Indigenous Australian Philosophy Essay

While a variety of factors have shaped the diversity of Indigenous Australian philosophy and prac? ces across the Australian con? nent, one of the central characteris? cs of the Aboriginal worldview is the concept of the ‘Dreaming’. Outlinesomeofthekeyaspectsofthisbeliefsystemandre#ectonthisin comparison to your own worldview. THE DREAMING LAID DOWN THE PATH FOR THE ABORIGINAL WAY OF LIFE, AND IT DICTATES THEIR KNOWLEDGE, FAITH, LAW, BEHAVIOUR AND SOCIETAL CUSTOMS. IN AUSTRALIA, THERE ARE MANY DIFFERENT ABORIGINAL CLANS, EACH ABORIGINAL CLAN HAS THEIR OWN INTERPRETATION AND NAME FOR THE DREAMING. EVEN TODAY ABORIGINAL PEOPLE ARE CONNECTED TO THE DREAMING THROUGH THEIR BELIEFS AND RITUALS. WHILST ABORIGINAL SOCIETIES MAY SEEM COMPLICATED TO AN OUTSIDER THIS BEAUTIFUL CULTURE FOSTERS A SENSE OF BELONGING, RESPECT, HARMONY AND CONSERVATION. THREE ASPECTS OF THE DREAMING ARE THE ANCESTRAL BEINGS, KINSHIP TO RUWI AND RESPECT OF THE LAWS. THE DREAMING CONSISTED OF ANCESTRAL BEINGS WHO ROSE FROM THE EARTH AND WATER, THEN TRAVELLED THE LAND SCULPTING THE EARTH. THE ANCESTRAL BEINGS TOOK ON THE FORMS OF HUMANS, ANIMALS, PLANTS AND EVEN COMBINATIONS OF THESE FORMS. THE ANCESTRAL BEINGS CREATED THE PEOPLE, PLANTS, ANIMALS AND KINSHIPS BETWEEN THESE KEY. MANY OF THE GEOGRAPHICAL FEATURES OF THE LAND CAN BE LINKED TO THE ANCESTRAL BEINGS, AND TO THE EVENTS PLAYED OUT DURING THE DREAMING PERIOD. THE ANCESTRAL BEINGS CREATED THE LAWS AND A PATH TO BE FOLLOWED FOR FUTURE GENERATIONS. THESE LAWS MUST BE FOLLOWED IN ORDER TO ENSURE A BALANCE AND A CONTINUATION OF LIFE AND HARMONY. FURTHERMORE, ABORIGINAL PEOPLE ARE DEVOTED TO THEIR LAND. WATSON EXPLAINS THAT ABORIGINAL PEOPLE DO NOT SEE THE LAND AS A COMMODITY THAT CAN BE OWNED OR SOLD, P a g e | 2. THEY ARE A PART OF THEIR LAND, AND THEIR LAND HAS ITS OWN SPIRIT. ABORIGINAL PEOPLE LIVE A STABLE AND SUSTAINABLE LIFESTYLE AND ONLY TAKE FOOD THAT IS NEEDED. WHEN FOOD IS TAKEN FROM THE LAND, THEY MUST GIVE THANKS TO THE LAND AS A SIGN OF RESPECT. ABORIGINAL CLANS WERE SEPARATED BY THE DREAMING AND HAVE DIFFERENT GEOGRAPHICAL LOCATIONS AND LANGUAGES, SO THEY DO NOT HAVE TO FIGHT FOR LAND OR FOOD. ABORIGINAL RUWI IS MARKED BY GEOGRAPHICAL FEATURES, WHICH CAN INCLUDE RIVERS, TREES, ROCKS AND PAINTINGS; THE PERIMETERS OF THE LAND ARE LEARNT THROUGH SONGS. THE DREAMING LAWS MADE ABORIGINAL PEOPLE CUSTODIANS OF THE LAND. THE LAWS DO NOT NEED TO BE WRITTEN DOWN AS THEY ARE LEARNED THROUGH THE LIVING OF THE LAWS. ABORIGINAL PEOPLE ARE GUIDED BY THEIR WAY OF LIFE THROUGH ELDERS, AND KNOWLEDGE PASSED DOWN FROM THE DREAMING. STORIES OF THE DREAMING ARE TAUGHT THROUGH ORAL STORIES, SONG, DANCE, RITUALS AND ART. THESE STORIES PASS ON THE IMPORTANT KNOWLEDGE, VALUES AND EXPECTED BEHAVIOURS. ABORIGINAL CHILDREN ARE TAUGHT THE DREAMING STORIES WHICH ARE APPROPRIATE TOR THEIR AGE. THESE STORIES SOCIALISE CHILDREN ON THE ABORIGINAL WAY OF LIFE. EDWARDS’S STATES THAT RELATIONSHIPS ARE ALSO DICTATED FROM THE DREAMING, THERE IS A COMPLEX KINSHIP ORDER AMONG ABORIGINAL PEOPLE. THIS ORDER DETERMINES A PERSON’S PLACE IN THEIR MOIETY. THIS KINSHIP SYSTEM ALSO DICTATES HOW FAMILY MEMBERS SHOULD BEHAVE TOWARDS OTHER FAMILY MEMBERS, WHICH HELP TO KEEP HARMONY AND AVOID CONFLICT. THE DIFFERENT PLACES WITHIN THE MOIETY ALSO DETERMINE A SUITABLE MARRIAGE PARTNER. FROM A WESTERN CIVILIZATION PERSPECTIVE, I ONLY KNOW MY IMMEDIATE FAMILY AND THE ABORIGINAL SYSTEM OF KINSHIP LEAVES ME FEELING THAT I MAY BE LACKING A GREATER SENSE OF SELF AND PURPOSE. YES, I CAN TRACE MY FAMILY’S GENEALOGY BACK HUNDREDS OF YEARS. THESE ARE NAMES ON PAPER WITH NO CONNECTION TO ME, AND I FEEL NO BOND TO THESE P a g e | 3 PEOPLE. THE ABORIGINAL SYSTEM OF KINSHIP FOSTERS A BOND TO EVERYTHING ON THIS LAND, WHICH CREATES A SENSE OF PURPOSE AND BELONGING. ANOTHER IMPORTANT POINT THAT WATSON IDENTIFIES IS THAT THE DREAMING LAW IS ABOUT LOVE, SHARING, RESPECT AND CARING AND THIS IS WHY THE LAND IS CONSERVED AND CARED FOR. I SENSE THAT WESTERN CULTURE NOW SEEMS TO BE BASED ON A SUPERFICIAL AND SELFISH EXISTENCE. I OBSERVE THAT WESTERN CULTURE IS FUELLED BY GREED, A DESTRUCTION OF THE ENVIRONMENT AND THE DEPLETING OF RESOURCES. I WONDER WHERE WE WOULD BE TODAY IF THE COLONISERS HAD LIVED IN HARMONY AND LEARNT FROM THE ABORIGINAL PEOPLE ON HOW TO RESPECT AND CONSERVE RATHER THAN STEAL AND DEPLETE THE LAND. I FEEL WE MAY HAVE BECOME A BETTER SOCIETY FULL OF APPRECIATION AND WARMTH. THE ABORIGINAL PEOPLE HAVE A CULTURE THAT BINDS THEM TO THE LAND AND TO EACH OTHER. IT CREATES A SENSE OF PRIDE; RESPECT AND ORDER FOR THE WAY THINGS HAVE BEEN, ARE AT THE MOMENT AND WILL BE IN THE FUTURE. EVEN THOUGH THE DREAMING IS INTERPRETED UNIQUELY BY DIFFERENT ABORIGINAL GROUPS, IT HAS CONSERVED THEIR SOCIETIES AND GIVEN THEM BONDS THAT HAVE LASTED THOUSANDS OF YEARS.

Hamlet’s First Soliloquy Essay

The tone of Hamlet’s first soliloquy begins as sad and depressed as Hamlet contemplates suicide. The tone changes to angry and bitter while Hamlet ponders the relationship between his mother and his uncle. Through Shakespeare’s use of diction and syntax he shows Hamlet’s disapproval of this relationship. In the first section of this soliloquy Hamlet is considering suicide but does not follow through with his thoughts because of religious reasons. This is apparent through Hamlet’s words, â€Å"or that the everlasting had not fixed his cannon ‘gainst self-slaughtered!† Shakespeare’s use of words such as flat, stale, and weary contributes to a tone of sorrow and sadness. The long, drawn out sentences also create a tone of distress. As an actor performing this soliloquy, I would act out this first section until â€Å"†¦seem to me all the uses of this world!† as a despondent tone. In the next section of the soliloquy Hamlet is angry with his mother because she married Hamlet’s uncle so soon after his father’s death. This section should be performed as incensed and bitter. It should demonstrate to the audience Hamlet’s disapproval of the relationship between his mother and uncle, as it is throughout this soliloquy. As Hamlet says, â€Å"So excellent a king that was to this Hyperon to a satyr.† he compares his uncle to his father. He also reminisces about the relationship between his parents when he says, â€Å"so loving to my mother†¦Ã¢â‚¬  Although Hamlet remains angry with his mother, he becomes sad as he remembers his father’s gentle and loving ways. This should be performed as thoughtful and reminiscent. The remaining of the soliloquy up until the last sentence, Hamlet becomes bitter as he says the marriage between his mother and uncle is founded on lust and sex. With Hamlet’s words, â€Å"she would hang on him†¦Ã¢â‚¬  informs the audience of his mother’s dependence upon men. Hamlet then compares his mother to a beast. This metaphor enhances the point of how quickly she was  able to recover from her husband’s death. The phrase, â€Å"incestuous sheets† suggests Hamlet’s knowledge of what had gone on between the two even before his father’s death. This section would be best performed as extremely acrimonious and angry. The purpose of this soliloquy is to notify the audience of Hamlet’s awareness of both his mother and uncle’s guilt. While he may not accuse his mother of murder, he does indict her of having an affair with his uncle before his father’s death. He claims their relationship his based solely on lust and sex. Hamlet concludes his soliloquy with his frustration in saying he cannot say anything nor do anything about his knowledge and disapproval of his uncle’s actions and relationship with his mother. This is a tone of not only frustration but perhaps even disappointed because he can not act on his feelings of anger.

