August and December

The time allocated for teaching and learning is a factor influencing pupils' academic performance. There are three school terms every year with holidays in between in the months of April, August and December.Research has shown that majority of schools start learning after the first week of the school term. This indicates that there is a lot of time wastage before learning begins. Besides,most schools loose many teaching/ learning hours at the beginning of the term. This wastage leads to less work being covered and syllabus not being completed on time hence contributing to poor performance in KCPE examinations. b. Adequacy of Learning Resources: The adequacy and use of teaching and learning materials affects the effectiveness of a teacher's lesson.Teaching and learning esources enhances understanding of abstract ideas and improves performance. Adequate learning resources like text books,improvised weather instruments,relevant child friendly library books, wall maps and the exercise bo oks are of paramount importance. This makes learning easier of subjects like Social Studies very abstract to the pupils. Further still,it has been proven that school facilities have a direct effect on teaching and learning. Text books enable the pupils to follow the teacher's sequence of presentation and aids in understanding of lessons. . School Administration :The quality of school administration plays a vital role in academic performance as it is concerned with pupils, teachers, rules, regulations and policies that govern the school system. In analyzing the efficiency of school administration, the following aspects ought to be considered: Frequency of staff meetings Frequency of checking teachers' schemes of work and lesson plans Adequacy of teachers' prior preparation Frequency of class observation by the head teacher. Few staff meetings may lead to less co-ordination of curriculum implementation.This an lead to less monitoring and reporting of the progress of the schools activi ties to the teachers . Frequency of Checking Teachers' Schemes of work: The responsibility of checking the professional documents like teachers' schemes of work and lesson plans lies in the hands of the head teacher. This may be done in person or he may delegate to the deputy head teacher or the senior teacher. Preparation and use of schemes of work by the teachers enhances sequential teaching and results to improved achievement.Checking of teachers schemes of work should be done frequently to allow the head teacher monitor curriculum implementation. Frequency ot Checking the Teachers' Lessons Plans :Teacners' lesson plan is a protessional document prepared by teachers for the purpose of presentation of a lesson. The teacher indicates whether the lesson has been taught and objectives achieved; if the lesson is not taught, then the teacher indicates the reason why and when he intends to cover it; if the lesson objectives are not achieved, the teacher plans for remedial lesson in orde r to make the concept understood by the pupils.Head teachers should monitor lesson plan preparation frequently; otherwise it may lead to poor erformance. Adequacy of Teachers' Prior Preparation: Adequate prior preparation before a teacher goes to class leads to good performance by the pupils. This promotes sequential presentation of concepts by the teacher to the learners. Always, prior preparation by the teachers leads to systematic delivery of concepts to pupils and enhances performance. Observation of Classes by Head teachers: One of the roles of the head teacher is to carry out internal supervision of curriculum implementation in his/her school.This involves physical observation of teachers' lessons in progress. One of the head teachers' roles is regular class supervision in order to promote curriculum goals. Failure to do so may lead to poor performance. 2. Teacher-Based Factors These are the factors within the teachers that could hinder or promote academic performance of pupil s in their schools. The following are some of the aspects of teacher based factors: Teachers' commitment Teachers' frequency of absenteeism Teachers' motivation Teachers' work load.Teachers' Commitment Level: Good performance is as a result of high commitment levels by the teachers. Studies shows that teachers who lack enthusiasm are unable o teach effectively, making pupils not to learn well. Frequency of Absenteeism among Teachers: When teachers absent themselves from school frequently, pupils go unattended and do not do well in examinations. Absenteeism by teachers reduces the amount of instructional time and this result in the syllabus not being completed. This in return results to lower output of work by the pupils.Teachers' Motivation:A World Bank Report (1986) acknowledges that teacher satisfaction is generally related to achievement as satisfied teachers would concentrate hence enhancing academic performance of their pupils. Teacher Turn-over Rate:lf the teacher turn-over ra te is high then it can contribute to poor performance in examinations. According to Schneider (2003) high teacher turn over forces schools to devote attention, time and financial resources attracting replacement of teachers. Teachers' Workload: This is the number of lessons teachers take per week.If teachers are not overloaded their output in terms performance should be good. 3. PUPlLS BASED FACTORS These are the factors within the pupils that could enhance or hinder their academic performance. The following are some aspects under pupil-based factors: 1. Pupils' language use 2. Pupils' rate of absenteeism 3. Pupils' lateness to school. Pupils' Language Use: Pupils who interact using English language tend to understand it better and do well in examinations as all examinations apart from Swahili are written in English language.It is equally true that leaner who also interact well using Swahili language will pass the Swahili exam. Therefore,both languages must be encouraged in equal me asure by the teachers,parents and the larger community. Pupils' Frequency of Absenteeism: These is the aspect of how frequent pupils absent themselves from school. When pupils absent themselves from school, they tend to lose many concepts and definitely may not do well in exams. The effect of absenteeism and irregular school attendance is that materials taught are difficult to understand when studied on one's own.Continued loss of classes results to loss of content and knowledge. Class assignments,exercises,homework and holiday homework would not be properly and correctly done leading to poor performance. 4. Community-Based Factors Community based factors are factors within the community that impede or enhance pupils' academic performance. In analyzing the community based factors, the following aspects can be looked into: a) Parents' Consultation with Teachers:Good performance is realized when parents work in consultation with the teachers in order to understand their children bette r.Studies shows that most often parents do not consult teachers and that most parents were not so much concerned about education of the children. Bogus (2004) indicated that parents' interaction with teachers enables them to know what their children are encountering in school and what could be done to deal with the problems. It would also put pupils on alert and tudy in school as they would know that their parents would inquire about their performance.

Psychology of Spending: Where Does Belt-Tightening Begin?

