Benchmarking report Assignment Example | Topics and Well Written Essays - 1250 words

Benchmarking report - Assignment Example In addition, it aims at identifying Auburn city’s business sustainability gaps and giving necessary recommendations for improvements. This benchmarking report outlines the methodology used to select the comparative organizations, Moreland and Conroe. Also, it provides a detailed comparison of Auburn city to both Moreland and Conroe as far as environmental, economic and social sustainability is concerned. This is followed by identification of Auburn’s business sustainability gaps and provision of action plans that are considered appropriate for the desired outcomes. The report ends in a conclusion stating the general significance of sustainable development to business organizations. 2.0 Scope and Nature of the Research The success of this research relies upon proper selection of the comparative organizations and detailed analysis of their strategic and sustainability objectives. A number of benchmarking criteria are used to achieve maximum level of comparison. These incl ude their Cultural and Linguistic Diversities (CALD) within their operational environments (Khondker, 2004). Among the criteria are the manufacturing levels of these organizations and the methods used to develop sustainability policies in the manufacturing process. Another suitable comparative measure is the low social environment which also encompasses the development of personal and organizational knowledge and skills (Irani, 2011). Auburn, Moreland and Conroe are also worth being compared based on strategies used to maximize sustainability including waste, energy, water, training, R & D, business networking, job creation and crime reduction. These benchmarking standards are considered the most suitable for this study as they can effectively be used to analyze Auburn’s sustainability strengths and gaps (Irani, 2011). The two organizations, Moreland and Conroe prove to be the best for benchmarking against Auburn Council since they can provide the most significant initiatives to foster, implement and support business sustainability. Two matrices containing the above named benchmarking measures are used for this study as the best research tools. The first matrix is used to select the two organizations, Moreland and Conroe, on the basis of their Cultural and Linguistic Diversities (CALD), manufacturing and low social environments. This matrix helps in understanding the Auburn city’s strategic and sustainability objectives in comparison to Moreland and Conroe cities since these three organizations bear some form of similarities on the above named criteria (Khondker, 2004). The second matrix is used to classify the environmental, economic and social sustainability of the three organizations and the factors considered in this case are together with waste, energy, water, training, R & D, business networking, job creation and crime reduction. This second matrix helps in identifying Auburn city’s business sustainability gaps which are useful for g iving the necessary recommendations for improvements. 3.0 Performance and Gaps Auburn is traditionally manufacturing based, culturally diverse and socially and economically disadvantaged (Payor, 2013). Critical analysis of its performance and identification of any necessary gaps relative to Moreland and C

Dubois and Washington Essay Example for Free

Dubois and Washington Essay In assessing the suitability of W. E. B. DuBois and Booker T. Washington approaches towards the black development goals in the South of Jim Crow laws era we need to have a little ides of what the Jim Crow laws were designed to achieve. Permitting African Americans to develop while those laws were in place and peaceful struggle to work against the discriminatory laws would be my standard of suitability of the measures used by the two Race Leaders. I believe that Washingtons approach was too meek and would have damaged the black cause. On the other hand Duboiss approach seems arrogant for the time. Both Race Leaders being in the same period must have had a positive effect on the black rights as each approach considered separately was likely to be harmful to the black cause. Jim Crow Laws During the period of slavery, the relationship between white masters and black slaves was clearly defined as that of a master and slave, with all the rights belonging to the master and none to the slave. Once the blacks were declared as free, the need for keeping the ex-slaves in their place became important and the states and local communities began to pass laws to segregate blacks in social and public life. Blacks were, as to say segregated from cradle to grave (from hospitals, schools, trains, restrooms, water, fountains, parks, dance halls, barbershops, penitentiaries, restaurants, theaters, asylums, and institutions for the blind and deaf, cemeteries [Mercer Beckett, 2003]). Initially blacks were intimidated to keep away from politics and using their votes but gradually a variety of bureaucratic and extra legal methods were used to disenfranchise the blacks. The legal and extra legal methods such as violence and intimidation to disenfranchise the African Americans was to ensure that blacks are not in a position to use their political strength to oppose the second class status assigned to them in the South [Mercer Beckett, 2003]. These discriminatory laws were called Jim Crow laws after a character in the then popular song and dance minstrel show. Dubois and Washingtons Approach to Black Rights Jim Crow laws were designed to destine the black Americans to a second class citizen status. Booker T Washington was faced with living and operating in the southern United States which had still not come to term with the equality of races. Washington realized that in order to improve the lot of his black countrymen he would need the support of white majority He knew that he would have to allay their fears regarding all claims of equality to seek their help to provide education and support for the black causes. W. E. B. Du Bois was settled in the much relaxed and liberal North. Du Bois wanted to see an America with social equality where individuals would be rewarded according to their merits [Bauerlein, 2004]. Washingtons Atlantas Compromise was effectively a surrender to the wishes of White racist America and Jim Crow laws and made Washington the favorite black leader of the white America who were happy to see him advocate their vision of blacks role in America. Conservative blacks who wanted to consolidate their position before demanding their rights found Washingtons approach pragmatic and supported him whole heartedly too. Du Bois on the other hand insisted that the black Americans had every right to be treated as equals, the right to vote and opportunities for the talented blacks (what he called Talented Tenth). He warned that if the blacks were not given their rights the white America will suffer too . DuBois Critiques Booker T. Washington Du Bois acknowledges Washingtons success as being the result of different interpretation of his Atlanta compromise, The radicals received it as a complete surrender of the demand for civil and political equality; the conservatives, as a generously conceived working basis for mutual understanding. So both approved it, and today its author is certainly the most distinguished Southerner since Jefferson Davis, and the one with the largest personal following [Dubois, 1903]. He recognizes Washingtons success and acknowledges that Washington has to work in difficult southern setting, In the South especially has he had to walk warily to avoid the harshest judgments, and naturally so, for he is dealing with the one subject of deepest sensitiveness to that section [Dubois, 1903]. Dubois criticizes Booker Washington for his approach and asking Black Americans to give up claims for political power, their insistence on civil rights and higher education for black youths. He argues that Washingtons advocacy of these critical matters resulted in black disenfranchisement, legal creation of civil inferiority of Black Americans and withdrawal of financial support from institutions of higher education for blacks [Dubois, 1903]. DuBois accuses Booker Washington of encouraging evil, It is wrong to encourage a man or a people in evil doing; it is wrong to aid and abet a national crime simply because it is unpopular not to do so[Dubois, 1903]. On one hand Booker Washington follows a eek approach and hopes that blacks will eventually prove themselves to be worthy of being treated as equals, On the other hand Duboiss arrogant attitude could only be expected to create additional obstacles in the obviously racist South of that period. Discussion and Conclusions I find that both leaders approaches were unsuitable to handle the Jim Crow laws. Washingtons approach was that of a pathetic submission to second class status for black Americans. Duboiss approach went to the other extreme alienating even the sympathetic whites from the cause of helping blacks achieve their rights. While, Washingtons submissive approach won him huge funds for his projects and a leadership role that was acknowledged right up to the White house. Dubois insistence on equality now and legal course to winning the black rights did restore the pride of black America. Thus the counterbalance of the two approaches reduced the possible harm that the two approaches would have done the cause of black America if they were applied without the influence of the other. Bibliography Bauerlein, M. , (2004), Washington, Du Bois, and the Black Future, the Wilson Quarterly, Volume: 28. Issue: 4, Page Number: 74+, Woodrow Wilson International Center for Scholars. Du Bois, W. E. B. , (1903), The Souls of Black Folk, Chicago Mercer, D. and Beckett E. , (2003), New Jersey AAH Curriculum Guide _ Unit 8: The Rise of Jim Crow and the Nadir, 1878-1915, New Jersey State Library. [Online] retrieved from Internet on May 06, 2007, http://www. njstatelib. org/NJ_Information/Digital_Collections/AAHCG/unit8. html Olson, J. , (2005), W. E. B. Du Bois and the Race Concept, Northern Arizona University, USA, http://www. yale. edu/polisci/info/conferences/W. E. B. %20DuBois/Papers/Olson-DuBoisRace-III. pdf Tell, B. , (1996). Separate yet One, Library of Congress Information Bulletin, [Online] retrieved from Internet on May 06, 2007, http://www. loc. gov/loc/lcib/9603/booker. html

Parental Pressure on Children Playing Organized Sports Essay -- Sports

These days, there is too much pressure on children who participate in organized sports because of the unnecessary parental involvement they experience. A growing concern amongst those involved in youth sports is that certain aspects of parental involvement become detrimental to the development and experiences of young athletes. Early emphasis on winning, making money, and the disruption of education can exceedingly affect ones desire to further participate in a sport later on in his/her life. With more and more children participating in some sort of organized sport than ever before, there is a constant concern regarding the pressures kids are brought into to excel. Emotionally over-involved parents often think that it is their responsibility to persuade, push, or support the children's fantasies or sporting objectives, even if the kids themselves do not share the same aspirations as his/her parents. Part of growing up is learning what interests you the most. It's how one becomes familiar with who they really are and what they enjoy doing in life. Unfortunately, for many young children, his/her parents seem to take his/her own lives into their own hands. Most parents want their kids to grow up to be "superstars", make it big after the college scenario, and perhaps go on to play professionally or succeed in the Olympics. We all know that there are the few that make it professionally, and having your parent paint a picture for you as you're barely going into grade scho ol is unethical. Yet for the unfortunate, these kids are helpless to the pressure that is put on them at such a young age. Take Todd Marinovich, for example. For the child's entire life he was exercised, fed, schooled, and drilled with his fathers' one g... ...iety now that is constantly changing over time. "It used to be that youth sports [were] the one haven for good sportsmanship," says Darrell Burnett, a clinical child psychologist and youth sports psychologist. "Not anymore. It's not just a game anymore." With technology (etc) distracting our children with violence and so on, we cannot afford to ruin what sports may do for them. With sports being just one of the few things left that can contribute to success in life, education, and health, parents need not to put any sort of unnecessary pressure on their kids at such a young age, or any age for that matter, ever. References Rowley, S. (1986). The role of the parent in youth sports. In G.R. Gleeson (Ed.), The Growing Child in Competitive Sport, (pp. 92-99). London: Hoddon and Stoughton. Lee, M. (1993). Coaching children in sport. New York: Routledge.

