BUSINESS LAW Essay Example | Topics and Well Written Essays - 500 words

BUSINESS LAW - Essay Example Investigating this film from moral viewpoint, plainly the vast majority of the emergencies were a result of unacknowledged irreconcilable circumstance, presumption, voracity, absence of straightforwardness and responsibility, bombed initiative and deceptive behaviors. These components are a portion of the issues that filled the business to get wild. As indicated by the Inside Job, Ferguson unmistakably demonstrates the way where these practices caused the 2008 financial emergency. While clearly everybody knows the finish of the unfurling events Ferguson delineates, his gatherings with some of the players in the crisis give additional information into the greater request on the way wherein such an assortment of splendid people were remembered for a mistake, so giant disappointment that prompted financial emergency. The film shows the outcomes when guessed capital is folded over the unfaltering mission for an authoritative opinion, for this circumstance deregulation, with the objective that conflicting data or limiting viewpoints are not allowed to hinder. The numerous individuals from Ivy League business concerns divisions employed a huge amount of power in the 30-year force for deregulation. They filled in as guides to the business and were picked for critical managerial or White House specialist positions. Ferguson raises issues about the objectivity of the individuals who were entitled with research, and likewise whether their reliability was dealt by the issues of venture and enduring costs from Wall Street. For instance, Scott Talbott, supervisor lobbyist for the Financial Services Roundtable, which crusades for the principle 100 banks, and Mastercard, stronghold and money related organizations, incorporates a colossal number of the safeguarded banks. As noted in Ferguson’s requests, it unmistakably exhibits there was happy with the great effect his gathering employed in Congress since that is the way of how

Essay on the Gay as a Literary Figure in The Picture of Dorian Gray

The Gay as a Literary Figure in The Picture of Dorian Grayâ â â â â â â Â â This paper will investigate the gay as an abstract figure dependent on Oscar Wilde's The Picture of Dorian Gray. The point of the paper is triple. Right off the bat, to show how the gay is identified with two of the most intense original pictures: those of Dionysos and Apollo. Furthermore, to show that the Wildean gay is significantly scared of life, and that his enthusiasm for structure and stylish extent lays on a guideline of avoidance. Thirdly, to fight that the silliness in this novel, and by expansion likewise in Wilde's plays, is a side effect of the creator's interest with an original gay. The Picture of Dorian Gray spins around Dorian's double nature. From one perspective, he is the youthful saint whose undertakings the novel records; on the other, he is a painted picture of unprecedented individual excellence. When Lord Henry reveals to him that his remarkable looks won't last, the youngster implores that he be permitted to stay as he is in Basil's representation of him. Dorian needs to make the most of his childhood for ever. His frantic wish is a key to the model elements which... ... inebriation and Apollonian structure; of Dionysian inclusion and Apollonian disconnection. He can appreciate the Dionysian delights to which he needs to surrender himself, however at an Apollonian separation. Works Cited Wilde, Oscar. The Picture of Dorian Gray. Ed. Isobel Murray. London: Oxford University Press, 1974. Wilde, Oscar. The Letters of Oscar Wilde. Ed. R. Hart-Davis. London: Hart-Davis, 1962. Jung, C.G. The Collected Works. Ed. Sir Herbert Read and so forth. London: Routledge and Kegan Paul, 1953-1976. Vol. 9.ii; standard. 73. Likewise CW 11.283. Â

Stress in College

Stress in College 5 Ways to Cope with Stress in College Home›Education Posts›5 Ways to Cope with Stress in College Education PostsCollege is a new stage of every person’s life. Some students think that college times are interesting and funny and that they are all about parties. Others are afraid of the challenging studying process. Nevertheless, students experience many stressful situations when studying. The feeling of stress is always pestering many students. Stress is everywhere. It can find us at home, in school or college. When in college, students are often under stress since they want to cope with all their tasks and achieve their goals in one day. Education process demands a lot of efforts from students, therefore, they feel deep despair. Stress causes physical and emotional problems. Stress can affect our productivity and relations with other people.Below are 5 useful tips for how to cope with stress in college:Be calm. Very often, we are nervous without any reason. We worry about what will happen, how we will pass exams, or whether we will have time to cope with all academic assignments. First of all, students should calm down and control themselves. Focusing on the problem will only worsen it.Healthy food. Our mood depends on what we eat. Students should eat more fruits and vegetables since they contain many vitamins which help cope with stressful situations when studying.Physical exercise. Some physical activity can reduce stress. You may walk for 20-30 minutes a day while listening to your favorite music band and that will be enough. Even small physical activity assists our body in producing endorphins.Good sleep. Sleep has always been the best way to manage stress. While sleeping, our body and mind stop worrying about the problem. This, in turn, improves our productivity.Relaxation. Students should rest from education process. It is essential to have some time out. It is advisable to spend some time with friends, family or beloved, go to parties, and have so me fun. It is important to rest but very often students are overloaded and worry about their academic assignments. In this situation, qualitycustomessays.com can really help you.Find time for yourself and take life easier. College times are really fun and unforgettable if you can cope with stress!

Stress in College

Stress in College 5 Ways to Cope with Stress in College Home›Education Posts›5 Ways to Cope with Stress in College Education PostsCollege is a new stage of every person’s life. Some students think that college times are interesting and funny and that they are all about parties. Others are afraid of the challenging studying process. Nevertheless, students experience many stressful situations when studying. The feeling of stress is always pestering many students. Stress is everywhere. It can find us at home, in school or college. When in college, students are often under stress since they want to cope with all their tasks and achieve their goals in one day. Education process demands a lot of efforts from students, therefore, they feel deep despair. Stress causes physical and emotional problems. Stress can affect our productivity and relations with other people.Below are 5 useful tips for how to cope with stress in college:Be calm. Very often, we are nervous without any reason. We worry about what will happen, how we will pass exams, or whether we will have time to cope with all academic assignments. First of all, students should calm down and control themselves. Focusing on the problem will only worsen it.Healthy food. Our mood depends on what we eat. Students should eat more fruits and vegetables since they contain many vitamins which help cope with stressful situations when studying.Physical exercise. Some physical activity can reduce stress. You may walk for 20-30 minutes a day while listening to your favorite music band and that will be enough. Even small physical activity assists our body in producing endorphins.Good sleep. Sleep has always been the best way to manage stress. While sleeping, our body and mind stop worrying about the problem. This, in turn, improves our productivity.Relaxation. Students should rest from education process. It is essential to have some time out. It is advisable to spend some time with friends, family or beloved, go to parties, and have so me fun. It is important to rest but very often students are overloaded and worry about their academic assignments. In this situation, qualitycustomessays.com can really help you.Find time for yourself and take life easier. College times are really fun and unforgettable if you can cope with stress!

The Terror of The Holocaust Essay - 1956 Words

The terror of the Holocaust is dated from the time, January 30, 1933, when Adolf Hitler became chancellor of Germany. The Nazi Party had took advantage of the political unrest that was after World War I when Germany was defeated, and the Versailles Treaty established the reducing of prewar territory and armed forces, requested Germany to recognize guilt, and specified that Germany provide money for the allied armies to repair (â€Å"Jewish Virtual Library†). Therefore, wage war commence with communism and vicious propaganda in which the Nazi party blamed the Jews for the debilitation of the Germany government (â€Å"Jewish Virtual Library†). For the first three years, Hitler had assigned positions to popular anti-Jewish men, including Heinrich†¦show more content†¦First main reason that the Jews were singled out for extermination was anti-Semitism, particularly, by Nazis and Germans who were influenced that the Jewish public was sinful. For starters, in 1933, the Nazi regime concluded that â€Å"traditional religious and economical forms† would be based on anti-Semitism, hostility and prejudice against Jews (Wegner 4). Therefore, many Germans started to view the Jews as malicious and greedy. This had increased immensely in which the Jews were dehumanized and perceived as parasites, and normally when people think of parasites, they feel the need to exterminate them before they increased. Germans had the right to eradicate Jews, for they were â€Å"life unworthy of life† (Wegner 4) based on the scientific perspective of Germans. This indicated that the Jewish (also Gypsies) were viewed as racially undesirable. In religion perspectives, the Lutheran and Catholic Churches practiced on Anti-Semitism, and the Jews were outcast for not converting to Christianity and for murdering Jesus (theory) (Wegner 5). All forth, the Germans weren’t the only country that regarded the anti-Semitism (Wegner 5), but were the only ones to a ct upon it immeasurably such as to abhor the Jewish population with much intensity. Second main reason that the Jews were singled out for extermination was increase of German Nativism. Since theShow MoreRelatedThe Terrors of the Holocaust511 Words   |  2 PagesImagine eating dinner with your family, and a group of German soldiers in striped uniform took you, and you were then separated from your family not knowing their whereabouts. The Holocaust was a very long, and gradual period, which began around January 1933 when Adolf Hitler was appointed as Chancellor of Germany. Life was very tough and painful for them until they were liberated by the Russians in 1945. The steps the Germans took to gain power was very gradual , initially, they had to isolate themRead MoreAuschwitz As A Symbol Of Terror, Genocide, And The Holocaust1430 Words   |  6 Pagesparts of Auschwitz. I found out what Auschwitz was, what it was used for, and many of the different parts of the camp. Auschwitz was a popular town in south-west Poland, which was also a holocaust camp during World War two. â€Å"All over the world, Auschwitz has become a symbol of terror, genocide, and the Holocaust† (AUSCHWITZ-BIRKENAU). The main reason for the creation of Auschwitz was that they needed more space for the people they were capturing. â€Å"German concentration camp and later death campRead MoreThe Holocaust : A More Perfect Union1060 Words   |  5 PagesWe the people, in order to form a more perfect union Devan Shanker Mr. Perry Modern European History per 3 Although many recognize the Holocaust as one of the most catastrophic genocides in history, few acknowledge its underlying causes. Historians often attribute the combination of German aggression and foreign appeasement with the Nazi rise to power and success in completing the Final Solution. However, the power of the totalitarian regime originated from its domestic policy, allowing one manRead MoreEssay on Causes Effects of the Holocaust1422 Words   |  6 PagesCauses Effects of the Holocaust There are times in history when desperate people plagued by desperate situations blindly give evil men power. These men, once given power, have only their own evil agendas to carry out. The Holocaust was the result of one such mans agenda. In short simplicity, shear terror, brutality, inhumanity, injustice, irresponsibility, immorality, stupidity, hatred, and pure evil are but a few words to describe the Holocaust. A holocaust is defined as a disaster thatRead MoreEssay On The Perils Of Indifference724 Words   |  3 PagesWriter, Elie Wiesel in his metaphorical speech â€Å"The perils of Indifference† argues that the future will never know the agony of the Holocaust and they will never understand the tragedy of the horrific terror in Germany. Wiesel wants people to not let this happen but at the time many modern genocides that are occurring and people shouldn’t be focused on just the Holocaust, they should focus on making this world a better place; moreover, Wiesel expresses his thoughts about all the genocides that has happenRead MoreThe Comic Book Maus1662 Words   |  7 PagesIn the comic book Maus, Art Spiegelman shows the readers what people endured during the Holocaust terror. Art mostly spoke about persons of Jewish descent. He utilized great imagery, and characteristics to allow readers to get a mental image and painting of the immense pain and suffering Jews endured du ring the Holocaust. His use of symbolism of mice and cats helped to show how Jews were just pawns, and experimental factors to Germans. Art allows for the reader to see how terrifying and horrificRead MoreThe Holocaust And Its Effects On Survivors1442 Words   |  6 PagesThe Holocaust was a really tragic event that took place in the period from January 30, 1933 to May 8, 1945, during the Holocaust about 11 million Jews were killed (Wikipedia) by a german group that saw the Jewish people as an inferior race, the Nazis, under the leadership of Adolf Hitler, mercilessly killed all of those unfortunate to be caught. To this day, there are still survivors that witnessed this horrifying event, there are also journals and articles that explain in great detail how the HolocaustRead MoreHolocaust : The Holocaust And Holocaust1328 Words   |  6 PagesThe Holocaust The holocaust is a term originally referred to a religious rite in which an offering is incinerated. But today, has another meaning; is any human disaster of great magnitude and importance, mainly refers to the extermination of the Jews who lived in Europe conducted by the Germany government. Throughout the nineteenth century, the Jewish community was improving their situation and their rights equalized to those of other citizens in most European countries. But despite this, these peopleRead MoreThe Diary Of Anne Frank Play And Play Analysis704 Words   |  3 Pagesversion of The Diary of Anne Frank is about a jewish girl who has to survive in one of the world’s darkest times, the Holocaust. In this play, Anne must hide in an Attic and survive the everyday life in there with seven other disruptive people. The play is very popular and historic but, there is a movie version that is based on the Diary of Anne Frank which is more modern and more terror. In this movie, it still ta lks Anne and seven others living in the Attic it also shows how her life was before movingRead MoreWhy Do We Study the Holocaust? Essay685 Words   |  3 PagesThere are a plethora of reasons to study the Holocaust. Not only does it benefit the students by opening their eyes to the atrocities committed by the Nazi Party in the 1930s and 1940s, but it also benefits the many people who dont know about the Holocaust and havent learned enough to understand the terror faced by the undesirables and how far we, as the human race, must go to ensure that this does not happen again. First, however, we must learn how it all took place. As a young child, Adolf

