Revenue Recognition And Theories of Accounting free essay sample

The Joint Project Revenue recognition requirements in US generally accepted accounting principles (GAAP) differ from those in International Financial Reporting Standards (IFRSs); the former consists of broad concepts whereas IFRSs contain fewer standards, but applying the two main standards to complex transactions were difficult and needed improvement (Australian Accounting Standards Board, 2010). Accordingly, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) initiated a joint project to clarify the revenue recognising principles and to establish a common revenue standard that would: (a)remove inconsistencies in existing standards; (b)provide a sturdier framework for addressing revenue recognition issues; (c)improve comparability across entities, industries, and capital markets; and (d) require enhanced disclosures (IFRS Foundation, 2010). The proposed new standard would clarify recognition, measurement and disclosure of revenue. If adopted, revenue would be recognised when goods or services, or both, are transferred to the customer (IFRS Foundation, 2011). In contrast, current approach to earning revenue is based on the income statement. We will write a custom essay sample on Revenue Recognition And Theories of Accounting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Impact of Revenue Recognition Revenue reporting directly  impacts an entitys results of operations and financial position, therefore any changes in the revenue recognition model can have a fundamental consequence on a company’s results. Accordingly, the proposed model could have a significant impact on several industries. For example, the recognition of revenue for the licence of intellectual property is dependant upon the customer obtaining control of the asset. The proposals may result in some entities recognising revenue over the term of the licence instead of upon the granting of it, thereby delaying its recognition (PricewaterhouseCoopers, 2010). Importance of Revenue It is widely recognised that revenue is one of the most important items in financial statements and that revenue recognition is one of the toughest issues standard-setters and accountants face. Apart from its monetary importance, users of financial statements attach great value to revenue in making investment decisions on the basis of its trends and growth, evaluating the companys past performance and making predictions about its ability to generate cash flows in the future. Why has revenue been given such significance? Reflecting on this, the work of Hines (1988, 1991) can be considered. Hines stresses a perspective that ‘financial accounting practices are implicated in the construction and reproduction of the social world’, arguing that emphasising particular performance attributes such as profits, or elements like revenue which determine profits, gives legitimacy to organisations. Furthermore, Hines also adopted the view that accountants create the impression that things like revenue only exist once we decide to recognise them, thereby making them real-ised. Essentially it is we who have created revenue to be associated with transactions and events holding such significance and subsequently defining it as crucial in assessing performance. The Development of Models amp; Theories As for revenue recognition models, its development is supposedly grounded in the principles in the existing Conceptual Framework (CF) (Wustemann amp; Kierzek, 2005). The CF sets out major accounting objectives with concepts and general principles specified in the standards for particular types of transactions and events. The interaction of these and professional judgement can well be demonstrated in the area of revenue recognition, discussed later below. Although CFs are defined by the FASB as ‘a coherent system of interrelated objectives and fundamentals that can lead to consistent standards’, Hines (1989) suggested CFs are merely ‘a strategic manoeuvre for providing legitimacy to standard-setting boards and the accounting profession’. She believed the qualitative characteristics of comparability, completeness and consistency of accounting information could not be achieved due to the CF’s lack of theoretical foundation. The CF is an example of a normative theory of accounting because it prescribes guidance such as the qualitative characteristics financial information should possess, as contrasted with positive theories, which seek to explain and/or predict particular phenomena (Deegan, 2009). Both theories are developed on the basis of deductive reasoning, which relies upon the use of logic to develop arguments and related theory. Although typically all research and theories are value-laden, the prescriptive nature of normative theories means more value judgement and social biasness is involved in its development, which may be a reason for the apparent functional failure of CFs. Raymond Chambers (1957) was a distinguished contributor to normative theory; he developed the Continuously Contemporary Accounting theory that describes how financial accounting should be undertaken, suggesting that the most useful information about an organisation’s assets for the purposes of economic decision-making is information about their ‘current cash equivalents’. Alternatively, positive theories begin with some assumptions and, through logical deduction, enable explanations or predictions to be made, typically evaluated by considering how well these relate to actual observations. Watts and Zimmerman (1978) developed the Positive Accounting Theory, which seeks to predict and explain why managers prefer adopting particular accounting methods, but neither guides