Civilize The Wilderness :: essays research papers

Civilize the Wilderness   Ã‚  Ã‚  Ã‚  Ã‚  Wilderness, why civilize it? This is an interesting question, and one that is hard to answer. Why not just leave the wilderness alone, and let it grow and decide it's own beginnings and ends? Does civilizing the wilderness make it better or worse? In what ways is it better or worse if we leave it alone or it we civilize it? These are all excellent questions and are all worthwhile to think about.   Ã‚  Ã‚  Ã‚  Ã‚  Western culture has tried to civilize the wilderness for quite sometime now, but is it really something we should be doing? In the point of view of many, the wilderness should be civilized to accommodate for the increasing number of people in the world. We should also civilize it because we need the extra room and because we cannot live in uncivilized areas of the wilderness, at least not with all of the comforts of home. What effects will civilizing the wilderness now have in the future? Many questions can arise when contemplating civilizing the wilderness.   Ã‚  Ã‚  Ã‚  Ã‚  The wilderness is being civilized for one main reason. That reason is technology. Technology plays an important role in everyone's lives today. Without it, we would not have computers, fax machines, cellular phones, and all of the modern conveniences that we have today. The fact is, that many people believe that the wilderness is like an unborn country. A country that has nothing and is striving to become more advanced. We see this as an opportunity to better it and make it seem like we are actually helping. But, are we really helping? In my opinion, no. I feel that we are destroying something natural and something of beauty.   Ã‚  Ã‚  Ã‚  Ã‚  In many ways we are making the wilderness worse by civilizing it. We put unnatural objects into the wilderness, and it destroys the wilderness' natural beauty. Thoreau's ideal is to pretty much leave the wilderness as it is. If you need to inhabit it, don't use anything that does not come from within it. For example, Thoreau built his cabin from the trees that were in the wilderness that surrounded it. In this way, civilizing the wilderness is okay. The way we are civilizing it, is not okay. Too just clear-cut an entire forest, then build a house, an in ground swimming pool, and put up a satellite dish, is not exactly ideal to keeping the wilderness natural.   Ã‚  Ã‚  Ã‚  Ã‚  To destroy the beauty of the wilderness by civilizing it in the way that

Drinking and Driving

The use of cellphone while driving Informative speech Specific purpose: to inform my audience about the risks that are involved while using their cellphone while driving and its penalties. Thesis: Using a cellphone while on the road could be risky. Organizational pattern: Topical order. INTRODUCTION: I. Attention Getter: ‘’Using a cellphone while driving, whether it is handheld or hands-free, delays drivers reactions as much as having blood alcohol concentration at the legal limit of 0. 8 percent. ’’ (University of Utah) II. Thesis: Driving while using a cellphone has its risks. III. Relevance: Why should you care?This topic relates to you because ‘’it is the number one cause of crashes for people within the ages 18-25. ’’ (University of Utah) IV. Credibility: I have conducted research for the past days. I have also had a personal experience. V. Brief review of main points: Today I will be talking about the use of cellphone while driving and the penalties this could have. TRANSITION: Let’s start by talking about what can happen if you use a cellphone while driving. BODY I. The use of cellphones while on the road. A. Distracts drivers, affects concentrations on the road. 1. ‘’In 2009, 5,474 people were killed in U. S. oadways and an estimated additional 448,000 were injured in motor vehicle crashes that were reported to have involved distracted driving. ’’ (FARS and GES) B. According to a research by the University of Utah, causes 33% of all call crashes. C. May cause injury, or even death. TRANSITION: Penalties of texting and driving. I. According to www. handsfreeinfo. com , many states implement new laws to stop cell phone use while driving with fines up to 120 dollars. You have done it, and I have done it. And even though we know these laws exist we have all continued to grab our cellphone once in a while while driving. II.Example of how five seconds without looking to th e road can affect you. III. What are the penalties for DUI in Texas? According to, http://dui. drivinglaws. org/texas. php , a first offense can cost you up to $2000 dollars; a third offense can reach up to the amount of $10,000 dollars. | 1st Offense| 2d offense | 3rd Offense| Minimum Jail| 3 to 180 days| 30 days to 1 year| 2 years| Fines and Penalties| Up to $2,000 (unless a child under 15 is in car)| Up to $4,000 (unless a child under 15 is in car)| Up to $10,000| License Suspension| 90 to 365 days| 180 days to 2 years| 180 days to 2 years| IID* Required| No| Yes| Yes|TRANSITION: As I conclude my speech, I would like my audience to reflect upon the effects that cell phone use while driving have on a person’s ability to drive are dangerous, not only to the driver, but to everyone around them. CONCLUSION: I. Thesis summary: Cellphone use while driving has its risks. II. Brief review of main points: I have talked to you about how many accidents can cell phone use cause, and a bout the consequences and penalties. III. Tie-back audience: An accident can not only happen to you, but to any of your loved ones. IV. Closure statement: Video: ‘’This is why cell phone use while driving should be illegal. ’’ (YouTube)

Martha Ballard Essays - Laurel Thatcher Ulrich, Womens History

Martha Ballard Essays - Laurel Thatcher Ulrich, Womens History Martha Ballard We as a society are fortunate. We have the luxury of advanced technology to include: computers, telephones, video teleconferencing equipment, cellular phones, beepers, and hospitals with the latest gadgets and gizmos. Our technology is available only because of documented historical accounts. Our idea of work is having to get in our vehicles and driving to our destination and sometimes sitting behind a desk all day to push paper; the worst any of us suffers is a traffic jam here or there or worse, a construction site. Imagine life in the late eighteenth century. People in this era had to deal with not only getting up at dawn to milk the cows, but toiling for hours on end with animals that refused to budge. Individuals in this era did not have the luxury of using the technological tools we have today. They could not pull out their cell phones if the mule decided to have a bad day or if they injured themselves on the job. Achieving prosperity was not easily done! during this century. The demands placed upon them, required that farmers and merchants work endlessly to provide for their families. Through our education, we have learned that farmers worked and played very hard. We are not however, taught in great detail the vital role a midwife played. Midwives had literally to be available at the drop of a hat to attend a birth. If she was not there, it could cause potential problems for the mother-to-be and the newborn. Martha Ballard, a woman that is not generally listed in history books, played a vital role in the latter part of the eighteenth century. She is a woman of great strength and character who goes above the call of duty in her chosen profession - that of a Midwife. Martha Ballard is a woman who has not only lived through the Revolution, but who has kept a diary detailing the gains and losses that we made in political, economic and social transformations during the eighteenth and early nineteenth centuries (Ulrich, 32)! . Mrs. Ballard's diary has been around for many years. Historians who know about the diary seldom know what to do with it (Ulrich, 8). Some feel that her diary is boring and filled with too many details of domestic chores and pastimes to be worthy of any great exploration (Baker, 14). "That Martha Ballard kept her diary is one small miracle; that her descendants saved it is another (Ulrich, 346)." This statement speaks volumes. How often have we come across documents our ancestors left behind and just threw them away? How often did we sit and examine those documents or analyze their meaning? Speculating on why Ballard kept the diary and why her family saved it, Ulrich highlights the documents' usefulness for historians (Mullaney, 102). Laurel Thatcher Ulrich, an Associate Professor of History (at the time of publication) at the University of New Hampshire in Durham, took the time to evaluate Martha Ballard's diary and connect the missing links in the role women played d! uring the early years of colonial America. Her ardent studies led her to believe that the diary was more than just the detailing of domestic duties it was describing a "lost substructure of eighteenth century life" - a decidedly female one (Baker, 14). Martha Ballard was more than a midwife. She was a historian, mortician, pharmacist, nurse, farmer, mother, and wife (Ulrich 40). Perhaps it was a sense of history or a craving for stability, perhaps only a practical need to keep birth records, that first motivated Martha to keep a diary. "Thee number of childn I have Extracted since I came to Kennebeck I find by written account & other Calculations to be 405," she wrote on December 31, 1791. (Ulrich,20) Martha was fifty years old when she began documenting her experiences crossing the Kennebec River and events of that era. She moved to this area at the tender of age nineteen when she married the loyal Tory and surveyor, Ephraim Ballard. She shows us a history of the female economy and how women were regarded. When reading diaries, one expects to find statements about the people the author meets, not in Martha's

