Why did the global financial system meltdown in 2008 Essay

For what reason did the worldwide monetary framework emergency in 2008 - Essay Example The expansion in the quantity of terrible credits prompted degrading of organization resources and the benchmark lists plunged because of the disintegration of financial specialist certainty. This impact spread across different economies of the world. The national creation levels, imports and fares brought which gave ascend down to decrease of utilization request. The fall of utilization in the economy again pulled down the profitability levels in this way framing an endless loop which incited proper activities from policymakers for monetary recuperation. Review and key discerning concepts:â global money related framework emergency and pertinent issues of world economy The worldwide monetary emergency that happened in 2008 had its root in the financial emergency in US. The financial emergency in US began with the emergency in the lodging markets of US. The costs of the lodging market were consistently expanding during the center time of the 1980s to 1990s. The interests in the lodgi ng market were rewarding as the financial specialists in land and lodging properties could understand numerous estimations of their underlying ventures inside a brief timeframe. The venture reserves were obtained from the banks and monetary foundations. The banks and the money related foundations additionally saw that their credits could gain them premium reimbursements in brief timeframe and the fundamental home loan properties were likewise of high incentive in the market. In the predicament of higher development in limited capacity to focus time, the money related foundations needed due constancy while evaluating the credit boundaries of the borrowers. The approaches of the US government additionally affected such exercises in the market as each resident of US had a basic right of holding lodging property. This marvel prompted the development of a lodging bubble. Because of absence of more tight credit arrangements, the pay level of the borrowers and their past record of loan rep ayment were not completely checked. This caused the lodging air pocket to blast when the borrowers at one purpose of time couldn't reimburse the advances. The emergency circumstance happened when the heaviness of awful advances expanded past extents (Kates, 2011). The monetary organizations and the corporate houses which held the lodging properties as basic home loans caused substantial misfortunes because of the awful ventures. The offer costs of the organizations including enormous names like the Lehmann Brothers fell and the shareholders’ riches was dissolved in speedy time. This prompted a colossal emergency in the economy of US that made the monetary downturn in 2008. The monetary emergency in US is additionally alluded to as the subprime emergency. The misfortunes that happened in the lodging market is alluded to as subprime in light of the fact that this market had a generally lesser adherence to credit boundaries for loaning and included borrowers who couldn't profit advances from the prime house loaning market. The monetary emergency gradually and bit by bit spread to different economies too and the worldwide budgetary framework was hit by the financial emergency (Allen, 1999). This was the period of financial changes by creating nations like China, India which prompted its incorporation with the world exchange. The worldwide economy was vigorously reliant on the fares and imports of the nations everywhere throughout the world like US, UK, Canada, nations of the European Union, Middle East, China, India, and so on. The monetary emergency in US prompted the fall of utilization request and efficiency in the economy. Thus, the fares and imports of the nation hampered which thus influenced the imports and fares of different nations everywhere throughout the globe. Along these lines the impact of monetary emergency softened down to the economies too

A clockwork orange: chapter One Essay

One gets an underlying impression of Alex and his companions from the primary page: Alex says, â€Å"There was me†¦ and my three droogs†. Quickly this recommends he and his companions are close, similar to a pack, and this leads on to strife. The closeness of Alex and his companions is expounded upon all through the part. He as often as possible uses the expression â€Å"The four of us† and, when addressing Pete, Georgie and Dim, he says, â€Å"Oh my brothers†. Their nearby brotherhood is summarized on page six, where Alex portrays it as being â€Å"usually one for all and for one†. At that point he starts to depict three â€Å"devotchkas†, whom one presumes to be individuals from an adversary group (the peruser is informed that Alex and his companions are â€Å"malchicks†). There is no curtness in Alex’s depiction, and he really expounds while portraying the garments and make-up. It is likely here that Alex has a specific regard for these posse individuals, showed by his long portrayal of their brilliant regalia, and by the way that he theorizes on the huge expense of these garbs. Be that as it may, there is likewise an away from of joke. This is particularly evident in the sentence â€Å"These should be†¦ â€Å", with an accentuation on the word â€Å"suppose†. He is placing the credulity of the pack into question, exposing their cases. This is very whimsical in certain regards, and helps the peruser to remember his youthful age. Alex and his â€Å"droogs† likewise wear outfits, and Burgess depicts them such that makes them extraordinary to those four †by mentioning to the peruser what plan every one of the four had for their â€Å"jelly mould†, he is putting them separated from the remainder of the world, giving them a uniqueness and style that nobody else has. The outfits are additionally a hindrance among them and the remainder of the world. This is additionally valid for the â€Å"maskies† that the four regularly wear. Just as the more viable utilization of concealing their face from acknowledgment, the covers separate the young men from the remainder of society, making them stick out, and maybe feel predominant. Additionally, the preposterous ensembles, to pick a superior word, are an away from of disobedience. It is unexpected, hence, that the young men wear them, as outfits have consistently been related with congruity. The language of the young men is the best at recommending struggle with the outside. In any case, the words are exceptionally cruel. Hard sounds, particularly clear with the numerous Ks, make the words boundlessly progressively savage. The language used to portray others is corrupting: elderly people ladies are â€Å"ptitsas† and men are â€Å"vecks†. The young men don't utilize this language when addressing individuals who are not associated with pack fighting. To the man coming out of the library, Alex is well mannered and uses for the most part reasonable language. It is clearly in light of the fact that he is taunting the man, however it is likewise potentially on the grounds that he would not comprehend (since it appears that he talks ordinarily). So this is their language, something they use to one another. This is a clear case of their contention with the â€Å"outside†. In any case, the language not just goes about as a boundary between the four young men and the more seasoned citizenry: it additionally goes about as a hindrance between the young men and the perusers. For anybody beginning the book just because, the words utilized are puzzling, and it takes a great deal of becoming acclimated to. Also, Alex wants to clarify what a portion of the words mean: â€Å"†¦ a rooker (a hand, that is)†. It is now that the perusers become, as a result, a piece of the general public that Alex is defying. We are outwardly. At last, the language is utilized in such a phenomenal way, that it estranges us considerably further. It is in certain occurrences very chilling. Words like â€Å"poogly† are puerile; the best model is â€Å"appy polly loggies†, which is some debased infant rendition of the word â€Å"apologies†. It differentiates the unmistakable savagery of the book, giving it a much progressively savage tone. It is a weird blend for Alex to utilize, reminding the peruser that he is youthful. In addition, in addition to the fact that it makes the peruser mindful of the contention Alex has with society, yet additionally the profound battle that is going on in Alex’s mind. 1. What impressions would we say we are given of the general public and nature introduced in section one? Use models. (10 denotes) The early introduction one gets when finding out about Alex’s world is the thing that a completely dingy spot it must be. The â€Å"Korova Milkbar† sounds engaging but instead run down, and one is educated that it is one of numerous â€Å"mestos†. Clearly it sells milk, however perusing further on, one is informed that this milk is â€Å"plus something else†, that something different being stimulating medications or some likeness thereof. It is then that one gets a thought of the evil of the general public wherein Alex lives. Alex then notices what he and his companions do to acquire cash: it is possible that they can thump somebody in a rear entryway and void his pockets, or they can â€Å"do the ultra violent† on an older lady in a shop and take the cash from the till. One understands that, reasonably clearly, something has turned out badly with the world in Alex’s time. Different rough and criminal points follow, for example, posse fighting and the depiction of a medication prompted â€Å"high†. It illustrates a world wherein viciousness rules, where there are no principles any more and society has broken down. This is sponsored up by the way that any sort of law requirement isn't referenced until some other time in the section. These â€Å"millicents† are clearly not significant and Alex and his companions can without much of a stretch outfox them. Along these lines, in actuality, there is no law requirement. From the get-go, the main sign that a legitimate framework exists is the way that â€Å"mestos† were not authorized to sell alcohol (which doesn't appear to stop them any way). Another part of society that isn't missing, however appears to be disagreeable, is that of writing. Alex reports that â€Å"newspapers {are not} read much† †regardless of whether this is a direct result of absence of education or simply absence of intrigue, one is uncertain. The Public Biblio, which is the forsaken sounding city library, was something that â€Å"not numerous lewdies utilized those days†. Once more, the motivation behind why isn't clear. Inferable from the other â€Å"past-times† of the day, in particular ultra-savage crimes, all things considered, no one is keen on writing any more. This absolutely fits in with the manner by which Alex and his companions mistreat a man since they saw him coming out of the library with books in his grasp. In any case, there are references to establishments that appear to be extremely dynamic in the Alex’s world. The first is the wellbeing administration. A â€Å"rozz† educates the pack that there have been â€Å"two hospitalizations†. The way that the medical clinics in Alex’s world are occupied is glaringly self-evident, because of the stature of crime. One is uncertain of how effective these emergency clinics are. In a State-run society, for example, this, one would envision they were extremely wasteful to be sure. The other establishment that is still fully operational is school. Alex himself reveals to us that he should go to class the next morning, and we later discover this is a restorative school. By and large, the world in Alex’s day appears to be amazingly distressing. Any place Alex is, it is unmistakably a police state, where individual rights and opportunities don't represent a lot. The more established, and somehow or another, pointless organizations, for example, the library framework and papers, appear to have lost intrigue totally, probably supplanted by â€Å"worldcasts† and â€Å"Milkbars†. It doesn't seem like some place anyone would really need to live.

