Critical Thought Essay Example | Topics and Well Written Essays - 250 words

Critical Thought - Essay Example The critical thought makes it seem as though modern democracies arose out of the thinking of the Ancient Greeks, or that governmental architecture mirrors classical Greek architecture naturally. This, however, ignores the massive historical gap that lies between the two time periods. The modern democracy, and modern nation state, arose not out of the polis, but out of the feudal system of the middle ages. Land ownership requirements existed in many countries into the 19th century for voting rights, for instance, a direct holdover from the feudal, not the classical world. To be truthful to history and to the truth of ourselves, we must recognize that our world in some ways mirrors the prototypes developed by the Greeks not because of natural evolution or happenstance, the mirrors exist because the creators of our societies have actively tried to copy and to call on aspects of ancient Greek culture in architecture, governance and

Assessing Materiality and Risk Simulation Case Study

Assessing Materiality and Risk Simulation - Case Study Example Investors are attracted to companies that have large profits and high dividends repayment. The company management utilizes audit information when making company strategies. Information about profits, losses, and market share help company managers make critical decisions regarding business processes (Boynton & Johnson, 2006). Materiality is the measure of the quantity and quality of item misstatement in a financial report. An audit statement enables the auditor to determine whether auditing has been carried out according to the financial reporting framework. Company items that have no effect on the judgment of the user of the financial statement can be omitted. Important items that affect the users’ judgment require auditor attention. The auditor must allocate materiality to sampled items in order to ensure some accounts are not ignored or under weighted. During auditing, only accounts that matter are audited, and materiality is attached after sampling. Every company has established materiality standards aimed at identifying misstatements in audit reports. Sampled accounts are checked against the set standards to determine the quantity of misstatement (Boynton & Johnson,

Integration of Culture and Diversity in an Organization Assignment

Integration of Culture and Diversity in an Organization - Assignment Example Organization culture serves as deeply embedded form of social control, it bonds people together in an organization and makes them feel part of the organization’s experience and corporate culture helps the employee make sense of the workplace. Hewlett Packard Company operates in a highly competitive environment hence it has found to better served with a culture that engenders efficiency. It operates in an environment that require employees to be dedicated so that it can be successful hence it has practiced an employee-oriented culture. Therefore, Hewlett Packard has engaged organization cultures such as hierarchy, market culture, clan culture and adaptive culture in order to succeed in its operation. Hewlett Packard showed hierarchy culture when Bob as the CEO formed sub-companies located throughout its divisions, geographic regions and occupational groups. Formation of these small companies operates under the ‘mother’ company in America with managers who take orde rs from the CEO who heads the whole organization and take formal rules and policies from the main organization. The purposes of forming these many small organizations are to ensure stability, predictability, and efficiency in order to maintain efficient, reliable, fast, smooth-flowing production. Market culture focuses on the market penetration using diverse outside constituencies such as suppliers, customers, contractors, regulators, and licensees. Hewlett Packard Company has become the world’s leading business because it has successfully incorporated market culture by forming mergers. It has actively integrated compatible mergers with individuals with innovative ideas, business people and other related business to ensure it expands large enough to reach customers in diverse locations in order the company can feel that it total own and have the control responsibility of the merchandise.  

