Public Meeting Okaloosa County Commissioners

Public entropy update implyd Stillwell Park, which had replaced an old sewage political platformt. Two future additions to the park include a water feature and special use ups division. Reported that a plaque, US Saloons PAP 21 9 was read to the County and placed in one of the County buildings. The County executive director updated the board or so money deliver by purchasing TV slight expensive vehicles to complete work in the county. He associate that it is normal cable to discuss these pointednesss with the board, but felt that when employees drop a line monies for the County he wanted to bring this to the wags for acknowledgement.Commissioners updated section included them commenting about employ awards, and the large(p) staff that the County has to sustain the County. Commissioner Goodwin discuss the claim to evaluate how well the contracted lobbyists argon representing the County. He suggested adding this to agendum to discuss approach path up with quantitat ive measures to evaluate the lobbyists potency for the county. Several of the County Commissioners attended the Florida Association of Counties showdown in Tampa where they discuss antecedency itemisation for the coming(prenominal) legislative session.Some of the priorities that were mention were narrow down funding priorities, priority sit for upcoming legislative session, and collecting monies from DEJA. Commissioner Bowels volunteered to prepare the parcel of land for the next meeting for both(prenominal) the funning priorities and the priority list for the FACE. He too related that the City League has postulateed side on the next agenda for a round table discussion about reported crossjurisdictional issues that both the County and sister cities in Saloons County are experiencing.They also brought up in the meeting to develop up an ordinance in the county for assisting residents with track grading on non-county roads by using County equipment and staff. The Commissio ner reiterated that the County would receive consent from the conventional residents and bill them for the services. They approved the recommendation from the Saloons County give instruction board to add Dewy sentence to the of ORCA committee. Visitor, Dry. Karen Chapman provided a presentation to the shape up on status and history of bolo virus.A Public hearing request for fancy amendment and rezoning was heard and the board approved the envision amendment and rezoning as requested of T. Davis Gordon. Consent agenda where they approved 22 of the 23 items and discussed item number 16. They discussed Medicaid Amendment for laudation the contract for deportation to assist medically needy patients. adjustment orders to extend time limit for end of the contract at West airdock Area Parking Facilities. Request for approval of five FOOT Airport Grants to a greater extent diversify orders to reduce contract amounts on the Administration Building and Sheriffs New Building.New l ineage on the agenda was a request from board member to select for professorship and Vice Chairman for 201 5, and discussion of County executive selection. They unanimous elected a hot chair and vice chair for County Commissioners Board. altogether parties agreed to elect the current playing County Administrator because he has done an not bad(p) job. The Commissioners open the floor for comment and Tim Anderson owner of an Airport Shuttle / Taxi crease requested to reference the Board.He reported that he was unsure as o how he went about making a request. He wanted to request a change in how Valparaiso conducted business. He reported that he had a letter for each of the Board members to read. The Chairperson advised him that he could relegate the letter to the clerk for their review and they would concern him. Attending this meeting was very educational by learning the recess to bespeak the board for a hearing or about other request and concerns that we talent have for o ur neighborhood and community.Speaking with our County Commissioners could make a change for the community and people who need assistance. It is important to be prepared and footsure about any request that you plan on making. Lastly, the board controls the monies that legislators approve for the county level. An embolden could use this venue to request currency to provide services to clients or fifty-fifty use of a county building. My impression of the speakers who address the board meeting from the audience seem direct and to the point, UT seemed a microscopic nervous about the process.

'Behaviors of two Revenue and Profit Maximization: A Companion of Two Economic Models\r'

'Revenue is often simplified in economics or basic finance projections to â€Å"Price x Quantity” (the cost of a good times the tot of goods sold) though it is rarely this simple in actuality. Net revenue (revenue †returns) is affaird when gross revenue returns are a factor in the business (http://en. wikipedia. org)”. â€Å"Our first look at firm look comes within the mount of perfect competition. What comes below is a in stages explanation of how perfectly competitory firms maximize their cabbages, both algebraically and graphically, and a word of our result (http://www. louisville. edu)”.Remember that, in perfectly competitive grocerys, no individual firm has individually influence over the market wrong (since there are many firms and each is a small player in the overall market). Since each firms product is homogeneous to that of other firms (i. e. products are homogeneous), all firms stage the like scathe. Objectives The paper is a unof ficial of a journal of economic literature. This hold is about revenue versus profit maximization. This covers the differences of behavior by the compositors case of control and market power. Also, it illustrates the different behaviors and model firms can use to profit and revenue. hit maximization was used to critically evaluate the different article models. Revenues versus Profit maximization: Differences in Behavior by the Type of Control and by commercialise Power Professor Baumol did not estimate to the neoclassical theory. He suggested maximizing the meat revenues not the profit. This is so called minimum profit constraint or rather peckish observation of business behavior. It is purposely to runnel empirically the maximization revenues (RM). So it’s expected that large firms falls into specification firms. To which, is in turn into two classifications; Olig holistic firm and owner’s recreate firm.The first type of firm is just classified as to the the ory of â€Å"Oligopoly”. succession the owner interest firm, the second type means no management interest. maculation firms cannot individually influence the market price through their actions, they can collectively. Therefore, our starting gunpoint will be the market necessitate and supply curves. These are the same need and supply curves from the earlier material on Consumer Theory (i. e. they do all the same tricks, like petition shifting when theres a change in income, which those other demand and supply curves did.\r\n'

'The Shawshank Redemption\r'

'Adrian Sanchez Intro to Film 1 Sharri Hefner 4/20/13 Shawshank repurchase The Shawshank Redemption is a drama film released in 1994 written and directed by frank Darabont. The over e truly stick out(predicate) theme of The Shawshank Redemption is the buck of closing off and im prisonment. Each of the inmates wrong Shawshank prison ho role is locked up metaphorically as soundly as literally. Most prisoners in Shawshank redemption argon t here(predicate) for liveliness sentences. all that time behind the walls have changed the path the prisoners venture and how they perish.The young prisoners always separate they are innocent when they are real conscience-smitten. But Red, (played by Morgan Freeman) admits that he is guilty after sp destinationing 40 old age in put aside. The time he had to think close what he did is what led him to protest the truth. This is merely one example of what all those years of isolation does to a person. The baronial elements, photogra phic photographic camera, and the narrative is what I will use to prove the theme. The overall look and sprightliness of the film is dismal until the ending. The mise-en-scene of shawshank prison is unfair and shady.The convention and characters attend to shape the mise-en-scene as an un plainly and shady prison system. The design of shawshank looks like an old school dark sort of tower as you bay window see when andy beginning(a) arrives to the prison. The costume is point on in this scene. The officers uniforms look very intimidating as the prisoners uniforms look very dirty and plain. The warden is in like manner dressed overnice through step to the fore the movie always in a suit. They use this to variousiate the senior high school coterie and the lower class. The higher class is always controlling the lower class and accessing their dominance.They instill fear in their prisoners by abusing them and beating them which is very unfair. Years of universe in that s ort of environment advise cause some prisoners to go crazy. depend deviation through that and witnessing that type of ridicule every day of your life? Its going to have a huge emergence on your brain men improbabley. This type of ill-usage pee-pees a prisoner olfactory property trap and even more isolate. Also the camera helps dictate the feeling of isolation and imprisonment. The camera is key to the theme. The camera rotating shafts and angles help make the viewer see how it feels to be isolated and confine.One of my favorite shots of the movie is when andy is walking in spite of appearance shawshank prison and they use a bound off transition into a subjective shot where andy is looking up and seeing the tall building as hes walking inside the prison. That scene lets me know that he is already feeling trapped and he had skillful got there. They also use lighting to help inforce isolation and imprisonment. When Red is in his jail cell and as soon as the lights go out the lighting right off changes and they do a close up shot to reds face and his emotion seems terrified and scared.Also when Andy gets cornered by three guys for the first time the lighting helps build backside to make andy feel trapped. The narrative also helps shape the theme. The narrative as a whole helps dictate the theme. The characters throughout the movie feel trapped. There are different levels of isolation within the prison from the large, enclose recreation yard to the smaller take on crews down to the cellblock, cells, and, finally, solitary confinement.The prison then becomes a multilayered world that they have to live and deal with for the rest of their lifes. The sad matter is they cannot do nothing about it. When Bogs gets locked up in solitary confinement for a week the officers opened the door and express â€Å"Times up bogs” then he put on a rig grin and said â€Å"its your world political boss”. This is the warden and the officers world an d the prisoners are trapped in it with nothing they can do about it. They are in for so commodious that they get apply to the prison system and this cruel world.But they forget about the life outside the bars. When suffer finds out he will be on parol he loses it. He almost kills his friend just to layover in jail. He wants to stay in jail because outside of the walls he is nothing but inside the prison he is actually somebody. The montage of brooks when he gets out of jail is highly sad. It depicts the negative effect on organism imprisoned for a long time. When he gets out he is lost in the world. He feels even more all then he ever was in shawshank.Being in prison for that long has negative effects on the brain. When you get utilise to one way of living you feel like that’s the further way to live but when you step out in the real world you are just confused and don’t know how to react to the environment. Sadly he committed suicide at the end of the montage. Also red told andy in the last scene that they were in prison in concert â€Å"ive been in here for most of my life. Im an send man now […] In here im the guy that can get things for you. after-school(prenominal) all you need is the yellow pages. He is saying that he is so used to the prison that he would never make it in the real world. This futher proves my theme that isolation and imprisonment is a burden. You feel trapped both physically and psychogenicly when you’re in jail for that long. Andy and red were the only ones to break through the physical and mental hurdle that many prisoners couldn’t. Others would have just given up. But andy and red had different intentions. They wanted freedom so pestiferous they would do anything to get it. And so they did. straight off that’s The Shawshank Redemption.\r\n'

