The Criminal Justice System and its Corrections Essay

The criminal justice system is composed of four categories: law enforcement, legal counsel, courts, and corrections. I am going to focus on one of these subjects and the problems or issues that are within the corrections part of criminal justice usually refers to the events that occur after being sentenced in a court of law. During the past few decades many problems have arisen in this area, solutions have been discussed and put into use over the years as well. However, there are still problems that are being dealt with in today’s corrections. One problem that is faced in the corrections system today is overpopulation in the prisons. Prisons all over the United States are becoming overcrowded and that leads to many other problems such as†¦show more content†¦(Stelloh, 2013) Many programs have been initiated to help the problems of overcrowding and negligence. These include education, rehabilitation programs, work-release programs, and other preventative measures. Numerous education programs are offered to inmates. Some prisons even mandate the completion of a GED if the offender never finished high school. Many colleges in the prison’s community partner together with each other to enable higher learning as a possibility for offenders to obtain college credit. These services help inmates succeed in an inmate’s preparation to reintegrate into society with less chances of being arrested again. Offenders that are more prepared to leave prison are not as likely to commit a crime which improves the safety of the public and also saves money from taxpayers. (Office of Vocational Adult Education, 2009) Vocational programs are offered along with educational programs in many prisons. Vocational programs consist of training inmates different trades and teach skills that will benefit the inmate upon their release. Learning how to build something out of wood inside a workshop and learning how to repair a car are both types of vocational programming. Job training and apprenticeships in areas such as carpentry and electrical skills areShow MoreRelatedCorrections and the Criminal Justice System1166 Words   |  5 PagesCorrections describes the punishment of offenders for the crimes they have committed. Corrections does not always mean punishment; in the United States they expect their inmates to read the bible to reflect on their wrongdoings. In the criminal justice system there are three major components: police, courts, and corrections. The police investigate crimes and arrest suspects handing over the evidence and investigative information to the court system. Prosecutors determine wh ether a crime has beenRead MoreCorrections And The Criminal Justice System2445 Words   |  10 PagesCorrections Corrections is a component of the criminal justice system and refers to the array of programs, services, facilities and organizations responsible for managing offenders or those who have been accused of committing a crime. Incarceration and probation are two of the basic ways that punishment is applied. If someone is a repeat offender or commits a more serious crime, they are more likely to be incarcerated, which means they are imprisoned. If someone is a first time offender or commitsRead MoreCorrections in teh Criminal Justice System1076 Words   |  4 PagesWhen most people hear the term, â€Å"corrections† they probably think of prisons, striped uniforms, cellblocks, armed guards, and surly prisoners. Part of American corrections is prisons, but corrections is much more than that. Corrections includes prisons, jails, halfway houses, group homes, probation, parole, intensive supervision, electric monitoring, restitution programs, victim-offender mediation, and even the dea th penalty. Corrections can be defined as all that society does to and with offendersRead MoreThe Criminal Justice System, Corrections And Their Intersection With Race And Gender Essay1883 Words   |  8 PagesThe criminal justice system is a complex system with many layers and a rich history in the United States. Over the years, we have discovered what works and what does not, even today we are still learning and debating what’s right and what’s wrong with in this system. This article will discuss three components of the criminal justice system policing, courts, corrections and their intersection with race and gender. Topics include the death penalty, sentencing disparities, racial profiling, stop andRead MoreCriminal Justice System : Crime, Policing, Courts, And Corrections3651 Words   |  15 PagesThe analysis of a Criminal Justice System should take place in four sections: crime, policing, courts, and corrections. Crime occurs ubiquitously in the world; crime is so common that there is an entire profession made to study why crime occurs, there is also another profession meant to enforce the laws that define what is criminal. South Korea, like most other countries, has a common requirement to enter their criminal justice system: committing a crime is the first step in the process. The mostRead MoreRehabilitation And Corrections : The Most Significant Parts Of The Criminal Justice System Essay2030 Words   |  9 Pages Rehabilitation and corrections is one of the most significant parts of the criminal justice system. It helps people, it is focused around people and getting them back into society. If they have an anger issue, corrections handles it. If there is a drug issue, corrections will handle it. People who have had a criminal history and struggle getting a job, corrections will help you find a job! Twin County recovery services is an outpatient service for greene county that is about rehabilitating and re-enteringRead MoreThe Criminal Justice System Is A Big Part Of Why We Have Order1205 Words   |  5 PagesThe criminal justice system is a big part of why we have order. If there was no criminal justice system and its components that keep it running, the population would run wild. There are three major components of the criminal justice system, the criminal courts, corrections, and law enforcement. These components help uphold the law and protect people from others who do break the law. The world is not perfect, but there have been many examples in real life and in literature and films that show whatRead MoreStudy Guide/Outline Chapter 11435 Words   |  6 PagesPART 1 PUTTING CORRECTIONS IN PERSPECTIVE Chapter 1 The History of Crime and Corrections CHAPTER OBJECTIVES After reading this chapter, students should be able to: 1. Define the term corrections, and know how correctional agencies fulfill their mission of protecting society. 2. Identify how corrections can impact the crime rate by understanding the concept of the correctional funnel. 3. Outline the growth of corrections over the past two decades, and describe why the scope of correctionalRead MoreCriminal Justice System Paper803 Words   |  4 PagesCriminal Justice System Paper CJA/204 Vonnie Cooper March 28, 2011 Ken Salmon The word â€Å"crime† means an illegal action that is prohibited by law or a breakage of certain laws set forth by the criminal justice system. When someoneRead More The Criminal Justice System Essay1476 Words   |  6 PagesThe criminal justice system is composed of three parts – Police, Courts and Corrections – and all three work together to protect an individual’s rights and the rights of society to live without fear of being a victim of crime. According to merriam-webster.com, crime is defined as â€Å"an act that is forbidden or omission of a duty that is commanded by public law and that makes the offender liable to punishment by that law.† When all the three parts work together, it makes the criminal justice system