Free Essays on Greenman

The advertisement I chose to examine is, in my opinion, a prime example of an effective and successful ad. This ad, which appeared in a recent Sports Illustrated, shows a pile of M&M’s candy on a wooden table. But what made this ad immediately grab my attention was the word â€Å"SEXY† spelled out in the green M&M’s, almost in a subliminal way. Above the pile of M&M’s, the question: â€Å"What is it about the green ones?,† is seen, also printed in green. There are several reasons why I think this ad is effective. Bright colors are seen throughout the ad. The combination of such bright colors is what originally made me take a closer look. When I realized that I was looking at M&M’s candy, I thought about how tasty the chocolate candy looked. I wanted to run to Circle K and buy a bag. Then I noticed the green M&M’s appeared to be spelling something out, within the larger pile. I peered closer and saw that â€Å"SEXY† was written with the green M&M’s. Then, as I looked to the top of the page and saw â€Å"What is it about the green ones?,† I laughed to myself and immediately chose to write about this advertisement because of its creativity and uniqueness. The use of bright colors, the tasty appearance of the candy, and the humorous, â€Å"subliminal† message, helped make this advertisement appeal to me. I also think many others could appreciate this advertisement and feel that this is a good example of a successful ad.... Free Essays on Greenman Free Essays on Greenman The advertisement I chose to examine is, in my opinion, a prime example of an effective and successful ad. This ad, which appeared in a recent Sports Illustrated, shows a pile of M&M’s candy on a wooden table. But what made this ad immediately grab my attention was the word â€Å"SEXY† spelled out in the green M&M’s, almost in a subliminal way. Above the pile of M&M’s, the question: â€Å"What is it about the green ones?,† is seen, also printed in green. There are several reasons why I think this ad is effective. Bright colors are seen throughout the ad. The combination of such bright colors is what originally made me take a closer look. When I realized that I was looking at M&M’s candy, I thought about how tasty the chocolate candy looked. I wanted to run to Circle K and buy a bag. Then I noticed the green M&M’s appeared to be spelling something out, within the larger pile. I peered closer and saw that â€Å"SEXY† was written with the green M&M’s. Then, as I looked to the top of the page and saw â€Å"What is it about the green ones?,† I laughed to myself and immediately chose to write about this advertisement because of its creativity and uniqueness. The use of bright colors, the tasty appearance of the candy, and the humorous, â€Å"subliminal† message, helped make this advertisement appeal to me. I also think many others could appreciate this advertisement and feel that this is a good example of a successful ad....

The Best IB Economics Notes and Study Guide for SL

The Best IB Economics Notes and Study Guide for SL/HL SAT / ACT Prep Online Guides and Tips Are you taking IB Economics but feel you aren't learning enough from your class alone? Maybe you need more explanation of certain economics topics? If you need some help in your IB Economics SL/HL class, this study guide is for you. I’ve gathered all of the best free IB Economics study guides and notes into one useful article. This IB Economics study guide is organized according to the IB Economics Syllabus. How to Use TheseIB Economics Notes and Study Guide If you are looking for help with one topic, use the Command + F function on your keyboard to search this article for that topic. For instance, if you want to learn more about Markets, use Command + F to bring up the search function. Type in â€Å"Markets† and it’ll bring up all of the study materials for Markets. I separated the resources into: Quick reference: one-page summary of material if you just need a quick refresher. Longer notes: notes (generally 3-10 pages) if you need more of an in-depth explanation. How Should You Use This Article During the School Year? If there are any subjects that you feel youdon'tcompletely understand after learning them in class, use these notes to review them and fill any knowledge gaps. You should also use these notes to regulary review past topics you covered in class to be sure you don't forget earlier topics and have to cram right before the exam. To score well on the IB Economics exam, you should be studying and reviewing the topics you cover in class throughout the year. This will help you cement this information in your mind so you're not struggling for answers on test days. In addition to these notes, you should also take several practice tests. This will help you test your knowledge and get a better idea of how well you'll score on test day.FindIB Economics HL and IB Economics SL past papers, Free and Official, in our other article. Common Study Mistakes for IB Economics SL/HL It's important to avoid falling behind in IB Economics SL/HL; there's just too much material to learn easily if you get significantly behind. You need to master the topics during the school year to ace your IB Economics papers. Some common mistakes are: Avoiding topics you don’t understand in class. If you didn’t learn it in class, you need to look for help elsewhere whether through this IB Economics study guide or tutoring. Waiting to study until a week or two before the papers. There are a lot of concepts to master. A week or two is not enough time to learn them all (that is why IB Economics is taught over 1 to 2 years). Learn the topics as you’re supposed to learn them in class. Use this study guide if you need extra help. Want to get better grades and test scores? We can help. PrepScholar Tutors is the world's best tutoring service. We combine world-class expert tutors with our proprietary teaching techniques. Our students have gotten A's on thousands of classes, perfect 5's on AP tests, and ludicrously high SAT Subject Test scores. Whether you need help with science, math, English, social science, or more, we've got you covered. Get better grades today with PrepScholar Tutors. Section 1: Microeconomics Longer notes: Basic Definitions Longer notes: PPF and PPC Longer notes: Free Market vs. Planned Economy 1.1 Competitive markets: demand and supply (some topics HL only) Quick reference: Markets Longer notes: Markets Quick reference: Demand Quick reference: Supply Quick reference: Market equilibrium Quick reference: The role of the price mechanism Quick reference: Market efficiency 1.2 Elasticity Longer notes: Elasticities Quick reference: Price elasticity of demand (PED) Quick reference: Cross price elasticity of demand (XED) Quick reference: Income elasticity of demand (YED) Quick reference: Price elasticity of supply (PES) 1.3 Government intervention (some topics HL extension, plus one topic HL only) Quick reference: Indirect taxes Quick reference: Subsidies Quick reference: Price controls 1.4 Market failure (some topics HL only) Longer notes: Market Failure Quick reference: The meaning of market failure Quick reference: Types of market failure 1.5 Theory of the firm and market structures (HL only) Longer notes: Theory of the Firm (HL) Section 2: Macroeconomics Longer notes: Measuring National Income Longer notes: Introduction to Development Longer notes: Unemployment and Inflation Longer notes: Distribution of Income 2.1 The level of overall economic activity (one topic HL extension) 2.2 Aggregate demand and aggregate supply (one topic HL only) 2.3 Macroeconomic objectives (some topics HL extension, plus one topic HL only) Longer notes: Macroeconomic Models 2.4 Fiscal policy 2.5 Monetary policy 2.6 Supply-side policies Quick reference: Evaluation of supply-side policies Longer notes: Demand-side and Supply-side policies Section 3: International Economics 3.1 International trade (one topic HL extension, plus one topic HL only) Longer notes: Reasons for trade Longer notes: Free trade and protectionism Longer notes: World Trade Organization (WTO) 3.2 Exchange rates (some topics HL extension) Longer notes: Exchange rates 3.3 The balance of payments (one topic HL extension, plus some topics HL only) Longer notes: Balance of payments Longer notes: Balance of Payment problems 3.4 Economic integration (one topic HL extension) Longer notes: Economic integration 3.5 Terms of trade (HL only) Longer notes: Terms of trade Section 4: Development Economics 4.1 Economic development 4.2 Measuring development 4.3 The role of domestic factors 4.4 The role of international trade (one topic HL extension) 4.5 The role of foreign direct investment (FDI) 4.6 The roles of foreign aid and multilateral development assistance 4.7 The role of international debt 4.8 The balance between markets and intervention Longer notes: Sources of Economic Growth and/or Development Longer notes: Consequences of Growth Longer notes: Barriers to Economic Growth Longer notes: Growth and Development Strategies Longer notes: Evaluation of Growth and Development Strategies What’s Next? Learn more about IB Economics: Want some more IB Economics study materials?Check out our guide to every IB Economics past paper available, including free and official papers. Looking for more info on what IB Economics covers?Read our complete guide to the IB Economics syllabus to learn every topic that will be covered in the course. Wondering which other IB classes you can take?Take a look at the complete list of IB courses to see what your options are. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

On the Origins of Violence (SLP) Module 1 Essay Example | Topics and Well Written Essays - 500 words

On the Origins of Violence (SLP) Module 1 - Essay Example nts such as bars, stores, hotels, movie theatres, museums, art galleries, sport venues, parks, and trails, the area is most under constant security patrols making criminal activity very minimal considering other states or nationwide. The population of the area is 20,774 for males and 23,053 for females based on 2010 population update. With reference to income per household, North Bethesda has a household income of $94,334 compared to the $70,004. Both of these household incomes place the residents as middle class earners with very minimal financial constraints. The national violent crime index is 387, the County of Maryland crime rate is 477, and that of North Bethesda is 204. Further information shows that there is 1 out 61 chances of a North Bethesda resident falling a victim of any type of crime. With this low crime rate, the relationship between violence and the health and/or welfare of the community is almost none existent. However, the fact that Maryland has a higher violent cr ime rate puts the residents of North Bethesda at risk of falling victims when outside their residential vicinity. However, having no confirmed cases so far, the health and welfare of the community is not under direct connection of violent crimes. The total population of North Bethesda is 43,828 as of 2012 and with a population growth rate of 18.11%. The cost of housing in the area is $335,900 for buyers and $1,686 for rentals. However, the living cost of North Bethesda is about 140% compared to the rest of the nation. When compared to Maryland’s crime rate index, North Bethesda has 48% less crime while Maryland is at the same crime rate index as the national index. A quick check of other data shows that North Bethesda is 51.3% safer than other cities within the nations, 67% safer than Maryland, one has 1 chance of being a violent crime victim in every 490 times, and property crime is about 1 chance for every 69 for a North Bethesda. The available resource in North Bethesda used for

The Dynamic Geography of Global Work Essay Example | Topics and Well Written Essays - 500 words - 1

The Dynamic Geography of Global Work - Essay Example Cost of production encompasses other factors such as cost of labor, raw materials, and overhead costs. The second broad category of factors is the market. Initially, Apple manufactured most of its products in America. Today, the company manufactures most of its products overseas. Steve Jobs clarified to President Obama that jobs were not going back to US. The case clearly reveals the changing geography of business. It justifies that claim that America has changed from provision of goods to provision of services (Thier, 2012). Whereas about 10% of Americans work in manufacturing in industries, the rest work in service industries such as Walmart. Successful global operations of Apple have made be among the best companies in the world that people admire. Apple maintained that the shift to overseas the only option. Business organizations would opt to set their manufacturing firms in areas that minimize costs of production. China and India are the latest targets for American industries. Costs and accessibility of raw materials play critical roles in determining the final cost of a product (Garside, 2013). As a result, Apple could be operating in China because of availability of raw materials at a considerably low cost. In addition, cost of labor also matters. China could be having ready man power for the Apple industry. Steve Jobs explained that cheap labor could not be the only reason for the shift of Apple to China. He cited economies of scale in manufacturing facilities and human resources as the some of the reasons for the decision. It takes many months to mobilize contractual engineers and takes a short time to do that in China (Thier, 2012). Apples Executives also highlighted that it takes a lot of tine to construct manufacturing units in America. An individual only needs 15 days to construct a new production line to accommodate a new design. Despite the fact that iphones are made