Read Harder, Romance Style

Read Harder, Romance Style So yeah, Read Harder is about reading things you wouldn’t normally read. But there’s some benefit to some familiarity, whether in subject matter or genre. So here are a few good romances to read to help make it through the Read Harder challenge this year. (Obviously, you can’t get all of them through romance and romance-related topics, unless there’s a romance-related true crime book no one is telling me about, but most is better than none, right?) Here are the topics I’ve got for you: A book published posthumously: Merely a Marriage  by  Jo Beverly. Jo Beverly was a pioneer of historical romance, and her final book was published nearly a year after her death. A classic of genre fiction: The Grand Sophy by  Georgette Heyer. I was a latecomer to The Great Georgette. I had tried reading Faro’s Daughter and found myself far too bored to continue, but people kept encouraging me to try something else. This one is a little more of the familiar regency romance that Heyer is known to have set rolling.   A comic written and illustrated by the same person: Letters for Lucardo by Noora Heikkilä, which is also good for a comic published by someone not Big Three. And possibly a creator of color? I’m not certain. But damn, it’s beautiful. A book set in one of the BRICS countries: Sonali Dev writes vibrant, engrossing stories about Indian people and India itself, and A Distant Heart is definitely both of those things. Set in modern-day Mumbai, this one definitely qualifies for the BRICS challenge. Her other novels aren’t completely set in India, but The Bollywood Bride is probably second-longest time spent there. A book about nature: Some books on this list might be a bit of a reach, but The Countess Conspiracy is not one of them. The entire central storyline involves the reader learning way more than they expected to about floral reproduction habits, and enjoys it, too. A western: Destiny’s Embrace  by  Beverly Jenkins. For real, there are few Beverly Jenkins historicals that don’t classify as westerns, but this particular one, and the two that follow, are just so magical. Once you’re done with those, try Topaz next. You won’t regret it. A comic written or illustrated by a person of color: Alex Ada by Jonathan Luna and Sarah Vaughn. This is a strange but beautiful work of romance and science fiction. It’s so hard to explain that I’m just going to say: read it. Maybe twice. A romance novel by or about a person of color: Y’all. I made my list in the back of my planner and left twice as much space for this as the other tasks. If you’re like me, you’ve probably already read my favorite book from 2017, An Extraordinary Union. So I’m going to make the effort to try at least one new or new-to-me author this year.  For the sake of not making this post five thousand words, I’ll give you one that I’m going to read this year: Luck on the Line by Zoraida Cordova. Zoraida has gotten a lot of press this past couple years for her YA Brookly Brujas series, but she’s also got quite the backlog of adult work (and has determined that this is the year she works on another adult project). So there. Read about some chefs and stuff. A celebrity memoir: I decided to throw in a few romance-related nonfiction choices, and this is the first. She might not be a celebrity for the greater world, but Eloisa James is definitely a romance celebrity, so how about trying out her Paris in Love, about her year in Paris. Oprah’s Book Club: Not a romance, but Billie Letts’s  Where the Heart Is is a must for someone who wants the most saccharine, heartwarming, book of oddly-named people. My grandma was a religious follower of Oprah’s Book Club in the nineties and I recall this being one of the happier titles I picked up when she was finished. A book of social science: Everything I Learned About Love I Learned from Romance Novels is quite the mouthful, but it prepares you for Sarah Wendell’s hilarious prose and interesting look at the world we know. She can be pretty insightful, damn her. This particular book is a combination of literary study and sociology, so it can fall into the social science category. A one-sitting book: This one is hard, because we romance readers can turn pretty much anything into a one-sitting book (including Alexis Daria’s Dance With Me, which I read on a Saturday morning and you should, too). But what really works as a one-sitting book is a novella, and you know who writes amazing novellas? Rebekah Weatherspoon. Try Treasure  or So Sweet. Or if you’re looking for a bit of body-positive kinky goodness, try the Fit trilogy. There are tons of options just by one author alone. A sci-fi novel with a female protagonist by a female author Do you want some ridiculous in your life? Like utterly, unapologetically ridiculous? You need to read Touched By an Alien, the first in Gini Koch’s Kitty Katt series. The series involves the same couple, so is a bit different than your average romance, but the first book has all of the elements of romance with sci-fi taking only a bit of the forefront. I will warn you: this series is not good for binging. Too many at a time can get pretty overwhelming. Spread ‘em out. A comic that isn’t published by one of the Big Three: If you want to keep your tasks separate, check out Fresh Romance Volume 1, published by Oni Press. This anthology of romance stories covers the gamut of love. A book of genre fiction in translation: I was going to go with a light novel for this one, but then I remembered that I’d been ordered to read Ouran High School Host Club (seriously, ordered), and now that I’ve read the first volume, I can concur. It’s more romance adjacent than a true romance, but it’s so much fun and I can’t imagine any romance lover who likes serial art wouldn’t like it. A book with a cover you hate: This is a hard one. Hate is so relative, and goodness knows there are some…interesting covers in romance, in part because when you’re already paying to publish a book on your own, you take what you can get. But this is the real kind of cover I hate: [His Road Home] The leads in this novel are an Asian American woman and a Mexican American man. Both of these ethnicities could be represented in this cover, as each includes a range of complexions. But. There was potential to include complete faces, like this: [Wrong to Need You] But instead we get a weird fall-covered house with an American flag. I don’t even know why that part of the cover exists. There are more hospitals and hotel rooms than front porches. But it’s such a wonderful book that I have to ignore the cover. (I’ll insert here, I say the same thing about Trade Me, which has these two covers:   Guess which one I hate, for similar reasons.) A mystery by a person of color or LGBTQ+ author I have only read Kyra Daviss Just One Night, but  Sex, Murder, and a Double Latte  sounds like tons of fun. The first Sophie Katz Mystery, its got murder and a hot Russian, so Im pretty much there.   An essay anthology I don’t really know what the true definition of “essay anthology” is, so I am going to recommend Sarah Wendells  Beyond Heaving Bosoms. Separated into several different topics with fun and interesting titles, you could consider this book a collection of essays. Do anthologies have to be written by multiple people? I dunno. A book with a female protagonist over the age of 60 Highland Dragon Rebel  by Isabel Cooper. Okay, I know, that’s cheating. But if you want a romance featuring an older heroine, that woman is going to be in her thirties or forties, because romance forgets single women older than that exist. Otherwise, it’s the immortals. And let’s face it, Moiread is a pretty kick-ass immortal, so you want an excuse to read her anyway. Or, if youd like more comics, you can try  Bingo Love by Tee Franklin, Jenn St-Onge et al. Two lovely ladies in their sixties who were torn apart in their youth find each other later in life, only to fall back in love again. The graphic novel is out on Valentines Day! An assigned book I never finished Villette is a proto romance and is heralded as one of those books that stands apart, showing off a better figure than its younger sister, Jane Eyre. But hey, my Bronte/Thackeray class was winding down and my paper was on Vanity Fair, so I, uh…didn’t get very far. *** Do you have any good recommendations for books in these categories? Or maybe some of those I skipped (like colonial or postcolonial literatureâ€"I imagine Beverly Jenkins’s  Midnight is not what Rachel had in mind for “colonial”) that you know something that will work for? Share in the comments! Sign up for Kissing Books to receive  news, book recommendations, and more for residents of Romancelandia. Thank you for signing up! Keep an eye on your inbox.

