Tomorrow and Tomorrow and Tomorrow Essay Example | Topics and Well Written Essays - 2500 words

Tomorrow and Tomorrow and Tomorrow - Essay Example The author addresses materialism and vanity thematic issues prevalent in the contemporary society and in the process makes the story relevant that resonates with modern literary readers. To pass his message, Kurt Vonnegut manipulates factors that include the setting and the placement of the story to validate the desired fictional plot. This paper puts into perspective aspects of the themes to understand how the author portrays his message. Through the thematic issues he addresses, he does not only earn respect among his target audience but also provides a sharp criticism of his society. Analysis The story depicts the theme of materialism. In this case, the characters strive to obtain clothes, riches, and revamp technology in order to live longer and in the process get wealth wherever possible. The Gramps face similar problems because the number of descendants outweighs the family resources. Analytically, it is easy to state that Gramps demands the best and the biggest of every share. The numerous children on the other hand strive to impress the old man in order for him to consider them in his will, which he has used all along to blackmail them. He revises the will frequently making it difficult for the children to determine any concrete share of inheritance. The descendants strive to appease the old man since only such an action would earn them favor from the old man who coincidentally is not about to die. He maintains a claim in his wealth owing to his long life. The fact that he is even considering taking the age reversing drugs makes the situation even more precarious since he will need the wealth even more. The author puts into use suspense to heighten the theme of materialism in the short story extensively. Suspense refers to a literary style in which the author reveals relative details in the story leaving the author contemplating other subsequent actions in the story. This leaves the audience always willing they had more detail in the story. Additionally , suspense is a style used to sustain readership in either stories or films. The author manipulates the feature by providing relative amount of detail often leaving the reader to imagine the growth of such actions in the story. The author ends the story in such a state thus leaving the audience imagining the future of the society. The short story ends with the discovery of yet another better drug that will make people younger. The current state of the society is appalling as people struggle for the scarce resources. Various literary analysts have criticized the author’s exposure of materialism, which they hold he claims the society if greedy. However, there are those who laud his efforts to earn respect from his audience. This helps in adding value to the story both in the early society and in the contemporary society as explained in this discourse. Kurt Vonnegut adopts his title tomorrow and tomorrow and tomorrow from William Shakespeare’s tragedy Macbeth. The author uses the adopted line from Shakespeare to create suspense from the title of the story. The setting of the story by Vonnegut is in New York City in 2158 AD. The story revolves around the Schwartz family led by Harold, a one hundred and seventy-two year old man commonly referred to as Gramps. The discovery of medicine dubbed Anti-Gerasone causes panic in the American society including other European

Social Enterprise Essay Example | Topics and Well Written Essays - 2250 words

Social Enterprise - Essay Example According to the essay findings  an economy is known to have three sectors namely; the public sector, the private sector which highly competes with the state owned enterprises and the third sector pertinent to the enterprises are established by individuals voluntarily with the intensions of chasing the community, social and charitable goals. It is prevalent that the three edged sector of an economy tends to impose a restriction on these third sector organizations that happen to infringe the set definition. The co–operative enterprises coming under the purview of social enterprise tend to cross the margin that distinguishes the voluntary and private sectors.This discussion stresses that  the enterprises in form of co–operatives and ‘mutual help’ following the commercial principles were the way to the emergence of ‘Third Sector’ as an innovative term. There is a value related to the social face that encompasses this Third Sector, is the conce rn for the management principles that the modern public and private sector follows and which has contributed to the exclusion of under–privileged and vulnerable individuals, socially. The Training and Enterprise Councils (TECs) of public sector and ICOM, one of the co–operatives enabled Social Enterprise London with the assets and the funding part required for a proper establishment of an enterprise.  An entrepreneurship involving the societal aspects is in general terms defined as â€Å"entrepreneurial activity with an embedded social purpose†.

