Fords Value Enhancement Plan - Free Essay Example

Sample details Pages: 2 Words: 745 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Fords Value Enhancement Plan aims to align the interests of various shareholders by offering them different options the choice of $20 in cash, additional new common shares or a combination of cash and new share. Based on the following analysis, Ford should go ahead with Value Enhancement Plan. Characteristic of VEP The Value Enhancement Plan has the feature of stock split and share repurchase. Exchanging existing shares for new shares on a one-for-one basis, shareholders are also offered the option to reinvest $20 to receive additional new Ford common shares. In this sense, share price would decrease while the number of shares outstanding is going to increase. According to Fords announcement mentioned in the case, shareholders choosing the share option would receive 0.748 new Ford common shares in lieu of $20 cash. So, the effect is similar to 1.748 for 1 stock split. However, not all the shareholders prefer share option. For those who elect cash option, they would receive $20 as though they sell part of their shares, which reflects the feature of share repurchase. Don’t waste time! Our writers will create an original "Fords Value Enhancement Plan" essay for you Create order Advantages of VEP With the combined feature of stock split and share repurchase, VEP has its strength. In terms of cash option, since there is no good things to do with the massive cash reserve, returning the excessive cash allows shareholders to make profitable investment by themselves. Unlike cash dividend, returned cash is taxed as capital gains, so it generates tax efficiency for shareholders. In addition, though the price of new Ford shares would decrease, shareholders will not bear any loss, because the reduced price is offset by the cash they receive. But from the companys point of view, they can reduce dividend payment. Companies tend to keep dividend payout ratio constant, so dividend for each new Ford share will decrease because share price falls. For those who choose to receive $20 in cash, they keep the same amount of shares before VEP is introduced, therefore, the total dividend payment is going to reduce and to some extent, the pressure for increasing dividend level can be relieved a bit. Moreover, the effect of cash option is similar to that of share buyback, the number of new shares outstanding will reduce; thus, earnings per share will increase and it can increase the overall demand for Fords share, which will benefit share price in the long run. If shareholders elect stock option, they can increase voting power and exercise more control over the company. Also, as we discussed in the cash option, share price will increase, so, shareholders will benefit a lot from holding more new Ford shares. As for the combination of cash and new shares, shareholders can take part of their money out of the stock to make other profitable investment, and they can also maintain their interest in the company. On the one hand, they can enjoy tax efficiency by paying tax of capital gains for cash received, on the other hand, they can enjoy the profit when share price increases and they can have a say in the firm. VEP is better than cash dividend in terms of tax effect, and compared with share repurchase, it meets shareholders need to remain or increase control of the company. Therefore, based on the analysis, Ford should go ahead with VEP. Possible Choices of Different Shareholders Ford family member will choose stock option because they want to expand their control in the firm. By supporting VEP, their 40% voting power remains unchanged but their equity in the firm decreases from 5% to 3.6%. If they elect stock option, they hold more common shares, and their voting power is beyond 40%. Institutional investors, such as TIAA-Cref and the Calpers would choose combination of cash and shares. Its obvious that VEP favors Ford family members and dilutes institutional investors voting power, so its hard for them to compete with Ford family members in terms of control even if they reinvest all the $20 cash to buy new Common shares. In this sense, combination of cash and new share is a better choice for them. They can get part of their investment out of Ford stock for good opportunities somewhere else; meanwhile, they can remain interest in Ford. A regular outsider shareholder doesnt care about voting power. The purpose of their investment is profit. So, if I wa s one of them, I would go for cash option, because I would think Ford cant find profitable projects and there are few growth opportunities. By getting money back, I can make good use of it by myself.

Essay On Lyddie - 1079 Words

What if you had to make a decision that could end all wrong doings in a mill? In the book Lyddie, Lyddie is facing some problems in the mill like harassment, dangerous machines that can cause her serious pain and even air full of dust and Betsy a friend of Lyddie wants to show others whats happening in the mill and wants to start a petition. Lyddie should sign the petition because of the harassment and treatment of one person and the unhealthy and dangerous environment. The first reason Lyddie should sign the petition Is because girls are being harassed and not treated with respect. Lyddie is on her breakfast break talking to Betsy and Amelia when she notices Mr.Marsden is talking to one of the girls. While Lyddie is listening†¦show more content†¦This shows Lyddie should sign the petition because of the dangerous environment. The next reason why Lyddie should sign the petition is because of the bad environment and the harmful machines. In chapter 10 it says Lyddie is getting ready for another day and as she goes in the mill and starts working Lyddie notices its really dusty and hard to breath in the area. It was really hard for her to breath in the mill. â€Å"Now that she thought of it, she could hardly breathe, the air was so laden with moisture and debris†(75). This quote shows that the mill is not in good condition and the air is dusty and full of lint. This can cause people to get dizzy and start coughing when being in the room. This is in the room because the mill is never kept clean. This is definitely an example of health safety and environment. Lyddie is working on the machine when it stops working and she has to put it back in place and the shuttle popped and flew at her temple which caused Lyddie to get hurt. While Lyddie is injured she is knocked out and in pain. â€Å"She remembered r ethreading the shuttle and putting it back in the race, yanking the lever into its slot†¦Before she could think she was on the floor, blood pouring through the hair near her right temple†¦the shuttle, the blasted shuttle† (102). This quote shows that the machine is not safe for people to use and can cause serious harm which is not good and can be dangerous. If this injury happened some

