Cleanliness Champions

Hand Decontamination With the outbreak of antibiotic resilient infections, infection control is becoming a major concern for health groups all over the world (WHO, 2011). The risk of infection can be reduced by using three types of hand washing known as social, hygienic and surgical methods (HAI, 2011). Social hand washing is a useful method for removing dirt and transient micro-organisms. Using soap or an alcohol-based gel if hands are not soiled, vigorously clean your hands using the eight stages of hand-washing.This can stop transmission of the transient micro-organisms when in direct contact with patients (NHS, 2009). Alcohol-based hand rubs or gels should not be used alone when infection is present as this alone will not kill the spores for infection such as clostridium difficile. After washing hands must be dried properly as failure to do this can increase the transfer of bacteria (Nottingham University Hospitals, 2011). Hygienic hygiene not only removes transient microorganism s but also reduces resident microorganisms.This is used when preparing to work in a sterile environment, during an outbreak situation or following contact with bodily fluids. Use an antiseptic hand cleanser when washing and vigorously follow the eight steps of hand-washing. After drying properly then apply an alcohol-based hand rub and repeat the eight stages (NHS, 2011). Surgical scrubbing is a longer and more thorough antiseptic wash of both the hands and forearms. Before a surgical procedure this method is designed to remove as many of the micro-organisms as possible.It involves systematic washing and scrubbing of the hands and forearms using the most effective antibacterial cleansing agent available. Sterile gown and glove procedures are performed following the surgical scrub (NHS, 2010). Effective hand washing can break the chain of infection which is known as: the infectious agent, reservoir, portal of exit, mode of transmission, portal of entry and host. If the chain remains intact then infection will develop, therefore, nurses must wash their hands before, during and after ontact with a patient and their environment. This will consequently stop the infection progressing while ensuring micro-organisms do not build up in the environment. Direct and indirect contact transmission involves contact with a contaminated object which may be unwashed hands or gloves that are not changed between patients (HAI, 2011). One of the main principles of good hygiene is the use of personal protective equipment as this forms a skin barrier. It is important to ensure the equipment is intact and decontaminated.The decision to use or wear personal protective equipment must be based on risk assessment associated with the patient care activity or intervention. Personal protective equipment includes: gloves, masks, eyewear, caps, gowns, aprons and other items (HAI, 2011). The Healthcare Associated Infection (HAI) advises that gloves be worn whenever there is a reasonable likeli hood that hands will be in contact with blood or other potentially infectious material, mucous, non-intact skin or when handling contaminated items or surfaces.The safe use and disposal of sharps is essential in protecting each and every individual from contamination and injury. The sharps bin can be used to dispose of medical supplies such as needles and syringes. After the use of needles they must be immediately disposed of in the sharps bin (NHS, 2011). All healthcare workers must be aware of their responsibility in avoiding needle stick injuries (NHS, 2007).

Antibiotic Sensitivity Lab

Antibiotic Sensitivity lab A. Define the term selectively toxic. Why is it an important feature of antimicrobial agents? Selective toxicity is the ability of a chemical or drug to kill a microorganism without harming its host. Selective toxicity is important to microbial agents because it enables these agents to inhibit or kill a microorganism by interacting with microbial functions or structures different from those of the host thereby showing little or no effect to the host. B. What are broad and narrow spectrum antimicrobials? What are the pros and cons of each?Broad spectrum antimicrobials are drugs that are effective against a wide variety of both gram positive and gram negative bacteria. Narrow spectrum antimicrobials are effective only against gram negative bacteria. Pros and cons of each: Narrow spectrum microbial is normally better to use because they cause less damage to the body's normal flora. They are less likely to cause drugs resistant strains of microorganisms because they are specific in nature and are less likely to cause super infection by opportunistic microorganisms like yeast infections.The main disadvantages are that Narrow spectrum microbial sometimes is more prone to allergic reaction to the host. Broad spectrum antimicrobials on the other hand also have their own advantages in that they are able to deal with more than one kind of bacteria and as such one does not have to use drugs indiscriminately reducing chances of allergic reactions and drug toxicity. The main disadvantage is that they cause more harm to the body's normal flora. C. What is direct selection? Direct selection is the selection of antibiotic-resistant normal floras in an individual whenever this individual is given an antibiotic.This process is normally accelerated significantly by either improper use or the overuse of antibiotics. D. What is the difference between an antibiotic and an antimicrobial chemical? Antibiotics are substances that are produced as metabolic pro ducts of one Microorganism which are able to inhibit or kill other microorganisms. Antimicrobial chemicals are chemicals that are synthesized in a laboratory and can be used therapeutically on microorganisms. E. What is the mode of action for each of the following: a. acitracin: works by inhibiting peptidoglycan synthesis in actively dividing bacteria which normally results in osmotic lysis. b. nystatin: exerts its antifungal activity by binding to ergosterol found in fungal cell membranes. Binding to ergosterol causes the formation of pores in the membrane. Potassium and other cellular constituents leak from the pores causing cell death. c. tetracycline: exert their bacteriostatic effect by inhibiting protein synthesis in bacteria. This antibiotic prevents transfer-RNA (tRNA) molecules from binding to the 30S subunit of bacterial ribosomes. . ciprofloxin: Contains agents that inhibit one or more enzymes in the DNA synthesis pathway F. Describe three mechanisms by which microbes mig ht become resistant to the action of an antimicrobial drug? Microbes may become resistant by producing enzymes that will detoxify or inactivate the antibiotic such as penicillinase and other beta-lactamases. Microbes may also alter the target site in the bacterium to reduce or block binding of the antibiotic in the process producing a slightly altered ribosomal subunit that still functions but to which the drug can't bind.Microbes may also prevent the transport of the antimicrobial agent into the bacterium thereby producing an altered cytoplasmic membrane or outer membrane. G. Why do you think neglecting to finish a prescribed course of antibiotics might contribute to the rise of antibiotic resistance? If you don't finish the medication, all the bacteria causing the infection may not be killed. Then, the infection could come back in that same place or even show up somewhere else. When the bacteria are undertreated, some of them may have enough time to have these mistakes occur in th eir DNA.Then, when they multiply, you get a bunch of bacteria that no longer respond to the antibiotics. H. What is a tube dilution test? How is it used to determine susceptibility? Tube dilution test is one of the tests that can be used to tell which antimicrobial agent is most likely to combat a specific pathogen. This test is conducted by preparing a series of culture tubes where each tube contains a liquid medium and a different concentration of an antimicrobial agent. These tubes are then inoculated with the test organism and then incubated. After the incubation they are examined for growth.I. Define the following: a. Minimum Inhibitory Concentration (MIC): this is the lowest concentration of antimicrobial agent that is capable of preventing growth of the organism undergoing the tube dilution test b. Zone of Inhibition: this is the area surrounding the high potency disk of a chemotherapeutic agent where growth is inhibited in an agar diffusion test. J. What were the results of the Kirby-Bauer test for S. epidermidis? S. epidermidis was sensitive to Novobiacin S. epidermidis was resistant to Penicillin S. epidermidis was intermediate in the case of Gentamicin

1948 by George Orwell

1948 by George Orwell Essay In 1948 Eric Blair, better known as George Orwell, wrote a book with chilling insights into the future, 1984. In that book he describes in detail how the government of Oceania manipulated the truth and regulated feelings and thoughts. An irrational future for society, perhaps not even today in the media there are ways of lying to us and making us think what they want by showing us what they want us to see. In 1984, Thought Police watch the people through telescreens, microphones and helicopters. Many people do not believe this will come true because they do not see it happening. However, it is entirely conceivable that the government could be watching us now. Perhaps, though only on a small scale. Internet surveillance is one of the hottest subjects within this notion, and some people are very good at it. The people watching probably would not go directly into your account, which would be as illegal as entering your private room without a warrant. However, they could easily watch the packets of information running through their systems and rebuild the your private E-mail, or newsgroup transactions, piecing those together can be detrimental to you, as well as legal for the watcher. In order to change the future and the present you do not need to own a time machine. You simply have to control the past. In 1984 the government, or â€Å"The Party,† controlled the past. They were able to destroy all proof that something did or did not happen. The Party† was able to destroy all of the references that something, even a person, ever existed. Although one may remember that person, they could never find proof that it was true. The most alarming part about this is that it is much easier to do it in the world today. Since most information is now kept on disk, and backed up onto even more magnetic media, one could simply destroy all areas where the data said that someone had existed. Talk about a missing person. Our government is taking steps towards this type of Orwellian society all the time. It is hard to believe, but just look at recent legislation. It first started with the advent of the Social Security System. We now are required to receive serial numbers before a certain age so that we can be catalogued for this service, which I might add we will probably never receive. This seemingly innocent indexing of people has turned into a major privacy crisis. Our Social Security number is now used for everything. When one goes to college they use their number there. When you apply for a credit card or any service like this you use this number. We now have problems with people looking up our credit history using this one number. They do not even need our permission. At the time it seemed like a great idea. Which is probably how we will be duped in the future. If it isn’t bad enough that they admit they want to catalogue their citizens, our government basically admits that they need to watch them as well. There was a bill sent through Congress, which would force telecommunication companies to place a chip called the Clipper Chip into all of their products. This chip would allow the government, with two electronic keys, to watch our telecommunication transactions. They also passed an act called Digital Telephony. This bill states that the government will give a certain amount of money to large telecommunication providers (telephone mostly) to rework their networks so that the government’s men can attach themselves and listen to our private conversations. Let me repeat myself here, they are using OUR money to watch us. It is great that they can catch a criminal easier but it is not worth it to loose that freedom and live in fear. READ: The Dream that Became the Demise EssayWhile we in the U. S. are busy at our jobs in the rat race, the government is pulling the wool over our eyes. They are working towards ways to keep us in line. I don’t know if there is a great conspiracy against us. All I know is that we are being taken as suckers, and pretty soon we will have no privacy to think of. We must work to stop the evolution of these and all other destruction of privacy. We cannot allow ourselves to lose what little freedom we have left, and most of all we must always be able to say that 2+2=4 and never have to utter that, we are the dead.

