Global Encyclopedia Public Administration -Myassignmenthelp.Com

Question: Discuss About The Global Encyclopedia Public Administration? Answer: Introducation In accordance with regulations of IFRS 13 for fair value measurement, fair value is necessarily a market founded system of enumeration and not an entity specific aspect of measurement. Basically, market transactions otherwise market information might possibly be made available or not made available for specific assets and liabilities. Nonetheless, the primary objective of fair value enumeration in each of the two cases can be said to be identical for approximating the price at which particular orderly business transaction to sell or transfer the firms assets occurs between market participants right at the enumeration date (Williams 2014). In essence, this specific regulation of IFRS is pertinent when another IFRS permits fair value measurement otherwise disclosures as regards those measurements (reference to paragraph 5 under IFRS 13). As per paragraph 11, a fair value system of measurement is necessarily for a particular asset otherwise a liability. Therefore, at the time of enumera ting fair value a particular entity has the need to take into consideration various characteristics of asset/liability if market participants would take into account those characteristics during pricing of firms assets/liabilities at the enumeration date. Nevertheless, this type of features comprise of conditions along with locations of the asset together with controls if any on mainly the sell or usage of the firms asset (Warren and Jones 2018). Particularly, asset/liabilities calculated at fair value can be a separate asset or else liability or a group of asset/liability. In essence, historical cost can be identified as the original cost of a particular asset as recorded in the accounting records of a firm. Most of the business transactions recorded in the accounting documents of a business concern are stated at the historical costs (Henderson et al. 2015). In actual fact, a historical cost can be verified by way of accessing the source purchase otherwise trade documents. Nonetheless, historical cost necessarily has the disadvantage of not essentially replicating the real fair value that is expected to diverge from the cost of purchase over a specific time period. According to the accounting standard, historical costs have the necessity for specific adjustments with time. Armstrong et al. (2015) suggests that historical cost differs from several other costs that are necessarily assigned to a particular asset, such as replacement cost else wise cost of inflation adjustment. Nevertheless, historical costs can still be considered as a central notion of r ecording assets, although fair value is substituting the same for particular types of assets. The ongoing substitution of the historical cost by fair value system of dimension is based on the argument that historical cost represents a conventional image of a firm. Nevertheless, the choice between utilizing fair value as well as historical cost scheme of accounting can be regarded to be widely argued matter of concern. Nonetheless, the argument essentially dates back to the year 1990s. Most of the accounting standards, IFRS presents a choice between fair value and historical cost measurement system for different non-financial assets. Furthermore, IFRS also has the requirement of an ex-ante commitment that indicates commitment to one of two stratagems of accounting (Francis et al. 2015). Therefore, managers necessarily have a reason to market demands and commit to a particular accounting treatment that can aid in maximizing value of the corporation. In addition to this, fair value accounting system for diverse non-financial assets have the advantage of augmented value relevance along with information content, reduced information asymmetry and increased comparability. Reports recommend that utilization of fair value instead of historical cost is not essentially random and occurs when benefit overshadows the costs (Hermason et al. 2016). Analysis of benefits along with challenges of utilizing historical cost as well as fair value accounting for both PEE and intangibles According to the regulations stipulated under AASB 116, fair value can be regarded as an amount for which specific asset could essentially be exchanged primarily well-informed and enthusiastic parties especially in arms length business deals. According to paragraph 15 of the directive AASB 116, a specific item of the plant, property as well as equipment that effectively qualifies for recognition and can be regarded as a particular asset can be calculated at cost (Oulasvirta 2016). As rightly indicated by Laing and Perrin (2014) the directives stipulated under AASB 138 lays down accounting treatment for diverse intangible assets that are essentially not in another accounting regulation. Essentially, this specific standard that is applicable to business entities that need to arrange and present financial declarations according to the regulations of Part 2M.3 of Corporations Act and that too necessarily is a business concern. According to the regulations of the standard AASB 138, cost is basically the carrying amount of specifically cash along with cash equivalents that is disbursed otherwise fair value of diverse other considerations that are made available to acquire a specific asset during period of acquirement. Hu et al. (2015) mentioned that this standard when implemented, the complete amount is ascribed to the specific assets during the time when they are initially identified according to precise necessities of the other standards and treatment of accountin g. According to AASB 3, in specific case of a business combination an intangible asset gets acquired, then the cost of that specific intangible asset is presented at fair value at the acquirement date. Fundamentally, fair value of intangible asset might help in reflecting anticipations of market participants at the acquirement date as regards probability that the predictable economic advantages will flow to the business entity (Abbott and Tan?Kantor 2017). However, if a specific intangible that is necessarily