The Evolution of Indian Accounting Standards: Its History and Current Status with Regard to International Financial Reporting Standards

1. Introduction Propelled by globalization, world attention today is centered on two emerging market economies, India and China. China's managed liberalization has allowed it to achieve more rapid growth and has attracted a larger portion of direct foreign investment. India, with its messy democracy and nod to individualism in recent times promises a more exciting market environment with greater potential for future growth. The liberalization of the Indian economy since 1991 has exposed Indian firms to foreign competition and foreign investment. As a result, the information needs required by both managers and investors have changed. A first step in this process is the demand for transparency in the financial reporting. This transparency is rapidly occurring in India as the country catapults into becoming a major economic power propelled on by the combined forces of the technological revolution, the opening up of its borders and the privatization of many infrastructure industries such as transportation and communication. This paper addresses the adoption and applicability of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) to India. 3 Specifically, the paper highlights some major areas where the country lacked harmonization with IAS in 1993 and the rapid congruence with IAS in the decade that followed. The attempt to achieve congruence with IAS appears to be more a by-product of the country's rapid economic growth rather than its catalyst. However, continued growth and the attraction of foreign capital to domestic ventures will depend on the transparency of the financial dealings. The Institute of the Chartered Accountants of India, (ICAI), India's standard setting body, is increasingly attempting to provide this transparency by revisions and additions to accounting standards, and by Exposure Drafts which aim to bring India more in line with International Financial Reporting Standards. The focus of this paper is on the evolution of these Indian Accounting Standards. 2. Literature review In order to effectively review the literature with regards to harmonization of accounting standards in general, it is deemed appropriate to first examine the International Accounting Standards Board's (IASB) position, reasons for harmonization, and recent efforts towards this goal. Epstein and Mirza (1997) define the IASB's goals as first, to promote the acceptance of proposed accounting standards across the world; and second, to continue improvement in the harmonization of accounting standards, regulations, and procedures. As of 1990, sixteen countries had achieved 100% conformance with the thirty IAS that existed at the time, and seven developing countries such as Pakistan and Malaysia had adopted IAS fully as their own national standards (Gernon, Purvis, & Diamond, 1990). As of October 2007, a total of seventy-three countries have made IFRS a requirement for reporting for domestic listed companies. Despite this seemingly widespread acceptance, some research suspects the irrelevance or inapplicability of common standards in certain national environments ([Larson and Kenny, 1996], [Larson and Kenny, 1995, Summer] and [Fechner and Kilgore, 1994]). Based on their research, Larson and Kenny (1996) conclude that the adoption of IAS depend on a country's economic development theory, and its proposed level of adoption of the IAS. They also find no support for the hypothesis that there is a positive correlation between adoption of IAS and level of economic growth, and between adoption of IAS and level of equity market development (Larson & Kenny, 1995). In a panel discussion of policy setters concerning harmonization of accounting standards in 1990, several panel members noted that harmonization of accounting standards may not be appropriate or cost effective. They suggested large, multinational companies around the globe had the abilities and the funds to cope with lack of harmonization. As a result, they perceived a lack of incentive for preparers and users to harmonize accounting standards (Gernon et al. , 1990). The largest obstacle hindering the harmonization of accounting standards is national culture, especially in developing countries. Riahi-Belkaoui (1995) researched the required accounting standards across thirty-three national stock exchanges and found that accounting disclosure is significantly affected by the cultural dimensions of power distance, individualism, and uncertainty avoidance studied by Geert Hofstede. In particular, Riahi-Belkaoui (1995) found that in â€Å"societies in which people accept a hierarchical order in which everyone occupies a place that needs no justification†¦Ã¢â‚¬  people are â€Å"expected to take care of themselves and their immediate families only†¦. As a result, these societies are â€Å"tolerant of ambiguity and have strong conditions for extended disclosure requirements of stock exchanges† (p. 124). Hence, disclosure requirements of stock exchanges of certain developing nations were more extensive than that nation's general financial reporting standards. This is a major point in the case of India, whose stock exchange, for example, required a statement of c ash flows long before its general standard – setting body did in 2000. Also, since 2002, consolidated financial statements have been required by the Securities Exchange Board of India, while the Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) only provides some loose guidelines to date (Deloitte, 2007). Along this same vein, other researchers suggest the influence of many external factors on the development of accounting standards such as cultural factors, the external environment, and the institutional structure ([Fechner and Kilgore, 1994] and [Doupnik and Salter, 1995]). According to this research, these varying effects on accounting standard – setting are significant, and along with varying legal systems, are found to be major determinants which cause conflict in setting accounting standards (Doupnik & Salter, 1995). Fechner and Kilgore (1994) have proposed a modified general framework to assess the extent to which economic factors, cultural factors, and the accounting subculture (uniformity, professionalism, conservatism, and secrecy), directly or indirectly affect accounting practice. In spite of opinions, conflicts and hindrances to the contrary, there is abundant support in favor of international accounting harmonization and for the adoption of IAS in the literature ([Epstein and Mirza, 1997], [Graham and Wang, 1995], [Wyatt, 1992, Spring] and [Gernon et al. , 1990]). For example, Gernon et al. (1990) point out that the benefits of harmonization range from better decision making within a firm with respect to asset allocation, to improving the efficiency of capital markets, and increasing competitiveness among firms within and across national boundaries irrespective of a country's stage of development. Complementing this argument, Riahi-Belkaoui (1994), notes that accounting standard harmonization is crucial to a developing country which needs outside capital or foreign loans as potential investors and creditors often rely on these financial statements in making decisions such as allocation of capital. Furthermore, he points out that harmonization is often mistaken for â€Å"complete standardization† (1994) whereas harmonization recognizes the specific needs of each country. Therefore, he suggests the first step in harmonization should be to recognize certain country – specific issues, and to reconcile them with the objectives of other countries. The second step should be then to â€Å"correct or eliminate some of these barriers in order to achieve an acceptable degree of harmonization. † As a starting point, the evolution of the Indian accounting system is investigated and the various domestic influences, such as economic, political, legal, socio-cultural and academic factors, are considered along with international influences that may have had an impact. Secondly, the bare essentials of the Indian accounting system are juxtaposed with the international standards and a compare and contrast approach is adopted for the purpose of analysis. Thirdly, the major differences with respect to accounting treatment – statutory requirements for certain items and altogether absence of these requirements for other items – are highlighted, along with the degree of disclosure of information in financial reports. Finally, an attempt is made to identify various causes and effects of such differences and variations. 3. The historical development of Indian accounting standards The evolution of India's present day accounting system can be traced back to as early as the sixteenth century with India's trade links to Europe and central Asia through the historic silk route. The subsequent entry of the East India Company had widespread influence on Indian trade and commerce, and soon the economy was virtually taken over by the company's owners. The British government, realizing immense potential by way of business opportunities, natural resources and manpower, decided to colonize India by taking over the East India Company. The British Raj (rule) explains the almost identical pattern of accounting and financial reporting practices between India and England (Marston, 1986). However, since 1947, when India regained independence, some changes have taken place to accommodate the special needs of the Indian economy. Indian accounting practices reflect its diversity as India has eighteen official languages and scores of dialects spread over twenty – eight states and seven union territories. Each state has its own distinct culture and general trade practices. Furthermore, the accounting practices of the unorganized rural/agricultural sector and the small-scale–urban–industrial sector vary considerably from one region to another. The establishment of a certain uniformity in the accounting and trade practices for these sectors is, therefore, nearly impossible. Moreover, a large number of businesses are controlled by tightly knit conservative families and the management of such businesses is usually very reluctant to disclose any financial information for reasons of privacy and fear of competitors. 4 A vast majority of the Indian population lives in the rural area, with very low levels of education and economic development. The primary source of income for this majority is through agriculture, although virtually no agricultural accounting system exists. Due to the linguistic and intra-cultural differences, it is also not possible to bring about a standardization in rural accounting practices. Changes to this scenario began to occur with the introduction of the Panchayati system or the grass roots level of administration by the late Prime Minister, Rajiv Gandhi. This program empowers the Village Chief with political and financial administration within the boundaries of the Indian Constitution, and has been fairly successful in that it has made a substantial dent on the existing sluggishness in the underground economy. In sharp contrast, India is one of the world's largest industrial nations in the world, a military superpower in its own right, and a world leader in space research and satellite technology. A jolt to the Indian economy occurred in 1991, when India strained for foreign reserves and pressure from the International Monetary Fund, (IMF) introduced major changes in economic policy. The net result was a substantial reduction in government interference and in taxes on the business sector, long favored by then Finance Minister (now Prime Minister) Manmohan Singh. Markets were opened up to foreign collaboration and investment. Segments of the public sector were privatized (Anderson & Lanen, 1999). As a result, India has emerged as a major player in exporting software technology, industrial and consumer goods, and financial services through a large number of multinational corporations. The presence of such global conglomerates also means increased interaction with international organizations such as the World Bank, International Monetary Fund, United Nations, and the Organization for Economic Cooperation and Development, just to name a few. However, the public sector still continues to play a major role in the Indian economy since all industries that are relevant to national defense and security are owned by the Indian government and account for a major portion of the nation's industrial economy. The accounting practices of this public sector, along with that of the organized private sector, fall into the realm of The Companies Act, 1956, and are similar in many respects to International Accounting Standards. The involvement of international institutions and businesses in financial matters makes it even more imperative that the Indian accounting system be compatible with its international counterpart. The Indian accounting system, which is based on the Companies Act of 1956, is basically a copy from its counterpart in the U. K. The Act has been amended several times to suit Indian conditions. More notable amongst the amendments are the ones in 1965 and 1969, which introduced regulations relating to maintenance of cost accounts and requirements for a cost audit. Also relevant are the two notifications issued in 1971 and 1973, which extended disclosure rules considerably (Marston, 1986). Research efforts at several Indian universities and other organizations have been commendable and have exerted influence on the accounting system in that they have focused on the changing needs of accounting with respect to the rapidly changing economic and technological environment. Such organizations include: the Indian Council of Social Science Research, which organizes research surveys in the areas of accounting and financial management; the Indian Accounting Association, which has made significant contributions through independent accounting research; and the Institute of the Chartered Accountants of India, (ICAI), which promulgates accounting standards for use by Indian companies. 5 Other international bodies, of which India is an active member, have also contributed towards bringing the Indian accounting system to par with International Accounting Standards. Examples of such bodies are: the Confederation of Asian and Pacific Accountants; and the Ad hoc Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (Marston, 1986). In addition, the Financial Stability Forum organized by Finance Ministers and Central Bank Governors of the G7 has helped to promote standards for global best practices (Echeverri-Gent, 2001). As a result of all these forces, an amendment to the Companies Act was enacted in October 1998 which established a new National Advisory Committee on Accounting Standards (Deloitte, 2007). However, cultural and political dimensions continue to influence India's accounting practices. 4. Comparative analysis of the international accounting standards and the accounting standards and practices of India Our analysis of the differences in International Accounting Standards (IAS) and the accounting standards and practices of India is presented in this section. Gernon et al. (1990) note six ways of evaluating national standards in conjunction with the IAS, which they extracted from an IASC survey entitled Survey of the Use and Application of IAS 1988. The six categories are as follows: 1. IAS adopted as national standard, 2. IAS used as the basis for a national requirement, 3. National requirements conform ‘in all material respects, with IAS’, 4. National practice ‘generally conforms with IAS’, 5. National requirements do ‘not conform with IAS’, and 6. National practice does ‘not generally conform with IAS’. Differences between accounting standards issued in India and accounting standards issued by the IASB fall under items five and six – either national requirements do not conform, or national practice does not conform. Using these criteria, Gernon et al. (1990) found India's conformity index with IAS to be 56%, in the decade before the 90s. It was the fifth lowest among the countries represented. Since Gernon et al. ‘s study in 1990, the IASB revised many of its standards, which became effective in 1995 (Epstein & Mirza, 1997). This â€Å"Comparability/Improvements Project† attempted to narrow the alternatives available to adopting countries. 6 Ten IAS were revised under this project and are included in IAS 1997: Interpretation and Application of IAS 1997. The standards affected include: inventories; errors and changes; research and development; construction contracts; property, plant and equipment; revenue recognition; retirement benefits; foreign exchange rates; business combinations; and borrowing costs (Epstein & Mirza, 1997). Our research and analysis of IAS includes these revisions. For purposes of our research, accounting standards used in India were extracted from the International Accounting Summaries of 1993 (Coopers & Lybrand (International), 1993) and from the Accounting Standards Updates by Jurisdiction (Deloitte, 2007). This includes accounting standards and guidance notes issued by the Institute of Chartered Accountants of India (ICAI) and the Companies Act of 1956. The ICAI had issued twelve standards as of 1993, seven of which were mandatory. These 12 standards are contrasted against the IAS. 7 Appearing in descending order of IAS, the major differences in accounting standards are outlined below according to the same format used by Graham and Wang (1995). 