us nor tells us anything about current practice’s efficiency. Contrastingly, going backwards, early development of accounting theory relied on descriptive research based on the process of induction, which is the development of ideas or theories by codifying common accounting practices based on observation. Paton and Littleton (1940) were two notable theorists who supported this form of research. They introduced the revenue and expense view, which proposed recognising revenue when it is earned or realised and matching the related costs with those revenues, assuming profit accrues throughout the entire earnings process. As a result, accounting income does not have an intrinsic definition and is operationally defined as the result of applying those principles. However, standard-setters have since proposed changing from the revenue and expense view to the asset and liability view, which somewhat restricts the application of the realisation principle and the matching principle, in order to curb arbitrary judgements and to achieve a more consistent income determination (American Accounting Association). Shifts in Theory Evidently over several decades there have been shifts from one theory to another, such as from early positive theories to normative theories of accounting, and more specifically, from an income statement approach to that of a balance sheet-driven model for revenue recognition. In explaining the reason for this, consider Kuhn’s (1962) explanation of how knowledge development is revolutionary, whereby one theory is replaced by another as particular researchers denigrate an existing paradigm and advance an improved alternative. Principal to this conversion is the role of value judgements and the individual value systems they are founded on. Different researchers work from different paradigms that provide greatly distinct perspectives on the topic of research, based on their respective value judgements. Thus, any changes in their value judgements alter their paradigm, enabling them to gain insight into and possibly become proponents of newer concepts that they see as superior. The role of value judgements is pervasive in all choices and conclusions. In accounting for organisations, since many transactions and events are incomprehensively addressed in the standards, managers and accountants must often use judgement when applying accounting standards. The reliance on principles over rules results in an inconsistent application because it allows management to exert judgement differently in identical cases through the choice of dissimilar accounting methods (Wustemann, 2010). Another reason for the shift from different accounting models could be to improve accounting standards and the credibility of accounting itself (Heffes amp; Orenstein, 2005). Accounting standards and measurement principles, and hence financial statements, are full of management estimates that are the result of differing value judgements or attempts to structure transactions to attain a specific accounting result rather than properly reflecting its economic substance. This has led to accounting losing its integrity and true purpose of communicating relevant and reliable information. In the case of sub-prime mortgage loans and the sale of their cash flows through collateralised debt obligations (CDOs), the assumption that real estate prices would continue to rise was shown to be a false assumption, estimates of default rates were too low, and the adequacy of credit enhancements was overestimated (Walters, 2008). Financial statement information, based on these flawed estimates and assumptions, was only proven to be wrong when real estate prices began falling, leading to the collapse of the sub-prime mortgage market. Thus, the development of newer accounting models and standards aim for the specification of particular accounting treatment resulting in financial information that more accurately reflects a company’s position and performance. It aspires to increase the efficacy of the accounting function and prevent the occurrence of similar crises. Conclusion This essay explored the reasons for the emergence of the IASB-FASB joint project on revenue recognition as an attempt to improve financial reporting by clarifying the principles for recognising revenue and creating a single joint revenue recognition standard that companies can apply consistently. The proposed revenue recognition model could have a significant accounting impact for several industries because of revenue being one of the most important indicators of a successful business, which directly affects financial results. The reason for revenue being pivotal may be merely due to the emphasis given to it as a key performance attribute that signals justification of support for particular organisations, as suggested by Hines. Concerning revenue recognition models, their development is apparently based on the essential elements of the CF, which are thoroughly discussed by standard-setting constituents, broadly understood and generally agreed upon before issuance of related standards. However, the CF has been viewed as failing technically and functionally, its purpose seemingly ‘to assist in socially constructing the appearance of a coherent differentiated knowledge base for accounting standard’ (Hines). Revenue recognition models have thus gone through several changes due to ongoing discussions surrounding the appropriate accounting treatment of revenue and the value judgements underlying those dialogues. Such modifications endeavour to promote accounting standards’ and principles’ credibility, to assist the accounting profession recover from scandals that have led to its reputation being questioned.

