Australopithecus Facts and Figures

Australopithecus Facts and Figures Name: Australopithecus (Greek for southern ape); pronounced AW-strah-low-pih-THECK-us Habitat: Plains of Africa Historical Epoch: Late Pliocene-Early Pleistocene (4-2 million years ago) Size and Weight: Varies by species; mostly about four feet tall and 50-75 pounds Diet: Mostly herbivorous Distinguishing Characteristics: Bipedal posture; relatively large brain About Australopithecus Although theres always the possibility that a stunning new fossil discovery will upset the hominid apple cart, for now, paleontologists agree that the prehistoric primate Australopithecus was immediately ancestral to genus Homo- which today is represented by only a single species, Homo sapiens. (Paleontologists have yet to pin down the exact time when the genus Homo first evolved from Australopithecus; the best guess is that Homo habilis derived from a population of Australopithecus in Africa about two million years ago.) The two most important species of Australopithecus were A. afarensis, named after the Afar region of Ethiopia, and A. africanus, which was discovered in South Africa. Dating to about 3.5 million years ago, A. afarensis was about the size of a grade-schooler; its human-like traits included a bipedal posture and a brain slightly bigger than a chimpanzees, but it still possessed a distinctly chimp-like face. (The most famous specimen of A. afarensis is the famous Lucy.) A. africanus appeared on the scene a few hundred thousand years later; it was similar in most ways to its immediate ancestor, although slightly bigger and better adapted to a plains lifestyle. A third species of Australopithecus, A. robustus, was so much bigger than these other two species (with a bigger brain as well) that its now usually assigned to its own genus, Paranthropus. One of the most controversial aspects of the various species of Australopithecus is their presumed diets, which is related intimately to their use (or non-use) of primitive tools. For years, paleontologists assumed that Australopithecus subsisted mostly on nuts, fruits, and hard-to-digest tubers, as evidenced by the shape of their teeth (and the wear on tooth enamel). But then researchers discovered evidence of animal butchering and consumption, dating to about 2.6 and 3.4 million years ago, in Ethiopia, demonstrating that some species of Australopithecus may have supplemented their plant diets with small servings of meat- and may (emphasis on the may) have used stone tools to kill their prey. However, its important not to overstate the extent to which Australopithecus was similar to modern humans. The fact is that the brains of A. afarensis and A. africanus were only about a third the size of those of Homo sapiens, and theres no convincing evidence, aside from the circumstantial details cited above, that these hominids were capable of using tools (though some paleontologists have made this claim for A. africanus). In fact, Australopithecus seems to have occupied a place fairly far down on the Pliocene food chain, with numerous individuals succumbing to predation by the meat-eating megafauna mammals of their African habitat.