4. 1. IAS 2 – Inventories Based upon the Comparability / Improvements Project, the base stock method for costing of inventories is now prohibited, while the last-in, first-out (LIFO) method, has been reduced to an â€Å"allowed alternative† (Epstein and Mirza, p. 11). The Indian Accounting Standard, AS 2, revised in 1999, is generally in line with the IAS now with FIFO being the popular method among public limited companies. However, there are many firms still using the LIFO method, which is the allowed alternative under IAS, (Shankaraiah and Rao). This practice contrasts with the earlier period when under accounting standards issued by the ICAI, the base stock method could be used in â€Å"exceptional circumstances†, and the LIFO method was normally accepted (Coopers & Lybrand (International), 1993). Yet the fact that different procedures are still allowed make it difficult to compare performances across firms. 4. 2. IAS 7 – Cash flow statements Epstein and Mirza (1997) note that national and international accounting standard setters view the statement of cash flows as a â€Å"necessary component of complete financial reporting†. Thus, the statement of cash flows is a required component of a set of financial statements to be prepared under IAS. Under standards issued by the ICAI, AS 3, revised in 1997, either a funds flow statement or a statement of cash flows is acceptable. In practice, the majority of firms provide a funds flow statement with their annual reports. This is a significant change from the earlier period when the statement of changes in financial position (funds flow statement) was recommended but was not common practice (Coopers & Lybrand (International), 1993). However, under Clause 32 of the listing agreements for stock exchanges, a cash flow statement in similar conformance with the corresponding IAS was required for Indian companies at the time. An example could be found in the1995-6 Annual Report of Tata Iron & Steel, now Tata Steel (Tata Iron & Steel, 1996). 4. 3. IAS 8 – Net profit or loss for period, fundamental errors and changes in accounting policies Effective in 1995, IAS 8 allows as an alternative, inclusion the effects of errors in current period income, while the ICAI standards (AS 5) permit this approach as the only accounting treatment. However, AS 5 requires only the disclosure of prior period items but not its effect on current income (Shankaraiah and Rao). AS 5 was revised in 1997 and an exposure draft was issued in 2001 proposing limited revisions. 4. 4. IAS 11 – Construction contracts Based upon the IASB's Comparability/Improvements Project, the percentage-of-completion method for accounting for construction contracts is required, and the completed contract method is no longer allowed. The ICAI standard, AS 7, revised in 2002, allows for both the percentage-of-completion method and completed contract method but recommends the percentage-of-completion method if a reliable estimate of the outcome is possible. Also, under the umbrella of construction contracts is IAS 23 – Borrowing Costs. Under IAS, interest incurred on a construction contract should be expensed. This is the benchmark treatment. Capitalization of interest costs is an allowed alternative. The ICAI standards, AS 16, allow capitalization of interest if it is incurred during the period of construction. 4. 5. IAS 12 – Accounting for taxes on income IAS 12 permits the use of the tax deferral method or the tax liability method, in accounting for income taxes. The ICAI permits use of the tax payable method or the tax liability method. Also, the IAS prescribe a three year reversal period before timing differences can be excluded, while under tax laws in India the reversal period is five years. Also, under tax laws in India, a tax loss is permitted to be carried forward for eight years, while IAS 12 does not specifically prescribe a time period. 4. 6. IAS 14 – Reporting financial information by segment IAS 14 requires disclosure of segmental information if the firm has public subsidiaries, or if national standards require such treatment. AS 17, issued in 2000, is broadly in line with IAS 14. No such requirement existed earlier, but there were extensive disclosure requirements when reporting by product. As of October 2007, IAS 14 has been superseded by IFRS 8 – Operating segments. 4. 7. IAS 16 – Property, plant and equipment Under the Comparability/Improvements Project, IAS 16 now suggests historical cost as the benchmark in valuing property, plant and equipment. Revaluation is the allowed alternative. Under the ICAI's standards, AS 10, the appraisal method is preferred, and the most common in practice. 4. 8. IAS 17 – Accounting for leases Accounting standards issued by the ICAI did not include leases in 1993. In practice, no distinction was made between financial and operating leases. Under IAS 17, provisions for accounting for leases include both capital and operating leases. Accounting standards for leases were issued by ICAI in 2001, AS 19. These standards are broadly in line with IAS. 4. 9. IAS 19 – Retirement benefit cost IAS 19 requires actuarial valuations to be allocated to income on a systematic basis. Also, new under the Comparability / Improvements Project the accrued benefit valuation method is the benchmark in accounting for pensions, and the projected benefit method is the allowed alternative. Standards issued in India, AS 15, had no language concerning valuation methods, and no specific reference on how to account for actuarial valuations. However, the standards that were revised in 2005 and became effective in 2006, require that enterprises â€Å"actuarially determine and provide for such liability based on the ‘Projected Unit Credit Method’†(Deloitte, 2007). 4. 10. IAS 21 – The effects of changes in foreign exchange rate Since accounting standards issued by the ICAI do not require consolidation, the effect of changes in foreign exchange rates are reflected in the financial statements of the foreign branches of the â€Å"parent† company. The benchmark under IAS 21 is to recognize the effect of fluctuations in exchange rates as differences in income or expense in the period incurred. The allowed alternative is to include the difference in the carrying value of the related asset. Under the ICAI's standards, revised in 1994 and 2000, exchange rate differences are accounted for in the carrying value of the asset only for fixed assets. For all other accounts, differences are recognized as income or expense in the period incurred. For foreign entities not integral to operations, the IAS prescribe accounting for all assets and liabilities at the closing rate. Assuming foreign branches outside of India to be non-integral, non-monetary items are accounted for at the rate prevalent on the date of transaction under India's accounting standards. Clearly, the issue of accounting for changes in foreign exchange rates is in a state of flux in India, and a hotly debated item, as the rupee continues to strengthen. It has moved upwards relative to the dollar by 15% since 2004 with most of it occurring in the period 2006–2007. 4. 11. IAS 22 (superseded by IFRS 3) – Business combinations The Companies Act of India had no requirement for consolidation until April 2001. In turn, there was no requirement to write off goodwill, or to use the equity method. Subsidiaries normally accounted for in consolidation were accounted for as investments. AS 21 requires a parent company preparing financial statements to provide financial information about the economic activities, resources, obligations and results of its group. It is not mandatory to prepare consolidated financial statements. However, the Securities Exchange Board requires listed companies to prepare consolidated statements as of 2002. 4. 12. IAS 24 – Related party disclosure Although there was no prescribed accounting treatment by the ICAI or the Companies Act concerning related party transactions or disclosures, the Act did specifically define related parties. AS 18, issued in 2000, is now broadly in line with IAS 24. 4. 13. IAS 31 – Financial reporting of interests in joint ventures Accounting standards issued by ICAI had no standard concerning the different forms of joint ventures until 2002. Jointly controlled entities were accounted for as long term investments. AS 27, reporting of interests in Joint Ventures lays out principles and procedures for accounting for Joint Ventures for both venture partners and investors. The standards still differ from IAS. In accounting for jointly controlled entities, IAS 31 prescribes proportionate consolidation as the benchmark; and the equity method as the allowed alternative. The above analysis indicates that there are many critical issues that need to be dealt with by India's standard setting body, the ICAI. An important consideration in analyzing the differences between IAS and standards issued in India is the absence of mandatory requirements for consolidated financial statements. Fischer, Taylor, and Leer (1993) suggest that the presentation of consolidated financial statements is of great importance to the parent company's stockholders. Firms in India account for their subsidiaries as investments under the cost method of accounting for investments. This is perhaps a grave misinterpretation of the parent company's economic substance. The use of the cost method in accounting for subsidiaries in contrast to consolidation accounting represents the legal form of the companies, but does not represent the more important economic substance. In addition, the lack of consolidated financial statements in a developing country such as India impedes the progress towards comparability of multinational financial statements. Many large Indian companies have numerous subsidiary companies whose selected financial figures are presented separately in the annual reports as opposed to being consolidated with the â€Å"parent† companies. This makes it increasingly difficult for potential investors and financial analysts worldwide to make knowledgeable decisions. As recent as March 2007, the Press Trust of India quoted the ICAI president, Sunil H. Talati, as saying that Indian accountants face problems in accounting for mergers and acquisitions. However, as Indian companies opt to get listed on exchanges at home, the Securities Exchange Board of India requires consolidated financial statements. 5. Conclusions In recent years, India, one of the fastest growing economies has captured the attention of investors worldwide. Since the early nineties, following the opening up of the economy with more liberal policies, technical and financial collaborations have increased multifold and so has foreign direct investment and portfolio investment (Anderson & Lanen, 1999). Nevertheless, certain archaic accounting practices still continue. In their study on managerial accounting practices in India, Anderson and Lanen, 1999 S. W. Anderson and W. N. Lanen, Economic transition, strategy and the evolution of management accounting practices: The case of India, Accounting, Organizations and Society 24 (1999), pp. 379–412. Abstract | PDF (297 K) | View Record in Scopus | Cited By in Scopus (21)Anderson and Lanen (1999) report little involvement by investors and owners in the development of strategy which still is to a large extent controlled by the government. The Company's Act restricts â€Å"takeovers† and blocks transactions that the government may view as prejudicial to the interests of the company or the public. It is not surprising therefore to find that financial accounting practices mirror this policy by the lack of consolidation of parent and subsidiary financial statements, a major divergence from the IAS. Fischer et al. (1993) note that â€Å"stockholders are interested in the total financial position of the corporation, regardless of how diversified the operations have become† (p. 64). They also report that unconsolidated subsidiaries are very rare in businesses today. The push for changes in accounting practices appears to come from the equity markets. Change has come more rapidly to the equity markets because reform in these markets â€Å"have not aroused as much political opposition† (Echeverri-Gent, 2001). However the banking and business sectors are still steeped in tradition and political agendas of national and state parties affect their evolution. Besides, it is also important to consider the strong cultural element present in India. This could impede the process somewhat even though over the last few years many Indian standards have sought conformance with the International Accounting Standards (Narayanaswamy, 1992). Nevertheless, in March 2007, the Press Trust of India reported that India had adopted only 21 IAS in comparison to the 47 IAS adopted by several developed countries. Press Trust of India, 2007). In July 2007, the council of the ICAI announced a plan to converge the Indian Accounting Standards with the International Financial Reporting Standards (formerly IAS). However, it retained the stipulation that any modifications will still have to reflect â€Å"Indian conditions. † (Deloitte, 2007). The new standards will be effective on or after April 1, 2011. Our study of the Indian accounting system in conjunction with the International Accounting Standards indicates the importance of developing comparable financial statements in emerging economies with those of the developed world. In India, the political and social impediments need to be tackled in order to improve comparability for financial statement users. On the Business Competitiveness Index, India is ranked 48th among industrial countries. By conforming to international standards, India would be taking the necessary steps to improve its competitive position in world markets. References Anderson and Lanen, 1999 S. W. Anderson and W. N. Lanen, Economic transition, strategy and the evolution of management accounting practices: The case of India, Accounting, Organizations and Society 24 (1999), pp. 79–412. Abstract | PDF (297 K) | View Record in Scopus | Cited By in Scopus (21) Coopers and Lybrand (International), 1993 Coopers and Lybrand (International), International accounting summaries, John Wiley & Sons, Inc. , New York, NY (1993). Deloitte, 2007 Deloitte, Accounting standards updates by jurisdiction (2007). Doupnik and Salter, 1995 Timothy S. Doupnik and Stephen B. Salter, External environment, culture, and accounting practice: A preliminary test of a general model of international accounting development, The International Journal of Accounting 30 (1995), pp. 189–207. Echeverri-Gent, 2001, August John Echeverri-Gent, Political economy of India's fiscal and financial reform, Center for Research on Economic Development and Policy Reform (2001, August). Epstein and Mirza, 1997 Barry J. Epstein and Abbas Ali Mirza, IAS 97: Interpretation and application of International Accounting Standards, John Wiley & Sons, Inc. , New York, NY (1997). Fechner and Kilgore, 1994 Harry H. E. Fechner and Alan Kilgore, The influence of cultural factors on accounting practice, The International Journal of Accounting 29 (1994), pp. 265–277. Fischer et al. , 1993 Paul M. Fischer, William J. Taylor and J. Arthur Leer, Advanced accounting (5th Edition), College Division, South-Western Publishing Co. , Cincinnati, OH (1993). Gernon et al. , 1990 Helen Gernon, S. E. C. Purvis and Micheal A. Diamond, An analysis of the implications of the IASC's Comparability Project, School of Accounting, University of Southern California: SEC and Financial Reporting Institute (1990). Graham and Wang, 1995 Roger C. Graham and Chin-hsin Coco Wang, Taiwan and International Accounting Standards: A comparison, The International Journal of Accounting 30 (1995), pp. 49–167. Larson and Kenny, 1995, Summer Robert K. Larson and Sara York Kenny, An empirical analysis of international accounting standards, equity markets, and economic growth in developing countries, Journal of International Financial Management and Accounting 6 (1995, Summer), pp. 130–157. Full Text via CrossRef Larson and Kenny, 1996 Robert K. Larson and Sara York Kenny, Accounting standard-setting s trategies and theories of economic development: Implications for the adoption of international accounting standards, Advances in International Accounting 9 (1996), pp. 1–20. Marston, 1986 Claire Marston, Financial reporting in India, Croom Helm, London, UK (1986). Narayanaswamy, 1992 R. Narayanaswamy, Accounting for leases by lessees in India: Some evidence of economic impact, The International Journal of Accounting 27 (1992), pp. 255–261. Press Trust of India, 2007 Press Trust of India, ICAI sets up taskforce on accounting standards, PTI-The Press Trust of India (2007). Riahi-Belkaoui, 1994 Ahmed Riahi-Belkaoui, Accounting in the developing countries, Quorum Books, Westport, CT (1994). Riahi-Belkaoui, 1995 Ahmed Riahi-Belkaoui, The cultural shaping of accounting, Quorum Books, Westport, CT (1995). Shankaraiah and Rao Shankaraiah, K. , & Rao, D. N. Corporate governance and accounting standards in India. An empirical study on practices. Working Paper. (February 10, 2004). Available at SSRN: http://ssm. com/abstract=501242. The Tata Iron and Steel Company Limited, 1996 The Tata Iron and Steel Company Limited, Eighty-Ninth Annual Report, 1995–6 (1996) Tata Steel, Fort Mumbai, INDIA. Wyatt, 1992, Spring Arthur R. Wyatt, An era of harmonization, Journal of International Financial Management and Accounting 4 (1992, Spring), pp. 63–68. Full Text via CrossRef

