What Is the Most Reactive Metal on the Periodic Table

The most reactive metal on the periodic table is francium. Francium, however, is a laboratory-produced  element and only minute quantities have been made, so for all practical purposes, the most reactive metal is cesium. Cesium reacts explosively with water, though it is predicted francium would react even more vigorously. Using the Metal Activity Series You can use the metal activity series to predict which metal will be the most reactive and to compare the reactivity of different metals. The activity series is a chart that lists elements according to how readily the metals displace H2 in reactions. If you dont have the chart of the activity series handy, you can also use trends in the periodic table to predict the reactivity of a metal or nonmetal. The most reactive metals belong to the alkali metals element group. Reactivity increases as you move down the alkali metals group. The increase in reactivity correlates to a decrease in electronegativity  (increase in electropositivity.) So, just by looking at the periodic table, you can predict lithium will be less reactive than sodium, and francium will be more reactive than cesium and all of the other elements listed above it in the element group. What Determines Reactivity? Reactivity is a measure of how likely a chemical species is to participate in a chemical reaction to form chemical bonds. An element that is highly electronegative, such as fluorine, has an extremely high attraction for bonding electrons. Elements at the opposite end of the spectrum, such as highly reactive metals cesium and francium, readily form bonds with electronegative atoms. As you move down a column or group of the periodic table, the size of the atomic radius increases. For the metals, this means the outermost electrons becomes farther away from the positively-charged nucleus. These electrons are easier to remove, so the atoms readily form chemical bonds. In other words, as you increase the size of atoms of metals in a group, their reactivity also increases.

The Civil Rights Act Of 1964 Essay - 1444 Words

The Civil Rights Act of 1964 was significant to African Americans because the act ended segregation in public places and ended employment prejudice based on the pigment of skin, national origin, gender, ethnicity, or/and religion. The Act was one of the most momentous events to impact African Americans on the account of bringing equality to minorities on paper and giving them opportunities to voice their political and community concerns. However, there were unforeseen consequences that added to the suffering of the community which they expressed through riots and protest marches in efforts to ensure their new protections were enforced. The advancement of the Act helped the African American civil rights group in their awareness and voice in government, made tremendous strides in their group, and contributed to other minorities to gaining equality. The Civil Rights Act of 1964 affected African Americans both positively and negatively through federalism, minority rights, and judicial re view. Federalism is a system of government where the states share power with the national government creating three levels of government, local, state, and national. The Civil Rights Act has flourished through federalism because if state laws are ratified that contradict national civil right laws, the national government can pass specific laws to banish the discrepancy. Federalism and the federal law that protects the civil rights of minorities, is what ended de-jure segregation, theShow MoreRelatedCivil Rights Act of 19641840 Words   |  8 PagesBefore the Civil Rights Act of 1964, segregation in the United States was commonly practiced in many of the Southern and Border States. This segregation while supposed to be separate but equal, was hardly that. Blacks in the South were discriminated against repeatedly while laws did nothing to protect their individual rights. The Civil Rights Act of 1964 ridded the nation of this legal segregation and cleared a path towards equality an d integration. The passage of this Act, while forever alteringRead More Civil Rights Act of 1964 Essay1338 Words   |  6 Pages The Civil Rights Act of 1964 resulted from one of the most controversial House and Senate debates in history. It was also the biggest piece of civil rights legislation ever passed. The bill actually evolved from previous civil rights bills in the late 1950’s and early 1960’s. The bill passed through both houses finally on July 2, 1964 and was signed into law at 6:55 P.M. EST by President Lyndon Johnson. The act was originally drawn up in 1962 under President Kennedy before his assassinationRead MoreEssay on Civil Rights Act of 19646131 Words   |  25 PagesThe Civil Rights Act of 1964 Danielle Endler Human Resources 4050, Spring 2013 Semester Professor David Penkrot May 3, 2013 The Civil Rights Act of 1964 is considered by some to be one of the most important laws in American history. (The Most Important Cases, Speeches, Laws Documents in American History) This Act was signed into law by President Lyndon B. Johnson on July 2, 1964 and it is a â€Å"comprehensive federal statute aimed at reducing discrimination in public accommodations and employmentRead MoreThe Civil Rights Act Of 1964879 Words   |  4 PagesPresident John F. Kennedy s New Frontier programs, Johnson wanted to expand civil rights and wage war on poverty. More than fifty years later, the effects of the Great Society on American life can still be felt. Civil rights fell under the scope of Johnson s Great Society programs. Johnson signed the Civil Rights Act of 1964, a law that ended discrimination in the US at all levels of government. Without the Civil Rights Act of 1964, blacks and other people of color would not have the opportunity to runRead MoreThe Civil Rights Act Of 1964925 Words   |  4 PagesAmericans and even immigrants are afforded their basic civil rights based on the Civil Rights Act of 1964. The act, which was signed into law on July 2, 1964, declared all discrimination for any reason based on race, color, religion, sex, or national origin will be deemed illegal in the United States (National Park Service, n.d.). When the act was enacted, people had to become more open minded; more accepting to the various cultures and backgrounds of individuals. Understanding that concept leadsRead MoreThe Civil Rights Act Of 1964848 Words   |  4 PagesVII, Civil Rights Act of 1964, followed by a brief description of person al experiences involving discrimination, and concluding with a reflection as to how the American workforce is protected by law. The writing will cover any ethically related issues, personal thoughts and ideas, and illustrations of how the law pertains directly to personal events, as well as provide direct links to any and all reference material covered under the purpose of this writing. Title VII, Civil Rights Act of 1964 TheRead MoreThe Civil Rights Act Of 19641702 Words   |  7 Pagessubject to, and the subject of, discrimination. The Civil Rights Act of 1964 originally did not include gender in the bill’s wording. Were it not for a backhanded comment made in jest by a backward congressman, women would not have been afforded equal rights protection in employment (Freeman, 1991; 2004). President Harry Truman inaugurated the legal Civil Rights Movement. Though people of color had long been yearning and fighting for their rights, President Truman began this legal process nationallyRead MoreThe Civil Rights Act Of 19641106 Words   |  5 Pages†(Cassanello). The Civil Rights Act of 1964 was the most influential event in the Civil Rights Movement because it paved way for ending discrimination and segregation, and giving more rights to African- Americans. During the Civil Rights Movement African- Americans were fighting to get their rights that were being taken away from them little by little. Starting in 1955 and going well into the late 1960’s early 1970’s, African- Americans started to protest against discriminatory laws and acts such as JimRead MoreThe Civil Rights Act Of 1964880 Words   |  4 Pagesbetween conflicting viewpoints are still being faced by Americans today. (Tiona/Claire) Equality for African Americans has made remarkable progress since the approval of the Civil Rights Act, but discrimination continues. A significant step towards racial equality was the Civil Rights Act of 1964, proposed by John F. Kennedy. This act brought an end to segregation in public facilities such as buses, restaurants, hotels, and places of entertainment. It also banned employment discrimination on the termsRead MoreThe Civil Right Act Of 19641072 Words   |  5 PagesTitle VII of the Civil Right Act of 1964, and both under the Disparate Treatment and Disparate Impact. Dunlap feels that he has been discriminated during the interview process. The district court concluded that TVAs subjective hiring process permitted racial bias against the plaintiff and other black job applicants. Tennessee Valley Authorities was found guilty of discrimination against the plaintiff. The Title Vii of the Civil Right Act of 1964 enforces the constitutional right to vote, to confer

