Enterprise Risk Management Essay Example | Topics and Well Written Essays - 1750 words

Enterprise Risk Management - Essay Example The reason lies in that it lacks the integrated approach to the management of risk which characterises enterprise risk management. It is precisely for this reason that regulators in Canada, Germany, the United Kingdom, the United States, and other developed countries have issued rules and guidelines that advocate an enterprise-wide approach to risk management, further pushing many companies to adopt ERM (Kleffner, Lee and McGannon, 2003). Quite simply stated, the drive towards the adoption of ERM, as opposed to RM is due to the fact that the integrated approach adopted by the former, and which is absent within the context of the latter, is regarded as a more effective and efficient approach to risk management. With that being the case, as this research will argue, the real question relates to the reasons why more corporations do not adopt ERM, as opposed to RM. In order to properly determine the reasons why ERM is considered superior to RM, it is important to define each of the two terms. These definitions will highlight the advantages and disadvantages of either approach and allow for a greater understanding of differences between them. Enterprise risk management has become a significant topic for larg... It provides an active, vital and comprehensive modelling approach for integrating all financial decisions and risks. This includes investment decisions, borrowing policies, liability, and setting of goals (Kleffner, Lee and McGannon, 2003). The comprehensive management of risks and the adoption of an integrated approach to risk management has several benefits. An enterprise with fully diversified losses requires much less capital than an enterprise with concentrated worst-case losses. In turn, the anticipated profitability of the company is affected by the degree of diversification since a reduction in capital will increase expected profits. The goal of ERM is to maximize the firm's overall profit, while maintaining its enterprise risks at acceptable levels (Mudge, 2000). Insurance companies, for example, should analyze their major risks so that adequate capital exists at the firm level to pay insurance policyholders in the event of legitimate insured losses. The desired level of capital depends upon the severity of claims. And since these claims are a direct function of random events, the insurance company must calculate a distribution of losses for its entire operations in order to set the proper level of firm-wide capital (Doherty, 2000). Due to this, Meulbroek (2002) insists that regulatory bodies should check these systems in order to validate that the risk management strategies are reasonably well developed and consistent with current approaches and practice. The firm-wide models are also known as Dynamic Financial Analysis. An ERM system consists of three primary elements. These are 1) a stochastic model for projecting a set of scenarios of the future --the scenario

Reading Books Essay Example for Free

Reading Books Essay Reading a book is one of the best forms of entertainment a person can have. Books can take you places to a time and lifestyle that you will never visit or experience. I remember the old show called â€Å"Reading Rainbow† and it lyrics were gave a very interesting take on books they went like this: â€Å"I can twice as high take a look, it’s in a book A Reading Rainbow, I can go anywhere, Friends to know and ways to grow, Reading Rainbow, I can be anything take a look it’s in a book. † Those lyrics are so true. Reading a book you can read about how life was in the 1700’s up until our generation today. I could be a detective who solves a famous mystery or I could be the killer trying to get away. I can learn to speak another language. There are so many things and topics in reading a book that can change your appearance, your political viewpoints, and change your attitude. Some say that books might become obsolete because movies are made from these books and you can watch the movies in two hours. Watching the movies a person feels that you can get the plot and conclusion of the book in two hours. This is true but for example if it is true life story the movie are going to change some parts of the books to make it more enjoyable, whereas the book is going to give you every detail the author wants you to have. Books gives people a conversation piece just like a movie but the only difference is books can join the world. Movies can’t be seen in some countries but a book can be read. So like the Reading Rainbow says â€Å"take a look it’s in a book†. So in conclusion reading a book is the best form of entertainment. Stephanie C. Williams November 20, 2010

International Studies Essays Global City Process

International Studies Essays Global City Process The global city is not a place but a process (Castells, 1996). Discuss. Castells, 1996, P. 377, deals with the complexity of the interaction between technology, society, and space. It presents the new spatial logic of the information age which Castells famously terms the space of flows. This new space is, according to Castells, the material organisation of time-sharing practices that work through flows (p. 412). It has three layers: 1. The electronic impulses in networks 2. The places which constitute the nodes and hubs of networks, and 3. The spatial organisation of cosmopolitan elites in terms of work, play and movement. Here we focus upon the second layer. Castells identifies global cities as the most direct illustration of hubs and nodes (p. 415). Cities as nodes of these networks are directly linked. Cities are increasingly important in terms of networking on a global scale. The spatial organisation of the information age is characterised neither by focal point of activities nor scattering of settlements and activities. Its both centralisation and decentralisation using the influence of new technologies. The space of the information age is made of architecture of nodes and networks. Territories are united across distance in their function and meaning in the spatial flows, but places continue to exist as privileged locales of experience. The global city is not limited to special cities. Its the global functions of each city in the world connected through electronic and telecommunication links. The financial district of every city, and of every major city in the world, is part of the global network functions. Cities are sources of innovation. Innovation is the source of value addition in our kind of economy and society. Silicon Valley is a node in a major network. One cannot understand Silicon Valley without Mumbai or Bangalore or Munich or other places. Saskia Sassen showed that advanced services are made of global networks anchored in global cities. Networks of innovation are in spatially different dimensions. Network innovation in science is different than in finance, is different than in high-tech or multimedia. But access to these networks, and belonging to these networks, need specific sets of features which are directly related to major metropolitan regions. Metro regions have 1. The connectivity links to fast transportation and telecom systems. 2. They have the largest concentration in quality and quantity of human resources for innovation. 3. They are the spaces of freedom and free communication. Culture and institutions of tolerance are essential to innovation. The ability to attract capital and labour also depends on the visibility of the milieu of innovation and this visibilitys link to media exposure which is centred in major metropolitan areas. The internet is the tool for free communication. Global cities amass immense concentration of economic power while cities that were once major manufacturing centres suffer excessive declines. The business centres in metropolitan areas receive massive investments in real estate and telecommunications while low income urban and metropolitan areas are starved for resources. Highly educated workers in the corporate sector see their incomes rise to unusually high levels while low or medium skilled workers see theirs sink. Financial services produce super profits while industrial services barely survive. Global elements are localized. Immigration has a set a process in international labour markets. Cities are the terrain where people from many different countries are most likely to meet and a multiplicity of cultures comes together. The international character of major cities lies not only in their telecommunication infrastructure and international firms: it lies also in the many different cultural environments in which these workers exist. One can no longer think of centres for international business and finance simply in terms of the corporate towers and corporate culture at its centre. Todays global cities are in part the spaces of post-colonialism and indeed contain conditions for the formation of a post colonialist discourse (see Hall 1991; King 1990). The least spatial patterns of white collar work which are harmonious with its existence, is beginning to emerge in some rural and peripheral areas of major cities of the world. The more highly skilled home-based workers are predominantly immigrants, exploiting skills and market contacts developed. These workers may be of particular significance for the wider development of such regions through the particular competencies and contacts that they bring, as well as the effective demand for locally produced goods and services. The use of electronic data interchange technology is used primarily for the transfer of commercial documents can be extended for use in the home environment. These electronic data interchanges have created the electronic cottage. Extensions to this technology have provided the users and suppliers with new message structures to perform their tasks. This has lead to the increased use of the system for the exchange of information without the necessity for there to be a transaction involved. The use of structures has aided the provider and the user of the information in giving an appropriate vehicle for the exchange of data. An early proponent of this utopia was futurist Alvin Toffler (1980), explained, The electronic cottage rises once more on a mass scale the possibility of husbands and wives, and perhaps even children, working together as a unit. Toffler predicted a decline in the need to commute to work, an increase in the ability to change jobs without having to move ones home to a new location. He foresaw greater community stability and a renaissance among voluntary organizations like churches, womens groups, lodges, clubs, athletic and youth organizations. So in a world of international networks, Castells idealization of flow of information without borders has began to transcend cultural barriers and the impact on employment, work, business, society and culture is profound. Castells suggests that local governments might mobilize local civil societies to support a collective strategy toward the reconstruction of the meaning of the locality in a conflictive dynamics with the placeless powers. (Castells, 1989, p.352) He uses the term placeless powers because of the less evident and more subtle nature of control exercised by the classes, corporations and governments who own and operate the means of production in the new techno-economic paradigm. But the counter-strategy he suggests is organic and slow to take root. The nature of Castells call indicates the difficulty of getting a solid grasp on a global phenomenon composed of such intangible fundamental elements as data, information and knowledge. The flow of information made possible by g lobal networks of communications technology and flexible manufacturing facilities is the key component redefining space in the information age. References: Alvin Toffler (1980) TheThird Wave Castells, Manuel (1996) The rise of the network society. The information age Vol. I Sassen, S (1991) The Global City. Princeton, NJ: Princeton University Press Sassen S (1994) Cities in a World Economy. Thousand Oaks, CA: Pine Forge Press King, A.D. 1990. Urbanism, Colonialism, and the World Economy: Culture and Spatial Foundations of the World Urban System. The International Library of Sociology. London and New York: Routledge.

