Recruitment, selection, and retention challenges Essay

Recruitment, selection, and retention challenges - Essay Example f mismatch between job description and job requirement, the organization might be forced to cancel the recruitment results and conduct fresh recruitment. The organization might also decide to train the employee to make sure he/she can carry out the duties associated with that job requirement. Most organization use job interviews and resumes to get information about job applicants. Technology may be used to conduct job interviews via live video conferencing (Billsberry, 2007). It is important to ensure that the organization selects a job applicant who will feel comfortable and will be successful. This can be achieved if you assess your organizations culture, define the candidate you are looking for and taking time to learn about the applicants working style and personality. Managers need to select candidates based on occupational qualifications. The selected applicant should possess the necessary skills required to be successful when carrying out the requirements of the job. The law prohibits any form of discrimination during the recruitment process. It is illegal to discriminate against sex, age, marital status, ethnicity or religious affiliation (Billsberry,

Terror Threat Assessment in France Essay Example | Topics and Well Written Essays - 1000 words - 2

Terror Threat Assessment in France - Essay Example Having colonized Algeria in the 19th century – the country later gained its independence in 1962 – there remained a significant Algerian and Muslim population residing within France’s suburban ghettos (Crumley). During the beginning of the 1990s Islamic Terrorist organizations tapped into this Arab population – roughly 5 million living in France – and established connections between them and Osama Bin Laden in Afghanistan (Crumley). While the Islamic organizations are the predominant terrorist impulses within French society, there remains and a consistent threat from a multitude of groups that have been directly tied to France’s North African empire (Greenway 2009) . The most prominent of these terrorist organizations are the Armed Islamic Group (GIA). They are an Algerian terrorist group that has direct connections to Osama Bin Laden, having participated directly beside him in his anti-Jihad during the war against the Soviet Union. After the war ended they settled in France seeking to enact terror on the French government for their support of the Algerian government (Crumley). One of the major incidents regarding this terrorist organization occurred in 1995 when they planted a bomb in a prominent French location and were successful in killing 8 citizens and wounding an astonishing 150. Other incidents include a series of sporadic car bombings throughout the mid-1990s, and an attempted 1998 bombing at the soccer World Cup (Greenway 2009). When considering the extent to which these terrorist threats remain a common occurrence in France, one has to examine the extent to which the French government has enacted strict laws to prevent any such occurrence. After the mid-1990’s attacks the French developed a sophisticated intelligence network designed to monitor future terrorist activity. Perhaps the most significant occurrence, however, was the French enactment of all-encompassing laws regarding terrorism and those connected to it.

Tourism Impact On Bali

Tourism Impact On Bali Tourism has long being considered as one of the biggest incomes for Indonesia. Rich cultural diversity and the natural beauty of the lands is the main tourism attraction. The country realize their potential and try to promote it internationally, especially to neighboring countries such as; Malaysia, Singapore and Australia. Other than the natural and cultural attraction, Indonesia is considered have a strategic location for business development. With millions of natural resources available in the country. Indonesia can attract business tourists to come and visit the country. However the Bali bombing in 2002 makes the international tourist to be alerted and therefore damaging to the Indonesia tourist industry. Since then, the trauma of the Bali bombing continues to haunt the visitors. The heavy drugs laws and death penalty as the worst punishment will also frighten and deter the visitors that come to Indonesia. The report below will explain the impact of Bali tourism on Indonesia econ omic and demographic factors. Furthermore it will analyze how the Bali bombing and harsh law will affect tourist decision when visiting Indonesia. Historical account of Tourism and Bali Rich local culture, great food, shopping, arts and craft and pulsating nightlife is some of the factor that makes Bali an interesting destination for Australian tourist (Bayes, 2007). Other than several reasons mentioned above, great surfing spot also have a significant role in luring the tourist to come to Bali. In addition; cheap prices of accommodation and services in Indonesia also supporting the tourist decision when visiting the island. Large amount of tourist that arrives in Bali will increase the economic growth in the island even before they arrive in Bali; by paying the tax. The development of tourism sector will also affect the development of the infrastructure in Bali. The tourism and hospitality facility will absorb numerous workforces and will create a number of available jobs in Bali. Furthermore, Bali GDP has increased by 10% from 2010 to 2011 and its recorded as 6.49% growth in regional GDP. Amongst the increase; service, trading, hotel and restaurant is up by 18.62% (Balivillaholydays, 2012). Statistical information Total foreign tourist arrivals to Bali in May 2012 hit 215,868 indicating a farther rise than May 2011 (204,489). On a cumulative basis, Bali foreign tourist arrivals for January through May 2012 1,131,462 demonstrating growth of 9.71% over the same period last year with 1,031,316 foreign tourists. http://www.balidiscovery.com/images/827/graff1.jpg www.balidiscovery.com Now five months into the year, Bali can now project more than 3 million foreign tourists for all of 2012. Bali should maintains its current year-to-date of growth at 9.71% through to the end of the year. The performance from major source markets that arrived in Bali on January-May 2008-2012 showed the biggest amount of tourists is from Australia. Australian tourists continue to visit Bali with month-on-month arrivals up 9.3% at 61,266 for the month of May 2012. While this is a respectable growth, Australias ability to generate double digit improvement in arrivals month after month maybe ending. From 2011 to 2012, Australian arrivals for the first five month of the year changed by 10.37%. If the rate of growth is sustained, the numbers of Australian tourist will stay up for the entire year. http://www.balidiscovery.com/images/827/graff2.jpg www.balidiscovery.com There are two big issue in Bali that affected Australian people greatly; The Bali bombing and Schapelle Corby cases. The Bali bombing happened on 12th October 2002 and its categorized as an international incident; as the death toll is effected many nationalities. The incident destroyed 400 buildings and injured 300 people, the final death toll was 202 bodies and most of them from Australia (Henderson, 2003). deaths by nation http://maximosweb.com/2011/12/04/terrorism-and-poverty/ Moreover, the incident leave deep trauma to any tourist at the time, and greatly reduces the quantity of tourist coming to Bali. bali numbers http://maximosweb.com/2011/12/04/terrorism-and-poverty/ The graph shows the demand of tourists arrivals to Bali slumped dramatically following Bali bombing. In September 2002 the foreign arrivals to Bali stood at 15,747. In November, it dropped down to 31,498 arrivals. Indonesias Center Statistics Agency spokesperson, Sudarti Surbakti observed that The decline is a continued impact of various shock of occurring in late 2002 and early-to-mid 2003 (Russell Darnley, 2011). Schapelle Corby is an Australian citizen that has been convicted and imprisoned for 20 years because of drug smuggling. The case is biased because Corby claimed that she knows nothing about the drugs that were kept in her possession. The effect of Corby being in custody; include the sentiment of the Australian to Bali, which lead to a boycott threat. The boycott has labeled Indonesian Justice as corrupt and it will leave a bad impression any visitors to Bali or any other destination in Indonesia (Lindstrom, 2005). Account of the current situation Even terrorism death penalty or Australians imprisoned make the images of Bali turn negative. Australians still spend money to visit this island and the amount of tourist year by year are still growing, giving a clear understanding of the question why Bali remains a good choice of Australians holiday destination in this current time. Firstly, the landscape of natural scenery and uniqueness of culture still attract Australian tourists and also give plenty of activities for them to do on their holiday such as swimming, surfing and snorkeling are the most preferred actions in Bali. Enjoying nature and tropical climate are the next preferred attractions. Interestingly, religious ceremonies sites and Balinese villages are also considered attractive by Australian tourists than before. Secondly, Bali Island offers affordable and acceptable prices to foreign tourists all over the world including Australians of all ages. The good value for money becomes a second reason for tourists to decide to travel in Bali. This also maybe because of a big difference of exchange currency rate of Australian dollars to Rupiah makes Bali an affordable and cheap holiday destination for Australians. On the other hand, the fear of terrorism is the biggest factor that makes Australians feel insecure and avoid visiting Bali. This also may become an important consideration for Australians before making a decision to travel to Bali. Anyway, the rate of Australians travelling to Bali increase year by year and this fact was supported by the graph above (Bali major source markets January-May 2012). Conclusion As the result, Bali is the most attractive destination for tourists and especially for Australian tourists. The main attractions; including natural beauty, traditional culture and affordable prices emphasize the reason why Bali is the most popular destination in the world. Even though the terrorism has affected the image of Bali in a negative way, the tourists still interested in travelling to Bali as the positive out way the negative reason. Dr. Hill said Tourism is one of the fastest growing sectors globally and Bali has already established itself on the map (Dr. Hal Hill, 2012). This fact has confirmed the status of Bali which continues to grow in relation to a perfect destination.

Can the Source of Aggression be Found in the Brain? :: Biology Essays Research Papers

Can the Source of Aggression be Found in the Brain? In Holland, male members of a certain family were found to be prone to violent outbursts; one male, criticized by his employer, attempted to run him over with a car - another raped his sister and was sent to a mental hospital - a third coerced his sister into undressing by threatening her with a knife. Such men display retarded motor development, difficulties in task planning, and awkward sexual behavior. (1). Recently, researchers claimed to have found the basis of such aggressive behavior to genetic sources - specifically, a deficiency in the MAOA gene of these males (2). In Finland, studies were conducted on males who also displayed uncontrollable behavior, and the findings demonstrated that the men possessed a neurotransmitter substance deficiency, particularly in the messenger serotonin (3). This lack of serotonin has been linked to aggressive behavior: some violent prone individuals did not effectively break down these substances All around the globe, people have attempted to find an organic, genetic basis for aggressive behavior. Several hormones and neurotransmitters, such as testosterone and seretonin, have been implicated in the "aggression quest", as well as specific localities of the human brain. My paper will serve to suggest that although many findings have shown impressive results regarding possible biological causes of violent behavior, we still do not have sufficient means to understand the neuroanatomical or biochemical basis of aggression. Neurotransmitters have been suggested as a significant cause of aggressive behavior. Hans Brunner, a geneticist at the University Hospital in Nijmegen, has found that the violent male members of the Dutch family mentioned earlier in this paper, lacked a gene that produces monoamine oxidase-a (MAOA) (4). MAOA is an enzyme that breaks down significant transmitters in the brain. If the MAOA does not break down these transmitters - specifically, serotonin - then buildup of serotonin will occur and could cause a person to act violently (3). However, it is interesting how contradictory the finding is to several other claims. Studies have shown that serotonin, in normal levels, exerts a calming, inhibitory effect on neuronal firing (5) and that, in low levels of serotonin, aggressive and impulse behaviors increase (6).This contradicts the previous claim that a built-up, or high levels of serotonin caused by the MAOA mutation, causes violent behavior. Furthermore, the claim regarding the specificity of serotonin to aggression can be analogous to a small fish in a big pond.