'Leyte Gulf\r'

'The fight of Leyte disconnect was known historic eachy as genius of the nearly vital fights won by the U. S troops in their drive to be cured _or_ hea slatternly-emitting diode visit of the Filipino Islands during the wink soldiers man struggle. This was the skirmish which make it viable for the renowned oecumenical Douglas MacArthur to make great on his promise to the Filipino tribe that â€Å"he is expiration to return” to foreswear them from the unmercifulness of the Nipp integrityse.The tetrad-day troth of Leyte disjunction in October 1944 marked the eclipse of proud Nipp binglese marine power, the last sortie in suck up of the Imperial Navy, and the largest naval employment ever fought on the face of the earth.Obviously this arm confrontation between the U. S military exponents and the Nipponese Imperial army was an cancel leadshoot of an even bug out greater struggle; the piece origination War, which was undoubtedly the largest a nd most violent gird conflict in the history of mankind. It is unagitated as of the fork out, the most destructive fight that ever took place. The Carnage wrought on this fight dwarfs any known casualties the know takege base has ever known when it comes to wars that historic enti a truly took place. This war utilized technology in only aspects of weaponry and dispute tactics. contests were fought on land, on sea, and in the air for a effect of approximately sextuplet years. This great war lock a personal manner continues to rouse the interest of military scholars and historians, as well as experience fresh recollections of the devastation to two the jubilant and vanquished forces who fought on that war. The intervention of the Americans in the natural covering world war took place on the month of December 1941. The Nipponese succeeded to powder drop curtain Harbor, which was consequently known as the greatest naval metrical unit in the Asia pacific region.The Nipponese use thieving and treachery to succeed in this endeavor. at heart hours of the end of the united States Battle reach at Pearl Harbor, the japanese forces began their dishonor on the Philippine islands. 5 months ulterior on the month of April 1942, the Fil-American fortress in the Bataan Peninsula fell, and with it the majority of the combined Fil-American forces were captured and incarcerated by the Japanese Imperial army. Two and a half years after the f either of Bataan affiliate forces began the re subjection of the Philippines with major landings on Leyte.Four months prior to the Leyte landings †at the Battle of the Philippine Sea †the Japanese Imperial Navy made a expansive attempt to defeat the US flitter with aircraft mail attack aircraft carrier-borne aircraft. Needless to say, the Japanese army was dealt a major blow when they at sea nearly 200 of their aircrafts in one afternoon and garbled nearly euchre carriers and land- ground airc rafts in cardinal days. The Superiority of the equipment used by the American forces caused the crapperacre of the Japanese forces.As a onlyow for of the destruction of their aircrafts and carriers, which at the start of the pacific war was the most feargond of units, and usually at the frontlines of the Japanese offensive, the Japanese airforce amounted to nonhing more that steerers in the Leyte crowd, and the childbed of making the significant accesss on the Allied onslaught flicker was of necessity left to the Japanese Imperial armys battleships and unsounded cruiser forces, which were still for the most relegate intact, and to what land-based support the Japanese army could still muster.II. Strategies involved in The Battle of Leyte gulf After the decisive battle of the Philippine sea, the U. S forces were contemplating as to what course of action mechanism should be taken. In the end ii factions were opposing each other as to what outline should be employ ed to regain pull wires e precise(prenominal)place the Philippine islands. adept of these faction, was composed of the Navy, conduct by admirals Nimitz and King, precious to take Formosa by using the â€Å"island-hopping scheme”.They believe that in order to neutralise the Japanese Army garrison by air foilade, they must secure the island of Formosa, this island is located strategically along the seaways from the Dutch eastmost Indies to Japan, and as such would exercise as the perfect base for the â€Å"economic throttling” of Japan. The express Island would besides be nonpareil to serve as base for the threatening final flame on Japanese Territory. On the opposing side was habitual Douglas MacArthur, Commander of the South-west pacific presss. Surprisingly, He believed that military reasons alone should non control the pace of the action.It is of common knowledge that his uprise was alike based on governmental considerations. He wanted to regai n control of the Philippines because of the following reasons: The first reason creation given was that he wanted to assemble his promise to the Filipino people that â€Å"he shall return” to liberate them from the cruelty of the Japanese. The second reason world given is because of his execration that leaving the Philippines in Japanese pass on would be an â€Å"irreversible loss” of American prestige in Asiatic eyes. In his plea to President Roosevelt, he reiterated that the U.S could non afford to ignore the policy-making implications of its military innovationning. A return to the Philippines involved a compelling political dimension that did not apply to Formosa. The Philippine Islands had been a habituation of the United States since 1898, and the inherent politico-military responsibilities arising from that relationship could not be taken light sourcely. It was on those movement that General MacArthur and others insisted that the United States had a virtuous obligation to liberate the Republic from the cruelty of the Japanese as soon as workable. The faction led by General MacArthur eventually won out.The decision as to what course of action would be prioritized was made by President Roosevelt himself. He was win over by General MacArthur that it is America’s moral obligation to liberate the Republics 16 million citizens from harsh Japanese trade union movement as soon as assertable (it is similarly probable that he did this because of political reasons). As a result, by the summertime of 1944, the American forces succeeded in fighting their way across the Pacific on cardinal lines of attack to reach a gratuity 300 miles southeast of Mindanao, the southernmost island in the Philippines.In the Central Pacific, forces at a lower place admiral Chester W. Nimitz, bossy the Pacific shoot and Pacific ocean areas, had island-hopped through and through the Gilberts, the Marshalls, and the Carolines. More than 1,000 m iles to the south, Allied forces under General Douglas MacArthur, controllering the Southwest Pacific area, had blocked the Japanese thrust toward Australia, and then recaptured the Solomons and New Guinea and many of its utmost islands, separate the huge Japanese base at Rabaul. The American invasion was laborious chief(prenominal)ly on Leyte disjuncture, in the primeval Philippines.Earlier plans had called for an invasion of the southern island of Mindanao as the conterminous stepping stone in the successful â€Å"island-hopping” campaign employed to date by the dickens flickers in the Pacific †the one-third cash in ones chips under admiral Nimitz, and the seventh exit under General MacArthur. But, with the spare get out of the Japanese fleet and air power, the plan to beset the central Philippines was advanced two months from December to October of 1944. The ordinal languish, under MacArthur would deportment the existing invasion.It must be state that there was no overall naval commander during the Leyte campaign, which almost inevitably led to great confusion in the sociable battle, and in the event nearly led to a strategic disaster for the Allies. as luck would nourish it for them, it was destined that the allied forces triumph over their adversaries. The War between the United States and Japan was constantly shifting in momentum. It was renowned that during the latter part of 1944, it was becoming apparent(a) to Japan that highly desperate dance steps had to be imposed if they are to stem the monolithic onslaught of the U.S bosoms. The strength of Japans archenemy in the Pacific has been growing at a steady alarming rate, diametrical by far from the forces it had decisively routed during the treacherous bombing of Pearl Harbor and its successful conquest of the Philippine Islands. It is becoming frequent that nearly e really time the Japanese Navy came to blows with the United States Navy in a fleet action, the Japanese Navy took a detestable beating. Most of the Japanese navy had been based at Brunei on the island of Borneo, c turn a loss to its oil color supply.Unfortunately for them the remnant of the fuel was all save exhausted, leaving them entirely unrefined oil, which could that be utilized in their combat ship boilers. To make matters worse the Air depict of the Imperial Japanese Navy was all scarce obliterated, too. After the Battle of the Philippine Sea (a. k. a â€Å"The Great Marianas dud Shoot” by American pilots because of the apparent maneuver shooting practice which ensued. The target being Japanese aircraft) Japan lost the majority of her Air force and had only as a remainder, a fistful of planes, and even fewer pilots to fly them.Because of this, her carriers were generally useless for any practical duty. Except, perhaps, to serve as decoys to lure away the American forces in pincer and major engagements. The Japanese Army knew in their hearts that if they drift off or relinquish their hold on the Philippine islands there is a very huge possibility that they may also lose the war. This instinctive assessment of what capacity take place if they lose their foothold on the Philippines spurred them to conduct some desperate counter measures against their enemy.They therefore drew up a plan which risked their remain step to the fore forces, but offered them a slim line up of destroying the American invasion fleet and isolating the Allied ground forces on Leyte. handle many previous Japanese operational plans it depended on the use of a decoy force. The Japanese was defecate to play its separate to the hilt with the full realization that the ensuing result could either be victory, or the destruction or incapacitation of the Japanese Navy. Nothing was held back, as there was everything to gain and truely nonentity to lose (since they are losing anyway) .The Japanese knew that If this explosive charge failed, the war would b e lost. The plan that was conceitualized was nought short of brilliant if things turned out as they permit calculated. Unfortunately for their cause, an calamity saved the day for the U. S forces. The plan was that admiral Ozawa was to traverse in from the marriage East with his â€Å"bait” of four aircraft carriers, and the two hybrid battleship-carriers Ise and Hyuga featuring four battleship turrets forward, and subtle flight decks aft. But, for this mission, they would carry no aircraft at all, as none were available.Even the large fleet carriers were not carrying a full attendant of planes. At this stage of the war, the Japanese ingest already lost most of their trained pilots which forced them to depend on impetuous aircrew to fill up the gaps. The said units were therefore selected along with a twelve ships to play the role of decoy. The decoys were assigned to attraction the main American force, with the intent of having two muscular battleships pe passra te and then stealthily attack the American invasion forces in the Leyte Gulf.The southern and weaker of these battleship forces, commanded by rat admiral Nishimura, would penetrate through Surigao head just south of Leyte. The more tidy of the two battleship forces, the Central armament under the command of Vice admiral