Australian Income Tax Law Essay Example | Topics and Well Written Essays - 1500 words

Australian Income Tax Law - Essay Example The expense of government to the individuals of a great nation is like the expense of management to the joint tenants of a great estate, who are all obliged to contribute in proportion to their respective interests in the estate. In the observation or neglect of this maxim consists what is called the equality or inequality of taxation. Every tax, it must be observed once for all, which falls finally upon one only of the three sorts of revenue above mentioned, is necessarily unequal in so far as it does not affect the other two. Looking at income tax rates methodology, we see that a taxpayer's income is taxed progressively. Broadly, this means that as you earn more income your average tax rate rises. And it’s really fair! Progressive taxation means that higher income earners pay more tax than lower income earners. The Government defined a maximum sum, which is not taxed –$6000. Let’s imagine, that your income is equal to X. Then if your income lays between you’ll pay 17% from (X-$6,000) sum. If your income is , you must pay more - $2,652 (according to previous rule) and 30% from (X-$21,600) sum, etc. This is achieved by taxing a range of income brackets as a set percentage or cents in the dollar. These income brackets are called tax brackets. The following tables detail the tax brackets of our progressive tax system for the financial years ending 30 June 2005 and 30 June 2006.

Narendra Modi Essay Example for Free

Narendra Modi Essay Born in 1950. 1960-1970 Tea, Tea, Tea! A cup of Tea for 10 cents. Would you like to have some tea sir? 2001- Chief Minister of Gujarat, one of the biggest states of India and remained as the Chief Minister for four consecutive terms until he became the Prime Minister of India in 2014. Before Narendra Modi became the Prime minister of India, corruption was the only key to success in India. A couple years ago, my mom got her divers license in Muscat, where I stay and she wanted Indian driving license so that she could drive in India as well. She went to the department office, and to her surprise there was this guy standing at the entrance of the office gate who was ready to give her an original driver’s license without having to give a test for half the price in no time. My mom did that because she didn’t want to stand in a line for like hours to get her license. Last summer, I drove to the department office to get my license but I couldn’t dare to get one illegally. Modi’s new law says that any person reporting an instance of corruption will be rewarded and person engaging in corruption will be punished. So now, you’ve got more eyes watching you than before if you’re in India committing any kind of crime. A brilliant idea to stop corruption because he realizes that not many are willing to eradicate corruption until they have some personal gain. During his election campaign, Modi spoke about his plan to replace the whole legal system of India with fewer new laws. The opposition party and many business men argued that only a more rigorous legal system can help prevent corruption. More than 65% of the population was corrupt. According to India times, Modi responded, â€Å"My election campaign is totally based on what I will do as a Prime Minister and what a government should do is to create a positive climate that will bring investment. I don’t make false promises. This is what I will do and vote for me only if you want this.† If I were him, then I would never dare to talk about such a plan that would invite criticism during the election campaign. Normally, a person would think that Modi just lost 65% of the votes that he had already won. But guess what, Modi not only had those 65% in his favor, but also the others supported him because he offered a brighter future for India. Previously, one would need to take multiple approvals for an action, running from this govt office to that govt office, etc. Today you need to go to one govt office where you only need to take a couple approvals to begin action. According to times of  India, Modi created history when he invited the prime ministers of the south Asian countries including that of Pakistan to his prime ministerial swearing ceremony after which they discussed their political issues. Getting over the ego, takes a lot of guts. In an important meeting with representatives of the neighboring countries, he asked the nations to be clear and declare immediately whether the countries were with India or against India, so that it isn’t like good face to face and later crossing borders and firing soldiers. The outcome of this meeting was a peace treaty signed by South Asian prime ministers (SO no more world war 3 between India and Pakistan), improved trade relations and took action for the better of collective south Asia. Here is a glass of water. Some people will say that the glass is half filled by water, some will say that the glass is half empty. He believes in the third view as explained in the Economic Times. According to him, the glass is half of water and half of air because only optimism can encourage courage. Here is a short video of what the Indian prime minister has accomplished in his 1st 100 working days which no other prime minister ever has. TO conclude,  Modi is a business man because he is a risk-taking, profit-minded person and I call him courageous because he has the courage to believe the unbelievable. Today, he is the inspiration of Indian youth. If you’re looking for Leadership, Governance and Decision Making, then vote for Modi. Thank you. Modi says, â€Å"people throw stones at me and I show courage by collecting those stones and making a temple out of them.† During his election campaign, he openly blamed the then chief minister of Delhi for corruption. The whole of india blindly trusted her that time because she was like this mother figure who would die for her country and blabla. Guess what, delhi chief minister was investigated and she was found guilty. Imagine, if she was not found guilty which was very much possible considering the power she had, then he would have not gained a single vote. He says that business lies in taking risks and higher the risks, higher the profits are. Modi had applied for visa to the United States and was rejected  3 times while he was the chief minister of Gujarat. But one day before the 2014 prime ministerial election results were out, Barak Obama sent an invitation to Narendra Modi requesting him to visit America. This doesn’t talk about Modi’s courage but indirectly speaks about his bold and aggressive nature which even forced Obama to invite Modi a day before he was announced as the Pri me Minister.

Another Stressful Evening as Mayor in SimCity 4 :: Personal Narrative Writing

Another Stressful Evening as Mayor in SimCity 4 Somewhere, unpublished in bookform, a famous mayor once said, "Show me a man without a vice and I'll show you an arid mind." Everyone has their soft spot: if it's not cigarettes, it's alcohol or else mingling with the wrong partners. Mine is composed of seven letters and a magic number: SimCity 4. After six in the evening, I quit the word processor, e-mailer, my browser's online dictionary window and settle back in the swivel chair. It's time to clock in as mayor. Pursky Muska: A bustling city in the southeastern part of Maxisland, connected to the farm country of Yarbow by railway. Tourist attractions include Big Ben, the Washington Monument, a minor league stadium, a chic country club and two seaports. Population size is 42,499. The 6:02 News: Bunnies have long history of aggression, also have deep philosophical side. The first few minutes are usually the calmest, the perfect occasion to plant oak saplings on the parking lots of industrial buildings and blue spruce pines on residential backyards. This has environmental advisor Camille Meadows doffing her yellow straw hat in my direction. Trees reduce air pollution, and at 3 simoleons each, I call it a bargain. Thanks to an mp3 program, importing songs in the game is a breeze. Joan Osborne's What If God Was One Of Us plays in the background. My bunny slippers tap in time with the beat. I have successfully moved J. Alfred Prufrock, complete with the fancy hat and pipe I chose myself, from the futureless Sims neighborhood, to the Ryan Apartments. Born somewhere outside Eliot's Waste Land, he was living with his cousin, Nancy Ellicott in a two-story house at 79 Crumplebottom Court. Recent conflicts with stray cats and Nancy's obsessed fan hardened his will to look for brighter horizons to such a point that he was seriously considering the marriage proposal of a certain Antonio Salieri... but that's in another game. Right now he is happily driving a blue pick-up going to work at Havoc Bioenhancements and seems to have adapted well in his environment. At first, he ranted against the noise and traffic caused by the motor inn across the street. Ever since his brother-in-law came to visit, he realized the advantages of having one nearby. He now maintains that it is indispensable for really obnoxious relative relief. The 6:06 News: Words "Have a nice day" produce psychosis in 3% of hearers

Animal Farm Essay

An allegory is symbolic narrative and the novel Animal Farm is nothing but symbolism. This novel represents many historical events that happened in Russia during the Russian Revolution. There are numerous battles in this book that symbolize the Revolution and other attacks that took place in Russia during the 18th century. This novel also represents the control of power and the people who gain it. Most of the animals on this farm symbolize people in Russian history. The novel Animal Farm has many characters that represent important figures in the Russian Revolution. In the beginning of this book Old Major tells the farm about his dream of a rebellion and how he believes that all the animals shall live equally and how someday they will not live by the rules of their farmer. Old Major represents Karl Marx. Karl Marx was the one who spoke of the rebellion and led people to think of ideas to start this historical movement but didn’t carry on the deed of following through with his ideas. Old Major’s speech had lead to many conversations and secret meetings that the animals put together. This is what happened after Karl Marx idea spread. Soon enough everyone was talking about a rebellion or an overthrow of the government. For the animals in the novel the Rebellion came and they went against their farmer in a full protest and chased him and his wife away from the farm. This represented the overthrow of the government for the Russians. After the Rebellion two leaders emerged and helped the animals work and run the farm smoothly. The two were Snowball and Napoleon. These pigs made the commandments and set the rules so that the animals kept themselves and the farm healthy. The two pigs represent two very different people in the Russian Revolution. Snowball represents Leon Trotsky and Napoleon represents Joseph Stalin. These two men try to run Russia for as long as they could with no troubles. The animals are soon encountered with a troublesome battle, The Battle of the Cowshed. The farmers come back and try to take back the farm. The farmers don’t succeed in doing this and sent home disappointed and a man short. This point in the book is symbolizing the Russian Civil War. Soon the animals are being split into classes and one class is starting to rise in power. The pigs are starting to do more and not have to work as hard. The other animals, on the other hand, have to work extra hard to get half the luxuries the pigs have. Boxer, the horse, always works hard and is loyal to the pigs and their decisions. Boxer represents the obedient, hard working people of Russia. Mollie, the pig, hides during battles and can be taken anywhere as long as there are sugar lumps and bows. Mollie represents the selfish vain people of Russia. The pigs are being put on the pedestal and are represented of the Loyalists of the Communist Party. These groups are starting to be more unequal the longer the pigs have control. This happens with the upperclassmen of the Revolution and the lower classmen will soon be unhappy. The next battle occurs over a windmill and is remembered as the Battle of the Windmill to the animals. This battle occurs when Napoleon thinks the windmill is an absurd idea and scares Snowball away using fear to control the farm. He brings out the dogs that are the â€Å"bodyguards† of the farm and are meant to scare the animals into doing what Napoleon wants them to do. The dogs represent KGB, secret police whom Stalin uses to control society. The Battle of the Windmill also represents the Russian Civil War but it also represents Stalin’s rise in power. The power that Napoleon gains makes him horrible and unfair, the animals are not as smart as him so they do not know what is happening behind the scenes. Napoleon starts changing every commandment and starts acting more like a human than anything else. This is amusing because the farm and the animals except the pigs are treated the same or maybe poorer than when Jones the farmer was in charge. Stalin, represented by Napoleon the pig, uses fear to control society and has made Russia worse than it was when the Czar was still ruling. The only thing that had gotten better is the conditions of the Loyalists of the Communist Party. As you can see this whole book is an allegory. The novel Animal Farm represents different historical figures and events from the Russian Revolution. The novel symbolizes how corrupt a person and society can be if given too much power. Animal Farm is a great representation of how Russian government was ran and how certain â€Å"classes† were treated.

