Project Executive Summary Example

Project executive summary example is a piece of writing designed to summarize the main points of a certain research project. The main goal of such summary is to provide a simpler explanation of the highly sophisticated texts usually used in projects. Primarily project executive summary example is utilized by managers who aim to understand the policy of the research and make the necessary amendments. Moreover, executive summaries are used to make information clear and accessible for the wide audience regardless the readers’ level of education. Finally, this one-page document describes the problem considered in the project as well as the main approaches to its solution. Drive Ace Project Executive Summary The Project Objectives The Drive Ace project started in January 2014 in Florida, USA. Its main goal is to research the main difficulties faced by driving instructors and develop a coaching course plan that will meet the needs of the customers who learn to drive. Background The impetus for the Drive Ace emergence was a row of complaints from the learner drivers as well as driving instructors to the local authorities. Customers and coaches complained about outdated methods of learning and too much focus on the driving test results. The Drive Ace is not the first-in-its-kind project, the similar one called HERMES was realized in 2007. Correspondingly, it was decided to use the experience of HERMES and design a project in the frameworks of which instructors will receive an opportunity not only to coach the learners in the classroom but also to utilize on-road as well as track training. Process The Drive Ace project is based on the leading EU projects in the driver coaching area. It aims to accomplish such important tasks in the driving industry as: less dependence on the short-term coaching methods; avoiding methods oriented on passing the driving test only; focus on the active-learning driving strategies; preparing drivers to safe solo driving; more orientation on the high levels of GDE matrix that includes such aspects as self-awareness, personality traits, emotions, and various driving-related aspects. All the above-mentioned goals were realized with the help of the following driving approaches: activating the learner driver, his/her attention, and awareness of driving process including the interaction between himself/herself and other participants of traffic; accepting the driver as the reliable person responsible for his/her behavior and actions in the traffic environment; providing the partnership with the driving instructor, in which a learner receives an opportunity of questioning and adequate feedback, the dose of encouragement, possibility of sharing expertise, and analyzing mistakes. This approach helps to develop the most suitable strategy that depends on the personality of the learner driver. Findings and Conclusions Participation in the various coaching seminars has changed the instructors attitudes and strategies toward the customers. Most of the coaches changed their teaching style in order to satisfy the needs of the learners in a full volume. It was revealed that such aspects as awareness, responsibility, and self-acceptance play a significant role in the developing reliable drivers who do not pose a threat to the traffic environment. All in all, the Drive Ace project proved the necessity of coaching, questioning, receiving feedback, and sharing experience in the driving field.

Chris Kyle The Characteristics Of An Epic Hero - 871 Words

Veterans are the most divine people in the world, but they are never truly recognized as epic heroes. When people hear the word epic hero they think of the ancient warriors of Greece, Rome, and Troy or a story about other fictional persons/ animals doing amazing things to help people. The veterans around us are the real epic heroes though. They often slip underneath the radar though because it can be hard to recognize someone who is truly humbled by their service. These epic heroes are the ones that willingly leave their families home and go overseas to fight the enemies. They put on their helmets and walk into a firefight without hesitation. These epic heroes do this in order to make sure that the good always prevails against the evil†¦show more content†¦2). At this point in time in the war, Chris Kyle showed that he is an outstanding warrior for having to fight for eight year straight and obtaining 160 kills plus the mile and a half shot. Chris Kyle’s next epic hero trait was traveling a vast setting. In the seventh paragraph, â€Å"Kyle was deployed to Kuwait and Iraq in 2003 7,262 miles from home† (Guzman pg. 27). Kyle traveled across the world in order to fight the enemy threatening America. Every time Chris was deployed he was sent to the Middle east in the most horrid places. After the intense fighting and clashing with the terrorist, rebels, and insurgents Chris would go all the way home to Texas. It was here at home that his last epic hero trait would be showed. Chris Kyle’s last epic hero characteristic is he was recognized as a national hero. There has not been a more recognized veteran than Chris Kyle: â€Å"Immediately people everywhere were recognizing him and many veterans saw him in retail stores or at the machine shops. They would thank him for his service or start an hour long conversation over how Chirs saved their lives and more† (Schmidle pg. 3). Then on the second page, â€Å"Chris Kyle was awarded one Silver Star Medal, four Bronze Star Medals with V devices, a Navy and Marine Corps Achievement Medal and numerous other unit and personal awards† (Schmidle pg. 32). Chris Kyle was decorated