The Psychology of Spending analyzes consumer’s ideals of the scarcity principle – in which, consumers are mentally forced to buy certain brands as they have before. The high costs of their choices make no difference even after their economic status is not as unique as it was once before. For example, the Water-Diamond scenario in which we will pay thousands of dollars for a diamond, but we will not pay thousands of dollars for a bottle of water. Our mental state of underestimating its value because it is a ‘need’ makes us consider it invaluable by numbers. Every consumer has encountered these kinds of thoughts pertaining to their buying habits in different perspectives. We could also address the issues of supply and demand. Luxury goods are in demand because of the advanced technology we are experiencing in our New Economy. We have found ourselves trapped in securing the newest trend because of the gadgets, computers, cell phones, and other accessories around us everyday. You can notice these triggering children to purchase their own cell phones because it is now a need – not a want. Cell phones have trampled into the same estate as water in the water-diamond scenario. We consider cell phones as invaluable goods for keeping in touch with our friends and family around the world. The ultimate ‘need’ comes from feeling inadequate or isolated without one so our demand increases to where we must purchase accessories as well. According to the article, the high-end wants are really needs now due to the vanity and exposure to as many choices as possible. Consumers have more than enough to consider when they want to buy products. Generic products are slowly, but surely losing the interests of these buyers. The marginal utility of large net worth has declined as more and more luxury goods are being produced. As aforementioned earlier, the demand for luxuries has increased and the suppliers are interested in increased sales – so they have given the strength of the ‘scarcity’ rule away to growth. For example, they could increase the price of their merchandise if every high-end retailer produces no more than 40,000 units of their product. The product’s marginal utility will remain at its best possible light to the consumer’s eye. A well-known factor, which was mentioned in The Psychology of Spending, is the wealthy household’s attempts to buy large amounts of land no matter what the economic status is. Other issues arise in comparison to their counterparts in the luxurious industries. Some indirect factors that corner the marginal utility of luxury goods is the quality of the resources used to produce the goods. If the quality of the resources is reduced, the probability of increased sells could remove the ‘high-end’ aspect of the products. We will be used to the products and then ‘anyone’ can get it so it will not be considered high quality or high-end anymore. Properties over the $10,000,000 are probable to a decline in net worth if more products are created with their same unique characteristics. More interest rates will appear viable to the consumers, but their efforts in securing the products will increase due to their ideal of ‘scarce’ resources available. A discontinuation of a certain production will and could, harness the power for its collectibles to cost more. According to the Psychology of Spending, the monetary means or sense of superiority means a lot to the public. We are more than anxious enough to buy the newest trends without a second thought. If the new trend costs more than our capabilities, we will have to worry about the possibility of not ‘being in style’. The article’s outline of the economy during 2000 would be changed in today’s time. Our nation is experiencing a new, inaccurate development in which prices are increased due to the war. We, as consumers, have changed our buying habits a little bit but not much compared to the purchases made in 2000. Newer, faster, and cheaper products have caught our attention and the internet’s flourishing marketplace has given all consumers – wealthy and lower income- the same opportunity to buy these goods. As a mechanism to the psychological attachment to more money means more power, we can conclude that all high-end products are being purchased about 2% from the higher-income families. A majority of these implications can trigger a more thorough understanding of why the lower-income families are attempting to buy these products as well. None the less, their ability to manufacture or overproduce these products has lost its initial marginal utility it once had. In today’s society, these products do not create a ‘high’ as they once did. The consumers know that anyone can buy it at any price. Discount retailers have placed some sophisticated names on the shelves to attract their income counterparts for more information. We can expect this to continue until many consumers decide that their labels mean nothing – naturally. Some of the best products are left to the generic manufacturers whom will need those materials for a competitive advantage. As remarkable as this change is to our society, the distinctive features of these high-end products are slowly leaving the market. Imitative strategies have stripped the meaning of ‘brand’ and consumers are still buying these products without regard to their tastes. More than enough companies are losing the whole perspective of re-establishing their economic strategy to remain at the top of their industry. We can only wish for our buying habits to sway into finding a more distinguished product to assist in our highs. Â  

Women of the Tenth Century Notable Medieval Women

In the tenth century, a few women achieved power but almost entirely through their fathers, husbands, sons, and grandsons. Some even served as regents for their sons and grandsons. As Europes Christianization became nearly complete, it was more common for women to achieve power by founding monasteries, churches, and convents. Womens value to royal families was mainly as childbearers and as pawns to move around in dynastic marriages. Occasionally, women (like Aethelflaed) led military forces, or (like Marozia and Theodora) wielded direct political power. A few women (like Andal, Lady Li, and Hrosvitha) achieved prominence as artists and writers. Saint Ludmilla:  840 - 916 Ludmilla raised and educated her grandson, a duke, and the future Saint Wenceslaus. Ludmilla was key in the Christianization of her country. She was murdered by her daughter-in-law Drahomira, a nominal Christian. Ludmilla was married to Borivoj, who was the first Christian Duke of Bohemia. Ludmilla and Borivoj were baptized about 871. Conflict over religion drove them from their country, but they were soon recalled and ruled together for seven years more.  Ludmilla and Borivoj then resigned and turned over rule to their son Spytihnev, who died two years later. Another son Vratislav then succeeded. Married to Drahomira, a nominal Christian, he left his eight-year-old son Wenceslaus to rule. Wenceslaus had been raised and educated by Ludmilla. Another son (perhaps a twin) Boreslav the Cruel was raised and educated by his father and mother. Ludmilla continued to influence her grandson, Wenceslaus. Reportedly, pagan nobles stirred up Drahomira against Ludmilla, resulting in the murder of Ludmilla, with Drahomiras participation. Stories say she was strangled by her veil by noblemen at Drahomiras instigation. Ludmilla is venerated as a patron saint of Bohemia. Her feast day is September 16. Father: Slavibor, Prince of Psov(?)Mother: unknownHusband: Borivoj (Boriwoi), Duke of BohemiaChildren:Spytihnev (Spitignev)Vratislav (Wratislaw, Radislav) I, Duke of Bohemia; married DrahomiraGrandchildren:Boreslav (Boleslaw, Boleslaus) I the CruelSaint Wenceslaus (Wenceslas, Vyacheslav) I, Duke of BohemiaStrezislava of Bohemia (?) Aethelflaed, Lady of the Mercians: ? - 918 Aethelflaed was a daughter of Alfred the Great. Aethelflaed became a political and military leader when her husband was killed in battle with the Danes in 912. She went on to unify Mercia. Aelfthryth (877 - 929) She’s known mainly as a genealogical link of Anglo Saxon kings to the Anglo-Norman dynasty. Her father was Alfred the Great, her mother Ealhswith, and her siblings included Aethelflaed, Lady of the Mercians, Aethelgifu, Edward the Elder, Aethelweard. Aelfthryth was raised and educated