Companies and Securities Law Assignment Essay Example

Companies and Securities Law Assignment Essay Companies and Securities Law Assignment Venture Pty Ltd, which uses the Replaceable Rules for its Constitution, is a small proprietary company originally. As it is growing fast, the shareholders are all on the Board and they all have a number of complicated transactions with the company. Many of them are suppliers to the Company and most of them have loans or finance of some sort with the Company. The business is growing so fast that the original type and structure of the company may hinder the further development of the company’s business. So the existing shareholders want to expand and to do this they want to float the business as a Public listed company. Introduction: This report will discuss the process for Venture of changing the company type from a proprietary company to a public company and also make an investigation into the steps for it to becoming a publically listing company. What’s more, the discussion also focus on any constitutional matters that need to be dealt with when listing, any corporate governance practices that need to be adopted when becoming listed company, any main listing requirements provided in the ASX Listing Rules and Corporations Act with which need to be comply, and any disclosure obligations for Venture when involving in IPO and after becoming a publicly listing company. ASX:The ASX operates a market for equity and  debt securities  issued by listed companies. We will write a custom essay sample on Companies and Securities Law Assignment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Companies and Securities Law Assignment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Companies and Securities Law Assignment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer To protect the integrity of that market, ASX has standards for the behavior of listed  companies through its Listing Rules. The Issuers business unit makes day-to-day decisions about the application of the ASX Listing Rules. Guidance notes are also published to assist listed  companies and their advisers to understand how certain listing rules and procedures operate. 1 The process of changing the Company and getting listed The g shareholders of Venture Pty Ltd seek to change Venture to a public listed company for reasons, the principal one usually being to enable it to undertake public capital-raising to expand its business. The steps and processes for Venture Pty Ltd to change from a â€Å"proprietary† to â€Å"public† company involve the followings steps which are Board Meeting, EGM Documents, Timing, Extraordinary General Meeting, Change of Type and ASIC. And after becoming a public company, the shareholders of Venture want to have the company get listed on ASX to become a publicly listed company in Australia. A, The process of changing the company 1. Board Meeting Board meetings are held so members of a board of directors can make decisions regarding the direction of a company. Often board meetings must be held publicly, though frequently only the board members attend. Board members vote on decisions regarding the company and there normally must be a quorum in order for the meeting to be considered legal. A quorum, unless otherwise defined by the board represents at least half of the board members. During board meetings, the secretary records all discussion and actions taken by the board, called the minutes. The secretary will then type up the minutes, which usually must be filed and kept in case there is any government investigation of the board at a later date. Minutes also may need to be presented to the public should there be a request for such from the public. The Board also needs to decide whether a new Constitution is necessary. Often a new â€Å"public company† specific Constitution is appropriate although the existing Replaceable Rules used as Constitution of the Venture will usually suffice (subject to any Corporations Act provisions for public companies then over-riding any conflicting articles of the Constitution). 2. EGM Documents Including the EGM Notice, Explanatory Memorandum, Proxy Form and Letter to Shareholders are finalized, printed and dispatched. If a new Constitution is proposed shareholders would usually be advised in the EM or Letter that it is available in need (by hard copy or by email) or posted on the Company’s website, rather than mail it to all shareholders. 3. Timing A minimum 21 days’ clear advance notification1 is necessary for the EGM subject to the Company’s Constitution, including Notice posting/delivery days. So normally say a minimum 4 weeks to be on the safe side. 4. Extraordinary General Meeting Extraordinary General Meetings are important company procedures. It is crucial that they are conducted with utmost precision so you comply with the law. An extraordinary general meeting (EGM) of a company is a general meeting of all members of a company (this usually means shareholders), an EGM gives shareholders a chance to vote on important decisions. An EGM may be called at any time. A resolution in favour of a change to â€Å"public† company type requires the passing of a â€Å"special resolution†, that is, the consent of 75% of shareholders present in person and/or by proxy2 (subject to any contrary wording in the existing Constitution not in conflict with the Corporations Act). , Change of Type With the change to a public listed company a number of matters must be dealt with or have effect, etc. In particular: †¢ By no later than the effective date (which will be known in advance because of the gazettal period), the Venture must have a minimum three Directors3 and a Company Secretary4. Note: for a public company at least 2 of the Directors and the Company Secretary must be Australian residents. †¢ Directors appointed need to be more conscious of the Corporations Act sections covering ‘related party interests’, particularly in relation to voting restrictions5 and difficulties that could arise with ‘related party benefits’6, for the reasons that the previous board of directors of the Venture Pty Ltd, that is, the old form of the company all have a number of complicated transactions with the company. †¢ The Company must clearly display a notice showing â€Å"Registered Office of the Company†7. And all stationery, check book, written references to the Company, use of Company name and etc. must indicate its new type. Within 1 month of the effective date an Auditor must be appointed, although his written consent must first be obtained. Such appointment must be ratified at the next AGM8. †¢ Annual Accounts must be audited and lodged with ASIC by 31 October each year (as well, if the Company becomes a Disclosing Entity, it must lodge audit-re viewed half-yearly accounts) and must be sent to shareholders (usually as part of an Annual Report) by 31 October. †¢ An AGM must be held by 30 November9. 