Actions that the MLRO of BCD should take

Given that Radovan Rankovich (RR) is allegedly wanted by the authorities in the Ukraine for criminal actions against the state, and has received a recent transfer of ?15 million from a Corporate Service Provider in Cyprus, it is likely that this would warrant a disclosure to NCA for investigation. In accordance with this, the MLRO will be required to file a Suspicious Activity Report (SAR) with NCA and subsequently liaise with them to deal with this matter accordingly (Ellinger et al; 2011: 97). Part 7 of POCA makes it a requirement for banks to make a disclosure to NCA if they reasonably suspect that a person is involved in money laundering (s. 329). If the MLRO fails to make such a disclosure then he or she may be found criminally liable under this Act for a failure to disclose (s. 331). This is because a person commits an offence under s. 329 if they; acquire, use or have possession of, criminal property. Since a bank would fall within the scope of this section, it is possible that BCD Bank would be subject to criminal proceedings if they failed to take the appropriate action and thus make the relevant disclosures. If the MLRO does not believe that the grounds of suspicion are sufficient to report the matter to NCA, then the MLRO will be required to make further inquiries (International Monetary Fund, 2011: 65). Once the MLRO has made a report to NCA, the report will be ‘protected’ under s. 337 so that nothing in the report shall be taken to breach any restriction on the disclosure of information. Given that BCD Bank may have engaged in money laundering by allowing RR’s transactions to take place, they may have a defence under s. 338 if they make demonstrate that they made the disclosure as soon as possible. Similar provisions also apply under th e TA if the person is also suspected of terrorist financing. As Christian has received a text message stating that RR is wanted by the authorities in the Ukraine for criminal actions against the state, it is likely that the MLRO will also be required to comply with the provisions under the TA for a reasonable suspicion of terrorist financing. An obligation to report under the TA will therefore arise which means that the MLRO will be required to disclose the identity of RR, any information that relates to the matter and the whereabouts of the laundered property. There are two different types of report that may be made by the MLRO, namely protected reports and authorised reports. A protected disclosure is made by a person during the course of their trade, profession or employment. This type of disclosure is generally made by a person who is carrying our professional activities. An authorised disclosure is made by a person who is about to commit a prohibited act or has already committed a prohibited act (Bastable and Yeo, 2011: 108). Since the bank has already dealt with the property that is suspected of being laundered, it is more appropriate for an authorised disclosure to be made. The MLRO will also be required to obtain consent from NCA under ss. 335 and 336 to determine whether Christian can action any further transfers out of RR’s account. This will be done by making a ‘consent report’ to NCA, which will then block any transactions for seven working days. If NCA gives consent to the MLRO, the MLRO will then be able to give consent to Christian to carry out the transactions (Bastable and Yeo, 2011: 108). If NCA refuse consent, however, the proposed transactions will be frozen for a further 31 days, unless consent is granted during that period; R (on the application of UMBS Online Ltd [2007] WL 1292620. The Risks and Issues for the Bank This particular issue regarding RR is likely to be problematic for the BCD Bank as they will want to act in the best interests of their customer, namely RR, so that they remain in business with them whilst at the same time they are required to fulfil certain obligations imposed upon them by law. Because BCD will be required to disclose their suspicions even if RR has not acted in a criminal manner, this will have a damaging effect upon RR’s reputation and as put by Hislop (2009); â€Å"absent bad faith, little more than a â€Å"bad feeling† can trigger a banks disclosure obligations under POCA 2002, with in some cases catastrophic commercial consequences for the customer and a damning of his hitherto â€Å"good name† in the business community.† If the banks suspicions are incorrect, this can be significantly detrimental for RR. As such, the bank will need to be careful that they are striking a balance between the interests of RR with its duties to disclose . In the recent case of SHAH and another v HSBC private bank (UK) Ltd (2009) EWHC 79 (QB) the implications Part 7 has upon the rights of the individual and the banking business was clearly highlighted. Here, it was demonstrated that where a bank makes a SAR in respect of a suspicious transaction, they may not be provided with protection if the customer decides to challenge the banks suspicions in the future. This is so, despite the fact that a criminal offence may have been committed if the bank failed to make such a disclosure. Customers will have a right to challenge the banks suspicions with the bank then being required to prove that the suspicion was reasonable. It may be difficult to determine how the bank can justify making a disclosure since it was made clear by the court in this case that â€Å"the defendant must think that there is a possibility, which is more than fanciful, that the relevant facts exist. A vague feeling of unease would not suffice.† The bank will therefore be taking a risk in many any disclosure, especially this one since it will have to be shown that the text message was sufficient enough for a disclosure to be made. Furthermore, even if the circu mstances do render a disclosure justified, the bank’s decision may still be challenged which can be costly and time consuming. In K Ltd v National Westminster Bank plc [2007] 1 WLR 311 it was noted by the Court that; â€Å"to intervene between a banker and his customer in the performance of the contract of mandate is a serious interference with the free flow of trade. But Parliament has considered that a limited interference is to be tolerated in preference to allowing the undoubted evil of money-laundering to run rife in the commercial community.† Therefore, even though such a disclosure may interfere with the relationship between the bank and RR, such interference will be necessary if it will be likely to prevent money laundering from taking place. The bank needs to be clear that an interference of RR’s account is appropriate on the circumstances, since a frozen bank account for a period of time has in the past been considered a ‘grave injustice’ in the case of Squirrell Limited v National Westminster Bank plc (Customs and Excise Commissioners intervening [2006] 1 WLR 637. Here, the customer’s funds were frozen resulting in the customer being unable to afford the legal fees it would cost to challenge the decision. Therefore, if RR’s funds were frozen, which subsequently prevented RR from challenging the decision; it is unlikely that this would be deemed appropriate by the court. In accordance with this, it has been said that the test for suspicion is â€Å"a purely subjective matter† ( Medroft, 2010: 190). The decision as to whether the suspicion is reasonable will therefore depend upon whether Christian actually believed that the transaction was suspicious. If it cannot be found that this is the case, the interference cannot be considered justifiable and a breach of the customer’s human rights may also be established as in K Ltd. The bank will therefore be required to consider whether ‘reasonable grounds’ do actually exist, having regard to the elements constituting market abuse offences (Hudson and Hutchinson, 2009: 1). There are many inherent risks that are associated with disclosures and as such, it is vital that the bank is aware of its exact rights and obligations. In SHAH the court found that the bank did not act in an unreasonable manner which is likely to be the case in the instant situation. As such, it will most likely be difficult for RR to show that the bank had not acted in good faith. However, it could be argued that there was an unreasonable delay by the bank to make the disclosure under s. 338(2). As a result of this, the bank could be exposed to liability for breach of its duty of care (Medroft, 2010: 190). Whether this is acceptable remains an arguable subject but as expressed by Benjamin (2007: 62); â€Å"here the objective is not informed consent to risk but combating crime.à ¢â‚¬  Accordingly, it is therefore generally accepted that a bank’s interference will be justified on public policy grounds. The bank will still be subjected to many risks when making a disclosure, nonetheless, and must therefore consider whether the consequences of making a disclosure can be justified (Ellinger et al. 2010: 114). In addition, if the bank decides to make a disclosure, they must be careful not to allow the customer to find out as they can be found liable for ‘tipping off. This is another issue that may arise since a customer could become aware that a disclosure has been made simply due to the fact that their account has been suspended. It could be said that the bank is in a difficult situation as whatever option it takes, sanctions may still be imposed. As one judge noted in Governer Company of the Bank of Scotland v A Ltd [2000] Lloyd’s Rep Bank 271, 287; â€Å"the bank may commit a criminal offence if it pays or if it refuses to pay.† Furthermore, if the bank makes a disclosure based on its suspicions, which later turn out to be unfounded, the bank risks civil liability for breaching its contract with its customer (Ellinger et al: 2010: 114). This is because the bank will have frozen the customer’s account which would have prevented payments from being made in and out of the account. Because the banks have a significant burden imposed upon them when it comes to dealing with money laundering, some attempt has been made to ensure that banks acting in good faith will not face criminal liability. For example, it was held by the court in C v S [1999] 2 All ER 343 that â€Å"it would not normally be an abuse of process to prosecute a bank which was doing no more than obeying a court order for disclosure.† Still, it is necessary for the bank to consider all of the risks before considering whether to make a disclosure or not. Overall, it is necessary on the facts for the MLRO of BCD Bank to make a disclosure to NCA since it does appear that the suspicions are reasonable. This is based upon the transaction of ?15 million that was made recently as well as the text message that Christian has received. Whilst the bank would be required to examine the potential issues with disclosing such information and freezing the account of RR this appears necessary and in the public interest. It will most likely prevent money laundering activities from taking place and will ensure that Christian, the MLRO and the bank are complying with their obligations. References Bastable, G., and Yeo, N., (2011). Money Laundering Law and Regulation: A Practical Guide, Oxford University Press. Benjamin, J., (2007). Financial Law. OUP Oxford. Ellinger, E. P., Lomnicka, E., and Hare, C., (2011) Ellinger’s Modern Banking Law, (Oxford University Press. Ellinger, E. P., Lomnicka, E., and Hare, C., (2010) Ellinger’s Modern Banking Law. 5th Edition. OUP Oxford. Hislop, D., (2009). ‘Banks, SARS the Customer’ 159 New Law Journal 1099, Issue 7380. International Monetary Fund., (2011) Banking and Insurance, Business Economics. Medcroft, N., (2010). A Banker’s Liability for Damages Arising from Compliance with PT 7 POCA’ 4 Journal of International Banking and Financial Law 227, Issue 4. Medcroft, N., (2009). Refusing to Execute Payment Instructions Where a Bank Suspects Money Laundering. 4 Journal of International Banking and Financial Law 190, Issue 4. Hudson, D., and Hutchinson, K., (2009). Suspicious Transactions Reports: Reporting Obligations of Financial Institutions in the UK. Complinet, [Accessed 07 June, 2014]. Cases C v S [1999] 2 All ER 343 Governer Company of the Bank of Scotland v A Ltd [2000] Lloyd’s Rep Bank 271, 287 K Ltd v National Westminster Bank plc [2007] 1 WLR 311 R (on the application of UMBS Online Ltd [2007] WL 1292620 SHAH and another v HSBC private bank (UK) Ltd (2009) EWHC 79 (QB) Squirrell Limited v National Westminster Bank plc (Customs and Excise Commissioners intervening [2006] 1 WLR 637 Actions that the MLRO of BCD should take Given that Radovan Rankovich (RR) is allegedly wanted by the authorities in the Ukraine for criminal actions against the state, and has received a recent transfer of ?15 million from a Corporate Service Provider in Cyprus, it is likely that this would warrant a disclosure to NCA for investigation. In accordance with this, the MLRO will be required to file a Suspicious Activity Report (SAR) with NCA and subsequently liaise with them to deal with this matter accordingly (Ellinger et al; 2011: 97). Part 7 of POCA makes it a requirement for banks to make a disclosure to NCA if they reasonably suspect that a person is involved in money laundering (s. 329). If the MLRO fails to make such a disclosure then he or she may be found criminally liable under this Act for a failure to disclose (s. 331). This is because a person commits an offence under s. 329 if they; acquire, use or have possession of, criminal property. Since a bank would fall within the scope of this section, it is possible that BCD Bank would be subject to criminal proceedings if they failed to take the appropriate action and thus make the relevant disclosures. If the MLRO does not believe that the grounds of suspicion are sufficient to report the matter to NCA, then the MLRO will be required to make further inquiries (International Monetary Fund, 2011: 65). Once the MLRO has made a report to NCA, the report will be ‘protected’ under s. 337 so that nothing in the report shall be taken to breach any restriction on the disclosure of information. Given that BCD Bank may have engaged in money laundering by allowing RR’s transactions to take place, they may have a defence under s. 338 if they make demonstrate that they made the disclosure as soon as possible. Similar provisions also apply under th e TA if the person is also suspected of terrorist financing. As Christian has received a text message stating that RR is wanted by the authorities in the Ukraine for criminal actions against the state, it is likely that the MLRO will also be required to comply with the provisions under the TA for a reasonable suspicion of terrorist financing. An obligation to report under the TA will therefore arise which means that the MLRO will be required to disclose the identity of RR, any information that relates to the matter and the whereabouts of the laundered property. There are two different types of report that may be made by the MLRO, namely protected reports and authorised reports. A protected disclosure is made by a person during the course of their trade, profession or employment. This type of disclosure is generally made by a person who is carrying our professional activities. An authorised disclosure is made by a person who is about to commit a prohibited act or has already committed a prohibited act (Bastable and Yeo, 2011: 108). Since the bank has already dealt with the property that is suspected of being laundered, it is more appropriate for an authorised disclosure to be made. The MLRO will also be required to obtain consent from NCA under ss. 335 and 336 to determine whether Christian can action any further transfers out of RR’s account. This will be done by making a ‘consent report’ to NCA, which will then block any transactions for seven working days. If NCA gives consent to the MLRO, the MLRO will then be able to give consent to Christian to carry out the transactions (Bastable and Yeo, 2011: 108). If NCA refuse consent, however, the proposed transactions will be frozen for a further 31 days, unless consent is granted during that period; R (on the application of UMBS Online Ltd [2007] WL 1292620. The Risks and Issues for the Bank This particular issue regarding RR is likely to be problematic for the BCD Bank as they will want to act in the best interests of their customer, namely RR, so that they remain in business with them whilst at the same time they are required to fulfil certain obligations imposed upon them by law. Because BCD will be required to disclose their suspicions even if RR has not acted in a criminal manner, this will have a damaging effect upon RR’s reputation and as put by Hislop (2009); â€Å"absent bad faith, little more than a â€Å"bad feeling† can trigger a banks disclosure obligations under POCA 2002, with in some cases catastrophic commercial consequences for the customer and a damning of his hitherto â€Å"good name† in the business community.† If the banks suspicions are incorrect, this can be significantly detrimental for RR. As such, the bank will need to be careful that they are striking a balance between the interests of RR with its duties to disclose . In the recent case of SHAH and another v HSBC private bank (UK) Ltd (2009) EWHC 79 (QB) the implications Part 7 has upon the rights of the individual and the banking business was clearly highlighted. Here, it was demonstrated that where a bank makes a SAR in respect of a suspicious transaction, they may not be provided with protection if the customer decides to challenge the banks suspicions in the future. This is so, despite the fact that a criminal offence may have been committed if the bank failed to make such a disclosure. Customers will have a right to challenge the banks suspicions with the bank then being required to prove that the suspicion was reasonable. It may be difficult to determine how the bank can justify making a disclosure since it was made clear by the court in this case that â€Å"the defendant must think that there is a possibility, which is more than fanciful, that the relevant facts exist. A vague feeling of unease would not suffice.† The bank will therefore be taking a risk in many any disclosure, especially this one since it will have to be shown that the text message was sufficient enough for a disclosure to be made. Furthermore, even if the circu mstances do render a disclosure justified, the bank’s decision may still be challenged which can be costly and time consuming. In K Ltd v National Westminster Bank plc [2007] 1 WLR 311 it was noted by the Court that; â€Å"to intervene between a banker and his customer in the performance of the contract of mandate is a serious interference with the free flow of trade. But Parliament has considered that a limited interference is to be tolerated in preference to allowing the undoubted evil of money-laundering to run rife in the commercial community.† Therefore, even though such a disclosure may interfere with the relationship between the bank and RR, such interference will be necessary if it will be likely to prevent money laundering from taking place. The bank needs to be clear that an interference of RR’s account is appropriate on the circumstances, since a frozen bank account for a period of time has in the past been considered a ‘grave injustice’ in the case of Squirrell Limited v National Westminster Bank plc (Customs and Excise Commissioners intervening [2006] 1 WLR 637. Here, the customer’s funds were frozen resulting in the customer being unable to afford the legal fees it would cost to challenge the decision. Therefore, if RR’s funds were frozen, which subsequently prevented RR from challenging the decision; it is unlikely that this would be deemed appropriate by the court. In accordance with this, it has been said that the test for suspicion is â€Å"a purely subjective matter† ( Medroft, 2010: 190). The decision as to whether the suspicion is reasonable will therefore depend upon whether Christian actually believed that the transaction was suspicious. If it cannot be found that this is the case, the interference cannot be considered justifiable and a breach of the customer’s human rights may also be established as in K Ltd. The bank will therefore be required to consider whether ‘reasonable grounds’ do actually exist, having regard to the elements constituting market abuse offences (Hudson and Hutchinson, 2009: 1). There are many inherent risks that are associated with disclosures and as such, it is vital that the bank is aware of its exact rights and obligations. In SHAH the court found that the bank did not act in an unreasonable manner which is likely to be the case in the instant situation. As such, it will most likely be difficult for RR to show that the bank had not acted in good faith. However, it could be argued that there was an unreasonable delay by the bank to make the disclosure under s. 338(2). As a result of this, the bank could be exposed to liability for breach of its duty of care (Medroft, 2010: 190). Whether this is acceptable remains an arguable subject but as expressed by Benjamin (2007: 62); â€Å"here the objective is not informed consent to risk but combating crime.à ¢â‚¬  Accordingly, it is therefore generally accepted that a bank’s interference will be justified on public policy grounds. The bank will still be subjected to many risks when making a disclosure, nonetheless, and must therefore consider whether the consequences of making a disclosure can be justified (Ellinger et al. 2010: 114). In addition, if the bank decides to make a disclosure, they must be careful not to allow the customer to find out as they can be found liable for ‘tipping off. This is another issue that may arise since a customer could become aware that a disclosure has been made simply due to the fact that their account has been suspended. It could be said that the bank is in a difficult situation as whatever option it takes, sanctions may still be imposed. As one judge noted in Governer Company of the Bank of Scotland v A Ltd [2000] Lloyd’s Rep Bank 271, 287; â€Å"the bank may commit a criminal offence if it pays or if it refuses to pay.† Furthermore, if the bank makes a disclosure based on its suspicions, which later turn out to be unfounded, the bank risks civil liability for breaching its contract with its customer (Ellinger et al: 2010: 114). This is because the bank will have frozen the customer’s account which would have prevented payments from being made in and out of the account. Because the banks have a significant burden imposed upon them when it comes to dealing with money laundering, some attempt has been made to ensure that banks acting in good faith will not face criminal liability. For example, it was held by the court in C v S [1999] 2 All ER 343 that â€Å"it would not normally be an abuse of process to prosecute a bank which was doing no more than obeying a court order for disclosure.† Still, it is necessary for the bank to consider all of the risks before considering whether to make a disclosure or not. Overall, it is necessary on the facts for the MLRO of BCD Bank to make a disclosure to NCA since it does appear that the suspicions are reasonable. This is based upon the transaction of ?15 million that was made recently as well as the text message that Christian has received. Whilst the bank would be required to examine the potential issues with disclosing such information and freezing the account of RR this appears necessary and in the public interest. It will most likely prevent money laundering activities from taking place and will ensure that Christian, the MLRO and the bank are complying with their obligations. References Bastable, G., and Yeo, N., (2011). Money Laundering Law and Regulation: A Practical Guide, Oxford University Press. Benjamin, J., (2007). Financial Law. OUP Oxford. Ellinger, E. P., Lomnicka, E., and Hare, C., (2011) Ellinger’s Modern Banking Law, (Oxford University Press. Ellinger, E. P., Lomnicka, E., and Hare, C., (2010) Ellinger’s Modern Banking Law. 5th Edition. OUP Oxford. Hislop, D., (2009). ‘Banks, SARS the Customer’ 159 New Law Journal 1099, Issue 7380. International Monetary Fund., (2011) Banking and Insurance, Business Economics. Medcroft, N., (2010). A Banker’s Liability for Damages Arising from Compliance with PT 7 POCA’ 4 Journal of International Banking and Financial Law 227, Issue 4. Medcroft, N., (2009). Refusing to Execute Payment Instructions Where a Bank Suspects Money Laundering. 4 Journal of International Banking and Financial Law 190, Issue 4. Hudson, D., and Hutchinson, K., (2009). Suspicious Transactions Reports: Reporting Obligations of Financial Institutions in the UK. Complinet, [Accessed 07 June, 2014]. Cases C v S [1999] 2 All ER 343 Governer Company of the Bank of Scotland v A Ltd [2000] Lloyd’s Rep Bank 271, 287 K Ltd v National Westminster Bank plc [2007] 1 WLR 311 R (on the application of UMBS Online Ltd [2007] WL 1292620 SHAH and another v HSBC private bank (UK) Ltd (2009) EWHC 79 (QB) Squirrell Limited v National Westminster Bank plc (Customs and Excise Commissioners intervening [2006] 1 WLR 637