Decision Making Process Free Essays

Give the example of a recent purchase of an expensive article (hand –phone, camera or notebook computer). Explain your decision –making process and what source of information did you use in making the decision to buy the article? The decision making is the very important in our business environment because as we know many company are trying to get rare resource so we cannot do mistake in decision making to buy something expensive things . As a manager, the manager need to know how to decide the decision and need to think continuously about his decision . We will write a custom essay sample on Decision Making Process or any similar topic only for you Order Now The manager want to the computer for his company so that he need to know the buyer decision process and need to use the process. Buyer decision processes are the decision making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service. In the decision process need to imply five stages with every purchase but sometimes we can skip and reverse the some stages because we need to buy many purchase. The marketers need to concern in buying process rather than only on the purchase decision. In the decision making include five stages .These five stages are – 1. Need recognition Need recognition occurs when there is perceived difference between an individual’s ideal state and reality. In most situations the Initiator is also the User or Buyer. Users are inclined to identify the need for new solutions (i. e. , new products) while Buyers are more likely to identify the need to re-purchase products. But marketer should also understand that more companies are replacing human involvement in re-purchase decisions with automated methods, thus making it more challenging for competitors to replace currently purchased products.In straight re-purchase situations, whether there is human intervention or not, the purchasing process often jumps from Need Recognition to Purchase and little search activity is performed. The needs can be assume as normal needs become a high level and strong enough to drive behavior. The needs also can be triggered by the external stimuli as the advertisement and friends. 2. Information Search The above stage, the consumer need to search more information about the product or purchases. The consumer options available and consumer need to search about the product, price and quality.Two types of information search include . There are external and internal. The external exist – Most often used in frequent purchases. The potential buyer recalls memories and previous experiences with a product or with the company. The internal exist – Most often used when there is a lack of prior experience with a product. The risk of making a wrong purchase decision is greater. The consumer can obtain information from any of several sources. These include personal sources, commercial sources, public sources and experiential sources. 1. Personal sources such as –friend, family and co-workers. . Market such as –commercial, print advertisement, salespeople and websites. 3. Public sources such as –media reviews, magazines and consumer reports. 4. Experiential sources such as – handling, examining or using the product. Generally, the consumers receives the most information about a product from commercial sources . Personal sources is the most effective source hat can be legitimize or evaluate product the for the buyer. If the consumers know the information as much as they can, they can aware and knowledge of available brands and features. Marketer should need to understand consumer’s source of information and the important of each source. 3. Evaluation of Alternatives The consumers can their information as know as they can and they can even chose the better band because of their information. How consumers go about evaluating purchase alternatives depends on the individual consumer and the specific buying situation. Sometimes it has many concepts help to explain the consumer evaluation of alternatives process. In some cases, consumers use careful calculations and logical thinking.At other times, the same consumers do little or no evaluating; instead they buy on impulse and rely on intuition. Sometimes, the consumers make buying decision by themselves and sometimes they wanna be use friend, buying or consumer guides or sales person advice. The multi-attribute attitude model explains how consumers evaluate alternatives on a range of attributes. Finally, there are ranges of ways that consumers apply criteria to make decisions. Belch and Belch (2007) explain how information is integrated and how decision rules are made including the use of heuristics.The marketing organization should know how consumers evaluate alternatives on salient or important attributes and make their buying decision. 4. Purchase Decision In this stage , Through the evaluation process discussed above consumers will reach their final purchase decision and they reach the final process of going through the purchase action e. g. The process of going to the shop to buy the product, which for some consumers can be as just as rewarding as actually purchasing the product.Purchase of the product can either be through the store, the web, or over the phone. However, Purchase decision making process have two factor can come between purchase intention and the purchase decision. They are – 1. Attitudes of Others The attitudes of other go through the buying decision and the individual’s motivation to complete with the person’s wishes and imagine. 2. Unexpected Situational Factors Unexpected situational factors can got the higher level when the consumer is about to act on the purchasing decision. 5.Post – purchase Behavior After the consumer purchasing, they may take the action based on their satisfaction or dissatisfaction. This simply is post purchase behavior and research shows that it is a common trait amongst purchasers of products. Manufacturers of products clearly want recent consumers to feel proud of their purchase; it is therefore just as important for manufacturers to advertise for the sake of their recent purchaser so consumers feel comfortable that they own a product from a strong and reputable organization.This limits post purchase behavior. As the example, Consumer feel reassured that they own the latest advertised product. Almost all major purchases result in cognitive dissonance, or discomfort caused by post purchase conflict. Cognitive dissonance is the common problem in post – purchase behavior . So it is important to solve the problem of this cognitive dissonance . The company support the two basic groups to solve these problem. Company’s sales come from two basic groups – new customers and retained customers.After solve the problem , the consumer will happy so that a satisfied customer tell 3 people about a good product experience, a dissatisfied customer gripes to 11 people. But a bad thing is some 96 percent of unhappy customers never tell the company about their problem. As I am a manager, I need to buy a note book computer for my company. I need to the some decision making process and need to use the five stages of decision making. .The manager should have a ability of solution upon the problem and should have need of recognition .The manager should search the information for his computer which one is better . In the computer world, there have many brand and the manager need to choice according to brand, about information of research and evaluation of brand. There have many brands such as Acer, Lenovo, Dell, Sony and Toshiba. They have different types of features and can have some different special effect. Manager will compare the features and evaluate the notebook computer character . These are some of note book computer features such as – | | | | | | | | | | | | | | |Sony VIVO |TOSHIBA |DELL MODEL |LENOVO |COMPAQ | | | |SATELLITE |(4011023) |Think pad | | | | | | |T410 | | | | | | | | | |Screen size |17 inches |17 inches |17 inches |16. inches |17 inches | | | | | | | | |Hard Disk in |300 |250 |250 |200 |300 | |GB | | | | | | | | | | | | | |RAM in MB |3500 |3200 |3100 |3000 |3150 | | | | | | | | |Average selling | | | | | |price |$ 2000 |$ 1700 |$ 2000 |$ 1100 |$ 1300 | | | | | | | | | | | | | | | | |1 year service |1 year service |1 year service |1and half year |2 year service | |Comments | |and 1 printer |and 1 ink pad |Service | | | | |free gift |free | | | LENOVO [pic] [pic]SONY [pic] TOSHIBA [pic] DELL [pic]COMPAQ This is a comparing result upon the each brand of evaluation. As the result, I can choose the better brand according to the comparing. I will refer the better from the graph. I think Lenovo is the worst because Lenovo don’t have enough features and quality. But the price is a little bit cheaper than rest . Lenovo may be cheaper because they don’t have enough function to display. Lenovo is not suitable for company work.This one may be spoil as soon as possible. In my choice, Lenovo is cancelled. Let see, about the Sony and Dell. Sony is very expensive and also have high quality I cannot enough money to buy Sony so that Sony may be cancelled my choice. Dell have enough quality and function . Dell don’t have service center in Singapore so I don’t want to purchase the kind of product even have the 1 year service and 1 ink pad free . If I have a problem from Dell, I need to call Dell Company. After that Dell Company say they will send a technician to prepare my computer. As we know, we don’t have enough time to wait in Singapore. We need to go to work so that I don’t like Dell.This is a part of using my information source because I like the Compaq very much. My friend uses the Compaq every time. I can see the friend computer every day so I interested the Compaq and Compaq’s function also. I asked my friend how about your computer? I didn’t except because he told me my computer is not good . I need to go to service room because computer cannot accept the over load. So I noticed the Compaq and he refer me for Toshiba . He says Toshiba is very hard and can use even they have overload . Toshiba is very heard to spoil . So I interested about in Toshiba . I check the comparing graph and I can consider the Toshiba is also a good to buy .And then I see the price list, it is only have $ 1700 so I can effort to buy it. Toshiba also have the 1 year service and 1 printer will give for free . I really like this promotion. I also need to buy a printer but me no need to buy the printer because of my Toshiba. So I decided to buy the Toshiba because of my information source and evaluation alternatives. Even I purchased Toshiba, Toshiba have a problem . Toshiba company’s know the Post – Purchase behavior so that they give the service until full of 1 year. So it is very comfortable for me. I cannot get any trouble from my computer . It is very satisfied for me . I also ready to share my friend to buy Toshiba .Toshiba is the good brand in the computer world. So I like Toshiba brand ever for my rest of life. Question 2. Explain the usefulness of Pareto Analysis as a tool in inventory management. Illustrate its applications. Pareto Analysis in inventory management Pareto Analysis (G) is a statistical technique in decision making that is used for the selection of a limited number of tasks that produce significant overall effect. It uses the Pareto Principle (also know as the 80/20 rule) the idea that by doing 20% of the work you can generate 80% of the benefit of doing the whole job. Or in terms of quality improvement, a large majority of problems (80%) are produced by a few key causes (20%). This effect, known as the 80: 20 rules, can be observed in action so often that it seems to be almost a universal truth. As several economists have pointed out, at the turn of the century the bulk of the country’s wealth was in the hands of a small number of people. This fact gave rise to the Pareto effect or Pareto’s law: a small proportion of causes produce a large proportion of results. Thus frequently a vital few causes may need special attention wile the trivial many may warrant very little. It is this phrase that is most commonly used in talking about the Pareto effect – ‘the vital few and the trivial many’. A vital few customers may account for a very large percentage of total sales. A vital few taxes produce the bulk of total revenue. A vital few improvements can produce the bulk of the results. The Pareto effect is named after Vilfredo Pareto, an economist and sociologist who lived from 1848 to 1923. Originally trained as an engineer he was a one time managing director of a group of coalmines. Later he took the chair of economics at Lausanne University, ultimately becoming a recluse. Mussolini made him a senator in 1922 but by his death in 1923 he was already at odds with the regime. Pareto was an elitist believing that the concept of the vital few and the trivial many extended to human beings. The Pareto analysis also known as ABC analysis. The ABC concept is derived from the Pareto’s 80/20 rule curve.It is also known as the 80-20 concept. We can split up our inventory into three basic categories; A, B and C. The A materials will be the 20% that are most crucial to your process. Depending upon your business, the A materials could be less or more than 20% of your inventory. The classification of ABC analysis or The Pareto analysis . ABC Analysis have 3 types to classified . They are such as – †¢ 10-20% of the items (‘A’ class) account for 70-80% of the consumption †¢ the next 15-25% (‘B’ class) account for 10-20% of the consumption and †¢ the balance 65-75% (‘C’ class) account for 5-10% of the consumption [pic] ABC analysis graph formationDuring inventory control, we need to know the Pareto Analysis or ABC Analysis to control our stock effectively. As the result, we know the ABC analysis so that we can actually know our stock position. Our stock that we keep when the stock can finished and when the stock keep for long time. We can also know how many months need to sell for each stock and how many months can keep in the inventory. We also know about why our stock cannot be sold and kept in our inventory for a long time. Illustration of Pareto Analysis or ABC Analysis in inventory management Let see, the Pareto analysis of inventory management. We could start from the list of our stocks. We can also determine the stock as know as you can and you can also put the unit cost definitely. Item |Production Codes |Total Stocks |Unit Cost ($) |Total Cost ($) | |1 |SPF 001 |300 |200 |60,000 | |2 |SPF 002 |50 |17 |850 | |3 |SPF 003 |180 |11 |1,980 | |4 |SPF 004 |85 |52 |4,420 | |5 |SPF 005 |400 |50 |20,000 | |6 |SPF 006 |225 |25 |5,625 | |7 |SPF 007 |315 |80 |25,200 | |8 |SPF 008 |90 |5 |450 | |9 |SPF 009 |100 |10 |1,000 | |10 SPF 010 |150 |115 |17,250 | |11 |SPF 011 |80 |14 |1,120 | |12 |SPF 012 |75 |25 |1,875 | |13 |SPF 013 |40 |16 |640 | |14 |SPF 014 |45 |25 |1,125 | |15 |SPF 015 |20 |15 |300 | |16 |SPF 016 |200 |15 |3,000 | |17 |SPF 017 |180 |35 |6,300 | |18 |SPF 018 |150 |10 |1,500 | |19 |SPF 019 |10 |13 |130 | |20 |SPF 020 |30 |20 |600 | | | | | |153,365 | After we got the list of our stocks, now, we have to sort the items in descending from the highest cost to the lowest cost and determine which items are A classes, B Class, or C Class. Items |Production Code |Total St ocks |Unit Cost ($)|Total Cost ($) |Cumulative Cost |% of Cumulative Cost | |1 |SW 001 |300 |200 |60,000 |60,000 |39 % | |5 |SW 005 |400 |50 |20,000 |105,200 |68. 5 % | |17 |SW 017 |180 |35 |6,300 |128,750 |83. 9 % | |4 |SW 004 |85 |52 |4,420 |138,795 |90. 4 % | |3 |SW 003 |180 |11 |1,980 |143,775 |93. % | |18 |SW 018 |150 |10 |1,500 |147,150 |95. 9 % | |11 |SW 011 |80 |14 |1,120 |149,395 |97. 4 % | |2 |SW 002 |50 |17 |850 |151,245 |98. 6 % | |20 |SW 020 |30 |20 |600 |152,485 |99. 4 % | |15 |SW 015 |20 |15 |300 |153,235 |99. % | |Total | | | |A |1, 7, 5, 10 |80 % | |B |17, 6, 4, 16 |12. 4 % | |C |3, 12, 18, 14, 11, 9, 2, 13, 20,|7. 6 % | | |8, 15, 19 | | After we classified the items into classes, now we know that items in A class can affect 80 % of the cost. That’s why, now we can concentrate on the A class items. Items |Production Code |Holding Stocks (unit) |3 Months Sales (unit) |Holding (months) | |1 |SW 001 |300 |100 |9 | |7 |SW 007 |315 |300 |3 | |5 |SW 005 |400 |200 |6 | |10 |SW 010 |150 |150 |3 | By this graph, we can know how long our stocks can finish and why we need to keep stocks in small quantity. We can ask the marketing manager about their stock and we need to ask the manager to get definitely explanation from him so we can take their stock more than precious and we need to A class items because those items affect about 80% of the value. Remark of stock ITEM 1 (SPF 001) Item 1 need to store until 9 month . So we need to store this item very long time.We are not happy to keep this item to quite long time . We need to ask the question to the manager why he kept the stock for a long time. He need to explain the key point to our . He explain like this, this items will be sold out in the biggest event in Singapore, Chinese New year was coming soon . After that we can make this item to sold out. We can consider as a good explanation so we can accept his explanation. ITEM 7 (SPF 007) Item 7 need to store until 3 month . So we need to store this item quite long time . We don’t want to store this item very long time . We have a question upon the manager why he kept the stock for long time . He need to explain the key point to our .He explain like this ,this item will be sold out during the Chinese New year holidays . In holidays , everybody are free so they may go shopping so this item may be sold out during holidays . He explained very well the key point. We need to accept this explanation as a good reason. ITEM 5 (SPF 005) Item 5 need to store until 6 month . So we need to store this item in our inventory so that we don’t want to kept this kind of stock in our inventory . This stock can be waste our place and time . So we want to sell finishes this item as soon as possible . We also have a question for this stock so we need to ask the question to manager why he kept the stock . He need to give a acceptable explanation.Let say , this item will sold out in Valentines Day because all over the world have the Valentines day so we also have . Our stock will be sold out in these days . The manager answer is acceptable so we need to accept his answer for our stock. ITEM 10 (SPF 010) Item 10 also need to store until 3 month. So we have many item in our store . We don’t want to store anymore this stock in our inventory . This is no more place to store this item but we can store this item at least 3 month after 3 month we don’t want to store any more so we need to sold out this item as soon as possible. We need to ask the specific question to manager why this stock need to keep. The manager also need to give specific answer to our. He say like this ,this item will be sold out definitely before Valentines Day because people want to buy the gift before the valentines . So this stock must be sold before Valentines Days . We enjoy in his answer and we definitely like his answer and accept his answer. Conclusion In conclusion, we know how to control our stock . we also know how to manage our inventory . The Pareto Analysis or ABC Analysis are very important in our inventory management. We can know every about the inventory management whatever we want and we can also understand how to keep our stock and how can I sell faster . We also can get the more other opportunities . We know all analysis so that we can do effectively in our management and cannot waste in our management . The Pareto or ABC analysis is very important for me and I think it is very important to everyone.Reference: 1. Mark M. Davies and Nicholas J. Aquila no (1991). Production Management. Printed in New York , Hill Higher Education 2. BHARATK. MAJUMDAR (1998). Inventory Management. Printed in Delhi ,Anmol Institute of Education 3. Ober, Scot, Ph. D (1991). Principles of Marketing. Printed in USA at Houghton Mifflin College USA. 4. Chase Aquilano Jacobs (1976). Operation Management. Printed in US 5. NORMAN GAITHER (1996). Operation and Production Management. Printed in USA at Wasdsworth College USA. html†http://www. projectsmart. co. uk/pareto-analysis-step-by-step. html How to cite Decision Making Process, Essays