Digital Fortress Chapter 29

Still unnerved from her encounter with Hale, Susan gazed out through the one-way glass of Node 3. The Crypto floor was empty. Hale was silent again, engrossed. She wished he would leave. She wondered if she should call Strathmore; the commander could simply kick Hale out-after all, it was Saturday. Susan knew, however, that if Hale got kicked out, he would immediately become suspicious. Once dismissed, he probably would start calling other cryptographers asking what they thought was going on. Susan decided it was better just to let Hale be. He would leave on his own soon enough. An unbreakable algorithm. She sighed, her thoughts returning to Digital Fortress. It amazed her that an algorithm like that could really be created-then again, the proof was right there in front of her; TRANSLTR appeared useless against it. Susan thought of Strathmore, nobly bearing the weight of this ordeal on his shoulders, doing what was necessary, staying cool in the face of disaster. Susan sometimes saw David in Strathmore. They had many of the same qualities-tenacity, dedication, intelligence. Sometimes Susan thought Strathmore would be lost without her; the purity of her love for cryptography seemed to be an emotional lifeline to Strathmore, lifting him from the sea of churning politics and reminding him of his early days as a code-breaker. Susan relied on Strathmore too; he was her shelter in a world of power-hungry men, nurturing her career, protecting her, and, as he often joked, making all her dreams come true. There was some truth to that, she thought. As unintentional as it may have been, the commander was the one who'd made the call that brought David Becker to the NSA that fateful afternoon. Her mind reeled back to him, and her eyes fell instinctively to the pull-slide beside her keyboard. There was a small fax taped there. The fax had been there for seven months. It was the only code Susan Fletcher had yet to break. It was from David. She read it for the five-hundredth time. PLEASE ACCEPT THIS HUMBLE FAX MY LOVE FOR YOU IS WITHOUT WAX. He'd sent it to her after a minor tiff. She'd begged him for months to tell her what it meant, but he had refused. Without wax. It was David's revenge. Susan had taught David a lot about code-breaking, and to keep him on his toes, she had taken to encoding all of her messages to him with some simple encryption scheme. Shopping lists, love notes-they were all encrypted. It was a game, and David had become quite a good cryptographer. Then he'd decided to return the favor. He'd started signing all his letters â€Å"Without wax, David.† Susan had over two dozen notes from David. They were all signed the same way. Without wax. Susan begged to know the hidden meaning, but David wasn't talking. Whenever she asked, he simply smiled and said, â€Å"You're the code-breaker.† The NSA's head cryptographer had tried everything-substitutions, cipher boxes, even anagrams. She'd run the letters â€Å"without wax† through her computer and asked for rearrangements of the letters into new phrases. All she'd gotten back was: taxi hut wow. It appeared Ensei Tankado was not the only one who could write unbreakable codes. Her thoughts were interrupted by the sound of the pneumatic doors hissing open. Strathmore strode in. â€Å"Susan, any word yet?† Strathmore saw Greg Hale and stopped short. â€Å"Well, good evening, Mr. Hale.† He frowned, his eyes narrowing. â€Å"On a Saturday, no less. To what do we owe the honor?† Hale smiled innocently. â€Å"Just making sure I pull my weight.† â€Å"I see.† Strathmore grunted, apparently weighing his options. After a moment, it seemed he too decided not to rock Hale's boat. He turned coolly to Susan. â€Å"Ms. Fletcher, could I speak to you for a moment? Outside?† Susan hesitated. â€Å"Ah†¦ yes, sir.† She shot an uneasy glance at her monitor and then across the room at Greg Hale. â€Å"Just a minute.† With a few quick keystrokes, she pulled up a program called ScreenLock. It was a privacy utility. Every terminal in Node 3 was equipped with it. Because the terminals stayed on around the clock, ScreenLock enabled cryptographers to leave their stations and know that nobody would tamper with their files. Susan entered her five-character privacy code, and her screen went black. It would remain that way until she returned and typed the proper sequence. Then she slipped on her shoes and followed the commander out. â€Å"What the hell is he doing here?† Strathmore demanded as soon as he and Susan were outside Node 3. â€Å"His usual,† Susan replied. â€Å"Nothing.† Strathmore looked concerned. â€Å"Has he said anything about TRANSLTR?† â€Å"No. But if he accesses the Run-Monitor and sees it registering seventeen hours, he'll have something to say all right.† Strathmore considered it. â€Å"There's no reason he'd access it.† Susan eyed the commander. â€Å"You want to send him home?† â€Å"No. We'll let him be.† Strathmore glanced over at the Sys-Sec office. â€Å"Has Chartrukian left yet?† â€Å"I don't know. I haven't seen him.† â€Å"Jesus.† Strathmore groaned. â€Å"This is a circus.† He ran a hand across the beard stubble that had darkened his face over the past thirty-six hours. â€Å"Any word yet on the tracer? I feel like I'm sitting on my hands up there.† â€Å"Not yet. Any word from David?† Strathmore shook his head. â€Å"I asked him not to call me until he has the ring.† Susan looked surprised. â€Å"Why not? What if he needs help?† Strathmore shrugged. â€Å"I can't help him from here-he's on his own. Besides, I'd rather not talk on unsecured lines just in case someone's listening.† Susan's eyes widened in concern. â€Å"What's that supposed to mean?† Strathmore immediately looked apologetic. He gave her a reassuring smile. â€Å"David's fine. I'm just being careful.† Thirty feet away from their conversation, hidden behind the one-way glass of Node 3, Greg Hale stood at Susan's terminal. Her screen was black. Hale glanced out at the commander and Susan. Then he reached for his wallet. He extracted a small index card and read it. Double-checking that Strathmore and Susan were still talking, Hale carefully typed five keystrokes on Susan's keyboard. A second later her monitor sprang to life. â€Å"Bingo.† He chuckled. Stealing the Node 3 privacy codes had been simple. In Node 3, every terminal had an identical detachable keyboard. Hale had simply taken his keyboard home one night and installed a chip that kept a record of every keystroke made on it. Then he had come in early, swapped his modified keyboard for someone else's, and waited. At the end of the day, he switched back and viewed the data recorded by the chip. Even though there were millions of keystrokes to sort through, finding the access code was simple; the first thing a cryptographer did every morning was type the privacy code that unlocked his terminal. This, of course, made Hale's job effortless-the privacy code always appeared as the first five characters on the list. It was ironic, Hale thought as he gazed at Susan's monitor. He'd stolen the privacy codes just for kicks. He was happy now he'd done it; the program on Susan's screen looked significant. Hale puzzled over it for a moment. It was written in LIMBO-not one of his specialties. Just by looking at it, though, Hale could tell one thing for certain-this was not a diagnostic. He could make sense of only two words. But they were enough. TRACER SEARCHING†¦ â€Å"Tracer?† he said aloud. â€Å"Searching for what?† Hale felt suddenly uneasy. He sat a moment studying Susan's screen. Then he made his decision. Hale understood enough about the LIMBO programming language to know that it borrowed heavily from two other languages-C and Pascal-both of which he knew cold. Glancing up to check that Strathmore and Susan were still talking outside, Hale improvised. He entered a few modified Pascal commands and hit return. The tracer's status window responded exactly as he had hoped. TRACER ABORT? He quickly typed: YES ARE YOU SURE? Again he typed: YES After a moment the computer beeped. TRACER ABORTED Hale smiled. The terminal had just sent a message telling Susan's tracer to self-destruct prematurely. Whatever she was looking for would have to wait. Mindful to leave no evidence, Hale expertly navigated his way into her system activity log and deleted all the commands he'd just typed. Then he reentered Susan's privacy code. The monitor went black. When Susan Fletcher returned to Node 3, Greg Hale was seated quietly at his terminal.