Life in Vietnam Research Paper Example | Topics and Well Written Essays - 1250 words

Life in Vietnam - Research Paper Example Nevertheless, U.S gradually began to pull out its forces in 1969 when the war seemed continuous (Oraclethinkquest, n.d). Further, it states that Vietnamese fought France for control over Vietnam during the first stages of war. At this time, French were the colony of Vietnam. Vietnamese won and that is why there was north and South Vietnam. Harry S Truman had a strategy that the united state must aid any state susceptible by communists. The next three president of the US adopted Truman’s policy and they thought that if one of the southeast states surrendered to the communist, they would all fall one after another. In April 1967, Martin Luther King condemned American for taking part in the Vietnam War, the liberals’ war. Vietnam War had already and would go on to intersect with the forceful political and social era movements. However, the New York king sermon which was more striking and clearly developed the customs in which civil rights, issues in Vietnam, class at home, race, and the inadequacy and guarantee of liberalism were structured than other episodes in the 1960s (Buzzanco, 1999). The king was very sure that there was a connection between the US war in Vietnam and the fight against poverty at home and struggle for civil right. Vietnam’s government was displaying insincerity in racial matters, as African-Americans and other minorities in the early years of war were dying in extremely high percentage though only small proportion of the population was accounted for. This was the time when the United states begun sending solders and resources into Southeast Asia. The king wa tched the military commit equality and domestic justice. Vietnam generated the biggest mass remonstration movement in the US history. The war forestalled civil right growth and anti-poverty and radicalized movements related with those issues; uncovered the restrictions of liberal reform; helped bring other movements into existence, like liberation of women or the

Expected effects of the 2022 Fifa World Cup on Qatars economy Term Paper

Expected effects of the 2022 Fifa World Cup on Qatars economy - Term Paper Example This will strengthen Qatar’s national economy which shows a striking and buoyant performance amid slothful global conditions. In 2010, Qatar registered a Gross Domestic Product (GDP) of 14.0 %. The country projected that in 2011 the GDP would hit a 15.8 % mark. This steady growth in GDP presents Qatar as the fastest in economic growth among GCC region (Qatar First Investment Bank 4). Qatar is expected to benefit a lot from tourists’ activities. The estimate of the visitors in Qatar amounts to about half million people. This is largest number of tourism representing about a third of Qatar’s population. Due to this large numbers of tourists, Qatar intends to construct 90,000 hotels and restaurants. This surpasses FIFA’s requirement for Qatar to have 65,000 hotel rooms (Oxford Business Group 281). The country expects to receive many foreign funds from the visitors which will boost the growth of well performing economy. According to neoclassical growth theory, the explosion of population will lead to high Gross Domestic Product (Barclay 66). Doha has already witnessed 65% of total visitors that come from corporate sector. The overnight stays are expected to generate a lot of revenues for Qatar. Tourism industry anticipates raising the occupancy rates in order to capitalize on the FIFA World Cup. The basis of this expectation is from 2011 when hosted AFC Asian Cup. The large number f fans increased the rate of hotels to about 24 %. This was a remarkable rise when compared to the year 2010 (Oxford Business Group 285). The retailers expect to amass a lot of money from the sales. This is due to increased domestic and foreign consumption Qatar will refurbish her infrastructure to meet the FIFA standards. The country plans to use 100 billion US dollars to expand and construct new system of infrastructure. Some of expected infrastructural changes will feature stadiums, roads, communication systems, airports, and places of accommodation. Doha airport is under

Global Warming (human beings are responsible) Term Paper

Global Warming (human beings are responsible) - Term Paper Example The sun’s warmth is trapped in the atmosphere due to the continuous air pollution that ensures there is a blanket, which prevents the warmth from escaping from the atmosphere. The main purpose of this essay is to prove that humans are the main cause of global warming because of their continuous activities that pollute the environment. The essay will thus prove that the earlier assumption that the sun is responsible for global warming is a vague assumption. This is because there are no evidences unlike the many evidences on the human activities. The assumption that the sun is the main cause of global warming has been used for years by some people due to the historical changes of the earth’s climate. For the past 650,000 years, the earth has experienced about seven cycles of glacial advance and retreat, which has affected the climate. In the last 7,000 years climate has been changing in unusual way and this has been attributed to the small variations of the earth’s orbit change that has increased the amount of solar energy received by the earth (Rosser, 249). People have assumed that the increment of solar energy is the main perpetuator of global warming forgetting that the sunrays are radiated away from the earth after hitting the earth’s surface. Then, the heat escapes the atmosphere into space. This radiation ensured that temperatures are regulated by the nature. Human civilization has led to humans venturing in activities that produce carbon dioxide and other gases that act as blankets preventing the solar energy and warmth from leaving the earth’s atmosphere. The continuous trapping increased solar energy in the atmosphere is the main cause of global warming (Rosser, 256). Since mid-20th century, the climate has changed drastically. This shows that the industrial revolution that began at this time is responsible for the climatic changes that were experienced. Industrialization has hit new levels and there have been more fossil fuels burned

Expected effects of the 2022 Fifa World Cup on Qatars economy Term Paper

Expected effects of the 2022 Fifa World Cup on Qatars economy - Term Paper Example This will strengthen Qatar’s national economy which shows a striking and buoyant performance amid slothful global conditions. In 2010, Qatar registered a Gross Domestic Product (GDP) of 14.0 %. The country projected that in 2011 the GDP would hit a 15.8 % mark. This steady growth in GDP presents Qatar as the fastest in economic growth among GCC region (Qatar First Investment Bank 4). Qatar is expected to benefit a lot from tourists’ activities. The estimate of the visitors in Qatar amounts to about half million people. This is largest number of tourism representing about a third of Qatar’s population. Due to this large numbers of tourists, Qatar intends to construct 90,000 hotels and restaurants. This surpasses FIFA’s requirement for Qatar to have 65,000 hotel rooms (Oxford Business Group 281). The country expects to receive many foreign funds from the visitors which will boost the growth of well performing economy. According to neoclassical growth theory, the explosion of population will lead to high Gross Domestic Product (Barclay 66). Doha has already witnessed 65% of total visitors that come from corporate sector. The overnight stays are expected to generate a lot of revenues for Qatar. Tourism industry anticipates raising the occupancy rates in order to capitalize on the FIFA World Cup. The basis of this expectation is from 2011 when hosted AFC Asian Cup. The large number f fans increased the rate of hotels to about 24 %. This was a remarkable rise when compared to the year 2010 (Oxford Business Group 285). The retailers expect to amass a lot of money from the sales. This is due to increased domestic and foreign consumption Qatar will refurbish her infrastructure to meet the FIFA standards. The country plans to use 100 billion US dollars to expand and construct new system of infrastructure. Some of expected infrastructural changes will feature stadiums, roads, communication systems, airports, and places of accommodation. Doha airport is under

Poetry assigment Essay Example | Topics and Well Written Essays - 750 words

Poetry assigment - Essay Example A disagreement between his father and his older brother led to the sale of the family business and the suicide of his brother. Not long after, his father succumbed to cancer, leaving the young fifteen year old in charge of his family. The fact that these events caused Roethke to look at his father with ambivalence seems to be reflected in the poem, as its tone is a strange mixture of the affectionate love of a little boy and a slightly more suspicious and adult distrust and betrayal. The very first impression of the poem is one of a joyous frolic around the house and the happiness of the young boy at this special moment with his father comes out very clearly, especially in the beginning of the second stanza; "We romped until the pans slid from the kitchen shelf" and at the last stanza where he describes his father keeping time on his head as he danced him off to tuck him into bed. That the memories are very personal stands out in the details of the poem; he describes the whiskey on his father's breath, the fact that his father's hands had dirt still on them. Since his father worked in a greenhouse, these details are no doubt drawn from his memories and show his father as the slightly rough, honest hard worker he was. It is clear that this memory is a happy one for him and is also reminiscent of my own dances with my father. However, the later experiences also colour this memory. It is not the unadulterated memory of a child. Certain words and phrases jar a bit with the pleasant nature of this picture. When he describes hanging to his father "like death" it is a little out of place. However given that his brother committed suicide after a fight with their father it seems plausible that Roethke might have held his father responsible for the death and as he matured into adulthood inappropriately early following his father's death he might also have felt resentment towards his father for leaving him with such a burden. These undercurrents of adult feeling do mar the perfect picture of an otherwise normal and happy episode. However, the fact that he describes this episode with such feeling and vividness also emphasizes the fact that he did indeed love his father when he was a child, and it also has a touch of longing and loss in its tone. It seems to imply that he misses those small moments of intimacy with his father, and knows they will never come again. It is for this reason that I connect with the poem so much, as I myself lost my father three years ago when I moved to new York, leaving him in Taiwan. I shared many moments like this with my father and these memories are tinged with the knowledge that I can never have them again. There is also a resentment that they finished too early in life. He was thrust into an adult world too early and therefore this memory is even more special as it will never come again, and perhaps did not happen enough when he was a child. This emotion and memory perhaps has more meaning for me as I too used to have these moments with my father, before he passed away. The happiness of the memory is tinged with regret for its loss. There is an undertone of near-violence also in this poem, in the description of the father's knuckles, and death. Though there appears to be a school of thought that thinks this represents an abusive father ( Ref;Byrne) and cite the fact