Symbols in The Great Gatsby by F. Scott Fitzgerald Essay

The Great Gatsby is one of the most read pieces of literature throughout the current modern Western world. High school kids all across the globe must learn and read it as part of their curriculum. One of the aspects that makes this novel so notable is that Fitzgerald, at no point in the story, needs to convey to his audience the theme of his novel directly. The main points of his novel are brought out by the powerful symbols he infuses in the book. Not only does he use them to convey his theme, but also ties them in to the rest of the story. Every aspect of this book is affected by the presence of one of his symbols. Through the use of the green light, the eyes of Doctor T. J. Eckleburg, and the Valley of the Ashes as symbols,†¦show more content†¦Foremost, however, this light greatly influences the characterization of Gatsby. In Chapter 1, when Gatsby reaches for the light, the reader becomes confused and does not know what to make of this strange man oddly extending his arms while no one is around. After understanding Gatsby’s past, though, and knowing what it is he is reaching for, the reader can deduce much about Gatsby’s character from this action. By reaching out for his dream, Gatsby shows his determination to win Daisy back; this solitary motion demonstrates his level of commitment to her. After realizing this, the reader can also begin to associate more of Gatsby’s actions, such as his gain of wealth, with the American dream because it is understood that the quest for Daisy is closely tied in with this theme (21). After this event with Gatsby, Fitzgerald chooses to focus on another peculiar object, Doctor T.J. Eckleburg’s eyes. It is this unusual amount of attention given to such a solitary entity that alerts the reader that a deeper meaning may exist than what the author expresses. Another major symbol in this novel is the eyes of Doctor T. J. Eckleburg. These are a pair of spectacles painted on an old b illboard in the Valley of Ashes. The significant aspect is that this symbol only has meaning when other characters instill it with meaning. The eyes represent a higher power looking over theShow MoreRelatedSymbols And Motifs Of F. Scott Fitzgerald s The Great Gatsby 1213 Words   |  5 PagesPart I: Symbols/ Motifs F. Scott Fitzgerald uses color as a way to describe in more detail. Some of the main colors are green, grey, white, silver and gold.The color green is one of the most prominent and detailed symbols in the book. Gatsby sees the green light at the end of Daisy’s dock as the distance between him and Daisy, along with what he hopes and aspires for in the future. In the literal sense, the color green also represents his craving for money and vanity of the Roaring Twenties in NewRead MoreThe Color Gold Symbols Of The Great Gatsby By F. Scott Fitzgerald711 Words   |  3 Pages Marlayna Mcarthur 2nd, lit Mrs .Watler 12/9/2015 The Color Gold symbolize In The Great Gatsby Colors have many shades, along with various meanings and emotions. When you look at the shade of a color and what it means in books each color has its own meaning and emotional attachment to each character. the color gold has been mention in the book The Great Gatsby. Gold has a connection to everything in this book. It has several different meaning: happiness, richness, extremelyRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of wealth and social standings. Social class is represented through the East Egg, the WestRead More Use of Symbo ls and Symbolism in The Great Gatsby Essay1326 Words   |  6 Pagesliterary merit. In his novel The Great Gatsby, F. Scott Fitzgerald uses symbols to portray events, feelings, personalities and time periods. Throughout the narrative, Fitzgerald uses strong contrasting symbols such as West Egg and East Egg. His superior use of other predominant symbols such as color and light are also evident throughout the novel. The story begins as the narrator, Nick Carraway, describes his arrival to West Egg. One can immediately spot new-money Gatsby and no-money Nick on one sideRead MoreThemes Of The American Dream In The Great Gatsby1503 Words   |  7 Pagesdream is the ideal that every human that lives in the United States of America has an equal opportunity to fulfill success and achieve happiness. The failure of the American dream is an evident theme in the novel. The author, F. Scott Fitzgerald, uses the character Jay Gatsby to symbolize the corruption that the pursuit of the American Dream holds. The American Dream highlights equality and is the quintessential idea that all humans are equal. However, this idea is perceived as an illusion. Due toRead MoreIllusion and Reality in The Great Gatsby Essay1548 Words   |  7 Pagesand Reality in The Great Gatsby  Ã‚  Ã‚     Ã‚   The Great Gatsby, by F. Scott Fitzgerald, is a novel about one mans disenchantment with the American dream. In the story we get a glimpse into the life of Jay Gatsby, a man who aspired to achieve a position among the American rich to win the heart of his true love, Daisy Fay. Gatsbys downfall was in the fact that he was unable to determine that concealed boundary between reality and illusion in his life.      The Great Gatsby is a tightly structuredRead MoreThe Great Gatsby By F. Scott Fitzgerald1002 Words   |  5 PagesHonors American Literature 11 17 May 2016 The Great Gatsby: Analytical Essay The Great Gatsby by F. Scott Fitzgerald, is a powerful story about the history of the roaring 1920’s. Fitzgerald uses different intellectual techniques of writing to captivate a completely new meaning to the prohibition era. The Great Gatsby, narrated by Nick Carraway, tells a moving story from his point of view about the lives of the upper and lower class of the 1920’s. Fitzgerald creates a compelling plot through differentRead MoreF.Scott Fitzgeralds The Great Gatsby Essay967 Words   |  4 Pagesanyone looking to be anyone in East New York’s high society in the Roaring 20s. F. Scott Fitzgerald captured all three with his literary voice. He made impressions everywhere with the supreme achievement of his third novel, The Great Gatsby. This novel is a tale of people’s exciting lives in the 1920’s. Fitzgerald uses the Great Gatsby to illustrate the American identity during the early twentieth century. Fitzgerald uses symbolism and narrative techniq ues to illustrate the materialistic chase ofRead MoreThe Great Gatsby by F. Scott Fitzgerald706 Words   |  3 Pagessymbolism played such a crucial part in the very foundation of a novel as it does in Scott Fitzgeralds masterpiece, The Great Gatsby. Harold Bloom has written about this book. The author used several types of symbolism in The Great Gatsby. The colours are probably the easiest to be recognized and guessed what they symbolized. According to the definition â€Å"symbolism† is the practice of representing things by means of symbols or of attributing symbolic meanings or significance to objects, events, or relationshipsRead MoreThe Valley Of Ashes In The Great Gatsby Analysis1569 Words   |  7 Pages In the novel, The Great Gatsby by F. Scott Fitzgerald,the author uses The Valley of Ashes as a symbol of the tragedy of the middle class, death, and hell in order to show that the poor citizens of America live a tragic life. The reader is first introduced to the dirty, impoverished Valley of Ashes when Tom Buchanan brings the narrator Nick Carraway to meet his mistress, and is later used as a setting of tragedy. Nick first arrives in the Valley of Ashes when Tom forces him to meet Myrtle, his mistress

Physical Appearance Says What Words Cannot Comparing...

