Tech Prep Essay -- Technology Education Essays

Tech Prep Although the development and implementation of tech prep education programs have been in process since the initiation of the Carl D. Perkins Act Amendments of 1990, misconceptions about tech prep education still exist. As defined in provisions authorizing Perkins funds for tech prep, a tech prep education program is a combined secondary and postsecondary program that- leads to an associate degree or two-year certificate; provides technical preparation in at least one field of engineering technology; applied science, mechanical, industrial, or practical art or trade; or agriculture, health or business; builds student competence in mathematics, science, and communications (including applied academics) through a sequential course of study; and leads to placement in employment. Tech prep programs are designed to accomplish this agenda through strategies described as "integration," "articulation," and "work-based learning." Although these strategies are reflective of the various tech prep program components, they are diversely interpreted according to the background, education, and experience of those involved in the tech prep initiative. This publication examines some of the myths that have evolved about tech prep and presents the realities of tech prep implementation. Myth: Tech Prep Is an Integration of Academic and Vocational Education Although tech prep is based on the premise that academic and vocational skills cannot be learned in isolation from each other, integration of the two disciplines extends beyond the merging of existing academic and vocational education curriculum. It requires the introduction of new courses, sequenced in an entire program of core curriculum that leads students to d... ...4 (April 1992): 30-31, 53. Boesel, David et al. National Assessment of Vocational Education. Final Report to Congress, Vol III. Program Improvement: Educational Reform. Washington, DC: Office of Research, U.S. Department of Education, July 1994. (ERIC Document Reproduction Service No. ED 371 193) Hull, Dan. Opening Minds, Opening Doors: The Rebirth of American Education. Waco, TX: Center for Occupational Research and Development, 1993. Norton, Robert. "DACUM and Tech Prep: Dynamic Duo." Paper presented at the Mid-America Competency-Based Education Conference, Bloomington, MN, June 1993. (ERIC Document Reproduction Service No. ED 359 339) Stern, David et al. Research on School to Work Transition Programs in the United States. Berkeley, CA: National Center for Research in Vocational Education, March 1994. (ERIC Document Reproduction Service No. ED 369 923)

Army Cadets at Newcastle Under Lyme School often use their .22 ranges :: Computer Science

Army Cadets at Newcastle Under Lyme School often use their .22 ranges and find it extremely hard to see what their shoot total is mid-way through the shoot. Problem Army Cadets at Newcastle Under Lyme School often use their .22 ranges and find it extremely hard to see what their shoot total is mid-way through the shoot. They cannot view the target through the sights on the rifles, as the sights are iron sights. A solution is required whereby this problem can be cured, and the individual shooters can view their statistics with minimal movement required. Brief I am to design a system whereby shooters will be able to view their score for that particular shoot session and also view their statistics upon the same piece of machinery. Continued... The primary output of this product is to be 2 seven-segment displays, which show you the overall score of the shooter after each shot. The secondary output of this product is to be more seven-segment displays, which display relevant pieces of information regarding the shooters statistics, in accordance with their score. The seven segment displays which are to be used will be of varied sizes as the primary seven segment displays are to be larger than the secondary seven segment displays as to let the user view his or her score with great ease. The approximate cost of the product is to be something around the region of about  £25 as to cover the cost of manufacture, components, storage and the battery. The exact cost at this time remains oblivious to me but this is a rough estimate of what the final cost may be. The ease of use is inevitable as this product is to be used primarily by cadets from the Newcastle Under Lyme School CCF; therefore complex manual operations conducted by the user are not required within the product. It is unclear at this time to determine what the customers will be prepared to pay as no primary research has been conducted into the matter. In the coarse of this coursework primary research will be conducted and questions such as "How much will the customers be prepared to pay?" will be answered. This product will be designed to be primarily used on a 30m range therefore I will incorporate 3.5mm jacks within the casing which will lead to the pressure pads which are to be approximately 30m away, but this is also dependant on where the product is placed on the range. The pressure pads will be placed behind the target in a manner by which they can still sense the impact of the .2 rounds and at the same

Accounting Concepts, Conventions and Solutions

Table of Contents QUESTION ONE: Accounting Concepts and Conventions1 a)Accounting Concepts1 i)The going concern concept. 1 ii)The accruals concept (or matching concept)1 iii)The entity concept:3 iv)The money measurement concept:3 v)The historical cost concept:4 vi)The realization concept:4 vii)Duality concept:4 b)Accounting conventions5 QUESTION TWO: Clashing accounting concepts and conventions that might bring about inconsistency in the accounting process9 1. Clash between the accruals/matching concept and the prudence convention9 2. Clash between the historical cost concept and Prudence convention9QUESTION THREE: Solutions to the clashing accounting concepts and conventions11 REFERENCES13 QUESTION ONE: Accounting Concepts and Conventions a) Accounting Concepts Accounting Concepts are broad basic assumptions that underlie the periodic financial accounts of business enterprises. They outline the rules of accounting that should be followed in preparation of all financial statements. T hese concepts are outlined in the International Accounting Standard 1(IAS 1)-presentation of financial statements. The word ‘concept’ in this context means an idea or thought that has a universal application.This includes; i) The going concern concept: implies that the business will continue in operational existence for the foreseeable future, and that there is no intention to put the company into liquidation or to make drastic cutbacks to the scale of operations. Financial statements should be prepared under the going concern basis unless the entity is being (or is going to be) liquidated or if it has ceased (or is about to cease) trading. The directors of a company must also disclose any significant doubts about the company’s future if and when they arise. ( Agatha,2010) The main significance f the going concern concept is that the assets of the business should not be valued at their ‘break-up’ value, which is the amount that they would sell for it they were sold off piecemeal and the business were thus broken up. ii) The accruals concept (or matching concept): states that revenue and costs must be recognized as they are earned or incurred, not as money is received or paid. They must be matched with one another so far as their relationship can be established or justifiably assumed, and dealt with in the profit and loss account of the period to which they relate. ExampleAssume that a firm makes a profit of ? 100 by matching the revenue (? 200) earned from the sale of 20 units against the cost (? 100) of acquiring them. (Williamson,2001) If, however, the firm had only sold eighteen units, it would have been incorrect to charge profit and loss account with the cost of twenty units; there is still two units in stock. If the firm intends to sell them later, it is likely to make a profit on the sale. Therefore, only the purchase cost of eighteen units (? 90) should be matched with the sales revenue, leaving a profit of ? 90. The ba lance sheet would therefore look like this: ? | Assets| | Stock (at cost, i. e. 2 x ? 5)| 10| Debtors (18 x ? 10)| 180| | 190| Liabilities| | Creditors| 100| | 90| Capital (profit for the period)| 90| If, however the firm had decided to give up selling units, then the going concern concept would no longer apply and the value of the two units in the balance sheet would be a break-up valuation rather than cost. Similarly, if the two unsold units were now unlikely to be sold at more than their cost of ? 