Origin of Hip Hop and Punk Rock free essay sample

Both were able to redefine the social norms and include more of a cultural aspect to the music environment. Though punk rock and hip-hop are very different genres, they have similarities in the way the genre effected society and the culture around the music. Punk Rock has gained so much respect and a strong following because Of the bravery and confidence the bands show by their music. Rather than following social norms and disregarding their feelings, they follow their heart and express exactly how they feel.That alone gained so much popularity in the world for punk rock. Their ability to speak the truth and true feelings allows the fans to come together and share common ground with other fans ND the bands themselves. There are certainly differences that are easily noticeable between the two genres, punk rock and hip-hop. For example the way of singing and portraying the message is very unique for each genre. We will write a custom essay sample on Origin of Hip Hop and Punk Rock or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Punk rock utilizes multiple instruments such as the guitar, drums, and vocals to sing and express a message through lyrics.While hip-hop on the other hand, does not use the instruments rather just the use of vocals. The singing of hip-hop is different than that of punk rock. Hip-hop is much more mellow and more of a talking type than a loud singing. For example, The Calashs song Should Stay r Should I Go, uses all the characteristics of the instruments and a message through the lyrics. Very unique for the time period, it appealed to many people especially in the teenage age group. The song explains: Darling you got to let me know Should I stay or should I go?If you say that you are mine Ill be here till the end of time So you got to let me know The lyrics explain feelings towards a female and questioning whether it is better to stay with her or if it is better to leave. These messages are not deliberately stated but are inferred, and people may develop a different meaning from the same lyrics Of a song. On the contrary to punk rock, and example of hip-hop would be Amines Lose Yourself. Vocally, there are no guitars or drums present in the song, just a beat and his voice.His tone is angry as he yells throughout the song, but that is to better portray his message. His overall message of the song is understood when he states: Fact that cant get by with my nine to Five and cant provide the right type of Life for my family cause man, these God damn food stamps dont buy diapers Mine explains the hard life he went through and the hard life that it is for people. Life is not easy by any means, and he is angry that he wasnt able to provide food and a life for his family.The meaningful message is portrayed differently than punk rock, but it attracts a different crowd. The major crowd is in the Bronx in New York City where many people may consider it the ghetto. It appealed to the people because it was very unique and they could relate to many of the problems that people sang about. Though the portrayal of the message is different between punk rock and hip-hop, the overall message is very influential in the culture surrounding the music.

African American Kidney Access, African American Reluctance to Donate and Race-Based HLA Studies Essays

African American Kidney Access, African American Reluctance to Donate and Race-Based HLA Studies Essays African American Kidney Access, African American Reluctance to Donate and Race-Based HLA Studies Essay African American Kidney Access, African American Reluctance to Donate and Race-Based HLA Studies Essay African American Kidney Access, African American Reluctance to Donate and Race-Based HLA Studies Introduction: African American Kidney Access and Donation Problems: Variety meats are a scarceness in the United States. This is competently demonstrated by the fact that merely 8,000 of the 23,000 patients expecting a cadaverous kidney undergo organ transplant each twelvemonth. A common wellness status that is treated with kidney organ transplant is end phase nephritic disease ( ESRD ) . Alarmingly, the disease disproportionately affects African Americans. Members of the African American community are four times more likely to see ESRD than members of the white population. Despite consisting a greater per centum of the patient population, African American patients arenonmore likely to have cadaverous nephritic grafts. In fact, although African American patients comprise about 37 % of the ESRD patient population and 34 % of the kidney graft waiting list, they are receivers of merely 25 % of cadaverous nephritic grafts. African American ESRD patients besides typically see delay clip dual that of their white opposite numbers. The first inherent aptitud e of many may be to surmise that socioeconomic factors are the cause of this disparity. Because African Americans are concentrated in low-income communities they may, as a group, experience the same organ entree jobs that affect low income communities at big. This account, nevertheless, does non keep weight because African Americans are still merely 55 % every bit likely as Whites to have a cadaverous renal graft when commanding for income and geographic country. Many lines of enquiry have been borne out of this disparity, but the most popular account for the state of affairs is a race-based human leucocyte antigen ( HLA ) derived function. HLA matching is among the standards used by the United Network for Organ Sharing ( UNOS ) to delegate precedence to patients who are on the waiting list to have a cadaverous kidney. The usage of HLA in delegating points to wait list participants is based on the fact that proper antigenic lucifer increases the rate of survival post-transplantation . Most surveies explain the African American kidney entree job with the being of HLA differences between racial populations. The proposed solution that typically follows this decision is to set clip and attempt into increasing organ contribution among African American communities, members of which are by and large loath to donate variety meats due to a general misgiving of the health care system. Clinicians carry oning HLA based surveies conclude that the issue of African American entree to kidneys is closely tied up with the reluctance of African Americans to donate. This is a debatable manner of nearing the issue of African American entree to cadaveric kidneys because it relies on race, a societal concept, to explicate immunological difference which is a biological phenomenon. The usage of race in these HLA surveies, so, consequences in ill-conceived solutions that do non efficaciously address the job. These race-based surveies conflate two jobs that are unrelated and should be dealt with individually: 1 ) African American entree to kidney grafts and 2 ) the reluctance of African Americans to donate variety meats. The fact that African Americans do non normally donate their variety meats has little to make with the fact that there is a kidney entree job in the community. Race-based HLA surveies do non adequately explicate the African American kidney entree job, and hence, their consequences should non be used to convert black populations to donate their variety meats. This statement will be supported by a treatment of the debatable nature of racial nomenclature in medical literature in general followed by an scrutiny of the manner in which these jobs apply to HLA surveies specifically. Attention will so be given to the normally proposed suggestion that attempts be made to promote African American organ contribution in the name of relieving the kidney entree job and why it is debatable. Finally, a better solution to the African American kidney entree job will be proposed along with and a more effectual and ethical attack to increasing organ contribution among African Americans. Misplaced usage of Race in Medicine: In order to discourse the jobs associated with the usage of race-based HLA surveies in treatments of organ entree among African Americans, an scrutiny of the jobs with racially-focused biological surveies in general is necessary. Racially based scientific surveies are inherently flawed because they use societal buildings in order to explicate scientific phenomena. The Oxford English Dictionary defines race as any of the major groupings of world, holding in common distinguishable physical characteristics or holding a similar cultural background. The usage of race in medical surveies stems, more or less, from fluctuations of this definition. The thought is that distinct physical features are genetically based, and because racial groups are defined by familial standards it merely makes sense that race has a topographic point in medical specialty. In world, nevertheless, racial boundaries are drawn along historical and sociopolitical lines, and it does non do sense to contorting familial intending out of classs whose standards are imbued socially. Harmonizing to Elisa Gordon, both the nonbiological and biological standards that are used to place races are arbitrary. For illustration, the racial classs in the United States are applied to people from different: geographic parts ( e.g. , Asians ) ; linguistic communications ( e.g. , Hispanics ) ; faiths ( e.g. , Jews ) ; and putative tegument colour ( white, ruddy, xanthous, brown ) . The classs identified by Gordon unite groups of people that may hold loose familial commonalties at best. In fact, surveies have shown that the familial difference that exists between members of the same racial group is comparable to the familial difference that exists between members of different racial groups. Gordon besides argues that lone associations between cultural patterns and wellness should be drawn from clinical surveies, instead than associations between race and genetic sciences. This is because if members of racial groups portion anything in common it would be unquestionably un-genetically coupled cultural patterns ( and even this is non a given ) . This fact entirely should deter researchers’ efforts to associate race and genetic sciences. Making so leads to inherently flawed decisions sing the causes of wellness issues impacting peculiar racial groups and promotes the usage of ill-conceived solutions. As Dorothy Roberts puts it, a renewed trust in built-in racial differences provides a convenient but false account for relentless unfairnesss de-spite the terminal of de jure discrimination. Debatable Race-Based HLA Studies: Race-based HLA surveies used to explicate the African American organ entree job operate under the same debatable premises present in general in race-based medical specialty. These surveies are designed with the thought that racial lines are drawn along biological difference instead than historical and sociopolitical parametric quantities. This is evident in the rhetoric normally used in the surveies. The treatment subdivisions of the bulk of these documents frequently provide the account that HLA subtypes that are common in white populations are uncommon in African American populations. Because of this, African Americans are less likely to have nephritic grafts because the organ donor population is comprised of the white bulk, and the HLA patterns present on white kidneys will by and large non be a good lucifer for African American ESRD patients. This account might do sense if the surveies were good designed both scientifically and linguistically. This, unluckily, is non the instance . In general, the race of HLA survey participants is determined by the clinicians carry oning the surveies. The fact that the research workers determine the race of the participants introduces societal and cultural prejudices into the survey. There is no scientific mechanism for finding whether an person is black, white or a member of any other racial group. Therefore, clinicians rely merely on socially prescribed thoughts of what it means to be a member of a peculiar race phenotypically. For illustration, conventionally, persons who are identified as black typically have darker tegument than persons who are identified as white. A clinician carry oning a race-based HLA survey must trust on this loose differentiation entirely when categorising persons in a survey. A deficiency of rigorous standards for distinguishing between racial groups invites great possible for mistake, and the usage of the beliefs of research workers to delegate patient classs is a far call from the use of the r ules of grounds based medical specialty on which the scientific community prides itself. Self-identification by the patients has been a proposed solution to this job, but this is debatable in and of itself. Most African Americans can non follow their lineage past one or two coevalss, if even that much, go forthing room for mistake even with self-identification. The assorted and cloudy lineage of most African Americans invalidates any claims made about the familial differences between black and white populations. Because black populations have a history of blending with white and Native American populations, it does non do sense that specific familial markers, HLA subtypes in this instance, would be more concentrated in black populations than in other racial groups. Additionally, it is hard to categorise phenotypically black Americans for HLA subtyping because it is likely that they portion familial similarity with other racial groups despite a deficiency of physical similarity. Self -identification is besides flawed because it relies on each participant’s single apprehension of race. For illustration, two survey participants with similar lineage may place with different racial classs depending on their personal beliefs. Effectss of Misguided Conclusions of Race-Based HLA Studies: The blemished nature of race-based HLA surveies consequences in ill-conceived decisions. The consequences of these flawed surveies wrongly demonstrate that the HLA patterns found on the kidneys of white and black patients are significantly different. This implies that a kidney coming from a white giver is improbable to be a lucifer for a black patient in demand of a nephritic graft. Because most givers in the register are white, black ESRD patients are at a disadvantage in footings of organ entree because there are non adequate givers that are a good immunological lucifer for them. The solution that follows from this logic, so, is to set clip and energy into convincing African Americans, who typically have a low organ contribution rate, to donate their variety meats. This solution is unsafe for two grounds. The first is that it attempts to work out a job deeply rooted in societal issues by superficial agencies. The fact that African Americans still have limited entree to kidneys when commanding for income and the debatable nature of race-based accounts of the disparity indicate that there is a deeper issue lending to the African American organ entree job. Regardless of what the issue is, it will go on to be if clinicians continue to fulfill themselves with solutions that do non turn to the root cause of the issue. The over-reliance on race-based HLA surveies detracts energy and financess from more meaningful research that may take to effectual solutions. More dismaying than this is the fact that these surveies mislead non merely research workers and policy shapers but besides an full subset of the population. Encouraging populations who are loath about going organ givers is a good thing as it increases the figure of variety meats available to salvage the lives of ill patients. However, when organ procurance organisations and health care professionals use the consequences of race-based HLA surveies in order to convert African Americans to donate their variety meats, they are proposing that the black community has something extra to derive from this action. This is non true, and it is unjust and uneffective to try to alter the attitudes of a community that has strong reserves about donating due to a historical misgiving in the health care system by disregarding this misgiving and utilizing easy but uneffective solutions alternatively. Organ procurances bureaus should non convert African Americans to donate in the name of assisting diminish the unfairnesss that affect their communities. This is misdirecting and incorrect. Alternatively, attempts must be made to understand the misgiving that fuels African American reluctance to donate. Root Causes of African American Kidney Access: African Americans experience disadvantages at all phases of the transplant procedure. It is widely acknowledged that factors such as personal and cultural beliefs, unequal graft exercise and referral holds by nephrologists play a function in hindering entree at the pre-waiting list phase. However, one time African American patients have been referred for graft and go active on the delay list they still see drawn-out delay times. This disadvantage is about entirely explained by the race-based HLA derived function. Reliance on this account detracts from reforms that could dramatically diminish delay times for African American patients. One such reform that was studied over a 10 twelvemonth period at the University of Maryland trades with the usage of givers who are positive for Hepatitis C. African Americans are twice every bit likely to be infected with Hepatitis C virus ( HCV ) , so the allowed organ transplant of HCV positive variety meats may be effectual in shuting the spread in d elay times because African American and non-African American delay list members. The execution of this system at the University of Maryland School of Medicine over a 10 twelvemonth period allowed the delay clip for African American patients to be cut from the national norm of 1,335 yearss to 647 yearss. The station organ transplant endurance rates under the system were comparable to those under a system in which Hepatitis C positive givers are non used. African American Reluctance to Donate: Although a race-based HLA derived function should non be used to promote organ contribution by African Americans, the low contribution rate of the population still merits treatment. Surveies that seek to explicate the deficiency of enthusiasm in the African American community sing organ contribution cite a figure of grounds such as deficiency of consciousness and spiritual beliefs. The most alarming, nevertheless, that regularly reappears in the literature is a misgiving of the medical community. There is a long history of mistreatment of African Americans in health care. Possibly the most publicised issue, nevertheless, is the Tuskeegee Syphilis survey in which legion African Americans were lied to about their wellness status and told they were having intervention when they were non. This, along with other likewise dismaying happenings, has shaped African American attitudes towards organ contribution and the health care system at big. Today, about 38 per centum of African Americans refuse to donate their variety meats. The most normally expressed ground is the fright that as organ givers they will non have equal medical attention. As a community, African Americans do non swear that physicians will make all in their power to salvage them before reaping their variety meats for organ transplant in another patient. Despite these reserves, African Americans report a willingness to donate if they can be assured that their variety meats will assist members of their ain community or if they can be straight donated to persons of a specified ethnicity. A clinician running one survey reported that African Americans will be more likely to donate if people realize their organ contribution can do a difference for their friends and neighbours, the people in their church and their community. This is exactly why the usage of race-based HLA surveies is debatable in the attempt to promote organ contribution by African Americans. The consequences of HLA surveies are being used to do it look as though the organ contribution of an African American person will assist a member of his ain community, but more African American contribution will make nil to relieve the organ entree job. Although their purposes may be baronial, organ procurance bureaus are working African American communities by utilizing the consequences of HLA surveies in this manner. Organ procurement bureaus must alternatively concentrate on a more effectual and more honorable manner to promote black communities to donate variety meats. Battling the misgiving that many African Americans feel towards the health care system will non be a speedy and easy procedure, and it must get down with increased cultural competence preparation for health care practicians and an consciousness of the manner in which unconscious p rejudices cause them to handle African American patients otherwise. An investing in this type of instruction will slowly construct trust because medical and African American communities, ensuing finally in increased organ contribution rates among African Americans. It will besides potentially increase African American entree to variety meats due to a lessening in healthcare-related barriers to entree like physician perceptual experience of post-transplantation endurance of African Americans. Decision: The usage of the consequences of race-based HLA surveies to convert African Americans of the importance of going organ givers is debatable and unethical. The usage of race in scientific literature is inherently flawed in and of itself, and its application to the job of African American organ entree comes with its ain set of jobs. The suggestion of these surveies that increasing organ contribution among African Americans will somehow cut down the organ unfairness impacting the black community is based on ill designed surveies, and should non be used to promote the black community to donate. Alternatively, stairss should be taken to understand the root cause of both the unjust distribution of variety meats every bit good as the reluctance of the black community to donate. Merely after clinicians cease to trust on the wrong impressions propagated by race-based HLA surveies, and discontinue trust on superficial solutions will these highly of import jobs be solved.