6, ASIC The  Australian Securities Investments Commission  (ASIC) is an independent  Australian government  body that acts as  Australias corporate regulator. ASICs role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. To change company’s type, the Venture must lodge application Forms 205 206 with ASIC after the EGM10. The application must be accompanied by the following11: †¢ A copy of the special resolution that resolves to change the type of the company, specifies the new type and the companys new name (if a change of name is necessary); and any other special resolution passed in connection with the change of type; †¢ A consolidated copy of the companys new constitution (if any) as at the date of lodgment; Then follows the â€Å"gazettal period†, that is, one month after publication4 (which may not be until up to a couple of weeks after lodging the Forms) of the Company’s intention to change type in the Commonwealth Government Gazette. After the one month date, if there have been no objections (e. g. by creditors), ASIC issues a new â€Å"Certificate of Registration on Conversion to a Public Company†. This is the date the change takes effect. B, The process of getting listed Before introducing the process necessary to getting listed, it’s better to get a deep knowledge about the listing. . Listing Listing means admission of securities to dealings on a recognised stock exchange. The securities may be of any public limited company, Central or State Government, quasi governmental and other financial institutions/corporations, municipalities, etc. Listing is the process of taking a privately-owned organisation and making the transition to a publicly-owned entity whose shares can be traded on the Australian stock exchange. For example, a company is said to be â€Å"listed†, â€Å"quoted† or â€Å"have a listing† if its shares can be traded on ASX for public trading. The objectives of listing are mainly to : †¢ provide liquidity to securities; †¢ mobilize savings for economic development; †¢ protect interest of investors by ensuring full disclosures. To be more accurate, it is the securities that are listed, not the company. The phrase â€Å"listed company† is widely used to mean a company that has listed  ordinary shares. It is possible (although not common) for a company to have listed  debt securities  but not listed shares. Listing in more than one market is possible through  secondary listings, or through the more complex approach of  dual listing. The ability to have its shares traded on a stock exchange is central to an organisations decision to list. The fundamental role of a stock exchange is to bring together in one market place providers of capital and organisations that require capital. ASX undertakes this role in Australia and as such, acts as a hub at the centre of the Australian economy. Providers of capital earn a return on their investments through dividends and capital growth, thereby increasing the overall wealth of the nation, while the organisations in which they invest provide jobs and drive the economic development of Australia. . The benefits of listing A companys reasons for deciding to publicly list on the stock exchange often include the ability to get access to the capital markets for financial expansion and acquisitions. They usually have invested many years of plowing back profits and guaranteeing borrowings and rather than sell out, they wish to remain with the company and be part of its future growth. There are many advantages that accrue to companies that attain a public listing of their shares. Some of the key considerations and benefits are:    § Creating a market for the companys shares; Enhancing the status and financial standing of the company;    § Increasing public awareness and public interest in the company and its products;    § Providing the company with an opportunity to implement share option schemes for their employees;    § Accessing to additional fund raising in the future by means of new issues of shares or other securities;    § Facilitating acquisition opportunities by use of the companys shares; and    § Offering existing shareholders a ready means of realising their investments. . Process of getting listed12 STEP 1: Appoint and consult with advisers Underwriters, stockbrokers, Corporate Advisers, Accountants, Lawyers, Experts. STEP 2: Making notice to ASX Preliminary stages—guidance on general IPO process. That is, ASX welcome s the opportunity to find out more about the company’s business and to help it with general guidance on the listing process and to advise it on ASX’s role in that process. Advanced stages—guidance on ASX Listing Rules. That is, at these stages, ASX provide the company with insight into the listing process, regulatory issues, structural issues and organisation constitutional issues that the company need to be aware of before listing and answer queries regarding the ASX Listing Rules and general business issues including: †¢ Constitution documents †¢ Whether ASX would be likely to treat any securities as restricted and apply escrow provisions †¢ Related Party transactions †¢ Employee incentive schemes †¢ Management agreements †¢ Listing timetables, and †¢ Meeting initial and ongoing Listing Rule obligations generally. STEP 3: Preparation of Prospectus and Due Diligence The due diligence process is integral to the preparation of the prospectus and allows all parties concerned to satisfy themselves of their legal responsibilities, the structure of the transaction, and the content of the prospectus. A Due Diligence Committee is usually established to conduct this process. The process involves an all encompassing examination of your company and detailed verification of the information disclosed in the prospectus carried out by key participants in the IPO process, such as Management, Company directors, appointed advisers and underwriters. Importantly, the due diligence process also provides a statutory defence against potential liability under the Corporations Act in certain circumstances. STEP 4: Lodge prospectus The prospectus is lodged with ASIC once approved by the company’s board. After lodgment with ASIC, a company cannot accept subscriptions under a prospectus for a period of 7 days. This period can be extended by ASIC to 14 days during which time ASIC can require amendments to be made to the document. STEP 5: Apply to list Having prepared and lodged your prospectus with ASIC, you are now able to submit your listing application to ASX. The application form is contained in Appendix 1A of the ASX Listing Rules and must be received by ASX with the relevant admission fees within seven days of lodging your prospectus with ASIC. ASX will review your application and Prospectus to ensure that it satisfies ASX’s Listing Rules. Listing application must be lodged within 7 days of lodging your prospectus with ASIC. STEP 6: IPO period Average of 6 to 8 weeks Once the prospectus has been lodged with ASIC, the company announces the opening of the offer. Moreover it is common for companies to conduct roadshows to present their investment credentials to institutional investors. These can assist in achieving substantial share purchase commitments in advance. STEP 7: Admission to ASX official list Subject to conditions including completion of capital-raising. STEP 8: Commence trading Official quotation of the Company’s securities Once ASX has considered a company’s listing application, the company will be advised in writing of the outcome. This will be in the form of a decision containing the conditions that need to be satisfied before the company is admitted to the official list (such as closing the offer, raising the minimum subscription amount, allotting and issuing securities and having sufficient shareholder spread), and the conditions that must be fulfilled before quotation can commence (such as despatch of holding statements, return of any refund money and provision of a shareholder distribution schedule and a statement setting out the names of the top 20 holders). Quotation will normally commence on the third business day following despatch of holding statements to shareholders. Your shares will be quoted on ASX’s integrated trading system. 