5 each (say, because of damage or a fall in demand) then they should be recorded on the balance sheet at their net realizable value (i. . the likely eventual sales price less any expenses incurred to make them saleable, e. g. paint) rather than cost. This shows the application of the prudence concept. In this example, the concepts of going concern and matching are linked. Because the business is assumed to be a going concern it is possible to carry forward the cost of the unsold units a s a charge against profits of the next period. Essentially, the accruals concept states that, in computing profit, revenue earned must be matched against the expenditure incurred in earning it. ii) The entity concept: The concept is that accountants regard a business as a separate entity, distinct from its owners or managers. The concept applies whether the business is a limited company (and so recognized in law as a separate entity) or a sole proprietorship or partnership (in which case the business is not separately recognized by the law. iv) The money measurement concept: The money measurement concept states that accounts will only deal with those items to which a monetary value can be attributed.For example, in the balance sheet of a business, monetary values can be attributed to such assets as machinery (e. g. the original cost of the machinery; or the amount it would cost to replace the machinery) and stocks of goods (e. g. the original cost of goods, or, theoretically, the pr ice at which the goods are likely to be sold). The monetary measurement concept introduces limitations to the subject matter of accounts. A business may have intangible assets such as the flair of a good manager or the loyalty of its workforce.These may be important enough to give it a clear superiority over an otherwise identical business, but because they cannot be evaluated in monetary terms they do not appear anywhere in the accounts. v) The historical cost concept: A basic concept of accounting is that resources are normally stated in accounts at historical cost, i. e. at the amount that the business paid to acquire them. An important advantage of this procedure is that the objectivity of accounts is maximized: there is usually objective, documentary evidence to prove the amount paid to purchase an asset or pay an expense.Historical cost means transactions are recorded at the cost when they occurred. In general, accountants prefer to deal with costs, rather than with ‘val ues’. This is because valuations tend to be subjective and to vary according to what the valuation is for. For example, suppose that a company acquires a machine to manufacture its products. The machine has an expected useful life of four years. At the end of two years the company is preparing a balance sheet and has decided what monetary amount to attribute to the asset. vi) The realization concept: Realization: Revenue and profits are recognized when realized.The concept states that revenue and profits are not anticipated but are recognized by inclusion in the income statement only when realized in the form of either cash or of other assets the ultimate cash realization of which can be assessed with reasonable certainty. vii) Duality concept: This concept ensures that transactions are recorded in books at least in two accounts, if one account is debited it’s also credited with the same amount in a different account. The recording system is also known as double entry system. Assets = Liabilities + Capital.Every transaction has a two-fold effect in the accounts and is the basis of double entry bookkeeping. b) Accounting conventions Conventions, unlike concepts, are guidelines derived by usage and practice. They are guidelines that arise from the practical application of accounting principles. An accounting convention is not a legally-binding practice; rather, it is a generally-accepted convention based on customs, and is designed to help accountants overcome practical problems that arise out of the preparation of financial statements. As customs change, so to will accounting conventions.Basically, conventions fill in the gaps between guidelines and practical usage. If an accounting regulatory body sets forth a guideline that addresses the same topic as the accounting convention, the accounting convention will no longer be applicable. Concepts supersede conventions. i) The consistency concept states that in preparing accounts consistency should be observed in two respects. a)Similar items within a single set of accounts should be given similar accounting treatment. b)The same treatment should be applied from one period to another in accounting for similar items.This enables valid comparisons to be made from one period to the next. (Crovit,2008) An accounting method used in one accounting period should be the same as the method used for events or transactions which are materially similar in other period (i. e. accounting practices should remain unchanged from period to period ). This also involves treatment of transaction and valuation method. Consistency is also advisable so that the comparison of accounting figures over time is meaningful. Consistency also states that if a change becomes necessary, the change and its effect should be clearly stated. i) The materiality concept: An item is considered material if it’s omission or misstatement will affect the decision making process of the users. Materiality depends on t he nature and size of the item. Only items material in amount or in their nature will affect the true and fair view given by a set of accounts. An error that is too trivial to affect anyone’s understanding of the accounts is referred to as immaterial. In preparing accounts it is important to assess what is material and what is not, so that time and money are not wasted in the pursuit of excessive detail.Determining whether or not an item is material is a very subjective exercise. There is no absolute measure of materiality. It is common to apply a convenient rule of thumb (for example to define material items as those with a value greater than 5% of the net profit disclosed by the accounts). But some items disclosed in accounts are regarded as particularly sensitive and even a very small misstatement of such an item would be regarded as a material error. An example in the accounts of a limited company might be the amount of remuneration paid to directors of the company.The as sessment of an item as material or immaterial may affect its treatment in the accounts. For example, the profit and loss account of a business will show the expenses incurred by he business grouped under suitable captions (heating and lighting expenses, rent and rates expenses etc); but in the case of very small expenses it may be appropriate to lump them together under a caption such as ‘sundry expenses’, because a more detailed breakdown would be inappropriate for such immaterial amounts. a)If a balance sheet shows fixed assets of ? million and stocks of ? 30,000 an error of ? 20,000 in the depreciation calculations might not be regarded as material, whereas an error of ? 20,000 in the stock valuation probably would be. In other words, the total of which the erroneous item forms part must be considered. b)If a business has a bank loan of ? 50,000 balance and a ? 55,000 balance on bank deposit account, it might well be regarded as a material misstatement if these two a mounts were displayed on the balance sheet as ‘cash at bank ? ,000’. In other words, incorrect presentation may amount to material misstatement even if there is no monetary error. iii) The Prudence convention (conservatism): The prudence convention ( classified as a concept by some others) states that where alternative procedures, or alternative valuations, are possible, the one selected should be the one that gives the most cautious presentation of the business’s financial position or results.This policy tends to understate rather than overstate net assets and net income, and therefore lead entities to â€Å"play safe†. In accounting, it states that when choosing between two solutions, the one that will be least likely to overstate assets and income should be selected. According to this concept â€Å"expected losses are losses but expected gains are not gains†. On the basis of this concept closing stock is valued at cost price or market price, whic hever is lower. Provisions for bad and doubtful debts are maintained.Therefore, revenue and profits are not anticipated but are recognized by inclusion in the profit and loss account only when realized in the form of either cash or of other assets the ultimate cash realization of which can be assessed with reasonable certainty: provision is made for all liabilities (expenses and losses) whether the amount of these is known with certainty or is best estimate in the light of the information available. (Pixley,2002) Assets and profits should not be overstated, but a balance must be achieved to prevent the material overstatement of liabilities or losses.The other aspect of the prudence concept is that where a loss is foreseen, it should be anticipated and taken into account immediately. If a business purchases stock for ? 1,200 but because of a sudden slump in the market only ? 900 is likely to be realized when the stock is sold the prudence concept dictates that the stock should be val ued at ? 900. It is not enough to wait until the stock is sold, and then recognize the ? 300 loss; it must be recognized as soon as it is foreseen. (Pixley,2002) A profit can be considered to be a realized profit when it is in the form of: †¢Cash Another asset that has a reasonably certain cash value. This includes amounts owing from debtors, provided that there is a reasonable certainty that the debtors will eventually pay up what they owe. Example A company begins trading on 1 January 20X2 and sells goods worth ? 100,000 during the year to 31 December. At 31 December there are debts outstanding of ? 15,000. Of these, the company is now doubtful whether ? 6,000 will ever be paid. The company should make a provision for doubtful debts of ? 6,000. Sales for 20Ãâ€"5 will be shown in the profit and loss account at their full value of ? 00,000, but the provision for doubtful debts would be a charge of ? 6,000. Because there is some uncertainty that the sales will be realized in th e form of cash, the prudence concept dictates that the ? 