Reflective Critique of a Significant Episodeâ€Myassignmenthelp.Com

Questions: 1.Did you choose the technical writing field out of curiosity? 2.What were those moments like that inspired you to choose this field? 3.Can you tell us regarding any of the bigger challenges that you faced as a technical writing professional? 4.How do you feel after achieving so many accolades from the Society of Technical Communication? Do you believe there is more to achieve? 5.Can you tell us something regarding the future of Technical writing field? Answers: Introducation One of the greatest important episodes of communication I witnessed was during my involvement in the course of technical writing. The duration of the course was three months and I can categorically say that those remained the best days of my life ever. This underlying episode made an enormous influence on my life and even currently I am electrified to re-count it even over and over without tiring (Diamond Thumm, 2015). Mr. Smith believed in real-world training and not merely theoretical knowledge. Therefore, he spoke largely around his individual experience in the technical writing involvement of eighteen years. Aside from the systematic experience sharing regarding the technical writing arena, my adored faculty Mr. Smith also spoke to us on both theoretical along with practical characteristics of life. Mr. Smith continuously gave a spiritual touch to all the lectures he delivered to us (Formisano van der Eijk, 2017). My lectures materialized during nightfall time from 6:00 P.M. to 8:00 P.M each alternate day beginning Monday to Friday. This was the certified timing, however, the allocutions typically continued till 9:30 P.M. and sometimes until 10:00 P.M. Additional time was consumed as a result of Mr. Smiths commitment towards making his students a collection of respectable writers along with his appetite for teaching. Mr. Smiths technical writing expertise were accurately honorable and echoed the mastermind of his innovative mind (Hannah Lisi, 2015). We were a consignment of seven scholars who remained new to the arena of technical writing. Though as a result of Mr. Smiths panache of conveying the discourse made us feel at home (Rus, 2016). We not once felt that we were making an effort to study a new substance (He et al., 2015). My acquaintance with the theme amplified with each lecture that converted to instants of factual motivation for all of us. Progressively, I was on my way to convert to a professional technical writer educated to generate documents on international industry standards. My fellow contemporaries and I were all chunk of the 9:30 P.M. to 6:30 P.M. work life tedium. We were a diverse collection of wedded and single persons who also varied in additional factors including education, age, and historical experience along with tutoring atmosphere (Mac et al., 2014). Conceivably, it was such a multiplicity in my assemblage that ended us as Mr. Smiths desired group. My diverse social as well as academic upbringings conveyed us nearer to Mr. Smith as scholars and perchance even as Mr. Smiths God Children. Each day was new-fangled and that which took us by an enjoyable amazement (Ng, 2017). For the earliest time in my life, I was undergoing the value of expenditure on excellence time with somebody as substantial and caring as Mr. Smith. For the primary time in my life, I witnessed the authority of unqualified love throughout the process of acquaintance transmission from an Instructor to Schoolboy (Sternberg, 2014). I am conversing regarding one of such days throughout the 3 months c of my school, which transformed my lifetime forever! It was a drizzling twilight of June 2011; I was progressing in my understanding regarding the phrase Technical Writing besides whatever it would insinuate to us as specialists. Altogether we had reached the location, some of us had emanate unswervingly from workstation and some of us who were working from homebased, came straight from their respective homesteads. We were supping on my quotidian dose of scorching cup of tea while getting prepared to show up the lecture. Each week, we remained assigned fresh tasks also named as Home Work and the finest endeavor was compensated with an exceptional gift (Wainscott Longo, 2016). It was an extended weekend and I had completed my principal obligation of the program The Non-fictional Book Writing Assignment.The assignment