The Lifespan Development and Personality of Diana, Princess of Wales

The Lifespan Development and Personality of Diana, Princess of Wales Free Online Research Papers This paper focuses on the life span development and personality of Diana, Princess of Wales. Diana Frances Spencer, the third daughter of four children born into British aristocracy by her parents, Frances Shand Kydd and John Spencer was born on July 1, 1961. Her parents separated in 1967 and the children remained living with their father. Upon the death of her paternal grandfather, Albert Spencer, 7th Earl Spencer in 1975, Dianas father became the 8th Earl Spencer. She became Lady Diana Spencer and the family moved to the familys sixteenth-century ancestral home of Althorp (Wikipedia Contributors, 2007). Six years after becoming Lady Diana Spencer, at age of 20, she married the heir to the British throne, Prince Charles who was 13 years her elder. The ceremony was one of the century’s grandest royal weddings and she became HRH The Princess of Wales. The following year she became mother of Prince William and two years later she became the mother to son Prince Harry. In December, 1992, Diana and Charles separated and divorced in 1996. In July, 1997 she was in a tragic fatal automobile accident. Impacts on Her Life Childhood Childhood is the development in one’s life between infancy and adolescence. Diana was born into a family of privilege and royal descent where money was not an issue. She was home schooled until the age of nine. She was a quiet and reserved child living a happy life until her parents divorced when she was eight. Shortly thereafter she became visibly depressed. Adolescence Adolescence is a period in one’s life in which major physiological, cognitive, and behavioral changes take place. The actual age may vary but generally occurs somewhere between the ages of 12 through 18. This is a critical stage where a child attempts to become independent, wants to establish their identity and there are noticeable changes in their behavior. Adolescence occurs when a child begins physical and psychological development from the onset of puberty to maturity. Several changes occurred in Diana’s life during these phase. Due to the death of her Grandfather, she gained the title of Lady. She also began attending boarding school of which was a bit difficult for her along with the fact that she academically struggled, became lonely and homesick. Adult Development Adult development was again a difficult stage in the life of Lady Diana. She became engaged and later married Prince Charles thus becoming known to the world as HRH The Princess of Wales. Out of the marriage were born two children. From the onset of the engagement, she became a target for the media and was considered the most photographed woman in history and was always in the public eye. Shortly after the marriage, her and her husband grew apart. She became extremely lonely, depressed and diagnosed with bulimia, a psychological eating disorder characterized by abnormal perception of body image, constant craving for food and binge eating, followed by self-induced vomiting or laxative usually affecting female adolescents or young female adults (Schimelpfening, 2007). Ultimately, the two divorced in August, 1996 and she became Diana, Princess of Wales until her untimely death one year later. Influences of Heredity and Environment on Psychological Development Being born into a family with noble ancestral heritage, certain influences significantly impacted the psychological development of Diana. Her moral development was greatly enhanced by the heredity and environment as a child. Upon entering adulthood, the moral development was further enhanced while expectations became greater nearing the title of the HRH The Princess of Wales; however, her emotional development was always a difficult process for her. From the time of her birth to around 8 years old, she maintained a relatively normal lifestyle. The divorce of her parents was of course, difficult and preparing to live a fairy tale life was difficult as well primarily when the fairy tale life was falling apart. The difficulties in her marriage seemed to make her stronger and more visible in terms of charity work and media. The support systems for her played a reverse role whereas she focused on helping others to make her the happiest. Theories of Personality Erickson’s theory is that development extends throughout the life-span and is divided into periods or stages. The amount of conflict in each stage determines whether the positive or negative pole is learned. Each stage is marked by a conflict, for which successful resolution will result in a favorable outcome. Stage five Adolescence: 12-18 years, where the conflict is identity versus confusion was difficult for Diana, resulting in loneliness and depression. Her title, identity and expectations changed a couple of times throughout this period in her life and the direction her life was taking in becoming the wife of Prince Charles was exhausting. Stage six Young Adulthood: 18-40 years, presents conflicts in intimacy versus isolation as part of her failed marriage. The media also rumored her as having several love relationships, yet failing at those as well. During this stage of her life, she became extremely lonely, depressed and was diagnosed with bulimia. Another personality theory which can be applied to Diana is humanistic psychology which is known to be difficult because there are no agreed-upon definitions of what constitutes a humanistic personality theory. The following four elements are central to the general viewpoint to which the humanistic label is applied: (1) an emphasis on personal responsibility, (2) an emphasis on the here and now, (3) a focus on the phenomenology of the individual, and (4) an emphasis on personal growth. In giving a brief description on each element listed, personal responsibility strictly means that one is ultimately responsible for what happens to them, the here and now perspective means an individual should focus on what is going on with his or her life at a specific point in relationship to time opposed to reminiscing about the past or daydreaming of a future event. The phenomenology of the individual basically means that individuals know themselves better than anyone else does and the personal gro wth element means that there is more to life than simply having immediate needs met and that people are not content when their immediate needs have been met. Rather they are motivated to continue their development in a positive manner. Diana excelled on the elements one, three and four primarily when it came to her ambassador role and helping in the over 100 charities. Best Theoretical Approach There is no best theoretical approach to Diana’s individual behaviors and achievements. Each stage of her life based on Erickson’s theory is clearly identified and marked with conflict which is basically textbook Erickson. The humanistic theory holds three of the key ingredients to Diana’s uniqueness; however, she does not in my opinion meet the criteria of element two. She gave her time and herself to raise millions of dollars for many causes. These causes primarily would benefit the sick, homeless and the poor. Many examples exist of her physically touching HIV/AIDS patients, sitting with children dying of cancer or personal visits to homeless shelters and leprosy wards or. â€Å"She was known to take her sons, Princes William and Harry, with her to poverty-stricken areas of South London to meet homeless people camped in cardboard shelters. She ministered to the children and adult victims of unrestrained landmines. To outsiders, her life began in a fairytale f ashion; yet she rose to demonstrate to the world that one can overcome adversity and leave a meaningful legacy. She restored a sense of mission and humanity in a stodgy institution, the monarchy of England† (Nieboer, 2007). Conclusion Diana will be remembered not for just one of her accomplishments, but for many from birthing the future King of England to showing kindness to the sick, to touring an Angolan minefield, to being identified as the â€Å"People’s Princess†. Her personality was caring and giving, but did not come without struggles from within herself. Amongst the sadness in her life, Diana developed into a highly respected woman and was noted for her sense of style, charisma, humor and high-profile charity work. She developed into not only notable leader, but an inspiration for many people throughout the world. Upon her death, the world was greatly saddened by the loss. The loss generated an intense outpouring of grief and widespread public mourning throughout not only Britain, but the world as well and created an unprecedented event of social psychology in terms of mass mourning and outpouring of emotions. References Nieboer, S. (2007). Diana, Princess of Wales. Learning to give. Retrieved May 12, 2007 from Website: learningtogive.org/papers/index.asp?bpid=88 Schimelpfening, N. (2007). Depression. Retrieved May 12, 2007 from Website: http://depression.about.com/mbiopage.htm Wikipedia Contributors (2007). Diana, Princess of Wales. Wikipedia, The Free Encyclopedia. Retrieved May 12, 2007, from Website: http://en.wikipedia.org/w/index.php?title=Diana%2C_Princess Life Span Development and Personality of Princess Diana Research Papers on The Lifespan Development and Personality of Diana, Princess of WalesPersonal Experience with Teen PregnancyEffects of Television Violence on ChildrenBook Review on The Autobiography of Malcolm XInfluences of Socio-Economic Status of Married MalesThe Masque of the Red Death Room meaningsThe Relationship Between Delinquency and Drug UseNever Been Kicked Out of a Place This NiceHip-Hop is Art19 Century Society: A Deeply Divided EraHarry Potter and the Deathly Hallows Essay

The best institution of engineering in the United States Essay

The best institution of engineering in the United States - Essay Example The researcher will begin with the statement that he began to think of his future career while in the kindergarten and based on his upbringing and family background nothing meant sense to him other than being an engineer. This was the prime reason as to why the author enrolled in a government technical high school Kumba in Cameroon. His passion for engineering was cemented while in this technical institute. To a considerable extent, the researcher’s parents positively influenced his dream of becoming an engineer. Since the author’s childhood, his parents have nurtured and inculcated virtues of an engineer in his life. After his high school studies, the researcher was chosen among the best students who were selected to work in an engineering company. Being in this engineering environment for a period of more than one year had a long-lasting impact on his future life as an electrical engineer. Working in this company motivated author’s desire to pursue his studies in the field of electrical engineering, where he obtained an associate in electrical engineering with a GPA of 3.2 from the University of Douala in Cameroon. Importantly, while working hard, the researcher knew that to attain his dream, securing admission in the best institution that offers engineering was fundamental. This should be an institution with a well-cultivated culture of engineering. This implied obtaining admission to the University of Maryland.

Unit 3 Discussion Board Essay Example | Topics and Well Written Essays - 500 words - 2

Unit 3 Discussion Board - Essay Example our seafood products so that not only we provide tasty sea food but also the healthy and fresh food which can be taken as an alternative to the mainstream food supplies. Based on this, our core strategies include value proposition as well as the product positioning. As discussed our main focus will be on creating value added seafood products therefore based on this proposition, we intend to add value to the processed seafood by making various seafood dishes and prepare them as ready to cook products. It is because of this fact that we are planning to sell fresh and preserved Fish, Frozen seafood, Processed and Canned Seafood, Preserved and Frozen oven ready fish dishes for modern food service. The value proposition in this whole product will be the perceived health benefits which a customer can enjoy by eating white meat. Backed by latest research, we will market our product based on the idea that eating seafood is not only healthy but it can also provide great taste when cooked and processed in our way. Regarding the product positioning, as discussed earlier that we are intending to target the hospitality sector of UAE therefore, there will be two channels involved in carrying out our strategy. Firstly, we will target the hotels which will be selling our product and secondly, we intend to open our own stores cum restaurants which will be used to sell our product range. Since this will be an international venture and product positioning in international market require that products can be evoked and distributed as bundles of attribute capable of generating benefits for the customer (Johansson, 1985) therefore we believe that our product will include an intangible perceived benefits to the customer in terms of taste and healthy

