Higher Order Thinking Free Essay Example, 1000 words

Running Head Higher Order Thinking Higher Order Thinking High order thinking is a core of modern education. The main contribution to this theory was made by Benjamin Bloom in 1956. Bloom’s taxonomy can be explained as a classification system of different learning processes. The three lowest levels of taxonomy are knowledge, understanding and application. Three highest levels are analysis, synthesis and evaluation. Analysis has to do with figuring out something on your own, i.e. , an individual cannot be just repeating what he reads or hears. It is seeing how something works. An individual discerns what is connected to what. A student gets at why something is happening. During synthesis process, iIf analysis is taking things apart to see what makes them tick, synthesis is putting things together. Synthesis is solving a problem, making something whole out of a bunch of pieces nobody told you how to put together, or creating or devising something (Bloom, 1956). Evaluation is dec iding on your own, and in an informed way, whether something is preferable; whether it has merit or worth; or whether it is morally right, just, or fair. We will write a custom essay sample on Higher Order Thinking or any topic specifically for you Only $17.96 $11.86/pageorder now Personal Meaning is reflection on the personal significance, consequence, or implication of some object of concern. It is important to help students recognize that all concepts are in some way related to one another. This is one reason concept mapping can be a very powerful evaluation tool. The main limitation of Bloom’s taxonomy is that it is not a strategy but a model which explains main thinking skills. It does not help to solve problems and develop effective critical thinking skills. Bloom explains some ideas and the concept of thinking but he does not explain how this model can be and should be applied to real world situations. His main works on taxonomy are Taxonomy of Educational Objectives: The Cognitive Dimension (1956). Another model of high order thinking was developed by Robert Marzano. Marzano adopted Bloom’s taxonomy but added new characteristics to the model. This model consists of 8 characteristics: focusing, information gathering, remembering, organizing, analyzing, generating, integrating, evaluating. The ideology of Marzano is based on the idea that: â€Å"When content is new, students must be guided in relating the new knowledge to what they already know, organizing and then using that new knowledge. Knowledge can be of two types: Declarative (i. e., attributes, rules) or procedural (skills and processes). Items of this type are factual and content-specific† (Marzano 1995, p.

The Wife Of Bath s Prologue And Tale - 2098 Words

After reading ‘The Wife of Bath’s Prologue and Tale’ I can see clear indications and agree that Chaucer was an anti-feminist’ by studying in depth both the prologue and tale I am going to show how Chaucer conforms to a patriarchal perspective in which he believes women are inferior to men making them the weak and unstable sex, who are neither socially, politically or economically equal to a man. In Chaucer’s `The Wife of Bath’s Prologue and Tale’, Chaucer opens the book with the strong opening sentence of ‘Experience, though no written auctoritee’, (Winny, 1999, p. 35, line 1–2) suggests that The Wife of Bath conformed to the societies needs and wants in that era, where women weren’t educated. However, Chaucer is an antifeminist and starts to build The Wife of Baths character as he progresses by representing her as a manipulative man eater who is out to get what she can from a husband, by using her body and her confidence to do so. By doing this Chaucer makes you re-think his text and almost deceives the reader into thinking very little of The Wife of Bath from the beginning. As we as readers know yes she may not have any written experience but she does have a lot of sexual experience. `God bad us for to wexe and multiplye; that gentil text kan I wel understonde. Eek well I woot, he seyde myn housbonde Sholde lete fader and moo der and take to me. But of no nombre mencion made he, of bigamye, or of octogamye; Why sholde men thanne speke of it vileynye?’ (Winny, 1999, p. 35,Show MoreRelatedThe Wife Of Bath s Prologue And Tale990 Words   |  4 PagesThe Wife of Bath s Prologue and Tale is about female empowerment it shows strong protagonists. I believe Geoffrey Chaucer used The Wife of Bath’s Tale to advocate for feminism. Chaucer used a strong female character to expose female stereotypes. It was an oppressive time for women in male-dominated society. During the Middle Ages, Chaucer wrote from a woman’s point of view something that was not normal at that time. He set his feminist ideals through the characters of the Wife of Bath and the oldRead MoreThe Wife Of Bath s Prologue And Tale1338 Words   |  6 PagesChaucer penned one of the great stories on the plight of being a woman as retold in The Canterbury Tales. â€Å"The Wife of Bath’s Prologue and Tale† points out t he fallacy of medieval churches view on women being the lesser gender. â€Å"The Wife of Bath’s Prologue and Tale† follows a woman, the Wife of Bath, who tries to defend the experiences she has had in her life against the