The Assassination Of The United States - 1487 Words

Almost every person in the United States if asked can remember exactly where they were during a certain tragic event. People often associate themselves and their generation to a certain national tragedy or a group of national tragedies. For example, that part of Generation Y and some from Millennials would naturally consider the biggest and most devastating national tragedy to be the attacks on the World Trade Center buildings, on September 11, 2001. No other event in United States history has ever sparked such a wild debate resulting in countless amounts of conspiracies about September 11. Although, those attacks are by the books a national tragedy it was not the first of its kind. Decades before, a successful assassination attempt on the thirty-fifth president of the United States would shake the nation into the realization that no matter how well liked a person is there are always people trying to push them down. The major debate is whether or not Lee Harvey Oswald was the lone gu nman and if he had outside connections to groups that rivaled Kennedy s administration. The John Kennedy assassination theory that Lee Harvey Oswald was the lone gunman is flawed proven by the evidence found after the incident and outside pressures that made certain groups prime suspects. Many historians have come to believe that with an increase to mass communication, whether that is the invention of the newspaper or the internet news travels faster than its predecessor. For example, receivingShow MoreRelatedThe Assassination Of The United States On September 11853 Words   |  4 Pages The famous events that took place in the United States on September 11, 2001 were a conspiracy. There is no denying this when, by general definition, a conspiracy is â€Å"a secret plan made by two or more people to do something that is harmful or illegal†, (Merriam-Webster Online Dictionary, n.d.). For the purposes of this paper, it is more beneficial to use Sustein and Vermeule’s definition which states that an idea can be considered a conspiracy theory if it is, â€Å"an effort to explain some event orRead MoreAbraham Lincoln s Assassination Of The United States2146 Words   |  9 PagesWhy was he assassinated? What was really supposed to happen that dreadful night? What made the south so mad? How did this affect the future of the United States? All of these questions have answers, the only thing you have to do is look. Let s start by getting to know our late president. Abraham Lincoln, our sixteenth President of the United States, was elected on November 6, 1860. He only received 40% of the popular vote, none of which was from the South. Lincoln became president during theRead MoreAssassinations : Assassinations And Assassinations854 Words   |  4 Pages Assassinations Student Name Institution â€Æ' Assassinations An assassination refers to the action of killing a person secretly or suddenly. The term is often used in regard to the killing of prominent people mainly due strong political differences and ambitions. The killing is usually deliberate and ‘hit men’ are used to accomplish the job. Hit men refer to persons who are employed to kill. Assassinations have not surfaced recently but they have been carried out for a long time in the past. EarlyRead MoreThe Independence Of Puerto Rico1407 Words   |  6 PagesIntroduction The attempted assassination of President Truman was an indication that Puerto Ricans would use any necessary means to gain independence. Puerto Rico has been a territory of the United States for almost a century. The citizens of Puerto Rico have always had different views on whether they want independence or greater autonomy. The following essay will focus on the commonwealth status of Puerto Rico and the attempted assassination of President Truman. The commonwealth status of PuertoRead MoreThe Most Memorable Experience Of The 20th Century1040 Words   |  5 Pagesholding each other. According to Vorbroker, after the shooting most students were confused and frightened that it may be part of a larger attack on United States. Out of the campus many people cried openly and gathered together to watch television and he said that many schools were closed early. I have read in many history books that the assassination of President Kennedy has shocked the nation. However, it was an interesting experience interviewing someone who actually witnessed and lived throughRead MoreKennedy Won The Democratic Convention953 Words   |  4 PagesKennedy knew that Johnson had a lot of connections in Washington that could lead to his win in the 1960 presidential election. For instance, Johnson used his personal connections to help Kennedy win the electoral vote from states that Kennedy could not obtain on his own. The states included Texas Georgia, North Carolina, South Carolina, Alabama, Louisiana, and Arkansas (Evans, P. 42). Johnson in the Oval Office Lyndon Johnson took the oath as vice president on January 20, 1961 (Bornet, P. 1). InRead MoreThe Assassination Of The War And Formation Of Civil Rights1550 Words   |  7 Pages Political Assassination Danielle Ferreira U.S Government Date Introduction Political assassination is defined as the act of killing a political figure mainly for political reasons. In most cases, the motive behind political assassinations is beyond the person who is killed. Assassinations have been rampant across the globe for ages and these assassinations do cause lots of political instabilities in a country especially when key personalities such as heads of states are the victimsRead MoreTerrorism : A Standard Definition Of Terrorism1652 Words   |  7 PagesDefining Terrorism The United Nations does not have a standard definition of terrorism. In 1994, the UN General Assembly condemned terrorism, as â€Å"criminal acts intended or calculated to provoke a state of terror in the general public, a group of persons or particular persons for political purposes are in any circumstance unjustifiable†¦Ã¢â‚¬  Nearly a decade later, UN Security Council Resolution 1566 (2004), defined terrorism as â€Å"criminal acts, including against civilians, committed with the intent toRead MoreDrone Assassination : A New Type Of Warfare1684 Words   |  7 PagesDrone Assassination Warfare is an ever evolving aspect to human nature. Throughout human history, man has always invented new ways to kill one another. With the new current war on terrorism this idea still holds true. With recent advances in robotics, mankind has developed a new type of warfare. This new type of asymmetric warfare is fought against individuals that do not wear a uniform or have a sponsored country. This condition has made for a new type of weapon system to fight this type of warfareRead MoreLincolns Assassination: Foreshadowing the Implementation of the Secret Service, FBI, and CIA1181 Words   |  5 PagesIn modern time, the United States is looked at as a country that has an ability to overcome adversity. However, in the middle of the nineteenth century, the civil war proved to divide the nation. When the nation finally came back together, it was broken again shortly after. On April 15th, 1865 the 16th President of the United States, Abraham Lincoln was assassinated at Ford’s Theatre in Washington D.C. This was the first successful attempt to have a president assassinated while in office. After unsuccessful

Portraits By Warhol Essay Example For Students

Portraits By Warhol Essay Some of the portraits that were done by Warhol began with Troy Donahue and Warren Beatty, and Elvis Presley. Then later on came Marilynn Monroe and Jackie Kennedy. There was also a series of car crash pictures done around this time. The Jackie Kennedy portraits were done very shortly after the assassination of President Kennedy. They mirrored the mourning face of Jackie that was shown time and time again in the media. There were eight different images that were all taken from different newspapers at the time. The number of works in this series is still unknown. (Crone pg 29)The car crash pictures had an extreme amount of variation. They ranged from having one picture to a canvas to having up to twenty on the same canvas at one time. There are many different colored pictures in this set. The most major change from one to another is the background color. It is difficult for critics to place the origination of the meaning of this set of works. (Crone pg 29)The series involving the elect ric chairs has a very serious political statement. It is a symbol of misuse of governmental sovereignty; it has also been considered and open confession of a deficiency in cultural development. (Crone) About the same time as the electric chair pictures were being shown there were many other quite disturbing sets of pictures being shown. They were of race riots and many were taken directly from newspaper articles of the Nazi Germany and Castro’s revolution in Cuba. (Crone pg 29)One of the last serial sets that Warhol created before moving on from painting was of flowers. The flowers were produced in an extreme variety of sizes and quantities. These were on display in 1964. The original flowers were taken from a women magazine. Unlike most of his earlier works, these reproductions were touched up by hand on the screen. These are also different in that they do not represent anything to Warhol. They are strictly decorative. The colors used in the painting aren’t used to sy mbolize anything but just to bring out color in decoration. In all there were about nine hundred of the flower painting made in Warhol’s studio, â€Å"The Factory†. These were among the very last of Warhol’s paintings, in the remainder of his life he concentrated on movie making. (Crone pg 30)During Warhol’s life his work has been controversial. He has become more recognized and famous after his death in 1987. I think that his purpose for being an artist seemed to be different from that of other artists. I’m not convinced he painted and filmed for the love of the art or so much for his purpose in doing it. I think he had a message he wanted to get across and this was the medium through which he chose to express himself. Mythology Essays