The Tragic Tragedy Of Antigone By Sophocles - 1440 Words

Antigone The tragic play ‘Antigone’ by Sophocles is a tale that will forever project different interpretations and meanings, one no more accurate than the other. The play’s protagonist, Antigone, is typically always seen in an innocent aspect, and Creon is always seen as a villain due to the ongoing quarrel between the two. But, who is to say that either one is heroic or villainous? Sure, there are many admirable qualities that Antigone possesses, but she also shows that she is unwilling to change her ways or her mindset even if she is wrong. Creon, who undoubtedly has harsh ways of ruling, does show that he has some compassion in his heart and is not a complete scumbag. This leads us to really debate the conflict, and dissect the facts from what we tend to think is truth. The nature of the conflict is that both Creon and Antigone are both so set in their ways that they fail to see the error within them. It is not a story of a terrible king or a brave woman, but rather, tw o individuals so caught up in defending what they believe in that they fail to realize how gravely their choices affect the family and Thebes as well. Creon is often regarded by audiences as the terrible villain, and Antigone is seen as the beacon of light; however, critics have different perspectives on this topic. Holt defends Creon, and justifies that he has the right to declare the edict of death to whoever goes against his decree of burying Polynices. In defending Creon, Holt says â€Å"†¦in fifth centuryShow MoreRelatedThe Tragic Heroes in Sophocles’ Tragedy, Antigone Essay790 Words   |  4 Pagesof a tragic hero is someone of great importance or royalty. The hero must go through something terrible such as a relative’s death. We must feel what this character is feeling throughout the story. Aristotle also said that a tragic hero scan be defeated by a tragic flaw, such as hubris or human pride. In Sophocles’ tragedy Antigone, both Creon and Antigone are tragic heroes. In the play, Creon and Antigone can be seen as good or bad characters. Both of them show traits of justice. Antigone wantedRead More The Tragic Hero: Creon or Antigone? Essay1293 Words   |  6 PagesGreek tragedy Antigone, the characters Antigone and Creon can both be thought of as the tragic hero of the play. Though Antigone does show some of these characteristics of a tragic hero, Creon demonstrates the attributes more clearly and concisely. Creon is the King of Thebes, as well as the uncle of Antigone. Creon took the throne after a tragic quarrel between his two nephews, Eteocles and Polyneices. Despite his harsh governing and his crude ideals, he is not good or bad. Creon is the tragic heroRead MoreCreon as Tragic Hero1586 Words   |  7 PagesTragedy at its Finest In the Greek play Antigone, Creon and Antigone can both be claimed the title of Tragic Hero. Creon was made king when Oedipus Rex fled the kingship. Creon is the brother in law of Oedipus, and was giving the kingship only because Oedipus’s sons, Eteocles and Polyneices were killed trying to fight for the thrown. Antigone is Oedipus’s daughter and Creon’s niece. When it comes down to who the tragic hero is, Creon most definitely walks away with the title. A tragic heroRead MoreAntigone Character Analysis1422 Words   |  6 Pages Antigone, the final play in a series including Oedipus Rex by Sophocles, discusses the ideas of leadership, family, and choices. It features two central characters: Antigone, a girl who chooses to illegally bury her brother, and Creon, a king who decrees the burial of the brother to be illegal. Upon the first encounter of the text, it appears that Antigone is the â€Å"hero† of the play, but on further analysis, one realizes that the tragic hero, as defined by Aristotle, is actually Creon. The ideaRead MoreEssay on Creon as the Tragic Hero in Sophocles Antigone1326 Words   |  6 PagesCreon as the Tragic Hero in Antigone     Ã‚   This essay will compare two of the characters in â€Å"Antigone†, Antigone and Creon, in an effort to determine the identity of the tragic hero in this tale.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To identify the tragic hero in Sophocles’ renowned play â€Å"Antigone†, we should first consider both the elements present in Greek tragedies and what characteristics define a tragic hero. Aristotle’s definition of tragedy is: â€Å"Tragedy is a story taking the hero from happiness to miseryRead MoreAntigone: Sophocles and Creon839 Words   |  4 PagesCreon and Antigone are both honorable people and yet, both are fatally proud and that is the source of the tragedy. To what extent do you agree? During the time of Ancient Greece, tragic plays were commonly used to deliver a moral message to their audience. Sophocles’ â€Å"Antigone† demonstrates the dangers of hubris and the disaster it can cause using the conflict between the two central characters, Antigone and Creon, as the basis of the tragedy. Although they are honourable in their own differentRead MoreAntigone by Sophocles1059 Words   |  5 Pages In the book Antigone, Creon and Antigone can be considered as the tragic heroes of the play. Antigone is considered the tragic hero because of the characteristics she shows such as her ambition to defeat Creon, Creon shows more of the characteristics clearly. Creon is the king of Thebes. He is also Antigones uncle. Creon became king after a fight between Eteocles and Polyneices. One may see Creon as a harsh and controlling ruler, but he is not good nor bad because he shows signs of both like whenRead MoreTragic Heroism of Creon Essay1032 Words   |  5 PagesAristotle once said that a Greek Tragedy must include an important person that has a flaw. By this flaw, the audience should feel pity and fear. Creon, a character in the Greek tragedy â€Å"Antigone†, resembles a perfect example of a tragic hero. This play was written by Sophocles, a historic playwright during the 5th century. It begins with the illegal burial of Polyneices, Antigone’s beloved brother. Creon, th e King of Thebes, is coerced to condemn his niece Antigone to death. Being loyal to his cityRead MoreSophocles As A Master Of Character Development1497 Words   |  6 PagesSophocles is one of the three great Athens tragic playwrights in Greek history. He has written over 120 plays in which they were performed into three tragedies known as the â€Å"Oedipus the King†. Although he has written 123 plays there are only seven of his tragedies remaining and with only a few titles and fragments remaining. The seven tragedies include Ajax, Antigone, Trachinian Women, Oedipus the King, Electra, Philoctetes, Oedipus at Colonus, and Trackers. Sophocles was considered to be a masterRead MoreEssay on Creon As The Tragic Hero In Antigone602 Words   |  3 Pages Sophocles’ Antigone is, without a doubt, one of the greatest tragedies ever written. There are many questions that somebody could ask about this work, but this one intrigues me the most: Who is the tragic hero? Could it be Antigone? Or could it be Creon? Antigone might be the name of the tragedy, but I believe that Creon is the winning candidate. His role in the plot of this tragedy, his sensible tragic fault, and his dynamic character are the obvious reasons why I chose him as the tragic hero