Explain why the duke of Wellington’s government fell from power in 1830? Essay

The fall of duke Wellington’s government in November 1830 is regarded as one of the most important turning point and a very pivotal moment in British history. So decisive and seemingly unexpected, was the downward turn in the duke’s political fortune and his government, meant is was caused by an array of reasons. From the standpoint of the 2 major parties, the political stature of Britain was quite weak. As a result of arguments and internal splits within the government, the tory party for the first time in many years had become apart of the minority. The small liberal wing of the tory party, the canningities had left in 1828 after a series of disagreements with the Wellington, whereas the Ultra’s, who were loyal to Wellington and Peel, left the Tory party mainly because the of the passing of catholic emancipation in 1829. Another issue that caused the disintegration of Wellington’s Tory party was not only just catholic emancipation, but also the fact that the duke and peel had to announce it. The Act of C.E was passed in April 1829, with a total of 173 Tory MPs against it. The ultra Tories believed that Catholic emancipation was an assault on the British Constitution, Although many Tories sympathised with Peel, they hated Wellington for falling to catholic pressure and judged him as misguided, or even two faced because he had always been a opponent to Catholic Emancipation. There was also widespread opposition in the country at large, because many in many cities like Liverpool and Manchester, there were many immigrants. This not only fractured Wellington’s capability as leader, but his government as well because the Tory party was now split 3 ways: the canningities soon to be allied with the Whigs, and also the separate faction of ultra’s who felt betrayed by Wellington. But one of the key factors that essentially solidified end of the Wellington’s government, was the speech that he read out in the New parliament meeting of November 1830. In trying to win support from the ultras, he made a speech in which he said he saw no need to consider and change in the current parliamentary system, an opinion rarely shared by other, This can be argued as one of the worst political â€Å"own goals† in British History as he clearly missed the mood of the moment, as there was genuinely a big concern over parliamentary reform. Wellington’s argument seemed entirely wrong almost to the point of stupidity as there was immense support towards parliamentary reform from both inside and outside parliament. Another issue that pushed Wellington’s government to the brink, was the ever growing power of the Whig party. The Whigs were now pushing for parliamentary reform and they were now more stronger and more confident. They had support of the canningites, who were experienced in parliament and the support of the new King William IV, they had a monarch who was not opposed to them like King George the IV had been. Some ultra tories who felt betrayed by Peel and Wellington united with the Whigs and Canningities to defeat the government. By 1827- 30, the divisions within the Wellington’s government had become to severe, the various arguments between factions limited it’s political aims and capability. The Whigs had a big part to play in further fracturing Wellington’s government through it’s alliances with the canningities and the ultras, so inevitably had a big part to play in the demise off Wellington’s government. How close to revolution did Britain come in 1830-32? A revolution can be defined as a drastic and far reaching change in a country’s way of thinking and behaviour. It is usually due to the fact that political change fails to respond to social or economic distress. In Britain, The growing pressure to change an unrepresentative electoral system was strengthened by the deteriorating economy. Against a backdrop of poor harvests, rising rates of unemployment and revival of radical demands for reform – it could argued that at face value, Britain extremely close to revolution from the years of 1830 to 1832. An issue that helped in pushing Britain to the brink of revolution was the crisis caused by the harvest failure, high prices and unemployment. These were some of the many issues which cause unrest within the countryside, as their was protests ranging from the destruction of machinery to the burning of corn. So the swing riots of 1830-1831 had begun. The significance of the agricultural disaster of 1830 and the swing riots, is that is can be argued as one of the initial steps which caused the rebellious and revolutionary attitudes of the people of Britain to grow. A crucial issue that almost caused a revolutionary climate in Britain between 1830-32 was the issue of parliamentary reform. Although changes had been made, like redistributing seats to more industrially centred places like Manchester and Leeds, so giving the middle class factory owners more political power and significance, the fact remained that house of Lords and the government as a whole, was still saturated with Aristocracy. The public were being let down and felt that the house of lords was clearly out of touch with the working and middle classes’ wishes, and example of this was the rejection of the second reform bill by the Lords in 1831, which caused widespread anger throughout the country. Although many groups and coalitions were formed to support the great reform act, one of the most notable political societies’ was the Birmingham Political union. The need for change, and so revolution can be clearly seen in formation of this union, as a crowd of over 15,000 arrived on it’s first meeting. It was inspired by the works of the Catholic Association in attracting mass membership and being well organised, without any form of violence. To gain support, The BPU’s polices were mainly targeted at middle and working classes, but there were other important coalitions like the MPU (Metropolitan Political Union) which was dominated by artisans and craftsman, who had be radicals in the years of 1819. Ultimately, the union of these various craftsmen, businessmen, lawyers and workers increased the tensions and sense of uneasiness with the government, so once again spurs the idea that Britain was edging closer to revolution. As well as pressure from the BPU, Francis Plaice made London the central place of opposition of the Lords, but not the Whigs. Whereas elsewhere by 1832, there were cases of violent protests which appeared throughout the country. Riots spread from the small rural areas to the large industrial towns, as the tensions concerning reforms increased drastically. One extreme case of rioting was in Bristol, when a violent mob burned down almost all of there town centre. All these different forms of protest suggest that, revolutionary circumstances like the overthrowing of Charles X in France or the demolition of Tsar in Russia, was rapidly becoming an inevitability in Britain. Arguably the only thing that prevented full scale revolution was the desire of the Whig party and there newly elected leader lord grey’s partial support towards reform, and efforts in turning violent protests into † safe and legitimate reform.† However there were major political issues that suggested that, Britain wouldn’t have a revolution just yet, unlike it’s neighbour France. Since the late 1770’s the Lord grey had handled issues over parliamentary reform, but in 1831 he finally got his moment. Although the Whigs only partially supported the idea of parliamentary reform, Earl grey was enough of a politician to realise that in the defeat of the first 2 bills and public disturbances, some change will be needed to mediate the situation. A quote for Grey states that † The principle of my reform is to prevent the need for revolution†. Grey was very aware of the public’s opinion and knew that situation would only get worse if they were inhibited any form of change. Grey motives were clear from the start as his idea of â€Å"reforming to change† was faà ¯Ã‚ ¿Ã‚ ½ade to stop Britain becoming a democratic country, and so helped prevent a revolution. Although the Whig party still headed for aristocracy and believed that the amount of property was the basis for representation, the small amount of change or daresay â€Å"reform† allowed them stop further rebellions and prevent Britain disintegrating, and also helped the poor and working classes. Redistribution was vital in preventing the working classes from rebelling, as they could take seats from seemly useless places like Old Sarum and Dunich to newly industrialising cities. The Whigs wanted to protect aristocracy, but firmly believed that to strengthen the constitution they had to give the franchise to people with new forms of property and intelligence, which meant that middle class factory owners could now sit as an MP and vote. There were other changes which allowed the Whigs to control the situation with the public, and so prevent a revolution, this included 31 small boroughs losing half their Mps and also mean that boroughs of less than 2000 votes were totally disfra nchised. Britain was going through bleak times with a deteriorating economy and unemployment rate, and prominent cases of radicalism and violence. The public were being let down and felt that the house of lords was clearly out of touch with the working and middle classes’ wishes: all these factors contributed to the urgent need of political reform, suggesting that to a certain extent that revolution was quite close, if the situation was left not dealt with any longer it probably would have occurred. However It must be said that Grey was speaking the truth when he said the bill was an aristocratic measure that was introduced to prevent the need for revolution. He was very clever in his methods of introducing a small amount of change to delay revolution, and restore order to Britain. Ultimately, aspects of the Whig party ensured that revolution could occur, on the face of it, it shows that they changed the political map forever, but in truth it was a limited, but clever change to preserve there current constitution. So in conclusion, I must say that although to a certain extent Britain had come close to a revolution, but the actions of grey and his Whig party in preventing revolution, meant that that to a slightly further extent Britain had not come close to a revolution.