World Finacial Crisis - Impact in the American Economy Term Paper

World Finacial Crisis - Impact in the American Economy - Term Paper Example From the year 2006 the delinquency rate on the home loan has increased and it got severe in the year 2007 because the Federal Reserve has started to increase the interest rates. The house loan where the debtors have to pay floating rate interest they were in problem. So the increase of bad loans led to the failure of the mortgage lenders mainly the banks. Because of the complexity of the financial products the investors and the banks didn’t know the actual size of the losses. As a result the liquidity of the market became less and the lending decrease, as a result the credit crunch has begun. The other reasons for the financial crisis are the borrowing of the households which were beyond their means, poor lending standards taken by the financial institutions, more over the counter transactions, more reliance on short term debts and the credit rating agencies failure to assess the risk. In the era of globalization the financial crisis of world’s strongest economy also af fected the economy of the other countries. In September 2008 Lehmann Brothers was bankrupted and the financial crisis taken place. The report is an attempt to assess the impact on the American economy due to the world financial crisis. This report would find out the GDP growth rate, the changes in the value of dollar, the sector wise impact and the consequent problems caused by the crisis. Growth in the GDP Figure 1: United States GDP Growth Rate Data Source: (Bureau of Economic Analysis, 2011) Gross Domestic Product (GDP) of a country is the representative of the standard of leaving of that particular country and it refers to the value of goods and services produced by the country. The GDP growth of U.S. was affected severely for the financial crisis of 2007-09. The GDP growth has increased 1.9% in the fourth quarter of 2007 from the last quarter. 2008 and 2009, these two years were the two worst years for American economy. In 2008 excluding the 2nd quarter the GDP growth was negat ive throughout the year. In the 4th quarter of 2008 the GDP growth was -9% which was the lowest for a quarter in the period of Economic recession. From the 3rd quarter of 2009 the GDP growth was tend to positive and after that the growth was always positive. This statistics shows that in that time period the economy was not productive at all. All the sectors were affected by the credit crunch situation more or less, as a result the total GDP of the strongest economy declined. The manufacturing industries were unable to get the credit as they get it in the earlier time. The banks and other financial institutions didn’t get the payment from the debtors, so several banks were declared bankrupted, as a result they were unable to issue credit to the business entities when the business organizations are largely depends on debt from the banks. So the productivity of the organizations became less and the GDP growth rate declined. Impact in the Employment Sector Figure 2: The Layoff d ue to the Financial Crisis Data Source: (Auer, Auer and Wehrmuller, 2008) From the above graph it can be said that since the 9/11 the layoffs has risen to the highest level. It can be concluded from the statistics that for the financial crisis not only the GDP of the country declined, the layoff rate also reached to the country’s highest level. The cause of the financial crisis was the disability to pay the debts of the households; as a result the bad debt of the financial institutions has increased. Some financial institu

Analysis of Design for the Real World Book Essay

Analysis of Design for the Real World Book - Essay Example Factors such as market preference always overshadow the ability of the designer to achieve the full potential of any plan conceived. In turn, most designers will seek to satisfy the market preferences first rather than moral and social responsibility. This trend is common with many designers and it has been so for the last few years. It paramount that checks and balances are put in place to protect the designs from deviating so much into the markets. It is very easy for a designer to be consumed by the happenings of a market, so much that he forgets to put in his social and moral responsibility to the society. What this means is that the designs that the particular designer will be dealing with will have more of a sales direction rather than the ethics and responsibilities to nature and humanity. Now the role of a designer as an advocate does not exist. Things are put in the market for the reason that someone or some entity feels that there might be some remittance from introducing a new product. For example, a chair manufacturing company will introduce a new chair to the market only to get some extra coins from the sales. The designers will have to come up with new designs that are not in the market now. Some of the social and moral responsibilities will be broken in order for them to come up with the perfect design. The design might not be perfect but as long as it satisfies the market needs, the bosses will authorize the sale s of the chair. As it, turn out consumer testing must be done on the product before sales are incited. Testing is done regularly on the chairs by asking a group of people to sit on the chair for long hours to see if one of the legs will crumble under the pressure. Sometimes comfort is not in the mind of a designer who is market-oriented.