acquired in a particular business combination can be separated otherwise it arises from agreements or legal rights, then in that case adequate information exists to calculate asset using fair value dimensions. Business concerns might possibly identify intangible assets along with grants at fair value according to AASB 120. Furthermore, according to the cost model that is described according to paragraph 74 of the regulation AASB 138, after process of initial recognition, a part icular intangible asset of a business entity shall essentially be undertaken at a certain revalued amount that is essentially the fair value registered at the date of revaluation after deduction of any consequent accumulated amortisation and subsequent impairment losses. As rightly indicated by Kaya (2014), fair value dimensions along with systems of accounting treatment for PPE can be regarded to be superior to mainly historical cot that is based on characteristics of predictive value, acquired feedback, representational faithfulness, neutrality as well as comparability and timeliness among many others. Basically, verifiability appears to the lone qualitative characteristic that supports the historical cost system over the fair value system. Edeigba and Amenkhienan (2017) suggest that there are several advantages of utilizing historical cost for valuation of plant, property as well as equipment (PPE) on the balance sheet. Therefore, it is such that historical cost can easily be verified. Usually, the cost that a firm incurs during period of purchase is recorded with different types of contract, expends, transfer taxation-law and many others. In essence, the historical cost of PPE is also used for the purpose of determination of depreciation expenditure that is registered as a deduction from particular historical cost of the firms assets pronounced on the balance sheet. Nevertheless, for impairment, there are specific assets of firms that might possibly be registered at a certain amount that is lower than the one calculated on historical cost (Wingard et al. 2016). In point of fact, the utilization of the historical cost can also bear out to be a disadvantage for the financial information users of various financial declar ations that has the requirement to comprehend the current value. Again, intangible assets might probably has to be valued for various reasons. However, it can be witnessed that fair value dimensions in accounting has higher possibility of getting selected for mainly PPE than firms other non-financial assets since property makers are usually more liquid. There is more likelihood of adopting fair value when it essentially smoothes the progress of enumeration of performance. In this particular case, value transformation of investment property is somewhat informative of diverse operating performance specifically when capital gains become a significant part of the entire business model (Palea 2014). Nonetheless, fair value accounting treatment also adversely exerts impact on various dimensions of performance mainly if administration of the corporation intends to hold different unproductive assets. Detection of valuation exercise for specific non-financial assets In this current study, Woolworths Limited is selected as a listed firm under the Australian Stock Exchange (ASX), Tesco Plc is chosen as a listed firm under the London Stock Exchange and Alcoa Corporation is selected as listed corporation under the New York Stock Exchange. Woolworths Limited: Analysis of Woolworths Limiteds consolidated financial assertions reveal the fact that the entire group presents a general purpose financial statement. This deceleration is essentially prepared as well as presented in accordance with the directives of the Corporations Act of the year 2001, regulations of the Australian Accounting Standard and directives of the Interpretations along with International Financial Reporting Standards (IFRS) (Wow2016ar.qreports.com.au 2018). Analytical evaluation of the financial pronouncement of the firm replicates the fact that plant, property as well as equipment (PPE) of the entire group is necessarily calculated at cost taking away accumulated depreciation otherwise amortisation along with accumulated losses from impairment. In particular, cost incurred for various self-constructed firms assets contains material cost, overhead proportions along with cost of direct labour. As such, the cost incurred for development properties inclu des borrowing, holding cost together with development until the asset becomes complete (Steenkamp and Steenkamp 2016). Essentially, the yearly financial declaration of the corporation also states that PPE are essentially assessed as per the stratagem of impairment of firms non-financial assets. In addition to this, estimation of economic lives also require correct judgement of the management and are assessed every year (Hu et al. 2015). Particularly, in Woolworths case, PPE impairment primarily relates to PPE, assets of the stores along with distribution centres associating to the Home Improvement Business (Wow2016ar.qreports.com.au 2018). In addition to this, according to the annual report of the firm for the financial year 2016, it can be hereby observed that intangible assets of the firm are calculated at cost deducting particular accumulated amortisation along with losses of impairment. However, at the time when intangible assets are gathered in a specific business combination, particular costs replicate the fair value especially at the date of acquirement. Furthermore, intangible assets of the corporation that has finite lives are essentially amortised with diverse finite lives that are necessarily amortised by way of straight line mechanism over estimated economic lives. Tesco Plc: Critical analysis of the annual declaration of the firm for the financial year 2016 replicates that the financial pronouncements of the corporation are both prepared as well as presented in conformation to the directives under International Financial Reporting Standards (IFRS) as has been assumed by the entire European Union (EU) (Tescoplc.com 2018). In essence, financial declarations are necessarily prepared as per the requirements