The Lands of Bolivar Essay Example | Topics and Well Written Essays - 250 words

The Lands of Bolivar - Essay Example The Latin American governments including Columbia have been strongly pressured by the U.S to enhance their drug management efforts. Strained diplomatic ties resulted in the process. This paper examines the role of the United States in the drug issues that are facing Columbia. It also looks at the militarization of the drug control efforts that have been put in effect by the United States and the effects that such programs are likely to have on Columbia. During the reign of Reagan in the United states administration, the war against drugs gained it momentum. Political pressure for drug eradication was mounting in Columbia. Decriminalization and the legalization movements were marginalized by a tough approach to the war on drugs. It became apparent that this war will be militarized. The speech that was delivered by Reagan in 1982 focused on drug prohibition and eradication. In addition to that, the major of the United States war on drugs as put into practice in Columbia included eradication projects through crop substitution strategies and the prohibition of the trafficking routes. It is worth noting that though much of the efforts were militarized, the objectives in Columbia were believed to be counter narcotics. The prospect of maintaining this distinction was critical in upholding the support of public wary of a possible involvement of the U.S in a counter revolution that could ‘Vietnamize’ the overall state of affairs in Columbia. The effectiveness of the US in this situation can attributed to the fact that there was a reduction in the amount of drugs entering the United States and a subsequent growth of a drug-free economy. With better economic opportunities at stake, the farmers in Columbia could grow nutritious food crops rather than the drugs. Additionally, with drug elimination the country has a lot to offer which includes

What could be the expected positive and negative effects of European Essay

What could be the expected positive and negative effects of European Monetary Union on a member country's economy - Essay Example The European Monetary Union (EMU) has been such framework. However, the challenges related to the particular plan have been many. In practice, persuading the member states to align their fiscal and economic policies has been proved a challenging task. The gradual implementation of EMU across member states has been considered as a strategy for controlling risks related to this initiative. The incorporation of ‘the principle of freedom of capital movement in the Treaty for the European Union’, in 1993, has been the starting point of EMU. At the next level, two important activities had to be performed for promoting EMU: ‘the introduction of the legislation related to EMU in all member states and the introduction of the common currency, the euro’. These activities that lasted from 1994 to 1998 have been incorporated in the second phase of EMU’s implementation. From January 1999 the third phase of this plan has started; this phase involves in the replaceme nt of national currencies of member states by euro. In practice, it has been proved that EMU can result to both positive and negative effects for member states. The particular issue is explored in this paper. Reference is made to UK and Spain, as examples, for showing the positive and negative effects of EMU both for countries within the euro zone and for those that are outside the euro zone. In this way also, the potential implications of the entry of a member state in Euro zone are made clear. 2. Which could be the expected positive and negative effects of European Monetary Union on a member country's economy? The participation of countries in a monetary union has been related to a series of benefits. For the member states that participate in EMU these benefits would be also available. According to Albertin (2008) one of the most important benefits of participating in a monetary union is ‘the significant increase of bilateral trade between the countries that have joined such union’ (Albertin 2008, p.3). It is not made clear though whether this benefit can continue in the long term or whether it is related only to the initial period of a country’s entrance in a moneta ry union. On the other hand, a monetary union can protect its members against strong market turbulences. Indeed, during strong financial crises the countries that are members of a monetary union can easier keep their economy stabilized at the level that their interest rates are not highly affected by the crisis, at least not so high as the rates of the countries that do not participate on monetary unions (Farina and Tamborini 2008, p.152). The recent financial crisis can be considered as an indicative example of the above case; the countries that are members of EMU have managed to protect their economy from extensive losses, mostly because they have been under the protection of EMU (Tausch and Heshmati 2012). The fact that not all members of EMU have managed to secure their economy against the global crisis is not related solely to their participation in EMU but it has been also related to their existing fiscal and social policies (Tausch and Heshmati 2012). In any case, the potenti als of a monetary union ‘to protect its members against asymmetric shocks’ (De Grauwe 2012, p.27) seem to be high. Another important benefit of monetary unions is