USS West Virginia (BB-48) in World War II

USS West Virginia (BB-48) in World War II The final ship of the Colorado-class of battleship, USS West Virginia (BB-48) entered service in 1923. Though built at Newport News, VA, it became a fixture in the Pacific for the majority of its career. West Virginia was present at Pearl Harbor on December 7, 1941, when the  Japanese attacked. Struck by seven torpedoes and two bombs, the battleship sank at its berth and later had to be refloated. Following temporary repairs, West Virginia was sent to Puget Sound Navy Yard in May 1943 for a large-scale modernization program. Emerging in July 1944, West Virginia rejoined the fleet and participated in the Allies island-hopping campaign across the Pacific before taking part in the Battle of the Surigao Strait. In the engagement, it, and several other Pearl Harbor survivors, exacted revenge on Japanese. Though sustaining a kamikaze hit on April 1, 1945 while supporting the invasion of Okinawa, West Virginia remained in position off the island. The battleship remained active through the end of hostilities. Design The fifth and last edition of Standard-type battleship  (Nevada, Pennsylvania, New Mexico, and Tennessee) designed for the US Navy, the Colorado-class was a continuation of the preceding series of vessels. Developed prior to the construction of the Nevada-class, the Standard-type approach called for vessels that had common operational and tactical traits. These included the use of oil-fired boilers rather than coal and the employment of an  Ã¢â‚¬Å"all or nothing† armor scheme. This protection method called for critical parts of the battleship, such as magazines and engineering, to be heavily protected while less important spaces were left unarmored. In addition, Standard-type battleships were to have a tactical turn radius of 700 yards or less and a minimum top speed of 21 knots.    Though largely similar to the preceding Tennessee-class, the Colorado-class instead mounted eight 16 guns in four twin turrets rather than twelve 14 guns in four triple turrets. The US Navy had been advocating the use of 16 guns for several years and after successful tests of the weapon, conversations began regarding their use on the earlier Standard-type designs. This did not move forward due to the cost involved in changing these designs and increasing their tonnage to carry the new guns. In 1917, Secretary of the Navy Josephus Daniels reluctantly permitted the use of 16 guns on the condition that the new class not incorporate any other major design changes. The Colorado-class also mounted a secondary battery of twelve to fourteen 5 guns and an anti-aircraft armament of four 3 guns.    Construction The fourth and final ship of the class, USS West Virginia (BB-48) was laid down at Newport News Shipbuilding on April 12, 1920. Construction moved forward and on November 19, 1921, it slid down the ways with Alice W. Mann, daughter of West Virginia coal magnate Isaac T. Mann, serving as sponsor. After another two years of work, West Virginia was completed and entered commission on December 1, 1923, with Captain Thomas J. Senn in command.   USS West Virginia (BB-48) - Overview Nation:  United StatesType:  BattleshipShipyard:  Newport News Shipbuilding CorporationLaid Down:  April 12, 1920Launched:  November 19, 1921Commissioned:  December 1, 1923Fate:  Sold for scrap Specifications (as built) Displacement:  33,590  tonsLength:  624  ft.Beam:  97.3 ft.Draft:  30  ft., 6 in.Propulsion:  Turbo-electric transmission  turning 4 propellersSpeed:  21  knotsComplement:  1,407  men Armament (as built) 8 Ãâ€" 16  in. gun (4  Ãƒâ€" 2)12  Ãƒâ€" 5 in. guns4 Ãâ€" 3 in. guns2 Ãâ€" 21 in. torpedo tubes Interwar Years Completing its shakedown cruise, West Virginia departed New York for Hampton Roads. While underway, issues emerged with the battleships steering gear. This underwent repairs at Hampton Roads and West Virginia attempted to put to sea again on June 16, 1924.   While moving through Lynnhaven Channel, it grounded following another equipment failure and the use of inaccurate charts. Undamaged, West Virginia again underwent repairs to its steering gear before departing for the Pacific. Reaching the West Coast, the battleship became flagship of the Battleship Divisions of the Battle Fleet on October 30. West Virginia would serve a stalwart of the Pacific battleship force for the next decade and a half.   The following year, West Virginia joined other elements of the Battle Fleet for a goodwill cruise to Australia and New Zealand. Moving through routine peacetime training and exercises during the late 1920s, the battleship also entered the yard to have its anti-aircraft defenses enhanced and the addition of two aircraft catapults. Rejoining the fleet, West Virginia continued it normal operations. Deploying to Hawaiian waters in April 1940 for Fleet Problem XXI, which simulated a defense of the islands, West Virginia and the rest of the fleet were retained in the area due to increasing tensions with Japan. As a result, the Battle Fleets base was shifted to Pearl Harbor. Late the following year, West Virginia was one of a select number of ships to receive the new RCA CXAM-1 radar system. Pearl Harbor On the morning of December 7, 1941, West Virginia was moored along Pearl Harbors Battleship Row, outboard of USS Tennessee (BB-43), when the Japanese attacked and pulled the United States into World War II. In a vulnerable position with its port side exposed, West Virginia sustained seven torpedo hits (six exploded) from Japanese aircraft. Only rapid counter-flooding by the battleships crew prevented it from capsizing. The damage from the torpedoes was exacerbated by two armor-piercing bomb hits as well as a massive oil fire started following the explosion of USS Arizona (BB-39) which was moored aft. Severely damaged, West Virginia sank upright with little more than its superstructure above the water. In the course of that attack, the battleships commander, Captain  Mervyn S. Bennion, was mortally wounded. He posthumously received the Medal of Honor for his defense of the ship.    Rebirth In the weeks after the attack, efforts to salvage West Virginia commenced. After patching the massive holes in the hull, the battleship was refloated on May 17, 1942 and later moved to Drydock Number One.   As work commenced 66 bodies were found trapped in the hull. Three located in a storeroom appear to have survived until at least December 23. After extensive repairs to the hull, West Virginia departed for Puget Sound Navy Yard on May 7, 1943. Arriving, it underwent a modernization program that dramatically altered the battleships appearance. This saw the construction of a new superstructure which included trunking the two funnels into one, a greatly enhanced anti-aircraft armament, and elimination of the old cage masts. In addition, the hull was widened to 114 feet which precluded it from passing through the Panama Canal. When complete, West Virginia looked more similar to the modernized Tennessee-class battleships than those from its own Colorado-class. Return to Combat Completed in early July 1944, West Virginia conducted sea trials out of Port Townsend, WA before steaming south for a shakedown cruise at San Pedro, CA. Completing training later in the summer, it sailed for Pearl Harbor on September 14. Pressing on to Manus, West Virginia became flagship of Rear Admiral Theodore Ruddocks Battleship Division 4. Departing on October 14 with Rear Admiral Jesse B. Oldendorfs Task Group 77.2, the battleship made its return to combat operations four days later when it began bombarding targets on Leyte in the Philippines.   Covering the landings on Leyte, West Virginia provided naval gunfire support for the troops ashore.   When the larger Battle of Leyte Gulf began, West Virginia and Oldendorfs other battleships moved south to guard the Surigao Strait. Meeting the enemy on the night of October 24, the American battleships crossed the Japanese T and sank two Japanese battleships (Yamashiro Fuso) and a heavy cruiser  (Mogami). Following the battle, the Wee Vee as it was known to its crew, withdrew to Ulithi and then to Espiritu Santo in the New Hebrides.   While there, the battleship entered a floating dry dock to repair damage sustained to one of its screws during operations off Leyte.   Returning to action in the Philippines, West Virginia covered landings on Mindoro and served as part of the anti-aircraft screen for transports and other ships in the area. On January 4, 1945, it took on the crew of the escort carrier USS  Ommaney Bay which was sunk by kamikazes. A few days later, West Virginia commenced shore bombardment of targets in the San Fabian area of Lingayen Gulf, Luzon. It remained in this area until February 10.   Okinawa Moving to Ulithi, West Virginia joined the 5th Fleet and quickly replenished in order to take part in the invasion of Iwo Jima. Arriving on February 19 as the initial landings were underway, the battleship quickly assumed a position offshore and commenced striking Japanese targets. It continued to support operations ashore until March 4 when it departed for the Caroline Islands. Assigned to Task Force 54, West Virginia sailed to support the invasion of Okinawa on March 21. On April 1, while covering the Allied landings, the battleship sustained a kamikaze hit which killed 4 and wounded 23. As the damage to West Virginia was not critical, it remained on station. Steaming north with TF54 on April 7, the battleship sought to block Operation Ten-Go which included the Japanese battleship Yamato. This effort was halted by American carrier planes before TF54 arrived. Resuming its naval gunfire support role, West Virginia stayed off Okinawa until April 28 when it departed for Ulithi.   This break proved brief and the battleship quickly returned to the battle area where it remained until end of the campaign in late June.   Following training in Leyte Gulf in July, West Virginia returned to Okinawa in early August and soon learned of the end of hostilities. Steaming north, the battleship was present in Tokyo Bay on September 2 for the formal Japanese surrender. Embarking passengers for the United States twelve days later, West Virginia touched at Okinawa and Pearl Harbor before reaching San Diego on October 22. Final Actions After taking part in Navy Day festivities, West Virginia sailed for Pearl Harbor on October 30 to serve in Operation Magic Carpet. Tasked with returning American servicemen to the United States, the battleship made three runs between Hawaii and the West Coast before receiving orders to proceed to Puget Sound. Arriving, on January 12, West Virginia commenced activities to deactivate the vessel. A year later on January 9, 1947, the battleship was decommissioned and placed in reserve. West Virginia remained in mothballs until being sold for scrap on August 24, 1959.

International Business (Embraer Corporation) Essay

International Business (Embraer Corporation) - Essay Example The internationalization strategies that the companies resort to, often involve numerous factors. In the light of this fact, it should be stated that most governments are interested in attracting the financial resources of the Multinational Corporations. Therefore, while some companies develop their product, extend markets, increase the amount of workers, the others win governmental tenders, invest, and look for partners. Another aspect of the trade globalization strategy is closely linked with the opportunity to create employments all over the world. While the governments get an opportunity to reduce unemployment rates, the MNCs enjoy lower labour costs. The aim of the research is to analyze the globalization and expansion strategy of the EMBRAER (EMBRAER - Empresa Brasileira de Aeronautica S.A.). Since it is one of the largest aeronautical and aerospace conglomerates, it should be highlighted that the Brazilian globalization experience may be regarded as a universal path to success for other corporations with headquarters located in the developing countries. Company Overview. The company was founded in 1969 as a government owned corporation. It was engaged in developing and building aircrafts, including commercial and military machines. The globalization process of the EMBRAER Corporation started in 1994 when the company was privatized. The manufacturing capacities are concentrated in Brazil, and by 2010 the company had occupied the third place among the largest commercial aircraft suppliers (jointly with the Canadian Bombardier), while the first two places righteously belong to Boeing and Airbus. The total number of employees exceeds 17 000, and the expected net income in 2012 approaches to $ 350 million. Business units of the corporation are located in Brazil, USA, China, France, Portugal, and Singapore. In general, the internationalization of the aircraft business became the key driver of the expansion processes in EMBRAER. (King, 2006) In accordance with the official data, given on the website (Embraer Profile, 2012), the growth in 2000s was mainly stipulated by the increased demand for the ERJ aircrafts family. Considering the fact that the world demanded high flight safety after September 11, 2001, the company succeeded to adapt to the changed requirements of the aircraft building industry. The expansion strategy of the EMBRAER Corporation is mainly associated with the opportunity to invest into the aircraft and air transportation industries. Therefore, as it is stated in Kronemer (2006), American Airlines operates up to 200 ERJ jets. Regardless of the fact that AMR owns these aircrafts through the American Eagle Company, the EMBRAER had an opportunity to provision up to R$583.2 million. In the light of this fact, it should be stated that the described decision could influence the secondary market for medium sized jets, and the company performed essential restructuring the financial management oriented at international markets. Jo hnson and Turner (2003) emphasize that such a restructuring was needed for covering potential expenses, and getting financial guarantees linked with the ERJ 145 jets supplies. The next step was linked with the investments into the customer support network. Executive aviation is regarded as the sphere with the highest priority. On the other hand, the commercial aviation investments were

