Timothy Nethery Essays - Philosophy, Metaphysics, Ontology

Timothy Nethery 12/12/2016 Intro into Philosophy Final Paper Pick one (1) of the following and explain and illustrate its metaphysical significance: determinism, pragmatism, or existentialism. Metaphysics is the foundation of philosophy. Without an explanation or an interpretation of the world around you and me, we would be helpless to deal with reality without it. Metaphysics is the branch of philosophy responsible for the study of existence. Metaphysics is the foundation of a whole world view. Metaphysics answers the question of "what is?". Metaphysics encompasses everything that has ever existed and will ever exist, as well as nature of existence itself. Metaphysics says whether the world is real or merely an illusion. It is a fundamental view of the world around us. The degree to which our metaphysical worldview is correct is the degree to which we can comprehend the world, and act accordingly. Without this firm foundation, all knowledge becomes suspect. Any flaw in our view of reality will make it more difficult to live. Metaphysics is a branch of philosophy that investigates the fundamental nature of being and the world that surrounds it. This branch attempts to answer two questions; "what is there?" and "what is it like?" many topics such as existence, objects, and their properties, space and time, cause and effect, and possibility of an event occurring or not occurring. There are two main but very wide and broad conceptions and topics about what "world" is being studied by metaphysics. The strong classical view assumes that the objects studied by metaphysics exist independently of any observer, so that the subject is the most fundamental of all sciences. The weaker, more modern view assumes that the objects studied by metaphysics exist inside the mind of an observer, so the subject becomes a form of introspection and conceptual analysis. Some philosophers, notably Kant, discuss both "worlds" and what can be inferred about each one. In most of what follows, I will speak simply of determinism, ra ther than of causal determinism. This follows recent philosophical practice of sharply distinguishing views and theories of what causation is from any conclusions about the success or failure of. For the most part this disengagement of the two concepts is appropriate. But as we will see later, the notion of cause/effect is not so easily disengaged from much of what matters to us about determinism. Traditionally determinism has been given various, usually imprecise definitions. This is only problematic if one is investigating determinism in a specific, well-defined theoretical context; but it is important to avoid certain major errors of definition. Pragmatism as a philosophical tradition that began in the United States around 1870. Charles Sanders Peirce, generally considered to be its founder, later described it in his pragmatic maxim: Consider the practical effects of the objects of your conception. Then, your conception of those effects is the whole of your conception of the object. Pragmatism rejects the idea that the function of thought is to describe, represent, or mirror reality. Instead, pragmatists consider thought an instrument or tool for prediction, problem solving and action. Pragmatists contend that most philosophical topicssuch as the nature of knowledge, language, concepts, meaning, belief, and scienceare all best viewed in terms of their practical uses and successes. The philosophy of pragmatism "emphasizes the practical application of ideas by acting on them to actually test them in human experiences". Pragmatism focuses on a "changing universe rather than an unchanging one as the Idealists, Realists and Thomists had claimed". Existentialism liberates us from the customs of the past founded on myth. The quote from Jean Paul Sartre, Existence precedes and commands Essence, be the foundation for existentialism. I exist as a human. In my existence, I define myself and the world around me. The ongoing popularity of existentialism philosophy (particularly amongst young people) can be understood by its freedom of personal choice and individualism within a postmodern context of no absolute truth. The problem with Existentialism is that it leaves us without absolute foundations, encourages a separate / individual sense of self and gives too much power to our imagination and how we may choose to live. While this may be liberating, it unfortunately offers little guidance and does not abide by the fact that humans

Book Club Discussion Questions for When You Reach Me

Book Club Discussion Questions for 'When You Reach Me' When You Reach Me by Rebecca Stead is a young adult novel that will delight adults and youth alike. Use these book club discussion questions on When You Reach Me by Rebecca Stead to lead your book club or reading group into Steads book. Book Club Discussion Questions  for  When You Reach Me Spoiler Warning: These book club discussion questions reveal important details about When You Reach Me by Rebecca Stead. Finish the book before reading on. How did the 20,000 Pyramid play a role in the story? How did her mothers quest with the game show mirror Mirandas quest to make sense of her life?Did you have trouble understanding the concept of time travel allowing something to happen before the person actually traveled back in time? Or did Malcolm and Julias explanations make sense to you?Malcolm tells Miranda, Einstein says common sense is just a habit of thought. Its how were used to thinking about things, but a lot of time it just gets in the way of whats true (51). Do you think thats true? Have you ever had to let go of assumptions in order to see the truth? Have you ever known anyone who was very smart but did not seem to have any common sense? Would you rather have a lot of common sense or the ability to see a few profound truths that other people miss?At what point did you realize the laughing man was Malcolm?Were you satisfied with the way all the mysteries came together in the end?A Wrinkle in Time by Madeline LEngle has a big impact on Miranda, but also on Rebecca Stead and the idea for this book. Did reading When You Reach Me make you want to read A Wrinkle in Time again? Is there any book that took hold of you the way A Wrinkle in Time took hold of Miranda―that you read and reread either as a child or an adult?How does Miranda change in this book? In what ways do her relationships with her mother and friends mature?Rate When You Reach Me on a scale of 1 to 5.

What personal responsibility do Ferdinand and Isabella bear for the Essay

What personal responsibility do Ferdinand and Isabella bear for the expulsion of the Jews from Spain in 1942 - Essay Example In order to deal with this issue, they introduced the Inquisition, but reports from the Inquisitors only confirmed their fears that converts to Christianity could not be considered secure in the faith until they could be prevented from having any contact with Jews. Shortly after the fall of Granada, with the Muslim threat quashed, and Christian emotion running high, they decided to move for expulsion. Therefore, they bear great personal responsibility, but it should be noted that they were heavily influenced by the Inquisition, and by political developments. It has often been suggested that in the period leading up to the expulsion edict, greater intolerance and anti-Semitism had been developing in Europe generally. From the 13th century onwards, what Gavin Langmuir termed ‘chimeric antisemitism’ arguably made itself felt in Europe (Peters, 17). Evidence of popular resentment against Jews, as the perceived enemies of Christendom, is plentiful. For example, there were massacres in the Rhineland in 1096, as the First Crusade began. Spanish society, which had hitherto been characterised chiefly by its peaceful coexistence, was not exempt from this trend towards anti-Semitism. Altabà © certainly adopts this viewpoint, as he states that ‘Muslim caliphs and Christian kings often referred to themselves with pride as emperors of the three religions’ (728). Until the 14th century, as Peters notes, the public life of the Iberian states was commonly termed convivencia, or ‘peacefully living together’ (9). Ca stile and Aragon were unique cases in Western Europe, in terms of their religious and cultural diversity. They had the most substantial populations of Muslims and Jews in the region, and despite the restrictions placed on the latter, Jews were still able to rise to positions of power, wealth and prominence. Jews were to be found among the advisers of the monarchs and lords, and many of the most exalted