Loy Krathong Free Essays

THIS evening, as the Thai people go to the nearby rivers, khlongs or ponds to float their lotus-shaped vessels made of banana leaves, they will be evoking the spirit of the sacred past, with a blessing of a full moon. Of all the Thai festivals, Loy Krathong is perhaps one of the most ritualistic and colourful events, rich in religious and spiritual expression. A krathong normally comes with a candle, three-joss-sticks and some flowers. We will write a custom essay sample on Loy Krathong or any similar topic only for you Order Now Floating the krathong down the river during the high tide, and after the rainy season is over, not only signifies the attempt to purge evil or bad luck, but also represents an act of worshipping the Goddess of the water. Therein lies the influence of Brahminism. Brahmin rites cannot be separated from the traditional religious practices of the Thais. But ancient Thai beliefs and folklore also hold that there are higher spirits residing everywhere, in the rivers, the trees and the mountains. There are virtually no places on earth that are not, or have not been, occupied by ghosts or by gods.You are supposed to act with reservation and not to speak out loud when you are in a forest because you do not want to disturb the spirits. But in Western thought, a forest is nothing but a wilderness for man to conquer. For Bt3,800 a ticket at the Shangri-la Hotel, you can observe the delights of fireworks above the Chao Phraya River while having your favourite wine and food. Other Bangkok hotels, with an eye for the dollar, also go at top gear with their Loy Krathong gimmicks. This is an idle, if not rather expensive, way to let the Loy Krathong Day slip by without philosophising or without the trouble fighting the crowds on the riverbanks.Nowhere in Thailand is the Loy Krathong Festival held with more fanfare than at Sukhothai, one of the ancient capitals that lies about 450 kilometres north of Bangkok. Despite its past grandeur, and its Utopian characteristics, Sukhothai’s existence comes to the fore only once a year, at the time of Loy Krathong. For most of the year Sukhothai is far from the Thai consciousness, like the ruins of its past that are forever buried under layers of the earth. Reviving Sukhothai can only be done necessarily by popularising it, with modern lights and sounds aga inst the background of its decaying structures. But as the young girls, clad in exquisite Thai costumes, prepare to float their krathongs into the pond of the Sukhothai historical park in front of the thousands of visitors, they almost unconsciously might have formed an elusive image of the grandiose Noppamas in their imaginations. What Venus is to beauty for the ancient Greeks, Noppamas is beauty for Thais. And one way of popularising Noppamas is to immortalise her through the Noppamas Beauty Queen Contest, held not only in Sukhothai but elsewhere throughout the country.Legend has it that Noppamas, a beautiful lady of exceptional wit and charm, was the first to have devised the krathong in the 13th century. She served in the court of King Lithai, the grandson of King Ramkhamhaeng The Great. A favourite of the king, Noppamas was said to have raised court mannerisms and practices to a high order. The krathong she floated created a lasting tradition that is still observed today, though with different imageries. Now Loy Krathong is firmly connected with the worldly desires for material gains. Young Thai couples also find the festival auspicious enough to bind their love together.You will know a Thai girl’s boyfriend by waiting to see with whom she goes to float the krathong with. Little do the young couples realise, however, that once they float the krathong, which is supposed to hold their spirits together, they let go their destiny into the realm of the unknown. While most Thais know Noppamas by associating her with the Loy Krathong Festival, few have bothered to go back to read King Lithai’s Buddhist to gain a proper frame of mind. While his grandfather King Ramkhamhaeng was held as the inventor of the Thai written characters, King Lithai wrote Trai Phum Phra Ruang or †Sermon on the Three Worlds†.This masterpiece was recognised as a Thai version of the Divine Comedy, ranked in the same class as Dante’s. King Lithai’s †Three Worlds† do not represent the earthly, the infernal or the heavenly spheres, but account for the three Buddhist forms of existence of the sentient world. In this religious universe, there is the world of kama-loka, or the world of the five senses; the world of rupa-loka, or the corporeal world of the 16 celestial grades; and the world of arupa-loka, or the incorporeal world where the five senses cease to function.This treatise formed a doctrinal basis for King Lithai to lead his followers to redemption. Ancient Thais were given the vision of the various cosmic realms and their inhabitants, some of whom were confined to eternal damnations if they could not break away from their sins. Floating the krathong with King Lithai — not Noppamas — in your heart will get you closer to Dharmma. A shocking reality is now emerging that in spite of her immortality, Noppamas might not exist at all. Whether she is a historical person or a fictiona l character is a subject of controversial debate in the academic circle. But let the academics carry on their debate. Noppamas will continue to exist, for in Thailand histories and legends are mixed so intensely like moulding gold into a pagoda that the facts lie in the realm of introspection. Name†¦Mr. Setthawut Maneepathompong BA. English Batch 7/1 ID: 5353020414 First Love It is so hard to write you. Why am I doing it this way, not intending ever to send this letter, still with one eye to publication, a grand concept for a book in some sense, and still with one eye, that poets conscience, to a future which becomes increasingly impossible to imagine.It seems the only way I can bear the passion behind the language, the memory, the desire, the only way not to be burnt up by what I feel. You come over me in waves of memory, especially when I sleep, and I wake up in sweat and trembling, not knowing where I am, not remembering the years that separate us. So often I wanted to write, dear E, now I am this person, I look this way (you wouldn’t like it), I do this, I feel this, lists, details, it was warm or cold on that day when that happened and then my life changed in this way and that–but I cant, I never could, and I cant now.In writing this letter, not to be sent, perhaps I can find the signs that will tell you who I have become. Dearest E, I loved you. Now that love is memory, sometimes haunting, sometimes buried, forgotten, as if dead. I see yr face, yes, I know, as it was, I remember you as I remember the sun, always, burned in my brain; somehow you are part of me, mixed up in me, for all the days of my life. I left you when you were life to me, when to be physically separated from you was sheer and consuming pain, as if a limb had been cut off, ampu tated. Leaving you was the hardest, and perhaps the bravest, thing I have ever done. Dearest E, I want to describe in some way the drive to become that impelled me to go to you and to go from you, that has driven me from person to person, place to place, bed to bed, street to street, and which somehow coheres, finds cogency and true expression, when I say, I want to write, or I want to be a writer, or I am a writer. I want to tell you that this drive to become is why I left you and why I never returned as I had promised. I was 19 when I knew you. I wanted to be a writer. I didn’t want to go mad or suffer or die.I was 19. I wasn’t afraid of anything, or, as I sometimes thought, I was equally afraid of everything so that nothing held a special terror and no action that interested me was too dangerous. I wanted to do everything that I could imagine doing, everything I had ever read about, anything any poet or hero had ever done. I loved Rimbaud. I loved Plato and through him Socrates. I loved Sappho. I loved Dostoevsky, and sweet Shelley, and Homer. I loved cold Valery, and warm D. H. Lawrence, and tortured Kafka, and raging tender Ginsberg. I didn’t have questions in words in my mind.I had instead these surging impulses that welled up and were spent. I had a hunger to know and to tell and to do everything that could be done. I had an absolute faith in my own will to survive. What I didn’t want to do was to say, look I’m this height, and I went to school here and there, and then that year I did this and that, and then I knew so and so, and then the next one was so and so, and then this situation occurred, and then that one, and the room was red and blue and three by four, and then I was that old and went there and did that and then that and then, naturally, that. I wanted instead to write books that were fire and ice, wind sweeping the earth. I wanted to write books that, once experienced, could not be forgotten, books that would be cherished as we cherish the most exquisite light we have ever seen. I had contempt for anything less than this perfect book that I could imagine. This book that lived in my imagination was small and perfect and I wanted it to live in person after person, forever. Even in the darkest of human times, it would live. Even in the life of one person who would sustain it and be sustained by it, it would live.I wanted to write a book that would be read even by one person, but always. For the rest of human time some one person would always know that book, and think it beautiful and fine and true, and then it would be like any tree that grows, or any grain of sand. It would be, and once it was it would never not be. In my secret longings there was another desire as well, not opposite but different, not the same but as strong. There would be a new social order in which people could live in a new way.There would be this new way of living which I could, on the edges of my mind and in the core of my being, imagine and taste. People would be free, and they would live decent lives, and those lives would not be without pain, but they would be without certain kinds of pain. They would be lives untouched by prisons and killings and hunger and bombs. I imagined that there could be a world without institutionalized murder and systematic cruelty. I imagined that I could write a book that would make such a world possible. So my idea of my book that I would write sometimes took another turn.It had less to do with the one person who would always, no matter how dark the times, somewhere be reading it, and it had more to do with here and now, change, transformation, revolution. I had some idea of standing, as one among many, my book as my contribution, at one point in history and changing its course and flow. I thought, imagine a book that could have stopped the Nazis, imagine a life strong and honest enough to enable one to make such a book. I began to think of writing as a powerful way of changing the human condition instead of as a beautiful way of lamenting it or as an enriching or moving way of describing it. I had wanted to make Art, which was, I had been led to believe, some impeccable product, inhuman in its process, made by madmen, inhuman in its final form, removed from life, without flaw, perfect, crystal, monumental, pain turned beautiful, sweat turned cold and stopped in time, suffering turned noble and stopped in time. But I also wanted to write a book that could be smelled and felt, that was total human process, the raw edges left as raw as any life, real, with a resolution that took one to a new beginning, not separate from my life or the lives of the multitudes who were living when I was living.I wanted to write a book that would mean something to people, not to dead people past or future, but to living people, something that would not only sustain them but change them, not only enhance the world in the sense of ornament, but transform, redefine, reinvent it. When I knew you I was 19. I did not know many things. How could I? I wanted to make Art, and I had a passion for life, and I wanted to act in the world so that it would be changed, and I knew that those things nourished one another but I did not know how.I did not know that they could be the same, that for me they must be the same, for they all had to live in this one body as one or they could not live at all. The teachers I had had did not know or tell the truth. They did not care about how artists lived in the world. They seemed to find the lives of artists shoddy and cheap, even as they found works of art marble and pure. They never talked about art as if it had anything at all to do with life. They thought that the texts were there to be analyzed, or memorized, one after another.They thought that art was better than life, better than the artists who made the art and lived their lives. They had no notion of process, how one made something out of the raw impulses of the imagination, how one cried out or mourned or raged in images, in language, in ideas. So they taught that ideas were fixed, dead, sacred or profane, right or wrong, to be studied but not created, to be learned but not lived. They did not seem to know that the whole of human literature is a conversation through time, each voice speaking to the whole of human living. How to cite Loy Krathong, Papers