Family study-child Essay Example | Topics and Well Written Essays - 1000 words

Family study-child - Essay Example The mother was busy preparing supper, the elder brother and sister were handling their homework and the father was watching his favorite television program. On being asked to provide 2 story books she would wish to be read from, the child brought those she had interacted with previously and found them interesting. When I asked why she chose those particular books, she said she enjoyed the stories contain therein and that they always made her laugh. She recollected how their teacher read them the stories and made them repeat some words that were funny to her. She also reviewed how one of her friends at school found it hard to say some words correctly and mentioned she was better than her in that. In all these questions, the girl showed great ability when it came to answering the simple questions. She answered them simply and in logical manner, expressing her feeling where needed. On asking the exact point where she liked reading the book from, she quickly suggested in their bedroom citing that her elder brother does that for her many times. She also said that her teacher told her how parents read their children stories before they sleep. Considering the answers given it is clear that this girl memory had grown significantly that she could remember most of the things in her past. Such is the case that every happening reminded her of similar experiences or even conversations made earlier and she would recite them in a logical manner. While reading the first story, the girl kept comparing my reading that of her teacher. She particularly insisted on the fact that her teacher always asked them to repeat some parts of the story after her. It is interesting that the girl had a good recollection of the story and would interject my reading from time to time to ask questions on the story, although she already knows the answers. On trying to answer her questions she would refute some of my answers saying it did not reflect what her

Crime Fiction Notes Essay Example for Free

Crime Fiction Notes Essay Study: read over your essay and familiarise yourself with your wording have discussions Figure out the arguments in your head practise exams don’t just Know the material REALLY UNDERSTAND it The Big Sleep Observation: conventions that are constant throughout generations of crime fiction genre (passion, detachment, love, hope, justice) are a reflection on the timeless and universal human needs conventions that are subverted are a reflection of changing values and context Context: 1950’s post WW2 Economic depression Desire for hope, justice, escapism Theorists: Schwartz: â€Å"crime fiction serves to explicate the dangers and pleasures of life. † There is human emotion with which the audience can empathise Gives the illusion that they have entered the world of crime Miller: â€Å"A rhetorically sound definition of genre must be centred not on the substance or form of discourse, but on the action it is used to accomplish,† manipulate audiences empathy to engage them in the text typical of TRADITIONAL crime fiction GENRE Techniques: (Remember these techniques interchangeably and only use the appropriate ones) Context specific 1. Subvert Context: Desire for hope Convention: film noir subgenre traditionally seek to realistically portray the inescapable broken nature of society – subverted – Happy Ending Observation Theorist: Imperative of genre to allow for subversion to become relevant to socio-economic or political context Chandler, â€Å"the cycles and transformations of genre can be seen as a response to the changing political, social and economic conditions† 2. Context: socio-economic context of 1940’s World War 2 America midst of an economic depression employment was low and consequently crime was on the rise yearning for justice and heroism to correct the broken nature of society Convention: Characterisation of Marlowe as determined and relentless Ironic and self-depreciating dialogue â€Å"I’m just a guy whose paid to do other peoples laundry† embodies disposition of lone ranger Heroic connotations, â€Å"why did you have to keep going?†, â€Å"too many people told me to stop.† Observation and Theorist: Crime fiction gives the audience what it NEEDS 3. Context: 1950’s audience can critique broken society and judge morality of characters Convention: Conforms to traditional structure of c/f: red herrings, witnesses, investigation, unveiling of mystery Lack of narration; no point of view; audience critique characters E.G. Marlowe, womanizer, heavy drinker, blatant disrespect for authority and the law, â€Å"I don’t know what I am going to tell them- but it will be pretty close to the truth† retain a degree of morality, reproach toward reprehensible behaviour, â€Å"my, my, my, so many guns for so few brains.† Reflects ambivalent noir concept that everything good is tainted with evil Observation and theorist: Convoluted plotline makes the audience â€Å"objective viewer† Critique the broken society and the morality of characters Livingston, â€Å"different genres are concerned with different world views†¦Ã¢â‚¬  Universal 1. Conform Context: common timeless human desires transcend context and audience and hence are constant throughout generations of crime fiction Convention: human fascination with romantic love interest foregrounded interaction between ‘hardboiled detective’ Marlowe and ‘femme fatal’ Vivien Rutledge Verbal sparring soaked in double-entendres indicative of sexual tension; â€Å"do you always think you can handle people like trained seals?† â€Å"uh-huh and I usually get away with it too† Theorist: Colette, â€Å"romance pervades oral and written story-telling as far back as can be traced† Anil’s Ghost Observations 1. Post-colonial text; exposure to different culture; challenges Western perspective of crime fiction genre Barthes, â€Å"it is in relation to other texts within a genre rather then in relation to lived experiences that we make sense of certain events within a text.† Cohen, â€Å"Genres are open categories. Each member alters the genre by adding, contradicting or changing constituents, especially those members most closely related to it.† 2. Challenges not only our understanding of the genre, but also our perception of the world around us Berger: â€Å"Never again will a single story be told as though it were only the one†. 3. Crime fiction can be a means of contextual political and philosophical discussion The subjectivity of truth Nihilism and post-modernism Techniques 1. Context: socio-political context 1980’s Sri Lanka multifaceted civil war unimaginable for a western audience – but can relate to universal themes Convention: Mystery as a medium for Anil’s quest for her identity Ambiguous characterisation forces reader to share in her frustration and confusion Refuses to be defined or typecast, religious allusion, â€Å"The return of the prodigal†, â€Å"I am not a prodigal† Symbolised through an aggressive campaign to chose her own name Observation and theorist: international audience relate to a common quest multifaceted nature of identity Ambiguity and struggle within an individual, reflective of wider post modern society 2. Observation, context and theorist: Fister; â€Å"crime fiction deliberately exploits anxiety within the reader through reflecting and magnifying societies fear du jour.† Terror of those living within civil war Convention: explored through specific victims, personalise pain; agonising imagery Gunesena’s crucifixion, â€Å"prized the nails from the tarmac, freeing his hands† fear impregnates every facet of society; personification of Sri Lankan national fear through simile used to warn against the dangers of truth, â€Å"truth is like a flame against a lake of petrol† 3. Observation: aware of the horrendous acts of violence but absent from the actual event never presume to understand the degree of suffering novel seeks to extrapolate sympathy NOT empathy Convention: Subversion: post-modern style, not one single perspective, intrusive narration to explore a variety of characters perspectives. (Berger: â€Å"Never again will a single story be told as though it were only the one†.) Foregrounds the differences; â€Å"the darkest Greek tragedies were innocent compared to what was happening here† compares European mythology with Eastern reality, highlights vast discrepancies between crime fiction Theorist: Texts challenge audience’s worldly perceptions; Cole: â€Å"This can function as a form of social protest and reform†¦ giving crime writers the status symbol of social activists.† More on VALUES

Is artificial intelligence possible? Essay -- Computer Science

Is artificial intelligence possible? IS A.I. POSSIBLE? In the science fiction film, The Terminator directed by James Cameron, the computers in the movie "get smart" and rise up against their human masters. In other words, the computers in the movie were able to become independent of their programmers and developed a kind of artificial intelligence (A.I.). This essay will prove that in real life, computers will never realize artificial intelligence, and also even though functionalism is based on an analogy between humans and computers, it is an effective way to describe the interaction between the mind and body. Two essays will be evaluated in this essay. The first essay was called; "Can Computers Think?" by John Searle which rejects the theory of A.I. The second essay was called; "Escaping from the Chinese Room" by Margret Boden, which supports A.I. A functionalist view of the mind is one that draws an analogy between the functioning of the human brain and the functioning of the digital computer. The strongest view says that the mind and the brain are just digital computers. This is called strong A.I., which is a term coined by John Searle. American Hilary Putnam was one of the first to make the analogy between the brain and the computer Putnam said it made no more sense to compare the mind and the brain then to compare the software with the hardware of a computer. He also made the point that psychologists were like programmers and electrical engineers were like physicians. Putnam also made the point not to take the analogy too far. There are important differences between computers and humans. One of the differences Putnam felt was that "à ¢Ã¢â€š ¬Ã‚ ¦all humans were able to learn from their experience and so change their own program but few computers could do that unaided" Hilary Putnam also argued against identifying psychological events with neurophysiologic events, and even against the attempt to do so. He felt mapping the brain to the mind was a waste of time. Jerry Fodor was another well known functionalist. Fodor, like Putnam felt that functionalism alleviated many of the problems associated with other mind body theories. These other mind body theories included Cartesian Dualism, materialism, behaviorism and the identity theory. Cartesian Dualism is the theory that that the mind and the brain are two separate things... ... as these are products of people not brains." She tries to demonstrate that the robot and the human brain are the same, in that they are both made up of small very stupid parts which build into a collective brain that is capable of understanding; "The fact that a certain light sensitive cell can respond to intensity gradients and that one neuron can inhibit the firing of another" Problem with this explanation is that now instead of input from a keyboard, the robot now receives its information from its sensors. The input will still be processed programming in the CPU of the robot. Boden did not disprove Searle's point that the syntax of a program is not sufficient for understanding of a digital computer system. Boden could not show that non-biological entity did have understanding, but she did show that Searle's argument on this point was a little weak because it relied on in tuition. The functionalism theory was shown to be an attractive theory a long as it was not taken too literally. Consequently it was shown in this essay that due to syntactical nature of computer programs and the computers lack of causal powers needed for a machine to have mental states.