judgements of men. The Wife revealed the prejudice against women at the time by saying, â€Å"it is an impossibility that any scholarRead MoreThe Wife Of Bath s Prologue And Tale2067 Words   |  9 Pagesâ€Å"The Wife of Bath’s Prologue† and â€Å"The Wife of Bath’s Tale† by Geoffrey Chaucer functions as a way to both satirize and represent female equality. In particular, The Wife of Bath challenges the stereotypes of what may appear to be â€Å"normal† treatment of women during this time period (TheBestNotes.com). She identifies the distinctions between â€Å"traditional† gender roles and relates them to passages from the bible, which are then taken out of context. These passages are meant to justify The W ife of Bath’sRead MoreThe Wife Of Bath s Tale Prologue And Story878 Words   |  4 Pagesit back later. In the Wife of Bath’s Tale Prologue and story, this idea called into question. During both of these stories, the idea of give and take is a major topic. Largely because the ones that are getting, are giving up essential control over their lives. In a world where divorce seems to be at an all time high, these tales attempt to shed light on what it would take to create a happy marriage or relationship. During the prologue of The Wife of Bath’s Tale, the wife discusses her thoughtsRead MoreThe Wife Of Bath s Prologue And Tale Essay1722 Words   |  7 Pagestheir male counterparts. However, The Wife of Bath’s Prologue and Tale, a poem written by Geoffrey Chaucer, redefine those ideals set upon women. The poem is broken up into two parts one is the prologue which includes a woman who talks about the rules set by the church and society on women. As well as how society looks upon women who live her life style. She counters these teaching by her knowledge of the bible by introducing biblical men who had more than one wife. It is later revealed that her soleRead MoreThe Wife Of Bath s Prologue And Tale1697 Words   |  7 PagesSawyer Guest English 470 04 April 2016 Empowering Women, or Degrading Them? Exploring Anti-Feminism in The Wife of Bath’s Prologue and Tale. So often, scholars tend to put a large focus on feminism seen throughout Geoffrey Chaucer’s â€Å"The Wife of Bath’s Prologue and Tale†, but they may not be seeing the larger picture of it all. There are definitely characteristics of the Wife that make her a strong female personality in the story, but is it fair for us to say that she embodies the characteristicsRead MoreChaucer s The Wife Of Bath s Prologue And Tale1358 Words   |  6 PagesThe Tactics Chaucer Uses in â€Å"The Wife of Bath’s Prologue and Tale: To Point Out the Faults in His Society After reading Chaucer’s work: â€Å"The Wife of Bath’s Tale†, and having been exposed to different interpretations of it, it is now to my knowledge that there have been many critical works that suggests opinions and thoughts about how to interpret both the tale and prologue. There have also been questions asked─one being, â€Å"so, did we actually figure out what women really want†, and the answer toRead MoreThe Wife Of Bath s Prologue1134 Words   |  5 PagesThe Wife of Bath uses bible verses in â€Å"The Wife of Bath’s Prologue.† Further, she employs the verses as an outline of her life to find reason in God to justify her actions. Nevertheless, the purpose of the verses differs within each stanza of the poem. The Wife of Bath is a sexually promiscuous, lustful, and manipulative woman. She marries men one after the other as they get older and die. In order to combat and overthrow the speculation and criticism being thrust upon her by societal norms becauseRead MoreAnalysis Of The Poem The Wife Of Bath Essay873 Words   |  4 PagesAnalytical Essay on the â€Å"Wife of Bath.† Question One Description of the Wife of Bath in terms of her progressive feminism, rhetoric style, and her prolog tale. Comparison of her as a women attitude towards general medieval attitude towards women. â€Å"Wife of Bath† Tale provides insight and understanding of the women change and their view mainly in matters of family, marriage, authority and marital affairs. The Prolog is double the size of her Tale, a lot of information about marriage group is givenRead MoreGeoffrey Chaucer View and Change on Judgement968 Words   |  4 Pagesthese people, but he actually did something about it. He had problems with some social aspects during the 1300s which included the church, gender differences, and hypocrisy. He wrote about these problems in a set of tales widely known as The Canterbury Tales. The first is The General Prologue which describes a pilgrimage to Canterbury that many people endure, but on this specific journey, twenty-nine different people travel together to Canterbury. He uses two types of satire to relinquish these opinions

Preconditions of Auditing of KGC Ltd Mine