Qualitative Article Critique Essay Example | Topics and Well Written Essays - 1500 words - 1

Qualitative Article Critique - Essay Example In these cases asking patients about their symptoms is important, and the nurses must know what to ask for. This leads to both the problem and purpose of this study, where the nurses' perceptions about their abilities to assess and advise these patients are not known and hence need to be studied. This is a suffieciently narrow yet sigbificant problem in palliative care nursing where the disease needing palliative care has many problems per se, and depression is a common occurrence as an association that may be neglected easily. The population is thus about to die due to any cause where treatment fails, settiing become palliative care, and the variables become the nurses' perceptions about their knowledge and confidence about depression in these patients, and depressive symptoms. This also clarifoes the aim of the study which is to gather information about these variables. As evident, this problem is relevant to nursing care, since if they are proved to be having string perceptions ab out the depression and its effect on these patients, they can engage these patients into discussion about their depression, and that can be additional responsibility of these nurses while delivering palliative care. This study was very feasible in terms of money commitment and with certainty of availability of subjects in the palliatice care settings. This would not add to the extra cost since existing facilities and services would be used, and no extra equipment would be necessary. Ethically this was a sound hypothesis, and there are no reasons for it to be not ethically cleared by the appropriate authority. The authors are qualified and they are, although not categorically mentioned it seems, professors of university nursing schools. Literature Review 1. Are relevant previous studies identified and described 2. Are relevant theories and models identified and described 3. Are the references current Examine the number of sources in the past 5 and 10 years in the reference list. 4. Are the studies critiqued by the author 5. Is a summary of the current knowledge provided This summary needs to include what is known and not known about the research problem. 6. Is the literature review organized to demonstrate the progressive development of ideas through previous research 7. Is a theoretical knowledge base developed for the problem and purpose 8. Does the literature review provide a rationale direction for the study 9. Does the summary of the current empirical and theoretical knowledge provide a basis for the study The authors have identified many relevant previous studies and have reviewed them in brief, so the reader can follow the problem while reading these. These have been presented in a systematic manner so the rationality of the research question becomes explicit to the