6,000 should not be included in the profit for the year. iv) Objectivity (neutrality): An accountant must show objectivity in his work. This means he should try to strip his answers of any personal opinion or prejudice and should be as precise and as detailed as the situation warrants. The result of this should be that any number of accountants will give the same answer independently of each other.Objectivity means that accountants must be free from bias. They must adopt a neutral stance when analyzing accounting data. In practice objectivity is difficult. Two accountants faced with the same accounting data may come to different conclusions as to the correct treatment. It was to combat subjectivity that accounting standards were developed. v) Full disclosure It states that information that might affect the judgments of the users of financial information should be presented in the main body of financial statements or in the not es or as supplementary information.Amounts and kinds of information disclosed should be decided based on a tradeoff analysis as a larger amount of information costs more to prepare than to use. Information disclosed should be enough to make a judgment while keeping costs reasonable. QUESTION TWO: Clashing accounting concepts and conventions that might bring about inconsistency in the accounting process Accounting concepts or conventions could clash or there could be inconsistency between them in such a way that users may have more than one definite method of treating items in the financial statements hence causing uncertainty.Examples include: 1. Clash between the accruals/matching concept and the prudence convention The accruals concept requires future income (e. g. in relation to credit sales) to be accrued. On the other hand the prudence concept dictates that caution should be exercised, so that if there is doubt about the subsequent receipt, no accrual should be made. There is a clash in that credit sales should be recognised immediately the sale is made (regardless of payment) under accrual concept while prudence states that incomes be recognized only when receipt is certain.A good example would be the treatment of deferred revenue expenditures that are usually spread over a number of years, during which the organisation is expected to earn additional revenue out of the expenditure. While this treatment is an accepted principle, there may be a counter-treatment, argued by another group, to charge the item as an expense, the entire amount in the year it was spent, on the grounds of conservatism/prudence. In other words, there may be a direct clash between the accruals and conservatism principles. 2.Clash between the historical cost concept and Prudence convention The prudence convention states that where alternative procedures, or alternative valuations, are possible, the one selected should be the one that gives the most cautious presentation of the busin ess’s financial position or results. Therefore it requires that stocks should always be valued at the lowest of cost or net realisable value. Net realisable value is the selling price of the stock minus any costs involved in getting this stock into saleable condition (e. g. repair costs).This means that we can value stock at current market rates, but only if the selling price is lower than the cost. However, if the replacement cost of these stocks is lower than cost or net realisable value then it may seem prudent to use the replacement cost to value these stocks. On the other hand, the historical cost concept implies that all assets acquired, service rendered or received, expenses incurred etc. should be recorded in the books at the price at which it was acquired (its cost price). The cost is distinct from its value and the record does not signify the value.It also holds that cost is the most reliable and verifiable value at which a good is or services should be initially re cognized. Therefore in determining inventory prices, the two principles may clash in application. QUESTION THREE: Solutions to the clashing accounting concepts and conventions William (2001) outlines basic rules that should be observed in applying particular accounting concepts in case of conflict. He states that despite the fact that most of the concepts have been universally accepted, accountants quite often come across situations where two concepts are in onflict and one overrides the application of the other. These are situations where an accountant will find it necessary to apply his professional skill and judgment to come up with the best possible solution. To quote from IAS 1, â€Å"There are many different accounting policies in use even in relation to the same subject: judgment is required in selecting and applying those which, in the circumstances of the enterprise, are best suited to present properly its financial position and the results of its operation. † 1. Sol ution to the clash between accruals and prudence When there is a clash between the two, prudence prevails.Although the accruals concept is universally accepted in trading and manufacturing organizations, there are occasions when the concept of conservatism overrides the application of the accruals concept. A typical example would be the accounts prepared for professional firms of accountants, lawyers and medical practitioners. In these accounts, recognition is generally given to the accruals concept insofar as it relates to expenses. In computing the incomes, however, a rather conservative approach is followed and only those items that are actually realized are accounted for in the accounts.This treatment has been accepted by the accountancy profession on the grounds of conservatism, although it generally defeats the concept of the accruals concept. When the accountant has a choice between two alternative treatments, remember, he should select the one that shows a less encouraging p osition of the financial situation. To follow the principle of conservatism is not easy; and good judgment is necessary to decide the right course of action. There is however, a great deal of difference between being conservative and being over conservative.The rule of conservatism should not be stretched to the point where it might eventually result in distorting the financial results. For example, capital items such as buildings, vehicles, machinery etc, which are capitalized in accordance with Generally Accepted Accounting Principles (GAAPs), must always be capitalized and no deviation should be recommended on the grounds of conservatism. 2. Solution to the clash between historical cost concept and Prudence convention Williamson (2001) states that prudence should prevail over the historical cost concept.This is important in order for financial statements to avoid overstating profits or disguising losses which may lead users to make wrong decisions. An example is that of fixed ass ets which should be valued at their historical cost (because it is objective). However, it is prudent to reduce their values to reflect wear and tear so as not to overstate profits. Also, according to the accruals concept, we should match an expense to when it was incurred. Therefore, fixed assets should appear as their historical cost less any depreciation.Also, the cost of these assets should be ‘spread' over their lifetime in the accounts. REFERENCES 1. Agatha J. , Mengyu and W. ,Askew S. ,(2010). â€Å"The Switch from US GAAP to IFRS†. Proceedings of the Northeast Business & Economics Association 48–54 2. Arens A. , and Loebbecke, J. , â€Å"Auditing, an integrated approach†, 1980 Prentice Hall 3. Carruthers, Bruce G. , & Espeland, Wendy Nelson, Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality, American Journal of Sociology, Vol. 7, No. 1, July 1991, pp. 40-41,44 46 4. Crovitz, L. (2008). â€Å"Closing the Information GAAP†. The Wall Street Journal vol III 5. Oldroyd, David & Dobie, Alisdair: Themes in the history of bookkeeping, The Routledge Companion to Accounting History, London, July 2008 6. Pixley, Francis William: Accountancy—constructive and recording accountancy (Sir Isaac Pitman & Sons, Ltd, London, 2002) 7. Williamson, D. (2001), Accounting Business Spreadsheeting, Prentice Hall, London Accounting Concepts, Conventions and Solutions Table of Contents QUESTION ONE: Accounting Concepts and Conventions1 a)Accounting Concepts1 i)The going concern concept. 1 ii)The accruals concept (or matching concept)1 iii)The entity concept:3 iv)The money measurement concept:3 v)The historical cost concept:4 vi)The realization concept:4 vii)Duality concept:4 b)Accounting conventions5 QUESTION TWO: Clashing accounting concepts and conventions that might bring about inconsistency in the accounting process9 1. Clash between the accruals/matching concept and the prudence convention9 2. Clash between the historical cost concept and Prudence convention9QUESTION THREE: Solutions to the clashing accounting concepts and conventions11 REFERENCES13 QUESTION ONE: Accounting Concepts and Conventions a) Accounting Concepts Accounting Concepts are broad basic assumptions that underlie the periodic financial accounts of business enterprises. They outline the rules of accounting that should be followed in preparation of all financial statements. T hese concepts are outlined in the International Accounting Standard 1(IAS 1)-presentation of financial statements. The word ‘concept’ in this context means an idea or thought that has a universal application.This includes; i) The going concern concept: implies that the business will continue in operational existence for the foreseeable future, and that there is no intention to put the company into liquidation or to make drastic cutbacks to the scale of operations. Financial statements should be prepared under the going concern basis unless the entity is being (or is going to be) liquidated or if it has ceased (or is about to cease) trading. The directors of a company must also disclose any significant doubts about the company’s future if and when they arise. ( Agatha,2010) The main significance f the going concern concept is that the assets of the business should not be valued at their ‘break-up’ value, which is the amount that they would sell for it they were sold off piecemeal and the business were thus broken up. ii) The accruals concept (or matching concept): states that revenue and costs must be recognized as they are earned or incurred, not as money is received or paid. They must be matched with one another so far as their relationship can be established or justifiably assumed, and dealt with in the profit and loss account of the period to which they relate. ExampleAssume that a firm makes a profit of ? 