Certified General Accountants And The Audit Accounting Essay Example For Students

Guaranteed General Accountants And The Audit Accounting Essay Outline1 CGA and the Audit a decent thing?2 Executive Summary:3 Bibliography CGA and the Audit something to be thankful for? Official Summary: Guaranteed General Accountants ( CGA ) gives a fact of review administrations including External and Internal Audit ; Compliance Audit ; Environmental review ; Forensic Audit ; and Operational Audit, to their customers. Notwithstanding, they are defying work in the field of outer review or certainty fight. Regardless of holding all the prerequisites instructive makings, experience, and liberation requests, they are non permitted to execute certainty map all through Canada. Actually, they are in an inconvenience place according to their CA rivals. CGAs have disagreed with the concerned approval for permitting authorization to make bear witness to outline Canada, as permitted to CAs, in the best association of the examining calling because of arranged focal points, for example, high rivalry, nature of administration, cost effectivity and innovative action of occupation possibilities. CGA is an expert representative who is the individual from the Certified General Accountants Association of Canada. This handle is given to the individuals who effectively complete its arrangement of expert surveies and run into different foundations and experience requests. Out in the open examples, CGAs can offer bookkeeping, examining and income upgrade heading administrations to the people. Under monetary reviewing, they can flexibly three sorts of administrations, viz. Review Engagements, Compilation Engagements and the Review Engagements. Under the Compilation Engagement, CGA can fold up unaudited financial data into monetary explanations, plans or studies, in view of data gave by the specialist s customer. Essentially, customer data is masterminded in the signifier of a monetary explanation, without executing a review or a reappraisal. Before long, the finicky articulations can be incorporated by all the three significant members viz. CA ( Chartered Accountant ) , CMA ( Certified Management Accountant ) and CGA. The second level of certainty is Review Engagement which is the unaudited reappraisal of financial proclamations of a worry or association by an autonomous officer for the plan of finding the credibility of the data gave an account of. The reappraisal includes doing questions refering finicky, working and legally binding data, utilizing expository processs and holding medicines with suitable functionaries of the undertaking. In Canada, CGAs and CAs can set about the reappraisal commitment where as CMAs are non permitted to execute the reappraisal assignments. The furthest extent of certainty is Attest or Audit Engagements. Under such fights a free controller is locked in to discover if the finicky explanations of an association present sensibly, with no material error, the monetary occasions that happened during the period review. The outside review is accomplished for the investors/owners. This is an issue that a CGA can non execute certainty fights in certain States like Ontario and Manitoba while he/she can make in other state like British Columbia. Actually, CAs have hoarded this guide and do non let different designations like CGA/CMA to come in this nation. CGAs can offer other review administrations, for example, Internal Audit, Compliance Audit, Environmental Audit, Forensic Audit and Operational Audit. As an undertaking of reality, all the listeners including CA, CGA and CMA can execute these maps and there is no restriction as material to confirm fight. CGAs are looking for their best to do it a level playing field and attempting to achieve their entitlement to execute the certainty fights all through Canada, at standard with CAs. They have mentioned cut and again to Accounting Standard Board ( ASB ) to permit authorization to CGAs for executing confirm map all through Canada. Notwithstanding, their endeavors did nt pass on any achievement. It is fascinating to advert that the instructive makings, experience requests, class of expert surveies and emancipation requests of CAs and CGAs are about the equivalent. Notwithstanding, there is a tremendous difference between the forces to execute the bear witness to fight since CAs can execute this guide all through Canada where as CGAs can non execute the equivalent all through Canada. This activity should be tended to appropriately by the concerned governments. .ue7e7fa2dc519406478c4d653f7ea8acc , .ue7e7fa2dc519406478c4d653f7ea8acc .postImageUrl , .ue7e7fa2dc519406478c4d653f7ea8acc .focused content territory { min-tallness: 80px; position: relative; } .ue7e7fa2dc519406478c4d653f7ea8acc , .ue7e7fa2dc519406478c4d653f7ea8acc:hover , .ue7e7fa2dc519406478c4d653f7ea8acc:visited , .ue7e7fa2dc519406478c4d653f7ea8acc:active { border:0!important; } .ue7e7fa2dc519406478c4d653f7ea8acc .clearfix:after { content: ; show: table; clear: both; } .ue7e7fa2dc519406478c4d653f7ea8acc { show: square; change: foundation shading 250ms; webkit-progress: foundation shading 250ms; width: 100%; mistiness: 1; change: darkness 250ms; webkit-progress: obscurity 250ms; foundation shading: #95A5A6; } .ue7e7fa2dc519406478c4d653f7ea8acc:active , .ue7e7fa2dc519406478c4d653f7ea8acc:hover { haziness: 1; progress: murkiness 250ms; webkit-change: darkness 250ms; foundation shading: #2C3E50; } .ue7e7fa2dc519406478c4d653f7ea8acc .focused content region { width: 100%; position: rela tive; } .ue7e7fa2dc519406478c4d653f7ea8acc .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: intense; edge: 0; cushioning: 0; text-enrichment: underline; } .ue7e7fa2dc519406478c4d653f7ea8acc .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .ue7e7fa2dc519406478c4d653f7ea8acc .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt range: 3px; box-shadow: none; text dimension: 14px; textual style weight: striking; line-stature: 26px; moz-outskirt span: 3px; text-adjust: focus; text-beautification: none; text-shadow: none; width: 80px; min-stature: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/straightforward arrow.png)no-rehash; position: outright; right: 0; top: 0; } .ue7e7fa2dc519406478c4d653f7ea8acc:hover .ctaButton { foundation shading: #34495E!important; } .ue7e7fa2d c519406478c4d653f7ea8acc .focused content { show: table; tallness: 80px; cushioning left: 18px; top: 0; } .ue7e7fa2dc519406478c4d653f7ea8acc-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .ue7e7fa2dc519406478c4d653f7ea8acc:after { content: ; show: square; clear: both; } READ: Ap Lang Synthesis EssayThe issue of allowing to CGA for executing certainty map is aggressive and extraordinary since long. The ACSB ought to reevaluate the situation and let the consent to CGAs to set about this guide in the best inclusion of the examining calling on the grounds that there are a clump of points of interest and advantages related with this authorization. The central bit of leeway ascribed is that the inspecting field would go a leveling playing field for the two CAs and CGAs. The evaluating calling would go increasingly competitory and proficient on the grounds that the listeners would hold to be focused o n the furthest extent of achievement because of the high evaluation of rivalry. Second, the customers would envision furthest extent of value administrations structure the wide arrangement of listeners. Third, this pressure would hold a significant effect on the expense of reviews. Because of the nonattendance of any opposition, CAs are allowed to tolerate down any aggregate of review expense from their customers. Along these lines, the section of CGAs in certainty guide would chop down the review cost on the grounds that there are more listeners accessible in the field because of intense rivalry. Last however non least is the upside of bring forthing more occupation possibilities and the innovative movement of new concerns and bookkeeping houses across Canada. List of sources Reviewed account hypertext move convention:/en.wikipedia.org/wiki/Audit Monetary review hypertext move convention:/en.wikipedia.org/wiki/Financial_audit

The Kite Runner Assignment Example | Topics and Well Written Essays - 250 words

The Kite Runner - Assignment Example It empowers an individual adding it to get to the focal character’s mind (Amir) in the entirety of the happenings he experiences. It is as though the reader’s sensation is indistinguishable suppositions from Amir. The subjects utilized in this novel were captivating. They change from connections between relatives and dependability among companions to the dread war and social glitches of the age (Hosseini, 7). This clues me to another stage that kept me so intrigued with this novel. I learned numerous new things about the past and ethos of Afghanistan and its kin. It was astounding to find out about the troubles Afghans experienced during the time the Russians had control of the region. It was amazing to see the difference in social class focused on the race or various divisions of Islam. I realized that Sunni and Shi’a had issues yet I didn't know to what degree. It was entrancing to discover that Sunni and Shi’a experienced issues however I didn't know to what level. There is so much history and culture in the novel uncovered yet the novel has a wonderful and moving story (Hosseini, 8). All in all, the connections between the characters in this novel are loaded up with such a significant number of conclusions. Each character has his/her own division and noteworthiness, which keeps the peruser delighted. At the point when these divisions are sorted out, it makes the novel to be fascinating. I need to state that my favored parts were the segments that show the circumstances of war during the Taliban control. A considerable lot of the activities are loaded up with anticipation. The parts with activity in the novel made me not to quit understanding it. This tale is actually a page-turner and I underwrite it profoundly to all perusers in secondary school

Spring Term 2006!