8220Araby8221 Lesson in Adolescence Essay Example For Students

8220Araby8221 Lesson in Adolescence Essay In his brief but complex story Araby, James Joyce concentrates on character rather than on plot to reveal the ironies within self-deception. On one level Araby is a story of initiation, of a boys quest for the ideal. The quest ends in failure but results in an inner awareness and a first step into manhood. On another level the story consists of a grown mans remembered experience, for a man who looks back to a particular moment of intense meaning and insight tells the story in retrospect. As such, the boys experience is not restricted to youths encounter with first love. Rather, it is a portrayal of a continuing problem all through life: the incompatibility of the ideal, of the dream as one wishes it to be, with the bleakness of reality. This double focus-the boy who first experiences, and the man who has not forgotten provides for the rendering of a story of first love told by a narrator who, with his wider, adult vision, can employ the sophisticated use of irony and symbolic imagery necessary to reveal the storys meaning. The story opens with a description of North Richmond Street, a blind, cold .. silent (275)street where the houses gazed at one an-other with brown imperturbable faces..(275) The former tenant, a priest, died in the back room of the house, and his legacy-several old yellowed books, which the boy enjoys leafing through because they are old, and a bicycle pump rusting in the back yard-become symbols of the intellectual and religious vitality of the past. Every morning before school the boy lies on the floor in the front parlor peeking out through a crack in the blind of the door, watching and waiting for the girl next door to emerge from her house and walk to school. He is shy and still boyish. He follows her, walks silently past, not daring to speak, overcome with a confused sense of desire and adoration. In his mind she is both a saint to be worshipped and a woman to be desired. His eyes are often full of tears..(276) Walking with his aunt to shop on Saturday evenings he imagines tha t the girls image accompanies him, and that he protects her in places the most hostile to romance. (276) Here, Joyce reveals the epiphany in the story: These noises converged in a single sensation of life for me: I imagined that I bore my chalice safely through a throng of foes.(276) He is unable to talk to the girl. Drifting away from his schoolmates boyish games, the boy has fantasies in his isolation, in the ecstasy and pain of first love. Finally the girl speaks to the boy. She asks him if he is going to Araby. He replies that if he does he will bring her a gift, and from that the moment his thoughts are upon the potential sensuality of the white border of a petticoat. (277) The boy cannot sleep or study and his school work suffers had hardly any patience with the serious work of lifeseemed to me childs play, ugly monotonous childs play. (277) The word Araby cast an Eastern enchantment (277) over him, and then on the night he is to go to the bazaar his uncle neglects to return home. Neither the aunt nor uncle understands the boys need and anguish, thus his isolation is deepened. We begin to see that the story is not so much a story of love as it is a rendition of the world in which the boy lives.The second part of the story depicts the boys inevitable disappointment and realization. In such an atmosphere of blindness(277) the aunt and uncle unaware of the boys anguish, the girl not conscious of the boys love, and the boy himself blind to the true nature of his love-the words hostile to romance (276) take on ironic overtones. These overtones deepen when the boy arrives too late at the bazaar. It is closing and the hall is in darkness.(278) He recognizes a silence like that which pervades a church after a service,(278) but the bazaar is dirty and disappointing. Two men are counting money on a salver(278) and he listens to the fall of the coins.(278) The young lady who should attend him ignores him to exchange inane vulgarities with two young gentlemen.,(278) destroying the boys sense of an Eastern enchantment (277)The boy senses the falsity of his dreams and his eyes burn with anguish and anger.The boys manner of thought is made clear in the opening scenes. Religion controls the lives of the inhabitants of North Richmond Street. The boy, however, entering the new experience of first love, finds his vocabulary within the experiences of his religious training and the romantic novels he has read. The result is an idealistic and confused interpretation of love based on the imagery of romance. This creates an epiphany for the boy as he accompanies his aunt through the market place, lets us experience the texture and content of his mind. We see the futility and stubbornness of his quest. But despite all the evidence of the dead house on a dead street the boy determines to bear his chalice safely through a throng of foes. Mangans sister is saintly; her name evokes in him strange prayers and praises. The boy is extraordinarily lovesick, and from his innocent idealism and stubbornness, we realized that he can not keep the dream. He must wake to the demands of the world around him and react. Thus the first half of the story foreshadows the boys awakening and disillusionment. .u588980ff68557f75d0e711bb353940a6 , .u588980ff68557f75d0e711bb353940a6 .postImageUrl , .u588980ff68557f75d0e711bb353940a6 .centered-text-area { min-height: 80px; position: relative; } .u588980ff68557f75d0e711bb353940a6 , .u588980ff68557f75d0e711bb353940a6:hover , .u588980ff68557f75d0e711bb353940a6:visited , .u588980ff68557f75d0e711bb353940a6:active { border:0!important; } .u588980ff68557f75d0e711bb353940a6 .clearfix:after { content: ""; display: table; clear: both; } .u588980ff68557f75d0e711bb353940a6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u588980ff68557f75d0e711bb353940a6:active , .u588980ff68557f75d0e711bb353940a6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u588980ff68557f75d0e711bb353940a6 .centered-text-area { width: 100%; position: relative ; } .u588980ff68557f75d0e711bb353940a6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u588980ff68557f75d0e711bb353940a6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u588980ff68557f75d0e711bb353940a6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u588980ff68557f75d0e711bb353940a6:hover .ctaButton { background-color: #34495E!important; } .u588980ff68557f75d0e711bb353940a6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u588980ff68557f75d0e711bb353940a6 .u588980ff68557f75d0e711bb353940a6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u588980ff68557f75d0e711bb353940a6:after { content: ""; display: block; clear: both; } READ: Should Prayer Be Allowed In Public Schools EssayThe account of the boys futile quest emphasizes both his lonely idealism and his ability to achieve the perspectives he now has. The quest ends when he arrives at the bazaar and realizes with slow, tortured clarity that Araby is not at all what he imagined. It is tawdry and dark and thrives on the profit motive and the eternal lure its name evokes in men. The boy realizes that he has placed all his love and hope in a world that does not exist except in his imagination. He feels angry and betrayed and realizes his self-deception. He feels he is a creature driven and derided by vanity and the vanity is his own. At no other point in the story is characterization as brilliant as at the end. Joyce draws his protagonist with strokes designed to let us recognize in the creature driven and derided by vanity a boy who is initiated into knowledge through a loss of innocence who does not fully realize the incompatibility between the beautiful, innocent world of the imagination and the very real world of fact. In Araby, Joyce uses the boyhood character with the manhood narrator to embody the theme of his story. Joyce, James. Araby. Literature and Its Writers. Bibliography:Eds. Ann Charters and Samuel Charters. Boston: Bedford/St. Martins, 2001. Pgs 366-378.

How America Has Changed Forever free essay sample

Americans to this day will never act or feel the same way as they once used to. What we did then and how we did it, we can no longer do now. It has been over twelve years since the United States went through one of the most horrific, terrifying tragedies in all of United States history. As we all know today, on September 11, 2001, Al-Qaeda terrorists hijacked four passenger airliners so they could be flown into buildings in suicide attacks. Two of those planes were intentionally crashed into the North and South towers of the World Trade Center complex in New York City. For this reason, there has been an enormous amount of changes in the United States. The three major areas that have changed are the airport security, the government, and the psychological impact. Before the attacks on the World Trade Center, airports security was fairly simple. For instance, passengers only had to show your ID and passengers were allowed to bring sharp objects on board such as: penknives, box cutters, and sharp scissors. We will write a custom essay sample on How America Has Changed Forever or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Passengers were also allowed to walk through security with their shoes on, a belt on, or even a drink in their hand. Whereas now, we have adopted a new form of security called the Transportation Security Administration. Security now stops you at every checkpoint and you have to show your ID. Also, you cannot carry sharp objects onto the plane. You now have to take off your shoes and belt, and have them ran through a metal detector. Another key point is that passengers are not allowed to have liquids above 3. 4 ounces when going through the checkpoints. Special items such as laptops must be pulled out of the luggage. One of the most noticeable changes is the need to arrive at the airport early. The United Airlines website, for example, suggested airport arrival times include this recommendation for Los Angeles International: â€Å"Customers with checked baggage should arrive 2 hours before flight departure. † Due to the excessive wait at security, an early arrival is necessary. The airport security was not the only factor the United States enhanced, but the government as well also made changes. Due to the attacks, for this reason, the United States adopted the Patriot Act. The purpose of this act is to: deter and punish terrorist acts in the United States and around the world, enhance law enforcement investigatory tools, and for other purposes. There were also more than one hundred and thirty pieces of legislation introduced that related to the attacks during the first year. Such as: the Aviation and Transportation Security Act, the Enhanced Border Security, and Visa Entry Reform Act. To be sure to stop another tragedy happening, the government created agencies after the attacks that include the Department of Homeland Security, which consolidated other agencies, including the U. S. Immigration and Naturalization Service. The last significant change that the United States has faced since the attack is the psychological impact on how we Americans view immigrants. To put it another way, some Americans responded with fear, anger, as well as a growing intolerance for immigrants, especially against those who are or appeared to be from the Middle East. For this reason, many Muslims and Asians in the United States reported that they were the victims of harassment and hate crimes days after the attacks. In fact, some Muslims were shot and killed only because of their race. Not only were people shot, people were also targeting institutions that related with the Islamic faith. Mosques were attacked as well as other religious buildings, including a Hindu temple in St. Louis, Missouri. Anger and fear are not the only psychological consequences that we Americans have faced, but also posttraumatic stress disorder. According to figures from three New York City 9/11 health programs, at least 10,000 police officers, firefighters and civilians directly exposed to the World Trade Center attacks have been diagnosed with posttraumatic stress disorder. Twelve years later, we Americans are still impacted from this tragedy. We will always be emotionally distraught, nor we will ever get back the loved ones that have passed away in the tragic incidents. On the positive note, the government passed many regulations to make sure that there will never be a 9/11 repeat.

Richard Arkwright and the Water Frames Impact

Richard Arkwright and the Water Frame's Impact Richard Arkwright became one of the pivotal  figures in the Industrial Revolution when he  invented the spinning frame, later called the water frame, an invention for mechanically spinning thread. Early Life Richard Arkwright was born in Lancashire, England in 1732, the youngest of 13 children. He apprenticed with a barber and wigmaker. The apprenticeship led to his first career as a wigmaker, during which he collected hair to make wigs and developed a technique for dyeing the hair to make different-colored wigs.   The Spinning Frame In 1769 Arkwright patented the invention that made him rich, and his country an economic powerhouse: The spinning frame. The spinning frame was a device that could produce stronger threads for yarns. The first models were powered by waterwheels so the device came to be known as the water frame. It was the first powered, automatic, and continuous textile machine and enabled the move away from small home manufacturing towards factory production, kickstarting the Industrial Revolution. Arkwright built his first textile mill in Cromford, England in 1774. Richard Arkwright was a financial success, though he later lost his patent rights for the spinning frame, opening the door for a proliferation of textile mills. Arkwright died a rich man in 1792. Samuel Slater Samuel Slater (1768-1835)  became another key figure in the Industrial Revolution when he exported Arkwrights textile innovations to the Americas. On December 20, 1790, water-powered machinery for spinning and carding cotton was set in motion in Pawtucket, Rhode Island. Based on the designs of English inventor Richard Arkwright, a mill was built by Samuel Slater on the Blackstone River. The Slater mill was the first American factory to successfully produce cotton yarn with water-powered machines. Slater was a recent English immigrant who apprenticed Arkwrights partner, Jebediah Strutt. Samuel Slater had evaded British law against emigration of textile workers in order to seek his fortune in America. Considered the father of the United States textile industry, he eventually built several successful cotton mills in New England and established the town of Slatersville, Rhode Island.