of the Companies Act of the financial year 2006 regarding the financial reports of the entire group and in compliance with the article 4 stipulated under IAS Regulation. As such, analysis of the significant accounting policies of the business concern reflects the fact that the PPE is essentially carried and presented at cost less the particular amount of accumulated depreciation along with any detected impairment value. In itself, plant, property as well as equipment (PPE) is depreciated by utilizing the straight line mechanism to necessarily t he residual value over the approximated economic lives (Tescoplc.com 2018). Analysis of the financial reports of the firm for the FY 2016 also helps in understanding the fact that non-financial asset of the corporation including intangible assets along with PPE; the entire group assumes impairment testing in which there are specific gauges of impairment. However, in specific cases in which asset does not essentially generate cash flows are independent from other assets (Tran and Zhu 2017). Thereafter, the group estimates the overall recoverable amount of cash generating unit. Furthermore, annual financial report of the corporation also reads that intangible assets for example, software together with pharmacy licenses of the corporation are calculated at acquirement cost otherwise costs borne for asset development. Furthermore, expenditure for development on a particular project is essentially capitalized when specific criteria are met. In this case, the asset generated will possibly generate economic advantage in the future. Basically, intangible assets that the firm acquires in a particular business combination are identified at fair value at the date of acquisition (Williams 2014). Nevertheless, after the period of initial recognition, particular intangible assets that have finite economic lives are measured at cost deduction of the amortisation along with accumulated losses for impairment. In essence, they are essentially amortised on a straight line manner over the estimate economic life that rovers around 10% -20% of cost every year. For different ot her non-financial assets including firms intangible assets, the entire group assumes impairment testing especially in cases when there are different gauges of impairment. Alcoa Corporation: Analysis of the annual report of the firm Alcoa Corporation for the financial year 2016 shows that the consolidated financial statements is essentially prepared in compliance to the accounting directives usually assumed in USA that is GAAP. In actual fact, this calls for the firms management to undertake particular judgement, approximations along with suppositions (Warren and Jones 2018). Nevertheless, this might possibly exert impact on the recorded amount of the corporations assets/liabilities together with diverse disclosures on particular contingent assets as well as liabilities at the pecuniary statement date. Particularly in Alcoa Corporation, PPE are documented at cost. In essence, depreciation is recorded using the straight line mechanism at specified rates based on estimated economic lives of firms assets. As such, for different Greenfield assets of the firm that refer to construction of diverse new assets on diverse undeveloped land, different production methods is used for recording the depreciation. Essentially, these assets need a considerable period (usually greater than one year) to augment the overall production potential (Henderson et al. 2015) In actual fact, plant, property as well as equipment (PPE) are assessed for impairment whenever there are specific incidents otherwise transformations in conditions. This necessarily replicates that the carrying amount of this category of assets/group of assets might possibly not be recoverable. Again, it can also be witnessed that asset recoverability can be determined by means of comparing estimated undiscounted flow of net cash operations related to carrying amounts of assets/ group of assets of the corporation (Armstrong 2015). Furthermore, impairment losses can necessarily be identified when firms assets/group of assets carrying amount go over undiscounted net cash flow. The amount of impairment loss has to be registered is calculated as excess of carrying value of the asset or else group of asset of the firm over its fair value. In this, fair value is determined by way of prominent information acquired from discounted cash flow model. In addition to this, determination of what consists of asset groups, the associated estimated undiscounted net cash flow, and the estimated useful lives of the assets requires substantial judgements (Investors.alcoa.com 2018). As per the annual report of the corporation Alcoa Corporation, it can be hereby mentioned that goodwill as well as other intangible assets is not inevitably amortised and instead it is examined yearly or more regularly for the purpose of impairment when impairment indicators exist or when management decides to sell or to exit from business (Francis et al. 2015). Essentially, policies of accounting that are stated in the financial assertions elucidates illustratively that a substantial amount of management judgement is involved in the determination process when a specific parameter of impairment is in place. Furthermore, this types of indicators and might possibly takes in deterioration in usual economic situations, unfavourable developments in equity and credit market, undesirable alterations in the market in which the business concern functions. Essentially, these indicators also contain augmentation in costs of input that essentially have unfavourable influence on earnings, downwar d trend of cash as well as cash flow of the company (Hermason et al. 2016). In essence, impairment tests of mainly goodwill in different previous years presented replicated that the corporations goodwill was not in fact impaired. Particularly, intangible assets that have finite economic lives are unavoidably amortised in a normal way using a straight line mechanism over a specific period of time (Investors.alcoa.com 2018). Assessment whether PPE and intangibles are consistent across three different corporations The calculation of PPE as