Implications of Scapegoating Groups Essay Example | Topics and Well Written Essays - 1750 words

Implications of Scapegoating Groups - Essay Example The main feature of scapegoating is distortion of information. Implications Scapegoating aims toward many individuals today and affects roughly everyone in a way or another. According to Douglas (2000), scapegoats can be under attack due to characteristics common to such individuals. They can plainly face attack from traits they cannot control, for instance, their ethnicity or race. An apparent, but main consequence of scapegoating is unfairness toward minority groups. This act is a problem since it can result in stereotyping, and result in biased and unjust handling of individuals for no genuine motives at all. The most scapegoated groups include alcoholics, atheists and communists. Stereotyping is an implicit manner of scapegoating since by building negative generalizations concerning a group of people, often there is blame on them for actions that are out of their personal control. For example, Hitler blamed minorities for troubles in Germany. In this situation, the Jews stereotyp ed as ignorant and consequently, able to receive the blame of the majority population. Another consequence of scapegoating is the frivolous court cases that are infesting the court system. Beside malpractice, court cases, these court cases illustrate how the society today considers that they deserve to litigate against anyone, and cannot take responsibility for any of the events that they create. It is also the situation in cases where people get scapegoating so extreme, that they abuse the court system. These people can alternatively use their nationality to elect into office legitimate legislative bodies and laws. They can employ the use of other forms like arbitration and mediation to arrive at agreements and apprehend a balance of the liability. The reality is that both the sides share liability, and one side cannot anticipate leaving all to the other. The aim in these court cases needs to be on either side is putting the blame incorrectly on the other party, which is most of th e times on the part of the complainant in these frivolous court cases. Scapegoating entails a frustrated, disorganized society united in faulting a victim for their misgivings and taking out their hate and violent emotions on the victim or group. This incident, frequently seen emerging in crowds, for example, chanting in opposition to a character or event, burning effigies, and observable among the police in instances of arresting is a token menace. In a condition where a multitude is outrageous for unfairness they are experiencing and aggravated that their communication is not getting in to the public, media or politicians, they could create scapegoats of administrative officers or even journalists. The scapegoat is the individual who intimidates the safety of the group resulting in fear of losing their identity. The individuals become a risk to the intelligence of justice of the group resulting in resentment and a danger to the connectedness resulting in a sense of grief. The deed distorted, differences not acknowledged, the group considered as disjointed, and stability threatened. This implies that the human identity desires of the society are in jeopardy. As a result, the society turns towards those they can blame. It is also possible that police officers become the scapegoat for the multitude and possibly for

Women and development Essay Example | Topics and Well Written Essays - 750 words

Women and development - Essay Example This is mostly the case in African countries and countries of the Middle East. Unlike their American counterparts, most women in African countries and the Middle East face difficulties and are subjected to victimization by men. This paper seeks to compare women’s economic conditions in an undeveloped society in Africa with the conditions in America. Some of the aspects that the paper will explore include education, economic conditions, family structure, as well as health. In addition, the paper will give an explanation of the factors that contribute to the differences between the two cultures. There exist differences between the levels of women empowerment in both the United States and Africa. The economic conditions of women in most African countries are based on involvement in agriculture. In sub-Saharan Africa, for example, the involvement of women in the economic activities is based on informal labor. Women in sub-Saharan Africa can be regarded as guardians to their childr en and are the sole providers of the children’s material needs. Women are expected to cater for their children in terms of food, health needs, as well as education needs. This burdens women, and they cannot be said to have benefitted from the numerous advancements in technology with regard to the improvement in machinery used in agriculture (Nallari, 2012). On the other hand, women in the American society can pride themselves of improved economic conditions. For example, in the United States, women economic conditions can be termed as better than the economic conditions of women in Sub-Saharan Africa. American women have an opportunity to gain employment in formal work settings where they receive competitive salaries, just like their male colleagues. American women do not have to bear the burden of child rearing since they have high salaries, which they can use to cater for all the needs of their children. This explains why women play a key role in the economic development of America. Compared to women in Sub-Saharan Africa, American women do not experience poverty. Women from sub-Saharan Africa are subjected to poverty since their ascension up the social ladder is hindered by men. Sub-Saharan Africa women have to do household chores and also engage in meaningful employment in order to provide for their families (Thompson, 2013). In terms of education, women do not get equal opportunities like men in Sub-Saharan Africa, and this has hindered women from career advancement. While the boy child is highly regarded, the girl child is only allowed to gain basic education and their efforts to get higher education are threatened by men. For example, few women have outstanding academic credentials since they cannot access university education (Fallon, 2008). On the contrary, women in America have an opportunity to study with a lot of ease and get as many academic degrees as they want. This is an advantage to women since with academic credentials they can gain em ployment in reputable organizations and improve their status (Thompson, 2013). With little education, women cannot take advantage of numerous job opportunities that present themselves as compared to men. Since high income jobs are a preserve of the well educated, the governments in Sub-Saharan Africa have to the realization that women should also be accorded equal education rights with men. In the recent past, women empowerment has taken center stage in Sub-Saharan Africa as a result of which the society has been challenged to educate the girl child. Consequently, the girl child has started experiencing success in life since education is a regarded as key to a better life in the contemporary world (Mikell,