The International Accounting Standards Board Structure

The International Accounting Standards Board Structure There is overwhelming demand for high quality accounting standards that are internationally accepted. It is of the utmost importance that the IASB delivers these as quickly as possible. Required: a) Outline the current structure of the IASB, highlighting the major influences and controls on it. (30%) b) Explain the main advantages of high quality, internationally accepted accounting standards and the main challenges the IASB faces in developing them. (50%) c) Comment on the quotation above and give a conclusion on its validity. (20%) ANSWER a) The International Accounting Standards Board (hereafter â€Å"IASB†)[1] replaced the International Accounting Standards Committee on April 1 2001. This represented the culmination of a restructuring project based on the recommendations of the report Recommendations on Shaping IASC for the Future.[2] The IASB, which is based in London, is constituted by fourteen board members drawn from nine different countries, of whom twelve are full-time and 3 are part-time. The composition of the membership is as follows: a minimum of five former auditors, three former users of accounts, three former preparers of accounts, and one academic. The remaining two can be drawn from any of these backgrounds or from a different background. The IASB is entrusted with the responsibility to establish International Financial Reporting Standards (IFRS) and its goal is to create conformity and compatibility around the world.[3] Its mission statement is to provide â€Å"high quality, understandable and enforceable global accounting standards†[4]. This is a substantial task, given that the accounting principles generally accepted in each individual country can in practice differ significantly between national jurisdictions. The IASB is organised on the following lines. Its parental body, the IASC Foundation is an independent entity having two main arms, namely, the Trustees and the IASB, and in addition it incorporates the International Financial Reporting Interpretations Committee and a Standards Advisory Council. The 22 Foundation Trustees of the IASC are empowered to appoint members to the IASB, to exercise general oversight and administrative and managerial supervision, and to generate the funds needed to finance the operation. However it should be stressed that the IASB has sole and exclusive responsibility for establishing accounting standards. The focus of the IASB is on the pursuit of a rolling work plan. The work plan is determined and updated at regular IASB meetings and reflects the objectives and broad timetable of the Memorandum of Understanding[5] between the IASB and the US Financial Accounting Standards Board (hereafter â€Å"FASB†) which lays down the so-called Roadmap for Convergence between IFRSs and US GAAP between 2006 and 2008.[6] The Memorandum of Understanding establishes goals that the IASB and FASB have agreed to achieve so as to facilitate the convergence of accounting standard-setting.[7] The long-term strategic priority of both the IASB and FASB remains the establishment of a common set of high quality global standards. b) The overarching goal of the IASB is the creation and maintenance of a set of understandable, enforceable and effective accounting standards for consistent application around the world. The object of this exercise is to attempt to guarantee both equivalence and transparency in certain universal financial statements compiled in different national jurisdictions across the globe by engineering a commensurate and smooth convergence of previously diverse national standards of accounting reporting..[8] It is manifest that the achievement of such an end would facilitate international business and investment, reduce commercial risk and increase transparency, and improve the general quality of financial reporting around the world. The IASB has resolved that if consistently reliable and effective financial reporting infrastructure is to be established it must both embody and reflect four essential characteristics:[9] 1. It is deemed essential that settled accounting standards are consistent, comprehensive and founded on a transparent set of general principles which strive to guarantee that financial reports fairly and accurately reflect all background and underlying financial realities. 2. Functional mechanisms must be put in place to ensure the adoption of efficient and effective corporate governance practices, and that in turn these should incorporate a condition for strict systems of internal control which serve to apply common accounting standards. 3. Auditing practices must be established in which the diverse users and prepares of accounts in the outside world can invest confidence and trust, and which categorically establish that undertakings produce reports which represent a true and fair view of their economic performance and overall financial state. 4. It is necessary to implement a cogent surveillance and enforcement regime which ensures that the fundamental rules and principles as determined by the universally prevailing auditing and accounting standards are both respected and applied.. The Framework for the Preparation and Presentation of Financial Statements[10] was published by the IASB’s predecessor, the International Accounting Standards Committee in 1989. Popularly known as the Conceptual Framework, this document lays down the essential concepts to be adhered to in the production of financial statements for external appraisal and usage. The Framework deals with such matters as: qualitative characteristics of financial information; fundamental assumptions; objectives of financial statements; elements of financial statements; core components of financial statements; measurement of the items of financial statements; capital maintenance issues.