History of Competition Law in India. Its an Emerging Area in the Field of Law

The establishment of British Rule in India left the Indian economy crippled. India served as a dumping ground for the machine made cloth and other factory goods from England and was reduced to a mere raw material supplying colony. After winning Independence against the political competition posed by the British Rulers for many years, India, post independence, started its era of fighting against economic competition, the only difference being that the threat which India faced was now not only restricted to the British rulers but to the whole world which considered India as a dream destination for celebrating the advantages of ‘Globalization and Liberalization’. Winning Independence gave way to the entrance of many big firms into the Indian market exploring opportunities in various trades and businesses. The condition of the Indian market was very weak and vulnerable to face the might of these foreign firms, because India at that time neither had the resources nor the skilled workforce to convert, if at all, such resources to compete with these foreign firms. The technological and scientific capabilities were poor, industrialization was limited and lopsided. Agricultural sector exhibited features of feudal and semi-feudal institutions, resulting into low productivity. In brief, poverty was rampant and unemployment was widespread, both making for low general standard of living. These were the socio-economic settings in which the founding fathers had to chart out a programme of nation-building. The Indian Government, although did not have the weapons to wage war against such fierce competition against the foreign firms but the Government did not fail to rule out the possible defences to resist the competition posed by the foreign firms to protect its own domestic market. The ‘Monopolies and Restrictive Trade Practices Act of 1969’ turned out to be the most sought after ‘Defence Mechanism’. The history of the Indian competitive legislation goes back to the Monopolies Enquiry Commission. In 1964, when the Indian democracy was in its nascent state – barely 17 years old – the Government of India appointed the Monopolies Enquiry Commission to enquire into the effect and extent of concentration of economic power in private hands and prevalence of monopolistic and restrictive trade practices in important economic activity other than agriculture. The commission submitted its report along with the Monopolies and Restrictive Trade Practices (MRTP) Bill, 1965 and on June 1st The Monopolies and Restrictive Trade Practices Act came into existence on 27th  December, 1969. The preamble to this enactment provided it to be  An Act to provide that the operation of the economic system does not result in the concentration of the economic power to the common detriment, for the control of monopolies, for the prohibition of monopolistic and restrictive trade practices and for matters connected therewith or incidental thereto. Therefore, in common parlance, the MRTP Act, 1969 aimed at preventing economic power concentration in a few hands, the intention behind this was to avoid damage, with the end result protecting consumer interest and the economic society at large. HISTORY OF THE MRTP ACT, 1969 Post independence, when the Constitution of India, that is, the Blanket-cover regulator, was being enacted and adopted, the most important Articles which provided for recognising the effect of the MRTP Act, and preventing and avoiding damage were Article 38 and Article 39 of the Constitution, which was adopted and enacted and came into effect on the 26th  day of November, 1949. Article 38 of the Constitution provides for the Directive Principles of State Policy which mandates upon States to secure a social order for the promotion and welfare of the people. This provision recognised the need to eliminate and minimise the inequalities in income, which applied not only to the individuals but also to the groups in different areas. However, the MRTP Act of 1969 owes its existence to the provision provided under Article 39(c) of the Constitution of India which provided that the States shall strive to secure  that the operation of the economic system does not result in the concentration of wealth and means of production to the common detriment. The preamble to the MRTP Act rests on this very provision of the Constitution of India. In the case of  State of Bihar  v. Kameshwar Singh  , the Court was of the opinion, that, a law aimed at doing away with the concentration of big blocks of land in the hands of a few individuals would sub-serve the directives laid down in sub-clauses (b) and (c) of Article 39 of the Constitution of India. Taking this judgment into perspective, the preamble to the MRTP Act, 1969 gets reinstated where the objective or the intention f the legislature behind enacting such an Act is to avoid damage by concentration of economic power in the hands of only a few and thereby causing damage. However, the MTRP Act was not a result of just the two provision of the Constitution of India. After enacting the aforementioned articles, the Government of India assumed the responsibility of overall development of the country. It was incidentally that the Government appointed the ‘Mahalanobis Committeeâ₠¬â„¢ on the Distribution of Income and Levels of Living in October 1960. The main task at hand for this Committee was identifying the pattern of work of large business houses under the ‘planned economy’ regime and whether there was any concentration of economic power. It was after this Committee that the Monopolies Inquiry Commission (MIC) was set-up in 1964 which reported that there was high concentration of economic power in over 85% of industries in India at that point in time. MONOPLIES INQUIRY COMMISSION (MIC) †¢ MIC appointed under Commission of Inquiry Act, 1952 †¢ Scope of inquiry – extent and effect of concentration of economic powers in private hands. TOR excluded agriculture sector and public sector †¢ MIC to suggest legislation and other measures to protect essential public interest and also suggest agency for enforcement of the legislation FINDINGS OF THE MIC †¢ Adverse social effects of economic concentration †¢ Government policies one of the main causes of economic concentration †¢ Managing agency system †¢ New technology – scale of production †¢ Birth of equity culture – increase in size †¢ War efforts of India †¢ Political largesse †¢ MIC used CR3 †¢ Studied 100 products †¢ 64 products were found having CR3 > 75% Infant milk food, biscuits, chocolates, tea, coffee †¢ Dhoti, saree, shirting †¢ Kerosene, coal, petroleum †¢ Lantern, stove, fan, lamp, radio, refrigerator, geyser †¢ Tooth-paste, razor, blade, cigarettes †¢ Vitamins, penicillin †¢ Cars, commercial vehicles, tyres †¢ Cement, sanitary-wares etc †¢ MIC distinguished between industry-wise concentration and country-wise concentration †¢ Large number of industries had either single supplier or one supplier having large share of market. †¢ Collusive behaviour in certain sectors †¢ Entry barrier created by private players Evidence of predatory pricing †¢ Many public sector enterprises enjoyed monopoly †¢ Many restrictive trade practices (RTP) prevalent †¢Hoarding †¢ Re-sale price maintenance †¢ Exclusive dealing †¢ Price fixing †¢ Boycott †¢ Price discrimination â€Å"Big business by its very ‘bigness’ sometimessucceed in keeping out competitors† RECOMMENDATIONS OF MIC †¢ Non-legislative recommendation †¢ Setting up public sector enterprises in sectors which have little competition †¢ Promoting SMEs and Cooperatives to challenge private monopolies †¢ Continuation of license system and import restrictions Proposed an autonomous Commission headed by a Judge to implement a new law. †¢ The proposed commission to have an investigating arm †¢ Punitive powers to the Commission †¢ Scope of merger control limited to merger involving a dominant enterprise (at least 1/3 of share in production/ supply/distribution) †¢ All proposals for expansion by dominant enterprises to be approved by the proposed Com mission †¢ IPRs to be under the purview of the proposed law. MRTP ACT †¢ Made some significant departures from the recommendations of MIC †¢ RTP prohibited MTP – Government can refer to MRTPC for inquiry and recommendation †¢ M & As – powers entirely with the Government †¢ Enterprises having Rs. 200 million in assets and dominant enterprises having Rs. 10 million in assets to seek prior approval of Central Government for expansion or setting up a new undertaking †¢ MRTPC had limited Civil Court powers – enforcing attendance of witness and calling for documents – these powers were not provided to the investigating agency †¢ Trial of offences in the domain of Courts SACHAR COMMISSION †¢ Set up in 1997 to consider the working of MRTP Act and recommend necessary changes. FINDINGS OF THE SACHAR COMMISSION †¢ Reviewed the working of MRTPC during the period 1970-77 †¢ Found that the actual role of MRTPC was limited and mostly advisory †¢ The Government had not made use of the expertise – few references to MRTPC for opinion RECOMMENDATIONS OF THE SACHAR COMMITTEE – I †¢ Definition of dominant enterprise to be changed –enterprises with ? arket share to be termed dominant †¢ Harmonization of definition of ‘goods’ in the MRTP Act with the Sale of Goods Act †¢ Inter-connected undertakings concept to be introduced to the MRTP Act †¢ Government Undertakings to be brought under purview of MRTPC †¢ Compulsory reference by the Central Government on MTPs to MRTPC †¢ All M&As to be referred for advise of MRTPC, if the Central Government so desires. †¢ Division of enterprises - MRTPC to pass final orders if the Central Government referred the matter to it. Certain Unfair Trade Practices (UTPs) like misleading advertisements to be inserted in the Law †¢ Power to compensate against injury †¢ Power to grant interim injunction †¢ Power of contempt †¢ Investigating arm to be provided more teeth by powers of conducting down raids and limited Civil Court powers 1984 AMENDMENT TO MRTP ACT †¢ Many deviations from the recommendations of the Sachar Committee †¢ Concept of deemed illegality to host of trade practices introduced †¢ Exclusionary behaviour, tie in sale, re-sale price maintenance, bid rigging, allocation of market, boycott predatory pricing etc. Registration of agreements by dominant enterprises made mandatory †¢ Mis-representation as well as misleading or disparaging advertisement included †¢ Provisions prohibiting UTPs introduced 1991 AMENDMENT TO THE MRTP ACT †¢ Provisions dealing with monopolistic en terprises seeking prior Government approval deleted †¢ Government Undertakings, Government Corporations and Government owned Companies brought under the purview of the MRTP Act by notification †¢ Granting of injunction without issue of notice to the effective parties PROVISIONS IN PRESENT MRTP ACT Has jurisdiction in RTP & UTP – 14 practices are deemed RTP, but there are gateways in S. 38 †¢ MTP if referred or suo moto, but can only recommend to Government †¢ M & A were deleted in 1991 †¢ Can grant temporary injunction †¢ Has powers of contempt †¢ For disobedience, MRTPC must complain to criminal court RAGHAVAN COMMITTEE †¢ A high level Committee on Competition Policy and Law set up in 1999. †¢ TOR inter-alia included recommending a suitable legislation framework which could either be a new law or appropriate amendments to the MRTP Act FINDINGS OF THE RAGHAVAN COMMITTEE †¢ Word â€Å"competition† used sparsely in the MRTP Act – only twice †¢ Absence of precise definition e. g. Cartels †¢ Inadequate to deal with implementation of the WTO Agreements †¢ No specific powers under the MRTP Act to deal with mergers †¢ Inadequate in dealing with anti-competitive practices as in other modern competition law †¢ Expedient to have a new Competition Law. Competition Commission of India: Duties Competition Act, 2002 notified in January, 2003 – Stated objective (as indicated in Preamble) is to establish the Commission to: †¢ Eliminate practices having adverse effect on competition; †¢ Promote and sustain competition Protect consumers’ interests †¢ Ensure freedom of trade carried on by other participants in markets in India [Section 18]Preamble of the Competition Act, 2002 States: â€Å"keeping in view the economic development of thecountry†, †¢ to prevent practices having appreciable adverse effect on competition; †¢ to promote and su stain competition in trade and industry: †¢ to protect the interest of consumers; †¢ to ensure freedom of trade carried on by the participants in markets in India; †¢ Objectives to be achieved through the establishment of the Competition Commission of India (CCI). The Competition Act, 2002 – new wine in a new bottle There is a significant contrast between the repealed MRTP Act and the Competition Act. The intent of the Competition Act is not to prevent the existence of a monopoly across the board. There is a realization in policy-making circles that in certain industries, the nature of their operations and economies of scale indeed dictate the creation of a monopoly in order to be able to operate and remain viable and profitable. This is in significant contrast to the philosophy which propelled the operation and application of the MRTP Act. The word monopoly is no longer taboo in corporate and political India. The Act declares that person and enterprise are prohibited from entering into a combination which causes or is likely to cause an â€Å"appreciable adverse effect† on competition within the relevant market in India. A system is provided under the Act wherein at the option of the person or enterprise proposing to enter into a combination may give notice to the CCI of such intention providing details of the combination. The Commission after due deliberation, would give its opinion on the proposed combination. However, entities not required to approach the Commission for this purpose are public financial institutions, FIIs, banks or venture capital funds which are contemplating share subscription, financing or acquisition pursuant to any specific stipulation I a loan agreement or investor agreement. The Act definitely is a new wine in a new bottle. The Competition (Amendment) Bill, 2006 The Competition (Amendment) Bill, 2006, contains provisions designed to address the Supreme Court’s concerns. It also proposes to make several other changes in sections of the Act dealing with anti-competitive practices. Some proposed amendments are quite sensible, while others (notably a modified leniency programme for firms that provide information about their participation in a cartel) have been inadequately thought out. The amendments designed to placate the Supreme Court will also have some negative consequences. Several weaknesses in the original Act remain unaddressed. Finally, the scarcity of the kind of economic expertise required to interpret the Act’s multifarious technical clauses also remains a matter of concern. Intensive capacity building and a re-assessment of the Act itself are urgently required. Conclusion The quality of governance of the state is being watched very closely by the citizens, investors and the international community. As more freedom is available to businesses to choose from various countries for investment, the competing governments are also conscious about the role of governance in attracting investment. Any perception that the environment is not conducive to competition and the state has been captured by a few big businesses certainly negatively affects the global investment decisions of firms. The same is also true of the situation within different provinces in a country as same considerations are used by the firms in making investment decisions while choosing locations for establishment of an industry. In a market structure where firms face weak competitive pressures and the profits and prices are predictable the firms have little or no incentive to use resources efficiently. Hence competition is accepted worldwide as the life blood of the market economy. It spurs innovation and higher productivity leading to accelerated economic growth; to the consumers it brings the benefit of lower prices, wider choices and better services. The effect of competition on price and accessibility is best illustrated with an example from Indian telecommunications. Tele-density in India has risen from mere 2. 32 in 1999 to 11. 32 in December 2005-07. Also there has been a dramatic fall in telecom tariffs from Rs. 6 per minute to Re. 1 per minute with increased competition in this sector. Similarly, consumers have benefited from competition in other sectors such as civil aviation, automobiles, newspapers and consumer electronics. The enactment of the Competition Act is a commendable step towards achieving the twin mantra of â€Å"open market economy† and â€Å"liberalization† in a mixed economic system. The need for reform in the legal system with regard to comp etition law has been rightly recognized by the legislative bodies in the country. However, the reforms have not been smooth or speedy which has resulted in a stagnation of the legal framework guiding the corporate sector. Further reforms need to be undertaken as fast as possible to ensure that the development of the nation does not take a backseat due to the pending legal reforms. Reforms must provide for good corporate governance, less of government controls and interference, protection of consumers and public interest, rewarding the merits and all to be achieved as soon as possible because world has also options available other than India.

