How Does Demand Reversal Invalidates the Theory of Hecksher-Ohlin Theorem - Free Essay Example

The modern theory of international trade Figure 1. 1 DEMAND REVERSAL Country A produces at point A, specializing in the production of steel, it consumes at point D, given the utility pattern represented by the indifference curve (IC a). This means that country A exports EA amount and import ED amount of steel. Therefore country A which is a capital surplus country is exporting labour intensive goods (cloth) and importing capital intensive goods (steel). This is in direct conflict with the HECKSCHER OHLIN prediction concerning the commodity structure of trade. Likewise, country B specializes in the production of cloth, but it consumes at point G in response to its utility pattern represented by the indifference (IC b). Therefore it exports BF amount of steel and imports FG amount of cloth. Once again we notice that country B, which is a labour surplus country exports capital intensive goods (steel) and imports labour intensive goods (cloth). The HECKSCHER OHLIN prediction is overturned. In this case, represented in figure 1. 1 we have a situation of what is called demand reversal. Here not only the two biases-consumption and production are in the same direction but also the consumption bias more than offsets the production bias. Consumption point D lies to the left of production point A in country A and in country B the consumption point G lies to the right of production point B. When such a demand reversal takes place, the capital surplus country would export labour intensive goods. The HECKSCHER OHLIN theory would then be invalidated by the demand reversal Critical evaluation of the HECKSCHER OHLIN theorem In the area of pure theory of international trade, the HECKSCHER OHLIN model occupies a very prestigious position. The very fact that many known Economists like Leontief, Walters, Minhas and others have tried to test the empirical validity of the HECKSCHER OHLIN theorem using econometric models, stands as a testimony of the prestige of the model. The HECKSCHER OHLIN theorem has been criticised mainly along the following lines: the factor intensity reversal, Leontief and paradox and demand reversal argument Factor intensity argument The HECKSCHER OHLIN theorem was based on the assumption that the production unctions are different for different goods but they are identical for each good in two countries. This, in other words means that one good is capital intensive and the other good is labour intensive, but the same good which is capital intensive in one country, must be capital intensive in the other country also and the labour intensive good remains labour intensive in both the coun tries. This assumption is guaranteed when both the two production isoquants for capital intensive and labour intensive cut each other only once but not more than once in diagram 1 this is shown to happen at point Q. The demonstration in diagram 1 is consistant with the HECKSCHER OHLIN assumption of non-reversability of factor intensities. If factor intensity reversal takes place, then two isoquants will cut each other more than once and the HECKSCHER OHLIN theorem would turn out to be invalid this case is demonstrated in the following diagram. The two production isoquants for steel and cloth cut each other twice in the succeeding diagram: once at point A and the second time at point B. The factor price ratios in country A(capital surplus country) are represented by the parallel lines P 0 P 0. P 1 P 1 represent the factor price ratios in country B(Labour surplus country). In the above diagram note the following factors: in country A steel is labour intensive. In order to produce one unit of either steel or cloth, country A has to use the same amount of capital but more labour for steel than cloth. Cloth has a higher capital-labour ratio and steel has a lower capital-labour ratio. Therefore, a capital rich country like country A would specialize in the production and export of the capital intensive goods, which is cloth. It would import steel which is a labour intensive good. In Country B, cloth is a labour intensive good and steel is a capital intensive good. Because, to produce one unit of cloth it takes a given amount of labour and smaller amount of capital as compared to steel. Steel takes the same amount of labour but more capital per unit of output. In country B, therefore, steel has a higher capital –labour ratio than in cloth. Naturally country B (labour surplus country), would choose to specialize in the production and exports of the labour intensive goods, cloth. Country B therefore would export cloth and import steel which is capital intensive. In this case of factor intensity reversal, as we say above both the countries produce and export the same commodity i. e. cloth. In the capital rich country (country A) it is a capital intensive product and in the labour rich country (country B) it is a labour intensive product. That means the same product (cloth) is capital intensive in one country but less intensive in another country. The same thing applies to steel as well. Steel is labour intensive product in the capital rich country (country B). This is a situation of a factor intensity reversal. When this takes place, both countries end up producing and exporting the same commodities (cloth) and importing the other commodity (steel). This would invalidate the Heckscher Ohlin prediction regarding the structure of commodity trade. In the above diagram the two isoquants cut each other more than once, suggesting factory intensity reversal to the left of point A and to the right of point B. For factor intensities to reverse themselves, it is not, however necessary that the two isoquants cut each other more than once. Leontief and paradox The first comprehensive and detailed examination of the Heckscher Ohlin theorem was the one undertaken by Leontief. You will recall that the theory of factor proportions predicted that the capital abundant country exported capital intensive goods and imported labour intensive goods, and the labour surplus country did the opposite. It is commonly agreed that the USA is a capital rich and labour scarce country. Therefore one would expect exports to consist of capital intensive goods and imports to consist of labour intensive goods. Leontief made an extensively study of the USA and the results were startling, in contrast to what the Heckscher Ohlin theory predicted, Leontief`s study showed that the USA exports consisted of labour intensive goods and imports consisted of capital intensive goods. In Leontief`s own words† Americas participation in division of labour in international trade is based on its specialization in labour intensive rather than capital intensive lines of production. In other words the country resorts to foreign trade in order to economize its capital and dispose its surplus labour rather than vice versa. Leontief`s findings are summarized in the following table Exportsimports Capital in US $ in 1947 prices2. 