Cultural differences in treating and diagnosing mental illnesses Term Paper

Cultural differences in treating and diagnosing mental illnesses - Term Paper Example 142-143). The candidate must separate from his people and adopt estranged behavior as if preparing for his own death. He reaches the point where he has adopted a different identity as if born again. But the habits he then picks up may find him living near cremation sites and even eating dead flesh. Such behavior, accepted in India or Nepal, would be seen as outside the norm in the United States or Europe. Anthropologists look across cultures to determine what is social conformity and how personalities are evaluated and accepted within its range. There may be forms of mental illness or disorder occurring across culture. This may well be the case of schizophrenia, which seems to appear in other cultures and represent individuals with extreme delusions. Such individuals may hear voices which others don't hear and then go into extreme isolation or withdrawal from the trust of others (Haviland et al, p. 150). As explained below, other cultures may even treat schizophrenia different than A merican and European cultures. One concept of mental illness in the United States addresses such illnesses as psychosomatic ailments. These ailments indicate illnesses rooted in the mind that may not have direct and or obvious physiological causes. In the Euramerican tradition these illnesses may be treated under the biomedicine system. This system is based on the dualistic mind-body theory rooted in Western philosophy and psychology. The biomedicine system has been seen as an effective one in America. It has resulted in a large pharmaceutical industry that has virtually developed medication for all kinds of mental illnesses. Yet other cultures may approach psychosomatic ailments differently, reflecting their own healing systems. Immigrants or people from other countries in European and North American societies may respond differently to the cultural pressures of their new lands. They may also respond differently to the medication issued under the biomedical system. Other lands and cultures may not have such theories dominated by a scientific mind body bias. They may respond more to, for example, certain spiritual beliefs of their own cultures. Anthropologists have been investigating some of these cross cultural differences and may help eventually integrate the concept of biomedical approaches in the West with workable approaches from other countries. Culture bound Syndromes Researchers and anthropologists have noted examples of ethnic psychoses appearing specific to certain cultures. Sometimes referred to as culture bound syndromes, these forms of psychoses denote mental disorders that appear bound to unique combinations of environmental settings and cultural practices. They are specific to particular ethnic or cultural groups. In several places in Southeast Asian and Africa, some men suffer from koro, a belief that their genital organs are retracting back into their bodies (Watters, 2010). The feeling is extreme enough that some patients feel they may die du e to possible causes of too much sex or masturbation (Haviland et al). Certain Algonquian Indians have demonstrated the malady of falling into a trancelike state inducing fear in others that they are cannibals. Different cultures across the world tend to have their own specific maladies that are usually related to narratives and stories of their own countries. However, in this present day of mass market communication

Samedaymay30Peer Response DQ1AB and DQ2KDw8 Essay

Samedaymay30Peer Response DQ1AB and DQ2KDw8 - Essay Example I also agree with your premise that accounting information is extremely important when making investment decisions such as when to buy or sell a common stock. One of the accounting techniques that can be used to evaluate common stocks is ratio analysis (Garrison & Noreen, 2003). You are also correct that financial projections are very useful when evaluating a company. The two companies you choose to discuss are great examples of companies in the food industry that have been very successful both domestically and internationally. Both these companies have outstanding brand value. Baskin Robins sells some of the most delicious ice cream in the world. Brand value helps companies increase its income over time (Kotler, 2003). Your response made me learn about the importance of the Sherman Antitrust Act and the Clayton Act. These laws are mechanisms that ensure companies that are bigger do not abuse their power with monopolistic activities. A few years ago the software giant Microsoft was accused of being a monopoly. I also agree with your comment that outsourcing has become more important in the business environment of the 21st century. There has been a tremendous growth in the outsourcing of technology. In Australia the technology outsourcing market reached $7.2 billion in 2011 (Smith,

Artifact Essay Example | Topics and Well Written Essays - 750 words

Artifact - Essay Example It starts out with the caucus in the house of Oedipus as the kingdom of Thebes is under a plague which has led the people to drought, hunger and suffering. The people are calling to the gods in fervent prayer that the kingdom does not suffer its downfall. Oedipus meets them to query on what they are doing and calms them as an answer to their prayers is soon to come. Hence he assures them and gives his promise that he will do everything to put an end to it. Creon utters what will be the solution from the gathered information and that is to punish the killer of Laius, the previous King whom Oedipus succeeded. This is where the plot thickens and the entanglements of their relationships unfold. Forewarned by a prophecy that a son born to Laius and Jocasta would slay his own father and marry his mother to father his very siblings, Laius ordered the death of his son upon its birth. Bound by the feet, thus Oedipus’ name, and abandoned in Mt. Cithaeron, the king had presumed that what had been foretold had been prevented. But the baby survived and was saved by the shepherd who found him in the mountain. Upon his delivery to Polybus of Corinth there had been an incident of another slurring in a banquet wherein he was jested as not being a true son of his recognized parents. Then he sought the truth from Apollo and was informed of the same prophecy already known to Laius and Jocasta â€Å"Woes, lamentations, mourning, portents dire; To wit I should defile my mother’s bed. And raise up seed too loathsome to behold. And slay the father from whose loins I sprang† (Sophocles trans. Storr, 1999/1912). Oediopus left Corinth in search of his destiny. On his journey he met a man who humiliated him. Contrary to the belief that Laius was killed by robbers, it was in Oedipus’ own hands that his life came to an end. Thereafter, he came to Thebes and was hailed for solving the riddle of the Sphinx and gained the love of the people who suffered therefrom. H e was made the king by the people and assumed himself in the position that was formerly belonging to Laius. This included everything from his riches down to his queen widowed by the former’s death. Under his rule, the kingdom of Thebes was in a prosperous state and flourished until the advent of the succeeding plague which haunted the king in search of its end. Oedipus was firm in ensuring the people that they are not to worry and that he will be able to put an end to the plague in the same way that he had previously done with the Sphinx. Driven by this promise, he sets out to find the culprit and initially blaming Creon as the mastermind in a plot to oust him from his throne. But what unfolded was something that was beyond his contemplation. His own history and the prophecy came together to reveal the biggest irony of his quest. Teiresias, the kingdom’s greatest oracle reveals the link between Laius and Oedipus. The king had been reluctant to accept the reality of the prophecy and to what it means in his identity. The blind prophet had been accused many things in his denial but was later vindicated by the inevitable truth that has been stabbing at Oedipus all along. Like many of the unwanted realities that men exert all effort to evade, the Greek hero was the same. But ultimately the truth shall prevail and that fate is inescapable though we may try hard to do so. There are voices of reason that should have