2 Constitutional matters which need to be addressed According to Corporations Act, after changing to a public company, Venture is required to have its own Constitution13, rather than using the Replaceable Rules as its Constitution when it gets ready for listing on the ASX. Also in order to comply with ASX Listing Rules, the company is requested to alter its original Constitution by completing a specified checklist and submitting it accompanying with its amended Constitution to ASX. The purpose of the checklist is to assist when revising their constitution or adopting a new one to ensure that it complies with the listing rules. It is also to assist ASX in reviewing documents related to the changes in a timely manner. Reference to ASX Listing rules: Appendix 1A, and download the â€Å"Checklist for Constitutions of listed entities† at ASX. com. au) 3 The corporate governance practices need to be adopted For all listed companies in Australia, there is an Australian Stock Exchange Limited (ASX) Listing Rule requiring the inclusion, in the Companys annual report14, of a statement of the main Corporate Governance practices that have been applied during the reporting period. In March 2003 the ASX issued its Corporate Governance Council’s best practice recommendations. Later on the second Edition Corporate Governance Guidelines—the Corporate Governance Principles and Recommendations, was released in August 2007. On 30 June 2010, the ASX Corporate Governance Council released amendments to the 2nd edition of the Corporate Governance Principles and Recommendations in relation to diversity, remuneration, trading policies and briefings, which will apply to listed entities from 1 January 2011. Assume that the Venture apply for getting listed after 1 Jan 2011, the Amendments to 2nd edition will apply to it. The Board of Directors of Venture has to make a decision about the recommendations and principles which it endorses and will adopt therein as the basis for the Board Charter on Corporate Governance. Also the Venture is required to set out the relevant disclosure in a separate corporate governance statement in its annual report. The statement should outline the main Corporate Governance policies that have been applied throughout its financial year. Here, we could roughly introduce the corporation governance practices available to Venture for setting out its own Corporate Governance policies according to the â€Å"The Corporate Governance Principles and Recommendations† 15. †¢ Principle 1 – Lay solid foundations for management and oversight—Companies should establish and disclose the respective roles and responsibilities of board and management. †¢ Principle 2 Structure the board to add value—Companies should have a board of an effective composition, size and commitment to adequately discharge its responsibilities and duties. Principle 3 Promote ethical and responsible decision-making—Companies should actively promote ethical and responsible decision-making. †¢ Principle 4 Safeguard integrity in financial reporting—Companies should have a structure to independently verify and safeguard the integrity of their financial reporting. †¢ Principle 5 Make timely and bala nced disclosure—Companies should promote timely and balanced disclosure of all material matters concerning the company. Principle 6 Respect the rights of shareholders—Companies should respect the rights of shareholders and facilitate the effective exercise of those rights. †¢ Principle 7- Recognise and manage risk—Companies should establish a sound system of risk oversight and management and internal control. †¢ Principle 8- Remunerate fairly and responsibly—Companies should ensure that the level and composition of remuneration is sufficient and reasonable and that its relationship to performance is clear. What’s more the Corporations Act requires particular information to be included in the directors’ report; the company has the discretion to include a cross-reference to the relevant information in the corporate governance section of the annual report rather than duplicating the information. For more general information, there are requirements to make this information publicly available, ideally on the company website. 4 What are the main listing requirements that need to be followed? Venture must also meet specific requirements set out in the ASX listing rules in order to be eligible to list. These requirements include a set of minimum admission criteria, including structure, size and number of shareholders. The following table summarizes some of the key criteria Venture will need to meet to be eligible for listing16: |Criterion 1 |The entity’s structure and operations must be appropriate for a listed entity. | |Criterion 2 |The entity must have a constitution and | |Criterion 3 |The entity’s constitution must be consistent with the listing rules. |Criterion 4 |A prospectus or Product Disclosure Statement must be issued and lodged with ASIC. | |Criterion 5 |The entity must apply for and be granted permission for quotation of all the securities in its main class | | |of securities. | |Criterion 6 |An entity must satisfy either (a) or (b). | | |(a) There must be at least 500 holders each having a parcel of the main class of securities with a value | | |of at least $2,000. | | |(b) Both of the following are satisfied. | |There must be at least 400 holders each having a parcel of the main class of securities with a value of at| | |least $2,000; | | |Persons who are not related parties of the entity must hold that number of securities in the main class, | | |excluding restricted securities, which is not less than 25% of the total number of securities in that | | |class. |Criterion 7 |The entity must satisfy either the profit test in rule 1. 2 or the assets test in rule 1. 