Risk management and international finance Assignment

Risk management and international finance - Assignment Example The main advantages of these methods including variance is that they allow individual forecasting on the default risk conditions that a company may be subjected especially in terms of loan and macro variables (Apel and Jansson, 1999; Pg. 381). The study will also be vital in determining the portfolio credit risk of the selected institutions over time. In addition, the approach and formulae to be applied will be vital in assessing the extent through which new accords may be applied to towards achieving increased credit risk sensitivity within a minimal capital charge (Ganguin and Bilardello, 2005; Pg. 186). Finally, the study will be vital in comparing the current capital requirement of banks under the proposed Basel system thereby comparing the underlying provision with the suitability or applicability of the same to the Marylebone Bank. Banks are usually vital in driving economy especially due to their saving roles as well as providing capital and credit facilities. Nonetheless, other than government regulation and supervision, the deposit capitals usually require a limit risks for the depositors. These limited risks will ensure that systematic and insolvency risks are reduced. Additionally, these regulations and measures are fundamental in providing restrictions on the working and operation of banks (Morris and Morris, 2005; Pg. 79). Therefore, their vital aspects are to control unnecessary capital requirements by restraining credit provision on needless situation or creditors. Moreover, the same regulations and provisions control the level of capital where inadequate capitals are discouraged since they may lead the bank into undesirable systematic risk levels. The Basel Capital accord was adopted in the year 1988 since which in had an international framework and recognition that applies until today. A group of central banks among other national supervisory authorities initiated the accord.

Was the Falklands a vital factor in Thatcher's political survival Essay

Was the Falklands a vital factor in Thatcher's political survival - Essay Example Britain in reaction to this, established a navy task force to attack the Argentine navy and the air force. Their main aim was to put in place an amphibious operation which would assist them to win back the Islands. On June 1982 Argentina surrendered leaving the Islands under the control of the British. This brought the conflict to an end. A total number of 907 people perish during the attack; among these were 255 British and 652 Argentine most of who were soldiers, sailors, and airmen. In addition, several people got injured and three islanders also perished. The two countries had a strong case which was inconclusive. Even though the British argued that they had put the international law into consideration it was not well-founded. According to Gamba (1987) an analysis made with the involvement of the Government, the Royal Navy and Parliament It showed that several impertinent factors and pressures majorly determined the decision of the task force being sent to south Atlantic. The gov ernment survival threat due to the argentine invasion factor greatly determined how the conflict was conducted. This situation had a great impact on Thatcher survival in office hence; all the actions put in place was mainly to favour her. Despite the various achievement of the British military the Falkland’s crisis was not solved appropriately The main focus in this paper is the impact of international war participation on political leader’s survival in office. The relationship that exists between the performance in war and the fate of political leaders afterwards is of great significance. In most cases leaders who involve their nation in war are more likely to be faced with domestic political hazard which may interfere with their retention of political power. As compared to the democratic leaders, the authoritarian leaders incline to war for a longer durations when they successfully come to power. In addition, democratic leaders are involved in wars which have lower c hances of defeat than the authoritarian leaders. In this case, Margaret Thatcher is central to all the events that took place in the Falklands conflict. The British Prime Minister was criticized by the British press after she invaded the Argentine Falkland Islands. She was perceived as having been slow in reacting to the situation. This greatly affected her political fortunes. Prior to the war, it was uncertain that Thatcher and her party would be re-elected. However, a year later after she managed to repel the argentine forces successfully, Thatcher together with her party was returned to by a large majority to the parliamentary power in the general election that took place in 1983. The Falkland conflict had political impacts that were strong in the two countries. In Britain, Margaret Thatcher was under pressure from the parliament and she had to utilize this opportunity in order to ensure she survived in office. On the other hand, in Argentina Galtieri's Junta opted to invade the Falkland’s for political survival while considering the domestic situation in his country. The intention In most cases armed conflict is pursued with specific intentions which include; obtaining the just causes objects, to correct the impact of aggression and injustice, to pursue peace and reconciliation in the presence of conflicts, and to immediately bring hostilities to an end. The British government Margaret Thatcher being

Organization Behavior - 3 Essay Example | Topics and Well Written Essays - 1250 words

Organization Behavior - 3 - Essay Example An open system focuses on the throughputs that are taken from the environment. The throughputs are then given back to the environment and in this way; the open system completes its cycle. The open system perspective plays a key role in determining the organizational effectiveness in a sense that the system receives inputs from the environment and its outputs are accepted from the external environment. The open system exchanges the feedback with the external environment of the organization, which helps the organization determine its effectiveness. The feedback, which is exchanged with the external environments, is analyzed in order to determine the changes that are needed to achieve the organizational goals and objectives. Therefore, we can say that the open system perspective is one of the integral perspectives of an organizational effectiveness because it helps the organization achieve its goals in a successful manner. There are five basic types of behaviors included in the organizational behavior literature. The types of behaviors include task performance, organizational citizenship, counterproductive work behaviors, joining and staying with the organization, and maintaining work attendance. All these types of behaviors are of significant importance for the success of an organization. Task performance refers to those goal-directed behaviors that are under the control of individuals. This type of behavior is used to transform the raw materials into the finished goods. If we take example of employees, we can say that employees usually have more than one dimensions for performance. In task performance behavior, all of the dimensions are analyzed in order to evaluate the employee’s performance. In my view, task performance behavior is one of the most significant behaviors because this behavior is directly related to the performance of employees. Organizational citizenship behavior

Business Essay Example | Topics and Well Written Essays - 500 words - 35

Business - Essay Example The success of Apple Inc. is characterized by innovativeness, acquisitions, and product diversification. Apple Inc. is a company that has grown to a multinational with a great reputation across the world. In its path, innovation strategies, product diversification, and acquisitions have contributed greatly to its success. Apple Inc stands on the philosophy of â€Å"think different† which means the company is focused on innovation (Apple Inc, 2014). Apple has been consistent in the development of its products; they have embraced changes in several occasions hence developing products that have hit the market by storm. Another strategy the company has adopted is diversification. When the company was started, its sole mandate was to develop and sell personal computers. However, over time the company has diversified shifting from this role to that of developing and selling consumer electronics such as mobile gadgets, televisions, and iPods among others. The strategy utilized by Apple Inc is the differentiation strategy. Apple Inc. has developed various mechanisms to have a superior brand that differentiates itself from the competitors. The company’s innovativeness, leadership, and ability to embrace diversification of products characterize these strategies. In the electronic industry, Apple Inc. has created a respectable brand that people have confidence with. It has attracted technology enthusiasts and those in need of certain aspects in electronics. Creating an impressive brand promotes customers’ loyalty and presents psychological benefits to them. By remaining innovative and establishing new products that are unique from those of the competitors, the company is able to foster customer retention and hence brand loyalty. Various information systems are likely to give the company a competitive advantage over the rest. Such include the ability to use the social media platforms to market and create product awareness.

Analysis of Cloud HR Solutions for SMEs in Hong Kong Dissertation

Analysis of Cloud HR Solutions for SMEs in Hong Kong - Dissertation Example Cloud solutions have brought significant changes in the manner in which organizations run their applications and store their data from the conventional desktop network into servers which can be accessed remotely through the internet. Cloud solutions are technological revolutions which have a considerable effect on all the areas of IT industry as they allow companies to access applications and information at any time from any location all over the globe. Based on this dramatic change of technology, the present research seeks to investigate the aspects that impact the adoption of solutions based on cloud services by SMEs in Hong Kong. It has been noted that numerous studies or empirical researchers have focused on the global market, bigger enterprise as well as industry leaders; however, this paper will concentrate on SME instead of bigger organizations since the constraints they face differ from those of bigger businesses. Approximately 320,000 SME exist in Hong Kong and they have employed more than one million people accounting for forty-seven percent of the total employment when civil servants are not considered. In the globalized and competitive world, this study seeks to provide a platform for HR practitioners as well as business owners to appreciate the manner in which their companies achieve their HR goals, hire and motivate their workers along with how they manage staff performance, training, and organizational changes through the HR solutions already in existence to embrace cloud technologies so that the companies can be more competitive.