Financial Reporting and Accountability exam questions Essay

Financial Reporting and Accountability exam questions - Essay Example 6 Consolidations: Qualitative 7 Why do regulators require consolidations? 7 What is fair value and why is it an important concept in consolidation? 7 Why do regulators require inter-company profits to be removed from consolidations? 7 Corporate Governance 8 What is ‘the public interest’ and what is its relationship to accounting? 8 Do we need mandatory regulation of reporting? If so how should we regulate? Are there major problems? 8 IASB and due process – what are the stages of due process – why is convergence with the US important? 9 What is the ‘market for corporate takeovers’ and the ‘market for managers’ – and what impact have these on accounting disclosure? 10 Reporting Financial Statements Why is one of the elements of the financial statements useful to shareholders? Statement of the changes in position of equity for a company provides the movement of the holding position of the equity shareholders. This statement gen erally comprises of the net profits that can be attributed to the shareholders, the changes in the share capital reserves, the dividend that is paid to the shareholder, the effect of the accounting policy changes or the any kind of changes that has been done to correct any error in the previous period. This is an essential statement that needs to be disclosed to the shareholders because the factors that have an effect on the changes in the position can be known. This statement would be reflecting the nature of the changes that take place in the equity reserves which otherwise would not be available to the shareholders. For example the issue and redemption of the share capital can only be obtained from the statement of financial position. What is the purpose of one kind of disclosure e.g. discontinued activities, or expenses such as audit? Discontinued operations of an enterprise would entail those activities by which the company would be selling a component through any transaction o r demerger or would be disposing off the assets or liabilities of the organisation or abandoning any component of the business. It is important for a company to make the disclosures of the discontinued operations because it would help in assessing the cash flows of the enterprise, the capacity to generate earnings and to make proper segregation of the information about the discontinuing operations form that of the continuing operations. Organisations should cite the evidence of auditing process in the annual statements. Thus the fees that are paid for the auditing as well as the non auditing services need to be paid. On the other hand it is considered that the independence of the auditors is essential for a sound and fair auditing process. Hence by the payment of the fees the quality of auditing in the organisation is ensured. Earnings per Share Basic and diluted EPS Basic EPS is the earnings of the company that accrues to the shareholders of the organisation. Basic EPS is derived b y dividing the net profit of the company by the total amount of outstanding shares. The amount net profit is calculated after distribution of the dividends to the preference shareholders. This may be explained with the example of the following example. Suppose the Net Profit available for a company is $ 40000. And the number of equity shares outstanding is 2000. Then the EPS of the company would be $50. Diluted EPS on the other hand is the net profit of the company divided by the number of equ

Native American Religious Studies Essay Example | Topics and Well Written Essays - 1250 words

Native American Religious Studies - Essay Example His studies on this group of people covered the language of Western Apaches, patterns of silence in social interaction, witchcraft beliefs, and ceremonial symbolism, and others. The idea for Wisdom Sits in Places originated from a conducted study of Apache places; how the Apache refer to their land, the place-names; the stories behind the names of each place, and how these place-names are being used in everyday conversations by Apache men and women. The publication is a stunning informative study of the use of landscape and language in the social life of the Western Apaches. And one would find it wonderful how language influence and shape the way a person thinks, and how wisdom can sit in places, and that a race’s language is intimately linked to the land where they sprang. The book is divided into four sections: Quoting the Ancestors, Stalking with Stories, Speaking with Names, and Wisdom Sits in Places. Each chapter revolves around the design that landscape and language serve distinct purpose in the life of Western Apaches. Chapter 4 is a look on the path of wisdom in the Western Apache society. In this, Basso, with the guidance of an Apache friend named Dudley Patterson, explained that there are two conditions of the mind: "steadiness of mind" (bIni gonldzil), and "resilience of mind" (bIni gontliz). These two conditions will in turn lead the person to another mental condition: which he called â€Å"smoothness of mind† (bIni godilkooh), considered being a more desirable mental condition. These three conditions, according to his study, are not inborn; therefore, an individual needs to work on his mind in order to gain wisdom. Working on one’s mind could be through being observant on different places, learn their place-names, and then reflect on traditional narratives that give emphasis on the importance and intrinsic worth of wisdom. The idea of