100 by matching the revenue (? 200) earned from the sale of 20 units against the cost (? 100) of acquiring them. (Williamson,2001) If, however, the firm had only sold eighteen units, it would have been incorrect to charge profit and loss account with the cost of twenty units; there is still two units in stock. If the firm intends to sell them later, it is likely to make a profit on the sale. Therefore, only the purchase cost of eighteen units (? 90) should be matched with the sales revenue, leaving a profit of ? 90. The ba lance sheet would therefore look like this: ? | Assets| | Stock (at cost, i. e. 2 x ? 5)| 10| Debtors (18 x ? 10)| 180| | 190| Liabilities| | Creditors| 100| | 90| Capital (profit for the period)| 90| If, however the firm had decided to give up selling units, then the going concern concept would no longer apply and the value of the two units in the balance sheet would be a break-up valuation rather than cost. Similarly, if the two unsold units were now unlikely to be sold at more than their cost of ? 5 each (say, because of damage or a fall in demand) then they should be recorded on the balance sheet at their net realizable value (i. . the likely eventual sales price less any expenses incurred to make them saleable, e. g. paint) rather than cost. This shows the application of the prudence concept. In this example, the concepts of going concern and matching are linked. Because the business is assumed to be a going concern it is possible to carry forward the cost of the unsold units a s a charge against profits of the next period. Essentially, the accruals concept states that, in computing profit, revenue earned must be matched against the expenditure incurred in earning it. ii) The entity concept: The concept is that accountants regard a business as a separate entity, distinct from its owners or managers. The concept applies whether the business is a limited company (and so recognized in law as a separate entity) or a sole proprietorship or partnership (in which case the business is not separately recognized by the law. iv) The money measurement concept: The money measurement concept states that accounts will only deal with those items to which a monetary value can be attributed.For example, in the balance sheet of a business, monetary values can be attributed to such assets as machinery (e. g. the original cost of the machinery; or the amount it would cost to replace the machinery) and stocks of goods (e. g. the original cost of goods, or, theoretically, the pr ice at which the goods are likely to be sold). The monetary measurement concept introduces limitations to the subject matter of accounts. A business may have intangible assets such as the flair of a good manager or the loyalty of its workforce.These may be important enough to give it a clear superiority over an otherwise identical business, but because they cannot be evaluated in monetary terms they do not appear anywhere in the accounts. v) The historical cost concept: A basic concept of accounting is that resources are normally stated in accounts at historical cost, i. e. at the amount that the business paid to acquire them. An important advantage of this procedure is that the objectivity of accounts is maximized: there is usually objective, documentary evidence to prove the amount paid to purchase an asset or pay an expense.Historical cost means transactions are recorded at the cost when they occurred. In general, accountants prefer to deal with costs, rather than with ‘val ues’. This is because valuations tend to be subjective and to vary according to what the valuation is for. For example, suppose that a company acquires a machine to manufacture its products. The machine has an expected useful life of four years. At the end of two years the company is preparing a balance sheet and has decided what monetary amount to attribute to the asset. vi) The realization concept: Realization: Revenue and profits are recognized when realized.The concept states that revenue and profits are not anticipated but are recognized by inclusion in the income statement only when realized in the form of either cash or of other assets the ultimate cash realization of which can be assessed with reasonable certainty. vii) Duality concept: This concept ensures that transactions are recorded in books at least in two accounts, if one account is debited it’s also credited with the same amount in a different account. The recording system is also known as double entry system. Assets = Liabilities + Capital.Every transaction has a two-fold effect in the accounts and is the basis of double entry bookkeeping. b) Accounting conventions Conventions, unlike concepts, are guidelines derived by usage and practice. They are guidelines that arise from the practical application of accounting principles. An accounting convention is not a legally-binding practice; rather, it is a generally-accepted convention based on customs, and is designed to help accountants overcome practical problems that arise out of the preparation of financial statements. As customs change, so to will accounting conventions.Basically, conventions fill in the gaps between guidelines and practical usage. If an accounting regulatory body sets forth a guideline that addresses the same topic as the accounting convention, the accounting convention will no longer be applicable. Concepts supersede conventions. i) The consistency concept states that in preparing accounts consistency should be observed in two respects. a)Similar items within a single set of accounts should be given similar accounting treatment. b)The same treatment should be applied from one period to another in accounting for similar items.This enables valid comparisons to be made from one period to the next. (Crovit,2008) An accounting method used in one accounting period should be the same as the method used for events or transactions which are materially similar in other period (i. e. accounting practices should remain unchanged from period to period ). This also involves treatment of transaction and valuation method. Consistency is also advisable so that the comparison of accounting figures over time is meaningful. Consistency also states that if a change becomes necessary, the change and its effect should be clearly stated. i) The materiality concept: An item is considered material if it’s omission or misstatement will affect the decision making process of the users. Materiality depends on t he nature and size of the item. Only items material in amount or in their nature will affect the true and fair view given by a set of accounts. An error that is too trivial to affect anyone’s understanding of the accounts is referred to as immaterial. In preparing accounts it is important to assess what is material and what is not, so that time and money are not wasted in the pursuit of excessive detail.Determining whether or not an item is material is a very subjective exercise. There is no absolute measure of materiality. It is common to apply a convenient rule of thumb (for example to define material items as those with a value greater than 5% of the net profit disclosed by the accounts). But some items disclosed in accounts are regarded as particularly sensitive and even a very small misstatement of such an item would be regarded as a material error. An example in the accounts of a limited company might be the amount of remuneration paid to directors of the company.The as sessment of an item as material or immaterial may affect its treatment in the accounts. For example, the profit and loss account of a business will show the expenses incurred by he business grouped under suitable captions (heating and lighting expenses, rent and rates expenses etc); but in the case of very small expenses it may be appropriate to lump them together under a caption such as ‘sundry expenses’, because a more detailed breakdown would be inappropriate for such immaterial amounts. a)If a balance sheet shows fixed assets of ? million and stocks of ? 30,000 an error of ? 20,000 in the depreciation calculations might not be regarded as material, whereas an error of ? 20,000 in the stock valuation probably would be. In other words, the total of which the erroneous item forms part must be considered. b)If a business has a bank loan of ? 50,000 balance and a ? 