Acc Multiple Choice Questions Solutions Essay Example

Acc Multiple Choice Questions Solutions Paper Neither alternative is desirable, as both produce a loss for the firm. Value gained if goods sold the goods as is $45,000 Value gained if goods are cleaned and shipped and then sold = $80,000 $23,000 $57,000 As the value gained if the goods are cleaned is more, so cleaning and shipping should be done. Cost associates is given as $23,000 20, In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors on the shore of Lake Michigan. Parking for the game was expected to cost approximately $22, and Gottfried would probably spend another SIS for a souvenir program and food. It is now December 14_ The Titans were having a miserable season and the temperature was expected to peak at 5 degrees on game day. Mike therefore decided to skip the game and took his wife to the movies, with tickets and dinner costing $50. The sunk cost associated with this decision situation is: A . ASS_ B. $50. D. $107. E. Some Other amount. Sunk cost is the amount of money already invested. But the utility from it is not experienced or realized. As Mike has only invested 570 Which he did not recover as he did not go to the games. He also invested $50 in movies, but then this amount was realized when he saw the movie. So sunk cost is only the cost of tickets purchased. So, sunk cost = $70 21, In early July, Jim Lopez purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors on the shore of Lake Michigan,) parking for the game was expected to cost approximately $22, and Lopez would probably spend another 515 for a souvenir program and food. We will write a custom essay sample on Acc Multiple Choice Questions Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Acc Multiple Choice Questions Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Acc Multiple Choice Questions Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It is now December 14_ The Titans were having a miserable season and the temperature was expected to peak at 5 degrees on game day. Jim is thinking about skipping the game and taking his wife o the movies and dinner, at a cost of $50. The amount of sunk cost that should influence Jims decision to spend some time With his Wife is: A. $0. B. $20. C. So_ D. $70. If there is positive sunk cost, it means that Jim will lose some value of money. So, he will favor towards the games. Fifth sunk cost is 0, Jim will be indifferent towards the games and movie. So, the value is O, to influence Jims decision to spend time with his wife. 25. Susan is contemplating a job offer with an advertising agency where she will make ASS,COO in her first year of employment. Alternatively, Susan can begin to org in her fathers business where she will earn an annual salary of $38,000. If Susan decides to work with her father, the opportunity cost would be: A. SC, B. $38,000. C ASS,coo_ D. $92,000. E. Irrelevant in deciding Which job Offer to accept. Opportunity cost is the value Of money we may lose When we indulge in some other activity. So, here if Susan works for her father, she will lose the opportunity Of working for the advertising agency. Opportunity cost = $54000 29, Two months ago, Victory Corporation purchased 4,500 pounds of Hydro, paying $15,300. The demand for this product has been very strong since the acquisition, with the market price jumping to per pound, (Victory can buy or sell Hydro at this price. ) The company recently received a special-order inquiry, one that would require the use of 4,200 pounds of Hydro Which of the following is (are) relevant in deciding whether to accept the special order? A. The 300-pound remaining inventory of Hydro_ B. The $4. 05 market price. C The 53 40 purchase price. D. 4,500 pounds of Hydro. E. Two or more Of the above factors are relevant. As Victory is undecided among two options, Whether to sell Hydro at $4. 05 per pound or to accept the special order. The factor relevant is the price of Hydro. If the price gives more profit than accepting the Offer, Victory Will sell hydro instead of accepting the order. 31. Mueller has been approached about providing a new service to its clients. The company will bill clients $140 per hour: the related hourly variable and fixed operating costs will be ASS and SIB, respectively, If all employees are currently working at full capacity on other client matters, the per-hour opportunity cost to being unable to provide this new service is: A. SO. B. $47. D. $93. E _ S 140. Per hour opportunity cost of not being able to provide this service = 5140 -575 $65 The fixed operating cost is not subtracted because that amount is already invested and thus Will be counted towards sunk cost. Note: Axed component Of cost is always invested at the Start Of project. o, it is same whether you provide service or not. Variable cost occur if you provide service. 32. Snyder, Inc. , Which has excess capacity, received a special order for 4,000 units at a price of ASS per unit. Currently, production and sales are anticipated to be 10,000 units without considering the special order. Budget information for the current year follows. Cost of goods sold incl udes $30,000 affixed manufacturing cost, If the special order is accepted, the companys income will: A. Increase by $2,000. G. Decrease by $2,000. C. Increase by $14,000. D. Decrease by $14,000. E. Change by some other molten. Variable cost Cost of Goods Fixed cost $145,000 530,000 IS 15,000 Variable cost per unit = Variable cost/ sales = $1 15,000/ 10,000 = $11. 5 As fixed cost is already incurred, To calculate increase in revenue by new order, only variable cost is considered. Revenue per new item = $15-$11. 5=$3. 5 So, Revenue per new item of units of new order = Increase in revenue 53. 94000 $14,000 33. Surround Sound, Inc. Reported the following results from the sale of 24,000 nits of IT-54: Rhythm Company has offered to purchase 3,000 IT-545 at $16 each, Sound has available capacity, and the president is in favor of accepting the order. She feels it would be profitable because no variable selling costs will be incurred. The plant manager is opposed because the full cost of production is $17. Which of the following correctly notes the change in income if the special order is accepted? A. $3,000 decrease. B. SO,COO increase. C. $12,000 decrease. D. $12,000 increase. E. None of these. Variable cost per item for new order = 288,000/24000 = $12 Revenue per new item = $16-$12 = $4 So, increase in revenue = $4*3000 = $12,000 34 Computations, a manufacturer of computer peripherals, has excess capacity. The companys Utah plant has the following per-unit cost structure for item no. The traceable fixed administrative cost was incurred at the Lath plant; in contrast, the allocated administrative cost represents a fair share of Computations corporate overhead. Utah has been presented With a special order of 5,000 units of item no. 89 on which no selling cost will be incurred. The proper relevant cost in deciding whether to accept this special order would be: A. ASS. 8. $59. C. Sal. D. $80. E. Some other amount. In deciding whether to accept the offer, only variable cost is amounted. As allocated administrative is part of corporate overhead, it is also fixed. Selling cost is not incurred in new order. So, cost to be considered is the Variable manufacturing cost , which is $40 35. Gorges Corporation manufactures parts that are used in the production of washers and dryers. The following costs are associated faith part no. 65: The company received a special-order inquiry from an appliance manufacturer in Spain for 15,000 units of part no. 65. Only $3 of fixed manufacturing will be uncured on the order, and the variable selling costs per unit Will amount to only $5. Since Gorges has excess capacity, the minimum price that Gorges should charge the Spanish manufacturer is: A. 596. B. 99. C. $105. D. BIBB. Direct material and Direct labor is a type variable cost in manufacturing industry. So, total variable cost $50 + $19 + $22 * $3 + $5 $99 Here, fixed manufacturing of $3 is considered, because it is only for that order and is dependent on number of units of goods manufactured, 37, Torero Pines is studying whether to outsource its Human Resources (H/ R) activities. Salaried professionals who earn $390,000 would be terminated; in contrast, administrative assistants who earn $120,000 valued be transferred elsewhere in the organization. Miscellaneous departmental overhead (e. G. , supplies, copy charges, overnight delivery) is expected to decrease by 530,000, and ASS,OHO of corporate overhead, previously allocated to Human Resources, would be picked up by Other departments. If Torero Pines can secure needed HIRE services locally for $410,000, how much would the company benefit by outsourcing? A. 510,000. B. 95,000. C. $130,000. D. $155,000. E. Nothing, as it would be cheaper to keep the department open. Benefit to the company $390,000 * $30,000 $410,000 $20,000 The values of $120,000 and ASS,OHO is ignored because, these are allocated elsewhere in the organization and not really saved. 38. Song, a division of Carolina Enterprises, currently makes 100,000 units of a product that has created a number of manufacturing problems. Songs costs follow. If Song were to discontinue production, fixed manufacturing costs would be reduced by 70%. The relevant cost of deciding whether the division should purchase the product from an outside supplier is: A. $540,000. B. 594,000. C. SASS,oho. D. $720,000. E. 926,000. Cost saving by purchasing = 40000 40. 7*180000 = SASS,oho 39, Maddox, a division of Stanley Enterprises, currently performs computer services for various departments of the firm. One to the services has created a number of operating problems, and management is exploring whether to outsource the service to a consultant. Trac eable variable and fixed operating costs total 580,000 and 525,000, respectively, in addition to $18,000 of corporate administrative overhead allocated from Stanley. If Maddox were to use the outside consultant, fixed operating costs would be reduced by 70%. The irrelevant costs in Maddox outsourcing decision total: A. $17,500. B. ASS,COO_ c. $25,000. D. $25,500. Irrelevant cost = administrative cost + fixed cost 525,500 = 18000 +0. 3*25000 = 44. The Shoe Department at the El Paso Department Store is being considered for closure. The following information relates to shoe activity: It 70% of the fixed operating costs are avoidable, should the Shoe Department be closed? A, Yes, El Paso would he better off by $23,000. B. Yes, El Paso would be better off by $50,000. C. No, El Paso would be worse off by ASS,COO. D. No, El Paso would be worse off by $40,000. After avoiding of fixed cost Total cost = 280,000 30, COO $373,000 sales revenue = $350,000 o, if they sell, they are better Off by $373,000 $350,000 -? 523,000 45. Summers Corporation is composed of five divisions. Each division is allocated a share of Summers overhead to make divisional managers aware of the cost of running the corporate headquarters, The following information relates to the Metro Division: Fifth Metro Division is closed, 100% of the traceable fixed operating costs can be eliminated, What will be the impact on Summers overall profitability if the Metro Division is closed? A. Decrease by $200,000. B. Decrease by SO,COO. C. Decrease by D. Decrease by Current profit 300,000 report overhead will be utilized somewhere else. Impact on profitability = 200,000 + 300,000 = $500,000 200,000 As allocated 46. Ortega Interiors provides design services to residential and commercial clients. The residential services produce a contribution margin of $450,000 and have traceable fixed operating costs Of $480,000. Management is studying whether to drop the residential operation.

THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay Example

THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS] THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET By ssoekarno THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET: EVIDENCE FROM MALAYSIA PUBLIC LISTED COMPANIES EVI OKTAVIANI SORAYA A project report submitted in partial fulfillment of the requirements for the award of the degree of Master of Business Administration International Business School UniversitiTeknologi Malaysia JANUARY 2014 I declare that this thesis entitled The Effect of Convergence with International Financial Reporting Standard [IFRS]-Based Accounting Standards On Stock Market: Evidence From Malaysia Public Listed Companies is the result of my own research except as cited in the references. The thesis has not been accepted for any degree and is not concurrently submitted in candidature of any other degree. Signature: Name Date :JANUARY 2014 Dedicated to ACKNOWLEDGEMENT BSTRAK laDle 0T content CHAPTER 1 INTRODUCTION 1 Background 0T study 1. 1 Background of International Financial Reporting Standard [IFRS] Financial statements are important for investor in assisting them in making decision on where to invest globally. This is why high-quality accounting standards enables investors to receive appropriate information which in turn will give investor confidence in making decision . There is a drive to globalize accounting standards and practices that will be accepted by the regulators, certification bodies, the accounting profession and the business and academic communities around the world in order to minimize the potential dangers of bias, misinterpretation, inexactness, and ambiguity. Over the years the business community has recognized accounting as the language of business and financial information as a form of language. Since accounting has been accepted as a language, it is advisable that companies around the world to speak in the same language. Recent political and economic events have focused on the pressing need for more uniformity in international accounting standards . There is a requirement for a universal set of accounting standards which can unite the language of accounting around the world and solve the problem of differences in accounting practice. It is no surprise that the globalisation of capital markets has been accompanied by calls for globalisation of financial reporting. Indeed, the globalisation of the worlds capital markets has created the need for comparable and reliable financial information to support the varied transactions and operations of the markets Hora et al.. The accounting profession has faced the pressure of globalisation and continues to look for ways to produce financial situation using a unique accounting procedures that can be understood by all business society in the last few decades . Not only that, to ensure usability, financial information also supposed to be understandable and comparable to make credit decisions and investment more easily retrieved. Though the process of internationalisation might be difficult, Anderson said that a set of international accounting standards will allow new horizons of financial statement evolution by the fact that the comparative analysis of the rate of return and profit/loss set written in balance sheet has made the competition between companies become more pertinent. In order to solve this problem, a novel global accounting standard International Financial Reporting Standard (IFRS) has been introduced. Currently IFRS has been increasingly adopted by accounting policy makers all over the world. It is estimated ver one hundred countries are using International Financial Reporting Standards. For example, Australia and all members states of the European Union which have adopted IFRS since 2005, whereas Canada, India and Korea has moved into IFRS convergence in 2011 . I ne aaoptlon 0T Internatlonal Accounting stanaaras/lnternatlonal Hnanclal Reporting Standards (IAS/IFRS) by a significant number of developing countries in the past years is considered as one of the biggest events witnessed in the international accounting field. For most of these countries, the application of IAS / IFRS accounting is the transition to a new paradigm. This paradigm, mainly based on the communication of good quality and useful financial information for decision-making , consider the investor involved in the stock market as a specific user of financial statements . The objective of this financial report primarily to offer investors the necessary information for them in order to properly evaluate the economic situation of the company which in turn allowed them to put their money in profitable investment opportunities. Countries which have already adopted the IFRS accounting standard foresee various benefits, for example Australian government hopes that the setting of IFRS ccounting standards in Australia can lead to production of higher quality accounting standards which in turn will facilitate Australian business in terms of lower costs of capital and enables Australian companies to compete on an equal footing overseas, while also maintaining investor confidence. In the meantime the Chairman of the Korea Accounting Standards Board and President of the Korea Accounting Institute stated that his organisation is optimistic about the benefits of IFRS adoption in that it will not only make Korean companies more competitive through their enhanced ransparency but also will allow the South Korean accounting industry to expand worldwide. From those two statements, we can conclude that one common benefit sought by adopting IFRS is to eliminate barriers to cross-border investing . Moreover, Ball argued that IFRS promises more accurate, comprehensive and timely financial statement information compared to the national standards which it replaces for the public financial reporting in most of the countries which adopted it, including Continental Europe. Better quality financial statement information can even lead to etter assessment by investors in making capital market decisions and thus reduce the risk to these investors. Another attribute of IFRS is that it requires more extensive disclosure. For example, asset impairment FRSI 36 requires disclosure of goodwill and other intangibles, particularly in relation to the allocation of goodwill to cash generating units, the main assumptions used to measure recoverable amount and impairment testing. Increased level of disclosure in the financial statements may affect the quality of reported earnings. According to disclosure system which set at high quality standard ives investor confidence in the credibility of financial reporting. If more disclosure is required, any attempt to manage earnings can be more easily detected and addressed by the internal oversight bodies (board of directors and auditors) in a company. The use of international accounting standards in promoting various players in the capltal market can De a good cnolce Tor developing countrles tnat seek to promote decent functioning of their capital markets. To satisfactorily fulfill their role in the evaluation and financing of companies and in the development of various sectors of conomic activity, listed companies have to communicate good financial information . Since worldwide adoption of IFRS would create a common language for accounting, new capital markets would open to companies who have been reporting only in accordance with their national standards. Communication of financial information helps to limit the problems associated with information asymmetry and establishes a climate of confidence in the capital market mechanism. This in turn acts to encourage different actors to make more transactions. IFRS would allow the financial statements to be in a simple, nderstandable, and standardized format for investors and other businesses who are interested in the firm. A research which conducted by Centre for Audit Quality on July in the United States shows that sixty-two per cent of investors agree that the creation of a single, uniform, international set of accounting standards would give them a higher level of confidence . In general, convergence to IFRS provides many benefits such as enhancing comparability as a company financial report can easily compared to another, increasing global investment flow through transparency, decreasing cost of capital hrough global investment opportunity, rising financial reporting efficiency and enhancing financial reporting quality by lowering the chance to do earning management practice. However, despite the optimistic expectations put on IFRS convergence, the reality seems more unclear. Previous research which have studied the relationship between IFRS adoption and market behavior has seen a variety of results, for instant Horton and Serafeim which investigate market reaction to IFRS and valuation of IFRS reconciliation adjustment, their study resulting a negative abnormal return for firms eporting negative earnings reconciliation, mandatory IFRS adoption alters investors beliefs about stock prices, proving that the new IFRS numbers give new information to the market. Meanwhile Armstrong et al. finds that equity investors perceived the expected benefits of more comparable financial reports and the prospects of increased capital flows outweighed the expected costs of implementation and any economic distortions arising from reduced local accounting diversity. Furthermore study result shows that annual report publication does not produce unexpected nformation either before, on, or after the adoption of IFRS, however she found an interesting fact that IFRS adopters are valued higher before the adoption, but not afterwards. . 