focused on writing a trifling book of 40 pages on any topic. Individually, we had selected a dissimilar topic, as trending as cybercrime and as multifaceted as indemnification. Mr. Smith was contemplating in the lecture theater, so we hang on freestanding for him to complete and at that juncture we arrived at the classroom once he entitled us. Each time he completed performing his yoga isometrics, Mr. Smith appeared much sunnier and novice. Steadily, afterwards so voluminous allocutions, he had converted to being a course of spur for us. We were underway looking to him as somebody with self-motivated character, unrivaled technical writing know-how besides unresolved energy echelons. All of us handed in our assignments one after another and paused for the response. Mr. Smith was contented regarding my book writing effort since he was self-assured that we might do superior. One of us re-counted the schedule for that diurnal; respectively one of us was going to tang the theme Interviewing the Subject Matter Expert We were holding the interview questionnaires that we had already organized at home. I had assumed the duty of cross-examining Mr. Smith himself regarding the focus of his knowledge as far as a technical writer. The schoolroom was full with vitality when everybody overheard regarding my interview theme. All and sundry distinguished it could not catch any supplementary thought-provoking than this; we stayed going to overhear from the Monarch of Technical Writing Arena Mr. Smith. The interview commenced at about 8:15 P.M. afterwards all the conversations got over one after alternative. My queries were prepared and the responses to them transformed my life henceforth. My queries and the responses given by Mr. Smith stood as follows: 1.No. Being portion of records industry was somewhat that arose to me as a Vision. Preceding starting my individual technical writing corporate, I operated as a mechanical engineer worker with fairly a few businesses. Fascinatingly and also unwittingly, I was studying technical writing subconsciously after my involvement as an engineer. When I assert this, I am inferring to the engineering drawings sketched by me besides my classmates as engineers throughout academic along with professional life. Such sketches used to be additionally artistic relative to technical (Giggles). Captivating the choice of converting to a technical writer, remained one of my principal encounters. Throughout that period, I had contemplated for $1,000,000 loan and the same time I was betrothed to the miss of my visions (grins). Certainly, I was going to marry that same year (Anthony, Wulff Boettger, 2016). My professional as well as personal life were going to transform. When I articulated my sights regarding commencing a commercial and abandoning the job world, the greatest nervous reply that I acknowledged emerged right from my own dad. But I had by now made my verdict and it was never going to vary. Further let me remark, that it was never merely a novel commencement but an apparition that emanated to me over the ages. Not at all, it was never a pronouncement taken in the binge of doing somewhat unbelievable. I suppose, Deity had previously made schemes to convert me to a technical writer. 2.Such instants were perhaps the harshest instants of my lifespan. Such instants were occupied with eagerness, motivation and apprehension. Conceivably, the degree of encouragement was advanced than the supplementary excitements that I felt. This was accurately, why things commenced dwindling in place (Collins, Onwuegbuzie Jiao, 2014). I never even acknowledged that I was supposed to employ a Chartered Accountant who could with the filing of my taxes. I mean, I distinguished this metaphorically rather than practically. 3.Absolutely Undisputable! One of my principal encounters was interrogating a SME from UAE who never knew English (Hoots). As a mechanical engineer, I was efficacious at undertaking a bigger proportion of conjecture work. It was additionally problematic than one contemplate (Giggles again). I was unrehearsed for this condition but nevertheless, I had faith in Divinity who had by this time equipped for this in more or less manner. Consequently, once I was underway querying interrogations to the SME, he essentially replied them in a manner that I fathomed them (Carr, 2013). During that dialogue, I understood that nethermost of whatsoever we converse is through my manifestation as well as gestures ninety- alongside solitary ten percent we converse via language. 4.I have a great impression and absolutely there is surely supplementary to fix. To be additionally exact, being an unvarying applicant in the STC tournaments and acknowledgement podiums, I am investing into pitches beyond technical writing also. I am undertaking this course on film making whereby I am studying the whole ball of wax from the definition of the length of the movie to casting. It is equally thought-provoking as well as satisfying in each way to begin somewhat new each day (Boettger, 2014). 