The Clouds by Aristophanes Essay examples -- Classical Greek Literatur

"The Clouds" by Aristophanes - Relevant in Today's World "The Clouds" by Aristophanes, is a play centrally concerned with education. Aristophanes employs satire to illustrate his conservative beliefs. It is intended to show readers that in the tendency to philosophical subtleties lies the neglection of the real needs of the Athenians. According to Aristophanes, philosophical speculation only acts to shake the established foundations of accepted religion, gods, and ideals of morality. Specifically, as it was even discused in "The Apology," Aristophanes believed that philosophical attitudes held by the Sophists enabled those who held them to convince others of wrong or weaker beliefs simply by sounding as if they knew what they were talking about -- when in reality they didn't. It seems as if Aristophanes would approve of an education based souly around the reading of clasiscal literature and some physical excersize. I believe the fact that Athenian youth were starting to ask questions of the elders in the city really bothered Aristophanes. I think he really thought it to be dangerous and detrimental to society; as can be seen through the line Strepsiades yells towards the end, "revenge for the injured gods (II.i.1506)." I believe Aristophanes to be part of the group that accused Socrates of not accepting the recognized gods of state, which many believed to be a part of the corruption of Athenian youth. While I don't agree with that accusation -- primarily because of Socrates recognition of Apollo through the Oracle at Delphi -- I can see some Aristophanes' points of contention with what he thought the Sophists and other philsophers stood for.   Ã‚  Ã‚  Ã‚  Ã‚  The Clouds, who form the chorus in Aristophanes' play, are a physical representation of the "philosophical speculation" that Aristophanes speaks of. According to Aristophanes, these speculations do not come from a grounded sense of experience, but rather float about without definite framework and actualization, simply in the realm of possibility. I found it interesting that Aristophanes chose to illustrate this metaphor between the clouds and the Sophists' beliefs into a literal representation. He furthered this illustration by choosing to bring Socrates on his first appearance floating in on a basket down to the stage.   Ã‚  Ã‚  Ã‚  Ã‚  Another aspect I find interesting in Aristoph... ...   Ã‚  Ã‚  Ã‚  Ã‚  Essentially, I think that "The Clouds," can be a piece of classical Greek literature applicable to our own modern world. If we do not take the time to examine practices and beliefs, they have the potential to lose the weight and value that they were once based or formed on. While Aristophanes aimed at entertaining his audience through comedic satire, he also had a very serious warning -- that ended up holding true -- for the people of Athens. A nation too proud and too sure in it's own beliefs and politics, has proven through history, never to work. Sadly, while I believe the United States is a great nation with moral goals and hopes, I believe we exemplify some of the problems that the Athenian state suffered from, and eventually died from. We often times refuse to examine our beliefs. We automatically view them as "the best," or "the most moral." This can be seen in our current struggle. If we constantly leave our borders to try and convince others around the world that American knows best, we're doomed for failure. As exemplified in "The Clouds," we then become the ones throwing stones at people we don't agree with -- a fate almost worse than death.

Characteristics of Gothic Literature Essay

The Gothic In 1798 an anonymous author published a commentary that revealed exactly how some writers received the Gothic during this time: â€Å" Take—An old castle, half of it ruinous A long gallery, with a great many doors, some secret ones. Three murdered bodies, quite fresh. As many skeletons, in chests and presses. An old woman hanging by the neck; with her throat cut. Assassins and desperadoes, quant. suff. Noises, whispers, and groans, threescore at least. † (1-7) After reading many of the selections in the anthology, I found this poem on a Gothic’s â€Å"recipe† to be quite true (602). However, in the case of this anonymous writer, he considers all of these characteristics to be negative. I, on the other hand, find it very intriguing that this type of novel developed in a time ruled by writers whose main focus was politics and poetry. Many influential writers including Coleridge and Wordsworth criticized the characteristics, morality, purpose, and significance of these novels; however, I believe many of the features they disliked actually broadened the scope of literature. The Gothic novel was often attacked for being too formulaic. Although the specifics of the plot changed from novel to novel, the characteristics were often similar, which is something that is pointed out repeatedly by the Gothic’s critics. The similarities encountered in the characteristics of these novels include the setting, mystery, and characters to name a few. The setting of this type of novel is usually in a castle of sorts, or in some other mysterious place that produces suspense and terror within the reader. Although these settings were often alike, they â€Å"exist to convey the atmosphere† and are used â€Å"for ends that are fundamentally psychological† (Hume 286). This characteristic is one that set up the entire feeling of the novel, one of suspense, horror, and mystery. The setting of various novels was not uniform because it was the easy or obvious choice like many critics believed, but because it created a certain atmosphere that was needed for the plot. If the story had been set on a sunny beach, the atmosphere would have been much different and the reader would not get the same affect. Like the settings, the mysteries that develop within Gothic novels are usually somewhat similar. From what I have come across, many include a murder or deep, dark secret that is unraveled by an ordinary person. While this may support Wordsworth’s claim that these novels are â€Å"sickly and stupid German tragedies† because of their straightforward plot, I find them to be quite interesting (266). These mysteries create suspense, and were the first â€Å"page-turners† that were ever written. Readers no longer had to decipher long and complicated meanings from pieces such as the â€Å"Lucy Gray† poems; instead, they could sit back, relax, and enjoy these novels that created an escape into a mysterious world. Another piece of the â€Å"formula† that was important to the genre were the characters that were used throughout the novels. The characters were often simple people who were thrown into a situation that required extraordinary actions. While the simplicity of the characters was often criticized by writers who considered themselves to be â€Å"high culture,† these characters had the ability to â€Å"involve the reader in special circumstances† (Hume 286). Unlike the pieces that came before them, the Gothic novel had the capacity to draw the reader in, and put them in the shoes of the main character. For me, it was very hard to feel for the personas in earlier poems that we came across. I think the main reason for this is that the characters tended to be somewhat generic, but interesting. They allowed for anyone to understand the character and immerse themselves within the character’s thoughts. They also allowed for people to sink in to a particular character and feel the terror that they were feeling. Another aspect of the Gothic that was often called into question was the morality of the characters and authors. There are many instances in which these novels incorporated grotesque scenes that included rape and murder among many other things. In The Monk by Matthew Lewis the main character, Ambrosia, is a virtuous and ethical man who seduced by the demon Matilda. In one scene â€Å"his desires were raised to that frantic height by which brutes are agitated†¦ and [he] hastily proceeded to tear off those garments which impeded the gratification of his lust† (598). Ambrosia is obviously an immoral character, and he is criticized for not being so. To me, it seems like critics were getting to the point where they were trying to find anything and everything to criticize about the Gothic novel. While this genre may involve some unseemly characters, they are needed in order to create an interesting plot. Having some sort of villain is necessary in any type of writing that has a mystery or murder involved. Without villains, we cannot have heroes, and both are very important aspects of literature. Coleridge, for example, not only attacked The Monk as a novel but also attacked Lewis as a person for having the ability to create such an immoral character. He believed that â€Å"the merit of a novelist is in proportion†¦ to the pleasurable effect which he produces (604). I highly disagree with this statement because I believe controversy affects change, and change is needed in order to forward society. Novelists and poets were no longer writing poems that had the sole purpose of making a person feel good or empowered; instead, they were writing for entertainment. Also, many of the writers before The Monk addressed political issues that were not considered pleasurable, but controversial and hard to confront. Coleridge’s statement seems to contradict everything that literature stands for. Authors and the literature they create are unpleasant at times, and that is not wrong—it is merely a necessity for the forward movement of society and evolution of literature. Another important issue to address when it comes to these novels is their specific purpose. It seems that every literary movement in history had some sort of motive or driving force behind them. For the Gothic, this driving force or purpose seems to be to induce terror while entertaining. Before this movement, we never really encountered works of literature that were straightforward, suspenseful, and enjoyable all at the same time. In an essay by Aikin and Aikin, they claimed that people would â€Å"rather chuse to suffer the smart pang of a violent emotion than the uneasy craving of an unsatisfied desire† (584). By this, they mean that terror is pleasurable, and that is exactly what these novels delivered to their readers. It was not an emotion that was regularly produced when readers came into contact with the typical works of this time. For a piece of literature to induce such error was something novel and interesting that affected many of their readers. Because terror is an emotion that is hard to come by, these novels were, like I said, an escape for readers. Terror is not something that a person wants to encounter in their real life, but is something they can enjoy and acquire through reading these novels. Their purpose was not to confuse the reader with complicated meanings full of allusions. Instead, these terrifying novels have the ability to â€Å"render the poorest and most insipid narrative interesting when once we get fairly into it† (584). Although many of the authors of Gothic novels may not have been the best composers compared to standards during this time, they were still able to draw in a huge audience because they gave the people what they wanted. I would not consider the narratives â€Å"insipid,† but compared to the works that came before them, they were much simpler and used language that was not considered to be as articulate. This simplicity that is encountered when reading a piece of Gothic work, though criticized, says much about how society was changing during this time. These novels significantly altered the way in which literature was composed and whom it was available to. Instead of being read by the elite few, it was accessible to pretty much anyone who could read. During this time, the percent of literate people was rising rapidly, especially in the middle class. These books appealed to these people, and sold millions upon millions of copies because of this. I think that much of the distaste that so-called â€Å"high culture† writers had for these novels is because of their success. They were extremely popular, more so than the most popular of the poets during this time. For example, Wordsworth was said to be a commercialized version of â€Å"real† poetry because it was easier to understand than many other pieces out during this time. However, he never even came close to selling as many copies of Lyrical Ballads as the Gothic writers did with their own works. For Wordsworth to criticize a genre that feeds off of the readers’ ability to comprehend seems to be extremely hypocritical of him. Also, I think that when something appeals to the masses, it is a good thing. Change cannot occur unless everyone is on the same page, and that is what the Gothic provided to the people. Finally, I would like to confront just how significant this movement is to the literature we have today. This was the first time we encounter a genre that is similar to the types of genres we see today. The Gothic genre was criticized because the novels were too alike—but that is exactly what a genre is, according to today’s standards. One could argue that the novels that are published today are not of the same caliber as novels published 50, 100, or 200 years ago. And maybe that is true, but is it necessarily bad? In my opinion, having novels that are more accessible to more people makes for a better, more unified society. Having works of literature that are too complicated, wordy, or abstract leads to more ambiguity, and eventually creates a divide among social classes. I am not saying that all written works should be easy to understand, but I do think that the Gothic novel was the first in a wave of works of literature that helped society grow more literate. Finally, scholars and everyday people were able to read and talk about the same kinds of things. Although scholars who thought they were better writers were constantly criticizing it, they could not appeal to the masses. Gothic literature had the ability to do this, and you can still see its influence in novels on shelves today. It has a definite place in literary history, and should not be overlooked. It may not have had the deepest plots or the most complicated characters, but the genre had an impact during the 18th century, and continues to have an impact today.