Analytical Essay Sample on #8220;The Importance of Being Earnest#8221; by Oscar Wilde

Analytical Essay Sample on #8220;The Importance of Being Earnest#8221; by Oscar Wilde Oscar Wildes farcical comedy The Importance of Being Earnest is subtitled A Trivial Comedy for Serious People. The playwright himself penned this, so the reader is inevitably inclined to ask himself whether this deprecating subtitle is accurate. Despite the simple humor, the play is not trivial, but rather a biting and relevant social commentary on Victorian era values and principles that undoubtedly serious people can decipher within the lines of the comedy without feeling threatened about their own beliefs. In fact, the title of the play alone gives the reader some inclination as to what the story is about; the importance of being serious and resolute, which not coincidentally are two of the most important Victorian ideals. First performed in London in 1895, The Importance of Being Earnests plot centers on two couples who must overcome many hilarious obstacles on their journey to marriage. The play was critically acclaimed from its first performance and was instantly accepted by the public; a foreshadowing of the stories timelessness. Underlying the story line, Wilde illustrates the polite conventions and restrictions of Victorian society (Worth 126). This is aptly by Wilde in his droll depictions of aristocratic British men and women at the end of the nineteenth century. Despite his critical tone, Wilde does not alienate the members of his audience, but rather sheds light on the absurdity of societal traditions, such as courtship, engagement and marriage, while at the same time reaffirming the beliefs of his audience. To explore Wildes criticism of the absurdity of British culture and its implications in modern life, one must first examine the characters and plot of The Importance of Being Earnest. The two central figures are Jack and Algernon who are friends in spite of their seemingly artificial oppositions. Jack is a responsible, serious man who firmly announces his intentions of marrying Gwendolyn from the very beginning of the play. Algernon, on the other hand, is depicted as a sly, deceptive, yet likeable man who according to his aunt, has nothing, but looks everything (Wilde, act 3, 497). The two men, who the audience later discovers are brothers, are actually not as different as they first appear. Outwardly, they act very differently and constantly criticize one another on his actions, but in reality, both have the same ulterior motive and acts solely for his own benefit. Jack pretends to have a brother so that he may travel to London to see Gwendolyn. Similarly, Algernon, despite his claim that marriage is extremely problematic (act 1, 446), pretends to be Jacks brother so that he may journey to the countryside to see Cecily, the girl he has never met but wishes to marry. Both men pretend to be named Ernest in order to impress Gwendolyn and Cecily (obviously another pun on the title of the play). Hilarity ensues in both action and dialogue in terms of what the characters continually call nonsense. Jack and Algernon both pursue women who could be labeled modern women (relative to the contemporary Victorian woman). Gwendolyn is well educated and very opinionated in her beliefs, as evidenced by her desire to not be labeled perfect because that would limit her intentions to develop in many directions (act 1, 441). Likewise, Cecily, while not as well educated, is steadfast in what she wants from Algernon, such as her insistence that his name be Ernest. Gwendolyn and Cecily create much of the comedic elements of the play through their relentless demands of Jack and Algernon. For instance, when in act three the women discover the deceptions of Jack and Algernon, they do not submissively forgive the mens antics, but rather refuse to speak to either man until he delivers an adequate explanation and apology. These young men about town and revolting daughters (15), called so by critic Peter Raby, create a distinct dichotomy to the stern Lady Bracknell and Miss Prism, Cecilys governess. There is a sense of old society versus new society whenever Jack, Algernon, Gwendolyn, and Cecily interact with the older characters. As Gwendolyns mother and Algernons aunt, Lady Bracknell is excessively concerned with image and money. When she hears of Jacks desire to marry Gwendolyn, she questions him about his financial wellbeing and his personal habits. She is offended when she discovers that Jack has been adopted because it displays contempt for the ordinary decencies of family life (act 1, 450). Despite Jacks protest that his parental status has nothing to do with Gwendolyns happiness, Lady Bracknell refuses to give her approval of the engagement because in her superficial world, everyone is forced to live in an age of surfaces (act 3, 495). To Lady Bracknell, marriage has nothing to do with love and affection, but rather solely relies on the respectable social image that is created. Lady Bracknell is the stereotypical Victorian woman whose utmost concern is outward appearances and societal impressions. Money, status, and manners are the only necessities in life, without which one is destined to become associated with the detestable lower classes. In addition to Lady Bracknells archaic beliefs, Miss Prism and Doctor Chasuble also illustrate conventional Victorian ideals. It is evident that the two are in love, but repress their emotions because unruly behavior is not proper. Their relationship is an obvious contrast to Jack and Gwendolyns and Algernon and Cecilys, who admittedly are guilty of nonsense and reckless extravagance (act 1, 436). Surprisingly, in act three, the audience discovers that Miss Prism is the author of a novel of revolting sentimentality (act 3, 502) and more shockingly is an unwed mother. These revelations about Miss Prism blatantly contrast with Victorian acceptability. In spite of her deviations, Doctor Chasuble professes his love for her. This is yet another way in which Wilde portrays modern relationships and love. With his depictions of Bracknell and Miss Prism, Wilde creates an obvious paradigm between what a proper woman should be. Through their characters he is mocking the Victorian standard for woman because the