Common Agricultural Policy by European Union

Common Agricultural Policy by European Union The Common Agricultural Policy (CAP) is a policy, set forth by the European Union (EU). It also comprises of a set of rules that control the manufacture, trade, and processing of agricultural products. The CAP currently accounts for almost fifty percent of the EU budget, however, this number continues to decrease over the years. The CAP is significant in that it symbolizes Europes switch from sovereignty on a national level to a European level. The CAP is funded by the European Agricultural Guidance and Guarantee Fund (EAGGF).This fund is allocated into two different sections, the Guidance section and the Guarantee section. The Guidance section is one of the structural funds, which contributes to the structural improvements in agriculture and the development of rural areas; the Guarantee section funds expenditures concerning the common organization of the markets. Storage taxes, manufacture taxes, and portions of each member states Gross National Product (GNP) also finances the CAP. The Treaty of Rome, in July 1958, formed the foundation for a unified Europe via the implementation of the general objectives for the CAP. â€Å"The CAP was established as a means of rectifying the deficit in food production within Europe through supporting internal prices and incomes† (Blair 123-124). The CAP succeeded in realizing its initial goals of increased production and productivity, stabilized markets, secured supplies, and farmer protection. However, the system included problems, which became apparent as the Community established a surplus for most of its agricultural products. First, the CAP increased output beyond the markets need via the guaranteeing of prices through intervention and production aids. Second, the very success of the Cap caused tension within the Communitys trading partners as subsidized exports affected the market, and thirdly, the desire to produce more food brought with it environmental damage to certain regions (Blair 123-4). The legal base for the CAP is defined in Articles 32-38 in Title II of the EC Treaty, in which, Articles 33-34 form the basic foundation for the CAP. Article 33 lists the objectives of the CAP as a means, â€Å"to increase agricultural productivity by promoting technical progress and by ensuring the balanced development of agricultural production and the optimal utilization of the factors of production, to ensure a fair standard of living for the agricultural community, in particular by increasing the individual earnings of persons engaged in agriculture, to stabilize markets, to assure the availability of supplies, and to ensure that supplies reach consumers at reasonable prices† (europa.eu.int).Through Article 34 came the creation of the Common Organization of the Agricultural Markets (COM). These COMs were to take on one of three different forms, depending on the product. They successfully eliminate obstacles to intra-Union trade while also keeping a common customs barrier with respect to countries outside the Union. Results of the COMs include a unified market in which products move freely between nations, community preference, in which EU products are always given preference, price advantage over imported products, and financial solidarity in which all expenses by the CAP are covered by the Community budget. The CAP has had a long history of reform, and is nowhere near perfect. The main attempt of improvement came just ten years after its operation. In 1968, the Mansholt Plan in which he aimed at rationalizing farming with the community, giving farmers an adequate income and reducing the burden of subsidies in the economy was put into effect in an attempt to reduce the number of people in the agriculture business and to promote more efficient means of agricultural production. In 1972, the extensive food surpluses were targeted through the creation of structural measures designed to modernize European agriculture. This attempt at reform is generally regarded as a failure because many of the problems it tried to fix were still left unchecked. In 1983, a publication was released entitled, The Green Paper, which sought to balance the on-going differences between supply and demand through improvements in production. In 1988, the European Council agreed on various reform measures. The â€Å"a gricultural expenditure guideline,† limited the percentage of CAP expenditure in the complete budget. In 1991-92 the future of the CAP was addressed through what has been called, â€Å"The MacSharry Reforms† in which the reforms included the cutback of agricultural prices to make the products more competitive, compensation for farmers that incurred a loss in income, and environmental protection. With the positive effects on European agriculture, the reform of 1992 was generally regarded as successful. However, international trends, the expansion towards Central and Eastern Europe, the preparation of the single currency causing budget constraints, the increasing competitiveness of products from non-member countries, and a new round of World Trade Organization negotiations forced further adaptation of the CAP† (europa.eu.int). In July 1997, â€Å"Agenda 2000† was created to address many of the important issues facing the EU and the CAP. the reinforcement of t he competitiveness of agricultural commodities in domestic and world markets were the key focuses of this new agenda , the promotion of a fair standard of living, the creation of extra sources of income for farmers, a new rural development policy, revamped environmental considerations, better food quality and safety, and the simplification of CAP legislation. The European Unions common agricultural policy protects and subsidizes agriculture so heavily as to bring serious social losses to the Economic Union. The policy creates inadequacies in the agriculture sector as well as other sectors of society such as manufacturing, textiles, and service industries. Furthermore, â€Å"there have been many economic consequences of the CAP, including the high level of protection, the burdens on consumers, taxpayers, and the EU budget, environmental damage, the harm to international trading relations, and the failure to raise farmers incomes† (Howarth 4). There have been a number of negative effects on the European Union countries. First and foremost, the Common Agricultural Policy has kept agricultural prices in the member countries above world market prices. â€Å"The CAP has encouraged production of certain products to the extent that net importers of these products have become net exporters† (Rosenblatt 9). Also, the CAP has contributed to large agricultural net export or stock-building by the European community. This has contributed to the CAP hindering the economies of the EU member countries. Higher food prices, which the CAP causes, and which fall hardest on the least well off, hinder economic development and reduce international competitiveness and EU employment. Consumers lose twice under this policy since they have to pay higher prices for their good and pay taxes to subsidize the agricultural sector. The CAP has also led to inefficiencies in production and the European Unions total budget. The European Unions expenditures on agriculture consume roughly 45 percent of their total budget (Rosenblatt 36). The expenditures are paid to keep farmers from letting land go idle, and there is no condition on what types of crops are to be grown on this land. Under the Common Agricultural Policy, farmers tend to harvest more profitable crops on land that is not as suitable for their growth. For example, producers have switched over from producing wheat and oil seeds to butter because the EU has such a high price support for it. This causes the market to go from excess supply to excess demand, and the producers are becoming a net exporter of butter (Pugel 312). Thus, farmers may actually grow crops for which production costs are not covered by the prevailing market prices, but payments make production of these crops profitable to them. The CAP has also caused concern for the environment as well as concerns for the economy. Because of the subsidies provided to farmers, they have the incentive to produce more agricultural products because they will receive more money. The CAP price policies have encouraged intensive farming and the overuse of antibiotics, pesticides, and nitrates. This has put a strain on the environment and has concerned the people of the European Union. The policy did not foresee farmers overproducing and over using chemicals, but this has become an indirect cost created by the policy. Europeans are also concerned with food safety because of farmers using so many chemicals in production. Farmers have been getting away with using the chemicals and unsafe practices because of the limited food safety regulations. Policymakers believed that high price supports would lead to higher food safety and quality. â€Å"High support prices do not increase either food safety or quality: indeed, minimum prices a nd intervention guarantees encourage low quality and standardized produce† (Consumers in Europe group). Under the CAP, the European Union countries have shifted from net importers to net exporters of food products. With the EU subsidizing the agricultural sector so heavily, as to raise some sectors, such as non-grain crops, to eight times larger than it would normally be at (Borrell 18). This has drawn resources and labour out of other sectors of the economy and into the agricultural sector because of the subsidies. â€Å"These costs and resource misallocation reduce the total output and income of the European Union† (Borrell 18). Borrell charts the percentage changes in specific industries due to the CAP in the EU. For example, the CAP has caused negative changes in the following industries: construction and utilities are down one percent, the service industry is down two percent, the manufacturing sector in down almost five percent, and other primary products are down almost six percent (Borrell 20). This information demonstrates that CAP is taking away resources from these se rvice type industries and placing it in the agricultural sector. The transference of these resources is coming at the cost of the consumers, taxpayers, or society as a whole. The effects of the EU Common Agricultural Policy have not just altered the European Unions economy, but it has also restructured other economies throughout the world. The CAP has caused farmers to produce a surplus of agricultural goods in the EU. This has led to dumping of these products into other countries. As a result, importing countries have shifted away from producing agricultural goods to goods such as manufacturing, construction, services, and other primary goods. The United States and Canada have experienced a decrease in agricultural production due to the CAP. Combined, the United States and Canada have experienced a decrease of approximately 8.1 percent across primary agricultural goods (as much as 13 percent for non-grain products to as low as 2.9 percent for meat products) (Borrell 23). Also, with cropping exports down between 26 and 45 percent, this shows implications that output has been dropping in the cropping sector. The effects of the CAP have also shifted resourc es in Australia and New Zealand from agriculture to other primary industries. These countries have experienced an expansion in the mining and forestry industries of 7.5 percent (Borrell 21). These examples display how the CAP has suppressed exports of agricultural products and has led to the allocation of resources into other industries in other countries. It is apparent that the Common Agricultural Policy has been and is causing problems not only in the European Union, but it has also been creating problems in the rest of the world. What the CAP has effectively done to the European Union is that it has caused it to become a net exporter of agricultural products when it should be a net importer of these goods. The EUs policy has changed the world markets for agricultural goods and has imposed significant costs to the EUs consumers and taxpayers. Consumers and taxpayers in the EU bear most of the cost of 70 to 80 million US dollars a year, which is used to increase farmers incomes. The taxpayers and consumers are responsible for this increase in cost, which in turn causes an increase in unemployment. â€Å"The CAP was responsible for a loss of one million jobs in the EU manufacturing sector alone. The EU unemployment rate is currently around 10 percent, which is currently 40 percent higher than the OECD (Organization for Economic Co-Op eration and Development) average† (Borrell 20). It is clear that the Common Agricultural Policy is responsible for increases in unemployment, increases in taxpayer cost and consumer burden, drops in farmer income, and harm to international relations. If the CAP were not implemented, many of these issues would be alleviated. There have been significant losses to the European Union as a whole because of the CAP. To understand, however, what this does to an individual country, an analysis of Britain experience must be looked at. In 1973, Great Britain entered the European Community and, therefore, accepted the Common Agricultural Policy (CAP). The acceptance of the CAP caused Britain to move from an agricultural market of free trade and cheap food, to an agricultural market that became the pawn of the European Unions protectionism (Harvey 2). The CAPs main goal was, â€Å"to keep agricultural markets stable, ensure that farmers earn a fair living, and provide consumers with affordable food supplies† (Think quest Library 2). The CAP achieved many goals it set out to accomplish. The very generous price supports to farmers and technological innovation have caused surpluses that are not being offset by a decreasing demand. The CAP has run into criticism in recent times by both British consumers and taxpayers alike, and many citizens and even farmers are calling for its reform. One recent event that caused the European Union to rethink the restrictions of the CAP was the outbreak of mad cow disease in Britain. British cattle that were infected by mad cow disease experienced nervous system breakdown and eventually death. The beef industry suffered in Britain and many of the cattle had to be put to death because they were not suitable to eat. Therefore, the European Union, in 1996, had to impose a British beef export ban (Barclay 21). The ban, and the fall in beef consumption in the UK market, caused the United Kingdom cattle market to lose sales totalling 800 million pounds (Barclay 22). The British were not allowed to export tainted beef to member countries and many member countries feared to import any British beef (Barclay 22). The CAP has hurt Britain in more ways than one. British consumers have been burdened by higher domestic agriculture prices because of CAP policies when they could easily go buy the same product cheaper in the world market. The taxpayers in Britain have been burdened by taxes the European Union imposes to finance subsidies to farmers. Undoubtedly, the United Kingdom would still have to face the mad cow dilemma regardless of its prior entry in the Union. However, the British would be able to develop a unilateral policy in which they would be free from the strict requirements of the European Union.