How to manage your time effectively Essay

Ever come up short on schedule for something that should have been finished? On the off chance that you addressed yes, maybe you experienced difficulty dealing with your time legitimately. Time administration can show you how to take advantage of your time. Time management is one of the most important skills for university students. You should be very busy with your studies while, at the same time, balancing it with an on-campus social life. You have been admitted to the school of your choice, with hopes of meeting new friends and finding success in your classes. Getting into college is the easy part, but the hard part would be finishing it in one piece. College can be fun but at the same time frustrating, especially if your professors are being difficult or too strict. You may have thought some of these things when you first visited your university’s campus: †¢ I am overwhelmed. This is too much. †¢ The campus is so big, how will I ever find my way around? †¢ Okay, now I am a college student. Now, what happens? Surviving college is not just about how intelligent you are. It is not about how high you scored on standardized tests or admissions exams, and it is not entirely about classes and studying. People need to socialize; it’s part of their human nature. College does allow you to interact, but you must also study. It is important that you balance your time between studying and socializing. Some college students study themselves to the point of fatigue, but then some of them do not pass their classes due to stress. Other college students think of the university as one endless party. Some students do not appreciate the importance of socialization, and others do not value the importance of their education. You may be an intellect but it is not the only key to success in college. What is the secret to collegiate success? Time management is vital. College requires you to balance your life. You have to manage everything, such as class preparation, studying, campus organization activities, spending time with friends, eating healthy, exercising, and sleeping. Time management is not solely about studying, but also the attentiveness on relieving the stress of college life. Here are some ways that you can effectively manage your precious time: †¢ Learn to prioritize. Once you are focused on the goals you wish to achieve, you must prioritize the activities required to reach the goal. That will help you determine what particular task needs to be accomplished first and what tasks can be reserved for the future. To accomplish your goals more efficiently, try to mark deadlines on your calendar. †¢ Try to set goals. Know what you want to achieve and make those achievements your priority. That could be anything, whether you want to achieve the goal in a day, a week, a month, or a semester. Determine what your academic goal should be. Making goals could make it simpler for you to concentrate; instead of juggling subjects that you think are easy, it could be very stressful and often results in failing to achieve your goal. If you have more than one goal, it is wise to separate them into more manageable sections. Make a list of what you want to achieve for one week and for following weeks. †¢ Use extra time constructively. As an example, instead of doing nothing before class while waiting for the professor to arrive, try to think of the latest class assignment. If you are assigned to write an essay or research paper, use the time to think of a good topic for it. It is a fantastic way to portion your time into manageable pieces, and great time saver. It also allows you more time to spend time with your friends. When it comes to finishing tasks, sooner is always better than later. †¢ Time management planning is available for you to use to your advantage. Do not squander the resources and methods or available to you. The key to time management planning is carrying out the plans. Some college students get easily swayed by friends to attend a party while the student should be studying or otherwise in the process of achieving the established goals. Oftentimes, students think that they can put off the agenda until tomorrow. Doing so often results in too many things to do the next day, resulting in stress and frustration. You may have thought that each day is too short for you to finish all your work, and you may wish that there were more hours in a day. Those wishes are impossible. Therefore, the best course of action is to make use of what little time you do have.