well as intangible assets of the corporation is moderately consistent among the corporations Tesco Plc and the Australian firm Woolworths Limited, whilst it is somewhat different for Alcoa Corporation. For Tesco Plc, PPE of the firm is essentially carried out at cost less accumulated depreciation together with equipment of the corporation is essentially carried out at cost less accumulated depreciation along with any kind of recognized impairment value. In addition to this, in case of Woolworths Limited, PPE of the overall corporation is necessarily calculated at cost less accumulated depreciation otherwise amortisation along with accumulated losses of impairment. Nonetheless, for Alcoa Corporation, PPE are recorded at cost (Oulasvirta 2016). In essence, depreciation is recorded using straight line mechanism at specified rates based on the estimated useful lives of firms assets. However, in case of intangible assets of the firm Tesco Plc, it is calculated in itially the cost of acquirement otherwise costs that is borne for asset development. Furthermore, specified intangible asset that has finite economic lives are undertaken at cost deducting accrued amortisation along with accumulated losses of impairment. For Woolworths Limited, intangible assets are calculated at cost and deducting from it accumulated amortisation and losses for impairment. In addition to this, in case of enumeration of intangible assets of Alcoa Corporation, assets that have finite useful lines are essentially amortised using straight line methods. Viewpoints as regards free choice between historical and fair value system of accounting The present study aids in comprehending diverse benefits of IFRS that permits free choice between fair value and historical accounting mechanism. In essence, IFRS necessarily has an ex-ante commitment to one of the two accounting schemes. In particular, it is according to the managements concern to limit the overall scope for various actions in the future time period, for let us say, management of firms earnings. Therefore, managers have specific incentives to properly react to different market demand and commit to accounting treatment that subsequently can aid in optimization of the overall value of the corporation. Laing and Perrin (2014) suggests that fair value accounting for different non-financial assets of the corporation heads to augmented relevance value along with content regarding information, reduced comparability. Prior reports recommend that the choice to use and adopt the fair value is not undertaken arbitrarily and takes place when the acquired benefits surpass the sp ecified costs. Nonetheless, there are substantiations that help in replicating that net benefits that can be acquired from this fair value accounting treatment is necessarily limited in scope (Hu et al. 2015). Hence it can thus be inferred that the choice between two diverse systems need to be specified in the financial assertions of the corporation following the assumptions of directives of IFRS. Essentially, this has the need to be consistently applied moving forward. References Abbott, M. and Tan?Kantor, A., 2017. Fair Value Measurement and Mandated Accounting Changes: The Case of the Victorian Rail Track Corporation.Australian Accounting Review. Armstrong, C., Guay, W.R., Mehran, H. and Weber, J., 2015. The role of information and financial reporting in corporate governance: A review of the evidence and the implications for banking firms and the financial services industry. Edeigba, J. and Amenkhienan, F., 2017. The Influence of IFRS Adoption on Corporate Transparency and Accountability: Evidence from New Zealand.Australasian Accounting, Business and Finance Journal,11(3), pp.3-19. Francis, B., Hasan, I., Park, J.C. and Wu, Q., 2015. Gender differences in financial reporting decision making: Evidence from accounting conservatism.Contemporary Accounting Research,32(3), pp.1285-1318. Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015.Issues in financial accounting. Pearson Higher Education AU. Hermason, R., Edwards, J. and Maher, M., 2016. Accounting Principles: Managerial Accounting. Hu, F., Percy, M. and Yao, D., 2015. Asset revaluations and earnings management: Evidence from Australian companies.Corporate Ownership and Control,13(1), pp.930-939. Hu, F., Percy, M. and Yao, D., 2015. Asset revaluations and earnings management: Evidence from Australian companies.Corporate Ownership and Control,13(1), pp.930-939. Investors.alcoa.com. 2018. Available at: https://investors.alcoa.com/~/media/Files/A/Alcoa-IR/documents/annual-reports-and-proxy-information/annual-report-2016.pdf [Accessed 26 Jan. 2018]. Kaya, C.T., 2014. Fair Value Accounting Under FAS 157 and IFRS 13: Evidence from Borsa, Istanbul.GSTF Business Review (GBR),3(2), p.7. Laing, G.K. and Perrin, R.W., 2014. Deconstructing an accounting paradigm shift: AASB 116 non-current asset measurement models.International Journal of Critical Accounting,6(5-6), pp.509-519. Oulasvirta, L., 2016. Accounting Principles.Global Encyclopedia of Public Administration, Public Policy, and Governance, pp.1-9. Palea, V., 2014. Fair value accounting and its usefulness to financial statement users.Journal of Financial Reporting and Accounting,12(2), pp.102-116. Steenkamp, N. and Steenkamp, S., 2016. AASB 138: catalyst for managerial decisions reducing RD spending?.Journal of Financial Reporting and Accounting,14(1), pp.116-130. Tescoplc.com. 2018. Available at: https://www.tescoplc.com/media/264194/annual-report-2016.pdf [Accessed 26 Jan. 2018]. Tran, A. and Zhu, Y.H., 2017. The impact of adopting IFRS on corporate ETR and book-tax income gap. InAustralian Tax Forum(Vol. 32, No. 4, p. 757). Tax Institute. Warren, C.S. and Jones, J., 2018.Corporate financial accounting. Cengage Learning. Williams, J., 2014. Financial accounting. McGraw-Hill Higher Education. Wingard, C., Bosman, J. and Amisi, B., 2016. The legitimacy of IFRS: An assessment of the influences on the due process of standard-setting.Meditari Accountancy Research,24(1), pp.134-156. Wow2016ar.qreports.com.au. 2018. Available at: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-financial-report.pdf [Accessed 26 Jan. 2018].