5.Absolutely. Technical documentation sector will surely last for numerous years to come. This is for the reason that humanity is ground-breaking and continuously discovers more than a single method of undertaking a specific thing. Technology along with Mechanics will endure to flourish and alteration the face of this globe. Invention of software commodities along with applications will likewise upsurge the need for technical writers who are able to document such commodities (Blythe, Lauer Curran, 2014). To this end, having asserted this, Documentation only might not alter as a necessity, but rather the approach documentation is completed might alter. Typically, operators of a specific commodity in the army or in engineering sector, continuously protest regarding reading a dense manual for the operators. Henceforward, digital content alongside electronic learning sector is increasing considerably (Biagioli Galison, 2014). Nowadays, proprietors need their respective foremen to study via viewing simulation-based videos. Such has two benefits, primarily, it set aside time of the corporation, furthermore, it saves the expenditure of contracting a coach to train the respective foremen and finally, it is calmer to have them foremen study via a module for training in the video format as well as appear for the exam to be suitable as a employee. This is the present setting of technical writing sector or technical communication sector to be increasingly exact. The fact that technical writers will constantly be in need is never going to alter, but the method they work is certainly question to alter (Arn Maci et al., 2014). Conclusion There was a celestial dynamism that streamed via respective one of us as soon as Mr. Smith began conversation. It remained as if the Almighty of Writing is speaking to us regarding the forthcoming of technical writing arena, as well as the manner in which it has shaped up to this end along with how it will influence us in the upcoming periods. I cannot ever disremember that enthralling day; it stood as if enchanted had materialized. On every occasion, I encounter somewhat kind of test, I play this conversation in my mind and subsequently feel peacefully. References Anthony, L., Wulff, S., Boettger, R. K. (2016, October). Workshop: Integrating data-driven learning into the technical writing classroom. In Professional Communication Conference (IPCC), 2016 IEEE International (pp. 1-2). IEEE. Arn Maci, E., Isohella, S., Maylath, B., Schell, T., Verzella, M., Minacori, P., ... Vandepitte, S. (2014). Enhancing students' skills in technical writing and LSP translation through tele-collaboration projects: teaching students in seven nations to manage complexity in multilateral international collaboration. In 19th European Symposium on Languages for Special Purposes (pp. 249-259). University of Vienna. Biagioli, M., Galison, P. (2014). Scientific authorship: Credit and intellectual property in science. Routledge. Blythe, S., Lauer, C., Curran, P. G. (2014). Professional and technical communication in a web 2.0 world. Technical Communication Quarterly, 23(4), 265-287. Boettger, R. K. (2014). Explicitly Teaching Five Technical Genres to English First-Language Adults in a Multi-Major Technical Writing Course. Journal of Writing Research, 6(1). Carr, J. M. (2013). Using a Collaborative Critiquing Technique To Develop Chemistry Students Technical Writing Skills. Journal of Chemical Education, 90(6), 751-754. Collins, K. M., Onwuegbuzie, A. J., Jiao, Q. G. (2014). Reading ability as a predictor of African American graduate students technical writing proficiency in the context of statistics courses. The Journal of Negro Education, 83(2), 135-146. Diamond, K., Thumm, G. (2015). Rebooting a Technical Writing Course: Control Instructional Design, Alt Information Literacy, and Delete Non-Collaboration. Formisano, M., van der Eijk, P. (Eds.). (2017). Knowledge, Text and Practice in Ancient Technical Writing. Cambridge University Press. Hannah, R., Lisi, M. (2015). Technical Writing for Introductory Science CoursesProficiency Building for Majors and Non-majors. The FASEB Journal, 29(1 Supplement), 687-25. He, W., Maly, K., Wu, H., Xu, L. (2015). Nursing a scaffolding-based blogging approach to improve IT and CS undergraduate students disciplinary writing skills. Mac, E. A., Isohella, S., Maylath, B., Schell, T., Verzella, M., Minacori, P., ... Vandepitte, S. (2014). Enhancing students' skills in technical writing and LSP translation through tele-collaboration projects. Languages for Special Purposes in a Multilingual, Transcultural World. Ng, P. C. L. (2017). Promoting Problem-based Learning through Collaborative Writing. The English Teacher, 12. Rus, D. (2016). A Didactic Approach to Writing Skills in a Technical Learning Environment. Procedia Technology, 22, 1191-1196. Sternberg, R. W. (2014). The technical writing internship experience. Southeastern Louisiana University. Wainscott, S., Longo, J. A. (2016). Leading a Horse to Water: Writing Workshops for Engineering Graduate Students.