International aspects of business law Essay Example | Topics and Well Written Essays - 2500 words

International aspects of business law - Essay Example There are three categories of corruption cases, which can be political, personal or commercial in nature, but the basic difference lies in the office, authority and position, which are neglected, and intent of manipulations. Further there is political corruption, which may include bribery, use of governmental offices for private enrichment and changing of how decisions are made by public bodies (Heidenheimer, Johnston and Le Vine 1989). On the other hand, bribery is an act of corruption that entails obtaining money or any form of monetary gain, or the making of payments illegally through abuse of public or commercial office and funds. This payment does not necessarily involve the exchange of money, but can also be through gifts, special favours or influence and despite the form it takes, corruption is always a transaction that goes in two ways involving two parties that is the briber and the one who receives the bribe. In relation to the case study Mullet Inc. though incorporated in US intends to secure a contract to supply computers to Central Bank of Acacia, however it is faced with the challenge of contravening international business laws on corruption and bribery by giving the board of directors a celebratory dinner for it to secure the contract. The payment of this dinner is a form of bribery to the board members by the negotiating team for them to accept to continue and finalize the business contract. This paper will seek to advise the Mullet Inc. negotiating team of their legal liabilities by giving in to the Chairman of the Acacia bank demands under US FCPA in comparison to the UK Bribery Act. The U.S. Foreign Corrupt Practices Act This Act of 1977 outlaws American corporations from making any payment deemed as bribery or inducements to overseas representatives with the intent of winning or keeping business (U.S. Department of Commerce 2004). This statute was enacted to put a stop to the act of bribing officials from foreign countries as well as restori ng the confidence of the American investor in the integrity of the American business system and, has been amended twice in 1988 and in 1998 with the changing dynamics in businesses (Rutchfield and Lacey 2000). The U.K. Bribery Act 2010 Studies by independent audit firms such as Ernst & Young and Confronting Corruption show that firms and businesses in the United Kingdom have been making tremendous losses due to corruption and bribery. These are termed as barriers to growth and trade and overseas corruption makes it even harder and expensive do businesses abroad. The United Kingdom government has therefore strengthened its laws by enacting the Bribery Act 2010 that came into operation on July 1, 2011 creating a number of offences relating to corruption in international businesses. This law outlawed the bribing of a foreign official, giving, or promising an advantage when dealing with international business transactions (De Jonge 2011, p. 136). The U.K. Bribery Act 2010 also created a n offence of acceptance, demanding, or assenting to receive an advantage or benefit or failing to stop a bribe from being paid on behalf of a firm or a company. Case Study Analysis of the Celebratory Dinner Request under UK Bribery Act and FCPA Public/private sector The FCPA prohibits giving of bribery only to foreign public officials; on the other

Family Law Essay Example | Topics and Well Written Essays - 500 words

Family Law - Essay Example The professional license itself would not have separate value. However, if the license was acquired during the marriage to the other partner’s detriment, the court would likely seek to equalize the benefit accrued to the licensed partner. The court has adopted the rules pertaining to the dissolution of business partnership to apply to the division and distribution of property in divorce cases. See Gussin v. Gussin, 73 Haw. 470, 483–84, 836 P.2d 484, 481 (1992). â€Å"Under general partnership law, each partner is entitled to be repaid his contributions to the partnership property, whether made by way of capital or advances.† Tougas v. Tougas, 76 Hawai‘i 19, 27, 868 P.2d 437, 445 (1994) (internal quotation marks and citation omitted). Then, absent â€Å"agreement to the contrary, ‘partners share equally in the profits of their partnership, even though they may have contributed unequally to capital or services.’ â€Å" Id. (quoting Gardner v. G ardner, 8 Haw.

A Rose For Emily Essay Example | Topics and Well Written Essays - 250 words

A Rose For Emily - Essay Example She was even able to keep Homer around despite her odd behavior. Emily was an outsider. Not only did she hide herself behind her decrepit house, but she hid herself behind her attitude that suggested that nothing was amiss in her life. She gave off an attitude in hopes of being admired by the townspeople. However, both her house and attitude would suggest the kind of woman that Emily was: sheltered, aged beyond her years, barely able to stand on her own too feet, much like her house on its foundation. Despite this, though, Emily requires attention, mainly from men. She ignores her neighbors and the community until Homer comes along, fulfilling her needs. Emily was also a necrophiliac, having a sexual attraction to dead bodies, which could have developed after her father’s dead body was properly disposed of. Having everything that she loved constantly taken from her, it is almost unsurprising that she would keep Homer’s body long after his death. She did not want yet ano ther of her loved possessions removed from her. The arsenic that she had bought prior to Homer’s arrival, which never made an appearance again in the story, could assumed to have been the cause of Homer’s death.

Improving Health Care Facilities Term Paper Example | Topics and Well Written Essays - 1000 words

Improving Health Care Facilities - Term Paper Example I happened to visit a health care facility within our community where I observed that services did not reach the expected level. To begin with, the reception area was crowded since the queues moved so slowly. The fact that most patients required urgent attention triggered a feeling of inconveniences when one looked at the queues. In some cases, patients paid other people to queue on their behalf as they waited for their long-awaited turn to see a doctor. Later on when my turn came, I realized that the long queues were as a result of mismanagement and disorganization at the reception desk. The facility is still using manual filling and patient allocation system to the relevant doctors. This made the attendants at the reception look exhausted hence disinterested in what was happening. The communication channel in the facility can well be described as inefficient. The receptionist shouted the patient name when their turn came to be attended. Other than triggering noise making in the facility hallway, it caused confusion as everyone tried to enquire the owner of the name. In response to such situations, telecommunication application in this facility can best improve their services for instance, installation of microphone communicators. The communicator effectively ensures that the information passed by the reception attendant systematically flows to all hallways in the facility. Consequently, its application ensures organization at the reception since each individual hears their name from wherever they are without much struggle. In effort to reduce the queues, the health facility needs to appreciate the advancement of technology such as the use of computers. Other than reducing the workload at the reception, it organizes the facility’s data in such a manner that each patient’s data appears by the click of a button (Russell, 1927) . Moreover, most facilities now utilize the resources offered by the digital advancements hence offering better services to the respective clients (Julie, Miller & Horowitz, 2010). On the other hand, application of certain frameworks with the intent of improving the facility’s processes best achieves the improvement objective (Teicholz & Ikeda, 1995). However, focusing on the management of the Information Technology department (IT), the frameworks call for critical assessment first. As a recommendation, the management can start with adoption of technological advancement to increase the efficiency of their department’s services. At the outset, advocacy of installing surveillance systems by the management of the Information and Technology department greatly improves the facility’s processes. It simplifies yet improves the efficiency of supervision in the facility. This way, monitoring the employee’s activities becomes easier since it does not require personal presence. In addition, monitoring more than one sector at a go becomes possible when using screens in the IT department. Moreover, network connection done from the IT department would not only enhance the facility’s processes but also augment improvement of communication channels. Application of such network frameworks contributes towards better performance of the facility by simplifying process performances. In the patient monitoring section for instance, these networks monitor the patients performance continuously hence avoiding person to person contact between the patient and the nurse. Therefore, installing these networks means that the facility reduces p ersonal check-ups every now and then. Thus, personal attendance only becomes essential when the machine signals an emergency in