William Shakespeare’s play Romeo and Juliet Essay Example for Free

William Shakespeare’s play Romeo and Juliet Essay â€Å"Shall I compare thee to a summer’s day?† Many people all over the world have heard the expression from William Shakespeare’s play, Romeo and Juliet. The tragedy is about two star crossed lovers who are born into two different families, Juliet’s family, the Capulets and Romeo’s family, the Montague’s. The families have an ancient grudge. Due to this family feud, many drastic events take place involving deceit, sorrow, sacrifice and pain, resulting in the death of both Romeo and Juliet, along with their love. Romeo and Juliet is full of situations and themes to which students are able to relate: friendship, betrayal, feuds, conflict with parents, young love, religion, adolescent hormones, a lack of perspective, desperation, and conflicting loyalties. In this essay, several themes will be connected to Romeo and Juliet using music and cinema, as well as to my life and situations that occur in life or the world. One of the reoccurring themes in Romeo and Juliet is love. The concept of love is portrayed in various parts of the play. The play actually focuses on love and emphasizes how two, innocent lovers endure the pain they go through, what they have to sacrifice and what they do just to keep themselves together. Many references to Romeo and Juliet appear in movies, pop songs, and art frequently. Taylor Swift refers to the play in her hit song, â€Å"Love Story.† Love Story is a song based upon love, and, reflects a story about how two people meet and fall deeply in love which also connects to the theme of family feuding. However, the girl’s father does not approve of the boy and warns the two to keep a steady distance from each other. In Swifts, Love Story†, line (8) says: Little did I know that you were Romeo, you were throwing pebbles and my daddy said, Stay away from Juliet. Based on this piece of the song, it can be related to Juliet’s father warning Romeo to stay away from his daughter and that he would never allow her to be with him. Another example is in lyrics, 17-20 which say: â€Å"So I sneak out to the garden to see you, we keep quiet cause were dead if they knew, so close your eyes, escape this town for a little while.† This line of the song can be strongly connected with the family feud between the Capulets and Montagues. Romeo and Juliet loved each other dearly; however, their families had powerful hate for one another. Therefore, in order for the two lovers  to keep contact with each other, they had to sneak out and meet in various places due to their undeniable love, such as the balcony, Friar Lawrence’s cell, etc. However, the ending of the song is different with the ending of the play. The ending of the song is one that is full of happiness as opposed to the ending of the play which has a melancholy ending. James Cameron’s hit movie, Titanic, also depicts the love two people have for each other and what they endure through it. Titanic is a 1997 American, epic, romantic, disastrous film between a man and woman of different social classes who fall in love aboard the ship during its ill-fated maiden voyage. Even though, Titanic is an example of melodrama and Romeo and Juliet is an example of dramatic literature, they both connect with one another according to the theme of love, separation, and family feuds. In Titanic, Rose and Jack withstand forbidden/ socially unacceptable love. Rose Bukater is a wealthy woman and comes from a family with upper class. On the other hand, Jack Dawson is a poor man, who does not have much to offer to Rose. Therefore, Rose’s mother forbids her to stop meeting Jack since they will never be of the same kind. This can be connected to the family feud of Romeo and Juliet, between the Montagues and Capulets as they also forbid their son and daughter from seeing each other. Another example of how Titanic ties in with the theme of parting in Romeo and Juliet is when both couples (Rose and Jack and Romeo and Juliet) are separated from one another for a short period of time by fate or circumstances beyond their control. In Romeo and Juliet, Romeo is banished from Verona for killing Tybalt, Juliet’s cousin. On the other hand, in Titanic, Jack is framed as a thief for â€Å"stealing† a diamond necklace that belonged to Rose. Due to this, Jack was forbidden to meet with Rose again, who were separated for some time. Shakespeare’s, Romeo and Juliet, relates to the youth of today or situations that occur presently, in various ways. People fall in love every day; there are still families who dislike and argue over each other. Many people are forbidden from seeing someone that is close to them but they still meet secretly, just like Romeo and Juliet. Students whose families are not feuding with another can relate to having a conflict of interests with  their parents. For example, my best friend’s aunt, Tami, fell deeply in love with a man her father strongly disapproved of. Therefore, she secretly meets him without anyone knowing. In conclusion, the play, Romeo and Juliet demonstrates many themes that are portrayed throughout different parts of the play. Connections with different pieces of work that deal with music and films can be made clearly. Love Story, by Taylor Swift and James Cameron’s, Titanic, beautifully describes examples about the storyline of Romeo and Juliet. Romeo and Juliet can be correlated with situations in life today, that teach us about love and mistakes some people make.

