Metaphors

The metaphor is a widely used figure of speech both in literature and in everyday world. People use metaphors when talking about self, career, life history, feelings and beliefs. Some of the metaphors have gain the value of aphorism due to their large usage and cultural pervasiveness. People often compare their life to a journey or to a step-by-step process that may be represented by a ladder; you may climb or you may fall, and then re-engage in the process of climbing, striving to reach the top. Many people use the ladder metaphor when they talk about their careers. Such metaphor is rather spatial, but may also be assimilated to a journey. This metaphor I was also taught and in my opinion it is widely spread in many cultures. When referring to the ladder as a metaphor of life or career the meaning of progress, of taking small steps and of being aware of the risk of falling are involved. However, it conveys the subtleties also found in the semantic field of career or life, as they both may encompass progress, regress or stagnation. Nevertheless, metaphors seem to value the positive, since viewing career metaphorically as a ladder suggests mainly progress and taking safe steps forward. The journey metaphor has been also applied to relationships; some people say that â€Å"my relationship is a journey†, alluding in fact to the ups and downs, unusual or interesting turns of events. Another metaphor related to progress in many areas of life is that of growing. People make reference to spiritual growth, emotional or professional growth. Such metaphor with a horticultural origin emphasizes the same meaning of development and progress, of enrichment. Usually people use the metaphor in contexts of life experiences, referring to the growth certain experiences bring about. Another metaphor is that of imprisonment. I have heard it most often used in relation to expressing feelings – such as â€Å"I feel imprisoned† (in a relationship, a profession etc.). The most frequent meaning I am aware of for such a metaphor is that of lack of communication or/and emotional exhaustion. The metaphors I mentioned above may be easily identify in interviews. For instance the metaphors related to career may be more often heard in recruiting processes or in professional settings. But they are not limited to such contexts, of course. They may prove useful in opening interviews or in making the rapport to the interviewee, depending on the type and setting of the interview. With such purpose the ladder metaphor may be used in an introduction in which the value of professional itinerary is described (important in opening an interview), and to make appeal to the needs of the individual related to constructing a career (in making the rapport). The interviewer could make use of this metaphor when explaining why career is important and how individuals relate to it. The metaphor of imprisonment may be more frequent in clinical settings or in clinical interviews. It is very important in such contexts to clarify the meaning the person assigns to the concept. Rhodes and Jakes (2004) put forth a valuable example of how metaphor research may be used in clinical setting by illustrating the role of metaphor and metonymy in maintaining delusions for some of the patients. However, these meanings assigned to metaphors may vary across families or cultures. For instance a family or culture in which the masculine values are predominant may use the metaphor of ladder or that of journey in professional context or when talking about career. The families or cultures that guide themselves after more feminine values use such metaphors referring to relationships and life events. In metaphor use there are certain universal aspects but also a great variability. For instance, the metaphorical expression â€Å"to burn one's fingers† implying that someone was deceived by something, is referred to in Russian in the form â€Å"to burn oneself†, or in Finnish â€Å"to burn one's fingers on something†, but implies the same meaning in all cases. The metaphor â€Å"something is hard to swallow† having food as an origin and making reference to problems, has a different expression in Czech – â€Å"something is hard to digest† and Japanese – â€Å"something is hard to chew† (Callies and Zimmermann, edts. 2002) It is very important to interpret the metaphorical language correctly especially when dealing with investigative contexts (social, clinical, professional etc.). In different types of interviews metaphors are important as they help establish the opening of the interview and rapport. Moreover, identifying the metaphors and the correct interpretation is important to determine true communicative intentions during the other stages of the interview. Metaphors are vital in communication and specific to socio-cultural contexts. Bibliography: Rhodes, J.E. and Jakes, S. (2004) The contribution of metaphor and metonymy to delusions.   Psychology and Psychotherapy: Theory, Research and Practice, 77, 1-17. Callies M., Zimmerman R.(edts.) (2002) Cross-Cultural Metaphors: Investigating Domain Mappings Across Cultures, Retrieved March 27, 2007.      

Population & The Environment Essay

Discussions regarding the environmental impact of increasing population densities across the globe never lose their currency. From Thomas Malthus to Paul R. Erlich and onwards, there is a persistent concern that a growing international population may not only reach a tipping point in which the planet’s ability to provide for it is stretched to its limit, but begin to experience detrimental effects in the form of environmental problems. This concern is not simply a matter of numbers, but a matter of how industrial civilizations have consistently failed to curtail anthropogenic impacts. As Donella Meadows (199) opines, â€Å"not only are there so many more of us, but each of us is bigger† when one measures the amount of energy and material we use and the amount of pollutants and waste created by the industries we have created to support our energy and material use. In effect, â€Å"The number of people is not what degrades the earth; it’s the number of people times the flow of energy and material each person commands. † One of the most frequently cited means by which highly dense populations negatively impact the environment is through intense car use. Alex Steffen (2008) notes that intensive car use within a finite geographic territory is not only a massive contributor to greenhouse emissions that are warming the planet, but they also command a large amount of resource use through the inputs necessary to maintain highway infrastructure, build the actual cars and fuel them. Granted, the resource consumption and greenhouse emissions caused directly by private automobile ownership is absolutely no surprise to anyone, but the less obvious implication that Steffen reports is that exhaust emissions are only a fraction of the environmental impact of the automobile. Over the course of the mid-20th century onwards, the increasing prominence of the automobile as part of modern living has necessitated the construction of massive highway infrastructure. The result is that when you factor dense populations with intense private ownership and use of automobiles is that not only is there a massive amount of greenhouse emissions, but the amount of pavement this infrastructure commands can contribute significantly to the heat island effect which has become a concern among urban planners as of late. Heat islands not only increase the amount of energy expended on indoor air conditioning, but they can worsen air quality. (Steffen, 2008) As such, Steffen argues that no matter the great lengths that today’s automobile manufacturers go to in order to make their automobiles into shiny fuel-efficient emissions-reduced green things to sate the eco-minded consumer, it will not be enough to remediate environmental impacts brought about by car use. Take for example the push towards biofuels, which is essentially, a push for auto manufacturers, in collaboration with energy companies, to make automobiles that run on renewable agricultural products that emit a reduced amount of greenhouse gases. While there is much fuss in the mainstream press about the extent to which the biofuel industry is cannibalizing the food supply, a more overlooked concern is the manner in which the expansion of industrial agriculture to such a massive scale negatively impacts the environment. Simply put, the principal concern is not the ability of agriculture to feed populations, but rather how the expansion of the food supply, combined with the accommodations made for biofuels, has a deleterious effect on the environment. Manning (85-89) notes that the homogenous and unsustainable approach of industrialized corn-based agriculture is detrimental to the health of the soil. As such, there is a possibility that the massive conversion of lands towards the production of corn could recreate the conditions of The Great Dust Bowl, a period in the American heartland which saw hundreds of thousands of would-be wheat farmers plow the soil to death to profit from golden grain. Thus, as civilizations increase in population density, so too do their demands in food and automobile use, effectively exerting a greater toll on the planet’s natural environment. In any case, we must be mindful to remember that the problems inherent with a massive human population should not lead us to conclude that humans have no ecologically acceptable place in the planet. Humanity is not a virus on the operating system of the planet. Rather, what human society should begin to acknowledge is that it must begin to take a more comprehensive look at its impacts in order to correct them thoroughly. REFERENCES Meadows, Donella. â€Å"The Deep Six. † Grist. 12 October 1999. Retrieved online on March 14, 2009 from: http://www. grist. org/comments/citizen/1999/10/12/deep/index. html Steffen, Alex. â€Å"My Other Car is a Bright Green City. † Worldchanging. 23 January 2008. Retrieved online on March 14, 2009 from: http://www. worldchanging. com/archives/007800. html Manning, Richard. Against the Grain: How Agriculture Has Hijacked Civilization. New York: North Point Press, 2004.

Book review for The Gangster We Are All Looking For by Le Thi Diem Essay

Book review for The Gangster We Are All Looking For by Le Thi Diem Thuy - Essay Example Thuy gives us a shared feeling of the situation and we are placed in layers of captivity by the elders unintentionally though! The circumstances were beyond the control of the Vietnamese elders. Loss of identity and the ensuing struggles was the first phase in their life. Dealing with the consequences and ensuing struggle to get accustomed to the new surroundings was the second stage. The third stage was breaking free from the past and looking forward to the new horizons. By and large Vietnamese-Americans have translated into reality that every crisis is an opportunity and they have gone through the difficult process of establishing the new identity. One important question is whether the author is sincere about her writings. I have no doubt about that and she has recorded the narrations without any motivated desires and as such I give more credence to the narrations than any researched material. This history of this family is like the barometer of the history of Vietnamese people in relation to America. From destruction of identity to its reconstructions is not an ordinary effort. Certain features of the lost identity are lost forever and they can never be recouped, and the only possibility is their fond and painful recollection. The author asserts that she gets some satisfaction by thinking about the palm trees of Vietnam, her parent’s love story, the â€Å"gangster† dispositions of her father, and she even does not hesitate to name her mother as â€Å"bad ass†. The unfortunate incident of the death of her brother constantly bothers her. In the end, the novel leaves the reader directionless and destination-less. That perhaps was the plight of millions of Vietnamese people who suffered untold miseries on account of the long war. The suffering of the near and dear ones of the Vietnamese and Americans soldiers who died was also intense. Besides being a writer, Thuy, is a performing artist. She was born in Vietnam and her parents left Vietnam along with her. The family settled in San Diego. The author writes, â€Å"We live in the country of California, the province of San Diego, the village of Linda Vista.†(88)The author now lives in western Massachusetts. Her parents lived a violently troubled marriage and the author had to put on with this private family war and it must have impacted her psyche as an adolescent as her mind was impressionable. About her father the author writes, â€Å"...my father, a Buddhist gangster from the North...† (79) Like other Vietnamese who suffered on account of the war, the beginning of the new life was extremely tough for them, as they were seized with grief, longing and cravings for love. Every incident narrated in the story, has the reflection of these three elements. At the psychological level, the author enjoys a love-hate relationship with America. The atrocities committed by the American Army and the resultant devastation to many thousands of families were part of the hi story. America was then protector to a number of Vietnamese also, as the country was caught in an ideological civil war, which the author considers as more damaging than the American war. Coming to terms with the American way of life was not optional, but destined compulsion. She found everything new, the threatening technology embraced every segment of life, the cultural gap and the racist behavior of schoolmates, who clubbed all Southeast Asian immigrants as â€Å"