The Consumerism Features

Table of Contents Introduction Consumerism in the 18th Century Consumerism before the World War 1 era Consumerism in the Post World War 1 era Consumerism in the twentieth century Conclusion References Introduction It has become a clichà © that the world we inhabit is a consumer centered world, otherwise known as a consumer society. The modern world has been taken over by a consumer culture that stemmed from the consumer revolution. The desire to have luxurious goods and services has come to be common in the modern society (Stearns, 2010).Advertising We will write a custom essay sample on The Consumerism Features specifically for you for only $16.05 $11/page Learn More Consumerism in the 18th Century The features of consumerism that had prevailed in the pre modern society had a global inclination. Pre-modern consumerism had developed extensively in Asian nations like China and in the Middle East compared to Western Europe. Consumption relied heavily on international trade for instance Chinese silk. Consumerism in the western countries depended heavily on the global consumerism patterns then. It was stimulated by access to new goods from other countries sugar, silk and cotton from India. Also, the huge profits and goods they got from global trade and trade in slaves that benefited western European states and the northern America (Stearns, 2010). As the contacts of western European’s contacts replicated through colonial acquisitions, businessmen and diplomats from the West modeled consumer centered aspects. They wanted to replicate consumer behavior back at their home. Tourism has also contributed to the spread of the European consumerism. Western people persuaded other people to open up to the new forms of consumerism with promises of big markets for western made products in exchange with allowing colonialism. Communities which already had some elements of consumerism merged these elements with those of the people from th e west. Finally consumerism became a norm and came to shape societal elements –the socio-economic changes (Stearns, 2007). Consumerism then did not spread in an even manner. Some form of resistance developed then due conservatism of old communities. Expansion of globalism at the global level had common elements the spreading of goods and methods of marketing used in Western Europe. Economic factors affected consumerism. Some communities had poor economies as compared to others. The spread of consumerism contained aspects of western civilization. Western consumerism patterns are considered to be the most successful (Stearns, 2007). Hilton (2003) observes that when the twentieth century is talked about, consumption, prices and a material culture are terms that cannot be evaded. These form a background of how the 20th century was understood. During this century, notions of producing goods, labor and wage among other forms of ideologies combined to bring about a Productivity Ment ality. This mentality was a big contributor of the growth in consumerism.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The sudden rise in production as a result of the early revolution in industry which was accompanied by massive production of goods and services encouraged consumption. The market rules and forces of supply and demand necessitated a rising in demand. Revolution in industry led to revolution in production. Later, the rise in production led to the rise in the problem of consumption. Need for consumers became the biggest problem. Consumption was raised to a high level such that it became impossible to sustain. However, this religion of consumerism was contrary to the real religion as religion taught a control of desire while consumerism encouraged the desire to consume. In the world of materialism, this culture has to be pulled into science. Business, as a subject was introd uced into American universities as an academic discipline (Stearns, 2010). Consumerism before the World War 1 era The world experienced a business boom in the early 1920s. The economy experienced a stable growth and expansion. The growth in the economy was fueled by three factors; availability of machines to be used in the production process, factories which dealt with processing and manufacturing of goods and a standardized process of mass production. These three factors brought about a certain cycle which was self perpetuating. Standardization in massive production of goods led to a build up of better and effective machinery in the factories. This in turn fuelled higher productivity of goods which was accompanied with higher salaries and wages. With improved production and good wages, a higher demand for goods to consume was inevitable. This demand in turn led to more standardization in production of goods. The business boom progressed until 1929 (Stearns, 2007). The boom in the 1 920s was triggered by a number of factors. One of them was the First World War. This war affected technology in a very big way. The consequences of the war stimulated old industries for instance the steel and petroleum industries thus helping create a ray of new industries like plastic and rayon. The expenditure grew in this period with more being spent on purchasing and establishing new machines for industrial production. Growth in scientific management also came to be at this period. In 1920s, the government of the United States implemented management in science at a very large scale. It invested a lot of money into scientific research. Then, there was a sharp rise in productivity by workers. Earnings of workers swell making them to become regular consumers. There was also the psychology of consumption that had germinated in Americans. It is also referred to as conspicuous consumption; and the culture seemed to dominate the mindset of Americans at the aftermath period of the First World War. Examples of this culture included radio establishment, motion pictures, invention of electronic appliances and a revolution in automobile goods.Advertising We will write a custom essay sample on The Consumerism Features specifically for you for only $16.05 $11/page Learn More The psychology that was inclined to consumption was more visible in the automobile industry. The last factor was the relationship that existed between the government and business. During this period, big businessmen in America enjoyed more than they did enjoy in progressivism. The federal government supported big businesses in an enormous way (Stearns, 2007). Consumerism in the Post World War 1 era After the period of the great depression of the 1930s, more countries began to focus more on Science and Technology. This was seen as a solution to the many problems that were taunting humanity then. There were a lot of innovations and inventions which led to an upsurge of ne w products in the market. Desire to test the newer products that were being produced became the order of the day. Consumption became more of a way of living with people consuming without even considering the dangers posed by some of the products. Concerns about the environment cropped up with people who cared about