[11] That said, it is worth emphasising that the Conceptual Framework is not accorded the full status of an accounting standard. The same can be said of the Statement of Principles of the UK Accounting Standards Board. This obviously constitutes a practical challenge because it renders application less certain and can result in a dilution of the principles it endeavours to entrench. Despite this difficulty, the Framework guides the current work of the IASB in its development of contemplated International Financial Reporting Standards and it influences the IASB’s rolling review of established International Accounting Standards.. It is submitted that this modus operandi should encourage the harmonisation of accounting standards, and hone those procedures and regulations relevant to the presentation and substance of financial statements by setting down an underlying conceptual rationale for reducing the number of different accounting treatments allowed under international standards. The IASB faces a huge challenge in catering for the all the different classes of users of financial statements, who may seek to use those financial statements for a wide number of purposes. Given that users may include classes as diverse as, suppliers, lenders, trade creditors, investors (current and potential), employees, customers (current and potential), the general public and Government agencies, it is clear that the IASB has to take a vast array of different and sometimes competing interests into account in determining the appropriate rules of accounting.[12] c) It is very hard to argue with the quote under review, because there is manifestly considerable demand among, in particular accounts users, who rely upon accounts to guide a multiplicity of business and investment decisions, for high quality accounting standards that are both internationally accepted and respected and universally applied. Given that unarguable truth the second part of the quote is also clearly well founded. Of course it would be desirable to deliver improvements to accounting standards as soon as possible. This commentator can conceive of no reason to delay the introduction of what would represent a significant improvement in conditions of finance and trade, in particular given the increasing globalisation of business and commerce and the relative growth in the number of international transactions as opposed to national transactions with each passing year. In simple words, business is becoming ever more global and accounting standards must consolidate to reflect t hat new environment and practice. The demand and determination to achieve high quality and internationally accepted accounting standards is perhaps best evidenced by the focused cooperation between accounting standard setting bodies witnessed in recent years. In 2004 the IASB started work on a project in partnership with the US FASB which is aimed at the development of a so-called common conceptual framework, in the hope of that such would facilitate the convergence and refinement of the existing frameworks of both accounting standards Boards.[13] Demand for tighter and more consistent accounting standards has also been fuelled by analysis of the high profile corporate collapses of companies like Enron and WorldCom in recent years.[14] Accountants were widely criticised for auditing errors in these cases, which have already proved the catalysts for a raft of new corporate governance regulations.. These huge corporate collapses and others of their ilk have not only given rise to increased demand for accounting standard improvement and consolidation but also underline the very real need for concerted action in this field. In sum, it is submitted that the quote under review is well founded in both its primary assertions.. THE END WORD COUNT: 1574 (excluding footnotes) BIBLIOGRAPHY Recommendations on Shaping IASC for the Future: A Report of the International Accounting Standards Committee’s Strategy Working Party, Recommendations to the IASC Board, 30 November 1999: http://www.iasb.org/uploaded_files/documents/8_210_swp_rep.pdf Mirza and Epstein, IFRS: Interpretation and Application of International Accounting Standards, (2006) Wiley Horngren, â€Å"Uses and Limitations of a Conceptual Framework,† Journal of Accountancy, April 1981 Framework for the Preparation and Presentation of Financial Statements, http://www.iasplus.com/standard/framewk.htm. Alfredson et al., Applying International Accounting Standards, (2005) Wiley. Lewis and Pendrill, Advanced Financial Accounting, (2004) Prentice Hall International Accounting Standards Board website: http://www.iasb.org/Home.htm Inman, UK accounting firms enjoy  £1bn bonanza in wake of Enron, The Guardian, 28 June 2006. Memorandum of Understanding between the FASB and the IASB 27 February 2006: http://www.iasb..co.uk/. The IASB Conceptual Framework An Introduction, Dr Philip Dunn, AccountingWeb, 9 May 2005: http://www..accountingweb.co.uk/cgi-bin/item.cgi?id=140805d=448h=0f=0. International Accounting Standards Committee (IASC) (1998); â€Å"Shaping IASC for the Future†, Discussion Paper, December, 1998 1 Footnotes [1] The non-profit organisation IASC Foundation, incorporated in March 2001 in Delaware, US is the parental body of the IASB. [2] Recommendations on Shaping IASC for the Future: A Report of the International Accounting Standards Committee’s Strategy Working Party, Recommendations to the IASC Board, 30 November 1999: http://www.iasb.org/uploaded_files/documents/8_210_swp_rep.pdf. And see: International Accounting Standards Committee (IASC) (1998); â€Å"Shaping IASC for the Future†, Discussion Paper, December, 1998. [3] For an insightful overview see: Alfredson et al., Applying International Accounting Standards, (2005) Wiley. [4] See: http://www.iasb.org/Home.htm. [5] Memorandum of Understanding between the FASB and the IASB 27 February 2006: http://www.iasb.co.uk/. [6] See: http://www.iasb.co.uk/. [7] This is an integral part of the process towards removal of the duty owed by foreign registrants with the SEC to converge their financial statements to the US GAAP model. [8] See for general background and insightful comment: Lewis, R. and Pendrill, D. 2004 Advanced Financial Accounting 7th edition. [9] Statement of Sir David Tweedie, Chairman of the IASB, Before the Committee on Banking, Housing and Urban Affairs of the United States Senate, Washington DC, 9 September 2004: http://www.iasb.org/uploaded_files/documents/8_129_040909-dpt.pdf. [10] See: Framework for the Preparation and Presentation of Financial Statements, http://www.iasplus.com/standard/framewk.htm. [11] The IASB Conceptual Framework An Introduction, Dr Philip Dunn, AccountingWeb, 9 May 2005: http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=140805d=448h=0f=0. [12] Horngren, Charles T., â€Å"Uses and Limitations of a Conceptual Framework,† Journal of Accountancy, April 1981, p. 90. [13] See: http://www.iasb.org/current/active_projects.asp?showPageContent=noxml=16_107_116_30112004.htm [14] Inman, UK accounting firms enjoy  £1bn bonanza in wake of Enron, The Guardian, 28 June 2006.