Question: Write an essay onPreconditions of auditing of KGC Ltd mine. Answer: Preconditions of auditing of KGC Ltd mine operating in Papua New Guinea : Before conducting the audit , several points have to be accounted for . The account balances and all the financial statements of the company should adhere to the rules and regulations of the Australian auditing standard. The acceptability of the financial report of the company by the auditors requires it to be in the framework of the guidelines set as per the auditing standard. The auditor is required to carry out the inspection of the company in terms of any factors and he should have access to all the detailed information about the companys financial so as to enable him to form a correct opinion about the companys financial reporting. Confidentiality into the financial data should be enquired into and investigation should be made regarding the fraud and material misstatement or any human error reported in the data(Flammer 2013). Enquiry should also be made by the auditor so that the entity is not exposed to any social or ethical threats which may lead to questioning its integrity. Performing these tasks of enquiring and investigating would enable the auditor to take the appropriate measures and safeguard which would help in mitigating the risks associated with the entity and the task of auditing could be performed with ease. KGC Ltd has been accused of being environmentally irresponsible and so it poses ethical threat and the auditor should take appropriate measures to mitigate the risks to such a level which can be accepted. If the financial statements are not adhering to the guidelines of the auditing standard , then there arises the need for auditor to turn down the engagement of auditing tasks. The fact that the auditor should accept the role of auditing or not depend upon the risks associated with the entity. There are many types of risks involved and their assessment and carrying out auditing process is a bit complex process. Auditor needs to follow some procedures to determine the risks which could lead to material misstatement of the financial statements and they should seek for the evaluation and control method to detect the error in the annual financial statements. . The inherent risk, control risk and the detection risks are mentioned to be associated in conducting audit of the entity and they together they form audit risk(Gashi and Shala 2015). The inherent risks stands at 80 % which is inherent to the peculiarity of the firm. Regarding its activities , the environment in which it operates and the nature of accounts, financial and organizational structure . The auditor needs to assess the inherent risks by enquiring about the entity about its management and the accounting procedures it follows while maintain the account of balances and investigating about the characteristics of the company that is unique to its function such as management of risks relating to its attitude , future prospects of the organizations. Control risk is the risk of not detecting the error with the help of internal control system . There would be a probability of transformation of potential risk into possible risk, if the internal control system suffers from any weakness. Control risk is associated with the designs and the nature of operation of the entity. The control risks stands at 10 % which is not too high. Detection risks is the incapability of the auditors to identify the errors contained in the account of balances and the financial statements , though it is not possible to eliminate the risk completely or to ensure that the financial statements are free from error, the auditors are required to reduce it by following the proper auditing procedures and techniques. The detection risk stands at 50% which indicate that there is 50-50 chance of auditors not able to detect the errors existing in the financial statements. The risks involved in auditing should be limited to a acceptable level. Audit risk stands at 4 % which is acceptable and it follows from the product of inherent risk, control risk and detection risk and the analysis of audit risk depend upon these three risks. Here , the assessed level of risks are to be used by the auditor to reduce the audit risk to such a low level which is acceptable by determining the techniques and procedures and the nature and timing . so the audit firm will accept the auditing of The KGC Ltd and the assessed level of risks could be modified by the auditor in the course of conducting the audit on the basis of information which he comes across and he can apply the techniques accordingly. The action plan of auditors regarding the accomplishment of the work and the procedures followed by them forms audit program. While carrying out the audit program , auditors needs to consider and include several things which are The name , address and objective of the entity should be included and it include the date and duration of the audit program to be conducted, that is the time until which the audit will be performed. KGC Ltd is situated in star mountain range in PNG for 30 years. The nature and size of business is another factor to be considered. The net worth of business and the size whether the operating entity is small medium or large enterprise should be considered. KGC Ltd employ 3400 employees and has a net book value of 16.5 $ billion. The procedure and accounting systems followed are to be accounted for in carrying out audit program. The effectiveness of internal control system should be evaluated . Points which are generally accepted also form the content of audit program The future prospects of the entity and its growth and development are to be accounted for. The entitys license to carry out mining activities from PNG government would expired within