How Influential K-Pop is to Filipino Teenagers Essay

Acknowledgement This research would not have been finished without the help of the following  people: To the Researcher’s parents, Mr. Benjamin Tadeja and Mrs. Loreta Delos Santos, thank you for being a constant support. To the Researchers professor, Mrs. Bethany Marie Lumabi For giving advices and constantly correcting our errors in order to make this research a success. Most especially to Our Lord above, thank you for all the blessings you’ve passed our way. Chapter 1: Introduction â€Å"Music does bring people together. It allows us to experience the same emotions. People everywhere are the same in heart and spirit. No matter what language we speak, what color we are, the form of our politics or the expression of our love and our faith, music proves: We are the same.† -John Denver Music is a big part of everybody’s lives. It’s basically one of the things we do or listen to when we feel certain emotions such as happiness, sadness or even anger. Every country has their own music, its part of their culture whether it is used on religion or just plain entertainment. But for now, we will focus on a certain type of music that became one of the most influential music of today, Korean Music or simply K-Pop. In Rolling Stone Magazine, a magazine that focuses on music, popular culture and politics defined K-Pop as a mixture of trendy Western music and high-energy Japanese pop (J-Pop), which preys on listeners’ heads with repeated hooks, somet imes in English. It embraces genre fusion with both singing and rap, and emphasizes performance and strong visuals. (Rolling Stone) In Wikipedia, K-Pop Music was defined as a musical genre originating in South Korea that is characterized by a wide variety of audiovisual elements. Today, Korean Music became one of the most listened songs of teenagers around the world whether the language of a country or the language that is being sung in all K-Pop video is different, it doesn’t matter. But where did it all start? The history of Korean pop music is not very old. It can be traced back to 1885 when an American missionary, Henry Appenzeller started teaching American and British folk songs at a school. These songs were called changga in Korean, and they were typically based on a popular Western melody sung with Korean lyrics. The well-known song â€Å"Oh My Darling, Clementine† was for example known as â€Å"Simcheongga† (Wikepedia) In 1992, modern K-pop was ushered in with  the formation of Seo Taiji & Boys, whose successful experimentation with different music styles had sparked a paradigm shif t in the music industry of South Korea.. First gaining popularity in East Asia in the late 1990s, K-pop entered the Japanese music market towards the turn of the 21st century. In the late 2000s, it grew from a musical genre into a subculture among teenagers and young adults of East and Southeast Asia. Currently, the spread of K-pop to other regions of the world, via the Korean wave or Hallyu,, is seen in parts of Latin America, Northeast India, North Africa, the Middle East, Eastern Europe and immigrant enclaves of the Western world. (Wikipilipinas.org) K-Pop was born in the Philippines indirectly through the Koreanovelas in 2003. The first Koreannovela was â€Å"Autumn in My Heart† (the first in Endless Love series) aired in GMA 7 to compete with ABS-CBN’s highest rating Chinese-novela, Meteor Garden. Through Endless Love starts the love of Filipinos to Korean Music, like one of endless love’s OST Winter Sonata, performed and remake by Faith Cuneta. During the same year, one of the first Korean music videos in the Philippines was aired on Myx, a local music channel. This is the music video of the Korean female group known as Kiss for their ballad, â€Å"Because I’m A Girl†. Not long after, the music video of Korean singer Mina for her first albu m’s carrier single, â€Å"Answer the Phone† also entered the local music scene. Eventually, in 2004, both of these songs were remade by Roxanne Barcelo in her debut album.’ Because I’m A Girl was made Filipino as Kung Alam Mo Lang, whereas Mina’s Answer the Phone was translated into English retaining its original title. Going back to the television, following the success of Endless Love came in Full House in 2005. Full House also starred the same actress from the first season of Endless Love, Song HyeKyo, who was paired with Korean singer-actor Rain. Rain’s debut in the local television paved way for K-Pop to be more known in the Philippines. Not long after the airing of the said series, his music videos such as I’m Coming and the more recent Love Story started to enter the charts of Myx and local FM stations. Because of the rise of Rain as a singer here in the Philippines, among other reasons, more Filipinos became interested in K-Pop; more Korean singers became known and loved like Girl’s Generation, BoA, and Super Junior. The Philippines is one of the countries which are greatly influenced by Korean Wave or Hallyu ( Alanzalon, 2011). The first Philippine K-pop convention was held in PICC last 2009 which was  attended by more than two thousand K-pop fans. By tapping into social networking services and the video sharing platform YouTube, the K-pop industry’s ability to secure a sizable overseas audience has facilitated a noticeable rise in the global proliferation of the genre. Since the mid-2000s, the K-pop music market has experienced double digit growth rates. In the first half of 2012, it grossed nearly US$3.4 billion and was recognized by Time magazine as â€Å"South Korea’s Greatest Export†. But in the midst of all the good things that K-Pop gained in the past years, there would always be a development of bad things, and as K-pop grew in popularity around the world, critics shows and find the bad things that Korean music brought to others whether it’s in people or in their culture. Throughout the years, the Korean pop culture has grown into popularity for many teenagers and adult s alike. In fact in many regions of Asia, notably China, and Japan and almost the entire region of South-East Asia, the popularity of K-Pop has become so extensive that authorities and nationalist fear that it is leading to a xenocentric preference for Korean styles and ideas. And today, we witness the gargantuan amount of K-Pop merchandise adorning the shelves of shops and hundreds of thousands of Filipino teenagers and other adolescent individuals spending a substantial amount of their money on buying such merchandise, purchasing their favorite stars/singers album and not to mention concert tickets, the cheapest are which are usually enough money to buy a high technology high phone or even more essential stuff that can be of used for example a K-Pop group called B1A4 sells their general admission tickets for 9450 pesos (SM Tickets). Why are these teenagers so willing to spend their so earned money or if they’re not working their parent’s hard earned money just for these K-Pop figures? What are the positive and negative impacts of being so captured by this phenomenon? Another problem arises like, how Korean music basically stole the interest of people on their own music; they forget patriotism, Music authorities here in the Philippines are getting worried for the increasing popularity of K-Pop, not only that the sales of Pinoy (P-pop) songs are decreasing, as years past, people started listening more to foreign songs and they don’t enjoy Filipino music anymore. People who like Korean music get addicted so much that they changed their lifestyle to be more incorporated to their k-pop idol. As a psychologist, I was curious as to why this problem arises? Is there an  effect to teenagers if they listen to such kind of music? This research aims to give information on the experiences of K-pop fans , to whom and where do they express their fandom, how do they express their fandom and what influenced their fandom. Statement of the Problem This study intends to determine the Influence of Korean music (K-Pop) to Flipino Teenagers. Specifically, this research intends to answer the following questions: Why do Filipino Teenagers like K-Pop? Why does Filipino Teenagers get addicted to K-Pop? How does Korean Music (K-Pop) influence Filipino Teenagers? How can Music Authorities influence Filipino Teenagers to patronize OPM? Objectives of the Study This Research intends to accomplish the following: To identify why Filipino Teenagers like K-Pop. To know why Filipino Teenagers get addicted to K-Pop To suggest some things that can be of used to promote Patriotism Scope and Limitation This research focused on how influential Korean music is to Filipino Teenagers. Also this study focuses only on K-Pop music and the respondents are Filipino Teenagers whose ages are 13 years old up to 19 years old only. This research uses only an informal survey. The maximum respondents are ten persons only and studies around Metro Manila. The respondents have the right not to say their name but the age must be specifically announced and also the suggestion on how they wanted to promote patriotism are purely opinionated. Definition of Terms Addiction: the fact or condition of being addicted to a particular substance, thing, or activity. Changga- translated forms of American and British Folk songs in Korean lyrics Fandom- (consisting of fan [fanatic] plus the suffix -dom, as in kingdom) is a term used to refer to a subculture composed of fans characterized by a feeling of empathy and camaraderie with others who share a common interest. K-Pop- a musical genre originating in South Korea that is characterized by a wide variety of audiovisual elements. †¦ Koreanovela- k-drama for short, refers to televised dramas, in a miniseries format, produced in South Korea. Korean Wave- or Hallyu refers to the sudden increase in popularity of South Korean culture around the world Teenagers- a person aged from 13 to 19 years. Patriotism- cultural attachment to one’s homeland or devotion to one’s country, Xenocentric- refers to the preference for the products, styles, or ideas of someone else’s culture rather than of one’s own.

Mexico Essays (901 words) - Mexico, Aztec, Mexican Art, Mexicans

Mexico Essays (901 words) - Mexico, Aztec, Mexican Art, Mexicans Mexico Mexico is our neighbor to the south. The United States was once part of Mexico. The country is a place for tourism and vacations for us. For the Mexicans, its home. They live different lives then us. Near the year 7000 B.C., Indians learned to grow plants for food. In time they were able to settle in villages. Those villages grew into towns. During the years 250 to 900 A.D. , the Indians lived in the Classic Period in Mexican history. During the time, the Mayas built huge pyramids and temples. They developed Mathematics and studied astronomy. The Zapotecas flattened a mountain top and built a temple. They also wrote the first written records in the region. The Aztecs built the greatest civilization in the years 1400. They had a capital named Tenochtitlan. Tenochtitlan is now Mexico City. The Aztecs had a powerful emperor named Montezuma II. In February 1519, a Spaniard named Hernando Cortes founded the city Veracruz for Spain. He then marched towards Tenochtitlan and seized Montezuma. The Aztecs revolted and forced the Spaniards out of Tenochtitlan. Two years later, Cortes returned to the city and conquered Tenochtitlan. Cuauhtemoc, the last Aztec emperor, was tortured. He is now a Mexican hero. Spain now owned Mexico. For less then 300 years Mexico was a Spanish colony. That is why the language of Mexico is Spanish. The Indians were forced to accept the Roman Catholic religion. They Indians mixed the Roman Catholic religion with their own religion. In 1810, a man named Miguel Hidalgo y Costilla , a priest, started a fight for the independence of Mexico. He had many Indians and Mestizos who fought against Spain for him. The Spanish king taxed the people of Mexico for their revolt. Most of the people did not want independence. The Mexicans later won their independence when there were more Mexican fighters then Spanish. In 1821, Mexico became independent. In 1824, Mexico became a republic. In the year 1846-1848, Mexico had a war with The United States. The Americans fought the war because they wanted Mexican land. The Americans won the war and took control of States like California and Texas. In 1917, Mexico adopted a Constitution. In the years 1942-1945 Mexico entered World War II for the Allied Powers. In 1953, women won the right to vote. In 1968, the Summer Olympics were in Mexico City. In 1985, an earthquake in Mexico City killed thousands of Mexicans. One of the most famous Mexican writers was Octavio Paz. He was a poet. In 1990 he became the first Mexican to win a Nobel Prize in literature. He also wrote many political essays about Mexico. Many of his works have been translated into English and are popular among many people. His most famous piece of writing was El Larerinto De La Soledad. A famous Mexican painter was Diego Rivera. He is well known for the murals he painted in Mexico City. His murals were related to Mexican History. He also did murals in the United States, which were about the life of an American. Other painters who painted murals in Mexico were Jose Orozco and David Siqueiros. The Architecture in Mexico City is very artistic because it is full of murals and old ancient ruins. The city is a work of art to many people. It is one of the Art Capitals of the world. Mexican music is very unique. Some instruments used in Mexican music are flutes, marimbas, and guitars. The music is called Folk Dance. La Bamba is a folk dance song, which was made into a rock song by Richie Valens. Many songs of folk dance are performed in the streets of Mexico City and other places. Songs of folk dance are played fast. The dances are very fast too. The most popular sport in Mexico is Soccer. Mexico has a World Cup soccer team that did very good at the 1998 World Cup in France. Jorge Campos is the most popular Mexican player in Mexico. He is the goalie for the World Cup team. He is one of the best goalies in the world. Another popular sport is baseball. Every year there is 1 American Major League baseball game played in Mexico City. Many people go to this game. Mexico