Throughout their lives, both Malcolm X and Gandhi had similar and contrasting physical traits. In many ways, how they appeared on the outside shaped the people they were on the inside. Clothing became a device of nonverbal communication. Whether they recognized that themselves or not, that’s how it was. Had they not been colored, they would not have had advocated for justice. Though their personal philosophies drove them in different ways to resolve oppression; one with violence and the other with peace they were motivated just as much. Nonverbal communication helped both men gain support to raise awareness and achieve justice they sought for their ethnic and religious groups. In Gandhi’s movement to free India, he chose to boycott†¦show more content†¦While Malcolm X continued to change his style depending on his location, as he felt the need to do so. When he moved to Harlem, New York, â€Å"No Negro place of business had ever impressed me so much†¦I was hit†¦by their conservative clothes† (Malcolm X 75). He then quickly dropped his zuit suits in favor of this style of dressing found on his fellow black people. Throughout his later life, Gandhi promoted his ideas peacefully. This then translated into his clothing as well. In Gandhi , Gandhi wore loosely draped fabric in off-white. In doing so, he is portrayed as an angelic, saint like person; indicative of his gentile disposition. In 1946, LIFE photographer Margaret Bourke-White photographed Gandhi sitting on the floor at his wheel â€Å"the now-famous image came to symbolize the notion of Indian self-sufficiency — and thus independence from British rule.à ¢â‚¬  (LIFE). In one of these photos, Gandhi is back-lit and the glare from the sun contributes to his angelic appearance. While living in Boston, Malcolm wears bright colored zuit suits. This acts as a preamble for his adult life. His suits are saturated in color and extremely intense the way some of his actions became in Harlem, where he starts his drug use and gets into legal trouble for various activities. In many photographs of Malcolm X, he wears browline glasses. This style resembles eyebrows in the way they naturally frames the eyes; hence the name ‘browline’. As the black frame only goes around theShow MoreRelatedManagement Course: Mba−10 General Management215330 Words   |  862 Pageseconomic, social, and political churning, how will these driving factors be influenced by the brutally competitive global economy in which organizations do not have any particular geographic identity or travel under any particular national passport? What will be the effect of the rapid gyrations in markets that emphasize the difficulties that accounting practices face in determining true performance costs and that forecasting programs confront in establishing the economic determinants of corporateRead MoreDeveloping Management Skills404131 Words   |  1617 Pagessolution for courses in Principles of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for class. Chapter-by-chapter activities, including built-in pretests and posttests, focus on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY Kim S. Cameron UNIVERSITY OF MICHIGAN PrenticeRead MoreMarketing Management130471 Words   |  522 PagesConsequently, marketing occurs any time on societal limit strive to exchange something of value with another social unit. Marketing consists of all the activities to facilitate the exchange. Within this societal perspective, then (1) the makers (2) what they are marketing and (3) their potential markets all assume broad dimensions. The category of marketers might include, in addition to business firms, such diverse social units as (a) a political party trying to market its candidate to the publicRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesthe Contributors †¢ 343 _ IN TR OD UC TIO N Michael Adas B y any of the customary measures we deploy to demarcate historical epochs, the twentieth century does not appear to be a very coherent unit. The beginnings and ends of what we choose to call centuries are almost invariably years of little significance. But there is little agreement over when the twentieth century c.e. arrived, and there were several points both before the year 2000 (the collapse of the Soviet Union

Beauty Practices Around the World Free Essays

Real beauty lies within but first impressions always last. Usually, we are more interested and fascinated on things that appeal to our sense of sight. That’s why being beautiful in the outside matters. We will write a custom essay sample on Beauty Practices Around the World or any similar topic only for you Order Now Tall, petite, brunette, blonde, fair, tanned, slim or curvy, we vary in beauty as we differ in culture and race. There is really no exact definition of what beautiful is for beauty indeed lies in the eye of the beholder. According to Meera Jain (www. skincare-news. com), â€Å"beauty is not one’s own but a reflection of one’s culture. The cultural implications of beauty are prominent in every culture and have a strong influence on the way women are perceived. Across the world, different cultural perceptions uphold an ideal of beauty that is linked to sexual appeal and social status. Making one’s self beautiful is an inborn trait. In general, the appeal of beauty is to attract a sexual partner or attain a higher social status. The process of beautification varies in each culture but mostly it is done to be considered attractive. Beauty is a means of self- expression and a reflection of our inner spirit. The quest for beauty has changed over the years but the purpose remains to show off material wealth, social position, authority, and flaunt sexual appeal. The desire to be admired by others drives most women to perform tasks to beautify themselves and change their form. In all cultures, clothing and jewelry styles are used to be more attractive. The Western culture applauds women who are tan, tall, and slender, have large breasts, small waists, and delicate features. On the other hand, the Eastern ideal is voluptuous, curvaceous, big eyes and strong noses. Meanwhile, Asians refer to long limbs and vital statistics as minor contributors to the beautiful body, what is more important is the state of mind. For the Asian religions, the treatment of beauty as a respectful and dignified attribute is emphasized in religious texts especially in Hinduism, Islam, Buddhism, and Sikhism. For instance, religious idols and texts displayed in Western religions have not been nude and the idols are fully clothed while in Eastern religion idols are considered beautiful especially when depicted in the nude. Both cultures can admire the beauty of what is found in their houses of worship and use this to define their cultural ideal of beauty. Our views may vary on the essence of being beautiful but we all agree that for one to be beautiful in the outside, she should start by feeling beautiful in the inside. Women spend more time on pampering themselves and spend hours in front of the mirror to get the results they wanted. They also spend much on beauty products like makeup, lotion or moisturizers, spa and body treatments compared to men. Nonetheless, nothing can compare with the joy beauty brings to a person. Being branded as beautiful can boost one’s personality and self- confidence. The world has a lot to offer with the advent of technology and intensive researches in the field of beauty, being beautiful in the today’s generation is more affordable and practical. II. Caring for the Skin The skin is a very sensitive organ, which is the most exposed part of our body. Everyday, it is exposed to the scorching heat of the sun, dust particles, and air pollutants. We are constantly battling with the risk of getting pimples, blackheads, acne, and clogged pores to name a few. Great skin begins from within. Scandinavian women drink at least 1. 