simply, this fraction, called expired cost or depreciation, is charged against current revenues and the rest, termed un expired cost, is carried forward for future expiration.

“Depreciation may be defined as the permanent decrease in the value of an asset due to use and/or the lapse of the time.” -Terminology of Institute of Cost and Management Accountants, England

“Depreciation is the permanent and continuous diminution in the quality, quantity or value of an asset.” -Pickles

“Depreciation may be defined as measure of the exhaustion of effective life of an asset from any cause during a given period.” -Spicer and Pegler

“Depreciation is’ the gradual and permanent decrease in the value of an asset from any cause.”-Carter

Objects of making provision for depreciation

For attaining following objects, depreciation accounting is a must for every business:

(1) Recovery of cost incurred on fixed assets over their useful life so as to keep owner’s capital intact;

(2) Provision is for replacement cost on the retirement of original assets ;

(3) to include the depreciation in the cost of production to find out the correct cost of production;

(4) to find out correct profit for the year ;

(5) to find out the correct financial position through balance sheet.

Causes of Depreciation

Depreciation may be of two types :-

(1) Internal-Depreciation which occurs for certain inherent normal causes is known as internal depreciation. adidas neo hombre The causes of internal depreciation are :

(1.1) Wear and Tear-An asset declines on account of continued use e.g. building, plant, machinery etc. such decline depends upon quantum of use of an asset. If a factory works double-shift instead of single shift, depreciation on plant and machinery will be doubled. It is obvious that such loss is unavoidable. An asset may be kept in proper working conditions through repairs for the time being, but it can not be done so permanently: At one time the asset will become unfit for repairs, when it will no longer be suitable.

(1.2) Depletion-Some assets decline in value proportionate to the quantum of production, e.g. mines, quarry etc. air max pas cher With the raising of coal etc. from coal mine, the total deposit reduces gradually and after some time it will be fully exhausted. Then its value will be nil.

(2) External-Depreciation caused by some external reasons is called external depreciation.

The causes of external depreciation are:

(2.1) Obsolescence

Some assets, though in proper working order, may become obsolete. Russell Wilson Jerseys For example old machine becomes obsolete with the invention of more economical and sophisticated machine, whose productive capacity is generally higher and cost of production is lesser. Buty Adidas Dziecięce In order to survive in the competitive market the manufacturer must install new machine replacing the old one.

(2.2) Passage of time

Some assets diminish in value on account of sheer passage of time, even though they are not used e.g. lease hold property, patent rights, copy rights etc.

(2.3) Accidents

Assets may be destroyed by abnormal reasons such as fire, earth quake, flood etc. Asics Gel lyte 3 Heren In such a case the destroyed asset may be written-off as loss and a new one purchased.

Need for Provision of Depreciation

The need for provision for depreciation arises for the following reasons:

(1) Ascertainment of true profit or loss-Depreciation is a loss. So unless it is considered like all other expenses and losses, true profit/loss cannot be ascertained. In other words, depreciation must be considered in order to find out true profit/loss of a business.

(2) Ascertainment of true cost of production-Goods are produced with the help of plant and machinery which incurs depreciation in the process of production. New Balance 373 męskie This depreciation must be considered as a part of the cost of production of goods. Bulldog Football Jerseys Otherwise, the cost of production would be shown less than the true cost. Sale price is normally fixed on the basis of cost of production. So, if the cost of production is shown less by ignoring depreciation, the sale price will also be fixed at a low level resulting in loss to the business;

(3) True Valuation of Assets-Value of assets gradually decreases on account of depreciation. If depreciation is not taken into account, the value of asset will be shown in the books at a figure higher than its true value and hence the true financial position of the business will not be disclosed through Balance Sheet.

(4) Replacement of Assets-After some time an asset will be completely exhausted on account of use. A new asset then be purchased requiring large sum of money. Pat Sullivan – Auburn Tigers Jerseys If the whole amount of profit is withdrawn from business each year without considering the loss on account of depreciation, necessary sum may not be available for. buying the new assets. In such a case the required money is to be collected by introducing fresh capital or by obtaining loan by selling some other assets. This is contrary &0sound commercial policy.

(5) Keeping Capital’ Intact-Capital invested in buying an asset, gradually diminishes on account of depreciation. If loss on account of depreciation is not considered in determining profit/ loss at the year end, profit will be shown more. If the excess profit is withdrawn, the working capital will gradually reduce, the business will become weak and its profit earning capacity will also fall.

(6) Legal Restriction-According to Sec. 205 of the Companies Act, 1956 dividend cannot be declared without charging depreciation on fixed assets. Thus in “Case of joint stock companies charging of depreciation is compulsory.

The author is an engineering graduate, B.E.(Hons), and is managing his own software development firm, HiTech Computer Services, that mainly deals in accounting, billing and inventory control software for traders, industries, business houses, hotels, hospitals, medical stores, newspapers, magazines, petrol pumps, automobile dealers, commodity brokers and other business segments, website and web application deveopment for business. New Balance 1300 hombre The software are available both for intranet and internet.

Plagiarism signifies the respond of copying

Plagiarism signifies the respond of copying

Plagiarism signifies the respond of copying, having or by using a different person options, keywords or making with problem of acknowledging the details root correctly. nike running goedkoop Academic plagiarism is one of preferred problem in most finding out firms right away mainly because it negatively strikes the training operations.