The Handmaids Tale Analysis Essay Example

The Handmaids Tale Analysis Essay Example The Handmaids Tale Analysis Paper The Handmaids Tale Analysis Paper Essay Topic: Literature The Handmaids Tale The science fictions novel of Margaret Atwoods The Handmaids Tale portrays how the Republic of Gilead, a totalitarian state, oppressively rules its people because of the dangerously low birth rate. In the perspective of a Handmaid named Offred, Offreds role in society, bearing children for elite couples, is disagreeable and insignificant to her and only abides with the government to save her neck. The authors style of writing conveys vivid images to the mind of the readers and thus, aids in the understanding of the whole situation as the story progresses. In the extract from page two of chapter two, a manifold of literary elements is used to effectively introduce the main themes and issues of the novel. The use of metaphors and similes, many adjectives and punctuations, references to the Bible, and how the passage is structured as a whole are all key factors to consider in order to comprehend even the vague, but equally significant, connotative definitions of the words the author has specifically chosen to use in this extract. This extract teaches the readers about the narrators lifestyle from the very first paragraph. The biblical reference to nunnery announces metaphorically that time here is measured by bells, as once in nunneries and that as in nunnery, there are few mirrors. The negative connotation of the word nunnery hints the cloistered and systematic lifestyle of a nun, who has only one purpose in life: to be devoted to God, avoid being involved in the materialistic world and push away human desires. Therefore, this biblical reference to nunnerysuggests to the readers that the narrator also lives a careful, abstaining, and restricted life with only one purpose in life. The physical appearance is unimportant and thus, as in a nunnery too, there are few mirrors. In this extract, the name of the narrator nor the narrators one purpose in life in the society is not mentioned. However, later on in the story, it becomes more evident that her role in the society is to give birth as service to her Commander and his wife. As in the first paragraph, the rest of the extract consists of long sentences divided into shorter ones by punctuation marks. Commas are the most common forms of punctuation throughout the whole novel. The punctuation marks create a hesitant atmosphere to the extract which correlates with the narrators unsecure state of mind. The language itself is simple and descriptive. For example, the color of blood, red, is a common adjective used throughout the passage: red shoes, red gloves, red cloak, etc. Red describes the pieces of apparel the narrator is wrapped in. The narrator being fully wrapped from head to toe in red leads the readers to hypothesize that this is the narrators state of being every day: tied up by the laws of the Republic of Gilead which has full authorities to control her life. The strong color of red may be tied with the emotions of anger and rebellion the narrator is experiencing. It is hinted that she doesnt enjoy being in this emotional state as she says that I never looked good in red, its not my color. The color blood which defines us may also define the color of love, true love the narrator may have experienced in the past, and birth/reproduction, the narrators only role in society. Also, the references to this color may have the role of revealing the physical and mental states of the narrator which represent the physical and mental states of the rest of the population oppressed by the the Republic of Gilead. The metaphors concerning the nunnery, the similes, like a path, like a carpet for royalty, it show me the way, like the eye of a fish, and myself in it like a distorted shadow, and towards a moment of carelessness that is the same as danger all help convey vivid images to the readers minds by referring to specific colors. The white wings which symbolize the apparel covering the face of the narrator and the lack of mirrors in the house hinder the act of looking at her physical appearance and looking forward. This fact proves that the physical appearance of a person should no longer be valued among the handmaids and thus, creates a forbidding mood to the passage. Despite the dull and melancholy descriptions made by the narrator, the place in which the narrator walks around is described as a model house: polished hallway, like a path through the forest, like a carpet for royalty, late Victorian, the ancient grandfather clock in the hallway, and a motherly front sitting room in which I never sit, but stand or kneel only. These sentences accentuate the wealth of the family of the house as well as the pitiful state of the handmaid and her low social status. This contrast emphasizes the gap in the social status that exists between the family of the house, and the narrator. Even when the narrator does manage to look into a mirror on the hall wall, the sight is only more depressing: like a distorted shadow, a parody of something, some fairytale figure in red cloak. The distorted shadow adds a grey color to the minds of the readers and thus helps in increasing the gloomy mood. The reference to some fairy tale figure in a red cloak suggests how unreal the narrator is feeling at the moment. This may be due to her reluctance to accept the reality and her longing to return to her past life. The last sentence, a sister, dipped in blood is another biblical reference and also a metaphor which explains how she is red from head to toe as if dipped in blood. There is a sense of exaggeration in this description which is linked to imagery which purposefully aids in the understanding of the readers. The extract begins with alternating descriptions of the narrators surroundings and the narrator herself, and ends with an intensified mood in the last sentence: a sister dipped in blood. The main theme introduced in this extract is Gileads role in society. This totalitarian government is superior towards its people in an excessively oppressive way, and the readers can understand the influences Gilead has on the narrator in the society, physically and mentally. Without directly pinning down the main issue, the author has successfully managed to describe Gileads role and influence in the society in the eye of a handmaid who strongly describes everything in a vigilant and disagreeable manner.

Business Letter Format

Business Letter Format A business letter is a document you send to a reader outside of your organization. A memo is used internally in business. (Memo format.) Here is a standard business letter format model, based on The Business Writer’s Handbook: LETTERHEAD March 22, 201_ (DATE – three lines below the letterhead) Mr. George Vogel (INSIDE ADDRESS – Include the recipient’s name, title, and address, two to six lines below the date, depending on length of letter) Director of Operations New York Transit Authority New York, NY 10010 Dear Mr. Vogel: (SALUTATION – Two lines below Inside address, aligned left margin. Note a business letter salutation uses a colon. A personal letter uses a comma.) Enclosed is our final report evaluating the safety measures for the New York City Transit System. (BODY – Begin two lines below the salutation, justified left.) The report addresses all issues you raised in our last meeting. I believe you will be happy with the issues resolution. However, if you have any further questions, I would be happy to meet with you again. Thank you for your willingness to fully share data, and for your insights as we compiled this report. Your experience was invaluable. Sincerely, (CLOSING – Two spaces below the body. Use Best regards or Best wishes if the recipient is a close colleague.) Marilyn Jones (YOUR SIGNATURE, HANDWRITTEN) Marilyn Jones, Ph. D. (WRITER’S SIGNATURE BLOCK – Your full name four lines below closing. Include business title and individual contact info.) Director of Research mjones@companyname.com MJ/ls (END NOTATIONS AS NEEDED: letter writer initials/typist; enclosures; courtesy copies) Enclosure: Final Safety Report cc: ITS Safety Committee Members Note that all text is fully justified left. It is also acceptable to indent the Inside Address and the Closing, Signature, and Writer’s Signature Block. If you choose this format option, indent them to the center of the page and align all of these elements. CONTINUING PAGES If a letter requires a second page (or, in rare cases, more), always carry at least two lines of the body text over to that page. Use plain (non-letterhead) paper of quality equivalent to that of the letterhead stationery for the second page. It should have a header with the recipient's name, the page number, and the date. Place the header in the upper left-hand corner or across the page.For example:Ms. M.C. MarksPage 2March 16, 2012(we prefer this format)ORMs. M.C. Marks Page 2 March 16, 2012 Letter writing is just one of the skills that we teach in our most popular effective businsess writing course.

Play review Essay Example | Topics and Well Written Essays - 500 words - 7

Play review - Essay Example The change of setting was highly enlightening as it demonstrated the great universality of Shakespeare’s works. The particular choice of the 1920s seems to be motivated both out of particular elements in the play that fit well with this time period, as well as the time period’s reputation as a time of excitement during the prohibition era. In terms of specific elements one considers that alcohol is implemented in a variety of scenes within the play. For instance, Toby and Andrew are regularly drunk and this motivates some of the action in the drama. The nature of the adaptation, however, didn’t play as large a factor as one might assume. To an extent it seems that this has to do with the nature of the production. Rather than being a full-scale theatrical production this play was more of a one-off reading. In these regards there were minimal sets. In terms of staging there were a variety of non-descript backdrops and the requisite bar that identified the play as o ccurring in the 1920s. The costumes, however, were directly influenced by the period; the men were dressed in Chicago-gangster like attire, while the women were replete in flapper wear. In terms of lighting elements there were minimal notable occurrences. There was a general stage light and a spotlight that was implemented for juxtaposition in a variety of scenes. Perhaps more significant at times was less the action occurring on the stage than the fact that it occurred within the specific playhouse. The Coconut Grove Playhouse has been in existence since the 1920s – the same period the play was set – and this gave the play a sort of vintage ambience that heightened the plot. In terms of acting it was clearly discernable that the production was not as extensive as other plays. While many of the actors were engaging, to a large extent their interactions lacked the unconscious and free-flowing intensity that is more indicative of productions where the

INDIAN NEGOTIATION STYLES Essay Example | Topics and Well Written Essays - 750 words - 1