Hospitality Industry. Marriott International, Inc Assignment

Hospitality Industry. Marriott International, Inc - Assignment Example Liverpool is a city on the growth path. It has seen fastest growth amongst all the key cities in Great Britain between 2002 and 2003, far in excess of regional and national rates. In cultural diversity it is home to many ethnic communities, varying from Irish, Welsh, Scots, English and different religions and countries Jewish, Muslim, Hindu; Chinese, Greek, Italian, Spanish. Even people from the Caribbean, Somalia, Yemen, the Balkans and Middle East have made Liverpool their home. (http://www.liverpool.gov.uk). This diverse conglomerate of communities creates unique opportunities for attracting a wide diaspora to converge in the city during the year 2008. Liverpool has a vibrant culture, it is the original home of pop and music is supplemented by humor, writing and performing arts. It is a port city with principal traffic to the United States. Liverpool is a major regional shopping hub. (http://www.liverpool.gov.uk). A number of international retail giants as Zara and Armani have large outlets. These will be further expanded to cater for the massive influx in 2008 from European and global tourists. Thus it has a unique advantage of being a business and culture hub of Britain. This trend is being encapsulated in the concept of Capital of Culture. The central focus is on, The World in One City. The supporting themes are Create, Participate and Regenerate to be progressed by the vision of Yesterday, Today and Tomorrow. All this is within the overall culture strategy of the Liverpool City Council. (http://www.liverpool08.com). ... (http://www.liverpool08.com). The underlying themes of recreating history, reflecting the present and projecting the future can also be encapsulated in Marriot's philosophy of exploiting the past to sustain profits for the present and beyond. Liverpool Culture Company has been set up with a Chief Executive and a Board to manage promotion and oversee implementation of the Liverpool Capital of Culture. This will provide government and agency support for the project. The assured support of all agencies will enable its successful implementation. (http://www.liverpool08.com). Liverpool's bid for the project had been endorsed by the entire North Western Region, to include North West Development Agency, North West Arts Board, North West Sports Board, Sport England North West, the North West Tourist Board and the North West Cultural Consortium. (http://www.liverpool08.com). Marriott's culture of associate support and customer excellence will enable it to place itself in the forefront of Liverpool's successful management of the primary event, Capital of Culture in 2008. Since there is total commitment of city authorities including the Liverpool Culture Company and regional organizations, this offers synergy in implementation, which can also be exploited by Marriot affiliating with local authorities to sustain growth. Marriot has properties in Liverpool and Manchester. These can be networked to generate additional revenue during the Year 2008, as availability of hotel accommodation in Liverpool per se is likely to be at a premium. Proposed Strategic Response Marriot is essentially seen as a company focused in the United States with a network of properties in other countries. Europe receives maximum tourists every year.