IFRS Implementation in Malaysia for Fair Value -myassignmenthelp

Questions: 1. Explain the concept and the underlying assumptions of fair value accounting according to IFRS 13 Fair value measurement.2. Review relevant accounting research literature on the use of fair value accounting post IFRS harmonisation in Malaysia and a minimum of three other emerging economies in the Asia-Pacific countries. 3. Compare the disclosures on the use of fair value accounting in the annual reports of four companies (two are Malaysian listed companies, and the other two are Australian companies) for the most recent financial year (2016).4.Discuss if your findings support (or reject) the view that the use of fair value accounting since IFRS harmonisation in Malaysia has improved the quality of information disclosure. Answers: Introduction International Accounting Boards aims at bringing harmony in recording and disclosures related to financial statements. IFRS once it was applied in Malaysia had to be harmonized such that companies experienced relatively lesser confusions relating the same. The scope of the following study deals with IFRS 13 deals with application of fair value accounting standards which companies needs to accommodate. It also evaluates concept and the underlying assumptions of fair value accounting according to IFRS 13 Fair value measurement. Accounting research literature on the use of fair value accounting post IFRS harmonisation in Malaysia and a minimum of three other emerging economies in the Asia-Pacific countries. It also analyses disclosures on the use of fair value accounting in the annual reports of four companies. In the end, the several benefits associated with harmonization of such fair value accounting standards are disclosed. 1. IFRS 13 Fair value measurement explains fair values that are set within single IFRS framework. Fair value needs disclosures pertaining to measuring of fair value for all assets(Paul, 2012). Fair Value Measurement was included and incorporated in IFRS 13 on May 2011, which sets a framework allowing measurement related to fair value and their disclosures to such measurements. International Accounting Standards Board (IASB) notion to enhance disclosure set for addressing valuation techniques and measurement of fair value led to such disclosures. In order to include consistent disclosure requirements Fair value 13 where price for selling or receiving an asset for transferring a liability within market participants at a measuring date in an orderly transaction is defined as a fair value. In order to understand the concept regarding fair value certain assumptions or considerations needs to be accounted for. While measuring for fair value its condition, location restrictions for sale needs consideration in regards to any sort of assets or liabilities. Market is the principal or most advantageous location where transaction related to any asset or liability can take place(Yaacob, 2012). In case of non-financial assets the best and highest use for it is considered when taken along with other assets or treated solely. The standards incorporates a hierarchy when arriving at fair value for any sort of asset. The first level is the unadjusted quoted price for identical liabilities or assets within an active market. In the second level observable inputs for liabilities or assets as quoted price for similar assets or liabilities in active market or for identical liabilities or assets in non-active markets. In the third level, observable inputs are developed for the entity by use of best information in cases of no market activity at a particular measurement date for the asset or liability(Ahmed, 2013). IASB establishes that there will be no new requirements set in fair value accounting but a guidance for fair value measurement for standards which are already in existence. There are hence no standard set from IFRS 13 in regards to transaction dealt, hence its application is related to measurement in particular to standards and not by scope of IFRS 13. It does away with all inconsistencies in various IFRS by means of a single source of guidance in regards to fair value. The standards requires detailed disclosure for helping financial statement users by providing valuation techniques along with inputs for measurement o f fair values. In case of fair value measurements, effects on their profit or loss or other comprehensive income for the period is understood(Marzuki, 2016). In case of any changes in liabilities or assets over a time period, unrealised losses or gains for the same outstanding, increasing or decreasing net income basis or as equity in balance sheet is determined. Historically fair value had separate significance and relation as compared to its current usage that reflects price related context. In case of IASB definition for fair value, it has been taken that price for selling an asset will be used in paying a liability. This price is the exit price, hence it is concentrated on market price with assumption regarding risks(Mohammed, 2015). Characteristics of an asset is taken into consideration for its sale or usage. In case fair value accounting did not existed then a business cannot base their argument for valuation relative to itself or unwillingness for selling at low prices. Prices used in this method are orderly transaction which include market transaction for a date that is not forced for activities to occur. In cases orderly transactions are not referred to then there might be emergence of competitors or more fluctuation in prices(Yang). Even in cases of few transactions the nature of orderly might not be followed. Therefore, it can be understood that in presence of competitive spirit, sufficient information along with time there might not be presence of fair value. IFRS 13 however does not include unit of account that needs to be accommodated for fair value accounting, which are presented to individual standards for determination of unit of account. Basic characteristics of an asset or a liability needs distinction from holding asset or liabilities of a business needs to be established(Phang, 2017). Fair value makes sure that transaction takes place in principal market place, in absence of which the most advantageous market for asset or liability is taken into consideration. Most advantageous market that can provide maximum value for the asset or liability is selected, which deals in high volume of such assets or liability. A business unit carries exhaustive research for understanding where all information is available. The standards provides a broad based technique which are on market, cost and income. It can he lp entail observable inputs into fair value process(Joshi, 2016). 2. Fair value according to the IFRS is used for measurement of multiple financial instruments. A financial instrument whether fair value will be recorded in companys financial statements. Fair value measurement complies with public reporting requirements for internal processes(He, 2012). Malaysia along with other Asia-Pacific countries including Japan, China and Indonesia have implemented fair value accounting in accordance to IFRS set procedures. Emerging economies in Asia-Pacific region have adopted IFRS 13, fair value accounting that can enable financial reports compatibility of companies around the world. Global investors assesses and reviews financial reports and their credibility based on IFRS laid down standards in regards to fair value accounting hence, it becomes essential to adopt the same for getting investors funds(Adibah Wan Ismail, 2013). First and foremost usage of adoption of IFRS fair value accounting standards is to get access to global funds. Apart from attracting global funds there remains various other usages for fair value accounting methods for assets and liabilities as discussed here. Such accounting standards enables investing, measuring or managing risks, trading decisions, determining capital allotment in lines of businesses and also for the purpose of calculation of compensation. Fair value disclosure ensures various benefits regarding financial liabilities and assets as against historical cost values. Faire values are true reflection of prevailing market conditions also in comparing values of financial instruments at varying times(Horton, 2013). Financial disclosures that makes relevant usage of fair values determines usefulness of financial reports. Fair value accounting standards are also often referred to as mark-to-market accounting norms. It is especially included in Generally Accepted Accounting Principles (GAAP) where companies report and measure value of liabilities as well as assets on their actual or estimated fair market price(Amirul, 2014). An unique advantage of using fair value accounting is its capability for accurate assessment of liabilities or asset valuation on an ongoing term to internal stakeholders of companys information. In case price for a liability or an asset is determined to be increased then the company marks up value for the asset or liability to its current market price for understanding what it could receive in case it sold asset or in case it itself pa id for the liability. The accuracy in valuation that is provided for liabilities or assets is the key advantage for fair value accounting on an ongoing basis(Kwong, 2010). As a company marks down the value of certain liability or asset in case there is a decrease in market price for the same or increases it in case there is an increase in its prices. This method allows disclosure related to true income, it limits a companys ability for manipulating its net reported income. Management sometimes purposely make use of certain asset sales for incorporating in gains or losses in its books of accounts form net income at a desired time. In fair value accounting procedure, gains or losses from such sales are generally taken into consideration only once it arises and not absurdly(Laili, 2008). Fair value accounting can also pose challenge to companies along with users of financial information. Fair value can often lead to challenges in companies and also to users of such reported financial reports. As fair value is taken into consideration by taking into account market prices which often fluctuates, there might be wrong reporting due to prevailing volatile condition in the market. Companies often apply market prices to existing assets and liabilities which creates huge swing in their balance sheets(Carlin, 2009). Then later when market stabilise these assets and liabilities prices drop leading to raising considerable rise in profits or losses. These temporary fluctuation in reporting reflecting temporary gains or losses for fair value accounting might provide information that are misleading at times. In times of down market fair value accounting can be very misleading and affect markets in an adverse manner. Revaluation of various assets at prices fixed in the market might lead to downward revaluation creating a depressed price, which could lead to selling of assets. In absence of fair value accounting, companies might not require to sell an asset in downmarket to prevent further devaluation of assets(Dutt, 2009). In absence of over selling pressure, downward asset prices might stop and markets can stabilise over a period of time. 3. Disclosure on the use of fair value accounting in the annual reports in listed companies of Malaysia is discussed as below. 7-Eleven Malaysia and Wonderful SME Sdn. Bhd. in Malaysia is taken into consideration. From Australia Wespac Bank and Wesfarmers Pty Ltd has been considered for the purpose of analysing fair value accounting standards(Gan, 2016). Malaysia has recently adopted IFRS standards, which has further implemented the fair value in its accounting norms and standards. Malaysian listed companies have recently adopted various significant disclosure norms for financial instruments and various asset classes. Malaysian listed companies needs to follow and comply with regulations provided in the Malaysian Accounting Standards Board (MASB) is adopting to fully implement IFRS in convergence with IASBs Standards. With new standards in IFRS 13 companies listed in Malaysia are implementing financial reporting model with marking-to-market system(Albu, 2014). Inspite of turbulences in financial markets, accounting professionals are resolving all misconceptions for fair value accounting. 