with her brother, Edward, a future king. She was married to Baldwin II  of Flanders in 884, as a way of solidifying an alliance between the English and the Flemish to oppose the Vikings. When her father, Alfred, died in 899, Aelfthryth inherited several properties in England from him. She donated several of these to the abbey of St. Peter in Ghent. Aelfthryths  husband Baldwin II died in 915. In 917, Aelfthryth had his bodied moved to the abbey of St. Peter. Her son, Arnulf, became the count of Flanders after his fathers death. His descendant Baldwin V was the father of  Matilda of Flanders  who married William the Conqueror. Because of Aelfthryths heritage as a daughter of the Saxon king, Alfred the Great, the marriage of Matilda to the future Norman king, William, brought the heritage of the Saxon kings back into the royal line. Husband: Baldwin II, Count of Flanders, son of  Judith of France, who had briefly been a stepmother and then sister-in-law to Aelfthrgyths father, Alfred the Great (married 884)Children: Arnulf I of Flanders, Adalulf, Count of Boulogne, Ealswid, Ermentrud Also known as:  Eltrudes (Latin), Elstrid Theodora: ? - 928 She was a senatrix and serenissima vestaratrix of Rome. She was the grandmother of Pope John XI; her influence and that of her daughters was called the Rule of the Harlots or the pornocracy. Not to be confused with the Byzantine empress Theodora.  This Theodora’s alleged lover, Pope John X, whose election as Pope she supported, was allegedly murdered by Theodora’s daughter, Marozia, whose father was Theodora’s first, Theophylact. Theodora is also credited as the grandmother of Pope John XI and great-grandmother of Pope John XII. Theodora and her husband Theophylact were key influences during the papacies of Sergius III and Anastasius III. Later stories associated Sergius III with  Marozia, daughter of Theophylact and Theodora, and claim that the future Pope John XI was their illegitimate son, born when Marozia was only 15 years old. When John X was elected Pope it was also with the support of Theodora and Theophylact. Some stories claim that John X and Theodora were lovers. Husband: TheophylactDaughter: MaroziaDaughter: Theodora (confused by historian Edward Gibon with her mother)Rumored to be the mistress of Pope John X and Pope Sergius III An example of historians judgment of Theodora and Marozia: Towards the beginning of the tenth century a powerful noble, Theophylact, aided by his beautiful and unscrupulous wife, Theodora, secured control of Rome. Their daughter  Marozia  became the central figure of a corrupt society which completely dominated both the city and the papacy. Marozia herself married as her third husband Hugh of Provence, then king of Italy. One of her sons became pope as John XI ( 931-936), while another, Alberic, assumed the title of prince and senator of the Romans and ruled Rome, appointing four popes in the years 932 to 954. (from: John L. Lamonte,  The World of the Middle Ages: A Reorientation of Medieval History, 1949. p. 175.) Olga of Russia: about 890 - 969 Olga of Kiev was the first known woman to rule Russia, the first Russian ruler to adopt Christianity, the first Russian saint in the Orthodox Church. She was the widow of Igor I, regent for their son. She is known for her role in bringing Christianity to official status in Russia. Marozia: about 892-about 937 Marozia was the daughter of the powerful Theodora (above), as well as allegedly mistress of Pope Sergius III. She was the mother of Pope John XI (by her first husband Alberic or by Sergius) and of another son Alberic who stripped the papacy of much secular power and whose son became Pope John XII.  See her mother’s listing for a quote about Marozia. Saint Matilda of Saxony: about 895 - 986 Matilda of Saxony was the Empress of Germany (the Holy Roman Empire), married to the Holy Roman Emperor Henry I. She was the founder of monasteries and builder of churches. She was the mother of Emperor Otto I, Duke Henry of Bavaria, St. Bruno, Gerberga who married Louis IV of France and Hedwig, whose son Hugh Capet founded a French royal dynasty. Raised by her grandmother, an abbess, Saint Matilda of Saxony was, as were so many royal women, married off for political purposes. In her case, it was to Henry the Fowler of Saxony, who became King of Germany. During her life in Germany Saint Matilda of Saxony founded several abbeys and was noted for her charity. Her feast day was March 14. Saint Edith of Polesworth: about 901 - 937 Daughter of Hugh Capet of England and widow Sigtryggr Gale, King of Dublin and York, Edith became a nun at Polesworth Abbey and Tamworth Abbey and abbess at Tamworth. Also known as:  Eadgyth, Edith of Polesworth, Edith of Tamworth One of perhaps two Ediths who were daughters of King Edward the Elder of England, the history of Saint Edith is ambiguous. Attempts to trace her life identify the mother of this Edith (Eadgyth) as Ecgwyn. Saint Ediths brother, Aethelstan, was King of England 924-940. Edith or Eadgyth was married in 925 to Sigtryggr Gale, King of Dublin and York. Their son Olaf Cuarà ¡n Sitricsson also became King of Dublin and York. After her husbands death, she became a nun and, eventually, abbess at Tamworth Abbey in Gloucestershire. Alternatively, Saint Edith may have been a sister of King Edgar the Peaceful and therefore an aunt of Edith of Wilton. After her death in 937, Saint Edith was canonized; her feast day is July 15. Edith of England: about 910 - 946 Edith of England was the daughter of King Edward the Elder of England, and the first wife of Emperor Otto I of Germany, One of two Ediths who were daughters of King Edward the Elder of England, the mother of this Edith (Eadgyth) is variously identified as Aelflaeda (Elfleda) or Edgiva (Eadgifu). Her brother and half-brothers were kings of England: Aethelstan, Aelfweard, Edmund I and Eadred. Typically for the female offspring of royal rulers, she was married to another expected ruler, but far from home. She married Otto I the Great  of Germany, later Holy Roman Emperor, about 929. (Otto married again; his second wife was  Adelaide.) Edith (Eadgyth) is interred at St. Maurice Cathedral, Magdeburg, Germany. Also known as: Eadgyth Hrosvitha von Gandersheim: about 930 - 1002 Hrotsvitha of Gandersheim wrote the first plays known to be written by a woman, and she is the first known European woman poet after Sappho. She was also a canoness and a chronicler. Her name translates as strong voice. Also known as: Hroswitha, Hrostsvit, Hrotsvithae, Hrosvitha of Gandersheim Saint Adelaide: 931 - 999 Empress Adelaide was Western empress from 962 (consort of Otto I) and later was regent for Otto III from 991-994 with her daughter-in-law Theophano. Daughter of Rudolf II of Burgundy, Adelaide was married to Lothair, king of Italy. After Lothair died in 950 —perhaps poisoned by Berengar II who seized the throne for his son—she was taken a prisoner in 951 by Berengar II who wanted her to marry his son. Otto I the Great of Saxony rescued Adelaide and defeated Berengar, declared himself king of Italy, and then married Adelaide. His first wife was  Edith, daughter of Edward the Elder. When he was crowned as Holy Roman Emperor on February 2, 962, Adelaide was crowned as Empress. She turned to religious activity, promoting monasticism. Together they had five children. When Otto I died and her son, Otto II, succeeded to the throne, Adelaide continued to influence him until 978. He married  Theophano, a Byzantine princess, in 971, and her influence gradually superseded that of Adelaide. When Otto II died in 984, his son, Otto III, succeeded him, though he was only three years old. Theophano, the childs mother, was in control until 991 with Adelaides support, and then Adelaide ruled for him 991-996. Michitsuna no haha: about 935 – about 995 Japanese poet who wrote The Kagero Diary, documenting life in the Japanese court. The diary is known for its critique of marriage.  Her name means â€Å"Mother of Michitsuna.