Parents and Physical Punishment - 1052 Words

As children grow up, they’re more than likely exposed to being disciplined in one way or another. â€Å"Surveys of parents show that 90 percent have used some form of physical punishment on their children† (Graziano 1). So therefore, we can all agree that when it comes down to being punished, parents more often than not resort to spanking their child(ren). That being said, many parents will readily agree that spanking a child should not be considered a form of child abuse. However, the question still stands: how far does the spanking have to go in order for it to be considered child abuse? Although some are convinced that there are better ways to discipline a child, there are others that maintain the idea that spanking is the best option†¦show more content†¦Parents are the ones that are to love and care for children throughout their lives. Graziano states that all parents use physical punishment as a way to discipline at some point in their lives (2). H owever, what is not always certain is whether or not the spanking is legitimately deserved. Children need their parents, not just for love and care, but for reliance for anything. Why would any child want to rely on and be okay with going to their parents if they are constantly getting hit or spanked? Those parents aren’t showing love to their children if that is the case. Some say that â€Å"parents are not stupid, they know the difference between beating and spanking† (Saunders 1). But, what some people might not know is that â€Å"the main problem with discipline, or corporal punishment, is that it can lead to child abuse, critics say† (Henderson 141). Parents might get use to always turning to physical discipline on their children after a certain length of time and children might start getting use to it too. In this case, adults are going to think what they can use to make the children understand and feel the pain when they misbehave and this can lead to the use of objects such as belts, wooden spoons, paddles, etc. Corporal punishment tends to escalate as it is used. In other words, it becomes more and more harsh as it eventually gets out of control overall. Alvy sums it up in saying that corporal punishment is often the beginning of what is considered asShow MoreRelatedThe Case Against Spanking By Brendan L. Smith910 Words   |  4 PagesSpanking by Brendan L. Smith, researchers has described that physical abuse and spanking can lead to some serious effects in children. Physical punishment can lead to aggression, antisocial behavior, and other negative effects physically and emotionally. The research and studies have found evidence of abuse to children in short-terms and long-terms. The physical discipline has been viewed as a violation of Children’s Human Rights. Physical punishment of children became a taboo in 30 countries this legalRead MoreAvoiding Physical Punishment In Child Rearing Essay1326 Words   |  6 PagesAvoiding Physical Punishment In Child Rearing Is sparing the rod spoiling or saving the child? Is violence, resentment, anger or fear worth the risk taken when striking him or her. Whether your for or against using physical punishment in child development, as a parent, you will someday have to face this issue. Many parents are taught this method in their childhood, and are not aware of any other way. Often originating from religion, physical or corporal punishment is seen as an importantRead MoreChild Discipline Expository Writing1576 Words   |  7 PagesA Fine Line between Child Abuse and Discipline Child abuse is the physical injury of a child inflicted by a parent which ranges from superficial bruises, broken bones, burns, serious internal injuries and in some cases, death (Prevent Child Abuse America). Child abuse is a topic that causes rage in many discussions throughout the country because it is outrageous actions against innocent children. Many parents question whether discipline can become child abuse. Bell Hooks is an educated woman, feministRead MoreCorporal Punishment And Its Effect On Children1708 Words   |  7 Pagescorporal punishment; some of the reviews take a look at who is most affected by corporal punishment in terms of focusing their lens on race, socio-economic status, gender, culture etc. Some also take a critical look at the advantages and disadvantages of corporal punishment. Some take a look at the widespread of corporal punishment in the US. Cases against corporal punishment and the effect of corporal punishment on children were also looked into. With all the different ways corporal punishment has beenRead MoreThe Effects Of Corporal Punishment On Children932 Words   |  4 PagesChildren and Corporal Punishment Punishing children has been one of the most controversial parenting topics this generation has seen. Physical punishment or corporal punishment is simple defined as the use of physical force with the purpose of initiating pain, but not wound, to teach the proper behavior of a child. Corporal punishment has been used for many centuries in schools and in homes but the use of such techniques have since decreased and are not being used in many places today. EvidenceRead MoreCorporal Punishment And Its Usage986 Words   |  4 PagesIntroduction The topic of whether or not parents and teachers should use corporal punishment in the name of discipline had caught my eye for several reasons. One of the most important reasons is that I was beaten by a wooden paddle while I was growing up. I was about 12 years of age when my teacher beats all of my classmates including me just because one of us was misbehaving. That was in Baghdad, Iraq, where teachers and parents are allowed to use corporal punishment freely without any fear. Another reasonRead MoreThe Effects Of Corporal Punishment On The Parent Child Relationship1634 Words   |  7 PagesTHE INFLUENCE OF CORPORAL PUNISHMENT ON THE PARENT-CHILD RELATIONSHIP. There are many different ways of disciplining a child. Corporal punishment is one of the main ones. The term corporal punishment means the intentional infliction of pain on the body for purposes of punishment and includes slapping, hitting with objects, pinching, shaking and forcing to stand for long periods of time. Family researchers define corporal punishment as the use of physical force aimed at causing childrenRead MoreEvaluation of the Statement that Hitting Children is Wrong Essays1479 Words   |  6 Pages(or otherwise) to bring in legislation to ban the physical punishment of children. The current law in place in the UK, with respect to smacking children, is known as the law of reasonable chastisement. This law permits, the use by parents of reasonable chastisement when disciplining their children. That is, a parent is permitted to hit a child as a way of enforcing discipline providing the physical punishment is within moderate to reasonable limits. ThereRead MorePersuasive Speech: Corporal Punishment1625 Words   |  7 Pagesï » ¿Topic: Should Corporal Punishment be used by parents on young children? General Purpose: To persuade Specific Purpose: I want to persuade my audience that corporal punishment should not be a way of punishment and to use other effective punishments. Thesis Statement: Corporal punishment tends to perpetuate a cycle of child abuse. Introduction I.Attention Grabber: â€Å"Corporal punishment is the use of physical force with the intention of causing a child to experience painRead More Disciplinary Spanking Is Not Child Abuse Essay1649 Words   |  7 Pagesharm including physical, emotional, sexual, and neglect. Physical abuse is any non-accidental physical injury to a child. Physical abuse is an injury that results from physical aggression. Types of physical abuse can consist of beating, whipping, hitting, pinching, biting, or spanking. Spanking is the most used, traditional form of physical punishment, consisting in a beating applied on the buttocks. It involves striking the buttocks repeatedly, usually as a physical punishment, with an open

Joseph Stalin Essay Example For Students

Joseph Stalin Essay Joseph Stalin was a Georgian Marxist revolutionary leader and later dictator of the USSR. He was born in Gori, Georgia. He studied at Tiflis Orthodox where he was expelled from in 1899. After joining a Georgian Social Democratic organization in 1898, he became active in a revolutionary underground, and he was twice sent to Siberia. As a leading Bolshevik he played an active role in the October Revolution. In 1922, he became general secretary of the Party Central Committee, a position that he held until the day of his death. Stalin also occupied other key positions, which enabled him to build up enormous personal power in the government. This is a key point in Stalins life where he was enormously confident about himself which led him to do things that were no acceptable in todays standard life. After the death of Vladimir I. Lenin in 1924 Stalin became leader of the Soviet Union where he made many changes to agriculture and industry. He believed that the Soviet Union was one hundred years behind the West and that they had to catch up as quickly as possible. This is where the idea of his ?Five Year Plan,? came about. The five-year plan basically got the people involved and motivated them into a modern life. From the 5-year plan, 25 million farms were produced which were only big enough to feed the families that were harvesting them. The more successful peasants were called the Kulaks. Along with the five-year plan, Stalin launched a campaign for the ?collectivization of agriculture, where millions of peasants were recognized as part of the civilization. Between 1934 and 1938 he built up a government, and armed forces in which millions of people were imprisoned, exiled, or shot. In 1938 he signed a Non- Aggression Pact with Hitler which bought the Soviet Union two years after the involvement in World War Two. After the German invasion in 1941, the USSR became a member of the Grand Alliance, and Stalin, as was leader, took the name of Generalissimo. He took part in the conferences of Tehran, Yelta, and Potsdam that resulted in Soviet military and political control over the liberated countries of postwar E and C Europe. Much of the blame of the concentration camps and German invasion are blamed on Adolph Hitler, but in the lost shadows is this man, Joseph Stalin. Stalin is responsible for some concentration camps and exiles that went on with the slaves. Joseph Stalin was an evil man. The party of slaves that he started, the Kulaks, (meaning that they had a little bit more than the regular slaves) were being stubborn and they didnt want to give Stalin their crops without him paying a certain fee for them. When the Kulaks started to rebel against Stalin, he was infuriated and he declared war against the slaves. Stalin and his armies overpowered the slaves and they had to surrender to them before anything else occurred. Along with their crops came all the machinery that they had and everything that they possessed. Due to Joseph Stalins actions, many people who were on this collective farm system starved to death. The exact amount of people whom Stalin caused death to is not known but facts prove that t here were many of people who died to his actions. In 1945 he conducted foreign policies which contributed to the Cold War between the Soviet Union and the West. By1950 Stalins mental and physical health had begun to deteriorate and he was absent from the Kremlin, the government headquarters in Moscow, for long periods of time. In January 1953 Stalin ordered the arrest of a group of Kremlin doctors on charges of plotting the medical murder of high-level Soviet officials. A few days later, Stalin died of complications from a stroke in March. After his death, the people were upset while Stalins political successors expressed relief and moved quickly change some of the most brutal features of his regime. Nikita Khrushchev, who replaced Stalin as general secretary of the Communist Party of the Soviet Union, denounced Stalins methods of rule and political theories, known as Stalinism, in his secret speech to the 20th Party Congress in 1956. Stalins historical legacy is really negative, but why shouldnt it be when a human being like him ca n be so evil deep inside and cause people their lives without having any remorse. .ud1f0c38c23c2ca1eded7db1678209f7a , .ud1f0c38c23c2ca1eded7db1678209f7a .postImageUrl , .ud1f0c38c23c2ca1eded7db1678209f7a .centered-text-area { min-height: 80px; position: relative; } .ud1f0c38c23c2ca1eded7db1678209f7a , .ud1f0c38c23c2ca1eded7db1678209f7a:hover , .ud1f0c38c23c2ca1eded7db1678209f7a:visited , .ud1f0c38c23c2ca1eded7db1678209f7a:active { border:0!important; } .ud1f0c38c23c2ca1eded7db1678209f7a .clearfix:after { content: ""; display: table; clear: both; } .ud1f0c38c23c2ca1eded7db1678209f7a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud1f0c38c23c2ca1eded7db1678209f7a:active , .ud1f0c38c23c2ca1eded7db1678209f7a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud1f0 c38c23c2ca1eded7db1678209f7a .centered-text-area { width: 100%; position: relative; } .ud1f0c38c23c2ca1eded7db1678209f7a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud1f0c38c23c2ca1eded7db1678209f7a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud1f0c38c23c2ca1eded7db1678209f7a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud1f0c38c23c2ca1eded7db1678209f7a:hover .ctaButton { background-color: #34495E!important; } .ud1f0c38c23 c2ca1eded7db1678209f7a .centered-text { display: table; height: 80px; padding-left: 18px; top: 0; } .ud1f0c38c23c2ca1eded7db1678209f7a .ud1f0c38c23c2ca1eded7db1678209f7a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud1f0c38c23c2ca1eded7db1678209f7a:after { content: ""; display: block; clear: both; } READ: Community Service Reflection Essay

Chocoberry Ideation Essay Essay Example

Chocoberry Ideation Essay Essay †¢ What techniques will you suggest to CB to bring forth thoughts that can be developed into feasible constructs? Since this is CB’s first raid into consumer merchandises I would suggest that CB use all locales available to bring forth thoughts that can be used to develop into successful merchandises. The diagram given in the figure at the start of portion II of the trial book shows five mobs: Technology End userTeamOther insidersOther Foreigners†¢ Of the many methods for ideation offered in modern-day literature. which represents the best for CB in this state of affairs. and why? We will write a custom essay sample on Chocoberry Ideation Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Chocoberry Ideation Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Chocoberry Ideation Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The technique I would urge CB usage in this state of affairs is to carry on a job analysis. The CEO would wish the research squad to make a cacao merchandise that will hold wellness benefits. Uniting this demand with a solution that would work out a client job would increase the success rate of a new merchandise. The ground job analysis is recommended: â€Å"As an advertisement bureau executive one time said†¦problem list is far better forecaster than want list. † Since jobs are non merchandise specific. CB can bring forth more thoughts that can be used for merchandise development. Additionally. I would suggest that CB work with external resources since CB does non hold any experience in merchandise development or production for consumers. †¢ Who might be selected to execute the ideation. and why? First of all. a new merchandise development squad must be created and assigned the undertaking to work with internal and external resources. To execute the ideation. all internal and external should be together to brainstorm and concept showing. The new merchandise development squad and the fabrication squad must be together. They can brainstorm and acquire a construct. so present the thoughts to the CEO. In this instance. both squads know that the mark group is grownups who wish to indulge in cocoa. but who have been concerned with the wellness facets. Fabrication must be present since there was a concern that non all merchandise thoughts can be produced. †¢ Having screened the thoughts to a choice few. how are constructs generated from the thoughts. and when? The construct should be generated by concentrating on the benefits of the new merchandises bring to the consumer. Such that the new cocoa merchandise will hold wellness benefits that was late discovered. Idea Evaluation ( 50 points ) Once the thoughts are generated. how might they be evaluated to maximise the figure that has the greatest possible and to minimise the chance of rejecting first-class thoughts? †¢ Enumerate the standards that might be applied to suitably measure the thoughts and to finally rank them harmonizing to their possible for CB. Since the job analysis was suggested as method for ideation. the undermentioned stairss needs to take topographic point: Determine the appropriate merchandise or activity class for geographic expedition. Identify a group of heavy merchandise users or activity participants Gather from theses heavy merchandise users or participants a set of jobs associated with the current merchandise †¢ Who would carry on the rating and why? I would suggest an out side adviser with extended experience in the consumer merchandises in general. and the cocoa industry in peculiar. †¢ Concentrating on the choice few constructs. what are the appraising standards that might be used to insulate the one or two that should be recommended for farther development? I propose that a spread analysis be conducted which will place the spread and carry through the spread with new merchandise. This will accomplish two things: The new merchandise will non vie with bing merchandises in which CB will straight vie with its bing clients. The new merchandise will carry through a spread that exists in the cocoa for wellness class of merchandise. †¢ Who would carry on the construct rating and with what tools?