55,000 balance on bank deposit account, it might well be regarded as a material misstatement if these two a mounts were displayed on the balance sheet as ‘cash at bank ? ,000’. In other words, incorrect presentation may amount to material misstatement even if there is no monetary error. iii) The Prudence convention (conservatism): The prudence convention ( classified as a concept by some others) states that where alternative procedures, or alternative valuations, are possible, the one selected should be the one that gives the most cautious presentation of the business’s financial position or results.This policy tends to understate rather than overstate net assets and net income, and therefore lead entities to â€Å"play safe†. In accounting, it states that when choosing between two solutions, the one that will be least likely to overstate assets and income should be selected. According to this concept â€Å"expected losses are losses but expected gains are not gains†. On the basis of this concept closing stock is valued at cost price or market price, whic hever is lower. Provisions for bad and doubtful debts are maintained.Therefore, revenue and profits are not anticipated but are recognized by inclusion in the profit and loss account only when realized in the form of either cash or of other assets the ultimate cash realization of which can be assessed with reasonable certainty: provision is made for all liabilities (expenses and losses) whether the amount of these is known with certainty or is best estimate in the light of the information available. (Pixley,2002) Assets and profits should not be overstated, but a balance must be achieved to prevent the material overstatement of liabilities or losses.The other aspect of the prudence concept is that where a loss is foreseen, it should be anticipated and taken into account immediately. If a business purchases stock for ? 1,200 but because of a sudden slump in the market only ? 900 is likely to be realized when the stock is sold the prudence concept dictates that the stock should be val ued at ? 900. It is not enough to wait until the stock is sold, and then recognize the ? 300 loss; it must be recognized as soon as it is foreseen. (Pixley,2002) A profit can be considered to be a realized profit when it is in the form of: †¢Cash Another asset that has a reasonably certain cash value. This includes amounts owing from debtors, provided that there is a reasonable certainty that the debtors will eventually pay up what they owe. Example A company begins trading on 1 January 20X2 and sells goods worth ? 100,000 during the year to 31 December. At 31 December there are debts outstanding of ? 15,000. Of these, the company is now doubtful whether ? 6,000 will ever be paid. The company should make a provision for doubtful debts of ? 6,000. Sales for 20Ãâ€"5 will be shown in the profit and loss account at their full value of ? 00,000, but the provision for doubtful debts would be a charge of ? 6,000. Because there is some uncertainty that the sales will be realized in th e form of cash, the prudence concept dictates that the ? 6,000 should not be included in the profit for the year. iv) Objectivity (neutrality): An accountant must show objectivity in his work. This means he should try to strip his answers of any personal opinion or prejudice and should be as precise and as detailed as the situation warrants. The result of this should be that any number of accountants will give the same answer independently of each other.Objectivity means that accountants must be free from bias. They must adopt a neutral stance when analyzing accounting data. In practice objectivity is difficult. Two accountants faced with the same accounting data may come to different conclusions as to the correct treatment. It was to combat subjectivity that accounting standards were developed. v) Full disclosure It states that information that might affect the judgments of the users of financial information should be presented in the main body of financial statements or in the not es or as supplementary information.Amounts and kinds of information disclosed should be decided based on a tradeoff analysis as a larger amount of information costs more to prepare than to use. Information disclosed should be enough to make a judgment while keeping costs reasonable. QUESTION TWO: Clashing accounting concepts and conventions that might bring about inconsistency in the accounting process Accounting concepts or conventions could clash or there could be inconsistency between them in such a way that users may have more than one definite method of treating items in the financial statements hence causing uncertainty.Examples include: 1. Clash between the accruals/matching concept and the prudence convention The accruals concept requires future income (e. g. in relation to credit sales) to be accrued. On the other hand the prudence concept dictates that caution should be exercised, so that if there is doubt about the subsequent receipt, no accrual should be made. There is a clash in that credit sales should be recognised immediately the sale is made (regardless of payment) under accrual concept while prudence states that incomes be recognized only when receipt is certain.A good example would be the treatment of deferred revenue expenditures that are usually spread over a number of years, during which the organisation is expected to earn additional revenue out of the expenditure. While this treatment is an accepted principle, there may be a counter-treatment, argued by another group, to charge the item as an expense, the entire amount in the year it was spent, on the grounds of conservatism/prudence. In other words, there may be a direct clash between the accruals and conservatism principles. 2.Clash between the historical cost concept and Prudence convention The prudence convention states that where alternative procedures, or alternative valuations, are possible, the one selected should be the one that gives the most cautious presentation of the busin ess’s financial position or results. Therefore it requires that stocks should always be valued at the lowest of cost or net realisable value. Net realisable value is the selling price of the stock minus any costs involved in getting this stock into saleable condition (e. g. repair costs).This means that we can value stock at current market rates, but only if the selling price is lower than the cost. However, if the replacement cost of these stocks is lower than cost or net realisable value then it may seem prudent to use the replacement cost to value these stocks. On the other hand, the historical cost concept implies that all assets acquired, service rendered or received, expenses incurred etc. should be recorded in the books at the price at which it was acquired (its cost price). The cost is distinct from its value and the record does not signify the value.It also holds that cost is the most reliable and verifiable value at which a good is or services should be initially re cognized. Therefore in determining inventory prices, the two principles may clash in application. QUESTION THREE: Solutions to the clashing accounting concepts and conventions William (2001) outlines basic rules that should be observed in applying particular accounting concepts in case of conflict. He states that despite the fact that most of the concepts have been universally accepted, accountants quite often come across situations where two concepts are in onflict and one overrides the application of the other. These are situations where an accountant will find it necessary to apply his professional skill and judgment to come up with the best possible solution. To quote from IAS 1, â€Å"There are many different accounting policies in use even in relation to the same subject: judgment is required in selecting and applying those which, in the circumstances of the enterprise, are best suited to present properly its financial position and the results of its operation. † 1. Sol ution to the clash between accruals and prudence When there is a clash between the two, prudence prevails.Although the accruals concept is universally accepted in trading and manufacturing organizations, there are occasions when the concept of conservatism overrides the application of the accruals concept. A typical example would be the accounts prepared for professional firms of accountants, lawyers and medical practitioners. In these accounts, recognition is generally given to the accruals concept insofar as it relates to expenses. In computing the incomes, however, a rather conservative approach is followed and only those items that are actually realized are accounted for in the accounts.This treatment has been accepted by the accountancy profession on the grounds of conservatism, although it generally defeats the concept of the accruals concept. When the accountant has a choice between two alternative treatments, remember, he should select the one that shows a less encouraging p osition of the financial situation. To follow the principle of conservatism is not easy; and good judgment is necessary to decide the right course of action. There is however, a great deal of difference between being conservative and being over conservative.The rule of conservatism should not be stretched to the point where it might eventually result in distorting the financial results. For example, capital items such as buildings, vehicles, machinery etc, which are capitalized in accordance with Generally Accepted Accounting Principles (GAAPs), must always be capitalized and no deviation should be recommended on the grounds of conservatism. 2. Solution to the clash between historical cost concept and Prudence convention Williamson (2001) states that prudence should prevail over the historical cost concept.This is important in order for financial statements to avoid overstating profits or disguising losses which may lead users to make wrong decisions. An example is that of fixed ass ets which should be valued at their historical cost (because it is objective). However, it is prudent to reduce their values to reflect wear and tear so as not to overstate profits. Also, according to the accruals concept, we should match an expense to when it was incurred. Therefore, fixed assets should appear as their historical cost less any depreciation.Also, the cost of these assets should be ‘spread' over their lifetime in the accounts. REFERENCES 1. Agatha J. , Mengyu and W. ,Askew S. ,(2010). â€Å"The Switch from US GAAP to IFRS†. Proceedings of the Northeast Business & Economics Association 48–54 2. Arens A. , and Loebbecke, J. , â€Å"Auditing, an integrated approach†, 1980 Prentice Hall 3. Carruthers, Bruce G. , & Espeland, Wendy Nelson, Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality, American Journal of Sociology, Vol. 7, No. 1, July 1991, pp. 40-41,44 46 4. Crovitz, L. (2008). â€Å"Closing the Information GAAP†. The Wall Street Journal vol III 5. Oldroyd, David & Dobie, Alisdair: Themes in the history of bookkeeping, The Routledge Companion to Accounting History, London, July 2008 6. Pixley, Francis William: Accountancy—constructive and recording accountancy (Sir Isaac Pitman & Sons, Ltd, London, 2002) 7. Williamson, D. (2001), Accounting Business Spreadsheeting, Prentice Hall, London