What are the strategies of Apple Incorporated Essay

What are the strategies of Apple Incorporated - Essay Example Center of discussion in this paper is Apple as a very unique company because it dominated a market segment which is not its core business. Apple was launched in 1976 in a garage with Steve Wozniak and was able to revolutionize the computing industry with the introduction of its product line Macintosh (Mac) that â€Å"dramatically changed personal computing through its user-friendly graphical user interface (GUI), which allowed users to interact with screen images rather than merely typing text commands†. Apple’s success is not solely attributed to the creativity and functionality of its product line but also to its pricing strategy which has been a big change from the 1990s when consumers regarded Apple as a producer of overpriced tech baubles that cannot effectively compete against the far cheaper Windows PCs. This change was a result of a succesful implementation of its value chain activities that has significantly lowered its price. It became very pronounced with the launching of Ipad which price was far lower than what they expected. Its introductory price last year of $499 stunned everyone, which led John Gallaugher, an associate professor of information systems at Boston College to comment â€Å"It was a very competitively priced device†. The same is true in the notebook product line. When Macbook Air was introduced in 2008, it was priced at an exorbitant $1,799. This became possible by the briliant management of Apple’s supply chain due to capitalizing its organizational capability of having huge cash reserves. It made its supply chain a strategic weapon to lower price in order to capture the market. It tapped into its huge war chest of $82 billion in cash and marketable securities to lock up supplies of parts for years to enable it push down cost by the scale of its purchase (Wingfield, 2011). It also bought manufacturing capacity ahead of its time and made its components scarce that, in turn, made its competitors scrambling for any parts that are left and drove the cost of its products up while Apple had lowered its own (Wingfield, 2011). To date, Apple has been recorded as the biggest buyer of flash memory chips in the world according to the research firm iSuppli (Wingfield, 2011). The effect of using value chain management as a strategic weapon proved to be a nemesis among its competitors. When this effective value chain management was reflected in retail prices, competitors had to slash their prices where Motorola’s Xoom tablet was pushed to lower its price at $379 at Best Buy (for a limited time) and virtually won the competition with Hewlett-Packard’s TouchPad line of tablets which were pushed to be sold at $99 to clean the inventories. III. What is the core of Apple from a product point of view? The core product of Apple was its desktop computer Macintosh. Its main revenue source however comes from its other product line such as Ipad, Iphone and Ipod. IV. Are all products and servic es equal to Apple? If not what are the key pieces? Use your entire toolkit, especially the financials, to support your decision.   Apple Incorporated made itself distinct by making its hardware and software work in synergy that enabled its products and services unequalled by its competitors. The best example that we can show for this is the synergy that its operating system iOS5 that provide synergy among the different product lines of Apple. It powers the iPad, iPod and iPod touch which allows the three products to interact and complement each other. Its new computer operating system Lion also has an Air-drop feature that has made sharing of information between Mac computers very convenient. Air-drops peer

Assignment Example | Topics and Well Written Essays - 250 words - 270

Assignment Example Various parts of the world have different cultural practices and food preferences, the MacDonald in its establishment in each country, has paid attention to the cultural believes and the taste of the different countries. For instance in India, the country took into consideration the fact that the Hindu culture does not advocate beef consumption (Keegan, 2014). To curb the issue, the company provided a similar product but without beef in it – maharaja chicken-.The Company strategically places itself in abuse place that can attract more customers. For instance in India New Delhi initial branch, the company places itself in a busy street that saw soaring queue in the evenings hence drawing large revenue to the company. Moreover, for acceptability in the local areas, the company purchases over 90 percent of its raw materials from the locals (Keegan, 2014). As much as MacDonald’s might want to standardize its products in its entire chains world over, it has to pay attention to the local culture and preferences. To the MacDonald and its acceptability world over, the company has resulted to developing a similar product but using different ingredients that are acceptable in the local market. It is evidently displayed in

Critique-Does the Internet strengthens Social Connections Essay

Critique-Does the Internet strengthens Social Connections - Essay Example Writer has given evidences from many sources to support his viewpoint however; enough evidence is available to counter the viewpoint of writer. This essay will make an effort to highlight that Internet does not strengthen social connections rather it is a source of weakening them. In particular, the paper will include different examples to discuss the above-mentioned statement. Writer (2011) has discussed â€Å"diffusion of information across a wide population† and â€Å"online communities or social networking sites â€Å"as big advantages. It needs discussion how much these linkages have benefited humanity and the world as a whole. One need to see whether world is a better place to live today than it was ever before. It is considered that internet is damaging basic fabric of human society by replacing Face-to-Face Communication with Online Communication. Over the years, people of all ages, especially younger ones prefer to surf the web in homes rather than spending time wit h family members. Reference is made to a study available regarding negative effects of internet on teenagers, which states, (Web) â€Å"The proliferation of pornographic materials is undeniably one of the alarming things that has brought about by the Internet. It does not only corrupt the minds of the young people that are exposed to them but also it paves the way for the degradation of human dignity. It also strains the moral make up of society. The Internet also alienates the person from his social self. While most think that talking to loved ones through the computer screens allows or offers the same satisfaction of social needs just like engaging in conversations personally, there really is a big difference between the virtual self and the social self. This could further lead to addiction, which could hamper a person’s way of living and those who are directly in contact with him. The Internet was intended to be used for military purposes. However, due to its versatility and applicability, we have it as how it is used today. It exists as our friend when used properly and our foe when misused†. Beyond doubt internet has facilitated means for interpersonal communication while using social networking site like Face book and MSN Messenger, but to what end ?, it has become a biggest time waster for American people specially youth. People are found deeply involved in a never-ending loop of chatting, instant messaging, emailing, video conferencing, webcam pornography and host of other activities related to net. Social connectivity resulting from cyber space is temporary and forgettable. Faces can be swapped on net like web pages, one leading to another as a chain reaction without real affiliation with any one. Utility of internet in establishing social connections is a fact however these connections are, in majority cases, short lived, temporary and forgettable. Parents are very commonly found complaining about kids always sticking to internet one-wa y or the other. In addition to negative socializing there are menaces like entertainment , pornography and anti- religion sites which have become a source of mental deviation rather disease for many people. Another menace introduced by net is mind wandering in which people are not mentally present where they physically are. Web reference (Web -Social Capital and College Students’) quoted by writer refutes use of social networking sites by saying: Although this early work acknowledged the ways in which offline and online networks bled into one another, the assumed online to offline directionality may not apply to today’s SNSs that are structured both to articulate existing connections and enable the creation of new

How could human cloning harm or benefit us Essay

How could human cloning harm or benefit us - Essay Example As there are different types of people living in the world, their perspective for the concept of cloning is also varied and based on different religions, demographics and the social aspects. Body The human cloning is a phrase that is used to describe the artificial ways of cloning human being such as human clones as the identical twins that came into existence as a natural reproductive process. This type of cloning is known as embryo cloning. In scientific field, cloning has three different types. The three types of cloning are termed as therapeutic cloning, reproductive cloning and embryo cloning. The first type of cloning or therapeutic cloning is highly used in the world of cloning that consists of adult cell cloning that is used for further research in the field. The second type of cloning is reproductive cloning that is entirely based on the reproduction of clones with the use of human cells. The various countries of the world have different perspective of accepting or declining the concept of human cloning. There are some countries that are willing to accept the concept of embryonic cloning, although, they are against the reproductive human cloning and involves India, China, England and Singapore. Nevertheless, there are few countries in the world that have directly and strictly prohibit the practicing and research of embryonic cloning and include Australia, Brazil, Germany, France and Mexico. In U.S. albeit the embryonic cloning is not prohibited, however, there are few states that have made it illegal and against the law. Moreover, the financial support from the federal department for the purpose of cloning research is also entirely banned. For that purpose, a bill was also proposed in the United States but was not passed that aimed to restrict the American citizen to travel other countries for the purpose of getting stem cell treatments with the help of embryo cloning. It has been seen that the cost of research of cloning just on animals in quite expen sive, thus makes it double or triple time costlier for the human cloning. It is because of the reason that scientists and researchers are mostly working on animal cloning extensively and various types of cloning studies are conducting on different animals including monkeys and frog cells. In the field of cloning and biotechnology, the researchers of United States and Europe have made the highest contribution when compared with the other countries. According to a cloning research in 2009, the American heart Association has provided the financial support for researching animal cloning, human DNA sequence and cell lines. In 2007, American state of California undertook a voting process where residents voted in favor of embryo cloning and even made the funds for the further research in the field. it is due to those people and most particularly the Californian scientists that the concept of human cloning gain momentum. The idea of opening up the human cloning clinics in Chicago was initia ted by the scientist Richard seed in 1998. He planned to open up almost twenty clinics in the country and other six clinics on the international grounds. Each country and its citizens have their own set of beliefs and reasons as to why the concept of human cloning must be accepted and promoted and why it should be banned and prohibited entirely. The most common reason is related to the ethics that promotes the banning of human cloning because in the beginning, the human cloning