Minorities at War Essay

Many people’s lives changed in various ways during and after the World War II. The lives of women and minorities such as African Americans and Native Americans, changed drastically mostly in a positive way. Just like during most wars, women found jobs and opportunities. This was mainly because men and husbands went to work in industries and factories in different parts of the country while others went to war as soldiers. With reduction in the male taskforce, young girls and married women had to take up responsibilities and jobs that were traditionally considered to be for men (Mays 17). Unlike the First World War, where women served as secretaries and nurses, in the Second World War they were placed in more skilled jobs such as: research, electronics, engineering and mechanics (Mays 17). The Women’s Army Corps was created in 1942, which enabled women to participate in combat fields as pilots and other support personnel but not in direct combat. The war served as a major platform for women in society, women started being viewed as useful in various fields and not just as caregivers. The opportunity to take part in jobs that were traditionally considered for men also empowered women psychologically (Mays 17). The fight for equality for all citizens began after the civil war where President Lincoln freed the slaves. The Select Service Act was passed in 1940, allowing Hispanics, Native-Americans and African-Americans to enroll to all the branches of the army. The war offered opportunities for many African Americans to escape poverty in their rural homes (Reinhardt and Ganzel). Many blacks enlisted in the army trying to escape a long period of tenant farming and Depression in the Midwest and South. The army recruited Negroes but still practiced segregation (Reinhardt and Ganzel). In the chaos of war, especially after Pearl Harbor, the army had to work together and segregation was broken. After the war, many blacks opted to remain in towns and do work related to what they did in the army instead of going back to their rural homes (Reinhardt and Ganzel). Movements for fighting for civil rights had been created. The post-war era, was a period of exceptional struggle by the African Americans against the second class citizenship that had been accorded to them. They resisted racial discrimination and segregation through nationwide protests, boycotts, rallies and civil disobedience (Reinhardt and Ganzel). Many blacks joined civil rights movements and legal efforts were made to challenge segregation and inequality through courts. These efforts were rewarded with the passing of the Civil Rights Act in 1964 which outlawed racism and segregation. In 1965, the Voting Rights Act was also passed allowing all races to vote. The passing of these acts was a great step in the demise of second class citizenship (Reinhardt and Ganzel). The struggle by the blacks to achieve equality inspired and influenced other civil rights groups as well such as Native–Americans and Hispanics. The war as witnessed was a great turning point for both women and minorities in America. They were all empowered by the situations created by the war to improve their status in society and fight for their rights. Work Cited: Mays, Dorothy A. Women in early America: struggle, survival, and freedom in a new world. Santa Barbara: ABC-CLIO Inc. Publishers, 2004. Reinhardt, Claudia and Ganzel, Bill. â€Å"Civil Rights for Minorities†. Wesley Living History Farm. 26 August 2010 from: http://www. livinghistoryfarm. org/farminginthe40s/life_18. html

Successful Relationships essays

Successful Relationships essays Successful relationships can be formed through many different ways of attraction including similarity of interest, differences that are complementary, reciprocal attraction, competence, self-disclosure, and proximity. Because of the presence of many of these factors, my parents began a relationship that has endured for almost twenty years. Self-disclosure, intimacy, and respect are three of the most important ingredients in developing and maintaining a meaningful relationship. Through the breadth of self-disclosure, shared intimacy, and respect for one another, my parents have built an enjoyable positive personal relationship. Since my parents did not grown up near each other, the early part of their relationship developed through the breadth of self-disclosure. Self-disclosure is a deliberate and gradual process of revealing significant information about ones self to another that would not normally be known by others. Because most of their past was not known to each other, there was a lot of information that needed to be shared about their past experiences, likes and dislikes, and goals for the future. Having begun their relationship with a great deal of self-disclosure, it prepared them for a lifelong practice of sharing. The breadth of disclosure expands continually and extends through all the areas of their life, as they readily share their daily experiences. My parents have approached this activity with wisdom, care, honesty, and mutual respect for one anothers feelings. This keeps my parents relationship strong and vibrant when there are so many elements that could bring a wedge between them. Meeks, Brenda S., Susan S. Hendrick, and Clyde Hendrick have come up with a hypothesis that, One's own self-disclosure and perceptions of the partner's self-disclosure are both positively related to one's relational satisfaction, with own disclosure more strongly related than partner disclosure (26). By both...

Open Source Software essays

Open Source Software essays How would you feel if you could do absolutely anything you wanted to with your software and distribute it legally to as many people as you wanted? How would you feel if you could get a program for free or a fraction of the cost of applications like Adobe Photoshop, or Microsoft Office? This is possible with open-source software. The term open-source is defined to describe software, which is available to the public in source code form that does not have licensing restrictions, which limit use, modification, or redistribution. The etymology stems of the word open comes from the Proto-Germanic term upana which means raised up. The word source comes from the Old French term sourse which means to rise, or spring up. Teams of programmers scattered around the world typically develop open-source software, but universities, government agencies, and corporations like IBM also develop it. Why is open-source software good for consumers, corporations, and even students? Teachers and students have full access to the internals of the program, which allow them to find out how a program works and helps the learning process of programming in general. Corporations and home users dont have to wait for just one single company such as Microsoft to release updates or patches to broken software, instead a community of software developers provide fixes for open-source software a lot quicker than just one company. With the freedom from the restrictions of use, modification, and redistribution, open-source software has been proven to be scaleable, more reliable, more secure, and perform better than closed-source software. Exactly how did open-source software get started? In the 1970s, the success of proprietary operating systems, particularly UNIX, created frustration in the academic community, who could not use these systems for study or teaching. This situation mo...

How to Perform Better at the Examination

How to Perform Better at the Examination Does Persistent Studying Improve Your Performance? Would you believe me if I told you that taking a 360-degree shift in your study routine during one of the semesters could transform and change your grades for the better? As the adage goes, ‘practice makes perfect. Every endeavor, be it sports, singing competition or a spelling bee, practice is essential to guarantee good results. University education is no exception, and persistent studying is vital for delighting grades. Is this article relevant and helpful to you? Did its title spark questions in you like what type of a student and reader I am? Am I conducting my studies the right way and so forth? Did it attract, make you curious to find out what its contents were perhaps because you thought the information would be of help to you? If not, were you on the internet and came across it? The purpose of these questions is to demonstrate that reading at the university is dissimilar to other forms of text. For example, reading a thriller novel by your favorite author is utterly different from university reading. Even though many students are aware of this fact, a majority do not practice constant studying and only get engaged when the examination is nearly approaching. Persistent reading has a considerable impact on your performance as it tends to improve it. A students ability to read and understand a great deal of content has two main benefits. Foremost, at the institutions of higher learning, students are required to read plenty of materials for different subjects and expected to attain a particular grade in an examination. Being able to read and understand within a short period will come in handy. The other benefit is that great reading skills will help you sail through the not so exciting topics you need to learn regardless. As opposed to reading an amusing article from a fashion magazine or a novel that you have picked for yourself, some university materials can be not as engaging. The objective of this article is to provide you with some studying and revision techniques that will guide you as you prepare for the exam but have little time on your side to go through all the notes. What is persistent reading? According to the Cambridge English Dictionary, an inert person is who has little or no impact on something and lack the desire to do so. Similarly, a passive reader does not bother to examine, scrutinize or appraise any content. On the contrary, an active reader takes the whole process to another level as they put in more effort. They not only read through the pages, but they are eager to know why the author is inclined to their views or statements, they are inquisitive. Reading to them is like a deliberation, the reader seeks facts, critiques and evaluates the information before processing it. Three phases characterize the study activity; before the study, during the research and post-study and the three stages play a different role in the study process. Active and passive readers will employ different tactics through the three stages of studying. Before the study, an enthusiastic reader kicks off the process by identifying the topic under review, think about it and highlight the things they need to know at the end of the study. For the duration of the study, the lively reader will divide the topic into small sections/subheadings that will organize the process as each subsection is assigned a specific time. Additionally, the learner poses queries which they anticipate the material to respond to as the contents unfold. Ultimately after completing the study, an active reader will make short notes that recap what they have learned. The remaining question that lingers is, how do I become an active reader? Or if you are already one, how do you perfect this art? Well, the answer is simple, practice, dedication and more practice. Below are some tacks that will guide you as you endeavor to polish your reading habits. Popular active studying methods Flick through the material Perusing through the material is the practice of highlighting and memorizing the important parts of the content exclusive of an in-depth revision. Flicking through is convenient for you especially when you are facing time constraints although, for an active reader, this is merely the beginning of the study process. During the period leading to the examination, browsing through the chapters will shed some light on what the topics are about giving you a rough idea of what to expect. Lively learners do not regard perusing as a study technique as it comes before the reading process (outlined earlier). Perusing is only intended to feed their curiosity of what to anticipate. Analytical studying Parallel to active studying where the students pose many queries that the material needs to clear up as it unfolds, analytical studying is comparable to this. Analytical studying involves the reader trying to get into the mind of the author, understand what they were thinking and feeling at the time and figure out the relevance of their message in regards to the context. Afterward, the students offer a critique of the material. Analytical reading and critiquing the material read does not imply that you have to be disapproving and pessimistic, but you give your honest opinion. However, in many cases, analytical studying involves being disapproving. Examining Examining is the process of paying close attention to something. Dissimilar to flicking through the material, scrutinizing takes more time as it seeks to find a specific answer to a particular question. Suppose you are doing your math take away assignment and cannot quite remember how to solve the problem, carefully examining how you went about it in class will help you solve the problem. Examining is particularly vital for the ‘after study phase. The SQ3R System The SQ3R is one of the most successful studying systems that a majority of students apply. This system advises students to survey (S), question (Q), read, recall, and review (3R). SQ3R is a sophisticated study technique perfect for students in higher learning institutions. The method will assist you as read either journals, textbooks, discussion papers and so forth. Unlike the other study methods discussed earlier, the SQ3R will give you a better understanding of the materials you are reading. This understanding, however, does not come easy, the SQ3R is time-consuming. The SQ3R reading technique will improve your study speed while reading classroom-related materials, but longer compared to reading articles that are of interest to you, say an article on Forbes Magazine on the 10 Richest Entrepreneurs in the World. The use of SQ3R results in better performance making the efforts exerted profitably rewarding. Consequently, what is SQ3R all about? Survey The survey involves perusing through the materials and identifying the important aspects such as the title, the outline, table of contents and if there are any demonstrations like charts, tables, graphs and pictures in the chapter. Essentially, by surveying, you are observing the chapter to determine the theme(s) that run through to get a feeling of what to expect when you begin reading. You will also want to be on the lookout for jargons (words you are seeing for the first time and do not know how to pronounce or spell them). Surveying gives you ample time to research the words on the internet or by using a dictionary. Ideally, the survey should take as little time as you possibly can depending on the length of the chapter. At this juncture, critical reading and evaluation are of no importance since you only need to get a hold of the principal theme. Question At this point, you need to ask yourself these four main questions and attempt to answer them. What is the fundamental idea? Is there any proof to uphold the idea? What are they? Are there illustrations used as proof? How does this idea associate to the journal (or any other material you are reading) and to me as a person? The best way to go about this is to read every first heading, subheading, sentence of each passage and convert it into a question. The questions will to some extent convey the idea(s) the author is trying to put across. Forming the questions is not the only task at this stage. You are also required to answer them or at least make an effort. By simply forming the questions you will not have satisfied the conditions necessary for this step, and your efforts will have been in vain. Read This word means exactly how it spells, read. Take your time and study. Studying can be tiresome as it is a weak competitor for most students, but still, you need to study. To break the monotony, take a short break ranging from 10-15 minutes between your studying. You can choose to use the Pomodoro system of productivity and assign each topic a specific time incorporating short breaks in between. This method will help you remain focused on accomplishing the mission at hand. The best way to ensure that you truly understand what you are reading is by writing short notes, highlighting or writing on the margin. The short notes should be the main points, facts or formula you come across while studying. The benefit of writing short notes or highlighting is it not only improves your level of comprehension, but it also guarantees that you capture the man ideas expressed. In case you are using the marker, ensure you do not go on a making spray as the aim is not to be the best ‘highlighter but fathom the material. Recall This step is the defining factor that concludes whether you have grasped and understood what you have been reading. Different people term it differently, but the meaning remains uncorrupted. The suggested procedure is first to put your books aside and try to recall what you have learned and recognized vociferous (you can record for future usage). Finally, look at the questions you had set up and establish whether you answered them or not and if not, repeat the process and reread the materials and see if you will capture something new. If you have fully understood, reciting the content will be a walk in the park, but if not, you will find it a challenge and, in this case, it advisable that you go through the chapter and re-read. Each student has unique cognitive capabilities. Some students can recite a whole chapter while others might find it difficult and prefer to recite after every subsection. Recollecting a whole chapter from memory can prove to be an intricate test after all are we not humans? It is entirely up to you to figure out where you lie and pick the option more suitable for you. Review Reviewing is the last step in the SQ3R reading system. Reviewing is perhaps the most important step that as a student you should adhere to carefully. Owing to the human nature, we tend to forget things over time and as such, you should constantly review what you read, recite it over and over again and in case you have forgotten, please consult your book. A few days to the test, you should reread your materials more frequently (maybe in the morning and at night before going to bed), but if the exam is a few weeks away, weekly reviews should be enough. To put it briefly†¦ At the beginning of this article, we introduced you to the concept of lively and inert readers. My advice, strive to be as enthusiastic as you can during your class readings as it matters a lot. For your other leisure readings, you can be inert or decide to take the active reading all the way. Subsequently, we introduced you to the different methods of persistent studying (try and recall them). The SQ3R stood out form the rest due to its unique features; besides being time consuming and effort dependent, it yields satisfying results. Investigate which one works best for you and run with it towards your goal of becoming a competent reader. Persistent studying is vital for any student especially for article writing and responding to argumentative questions. Active studying not only improves the students comprehension ability, but it also makes them good at articulating issues by asking questions before processing any information. ‘Change is the only constant thing in life, most people say. Change takes time, and you should not pressure yourself beyond your ability while adopting the new study techniques. Take each day at a time in perfecting your art of reading, and with time, you will get there.