2 International Financial Reporting Standard in Malaysia Malaysia cannot let itself to be left behind in this worldwide movement towards aaoptlon 0T tne S Malaysian companles nave to De In step wit n tnese developments in financial reporting practices adopted around the world in order to make their financial statements accepted globally. Malaysian Accounting Standards Board chairman foresee to that by becoming fully IFRS compliant, Malaysias capital nd financial market will be further enhanced. In a statement, Azmi explained another benefit of adopting IFRS in Malaysia which are not only it is accepted globally as it already used in more than 100 countries, but using a common language also will turn reporting costs decrement since there is no need to reconcile accounts, can increase credibility of local market to foreign investors, have comparability across boundaries and cross border listing. Full convergence to international accounting standards will put Malaysia in good stead for increased globalization of capital markets, providing comparable financial tatements to promote investor confidence. The milestone of IFRS convergence in Malaysia began in the period between 1978 and 1997 where Malaysia started to adopt International Accounting Standards (AS). However, those standards which were set by the Malaysian Association of Certified Public Accountant (MACPA) together with the Malaysian Institute of Accountants (MIA) were not enforceable on companies at that time. Following the passage of the Financial Reporting Act 1997 by Malaysias parliament on March 1997 prior to Asian financial crisis, the Malaysian Accounting Standard Board (MASB) was established with a given mandated to developed financial reporting standards, develop Islamic accounting standard and conduct an extensive consultative process. Before 2005 all accounting standards issued by MASB had the prefix MASS. Subsequently in 2005, concurrent with global standard setting development, the MASB renamed all issued standards as Financial Reporting Standards (FRS) that was meant to be in line with standards issued by IASB except for some minor modifications. In 2006, Malaysia introduced 2-tier financial reporting framework, started on 2007 Malaysian FRS standards (known as FRS framework) have been dentical to IFRS AS. The difference lies in the standards that Malaysia has not adopted. The FRS framework is made mandatory for non-private entities while the private entities can continue using the old MASB standards known as PERS (private entity reporting standards) framework. Further, a new numbering system to its FRS and the interpretations was introduced by the MASB in 2007. MASB together with Financial Reporting Foundation (FRF), make up the new framework for financial reporting in Malaysia. On 1 August 2008, they announced their plan to move to full IFRS convergence by 1 January 2012. To facilitate a phased changeover to IFRS convergence, Malaysia has adopted FRS 139 Financial Instruments: Recognition and Measurement with the effective date of 1 January 2010. By 2012, all approved accounting standards applicable to entities other than private entities will converge fully with all IFRS issued by the International Accounting stanaara In November 2011 , the MASB issued a new MASB approved accounting framework, namely the Malaysian Financial Reporting Standards (MFRS Framework). As defined by MASB, the companies that are required to apply MFRS framework are Entities Other Than Private Entities shall apply the MFRS framework for annual periods beginning on or after 1 January 2012, with the exception of entities (known as transitioning entities) which are given options to continue with the old FRS framework that has not adopted IAS 41 Agriculture and/or IC Interpretation 15 Agreements for the Construction of Real Estate. Next, MASB plans that the full adoption of the MFRS Framework will be mandatory to all companies for annual periods beginning on or after 1 January 2012. Because of this, approximately one thousand Malaysian public listed companies will be affected y the IFRS convergence in 2012, however the companies or the group of companies that are involved in agriculture or real estate industry still have time to defer its convergence. In addition, the International Accounting Standard Boards (IASB) future work plans on some other core standards will also affect Malaysian entities significantly after 2012. There are a few IASB exposure drafts and discussion papers that are now going through due process and soon to be adopted including leases, revenue recognition, financial instruments, fair value measurement, insurance contracts, and consolidated inancial statements. As a consequence of this convergence, when IASB issues a new or amended IFRS, Malaysia will adopt those standards in their entirety. 1. 3 Problem Statement Principles-based standard accounting may reduce the likelihood of scandals, as shown on study by Nisbettt and Sheikh . One example of a world phenomenon that has occurred related to financial statements matter is Enron scandal. Enron which was founded in 1985 is one of the worlds leading electricity, natural gas, communications and pulp and paper companies before it bankrupted in late 2001, its nnual revenues rose from about $9 billion in 1995 to over $100 billion in 2000. At the end of 2001 it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud. This scandal shows weakness of GAAP system as compared to principles- based standard such as FRS. The benefit of IFRS upon businesses that have adopted it is still debated. Previous studies have shown that the financial reporting process is influenced Jointly by the accounting standards and economic incentives of market participants . That said it follows that if companies can be shown the positive effect of adopting IFRS, they will be more willing to do so. I nls would Imply tnat companles mlgnt accept tne convergence witn IHRS positively IT, for example, they expect IFRS to impact favorably on company performance, and reduce information asymmetry and the cost of capital Hope et al.. In contrast, companies might expect the costs to surpass the benefits of IFRS adoption, or that IFRS implementation is followed by managerial opportunism to reduce the regulatory compliance costs or variation in the application of IFRS . Studies on the impact of adopting IFRS on market behaviour is still relatively new and unexplored, particularly in Malaysia. Most researches have only investigates its effect into financial statement and ratio such as Stent et al. or into accounting quality . Many have focused solely on the technical accounting impacts related to IFRS. Understanding the broader impacts that IFRS may have is also important. Knowing such effects of IAS/IFRS convergence on stock market behavior is of major importance for several different parties including primarily, the national accounting standardization body, the IASB, nternational investors, as well as for the companies themselves. Although previous studies have provided evidence on the benefits of IFRS to quality of financial statement, such as Paglietti and Wang et al. there is a possibility that IFRS might not have a positive impact on company performance at all, in which case companies would not be too enthusiastic in adopting IFRS (outside of for compliance reasons). Based on the above discussion, this study will investigate whether adoption of IFRS is acknowledged by investment community and influences the investment decision making. The research result expected will give insight to firm and Jurisd iction whether to move into a single standard on financial reporting or not. This can be useful information for other emerging markets that are still not fully adopting this new standard such as Indonesia and Thailand. 1. 4 Research Question Signalling theory explains that signalling is done by management in order to reduce information asymmetry. A signal is an action taken by the more informed that provides credible information to the less informed. The theory assumes that managers of high-quality firms will have an intention to signal their superiority to the arket as described by Copeland et al.. One such example of signalling is accounting conservatism in which firms provide financial statements information to show that they applying conservative accounting policies which resulting a higher quality of earnings because its principle is to prevents companies to exaggerate profits and helps financial statements reader by providing under representing income and assets. This accounting conservatism is traditionally defined by the adage anticipate no profit, but anticipate all losses . Understatement of profits and net assets stated in financial statements is a positive