The Death Penalty: Necessary and Effective Essay -- Pro Capital Punish

It has been abolished in 75 countries and 15 states in the US. Twenty countries report they do not use it, while 100 countries, including the US and 35 of her states, still retain its use. In modern society, the topic of capital punishment remains controversial. Many people question the morality and ethics of executing a human for a crime he or she has committed, which is by all means a valid argument. However, murder is a crime that involves taking the life of another human, and that act needs to be punished justly. We are a society that generally believes a punishment should fit the crime. A life term in prison (three warm meals a day, a bed, medical care, and cable television) is not an appropriate punishment for a capital offense. Those whom claim capital punishment is immoral and unethical would likely say that murder is also immoral and unethical. So, to say that capital punishment for a capital crime is immoral and unethical is hypocritical. Many supporters of abolishing capital punishment in America state that the US constitution prohibits cruel and unusual...

Pop Culture’s Influence on Dating Essay

What’s the best part about dating? The rush of getting to know a new person? The hope that it will lead to something more lasting? For some people it’s the dream to find their true love and have them sweep them off their feet. For others it’s finding a person who doesn’t mind a more casual relationship. Most of the time, they return home only to think about what might have happened if their life went as well as the scripted ones they watch all of the time. They wish that they had a team of writers planning the next move in their romantic lives, and had award winning actors take on their role in life. These people have become victims of the modern age in dating. Be it movies, television, or books, pop culture has helped men and women set unrealistic expectations for dating and romance. We all know that the silver screen puts the rose-colored glasses over romance, but it is how they portray dating in many different genres that is really skewed. Horror movies are expected to end badly, and it is no exception for dating in this movie style. Typically the young couple are terrorized on a date by some knife-wielding maniac out for revenge. That can lead to many assumptions, depending on how the movie ended. If the couple was killed during the course of the film, then it can be concluded that the good die young. But if they both survive (and there isn’t a sequel haunting them) then people may start to believe that true love is formed by going through a traumatic experience with someone. Often times in Horror films, the couple goes out to get some privacy, only to find themselves the killer’s first victims. Not many people get the wrong idea about dating from Horror movies, granted, but what about the plucky love interest for everyone’s favorite Superheros? Mary Jane Watson, Gwen Stacy, Pepper Potts, Peggy Carter, Lois Lane, and Jane Foster to name a few. These women have made a name for themselves by being charmed by Superheros. Their men (Spiderman, Iron Man, Captain America, Superman, and Thor, respectively) are either super strong, super smart, an alien, or any combination of the three. If that d oesn’t give people the wrong idea about romance, then the writers aren’t doing their job. The strong, but constantly endangered, women are intelligent and attractive, leading the â€Å"hero† in the audience to long for the power to fly in and save them from any and all perilous situations. With people wanting a hero, and heroes waiting for their fem fatal, no one is going to make it out of this dating game alive. Superpowers aside, perhaps the most disillusioning movie genre is the Romantic Comedy. Quirky but lovable characters are thrust together in strange situations and they always come out of it with the love of their life. This genre has capitalized on the nice-guy finally getting the girl, the best friends realizing that they were made for each other, and fairy tale endings that warm the audience’s hearts. Men and women alike are fans of the Romantic Comedy, in part because they’re designed that way; the actresses are all attractive or funny, the actors are both, and the script is written for both men and women. Whether or not they admit to it, everyone enjoys a good â€Å"rom-com† after a long day of disappointment, and why not? The protagonist always comes out on top, and there’s always that one great date following all of the duds. For as long as they’ve been around, movies have helped the public set impossible goals for dating, but then television came along and sped up the process. From play dates to wedding dates, television has given a â€Å"Step-by-Step† guide to dating, particularly in shows such as Boy Meets World, Friends, and How I Met Your Mother. In Boy Meets World the viewers watched as Cory Matthews grew up, fell in love, and lived his life. Cory’s â€Å"love-of-his-life† was Tapanga Lawrence, a girl that he started calling his wife in Pre-School. Their relationship went through rough patches, but someone always knew that it was meant to be. The idea that one can meet (and keep) their first love from their childhood days is almost as improbable as thinking that Superheros can swoop in and save the day. Against all odds Cory and Tapanga actually survive dating through High School, and marriage in College. Young children are taught through weekly episodes that true love can be found on the playground, and that while it is imperfect, it is eternal. Boy Meets World was a family oriented show, but what about the shows that were geared more towards the working adult? Friends was a television sitcom that followed the lives of six friends. Viewers watched as their favorite friend fell in and out of love. Rachel and Ross had an on-again, off-again relationship that confused everyone, including the actors. Their relationship was based on attraction but the way they treated each other was, at times, cruel. This couple was volatile at best, and a running joke for viewers; â€Å"Are Ross and Rachel together this week?† Another couple in the show occurred later on in the series, and provides a foil to Ross and Rachel. Chandler and Monica’s relationship was built on friendship and as such was more stable. They were the fun couple who’s lines were joking and who always put the other first. The show was casual with its approach to dating, with non-regular characters coming and going throughout the series. Other shows were not as simple. Soap Operas fall in line with the over-dramatization of romance and dating, and there are many shows that focus on finding love. How I Met Your Mother is literally the drawn out retelling of how Ted Mosby found the mother of his children. These shows, while entertaining and sometimes informative, tell men and women that their true love can be found in everyday places such as work, at a coffee shop, or even on the playground. Television is guilty of helping with today’s dating misconceptions, however the biggest offender is literature by far. â€Å"Bodice Rippers† may not be the only things leading to unrealistic ideas about love; everything from Shakespeare to the Teen Romance section in today’s book stores share some of the blame. Romeo and Juliet is perhaps the most well-known romance story of all time. The main characters are teenagers who pledge their love to each other, despite being from warring families. They kill themselves for love that they think is forever but, historically had they lived and been allowed to marry, one of the lovers would have had an affair or died of natural causes early on in their marriage. Poetry of that time was romantic and well written as well. It really is a pit y that most of those poems were written about love affairs with already married people. They spoke of undeniable attraction, and how they really shouldn’t be denying themselves the love of the other person. Romance novels from later centuries tell readers about an odd sensation of love-at-first-sight. â€Å"Our eyes met, and I knew right then and there that we were meant to be together forever.† This idea is the drug of romance novels, it is what gets readers hooked and coming back for more. People have spent countless hours pouring over books with lines like that acting as major plot devices. Most readers swoon over the muscled heroes, dreaming of being in the heroine’s place. Teen Romance novels take this idea and make it even more impossible. They write in supernatural beings for the awkward teenager to fall in love with. Even if they take away the fantasy element, at heart the stories are improbable. For the most part, teenagers in High School don’t know what romantic love is (or if they do, it is never forever). Teen Romance novels teach teenagers that the love of their life is waiting for them in their Biology class, is the partner on a History assignment, or is the loner who they see in the library everyday. Teenagers who read these books get the idea that they can find a true love in the hormone-ridden home of disappointment that is High School. Escaping the real world by reading isn’t bad, but letting the fiction influence the thought process never ended well for anyone. Pop culture isn’t inherently evil, but when it comes to dating and romance, it is probably best to stop drawing parallels with real life. Movies, books, and literature are supposed to be used as ways to escape reality, not as guidelines for how to live. It would be a little ridiculous to put disclaimers before movies, shows, and books reading â€Å"Warning: Relationships portrayed in this are fictional, and not based on real life† but it’s starting to feel necessary. Not every story has a happy ending, and even those who do aren’t forever. If the public could just learn to stop accepting pop culture as gospel, stop looking for their soul mate where they â€Å"never would have expected†, then the dating world would be a better place. A place where true love doesn’t mean a love against all odds, but a love that is real. Real love is when a couple can get into arguments, be mad at each other and that isn’t the end of the relationship; when it isn’t all rainbows and roses but they’re happy with each other. No one wants to watch a movie about that, but then again, no one wants to watch a baby being born and they film â€Å"the miracle of life† every day. Maybe if more movies, TV shows, and books were realistic, more people would enjoy dating.