Alejandro Flores Essay

Write a 2 – 3 page paper that addresses the following: 1. How do Senor Flores, Senora Flores and Dr. Jean view this situation from totally different perspectives? 2. Why might Senora Flores have chosen to consult an espiritista rather than call the clinic when Alejandro was not getting better? 3. Which of the normative cultural values described in the Lecture might apply to Alejandro’s case? Please explain. The Puerto Rican culture has many beliefs involving individual roles within the family. Many believe that the male(s) of the family should work to provide the basic needs of the household: paying rent, bills, paying for groceries, automotive repair, and the like. Similarly, the female(s) of the house should be the primary house keeper and care giver. Familismo holds a large part in the Puerto Rican culture, and the advice of the elder family members is taken very seriously. Religion also plays an integral role in Puerto Rican culture, and some believe illness is the result of sin, punishment, or spiritual discomfort. These beliefs tie together to create culturally diverse situations regarding patients health care, and must be taken into consideration when discussing treatment plans. Senor Flores views this situation from the machismo perspective. His view is to he should be working to provide the means for his family to survive. By taking time off of work to attend Alejandro’s medical appointments, he feels that he is neglecting his cultural responsibility of working hard to meet the needs of his family as a whole. Additionally, he does not believe that the modern treatment has a positive effect on Alejandro’s condition, and he portrays that he would rather allow his mother-in-law to play a more active role in Alejandro’s care. He feels as though every time he is at the appointments, the clinical staff is ostracizing him and attacking him for smoking. Senora Flores is upset about Alejandro’s health condition, and appears to be reaching out for help in different directions. She does not want to give Alejandro all of the medicine he is prescribed, and is taking her mother’s advice by seeking the help of an espiritista. When she arrived to the appointment late, she was greeted poorly because of the tardiness, and doesn’t understand why the clinic staff is rude with her. Many Puerto Ricans believe that tardiness is accepted, even common, and that having a relaxed attitude regarding time is reasonable practice. Additionally, she is frustrated with the language barr ier that presents itself during the appointments. The clinic is providing her so much information, and she feels belittled by the staff when she may not comprehend all of the information they are providing her. She is concerned that Alejandro will be chastised due to the perception that he is weak and unhealthy. She is worried that nothing she can do will better his condition and prayers are not helping. Dr. Jean is concerned with Alejandro’s progress due to the misuse or absence of medications and the lack of Senor Flores’ interest in tobacco cessation for the sake of his child’s health. She desires to help the family, and has given her personal phone number to be accommodating, but instead Senora Flores confided in a housekeeper instead of the doctor. The family’s tardiness is an issue for Dr Jean, but this doesn’t bother her as much as not showing up for the appointment at all. Senora Flores may have consulted with the espiritista due to the lack of confidence in the medication Alejandro is prescribed. This combined with the clinical staff’s attitude toward her, and the cultural belief that illness can be caused by spiritual discomforts, could lead to Senora Flores’ visit to the spiritual healer. Espiritistas use prayers to attempt to rid the patient of spirits causing the disease. Also, Senora Flores’ mother suggested the espiritista visit, and the words and advice of the elder is highly respected in the Puerto Rican culture. All of the normative cultural values present themselves in this module, but the one that applies the most in my opinion is Fatalismo. In the study, the family seems that the fate of Alejandro’s illness is predetermined and nothing they have done or will do to ease h is symptoms will work effectively. 2010 Children’s Mercy Hospitals and Clinics and Children’s Mercy Family Health Partners Cross Cultural Resource Guide pgs. 28-29 Retrieved on April 15, 2012 From: http://www.fhp.org/fhpdocs/CrossCulturalResourceGuide.pdf ELL Assessment for Linguistic Differences guide for Nonverbal Communication. Retrieved on April 17, 2012 From: http://www.ldldproject.net/cultures/puertorico/differences/nonverbal.html