Free Oedipus the King Essays: Oedipus as the Hero Archetype :: Oedipus the King Oedipus Rex

Oedipus as the Hero Archetype  Ã‚   The character Oedipus in Sophocles' Oedipus the King follows a literary pattern known as the hero archetype. The hero archetype is a pattern involved with transformation and redemption. Manifest in three stages called the quest, the initiation, and the sacrifice, Oedipus is transformed from the redeemer of the city to the cause of its downfall. These three stages are clearly revealed and although they are separate entities, each intertwine. Prior to the opening of the story Oedipus begins the first stage, known as the quest. Oedipus learns from the oracle at Delphi that it is in his fate to kill his father and to marry his mother. To avoid this fate he leaves the only family and home he has ever known. He travels far and arrives at Thebes during a time of great turmoil, the city's men are being devoured by a sphinx who requires a riddle to be solved. Oedipus saves the city by answering this riddle. Twenty years later we enter the story and find the city under the cloud of a plague. Apollo's oracle has decreed the only way to end the plague is to seek out the murderer of the predecessor to the throne, Laius. Oedipus swears to find this murderer and cause of the pestilence in order to save his city. Oedipus enters the separation part of the second stage, the initiation, when the blind "seer" Tiresias charges that Oedipus himself is the cause of the pestilence. Oedipus goes through denial and then separates from himself through self-examination. Although warned to refrain from the search by his wife/mother, Jocasta, Oedipus continues to seek out the truth. This truth seeking leads to the transformation where Oedipus realizes that he is responsible. He had killed his father (although at the time he did not know Laius was his father) and married his mother (he did not know this either),thereby causing the plague. This realization was too much for Jocasta to bear and so she committed suicide. At the sight of this event, Oedipus feels immediate and unbearable guilt and blinds himself to the evils he has caused. At this point Oedipus enters the return phase of the initiation and realizes that he must live up to his own decree and banish himself from the city in order to save his peopl e. The third stage, the sacrifice, is symbolized by Oedipus removing himself from the city. Free Oedipus the King Essays: Oedipus as the Hero Archetype :: Oedipus the King Oedipus Rex Oedipus as the Hero Archetype  Ã‚   The character Oedipus in Sophocles' Oedipus the King follows a literary pattern known as the hero archetype. The hero archetype is a pattern involved with transformation and redemption. Manifest in three stages called the quest, the initiation, and the sacrifice, Oedipus is transformed from the redeemer of the city to the cause of its downfall. These three stages are clearly revealed and although they are separate entities, each intertwine. Prior to the opening of the story Oedipus begins the first stage, known as the quest. Oedipus learns from the oracle at Delphi that it is in his fate to kill his father and to marry his mother. To avoid this fate he leaves the only family and home he has ever known. He travels far and arrives at Thebes during a time of great turmoil, the city's men are being devoured by a sphinx who requires a riddle to be solved. Oedipus saves the city by answering this riddle. Twenty years later we enter the story and find the city under the cloud of a plague. Apollo's oracle has decreed the only way to end the plague is to seek out the murderer of the predecessor to the throne, Laius. Oedipus swears to find this murderer and cause of the pestilence in order to save his city. Oedipus enters the separation part of the second stage, the initiation, when the blind "seer" Tiresias charges that Oedipus himself is the cause of the pestilence. Oedipus goes through denial and then separates from himself through self-examination. Although warned to refrain from the search by his wife/mother, Jocasta, Oedipus continues to seek out the truth. This truth seeking leads to the transformation where Oedipus realizes that he is responsible. He had killed his father (although at the time he did not know Laius was his father) and married his mother (he did not know this either),thereby causing the plague. This realization was too much for Jocasta to bear and so she committed suicide. At the sight of this event, Oedipus feels immediate and unbearable guilt and blinds himself to the evils he has caused. At this point Oedipus enters the return phase of the initiation and realizes that he must live up to his own decree and banish himself from the city in order to save his peopl e. The third stage, the sacrifice, is symbolized by Oedipus removing himself from the city.