3. | |Profits test17 | | |To be eligible for admission by meeting the profits test, each of the following must be satisfied (in | | |addition to various other threshold requirements): | | |the entity must be a going concern; | | |the entitys main business activity must have been the same for the last three years; | | |three years of audited accounts must be provided to the ASX; and | | |the entitys aggregated profit from the last 3 full financial years must have been at least $1 million and| | |at least $400,000 net profit over last 12 months. | | |Assets test18 | | |In th e case of entities that are not investment entities, the assets test outlined chapter 1 provides that| | |the entity involved must at the time of admission: | | |have a market capitalisation of $ 10 Million; or | | |have net tangible assets of $ 2 Million after the costs of fundraising. | |And | | |less than half of the entities assets must be in cash (or in forms readily converted to cash); or | | |half or more of the entities total tangible assets (after fund raising) are in cash, and the entity has | | |commitments to spend half of its cash consistent with its statement of business objectives that it must | | |provide to the ASX; | | |And | | |the entitys prospectus, product disclosure statement or information memorandum must include a statement | | |that it has enough working capital to carry out its stated objectives; or | | |the entity must have at least $1. 5 Million in working capital. | | |In addition | | |providing the ASX with 3 years of audited accounts and reports that are available. | |If the accounts have not been audited, the ASX must be notified; and | | |A proforma balance sheet, together with a review by a Registered Company Auditor. | |Criterion 8 |The entity must appoint a person to be responsible for communication with ASX in relation to listing rule | | |matters. | |Criterion 9 |The entity must provide a statement disclosing the extent to which the entity will follow, as at the date | | |of its admission to the official list, the recommendations set by the ASX Corporate Governance Council. If| | |the entity does not intend to follow all the recommendations on its admission to the official list, the | | |entity must identify the recommendations that will not be followed and give reasons for not following | | |them. | | |An entity which will be included in the SP All Ordinaries Index on admission to the official list must | | |have an audit committee. If the entity will be in the SP, or ASX 300 Index on admission to the official | | |list, it must also comply with the best practice recommendations set by the ASX Corporate Governance | | |Council in relation to composition, operation and responsibility of the audit committee. | |Criterion 10 |The entity must have a trading policy that complies with ASX listing rule 12. 9. |Criterion 11 |The entity seeking admission to the official list and quotation of securities must pay the fees set and | | |published by ASX. It must do so when and in the manner that ASX specifies. | 5 The disclosure obligations during the fundraising p eriod and after while the company is operating Continuous Disclosure—ASX Listing Rule19 imposes a general obligation on listed companies to disclose material information as well as requiring the release of specific information. The general disclosure obligation requires companies to immediately release to the market any information which a reasonable person would expect to have a material effect on the price or value of its shares. There are some specific exceptions (â€Å"carve out† provisions) with regard to providing confidential information. ASX may also require a company to provide information for release to the market in order to correct or prevent a false market. As a guide, a false market is a market trading on incorrect or incomplete information, regardless of the source of the information. ASX has developed an innovative method for companies to make announcements to the market via a secure and dedicated extranet called ASX Online, Venture can electronically lodge your announcements in either free text or template format. In order to ensure the company complies with its obligation of timely disclosure of such information, Venture must adhere to the following practices: Venture must disclose price sensitive information to the ASX firstly as soon as it becomes aware of the information; and all information disclosed to ASX is promptly placed on the company’s website following receipt of conf irmation from ASX. †¢ Venture must ensure that the information is not false, misleading or deceptive so as to avoid creating what would constitute a false market; and †¢ Venture must ensure that the information is disclosed clearly (expressed objectively), accurately and is complete20. Puffery, imprecise or confusing language such as â€Å"double digit†21growth must be avoided. Periodic Disclosure—in addition to continuous disclosure obligations, ASX listed companies are required to submit certain reports at regular intervals: Half Yearly Reports; Preliminary Final Reports; Annual Reports; and Quarterly activities and cash flow reports (certain companies only). Periodic disclosure is made to ASX’s company announcements office. And also ASX requires an annual report to be sent to holders of ordinary securities and preference securities. The annual report must contain the additional information22, for example: †¢ A statement disclosing the extent to which the entity has followed the recommendations set by the ASX Corporate Governance Council during the reporting period. †¢ The names of substantial holders in the entity, and the number of equity securities to which each substantial holder and the substantial holder’s associates have a relevant interest, as disclosed in substantial holding notices given to the entity. The number of holders of each class of equity securities. †¢ The voting rights attaching to each class of equity securities. †¢ A distribution schedule of the number of holders in each class of equity securities †¢ The name of the entity’s secretary. †¢ The address and telephone n umber of the entity’s registered office in Australia; and of its principal administrative office, if the two are different. †¢ A review of operations and activities for the reporting period. †¢ Whether there is a current on-market buy-back. CONCLUSION Becoming a public company listed on ASX means much more than just complying with the stringent requirements of issuing a prospectus. The general law and specific statutory and regulatory provisions impose continuing duties and requirements on public listed companies and their subsidiaries which differ from those imposed on private companies. To be a public listed company is an excellent approach for Venture to expanding its scale of business and increasing its capital in order to achieve the shareholders’ great ambitions. However, being publically listed is not a walkaway, or breeze for Venture. In the way of transferring, Venture has to make a spectrum of changes in its organizational structure, constitutional matters, business structure etc. to meet the standards of relevant rules and regulations, which will cost them a huge of manpower, materials resources and funds. And also after the transferring, Venture has to follow more stringent operating criteria and disclosure rules according to ASX Listing Rules and Corporations Act. Anyway getting publicly listed will make Venture obtain more benefits than detriments and losses and will improve its corporate image and profile, which lets Venture have more opportunity to get access to more economic benefits and regulates it to be a responsible corporate citizen for the whole public.