8 Red Flags Employers See on Your Resume

8 Red Flags Employers See on Your Resume Do you send out lots of resumes and never hear back? Recruiters watch for certain items on a resume and, if you have any of those on yours, that might be the reason. Considering recruiters tend to spend under five minutes to look a resume over, according to the Society for Human Resource Management, what an individual puts on a resume is important. A few resume tips on what to do when applying for a job may help.   1. Your  Resume is Obviously RecycledIf you’re one of those individuals who sends out the same resume for every job application, you shouldn’t be surprised if you don’t hear anything back. Read the posting carefully and write your resume and cover letter toward that particular job. Include your relevant experience and how you would be an asset to the company. Otherwise, your application may be destined for the bottom of the pile. Recruiters say that it is surprising how many job applications have no relevance to the job.  2.  Your Resume is Too FlashyUnless you are applying for a job as an artist or graphic designer, over-embellishing your resume may backfire on you. Employers are looking for workers who are qualified for the job, and recruiters aren’t going to spend much time trying to figure out when and where you worked when they have to wade through decorative fonts, colors and other unnecessary decorations.  3.  Your Email Address is Not ProfessionalWhile the email address you use may on a regular basis might be something you consider cute or original, such as partythenight@email.com, the recruiter might not find it amusing. If an applicant has this type of email address, it is a better idea to create a new email with an address that won’t be perceived as frivolous or suggestive.  4.  You Have Spelling and Grammatical ErrorsPoor spelling and grammar are noticed by recruiters and can make a recruiter discount your application. This also counts for social media postings. Take a moment before sendi ng off your cover letter and resume to spell check, and make sure that everything is correct. Do the same for your social media posts.  5.  You Omit DatesWhile it may be easier for an individual to leave out dates it may seem suspicious to recruiters. This could mean there are gaps in employment history or that an individual changed jobs frequently. If you have a long history and great credentials, it may be less important.  6. Your Information is OutdatedWhen an individual does not update a resume when it is necessary, all the information may not be correct. While he or she might add a new job to the list, forgetting to check the current phone number and address is sometimes overlooked. Recruiters say it isn’t unusual to send an email to an applicant and have it returned or call and find out the phone number is different.  7. You’ve Changed Jobs FrequentlyThose who show frequent job changes are not likely to be looked upon favorably by recruiters. While worker s do change jobs more often than in the past, too frequent a change may be a red flag for recruiters. If an individual stays on a job less than two years, it might make that worker more likely to be overlooked for another individual with longer time at one job.  8. You Don’t Use Bullet Points on Your  ResumeRecruiters like resumes that get right to the point, and the use of bullet points makes that easier to do. Sometimes, a lack of bullet points is accompanied by a resume that is far too long. Try to keep a resume under two pages, and use bullet points to focus on what you did to be an asset at your earlier jobs. Be specific.  Looking for a new job can be easier if an individual is careful to ensure that a resume is prepared well. Searching for a job can also be easier by using a job search site to do exactly that. Sign up for our job match alert, and TheJobNetwork lets you list your qualifications and job interests and then does a 24-hour search for jobs matching that description.

The motivations of Chinese EFLs Term Paper Example | Topics and Well Written Essays - 3750 words

The motivations of Chinese EFLs - Term Paper Example People who are fluent in English are given almost celebrity-like honor and value in countries where English is not the official language. The wide ranged usage of English throughout the world be it, mass media, education, Internet, business, tourism, technology and such other fields is what gives the language an authoritative appeal and command over the whole world. Acknowledging the importance of the English language, the government of every country needs to be capable of providing facilities for the children to learn this language. Thus, this is the reason why English is being taught in almost all countries. Therefore, it is the responsibility of the parents to get their children enrolled into schools that teach English. It also becomes the responsibility of these children to learn well and excel in their academics to make their parents feel proud and in turn, serve their nation by staying committed to their jobs, which obviously, would require English as the main language. Therefo re, for students to learn languages, other than their mother tongue, they need motivation. The paper at hand focuses on Chinese EFL students. These refer to the students who come from China and settle in America or other such countries where the official language is English, and study English as a foreign language. It also includes EFL students who reside in China itself. Studies show that China accounts for the â€Å"largest number of English language learners in the world† (Influence of Instrumental Motivation on EFL Learners in China and its Implication On TEFL Instructional Design 1). According to JUDY F. CHEN in his article called, Motivators That Do Not Motivate: the Case of Chinese EFL Learners and the Influence of Culture on Motivation, the Language learning theory has widely accepted the saying that language learners with superior levels of motivation will be superior achievers. Finding what composes motivation for those who learn the language in a variety of cultura l settings remains a significant and difficult task. Motivation study frequently centers on cultural circumstances that are not very different from European values and North American. Language learning motivation study outcomes have tended to support the supreme importance of integrative motivation, which was primarily described by Gardner and Lambert (1972) and the newer version by Shaaban and Ghaith. Integrative motivation is successful because language abilities are perceived as essential to participation in various social groups that employ the target language. Noels, Clement, Pelletier, and Vallerand (2000) make out the preeminent significance formerly granted to the orientation of integrative motivation, but also state that this can be the case only in particular socio-cultural circumstances. Integrative motivation is frequently contrasted by way of the more outwardly affected instrumental motivation (JUDY F. CHEN 2005). The students face a lot of problems in their everyday li fe in the educational institutions they attend. This is due to the fact that English is totally foreign to them until they go abroad. Thus, there arises a great need for these students to be motivated. This paper therefore addresses various problems that the Chinese EFL students face in learning English, the

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

Insurance - Essay Example A certain level of risk is assumed to be accepted given the risk appetite of the management relating to a particular risk. Risk limitation is considered as the blend of risk acceptance and avoidance such that the company designs its portfolio of risk components and considers as to which risk component needs to be accepted or avoided. Risk transfer is the most common risk management technique such that the risk component is transferred to third party. The most common example is insurance in which the risk is transferred to insurance company against the premiums that the insurance company charges from the business. For different home styles, the most appropriate policy is the special policy called as HO-3. This policy insures all main perils except earthquake, flood, nuclear accident and war. Through insurance coverage, one gets deep coverage up to 100% of the replacement cost of home. The home content that insurer generally covers is between 50 to 75% of the property’s value. As far as the tax implications are concerned on obtaining an insurance policy of any type, it is important to note that any loan obtained to purchase the insurance policy is not regarded as taxable income. However, in case of lapse of policy or the surrender of the policy in favor of the insurer, the amount of loan becomes taxable and it will entitle the policyholder to pay tax on the loan amount. Similarly, if the interest paid on that loan is from out of pocket, it will not be tax deductible and thus result in higher tax consequences. As far as the personal finance plan is concerned, in short-term, insurance on automobile, cellular phone etc. will be needed as these things are frequently replaced with the newer models or versions etc. For medium-terms based needs, insurance policies such as health/disability or home policies will be preferred. For long-terms insurance needs, life insurance policies will be included in the financial plan. Savings and