INDIAN NEGOTIATION STYLES - Essay Example In essence, Indian negotiating styles combines the values of culture honesty and details in ways that focus largely on the results rather than the processes. Business is considered as a culture and not simply a means towards profits. Success and failure are assessed in terms of the character and ability of agents rather than logical outcomes of strategies and processes (Martin, & Chaney, 2009). In the context of international business, the negotiation process in India is considered, in many circles, as a process of balance of power and an adjustment of equilibriums between the presumed cultural greatness of the west and Indian culture. Cultural balance and cultural universalism acquire more prominence to challenge the negative assumptions resident in theories of cultural relativism as understood in business context. Indian negotiating styles significantly rely on the details (Zubko, & Sahay, 2010). Issues are broken down into their constituent parts and analyzed in accordance with the manner in which they relate to the bigger picture. In essence, the process entails the realization of a range of issues that connect with outcomes. Usually, the focus begins with the bigger picture before attention is given to the driving factors and the specifics of the deal. Clarity and order in the details of the deal becomes necessary for purposes of assessing the feasibility of the deal. Naturally, Indians prefer the guidance of clear data and mathematical procedure towards the attainment of a given goal. This trait is consistent with the cultural attachment to matters of mathematical and scientific importance. Studies have connected these traits to the flourishing IT and medicine culture in the country. Family and business comprise the uniform continuum that forms part of the Indian culture (Desai, 2012). Appreciating the family connections behind India’s corporate world remains a key starting point of developing insights into the working of the system. Usually,

Receiving A Telephone Call From The Security Guard. Company's Security Essay

Receiving A Telephone Call From The Security Guard. Company's Security Issues - Essay Example I'll further ask the security guard to produce a list of those who entered the locker room and list of those who operated their lockers in last twenty four hours. The Security guard will be asked to call upon the in-charge of department handling cameras and equipments, the in charge will be requested to figure out if he had any clue regarding loss of the cameras. If yes, the main in-charge will be requested to report the exact timings of the loss. The security department will be asked to ascertain the list of those who visited the equipment department, and inquire about their purpose of visit, the frequency of visits has to be noted down. Upon reaching the location, I'll inspect the data gathered by the security guard. Every present employee, including the security officials, will be handed over a page, to give a brief description of their entire working day; the respective pages will then be handed over to the in-charge of the department for confirmation and verification. In the meantime, I'll develop a personal interaction with Randeep, listen to his part of the story, the team leader of his department will be requested to give me a highlight about employee's past record and activities. Randeep will be asked to provide the exact timings of when did he operated his locker last time, and why should he be considered innocent of the charges. Of course I will not consider Randeep to be the culprit, because if he had to steal it, he would not have been fool enough to place those cameras into his locker, that are regularly inspected. Randeep is either too stupid to make such robbery, or he is innocent. I'll inform the company's management about the incident, and will inform him about the steps taken. I'll seek his guidance, if he wanted crime forces to intervene, and conduct the inquiry, or wait for the outcome of the steps initiated by my authority as Human Resource Manager. The company's management guidance will be requested with reference to ordering immediate termination letter to the employees found guilty of charges. The company's management will be informed as per their convenience, before the next working day commence. What do you think has happened After listening to the employee's version, and receiving briefing by the team leader. I'll ask my deputy to interact with Phil. Phil will be asked verbally to ascertain all that he has written on the paper, he will asked to proof that he has no connection with the charges, such that neither he plotted the event, nor he supported Randeep for his action. I'll ask my deputy to not only target Phil, but target some other individuals, including staff in the security, because it was mainly a lapse from their side as well. I would have personally considered Randeep to be the culprit, but the reason for not doing is that because the crime committed or impose upon Randeep has emerged out during the period when the company is likely to announce the nomination of Randeep for the position of Team Leader. An employee who is so dedicated and sincere towards his task, who understands that he will be promoted soon, is not likely to commit such crime, perhaps Randeep would have received better opportunities to steal after his promotion. I will certainly have different versions related to the incident, 1. Either Randeep has stolen the camera, to gather money, because he has been always complaining shortage of finances after he separated. 2. Either Phil has committed this folly, because he wanted to damage the image of Randeep, as the company planned to announce the suitable

Management Info Systems Project wk6 Essay Example | Topics and Well Written Essays - 250 words

Management Info Systems Project wk6 - Essay Example The practice of e-commerce increases with increasing demand of goods in the online platforms, necessitating the integration of the supply chain management a process that poses challenges in the contemporary business world. Geunes researches on the application of supply chain and e-commerce in an organization. The book provides answers to the research questions in the project because it expounds on the benefits of integrating e-commerce and supply chain management as well as the paybacks that result from its integration. Navid’s article covers the roles of e-commerce in the supply chain management as a means of minimizing cost. The article presents details about the e-commerce process and research literature as well as a description of the requirements and necessities in the contemporary competitive world. It will be useful in understanding the relevance of e-commerce in supply chain management. Rekha explores further the impacts of e-commerce on supply chain management. He has highlighted and provided insightful thoughts that will greatly assist in the final project. Therefore, journal article will help in the achievement of objectives in the project as it reveals the major impact of e-commerce on supply

A problem in nursing and my solution to it Research Paper

A problem in nursing and my solution to it - Research Paper Example Also, there is a significant reason to believe that there are now nurses who are not educated well and are not up to the mark. The World Health Organization finds that there is a 4.3 million shortage of nurses and other caring staff around the world. It cited that the reason for this shortage is the years of low investment in the education of health workers, creating effective training, paying good wages and providing the nursing staff with a better environment and administration (WHO, 2006). One of the basic reasons that have created this shortage in countries is that the profession of nursing requires a person to be compassionate, patient and caring. Moreover, medical attention is a serious activity and the person should be competent and skilled in giving proper care. But due to the notion that nursing is an easy profession and the fact that there are many accelerated programs that result in people who are not interested in other careers or are left with no choice but to choose thi s profession, the nursing shortage has become more severe. These individuals account for the malpractice and lack of care in hospitals (Smith, 2010). Another reason that can be attributed to the shortage of nurses is the aging nursing workforce. The nursing profession was dominating in the 1960s and the 1970s and many people started to enter the market to be a nurse. But over the years, many other opportunities in other industries opened for women that resulted in women turning their careers towards some other direction. This means that currently much of the nursing staff will be old and above the age of 40. Nursing is not an easy task and requires strenuous effort by an individual to carry out their jobs. For that reason, the over aged nursing staff has resulted in shortage of nursing staff (Smith, 2010). The impact of the nursing teaching and the rate of enrollment cannot be ignored for it plays a detrimental part in it. Many students who want to become nurses will be dismayed by the lack of institutions and many nursing schools have to turn away students who may be skilled and competent due to shortage of funds and staff. With so many institutions now turning away possible candidates for nurses, it is evident that the admission process is very competitive and simultaneously very restrictive (Berlin & Sechrist, 2002). Another reason that has fueled the fire in the shortage of nurses is that there is a farce notion and perception against the field of nursing. It is true that nursing is a tough and strenuous occupation that requires a lot of hard work and physical output. But this stress is not alleviated but, in fact, elevated with the insufficient staffing of hospitals and medical institutions. With their workload cut out for them it is understandable that the nurses will not be able to give their best as they will be frustrated and stressed all the time. Long hours of shift and more work never go along and ultimately result in the dissatisfaction and lack o f motivation for nurses. This furthermore aggravates the shortage of n

Kant and plato Essay Example | Topics and Well Written Essays - 1500 words

Kant and plato - Essay Example These perceptions, in turn, are not just consequences of an examination or analysis of judgments of experience into their inseparable parts. According to Kant, before â€Å"a judgment of perception can become a judgment of experience; it is requisite that the perception should be subsumed under some concept of the understanding.† (41) From this perspective, perceptions would supposedly lead us to make our judgments and that synthesis appears only in so far as the priori conceptions of the understanding enable us to go beyond the particular judgment of perception and to turn them into universal judgment of experience. To prove, according to Kant, the possibility of experience in the context of the a priori concept of understanding, one needs to represent what belongs to judgments in general and the various moments of the understanding in them. (42) Kant explained that understanding provided us with the categories that we could use in order to judge experience. He argued that this is particularly useful in judging ideas, such as the soul, God or freedom – things that are beyond experience. Understanding in his philosophy is not unlike judging, specifically when the act is done to unite representations in a consciousness. Again, the fundamental elements here are the intuition as well as Kant’s concept of the noumena or things in themselves, existing outside our intuitions such as Kant’s metaphysical knowledge which abstracts from all experience. â€Å"Experience,† wrote Kant, â€Å"consists of intuition, which belong to sensibility, and of judgments, which are solely the understanding’s business.† (43) This explanation is one of Kant’s depictions of interrelating and interdependent elements required in order to achieve knowledge. To clarify possible confusion, Kant summed his analogies in this way: â€Å"the business of the senses is to inuit; that of the understanding, to think.† (Kant

A problem in nursing and my solution to it Research Paper

A problem in nursing and my solution to it - Research Paper Example Also, there is a significant reason to believe that there are now nurses who are not educated well and are not up to the mark. The World Health Organization finds that there is a 4.3 million shortage of nurses and other caring staff around the world. It cited that the reason for this shortage is the years of low investment in the education of health workers, creating effective training, paying good wages and providing the nursing staff with a better environment and administration (WHO, 2006). One of the basic reasons that have created this shortage in countries is that the profession of nursing requires a person to be compassionate, patient and caring. Moreover, medical attention is a serious activity and the person should be competent and skilled in giving proper care. But due to the notion that nursing is an easy profession and the fact that there are many accelerated programs that result in people who are not interested in other careers or are left with no choice but to choose thi s profession, the nursing shortage has become more severe. These individuals account for the malpractice and lack of care in hospitals (Smith, 2010). Another reason that can be attributed to the shortage of nurses is the aging nursing workforce. The nursing profession was dominating in the 1960s and the 1970s and many people started to enter the market to be a nurse. But over the years, many other opportunities in other industries opened for women that resulted in women turning their careers towards some other direction. This means that currently much of the nursing staff will be old and above the age of 40. Nursing is not an easy task and requires strenuous effort by an individual to carry out their jobs. For that reason, the over aged nursing staff has resulted in shortage of nursing staff (Smith, 2010). The impact of the nursing teaching and the rate of enrollment cannot be ignored for it plays a detrimental part in it. Many students who want to become nurses will be dismayed by the lack of institutions and many nursing schools have to turn away students who may be skilled and competent due to shortage of funds and staff. With so many institutions now turning away possible candidates for nurses, it is evident that the admission process is very competitive and simultaneously very restrictive (Berlin & Sechrist, 2002). Another reason that has fueled the fire in the shortage of nurses is that there is a farce notion and perception against the field of nursing. It is true that nursing is a tough and strenuous occupation that requires a lot of hard work and physical output. But this stress is not alleviated but, in fact, elevated with the insufficient staffing of hospitals and medical institutions. With their workload cut out for them it is understandable that the nurses will not be able to give their best as they will be frustrated and stressed all the time. Long hours of shift and more work never go along and ultimately result in the dissatisfaction and lack o f motivation for nurses. This furthermore aggravates the shortage of n