Trading System Research Paper Example | Topics and Well Written Essays - 2500 words

Trading System - Research Paper Example Similarly the fund would not wait for the market to bottom out before taking a decision on going long and that it would go long once market moves down somewhere between the peak and the bottom. Either strategies would imply that the fund is not looking for excessive and speculative gains; nevertheless it does maintain inherent profit booking targets. The trading system explained below is based on trading rules that were tested for profits results based on this risk philosophy. Financial theory, taught in finance textbooks the globe over, normally exposes a student of finance to the concepts like the efficient market hypothesis and the economically rational individual. Bubbles and crashes seem to defy these two seminal concepts with an awkwardness equivalent to the awkwardness one would attach to those things on earth that defy gravity. Nevertheless such extreme stock market movements are a reality. Bubbles make investing decisions arduous as stock prices tend to deviate by substantial margins from their fundamental valuations. Investors relying on past company results and technical analysis are equally defeated in such situations as is the EMH.In fact, investors always act on the basis that they have an applicable construct to explain stock price movements and tend to input all available information collected under such constructs in their investment decisions (Poole 2000). Finance research has also held varying opinions on this issue. For instance, Bierm ann (1995) supports the idea that market prices are determined from backward looking investors than by those that indulge in predictions of all sorts. Others have, for example elaborated on the use of price to earnings ratios to determine excess market valuations. Some technical work has set to rest in a convincing manner the phenomenon of bubbles and bursts. For instance, Graham (1973) describes in details why markets fluctuate and how to deal with the violent fluctuations .Graham discusses five basic points to read into cross sectional view of market bubbles. Most of these points concern factors like growth and earnings and their impact on price movements and price levels. Graham (1973), in fact, provides a much better viewpoint on gauging market bubbles through an adaptive expectations model.The Efficient Markets Hypothesis (EMH) states that current prices always 'fully reflect' available information, so that the only reason prices change between time t and time t+1 is the arriva l of new information. The EMH requires that only two necessary conditions be met. First, the market must be aware of all available information .The type of information available is determined by the strength of the EMH being tested. In a Weak Form EMH, current prices entirely reflect all that can be known from the study of historical prices and trading volumes. If the Weak Form is valid, technical analysis becomes ineffective. Any information contained in past prices has been analyzed and acted on by the market, so that shares are neither under-valued nor over-valued. In a Semi- Strong EMH, current prices efficiently adjust to information that is publicly available. If this form of the hypothesis holds true,

Critique of Articles on Opiates Essay Example | Topics and Well Written Essays - 750 words

Critique of Articles on Opiates - Essay Example NIDA/NIH also states that â€Å"opiates used without a doctor’s prescription or in ways other than how they are prescribed, can be dangerous and addictive.† Additional information has also been provided on how opiates act on the brain and nervous system in giving feelings of pleasure, relaxation and contentment; acting as an automatic response mechanisms and how it acts on the spinal cord to reduce pain. The article also provides information on how persons can become addicted to opiates which acts on brain stems that controls the automatic response mechanism of the body.. Goodnough’s article entitled â€Å"Abuse of Xanax Leads a Clinic to Halt Supply† points to widespread abuse of the opiate Xanax. It looks at preventative measures that have been taken at the Seven Counties and other Health Centers in the United States to prevent the abuse of opiates like Xanax. Goodnough indicates that: â€Å"The experiment will be closely watched in a State that has wre stled with widespread prescription drug abuse for more than a decade†. The article points to serious repercussions since its withdrawal such as the killing of a doctor by a patient demanding a prescription for the drug. Patients who have been taken off the drugs have complained of increased anxiety since the change as the alternative drugs are not as effective. However, doctors have indicated that there are other ways to treat panic and anxiety disorders. In fact Dr. Hedges (qtd in Goodnough 2011) indicates that â€Å"the risk to the community, if we continue to use this medication is very high†. The article also points out that contrary to popular thinking, the misuse and abuse of Xanax knows no class boundary as people from all walks of life use the drug for various reasons. 3. Comparison and Critique Both articles take a different approach in controlling the use of opiates. NIDA/NIH focuses on opiates in general and mentions a gives a few examples while Goodnough dea ls specifically with Xanax. Both use pictures to give the articles prominence but NIDA/NIH article was more prominent than that of Goodnough. The one picture used by Goodnough was over-bearing and does not really serve any useful purpose in terms of assisting readers in understanding the article. A reader has to really take a second or a third look to really connect the picture to the article. NIH/NIDA on the other hand used several pictures to explain how opiates work, the effects they have on certain parts of the body and how people become addicted to these kinds of drugs. The pictures compel the reader to read the article by drawing attention to it and are useful for a better understanding and appreciation of the article. The use of a variety of colors in the text also added meaning to the NIH/NIDA article. While both articles state some disadvantages of taking the drugs pointing to the effects that it can have on persons who abuse it, NIDA/NIH focuses on how it affects certain p arts of the body. Goodnough focuses on what is being done to control the use of a specific Opiate Xanax in order to prevent its abuse. Goodnough also suggests ways in which misuse and abuse can be prevented. The article looks at the transition process in getting patients off the opiate to another the drug. NIH

Critically discuss the applicability of the Elaboration Likelihood Essay

Critically discuss the applicability of the Elaboration Likelihood Model to understanding consumer behaviour - Essay Example mentioned ways, it is extremely crucial for the marketers to have an understanding about how the customers process the information that they come across as ads. Numerous models and theories have been proposed that have elaborated upon the manner in which customers assimilate and process the information as well as on the way ads and other marketing communications impact on the consumer behaviour (Cohen, 1990). Elaboration Likelihood Model (ELM), put forward by researchers Petty and Cacioppo (1983, 1986) is among the oldest and the most popular models that define how consumers formulate their attitudes towards a product or service on the basis of the communications that they receive as advertising. ELM has been employed by marketers and advertisers in making their communications more effective. ELM has also given the basic groundwork and direction to further research in areas like consumer cognitive processes and marketing communications elaboration. (Petty., Priester & Wegener, 1994).The current paper is aimed at evaluating the applicability of ELM to understanding consumer behaviour. The paper will begin with a brief overview of ELM and will contain a critical appraisal of its applicability in the consumer behaviour field. More specifically, it will focus on how ELM provides insights about consumer behaviour which in turn leads to more targeted and cost-effective advertising. The discuss ion will also include some of the weak points of ELM that need to be addressed in order to improve its applicability in the consumer behaviour field. The Elaboration Likelihood Model, when used in an advertising context, postulates that prospective customers form attitudes about ad messages via a process of message elaboration – or the amount of time and effort they spend on issue-relevant messaging. The extent to which they are likely to elaborate the message leads to two very different routes of information processing in the minds of the customers. These are the central