Book review for Eat A Bowl of Tea by Louis Chu Essay

Book review for Eat A Bowl of Tea by Louis Chu - Essay Example Louis Chu â€Å"†¦was born in Toishan, China, in October 1, 1915. Immigrated to the United States†¦.a master’s degree from New York University†¦Ã¢â‚¬  (4).One of the important characters in the story was Ben Loy the son of a â€Å"bachelor† father. After WWII, he was sent to mainland China to get married to his bride Mei Oi and after the marriage he returned to America but lost his sexual powers mysteriously and turned impotent. That was an arranged marriage by the parents of the bride and the bridegroom. Ah Song, a gambler and thug, made use of this opportunity of the sexual disability of Ben Loy and seduced Mei Oi. The story depicts the lifestyles of the people in China Town and the socio-cultural issues with the Chinese Americans of the time and their struggle for assimilation with the mainstream American society. It can be categorized as the social/cultural history of the Chinese Americans. The process of building up of a multicultural and multiethn ic Nation like America is complicated and is beset with many transformational problems. In between race and nation many ancillary issues like historical facts, gender and sexuality exert their presence and pressure strongly. This is validated by Louis Chu in this novel. On the other hand, the issues raked up in â€Å"Comfort Woman† by Okja Keller are more or less identical. Through the struggle of Ben Loy trying to strike the balance between China and America, the author depicts the issues with the Chinese American Society and their efforts to come out of the cocoon of the age-old Chinese traditions. Structural racism of the American system confronts him as he tries to better his economic and social prospectus within the limited opportunities and scarce resources. The scope is narrow and one is not allowed to transcend the limits set forth by the elders of the community. He is not allowed to be innovative and experiment with new business projects and to take independent decis ions. At the personal level he has sexual problems, may be as a consequence of pressure of handling the business that he does under compulsive circumstances and not with pleasure. The problems of Mei Oi were different. The sudden transplantation to the modern country, from a country that still practiced the middle-age traditions and values was like an electrical shock to her and she was finding it tough to come to terms with her new surroundings. She was not provided appropriate guidance and moral support from other female members of the Chinatown. Her husband’s impotency and the resultant depression took her to the portals of adultery for sexual fulfillment. Destiny played its part and things began to shape better when the couple moved to San Francisco, the American city to which the immigrants from China arrived first to make a fresh start in their life. They were able to integrate with the society better here and with that assimilation they began to make efforts for the fr uctification of their dreams. The pursuit of diversity became possible and the current issues took precedence in their lives and they began to enjoy the life of transformation and new joys sprouted forth in their lives. Destiny stuck the benevolent note this time and Jeffery Chan in his introduction to the book writes â€Å"Ben Loy regains his potency by eating a bowl of tea a regimen prescribed by an herbalist†

Public Budget and Finance Essay Example | Topics and Well Written Essays - 1750 words

Public Budget and Finance - Essay Example Taxation is a symbol of civilization since it has always been the source of revenue for empires and states since historic times (Samson, 2003, p21). Taxation generally developed as a method of nations giving legitimate protection to their subjects and their properties. The Ancient Egyptians, Greeks and Romans had taxes that required nations to pay the state for the use of land. In Medieval times, this was modified into a feudal system where nobles collected taxes from citizens in return for protection. This was popular in England. The UK Parliament imposed property taxation on their colonies in North America in 1634 (Jensen, 1934 p2). After independence in 1776, the Patriots used taxation to build revenue for the nation, influence peoples spending habits and promote justice and fairness in the nation (IRS Website, 2011). From 1781 – 1789, the Constitution gave the states the right to tax their people. This meant that states had to come up with their own tax regimes and set up local tax jurisdictions for the collection of taxes. The taxes were mainly in the form of tariffs and excise duties. States had the right to set up their own local government systems and the states paid some money to the Federal government in proportion to the volume and population of each state. Between 1862 and 1872 during the American Civil War, the Federal Government had to take more revenue from the individuals (IRS Website, 2011). This implied that the Federal Government had to supervise the collection of taxes from the local level to the state level to ensure that the war could be funded appropriately to restore the constitution and its various requirements. From 1913 to present, the 16th Amendment gave Congress the right to oversee the collection of taxes (IRS Website, 2011). This therefore implies that Congress has the right and responsibility of supervising states to set up tax jurisdictions and local offices to collect taxes for the funding of public

Technology review Essay Example | Topics and Well Written Essays - 750 words - 3

Technology review - Essay Example Turnitin.com: turnitin.com is an effective plagiarism checker which means its work is to verify and check for any plagiarism that prevails in the paper. It is a very reliable website for instructors which aim to compare the work submitted to the teachers with works on the web in order to check the reliability and uniqueness of the work. It is easily available and online communities can be made through which the instructor can evaluate and access the work. K5learning.com: k5 learning again is an interactive platform for young learners who seek to develop their skills through fun. K5 is a website which accesses young learners and enhance their abilities. Online tests are taken, assessments are done and help is provided to those who need reinforcement so that an effective learning mechanism is generated. Freevideolectures.com: it is an online resource for many learners out there who can easily access online the lectures of reputable teachers regarding various topic of study. This site enables learners to gain knowledge regarding various subjects having lectures of almost 30 respectable universities. This websites offers a vast range of courses and lectures which students aid from to develop better understanding in a convenient and cost effective manner. Tutorphil.com: is an online site to overcome the workload and ease down the frustration level among students. It provides learning methodologies and gives advices and tips to overcome the problems while structuring an essay. It is an interactive site which helps to device proper essays with ease and convenience. At this point I would like to choose my three sites which according to me are the most reliable to generate effective learning. My three sites which I will focus on in my essay are lore.com, turnitin.com and freevideolectures.com. If these three sites are integrated then a very convenient mechanism can be generated which will aid in learning. The reason why I think

Case Study on Operational Management Essay Example for Free

Case Study on Operational Management Essay Confession: during my dating youth, no matter how much I liked a girl, no matter how much I wanted her and just her exclusively, I’d never tell her that purely for fear of looking weak and pathetic. If we were ever to move beyond the vague, undeclared status that characterizes every relationship in its early phase, well, that would be up to her. Most guys think this way. The problem with this strategy is that sometimes, a guy likes a woman so much that he’d rather not wait for her to initiate The Talk. Or, if you’re like me, you’re over 30 and generally cranky and impatient, so you’d like to know where things stand before too many months of amorphous pseudo-commitment go by. The challenge is to share your feelings in a way that will help you get what you want and won’t make you seem like you’re groveling and/or desperate. Here are some tips to keep in mind. Never just assume you’re exclusive This should seem obvious, but guys can still be presumptuous and make all kinds of embarrassing mistakes. â€Å"I was seeing this girl and I changed my Facebook profile to say ‘In a Relationship,’† admits PJ. â€Å"And she was like, ‘Who are you in a relationship with?’ I was like, ‘You!’ I could tell she wasn’t exactly happy about it.† The lesson: You have to get her to say â€Å"yes† to the idea of dating exclusively before you are in fact dating exclusively. This brings us to our next piece of advice†¦ Browse Local Singles at Match.com on Yahoo! I am a: Seeking a: Near: Make sure there’s a good chance she’ll say yes The conventional wisdom is that women are always ready to have a boyfriend. And maybe that was true during the Eisenhower administration. But in the present day of Facebook and the near limitless possibilities of online dating, it is just as likely a woman wants to have what is euphemistically known as â€Å"having fun.† â€Å"Be really careful if she’s just finished a long-term relationship,† says James, a chef. â€Å"Or if she doesn’t return your phone calls right away. If your calls are going right to voicemail, and she doesn’t call you back for like eight hours, she doesn’t want you to be her boyfriend.† Don’t go overboard The guiding principle in asking a girl to be your girlfriend is to not appear desperate: No matter how good your intentions, you may never recover from it. â€Å"My boyfriend bought me a necklace and literally got on his knees and asked me to be his girlfriend,† says Shelia, a web designer. â€Å"I said ‘yes,’ but it was a little much.† Even less dramatic overtures can still feel over the top. â€Å"I was at dinner with this girl, and I took her hand and said ‘You know I’m not seeing anyone else,’† says Zach, a lawyer. â€Å"I thought we’d have this romantic moment, but she just looked at me like I was crazy.† Bring it up casually Given that overboard gestures might make a woman uncomfortable, consider doing what most men do best anyway: asking in a more laid-back manner. Make sure the venue in which you’re asking is mellow as well — no fancy dinners, no propositions in front of family, and so on. Remember: You want to be in the kind of circumstances where her saying â€Å"no† won’t leave you feeling like a dolt for an extended period of time. â€Å"I think while you’re walking her home or driving her home is good,† says Eric. â€Å"That way you’re not stuck at some restaurant with this giant rejection hanging over you if she says no.† So how should you cough it up? A simple â€Å"Hey, I’ve been wondering whether we should date each other exclusively. What do you think?† should work just fine. It reveals your intentions, and yet leaves the door way open for her to say no thanks, she’s not ready for that yet. Another natural segue is if introductions will soon be in order — say, she’s meeting your friends and you’re wondering if you can say she’s your girlfriend. Or consider my friend Rebecca’s story: for around six weeks, she’d been dating this guy who was on break from grad school. â€Å"Then one weekend he was about to leave to go back to school,† she recalls. â€Å"And right before he left he said, ‘By the way, when I tell my friends about you, can I call you my girlfriend?’ I loved that!† Consider ending the relationship if she says no This is a good idea for two reasons. First, there’s nothing sadder than hanging around a girl who wants you a whole lot less than you want her. Remember high school, when you were in love with the girl who only wanted you as a friend? Well, it’s worse, since you’re getting enough relationship crumbs from the table to keep you involved, but not so few that you’re moving on with your life and trying to meet someone new. Second, by moving to end the relationship, you force her to consider life without you†¦ and she has to decide if that’s doable for her. Women are stereotypically the ones who use this tactic: â€Å"Marry me or I’m out of here;† â€Å"We need to settle down or I need to move on,† etc. And the only time we realize how much we love and need them is when they’re out the door. So learn from women. If you’ve done everything else right — you’ve asked her casually, you’ve made sure all the signs that she likes are there, and she still says no — tell her â€Å"I think you’re great, but I’m interested in something more serious.† You might leave with a heart that heals fairly quickly. Or you might get a call from her within a week or two, asking if when she tells her friends about you, she can call you her boyfriend. Steve Hamilton is a New York City-based freelance writer.