† She was the wife of a Japanese official whose descendants by his first wife were rulers of Japan. Michitsunas diary stands as a classic in literary history. In documenting her own troubled marriage, she helped document that aspect of 10th century Japanese culture. The Kagero Diary (The Gossamer Years) Theophano: 943? – after 969 Theophano was the wife of Byzantine emperors Romanus II and Nicephorus II, and regent for her sons Basil II and Constantine VIII. Her daughters Theophano and Anna married important 10th-century rulers -- the Western emperor and Vladimir I the Great of Russia. Theophanos first marriage was to the Byzantine Emperor Romanus II, whom she was able to dominate. Theophano, along with a eunuch, Joseph Bringus, essentially ruled in her husbands place. She was alleged to have poisoned Romanus II in 963, after which she served as regent for her sons Basil II and Constantine VIII. She married Nicephorus II on September 20, 963, barely a month after he became emperor, displacing her sons.  He ruled until 969 when he was assassinated by a conspiracy that included John I Tzimisces, whose mistress she had become.  Polyeuctus, the patriarch of Constantinople, forced him to banish Theophano to a convent and punish the other murderers. Her daughter Theophano (below) married Otto II, the Western emperor, and her daughter Anna married Vladimir I of Kiev. (Not all sources agree that these were their daughters.) An example of a highly-charged opinion of Theophano—a few quotes from the lengthy  The World of the Middle Ages: A Reorientation of Medieval History  by John L. Lamonte, 1949 (pp. 138-140): he death of Constantine VII was caused in all probability by poison administered to him by his son, Romanus II, at the instigation of his wife Theophano. This Theophano was a notorious courtesan, the daughter of a tavern keeper, who had won the affection of the young Romanus, a dissipated and generally worthless youth, so that he married her and associated her on the throne. With her father-in-law removed and her debauched husband on the throne, Theophano took into her own hands the reins of power, ruling with the advice of the eunuch Joseph Bringas, an old functionary of Constantines.... Romanus departed this world in 963 leaving Theophano a widow at the age of twenty with two small sons, Basil and Constantine. What could be more natural than that the widowed empress should seek a supporter and helpmate in the gallant soldier? Bringas attempted to assume the custody for the two young princes at the death of their father, but Theophano and the patriarch engaged in an unholy alliance to confer the government on the hero Nicephorus†¦. Theophano saw herself now the wife of a new and handsome emperor. But she had been duped; when the patriarch refused to recognize Tzmisces as emperor until he had driven from the Sacred Palace the adulteress . . . who had been the chief mover in the crime he cheerfully repudiated Theophano, who was banished to a nunnery (she was then 27 years old). Emma, Queen of Franks: about 945 – after 986 Emma was married to Lothaire, King of the Franks. Mother of King Louis V of the Franks, Emma is alleged to have poisoned her son in 987. After his death, Hugh Capet succeeded to the throne, ending the Carolingian dynasty and beginning the Capetian. Aelfthryth: 945 - 1000 Aelfthryth was an English Saxon queen, married to King Edgar the Peaceable. After Edgar’s death, she may have helped end the life of her stepson Edward the Martyr so that her son could become King as Aethelred (Ethelred) II the Unready.  Aelfthryth  or Elfrida was the first queen of England known to have been crowned with that title. Also known as:  Elfrida, Elfthryth Her father was Earl of Devon, Ordgar. She married Edgar who died in 975 and was his second wife. Aelfthryth is sometimes credited with organizing, or being part of, a 978 assassination of her stepson Edward the Martyr so that her 10-year-old son Ethelred II the Unready could succeed. Her daughter, Aethelfleda or Ethelfleda, was abbess at Romsey. Theophano: 956? - 991 This Theophano, possibly the daughter of the Byzantine empress Theophano (above) and emperor Romanus II, married the western emperor Otto II (Rufus) in 972. The marriage had been negotiated as part of a treaty between John Tzmisces, ruling for the princes who were Theophanos brothers, and Otto I. Otto I died the next year. When Otto II died in 984, his son, Otto III, succeeded him, though he was only three years old. Theophano, as the childs mother, was in control until 991. In 984 the Duke of Bavaria (Henry the Quarrelsome) kidnapped Otto III but was forced to turn him over to Theophano and her mother-in-law  Adelaide. Adelaide ruled for Otto III after Theophano died in 991. Otto III also married a Theophano, also of Byzantium. This Theophanos sister, Anna (below), married Vladimir I of Russia. Saint Edith of Wilton: 961 - 984 The illegitimate daughter of Edgar the Peaceable, Edith became a nun at the convent at Wilton, where her mother (Wulfthryth or Wilfrida) was also a nun. King Edgar was forced to do penance for kidnapping Wulfthryth from the convent.  Wulfthryth returned to the convent when she was able to escape, taking Edith with her. Edith was reportedly offered the crown of England by nobles who had supported one half-brother, Edward the Martyr, against her other half-brother, Aelthelred the Unready. Her feast day is September 16, the day of her death. Also known as:  Eadgyth, Ediva Anna: 963 - 1011 Anna was a Byzantine princess, probably the daughter of the Byzantine Empress  Theophano (above) and Byzantine Emperor Romanus II, and thus the sister of Basil II (though occasionally identified as Basils daughter) and, sister of the western empress, another Theophano (also above), Basil arranged for Anna to be married to Vladimir I of Kiev, called the Great, in 988. This marriage is sometimes credited for Vladimirs conversion to Christianity (as has the influence of his grandmother, Olga). His previous wives had been pagans as he had been before 988.  After the baptism, Basil tried to back out of the marriage agreement, but Vladimir invaded the Crimea and Basil relented. Annas arrival brought significant Byzantine cultural influence to Russia. Their daughter married Karol the Restorer of Poland. Vladimir was killed in an uprising in which some of his former wives and their children participated. Sigrid the Haughty: about 968 – before 1013 Legendary queen (perhaps mythical), Sigrid refused to marry King Olaf of Norway because it would have required her to give up her faith and become Christian. Also known as:  Sigrid the Strong-Minded, Sigrid the Proud, Sigrà ­Ãƒ ° Tà ³stadà ³ttir, Sigrà ­Ãƒ ° Stà ³rrà ¡Ãƒ °a, Sigrid Storrà ¥da Most likely a legendary character, Sigrid the Haughty (once assumed to be an actual person) is noted for her defiance. The chronicle of King Olaf of Norway says that when it was arranged for Sigrid to marry Olaf, she refused because it would have required her to convert to Christianity. She helped organize opponents of Olaf who, later, defeated the Norwegian King. According to the stories that mention Sigrid, she was married to Eric VI Bjornsson, King of Sweden, and was the mother of Olaf III of Sweden and of Holmfrid who married Svend I of Denmark. Later, perhaps after she and Eric divorced, she is supposed to have married Sweyn of Denmark (Sveyn Forkbeard) and is cited as the mother of Estrith or Margaret of Denmark, who married Richard II the Good of Normandy. Aelfgifu about 985 - 1002 Aelfgifu was the first wife of King Aethelread Unraed (Ethelred) the Unready, and probably the mother of his son Edmund II  Ironside who briefly ruled as King of England. Also known as:  Aelflaed, Elfreda, Elgiva Aelfgifus life shows one fact of womens existence in the tenth century: little is known of her besides her name. The first wife of Aethelred the Unready (from Unraed meaning bad or evil counsel), her parentage is disputed and she disappears from the record early in his long conflict with the Danes which resulted in the overthrow of Aethelred for Sweyn in 1013, and his subsequent brief return to control 1014-1016.  