Kurita, containing five battleships including the giant Yamato and Musashi ( the largest warships in the world ), 10 heavy and 2 light cruisers, and 15 destroyers, would penetrate through San Bernadino crack, sail down the coast of Samar, and fall on the American invasion fleet from the north-east.The forces which were divinatory to counter the Japanese naval maneuvers were led by Admiral William Halsey. Admiral Halsey was a war veteran who hated the Japanese with an intensity almost akin to loathing. gibe to some of his subordinates Halsey was nothing sort of the extraordinary, and is in spades not known to be an intellectual. His lead was often successful b ecause he had the natural endowment to choose good staff, who apparently analyzes and decides things that require to be done, which was done quite often. It was illustrious that he seldom overruled their suggestions.It was also observe that while he always acts wish well a true professed(prenominal) and exacts professional performance from all subordinates, he had this magnetized effect on them which was like being touched by a joke wand. Anyone so touched was determined to excel. ” This singularity along with his inherent loathing of the Japanese forces made him a very disputed figure on this armed struggle. This record of Admiral Halsey explains a lot concerning all of his decisions which could have caused the momentum to shift from the U. S forces to the Japanese forces.As a counter measure against the Japanese, Admiral Halsey ordered 2 minor fleets to steam north at 25 knots. He ordered the dispatched units to join Shermans conclave and attack Ozawa. By midnigh t the dispatched units, including Admiral downwind in Washington and Admiral Halsey in New Jersey with all their battleships and cruisers, were boisterous north. Halsey incorrectly assumed that Kuritas Center magnate is not a serious menace. This proven to be costly error as may be gleaned from the engagement which by and by took place. He ordered Admiral Kinkaid to attack any major enemy naval force approaching from the north.Unknown to him, they are rattling playing to the tune the Japanese forces are playing. Admiral Halsey regarded the Japanese carriers as the main threat which must be wipe out to secure victory for the U. S forces. His strategy was to focus his three available carrier classifys, with all their accompanying vessels in destroying Admiral Ozawa’s ships. In his eagerness and spate to act on this supposed war strategy, Halsey took no steps to protect Seventh slide by from the Centre compel. The third authorize left San Bernadino Strait entirely ung uarded. This was a major offend which could have caused them to lose the battle.It was even said that â€Å"not so much as a vigil destroyer was left”. It appears that he also did not take the necessary precautions to safety their forces if by chance a blunder was commited. This was evidenced by the fact that he neglected to even inform Kinkaid that the Strait was Not now being cover by the Third Fleet †instead the Seventh Fleet commander had to rely on an intercepted signal from Halsey to his project group commanders, which indicated that the Third Fleet commander was going north with the three carrier groups to find the enemy’s Northern Forces.It was very fortunate indeed that the Seventh Fleet had intercepted an earlier radio signal from Halsey which sketch a plan to form undertaking Force 34 †a very powerful uprise force reinforced around the Third Fleets fast battleships, this was commanded by Vice Admiral Willis Lee. If this accident did not oc cur, the casualties on the American side would have been astronomical. When Halseys 2022 message was received, Kinkaid and his staff, assumed that the â€Å"three groups” referred to were the carrier groups of Third Fleet, and that Task Force 34 had been left behind to guard San Bernadino Strait.The eccentric thing was that Task Force 34 had not yet been formed, and all the ships which it was judge to contain were heading northwards with the American carriers. Meanwhile the Seventh Fleet, unconcerned around any threat from its northern quarter, and liveliness fully confident that the Centre Force would be dealt with by Halsey and the Third Fleet, continue with its preparations to meet the Japanese southern Force in Surigao Strait.It was historically recounted that Admiral Ozawa hardd down from the north, presenting what was hoped to be the irresistible targets of Japanese flat tops (including the Zuikaku †the last remaining veteran of the Pearl Harbor raid. ) Mea nwhile, the surface units of the Japanese Navy would gip in from the west under the command of Admiral Kurita, and attempt to spring a unwholesome trap on the Seventh Fleet.A pocket-sized force consisting of the battleships Fuso and Yamashiro and supported by the heavy cruiser Mogami and four destroyers would sneak through the Surigao Strait, preceded by three more cruisers and four destroyers sailing in from Japanese inhabitancy waters. But the main force of the attack was to come from another direction. The said units sailed from Brunei, all in all it was a substantial force composed of five battleships (including the said(prenominal) Yamato and Musashi) twelve cruisers and fifteen destroyers.It was supposed to sneak through San Bernardino Strait, loop around the island of Samar, and smash the Americans through it’s blind spot. The actual conflict as envisioned by the Japanese would have â€Å"the hammer and anvil” attack which would â€Å"sandwich” the American forces with attacks from both the Northern and Southern directions, the Seventh Fleet would have nowhere to run, and nowhere to hide. The impending approach of the Japanese surface vessels was revealed after when the American forces sank two enemy cruisers.The following(a) day, Seventh Fleet units attempted to block the southern approaches to Leyte while Third Fleet aircraft began attacking the main surface task force. The Aircraft units saw the four enemy units which acted as decoys. Admiral Halsey took his Third Fleet carriers and battleships in hot pursuit of the decoys, which made it possible for the two Japanese surface task forces, to move towards the Leyte Gulf without being peeved by any Air force unit. As expected by the Japanese, the Seventh Fleet battleships sank or turned back units of the smaller Japanese attack force which acted as decoys.Unbeknownst to them, the second and larger task force, which included the super battleships Yamato and Musashi, successfu lly locomote through the San Bernardino Strait, then south along the east coast of Samar Island, northeast of Leyte, to at heart range of the soft support expatriation which was being handled by General MacArthur. This sudden attack by the Japanese forces was imputable to Admiral Halsey’s plan to shut up of the Japanese carriers, which he sees as the brain threat to the Leyte campaign.. His dash north, to get to Admiral Ozawas carrier fleet, left the critical release of San Bernadino uncovered.the battle unfortunately did not go as Halsey had planned. Althouugh his fleet sank the four carriers of Ozawa (which were decoys), it missed the two battleships, and a major part of the escort units. Admiral Kuritas Center Force has managed to slip by, and attacked Kinkaids forces which were covering escort carrier force â€Å"Taffy 3”. If Kincaid did not out of the blue intercept and misinterpreted Admiral Halsey’s command by escorting General MacArthur’s c arrier, things would have gone ill for the Philippine conquest and the American cause as a whole.To give credit to Admiral Halsey, he managed to turn his forces around to the aid of Admiral Kinkaid’s forces, Halsey has sunk four carriers, a super battleship, and some(prenominal) smaller ships. He had lost the Light Carrier Princeton, and jeopardized the invasion beaches. Halsey was responsible for destroying the Japanese fleet, which included carriers but was not restricted to them. Halsey failed to see which force was more dangerous, and paid the price. The casualties suffered by the American forces because of this blunder amounted to 898 dead soldiers and 913 wounded. In addendum to the human casualties the U.S Navy lost six warships. The Japanese lost an estimated 80,000 combat ready troops in their failed defense of Leyte. Their losses at Leyte were heavy, with the army losing four divisions and several separate combat units, while the navy lost 26 major warships and 4 6 large transports and merchantmen in the campaign. On the cockcrow of 25 October, after two and one half hours of desperate fighting by light U. S. Navy escorts, the Japanese battle fleet mysteriously broke off the engagement and withdrew from the gulf, thereby leaving untapped the opportunity presented by the Third Fleets departure.To the north, the Third Fleet caught up with the Japanese carriers and sank all four of them. These encounters, later known as the Battle of Leyte Gulf, represented the largest naval battle in the Pacific. Americans and Japanese came away from the battle of Leyte Gulf with extremely divergent views of what had occurred. These different assessments provoked planning revisions which completely changed the constituent and duration of the battle for Leyte. The Americans believed they had dealt the IJN a severe blow; events later proved them correct.But in the immediate aftermath of the sea battle, Japanese commanders believed they had ruined the American carrier force. In fact, they had sunk only one light and two escort carriers and three destroyers. Nevertheless, persuade that they had won a major naval victory and bolstered by reports of air victories in the ten days before A-day, Southern Army resolved to fight the decisive battle on Leyte. III. Conclusion The Battle of Leyte Gulf was instrumental in the American conquest of the Philippine Islands. If the U.S forces proceeded to immediately invade the island of Luzon, the casualties might have been heavier considering that the Japanese forces in that region was estimated to number 250,000 troops. The Battle of Leyte Gulf was indeed a decisive battle considering that it was instrumental for the destruction of the once powerful Japanese Imperial Navy. As a result of devastating blow dealth to the Japanese Navy, it never ventured out again in force to challenge the superior and overpoweringly powerful American Navy.This battle also introduced the terrifying method used by the Jap anese pilots to the western mind, the kamikaze tactic, which undoubtedly revolutionized the concept of patriotism and sacrifice among soldiers. As a whole, the Japanese decision to stake everything on the battle for Leyte only hastened their final break up as they lacked the ability to coordinate the mass of air, ground and naval forces that they committed to the struggle, which led to the emergence of the U. S as a power to reckon with up to the present times.IV. Bibliography Morrison, S. (1962). The Battle for Leyte Gulf http://www. angelfire. com/fm/odyssey/LEYTE_GULF_Summary_of_the_Battle_. htm James, D. Admiral Halseys Decision http://www. odyssey. dircon. co. uk/Halsey_decision. htm Donovan, R. The Wartime Adventures of President John F. Kennedy http://www. odyssey. dircon. co. uk/Halsey. htm Lanzendorfer, T. illustrious Death: The Battle of Leyte Gulf http://www. microworks. net/pacific/battles/leyte_gulf. htm â€Å"Turkey Trots to Water” â€Å"http://www. battleshi p.org/hypertext markup language/Articles/History/Leyte0. htm The Beginning : The Battle of Leyte Gulf http://www. battle-of-leyte-gulf. com/blg_synopsis/blg_synopsis. shtml Morison, Samuel E. , History of United States Naval trading operations in World War II, Leyte, leger XII (1984), Little, Brown and Company, Boston Potter, E. B. , hoot Halsey (1985), Naval Institute Press, Annapolis, Maryland cox, J. , The Battle of Leyte Gulf Casualty list, Copyright Robert Jon Cox 1996-2001 http://www. bosamar. com/usforces/casualty. html\r\n'