5 liters of spring water everyday but they also begin and end their day with 15-20 splashes of spring water on their face to help encourage the skin’s own natural functions. Different skincare products were launched to suit the type of skin we have. For example, in America, limejuice is used for bleaching. Other alternatives are bananas and milk, and egg white and honey combinations. On the other hand, most Asians resort to using whitening creams and soaps with papaya extract to achieve their desired skin color. In Europe, 75% of women regularly use skin care product every week. As a matter of fact their facial skin care markets up to $6 billion for 2000. It only proves that women give importance especially to their facial skin. Meanwhile, the use of sunscreen is also vital in maintaining flawless facial skin. Hispanics, African-Americans, and Asians in general apply sunscreen to help fight against dark spots and skin cancer. Italian models care for their hands as carefully as their face by mixing hydroquinone cream and olive oil to soften skin and erase hand freckles. On the other hand, Parisian models keep their skin glowing with salt rubs. They do this by taking approximately one cup of sea salt and mix it with a half- cup of peppermint tea to form a paste. Then they use this mixture by rubbing it in the shower of before bathing. Many women fear looking old thus anti-aging products were also created to keep us looking young and vibrant with life. In the United States Jolene Edgar of Redbook said that in order to restore radiance, an acid peel at the spa is recommended. It only takes twenty minutes for the mild mix of glycolic and salicylic acids to dissolve skin cells and impart a fresh- faced glow. Antioxidants also help skin aging by fighting skin aging radicals. In Japan, green tea is the beverage of choice to speed calorie- burning metabolism and to keep the face line free. Skin gets thin as one gets older due to a low collagen and elastic tissue which are responsible in keeping the skin firm and supple. This is the inevitable thinning of our skin and accounts for only 10% of the aging process. The sun’s penetrating rays have a direct effect on skin, thus injuring the cells and their contents. The skin shrivels and wrinkles as it lose moisture. If one likes to tan, expect a 20% reduction in collagen levels in a lifetime. Too much sun accounts for 90% of aging. Because of this, the use of sunscreen is highly recommended to act as a shield for the sensitive skin of the facial area and preventing the growth of dry dead skin. For example, Mediterranean women use olive oil to soothe and soften dry, irritated skin and also in treating sunburn. III. Makeup and Cosmetics Every woman wants to look for a best and it all starts with makeup. According to celebrity makeup artist Shalini Vadhera, choices in makeup for women of color are better today than they were a few years ago since companies have expanded their hands to include women of different cultures and formulated products to work on different skin tones. Women with Asian skin tone are advised to apply yellow- based products like the foundation to reveal a natural, flawless look. For paler Asian skin, mixing one’s regular base color with yellow-based foundation can do the trick. Asian women also look really nice in smoky color eye shadows like purple, lavender, pink, gray, and charcoal. For Asian eyes to stand out, highlighter is applied under the brow. The most important factor in deciding what color and how to apply eye shadow is to take into consideration the amount of fold you have above the eyelid. If you posses a fair amount of fold, then you can boldly apply dramatic colors such as black, deep turquoise and navy blue for night time wear and utilize the technique of multi-layering colors. Colors that are especially flattering for daytime wears are bronze and light colors applied close to the lashes while more intense colors are blended on top. However, www. ultimate-cosmetics. com mentioned that women with dark skin should stick to warm, earthy colors like gold, bronze and maroon while mauve, pink and silver on fairer skins. Lipsticks with medium dull shades and matte finish are also advised for lack-skinned women. Peachest blushers work best too while reddish tints should be avoided. In American and European countries, when the focus is on the eyes, lips look best nude. They do this by choosing a shade similar to their lip color and smooth a little gold lipstick or shimmer on top. The golden shade adds shimmer and makes lips appear fuller. Whether they wear foundation or not, they can play up their eyes with eye shadow, eyeliner and mascara top create a futuristic look. Whatever makeup one wears, correct application and choice of color must be put into consideration to attain best results. IV. Hair Care The hair is a reflection of one’s health and personality. They are important contribution to your total look and given the right care they can make you look beautiful. However, if neglected it can be distractive to your appearance. Hair is an integral part of the structure of your skin and like your skin, it changes with passage of time (www. womenfitness. net/beauty/hair/hairstruc. htm ). The hair and scalp needs proper care now and always. Negligence over a period of time may result to the formation of dry brittle hair, split-ends, hair fall, dandruff and many more. There are three types of hair namely oily hair, dry hair and combination hair, which commonly include hair with oily roots and dry ends. In addition, there are many ways to take care of hair according to type. Oil hair have separate strands and stick to your head. To keep it healthy, use mild shampoo, as often as necessary even if that means everyday. Use only very little shampoo and put a conditioner on the ends unless the hair is very oily. Then don’t use too hot a hairdryer and don’t also brush or comb more than necessary. On the other hand, dry hair tangles and brittle easily. To protect hair from being dry, shampoo your hair every 4-6 days using a mild shampoo. After which, use a cream conditioner combing it thoroughly through the hair and leaving it on for a few minutes before using. Meanwhile, the same guidelines apply to combination hair type. Hair, like beautiful wood, can be shaped, mounded, colored and, if properly taken care of, can be made to shine with health. (www. pg. com/science/haircare/hair__twh__2. htm ). Indian women are known for their thick, long, lush hair. They do a hot oil scalp massage once a week using coconut oil. Meanwhile, Spanish women use cranberry juice as their final rinse on their hair to give them fabulous natural highlights. For blonde, they use lemon juice instead of cranberry. Shampooing is a matter of cleanliness and hygiene, but also a matter of feeling style, and convenience (www. ourstorygueson. com/lhc/shampooing. htm). The more hair is washed, the more friction is applied and thus wear and tear. Be gentle to your hair if you want to cultivate it and be with you for many years. Brushes are more appropriate and convenient to use for short hair. They put a lot of control into short hair. It is difficult to use brushes with thicker and longer hair because it is difficult to get the brush through the hair and it also tends to catch the hair, possibly twisting, pulling, stretching, and even breaker than hair. However, combs are greatly preferred to brushes for longer hair. Usually, combs with wide teeth are preferred to those with narrower teeth. Combs are used to detangle hair, to aid in drying, to spread with oils along the shaft, and to arrange the hair after it is dry. Also, the larger the teeth and the wider apart the teeth are, the more gentle the comb is in the hair. Furthermore hair can become stronger and shinier if coupled with a balanced diet. A well- balanced diet, rich in silica, calcium, and iron, will help reduce or prevent hair loss while green leafy vegetables are good mineral sources. The hair is comprised mostly of protein, therefore to encourage hair growth, adhere to a diet rich in protein (www. womenfitness. net/hair-care-tips. htm) Choosing the right hairstyle can be the most important factor in one’s appearance. It balances your body, frames your face, and complements your clothes and lifestyle. When choosing a new hairstyle you should look carefully at the shape of your face. For example, if you have a round face you should aim to add length by avoiding a neat bob with a fringe. On the other hand, a heart shaped face should avoid a heavy slab of fringe that will make it look like a triangle. Meanwhile a short perky bob will go very nicely for oblong faces. Spa and Body Treatment Most people experience less leisure and more daily stress as they juggle work and career, family and friends. Nowadays, people no longer have to go on a cruise or hit the best beach to get the relaxation they deserve. Now, the key to a relaxing experience is just a phone call or a ride away, all because of the birth of spas. Asian spa focuses on harmony between the mind, body, and spirit through traditional massage, meditation, and herbal medicine. Ancient herbal remedies, steam compresses, natural ingredients, and simple principles based on a combination of Indian Ayurvedic and Chinese dominate Asian Spa. Many of the herbal treatments used in the spas are coupled with European remedies to soften the skin and nourish the soul. In Switzerland, spas are classified according to their degrees of stimulation. For example spas located in areas with an altitude of 1550- 3410 feet have soothing effects on the nervous system while those situated in 3720- 5890 feet simulates the nervous system and production of blood. Meanwhile in Monte Carlo, Monaco, spa centers provide