audience can see that Gwendolyn and Cecily are truly the better women in thought and action. These ground-breaking elements contrast and spoof Victorian ideals, yet are subtle and humorous enough that the audience (especially at the time of the plays debut) is not offended by the plot or the characters. In todays world, there is nothing offensive about The Importance of Being Earnest, but it is necessary to keep in mind that compared to contemporary plays and novels, this is somewhat more modern. It still has the classic elements of a story line of that period: male-oriented, god-fearing, white, moneyed, and aristocratic (Raby 7). Although a majority of the characters live entirely for pleasure, the audience can still relate and enjoy the play. In such a hierarchical society where white men dominate, Wilde is careful not to offend or marginalize his target audience while launching a social critique. According to interviews (taken at the time of the plays production), Wilde adamantly insisted that The Importance of Being Earnest is not realistic because Realism is only a background, it cannot form an artistic motive for a play that is to be a work of art (39). In other words, reality has no bearing in his art, which perhaps is why he included the word trivial in his title. However, in relation to the play, is it accurate to say that reality is completely separate from art? Obviously Wilde recognized the absurdity of Victorian culture; otherwise, he could not have created a play whose humor is so relevant to both its contemporary and present-day audiences. The dialogue between characters, not the actions, is what makes The Importance of Being Earnest so humorous and transcendental (77). The characters revelations are true and consequently the farce is extremely comical. The Importance of Being Earnest set many precedents. It is one of the first plays to deal with modern issues, such as the New Woman. Wilde influenced many other artists to explore and critique societal norms and their ridiculousness. The Importance of Being Earnest will withstand the test of time through its satirical comedy and relevance to all audiences, because all audiences and readers, regardless of the time period, can relate to love, marriage, and the absurdity of society.

CNA Code of Ethics Essay Example | Topics and Well Written Essays - 750 words

CNA Code of Ethics - Essay Example The Canadian Code of Ethics The Canadian Code of Ethics for Registered Nurses plays a vital role because it reflects the involvement and nursing’s interest towards social justice by laying down corresponding ethical responsibilities and primary values which nurses who are registered in Canada are supposed to uphold in their course of duty. The Canadian Nurses Association Code of Ethics for Registered Nurses also comprises of statements with ethical issues which nurses may undertake in order to address social inequities that affect the well-being and health of their clients. The Code of Ethics plays a vital role for Canadian Registered Nurses because it contains ethical practice which stipulate that nurses should work with families, individuals, groups, communities and populations in order to expand the health care choices available and become aware that some individuals have limited choices due to geographic, social or economic factors, the lead to inequities (CNA, 2009). Soci al Justice Social Justice refers to the fair distribution of responsibilities and resources among the members of a given population taking into consideration the relative position of a given social group as compared with others in the community or society as a whole. Social justice also considers the major causes of disparities and the steps that can be taken in order to abolish or eliminate them. The term â€Å"resources† according to the concept of social justice in health and health care refer not only to the direct services but rather to other facets of life which can a have a positive impact on health, like for instance, gainful employment, food security, adequate income, a social safety net, adequate education and social inclusion. According to the Canadian Nurses Association (CNA), these are collectively referred to as the factors found in the social environment which are external to the system of healthcare and which are known to exert a primary and potentially change able influence on the health of various populations. To take action meant for social justice implies attempting to reduce differences occurring on a system wide basis in which certain groups of disadvantaged people are prevented in getting equal access to health care services and the determinants of life (CNA, 2009). On the other hand, Social Justice in Health Care also implies working with the aim of preventing practices which are oppressive such as discrimination of people based on sexual orientation, age, gender or any other factors that comprise the wealth and health of an individual. Social justice can therefore occur on a one-to one interaction between healthcare providers in a health facility themselves or between a patient and the nurse. Social Justice is a Nursing Concern Social Justice is a nursing concern because given the fact that all societies are known to suffer from systematic, broad oppression and inequities, these are bound to have a negative impact on both an indi vidual and the communities’ health. The equity of societal relationships that are based on gender, race and economic status will result in the stability of health population indicators between the various groups, leading to national and international positive outcomes. It is therefore in this same breadth that the professional in the nursing organization endeavors to ensure that no person who is receiving health care is subjected to oppression or discrimination of any form through the

Ethical Argument Essay Example | Topics and Well Written Essays - 1250 words - 1