550. 7803. 091. 339 Labour (man years)1. 80. 3131. 70. 004 Capital-labour ratio( US $ per man hour)13. 91118. 185 From the above table, it is obvious that the US exports had a lower capital-labour ratio that these are import replacement produced in the US as opposed to the actually imported goods of the country. Leontief`s paradox results stimulated similar studies for other countries

Accepting Others in Adolescence Stage - 643 Words

Everyone in their lifetime goes through the Adolescence stage, where they feel like they don’t fit in. They try so hard to fit in and be accepted by others, but yet there is still something about them that isn’t the same as everyone else. Whether or not it’s trying to fit in with the â€Å"populars† or trying to not be the next person to be bullied, they can’t seem to find what they are looking for. Those â€Å"popular† people may think that they can’t take action and help those who don’t fit in, but they can. Accepting others for the way they are and allowing them into a social group can change the way they feel about themselves. They may feel hopeless and lost, but all they need is a friend to help them through this tough stage in life. Adolescence is about fitting in. This is the stage of life where kids are being judged by the way they dress, how big their house is, and even the amount of money their parents make. People are n’t being accepted into social groups because they are judged by what they look like and how they live, instead of their personality. As Shane Koyczan states, â€Å"We were being told that we somehow must become what we are not, sacrificing what we are to inherit the masquerade of what we will be. I was being told to accept the identity that others will give me,† (Koyczan). This personal experience illustrates to us that people who don’t fit in are dealing with problem by ignoring it and allowing people to have control over them. 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Organizational Culture And Performance By Kotter And Heskett

Organisational culture refers to a diverse system of shared values, principles and behaviors that influence the behavior of employees in organisations. Organisations exist to achieve certain goals, ranging from profits and reputation to efficient work practices and an efficient working environment. The culture of an organisation has a strong influence on employee behavior and organisational performance and is therefore the catalyst which determines the success or failure of an organisation. As stated by Kotter and Heskett in their book ‘Corporate Culture and Performance’ â€Å"strong corporate cultures that facilitate adaptation to a changing world are associated with strong financial results† (2015). The true value of a company is no longer determined by looking through financial statements. In the 21st century, a strong organisational culture is viewed as an intangible asset through its ability to improve performance and the success of the organisation. 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Innovation and Technology Management Innovation and Growth

Question: Provide a completion statement confirming the achievements identified in the introduction for Innovation and Technology Management? Answer: Introduction The current study explains the significance of the emergence of technological innovation as a major force behind economic growth despite the pains that it has meted out in the past. In particular, the present study attempts to investigate the impact of innovation and technological developments on sustainable economic and social development. However, the present study also presents a critical review of the rise of the new digitised platforms in the economy and evaluates the concept of Robber Barons outlining the relationship between the state and the business. In addition to this, the current paper also illustrates the consequences of the third great wave of industrialization in comparison to the first two industrial revolutions. This in turn helps in critical evaluation of the impact of the third great wave that has resulted in invention as well as economic developments, primarily set off by the advancements in the computing and information and communication technology. However the scientific as well as technological innovation gave rise of the new platforms that formed the basis of the digitalisation and the sources of economic opportunities. Critical Review As rightly put forward by Andersson (2012), the physical platforms primarily refer to the stand that can be used as a support or basic inputs for other activities as well as products. The idea of physical platform has been there for quite a long time; however, the rise of digital platform was first marked in the software industry during the period 1980s and 1990s. The digitalised platform segmented into operating systems and applications were the two core parts of the platform that had the capacity of advancing tomorrows economy as well as the government. The digitalised platforms were utilised by industries such as the railways, car industry, banks along with other software and IT and hardware industries. Nevertheless, Ark (2014) argued that the advent of the digitalised and automated platform initially affected labour intensive industries where labour forces were replaced by automated modes of work. As a result of the advent of the new digitalised platform a huge population of the work force lost their jobs and the people felt the pain of replacement of labour intensive work procedure with the automated and mechanised one. However, the advent of the