The purpose of this project is to better understand the effectiveness Term Paper

The purpose of this project is to better understand the effectiveness of the sling in hunting and combat - Term Paper Example Archaeologists give us a number of answers, one of which points to the use of sling. A sling may simply be explained to be an effective personal projectile weapon that was used in ancient times for purposes of protecting herds, hunting, and combat (York and York 2011: 56-59). Fundamentally, sling was used as a hand-on weapon that was fired by the use of the arm. Users loaded the sling with offensive pellets that included stones and clay. The carriers then spanned the sling in their arms till they felt they had gathered enough force or pressure in the sling before finally releasing it towards their enemies. A very popular story of the use of the sling is told in the story of David and Goliath, where we are told that David used a sling to project a stone against Goliath. There is a lesson learnt from slings here and that is, slings were very powerful weapons and once they were in the right hands, the size of the opponent or target was not a problem. As a shepherd, David was familiar wi th the use of the sling and so he succeeded. It is in this direction that this project is trying to find out how slings could be used effectively to accomplish hunting and combative missions even in today’s cotemporary world. Known history behind the sling Thanks to archaeologists, history behind the sling is fading no time soon. ... Again, history has it the use of sling can be traced to all continents of the world. Archaeologists today have, however, gathered more evidence on the presence and use of the sling in Europe and the Near East (Korfmann 1973: 33-37). What is even more beautiful among the role of the sling in world history is that up to date, the use of the sling are symbolically still in place in areas of the world such as Southern Africa, Pacific Island, Mediterranean and Andean cultures. The slings are used for traditional memorial contests, historical recreations and festival purposes. Much of the history also points to the reasons why the use of the sling started at all. In fact, the use of slings, though became very popular in battle, was not originally meant for that purpose. Knowing that man was basically living with wildlife in the forest in the days of old, the design of the sling was actually necessitated as a weapon for protecting man from carnivores and other dangerous animals that could a ttack them. The sling was found to be preferably for this course because it has the ability to swing its shot to chase the animals, most of which were very athletic. Materials and construction Even in the ancient times, the materials used in the construction of slings underwent a lot of changes. Generally, the weapon was inexpensive to make as its construction involved the use of readily available materials in the human environment. Basically, a sling was constructed to have a cord and a pouch. One ideal factor was that both the cord and the pouch needed not to be elastic. To this end, materials that were used in the construction included animal hide, flax, hair, hemp, plant fibers, sinew and wool. The ideal behind

Gold Marilyn Monroe and Self-Portrait with Cropped Hair Essay

Gold Marilyn Monroe and Self-Portrait with Cropped Hair - Essay Example The essay "Gold Marilyn Monroe and Self-Portrait with Cropped Hair" analyzes wo paintings, Self-Portrait with Cropped Hair by Frida Kahlo and Gold Marilyn Monroe by Andy Warhol. Self-Portrait with Cropped Hair, by Frida Kahlo hangs at the Museum of Modern Art in New York, currently on show among other masterpieces of the time. Kahlo painted this medium-sized canvas in 1940, shortly after her divorce from Diego Rivera. Theirs was a tempestuous relationship, shown by their remarriage the following year and the content of this picture, which shows Kahlo after she sheared off most of her long hair . Many art critics have opinions about why she painted herself in such a masculine way: short hair, man’s suit, unladylike posture. It is perhaps to state that after her husband’s infidelity with her own sister Cristina, she was making herself unattractive, unfeminine and unapproachable. Others say she always had masculine tendencies, shown by her relationships with women. The tru th lies somewhere between, more related to grief and mourning than to statements of gender. Kahlo was part Jewish. She was very close to her German-Jewish father Wilhelm Kahlo , and was probably expressing the Jewish way of grieving something lost, something dead: her love. The verse from Jeremiah (Ch 7, v 29), in the Old Testament: ‘Shave your head in mourning, and weep alone on the mountains.’ And in Micah Ch 1:1, ‘Weep, you people of Judah! Shave your heads in sorrow...’ are well known. It is almost certain Kahlo would have known.

Discuss The Effects That Multinational companies can have on a host Essay

Discuss The Effects That Multinational companies can have on a host acountry - Essay Example The many economic benefits to host countries have prompted many countries around the world, including developed and developing countries to focusing on attracting multinational companies or foreign direct investments as they are also called. Even countries that were otherwise hostile to these types of investments have been seeing them in a positive light. The targeting of these multinational companies has become an important development strategy as countries such as Ireland provide grants towards start up costs and research and development (Jensen 2006:38 ). One effect that multinational companies have on a host country is the economic and financial benefits that are gained by the host country. Especially in developing countries this is a welcome change for both the worker and the political directorate. High employment levels are a panacea for political and social stability. In many cases multinational companies pay higher wages than local companies. The high demand for workers also contributes to the higher wages. The workers also receive training in technology, management, and entrepreneurial expertise that can be transferred to other facilities and areas in the country. Some employees also receive training in the parent company overseas. Consequently, the host now will now have a more highly skilled workforce that will be better able to compete with other countries. The host country will also receive economic gain through revenues paid to the government. Generally the companies are subjected to the different tax guidelines of the countries. In many cases the bargaining power of the host country helps these countries in securing major financial benefits. These tax incentives will increase economic growth and progress and will also help in stabilizing local currencies. The host country will also benefit from improved and new infrastructure. These developments help not only as an immediate benefit but in the long run as well.

Gold Marilyn Monroe and Self-Portrait with Cropped Hair Essay

Gold Marilyn Monroe and Self-Portrait with Cropped Hair - Essay Example The essay "Gold Marilyn Monroe and Self-Portrait with Cropped Hair" analyzes wo paintings, Self-Portrait with Cropped Hair by Frida Kahlo and Gold Marilyn Monroe by Andy Warhol. Self-Portrait with Cropped Hair, by Frida Kahlo hangs at the Museum of Modern Art in New York, currently on show among other masterpieces of the time. Kahlo painted this medium-sized canvas in 1940, shortly after her divorce from Diego Rivera. Theirs was a tempestuous relationship, shown by their remarriage the following year and the content of this picture, which shows Kahlo after she sheared off most of her long hair . Many art critics have opinions about why she painted herself in such a masculine way: short hair, man’s suit, unladylike posture. It is perhaps to state that after her husband’s infidelity with her own sister Cristina, she was making herself unattractive, unfeminine and unapproachable. Others say she always had masculine tendencies, shown by her relationships with women. The tru th lies somewhere between, more related to grief and mourning than to statements of gender. Kahlo was part Jewish. She was very close to her German-Jewish father Wilhelm Kahlo , and was probably expressing the Jewish way of grieving something lost, something dead: her love. The verse from Jeremiah (Ch 7, v 29), in the Old Testament: ‘Shave your head in mourning, and weep alone on the mountains.’ And in Micah Ch 1:1, ‘Weep, you people of Judah! Shave your heads in sorrow...’ are well known. It is almost certain Kahlo would have known.

Visual Arts - Charlie Chaplin Research Paper Example | Topics and Well Written Essays - 1000 words

Visual Arts - Charlie Chaplin - Research Paper Example One of such icon was Charlie Chaplin. He was one of icon that revolutionized this industry in the 20th century until his death. This paper seeks to discuss Charlie Chaplin and his life. The original homeland of Charlie Spencer Chaplin was London. He was born on 16 April 1889. His father was a vocalist and an actor. Additionally, his mother was a beautiful actor and singer; she was famous during this period. Initially his father used to support his family but later he started engaging in drinking spree, and this affected the family for a long time. This was further compounded by his mother ailing health. His father died later due to the effects of over drinking. As a result, Charlie Chaplin and his brother took care of each other during their childhood period. Sydney was the one who took care to his little brother in his lifetime. Their family was ravaged by poverty, and this forced them to spend life in workhouses at their tender age. Whatever they got, they used to support their mot her. Sydney was later sent to training ship known as Exmouth and acted as a steward in shipping expeditions (Milton 8-17). On his return home in 1903, he became ill. Later he found his mother in a mental hospital while his brother had been reduced to a destitute. However, they had inherited talents from their parents and this facilitated heir entry into the stage performance. This made them turn to the theater to change their lives. Charlie entry to stage performance was through the young kids group known as â€Å"The Eight Lancashire Lads† (Burt 71). This stage performance made him popular and a famous tap dancer. Chaplin career extended for a long period. At the age of twelve, he got a chance to act in a legitimate stage show. In the show, he took the role of â€Å"Billy† the pageboy. At the end of this show, he took started acting as a comedian. Eventually, he went to United States in 1910 with the assistance of Fred Karno Reportoire Company. â€Å"A Night in an En glish Music Hall† gave him fame in American audiences (Edna Purviance Web). On return of Fred Karno Troupe to America, he was offered a motion picture contract. In 1913, he agreed to appear before camera upon expiry of his Vaudeville commitments. His success attracted attention of other producers. Upon expiry of his contract, he joined Essanay Company in 1915 (Parish 210-215). Finally, he joined Mutual Film Corporation before he became an independent producer. After gaining independence, he got his own studio located at La Brea Avenue in Hollywood. In 1918, he entered into union with First National Exhibitors due to his pictures. This was a cornerstone for his success in the future. Chaplin had several lovers. Chaplin was married at a young age. His first wife was Midred Harris an actor whom he married in 1918 (Parish 215). Their first child only lasted for three days. However, they later divorced in 1920. He married Lita Grey later. She was involved in various films such as, The Kid, The Gold Rush. She later fell in love with Charlie and became pregnant. They had two children, but later separated in a court case. Lita went on with her life coupled with alcoholism abuse. His third marriage was with Paulette Goddard, which lasted for six years. She acted in Modern Times and The Great Dictator. However, they divorced on common terms. The last marriage was with Oona O’Neill in 1943 (Edna Purviance Web). Though she was much younger than Charlie was, their marriage was for