Ethical Argument - Essay Example Even so, Pope (530) warns against embracing such social change without understanding what is at stake. Despite the results of the opinion poll, only a handful of the American states allow the marriage between couples of the same sex with others reversing their earlier stand supporting the union. This could be an indication of the fact that this form of union goes against certain expected standard social norms. Therefore, same-sex marriage is socially deviant and should not be legalized. Civil marriage refers to a legal contract or social unions between two persons with the government, through its officials, performing, recording and recognizing it (Corvino and Gallagher 11). Marriage accords the couples exclusive rights and benefits. However, same-sex marriage brings forth a myriad of symbolic, religious and constitutional questions that has caused a continuous intense debate on the legalization of same-sex marriage (Pope 530). Gertsmann cites the Marriage Act 1961 which was amended in 2004 that defines marriage as the union between a man and woman and excludes all the others (15). This excludes same-sex marriage from being considered as marriage, a fact that has caused same-sex activists to push for change for their recognition in law. The case against same-sex marriage revolves around religious, moral and health concerns. By prohibiting homosexuality, a majority of religions, by extension, prohibit same-sex marriage. A majority of Christians argue that same-sex marriage is immoral and goes against the will of God and the reason of procreation that saw Him put man and woman together (Pope 533). In fact, Christians quote God talking of such a union as detestable in the Old Testament. Islam also prohibits same-sex marriage noting that the reason why Sodom was destroyed was because of such sins. Similarly, Hindus oppose same-sex marriage noting that for every soul, there exists another soul mate of the opposite sex. Since sex may

Healthcare Costs in Canada: An Analysis

Healthcare Costs in Canada: An Analysis Canada is one of the most advanced economies in the world. It is a member of the G8[1], the group of the richest nations on earth. It is also a member of the Commonwealth of Nations[2], which historically is a group of nations that were under the former British Empire. It also has one of the best universal health care practices in the world. Lately however there has been a noted rise in the cost of universal health care. It was also noted that these rise in the cost will eventually be a bane in the government as it will hamper the government’s ability to provide adequate service to other important service of the government like education, transportation and pension benefits, which are all equally important as health care. The Canadian Medical Association therefore got a poll among Canadians to determine and rather get their opinion on how the government can prevent skyrocketing cost in health care without sacrificing the quality that is currently being enjoyed by the citizenry. This particular poll showed that most citizens that have been asked are in favor of fixing the system or looking for ways to maintain the quality of their health system. According to the poll, nearly half of the respondents favored an increase in taxes provided it goes to improving the health care and nearly half also agreed that a portion of the bill should be footed by the patient. A portion of those polled suggested that those who are living unhealthy lives should be penalized and those with good healthy lifestyles will be rewarded. The biggest surprise in the poll showed that 69% suggested that a contribution based system much like the pension system is developed and almost the same no of people suggested that it be patterned after the retirement system. Overall though most Canadians would rather not raise their taxes but rather have these two types of systems be applied to the health care system to address the skyrocketing costs of health care which seems unsustainable in the lo ng term. This poll was taken to determine whether Canadians were open to the idea of helping the government curb the unsustainable rise in health care cost and what would be their ideas on how the government should deal with this problem. This also shows the government is proactive and that it is determined to maintain the highest standards of health care for its populace. More importantly it shows that the people are willing to take part in shouldering the expense of the government when it comes to health care and this is proven in this poll in that nearly 70% of those polled have ideas on how to make the health care system be as functional and as efficient as possible. This finding would enable the government to formulate policies that would sustain their universal health coverage at the highest quality levels of care and sustaining it and containing the skyrocketing costs of health care. Once this policy is adopted other countries which have universal health care supported by the governmen t with similar problems of skyrocketing costs may adopt this system and modify it to suit the needs of their constituents. One of the options that came out of the poll conducted by the Canadian Medical Association on how to fund health care spending is the development of a savings system similar to the pension facility that it has in place. This will serve as a buffer fund for those medicines and laboratory tests and other services that are not covered by the health care system. It is one way of encouraging people to shoulder some of the expenses of their health bill without burdening them with the high costs as this will be gradually deducted from the income that they make and it can be deducted either on a monthly basis or a quarterly basis whichever would be more convenient to the patient. This would be much better than raising taxes as raising taxes usually denote a negative impression on the populace. This scheme would encourage the populace to save as they know it is something that they can use in the event that they get sick and it won’t be a burden to their pockets as they know it is for a good cause. Furthermore, it would help the government maintain the high quality of care for the patients without sacrificing the other services that would be affected by increasing the funding for health care. It is because if the government were to shoulder all the costs for health care, one of the ways is to either increase taxes which is unpopular or decrease the budget of other sectors and pour it into health care which is also unpopular among the populace so either way the constituents will