Donatellos Bronze David essays

Donatellos Bronze David essays Thesis: Donatello was one of the most important fifteenth century masters whose bronze David is an enigma that is unlike Donatellos other works in its different style, and unknown time of origin. Donatello was a gifted sculptor who lived in the fifteenth century and had a great impact on not only the Italian Renaissance, but also on the future of art in general. He was an innovator in his time and his sphere of influence enveloped all those around him. Donatello was one of the most important fifteenth century masters whose bronze David is an enigma that is unlike Donatellos other works in its different style, and unknown time of origin. First, Donatellos talents and credentials will be discussed. Secondly, points about Donatellos classical style in the sculpting of David and other artists thoughts about its classical style will be gone over. Next, the different thoughts on the time of Davids creation will be discussed. Lastly, the main ideas will be summarized and brought to a conclusion. Donatello has earned his place in history. Donatello was not only one of the most important artists in the fifteenth century, but also one of the most brilliant and representative figures of the Italian Renaissance for he gave visible form...to the intellectual aspirations and achievements of his epoch (Cruttwell 2). Not only was he a great sculptor, but also a leader of the artistic movement of the time. He was equally gifted in the elements of the antique and of modern sentiment, able to blend them seamlessly in his work. He also had the appreciation of external life peculiar to the Greek and Roman civilizations, with its robust self-reliance and enjoyment of sensuous emotions, and the comprehension of, and respect for, the inner workings of the soul, inherited from the severe, often morbid, self-analysis of medieval Christianity (Cruttwell 3). Donatello was able to work with any med...

ASC Research F Essay Example | Topics and Well Written Essays - 1000 words

ASC Research F - Essay Example The rationale behind treating this division as discontinued operation and held for sale has been discussed here and reporting of the position of financial statement for such division has been explained. A component of an entity can be considered discontinued operation if it does not have any involvement with the operation of the component after the disposal transaction. The sale of such asset or disposal group is probable or likely to occur and the transfer of such asset is expected to qualify for recognition as a complete sale within one year. Again the sale has been actively marketed at a reasonable price in relation to its current fair value. The period in which such transaction has occurred, the income statement of a business entity or statement of activities for not-for-profit entity (NFP) for current and prior periods should report the result of operation of component along with the gain or loss recognized in discontinued operations. The result of operation of a component of an entity either been disposed of or classified as held for sale will be reported in discontinued operations on the fulfilment of following conditions: On occurrence of the disposal transaction, the operation and cash flow of the component is required to be eliminated from the continuing operations of entity. Further, the entity is not required to have continuing involvement with the operation of the component after such disposal transaction. In a period in which the component of entity which has been disposed of or classified as held for sale, the income statement of the business entity or statement of activities of not-for-profit (NFP) entity should have the result of operation of component and gain or loss incurred in discontinued operations. The result for discontinued operation less income taxes applicable should be reported as a separate component of income before extraordinary items. Any adjustment to any amounts that has been previously reported under discontinued operations a nd is directly related to the disposal transaction in prior period is required to be separately classified under discontinued operations in current period. Such type of adjustments may arise in circumstances like resolution of adjustment of purchase price, retaining of product warranty and environmental obligations by seller, settlement of obligations of employee benefit plan provided the settlement should be related directly to the disposal transaction if there is a demonstrated relationship of direct cause and effect and the disposal should occur within one year following the disposal transaction unless delayed by circumstances beyond the control of entity. The business memorandum entailing the underlying principle for mining division of ABC Company which is to be sold off has been enclosed. BUSINESS MEMORANDUM ABC COMPANY MEMORANDUM TO: MATT ROGERS, CFO FROM: STAFF ACCOUNTANT DATE: 6/3/2013 SUBJECT: REPORTING OF MINING DIVISION INTRODUCTION It is known that ABC Company having six major divisions has recently decided to sell off its mining division. The company is actively seeking a buyer and has priced the division at fair value of the division’s assets and liabilities and it expects that the division will be sold during the next fiscal year. However, the division has been considered an operating segment; this memorandum entails the details of reporting the mining division in financial statement. BODY Research has been made on this issue from Accounting

Criminal Justice Problems Essay Example | Topics and Well Written Essays - 500 words

Criminal Justice Problems - Essay Example However, all is not lost yet. . One of the best ways t o exert a crease on such occurrences, is through education. Education helps refine children and their thinking processes. Since they can be moulded easily and brought into a certain fold, imparting education to juveniles is necessary. By doing so, delinquency rates can experience a dip, while also facilitating the rehabilitation of juveniles who have been led on to the wrong path. This paper attempts to explore the justification of juvenile crime and to seek a better mode of addressing the issue, rather than mere punishment as justice. Education can play an important role in helping the juvenile return to normalcy and achieve success, by changing his pattern of thinking, infusing a sense of tolerance and optimism, and by helping them emerge out of a pessimistic and criminal mindset. This can be done by following policies and programmes in schools and juvenile rehabilitation centres, in order to help juveniles overcome their psychological problems, first and then to help them adapt to leading a life of normalcy and success. Next, the interaction between studen

CCI - Capturing the benefits of innovation Essay

CCI - Capturing the benefits of innovation - Essay Example It opened doors for â€Å"green innovation† that extorted the companies to learn about the new technologies on the concepts of recycling, minimizing noise and water pollution and carve innovative useful ideas for the betterment of humanity. This gave rise to ravishing inventions, for example Scandinavian automobile company came up with the idea of â€Å"electric cars† when they tried to sought out this problem and their company got a huge boost in the market and got profitable. Similarly BMW started working on land fill gas stations in their plant at Spartanburg (USA), the results were depicted very soon and BMW gained huge economic gains having â€Å"good will† being the top most. Joint solutions limited (JSL) is a spectacular case study regarding effect of knowledge on companies. JSL has been using pre defined techniques in the field of Orthopedics for many years but they are making serious researches about the new evolution of â€Å"tissue engineering† that will positively enhance their market value.