We dont know for sure whether Aelfgifu died or whether Aethelred put her aside for his second wife,  Emma of Normandy  whom he married in 1002. While the facts arent known for certain, Aelfgifu is usually credited as the mother of Aethelreds six sons and as many as five daughters, one of whom was the abbess at Wherwell. Aelfgifu was thus probably the mother of Aethelreds son Edmund II Ironside, who ruled briefly until Sweyns son, Cnut (Canute), defeated him in battle. Edmund was allowed by the treaty to rule in Wessex and Cnut ruled the rest of England, but Edmund died in the same year, 1016, and Cnut consolidated his power, marrying Aethelreds second wife and widow,  Emma of Normandy. Emma was the mother of Aethelreds sons Edward and Alfred and daughter Godgifu. These three fled to Normandy where Emmas brother ruled as Duke. Another Aelfgifu is mentioned as the first wife of Cnut, mother of Cnuts sons Sweyn and Harold Harefoot. Andal: Dates Unsure Andal was an Indian poet who wrote devotional poetry to Krishna. A few hagiographies survive of Andal, a poet in Tamil Nadu who wrote devotional poetry to Krishna in which her own personality comes alive at times. Two devotional poems by Andal are known and are still used in worship. Adopted by her father (Perilyalwar or Periyalwar) who finds her as a baby, Andal avoids earthly marriage, the normal and expected path for women of her culture, to marry Vishnu, both spiritually and physically. She is sometimes known by a phrase which means she who gave garlands that had been worn. Her name translates as savior or saint, and she is also known as Saint Goda. An annual holy day honors Andal. The Vaishnava tradition honors Shrivilliputtur as the birthplace of Andal. The Nacciyar Tirumoli, which is about the love of Andal for Vishnu and Andal as beloved, is a Vaishnava marriage classic. Her exact dates are unknown but are likely to have been the ninth or tenth centuries. Sources include: Phillip B. Wagoner. Tidings of the King. 1993.Joseph T. Shipley. Encyclopedia of Literature. 1946. Lady Li: Dates Unsure Lady Li was a Chinese artist from Shu (Sichuan) who is credited with beginning an artistic tradition by tracing on her paper window with a brush the shadows cast by the moon and bamboo, thus inventing monochromatic brush painting of bamboo. The Taoist writer Chuang-tzu also uses the name Lady Li for a parable about clinging to life in the face of death. Kang-i Chang.  Women Writers of Traditional China: An Anthology of Poetry and Criticism. 1999. (mentions Lady Li briefly)Marsha Weidner.  Flowering in the Shadows: Women in the History of Chinese and Japanese Painting.  1990. Zahra: Dates Unsure She was the favorite wife of Caliph Adb-er-Rahman III. She inspired the palace of al-Zahra near Cordoba, Spain. Ende: Dates Unsure Ende was a German artist, the first known female manuscript illustrator.

Essay on Leaders of the Nation of Islam - 3021 Words

Leaders of Nations The Nation of Islam impacted many African American people during its time. This Black Muslim nation demanded adherence to basic teachings, which included racial separation, white devilry, and the coming Armageddon. None of these basic teachings supported James Baldwin’s perceptions, which pitied whites for their inability to see through the color curtain and embrace differences that whites and blacks held together to create a better, inexorable, and supreme nation. Leaders such as Elijah Muhammad and Malcolm X provided the vision of the Nation of Islam. These moguls proved to be two of the most powerful leaders of their time. They paved their way through history and rightfully landed a spot belonging to†¦show more content†¦From his speeches on the radio and in newspapers, many people also thought of Muhammad as a fierce man, among these people was Baldwin. On first meeting Muhammad, Baldwin shows his surprise by saying â€Å"I [had] associated him with f erocity. But, no – the man who came into the room was small and slender, really very delicately put together, with a thin face, large, warm eyes, and a most winning smile† (Baldwin 323). Muhammad was a regular man that merely exuded confidence and carried himself with pride. He had a powerful air around him, because he meant every single word that escaped his mouth. As superior of the Islam movement, Muhammad helped integrate the movement’s demand within as many black communities as he could. He started out with implementing a grocery store in a nearby black community with nothing but Muslim employees. Then slowly a restaurant and a bakery came to pass. Muhammad was well on his way to proving to blacks that they could accomplish their own needs without having â€Å"to demand [anything of] the white devil or resort to him† (Clegg 50). 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Lilly s Long Term Debt Ratio - 1496 Words

2011. Pfizer’s debt ratio has also been above the benchmark since 2009, but it has been lower than Lilly’s. Lilly’s long-term debt-to-equity ratio was over the benchmark during the year 2008 and 2009 but stayed below 1.0 in the other years. It should be noted that Lilly’s debt ratio has declined during the period, whereas, Pfizer’s increased. Although, Lilly’s long-term debt-to-equity ratio appears to be good, its total debt-to-equity ratio, which is much more comprehensive, is above the reasonable limit and indicates that the firm has more debt than equity. Thus, weakening its long-term financial position. Summary of Firm-level Inherent Risks The following factors could either increase or decrease firm-level inherent risks for Lilly’s†¦show more content†¦Management Incentives Eli Lilly is a profitable company and is one of the top pharmaceutical firms. The company has faced losses in the year 2008 but appears to have been recovering strongly. While Lilly has much lower earnings than its competitor, Pfizer, Lilly’s ROA and ROE are substantially higher than Pfizer. However, Lilly’s earnings fell by 14.2% in the year 2011, and ROA and ROE also fell during the period. Its P/E ratio fell substantially since 2008 due to the market’s lack of optimism about Lilly’s future. Lilly’s management is under considerable pressure to reverse the declining trend. Thus, management would have incentives to manipulate the areas of accounting that require judgment call like revenue recognition policies and valuation allowances to boost in earnings in 2011. Account-level Inherent Risk Valuation Allowances Accounts Receivable The comparison of Lilly’s days receivables with changes in their valuation allowance reveals an unusual pattern. During 2009 Lilly’s days receivable increased, but its valuation allowance decreased. This was a year after the company incurred losses, this could have been a management attempt to increase net income to help demonstrate company’s recovery. During the year 2011, Lilly’s days receivable fell slightly while its allowance increased by 0.8 percentage points. However, this pattern is inconsistent

Accounting Theory and Current Issues Stipulated Bookkeeping Speculat

Question: Discuss about the Accounting Theory and Current Issues for Stipulated Bookkeeping Speculations. Answer: Introduction Bookkeeping is a field which has been being developed and as of now managing different issues in light of the enhancing innovation. This paper contends on the premise of stipulated bookkeeping speculations and the rising issues (Reddy 2004). A case of contemporary issues examined inside this paper is nature, and presentation of bookkeeping standards in innovative work organizations (RD). Bio-sustainable Feeds (BSF) is one of the organizations in the business doing research in Australia in the water sustenance creation part. Bio feasible nourishment has been recorded among organizations in the Australian stock trade market. The organization operation has been under reactions by the environmentalist who see its operations adversely. Taking into account the bookkeeping and business contentions and also hypotheses, all organizations have a patent right to their items as per the law. In this manner an organization ought to be considered responsible for they have created. Bio-sustainable i ndustry created a plant based water society nourishment items which never yield better results according to the desires and wound up losing colossal whole of cash all the while (Porwal 2000). The extent of this paper likewise uses bookkeeping speculations in connection to the present issues like BSF Ltd. The paper misuses the present issues in connection to bookkeeping hypothesis and Bio-maintainable fish nourish organization. Figuring of equitable patent worth is another issue which has been examined inside the extent of this paper. Nature and value to society of the research being done by BSF Ltd The sort of examination being finished by this organization is a formative exploration. Bio Sustainable Company fills in as RD firm performing research in the field of fish cultivation. The organization venture is an