Business Communication Report of Hotel

Business Communication Report of Hotel Business Communication Report: A case study on King and Queen Hotel Suits Mt. Taranaki Resort Mahendernath Chivukula Contents (Jump to) Introduction 1. Organisational Culture 2. Leadership styles 3. Communicating business information 4. Eliminating barriers in communication within the teams 5. Team Work 6. Conflict Conflict resolution policy Conclusion Works Cited Introduction The King and Queen Hotel suites is a world class boutique hotel in New Plymouth that is offering various facilities to its customers since 2013. Since they are already into this business, now the management and the owners of the company decided to expand their business by opening new hotel Mt Taranaki Resort with recreational facilities along with hotel facilities. This report contains information about the management plans for the development of the business in order to give exceptional service to their customers at both the properties. This report explains how the company and employees absorb different cultures, leadership style, communicating business information, eliminating communication barriers, team work and resolving conflicts between the team members. As the Director of Human Resource it is my responsibility to convey the information efficiently to all the team members who are working with the organisation. To achieve the organisational goals effective communication paly major role. So there should be guidelines to the staff and the management to run the operations smoothly while delivering exceptional service to their customers. 1. Organisational Culture Organisation culture is the values and behaviour that contribute a unique social and psychological environment to an organization. It includes an organization’s expectations, experience and values that hold together. It helps to express its self-image, internal working conditions, interaction with other organizations and future expectations. It is based on attitudes, beliefs, written and unwritten rules that help to develop over time and considered to be valid. It is also called as corporate culture that shows the organisations how it conducts its business, treating its employees, in which extent freedom is allowed in decision-making, encouraging innovations, how the power and communication flow through its hierarchy and how employees are committed to achieve the organisational goals. (Businessdictionary.com, 2015) In hospitality industry where people live and work together with different cultures. It believes values and attitudes define the company. Since the staff directly serves people, so customers can judge our company every time they interact with the staff. So managing our culture is very important to deliver the right image or to leave good impression every time on the company. (Reinhart, 2015) The King and Queen Hotel suites is a world-class boutique in New Plymouth and the owner’s plan to develop the business, taking this into prospect the Mission and values of Mt Taranaki Resort would as followed. Our Mission: Our guest: We should be committed to meet and exceed the expectation of our guest with continuous dedication to every aspect of service. Our Family: we are committed to growth and development of our employees. Our stakeholders: We will create amazing value for our stakeholders. (Oberoihotels.com, n.d.) Our Values: Our team members should follow five core values to achieve the organisational goals and for self-development it is S.C.R.I.P.T S. C – The Spirit of Conquest R – Respect I – Innovation P – Performance T – Trust Our employee should come up with new ideas, their performance should be key to success, respect different cultural background people and last but not the least trust is the base of the management. (Values- Accor, n.d.) As the Director of Human Resource I would incorporate the above mission and values in the King and Queen Hotel Suites Mt Taranaki Resort to all the employees to ensure that both entities have the same brand. I will build this culture by recruiting the right people for the right job and ensure each and every person who recruited will under go an Induction programme were in a training sessions would be conducted on the core values of the organisation and would measure it by collecting feedback from all the employees and look at the end result i.e. to achieve organisational goals. 2. Leadership styles A leader is an individual who leads the group of people in an organisation or a person who as ability to do this. Leadership involves vision, sharing it with his sub ordinates, providing information, knowledge and methods to achieve that vision. To coordinate and balance the conflicts between all the team members. A leader who steps in when there is crisis situation and think creatively to solve the issue. These skills are not taught though it can enhance through training and mentoring. There are different styles, which exist in work environment. Each has its own advantages and disadvantages. Every organisation has its own leadership styles that are depended on the necessary task to complete the needs. (Businessdictionary.com, 2015) The different leadership styles are as followed. Laissez- Faire Autocratic Participative Laissez – Faire: A leader who lacks direct supervision of employees and could not able to provide regular feedback to those who work under him. Highly experienced employees who require little supervision fall under this style. However not all fall under this style. This leadership style produces no leadership or supervision efforts from managers that lead to lack of control and cost. (Johnson, 2015) Autocratic: This leadership style allows managers to make decision alone without any interruptions. It is also known as authoritative style leads who impose their will to employees. This helps employees who require close supervision. (Johnson, 2015) Participative: This style values the inputs of team members but the responsibility of making decision would be with the leader. This style boost employee morally because employees make contribution to the decision making process. If the organisation wants to do any changes this style helps employees accept changes easily because they participate in the decision process. (Johnson, 2015) As a Director of Human resources of King and Queen Hotel Suites Mt Taranaki Resort, we will ensure that the organisation always encourage participative leadership style and focus on employees by providing training on taking initiative, critical thinking, listening effectively, motivate others, discipline, constant learning, handling conflicts and to be a follower. So a good leadership should have all the essential elements, which are mentioned above to develop in career. And a constant feedback will be provided to the employees. The key for successful leadership is to be participative not authoritative/ autocratic. So we will ensure that all staff at King and Queen Hotel Suites will participate in the development of new hotel Mt Taranaki resorts. 3.  Communicating business information Communication plays a major role in any organisation and there are many ways that people communicate in the workplace. As we work in hospitality industry where we will handle different guest, internal communication plays major role to deliver the service. It is know that 75 to 80 percent of managers in hotel industry spend their time on written and oral communication. To be successful in the industry each and every employee should be aware of different communication methods and to know which one to be used effectively according to task required. The different types of communication used in hotels are face-to-face communication, emails, notice boards, team briefings, departmental meetings etc. (Sheahan, 2015) As the director of human resource manger for King and Queen Hotel suites Mt Taranaki Resort will try to ensure that staff are communicated well with the company’s vision, mission, its objectives and taking there company a level ahead. The communication strategies that can use at King and Queen Hotel suites and Mt Taranaki resorts for effective communication are as followed. Internal communication Marketing communication Communication with stakeholders Monitoring Nonverbal messages Internal communication: In this strategy the organisation has to communicate with their employees, managers and contractors. Jargons should be avoided in emails, notice boards and letters considering the level of knowledge of from bottom level employee to top level. Employees can give feedback or ask any question for the information they received from management. Marketing communication: Communicating marketing information to employees can influence the end result of the organisation. It will improve the business of the organisation. So employees should have information on the development of Mt Taranaki Resort and can give their inputs for growth. Communication with stakeholders: An organisation should have good communication with their stakeholders because they are the key role for the success of their business. Monitoring Non verbal messages: Most of the frontline staff in hotel industry communicates with their guest non-verbally through their body language, appearance, by monitoring non-verbal message the organisation can match non-verbal with verbal ones. (Johnston, 2015) 4.  