mechanised platform initially inflicted immense pain on the population initially, but later on the impact of the platform subsequently proved to be monumental (Core.ac.uk, 2016). As rightly mentioned by Talukder (2014), the platforms radically changed the making and building block of the economy by lowering the costs of operations of the business by utilizing low labour intensive technologies thereby started utilizing central data banks and information systems, built energy- saving applications, online banking and payment processors and digitalised value chains among many others. As suggested by Staton (2012), the rise of the new digitalised platforms helped the banking industry to form online networks, aggregated financial data for keeping books, use payment processors such as the First Data and TSYS. The railways developed the power grid system and other automated physical platforms. In addition to this, the power industry used platformisation in order to develop energy saving applications and smart meter apps to emerge as a digital material for catering services in a more cost effective and fast way (The Economist, 2015). The IT industry served to the other industries. The systems with the vertically assimilated components with segmented layers such as the main stream computers showed the way for sketching the architecture. The IT sector therefore can be seen as a inverted pyramid where the base represents the powerful platforms that helps businesses to gain economies of scale and the top represents the agility of operations as well as creativity of operations that can be further fragmented into several divisions. However, the workers initially found it very hard to cope with the fast mode of operations of the business in almost all the digitalised economy (Gelookahead.economist.com, 2016). As rightly mentioned by Rampersad and Patel (2014), the second industrial revolution occurred in the period between the Civil War and the early 20th century essentially marked the period of emergence of remarkable rate of growth in the arena of technology, corporations and the overall economy. In addition to this, the favourable government policies in the era of tremendous growth in the business and the industrial development enhanced the market advantages and also the key people who managed the big corporations. The key people who headed the huge corporations in that age were less worthily known as Robber Barons, primarily due to their anti-competitive business practices as well as exploitative relationships with the workers (The Economist, 2014). The Robber Barons of that age struggled to form monopoly businesses by developing innovative process of management, arrangement and organization as well as the production. The practices of the late 1800s were correctly coined by Mark Twain as the Gilded Age as the corporate of the late 19th century left innovative and new trails in the business world though the exploitative and the non-competitive nature of business practices needed to be evaluated against the laws of the modern times and the ethical considerations (McDaniel, 2012). Therefore, it can be clearly seen from the concept of Robber Barons that even the high rate of growth and inexorable march of the industries towards development cannot ensure the enhancement of the quality of life of the people and the entire society. Moreover, the tremendous growth rate due to the industrial revolution also cannot make proper functioning of the market and overall development of the economy. Therefore, it can be said that government plays a key role in the business structure and concepts of Robber Barons and the two needs to complement each other for creating the modern ways of carrying out the business operations. However, the government interference needs to be adequate that can help in generation of wealth instead of hindering the commerce and at the same time aid in controlling the businesses that exploit workers as well as consumers, evade the taxes and carry out the practices that are against the interests of the society (The Economist, 2016). Kogan (2012) rightly suggests that the lack of proper management of the innovation in the technological developments and the coordination between the state and the business is necessary for appropriate functioning. The state and the business are the two complementary sides that need to support each other. The government needs the support of the businesses to drive the rate of economic growth, generate employment opportunities, and increase exports for creation of trade surplus required for making payments in the world trade. On the other side, the businesses require government support for providing them an appropriate legal environment, basic security, creating necessary infrastructure and educating labours to undertake the daily business operations. The government also assume a lot of scientific research works and fund them that the businesses can utilize for their own commercial needs by converting the same into marketable products, for example, the internet network, satellite posi tioning process and drug formulations among many others. Therefore, the intervention of the state is necessary for proper management of the innovative technology and the application of the same for business purposes. The state intervention can also help in avoiding the anti competitive and the unfair practices by the industry leaders for the betterment of the society (Radio National, 2016). As rightly put forward by Iordanova and Cunningham (2012), the third great wave of digitalisation created the new wave of invention and at the same time economic disruption primarily driven by the improvement in the computing as well as advanced communication technology that emerged in the late 20th century. Staton (2012) opines that the third great wave of digitalisation had the potential to deliver a similar combination of social stress as well as economic evolution driven by technologies such as the intelligence of the mechanised operations, ubiquitous web and the improved robotics with the capacity of delivering several noteworthy innovations. The technological innovations in the third great wave such as the unmanned vehicles, drones, mobile technologies, language translating machines and many others aggravated the speed of development and