Quantitative research Essay Example for Free

Quantitative research Essay Isaac and Michael described quantitative research as allowing the researcher to formulate research questions or hypotheses and then to test each under controlled conditions. They decided its greatest merit is the convincing nature of hard data collected that can speak for itself (1974, 354-355). PROCEDURES To conduct this study, the following actions will be taken regarding each of the objectives: First objective: To identify and report the desired behaviors required for future Christian education leaders. 1. The literature of the field will be reviewed in the following areas: (a) Biblical context, (b) Church History, and (c) contemporary ministry. 2. The findings of the literature will be reported in chapter 2. Second objective: To validate the behaviors identified in the literature review. In order for the inventory of behaviors to be comprehensive, Flanagan stated that it is necessary to obtain a sufficiently representative sample (1949, 343). a) The degree of mutuality existing among the behaviors reported will be identified with respect to the different clusters. b) The number of behaviors will continue to be reduced by combining similar behaviors and writing new descriptions without regard for specific categories. c) The final inventory of administrative behaviors will be produced by the researcher. 2. The findings of the inventory of behaviors will be reported in chapter 3. Third objective: To make appropriate recommendations on the selection and training of future education administrators. 1. The study, including the findings of objectives 1 and 2 will be reviewed and summarized. 2. Appropriate conclusions will be drawn. 3. Specific recommendation which emerge from the study will be made, including suggestions for utilization of the competency areas recommended by the study, and suggestions for further research. 4. The summary, conclusions, and recommendation including check list will be reported in chapter 4. ORGANIZATION OF THE STUDY The study will be organized into four chapters in accordance with the Action Research, as table 1 displays. TABLE 1 Organization of the study based on action research Action Research Steps Chapters 1 2 3 4 Planning/Conceptualization X Fact Finding X X X Evaluation X Chapter 1 has stated the problem and purpose, explained the importance of the study, and stated the method. Chapter 2 will survey the literature to identify and report behaviors required to effectively analyze the characteristics of the church leaders, church members and surrounding neighborhood. Chapter 3 will report the validated behaviors for the role of the church. Chapter 4 will review and summarized the study, offer appropriate conclusion and discuss recommendations for change and future study. CHAPTER 2 CHARACTERISTICS We expect every church planter either black or white to be a good leader. Everyone else who knows about leader and his ministry, even including his group people expect it too. This is truly right no matter who a church planter is, may be any man or woman, may be a minister having both in church and outside of the church jobs. He may be a permanent pastor. Every church planter must enquire about his personality by self-questioning in such a personal way so that obtaining answers can help him to be sure about his decision and can help him to find out his true calling these answer can also help planter to know his future as a leader of his group. Our own understanding taught us about good leaders and leadership which we learned by working with different leaders. These leaders are the ones that people have known, read or watched about them. A successful leader has four elements including organization second program third morale and forth leadership. The greatest of four is leadership. Although morale is condition of mind and character that shows the person is brave. It also includes ability to do things with full trust on your self. The organizational element is based on morale followers; program of a church goes where the leadership goes. People have studied different kinds of leaders in secular history and in the Bible. The Lord Jesus Christ is their example as a true leader in Christian service. In the Bible God chose many people as leaders in His work for example Abraham, Noah, Nehemiah, Joseph, Paul and Daniel. Whenever the God leads anyone to think, about going into the Christian ministry he must look for a person who could demonstrate Him, what His person really used to be. A question also rises of what does God require of that person as His leader? And what it takes to be a good leader? The needed qualities of a Christian leader or a church planter should be as the Joseph had he even became a picture or copy of Jesus Christ. Josephs acts and character were good qualities for a church leader any church leader with these characteristics will definitely have success. â€Å"It is vital that counselors who collaborate with African American congregations understand that titles and the values assigned to them can be very important in the Black church and within many African American families. Counselors who do not use the formal titles of ministers, church leaders, older church members, and members who have earned doctoral degrees run the risk of hampered rapport. † (2005, 147) The God selected some of His people to be prophets, apostles, pastors, missionaries, and teachers, so that His people would be taught to serve and would become strong. This will carry on until we are united on accepting the Son of God by our faith. All the church has realized the need for leadership; they spend a big part of their life with the life of the church. People often think about the job of church leaders without attempting to connect their roles to the nature and purpose of the church. It means that church leaders become functionaries rather than ministers and become organization maintainers rather than church mission leader. But true black church leader as a person is that who uses his gifts to facilitate others in ministry, and then making suggestions and observations for implications to church.