Eliminating barriers in communication within the teams: There are lot of communication barriers in an organisation. In any workplace there should be clear, open communication. As a manager my job is to break down the barriers to communication within the teams. Steps to over come the barriers are as followed. Encourage awareness of misinterpretation of written words, and insist every employee to crystal clear. Differences in perspective – to over come this barrier we need to mind it before it begins. We have to be clear by outlining clear plans and step-by-step expectations of what required from each and every employee. A lack of trust – to over come this problem team building activities to be conducted to staff. So by building teamwork we can improve over all communication. Distractions – to over come this problem staff has to do everything possible to eliminate distractions within the teams. Information overload – sometimes too much information to staff can lead to misunderstanding and no clarity on message. To over come this barrier information should be essential one, ensuring there is no misunderstanding. (The Managers Minute, 2012) As a HR Manager I would need to be a proactive individual and construct multi-layered environment to take out any boundaries that may emerge and to keep the pattern going on the inn we would need take a gander at a wide range of requirements and needs of the representatives and making them blend with diverse societies so easily that they have exceptionally constrained measure of the obstructions in correspondence. 5.  Team Work Teamwork plays major role in any organisation which increase performance of employees, employee unity and organisation culture. Team members use teamwork to perfect ideas off of one another to develop the organisation goals. It helps to solve the problem-solving situation with help of multiple ideas from team members. Teamwork is the backbone of effective communication within the organisation. It helps to promote conversation between team members to do one task. When employee work together as a team each and every one can learn from one another. Employees from different departments can learn information from each other regarding the limitations and possibilities of those departments. (Marquis, 2015) Team building skills are essential for every employee in the organisation whether he is a manager, supervisor or staff. Basic team building skills can determine the success of an organisation. Our company promotes teamwork to create environment that lead to greater productivity and creativity. Following are the 8 strategies for King and Queen Hotel suites Mt Taranaki for effective team building: Common Goal: An organisation with multiple goals cannot reach its agendas. Our company has single goal i.e. exceeding the expectation of our guest by delivering 100% service. We as a team should ensure that all work towards our single goal to and achieve excellent customer satisfaction. Clarity Goal: All communication passed within the organisation should be clarity so that team members can understand overall purpose. Commitment from each team member: All members should work as a productive team, there has to be a commitment from each team member to achieve the company goal. Do What You Do Best: The purpose of teamwork is to group of people work together to accomplish the task. So each and every individual has to give his or her best out to the team. It’s Not About You: The hardest attitude to handle in assuming a part on a group is that its not about you. It not about your resume, what others will believe, its about assuming a part to fulfil the objective or undertaking that has been given. The hardest test to any task lead or supervisor is getting a gathering on people to capacity as a group and spot their own aspirations to the side. You Have Got to Talk Each Other: It is very important to have good communication within the team members to know about the task given to them. In recent times there are frequent tools that are used to communicate like email, mobile phones, social media and property management system to team members. Work as a Team, Play as a Team: As we all spend most of the time by working together in our company team members have to anticipate what others will do and how they will respond. This can only happen by being together. Everyone cannot Lead: Each task will have a supervisor. There are numerous approaches to pick a supervisor. A few managers decide to choose by a individual area of skill or their capacity to convey and oversee activities and individuals. The perfect circumstance is to delegate to a person that is talented in both ranges. (Finch, 2007) 6.  Conflict Organisational conflict is often result of a disagreement between two or more people in a company. It can also exist outside the organisation this usually involves one or more companies in the business environment. (Vitez, 2015) Conflict resolution policy In our company if there is any presence of conflict it can be serious issue that needs immediate resolution. If team members appear not to be interacting as cooperatively as we think. The company will engage those team members in conflict resolution solution. Our company has some strategies to over come this conflict situation. It will aid the team members in putting them in the following conflict resolution strategies. Discussion – conflict arises due to lack of communication if the team members are not having conversation with their other members. To over come this employee has to set up time for a discussion. Written communication – if any issue escalated one of the employees has lost temper, written communication may effective way of breaking down this conflict situation. Each employee can write a letter to each other by outlining the problem. By writing letter instead of face-to-face conversation benefit is can select careful words. It also make sure that the exchange doesn’t erupt into yelling. Meditation – conflicts cant work it out together without the intermission of third party. It can over come by arranging training sessions by third party to employees. It allows employees to sit down and can assist them in working out their problems. Compromise – employees has to give little and take little by compromising between the two. They can sit down with the manager and discuss the problem between two employees, arranging compromises instead of just choosing one employee interest over the other by this company can reduce likelihood one staff member feels slighted by the way in which conflict was resolved. Voting – simple way to resolve conflict is by voting, it is the most effective method. (Schreiner, 2015) Conclusion An organisation Culture is which empowers an organisation to understand the way of life that needs to be advised to the employees which empowers them to wind up pioneers who can take the organisation to the following level with the assistance of conveying the business data to the workers by diminishing the correspondence boundaries which can never be killed/ overcome for all time as the obstructions could emerge at any given circumstance. Teamwork is one of the vital parts of the business without cooperation no organisation can work through to the goals, mission and vision. Conflict resolution is one of the real territories that need to be determined on regular premise as conflicts could emerge at no given time. An approach has been made and imparted to the staff at the time of joining or at the time of their exchange, with the goal that there can be a determination rather that a huge case. Works Cited Businessdictionary.com. (2015). Retrieved April 2, 2015, from www.businessdictionary.com: http://www.businessdictionary.com/definition/organizational-culture.html Reinhart, C. (2015). Smallbusiness.chron.com. Retrieved April 2, 2015, from www. smallbusiness.chron.com: http://smallbusiness.chron.com/organizational-culture-hospitality-industry-12969.html Oberoihotels.com. (n.d.). Retrieved April 3, 2015, from www.oberoihotels.com: http://www.oberoihotels.com/about-us/mission-vision.aspx Values- Accor. (n.d.). Accor.com. Retrieved April 3, 2015, from www.accor.com: http://www.accor.com/en/group/accor-company-profile/values.html Businessdictionary.com. (2015). Retrieved April 5, 2015, from www.businessdictionary.com: http://www.businessdictionary.com/definition/leadership.html Johnson, R. (2015). Smallbusiness.chron.com. Retrieved April 5, 2015, from www.smallbusiness.chron.com: http://smallbusiness.chron.com/5-different-types-leadership-styles-17584.html Sheahan, K. (2015). smallbusiness.chron.com. Retrieved April 5, 2015, from www.smallbusiness.chron.com: http://smallbusiness.chron.com/business-communication-methods-115.html Johnston, K. (2015). Strategies for effective communication. Retrieved from Chron: http://smallbusiness.chron.com/strategies-effective-communication-57218.html The Managers Minute. (2012). nationalseminarstraining.com. Retrieved April 6, 2015, from www.nationalseminarstraining.com: https://www.nationalseminarstraining.com/managersminute/MGRMIN_0612/article3.cfm Marquis, A. (2015). smallbusiness.chron.com. Retrieved April 7, 2015, from www.smallbusiness.chron.com: http://smallbusiness.chron.com/importance-teamwork-organizations-14209.html Finch, D. (2007, August 5). davidsfinch.com. Retrieved April 7, 2015, from www.davidsfinch.com: http://www.davidsfinch.com/2007/08/8-basic-strategies-for-effective-team-building.html Vitez, O. (2015). ehow.com. Retrieved April 8, 2015, from www.ehow.com: http://www.ehow.com/facts_6763652_definition-organizational-conflict.html Schreiner, E. (2015). smallbusiness.chron.com. Retrieved April 8, 2015, from www.smallbusiness.chron.com: http://smallbusiness.chron.com/five-types-conflict-resolution-strategies-19251.html