Government Expenditure Causes the Revenue Generation by Government Taxation

Government Expenditure Causes the Revenue Generation by Government Taxation INTRODUCTION 1.1 Overview The relationship between government revenue and expenditure is a very important topic and has been an essential issue for many economists and policy makers as it represents budget deficit, government expenditure Plans and taxation structure of a country. Since the main objective of every government is to improve economic growth with low debt levels, better education system, development of infrastructure and job opportunities better fiscal policy is needed to achieve these goals. From a short term perspective fiscal policy is said to be expansionary when government expenditures exceeds the total revenue and the resulting deficit is then financed by the government, However if these expenditures contributes in economic growth then there is a long term relationship exist between government expenditure and economic growth. In addition different studies indicate that the determination of Economic growth is depended on tax levels. Whereas many believe that the most significant factor that c ontributes in economic growth is tax level as the collection for development purposes of most developed and developing countries depend on tax revenue. 1.2 Research Problem In Pakistan the level of budget deficits have consistently increasing from 2005 which is then financed by the government through external and domestic borrowing resulting in a higher debt levels due to high interest cost associated with it and leads to more future tax expectations. Thus the financing by the government for the compensation of deficit is an important variable, several studies have put light on the outcome of fiscal deficit but very few have tried to find the reasons and causes of these deficits which is why the nexus between government revenue and expenditure is still an unsolved issue. Therefore the main purpose of this research is to study the causal relationship between government revenue and expenditure. 1.3 Hypotheses : Tax Revenue causes Government Expenditure. : Government Expenditure causes Tax Revenue. : Tax Revenue and Government Expenditure Bilaterally cause to each other. 1.4 Outline of the Study The research studies the causal relationship between government expenditure and tax revenue to see the reasons for the consistent budget deficits in Pakistan from many years. In addition time series analyses have been done to forecast the trend of government expenditure and revenue based on the leading variable. CHAPTER 2: LITERATURE REVIEW Loganathan, Nanthakumar, Taha, and Roshaiza. (2007) have found a stable relationship between spending and revenue. Furthermore there is a long-term impact exist expenditures that enter as input into the production function and those that enter as inputs in investment technologies. Koch, Schoeman and Tonder (2005) found that there is an association between burden of taxes and economic growth according to the findings based on the data of 1960-2002 if tax burden decreases economic growth increases significantly. Friedman (1982) explains expenditure of the government depends on total revenue because as taxes increases expenditure increases by which deficit remains at the same level, he believes that the level of fiscal deficit cannot be reduced by increasing taxes. Buchanan and Wagner (1977) on the other hand have presented an alternative hypothesis that increase in taxes does not lead towards low expenditures because taxes creates higher price of goods for the public due to high interest cost associated with it Buchanan and Wagner suggest that in order to restore deficit government should limit its financing ability. Sobhee and Sanjeev (2004) tested the causality from tax to expenditure and from expenditure to taxes by using the data of public finance and founded that in a small economy government first accommodate the necessary funds then use them for public expenditure, therefore to avoid the situation of fiscal deficit the government must carefully monitor and control its spending programs. Fasano and Wang (2002) in a research on GCC countries founded that the primary Source of revenue is oil and due to the economic fluctuations medium-term expenditure strategy should be adopted according to which expenditure should not exceed the non-oil revenue so that in recessions to compensate expenditures oil revenues can be injected by short-term accommodations. Second hypothesis where causality runs from expenditure to revenue the government first spend and then to accommodate the required level of expenditure adjusts tax policy. Peacock and Wiseman (1979) Argues that due to economic crises government expenditure increases and they also remain at the same level when the crises is over. In their view government expenditure in driven by strong economic crises which is able to change public perception about the size of the government. Gounder, Narayan, Prasad (2007) find compatibility with the second hypothesis that the increase in taxes for the accommodation of government spending affects on the capital investment by investors due to the fear of paying higher taxes in future. The third hypothesis is fiscal synchronization according to which expenditure and revenue decisions are independent and bilaterally cause to each other. Reflecting the traditional theories for the demand for public goods. Meltzer and Richard (1981), according