40 Synonyms for Praise

40 Synonyms for Praise 40 Synonyms for Praise 40 Synonyms for Praise By Mark Nichol Last week, I offered a list of synonyms for the word criticize. To avert criticism (admonishment, censure, chastising, and so on), I offer here a roster of synonyms for its antonym, praise, in that word’s verb form as well as when it’s used as a noun. 1. Acclaim: To applaud or praise; also a noun referring to the action of applause or cheering. 2. Acknowledge: To recognize someone or something for services rendered; the word also has the connotation of â€Å"to confirm rights or authority.† 3. Adore: To honor or worship in a religious sense, although its meaning has extended to â€Å"to be fond of, to admire.† 4. Adulate: â€Å"To express excessive praise.† This rarely used verb form of adulation has a connotation of flattery. (See flatter below.) 5. Applaud: To express approval in general, as well as to clap hands or otherwise praise nonverbally. 6. Belaud: To praise, but the sense is of excessive acclaim. 7. Bless: To praise or to glorify in a religious sense; the word also has a secular sense of â€Å"to approve† as well as â€Å"to favor† (the latter in usage such as â€Å"blessed with remarkable talent†). 8. Carol: To praise with song, or in a like manner. 9. Celebrate: To publicly honor in a secular sense as well as a religious one. 10. Chant: A close synonym of carol and hymn. 11. Cheer: To cheer in applause or to express triumph. 12. Cite: To formally call attention to for praise. However, this term also has an opposite meaning of â€Å"to reprimand,† as well as the senses of â€Å"to quote† or â€Å"to refer to,† so the context should be clear. 13. Commemorate: To observe a ceremony of remembrance, or to provide a memorial. 14. Commend: To praise with approval, or to recommend. 15. Compliment: To communicate respect or admiration for someone to that person or another. 16. Crack up: Slang used to refer to someone or something that may or may not be as worthy of praise as previously thought; generally restricted to phrases such as â€Å"not all it’s cracked up to be.† 17. Deify: To glorify, as if to equate the person being praised with a god; this sense coexists with the literal religious sense of according someone the status of a god. 18. Emblazon: Originally meant to inscribe or decorate a heraldic device or bearings; now, the sense is extended to praising, especially in writing, as if to permanently establish the subject as praiseworthy. 19. Eulogize (British English: eulogise): To praise in speech or writing; usually, the connotation is that the subject of praise is deceased. 20. Exalt: To praise extensively. 21. Extol (or extoll): To praise generously. 22. Fete: To honor with a celebration, or to honor in general. 23. Flatter: To praise insincerely or only for selfish motives. The word also has similar senses of â€Å"to depict with excessive favor† or â€Å"to present to one’s advantage,† as well as â€Å"to deceive, as in â€Å"I flatter myself that I acted wisely.† 24. Glorify: To praise with the intent of making the subject appear glorious, but it also means â€Å"to make something or someone seem to be better than it or they really is.† 25. Hail: To greet enthusiastically as a show of approval; the term also has a mundane sense of â€Å"to call or greet.† 26. Honor: To express respect or admiration. 27. Hymn: A close synonym of carol and chant. 28. Idolize: To worship, with a connotation of excessive praise. 29. Laud: To praise; also, capitalized, a religious ceremony. (The adjective form is laudable.) 30. Magnify: To praise, in the sense, as the etymology suggests, of making someone or something appear greater than they or it is. 31. Mention: To identify someone or something for mild praise, often in the form of a consolation prize called â€Å"Honorable Mention.† 32. Rave: To praise enthusiastically. 33. Recognize: To publicly thank someone for their service or otherwise indicate appreciation. 34. Recommend: To endorse or propose as commendable, in addition to the more pedestrian connotations such as â€Å"to advise.† 35. Renown: To offer praise. (In its more common noun form, it means â€Å"fame.†) 36. Resound: To praise, or to become one praised, with the sense of loud approval. The word has an additional sense, more commonly used, of echoing or reverberating. 37. Rhapsodize: To praise excessively, from the noun form, rhapsody, which refers to a literary work that rouses emotions (originally, it denoted recitation of an epic poem). 38. Salute: To praise or honor, in addition to the sense of gesturing to show respect or to otherwise acknowledge someone as a courtesy. 39. Tout: To promote or endorse. It also means â€Å"to spy,† especially in the sense of obtaining information about a racehorse to improve one’s betting odds. 40. Worship: To extravagantly praise, as if the subject were a deity. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:10 Grammar Mistakes You Should AvoidPeople versus PersonsApostrophe with Plural Possessive Nouns

The Affordable Care Act Essay Example | Topics and Well Written Essays - 250 words

The Affordable Care Act - Essay Example he law introduced various mechanisms such as insurance exchanges and subsidies with the aim of increasing and improving healthcare coverage and affordability. Moreover, ACA requires insurance companies to offer healthcare coverage to all applicants in line with the new minimum standards as well as offer similar rates despite sex or pre- existing conditions. Further, the law reforms the healthcare system by reducing costs as well as improving healthcare outcomes (United States, 2010). This is achieved by shifting the system to focus on quality over quantity through regulation, increased competition in addition to incentives to rationalize the delivery of healthcare. ACA exempts some individuals from the plan. These individuals excluded from the insurance mandate included illegal immigrants, citizens not registered in Medicaid even though being eligible, but opting to pay an annual penalty, citizens residing in states not covered by the program as well as the military, and the poor (Gruber & Newquist, 2011). The U.S.A. Supreme Court on June 28, 2012 upheld the constitutionality of ACA’s individual mandate citing that it was within the Congress taxing power in a suit National Federation of independent Business V Sebelius. The Court, however, upheld that individual states cannot be compelled to participate or engage in ACA’s Medicaid expansion under in fear of losing their current Medicaid funding (Gruber & Newquist, 2011). Since its passage and the ruling, ACA has witnessed various challenges in its implantation within Congress, some states, conservative advocacy groups, small business organizations, federal courts, and unions. ACA’s early implantation effort nearly received unanimously negative reactions from media and politicians. Moreover, HealtCare.gov, which is the website permitting citizens to apply for insurance coverage, crashed on the opening and faced a series of problems within first month of implementation (United States, 2010). However, that

Title Essay Example | Topics and Well Written Essays - 1000 words - 1

Title - Essay Example Therefore, our feelings, living conditions, and other important aspects that contribute to a happy life are sacrificed for the benefits of other people. As a result, this has led to unhappy life among the people in different spectrum. In the past one decade, many companies have expanded their markets with the aim of increasing their overall revenues. This is because with the increasing levels of globalization resulting from liberalization of markets, efficient flow of information, and integration of economies, the level of competition has increased tremendously. This results from the entry of multinational companies which have a huge financial base to segment the market, position their products or services strategically in the market and attract customer loyalty towards their products or services. However, the intensified competition has increased the level of uncertainty among the consumers. In the meantime, the customers cannot be able to predict the future prices of the commodities. Each company is trying to implement new strategies in order to increase its market share. Furthermore, they have kept their competitive strategies as a secret in order to lower the chances of the competitors reacting towards their new move. Moreover, the companies keep on introducing new products in the market in order to diversify the source of revenues, an aspect that is aimed at reducing the risks and uncertainties associated with concentrating on a single product. Therefore, these aspects are making it hard for the consumers to know what will happen in the future and whether it will affect their financial stability. In order to a bit feel secure, the customers are forced to undergo some happiness in order to save the available money. This is making it hard for them to lead happy and satisfying lives. Majority of the people are employed in the corporate sector. With the increasing levels of competition in the market,