Aci Financial Statement

ASA University Review, Vol. 6 No. 2, July–December, 2012 Cash Flow Statement Disclosures in Pharmaceutical Companies: Bangladesh Perspective Mst. Joynab Siddiqua* Mohd. Takdir Hossan* Abstract Cash flow statement is a vital part of the financial statements. Preparation of cash flow statement is required as per Companies Act 1994 and the public limited companies enlisted with stock exchange are to prepare this statement as per other statutory laws and regulations. The acceptance of International Accounting Standard- 7: Cash Flow Statement has added a new dimension to the preparation and presentation of financial statements in Bangladesh.The companies are now preparing this statement as an integral part of their financial statements. This paper examines empirically the current practices followed by sample companies in preparation of cash flow statement and concludes that the sample companies are in line (with few exceptions) with the requirements of International Accounting Stan dard (IAS)-7 or Bangladesh Accounting Standard (BAS)-7. It also proposes some suggestions for improving the presentation of the statement Key words: Cash flow statement, IAS/BAS, Listed Company, Disclosure.Introduction The purpose of a cash flow statement is to provide information on the cash flow from a company’s operating, investing and financing activities to enable the users of its financial statements to evaluate the ability of the company to generate cash and to use the historic cash flows to predict future cash flows. The cash flow information enhances the comparability of the operating performance by various companies, because it eliminates the effects that arise from the use of different accounting treatments for the same transactions and events.The use of cash flow information is gaining importance in the analysis of financial statements (Epstein 1991; Yap 1997; Jones and Widjaja 1998; Previts and Bricker 1994). Cashflow information is considered less open to manipu lation than information on earnings, because it is based on the actual receipt and payment of cash only and not on the accrual and other accounting principles. Rees (1995:75) adds that the cash flow statement can be more informative than the other statements. However, he literature on the cash flow statement indicates that there are grey areas in cash flow reporting that are open to various interpretations (Everingham and Watson 2002). The perceived simplicity of the cash flow statement may therefore create synthetic confidence in the reliability of companies’ cash flow reporting and the comparability of various companies’ cash flow information. The acceptance of IAS-7: The Cash Flow Statement has added a new dimension to the preparation and presentation of financial statements in Bangladesh.This paper is an attempt to investigate into the state of cash flow reporting by the listed Bangladeshi * Lecturers, Department of Business Administration, ASA University Banglades h 210 ASA University Review, Vol. 6 No. 2, July–December, 2012 Textiles and Clothing companies in general. The focus is not on the quality of the reporting of the companies but rather on what the reporting levels are in general. Objectives of the study The major objectives of the study are as follows: 1. to identify the current practice of cash flow statement of Pharmaceutical companies in Bangladesh. 2. o provide present cash flow statement format, structure and reporting on the basis of information provided in the annual reports of the selected listed Pharmaceutical companies in Bangladesh. Methodology of the study The study was conducted in accordance with secondary information obtained from various sources. The overview of standardization of financial reporting and the regulatory framework has been based on laws, regulation, and guideline and also on various published sources of information taken from International Accounting Standard Board (IASB) and Bangladesh Accountin g Standard 7 (BAS 7).A limited survey has also been made covering a total of 12 Pharmaceutical companies’ annual reports (2009) enlisted in Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). These are selected on the basis of convenience sampling procedure. In order to make the study more revealing it also covers some research articles, textbooks, publications and web sites of various accounting bodies. Limitations of the study 1. Applied non profitability techniques have been used. 2. Due to limitation of the extensive materials, books and previous studies in Bangladesh literature review could not be extensive. 3.This study consists of only 12 listed Pharmaceutical companies due to time and resources constraints. Literature review Cash flow statement: A historical surroundings/background Cash flow Accounting (CFA) was the main system of accounting up to beginning of the 18th century (Watanabe, Izumi: The evolution of Income Accounting in Eighteenth and Nineteent h Century Britain, Osaka University of Economics, Vol. 57, No. 5, January 2007, p. 27-30). Till then, accounting allocation and profit measurement were relatively unimportant; the profit and loss account being used to close off ledger accounts at each period end.However, with the advent of concept and practices of business continuity, periodic measure and statement of financial position began to grow. Thus the basis of cash transaction becomes foundation for the allocation based systems of accounting today. Although there has been a reasonably sustained interest in fund flow statements (based on allocated accounting data) since the beginning of the twenty century, CFA appears to have received little or no support from accountants until the early 1960s.At that time there was little concern over the use of ‘cash flow’ data in the financial analysis- cash flow being interpreted as ‘profit plus depreciation (. Winjum, J. o, 1972). In 1961 AICPA recognized the importan ce of fund statement by publishing Accounting Research Study (ARS) Cash Flow Statement Disclosures in Pharmaceutical Companies 211 NO 2â€Å"Cash flow analysis and fund statements†. Before that, accountants had prepared funds statements primarily as management report. The Accounting Principles Board (APB) responded in October 1963 by issuing APB Opinion NO. : â€Å"the statements of and application of funds†, which recommended that a statement of sources and application of funds be presented on a supplementary basis. Because of the favorable response of the business community to this pronouncement, the APB issued Opinion No. 198: â€Å"Reporting changing in Financial Position† in March 1971. This opinion required that a statement of changing financial position be presented as a basic financial statement and be covered by the auditor’s reports. In 1981 the Financial Accounting Standard Board (FASB) reconsidered fund flow issues as part of the conceptual fr amework project taken in 1976.At this time the FASB decided that the cash flow reporting issues should be considered at the standard level. Subsequent deliberation resulted in Statement of Financial Accounting Standard (SFAS) No. 95: ‘Statement of cash flows’ in Nobember1987 (Weygandt, Kieso, Kimmel 1998: 1936). Fund flow statement Vs Cash flow statement Both fund flow statement and cash flow statement serve as a fundamental parts of the financial statements. In 1961, the AICPA issued ARS No. 2, â€Å"Cash Flow Analysis and the Fund Statements† which recommended that a fund statement covered by auditor’s opinion be included in companies financial reports.According to paragraph 5 of Preface to Statement of International Accounting Standard [approved by the IASC Board in November1982 for publication in January 1983 and supersedes the preface published in January 1975 (amended March 1978)], â€Å"the term ‘financial statements’ covers balance sh eets, income statement or profit and loss accounts, statements of change in financial position, notes and other statements and explanatory materials which are identified as being part of financial statements† (IASC, 2000:32).As per paragraph 7 of framework for the Preparation and Presentation of Financial Statements (approved by IASC Board in April 1989 for publication in July 1989): â€Å"A complete set of financial statement normally includes a balance sheet, an income statements, a statements of change in financial position (which may be presented in a variety of ways, for example as a statement of cash flow or a statement of fund flows) and those notes and other statements and explanatory materials that are an integral part of the financial statements† (IASC : p. 3-44). As per paragraph 4 of the previous IAS 7 (October 1977), statements of change in financial position, the term ‘ funds’ referred to cash, cash and cash equivalents or working capital (IFA C, 1992: p. 813). Funds provided or used in operation of an enterprise should be presented in the statements of changes in financial statement separately from other sources and uses of fund.Unusual items, which are not part of ordinary activities of the enterprise, should be separately disclosed (IASC: Para 21). But many users of financial statements consider current practices of reporting fund flows as confusing because too much information is compressed in the statements of change in financial position, and because no single definition has been established (Mosich and Larsen, 1982; p. 935).In order to develop a conceptual framework for financial accounting and reporting, the FASB issued in December 1980 a discussion memorandum â€Å"reporting Fund flow, Liquidity and Financial Flexibility† which was issued for the following reasons: (1) for assessing future cash flow, and (2) current practices regarding the reporting of funds flow information are not entirely satisfactory. As a result of deliberation, FASB issued SFAS NO. 95 ‘Statements of Cash Flow’ in 1987.The statements require the inclusion of statements of Cash Flows rather than a statement of Change in Financial position when issuing a complete set of financial statements 212 ASA University Review, Vol. 6 No. 2, July–December, 2012 which was made effective for annual periods ending after July 15, 1988. The major requirements of the statements are of the following two areas: Basis of Presentation: The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents.Classification of cash flows: Cash flows are to be classified according to operating, investing and financing activities. The basis of such classification is derived from the financial theory, which state that the enterprise derives the cash used for investing activities and settlement of outstanding financial obligation in an accounting period from internal and external s ources. Internal cash sources emanate from the net cash generated from current operation and perhaps disinvesting and depletion of cash resources at the start of the period.External cash sources come from financing activities such as borrowing and receiving cash from the sale of equity shares to existing and new shareholders (Wallace et,al). Benefits of Cash Flow Information – The information in a cash flow statement helps investors, creditors, and others to assess the following aspects of the firm’s financial position. – Such statements serve as a mechanism for predicting the ability to generate future cash flows for the investors, creditors and others. – This enables managers or management to plan coordinate and control financial operation in an effective manner. It gives an indication of the relationship between profitability and cash generating ability thus of the quality of the profit earned. – It furnishes information to the management regard ing the entities’ ability to pay dividend and meet obligations. – Analyst and other users of financial information often, formally or informally, develop