to him the demand of public expenditures and taxes need to compensate these expenditures are compared with many alternative spending programs for cost benefit analysis, therefore the practical implication of this hypothesis is bidirectional causality. Narayan and Narayan (2006) suggest three reasons regarding the importance of nexus between government revenue and expenditure first if proper implementation on policies is taken into consideration regarding government revenue fiscal deficit can be avoided, second if causality runs from expenditure to revenue outflow increases due to the fear that government will spend first and pay for it later by increasing taxes. Third in case of bidirectional causality expenditure can rise faster than revenue which can create huge budget deficits because revenue and expenditure decisions are independent of each other. Baharumshah and Lau (2007) Find two sets of different results where the fiscal policy of Korea, Singapore and Thailand is driven by expenditures where the government finances revenue for the planned expenditures according to the limit of the balanced budget which facilitate the long term sustainable budget position. However the taxation system should be implemented by taking care of the overall smooth fiscal policy. Whereas in case of Malaysia and Philippines expenditures and revenues are independent of each other and the level of government expenditures and revenues is determined through fiscal policy based on marginal cost and revenue. Furthermore the findings indicate that in order to achieve long-term economic growth fiscal consolidation is necessary to reduce deficits and debt levels which lead a country to fulfill expenditure priorities better and provide funds to more productive sectors. Griffin and McKinley (1992) believes that the expenditure policies of the government should be directed towards long-term future growth and for the well being of the people, Therefore activities that contribute more on socio economic development should be increased instead of using resources and funds to military defense projects. King and Rebelo (1990) taxation has a very important role in the long run growth process of a country where growth is not affected by indirect taxation, however direct taxation is harmful for growth. Roshaiza, Taha, Nanthakumar and Loganathan (2008) found in an analysis of Malaysia that the major part of taxes is direct taxes and reducing direct and indirect taxes will lead to reduce in government expenditures, In addition non-tax revenue does not contribute much in economys growth. Hondroyiannis and Papapetrou (1996) find unidirectional causality running from government expenditure to revenues in Greece where the reason of fiscal deficit from a long period of time was government spending decisions. The government spending to GDP is very high in Greece which results an operating inefficiency for the economy. Furthermore the results indicated that reducing fiscal deficit without reducing the government expenditure will leads to failure. Ahiakpor and Amirkhalkhali (1989) Based on the analysis of Canada found that to show the relevant results of fiscal policy government increase taxes which is a temporary and incomplete act in order to fully take control over fiscal deficit the government must reduce or limit its expenditures instead of finding ways to increase tax revenue burden on public. Baghestani and McNown (2004) in a study of Egypt and Jordan claim that to promote domestic savings and private investment it is necessary to eliminate budget deficit for both the counties. Baghestani supported the causality from tax revenue to expenditure in case of Egypt and bi-lateral causality in case Jordan. Furthermore promoted the process of privatization because it facilitate high domestic saving and investment and at the same time helps to reduce fiscal deficit. Neyapti (2008) studied the influence of fiscal decentralization on government revenue and expenditure and indicated that decentralization improves quality of governance which leads to decrease in budget deficit and stable economic condition. However the efficiency of fiscal decentralization increases in case of large population. Keho (2010) Study the data fo 1660 to 2005 to analyses the causal relationship between government expenditure and tax revenue to see which expenditure and revenue items plays a part in the reduction of budget deficit and found that GDP has significant effect on government expenditure. Furthermore the findings of granger causality test indicate unidirectional causality from government revenue to expenditure based on the findings Keho et al. concluded that the implementation for the elimination of fiscal deficit should not me made by just increasing revenues. Thus without spending cuts the results will not be beneficial. In other words tax system should be made with proper spending control system. Brennan and Buchanan (1980) suggest that in order to reduce fiscal deficit constitutional limits should be imposed on post-constitutional governments, so that revenue collection by latter governments can be reduced otherwise the level of goods demand by public to be financed will be minimum whereas revenue collection will be higher. Baffes and Anwar (1990) conducted the research for the countries Argentina, Brazil, Chile, Mexico, and Pakistan to determine the behavior of government towards revenue and expenditures for the alignment of fiscal deficit. The results