the environment advocating fro safer consumption patterns. Conservatism arose from these concerns. The conservatives were against the use of products which had detrimental effects to the consumers and the environment. An example is the debate that arose about the effects of using a chemical called dichlorodiphenyltrichloroethane – DDT that was used for making pest control chemicals (Stearns, 2010). At the second half of the twentieth century, there was a massive growth of the world population more so in Western European Nations. The growth in the world population can be attributed to the revolution in agriculture. The growth in population due to bettered lives from agricultural production encouraged people to settle and reproduce thus a swell in population that called for increased production of goods to meet the growing population therefore encouraging a culture of consumption (Caldwell, Caldwell, Caldwell, McDonald, Schindlmayr, 2006). Consumerism in the twentieth century Globalization is a strong factor that has promoted the culture of consumerism. In the countries are actively involved in the globalization process like Brazil and the Asian tigers for instance Singapore, South Korea and China, there has been an increase in consumption because of the rapid growth in industry. China has become the second consumer of crude oil in the world because of the high rate at which it is developing to match the pace of the developed world (Agarwal Dubey, 2003).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Massive production of goods and services has cultivated the culture to consume. As nations continue to compete, newer and more diverse goods and services continue to emerge. Therefore, all these are adding up to this culture of consumerism. Production of goods and services has grown to a surplus level. These goods have had to be dumped in the developing world. For instance, The African market has been flooded with Chinese electronic products (Stearns, 2007). Conclusion The modern world is characterized with the culture of consumerism. This culture began in the early years of civilization. However, consumerism gained momentum during the end of 18th century through the early period of the twentieth century. Consumerism has grown due to a number of reasons which include industrial revolution, population growth, and scientific and technological revolution. Though, with adverse effects to the environment, this culture is unlikely to be reversed. References Agarwal, S. K., Dubey, P. S. ( 2003). Environmental scenario for 21st century. NewDelhi: A.P.H. Pub. Corp. Caldwell, J. C., Caldwell, B. K., Caldwell, P., McDonald, P. F., Schindlmayr, T. (2006). Demographic Transition Theory. Berlin: Springer. Stearns, P. N. (2010). World history in brief: Major patterns of change and continuity. Boston: Longman. Stearns, P. N. (2007). World history in documents: A comparative reader. New York: New York University Press. This essay on The Consumerism Features was written and submitted by user Alex Henry to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Free Essays on Use Of Poetic Devices In Poe’s The Raven

Use of Poetic Devices in Poe’s The Raven In Edgar Allan Poe’s The Raven, he uses many devices commonly seen in poetry. These devices are what makes his poem effective to the reader and draws the reader into the story being told. He also uses these devices to set an uneasy tone in the poem so the reader can never predict what is to happen next. In The Raven, Poe sets the poem at midnight in the cold, gloomy month of December, â€Å"Once upon a midnight dreary, while I pondered, weak and weary†¦Ã¢â‚¬  (997) This setting fulfills Poe’s desire to create a dismal tone. He uses midnight as it is a very dark and mysterious time of day. â€Å"Ah, distinctly I remember it was in the bleak December†¦Ã¢â‚¬  (997) Poe chose December because it is a time when trees and wildlife are dead and many people stay inside, this gives the poem a feeling of death and solitude. The month of December can also be give the reader the impression of the ending of a major part of the narrator’s life, being that December is the end of the year. Poe uses two major tones in his poem, that of melancholy and of mourning. Rather than simply describing the narrator to be sitting in a room, Poe says he sits in a chamber which sparks thoughts of solitude and loneliness. He gives the room a creepy feel, as he describes things he sees around the room, â€Å"And each separate dying ember wrought its ghost upon the floor†¦ silken sad uncertain rustling of each purple curtain Thrilled me – filled me with fantastic terrors never felt before.† (997) Poe describes the fire as casting ghosts on the floor to make the reader feel an uneasy presence in the room. The second part of the quote further sets a feeling of melancholy, describing the curtains as being sad, while incorporating the narrator’s fear to show that something unexpected is to happen next. Poe incorporates the use of symbolism to make his readers really think about the objects in his poem and what ... Free Essays on Use Of Poetic Devices In Poe’s The Raven Free Essays on Use Of Poetic Devices In Poe’s The Raven Use of Poetic Devices in Poe’s The Raven In Edgar Allan Poe’s The Raven, he uses many devices commonly seen in poetry. These devices are what makes his poem effective to the reader and draws the reader into the story being told. He also uses these devices to set an uneasy tone in the poem so the reader can never predict what is to happen next. In The Raven, Poe sets the poem at midnight in the cold, gloomy month of December, â€Å"Once upon a midnight dreary, while I pondered, weak and weary†¦Ã¢â‚¬  (997) This setting fulfills Poe’s desire to create a dismal tone. He uses midnight as it is a very dark and mysterious time of day. â€Å"Ah, distinctly I remember it was in the bleak December†¦Ã¢â‚¬  (997) Poe chose December because it is a time when trees and wildlife are dead and many people stay inside, this gives the poem a feeling of death and solitude. The month of December can also be give the reader the impression of the ending of a major part of the narrator’s life, being that December is the end of the year. Poe uses two major tones in his poem, that of melancholy and of mourning. Rather than simply describing the narrator to be sitting in a room, Poe says he sits in a chamber which sparks thoughts of solitude and loneliness. He gives the room a creepy feel, as he describes things he sees around the room, â€Å"And each separate dying ember wrought its ghost upon the floor†¦ silken sad uncertain rustling of each purple curtain Thrilled me – filled me with fantastic terrors never felt before.† (997) Poe describes the fire as casting ghosts on the floor to make the reader feel an uneasy presence in the room. The second part of the quote further sets a feeling of melancholy, describing the curtains as being sad, while incorporating the narrator’s fear to show that something unexpected is to happen next. Poe incorporates the use of symbolism to make his readers really think about the objects in his poem and what ...