Ageism at work

Ageism at work INTRODUCTION Ageism can be defined as any attitude, action, or institutional structure which subordinates a person or group because of age or any assignment of roles in society purely on the basis of age (Traxler, 1980, p. 4). As an ism, ageism reflects a prejudice in society against older adults. Ageism, however, is different from other isms (sexism, racism etc.), for primarily two reasons. First, age classification is not static. An individuals age classification changes as one progresses through the life cycle. Thus, age classification is characterized by continual change, while the other classification systems traditionally used by society such as race and gender remain constant. Second, no one is exempt from at some point achieving the status of old, and therefore, unless they die at an early age, experiencing ageism. The later is an important distinction as ageism can thus affect the individual on two levels. First, the individual may be ageist with respect to others. That is s/he may stereotype other people on the basis of age. Second, the individual may be ageist with respect to self. Thus, ageist attitudes may affect the self concept. Much research has been conducted concerning ageism. However, the empirical evidence is inconclusive. Some research demonstrates the existence of ageist attitudes (Golde Kogan, 1959; Kastenbaum Durkee, 1964a, 1964b; Tuckman Lorge, 1953) and other research does not (Brubaker Powers, 1976; Schonfield, 1985). This discrepancy is most likely the result of methodological differences and, in particular, methodological errors. A brief discussion of the major methodological errors or problems found in ageism research may be helpful in clarifying this point. The first major problem is that the majority of ageism research suffers from a mono-method bias. In other words, each study used only one method to operationally define the ageism construct. Methods commonly used have included sentence completion (Golde Kogan, 1959), semantic differential (Kogan Wallach, 1961; Rosencranz McNevin, 1969), Likert scales (Kilty Feld, 1976), and adjective checklists (Aaronson, 1966). The problem inherent in the use of a mono-method is that any effect found may be an artifact of the method employed rather than the construct under study. Thus, a researcher should employ more than one method to look for consistency in the results. Another problem, according to Kogan (1979) is the use of within-subjects designs in ageism research. In other words, a subject will be asked to complete a questionnaire regarding both younger and older adults. Kogan asserts that by using this methodology, age is pushed to the foreground of a subjects mind. The subject thus becomes aware that the researcher is looking for age differences. Therefore, age differences are found. The use of primarily younger populations to study ageism represents another problem with ageism research. The majority of ageism research uses children, adolescents, or young adults as subjects and examines their perception of older adults. Only a few studies have examined the perceptions of the population whom the construct affects most older adults. Those studies which have used an older subject population have unfortunately used primarily institutionalized individuals as subjects (Kastenbaum Durkee, 1964a; Tuckman Lavell, 1957). Therefore, they do not represent the vast majority of older adults. Another problem with much of ageism research is that it only examines the negative stereotypes of old age. More recent studies have suggested that while attitudes toward the aged are increasingly positive, they are still stereotypic (Austin, 1985). Therefore, ageism has been expanded to include positive stereotypic images. However, these are rarely studied (Brubaker Powers, 1976). Two additional problems are primarily theoretical in nature. First, ageism research rarely examines or attempts to understand the causes of ageism. Thus, while much theoretical work has been conducted concerning the factors contributing to ageism, little empirical research has been conducted in this area. Second, ageism research rarely examines the interaction between ageism and other isms. As many individuals are in a position to experience more than one prejudice, the interaction between these prejudices needs to be examined. The Theoretical Basis of Ageism Ageism consists of a negative bias or stereotypic attitude toward aging and the aged. It is maintained in the form of primarily negative stereotypes and myths concerning the older adult. Traxler (1980) outlines four factors that have contributed to this negative image of aging. Each will be discussed below. The first factor that is postulated to contribute to ageism is the fear of death in Western society. Western civilization conceptualizes death as outside of the human life cycle (Butler Lewis, 1977). As such, death is experienced and viewed as an affront to the self. Death is not seen as natural and inevitable part of the life course. This can be contrasted with Eastern philosophy where life and death are all part of a continuous cycle. Death and life are inextricably woven together and the self continues throughout. To be a person, in Western society, however, means that one must be alive and in control of the events of one1s life. Therefore, death is feared. As death is feared, old age is feared; death and old age are viewed as synonymous in American society (Kastenbaum, 1979). Kastenbaum (1973) hypothesizes that ageism attitudes and stereotypes serve to insulate the young and middle-aged from the ambivalence they feel towards the elderly. This ambivalence results from the fact that the older adult is viewed as representing aging and death. Butler (1969) states: Ageism reflects a deep seated uneasiness on the part of the young and middle-aged a personal revulsion to and distaste for growing old, disease, disability; and a fear of powerlessness, uselessness, and death ((p. 243). This represents the most commonly argued basis for ageism. The second factor postulated by Traxler (1980) to contribute to ageism is the emphasis on the youth culture in American society. For example, the media, ranging from television to novels, place an emphasis on youth, physical beauty, and sexuality. Older adults are primarily ignored or portrayed