found to be positive for Mexico, Brazil and Pakistan while the similar findings havent been found for Argentina and Chile. For Brazil, Mexico and Pakistan causality runs in both ways in other words bidirectional causality where decisions for the government spending and revenue are taken simultaneously. However in case of Argentina and Chile causality runs from expenditure to revenue. The results indicates that to control budget deficit the government should increase revenue collection and restrain expenditure whereas public expenditures should be reduced in Argentina and Chile. Stoian (2008) founded in case of Romania by applying Johansen cointegration and Error Correction model that the long run relationship between government revenue and expenditure do not affect major fiscal imbalances. CHAPTER 3: RESEARCH METHODS 3.1 Method of Data Collection Data of the two variables Government Expenditure and Total Revenue is taken from secondary sources with the help of multiple sources which includes (Ministry of Finance), (State bank of Pakistan) and (Hand book of Statistics on Pakistan Economy). 3.2 Sample Size Sample of 31 observations have been used by using the data of public finance from the year 1979-2010. Where the variable (Total Tax Revenue) has been created by adding indirect-tax, direct-tax, Non-tax revenue and surcharges and (Total Expenditure) has been calculated by adding Development and Non-Development Expenditures. 3.3 Research Model Granger model is used to study the causality where TR is the total revenue and TE is total government expenditure. The above two equation represents the hypothesis where the causality running from total expenditure to revenue in equation one and from revenue to expenditure in equation two. Therefore incase of rejection of any hypothesis we conclude unidirectional causality between government expenditure to revenue. However, if both the hypothesis is rejected we concluded bidirectional causality in other words fiscal synchronization exists between government revenue and expenditure. 3.4 Statistical Technique In this research granger causality test by granger (1969) has been applied to study the causal relationship by comparing one time series with another (Government Expenditure with Government revenue) where one variable becomes the cause of the other variable to predict it significantly. In addition cross-correlation has been applied to assess the correlation between both time series variables. CHAPTER 4: RESULTS 4.1 Findings and Interpretation of the results Table 4.1 Pairwise Granger Causality Tests Date: 01/27/11 Time: 17:32 Sample: 1 32 Lags: 2   Null Hypothesis: Obs F-Statistic Prob.     TOTAL_EX does not Granger Cause TOTAL_RE   30   0.84135 0.4430   TOTAL_RE does not Granger Cause TOTAL_EX   14.2132 8.E-05 With the help of the summary given in the table above we find that there is a unidirectional causality exist between total government expenditure and total revenue, as the value of F-Statistic is 3.5 we will reject the null hypothesis (TOTAL_RE does not Granger Cause TOTAL_EX). Table 4.1.2 Cross Correlations Series Pair:Total_Revenue with Total_Expenditure Lag Cross Correlation Std. Errora -16 -.177 .250 -15 -.143 .243 -14 -.099 .236 -13 -.056 .229 -12 -.010 .224 -11 .044 .218 -10 .097 .213 -9 .137 .209 -8 .210 .204 -7 .255 .200 -6 .299 .196 -5 .353 .192 -4 .427 .189 -3 .513 .186 -2 .663 .183 -1 .796 .180 0 .994 .177 1 .810 .180 2 .662 .183 3 .544 .186 4 .431 .189 5 .344 .192 6 .271 .196 7 .208 .200 8 .148 .204 9 .094 .209 10 .053 .213 11 .005 .218 12 -.036 .224 13 -.078 .229 14 -.114 .236 15 -.153 .243 16 -.188 .250 a. Based on the assumption that the series are not cross correlated and that one of the series is white noise. Figure 4.1.1 The results of cross-correlation indicates total revenue as a leading time series variabler with a strong correlation of .994 with government expenditures at lag 0, furthermore correlation a possitive correlation has been found from lag 1 to lag 11, However the correlation is dexreasing and from 12 to 16 lags correlation in negative predicting that with the increase in total revenue, total government expenditure will decrease in furture. CHAPTER 5: DISCUSSIONS, CONCLUSION, IMPLICATIONS AND FUTURE RESEARCH 5.1 Conclusion In this paper we have studied the causal link between total government expenditure and total revenue in Pakistan using granger causality test and the supportive cross correlation from 1979-2010. Our result from granger causality supports the hypothesis that tax revenue causes government expenditure in Pakistan. In addition cross correlation results have indicated long-term results that with the increase in revenue expenditures will increase. Therefore the major conclusion drawn from this research is that in order to eliminate the problem of fiscal deficit and sustainable economic growth government should focus on the policies which facilitate increasing revenue. 5.2 Discussion Various studies have analyzed the causal relationship between government expenditure and revenue. Some supported with unidirectional causality occurring from revenue to spending and from expenditure to revenue whereas some have indicated the result of bidirectional causality. However, both the variables have significant impact on budget deficit and economic growth. Fiscal deficit in Pakistan is a major issue as the findings of cross correlation indicates that the revenue and expenditures are correlated which means that as revenue increase expenditure increases and deficit remains at the same level and to compensate this deficit government increases its debt financing from domestic and foreign sources which leads towards inflation and high interest rates. 