Learning Knowledge for Effective Performance Essay

It instills organizations with new ideas and information which is a essential component of learning organization. Peter Senge’s 5 disciplines are essential for a learning organization. Systems Thinking is the crucial discipline which brings all the other factors together into a balanced theory and practice. Figure 1: The 5 Basic disciplines of a learning Figure 2: â€Å"The Fifth Discipline† by Peter organization Senge It allows organizations to see the big picture and differentiate learning patterns within the organization. Using this principles, organizations can work with a system to create solutions to challenging problems in every field as Senge believes that current problems are results of solutions that were applied in the past. Systems thinking involve learning to distinguish general behaviours and create new ones to familiarize with special terms and tools that aid decision making and also allow employees to participate in decision making. It also helps managers to detect repetitive patterns such as common ways of solving problems, present goals and policies that restricts the growth of the organization. It is similar to single-loop learning. Although it takes time to be implemented, it promises a wide range of benefits to companies and improve overall achievement (Delio, 1998). Toyota For example, TPS (Toyota Production System) is an approach created by the founder of Toyota, his son and his engineer that manages logistics, manufacturing and interactions between customer and supplier. TPS was created to bring consistency to the system and enable an effective production process, which eliminates waste. As a result, TPS worked well and has increased production and improved quality of cars. The system has made what Toyota is today: a leader in the automotive manufacturing and production industry.   Personal mastery is the discipline that describes personal growth and learning. Individuals who have a high degree of personal mastery are continuously seeking learning opportunities because they â€Å"are acutely aware of their ignorance, their incompetence and their growth areas† (Senge, 1990). Their self-improvement and self-discovery abilities motivate a learning organization as they are self confident and have great commitment and responsibility towards work. Personal mastery allows one to distinguish what is important and picture the real world more clearly. Therefore, managers must help to create the environment to change by creating an atmosphere that promotes personal mastery within organization where employees should feel comfortable to create personal visions. Managers who are serious in delivering personal growth will send a powerful message to his or her employees. Disney At Disney, successful films are not made only from the ideas of managers. In fact, the top management attends an event called ‘Gong Show’ three times a year where an employee at any level is encouraged to throw ideas and story lines. Employees at Disney feel comfortable to create their personal vision. Managers then respond immediately and reward the employee. The results would be an extraordinary concept of animated film.   Ã¢â‚¬Å"Mental models are deeply held internal images of how the world works, images that limit us to familiar ways of thinking and acting† (Senge, 1990). Mental models are the way how one sees things, learn and react to situations on a daily basis. Generally, people do not do what they say but they behave according to their mental models. Mental models are very important in an organization because it is relates to consequences that occur. It is rather difficult to develop systems thinking if mental model is fixed in past experiences. For example, a manager will find it difficult to handle with interpersonal problem in the organization if he or she has a different perception on an employee. Many organizational learning fail when managers ignore the power of mental models. When managers in an organization develop the ability to work with mental models, it will be necessary for employees to learn new skills and orientations. Both systems thinking and mental models fit together as systems thinking concentrates on how to modify assumptions in order to show causes of problems and mental models look at revealing our hidden assumptions (Taggart. J, 2009). Therefore, it is worthless for managers to engage in systems thinking until their mental models change. Apple Japan Apple introduced the concept of learning organization into their workplace. Apple was advised to embark upon the Five Disciplines which are important to a learning organization. Each employee had a mental model of the way the organization operates. The learning process was more efficient when each employee’s mental model was brought in-line with the rest. Managers at Apple also encouraged Personal Mastery to staffs to place reasonable goals. The essential discipline was Systems Thinking, where it facilitated each employee to make decisions, taking the whole system into account, instead of analyzing specifically on their own problems. All the 5 disciplines were implemented through a program of education and it marked improvement in sales and growth. (Adapted from: Case Studies of the Learning Organization, n. d. ) SHARED VISION Senge’s (1990) shared vision is not an idea but a deeply embedded belief shared by many that provides focus and is a vital part of generative learning. Shared vision is derived from personal vision. Therefore, managers should encourage employees to develop personal vision so that organization’s vision succeeds as both vision are engaged. It provides the focus and energy for learning making it an important component of a learning organization. Shared visions encourage new ideas and concepts within organization while encouraging experimentation. Senge claims that managers should understand that their high position in an organization does not mean that their personal vision is also the organization’s vision. Although visions are mostly visualized by top management, it is not consider a shared vision until others in the organization connect it with their personal vision. General Motors In General Motors (GM), a group of executives decided to implement a new approach in automobile manufacturing as well as a new friendly working environment. Pfeffer and Sutton (2000), discuss creating an organizational learning environment with a shared vision in a case study based on Saturn. The Saturn employees were labeled as risk takers. Later, these staffs sought and embraced a systemic change in Total Quality Management . As a result, Saturn developed into a successful car company due to its shared vision among employees. TEAM LEARNING Team learning is where a group of people work together to create results that they truly desire. Team learning is built on the discipline of personal mastery and shared visions but these alone are not enough to act wholly. Team learning involves two primary ways of communication among members which are dialogue and conflict. These are essential ingredient for learning. Dialogue among members in a team creates a language that helps deal with difficult situations and focus on structural issues. It helps members to learn how to recognize the patterns of interaction which provides an opportunity for members to interact with one another and discover possibilities. Conflicts is a norm in team and teams must know how to deal with disagreements well. A well handled conflict is important in a team as t often leads to effective brainstorming and problem solving matters. According to Senge, 1990 â€Å"the difference between great teams and mediocre teams lies in how they face conflict and deal with the defensiveness that invariably surrounds conflict. † General Electrics An example here is Jack Welch, CEO of General Electrics ( GE) came up with a solution call the Work-Out program to ‘clean upâ€℠¢ GE and improve productivity. It got every employee to get involved in challenges and problems. It has adapted a learning culture among employees which make GE a learning organization. As a result, GE increased its market share from $13 billion in 1981 to $500 billion in 2000. Figure 3: The Work-Out program implemented in 1981 increased Market capitalization by $487 billion.   