7-Eleven Malaysia Holdings Berhad registered via Company No. 1058531-W has incorporated disclosures related its assets and liabilities. It consolidates a pre-combination carrying amounts with no adjustments for reflecting fair values(www.7eleven.com, Retrieved on 13th September 2017). It also recognizes new assets or liabilities on date of combination which would have been done in acquisition methodology. In case the group has any subsidiary then any loss or gain from aggregate fair value in connection to interests or controlling interests for reflecting changes directly in equity. It has evaluated any net assets also in accordance to fair value accounting standards. Wonderful SME Sdn. Bhd. has adopted fair value in all investments and hedging instruments as well. In case of any profits or losses, such are also recognised in accordance to requirements provided in the Malaysian regulations(assets.kpmg.com, Retreived on 13th September 2017). Cost of business combination and also all other costs are taken in accordance to fair value discloser requirements. It has adopted fair value model in all its evaluations. Australian Financial Reporting valuations delivers robust and accurate values that are comparable to International Australian Accounting Standards (IAS, AASB) as well as International Financial Reporting Standards (IFRS). While valuating plant, property and equipment within organisations, compliance are adhered to strictly(Hanefah, 2012). IFRS 13 that provides disclosure requirements with respect to fair value has comparable standards in Australian equivalent that is followed and referred to as AASB113-Fair Value Measurement. Companies that are listed in Australia needs to comply and they follow set of interpretations issued by AASB which are applicable in accordance to Corporations Act 2001. Wespac Bank and Wesfarmers are well known and accredited companies listed in Australia that stringently follows fair value accounting disclosures for all their assets as well as liabilities. Wespac Bank has adopted and complied with fair value accounting standards as specified in AASB(www.westpac.com.au, Retrieved on 13th September 2017). Wespac in case of foreign exchange hedges in accrual accounts term funding transactions reversed in deriving cash earnings by creating material timing. for all its securities it has adopted fair value for reflecting on profits or loss in securities. Wesfarmers Pty Ltd has also adopted fair value accounting according to AASB where applicable for sale of its assets(www.wesfarmers.com.au, Retreived on 13th Sepetember 2017). It has recorded market values wherever applicable to reflect on appropriate profit or losses for accounting period. 4. Malaysia has successfully incorporated fair value accounting standards in all its forms. Incorporation of IFRS in Malaysia has allowed companies to accommodate and include multiple norms and standards in regards to fair value accounting means(Halim Kadri, 2009). Currently companies in Malaysia, mostly that are listed make use of fair value in accounting for disclosing their valuation of assets and liabilities. This has been able to attract considerable number of investors, shareholders and other agencies to these companies as they now represent at par standards with rest of the world. With harmonization of IFRS accounting standards in Malaysia, quality of information disclosure has improved significantly. Generally accepted worldwide that adopting International Financial Reporting Standards (IFRS) results in improving of quality of financial reporting(Siswantoro, 2012). As such, reports are more compatible and can have serious economic consequences, hence this gross generalization on IFRS is highly approved. Insights into adoption of IFRS standards to harmonize accounting standards has led to serious debate amongst multiple countries. Economic consequences following adoption of IFRS differs significantly across jurisdictions or countries. IFRS have been noted to supersede standards in quality of financial reporting from various countries accounting standards(Ibarra, 2011). IFRS can also result in reduction in costs of capital that is enhanced by way of incentives from financial reporting, legal systems prevailing, capital market characteristics, law enforcements and so on. Various scholars are however opposed to the idea of quality standards as evident in IFRS but in Malaysia application of fair value accounting has significantly raised quality standards in the country. Malaysian financial disclosure and norms that existed prior to adoption of IFRS provided for historical cost recording for assets as well as liabilities. Due to recording of historical costs for assets or liabilities, financial records and statement of accounts often disclosed faulty profits or losses(Muniandy, 2012). Such profits used to carried forward for years and then with sale of such assets, companies used to have large losses that is not absorbed in its financial statements. Recording assets and liabilities in according to historical costs also led to tax liability for these companies as they had large proportion of profits, which was not real in nature. Further such large tax payment later upon sale of the asset resulted in losses for the entity. Thus, investors, shareholders and other user of financial statements often found it confusing to assess the data and information as provided in the financial statements. It deterred investors and shareholders form further investing into the entity. This dissuaded investments and created large liabilities that were difficult to pay off. Cost of capital were higher in earlier cases as companies seeking additional capital had to obtain them at higher rates of interests. with adoption of fair value accounting standards costs of capital has significantly come down. Users of financial statements are able to evaluate profits or losses of a company in a better manner. They are also able to assess assets and liabilities of the company in a better form. Overall tax burden for companies are also reduced with including of appropriate market values for assets as well as liabilities into financial statements. Therefore, companies are able to plan in a better manner sell of their assets against payment for specific liabilities. Fair value accounting aims to assess prices of assets and liabilities of market value rates thus allowing better financial statement development. Further, this improvises overall quality for reporting as users of financial statements will now be easily attracted towards business entity and make investments. Financial reports can now also be evaluated against global norms which makes easy for global investors to make investments. Conclusion Analysis of above fair value accounting standards in Malaysia in accordance to IFRS has brought about several benefits in the domain of financial reporting. Financial reports of companies have come to become much more compatible and acceptable by international standards, hence its investors. Though initially the companies faced immense challenges in accommodating such standards norms and aspects into their disclosures, but currently these have been successfully overcome. However, the most important aspect of integration of such standards into financial disclosures have heightened quality of financial reporting leading to more user acceptability globally. Accommodating various aspects of IFRS has impacted not only quality but also comprehensive capabilities of these companies. Hence, companies should accept and accommodate such disclosures and norms of IFRS. Reference Lists Adibah Wan Ismail, W. A. 2013. Earnings quality and the adoption of IFRS-based accounting standards: Evidence from an emerging market. Asian Review of Accounting, 53-73. Ahmed, K. C. 2013. A meta-analysis of IFRS adoption effects. The International Journal of Accounting, 173-217. Albu, C. N. 2014. When global accounting standards meet the local contextInsights from an emerging economy. Critical Perspectives on Accounting, 489-510. Amirul, S. M. 2014. Convergence to IFRs and audit report lag in Malaysia. . Convergence. assets.kpmg.com. (Retreived on 13th September 2017). kpmg. https://assets.kpmg.com/content/dam/kpmg/my/pdf/Wonderful-SME-Sdn-Bhd-Illustrative-Financial-Statements-2016.pdf. Carlin, T. M. 2009. Goodwill accounting in Malaysia and the transition to IFRSA compliance assessment of large first year adopters. Journal of Financial Reporting and Accounting, 75-104. Dutt, S. 2009. IFRS Convergence Update (Malaysia). In IFRS Conference: Seoul (Vol. 29). Gan, C. Y. 2016. Impacts of FRS139 adoption on value relevance of financial reporting in Malaysia. Managerial Finance, 706-721. Halim Kadri, M. A. 2009. Value relevance of book value and earnings: evidence from two different financial reporting regimes. Journal of Financial Reporting and Accounting, 1-16. Hanefah, H. M. 2012. Convergence towards IFRS in Malaysia: Issues, challenges and opportunities. International Journal of Business, Economics and Law, 85-91. He, X. W. 2012. Challenges for implementation of fair value accounting in emerging markets: Evidence from China. Contemporary Accounting Research, 538-562. Horton, J. S. 2013. Does mandatory IFRS adoption improve the information environment? Contemporary Accounting Research, 388-423. Ibarra, V. .-S. 2011. A comparison of the International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) for Small and Medium-sized Entities (SMES) and Compliances of Some Asian Countries to IFRS. Journal of International Business Research, 35. Joshi, M. Y. 2016. IFRS adoption in ASEAN countries: Perceptions of professional accountants from Singapore, Malaysia and Indonesia. International Journal of Managerial Finance, 211-240. Kwong, L. C. 2010. The Value Relevance of Financial Reporting in Malaysia: Evidence from Three Different Financial Reporting Periods. International Journal of Business Accountancy. Laili, N. H. 2008. IFRS Adoption and Organisational Change-Evidence from Malaysia. Marzuki, M. M. 2016. Institutional factors and conditional conservatism in Malaysia: Does international financial reporting standards convergence matter? Journal of Contemporary Accounting Economics, 191-209. Mohammed, N. F. 2015. The Influence of AAOIFI Accounting Standards in Reporting Islamic Financial Institutions in Malaysia. Procedia Economics and Finance, 418-424. Muniandy, B. . 2012. Development of financial reporting environment in Malaysia. Research in Accounting Regulation, 115-125. Paul, S. Y. 2012. Impact of late payment on Firms' profitability: Empirical evidence from Malaysia. Pacific-Basin Finance Journal, 777-792. Phang, S. Y. 2017. The responses of Malaysian public listed companies to the IFRS convergence. Asian Journal of Business and Accounting. Siswantoro, D. . 2012. Should Islamic accounting standard follow to international financial reporting standards (IFRS)? A lesson from Malaysia. Indonesian Management Accounting Research, 51-73. www.7eleven.com. (Retrieved on 13th September 2017). 7eleven. https://www.7eleven.com.my/pdf/ar-2016.pdf. www.wesfarmers.com.au. (Retreived on 13th Sepetember 2017). wesfarmers. https://www.wesfarmers.com.au/docs/default-source/reports/2016-annual-report.pdf?sfvrsn=4. www.westpac.com.au. (Retrieved on 13th September 2017). Westpac Bank. https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/financial-information/FY16_final_presentation_and_idp_asx.pdf. Yaacob, N. M.-A. 2012. Adoption of FRS 138 and audit delay in Malaysia. International Journal of Economics and Finance, 167. Yang, H. H. n.d.. Insights from Accounting Practitioners on China's Convergence with IFRS. Australian Accounting Review.