GST system: Hurdles to implementation

GST system: Hurdles to implementation Executive Summary The differences between the current Sales and Services tax structure and the proposed GST system is also analysed. The current single stage sales and services tax is from 5% to 10% while the proposed broad based GST is 4%. This report also determines the importance of GST to the governments fiscal policies and the potential negative impacts of the proposed GST system to business entities and the people. The main purpose for introducing GST is to make the current taxation system more comprehensive, efficient, effective, transparent and business friendly. The potential negative impact is the problem of price hike as a result of inefficient price control and the additional compliance costs for businesses to have additional work to track input taxes paid. The possible hurdle Malaysia government faces in the process of implementing this new system is also being discussed. The significant informal sector makes the tax system inequitable. Besides, lack of transparency bred uncertainty among the business community. The huge maintenance cost each year of RM8.5 million is burdensome. Moreover, choosing the most suitable tax rate and determine the goods that should exempt take long time. Finally, because exports are generally zero-rated, this is often where GST fraud occurs. This report also critically discusses the tax issues that have arisen as a result of implementing GST/VAT in certain developing countries. The major reason for the decline in Ukraines VAT to GDP ratio lies in the Ukraines tax administration. On the other hand, the VAT evasion, hidden economy size and corruption in Ukraine are closely related. In doing this reports, we conducted our researches through books, journals, online materials, government websites and electronic newspapers. However, there were several limitations while conducting the study. There were only limited numbers of countries which have implemented GST successfully until today. In addition to that, most countries that adopted GST were developed countries such as Australia, Singapore and etc. There were limited numbers of Asian developing countries which has implemented GST. In conclusion, GST can be an effective indirect tax. To make it a success, effective educational programmes and private and public sector partnering is necessary. In planning and implementing the GST, countries like United Kingdom, New Zealand, Australia and Singapore can be used as learning examples for Malaysia. The contributions of our tax systems, especially the consumption taxes to the development of our countrys socio-economic system Accoding to OECD (n.d.), the main purpose for the introduction of tax is to finance the public expenditures as well as addressing socioeconomic concerns. In the globalized market today, most of the companies and individuals are required to pay taxes. Malaysia has adopted a fiscal-like system for the past few decades. Malaysia taxation system comprises of direct and indirect taxation. Examples of direct taxation income and corporate tax whereas indirect taxation includes sales and services tax and also others. Refering to the table 1 below, in 2008, direct taxes accounted for about 51.4% of total taxes and 19.1% comes from indirect taxes (Zakariah and Sulaiman, n.d.). Out of this 19.1%, sales and services tax (consumption tax) accounted for 7.3% of the indirect taxes. Therefore, consumption tax does plays a vital role in total revenue in the country. Table 1: The breakdown of Indirect Tax Revenue in 2008 Table 1: The Gross National Product in Malaysia from 2005 to 2009 Source: http://www.tradechakra.com/economy/malaysia/gnp-of-malaysia-152.php Table 2: Gross National Income expressed in Purchasing Power Parity Dollars Source: http://www.google.com/publicdata?ds=wb-wdimet=ny_gnp_mktp_pp_cdidim=country:MYSdl=enhl=enq=gnp+malaysia Table 2: Gross National Income expressed in US dollars Source:http://www.google.com/publicdata?ds=wb-wdimet=ny_gdp_mktp_cdidim=country:MYSdl=enhl=enq=gdp+malaysia Correction of Market Failures Consumption tax in our country provides a way of changing the pattern of consumers demand by differentiating the prices of goods, this in turn affect their spending decisions. For example, demand for different types of transports will get affected by the total amount of duties charges. From this point, we can see that consumption tax in Malaysia is considered as an instrument in correcting related market failures, for example, externalities. Moreover, in this context, consumption tax is used as a tool in making the polluter pay as well as internalizing the costs of consumption. Increase Overall Productivity Consumption tax in Malaysia is said to have a lower negative impact on the work incentives. This is because sales and service tax leave the choices to the people and is unlikely to distort the alternatives that consumers have to between work and leisure. People tend to work harder when they are allowed to keep more of what they earn. This will then impact on the economic positively and increase the overall productivity of the country. As shown in the figure above, Malaysia GNP and GDP has been increasing over the past 20 years. Improve economic and social overheads Malaysian economy experienced the rapid growth on the GDP from US100Billion in 2002 to US221Billion in 2008. In addition, according to governments data, our country also sees the drop in budget deficit from 7.4% in 2009 to 5.6% in 2010. It is believed that the decrease in budget deficit mainly due to the revenue collection from tax and it is able to stimulate the economic growth by financing investment, which in turn generates higher income and employment through the multiplier effects. Thus, government is able to gain access to immediate rise in money and invest them in the economic and social overheads. In a developing country like Malaysia, consumption tax can be an important instrument of growth as it promotes capital formation, especially in the promotion of social overheads as well as infrastructure. The diagram below shows the importance of sales and service tax in contributing their part to the economy in the indirect tax form. The importance of GST to the governments fiscal policies and our countrys economy Despite the average surpluses of 2% during 1993-1997, Malaysia is brought back to deficit after financial crisis in 1997 (Mahbob Zakariah, nd). Year 2009 saw the biggest fiscal deficit. In responding to the fiscal pressures, Malaysia government focuses on importance of tax rates, an important element under fiscal policies, to alleviate the recession effects. Many developed countries such as US and UK often raise their taxes to overcome fiscal deficits. Often than not, fiscal imbalance tends to lower national savings, thus cause slower economic growth. In order to overcome the problem, government will need to reduce government expenditures and/or raising tax revenues. In fact, the International Monetary Fund reported that it is important for Malaysia to introduce Goods and Services Tax (The Star, 2010). The government managed to lower the fiscal deficit from 7.4% in 2009 to 5.6% in 2010 (The Star, 2010). Besides that, to avoid the middle-income trap, the introduction of GST would help with the socio economic development. An additional estimated RM1billion revenue collected from GST can be well spent and further improve the Malaysias development initiatives, such as transportation, healthcare, education and targeted added value activities. With this, the way GST is utilized will determine whether our country can achieve develped country status by year 2020. Fiscal Policies Create an effective management of tax system GST is imposed at the stages of production and distribution; therefore incorporate a self policing mechanism that lowers the possibility of revenue loss through tax evasion. The proposed GST model will not involve cascading/pyramiding affect (Mahbob Zakariah, nd). This is because tax levied on any goods is determined based on its final value, but not the total number of distribution channels that a particular good passes through. Moreover, in order to avoid the double taxation effect, the output tax to be paid will be offset against the input tax. Widen Malaysias tax base The introduction of GST alleviates the heavy reliance on direct taxes (for example, income tax) and petroleum tax, thus widen Malaysias tax base. Petroleum revenue is reported to be unsustainable in the long run as it is depleting (Mahbob Zakariah, nd).. However, the main issue here is that government has increased its dependence on petroleum revenue as shown in the diagram. When comparing against income tax, GST would be a much stable source of revenue as it is less vulnerable to economic uncertainties. GST is a consumption-based tax, an individuals concumption will determine the amount of tax ones pay. Economic Growth Attract foreign direct investments According to Zainal (2007), Malaysia has been engaging in activities that attract foreign direct investments but it is not fast enough. Koong (2010) reported that proposed GST in Malaysia would be able to allow for a further reduction in the current corporate and indirect tax rate, thus draw in more foreign direct investment to the country. This is because proposed GST would be able to provide a more broad-based tax collection and revenues. Currently, Malaysias corporate tax rate is relatively high compared to other neighbouring countries (Amin, 2009). This is one important key to achieve high-income developed status by year 2020. The introduction of GST assertively realizes high value added economic paradigm. In addition to this, with effective in reduction in corruption, Malaysias GDP will be improved. According to Datuk Akbar Ali (2010), a study showed that an increase of one point in the Corruption Perception Index (CPI) will attract FDI which is equivalent to 0.5percent of the G DP and pushed up the average income by 4 percent. Boost the growth of SMEs (Small Medium Enterprises) GST is not a progressive income tax and it is flat at the determined rate. Therefore, GST preserve the incentive to work and encourage the growth of small medium enterprises. According to Khoo (2010), in line with the proposed GST, it is also important to consider the broadening of tax allowances to include shopping malls, conventions and office buildings will help in reducing corporations burdens. This is especially for those SMEs which incurred high costs and risks in doing business with limited funds. Tax allowances will be able to allow them grow more quickly. Differences between Sales and Services tax structure and the proposed GST system The current sales and services tax is from 5% to 10% while the proposed GST is 4%. 1. Single versus multiple stage GST is charged on the consumption of goods and services at every stage of the supply chain while the current sales tax and service tax is levied at only one stage of the supply chain. 2. Goods and services subject to tax Both GST and Sales Tax operate on a negative concept all goods and services are subject to GST unless specifically exempted. Service tax, on the other hand, operates on a positive concept where only services that are specifically prescribed are taxable. The wider tax base of GST provides more revenue for government and simplifies the task of identifying taxable services under the service tax system. 3. Tax payment and accounting periods In existing structure, sales tax becomes due and payable when there is a sale. On the other hand, service tax is only due when payment is received, and where payment is not received, the tax is accounted for at the end of the 12-month period from the date of invoice issued. Time of supply determines when one should account for GST in the GST returns. The approach used by many countries when adopting GST is that a supply is considered to have taken place at the earliest of the following three events: the time an invoice is issued; or the time any payment is received by the supplier; or the time a taxable supply is made. The GST concept of time of supply is therefore generally wider and there will potentially be changes to the enterprises cash flows under the new tax. 4. Imported services and intangibles Presently, imported services are not subject to service tax. In many GST regimes, imported services are subject to GST through the concept of a reverse charge whereby a supply received from overseas is treated as being made by the recipient of the service rather than by the provider of the service overseas. The recipient of the supply is responsible for the output GST on the imported services. 5. Group registration Company can file consolidated GST returns via group registration to reduce their GST administration costs, where supplies made within a group would be disregarded for GST purposes. This resulted in better cash flow management for the group if goods and services are regularly supplied between group companies. On the other hand, the existing tax structures do not allow consolidated tax filings. In service tax, group relief is available for certain professional services when provided to companies within the same group and subject to certain limitations. The negative impacts of the proposed GST system to business entities and people Timing Problem The present climate of the Malaysian economy is not conducive for the implementation of new tax system. The impact will be contractionary as GDP drop 139% in 2010 compared to 2005 while inflation has been increasing from 2% in 2008 to 5.4% in 2009 due to increases of prices of major inputs like oil prices (CIA World Factbook). Negative impacts to people Currently only 1.8 million individuals from total of 12 million in the workforce paid tax for their salary, but with GST, the entire workforce will be required to pay tax (Malaysian Digest.com, 2010). People earning below average salary will be forced to spend extra annual expenditure in the midst of inflation due to the regressive nature of GST. It is predicted that a slight increase in the prices of goods and services is unavoidable. Although the GST will probably be 4%, the scope of goods and services affected by GST will be very much wider. Moreover, inefficient price control by government results in price hike by unscrupulous traders. This phenomenon is shown in the multiple-fold escalation in prices in almost all products as a result of slight increase in oil prices. Negative impacts to business Economy of Collection indirect and direct compliance cost: GST imposes additional compliance costs for businesses to have additional work to account for the tax, tracking of the input taxes paid, undertaking reconciliations and filings of GST returns (Zaid,2010). In addition, where a business has short credit periods from its suppliers, business need extra finances to purchase supplies when GST is first introduced, result in cash flow burden. Therefore GST is less effective according to Adam Smiths cannon of effective tax system in relation to economy of collection. Neutrality Altered consumer behaviour: One of G.W. Normans qualities of taxation depends on non-interference, i.e. a tax should not impact on the price or volume of commodities traded. Norman argued that value added tax are interferent, as they create imperfections in the market for goods, and in particular for preferences between imported and domestic produce. 