Heroes & Odysseus Essay Example for Free

Heroes Odysseus Essay This paper will seek out to explore the way in which Odysseus and Oedipus were created as heroes and how they either missed their mark or did indeed become legendary. Throughout Homer’s chronicle, The Odyssey, are found the feats of cunning, strength, moral fiber and bravery attributed to Odysseus. The tale recounts the days after the fall of Troy, and the meandering journey which took Odysseus back to his homeland – though never truly home. The Odyssey begins with Odysseus stranded on a small forest island – trapped by the goddess Calypso while Oedipus begins with the oracle of Delphi stating that Oedipus will live to kill his father and marry his mother and thereby wrecking his home. It is explained through the text that the gods, save for Neptune have begun to pity Odysseus because of the great suffering he had endured. This suffering is explained to be of â€Å"every kind of blandishment to make him forget his home, so that he is tired of life. † (Book I) Calypso is intent on forcing Odysseus to marry her, but he does not falter to her whim, but still longs for his wife and home. Oedipus on the other hand does fulfill the oracle’s prophesy and no god saves him or pities him his fate. This is brought to the attention of Jove, or Zeus, son of Saturn and most powerful of the gods. The goddess Minerva calls to Jove to end the suffering of Odysseus, to which Jove replies: My child, what are you talking about? How can I forget Ulysses than whom there is no more capable man on earth, nor more liberal in his offerings to the immortal gods that live in heaven? (Book I) It is through the voice of Jove, the king of all the gods and goddesses that the reader is shown the esteem that Odysseus has gained. Jove calls Odysseus the â€Å"[most] capable man on earth†, which intends to illustrate the favor that he has earned from the gods. When it is decided by Minerva and Jove that Odysseus will be allowed to return home, Minerva travels to Ithaca – the home of Odysseus to tell his son to prepare for his father’s return. However the situation on Ithaca has become troubled as many suitors are vying for the hand of the, presumed, widow of the king. During this debate, Telemachus, the son of Odysseus convened the council and spoke of the trouble that had fallen on his house. My grieveance is purely personal, and turns on two great misfortunes which have fallen upon my house. The first of these is the loss of my excellent father, who was chief among all you here present, and was like a father to every one of you [†¦]. (Book II) Here, it is shown that not only was Odysseus capable of pleasing the gods, but also he was a great and fair leader. The council of Ithaca, though his subordinates, where treated as his own children – rather than simply citizens subject to his rule. It is also during this discourse that Telemachus calls for an end of the forced courting of his mother by saying â€Å"we have now no Ulysses to ward off harm from our doors, and I cannot hold my own against them. I shall never all my days be as good a man as he was† (Book II) – which then illustrated the strength and power that the presence of Odysseus commanded. Characters in plays are the designated interlopers between the subconscious of the audience or readers. These characters translate into reality and become a relatable experience because the hero has one tragic flaw that conquers them, ruins them, and brings them humility. This fallible nature is show the imperfections of humanity designed through sin; sin is one of the many idiosyncrasies which mark us as human, that create specific characteristics and through confession or the confession of characters in a play, this nature becomes like a myth in the end there is death or forgiveness. Aristotle’s definition for a tragic hero is one who is not in control of his own fate, but instead is ruled by the gods in one fashion or another. The tragic hero for Aristotle is tragic because of their lack of control or will in the face of their predetermined future and downfall. A great tragic flaw (hamartia) is the hero’s devil may care attitude at the beginning of each story, and then their despondency and stagnation of hope that meets them at the end of the play (Aristotle Ibid. , Book XIII, 1085b 35 1086a 12—14, P. 909]. In drama, ego is the flaw to which the hero succumbs. This is Oedipus’ great error. His ego is a compromise to his fortune. Even in the gods’ world he stands out as unique or special. Heroes begin their stories with aplomb of luck, or ego, or a rosy view of the world, and each play seems to end with destruction. Oedipus is blind at the beginning of the play and then becomes physically blind at the end of the play thus making the ethereal concrete. With Greek drama; the tragedy of the unmistakable truth found in the character’s own self-realization is the typically denouement. The playwright’s tragic heroes have survived in life under false pretences, thus they are doomed to suffer from their one flaw of ego. It is interesting that while ego is Oedipus’ downfall it is Odysseus’ strength for it is ego which allows him to continue trying to find his home even after decades of looking. By the forth book of The Odyssey, Odysseus is still making his way home, and the tales of his exploits are recalled. As Helen, wife of Menelaus, and the cause of the Trojan war spoke of Odysseus, she recalled his cunning and forethought in his dealings with Troy. â€Å"I cannot indeed name every single one of the exploits of Odysseus†, Helen told the men, â€Å"but I can say what he did when he was before Troy. † (Book IV) Helen recounted Odysseus donning a disguise and entering the city dressed as a beggar. Though she saw through the disguise and recognized him, she was unable to question him because â€Å"he was too cunning for me†. (Book IV) It was the plan of Odysseus to gather information on the city, and kill some of the soldiers before returning his army – which, as Helen recalled, he did. This praise of Odysseus was echoed by her husband, Menelaus. After Helen had spoken, Menelaus said â€Å"I have traveled much, and have had much to do with heroes, but I have never seen such another man as Odysseus. What endurance too, and what courage he displayed†. (Book IV) The strength and bravery of Odysseus, as recounted by Menelaus, illustrated the degree to which Odysseus had gained favor among his fellow Grecian kings. In Oedipus there is another case of fate controlling the destiny of man. Due to fate’s interference in the lives of heroes, it must be pondered whether or not they are heroes because they are devoid of choice and by definition a hero chooses their actions, but with fate, their actions are predestined. For Oedipus, his only link to heroism is that in his redemptive attitude . His heroic stance in Greek culture is seen as a protagonist who felt guilt for what he had done and this translates to the audience that if a hero can succumb to evil then they themselves, as less than heroic, are more likely to fall in favor, in the eyes of the gods. Human nature is a nature of reason, not strictly adherent to passion or feelings, and in drama playwrights strive to be exact in their representation of reality. Morality then, becomes the crux of Oedipus Rex. Morality is reason. This is not to say that Plato and other classic Greek writers were ascetic; rather they placed passion, and feelings in their plays but the ethics of humanity are tied into the good of a person because reasonably, being virtuous, or good leads a character to happiness or release at the end of a modern play. The word for this given by Plato is eudemonism, which means blissful. Throughout The Odyssey, many individuals recount the feats of Odysseus. His exploits had gained him favor from man and God alike – something afforded to very few others in history or mythology. It was the total of every aspect of Odysseus’ persona that he gained this favor. Throughout his life he had shown courage, fairness, loyalty, strength and cunning – and it is because of these traits that Odysseus is remembered. As a Greek hero, Oedipus is controlled by fate: His remittance of gouging his eyes shows that he is a strong hero because of his debt payment of sight. For Oedipus the flaw could be contained within the word ego while Odysseus’ heroism is marked by it. Ego in answering the sphinx riddle and unbeknownst to him killing his birth father, marrying his mother, having children; ego accounts for all of Oedipus’s actions, and it is fate which had designed ego and thus was the ultimate ruler of Oedipus and luck for Odysseus but both are considered heroes. Works Cited Aristotle. http://olldownload. libertyfund. org/EBooks/Plato_0407. pdf Sophocles. (1977). The Oedipus Cycle. Harcourt Inc. Florida. Homer. â€Å"The Odyssey†. trans. Samuel Butler. University of Oregon. Date of Access: April 30 2009. URL: http://darkwing. uoregon. edu/~joelja/odyssey. html

