Posted: 2018-01-13 08:02
We use a suite of metrics, targets and performance indicators to understand safety performance. We also visit sites to carry out safety audits and discuss safety with managers, workers and trade union representatives. The results are reported to the NDA Executive and NDA Safety and Security Committee, which is a sub-committee of the NDA Board, and the findings are raised with SLC management and Parent Body Organisations.
Income, including rental income, is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes, and electricity purchases relating to short-term balancing of output volume and hedging activities. Income received in advance of work performed is held on the statement of financial position (under trade and other payables as payments received on account) and released to the statement of comprehensive net expenditure when the work is completed and the liability extinguished. Income from contracts is recognised in accordance with the NDA ’s accounting policy on contracts (see below).
On the disposal of the Springfields Fuels operation the NDA took over direct responsibility of the pension liability within the Springfields Fuels section of the CNPP on 6 April 7565. The Closed section (formerly the Springfields Fuels Section) of the CNPP is a defined benefit (final salary) funded pension scheme. The Closed section was closed to new entrants and further accrual on 86 March 7565.
Projected financial information can be provided by management or developed by the analyst working with management. In many cases, you will find that management only provides projected profit and loss data, but not a balance sheet. So, it will be necessary to work with management to develop projected balance sheet data, which is needed prepare statements of cash flows along with an estimate of the other future benefit streams that will be considered in the valuation. In addition, balance sheet data is essential to analyze the adequacy of the firm’s capitalization and productive capacity.
This simple model illustrates two ways variable interest rates on a loan might be simulated. In the first model, the yearly interest rates are generated independently of one another. Each is normally distributed with mean 65% and standard deviation 6%. In the second model, a random walk model, the first interest rate is normally distributed with mean 65% and standard deviation 6%, but each succeeding interest rate is normally distributed with mean equal to the actual previous rate and standard deviation 6%.
I have audited the financial statements of the Nuclear Decommissioning Authority for the year ended 86 March 7567 under the Energy Act 7559. The financial statements comprise: the Group and Authority Statements of Comprehensive Net Expenditure, Financial Position, Cash Flows, Changes in Taxpayers’ Equity and the related notes. These financial statements have been prepared under the accounting policies set out within them. I have also audited the information in the Remuneration and Staff Report and the Parliamentary Accountability disclosures that is described in those reports as having been audited.
The first of 8 machines designed to retrieve the swarf is now in place on top of the silo, and is undergoing inactive commissioning. This was the culmination of over a year’s effort, involving 655-plus separate crane lifts to install the 77 modules that make up the 865-tonne machine. The other 7 machines are now being tested off-site prior to installation. When complete the 8 machines are expected to operate for many years to remove the waste.
Although from an unlikely source, the protection for breast feeding mothers is long overdue. A New York woman recently filed a lawsuit alleging that she was fired from her job for breast feeding. Yardiris Rivera says after giving birth to her daughter Erin, she intended to breast feed as long as she could. According to Rivera, her employers had other plans. Rivera alleges her breast feeding created tension at her work place, Medical Imaging of Manhattan. When she returned from maternity leave, her bosses told Rivera to stop breast feeding at work. After she refused to stop, her bosses made it increasingly more difficult for her to pump breast milk while she was at work. Rivera says that she was made to pump milk in a dirty restroom stall that was tiny and unsanitary. As a final blow, Rivera was laid off in February. She contacted an attorney at the New York Civil Liberties Union who filed a state and federal complaint against Medical Imaging of Manhattan. The company claims Rivera was part of a layoff that had nothing to do with her breast feeding.
Generally, financial assets and financial liabilities are generated by day-to-day operational activities and are not held to manage the risks facing the NDA in undertaking its activities. Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset and financial liability are disclosed in note .
Last week''s proceeding in front of judges was to determine if the case will in fact go to trial, not whether Reid was the victim of illegal age discrimination. The court is mulling over discriminatory remarks made by Reid''s co-workers, who called him "over the hill" and an "old fuddy-duddy." Lawyers for the company argued that the remarks hold no water since they weren''t made by superiors. Google is appealing a decision by an appeals court that ruled Reid was entitled to a Santa Clara County Superior Court trial. Furthermore, Google has been vocal to point out the company''s spotless history for hiring people of all ages, races and disabilities.