Spring Term 2006! 1. Buzz. 2. Hit snooze button. 3. Buzz Buzz. 4. Hit snooze button, again. 5. Buzz Buzz Buzz. 6. Hit snooze button, again. 7. Buzz Buzz Buzz Buzz. 8. Roommate hits you before you can hit the snooze button. Maybe if I had one of these, my morning would have been different. 9:30 AM is really too early to have class; unfortunately, all semester I will have to take it like a champ. So todays schedule went a little like this today: 9:30 11 am: Thermal Fluids Engineering 2 11 am 12:30 pm: Design and Manufacturing 1 12:30 2 pm: Tissue Engineering for Analysis, Prevention, and Treatment of Human Disease So to tell you the name of the class without telling you more about the class would be a travesty, so here goes: Thermal Fluids Engineering 2 is the final chapter in the saga of a boy and his trials with energy and entropy. Directed by John Brisson with the support of Jacopo Buongiorno and Gerald Wilson, Bryan will seek to understand the truth behind boiling water and surfing. Basically, 2.006, will continue discussing topics of entropy and energy as they relate to heat transfer and fluid dynamics. 2.007 will be a fun class. Basically, the goal of the class is to design a robot to accomplish certain tasks. Over the course of the semester, you build a robot that will compete against the rest of your class of 150 people with goals to have Professor Slocum pick you up and run around Johnson Ice Arena with you over his shoulder to declare you winner. Last years competition table was inspired by Simmons Hall. Do you see the resemblance? This years table I think is a lot more simple, but will be an interesting challenge to develop ways to score points. Finally, today, I had BE.360 which is taught by my UROP advisor, Linda Griffith. Basically, the goal of this class is to introduce us to some of the fundamentals of tissue engineering (biology and equations). Also, this class will introduce the two different directions tissue engineering can go. One direction is where you engineer artificial organs, and the other direction is where you use tissue engineering to develop human models to predict and prevent disease. Tomorrow I only have 90 minutes of class, Im STOKED. Responding to some questions I received about classes: Shen asked, So are classes generally 1.5 hours long? Shen, it really depends. My observation is that the basic freshman classes are just an hour most of the time. However, most HASS (Humanities, Arts, Social Sciences) are an hour and a half long. Most of the classes that I have now as a junior are an hour and a half long. Actually, this semester, all of them are. Shen also asked, And what are some of the classes/teachers youve particularly enjoyed? This is a pretty hard question to answer, but my favorite class at MIT would have to have been Quantitative Physiology I: Cells and Tissues for the way it really integrated biology and engineering. It was a really interesting class in my opinion because it involved a lot of modelling of processes that the body performs, but not only allowed us a qualitative understanding of the process but a quantitative understanding as well. As far as my favorite professor at MIT, that prize goes to Arthur Mattuck. I had him my freshman year for calculus, and I must admit when I visited for Campus Preview Weekend, I attended one of his Differential Equations lectures where he got up on a table and kicked a can to demonstrate the concept of frequency in differential equations (this man is in his 70s I think). I partially chose to come to MIT because of that lecture. He also rides a bike to school, so I give him props for that as well. Needless to say, I think you can understand why I founded the Arthur Mattuck Fan Club on the Facebook. In a previous iteration of this entry, I promised a music video. Well, here you go. Last night, my fraternity went to serenade the new members of Alpha Chi Omega. I had my boy band moment.

My Experience At Lakeland Community College - 1753 Words

Looking back on every class, every book, every professor, every experience and every friend that has brought me to where I am today; graduating with my Bachelor of Arts in Communication Studies with a concentration in applied communication from Kent State University, I feel overwhelmed with gratitude. I am going to demonstrate my reflections on my learning experiences, the connections between my coursework, internship experience, and growth as a communicator while focusing on the power that education has in my life. My journey began at Lakeland Community College (LCC) in Kirtland, Ohio in 2011. I started taking general courses, not knowing which direction would be the best for me to go into. This would be my greatest obstacle to overcome, but I knew with certainty that I would soon find out which direction to set sail in. I spent two years at LCC and gained confidence in my abilities and suddenly realized my great potential through all the doors that education started to open for me. I had an amazing opportunity to enter a speaking competition at LCC and placed in first. I realized when my goal was to give the audience an impactful message and was not focused on winning, that communication was one of my strongest assets and greatest passion. Discovering this was a primary blessing and actually winning the competition became a secondary delight. It was also at LCC that I became conversant in American Sign Language, made new friends, established excellent rapport with theShow MoreRelatedTheme And Theme In Hillbilly Elegy By J. D. Vance1420 Words   |  6 Pagesways. Lastly, we see the theme of grit. Grit to me means the drive or motivation to do something without giving up. The author has grit in this story when he decides to further his education unlike everyone else from his hometown. Starting his college education and graduating from Ohio State University and then proceeding to graduate from Yale’s Law school is an outstanding accomplishment especially for someone from that type of poverty induced town. Vance has portrayed the theme of resilienceRead MoreA Day That Changed My Life969 Words   |  4 PagesMay 25, 2013, a day that would forever change my life. The day that I knew that with a simple piece of paper my life would be filled with endless possibilities. On this day I graduated high school. To some thi s is not what they would call a milestone in life and that it could be achieved by anyone but to an eighteen-year-old, African American, female, living in a small rural town that is heavy laden with poverty, this is the most memorable moment of my entire life and somehow I imagine that this isRead MoreAnalysis Of Austin Armour s The Side Of Ficer 2500 Words   |  10 Pagescitizens in their community. This paper is designed to bring light to that side of the story, the side of the officer, the importance of their position, the dangers that they face on a daily basis to protect members of the community, and how as a public we can better understand and appreciate what police officers do for us each and every day. This first section is designed to delve into the safety measures that officers put into place to ensure their safety and the safety of the community. First and foremostRead MoreOnline Degree Programs: The Only Option for Busy Adult Learners2684 Words   |  11 Pagesrequired, and there are many obstacles that may hinder a student new to educational technology through modes of computer-mediated learning (CML). Therefore, it is my belief, that it takes a certain breed of adult students to enroll and remain in an online course or in an online program and finally, to complete the course successfully. 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Honore was born in 1947 to Udell and Lloyd Honore in Lakeland, Louisiana. Honore was the eight ofRead MoreDual Language4991 Words   |  20 PagesDual Language Guadalupe Silva Lakeland College Table of Contents Abstract 2 Features of Dual Language Education Programs 4 Assessment and Accountability 6 Curriculum 6 Instruction 7 Staff Quality 10 Professional Development 12 Program Structure 14 Family and Community 16 Support and Resources 17 Conclusion 18 References 20 Abstract What is Dual language? Dual language is a form of bilingualRead MoreLiterature Review And Critical Analysis3749 Words   |  15 Pagesfoodstuff I was very familiar with leaving behind the other ones that would consume my time in processing them before cooking. AT this point I had to picked what was left available to create a recipe. The question is this – Did I prepare a meal? Was it balanced? Was it tasty? Was it attractive? Ultimately did i win? The answer to these questions is an emphatic ‘YES’. So what happened? 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Market Opportunities in E-Commerce, South Africa