Women fashion

What kind of clothing did women wear in ass's advertisements? Women use to put on dresses that were limited and perfected Just below the knees, head scarf became more popular. Look today isn't as precise as it was in the ass's. Pattern now days are occasional. Women now wear Jean and pants rather than proper gowns. In the ass's female get into gowns at home typically today female would put on something more offhand and easy. The approach of women replaced now a days in the last 73 years, because of the adjustment to the recession, behavior, and the home.I am going to treasure trove how females have changed from ass's advertisements through today. Fashion has not only given to the approval. In the ass's a change in fashion showed up. The war was up so community initiated growing into fashions that feature the dead soldier who fought in the war. So for memorable moment if a person had battle in a war he'd wear his uniform and his partner would wear a plain office skirt. In the ass's wo men fashion was very different from today. In ass's it was socially acceptable to wear full clothing covering everything.Models in ass's saw females expertly designing a line behind their legs, to give the reaction that stocking were frayed. Fewer material was used to form skirts and Jackets, and so they be turned into shorter. A decade back, what was Make 2 treated as brutally awful like females wearing pants, became a normal act. Nonetheless, the pant favored by females were easy long-term or pants with boots. Heels were still decorated by the females with the spontaneity of slim floor. Swing skirts were enough in interest in those days, with the decorative edition the drawing ruing the fresh ass's fashion.Beauty today is basically had the finest body, ideal hair, refreshing clothes, and perfect clothes. Many females view the advertisements for look and appearance, striving to view and be like the female in the ads because it is what the earth says charm is. An ad for Ban deodoran t, for instance, displays an angular, bright young woman adoring her body in the mirror. This apparently has nothing to do with deodorant, but it give the picture to female that using this deodorant makes you look like her.When glancing at ads in both magazines and television, you can barely usually see an ordinary looking woman. Now a day females are consistently advertised as this ideal person with no responsibility or concern, breathing the imagination life because of what they are wearing. Present-day ordinary females look at 400 to 600 ads per day. Today's fashion model's weigh 23% fewer than the ordinary women. Wistfully for women this is proceeding more and more. Women advance themselves to the Max, and in the end it hurts. Women fashion By Tamaki

INTRODUCTION TO LAW AND LEGAL REASONING Essay Example | Topics and Well Written Essays - 1750 words

INTRODUCTION TO LAW AND LEGAL REASONING - Essay Example This paper will critically analyse the above statement that legal interpretation is arbitrary and that judges rely on a variety of techniques to reach the conclusion they prefer rather than using a set of pre-existing rules or standards. An arbitrary decision can be defined as one that is determined by impulse and chance and not by reason or principle. This type of decision is made based on individual judgment or preference.1 When one states that legal interpretation is arbitrary, he or she means that the interpretation of law is made based on one’s judgement or preference as opposed to the use of reason or principle. One problem that characterizes the decisions that are made by judges is that no one apart from the judge clearly knows the basis of those decisions. A judge might cite several aspects from which he or she makes the decision. However, this might not be agreeable to all people2. Generally, the law states that a court’s decision on a certain problem or case must be reached by looking at the available evidence. When a defendant is sued by a plaintiff, the plaintiff should use evidence to prove beyond reasonable doubt that the defendant is guilty3. The defendant should also prove beyond reasonable doubt that he or she is not guilty of the accusations laid against him or her. If this were followed, when decisions are based on this aspect, then it would obviously mean that legal interpretation is not arbitrary. However, an important question that comes up in this respect regard whether judges apply this rule to all their decisions. This is a difficult question to answer because normally the decision comes from the judges and they are the ones who know what they look at before reaching the decision4. The concept of interpretation of the law has different senses. Many factors can determine how an interpretation is made. Interpretations are made from everyday language that legislators use as

What about drugs Essay Example | Topics and Well Written Essays - 500 words

What about drugs - Essay Example Substance abuse is frightening and I pride myself on keeping my body as healthy as can be. Recreational drug users are filling certain needs when they take drugs and this is directly related to the addictive nature as well as the chemical properties of certain drugs. Accordingly, recreational drug users who need their â€Å"fix† are actually filling a need which they themselves have created. We are not born with addictions, such as an addiction to tobacco or cocaine, these addictions are created by us and they become self-fulfilling prophecies. It has been medically proven that physical activity helps people overcome the issues associated with drug use and chemical dependency. Promoting activity, whether it is going to the gym, going for a run or playing a sport, can help people overcome the challenges associated with drug addiction. Children need to know that drugs are out there but that there is a fundamental difference between drugs which are legal and drugs which are illegal. I will talk to my kids about drugs and aim to provide an open forum for them to ask any questions they may have about drug use. Children are naturally curious and many teenagers experiment with drugs in high school. It is important to keep them knowledgeable about the effects of drugs so that they are aware of the ramifications of drug use. Kids should not be encouraged to experiment but they should be given opportunities to ask questions about drugs and expert an honest answer in return. My personal opinion is that alcohol and nicotine are dangerous and that both should be illegal. More people are killed by alcohol related violence or accidents than those cause by drugs such as marijuana and we as a society should not be promoting alcohol as a good thing. Smoking as kills millions of people but it remains legal and the government continues to earn tremendous revenue from the sale of tobacco products. Dangerous drugs

Analysis of Georgia O'Keeffe's Abstraction Blue Essay

Analysis of Georgia O'Keeffe's Abstraction Blue - Essay Example ury and made her presence felt in the artistic world through the magic blend of colors which made her works live across ages.(Decker Judy, 2004) The ‘Abstraction Blue’ was painted in 1927 and proved true to the lucidity and purity her pictures had in general. She grew up in Virginia and had her primary painting education from Chicago. (AHA, 2007).Though she was initially a follower of the abstracted, urban style of art, later her works critically followed the abstract expressionist movement. (AHA, 2007).The ‘Abstraction Blue’ also belonged to the abstract expressionist movement of art and has served as an ideal example of the style. Well belonging to the characteristics of the art movement, this work tried to explore the newer concepts and techniques in oil painting (Moffat Charles, 2008) The variation of darkness in the background proved to be a factor differentiating it with other works with similar themes. The background when blended with the strangeness of the outlook provided uniqueness and newness in the depiction which is a differential factor of the abstract expressionist movement .This made sure that it won’t miss the attention of the viewer. In totality the painting appeared to me as a pretty one paying justice to the artistic value and serving the viewer’s expectation at the fullest. The title of the work ‘Abstraction Blue’ well goes with the concept that the picture depicts. First of all it very well matches with the artistic movement it represents. Considering the role of blueness in the painting, no alternates may fit into the aptness of the current title. The effort of the artist to convey the focused subject and the depth of the elements in the subject are effectively extended to the viewer. The feeling carried by the viewer from the title well matches with what the picture tries to say. The painting represents a very close depictive view of a flower. It represents a zoomed out of focus view of the cross section of a flower. The

The legalization of marijuanna Essay Example | Topics and Well Written Essays - 1750 words - 1

The legalization of marijuanna - Essay Example in regard to the crime of drug use is that it is a self abusive crime, the only victim of the commission of this crime being the person using the drug. The illegal nature of drugs creates all of the victimization associated with drug use. More specifically, marijuana has properties that have the ability to naturally support different types of illnesses. Therefore, it is ethically irresponsible for society to continue to support the criminalization of drugs, especially in the case of marijuana. Through the lens of virtue ethics, one can examine an issue in regard to moral good and moral evil (Darwall, 2003, p. 53). One of the ways in which society has collectively determined that drugs should be criminalized is through the concept that they represent a moral evil. The social point of view is that anything that threatens the perception of safety and normalcy should be criminalized in order to provide perceived protection. The problem with this point of view is that it is blind to the realities of the effects of criminalization which are creating a far more moral evil than the self abuse of drug use represents. The moral evils that are created through criminalization is that it empowers people who have constructed evil intent, most often through greed, to create collaborative efforts that are outside of the control of the state. Virtue ethics is defined by perception. An example is given by Darwall (2003), in regard to two men who can provide another with the same service or advantage, the first man doing the service because he feels it is his moral responsibility and does it through a sense of altruism, where the second man does it because it fulfills an aspect of his own greed. The discussion is centered upon which man will have the greatest amount of sentiment, in this case gratitude, from the person who receives the service. It is the perceived motivation of the person providing the service that creates the level of gratitude as a response (p. 53). The fact is,

Reaching a Position of Chief Radiologic Technologist Assignment

Reaching a Position of Chief Radiologic Technologist - Assignment Example I plan to become a chief Radiologic Technologist by the next five years, that is, in 2018. For me to reach the set goal, there are interim goals I need to achieve to be well equipped and qualified for the position. I have listed these interim goals based on the order I need to achieve from the first to the last. First, is to introduce skill development program within my department. This will ensure that employees are well trained and have the ability and confidence to do their jobs effectively and efficiently. The other benefit of introducing the program is that the senior officers in my department will train me together with other employees on the skills that are appropriate to become an effective leader in Radiologic technology. This will give the skills and outlook of what shall be required of me when I get the position. The second interim goal is to complete my Bachelor Degree in Radiology technology by 2016. This is a requirement for one to take any managerial position within the Radiologic Technology. The third goal is to obtain a managerial position in Diagnostic Me dical Imaging department. I will be a manager in this department for two years after, which I will move to the next goal. The managerial position will assist me in assuming more role and responsibility in my department to prepare me for the Chief of Radiologist Technologist by the end of the year 2018. In doing this, it is my hope that I will be showing to the management my ability to assume higher roles in the department and the organization as a whole. Lastly, I will resume the chief executive position where I will remain until I create the next resolution. The resources needed to meet the set career goal vary accordingly, but some of the interim goals require the same resources. To begin with, the first interim goal, introduction of skill development program, requires thorough research into the type of the training and the equipment appropriate to achieve the skill development goals within the department and research into other departments of the radiologic technology and other organizations that have successfully implemented such training in their departments.     