90% of Malaysian is not in taxed category and this group of people have to pay taxes for their daily consumption if GST is implemented, which will dampen their spending mood. This would affect SMEs who depend on this group of customer base. Higher bank charges for credit card transactions as a result of GST implementation will raise prices in certain products, adversely affecting SMEs. Experiences in other countries have shown that customers generally go on a shopping spree shortly before the introduction of the tax, followed by a period of relative inactivity after the tax is introduced. Companies may seek extra financing to build up stock to cater for a pre-GST rush. However stock in hand may not be entitled to any input tax credit. Cash Flow issues: GST will hit the cash flow of SMEs, especially businesses with significant funds tied up in unpaid invoices. Businesses need to meet their immediate liabilities to suppliers, staff and the IRA, particularly around tax time. Some businesses were forced to adopt unfavourable ways such as higher deposits or stiffer terms of trade which make small businesses less competitive (Zaid,2010). This condition worsens if tax refund mechanism is not efficient. To register or not to register: Business not subject to the GST would not be entitled to claim the input tax credits on purchases. In a situation where the customers of the business are other GST registered businesses, the supplier may be obligated to license itself as it is likely that the customer would insist on buying from another registered person to enable him to claim the input tax credit (Zaid,2010). Consequently, these SMEs will have to charge higher prices to the customers, eroding their price competitiveness (Zaid,2010). A Supply-Demand Analysis of a GST-Taxed Market Deadweight loss happens if the income lost by the economy is greater than the governments income; the tax is inefficient. While distortions occur, GST are often considered superior because they distort incentives to invest, save and work less than most other types of taxation in other words, a GST discourages consumption rather than production (Zaid,2010). Hurdles to implement GST faced by government Government need to balance the conflict between simplicity and to cater for social needs. However, the more social needs are catered for, the more complex the tax becomes and the more costly it is for the Government to administer and for businesses to comply with it (Trade Chakra, 2010). Informal economy Emran and Stiglitz (2005) argue that VAT is likely to reduce rather than improve social welfare because informal economy like agriculture sector and unregistered business are able to escape commodity tax coverage dominates DTE (Developing and Transitional Economies). According to World Bank, informal economy constitutes 31% of Malaysian economy, almost double the percentage in other Asian countries such as Vietnam (15.6%) and Singapore (13%). The producers of close substitute of the formal VAT-liable commodity will get high profit without bearing tax while formal sector producer may get lower profit and bearing tax. As a result, resources will be channelled more into informal economy, causing inefficiency in resource allocation. Thus the potential tax base is rather narrow which reduce the growth and development. Therefore, achieving equity as proposed by Adam Smith in order to have an effective tax system is difficult through the implementation of VAT in a country that has significa nt informal sector. Lack of transparency PricewaterhouseCoopers Taxation Services Sdn Bhd senior executive director Wan Heng Choon said the lack of transparency bred uncertainty among the business community. The industry guides that will provide guidance of how the GST law will affect various industry sectors have not provided the certainty that was promised. Cost BN government aims to gain RM1 billion through GST, but within the implementation process, a sum of RM222 million has been allocated as initial cost to ensure the smooth and effective implementation of GST system in Malaysia. The allocation will cover the cost of developing the GST computerisation system at RM139 million and the additional operations cost of RM83 million for the agency implementing the system, Malaysian Customs Department. The maintenance cost each year is estimated at RM8.5 million (Office of the Prime Minister, 2010). Rate of tax and exemption The government should carefully choose the most suitable tax rate so that the tax will not burden the poor. If the government offers lower tax rate on necessities with the intention to help the poor, in fact this will benefit the rich more because they will spend relatively less of their income. But high rate in luxury goods trigger the intention to lower tax liability either legally or illegally. Choosing the most suitable tax rate and determine the goods that should exempt are not easy for government and may take long time. Fraud Because exports are generally zero-rated, this is often where GST fraud occurs. In Europe, the main source of problems is called carousel fraud. Large quantities of valuable goods (often microchips or mobile phones) are transported from one member state to another. During these transactions, some companies owe GST, others acquire a right to reclaim GST. The first companies, called missing traders go bankrupt without paying. The second group of companies can pump money straight out of the national treasuries. Reasons of initial failure in GST implementation in two countries example Value Added Tax (VAT) works better than other general sales tax in many of the developed and developing countries. This does not mean that VAT always works well. There are many different reasons for the above conclusion, however only two main issues will be highlighted in the following examples. They are problems with VAT design which were left behind by the policy process and how VAT plays its roles particularly in the low-income countries. Is the country capable enough to administer VAT? The case study below will discuss the problems faced by Ukraine when implementing VAT. A case study in Ukraine Like many other developing countries, VAT has been the workhorse in generating revenue in Ukraine. The way of VAT works will determine the performance of Ukraines entire fiscal system. However, table below shows that Ukraines VAT was in trouble since the tax fully came into effect in late 1990s. The collection inefficiency of VAT lead to the decrease in revenue with respect to the countrys GDP, thus widen the gap between actual revenue and potential revenue (Bird, 2005). In general, as GDP grows, VAT yield should also rises, with at least at the same rate as GDP. However, when Ukraines real GDP rose by 49% from 1998 to 2004, the VAT to GDP ratio was decreased by 33%. Moreover, the increasing dependence of VAT on imports caused the collection of VAT on domestic consumption fell markedly by 4.3% to 1.4% of GDP in 2004 (Bird and Gendron, 2006). It is very clear that VAT system in Ukraine is less efficient in generating revenue for the government. According to Bird and Gendron (2006), the decline in VAT to GDP ratio before 2002 could be explained by the ineffectiveness in the Ukraines tax administration, for example the erosion of tax base in the form of increased exemptions which started immediately once the VAT was introduced. There were just too many exemptions in the VAT. For example, many food processing were taxed at a special rate while later on were allowed to claim the refund. The VAT system later became more complicated as it seemed to give ways for possible evasions and corruptions. However, there was no base changes occurred during 2003-2004 that could possibly explain the decline. There were many Ukraine taxpayers tend to evade when they were trapped within the VAT system. They could possibly hide in the hidden economy. Meanwhile, the VAT evasion, hidden economy size and corruption in Ukraine are closely related. Recently, there was a study found that there was a positive correlation between evasion level and Transparency International (TI) index of perception of corruption (Bird, 2005). Additionally, the evasion in Ukraine was twice the corruption index, which was about 38%. This not only reflects the weak administration but also weak management in structural problems such as the prevalence of underground economy. For example, just two years after the introduction of GST, there were over 83% of the Ukraine VAT registrants filing tax returns annually. In addition, there were also problems with tax administration that related to the application of VAT at the border. A country like Ukraine which is unable to apply VAT on imports properly is said to be facing higher level of difficulties in applying the system to domestic economy. Most of the time, the initial legislation of VAT was closely related to standard international model with participation of international experts. It may look simple at the initial stage, however, as time goes; many countries found that VAT tends to become much complex and difficult to manage. The case study below will discuss the problems faced by Pakistan when implementing VAT. A case study in Pakistan In 1990, Pakistan introduced the GST for the country to replace its Sales Tax Act. As a developing country, Pakistan decided to take the initiative and move a big step forward to introduce GST as GST was said to have futuristic dimensions and political recognition. However, several issues were addressed in relation to the introduction of GST, which remain part of continuously reform process. Undeniably, the introduction of GST in the country has brought about significant improvement in the revenue collection (as shown in the table below). Despite the good performance in revenue collection, there were several shortcomings that were addressed. Multiple Tax Rates In 1992, Pakistan introduced VAT at the rate of 12.5%. In 1995, the rate was then raised to 18% in order reduce the budget deficit by meeting the need for extra revenue. However, there was great pressure from taxpayers in 1998, thus the rate was again reduced to 15%. While on the other hand, industrial raw materials were imposed with a higher rate of 20% (Shahid, n.d.). Moreover, in 1999, a penalty system was established in which a 3% tax was imposed on the supplies made by the registered body to unregistered body. Nevertheless, all these decisions have made the VAT system much complicated with multiple tax rates and create many difficulties for the tax administrative. Additionally, cost of compliance has also increased respectively for the taxpayers (Ehtisham, 2010). The rate was then stabilized at 15% in 2004 (Shahid, n.d.). Registration When GST was first introduced in Pakistan, taxpayers were all required to submit a large amount of documents needed for VAT registration purposes. This then cause unnecessary delays during the physical verification process by the VAT staff as there were just too many documents (Ehtisham, 2010). However, a centralized Registration system was introduced in July 2004 in which it utilized Risk Based Registration Module to handle the paper based registration problems (Shahid, n.d.). Tax Compliance Low tax compliance in Pakistan is another issue that has to be looked into. There were only about half of the tax registrants file their monthly returns. This is mainly due to the negative relationship between the tax administration and tax registrants as mentioned earlier under the registration section (Ehtisham, 2010). The facilitation strategy was then designed and the taxpayers were educated on the related strategy in order to overcome the problem. Adjudication There were numbers of adjudication after the introduction of GST in Pakistan due to unaffordable rate. There was a markedly increase in the number of appeals when the appellate foras were introduced (Shahid, n.d.).. The costs involved were time and revenues. The cost of doing business for taxpayers has been significantly increased due to the involvement in the settlement of the cases. The issue has been addressed and discussed for a couple of years before any action was taken. According to Shahid (n.d.), tax administration finally came up with Alternate Dispute Resolution (ADR) mechanism in which consists of an independent judicial committee to deal with the cases. Conclusion The main purpose for introducing GST is to make the current taxation system more comprehensive, efficient, effective, transparent and business friendly. GST is expected to increase government income and dependence on oil revenues is hoped to be lessen. Besides, GST is aimed to reduce public administration deficit which hit a more than 20-year high of 7.4 per cent of gross domestic product in 2009 (Zaid). Additional RM1bil in revenue will be received for the first year, while the business sector would save RM4.1bil and export sectors would save RM1.4bil (Zaid). The potential negative impact of the proposed GST system is the problem of price hike as a result of inefficient price control by government. GST also imposes additional compliance costs for businesses to have additional work to track input taxes paid, and undertaking reconciliations and filings of GST returns. Malaysians who are not in taxed category have to start paying taxes for their daily consumption, which will dampen their spending mood. As a developing country, it is important for Malaysia to review its fiscal policy continuously. To enhance the competitiveness in the international market, Malaysia must always prepare itself for any possible economic uncertainties. Malaysian government should always make sure sufficient revenues are raised for the country with minimum impacts on its people and resources, while at the same time improve the living standards of the poors. Moreover, government should always seek for ways to lower poverty level in the country, thus a more equitable society can be achieved. In conclusion, Malaysia govenrment and the people in the country have not get themselves ready for the tax reform. There should be continuously review of the policy and the tax reform should only be implemented once the impacts on the country and people is minimized.