Market Research Report On Analysing Online Retail Possibilities For South African Businesses Prepared by Asaad Manjoo Contents Chapter 1: Introduction 1.1 Aim of the research study 1.2 Problem Statement and Objectives 1.3 Literature study†¦show more content†¦The secondary objectives are: †¢To determine consumer trends in online shopping in. †¢To identify the most successful online retailers. †¢To identify the key factors that helped make these retailers successful. †¢To identify the advantages and disadvantages of online retailing as opposed to traditional retailing. 1.3 Literature study This study is encompassed around the E-commerce sector in the business field. E-commerce is the buying and selling of goods on the Internet. Through this channel, we have various different types of transactions but the one that is dealt with in this study is retailing otherwise known as e-tailing. The world as we know it is constantly changing, technology is getting more advanced daily and the effects this has on the lives of people on a daily basis is immense. Historical evidence of the motor-vehicle shows the effect of technology on mankind. Today the Internet is shaping the world and connecting it in ways that people half a century ago would never dream of. The Internet is filled with endless possibilities forShow MoreRelatedMarket Opportunities in E-Commerce, South Africa11779 Words   |  48 PagesMarket Research Report On Analysing Online Retail Possibilities For South African Businesses Prepared by Asaad Manjoo Contents Chapter 1: Introduction 1.1 Aim of the research study 1.2 Problem Statement and Objectives Read MoreWalmart : A Global Market2336 Words   |  10 Pagesgrowth in the United States. To continue to grow and to remain a competitor in the retail discount industry Walmart has to become a global market. 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Between the more prominent points in the study are the flourishing in job formation in the telecommunicationsRead MoreImportance of E-commerce in Modern Business1176 Words   |  5 PagesTable of Contents Definition and types of E-commerce 3 E-commerce payment systems 3-4 Importance of E-commerce in modern business 3 Conclusion 7 Recommendation 7 References 8 E-Commerce refers to the buying and selling of products and services over electronic systems like the internet and other computer networks. This system depends on technologies like electronic funds transfer, supply chain management, internet marketing, online transactionsRead MoreSamsung Swot Analysis1456 Words   |  6 PagesCompany Background: Samsung is a South Korean multinational company those beginning its business as a tiny commerce company and right now turning into world largest corporation. 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(2010), some companies like Walmart and Dell have applied this system to gain a competitive advantage in the market while others have failed to apply it owing to its complexity. Companies require adequate and accurate information about all the players in the chain management in order for them to meet their consumers, demands whileRead MoreIndia s Impact On India Essay1748 Words   |  7 PagesIn recent years, the Information technology sector has really taken-off and boomed up due to various factors such as enormous funding, alliance activities, revolutionarising technology and a rapid increasing domestic market. India had 3100 startups in 2014, its being predicted to increase to 12000 by 2020. The startups in the IT sector has a large contribution in number of startups. 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B2B e-commerce â€Å"is business which is conducted between businesses via some electronic means† and B2C e-commerceRead MoreIs It Possible For The Uae?1437 Words   |  6 PagesDubizzle location Kampoart For Me compareit4me.com and Eureka Eureeca.com and Vcher Fetchr and Joe NAPT GoNabit and Gado Badu JadoPado and Just Falafel Just Falafel and raking Nabbesh location property finder propertyfinder.ae and market Souq, to name a few. According to the report published by the flash in 2015 for leadership in some countries, almost 60 percent of all supporting institutions for Entrepreneurship was created in the UAE in the last four years, after he revealed Market Opportunities in E-Commerce, South Africa Market Research Report On Analysing Online Retail Possibilities For South African Businesses Prepared by Asaad Manjoo Contents Chapter 1: Introduction 1.1 Aim of the research study 1.2 Problem Statement and Objectives 1.3 Literature study†¦show more content†¦1.1 Aim of the research study Online shopping has been a growing phenomenon all over the world especially among countries with well-developed infrastructure with marketing activities over the Internet (Kau, Tang amp; Ghose, 2003 ). Hawkins, Best amp; Coney (2001:592) are of the opinion that Internet sales will increase rapidly in years to come. Today we live in an age where the Internet has become an important medium for people in their daily lives. The Internet is an effective and efficient way to communicate with people, to manage banking transactions and to purchase goods and services. While the old way of going to a shop to get the feel and touch of a product before purchasing it is still nice, for certain services like booking airline or concert tickets have made the process much easier and efficient. Although predictions have been made on the future of online shopping and the increased growth in sales, the question arises as to why don’t more South African businesses utilise this market? This question can go hand in hand with another question: Why do consumers in South Africa still prefer shopping at a shopping mall as opposed to the convenient way of shopping online? In order for South African businesses to retail their respective products or services online, there needs to be a profitable market of users for the respective businesses toShow MoreRelatedMarket Opportunities in E-Commerce, South Africa11786 Words   |  48 PagesMarket Research Report On Analysing Online Retail Possibilities For South African Businesses Prepared by Asaad Manjoo Contents Chapter 1: Introduction 1.1 Aim of the research study 1.2 Problem Statement and Objectives Read MoreWalmart : A Global Market2336 Words   |  10 Pagesgrowth in the United States. To continue to grow and to remain a competitor in the retail discount industry Walmart has to become a global market. For Walmart to be successful in becoming a global company the following strategies will be discussed: †¢ Walmart could enter into the market †¢ Walmart could use e-commerce †¢ Buy a company that is already located in Africa †¢ Acquire Massmart The external and internal environment of both Walmart and Massmart will help to show whether or not the merging of theRead More3G and 4G Services745 Words   |  3 Pagesexploit in 2009, according to the MIIT. Furthermore, The Philippines is experiencing healthier socio-economic enlargement due to third-generation (3G) network services, rendering to a report by telecom firm Qualcomm. The report mentioned South Korea, South Africa, Thailand, and the Philippines as examples of countries with 3G deployment, and how this substructure affected their corresponding economies. Between the more prominent points in the study are the flourishing in job formation in the telecommunicationsRead MoreImportance of E-commerce in Modern Business1176 Words   |  5 PagesTable of Contents Definition and types of E-commerce 3 E-commerce payment systems 3-4 Importance of E-commerce in modern business 3 Conclusion 7 Recommendation 7 References 8 E-Commerce refers to the buying and selling of products and services over electronic systems like the internet and other computer networks. This system depends on technologies like electronic funds transfer, supply chain management, internet marketing, online transactionsRead MoreSamsung Swot Analysis1456 Words   |  6 PagesCompany Background: Samsung is a South Korean multinational company those beginning its business as a tiny commerce company and right now turning into world largest corporation. The corporate deals with its business in many sectors like advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The corporate was established in 1969 in Suwon, South Korea and notable globally for its electronic merchandise (Kelly, 2011)Read MoreReport On Competitive Strengths Through E Commerce Essay1768 Words   |  8 Pages BG004 E- Commerce in Modern Global Economy Report on Competitive Strengths through e-commerce Individual Assignment By Bhupinder Kaur Student ID: i144413 Date: 5th Nov 2014 Lecturer: Mr. Wilfred Kurukulasuriya Contents Abstract 3 Introduction 3 E-commerce Opportunities and Challenges 4 Operational requirements 6 Hardware, Software Technology 7 FindingsRead MoreSupply Chain Management1259 Words   |  5 PagesIntroduction Supply chain management is a valuable practice whose purpose is to offer businesses a competitive advantage in the market place. According to Jacoby, D. 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Northern Renaissance Art Free Essays

The epoch of Renaissance in general was an age of humanism characterized by a new spirit of freedom, a new sense of the individual, a new realism in visualizing nature and the emergence of the artist as an individual creator. The Renaissance art traditions developed in Italy and then traveled to the north of the Alps and there became known as â€Å"Northern Renaissance†. Though the Northern Renaissance displays some differences from that of the South, it shares with the Italians in the three essential Renaissance qualities, namely, â€Å"a new interest in the world of fact, a new acceptance of that world as having independent value for artistic creation irrespective of any super sensuous presuppositions, and the separation of the several arts†. We will write a custom essay sample on Northern Renaissance Art or any similar topic only for you Order Now (Rowley, Sarton, Schevill and Thompson, 111) However, these qualities exhibited themselves in the north and south in quite different appearances because of the fundamental differences between the Gothic and the Classic traditions. Italy’s climate, customs, and racial tendencies would never permit to assimilate the Gothic tradition, and the northern countries could never forget it. For example, in northern tradition we cannot find the mathematically exact perspective to reveal the space and volume, as well as the interplay of light and shadow is replaced by the scrupulous work with light and colors. North Renaissance portraits became living entities through the new realism which could render the detailed peculiarities of the individual and courtly approach and this trait derives from Gothic style. For example, Jan van Eyck’s realism led to an examination of the details of actuality, so that he painted portraits that are convincing likenesses. To illustrate how the concept of Art Nova was reflected in the works of northern artists it would be appropriate to discuss some of them. In general the realism of the north as Rowley and his colleagues put it â€Å"was more discursive and more minute than that of the south†. (114) Jan van Eyck’s painting of Arnolfini and his wife is packed with incidentals, the dog, slippers, pillows, fruit, fly whisk, chandelier, and the mirror which repeats them all again, inscription on the wall of the richly furnished room recording that Jan ‘was here’. The new element of light, which seems diffused through the room, is regarded as illumination for each separate object. Jan van Eyck gives us a realism that is more than real. In Eyck’s Virgin and Child with Chancellor Rolin realism showed itself in a microscopic examination of objects. Each hair and each pore of the skin was scrutinized so carefully that the visual unity of the whole was lost in the focus upon small detail. The study of surfaces results in the qualities of things, the masterful use of light and color hues affected by light which makes the work different from Italian Renaissance. The most surprising characteristic of northern realism is the absence of movement. After the dramatic gesticulation of Giotto’s compositions and the Internationalists, the figures of Van Eyck, seem to be absolutely frozen. Perhaps much of the â€Å"sanctified mood† (Rowley, Sarton, Schevill, and Thompson, 116) of Van Eyck’s paintings is created by the fact that his people never look at anything, which gives them a curiously removed quality. Another artist of the period, Robert Campin, was one of the earliest and greatest masters of Flemish painting. Characterized by a naturalistic conception of form and representation of the objects of daily life, Campin’s work marks the break with the prevailing International Gothic style and prefigures the achievements of Jan van Eyck and the painters of the Northern Renaissance. One of his masterpieces is the Mà ©rode Altarpiece, a triptych of the Annunciation with the donors and St. Joseph on the wings. The Virgin is portrayed in a setting of bourgeois realism in which interior furnishings are rendered with the frank and loving attention to detail traditional to the Art Nova of Flemish art. Campin’s passion for the natural and domestic world dominates his picturing of the sacred story. This feature to depict sacred motives within mundane context also testifies to the difference between South and North as regards Renaissance. Campin meticulously depicts even the tiniest trifle in a technique which combines semi-transparent oil overlay on water-based opaque pigments that results in the creation of space. Yet Campin’s work includes several symbolic elements like the brass laver or lily flower, both referring to Mary’s purity. The innovations of the Northern Renaissance were apparent not only in painting but also in sculpture art. Thus Claus Sluter was the influential master of early Netherlandish sculpture, established highly individual monumental, naturalistic forms. The grandeur of Sluter’s forms can only be paralleled in Flemish painting by the van Eycks and Robert Campin discussed above. The works of Claus Sluter infuse realism with spirituality and monumental grandeur. Sluter was an innovator in art, and thus it would be just to apply the concept of Art Nova to his works too. He moved beyond the prevailing French taste for graceful figures, delicate and elegant movement, and fluid falls of drapery. His sculptures are weighty, massive, dominantly large and balanced forms. The six-sided Well of Moses, presents six life-sized prophets holding books and scrolls. The head and torso fragment of Christ from the Calvary reveal a power and intensity of restrained expression that conveys overwhelming grandeur. Suffering and resignation are mingled, a result of the way the brow is knitted, though the lower part of the face, narrow and exhausted, is calm and without muscular stress. The figures of the composition dominate the architectural framework but also reinforce the feeling of support that the structure provides through their largeness of movement. Sluter’s latest preserved work is the tomb of Philip the Bold consisting of forty figures, each about 16 inches high and made up the mourning procession. Sluter conceived of the figures as weepers, of whom no two are alike; some are openly expressing their sorrow, others are containing their grief, but all are robed in heavy wool, draping garments that occasionally veil a bowed head and face to convey a hidden mourning. Sluter epitomized in sculpture the growing awareness of an individualized nature with an enduring grandeur. Reference List: Harbison, Craig. The Mirror of the Artist: Northern Renaissance Art in its Historical Context, New York: Abrams, 1995. Rowley, George et al. The Civilization of the Renaissance. Chicago: The University of Chicago Press, 1929.       How to cite Northern Renaissance Art, Essay examples