Friends Owning the Company Essay Example | Topics and Well Written Essays - 750 words

Friends Owning the Company - Essay Example The machine was to cost the company $500 thousand. When James returned, and spoke with his other partners, James explained about the machine, and the price of the machine. The other directors think the machine will cost the company too much money at this time, and the other partners are concerned that the company will be obligated to fulfill the contract. However, if a company enters into a contract of such there are certain limitations to how a company can enter into the contract, and make the contract a binding contract. As it is written with only James’ signature on the contract, and that the signature was not witnessed by anyone else the contract is not binding, and is considered null and void. There are only three ways a company can enter into a legal and binding contract. The contract can be signed with the seal of the company, or it can be signed without the official seal of the company. When the contract is signed without the official seal of the company the contract m ust be signed in the presence of two directors. The contract can be signed in the presence of one director, and a secretary of the company. In this case the contract was signed without the official seal of the company. The contract was signed while James was on vacation. The contract was not witnessed by any other director of the company. ... James should have consulted the other partners prior to signing the contract. Because all partners have managed the company together, and have until this time made decisions together. James thought because the machine offered a way of increasing productivity by 20% that the machine will increase the company’s profits. The remaining partners are not convinced that the machine will increase productivity, and increase profits. If the machine does not increase productivity, and profits, then the company might become bankrupt over the obligation of paying for the machine. The other partners do not want this to occur. When James did not consult the other partners in the decision making, he did not follow company procedures. Because the partners of the company have always discussed important decisions like this, and made decisions together, internal procedures at the company were not followed. James should have discussed with the other partners his intentions to purchase the machine. However, James did not discuss his intentions of purchasing the machine with the other partners. The four partners have always discussed important expenditures like this, because James did not discuss with the other partners the machine, and this large purchase the company procedure was not being properly followed. Company procedure is that all partners must discuss important expenditures with one another, and make a decision about the purchase together. Because, company procedure was not followed the company will not be held responsible for the purchase. James was the principle in the agency principle method of signing a contract for a corporation. James was considered to be doing business with the agent of the machines

Sir Isaac Newton as the Father of Modern Science in Scientific History Research Paper

Sir Isaac Newton as the Father of Modern Science in Scientific History - Research Paper Example Though in the field of physical science his predecessors have excelled in theoretical explanations of the behavior of the physical world, Newton provided theories a solid mathematical ground. He is mostly remembered because of his book â€Å"Philosophia Principia Mathematica† in which he explains the behaviors of moving bodies. Indeed the later development of Einsteinium Physics was greatly contributed to by the Newton’s the ideas and theories that he discussed in â€Å"Principia†. The book â€Å"Principia† brought him the fame and made him a public figure because of its importance to change the commoners’ view of the universe. Obviously Newton’s idea of the universe dominated the knowledge of the physics till Albert Einstein came up with a relative view of the universe in his theory of Relativity. Indeed even after the publishing of Einstein’s Theory of Relativity, Newton concept of the universe continued to teach people about the sys tem and functionality of the universe. Newton’s Contribution to Mathematics Newton’s career began with his study on calculus. Though he invented calculus solely, the credit of inventing calculus fell upon the part of German scientist Leibniz. Anyway, in 1669 on the subject of infinite series Newton’s study paper "De analysi per aequationes numero terminorum infinitas" was greatly appreciated by his contemporaries. Regarding Newton’s genius Isaac Barrow’s comment was as following: "Mr Newton, a fellow of our College, and very young ... but of an extraordinary genius and proficiency in these things." ... Indeed Newton’s Principia was not written in the language of Calculus, though he comprehensively used infinitesimal calculus in geometric forms. In Principia, Newton effectively employed â€Å"limiting values of the ratios of vanishing small quantities† naming it â€Å"the method of first and last ratios.† (Newton, 1727, p. 46) The use of â€Å"limiting values of the ratios of vanishing small quantities† through the method of indivisibles was the first step to employ calculus in explaining the universe. As a result modern scholars often called Principia â€Å"a book dense with the theory and application of the infinitesimal calculus.† (Truesdell, 1968, p. 99) Indeed Newton was â€Å"distinctly advanced every branch of mathematics then studied† (Ball, 1908, p. 67). During his lifetime Newton significantly contributed to the development and a number of fields of mathematics such as â€Å"generalized binomial theorem†, â€Å"Newton's ide ntities†, â€Å"Newton's method†, â€Å"classified cubic plane curves†, â€Å"theory of finite differences†, and â€Å"use of fractional indices and coordinate geometry to obtain solutions to Diophantine equations† (Truesdell, 1968, p. 68). Newton’s Contribution to Physics One of Newton’s most remarkable contributions to science of his age was â€Å"the invention, design and construction of a reflecting telescope† (Gjertsen, 1986, p. 122) . This telescope had been considered as a significant advancement in the field of telescope technology. But his contributions to Optics were of greater importance. Newton spent several years investigating the refraction of light and invented that white light passed through a prism would decompose into a spectrum

See the description Essay Example | Topics and Well Written Essays - 1250 words

See the description - Essay Example As a start, it is important to define what is meant by stereotyping. A stereotype is the creation of a biased view or assumption about a certain ethnic, religious, or social group. In other words, an individual will take the behavior of one person and state that all people belonging to that particular group behave in the same manner.  The problem with stereotyping is that it encourages people to react and behave in a manner that is both judgmental and biased. The first common stereotyping inference people have about Moslems is that they are "extremists" and "terrorists". Moslems are seen as the most common source of terrorism and senseless violence. Besides, Moslems are also viewed as worshippers of an alien deity, who are intolerant of other religions and eager to use physical force to expand Islam. In addition, another negative assumption that people have about Islam is related to the Moslems view towards women. Most of the western world unjustly believes that Islam subjects women to harsh and demeaning discrimination and puts them in a status inferior to men. On the other hand, many western countries identify Moslems as persons who have many physical traits in common, concerning shape and dress. For instance, many people view Moslems as grim bearded men who wear robes and turbans. The negative image the West has about Moslems affect the way they treat Moslem residents in their lands. In many cases, Moslems in foreign countries suffer from extreme cases of discrimination and suppression. One of the Islamic practices that is fought and suppressed by the West is the veil of Moslem women. The veil or "Hijab" is the Islamic dress for females, which requires women to cover all their bodies, except their faces and hands. Moslem women are ordered by God to wear this kind of dress whenever they get out from their homes. So, the majority of Moslem women abides by this rule, and

The Difference Between Negative and Postive Peer Pressure Essay Example for Free

The Difference Between Negative and Postive Peer Pressure Essay Peer pressure is not bad thing. We all are influenced by our peers, both negatively and positively. It helps define who we are and how we feel about subjects in our lives. It is how we chose to react to peer pressure that defines who we are as an individual. Are we a leader or a follower? Both types of people are needed to make the world go around. A healthy part of every childs development is involvement with their peers. This is especially true during adolescence as teenagers develop a sense of independence from their parents. by Bruce A. Epstein, M.D, in The Importance of Peer Pressure! As our children grow our influence on certain subjects diminishes and the influence of peers gains ground. The trick here is to control who the peers are. If your child is hanging out with a group of teens that is into sports, and then he meets someone who is into drugs, his opinion of the teen that is into drugs is going to be Hes stupid! Why? Mostly, because that is the opinion of the teens who are the closest to him. The problem is that the reverse is also true. The difference between negative and positive peer pressure is the outcome. The reverse of the situation above is negative peer pressure. The situation itself is positive peer pressure. Or is it? What if your teen really doesnt like sports, but pushes himself to do it to please his friends or to be accepted? Therefore, he probably doesnt do too well at it, and gets only jabs at his self esteem from the very friends he is trying so hard to impress. That is another form of negative peer pressure. Peer pressure is a normal aspect in our teens lives, as well as our own. As a parent, we need to pick and choose our battles. For example, just because we dont like the current teen fashion does not mean that we have to fight it. When everyone at school is wearing jeans that are five times too big for them, and your teen wants to also, you can cut him some slack. But, if everyone is wearing these jeans down around their knees, you have a battle.