swept away the old economic frames that in turn transformed the society and developed the lives of the people. The new economic opportunities delivered on a mass scale replaced the old ones. McDaniel (2012) opines that the new economic opportunities had the capacity of destroying the job opportunities and labour intensiveness of operations. According to the opinion of McDaniel (2012), around 47% of employment opportunities in America is under threat due to the advent of the automated mode of operation. Therefore there is an urgent need for the up gradation of the skills of the workers in order to maintain their continued employment (Library.uiuc.edu, 2016). Rampersad and Patel (2014) rightly argue that the emergence of the digital revolution is creating segmentation between the skilled and the wealthy and the rest of the society. As indicated by Iordanova and Cunningham (2012), the new technological innovations in the past helped in raising the wages by enhancement of the productivity with the gain being divided between the skilled and the semi-skilled workers and also between the owners of capital, labours and the end users. Therefore, it is apparent that the new technology is creating wide gaps between the earning levels of the skilled and the semi-skilled or the unskilled workers, owners of the capital and the labour. Therefore, along with empowerment of labour productivity the new third wave of digitalisation has also created a big pool of under employed workers that in turn is discouraging investment in the economy. As rightly suggested by Kogan (2012), the impact of technological evolutions on trade is also altering the basis of trial and error methods of economic development mainly in less developed economies. The mechanised manufacturing work that requires skilled design of work accounts for a larger proportion of the total value of trade that is subsequently leading to pre mature deindustrialisation in the developing countries. The governments increasingly depend on the developing industrial sector to absorb greater percentage of the unskilled workers primarily from the less developed and rural workers. Therefore in both the rich and the emerging economy, innovative technology is generating opportunities for the workforces that were earlier tied and held back by the financial as well as geographical constrictions. However, the new job opportunities for the labours with modest skill levels have become scarce in comparison to the bonanza job opportunities created by the previous industrial rev olutions. The first industrial revolution that started in the late 18th century and the second one approximately hundred years later brought about radical changes in the business and the economy. Workforces felt uncomfortable to cope up with the dynamic changes in the work process and many lost their jobs to Cartwrights power loom and thereafter to Edisons electric light in addition to Benzs horseless carriage along with other inventions. Nevertheless, they generated economic opportunities that were successfully replaced by new work. However, it is yet to be seen whether the digital revolution also has the potential to create job on a mass scale in order to make up for the job destruction due to the digital revolution (Gelookahead.economist.com, 2016). Conclusion The above study critically evaluates the economic opportunities brought about by the technological innovation and digital platformisation. The study presents a comprehensive comparative benefit analysis by focusing on the economic benefits of the digitalisation and at the same time outlining the ill effects of the capital intensive and mechanised systems. The systems of digitalisation is also creating new demands that are predominantly lesser labour intensive and fail to absorb unskilled labours in the industry and therefore can subsequently lead to premature deindustrialisation. However, the government can formulate strategies to educate the workers to avoid deindustrialisation and to handle the dynamic changes in the industry work procedure by adequately equipping them with the necessary education and the skill sets for continued employment. The digitalisation has certainly improved the pace of business operations by countless innovative inventions that can open up new economic opp ortunities and create economies of scale and in turn evolve the entire business and the state. References Andersson, M. (2012). Innovation and growth. Oxford: Oxford University Press. Ark, B. (2014). Productivity and digitalisation in Europe. Brussels: Lisbon Council. Core.ac.uk. (2016). CORE - COnnecting REpositories. [online] Available at: https://core.ac.uk [Accessed 19 Mar. 2016]. Gelookahead.economist.com. (2016). [online] Available at: https://gelookahead.economist.com/platforms-on-the-rise/ [Accessed 19 Mar. 2016]. Iordanova, D. and Cunningham, S. (2012). Digital disruption. St Andrews: St. Andrews film studies. Kogan, L. (2012). Technological innovation, resource allocation, and growth. Cambridge, Mass.: National Bureau of Economic Research. Library.uiuc.edu. (2016). University Library, University of Illinois. [online] Available at: https://library.uiuc.edu [Accessed 19 Mar. 2016]. McDaniel, M. (2012). The industrial revolution. New York: Children's Press. Radio National. (2016). Digital revolution: the 'third great wave'. [online] Available at: https://www.abc.net.au/radionational/programs/drive/the-27third-great-wave273a-digital-revolution/5799796 [Accessed 19 Mar. 2016]. Rampersad, G. and Patel, F. (2014). Technology innovation leadership in development. Staton, H. (2012). The industrial revolution. New York: Kingfisher. Talukder, M. (2014). Managing innovation adoption. The Economist. (2014). A world of robber barons. [online] Available at: https://www.economist.com/news/special-report/21596667-relationship-between-business-and-government-becoming-increasingly-antagonistic [Accessed 19 Mar. 2016]. The Economist. (2015). Robber barons and silicon sultans. [online] Available at: https://www.economist.com/news/briefing/21637338-todays-tech-billionaires-have-lot-common-previous-generation-capitalist [Accessed 19 Mar. 2016]. The Economist. (2016). The Economist - World News, Politics, Economics, Business Finance. [online] Available at: https://www.economist.com [Accessed 19 Mar. 2016].