Differences between male and female leadership

Differences between male and female leadership There are a variety of conflicting views regarding the differences between male and female leadership styles across the world. The researchers have come up with conflicting results and therefore there are two clubs now that project two opposite views. I will go on now to describe the research associated with the topic. Gender Differences are Significant: The first groups of people under discussion are those who believe that gender differences in leadership styles are very significant and obvious. According to Judy B. Rosener, (1995), A professor in the Graduate School of Management at the University of California, the male and female leadership styles are different, as in, the male leaders generally believe in command and control form of leadership where they dictate orders whereas women believe in participative leadership where they are interactive and want to involve all the people around them in their vision and plans. According to Professor Judy, males are usually very keen about status distinctions, competition and hierarchy in general, whereas women are more interested in focusing on proper communication and breaking down hierarchy. Sally Helgesen (1995) in her book the Female Advantage observes that women in general have a behavior pattern that encourages equality among peers. Not letting their role get in the way. Helgesen continues, they seek to empower those around them by being direct and natural in a way that minimizes their own ego and strips them of the trappings of power which emphasizes boundaries and divisions (p.144). Similarly Nancy Badore, Executive Director of Ford Motor Companys Executive Development Center does not mind admitting that she doesnt mind showing that she doesnt know something or being herself. Mostly, men believe that they need to maintain an aura of control and knowledge to seem superior. She on the other hand has no issues admitting that she is human and does not believe that it makes a difference to her perceived respect as and executive. This highlights a key difference in the way men and women think. (Helgesen,1995, p. 151). Diane Lewis (1998) claims women are different as if it were a fact in her book Equal to the Challenge. In her book she claims that women are very different from men in not just the way they look, they are different as people and have entirely different personality traits. They have different attitudes, behaviors and beliefs and these have come into play because of the vast differences in which men and women are raised in society. She says in her book that These internal differences add up to one big external difference. We women often behave in ways contrary to our success, even to our survival, in the world of work because men are naturally competitive and put winning ahead of harmony and are generally comfortable with rules and structure, where as women are naturally inclined to put harmony above all and sometimes will break rules for the purpose of protecting their loved ones. According to (Powell. 1999) Women network; men do not. Women share information; men do not. Women place cooperation above competition; men do not. Women are more concerned with how things are done, with process, than with merely getting things done; they are more concerned with means than with ends. Unlike men, women do not have an instrumental view of work or of the workers. For women leaders, workers are ends in themselves, not means to an end. This, according to Alice H. Eagly and Linda L. Carli in The female leadership advantage: An evaluation of the evidence is an advantage as females are more transformational leaders where as men in general are transactional leaders (based on their personality traits) Thus, these researches make the point that women and men are essentially different from one another and therefore have varying leadership styles that in turn effect their advancement up the corporate ladder. No Visible Differences: Then, another group that counters these researchers is the group that claims that there are no significant differences in the way men and women lead people. Epstein (1990) argues that even if women do bring a different set of qualities to the workplace its myopic to say that its only women who possess those set of qualities. It may be true that men in general are lower on levels of empathy as compared to the average woman; however it does not mean that men who are leaders have lesser empathy as compared to women leaders. Similarly, Gary N. Powell (1999) concludes in his research that sex differences are absent in task-oriented behavior, people-oriented behavior, effectiveness ratings of actual managers, and subordinates responses to actual managers (p.165). he also goes on to say that most of the studies conducted about differences in leadership styles among the sexes are basically biased in themselves as they were not conducted in the actual workplace or among people who were actually leaders (after all, gender differences among ordinary people do not necessarily reflect differences in personality traits of actual leaders) Another later research done by Jane Mansbridge (1991), the differences in between the gender leadership styles are just 1/5th of a standard deviation and are small enough to be ignored. She writes in her book that the difference between men and women styles may be much smaller than the differences between managers of small and large companies, of old and new companies, or old and young managers (pp.154-155). These people therefore argue that the claimed differences in male and female leadership styles are basically stereotypical and severe oversimplification of reality based on our own perceived biases. In actuality men and women are not so different in leading styles as they are projected to be. So what is the conclusion of all this research? Unfortunately, the research is inconclusive. It depends according to Captain Willie L. Parker, Jr. on which particular woman and which particular man we are talking about. This is because women and men are extremely broad classifications. They include people from different ages, education backgrounds, social settings they were raised in and different values. There is no one way that we can use a description that fits all the women all across the world. Therefore its when asking ourselves about qualities that define women, its important to ask ourselves which particular woman and which particular man we are talking about.