PESTEL analysis for Embraer Case Study Example | Topics and Well Written Essays - 500 words

PESTEL analysis for Embraer - Case Study Example PESTEL is an acronym for the Political, Economic, Socio-cultural, Technological, Environmental and Legal factors that contribute to the growth or decline of an organization. Embraer is the quintessential example of the success of neoliberal privatization of a government company. The political and social factors, to some extent, contributed to the growth of this company. The political environment of Brazil, despite being poor, has had little to no effect to Embraer. The privatization in 1994 excluded the government from the running of the company (Rothaermel, 2012). Similarly, the socio-cultural factors have had minimal contribution because this company does not focus on people. The company focuses on the building and selling of aircraft, which are bought by corporations and not bought by ordinary people. On the other hand, the economical and technological factors have contributed significantly to the prosperity of Embraer. Being based in Brazil, the company was at a unique position to benefit from the economic growth of the country (Rothaermel, 2012). Brazil is a world economic giant, ranked seventh, and is considered as the fastest growing economy in the world. Furthermore, the country is the largest economy in Latin America. This growth in Brazil’s economy has led to fertile economic environment for Embraer’s growth. There is availability of development capital in the country that led to the growth of the company. The government is a significant shareholder in the company giving it vast economic resources for gain. The Brazilian government was very instrumental in the present success of Embraer. After its inception, the Brazilian government gave the company license production contracts for the production of local aircraft. This contract was the catalyst for future growth because the company already had an available market (Rothaermel, 2012). The economical factors have had significant

Stakeholder management project Dissertation Example | Topics and Well Written Essays - 13000 words

Stakeholder management project - Dissertation Example ...30 Chapter 5: Discussion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...50 Chapter 6: Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....52 Reference List†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.54 Abstract The aim of this dissertation is to illustrate how different stakeholders influence an organization. This is with the intention of helping management in making effective decision regarding stakeholders so that they can reap the positive benefits of making good decisions in relation to stakeholders’ management. General Motors: A company which collapsed as a result of having poor stakeholder management is used as the cases study. The first chapter is an introduction of the content of the dissertation. It gives the significance of stakeholder management and how this affects an organization. It outlines the various stakeholders and how each influences the management decision. It furthers gives the historical development of the General Motors company. How it started, what made it succeed and how poor stakeholder management let to its eventual downfall. ... The fifth chapter is a discussion that outlines lessons learnt from each stakeholder interaction and explains how organization can capitalize on these lessons to manage their stakeholders in a better way. This involves the prediction of the outcomes of each interaction thereby making the right decision to avoid negative outcomes. Chapter six is the conclusion consisting of recommendation for further research on the topic of stakeholder management. It also gives a summary of new insight gained on the topic. Lastly we have the reference list on the last page. Chapter 1: Introduction and rationale Today, we are living in a highly dynamic and competitive business climate. Businesses which fail to adapt to the changing climate are at the risk of stagnating and being driven out of the industries. To stay on top of the game, organizations are using different strategies that keep them ahead of their competitors. One way that has been seen to be effective in achieving this has been the manage ment of stakeholders. There are different groups of stakeholders that influence the management decisions. How these different stakeholders are treated can affect an organization either positively or negatively( Muller, 2008: 32). The stakeholders are the people who have interest in an organization. These stakeholders include the shareholders employees, the competitors, suppliers, customers and the community in the region where a business is located. The shareholders have been recognized as the most important stakeholders in an organization. This means that the management should always give the shareholders interest priority in case they are in

The Economics of Speculative Construction Development Term Paper

The Economics of Speculative Construction Development - Term Paper Example The housing sector in 2010 had recorded sales of 276,000 houses in the urban and semi-urban areas. This figure in last few years has increased to approximately 454,000 (Athey, 2009). Although the housing sector has been earning steady revenues, the required rate of growth has not been satisfactory. Common people are finding it risky to invest in property by acquiring loans due to the consistent rise of interests. Post financial crisis, most of the financial institutions have established stringent policies in respect of providing housing loans. The housing sector of the U.K. however plays a major role in the development of the economy as a whole. Even though the sector has been incurring slow growths, the revenue obtained from the housing and development sector is seen to be persistently high. The demands for houses have remained high as the economy is quite prosperous. Individual in the U.K have a high level of disposable income, due to which they find it feasible to invest in proper ty (Berry and McGreal, 2003). Research and studies in this sector have indicated that the demand for houses is expected to rise steadily. Construction companies are, hence, considering it profitable to develop sites and invest in properties of the U.K (Harrison and Leitch, 2010). In order to boost the housing and development sector, foreign investors are devising different types of schemes. Since population is consistently rising, it is essential for property developers to construct more homes. A recent survey had estimated that it is essential to build at least 150,000 new homes each year so as to be able meet housing requirements of the growing population (Haveman and Sexton, 2008). In the recent years, many real estate developers from the U.S. have increased their investments in the U.K. The positive market trends and steady growth in real estate have been successful in attracting foreign investors (Berry

Implementations of Emission Reduction Strategies as Political Research Paper - 4

Implementations of Emission Reduction Strategies as Political Decisions - Research Paper Example 7-18 December 2009 were the dates when world leaders gathered in Copenhagen to discuss the problems of climate change. The Climate Summit was the fifteenth conference of the global governments and resulted in the announcement of the Copenhagen Accord. This agreement was meant to be reached by the US and a block of BASIC – large developing – countries (China, India, South Africa, and Brazil) in regards to the measures world countries should take in order to reduce human impact on the environment and Earth atmosphere in particular. Though the Accord was outlining the major objectives of the counties cooperation with the purpose of fighting climate change, the paper did not even set any emission reduction targets. There was no information indicating a measurable way of determining each country’s impact on the prevention of temperature rise and no peaking emissions target year. Furthermore, the agreement did not even have any legally bounding force and the only resul ts the Climate Summit had was that the representatives of world countries approved taking note of the Copenhagen Accord. Many countries were opposing the methods and objectives the Accord presented (Buxton 2010) so, as a result, the US did not force the participating countries to officially accept the Accord for fulfillment. Though the document acknowledges the fact that temperature rise should be kept below 2 degrees Celsius with the help of emissions reduction, not specific goals were set for the countries to comply with the objective. Another point was that developing countries that are influenced by climate change most of all were to receive financial aid from developed countries in the period of 2010-2012 for adapting to the climate change (United Nations 2009, 3). The Accord also encourages the practice of paying developing countries for reducing emissions from deforestation and degradation (Vidal, Stratton, and Goldenberg 2009). It should also be noted that previously develop ed proposals that called the countries for limiting temperature rises to 1.5 degrees Celsius and reducing carbon dioxide emissions by 80% by 2050 were abandoned. In addition, the interesting fact is that the United States, who refused to sign the Kyoto Protocol of 1997, was the major contributor to and strongest supporter of the Copenhagen Accord. The country’s motive for objecting to signing documents like the Kyoto Protocol, the purpose of which is the worldwide reduction of greenhouse gas emission, is, most likely economic. The USA is one of the largest environment polluters in the world because of the high level of economic development and great volumes of industrial production (Droge and Kemfert 2005, 246). The signing of such an agreement force the US companies to either invest in the development of environmentally friendly technologies or reduce the levels of production. Either option leads to a decrease in companies’ profit and, consequently, a decrease in the government’s tax income. Fighting the Climate Change: Trade Policies, In any case, the outcomes of the Climate Summit can, according to Droge and Kemfert (2005, 235) be explained by the fact that climate change policies are rather political decisions that have a very strong relation to international trade policy and business operations. A study conducted by Droge and Kemfert (2005, 235) is focused on the trade policies related to climate.