The Law of Insolvency in Australia Samples †MyAssignmenthelp.com

Question: Discuss about the Law of Insolvency in Australia. Answer: A solvent person has been defined under the provisions of the Corporations Act 2001 as a person who is capable of paying all the debts on due date. Therefore, a person who is unable to pay his debts on due date is said to be insolvent. In Australia, insolvency is used in context of companies while the bankruptcy is used for individuals. Thelaw of insolvency in Australia regulates the status of companies which are on the verge of insolvency and are incapable of paying their debts or are under monetary suffering. A company is said to have become insolvent when it has become incapable of paying its debts when its payment becomes due (Australian Securities Investments Commission, 2014). The insolvency of companies is regulated by the Corporations Act 2001 (Cth). The chief objective of thelaw of insolvency is to maintain equilibrium between the interests of borrowers, creditors and public during insolvency. The law of insolvency of Australia does not considers long-term visions of an insolvent company nor does it permits return of such company into the business upon aid or through reorganization of the structure of the company (Gupta, (n.d.)). The most important sign that shows that a company is at the verge of getting insolvent is the financial suffering that a company is going through. These signs may be indicated from constant losses, degrading liquidity, payment due to creditors, no new business plans, unfinished accounts or mismanaged core accounting methods, growing liabilities, difficulties in selling of stocks and in collection of debts, unpaid creditors, summons and warrants being issued to the company, bouncing of cheques, overdraft limits being crossed, default in payment of loans or interests by the company, difficulty in getting finance, difficulty in raising funds from stakeholders, non- payment of taxes and other liabilities, growing number of complaints and queries from suppliers, etc. (Australian Securities Investment Commission, 2016). Upon getting information regarding such distress that a company is going through, the Commissioner of Taxation of Australia issues a penalty notice to the director of the c ompany for the non- paid and non- reported Pay As You Go cover-up of the company or a Superannuation Guarantee Charge sum. The company, if fails to take required measures, by seeking guidance of a professional, in a period of twenty- one days, the Commissioner is empowered to take an action for recovery against the company for a sum equal to the tax due. If the director suspects that there is financial suffering in the company, he should take guidance from accounting and legal professionals as soon as possible so as to withhold the existence of the company. An insolvency lawyer may help out in conducting a solvency review of the company and provide alternatives available to the company. The director is required to be alert regarding the alternatives available so as to make proper conclusions for the company. The alternatives that are available like refinancing, reorganizing the structure of the company, altering the activities of the company or employing an external administrator for the company (Australian Securities Investments Commission, 2014). If a company has been declared insolvent or is at the verge of getting insolvent the directors of the company become responsible towards the creditors as well as towards the shareholders of the company. It is the duty of the director to ensure that if the company has been declared insolvent, it shall not trade or carry on its business. The directors shall also keep himself informed about the financial status of the company. Further where an action has been taken against the directors for insolvent trading, it is the general presumption that the company has undergone insolvent trading if it has failed in maintaining proper financial accounts for the said period (Australian Securities Investments Commission, 2014). In case where a company is presumed to become insolvent the most important duty of the director is to not incur any debts (Australian Securities Investments Commission, 2014). Different avenues are available to the company to recapitalize it instead of putting the company under liquidation. They are restructuring which includes selling-off, spinning- off, equity carve- outs, leverage buy- outs, recapitalization, debt for equity swaps, prepacks and forbearance and creditor compromise arrangements, refinancing, and equity funding (OFlynn, n.d.). Further a company may also be put for external administration by the creditors instead of winding up the company. There are various ways by which a company may be externally administered so as to protect and increase the worth for creditors. Under these processes an independent external administrator is appointed for the purpose of managing the company and its assets. The administrator so appointed will have all the powers of a director of such company and has privilege of not being sued by the