Critical Analysis on an extract of The Glass Menagerie by Tennessee William

Critical Analysis on an extract of The Glass Menagerie by Tennessee William "The Glass Menagerie" by Tennessee Williams shows a scene where Amanda (the mother) confronts Tom (her son) who made a grave mistake in match making Laura (his sister) and his best friend, who happens to be engaged. All this events happen within the comfort of the family home, displaying the intense feeling of something ominous just about to happen- the family conflict. This is demonstrated through the failure in the family's ability to communicate and comprehend each other. This creates familiarity within the audience as well as sympathy, as the audience is able to relate to the happenings as depicted. Sympathy wells up within them too as the break up of the family is about to happen, showing how the characters become disappointed and the sense of guilt breaks out within them, in which their only reaction is to flee from it.The extract opens with Amanda facing her son, Tom who appears to be totally nonchalant and self-righteous.Performance Saratov Puppet Theatre "Teremok" Â «Gla... The sarcasm in her tone showed the awkwardness and the escalated tension in the whole event. The opening lines "Come in here a minute. I want to tell you something awfully funny" shows how the use of oxymoron emphasize on the distant nature between mother and son, fencing a barrier between them, as a result of their inability to communicate, finally ending in the contrasting interests between them.What more, Tom's lines of "The warehouse is where I work, not where I know things about people!" shows his inability in relating to others, including his family. This stirs up sympathy from the audience towards Tom as his inability to feel belonged to someplace force him to become entrapped in his own world as suggested by the lines "You don't know things anywhere! You live in a dream; you manufacture illusions!"...

SPSS analysis on modern portfolio theory-optimal portfolio strategies in today’s capital market The WritePass Journal