Effect of Enlightenment on Punishment

Effect of Enlightenment on Punishment Punishment is a concept which is open to many definitions in a sense that, when looking at crime and punishment, the definition depends purely on the place, culture and beliefs that an individual associates themselves with. When we look at crime and punishment in particular, the meaning behind punishment differs due to it being a concept that can be defined in many different ways, for instance, a â€Å"the legal process whereby violators of criminal law are condemned and sanctioned in accordance with specified legal categories and procedures† (Garland, 1990, p. 17) or in a more general sense â€Å"the act of inflicting a consequence or penalty on someone as a result of their wrong doing, or the consequence or penalty itself† (Your Dictionary, 2015). Throughout history we have seen a drastic change in not only the way that a criminal receives punishment, but also the environment in which the individual is placed, shifting from the general public humiliation and intense p hysical punishment to punishment of one’s personal ability to think and reason in a private sphere. Furthermore, this paper is going to look further at the movement of intense punishment of the body in the public eye to seeing how punishment has lessened over time by punishing the mind in a private environment, also critically analysing what it is that we consider to be ‘punishment’ today. Throughout the early eighteenth century, offenders were prone to incapacitation devices and corporal punishment such as stocks, the pillory, flogging, stretching, etc. which were located in a public space in an attempt to humiliate or deride the offender hoping to prevent future offending or re-offending (Miethe Lu, 2005). In saying that, these systems did not only apply to those criminals who went against societal norms but they also applied to individuals or groups of people who did not follow the law properly in terms of religion. Classen (2012), mentioned that throughout the Middle Ages, it was known as the period that was filled with law-breaking criminals, violence, blood feuds, anarchy, vengeance and also exposing the people to groups of criminals such as gangs and murderers. In saying that, due to the shortage of surveillance and technology in this period of time, this meant that innocent people were more likely to be punished if there were no eye witnesses present at the ti me of the â€Å"crime†. Knowing that there was a lack of surveillance and technology meant that an innocent individual were more likely to be punished for a crime that they did not commit. Furthermore, when looking at the huge impact that violence had on this time period and combining it with the understanding that the law was not systematized, this could have welcomed not only the opportunity to use public corporal punishment in assorted ways but also punish an individual tyrannically no matter how severe the crime is (White, Haines, Asquith, 2012). As we begun to approach the eighteenth century, we not only saw the rise into the Enlightenment era, but we also begun see some movement in terms of punishment where it focussed on independence, reason and logic over tradition. Not to mention, that this was the time period in which we saw the arrival of Classical Criminology, which then gave the view that criminals were considered to be rational thinkers who committed an offence of their own accord. However, the main key here is that this idea saw punishment as being prompt and corresponding to the offence that was committed. Classical theorists created a starting point in terms of authority systems which contradicts tyrannical punishment by offering other ways in which they can punish an offender through non-violent means. One major example of this would be from that of Michel Foucault, who further developed Jeremy Bentham’s concept of the Panoptican. The make of the panoptican is seen as a circular structure which contains a surveillance tower which contains prison cells around it. In saying that, the main reason behind this panoptican was to try and prevent the occurrence of bad behaviour by presenting prisoners with the delusion that they are put under surveillance watch 24/7. Even though the inmate knows that they are constantly being watched, they still do not know when it is exactly that the guards are watching them. This ends up leading to why this model was created, to increase good behaviour (Foucault, 1977). In addition, it is evident that a plan set up to shift public corporal punishment to the mind and the private sphere through using Bentham’s notion of the panoptican model as one of the many alternatives, although, this then meant that inmates freedom was taken from them by punishing offenders through the introduction to prison. That being said, the delusion that inmates are being watched constantly could possibly considered to be a move toward the punishment of the mind in a way th at the prisoner knows that they are on watch 24/7, perhaps resulting in mental health issues, an example of this is paranoia. Furthermore, notions that were put forward throughout the Enlightenment era have been developed and are the reason as to why there is a huge emphasis on alternative punishment instead of corporal today’s society. Throughout the Enlightenment era, the work that was proposed by many theorists has had a huge impact on punishment that is seen in more modern societies. When looking back to the traditional way in terms of punishment and how much of an emphasis there was on the punishment of the body in the public eye and comparing it to the alternative ideas of punishment that had appeared throughout the Enlightenment period, this has introduced brand new and more effective notions which transform from punishments of the body to the punishment of the mind. In addition, this is evident in today’s societies with the increase in the number of offenders who are being sentenced to prison, illustrating the shift where instead of forcing pain on the body, it is instead inflicted on the mind through not only restricting an inmate’s rights and independence but also restricting them from coming into contact with the public. This idea is visible in combination with other forms of punishment that are exercised inside and outside of the prison. One of the many alternative ideas that are exercised in the prison is that of solitary confinement which is also known as an individual who is prohibited from coming in to contact with anyone outside apart from prison staff where one may be prone to conditions where they are sent to windowless or close-confined rooms. In addition, exercising this practice by depriving an inmate of contact with the outside world can potentially create mental health issues for this individual such as emotional damage, a breakdown in terms of language development and in a more severe case, it could possibly make an inmate hallucinate or become deluded. Solitary confinement is one of many practices which show that the change from the public corporal punishment to the mind in the private sphere is evident in contemporary societies. One can argue that the movement from public corporal punishment to an individual’s mental thinking in a private space has not changed and this can be seen in many modern societies where there are many faults in the system of punishment. Though the system is encouraged to punish an offender in a non-violent way, there are a lot of defects present in today’s society that negate the idea of punishment of one’s mind in a private location. This can be seen in the way in which the environment that an offender is sentenced to. In addition, whilst an offender is sent to prison, it may not be seen as â€Å"non-violent†, however, the conditions inside that environment may be the exact opposite. An example of this can be seen in movies like Shawshank Redemption, when the offender (Andy Dufresne) became exposed to violence and many other horrific acts, not to mention that he also became a target for other prisoners which, he then had no choice but to defend himself in order to survive. This goes to show that the environment in which an individual is exposed to in the prison, can force those who are non-violent to turn to violence in an attempt to defend oneself from the chance of being attacked. Therefore transforming a non-violent offender into a violent one (Gilligan, 2001). Moreover, in terms of what has been said, the real question that we must ask ourselves is what is actually counted as punishment? Is it the sentence that has been given or is it also the conditions that one receives inside the prison? Another defect that is seen in terms of the shift from punishment of the body to the mind is shown where, although capital punishment is known as pain forced on to the body through violent means, there is another way in which punishment may not be necessarily considered to be corporal but it is, it is just that the way in which they are dealt with are done through non-violent means. One example can be seen where an offender is designated a hard labour job (as seen in the 1800’s and still present today) for example, the treadwheel, building roads and stone breaking where although it may not be seen as physical pain inflicted to the body, as time goes on, it will show as the inmate gets older and their body slowly starts to break down (Scarre, 2003). A second example is seen where prisoners are also deprived of the necessities in life such as a clean environments and good nutrition. Although, this may not be seen as direct pain to the body, it does affect the individual in a way that eating choices and food preferences and food intake are limited whilst in prison. Not only does this limit the prisoner of the health and nutrition that is required to help them make it through the day but also it could expose the prisoner to problems in terms of the kitchen staff such as the concern of cooking standards, hygiene and illnesses. As mentioned by Smith (2002), majority of women that she had interviewed in prison were concerned about the effects that the food would have on them such as weight loss and gain, diarrhoea, vomiting and constipation. Again, this may not be considered as corporal punishment, but it still punishes the body in terms of health. Furthermore, we again have to question whether the sentence is the punishment or is it also the conditions that come with it. It can also be argued that there has not been a complete shift in terms of the punishment in the eye of the public to the private sphere. When looking at the history of punishment and comparing it to contemporary society, punishment is nowhere near is public as it used to be. However, punishment is still visible to the public. An example of this is seen in community service workers where they â€Å"serve their sentence in the community rather than in the prison† (Department of Corrections, 2015). This means that an individual is exposed to the community, knowing that the public know that they are on probation and they are not doing it voluntarily. This is seen in New Zealand where community service workers are put in front of public places. It is easy to distinguish community service workers from your average worker as they usually work in groups doing hard labour jobs but the main thing that gives it away is the clothing, usually you will notice that there is a strip on the b ack of their clothing mentioning â€Å"community service†. Another flaw that contradicts the idea that punishment has moved from bodily punishments in front of the public eye to the private sphere is seen within the court system. What is meant by that is, the courts are the main place in which sentences are usually given to criminals and also a location where the community are welcome to observe the sentence that is being given to a criminal. Moreover, this is the case in New Zealand where the public are able to, in a sense, contribute insofar by observing the punishment that is handed to an offender, bearing in mind that there are some cases in which the public are unable to view (Courts of New Zealand, 2015). In saying that, this just goes to show that in terms of punishment, although it may not physical, public humiliation is still present in modern societies but to an extent when comparing it to the eighteenth century. Social media and the media in general allows for punishment to become visible by allowing the public to gain access to it by using several mediums such as the radio, the internet through live streaming or looking at online news articles, television programmes, such as the crime investigation channel or by simply watching the news. Not only does this illustrate that punishment is accessible to members of the public but it also allows them to become more knowledgeable by being exposed to crime and punishment through what is used by individuals daily. Although the public may not observe the punishment that is given to an offender, they are given the opportunity to get up to date through news reports, articles or even if they are lucky, through a photo which is then taken of the individual receiving the sentence. In addition, we must keep in mind that reporters look in particular for crimes that are more gruesome or crimes that they know would be of public interest so they are more like ly to exaggerate the crimes to get more of a following from the public (Bradley Walters, 2011). Furthermore, these examples show that punishment in the public eye is still present in today’s society but not as bad as it was in the past. However, when looking at this example in particular, it shows the power that reporters have over people not only in terms of making punishment and crime visible to the public but also the way in which they can distort the crimes knowing that they will keep the public interested. In conclusion, this essay has shown how the enlightenment era has had a major impact on the practices that are seen in terms of punishment today. In addition, it has also looked at how punishment has altered over time and periods where the intensity of punishment has lessened by shifting from the traditional corporal punishment and public humiliation to a more modern shift of punishment of the mind and in the private sphere looking more at taking away an offenders rights and freedom. However, even though the shift of bodily punishments in front of a general public setting to the punishment of an individual’s mind in more of a private location is present in modern societies, it is still seen in some cases that this may not be true as mentioned in the examples given above. The question that still stands in my essay is in today’s society, has there really been a shift from public capital punishment to private punishment of the mind. Bibliography Bradley, T., Walters, R. (2011). Introduction to criminological thought. Auckland: Pearson. Classen, A. (2012). Crime and Violence in the Middle Ages: The Cases of Heinrich der Glicheares Reinhard Fuchs and Wernher der Gartaneres Helmbricht. In A. Classen, C. Scarborough (Eds.), Crime and Punishment in the Middle Ages and Early Modern Age (pp. 131-158). Berlin, Germany: Walter de Gruyter. Courts of New Zealand. (2015, April 03). The Role of the Courts. Retrieved from Courts of New Zealand: https://www.courtsofnz.govt.nz/about/system/role/overview Department of Corrections. (2015, April 02). In the Community. Retrieved from Department of Corrections: http://www.corrections.govt.nz/working_with_offenders/community_sentences.html Foucault, M. (1977). Discipline and Punish: The Birth of Prison. (A. Sheridan, Trans.) London: Penguin. Garland, D. (1990). Punishment and Modern Society. Oxford, England: Oxford University Press. Gilligan, J. (2001). Preventing Violence. London: James Hudson, Ltd. Miethe, T., Lu, H. (2005). Punishment: A comparative Historical Perspective. Cambridge: Cambridge University Press. Scarre, G. (2003). Corporal Punishment. Ethical Theory and Moral Practice, 6(3), 295-316. Smith, C. (2002). Punishment and Pleasure: Women, Food and the Imprisoned 1. The Sociological Review, 50(2), 197-214. White, R., Haines, F., Asquith, N. (2012). Classical Theory. In R. White, F. Haines, N. Asquith , Crime Criminology (pp. 23-41). Sydney: Oxford University Press. Your Dictionary. (2015, April 02). Punishment. Retrieved from Your Dictionary: http://www.yourdictionary.com/punishment

Type 1 Diabetes (Juvenile Diabetes) Essay -- Disease/Disorders

Type 1 diabetes, is an incurable but treatable disease which can occur at any age but is mostly found in children due to the high levels of glucose in the blood (Eckman 2011). Juvenile diabetes affects about 1 in every 400-600 children and more than 13,000 are diagnosed yearly (Couch 2008). Type 1 Diabetes means your blood glucose, or blood sugar, is too high. With Type 1 diabetes, your pancreas does not make insulin. Insulin is a hormone, which helps glucose gets into your cells to provide energy. Without insulin, too much glucose stays in your blood. Over time, high blood glucose can lead to serious problems with your heart, eyes, kidneys, nerves, gums and teeth (American Diabetes Association). Previous research has suggested proper insulin management, a balanced diet and exercise will help maintain glycemic control and lessen the chance of complications (Couch 2008). Symptoms are an indication of something being wrong. In the case of discovering juvenile diabetes, some symptoms include but are not limited to, being extremely thirsty, frequent urination, often feeling tired and or hungry. Some may experience unexplained weight loss, the delay of sores healing properly, dry and itchy skin may also occur. Others have had a feeling of tingling in their feet and even having blurred vision. The symptoms listed may be the first sign of type 1 diabetes, or may occur when the sugar is high. (Eckman 2011). Warning signs in other cases may be an indication of very high glucose levels, though the symptoms may vary in different people, the possibilities of individuals experiencing the same symptoms are likely. Following are some symptoms encountered by children whose blood sugar is very high. Deep, rapid breathing may take place, their ... ...etes. Bethesda, MD.: National Institutes of Health, Dept. Of Health and Human Services. Neithercott, T. (Jan. 2012). Continuous Glucose Monitors. Diabetes Forecast, 65(1) 44-6. Magazine. Retrieved from ProQuest Research Library. Neu, A; Hofer, S.E., MD; Karges, Beate; Oeverink, Rudolf; Rosenbauer, J; Holl, R.W., MD. (Sept. 2009). Ketoacidosis at Diabetes Onset Is Still Frequent in Children and Adolescents: A multicenter analysis of 14,664 patients from 106 institutions. Diabetes Care, 32(9) 1647-8. Scholarly Journals. Retrieved from ProQuest Research Library. United States. (2011). Type 1 Diabetes Research: Real Progress and Real Hope for a Cure. Hearing Before the Committee on Homeland Security and Government Affairs, United States Senate, of the One Hundred Eleventh Congress, First Session, June 24, 2009. Washington, DC: Washington: U.S. G.P.O., 2011