Racism in Britain Essay Example | Topics and Well Written Essays - 1000 words

Racism in Britain - Essay Example The British national self and race is constructed in relation to the other nations. Cultural differences are irreducible, and they revealed the ambivalence and hybrid nature of racism. Critics state that "The positing of ethnic origin raises the issue of the targets of racism being diverse and not restricted to groups defined in racial terms" (Anthias, Lloyd, 2002. p. 8). According to the nature of racism in Britain the great influx of immigrants had eroded homogeneous national identities, or rather the traditional, received instructive images and narratives of national homogeneity, and had thereby revealed the poor image of non-white race. Racism is akin to culture and religion rather than ideology in their depth and extent. The British nation is best seen as an imagined political community, at once sovereign and spatially finite-imagined. But once created, this imagined communion of the nation represents a powerful sociological reality as a community imagined to move in linear fashion through 'empty, homogeneous time. Critics and historians single out the following causes of racism in Britain. In Britain, racism can be explained as: "not just presence of physical differences between groups that creates races, but "the social recognition of such differences as socially significant or relevant" (Van the Berghe, 1967 cited Yassine, n.d.). The assumption that the root causes of these wars lay in antagonisms not only had its political and diplomatic uses therefore, but it also diverted attention from what really needed to be explained: how was it that these political elites were able to arouse people who had been living for generations in multi-ethnic, multilingual and multi-religious communities to such extremes of racism. Researchers suppose that "frustration-aggression" and "authoritarian personality" theories help to explain racism in Britain. A part of the explanation lies in the particular techniques and strategies which are deliberately employed by political leaders to turn these materials into a powerful resource for advancing nationalist claims. [They] "explain racism as a type of relief from "frustration", where a "scapegoat" may become the object of aggressive behaviour" (Yassine, n.d.). The failure, or refusal, of British public institutions to recognize the impact of political and economic change on the development of ethnic and national sentiment has made it easier for these British nation to ignore, or fail to give serious causal weight to, the role of racism in using ethnicity and religion to mobilize, polarize and radicalize larger target groups. Immigration is seen as another cause of racial ideas and prejudices existed in British society. "Immigrants from the 'New Commonwealth were not welcomed, or effectively woven into the fabric of a polyethnic, multicultural society" (Yassine, n.d.). For this reason, many British citizens do not respect other nations who come to their country looking for better life. In general, even if British society can be shown to have common values, they might be morally unacceptable. Inequality is a shared value in slave-owning, racist and caste-based societies, but historians would not wish to argue that it should therefore be cherished let alone enforced on their egalitarian minorities. Besides, the core values of any society

E-government & social inclusion. Critically assess policies of digital Essay

E-government & social inclusion. Critically assess policies of digital inclusion in the UK Digital Britain Final Report (2009) and compare them with policies in Singapore - Essay Example Digital Britain Report recognizes the fact that Digital Life Skills are central to the sustainability of the UK economy in general and of the marginalized sections of the society in particular (2009). Digital Life Skills are the cardinal participative tools that will eventually determine the success of all the government policies targeted at the upliftment of the socially and digitally excluded segments of the masses. Digital Life Skills stand to be the credentials that enable the citizens to have an equitable access to public services and economic opportunities in the sphere of social inclusion, employment and education. The report establishes beyond doubt that though the proportion of the people lacking in basic ICT skills has gradually dwindled over time, still a considerable chunk of the British population stands to be digitally excluded (2009). This lacuna deprives them of having an effective access to state portals of service and aid, thereby aggravating their sidelined plight in the attribution of opportunities and benefits. Therefore, the report calls for a sincere and concerted effort towards the enablement of digitally excluded segments of the society that are either unable to or do not know how to go online (2009). The report envisages the extermination of barriers that curtail the opportunities for the weaker sections of the society. It unequivocally conveys that the opportunities for the weaker sections of the society can be augmented and increased by the democratization of the ICT skills. This will enable the people to improve the quality of their life, better their employment prospects and uplift their communities. The digital infrastructure and literacy ought to be ubiquitous and universally accessible. This calls for the envisaging of steps that assure the incorporation of the marginalized groups within the ambit of digital