Technology to Reduce Employee Stress

Technology to Reduce Employee Stress STRESS BREAKER METHODOLOGY AND SYSTEM ANALYSIS DESIGN DOCUMENT INTRODUCTION Computers are extremely proficient devices in that they help us with accomplishing more work in less time yet taking a shot at a Computers can be intense on the clients body and brain. This type of work can be stressful and can cause health issues related to brain. Stress is characterized as the bodily and intellectual reaction to intense conditions. Stress is one of the blazing issues that organizations have to deal so that employees can easily produce quality work [2]. Many researchers are of the view that stress has a negative impact on employees performance but at the same time researches have proved that some stressful work conditions are critical to keep employees productive [2]. Stress cannot be eliminated completely as it serves as a driving force if kept at a certain level, so stress needs to be managed [1]. The main focus of this article is to review the literature about the effects of stress and its consequence and how work stress can be managed by taking frequent short breaks in what way music helps to overcome work stress. The relevance review is presented here below. OBJECTIVE Fortunately, stress can be managed by taking frequent short breaks but users often forget to take breaks. As a potential solution, an application will be developed, that gently notifies users to take a break and plays users favorite music based on their consent. This application will be incredibly useful for a lot of people who often forget to take breaks and could increase their productivity. METHODOLOGY In simple terms, methodology is nothing but a system of methods used to develop Application.   The main goal of these methodologies is to make the process more predictable and efficient [11]. Software Development Process Model (SDLC) It is a process of creating or altering information systems, mythologies and models [6]. The Software Development Process Model used to develop this Application is LINEAR-SEQUENTIAL LIFE CYCLE MODEL. It is also referred to as a Waterfall Model. In recent times, the prominent methodological approaches for developing software for a computer based information system are the popular traditional linear-sequential life cycle model [4].As the name itself specifies that the Application development process will be in linear sequential flow. Waterfall model uses a linear approach and is suitable for sequential or procedural design. Fowler [2] confirms that waterfall model divides application based on activities: requirement analysis, design, coding and testing. In The Waterfall approach, complete process of Application development is divided into separate phases. Each phase must be completed before the next phase can begin and there is no overlapping in the phases. The phases involved in waterfalls model are five and they are analysis, design, implementation, testing and operation and maintenance [4]. Fig. The phases of a Waterfall Model (Adapted from Pfleeger and Atlee [4] The sequential phases involved in stress Breaker application development are: Analysis: Analysis describes that what are the requirements needed to develop software system. In general terms it refers to requirement analysis or gathering [1]. This is the first phase in which requirements are gathered from building stress breaker Application. The requirements include Functional Requirements Non- Functional Requirements A functional requirement describes the functionality of the System that is what the Application does with the computation. Use cases are a means to typically capture functional requirements in UML. USE CASE DIAGRAM Represents Dynamic behavior of the Application Use case diagram consists of Actors Use Cases Relationships USE CASE DIAGRAM FOR STRESS BREAKER APPLICATON Steps of execution 1.The user runs the application. 2. After Time event a message box will be displayed The message box contains text and buttons 3. The user can click any button based on his choice Listen music button Cancel button 4a.The user click Listen music button. User gets choice to select the music folder from his desktop Displays playlist message box User has the choice to select previous song ,Next song and Stop song 4b. User click cancel button. Message box is closed Description The user runs the application on his desktop after a specified amount of time period the application executes and display a pop-up Message box. The Message box contains a message and  two buttons. First button has text Listen music when the user selects it, he has a choice to select a  song from music folder from his system. After selecting the music folder a playlist will be displayed providing the user with three more option buttons. The first button is to play previous song. The  next button is for Next Song. Third Button is for stop song. If the user is too busy with his work  or any other important project he has a choice to cancel the message box window by using the cancel button. Functionalities in stress breaker are:   1. The Application executes and displays a pop-up Message box.   2. The Message box contains a message and two buttons. First button has text Listen music The second button is for cancelling. 3a. If the user presses the listen music button user had a choice to select any music folder in his system. 3b. After selecting Music folder user has a choice to select songs of his choice. 4. If the user clicks cancel button the message box will be closed. SYSTEM DESIGN System Design helps in specifying hardware and system requirements and also helps in defining Overall system architecture. NON-FUNCTIONAL REQUIREMENTS Unlike functional requirements Non-functional requirements place constraints on how the system will do .They refer to application non-functional properties, system qualities such as security,accuracy,performance,cost,usability,adaptability,interoperability,reliability and so on.. Typical non-functional requirements include: System information used to develop this application OS Name-Microsoft Windows 10 Pro Version-10.0.14393 Build 14393 Processor-Intel(R) Core(TM) i5-5300U CPU @ 2.30GHz, 2301 Mhz,  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   2 Core(s), 4 Logical Processor(s) Installed memory (RAM)-8.00 GB (7.88 GB usable) System type  Ãƒâ€šÃ‚   -64-bit Operating System,x64-based processor State chat Diagram It describes different states of a components in an Application. State chart diagram describes the flow of control from one state to another state in an application. Implementation This phase is concerned with the physical construction of the software as set out in the design stage. Software requirements needed to develop this application are Programming language Python was chosen for the development of this Application Python 3.5 is used in implementing the code for this application. Python is a widely used general-purpose, high-level programming language [10] [9] [6]. It is fast and powerful programming language and it is portable. Python scripts can be used on different operating systems such as: Windows, Linux, UNIX, Amigo, Mac OS, etc. Python is open source .Even though all rights of this program are reserved for the Python institute, but it is open source and there is no limitation in using, changing and distributing [3]. CONSTRAIN REQUIREMENTS GRAPHICAL USER INTERFACE (GUI) This application is designed using python graphical User Interface (GUI) named Tkinter. Graphical User Interface (GUI) Tkinter is a standard interface that is distributed with Python interpreter. It provides the essential tools for designing GUI. Generated GUIs are in pmw format and they have a similar look on the different platforms. Tkinter are the basic interfaces for designing GUIs in Python [3]. PYGAME MODULE In python programs, code normally contains functions and variables. So when the user quit from our interpreter, all definitions are lost. As user codes get longer, it gets very inconvenient to redefine all the values for variables. To solve this problem, the user has a solution: To support this, Python has a way to put definitions in a file and use them in a Script or in an interactive instance of the interpreter. Such a file is called a module. Module: A module is a file containing Python definitions and statements [5]. Pygame is a set of Python modules designed for writing games and multimedia. It is highly portable and can run nearly every platform and operating system [5]. In this Application pygame feature are used for playing songs. It contains an excellent function for controlling streamed audio. The music module is closely tied to pygame mixer. Here downloaded mp3 songs are converted into the OGG because mp3 support is limited. On some systems an unsupported format can crash the program [7]. INTEGRATED DEVELOPMENT ENVIRONMENT (IDE) IDE used to develop this Application is Pycharm. It is one of the integrated development environment (IDE) used in python programming language. Programming code used to develop this application is interpreted in pycharm. Installation process: Step1:Download python 3.5 from python official website www.python.org based on users operating system Step 2:Install it on users system Step 3:Download pygame from python binaries Location [12]. Step 4:Go to python IDLE folder and then scripts and paste the pygame files in that location Step 5:Go to command prompt type PIP install pygame Step 6: pygame is successfully installed n users computer Step 7: Go to pycharm official website [8] and download pycharm and install it. INTEGRATION AND TESTING After the implementation phase the coding is tested by using pycharm debugger and interpreter. MAINTENANCE After the delivery of the Application, a schedule maintenance and support is put into place, to ensure the Application continues to work as designed. ACCURACY AND PRECISION Since this is a desktop application there is less percentage of failure. Cost: This application is inexpensive to develop because the main requirements, develop this application that is python, pygame are open sourced. They can be downloaded for free from their official website. Usability This application is easy to use. Look and feel standards: Pycharm provides many keyboard shortcuts to run the Application F5 To run the python Application in python (IDLE) Alt+Shift+F10-To run the python Application in pycharm Alt+Shift+F9-To debug python Application in pycharm. Modifiability One good thing about python Tkinter is it has many GUI properties available that make the application even more attractive and efficient. Extra GUI properties that can be added to this application is color texts, scroll bar, bold text and many other features. Response time The response time depends on the user choice. Since, this an alert application which breaks the employee stress. The response time depends on the time set by the user. For example, if the user wish to have breaks for every 50 minutes. Then the response time of the application would be 50 minutes. That is after every 50mintues a pop up box will be displayed specifying the user to take breaks and listen the music of his choice. Activity Diagram Activity diagram is basically a flow chart to represent the flow from one activity to another activity. Processing time The processing time for this application is quick. When the user click the listen music button with in no time delay it automatically opens the folder window so that user can select music folder. When the user selects music folder, it imports all the songs from the music folder and display on the playlist. Overall performance time to run this application less than half minute, which is a very short time. Advantage The main benefit of using a waterfall model in developing stress Breaker Applications is it is inexpensive and quick. TOOLS INSTALATION STEPS TO INSTALL PYTHON3.5 In order to use Python, user must install python on his/her computer. Go to the python website www.python.org Click on the Download   menu choice Click on the Python 3.5 Once user downloaded the file , open it.(Double click it) Installation starts Click finish to exit the installer. STEPS TO INSTALL PYGAME User should make sure that his path variable includes both python directory and the scripts directory. Go to http://www.lfd.uci.edu/~gohlke/pythonlibs/#pygame Click and download pygame package (64bit/32bit) Go to python IDLE folder and then scripts and paste the pygame files in that location. Now user is ready to install pygame. At the command prompt, user should make sure whether he is in the same directory of python and the type pipinstallpygame: Successfully installed pygame. STEPS TO INSTALL PYCHARM Go to www.jetbrains.com Select IDE Option and select python ide for professional developers. Click on download Select the operating system. There is community and Professional edition. Based on user preference he/she can download it. It starts installing The user needs to accept the license. Successfully installed pycharm. CONCLUSION The purpose of this review was to study affirms that workload is one of the reasons for Stress that can be decreased by taking short breaks and Listing to employee choice of music. Stress cannot be completely eliminated, but can be decreased. A simple solution to this is developing an application that help users to overcome from stress by notifying them to take breaks at regular intervals and indulge them in a brain refreshing activity like listening to music. REFERENCES [1] Bennett, S., McRobb, S. Farmer, R. (2002). Object- Oriented Systems Analysis and Design Using UML Berkshire: McGraw-Hill Education. [2] Fowler, M. (2004), UML Distilled a Brief Guide to the Standard Object Modelling Language, Boston: Pearson Education, Inc. [3]Masoud Nosrati, Sahneh Branch, Islamic Azad University, Sahneh,Python: An appropriate language for real world programming , World Applied Programming, Vol (1), No (2), June 2011. 110-117 ISSN: 2222-2510  ©2011 WAP journal. www.waprogramming.com 110 [4] Pfleeeger, S.L. Atlee, J.M. (2006). Software Engineering: Theory and Practice, 3rd Edition. US: Prentice Hall. [5]Nizamuddin, Shreshth Kumar, Rishab Kumar, RESEARCH PAPER ON ENDLESS FUN, Dept. Inform Technology, SRM University, Chennai, Tamil Nadu, May. 2016. [6] Rob, M.A. (2004). Issues of Structured Vs. Objectoriented Methodology of Systems Analysis and Design. Issues in Information Systems, 5 (1). [7]https://www.pygame.org/docs/ref/music.html [8]https://www.jetbrains.com/pycharm/ [9]Programming Language Trends OReilly Radar. Radar.oreilly.com. 2 August 2006. [10] TIOBE Software Index (2011). TIOBE Programming Community Index Python. [11]Ronald G. Wolak, System Development: Research Paper 1 SDLC on a Diet, to Nova Southeastern University, April 2001. [12]http://www.lfd.uci.edu/~gohlke/python.. CONTENT This paper mainly focuses on Methodology needed to develop an Application which helps the user to come out of stress by providing breaks in regular intervals and listen to user favorite choice of music. The software development process model used to develop this application is linear sequential life cycle model. The phases involved in waterfalls model are five and they are analysis, design, implementation, testing and operation and maintenance [4]. In analysis phase all the requirements are gathering in order to develop this application. The functional requirements in stress breaker application are The Application executes and displays a pop-up Message box. The Message box contains a message and two buttons. First button has text Listen music the second button is for cancelling. If the user press the listen music button user had a choice to select any music folder in his system. After selecting Music folder user has a choice to select songs of his choice. If the user clicks cancel button the message box will be closed. In design phase all the hardware components, system requirements are listed above such a Ram capacity, operating system and processor. The operating system is Windows 10, Ram capacity is 8.00 GB and processor is Intel (R) Core (TM) i5-5300U. In third phase that is implementation phase all the software requirements that are needed to develop coding are listed such as a programming language, integrated development environment, software. Programming language is python 3.5, IDE is Pycharm, python module is a pygame. The development code is tested in pycharm IDLE. This Application is easy to maintain and inexpensive, because all the software components needed to develop this application are open sourced and can be easily downloaded and installed. So stress breaker application is easy to maintain and easy to use.