How Muhammad Established Islam As A Major Political And Religious Force In The World Essay

While Muhammad was living with his wife Khadija, he often went to a cave outside Makkah called Hira, where he would reflect and pray. During one night in 610CE, when Muhammad was 40, he was in a cave on Mount Hira. God revealed himself to Muhammad. This was called the night of power, and it relates in Surah 95 of the Qur’an, which is entitled The Blood Clot. When Muhammad returned home, Khadija became his first believer. Then his cousin Ali, a freed slave called Zayd, and one of his closest friends, Abu Bakr, all became followers. There started one of the great religions of the world. Muhammad had a strong belief that there was only one God, the creator. He believed that all humans should be equal in their relationship with this creator. This undermined the tribes of Makkah who, especially the Quarish, rose up against Muhammad and his followers. All through his life, Muhammad fought to establish Islam, to gather followers, and to create a substantial political force. In the 22 years after the first revelation, until Muhammad died in 632CE, God delivered the Qu’ran to Muhammad, his messenger. By the time that God had finished revealing the Qu’ran, Muhammad had moved to Madinah. Hence we get Makkan and Medinan verses. The Makkan verses are usually shorter, more judgemental, and are found towards the end of the Qu’ran. After the second revelation, the night journey, Muhammad migrated to Yathrib, 40 miles north of Makkah, to settle disputes with the pilgrims from that town. He went there with family and followers in 622CE. When he arrived, he built a house, which was later to become the first mosque. He then renamed the town Madinah. This is where the central community was established. After Muhammad died, no one knew if he had named a successor. Usually, it would pass to his eldest son. In the end the leader was chosen by the Muslim community as a person of great personal integrity. This is the belief of the Sunni branch of Islam, who did not want a government, but they wanted to rely on an authoritative ruler. The Shi’a branch believes that the early history was biased against Ali, Muhammad’s cousin. When Ali did become the leader, those who believed Ali to be the true successor formed the separate ‘Party of Ali’. The Shi’a branch wanted a leader from the family of Muhammad. Islam was greatly diversified by the achievements of the first four caliph successors to Muhammad. Here is who they are and what they achieved in their rule: * Abu Bakr (632-634 CE) He and his armies conquered Arab tribes, and they went as far as the Byzantine Empire’s borders. Abu Bakr had more than a personal belief of Islam and he had a belief of political ideology. * Umar (634-644 CE) He continued after Abu Bakr and captured Jerusalem and North Africa. * Uthman (644-656 CE) After Ali turned down the caliphate, Uthman was chosen and he expanded the empire through North Africa and Eastwards to India and China. * Ali (656-661 CE) He made Mu’awiya co-caliph, a disastrous move. Two parties were formed, one supporting Ali, the other supporting Mu’awiya. Islam today is the second largest religion in the world and it is growing fast. It is significant in the modern politics. It also contributes to art, music, architecture and philosophy. The religion has grown to have over 2 billion followers. However recently Islamophobia has stepped in. Islam has been treated very cruelly by the western media in the last few years. However Islam means to surrender, or submit, and it is linked closely to another Arabic word meaning peace. Indeed a Muslim is ‘one who surrenders’.

The Meaning of Myths, Folklore, Legends and Fairy Tales

The Meaning of Myths, Folklore, Legends and Fairy Tales The terms myth, folklore, legend, and fairy tale are often used interchangeably, leading to the misconception that they mean the same thing: fanciful tales. Although its true that these terms may refer to bodies of writing  that answer some of lifes basic questions or present commentary on morality,  each type presents a distinct reader experience. Theyve all stood the test of time, which speaks volumes about their ongoing hold on our imaginations. Myth A myth is a traditional story that may answer lifes overarching questions, such as  the origins of the world (the creation myth) or of a people. A myth can also be an attempt to explain mysteries, supernatural events, and cultural traditions.  Sometimes sacred in nature, a myth can involve gods or other creatures. It presents reality in dramatic ways. Many cultures have their own versions of common myths that  contain archetypal images and themes. One common myth that spans multiple cultures is that of a great flood. Myth criticism is used to analyze these threads in literature. A prominent name in myth criticism is that of the literary critic, professor, and editor Northrop Frye. Folklore and Folktale Whereas myth has at its core the origins of a people and is often sacred, folklore is a collection of fictional tales about people or animals. Superstitions and unfounded beliefs are important elements in the folklore tradition. Both myths and folklore were originally circulated orally. Folktales describe how the  main character copes with the events of everyday life, and the tale may involve crisis or conflict. These stories may teach people how to cope with life (or dying) and also have themes common among cultures worldwide. The study of folklore is called folkloristics.   Legend A legend is a story thats purported to be historical in nature but that is without substantiation. Prominent examples include King Arthur, Blackbeard,  and Robin Hood. Where evidence of historical figures, such as  King Richard, actually exists, figures such as  King Arthur  are legends due in large part to the many stories that have been created about them. Legend also refers to anything that inspires a body of stories or anything of lasting importance or fame. The story is handed down orally but continues to evolve with time. Much of early literature began as legend told and retold in epic poems that were passed down orally originally, then at some point written down. These include masterpieces such as the Greek Homeric Poems (The Iliad and The Odyssey), circa 800 BCE,  to the French Chanson de Roland, circa  1100 CE. Fairy Tale A fairy tale may involve fairies, giants, dragons, elves, goblins, dwarves, and other fanciful and fantastic forces. Although originally  not written for children, in the most recent century, many old fairy tales have been Disneyfied to be less sinister and to appeal to kids.  These stories have taken on lives of their own. In fact, many classic and contemporary books, such as Cinderella, Beauty and the Beast, and Snow White, are based on fairy tales. But read the original Grimm brothers fairy tales, for example, and youll be surprised at the endings and how they differ from the versions that you may have grown up with.

Why are we learning US history

Why are we learning US history Introduction Currently, there are numerous demands from the desire to live in the present and focus on the future. This has resulted from the countless uncertainties that people are faced with. As a result, many students may fail to understand the importance of studying early American history at this point in time when they are supposed to be taught about current issues and how to cope with future contingencies (Holt 76).Advertising We will write a custom essay sample on Why are we learning US history? specifically for you for only $16.05 $11/page Learn More This has made many opt to go for science subjects whose purposes they believe are easy to discern. It has to be noted that history is very important; in fact indispensable. Nevertheless, it results are hardly tangible and may not be seen immediately like those of other subjects such as engineering. Learners ought to know that history is very essential not only to individuals but also to the entire societ y. Understanding the society By studying American history, students are able to understand people and the society well. It is by looking at the history of a specific society that one can be able to unravel the mystery of why the society behaves in a specific manner. There are numerous scientific laws that have been put forward in an attempt to explain human behavior. These laws have only been made to stand their grounds by being based on past experience hence underlining the importance of history (Holt 89). Most of the present students have been born at the time when America has already seen civilization. Consequently, it is very hard for such students to understand that technological innovation has a greater influence in the society. It is only by studying the history of the specific society that they can be able to systematically understand the evolution the society has undergone. It is hard for one to solve current problems without knowing the origin of the problem. For instance, to counter a problem such as alcoholism, people have gone to the extent of investigating how alcoholism has been in the past years. Through this, they have been able to learn variations in rate of alcoholism and factors that have contributed to the variations (Holt pp. 124-132). History has greatly contributed in solving the problem of alcoholism in the society. This is because researchers have managed to predict its trend based on the historical trends. Low voter turnout is a major problem that currently affects the American. It is only by looking at the history of the voter turnout that Americans can come up with a lasting solution to the problem. Consequently, by learning American history, students are in a better position of educating the society on the importance of turning out in large numbers for such events (Stearns 256).Advertising Looking for essay on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More They can base their arguments on some of the challenges that were later experienced after elections and attribute them to low voter turnout thus encouraging voters to participate in elections. With every American looking forward for a healthy political environment, this can only be achieved by revisiting the history of its politics, look at the various changes that have emerged and how they have contributed towards improving it or ruining it. Despite a contemporary analysis of the political environment helping in highlight some of the problems; it can not effectively bring out all the problems affecting the American politics. History has to be leveraged for this to be achieved. Moral understanding and sense of identity History contributes to moral understanding and creating a sense of identity. By studying American history, students are presented with varied complexities and dilemmas that past heroes and heroines came across in the past and how they coped with them. As a result, they become inspi red by them thus working towards improving their standards in bid to be improve their identity and be associated with the past heroes and heroines (Stearns pp. 260-263). It is through studying history that students can understand their background. This would help them identify with a specific lineage and learn how their families have coped with historical changes. History helps in creating good citizenship History is a vital subject towards bringing up loyal citizens. This is one of the major arguments that been used in supporting inclusion of the subject in curriculum. One can not love his or her country without first understanding the hardships it has gone through to reach where it is as well as how and why various institutions have been established. By understanding these, one can gauge his or her country with others, acknowledge the achievements made and look for ways to make it better thus becoming a loyal citizen (Stearns 258). Further, studying history helps one learn how pas t, present and future changes that shape citizens’ lives occur or may occur and the impacts they are likely to have. It is through studying the American history that students will be able to develop mental habits that are important for responsible social conduct. Conclusion It is evident that history is indispensable. For some of the scientific theories to be formulated they have to base their arguments on past historical facts. Consequently, learning the American history helps in understanding the social fabrics of the Americans, how the country has evolved and related with its neighbours thus facilitating in molding students to be loyal citizens in future.Advertising We will write a custom essay sample on Why are we learning US history? specifically for you for only $16.05 $11/page Learn More Holt, Thomas C. Thinking Historically: Narrative, Imagination, and Understanding. New York: College Entrance Examination Board, 1990. Stearns, Peter N. Meani ng over Memory: Recasting the Teaching of History and Culture. Chapel Hill, N.C.: University of North Carolina Press, 1993.