Importance of Management Essay Example for Free

Importance of Management Essay Management  is a universal phenomenon. It is a very popular and widely used term. All organizations business, political, cultural or social are involved in management because it is the management which helps and directs the various efforts towards a definite purpose. According to  Harold Koontz, â€Å"Management is an art of getting things done through and with the people in formally organized groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals†. According to  F. W. Taylor, â€Å"Management is an art of knowing what to do, when to do and see that it is done in the best and cheapest way†. Management is a purposive activity. It is something that directs group efforts towards the attainment of certain pre determined goals. It is the process of working with and through others to effectively achieve the goals of the organization, by efficiently using limited resources in the changing world. Of course, these goals may vary from one enterprise to another. E. g. : For one enterprise it may be launching of new products by conducting market surveys and for other it may be profit maximization by minimizing cost. Management involves creating an internal environment: It is the management which puts into use the various factors of production. Therefore, it is the responsibility of management to create such conditions which are conducive to maximum efforts so that people are able to perform their task efficiently and effectively. It includes ensuring availability of raw materials, determination of wages and salaries, formulation of rules amp; regulations etc. Therefore, we can say that good management includes both being effective and efficient. Being effective means doing the appropriate task i. , fitting the square pegs in square holes and round pegs in round holes. Being efficient means doing the task correctly, at least possible cost with minimum wastage of resources. Management can be defined in detail in following categories : Management as a  Process Management as an  Activity Management as a  Discipline Management as a  Group Management as a  Science Management as an  Art Management as a  Profession 1. It helps in Achieving Group Goals   It arranges the factors of production, assembles and organizes the resources, integrates the resources in effective manner to achieve goals. It directs group efforts towards achievement of pre-determined goals. By defining objective of organization clearly there would be no wastage of time, money and effort. Management converts disorganized resources of men, machines, money etc. into useful enterprise. These resources are coordinated, directed and controlled in such a manner that enterprise work towards attainment of goals. 2. Optimum Utilization of Resources   Management utilizes all the physical amp; human resources productively. This leads to efficacy in management. Management provides maximum utilization of scarce resources by selecting its best possible alternate use in industry from out of various uses. It makes use of experts, professional and these services leads to use of their skills, knowledge, and proper utilization and avoids wastage. If employees and machines are producing its maximum there is no under employment of any resources. 3. Reduces Costs   It gets maximum results through minimum input by proper planning and by using minimum input amp; getting maximum output. Management uses physical, human and financial resources in such a manner which results in best combination. This helps in cost reduction. 4. Establishes Sound Organization   No overlapping of efforts (smooth and coordinated functions). To establish sound organizational structure is one of the objective of management which is in tune with objective of organization and for fulfillment of this, it establishes effective authority amp; responsibility relationship i. e. who is accountable to whom, who can give instructions to whom, who are superiors amp; who are subordinates. Management fills up various positions with right persons, having right skills, training and qualification. All jobs should be cleared to everyone. 5. Establishes Equilibrium   It enables the organization to survive in changing environment. It keeps in touch with the changing environment. With the change is external environment, the initial co-ordination of organization must be changed. So it adapts organization to changing demand of market / changing needs of societies. It is responsible for growth and survival of organization. 6. Essentials for Prosperity of Society   Efficient management leads to better economical production which helps in turn to increase the welfare of people. Good management makes a difficult task easier by avoiding wastage of scarce resource. It improves standard of living. It increases the profit which is beneficial to business and society will get maximum output at minimum cost by creating employment opportunities which generate income in hands. Organization comes with new products and researches beneficial for society. What is the Importance of Management in Business? â€Å"Some underestimate the importance of management in business but the latest researches have shown that it is certainly not the case. The input of the labor, capital and raw materials can never become production without the catalyst of management. A business cannot survive without management because management is its means of support. Management is concerned with acquiring maximum prosperity with minimum efforts. Management is essential wherever group efforts are required to be directed towards achievements of common goals. In this management conscious age, the significance of management can hardly be over emphasized. It is said that any thing minus management amounts to nothing. There is no more important area of human activity than management since its task is that of getting things done through others. Some underestimate the importance of management in business but the latest researches have shown that it is certainly not the case. The input of the labor, capital and raw materials can never become production without the catalyst of management. Management is a dynamic life-giving element in an organization. In its absence, the resources of production remain underutilized and can never become production. In fact, without efficient management, no country can become a nation. Business is basically a group activity and management plays an important role in making it more effective. The group as a whole cannot realize its objectives unless and until there is mutual cooperation and coordination among the members of the groups. Management creates teamwork and team spirit in an organization by developing a sound organizational structure. It brings the human and material resources together and motivates the people for the achievement of goals. The available resources of production are put to use in such a way that all sort of wastages and inefficiencies are reduced to a minimum. If the managers in any business are not considerate and good at their job, nothing worthwhile can be expected of the subordinates. The motivation level of the employees is directly related to good management. Management creates and maintains an environment conducive to higher efficiency and performance. A business enterprise operates in a constantly changing environment. Changes in the business environment create risk and also provide opportunities for growth. A conducive and encouraging environment is indispensable for any business and sound management makes it possible easily. Negative Aspects of Technology Introduction The history of technology is as old as human life. This is because the usage of technology came into existence when the humans existed. Technology had a great progress since ages that is from mastery of fire by man to computers, rockets, electronics etc which shows the 21st century achievements. The technologies that evolved in the past and even now made our lives comfortable. People are totally dependent on technology. Technology helps in speedy development and changes. According to a dictionary the definition of technology is given as â€Å"the sum of the ways in which social groups provide themselves with the material objects of their civilization. (Technology, 2012). This shows that technology usage has become as part of our life. These technologies include computers, cell phones, emails, video conferencing and even the basic things like microwave oven and fridge. Technology has become important in every aspect of our life. It changed our way of life in both positive and negative ways. Over past decade, there are many new techno logies that have evolved and there is much advancement in the existing technologies. Technology separates individuals from reality. Problem The advancements in technologies have made our lives comfortable but there is a great negative impact of the technology in our lives. There are many factors that supports that technology has adverse effects on society. Technology is not always green. While new and rapidly advancing knowledge will surely become a dominant force shaping the future of mankind, experts tells that advancing technology always brings side effects. This is because humans modify nature to meet their needs and wants. So scientists feel that the development of technology is causing harm to the environment. Technologys Negative Impact on Business Technology has positive affects on global business. The Internet makes it possible for people to communicate easily with associates in other countries. Ecommerce makes it possible for consumers to purchase almost anything from almost anywhere. And the flow of information is fast and often free once you have paid for Internet access. However, technology also has negative impacts on business. Business Relationships Internet technology such as chat rooms, Skype and other software has made it possible to hold meetings without all parties being physically present in the same place. A drawback is that meeting with somebody over the Internet is much less personal than meeting face-to-face. Internet technology in business decreases the personal aspect of business relationships. Business people used to network in restaurants and on golf courses. Today, the lack of physical proximity decreases brainstorming and other communications that use a personal touch. Employee Morale Installing monitoring software in the workplace sends the message to employees that the company does not trust them, according to research done under the aegis of professor Howard Besser while teaching at New York University. Giving employees responsibility, trust and respect boosts their morale and productivity. Showing them that they are not trusted and must be recorded decreases morale and worker productivity. This is true regardless of the actual reasons for installing monitoring software, according to the same research. Spam Spam refers to unwanted and unsolicited email messages. Spam is widespread and has negative impacts on business, according to the article Impact of Information Technology on Global Business published by Purdue University. Wading through spam email is a waste of time, and spam filters can only do so much. Users of spam filters must then check for necessary email messages diverted incorrectly as spam. Brick and Mortar The popularity of ecommerce has had a negative impact on brick-and-mortar retail stores. Smaller stores are finding more and more difficult to compete with both Internet businesses and larger retail stores. For example, small community bookstores must compete with Amazon. com as well as large stores such as Barnes ;amp; Noble that sell in person and online. Sometimes the smaller stores end up going out of business.