Valuation Methods of Inventories: Advantages Disadvantages

Valuation Methods of Inventories: Advantages Disadvantages The subject of this paper is the valuation of inventories. We have looked at the rules of the International Financial Reporting Standards (IFRS) and Dutch rules. The Dutch rules can be dividend in Title 9 of Book 2 of the Dutch Burgerlijk Wetboek (BW) which is a part of the Dutch law and the recommendations made by the Raad voor de Jaarverslaggeving (RJ) which are giving a interpretation of the Dutch law, but which are not a part of the Dutch law. The research question of this paper is: Which valuation methods of inventories are allowed or not and what are their advantages and disadvantages? Before we are starting with this question we tell you about the general lay out of the different rules and standards in chapter 2. In chapter 3 we will explain the methods based on the historic cost price. This chapter tells you about costs of purchase, costs of conversion and methods to assign costs. We will explain the differences between fifo, lifo and hifo. Chapter 4 deals with fixed transfer price. Chapter 5 describes the fair value (or actual value). Chapter 6 describes one interpretation of fair value, namely the replacement value. Chapter 7 describes net realizable value and the difference with fair value. Chapter 8 will tell you in short about the selling price. At the end of this paper in chapter 9 we will give our opinion about which methods should be used. General laws and standards The use of IFRS is for the consolidated statements of listed companies. All other companies in the Netherlands can opt for the application of IFRS or Dutch Law in Title 9 of Book 2 of the BW and the rules which were made by the RJ.  [1]   IAS 2 (IFRS) IAS 2 sets out how to deal with inventories. Paragraph 6 defines inventories as follows: Inventories are assets: held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services.  [2]   IAS 2 is not applicable for all kinds of inventories. Work in progress arising from construction contracts, including directly related service contracts, financial instruments and biological assets related to agricultural activity and agricultural produce at the point of harvest has their own IAS. IAS 2 paragraph 9 prescribes that inventories must be measured at the lower of the cost and net realizable value. This leads to a requirement for impairment test. Paragraph 10 prescribes that the costs of inventories shall contain all costs of purchasing, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Paragraph 6 prescribes that the net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Book 2, Title 9 of the Burgerlijk Wetboek (Civil Law of the Netherlands) The Dutch Law defines in article 2:369 BW about the next four types of inventories: Commodities and consumable supplies; Work in progress; Finished goods and goods for trading; Prepayments on inventories.  [3]   Article 2:384 lid 1 BW allowed the purchase price, the manufacturing price and the actual value to use for valuation of the inventories. Article 2:384 lid 7 BW gives an own regime for financial instruments, other investments and agricultural inventories. In the Besluit Actuele waarde the rules of Book 2 title 9 are further explained.  [4]   Raad voor de Jaarverslaggeving The Raad voor de Jaarverslaggeving (RJ) gives the following definition of inventories: Assets which are  held for sale in the ordinary course of business;  in the process of production for such sale; or  in the form of materials or supplies to be consumed in the production process or in the rendering of services. The RJ prescribes in rule 220.301 RJ that inventories must be valuated based on the cost-price or the lower market value or actual value. 220.201 RJ defines when an inventory item has to be recognized. The inventories are only assets if it is probable that the future economic benefits in according to the assets will be for the company and the costs of the assets can be solid measured. Comparing the rules The definition of inventories is the same in IAS 2 and the rules of the RJ. Book 2 BW is applicable on every type of inventory. IAS 2 is not applicable for every type of inventory. Excluded inventories have their own IAS. Actual value is allowed in the Dutch rules, but not under IAS 2. There are not any differences between the Dutch BW and the RJ about valuation techniques. This is logical, because the RJ has to deal with the Dutch BW. Historic cost price Although there is much criticism about his system, this one of the most used method of valuation of inventories. When you think of historical cost, you immediately think about costs of purchase. But that are not the only costs. Think of transport costs, administrative costs, taxes and other cost. Factories even have cost to complete the products. We call these costs of conversion. Costs of purchase Costs of purchase are not only the price paid for the product. There are more costs that you have to pay. For example import duties, administration cost and shipping cost. Value added tax can be recoverable by the entity from the taxing authorities  [5]  . These taxes are therefore no costs and cannot be added to the inventory. All other costs that are directly related to the product can be added to the inventory (according to IFRS). It is important that also revenues from discounts are deducted from the total costs of purchase. We shall make an example. Let assume there is a company in the Netherlands. They want to buy oranges in Africa. The oranges normally costs 2 euro per kg, but the company gets a discount (because they buy a large quantity). They cost now à ¢Ã¢â‚¬Å¡Ã‚ ¬1,50 per kg. The company buys 500kg. Value added tax is à ¢Ã¢â‚¬Å¡Ã‚ ¬0,50 per kg (based on the discounted price). To ship the oranges to the Netherlands there are costs: à ¢Ã¢â‚¬Å¡Ã‚ ¬100. The company also needs to pay import duties: à ¢Ã¢â‚¬Å¡Ã‚ ¬50,-. The costs of purchase can be determined as followed: Price: 500kg x à ¢Ã¢â‚¬Å¡Ã‚ ¬2,- = 1,000 Discount (500kg x à ¢Ã¢â‚¬Å¡Ã‚ ¬0,50) = (250) VAT (500kg x à ¢Ã¢â‚¬Å¡Ã‚ ¬0,50) = (250) Shipping cost = 100 Import Duties = 50 Cost of purchase = 650 Note that you really pay à ¢Ã¢â‚¬Å¡Ã‚ ¬900,- in total. But 250 will be returned to you by the tax authorities. Costs of conversion Costs of conversion are the costs that occur when a manufacturing entity makes products out of raw materials. You do not only have the raw materials. Think of the machines in the factory and employees. These are examples of direct costs. But they are not the only costs. There are many costs that cannot be directly linked to a product: administration, electricity, depreciation of machinery and so on. But which costs should you assign to the product (and inventory). This is a topic that is very much discussed in management accounting. There are basically 4 types of methods to allocate costs to the products. Throughput costing, direct costing, absorption costing and activity based costing. Throughput costing Throughput costing traces the least amount of cost to the inventory. Throughput costing only assigns only the direct costs. These direct costs are based on unit-level. This is an advantage because otherwise managers would have an incentive to overproduce  [6]  . Managers do that because you are able to lower the average cost per unit when you produce more. We shall give an example: A company produces 10.000 products. 5000 products will be sold. Fixed costs are $ 50.000 and variable costs are $ 1 per unit. Selling price = 15 We assume that there is no beginning inventory. We can see that in this example the profit is much higher under absorption costing. In this example is the production higher than the actual sales. Note that if the production is equal to the sales, there would be no difference. If the production is lower than the sales, you need to have a beginning inventory and profit under absorption costing is lower. This is because you take a part of the last years fixed cost and takes that this year. So it looks like throughput costing is a good system because you cant steer the profit, but it violates the matching principle. That is why this method is not allowed for external reporting purposes. Direct (or variable) costing In this system all variable manufacturing costs are allocated to the inventory. All other costs flow into the expense of the current period. The variable manufacturing costs include direct material, direct labor and variable overhead. Variable overhead can be for example the electricity needed to operate machines. Absorption costing In absorption costing all of the manufacturing cost (fixed and variable) capitalized in the inventory. As we mentioned earlier, this means that the cost will not be an expense until the product is sold. The only costs that are taken at cost when incurred are selling and administrative costs. This is the system that is mostly used for external reporting. This is because it is aligned with the matching principle. Today, this system is now increasingly used also for internal reporting. But as mentioned earlier, this system has a great disadvantage that it might encourage a manager to overproduce. Activity based costing Activity based costing is invented to improve traditional costing systems. The system provides more accurate product costs. You have to first assign costs to activities and then to goods and services based on how much each good or service uses the activity. You can say that activities consume resources and products consume activities You can determine the cost of goods and service in four steps: Step 1: Search for activities that are related to the companys products. You need to make a list of activities and classify them as unit-level, batch level, product level, customer level or facility level. There are varies ways to do this: You can use the top-down approach. The organization use specials ABC teams of people at the middle-management or above. Advantage of this method is that generating the activity dictionary is quick and inexpensive.  [7]   You can also use the interview or participative approach. In this method you interview operating employees. So you have to rely on their knowledge. And last but not least you can use the recycling method. In this method you have to reuse documentation of processes used for other purposes. Step 2: Estimate the costs of the activities that you identified in step 1. Step 3: Calculate a rate for each of the activities that you indentified in step 1. For example machine cost is caused by hours it is used. So you need to calculate a rate per machine hour used. Step 4: Assign the activity cost to the product. For instance: measure how much hours you used and calculate total cost assigned to the product. Do this for all of the activities. As you can see it is a very time-consuming and therefore expensive method. But you get the advantage of detailed information. Therefore a company needs to evaluate whether the extra information has a higher value than the costs. As you can see, fixed costs are included in this system to. The system treats all costs as variable. ABC is not used for external inventory valuation, but for decision-making purposes. This is because selling and administrative costs are also included. Activity based costs are therefore also not charged to the inventory accounts. Thats why most of the companies that use the ABC method have an IT-system. This system is separate from the companies accounting system used for external reporting. Normally the process of identifying is done once per year, or when changes are made in the production process. Main difference with other costing systems is that other costing systems the manufacturing costs are allocated to products on the basis of production volume related measurement such as direct labor hours. ABC uses both production volume and non-production volume related bases. In ABC an attempt is made to assign all costs to products including engineering, marketing, distribution and administrative costs  [8]  . Methods to assigning costs Historical cost price is only a valuation at first recognition. For subsequent measurement you have different methods for assigning costs to inventory on sale. Fifo We begin with fifo. Fifo means first in first out. According to this method you assume that items that were first purchased are first sold. This is not literally. This method makes more sense in businesses where actually the first purchased products are first sold. This is the case in for example a supermarket. In this method the remaining inventory comes near to replace value. Because the inventory is valued for the price that you have paid last time. If this was not a long time ago, this last price is the replace value. When products decrease in prices (deflation), fifo gives a lower income. This can be an advantage when you have to pay tax. But when there is inflation, fifo gives a higher income. LiFo Lifo means last in first out. It is basically the same as fifo, but in this method you assume that the last purchase goods are first sold. When goods do not have an expiry date this is a method that makes sense. For example think of a warehouse full with steel. You grab the first one you can reach. Steel will not decrease in value over time. It is a lot more work to grab the last one. In that way you actually first sell the product that you bought last. When you use lifo, the cost of goods sold comes near replace value. This is because you use the newest purchase cost. But the inventory is valued according to the oldest products purchased. When there is inflation, lifo gives a lower income. This gives an advantage when for example you have to pay tax. Collective LiFo (periodic LiFo) In collective LiFo, the amount of inventory is determined periodically by conducting a physical count and multiplying the number of units by a cost per unit to value the inventory on