Mapping an Argument Essay Example for Free

Mapping an Argument Essay The first article talks about the lack of regulation on the quality and safety of our food supply even though there are health food options, such as fruits and vegetables. Especially, in the federal school lunch programs that have contributed to poor health of our younger citizens. The United States has had one of the safest food systems in the world, but within the last few years 70 million Americans have gotten sick, 300,000 have been hospitalized, and 5,000 die from food-borne illnesses each year. Consumers always identify with wholesome – not harmful foods. Our children today are most at risk from these food threats, with about half of all food-borne illnesses hitting children under 15. The tens of millions of victims of food-borne illnesses represent only a small segment of the causalities from our failure as Americans to require safe and nutritious foods. A regulation of chemicals, many of the fruits and vegetables that should be healthy and nutritious are being laced with dangerous pesticides. Many foods that are being marketed to our children have trans-fats and high fructose corn syrup, that have contributed to the epidemic of obesity in young children, heart disease and diabetes in older populations. It is far from perfect, but the Food Safety Enhancement Act (HR2749) was passed by the House of Representatives in 2008 and has taken steps in the right direction. The Act has given more authority to the FDA, which had restored some of the power to conduct food inspections and strengthen oversight. Yes, many regulations have been in place but since January 2010, over 850,000 pounds of beef have been recalled due to E. oli. Like I said it is far from over, but many more safety legislation should be able to target the largest causes of these food-borne illnesses. I believe that all of this would not happen if the growth of small farms. The less risk of contamination and not as many people would be put into the hospital or even die because the animals, fruits and vegetables would be processed and cleaned correctly. They would be handled with no pesticides and would actually be more healthy then what is grown today. The second article talks about online poker. Many states are trying to outlaw online gambling, for example Minnesota, their arguments are trying to save citizens from ruin, but many states are running their own casino and betting operations. A ban on poker, a game the requires skill, is against American and capitalist principles and would restrict peoples freedom. Monday April 29, 2009, The Minnesota Department of Public Safety gave notice to all major internet service providers that they will be ordered to block service to a list of 200 internet gambling related sites. It may expand to â€Å"thousands† of sites, depending on compliance. Chris Fox, who plays poker for a living, is very biased about the issue since he plays poker for a living and if the ban is upheld, then he would have to move states. Canada on the other hand has not made online poker illegal and are much more friendly toward online poker players. Online poker is all about skill and defined on the Department of Public Safetys own website, games of skills are not illegal. When the government all of a suddenly tries to attempt something like enforcing a law that does not even really exist and try to prevent players from doing something that is actually legal, it is always about money or politics. In conclusion, there is really no conclusion since there are many ways around this prohibition and that it will not prevent anyone who really wants to play from getting online and playing poker where ever they choose to. The Wire Act of 1961, which was meant for preventing the transmission of sports bets over phone lines and the internet did not exist. Many people have emailed the Department of Justice to let them know that people play online poker every day and that they should come arrest these people, but never heard anything back. The threats that are used now are very minimal and will find other Americans to hassle.

Hoovers Relief Efforts Essay -- essays papers

Hoovers Relief Efforts In the early years of the Great Depression, before 1932, President Herbert Hoover was faced with a terrible problem. The entire country, and to a large degree the entire world, was in the midst of one of the worst economic recessions in current history. All around the country, people were out of work, down on their luck, and starving. One in every six American males was unemployed, and the future outlook was not much better. In 1930, drought struck Arkansas, worsening the already terrible conditions under which the poor sharecroppers and landowners lived in. The Depression had already been had on these farmers, who had seen the market value of their produce dwindle significantly. As conditions worsened, it soon became common for entire families to go without food for several days. President Hoover, aware of the terrible conditions, decided to turn the relief effort over to the Red Cross because he believed in private charities, and in self-help, rather than giving public money directly to individuals. This particular policy proved to be ineffective, and had terrible results. The Red Cross asked the landowners to look over their sharecroppers and determine which ones were in need of subsistence. This would have worked fine, except that the landowners were afraid that free food would cause the sharecroppers to not work as hard, and reported false figures. The other problem was that the Red Cross qui ckly ran out of resources when faced wit...

A Womans Role :: essays papers

A Womans Role According to Judeo-Christian tradition, divine edict clearly relegates women to a position of subservience beneath men, as expressed in the Genesis creation account. This idea of female servility has dominated Western culture for thousands of years with virtually no significant changes; only in the past several decades has the notion of male dominance lost wide-spread acceptance in America. Prior to this cultural shift, American ideology mandated that women dutifully obey their husbands and confine themselves to managing the home and raising children, thus depriving them of any power beyond the sphere of the home and rendering them dependent on their husbands. This mentality is especially apparent in the movie, The Sound of Music. In The Sound of Music, female characters are portrayed to be highly dependent upon men, a central aspect of the "traditional" woman's role. This is initially shown in the scene where Ralph and Liesl are singing and dancing in the gazebo. Liesl sings that she is "scared to face a world of men" and would like to depend on Ralph in order to alleviate her fear. Ralph acknowledges and accepts her submission, telling Liesl that since he is "older and wiser" he will take care of her. Liesl offers to submit herself to Ralph in accordance with her preconceived notion of male-female relationships, thus fulfilling her yearning of security in social normalcy. She is willing to become dependent upon Ralph and cross the threshold into traditional womanhood. Although she may wear a mask of independence, Maria also fills the role of the traditional woman. Independence can be measured by the amount of control one has over her own life, and, if Maria's control over herself is analyzed, it is clear that she lacks independence. Initially, Maria appears to be independent when she ignores the Captain's prescriptions for stern child raising and defies his direct orders by making the children "play clothes". When Maria is reprimanded for her actions, she stands up to the Captain, criticizing the way he raises his children. Through these actions, Maria seems to deviate from stereotypical feminine behavior by challenging the Captain's authority, however, upon closer examination, such is not the case. The children are traditionally the woman's responsibility and are a matter over which she is supposed to have control.

Cause and Effect of Earthquakes Essay

The ground trembles, shakes and growls. Pictures that were once hanging so beautifully on the wall smash to the ground exploding into glittery slivers of broken glass, roadways break apart, engulfing whatever was in its path, never to be seen again. For many, this would seem to be the makings of a fictional horror movie created by Hollywood with intent to frighten a person and to play with ones senses. For those who live in the areas depicted by film, this is real life, all of the fear and terror of a shaking ground comes to life and people everywhere grab those that are most precious to them and scream â€Å"Earthquake!† According to Lisa Wald (2012), â€Å"an Earthquake is what happens when two blocks of Earth suddenly slip past one another.† Wald also says that the reason the earth shakes when there is an earthquake is â€Å"that the edges of the faults are stuck together, and the rest of the block is moving, the energy that would normally cause the blocks to slide past one another is being stored up. When the force of moving blocks finally overcomes the friction of the jagged edges of the fault and it unsticks, all that stored up energy is released.† Wald goes on further to suggest that this energy is then released into seismic waves, it is these waves that cause the Earth to shake. This shaking, while normal for the Earths development, can be fatal for those who live in it. The damage that is caused by an earthquake can be broken into three specific areas. These areas include the Emotional damage, physical damage and environmental damage. The emotional damage caused by loss is one of the more detrimental areas of concern for humans as they are the ones whose lives are so greatly affected by feeling. People generally tend to have a harder time accepting death if it is spontaneous (Hamilton health sciences, 2000). The grieving process is harder, last longer and is full of disbelief. When natural occurrences such as earthquakes happen, many individuals lose their lives in an instant. Whether it is due to power failure and medical equipment failing, the destruction of homes and buildings and being forced into the street facing other dangers such as wildlife or people with poor intentions, or becoming trapped under rubble from buildings or roadways that have been destroyed. This emotional damage caused makes it far more difficult for the survivors of the earthquakes to move past the tragedy quickly. It may take many hours of grievance counseling for these people to be functional members of society again, to move forward with their lives. Some people develop severe anxiety and fear that an earthquake will hit when they are least expecting it and begin refusing to leave their homes. On the other hand, some individuals feel such a sense of togetherness after loss from an earthquake, they quickly pull together to help other people deal with their losses, searching for those who may still be alive and even assisting with clean up and rebuilding of homes and businesses. They go on to looking for more ways to help their community in the time of need, and really do a great deal to help others get back on their feet. Physical damage is bound to happen to some extent during an earthquake, though architects and engineers are now looking at new ways to make buildings and homes more earthquake resistant for those who live in high quake areas, the cost of such engineering is incredibly costly and not everyone can afford such detail to construction. Many people’s homes, one moment standing proud and tall, end up reduced to rubbles of brick and mortar in a matter of seconds. Cars disappear into what was once a street or roadway never to be seen again. Businesses destroyed, too expensive to repair, force people into lives of poverty. Far too many individuals end up homeless and jobless from natural disasters without their loved ones or their most loved possessions, and have no ability to be able to start from scratch again. Many insurance companies will not cover the damage caused by natural disasters, especially if the property is in an area known to be high in a specific disaster such as earthquakes. If they were to offer this form of protection, it would be at a greater cost to allow a person to rebuild their home or business. In the event of a natural disaster, the consequences could be dire and the insured could be slapped with higher yearly fees and deductibles. A price not many people are prepared to pay with high incidents of poverty in the world. Another of the more detrimental effects of earthquakes is how the environment changes with every quake that occurs. The environment is obviously going to take the largest hit from an earthquake. Localized effects would include forest fires, mudslides, and landslides while greater effects can be felt on the other side of the planet with disasters such as tsunamis. The Asian countries have taken the hardest tolls due to earthquakes, with the largest tragedy being in 2004 when a tsunami that was developed out of a high-scaled earthquake in Sumatra. This tsunami assailed twelve countries, killed over two-hundred and twenty thousand people (Daniel Ten Kate & Berni Moestafa, 2012), and still continues to affect people eight years later. When a tsunami strikes, fatalities are guaranteed. People die by drowning, hypothermia, starvation, and rarely have time to escape their impending death or injury. Beautiful flowers and gardens can be lost forever, sacred tombs, and artifacts washed out to see. Landslides and mudslides may not sound as fatal as a tsunami, however; these occur when the earth shifts and vibrates and causes the land to shift and vibrate with it. Many areas that are high for landslide danger put up protective netting or boarding to prevent the danger of it affecting people in the community, but it is not always possible to contain. They can quickly bury homes and people with no chance of recovery. Fires can be caused by electrical wires being exposed and touching flammable debris, broken gas lines, and power lines and are almost impossible to extinguish with water mains being broken and dust and debris floating through the air feeding and fueling the fires. It is amazing that even a slight shift in the planet can cause such devastation in the world. The shifting of the Earth, while natural, can be fatal to so many objects in its path. Yet it is something that can occur without notice, even with monitoring. The emotional, physical, and environmental damage that can occur is devastating and many people are left homeless, with no income, family, or possessions. Left to fend for themselves in the streets, searching for a way out, attempting to avoid the dangerous wildlife or people they may encounter on their own. Many children cry for their parents, never to see them again. The effects of earthquakes can be greatly reduced if humanity would listen to the scientists or experts on natural disasters. By building more structurally sound buildings and preparing ourselves further for a disaster, we can all benefit from becoming safer during an earthquake. References http://earthquake.usgs.gov/learn/kids/eqscience.php http://www.bloomberg.com/news/2012-04-11/indonesia-hit-by-8-7-magnitude-quake-tsunami-warnings-issued.html http://www.hamiltonhealthsciences.ca/documents/Patient%20Education/SuddenDeathPORTRAIT-th.pdf