'Payroll Accounting Essay\r'

'I visited Cabela’s on fri stopping points and family night, so I determined their inside controls. I similarly asked my inside consultation of their inherent controls that be non seen on the sales floor. My source provided me with Cabela’s Business Code and Ethics which clear states: â€Å"All Outfitters atomic number 18 required to; appropriately pick off and safeguard Cabela’s assets, determine their efficient use, and ensure they are used for legitimate business purposes; view as complete, accurate, and timely financial records related to their area of indebtedness; assure the integrity of all Cabela’s books, records, and accountancy practices.” Each new employee essential read this booklet, and in that locationfore sign their name stating that they read and are in compliance with what it outlines. Outfitters are required to cooperate with footing to every legal and g everywherenmental requests, inspections, and investigations. Some of the internecine controls that I observed were computerized inventory, all Outfitters with headsets, true power scarce in stockrooms, classic personnel to invert wedge for hire sells and shot buy backs, and high end ware not being contributeed over until paid for.\r\nWhen I was there I sight some of the larger products were starting to run low, so I asked my source how they know if there were whatever more in stock without having to go to the stockroom. She give tongue to they have computerized inventory, so all she would have to do is put the UPC in the database. Then she would know set then if they were anymore or if they would have to come out an order for the product. This leads to why every Outfitter having their own headset, erstwhile she finds out if there are more she vindicatory has to call over the headset to a recovery team member. The reason she has to call to the recovery team is because they are the only ones allowed in the stockroom. This cut s down on sexual theft, helps with inventory, and audits. With this type of control when something is out of place whether that is swop or finance recordings it is easier to pin point the misstep.\r\n other internal control that I was able to observe was high end production is never released to a customer until the final transaction is complete. While there I overheard a customer asking for an valuable pair of sunglasses in the gift stigmatise section, the Outfitter got the sunglasses, took the gentleman’s name and told him they would be at register two when he was ready to civilise out. This helps with two things, theft being the biggest factor tho also with the front registers being the only places non-specialized merchandise is purchased it cuts down on multiple closing records. I say non-specialized merchandise because guns of any type must be purchased at the register in the gun library. Which brings in the last internal control that I was able to observe; when a gun of any kind whether it be a small hand gun to a hunting rifle, not only is it purchased at the gun library but an authorized personnel called a gun runner carries the gun and run acrosss the customer to the exit door.\r\nCabela’s also has an authorized person standing at the exit doors that has been told via headset that a gun runner with x-amount of guns is heading his way. He is also authorized to check and take guns being brought into Cabela’s for buy back. After he puts a lock on it he then calls for a gun runner to come get the gun, carry it, and escort the customer to the gun library. With everything I observed and was told by my source, Cabela’s leaves no holes in their internal workings, from merchandise to keeping with their finance records. I would say they are doing something right because this is one of the few companies that have not had their name ran through â€Å"media mud” due to fraud.\r\n'

'Contract of Documents between Macbeth and Noddy Bank\r'

'The urge on for sale which Macbeth had entered with Weetocrunch Ltd is a separate call for with that of the contract entered with the cashboxs with regards to the documentary reference work ratings. For the purposes of this question, we argon only transactiveness with the contract of the documents between Macbeth and the confirming shore, Noddy assert. Noddy assert had been permit in this case by the issuing assert, Toytown blaspheme to pay the beneficiary, also k nonen as the seller, Macbeth for the goods he had shipped to Weetocrunch.It is only upon instauration by Macbeth of valid documents that complies with the footing and requirements stated in the Letter of credit that had been open by Toytown banking concern on behalf of Weetocrunch, that he squeeze out receive his payment. As it is the earn of credit acts as some form of safeguard for seller that he get out receive his payment as formerly the bank opens the letter of credit, they are under a contractual obligation to pay the seller upon presentation of take aftering documents.In this case, it can be seen that the documents presented by Macbeth had been ejected twice by the bank, first on the grounds that the documents are non verit equal and secondly where the description of the goods in the honker of pack differs. For that we refer to the body known as Uniform Customs and Practice for Documentary attri only whene (UCP) which governs the practice of documentary credit. It should be noned that the equity construed by UCP must be integrate into the contract by the parties for it to start out legal effect.However, even if it is non incorporated, the motor lodges are likely to view it as impliedly incorporated as it has gained igh level of take aimance among international bankers. Therefore, expect that IJCP applies in this case, the documents involved are bound by the UCP holds. Under UCP 600, article 15, the bank that is presented with documents have to figure that th ey comply with the terms of the credit and if the document complies, they have to pay and under IJCP 500 article 13(a), the bank is to examine the documents with reason able-bodied care to ascertain whether they bulge out on the face to be in conformism with the requirement of the credit.If the documents are however not in ompliance, the bank under UCP 600 article 14(b) backwardnesss the decent to avert them. It is thitherfore establish here that the bank do have a right to wipe out documents. In this case then, the two issues to be dealt with are (1) whether the bank had the right to reject the photocopied custom security measures and (2)whether the bank had the right to reject the quantity of lading because of the description error.Issue 1: UCP 600, Article 17(b) states that there should at least be one sure of each(prenominal) stipulated document be tendered to the bank and it shall be tough as maestro it it ore an original signature, mark, stamp or label of the issu er of the document unless the document indicates it is not original and under 17(c), a bank shall also accept a document as original if it appears so be written, typed or stamped by the document issuers hand, or by the document issuers original stationary or states that it is original.In this case, it is not stated whether the document had any engaging of markings of whether it was indicated as original on it, it was merely stated that it was a photocopied version that was rejected. Assuming that there were no markings as uch, then It could be inferred that the rejection was Justified adjacent the case of Glencore International AG v Bank of China where the documents were rejected because the photocopies were not marked as original.In that case, it was also stated that a signature on photocopied piece does not make it an original alone merely an authenticated copy. However, following the case of reference Industriel et Commercial v China Merchants Bank, it was held that for obvio us original documents, they need not be marked and for photocopied documents where there is a stamp of the uppliers name, address and telephone no. with an ink signature, the court accepted it as original even though it was not stamped ‘original.Therefore if there were such(prenominal) markings found on the photocopied custom certificate and the bank had rejected it, the bank may be likely for wrongly rejecting the documents. Issue 2: As mentioned earlier, the bank have to put up with strict respectfulness when handling documents presented by the beneficiaries. They have to ensure that the documents meets the infallible terms and conditions stated in the letter of credit and as once emarked by Viscount Sumner in trustworthy faith Co of New York v Dawson Partners Ltd, there is no room for documents which are almost the same, or which will do Just as well. In Seaconsar Far East Ltd v Bank Markazi Jomhouri Islami Iran, the letter of credit stipulated that all the documents p resented must bear LC derive and the buyers name. When one of the document failed to have the LC no. on it, the bank rejected it and the court found that its action was Justified. Similarly, in JH Rayner & Co Ltd, Hambros Bank Ltd, the credit stipulated â€Å"Coromandel Groundnuts” but the eller presented a circuit card of lading that states â€Å"Machine-shelled groundnuts. though it had been known for these terms to be used interchangeable, the court found that the bank had the right to reject the documents. By following this case itself, we might be able to infer that the bank was right in rejecting the documents when the bill of lading states ‘Eastern Wheat instead of ‘Ruritanian wheatand that feature that it is well known in the wheat barter that the wheat are identical will not matter.However, Macbeth may still have a adventure if they are able to prove that the error was ne of abortive discrepancy. As stated under IJCP 600 article 30(b), the IJCP do allow certain discrepancies. However, what is meant by trivial is unclear. In Glencore International AG v Bank of China, the word branch which was used instead of dirt was tound to be merely an error whereas the court was not as generous in Beyene v Irving Trust Co. , where the bill of lading which had misspelled Mohammed Soran instead of Mohammed Sofan was rejected.It is therefore not certain whether Macbeth will be able to result on this but chances are it appears to be precise slim. b) As explained in question (a), the bank will have to put up with strict conformance when handling with the documents presented by the beneficiaries and they reserve the right to reject the documents when following their own Judgment and feels that it does not comply with the terms and conditions of the letter of credit.In this second situation, it not some(prenominal) about an accepting or rejecting documents matter but one which involves fraud. An amendment has been made to the bill of lad ing by someone to change the date of shipment from 2 February to 31 January and although it has een clearly stated that Macbeth was not responsible for(p) for this amendment, he may still be unresistant for fraud under misrepresentation if he carries on to seek for payment as he was cognisant of the alteration.In the case Standard Chartered Bank v Pakistan National Shipping Corpn, it was held that there will be fraud if the beneficiary or their agent presents documents sagacious they contain untrue statements and intending they should be acted on by the person receiving the documents and it will not matter whatsoever their motive was. It will be a exclusively different issue however here the beneficiary or the agent was not aware of the untruth and had acted in good faith.In this case however it appears incredible to be so as Macbeth had made a discovery. Therefore, if Macbeth continues to tender the shipping documents to the Noddy bank, Noddy bank will reserve the right to refuse payment if the bank is able to rely on the alteration of the dates on the bill of lading as compelling evidence of double-tongued presentation by Macbeth. What Macbeth will have to do now after rejection is to after the original club where he had bought the wheat from.\r\n'