Anwar Sadats Domestic and Foreign Policies were from 1970 to 1981 Essay

The ‘Hero of the Crossing’, Anwar Sadat undoubtedly bought pride and peace to his fellow Egyptians after the rule of Nasser’s defeat and humiliation to his socialist country. His pragmatic view on the way Egypt should be ruled bought him success and failures in both the foreign and domestic policies, despite his premature death in 1981. Some saw the ‘heroic face’ of Egypt as a traitor to Pan Arabism and all that the surviving Nasserites fought for. But it cannot be denied that he placed Egypt’s foot firmly through the door of peace with the area surrounding them and internationally through his spectacular, radical commitments to making peace with Israel, following the legendary Camp David accords. Firstly, Sadat’s main aim with his foreign policies was to gain permanent peace with Israel, and on the 17th September 1978, he set it in stone at Camp David. On this date, Sadat took a bold, historic step towards peace with Israel – one which turned the back on the period of Pan Arabism that went before him it marked the beginning of the Middle East peace process, one which still holes peace between the two nations today, far beyond his reign. Sadat wanted to gain permanent peace with Israel to cut military costs and therefore boost their economy. Although Camp David had seen a momentous agreement between two very different nations, with a background of war and unrest, relations with other Arab states had detiriated. Sadat knew that bringing Palestinian problems to the table at Camp David would make Israel less likely to promise any sort of peace deal. Therefore, many states in the Middle East didn’t look too kindly upon Sadat due to the feeling of Pan Arabism, thinking he was ‘back-stabbing’ the theory. But, looking back at the concept around that time, it was relatively dead as it was fundamentally unrealistic due to the greed and selfishness still apparent in each nation. Consequently, Sadat’s peace aims were successful and the argument with the Middle East would have expired by the Camp David accords. Sadat was also the first Arab leader to enter into Jerusalem to talk about peace deals with the country. As the first person to enter into the Holy Land, he lost a lot of followers also, but his pragmatic ways taught him that making peace with Israel would cut down military costs tremendously as they would never have a war in the near future. It is clear to see that the extended effort that Sadat put into making strong bonds with Israel at the time did pay off as to this day there has been no unrest between the two countries to the current day, showing that his aim to gain permanent peace with Israel was met and he was extremely successful as later on he received a Nobel Peace Prize as being recognised internationally as making troubles end in the Middle East, troubles which Sadat thought were unnecessary. The second aim of Sadat was to improve the economic state of his country through gaining strong relations with the US and losing links with the USSR. He had to get out of Nasser’s shadow and gain independence for his country. He was very forward- thinking compared to the previous leader. He wanted to boost the economy in Egypt and he was looking towards the West for the helping hand with his domestic problem. Firstly, he expelled his Soviet advisors in 1972, which received high praise from the West. He knew that with the US’s greatest enemy out of the country, and then they would be prepared to help them out financially. His gamble finally paid off for Sadat as they eventually became one of the largest recipitants of foreign aid from the US. Sadat’s’ country could finally have private investment from the biggest nation of the world and therefore be at the foreground in the Middle East that no other country would wish to fight as they had such strong help. These investments also led to greater links with Israel as the US were both their allies now and therefore there would be no need to go to war and spend surplus amounts of their money on the military. Sadat’s domestic policy for the economy also introduced large changes to the country as he tried to step out of Nasser’s shadow once again. Sadat’s mind-set was completely different to that of Nasser, as he strived for private foreign investment and controlling inflation through fixing prices. This meant that Sadat could be sure there would be no higher wage demands and that the economy was more predictable, liberalising Egypt’s economy for the better, or so he thought. In the last years of his reign, there were a series of ‘Bread Riots’ protesting against his economic liberalisation, through the public out roar to Sadat’s lifting of prices led to his government having to take control of the prices – reversing themselves. Sadat’s economic domestic policy was very unpopular with the majority of the public – especially the Nasserites. Although there was a lot of public unrest at the time, the rich Egyptians were in favour as they were benefitting from his rule. They lapped up the foreign investment as the lack of control on basics such as bread did not affect them as much. US investment as well made lives for the rich under Sadat’s rule very good, but there was left beneath them a very widening gap between them and the poor. It cannot be disagreed that Sadat was not a large change in the regular leadership style of the Arab states in the Middle East. The greed, Pan Arabism and selfishness were not apparent in the leader as he strived for peace with Israel and other countries, boosting the economy and making greater links with the western world – all things which were unheard of in the Middle East at the time. Many people did not follow his new way of thinking, the pragmatic style did not agree with them, or was it that perhaps they were not ready for him? And that Nasser had such a large influence on the country that they were indoctrinated in a singular way of thinking, with no room left for different out looks on leadership. Evidence suggests that Sadat was not a failure, he just followed someone with such a great sway on the country that he could not lead without riots and rebellions as they did not want change. The ‘Hero of the Crossing’ was a great leader with the interests of Egypt at heart, and if only his life wasn’t cut tragically short, there could have been plenty more he could have done for the area as a whole. Â  

The New Age After The 1500s Essays - Early Modern Scotland

The New Age After The 1500s Essays - Early Modern Scotland The New Age After the 1500s After 1500 there were many signs that a new age of world history was beginning, for example the discovery of America and the first European enterprises in Asia. This "new age" was dominated by the astonishing success of one civilization among many, that of Europe. There was more and more continuous interconnection between events in all countries, but it is to be explained by European efforts. Europeans eventually became "masters of the globe" and they used their mastery to make the world one. That resulted in a unity of world history that can be detected until today. Politics, empire-building, and military expansion were only a tiny part of what was going on. Besides the economic integration of the globe there was a much more important process going on: The spreading of assumptions and ideas. The result was to be "One World." The age of independent civilizations has come to a close. The history of the centuries since 1500 can be described as a series of wars and violent struggles. Obviously men in different countries did not like another much more than their predecessors did. However, they were much more alike than their ancestors were, which was an outcome of what we now call modernization. One could also say that the world was Europeanized, for modernization was a matter of ideas and techniques which have an European origin. It was with the modernization of Europe that the unification of world history began. A great change in Europe was the starting-point of modern history. There was a continuing economic predominance of agriculture. Agricultural progress increasingly took two main forms: Orientation towards the market, and technical innovation. They were interconnected. A large population in the neighborhood meant a market and therefore an incentive. Even in the fifteenth century the inhabitants of so called ?low countries? were already leaders in the techniques of intensive cultivation. Better drainage opened the way to better pasture and to a larger animal population. Agricultural improvement favored the reorganization of land in bigger farms, the reduction of the number of small holders, the employment of wage labor, and high capital investment in buildings, drainage and machinery. In the late sixteenth century one response to the pressure of expanding population upon slowly growing resources had been the promoting of emigration. By 1800, Europeans had made a large contribution to the peopling of new lands overseas. It was already discernible in the sixteenth century when there began the long expansion of world commerce which was to last until 1930. It started by carrying further the shift of economic gravity from southern to north-western Europe, from the Mediterranean to the Atlantic, which has already been remarked. One contribution to this was made by political troubles and wars such as ruined Italy in the early sixteenth century. The great commercial success story of the sixteenth century was Antwerp's, though it collapsed after a few decades in political and economic disaster. In the seventeenth century Amsterdam and London surpassed it. In each case an important trade based on a well-populated hinterland provided profits for diversification into manufacturing industry, services, and banking. The Bank of Amsterdam and The Bank of England were already international economic forces in the in the seventeenth century. About them clustered other banks and merchant houses undertaking operations of credit and finance. Interest rates came down and the bill of exchange, a medieval invention, underwent an enormous extension of use and became the primary financial instrument of international trade. This was the beginning of the increasing use of paper, instead of bullion. In the eighteenth century came the first European paper currencies and the invention of the check. Joint stock companies generated another form of negotiable security, their own shares. Quotation of these in London coffee-houses in the seventeenth century was overtaken by the foundation of the London Stock Exchange. By 1800 similar institutions existed in many other countries. It was also the time of some spectacular disastrous investment projects, one of which was the great English South Sea Bubble. But all the time the world was growing more commercial, more used to the idea of employing money to make money, and was supplying itself with

Slavery in the Southern States essays

Slavery in the Southern States essays In early America, the southern states quickly realized that crops such as tobacco and cotton were very much in demand. The land and climate were excellent for the growth of these crops and slave labor was perfectly suited for the jobs. Most importantly to the growers, slave labor was very cheap. The planters invested in slaves rather than machinery to increase production. Slavery originated from a concept known as indentured servitude. One half to two-thirds of all immigrants to Colonial America arrived as indentured servants. At times, as many as 75% of the population of some colonies were under terms of the indenture. Even on the frontier, according to the 1790 U.S. Census, 6% of the Kentucky population was indentured. The historic basis for indenture grew out of English agricultural servitude and began because of labor shortages in England and the colonies. It developed at a time when England had a great number of people being displaced from farming. This led to the early growth of the indentured labor system. The importation of white servants under contracts known as indentures proved more profitable as a short-term labor source than enslaving Indians or using free labor. Eventually, the final attempt to ease labor shortages was enslavement of Africans. A labor-intensive cash crop such as tobacco required a large workforce. The earliest indentured servants were brought to Virginia as farm laborers. In practice, the servant would sell himself to an agent or ship captain before leaving the British Isles. In turn, the contract would be sold to a buyer in the colonies to recover the cost of the passage. In theory, the person is only selling his or her labor. In practice, however, indentured servants were slaves, and the courts enforced the laws that made it so. The treatment of the servant was harsh and often brutal. Colonial laws punished runaway indentured servants with severity. The government initially soug...

Modern day Rip Van Winkle Essay Example | Topics and Well Written Essays - 250 words

Modern day Rip Van Winkle - Essay Example His only work was to ride his bike and wander hither and thither with a can of beer and a hobo bag carrying teddy bears and milk chocolates for kids. Troubled by the escaping tendency of Rip, his wife Dame presented him one satellite phone so that she could easily get hold of her husband. One autumn afternoon Rip along with his dog head towards the mountains to escape the irresistible nagging of his wife. There he discovers something very unconventional and out of place. He found someone calling him with his name and discovers some weird men who are dressed like robots and are silently playing saxophone. They were drinking strong beer and were completely silent. Rip felt a bit awkward and he discovered the noises which were coming out of the abandoned theatre up in the hills. It will always seem very awkward for a man to discover that some suspicious characters completely unknown, knew Rip’s name. But as usual Rip was least interested on the fact and took more interest in thei r liquor. After drinking few cans of liquor, Rip falls asleep. He wakes up one morning and finds that the place where he is sleeping is unknown to him. He found himself on the foot path and as soon as he stood up on the foot, it started moving.