Revising Essay Example | Topics and Well Written Essays - 1250 words

Revising - Essay Example These include logistics, activities prior to the trip, activities during trip and activities following the organized research trip for business students. The study reflects the approach that smaller universities and colleges can take to meet accreditation standards. Getting accredited will help them internationalize their standards and incorporate learning into their curriculum. South Korea has been included as an example to analyze internationalization of the business curriculum. Hofstedes model demonstrates essential differences between United States and South Korea. Traditional cultural practices are witnessed in South Korea and have to be well known by business students. Active learning plays a critical role to enhance problem-solving skills (Sohn, 2006). The case study highlights the importance of including active learning component along with international dimension in a business curriculum in South Korea. There are certain accrediting agencies like Association of Collegiate Business Programs and Schools and Collegiate Schools of Business International, which aims at designing innovative business program. The international dimension outlines importance of diversity or multicultural understanding. Other standards put across by accrediting agencies are a global business dimension where globalization plays an integral role in the business curriculum (Yu, 2010). Another aspect of such curriculum is including problem-solving mechanism as well as active learning skills. Both these objectives could be simultaneously accomplished by focusing on abroad programs for teaching staff and students. However smaller schools lack sufficient funds to incorporate abroad study program for an entire semester. This study is inclined towards an overseas program held in South Korea (Self, 2009). The exchange program to South Korea is divided into various segments such as logistics, trip activities, post-trip

Afterschool programs for kids in saudi arabia Essay

Afterschool programs for kids in saudi arabia - Essay Example While education is developing in Saudi Arabia, kids still don’t have the programs that can help them discover their potential skills and talents. Most kids waste their time during after school time either watching TV or playing video games at home. Having an after school program would be a very positive addition learning in Saudi Arabia. The concept of after school programs is not well developed in Saudi Arabia with very few programs available in the kingdom. According to Hirsch (year), After school programs have shown results of improved â€Å"homework completion, better test scores, higher grades, and even better psychological development of the student†. This is the main project that I will pursue as soon as I get back home. I am going back to Saudi Arabia in July 2012. My project will commence as an after school program by September 2013. In the USA, after school programs have seen a tremendous growth in the recent decade. According to an estimate by Afterschool Alliance (2009), â€Å"at least 6 million ( eleven percent) of school-age youth regularly participated in after-school programs during School Year 2002-2003†. The numbers of after school programs participants have increased lately with about 8.4 million K†12 children (roughly fifteen-percent) attending afterschool Programs by 2009 (Afterschool Alliance, 2009). There are a many good reasons why parents want their children to attend after-school programs. Primarily, Carver and Iruka (2006) believe that these programs â€Å"provide diverse services such as academic instruction, cultural enrichment, safe places to stay, and adult supervision for children â€Å". ... TASC created a model for daily after-school programs that community organizations operate in partnership with schools, offering kids sports, arts, academic help and support for their healthy social and emotional development. TASC is dedicated to reversing that inequality and giving every student a fighting chance to succeed. Knowing that most US kids spend eighty-percent of their waking hours outside the school, TASC became determined to fill that gap with a useful activity. Since its establishment, TASC has helped 376,000 New York City kids, supported 486 New York City public schools, partnered with 328 community and cultural organizations and colleges and trained 16,000 community members to work in schools (TAC Annual Report). Education in Saudi Arabia From the time of its foundation in 1932 until now, Saudi Arabia has made tremendous progress in the field of education. In 1925, King Abdulaziz (in his capacity as the King of Najd and Hejaz – before the establishment of the K ingdom of Saudi Arabia) established â€Å"the Directorate of Education," the first formally organized educational center under the Ministry of the Interior because there was not enough qualified and educated people to establish an education department that represented what’s now known as the Ministry of Education. During its early years, Saudi Arabia made use of Egyptian assistance; however, not only as an aid for teaching by providing both the manpower as well as the knowhow . Furthermore, it has also helped subsidize the curriculum and organize the Saudi educational system. At that time, the Egyptian educational system was based on the English model; hence, it was but natural to also adopt the same educational model in Saudi Arabia. Saudi Arabia’s first public school was

Dyslexia as a learning disorder Assignment Example | Topics and Well Written Essays - 2000 words

Dyslexia as a learning disorder - Assignment Example Several years later, W. Pringle Morgan, a British physician, published a description of a reading-specific learning disorder in a letter to the British Medical Journal. His letter described the case of a boy named Percy who, at age 14, had not yet learned to read, yet he showed normal intelligence and was generally adept at other activities typical of children of that age. It's evident that such children need some peculiar aide. To prove it I'd like to give an example of my little nephew. Andrew is a very smart boy. At the age of five he was able to accomplish complex mathematical tasks. But he couldn't read and all our forces to teach him reading were in vain. He was absolutely happy when somebody was reading him aloud. It took him ten or five minutes to learn by heart a large poem consisting of twenty lines. So we decided that he was too young to read and at school this problem would be solved. But our suppositions have not proved to be correct. Among the children of his lass he was the best in mathematics and the worst in reading. He got bad marks everyday and that made him believe to be stupid. His teacher explained us that he wasn't to identify words and to recognize the sounds that made up words. Having looked into his copy book my aunt saw that he tended to reverse letters and sometimes whole words for example "saw" was written as "was" "b" as "d" etc. Andrew continued to lag behind his peers in reading and writing skills. He hated school because he was always told to be stupid lazy and the worst. Our previously happy boy was close to nervous breakdown. And we decided to consult a doctor. The dyslexia was diagnosed. Well let's continue Andrew's story. At the first visit to doctor Brant his mother was asked about the family's medical and developmental history. Andrew's mother said that her cousin had had the same problem. After that they were said that after the treatm ent Andrew would be doing well at school and would have all chances to make a thoroughly successful career. Andrew's mother was advised to use reading upgrade course and the result was tremendous. Only a month after starting this course my little nephew began to read himself at first syllables and after month and a fortnight he become able to read perfectly without missing or reversing letters. But this great success has come to us not only owing to this program. Andrew's relatives were given a special guide aimed to teach parents right behavior. Nowadays Andrew is a thoroughly successful young man. He's a first year student of the university; he does very well at the university and doesn't remember about his problems at the childhood. He is a real fan of reading. He seems to know everything in the would. dyslexia is a learning disorder. Its underlying cause is believed to be a brain-based condition that influences the ability to read written language. It is identified in individuals who fail to learn to read in the absence of a verbal or nonverbal intellectual impairment, sensory deficit (e.g., a visual deficit or hearing loss), pervasive developmental deficit or a frank neurological impairment. The following conditions are sometimes confused with dyslexia because they can also lead to difficulty reading: Auditory Processing Disorder is a condition that affects the ability to encode auditory information. It can lead to problems with auditory working memory and auditory sequencing. Dyspraxia is a neurological condition characterized by a marked

Chapter 3, Security Surveys and the Audit, in the Fennelly textbook Essay

Chapter 3, Security Surveys and the Audit, in the Fennelly textbook - Essay Example The advanced Covert Body Scans would detect concealed weapons in these cases in a detailed manner, such as which conventional methods like body taps would not. The Covert Body Scans would also ease up the long passenger queues caused by the current slow security systems, thus saving time for passengers and other officials. On the onset of security threats, many travel avenues heighten security measures leading to long queues, cancelled trips and inconvenienced passengers. The covert security scanners would see an end to this since they can scan people as they move through, thus eliminating long, stagnant queues. These systems are also useful in that they are multipurpose in nature that is they can detect a wide variety of security threats from airborne pathogens and illegal immigrants, to concealed weapons (Fennelly, 2013). The implementation of the covert security scanners is acceptable wherever imminent threat to human lives is constant, either directly or indirectly. Such locations include airports, academic institutions, the Mexican border, entries to prominent buildings like major banks and the white house. As indicated earlier, these security systems are a necessity wherever there is a threat to human life. Statistics indicate that more security threats occur in the private sectors than the public ones. These include private institutions like schools, banks, and shopping malls. Some, however, would argue that this development would be an infringement of the right to confidentiality. There requires to be a balance between the value of life and the preservation of privacy. Furthermore, Homeland security assesses and mitigates privacy implications that could result from developed security systems. Such security technologies would definitely be of immense assistance in safeguarding lives and property if implemented. The covert security scanners expose objects in as acute

Arabs' Generosity and Hospitality in the Arabian Peninsula Essay

Arabs' Generosity and Hospitality in the Arabian Peninsula - Essay Example Another major reason of the extreme generosity and hospitality of the Arabs is that they are encouraged by their religion to be that way. The influence on Islam on the culture of the Arabs cannot be overemphasized. This is evident from almost all good behaviors displayed by the Arabs. For example, the Arabs of the Arabian Peninsula frequently make use of these words in their everyday conversation with one another; inshaAllah and mashaAllah, which mean â€Å"if Allah wills so† and â€Å"as Allah has willed† respectively. Islam is the religion of a vast majority of Arabs in the Arabian Peninsula. Islam places immense emphasis on the hospitality of guests and encourages its followers to be highly generous to others. Prophet Muhammad (P.B.U.H.) said, â€Å"Nothing shall ensure the welfare (and interests) of your religion except generosity and good disposition† (ezsoftech.com, 2011). This is the reason why Islam has a well-defined system of Zakat i.e. charity. While p aying Zakat is obligatory upon every Muslim who has assets or money above a certain limit, Islam also encourages its followers to pay more than just Zakat from what they have to the deserving; known as Sadqa in Islam. Allah says, â€Å"Take alms from their wealth in order to purify them and sanctify them with it, and invoke Allah for them† (9:103 cited in Jabir al-Jaza'iry, 2013). In addition to Zakat and Sadqa, gift-giving is a very popular practice and tradition of Islam. Islam encourages its followers to exchange gifts with one another because it promotes love between them and causes the animosity to recede. It is important to note here that Islam has defined particular standards for gift-giving. Islam encourages its followers to give the same thing to others as gifts that they would choose... It is evident from the study that the Arabs consider being generous and hospitable a matter of honor and feel obliged to display it toward others as if it is a sacred duty that they have to perform. Arabs think of it more as an obligation and cultural duty to be generous and hospitable to each other as well as outsiders than simply a behavior. That is why they are famous for generosity and hospitality. Three main reasons of their generosity and hospitality are their centuries of living and trade in the deserts that made them extremely dependent upon one another, the teachings of Islam that place immense emphasis on the display of generosity and hospitality toward others, and the homogeneity of the culture and demographics of the Arab countries in the Arabian Peninsula. Islam is the religion of a vast majority of the Arabs in the Arabian Peninsula, and its impact and influence of the culture of the countries in the Arabian Peninsula is immense. The extreme generosity and hospitality o f the Arab people makes the foreigners feel like at home in the Arab countries. This has benefited both the Arabs and the foreigners as millions of foreigners are employed in the Arab countries and are contributing to the development and prosperity of the Arab countries. Both nationally and internationally, the Arab countries of the Arabian Peninsula have adopted the policies of generosity and hospitality which has helped them foster good relations with other countries of the world.