manual therapy such as fascia therapy, shiatsu or reflexology, physiotherapy, kinesitherapy and sophrology. Furthermore, Ireland provides both luxury and serenity in their spas like the Elysium Spa, which includes an ozone deck level pool, Jacuzzi and steam room, needle shower, and a fitness room for Pilates, exercise and dance classes. On the other hand, most spas are open- air in Tahiti. These are located in garden areas facing the lagoons. Soothing lagoon waters, vanilla and flower scented breezes and the scenic beauty of Tahiti add to the appeal of the spas. In Mexico, spa services include hydrotherapy, body scrubs, all types of facials and massages, aromatherapy and herbal baths, lymphatic and ocean front massages are some of the services offered. They also offer reflexology, Zen shiatsu, Anma Shiatsu, Reiki, stretching therapy, chiropractic and Iris diagnosis and full hair care. Massage is considered as an essential element in maintaining good health and restores the well being of both mind and body. All forms of massage follow the principle of restoring natural balance by ensuring the easy flow of â€Å"Chi† the energy of life force of the body. Massage from Bali or India use aromatic oils to stimulate the sensory system. Moreover, the pressure applied along the body’s meridians and yoga postures can also enhance one’s well – being. Besides massage, spas also offer body baths. In Indonesia, the Mandi Susu or milk bath makes skin soft and pure to the touch. Modern formulations of this ritual, which is from goat, sheep or cow’s milk, have eliminated the taste and smell of milk while maintaining its nutrients with protein that softens skin. An alternative for this ritual that can be done at home is by pouring fresh or powdered milk in with the buttermilk are also good alternatives. Another body treatment is the Ocean bath, which focuses on the healing properties of unrefined sea salt, which is effective in removing toxins from the body. Sea salt nutrients are also easier to absorb by the body. Aromatherapy oils are also effective in relieving stress. A drop or combination of essential oils into warm water are absorbed into skin while the rest evaporate and inhaled which soothe muscles and mind. Oils like chamomile, lavender and rose can calm the body while ginger, sage, rosemary detoxifies it. Furthermore, ylang-ylang, geranium, and sandalwood can ignite passion while grapefruit, lemon, mandarin, peppermint, and pine have brain boosting ingredients. The body is not the only one that needs to be pampered but the face also deserves some special treatments from time to time. According to Anitra Brown the most popular treatment is a salt glow or sea salt facial scrub done with coffee grounds, finely ground pecan shells or the Napa Valley grape seeds. V. Cosmetic Surgery Don’t we all want to look like the models that we see on television or magazines? Many people want to look better that some resort to surgery to make them look prettier and sexier. Some people want to get rid of fats immediately and without the rigor of strict dieting and regular exercise. Liposuction is a special surgery that sucks fats from the body. Liposuction is one of the most wanted surgeries in the world wherein people get a leaner body shape by losing inches rather than pounds. It is done by a doctor who makes small cuts in your skin and then puts tubes into the cuts. These tubes connect to a machine that sucks out fat from under your skin. Liposuction is an artistic expression that practices practical application of scientific knowledge in pursuit in beauty and making people feel happier and contented with what they see in the mirror. In Thailand, doctors utilize the revolutionary Tumescent Liposuction since it does not require general anesthesia and has a faster recovery time with the same results. In Tumescent Liposuction; areas with excess fat are injected with a large amount of anesthetic liquid before liposuction is performed. This liquid enlarges the compartments of fat, which makes the liposuction canella to travel smoothly beneath the skin while the fat is being removed. It also provides pain relief after the procedure. The common areas covered by liposuction include the neck, stomach, back, face, lore handles, hips breasts, calves, thighs, upper arms, buttocks, and knees. However, liposuction does not promise a well- sculpted body shape forever. The fats removed will still come back if one eats more exercise less than necessary. Moreover, it is not suitable for people who are too heavy or trying to lose weight. Liposuction is also prohibited to those who have a disease that would affect healing or those under medication that would affect the healing process. Furthermore, liposuction costs much and most health plans do not cover this kind of surgery. Another pitfall of liposuction is asymmetry and rippling or bagginess of skin. Also, skin injury occurs and pigmentation changes. Many women also undergo breast augmentation which enhances the size of breasts using inflatable implants filled with saline. Surgery takes one hour to two hours only. Patients may experience temporary soreness, swelling, change in nipple sensation, and bruising. Moreover, the breast becomes sensitive to stimulation for a few weeks. Breast augmentation may also result to the formation of scar tissues in the breast and it may also decrease or increase the sensitivity of the breast area permanently. The breast lift is another procedure which can improve the shape of women’s breasts. The surgery helps raise and reshape sagging breasts by removing excess skin and repositioning remaining tissue and nipples. Temporary bruising, swelling, discomfort, numbness, dry breast skin and permanent scars are just some of the side effects of this form of surgery. Another high risk is the loss of feeling of nipples and breast including having uneven location of nipples. Another method of making skin look younger is the chemical peel which restores wrinkled, blemished, unevenly pigmented, or sun-damaged facial skin, using a chemical solution to peel away skin’s top layers. It works best on fair, thin skin with superficial wrinkles. Presence of temporary tiny whiteheads ; infection; scarring; flare-up of skin allergies, fever blisters, cold sores, abnormal color changes and a rare chance of heart irregularities are just some of the risks one has to take in undergoing this treatment. Dermabrasion is another method involving the skin. It is the mechanical scraping of the top layers of skin using a high-speed rotary wheel. This surgery softens sharp edges of surface irregularities, including acne and other scars and fine wrinkles, especially around the mouth. One may experience temporary tingling, burning, itching, swelling, and redness in this form of surgery. The facelift is another favorite of old women since it improves sagging facial skin, jowls, and loose neck skin by removing excess fat, tightening muscles, and redraping skin. This is most often done on men and women over 40. Temporary bruising, swelling, numbness and tenderness of skin; a tight feeling and occurrence of dry skin are some side effects of this surgery. While for men, permanent need to shave behind ears, where beard-growing skin is repositioned. Facial implants can also renew the structure of one’s face by changing the basic shape and balance of the face using carefully shaped implants to build up a receding chin, add prominence to cheekbones, or reshape the jawline. After surgery, shifting or imprecise positioning of implant, or infection around it, may require a second operation or removal. Excess tightening and hardening of scar tissue around an artificial implant (â€Å"capsular contracture†), can cause unnatural shape. The face is not the only issue addressed by plastic surgery but other body parts as well like the ears. Ear surgery or otoplasty sets prominent ears back closer to the head, or reduce the size of large ears. This is most often done on children between the ages of four and fourteen years. Temporary throbbing, aching, swelling, redness, and numbness accompany otoplasty. Furthermore, excessive scarring may occur and cartilage may be infected during the process. It can also result to mismatched or artificial looking ears. In these cases, repeat of surgery is required. Another twist is the browlift or forehead lift wherein forehead creases, drooping eyebrows, hooding over eyes, furrowed forehead and frown lines are minimized by removing excess tissue, altering muscles and tightening the forehead skin. It may be done using the traditional technique, with an incision across the top of the head just behind the hairline; or with the use of an endoscope, which requires three to five short incisions, which is most often done on people over forty. This can cause itching and hair