Usage Examples of Anecdotes in Speeches and Essays

Usage Examples of Anecdotes in Speeches and Essays An anecdote is a short scene or story taken from personal experience. Anecdotes can be useful for setting the stage for a speech or personal essay. An anecdote often relays a story that can be used as a theme or lesson. Pronunciation:  AN -  eck  -  doh​t​Also Known As: incident, story, narrative, account, episode. Examples of Usage The story below could be used as an introduction to a speech or short story about personal safety: After the long Ohio winter, I was so happy to see the first signs of spring that I ran outside as soon as I saw our first flower blooming. I plucked the dewy, white blossom and tucked it into my hair band and went about my day with joy in my heart. Unfortunately, I didnt notice that my big white flower had been host to a dozen or so tiny bugs, that apparently enjoyed a new home in the warmth and security of my hair. I was soon itching and twitching like a scrappy dog. Next time I stop to smell the flowers, Ill make sure Ill do it with my eyes wide open. The anecdote provides a lead-in to the overall message of your speech or essay. For example, the next sentence after the anecdote could be: Have you ever delved head-first into a situation and run straight into trouble? Using Anecdotes to Set the Stage See how this anecdote can provide a moral or backdrop for a speech or essay about staying alert? You can use many small events in your own life as anecdotes to set the stage for a greater message. Another time when anecdotes are often used is during a seminar. For example, a seminar covering race car vehicle suspension may begin with a story about how the driver or engineer became aware of a strange problem with a car. Although the subject of the seminar may be highly technical, the introduction story - or anecdote - may be simple or even humorous. School teachers and college professors will often use anecdotes as a way of easing students into a complex issue. It could be argued that using anecdotes this way is a roundabout way of introducing a subject, but people use examples in everyday speech to make a subject more easy to understand and to clarify the more complex part of a narrative to follow.

Differentiate among the three fungal phyla Assignment

Differentiate among the three fungal phyla - Assignment Example This organism is commonly referred to as the bread mold (Tortora, Funke & Case, 2012). Organisms in this phylum obtain their nutrients through absorptions. They usually secrete hydrolytic enzymes that can break large molecules into simpler substances in a process of decomposition. They then absorb the simpler substances as their nutrients. Organisms in this phylum are important to humans because they are used in producing coloring agents and anesthetics. They are also important in agriculture because they help in decomposition that returns nutrients to the soil. They also increase the absorption of water and minerals from the soil by agricultural crops. Organisms in this phylum reproduce both sexually and asexually. The asexual reproduction process of ascomycetes involves conidia formation. The sexual reproduction these organisms differs from those of Zygomycotes. For example, unlike the zygomycota, the haploid stage of reproduction of the ascomycetes involves joining of male and female gamete producing cells. The sexual reproduction of these organisms leads to the formation of Ascospores. An example of organism in this phylum includes the baker’s yeast The ascomycetes obtain their nutrients the same ways as zygomycetes. For example, they decompose the surfaces of their surrounding using their strong digestive enzymes. The decomposed substances are them absorbed into their cells in form of molecules. They obtain their nutrients from dead matter or through a symbiotic relationship with some living organisms. Ascomycetes are also used in food production. For example, the baker’s yeast is used in making many products such as bread and wine. In addition, their ability to decompose substances makes them important in agriculture just like the zygomyotes. In addition, they provide nitrogen to some plants during symbiosis. Unlike the other phyla, organisms in this phylum only reproduce sexually. They

Environmental Scan Essay Example | Topics and Well Written Essays - 1500 words

Environmental Scan - Essay Example Identification and Analyzing of External Environment Factors The most important external environmental factor of a non-profit organization can be identified through analyzing the issues directly related to the organizations’ operational efficiency in the particular industry. The first important factor affecting TDL Ventures is that of the financial issues. It is important to analyze whether the funds generated for accomplishing the organization’s goals are adequate or not. The essential task related to this factor is to satisfy the founder providing the money for the purpose. For mitigating the risk associated with this factor, TDL Ventures has overviewed and assessed costs associated with activities related towards delivery of services to the clients. On assessment of these issues, TDL Ventures can be stated to be in a position to carry the costs of its service within the non-profit social service industry in the US. The second most important external factor for TDL Ve ntures is the notion of both governmental and non-governmental organizations towards these social service organizations. It is, in fact, true that government and non government organizations confer a caustic overview towards these non profit organizations. This factor was a challenge for TDL Ventures during the time of its incorporation. However, pertaining to the level of importance of this specific social service to the people, the organization found adequate founders for its operations and is gradually leading to its success path (Handy & Ranade, 2000). The third most important external factor is related to the social issues governing