Home Depot and Lowes Essay Example for Free

Home Depot and Lowes Essay Case Summary Value Line Publishing analyst, Carrie Galeotafiore had followed the retail building-supply industry for approximately three years. Within a week the investment-survey firm will be publishing Galeotafiore’s quarterly findings on the industry along with the five-year financial forecast for the industry’s leaders, Home Depot and Lowe’s. In an effort to increase their top and bottom-lines, Home Depot and Lowe’s have implemented strategies like improving customer service, attracting professional customers, and introducing a more favorable merchandise mix. Combined sales from the two companies accounted for more than a third of the industry’s sales. In the mean time, smaller hardware stores struggled to remain in the game. Galeotafiore reports shows confidence in the methods Home Depot deployed to achieve their goals and attributed Lowe’s margin expansion to their thrust into the major metropolitan markets. This case will mainly focus on the strategic issues involved with Home Depot and Lowe’s, the industry trends, the financial outlook for the respective companies, and whether or not Galeotafiore has the depth of knowledge and experience to make a correct call on the companies’ performance.Finally, the report will be substantiated with financial ratios comparing one company with the other, showing possible alternatives and proposing recommendations. Case Analysis This segment will narrow down the major issues of the case, along with the quantitative perspective showing historical trends and the projected level of economic activity. In 2001, the Economist Intelligenc Unit (EIU) estimated the retail building-supply industry to be approximately $175 billion with stores similar to Home Depot and Lowe’s capturing one third of the 51% of sales in their category. Despite the slump in the economy in 2001, growth was at 4.2% which representd a decline from 7.7% in 1998. Strategic issues for Home Depot and Lowe’s Home Depot’s CEO, Bob Nardelli’s goal was to increase their margin through declining cost in product review, opening more tool-rental centers and improving purchasing aspects. All of the above were an effort to remain  competitive. Galeotafiore stated in her report that stores which provide programs similar to the Service Performance Improvement offered by Home Depot tend to fear better in operating margins, inventory turnover and productivity, than the do-it-yourself establishments. Jefferies’ analyst Donald Trott downgraded Lowe’s, due to a declining housing-market bubble and, based on an opinion that their stock price was richly valued compared to Home Depot’s. However, on the brighter side, Lowe’s management told analysts that over the next two years, it expected to maintain sales growth between 18% and 19% and over the next three years from 2002 to 2004 it is expected to open 123, 130 and 140 stores respectively entering metropolitan m arkets with populations over 500,000 like the Boston and New York markets.

Peregrine Systems Fraud Essay example -- Business Case Studies Account

Peregrine System's Accounting Fraud Wall Street's demand for high growth motivated Peregrine Systems' executives, to fraudulently inflate revenues and stock prices. According to the SEC, "Peregrine filed materially incorrect financial statements with the commission for 11 consecutive quarters." Steven Spitzer, a member of Peregrine's sales team admitted to meeting regularly with senior management near the end of the quarter to determine how much revenue was needed to exceed Wall Street's expectations. The primary fraud committed by Peregrine was done by inflating revenue by booking revenue when sales never occurred. By recognizing revenue from sales that never occurred, the accounts receivable balance and net income were fraudulently overstated; the accounts receivable would never be collected, because the merchandise was never sold. To cover up their high, outstanding, accounts receivable balance as a result of booking sales that did not occur, Peregrine fraudulently engaged in financial agreements with banks. Evidently, Peregrine Systems increased its revenues by pressuring distributors and resellers to build up their inventories (known as "parking" their inventory). Through secret side or oral agreements Peregrine distributors and resellers were not obligated to pay Peregrine for their software inventories. This conduct obviously became a problem. If they could not sell Peregrine's software, they would receive their money back. According to GAAP, revenue recognition on the sale of software requires evidence that an arrangement must exist, delivery must have occurred, vendor's fees must be fixed or determinable, and collectibility must be probable before recognizing revenue. Peregrine falsely recorded this tra... ... tempted to falsely inflate earnings is to take away their personal gains, if the company's stocks go up. I believe that when upper level management has too much incentive based on personal financial gain, which is directly based on the performance of the company; it compromises their judgments. I think that upper level management should not be allowed to receive stock options or to even own stock in the company as the financial statements would provide a neutral, bias-free report. Management would have no reason to "cook the books." I also feel that any management who still decides to falsify documents needs to be held more accountable for their actions and receive tougher punishments. I think that these strict guidelines would help the people in the United States and people all over the world feel more confident in investing their money into the stock market.

Murder in Cathedral Essay

T.S.ELIOT is one of the great drametists in English literary worlde. From his literature, we can feel the great aesthetic pleasure. I have studied various plays included in my course. But â€Å"murder in cathedral† really different in them. It has its own greatness and the literary heights. Poetic form Eliot felt, is the most apt form of expression in the theatre. In his view, Ibsen, Stirnberg, and Chekhov were the limits of prose. In contrast to them are Yeats and Hofmannsthal who kept alive the ancient and traditionally affinity between drama and poetry. â€Å"Doctor Faustus†, â€Å"Pygmalion†, â€Å"The Alchmeist†, â€Å"the playboy of the western world†, â€Å"look back in anger† and other plays which are in my course have different style, diction, story, language and all the literary things. But â€Å"murder in cathedral† has the strength that it is the great poetic drama written by Eliot. It is the great play as a poetic drama. In â€Å"the music of poetry† (1942) Eliot acknowledges his bias in favour of the poetry to which he was indebted as a poet, and says that the music of poetry is not independent of the meaning. The meaning of poetry is sometimes beyond the poet’s intentions. He saw possibilities of theme recurrence and transitions in poetry as in music, and thought the concert hall more likely to quicken poetry them the opera house. He said that without poets of unusual sensibility and command of language, culture will deteriorate â€Å"poetry and drama† is notable for the retrospective attention. Eliot gives to his own development as a playwright, he finds that he has been writing variations on the theme of poetic drama throughout his career. For Eliot the highest aim of poetic drama is to bring us to the border of those feelings which are expressible only in music, without leaving the everyday world of dramatic action. â€Å"look back in anger† was considered a revolutionary Play but it has no element of poetic drama. Ben Jonson’s â€Å"The Alchemist† has the great touch of great characterization and language but it has not the simplicity and continuous development of the story like â€Å"Murder In The Cathedral†. â€Å"Doctor Faustus† is a tragic drama but as a poetic drama â€Å"Murder In The Cathedral† has its own class in drama. â€Å"Pygmalion† is primerarly a play about speech and phonetics, but related to it are Shaw’s social concerns. Eliot was accurately aware of the fact that his play was to be performed like Greek tragedy. T.S.Eliot’s essays on drama can be devided in to three parts; first, the Elizabathen essaya which discuss the criteria for drama. Second his assessment of the situation in contemporary theatre and ideal of poetic drama. Eliot’s statement about his ideal of poetic drama are rarely useful for the critic and the writers. He was has own thoughts different from others on poetic drama. So, his drama â€Å"Murder in Cathedral† has all the poetic element on which Eliot gave statements and thoughts. He creats the different way for poetic drama in English literature. While advocating the need for a poetic drama in modern times, Eliot stated that â€Å" a new dramatic literature can not come about until audience and producers can help poets write for the theatre.† He thought about the future of poetic drama that time, we can believe that â€Å"Murder In Cathedral† is Eliot’s most successful integration of his dramatic theories. No doubt, there are many great plays in English literature but â€Å"Murder in Cathedral† is special for the readers.

Cask of Amontialldo †Character Traits Essay

The character of Montresor in, â€Å"The Cask of Amontillado† is one who can only be defined with words along the lines of evil, or wicked. He vows to avenge the bold and childish Fortunato, whom Montresor swears did him wrong. Montresor could be described with many bold words, one being guilty. Though he is guilty, he is determined not to get caught. For instance, Montresor declares, â€Å"I must not only punish, but punish with impunity† (Poe, 1). Essentially, he is saying he will seek revenge on Fortunato, but he will get away with the vicious crime. Another obvious character trait for the devious Montresor, is dishonest. He claims to have obtained a cask of Amontillado, when the reader can tell through situational irony this is not true. He claims, â€Å"†¦ I have received a pipe of what passes for Amontillado, but I have my doubts† (Poe 1). Fortunato unknowingly follows the fiend, and in theory, seals his own fate. Montresor is also quite sneaky. He slyly gets Fortunato into a small inlet in his wine cellar– also a home for skeletal remains. He hastily chains him up before the poor Fortunato can even realize what’s happening. Explaining the situation, Montresor says, â€Å"†¦ inding his progress arrested by the rock, stood stupidly bewildered†¦ a moment more and i fettered him to the granite† (Poe 4). Lastly, Montresor is just plain mysterious. Readers never know exactly why he decided to go after Fortunato, but it is hinted he offended the killer in some way. When asked about his coat of arms, Montresor blatantly states, â€Å"A human foot†¦ the foot crushes a serpent rampant whose fangs are imbedded in the heel† (Poe 3). The motto underneath is â€Å"nemo me impune lacessit† (Poe 3). To conclude, Montresor plays not only a degrading character, but one of many evils.