Brand Extension Essay

Brand extension is a marketing strategy according to which a company marketing a product or a service launches a new offering (product or service) that is related to the one of the existing brands of the company, but offers different benefits and/or targets a different segment. Organizations use this strategy to increase and leverage upon their brand equity. When a firm is introducing a new product, it has the following 3 choices on branding: 1. Developing a new brand for the new product 2. Using the existing brand for the new product 3. Combining the new brand and the existing brand The use of 2nd and 3rd strategy is referred to as brand extension. Brands may be classified as one of the following: Parent Brand: If an existing brand gives birth to a brand extension, it is referred to as parent brand. Sub Brand: When a new brand is combined with an existing brand, it is called as sub brand. Family Brand: If a parent brand has links with multiple brands through brand extensions then it is called as family brand. Brand Extension Dimensions There are a large number of ways in which brand extension can be accomplished. One of the vital differences is if the extension is in the same or different category of the product. Thus they can be classified as: vertical or horizontal extensions. Vertical extensions Vertical extensions refer to the introduction of a related brand in the same product category but having a different price and quality balance. Vertical extensions offer the firm a quickest way to leverage upon the core product’s equity. As an extension strategy, vertical extension is widely practiced in many industries. For example, within automobile industry, the various brand models attempt to offer different price-quality bundles to attract various market segments. Often a product is extended in an attempt to just gain more of the market share. Vertical extension direction New product introductions using vertical extensions can extend in 2 directions, upscale and downscale vertical extensions. The vertical brand extension is that type of new product introduction that seems to be carrying less risk and seemingly having more appeal to management. The new product which is being introduced is in the same category as the parent product; aims at a same market segment as the parent, and may or may not enjoy the same acceptance as the parent. Upscale vertical extensions Upscale extensions involve a new product introduction by the firm with higher price & quality characteristics than the original product. Downscale vertical extensions It involves a new product introduction with lower price & quality characteristics than the original. Downscale vertical extensions may target sampling to a new segment, and bring some gain in market share. Horizontal extensions Generally, horizontal brand extensions either use or extend an existing product’s name to a new product in the same product category or to a product category new to the organization. There are 2 types of horizontal extensions which differ in terms of their focus area. They are termed as line extensions and category extensions. Line Extensions All the customers differ in terms of their usage needs. The brand has to fill the market with variety of products as per the needs of the segments. If a parent brand is used to brand a new product that targets a new segment in the market within the same product category that was previously served by the parent brand, it is called as line extension. Line extension leads to the addition of a new and distinct flavour or ingredient to the category. It sometimes might also lead to a new application for the brand or an introduction of a different form or size. For example, Bisleri is the pioneering brand in category of mineral water. Originally, Bisleri started off with 1 ltr bottle. But recently, the brand has launched bottles of different sizes and quantities.

MV Tampa

The incident in the MV Tampa refugee situation was a clear international concern. The actions undertaken by the Australian government seemed to be at a critical standpoint since it did not oblige with the international ruling agreements when it comes to refugees and ships in distress. It was very obvious that the MV Tampa was not at a very good condition to further reconstruct its mission to safely manage the refugees. But looking at the principles implemented by Australia may provide another perspective. In terms of the UDHR’s principal accord to provide universal human rights directives, it is still very possible to let it constitute rules that can be followed by the international community. However, depending on the situation and the decision of the government involved in a case, these rulings may be voided if the sovereignty of the nation is compromised. This clearly was the concern for Australia as it evaluated the refugees in the MV Tampa to be at a level of threat especially in concerns like overloading, sanitation, health issues and possible other secondary intentions like human trafficking and smuggling. With respect to Australia, it may be more important for the nation to consider its citizen’s human rights than those of the refugees. Of course, not everyone, especially those in the Human Rights paradigm will accept this. But the mere fact that the international community is hounded by nightmares of terrorist acts, severe health pandemic concerns and political dilemmas could just be good grounds for Australia to first protect its citizens than any one else in the world. The issues of the MV Tampa have lead to some extent of negative impression in the international community. Some global entities are not truly happy with how the government handled the situation denouncing that it violated the main aspect of universal human rights especially in a case when the victims are in distress. Of course, there are two forms of legal relevance for such a concern on the part of Australia, the domestic and the international law. However, it cannot be denied that Australia needs to first attend to its domestic directives before it can manage to comply with the international rulings (Kampmark, 2002). References Kampmark, B. 2002. Was it legal? The Howard Government’s handling of MV Tampa. The National Forum. Retrieved April 4, 2008 from http://www.onlineopinion.com.au/view.asp?article=1588.