Content and Process Theories of Work Motivation

Content and Process Theories of Work Motivation The work motivation theories can be broadly classified as content theories and process theories. The content theories are concerned with identifying the needs that people have and how needs are prioritized. They are concerned with types of incentives that drive people to attain need fulfillment. The Maslow hierarchy theory, Fredrick Herzbergs two factor theory and Alderfers ERG needs theory fall in this category. Although such a content approach has logic, is easy to understand, and can be readily translated in practice, the research evidence points out limitations. There is very little research support for these models theoretical basic and predictability. The trade off for simplicity sacrifices true understanding of the complexity of work motivation. On the positive side, however, the content models have given emphasis to important content factors that were largely ignored by human relationists. In addition the Alderfers ERG needs theory allows more flexibility and Herzbergs two-fa ctor theory is useful as an explanation for job satisfaction and as a point of departure for job design. The process theories are concerned with the cognitive antecedents that go into motivation and with the way they are related to one another. The theories given by Vroom, Porter and Lawler, equity theory and attribution theory fall in this category. These theories provide a much sounder explanation of work motivations. The expectancy model of Vroom and the extensions and the refinements provided by Porter and Lawler help explain the important cognitive variables and how they relate to one another in the process of work motivation. The Porter Lawler model also gives specific attention to the important relationship between performance and satisfaction. A growing research literature is somewhat supportive of these expectancy models, but conceptual and methodological problems remain. Unlike the content models, these expectancy models are relatively complex and difficult to translate into actual practice. They have also failed to meet the goals of prediction and control Motivation Theory 1 Adams Equity Theory of Work Motivation The theory explains that a major input into job performance and satisfaction is the degree of equity or inequity that people perceive in work situations. Adam depicts a specific process of how this motivation occurs. Inequality occurs when a person perceives that the ratio of his or her outcomes to inputs and the ratio of a relevant others outcomes to inputs are unequal. Our Outcomes Our Inputs Others Inputs Our Outcomes = Others Outcomes = Equity Our Inputs Others Inputs Our Outcomes > Others Outcomes = Inequity (over-rewarded) Our Inputs Others Inputs Both the inputs and the outputs of the person and the other are based upon the persons perceptions, which are affected by age, sex, education, social status, organizational position, qualifications, and how hard the person works, etc. Outcomes consist primarily of rewards such as pay, status, promotion, and intrinsic interest in the job. Equity sensitivity is the ratio based upon the persons perception of what the person is giving (inputs) and receiving (outcomes) versus the ratio of what the relevant is giving and receiving. This cognition may or may not be the same as someone elses observation of the ratios or the same as the actual situation. If the persons perceived ratio is not equal to the others, he or she will strive to restore the ratio to equity. This striving to restore equity is used as the explanation of work motivation. The strength of this motivation is in direct proportion to the perceived inequity that exists. Research suggests that individuals engage in illegal behaviors to maintain equity in relationships, either with their employing organization or with other people (Greenberg, 1990). The theory was later expanded with the concept of Organizational Justice. Organizational justice reflects the extend to which people perceive that they are treated fairly at work. It identified three different components of justice: distributive (The perceived fairness of how resources and rewards are distributed), procedural (The perceived fairness of the process and procedures used to make allocation decisions) and interactional (The perceived fairness of the decision makers behavior in the process of decision-making). (Copanzano, Rupp, Mohler and Schminke, 2001). Critiques: Equity theory is descriptive and it reflects much of our everyday experience. As a theory however equity is only partial in analysis and as a predictor. There are many societal and institutional variables (inequalities) that we all navigate. The theory ignores peoples natural resilience, their competitiveness, selflessness and selfishness, their ethical dilemmas in decision-making and their passions. It does not adequately explain interactions in close relationships such as marriage or emotional labor where we may provide care to others at a burdensome cost of declining personal well-being and self-denial. Norms of equity and reciprocity are often discounted in close and romantic friendships or where there are deep family bonds. In the social exchanges of business, causal, or stranger relationships, there may be more of a dominant assumption that inputs are offered with the expectation of a like response. There is more of a formal contract of tangible and intangible reward. A promise unfulfilled, without proper reciprocity incurs a debt of honor. A promise is broken. In our community, obligations of reciprocal response operate. We are expected to apply the Golden Rule and to help where we can an act ably demonstrated by the Parable of the Good Samaritan. Social exchange theory assumes rational, calculated action involving an expected pay-off. We do not always act rationally. Many will not be as selfish as rational action may suggest. Indeed our reward may be the inner glow of respecting oneself and living to ones own values. Such altruism, albeit self-referential, does not sit easily under the assumptions of the rational, economic-person model. Implications It is necessary to pay attention to what employees perceive to be fair and equitable. For example: In my company, one of my colleagues was assigned to a project that required him to work during non business hours frequently. He worked three days at the office and two days at home in a week for a month and half. This caused others to start working from home during business hours. Allow employees to have a voice and an opportunity to appeal. Organizational changes, promoting cooperation, etc. can come easier with equitable outcomes. Managements failure to achieve equity could be costly for the organization. For example: One of my technically team members was not very competent. He took double the time to complete any give work when compared to the others. Management failed to take any action; instead the others were given more work. Eventually, even the competent workers took it easy to restore equity causing project delays. Motivation Theory 2 Vrooms Expectancy Theory of Motivation: Expectancy theory provides a framework for analyzing work motivation, which is eminently practical. It provides a checklist of factors to be considered in any managerial situation and it points to the links between the relevant factors and the direction, which these factors tend to follow in their interrelationships. (Tony J. Watson, Routledge Kegan Paul, 1986). Expectancy theory holds that people are motivated to behave in ways that produce desired combinations of expected outcomes. It can be used to predict motivation and behavior in any situation in which a choice between two or more alternatives must be made. (Kreitner R. Kinicki A., Mcgraw Hill, 7th Edition). Vroom gave the following equation of Motivation: Motivation (M) = Valence (V) x Expectancy (E) Valence stands for the preference of an individual for a particular outcome. Thus, when an individual desires a particular outcome the value of V is positive. On the other hand when the individual does not desire a certain outcome, the value of V is negative. The value of expectancy ranges between zero and one. When a certain event will definitely not occur the value of E is zero. On the other hand when the event is sure to occur the value of E is one. Since its original conception, the expectancy theory model has been refined and extended many times. The better know of all is the Porter-Lawler model. Although conventional wisdom argues that satisfaction leads to performance, Porter and Lawler argued the reverse. If rewards are adequate, high levels of performance may lead to satisfaction. In addition to the features included in the original expectancy model, the Porter-Lawler model includes abilities, traits, and role perceptions. Critiques: Vrooms theory does not directly contribute to the techniques of motivating people. It is of value in understanding organizational behavior. It clarifies the relation between individuals and the organizational goals. The model is designed to help management understand and analyze employee motivation and identify some to the relevant variables. However, the theory falls short of providing specific solutions to the motivational problems. The theory also does not take into account the individual differences based on individual perceptions nor does it assume that most people have the same hierarchy of needs. It treats as a variable to be investigated just what it is that particular employees are seeking in their work. Thus the theory indicates only the conceptional determinants of motivation and how they are related. Research studies have confirmed that the association of both kinds of expectancies and valences with effort and performance. The motivated behavior of people arises from their valuing expected rewards, believing effort will lead to performance, and that performance will result in desired rewards. The expectancy theory explains motivation in the U.S. better than elsewhere and therefore may not be suitable for other regions. Implications This theory can be used by the managers to: Determine the primary outcome each employee wants. Decide what levels and kinds of performance are needed to meet organizational goals. Make sure the desired levels of performance are possible. Link desired outcomes and desired performance. Analyze the situation for conflicting expectations. Make sure the rewards are large enough. Make sure the overall system is equitable for everyone. Motivation Theory 3 Maslows Theory of Hierarchy of Need: Maslow believed that within every individual, there exists a hierarchy of five needs and that each level of need must be satisfied before an individual pursues the next higher level of need (Maslow, 1943). As an individual progresses through the various levels of needs, the proceeding needs loose their motivational value. The basic human needs placed by Maslow in an ascending order of importance can be summarized and shown as below: The desire to become what one is capable of becoming. These are the needs to be held in esteem both by oneself and by others. These are the needs to belong and to be accepted by various groups. These are the needs to be free of physical danger. The safety needs look to the future. These are the basic needs for sustaining human life itself, such as food, water, warmth, shelter, and sleep. Maslow in his later work (Maslow, 1954) said: Gratification of the self-actualization need causes an increase in its importance rather than a decrease. Long deprivation of a given need, results in fixation for that need. Higher needs may emerge not after gratification, but rather by long deprivation, renunciation or suppression of lower needs. Human behavior is multi-determined and multi-motivated. Critiques: Part of the appeal of Maslows theory is that it provides both a theory of human motives by classifying basic human needs in a hierarchy and the theory of human motivation that relates these needs to general behavior. Maslows major contribution lies in the hierarchical concept. He was the first to recognize that a need once satisfied is a spent force and ceases to be a motivator. Maslows need hierarchy presents a paradox in as much as while the theory is widely accepted, there is a little research evidence available to support the theory. It is said that beyond structuring needs in a certain fashion Maslow does not give concrete guidance to the managers as to how they should motivate their employees. Implications: The need hierarchy as postulated by Maslow does not appear in practice. It is likely that over fulfillment of anyones particular need may result in fixation for the need. In that case even when a particular need is satisfied a person may still engage in the fulfillment of the same need. Furthermore, in a normal human being, all the needs are not always satisfied entirely. There remains an unsatisfied corner of every need in spite of which the person seeks fulfillment of the higher need. A person may move on to the next need in spite of the lower need being unfulfilled or being partly fulfilled. Conclusion No single motivation theory can suffice in todays workplace. Each motivational theory has its pros and cons. A theory may get the highest performance from an employee but may not from another employee. The organizations workplace has changed dramatically in the past decade. Companies are both downsizing and expanding (often at the same time, in different divisions or levels of the hierarchy). Work is being out-sourced to various regions and countries. The workforce is characterized by increased diversity with highly divergent needs and demands. Information technology has frequently changed both the manner and location of work activities. New organizational forms (such as e-commerce) are now common. Teams are redefining the notion of hierarchy, as well as traditional power distributions. The use of contingent workers is on the rise and globalization and the challenges of managing across borders are now the norm. These changes have had a profound influence on how companies attempt to attract, retain, and motivate their employees. Yet we lack new models capable of guiding managers in this new era of work. As management scholar Peter Cappelli notes, Most observers of the corporate world believe that the traditional relationship between employer and employee is gone, but there is little understanding of why it ended and even less about what is replacing that relationship (Cappelli, 1999). I believe that the existing work motivation and job performance theories are inadequate to cater to the present era of such diverse workforce. New theories of motivation are required to commensurate with this new era.