An Obsession the World Doesn’t Share Essay

In his essay, â€Å"An Obsession the World Doesn’t Share†, Roger Cohen describes in detail the way other countries view the actions of the United States Government and President Bush (New York Times, 2004). Mr. Cohen’s main idea throughout the article is how the United States government is reacting, or not reacting, to world issues due to the focus on 9/11/01. The author uses countries such as South Africa, and Brazil to make his point that these countries are facing severe problems and the USA, which has always been seen as a â€Å"helping country† is now focused on terrorism. Supporting viewpoints of his main idea are the fact that in Canada, a recent statue of President Bush was erected in the same form as Iraq’s past leader, Sadaam Hussein. In addition, the author notes the AIDS epidemic in South Africa; and the economic factors in Latin America. Mr. Cohen continues his main idea by making the suggestion that any good the USA government has done (i. e. – giving money to support AIDS education), is overshadowed by the fight on terrorism. Mr. Cohen’s point in this article is to inform Americans about how the rest of the world views their country. His central argument seems to be that despite the good our government has done, it is completely overshadowed by our dire need to revenge for 9/11 terrorist attacks. The author uses facts to back up his argument from what seems to be reliable sources, such as the government of these nations, and Ambassadors for these countries. The tone of this article is informative, the author presents his arguments without bias and his personal judgments are few. The author uses a logos appeal, presenting his argument as a logical, reasonable one. Although it does not appear that there are many weaknesses in his argument, some information is excluded, namely that of President Bush’s view, because Bush’s view was not clearly stated, this alone may make the author slightly biased towards the other countries, who are in effect asking for our help. This writer accepts Mr. Cohen’s argument. I believe that all the good the USA may be doing for other countries, IS overshadowed by what seems to be revenge for not only 9/11 but for the Gulf War as well. The fact that our government is intent on punishing Middle Eastern countries, which had little or no involvement in 9/11, speaks volumes about what is important (fighting and not assisting). In this article, the author states, â€Å"The problem is the perception that Bush uses immense power in an egotistical way. (NY Times, 2004) This writer strongly believes this to be the truth as evidenced by the fact that Hussein of Iraq was a main focal point of the terrorism instead of the one who committed the crimes (Bin Laden). As assumed from this article, President Bush is not well-liked by other countries and even Americans are growing tired of Bush’s so-called priorities. In sum, Mr. Cohen has presented an aptly named title of how the world negatively views our government. Unfortunately, most Americans do not differ on this viewpoint.

Cat’s Cradle Essay

As â€Å"Papa† Monzano dies, he tells Jonah that Bokonon â€Å"teaches people lies and lies and lies,† and then asks Jonah to â€Å"kill him and teach the people the truth. † Papa says the truth is science. Shows ridiculousness of jumping from one form of comfort, religion, to another, science, without careful consideration. – Irresponsibility of the scientists: Felix Hoenikker says â€Å"Why should I bother with made-up games when there are so many real ones going on? † He never understands that the games he is playing will have a disastrous effect on the human race. After Felix Hoenikker wins noble peace prize, he says he is â€Å"still playing† -> treats science like a game, doesn’t take it srsly. Religion – Jonah says to Mona â€Å"could I have your religion, if I wanted it? † -> religion is so easy to take up – Newt compares religion to the cat’s cradle. See the cat? See the cradle? † Bokono nism is a religion of â€Å"shameless lies. Monzano attempts to create a utopia, but just like in today’s society, he makes promises to his people, and then fails to fulfill them. But he allows the best for himself and his staff, while his people struggle. – Frank Hoenikker gave his ice-nine to â€Å"Papa† Monzano in return for a position in government -;gt; corrupt, irresponsible, only use 4 personal gain w/out thinking of consequences – Horlick Minton’s speech attacked patriotism as an irrational denial of the senselessness of wartime slaughter. Irony -> The Hundred Martyrs were sent to their pointless deaths in the name of â€Å"democracy† by a dictatorship. Love – Jonah says Mona can â€Å"make me far happier than any woman had so far succeeded in doing. † Yet, we find later that Jonah does not really love her once he knows he can have her and that she will not give up her ways for him. – Angela uses her ice-nine to get herself a beautiful husband who treats her poorly and gives the ice-nine to the American government.

Literature review on Nurse Prescribing Essay Example | Topics and Well Written Essays - 2000 words - 1

Literature review on Nurse Prescribing - Essay Example he basic rationale given as to why the inclusion of nurses was limited to health visitors and district nurses was that they could be identified from the Unitd Kingdom Central Council for Nursing, Midwifery, and Health Visiting (UKCC) registry if they have completed further education from the time of registration (Jones 10). As of 2002, nurse prescribers number to approximately 22000 in the UK, and of this number, 300 are in Scotland (Bates 63). The main goal of nurse prescribing is to give the utmost benefit to the patients. It aims to provide more efficient and faster access to health care. The duties of nurses in relation to prescribing after undergoing training include prescribing pharmacy and general sales list medicines which are prescribed by General Practitioners, and prescribing prescription-only medicines or POMs associated with certain medical conditions. The role of the nurses in making prescribing decisions has responsibility tagged with it along with accountability. The nurses are both professionally and legally accountable wherein they have to be thoroughly knowledgeable on the products or medicines they are prescribing, when these over-the-counter products should be recommended, and when certain products should not be prescribed or recommended. The nurse’s working knowledge should be based on the circumstances of the patients including the current medications, current health status, past health or medical history, ample information and understanding of the products’ dosage, therapeutic action, interaction, and side effects, data on the alternatives to prescribing, and the frequency of use depending on the conditions (Courtenay and Butler 5). While prescribing entails more responsibility, competence and more learning aptitude for the nurses, and exposes them to more possible liabilities and patient complaints, not all medical professionals are open to the perceived benefits of nurse prescribing to the patients, doctors and the nurses

Coca Colas Marketing Strategy Case Study Example | Topics and Well Written Essays - 3500 words

Coca Colas Marketing Strategy - Case Study Example The Coca Cola Company is one of the world’s leaders in soft dink sales. It produces and distributes several brands of beverage internationally. The company also manufactures and distributes many fruit juices and other non soda beverages. It is based in Atlanta, Georgia. Coca-Cola’s soft drinks include its flagship product Coca-Cola, popularly known as Coke, Diet Coke, Tab, Sprite, Fanta, Fresca, the Mello Yello, and Barq’s root beer. The company’s nonsoda beverages include Minute Maid fruit juices, PowerAde sports drinks, and Nestea iced tea drinks. (Microsoft Encarta, 2006)Â  Invented by a pharmacist named John Stith Pemberton in 1886 and was the later bought by Asa Candler in 1889 who incorporated the Coca Cola Company in 1892. Coca Cola currently offers nearly 400 brands in over hundreds of countries and territories all over the world. According to the 2005 Annual Report of the company, it sells beverage product in more than 312 countries. It further s tates that of the more than 90 billion beverage servings of all types consumed worldwide everyday and that approximately 4.5 billion of beverages owned and licensed to the company. Also, according to the 2007 Annual Report, Coca Cola had gallon sales of 37% in the United States, 43% in Mexico, Brazil, Japan and china and 20% spread throughout the world. (Wikipedia, 2008)Â  Like any other companies, Coca Cola has also been involved in a number of controversies, issues and lawsuits.... Throughout the paper, COCA COLA Company is used as the main focus and object of discussion. The company's marketing strategies and techniques will be reviewed and analyzed and will be use as examples and citations. The paper aims to answer questions such as how do Coca Cola's marketing strategies and techniques contribute to its growth and success What is the impact of marketing strategies in an organization on the 21st century and in future years 2.0 Coca Cola's Marketing Strategy: A Case Analysis 2.1 Company Background The Coca Cola Company is one of the world's leaders in soft dink sales. It produces and distributes several brands of beverage internationally. The company also manufactures and distributes many fruit juices and other non soda beverages. It is based in Atlanta, Georgia. Coca-Cola'ssoftdrinks include its flagship product Coca-Cola, popularly known as Coke, Diet Coke, Tab, Sprite, Fanta, Fresca, Mello Yello, and Barq's root beer. The company's nonsoda beverages include Minute Maid fruit juices, PowerAde sports drinks, and Nestea iced tea drinks. (Microsoft Encarta, 2006) Invented by a pharmacist named John Stith Pemberton in 1886 and was later bought by Asa Candler in 1889 who incorporated the Coca Cola Company in 1892. Coca Cola currently offers nearly 400 brands in over hundreds of countries and territories all over the world. According to the 2005 Annual Report of the company, it sells beverage product in more than 312 countries. It further states that of the more than 90 billion beverage servings of all types consumed worldwide everyday and that approximately 4.5 billion of beverages owned and licensed to the

Children's Literature Essay Example | Topics and Well Written Essays - 500 words

Children's Literature - Essay Example The cerebellum and basal ganglia follow, to control movement.† (Begley, 2000). Once the system for movement has been established, the child’s limbic system comes into play that enhances the child’s memory as well as feelings. Finally, the child’s cerebral cortex develops to facilitate the process of thinking. New born babies cry when they hear other babies in their surrounding crying. This is fundamentally because of the sympathetic trait of human nature and the intrinsic urge to help others. A 3 months old baby is smart enough to identify his/her mother in the scrambled picture and a 13 to 15 months old child starts to take decisions on his/her level about who to be with and where to be. (Brant and Wingert, 2005). Despite the already developed brain a baby is born with, he/she requires external influence to mature as a child. Intimate relatives, specially the parents play a special role in shaping the children’s approach towards understanding and reacting to the world around them. How a child is treated in his/her early years of childhood has an impact on how the child will treat others when he/she becomes an adult. What he/she is appreciated for and what he/she is taunted for lays the standards for the child to judge the future matters with. If a child is not nurtured properly in the critical initial childhood years, he/she can not be expected to attain leadership qualities in the future. â€Å"Nature and nurture thus appear to act together seamlessly, in a developmental duet.† (Brazelton and Greenspan, 2000). Researchers from the Baylor College of Medicine have discovered that brain of kids who have not been into games or else have not been touched by their parents much are ge nerally 20% to 30% smaller than their counterparts. (Nash, 1997). One of the biggest challenges in front of parents in the modern age is to decide in what hands to