models to assess and compare the present value of the future cash flow of entities. Historical cash flow statements could be useful to check the accuracy of past assessment (ACCA Text book part 2. P. 324). It is free from manipulation and is not affected by subjective judgments or by accounting policies. – Such a statement dictates situations when a business has made huge profit but has run out money or it has sustained loss but has enough cash availability. – The extent of cash generated from operational activity and external finance in order to meet capital, tax, and dividend requirements can be obtained from such statements (Lee, T. A: 1972:27-36). – It aids in the evaluation of risk, which includes both the expected variability of future return and probability of insolvency or bankruptcy ( Hen drickson, Eldom.S, 1982: 237). – Such statements reveal the capability of an enterprise to pay its short obligation as and when due to the lenders. – A cash flow statement in conjunction with a balance sheet provides information on liquidity, viability, and adaptability. The balance sheet is often used to obtain information on liquidity, but the information is rather incomplete for this purpose as the balance sheet is prepared at a particular point of time. Cash Flow Statement Disclosures in Pharmaceutical Companies 213 It may assists users of financial statements in making judgments on the amounts, timing and degree of certainty of future cash flows. – This statement provides information that is useful in checking the accuracy of past assessment of future cash flows and in examining the relationship between profitability and net cash flow and the impact of changing price (IAS 7: Para 3 & 4). – Information on cash flows classified by three groups of activ ities (Operating, investing and financing) that allow users to assess the impact of those activities on the financial position of the enterprise and the amount of its cash and cash equivalents.This information may also be to evaluate the relationship among those activities (IAS 7: Para 11). – This statement is of special importance in assessing future cash flows, quality of income operating capability, financial flexibly and liquidity, and information on financing and investing activities. Using cash flows from operating activities from the cash flow statements, different ratios such as liquidity, ratio, solvency ratio, and profitability ratios can also be calculated to evaluate an enterprise’s liquidity, solvency, and profitability. Aziz uddin and Bala, 2001: p. 14) Overview of Cash flow statement The cash flow statement explains the changes that have occurred in the company’s cash and cash equivalents during the year by classifying the cash flows in its operat ing, investing and financing activities. The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents. The classification is done in a way that is most appropriate to the company’s business.The following are the definitions of the components of the cash flow statement: Cash: cash on hand and demand deposits Cash equivalents: short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Operating activities: the principal revenue-producing activities of the enterprise and other activities that are not investing or financing activities Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash equivalents.Financing activities: activities that result in changes in the size and composition of the equity capital and borrowings of the enterprise (Epstein, p. 93). Objective and Scope of IAS 7 Information about the cash flow of an enterprise is useful in providing users of financial statements with a basis to assess the ability of the enterprise to generate cash and cash equivalents and the needs of the enterprise to utilize those cash flows. The economic decision taken by users requires an evaluation of the ability of an enterprise to generate cash and cash equivalents and timing and certainty of their generation.The objective of IAS 7 is to require the provision of information about the historical change in cash and cash equivalents of an enterprise by means of a cash flow statement that classifies cash flows during the period from operating, investing and financing activities. An enterprise should prepare a cash flow statement in accordance with the requirements of IAS 7 and should present it as an integral part of its financial statements for each period for which financial statements are prepared.Users of an enterprise’s financial statements are interest ed in how the enterprise generates and uses cash and cash equivalents. This is the case regardless of the nature of the enterprise activities and irrespective of whether cash can be viewed 214 ASA University Review, Vol. 6 No. 2, July–December, 2012 as the product of the enterprise, as may be the case with a financial institution. Enterprises need cash for the same reason however different their principal revenue- producing activities might be.They need cash to conduct their operations, to pay their obligations and to provide return to the investors. Accordingly this standard requires all enterprises to present a cash flow (Para 1 & 3). Presentation of Cash flow statement under IAS 7 Cash and cash equivalent: The definition of cash and cash equivalent are central to the preparation and interpretation of cash flow statements. Cash consists of cash in hand and demand deposits, coins and notes of an organization, etc. In our country deposits in postal accounts may be termed as c ash (Cooper and Ijiri, 1984: 88; Ghosh, 2001).Cash equivalents are short-term, highly liquid investments that are readily convertible into known amount of cash and which are subject to an insignificant risk of change in value. According to the definitions of paragraph 6 of IAS 7 cash comprises cash in hand and demand deposits; usually ‘cash on hand’ includes currency, notes, and coin in the cash box of the enterprise. It also includes prize bond, negotiable money orders, postal orders, and under posited checks, bank drafts or pay- order.Demand deposits refer to deposits in checking accounts in banks and other financial institutions that may be withdrawn without notice usually subject to deduction of outstanding check. Thus cash equivalents – 1. are short-term investments but the ‘term’ ‘short’ not clearly specified, although a period of three months and less is suggested to be taken as short term period. 2. are highly liquid investments. Here ‘liquid’ means having in a situation where cash equivalents are available in sufficient amount to meet obligation of payments. . are investments that are both: (a) readily convertible, to known amounts of cash and (b) subject to an insignificant risk of change in value. According to SFAC No. 95, the risk categorically refers to risk of change in interest rate. The short-term investments are so near their maturity that they represent insignificant risk of changes in interest rate. Examples include treasury bills, commercial papers, and money market funds purchased with cash that is in excess of immediate needs.However, although by definition, cash equivalents refer to short term highly liquid investments, they are usually held for the purpose of meeting short term cash commitments rather than for other purpose. For an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to insignificant risk of change in value. Therefore an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months and less from the date of acquisition. Equity nvestments are excluded from the cash equivalents unless they are, in substance, cash equivalents, for example in the case of preferred share acquired within a short period of their maturity and with a specified redemption date (Para 7). Cash Flow Statement Disclosures in Pharmaceutical Companies 215 Preparation of Cash flow statements IAS 7 requires cash flows to be classified into operating, investing, and financing activities. Example of cash flows by category Operating Activities Inflows Receipts from customers Outflows Payments to suppliersAdvance deposits from customers Wages and salaries to employees Income tax refunds Income tax payments Interest received on customers’ notes or Other tax payments accounts Dividends and interest received from Interest paid on bank debt or bonds outstanding and inve stments and included in determining net included in determining net income income Investing Activities Cash received from sale of capital assets Payments for purchase of capital assets Cash from sale of debt or equity investments Cash flows capitalized as intangible assets, such as:  · development costs  · start-up costs  · capitalized interest  · exploration Costs Collection of principal on loans to others Purchase of debt or equity securities of others Interest and dividends received on investments Loans extended to others and not included in determining net income Financing Activities Net proceed of issuing debt or equity securities Payment of principal on bonds or bank loans Cash proceeds received from bank loans Purchase of the entity’s own shares Interest paid on bank debt or bonds outstanding and not included in determining net income Dividends paid to shareholders Variations in Reporting activities for Cash flows A. Operating or Financing activities Transactio ns with different categories included in cash flows are classified in a different manner. According to IAS 7, Para 12, â€Å"A single transaction may include cash flows that are classified differently.For example, when the cash repayment of a loan includes both interest and capital the interest element may be classified as operating activities and the capital amount is classified as financing activities†. B. Operating or investing and financing activities Some cash flows may be classified as arising from any activities such as ‘interest’, ‘dividend’ ‘income tax’. The detailed provisions of these types are as follows. 216 ASA University Review, Vol. 6 No. 2, July–December, 2012 Interest: a. For a financial institution, interest paid and interest received are usually classified as operating cash flows (para 33). b. For other enterprise, interest paid and interest received may be classified as operating cash flows because they enter into the determination of net profit or loss.Alternatively, interest paid may be classified as financing cash flows, because they are costs of obtaining financial resources. Interest received may be classified as investing cash flows, because they are returns on investments (para 33). Dividend: a. For a financial institution, dividends received are usually classified as operating cash flow (Para 33). b. For other enterprise, dividends received may be classified as operating cash flows because they enter into the determination of net profit or loss. Alternatively dividend received may be classified as investing cash flows, because they are returns on investments (para 33). c. Dividend paid may be classified as financing cash flows, because they are costs of obtaining financial resources.Alternatively dividend paid may be classified as component of cash flows from operating activities in order to assist users to determine the ability of an enterprise to pay dividend out of operating c ash flows (para 34). Income tax: a. Taxes on income arise on a transaction that gives to the cash flows that are classified as operating, investing, and financing activities in cash flow statement. While tax expense may be readily identifiable with investing or financing activities, the related tax cash flows are often impracticable to identify and may arise in a different period from the cash flows of the underlying transactions. Therefore taxes paid are usually classified as cash flows from operating activities.However, often it is practicable to identify the tax cash flow within individual