5 Gore Movies That Are Not For The Weak Hearted

5 Gore Movies That Are Not For The Weak Hearted Sitting in a dark theatre with a big screen and great sound may not be always fun. How do you feel watching tongues slashed with surgical knives, the human stomach spilled wide open as if someone is demonstrating the human anatomy and eyeballs rolling out on the floor? The grotesque movies often portray the hidden beasts in humans. If you are weak hearted, watching bucketloads of blood may churn your stomach. Here are 5 films that can take you through gruesome gore rides. Evil Dead A ‘scarefest’ that centers around a terrifying trip undertaken by 5 friends who stumble upon the ‘Book of the Dead’ and play an audiotape of demon-summoning chants accidentally. The gore is painful to the eyes and it can make you cringe. This cult classic, originally made in 1983, was remade in 2013. Both the films were rated NC-17. Ichi The Killer The mayhem portrayed in the movie may be tough to deal with. This Japanese crime movie portrays a psychopath who is manipulated into killing rivals of Yakuza gang. The graphic depictions of cruelty and gore scenes led to this movie being banned in several countries. The director, Takashi Miike, looks out for opportunities to dish out manga-style violence and sexulaity be it Ichi masturbating watching a pimp assaulting a prostitute or Kakihara torturing Suzuki by suspending him from ceiling with giant hooks. Cannibal Holocaust This is a gruesome movie that depicts the concept of cannibalism. The plot is revolves around a lost film-making crew that are abused and murdered by the cannibal Yacumo tribes of the Amazons while shooting a documentary on them. But as the story progresses, the evil intentions of the film crew is surfaced which leave the viewers to think who the real cannibals are. The civilized crew members torture and abuse the natives just to get the perfect shot for their movie who in turn just fight back to protect themselves. This Italian flick was from the perspective of a man who was a part of the rescue team sent to retrieve the film crew and the lost camera footage. Hostel This horror trilogy is full of brutality and bloodshed. Though the characters are different but each part of the ‘Hostel’ trilogy revolves around slaying, killing and decapitating and are some of the scariest and goriest movies of all time. The first part is about two college students who are entrapped in a hostel and are preyed upon by â€Å"The Elite Hunting Club† that tortures and slays the tourists for rich elites. The second and third part of the series also gives vivid graphic description of torturing of the backpackers by the club and mere survival of one of the many personae. The movie series by Eli Roth had a good box office collection despite being opposed to theatrical release because of the violent scenes. Saw Though known as ‘torture porn’ by the critics the series of movies were a financial success in the box office. Saw is known to be the best of horror franchise consisting of eight feature films released every year on Friday before Halloweens, from 2004 to 2010. In Saw VII (2010), the scene where Lawrence saws off his foot using a chain cutting saw is disturbing and can give you nightmares. The story revolves around a man who sets up tests for his random victims to account the will of survival through physical and psychological torments. After separating from his wife and grieving over his dead unborn baby, John is detected to be suffering from inoperable cancer and is dying. So, he plays games with people invading both physical and emotional pain in them, without direct killing. He gives them a chance of survival and the one failing the test lose their lives. He cut-out a piece of flesh in the shape of a missing jigsaw piece from the dead victim, hence attaining the name ‘Jigsaw’. These are some of the all-time bests of movies in the ‘horror’ and ‘crime’ genre that can send a chill down your spines. So, watch them at your own risk!

Logistic and Global Supply Chain Management M&S Case Study Assignment

Logistic and Global Supply Chain Management M&S Case Study - Assignment Example The report outlines and explains the different measures and steps taken by the management of Marks and Spencer (M&S) to change the clothing business and supply chain strategy in order to remain competitive in the industry. Changes made by Marks and Spencer (M&S) in its Clothing Business to enhance its Competitiveness: Marks and Spencer (M&S) is a big name in the UK clothing retail industry. The company has been providing the customers with high quality products at competitive prices. Marks and Spencer (M&S) made record profits until year 1998 and expanded into different international markets (Davies, 1999). However, in 1998 the company faced increasing issues and challenges which resulted in negatively affecting the performance of the organisation and hence the organisation started showing negative results (Christopher and Peck, 2001). The main reason behind these negative outcomes was the long supply chain which decreased the responsiveness of the company (Harrison and Pavitt, 2001; Mellahi, Jackson, & Sparks, 2002). However, the management of Marks and Spencer (M&S) analysed and explored the situation and came up with several changes not only in operational practices but also in its overall clothing business in order to increase the competitiveness in the market. On one hand the company focused on reshaping and redesigning its supply chain order to make sure that the customers are provided with clothes on time according to the changing needs and trends in the market. On the other hand the management of Marks and Spencer (M&S) worked on improving and updating the clothing segment according to the changing requirements and preferences of the customers (Burt, Mellahi, Jackson, & Sparks, 2002). The management of the company came up with different clothing brand lines in order to cater to the needs and requirements of different sets of target customers. As a result the company introduced different brands for its clothing business namely: per una, The Autograph, Th e Perfect Collection, The Classic Collection, Indigo Collection, Blue Harbour, and several other (Harrison and Pavitt, 2001). The management of Marks and Spencer (M&S) came up with different brand identities and positioning statements for its different clothing brands and collections keeping in view the different requirements and needs of the targeted customer segments. This in turn allowed the company to increase the overall sales and enhance the growth and performance. Marks and Spencer (M&S) has learned from its initial mistakes and now is monitoring the marketing trends closely in order to respond to the changes on timely basis with effective and efficient strategies. Due to the increasing competition in the clothing retail industry, the company is facing increasing competition in street retailing from the other clothing retailers in the market like Zara and Primak and for this reason the management of Marks and Spencer (M&S) is spending heavy amount to survive and win in the wa r of street retailing (Ruddick, 2012). On the other hand the management of Marks and Spencer (M&S) is looking for other channels to reach the customers including e-commerce and m-commerce. For instance, the company has also provided the customers with the facility of the online

HIgh Risk Families Essay Example | Topics and Well Written Essays - 1250 words

HIgh Risk Families - Essay Example (2011), pregnancy can develop problem behaviours and increased substance use in teen around 14years of age. This is because of the confounding effect of variables, such as maternal socio-demographic status, mental health and substance use during pregnancy (p.200). During pregnancy, a female undergoes many psychological changes or mood changes. Even matured females are sometimes face problems in adjusting with such mood changes. In the case of teenagers, such mood changes may cause huge damage to their mental health. Depression, anxiety, hallucinations etc are some of the behavioural problems associated with teen pregnancy. It should be noted that the society and family may not welcome teen pregnancy. Under such circumstances, pregnant teenagers may face some kind of isolation both from the family and from the society. Apart from psychological problems, lot of physical problems may occur to pregnant teenagers. Body undergoes huge physiological changes during pregnancy. The immature bo dy of the teenagers may not be able to adjust properly with such changes and subsequently physical problems may arise. Adeyinka, et al. ... Moreover, â€Å"nearly half of all STIs (48%) occur in youth 15 to 24 years of age. In 2008, 17% of new HIV diagnoses were among adolescents aged 13 to 24† (Morbidity and Mortality among Adolescents and Young Adults in the United States, 2011, p.5). The following table provides a rough idea about the sexually transmitted diseases among teenagers. Sexually Transmitted Infection Number of Cases Human Papillomavirus 4.6 million Trichomoniasis 1.9 million Chlamydia 1.5 million Genital Herpes 640,000 Gonorrhea 431,000 HIV 15,000 Syphilis 8,200 Source: Centers for Disease Control and Prevention, 2010 (Morbidity and Mortality among Adolescents and Young Adults in the United States, 2011, p.5) Assessment considerations Teen mothers face lot of social and emotional, psychological and physical problems. Because of pregnancy, teen mothers might not be able to complete their school education. It should be noted that the complications before birth and after the birth of the child may not h elp teen mothers to concentrate on their studies. Lack of education prevents them from securing a decent job. Lack of job will create financial problems to them. Moreover, the children of teenage mothers may not perform well in their studies. The intellectual abilities of such children could be inferior to that of the children of normal mothers. Drop out cases are reported more in the case of children of teenage mothers. Along with these social problems, teen mothers may face lot of psychological and physical problems which were explained earlier in this paper. Family theory related to teen pregnancy Family Stress and Coping Theory seems to be relevant while dealing with teen