eight years which puts a doubt in its continuation. The quality and quantity of the deposits of lead ore found are not commercially viable and so the planning process could not be set and the evidence becomes doubtful. The verification of accounts of balances should be done and the royalties and tax payment by the entity should be enquired into. The program include the investigation of the relevant documents(Harrison et al .2015). The audit task are to be completed by dividing the work among the staffs considering their talent skills and intelligence in completing the audit tasks. While revaluing the Property Plant and equipments from historical value or book value to the fair market value should comes with a genuine reason and should be fair. The auditors are required to do the verification of the assets and to ensure that the method of revaluating the assets is reasonable enough. There are points which he need to considered : He is liable to scrutinize all the assets accounts to find out the true cause of revaluation. Depreciation , profits and loss accounts have been properly adjusted or not have to be enquired into. The physical verification of the asset should also be done which is mainly a task of management and the auditor needs to satisfy himself about the competence of the person carrying out the verification. The appraisal or the revaluation of the asset are done by the qualified person , experts and engineers. The revaluation of the assets should be accepted by the auditor, if upon examining he came with a conclusion that the appraisal is reasonable enough and it is based on some adequate facts. The auditor needs to analyze the fact that assets are revalued only because it does not hold any economic benefit and it has not been materially altered for the organizations sake. The opening balance , ledger of all existing PPE should be verified . He should investigate whether the depreciation of the a ssets have been recorded in the proper account before writing off. Auditors should be well versed with the information he is gathering about the asset and on the basis of which he would be forming the opinion about the acceptability of the revaluation whether it has been done fairly or not(Nicolaescu 2013). KGC Ltd is in operation for 30 years and is located in isolated place in Papua new Guinea and employs about 3400 employees. The Net worth of its property , plants and equipments is $ 16.5 billion. Though the company is the only manufacturer and operator of the water processing plants, health centers , hospital and schools , the ongoing court case which has been initiated by some ecological group make its existence doubtful .The company has been accused of being environmentally irresponsible as an allegations of dumping of the ore and lead waste into the river of local villages has been put. The future prospects of the company does not seems to be very positive as the license from the PNG government to carry out its mining activities would also expire in eight years. The information provided by the company about the quality and quantity of ore lead extracted being not commercially viable is also one of the factors . Though the managers estimate of extraction of deposits is quite large over the next eight years when the license is about to expired. These are few facts about the entity which would lead to doubtful future. On the other hand, shut down of the mine firm would be devastating as the employment rate in the labor market would rise to 95% in the absence of any alternative source of employment. Also the estimated annual income of the company is expected to offset the harm and damage caused because of dumping. So, the closure of the mine would make the situation worse than expected. Being environmentally friendly requires the organization to carry out its activities adhering the guidelines set by the environment accounting standards. The dumping of 5 million liter of ore waste into the local village river which is used by b the villagers for harvesting and drinking purpose by KGC Ltd does not expect it to make a statement of being socially responsible. The claim of being environmental friendly would be ruled out as the act of disposing the wastes into river posed it to ethical threats and the stakeholders review the company on the basis of the entities social and moral traits which they would be using as yardstick in measuring the corporate whether it is socially responsible or not. The statement made by the company would not be signed off as true and fair from the point of view of outsiders and stakeholders.The prospectus of the company contain information about the companys objectives, investment strategy , the expenses incurred ,risk associated with any opera tion ,tax payable , brokerage fees , pricing of the product and many more. Issuing of shares by KGC Ltd to raise additional money of $ 5billion on the assurance and claim that the operation would be carried out indefinitely and is at low risks could not be treated as being fair by the investors. The future performance of the company and its growth and development is at halt because of the ongoing court case and due to the expiry of license form the government to carry out its mining activities. Investors willing to invest would be interested in the