transaction that gives rise to cash flows that are classified as investing or financing activity as appropriate. When tax cash flows are allocated over more than one class of activity, the total amount of taxes paid is disclosed (Para 36). In the light of SFAS 95, â€Å"Transaction that enter into the determination of net income† are defined as operating activities and hence, interest re ceived or paid, dividend received and taxes on income are rigidly treated to arise from operating activities. Dividend to stakeholders are treated as cash outflows classified as financing activities (Keiso and Weygandt, 1998: 1275-76) Cash flow statement Practices in BangladeshRegulatory Framework, in the eyes of the Companies Act 1994 (Act no. 18 of 1994): According to Section 183 of the Companies’ Act 1994 (which came into effect from 1 January 1995), a company is required to present balance sheet, profit and loss account (income and expenditure account, in case of non profit companies). Under section 185, the balance sheet and the income statement have to be prepared according to the forms set out in Part –1 and Part –2 of Schedule XI respectively under which information on consecutive two years (concerned year and Cash Flow Statement Disclosures in Pharmaceutical Companies 217 preceding year) are to be provided.However according to note (g) of the general in struction for preparation of balance sheet (given in part –1 of schedule XI after the horizontal format of the balance sheet), â€Å"a statement of change in financial position shall be included as an integral part of the financial statements, and shall be presented for each period for which the profit and loss account is prepared†. However no specific format of cash flow statement has been prescribed in Companies Act 1994. In the light of the Security and Exchange Rule 1987 (S. R. O No. 237-l/87 dated on 28 September 1987): Under the provision of rule 12 (1) of the Securities and Exchanges Rules (SER) 1987(amended by the section notification No.SEC/ Section 7/SER/03/132 dated 22 october1997 published in the official gazette on 29 December 1997), the annual report to be furnished by an issuer of listed security shall include â€Å"a balance sheet, profit and loss account, cash flow statement and notes to the accounts collectively hereinafter referred to as the financi al statement’. In the part III of the Schedule of the SER 1987, issues relating to interest paid on short-term borrowing, interest and dividend received income taxes are clearly guidelined. For example, interest paid on short-term borrowing shall be a cash outflow under operating activities; ‘interest and dividend received’ shall be a cash inflow under investing activities. And ‘interest paid on long term borrowing’ and ‘dividend paid’ shall be a cash outflow under financing activities.Under paragraph 35-36, ‘taxes on income’ should be treated as operating cash outflow unless they can be identified in financing and investing activities. Findings of the study To know the extent of cash flows statement reporting practices by Pharmaceutical companies, a survey has been conducted covering twelve annual reports (2009) (For detailed the name of the companies see Appendix-1). The major findings of the study are given below in terms of general variations in reporting and voluntary disclosure. General findings It includes the current format and structure of cash flow statement and the extent of compliance of IAS-7, followed by sample Pharmaceutical Companies in Bangladesh. All the sample companies prepare cash flow statement as required by IAS-7/BAS 7 adopted by the Institute of Chartered Accountant of Bangladesh and present it as an integral part of the financial statements. Notes to cash flow statement have been presented as part of the financial statements in case of all the sample companies.  · The sample companies prepare cash flow statement in vertical form and shows figure of cash flows of the current year and the previous year.  · All the sample companies’ cash flow statement contains a classification of operational, investing, and financing activities.  · The sample companies did not illustrate the policy dopted in determining the formulation of cash and cash equivalents although this is r equired by paragraph 36 of IAS 7. 218 ASA University Review, Vol. 6 No. 2, July–December, 2012 Variation in Reporting Another objective of the survey was to determine which alternatives, permitted by IAS-7, are used most in practice by Bangladeshi pharmaceutical companies. It is found that there are not many differences between companies in their reporting of cash flow information. This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accounting treatments. The results are set out in table 1.Table-1 Variations in reporting [Cash flow statement (CFS)] Factors 1 Notes to CFS Options Separately, following the CFS Part of the notes to the financial statements Incorporated in the CFS Total Direct method Indirect method Total Operating activities or no interest Financing Investing activities Total Financing activities or no dividends Operating activities Investing activities Total Part of accounti ng policy note Nothing disclosed Total Operating activities or no tax Financing activities Investing activities Total Number of companies 0 12 0 12 12 0 12 12 0 0 12 12 0 0 12 12 0 12 12 0 0 12 2 Operating activities 3 Interest received and Interest paid 4 Dividend received and Dividend paid 5 Definition of cash and cash equivalents 6 Income tax Notes to table 1  · Refer to point 2 of Table 1.According to IAS-7 and SEC Rule 1987, the enterprises are encouraged to report cash flows from operating activities using the direct method. The direct method provides information which may be useful in estimating future cash flows which is not available under the indirect method. All the sample companies followed the direct method in reporting operating cash flows. One company (Pharmaceutical Mithun Knitting & Dyeing Ltd. ) discloses cash flows from operating activities under indirect method in notes of financial statements as additional information. Cash Flow Statement Disclosures in Pharma ceutical Companies  ·  · 219 Refer to points 3 & 4 of Table 1.All the companies studied have shown ‘interest received and paid’ under operating activities and ‘interest paid on long term borrowing’ and ‘dividend paid’ under financing activities. Refer to points 5 & 6 of Table 1. All the companies studied have shown â€Å"definition of cash and cash equivalents† in the notes of accounting policy and â€Å"income tax† under operating activities. Voluntary disclosure The survey also included an examination of any additional information that is disclosed regarding the company’s cash flow which is not required by IAS-7, but which may be helpful to the user. For example, separate disclosure of cash flows increases operating capacity and cash flows that maintain operating capacity, disclosure of segmental cash flows, cash flow per share etc.The survey found no company to disclose such additional voluntary information in its ca sh flow statement. Conclusion and Recommendation A materially misstated cash flow statement, whether it is in terms of incorrect classification in the categories or numerical accuracy, can be misleading to the user and can lead to wrong decisions taken by the users of the statement. The survey has revealed that although sample companies prepare cash flow statement according to International Accounting Standard-7 (BAS-7), there is also a degree of non-compliance. It is, however, found that there are not many differences between companies in their reporting of cash flow information.This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accounting treatments. To make cash flow statement more informative and useful for users, the companies should disclose additional voluntary information such as cash flow per share in their cash flow statements. Items consisting of cash flows from operating, investing a nd financing activities should also be clarified in the notes of the financial statements. Due to the limited scope of the present study, a large number of research issues have not been attempted but are identified in the course of the study.Disclosure practices of additional items other than operating, investing and financing activities, disclosure practices differences between listed and unlisted companies, disclosure practices differences between financial and other institutions are some such potential issues for future research. 220 ASA University Review, Vol. 6 No. 2, July–December, 2012 References Annual Reports of Sample Pharmaceutical Companies Listed in Dhaka Stock Exchange and Chittagong Stock Exchange 2009. Aziz Uddin, A. B. M and Bala. , S. K. ( 2001), â€Å"Cash Flow Reporting in Bangladesh†, The Cost & Management, Nov- Dec. ICMAB, p. 13. FASB Discussion Memorandum (1980), Reporting Funds Flow, Liquidity and Financial Flexibility, FASB, Stanford. Thomas H. Beechy. Joan E. D. Conrod, Intermediate Accounting, second Edition, Chpter 5, Exhibit 5-1 pp. 91 Ghosh, Santi N. (2001),â€Å"Workshop Material on IAS # 7 : Cash Flow Statements† compiled under the Institute of Chartered Accountants of Bangladesh (ICAB)Project, Development of Accounting and Auditing Standards in Bangladesh, The World Bank. Government of Bangladesh (GOB) (1994), The Companies Act 1994 (Act No. 18 of 1994). Gup, B. E. & Samson, W. D. 1993. An analysis of patterns from the statement of cash flows. Financial Practice & Education, 3(2):73-79. Hendrickson, Eldom. S(1982), Accounting Theory, Richard D. Irwin, Inc. , Illinois, p. 236. Hertenstein, J. & McKinnon, S. 1997. Solving the puzzle of the cash flow statement. Business Horizons, 40(1):69-76.International Accounting Standards Committee (IASC) (2000), International Accounting Standards 2000 International Accounting Standards Committee, London, â€Å"International Accounting Standard IAS 7 (revised 1992): Cash Flow Statements† in pp. 139165. International Federation of Accounting (IFAC) (1992), IFAC Handbook 1992: Technical Pronouncements (New York: IFAC). â€Å"IAS 7 (October 1977): Statement of Changes in Financial Position† in pp. 812- 816. Khan, M. H. & Akter, M. S. & Ghosh, S. K (2005), â€Å"Cash Flow Statement Disclosures: A Study of Banking Companies in Bangladesh†. Available at www. pcte. edu. in/site/OJMR/Finance/cashflow. pdf Keiso, Donald, E. and Jerry. J.Weygandt (1998), Intermediate Accounting, John Wiley & Sons, Inc. New York, 9th Edition, pp. 1275-76. Lee, T. A. 1982. Cash flow accounting and the allocation problem. Journal of Business Finance & Accounting, 9(3):341-352. Lee, T. A (1972), â€Å"A Case for Cash Flow Reporting†, Journal of Business Finance, Vol. 4, No. 2, pp. 27-36 as quoted in Studies of Accounting Theory, Steyn, B. W. & Hamman, W. D. 2003. Cash flow reporting: are listed companies complying with AC 118? Meditari, 11:167-180. Weyg andt, Kieso, Kimmel, Accounting Principles, 9th edition, John, Wilely and Sons, Inc, pp. 732-733 Wallace, R. S. O. and Choudhury, M. S. I. And Pendelbary, M. 1997), â€Å"Cash Flow Statements: An International Comparison of Regulatory Positions†, The International Journal of Accounting, Vol. 32, No, 1, pp. 1-22 Cash Flow Statement Disclosures in Pharmaceutical Companies 221 Appendix-1 List of the twelve Pharmaceutical companies studied. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. GlaxcoSmithKline Bangladesh Limited (2009) The IBN SINA Pharmaceutical Industry Ltd. (2009) BEXIMCO PHARMACEUTICAL LTD. (2009) ORION INFUSION LTD. (2009) ACI Formulation Limited (2009) Ambee Pharmaceutical Limited (2009) Square Pharmaceutical Ltd. (2009) Libra Infusions Limited (2009) BEACOM Pharmaceuticals Limited (2009) Rahman Chemicals Limited (2009) Renata Limited (2009) Therapeutics (Bangladesh) Limited (2009)