creditors or any third party. The creditors or any third party have no right to sue the company without the permissions of the administrator so appointed or without the sanction of the court (OFlynn, n.d.). The ways in which a company may be externally administered are: Receivership Under this type of external administration an independent receiver or a controller is appointed either by a secured creditor of the company or by the court for the purpose of administering the assets and the business of the company. The authority of the directors thereby gets limited during the period of for which a receiver has been appointed for the company. The receivership gets terminated when the creditors receive their due payment or when all the assets are realised or upon the order of the court (OFlynn, n.d.). Voluntary Administration Under this type of external administration a competent insolvency auditor is appointed to manage and investigate the financial transactions of the company, to make reports and recommendations to the creditors of the company, and to convene and proceed meetings of the creditors of the company. The auditor also assists the administrator in his work. By the end of the voluntary administration the creditors of the company have to decide what future direction is to be taken for the company. The future directions for the company may be: That the company be given back to the directors to continue their business; or That the company shall opt for deed of company arrangement; or That the company shall be put for liquidation (OFlynn, n.d.). Deed of Company Arrangement Under deed of company arrangement a deed of compromise is made between the creditors and the company under the administration of an independent external administrator. The purpose of the arrangement is to create a fund out of the assets of the company or by way of third party contribution for the purpose of settling the claims of the creditors of the company in final and after that the authority of the company is given back to its directors for them to carry on their business (OFlynn, n.d.). In cases of insolvency of a company the parties may intervene for the liquidation of the company. The voluntary liquidation of the company which is called creditors voluntary liquidation which is initiated by the officers and the stakeholders of the company. A liquidator is appointed for the purpose who manage the selling of assets of the company and pays off the creditors from the proceeds thereof. Another type of intervention takes place by the court which is involuntary in nature. In this type of intervention the liquidation procedure is started by the creditor of the company. A liquidator is appointed by the court for the purpose of liquidation. According to the summary analysis of June Quarterly Statistics of 2017 made by ASIC the last quarter of 2016-17 financial year indicates a raise of 28% in the companies that are seeking external administration. The total for the quarter was reduced by 3.7% since June 2016 and the percentage of companies which are seeking external administration for the quarter in relation to new incorporations is less than 4% (Australian Securities Investments Commission, 2017). Upon the declaration of a company as insolvent, the liquidator appointed thereafter investigates the transactions of the company. For the purpose of investigation the liquidator has to examine all the officers of the company and whether they have acted in compliance of their duty to act in good faith or not so as to decide whether they may be held liable for those acts which took place during the normal operation of the business. This may give an opportunity to the liquidator for financial recovery. If the liquidator finds any breach of duty on the part of the director, the former may bring action against such director for recovering damages occurred to the company (Swaab Attorneys, 2009). If the liquidator finds any breach of a commonlaw duty on the part of the director, the former may recover the damage from the directors property or the liquidator may also have right to get informed about the profits. Such director who commits a breach of a duty to take due care and act diligently will be liable for any loss occurring to the company by his act. Any breach of a duty by a director under Sections 180- 183 of the Corporation Act 2001 (Cth) will attract civil penalty upto a sum of $200,000 upon an application of ASIC. In case of any loss to the company due to the breach of duty by the director, the Court may order such director to pay compensation to the company. Further a criminal liability may also be imposed on a director for breach of above mentioned provisions where such breach has been caused or an information has been received or used recklessly or intentionally or dishonestly or by not exercising the authority in good faith for the interest of the company or for personal gain or so as to cause detriment to the company (Swaab Attorneys, 2009). The director may be liable under the provisions of Corporation Act 2001 (Cth) when the company has incurred debt at the time when