The Soundtrack of My Life Essay Example For Students

The Soundtrack of My Life Essay My name is Marian _______________. I am a person who loves all kinds of music, especially romantic. I grew up in a free and healthy environment. My hometown of Ciego de Avila, Cuba is a place full of gentle and friendly people, where I used to listen loud music without bothering my neighbors. After I spent almost nineteen years of my life in that place, I moved to Florida, United States. Nowadays, I am living with my husband and my daughter in a beautiful house full of love. I present this soundtrack to you as an important part of what my life has been. We will write a custom essay on The Soundtrack of My Life specifically for you for only $16.38 $13.9/page Order now Each song was carefully selected to express and explain different events in my past five years. Likewise, I think this assignment will help me look deep inside me. Analyzing prudently each track will also change my perspective of life. I want to become a better person and be successful in college. I want to have a greater life. By completing this project, I hope to find correct ways to solve problems and not only expect to become an excellent critical tinker, but also I want my voice to be heard. I have only one life, and I want to live it to the fullest till the end. In the past five years of my life I have had not only many falls, but also many ups. One of those ups was when I saw him again, my perfect man, the love of my life, the father of my daughter. All started in the airport while I waited for my mother. My father and I invited some old friends of the family to give my mom a great welcome. Suddenly, I looked to the big open door and there he was. This time he was more handsome and attractive than last time. Can you imagine almost four years without seeing him? While my hands were shaking and sweating, he approached and my heart exploded. At that moment, I realized that I wanted to be with him for the rest of my life. I chose the beautiful song I am alive from a talented singer as Celine Dion is, to be the first song of my soundtrack, because it significantly explains the way I feel when he is around me. In her lyrics, Celine Dion says When I hear you breathe, I get wings to fly, I fell that I am alive He makes me feel exactly the way this singer describes it in her song. Today, we have been together for five years; and it ´s only begun, I can ´t wait for the rest of my life As a product of that love, our beautiful little Melanie was born. At the beginning no one accepted my pregnancy, because I was too young and still studying; however, over the time, our family understood the decision we made. After the longest nine months of my life, finally my little miracle of life come true. That is why I chose Miracle as the second song of my soundtrack, and it is performed also by Celine Dion. It has a huge meaning for me because it reminds me those days when I hold my daughter in my arms for the first time. She is the most magnificent person God could ever give me. As the performer says in her lyrics, Only God creates such a perfect love. It is so difficult for me to describe that sensation; I felt like the most beautiful feeling inside my heart. This song reached my soul, and it took my breath away. In one of her verses, Celine Dion says I never knew a love like this till you, and she is right. Life is no longer about me; now, life is all about her. She is my miracle of life. But in life, not everything is happiness or perfection, and as other relationships, I have had problems too. Which one? Parents in law; that is how I define my problem. .u04c84daa01a6b231a05580ffa5191c8e , .u04c84daa01a6b231a05580ffa5191c8e .postImageUrl , .u04c84daa01a6b231a05580ffa5191c8e .centered-text-area { min-height: 80px; position: relative; } .u04c84daa01a6b231a05580ffa5191c8e , .u04c84daa01a6b231a05580ffa5191c8e:hover , .u04c84daa01a6b231a05580ffa5191c8e:visited , .u04c84daa01a6b231a05580ffa5191c8e:active { border:0!important; } .u04c84daa01a6b231a05580ffa5191c8e .clearfix:after { content: ""; display: table; clear: both; } .u04c84daa01a6b231a05580ffa5191c8e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u04c84daa01a6b231a05580ffa5191c8e:active , .u04c84daa01a6b231a05580ffa5191c8e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u04c84daa01a6b231a05580ffa5191c8e .centered-text-area { width: 100%; position: relative ; } .u04c84daa01a6b231a05580ffa5191c8e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u04c84daa01a6b231a05580ffa5191c8e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u04c84daa01a6b231a05580ffa5191c8e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u04c84daa01a6b231a05580ffa5191c8e:hover .ctaButton { background-color: #34495E!important; } .u04c84daa01a6b231a05580ffa5191c8e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u04c84daa01a6b231a05580ffa5191c8e .u04c84daa01a6b231a05580ffa5191c8e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u04c84daa01a6b231a05580ffa5191c8e:after { content: ""; display: block; clear: both; } READ: Different Types of popular music. EssayThey want me to do whatever they want, without realizing that I have my own opinions and different ways to solve my struggles. In addition, I am a very respectful person; therefore, I would rather stay quiet, bite my tongue and hold my breath before saying any phrase someone does not like. At that point, while I was selecting the songs for this assignment, I heard one that was strongly connected to my problem. That song is Roar by name, and it is performed by the young girl Katty Perry. After I listen to her lyrics I realized that I had a choice, that I cannot live like that anymore. Consequently, I took the decision to talk to my parents in law and speak up in the best way possible. I am not sure if they understood my point of view, but I am very proud of my own self. I guess I went from cero to my own hero To conclude, music plays a significant role in each one of our lives. As can be seen, it brings back memories of some events of the past, like mine, to remember how was my reunion with the love of my life, or when our daughter was born. On the other hand, music also influences sometimes in the decision we make. Previously, I was afraid of saying what I wanted to say, but after listening to the song, I got the strength needed to express myself. After all, I want to say thank you for taking some of your time to listen these sequence of songs. They represent an important part of my life, and I would like to conclude my project but not without saying: Live your life to the fullest and create your own dreams. Remember that dreams can come true, but only if you take the time to think about them and focus on what you have to do to achieve them.