The Legend of Narcissus :: Greek Mythology

In Greek mythology, â€Å"Narcissism" has its roots from the legend of Narcissus, a young man whom most deemed extremely handsome. A nymph named Echo developed an obsessive infatuation with Narcissus but he was unwilling to reciprocate such feelings to her or others. She finally gave up and isolated herself. Narcissus was then cursed to become socially isolated and reviled due to his complete self absorption by loving his own shadow from the pool (Wall & Loewenthal, 1998). Havelock Ellis (1898) first developed the concept of narcissism as a psychological construct referring to excessive masturbation by the people become their own sexual objects. Then this concept was adopted by Sigmund Freud (1914/1957) and other prominent psychoanalysts. Interestingly, the term â€Å"Narcissistic Personality Disorder† was first introduced by Heinz Kohut (1968), the founder of self psychology, and â€Å"Narcissistic Personality† by Otto Kernberg (1970) who is the major contributor of modern object relations theory. The DSM did not adopt the diagnosis of Narcissistic Personality Disorder until in the third revised edition published in 1980 (Siomopoulos, 1988). Thus, throughout the last century, the general term â€Å"narcissism† has been usually seen in the literature rather than Narcissistic Personality Disorder. From a recent study by Pincus et al. (2009), narcissism has been conceptualized as â€Å"one’s capacity to maintain a relatively positive self-image through a variety of self-, affect- and field-regulatory processes. It underlies individuals’ needs for validation and affirmation as well as the motivation to overtly and covertly seek out self-enhancement experiences from the social environment† (p.365). Normal and pathological narcissism. Researchers usually use the terms normal and pathological features of narcissism to describe adaptive and maladptive personality structure respectively, representing different psychological needs for self enhancement, validation, and regulatory mechanisms (e.g., Kernberg 1998, Kohut 1977, Morf 2006, Pincus 2005, Ronningstam 2009, Stone 1998). Some believe that normal and pathological narcissism are situated on a single continuum or dimension from healthy to disordered functioning (e.g., Cooper, 2005; Miller, Hoffman, Campbell & Pilkonis, 2008; Paulhus, 1998; Ronningstam, 2005b & Watson, 2005), while others contended that adaptive and pathological narcissism may be two distinct personality dimensions (e.g., Ansell 2006, Dickinson & Pincus, 2003; Pincus et al., 2009; Rathvon & Holmstrom, 1996; Wink, 1991). It could be found that the studies of social and personality psychology have more interest in the normal narcissism (e.g. Miller & Campbell, 20 08 ), whereas those researchers in clinical psychology focused more on the studies of pathological narcissism (e.

The Life of Mikhail Gorbachev

Kelsey Murray World History 26 February 2013 Nick Williamson The Life of Mikhail Gorbachev Mikhail Gorbachev’s life began much like many children in the small village of Privolnoye. His parents were peasant farmers but when the collectivization program took action, Gorbachev’s father went to work for the government. Only ten years old when the Nazis invaded the Soviet Union, Gorbachev experienced his father being drafted into the Soviet military. After four torturous years in the military, Gorbachev’s father survived. Mikhail Gorbachev was known as a hard worker, excellent student and did his best to help support his family.His interest in politics lead him to join the Komsomol. Gorbachev wanted to exceed in everything he did. He decided to apply to the prestigious Moscow State University to further his education. After being accepted he decided to study law in order to better his speaking and debating skills, which would help in his political career. While in co llege he met Raisa Titoenko and fell in love. The two married in 1953 and four years later had their first and only daughter whose name was Irina. The start to Gorbachev’s political career began with the promotion into the Communist Party.He eventually received the highest position, first secretary. National politics is what he was striving for and at age 47 he obtained the position as the youngest member of the Politburo. Gorbachev had lots of experienced behind the scene working with General Secretary Yuri Andropov and felt that he was ready to achieve the title, General Secretary. After failing once he tried again and became the leader of the Soviet Union. Gorbachev had a strong belief that the Soviet economy needed reforms. He did something many citizens never saw coming. He allowed and encouraged citizens o freely voice their opinions. He also allowed Soviet citizens to travel, cracked down on alcohol abuse, and pushed for the use of computers and technology. He’s most impressive movement was the deal he made between the Soviet Union and the United States. The two countries competed with each other over who could produce the largest cache of nuclear weapons. He met with Regan and agreed to stop making nuclear weapons, to end the arms race. Gorbachev did many good things for the Soviet Union and was even awarded the Nobel Peace Prize in 1990 but yet many citizens disliked Gorbachev having ower and continued to be critical towards him. Did the citizens have a reason to be critical? The answer is yes. Gorbachev’s reforms did not help the Soviet Union’s economy but actually weakened it. This caused many countries to abandon Communism and many republics within the Soviet Union demanded independence. All the pressure from the failing economy proved too much for Gorbachev and he resigned as president of the Soviet Union on December 25, 1991. (Rosenberg) Works Cited Rosenberg, Jennifer. â€Å"Mikhail Gorbachev. † About. com. 26 February 2013. http://history1900s. about. com/od/people/p/gorbachev. htm

Transitions, Repetitions, Comparisons and Contrasts as Robidouxs Basic Strategies