SPSS analysis on modern portfolio theory-optimal portfolio strategies in today’s capital market Introduction SPSS analysis on modern portfolio theory-optimal portfolio strategies in today’s capital market IntroductionResearch MethodologyResults and Data AnalysisConclusion and Implications of Research FindingsReferencesRelated Abstract This paper provides information on specific ideas embedded in single index model/construction of optimal portfolios compared to the classic Markowitz model. Important arguments are presented regarding the validity of these two models. The researcher utilises SPSS analysis to demonstrate important research findings. This type of analysis is conducted to explore the presence of any significant statistical difference between the variance of the single index model and the Markowitz model. The paper also includes implications for investors. Introduction In the contemporary environment involving business investments, selecting appropriate investments is a relevant task of most organisations. Rational investors try to minimise risks as well as maximise returns on their investments (Better, 2006). The ultimate goal is to reach a level identified as optimal portfolios. The focus in this process is on initiating the portfolio selection models, which are essential for optimising the work of investors. Research shows that the Markowitz model is the most suitable model for conducting stock selection, as this is facilitated through the use of a full covariance matrix (Bergh and Rensburg, 2008). The importance of this study reflects in the application of different models so as to develop adequate portfolios in organisations. It is essential to compare certain models because investors may be provided with sufficient knowledge about how they can best construct their portfolios. In this context, the precise variance of the portfolio selection model is important, as it reflects portfolio risk (Bergh and Rensburg, 2008). Information on the parameters of different models is significant to make the most appropriate decisions regarding portfolio creation. Markowitz is a pioneer in the research on portfolio analysis, as his works have contributed to enhancing investors’ perspectives on the available options regarding specific models of constructing optimal portfolios (Fernandez and Gomez, 2007). Research Methodology The research question presented in this study referred to the exploration of ideas embedded in single index model/construction of optimal portfolios and comparing them with the classic Markowitz model. The focus was on the construction of optimal portfolios, as the researcher was concerned with the evaluation of constructed portfolios with specific market parameters (Better, 2006). Moreover, the researcher paid attention to the stock market price index, including stocks of organisations distributed in three major sectors: services, financial, and industrial (Fernandez and Gomez, 2007). The behaviour of this index was explored through the implementation of SPSS analysis. The data covered a period of seven years, starting on January 1, 2000 and ending on December 31, 2006. It was essential to evaluate the effectiveness parameters of the single index model/construction of optimal portfolios and the Markowitz model. The criteria for the selection of companies included that all organisati ons shared the same fiscal year (ending each year on December 31) as well as they have not demonstrated any change in position. Results and Data Analysis The research methodology utilised in the study is based on the model of single index/optimal portfolios and the Markowitz model. The exploration of the relationship between these two models required the selection of 35 equally weighted optimal portfolios, as two sizes of portfolio were outlined. An approximate number of 10 optimal portfolios represented the first size, which further generated 12 portfolios. In addition, the researcher considered the option of simulating of optimal portfolios represented at second sizes (Bergh and Rensburg, 2008). The criterion of queuing randomise portfolio selection has been used to generate approximate 23 portfolios from the second size category. The researcher selected five and 10 stocks to analyse the data. The portfolio size split allowed the researcher to explore how the portfolio size could be used to affect the relationship between the single index model/optimal portfolios and the Markowitz model (Fernandez and Gomez, 2007). Results of testin g the data are provided in the table below: Optimal portfolio number Variance of Single Index Model Variance of the Markowitz Model Optimal portfolio number Variance of the Single Index Model Variance of the Markowitz Model 10 0.0037 0.0039 5 0.0021 0.0023 10 0.0014 0.0017 5 0.0028 0.0038 10 0.0021 0.0028 5 0.0042 0.0051 10 0.0020 0.0021 5 0.0025 0.0030 10 0.0031 0.0035 5 0.0026 0.0024 10 0.0019 0.0019 5 0.0033 0.0038 10 0.0088 0.0086 5 0.0067 0.0071 10 0.0028 0.0037 5 0.0037 0.0053 10 0.0025 0.0024 5 0.0038 0.0043 10 0.0022 0.0023 5 0.0021 0.0020 10 0.0019 0.0020 5 0.0063 0.0061 10 0.0023 0.0026 5 0.0212 0.0202 Table 1: Variance of Five and 10 Optimal Portfolios Based on the results provided in the table, it can be concluded that the variance between the single index model/construction of optimal portfolios and the Markowitz model is similar. For instance, values of 0.0020 and 0.0019 for the variance of the two models are similar. This means that the results do not show substantial statistical differences between the two models. The tables below contain a descriptive summary of the results presented in the previous table: Measure Single Index Model Markowitz Model Mean 0.0044 0.0047 Minimal 0.0021 0.0020 Maximum 0.0212 0.0202 Standard Deviation 0.0037 0.0035 Table 2: Descriptive Summary of 10 Optimal Portfolios The results in Table 2 were derived from testing the performance of 10 optimal portfolios. It has been indicated that the mean for the single index model of 10 portfolios is 0.0044, while the mean for the Markowitz model is 0.0047, implying an insignificant statistical difference. The minimal value of the single index model is reported at 0.0021, while the minimal value of the Markowitz model is 0.0020. The difference is insignificant. The maximum value of the single index model is 0.0212, while the same value of the Markowitz model is 0.0202. Based on these values, it can be argued that there is a slight difference existing between the two models. The standard deviation of the single index model is 0.0037, while the standard deviation of the Markowitz model is 0.0035, which also reflects an insignificant statistical difference. Measure Single Index Model Markowitz Model Mean 0.0028 0.0031 Minimal 0.0014 0.0017 Maximum 0.0088 0.0086 Standard Deviation 0.0020 0.0019 Table 3: Descriptive Summary of 5 Optimal Portfolios Table 3 provides the results for five optimal portfolios. These results are similar to the ones reported previously (10 optimal portfolios). The mean for the single index model of 5 optimal portfolios is 0.0028, while the mean for the Markowitz model is 0.0031, implying an insignificant statistical difference. There are insignificant differences between the two models regarding other values, such as minimal and maximum value as well as standard deviation. Furthermore, the researcher performed an ANOVA analysis of 10 optimal portfolios, which are presented in the table below. It has been indicated that the effective score for the single index model and the Markowitz model is almost the same. Yet, an insignificant difference was reported between the two means and standard deviations for both models. ANOVA Analysis Sum of squares Df Condition Mean Standard Deviation Standard Error Mean F Sig. Between Groups .000 1 1.000 .003125 .0018704 .0005399 .089 .768 Within Groups .000 22 2.000 .002892 .0019589 .0005655 Total .000 23 Table 4: ANOVA Analysis for the Variance between the Single Index Model and the Markowitz Model of 10 Portfolios From the conducted analysis, it can be also concluded that the F-test presents an insignificant statistical value, implying that the researcher rejected the hypothesis of a significant difference existing between portfolio selections with regards to risk in both models used in the study (Fernandez and Gomez, 2007). Hence, the hypothesis of a significant difference between the variance of the single index model and the Markowitz model was rejected (Lediot and Wolf, 2003). In the table below, the researcher provided the results of an ANOVA analysis conducted on five optimal portfolios: ANOVA Analysis Sum of Squares Df Condition Mean Standard Deviation Standard Error Mean F Sig. Between Groups .000 1 1.000 .004852 .0036535 .0007618 .096 .758 Within Groups .001 44 2.000 .004509 .0038595 .0008048 Total .001 45 Table 5: ANOVA Analysis for the Variance between the Single Index Model and the Markowitz Model of 5 Portfolios The results from Table 5 show that the variance between the single index model and the Markowitz model of five optimal portfolios is almost the same. Regardless of the stock number in the selected optimal portfolios, there is no significant statistical difference between the single index model and the Markowitz model. The main finding based on the reported data is that the single index model/construction of optimal portfolios is similar to the Markowitz model with regards to the formation of specific portfolios (Bergh and Rensburg, 2008). As indicated in this study, the precise number of stocks in the constructed optimal portfolios does not impact the final result of comparing the two analysed models. The fact that these models are not significantly different from each other can prompt investors to use the most practical approach in constructing optimal portfolios (Haugen, 2001). Placing an emphasis on efficient frontiers is an important part of investors’ work, as they are focused on generating the most efficient portfolios at the lowest risk. As a result, optimally selected portfolios would be able to generate positive returns for organisations. This applies to both the single index model and the Markowitz model (Fernandez and Gomez, 2007). Conclusion and Implications of Research Findings The results obtained in the present study are important for various parties. Such results may be of concern to policy makers, investors as well as financial market participants. In addition, the findings generated in the study are similar to findings reported by other researchers in the field (Bergh and Rensburg, 2008). It cannot be claimed that either of the approaches has certain advantages over the other one. Even if the number of stocks is altered, this does not reflect in any changes of the results provided by the researcher in this study. Yet, the major limitation of the study is associated with the use of monthly data. It can be argued that the use of daily data would be a more viable option to ensure accuracy, objectivity as well as adherence to strict professional standards in terms of investment (Better, 2006). In conclusion, the similarity of the single index model and the Markowitz model encourage researchers to use both models equally because of their potential to generate optimal portfolios. Moreover, the lack of significant statistical differences between the variance of the single index model and the Markowitz model can serve as an adequate basis for investors to demonstrate greater flexibility in the process of making portfolio selection decisions (Haugen, 2001). The results obtained in the study were used to reject the hypotheses that were initially presented. As previously mentioned, the conducted F-test additionally indicates that the single index model and the Markowitz model are almost similar in scope and impact (Fernandez and Gomez, 2007). Investors should consider that portfolio selection models play an important role in determining the exact amount of risk taking while constructing optimal portfolios. Hence, investors are expected to thoroughly explore those models while they select their portfolios (Garlappi et al., 2007). Both individual and institutional investors can find the results generated in this study useful to facilitate their professional practice. A possible application of the research findings should be considered in the process of embracing new investment policies in the flexible organisational context (Bergh and Rensburg, 2008). Future research may extensively focus on the development of new portfolio selection models that may further expand the capacity of organisations to improve their performance on investment risk taking indicators. References Bergh, G. and Rensburg, V. (2008). ‘Hedge Funds and Higher Moment Portfolio Performance Appraisals: A General Approach’. Omega, vol. 37, pp. 50-62. Better, M. (2006). ‘Selecting Project Portfolios by Optimizing Simulations’. The Engineering Economist, vol. 51, pp. 81-97. Fernandez, A. and Gomez, S. (2007). ‘Portfolio Selection Using Neutral Networks’. Computers Operations Research, vol. 34, pp. 1177-1191. Garlappi, L., Uppal, R., and Wang, T. (2007). ‘Portfolio Selection with Parameter and Model Uncertainty: A Multi-Prior Approach’. The Review of Financial Studies, vol. 20, pp. 41-81. Haugen, R. (2001). Modern Investment Theory. New Jersey: Prentice Hall. Lediot, O. and Wolf, M. (2003). ‘Improved Estimation of the Covariance Matrix of Stock Returns with an Application to Portfolio Selection’. Journal of Finance, vol. 10, pp. 603-621.