The Current Economic Crisis and Lessons for Economic Theory

Introduction The global financial crisis has greatly challenged the economists, financial institutions and political leadership. The effects that arose from the crisis still affect some regions of the world to date. This is typical of the austerity measures taken by some of the western economies.Advertising We will write a custom essay sample on The Current Economic Crisis and Lessons for Economic Theory specifically for you for only $16.05 $11/page Learn More In fact, the effects of the global financial crisis caused a series of economic bubbles that threatened the stability of the European Union. In this light, the following paper will discuss some of the critical tenets in Stiglitz’s article shown as the title of this paper. The article is presented in a simple, friendly format, yet the issues addressed are principles according to which modern economies function. Although economy recovery cuts across the globe, there is a constant fear that the world could slip back to the recession, especially after the threats posed by debt default and the need to curb the amount of debt for the U.S., amidst threats of war and poor global banking practices, are a great concern to economists. However, Stiglitz attempts to shed some light on pertinent issues and possible approaches that can address these problems. This may offer a glimmer of hope to the modern day uncertainties in the economy world. The synthesis of the article Stiglitz presents a systematic analysis of the global economic crisis in which he reveals the cause, the reality and the aftermath of the economic crisis (Stiglitz 281). The historical perspective of the global recession informs the failures of the economists and financial institutions to prevent the crisis. Some of the vital principles of practice were overlooked as the recession took shape. In this respect, the paper focuses on two aspects. First, as a matter of urgency, there is a need to refine the principles a nd the practices of the banking sector as this sector plays a critical role in the economy of every nation. The second aspect is the need to synthesize the lessons learnt from the crisis and how they affect intellectual processes of teaching and learning. On the same note, there is a need to re-evaluate what the nations pass on to the next generation both professionally and scholarly (Stiglitz 281). In the view of Stiglitz, the recent economic depression began in the United States and later on, affected the rest of the world (Stiglitz 282). The global effect of the recession could not subside by taking a global approach. The feeble globalization principles forced each nation to react to the situation at an individual level. Even more, the recession affected the countries at varied degrees. Therefore, different countries overcame the crisis at different times (Stiglitz 282-283). In this respect, the United States employed a number of strategies to address the looming crisis. The firs t initiative against recession was the stimulus program. In this arrangement, the government increased its debt from about $5.7 trillion to an increasing figure of over 10 trillion dollars (Stiglitz 284).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Stiglitz believes that stimulus programs should have been anchored on building human capacity in skills and training, building a social and physical infrastructure and coming up with novel technologies (Stiglitz 284). There is a need to stabilize the economy by reducing expenditures by an estimated figure of 5 to 6 percent of the GDP (Stiglitz 284). The second initiative was to understand the fundamental problem of recession. Putting more money into the economy systems would not offer a solution without addressing the specific issues in the financial sector. Therefore, identifying the causes is an independent point of consideration. The third initiative was to use the information drawn from the problems to reorganize the financial sector (Stiglitz 285). Reorganization of the financial sector involved an elaborate and systematic plan of actions touching on all the ancillaries of the sector and projecting the plan into the future (Stiglitz 291). As the article draws to the end, Stiglitz synthesizes the role and position of the economists before, during and what they ought to do afterwards (Stiglitz 293). In this part, the article details the scholarly, professional and principle perspectives of the lessons learnt from the economic crisis. The article is philosophically and empirically critical regarding the objectivity of the theory of the invisible hand and the modern economy theory of imperfect information (Stiglitz 293). There is a need to analyze, compare and contrast the ageless principles and theories employed in economics and narrow down to how they affect real economic indicators. Such indicators include, taxation , mortgage industry, bonds, the trends in the financial markets, GDP of regions and countries, inflation, trends in investments, budget deficit and policy formulation (Stiglitz 293). Understanding the reality of recession in perspective of the economic theories The effects of financial crisis are far-reaching, not only geographically but also across time. Five years after the economic depression, most investors still do not have the confidence and certainty in where to invest and how to manage their finances. Studies show that massive investment may come with its own risks and this is possibly why most investors are hesitating (Green para. 3). Therefore, it is vital for investors to learn from the past and distribute their risks by increasing their investment portfolio (Green para.10). The challenge comes from the fact that recession may begin with a given economic sector but may affect many sectors either directly or indirectly. The same phenomenon affects the economic practices of governments and institutions. The financial effects of recession are objective and not imaginary. Stiglitz observes that the effects experienced by the US and the entire globe had nothing to do with the invisible hand as Adam Smith had stated in the classical economic theory (Stiglitz 293).Advertising We will write a custom essay sample on The Current Economic Crisis and Lessons for Economic Theory specifically for you for only $16.05 $11/page Learn More A critical analysis of the causes and effects of the economic recession reveals the need to re-evaluate the enduring economic principles and theories. That is because the economic indicators and empirical relations of economic parameters fail to accurately predict recession. They also fail to systemize the cause of the effects from one form of investment to another or in different industries. In effect, most economists believe that lack of empirical clarity and certainty, with regard to recession, is a function of imperfect information. This is the dominant aspect in the modern economy theory (Stiglitz 293). Studies show that a direct instruction to a financial institution may affect the decisions the institution makes with regard to financial indicators (Global inflation Para.5). But the challenge still remains on whether this turns out to be the invisible hand. It should also be observed that other than instant, direct influence on financial policies, financial institutions apply policies which effects become manifested later on and in a direct way. This is the case of Investment bank Lehman Brothers Holdings. Short term bailouts by the government or other financial institutions cannot address the effects of bad policies and failed implementation of these principles (Green Para.1). The stimulus programs and government institutional bailout usually function according to the same principle of offsetting the current crisis, with the view to stabilize the situation over time. In su ch a case, investment in infrastructure, building a robust work force and developing better technologies are beneficial over time (Stiglitz 282). Financial bailouts and stimulus programs, plunged into consumerism, are ultimately detrimental to the economy. The institutions increase in liability with a reduction in assets and thus, face high inflation. The problem of inflation not only lies in bad investment policies of stimulus funds, but it is also rooted in the monetary and fiscal policies of the institutions and the government (Global inflation Para. 4). In perspective, poorly formulated stimulus programs and borrowing for consumerism do not solve challenges of recession. Governments may fail to curb on borrowing figures, or give more funds to the affected institutions but these may not make them fit to survive. The question of a country, institution or organization surviving from recession is evident in the social application of the Darwinian Theory of natural selection.Advertis ing Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More If the countries are not bailed out and stimulus programs fail to rescue institutions, they are bound not to survive. Therefore, recovery plans from recession must be rooted in informed institutional policies, principles and theories. Quick bailouts and direct instructions may not bear long term fruits as far as curbing recession is concerned. This requires intensive, strategic research and implementation. Scholars and the government need to shoulder the responsibility of preventing and overcoming economic depression Works Cited â€Å"Global inflation. Back to the 1970s?† The Economist. 2004. Web. Green, Kelly. â€Å"What we learned from the financial crisis†. Wall Street Journal. 2013. Web. Stiglitz, Joseph. â€Å"The Current Economic Crisis and Lessons for Economic Theory†. Eastern Economic Journal 35.10(2009): 281-296. Print. This essay on The Current Economic Crisis and Lessons for Economic Theory was written and submitted by user Fiona Cochran to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Britain was the richest country in Europe Essays