Transitions, Repetitions, Comparisons and Contrasts as Robidouxs Basic Strategies The introduction Some basic issues While analyzing the article written by Michael A. Robidoux, it is necessary to highlight the basic strategies the author uses in his work. It must be pointed out that Robidoux relies on specific rhetorical strategies, in order to assure readers that his arguments are reliable. The author investigates the genesis of violence in such kinds of sports as hockey and lacrosse and clarifies the relevance of physical force as an expression of Canadian identity. The thesis statement The article is based on certain rhetorical strategies, which help the author make his arguments more persuasive: transitions, repetitions, comparison and contrast are considered to be the major strategies Robidoux relies on. The body The fundamentals of the article and their analysis While reading the article, it becomes obvious that the author is mostly interested in comparisons and contrasts between traditional and modern sport. Thus, comparisons and contrasts as some of the mo st important rhetorical strategies give the author an opportunity to analyze the similarities and dissimilarities between past and present and, thereby, to clarify certain complex ideas. Relying on the strategy, Robidoux supports evaluative judgments, i.e. he highlights the importance of hockey for the nation.Advertising We will write a custom essay sample on Transitions, Repetitions, Comparisons and Contrasts as Robidoux’s Basic Strategies specifically for you for only $16.05 $11/page Learn More In other words, the author reveals the history of sport development in Canada, in order to represent the idea of nationalism. In my opinion, the primary task the author wanted to achieve was not only to reflect the interdependence between sport and identity, but to reinforce the kind of interdependence, i.e. he wanted to show that â€Å"to be a nation who plays hockey, means to understand what it means to be Canadian as being raced (namely white), classed ( namely middle-class), gendered (namely boys and men), and sexualized (namely straight) in very particular ways† (Allain 8). At first sight, it seems that Robidoux gives the readers an opportunity to trace back important historical events and make a corresponding conclusion. However, the author develops his arguments in a specific manner. When analyzing the article deeper, one can notice that the author’s every conclusion boils down to a question of Canadian national identity as distinct from Britain and America. Thus, the author points out that â€Å"the question becomes, then, how did a game such as hockey not only take shape in Canada, but become frequently cited as evidence that a Canadian culture exists† (Robidoux 209). When analyzing the sentence, it becomes obvious that the author uses transitions, in order to make a conclusion on the existence of Canadian identity. Robidoux tries to convince his readers in certain arguments by adding another points (furthe rmore), indicating cause and effect (then), emphasizing the importance of final results (in order to respond to†¦), etc. As far as the author’s every conclusion is related to the issue of Canadian nationalism, one can conclude that Robidoux tries to intensify the importance of Canadian identity through repetitions. He speaks about Canadian uniqueness all over. For this reason, the author’s arguments seem to be mostly subjective. That means that Robidoux’s arguments possess both strengths and weaknesses. One can suggest that my opinion is wrong, because the author recognizes certain contradictions in relation to the topic. For instance, Robidoux states: Since World War II, Canadians have been internationally perceived more as peacekeepers and, perhaps, even as being unreasonably polite – both political constructions in themselves – which makes it difficult to comprehend why a game such as hockey, known for its ferocity, speed and violence, woul d come to serve as Canada’s primary national symbol† (Robidoux 209).Advertising Looking for essay on ethnicity studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More To qualify a point again, the author uses transition (perhaps); comparisons and contrasts (thus, hockey as a violent sport and polite Canadians are considered to be incompatible issues), repetitions (while pointing out Canadian national symbol). While speaking about the strengths of the article, one is to keep in mind that the author’s analysis is based on strong evidence. He uses various kinds of sources and provides us with opinions of other researchers, specialists, critics, etc. The author pointed out that hockey and lacrosse played a great role in establishing Canada as a separated nation. He discovered the impact of sport on Canada’s national mythology appearance. To my mind, the author wanted to represent the country as a peaceful nat ion, and it is obvious that he succeeded in the kind of representation. On the other hand, however, it seems that some important aspects were neglected. I suppose that his article lacks some important details. Although, Robidoux showed us the relationship between the kinds of sport and Canadian identity, he failed to explain some specific points concerning Canada’s fear of American cultural imperialism. In my opinion, the author had to draw particular attention to Canada’s geographical proximity to America; while he mostly considered the impact of certain historical events on Canada’s identity formation. The conclusion Finally, it must be noted that the author’s arguments were effectively developed due to the rhetorical strategies he relied on; however, as far as Robidoux failed in objective reasoning, one can conclude that his persuasive techniques should be somewhat upgraded. Comparisons and contrasts gave the author an opportunity to present cause and effect relations concerning sport and Canadian identity. Repetitions were used to intensify the meaning of certain judgments, including the issue of Canadian nationalism. Transitions were used to clarify complex, but important ideas. : Allain, Kristi. Kid Crosby or Golden Boy: Sidney Crosby, Canadian National Identity, and the Policing of Hockey Masculinity, 2011. Web. Robidoux, Michael. â€Å"Imagining a Canadian Identity Through Sport: A Historical Interpretation of Lacrosse and Hockey.† Journal of American Folklore 115(456) (2002): 209–225. Print.Advertising We will write a custom essay sample on Transitions, Repetitions, Comparisons and Contrasts as Robidoux’s Basic Strategies specifically for you for only $16.05 $11/page Learn More