suffer. Coming up with this idea would be meeting the government halfway and that the populace will also be an active part in maintaining the quality of health services. Likewise the amount that the patient will be giving will be predetermined by the government and that it would not appear that the patient will be shouldering a big bulk of health care costs. It should also be bracketed as to which cost will the patient shoulder or it can be a universal one, meaning the patient will shoulder whatever is not covered by the health system. This would help maintain the high standard of care to the patient without burdening the patient and without additional cost to the government and no other service need be sacrificed. All in all it would be good for everybody, all that are involved in health care. One of the measures that the government can use to encourage people to shell out a little extra money for health care is giving them tax benefits instead of increasing their taxes. How will this be done? For every amount that the patient gives to his/her health fund, this will be deducted from their taxes that are due to the government. This way it is certain that the money they spend is for their future use in health care. Another way of tax benefits are for healthcare facilities like clinics and hospitals be given tax incentives if they invest in new technology and purchase new equipments for better health care services. This would encourage clinics and hospital alike to invest in newer technology without thinking of passing the burden of recovering costs to the consumers. The first thing that comes to mind in buying newer equipment and technology for better health care is the cost and how long it would take to recover the investment. One of things that would help the price of newe r equipment is taxes and once these taxes are turned to incentives it would be cheaper for the investor to buy these equipment and it would not be a burden to the consumer the cost of this newer technology. Another way of containing the skyrocketing cost of health care is to regulate payments to caregivers. Regulating means setting a uniform set of charges or fee for a particular service being rendered to the client. One of the reasons costs of health care is skyrocketing is because most caregivers demand a higher compensation which is unregulated. These costs are passed on to the consumers thereby making the cost of health care services to rise. The most common reason for the demand of these caregivers for increased fees is that they are not paid commensurate to the services that they offer or give. This can be remedied if the government and the service providers come to and agreement on what is the proper amount that the service provider is given without degrading their capacity and without burdening the consumer with high costs. In short, they should meet halfway after all they have the common goal of giving the best care to the patient without necessarily coming at a high cost. Furt hermore, these caregivers are also future patients themselves and it would a big irony that they would be complaining of the high cost of services that they once demanded. Hence, it is but practical that the cost of payments to the caregiver be regulated by the government at an amount agreed by all parties involved. With the growing cost of health care and the prospect that the client will eventually shoulder part of the expenses it is but logical that the clients income should also be increased. This may come in varied forms like tax incentives, performance incentives or it may come in other non cash forms like allowances or other means possible that will enable the client to have more money to spend other than health care. Incentives on healthy lifestyle were one of those mentioned in the poll conducted by the CMA and penalties for those who are not living healthy lifestyles. Although only a small percent agreed to this it is noteworthy that some of the respondents agreed to this. If this scheme can be properly though of and all affected parties be allowed to air their side. An agreement will be made and this will be one form of additional income for the client. Those who will be having healthy lifestyles will be given incentives and those who are not will be penalized. It will also encourage people to live healthy lifestyles. But then again if improperly implemented people may think of it as an authoritarian form of enforcing health policies. Aside from these incentives, other forms of income supplements should be studied so as to keep the health system in good condition, meaning service are not affected and the client are not burdened by the increasing costs of health care. [1] The CIA World Fact Book. (www.cia.gov/library/publications) [2] Annex b: Territories forming part of the commonwealth her majesties civil service 1911 (www.civilservice.gov.uk)

The Act of Valor

The Act of Valor Today’s society consists of a diverse human race that shares a common goal, to live life to its fullest potential. In the film, The Lord of the Rings: The Fellowship of the Rings, the main character, Frodo, is set out on a quest to destroy the ring that has long acquired the presence of evil. On his quest to destroy the ring, he encounters many challenges. His challenges consists of keeping the ring safe from the evil ones who want it back, making sure the ring gets to the destination, and keeping his life safe from harm.Along his journey, he is joined by a couple of his friends, all of which he must learn to trust, in order to destroy the rings that possesses evil. They are faced with the challenges to keep safe from Saruman and his orcs, the black riders, and Sauron’s soul. Throughout his journey, his qualities of a hero show. He owns the qualities of resilience, determination, courage, trust, and heroism. Without the qualities he possesses, it would have been an impossible task to complete. Frodo faces many challenges as he tries to destroy the ring.Those who seek to retrieve the ring are out to murder him. Without the help of his friends and those who care for him, he would not have stayed alive. Through his courage and determination, he shows that he can be trusted to be the one that destroys the ring. He is equipped with many qualities that help him complete the