Teambuilding Essay Example | Topics and Well Written Essays - 1000 words

Teambuilding - Essay Example The discourse would contain an introductory paragraph prior to delving into the team-building exercise chosen for conflict resolution. Finally, a concluding portion would summarize and highlight details that were discussed in the paper. Teambuilding Groups have been identified to form a crucial and instrumental part contributory to the success of an organization. However, since groups are composed of a collection of people with diverse interests and goals, organizations need to devise strategies that would enable groups to move towards a common goal through frequent interface among them. The term teambuilding actually evolved as â€Å"a technique on human resources departments to promote relations between the executives of a corporation† (Crossover Worlds, n.d.). Its applicability eventually necessitated to be extended to other departments with the aim of improving productivity in work groups and in the resolution of conflicts. In this regard, the aim of the paper is to descri be a team-building exercise for conflict resolution that one would present in an organizational atmosphere; and expound on how it would be conducted. To achieve this objective, the teambuilding exercise chosen was the ‘House of Cards’ developed by Jill Hickman.... 1). The game chosen to assist a team in improving conflict resolution is the House of Cards activity developed by Jill Hickman (Team Building Bonanza, 2011). The concise details of how the activity is to be conducted are hereby quoted below: â€Å"Description: Each team works together to build a 'house of cards' within 15 minutes, using only the resources available in the room and/or provided by the facilitator. A competitive event, each team races against the other teams to be 'first' to finish successfully. All team projects are judged by the facilitator (whose ruling is final and cannot be contested). Project criteria include: Efficient use of resources Esthetic appeal Height Structural integrity Presentation Supplies (resources), one set per team: 32 Index cards 1 stack of Post-it notes (square) 1 Box Paper clips Tape Colored markers Instructions: Provide each team with their supplies. Each team has 15 minutes to build a house with the resources available within the room. Identi fy criteria for judging successful projects. As teams finish, chart their finish times on a flipchart. Once all teams have finished, have teams walk around with the judge (facilitator) to view the work of other teams. (No sabotage!!) At their own tables, have teams discuss the factors contributing/limiting to their success. Have them chart these factors on a flipchart. Each team must elect a spokesperson to present their findings to the rest of the class. Facilitator must award a rating for each project (use a scale of 1-5, with 5 being the highest, for each criterion). Highest possible score: 25 Discussion questions: How was team leadership determined – appointed or assumed? What unique contributions did each member offer? How did those

Society should work for gender neutrality because it benefits both Essay - 1

Society should work for gender neutrality because it benefits both genders. Agree or disagree - Essay Example Gender Neutrality is beneficial for the society because it will create a balance between the individuals living in the society. There will be a more health working and living environment for the residents of the society irrespective of their genders and sexes. But if the society do not focus on this important aspect then it would be a harmful situation in the coming years of life. Women may feel dis-respect because it is obvious that men are treated as a valuable asset in the society. However, an author is of the opinion that women are playing roles that are more important in the society development (Sandberg & Maria 2). The women are fully involved in the personality building of the new generation minds. It is a famous saying that there is always a woman behind every successful man. Some authors are of the opinion that role distribution is based on the physical strength of the men and women. There can be internal hormonal differences between men and women, which are the basis of the strength of the individual (Perrin 2). Therefore, usually women are not assigned those tasks, which they cannot bear upon their body. There is another research study that boys are stronger than girls (FlorCruz 1). However, many critics argue that we should not make hard and fast rules for the responsibilities of men and women. Rather there should be an open choice or preference for both men and women. The equal opportunity availability also give a psychological value and importance, after this, it would be rest on the women that she can do it or not. Gender neutralists strongly support this point of view. Several Governments are involved in the propagation of the idea of the gender equality in their state. Sweden Government is putting efforts to keep women rights (Abend 3). The idea of gender equality or gender neutralism can only be possible when there are policies, rules and regulations regarding this point. Government should take actions to implement this strategy.

Racial profiling in NJ and NY Essay Example | Topics and Well Written Essays - 1250 words

Racial profiling in NJ and NY - Essay Example The allegations on racial profiling continue to provoke debate and partition among members of the communities. Many states have encountered more civil action lawsuits as a consequence of racial profiling allegations. This kind of proceedings is not only costly and time consuming but disruptive to the community and department it serves. Racial profiling is commonly defined as the use of race and used as the â€Å"only† basis for a stop. It is also the exercise of detaining a suspect according to a broad set of criteria which, casts suspicion on the complete class of people lacking of any personal suspicion of the specific person being stopped (Leach, 2001). Durlauf (2005, p 30-31) conducted an assessment on racial profiling and concluded that upon assessment by deontological arguments and/or welfarist, it was known that in traffic stops and searches, general case in support of racial profiling is very weak. The welfarist argument, that reduction of crime rates as far as racial profiling is concerned, has not been proven empirically; studies of race and guilt rates do not identify the prevention effects from the policies. The investigation will explore on the barriers to the citizen complaint system against racial profiling and its corresponding economic costs in Metropolitan Areas of New York and New Jersey. Furthermore, it should provide answers to the following questions: In October 2000 (Leach, 2004), Senator Gormley, announced that the review of racial profiling shall be conducted. The said Committees examined several issues like organizational and cultural issues confronting the Department of Law & Public Safety as well as the NJSP Part of this proposed reform is motivated by the fact, in which CAD or Computer Aided Dispatch System, the RMS or Records Management System as well as the MAPPS or Management Awareness Personnel Performance System (MAPPS) In addition, Durlauf (2001) stated that there is no good justification to believe

Teambuilding Essay Example | Topics and Well Written Essays - 1000 words

Teambuilding - Essay Example The discourse would contain an introductory paragraph prior to delving into the team-building exercise chosen for conflict resolution. Finally, a concluding portion would summarize and highlight details that were discussed in the paper. Teambuilding Groups have been identified to form a crucial and instrumental part contributory to the success of an organization. However, since groups are composed of a collection of people with diverse interests and goals, organizations need to devise strategies that would enable groups to move towards a common goal through frequent interface among them. The term teambuilding actually evolved as â€Å"a technique on human resources departments to promote relations between the executives of a corporation† (Crossover Worlds, n.d.). Its applicability eventually necessitated to be extended to other departments with the aim of improving productivity in work groups and in the resolution of conflicts. In this regard, the aim of the paper is to descri be a team-building exercise for conflict resolution that one would present in an organizational atmosphere; and expound on how it would be conducted. To achieve this objective, the teambuilding exercise chosen was the ‘House of Cards’ developed by Jill Hickman.... 1). The game chosen to assist a team in improving conflict resolution is the House of Cards activity developed by Jill Hickman (Team Building Bonanza, 2011). The concise details of how the activity is to be conducted are hereby quoted below: â€Å"Description: Each team works together to build a 'house of cards' within 15 minutes, using only the resources available in the room and/or provided by the facilitator. A competitive event, each team races against the other teams to be 'first' to finish successfully. All team projects are judged by the facilitator (whose ruling is final and cannot be contested). Project criteria include: Efficient use of resources Esthetic appeal Height Structural integrity Presentation Supplies (resources), one set per team: 32 Index cards 1 stack of Post-it notes (square) 1 Box Paper clips Tape Colored markers Instructions: Provide each team with their supplies. Each team has 15 minutes to build a house with the resources available within the room. Identi fy criteria for judging successful projects. As teams finish, chart their finish times on a flipchart. Once all teams have finished, have teams walk around with the judge (facilitator) to view the work of other teams. (No sabotage!!) At their own tables, have teams discuss the factors contributing/limiting to their success. Have them chart these factors on a flipchart. Each team must elect a spokesperson to present their findings to the rest of the class. Facilitator must award a rating for each project (use a scale of 1-5, with 5 being the highest, for each criterion). Highest possible score: 25 Discussion questions: How was team leadership determined – appointed or assumed? What unique contributions did each member offer? How did those

Racial profiling in NJ and NY Essay Example | Topics and Well Written Essays - 1250 words