Importance of CSR for companies in Mauritius

Importance of CSR for companies in Mauritius CSR has been subject to much analysis for different types of businesses who were controlled and managed by futurist and modern managers who were here to provide a new dimension in the business era. It is a concept where managers or leaders of certain firms decide to contribute voluntarily for a better social environment. Companies provide us with these because they have they need to contribute back for the land that they use. The other reason is that it is purely voluntary, and they provide us with such services without expecting anything in return. May researches have come with various definitions of CSR, but however, they all posses the following characteristics in common: Business commitment to try to add value and a better way of living for the whole society. Making society benefit from it Protecting nature and our environment Vyarkarnam also found out during his study that CSR dealt with these following areas: environmental problems, charities and donation, Investment in activities. Corporate Social Responsibility is a process that companies apply to bring benefits to the society. The latter has legal, commercial, ethical and public expectations from business activity. CSR is implemented in a way such that it meets the needs and in some instances, exceeds the expectations. The equivalent testimony gave some evidence of the diverse School of thoughts which interpret CSR differently worldwide. Definition of CSR from Ghana is CSR is about capacity building for sustainable livelihoods. It respects cultural differences and finds the business opportunities in building the skills of employees, the community and the government,  however Philippians CSR is about business giving back to society.   Theoretical Rationale behind Corporate Social Responsibility 2.1 The Social Contract Theory The Social Contract Theory hypothesizes that the cornerstone of morality are uniform social accords that best serve the interests of those who make the agreements. (A.K.H. Khor) This means that if the social contract between the business and the community is breached, there will be conflict leading to a revocation of the contract and the firm then risks sanctions imposed by the individuals of the society. For example demand may be reduced, legal restrictions may be imposed, and also denial of human and financial resources. 2.2 The Legitimacy Theory It is said that the Legitimacy Theory and the Social Contract Theory are inter connected. To be viewed as being socially responsible, investors do not hesitate to pay a premium for corporate behaviour (Pava and Krauze, 1996; Toms, 2000). This is so because it ensures the continual inflow of capital, labour and customers needed for viability. This proves the importance of CSR The confidence of corporate stakeholders suffered a serious blow, undermining their faith in the accounting profession, following the revelation of the corporate scandals at WorldCom and Enron. Thus a call has been made for more transparent reporting and the Legitimacy theory arose and implied the above social contract. 2.3 The political Economy Theory This theory is quite a recent one, and it gives us a good approach on how to explain CSR. That is, this theory states that economics and politics cannot be separated. The mission and long term objective of the firm should coincide with that of the government. Hence, it is obvious that firms engage in CSR by taking into consideration its employees, the society and other stakeholders affected by its activities. Thus, this approach gives us a good idea as to why firms engage in these activities. 2.4 The stakeholder theory According to Milton Friedman, the main objective of an organisation in the past was profit making and maximization. That is, firms were established only in the view of making profit, ignoring the harmful effect that they might be doing to the society at large. At these times, there were no firms engaging in CSR activities. The stakeholder theory is a theory of organizational management that tries to address different topics in business, such as, morals and values in management. This theory was originally put forward by Edward Freeman. According to him, a business does not only involve the owner, management and workers of the company. It involves the society at large, that is, the government, political groups, communities and even competitors. Freeman stated that when doing business, it was immoral just to reward the workers and owners of the business. Instead, it should be rewarding the whole society at large, and hence, coming forward with CSR activities. The stakeholder Theory attempts to justify the provision of social information in an attempt to gain stakeholder support and thus minimize the costs of dealing with complaints and actions that might otherwise affect them. (Davis, 2003) We can categorize the stakeholders of the companys: Shareholders; Employees; Suppliers; Customers; Government; Trade unions; Business associates; local community and Even competitors. Ullmann (1985) suggested a model based on the stakeholder theory according to which, if stakeholders control the essential resources it is ultimate for business to responds positively to the demands of the former. As an empirical accountability, the organisations identify its stakeholders. This is supported by by referring to the extent of which the organisation believes in the interplay with each group needs to be managed in order to further the interest of the organisation, the more important the stakeholder to the organisation, the more effort will be extended in managing the relationship. The impact of CSR on the decision making of stakeholders of a business. Shareholders. RARE researches brought, a company indulge in Corporate social Responsibility efforts can strengthen the voice of shareholders in sustainability matters. On a better information basis, they can assess their companys sustainability performance and assert their rights to promote more corporate responsibility (Shareholder activisms). Shareholders look for confidence and hope in a company. Therefore guided by their ethical principles, many investors choose firms taking into consideration the social and environment issues. In the study of Epstein and freedman, investors reduce the uncertainty about the value of their investment through reducing their environmental risks and the firms product safety and quality among others. Employees The literature of management science regard the relationship of management-employee as an essential one, employees are one of the key stakeholders for any business and evidence is growing of the importance of employees attached to the companies demonstrating their CSR records through progressive employment practice as well as through their behavior as good corporate citizens to know about the working conditions and sustainability job hunters make use of the annual report. Companies promoting the social responsibility provide such information through CSR disclosure. Crowther says that employees are search to work for companies that reflect and embody their values and who are as concerned about principles as they are with profits. In search of job security, CSR disclosure is helpful to employees. suppliers For suppliers, CSR such as fair trade practices hold the potential that the buying company grants preferential purchasing conditions, frequently to stabilize the exchange relation and gain legitimacy as well as customers (RARE research project). Thus it can be deduce that suppliers also use CSR to some extent to establish good commercial relationship. Customers Through CSR activities like reporting companies provide more (non-financial) information to customers who can then take better informed decisions on purchasing or rejecting the companys product (voice; cf. Rrubik et al. 2000) A fresh event marked by The oil spill in the gulf provoked a total chaos leading to BP customers rejecting BPs products worldwide. Local Community According to Glautier and Underdown (1994), local communities are very dependent on local industries, not only because they provide employment, but also because they directly affect the entire socio-economic structure of the environment. Industrial activities have always both positive and negative impact on the community at large. CSR disclosure is useful to the community in the sense that they may identify the companies with the good companies-public relationship. As such, the local community has an interest in the activities of the local industries, and requires much more information on social benefits and cost than the public relations-type information. government The government use CSR disclosure as a tool to set norms and assess a companys environmental concern. CSR may constitute a framework for cooperative governance where the traditional means of the state fail: public private (or trilateral) cooperations might make accessible information, innovation, and legitimacy potentials that allow the tackling of sustainability problems more effectively. Wolff (2004). 4.0 Why do companies indulge in CSR activities? It can be seen, especially after big international crisis, which businesses need to reflect on how to improve the image of their company. Milton Friedman argued it is the head of firms, that is, executives that have the responsibility towards society and other stakeholders. Friedman says that if actions that have been done result in a decrease in the return of shareholders, an increase in the price for consumers or result in a decrease in the wages of employees, customers and shareholders are spending money for the corporate social responsibility issues. Like said by smith in The Wealth of the nations (1776), It is not from the benevolence of the baker, the brewer and the butcher , that we get our meal, but from their regard to their own best interest is in line with what Friedman says in his book , Capitalism and Freedom where he refer to social responsibility in firms as a fundamentally subversive doctrine in society nowadays where businesses main aim is to make maximum profits by using recourses effectively. Therefore as said by Friedman, a businesss duty is to make as much profits as it is legally possible. In his paper, the author titled Morality in the Marketplace, Robert Almeder questions whether corporate behavior should be restricted by moral or illegal considerations. In the paper, the author takes the example of general motors and firestone that knowingly made the promotion of a defective product even though they knew that it would reduce their market share. He also talk about the lack of morality of advertising companies that promote the consumption of cigarettes knowing that this is prone to attract more smokers and therefore will increase the number of people who might get lung cancer and many other disease. According to him, to make businesses act more responsibly , authorities should come up with a laws such that corporate managers should effectively put CSR in practice , at their own expense rather than censured and fines a sum from corporate profits. (Almeder, R et al (1983) (eds) Business Ethics: Corporate values and society) The form of corporate social responsibility most commonly found in businesses are them taking care of the environment around them. Environmental issues are an inescapable part of planning business strategies for the foreseeable future and boards of directors who ignore this, do so at their own peril. 5.0 Is it relevant and worthwhile for companies to report on CSR issues? It is important for a business to communicate properly its financial position and equally its plans and actions concerning the social responsibility so as to maintain the good relationship of existing stakeholders and attract potential investors. According to Roger Adams, ACCAs executive director, it is becoming more and more pressing and urgent for companies to indulge in CSR if they want to enhance their corporate reputation, thus supporting the above statement. He also said that global investors increasingly regard good environmental management as an integral element of overall governance and accountability. Moreover in an analysis on Post-Eron: Post-Andersen, Roger Adams proceeds to say that Pressure is mounting foe companies to widen the scope of corporate public accountability and many are responding by including social data in their reports, preferably through a well managed process of stakeholder dialogue. (Accounting Business, July/August 2002) Based on Roger Adams statements, it is clear that globally CSR has rooted its importance in the world of business and helps in corporate sustainability and success showing its relevance and worthiness. Lack of ethical standards and social responsibility has lead to corporate collapse in various parts of the world recently leaving scar on the global economy. Howard Davies put forward that event in the US for the past years demonstrate that a breakdown in of ethical standards within a firm can carry high reputational and financial penalties. (Accounting Business, February 2003) Stakeholders are required to portray a good governance of an organisation, its transparency and proper accountability to access organizations worthiness. In Rachel Jacksons (ACCAs head of social and environmental issues) words: the increased influence of non governmental organisations NGOs) and the demand by the stakeholders for greater transparency, organizational accountability and good governance were key drivers for CSR. Accounting Business, June 2004). Moreover she adds that some potential advantages that can be derived by business practicing transparency and accountability can be: enhancement of business reputation, improvement of investor relations and access to capital, increase in competitiveness and market positioning. Other factors that push companies to be socially responsible are: Economic rationality considerations, To comply with borrowing requirements, To benefit from lower resource use and operation cost, And to improve competitive advantage and global exposure. 6.0 Empirical evidence of CSR. 6.1 The usefulness and relevance of CSR disclosure. Empirical studies effected by Belkaoui (1980) and Milne (1999), and Hendricks (1976) proved that CSR disclosure is useful and relevant. However results obtained were in favor of both positive and negative impact on investment decision. Hai Yap Teah and Godwin Y Shiu also carried out an empirical study which revealed that social responsibility disclosure in company annual reports may be more helpful in decision making if the data is presented numerically that focus on product improvement and fair business practices. Hence, we can deduce that for CSR disclosure to be deemed relevant and useful, it should speak the language of figures. Formbrun and Shanky put forward some empirical evidence which suggest that the greater a companys contribution to social welfare is; the better the goodwill becomes. Hereby they may benefit from premium prices, enhance their access to capital market and attract investors. Hence it supports the school of thought advanced earlier by other research work extending the impact of CSR on investment decision. According to Mc Gaire et al (1988) a firm that is perceived to be acting responsibly will face less labor unrest and will gain kudos in the eyes if its potential customers, increasing its sales base. Nevertheless, the other side of the coin refers to the fact that it s not necessary that CSR disclosure directly improves the profitability for mixed results obtained. 6.2 CSR Framework as developed by ERNSTERNST (1978) Six areas have been found by Ernst and Ernst (1978), in which corporate social objectives may be set. They are: Environment Fair business practices Human recourses Community involvement Energy Products 6.3 Code of Corporate Governance However in section 7 of The Code of Corporate Governance for Mauritius , that is , the Integrated Sustainability Reporting identifies four areas which should be subject to disclosure . They are: Ethics Environment Health and Safety Social issues These information are considered important by The Code as it is considered as informative and will help stakeholders build a culture of social and environmental responsibility. (Code of Corporate Governance section 7) 6.3.1 Ethics Ethics means being responsible , diligent and integer. A business disclosing ethical principles will make people trust in it as they will know that the company has a good code of conduct. It will be assumed that this company is aware and concerned about its duties towards society and stakeholders. 6.3.2 Environment Firms should do their utmost best to reduce the negative effects of industrial production and adopt more effective and efficient methods to make least use of exhaustive recourses. The company should disclose any project that they do which have for effect to help in preserving the environment. 6.3.3 Health and Safety Health and Safety practices and policies should be developed and implemented in the business. Also, safety and health risk identification has to be undertaken. This will lead to betterment in risk management strategies. 6.3.4 Social issues Social issues include community involvement, human recourse and fair business practices. The Code requires that businesses adopt fair policies in promotion and recruitment of employees.

Strengths and Weaknesses Essay -- essays research papers

The objective of this paper is to show you the personal strengths and weakness that I identified by asking friends and family their opinion on the topic regarding yours truly, and by examining myself for areas that I am really good at (also known as strengths) and areas I need to improve (otherwise known as weaknesses). After I have identified them, I will tell you how recognizing my strengths and weakness can help me to improve myself to achieve a more peaceful and satisfying personal life. I will start with the unflattering information first and list my most obvious weaknesses.   Ã‚  Ã‚  Ã‚  Ã‚  My weaknesses were hard for me to identify but with the help of friends I was suddenly very informed on what they were! I was able to identify one weakness on my own and it is impatience. There is an old saying that patience is a virtue. Any single one of my friends will agree with me that patience has never been one of my virtues. I want everything done right now and all the questions answered immediately. Given the chance I would go straight from A to C and would skip the B without a moments’ hesitation. My second weakness combined with impatience makes the situation even more pronounced. I am very impulsive which can be a good thing on occasion but usually ends up being a bad thing. I do not think about what I am going to do or say next or moderate the tone I say it in. I often sound very irritated and come across as being rude when that is not really true. In ...