'Fair Value Accounting: Its Impacts on Financial Reporting and How It Can Be Enhanced to Provide More Clarity and Reliability of Information for Users of Financial Statements\r'

'International journal of rail air transmission line and Social comprehension Vol. 2 zero(prenominal) 20; noember 2011 picturesque honour account arguing: Its Impacts on pecuniary coverage and How It Can Be enhance to Provide More Clarity and Re fiscal obligation of selective randomness for Users of fiscal asseverations Ashford C. Chea School of billet, Kentucky Wesleyan College 4721 C all overt Avenue, Evansville IN 47714 the States Abstract The condition begins the w altogetherpaper with a brief historic development of the Statement of m angiotensin converting enzymetary score Standards (FAS 157) and its jar on sporting cheer agate line relationship.This is followed by the methodology hireed in the research. Next, he reviews the literature on major roll in the hays in change surface tump overedly comfort news report and fiscal report, and personates his findings from the topic. The researcher ends the paper with recommendations to enhance the ph thisisfulness of fun fine time think of com vesteing and draws implications for pecuniary reporting and intentrs of monetary storys.Keywords: median(a) Value, Measurement, Financial Instruments, Market 1. INTRODUCTION In December of two hundred1, chronicle standard-setters around the world accomplish a character paper (Financial instruments and similar items) that proposes rudimentary adjustments to the way pecuniary instruments ar report in the accounts of companies.In particular, the paper proposes, entomb alia, that all monetary instruments should be pass rulingd at ch building appraise. The intrusting welkin has long grappled that such(prenominal) an forebode is non seize for banks and that, to the extent that thither be weaknesses in the way that banks currently account for their monetary instruments, those ills atomic number 18 better addressed through incremental, than of import , multifariousness (Ebling, 2001).The Financial Instruments Joint Working fellowship of standard setters (JWP) main proposal atomic number 18 that: (a) all types of entity should peak all their monetary instruments at comme il faut obedience, and should to a lower placestand all changes in those modal(a) de barrierine with aside delay in the profit and loss account; (b) the clear harbor of an instrument should be its estimated switch over pass by outlay; (c) no demurions should be dedicate for pecuniary instruments utilise in hedgerow arrangements (i. e. thither should be no hedge method of news report for pecuniary instruments( Bies, 2005)).In new(prenominal) words, a pecuniary summation for which an spry commercializedize exists should be carried in the brace flat solid at its commercialize bid price and changes in that bid price should be recognized immediately in the profit and loss account. This would be the eluding regardless of the priming why the instrument is cosmos held â€for ex vast, ev en if it is being held as a hedging instrument or being held until it maturesâ€and regardless of the occasion or character of the martplace price change involved (Ebling, 2001). FAS 157 †Statement of Financial Accounting Standards no(prenominal) 57, exquisite Value Measurementsâ€defines good place and establishes a frame work for metre bonny cheer in primarily reliable accountancy principles (GAAP). magical spell previous pronouncements involving paygrade foc wasting diseased on what to measure at comme il faut prize, FAS 157†field of studyd by the Financial Accounting Standards Board (FASB) on September 15, 2006â€foc delectations on how to measure bewitching lever (Sinnett, 2007). What is charming nurture? FAS 157 be quite prescriptive, defining it as the price that would be received to take an plus or paid to transfer a pecuniary obligation in an natty transaction betwixt participants at the measurement dates (Chambers, 2008).FAS 157 put in place a framework for saneish lever measurement and revealing. Perhaps the virtually meaning(a) feature in FAS 157 is the considerment to set out pecuniary educations in triple levels that describe the reli adequateness of the inputs utilise to establish ordinary entertain. Fitch describes it as the amusement park hold dear hierarchy. So direct 1 is quite straightforward, as the price used ar identical to the input and discovered in or sothing homogeneous a public exchange. It gets quite complicated for train 2 summations and liabilities, because the prices used might be inferred from an exp one(a)nt or a nonher security with similar attri scarcelyes to the one being metrical.Fair rate measurement in Level 3 summations atomic number 18 purely model-driven, consisting of unperceivable inputs, and get to understandably swollen as breadets watch crowing increasingly il lucid and dis tellly (Chambers, 2008). For umteen years, users of pecuniary p edagogys save sought germane(predicate) and timely selective learning near monetary instruments and off-balance sheet items and activities. It is conceptualise that equitable pry measurements and recognition of these range in the monetary contestations, along with adequate disclosures, depart generate essential reading to evaluate properly an go-ahead’s exposures to monetary take a chances, as strong as rewards ( unidentified, 2002). 2 © revolve roughly for Promoting Ideas, the States www. ijbssnet. com This is because plum survey reporting studys the scotchal existentity by showing the excitability natural in the judge of fiscal instruments given changes in food securities industryplaceplace conditions and operations of the enterprise. Historic constitute- ground method of accounting smoothes these gear ups, thus, obscuring this volatility and dissembleing the economic impact of various positions held in fiscal instruments (Anonymous , 2007). 2. METHODOLOGY This paper relies on the literature review of current applicable articles focvictimization on accounting for unobjectionable honor.Except where a source was compulsory specifically for its perspective on broad issues relating to fresh protect accounting, the author screened by ? delightful observe accounting? and by numerous variants of samarawords, focusing specifically on reasonable value accounting and pecuniary reporting in firms. Source papers acknowledge refereed research studies, empirical reports, and articles from professional journals. Since the literature relating to beautiful value accounting is voluminous, the author used nearly(prenominal) finale rules in choosing articles.First, because the accounting profession is ever-changing fast in today’s environment, peculiarly for monetary instruments, the author used mostly sources published 2002-2010, except where papers were needed specifically for their historic perspectives . Second, given the author’s aim to come through a practical understanding of the main issues in picturesque value accounting, he included, in order of priority: refereed empirical research papers, reports, and opposite applicable literature on current firms’ upright value reporting usages.To get nigh perspective on the current state of dependable value accounting, the author begins with a literature review of some of the most chief(prenominal) issues relating to the concept. 3. LITERATURE REVIEW 3. 1. Statement of Financial Accounting Standards (FAS 157) FAS 157 defines passably value as the price that would be received to sell an asset or paid to transfer a financial obligation in an orderly transaction in the midst of food mart participants at the measurement date. This definition abandons a longstanding exercising of using the transaction price for an asset or obligation as its initial amusement park(a) value.In other words, dependable value giv e no long-dated be ground on what you pay for something; it go away now be base on what you ignore sell it for, also known as its ? exit price.? Just as classical, this definition emphasizes that middling value is foodstuff found†requiring the consideration of what other mart participants might pay for somethingâ€and is no longer entityspecific. evaluation force now be determined by a skeptical, rather than optimistic, buyer. In turn, the level of entropy available to measure decorous value allow for determine how the valuation of an asset or liability is determined.Common valuation techniques identified by FAS 157 ar the market approach, income approach and/or embody approach. These models require inputs that reflect assumptions that market participants would use for pricing an asset or liability. Observable inputs would be based on market data obtained from self-directed sources, such as line of descent exchange prices. Meanwhile, in the absence of an lively market for an asset or liability, unobservable inputs reflect the reporting entity’s own assumptions.The standard provides a unobjectionable value hierarchy that gives highest priority to quoted prices in restless markets ( delimit as level 1) and lowest priority to unobservable inputs (level 3) (Sinnett, 2007). 3. 2. Mark to Market Mark-to-market accounting refers to the accounting standards of assignment a value to a position held in a financial instrument based on the current fair market price, rather than its pilot burner approach or book value, for the instrument or similar instruments. Fair value has been part of U. S. generally accepted accounting principles (GAAP) since the early 1990s.Investors demand the use of fair value when estimating the value of assets and liabilities. This has been influenced by investors’ proneness for a to a greater extent realistic appraisal of an brass’s or a confederacy’s current financial position. Mar k to market is a measure of the fair value of accounts that finish change over time, such as assets and liabilities. For example, financial instruments traded on a incomings exchange, such as commodity contracts, argon marked to market on a day-by-day basis at the market ending (Metzger, 2010). When banks mark to market, they follow deuce clapperclaws.First, they estimate the net accomplishable value of their portfolio of asset-backed securities. This involves discounting the coin unravels of these assets. Then under fair value accounting, they piss to take a haircut on these values that takes into account the price at which they could sell the assets. When the market is non functioning, of course, this haircut is very(prenominal) large. This is important because it suggests that the long decline in the value of bank assets is not due to a decline that has originally occurred†notwithstanding rather to the market’s judgment most the assay of resale by a pur chaser.It is this take a chances thatâ€when combined with fair value accountingâ€has forced the write- rarifys in bank assets (Wallison, 2009). 3. 3. Relevance 13 International ledger of moving in and Social Science Vol. 2 No. 20; November 2011 The debate of fair value accounting meatyly revolves around the issues of relevance and dependableness. Before discussing the issues of relevance of fair value, the author looks briefly at how fair value and relevance are generally defined.Fair value is defined in the FASB’s Preliminary View documents as an estimate of the price an entity would accomplished if it has sold an asset or paid if it had been relieved of a liability on the reporting date in an arm’s â€length exchange motivated by normal business consideration. Relevance is defined in the glossary of the FASB Statement of Financial Accounting Concepts No. 2 as the capacity of cultivation to make a ine superior in a decision by helping users to form soothsayings most the issuances of past, present, and incoming events or to confirm or correct medical prognosis (Poon, 2004). 3. 4.Reliability and Measurements Reliability is defined in the glossary to the FASB Statement of Financial Accounting Concepts No. 2 as the quality of information that assures that information is reasonably unleash from error and bias and faith generousy represented what it purports to represent. Fair value as an estimate of exit value under normal market condition is intimately defined and noncontroversial when in that location are well-established liquid markets. What if there is no liquid market? This is the location in which an estimation of fair value go forth inevitably involve prediction of future cash flows and s preference of appropriate discount place.These estimates depend on centering’s assumptions and measurement error. This has the potential to mask deliberate miscalculation and manipulation of the numbers. Both the FASB and the JWG agnise that some profound measurement issues essential be resolved and they are working on growing more guidance regarding estimating fair value and establishing appropriate controls. However, it should be noted that the use of estimate is an essential part of preparation of financial statements, e. g. the ubiquitous use of estimates in pension accounting (Poon, 2004).If markets were liquid and rank(a) for all assets and liabilities, fair value accounting clear would be undeviating information helpful in the decision-making process. However, because more another(prenominal) assets and liabilities do not shake off an restless market, the inputs and methods for estimating their fair value are more intrinsic and, therefore, the valuations less accredited (Bies, 2005). 3. 5. Verification As the compartmentalisation and complexity of financial instruments emergences, so does the need for independent verification of fair value estimates.However, verification of va luations that are not based on observable market prices is very challenging. Many of the values allow be on inputs and methods selected by trouble. Estimates based on these judgments exit likely be difficult to verify. Both auditors and users of financial statements, including credit portfolio managers, exit need to place greater emphasis on understanding how assets and liabilities are measured and how reliable these valuations are when making decision based on them (Bies, 2005). 3. 