Mexican Gulf Oil Spill Research Paper Example | Topics and Well Written Essays - 2000 words

Mexican Gulf Oil Spill - Research Paper Example The company’s reputation was also tarnished severely, as the oil spill was a public relations disaster. British Petroleum had to face criticism not only from environmental groups but also from the general populace. The case study of Gulf of Mexico oil spill will aid the understanding of the audience as to how the company dealt with the situation. The focus will be on the way company handled its communication in the media. Also, the role of culture and politics and its impact on the way the company dealt with the crisis will be discussed. The reaction of the public and how British Petroleum handled it will also be significant part of this case study. Gulf of Mexico Oil Spill The Gulf of Mexico oil spill started on 20th April 2010 with an explosion of the deep water horizon in which 11 men lost their lives and another 17 were left wounded (Welch & Joyner, 2010). The explosion resulted in the worst oil spill in the history of oil and gas industry, and millions of barrels of crude oil polluted the sea. The oil spill lasted for about 3 months, during which British Petroleum tried many attempts to block the oil well. Government agencies also took action, and the company was fined. The company also had to deal with many lawsuits from businesses and individuals. The underwater oil spills are difficult to stop, because the source of oil is underwater. This is why it took the company 3 months to stop the oil spill. The company tried very hard to stop the oil spill earlier but was not successful. British Petroleum also had to face severe criticism and public outrage when many of its attempts to stop the oil spills went unsuccessful. People couldn’t find answers as to how it is not possible for a company as big as British Petroleum to stop the oil spill. The underwater oil spill is also more damaging than other types of drilling disasters, because it is very difficult to clean the rivers and seas that are affected by the oil spill. British Petroleum had to ha ndle this situation, as it was no less than a public relations disaster. The company had to take tough decisions to protect its reputation, as it was getting a bashing from media, environmental groups, and public. The company first tried to dial down the situation and took a position that the oil spill is not as big as people think it is. The potential damage of the oil spill was dialed down by the company. The company also took steps to curb the damage from the oil spill. The policy of damage control was put in place as the company was trying to stop the oil spill. Initially, people believed the company’s stance that everything would work out. But when days went by and the oil spill didn’t stop, the media and the public started to panic. This is when the company publicly admitted that there was something seriously wrong and steps had to be taken. Initially, however, the policy of dialing down the issue was followed by the company. Given the size of the company, it was necessary for it to dial down the danger. Any bad news would result in lowering stock prices, which is not acceptable by the shareholders; therefore, the company initially tried to tell people that the problem was not bad enough and the company would soon solve it. From the standpoint of the company, it was a good step, as it stopped the share prices from falling immediately. But when the news broke out that the company is finding it difficult to fix the oil spill, company stocks decreased and, eventually,

Future Farmers of America Association Essay Example for Free

Future Farmers of America Association Essay Can you believe that the National FFA Organization (Future Farmers of America) has over 400,000 members and growing in the United States, Guam, Puerto Rico, and The Virgin Islands? The FFA is a National Organization devoted to teaching and introducing students to agricultural education. It has introduced a large impact on students, changed their views on agriculture, and given them the chances to carry them out. The history of FFA is quite a long one, starting back in 1925, when four agricultural education teachers organized the Future Farmers of Virginia, which would serve as a model for FFA, as well as the New Farmers of America. Then, in 1930, at the third National Convention, national competitions were restricted to only male competitors. The official creed, written by E. M. Tiffany, and official colors, national blue and corn gold, were adopted this year as well. In 1933, Ohio FFA members wore blue corduroy jackets with the FFA emblem printed on the back, and those were later immersed into the official uniform. Soon after, the NFA and the FFV merged together with the FFA. Later on, in 1988, the organizations name was changed from Future Farmers of America to FFA Organization and membership was extended to middle school students. Lastly, in 2006, the National Convention was at its maximum attendance, with a jaw-dropping amount of about fifty thousand attendants! The history if FFA will continue to become more memorable as long as new members join. The FFA training sequence consists of several areas, pertaining specifically to the SAE program, career opportunities, and chapter meetings. The Supervised Agricultural Experience, or SAE, Program is used to carry out a knowledgeable agriculture project. The project workers are often helped by their chapter advisor, depending on what area of study the project is from, choosing from ag production, food science, forestry, ag sales/ service, and horticulture. In some chapters, members are permitted to visit the chapter’s greenhouses/farms to expand and further pursue Ag education. They can choose to extend their knowledge in fields like farm economics, marketing, computer science, and biotechnology. Through chapter meetings, members will learn and develop public speaking skills and working for others. There are several activities to compete in and degrees to earn and receive in FFA. Members compete at local, state, and national levels in the fields of public speaking, Ag mechanics, dairy-cattle, livestock, poultry, dairy food, meat, and rabbit evaluations, floriculture, ornamental horticulture, parliamentary procedures, and nursery/ landscaping skills. The FFA also gives out four degrees to its members. The Discovery Degree is given to seventh and eight grade students. The Greenhand Degree is given to high school freshmen with knowledge, goals, and skills of FFA. After completing two semesters of Ag course work, you receive the Chapter Degree, with which you are entitled to wear a silver pin. The last degree, the State Degree, is obtained for outstanding achievements and for development of leadership skills. The receiver, however, must have also worked at least a minimum of 300 unpaid hours, and they receive with this honor a golden emblem pin. The FFA is definetly one of the younger organizations in the U. S. But, throughout the last ten years, it has delivered a tremendous impact to students, teachers, and the nation along with it’s future.