examination resolved to enhance nourishment generation in Australia through water society. The water nourish examination is a test based exploration which requires a great deal of experimentation to guarantee its prosperity. The advantages from this sort of exploration are constantly estimated to be in future. BSF LTD exploration can likewise be seen as a down to earth research in which outsiders additionally advantage. For example, in the above case the general public and the organization giving backing will have profits by the achievement of this task. Formative venture like the one being directed by bio sustainable nourishes comes toward the end of general examination. The organization had led general research and distinguished each perspective required. Advancement s ubsequently encourage the interest in the region of decision which is thinking of microbes water bolster creation. It incorporates dangers because of the point that it depends on trial. Advantages and benefits of improvement examination is procured toward the end of a given timeframe. Interests being developed and research are considered as costs making the financial specialists to have no case in instances of disappointment. This improvement research task will positively affect individuals living in Australian if there should be an occurrence of its prosperity. Despite the fact that a ton of capital has been put into the exploration, the consequence of the advancement will help to decrease world appetite sooner rather than later. BSF Ltd has attempted their best attempting to give ceaseless fish supply into the business sectors lessening the rate of word hanger. BSF ltd flow examination is to the general population salvage since it includes reusing of waste items in the formation of a superior and quickly developing fish. The examination shows that the majority of the fixings required for such fish food are waste items. The organization expects to utilize microorganisms in their assembling which may not be an excess of weight to the general public. Wood chips are waste items, woodchips are less expensive to obtain, promptly accessible and has no organic consequences for the shoppers who are individuals f rom society. Another crude material for the creation is a reused methane gas which does not require much capital. Assembling of these water food is more secure to environment the same number of the generation materials are natural toxins. Sugar buildup, methane and wood chips are disposed of items whose assistance in the end of poisons in the encompassing. This outcomes into lessened rate of sickness compression by the general population. Generation of water food as per BSF ltd in such away has a positive effect to individuals from the general public. The kind fish kept with such sort of food has its omega oil in place and develops quicker contrasted with the typical. The quicker development of fish will bring about expanded nourishment supply to the general public decreasing craving levels in Australia in future. Accomplishment of this exploration will prompt diminishment of the deviation between those who are well off and the have not in contrary to previous strategy where just the rich could bear the cost of fish. The general public values this examination since it has come about into anticipation of human quality sustenance waste. Transformation of human sustenance item into fish dinner was an incredible test to Australian culture and came about to lack of healthy sustenance and starvation as quality human nourishment was utilized to develop lavish fish which dominant part couldn't bear. Biotechnological water sus tenance innovation will prompt spreading out of water society inside the Australian culture. Rise of a few water ranches implies foundation of openings for work encouraging monetary strengthening of a given society. This sort of speculation is considerable to the group as it encourages and in addition boosting its monetary dependability. Conversion of human food product into fish meal was a great challenge to Australian society and resulted to malnutrition and starvation as quality human food was used to grow luxurious fish which majority could not afford. Biotechnological aqua food invention will lead to spreading out of aqua culture within the Australian society. Emergence of several aqua farms means establishment of job opportunities facilitating economic empowerment of a given society. This kind of investment is substantial to the community as it facilitates its progress as well as boosting its economic stability. Complications with the initial research conducted by BSF Ltd. The $360 million AUD research speculation performed by Bio-practical Feeds (BSF) Ltd has a considerable measure of downsides to the organization itself, economy and Australian culture. The exploration was not led with the examination of human sustenance, survival instrument of different sorts of fish lastly the financial status of individual national. The movement from water feast to planted produce was excessively costly analyzed, making it impossible to microscopic organisms generation of water food. Planted fixings, for example, canola, corn, soya-bean, sunflower and other ranch items were costly contrasted with microscopic organisms generation which majors in reusing of waste items. The organization spent a considerable measure in the buys of crude materials without hypothesis of what may happen in future. Different sorts of fish wound up dead coming about into a colossal breakdown of cash. This happened due the disappointment of the organization to recognize the best nourishment for every kind of fish. BFS Ltd industry never considered the results of ranch based fish food to types of fish and to human nourishment as uncovered by Jillian Fry, chief of CLF's Public Health and Sustainable Aquaculture Project and an employee at the Johns Hopkins. Ranch created fish secure omega 3 unsaturated fat from different items particularly angle oil. The exploration created costly little fish which were reasonable for the rich. Regardless where just a given part of a populace can manage the cost of an item, showcase gets to be restricted due diminished interest. Such situations prompts imbalanced harmony in the free market activity and additionally flimsy economy. Extra issue with the exploration is inconsideration of the significance of the crude materials. The greater part of the homestead items utilized as a part of the creation are astounding sustenance crops for human surval. This sort of fish cultivating prompted human starvation since the majority of the fundament al sustenance products were being changed over into fish dinner. In light of human sustenance the end fish items from this movement were of low quality and could prompt wellbeing issues and entanglements. The sort of fish delivered amid the primary creation indicated decreased weight instead of enhancing the weight. Nature, accounting and comparison between general research and RD Accounting in RD is the consideration of expenses and revenues over a given period of time. The cost allocated for development should match expenses and revenues. All assets purchased in development are expensed. This capitalization of assets in the development is considered as an expense since they are meant to generate income in future. Development expenditures are formed with the expectation of future profits and products of measurement. From the given case Bio sustainable company is operating as RD. Therefore all costs of the company according to Financial Accounting Standards Board (FASB) shall be considered as expense (Caicedo 2012). This kind of assumption comes as a result of uncertainty concerning profits that will be generated by the research company in future. As discussed prior there must be a match between the revenues of BSF Company and the expenses. The matching principle in the RD accounts usually applicable after a period of time mostly ten years. For example investm ent of large amount made by the company to acquire raw materials is considered as an expense. In cases of failure, investment made by the company will not have any revenue since all assets are treated as expenses. On the other hand the company may decide to capitalize the expenses to secure some as revenue in any cases of failure. This means that there are high possibilities that the RD will lead