task. His optimism brought the strength he needed to succeed. As individuals in today’s society, we face many challenges in our lives. Yes, challenges can bring us down, but it also makes us stronger.Some of us are faced with challenges such as being able to survive, fighting cancer, being the first to go to college, being able to pay for bills, etc. Nevertheless, each of us encounters challenges that help shape and develop our lives. Challenges are not meant to kill anyone, but instead they are meant for people to reach their full potential in being able to f ind the answers and strength to be able to overcome the challenges we face. Each of us is born for a reason. It is impossible to tell what out fate is, but as time goes by, we start to find out just what our mission on Earth is.Frodo possesses the qualities of a Hero Archetype. Being a determined, resilient, trustworthy, and courageous individual, he is one that pleases everybody. Frodo never quit with being able to destroy the ring. Although he faced many challenges along the way, he managed to stay strong. He witnessed Gandalf’s death, he was nearly dead, and he had to leave his home to complete the task, but despite all that he encountered along the way, he managed to be determined. There were many negative effects on Frodo, but he maintained his composure and stayed optimistic until the end.Each of us has been knocked down multiple times by school, work, or simply the stress that we all face. Being knocked down is for us to realize what we need to do to get back up. Deter mination is the key to withstanding any negative effects on life. If we have a positive outlook on life and how our future will be, we can start to be heroes of our own lives. Frodo’s goal was to destroy the ring. Facing the challenges that follows as he is on his journey may impact him. By being determined, his goal to protecting the ring from the evil is reached.In our lives, we have many goals in life that we want to reach. We make mistakes here and there, but we learn from them and grow stronger. By being determined and positive, we can make sure our goals are reached. During Frodo’s journey, his friends and individuals who help protect him from those that want to retrieve the ring from him accompany him. They guide him in his journey to find his way safely. They are there to protect him from the evil that surrounds him. During our lives, we befriend many individuals who help us with our future.These friends of ours, are people we trust, turn to when they are in ne ed, or simply to have a sense of security. Just like Fordo being accompanied by his friends, we have friends we turn to when we need them. Frodo’s task is to protect the ring from the evil black riders that want it back. As he is on his journey, he makes many decisions that help him and his friends stay alive. The critical decision making that he makes throughout the film are vital in order to keep the ring in his possession, as well as stay alive.We are faced with making decisions that are crucial to our future. Without making the best decision, we cannot be successful in our lives. Frodo’s decision making made it possible for him to succeed. The Lord of the Rings: The Fellowship of the Rings, is not just a film, but it also shows its comparison to today’s society. Frodo faces many challenges while he is set out on his quest to destroy the ring. Each of us, face challenges in our life that make it difficult for us to succeed, but by working extra hard, we can m anage to overcome any challenge.Also, Frodo makes vital decisions that help with the safety and survival of Frodo and the group of followers. We face many points in our lives that consist of valuable decision-making. Those who want to protect him, as well as his friends accompany Frodo. During our lifetime, we befriend many people who become treasures to our hearts. Being able to have people we can turn to and trust is truly amazing. The film shows many relations between reality and how the movie is portrayed. As Frodo is on his journey to destroying the ring, he shows great heroism that is noticed by many.

Over Reliance on Technology Essay

It’s 2010 and the human species as we know is in a monumental technological crossroads. Globally, we have defined the age of technological and industrial growth. As a whole our society has always been improving on all of the technological inventions to provide the general public with seamless automated and convenient applications to our personal and work life. In the age of pin size microchips and artificial intelligence the sky is the limit to our advancement of faster and more integrated technology. We as a society have embraced all of the new technological advancements and have integrated it throughout all aspects of human life. This over reliance on technology has taken away an aspect of human interaction that is vital to the way we have conducted ourselves in the past. It brings up many questions about the role technology is playing in our everyday lives. We seem to be on the constant search for ways that reduce the time worked. I-phones, Blackberry and other communication devices are always getting faster and more integrated. Specifically, the I-phone has applications that can be downloaded pertaining to just about anything. There is an application that can be downloaded that connects your I-phone to your house’s burglar alarm as well an application that can cipher passwords for alarm systems as well. Yes, I agree that this is the direction we have been catapulted in and it seems like there is not a safety net for us. Reliance on technology simply means that our personal world cannot function without the use of technological devices. According to a study done by National Public Radio, 68% of Americans say that they use a computer on the job. Of those 68%, 84% say that the use of a computer is crucial to their job being completed. (Mcphilson) A great example showing how technological advancements have taken away the human interactive experience involves the insurance industry. According to an article by Ara C Trembly, he explains how new customer service technology implemented by the major insurance companies across the United States has failed to live up to the satisfaction of the majority of these companies clients. He states â€Å"For example, at the beginning of this decade. Customer relationship management (CRM) technology was all the rage in insurance circles with carriers falling over each other trying to get (CRM) systems  implemented within there companies. As many now know, (CRM) was-on balance- a colossal flop in the insurance industry. It was a fully automated system that led clients through a corn maze of automated directions for the client. This idea was not accepted by the customers as a whole. It caused great confusion and landed most of the companies in hot water with there clients.