Idiopathic Pulmonary Fibrosis: An Overview

Idiopathic Pulmonary Fibrosis: An Overview Jennifer Beardsley Abstract Idiopathic pulmonary fibrosis (IPF) is a devastating interstitial lung disease that has no cure. The term fibrosis refers to scarring, in IPF particularly the scarring of the lungs. The scarring causes irreversible destruction and progressive decline of the lungs. When the tissue thickens, the lungs cannot properly exchange oxygen. The term idiopathic, in medicine, means that the origin of the disease is unknown. The exact cause of IPF is unknown, however, certain risk factors such as smoking, exposure to inhaled toxins such as asbestos, lung injury, viral, and bacterial infections, acid reflux and genetics associated with the disease. IPF mainly affects people ages 50 and up. â€Å"Many people live only about 3 to 5 years after diagnosis. The most common cause of death related to IPF is respiratory failure† (â€Å"What Is Idiopathic Pulmonary Fibrosis? NHLBI, NIH,† n.d.). â€Å"40,000 people die each year to IPF, the same as to breast cancer† (â€Å"Facts Abou t Idiopathic Pulmonary Fibrosis | Coalition For Pulmonary FibrosisCoalition For Pulmonary Fibrosis,† n.d.), yet IPF is still an unknown disease to many people. This paper will discuss the risk factors, disease process, complications, management, and new drug therapy clinical trials. Idiopathic Pulmonary Fibrosis: An Overview Etiology Idiopathic Pulmonary Fibrosis first started to become recognizable around the late 1800’s (Noble Homer, 2005). While currently the exact cause is unknown, there have been several risk factors that are recognized to contribute to the disease. As mentioned above, smoking, exposure to inhaled toxins such as asbestos, lung injury, viral and bacterial infections, acid reflux and genetics are associated with the disease (Noble Homer, 2005). Smoking accelerates the loss of lung function by destroying the cilia inhibiting the lungs natural ability to clean and repair itself (Oh, Murray, Molfino, 2012). Smoking also damages alveoli, causing poor gas exchange. The chemicals in cigarettes contribute to lung decline and disease and coat the lungs with tar and toxins (Oh et al., 2012). Inhaled substance and toxins such as asbestos are hypothesized to increase IPF probability (Meltzer Noble, 2008). When toxins invade the lungs, they interfere with the alveoli gas exchange process (Meltzer Noble, 2008). Lung injury can cause permanent damage. Acute lung injury has been hypothesized to accelerate an underlying progression of IPF. When cells of the lungs are damaged, it can be irreversible (Kottmann, Hogan, Phipps, Sime, 2009). Viral and bacterial infections cause a build of mucus in the lungs. When the alveoli get clogged they cannot properly exchange oxygen and carbon dioxide. Each infection acquired can cause more damage and can lead to permanent damage. When the lungs lose their ability to exchange gas, oxygen is inhibited from reaching the body’s vital organs (Kottmann et al., 2009). GER, commonly known as acid reflux, occurs when acid is aspired into the esophagus. â€Å"Researchers have found that 9 out of 10 people who have IPF also have gastroesophageal reflux disease† (â€Å"What Causes Idiopathic Pulmonary Fibrosis? NHLBI, NIH,† n.d.) Recent research has found that genetics may play an important role in the risk factor of developing IPF. â€Å"Over the past decade, one aspect that has held great promise in helping the medical community to better define the pathogenesis of IPF is the recognition that genetic factors may play a role in this disease† (Lawson, Loyd, Degryse, 2011). Pathophysiology The cause of IPF is unknown. Despite considerable advancement in understanding the progression of IPF, the knowledge of the beginning stages of IPF re still inadequately understood (Noble Homer, 2005). Originally, in the 1970’s, it was thought that inflammation of the alveoli was the cause (Noble Homer, 2005). It was believed that untreated inflammation leads to the scarring of the lungs. Anti-inflammatory and corticosteroids were widely used to treat the inflammation. However, those therapies have proven ineffective, making it evident that inflammation was not the cause (Dempsey, Kerr, Gomersall, Remmen, Currie, 2006). The second theory that came about in the 1980’s suggesting growth termed â€Å"alveolar macrophage-derived growth factor† (Noble Homer, 2005). Known as the ‘growth factor hypothesis’, it is believed that abnormal healing of trauma within the lungs exaggerates the response and growth of profibrogenic causing the scarring of IPF (Noble Homer, 2005). This theory still proves to be a highly important discovery in the pathophysiology of IPF (Dempsey et al., 2006). A third theory also came out of the 1980’s, known as the epithelial-mesenchymal hypothesis, suggests that tissue death of alveolar epithelial cells can lead to alveolar collapse (Noble Homer, 2005). The epithelial- mesenchymal cell conversion can alter and change motility and the ability to heal. â€Å"Imbalance of the normal homeostatic microenvironment might be, per se, a cause of fibroblast proliferation and myofibroblast differentiation leading to fibrosis† (Prunotto et al., 2012). Clinical Manifestation According to the Coalition for Pulmonary Fibrosis, â€Å"Idiopathic pulmonary fibrosis (IPF) is a progressive and generally fatal disease characterized by scarring of the lungs that thickens the lining of the lungs, causing an irreversible loss of the tissue’s ability to transport oxygen. IPF ultimately robs a patient of the ability to breathe†(â€Å"Facts About Idiopathic Pulmonary Fibrosis | Coalition For Pulmonary Fibrosis,† n.d.). IPF usually occurs in older adults in their 50’s or 60’s, and tends to occur more in men than in women (Lawson, Loyd, Degryse, 2011). According to the Coalition For Pulmonary Fibrosis, IPF affects about 128,100 people in the United States, with 48,000 new cases diagnosed annually (â€Å"Facts About Idiopathic Pulmonary Fibrosis | Coalition For Pulmonary Fibrosis,† n.d.). â€Å"IPF has been reported to occur throughout the world in many different racial and ethnic groups. Studies in the United States have sugge sted that Caucasians are more likely to be diagnosed with IPF and have higher mortality rates from IPF than African Americans. It is unclear if these findings are due to real differences in racial characteristics or to an under-diagnosis of this condition in minority populations† (Siegel, 2011). IPF symptoms develop over time and usually are not diagnosed until serious damage has already been done to the lungs (â€Å"What Are the Signs and Symptoms of Idiopathic Pulmonary Fibrosis? NHLBI, NIH,† n.d.). Patients are often misdiagnosed with diseases that present similar symptoms such as Chronic Obstructive Pulmonary Disorder (â€Å"Facts About Idiopathic Pulmonary Fibrosis | Coalition For Pulmonary Fibrosis,† n.d.). Idiopathic pulmonary fibrosis usually present gradually with a nonproductive cough and dyspnea. (Hyzy, Huang, Myers, Flaherty, Martinez, 2007). The main symptom patients complain of being shortness of breath (Noble Homer, 2005). Other common symptoms include: â€Å"dry, hacking cough; rapid, shallow breathing; gradual, unintended weight loss; Fatigue (tiredness) or malaise (a general feeling of being unwell); clubbing, which is the widening and rounding of the tips of the fingers and toes† (â€Å"What Are the Signs and Symptoms of Idiopathic Pulmonary Fibrosis? NHLBI, NIH,† n.d.). The gold standard for diagnosis of patients with IPF is a surgical lung biopsy (SLB), however critical risk for these patients usually prevent a high-risk surgical procedure (Kaarteenaho, 2013). â€Å"The mortality, which can occur shortly after the procedure, has probably been the major reason to refrain from performing SLB† (Kaarteenaho, 2013). With that in mind, diagnosis of IPF includes clinical, radiologic and histopathologic aspects (Wolters, Collard, Jones, 2014). The American Thoracic Society states, â€Å"in the absence of a definitive lung biopsy, the presence of all four major criteria and three minor criteria, as set forth in the current guidelines, increases the likelihood of a correct diagnosis of IPF: Major Criteria †¢Exclusion of other known causes of interstitial lung diseases, such as certain drug toxicities, environmental exposures, and connective tissue diseases †¢Abnormal pulmonary function studies that include evidence of restriction (reduced vital capacity often with an increased FEV:FVC ratio) and impaired gas exchange (increased AaPO2 with rest or exercise or decreased DLCO) †¢HRCT scan showing bibasilar reticular abnormalities with minimal ground-glass opacities †¢Transbronchial lung biopsy or BAL showing no features to support another diagnosis Minor Criteria †¢Age >50 years †¢Insidious onset of otherwise unexplained dyspnea on exertion †¢Duration of illness greater than or equal to 3 months †¢Bibasilar inspiratory crackles (dry or â€Å"Velcro-like† in quality)† (Raghu et al., 2011). The physical assessment is an important part of diagnosis, however, symptoms can mimic other diseases and make it hard to differentiate (Meltzer Noble, 2008). Attention should be paid to key risk factors such as work related inhaled chemical exposure and smoking. Fine inspiratory â€Å"Velcro-like† crackles can be heard upon examination and advance towards the upper airway as the disease progresses (Meltzer Noble, 2008).Clubbing of the fingers and toes is found in 50% of patients (Meltzer Noble, 2008). Lab results are often inconclusive to IPF, but as part of a puzzle can help to identify the disease. An ABG will more than likely read normal (Meltzer Noble, 2008). The pulmonary function test (PFT) can lend valuable information to diagnosing IPF. While IPF is a restrictive disease, it can often imitate obstructive disorders or congestive heart failure (CHF) (Meltzer Noble, 2008). â€Å"Routine spirometry reveals decreased measures of forced vital capacity (FVC) and forced expiratory volume in one second (FEV1). The ratio of FEV1/FVC remains normal (or increased) in IPF, consistent with restrictive physiology† (Meltzer Noble, 2008). Subsequently, the PFT can also reveal reduced TLC, RC, and RV. Reduced gas transfer may also be noted with a DLCO (Meltzer Noble, 2008). Almost every patient with Idiopathic Pulmonary Fibrosis will have abnormal radiological findings (Meltzer Noble, 2008). The imaging modality of choice in diagnosing IPF is High-resolution computed tomography (HRCT) (Hospenthal, 2006). â€Å"Patchy, predominantly peripheral, subpleural, bibasal reticular opacities, often associated with traction bronchiectasis† (Harari Caminati, 2005). A phenomenon referred to as honeycombing is a prevalent finding in IPF, seen below is figure 3. Figure 1: Chest radiograph of a patient with IPF. Chest radiograph reveals peripheral, subpleural reticular opacities, most profuse at the lung bases (Harari Caminati, 2005). Figure 2: Chest HRCT in a patient with IPF. HRCT shows patchy, predominantly peripheral, subpleural, bibasal reticular abnormalities, traction bronchiectasis and bronchiolectasis and irregular septal thickening. There is also ground glass (Harari Caminati, 2005). Figure 3: Chest HRCT in a patient with IPF. HRCT shows predominantly peripheral and subpleural fibrosis with honeycombing (Harari Caminati, 2005). Complications Idiopathic pulmonary fibrosis is a highly progressive disease. Because the tissues in the lungs are scarred, they cannot properly exchange gas and the low amount of oxygen delivered to the body causes several complications and puts strain on the right side of the heart. According to the America Thoracic Society, â€Å"There is an increasing awareness of complications and comorbid conditions frequently associated with IPF† (Raghu et al., 2011). Some of the most common complications are: Pulmonary hypertension, cor pulmonale, respiratory failure and lung cancer (Daniels, Yi, Ryu, 2008). Depression is also often seen in people with IPF because of its devastating prognosis (â€Å"Living With Idiopathic Pulmonary Fibrosis NHLBI, NIH,† n.d.). Acute exacerbations (unexplained worsening of dyspnea) of IPF represent the most destructive and deadly complication (Raghu et al., 2011). â€Å"It is presently unclear if acute exacerbation of IPF is simply a manifestation of an unid entified respiratory complication (such as pulmonary emboli, infection) contributing to an acute worsening in a patient with IPF or represents an inherent acceleration in the pathobiological processes involved in IPF† (Raghu et al., 2011). Medical Management There is currently not a cure for idiopathic pulmonary fibrosis (â€Å"What Is Idiopathic Pulmonary Fibrosis? NHLBI, NIH,† n.d.). Until recently, primary methods of management have been anti-inflammatories and lung transplants (Dempsey, Kerr, Gomersall, Remmen, Currie, 2006). While Anti-inflammatory are still used today it is not due to the effectiveness of treatment, but lack thereof for alternatives (Dempsey et al., 2006).â€Å"Immunosuppressive or cytotoxic agents are used among steroid nonresponders, patients experiencing serious adverse effects from corticosteroids, and patients at high risk for corticosteroid complications† (Harari Caminati, 2005). â€Å"Single-lung transplantation results in an actuarial survival of 73% at 1 year and 57% at 3 years† (Harari Caminati, 2005). Unfortunately, most patients are not eligible for transplant due to age or comorbidity factors (Harari Caminati, 2005). In the spring of 2014 the FDA announced two new drugs for the management of IPF (â€Å"CPF Celebrates Historic Year of Progress in Pulmonary Fibrosis | Coalition For Pulmonary Fibrosis Coalition For Pulmonary Fibrosis,† n.d.). Ofev (nintedanib) and Esbriet (pirfenidone) were both shown to slow the progress of IPF in clinical trials. â€Å"Pirfenidone is a transforming growth factor-beta inhibitor and tumor necrosis factor-alpha inhibitor† (Gohil, 2015). Ofev is a â€Å"fibroblast growth factor receptor (FGFR) antagonist, platelet-derived growth factor receptor (PDGFR) antagonist, and vascular endothelial growth factor receptor (VEGFR) antagonist† (Gohil, 2015). The two treatments are still in the early stages with little known about their effectiveness. Prognosis Prognosis for IPF is dim. It is a fatal disease (Meltzer Noble, 2008). The median survival rate is 3 years after diagnosis (Peljto et al., 2013). Factors associated with â€Å"shortened survival time include: older age, smoking history, lower body mass index (BMI), more severe physiologic impairment, greater radiologic extent of disease, and the development of other complications or conditions, in particular, pulmonary hypertension, emphysema, and bronchogenic cancer† (Ley, Collard, King, 2011). Clinical Trials During the past decade, there has been a notable amount of research into the treatment of idiopathic pulmonary fibrosis. IPF is no longer believed to be due to inflammation, but multiple injuries with atypical cell repair. According to The Coalition for Pulmonary Fibrosis, â€Å"there are many therapies under investigation in clinical trials that include: †¢Antifibrotic or antifibrogenic agents (such as Pirfenidone, interferon and certain blood-pressure-lowering medications) to suppress the scarring process †¢Antioxidants (such as N-acetylcysteine) to prevent damage to lung tissue †¢Monoclonal antibodies to inhibit â€Å"bad† cytokines (protein growth factors, such as TGF-beta, TNF-Alpha, or CTGF, that activate inflammation)† (â€Å"Active Clinical Trials and Investigational Research in IPF | Coalition For Pulmonary FibrosisCoalition For Pulmonary Fibrosis,† n.d.). References Active Clinical Trials and Investigational Research in IPF | Coalition For Pulmonary FibrosisCoalition For Pulmonary Fibrosis. (n.d.). Retrieved February 17, 2015, from http://www.coalitionforpf.org/active-clinical-trials-and-investigational-research-in-ipf/ Facts About Idiopathic Pulmonary Fibrosis | Coalition For Pulmonary FibrosisCoalition For Pulmonary Fibrosis. (n.d.). Retrieved February 17, 2015, from http://www.coalitionforpf.org/facts-about-idiopathic-pulmonary-fibrosis/ Hospenthal. (2006). Diagnosis and management of idiopathic pulmonary fibrosis: Implications for respiratory care. Respir Care, 51, 382–391. Retrieved from http://www.ncbi.nlm.nih.gov/pubmed/16563193 Hyzy, R., Huang, S., Myers, J., Flaherty, K., Martinez, F. (2007). Acute exacerbation of idiopathic pulmonary fibrosis. Chest, 132, 1652–1658. doi:10.1378/chest.07-0299 Kaarteenaho, R. (2013). The current position of surgical lung biopsy in the diagnosis of idiopathic pulmonary fibrosis. Respiratory Research, 14, 43. doi:10.1186/1465-9921-14-43 Lawson, W. E., Loyd, J. E., Degryse, A. L. (2011). Genetics in pulmonary fibrosisfamilial cases provide clues to the pathogenesis of idiopathic pulmonary fibrosis. The American Journal of the Medical Sciences, 341(6), 439–43. doi:10.1097/MAJ.0b013e31821a9d7a Ley, B., Collard, H. R., King, T. E. (2011). Clinical course and prediction of survival in idiopathic pulmonary fibrosis. American Journal of Respiratory and Critical Care Medicine, 183(3), 431–440. doi:10.1164/rccm.201006-0894CI Meltzer, E. B., Noble, P. W. (2008). Idiopathic pulmonary fibrosis. Orphanet Journal of Rare Diseases, 3, 8. doi:10.1186/1750-1172-3-8 Noble, P. W., Homer, R. J. (2005). Back to the future: Historical perspective on the pathogenesis of idiopathic pulmonary fibrosis. American Journal of Respiratory Cell and Molecular Biology, 33(8), 113–120. doi:10.1165/rcmb.F301 Peljto, A. L., Zhang, Y., Fingerlin, T. E., Ma, S.-F., Garcia, J. G. N., Richards, T. J., †¦ Schwartz, D. A. (2013). Association between the MUC5B promoter polymorphism and survival in patients with idiopathic pulmonary fibrosis. JAMA, 309(21), 2232–9. doi:10.1001/jama.2013.5827 Raghu, G., Collard, H. R., Egan, J. J., Martinez, F. J., Behr, J., Brown, K. K., †¦ Schà ¼nemann, H. J. (2011). An Official ATS/ERS/JRS/ALAT Statement: Idiopathic pulmonary fibrosis: Evidence-based guidelines for diagnosis and management. American Journal of Respiratory and Critical Care Medicine, 183, 788–824. doi:10.1164/rccm.2009-040GL Siegel, M. D. (2011). Breathing in America: Diseases, Prognosis, and Hope. Critical Care Medicine, 39, 1857. doi:10.1097/CCM.0b013e31821b1e92 What Are the Signs and Symptoms of Idiopathic Pulmonary Fibrosis? NHLBI, NIH. (n.d.). Retrieved February 17, 2015, from http://www.nhlbi.nih.gov/health/health-topics/topics/ipf/signs What Is Idiopathic Pulmonary Fibrosis? NHLBI, NIH. (n.d.). Retrieved February 14, 2015, from http://www.nhlbi.nih.gov/health/health-topics/topics/ipf Wolters, P. J., Collard, H. R., Jones, K. D. (2014). Pathogenesis of idiopathic pulmonary fibrosis. Annual Review of Pathology, 9, 157–79. doi:10.1146/annurev-pathol-012513-104706