Financial Accounting Standards Board Framework Analysis

Financial Accounting Standards Board Framework Analysis Introduction The accounting conceptual framework has been criticized for not providing an adequate basis for standard setting. This inadequacy is evidenced through the FASBs standards becoming more and more rule-based. Nevertheless, no empirical evidence has been gathered to support the criticisms of the conceptual framework. We analyzed the five qualitative characteristics of accounting information from the conceptual framework in conjunction with an individuals intention to use/rely on financial statements. Using structural equation modeling, we found that only one qualitative characteristic, reliability, affected a persons intention to use financial statements. Additionally, it appears that the greatest factor that influences whether an individual rely on financial statements is their familiarity with accounting. Based on our findings, it appears that not only does the conceptual framework need to be altered, but it also needs to be changed to help create principle-based accounting standards t hat are useful to all people, regardless of their background. The Financial Accounting Standards Board (FASB) has been criticized for not requiring firms to report information that is interpretable and useful for financial statements users (CICA, 1980). The FASBs conceptual framework is the core in which all accounting standards are derived. Therefore, the accounting conceptual framework must embody a set of qualitative characteristics that ensure financial reporting provides users of financial statements with adequate information for decision making. The U.S. financial accounting conceptual framework was established between late 1970s and early 1980s. Statement of Financial Accounting Concepts (SFAC) No. 2 (1980) indicates that there are five main qualitative characteristics of accounting information; understandability, relevance, reliability, comparability, and consistency. Nature and Purpose of the Conceptual Framework The conceptual framework was formed with the intention of providing the backbone for principle-based accounting standards (Nobes, 2005). However, the Securities and Exchange Commission (SEC) has recently criticized the accounting standards setting board for becoming overly rules-based, which paves the way for the structuring of transactions in the companys favor (SEC 108(d)). Critics of the framework have stressed that the move towards rule-based standards are a consequence of inadequacies in the accounting conceptual foundation. Nobes (2005) argues that the need for rule-based accounting standards is a direct result of the FASB trying to force a fit between standards and a conceptual framework that is not fully developed. A coherent and strong conceptual framework is vital for the development of principle-based accounting standards and the progression towards convergence in international accounting standards. However, researchers are unaware of any empirical evidence that supports the criticisms of the current conceptual framework. Additionally, none of the critics have looked at the conceptual framework from the most important viewpoint, the users perspective. Therefore, the purpose of this paper is to empirically analyze the adequacy of the conceptual framework, from a users perspective, in relation to an individuals reliance on financial statements for decision making. We developed a survey instrument to analyze an individuals intention to rely on financial statements using Ajzens (1991) Theory of Planned Behavior. We found that the reliability characteristic of the conceptual framework represented the only significant dimension of a persons attitude affecting their intention to rely on financial statements. However, the understandability characteristic was approaching significance. Within the context of the theory of planned behavior, social pressures was not significant influence on the intention to use/rely on financial statements, yet familiarity with accounting was found to significantly influence intention. The conceptual framework and potential financial statement users intentions can be analyzed within the context of Ajzens (1991) Theory of Planned Behavior. Ajzen (1991) indicates that empirical evidence suggests that we can determine an individuals intention to perform a behavior through analyzing their attitude, subjective norms, and perceived behavioral control. Within this perspective, we adapted Ajzens (1991) theory of planned behavior to an individuals propensity to rely on accounting financial statements. The purpose of this study was to provide an empirical analysis to the criticism against the FASBs conceptual framework. Our overall results suggest that the current conceptual framework does not adequately align the objectives of financing reporting with the users of financial statements. Nevertheless, available findings have some interesting implications for the conceptual framework and future standard setting. Reliability is the only qualitative characteristic that has a positive statistical significant relationship with intention. The accounting profession is facing a choice between reliability and relevance in financial reporting, as there is an inherent trade-off between reliability and relevance (Paton and Littleton, 1940; Vatter, 1947). Reliable information possesses the characteristic of objectivity and verifiability, which is associated with historical cost accounting. Relevance, on the other hand, pertains to any information that will influence the users financial decision. Many times the most relevant information is often current or prospective in nature. Thus, we cannot have accounting information that maximizes the characteristics of both relevant and reliable because relevant information is not always verifiable. We would have expected to see relevance as a significant factor in users intention to use financial statements since the recent accounting standards have moved toward fair value accounting measures, which are considered to be more relevant than reliable information (Ciesielski Weirich, 2006). However, our results show that reliability is a significant factor. The current accounting curriculum could be the cause of our results since it is rooted in Paton and Littletons historical cost approach, which focuses on reliability of information. In the context of the Theory of Planned Behavior, we found that familiarity to be a statistically significant factor to an individuals intention to use financial statements. Thus, as an individual becomes more familiar with financial statements, he or she is more likely to have the intention to use or rely on them when making decision. An ANOVA analysis provides further support for this as it indicates that intention to use or rely on financial statements is significantly different between accounting majors and non-accounting majors. This provides evidence that accounting could be becoming too difficult for individuals who are not proficient in accounting to understand. It appears that the movement towards rule-based accounting standards could be a contributing cause of this disparity in intention. That is, the accounting standards have become so technical upon their execution that the average reader of accounting can no longer discern the main objective of each financial statement element. This finding is troubling to accounting since it contradicts the primary objective of accounting, which is to provide useful accounting information for decision making. Accounting information should be useful for all people who want to use it rather than only being useful to those who understand it. Additionally, under no circumstances, should accounting information provide an advantage to individuals who happen to be experts within the field. Accounting should be a tool and not a barrier At the-present, the accounting profession is grappling with a problem, which it has identified as the need for a conceptual framework of accounting. This framework has been painstakingly developed over centuries, and it is merely the professions task to fine tune the existing conceptual framework because of the need for continual development due to changing conditions. This conceptual framework has never been laid out in explicit terms; consequently, it is continually overlooked. A conceptual framework has been described as a constitution, a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature, function, and limits of financial accounting and financial statements. For many accountants, the conceptual framework project is difficult to come to grips with because the subject matter is abstract and accountants are accustomed to dealing with specific problems. In resolving those problems, accountants may unconsciously rely on their own conceptual frameworks, but CPAs have not previously been called on to spell out their frameworks in systematic, cohesive fashion so that others can understand and evaluate them. It is essential that a framework be expressly established so that the FASB and those evaluating its standards are basing their judgments on the same set of objectives and concepts. An expressly established framework is also essential for preparers and auditors to make decisions about accounting issues that are not specifically covered by FASB standards or other authoritative literature. It is considered that if the conceptual framework makes sense and leads to relevant information, and if financial statement users make the necessary effort to fully understand it, their confidence in financial statements and their ability to use them effectively will also be enhanced. No one who supports the establishment of a conceptual framework should be laboring under the illusion that such a framework will automatically lead to a single definitive answer to every specific financial accounting problem. A conceptual framework can only provide guidance in identifying the relevant factors to be considered by standard setters and managers and auditors in making the judgments that are inevitable in financial reporting decisions. A Classical Model of Accounting: The Framework Expanded Historically, the particularized information, which constituted the emergence of accounting, was embedded in a framework for control of human behavior. With the advent of exchange replacing a sustenance society, and with exchange ultimately producing a private economy, accounting derived its second, and in modern times considered its most important, function as a planning instrument. The classical model simply states that behavioral patterns do exist in the structural development of accounting; that is, given a stimulus there will be a response which is direct reaction (an expected reaction) to that stimulus. One can relate this model to the classical model in economics, in which supply and demand for a commodity react in an expected manner due to a change in price. Figure 3 is a geometric illustration of the classical model. The special features of the model are: (a) Stimulus (S) = Demand; Response (R) = Supply (b) Equilibrium (E) = Stimulus = Response (c) Environmental Condition (EC) = Price (d) Accounting Concept (AC) = Product A Test of the Validity of the Model If the classical model does exist in accounting, the historical observations (see table I) should then bear testimony to its existence. The evidence to support this model is purely historical. However, no parallel should be drawn between this thesis (stimulus/Response) and Toynbees (1946, 88) line of inquiry: Can we say that the stimulus towards civilization grows positively stronger in proportion as the environment grows more difficult? Consequently, the criticism directed at his work should not be considered even remotely as applicable to this inquiry (Walsh 1951, 164-169).On the other hand, only in the extreme can the accusation leveled at Kuhn [1962] be directed here, that the conceptual framework (classical model of accounting) as presented may subsume too many possibilities under a single formula (Buchner 1966, 137). More appropriately, this study is undertaken along the lines suggested by Einthoven (1973, 21): Accounting has passed through many stages: These phases have been l argely the responses to economic and social environments. Accounting has adapted itself in the past fairly well to the changing demands of society. Therefore, the history of commerce, industry and government is reflected to a large extent in the history of accounting. What is of paramount importance is to realize that accounting, if it is to play a useful and effective role in society, must not pursue independent goals. It must continue to serve the objectives of its economic environment. The historical record in this connection is very encouraging. Although accounting generally has responded to the needs of its surroundings, at times it has appeared to be out of touch with them. The purpose of this line of inquiry is to put into perspective concepts which have emerged out of certain historical events. (In this treatise, accounting concepts are considered to be interlocking with accounting measurement and communication processes; thus, whenever the term concept is used herein, it is to be understood that accounting measurement and communication processes are subsumed under this heading.) These concepts collectively constitute, or at least suggest, a conceptual framework of accounting. The classical model is postulated as follows: For any given environmental state, there is a given response function which maximizes the prevailing socio-economic objective function. This response function cannot precede the environmental stimulus but is predicated upon it; when such response function is suboptimal, the then existing objective function will not be maximized. In a dysfunctional state, a state in which environmental stimulus is at a low level a level below pre-existing environmental stimuli, disequilibrium would ensue. In any given environment, the warranted response may be greater or less than the natural or actual response. When environmental stimuli cease to evoke response, then the socio-economic climate will be characterized by stagnation as the least negative impact of disequilibrium conditions, and decline when such environmental stimuli are countercyclical. Stage 1 In this period, (1901 to 1920) the environmental stimulus was corporate policy of retaining a high proportion of earnings [(Grant 1967, 196-197); (Kuznets 1951, 31); (Mills 1935, 361,386-187)]. This period is the beginning of corporate capitalism. The term corporate capitalism is used because it emphasizes the role in capital formation which corporations have ascribed to themselves. Hoarding of funds by corporations has reduced the role and importance of the primary equity securities market. The resource allocation process has been usurped by corporations (Donaldson 1961, 51-52, 56-63). The implication of such a condition is accentuated in the following statement: It is the capital markets rather than intermediate or consumer markets that have been absorbed into the infrastructure of the new type of corporation. (Rumelt 1974,153). The hard empirical evidence of this condition was revealed by several tests of the Linter Dividend Model, which maintains that dividends are a function of profit, and are adjusted to accommodate investment requirements [(Kuh 1962,48); (Meyer and Kuh 1959,191); (Brittain 1966,195); (Dhrymes and Kurz 1967, 447)]. Given the new role assumed by the corporation in capital formation, the investment community (investing public) became concerned with the accounting measurement process.The accounting response was verifiability (auditing) to demonstrate the soundness of the discipline. Productivity of existing measurements had to be verified to satisfy the investors and creditors. The Companies Act 1907 required the filing of an audited annual balance sheet with the Registrar of Companies [(Freer 1977, 18); (Edey and Panitpadki 1956, 373); (Chatfield 1956, 118)]. Thus, auditing became firmly established. The function of auditing measurements is the process of replication of prior accounting. Accounting is differentiated from other scientific disciplines in this aspect of replication. Replication is a necessary condition in sound disciplines; however, replication is generally undertaken in rare instances. In accounting, on the other hand, replication is undertaken very frequently for specified experiments business operations at the completion of the experiments business (operating) cycle. These experiments business operations, cover one year; at the end of the year, the experiments are reconstructed on a sampling basis. Auditing is the process by which replication of accounting measurements are undertaken. Publicly held and some privately held corporations are required to furnish audited annual financial statements which cover their business activities on an annual basis. Stage 2- This period, (1921 to 1970) witnessed the reinforcement of corporate retention policy. This condition shifted the emphasis of the investor to focus on the Securities market in the hope of capital gains, because of the limited return on investment in the form of dividends. Indubitably, investors concern was shifted to market appreciation through stock price changes reflecting the earnings potential of the underlying securities (Brown 1971, 36-37, 40-41, and 44-51). With the securities market valuation of a companys share (equity) inextricably linked to the earnings per share, the emphasis is placed on the dynamics of accounting as reflected in the income statement. The Companies Act of 1928 and 1929 explicitly reflect this accounting response by requiring an income statement as a fundamental part of a set of financial statements [(Freer 1977, 18); (Chatfield 1974, 118)]; Although an audit of such statement was not explicitly stipulated, it was implied. The accounting response of this period is extension of accounting disclosure [(Chatfield 1974, 118); (Blough 1974, 4-17)]. The Wall Street Crash of 1929 and subsequent market failures constitutes the environmental stimulus. In the U.S.A., the Securities Act of 1933 and then the Securities and Exchange Act of 1934 were enacted, providing for a significant involvement of the government in accounting. Stage 3- This period is characterized by the social awareness that business as well as government must be held socially accountable for their actions. Business can transfer certain costs to other segments of society, thus business benefits at the expense of society; and government can not only squander hard earned dollars but through its policies affect adversely the welfare of various segments of society. This awareness is epitomized in the thesis posited by Mobley [1970, 763]: The technology of an economic system imposes a structure on its society which not only determines its economic activities but also influences its social well-being. Therefore, a measure limited to economic consequences is inadequate as an appraisal of the cause-effect relationships of the total system; it neglects the social effects. The environmental stimulus of corporate social responsibility evoked the accounting response of socio-economic accounting a further extension of accounting disclosure. The term socio-economic accounting gained prominence in 1970, when Mobley broadly defined it as the ordering, measuring and analysis of the social and economic consequences of governmental and entrepreneurial behavior. Accounting disclosure was to be expanded beyond its existing boundaries beyond the normal economic consequences to include social consequences as well as economic effects which are not presently considered (Mob1ey 1970, 762). Approaches to dealing with the problems of the extension of the systemic information are being attempted. It has been demonstrated that the accounting framework is capable of generating the extended disclosures on management for public scrutiny and evaluations [(Charnels, Co1antoni, Cooper, and Kortanek 1972); (Aiken, Blackett, Isaacs 1975)]. However, many measurement problems have been exposed in this search process for means to satisfy the systemic information requirement of this new environmental stimulus [(Estes 1972, 284); (Francis 1973)]. Welfare economics, as a discipline, has always been concerned with the social consequences of governmental and entrepreneurial actions, but the measurement and communication problems are, and always have been that of the discipline of accounting (Linowes 1968; 1973). The Conceptual Framework: A Continuing Process Presented above, the stimulus/response framework exhibiting structural adequacy, internal consistency and implemental practicality has demonstrated, unequivocally, its effectiveness over the centuries. The systemic information of financial accounting is the connective tissue of time in a financial perspective. The systemic information of managerial accounting is non-connective, but rather reflects events in a decision-making perspective. This can be best illustrated in the table below: (Draw a table) The process of concept-formation is a special type of learning. The formation takes time and requires a variety of stimuli and reinforcements. The process is never fully determinate for even when the concept is well, it can suffer neglect or inhibition and it can be revived by further reinforcement or modified by new stimulation (Emphasis added.) (Meredith; 1966, 79-80). A body of concepts and interlocking measurement and communication processes (types of information stocks and flows; constraints on information allowable values and methods of measurement; media of communication quantitative and qualitative) has been developed over the centuries. This set of concepts and interlocking measurement and communication processes has emerged as responses to specific stimuli at specific points in time to satisfy specific information needs. It is this body of concepts and interlocking measurement and communication processes, which is subject to amplification and modification that constitutes the conceptual framework of accounting. Possibly, with other modifications or amplifications deemed necessary, the conceptual framework as presented above can serve as an expressly established framework to enable preparers and auditors to make decisions, which would conform and be upheld, about accounting issues that are not specifically covered by FASB standards or authoritative literature. A conceptual framework is necessary because in the first place, to be useful, standard setting should build on and relate to an established body of concepts and objectives. A soundly developed conceptual framework should enable the FASB to issue more useful and consistent standards over time. A coherent set of standards and rules should be the result, because they would be built upon the same foundation. The framework should increase financial statement users understanding of and confidence in financial reporting, and it should enhance comparability among companies financial statements. Secondly, new and emerging practical problems should be more quickly solved by reference to an existing framework of basic theory. It is difficult, if not impossible, for the FASB to prescribe the proper accounting treatment quickly for situations like this. Practicing accountants, however, must resolve such problems on a day-to-day basis. Through the exercise of good judgment and with the help of a universally accepted conceptual framework, practitioners can dismiss certain alternatives quickly and then focus on an acceptable treatment. Over the years numerous organizations, committees, and interested individuals developed and published their own conceptual frameworks. But no single framework was universally accepted and relied on in practice. Recognizing the need for a generally accepted framework, the FASB in 1976 began work to develop a conceptual framework that would be a basis for setting accounting standards and for resolving financial reporting controversies. The FASB has issued six Statements of Financial Accounting Concepts that relate to financial reporting for business enterprises. They are: _ SFAC No. 1, Objectives of Financial Reporting by Business Enterprises, presents  goals and purposes of accounting. _ SFAC No. 2, Qualitative Characteristics of Accounting Information, examines the  characteristics that make accounting information useful. _ SFAC No. 3, Elements of Financial Statements of Business Enterprises, provides  definitions of items in financial statements, such as assets, liabilities, revenues, and  Expenses _ SFAC No. 5, Recognition and Measurement in Financial Statements of Business  Enterprises, sets forth fundamental recognition and measurement criteria and  Guidance on what information should be formally incorporated into financial statements  and when. _ SFAC No. 6, Elements of Financial Statements, replaces SFAC No. 3 and expands  its scope to include not-for-profit organizations. _ SFAC No. 7, Using Cash Flow Information and Present Value in Accounting Measurements, provides a framework for using expected future cash flows and present values as a basis for measurement. At the first level, the objectives identify the goals and purposes of accounting. Ideally, accounting standards developed according to a conceptual framework will result in accounting reports that are more useful. At the second level are the qualitative characteristics that make accounting information useful and the elements of financial statements (assets, liabilities, and so on). At the third level are the measurement and recognition concepts used in establishing and applying accounting standards. These concepts include assumptions, principles, and constraints that describe the present reporting environment. First Level: Basic Objectives As we discussed in Chapter 1, the objectives of financial reporting are to provide information that is: (1). Useful to those making investment and credit decisions who have a reasonable understanding of business and economic activities. (2). Helpful to present and potential investors, creditors, and other users in assessing the amounts, timing, and uncertainty of future cash flows and (3). about economic resources, the claims to those resources, and the changes in them. The objectives therefore, begin with a broad concern about information that is useful to investor and creditor decisions. That concern narrows to the investors and creditors interest in the prospect of receiving cash from their investments or loans to business enterprises. Finally, the objectives focus on the financial statements that provide information useful in the assessment of prospective cash flows to the business enterprise. This approach is referred to as decision usefulness. It has been said that the golden r ule is the central message in many religions and the rest is elaboration. Similarly, decision usefulness is the message of the conceptual framework and the rest is elaboration. In providing information to users of financial statements, general-purpose financial statements are prepared. These statements provide the most useful information possible at minimal cost to various user groups. Underlying these objectives is the notion that users need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements. This point is important. It means that in the preparation of financial statements, a level of reasonable competence on the part of users can be assumed. This has an impact on the way and the extent to which information is reported. Second Level: Fundamental Concepts The objectives of the first level are concerned with the goals and purposes of accounting. Later, we will discuss the ways these goals and purposes are implemented in the third level. Between these two levels it is necessary to provide certain conceptual building blocks that explain the qualitative characteristics of accounting information and define the elements of financial statements. These conceptual building blocks form a bridge between the why of accounting (the objectives) and the how of accounting (recognition and measurement). Qualitative Characteristics of Accounting Information Choosing an acceptable accounting method, the amount and types of information to be disclosed, and the format in which information should be presented involves determining which alternative provides the most useful information for decision making purposes (decision usefulness). The FASB has identified the qualitative characteristics of accounting information that distinguish better (more useful) information from inferior (less useful) information for decision making purposes. In addition, the FASB has identified certain constraints (cost-benefit and materiality) as part of the conceptual framework. These are discussed later in the chapter. The characteristics may be viewed as a hierarchy. Decision Makers (Users) and Understandability Decision makers vary widely in the types of decisions they make, how they make decisions, the information they already possess or can obtain from other sources, and their ability to process the information. For information to be useful there must be a connection (linkage) between these users and the decisions they make. This link, understandability, is the quality of information that permits reasonably informed users to perceive its significance. To illustrate the importance of this linkage; assume that IBM Corp. issues a three-month earnings report (interim report) that shows interim earnings way down. This report provides relevant and reliable information for decision making purposes. Some users, upon reading the report, decide to sell their stock. Other users do not understand the reports content and significance. They are surprised when IBM declares a smaller year-end dividend and the value of the stock declines. Thus, although the information presented was highly relevant and re liable, it was useless to those who did not understand it. Primary Qualities: Relevance and Reliability Relevance and reliability are the two primary qualities that make accounting information useful for decision making. As stated in FASB Concepts Statement No. 2, the qualities that distinguish better (more useful) information from inferior (less useful) information are primarily the qualities of relevance and reliability, with some other characteristics that those qualities imply. Relevance To be relevant, accounting information must be capable of making a difference in a decision. If certain information has no bearing on a decision, it is irrelevant to that decision. Relevant information helps users make predictions about the ultimate outcome of past, present, and future events; that is, it has predictive value. Relevant information also helps users confirm or correct prior expectations; it has feedback value. For example, when UPS (United Parcel Service) issues an interim report, this information is considered relevant because it provides a basis for forecasting annual earnings and provides feedback on past performance. For information to be relevant, it must also be available to decision makers before it loses its capacity to influence their decisions. Thus timeliness is a primary ingredient. If UPS did not report its interim results until six months after the end of the period, the information would be much less useful for decision making purposes. For information t o be relevant it should have predictive or feedback value and it must be presented on a timely basis. Reliability Accounting information is reliable to the extent that it is verifiable, is a faithful representation, and is reasonably free of error and bias. Reliability is a necessity for individuals who have neither the time nor the