negatively (Martel, 1968; Northcott, 1975). The emphasis on youth not only affects how older individuals are perceived but also how older individuals perceive themselves. Persons who are dependent on physical appearance and youth for their identity are likely to experience loss of self-esteem with age (Block, Davidson, Grumbs, 1981). The emphasis in American culture on productivity represents the third factor contributing to ageism in American culture (Traxler, 1980). It should be noted that productivity is narrowly defined in terms of economic potential. Both ends of the life cycle are viewed as unproductive, children and the aged. The middle-aged are perceived as carrying the burdens imposed by both groups (Butler, 1969). Children, however, are viewed as having future economic potential. In a way, they are seen as an economic investment. Economically, older adults are perceived as a financial liability. This is not to say that older adults are unproductive. However, upon retirement, the older adult is no longer viewed as economically productive in American society and thus devalued. The fourth factor contributing to ageism in American society and the so-called helping professions is the manner in which aging was originally researched. Poorly controlled gerontological studies have reinforced the negative image of the older adult. When aging was originally studied, researchers went to long-term care institutions where the aged were easy to find. However, only 5 percent of the older population is institutionalized. Thus, the early research on the aged and aging was based upon non-well, institutionalized older individuals. There is still a need for more research to be undertaken using a healthy, community-dwelling older population. The factors cited above represent four contributing factors to ageism. It has been proposed that individual ageist attitudes can be decreased through continual exposure to and work with older adults (Rosencranz McNevin, 1969). However, there appears to be a large societal influence on ageist attitudes. Therefore, until these societal influences are addressed, ageism can not be obliterated. For example, if the fear of death and therefore aging is not somehow addressed societally, then younger individuals will continue to attempt to make the older population somehow different from themselves. This differentiation of themselves from older adults, thus serves to protect them from the reality of death. DISCRIMINATION AT WORK PLACE The number of people claiming to have faceddiscrimination at workbecause of their age has more than tripled in a year, according to official statistics. Figures released by the Tribunal Service show that claims rose from 962 in 2006 to 2,940 in 2007. The figures come just days after Selina Scott reached a settlement with Channel Five, thought to be worth  £250,000, after claiming she had been the victim of ageism. The 57-year-old presenter sued the broadcaster after claiming she had been lined up to provide maternity cover for Natasha Kaplinsky on Five News but was subsequently overlooked. The figures will reinforce the belief among solicitors that the number of age-related cases will soar over the next few years. Legislation outlawing age discrimination was introduced three years ago, and Melanie Thomas, a solicitor at discrimination law specialists Palmer Wade, said: It takes a while for people to understand that they have new rights. Other figures show that there were 1,032 age discrimination claims in tribunals between April and June, compared with 700 claims in the same period last year. In 2007, the average payout for successful age discrimination cases was  £8,695, compared with  £10,044 for sex discrimination and  £17,308 for race claims. Meanwhile, some people have tried to exploit the laws to their own advantage. Margaret Keane, 50, applied for a series of jobs for recently qualified chartered accountants and, after failing to get any, tabled compensation claims on the grounds of age discrimination. Gillian Shaw, a solicitor at employment law specialists Ledingham Chalmers LLP, said: There is a financial incentive for claimants to look for an alternative to a straightforward claim of, say, unfair dismissal because age discrimination, like sex and race discrimination, does not have an upper limit on the amount of compensation that can be claimed. Scott argued that Channel Five had backed out of a  £200,000 presenting deal because they felt she was too old, choosing Isla Traquair, 28, instead. A string of former BBC faces including Kate Adie and Anna Ford joined forces to accuse television of discriminating against mature women. Dame Joan Bakewell claimed the medium was dominated by the hideously young. In an interview in todays Observer, Ford claims women suffer the most. Ageism against women, she adds, is a peculiar British tradition. In America, there are women with white hair who are heads of banks, heads of corporations, she said. Where are those women here? The latest government figures, released earlier this year, showed that the pay gap between men and women had widened for the first time in years. The new Equality Bill is due to be presented to Parliament this spring, and not a moment too soon, according to the Equality and Human Rights Commissions fifth annual Sex Power report, which recorded a drop for the first time in women attaining top jobs. In 12 out of 25 job categories, it found fewer women in top posts than in 2007. Ageism at work in later life There is a commonly assumed view that ageism affects only a small minority of older people in the UK. The popular television character Victor Meldrew from One Foot in the Grave perfectly captures the stereotype of a grumbling man in later life, stuck in his ways, resistant to change, baffled by technology and distanced from the views and activities of young people. Yet, when examining the issue of ageism, it becomes clear that as with all stereotypes this image is flawed. Ageism affects a wide age group, of both genders and all backgrounds. According to a MORI Social Research Institute poll, ageism tops the list of UK discrimination in the workplace. Over one in five people (22%) interviewed by MORI felt they had been unfairly discriminated against in the work environment. 