future prospects of the company which is not so bright. The net worth of the assets of the company is also not worthy of investing. So the investor would not sign off the prospectus as fair and true. Those willing to take risks of investing would need the reports of auditing in order to form some opinion about the companys performance . On the basis of information provided by the organization the investors cloud not treat the prospectus a s being true. The willing investors need to go through the every audited financial statements and reports to investigate and verify them and then forming an opinion of treating the prospectus as fair and investing accordingly. The claim of the entity, of its operation being infinite would not be treated as fair because the license of carrying out the mining activities from the government would expire in eight years. Reference : Flammer, C., 2013. Corporate social responsibility and shareholder reaction: The environmental awareness of investors.Academy of Management Journal,56(3), pp.758-781. Gashi, M. and Shala, N., 2015. Preconditions that Affect in Increasing Control Effect and Increased Chance for Tax Fraud Detection.European Journal of Sustainable Development,5(1), pp.83-90. Harrison, R.A., Gemmell, I. and Reed, K., 2015. The Effect of Using Different Competence Frameworks to Audit the Content of a Masters Program in Public Health.Frontiers in public health,3. Harrison, R.A., Gemmell, I. and Reed, K., 2015. The Effect of Using Different Competence Frameworks to Audit the Content of a Masters Program in Public Health.Frontiers in public health,3. Nicolaescu, E., 2013. Understanding Risk Factors for Weaknesses in Internal Controls over Financial Reporting.Psychosociological Issues in Human Resource Management,1(3), pp.38-44.

Corporate Financial Management CFO Responsibility

Question: Discuss about the Corporate Financial Management for CFO Responsibility. Answer: Introduction The proper monitoring and governing of the financial resources is highly critical for organisations to optimise the profitability and thus ensuring the long-term growth and development. In this context, the role and responsibility of Chief Financial Officer (CFO) becomes very important for maximising financial efficiency and achieving financial stability. CFO position in an organisation is accountable for managing administrative, financial and risk management operations (CTI Reviews, 2016). In this report, the role and responsibilities of CFO of GrainCorp, a public listed company in Australia involved in receiving and storing of grain and related commodities (GrainCorp, 2015). The next section of the report evaluates the efficiency of market-hypothesis theory in selection of portfolio with a pin by pension fund manager. Three general areas of responsibility for a chief financial officer (CFO) of GrainCorp Limited listed on ASX Alistair Bell is the Chief Financial Officer (CFO) of GrainCorp and holds the responsibility of managing international finance, treasury and investor relations. The company is mainly involved in manufacturing of food ingredients and agribusiness on an international level (GrainCorp, 2015). The three general areas of responsibilities of CFO of the company can be described as follows: Controller Duties Controllership duties of Chief Financial Officer (CFO) of the company involve providing accurate and timely historical information to all the stakeholders of the company. The information presented to the stakeholders including shareholders, analysts, creditors and employees must be true and reliable for decision-making (Eeden, 2014). The CFO of the company also monitors and controls the capital structuring by taking decisions regarding the raising of funds for carrying out its regular operational activities. The CFO determines the best proportion of equity and debt in the capital structure by taking into consideration the risk and liquidity position of the company. CFO also holds the responsibility of controlling the cash flow position by maintaining an appropriate balance of cash payments and cash receivables (Sutcliff, and Donnellan, 2006). The cash flow statements of the company is also prepared under the leadership of CFO who determines the accounting policies and procedures to b e followed at the time of preparation of all the financial statements including balance sheet, cash flow and income statement. In addition to this, CFO is also accountable for developing and implementing tax management strategies for reducing the operational cost of the company (Fabozzi et al., 2008). CFO also establishes the lines of communication with the investment bankers, financial analysts. Shareholders and all the senior management people for conveying all the relevant financial information to them that supports them in taking decisions. CFO incorporates the use of tools such as balanced scorecard, dashboards and financial statements ration analysis for communicating the companys financial performance to the stakeholders. The budgets of the company are also prepared under the supervision of CFO who develops and implements all the budgeting policies and procedures. Budget preparation enables the CFO to identify the major areas of improvement required in the financial performan ce by comparing the results