5.3 Implications and Recommendations The model and analysis of this study is very useful for economists and policy makers as it helps in enhancing revenue by tax reform programs. In addition for the determination of optimal spending expenditure reform assessment can be done through cost and benefit analysis which will help in setting objectives for tax collections and better utilization of taxes. 5.4 Future Research Future research possibilities could be as follows first variables like national income and debt financing could be included in the research. Second data sets of multiple countries would be interesting to analyze the causal relationship using the same model in comparison with this research. REFERENCES Ahiakpor, J.C.W., Amirkhalkhali S. (1989). On the Difficulty of Eliminating Deficits with Higher Taxes: Some Canadian Evidence. Southern Economic Journal, 56, pp. 24-31. Buchanan, J. M., Wagner, R. E. (1977). Democracy in Deficit, New York: Academic Press. Baharumshah, A. Z., Lau, E. (2007). Regime Changes And The Sustainability Of Fiscal Imbalance In East Asian Countries. Elsevier, 24 (6), pp. 878-894 Baghestani H., McNown R. (1994). Do Revenues or Expenditures Respond to Budgetary Disequilibria?. Southern Economic Journal, 61, pp. 311-322. Brennan, G., Buchanan, J. (1980). The Power to Tax: Analytical Foundations of the Fiscal Constitution. Cambridge University Press, Cambridge, Massachusetts. Baffes, J., Shah, A. (1990). Taxing choices in deficit reduction. Policy Research Working Paper Series 556, The World Bank. Friedman, M. (1982). Personal interview, The Washington Times, June, p. 2 Fasano, U., Wang, Q. (2002). Testing the Relationship between Government Spending and Revenue: Evidence from GCC Countries. IMF Working Papers 02/201. (Washington: International Monetary Fund) Gounder, N., Narayan, P. K., Prasad, A. (2007). An empirical investigation of the relationship between government revenue and expenditure: The case of the Fiji Islands. International Journal of Social Economics. 34, pp. 147-158. Griffin, K., McKinley, T. (1992). Towards a Human Development Strategy. Occasional Paper 6, December. Hondroyiannis, G., Papapetrou, E. (1996). An Examination of the Causal Relationship between Government Spending and Revenue: A Cointegration analysis. Public Choice, 89 pp. 363-374. Koch, S. F., Schoeman, N. J., Tonder, J. J. V. (2005). ECONOMIC GROWTH AND THE STRUCTURE OF TAXES IN SOUTH AFRICA: 1960-2002. South African Journal of Economics, 73, 190-210. King, R. G., Rebelo, S. (1990). Public Policy and Economic Growth: Developing Neoclassical Implications. Journal of Political Economy, 98, pp. 126-150. Keho, Y., (2010). Budget balance through revenue or spending adjustments? An econometric analysis of the Ivorian budgetary process, 1960 2005. Journal of Economics and International Finance, 2(1), pp.001-011. Loganathan, Nanthakumar, Taha, Roshaiza. (2007). Have Taxes Led Government Expenditure in Malaysia? Journal of International Management Studies. Meltzer, A.H, Richard, S. F. (1981). A rational theory of the size of the government. Journal of Political Economy, 89, pp. 914-927. Narayan, P.K., Narayan, S. (2006). Government revenue and government expenditure nexus: evidence from developing countries. Applied Economics, 38, pp. 285-291. Neyapti, B., (2010). Fiscal decentralization and deficits: International evidence. European Journal of Political Economy, 26(2), pp. 155-166. Peacock, S.M., Wiseman, J. (1979). Approaches to the Analysis of Government Expenditures Growth. Public Finance Quarterly, 7, pp. 3-23. Roshaiza, Taha, Nanthakumar, Loganathan, (2008). Causality between tax revenue and government spending in Malaysia. The International Journal of Business and Finance, 2 pp. 63-73. SOBHEE, Sanjeev K. (2004). The causality between tax and spend of the public sector in maturities: A VECM approach. International Journal of Applied Econometrics and Quantitative Studies, 1-3, pp.115-130 Stoian, A., (2008). Analyzing Causality between Romanias Public Budget Expenditures and Revenues. Theoretical and Applied Economics. 11, No.528.

Commentary on Scene Eleven focusing on the speech in A Streetcar Named

Commentary on Scene Eleven focusing on the speech in A Streetcar Named Desire Scene Eleven in A Streetcar Named Desire is significant. It depicts a concrete and clear view of Blanche's character and highlights the theme of death. It, most importantly, generates the audience's sympathy which is not depicted in the first part of the play. The scene takes place a few weeks after the rape. This is indicated in the stage directions: "it is some weeks later." The setting which is presented in the scene is typical in that poker is being played by Stanley and his friends while Stella and Eunice are conversing; however, the mood is tense and discreet. It is also highlighted that Blanche is taken into a mental asylum. This would be evident through her mental disorder from the rape. It is also depicted that all the characters have knowledge of her mental asylum although Blanche is not aware of it and that she presumes she is going on holiday. The speech depicts the theme of death which is also present in Blanche's speech in Scene One "I, I, I took the blows in my face and ..