the company was insolvent or became insolvent after incurring such debt or there were probabilities of company getting insolvent on incurring such debt and a prudent man in similar circumstances would have knowledge about the insolvency of the company. In case of breach of this provision by the director of the company, he is liable for civil penalty which will be applied by Australian Securities and Investments Commission on the director along with compensation for the creditors. Also criminal proceedings may be initiated against the director where it is found that, in addition to the conditions applicable in case of civil penalty, the director of the company while incurring the debt knew the fact that the company was insolvent or is likely to become insolvent upon incurring such debts and the director dishonestly incurred the debt (Corporation Act 2001 (C th) s 588G; Swaab Attorneys, 2009). Section 588G of the Corporation Act 2001 (Cth) attracts the application of Section 1317E of the said Act whereby if the court thinks that the director has violated the above mentioned provision the Court shall declare that the said provision has been contravened (under item number 6) by the director. Upon declaration being made by the Court the Australian Securities and Investments Commission will get authority to look for order of pecuniary penalty (Corporations Act 2001, (Cth) s 1317G or may disqualify the order (Corporations Act 2001 (Cth) s 206C). Australian Securities Investments Commissions regulates the organisational, market and financial services in Australia. The ASIC is empowered to register accountants and liquidators for the purpose of liquidation of a company which is about to become insolvent. Further the ASIC has also power to order a company which is at the verge of insolvency or has already became insolvent to wind up. The commission has been provided with a number of tools for the purpose of investigation and enforcement under the ASIC Act and the Corporations Act 2001 (Cth). The said commission has powers to initiate investigation proceedings in case of contravention of any provisions of either of the above said Acts. The Australian Restructuring Insolvency and Turnaround Association (ARITA) is another organization of Australia that provides support in cases of restructuring, insolvency and turnaround through qualified professionals (Australian Restructuring Insolvency and Turnaround Association, 2016). It can be concluded that Australia has a wide variety of official external regulatory procedures for corporations. It has been observed that what importance does each area holds for the purpose of restructuring and smooth functioning of a business organization which is about to become insolvent. Only voluntary administration is designed so as to facilitate reorganization and restructuring of the insolvent companies in Australia. Voluntary administration is a supple procedure which is cost effective. References: Australian Restructuring Insolvency and Turnaround Association, 2016, Australian Restructuring Insolvency and Turnaround Association. Available from: https://www.arita.com.au/iMIS_Prod/. [17 September 2017]. Australian Securities Investments Commission, 2014, Directors- what are my duties as a director? Available from: https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-are-my-duties-as-a-director/. [17 September 2017]. Australian Securities Investments Commission, 2014, Directors- what happens if company insolvent, Available from: https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-happens-if-company-insolvent/. [18 September 2017]. Australian Securities Investments Commission, 2014, Directors- what to do if company in financial difficulty, Available from: https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-what-to-do-if-company-in-financial-difficulty/. [17 September 2017]. Australian Securities Investments Commission, 2014, Insolvency, Available from: https://asic.gov.au/regulatory-resources/insolvency/. [17 September 2017]. Australian Securities Investments Commission, 2016, Directors- Is my company in financial difficulty? Available from: https://asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-is-my-company-in-financial-difficulty/. [17 September 2017]. Australian Securities Investments Commission, 2017, Corporate insolvencies: June quarter 2017, Available from: https://download.asic.gov.au/media/4410590/201706-june-qtr-2017-summary-analysis.pdf. [18 September 2017]. Corporation Act 2001 (Cth). Gupta, N. n.d., Insolvency laws in Australia. Parliament of Australia. Available from: https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/InsolvencyLaws. [17 September 2017]. OFlynn, K. (n.d.), Restructuring and insolvency, Clayton UTZ. Available from: https://www.claytonutz.com/ArticleDocuments/501/25_RestructuringInsolvency.pdf.aspx?Embed=Y. [18 September 2017]. Swaab Attorneys, 2009, Australia: An introduction to insolvency law- part one, Mondaq, Available from: https://www.mondaq.com/australia/x/79816/Insolvency+Bankruptcy/An+Introduction+To+Insolvency+Law+Part+One. [18 September 2017].