Paris and Peace Essay Example for Free

Paris and Peace Essay Serene tried to remember the last time she and her cousin, Tina actually behaved like family, but she had to make a truce with her nonetheless. This truce was her ticket to freedom in a new city, a new country and the action necessary to please her parents. Tina was now her roommate. Selena knew her parents would never have allowed her to study Philosophy in Chicago without a chaperone. Tina fit that role in Serenas new life, but how could it be new with these old world requirements? Her parents believed that she was irresponsible, always allowing her taste for life and excitement to cloud her good judgment. Her mom and dad always wished that she would be more traditional and docile, but she had always defied that logic in her quest for her own female freedom. They were reluctant in sending their only daughter in a land known for its schmoozing and adulterous love affairs. Nonetheless, she was allowed to live away in Chicago and spend her summers alone in Lebanon. She was making her own money and felt like an independent American here, as well. Back then she knew that if they had said â€Å"no,† to this quest she would still find a way to fund her trip and defy her parents. Serena was the type of girl, who had a reputation for always winning, but without Tina accompanying her on her first big journey, the family wouldn’t allow her victory to be totally complete. Serene knew all too well that once they arrived in Rome Center, she and Tina would be living separate lives. While Tina would befriend everyone she possibly could, Serena would resolve to make a few good friends to accompany her in her nightly city adventures. She cleared her throat. She really had to say something. â€Å"Just so you know,† she began. â€Å"You won’t have to check on me every now and then. Do you understand me? † â€Å"I understand you perfectly,† Tina replied in her usual condescending voice reminiscent of old world values. â€Å"This is why we never get along. Don’t worry; I won’t ruin your plans. † â€Å"Trust me, you dont want to. † So a truce was made. Months had passed since that conversation. They were both living separate lives indeed. The two would only be seen together in Dr. Mike Silva’s Philosophy 101 class; even then, they sat on opposite sides of the classroom ignoring each other. Being the belated girl that she was, Serene often came late to class. Serena had always believed in the power of a fashionably late entrance to demonstrate her importance. Although appearing to be the model student, Tina inwardly and occasionally, outwardly, objected to her cousin’s behavior and could not help but be bothered by it. Dr. Silva, otherwise know as Mike to Serene, however, didn’t seem to mind. In fact, he was quite fond of her, in Serena’s mind he believed her to be a perfect model of colonized beauty. After classes, the professor and his protege were always seen having coffee or dinner at Mundelein or at one of the nearby cafes. At least she had someone to talk to that respected her independence and charm. A short time later, it didn’t come much of a surprise when Mike asked her to accompany him to Paris for the holidays. Although Serene had her own plans to go the World Cup, she agreed, since she could not convince anyone to come with her to Germany and would not contemplate asking her conniving cousin. She knew all about the rumors circulating about her and Mike. They simply were weren’t true. She thought of him only as a friend. She was sure that he thought the same of her. However, she knew that if these rumors would circulate further, not only would the University reprimand her, but the whole Chicago Arab community would shun both her and her parents for indecent conduct. She had to ask Tina, although she half expected her to decline the offer. That afternoon, she spent hours preparing Tina’s favorite maamoul, a traditional dish from home. She had to make a peace offering. As she handed it to Tina, the her archenemy looked at her incredulously. â€Å"Do you intend to poison me or something? † Tina asked. â€Å"Just shut up and eat! † She watched Tina eat. She knew Tina longed of at least a piece of home unlike her. She never missed home. â€Å"I want you to come with me and Mike to Paris. † Tina almost choked on one cookie as she heard those words. â€Å"Listen, I intend to come back with my virginity and my reputation intact. Besides, those rumors about he and I aren’t true. † â€Å"Ugh! This is worse than poison. † She said, wiping some sugar on her jeans. â€Å"But alright. I’ll go. Why do you want to go there with him anyway? † Serene turned red with anger, but maybe it was embarrassment. She was sick of everyone asking about her relationship with Mike. â€Å"If I have to answer to one more person, you will see me leaving Rome Center tomorrow! † â€Å"Fine! Leave. That would save me a lot of trouble. † Serene sighed. Tina’s impossible, but at least she agreed. Mike’s office desk was full of clutter. He spent weeks reading the tour books and travel brochures that were scattered on his desk. He thought of throwing them away. He was upset by the message that Serene sent him, excusing herself on the trip to Paris because of several assignments due the week after the holidays. He did not understand that her first refusal was customary of Arabic women, as to not seem so eager to accompany a man on an extended holiday. But, Serena had fully intended to go. He heard a few knocks on his door. When he opened it, he was surprised to find himself Tina, one of his least favorite student standing there. Tina didn’t waste time. â€Å"I had come to ask about the Paris trip agenda, Dr. Silva. I am coming with Serene. † Mike’s feelings of rejection were replaced with outright fury and confusion. Serene failed to mention that her cousin would accompany them. â€Å"Well, I don’t know what you intend on doing in Paris, but Serene and I intend on dedicating an entire day to the Louvre. Dinner will follow at Fouquet’s. Day Two, we will go up the Eiffel Tower and Notre Dame. After that, we will spend more time looking at paintings in Musee DOrsay. Going to the Hotel Invalides is optional. We might try taking the train to Versailles on day three if nothing unfortunate happens. † He memorized the itinerary well, but he didn’t imagine reciting it to this girl. â€Å"I am not quite sure what you had intended on doing in Paris or why you came for that matter, but I respect any decision of Serene’s. † Tina didn’t know how to react. This man was disappointed that she was coming, and he made no effort to hide it. â€Å"Serene feels uncomfortable traveling to a new place alone. † It was a lie. Serene was used to traveling alone. Her attempts at initial rejection were in part customary (though she would never admit it) and similarly to avoid intensifying rumors that could destroy her family and send her packing back home. He was doubtful of Tina‘s revelation, but he decided to let that pass. â€Å"Alright then, Paris can be a dangerous place. Just make sure that you can watch yourself, Ms. Maalouf. † With that, he slammed the door to her face. â€Å"The only person, who I have to watch out for, is you! † She mastered all her self-control so that she wouldn’t say that out loud. It seemed Tina was more intuitive than her cousin would realize. They all arrived in Paris via the Artesia Night train. After checking in their hotel, Serene and Tina prepared to go shopping on Champs Elysees. They decided not to ask Mike, or as Tina referred to him, Dr. Silva, thinking that he would prefer to spend the morning in his bed. They were wrong. Both girls saw him on the downstairs foyer pressuring the receptionist to give him a conjoining room with the girls. His face looked crumpled with disappointment and irritation, but when he saw them, he forcibly flashed a smile. â€Å"Girls, were you planning on leaving without me? † he asked half-jokingly. Tina noted that he was obviously annoyed. Serene noticed it too. â€Å"No, we just figured to do some serious shopping, something you might not be interested in. † She never saw this side of him before. It disappointed her. â€Å"No, I am coming with you,† Mike insisted. Serena felt obligated to pacify the professor. â€Å"Ok then. But I’m afraid it will bore you. Louis Vuitton has nothing to do with history or philosophy. † She continued to downplay his disdain and provided jokes and forced laughter to keep the trip from falling short of her dreamy expectations. Tina remained silent. Perhaps no one will ever know of whatever violent thing she thought of doing to Mike at that moment. Mike was furious. They spent the whole morning shopping along the famous two-kilometer-long avenue. The girls were ready to see the Eiffel Tower next. His plans with Serene were ruined. Tina was to blame. â€Å"The Eiffel Tower is better seen at daytime than at sunset,† he said in his matter-of-fact voice. â€Å"We should wait for tomorrow. † â€Å"We have only three days in Paris. † Serene replied. â€Å"If we are to spend all day tomorrow at the Louvre, I do not think we will have time to see the Eiffel Tower tomorrow morning. † â€Å"You’re right, Serene,† Tina agreed with her for the first time. At that point, Mike lost his patience. â€Å"Your opinion does not matter. † Serene was stunned at Mike’s rude behavior to her cousin. â€Å"How dare you speak to her that way?! † Tina was still family although she never got along with her. Mike realized his mistake. He was worried that his comments would prevent Serene from wanting to spend any time alone with him. â€Å"I’m sorry. I think I just didn’t have enough sleep. † That was a petty excuse. He knew it. Tina knew it and Serene was beginning to realize that Mike was behaving like a spoiled child. â€Å"That is exactly why we choose not call you, but I accept your apology nonetheless. † â€Å"Serene, I am sorry, I did not mean to-† â€Å"The one you should be apologizing to is Tina. † â€Å"Tina, I am sorry. † Tina shrugged. â€Å"Don’t worry. My opinion doesn’t matter anyway. † She decided to do the unthinkable: she would leave Serene and Mike to themselves. Despite Mike’s earlier protests, the pair visited the Eiffel Tower. The view on the Tower’s top floor was truly breathtaking. Serene was awed by the sight of all of Paris glistening beneath her, spreading across to the horizon. No words could completely describe what she saw. No single picture could capture that moment. It was just as she had imagined it, her in all her beauty surrounded by more beauty and her companion, a man who appreciated not only her beauty, but her intellect. Paris was alive. Several times, she had to remind herself that it was real. Mike interrupted her thoughts. He made several comments on the tower’s architecture, its history and its heritage to Paris. She listened intently. He was truly her professor. At that moment, Serene forgot the irritation that he caused her that day. She was grateful to him for taking her to Paris. Without warning, he suddenly kissed her. Serene out of pure reflex, slapped him on the face. â€Å"What are you doing?! † She yelled, astonished, and unaffected by the other travelers around them. â€Å"Doing what one must do in Paris. C’mon Serene, you cannot be blind to this. † â€Å"There has to be some mistake. I saw you only as a professor and a friend, nothing more. I should have listened to Tina. I’m sorry sir. I cannot do what you ask of me. † â€Å"So I risked my reputation, my career, just so you can be better friends with that Tina?! † â€Å"Tina is one of the best people I have known in the entire world. She’s kind to everyone, even me, her enemy. She may not know it, but I have come to admire her. You cannot measure up to who she is to me. † She paused. She couldn’t believe that she just defended Tina against him. â€Å"Please, do not follow me. † She turned to walk away. Mike growled and cursed her. â€Å"Don’t you walk away from me! † He grabbed her arm. Serene clenched her fist. Her punch went straight in his eye, knocking him to the ground. â€Å"I told you not to follow me! † With that, she walked away. Several tourists rolled their heads toward them. The scene was ironically amusing if not romantic. One Korean man even took a video of them in his phone. Serene didn’t care. She was glad to be rid of him. Tina waited at La Jules Verne. She pondered if she had decided right in leaving Serene alone with the monster. A few moments later, her doubts vanished. She was surprised to see Serene back early without Mike. â€Å"Where’s Mike? † she asked. Serene sat down. She turned away to the window. â€Å"I don’t know of any Mike. I simply know a Dr. Silva. He is taking his holiday in Paris as well. We might run into him, but I don’t think will, ever again. † Tina whistled. She realized that Serene had given him a beating worse than she expected. She wanted to congratulate her cousin. â€Å"I hope he won’t flunk the both of us. † With that both girls erupted into a heartfelt laughter that they had shared in a very long time. â€Å"Well, I have decided to drop his class anyway, if you are going to do it with me. How does that sound? † Tina agreed, sealing the pact with a handshake. At last, they had agreed on something. â€Å"You are such a bad influence. † As one relationship came to an end, another presented itself. Paris was a place for romantic love, but the familial love that Serene found again was just as beautiful. She didn’t need Mike’s Philosophy class to understand that. They would carry out the remainder of the Paris trip rekindling their cousinly relationship. They avoided a disheveled Dr. Silva, who they would see frequently muttering to himself or starting a confrontation with the hotel staff. The pair would scamper out of the place with concealed glee and burst into gales of laughter on the Paris street. They didn’t speak of the past misunderstandings they had shares, but instead intuitively knew what had happened there. Serene represented the new world, full of ambiguity and questions. Tina represented the old world with all her wisdom and answers. Together the could navigate through the fog of friendships and loves, enemies and the â€Å"Mikes† of the world. Tina was no longer a chaperone in Serena’s eyes, she was an advisor.

English the Crucible Essay Example for Free

English the Crucible Essay The definition of a crucible is a place or situation in which concentrated forces interact to cause or influence change or development. This applies to Arthur Miller’s The Crucible in the fact that the small town of Salem, Massachusetts is changed dramatically when a girl and her friends make accusations against people for practicing witchcraft. Many individuals such as Reverend Hale, Mary Warren, John Proctor, and Elizabeth Proctor were also changed through a series of events. Yet there were some people who did not change, even after what they went through. Examples of these people are: Parris, Abigail, Deputy Governor Dansforth, and Judge Hathorne. Of all these characters, the individuals that should definitely be examined in deeper detail as to whether or not they changed are Abigail Williams, Reverend Hale, and John Proctor. The first of these poor souls is Abigail Williams. Towards the beginning of the play she was prideful, yet fearful that her name would be ruined if people found out about her and John Proctor’s affair. She truly shows this feature when she is in Betty’s room and Abigail says in a temper, â€Å"My name is good in the village! I will not have it said my name is spoiled! Goody Proctor is a gossiping liar! † (Miller pg. 12) Abigail remains the same person throughout the entire play, all she wants is John Proctor and all those who could ruin her name dead. This clearly is seen Abigail confronts Proctor in the woods, and she warns him that she will have his wife arrested and charged with witchcraft if he does not go with her. Poor Abigail Williams did not learn or change at all throughout the entire course of events that occurred. Another unfortunate character is that of Reverend Hale. In the beginning he is just another conformed preacher who believes the girls accusations of witchcraft in the town. This is clearly witnessed when he is trying to rid Betty of the devil, asks the girls who was with the devil when they saw him. Then the girls started rambling off names of people in the town and Hale believed them. Later in the play, Reverend Hale changes his mind; he goes from believing the girls to not trusting them. This is evident when they accuse John Proctor of witchcraft, and Reverend Hale tries to stop the court from arresting him. At the end of the play Reverend Hale went from a conformed preacher to a free thinking man who can see through the girls’ lies of witchcraft. Reverend hale has without a doubt turned his views for the better. The last of the unlucky people, is John Proctor. He was, in the earlier scenes, a quieter, sort of a stand-offish type of person. This is seen when he comes to town only to get his servant, Mary Warren, and doesn’t really speak to anyone. Later in the play he starts to change his attitude to more of an assertive and forceful person when his wife is taken when she is accused of witchcraft. It is clearly seen when he goes to the court house to testify, with Marry Warren, against Abigail Williams and the other girls, to prove that they were lying the entire time about the whole witchcraft finger pointing. The piteous Mr. Proctor may have changed, but not as much as he could have. Throughout this entire book many characters changed and many others have not. Overall, Reverend Hale appears to be the character that changed the most. This is so because he started out as conformed to society in the sense of believing that those accused where actual witches or warlocks. Later though, he did change his thinking and did start to believe people like John Proctor who knew that the girls were lying about all of the accusations of witchcraft and wizardry. All in all, Reverend Hale is that only character that changed the most overall throughout the entire play.