obtained with the estimated outcomes (Bragg, 2010). The companys financial performance indicates that its processing business contributes to a major part if its earnings while its grain business is still facing some challenges in achieving profitability. Thus, CFO of the company is recommended to implement new strategies for controlling and monitoring the grain business for enhancing the revenue generation from this segment (GrainCorp, 2015). Strategic Planning GrainCorp is presently emphasising on developing and adopting many strategic initiatives for enhancing its organic growth. As such, the company in storage and logistics is planning to reduce the operational cost by rationalising the network. In this context, the company is planning to invest about $60 million of capital for developing operational sites that aims to revitalise the network and improve customer services. This strategic planning by the senior management needs support and supervision of CFO who holds all the important information regarding the availability of financial sources to support the project implementation. Moreover, the company senior managers also taking key initiatives to market the companys products on new areas of Western Australia, South Australia, North America and Europe. This is being planned in order to target new customers and increase the companys sales in the future context (GrainCorp, 2015). However, this strategic initiative of the company is also b eing guided and controlled by the CFO by providing the funds required for marketing the companys products in new business areas. The sustainable performance of the company around the years is possible with the effective capital management achieved by the CFO of the company. The company is investing significantly in developing and implementing new projects for supporting its future growth expansion plans that are supported by a well disciplined approach adopted by the CFO in capital management. Thus, it can be stated that all the strategic decision-making process of the company are supported and guided under the leadership skills of the Chief Financial Officer (CFO) of the company (Lapovsky and McKeown-Moak, 2010). Risk management GrainCorp is involved in food ingredients and agribusiness and as such involves huge business risk in its operational functions that are dependent on the availability of raw materials from the natural resources. As such, the nature of business of the company itself involves huge financial risk that need to be controlled effectively by the CFO of the company. The successful completion of new projects is dependent on the availability of ingredients that can be maintained in continuation with the deployment of new technologies. The new technologies implemented will enable to source high quality raw materials to boast the productivity and profitability of the company. However, with increasing use of innovative technologies the financial risks also increases as it can lead to the occurrence of financial constraints in the company. This financial risk need to be controlled and mitigated by the Chief Financial Officer (CFO) by providing support and advice from the Chief Executive officer (C EO) (GrainCorp, 2015). The successful completion of new projects planned by the company such as widening the market segment and significant changes in storage and logistic unit requires investment in huge financial resources. The failure of these new projects can cause heavy losses for the company that need to be mitigated in advance by taking proactive steps. Thus, CFO in assistance with CEO must develop and implement proper risk management strategy in the company that identifies in advance all the financial risks associated with its business operations. This is necessary for avoiding the occurrence of any type of contingency in the business and thus ensure smooth running of companys operational functions (Fuhr and McDonagh, 2012). Impact of CFO responsibility on objective of GrainCorp Limited The ultimate objective of the company is to become an international leader in food ingredients and agribusiness by creating value for all its stakeholders (GrainCorp, 2015). The supervision position of Chief Financial Officer (CFO) is highly important for the company in attaining these ultimate objectives (Nolop, 2012). The roles and responsibility of CFO discussed above involving controller duties, strategic planning and risk management will facilitate the company to achieve its ultimate objective of becoming an international leader in its business area. The controller duties such as maintaining cash flow, budgets, record-keeping ad financial planning is essential for aligning its operational activities with the financial resources. This will ensure that all the day-to-day operational activities are carried out smoothly without any financial constraints. The strategic planning is also carried out under the assistance of CFO to ensure the proper availability of funds for supporting t he new strategies planned to be implemented. The development of risk management strategy is also essential for the CFO so that the company is able to achieve its ultimate objectives without the occurrence of any emergency conditions (Sutcliff and Donnellan, 2006). If the efficient-market hypothesis is