Free College Essays - Aesthetic Form of Cantos and The Waste Land :: free essay writer

Cantos and The Waste Land:   Aesthetic Form in Modern Poetry  Ã‚  Ã‚   In the Cantos and The Waste Land, it is clear that a radical transformation was taking place in aesthetic structure; but this transformation has been touched on only peripherally by modern critics. R. P. Blackmur comes closest to the central problem while analyzing what he calls Pound's "anecdotal" method. The special form of the Cantos, Blackmur explains, "is that of the anecdote begun in one place, taken up in one or more other places, and finished, if at all, in still another. This deliberate disconnectedness, this art of a thing continually alluding to itself, continually breaking off short, is the method by which the Cantos tie themselves together. So soon as the reader's mind is concerted with the material of the poem, Mr. Pound deliberately disconcerts it, either by introducing fresh and disjunct material or by reverting to old and, apparently, equally disjunct material." Blackmur's remarks apply equally well to The Waste Land, where syntactical sequence is given up for a structure depending on the perception of relationships between disconnected word-groups. To be properly understood, these word-groups must be juxtaposed with one another and perceived simultaneously. Only when this is done can they be adequately grasped; for, while they follow one another in time, their meaning does not depend on this temporal relationship. The one difficulty of these poems, which no amount of textual exegesis can wholly overcome, is the internal conflict between the time-logic of language and the space-logic implicit in the modern conception of the nature of poetry. Aesthetic form in modern poetry, then, is based on a space-logic that demands a complete reorientation in the reader's attitude toward language. Since the primary reference of any word-group is to something inside the poem itself, language in modern poetry is really reflexive. The meaning-relationship is completed only by the simultaneous perception in space of word-groups that have no comprehensible relation to each other when read consecutively in time. Instead of the instinctive and immediate reference of words and word-groups to the objects or events they symbolize and the construction of meaning from the sequence of these references, modern poetry asks its readers to suspend the process of individual reference temporarily until the entire pattern of internal references can be apprehended as a unity. It would not be difficult to trace this conception of poetic form