† (Trembly) The main reason for the (CRM) failure was the lack of guidance for the clients and not being able to connect to a live representative in a timely manner to discuss there financial inquiries. The program was doomed from the beginning. What the insurance industry failed to realize was that the same visceral human interactive experience that secured the clients in the first place was being replaced with a robotic voice that cannot be spoken to. The public in general rejected this technological advancement due to a lack of human interaction. Further defending the viewpoint that over reliance on technology can be detrimental, an article by Shankar Vedantam explains what he describes as the â€Å"automation paradox†. He shows how disaster may erupt from over reliance on technology meant to minimize human error. Although, mainly addressing automated systems such as cruise control, he cites a cruise ship accident in which crewmembers were so trusting of their GPS that when the device accidently disconnected, the crew did not notice and simply followed the emergency plan route. He says â€Å"The problem is when individuals start to over trust or become complacent and put too much emphasis on the automation.† (Marcellus) It shows how we have become so reliant on technology especially, GPS, that we are not trained to detect if the information being relayed to the transmitter is correct or not. Back in the old maritime days before GPS and radar were available the captains and crew of all of the big ocean liners were well versed in charting maps, currents and reading compasses. The innovation of radar and sonar helped the skippers chart there courses more precisely. The invention of GPS basically allowed for complete course charts with limited crew interface. The GPS program would chart, estimate  fuel consumption and engage in autopilot so the duties of the maritime crews changed. The training is now eased with the use of computers and GPS. The real math calculations and degree settings that the crew would work as a team to produce is now being produced in seconds, not always correct I may add by a microchip and satellite. Humans are regressing in education and knowledge due to the over reliance on computers and technology. We seem to be embracing all of these technological advances without fully understanding the long term ramifications of this decision. We are constantly seeking out short term gains and improvements without really taking into consideration the whole big picture for future generations. As the absolute most vital connector we own, our computer as a tool is an amazingly useful aid. It has helped architects and engineers design and provide more reliable, interesting structures and buildings. It has allowed us to split atoms and categorize the human genome. Completely take the guesswork out of business intelligence and product demand curves. It even allows us to exchange money in the form of bits and bytes instead of actual paper money changing hands. As a foundation for an important economic pillar in our country we may heading for trouble. It is well known in the IT community that any computer can be hacked into. A question arises with amount of trust that you should put into this technology knowing that at any moment your computer could compromised by hackers and wrongdoers. We as a society have reached our capacity on our electrical grids. Being so reliant on electricity to run all of our new technological devices it sounds like a rather simple idea on how to bring down a modern day society. Cut the electric off. Talk about being thrown back into the early 1800’s real quick. As our thirst for electricity increases and our infrastructure fails to keep pace with demand we will be ultimately be forced to live like the pre-electric 1800’s era people. We as species have become very sedentary and non motile with all of our technological devices that make our lives easier but less interactive. The price we pay as a society will be enormous. Instead of trying to make our lives easier we should be developing ways to make the species as a whole more adaptative to new technology without losing the human interaction. (Technology Reliance) Maybe when it is all said and done we should have taken some meaningful advise from our Amish brother and sisters. According to an article by James Surowiecki of Technology Review â€Å"Amish people are less likely to have depression and are consistently happier than the rest of society. This is partly due to the strong community ties ,stable families and unchanging faith. Not believing in modern technology such as the Amish people believe made for reliance on there fellow man instead of a Blackberry. Towns would get together and build houses for the residents and providing what was needed to maintain a fruitful happy life. (Surowiecki) The Amish people make for a strong argument that technology does not have to be over relied upon. In conclusion, technology as we know and understand it is always compounding on itself. We as a society need to embrace the advancements of our great inventors but never forget the process it took to get that point. Technology without education is pointless. We can overcome this dilemma by not letting education standards go by the wayside while our technology races to infinity. Works Cited Page Marcellus, Jill. â€Å"Misled by GPS, Careless Drivers Reveal Dangers of Over-Reliance on Technology.† 30 July 2009. finding Dulcinea. . Mcphilson, Susan. National Public Radio. 28 July 2010. . Surowiecki, James. Technological Reveiw (2010). Technology Reliance. 6 July 2010. Trembly, Ara C. â€Å"Over Reliance on Technology is an Ever-Present Danger.† 18 August 2009: 2.