Globalization project free essay sample

More specifically, after the acquisition of Max Factor Japan and success in its SK-II line, questions are raised about whether global expansion is feasible and profitable as a franchise. De Cesare ran this skin-care line in Japan, but he reported directly to Lafley. This is crucial because global expansion would require Lafley’s approval in budgeting and organizational support. PG recently went through major organizational changes over a period of six years known as O2005. This created huge questions in the strategy that would be put together in the case of a global expansion for SK-II. Within the U.S. Procter Gamble originally followed an organizational structure consisting of seven different divisions that were furthermore shattered into 26 distinct categories. Each category had its own RD, supply management and marketing. In addition, the international organization was divided into four regions that were then broken down individually by country. We will write a custom essay sample on Globalization project or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The GM’s of each country and each of the four individual regions were uniquely held responsible for earnings. This would create conflict and resistance in unifying the company due to cultural issues affecting sales in certain countries. Originally, PG was a failure in Japan. They failed to understand and accommodate to local culture and its demands, as well as ignoring the fierce competition. Believing in Japan as a key place for the beauty business, the decision to pursue success was held. Finally, in 1999, when Jager was named CEO serious organizational structures were started: O2005. RD spending was increased by 3% while reducing expenses. Cutting costs was made to become more efficient overall as an organization, but it would come at a painful price by reducing the workforce and taking a hit of $1. 9 billion dollars over five years. More importantly, he changed the structure of four regional VP’s to seven GBU’s (Global Business Units). This came with a change in responsibilities and mentality. The key to this reconstruction of organization was based on the principle that constant innovation of products will promote growth. To encourage risk taking and innovation, the heads of the GBU’s and management were placed on a performance-based compensation which could dramatically increase earnings. The ultimate goal was to standardize the RD, manufacturing and marketing across the company disregarding culture as much as possible. This was meant to increase communication between former countries GM’s and become more efficient and effective in innovating products. Porter’s Diamond-Model: Using Porter’s five forces model in PG’s structure and strategy to face the international markets, it is convenient to analyze it using the Porter Diamond analysis. These include: factor conditions, demand conditions, related and supporting industries, firm strategy and its structure and rivalry, government, and chance. The theory suggests that all these factors are interconnected. First of all, the SK-II is a skin-product line originated in Japan that requires a six to eight step procedure to have its max benefits. It is intended to be priced as a high-end product vs. the Olay in the United States. PG have a huge competitive advantage which is their enormous RD power. It allows for their global RD groups to work together through the company’s Beauty Care GLT. This permits the technologists of RD to make changes to the product as needed to individual cultures. Thanks to PG’s already established global structure, individual needs are more effectively and efficiently met. Speaking solely about SK-II expansion, the massive global technologically based RD can serve as a competitive advantage. Japan is the world’s leading consumer of beauty products per capita. Thus, the demand for highly effective beauty products is always off the charts in Japan. PG put their best technologist across the world (especially Japan) to create a multi-step product that not only cleaned, but also moisturized and toned the skin. Basically, it was a 360 type of product. Due to market differences, Olay used the same technology but portrayed as a cheaper version to successfully sell in the US. With more efforts in packaging and selling, SK-II created a loyal consumer in Japan even with all the competition from other companies. About 45% of total SK-11 sales came from Taiwan and Hong-Kong. These two modern Chinese descendent populations followed trends in beauty from Japan. As a result, it was a successful launch that inspired furthermore expansion into the rest of China. Japan being the Paris/New York/Milan of the Asian continent, women in nearby markets are influenced by the larger market share holders. Sk-11 proven success and loyal base can be another competitive advantage. In 1999, under CEO Jager, the company was going through a colossal structural change known as O2005. As a result, new people were given new responsibilities as well as shifting of jobs. This created a cross-company confusion of who does what. The best way to describe the old structure of the company is through the following quote by former VP of overseas operations Mr. Walter Lingle:† We must tailor our products to meet consumer demands in each nation. But we must create local country subsidiaries whose structure policies and practices are as exact a replica of the US Procter and Gamble organization as it is possible to create. This talks about an organization where operations of products are managed independently within the local market by a GM. With O2005, standardization becomes the main goal. Instead of putting economical responsibilities on GMs’ like before which stumped growth, each of the seven business units were now responsible for profits. When SK-II was created and brought to the market, a unified RD team worked on the technology behind it. A standardized process was used in the manufacturing of the product. In  contrast, as I explained earlier, Olay and SK-II used different packaging and sailing methods to more effectively penetrate different markets (US and Japan). This was an important factor in success of the product. Local research was needed to do this. PG’s O2005 conflicts with the way SK-II is proposing to handle a global expansion plan. Thus, in order to increase the chances of success in international markets outside of Japan, PG will have to conduct local research in individual markets. Refusal to do not tweak O2005 for the SK-II expansion can result in a loss. As mentioned in the case study, de Cesare has three different options in routes to take in order to increase growth of Max Factor Japan; Expansion within Japan, go into mainland China, or tap the European market. Europe: European women come mostly from developed countries. Therefore, they are very educated when it comes to fashion, culture, and beauty. Beauty-line products are nothing new in these waters. Unlike the US and other markets, European women appreciate high-end beauty products and are almost as demanding as the Japanese women. It is no surprise that some of the world’s most renowned brands are from Europe. Some of the brands mentioned in the case are Chanel, Dior, and Clinique among others. Not only do these brands hold the grand majority of market share, but it is equally distributed between them. This creates a very low threat of a new entrant in the market. These brands form significantly high entry-barriers due to their popularity and loyal customer base. To make things worse, the threat of substitution for SK-II is very high in its current market because a company like Clinique is as popular as Coca-Cola is in the beverage industry. These companies have the money and other resources to create equal, if not superior products to SK-II. Finally, the bargaining power of suppliers is low. Yet, due to the competition level in the European market, the consumers have high bargaining power. Japan: One of the main reasons that Max Factor Japan had harsh time in its first 12 years under PG was because of the lack of understanding of the distribution systems in Japan. To add on, the women in Japan are extremely ‘picky’ when it comes to beauty products. Your product has to truly differentiate and gain loyalty from the consumers in order to remain as a leader of the Japanese beauty market. This reasoning explains why the threats of new entrants are very low. Japan has also slowed down in growth to 6% in the two years prior to 1999. So, not only is there an established oligopoly, but the growth is limited. Why would any company that doesn’t know the Japanese market want to even make an attempt at a suicidal mission? Due to this fierce competition within the big market share holders, innovation is crucial. Clearly, the threat of a substitute product developed by a competitor in the market is relatively high at any given point. The constant competition within the main players allows the consumer to have a high bargaining power. However, the bargaining power of supplies is low in Japan. China: The case study shows a growth rate of 28% in the previous two years (before 1999) in the beauty market. The case study also talks about a potential 30-40% annual growth in the future. Thus, the opportunity for growth is tremendous. The market share is still ‘up for grabs’. From this we can conclude the threat of new entrants is very high. China is unique because it there is an immense social class gap. A lot of mainland China is very poor. In fact, the average monthly salary of the Chinese woman is equal to a three month supply of SK-II! In the other hand, the special economic zones in China vary drastically in culture and economy. The astronomical growth in the beauty market in China takes some pressure away from competition within the bigger players. Some main European and Japanese brands are already expanding in China. Due to its early stage though, the bargaining power of both suppliers and buyers is low. Nevertheless, the risks of substitutes are high once again because of the RD power of the current competitors. It is important to have in mind that SK-II business model is to sell as a high-end product. While the very few citizens with the big bucks can provide a lot of revenue, it is also depended on SK-II being able to capture the limited higher-income society. Recommendations and conclusion: Throughout this analysis, we take a look at Porter’s five forces model to determine the pros and cons of global expansion as proposed by de Cesare. A recurring factor in the global expansion is the threat of a substitute. It is clear there exists sharp and fierce competition within and Japan and in global markets. This can be very costly. Max Factor Japan should take a very careful look at individual markets it wishes to pursue and identify distribution channels as well as a target market to have success. Learning from the mistakes of others is the cheapest way to establish a competitive strategy. Overall, I suggest that the safest and most logical route is to keep pursuing larger market share within Japan. SK-II already has a loyal consumer base, and through the innovative BIS, sales can significantly increase for a low cost and risk. In order to successfully expand into other markets, I believe that while still a significant 3% market share, it is not big enough to compete against the bigger players in the world. In Europe, a possible $10 million in sales by year four while absorbing a $1-2 million annual loss for the first few years is a risk not worth taking. Some of the world’s biggest players already dominate an educated and loyal consumer market. In addition, the distribution channels used by Max Factor Japan are completely different from the popular perfumeries in Europe. It is true that the UK is seeing massive growth in the skin-care market, but the research conducted wasn’t very clear. If success is expected out of a lot of money and effort from PG, then more in-depth research should be conducted. At last, the Chinese market is very young. There is tremendous opportunity to make money in China. It is of significant value to point out the success of SK-II in similar cultures to the rest of China such as Hong Kong and Taiwan. The fact that SK-II is a high end product, it is subject to import duties of 35-40%. Although this is true, break-even is projected within three years. Due to the differences in economies in different sectors of China, it is crucial that Max Factor Japan determines which group of people or cities it is going to target, even if it goes against the PG overall goals. Perhaps experimenting in Shanghai or Beijing would be a good trial before expanding into the rest of China. It is extremely important to not let the big European and other Japanese players conquer the huge Chinese market first; that’s if SK-II ever wants to become a world known brand.

How to Solve an undefined local variable Ruby Error

How to Solve an undefined local variable Ruby Error In  Ruby, you dont have to declare variables, but you do have to assign something to them before they can be referred to. If youre referring to a local variable that doesnt yet exist, you may see one of two errors. Ruby NameError Messages NameError: undefined local variable or method a for # NameError: undefined local variable or method a for main:Object Note:  There might be various identifiers in place of  a  above. This is an example where the code will generate the Ruby NameError message since the variable  a  hasnt yet been assigned to anything: puts a How to Fix the Error Variables must be assigned before they can be used. So, using the example from above, fixing the error is as simple as doing this: a 10 puts a Why Youre Getting This Error The obvious answer is that youre referring to a variable that hasnt yet been created. This is most often due to a typo but may happen when refactoring code and renaming variables. You might also see the  NameError: undefined local variable Ruby error if you intended to enter a string. Strings are understood when they exist between quotes. If you didnt use quotes, Ruby will think you meant to reference a method or variable (that doesnt exist) and throw the error. So, look back over your code to see what this variable is supposed to be referring to, and fix it. You may also want to search for other instances of the same variable name in the same method - if its wrong in one place, it may be wrong in others.