loss. Furthermore, the method can injure the facial nerve which will cause loss of motion and muscle weakness. Nowadays the hair can already undergo surgery through the hair replacement surgery. The surgery fills in balding areas with a patient’s own hair using a variety of techniques including scalp reduction, tissue expansion, strip grafts, scalp flaps, or clusters of punch grafts. This works best on men with male pattern baldness after hair loss has stopped. A patient may experience a temporary ache and a tight scalp after surgery including an unnatural look of the hair. We also have the nose surgery which reshapes the nose by reducing or increasing size, removing hump, changing shape of tip or bridge, narrowing span of nostrils, or changing angle between nose and upper lip. It is also done to relieve some breathing problems. Infection and small burst blood vessels resulting in tiny, permanent red spots are some of its side effects. Incomplete improvement however, may require additional surgery. People have a lot of alternatives when it comes to plastic surgery. Due to the advent of science and technology, being and looking beautiful is made easy so long as you have the money and the confidence to face its consequences. VI. Conclusion Being beautiful takes a lot of time, effort, and money. The different beauty practices around the world cater to our needs to become the best of what we can be and to make us contented and happy of our physical attributes. We need to be aware and updated of the latest techniques and practices in keeping or maintaining our beauty. The world has a lot to offer especially with the help of science and technology in providing us with our needs. However, we should not only focus on materials or practices that can make us beautiful in the outside but also in the inside. To be considered beautiful, we have to balance both so our real beauty may shine. BIBLIOGRAPHY Wild, Russel (June 1998) 8 Easy Ways to Beat Fatigue, Reader’s Digest, pp. 31-33. Parachin, Victor (May- June 2002) The Daily Grind: Ways to Ease Up on Life’s Pressures, Health and Home Magazine, pp. 30- 31. Evangelista, Ianne (November 2006) Style Checklist, Cosmopolitan, p. 80. White, Kate (August 2002) The Best Beauty Buys for Summer Travel, Cosmopolitan, p. 98. White, Kate (August 2002) Max Out Your Summer Sexiness, Cosmopolitan pp. 216- 219. Adolphe, Nicole (July 1999) BeautySpot, Dolly, p. 46. Kramer, Cheryl (September 2003) Keep Your Skin Sun- Kissed, Redbook, pp. 69-70. Edgar, Jolene (September 2003) Makeup Made Easy, Redbook, pp. 77-85. www. thaimakeover. com/ccosmetic-plastic-surgery-bangkok-thailand www. nlm. nih. gov/medlineplus/news/fullstory_45553. html www. 99bali. com/spa/thestory/asian_health/index. html www. beautybathbodyspa. com www. mamashealth. com/skincare/exfoliate. asp www. jurgita. com/articles-id31. html www. natureproducts. net/Cosmetics/acne_3html www. real-articles. com www. laser-hair-removal-tips. com www. phuket-spas. cpm/treatments/index. htm www. highbeam. com/doc www. massagemag. com/spa/treatment www. glamourhunt. com www. ultimate-cosmetics. com www. womenfitness. net/beauty/hair/hairstruc. htm www. pg. com/science/haircare/hair__twh__2. htm www. ourstorygueson. com/lhc/shampooing/shampooing. htm www. ourstorygueson. com/lhc/shampooing/shampooing. htm How to cite Beauty Practices Around the World, Papers

Conceptual Framework Of Accounting Samples †MyAssignmenthelp.com

Question: Discuss about the Conceptual Framework Of Accounting. Answer: Introduction The main purpose of the essay is to provide an insight into the changes brought in theaccounting filed with the introduction of conceptual accounting framework. In this context, the essay discusses the benefits obtained by the adoption ofconceptual accounting framework to the business entities for financial reporting. The conceptual framework of accounting can cause large scale changes in the activities of the business entities and can also exert control over the public sector organizations from staves off to controlaccounting standard settings. Theaccounting framework is developed primarily to protect the interest of primary users such as investors and creditors by providing them reliable financial information. However, the introduction of new accounting standards such as AASB 1020 with the development of conceptual framework for financial reporting is not widely accepted by business entities across the country. The statement of accounting concepts no. 4 (SAC 4) has provided the def inition and recognition of financial statements elements. However, the adoption of SAC 4 would require businesses to report greater amount of liabilities and thus its adopted with the conceptual framework of accounting is not yet accepted by businesses (Horngren, 2012). In this context, this essay is directed to the Chairpersons of the Financial Reporting Council and the Australian Accounting Standards Board (AASB) for illustrating whether the attempts to bring changes by conceptual framework adoption in financial accounting have proved to be successful or not. Conceptual Accounting Framework Analysis The conceptual accounting framework is developed by the IASB (International Accounting Standards Board) in order to improve the quality of financial reporting. The accounting framework is intended to protect the interest of primary users of financial reports that enhancing transparency in business operations. The accounting professionals integrate the use of arguments cited by the accounting theories for financial reporting. The two main theories used in this context are positive and normative theory of accounting. The positive theory of accounting has argued that accounting managers tend to select the accounting procedures that maximizes the firm value by providing increasing retunes to shareholders (Godfrey and Jayne, 2010). On the other hand, the normative theory of accounting seeks to define the objective of accounting that is to define the optimal accounting approaches to be used for financial reporting (Hussey and Ong, 2017). It provides assistance to the accounting professiona ls regarding the best accounting method to be selected as per the given conditions that should help in meeting the interests of users as well as of the firm. The conceptual accounting framework is developed on the basis of normative theory of accounting that helps in identifying the financial reporting objective. The qualitative characteristics of conceptual accounting framework are developed on the basis of the normative theory accounting principles and guidance. The qualitative characteristics are relevancy, reliability, comparability and understandability that help in ensuring that financial reports effectively meet the requirements of end-users. The international accounting standards board aims at bringing various changes in the financial reporting such as information disclosed in regarding to economic resources and claims of a business entity.It has legitimized the current accounting practice through implementing standard accounting policies and procedure for financial reporting (Kabalski, 2009). SAC 4 is the guideline statements issued to establish set of rules to present the information in the financial statements. The SAC 4 provides the definitions of the various elements of the financial statements and also provides the recognition criteria of each of them that are consistent with the defined objectives of the general purpose financial reporting that are provided in the SAC 2. The definitions and recognition criteria defined in the SAC 4 are also in consistent with the qualitative characteristics of the financial statements that is defined under SAC 3 (Hoffman, 2016). The guidelines provided by the SAC 4 does not address all the measurement or display criteria of the various elements in the financial statements and other concepts of cost and capital. There are various underlined statements in SAC 4 that requires firms to report greater number of liabilities that creates official burden on them and also reduced the value of firm (Australian Accounting Standards Board, 2001 ). As per SAC 4, liabilities are defined as future scarifies of the economic resources in order to pay the obliged amount to the other entities that arises due to past transactions and events. As per SAC 4 there are some clear guidelines that provide the essential characteristics of the liabilities. As per SAC 4, a clear indication of liability under law set to provide the desired amount under the balance sheet by the entities so that it can be paid as and when it requires to be paid. The definition defined in the SAC 4 for liability itself provides the essential criteria of the liability but it does not provide the criteria which should be met in order to show them in the financial statements (Gaffikin, Dagwell and Wines, 2003). One of the main characteristics of the liability is that there is must be present obligation need to settled at the specified date. In the conceptual framework it is also defined about liability that there must be present obligation for the entity but there present obligation must be at balance sheet date i.e. no liabilities are to be recognised that creates the obligation after the balance sheet date (Crowther and Lancaster, 2008). In case of SAC 4 guidelines all such liabilities have to record in the balance sheet. Therefore, this characteristic increased the liabilities to be recorded in the balance sheet before they come in actual consideration Australian Accounting Standards Board, 2001). Second characteristic as per SAC 4 is that there is no need identify the party to whom the liabilities is due by the entity in order to show the present obligation of the liabilities. On the other hand in conceptual framework, does not provide this characteristic but it provides that for the liability to be qualified as the present obligation there is need a party to settle the liability as without a obligator there cannot be a true settlement of liabilities Australian Accounting Standards Board, 2001). So it can be said that this difference in characteristics of the liability has created the difference of liabilities to be recognised by the SAC 4 and as required by the conceptual framework. As per SAC 4, most of the liabilities have legal enforceable right present in law for which entity can be sued and be sued for the disregard to the obligation pursue by the entity. In case of conceptual framework such characteristics has been defined but there is small difference that legal enforceable right must be such that it creates the liabilities on the assets of the entity and not other stakeholders of the entity (FASB, 2008). The liability is an obligation that can arise due to contractual obligation and can arise through social obligation that need to be settle by the company in favor of the society that it serves. There is no proper measurement basis defined for recognised the social obligations for the entity (FASB, 2008). So it create the undue burden on the entities to show this liability as the contingent liability in the balance sheet that need to be settled at some future point of time. In case of conceptual framework there is obligation to show the liabilities that arises due to an act done by the entity and needs to settle for some social obligation but there are methods to be sued to recognize such obligation and make proper provisions Australian Accounting Standards Board, 2001). The definition of the liability defined by the SAC 4 focuses too much on the future outflow of economic resources rather than classifying the items that are in existence and creates the present obligation. So it can be said that definition of liability as defined by the SAC 4 are in board sense as compare to definition provided b the conceptual framework. SAC 4 places the undue emphasis for selecting the past transactions or events that creates the liability. On the other hand conceptual framework provides that entity must have economic obligation at the balance sheet date instead of any time after balance sheet date (FASB, 2008). Thus, as such it can be said that conceptual accounting framework has not proved too successful in bringing major changes in the financial reporting. Therefore, it is required that the framework should aim to legitimize current accounting practices and also emphasizes on meeting the social and economic status of the business entities. The legitimization is achieved through meeting the following objectives of conceptual accounting framework as follows: Defining the financial reporting objectives Defining the qualitative features of financial information Definition, recognizing and measuring the financial statements elements Defining the concepts of capital maintenance The business entities need to develop and disclose the financial information about their accounting transactions through adopting the accounting principles provided by the conceptual accounting framework. The legitimization of current accounting practices by the development of conceptual accounting framework also drives the preparation of international accounting standards. The social, economic and political factors also play a major role in influencing the development of standard accounting policies and practices (Conceptual framework for financial reporting, 2017.). The conceptual accounting framework helps the business entities to meet their social and economic challenges as well. This is because the qualitative characteristics of conceptual framework require business to provide complete and all necessary information relating toe the business operations. Thus, as such business entities are required to disclose their financial as well as non-financial performance through the adopti on of conceptual framework. The conceptual framework should also aim to provide relevant and reliable information regarding the social and economic performance of an entity. This is necessary to protect the needs of secondary user of financial reports such as consumers and overall communities besides investors. Therefore, the conceptual accounting framework can bring major changes in disclosure pattern of business through meeting the requirements of overall users of a business entity besides only directed to primary users. In addition to this, the conceptual accounting framework should also aim to staves off public sector attempts for controlling accounting standard setting. The International Public Sector Accounting Standards Board (IPSASAB) is developed with the main aim of developing international accounting standards to be followed for financial reporting. The IPSASAB mainly aims to establish high standards of reporting for public sector entities. This is because public sector accounts for a larger proportion of government expenditure and is undergoing rapid changes with the growth in the public services demand. The ACCA ins this context has undertaken the responsibility of developing accounting standards for financial reporting of public sector companies in order to ensure their higher quality financial reporting. This would helps in improving the financial management of public sector firms thus leading to their increased performance and profitability. The IPSAS standard would deal with the specif ic public sector issues for which there does not exists any IFRS standards. As such, it can be said that public sector companies would be supervised and controlled by the development of public sector boards and not by IASB. As such, the development of conceptual accounting framework would assist the IASB in gaining control over the public sector companies as well (Setting high professional standards for public services around the world, 2017). The conceptual accounting framework qualitative characteristics would assist the public sector companies as well to disclose complete and relevant information about the financial performance. The conceptual accounting framework adoption would help the public sector companies to be accountable to the public. The public sector companies need to promote stewardship in their business operations through serving the interests of society, environment, employees and other stakeholders (Johnson and Duberley, 2000). The conceptual accounting framework also promotes accountability in business operations and therefore its adoption in public sector companies would help them to meet the needs of its different stakeholders by maintaining transparency in the business operations. Therefore, it can be said that the development of conceptual accounting framework staves off public sector attempts to control accounting standard setting. Conclusion Thus, it can be said from the overall discussion held in the essay that conceptual accounting framework should aim to legitimize current practice, helps in disclosing the social and economic performances and staves off the control of public sector boards on accounting processes for bring major changes in the business entities disclosures. The current conceptual accounting framework has not caused large changes in the information disclosure pattern of business entities. This is due to its limited use as the new accounting standards such as SAC 4 are causing large problems in front of business entities. References Australian Accounting Standards Board. 2001. Definition and Recognition of the Elements of Financial Statements. [Online]. Available at: https://www.aasb.gov.au/admin/file/content102/c3/SAC4_3-95.pdf [Accessed on: 13 October 2017]. Conceptual framework for financial reporting. 2017. [Online]. 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