Historical Cost and Fair Value

Historical Cost and Fair Value 1.0 INTRODUCTION There have been many discussions and debates concerning use of fair value accounting against use of historical cost accounting. Some prefer fair value whilst some have a preference for historical cost accounting. Both methods of valuation have been criticized and as well embraced. It is evident that a quality description and quantitative information about the nature of the financial asset is essentially important and the amount that is appraised from the chosen method of valuation is included in the financial statements. The question however remains as to which measurement method must one use to cope with todays complex financial instruments and risk management strategies. We must acknowledge that we are in an era where we use many complicated financial instruments and risk management strategies which render that yesterdays prices may have become obsolete and many people now demand historical cost be either abandoned, reviewed, modified or replaced by current cost system to reflect a more accurate financial reporting (Muller, K. A., 2008). The issue of assets and liabilities valuation has become more pressing now than it was ever before. The FASBÂ  [1]Â  is slowly modernizing the GAAPÂ  [2]Â  principles and in doing so, it is attempting to make financial statements more meaningful and bring books in line with the international standards. Historical cost and fair value methods of valuation have both been around for a long time. The choice of whether to switch to fair value method is interestingly an important decision where all perspectives have to be equally evaluated in considering the transition from an existing to a new method of financial asset valuation. History has proven that the historical cost principle has worked absolutely fine all this while. This now poses us a question as to why the consideration and speculation to switch to a new method of financial asset valuation. What theories and what basis should drive the motivation to choose a varying method of financial asset valuation and what could be ideally considered being the opportune time for the switch in choice of model. With the ever increasing concerns between both the public and private sectors pertaining to the adequacy of financial statement reporting by respective financial institutions, a considerable attention has been received by the FASB, SECÂ  [3]Â  and other regulating bodies. The adaption of the IFRSÂ  [4]Â  in the European Union with effect from 1st of January 2005 birthed a number of significant changes in how firms must report their financial positions (Muller et al 2008). Measurement of financial assets is the core issue of relevance in financial accounting and reporting today. In order to decide which method of valuation one must choose, it is imperative that there must be a sound understanding of the fair value and historical cost method of valuation for financial assets. This seminar attempts to carry out an in depth research on the fair value and historical cost method of valuation, understand the underlying assumptions of each, identify the strengths and weaknesses of both. Various companies has been researched and contacted in order to obtain feedback on their chosen method of financial asset and liabilities valuation. Responses received are summarized in analysis and findings section of this paper and has been deliberated upon in understanding how companies and organizations in Fiji are valuing their assets and liabilities for reporting in their financial statements. Also encompassed are various literature and resource materials that we have studied. These have been reviewed and key essence and aspects of topic under study has been entailed in section entitled Literature Review. 1.1 THEORETICAL UNDERPINNINGS Accounting is highly purposive field and any assumption, principle or procedure is accordingly justified if it adequately serves the end in view (Paton, 1922). There are many accounting conventions under the Generally Accepted Accounting Principles (GAAP) which is now known as IFRS. Historical Cost Convention is the conventional valuation concept whose resources are valued in accordance with the cost of acquisition by the enterprise (Glautier and Underdown, 1982). Assets are recorded at their original cost at the time of purchase. This convention is highly preferred for the historical cost method over fair value. The Conservatism Convention assumes that accountants are pessimistic in measuring revenues and expenses. Revenues are not recorded until they were virtually certain but expenses were recorded as soon as they become remote. If accountants had to choose for measurements of cost for assets and liabilities they would have chosen the lowest for assets and highest for liabilities mostly adopt historical cost method. The historical cost of method is well preferred over the fair value method as the Accounting as a Historical record is concerned at providing a faithful record of transaction of an entity rather to provide a valuation of the firm at a given period of time (Godfrey et. al, 2006 pg 18). While historical cost method may give some indication to shareholders of the stewardship of management in the management of costs and money capital under the control, the records give no indication of the real worth of the enterprise as a going concern except to the extent that operating profit is a predictive devise (Budge and Hendriksen, 1974). Objective of stewardship is based on agency theory. Managers choice of accounting method usually comes as agency theory. Agency theory provides a necessary explanation of why a selection of particular accounting method might matter, and hence was an important facet for the development of Positive accounting theory. It is assumed that under agency theory principals will assume that the agents (principal) will be driven by self interest and therefore the principals will anticipate that the managers, unless restricted from doing otherwise, will undertake self serving activities that could be detrimental to the economic welfare of the principals (Deegan 2002). Since the behavior of this principal cannot be predicted as their salaries are tied to accounting figures and monitoring the principal behavior is difficult. The preparers of financial reports will choose measurement basis for higher profit for the remuneration purposes. It could be better if the particular method such as historical cost is stated in the contract of the principal for reporting purpose. Watts and Zimmerman identified three key hypotheses that have become frequent in the Positive Accounting Theory literature to explain and predict whether an organization would support or oppose a particular accounting method. A higher profit is precise under the management hypothesis or bonus plan hypothesis. The preparers of the reports will use such accounting methods that increase current reported income. Such method increases the present value of bonuses if the compensation committees do not adjust for the methods chosen. This hypothesis predicts that if managers are rewarded in terms of performance with accounting figures than mangers will chose methods to increase accounting profit with an attempt to increase bonus. A higher profit is also preferred by Debt Equity hypothesis which predicts that the higher the firms debt equity ratio the more likely the managers use accounting methods that increases income. The higher the debt to equity ratio, the closer the firms to the constraints in debt covenant. The tighter the covenant constraint, the greater the possibility of a covenant violation and of incurring of costs from technical defaults. Mangers choosing income increasing accounting method relaxes debt constraints and reduces the technical defaults (Deegan 2002). The Political Hypothesis predicts the larger firms rather than small firms are likely to choose accounting methods that reduces reported profit. Reducing reported profit could decrease the possibility that people will argue that the organization is exploiting other parties by applying business practices that generate excessive profit for the benefits of owners while at the same time providing limited returns to others parties involved in the transaction. Chambers Theory of Continuously Contemporary Accounting made judgment about what people need in terms of information. Chamber makes an assumption about the objective of accounting is to guide future actions. He prescribed that all assets should be measured at net market value and that such information is more useful for informed decision making than information based on historical cost which could be misleading. A number of prescriptive theories were developed which adopted Decision Usefulness approach to Accounting Theory. Chambers Blueprint paper published in 1955 is arguably among the first to emphasis decision usefulness .He wrote: It is therefore corollary of the assumption of rational management that there shall be an information providing system, such as basis for decision and as a basis for reviewing the consequences of decision. It is suggested that accounting information should be relevant, verifiable, free from bias and quantifiable. The choice of Accounting Methods depends on factors such as reliability, relevance, timeliness and comparability. Finally, there are several other theories to accounting which could explain the choice for the kind of measurement base or method. Cost Attach theory, Investor theory, True income theory, Behavioral Accounting theory, Measurement theory, Accounting as Magic and communication theory and others. Measurement is a hub of Accounting which has a lot of accounting theory underlying measurement basis. The minimum requirement for giving theoretical justification to an allocation method are that it should be possible to specify unambiguously and in advance, the method to be used and to defend that choice against all competing alternatives. 2.0 LITERATURE REVIEW There has been much discussion about fair value accounting. Disclosing assets at their fair value as opposed to their historical cost is preferred by some but opposed by others. The use of fair value accounting has been around for decades primarily for financial assets. In recent years, both the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have moved towards more extensive use of fair value accounting. According to Godfrey et al (2006) the use of historical cost for valuation of non-monetary assets has come from several sources, these include the 1940 book by Paton and Littleton, An Introduction to Corporate Accounting Standards. The book provides many of the theoretical arguments for the accounting. Historical cost is generally defined as the amount at which the asset or liability was originally obtained. Where the historical cost is expected to be different from the final value when the item is no longer on the balance sheet, some amortization or depreciation of the value is expected. This can result in an amortised cost or depreciated cost value. These values are generally more reliably determinable, but less relevant than fair value. Casonbona et al (2007) define fair value as the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arms length transaction. This assumes that it represents market value in a sufficiently robust and efficient market. Where no market exists, the fair value would need to be conceptually estimated. In making comparisons between the two, Toppe Shortridge et al (2006) refer to an argument of relevance over reliability. They argue that the proponent of fair value accounting believe that historical cost financial statements are not relevant because they do not provide information about current values. Theorists and practitioners against fair value argue that the information provided by fair value financial statements is unreliable because it is not based on arms length transactions. They contend that if information is unreliable it should not be used to make financial decisions. However they also argue that the proponents of fair value accounting would claim that it is more relevant to decision makers even if it is less reliable. These arguments include that fair value accounting would produce balance sheets that are more representative of the companys value. Specifically, unless the values of fixed assets are assumed to remain the same over time, historical cost information is rel evant only up on obtaining the asset. A number of studies have been conducted to argue that one method is more appropriate than another. Ebling (2001) argues that accounting rules around the world are moving steadily towards fair value accounting and away from historical cost accounting. In his study he argues that the banking systems figures would become more volatile. The banks would see their business managed against long term objectives and not short term measures and it is historical costs that better reflect the economic substance of the transactions, the actual cash flow and the earnings process. Chisnall (2001) also supports this view and argues that the banking industry as an example would be best to use modified historical cost as a better basis on which to measure banking book performance in primary financial statements. The issue of volatility has surfaced in recent times with the example of the collapse of Enron as an example. Barr (2009) reflects that fair value can be an accurate way to value assets but it needs time to be fully perfected. With Enron fair value accounting was used to mislead investors, regulators and the general public. Kemp (2008) argues that fair value accounting works best where the legal framework of society accepts the subjectivity of the market and thus divergent values as in Europe, as opposed the USA with its very open legal system. The disadvantages of fair value are also highlighted. It is argued that valuation is a subjective judgment and therefore as an example if two evaluators were to conduct the valuation process they may arrive at different estimates of the fair value although both would have followed the objectives of fair value measurement. There are many issues involved with fair value accounting. Some argue that fair value is beneficial to investors when they are trying to evaluate risk, return and valuation of a business. Dvorakova (2007) in her study of historical costs versus fair value measurement in financial accounting uses the example of non-financial assets. In her study she notes that IAS 41- Agriculture sets a precedent in application of the fair value measurement to biological assets and agricultural production. The study states that the fair value measurement has been required by IAS 41 because historical cost measurement is not able to cover the value of biological assets of enterprises in the market environment. Muller et al (2008) examine the cause of and consequences of investment property companies choice to use the historical cost or fair value standard to account for their primary asset, real estate. The examination exploits the European Unions adoption of International Financial Reporting Standards which require companies to make this choice under IAS 40 Investment Property. The study