Administrative Ethics-HIPAA Essay Example | Topics and Well Written Essays - 1250 words

Administrative Ethics-HIPAA - Essay Example The specifics of these objectives are highlighted under Title II and I respectively. Section one embodies the protection of health covers for workers and their families. This part is meant to ensure easy transfer of health insurance covers from an old employer to a new employer or at least guarantee the continuation of cover in the event of job loss. On the other hand, section II details administrative specifics under Administrative Simplification (AS) (Banks, 2006). The AS section dictates requirements in establishing nationwide standards, which define the manner in which healthcare transactions are conducted electronically. It also defines the specific identifiers for employers, insurance plans and healthcare providers. This section helps simplify administrative challenges emerging from requirements of portability. The AS section also addresses issues of privacy and security of patients’ information and records. Since its ambitious implementation, HIPAA has expanded its infl uence on to major health issues such as security, confidentiality, privacy and simplification (Banks, 2006). In a nutshell, HIPAA promises an effective and efficient mode of disseminating and sharing electronic information in the healthcare sector. The compliance deadline was 2003 and a slight extension for harmonization of some minor plans. Since 2003, the plan has gained widespread adherence by various players including health insurers, employer sponsored healthcare plans, healthcare service providers and clearing houses in the sector. In spite of its positive outlook and gains made, HIPAA still raises numerous challenges with regard to its implementation. This paper reviews one of the significant challenges in HIPAA’s implementation by highlighting a newspaper article covering the issue of disclosure. The article under highlight appeared in the New York Times on 3rd July, 2007. The piece of work by Jane Gross is titled â€Å"Keeping Patients’ Details Private, Even From Kin.† Disclosure Issues in HIPAA’s Implementation HIPAA dictates the rules of disclosure and non-disclosure for Protected Health Information (PHI). However, Gross (2007), indicates that a number of studies have shown that a number of healthcare providers are applying HIPAA inappropriately. These providers and practitioners under them apply the regulations overzealously by being excessively and unnecessarily prohibitive. These acts have left caretakers, family members, law enforcement officers and public health officers unable to access information that is essential for their operations and life. Gross’ article presents this challenge by citing various real-life situations in which family members have been barred from staying with their kin or assessing their treatment chart information while undergoing treatment. Gross cites Mr. Nussbaum’s case in which he was barred from staying with his father or checking his treatment chart as an example of misinte rpretation of the act (Gross, 2007). A similar case involving Ms. Banks saw her drive from Oklahoma to Tampa to get information about her mother because this could not be disclosed over the . On arrival, she had to spend another 24 hours before she could get the disclosure from the doctor involved, simply because the nurse feared going against HIPAA (Gross, 2007). These examples show the frustrations that family and other parties such as researchers have when seeking patient information. The bigger challenge is that while there are â€Å"good faith nondisclosures,† there are also numerous cases of â€Å"bad faith nondisclosures† that unnecessarily bar access to information. For example,

Renters Essay Example | Topics and Well Written Essays - 500 words

Renters - Essay Example If it there is no comparison, one should lower the tax rate. To report rental income, one can use the form 1040 that comprises of all the schedules from A to F, J, L, M, & SE, and the other form 1040 with few information and no schedules. If your buildings, apartments, or rooms provide only trash collection, heat, and light among others, one should only report the rental income and expenses on part 1 in schedule E form 1040. If the apartment provides extra services that are essential to tenants’ convenience, like maid service, regular cleaning, and changing linen should report the rental expenses and income in Schedule C form 1040. It indicates considerable services of the apartment or business as the real estate dealer One can include rental income from the real state property owned by the taxpayer with the income they are reporting for their convenience store by including it on the schedule C used to report sales activities. This may be helpful as in most cases one may be subject to risk on activities carried out as business or trade. Typically, schedule C highlights the loss and profit from the business. It underlines basic services imposed for tenant’s convenience, and the total rental expenses and income (Anderson, 2011). The rental income is an income that is subject to self employment taxes. It is worth noting that, rental income is indicated on schedule E with Supplemental loss and income of tax return. Such incomes are derived from corporations, rental income, royalties, and trusts just to name a few. Nevertheless, even though such are categorized as income, it is not earned until one rent a personal property rather from real estate. Rental income takes place when one invests money in estates, which is return on investment in the form of rent. Therefore, the rental income can only be subject to self-employment taxes if there is investment obtained. However, if the apartment does not give

Brave New World And White Noise Essay Example | Topics and Well Written Essays - 2000 words

Brave New World And White Noise - Essay Example The authors show how technology has formulated men’s lives and ways of living and how this has influenced their emotions and finally the outcome of their relationships. Whereas Brave New World is a landmark fictional work of the modern literature. DeLillo has been awarded multiple accolades for his ‘breakout’ work White Noise including the National Book Award in 1985. In contrast, Brave New World was published in 1932 where Huxley seems to prophesize and communicate the major struggles which dominated modern life along with the arms race that so powerfully underlines the role of modern technology in today’s world. Brave New World is a fictional novel belonging to the utopian literature genre, where the society essentially portrayed is called dystopia (the opposite of utopia) where things go badly awry. It is a parody of Well’s idealistic work Men Like Gods. As the name suggests, the setting is an imaginary society that is organized or synchronized to create an ideal conditions for human beings by scientifically orchestrating the near robot like individuals who are devoid of pain, hatred, neglect, and every other evils in the world. It is a bitterly satiric novel that was written to portray the horrors that engulf a planned totalitarian society, where the individual loses the all subtle human emotions including the sense of love in the above process. On the other hand, White Noise is set in the 1980’s with a small American town as the main backdrop. This is not a fictional state of a speculation but records the real society in the time where the individuals try to decipher the meaning of truth, that is, death in this case. The backdrop is also the age of the 80’s, which as per DeLillo’s interpretation is an age obsessed by media and where the key drivers of the society are rampant material consumption and putting up a facade to get a position of distinction in the society. In fact mass communication tools co uld be most indispensable to democracy and most abusive in the hands of a dictator. In his novel, Huxley portrays individual images of the character but they tend to take a back seat to the overall horror of a fictitious totalitarian society where the interest of the state takes precedence over the likes, opinions and thoughts of the individual characters. In such a society all the components of a press is usually controlled by the Elite and serve a purpose which is bigger and irrelevant to a common individual. In novel, the author caustically portraits the stability in the society where the individuals are programmed to be devoid of subtle human emotions that essentially gives rise to a sense of pain. The usage of ‘genetic engineering’ and ‘conditioning’ are shown as a technique to illustrate everybody is satisfied with their living. Here science is used for furthering technology, the State talks about scientific progress, what it essentially means is furt hering of technology, not in increase in horizon of scientific understanding through exploration and experimentation. In contrast in White Noise, the technology proves to be universal in its occurrence where it is both threatening and uplifting at the same time. All through the novel, technology becomes inextricably a part of the quality of regular life as are the human characters themselves. DeLillo’s narrative seamlessly weaves between the sounds of mechanical and human sounds that