Spiritual Emptiness in Hemingways A Clean, Well-Lighted Place Essay

Ernest Hemingway's short story, "A Clean, Well-Lighted Place," first published in 1933, is written in his characteristic terse, unembellished style. The definition of "Style" is "the characteristics of language in a particular story and . . . the same characteristics in a writer's complete works" (Gioa and Gwynn, "Style" 861). Short words and a curt tone are so characteristic of Hemingway's style that writers frequently parody them in "International Imitation Hemingway" contests (Gioa and Gwynn, "Style" 861). But Hemingway could only his express this story's theme -- that there is nothing beyond the here and now of daily existence, no God to embellish our lives -- in an unembellished style of writing. The somewhat empty style of this short story is not "Imitation Hemingway"; it's consistent with the story's theme of spiritual emptiness. Almost thirty lines of "A Clean Well-Lighted Place" are pure dialogue with few clues, other than what is said, about who is speaking. In the rest of the story, the percentage of words with more than two syllables is very low. Some biographers point out that Hemingway learned his rules of writing working for the Kansas City Star, whose style-book admonished reporters to "Use short sentences. Use short first paragraphs. Use vigorous English, not forgetting to strive for smoothness" (qtd. in Desnoyers 2). Was the curt style of "A Clean, Well-Lighted Place" caused only by Hemingway's having learned writing from a newspaper style-book? He later said about those newspaper rules, "Those were the best rules I ever learned for the business of writing. I've never forgotten them. No man with any talent, who feels and writes truly about the thing he is trying to say, can fail to write wel... .... "One True Sentence." The Longman Masters of Short Fiction. Eds. Dana Gioia and R.S. Gwynn. New York: Longman, 2002. 375-376. Desnoyers, Megan Floyd. "Ernest Hemingway: A Storyteller's Legacy." The Ernest Hemingway Collection. 12 December 2002. John F. Kennedy Library and Museum. 20 August 2003. . Gioia, Dana, and R.S. Gwynn. "Ernest Hemingway." The Longman Masters of Short Fiction. Eds. Dana Gioia and R.S. Gwynn. New York: Longman, 2002. 370-372. Gioia, Dana, and R.S. Gwynn. "Style." The Longman Masters of Short Fiction. Eds. Dana Gioia and R.S. Gwynn. New York: Longman, 2002. 861-862. The Hemingway Resource Center. "Ernest Hemmingway Biography>Key West." The Hemingway Resource Center. LostGeneration.com. 20 August 2003. .