the operation of a non profit organization. Traditionalistic cultures of the society are an influencing factor for successful operation of TDL Ventures (Twombly, 2011). Traditions prevailing within the society (either positive or negative) were required to be analyzed for effective identification of those factors. It was observed from identification process of the traditionalism that a certain portion of the society was supportive towards its existence while on the other hand, certain other portion was in an ambiguous position towards its existence. For copping up with this situation, TDL Ventures utilized several initiatives related to welfare reforms of the society and in the due course of time the society accepted its existence. At the same time, it was also required for TDL Ventures to make an assessment of cost-benefit position with regard to the societal factors. The societal cost incurred for bringing the organization into existence was to be compared with the societal benefits to be acquired from its operations. It was found from the comparison that social benefits in the form of providing a healthy lifestyle to the blind people in the society was much more than that of the costs initially encountered for the foundation of TDL Ventures (Business Studies Online, 2002). Identification and Analyzing of TDL Venture’ s Internal Strengths and Weaknesses TDL Ventures holds a strong workforce which is determined towards the achievement of its goals, both short-term as well as long-term. TDL Ventures similar to any other non profit organizations enjoys benefits from its external environmental issues as well, apart from its internal strengths. However, it is also true that it is

Place and Memory Essay Example for Free

Place and Memory Essay Perhaps the strongest case for memory is made in the context of the places we occupy. It is not easy to forget what happens in our lives with reference to the space we occupy. In other words, we remember our experiences, especially the most important ones, with reference to the places we occupied at the time of those experiences. Elizabeth Liebert (2004) has written: â€Å"Novelist Barbara Kingsolver loves the places where she writes. She observes: ‘Whether we are leaving it or coming into it, its here that matters, it is place. Our greatest and smallest explanations of ourselves grow from place, as surely as carrots grow in the dirt. ’† According to the author, we learn about ourselves with references to the memories we have about certain places. If I happen to find something I dislike or disagree with in a particular place, for instance, I will be reminded of my sure likes and dislikes whenever I hark back to my specific experience of disliking or disagreeing with something in that particular place. In fact, I had an important experience in Aruba that would explain this phenomenon. I paid a twenty-day visit to the island of Aruba when I was fifteen years of age. Three of my older cousins accompanied me to the gorgeous 32 km long island in the Caribbean Sea. The weather was warm and sunny. The landscape: cactus-strewn. Aruba offers tourists natural, historical and cultural attractions they would not find elsewhere. Still, I find myself repressing my memories of Aruba whenever they occur. My cousins and I visited many places in Aruba by ourselves. These interesting places included the Alto Vista Chapel; the Arikok National Park; Bushiribana Balashi (historical gold mines); the California Lighthouse; and the Palm and Eagle Beaches. Although we made very short visits to these wonderful places, we felt very fortunate to be there. A week before we were suppose to return home from Aruba, my cousins and I decided to take a tour bus to the Ayo Rock Formations that have been described as the town of Bedrock in The Flinstones. We had learned about the puzzling geological formations in Aruba, and about the Ayo Rock Formations we were particularly excited because we all had read in our travel guide that this place was once a dwelling place of an ancient race that left petroglyph markings on stone boulders. And, the area is surrounded by huge stones that seem as though they had been stacked on top of each other by giants! On our way to the Ayo Rock Formations, however, a rather unfortunate incident occurred. Our bus had stopped at the red signal on an empty road when a motorbike came very close to our vehicle, as if out of nowhere. There was a young girl sitting in front of the man riding the motorbike. She yelled at the top of her voice: â€Å"Help! Rape! † That is all I remember hearing at the time. I was nervously moving in my seat on the bus, only trying to understand what had just taken place, when our tour guide stepped off the bus to confront the man on the motorcycle. I had actually not seen him getting off the bus. I only gathered that he had left our bus when I saw him being stabbed in his shoulder by the man on the motorbike! The next thing I knew was that the driver of my tourist bus drove off in a rush, leaving the tour guide behind. Many tourists on my bus questioned him anxiously as he drove the bus at top speed. But the man refused to say why he had done what he did. Of course, there were many complaints to the authorities later on. All the same, we could not undo the act of the driver, or the man on the motorbike who had stabbed the tour guide before my eyes. I have never returned to Aruba, and I believe that I never will. Several of my friends have tried planning out a trip to Aruba with me, knowing that I have been there before and may be able to guide them. I do not think I would be able to guide them, however. I do know that that place and experience taught me that I love justice and refuse to empathize with those who do not submit to it, such as the bus driver, who left the tour guide in the lurch, or the man who stabbed our tour guide in the shoulder. I have often told my friends that I hate Aruba. Today I question myself: Do I really hate the place that has made me understand that I love justice?