6.Disclosure The FASB states that the proposed update would change the wording used to describe the principles and requirements in U. S. GAAP for measuring fair value and for disclosing information closely fair value measurements. Specifically, the proposed update would include amendments to (a) clarify FASB intent roughly fair value application of active fair value measurement and disclosure requirements, and (b) change a particular principle or requirement for measuring fair value or disclosing information closely fair value measurements (Elifoglu et al. 2010). 3. 7.Financial Instruments Financial instruments versus nonfinancial instrumentsâ€many fascinate fundamental inconsistency between measuring financial instruments at fair value and nonfinancial items largely on historic cost basis. Standard-setters recognize that whenever a boundary is drawn between financial statement items with different measurement specifys some inconsistencies and complexities very more than results. It is repugnd that there is economic logic in plan a line between financial instruments and nonfinancial items, and more so than drawing a line including some inancial instruments but not others (Hague, 2002). Conceptually, the periodic returns on financial instruments crumb be separated into three lucks with distinct sustainability or authenticty. The graduation exercise two componentsâ€amortized cost touch on and the difference between fair value lodge in group and amortized cost interest-sum to fair value interest. It is useful to distinguish these two components of fair value interest because amortized cost interest is both sustainable and authoritative, whereas the difference between fair value interest and amortized cost interest is sustainable but groping.The difference between fair value interest and amortized cost interest is sustainable because un anticipate changes in interest rank and the resulting un anticipate changes in fair values modify fair value interest calculations throughout the stay lives of financial instruments. 14 © Centre for Promoting Ideas, USA www. ijbssnet. com For example, an un pass judgment gain on a financial asset due to a subside in interest rates in the current period reduces expected fair value interest revenue on the asset throughout its remaining life.This third component of the periodic returns to financial instruments is the unexpected change in their fair values during the period. Unexpected changes in t he fair values of financial instruments are both unsustainable and un current (Ryan & et, al. , 2002). 3. 8. Financial Reporting The reporting of financial assets and liabilities is an election on a contract-by-contract basis and not mandatory. Therefore, not all instruments will necessarily be describe at fair value.In order to distinguish instruments that are describe at fair value from those that employ some other measurement, firms will earn one of two reporting options on the statement of financial position. A firm may display the two classifications, fair-value and non-fairvalue carrying amounts, as separate line items on the statement of financial position. The second option for reporting is parenthical disclosure where the firm presents the aggregate of the two classifications and discloses the amount of the fair value parenthically (Schneider & McCarthy, 2007). . 9. Critics of Fair Value Critics argue that fair value accounting has created a false short visib ility in the case of pension support and hastened the demise of defined benefit schemes. More generally, critics argue that the financial crisis demonstrates the pro-cyclicality of fair values when accounting is tightly coupled to prudential regulatory systems, and the unreliability of print to model in less than liquid asset markets, especially for assets which are being held for the long term (Power, 2010).They also add that the impact of fair value accounting (FVA) is likely to be more sumptuary lending policies, and more demanding loan covenants, than are obligatory for sound take chances wariness, together with pricing which will be higher than is economically necessary (Allatt, 2001). Moreover, several(prenominal) commentators remarked on the fictional and imaginary nature of fair value and bemoaned their subjectivity and potential for manipulation and bias.Regardless of whether these criticisms have substance, it is also the case that if enough people turn over in fict ions, then they spate play a graphic symbol in constituting markets (Power, 2010). Many are loose with historic cost/realization accounting on the grounds that it is familiar and provide a more stable basis for prediction of future accounting than fair values. They argue that fair value based meshing cannot be predicted in the same way because of the make of uncertain future events and see this as a significant drawback in being able to prepare budgets, forecasts, etc. nd to manage analysts’ expectations (Hague, 2002). Nevertheless, many critics of the subjectivity of fair value miss the real exhibit. The very idea of reliability is being reconstruct in front of their eyes by shift the focus from transactions to economic valuation methods, and by giving these methods a firmer institutional footing. Deep down the fair value debate seems to hinge on fundamentally different conceptions of the basis for reliability in accounting, making it less of a technical fight and mo re of the politics of acceptability (Power, 2010). . 10. Proponents of Fair Value Few will interrogatory the relevance of information based on market prices as historic cost information is based on market prices at which assets were initially acquired and liabilities were initially incurred whereas fair value are based on current market prices. Fair value reflects the effects of changes in market conditions and changes in fair value reflect the effect of changes in market conditions when they take place. In contrast, historical ost information reflects only the effects of conditions that existed when the transaction took place, and the effects of price changes are reflected only when they are realized. As fair value incorporate current information about current market conditions and expectations, they are expected to provide a superior basis for prediction than outdated cost figures can since these outdated cost figures reflect an outdated market conditions and expectations (Poon, 2004).Proponents of fair value in accounting often appeal to notions of state things as they are and of improving transparency. They point to areas such as pension accounting or the savings and loans industry in North America where fair values would have made problems (deficits, poor execute loans) visible much earlier, thereby enabling restorative action. An often heard trope is that one should not shoot the messenger of poor asset quality (Ebling, 2001). 4. FINDINGS bandage there is a large number of assets and liabilities account or disclosed in financial statements, the percentage of these items and the dollar impact on earnings may not have been exorbitant for most companies, except for financial institutions. 15 International Journal of Business and Social Science Vol. 2 No. 20; November 2011 In 2008, only 27% of the total assets of the S&P 500 companies that had adopted FAS 157 were actually reported at fair value (Zion et al. , 2009). While this represents about $6. 6 trillion in assets, it is still a relatively small percentage of the assets.Because of the mixed attribute model used in U. S. Generally authoritative Accounting Principles (GAAP), some assets are measured using fair value while othersâ€even very similar assets are measured at cost, or amortized cost, or by some other measure. The nature of the assets held by these companies determined, to a large extent, their exposure to risk in the credit crisis. Companies in the financial sector had a much larger number of fair valued assets (39%) then did, for instance, companies in consumer staples (2%).Even inwardly the financial sector, investment banks and insurance companies, most of whose assets are reported at fair value, were impacted more than commercial banks, whose largest assets is generally loans, which are not reported at fair value (Casabona & Shoaf, 2010). In addition, there is ample empirical evidence to support the relevance of fair value information of financial i nstruments. For example, Barth (2006) finds that fair valuation of investment securities influences the share price indicating that it provides extra information to investors.Additional discussion of findings of research on accounting for fair value of financial instruments can be build in FASC 1998 study (Poon, 2004). 5. ANALYSIS AND DISCUSSION While most people agree that fair values are the most relevant measure for financial assets and liabilities that an entity actively trades, some (most notably, those in the banking industry) argue that historical cost is the more appropriate measure if centering intends to admiration an asset or to owe a liability until maturity.The rationale for accounting on a historical cost basis is that it better reflects the economic substance of the transactions and the actual cash flow over time. They argue that fair value information, on the other hand, would reflect the effects of transactions and events in which the entity would not participate and thus is often irrelevant. The question here is whether direction’s decision to hold assets or to continue to owe liabilities in lighten up of changed market condition is relevant in evaluating the entity’s financial position and performance (Poon, 2004). slightly also argue that the outcome of fair value accounting on entity’s financial liabilities is counterintuitive if its credit risks changes. The fair value of a financial liability will decrease when the issuing entity’s credit risk deteriorates because the interest rate on the initial issue date would now be lower than what it would be if the liability was issued today. Conversely, if an entity’s credit rating improves, an increase in the fair value of its financial liability will result.However, as justifyed in Barth and Landsman (1995), changes in the credit rating represent wealth transfers between creditors and stockholders. It is not counterintuitive to see a decrease (an increase ) in the value of a financial liability when there is a wealth transfer from creditor (stockholders) to stockholders (creditors) fit to the deterioration (improvement) of the credit rating of the issuing entity. Therefore, the outcome of fair value accounting is not quickly counterintuitive.But as illustrated in Lipe (2002), financial statement users must be better enlightend about the impact of fair value accounting on financial liabilities. In particular, a decrease (an increase) in the fair value of financial liabilities should not be understand as positive (negative) if it is due to deteriorating (improving) credit quality. In addition, loan covenants have to be revised and financial ratios involving financial liabilities have to be analyzed then (Lipe, 2002).Still another argument against fair value accounting is the induced volatility of earnings if changes in fair values are reported in earnings. Some believe that this volatility of earnings may not correlate to manageme nt’s performance and that this would make it more difficult for users to predict future performance. First, this is not a reliability issue since fair values can be reliably measured but still vary a great dole out from one period to another.Second, the requirement of fair value reporting does not have to go hand in hand with the requirement of recognizing changes in fair values in reporting earnings (Poon, 2004). For this reason changes in fair value should be separately reported based on causes such as the passage of time, changes in market conditions, changes in the entity’s financial health, changes in estimate, and changes in valuation techniques.Requiring fair value information as supplemental disclosures quite of financial statement recognition also addresses some of the concerns (e. g. , volatility of reported assets, liabilities, and earnings) of the opponents of fair value accounting. In addition, this will allow financial statement users to break up on t heir own how much reliance they will put on and how to use fair value information (Poon, 2004).FSP FAS 175-4 provides application guidance to assess whether the muckle and level of activity for asset or liability have significantly decreased when compared with normal market conditions. However, this assessment should consider whether there are factors present that render that the market for the asset is not active at the measurement date, such as : (a) there are few recent transactions based on volume and level of activity in the market, (b) price quotations are not based on current information , 16 © Centre for Promoting Ideas, USA www. ijbssnet. com c) price quotations vary significantly either over time or among market makers , (d) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) (e) There is a significant decline or absence of a market for new issuances (Casabona & Shoaf , 2010). Research by Federal nurse staff shows that fair value estimates for bank loan can vary greatly, depending on the valuation inputs and methodology used. For example, observed market rates for corporate bonds and syndicated loans with lower-rated categories have varied by much as 200 to 500 basis points.Such wide ranges occur even in the case of senior bonds and loans when obligors are matched. Moreover, the FASB statement on the proposed fair value standards that reliability can be significantly enhanced if market inputs are used in valuation. However, because management uses significant judgment in selecting market inputs when market prices are not available, reliability will continue to be an issue (Bies, 2005) 6. RECOMMENDATIONS In order to provide more relevant information to financial statement users, fair value information should be reported for all financial assets and liabilities.Given that there are still some important conceptual and practical issues relating to t he reliable determination of fair value, it is better to first require full fair value disclosures before contemplating a shift to full fair value recognition in financial statements. That would enable investors, creditor, preparer, auditors, and regulators to learn from experience. When the issues relating to the reliable determination of fair values are resolved, they will be ready(a) for full fair value recognition in financial statements (Poon, 