Figure 4: Kolb’s Cycle of Experiential LearningDEFINITION Concrete experienceConcerned with something that has happened to you or that you have done. Concerned with adopting your new ideas into practice. Reflective ObservationConcerned with reviewing the event or experience in your mind or exploring what you did and how you, and others feel about it. Abstract ConceptualizationConcerned with developing an understanding of what happened by seeking more information and forming new ideas about ways of doing things in future. Active ExperimentationConcerned with trying out the new ideas as a result of the learning from earlier experience. Table1: Brief definitions of Kolb’s cycle of Experiential Learning. Figure 4 and Table 1 adapted from ‘Reflection on and in the workplace by L Allin and C Turnock, 2007. One may begin at any stage, but must follow each other in the sequence: †¢concrete experience (or â€Å"DO†) †¢reflective observation (or â€Å"OBSERVE†) †¢abstract conceptualization (or â€Å"THINK†) active experimentation (or â€Å"PLAN†) Kolb, an American educational theorist explains how experience is translated through reflection into concepts, which is then used as a guide for current and new experimentation. This can be applied in the several forms of informal and formal learning in the organization where learning becomes more effective as employees gets hands on experience on the knowledge they have gained. It also improves performance at workplace and influences the behavior of the learner and as such employees can enhance their performance as they are able to understand and learn better. Learning increases ability to contribute to the organization’s success. It also contributes to a better understanding, increases communication, improves quality of decision making within organization. Organizational learning is essential for innovation ( Laundry, 1992). Innovation is vital for organizations to survive in the competitive world today. Organizations are required to think out of the box and practice continuous learning to remain top in the market. Organizational learning has affected performance of individuals as well as organization as a whole in a positive way. Most firms these days are categorized as learning systems. Organizations such as Fiat, Toyota, Motorola and a few others have improved tremendously after learning took place. They had both formal and informal ways of knowledge acquisition, sharing and implementation of knowledge and skills. Motorolo today is a well developed organization because of its learning processes and culture where employees are fully committed to total quality management. Organizational learning fosters a great opportunity for meeting goals, visions and values. Here, a manager plays a huge role not only as a charismatic leader but also as a motivator that guides employees towards change, shapes the design and structures of the organization and overall creates a positive impact on the organization. The factors that add to effective performance through organizational learning are the skills developed by employees, resources that are available in helping them learn, reward system given by employers, environment and culture. Competitive advantage is a strength a company has over their rival firms. It is an bility to operate at minimum cost, produce quality goods, and invest in Research and Development. Through organizational learning, a firm can develop the necessary knowledge that is vital for effective performance. Intrinsic knowledge can also be applied in organizational learning. Intrinsic knowledge is the knowledge which resides within the organization in terms of work relationships, attitudes and behavior. They are difficult to transfer f rom one to another. Employees in a company which has developed strong intrinsic knowledge will be able to use them in the operations and gain productive performance. It will help them to show a higher proactive personality together with commitment. It becomes a competitive advantage to the firm as it will be hard for competitors to follow. Federal Express’s efforts and approach of investing heavily on team learning among employees has enhanced quality and gained success. It is the ability of the firm to practice continuous learning that made it what it has become today. Although learning is a slow process, once initiated, it feeds on itself and will continue to grow and improve efficiency of employees. Today, more organizations are realizing the importance of learning to be successful in their respective markets. Knowledge within learning organizations must be discovered and shared among employees so they can work in a team to enhance problem solving, decision making and response to challenges. Therefore, managers in organizations should take the necessary steps to shift from organizational learning to a learning organization. Organizations such as Totoya, GE, Disney and others are clear examples of how learning efforts have helped these firms to achieve high performance and compete against competitors in the 21st century.

Iphone vs android Essay

Over the years technology has been improving in terms of entertainment, social media, and communication. Today, smart phones are a verification of this improving technology, but how do we decide which one is the better device? IPhone and Android are the latest most powerful operating systems out on the market. There are advantages and disadvantages to both cellular devices, and the ongoing competition will improve the smartphones for years to come. Affordability and durability are the two key factors when it comes to purchasing a smart phone. Apple and Google have gone head to head on competing for the best products. Most people assume that the expensive device has better durability and can be used longer. Price wise the Android phones ranges anywhere from one hundred to three hundred dollars. In contrast, the iPhone price range is between two hundred to six hundred dollars. Most Android users report that they have dropped their phone multiple times and have not had major damage to their phone. On the other hand, iPhone users state that the front screen display can be shattered easily because of the front screen glass like display, and replacing the screen can often cost more than the phone itself. There is a wider range of android phones as they are made by a variety of manufactures. Android gives you the flexibility to choose from many different colors, sizes or distinct features. The iPhone is restricted and limited to one model each year, but recently Apple has now developed two phones with different colors to match your personal preference. Nonetheless, Apple phones have the same features. While these phones are more powerful and fun than any other smartphone, that fun comes with a price. Any smartphone user will recharge their phone almost  every couple of hours. The cellular data network on each phone drains the battery the most, because we use it daily either for social networks or important information for homework. A smartphone without applications is nothing but an ordinary dull phone. The applications are the hub of the operating system. Both the iPhone and Android have app stores which are the Apple App store for iPhone and the Google Play Store for Android. According to recent news, each store now has about 700,000 apps. Many of the apps are free for both stores, but Apple on the other hand has a reputation for being pricey. It’s also worth noting that Android is still the second option for big companies developing applications. Many applications exist for both devices. It’s logical that the main focus is on releasing and updating the paid applications before the free ones. Each operating system has voice activated assistants which is an app on the android called S-Voice app and the well-known Siri for the iPhone. Siri is admired and amazingly beneficial to all the iPhone users. The voice activated assistants on each device, is an automated assistant that responds when one speaks to it, as if you were speaking to a person. There is also a free Android app called Robin, which pursues to rival Siri. Both of these devices contain a guided navigation system which help in getting around the local area. Apple Maps which is an app for the iPhone and Google Maps for Android. Google Maps allows the use of Google’s Street View; Apple Maps does not. When using the GPS on the iPhone there have been complaints on how the GPS guides them to an unusual location rather than the original destination. The GPS for Android users is accurate and more reliable to use especially when going on road trips. Web Browser on Apple Safari for the iPhone and Google Chrome are both fine choices which work well on a mobile screen and offer touch screen capabilities, zooming in for instance is an example. In comparison the two phones have incredibly fast internet and it is basically like having a computer in your pocket at all times. Adobe Flash is available on the Android, and it aids in website where a user interface is needed and here is where Android has the advantage. A function that many people can’t seem to live without is the ability to text message. Both of these phones contain the ability to text, not just with one’s fingers but by just by talking to the phone’s speaker. This function is beneficial, because instead of a phone call that might take up your time, you can just send a message within  seconds. IPhone and Android phones are currently the latest, in demand phones. Some people wonder what the difference between the two is, or if they are just the same. Technology changes every day and there’s always new and different phones on the market. Ultimately it’s the user’s preference on which device they would like to purchase.