Traditional Vs. Roth IRA Your Ultimate IRA Guide

Traditional Vs. Roth IRA Your Ultimate IRA Guide SAT / ACT Prep Online Guides and Tips IRAs, or independent retirement accounts, are tax-advantaged savings accounts that help you save money for retirement. There are two main types, traditional IRAs and Roth IRAs, and they work in slightly different ways. This guide will tell you everything you need to know about traditional and Roth IRAs and help you decide which type of account is better for you. Before delving into the differences, let’s go over what you need to know about independent retirement accounts in general. What Is an IRA? An IRA is a type of savings account designed to help you save for retirement. IRAs offer a major tax advantage wherein your money is only ever taxed once. In a brokerage account, your money can be taxed twice. An IRA is made up of financial products like stocks, bonds, and mutual funds. The money you contribute will slowly grow over time as a result of annual compound interest. Typically, savings in IRAs grow at a rate of 5% to 7% each year. While this growth won’t look like much at first, it can add up significantly over the decades. If you start saving in your twenties rather than your thirties, you’ll see a huge difference in returns. When it comes to saving for retirement, you’re much better off the earlier you start. While you can start contributing to an IRA at any time, you must abide by an IRA contribution limit. Read on to find out how much money you can put each year into your IRA. By putting your money in a protected environment, it can grow significantly bigger over time. How Much Can You Contribute to an IRA? Whether you have a traditional IRA or Roth IRA, you can only contribute up to $5,500 per year. This was the IRA contribution limit for 2015 and 2016. It could change in years to come due to inflation. If you’re over 50 years old, then you can contribute $1,000 more for a yearly total of $6,500. This extra $1,000 added to the IRA contribution limits is considered a â€Å"catch up† contribution to help out those who didn’t max out their limits in earlier years. Most people contribute to their IRAs via automatic monthly payments. You can put in as much or as little as you like, but you’ll see the greatest long-term benefit by contributing up to the $5,500 limit. Now that you have a general sense of IRAs and how they help you save for retirement, let’s look closer at the differences between a traditional vs. a Roth IRA. People 50 and over can contribute an additional $1,000 per year to catch up as they round the bases toward retirement. Roth vs. Traditional IRA: How Are They Different? The major difference between a traditional IRA and a Roth IRA has to do with how your money is taxed. By learning about the different tax structure, you can figure out which one is more advantageous to you, depending on your age and financial profile. The second difference when you look at Roth vs. traditional IRA has to do with when you can withdraw money. Consider the tax and withdrawal rules for traditional IRAs, followed by the tax and withdrawal Roth IRA rules. Tax Advantages of a Traditional IRA Traditional IRAs allow your money to grow completely un-taxed until you take it out. You contribute pre-taxed money, which grows in your account until you withdraw. While your money is tax deductible when you contribute to a traditional IRA account, it’s taxed normally when you withdraw. You’ll pay all the taxes that you didn’t pay before, but you may find that you’re saving money on taxes overall. Why? You may be in a lower tax bracket when you retire than you were when you were working and contributing money to your IRA. Traditional IRA Withdrawal Rules When you contribute money to a traditional IRA, you can’t touch it until you’re 59  ½ without penalty. If you withdraw money before, then you’ll have to pay a hefty 10% penalty. It’s recommended that you take out about 4% of your savings per year during retirement. Some accounts also have required minimum withdrawals (RMDs) that compel you to take out a certain amount of money once you hit 70  ½. Even if you’re still working at age 70  ½, you’ll be required to start withdrawing money from your IRA. the amount of the RMD varies by individual and is calculated based on your account balance and age. When you contribute to a traditional IRA, your money is basically kept under lock and key until you’re 59  ½. Tax Advantages of a Roth IRA While traditional IRAs are taxed later, Roth IRAs are taxed now. In other words, you contribute money that’s already been taxed to a Roth IRA. You don’t get any tax breaks for your contributions, but you won’t have to pay any taxes when you withdraw. Basically, a Roth IRA works in the exact opposite way of a traditional IRA. You pay taxes when you contribute and not when you withdraw, whereas with a traditional IRA you pay taxes when you withdraw and not when you contribute. Roth IRA Withdrawal Rules Roth IRA rules are more flexible than those of traditional IRAs about when you can withdraw your money. You can take out money from a Roth IRA at any time without penalty as long as you’ve held the account for at least five years. Technically, you can only withdraw money you’ve contributed without penalty. You can’t touch any earnings on your contributions until you retire. Roth IRAs also don’t have any RMDs, so you’re not required to take out your money once you surpass a certain age. With a Roth IRA, you could withdraw all your funds after five years to buy that pleasure yacht you’ve had your eye on. But, you probably shouldn’t. Traditional IRA vs. Roth Ira- Which One Should You Choose? Given the difference between Roth IRA rules and traditional IRA rules, which account would be more beneficial to you? The answer to that question largely depends on your age and current tax bracket. Younger people typically benefit more from a Roth IRA. They have plenty of time for their money to grow until retirement, and they’re usually in a lower tax bracket than they will be in 10 or 20 years. If you’re in your twenties and your tax bracket is 20% or lower, then you’ll probably benefit from a Roth IRA. People who are older and/or in a high tax bracket will probably do better with a traditional IRA. They can contribute more money, since it’s not taxed, and pay taxes when they’re in a lower tax bracket after retirement. To see how tax brackets affect your savings in an IRA account, consider the chart below. If your tax rate is lower in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 15% Annual investment $5,500 $5,500 After-tax value in retirement* $613,313 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate is higher in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 33% Annual investment $5,500 $5,500 After-tax value in retirement* $505,593 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate goes down in retirement, then you’ll have more money from a traditional IRA. If your tax rate goes up, then you’ll end up with more savings from a Roth IRA. A secondary factor to consider when deciding between a traditional and Roth IRA is your financial self-control. As you read above, the two types of IRAs have different withdrawal rules. Will you be able to resist withdrawing money from a Roth IRA before retirement? Since there’s no penalty for withdrawing after five years, you’ll need to set limits on your spending so you don’t end up splurging on a luxury vacation to Fiji with your hard-earned money that was supposed to go toward retirement. If you don’t have clear cut answers to either of these considerations, then you might consider opening both types of IRAs. Choosing between a traditional IRA and Roth IRA requires that you consider the balance between your tax bracket and years until retirement. Can You Choose Both Types of IRAs? If you’re unsure which account is more advantageous to you, then you could consider setting up both a traditional and a Roth IRA. If you start to see real advantages to one over the other, then you could roll your money over to one account. Before opening both types, you should carefully consider the implications of taxes. If you opt for the Roth IRA, then you’ll have to pay taxes on any money that you roll over from a traditional IRA. This money would have otherwise grown untaxed until you withdrew it at age 59  ½. You should also note that opening both types of accounts won’t increase your yearly contribution limit. If you choose both types of IRAs, then the $5,500 limit applies to both. You can only contribute $5,500 collectively to your retirement savings accounts per year. Choosing both types of accounts is unnecessarily complicated for the majority of people. You should only do so if you’ve done some serious calculations and feel that it would be financially beneficial to you in the long term. For most of us, choosing one type of account based on our age and current tax bracket is the better way to go. Once you’ve chosen your type of IRA, how do you get about setting up an account? If you're having trouble deciding between types of IRAs, you could hedge your bets and open both. How to Set Up an IRA There are a number of IRA providers with whom you can set up an account. Most require a minimum investment up front, but some are a lot lower than others. When you set up an account, you can either set it on auto-pilot or take a hands-on approach to choosing your investments and designing your portfolio. Below are six recommendations for the best IRA providers, but first, let’s go over the factors you should consider when choosing an IRA provider. What to Look for When Choosing an IRA Provider The best IRA providers offer some or all of the following: Low account fees Low account minimums Good customer service and educational resources for new investors Low fees for trading stocks (this mostly applies to people looking to take an active approach to building their portfolio) If you fall in the majority of people who want someone else to manage their account, then you should look for a managed account or a target-date fund. In these types of account, you’ll pretty much only have to set your estimated date of retirement. A broker will do the rest. Now that you know what to look for in an IRA account and provider, check out the suggestions for the top six IRA providers. When choosing an IRA account, you should look for low account fees and low account minimums. Best IRA Providers for 2016 Based on the factors listed above, these six providers rose to the top for their low account fees, strong customer service, and other offerings. TD Ameritrade - popular provider with strong resources and support for new investor. TD Ameritrade doesn’t require any minimum balance, and it has a large selection of funds to choose from. One downside is that its trade commission fees are higher than usual at $9.99. TD Ameritrade, then, is a better choice for the new or hands-off investor, but not as popular among active traders. Vanguard - another popular low-cost provider with a $0 minimum balance. Vanguard is especially strong when it comes to target-date funds, where you set your date of retirement and don’t have to do much else. E*Trade - a provider with a large selection of funds and no account minimums. E*Trade stands out for its user-friendly website. Wealthfront - this provider manages accounts of up to $10,000 for no fee. Wealthfront, then, is good for the average investor who wants to take a hands-off approach. Betterment - like Wealthfront, Benefit is appealing to the hands-off investor. It tends to cater to people with large balances of $100k or more. Options House - best for active traders. Options House has a lower than average per trade fee of just $4.95. Once you’ve decided between a traditional and Roth IRA and chosen your provider, how do you open your account? When it comes to choosing an IRA provider, you've got options. Delicious, delicious options. How to Open an IRA Account Opening an IRA account is an easy, online sign-up process. Just head to the website of your chosen provider and fill out the IRA application. You’ll enter personal information, including your social security number and employment information. Most providers offer a different kinds of accounts, so you'll choose the one you want to open. Here's an example from TD Ameritrade's "Open New Account" page. Source: TD Ameritrade You’ll also indicate how you’ll fund the account, e.g., through automatic monthly transfer from your bank account. You can also transfer money from an existing IRA or 401k (an employer-sponsored retirement account). Depending on your funding choice, you may need your account and routing number or the account number of a separate account. The best way to make the most of your IRA is to deposit money on a monthly basis, to max out your annual contribution limit, and to start as early as you can. If you start saving in your twenties, then you could have a savings account with hundreds of thousands of dollars by the time you retire. In closing, let’s go over the key points you need to remember about IRAs. Opening your IRA account is the first step toward a secure retirement! Saving for Retirement in an IRA: Key Takeaways When it comes to saving for retirement, it’s never too early to start. Because your money grows in an IRA, you’ll see significantly more earnings the longer your money is invested in the account. IRA accounts are especially beneficial because of their tax advantages. Your money will only ever be taxed once, either when you withdraw it, as in a traditional IRA, or when you contribute it, as in a Roth IRA. Both accounts have advantages, and the one you choose should largely depend on your age and current tax bracket. While you should figure out which account will maximize your savings, in truth, you can’t go wrong with either. Both are tax-advantaged accounts that will help you save up money that you’ll rely on later in life. By opening and contributing to an IRA, you invest in your future and let your money work for you. What's Next? What is ROA, and how can looking at it provide you with helpful investment information? We discuss the meaning of ROA (return on assets) and how you can use it in this article. Not ready to open up an IRA but still looking for ways to save? Try the 365-day penny challenge!