hand  [10]  . This makes a difference with normal LiFo. This difference can be best explained with an example: A company buys on 1/1 500products à ¡ $1,50 Buys 1/4 200products à ¡ $1,60 Sells 1/5 600products Buys 1/7 300products à ¡ $1,40 Sells 1/9 200products LiFo: When the company sells on 1/5 the purchase cost of that 600products are: 200 x 1,60 + 400 x 1,50 = $920,- There are 100products left in the inventory with the worth of $1,50 each= $150,- When the company sells on 1/9 the purchase cost of that 200 products are: 200 x 1,40 = 280. Total costs of purchase for the period = 280 + 920 = $1200 The worth of the inventory on the end of the period = 100 x 1,40 + 100 x 1,50 = $290 Collective Lifo: This time we do not look at when the company sells, but only at the end of the period. At the end of the period there are 800 products total sold (800+200). The purchase cost of that product can be calculated as follows: 300 x 1,40 + 200 x 1,60 + 300 x 1,50 = 1190 The worth of the remaining inventory = 200 x 1,50 = $300 As you can see this makes a difference of $10. In this example it is not that much. But think of a company that buys and sells every day. In that case the difference can get much bigger. Collective Lifo is a good example of a periodic method. Lifo is a perpetual method. As you saw in the perpetual method the inventory are updated each time a transaction involving inventory takes place. In the periodic method the amount of inventory is determined by conducting a physical count  [11]  . Unfortunately despite the advantages, this method can only be used for homogeneous products. The perpetual method is a much more time consuming method. Therefore the cost is higher. But this method has advantages. You can get anytime you want information about the cost of purchase and the value of the remaining inventory. Therefore management can make better decisions. Because of the better control that you have, you will immediately see differences in stock. These differences can come from multiple reasons, for example they can be stolen or spoiled. Management can examine why there is a difference and can take action. Hifo Hifo means highest in first out. In this method you assume that the goods with the highest value will be sold first. In this case the company records the highest cost of goods sold as possible. Therefore, this method decreases your income. This is an advantage for companies, because they have to pay less tax or have less attention from for example environment associations or government. For example shell will not make too much profit. Otherwise government would raise taxes because it is polluting for the environment to produce oil. The cost for having this attention is called political cost. You need to minimize that cost. This method can also be Lowest in, First out. It works the same way. Only in this way you maximize your profit. This can be an advantage for managers whose income is dependent of the profit. Average costing method The inventory is based on the average costs of all products. This can be a weighted average; this is the average of a period. The average can also be a moving average. In this case the average is changed every time the company buys new products or when there is a purchase return. This method makes the assumption that all products are homogeneous. Therefore it makes sense to use it in companies that have homogeneous products. The method has the advantage that is very easy to apply. Because it is an average, you eliminate unusually high or low materials prices. This can help for better or stable cost estimates. Fixed transfer price (Dutch: vaste verrekenprijs) When purchase prices changes a lot it is very time consuming to register individual purchase price. It is even more time consuming when a company has a lot of transactions. That is why a fixed transfer price can be used. The fixed transfer price is based on a fixed purchase price plus cost of purchase and cost of inventory. At the beginning of the period, an average purchase price, average purchasing cost and average inventory cost is estimated. Because it is an estimation, there will be differences in the real cost and the estimated cost. The difference must be recorded on a separate account called: price differences at purchase.  [12]   An example: Company Bert sells chairs. The fixed transfer price is $ 200,-. This price consists of: Purchase price $ 160 Purchasing cost 10 Inventory cost 30 $ 200 The company buys 50 chairs for a total price of $ 8200. The following journal entry has to be made: Inventory $ 10000 (50 x $ 200) Price differences $ 200 a/ revenue purchasing department $ 500 a/ revenue inventory department $1500 a/ creditors $8200 Price differences are only based on the difference between expected purchasing price and real purchasing price. Therefore price differences is 8200 (50 x 160) = 200. In this case the difference is an asset, because you actually paid more than the worth in your inventory. But sometimes you evaluate your inventory to high, because actual price is lower. For example: Company Bert buys 50 chairs for total price of $ 7800. Journal entry will be: Inventory $10000 a/ revenue purchasing department $ 500 a/ revenue inventory department $1500 a/ creditors $7800 a/ price differences $ 200 You can see that inventory did not change. Thats why FTP has the major advantage that inventory is easy to valuate. You can immediately calculate how much units you have (Inventory divided by FTP). When you sell your products the sale will be calculated on actual price. The difference will disappear. For example you sell 40 chairs of the 50 chairs you bought. You sold them for $400,- per chair. Journal entry will be: Cash 40 x $ 400,- = $16.000 a/ Sales $16.000 Cost of goods sold (8700/50) x 40 = $ 6960 Price differences = $ 1040 a/ inventory 40 x 200 = $ 8.000 Cost of goods sold is valuated at actual price (in this case). This can also be on average price. The remaining price difference only consists of the 10 remaining chairs in inventory. If they are sold too, the price difference is 0 again. Price differences are a correction on the inventory. When you use average cost price you create a special situation. Because then price differences are not only a correction on the inventory but also on the cost of goods sold. Therefore you have to make a distinction between price differences that go to the balance sheet and that go to profit and loss account, at the end of the period. Fair value (or actual value) Paragraph 6 of IAS 2 gives the following definition of fair value for inventories: Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arms length transaction. How works the fair value accounting method? Fair value isnt laid in one conception. The basis of fair value is that the value of an asset or liability is the value for what the asset can be traded between well informed, independent parties which want to do the transaction. The best indication of fair value is the quoted price on an active market. But not every asset has a quoted price on an active market. If an active market isnt available, than you can look to the last transaction. This is just a good indication if the economic situation has been the same. At least you can use valuation techniques to determine the valuation. Other fair value conceptions are value in use and replacement value.  [13]   Is the fair value accounting method allowed for inventories? IAS 2 doesnt prescribe fair value as a valuation method. The RJ allows the use of fair value for valuation of inventories in 220.301 RJ. Art. 2:384 lid 1 BW allows the use of fair value.  [14]   IAS 2 gives an explanation of the conception of fair value, because it explains that net realizable value may not equal to fair value minus selling costs. Article 8 of the Besluit Actuele waarde explains that you can use the replacement value for inventories, besides the agricultural inventories. If the gain value is lower than the replacement value, than you have to use the gain value. If it is probable that the inventories will be replaced, than you have to use the gain value. For agricultural inventories which are valuated by actual value, you have to use the realizable value. 220.331 RJ describes if the inventories will be valuated by the actual value and that is probable that the inventories will be replaced, than must the actual value be based on the replacement value or the lower realizable value. 220.332 RJ says if the inventories will be valuated by the actual value and it is not probable that the inventories will be replaced, than must the actual value be based on the realizable value. The replacement value and the realizable value will be explained in another part of the paper. What are the advantages and disadvantages of fair value? The general advantages of fair value accounting for inventories are: More transparency Providing more information (about the market prices) Financial reports are less subject to earnings management.  [15]   Disadvantages are: Fair value accounting can be expensive. Implementation and maintenance of a fair value accounting system will cost time and resources. Fair value accounting for inventories is allowed by the RJ and the BW, but not by the IFRS. This can be confusing for some companies. We think that it will be good if the Dutch rules and the IFRS will be the same, because this makes it more clear for the companies if the allowed or not to use fair value accounting for inventories. We dont think that fair value must substitute the other methods, because for some companies is it not easy to measure the fair value. Replacement value There are two variances of the replacement value method: replacement value with a normal inventory and replacement value without a normal inventory. First we will give an example of the replacement value with a normal inventory: base stock value (ijzeren voorraadmethode). After this example we will explain the replacement value without a normal inventory. The function of the replacement value method is inventory valuation. Replacement value with a normal inventory How works replacement value with a normal inventory? An example of replacement value with a normal inventory is the use of a base stock. The base stock is the inventory which the company needs for a continued process of the company. The base stock can exist of a physical inventory and an economic inventory. The economic inventory consists of the physical inventory plus the orders and minus sales which are not delivered. The company has a price risk on the economic inventory.  [16]   The company can valued the base stock by the next three values: The price paid in the past; Or the lower buying price on the balance date; Or the lower net realizable value on the balance date. The base stock is valued by an established price. It is possible that the actual inventory differs from the base stock. There are two types of differences: a manco or a surplus. There is a manco when the actual inventory is lower than the base stock. The difference between the actual inventory and the base stock has the company to buy as soon as possible and must be valuated by the using the replacement value. The replacement value is the price which the company has to give if she buys today the inventory to solve the manco. There is a surplus if the actual inventory is higher than the base stock. The surplus must be valuated by using the minimum valuing rule. The company has to use the lowest of the following values: The last paid price (Fife method); Buying price on balance date; Selling price on balance date. The reason of this rule lies in the prudence principle.  [17]   This system doesnt take into account changes of the value of money. The system is used to determine the profit which can be pay out.  [18]   There is a profit on the selling on e. of 50 (e-/-b) and a profit on the selling on f. of 50 (f-/- 0,5c). The total profit is 100. Is it allowed to use the replacement value with a normal inventory? IFRS doesnt allow the use of the replacement value with a normal inventory. In the Netherlands has the Hoge Raad decided that the base stock method still acceptable is for the calculation of the taxable profit.  [19]   220.204 RJ says that a method which uses the economic inventory cant be a basis for valuation. 220.301 RJ prohibits methods which are using a normal inventory; one of these methods is the base stock method. The reason behind this idea is that the balance has to reflect the physical inventory. What are the disadvantages of this method? A disadvantage of this method is that it is difficult to make a definition of the normal inventory. Another disadvantage is that you have to deal with results of price speculation. The use of a normal inventory method leads to differences between the physical inventory and the normal inventory. This is sometimes confusing.  [20]   Replacement value without normal inventory The second method of using replacement value doesnt know a normal inventory. How works replacement value without normal inventory? Replacement value is the value which you have to give if you want to replace your asset for another asset with the same economic value.  [21]   If the price of the inventory increases you make a revaluation reserve with the same value as the price increasing. An example: Company Y has 1000 pieces as inventory. Every pieces has she has bought for 5 euro. The price increases to 6 euro. The company has to make a revaluation reserve for 1000 euro. (1000 x à ¢Ã¢â‚¬Å¡Ã‚ ¬1)  [22]   If the replacement value of the inventory decreases, than you must the change deduct from the revaluation reserve. If the revaluation reserve isnt big enough, than you must the decrease subtract directly from the profit- and loss account.  [23]   When is it allowed to use the replacement value without normal inventory? IAS 2 doesnt allow the use of the actual value, and implicit the use