to future economic benefit. When investments are capitalized the Company accountants are therefore able to justify putting various investment transactions on their balance sheets. General research is broad and requires a lot of funding which has got no sure benefit in return compared to development research. Investors enjoy tax breaks in which tax are often deductible but some are not deductible. General development research such as market research and assessment research are not subject to taxation making many investors to get into development research. Development allows more cost effective investment thus increasing the profit margin. In terms of financing RD enjoy the benefits of funding from other parties like established companies. Such companies enjoy qualified employees since many of graduates tend to join these companies. The above reasons makes several firms to RD industry to enjoy the benefits and exploit the available economies of scale Development is an application of already conducted research on a particular field. Development utilizes the research finding and outcome to come up with a specific end product as seen in the case of BSF ltd Development is a sub branch of a general research which deals with the generation of a more indispensable understanding and deigns important in manufacturing of the model (Jucker and Rouchota 1998). On the other hand research is defined as an indefinite investigation. It targets a more general field in comparison to development which is more specific. For instance if BSF Ltd was a general research facility it could have conducted a more broad research rather than plant based, fish based and bacteria based fish feed. Research works on a broad perspective while development only apply to the last part and on a specific finding. General research requires large amount of money while development is specific thus specific budget (Sierra 2002). The accountings in general research differs from that of development since only expenses are accounted. All company assets are not expenses as seen in development. Fair market value patent assumptions and calculations Development based research companies like BFS ltd have patent for their products (Tavares and Barretta 2006). Calculation of the patent value according to GAAP involves appropriate assumptions to come up with the fair values (W. In the case of Bio-sustainable, the company received a lot of grants from Australian government research sector (Commonwealth Scientific and Industrial Research Organization (CSIRO) the company agrees to spend the money in two years and the addition ten years. The assumptions during the calculations of fair market patent value under the combination of discounted cash flow and real option method. The method assumes that a sole biotechnology firm has ten years. Since BSF ltd is among the biotech industry the sum of total year applies and addition two years of agreement. Fair market patent is probably the most recognized standard of patent calculation (Pulgar and Cano 2001). Calculation of patent is recognized by bio sustainable food company as the most standard appropriate method to cover their patent rights within the market. In order to arrive to the fair market value, several approaches can be used. These approaches have been put in place by GAAP other framework organizations to help in identifying the nature of the company patent right (Humphrey and Miller 2012). The company in this case operates under the grants of $500 million from the government therefore the nature of patent is calculated based on the royalty determination methods. Income based approaches methods are based on the future cash flows from the royalty grants. The discounted cash flow (DFC) is the basic tool appropriate in the determination of fair market patent. Patent valuation technique is applicable in this situation since probability adjustment can be determined. Identifying fair market patent depends on the creation of intellectual property (Zuppiroli 2012). Applying the approach to BSF research and development of fish food made from bacteria as a raw material an d other recycled raw materials such as methane. The company is determined to find the most suitable fish food production to facilitate aqua culture. Therefore in these case fair market value (FMV) would be equal to cost of new replacement (CRN) less physical depreciation (PD), functional obsolescence (FO) and economic obsolescence (EO) (Kosfeld and Titze 2015). FMV = CRN PD FO EO (Gaffikin 2006). To arrive to fair market value the (DCF) method is integrated with other patent calculation methods resulting to fair market patent indication. (10yers +2yrs= 12 years). The DCF market value* (1+factor %) = patent fair value indication. The value lies two methods as shown. The NVP = $ 700000000 *(1+8.0) = $630000000. Therefore fair patent value =Preliminary DCF value (1 + factor %) = Patent fair market value indication. Methods integrated during fair market value calculation includes competitive advantage valuation which most of the time contradicts other methods (Holl 2016). The competitive advantage contribution of an intellectual property asset is defined as the asset's advantages or disadvantages in comparison to an average subs titute intellectual property asset. The major premise of the CAV method is that the value of an intellectual property asset derives entirely from the value of the product, process or service that utilizes the intellectual property asset. The petty principle of the CAV method is that the value of an intellectual property asset can best be identified by the competitive advantage that it contributes to a product, process or service (Riahi 2005). BSF journal entries for BSF LTD. Bio sustainable aqua culture food operates as an RD therefore the kind of transactions made between the period ended 2013 and 2016 can be presented in the books of account. The nature of accounts in research and development RD is different from other normal business transactions. Therefore the company operations is considered as long term assets (Veugelers 2012). Bio sustainable aqua feed Journal Entries for Purchase of long lived assets from 2013 to 2016 Balance brought forward from the previous business operation Debit ($) Credit ($) Balance brought forward Cash $ 34000000 $34000000 Research and development costs are an expense; therefore, those costs incurred by the company cannot be amortized. Will only be decreased for any impairment to its market value. Goodwill will never be increased in value due to an increase in its market value. BSF Ltd. received a $500 million AUD grant from the Commonwealth Scientific and Industrial Research Organization (CSIRO, Federal Government of Australia Grants Debit ($) Credit ($) CSIRO, Federal Government of Australia $ 500000000 Cash $ 500000000 Research and development cost are to be treated not as an intangible asset but only as an expense. particulars Debit credit facility $160000000 cash $160000000 Cost involve in transporting Particulars Debit credit transport $200000000 Cash $200000000 In consideration of $500 million AUD grant from the Commonwealth Scientific and Industrial Research Organization (CSIRO, Federal Government of Australia) the right place is the credit since the company is to refund back the money (Evans 2003). All the liabilities such the grant is debited since it is the companies responsibility to refund back the money to the owners after the purpose is achieved. In the research and development a third party such as the agencies are beneficiaries thus any funding from them is a liability to the research company such as BSF Ltd. Management asserted in a prospectus of patent value The above calculation of the fair market patent value enable company to proceed with their operation. The assertion is true and allows the company to continue with operation based on the decision of going concern. One of the accounting theories is the issue of going concern as seen in this case where the company is proceeding with the business (Belderbos et al. 2014). For the company to procedure with their line of production, it must have a patent right. Bio-sustainable Feed has got the patent right to access the bacteria since they had operated a food company prior to the current development. The company aquaculture food production for the last period before venturing into the new