The extent of gender fatigue transpiring within the workplace, and the Dissertation

The extent of gender fatigue transpiring within the workplace, and the ways it can be overcome - Dissertation Example The only viable explanation for the disparaging gender treatments is gender fatigue. It is concluded that both victims and managers need to ignore gender fatigue and deal with incidents of gender inequality responsibly to void the dangers of gender equality losing ground. Table of Contents Abstract 2 Introduction 4 Research Questions 5 Statement of the Problem 5 Significance of the Study 6 Aims and Objectives of the Study 7 Research Methodology 8 A Review of Literature 8 Gender Inequality in the Work Place 8 Why Gender Inequality Exists in Some Organizations 10 Gender Fatigue as the Driving Force Behind Gender Inequality in the Workplace 12 Results and Analysis 15 Conclusion 18 Bibliography 20 Introduction Gender fatigue is a phrase used to describe stagnation and complacent attitudes toward reforms and calls for gender equality (Dehhehy, 2012). Initial evidence of gender fatigue was present during the 1980s when feminists were portrayed in public discourse as cartoon characters and as bitter women devoid of humour who projected a belief that all men were â€Å"pigs† and all â€Å"women are saints’ and that â€Å"women who stay at home are wasting their lives† (Sadker & Zittleman, 2009, p. 52). Kelan (2009) gives expression to gender fatigue in the workplace describing it as a situation in which organizations are self-described as â€Å"gender neutral†, yet there is evidence of gender discrimination and the prevailing attitude is one in which there is a general feeling that gender discrimination is thing of the past and â€Å"can happen,† but it is up to women to find solutions (p. 197). Kelan (2008) also argues that members of an organization will often describe their respective organizations as â€Å"gender neutral† although it is obvious to all that there is gender discrimination (p. 1). Workers will acknowledge that gender discrimination occurs in the workplace but will brush it off as unimportant to the work that they do. According to Kelan (2008), this is evidence that these workers are â€Å"experiencing gender fatigue† and that they are â€Å"weary of thinking about gender inequality† (p. 1). Kelan (2010) points out that the practice of doing gender at work takes dual approaches in which gender equality is established and juxtaposed against a situation in which gender differences are once again pronounced. For example, a task is usually performed in which gender equality is highlighted and this will be followed by the allocation of â€Å"remedial work, through which gender hierarch is re-established† (Kelan, 2010, p. 176). This research study investigates the problems created by gender fatigue in the work place. In particular, this research study is concerned with the prevailing attitude in organizations that take the position that they are gender neutral, yet gender inequality remains a part of the organizational culture. In these circumstances, described as gender f atigue, this research paper seeks to identify how the problems associated with achieving gender equality as a result of gender fatigue within organizations can be overcome. Research Questions In order to investigate the problem of gender fatigue in organizations and how gender fatigue can be overcome to

Marketing planning for iPhone 4s Case Study Example | Topics and Well Written Essays - 500 words

Marketing planning for iPhone 4s - Case Study Example Basically, the market for iPhone 4s is the busy people and the gadget geeks. No particular age limit is specified for as long as one has knowledge in using smartphones. The lowering of the price set for iPhone 4s means that Apple is targeting the mass market. Since the product is priced lower than the usual, money spent to purchase it will be worth it and with its advanced features, the mass market will be drawn to the product thus leading to a sudden purchasing decision. The fast-paced lifestyle in most nations has driven Apple to create smartphones with its multiple usage that enable people to do multi-tasking using a single technological gadget such as the iPhone 4s. In the application of ethnographic research, the "human behavior is being studied in its natural context" (Lamb, Hair, and McDaniel 276) and is being held as an object of observation for consumer behavior. In reference to this form of research, Apple has made sure that the additions it has made to iPhone 4s are suited to what is needed by people based on their human behavior. Certain economic factors also affect the positioning of the product in the market. Price was set lower than before in order to reach more potential buyers, especially the mass market. It has a dual core A5 chip that makes this new iPhone version power efficient and convenient for everyday use (Apple, Inc.). Extensive research is needed to execute the plans for the promotion and launching of the product. In that case, ethnographic research can be useful since it does not only require a simple observation of individual behavior, but it also takes into account learning from the individuals behavior ("Ethnographic Research"). In the past months, there was a relative decline on sales of Apple smartphones. Because of this circumstance, the company has decided to keep prices in line with the competitors following a status quo pricing strategy. At the moment, the iPhone 4s is considered the most talked

Optimism and Health Benefits Essay Example for Free

Optimism and Health Benefits Essay â€Å"Even the darkest night will end and the sun will rise.† This quote from Victor Hugo is a perfect example of optimism. When someone is optimistic, they have a disposition or tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome. Optimism is simply a mental game. The brain can interpret situations or events as being optimized; meaning that some factors may not be fully comprehendible, yet having confidence that the present moment is in an optimist state. This understanding, although criticized by counter views such as pessimism, realism, and idealism, leads to a state of mind that believes everything is as it should be. With optimism, someone contains hopefulness and confidence about the future or the successful outcome of something. Not only does optimism give someone confidence, it also provides many health benefits and a sense of purpose in life. â€Å"Is your glass half empty, or half full?† This saying is a common idiom that illustrates optimism versus pessimism; an optimist is said to see the glass half full, and a pessimist sees the glass as half empty. Winston Churchill provides another unique understanding of this idea: â€Å"The optimist sees opportunity in every danger; the pessimist sees danger in every opportunity,† The defining characteristic of pessimists is that they tend to believe bad events will last a long time, will undermine everything they do, and are their own fault. The optimists, who are confronted with the same problems of the world, think about misfortune in the opposite way. They tend to believe defeat is just a temporary setback. Provoked by a bad situation, they perceive is as a challenge to try harder. If the thoughts that run through one’s head are mostly negative, their outlook on life is more likely to be pessimistic. There is nothing better in life than having a peace of mind that no matter what the troubles are that life may bring, everything will be okay and that life has so much to offer. Unfortunately this peace of mind does not happen over-night, it takes years of trials and experience s to be able to see the bright side of any given situation. People are not automatically born with optimism; they have to experience negative circumstances in order to find the strength to be optimistic in general. Without hardships, optimism would not grow. Optimism often starts with self-talk. These endless streams of unspoken thoughts can either be positive, or negative. Optimism does not mean that one keeps their head in the sand and ignore life’s less unpleasant situations, it just means that the approach to the unpleasantness is in a more positive and productive way. With this approach to any given situation, stress can be reduced. Often time’s people upset themselves over something minute, causing a lack of sleep, unhealthy eating habits, hostile mood, etc. What they do not know is that with a simple thought of, â€Å"I can do this,† or â€Å"It will be okay,† their whole stream of thoughts eventually start following that positive pattern, changing their whole mood, reducing stress, and increasing their chances of overcoming obstacles. Not only does an optimistic view reduce stress, it also decreases the risks of cardiovascular disease, hypertension, and infections. Optimism itself, not just its association with happiness, lowers anxiety, thus causing less hostility, and has the potential to lower the risk of a stroke. U.S. researchers followed more than 97,000 women for about eight years. Measures of optimism and cynical hostility were strongly associated with these outcomes: Optimists had a lower incidence of heart disease and total mortality. Conversely, cynical hostility, which is a lack of confidence and increased bitterness, was associated with both higher overall mortality and cancer-related effects. Along with positive health benefits, optimism also gives someone a sense of purpose. American psychologist, Salvatore Maddi, co-author of Resilience at Work: How to Succeed No Matter What Life Throws at You, extensively studied what makes executives tough in the face of work-related stress. He found that the healthiest of executives shared three characteristics: a feeling of commitment, a sense of control in their lives, and an acceptance of life’s stressful moments as challenges rather than threats. This research confirms that having a sense of commitment to a purpose does not merely give someone meaning; it makes them more resistant to the impact of stressful living. This view on optimism can increase one’s chances of succeeding their goals or dreams, and not allowing negative situations to hinder their attitude. With hopefulness that their goals will be achieved, their motivation is amplified as well. Optimism is a way of life that is not learned automatically, it takes time and effort to completely change one’s mindset. This mindset has many positive effects. A firm confidence in one’s self develops, and they have self-assurance that no matter what life throws at them, it is completely possible to overcome those obstacles. Optimists tend to believe that defeat is not their fault; circumstances, bad luck, or other people bring it about. Such people are unfazed by defeat. Optimism not only gives one confidence, but also provides a countless number of health benefits. With an optimistic attitude, depression can be reversed. Although it takes time to get out of a slump, just the start of positive self-talk can remove one out of despair. Positive self-talk also reduces stress and the chance of cardiovascular disease, hypertension, and strokes. A sense of purpose also develops with someone who acquires an optimistic mentality. A sense of purpose does not only give someone meaning, it helps them to overcome the stresses that life brings. Optimism merely starts with a simple â€Å"I will be okay.† It takes small steps, but it is completely possible for one to change their outlook on life and not let circumstances defeat one’s life.