Volcano Mount Vesusius Essays - Volcanology, Mount Somma

Volcano Mount Vesusius Essays - Volcanology, Mount Somma Volcano Mount Vesusius Mount Vesuvius is a volcano located in southern Italy, near the bay of Naples and the city of Naples. It is the only active volcano on the European mainland. Vesuvius rises to a height of 1277 m (4190 ft). Vesuvio (Vesuvius) is probably the most famous volcano on earth, and is one of the most dangerous. Mount Vesuvius is a strato-volcano consisting of a volcanic cone (Gran Cono) that was built within a summit caldera (Mount Somma). The Somma-Vesuvius complex has formed over the last 25,000 years by means of a sequence of eruptions of variable explosiveness, ranging from the quiet lava outpourings that characterized much of the latest activity (for example from 1881 to 1899 and from 1926 to 1930) to the explosive Plinian eruptions, including the one that destroyed Pompeii and killed thousands of people in 79 A.D. At least seven Plinian eruptions have been identified in the eruptive history of Somma-Vesuvius (1). Each was preceded by a long period of stillness, which in the case of the 79 A.D. eruption lasted about 700 years. These eruptions were fed by viscous water-rich phonotitic to tephritic phonolitic magmas that appear to have differentiated in shallow crustal conditions. They are believed to have slowly filled a reservoir where differentiation was driven by compositional convection. A minimum depth of about 3 km was inferred for the top of the magmatic reservoir from mineral equilibria of metamorphic carbonate ejecta (2). Fluid inclusions ([CO.sub.2] and [H.sub.2]O-[CO.sub.2]) in clinopyroxenes from cumulate and nodules indicate a trapping pressure of 1.0 to 2.5 kbar at about 1200 [degrees]C, suggesting that these minerals crystallized at depths of 4 to 10 km (3). The differentiated magma fraction was about 30% of the total magma in the reservoir, and a volume of about 2 to 3 [km.sup.3] was inferred for the reservoir (4). The magma ascent to the surface occurred through a conduit of possibly 70 to 100 m in diameter (5). A thermal model predicts that such a reservoir should contain a core of partially molten magma (6) that can be detected by high-resolution seismic tomography. The earliest outcropping volcanic deposits date back to about 25,000 years ago. The lavas observed at a -1125 m bore-hole are about 0,3-0,5 million years old. It is known for the first eruption of which an eyewitness account is preserved, in 79 AD. Geologically, Vesuvio is unique for its unusual versatility. Its activity ranging from Hawaiian-style release of liquid lava, fountaining and lava lakes, over Strombolian and Vulcanian activity to violently explosive, plinian events that produce pyroclastic flows and surges. Vesuvius is a complex volcano. A complex volcano is an extensive assemblage of spatially, temporally, and genetically related major and minor [volcanic] centers with there associated lava flows and pyroclastic flows. Vesuvius has a long history. The oldest dated rock from the volcano is about 300,000 years old. It was collected from a well drilled near the volcano and was probably part of the Somma volcano. After Somma collapsed about 17,000 years ago, Vesuvius began to form. Four types of eruption have been documented: a) Plinian (AD 79, Pompeii type) events with widespread air fall and major pyroclastic surges and flows; b) sub-Plinian to Plinian, more moderately sized eruptions (AD 472, 1631) with heavy tephra falls around the volcano and pyroclastic flows and surges; c) small to medium-sized, Strombolian to Vulcanian eruptions (numerous events during the 1631-1944 cycle, such as 1906 and 1944) with local heavy tephra falls and major lava flows and small pyroclastic avalanches res tricted to the active cone itself. The fourth type it is the smallest of all eruption types observed at Vesuvio. It is the persistent Strombolian to Hawaiian style eruption that characterizes almost all of an eruptive sub-cycle, such as was the case during the period 1913-1944. Activity of this kind is mainly restricted to the central crater where one or more intracrateral cones form, and to the sides of the cone. Lava flows from the summit crater or from the sub terminal vents extend beyond the cone's base. A somewhat particular kind of persistent activity is the slow release of large amounts of lava from sub terminal fractures to form thick piles of lava with little lateral extension, such

Auditing for Good Analytical Research

The accounting methodology is as old as most of our basic mathematics that we practice in our daily life. Its importance has played a key role in the financial industry ever since the era of banking industry had commenced. From the past till today accounting is often reflected as auditing for a huge amount of ransom, assets and any other entity which add value to an individual or organization.   With the heavy involvement of the financial industry, thus, it is essential for accounting to integrated policies, standards, protocols and other ethics to have better control of practices with high integrity which classifies into a single term, internal control. Referring to the above quote, the author`s view of internal accounting control may seem to provide more favourable arguments rather than against. But no ideology can be perfect. Firstly, this essay will contribute a fair illustration of the relationship between strong accounting system and legal practices. Then, the importance of t he existence of internal controls. Lastly, it will instigate the beneficial and loosing arguments of internal accounting controls referring to the best practice preferred by the organization. Internal control can be described as a process through which the organizations are able to coordinate the activities and put a bar on the fraudulent activities by the management, as well as the employees (KSU, 2016). For an effective planning, as well as control it is essential to have a well-defined internal control mechanism that will trace the deficiencies and bring transparency in the working. The element of internal control is assessed during the planning stage of the audit of a financial statement (Gilbert et. al, 2005). The outcome of the impact is directly in tune to the auditor’s stage of testing in detail.   