Compare and Contrast the Way in which Emerson and Thoreau Represents Am

In the year of 1600’s, the United States of America was being colonized by European countries especially by England. However, on 4th of July 1776 America became independent after having drafted the â€Å"Declaration of Independence† initiated by Thomas Jefferson [History of the United States, Wikipedia]. The difference between these two time periods shows that Britain had colonized America for about 176 years which ultimately led to prosper European cultures. Although America became an independent nation, European culture was still playing its role. Therefore, American writers namely Ralph Waldo Emerson and Henry David Thoreau presented an idea about American Identity. Emerson in The American Scholar and Thoreau in Walden represents the idea of American identity by connecting this concept with nature and individuality but Emerson presents his idea about American identity in an intelligent manner whereas Thoreau uses mockery to present his idea. Emerson and Thoreau both have connected the idea of nature and individuality to represent an American identity. Well, the reason for both the writers having mentioned nature and individuality is because they are transcendentalist. Ralph Waldo Emerson had first published nonfiction essay called Nature which brought about a movement called the transcendentalism (1840-1855) [American Literature Timeline, Honors American Literature]. This movement influenced many writers amongst who is Henry David Thoreau. Transcendentalism believed in individuality being affected by politics and religion. They also believed in God being reflected in nature. Emerson and Thoreau both being transcendentalist had different ways of presenting their ideas about transcendentalism with regard to American identity. Emer... ...divert away from such cultures and to create a unique American identity, two transcendentalists Ralph Waldo Emerson in his literary work The American Scholar and Henry David Thoreau in Walden represents the idea of an American identity with relation to nature and individuality. However, Emerson presents his concept on American identity intelligently whereas Thoreau uses mockery to present his idea on American identity. Works Cited American literature timeline. Retrieved from msbowman1290.com/Honors_Amlit-Timeline .pdf History of United States. Retrieved from en.wikipedia.org/wiki/History_of_the-United_States Emerson, R.W. (1907). The American Scholar. In Essays. Retrieved from http://www. gutenberg.org/files/16643/16643-h/16643-h.htm Thoreau, H.D. (1854). Walden; or life in the woods. Retrieved from http://www. gutenberg.org/files/205/205-h/205-h.htm

Stewardship versus economic decision making in financial reporting

The chief aim of fiscal describing harmonizing to the IASB ‘s Preparation and Presentation of Financial Statements model is that of supplying equal information in order to enable stockholders conduct economic determination devising. This brought the argument of whether such nonsubjective neglected the importance of the stewardship appraisal by the portion of stockholders. In the past decennary the IASB and the US FASB have been working on a joint undertaking to develop a conceptual model for fiscal coverage. Such conceptual model has the purpose of supplying a base for developing harmonised, future accounting criterions. In 2008, the boards issued an exposure bill of exchange of chapter one and chapter two of the conceptual model with chapter one undertaking the aims of fiscal coverage. In the exposure bill of exchange that has been recently issued by the two boards, it was identified that the aim of fiscal coverage should be that of catering for all the determinations that capital suppliers make, including both resource allotment determinations and determinations made to protect and heighten their investings. Furthermore on the implicit in exposure bill of exchange there is stated that information about the stewardship of an entity ‘s economic resources should be considered as decision-useful information. Hence in this exposure bill of exchange it is clear that the two boards shifted from concentrating entirely on economic determination devising, to general determination devising, with stewardship being included in such broader definition. Although this move to concentrate on determination utility instead than specifically on economic determination devising was a agency to subsume stewardship in the aim of fiscal coverage, writers such as Andrew Lennard still argue that stewardship and determination utility should be recognised as separate aims. â€Å" aˆÂ ¦stewardship contributes an of import dimension to fiscal coverage, which should be reflected by specific recognition in the aims of fiscal coverage. †[ 1 ] The bulk of the writers who recognise stewardship as a cardinal aim in fiscal coverage, claim that fiscal statements should be prepared on the footing of historical costs. This ensures in supplying a clear, factual history of the minutess that occurred during the twelvemonth, over which direction had control. Therefore describing on historical cost can help stockholders carry through their stewardship appraisal needs better. On the other manus, to provide for determination utility, particularly in footings of economic determination devising, fiscal coverage would concentrate more on the prediction of future hard currency flows. Such nonsubjective would be better addressed with ratings based on market values, since they better reflect the timing and certainty of future hard currency flows. This is taking to the outgrowth of rating techniques based on current values, such as just value. The acceptance of just value accounting is possibly one of the most controversial issues presently being faced by the accounting universe. Both the IASB and the FASB have been working on this issue for the last twosome old ages. Traditionally, fiscal coverage has been entirely based on historical costs. The usage of current values, such as just value describing emerged comparatively late, and was applied to merely few selected countries. One of the countries where just value had a major influence is in the measuring of fiscal instrument. Using market values to value Financial Instruments is deemed to be dependable ( since markets in these points are good developed ) and relevant ( because the