Britain was the richest country in Europe Essays Britain was the richest country in Europe Paper Britain was the richest country in Europe Paper What Accounts for the fact that Britain was the richest country in Europe in the 1870 1914 period? In the half century or so before the 1914 war . . . if any nation had truly made a bid for world power, it was Great Britain. In fact, it had more than made a bid for it. It had achieved it. 1. By 1914, Britain was considered as the worlds greatest power; it controlled the worlds largest empire, a fifth of the worlds land surface and a quarter of the worlds population. The British navy was the worlds finest; it was even more powerful and larger than the next two navies combined.In its zenith, Britain was the manufacturing workshop of the world, with one third of all manufactured goods coming from her shores; it produced two thirds of the worlds coal and half of the worlds cotton, cloth and iron2. From this position, it conducted over one quarter of the worlds trade and in 1914; the registered shipping tonnage was more than the whole world combined. Not only was Britain considered economically rich but also politically and socially, she had one of the worlds highest living standards, healthiest population and most progressive governments.The period 1870 1914 in Britain, conjure images of power and expanding empire, however it was these years, which are associated with the beginning of Britains one hundred year decline. This period saw growth in industrial production decrease, as did her share in worlds manufacturing capacity, Germany became the worlds centre of manufactured goods and by 1914 her share in world trade decreased by almost a third of 1870. This period saw Britain caught napping3 whilst the rest of the world was catching up, she had rested on her laurels and did little else aside from watching those laurels begin to wilt.However, although Britain was showing signs of decline this essay shall illustrate that she was still the richest country in Europe and the reasons for this. In 1870, British businessmen looked back at years of unstained economic expansion. At home, British industry moved into a period of remarkable prosperity where growth had averaged 3-4% per annum; agriculture enjoyed a similar Golden age known as high farming and abroad Britannia ruled the seas and the empire brought untold riches to the British homeland.Britain had the worlds most democratically progressive governm ents and the legislation brought forward by government made British society one of the most dynamic and zestful societies of Europe. The end of 1914 had truly established Crown imperial; British assets abroad were enormous. The end of the ninetieth century saw incredible growth, with an extra 60 million people and 4. 5 million square miles added to the empire. The total land under the Raj, was astounding, the dominions of Canada in the West and Australia in the East, India and much of Africa.Every important point on the globe was coloured pink; the Suez Canal safeguarded trade routes to India, Gibraltar guarded the meditation and the British in Aden controlled the mouth of the Red Sea. Britain controlled all of the seas, the Pacific was controlled through naval bases in Singapore and Hong Kong and islands sprinkled all over it, the Atlantic was controlled from the West Indies, Canada and West Africa and the tips of Africa and south America were safeguarded by colonies in Cape Town a nd the Falklands respectively.Kuwait, which was added to the empire in 1899, added control of the Middle East. These colonies not only brought enormous prestige but also enabled Britain to own much of the worlds mineral wealth either directly through the empire, as in the tin of Malaya and the diamonds of South Africa, or indirectly through British companies such as British Companies in South America. London was the worlds financial capital and Britains overseas investment totalled 40% of the world total. The whole world was under the dominance of Great Britain.An example of Britains power and wealth, or even brashness is the buy out of the Egyptian share of the Suez Canal in 1875. The khedive of Egypt looked to sell his 44% share in the Suez Canal, the French government whose companies owned the majority of shares were interested. However, before the French could react, Disraeli had promised Egypt i? 4 million tomorrow. The deal was successful and Britain became the largest shareho lder in the Suez Canal that was so essential to her trade.Disraeli commented the French government has been out-generaled, this illustrated to the rest of Europe that Britain possessed the money, backing and resolve to do whatever she pleased. The Queen was made Empress of India in 1876, as lord Curzon the viceroy to India once stated, as long as we rule India we are the greatest power in the world, if we loose it we shall drop straight away to a third rate power4. Although India was the major market for British cotton imports, Curzon was not referring to this.He like much of the British public felt that Britains economic loftiness lay upon her empire, which instead of being the cause of her power was the consequence of power; the cause being British industrial and economic dominance. The foundations of this economic and colonial bliss had been the mercantile policies followed by politicians for the last 250 years. Since the fifteenth century, Britain had followed a policy of laisse z faire and trade in primary commodities within a world market based upon colonies.This continued throughout the 1870 -1914 period where Tariffs in the UK were 0% compared with Frances 20% and Germanys 13%5 This resulted in British industry being able to buy cheap raw materials and flood the world market with its cheap manufactured goods. Britain was the first nation to industrialise and utilised this with an intelligent division of labour based upon the exchange of primary products for manufactured goods. There was little competition from abroad and therefore European countries were, just as British colonies were, important buyers of British manufacturers.For the early part of the 1870-1914 period, Britain kept at the forefront of technological fields. New processes in the metal industry such as Bessemers converter system, which could produce steel at much lower prices and Siemens open-hearth process, which could produce a stronger type of steel, encouraged growth in engineering in dustries. This combined with the increase in population caused the demand for manufactured goods at home to increase dramatically. Noticeably the railway industry saw enormous injections of investment; the railway boom resulting in a total of 14,510 miles of track in 1880.This not only created extra jobs but also created a large market for the iron industry; coal industry and most importantly enabled the transportation of manufactured goods of all kinds to ports much more quickly. This coupled Britains strangle hold on the seas in merchant shipping played a vital role in the increase of British exports. The great spurt of industrialisation meant Britain not only longer dominated the world economy through its navy and its extensive colonies, but now more importantly through its productivity of its leading industries.

Building Sentences With Absolute Phrases

Building Sentences With Absolute Phrases Among the modifiers that are used to add information to sentences, the absolute phrase may be the least common but one of the most useful. Identifying Absolute Phrases An absolute phrase is a word group that modifies an entire sentence. It consists of a noun plus at least one other word, as shown here: The hunters rested for a moment in front of the shack, their breaths white in the frosty air. The noun (breaths) that begins this absolute phrase is followed by an adjective  (white) and a prepositional phrase (in the frosty air). In addition to adjectives and prepositional phrases, adverbs and participles can also follow the noun in an absolute phrase. As the sentence above shows, an absolute phrase lets us move from a description of a whole person, place, or thing to just one or more parts: from hunters, for instance, to their breaths. Building and Arranging Absolute Phrases Consider how the sentence might be broken down into two sentences: The hunters rested for a moment in front of the shack.Their breaths were white in the frosty air. The second sentence can be turned into an absolute phrase simply by omitting the linking verb were. As we have seen, the absolute phrase may appear at the end of a sentence: The hunters rested for a moment in front of the shack, their breaths white in the frosty air. The absolute phrase may also appear at the beginning of the sentence: Their breaths white in the frosty air, the hunters rested for a moment in front of the shack. And occasionally an absolute phrase is positioned between the subject and verb: The hunters, their breaths white in the frosty air, rested for a moment in front of the shack. Notice that an absolute phrase, like a participle phrase, is usually set off from the rest of the sentence by a pair of commas. NEXT: Revising Sentences with Absolute Phrases

Assumptions and Contribution of the Strategic Choice Theory Essay

Assumptions and Contribution of the Strategic Choice Theory - Essay Example The researcher states that the use of the strategic choice analysis also contributes to helping the organization and its management in optimally utilizing the existing resource base to gain needed a competitive advantage. The organization would thus become ready to potentially adapt to the external changes in the technological, social and politico-economic environment. Further, the aspect of strategic choice also highlighted the need for generating an effective interrelationship between the organization and the managerial framework. It aims to effectively integrate the organizations and its individuals in that the same contributes to a generation of the right strategic choice to exploit the existing resource base in a generation of needed competitive potential. It thus endeavors to reduce the aspect of tension both relating to the internal and external organizational framework which in turn enhances its efficiency to counter changes in the external environment. Strategic Choice Theor y relates to the actions or roles played by organizational leaders in making concerned choices to enhance the competitive advantage of the business organization against external political, demographic, social, economic and technological changes. Further, the strategic choice theory is also observed to generate tension relating to agency and structural elements. The relation of an agency to structure and further to the external environment makes the theory of strategic choice more dynamic and applicable to different settings. This reflects that the strategic choice theory not only serves the competing needs of the organization but also tend to depict an evolutionary approach based on external needs and changes. Strategic Choice Theory also reflects on the manner in which the business organizations gradually adapt to the changing needs to help gain needed a competitive advantage. The concept of ‘Strategic Choice’ relates to the process through which the authoritative bodi es in an organization tend to incorporate to help in taking of strategic actions.