showed that companies are more likely to use the fair value standard when a company shows a greater commitment to reporting transparency. It showed that some companies however were also opportunistic in using fair value to report larger gains than companies using the historical cost standard. Christensen and Nikolaev (2009) studied whether and why companies prefer fair value to historical cost when they can choose between the two valuation methods. Their study show that with the exception of investment property owned by real estate companies, historical cost by far dominates fair value in practice. They state that fair value accounting is not used for plant, equipment and tangible assets. They found that companies using fair value accounting rely more on debt financing than companies that use historical cost. This evidence is consistent with companies using fair value to show asset liquidation values to their creditors and is not consistent with equity investors demanding fair value accounting for non-financial assets. This study was based on a sample of 1,539 companies. It identified each companys valuation practice by reading the accounting policy section in its annual report. No companies in the sample used fair value accounting for intangible assets. Only 3% used it for assets such as plant and equipment. With very few exceptions fair value is used exclusively for property. The study also looked the balance sheets of the companies and found that that the total assets and shareholders equity were, respectively, 31% and 88% higher on average for the companies using fair value as opposed to a matched sample of companies that only use historical cost accounting. The study also proves that a mixed approach is taken to the use of fair value under IAS 16 Property, Plant and Equipment. The study further states that companies that follow historical cost accounting must periodically test their asset for impairment. An asset is considered impaired when its carrying amount is higher than its fair value less the costs to sell and the present value of future cash flows it is expected to generate. With historical cost accounting companies will in practice value assets close to fair value if depreciated historical costs exceed fair value. In contrast under fair value accounting companies revalue assets either upwards or downwards depending on the change in the fair value estimate. Beier (2008) talks about measurement issues with existing mixed standard models. He states that mismatches may occur because some assets and liabilities are reported at historical costs and some are marked to fair value. Examples he gives include; Financial institutions report many assets at fair value and the debt used to finance those assets is reported at historical cost; Debt nominated in a foreign currency is translated at spot rate while assets financed with that debt is translated at historical rate; Derivative used to finance inventory are reported at fair value while such inventory is reported at historical cost. Grover (2008) in his look at the debate of fair value versus historical costs states that while there needs to be consistency in accounting it may be necessary to measure certain balance sheet items at fair value and other at historical cost. It can be argued from the literature and studies conducted that fair value and historical costs both have their place in accounting. There are many different and unique kinds of businesses so one universal standard for valuing assets may be suitable for some but not for others. Fair value is beneficial due to its ability to provide an up to date value of business assets, but fair value may also inaccurately inflate the value of a company due to mistakes or misrepresentations and in doing so can falsely increase the confidence of investors and therefore increase its capital. Historical costs are beneficial as it is widely understood by investors and companies. Historical costing does not rely on estimating the value of assets and thus allows less room for fraudulent activities to occur. However the use of this standard can underestimate the value of a company since an increase in the value of an asset is not recorded until the asset is sold or traded. Although this may cause investors to wary of a company who has a deflated value it does provide more stability in the market. If both accounting standards are used it can improve meaningful information for decision making. The use of fair value allows for an up to date value of assets and produces relevant costs. As an example if a company owned a building the fair value of that building will be the opportunity cost of that building in terms of it being sold or rented or used for something other the companies intended use. As historical value is more widely used and understood it can be used as an external use of reporting value of assets. Historical costs can be used as the base in reporting value and fair value used as an estimate or projected value of assets to investors. 3.0 RESEARCH OBJECTIVES AIM To discuss the rationale of historical cost and fair value methods of measurement and determine whether it is appropriate to use both methods when compiling a set of financial statements. OBJECTIVES The scope of our research aims to address the following issues; Discuss the rationale of historical cost method. Benefits and constraints of historical cost method. Discuss the rationale of fair value method. Benefits and constraints of fair value method. Whether it is appropriate to use both methods when compiling a set of financial statements. Benefits and constraints of using both methods. 4.0 RESEARCH METHODS In compiling this research project, we used the following techniques to obtain data which are as follows: Questionnaire Distribution We compiled questions and distributed to 30 reporting entities in Suva and Nasinu area. These were given specifically to financial statement preparers namely financial controllers and accountants. Review of literature We reviewed the research papers and journals carried out by several researchers on fair value and historical cost. Online Research Accessing the internet played a vital role in obtaining current and up-to-date Information regarding historical cost and fair value. 5.0 ANALYSIS AND FINDINGS Question 1: 1. What method of measurement does your company currently use? Upon analyzing the outcomes of the 25 received responses from the reporting entities, 1 uses fair value method, 17 companies adopt to using historical cost as measurement basis while 7 stated that they use both methods that is fair value and historical costs. The table below shows the methods used by the companies in compiling the financial statements. Key: HC Historical cost FV Fair value Both Historical cost and fair value What are the benefits (advantages) of historical cost did you consider prior to implementing this measurement basis? The responses received in regards to the advantages of historical cost method have been quite similar and we have analysed the advantages in the following categories showing the number of respondents. What are the constraints (disadvantages) of historical cost measurement basis that your company may have faced? The responses received in regards to the disadvantages of historical cost method have been quite similar and we have analysed the disadvantages in the following categories showing the number of respondents. The respondents of 68% (17 out of 25) agreed that the benefits of using historical cost (Question 2) as its measurement basis outweighs the constraints identified in Question 3 while 32% (8 out of 25) thought otherwise. The major reasoning being that historical cost is fairly easy to use and understand and also in Fiji, there is constraints for lack of active markets for some classes of assets, thus for valuation purposes, adopting to fair value becomes an expensive for task for entities. What are the benefits (advantages) of fair value did you consider prior to implementing this measurement basis? The responses received in regards to the advantages of fair value method have been quite similar for most companies and we have analysed these advantages in the following categories showing the number of respondents. What are the constraints (disadvantages) of fair value measurement basis that your company may have faced? The responses received in regards to the disadvantages of Fair value method have been quite similar and we have analysed these disadvantages in the following categories showing the number of respondents. Do you consider that the benefits outweigh the constraints in using fair value as the measurement basis? Considering that only 32 %- 8 (1 FV and 7 both) out of the 25 companies use fair value, they responded that the benefit of the fair value identified in Question 5 does outweigh the constraints in Question 6 while the 68% (17) thought otherwise. We consider that the major factor behind this is due to lack of active markets for some assets whereby this becomes a cost constraint for entities and the complex nature of the methods used in fair value. Do you consider that it is appropriate to use both methods when compiling a set of financial statements? If so, please outline the benefits and limitations of using both methods i.e. historical cost and fair value? Of the 25 respondents, 19 (76%) of them view that it is appropriate to use both methods i.e. historical cost and fair value when compiling a set of financial statements while 6 (24%) of them view otherwise. The major reasoning being that this would be more reliable and relevant for decision making process such as for assets like Property Plant Equipment, entities consider using historical cost basis of measurement since it is easy and efficient to use while for investments; they consider fair value since current and market valuation is needed. Furthermore, the entities (respondents) also outlined benefits and constraints of using both methods i.e. historical cost and fair value which is analysed as follows: 6.0 LIMITATIONS In carrying out our research we encountered some problems that we think have inherent this research and is outlined as: Difficulties were faced by the group in seeking responses to the questionnaires on the subject matter as some companies were reluctant to provide information due to the busy schedules of their employees and key players from whom information was required and also private companies have strict confidentiality policies which restricted us in obtaining responses. There is a possibility that questionnaires were likely to be filled out by accountants and account officers who do not have knowledge to that extend about their companys policies regarding measurement hence there is a chance for incorrect data. Several companies refused to participate as they required going through the protocol of seeking permission from human resource department which was time consuming. Out of 30 questionnaires given, only 25 responses were received. If all had responded, we would have been able to gather more information which would have enhanced our analysis and findings. Likelihood of sampling error as disadvantaged by geographical area. Due to time constraints we distributed the questionnaires only in Suva and Nasinu areas; hence the study of other reporting entities from other regions could not be taken. If the questionnaires had been distributed to other region, then this paper would have been more creditable and informative. Excessive information based on overseas markets. This is a limitation as findings to Fijis context could not really be made. Based on our readings, overseas markets have efficient markets whereas in the South Pacific it is limited to only one. Our group made an effort to interview some companies however it was futile since they were unable to find a mutually convenient time. 7.0 RECOMMENDATIONS AND CONCLUSION 7.1 Recommendations Based on the research and in support of our conclusion, we recommend that: That the professional accounting bodies should continue to address the issue of measurement to provide with a solution. Accounting professional bodies such as AASB, FASB and IASB should be specific in their conceptual framework which measurement method should be used for different assets and be consistent across all borders. Accounting professional bodies such as AASB, FASB and IASB should provide conceptual framework for measurement such as on scale of businesses that is small size business, medium size and large business. Further studies to be carried out on the mixed method model appropriateness, incorporating the views of other stakeholders such as users given our narrow scope of research as well as need to consult a more representative sample of all stakeholders given our small sample size. 7.2 CONCLUSION Paragraph 100 of the IASB Framework states that: A number of different measurement bases are employed to different degrees and in varying combinations in financial statements. However, there is a lack of guidance in the framework in providing criteria for selecting measurement basis for particular elements of financial statements. Although accounting practices have changed considerably, still an overwhelming large majority of transactions is recorded and reported based on historical cost as it was centuries ago (Ijiri, 1975). Our conclusion is that it is appropriate to use both historical cost and fair value when compiling a set of financial statements. This conclusion is based through prudent evaluation of previous researches and the findings from the responses to our research questionnaire and thus it is conclusive that there is no ideal method for asset measurement. There is satisfactory research to support that fair value provides and enhances the relevance of financial information especially to assets with existing markets. However, this study identifies that in Fiji historical cost is the most preferred method for most firms and this may be of the fact that Fiji has many small to medium scale of businesses. Although fair value is included in the conceptual framework of accounting, there is insufficient empirical evidence and literature that views it to be the best method. Historical cost method reduces a number of problems, including information manipulation by managers, which further affects its reliability in decision making. Furthermore, development of rigid accounting standards is imperative to increase reliability of fair value. Paragraph 101 of the IASB Framework states that in preparing financial statements historical cost is usually combined with other measurement bases. Given that the framework does not explicitly refute and dispute such approach, using both fair value and historical cost simultaneously is not exactly deemed to be unprincipled. By using fair value, information becomes more relevant to decision-making process as it reflects up-to-date information. Even though fair value may be relevant, its reliability is questionable due to its subjective nature of determination. Lastly, by using both methods we are able to enjoy the benefits inherent in fair value as well as historical cost. One can argue that by combining the two, the reports become open to disadvantages inherent in the two as well.