Catherine Morlands Coming of Age in Jane Austens Northanger Abbey Ess

Catherine Morland's Coming of Age in Jane Austen's Northanger Abbey Jane Austen's intelligence and sophisticated diction made her a revolutionary author, and her mastery surpasses most modern authors. By challenging conventional stereotypes in her novels, she gives the open-minded reader a new perspective through the message she conveys. Her first novel, Northanger Abbey, focuses on reading. However, she parallels typical novel reading with the reading of people. Catherine Morland's coming of age hinges on her ability to become a better reader of both novels and people. Austen first introduces Catherine as an unlikely heroine: "No one who had ever seen Catherine Morland in her infancy, would have supposed her born to be [a] heroine" (13). This is the introductory line of Austen's first book, giving the reader the responsibility to realize this is a novel by stating Catherine's heroism. This is important for the reader to understand because Catherine, who loves to read fiction, considers herself to be a heroine in a gothic novel. Therefore, this sets the tone of the story as the reader recognizes the metaphorical gap between the ideal fictional heroine and the flawed Catherine Morland. The modern reader must be aware that, at this point in literary history, the novel was looked down upon as an inferior form of literature, particularly because of the grim and sensational content of gothic novels. Therefore, Austen finds it necessary to argue the vital importance of the novel: "Oh! it is only a novel!" replies the young lady; while she lays down her book with momentary shame--"It is only Cecilia, or Camilla, or Belinda;" or, in short, only some work in which the thorough knowledge of human nature, the happiest delinea... ...The strength displayed by Catherine shows her ability to make her own judgments, which parallels her becoming a woman. With Catherine Morland and Northanger Abbey, Jane Austen has set a new benchmark for what a heroine and novel can be. Through Catherine, Austen shows the danger of becoming immersed in reading and its ability to hinder the judgment between fact and fiction. Reading is a dominant theme throughout the novel, as in both the reading of the gothic novel and the reading of a person's character. When these two notions clash, the reader is forced to decide which activity holds more importance. Austen ingeniously gives the reader an interactive role as a main character in her story by making one realize Catherine's reading ability is directly proportional to her coming of age. Work Cited Austen, Jane. Northanger Abbey. New York: Penguin Books, 1995.

Death of a Salesman: Tragic but Not a Tragedy Essay -- Death Salesman

Death of a Salesman: Tragic but Not a Tragedy Though a more modern version of tragedy in its’ classical sense, Death of a Salesman in many ways is very much like an ancient Greek play. In his ‘Poetics’ Aristotle tries to set out the common ideas throughout tragedy, attempting to demystify the necessary elements for such plays. One of his main ideas was that of the ‘Three Unities’ - that of Space, that of Time and that of Action. He stated that all the action of a tragedy must occur in the place, which was often the front of a palace, which allowed the poet to have many characters coming and going, and allowed random meetings to occur easily, rather than having to ‘explain’ the reason why any meeting should occur. It was, however, possible for the poet to bring in events occurring in other places through the use of messengers, who could talk about the events without the audience seeing them. All the action would have to unfold in one day, and must be played out in ‘real time’ - the time would pass as fast for the characters in the play as for the actors and the audience watching. This prevented the use of act and scene breaks, as time could not jump forward, it had to pass normally. Again references to the past often came in the form of speech from characters whom often had not been seen for a very long time, such as the shepherd in Oedipus Rex who explains how he had come by Oedipus as a baby whilst attending his flock. The entire play had to revolve around a single plot, and subplots, such as you see in many of Shakespeare’s comedies, were not allowed. Aristotle reasoned that if there were other plots interfering with and infringing upon the main plot we could not concentrate entirely on Antigony’s plight, ... ...ccept his refusal to act rationally. An audience can accept that ‘true’ tragic heroes are often irrational, and driven by very different feelings from those of normal human beings, but in the end, Willy Loman does not evoke tragic emotion because he is, simply, a dime a dozen. Works Cited and Consulted Aristotle. Poetics. New York: Dover Publications, Inc., 1997. Baym, Franklin, Gottesman, Holland, et al., eds. The Norton Anthology of American Literature. 4th ed. New York: Norton, 1994. Costello, Donald P. â€Å"Arthur Miller’s Circles of Responsibility: A View From a Bridge and Beyond.† Modern Drama. 36 (1993): 443-453 Florio, Thomas A., ed. â€Å"Miller’s Tales.† The New Yorker. 70 (1994): 35-36. Martin, Robert A., ed. Arthur Miller. Englewood Cliffs, NJ: Prentice-Hall, 1982. Miller, Arthur. Death of a Salesman. New York: Viking, 1965.

Flare Case

Subject: Flare Fragrance Recommendation Background: Flare was founded in 1955 as a small manufacturer of women’s fragrances. Over a period of time, Flare has dominated the fragrance market, generating 9. 5% of the total women’s fragrance market and had grown in to a No. 4 player in the U. S women’s fragrances market. Flare has released 6 brands in the market namely Loveliest, Awash, Summit, Essential, Swept Away and Natural. Economic crisis has impacted Flare’s market share. Sales in 2007 were 12% and by 2008, the estimate was only 2% growth.Flare’s goal for 2009 was to generate $7. 5 million in incremental revenue and reverse declining sales trend. Recommendation: Flare should promote Natural with loveliest umbrella in 18-34 years age range and expand its efforts in the drug store channel. Rationale: 1. Natural fits Flare’s portfolio, both financially and strategically. Promoting Natural with loveliest umbrella will benefit Flare to meet its target sales numbers for 2009. Loveliest brand was introduced in 1975 and it still holds a strong equity in the market.It is positioned as a classic scent in the older age group. These customers will serve as evangelist and contribute to the promotion of Natural brand. As a result of the focus group sessions (ex 5), Projected sales for 2008 for Natural is $9. 1MM(ex 1). Based on forecasted numbers in table1, expected sales for 2009 could be $10. 15MM. Keeping the same communication budget from 2008 of 2. 7 MM to Natural in 2009 (exhibit 4), the expected revenue from Natural would be around 7. 45MM (table 2). 2.Natural is a recent launch under the loveliest umbrella and it is reaching slightly younger demographic, who are looking for the environmentally safer products or so called â€Å"green product† (page# 2). Natural is currently positioned as a chic brand in the younger age group (ex 3). 18-34 year age group women are highly brand aware with sensitivity to premium and pre stige brands and word of mouth is influential for this age group(ex 5). Promoting Natural in the slightly younger age group will benefit Flare’s overall sales. 3.Arlmont’s review of current recession era (page#3), shows that mid-tier and premium brands will be increasingly available in the mass channels. Market development strategy can be used to expand Natural in the drug store. As a result of the focus group sessions (ex 5), 20% of customers shop at the drug store. Flare’s sales at the drug store do not mirror overall market and there is a potential for expansion in that space. Drug store chains have evolved over time and some of them also have high end features like on-site aestheticians to assist shoppers in selecting a particular brand.With the current economic conditions, customer with 18-34 yrs age group would get directed to the drug stores in search of cheaper prices. Placing free samples of Natural in the drug stores and Natural testers in the point of purchase will generate trial. Based on the information from table 3, after increasing the % allocation in drug store for Natural from 0. 5% to 2. 5% in (ex 1), the flare factory sales for 2009 will increase from 9. 1MM to 11. 3 MM. Additional 1. 15 MM can be spent on promotional budget for point of sale samples, expected revenue from natural can be 7. 45MM. Risk: 1.Drugstores would typically sell only Flare’s highest turnover items, which might damage Flare’s relationship with other retail accounts. 2. It can be difficult to position Natural in the 18-34 age group with the loveliest umbrella as women in this age group can perceive loveliest as a classic brand. Table 1 | Natural brand Sales forecast| 2006| 2007| 2008| 2009| 7|   Not available| 9. 1| 10. 15| 2009 sales figures are forecasted based on the % sales increase from 2006 to 2009. Table 2| | Natural brand| 2009 – expected factory sales(MM)| 10. 15| 2009 – communication budget(MM)| 2. 7| Incremen tal revenue| 7. 45| Table3