The adoption of common language poilcies in companies Essay

The adoption of common language poilcies in companies - Essay Example It tends to spawn behaviors and emotions resulting to inefficiencies and poor collaborative efforts hence, leading to poor performance and low company productivity. These inefficiencies tend to be overlooked since the companies direct their attention to the benefits of linguistic integration in order to fit in the globalizing market. The main reason English is being adopted fall under the pressure from the external global players who seem to be well equipped with the English language and its application in the business field. In addition, there is too much diversification of tasks related to a company among countries. If the corporate goals rely on departments within different countries that are working harmoniously, language becomes a significant element. Implementation of language mandate has revealed challenges in the transition from diverse languages to a common language2. The experience that employees have had when working using another language or engaging with a non-native speaker has proved difficult. GlobalTech, FrechCo, Global Moves, Carco and ChipCo are some of the companies that have tried or rather have implemented the language mandate. All of the companies are from different countries of origin; Germany, French, Japanese, United States and United States respectively. The language mandate was put into test, and the impact analyzed that shows that it resulted to psychological and emotional impacts to the employees3. GlobalTech introduced English to the German Employees, and this resulted to ineffective communication. FrenchCo had employees who were non-native speakers who were originally from France, but experienced challenged in having to communicate in English since some lacked sophisticated language skills. The same case is evident for GlobalMoves, Japanese Company where much time was wasted in a task that could have been done easily. For

History Of Skills Demonstrations Children And Young People Essay

History Of Skills Demonstrations Children And Young People Essay There have been many theorists which have influenced todays early childhood education. From as early as 1698 with John Comenius to the most mentioned Jean Piaget in the 1920s? John Comenius was one of the first producers of the childrens picture books. Comenius paved the way for subsequent development in education. His understanding of learning through the senses and of the holistic nature of learning remains the cornerstone of educational theories today. Friedrich Froebel also believed that teachers should not teach by rote but should encourage self-expression through play. He believed that the education of young children was a vital part of their development as individuals. Froebel was the 1st theorist to articulate a theory on how children learn and gave detailed instruction for putting this theory into practice. This was the first teacher training programmer for young children. Rudolf Steiners theory is centered on all aspects of growth and development, which included spirituality. He wanted to create an education which gave children a balanced experience. The teachers attempts to engage the childs whole being in what they do, in as an artistic way as possible, by providing a warm and joyful environment in which the child can feel nurtured and at east, happy to explore and play, be busy and be still. The room is painted and in a warm colour has few hard rectangular corners, and is often furnished with soft muslins to mark off a different area or draped over a window to give a softer quality of light. The quality of sound is that of human voices rather than of mechanical toys. The materials in the room are natural and are at childrens level and are stored in aesthetic containers such as simple baskets or wooden boxes which may themselves be incorporated into the play (Drummond, MJ. Lally M. And Pugh, G. (EDS) (1989) Page 59) (Working with Children: Developin g a Curriculum for Early Years). This theory and concept of teaching has influenced many types of early learning frameworks and curriculums. But his belief in the non-introduction of print to children prior to the age of 7 years remains a controversial part of his theory. As we are aware today, young children have a huge understanding of print, not just from books but from their environment. Maria Montessori was one of the most influential theorists. Her aims were to harness childrens natural ability to learn and then offer defined experiences and materials to explain abstract principles. She wrote the child can only be free when the adult becomes an acute observer. Any action of the adult that is not a response to the childrens observed behaviour limits the childs freedom (cited by MacNaughton in Shaping Early Childhood) (Open University Press, 2003). She developed a range of equipment and materials to help develop the childrens daily living skills such as number concepts, language development, education of senses and exploration and science. Today these methods are still widely used and have been some of the most popular methods of early childhood education in the modern day. Jean Piagets theories dominated developmental psychology in the 1960s and 70s. Like Sigmund Freud, Piaget identified stages of development but while Freud concentrated on the emotional and sexual development, Piaget focused on intellectual development. He identified these 4 stages as Stage 1: Sensorimotor, which was between the ages of 0 2 years. Stage 2: Preoperational, came from the age of 2 to 6/7 years. Stage 3: Concrete Operational, identified itself at age 7 years to 11 years. The final stage, Stage 4: Formal Operations, begins at the age of 12 and continues through into adulthood. His theories were covered during teacher training and influenced the education of young children during the 1970s. Today his theories are still taught but as part of a range of theories. He was created a sense of curiosity about how children learn but his emphasis on logic mathematical thinking resulted in his experiments being over-generalised from a narrow range of subjects. His theories were most influential to the modern curriculum of Highscope. ACTIVITY 1 A Using Highscope within the creche, I can identify many features from Steiner, McMillan, Froebel, Piaget and Melanie Klein. Froebel theorised about the importance of outdoor experience. In our creche we ensure that all the children get outside to play every day. This is an important part of the daily routine, Froebel emphasised nature walks and gardening. The creche has limited outdoor space and the children have plenty to play with, which encourages their gross motor skills. Because of the safety flooring, we have little aspects of gardening outdoors. Melanie Klein believed that children use play to express and show their experiences. This is emphasised within the creche as the majority of the childrens learning/teaching is play-based and to manage challenging behaviour, we re-enact situations through play scenarios, i.e. puppets or stories. But we do not single children out, only observe them in group situations. BC Rudolf Steiners theory concentrates on the child as a whole, balancing the childrens experiences. I can see through observations and toy selection that this is the thesis of our creche. As a supervisor, I see every child as unique. They may go through particular stage but not always at the same time! Each child needs to have positive and constructive experiences which develop their mind, emotions and will. We allow the children freedom of choice and support needed to help them make those choices. With group-time we give them the freedom to speak which builds self-worth and their listening skills. We encourage them to problem-solve which builds their confidence and teaches them patience and respect. But unlike Steiners belief in not introducing them to the printed word, we show the books and flash cards from the babyroom up! McMillan brought the importance of hygiene and nutrition to the forefront. Within the creche we encourage the children to be aware of self-care. Through role-play and story time, we show the children the importance of cleaning hands and face, of brushing their teeth and self-grooming. This is also taught to them through example (staff washing hands regularly, etc.). The creche has a daily well balanced and nutritious menu for the children. We liaise with parents to show them the importance of well balanced meals. Maria Montessori had many contributions to creche curriculum but the one I see regularly in our creche is her theory and observations. The creche revolves around observing the children and planning their routines around that. Adults need to see what the children are interested in and how to enhance that so that their experience is full! Also when observing the children staff can see problems or issues which arise through play situations, i.e. social issues, developmental delays or problems. But we do not use any of the Montessori equipment as we use as much natural material as possible. D Although I can see concept from each theorist, I feel that Steiner/Piaget theories would be the most influential with the creche. Steiners theory about development of the child as a whole person is strong and his emphasis on the importance of play and imitation play a large part in the creche. Piagets