Role of Women in Sense and Sensibility and Othello Essay Example for Free

Role of Women in Sense and Sensibility and Othello Essay It is very interesting how different time periods can produce similar behaviors in women just like in Othello by William Shakespeare which was written in 1603 and Sense and Sensibility by Jane Austen in 1811. Despite the different time periods, the two texts have a connection with each other. Though set in different time periods, Sense and Sensibility and Othello placed the characters of the women in each text in roles that required them to act a certain way due to societys norms and be dependent on men. The women in these two texts have portrayed such traits by acting depending on their class, and the way they are treated by men in their lives. Subsequently, the actions of the women characters shape the plot in both the texts. To begin with, the way the women act around other people mostly depends on the society`s norms and act according to their class. Elinor of Sense and Sensibility accomplished much she stayed within her social status, married a rich guy with whom she is in love. He is very far from being independent. What his mother really is we cannot know; but, from Fannys occasional mention of her conduct and opinions, we have never been disposed to think her amiable; and I am very much mistaken if Edward is not himself aware that there would be many difficulties in his way, if he were to wish to marry a woman who had not either a great fortune or high rank. (Austen.6). Elinor realizes that her marriage with Edward can ruin because of his rude family, which considers social status as more important than Edwards happiness. Since Elinors not of a high rank and her status is lower than Edwards, it is understandable that his family will vehemently disagree to their wedding. Finally, when Elinor finds out shes getting married to Edward, she cannot hold in her emotions. When Edward tells her it was Robert who married Lucy not him and hes here for her shes overjoyed! Elinor could sit it no longer. She almost ran out of the room, and as soon as the door was closed, burst into tears of joy, which at first she thought would never cease. Edward, who had till then looked anywhere, rather than at her, saw her hurry away and perhaps saw or even heard her emotion (Austen.348). We see that Elinor is told by Edward that it was his brother, Robert who marries Lucy Steele and that hes here for her. Finally, Elinor is ecstatic to hear that her Edward, who has always been her love has come back which she thought would have been impossible after Edwards engagement with Lucy. Marianne is wild, sort of reckless and she didnt follow societys norms for a relationship. When she meets Willoughby, she thinks, That is what I like; that is what a young man ought to be. Whatever be his pursuits, his eagerness in them should know no moderation, and leave him no sense of fatigue. (Austen. 42). Marianne judges quickly and she thinks Willoughby is perfect for her, like she has been waiting for Willoughby. But later on we see, her misjudgement of Willoughby causes a lot of grief for her and her family. When a young man, be he who he will, comes and makes love to a pretty girl, and promises marriage, he has no business to fly off from his word, only because he grows poor, and a richer girl is ready to have him. (Austen.188). Ms.Jennings, says this when she finds out that Willoughby married Miss. Grey, a rich lady, for her money and to avoid poverty, he dumps Marianne for Miss. Grey. Mrs. Jennings says that when a man promises a lady that he will marry her and loves her, he has no right to leave his word and go to another woman just because shes rich. Thats a low thing to do. We see that because of Mariannes misjudgment of Willoughby, she is making her family suffer with her. Then, Marianne marries her long-time admirer, Colonel Brandon, who had revealed Willoughbys reality to Elinor which saved Marianne form less suffering. Though both Elinor and Marianne want to marry for love, their future husband should be able to support his family and marriage. The different characteristics and judgments of the two sisters, Elinor and Marianne lead to their happiness and perfect suitors for both of them. Both the sisters have to marry to stay secure financially, since women could not work back then, the womens fate depended on the status of her husband where he stood in society or she depends on male relatives for her status. Desdemonas decision of marrying the moor impacted her life which made a large part of the society view her as an inferior. She states to her father defending her husband, I do perceive here a divided duty. To you I am bound for life and education. My life and education both do learn me, How to respect you. You are the lord of duty. I am hitherto your daughter. But heres my husband. And so much duty as my mother showed. To you, preferring you before her father, So much I challenge that I may profess, Due to the Moor my lord.(I.III.82-191). Brabantio doesnt accept Desdemonas marriage with Othello but Desdemona defends herself and her husband by saying that this is hard for me, I respect you and love you for giving me life, education since I am your daughter and you are my father. However, just like my mother chose you over her father, I favour the moor over you since he is now my husband and to listen to him is my duty. Conversely, we see that Brabantio is very upset by the fact that Desdemona married Othello therefore deceiving her father and marring betraying her race by marrying a man not the same colour as her. Also, since she was the senators daughter, she was supposed to marry someone from the upper class and with high status, but instead marries a general who is the age of her father and is a different race. Therefore, being a daughter of a senator, she has to act a certain way and do what women of high class would do. Elinor and Desdemona both marry the men they loved and they married for love and they get status and money with it. But their high priority is love and money and status are secondary. They remained within their social status. Emilia is overlooked by most of society, but personally, she has strong opinions and is an honorable person. Emilia is the servant of Desdemona, so her opinions dont really matter since she is of low class. Villainy, villainy, villainy! I think upon t, I think I smell t, Oh, villainy! I thought so then, Ill kill myself for grief. Oh, villainy, villainy! (V.II.202-205). Emilia says that upon finding out that Othello killed Desdemona because her husband told him Desdemona was cheating on him with Cassio. Emilia is so distraught by the fact that poor, innocent Desdemona was killed because of a misperception; she says that she would kill herself out of grief that her mistress died due to false accusations and it was also her fault. Emilia married Iago, which raised her status since Iago was considered honorable in the eyes of the general, Othello. Emilia and Marianne are quite similar due to the fact that they judge based on whats in front of them and their judgments cause them grief as well as everyone surrounding them. Hence, social status was a main fixation that is required to be when deciding to marry. Subsequently, from the sixteenth to eighteenth century women are dependent on men for everything since women didnt have the option to work so they couldnt financially secure themselves. Elinors love for Edward is just like her, caring, loving and loves her dearly and he treats her more like a person than an object. I have seen a great deal of him, have studied his sentiments and heard his opinion on subjects of literature and taste; and, upon the whole, I venture to pronounce that his mind is well-informed, his enjoyment of books exceedingly great, his imagination lively, his observation just and correct, and his taste delicate and pure. (Austen, 20). After meeting Edward, she starts to fall in love with him due to his good qualities and the similarities between them. Edward treats her like a human being and not as an object because the way he thinks is just like her; he sacrifices his fortune to get Elinor back and gives her rights just like him. In contrast, have seen a great deal of him, have studied his sentiments and heard his opinion on subjects of literature and taste; and, upon the whole, I venture to pronounce that his mind is well-informed, his enjoyment of books exceedingly great, his imagination lively, his observation just and correct, and his taste delicate and pure have seen a great deal of him, have studied his sentiments and heard his opinion on subjects of literature and taste; and, upon the whole, I venture to pronounce that his mind is well-informed, his enjoyment of books exceedingly great, his imagination lively, his observation just and correct, and his taste delicate and pureMariannes first love Willoughby is a user, he had played around with Marianne`s emotions and treats her like a object then leaves her for his own benefit. To avoid a comparative poverty, which her affection and her society would have deprived of all its horrors, I have, by raising myself to affluence, lost everything that could make it a blessing. (Austen.310). Marianne loves Willoughby with all her heart but in return Willoughby ended up deceiving her for his own benefit. He states that he did make a mistake, and he will never be happy now since he has sold his soul for fortune to Miss. Grey. He marries her to avoid poverty and to get her fortune. Due to Mariannes misjudgments she is left to suffer not alone but with her family. Desdemona is strong and is capable of following someones demands if she wants too. Furthermore, Othello suppresses her and questions her loyalty, therefore we see at the end Othello smothers her power by killing her. Desdemona betrays her father by marrying the Moor, thus it is seen Desdemona is a capable of listening to what her father says, but she is also capable of not following demands if she doesnt want to. When Desdemona elopes with the Moor, Rodrigo tells Brabantio, Zounds, sir, youre robbed! (I.I.98). Literally, Brabantio is told that he has been robbed of something. In the sixteenth century, women and men did not have equal rights thus men treat women like property. Before marriage, Desdemona is supposed to be Brabantios property since he is the father but now she is Othellos property since he is her husband. Nevertheless, Othello accuses her of betraying him with false accusations and kills her; hence he kills the power in her, the potential she had inside to do what she wills. There are similarities between Desdemona and Elinor. Othello loves and treats Desdemona with respect and gives her rights to do what she wills. It is the same with Elinor; Edward loves her more than anything else. Desdemona and Elinor both marry for love and Edward married Elinor even though she is poor and has a low status. Iago treats Emilia like a forfeit to succeed in his iniquity plans. I am glad I have found this napkin. This was her first remembrance from the Moor, My wayward husband hath a hundred times. Wooed me to steal it, but she so loves the token, For he conjured her she should ever keep it, That she reserves it ever more about her, to kiss and talk to. Ill ha the work taen out, And givet Iago. What he will do with it, Heaven knows, not I. I nothing, but to please his fantasy. (III.III.294-303). Emilia steals Desdemonas handkerchief which was Othellos first love token given to Desdemona, thereby the handkerchief is a symbol of Othellos love. Emilia steals the handkerchief because Iago asks her to steal it so many times, but she does not know why he wants it so bad. When opportunity strikes, she takes the handkerchief, just to make her husband happy. Unknowingly, she had ignites the starting of misunderstandings between Othello and Desdemona leading to Desdemonas death. Iago uses her for his benefits without making her suspicious at all and he does not really love her, since he was using her only to get what he wants. Also, her tone in this quote, it seems that Emilia is clueless as to why Iago wants the handkerchief so badly. Iago had the power to make everyone around him see only what he wants them to see, thereby not making them suspicious of what he is doing. Iago manipulates the lost handkerchief and makes the handkerchief a symbol of Desdemonas faith and loyalty. The handkerchief is a symbol of fidelity and Othellos love. Even Marianne was used by Willoughby; he played around with her emotions but then to avoid poverty himself, he married another woman for her fortune. Moreover, Emilia had also been used by Iago to succeed in his plans that were targeted by jealousy. The women in these texts were used like property due to the inequality of men and women. Consequently, the actions of the women shape the plot in both the texts. Elinor is a very important main character because her family especially her mother relies on her heavily for helping the household after her husbands death. To be the counselor of her mother, and enabled her frequently to counteract, to the advantage of them all. (Austen.6). After Mr. Dashwood dies, her mother and sisters are dependent on Elinor since John refuses to help them. Elinor helped her mother a lot and her sisters too. Marianne introduces characters that provide room for learning about the character of people. Willoughby was a young man of good abilities, quick imagination, lively spirits, and open, affectionate manners. He was exactly formed to engage Mariannes heart; for, with all this, he joined not only a captivating person, but a natural ardour of mind, which was now roused and increased by the example of her own, and which recommended him to her affection beyond everything else. (Austen.48). Marianne meets Willoughby and thinks he is the perfect man for her. If it was not for Marianne, we would not have seen how cruel and cunning people can be. Since Willoughby plays with her emotions and love and then leaves her for a woman with great fortune because Marianne is poor and is of low rank. Willoughby is an example of many men back in the eighteenth century; who wanted women with fortune and whom were not poor. Desdemona is a victim of Iagos evil plan which causes Othellos downfall and rips her life apart. Therefore be merry, Cassio, For thy solicitor shall rather die, Than give thy cause away. (III.III. 26-28). It was because of Iago that Cassio got fired. To succeed in his evil plans, he told Cassio to go speak to Desdemona, who was the generals wife, to get his position back. Cassio had done what he had been told by Iago and he went to speak to Desdemona alone, without the presence of Othello. Desdemona assures Cassio after talking to him that she will do anything to help get Cassio his position back, even if she has to kill herself. Desdemona tries to convince Othello many times to give Cassio his position back, in which suspicion and jealousy struck his mind which had helped Iago in his plan. If Cassio hadnt met up with Desdemona so many times, it would have been hard for Iago to succeed in his plan since Othello trusted his wife a lot before the handkerchief went missing. Iago uses Emilia to help him in his devious plan therefore, has she not been there, Iago would not had succeeded in his plans. O thou dull Moor! That handkerchief thou speakst of, I found by fortune and did give my husband. For often, with a solemn earnestness-More than indeed belonged to such a trifle-He begged of me to steal it. (V.II.238-243). Upon finding out that Iago accuses Desdemona of cheating on Othello, she is shocked! Emilia tells Othello that she was the one who steals the handkerchief and had gave it to Iago since Iago told her many times to steal it but she was unaware of why he wants it. She is also quite an honorable person, because she disregards the consequences, and confronts Othello about murdering Desdemona. Then, when she found out it was her own husband who causes it, she revealed that she also, played a part by stealing the handkerchief. If Emilia had not stolen the handkerchief, it would have been hard for Iago to convince Othello that his wife, Desdemona, was cheating on him. To conclude, the two texts, Sense and Sensibility, by Jane Austen and Othello, by William Shakespeare both put the women in both texts in roles which required them to act a certain way due to societys norms and be dependent on men. The women showed these traits by acting depending on their class, and the way they are treated by men in their lives, thereby the actions of the women shape the plot in both the two texts. The way the women act around other people mostly depends on the society`s norms and act depending on their class. Also, women were dependant on men for everything since women did not have the option to work so they could not financially secure themselves. Todays society is different from the society that is portrayed in the two books. Women and men both have equal rights now in which women have the option to work and have any occupation they want. I think this is a great improvement because it enhances the equality between men and women, which allows them to incorporate a bond between them.