Gang Violence Essay -- Argumentative Persuasive Gangs Teen Essays

Gang Violence Gangs are becoming a growing problem in American society. More young people are turning to gangs to solve problems in their lives. When youths join gangs they drop social activities with family, friends and school. Members fall behind their classmates in school and do not try. A study shows that less than 1% of gang bangers is literate1. Gangs destroy teenager lives and destroy their chances for a good education and happy life. Gangs are now a haven for rats.   Ã‚  Ã‚  Ã‚  Ã‚  Teenagers are joining gangs every day. They join gangs for many reasons. A former gang member known as G-Ball was very young when he joined a his gang. He and a friend would play a game. They would pose as gang members to be cool. Then police arrested him and other gang members for stealing cars. G-Ball never wanted to be a gang member he wanted to act and dress like one.   Ã‚  Ã‚  Ã‚  Ã‚  Another former gang member, Alonzo, age 17 wanted to join a gang because he had nothing to do after school. Both he and G-Ball joined a gang by choice. Keith, age 17 was forced into a gang. If he didn't join, he'd be hunted down and killed by the gang members. When older family member already in a gang, younger siblings are often forced in.   Ã‚  Ã‚  Ã‚  Ã‚  Many gangs use graffiti to show their power and to mark their turf. "Everywhere you go you see graffiti." Professor Allen Walker Read of Columbia University said, "The pen is mightier than the sword." Gangs in Parma are very active with the pen. They "tag" their property buildings and houses everywhere. Police want to know where all the parents are. Why aren't they doing anything about this? Many people in Parma want to know the answer to the same questions.   Ã‚  Ã‚  Ã‚  Ã‚  Cincinnati also has active gangs. "Graffiti is a creeping problem in every neighborhood and in and on public buildings" said Mayor Roxanne Qualls of Cincinnati said. Graffiti is so bad that Star Bank has donated $25,000 to have students to help clean up all the graffiti.2 The city made a group called the "E-Racers". These people are ready to clean up all the graffiti. The gangs set school buses on fire, tear-up park benches, and drive across lawns including the police station lawns.   Ã‚  Ã‚  Ã‚  Ã‚  Graffiti comes in many forms. Pictures are used to mark property (turf) but you may also see strange writing below it. They say to other gangs that they're the best, the number 1 gan... ...30 Jun. 1994. Breckenridge, Tom. "Gang graffiti makes its mark on Parma." The Plain Dealer 26 May 1994. Clinton, William J. "National Gang Violence Orivencion Week, 1994." The White House: Office of the President of the United States Sept. 10,1994 Internet. Delgado, Robert. "Anti-Gang Movement" Doug's Home Page Sept. 28, 1995. Internet. Gillispie, Mark. "Chicago gangs still thrive in the city of their birth" The Plain Dealer 12 Jan. 1992. Gillispie, Mark. "Federal agencies shift concentration to gangs" The Plain Dealer 19 Jan. 1992. Gillispie, Mark; Shepard, Paul. "Former gang members recall `gentler times`." The Plain Dealer 12 Jan, 1992. Gillispie, Mark; Shepard, Paul. "Suburban police hoping to nip gangs in the bud." The Plain Dealer 17 Jan 1992. Horswell, Cindy. "Gangs get a dressing down." Houston Chronicle 28 March 1992:1A+ Marrison, Benjamin. "Mayor seeks `New Cleveland`." The Plain Dealer 1 Feb., 1992. Neff, Jon. "On-line Guide to Gang Signs and Graffiti" Highway 51 1995 Internet Phoenix Police Department -- G.R.E.A.T. Phoenix Police Department Home Page 1994 Internet. Welson, Roger. "Off the wall" Natural History May 1993