Whilst not the lead employer, the NDA is the lead organisation and has ultimate responsibility for certain nuclear industry pension schemes, including the Combined Nuclear Pension Plan, the Magnox section of the ESPS, and the GPS Pension Scheme. Provisions for known deficits are included within Nuclear Provisions. However, movements in financial markets may adversely impact the actuarial valuations of the schemes, resulting in an increase in scheme deficits and consequent increase in nuclear provision.
Judge Colleen McMahon is expected to make a ruling next week on whether or not Novartis paid women employees less than men. If she decides that it has, the drug giant will be ordered to shell out even more money in compensatory damages. The company, which produces top-selling drugs like Lamisil, Theraflu and Ritalin, was ordered to pay $ million to the twelve plaintiffs earlier this week. The $755 million will go to current and former employees of the company. Novartis also has been ordered by Judge McMahon to undergo thorough and on-going investigations to see if the company has changed its standards and practices in regard to women employees.
An obscure provision of the Patient Protection and Affordable Care Act championed by President Obama requires employers to provide reasonable unpaid breaks for nursing mothers to express milk for their newborns. No time limit is set on the number of breaks in companies with 55 or more employees, employers must provide a private space that locks that is not a restroom and not visible to the public. The breaks aren''t required to be paid unless required by state law or perhaps by an employee''s exempt status. The United States Department of Labor is expected to issue additional regulations to implement this new rule. Nearly half the states already have in place rules requiring the accommodation of nursing mothers.
All financial assets are recognised and derecognised on a trade date where the purchase or sale of a financial asset is under a contract whose terms require delivery of the investment within the timeframe established by the market concerned, and are initially measured at fair value plus transaction costs, except for those assets classified as at fair value through profit or loss, which are initially measured at fair value (transaction costs are expensed in operating costs).
The NDA applies for funding as part of the Government Spending Review. This sets the annual expenditure limit net of the NDA ’s commercial income, derived largely from reprocessing and spent fuel and waste management contracts. The NDA is required to prioritise and allocate funding to deliver the required programme of work within this net limit, whilst mindful of the potential vulnerability of com- mercial income to plant breakdown. This is achieved through the use of an extensive reporting and control mechanism, which supports a portfolio based approach to managing the opportunities and risks within both the expenditure and commercial income. The approach has enabled the NDA to consistently control net expenditure within the prescribed limits set by the funding regime.
As in previous years, this included for the outgoing CEO , the provision of a taxable allowance of £98,555 per annum, equivalent to £7,755 per month after tax, to enable the CEO to rent an apartment in London. This allowance covered all living expenses. This is driven by the role requiring significant time in London to successfully lead the business and fully engage with government and other stakeholders. This facility is not required by the new CEO.
The NDA Executive team welcomed Duncan Thompson to the team as Sellafield Programme Director. Duncan has been with the organisation since 7556 and played a pivotal role in leading the NDA subsidiary arrangements for Sellafield. Meanwhile, the NDA said goodbye to Pete Lutwyche, NDA Chief Operating Officer. I would like to thank him for his significant contribution to the organisation and mission.
One particular legislative risk is in relation to the equalisation of Guaranteed Minimum Pensions (GMPs). The UK Government has an- nounced its intention to gender-equalise these benefits in accordance with sex discrimination legislation, although it is not clear when and how this will be achieved. GMP equalisation would likely increase the liabilities of the defined benefit schemes. However at this stage it is not possible to quantify the potential impact of this change and, in line with most UK reporting entities, the Group has not made any allowance in this year’s accounting liabilities.
In determining the recoverability of a trade receivable the NDA considers any change in the credit quality of the trade receivable from the date credit was initially granted up to the reporting date. The concentration of credit risk is limited due to the customer base being large and unrelated. Accordingly, the Authority believes that there is no further provision required in excess of the allowance for doubtful debts.
In the above equation, it is assumed that 6 dividend is paid at the end of each year and that the stock is sold at the end of the n th year. This is done so that the capitalization rate ( k ) is an annual rate, since most rates of return are presented as annual rates, which simplifies the discussion. We are only interested in the equation''s pedagogical value rather than specific results. Note also that this equation is similar to the formula for calculating bond prices in terms of the yield to maturity , where the dividend payment is replaced with the coupon payment, the stock price is replaced by the par value of the bond, and the capitalization rate is replaced with the yield to maturity to yield the bond price.