Achilles Respect for Authority in The Iliad :: Iliad essays

Achilles Respect for Authority in The Iliad Respect for authority plays an important role in The Iliad. Achilles is a major character in it whose views on authority change throughout the book. In Book One, he seems to have no respect for King Agamemnon. Achilles questions his judgment as well as rebelling against his authority. This is shown best when Achilles says, "What a worthless, burnt-out coward I'd be called if I would submit to you and all your orders." (Pg. 87 line 43-45). This is an outright lack of respect directed toward Agamemnon. By Book Twenty-four however, his views seem to have changed. Achilles talks to King Priam of Troy with respect. An example in Book twenty-four is when Achilles and King Priam weep together over their losses. Book One portrays Achilles as an individualist. This was the accepted way of life in the Bronze Age, which is when Achilles lived. The people who lived in Greece during that era were very selfish and self-centered. Achilles is not the only character in The Iliad who acts this way. Agamemnon, king of the Greeks, is also a very selfish character in this epic poem. The conflicts between these two major characters have catastrophic results. Because Agamemnon doesn't want to give up Chryseis, his war-prize, Apollo cast a plague on the Greeks. Achilles goes to Agamemnon and asks him to return the girl to her father so the plague will end. He agrees to return her, but he doesn't want to be left empty-handed. He returns Chryseis to her home, and he takes Briseis, a war-prize of Achilles. Achilles is so angry with Agamemnon that he vows to stop helping him fight the Trojans. As the battle goes on, Agamemnon realizes how important Achilles and his Myrmidons are to the Achaean troops. The King of the Greeks then swallows his pride and offers gifts to Achilles if he will come back and help fight. Achilles, however, is so stubborn that he refuses all the gifts and will not allow his troops to fight. When he is offered the gifts he rudely responds, "I hate the man [Agamemnon] like the very gates of death who says one thing but hides another in his heart."(Pg. 262 lines 378-379) This quote shows how much

Free Essays: The Vivid Imagery of Homers Odyssey :: Odyssey essays

The Vivid Imagery of Homer's Odyssey In the epic the Odyssey by Homer (translated by Robert Fitzgerald) one of the most descriptive and best written passages in the entire epic is "The Slaying of the Suitors" (book 23 lines1-62). This is a good passage for many reasons, one of these is that it is a part of the story that has been built up and anticipated by all. Another is the vivid imagery used by Homer. There is one more reason, this being the tone of the passage. The tone of this passage is very important to it and adds very much to it. One of the most talked of conflicts in the Odyssey is the suitors ravaging the possessions and house of Odysseus. They were able to do this because he was presumed dead and they didn't worry about him coming to protect his house and family. The impact of the passage in question is so important because it is when Odysseus returns to his home and kills the suitors. This is a large part of the final resolution, it al begins with this, for once the suitors are gone Odysseus is free to reclaim is post in society. It also gives the reader a great feeling of elation that the suitors who are terrorizing the house of Odysseus. A quote that really gives a good idea of the overall impact and resolution that this passage gives is as follows "You yellow dogs, you thought I'd never make it home from the land of Troy. You took my house to plunder, twisted my maids to serve your beds. You dared bid for my wife while I was still alive. Contempt was all you had for the gods who rule wide heaven, contempt for what men say of you hereafter. Your last hour has come. You die in blood." (page 410 lines 37-43). This quote gives a good impression of the closure that is given by this passage, included for this purpose, because it give Odysseus his revenge, the suitors will die in disgrace, Odysseus has finally returned to claim his place. The dominant impression created by this passage is summed up in the quote above, vengeance, elation at the deaths of the suitors and the felling that Odysseus is back and he's not

Balanced Scorecard Essay

1. State your organization’s supply chain strategy, e.g., â€Å"to provide customerwith high level of service while contributing to corporate profitability.† The company’s supply chain strategy is â€Å"to meet customer needs and advance our technology leadership while creating value for our customers at large. â€Å" 2. Provide one or two goals for each of the four balanced scorecard categories (customer, financial, internal, learning and growth.) 3. Provide at least one performance measure to match each of your goals Please refer to the following 2 pages. Operate IFS(Integrated Finance System) in efficient and effective way to conduct serial training and guarantee most of staff members trained and aware how to use it and benefit from it. Percentage of training records 95% yearly Financial & HR to contact an IFS user survey quarterly and increase the users satisfaction survey rating Percentage of increasing comparing with last quarter 5% quarterly Financial & HR Learning & Growth Recruit, develop and retain valuable staff to hunt abundant qualified candidates for interview and recruitment in order to meet the needs of functional departments. Percentage of completing recruitment 95% quarterly HR to review most of staff’s performance and compare their salaries to benchmark in the market and make a adjustment or explanation Percentage of completing adjustment/explanation 98% yearly HR Transfer knowledge of network security to conduct serial training and guarantee most of staff members aware it. Percentage of new employees completing security awareness training 95% yearly Security & HR to conduct an exam related to the concerning issues to network security. Percentage of employees who pass the exam. 95% yearly Security & HR

The Theories from the Movie of Confessions of a Shopaholic

Instances with cultural dimension are everywhere. The very normal everyday affairs that relate to cultural field could intricately stand on behalf of, or are shaped by, wider social and cultural forces (Miller, McHoul, 1). For instance, in the movie of Confessions of a Shopaholic (2009), fashion as a significant element, including the appearances of projection, consumption and aesthetics, as well as the status of upper class, determines self-identity and expresses one’s personality and discourses. This essay will first briefly introduce the movie, followed by defining and elaborating two theories. Subsequently, two of the movie clips deemed as culture examples, each exemplifying the key notions from two scholars will be analyzed. Ultimately the essay would draw the conclusion with cultural lead ideas. According to the introduction of Metacritic (2009), the movie of Confessions of a Shopaholic (2009) mainly describes a girl named Rebecca Bloomwood who is absolutely a shopaholic. In order to achieve the dream of working for her beloved fashion magazine, she snags a job of being an economic columnist for a financial magazine, which is published by the same company. Ironically, she guides people to effectively manage money on the one hand and has loads of debts to pay off on the other hand. She has to make up lies to evade creditor’s tracking. Eventually, the comedy ends with Rebecca turning over a new leaf and celebrating both career and love after harsh introspection and self-reflection. The movie of Confessions of a Shopaholic (2009) is occupied by fashion, glamour and shopping. This refers a person with a compulsive desire to shop. This movie lightly involved gender bias and stereotypes with the terms. For instance, women who love buying are called â€Å"shopaholics†. While, occasionally, men are called â€Å"collectors† which have the same situation as women. However, the movie principally illustrates people’s desire for consumption and self-expression through styling and taste, which will be detailed by theories as following. In the movie, the view of simplified consumption is widely and reasonably acknowledged. Shopping, an approach of leisure and consuming time, offers people happiness and enjoyment. Due to the reports and evidences from Carlson (2008), it can be powerfully argued that people consume for the sake of consuming in real life. The Polish sociologist, Zygmunt Bauman (1925- ) illustrates the modern consuming in the theory of â€Å"consuming life†, based on his theory of consumerism and liquid modernity. With the heuristics understanding of consumers and â€Å"consuming life†, he discovered three ideal categories, namely consumerism, the society of consumers, and consumer culture, to demonstrate consumers as a part of the society as well as the possible relationships among them. (Patterson 4). Bauman chiefly addresses consumerism about the subjectivity of individual consumers and states the motivated role of the unfulfilled desires and unsatisfied needs. As for the second ideal type, Bauman argues the inevitable relationship between individuals and the world. In addition, ‘salability’ is coined to define the cause of social membership raised by individual’s consumption. The third ideal type, notably consumer culture, is claimed to â€Å"moves to a mes-olevel discussion of the social networks and interactions that exist within liquid modernity. †(ibid. ) In Bauman’s theory, people are believed live in the postmodern consumer society and consumption is increasing in volume. Consumer’s satisfaction is instant and delayed. As the report of Miller (33), at the moment of purchase, women are hardly satisfied in situations of purchase. The satisfaction brought by consumed goods is limited and short-term, the length of which normally should be reduced to bare minimum. However, Bauman (17) argues that the impatient, impetuous, and restive consumption would be more likely and much easier to fade off and lose interests as well, which reverses the traditional relationship between satisfactions and instant needs. At the beginning of the movie, Rebecca Bloomwood, who already has a debt of $900, is still fascinated by the green scarf that she does not really need. Finally she buys it due to her immediate desire even it is not necessary. Throughout the movie, there are numerous scenes in which she regrets for her impetuous perchance. â€Å"Do we really need another chair? † as David Report asked. They claim that things that are not really necessary cram people’s homes and people purchase them because of imputation and short time self-satisfaction (Carlson 4). Moreover, Bauman clarifies ‘consumer game’ as the excitement of sensation, which excludes the greediness of obtainment as well as the tangible sense without wealth. Consumers ought to consume rationally and in control. Desire, is regarded could be reproduce by itself, and has self-perpetuating motive. As Mark C. Taylor and Esa Saarinen once said, â€Å"Desire does not desire satisfaction. To the contrary, desire desires desire. † (Bauman 5). The movie of Confessions of a Shopaholic (2009) presents numerous and various scenes of fashion judgments. For instance, one of the clips depicts the astonishment of Rebecca, who discovers the illustrious background of her boss, whom she thought was nonentity and nobody. When asked why wearing these low-priced clothes, he answers that he does not want to be labeled by his clothes and the appearance, which says the underlying tastes and sense of fashion. Pierre Bourdieu (1990-2002), who was born in an out-of-the-way corner of southwest France, illustrates and clarifies these situations with the conception of †habitus† and the class taste. In his youth, He was cultivated in philosophy. However, after the experience of participation of the Algerian War, he transformed to be a social scientist. Nevertheless he had philosophic logic and accuracy (Grass 1) as well. In Bourdieu theory, drawn from a long-term scientific observation, cultural needs are demonstrated to be the product of upbringing and education. Cultural practices, including literature, painting or music, are closely attached to the educational level and subsequently to social origin. According to both the influence from the strongest ‘extra-curricular’ culture and the extent of the cultural practices, which are recognized by the educational system, the background and formal education could change. Therefore the manner of tastes and ‘class’ forms within the discourses as well as structures (Bourdieu 2). The different lifestyles associated with them (Wacquant 7) could be understood as the approach to categorizing and distinguishing people. In addition, the theory shows how individuals characterize and reversely define themselves to others. For instance, the upper class makes adjudication based on the mannerisms, interests and tastes (Bourdieu 2). Habitus, meaning the way that the body is shaped by discourses as well as the environment, is clearly visible through taste. Through the process of which people recognize, judge, and operate in the world, habitus successfully assigns the system of ispositions, which is shared by countless people who have similar experiences and ideas. Habitus, the mediation between both the past and present stimuli, is socially structured and is simultaneously structuring the society. The reason for Bourdieu’s exemplification of the â€Å"unchosen principle of all choices,† as well as â€Å"the product of structure, producer of practice, and reproducer of structure† to hibitus is that it provides form and unity to a range of activities of an individual by crossing the separate spheres of life. Moreover, habitus is a principle of both social continuity and discontinuity. It is social continuity because of its ability to store social forces in individuals and transport them across time and space. Furthermore, It is discontinuity in that it could â€Å"be modified through the acquisition of new dispositions and the reason† that â€Å"it can trigger innovation whenever it encounters a social setting discrepant with the setting from which it issues†. Wacquant 7). All in all, the comedy of Confessions of A Shopaholic (2009) could be intensely analyzed by culture theories. After the briefly introduction of the movie, Bauman’s theory was introduced to illustrate the conception of consumption. Moreover, the three ideal categories detail the conception and the hypothesis of satisfaction of desire, suggesting the impetuous purchase would fade off yet the desire never would. Subsequently, Bourdieu’s theory of taste classifies and categorizes people with respect to taste and education. The dissimilar manners are closely linked to the dissimilar positions in social factor, which possibly bound up with the systems of habitus of the different classes (Bourdieu 2). In fact, despite the fact that the cultural studies about â€Å"desire† as well as â€Å"habitus† has been already made progresses, it is obvious and plain that they would still be discussed and argued within a long period of time.Reference http://lists.extropy.org/pipermail/paleopsych/2006-January/004927.html http://www.metacritic.com/movie/confessions-of-a-shopaholic