Racial profiling in NJ and NY - Essay Example The allegations on racial profiling continue to provoke debate and partition among members of the communities. Many states have encountered more civil action lawsuits as a consequence of racial profiling allegations. This kind of proceedings is not only costly and time consuming but disruptive to the community and department it serves. Racial profiling is commonly defined as the use of race and used as the â€Å"only† basis for a stop. It is also the exercise of detaining a suspect according to a broad set of criteria which, casts suspicion on the complete class of people lacking of any personal suspicion of the specific person being stopped (Leach, 2001). Durlauf (2005, p 30-31) conducted an assessment on racial profiling and concluded that upon assessment by deontological arguments and/or welfarist, it was known that in traffic stops and searches, general case in support of racial profiling is very weak. The welfarist argument, that reduction of crime rates as far as racial profiling is concerned, has not been proven empirically; studies of race and guilt rates do not identify the prevention effects from the policies. The investigation will explore on the barriers to the citizen complaint system against racial profiling and its corresponding economic costs in Metropolitan Areas of New York and New Jersey. Furthermore, it should provide answers to the following questions: In October 2000 (Leach, 2004), Senator Gormley, announced that the review of racial profiling shall be conducted. The said Committees examined several issues like organizational and cultural issues confronting the Department of Law & Public Safety as well as the NJSP Part of this proposed reform is motivated by the fact, in which CAD or Computer Aided Dispatch System, the RMS or Records Management System as well as the MAPPS or Management Awareness Personnel Performance System (MAPPS) In addition, Durlauf (2001) stated that there is no good justification to believe

Biographical Information Essay Example for Free

Biographical Information Essay Regarded by contemporary and recent critics as one of the most notable female poets in Western literature, Elizabeth Barrett Browning wrote Aurora Leigh at the height of her literary career, and the poem is deemed her masterwork in terms of poetics and narrative. Part autobiography and part social criticism, the poem traces the life of an Englishwoman and poet, Aurora Leigh, and is frequently cited as a proto-feminist treatise for its portrayal of difficulties arising for female characters from traditional values and practices of English society. Brownings innovative use of genre, self-reference, and feminine perspective make Aurora Leigh a landmark of nineteenth-century literature. Biographical Information Browning had planned to write a novel in blank verse as early as 1845, and had proposed that the subject would be a critical narrative of ordinary English life. At the time of Aurora Leighs publication in 1857, Browning, supported by her friendship and eventual marriage to Robert Browning in September of 1846, had recovered from a long period of poor health, family catastrophes, and isolation. In 1850, Sonnets from the Portuguese, written during her courtship with Browning, had been published to popular acclaim, and her reputation as a poet, especially of sentimental works, had grown. A son, Robert Wiedemann Barrett Browning, had been born to the couple in 1849, and this seems to have rejuvenated Brownings artistic endeavors. The Brownings began to travel extensively and became involved in politics on the Continent; Barrett Browning subsequently expressed in Aurora Leigh a concern with social issues, particularly the rights of women and the poor, and revealed her familiarity with European and classical literature as well. Aurora Leigh, published in 1857, was the most successful of Brownings works from a commercial standpoint: the book had gone through nineteen editions by 1885. Plot and Major Characters A novel in verse, as Coventry Patmore called it, Aurora Leigh follows the life of its heroine through her birth and childhood in Italy, intellectual development, literary career, and personal relationships. At a young age, Aurora Leigh resists the conventional and complacent English values imposed on her by a maiden aunt who cares for her after the death of her parents, and she discovers the pleasures of literature. Her early creative compositions stir her ambitions to support herself through a poetic career, and in time she becomes moderately successful in London literary circles. In the process of accomplishing this, Aurora rejects a marriage proposal from her cousin Romney Leigh, a wealthy philanthropist and owner of the family estate, who soon rescues a young woman named Marian Erle from poverty. The growing attachment between Romney and Marian is severed, however, by the unscrupulous Lady Waldemar, who is herself in love with Romney. Lady Waldemar contributes to Marians disappearance from London and her reappearance in a Paris brothel, where Marian is sexually assaulted and bears a child. Aurora, on her way to Italy, recognizes Marian in Paris and takes her and her child to Florence. When Romneys socialist Utopian community disastrously fails, he acknowledges the emptiness and hypocrisy of conventional methods of philanthropy, and travels to Florence. After a series of misunderstandings in which Aurora believes Romney has already wed Lady Waldemar, Romney once again asks Aurora to marry him. This she does, recognizing that art needs to be aided by love and partnership in the process of self-realization. Major Themes Browning addressed several major social issues in the narrative of Aurora Leigh—the relationship between art and individual self-fulfillment, the issue of class politics, and the issue of gender roles. The work suggests that individual freedom, regardless of class or gender, allows for inner development and the cultivation of creativity and inspiration. However, the novel-poem shows sensitivity to other aspects of the creative process, such as the background to the production of any artistic work and the source of creativity in turmoil and conflict. Furthermore, Aurora Leigh intricately weaves the political implications of Brownings own strong individualism and her emphasis on the actualization of ones lifes work into Aurora Leighs struggle to find her place, as a woman poet, in the traditional social order found in the poem. In addition, the work focuses on the institutionalized sexism and classicism of the Victorian age, and directs its severest criticism at conventional philanthropy as hypocritical and paternalistic. Also, Aurora Leigh depicts, through the character of Marian Erle, the horrific consequences of the abuse and neglect suffered by the poor—particularly poor women. The subplot of Marian and her child also censures the Victorian tendency to reject those who have been sexually attacked, and argues for greater concern for and treatment of the innocent victims. Critical Reception Despite its tremendous popular success, Aurora Leigh received mixed reactions from contemporary critics. Many, in addition to calling it immoral, found fault with its characterization, plot, and language; others, however, found the work proof of Brownings poetic genius. The poem was largely neglected by subsequent critics until the early 1930s, when Virginia Woolf s enthusiastic article on the poem was published. The emergence of feminist criticism helped spark renewed interest in the work, although Aurora Leigh is not unanimously accepted as a precursor to modern feminism. Commenting on the poems conclusion in particular, many feminist critics have regarded Auroras acceptance of marriage as the beginning of her loss of independence. Others have found in the ending a radical deviation from traditional nineteenth-century thought—instead of losing her independence through marriage, Aurora gains a rewarding and satisfying life through the blending of her artistic achievement with the love and partnership of another. According to several twentieth-century critics, this innovation is echoed in Brownings style: although contemporary reviewers criticized her unconventional poetic tendencies, more recent scholars consider her style to be innovative. Altogether, Aurora Leigh illuminates both Brownings artistic strengths and her weaknesses: she is praised for her ability to express passionate emotion, yet she is criticized for choosing such an abstract topic for Aurora Leigh as her highest convictions upon Life and Art. She is commended for her lyrical tone and innovative use of imagery, yet she is criticized for her verbose style, improbable plot, and unrealistic characters. In light of fervent endorsements of the poem by such literary figures as Emily Dickinson and Virginia Woolf, Aurora Leigh is generally judged to be a masterwork with noticeable flaws and remains highly significant to contemporary literary historians and critics.