Co Action Effect And The Audience Effect Psychology Essay

Co Action Effect And The Audience Effect Psychology Essay The co-action effect occurs when a higher level of performance is present when surrounded by other individuals performing the same task. It can be applied to a variety of tasks competitive and non-competitive e.g. Sports, multiplications, spelling etc. It is also perceived that an individuals work rate can alter by merely watching the individual carry out a specified task. This is known as the audience effect. This theory however has positive and negative effects based on the degree of competence with the task given to the subject. If they are skilled in the task, their level of performance will heighten. However, the opposite will occur if the subject is not very capable with the task. These two theories are categorised under Social facilitation. Q2. Describe two psychology studies on this area of human behaviour stating their findings and conclusions. The co-action effect was first perceived in 1898 when a test was carried out by Norman Triplett. His theory was on cyclists and the speeds they reached when firstly, racing against each other and then racing individually against a stopwatch. He noticed that racing against each other rather than against the clock alone increased the cyclists speeds. He then tested his thesis in a controlled lab experiment where he gave children simple tasks to perform on their own and then with a partner. He again found that co-action resulted in improved results in the children. He concluded that the bodily presence of another contestant participating simultaneously in the race serves to liberate latent energy not ordinarily available (Triplett, 1898). An example of the audience effect was noted when psychologist J.Michaels 1982 carried out an investigation on pool players. First he assessed their ability and rated them either above or below average. He then stood by them to see if his presence had any effect on the way they played. The conclusions of the investigation showed that the more abled players performed to a higher calibre and the less abled decreased in ability proving that in fact even though the audience effect can have positive results, they can also facilitate negative ones too. The presence of an audience arouses humans and affects our ability to perform a task. This arousal stimulates us, so that if we are doing something we are good at, we do it better. However, we are already aroused when performing tasks in general. An audience overseeing the task can sometimes act as an over stimulant to certain individuals and interfere with the task at hand. Q3. Evaluate theories and research into the basis of social power including obedience and conformity. Power was found to be one of the most effective reasons as to why an individual feels the need to follow through with what another says to them. Psychologists have undertaken many years of experiments to try to figure out what types of powers are in our society and how they shape and influence the way we live today. There are two main points in social power that can alter an individuals thought process. Obedience and Conformity. Throughout this essay you will read how Psychologists have discovered the roles in which these two influences affect the society we live in. Conformity is described as the type of social influence involving a change in belief or behaviour in order to fit in with a group.  This form of influence can occur in two separate ways. A majority influence whereby the feelings and behaviours of a collective set of individuals within a group can alter or change the opinion of the minority, and the minority influence whereby an individual will change the opinions of the masses in a group. One way in which a majority may influence is known as public compliance. Solomon Asch (1956) set out to encompass what this type of conformity was by using a simple exercise. The aim of the experiment was to see how subjects reacted when faced with an unambiguous task. Would they be influenced by a groups behaviour or would they stick to their own belief that they knew to be true. Aschs test was carried out on 123 participants and all were American males. The subjects were asked to distinguish between three lines and pick a line that was of the same size as a fourth individual line. The procedure was carried out with the individual subject sat around a table of confederates all instructed to give incorrect answers with the subject having to answer last. The procedure was conducted 18 times and out of the 18 guesses, the confederates were told to guess incorrectly 12 times as to add a sense of validity to the experiment. The results showed that 75% of the participants gave incorrect answers at least once suggesting that they had conformed to the group ideology of thinking. Asch then repeated the test and altered a control of no confederates giving wrong answers. Asch found that there were mistakes made about 1% of the time. The conclusion of the experiment shows that there was a high amount of conformity when faced with pressures from a collective group. Questions must be asked however on the actual validity of the experiment itself when looking at real life and moreover the demographic used in the experiment. The participants were asked a simple question, yet if faced with a question that holds more substance, would the participant still conform to such a degree? The experiment has been repeated on many occasions by changing the type of sample used to English scientists (Perrin and Spencer 1980) and youths on probation (Perrin and Spencer 1990). Some more recent research suggests that Aschs experiment is merely an unpredictable phenomenon (Lalancette and Standing 1990). The ethics involved are quite negligible when considering other experiments that will be discussed later in the essay. Participants must have felt tricked once they found out the other participants were actually confederates, and perhaps the subjects may have felt distressed when being put in a difficult situation. We can go back further in the 1900s and see other forms of experiments used to analyse the use of majority conformity. Muzafer Sherif (1935) investigated responses to ambiguous statements by using the auto kinetic affect. This is when very small movements of the eye make a spot of light in a darkened room appear to move because the eyes lack a stable frame of reference. Sherifs participants were tested individually, being asked to say how far the light moved and in what direction. Their answers varied considerably. However, Sherif then requested the participants work collectively to estimate the movements. Their answers started to become quite similar demonstrating the influence of a groups ideology on an individual. The results of this study can also be questioned too. As the answers were ambiguous and there wasnt an obvious answer it could be argued that participants are more likely to conform as they are never completely certain of their answer. This methodology therefore affects Sherifs interpretation of conformity as it is not very reliable. The same ethical questions can be asked when looking at this experiment. The participants were deceived and additionally put under pressure to conform to a groups way of thinking which can cause stress. We can also analyse conformity through the use of a minority influence. Although conformity is generally led by the influence of groups, individuals are occasionally able to reverse this tendency and change the opinions of people around them. This is known as the minority influence. If an individual makes a strong, convincing case it can increase the probability of changing the majoritys beliefs and behaviours. One iconic example of this occurring was the suffragette movement at the start of the 20th Century. The faction started out with a very limited amount of members with strong opinions that women should have the equal rights. Initially their opinions were unpopular but as time went by, the minority influenced the majority with their concise and logical arguments and eventually it led to the majority conforming to the same beliefs. To test this theory a Psychologist known as Moscovici (1969), conducted an experiment similar to that of Asch. 32 groups of 6 were chosen with 2 confederates in each group. The groups were shown a slide of varied shades of blue and asked to convey what colour was perceived. Moscovici et al proposed that if the confederates had that of a different opinion to the group and stuck to that opinion consistently, they could alter the groups views. The confederates consistently said the slides were green. The findings of the experiment showed that 32% gave the same answer as the minority at least once. This suggests that although it is a minute amount of impact on the results, there is some kind of conformity to the minoritys way of thinking. This experiment unusually doesnt hold many ethical problems. Although participants were deceived initially, the deception was moderately low and the tasks given were of a low level of stress. We could go as far as to say that this study was ethically acceptable. However, there are a few criticisms of study. The participants were females, Eagly and Carli (1981) study suggests that females are more likely to conform to ideologies of a group than that of men and so this questions how reliable the study actually is. And so we understand that conformity doesnt necessarily have a boundary that requires a person to act in a certain way. Obedience can be considered entirely different. Conformity does not require us to react in a specified manner whereas with obedience we are instructed or ordered to do something and these orders stem from a higher authority. We can relate this to history when we look at the atrocities that shaped Nazi Germany in World War I and II. Millions of defenceless Jewish people (and many other ethnicities) were slaughtered by Nazi soldiers under the influence of the government ran by Hitler. The heinous crimes committed had many questions to be answered but mainly how were the crimes committed and why?! During the Nuremberg trials, many of the high ranking officials were put to trial over what they had done with the only claim to their innocence being that they were simply, obeying orders. These claims were blatantly thrown out of court and a stereotype was claimed stating t hat a Germans DNA was simply different to that of every other human. Yet a man named Stanley Milgram wanted to understand if there were any truth to these claims. In 1963 he set up a psychology experiment to test if any human, not just German, could be put under such strict obedience pressures, that they could commit these horrific crimes against humanity. His participants were American men aged 20-50 and were from various occupation backgrounds. The study was carried out at Yale University, where they were taken to a lab and introduced to an experimenter dressed in a lab coat (confederate). They were then introduced to what the participant thought was a fellow experimenter however he would be the accomplice in the experiment. These gentlemen had fabricated that he had a heart problem to add to the validity of the study. Participants were then given a summary of the experiment. The mock investigation was to distinguish the roles between teacher and learner. A fake ballot would decide what role would be decided for the two subjects with the actual participant always allocated the teacher role. The procedure of the experiment consisted of a simulated electrode machine in the room the teacher was placed in that would be used to administer an electric volt to the student in another room. The isolation from the two subjects was to add to th e already dissociation created. Every time the student answered a question incorrectly from a sheet the teacher, (participant) was given. The participant would control the shock machine and the teacher would purposely answer the questions incorrectly. The experimenter would push the participant and provoke them to administer the shocks even if they insisted on stopping. Surprisingly, some 65% of the teachers gave what they thought was the maximum amount of punishment (450 volts of electric shock). Based on these results, Milgram suggested a theory known as the Agency Theory. He states that when faced with a stressing situation, humans attribute their responsibilities to an authority figure. This experiment completely changed the impact on social policy, but came with many ethical and situational complications. The ecological validity of the experiment should be questioned as the experiment was conducted within a laboratory and it could also be argued that the participants used were more suggestible as they volunteered for the experiment. Although participants were debriefed to a satisfactory manner (84% felt glad to have participated), the stress endured within the experiment could have possibly had long-term affects to the subjects. Milgram himself states, The degree of tension reached extremes rarely seen in experimentsà ¢Ã¢â€š ¬Ã‚ ¦Subjects were sweating, tremblingà ¢Ã¢â€š ¬Ã‚ ¦on one occasion we observed a fit so violent that it was necessary to call a halt to the experiment. Deterred by the ethical background of the experiment mentioned a man known as Zimbardo wanted to carry out an experiment to back up Milgrams study to add validity through using a less controlled environment. Male students applied for a study about prison life. 21 participants were chosen to be guards and prisoners (10 prisoners, 11 guards). The prisoners were arrested at home unexpectedly and blindfolded to disorientate them whilst taking them into their controlled prison cells (the basement of Yale University). Many symbolic items were used to associate the prisoners with their roles (ID numbers, nylon caps, orange jump suits). The guards also had many garments so they could associate themselves with their specified role (clubs, mirrored aviators, handcuffs). Over the two week period, the subjects became more and more connected to their specified role. The guards became more autocratic and the prisoners became tolerant of being punished for the miniscule of issues. The study shows how the guards and prisoners conformed to their roles given especially the prisoners through the use of obedience. However, the ethical issues developed throughout the case were even more severe than that of Milgrams. Five prisoners had to be released early due to depression and the whole experiment had to be cancelled only 6 days into the study out of an initial two weeks. So here we have seen how obedience and conformity influence humans and the test we have created to observe how these characteristics can be measured and implemented in real life. On the way we have seen many ethical questions arise as well as the validity of the actual experiments. If we can understand anything from the theories present, we must understand that the experiments involve human beings, who are probably, the most unpredictable sources to all the theories. Thankfully, we now have Ethical guidelines as a result of these experiments; human beings are malleable objects and must be handled with care. Hopefully the results from these investigations on obedience and conformity are used to help human beings in the future and not control them.

Biography Of Arthur Clarke :: essays research papers

Biography of Arthur Clarke   Ã‚  Ã‚  Ã‚  Ã‚  Arthur C. Clarke, a science fiction author, has had a very interesting life.   Ã‚  Ã‚  Ã‚  Ã‚  Arthur was born on December 16, 1917, in Minehead, England. He was the oldest of four children. His two brothers were Frederick and Michael, and his sister's name was Mary. As a child, he enjoyed science very much. He lived on a small farm, and enjoyed frequent trips to the nearby ocean. When he was 13 years old, he constructed his own telescope, and changed a bike light to transmit sound along the path of light it gave off. Arthur made his first literary connections by writing in the school newspaper.   Ã‚  Ã‚  Ã‚  Ã‚  He attended elementary, Middle, and high school in his home town, and then later went to King's College in London, where he made honors in Math and in Physics in 1948.   Ã‚  Ã‚  Ã‚  Ã‚  After Arthur had finished college, he became a member of the Royal Air Force.Then later he became the assistant editor of Science Abstracts, a science magazine. After quitting his job as the assistant editor, he decided to become a full-time science fiction author.   Ã‚  Ã‚  Ã‚  Ã‚  Arthur has never been married, and still, to this day, is a bachelor.   Ã‚  Ã‚  Ã‚  Ã‚  Clarke is a very successful writer. In fact, he is considered to be one of the most successful science fiction authors ever! He has written many books, including: Hammer of god; 2001, a space Odyssey; Prelude to Space; The Sands of Mars; Islands in the Sky; Against the Fall of Night; Childhood's End; Expedition to Earth; Going into Space; and Earthlight. Arthur has also written a few Nonfiction books, like Interplanetary Flight, and The Exploration of Space. Also, one day, he had an argument with a colleague, and said, â€Å" When a distinguished but elderly scientist states that something is possible, he is almost certainly right. When he states that something is impossible, he is very probably wrong.† (Science Digest )   Ã‚  Ã‚  Ã‚  Ã‚  Arthur has won many prestigious awards, including the UNESCO Kalinga Prize, The Franklin Institute gold medal, the Robert S. Ball award, and the Aviation/Space Writers Association Award.   Ã‚  Ã‚  Ã‚  Ã‚  An interesting fact is that Clarke proposed a belt of communication satellites, and now they exist. He also helped make the idea of space travel popular in the sixties. For some army history, Arthur joined the RAF in 1941.