King James I :: essays research papers fc

This is a paper over King James I of England that I wrote for my honors english class. I received an A on the the assignment. King James I On June 19, 1566 in Theobalds, Hertfordshire, England, Mary Queen of Scots gave birth to her only child, a boy whom she named James. James' father was Henry Stewart, also known as Lord Darnley. Darnley was killed in an unexplained explosion at his house when James was eight months old. Only seven months later, Mary Queen of Scots had to give up her throne because she was defeated by rebels. Mary left the country and James never saw her again. James took the throne of Scotland when he was only 15 months old and became King James VI of Scotland ("James I" 481). James got most of his culture and education before he was 14 years old. During his early life, the boy king spent most of his time with Scottish lords and his tutors, especially George Buchanan, his favorite tutor ("James I, King of England" 1). He received a superior education and was known for his great knowledge. He always had a great respect for the Scottish lords that were around him as he grew up ("James I" 481). James enjoyed writing. He wrote and published many poems and translated many long French works. Later in life he also wrote many books on topics such as kingship, theology, withcraft, and tobacco. He also ordered the translation of acient Greek and Hebrew versions of the Bible into English in the Authorized King James Version of the Bible ("James I, King of England" 1). 2 He also enjoyed riding horses and hunting. This may be due to the fact that he was very frail and sometimes needed help walking. When he was on a horse, he was able to function normally. Despite his physical hinderances, King James was regarded as being very confident in his decisions. At the age of 15, James ordered the execution of a man suspected to have been involved with the death of Henry Stewart, James' father ("James I" 481). James wanted to follow Queen Elizabeth I of England to the throne so badly that he would have done anything to keep peaceful relations with her. When his mother was beheaded in 1587, he merely made a formal protest and let the incident blow over ("James I, King of England"1). In 1589, James was married with Anne of Denmark, the daughter of Fredrick II of Denmark. They had there first child, Prince Henry, in 1594 ("James I" 481). Prince Henry was an ideal prince and won the love of King James I :: essays research papers fc This is a paper over King James I of England that I wrote for my honors english class. I received an A on the the assignment. King James I On June 19, 1566 in Theobalds, Hertfordshire, England, Mary Queen of Scots gave birth to her only child, a boy whom she named James. James' father was Henry Stewart, also known as Lord Darnley. Darnley was killed in an unexplained explosion at his house when James was eight months old. Only seven months later, Mary Queen of Scots had to give up her throne because she was defeated by rebels. Mary left the country and James never saw her again. James took the throne of Scotland when he was only 15 months old and became King James VI of Scotland ("James I" 481). James got most of his culture and education before he was 14 years old. During his early life, the boy king spent most of his time with Scottish lords and his tutors, especially George Buchanan, his favorite tutor ("James I, King of England" 1). He received a superior education and was known for his great knowledge. He always had a great respect for the Scottish lords that were around him as he grew up ("James I" 481). James enjoyed writing. He wrote and published many poems and translated many long French works. Later in life he also wrote many books on topics such as kingship, theology, withcraft, and tobacco. He also ordered the translation of acient Greek and Hebrew versions of the Bible into English in the Authorized King James Version of the Bible ("James I, King of England" 1). 2 He also enjoyed riding horses and hunting. This may be due to the fact that he was very frail and sometimes needed help walking. When he was on a horse, he was able to function normally. Despite his physical hinderances, King James was regarded as being very confident in his decisions. At the age of 15, James ordered the execution of a man suspected to have been involved with the death of Henry Stewart, James' father ("James I" 481). James wanted to follow Queen Elizabeth I of England to the throne so badly that he would have done anything to keep peaceful relations with her. When his mother was beheaded in 1587, he merely made a formal protest and let the incident blow over ("James I, King of England"1). In 1589, James was married with Anne of Denmark, the daughter of Fredrick II of Denmark. They had there first child, Prince Henry, in 1594 ("James I" 481). Prince Henry was an ideal prince and won the love of

Essay example --

Modern Slavery I. Introduction A. How would you feel like living in a world where all your freedom is taken away? B. In history class, we learned that approximately 150 years ago Lincoln’s Emancipation Proclamation freed slaves, but we forget that modern forma of slavery still exist in our world today. C. At this moment, there are 27 million slaves in the world suffering from modern forms of servitude. D. First, I will explain this thesis statement in more detail, then I’ll describe how this changed the world and what government are doing to combat this international crisis. E. Now, let me start by giving some background information on modern slavery. II. Human trafficking is the modern form of slavery that occurs in many countries throughout the world affecting men, women, and children. A. Two basic forms of human trafficking are labor trafficking and sex trafficking. 1. Labor Trafficking: Using force, fraud or coercion to recruit, harbor, transport, obtain or employ a person for labor or services in involuntary servitude, peonage, debt bondage or slavery. Victims can be found in domestic situations as nannies or maids, sweatshop factories, janitorial jobs, construction sites, farm work, restaurants, and panhandling. (Williams, 2013) 2. Sex Trafficking: Involving commercial acts induced by force, fraud or coercion, or in which the person performing the act is under age 18. Victims can be found working in massage parlors, on the streets, in brothels, strip clubs, and escort services. (Williams, 2013) B. Slavery exist in nearly every country, whether the countries are origin countries, transit countries, or destination countries and effects all men, women, and children. 1. Human trafficking is widespread – data taken from th... ...Council, China's Cabinet The mechanism will be conducive to curbing the rise of human trafficking cases and ensuring that victims of trafficking are rehabilitated and relocated in a timely manner, the plan noted. C. As you can see the United States, as well as many other countries, have made efforts to crack down on trafficking, educate vulnerable people, and rehabilitate the victims of these horrific crimes. V. Conclusion A. Modern slavery affects men, women, and children in every country throughout the world through one way or another, but finally government agencies or organizations are taking action to put an end to this international crisis. B. There are 27 million human beings that are bound to servitude through out the world today. C. The next time you enjoy sipping on you morning coffee, take a moment to think about the slave who made it all possible.