Ias 11

IAS 11 International Accounting Standard 11 Construction Contracts In April 2001 the International Accounting Standards Board (IASB) adopted IAS 11 Construction Contracts, which had originally been issued by the International Accounting Standards Committee in December 1993. IAS 11 Construction Contracts replaced parts of IAS 11 Accounting for Construction Contracts (issued in March 1979). Other IFRSs have made minor consequential amendments to IAS 11. They include IAS 23 Borrowing Costs (as revised in March 2007) and IAS 1 Presentation of Financial Statements (as revised in September 2007). IFRS Foundation A613 IAS 11 CONTENTS from paragraph INTERNATIONAL ACCOUNTING STANDARD 11 CONSTRUCTION CONTRACTS OBJECTIVE SCOPE DEFINITIONS COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS CONTRACT REVENUE CONTRACT COSTS RECOGNITION OF CONTRACT REVENUE AND EXPENSES RECOGNITION OF EXPECTED LOSSES CHANGES IN ESTIMATES DISCLOSURE EFFECTIVE DATE 1 3 7 11 16 22 36 38 39 46 FOR THE ACCOMPANYING DOCUMENTS LISTED BELOW, SEE PART B OF THIS EDITION ILLUSTRATIVE EXAMPLES Disclosure of accounting policies The determination of contract revenue and expenses Contract disclosures A614 Â ©IFRS Foundation IAS 11 International Accounting Standard 11 Construction Contracts (IAS 11) is set out in paragraphs 1–46. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 11 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Conceptual Framework for Financial Reporting. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. IFRS Foundation A615 IAS 11 International Accounting Standard 11 Construction Contracts Objective The objective of this Standard is to prescribe the accounting treatment of revenue and costs associated with construction contracts. Be cause of the nature of the activity undertaken in construction contracts, the date at which the contract activity is entered into and the date when the activity is completed usually fall into different accounting periods.Therefore, the primary issue in accounting for construction contracts is the allocation of contract revenue and contract costs to the accounting periods in which construction work is performed. This Standard uses the recognition criteria established in the Framework for the Preparation and Presentation of Financial Statements1 to determine when contract revenue and contract costs should be recognised as revenue and expenses in the statement of comprehensive income. It also provides practical guidance on the application of these criteria. Scope This Standard shall be applied in accounting for construction contracts in the financial statements of contractors. 2 This Standard supersedes IAS 11 Accounting for Construction Contracts approved in 1978. Definitions 3 The fo llowing terms are used in this Standard with the meanings specified: A construction contract is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use.A fixed price contract is a construction contract in which the contractor agrees to a fixed contract price, or a fixed rate per unit of output, which in some cases is subject to cost escalation clauses. A cost plus contract is a construction contract in which the contractor is reimbursed for allowable or otherwise defined costs, plus a percentage of these costs or a fixed fee. 4 A construction contract may be negotiated for the construction of a single asset such as a bridge, building, dam, pipeline, road, ship or tunnel.A construction contract may also deal with the construction of a number of assets which are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use; examples of such contracts include those for the construction of refineries and other complex pieces of plant or equipment. 1 IASC’s Framework for the Preparation and Presentation of Financial Statements was adopted by the IASB in 2001.In September 2010 the IASB replaced the Framework with the Conceptual Framework for Financial Reporting. A616 Â © IFRS Foundation IAS 11 5 For the purposes of this Standard, construction contracts include: (a) contracts for the rendering of services which are directly related to the construction of the asset, for example, those for the services of project managers and architects; and contracts for the destruction or restoration of assets, and the restoration of the environment following the demolition of assets. (b) 6Construction contracts are formulated in a number of ways which, for the purposes of this Standard, are classified as fixed price contracts and cost plus contracts . Some construction contracts may contain characteristics of both a fixed price contract and a cost plus contract, for example in the case of a cost plus contract with an agreed maximum price. In such circumstances, a contractor needs to consider all the conditions in paragraphs 23 and 24 in order to determine when to recognise contract revenue and expenses.Combining and segmenting construction contracts 7 The requirements of this Standard are usually applied separately to each construction contract. However, in certain circumstances, it is necessary to apply the Standard to the separately identifiable components of a single contract or to a group of contracts together in order to reflect the substance of a contract or a group of contracts.When a contract covers a number of assets, the construction of each asset shall be treated as a separate construction contract when: (a) (b) separate proposals have been submitted for each asset; each asset has been subject to separate negotiation and the contractor and customer have been able to accept or reject that part of the contract relating to each asset; and the costs and revenues of each asset can be identified. (c) 9 A group of contracts, whether with a single customer or with several customers, shall be treated as a single construction contract when: (a) (b) the group of contracts is negotiated as a single package; the contracts are so closely interrelated that they are, in effect, part of a single project with an overall profit margin; and the contracts are performed concurrently or in a continuous sequence. (c) 10A contract may provide for the construction of an additional asset at the option of the customer or may be amended to include the construction of an additional asset. The construction of the additional asset shall be treated as a separate construction contract when: (a) the asset differs significantly in design, technology or function from the asset or assets covered by the original contract; or the pri ce of the asset is negotiated without regard to the original contract price. b) Â © IFRS Foundation A617 IAS 11 Contract revenue 11 Contract revenue shall comprise: (a) (b) the initial amount of revenue agreed in the contract; and variations in contract work, claims and incentive payments: (i) (ii) to the extent that it is probable that they will result in revenue; and they are capable of being reliably measured. 12Contract revenue is measured at the fair value of the consideration received or receivable. The measurement of contract revenue is affected by a variety of uncertainties that depend on the outcome of future events. The estimates often need to be revised as events occur and uncertainties are resolved. Therefore, the amount of contract revenue may increase or decrease from one period to the next.For example: (a) a contractor and a customer may agree variations or claims that increase or decrease contract revenue in a period subsequent to that in which the contract was init ially agreed; the amount of revenue agreed in a fixed price contract may increase as a result of cost escalation clauses; the amount of contract revenue may decrease as a result of penalties arising from delays caused by the contractor in the completion of the contract; or when a fixed price contract involves a fixed price per unit of output, contract revenue increases as the number of units is increased. b) (c) (d) 13 A variation is an instruction by the customer for a change in the scope of the work to be performed under the contract. A variation may lead to an increase or a decrease in contract revenue. Examples of variations are changes in the specifications or design of the asset and changes in the duration of the contract. A variation is included in contract revenue when: (a) (b) it is probable that the customer will approve the variation and the amount of revenue arising from the variation; and the amount of revenue can be reliably measured. 4 A claim is an amount that the co ntractor seeks to collect from the customer or another party as reimbursement for costs not included in the contract price. A claim may arise from, for example, customer caused delays, errors in specifications or design, and disputed variations in contract work. The measurement of the amounts of revenue arising from claims is subject to a high level of uncertainty and often depends on the outcome of negotiations.Therefore, claims are included in contract revenue only when: (a) (b) negotiations have reached an advanced stage such that it is probable that the customer will accept the claim; and the amount that it is probable will be accepted by the customer can be measured reliably. A618 Â © IFRS Foundation IAS 11 15 Incentive payments are additional amounts paid to the contractor if specified performance standards are met or exceeded. For example, a contract may allow for an incentive payment to the contractor for early completion of the contract.Incentive payments are included in c ontract revenue when: (a) (b) the contract is sufficiently advanced that it is probable that the specified performance standards will be met or exceeded; and the amount of the incentive payment can be measured reliably. Contract costs 16 Contract costs shall comprise: (a) (b) costs that relate directly to the specific contract; costs that are attributable to contract activity in general and can be allocated to the contract; and such other costs as are specifically chargeable to the customer under the terms of the contract. c) 17 Costs that relate directly to a specific contract include: (a) (b) (c) (d) (e) (f) (g) (h) site labour costs, including site supervision; costs of materials used in construction; depreciation of plant and equipment used on the contract; costs of moving plant, equipment and materials to and from the contract site; costs of hiring plant and equipment; costs of design and technical assistance that is directly related to the contract; the estimated costs of rect ification and guarantee work, including expected warranty costs; and claims from third parties.These costs may be reduced by any incidental income that is not included in contract revenue, for example income from the sale of surplus materials and the disposal of plant and equipment at the end of the contract. 18 Costs that may be attributable to contract activity in general and can be allocated to specific contracts include: (a) (b) (c) insurance; costs of design and technical assistance that are not directly related to a specific contract; and construction overheads. Â ©IFRS Foundation A619 IAS 11 Such costs are allocated using methods that are systematic and rational and are applied consistently to all costs having similar characteristics. The allocation is based on the normal level of construction activity. Construction overheads include costs such as the preparation and processing of construction personnel payroll. Costs that may be attributable to contract activity in general and can be allocated to specific contracts also include borrowing costs. 9 Costs that are specifically chargeable to the customer under the terms of the contract may include some general administration costs and development costs for which reimbursement is specified in the terms of the contract. Costs that cannot be attributed to contract activity or cannot be allocated to a contract are excluded from the costs of a construction contract.Such costs include: (a) (b) (c) (d) 21 general administration costs for which reimbursement is not specified in the contract; selling costs; research and development costs for which reimbursement is not specified in the contract; and depreciation of idle plant and equipment that is not used on a particular contract. 20 Contract costs include the costs attributable to a contract for the period from the date of securing the contract to the final completion of the contract.However, costs that relate directly to a contract and are incurred in securing t he contract are also included as part of the contract costs if they can be separately identified and measured reliably and it is probable that the contract will be obtained. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs when the contract is obtained in a subsequent period.Recognition of contract revenue and expenses 22 When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs associated with the construction contract shall be recognised as revenue and expenses respectively by reference to the stage of completion of the contract activity at the end of the reporting period. An expected loss on the construction contract shall be recognised as an expense immediately in accordance with paragraph 36.In the case of a fixed price contract, the outcome of a construction contract can be estimated reliably when all the following conditions are satisfied: (a) (b) total contract revenue can be measured reliably; it is probable that the economic benefits associated with the contract will flow to the entity; both the contract costs to complete the contract and the stage of contract completion at the end of the reporting period can be measured reliably; and 23 (c) A620 Â © IFRS Foundation IAS 11 (d) he contract costs attributable to the contract can be clearly identified and measured reliably so that actual contract costs incurred can be compared with prior estimates. 24 In the case of a cost plus contract, the outcome of a construction contract can be estimated reliably when all the following conditions are satisfied: (a) it is probable that the economic benefits associated with the contract will flow to the entity; and the contract costs attributable to the contract, whether or not specifically reimbursable, can be clearly identified and measured reliably. b) 25 The recognition of revenue and expenses by reference to t he stage of completion of a contract is often referred to as the percentage of completion method. Under this method, contract revenue is matched with the contract costs incurred in reaching the stage of completion, resulting in the reporting of revenue, expenses and profit which can be attributed to the proportion of work completed. This method provides useful information on the extent of contract activity and performance during a period.Under the percentage of completion method, contract revenue is recognised as revenue in profit or loss in the accounting periods in which the work is performed. Contract costs are usually recognised as an expense in profit or loss in the accounting periods in which the work to which they relate is performed. However, any expected excess of total contract costs over total contract revenue for the contract is recognised as an expense immediately in accordance with paragraph 36.A contractor may have incurred contract costs that relate to future activit y on the contract. Such contract costs are recognised as an asset provided it is probable that they will be recovered. Such costs represent an amount due from the customer and are often classified as contract work in progress. The outcome of a construction contract can only be estimated reliably when it is probable that the economic benefits associated with the contract will flow to the entity.However, when an uncertainty arises about the collectibility of an amount already included in contract revenue, and already recognised in profit or loss, the uncollectible amount or the amount in respect of which recovery has ceased to be probable is recognised as an expense rather than as an adjustment of the amount of contract revenue. An entity is generally able to make reliable estimates after it has agreed to a contract which establishes: (a) (b) (c) each party’s enforceable rights regarding the asset to be constructed; the consideration to be exchanged; and the manner and terms of settlement. 6 27 28 29 It is also usually necessary for the entity to have an effective internal financial budgeting and reporting system. The entity reviews and, when necessary, revises the estimates of contract revenue and contract costs as the contract progresses. The need for such revisions does not necessarily indicate that the outcome of the contract cannot be estimated reliably. Â © IFRS Foundation A621 IAS 11 30 The stage of completion of a contract may be determined in a variety of ways. The entity uses the method that measures reliably the work performed.Depending on the nature of the contract, the methods may include: (a) (b) (c) the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs; surveys of work performed; or completion of a physical proportion of the contract work. Progress payments and advances received from customers often do not reflect the work performed. 31 When the stage of completion is determined b y reference to the contract costs incurred to date, only those contract costs that reflect work performed are included in costs incurred to date.Examples of contract costs which are excluded are: (a) contract costs that relate to future activity on the contract, such as costs of materials that have been delivered to a contract site or set aside for use in a contract but not yet installed, used or applied during contract performance, unless the materials have been made specially for the contract; and payments made to subcontractors in advance of work performed under the subcontract. (b) 32When the outcome of a construction contract cannot be estimated reliably: (a) revenue shall be recognised only to the extent of contract costs incurred that it is probable will be recoverable; and contract costs shall be recognised as an expense in the period in which they are incurred. (b) An expected loss on the construction contract shall be recognised as an expense immediately in accordance with paragraph 36. 33 During the early stages of a contract it is often the case that the outcome of the contract cannot be estimated reliably.Nevertheless, it may be probable that the entity will recover the contract costs incurred. Therefore, contract revenue is recognised only to the extent of costs incurred that are expected to be recoverable. As the outcome of the contract cannot be estimated reliably, no profit is recognised. However, even though the outcome of the contract cannot be estimated reliably, it may be probable that total contract costs will exceed total contract revenues.In such cases, any expected excess of total contract costs over total contract revenue for the contract is recognised as an expense immediately in accordance with paragraph 36. Contract costs that are not probable of being recovered are recognised as an expense immediately. Examples of circumstances in which the recoverability of contract costs incurred may not be probable and in which contract costs m ay need to be recognised as an expense immediately include contracts: (a) that are not fully enforceable, ie their validity is seriously in question; 34 A622 Â © IFRS Foundation IAS 11 (b) (c) (d) (e) 5 the completion of which is subject to the outcome of pending litigation or legislation; relating to properties that are likely to be condemned or expropriated; where the customer is unable to meet its obligations; or where the contractor is unable to complete the contract or otherwise meet its obligations under the contract. When the uncertainties that prevented the outcome of the contract being estimated reliably no longer exist, revenue and expenses associated with the construction contract shall be recognised in accordance with paragraph 22 rather than in accordance with paragraph 32.Recognition of expected losses 36 When it is probable that total contract costs will exceed total contract revenue, the expected loss shall be recognised as an expense immediately. 37 The amount of s uch a loss is determined irrespective of: (a) (b) (c) whether work has commenced on the contract; the stage of completion of contract activity; or the amount of profits expected to arise on other contracts which are not treated as a single construction contract in accordance with paragraph 9. Changes in estimates 8 The percentage of completion method is applied on a cumulative basis in each accounting period to the current estimates of contract revenue and contract costs. Therefore, the effect of a change in the estimate of contract revenue or contract costs, or the effect of a change in the estimate of the outcome of a contract, is accounted for as a change in accounting estimate (see IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors). The changed estimates are used in the determination of the amount of revenue and expenses recognised in profit or loss in the period in which the change is made and in subsequent periods.Disclosure 39 An entity shall disclose: (a) (b) the amount of contract revenue recognised as revenue in the period; the methods used to determine the contract revenue recognised in the period; and the methods used to determine the stage of completion of contracts in progress. (c) Â © IFRS Foundation A623 IAS 11 40 An entity shall disclose each of the following for contracts in progress at the end of the reporting period: (a) the aggregate amount of costs incurred and recognised profits (less recognised losses) to date; the amount of advances received; and the amount of retentions. b) (c) 41 Retentions are amounts of progress billings that are not paid until the satisfaction of conditions specified in the contract for the payment of such amounts or until defects have been rectified. Progress billings are amounts billed for work performed on a contract whether or not they have been paid by the customer. Advances are amounts received by the contractor before the related work is performed. An entity shall present: (a) (b) the g ross amount due from customers for contract work as an asset; and the gross amount due to customers for contract work as a liability. 2 43 The gross amount due from customers for contract work is the net amount of: (a) (b) costs incurred plus recognised profits; less the sum of recognised losses and progress billings for all contracts in progress for which costs incurred plus recognised profits (less recognised losses) exceeds progress billings. 44 The gross amount due to customers for contract work is the net amount of: (a) (b) costs incurred plus recognised profits; less the sum of recognised losses and progress billings or all contracts in progress for which progress billings exceed costs incurred plus recognised profits (less recognised losses). 45 An entity discloses any contingent liabilities and contingent assets in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Contingent liabilities and contingent assets may arise from such items as warrant y costs, claims, penalties or possible losses. Effective date 46 This Standard becomes operative for financial statements covering periods beginning on or after 1 January 1995. A624 Â © IFRS Foundation