Process for Passing Legislation

Process for Passing Legislation Tim Mulligan Energizing California’s Legislature How to Inspire Legislative and Electorate Action about an Electric Vehicle I have recently invented a solar-electric hybrid vehicle that could have immensely positive effects on drivers of California, and it could also facilitate a significant reduction in the use of fossil fuels in the state. In order for my invention to gain more prevalence throughout the state and to begin making these changes, I will need to have a piece of legislation passed. I believe that individuals who purchase one of my hybrid vehicles should be entitled to a $4,000 tax credit because of the positive impact they are having on the environment. There are several ways to go about this. Legislative Process In order for this appropriations bill to be passed by the California legislature, several things need to happen. I first need to contact my congressman and inform him about my product and the idea that I have for a piece of legislature. This is my primary involvement in the legislative process as I have the chance to speak with my congressman on the merits of my product and the legislation that I would like passed. The legislative process begins when either my state senator or my state assemblyman decides to author the bill for me. After my congressman has authored my bill, it is sent to the Legislative Counsel to be officially drafted into a bill. The newly drafted bill will be sent back to my congressman so that it can be introduced to his or her congressional house, the Senate, or the Assembly. My congressman will read the proposed bill to his/her congressional house and the bill will be sent to the Office of State Printing not to be dealt with for 30 days. Next are the committee hearings. The bill is sent to the Rules Committee where it will be reviewed to see which policy committees in which it needs to be seen. For this specific bill, I believe that it would be sent to committees such as the Appropriations Committee, Environmental Safety and Toxins Committee, Natural Resources Committee and the Revenue and Taxation Committee. This is because the bill deals with a $4,000 tax credit for individuals and also because my product has an impact on the environment and our use of natural resources. These committees can pass the bill as it is out forth by my congressman, pass it with amendment, or they can defeat the bill. If the bill survives the committee process it is then read a second and third time, followed by a roll call vote within the congressman’s congressional house. As an appropriations bill, it would need 27 votes in the senate and 54 votes in the state assembly to be passed. If the bill passes after undergoing this whole process in one of the congressional houses, the process is then repeated in the other house. If both housed approve the bill, it is then sent to the governor where he can either sign it, allow it to become law without his signature, or he can veto it. Use of Lobbyists, Interest Groups and Campaign Contributions The most significant way that I can help my legislation get passed is through the use of lobbyists and interest groups. Lobbyists and interest groups often have very close relationships with members of congress and their influence in the legislative process is invaluable. I would need to employ lobbyists from environmental groups to help communicate with my congressman the advantages that my hybrid vehicle would bring to the state of California. Interest groups can mobilize my idea within the population and lobbyists can promote my idea face to face with my congressman. Campaign contributions are also incredibly influential in the legislative process because there are many interest groups, lobbyists and corperations that can influence congressmen by either contributing to their campaign funds in return for legislative action, or they can withdraw their often massive contributions if the congressman does not support legislature that caters to their best interests. Using Direct Democracy I could also take the route of direct democracy in order to get my legislation passed. This would occur through the initiative process. I would need to make a request for a title and summary for my proposal. Because this process is so expensive I would most likely need to have the help of lobbyists or interest groups. I would also need to hire attourney’s so that my proposal can be drafted in proper legal text. Once the attourney general has prepared a title and summary for my initiative, it is on to the signature process. I would need to acquire a number of signatures in support for the initiative that is equal to the full number of votes that were casted for any governor candidate in the last gubernational election. If I indeed allocate this many signatures, the Secretary of State will include the initiative in the next general election and any special elections subsequent to the intitiatives qualifying. Waging a Successful Direct Democracy Campaign After I have successfully brought my initiative to the ballot, I will need to campaign for it so that I can see that it is passed in the next election. At this point there is no doubt that I will need the aid of interest groups, not only for their public influence but for their campaign funds. I will need to select a sponsor that not only has funds but also has the ability to reach the voters. Research will need to be funded not only to analyze the potential benefits of my hybrid vehicle and the tax credit that it would bring individuals, but to analyze the public opinion and how voters can best be reached. Focus groups will help me to develop my strongest arguments for why my bill should be passed and these ideas will be put forth in advertisements. Television advertisements, radio advertisements and hired interest group lobbyists will be my primary means of campaigning for people to pass my legislation. Pros and Cons of Legislative Process/ Direct Democracy I believe that direct democracy would be the strongest means of getting my hybrid car tax credit passed into legislation. I believe that bills that are proposed to the legislation are often impeded by the partisanship of the members of Congress. This is true not only on a federal level but at the state level. I think that lobbyists can only propel a bill so far into the legislature before partisanship will defeat it, or amend it beyond its primary purpose. The legislative process is a good safeguard for mitigating the number of laws that are passed as well as intensely analyzing their contents before they are passed. But, I do not believe that the legislative process would serve my bill well. Direct democracy would be a good means of getting my legislation passed because I believe that it would be easy to mobilize voters on a bill that could potentially credit them $4,000 for purchasing an already money saving car. The preservation of natural resources is an issue that more and more people are agreeing upon today and I do not believe that anybody would be opposed to a tax credit. I think that my only problem with the direct democracy route would be actually mobilizing people to vote. Because this bill really only effects those who are purchasing my vehicle, the number of people that would feel the need to vote for it would be very small. People do not often vote on things that they feel do not have an effect on them and that could be problem when it comes to mobilizing the electorate to consider my car that effects a small group of people.

relationships in Hamlet Essay -- essays research papers

Relationships In Hamlet In William Shakespeare's Hamlet, the character of Hamlet has many relationships with all characters. The theme of relationships is very strong in this play. A relationship is an association between two or more people. Hamlet has many of these associations with , Claudius, Ophelia, Rosencrantz and Guildenstern. Many of his relationships are just and unjust according to the character's feelings. The relationship between Claudius and Hamlet had many hidden meanings. The first time that Hamlet insults Claudius when someone else is around is when Claudius was supposed to help Hamlet cheer up. "A little more than kin, and less than kind" (Act 1, Scene II, Line 65) is what Hamlet said and at that point in time was very insulting. Act 3, had a play about a king getting poisoned. Claudius, who was watching this play, felt guilt for killing his brother, King Hamlet, and had to leave. Hamlet finally realizing that his father's ghost was telling the truth and went and found Claudius. Claudius was praying and so Hamlet felt that he could not have revenge for his father because of the act he was doing. Hamlet also needed to be on his own deathbed in order to finally get angry enough to kill Claudius. Hamlet’s final relation with Claudius was completely just even though it took his own life to finish it. Op...

Modern Music :: essays research papers

Music has been around for thousands and thousands of years. The caveman had originally started some type of sounds in which branched off into the music that we listen to today. This prehistoric music was started by the cavemen in order for them to express themselves, and the others who listened were affected in the same way that people are affected by music today. For example, if someone is upset they will listen to something that will get them into a better mood, perhaps something mellow or soft. If they are happy, they will listen to something that is more energetic, and so on. After I interviewed four people--friends and family--I found out what type of music they listened to when they are upset, angry, or calm. Music touches people’s souls, and gets the best or worst out of them. My friend Kyle said, â€Å"When I am in a bad mood I listen to basically rap because it gets me hyped up to where I want to dance. Rap lets me get into a better mood where I can forget the problem or what I was mad at before.† He continues, â€Å"No other music affects me as much as rap does because rappers put everything they have into their songs, but that is only my opinion.† Kyle has listened to rap since he was 13, and he actually got me interested into it. I never liked rap until I started to hang out with him, and I am now starting to enjoy it because of its’ diversity that is involved in making the music. Each rapper has their own version of the world, and they express it through their music. -2- Not all rap music is good according to a Texas widow, who filed a lawsuit against Tupac Shakur. Her husband, a Texas state trooper, was allegedly shot to death by a man who stole a car. In the man’s car a Tupac tape was found in the cassette player, and Tupac’s music was allegedly to blame (Damean). Some people tend to take music too seriously, and end up making mistakes, and they have to suffer the consequences like that Texas man. Those people, who take the music too seriously, are not stable, and the music brings out the worst of them. On the other hand, people like Kyle have no problem with some of the lyrics that some rappers incorporate into their music, and end living happily with society.

The Love Scene between George and Maire from Translations Essay

The Love Scene between George and Maire from Translations This scene, in my opinion is the dramatic centre of Translations. The scene displays that George and Maire have fallen in love as they return from the dance together; the pair find it hard to communicate, and exhaust every method of communication before reciting place names to one another. The common language of the place names increases the tension between George and Maire until, finally, they kiss. The kiss is witnessed by Sarah who uses her new found talent of speech to tell Manus. The scene, in my view is very important as it is the catalyst for the disastrous events which follow, it leads to the disappearance of George, the search of Baile Baeg by new English soldiers, Maire’s despair, and the imminent ‘evictions and leveling of every abode’. The stage directions play a prominent part in the scene, they specify darkness and music being played, the music is significant as it is a common form of communication, everybody can relate to it. The ‘music rises to a crescendo’ as Maire and Yolland enter on stage and the audience are involved in the excitement and merriment of the pair. The music also crescendos later after Sarah has seen them which emphasizes the significance of what has just happened. The stage directions also describe their actions towards one another, the gestures and the pause before the kiss; all which would add a lot of drama and pace to the scene. Act 2 Scene 1, which is just before the love scene, is very different. Maire and George at this point are still very shy and use Owen to translate everything between them: Maire: Tell him then Owen: Tell him what? Maire: About the dance. Maire is essentially inviting Ge... ...hows that she has gone to tell him about George and Maire, bring the scene to a climax. It is also poignant that after Sarah has been given the gift of speech, she is now about to use it to tell her teacher and change everything in Baile Baeg, possibly costing George’s life. As the scene acts as a microcosm of the play’s messages, Friel displays the themes of translation, cultural differences and conflict of interests all in one scene. As a result, I think that this is a very important, if not the most important scene of the entire play, as the scenes before all build up to this moment, and the later events preceding it are all results of George and Maire’s union. Brian Friel has also managed to keep the audience interested by using tension, pace, irony and suspense; and successfully brings the end of the act to a climax, keeping the audience engaged.