true, the pension fund manager might as well select a portfolio with a pin. Explain why this is not the case Efficient market hypothesis (EMH) theory that it is relatively impossible to beat the market consistently as market prices are only affected by the new information and changes in discount rates. The EMH theory in financial economic context states that share prices fully reflect all the available information that directly implies that stocks are always traded at their fair value making it relatively impossible for investors to either purchase undervalued stocks or sell stocks at inflated prices. However, if this is true then pension fund manager can easily select a portfolio with a pin that is generally achieved in real practice. The pension fund manager role is very important in creating and managing a portfolio for the clients. Portfolio is created by pension fund manager by proving advice to the investors for investing in various types of financial securities such as stocks or bonds. It is the responsibility of pension fund manager to evaluate a particular financial security proper ly before its selection in the portfolio so that it is able to provide maximum return to the clients. If the efficient-market hypothesis is true, then there would be no way for the investors to obtain superior rates of return by beating the market risk. However, market risk can be minimised by the pension fund manager by properly diversifying the portfolio (Williams, 2011). Diversification of the portfolio can be achieved by the pension fund manager by selection of particular stock or bond that have lower rate of co-relation between them. This means if one financial security is giving lower rate of return than it could be balanced by the return obtained from other financials security that is performing well. The pension fund manager has certain targets and goals to be achieved by providing higher rate of return on the portfolio created for the clients (Micocci et al., 2010). Throwing darts at the stick page might create a diversified portfolio but there is no method of controlling t he expected return and risk of the portfolio. The reduction in the systematic risk is only possible with the selection of stocks and bonds that have lower beta. Lower beta, lower is the co-relation between the financial securities in a portfolio so that underperformance of one security does not have affect on the performance of the other. The efficient-market hypothesis also assumes that the investors realise all the information available of a financials security in a similar manner. This is also not generally true as investors incorporate the use of different methods for analysing and valuing the financial securities. For example, if one investor has analysed a financial security on the basis of growth potential and other on the basis of undervalued market opportunities, then the fair market value of that particular security will differ for the two investors. Thus, in context of the overall discussion the statement If the efficient-market hypothesis is true, the pension fund manage r might as well select a portfolio with a pin is regarded as false. This implies that pension fund manager need to create portfolio by proper evaluation of each financial security so that the portfolio is well-diversified and ensure yielding maximum return. Pension fund manager should advice to the clients for safe investments that is lection of stocks or bonds that have lower beta (Williams, 2011). Conclusion Thus, it can be stated from the overall discussion held in the report that CFO role is very important in an organisation for achieving its strategic aims and objectives. The financial performance of GrainCorp reveals that CFO carried out his roles and responsibility appropriately that is resulting in increased profitability for the company. The CFO, in future context, is recommended to develop new strategies for enhancing the companys revenue generation in grain business in assistance with the CEO. The next part of the report inferred that pension fund manager can beat the market risks through diversification of the portfolio in contrasts to the findings of efficient-market hypothesis. References Bragg, S.M. 2010. The New CFO Financial Leadership Manual.John Wiley Sons. CTI Reviews. 2016. Essentials of Corporate Finance: Business, Finance. Cram101 Textbook Reviews. Eeden, D.V. 2014. The Role of the Chief Human Resources Officer: Perspectives, Challenges, Realities and Experiences. Knowres Publishing. Fabozzi, F. J. et al. 2008. The Complete CFO Handbook: From Accounting to Accountability. John Wiley Sons. Fuhr, E.A. and McDonagh, C.W. 2012.The Risk Manager.FTI Journal. GrainCorp. 2015. Annual Report. Lapovsky, L. and McKeown-Moak, M.P. 2010. Roles and Responsibilities of the Chief Financial Officer: New Directions for Higher Education, Number 107. John Wiley Sons. Micocci, M. et al. 2010.Pension Fund Risk Management: Financial and Actuarial Modeling. CRC Press. Nolop, B. 2012.The Essential CFO: A Corporate Finance Playbook. John Wiley Sons. Sutcliff, M. R. and Donnellan, M. 2006. CFO Insights: Delivering High Performance. John Wiley Sons. Williams, R. T. 2011. An Introduction to Trading in the Financial Markets: Trading, Markets, Instruments, and Processes. Academic Press.