Apple’s Fdi and Globalization Essay

Globalization- Today the world has become a global village where each and every thing is interlinked.The concept of global village or global merger is based on the grounds of globalization. Now thequestion arises in one ¶s mind what is globalizationThe term globalization means the concentration of world economy in to a single international market rather than many national markets. For example, the APPLE INC, an American multinational corporation that concentrates in computer hardware and software components. It assembles its best known product i.e. ‘mac’ computer, best selling phone ‘iphone’ in china. This is because the cost of production is low due to cheap labour force. Thus globalization involves:- Free trade of goods and services Free movement of labour and capital Free access in technology Now, we will discuss the above points with more details. Free trade of goods and services- Based on APPLES INC business operation the company is selling its product such as the ‘iPhone’, ‘MAC’ computer in many countries in the world. Generally it is a US based company which is doing its business world-wide, there are no restriction for the company not to sell its product in any country. So its means free trade of goods and services. Free movement of labour and capital- In regard with APPLE INC it means, apple can move its labour force and inject capital in any country with no restriction. When talking about labour force it means the people who work for APPLE can travel from one country to the other. For instance, officers travel from one country to the other. We normally see in the news that APPLE has appointed new officers in the UK, Germany or the US. Technical team travel from one country to the other when there is a major problem where other technician can not figure out what the problem is. In terms of capita l, it means APPLE has invested capital to make industries where its product are made and assembled. They have factory in china and other countries in the world. Free access in technology- It means the the software of APPLE i.e. the ‘iOS’ are being used in many countries in the world. This is because the products that APPLE is selling use iOs software and these products are being sold in many countries in the world, so it means the technology is being freely moving from one country to the other. This encourages globalization. Another example is, a potential customer from Bangladesh looking to buy a shirt, he looks on the ‘New look’ website. It normally making the sense that, a customer can access the catalogue from any where of the world. This is commonly known as globalization. Apple Inc. is an American based multinational company whose stocks are listed in the New York Stock Exchange and NASDAQ (National Association of Securities DealersAutomated Quotations) under the symbol AAPL. The company specializes in the design,development and manufacturing of electronic equipments like computers, software and smart phones. Business strategy: Apple is currently working on the differentiation strategy by putting unique elements in the design and development of its products. The differentiation strategy is defined as a strategy that aims to develop the products and or services that have unique characteristics that are well liked by the customers and are valued by them. This strategy enhances the market position of the companies with respect to their counterparts (Porter, 1998).The success of the company in the global markets is due to its extensive focus on the market research and development for the development of its products and services. With reference to its business strategy, the company is in a continues process to build and advance the robust platform that can enhance the listing of third party content like mobile phone apps, games etc on its online stores or its iTunes store (Apple Inc.,2010). Markets and Distribution The customer segments of the company are divided into various categories. The needs of the main customers markets it caters are of small and medium businesses, education sectors,large corporations, government departments and other related markets. In order to meet the needsand wants of these consumer markets, the company is utilizing direct and indirect distributionchannels including online sales services, retail stores and direct sales force as well as third partysellers, retailers etc. Using direct sales contacts with the customers is, believed by the company,leveraging its product sales and has demonstrated as an advantage to the company over itscompetitors. In order to maximize its sales and to make sure that the buyers are receiving highquality experience, the company is in a process to expand and improve its existing channeldistribution network (Form 10-k S EC Filing, 2010). Competition The company faces aggressive competition from the other market players. According toHoover (2011) the top three competitors of Apple Inc. in United States are Fujitsu TechnologySolutions (Holding) B.V., International Business Machines Corporation and MediaNet Digital,Inc. respectively. The needs of the markets it caters are highly competitive in nature due to the ever changing and advancing technological environment and the rapid introduction of new technology based products. The main competitors of the company are following cost leadership strategies by reducing the prices of their products or by maintaining low profit margins to maintain their market share. There are various forces that can impact the business and profitability of Apple. These factors may include the marketing mix  ± product, price, place, promotion strategies, product performance, the quality and reliability of the product, innovative designs as well as then availability of up to date software services.Moreover, some of the competitors of the company have number of resources which they can utilize against the company to provide the product and service offerings related to Apple,offer the business and consumer products and services similar to Apple ¶s products at low price range(Form 10-k SEC Filings, 2010). Products and Services Apple is currently using in house manufacturing system for the production of all of its products. All the products like Mac, iphone, ipad and ipod etc. are designed, developed and marketed via its main manufacturing hub which is located in the USA. But, as mentioned earlier,the company is outsourcing the production of some of its product parts to the various international and national supply chain partners; subcontractors. Some of the components of its products, ipod, are outsourced to its subcontractor in Hong Kong from where it is sent to theoutsourced production plant of the company (Linden et al, 2007).Some of these components are of high cost. While the other products like hard drive andflash memory etc. are sent to the other companies or outsourcing companies like Toshiba inJapan or Samsung in Korea. Large number of its components is of low cost. The metalcomponents of the products are made by the outsourcing unit in Taiwan called Foxconn and the plastic components are products by the outsourcing units in Singapore (Brown, 1998, p.198).Finally these parts are assembled in the China and then transported to its sales outlets across theworld (Kahney, 2008).Outsourcing plants:It has built its integrated manufacturing and design facilities in the various countries for example in California, Singapore etc. This global network allows the company to develop andlaunch the products in its markets of America, Asia and Europe. It produces its products, for example ipads, in the Shanghai, China which has given it a cost saving advantage and lead to theincreased profitability for the company (Chaffin, 2002). But on the other hand, this outsourcing has increased the downsizing and unemployment rate in the home country (Rodriguez-Clare,2011).some of the outsourcing plants managed by the company are showing troubled situations for Apple. ConclusionThe economy of the world has now become free from any boundary. All the countries are now considered integrated with one another as one global market for carrying out variousactivities like trade, relations, etc. Evaluate: Evaluate; From one perspective, Apple’s world could not be rosier and its future shinier. Rising from the rubble of a disintegrating company in 1997, Apple has reached the pinnacle of success in 15 short years. With a market capitalization of over $500 billion, Apple is amongst the most valuable and highly profitable companies in the world. When it comes to customers, Apple is a bold innovator that leads the industry into new directions and forces others to follow. However, when it comes to the management of its supply chain and treatment of workers in the Chinese factories that make its products, it hides behind the constraints of prevailing industry practices. Foxconn and its China-based subsidiaries are owned and controlled by the Taiwan-based Hon Hai Precision Industry Co., Ltd. Most of Apple’s worker-related problems were focused on Apple’s manufacturing partner Foxconn and its subsidiaries. Reports over the past few years have described instances of Foxconn employees committing suicide, presumably from working in an extremely high stress environment. In addition there are reports of deplorable living conditions, underage workers, below-standard wages, involuntary labor, and health hazards associated with the use of toxic chemicals and inadequate air filtration systems Finally, in the closing days of 2011, Apple announced with great fanfare that it had joined the Fair Labor Association (FLA. Over the concept , Chinese factories have honed their tactics in concealing problems from the auditors by keeping workers away from plants during audit visits, maintaining multiple sets of accounting books and workers’ personnel files, coaching workers to give right answers to the auditors’ questions in terms of working hours, wage rates, and overtime, et cetera, with promises of bonuses if the auditors were satisfied and implied threats of punishment if serious problems were identified. Thus a highly choreographed audit allows for certain violations—albeit manageable—to be disclosed and promises for corrective action to be taken. Cutting out excessive hours would entail additional costs. For example, a reduction in the average working hours from the current 60-70 hours per week to 48 hours per week would entail approximately a 30 percent + increase in the labor force to maintain the current rate of output. The Indicators of Globalization There are three main economic and ï ¬ nancial indicators of globalization, these are: †¢ international trade in goods and services †¢ the transfer of money capital from one country to another †¢ the movement of people across national borders. Of the three, international trade and foreign investment are the most important. Each of the three indicators will be examined in turn. International Trade International trade means that countries become more interconnected through the exchange of goods and services, that is, through imports and exports. Multinational companies (MNCs) are major traders and account for a large proportion of international trade, with signiï ¬ cant proportions accounted for by trade between subsidiaries within the same company. So for example, Ford makes gearboxes in its factory in Bordeaux and exports them to its assembly plants in other European countries. Around one half of US manufactured exports and more than 60% of its imports ï ¬â€šow within MNCs. International trade has increased more rapidly than global output which has been increasing by around 3% per annum. 2004) Foreign Direct Investment (FDI) FDI is the main source of investment in developing countries. Recent year FDI has increased in these countries due to three reasons: – †¢ The rise of multinational companies †¢ Liberalization of world capital market †¢ Liberalization of world economies As in regard to APPLE INC, it has built factories in china to make its product so it has invested in china which is foreign direct investment. In the recent years FDI has increased in this country due to three reasons: – †¢ The rise of multinational companies †¢ Liberalization of world capital market †¢ Liberalization of world economies The advantages of these FDI are as the following: – †¢ This FDI will allow a country to invest more than their saving. It is a crucial source of investment in a country such as in china where it is difficult to encourage savings. FDI also helps to increase the import than the export. Again a FDI can be assumed as an injection which, in terms has a large multiplier effect in the economy. It creates demand in the receipent country and hence helps to increase real GDP. †¢ FDI helps to increase the employment in a country. For instance, the investment by apple in chine has created jobs for Chinese people to work and earn a living. They, sometimes offer higher wages than other national companies which helps to increases the living standard of that country. For e.g. in 1999 30 million people were employed in the developing countries directly or indirectly by the multi national companies. This has a positive externality in the economy in the long run. †¢ Sometimes FDI goes in the tradeable goods sextor of a country. Thus the c ountries export performance may increase and the country may enjoy higher competitiveness. The disadvantages if these FDI are as the following: – †¢ Multinational companies, such as APPLE tends to send back their profit to their country. This may create a balance of payment deficit in the receipient countries if they fail to increase their export earnings. †¢ Apple tends to use expertise of staffs from their country so the benefit that should come from employment becomes insignificant. †¢ Multinational companies such as these APPLE tends to locate their factories in the urban areas so there may be an increase in inequality in the economy. Again it may create pressure in the urban sector. †¢ There is a risk of tends that multinational companies such as APPLE tends to exploit the natural resources of a country like gas, coal, electricity. Thus in the long- run there may be an environmental degradation and the country may suffer from natural degradation. †¢ Deficit in the long- run- However, FDI may have positive impact on a country but they tend to be fuelled only in some developed countries.