Methods Used for Process Costing

Methods Used for Process Costing A process costing method is used for Indus trick producing chemical, petroleum, textile, and flour, pharmaceutical, shoos and coal. This type of costing is also used by firms manufacturing such things methods is the assembly type industry which manufactures such things as type writers, automobiles. Airplanes and house hold electric appliances. Finally certain service industries, such sagas, water, and heat, cost their products by using process costing methods. In fact process costing procedure are often termed continuous or mass production cost accounting procedure. http://www.principlesofaccounting.com/ART/c20art/steelprocess.JPG What is Process Costing? Process costing is a type of costing system that is used for uniform, or homogeneous, products. Process costing averages the costs over all units to come to the per unit cost. This is in contrast to other types of costing systems, such as job-order costing that is used for products that are in differentiated batches. Unlike job-order costing, process costing is tracked using a work-in-process account for each department, rather than through subsidiary ledgers] Process Costing In accounting, process costing is a method of assigning production costs to units of output. In process costing systems, production costs are not traced to individual units of output. Costs are assigned first to production departments and then to units of output as they move through the departments. The process costing method is typically used for processes that produce large quantities of homogeneous products. The process costing method is in contrast to other costing methods, such as product costing, job costing, or operation costing systems. Using the process costing method is optimal under certain conditions. If the output products are homogeneous, that is, the units of output are relatively indistinguishable from one another, it may be beneficial to use process costing. If the output products are of low value, meaning each individual unit of output is not worth much, it may be beneficial to use process costing. And if it is difficult or infeasible to trace production costs directly to individual units of output, it may be beneficial to use the process costing method. Examples of operations that are likely to use the process costing method as opposed to another costing method include a cola bottling plant, a breakfast cereal maker, a company that makes computer chips, and company that produces lumber, and a company that produces bricks. For example, for the company that bottles cola, it would not be feasible or worthwhile to separate and record the cost of each bottle of cola in the bottling process. Therefore, the company would assign costs to the bottling process as a whole for a period of time, and then divide that overall process cost by the number of bottles produced during that period of time to assign production costs to each bottle of cola. Process Costing Methods 5 Steps for Process Costing Analyze inventory flow Convert in-process inventory to equivalent units Compute all applicable costs Calculate the cost per unit of finished and in-process inventory Allocate costs to units of finished and in-process inventory First, analyze the cost-flow model of the relevant inventory account to determine how much inventory was there at the beginning of the period, how much was started during the period, how much as completed during the period, and how much is left as work-in-process at the end of the period. Second, convert the work-in-process ending inventory into a number of equivalent units produced. This means if there are 1,000 units of inventory in work-in-process, and these units are all 50% complete, then you consider this as the equivalent of 500 units produced (500 = .50 x 1,000). Third, compute the total direct and indirect costs incurred by the production process that need to be assigned to the units completed and the units still in process. This includes the costs associated with the beginning inventory and the costs incurred during the relevant period. Fourth, calculate the amount of cost to be assigned to the completed units of output and the equivalent of completed units of output still in the ending inventory. For example, if 2,000 units were completed, and 1,000 units were left half-finished, then you would divide the applicable costs by 2,500 units. Fifth, allocate the relevant costs to the units of product that were completed and to the units of product that remain in the work-in-process account. Source: Hilton, Ronald W., Michael W. Maher, Frank H. Selto. Cost Management Strategies for Business Decision, Mcgraw-Hill Irwin, New York, NY, 2008. Process Costing Procedures Process costing systems follow specific procedures, and while exact procedures may vary by company or by industry, they will generally follow these steps: While other types of costing start with a sales order, a sales order is not needed for process costing as it is a continuous process The work-in-process accounts are divided by department and are named as such for example: Work-in-process Department Name The first department in the process makes the first entry into the work-in-process account, generally for the direct raw materials As the products move from department to department, entries are made to each work-in-process department account Direct labor costs are recorded by period Actual overhead costs are recorded; no contra-account is needed because there is no over- or under-applied overhead due to the actual cost being applied Indirect costs are applied to the overhead account in actual amounts Normal spoilage is recorded as a cost to the work-in-process account; abnormal spoilage is removed from the work-in-process account and applied to a separate account so it can be addressed by management. When Is Process Costing Appropriate? Process costing is appropriate when products are homogeneous (or identical). Where job-order and other types of costing seek to find the cost per unit for batches of differentiated products, process costing seeks to find the average cost of all units over a period of time. Therefore, process costing is only appropriate when all units are the same. For example, a manufacturing company that produces only one homogeneous product may elect to use process costing. Characteristics and process of costing. The characteristics of process costing are: A cost of production report is used to collect, summarize, and compute total and unit cost. Production is accumulated and reported by departments. Costs are posted to departmental work in process accounts. Production in process at the end of a period is restated in terms of completed units. Total costs charged to a department are divided by total computed production of the department in order to determine a unit cost for a specific period. Costs of completed units of a department are transferred to the next processing department in order to arrive at the total costs of the finished products during a period. At the same time, costs are assigned to units still in process. Characteristics and procedure. Accumulate material, labor, and factory over head costs by departments. Determine a unit cost for each department. Transfer costs from one department. Assign coast to the inventory of work still in process. If accurate unit and inventory costs are to be established by process costing procedure, costs of a period must be identified with units produced in the same period. Features/Characteristics of Process Costing Process Costing Method is applicable where the output results from a sequence of continuous or repetitive operations or processes and products are identical and cannot be segregated. Process Costing enables the ascertainment of cost of the product at each process or stage of manufacture. The following features may be identified with process costing: The output consists of products which are homogenous. Production is carried on in different stages (each of which is called a process) having a continuous flow. Production takes place continuously except in cases where the plant and machinery are shut down for maintenance etc. Output is uniform and all units are identical during each process. It would not be possible to trace the identity of any particular lot of output to any lot of input. The input will pass through two or more processes before it takes the shape of the output. The output of each process becomes the input for the next process until the final product is obtained, with the last process giving the final product. The output of a process (except the last) may also be saleable in which case the process may generate some profit. The input of a process (except the first) may be capable of being acquired from the outside sources. The output of a process is transferred to the next process generally at cost to the process. It may also be transferred at market price to enable checking efficiency of operations in comparison to the market conditions. Normal and abnormal losses may arise in the processes There are a number of industries in which process costing can be applied. Elements/Components of Cost Process, cost, accounting, recording, direct, indirect, costs For the purpose of cost accounting, the process industry is divided into separate departments with each department representing a specific process. The Direct Material and Direct Labor/Labor Costs are collected for each department separately and the overheads which are collected over all the departments/processes are apportioned over the various departments/processes on some rational basis. The following are the main elements/components of costs involved in the manufacturing process where process costing method is adopted. Direct Materials There are two types of materials that we come across in process costing. Primary Material Materials which are introduced in the initial process and passed on to the next process as a part of output after completion of processing. Secondary Material Materials which are introduced in the first or subsequent processes in addition to the main material introduced in the initial process. This gets mixed up with the main material and is passed on to the subsequent processes as a part of the output. Direct Labor/Labor The direct labour/labor cost is generally incurred in every process. Identification of direct labour cost is also relatively easy in process costing industry Direct Expenses Expenses in addition to Direct Material and Labor which can be directly attributable to a particular process. These are costs relevant to specific processes. Production Overheads The overhead expenses are generally expended over all the processes involved in production. These are to be apportioned over the various processes in an amicable manner. Methodology of Recording/Accounting Costs Financial Accounting Methodology is adopted for recording costs involved. Process Accounts A nominal account for each process is used to record all the costs relevant to a process. Each process account is Debited with The Primary Direct Material Cost Secondary Direct Material Cost Direct Labor Cost Direct Expenses and Production Overheads allocated and/or apportioned to the process. Credited with The value of output transferred to the subsequent process or finished stocks. Numbers, Alphabets or any word or phrase representing the process are used as suffixes/prefixes in the names (Process I a/c, Process A a/c, Refining Process A a/c, etc.,.) to distinctly identify the processes accounts. Process Stock Accounts Stocks relevant to a process are maintained in a separate stock account. Stock accounts for input may be maintained where all the input acquired/received for a process during a period is not used up. Stock accounts for output may be maintained where all the output produced/completed in a process during a period is not disposed off either by transfer to the next process or by sale. Where the output relevant to a process is sold apart from being transferred to the next process, it generates revenue. These revenues relevant to a process, are generally recorded using the process account or the stock account. FEATURES of Process Costing The product of one process becomes the INPUT OR RAW MATERIAL of the next process; There is a CONTINUOUS FLOW OF IDENTICAL OUTPUT; It is DIFFICULT TO IDENTIFY A COST UNIT because each cost unit is part of a process; It is difficult to cost a cost unit hence we can only find the AVERAGE COST PER UNIT over period of time; COST CENTRES are set up and costs are collected by the cost centers; It is possible that JOINT PRODUCTS may be produced in the processes; WASTE may arise during processing eg due to evaporation, etc Each process or department performs a particular operation(s). A certain stage of production is completed in each process. Each process is carried out by a certain department. A person is usually responsible for a process. An account called a PROCESS ACCOUNT is maintained for each process. This process account captures/records the following: All costs-materials, labor and overheads; Scrap Output Opening work-in-process Closing work-in-process Transfers from previous process Losses or gains Reasons for use Companies need to allocate total product costs to units of product for the following reasons: A conducts are manufactured in large quantities, but products may be sold in small quantities, sometimes one at a time (automobiles, loaves of bread), a dozen or two at a time (eggs, cookies), etc. Product costs must be transferred from Finished Goods to Cost of Goods Sold as sales are made. This requires a correct and accurate accounting of product costs per unit, to have a proper matching of product costs against related sales revenue. Managers need to maintain cost control over the manufacturing process. Process costing provides managers with feedback that can be used to compare similar product costs from one month to the next, keeping costs in line with projected manufacturing budgets. A fraction-of-a-cent cost change can represent a large dollar change in overall profitability, when selling millions of units of product a month. Managers must carefully watch per unit costs on a daily basis through the production process, while at the same time dealing with materials and output in huge quantities. Materials part way through a process (e.g. chemicals) might need to be given a value, process costing allows for this. By determining what cost the part processed material has incurred such as labor or overhead an equivalent unit relative to the value of a finished process can be calculated. Comparisons Similarities between job order and process costing include: Both systems have the same basic purpose-to calculate unit cost Both systems use the same manufacturing accounts The flow of costs through the manufacturing accounts is basically the Same. However, there are some important differences between job order and processing costing as described below. Job Order Costing Process Costing Each job is