To lessen detailed testing, the organization needs to have a strong system of an internal control. Internal controls are part and parcel of organization policies that pertains to finance and business. It comprises of all the actions undertaken by the management for the safeguard of the resources in terms of waste, fraud, and efficiency (KSU, 2016). Secondly, it helps in bringing accuracy, as well as reliability in accounting and operation of data. Thirdly, it enables a strong compliance with the regulations set by the organization (Hoffelder, 2012). Lastly, it helps in assessment of the performance of all the units of the organization. Internal control is simply a good practice that steers the business in an ethical manner. The internal control system is put into practice by the management or the ones who are entrusted with the duty of ensuring strong governance. It ensures that the compliance is done in terms of rules and regulations (Schaeffer, 2006). Moreover, it leads to efficiency in terms of operational efficiency. This can be possible when the internal control system is put into implementation through elements or subsystems and are termed as the components of an internal control system. It has five major components: This simply means a well-equipped environment of the entity where the operations of the business happen. A controlled environment enables strong control and keeps the wrong practices at bay. For example, if the organization is authentic and strict towards the false practices then the employees will fear in any kind of falsehood. This will ensure commitment and keep the fraud away (Manoharan, 2011).   Moreover, an auditor needs to have a proper understanding of the environment and determine whether it is implemented by the management and the behavior. One of the major roles of internal control is to trace and rectify the misstatements. Further, it needs to be noted that management will not wait for the happening of the misstatement rather it will find a measure to detect and correct it (Ingram, 2016). The entity develops the process of risk assessment that helps in identification of the material misstatement (ACCA, 2016). The auditor obtains a clear notion of how the process of risk evaluation process is working and whether it is shedding light on the risks that are expected, the influence of such a risk, an event of happening of such a risk and decision that pertains to such a risk (Harrington, 2003). Information has assumed a vital place in the space of business environment. When an audit engagement happens, an auditor adds to his understanding of the information, as well as a system of communication that is one of the elements of the accounting system (Ingram, 2016).   But, it is not always alike as the accounting system. It I described as the system through which the management develops a link with the internal and external environment. Controls are mechanisms that are implemented by the management to ensure that the financial information is reliable. An apt example is that of the debtors that cannot be written off without the consent of the finance director or any other relevant person. In a similar scenario, credit sales cannot be done until a recommendation is taken from the credit control department (Schaeffer, 2006). Such activities do not constitute authorization.   A need to enter the password in certain modules of an information system is a classic example of the information system. The last element of an internal control system is the process of monitoring. It can be treated as a service that is inbuilt to the system of internal control and evaluates the skills of an internal control system. The process of monitoring is done by evaluating the internal control operation that pertains to the current period and assessments that are separate in nature that includes routine and non-routine checks (Christensen, 2011). Such an evaluation requires external information like the feedback of the customer. Hence, the ones who are entrusted with the responsibility of governance take an appropriate step so that any risk or material misstatement is warded off with ease and flexibility. Internal control system will lessen the amount of audit work and this will have a positive impact because the auditors will be able to use system based audit that will enhance the level of audit work. Moreover, the presence of a strong internal control mechanism reduces the chances of frauds, as well as errors and will bring new supervision (ACCA, 2016). This will accelerate custody and the third party liability will be minimized bringing a great deal of speed and accuracy. Secondly, internal control lessens the audit evidence that needs to be produced as it enhances the audit evidence to be present within the business. This helps to frame a view that leads to speed and evidence (ACCA, 2016). Moreover, the presence of this control system solidifies the audit evidence that needs to be gathered. It reduces the work overload and reduces the time that is needed to prepare a report (Kruger, 2015). Last but not the least it provides a strong internal function that enables the auditor to focus more on the problem and facilitate the work. Further, it facilitates the company’s assets. The presence of internal control might lead to error and fraud because at times the major reliance is on the strength of internal control and this exposes the auditor to the liabilities that is civil in nature. Secondly, the presence of internal control lessens the volume of scrutiny that needs to be done by the auditor leading to smaller samples hence, leaving another area prone to fraud and problems.   