theories of development were very influential to the Highscope approach which is used throughout the creche. PART 2 Children love to play! It is an important part of their development. Play offers children the chance to be in control and to feel both confident and competent within relevant and open-ended experiences which are meaningful to them. It helps children make sense of the world around them. Children gain an understanding of their emotions. When children play it involves the exploration of ideas, feelings, relationships, materials and their environment. Play encourages creativity and imagination, and offers the children a chance to explore at their own pace and developmental stage without restriction or expectations. There are different types of play which can overlap and lead into each other. These are symbolic play: The child can use this type of play to reinforce, learn about and imaginatively alter painful experiences. Children mimic parents or pretend to be heroes theyve seen on T.V. or read in a book. This type of play helps children cope with fears. Expressive play: This gives children opportunities to express their feelings by using many different types of materials. Physical play: This has a large social aspect to it because it generally involves other children and it provides exercise which is essential for normal development. Dramatic play: This can be spontaneous or adult-guided. The children act out situations which they feel may happen or are fearful of or may have witnessed. Manipulative play: This starts in infancy. Children control and manipulate their environment and people around them. Children manipulate and move objects to better understand how they work. Familiarisation play: This is when children handle materials and explore experiences in an enjoyable way. Surrogate play: This is when an incapacitated child watches and enjoys through other children or adults. Therapeutic play: This is guided play used by professionals to help children understand their feelings and show them through play. There are three main stages of play which are: (0 2 years) Solitary Play where a child plays alone to explore. (2 3 years) Parallel Play where a child will play alongside other children but not join in. (3-5 years) Sharing Play where children co-operate and use conversation when playing games. This also involves children taking turns and using imagination. Our role as Early Years workers is to facilitate and support each child in play. Through observing practitioners can plan for play. Planning a daily routine and planning the environment around the childs play is important as through planned play a practitioner can best support the children. No matter the age group of the children they need adult support during play. By talking to the children about their play, recognising and supporting their choice of play (without interference) gives children a sense of competence and self-worth. Only participate in childrens play when invited or if you can help them develop the skills of playing. Practitioner can also support by acting as mediator teaching children skills such as problem solving and to be respectful of others feelings. Practitioners knowledge of equality and diversity will protect children from harm in play intervening in satiations that could be potentially harmful for children. Further to practitioners planning and supporting them also need to review play. Observing the children during play can show how the equipment materials and the environment is supporting or maybe hindering the childrens abilities to continue or to progress in the play. Children today are growing up in a society where they are over-protected and parents are fearful of allowing them to play outside and explore houses are made so safe that children are stifled in their development. Things that we did to have fun and play developed our gross motor skills. We problem solved situations so as to stay out longer but today children have a lot of house based games such as PlayStation, etc., which are generally play solely and are intellectually based. I think children coming to an Early Years setting enjoy playing. Having materials and space which is suited and facilitates their interests, means they can express themselves freely and helps them explore and understand the ever changing world around them. As Froebels theory highlighted, children should be allowed to be children and enjoy the things that children enjoy. 1) What is the current framework available in Ireland? Siolta and Aistear are the most recent frameworks developed by the Centre for Early Childhood Development and Education (CECDE). Now the responsibility of Sioltas implementation lies with the Department of Education and Science. Aistear is the Early Childhood Curriculum Framework. 2) What will the Framework for Early Learning do? Siolta focuses on all areas of quality within ECCE settings for children aged from birth to six years old. Aistear plays its part in giving children opportunities to learn based on their interests, strengths, culture and specific needs. 3) Who will the Framework be for? The framework covers children from birth to six years old. This includes all Early Years settings, childrens own homes and infant classes in primary school. 4) How does the Framework consider the children? Our society today has become more diverse. In allowing the children to learn to their abilities. It will give them quality interactions with other children and an enriched environment that encourages play indoors and outdoors, adult/child interactions, exploration, conversation and observation. 5) What themes are included in the Framework? a) Well-being b) Communication c) Exploration and thinking d) Identity and belonging 6) What are Siolta and Aistear? 7) How can you as an Early Childhood Supervisor promote a quality Framework in your service? Introducing the National Framework to the service involves educating both the staff and the parents. Training the staff and supporting them as a supervisor with the transition is very important. Aistear will broaden the range of strategies the staff will have for interacting with the children. Introducing new assessments and methods which will progress the childrens learning across the curriculum. The staff must support the children in the learning experiences by observing, listening and interacting, when invited by the child or if intervention is required. The involvement of the parent is essential. To help them understand the benefits to the children of quality play time and helping them understand the limitations paperwork can have with children, as most parents like to see their childrens progress through pictures or writings. The introduction of project books for the children as a group and as individuals is a great way to review activities and allows the children express themselves through pictures and photos. PART 4 Highscope and National Curriculum The curriculum used at my service is Highscope. This was developed by Dr. David Weikart to serve children at risk of failing school. It originated in the USA in 1962 and is now used in many countries around the world. It can be used throughout the childcare setting with children aged from birth to six years. Staff encourages children to become decision makers and problem solvers. This helps them to develop skills that enable them to become successful students as they grow and progress through school. The central principles are given through a Wheel of Learning. At the centre the active learner (the child) and surrounding that the principles that will support the child while learning these are adult/child interaction: learning environment: daily routine and assessment. These give staff and management a base on how to provide an environment and daily routine that will enrich a childs experiences within my service. My vision is to have a quality service that children will run into every morning with smiles on their faces and at the end then to watch them become fully rounded, capable children as they make the transition to national school. I want my staff to enjoy coming to work, feeling satisfied that they have made a difference in each childs life. That they have helped each child reach their full potential and have positive experiences in the setting. I want parents to feel secure in entrusting their children to my service, that they know that their children will be nurtured and encouraged positively during every step of the day. They feel still included in every part of their childrens day, even while they are away from them. I feel that the new National Framework can slot in easily to a service that is High scope-based, as there are a lot of similarities. Aistear curriculum can be used during a Highscope daily routing as both are play-based, learning and emphasise the value of observations to plan routines and activities. Because of this, I feel the transition to national school should be smooth. The children have built up the abilities to problem solve and make decision and choices for themselves. This builds confidence both socially and academically. I feel the largest problem for children when progressing initially to national school is more social than academic and if a child is confident, self-aware and happy in themselves, the transition can bring more positive experiences than negative which sets a good base for a child to progress successfully as a student.