How does work Guide the Development of the Self Essay

In man’s existence today, various concepts exist which if learnt and adhered to, can change the very quality of life itself. This is admirably conveyed by Emerson in his essay on self reliance and also deduced from chapters seven and eleven of Thoreau’s book on Walden. In chapter seven, the author narrates the story of an impoverished farmer who toils on his farm from sunrise to sunset, while in chapter 11, Thoreau dwells on the qualities of the inner person. After reading these essays, one is convinced that the most important attribute in life is that which is gained from knowledge of our true being as intended by the creator. Beginning with Emerson’s work, self trust is shown to be the key to self reliance because man’s true nature is that which is within him. We are all individuals in the eyes of providence, each with our own place which we must learn to accept and respect. It is only when we exercise self trust in the abilities given to us, that we will be able to improve as human beings. The author goes on to say that when we cultivate a respect for ourselves, we reject that which is external and which we spend every waking moment looking for. What is important is not the acquisition of material wealth, but rather, internal spiritual wealth. It is only when we place our faith in GOD, who is the most trustworthy and sits in our heart, that we gain self trust. He then works through our hands and predominates our beings. When you are in conformity, this undercuts your self reliance because it scatters your forces, and the real you cannot be detected. You tend to do things as everybody does. It is therefore important to be your own individual and your uniqueness will be evident. Consistency, on the other hand, enslaves us to our pasts because we are constantly judging our present with 2 tandards from the past. We fear to be contradicted by our peers and are therefore less and less self reliant. Self reliance is evident from the bean field chapter of Thoreau because the farmer was rewarded for his hard work with a harvest of twelve bushels. He did not have the benefit of modern farm implements or labor, yet he loved his work and was rewarded for it. This is a demonstration of self reliance born out of necessity. Instead of discouragement at the prospect of toil, the farmer confronted the ordeal happily and with spiritual calm. Additionally, he gained much more than money. He earned the respect of his neighbors, confidence and experience from his work. John Fields is another impoverished farmer who has a wife and a family to feed. Unfortunately, he is in a situation where survival dictates that he works for a wage as someone’s employee. For this very reason, he cannot be self reliant. Additionally, in order to change his lifestyle, he faces the prospect of being unable to afford the necessities of everyday life, for example, tea, coffee, meat and clothes. He also seems unable to find the time to contemplate his spiritual wellbeing which may help him look at his life afresh. However, the concepts conveyed by Thoreau’s higher laws can prove invaluable to him. One of them is that, â€Å"Man flows to GOD when the channel of purity is open†. This means that Fields must seek GOD who will give him an inner calm. This will enable him to identify that for which he is best suited to do and treat himself with respect. Additionally, he will be able to find that which identifies him as an individual, thereby helping him to excel. The kind of wealth that is described in Emerson’s â€Å"wealth† essay is very foreign to John Field’s understanding. According to Emerson, wealth is the application of mind to nature. This requires that one draws a benefit from the labors of the greatest numbers of men, and also do what his creator intended him to do. Unfortunately, Fields is a laborer who is employed on a wage. He does not even understand the concept of business, let alone begin to fathom how he can employ others. Additionally, he may be in the wrong career and needs to re-evaluate it if he is to enjoy the fruits of a better lifestyle. When Frederick Douglas goes to the north, he discovers that work, unlike in the south, is done with pride and actually creates wealth without the need for slave labor. It also dawns on him that freedom of the mind is the perfect breeding ground for economic progress, which he sees in even former slaves. Additionally, with a free mind comes the possibility of improving the intellect through reading. The common thread running through these readings is that the mind and spirit come first before the body. Nature can only be conquered by the spirit and the best way to enrich the spirit is by accepting that GOD has a purpose for each and every one of us. He has given us individual qualities which we must strive to nurture. We must recognize these qualities and use them according to his will. If we do not see the advantage within our hearts, then we will, as individuals, continue to move in a crowd, and our uniqueness will not help us or humanity. Wealth is first and foremost, that of the heart and spirit.

Grow like Rice Essay Example | Topics and Well Written Essays - 1000 words

Grow like Rice - Essay Example Rice thrives in strong monsoon and continental climate. In approximation, about 26.1% of China falls under the subtropical region where rice grows well. Given the strong Monsoon and continental climate China experiences, it provides the most favorable conditions for the growth of rice (Braddbrook 11). I still remember my earlier experiences with rice. One such was a freezing winter when our small town experienced a snowstorm. Luckily the snowstorm did not stay for long as it subsided after about a week. Everything was all white with the snow providing a thick white blanket. My grandparents decided to take me out to play with the snow and snowballs, and to make a snowman in the paddy field. The sight of the lovely rice plants covered in a coat of snow filled me with awe. The sight was so perplexing to me that I found myself unable to move. Seeing the expression of wonder on my face, my grandmother walked to me and said, â€Å"This is what you eat every day. It is growing rice.† I was surprised and could not imagine any relation between those plants and the rice that I so often enjoyed. My grandmother told me that during winter, the farmers always celebrated the snow. They believed that the white snow was like an angel to the rice. I tried to patting the snow away from the p lants, but she stopped me with a sweet smile and said, â€Å"Rice sleeps beneath the snow. Don’t disturb it.† Deep inside, I still wondered how such plants produced rice. Up to today, I have never understood the origin of all those beliefs. On our way home, my grandfather explained to me the whole process of how farmers harvest paddy and make rice. The whole process was quite complicated for me to understand at the time. However, I remember them saying how rice sleeps beneath snow in winter. I also have not forgotten the experiences I had and the great time I spent with my grandparents in the field. As for many local families, my family’s staple