Ifrs vs Us Gaap

ACCY200 Financial Accounting A Accounting for Property, Plant & Equipment using IFRS and US GAAP Submitted To: Dr. Mufeed Rawashdeh Lecturer, ACCY200 UOWD Project done by: Punit Hiro Lalwani 3948493 Anish Ahuja 3959569 Hitesh Kumar Bilochi 3949345 Date: 29th November, 2011 Table of Contents Executive Summary| 3| Introduction| 4| Property, Plant & Equipment| 5| Interest incurred during construction of asset| 6 – 7|Direct & indirect costs incurred in self-constructed assets| 8 – 9| Valuation/Reporting of Property, Plant & Equipment’s in the Balance Sheet| 10 – 11| Example of Annual Reports for US GAAP and IFRS| 12 – 13| Implication of Differences – 1) Interest Incurred 2) Componentization 3) Subsequent of Valuation| 14 – 15| Conclusion and Recommendation| 16|References| 17 – 18| Executive Summary This Financial Accounting report contains information on a few key areas in accounting for Property, Plant & Equipment, using two sligh tly different standards which are the US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards.The objective of this report is to state how these two standards are slightly different in terms of accounting for items of PP&E such as Interest/Borrowing Costs during the asset is being prepared for intended use, How direct and indirect costs are allocated or measured for assets constructed by the company itself, and how their fixed assets are valued at balance sheet, after initial recognition of cost. Both the standards, are pretty similar, yet have some key points which conflict with each other. These points carry a degree of importance in terms of accounting.Each point is beneficial as well as It has its drawbacks, depending upon the scenario put in place. Moreover, the above mentioned content is even widely exhibited by including Annual reports of two companies – one IFRS, and the other US GAAP reports, to show a practical example o f dealing with Property, Plant and Equipment items in the balance sheet. Introduction IFRS is a set of guidelines and rules formed by the International Accounting Standards Board (IASB) that companies and organizations can follow when compiling financial statements.The creation of international standards allows investors, organizations and governments to compare the IFRS-supported financial statements with greater ease. International Standards help investors to deal with comparing financial statements with more convenience. The International Financial Reporting Standards were previously called the International Accounting Standards (IAS). Generally Accepted Accounting Principles (GAAP) is the accounting standard used by the Organizations in the United States which is the common set of accounting principles, standards and procedures that companies use to ompile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information. GAAP are imposed on companies so that investors have a minimum level of consistency in the financial statements they use when analysing companies for investment purposes Property, Plant & Equipment (PP&E) Property, plant and equipment are tangible assets that: 1. are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes, and 2. re expected to be used during more than one period. Property, plant and equipment does not include: 1. biological assets related to agricultural activity, or 2. mineral rights and mineral reserves, such as oil, natural gas and similar non-regenerative resources Asset Recognition The entity shall recognise the cost of an item of property, plant and equipment as an asset if, and only if: 1. it is probable that future economic benefits associated with the item will flow to the entity, and 2. the cost of the item can be measured reliably .Interest incurred during construction of asset | IFRS| US GAAP| Definition| Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense. | Similar to IFRS but US GAAP uses ‘interest Costs’ instead of ‘Borrowing Costs’| Qualifying asset| A qualifying asset is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale. | Similar to IFRS but US GAAP does not state the word substantial’| Measurement| Borrowing cost include * Exchange rate differences from foreign currency borrowings. * Borrowing cost is offset by investment income earned on those borrowings. * Actual Interest are Capitalized. | * Interest costs do not include exchange rate differences. * Interest earned on the investment of borrowed funds generally cannot offset interest costs incurred during the perio d. * Interest cost equal to the weighted average accumulated expenditures times the borrowing rate is capitalized. Commencing Capitalization| An entity shall begin capitalising borrowing costs as part of the cost of a qualifying asset on the commencement date. The commencement date for capitalisation is the date when the entity first meets all of the following conditions: * (a) it incurs expenditures for the asset; * (b) it incurs borrowing costs; and * (c) it undertakes activities that are necessary to prepare the asset for its intended use or sale. | Similar to IFRS. Ceasing Capitalization| An entity shall cease capitalising borrowing costs when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are complete. | Similar to IFRS| Direct & indirect costs incurred in self-constructed assets | IFRS| US GAAP| Cost| * The asset is carried at cost less accumulated depreciation and impairment. | Similar to IFRS| Depreciation| The depreci able amount (cost less residual value) should be allocated on a systematic basis over the asset's useful life.The residual value and the useful life of an asset should be reviewed at least at each financial year-end and, if expectations differ from previous estimates, any change is accounted for prospectively as a change in estimate under IAS 8. | Depreciation under US GAAP is similar to IFRS as the property plant and equipment are to be stated at cost of acquisition less accumulated depreciation based on estimated useful lives of the assets. | Revaluation| * Under IFRS, an organization has an option to use the cost method or the revaluation method to measure property, plant and equipment. The asset is carried at a revalued amount, being its fair value at the date of revaluation less subsequent depreciation and impairment, provided that fair value can be measured reliably. | US GAAP prohibits revaluations except for a discovery on a natural resource, in a business combination accoun ted for under the purchase method. Therefore uses only the cost model. | Componentization| Component depreciation is a requirement under IFRS if the components of that particular asset have differing patterns of benefit. Component depreciation is permitted but rarely used under GAAP compared to IFRS in which it is a requirement. | Valuation/reporting of property, plant ; equipment’s in the Balance Sheet | IFRS| US GAAP| Measurement| * Property, plant and equipment should initially be measured at cost. Cost is the fair value of consideration given for the asset. * The cost of an item of property, plant and equipment comprises the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.The cost also includes estimated costs of dismantling and removing the asset and restoring the site on which it is located * The costs that incur for completion of the a sset construction can be added to the amount that has to be recognized initially, if these costs exceed the recoverable amount, the excess should be expensed in the current period. | * Property plant and equipment under GAAP are measured at historical cost. * Similar To IFRS * Self-constructed assets are recorded at the incremental or direct costs to build (material, labor, and variable overhead) assuming idle capacity. Direct Costs| Directly attributable costs include costs such as: * Costs of site preparation. * Initial delivery and handling costs. * Installation and assembly costs. * Professional feesDirectly attributable costs do not include administration and other general overheads| Similar to IFRS| Indirect Costs| Non-directly attributable items are not permitted to be capitalized under IAS 16. Repair and maintenance costs are expensed as incurred, not capitalised. | Indirect costs under GAAP are called overhead or burden.For example Power, heat, light . To handle these costs one of the following ways can be applied: * Assign No Fixed Overhead to the Cost of the Constructed Asset * Assign a Portion of All Overhead to the Construction Process * A pro rata portion of the fixed overhead should be assigned to the asset to obtain its cost. | Examples of an US GAAP and IFRS Report valuing Property, Plant and Equipment Property, Plant and Equipment (US GAAP – Google Inc) Property and equipment stated at cost less accumulated depreciation and amortization.Depreciation is computed using straight – line Method over estimate useful life of assets, generally two to five years. Buildings are depreciated over periods of up to 25 years. Leasehold improvements are amortized over the shorter of the remaining lease term or the estimated useful lives of the assets. Construction in progress is related to the construction or development of property (including land) and equipment that have not yet been placed in service for their intended use.Depreciation for e quipment commences once it is placed in service and depreciation for buildings and leasehold improvements commences once they are ready for their intended use. Land is not depreciated. Property and equipment value at end of 2009 and 2010 was $4,845 million and $ 7,759 million, respectively, with accumulated depreciation and amortization cost of $3,285 million for 2009 and $ 4,012 million for 2010. Property, Plant and Equipment (IFRS – Puma)Property, plant and equipment are stated at acquisition costs net of accumulated depreciation, even though they have the option of revaluation, they haven’t used it. The depreciation period depends on the expected useful life of the respective item. The straight-line method of depreciation is applied. The useful life depends on the type of assets involved. Buildings are subject to a useful life of between ten to fifty years, and a useful life of between three to ten years is assumed for moveable assets. The cost of maintenance and re pair is recorded as an expense at the time of origin.Significant improvements and renewals are capitalized to the extent that the criteria for capitalization of an asset item apply. As a general rule, lease items that qualify as a finance lease due to the terms of the underlying contract are shown under property, plant and equipment; initially they are measured at the amount of the fair value or the lower present value of the minimum lease payments and net of accumulated depreciation in subsequent accounting periods. Property, plant and equipment is valued at â‚ ¬236. 7 million in 2010 and â‚ ¬242. million in 2009. Accumulated depreciation of property, plant and equipment amounted to â‚ ¬ 233. 3 million (previous year: â‚ ¬ 201. 9 million). As we can see from the above 2 examples, both the methods of the companies are very similar, and there is very little difference in the way they report the value of their Property, Plant ; Equipment in the Balance Sheet. Implications of differences Interest incurred IFRS includes exchange rate differences and also allows the offsetting of interest revenue with interest costs, whereas US GAAP does not allow either.This method of IFRS can be very accurate because while offsetting the interest revenue with the interest costs, it will only show one entry in the financial statement, whereas in US GAAP it will show two entries, one of cost and one of revenue. Hence there is only a difference in the presentation of information BUT the end result will still be the same. IFRS can be more convenient and make things simpler because of offsetting compared to US GAAP. Exchange rate differences will most probably hold an mmaterial difference but to avoid any inaccuracies, they should be taken into consideration. Componentization Componentization is when the assets are segmented into the different parts and are depreciated separately. As stated above IFRS requires componentization, whereas US GAAP permits it but does not requi re it. A good example might be that under US GAAP, a car may be treated as a single depreciable asset, while under IFRS, every component of a car will be depreciated separately, including engine, car frame, brakes, and etc.This can be very confusing for users as not every company retains all the information about its components, but IFRS is still more accurate as it allows the companies to know the real value of its components and its estimated life, where as US GAAP will only show the real value of its asset and not know the estimated life of the components of the assets, which can be a disadvantage because the companies will not know whether it’s components need maintenance or not. The disadvantage of componentization under IFRS might be that the depreciation expenses will mostly tend to be higher than US GAAP, therefore resulting in lower profits.This implication can also have an affect on the tax the company pays. Subsequent valuation differences * IFRS permits revaluatio n of property, plant and equipment whereas in US GAAP it is forbidden. Under the revaluation model, if the carrying amount of a property, plant and equipment’s asset is increased as a result of a revaluation, the increase is recognized in equity under the heading of revaluation surplus. The revaluation surplus amount recorded is then adjusted on an asset-by-asset basis by the amount of future revaluation increase.Adjustments to the revaluation surplus account are recorded in equity. Therefore, if there is an Increase in asset revaluation IFRS would be more beneficial compared to US GAAP since it gives an appropriate measurement of the current value of the asset and would show a higher income for the company due to increase in fair value. * A decrease arising as a result of a revaluation should be recognized as an expense to the extent that it exceeds any amount previously credited to the revaluation surplus relating to the same asset.In this case US GAAP would be more prefera ble since it would state its assets value above the current market value (fair value). However from a technical point of view the value would be overstated. So overall, it is more advisable to use the IFRS standard for revaluation of assets. Conclusion and Recommendation There are many Similarities in IFRS ; US GAAP but they also have Differences that cannot be unnoticed. There are different scenarios in which one accounting method would prevail over the other.Difference between these two methods of accounting standards cause confusion which should be eliminated and there should be the need of uniform accounting standard. The best way to deal with differences in IFRS and US GAAP is to converge the both, with the most accurate method of each difference being retained. This will make it easier for the people to interpret, understand and compare financial reports because the standards will be the same for everyone.In recent years there is a huge acceptance of IFRS over US GAAP which ha s led to benefits such has increased in transparency and consistency of financial information, more efficient use and availability of global resources, streamlined internal controls, additional access to capital, and opportunities for improved cash management and income tax planning. References AICPA. (2011), ‘IFRS for SME’s – US GAAP comparison – wiki’, [online], Available: http://wiki. ifrs. com/Property-Plant-and-Equipment, [Accessed 24 November 2011] Banka. S. (N. D. , ‘US GAAP- Quick Learning Module’, [online], Available: http://usgaap. tripod. com/id14. html , [Accessed 24 November 2011] Business Dictionary. (2011), ‘International Financial Reporting Standards (IFRS)’, [online], Available: http://www. businessdictionary. com/definition/International-Financial-Reporting-Standards-IFRS. html, [Accessed 24 November 2011] Deloitte. (2011), ‘Summaries of International Financial Reporting Standards’, [online], Available: http://www. iasplus. com/standard/ias16. htm , [Accessed 24 November 2011] Ernst ;Young. (N. D. , ‘Property, plant and equipment’, [online], Available: www. csb. uncw. edu/people/rocknessj/classes/MSA500/PP%26EIFRS. ppt, [Accessed 24 November 2011] Ernst ;Young. (N. 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