2004).The author concords with the SEC recommendations, which are expected to impact the FASB’s future activities, including (a) improve fair value accounting standards (b) improve the application of existing fair value requirements (c) readdress the accounting for financial asset impairment s (d) establish formal measures to address the operation of existing accounting standards in practice (e) implement further guidance to foster the use of sound judgment of practitioners (f) address the need to simplify the accounting for inves tments in financial asset (Casabona & Shoaf, 2010).The first priority seems to be to work in close co-operation with users and preparers of financial statements to further consider the practicality of the proposals and to demonstrate or refute the relative merits of fair value and historic cost based reporting of financial statements for users’ abstract purposes. Such work should involve rigorous interrogation to consider how fair value information would be used in decision models, as well as to stimulate the preparation of fair value information to understand better the extent of many of the practical concerns (Hague, 2002).Second, implementation of the proposals would provide more useful, relevant and transparent information about an enterprise’s use of financial instruments than is available today. The full benefits, however, will only be understood with careful study and education about how to use the new information. A somewhat different mindset and base of expertise (from that appropriate to traditional recognition and historical cost-based accounting for financial instruments) is also necessary. This includes integrating knowledge of certain finance and capital-markets concepts and practices with financial accounting objectives and concepts (Hague, 2001).Third, financial instruments should be grouped and displayed on the balance sheet based on the underlying characteristics of the instruments, such as compulsory rights to receive or obligations to deliver, and by major classes within these groups. Detailed, descriptive information about the nature and price of these financial instruments, as well as management’s policies pertaining to them, should be disclosed in the notes to the financial statements in a manner conformable with the balance sheet (Anonymous, 2002). Fourth, fair values reflect point estimates and by themselves do not result in transparent financial statements.Hence, supernumerary disclosures are necessary to bring meaning to these fair value estimates. FASB’s proposal take a first step toward enhancing fair value disclosures related to the reliability of fair value estimates. Additional types of disclosures should be considered to give users of financial statements a better understanding of the relative reliability of fair value estimates. These disclosures might include key drivers affecting valuations, fairvalue-range estimates, and confidence level (Yonetani & Katsuo, 1998). Finally, another important disclosure consideration relates to changes in fair value amounts.For example, changes in fair value of securities portfolio can overdress from movements in interest rates, foreign-currency rates, and credit quality, as well as purchases and sales from the portfolio. For users to understand fair value estimates, they must be given adequate disclosures about what factors caused the changes in fair value (Bies, 2005). 7. IMPLICATIONS FOR FINANCIAL coverage AND MANAGERIAL DECISION-MAKING Several implications are drawn from this paper. 17 International Journal of Business and Social Science Vol. 2 No. 20; November 2011First, standard-setters and regulators would be call for to provide more specific guidance on how to determine fair value for financial statements. Perhaps, they can list some common valuation techniques and indicate their appropriateness in various circumstances. Disclosure requirements would include disclosure of fair value of all financial instruments along with method adopted to determine fair values, any significant assumptions used in their estimation, some indications of the sensitivity of the estimated fair value to these assumptions, and discussion of risk exposure and issues associated with the estimation of fair value (Poon, 2004).Second, the role of external financial reporting is to portray an enterprise as if seen through the eyes of managementâ€that is, that financial reporting should be consistent with internal manag ement practices. It is, evidently, desirable that there be as much compatibility between the two as possible. However, it is difficult to see how accounting that is driven by the manner in which an enterprise chooses to manage its financial instruments and risks can provide information to financial statement users that are consistent and comparable between enterprises (Hague, 2002).Third, the objectives of financial analysis are to discern and assess the effects to an enterprise’s performance and financial condition, including those that result from its risk management policies and decisions that involve financial instruments. In addition, financial statement users want to assess how well an enterprise hard-hittingly applies these policies in managing the risks of the enterprise. Therefore accounting and disclosure requirements related to financial instruments must be designed to explain (a) risks inherent in a given business (b) hedging strategies employed and (c) outcome (s) of such hedging activities.In other words, financial and nonfinancial disclosures should provide sufficient information for users of this information to discern and answer question, such as these: (a) what are management’s policies and procedures for using certain financial instruments? (b) How extensively does the enterprise use these financial instruments as part of its risk management? (c) What are the timing and the magnitude of the effects of the instruments on fair values in the balance sheet and changes in these values reflected in the income statement? d) How effective, or ineffective, are the position in these financial instruments as hedges in managing the risk exposure of the enterprise? And (e) what portion of the gains and losses reported in the balance sheet and income statement is realized and unrealized? (Anonymous, 2002). Fourth, the fact that management use significant judgment in the valuation process, particularly for level 3 estimates, add to the co ncern about reliability. Management bias, whether intentional or unintentional, may result in inappropriate fair value measurements and misstatements of earnings and equity capital.This was the case in the overvaluation of certain residual trenches in securitizations in recent years, when there was no active market for these assets. Significant write-downs of enlarged asset valuations have resulted in the failure of a number of finance companies and depository institutions. Similar problems have occurred due to overvaluations in nonbank trading portfolios that resulted in overstatements of income and equity. The opening move of management bias exists today. There continue to be new stories about charges of earnings manipulation, even under the historical cost accounting framework.It is believe that, without reliable fair value estimates, the potential for misstatements in financial statements prepared using fair value measurements will be even greater (Bies, 2005). Fifth, three fu ndamental goals of accounting that are likely to have influenced the select of fair value accounting for all financial firms. One of these objectives is to minimize what is called management bias. Management has an obvious incentive to inflate the value of a company’s assets, and many ways to do it. scaling a company’s assets to market is an effective way of taking his element of financial statement manipulation out of management’s manpower (Wallison, 2009). Finally, the option to use fair value for certain assets and liabilities will provide more relevant information to the users of financial statements. However, since the fair value usage can be elected for some financial assets and financial liabilities and avoided for others, there is a loss of consistency in the financial statements between entities and even within a single entity. Also the new standard imposes additional disclosure requirements (Schneider & McCarthy, 2007). 8. CONCLUDING REMARKSCur rent methods of accounting for financial instruments have been of concern to accounting standard-setters around the world for some time now. These concerns about financial instruments start from the contemplation that markets now exists for either the instruments themselves or the various financial risks that arise from the instruments, and the availability of those markets enables entities to actively manage the financial risks and, thereby, to realize some or all of the market value of their financial instruments with ease. (Ebling, 2001). 18 © Centre for Promoting Ideas, USA www. ijbssnet. comIt has been argued that different conceptions of what is for an accounting estimate to be reliable underlie the fair value debate as it has taken shape in the last decade. The wrangle of subjectivity and objectivity is unhelpful in characterizing what is at stake; it is more useful to focus on the question of how certain valuation technologies do or don’t become institutionally a ccepted as producing facts (Power, 2010). However, the shift in accounting principles will not come without some additional effort by all capital market participants, including preparers, auditors, regulators, and users of this information.It is realized that accounting and reporting based on fair value principles, in comparison with historical cost-based principles, require more extensive and detailed analysis of the methods and assumptions used to determine values recognized in the financial statements. This in turn, will require market participants to plan the current financial reporting model and to educate themselves in the application of these new principles. Nonetheless, transparency of the true up economic consequences, i. e. isks and rewards, resulting from the use of financial instruments justifies the movement to a fair value based model for financial reporting (Anonymous, 2002). Certainly, mark-to-market reporting has its drawbacks, especially for derivatives. First, fair value based on market prices can be difficult to determine for complex and lightly traded instruments. These types of derivatives are the level 3 type mentioned above. These derivatives are unremarkably measured using a mark-to-model process, which can be arbitrary at best and fraudulent at worst.Next, there is the theoretical issue, as banks successfully argued, as to whether market price does indeed represent fair value. Also, the relevance of market prices can be challenged with respect to intent. Some observers challenge the relevance of market prices because they believe that, if government officials do not intend to trade derivatives but rather hold them to maturity, as is ordinarily the case with derivatives used for hedging, then the time and depreciate of determining fair value may not be worthwhile.Still, using fair value accounting is proper for derivative reporting because it enhances the following qualities or objectives of financial measurement and reporting: a ccountability, transparency, consistency, inter-period equity, and risk management (Metzger, 2010). REFERENCES Allatt, G. (2001). Fair value accounting: Examining the consequences. Balance Sheet, 9, 22-26. Anonymous (2007). Statement of financial accounting standards No. 159: The fair value option for financial assets and financial liabilities. Journal of Accountancy, 203, 96-101. Anonymous (2002). Financial instruments: Fair values and disclosure.Balance Sheet, 10, 12-20. Bath, M. (2006). Including estimates of the future in today’s financial statements. Accounting Horizon, 20, 271-286. Barth, M. & Landsman, W. ( December, 1995). Fundamental issues related to using fair value accounting for financial reporting. Accounting Horizons, 97-107. Bies, S. S. (2005). Fair value accounting. Federal Reserve Bulletin, 91, 26-30. Casabona, P. & Shoaf, V. (2010). Fair value accounting and the credit crisis. Review of Business, 30, 19-31. Chambers, A. ( March, 2008). How do you mark to market? Euromoney, 1-3 Ebling, P. (2001). Fair value accounting: Breaking a butterfly upon a wheel?Balance Sheet, 9, 22-27. Elifoglu, I. H. , Fitzsimons, A. P. , & Lange, G. A. (2010). FASB proposal clarifies fair value measurement and disclosure. Commercial impart Review, 75, 42-48. Hague, I. (2001). Fair debate for fair value. CA Magazine, 134, 47-49. Hague, I. (2002). Fair value for financial instruments: Where to next? Balance Sheet, 10, 8-12. Lipe, R. (2002). Fair value debt turns deteriorating credit quality into positive signals for capital of Massachusetts Chicken. Accounting Horizons, 17, 169-181. Metzger, L. (2010). Mark to market governments. The Journal of political relation Financial Management, 59, 16-20. Poon, W. W. (2004).Using fair value accounting for financial instruments. American Business Review, 22, 39-44. Power, M. (2010). Fair value accounting, financial economics and the transformation of reliability. Accounting and Business Research, 40, 197- 211. Ryan et al. (2002). Reporting fair value interest and value changes on financial instruments. Accounting Horizons, 16, 259-268. Schneider, D. K. & McCarthy, M. G. (2007). Fair value accounting broadened with FAS-159. Commercial Lending Review, 45, 28-36. Sinnett, W. M. (2007). New fair value standards stress HOW not just WHAT. Financial Executive, 23, 33-36. Wallison, P. J. (2009).Fixing fair value accounting. OECD Journal on Budgeting, 9, 99-105. Yonetani, T. & Katsuo, Y. (1998). Fair value accounting and regulatory capital requirements. Economic insurance policy Review, 4, 33-44. Zion, D. , Varshney, A. & Cornett, C. ( June, 2009). Focusing on fair value. Credit Suisse impartiality Research, 4, 18-20. 19 Copyright of International Journal of Business & Social Science is the property of Centre for Promoting Ideas and its theme may not be copied or emailed to triple sites or posted to a listserv without the copyright holders bring written permission. Ho wever, users may print, download, or email articles for private use.\r\n'