different All products are identical Costs are accumulated by job Costs are accumulated by department Costs are captured on a job cost sheet Costs are accumulated on a department production report Unit costs are computed by job Unit costs are computed by department Study the production flow and the cost flows of companies which use process costing in Exhibits 4-2, 4-3, and 4-4. Note that as units are partially completed in one department they proceed onto another department for further processing. This will require a journal entry such as: Work in Process Department B Work in Process Department A When the products are completed they are transferred from the final processing department to Finished Goods. Study the model journal entries on Pages 149-150. A complication arising in process costing is that not all units may be completed at the balance sheet date. To calculate unit costs, it will be necessary to compute equivalent units of production. Equivalent units can be defined as the product of the number of partially completed units times the percentage completion of these units. If there are 300 of partially completed units at year-end which are 40% complete, then there are 120 equivalent units. If say 5000 units were completed during the period, the managerial accountant would add 5000 and 120 to arrive at 5120 equivalent units completed during the period. Then total department costs for the period (direct material, direct labor, and overhead) would be divided by the 5120 equivalent units to arrive at cost per unit. Equivalent units can be computed in two different ways, the weighted average method and the FIFO method. We only cover the weighted average method in this course and therefore skip Appendix 4A. Companies using process costing prepare departmental production reports. Exhibit 4-9, Page 158, is a production report for Double Diamond Skis Shaping and Milling Department. Note that the production report consists of three parts as follows: A quantity schedule which shows the flow of units through the department and a  computation of equivalent units A computation of costs per equivalent unit A reconciliation of all cost flows into and out of the department Also note in Exhibit 4-9 that the equivalent unit totals are different for material costs and for conversion costs. This frequently happens as all material is input at the start of the production process but the direct labor and overhead costs are incurred sometime later. 7. Mention of sources used 1. Process Costing Systems What is it and when is it used? A process-costing system is a costing system in which the cost of a product or service is obtained by assigning costs to masses of like or similar units. Unit costs are then computed on an average basis. Process-costing systems are used in industries that produce like or similar units which are often mass produced. In these industries, products are manufactured in a very similar way. The companies usually use the same amount of direct materials, direct manufacturing labor costs and manufacturing overhead costs. Industries that use process costing systems are for example: chemical processing, oil refining, pharmaceuticals, plastics, brick and tile manufacturing, semiconductor chips, beverages and breakfast cereals. The difference between job costing and process costing is the extent of averaging used to compute unit costs of product and services. The cost object in job costing is a job that constitutes a distinctly identifiable product or service. The quantity of manufacturing resources is different in any job. It would be incorrect to cost each job at the same average manufacturing cost. So, when like or similar units are mass produced, process costing averages manufacturing costs over all units produced. The costs of a product are important for inventory calculations, pricing decisions and product profitability analysis. Its also important for measuring how well the management is done and if costs are reduced effectively. Illustrating process costing The best way to show how process costing works, is by example: Global Defense, Inc, manufactures thousands of components for missiles and military equipment. One of these is called DG-19. The product-costing system for DG-19 has a single direct-cost strategy (direct materials) and a single indirect-cost category (conversion costs). Each unit passes through two departments: the Assembly Department and the Testing Department. Every effort is made to make sure that all DG-19 products are identical. Direct materials are added at the beginning of the process in Assembly. Additional direct materials are added at the end of processing in the Testing Department. Conversion costs are added evenly during both processes. They include manufacturing labor, indirect materials, energy, plant depreciation and so on. After leaving the Testing Department, the DG-19 component is transferred to Finished Goods. 2. Three cases 2.1 Case 1: Process Costing with no beginning or ending work in process inventory During January, the first month of the period, Global Defense starts with the manufacturing process. All units will start and end in this period. Altogether, Global Defense will manufacture 400 units of DG-19 during this period. Direct materials in this period: $ 32.000 Conversion costs in this period: $ 24.000 _______ Total Assembly costs in January: $ 56.000 Global Defense records direct materials and conversion costs in the Assembly Department as these costs are incurred. By averaging, the assembly cost per unit would be $ 56.000 / 400 units = $ 140: Direct materials costs by unit ($32.000 / 400) $ 80 Conversion costs per unit ($ 24.000 / 400) $ 60 _____ Assembly Department cost per unit $ 140 Each unit is identical in this case, so we assume that all units receive the same amount of direct materials and conversion costs. The unit costs can be averaged by dividing total costs in a given accounting period by total units manufactured. This approach is for example used by banks to compute the unit costs of 100.000 similar customer deposits made in a month. It is usually used by organizations with mass production of standard units and no incomplete units after the period. 2.2 Case 2: Process costing with no beginning but an ending work in Process Inventory There is no beginning inventory in February, because all 400 units produced in January had been fully completed. Due to customer delays in placing orders, it was only possible to produce 175 units in February. The 225 partially assembled units as of February 28 were fully processed with respect to direct materials, because all direct materials in the Assembly Department are added at the beginning of the assembly process. Conversion costs are added evenly during the assembly process. Based on the work completed relative to the total work required to be done, an Assembly Department supervisor estimates that the partially assembled units were, on average, 60 % complete as to conversion costs. Total costs for February: Direct materials costs in February $ 32.000 Conversion costs February $ 18.600 _______ Total Assembly Departments costs $ 50.600 Problem: How should Global Defense calculate the cost of fully assembled units and the cost of the partially assembled units still in process? The following four steps help us to find the answer: Step 1: Summarize the flow of physical unit of output Step 2: Compute output in terms of equivalent units Step 3: Compute equivalent unit costs Step 4: Summarize total costs to account for and assign these cost to units completed and to units in ending work in process Step 1 tracks the physical unit of output. It shows, where they come from and how many units are there to account for, and where they go and how they are accounted for. Step 2 measures the output in equivalent units, not in physical units, because not all units had been completed. The 400 units are complete in terms of equivalent units of direct materials, because all direct materials are added in the Assembly Department at the initial stage of the process. So you count all 400 units in equivalent direct costs. The 175 fully assembled units are completely processed with respect to conversion costs. The partially assembled units in ending process are 60 % complete (on average). Therefore, the conversion costs in 225 partially assembled units is equivalent to conversion costs in 135 (60% of 225) fully assembled units. So, 310 equivalent units of conversion costs are assembled and transferred out and 135 equivalent units are in ending work in process inventory. In step 3, equivalent unit costs are computed by dividing direct materials and conversion costs added during February by the related quantity of equivalent units of work done in February: Direct costs Conversion costs Costs added during February: $ 32.000 $ 18.600 Divide by equivalent units work done in February: / 400 / 300 ________ _________ Cost per equivalent unit of work done in February: $ 80 $ 60 In Step 4, total costs to account for are summarized and assigned to units completed and transferred out and to units still in process at the end of February. Since the beginning balance of the work in process is zero, total costs to account for consist of the costs added during February: direct materials $ 32.000 and conversion costs $ 18.600. Direct material costs are 225 times $80 (=$18.000) + Conversion costs: 135 times $60 (=$8.100). Total costs are therefore: $18.000 + $8.100 = $26.100. 2.3 Case 3: Process costing with both beginning and ending work in process inventory In march, Global Defense has 225 partially assembled units in the Assembly Department. During march, Global Defense placed another 275 units into production. Step 1 traces the physical units of production. In march, 400 units are completed and transferred out, 100units are in ending inventory. Step 2 computes the output in terms of equivalent units: 275 equivalent units of direct materials and 315 equivalent units of conversion costs. Step 3 computes equivalent unit costs. Direct materials: $ 80; conversion materials: $ 60 Step 4 summarizes total costs to account for and assigns these costs to units completed and to units in ending work in progress. The costs that get assigned to each of these categories depend, as in all inventory accounting, on the specific assumptions regarding the flow of costs. Next are described to alternative methods, the weighted-average method and the first-in, first-out method. 3. Weighted-average method The weighted-average process-costing method assigns the average equivalent unit cost of all work done to date (regardless of when it was done) to equivalent units completed and transferred out, and to equivalent units in ending inventory. The weighted-average cost is simply the average of various equivalent unit costs entering the work in process account. 4. First-In, First-out Method The First-in, first-out (FIFO) process-costing method assigns the cost of the earliest equivalent units available (starting with the equivalent units in beginning work-in-process inventory. This method assumes that the earliest equivalent units in work in process Assembly account are completed first. 5. Transferred-in costs in process costing Transferred-in costs (or previous department costs) are costs incurred in a previous department that are carried forward as part of the products cost as it moves to a subsequent department. That means, costs move with the units when they are transferred to a new department. So, computations of Testing costs must include transferred-in costs, additional direct materials costs and conversion costs added in Testing. The four -step procedure is used to account for the costs of a subsequent department that has transferred-in costs. Units are fully completed as to transferred-in costs because these costs are just carried forward from the previous process. Direct materials costs have a zero degree of completion in both beginning and ending work-in-process inventories, because in Testing, direct materials are introduced at the end of the process. That completes steps 1 and 2. 5.1 Transferred-in Costs and the weigthed-average method In step 3, the equivalent unit costs are computed. In step 4, the total costs to account for are summarized, that is the total debits to Work in Process under the weighted-average method. After that, these costs are assigned to units completed and to units in ending work-in-process inventory. Beginning work in process and work done in the current period are totaled and merged together for purposes of computing weighted-average costs. A company may split the Work in Process account into Work in Process Testing, Transferred-in Costs, Work in Process Testing, Direct Materials and Work in Process Testing, Conversion costs. The journal entries would contain this detail, though the underlying reasoning and techniques would be unaffected. 5.2 Transferred-in Costs and the FIFO-Method The costs transferred-in from the Assembly Department are different when the weighted-average rather than the FIFO method is used in step 3. In step 4, the total costs to account for are summarized, consisting of the beginning inventory plus costs added during the current period, under the FIFO-method. These costs differ from the total debits to Work on Process under the weighted-average method, because of the different costs of completed units transferred-in from the Assembly Department under the weighted-average and FIFO methods. When assigning costs, the FIFO method keeps the beginning inventory separate and distinct from the work done during the current period. Each department in interdepartmental transfers is regarded as being separate and distinct for accounting purposes. All costs transferred in during a given accounting period are carried at one unit cost figure, regardless of whether previous departments used the weighted-average or the FIFO method. 6. Common Mistakes with Transferred-in Costs Here are some common pitfalls to avoid when accounting for transferred-in costs: Remember to include transferred-in costs from previous departments in your calculations. Such costs should be treated as if they were another kind of direct material added at the beginning of the process. In other words, when successive departments are involved, transferred units from one department become all or a part of the direct materials of the next department; however, they are called transferred-in costs, not direct materials costs. In calculating costs to be transferred on a FIFO basis, do not overlook the costs assigned at the beginning of the period to units that were in process but are now included in the units transferred. Unit costs may fluctuate between periods. Therefore, transferred units may contain batches accumulated at different unit costs. Units may be measured in different terms in different departments. Consider each department separately. Unit costs could be based on kilograms in the first department and liters in the second , so as units are received by the second department, their measure