Principles of accounts Essay

I would like to express my sincere gratitude to all the persons who have been helpful towards the successful completion of this assignment. First and foremost I would like to thank Shadae Russell, Shakeyra Millington, Jonathon Butler and Ovasha Bartley for their support and assistance towards carrying out the research to complete this assignment. Secondly I want to thank my guardians for providing me with the suitable materials to finalize this assignment. I would also like to thank Mrs. K. Elliot for her assistance and guidance in completing this project. Last but certainly not least I would like to thank God for his extended mercies unto me. Introduction This assignment is about a business that started approximately three (3) years ago which is situated in a busy area that allows it to generate large amounts of money each day to carry out its operations. This assignment contains all the information about this Blanna’s Fashion Boutique business. The information which this assignment contains includes the financial records for the period ending September 30 2011. This assignment serves to keep track of all the money that goes inside the business bank account, all the cash which the business uses within visiting the business bank account, all the money that goes outside of the business bank account, all the money that came into the business by cash and not with the use of cheques and the purposes for each transaction. Therefore this assignment provides a clear understand of all the operations the business under goes on a day to day basis. Table of Contents Headings Page # Cover Page I Title PageII AcknowledgementIII Introduction IV Aim of the Project1 Description of Business Entity 2 Mission Statement 3 Logo and Slogan 4 Accounting Cycle 5 Accounting Information Journals 6-7 Cash Book 8 Ledgers 9-13 Trial Balance 14 Stock Valuation 15-19 Trading, Profit and Loss and Appropriation A/c 20-21 Balance Sheet 22 Bank Reconciliation Statement 23 Accounting Ratios 24-25 Performance of the Business 26 Comparisons 27 Recommendations and Suggestions 28 Conclusion 29 Appendix Price list (showing mark up %) 30 Diagrams Charts and Graphs Pictures Invoices, Cheques, Receipts etc References Aim of the Project The aim of this project is: To arrive at a comprehensive understanding of the financial sector of businesses. To highlight the strength and the weaknesses of the Blanna’s Fashion Boutique business. To present the financial records for the year ended September 30, 2011 for Blanna’s Fashion Boutique business. Description of Business Entity Blanna’s Fashion Boutique is a partnership. This business is owned and operated by Anna Kay Blake, Shadae Russell and Ovasha Bartley a Group of ambitious young ladies. Our main aim is to make a profit while catering for the needs of the community which it is situated in. Blanna’s Fashion Boutique is situated in Montego Bay at the Blue diamond plaza 10 Pearl Street. This business has been in existence since June 20, 2008. We employ approximately fifteen (15) workers. We cater for the petite to the full figured women. We produce a wide variety of slippers, pants, skirts, handbags and accessories. Prices are always lower than that of our competitors. In cases of fashion emergencies you can call us at (1876) 3553980/4275646 or email us at Blanna’s_EmergencyStop5@yahoo. com. The mission of Blanna’s Fashion Boutique is to: Provide the latest fashion for all females Provide goods and services at a reasonable cost Ensure that the quality of our goods meets the standards of our business. Ensure that whatever the business do doesn’t affect the environment negatively. Provide employment for members of the community Provide sponsors to underprivileged children Logo and Slogan Logo Slogan With passion we send out the latest fashion Accounting Cycle General Journal Date Details Folio Debit Credit September 1 Bank CB01 364000 Cash CB01 27160 Debtor (J. Simpson) SL01 31600 Motor Van GL02 62840 Building GL03 100000 Stock 24960 Creditor (Super Supreme) PL01 10560 Capital GL01 600000 Opening entries 610560 610560 Purchase journalPage 01 Date Details Folio Amount 1-Sep Super Supreme International PL01 237,040 27-Sep Super Supreme International PL01 57,960 Sep 30 Total credit purchases to be transferred to the purchases account in the general ledger GL02 295,000 SALES JOURNAL Date Details Folio Amount 5-Sep J. Simpson SL01 57000 13-Sep B. Banton SL03 78,550 20-Sep N. Kidman SL02 104,400 Sep 30 Total credit sales to be transferred to the sales account in the general ledger GL13 239,950 RETURN OUTWARDS JOURNAL Date Details Folio Amount 9-Sep Super Supreme International PL01 13,600 Sep 30 Total return outwards to be transferred to the return outwards account in the general ledger GL16 13,600 Return Inwards Day Book Date Details Folio Amount 24-Sep B. Banton SL03 16,800 30-Sep N. Kidman SL02 9,600 Sep 30 Total goods returned to us to be transferred to the return inwards account in the general ledger GL15 26,400 Cash Book Date Details Folio Discount Allowed Cash Bank Date Details Folio Discount Received Cash Bank September 1 Balance b/d GJ01 27,160 364,000 September 1 Machinery GL3 48,000 September 2 Bank C 50,000 2 Cash C 50,000 3 Sales GL13 59,350 3 Rent GL4 30,000 7 Sales GL13 37,750 6 Fixtures GL5 65,000 18 J. Simpson SJ01 12,000 45,000 8 Wages GL12 10,000 29 B. Banton SJ03 6,175 55,575 11 Insurance GL6 6,100 30 Sales GL13 120,540 11 Electricity GL7 3,300 11 Rates GL8 2,600 15 Super Supreme International PL01 7,500 142,500 15 Wages GL12 10,000 16 Drawings GL10 6,200 19 Furniture GL11 3,600 22 Wages GL12 10,000 29 Wages GL12 10,000 30 Balance c/d 123,075 239,000 18,175 350,375 409,000 7,500 350,375 409,000 General Ledger Date Details Folio Amount Date Details Folio Amount Capital A/C Page 01 September 31 Balance c/d 600,000 September 1 Balance b/d GJ01 600,000 October 1 Balance b/d 600,000 Motor Van A/C Page 02 September 1 Balance b/d GJ12 62,840 September 30 Balance c/d 62,840 October 1 Balance b/d 62,840 Buildings A/C Page 03 September 1 Balance b/d GJ01 100,000 September 30 Balance c/d 100,000 October 1 Balance b/d 100,000 Machinery A/C September 1 Bank CB01 48,000 September 31 Balance c/d 48,000 October 1 Balance b/d 48,000 Rent A/C September 3 Bank CB01 30,000 September 30 Profit & Loss 30,000 Fixtures A/C September 6 Cash CB01 65,000 September 31 Balance c/d 65,000 October 1 Bal b/d 65,000 Insurance A/C September 11 Bank CB01 6,100 September 30 Profit & Loss 6,100 Electricity A/C September 11 Bank CB01 3,300 September 30 Profit & Loss 5,500 30 Accruals c/d 1,200 5,500 5,500 October 1 Accruals b/d 1200 Rates September 11 Bank CB01 2,600 September 30 Profit & Loss 2,600 Drawings September 16 Cash CB01 6,200 September 30 Balance c/d 6,200 September 30 Balance b/d 6,200 Furniture September 19 Cash CB01 3,600 September 30 Balance c/d 3,600 October 1 Balance b/d 3,600 Wages September 8 Bank C01 10,000 September 31 Profit & Loss 40,000 15 Cash C01 10,000 22 Bank C01 10,000 29 Bank C01 10,000 40,000 40,000 Sales September 30 Trading Account 457,590 September 3 Cash CB01 59,350 September 7 Cash CB01 37,750 September 30 Cash CB01 120,540 September 30 Total Credit Sales SJ01 239,950 457,590 457,590 Purchases September 31 Total Credit Purchases PJ01 295,000 September 31 Trading Account 295,000 Return Inwards September 31 Total for month RI01 26,400 September 31 Trading Account 26,400 Return Outwards September 31 Trading Account RO01 13,600 September 31 Total for month 13,600 Discount Allowed September 30 Total Discount Given to customers 18,175 September 30 P & L 18,175 Discount Received September 30 P & L 7,500 September 11 Super Supreme International 7,500 Purchases Ledger Super Supreme International September 9 Return Outwards RO01 13,600 September 1 Balance b/d GJ01 10,560 15 Bank CB01 142,500 1 Purchases PJ01 237,040 15 Discount Received CB01 7,500 27 Purchases PJ01 57,960 30 Balance c/d 141,960 305,560 305,560 October 1 Balance b/d 141,960 Sales Ledger J. Simpson September 1 Balance b/d 31,600 September 18 Discount Allowed CB01 12,000 September 5 Sales SJ01 57,000 September 18 Bank CB01 45000 September 30 Balance c/d 31,600 88,600 88,600 October 1 Balance b/d 31,600 N. Kidman September 20 Sales SJ01 104,400 September 30 Return Inwards RI01 9,600 September 30 Balance c/d 94,800 104,400 104,400 October 1 Balance b/d 94,800 B. Banton September 13 Sales SJ01 78,550 September 24 Return Inwards RI01 16,800 September 29 Discount Allowed CB01 6,175 29 Cash CB01 55,575 78,550 78,550 Trial Balance Blanna’s Fashion Boutique Trial Balance as at September 30, 2011 Details Debit $ Credit $ Capital 600,000 Motor Van Buildings 100,000 Machinery 48,000 Stock 24,960 Rent 30,000 Fixtures 65,000 Sales 457,590 Purchases 295,000 Cash 123,075 Bank 239,000 Wages 40,000 Return Outwards 13,600 Super Supreme International 141,960 Electricity 3,300 Insurance 6,100 Rates 2,600 Furniture 3,600 Drawings 6,200 Return Inwards 26,400 N. Kidman 94,800 J. Simpson 31,600 Discount Received 7,500 Discount Allowed 18,175 1,220,650 1,220,650 Stock Valuation (A) Pants Date Received Issued Balance Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount 1-Sep 12 900 10,800 1-Sep 96 1,000 96,000 12 96 900 1,000 10,800 96,000 3-Sep 12 12 900 1,000 10,800 12,000 84 1,000 84,000 5-Sep 12 1,000 12,000 72 1,000 72,000 13-Sep 24 1,000 24,000 48 1,000 48,000 20-Sep 24 1,000 24,000 24 1,000 24,000 27-Sep 36 1,100 39,600 24 36 1,000 1,100 24,000 39,600 30-Sep 24 12 1,000 1,100 24,000 13,200 24 1,100 26,400 (B) Blouse Date Received Issued Balance Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount 1-Sep 12 400 4,800 1-Sep 96 440 42,240 12 96 400 440 4,800 42,240 5-Sep 12 12 400 440 4,800 5,280 84 440 36,960 13-Sep 24 440 10,560 60 440 26,400 20-Sep 36 440 15,840 24 440 10,560 30-Sep 12 440 5,280 12 440 5,280 (C ) Handbag Date Received Issued Balance Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount 1-Sep 4 1,600 6400 4 1,600 6,400 3-Sep 1 1,600 1,600 3 1,600 4,800 7-Sep 1 1,600 1,600 2 1,600 3,200 13-Sep 1 1,600 1,600 1 1,600 1,600 27-Sep 4 1,650 6,600 1 4 1,600 1,650 1,600 6,600 30-Sep 1 3 1,600 1,650 1,600 4,950 1 1,650 1,650 (D ) Skirts Date Received Issued Balance Quantity Unit Cost Amount Quantity Unit Cost Amount Quantity Unit Cost Amount 1-Sep 12 780 9,360 1-Sep 60 820 49,200 12 60 780 820 9,360 49,200 3-Sep 12 780 9,360 60 820 49,200 7-Sep 12 820 9,840 48 820 39,360 13-Sep 12 820 9,840 36 820 29,520 30-Sep 24 820 19,680 12 820 9,840 (E) Slipper Date Received Issued Balance Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount 1-Sep 48 900 43,200 48 900 43,200 5-Sep 12 900 10,800 36 900 32,400 7-Sep 12 900 10,800 24 900 21,600 20-Sep 24 900 21,600 27-Sep 12 980 11,760 12 980 11,760 Trading, Profit and Loss and Appropriation Account Blanna’s Fashion Boutique Trading Profit & Loss Account for the year ended September 30, 2011 $ $ $ Sales 457,590 Less Return Inwards (26,400) Net Sales 431,190 Less Cost of Goods Sold: Opening Stock 24,960 Purchases 95,000 Less Return Outwards (13,600) Net Purchases 281,400 Cost of Goods Available 306,360 Less Closing Stock (54,930) 251,430 Gross Profit 179,760 Add Revenues Discount Received 7,500 187,260 Less Expenses Wages 40,000 Rent 30,000 Electricity 4,500 Insurance 5,100 Rates 2,600 Depreciation 400 Discount Allowed 18,175 100,775 86,485 Net Profit Add interest on Drawings: Shadae 620 Less: 85,865 Interest on capital Anna kay 12,500 Shadae 7500 Ovasha 10,000 30,000 Salary: Anna kay 12,000 42,000 43,865 Share of Profit: Anna kay 18,277. 08 Shadae 10966. 25 Ovasha14,621. 67 43,865 Balance Sheet Blanna’s Fashion Boutique Balance Sheet as at September 30, 2011 Fixed Assets Cost Accumulated Depreciation NBV Buildings 100000 100,000 Fixtures 65000 65,000 Machinery 48000 400 47,600 Furniture 3600 3,600 Motor Car 62840 62,840 400 279,040 Current Assets Stock 54,930 Debtors 126,400 Prepayment 1,000 Bank 239,000 Cash 123,075 544,405 Less Current Liabilities Creditors 141960 Accruals 1,200 143160 Working Capital 401,245 680,285 Financed by: Capital 600,000 Net Profit 86,485 686,485 Less Drawings 6,200 680,285 Bank Reconciliation Statement Updated Cash Book Balance b/d 239,000 Bank Charges 65 Credit Transfer 4200 Standing Order 15000 Balance c/d 228,135 243200 243200 Bank Reconciliation Statement as at September 30, 2011 Balance as per Bank Statement 222,535 Add Late Lodgments 45,000 267,535 Less Unpresented Cheque 39,400 Balance as per Cash Book 228,135 Accounting Ratios Inventory Turnover Ratio- Cost of Goods sold Average Inventory/2 =244,470 24960+61890/2 =5. 62 Current Ratio- Current assets Current Liabilities =551365 143160 =3. 85 Gross profit as a percentage of sales- Gross profit x 100 Sales =179,760 x 100 457590 = 39. 28% For every sale of $100 the business earns $39. 28 as gross profit. Net profit Ratio- Net profit / Net sales x l00 =86,485 / 431,190 x 100 =20. 06% For every sale of $100 the business earns $20. 06 as net profit. Acid Test Ratio- Current Assets- Stock Current liabilities = 544,405 – 54,930 143160 =3. 42 Performance of the Business In preparing the financial statements of Blanna’s Fashion Boutique the Trading, profit and loss and appropriation account shows a profit of eighty six thousand four hundred and eighty five thousand dollar (86,485) at the end of the financial period of September 30,2011. The business started out with six hundred thousand dollar. In the closing of the financial period of Blanna’s Fashion Boutique there was an increase in the amount of capital that the business has. The business made a gross profit of one hundred and seventy nine seven hundred and sixty dollars (179,760) instead of making a gross loss. Comparisons The comparison is being done between the opening capital and the closing capital for Blanna’s Fashion Boutique, at the end of the financial period. At the beginning of the financial year the opening capital was six hundred thousand dollar (600,000). At the end of the financial period the closing capital is six hundred and eighty thousand two hundred and eighty five dollar (680,285) which means there is an increase of eighty thousand two hundred and eighty five dollar (80,285). Another comparison is being done between the fixed assets of the business and the current assets. The fixed asset of the business is two hundred and seventy nine thousand and forty dollar (279,040) while the current asset is five hundred and forty four thousand four hundred and five dollars (544,405). This means that the amount of money that the business spend of items that stays in the business with no intention of selling it is lesser than the amount of money that the business spend on assets that will allow the business to generate a profit. Recommendations and Suggestions It is recommended that Blanna’s Fashion Boutique: Ploughed back a portion of the profit that the business makes into it. Introduces new products to the business. Purchase new equipment for the business Uses some of the profit that the business makes to attach another department on to the business. It is suggested that Blanna’s Fashion Boutique should: Purchase cheaper equipments to use in the business. This will increase the amount of money available in the business. Offer more sale discounts this will force more customers to purchase from Blanna’s Fashion Boutique. Conclusion It is clear that Blanna’s Fashion Boutique keeps all the records of the transactions that take place in the business over the financial period of time. Blanna’s Fashion Boutique could increase the gross profit and net profit of the business by adhering to the suggestions or recommendations outlined. Never the less Blanna’s Fashion Boutique made a good net profit of eighty six thousand four hundred and eighty five dollars (86,485) during the month of September in 2011. Blanna’s Fashion Boutique was able to make a profit due to the large amount of sales the business made. Price list Goods Price Pants $ Blouse $ Handbags $ Skirts $ Slippers $ INVOICE Debit note Principles of Accounts School Based Assessment (2012-2013) You are required to name the firm and state the nature of the business. This must be in accordance with the items sold*. After the initial accounting entries (Tasks 1 -3) have been completed you will then record the additional adjusting entries as set out at Tasks 4 and 5. You may choose goods from the following list for the transactions. * Computer Store Clothes and Accessories Store A Keyboard Pants (guess) B Mouse Blouse (guess) C Printer Hand bags (guess) D Surge Protector Skirts (guess) E Speakers Slippers (guess) ABC Enterprise (Remember that you are to rename the firm) The following transactions were taken from the books of ABC Enterprise. You are required to asses them carefully then write up the relevant books as outlined in the requirements below: 2011 Sept 1Opening Balances Capital$600, 000 Bank$364, 000 Cash$ 27, 160 Debtor (J Simpson)$ 31, 600 Creditor (Super Supreme International)$ 10, 560 Motor Van$ 62, 840 Building$100, 000 Stock 1doz A$ 10,800 1doz B $ 4,800 1doz D$ 9,360 Sept 1Bought goods on credit from Super Supreme International. 8 doz A @ $1,000 each 8 doz B @ $440 each 4 boxes C @ $1,600 each 5 doz D @ $820 each 4 doz E @ $900 each Sept 1Bought Machinery by cheque $48, 000. Sept 2Withdrew $50, 000 cash from the bank account to be used in the business. Sept 3Cash Sales 2 doz A @ $1, 650 each 1 box C @ $2, 950 each 1 doz D @ $1, 400 each Sept 3 Paid rent by cheque $30, 000. Sept 5 sold goods on credit to J. Simpson. 1 doz A @ $1, 650 each 2 doz B @ $800 each 1 doz E @ $1, 500 each Sept 6 Bought fixtures with cash $65, 000. Sept 7 Cash Sales 1 box C @ $2, 950 each 1 doz D @ $1, 400 each 1 doz E @ $1, 500 each Sept 8Paid wages $10, 000 by cheque. Sept 9Returned goods to Super Supreme International as items were damaged. 1 doz A 1 box C Sept 11Paid the following expenses by cheque: Insurance $6,100, Electricity $3,300 and Rates $2,600. Sept 13Sold goods on credit to B. Banton: 2 doz A @ $1, 650 each 2 doz B @ $ 800 each 1 box C @ $2, 950 each 1 doz D @ $1, 400 each Sept 15Made payment to Super Supreme International by cash $150, 000, received a 5% cash discount. Sept 15Paid wages with cash $10, 000 Sept 16Owner withdrew $6,200 cash to fix his personal motor car. Sept 18Collected Cheque from J. Simpson for goods sold on Sept 5th 2011, $45, 000. Sept 19Bought furniture $3,600 with cash from Courts Ja. Ltd. Sept 20Sold goods on credit to N. Kidman 2 doz A @ $1, 650 each 3 doz B @ $ 800 each 2 doz E @ $1, 500 each Sept 22Paid wages with cheque $10, 000. Sept 241 doz D returned to us by B. Banton as they were the wrong size. Sept 27Bought goods on credit from Super Supreme International. 3 doz A @ $ 1,100 each 4 boxes C @ $1, 650 each 1 doz E @ $ 980 each Sept 29B. Banton settled his account less 10% cash discount. He paid with cash. Sept 29 Paid wages $10,000 by cheque. Sept 30 Received goods from N. Kidman: 1 doz B Sept 30Cash Sales 3 doz A @ $1, 815 each 1 doz B @ $ 800 each 4 boxes C @ $3, 000 each 2 doz D @ $1, 400 each Task 1 Write up ALL Subsidiary Books and then post the transactions to the ledgers. Please ensure that you distinguish between, General Ledger, Sales Ledger and Purchases Ledger. Show the opening entries in the General Journal at September 1, 2011. Task 2 Prepare ABC Enterprise Trial Balance as at September 30, 2011 Task 3 Using the FIFO method of stock valuation, determine the closing stock. Task 4 Design a logo and slogan for your business and provide the relevant information on the business entity Prepare ABC Enterprise Trading, Profit and Loss Account for the month ending September 30, 2011 and a Balance Sheet as at that date, after taking into account the following: a) Insurance expense was paid in advance, $1000. b) Electricity was outstanding by $1, 200 c) Machinery is to be depreciated at 10 % annually using the straight line method (show the depreciation for the month). Show adjustment to the above information in the ledgers. Task 5 Prepare the Bank Reconciliation Statement using the Bank Statement below Bank Statement DR CR Balance $ $ $ Sept 1 Balance 364 000 Sept 1 Burke’s (Machinery) 48 000 316 000 Sept 2 SNPN Ltd (Cash) 50 000 266 000 Sept 8 Wages 10 000 256 000 Sept 11 NWC (Rates) 2 600 253 400 Sept 20 Wages 10 000 243 400 Sept 24 Credit transfer (Q Smith) 4 200 247 600 Sept 29 Wages