Harnischfeger Corp Essay

I. Introduction In 1984 Harnischfeger Corporation was a leading producer of construction equipment. During the decade of the 1970s the company experienced tremendous growth. Annual sales grew from $150 million in 1970 to $646 million in 1981. However the company began to experience financial trouble in 1979. This was caused by a variety of factors: the company wasted a large amount of resources on an unsuccessful merger, the government of Iran defaulted on a $20 million order of equipment after the fall of the Shah, and the U.S. economy was in a period of recession with double digit rates of inflation. The company posted an operating loss in 1979 for the first time since 1938. The company’s financial difficulties continued until 1984. At this time management decided that restructuring was necessary if the company wanted to survive. (Harnischfeger, 1985) II. Restructuring Strategy The overriding objective of restructuring the company was to return to sustained profitability. The goals of the plan were four-fold: managerial/personnel changes, production cost reduction, change in overall business focus (e.g. in foreign joint ventures, and high technology areas), and a restructuring of debt (Palepu, 2000). The new executive position of Chief Operating Officer was created. Two new members of the executive team were hired in order to help push the company in a new strategic direction. As a result, engineering, manufacturing, and marketing divisions underwent significant changes in order to cut costs and reorient the company’s product offerings toward more profitable markets. (Palepu, 2000). The company started to focus its business on more overseas markets, where demand for mining and construction equipment remained strong. A relationship was established with Kobe Steel, Ltd., in which Harnischfeger agreed to source all of its construction cranes for sale in the US through the Japanese company. In addition, a contract to sell $60 million worth of mining shovels was entered into with the People’s Republic of China (Harnischfeger, 1985). Lastly, the company restructured its debt into three-year loans that required the company to maintain certain levels of cash, receivables, and net worth (Palepu, 2000). Accounting Strategy The new management at Harnischfeger implemented aggressive changes in accounting policy in an effort to make the company appear more profitable. The major areas in which accounting policy was substantially effected were in: changes in depreciation methods on assets, the use of LIFO liquidation in inventory valuation, the restructuring of the employees’ pension plan, a change in the way some types of sales were recognized, and a change in the fiscal year for foreign subsidiaries. (Palepu, 2000). In addition, management significantly altered the percentage of sales allocated to allowance for bad debt. Analysis shows that management exercised a great deal of flexibility allowed under GAAP in order to raise net income for 1985. Motivation for Accounting Strategy The new management has two long-term goals in mind. First, to increase the company’s presence in high-tech areas such as aerospace and pharmaceuticals and second, to make the company more global. These goals seem to require the company to pursue an aggressive earnings management strategy. In the short term the company needs joint ventures to survive. These joint ventures will provide Harnischfeger access to many new foreign markets and could be a potential source for cheaper labor. Effective earnings management could convince partners like Kobe Steel to be more receptive to investment in Harnischfeger. In addition the company needs cash to be able to participate in joint ventures that may require cross investment to build factories, hire foreign employees etc. Cash is also needed to invest in high tech industries which usually require large capital outlays in research and development. Management had strong motivation to show a profit in 1984. First, the company was preparing for its 100th anniversary celebration, and therefore needed a quick turnaround. As trivial as it sounds, this consideration probably sped up the timetable to recovery via aggressive accounting policy. Second, and more tangible, the restructuring plan included a provision which would award top executives an additional 40% of their base salary if the company achieved its financial goals for the year. Amazingly, management could receive another 40% of salary if the company outperformed those goals! III. Accounting Changes Effect of change in Sales Calculation Effective November 1, 1983, Harnischfeger incorporated products purchased from Kobe Steel, Limited and then re-sold by the company, into its net sales. During previous accounting periods, only the gross margin on these products was recognized as sales. As a result, both aggregate sales and cost of sales increased by $28 million. This accounting change did not have material impact on the overall net operating income as stated in the financial statement, however, it did have an influence on the quality of earnings, which is reflected by profit margin. Profit margin dropped to 1.44% from 1.55%, reflecting a 7.1% change in profit margin, after such a change was in place. The management claimed that this change â€Å"reflected more effectively the nature of the Corporation’s transaction with Kobe,† (Palepu, 2000, p.3-39) and we agree with the management’s view for two major reasons. First, Harnischfeger was operating in a macro business environment in which the company had to significantly reduce cost to survive. Outsourcing, an effective way of transferring production cost to more effective producers, could make the Harnischfeger focus on its core strength in product development capability and high brand power penetration. Second, Harnischfeger did phase out its own manufacture of construction cranes in Michigan and enter into a long-term agreement, under which Kobe would supply construction cranes. Also, effective November 1, 1983, Harnischfeger adjusted some subsidiaries’ ending period to September 30 instead of the previous ending July 31. This had the effect of lengthening the 1984 reporting period for these companies from 12 months, to 14 months, and increased sales by $5.4 million. Assuming these companies had the same profit margin as the parent, the change increased cost of sales by $4.3 million. We agree that the influence on net income is immaterial and that this change reflects more effectively the subsidiary’s business operation. But it does represent a one-time event which should be corrected for during analysis of the company’s potential for future profitability. Effect of Changes in Depreciation Method In 1984, Harnischfeger changed its depreciation policy for financial reporting purposes to a straight-line method from a principally accelerated method. A net income of $11 million was realized for 1984 when the straight-line method was applied retroactively to all assets depreciated under the accelerated method. The management viewed this as an approach to match the company’s standard with that of industry peers. We agree with the management in a way that this approach provides comparable standard. However, the timing of this action is questionable. This approach artificially improved the company’s financial strength in the short run and helped Harnischfeger negotiate its debt restructuring process with bankers. In the long run, however, the straight-line method will reduce profit in the years to come. Also, it was too aggressive to realize this income just in a one-year period, which reflected the incentive for management to achieve profit. In addition, Harnischfeger extended its estimated depreciation lives on certain US plants, machinery and equipment, and increased residual value on certain machinery and equipment. These changes resulted in an increase of $3.2 million in net income in 1984. Again, this reflected incentive for profit realization. The then-current high interest rate environment was supportive for residual value upward-adjustment, however, there were great risks involved. First, interest rate was on a down-trend after it peaked in 1982. Second, the liquidity of Harnischfeger machinery, for heavy-machinery manufacture, was low. Also, extension of depreciation lives would increase the maintenance costs and reduce profit in the years to come. Therefore, we suggest that Harnischfeger’s depreciation policies be closely watched when the economic environment changes Effect of LIFO Inventory Liquidation Harnischfeger reduced its inventory level in 1984, 1983 and 1982, resulting in a liquidation of LIFO inventory. This liquidation process led to gains when inventory, acquired at a lower cost in the earlier years, were sold at a higher price, resulting from higher inflation. Net income in 1984 increased by $2.4 million (in the form of gains), and liquidity was improved on the balance sheet. We view this as a sound business decision when the management can reduce operating cost by decreasing inventory level. Effect of Changes in Allowance for Doubtful Accounts Harnischfeger, for some reasons, adjusted its allowance for doubtful accounts to 6.7% of sales for 1984 from 10% of sales in 1983, resulting in $2.9 million in operating income for 1984. The company might try to increase sales by aggressively extending credit to doubtful customers, risking losing all of relevant sales. This is very skeptical as Harnischfeger gives no explanation. Effect of Changes in R&D Expenses Harnischfeger significantly cut its research and development expenses to $5.1 million in 1984, from $12.1 million in 1983 and $14.1 million in 1982. In 1984, operating profit was pumped up by $9.1 million when Harnischfeger didn’t follow the same level of R&D activities in 1983, reflected in the percentage of R&D as of sales. This is controversial to management’s strategy of focusing on the high technology part of its business and will damage its strength in the future. We conclude, therefore, that the management managed to increase profit by reducing R&D expenses on purpose. Effect of Changes in Pension Plan The company states, in the footnotes of its 1984 financials, that its salaried employee pension plan was well over-funded. The policy of Harnischfeger was to â€Å"fund at a minimum the amount required under the Employee Retirement Income Security Act of 1974.† (Palepu, 2000, p.3-38) This probably meant, in light of recent financial difficulties, that the company intended to fund at the minimum. Over-funding most likely came about as a result of the company reducing its workforce by about 45% in 1983. Harnischfeger terminated its Salaried Employee Retirement Plan in 1984, and created a new plan. This new plan included in increased minimum pension benefit, which probably served to make the pension restructuring more appetizing to employees. Cash resulting from the liquidation of the original plan was divided into two groups: $36.7 million went toward purchasing individual annuities in order to cover the obligations of the original plan, and $39.3 million went into an account called â€Å"Accrued Pension Costs†¦[to be] amortized to income over a ten-year period†¦Ã¢â‚¬  (Palepu, 2000, p.3.42) This pension plan change has three significant effects on the financial statements. First, pension expense was reduced in 1984 by $4 million. Second, net income increased by $3.9 million. Third, and most importantly, the company was able to show a positive cash flow for the year. Without this one-time injection, cash flow would have been ($7.6 million). Bottom Line: Financial Performance, Net of Accounting Changes The purpose of our analysis is to arrive at an estimated net income based only on the company’s core operations. That is, to determine its financial health without the distraction of one-time events and earnings management. The first step is arrive at a revised sales figure. The next step is to construct a table summarizing our estimation of Harnischfeger’s net income, net of the effects of all the accounting policy changes: Note that our analysis has tax-affected the result of changes in the fiscal year of subsidiaries, and the annual amortization amount for pension fund gains. Critique of Accounting Changes Our issue is not with the fact that Harnischfeger management now has an aggressive accounting strategy and is engaged in earnings management. Indeed, it seems perfectly reasonable to bring all subsidiaries under one fiscal year timetable. This will result in administrative efficiency. Also, the change in recognition of costs and revenues of Kobe Steel equipment is logical. Next, the company claims that all changes in depreciation policy are made to conform with other manufacturers in the industry. Further, the pension plan restructuring was authorized by the Pension Benefit Guaranty Corporation, and we have no other sources of information which cast the move in doubt. It seems logical that cutting the number of employees by 50% should cause a similar change in pension plan funding. In short, these accounting changes may be largely justifiable even though they represent aggressive earnings management. We do take issue with the fact that all of these accounting changes occurred in one year. That is, it seems suspicious that financial stability is neatly restored just in time for the 100th anniversary of the company, when executives stand to make an additional 80% of their salaries if goals are surpassed. As further proof of the validity of this concern, we see a contradiction between the decrease in R&D spending, and the company’s new strategy to explore different high technology product lines and services. Further, extension of depreciation lives for plant and equipment seems like a shameless way to increase net income. Finally, a dramatic decrease in the percentage allowance for doubtful accounts is difficult to justify, especially in a period of rising receivables. In conclusion, it seems that the company is taking a huge risk by betting that this one-time boost in income and cash will allow the company to successfully expand internationally and grow in new high tech areas and become profitable once again. IV. Financial Outlook Rather than a full recovery, it seems 1984 performance may be simply an aberration. Management cannot hide the effects of operations inefficiencies and uncooperative markets for long. We are encouraged by the fact that our estimated net $.41 loss per share far outshines the 1983 loss of $3.49. But we expect to see a negative cash flow in 1985, brought on by the absence of the one-time pension plan change. Contributing to this is a high balance in accounts receivable, which rose by 37.5% from 1983 to 1984. And at the onset of a decreasing interest rate environment, we expect the company to be burdened with high interest expense well into the future. Note, too, that the aggregate effect of the changes in depreciation policy will mean higher depreciation costs in future years. This, coupled with higher maintenance costs as equipment ages, will mean significantly higher operating costs. Finally, we expect the company to show a loss for 1985.