Fashion and style in United States Essay Example | Topics and Well Written Essays - 1500 words

Fashion and style in United States - Essay Example The essay "Fashion and style in United States" explores the style and trends of fashion in the United States. The United States of America experienced varied trends in fashion over the years. In the twentieth century, the United States of America accepted African American rights as resettled into a mostly Caucasian culture, mixing the two cultures which affected fashion and the Afro got seen in mainstream America in the latter 1960s. For example, James Brown influenced afro to be a fashion statement by recording the song â€Å"Say It Loud-Am Black and Am Proud†. This got reinforced by its use in the novel and film The Commitments used statements of James Brown song in 1987 . Film and novel are forms of media that disseminate fashion. Media an especially magazine such as Flaunt portrayed American standard of life has being exceptionally high, therefore, leading the world in life and style. Many people in other countries who lead magazines and watched American films tried to cop y those fashions. American magazines and films in other countries contributed to fashion development . This has happened and happens now through; films, news and radio that have taken the influence of American culture and fashion to other regions of the world. The books and websites referenced in this essay give a clear insight into the media’s role in fashion. However, it is the printed and visual media that chronicled and advertised the changes in trends and fashions. Therefore, they must be held responsible for its dissemination. of  fashion  through America and elsewhere6.  Every decade saw  new  changes in trends of  fashion  in the United States of America. The style and  fashion  changes significantly affected the lifestyles people. The media, for example,  film  changes people’s thoughts, their talks, their behavior and  fashion  changed. For instance, The Commitments film made many African Americans  maintain  the Afro hairstyle7. Many people after the World War II lived in the United States  hence  acquiring the  fashion  and  culture. The media were the first to ensure that people got the information about  culture  and  style8. Media Media is a  broad  name for a system of tools that  are used  to communicate ideas and information over vast distances. Media can be used to  disseminate  fashion ideas and information over to many people at once. Magazine publications and films  are distributed  over large geographical locations, therefore, reaching many people at once. There are two broad classifications of media these are broadcast and print media. In broadcast media information  is transmitted  electronically, for example, in radio, television and film. Print media  alternatively  uses  physical  method  like a  newspaper  to  transmit  information. For instance, an individual may  hand  out leaflets (printed media), therefore; a few people  seeà ‚  the  information. Another person may also  put  up billboards across America so that many people see (more effective  mass  media). Media can be also be classified into  print, digital and photography. Photography spreads information in

Human Rights in Saudi Arabia and its Representation in the Media Research Paper

Human Rights in Saudi Arabia and its Representation in the Media - Research Paper Example What is meant by this statement that the understanding of human rights within the Western world is something of a public relations game relates to the fact that the nations in which the West regularly integrates and has close business/economic interests are relatively unbothered by human rights complaints from the outside world. In such a way, the sad reality of the situation is that many nations within the Western and/or developed world have the unique opportunity to bring about societal and systemic change within nations that exhibit a very poor track record of human rights. However, rather than leveraging their respective positions as a means of bettering the lives of individuals the world over, oftentimes these nations choose instead to continue the beneficial relationships they have with oppressive and repressive regimes. ... In such a way, the author will attempt to analyze the current situation with regards to human rights and Saudi Arabia; analyzing the way in which human rights is portrayed in the media, both domestic Saudi media and world media, discuss the issue of censorship within Saudi Arabia, and analyze the means by which alternative media/social media has allowed the Saudi individuals, and those arguing for a greater degree of human rights liberalization, a platform in which to adequately have their message the past. Furthermore, as a function of analyzing each of these aspects, it is the hope of this author that reader will come to a more full and complete understanding of the way in which human rights are currently exhibited within Saudi Arabia as well as the means by which individuals within and without Saudi Arabia understand these can rights, and the level to which the Kingdom of Saudi Arabia is willing to go in order to respond to the unique needs that are being exhibited within the King dom. Before delving directly into specific human rights abuses that Saudi Arabia is guilty of, it must be understood that Sharia law defines the way in which the nation’s judiciary operates. Ultimately, appreciating an understanding of the nuances of Sharia law would require a dissertation length response. However, for purposes of this brief analysis, it can and should be understood that Sharia law most necessarily refers to the law that is lain out in the Koran; Islam’s most holy book. Moreover, due to the fact that the Kingdom of Saudi Arabia does not have a Constitution, the rights and privileges to which the accused is beholden is necessarily solely defined within the Koran.

The Casebook of Sherlock Holmes Essay Example for Free

The Casebook of Sherlock Holmes Essay The Casebook of Sherlock Holmes is a collection of twelve short stories written by Sir Arthur Conan Doyle and published in 1927, three years before his death. They are the last stories recounting the adventures of the brilliant, enigmatic detective, Sherlock Holmes and his friend Dr, Watson. Extremely popular in Victorian and Edwardian England, these crime mysteries have remained popular throughout successive generations and Sherlock Holmes himself is perhaps the most famous of all fictional detectives. In total, Conan Doyle wrote four novels and fifty- six short stories featuring Sherlock Holmes, beginning in 1887 with his short story, A Study in Scarlet. He went on to write: The Sign of Four, The Adventures of Sherlock Holmes, The Memoirs of Sherlock Holmes, The Hound of the Baskervilles, The Return of Sherlock Holmes, The Valley of Fear and His Last Bow. Desperate to concentrate on more serious work, Conan Doyle had attempted to kill off Holmes in The Final Problem, but had revived him in 1904 with The Return of Sherlock Holmes and again in The Casebook of Sherlock Holmes, so great was the Victorian publics desire to read more stories about Holmes with his cold, scientific approach to crime solving. The setting is Victorian England, primarily Victorian London and Holmess address of 221B Baker Street. The dialogue is formal, as Holmes mixes with the upper strata of society. The descriptions are vivid and detailed, often using metaphor or simile: A red-veined nose jutted out like a vultures head and two fierce grey eyes glared at me from under tufted brows (The Blanched Soldier) The first story is that of The Illustrious Client. Baron Adelbert Gruner was a cunning devil, who was planning to marry Violet De Merville, daughter of General De Merville. The illustrious client asks for Holmes to help prevent the marriage taking place. In his attempt to do so, he suffers a monstrous attack by Gruner. But, in the end, the handsome Gruner is horrendously disfigured and the truth of his wickedness disclosed. Watsons account of the attack is particularly harrowing: The vitriol was eating into it everywhere and dripping from the ears and chin The features, which I had admired a few minutes before were now like some beautiful painting over which the artist had passed a wet foul sponge. The passage vividly and grotesquely describes the transformation from beauty to monster. Gruner becomes physically the monster he is mentally. In The Blanched Soldier, James Dodd employs Holmes to find the whereabouts of his friend and former comrade, Godfrey Emsworth, with whom he had served in the Boer War. It is Holmes, and not Watson who, for once, tells the story of how by analysis and deduction, he locates the soldier: That process, said I [Holmes] starts upon the supposition that when you have eliminated all which is impossible, then what remains, however improbable, must be the truth Hence, the ghostly face at the window is actually the real Emsworth, protected by his parents, because of his suspected leprosy, which fortunately turns out to be only pseudo-leprosy or ichtbyosis. It is suggested that fear alone may have produced the white blotches his mental state had altered his physical state. It is the above process that defines Sherlock Holmess method of detection by deduction and is the forerunner of todays forensic science. The method of deduction stems directly from Doyles own experiences as a student under surgeon who employed similar techniques for diagnosis. So, Sherlock Holmes is the main protagonist in this, at times disturbing, selection of stories. He is the clear- headed, analytical detective; interested only in the cold facts of the case, however minor they seem. Hence, he wanted to know what newspaper was being read by the little man in the house in the grounds of Tetbury Old Park. He is always remarkably observant and objective. Watson, his friend, is very different and a more sympathetic character. But all the characters are believable, colourful and interesting within the settings of the stories. Unfortunately, the stories were difficult to actually become interested in, due to the slow start, which did not inspire me to continue reading. Initially I found the formal style of writing and the language somewhat difficult. Also, some are rather too grisly, but this obviously appealed to the Victorian mentality willing to be thrilled by the very worst crimes and intrigues. Undoubtedly, they are great crime mysteries and I did enjoy them.

The Objective Of Financial Reporting And Qualitative Characteristics And Constraints Accounting Essay