technology where bacteria is used as a raw material for production (Henderson et al. 1992). The assertion is true since the patent rights allow RD companies to utilize complementary resources to bring their final idea into the market. Therefore BSF ltd is permitted to access bacteria from the previous com pany. The issue of going concern has been put into practice to facilitate the investment. Conclusion The above discussion indicates the relevance of accounting theory and its application to research and development (RD). It is clear from above that the nature of accounting used in development is quite different from other business entities. Recording transactions in RD Company requires a deeper understanding since cots and assets used are all considered expense. Another important issue is the calculation of fair market patent value which also takes a different dimension. The calculation of patent value assists a company to determine their level of operation. The issue of going concern is another factor that is under theories of accounting and determines ability of a company to remain operational. References Belderbos, R., Van Roy, V., Leten, B. and Thijs, B., 2014. Academic research strengths and multinational firms' foreign RD location decisions: evidence from RD investments in European regions. Environment and planning A, 46(4), pp.920-942. Veugelers, R., 2012. Improving Europes industry-science links. Science, Innovation, Firms and Markets in Europe, 33. Ferreira, J.J. and Ratten, V., Competitiveness of Locations: The Effects of Regional Innovation and Entrepreneurial Practices. Ferreira, J.J. and Ratten, V., Competitiveness of Locations: The Effects of Regional Innovation and Entrepreneurial Practices. Holl, A. and Rama, R., 2016. The spatial distribution of foreign direct investment in RD within host countries. An empirical examination of foreign subsidiaries in Spain. International Journal of Multinational Corporation Strategy, 1(1), pp.65-86. Kosfeld, R. and Titze, M., 2015. Benchmark Value-added Chains and Regional Clusters in RD-intensive Industries. International Regional Science Review, p.0160017615590158. Belderbos, R., Leten, B. and Suzuki, S., 2011. Academic research firm heterogeneity and foreign rd locations. In DRUID 2011 Summer Conference. Gaffikin, M., 2006. The critique of accounting theory. Humphrey, C. and Miller, P., 2012. Rethinking impact and redefining responsibility: The parameters and coordinates of accounting and public management reforms. Accounting, Auditing Accountability Journal, 25(2), pp.295-327. Caicedo, I.J.C., 2012. dgar Nieto, un proyecto de transparencia. Sus travesas hacia una nueva Contabilidad Pblica. Nmadas (Col), (36), pp.274-276. Zuppiroli, L., 2012. La burbuja universitaria: hay que perseguir el sueo americano?. Dykinson Place of publication not identified. Zuppiroli, L., 2012. La burbuja universitaria: hay que perseguir el sueo americano?. Dykinson Place of publication not identified. Pulgarn, H. and Cano, J., 2001. El Sistema de Contabilidad Pblica en Colombia. Visin Contable, 2, pp.35-63. Tavares, M. and Barretta, N., 2006. Sistemas de Planeacin Estratgica e Innovaciones Presupuestaras. Informe plan de acciones a media-no plazo para la efectividad del desarrollo. Banco Interamericano de Desarrollo, BID. Sierra, E., 2002. El Balance General de la Nacin: una visin crtica. Sindresis. Revista de la Auditora General de la Repblica, 5, pp.143-155. Pardo, R., 20. aos de la Constitucin Poltica de Colombia 1991-2011. Homenaje al ex presidente Csar Gaviria Trujillo. Instituto de Pensamiento Liberal. Bogot. Jucker, A. H., Rouchota, V. (1998). Current issues in relevance theory. Amsterdam [u.a.], J. Benjamins Kieso, D. E., Weygandt, J. J., Warfield, T. D. 2010. Intermediate accounting: IFRS approach. 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Nike And Asian Labour Essays - Business, Nike, Inc., Fashion

Nike And Asian Labour There has been much debate and controversy recently concerning Nike's Asian labour practices. This is a very complex issue and one that is a long way from being solved. It is very difficult to determine which side of this argument to defend, as both sides acknowledge the facts, yet put a completely different spin on them. Do you believe Nike's critics who say they're exploiting workers? Or, do you believe Nike when they say that they are giving workers in these countries wonderful opportunities to raise their standard of living? The consensus answer to this question by all sides seems to be that Nike is improving but still has a ways to go. Nike's Asian ties can be traced back to the birth of the company. The CEO, chairman of the board of directors, and co-founder, Phil Knight, wrote his masters thesis at Stanford University in the 1960's on the prospects for using Asian labor to produce goods cheaper and more effectively. In order to incorporate this plan in to Nike's business structure, a partnership was set up with a Japan based company called Tiger Sports. Tiger Sports would manufacture shoes for Nike in Asia then shipped them to the United States to sell. In the 1980's however, this aspect of Nike's partnership with Tiger Sports was dissolved, and Nike was forced to expand production from the United States to countries such as Taiwan and Korea where their products could be manufactured at the same relatively low cost that Nike enjoyed through the Tiger Sports partnership. Over the last five of years, however, the production numbers for these countries have been decreasing at an alarming rate due to the fact that their economies expanded at a very rapid pace. This, in turn, caused the cost of labour to increase dramatically, and therefore Nike could no longer produce their product as efficiently as before. In lieu of the rapid economic growth in the pacific rim, and the increased production cost, Nike has moved more into countries such as Vietnam and China where the labour is cheaper and labour laws less stringent. (VLF, VN Fact Sheet) Nike does not own any of the factories that produces its products in Asia, and subsequently they do not directly employ the workers or management. They contract out work to factories that make all of the products and run all of the factories. They do, however, have a massive amount of leverage when dealing with these factories because of the huge contracts they supply. To ensure good labour practices, Nike has a Code of Conduct that every contractor must agree to abide by in order to get a contract. The Conduct Code in theory condemns and prohibits child labour, requires that workers be paid fair wage, imposes caps on the days and hours a worker can be forced to work, prohibits mistreatment or discrimination of workers in any form, obligates factories to implement programs that benefit worker's health and safety, and recognizes and respects the workers right to freedom of association. There are 1000 Nike employees worldwide monitoring operations at the subcontractors and specifically the Code of Conduct adherent. The most consistent criticism of Nike is that the workers in the factories contracted by them are not aware of the Code of Conduct that was agreed upon, and/or it is not enforced (especially the wages and overtime aspects) by the factory officials. Critics contend that the factories pay less than minimum wage at times, force too many overtime hours, and fail to make the workplace as clean and as safe as standards dictate. Many of the factories that are contracted have workers and management from different countries, causing some problems in communication. Some factories in China have Taiwanese Managers while factories in Vietnam have Korean managers. This is one reason offered by Nike in defense of the factories failure to comply with the Code of Conduct. To look into this issue, earlier this year Nike commissioned Andrew Young, a former civil rights leader and United Nations ambassador to do an analysis of how well the Code was working. Young and his staff visited four factories in Vietnam, Indonesia, and China for three to four hours each led by Nike's people. Young's conclusion proved not only to be uninformative, but somewhat aggravating to the public due to its elementary tone. "Nike is doing a good job, but could do better" was the statement released by Young at the end of the report. Another aspect of the inquiry that bothered the public was