Collusion, as well as manipulation might lead to mismanagement and hence, a biased report might occur. Further, the vigilance of an auditor is reduced owing to the internal control and hence, impacts the audit quality. It has the chances of being abused by the internal auditor through collision with the management. Gamers Den is situated in Cambridge (United States) and has a huge selection of games. It is strongly involved in providing an environment that is safe and friendly for the community at large. People can come and play their favourite games. The availability of a dedicated area makes it one of the best places to be in. Many events are even conducted that that attracts and accommodates various players. This keeps the store busy. Further, the presence of less number of employees makes it less complicated. The current internal control mechanism of the gamer den is straightforward. Two game designers are involved in the process that is designed, as well as promotion. On the other hand, two main assistants are present that is Phil and Amy and another employee is ELLA. The policies that the company follows are weak in terms of an internal control. During the hours of business, an amount of less than 50$ can be withdrawn from the cash register. Credit sales are available with a defined time period and according to the customer comfort that is weak in nature. Further, a single cash register is present that lacks all the entries and physical stock counting I unavailable. Moreover, a problem with the physical counting of the stock has appeared. Therefore, cash is collected and remains in the office till a person deposits it to a bank. Further staffs have an access to borrow iPad, laptops, etc. and there is no trace of the current items. A strong system that needs to be developed for Gamers Den will require a proper number of stuff. When the number of employees will be more, the work responsibility will be divided that will lessen the pressure (Lapsley, 2012). Further, the internal control must be structured in a manner that will lead to proper allocation of person who can shoulder the responsibility. In the present system, there is no availability of financial records and information lacks reliability. The accounting control will be a boon to the business. The system of accounting control will help the organization in many ways (Kaplan, 2011). The system of inventory will be maintained in a proper manner, before the issue of stock the authorization and approval will be needed. Further, budgetary control will aid the organization that will enhance the profit with the sales volume. The review of assets will be easier and hence, variances can be traced. The above report provides a clear cut indication that internal control is vital in the smooth running of the organization. It leads to a strong control over the activities that is not witnessed in an organization that lacks internal control. Therefore, internal control brings a wide variety of advantages that helps in steering the business. This leads to a strong momentum and helps the organization as a whole. When internal control is into practice it leads to an enhanced level of accountability and responsibility. ACCA 2016, Audit working papers, viewed 15 October 2016 https://www.accaglobal.com/in/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/technical-articles/effective-audit-service.html ACCA 2016, The new Auditor report, viewed 15 October 2016 https://www.accaglobal.com/in/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/technical-articles/auditor-report.html ACCA 2016, F8 Audit and Assurance aims and update, viewed 15 October 2016   https://www.accaglobal.com/ie/en/student/exam-support-resources/fundamentals-exams-study-resources/f8.html Christensen, J. 2011, ‘Good analytical research,’ European Accounting Review, vol. 20, no. 1, pp. 41-51 Gilbert, W. Joseph J and Terry J. E 2005, The Use of Control Self-Assessment by Independent Auditors, The CPA Journal, vol.3, pp. 66-92 Harrington N 2003,   Risk Management & Insurance, McGraw- Hill Education (I) Ltd. Hoffelder, K 2012, New Audit Standard Encourages More Talking, Harvard Press. Ingram, D 2016, What Are the Seven Internal Control Procedures in Accounting?, viewed 15 October, 2016, https://smallbusiness.chron.com/seven-internal-control-procedures-accounting-76070.html Kaplan, R.S. 2011, Accounting scholarship that advances professional knowledge and practice, The Accounting Review, vol. 86, no. 2, pp.   367–383. Kruger, P 2015, Corporate goodness and shareholder wealth, Journal of Financial economics, pp. 304-329 KSU 2016, Internal Audit, viewed 15 October 2016 https://www.k-state.edu/internalaudit/internal-controls/ Lapsley, I. 2012, Commentary: Financial Accountability & Management, Qualitative Research in Accounting & Management, vol. 9, no. 3, pp. 291-292. Manoharan, T.N. 2011, Financial Statement Fraud and Corporate Governance,   The George Washington University. Schaeffer,M 2006, Internal control breakdown study, viewed 15 October 2016 https://www.aicpastore.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2009/CorpFin/IntControls_Breakdown.jsp Getting academic assistance from