The Objective Of Financial Reporting And Qualitative Characteristics And Constraints Accounting Essay 1 Introduction The U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), namely the Boards, jointly published a Discussion Paper and received 179 responses. The Exposure Draft was created from the Boards redeliberations regarding issues being raised by respondents. The Boards published this common Exposure Draft for the public to comment and it is the Boards broader conceptual framework. The Boards are considering their frameworks: to provide standards that are consistent, converge their standards, to develop a general and enhanced conceptual framework. The Boards decided that a reconsideration of concepts would not be efficient because many aspects of the frameworks are consistent and do not need fundamental revision. The Boards are focused on improving and converging their existing frameworks. The conceptual framework for financial reporting established by the Board displays the concepts that underlie financial reporting. This conceptual framework consists of 2 chapters: the objective of financial reporting and qualitative characteristics and constraints of decision useful financial reporting information useful financial reporting information. 2 Chapter 1: The Objective of Financial Reporting This conceptual framework establishes the objective of general purpose financial reporting by business entities in the private sector, which is the foundation of the framework. The objective of general purpose financial reporting is to provide financial information to current capital provides to make decisions. This information might also be useful to users who are not capital providers. The general purpose financial reporting develops superior reporting standards to help in the efficient functioning of economies and the efficient allocation of resources in capital markets. General purpose financial reporting focuses on an extensive range of users needs that lack the ability to obtain financial information needed from the entity. It should be broad enough to comprehend information for the various users. Therefore, the financial report is where they depend on to acquire information. Diverse users may require different information which might go beyond the scope of general purpose financial reporting. The financial reports are prepared from the entitys perspective (deemed to have substance on its own, spate from that of its owners), instead of the entitys capital providers. An entity attains economic resources (its assets) from capital providers in exchange for claims to those resources (its liabilities and equity). Capital providers include Equity investors Equity investors normally invest economic resources in an entity expecting to receive a return on, as well as a return of, the resources invested in. Hence, equity investors are concerned with the amount, timing, uncertainty of an entitys future cash flows and the entitys competence in generating those cash flows which affects the prices of their equity interests. Furthermore, they are concerned with the performance of directors and management of the entity in discharging their responsibility to make efficient and profitable use of the assets invested. Lenders Lenders usually expect to receive a return in the form of interest, repayments of borrowings, and increases in the prices of debt securities. Lenders have similar interests as the equity investors. Other creditors Other creditors provide resources because of their relationship with the entity, instead of a capital provider; no primary relationship. Employee salary or compensation Suppliers extended credit Customer prepay for goods and services Managers responsible for preparing financial reports Capital providers make decisions through useful information provided in financial reporting by particular entity. Financial reporting usefulness in assessing cash flow prospects depends on the entitys current cash resources and the ability to generate sufficient cash to reimburse its capital providers. Besides, financial reporting usefulness in assessing stewardship includes the managements responsibilities to protect the entitys economic resources (assets) from unfavourable effects. Management is also liable for safeguarding the assets of the entity which conforms to the laws, regulations and contractual provisions; thus, the importance of managements performance in the decision usefulness. The general purpose financial reporting is limited to information which does not reflect pertinent information from other sources that should be considered by the users. Financial reporting information is based on estimates, judgements, and models of the financial effects on an entity of transactions and other events in which, is only ideal for preparers and standard setters to strive. Achieving the frameworks vision of ideal financial reporting to the fullest will be difficult in the short term because of technical infeasibility and cost constrains. Financial reporting should include information about: the economic resources of an entity (assets), the claims of the entity are (liabilities and equity), the effects of transaction and any events or circumstances that can affect the entitys resources and claims and provide useful information about the ability of entity to generate its cash flow and how well the entity meets its management responsibilities. The usefulness of financial reporting to the users: Provide useful information about the amount, timing, and uncertainty of future cash flow To identify the entitys financial strengths and weaknesses (especially for capital providers) To indicate the potential of entitys cash flow for its economic resources and claims To identify the effectiveness of the entitys management responsibilities To assess availabilities of the entitys nature and quantity of the resources for the use in its operation To estimate the values of the entity. The quantitative measures and other information regarding the changes in entitys economics resources and claims in the financial report can help the users to assess the amount, timing, and uncertainty of its cash flow; and indicate the effectiveness of management responsibilities. Furthermore, the entity must provide a positive return on its economic resources in order to generate net cash inflows; and return the earning to its investors. Other information like variability of returns, past financial performance, and managements ability can be used to assess the entitys future financial performance. The information regarding the accrual accounting in financial reporting can better provide the users to assess the entitys past financial performance and future prospects in generating net cash inflows without obtaining additional capital from its investors. The entitys cash flow performance in financial reporting assist the investors to understand the entitys business model and operation through assessing how the entity obtains and spends cash. Information about its borrowing, repayment of borrowing, cash dividends and other distribution to investors, as well as the factors of entitys liquidity and solvency, can also assist the investors to determine the entitys cash flow accounting. Besides, information about the changes of entitys resources and claims not resulting from financial performance may assist the investors to differentiate the changes that are results of the entitys financial performance and those that are not. The information of management explanation should be included in financial reporting to assist users for a better understanding about management decision in any events and circumstances that have affected or may affect the entitys financial performance. It is because the internal parties know about the entitys performance than the external users. 3 Chapter 2: Qualitative Characteristics and Constraints of Decision-Useful Financial Reporting Information Fundamental qualitative characteristics distinguish useful financial reporting information from information that is not useful or is misleading. For information to be useful, it must have two fundamental qualitative characteristics: Relevance capable of making a difference in the decisions made by users as capital providers. Information is relevant when it has predictive value, confirmatory value, or both. Predictive value information that is assists the capitals providers to form their own expectations about the future. Confirmatory value information that confirms or changes past or present expectations based on previous evaluations. IASB said that information is relevant when it influences the economic decisions of users by helping them evaluate past, present or future events or confirming, or correcting, their past evaluation. FASB believes that to be relevant, accounting information must be capable of making a difference in a decision by helping users to form predictions about the outcome of past, present, and future events or to confirm or correct expectations. Since some users may have been obtaining information elsewhere other than financial reporting, and emphasizes the relevance of information in their decisions, relevant information does not really make a difference in the past or in the future. Any information that might be able to make a difference is said to be relevant. Faithful representation depiction of an economic phenomenon is complete, neutral, and free from material error. Complete includes all information that is necessary for faithful representation of economic phenomena. Neutrality information which is bias free. Freedom from error estimation of the economic phenomena is based on the appropriate inputs and each input must reflect the best available information. Relevance is concern with the connection between economic phenomena with the decisions of capital providers and not their depictions, therefore should be consider first. Then, the faithful representation is applied to determine which depictions of economic phenomenon best corresponds to the relevant phenomenon. Enhancing qualitative characteristics improves the decision usefulness of financial reporting information that is relevant and faithfully represented. They are used to distinguish more-useful information from less-useful information. The enhancing qualitative characteristics are comparability, verifiability, timeliness, and understandability. Comparability Comparability is the quality of information that enables users to identify similarities and the differences between two sets of economic phenomena. Since the essence of decision making is to select between alternatives, the information is more useful if it can be compared with similar information about the other entities and with similar information about the same entity for some other period. Comparability should not be confused with uniformity. Overemphasizing on uniformity may reduce comparability by making unlike things look alike. The IASB Framework actually discusses comparability as a qualitative characteristic which is equally important as relevance and faithfully representation. However, FASB concludes that comparability is an enhancing qualitative characteristic because regardless of how comparable the information may be, it will not be useful if it is irrelevant to users decisions and does not faithfully represent the economic phenomena. Verifiability A quality of information that helps to assure users that information faithfully represents the economic phenomena that it purports to represent. If the information is verifiable, the knowledgeable and independent observers could come to the general consensus. The verifiability of the information focuses on whether the recognition or measurement method is correctly applied. Verification can either be direct or indirect. An amount or other representation itself verified such as by counting cash or observing marketable securities and their quoted prices are called direct verification. An example of verifying the carrying amount of inventory by checking the inputs (quantities and costs) and recalculating the ending inventory using the same cost flow assumption (accounting convention or methodology average cost and first-in, first-out) is indirect verification. IASB Framework does not include verifiability as an explicit aspect, yet FASB does. FASB observed that some of the information which is faithfully represented may not necessarily be verifiable. Therefore, if the information is verifiable, it is generally more useful. Thus, FASB concluded that verifiability is an enhancing qualitative characteristic. Timeliness Timeliness means having information available to decision makers before it loses its capacity to influence decisions. A lack of timeliness can rob information of its potential usefulness. The IASB Framework discusses timeliness separately, as a constraint that could rob information of relevance. However, FASB concluded that reporting information in a timely manner can enhance both the relevance and faithful representation of the information since information can be reported in a timely manner but has no relevance, or information delayed in reporting remains its relevance. Understandability Understandability is the quality of information that enables users to comprehend its meaning. When the information is classified, characterized, and presented clearly and concisely, the understandability will be enhanced. Although the reporting information has to be understandable, the users of the financial report should also review and analyze the information with reasonable diligence as the users are assumed to have a reasonable knowledge of business and economic activities and to be able to read the financial report. Enhancing qualitative characteristics should improve the usefulness of financial information and should be maximized to the extent possible. However, if the information is irrelevant or not faithfully represented, the enhancing qualitative characteristics cannot make that information useful for decision. Besides, the application of the enhancing qualitative characteristics is an iterative process which does not follow the prescribed order. In addition, FASB considered whether some other qualitative characteristics should be added, such as transparency, true and fair view, credibility, internal consistency, and high quality. FASB concluded that it would be redundant if transparency is added as one of the qualitative characteristics. True and fair view is not a qualitative characteristic itself, but it should result from applying the qualitative characteristics. FASB concluded that it should be the goal to achieve high quality to which financial reporting and standard setters aspire. By adherence to the objective and qualitative characteristics of financial reporting information, the goal can be achieved. Therefore, the characteristics mentioned in not added as the qualitative characteristics of the financial reporting information. In a nutshell, the qualitative characteristics of financial reporting information in this draft can be categorized into fundamental qualitative characteristics and enhancing qualitative characteristics as shown in the following: Figure 1 Compared to the conceptual framework issued by the Malaysian Accounting Standard Board (MASB) in 2007, most of the qualitative characteristics are identical to the characteristic discussed in this draft. However, the most distinctive aspect which can be found is MASB did not categorize the qualitative characteristics into fundamental and enhancing qualitative characteristics. The qualitative characteristics concluded by MASB are shown in the figure below. Figure 2 MASB concluded that the relevance of information is affected by its nature and materiality while FASB discusses materiality under the constraints of financial reporting. MASB provides that the economic decisions of users taken on the basis of the financial statements could be influenced when the omission or misstatement of the information is material. Thus, materiality provides a threshold or cut-off point rather than being a primary qualitative characteristic which information must have for it to be useful. Besides, MASB also discussed about substance over form and prudence under the characteristic of reliability. MASB provides that if information is to represent faithfully the transactions and other events that it purports to represent, it is necessary that they are accounted for and presented in accordance with their substance and economic reality and not merely their legal form. However, FASB did not identify substance over form as a component of faithful representation as it would be redundant to do so. In addition, FASB did not conclude prudence as a qualitative characteristic because it might conflict with the quality of neutrality. MASB discussed the characteristic of timeliness as a constraint on relevant and reliable information. If there is undue delay in the reporting of information it may lose its relevance. Management may need to balance the relative merits of timely reporting and the provision of reliable information. However, FASB concluded timeliness as an enhancing qualitative characteristic of the financial reporting information. There should be a balance between the qualitative characteristic as the IASB Framework says: In practice a balancing, or trade-off, between qualitative characteristics is often necessary. Generally the aim is to achieve an appropriate balance among the characteristics in order to meet the objective of financial statements. The relative importance of the characteristics in different cases is a matter of professional judgments. The information provided by financial reporting is limited by materiality and the cost of providing. Materiality Materiality depends on the nature and amount of the item judged in the particular circumstance of its omission or misstatement. It is important to consider the materiality of information because material omissions or misstatements will cause information to contain error, making it biased and incomplete. However, it is hard to specify a uniform quantitative threshold at which the information is material. Concepts Statement 2 and IASB Framework define materiality similarly but discuss materiality it differently. IASB describes materiality as an aspect of relevance and does not indicate that it has a relationship to other qualitative characteristics. On the other hand, Concepts Statement 2 provides that materiality should be considered together with qualitative characteristics (not only relevance). Thus, the Boards conclude that materiality is pertinent to all of the other qualitative characteristics. Cost The Boards emphasized the balance between the benefits of financial reporting information and the cost of providing and using it. Costs of providing information: Cost of collecting and processing Cost of verifying Cost of disseminating Cost of analysis and interpretation Cost resulted from omission of decision-useful information Benefits of financial reporting information: More efficient functioning of capital market Lower cost of capital Improved access to capital market Favourable effect on public relations Better management decisions However, the major problem for the standard setters in conducting rigorous cost-benefit analyses is the difficulty in qualifying the benefits of a certain reporting requirement. Besides, it is also difficult to obtain complete, quantitative information about the initial and ongoing cost of a requirement and impose them. Nevertheless, standard seekers should take into account both benefits and costs of proposed financial reporting requirements. There are 3 constraints of financial reporting information mentioned by the MASB: Balance between benefit and cost As mentioned in FASB, cost is one of the constraints of financial reporting information and the Boards emphasizes on the balance between the benefits of financial reporting information and the cost of providing and using it. Balance between qualitative characteristic MASB provides that, In practice a balancing or trade-off, between qualitative characteristics is often necessary. The relative importance of the characteristics in different cases is a matter of professional judgments. The FASB also mentions, In assessing whether the benefits of reporting information are likely to justify the costs, it is necessary to consider whether one or more qualitative characteristics might be scarified to some degree to reduce cost. Timeliness MASB mentioned that a constraint which is not mentioned in the conceptual framework of FASB; timeliness. MASB provides that if there is undue delay in the reporting of information it may lose its relevance. To provide information on a timely basis it may often be necessary to report before all aspects of a transaction or other event are known. On the other hand, if reporting is delayed until all aspects are known, the information may be highly reliable but of little use to users who have had to make decisions in the interim. Management may need to balance the timely reporting and the provision of reliable information.