Geoffrey Chaucers The Canterbury Tales English Literature Essay

Geoffrey Chaucers The Canterbury Tales English Literature Essay Life in England wasnt always easy in the early fourteenth century. On the surface, it looked as if nothing was going on but everyday life; however, In Geoffrey Chaucers The Canterbury Tales, it is revealed that you cant always believe what is on the outside. A group of travelers gather together at Tabard Inn to begin a pilgrimage to Canterbury. In the General Prologue, the readers are introduced to each of these characters. The stories which range from animal fables to epics about love and comedies of sexual comeuppance (Chaucer) are important factors in the story. During the pilgrimage, each traveler has to tell two stories on the way to Canterbury, and on the way back. Chaucer wrote the story around the late thirteen hundreds, but it was meant for a private reader because of its controversial stories. He died before he could finish the tale. He used the pilgrimage to create literary works that could last over a hundred years. Chaucers precise description of the harsh reality of soc iety includes controversial topics like the corruption of church, sexuality, and abuse of power; but regardless to say, Chaucers story helps unravel some of the corruption in society. In England, life was not easy for everyone. There was famine, poverty, corruption in politicians and people of high status. By the late fourteenth century, the Catholic Church, which governed England, Ireland, and the entire continent of Europe, had become extremely wealthy. It cost a lot of money to build and decorate the lavish cathedrals. The leaders of lay society were less patient with the special privileges of the clergy; laymen of all ranks questioned the vast wealth of the church wealth that was not all that much greater than before, but which seemed more irritating; and many genuinely religious people, lay and clerical both, criticized the spiritual failures of the church (Muhlberger). Due to expenses caused by war, and many deaths by the Black Plague, many people have lost patience with the church because of how it seemed like the church and its clergymen seem to have a more luxurious life compared to others. This triggered many stories and tales about how the church was g reedy and selfish. The religious figures Chaucer represents in The Canterbury Tales all deviate in one way or another from what was traditionally expected of them (Spark Notes Editors). The characters themselves are just the stereotypical representations of how religious figures acted during this time. The Monk, Prioress, and the Friar were religious figures, but in the general prologue, it is revealed that they are not who they seem to be. For example, the Prioress (a nun who is head of her convent) was described as modest and quiet, she aspires to have exquisite taste, and dressed very lavish and lived a life that most nuns do not. Of smale houndes hadde she that she fedde with rosted flesh, or milk and wastel-breed (Chaucer 5), in translation it says that she gave roasted mean or milk and bread to her dogs. During this century, there was a lot of famine and poverty. Many people could even afford milk and bread, so the fact that the Prioress can give her food generously to animals instead of sharing with others is an ironic representation of a nun who are usually kind and sharing. Another example of the representation is of the Monk. Most monks devote there life to work and prayer, and lived in monasteries, but the Monk on the pilgrimage didnt care for this rule. He enjoys hunting and eating as his pastimes instead of prayer and fasting. It is ironic because Monks are typically known for the quite calm nature, and love of life and gods creatures, and in this case the Monk enjoys hunting down the creatures he is supposed to love. Chaucers stereotypical representation of the characters doesnt represent everyone of the profession, just the ones on the pilgrimage. As stated earlier, it was a common stereotype that religious figures often abused their power for greed; in which some cases took advantage of the position they hold to cease opportunities for personal gain. It is human nature to want to have dominance over others and control over their lives. Some people just want power to be understood and treated better. Like the Wife of Bath, who used her story to send a message to the other men in the journey. The wife of bath told a story of a Knight who rapes a young maiden because he felt that he had the power to do so because of his authority. He was sentenced to death but the Wife gave him one chance to make amends, Thou standes yet, in swich array that of thy lyf yet hastow no suretee. I grante thee lyf, if thou kanst tellen me what thing is it that women moost desiren (Chaucer 182). A year later, he returns to the castle with an old hag who had given him the answer in exchange for any request she wanted. He told the Wife of Bath that what women wanted most was to have control over their husbands and lovers. The queen decreed that the knight was to be pardoned, but he was in horror because he was forced to marry the Hag. Over the next few days , the wife of the knight confronts him as to why he is acting repulsed by her. The women tells the knight that beauty is only skin deep, and that even though you are at of a high status in social hierarchy, it doesnt make you better then the peasants on the lower level. In essence, the Hag can represent the Wife of bath who is telling the story, because later on she turns into a beautiful maiden when the knight surrenders himself to her control. She wants to be considered beautiful and have power over her husbands, where as she has had five marrages already. The Wife of Baths story shows the significance of sexuality during this time, because back then it was common to not treat females right, it was a male dominated world. But her story shows that in some cases, bad men can change, and that women can have influence upon their lovers. Now not every male can be converted like the knight in the Wife of Baths tale, because in reality not all mens pride allows them to let their lovers dominate them. Although sex paid an important role in society, whereas being a male means that you have more dominance and power than others, it doesnt mean that all men use their powers wisely. Many of the religious figures in the Canterbury tales often abused their power, which can add on to the assumption that the Church of England was corrupted. The Friars and Summoners took advantage of the jobs they had. The Friars were traveling priest who spread religion in a wide, diverse area, along with collecting money for the church. In the story, the Friar was said to have taken advantage of people who wanted to atone for their sins. He would travel from town to town and demanded bribes when peasants and lords wanted to have penance for the sins they have committed. He would also take advantage of women. The friar can be seen as a symbol of corruption, because he uses his power as a man of god to gain money for himself, instead of fulfilling his duties for the lord. During the Pilgrimage, the Friar and Summoner often got into arguments because they did the same thing, take advantage of others and collected money. This clearly is an act of corruption, in our viewpoint it looks as if the church is the cause of the problem, but thats not always the case. It is the actions of an individual that creates the conflicts in society, not the group the person is associated with. Chaucer used the Canterbury tales to show how the church was assumed to be corrupted because of how people took advantage of their power. People took advantage of social status and people without knowledge to make money for personal gain. These people who have grown wealthy had stained the church during the time. During the Fourteenth century, the roles of sexuality led to several factors. Whether you were male or not determined how others treated you and what you were able to do, thus creating a need for power in the more neglected side as stated in the Wife of Baths tale. This abuse of power feeds those who prefer to advance their own selfish ambitions rather than help others for the good of man, which inevitably caused many to believe in the corruption of the church. Chaucers Canterbury tales helped readers see the darker part of society, whereas those do whatever they can to survive and for happiness, neglected who they affect in the process. Works Cited Page Chaucer, Geoffrey. Canterbury Tales. Alfred A. Knope, INC., 1958. 607. Print. Halliday, F.E. A Concise History of England. New York: Viking Press, 1965. Print. Muhlberger, Steven. Religious Conflict in Fourteenth-Century England. The Orb. Steven Muhlberger, n.d. Web. 15 Dec 2010. . SparkNotes Editors. SparkNote on The Canterbury Tales. SparkNotes.com. SparkNotes LLC. 2003. Web. 1 Dec. 2010.