Personal statement Essay Example | Topics and Well Written Essays - 500 words - 17

Personal statement - Essay Example The vibrant and energetic environment, a learning environment that is very conducive, state of art facilities, research, and innovation in the institution provides a perfect gateway to success of the student. As a student at Iowa University, I have been able to learn and contribute in diverse areas outside the academic world. My leadership skills surpassed expectations when I was elected the vice president of Chinese Union in the University. This position required exceptional leadership skills, organization, and dedication. Holding such a senior position made me realize that focus and diligence are the keys to success in any endeavor. University of Miami is a multicultural center and therefore will be the most opportune place to further my interest in intercultural activities. I have realized that a student life must be enriched by participation outside the academic world. Therefore, I successfully initiated a band named â€Å"NO IDEA† that seeks and promotes musical talents through composing and performing songs. Certainly, I will be best placed in University of Miami as a music enthusiast through various talent exposition programs offered by the university. Additionally, Miami is located in an environment that is similar to my hometown and this will be a great advantage when adapting to the new environment. I have profound teamwork skills, which I gained as a volleyball captain. Indeed, I was able to train and improve the performance of the team up to national standards. Currently, I am the proprietress of the university photography club, which nurtures and promotes skills in photography among the student community. I believe these teamwork and interpersonal skills will enable me integrate with the culturally diverse community in Miami University. It will be a great opportunity to grow intellectually, personally, and culturally. However, I believe that my diverse

Common assessment Essay Example | Topics and Well Written Essays - 1250 words

Common assessment - Essay Example In the United States, it is the Financial Accounting Standards Board (FASB) that sets the GAAP standards for private firms while it is the IASB sets principles for international accountants (Horngren et al, 2008). Compliance with GAAP is mandatory by every business operating in the USA. Corporations that are public companies are closely monitored by the Securities and Exchange Commission (SEC) to ensure their compliance to GAAP. II. GAAP and description of the accounting principles In the GAAP there exists accounting principles which also serves as measurements of conventions that are significant which are cost recording, revenue recognition and the matching principle. The recognition principle states that a company records revenues in its accounts only when it has earned and realized the revenue (Horngren et al, 2008 p.703). Revenues therefore cannot be recognized if it has not been earned. A second important convention is the matching principle which states that revenues must be li nked to the expenses associated with them. Accountants apply the matching principle by identifying the revenue recognized during a period and by linking the expenses to the recognized revenue directly ( Horngren, 2008 p.703). The Cost Principle This GAAP accounting principle states that the recording of cost must be at their fair market price. Fair market price is determined by the amount reflected on documents accompanying the goods and/or services to ensure objectivity and accuracy of accounting when purchases are made. The effect of this costing principle on assets is that its value will not change until the market value of the asset changes. To effect this change in the books according to GAAP principle, a new require a new transaction as an evidence to effect the change of the value of the asset. In cases where objective evidence is not available to ascertain cost, the transaction can instead be recorded at its fair market value as determined by a third party appraiser (McKeown , 1973). The Revenue Recognition Convention The recognition principle states that a company records revenues in its accounts only when it has earned and realized the revenue (Horngren, 2008 p.703). Revenue cannot be recognized if it has not been earned. This principle states that revenue must only be completed and recorded into a company’s books when the transaction is already completed. This means that revenue will only be recorded once actual payment is received. On occasions when transactions involve huge projects which take a very long time to finish such as construction of buildings, revenue is done an accrual basis whereby it will bill its client on periodic basis on the amount of work that has been done or completed and recognize the revenue even if there is still work in progress (Klueh, 2009). Recognizing revenue correctly is important to the accuracy of the financial statements because earning is a critical aspect of a financial statement which can affect the compan y’s many stakeholders. The Matching Principle A second important convention is the matching principle which states that revenues must be linked to the expenses associated with them. Accountants apply the matching principle by identifying the revenue recognized during a period and by linking the expenses to the recognized revenue directly (Horngren, 2008 p.703). This can be likened to the revenue recognition principle whereby expenses related to the revenue that were earned during a certain accounting period must be reflected in the books of the