Tutorial solutions

Customer's business name, address and contact details Type of information (economic / other) Other – details ensure business exists and invoices can be posted to the correct address . Years customer has been in this business Other – establishes track record and history 3. Total assets and estimates of values of assets in the business Economic – establishes size of asset base of business 4. Total liabilities (total commitments) Economic – establishes how much the business currently owes others to assess the extent of claims against assets 5.Profits of the business for the most recent and previous periods Economic – used to assess whether the business generates sufficient profits to cover the payments that will have to be made of their account 6. Credit references Other – enables Ashley to follow up with other businesses the customer already has accounts with, to assess whether the customer has paid their accounts in time and in full 7.Details Of any collateral or security that can be provided should the customer default on their payments Economic and other – Ashley will want to ensure that the business will be able to recover any unpaid amounts by claiming from a third party or having a claim over the assets of the business Page 2 of 19 Exercise 1. 7 Factors in making a government decision Consult the relevant business journal or newspaper article and identify the acts of your case involving an important government decision. Identify the key government decision involved.Discuss the impact of the decision and its relevance to the press and community. Factors to be taken into account in arriving at a government decision include: 2. 3. 4. 5. 6. 8. 9. 10. 11. 12. 13. 14. The nature of the government decision. The government policy dictating the decision. The political impact of the decision. Identifying all parties affected by the government decision. Identifying all the stakeholders (I. E. Parties to which the decisi on will have a positive or negative impact). Identifying any particular lobby or special interest groups involved with the Issue.Identifying the available funding or resources available for the government decision. How is the government initiative to be funded? Identifying the cost of the initiative. Was the decision made in a consultative manner? Was there much political debate or commentary? Possible gains or losses anticipated to be experienced by the community. Possible alternatives which could have been employed by the government. Was the resultant decision considered to be the most efficient use of community resources? Page 3 of 19 Exercise 1. Economic decisions made by management Required: Provide examples of economic decisions that the following people would need to make with the use of accounting information: ; A manager in a sales department Of a shoe store ; A factory manager ; The manager of a state cricket team ; The manager of an animal shelter which relies on donation s for funding Manager of a sales department: Decisions about number of staff required, and when the busy times are (for additional staffing); type and quantity of stock to purchase (based on historic sales figures), cost of inventory researched (for deciding on selling prices and specials / discounts / sales during the coming season); average length of time for which stock is held; stock on hand at any point in time (for purposes of re-ordering); latest fashion trends; information about the demographics of the customer base to enable appropriate stock to be held and appropriate prices to be set. Factory manager: Decisions about appropriate factory staff levels; appropriate plant and machinery capacity to run the factory; costs of raw materials, labor and overhead, such as electricity, in order to make decisions bout goods to be manufactured, production mix; costs of occupational health and safety to make decisions about the most cost effective way to achieve compliance.Manager of a state cricket team: Decisions about the selection and costs of players and coaching staff; appropriate playing and training Venues and their location to the centre of the city; sponsorship enticements and entitlements; purchase of appropriate sporting equipment for training and match days. Manager of an animal shelter: Decisions about the cost of collection systems to receive donations and the most appropriate method of obtaining nations; the cost of maintaining animals in the shelter such as food and veterinary costs; overheads such as electricity, insurance and premises; the costs of full-time employment in the shelter, and the management of volunteers. Page 4 of 19 Exercise 1. 10 The small business owner What types of economic decisions would a person wishing to start their own small business be required to make?How could an accountant assist in making these decisions? The following are examples of the types of economic (financial) and non-financial decisions a small business own er would have to make: A clear definition of the product or service that is to be provided (non- financial), and what the business will charge for these products or services (financial) – this will determine the projected or likely income ; How the business will be funded – will the owners put all the money in or will there be other owners or lenders (non-financial and financial)? ; How the business will market its product or service (non-financial), and how much it will cost to do this? Financial) ; Where the business will be located (non-financial), and what the rental cost will be (financial) How much staff will be required, what skills do they need to perform their jobs properly (non-financial), and how much will they be paid (this will have to be benchmark against other businesses in the same industry or using staff with similar skills and experience) ; What equipment or other assets are required to start the business (non- financial), and how will these be acquir ed and at what cost (financial)? ; Will the business be registered for SST? ; What accounting and information systems are required for the business (non-financial and financial)?This should be adequate to provide information o the owners, and accurately capture transactions that take place, (including any SST components thereof) The above are just some examples of decisions that will need to be made by a person wishing to start a business. There are many others, and it should be noted that many decisions have both a financial and non-financial component – it is therefore often difficult to make non-financial decisions without considering the financial implications and impacts of those decisions. Accountants can help small business owners With the selection of an appropriate accounting system, with regulatory' acquirement such as registering for SST, registering a business name, and applying for tax numbers and other tax obligations (such as PAYS) as required – this wil l depend on the size of the business and what staff will hired.They can also assist by providing the financial information and assisting in the drafting of a sound business plan that covers all the likely financial impacts of the decisions to be made. They can provide book-keeping and page 5 of 19 accounting services to maintain accurate financial records for the business and assist in preparing income tax returns, SST returns and other regulatory porting requirements. Accountants can also help a small business owner prepare a budget for the business, forecast cash flow requirements, and make decisions about which assets to purchase and how best to finance them. CHAPTER 2 FINANCIAL STATEMENTS FOR DECISION MAKING DISCUSSION QUESTIONS SOLUTIONS 2. Define the terms, assets, liabilities, and equity. Are these terms related in anyway? If so, how?Assets are defined in the Framework as resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. Liabilities are defined in the Framework as present obligations of an entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Liabilities require future payments from assets, generally in the form of cash, or the performance of services to cancel them. Equity is the owner's claim to (or the residual interest in) the assets of the entity after deducting all its liabilities. The basic accounting equation (Assets = Liabilities + Equity) indicates the relationship between assets, liabilities and equity.From the equation, the total assets of the entity equal the total claims against those sets by creditors and owners. Creditors' claims take precedence over owners' claims, and owners are seen as the ultimate risk-takers in the entity. Thus, equity is a residual claim on the assets of the entity after liabilities are fully paid, and the basic accounting model whic h expresses this idea clearly is: Assets – Liabilities = Equity 3. A local restaurant is noted for its fine food, as evidenced by the large number of customers. A customer was heard to remark that the secret of the restaurant's success Was its fine chef. Would you regard the chef as an asset of the business? If so, would you include the chef on the balance sheet of the business and at what value?Suggested topics of discussion: Asset definition – â€Å"Assets are resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. † Does the chef provide future economic benefits to the entity? Yes. Is the chef controlled by the entity? In Page 6 of 19 many cases, it is evident that he/she could not be controlled by the entity (e. G. He/she can resign when he/she likes, can take sick days). He/she cannot be â€Å"acquired† or â€Å"sold† by the business, I. . They do not have rights to possess him/her. How would you value the chef as an asset? Usually you have some idea of the â€Å"life† of the asset, however, the restaurant would not know how long the chef would be working for them (this argument relates back to controlling the asset). 6.Discuss the significance of the following assumptions in the preparation of an entity financial statements: (a) entity assumption (b) accrual basis assumption (c) going concern assumption (d) period assumption (a) Entity Assumption If the transactions Of an entity are to be recorded, classified and summarized onto financial statements, the accountant must be able to identify clearly the boundaries of the entity being accounted for. Under the accounting entity assumption, the entity is considered a separate entity distinguishable from its owner and from all other entities. It is assumed that each entity controls its assets and incurs its liabilities. The records of assets, liabilities and business activities of the ent ity are kept completely separate from those of the owner of the entity as well as from those of other entities. The accounting entity assumption is important since it leads to the derivation of the accounting equation. ) The Accrual Basis Assumption Under the accrual basis of accounting, the effects of transactions and events are recognized in accounting records when they occur, and not when the cash is received or paid. Hence, financial statements report not only on cash transactions but also on obligations to pay cash in the future and on resources that represent receivables of cash in future. It is argued in the Framework that accounting on an accrual basis provides significantly better information about the transactions and other events for the purpose of decision making by users of financial statements than does the cash basis. C) The Going Concern Assumption According to the Framework, financial statements are prepared on the assumption that the existing entity is expected to continue operating into the future.It is assumed that the assets of the entity will not be sold off and that the entity will continue its activities; hence, liquidation values (prices in a forced sale) of the entity assets are not generally reported in financial statements, as this assumes that an entity is to be wound up. When management plans the sale or liquidation of the entity, the going concern assumption is then set aside and the financial statements are prepared on he basis of estimated sales or liquidation values. The significance of the going concern assumption is in the valuation Page 7 of 19 placed on the assets of an entity in the mentis financial statements. The statements should identify clearly the basis upon which asset values are determined – going concern? Or liquidation? (d) The Period Assumption For financial reporting purposes, it is assumed that the total life of an entity can be divided into equal time intervals.Hence, the financial performance of the entity can be determined for a given time period, and the financial session of the entity can be determined on the last day of that reporting period. As a result of this assumption, profit determination involves a process of recognizing the income for a period and deducting the expenses incurred for that same period. Together, the period assumption and accrual basis assumption lead to the requirement for making balance day adjustments on the last day of the reporting period. These adjustments will be considered in a later chapter.