GDP Expenditure Categories

GDP Expenditure Categories Gross Domestic Product (GDP) is generally thought of as a measure of an economys aggregate output or income, but, as it turns out, GDP also represents aggregate expenditure on an economys goods and services. Economists divide the spending on an economys goods and services into four components: Consumption, Investment, Government Purchases, and Net Exports. Consumption (C) Consumption, represented by the letter C, is the amount that households (i.e. not businesses or the government) spend on new goods and services. The one exception to this rule is housing since expenditure on new housing is placed in the investment category. This category counts all consumption spending regardless of whether the spending is on domestic or foreign goods and services, and the consumption of foreign goods is corrected for in the net exports category. Investment (I) Investment, represented by the letter I, is the amount that households and businesses spend on items that are used to make more goods and services. The most common form of investment is in capital equipment for businesses, but its important to remember that households purchases of new housing also counts as investment for GDP purposes. Like consumption, investment expenditure can be used to purchase capital and other items from either domestic or foreign producer, and this is corrected for in the net exports category. Inventory is another common investment category for businesses since items that are produced but not sold in a given time period are considered as having been purchased by the company that made them. Therefore, the accumulation of inventory is considered positive investment, and the liquidation of existing inventory is counted as negative investment. Government Purchases (G) In addition to households and businesses, the government can also consume goods and services and invest in capital and other items. These government purchases are represented by the letter G in the expenditure calculation. Its important to keep in mind that only government spending that goes towards producing goods and services is counted in this category, and transfer payments such as welfare and social security are not counted as government purchases for the purposes of GDP, mainly because transfer payments do not directly correspond to any type of production. Net Exports (NX) Net Exports, represented by NX, is simply equal to the amount of exports in an economy (X) minus the number of imports in that economy (IM), where exports are goods and services produced domestically but sold to foreigners and imports are goods and services produced by foreigners but purchased domestically. In other words, NX X - IM. Net exports is an important component of GDP for two reasons. First, items that are produced domestically and sold to foreigners should be counted in GDP, since these exports represent domestic production. Second, imports should be subtracted out from GDP since they represent foreign rather than domestic production but were allowed to sneak into the consumption, investment and government purchases categories. Putting the expenditure components together yields one of the most well-known macroeconomic identities: Y C I G NX In this equation, Y represents real GDP (i.e. domestic output, income, or expenditure on domestic goods and services) and the items on the right-hand side of the equation represent the components of expenditure listed above. In the US, consumption tends to be the largest component of GDP by far, followed by government purchases and then investment. Net exports tend to be negative because  the US typically imports more than it exports.

Biography of Sociologist Charles Horton Cooley

Biography of Sociologist Charles Horton Cooley Charles Horton Cooley was born August 17, 1864,  in Ann Arbor, Michigan. He graduated from the University of Michigan in 1887 and returned one year later to study political economics and sociology. Cooley began teaching economics and sociology at the University of Michigan in 1892 and went on to receive his Ph.D. in 1894. He married Elsie Jones in 1890 with whom he had three children. The doctor preferred an empirical, observational approach to his research. While he appreciated the use of statistics, he preferred case studies, often using his own children as the subjects on his observation.  He died of cancer on May 7, 1929. Career and Later Life Cooleys first major work, The Theory of Transportation, was in economic theory. This book was notable for its conclusion that towns and cities tend to be located at the confluence of transportation routes. Cooley soon shifted to broader analyses of the interplay of individual and social processes. In Human Nature and the Social Order, he foreshadowed George Herbert Meads discussion of the symbolic ground of the self by detailing the way in which social responses affect the emergence of normal social participation. Cooley greatly extended this conception of the looking-glass self in his next book, Social Organization: A Study of the Larger Mind, in which he sketched a comprehensive approach to society and its major processes. In Cooley’s theory of the â€Å"looking glass self,† he states that our self-concepts and identities are a reflection of how other people perceive us. Whether our beliefs about how others perceive us are true or not, it is those beliefs that truly shape our ideas about ourselves. Our internalization of the reactions of others towards us is more important than reality. Further, this self-idea has three principal elements: our imagination of how others see our appearance; our imagination of the other’s judgment of our appearance; and some sort of self-feeling, such as pride or mortification, determined by our imagination of the other’s judgment of us. Other Major Publications Life and the Student (1927)Social Process (1918)Sociological Theory and Social Research (1930) References Major Theorist of Symbolic Interactionism: Charles Horton Cooley. (2011). http://sobek.colorado.edu/SOC/SI/si-cooley-bio.htm Johnson, A. (1995). The Blackwell Dictionary of Sociology. Malden, Massachusetts: Blackwell Publishers.

What Impact Does Technology Laws Have On Business In America Essay

What Impact Does Technology Laws Have On Business In America - Essay Example (Techtheory, 2012). The frontier of technology has been clouded by businesses since forever. Anything that can speed up production, make it more efficient and bring home more profits will fish in increased business. Technology brought with it a change in the system, for example online air-ticket bookings, ATMs and so forth (Winston 2011). The opulent past eras together with the nowadays growing anxiety of technical transformation would suggest that there is a detailed scholarly reflection on the relationship between decree and technical know-how. Though, such is not inevitably the situation. Most academic researches on law and technical expertise can be responsive to anxieties engulfing a certain machine or technically arbitrated goings-on. This conventional grant resides in a rationally constricted border of location related with safeguarding a required upcoming finished law as a tool of communal procedure the scholar-lawyer’s task is primitively expressive and graphic in thi s case; it comprises the documentation of the ‘concerns’, ‘ambiguities’ as well as the ‘holes’ which need to be taken care of by decree-makers and lawmakers. This conference targets to contest this conventional strategy. (Techtheory, 2012). ... ysver 2010) Technology plays a major role in changing the interaction of lawyers with the clients along with changing the ways through which advertisement is done. It is a primordial form of regulations that guards innovative designs, imaginative practices of communication, findings, creations and secrets of trade. Law of this framework is upheld on the notion which is there to encourage creativity, and thus people accountable for unearthing and advances in sciences deserve to be compensated for their efforts put in for start-ups and break-through. Trifling ventures, too, have now come to be much easily started up with the help via the Internet. Even stay-at-home housewives who believe that they are able to make exceptional bakery items can now find it easier to market them over the World Wide Web and transport them to their customer base. Of course it is not as easily done as said. Any transaction steered online has to consider the issue of copyright, privacy and security. The compe nsations are some degree of dominations rendered by patent and copyright laws. A person is shamefaced of infringement of copyright if any one out of the five exclusively selected privileges provided to copyright proprietors is violated, under the Copyright Act. Copyright concerns; domain name concerns; trademark concerns; defamation; and linking and framing. In those privileges are included the right to prevention of reproduction of product (or work) by others, public display of a product, or distribution of a product (Tsyver, Patent law in the United States 2010). Nowadays, courts all over the globe are pressing hard to bring about the creation of Internet Laws- a process that is anticipated as well as dreaded at the same time. These laws are considered necessary because there are no past