Changes in Ritas Character throughout Educating Rita Essay -- Educati

Changes in Rita's Character throughout Educating Rita With reference to the social context of the play, discuss the ways in which Willy Russell shows the changes in Rita’s character throughout Educating Rita. In the play Educating Rita by Willy Russell there are two main characters, Rita and Frank. Rita is a twenty six year old uneducated hairdresser. She wants a better life for herself; she wants to have an education. She didn’t get a full education at school as she says, ‘See, if I’d started takin’ school seriously, I would have had to become different from me mates, an’ that’s not allowed.† This shows Rita felt she could never take education seriously because it was for the ‘wimps’ and she didn’t want to be different to her friends, and her family didn’t regard education as being important. She goes to the Open University to further her education in English literature. In the Open University there is a professor called Frank, he will be tutoring Rita. Frank has a drinking problem and he also thinks he is a bad teacher. He says, â€Å"Everything I know – and you must listen to this – is that I know absolutely nothing.† He thinks literature and high culture have given him nothing in life to value, that’s why he thinks so poorly of his job. In the play Willy Russell tries to show the ways in which Frank and Rita communicate. When Rita first walks into Frank’s room she is full of questions, she has a lot to say. It seems as though she is full of life. Frank describes Rita, â€Å"Do you know, I think you’re the first breath of fresh air that’s been in this room for years.† Frank likes it that Rita is different from his other students because the things she says come to her naturally. Rita has not been tr... ...ere she is eager to learn, as she says, â€Å"†¦Ã¢â‚¬ ¦..if you want to change, y’ have to do it from the inside, don’t y? know like I’m doin’.† This shows Rita wants to change. She also goes to summer school in order to learn more; by going to summer school it boosts her self-confidence. Then she moves in with someone called Trish, who she admires and now because she has changed, has a lot in common with her. The things Rita has done, which are to have taken great lengths in getting an education, show how serious she is about her desire to want to change herself. She even separates from her husband for the reason that she chose education instead of him, in an ultimatum her gave her. She has tried so hard to succeed and now that she has, I think that is being realistic. No one handed her an education on a plate, she worked hard for it, I this that is realistic.

Compare-and-Contrast Research Paper Essay

Introduction Present essay seeks to provide the comparative analysis of two artworks – Hoffmann’s Boston Twilight, 1957, belonging to Proto-Abstract Expressionism and Rauschenberg’s Retroactive 1, 1964, which may be attributed to the art movement of Pop-Art. The comparative analysis of these paintings will focus on two crucial aspects – structural and positive. Structural analysis addresses cultural, historical context, which influenced the discussed artworks, political climate, art movements’ stylistic characteristics, which informed individual work of artists, their subjective motives, influences and inclinations. Secondly, positive analysis of the artworks focuses on the themes depicted, colors and techniques used, formal and stylistic elements, the reflection of cultural and historical context in the artworks etc. The thesis, present paper defends, may be formulated as follows: Hoffmann’s and Rauschenberg’s artworks were significantly influenced by historical, cultural, social and artistic context. The artistic response to these contexts was different and reflected through opposite art movements. The discussed images belong to different artistic traditions and, hence have many differences. Similarities, however, may be attributed to the similar artistic influences, and utilization of sometimes similar formal and color techniques of composition. Structural context: art movements, history, politics and subjective perspectives. The general socio-economic and historical context of both artworks (as they were created very close in time – 1957 and 1964) may be characterized by the gradual assault of mass consumption postmodernist society, which influenced the rapid development of popular culture in music, entertainment and cinema. Commoditization has reached almost every sphere of social life and closely approached art through mass media. The increasing role of mass culture was immediately seen in the new sphere of advertisement, which conflated the elements of ‘high and low’ culture, which became central to the new postmodernist cultural logic (Jameson, 59). Political situation in the United States and Europe was characterized by the intensification of resistance and leftist movements, which, however, abandoned communist platform and focused on new postmodernist tactics, such as situationism, counter-culturalism, influenced by new discoveries in psychoanalysis, philosophy etc. Politics also became the element of mass culture, as its reproduction was extended from closed couloirs of high cabinets to ordinary population. The response of art movements to the assault of the postindustrial society was irregular and significantly varied from one art movement to another. The dominance of non-objective abstraction in 1940s and 50s was the response to vulgarization of social life, and the manifest of the absence of valuable objective themes in de-humanized world. Abstractionism, hence was an artistic expression of de-humanization and the search for lost subjectivity (Herskovic, 13-17). However, other extremes also came to existence. That is particularly true of the Pop-Art, which positively responded to the modern developments in economy and culture, synthesizing popular culture in the new form of art. Pop-Art was characterized by ‘externalization’ of art, as the objects of ordinary life and advertisement were widely utilized. The later was particularly evident in the works of Andy Warhol, Roy Lichtenstein and James Rosenquist. The similar response to changing conditions in society was made by photorealism, which exemplifies the assault of hyperrealism as the new form of cultural affirmation. Such elements of modern society as standardization, de-subjectivization was immediately seen in Pop-Art , which appeared as the resistance to self-revelation, artistic creativity and originality and focuses on the widely acknowledge cultural codes and images (Harrison 2001) . Robert Rauschenberg’s and Hans Hoffmann’s artistic trajectories were significantly influenced by the discussed developments in politics and ideology. Rauschenberg was, for instance, one of the forerunners of pop-art movement, as he was among the first to use hand-made or found objects in his artworks, combining the elements of high and low culture, using mass-media sources etc (Livingstone, 1990). Such experiments were influenced by Rauschenberg’s strong belief that the genuine artwork should exist between art and life. The technique of ‘combines’ used by Rauschenberg may be described as immediate precursor to postmodernist collage, used in installation art. Rauschenberg’s mindset position deeply opposed Abstract Expressionism’s argument that the self may be expressed through art. Instead, Rauschenberg focused on representation of reality in its absence of structure, sense and single interpretation. Abstract-Expressionism, which was influenced by Hans Hoffman, in contrast focused on gesture paintings and color field painting techniques. Abstract Expressionism should be understood as a historical consequence of the conflation between European and American artists due to World War 2, which forced may French, German and other artists to immigrate in the United States. Hans Hoffmann belongs to this group of artists and his destiny significantly influenced his style and ideological orientations (Herskovic, 2003). Hoffman’s style was influenced by cubist tension between depth and surface, expressionistic flamboyance of color and surrealist technique of automatism, which is based on following subconscious drivers of creativity and libidinal forces. The latter influences were synthesized by Hoffmann in his ‘push-pull’ method, which included the use of expressive colors and paint slashes in the view of creating contradiction between cool and warm colors. Comparative analysis of Hoffmann’s and Rauschenberg’s artworks Both artworks are obviously affected by different artistic movements and styles. Hoffmann’s composition may be posited within abstract expressionism tradition, while Rauschenberg’s painting belongs to Pop-Art movement. On the surface level the similarities between these artistic may be traced in the color usage – in each painting we see the utilization of yellow, green, black, white, red, white and blue colors. Moreover, the presence of grid-like rectangular layout is evident. Apart from this, both paintings are characterized by the sense of distortion. The distortion in Hoffmann’s artwork Boston Twilight is due to the use of abstract expressionist style, which distorts the contours of objective reality, so that we can not find correspondence between the image and reality (Boston Twilight) that it signifies. However, in Rauschenberg’s composition the distortion is reflected in the plurality of meaning and signification. The interpretation is difficult to realize due to the combination of images inserted in the painting: J. F. Kennedy at the center, pointing with his finger, cosmonaut with parachute, the duplication of Kennedy’s hand in the right corner and evidently abstract images in other parts. There is no denying the importance of the fact, that such a ‘combine’ creates difficulties for interpretation and distorts it. Furthermore, it should be pointed to the fact that both artworks have the elements of abstraction, contrasting color tones and are influenced by Cubism in using facets of the color. Both paintings create the feeling of collage and it was noted that Rauschenberg’s ‘combine’ technique is very close to it. Moreover, creating certain color relationships is in important in both images, however, it serves different functions, depending on style and thematic unity. Differences between images are evident in many respects. First of all, art schools are opposite with pop-art, focusing on unification of art and reality, and abstract expressionism, focusing on expressing contradictory being of individual self. Hoffman’s painting is abstract in essence, while Rauschenberg’s refers to widely known political and social images of American President, cosmonaut, which immediately signify objective reality. The social and political thematic of Rauschenberg’s image immediately points to his belonging to Pop-Art tradition. As far as formal and color structure of the analyzed paintings are concerned blue is dominant in Rauschenberg’s image, while green is dominant in Hoffman’s paintings; the first artist uses vertical stress, while Hoffmann is evidently using horizontal stress. Due to stylistic differences between artworjs, colors mix into one another in Hoffmann’s painting and are separated in Rauschenberg’s one. Rauschenberg utilizes much more contrast, than Hoffmann, however the image of the latter is much more organic in contrast to geometric structure of Rauschenberg’s composition. Conclusion To sum it up, present analysis proved the initial thesis that both artworks were significantly influenced by historical, social and cultural developments in Western societies in the middle of 20-th century. These developments provoked different responses on the part of art movements, resulting in creation of different styles and techniques. The latter are reflected in Hoffmann’s and Rauschenberg’s compositions, which are different in many important stylistic respects, however, have much in common due to the same artistic influences. My interest to the discussed paintings is explained by the fact that they are picturesque representations of Abstract Expressionism and Pop Art. Main features, peculiar to each of these styles, may be found in these paintings both in complex and in separate elements. The techniques used by both artists help us better understand other artworks created in these traditions and inform our own artistic endeavors. Hoffman’s image advantage is in its direct appeal to aesthetic taste and sensibility, while Rauschenberg artwork represents a challenge for viewers in terms of interpreting its political and social content. Works Cited Herskovic, Marika. American Abstract Expressionism of the 1950s An Illustrated Survey, New York School Press, 2003. Harrison, Sylvia. Pop Art and the Origins of Post-Modernism. Cambridge University Press, 2001. Jameson, Fredric. ‘Postmodernism, or the Cultural Logic of Late Capitalism’. New Left Review, 146, (53-92), 1991. Livingstone, M. Pop Art: A Continuing History, New York: Harry N. Abrams, Inc. , 1990