The Ethics of Selling Violent Video Games Research Paper Example

The Ethics of Selling Violent Video Games Research Paper Example The Ethics of Selling Violent Video Games Paper The Ethics of Selling Violent Video Games Paper Should Barry recommend that Take-Two go forward with the release of GTAG: Vice City? Yes, they should think deeply of the Impact that the game will game will have over the children who play It, not only the Impact the game will have over their company and also take Into account that many groups are already against them In the release of the game. 2. Given the contemplated video game is legal, is clearly marked as Mature for audiences over 17, and is targeted for audiences not particularly offended by the homes of GTAG: Vice City, is there an ethical issue of any kind in this case? Yes, because the game is already classified the game from 17 years up and is legal, so the choice of buying the game depends on the children who want it and of the parents who buy it to their kids. 3. Do video games producers bear any social responsibility whatsoever for the themes of gratuitous violence they reinforce or the messages they send about the treatment of women as sex objects? Yes completely, because they are transmitting to people who play their game Is that violence and women used as a sex object Is now a days normal and this will cause people to take that into reality. . If the answer of question 3 is yes, what steps do you recommend be taken to improve the current situation regarding the marketing of video games in the U. S. A? 1 . The government needs to be aware of what messages are video games are transmitting. 2. Video games producers need to take into account the damage that their video games will cause to their clients. 3. People need to take into account, hen b uying a video game, if they contain violence or sex. Firebombed Fitch 1. Is AF really using Quarterly to generate free publicly and to create a dimension of controversy and rebellion sometimes important to their youthful target market? Yes, AF is making teenagers to think of living life in another dimension and that is being rebellion, having sex, drink, use drugs, etc. They are making think teenagers that doing that stuff is normal. 2. If you were called in as an advisor to Jiffies, what would you tell him to do about he Quarterly? I will tell him to stop promoting AF through Quarterly because the magazine is classified as a dirty magazine and that is the image that AF is showing while promoting themselves through that Quarterly. 3. How does this case relate to the ethical theories/frameworks we have discussed? Companies will do anything to Increase their profits and become popular. AF Is causing a lot of controversy but in that way many people is getting to know AF and Is a way to call ten attention.

Wilhelm Reich and the Orgone Accumulator

Wilhelm Reich and the Orgone Accumulator Warning: misuse of the Orgone Accumulator may lead to symptoms of orgone overdose. Leave the vicinity of the accumulator and call the Doctor immediately! That would be the controversial Doctor Wilhelm Reich, father of orgone energy (also known as chi or ​life energy) and the science of ​orgonomy. Wilhelm Reich developed a metal-lined device named the Orgone Accumulator, believing that the box trapped orgone energy that he could harness in groundbreaking approaches towards psychiatry, medicine, the social sciences, biology and weather research. Discovery of Orgone Energy Wilhelm Reichs discovery of orgone began with his research of a physical bio-energy basis for Sigmund Freuds theories of neurosis in humans. Wilhelm Reich believed that traumatic experiences blocked the natural flow of life-energy in the body, leading to physical and mental disease. Wilhelm Reich concluded that the libidinal-energy that Freud discussed was the primordial-energy of life itself, connected to more than just sexuality. Orgone was everywhere and Reich measured this energy-in-motion over the surface of the earth. He even determined that its motion affected weather formation. Orgone Accumulator In 1940, Wilhelm Reich constructed the first device to accumulate orgone energy: a six-sided box constructed of alternating layers of organic materials (to attract the energy) and metallic materials (to radiate the energy toward the center of the box). Patients would sit inside the accumulator and absorb orgone energy through their skin and lungs. The accumulator had a healthy effect on blood and body tissue by improving the flow of life-energy and by releasing energy-blocks. The New Cult of Sex and Anarchy Not everyone liked the theories Wilhelm Reich suggested. Wilhelm Reichs work with cancer patients and the Orgone Accumulators received two very negative press articles. Journalist Mildred Brandy wrote both The New Cult of Sex and Anarchy and The Strange Case of Wilhelm Reich. Soon after their publication, the Federal Drug Administration (FDA) sent agent Charles Wood to investigate Wilhelm Reich and Reichs research center, Orgonon. Troubles with the U.S. Food and Drug Administration In 1954, the FDA issued a complaint for an injunction against Reich, charging that he had violated the Food, Drug, and Cosmetic Act by delivering misbranded and adulterated devices in interstate commerce and by making false and misleading claims. The FDA called the accumulators a sham and orgone-energy nonexistent. A judge issued an injunction that ordered all accumulators rented or owned by Reich and those working with him destroyed and all labeling referring to orgone-energy destroyed. Reich did not appear in person at the court proceedings, defending himself by letter. Two years later, Wilhelm Reich was in jail for contempt of the injunction, the conviction based on the actions of an associate who did not obey the injunction and still possessed an accumulator. Death On November 3, 1957, Wilhelm Reich died in his jail cell of heart failure. In his last will and testament, Wilhelm Reich ordered that his works be sealed for fifty years, in hopes that the world would someday be a place better to accept his wondrous machines. FBI Opinion Yes, the FBI does have a whole section on their website dedicated to Wilhelm Reich. This is what they had to say: This German immigrant described himself as the Associate Professor of Medical Psychology, Director of the Orgone Institute, President and research physician of the Wilhelm Reich Foundation, and discoverer of biological or life energy. A 1940 security investigation was begun to determine the extent of Reichs communist commitments. In 1947, a security investigation concluded that neither the Orgone Project nor any of its staff were engaged in subversive activities or were in violation of any statue within the jurisdiction of the FBI. In 1954 the U.S. Attorney General filed a complaint seeking permanent injunction to prevent interstate shipment of devices and literature distributed by Dr. Reichs group. That same year, Dr. Reich was arrested for a Contempt of Court for violation of the Attorney Generals injunction.

Project Management Essay Example | Topics and Well Written Essays - 2500 words - 2

Project Management - Essay Example Moreover, these activities are assumed to accomplish, their objectives within financial constraints as well. In the light of above discussion the projects are conceived to attain the certain goal or set of goals in a given time frame, therefore it could be established, that the time is the most important feature of these activities. Generally, the resources are deployed in an organization to carry out its normal functions, but the nature of a firm is pretty much stable, as compared to that of a project. This fact places a premium on the timely execution of the projects. The project could also be defined, a set of interconnected tasks, which should be completed to execute, the entire project (Blackstone, Cox, & Schleier 2009). However, this observation leads to the implication of interdependence of one task on to the completion of another one. This interconnectivity compels the project management to hire experts of every area affected by the project. Next, this paper will shed some li ght on the interesting facts, about the revolution of project management as a science, which are as follows The process of project costing got better, because the cost overruns dropped from 180% to just 56%, in past ten years (Blackstone, Cox, & Schleier 2009) The time overruns are also decreased from 164% to 84% in the same period of time (Blackstone, Cox, & Schleier 2009) These improvements are caused, by the excessive utilization of information technology, to integrate the decision process, between various people working on the project. However management information systems helped a lot in terms of effective and efficient project execution, but they by themselves are the most difficult ones to manage. The case of NHS IT program is a real world example. The major purpose of projects is to create something new, such as new product development. Therefore, they carry a higher level of risk, which requires an able management team that was lacking in the NHS project. The projects are believed to be the only credible source of development in the dynamic world of management, because they provide, the opportunity to the business persons around the world to experiment with something new (Zdanyte & Neverauskas 2011). However the rate of failures among these activities is overwhelmingly high. This fact is partially caused by the inadequate level of knowledge about this particular field among practitioners. This trend also played a significant role in making the IT project of NHS a failure, where the large level execution was attempted without any prior planning. The modern method of project management entails, dividing a whole project into smaller ones, and then considering each one separately (Gorog 2011). In this way the commitment of resources is well divided among the various stages of the project, so it becomes relatively simple to track the investments. Another benefit of this approach is the clear and logical interdependence between the different phases of the project gets highlighted, which gives clear sense of direction to those working on it. This above mentioned approach was the ideal one to implement on the venture