Historical Cost Accounting: Criticisms and Alternatives

Historical Cost Accounting: Criticisms and Alternatives Introduction Accounting is a measurement and communication of financial information about economic activities to interested persons.  [1]  The primary role of accounting is to provide an effective measurement and reporting system which is also accounting information system for decision making. The corporate form of a large business has created separation of business ownership and control. Outsiders of an organization, usually, dont possess first-hand knowledge of the day-to-day running and condition of the business, which makes them dependant, to some extent, on accounting reports for information. Management is considered to be a company insider, who has access to the important information about a company that can affect its stock prices or might influence investors decisions. This creates conflict of interest as company insiders are in a position to exploit a professional or official capacity in some way for their personal or corporate benefit. International Accounting Standards Committee (IASC) view that investors need information on risk and return; employees are interested in their stability and profitability; lenders are concerned with loans and interest to be paid when due; suppliers and other traders want to know whether owed amount will be paid or not; and customers are interested in continuance of the enterprise.  [2]  Information is needed by various users to be able to decide when to buy, hold or sell equity of investment; or to access the stewardship or accountability of management. Creditors and suppliers use information to assess security for the amount lent to the enterprise. However, not all users of information have interest or confidence in the information provided by the management. Due to separation of ownership and control; and managements ability of exploiting outsiders for their own benefits, many investors have no interest or confidence in analyzing a companys financial statements. Instead, they rely on market analysis by other specialists about the psychology of the market and its effect on share prices. This report is focused on the historical cost accounting adopted by most of the countries and why, even though has many problems associated with it, have governments accepted this system even with availability of alternative accounting systems. This report details the benefits and criticism of historical cost accounting along with alternatives to historical cost accounting and their criticisms. 2. Historical Cost Accounting The historical cost accounting values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition.  The historical cost accounting is the situation in which accountants record revenue, expenditure and asset acquisition and disposal at historical cost: that is, the actual amounts of money, or moneys worth, received or paid to complete the transaction.   Historical cost is based on actual transaction rather than forecasts. There are supporting records for all the figures provided in the financial statements. It is also relevant in making economic decisions, as past data transactions are needed for making future decisions. Another defense of historical cost is that historical cost has been used throughout history as financial statements which use historical cost are found to be useful. Profit is the excess of selling price over historical cost. Profit is a very well accepted concept of measure of performance. It is the difference between revenue and cost that determines on decision to continue a product line or division. Historical Cost Accounting is very much based on this concept of profit and loss. Others, in defense of Historical Cost Accounting argue that historical cost is less subject to manipulation of data than other forms of accounting such as Current Cost. The use of current cost or exit price opens the door to manipulation of these numbers. In other words, how are current costs to be determined and how can accountants determine which value is true and fair? More importantly accountants must guard the integrity of their data against internal modification. Criticisms of Historical Cost Accounting Overtime, criticisms of historical cost accounting have been raised by number of notable scholars, particularly in relation to its inability to provide useful information in times of rising prices.  [3]  Historical Cost Accounting record all assets at an original cost and continue to use these historic figures throughout the assets life, while time-value of money is completely ignored. Across time these criticisms appear to have been accepted to a certain degree by accounting regulators. In recent years various accounting standards have been released that require the application of fair values when measuring assets. For example AASB 116 gives financial statement preparers a choice between the cost model and the fair value model in measurement of property, plant, and equipment. Financial Instruments (AASB 139), investment properties (AASB 114), and biological assets (AASB141) are required to be valued at fair value as opposed to historical cost. Chambers in 1966 argued that the historical cost accounting information suffers from problems of irrelevance in times of rising prices. It is also questioned whether it is useful to be informed about something that cost a particular amount many years ago whereas its current value might be considerably different. It has been argued that there is a real problem of additivity.  [4]  The matter at issue is whether it is logical to added together assets acquired at different periods when those assets were acquired with amounts of different purchasing power. Alternatives to Historical Cost Accounting Current Cost Accounting Current Cost Accounting (CCA) attempts to provide more realistic book values by valuing assets at current market buying prices. It takes into account time-value of money and inflation. It is more complex than the traditional accounting, and it has created controversy about what adjustments are appropriate. Unlike Historical Cost Accounting, there is no need for inventory cost flow assumptions such as last-in-first-out and weighted average. The business profit in CCA shows how the entity has gained in financial terms the increase in cost of its resources, which is ignored by historical cost accounting. Differentiating operating profit from holding gains and losses has claimed to enhance the usefulness of information being provided by CCA. Holding gains are different from trading income as they are due to market-wide movements which are beyond the control of the management.  [5]  Therefore, CCA doesnt rewards managers for profits from holding gains and losses which isnt an actual profit and also gives useful information to investors. Supporters of CCA are convinced that it provides more useful information than conventional accounting but still they do not agree on all issues. There is one group who believe in the financial capital concept in which the holding gains is included in the profit and the other group is those who believe in the physical capital concept. Under physical capital concept, holding gains and losses are not included in the profit and are supported by the theory of optimal resource usage that uses current costs as a measure of input opportunity cost. Criticisms of Current Cost Accounting Measurement errors may have reduced the usefulness of current-cost and replacement-cost data. Replacement-cost valuations of plant and equipment often include the cost of technological advances and often these advances would reduce operating costs below the level reported by historical cost. As a result, when replacement-cost depreciation is substituted for historical-cost depreciation, the cost of doing business includes the high capital cost of the advanced technology as well as the high operating costs of the older technology in use, which creates measurement errors.  [6]   The supporters of Historical Cost Accounting criticize CCA because it violates the traditional revenue recognition principle by recognizing increases in the value of the assets, both current and non-current, before they are sold. This is irrelevant as changes in market price dont mean anything until the assets are sold. A non-current asset isnt more valuable to a business just because its current cost has increased. Another problem is the subjectivity of determining the amount of the increase in cost. There are some non-current assets that dont have a second-hand market because it was specifically built or made for that business only. So the basis of determining the current cost must be the new asset expected to replace the old one. CCA also involves a mathematical problem of additivity. This is because the figures generated from CCA arent of the same nature because it involves a variety of measurement models. Exit Price Accounting Exit Price Accounting (EPA) also known as Continuously Contemporary Accounting (CoCoA) has been proposed by researchers such as McNeal, Sterling, and especially Raymond Chambers. Its an accounting theory that prescribes that assets should be valued at exit prices and that financial statements should function to inform about an organizations capacity to adapt.  [7]  Chambers described the entitys capacity to adapt as the cash that could be obtained if the entity sold its assets. Chambers believed that economic survival of the entity depends on the amount of cash it can command and the balance sheet is crucial to these decisions. Chambers used the term current cash equivalents to refer to the amount that was expected to be generated through the orderly sale of assets. He believe that the information about current cash equivalent were fundamental to effective decision making. Chambers stated that the accounting rules used were so different in effect that comparison between companies was often quite misleading.  [8]  One of the main arguments for EPA is that it provides useful information to the users. They believe that EPA reports all profits and losses and values as determined in competitive markets and provides a true and fair financial statement that serves the purpose of the shareholders. Other arguments that support EPA is the additivity function. EPA values all elements in the balance sheet and income statement at their exit prices, which, therefore, provides one consistent rule that could be applied by all or any company. It involves references to real-world examples because untestable assertions arent made such as depreciation. Criticism of Exit Price Accounting According to Chambers model of CoCoA, if assets cant be sold separately, they are deemed to have absolutely no value for the purpose of determining organizations financial position. This is considered to be too extreme by many accounting practitioners and researchers. Assets such as goodwill and work-in-progress have no selling value therefore will be have no value at all in the financial statements. Other criticisms of CoCoA are that it doesnt consider the value in use. An asset that is held rather than sold out must be worth more to its owner than its exit price, otherwise, it would be sold. In case of specialized resources such as a blast furnace has positive value in use, but cannot be sold separately, for the purpose of CoCoA has no value.  [9]  Even though proponents of EPA argue for the additivity of exit prices, the concept of current cash equivalent doesnt recognize the possibility of selling assets as one package. Some assets sold as a package are worth more than when sold individually in the market. This concept has been ignored in the exit price accounting. CoCoA has also been criticized on the basis that exit prices are determined by the price that could be achieved in an orderly sale.  [10]  The sales might be at different times and wont necessarily reflect values at balance date. Therefore, the financial statements based on these values might not be useful for monitoring the companys management. Positive Accounting Theory and Efficient Markets Hypothesis Milton Friedman was the one who strongly supported and backed the positive theories in economics. He stated that the ultimate goal of a positive science is the development of a theory or hypothesis that yields valid and meaningful predictions about phenomena not yet observed. Watts and Zimmerman also stated that the objective of positive accounting theory is to explain and predict accounting practice which was consistent with the views of Friedman. The beginning of positive accounting theory is the Efficient Markets Hypothesis (EMH). The EMH is based on the assumption that capital markets react in an efficient and unbiased manner to publicly available information. The main strengths of Positive Accounting Theories over Normative Accounting Theories are the facts that hypothesis are framed in such a way that they are capable of falsification by empirical research. Also, these theories aim to provide an understanding of how the world works rather than stating how the world should work. Moreover, PAT tries to understand the relationship and connection between various accounting information, managers, firms, and markets; and also analyze these relationships within an economic framework. There are several assumptions made in development of positive accounting theory. The first is that the firm is a nexus of contracts. In relation to PAT, because there is a need to be efficient, the firm will want to minimize costs associated with contracts. Contract costs involve accounting variables as contracts can be stipulated in terms of accounting information such as net income, and financial ratios.  [11]  The firm will choose the accounting policies that best acknowledge the need for minimization of contract costs. PAT recognizes that changing circumstances require managers to have flexibility in choosing accounting policies which brings forward the problem of opportunistic behavior. This occurs when the actions of management are to better their own personal interests. The other assumption is that the managers are rational economic decision makers and will act to maximize their own profit and not the profit of the company. Under PAT, firms want to maximize their prospects for survival, so they organize themselves efficiently. Criticisms of Positive Accounting Theories One of the main criticisms of PAT is that it doesnt provide prescription for accounting and therefore doesnt provide any means of improving accounting practice.  [12]  This, therefore results in alienation of practicing accountants. It is argued that simply explain and predicting accounting practice is not enough. There is no guidance on what people should do, as there is a general absence of prescription. The other criticisms of PAT relate to the fundamental that all action is driven by a desire to maximize wealth. Many researchers find this statement very negative in nature. They believe that PAT promotes a morally bankrupt view of the world. The concept of positive theory is drawn from an obsolete philosophy of science and is in any case a misnomer, because the theories of empirical science make no positive statement of what is.  [13]  And also of course, Watts and Zimmerman do say, We do not contend that all issues are settled, but rather encourage others to pursue, correct, and extend our analysis. Conclusion Quite clearly the several limitations and flaws of the traditional historical costs method have been highlighted and picked upon from time to time. Still historical costs are the standard form of accounting due to its unique features and conventions that make it better than most available alternatives. Historical cost accounting has and is still been widely recognized and accepted by corporations across the world. There hasnt been any development of better alternatives to Historical Cost Accounting. The alternative accounting such as current cost accounting and exit price accounting carry more problems in them than historical cost accounting. For examples countries like Unites States and United Kingdom have tried to adopt current cost accounting system but later withdrew as there were many complexities in using current cost accounting. Even if accounting bodies simply pick an existing method to form the standard of accounting, it will definitely not be better than historical cost accounting. However, in my opinion, the current use of historical cost accounting by many firms have been a contributing factor in masking the true and fair value of their assets. As investors are the primary users of financial statements, priority must be given to the needs and wants of the shareholders. Empirical evidences show that investors want both measurements i.e. historical cost and current cost accounting.  [14]  I believe a process should be created where historical cost and current cost operate side-by-side, which will enhance relevance, reliability, and comparability. Rather than debating between different approaches, focus should be given to implement an accounting system which reports all assets and liabilities at their true value without eliminating the benefits of historical cost accounting.