Nature and scope of accounting Essay

As an introduction to the course in accounting, it may be useful to define the following terms : – Accounts : These are the financial records in the organization. Every business transaction, or accounting entity, may be represented in an account by itself, e.g. wages, telephone expense, motor vehicle, Cash at bank, Investment – Book-keeping : This is the recording of the financial transactions of a business in a systematic manner, so that relevant financial data may be extracted when needed. – Accounting : This is a more comprehensive step than book-keeping. It involves the classifying, recording, compiling, reporting and interpreting the financial activities in the organization. This allows the users of the information to make informed judgement, planning and decision regarding the organization. – Accountancy : This is the procedure or the system that must be followed when recording, reporting, and interpreting the financial activities of the organization. It involves the set of principles or rules that must be observed in order to achieve an objective view of the accounting results. Accounting in the fullest sense, is therefore the interactive and integrated process of reviewing, forecasting, planning, recording, classifying, reporting , and interpreting the financial activities in the organization. This allows the custodians to make informed judgments and decisions pertaining to the performance and financial position of the organization. It also facilitate those who may have a vested interest in the business to assess their relationship and expectations from the operations. To this end accounting information should be – Relevant : to the users so as to influence their ability to make informed decision – Reliable : free from material error and bias, giving a truthful representation of the firm – Comparable: presented in a consistent manner so at to allow for reasonable comparisons – Understandable : uncomplicated, structured, and clearly presented. – Timely : provided when needed, or on time as required by law – Unqualified : not subjected to unnecessary modifications or restrictions USES OF ACCOUNTING INFORMATION The accounting system in the organization generates a wealth of financial data that may be utilized by several interest groups. These include : – Management : Those who are entrusted with the day to day operations of the business must not only make informed decisions, but also set operating standards and then review the results. In order to do this, they must use the accounting system as their base. – Owners : The accounting system enables those who have an invested interest in the business to make an overview of the performance, as well to determine the results of their investment. – Investors : Others who have contributed to the business, either by way of financial assistance, supply of goods, or any other form of involvement, need to analyse the levels of profitability and risk involved in the business – Government : Assessment of the business operations by the government may be done for tax purposes, or to determine national income, or other statistical calculation. – Trade Union : Collective bargaining on the behalf of employees by the trade union can only be done beneficially if the union has a clear understanding of the financial position of the firm. DIVISIONS OF ACCOUNTING In order to satisfy the users of the accounting information, the accounting process may be sub-divided into broad categories : – Cost and Management Accounting : This aspect of accounting is concerned with the supply of information to the internal users, i,e, to the managers and the decision makers. It includes such activities as product costing, budgeting, systems operations, and accounting methods. This allow the users to formulate plans, set policies, make decisions, and control the operations in the organization. – Financial Accounting : This is the maintenance of the accounting records in a methodical manner and the preparation of summarized statements regarding the results of the business. This is of use primarily to parties external to the business, and gives an indication of the level of profitability and financial position of the business. – Special Reports : Some business operations may be financed or regulated by a parent organization. These operations must prepare and submit progressive reports to the regulatory body, indicating any factor that may have impacted on the results of its operations. These regulatory bodies included development banks, cooperative societies, venture capital assistance organizations, industry related organizations, and government agencies – Annual Return : Most firms must submit various types of tax or other statutory returns. These include NIS, NHT, HEART Fund, Income tax, Sales Tax ( GCT), Property Tax. Compliance to these is mandatory, although it is usually a complex procedure. Some organizations may engage the services of an attorney who specializes in business law or taxation. USES OF ACCOUNTING DATA Management Cost & Management Accounting Regulatory Bodies Statutory Agencies The Special Reports Accounting Annual Returns Process Financial Accounting (Certified By Public Accounting Auditor) Govt Trade Union Shareholders Investors Creditors General Public There are several areas of difference between financial and management accounting. Among these are: AREASFINANCIALMANAGEMENT Main UsersExternal parties, e.g. investors Creditors, trade union, gov’tInternal parties, e.g. managers, owners Time OrientationReview of the pastForecast of the future AccessAvailable to any partyAvailable to insiders only Restrictions Presentation FormatsStandard financial StatementsWhatever format most suitable View of the Organization Condensed view of the organization as a Detailed view of segments or activities whole RegulatoryRegulated by ruling of bodiesNo significant regulatory Restrictionssuch as IFRS, ICAJ, as well asRestrictions the Companies Act PurposeInformation disclosureDecision making and control CONCEPTS OF ACCOUNTING Certain fundamental concepts provide a rule or framework for the recording and reporting of business transactions. These may also be termed as principles, assumptions, or standards. Among them are : The Accounting or Business Entity Concept: Each business enterprise should be regarded as a separate and distinct unit from the other economic or personal affairs of the owners. Thus the information compiled by the business unit should only relate to the activities of that enterprise. The Historical Cost Concept: Resources should be maintained in their accounts at their original cost, not at the periodically revised or market value. Adjustments to the cost, e.g. depreciation, should therefore be shown in a separate account. The accumulative effect of these accounts may be determined when the balance sheet is being prepared. The Going Concern Concept: It is assumed that the business unit will continue for a lasting period during which time it will be able to fulfil its objectives. Thus, interim liquidated values are not shown when preparing the balance sheet. This assumption would not apply if the firm’s continued existence can not be established by fact, e.g. If faced with a legal injunction, anticipating liquidation, on the expiration of a contract, or in the event of a buyout or takeover. The Money Measurement Concept: Accounting transactions and the summary of their results can only be measured in monetary units. Thus, those activities or situations that are not measurable in a monetary sense would not be reflected in the accounts. These include the firm’s industrial relations, management styles, or industry position. The net value of these situations, however, may be classified as goodwill when the firm is being re- valued, or being sold as a going concern. The Accrual Concept: Revenue and expenses must be accounted for during the period when they occurred, and not necessarily when they were honoured. Thus, income is calculated from revenue and expenses incurred, not from those actually paid for. The Dual Aspects Concept: There are two aspects to every accounting transaction, one shows the gains realised and the other represents the claims that may be made against these gains. From this concept comes the double entry principle, i.e. for every debit (Dr) entry there must be a corresponding credit (Cr) entry. The Realisation Concept : Income is regarded as being earned at the point when the legal property, or the claim, in goods has passed from the seller to the buyer. This may be different from the point when the order was received, the delivery was made, or payment completed. This, however, is determined by the terms of contract. The Materiality Concept: On-going accounts are only maintained for those items or activities that by themselves will make a significant impact on the business. These are called assets or liabilities. Immaterial or complementary items or activities are written off as expense or revenue at the end of each accounting period. The Prudence Concept: Accounting systems should allow for the reporting of the minimum value of income. Thus, total expenses include non-cash items such as depreciation, bad debts, and other provisions. The Substance Over Form Concept: The benefits from, or material substance of a resource should take precedence over the legal form of ownership. Thus, the firm may be in possession of an asset that is being used in the business but which has not yet being paid for. For example, an equipment may have been bought on hire purchase or acquired by way of a lease, and as such the asset does not legally belong to the firm until it is paid for. However, the material substance of the equipment must be shown in the books, and this takes precedence over the legal form in it. The Time Interval or Periodicity Concept: The firm should prepare a set of final accounts in order to take a reading of its performance and financial standing from time to time. This is required although the business is regarded as a going concern. This periodic reading of the business allows management to exercise informed assessment and control over the affairs of the business. The Full-Disclosure Concept: Although the financial statements are concerned with the last accounting period, it should also take into consideration any future events that may have an impact on the firm’s financial position. Thus a disclosure should be made for eventualities such as a pending lawsuit, on-going negotiations for sales, disposal, acquisition or take-over, or changes in the accounting methods being used. These disclosures are usually listed as explanatory footnotes. The Objectivity Concept: The accounting transactions recorded in the firm’s books should be supported by objective evidence or by a basis of origin in fact. This includes such documentation as sales invoices, payment vouchers, cash receipts etc. Thus there should be a basis by which the transactions can be verified. This is usually required whenever an audit is being done. The Consistency Concept: The methods that are used in the recoding and reporting of accounting transactions should be unchanged over the course of the business, unless it is governed by some new rule or mode of operations. Changes result in a distortion of profit, thus objective comparison or analysis would not be allowed.