values of fiscal instruments can see big fluctuations, therefore historical costs depicts a really hapless image of current values ) . However, in the nearby hereafter, just value measuring is likely to be extended to other assets, particularly in the visible radiation of the fact of the IASB â €˜s and FASB ‘s sensed penchant for just value measuring even where the market is non good developed. â€Å" The IASB believes that just value measuring under IFRS and GAAP is already consistent. Besides, the IASB and the FASB will go on to work together to guarantee that using just value in an inactive market is accounted for systematically †[ 2 ]. Stockholders are divided into two chief classs, private persons and institutional investors. Although fiscal coverage is designed to provide for the demands of capital suppliers, due to the deficiency of cognition normally found within private single stockholders, concerns may originate on what such private single stockholders identify as utile, for their determination devising.Need for the survey:The thesis ‘s aim is to place the current demands of private stockholders and what they identify as valuable information. The thesis shall so analyze to what extent the focal point on determination utility and the prediction of future hard currency flows through just value accounting shall help private stockholders in fulfilling their demands.Research Methodology:The thesis will be of a qualitative nature. The purpose of such thesis is to accomplish a deep apprehension of what local private stockholders value as relevant information, and to analyze whether the emerging construct of ju st value accounting will be supplying such users more relevant accounting information. The purpose of the survey is non to generalize findings but to obtain rich description on the implicit in subject. The method being taken into consideration to garner the qualitative information is the puting up of focal point groups with stockholders. Such group treatments provide direct grounds about similarities and differences in participant ‘s sentiments. Participants are non required to reply for every inquiry enabling them to construct on one another ‘s response. Furthermore by moving as a moderator I can guarantee that the treatment is ever kept on path. Finally, focal point groups can be considered as a more plausible solution when compared to open ended interviews with stockholders. The response rate of stockholders to a focal point group is likely to be greater when compared to a personal 1 on one interview, since the latter is perceived as more intrusive. The chief restriction of utilizing focal point groups is possibly the hazard that people influence each other ‘s response. As a consequence the response of participants can be different than the response that would hold been generated from a private 1 on one interview. Stockholders from two local, listed companies are traveling to be considered as the population sample. These companies are Bank of Valletta and HSBC. The pick fell on these companies because due to the recent alterations to IAS 39 and IFRS 7, just value measuring had a considerable impact on the banking sector. Thereby, due to such fact stockholders can be even more concerned and affected with the underlying capable. Two focal point groups are planned to be set, one with BOV stockholders and one with HSBC stockholders, with groups runing from six to twelve members. Shareholder ‘s list can be obtained from the Malta Financial Services Authority. The sampled population will except abroad stockholders, trusts and investing companies, therefore concentrating entirely on local private stockholders.Chapters Overview:Introduction: foremost the stewardship versus economic determination doing argument will be tackled, and its effects on rating on fiscal coverage will be analysed. The th esis shall so concentrate on the outgrowth of just value as a measuring tool and its prospective use. Furthermore just value will be compared and contrasted with cost based rating. The debut will besides include an scrutiny of how each rating method caters for the single private stockholders ‘ demands. Literature Reappraisal: literature reappraisal can be focused on two facets being the argument of just value measuring versus cost based measuring, and the argument of whether private stockholders use accounting information largely for economic determination devising, or to measure stewardship. Research Methodology: in this subdivision I shall depict how the consequences were achieved, explicating how the information was collected and analyzed. This subdivision shall incorporate the failings and restrictions of the research methods and methodological analysis used. In the methodological analysis I shall besides include any jobs that I anticipated and explicate any stairss taken to forestall them from happening. Findingss: this portion of thesis will incorporate the information generated from the focal point groups. Consequences will be presented, interpreted and discussed in this subdivision. Decision: this portion will supply reasoning penetrations on the research, and recommendations of other research inquiries that can be tackled to better the research on the country. The chief inquiries to be answered in this subdivision are: what has been learnt from the consequences? How can this cognition be used? What are the defects of the research?Bibliography:Accounting Standards Board. ( 2007 ) . STEWARDSHIP/ACCOUNTABILITY AS AN OBJECTIVE OF FINANCIAL REPORTING A remark on the IASB/FASB Conceptual Framework Project. United kingdom: Accounting Standards Board. Alan Bryman, E. B. ( 2007 ) . Business Research Methods 2 edition. United kingdom: Oxford University Press. Doron Nissim, S. P. ( 2007 ) . ON THE APPLICATION OF FAIR VALUE ACCOUNTING. Columbia Univesity. Lennard, A. ( 2008 ) . Stewardship and the aims of fiscal statements: a remark on IASB ‘s Preliminary Positions on an improved Conceptual Framework for Financial Reporting. United kingdom: Accounting Standards Board. RONEN, J. ( 2008 ) . To Fair Value or Not to Fair Value: A Broader Perspective. Accounting Foundation, Sydney. Schmidt, S. ( 2004 ) . Fair Value Accounting. United states: Governors of Federal Reserve System. Whittington, G. ( 2008 ) . Fair Value and the IASB/FASB Conceptual Framework Project: An Alternate View. Cambridge: University of Cambridge.