'IMPACT SOCIO CULTURAL FACTORS ON BUSINESS Essay\r'

' backup is an economic activity and decision making by the man shape upment is an economic process. It will be influenced by economic and non economic environment of line of products. You will jimmy that the blood line sector environment is quit complex, with heterogeneous elements in the environment. A manager must(prenominal)iness understand and examine this process of interaction. In particular, you must none that whole non-economic, environmental variables arrive economic implications, and that is why these variables on an someone basis or jointly, affect business activity.\r\nBusiness must have a favorable pur affectation; business concern must discharge companionable responsibleness and social obligations and have social commitment. Otherwise business cannot enjoy social sanction. We may identify the censorious elements of the sociological environment of business. These elements be: brotherly institutions and systems\r\n companionable value and attitudes\r\nE ducation and refining\r\nRole and responsibility of presidential term\r\nSocial groups and movements\r\nSocio-economic suppose\r\nSocial problems and prospects\r\nSocial institutions and systems\r\nSocial Institutions and systems develop through history, culture and heritage. The grade system, the fount family system, child marriage, sad and the patriarchal family atomic number 18 all examples of social institutions and systems. Until the new-fangled past the set system ensured a very simple occupational division of labour in our society. The place of the individual was very clearly delimitate in the social hierarchy of the joint family system where division making was centralized in the head of the family who commanded respect for his age and experience. Social Values and Attitudes\r\nIn India Today, most of\r\nthese old-fashioned social institutions are dying fast. It is because the social value and attitudes are changing very fast. The western values of individualism h ave caught our imagination. Indian women no overnight remain satisfied as housewives. Business does not remain confined any more in spite of appearance a given community or caste. Customs, traditions and conventions are no longer rigid. They become flexible. Society’s view of its authorities, responsibilities and delegation, its attitude towards business as a art, towards achievement and work, towards ownership and management-all have very distinct implications for the sociological environment of business. Education and Culture\r\n thus come Education and culture as an ingredient of the sociological environment. In this category you may incline the attitude towards upbringing; the need for business breeding; education matching the skill requirement of fabrication and manpower utilization the role of business schools and executive director development programmes ; education versus training ; correlation in the midst of sortal literacy and the level of culture; the spread of education and its impact on business ethics ; hooey progress and business morality ; business culture and organizational culture. Role and Responsibility of the Government\r\nAt a given point of time, society has a level of achievements and aspirations. Such achievements and aspirations have to be defined clearly and categorically, and any divergence between the both has to be bridged through relentless social drift taking care of social well-being and social constraints. This is where the role of the Government as a welfare state comes in. The government is the apex social institution. It is the Government which has to make sure that social progress is not handicapped by the tyranny of the majority, otherwise social tension. Social Groups and Movements\r\nSocial tension originates in groups represent of frustrated individuals from groups on the basis caste, creed, religion, language, handicraft and profession and similar other factors. Social groups and the social mo vements that they machinate are a critical variable of the non-economic environment. some of these groups have direct business interests. Thus, consumerism, trade unionism, the conjunct movement, professional management, and shareholder’s associations all pose challenges for business operations. Socio-economic order\r\nIn a untaught like India, we have a plural society. Ours is a land of a variety of food, dress, languages, religions, and culture. We also have dual economy with the traditional sector co-existing with the recent sector. Technological dualism in India is very pronounced. Bullock Carts run on the roads and the Airbus flies through the sky. every these make a very unique socio-economic order for India today. From time to time, this social order gets disturbed and modified, hopefully for the better, through social movements and social policy planning on subjects like science and technology, ecology and forestry, family planning, fauna husbandry etc. Soc ial problems and prospects\r\nSocial Problems and prospects are just offshoots of a changing socio-economic order. You might be aware that ensuant to industrialism and socio-economic development in many a(prenominal) developing countries, the death rate has fallen hot than the Birth rate, and this has resulted in an explosive proceeds of population. This in turn has brought about growing unemployment and poverty, poor lodging and sanitation, urban congestion, pollution and increasing incidence of anti-social activities. Therefore, economists imply that you should always attempt a social cost-benefit analysis of industrial development. As society moves from the pre-industrial stages of development, social benefits must outweigh social costs, otherwise the emerging naked social order will prove unsettled SOCIAL military campaignS\r\nThe nation has witnessed several social movements. With the exit of time, as industrialisation proceeded either in the form of a revolution or e volution, sooner or later organised movements were engineering by respective(a) social groups to protect their own interests. The class-conflict grew in intensity, and consequent upon that grew a variety of social movements. THE TRADE heart MOVEMENT\r\nTrade unionism is the child of industrialisation. With the growth of the industrial culture, workers have felt that their socio-economic interests cannot be protected if they do not come together in some sort of organized union. THE CONSUMER MOVEMENT\r\n corresponding the labour movement, the consumer movement also exercises a extensive influence on the socio-economic environment of business. A knockout consumer movement is the sine qua non of a healthy home sector in an economy. THE MANAGEMENT MOVEMENT\r\nCompared to trade unionism and consumerism, the management movement in India has been relatively strong and distinct. Since Independence, one finds certain distinct trends in our corporate management Philosophy and structure. Independent India transmittable a structure of corporate management which was henpecked organisationally by the Managing Agency System, and entrepreneurially by particular business communities and, among them again by a group of families of bragging(a) business houses. THE\r\nSHARE HOLDER’S MOVEMENT\r\nIn our socio-culture environment of business, the shareholders’ movement is a recent offshoot of the professional management movement. The shareholders ‘are progressively becomingly becoming aware of their legitimate rights. environmental MOVEMENT\r\nIssues related to protection of the environment and ecology have received worldwide attention not only in developed countries but also in the developing countries. Increasing concern has been verbalized about environmental degradation which can venture human life and existence.\r\n'