SULA Assignment Example | Topics and Well Written Essays - 500 words

SULA - Assignment Example Therefore, this essay will focus on the highlights about the themes utilized by Morrison in her novel including friendships, choices, and pride. The theme of friendship makes the central force in the novel. It helps to sustain the characters and get them through the hardships of real life situations. The relationships and friendships depicted in Sula emerge as difficult and complicated. They cause pain to the individuals whose relationships did not bear fruit as they had expected. For instance, the friendship between Sula and Nel finally leads to Nel’s broken marriage. The situation occurs after Sula returns to Nel’s house, and her idleness lures her to indulge in a meaningless sexual episode. However, Jude holds that his action is due to the undervaluing resulting from Nel’s sense of self-worth (Nigro 736). The theme is interesting since Sula and Nel had a long friendship, and when this happens, the reader intends to know more about what will unfold as the story continues. In this context, options are prevalent throughout the novel as various characters seem to make different decisions ate varied stages of the text. For instance, Sula’s characters struggle with self-identity and determination throughout the story. There are evident characters that choose to take their paths different from the ones exhibited by their parents. They want to follow their desires and ideas regarding what is wrong or right (Nigro 734). The situations create problems to the people that surround them enhancing the curiosity of the reader to unravel what will befall the â€Å"deviant.† Hence, the story becomes interesting as the reader wants to read more to realize what happens to the people that deviate from the society’s expectations. For example, Nel vows to find her self-identity and determination against her mother’s wish. The characters make own decisions that finally have profound effects on the entire society. In the

Toyota Motor Corporation Essay Example | Topics and Well Written Essays - 1500 words

Toyota Motor Corporation - Essay Example On pursuing its business model, Toyota periodically reviews the carrying value of its long-term assets used in the business, including intangible assets as circumstances deserve such review. The company carries out the review using estimates of future cash flows and fair value that the management think would influence the accurate valuation of assets. In the same way, Toyota also needs to consider the assets like high quality fixed income bonds and fixed income bonds that are presently available and anticipated to be available in the future. The company also takes into account the deferred tax assets as there are chances for the actual taxable income to differ from the estimated amounts due to various assumptions (Toyota Motor Corporation, 2010). There are liquid assets in the business which the company defines cash and cash equivalents, time deposits, marketable debt securities that are taken into account to make sure that the company is in line with its business model. However, goo dwill is not material to Toyota’s consolidated balance sheet, and intangible assets with a definite life are amortised on a straight-line basis with estimated useful lifetime of five year. Intangible assets with indefinite life are examined for impairment whenever incidents or circumstance signify that a carrying amount of an asset may not be recuperated. The company evaluates the impairment loss when carrying amount of an asset exceeds the estimated undiscounted cash flows. Toyota’s strategy and aim for plan asset management is to maximise returns on plan assets to meet future benefit payment requirements under risks that the company thinks to be permissible (Toyota Motor Corporation, 2010). Assets in financial accounting can be considered as the economic resources of the firm. Anything that is touchable or intangible and able to be owned by or administered to produce value by preserving it on the process of obtaining a positive economic value can be regarded as an as set. In simple worlds, asset can be stated as an ownership that can be converted into cash (cash itself is an asset). Asset in simple sense is anything of value that a company owns, including cash and should be recorded on the balance sheet of the company. Even if the firm used credit to purchase an asset, the company still owns it. In such case, the original cost of the asset must be recorded on the asst side of the balance sheet as well as the amount that the company owes should be recorded on the liability side of the balance sheet. The three components that constitute a company’s balance sheet, which illustrate the business’s financial position at any point are assets, liabilities, and owners’ equity (U.S. Securities Exchange Commission, 2007). This association among these three components can be explained using the following equation: Assets = Liabilities + Owners’ Equity This equation sets the framework for keeping trace of money as it flows in and out of the business. Every penny in the business should be recorded into appropriate ledgers, every single transaction into the books using a double-entry system of debit and credit. In general accounting practice, assets are recorded on the top left side of the balance sheet. Assets may be classified in many ways and the principal distinction normally made for business purposes is between: Fixed assets and Current assets. There are other business