38 per cent of those who were discriminated against cited age as the most prevalent form of discrimination. Of those who believed they had personally encountered ageism in the workplace, just over half said they were discriminated against because they were too old, however the remaining half claimed to have received unfair treatment for being too young. Estimated cost to the economy of this form of discrimination ranges from  £16 billion to  £31 billion.These figures are shocking but statistics alone cannot account for the social or personal impact that ageism has on individuals and society at large. The government Age Positive Campaign is insistent that attitudes must change. By 2010 nearly 40 per cent of the working population will be over 45. Supporting this cultural shift, legislation preventing ageism in the workplace will be in place in the UK by 2006. But what the government really wants is change here and now. More and more employers in the public and private sector are convinced by the business case of employing a mixed age workforce. They know that Age Positive can result in operational, market and revenue gains. Mixed age workforces are proven to provide employers with a wider available skills base, improved productivity, better morale, increased customer loyalty, greater market share and increased shareholder wealth. METHODOLOGY Todays report by the Employers Forum on Age (EFA), which surveyed 1,000 workers over the age of 16, claims discrimination against older and younger employees remains rife in the workplace. It found that 61 per cent of respondents had witnessed ageist behaviour at work, and half did not know about legislation which would make this illegal. The survey also shows that young and old people could lose out on pay rises and promotions as a result of their age 31 per cent said they had seen older people paid more for doing exactly the same job as a younger employee. Almost a quarter 23 per cent recalled an older worker being promoted even if the younger candidate had more experience. EFA director Sam Mercer commented: As our research has confirmed, ageism is endemic in our society and rife in our workplaces. These attitudes need to be challenged and outlawed so that they become as unacceptable as sexism or racism. Although Mr Mercer said the new laws, which will come into force on Sunday, will help provide protection for people who feel that they have been discriminated against on grounds of their age, he added the change in legislation was just the beginning of a long jour ney towards tackling social prejudices. A spokesman for the Department for Work and Pensions told politics.co.uk the government was committed to ensuring equality at work. He noted that in the past year 208,000 more people aged over 50 are working, claiming the evidence suggests there are many businesses which are keen to harness the skills and experience older workers can bring. He added: We know the practice of ageism is bad for business and the new legislation will ensure that older workers are protected and ageism is stamped out. The governments Age Positive campaign, which sees businesses supplied with an age toolkit, involves working with a wide range of UK businesses to help them recognise the benefits of older workers such as reduced recruitment costs, higher retention rates, greater flexibility, higher productivity, and a broader range of skills and experience, he said. The government will consider whether to keep the compulsory retirement age, currently at 65 for men, or to abolish it at a formal review in 2011. The EFA report comes in the wake of a separate survey for the charity Help the Aged, which finds only 42 per cent of the 1,000 people questioned were aware of the new laws on age discrimination. It also showed that older people still feared ageism at work, and called on the government to ensure older employees knew their rights Age discrimination is still rife, and urgent legislation is needed to stamp it out, a survey has said. EXAMPLES Ageism also happen in sports like there is an example of Pakistani team coach Intikhab Ageism doesnt bother Pakistan coach KARACHI: Pakistan cricket team coach Intikhab Alam on Tuesday brushed aside negative criticism from those demanding his removal because of hisage, saying the campaign was motivated by jealousy. The 67-year-old guided Pakistan to the World Twenty20 title in England in June but Tests and One-day defeats on the Sri Lankatourlast month prompted former players to brand his old age a hindrance in proper coaching. But Alam brushed aside the flak. If there is healthy criticism I take it in a positive way, but targeting my age is negative thinking and I smell jealousy from this, said Alam on the sidelines of Pakistan teams training camp. The five-day camp is the final phase of Pakistans preparations for the elite eight-nationChampions Trophyto be played in South Africa from September 22-October 5. Alam said the same people who were pointing finger at his age were praising him a few months ago. I feel sorry for such people who have a personal vendetta against me, said Alam, who was also credited for Pakistans success in the 50-over World Cup in Australia in 1992. They cannot digest our T20 success. Former captain Aamir Sohail last week criticised Alam for being too old to handle coaching at international level. Former PakistanCricketBoard chief Tauqir Zia also joined Sohail in targeting Alams age, saying Pakistan needs a young coach to guide them to more successes. Alam, however, insists he is fit. I even take part in coaching drills and my age has never been a hindrance in my work. Coaching is all about experience and football coaches worldwide are over 70 years of age but no one speaks against them, said Alam. CONCLUSION According to an ICM poll for Age Concern, nearly one third of people know someone who has been a victim of age discrimination at work. Age discrimination is so widespread that 70% of people believe that ageism still occurs, the same as when a similar survey was conducted in 1998. Another one-in-10 people said that they have experienced discrimination by the NHS, health insurance companies, and been turned down for financial products because of their age. Too old Age Concern criticised employers and companies for failing to tackle ageism and the governments voluntary Code of Practice on age diversity in employment, which was published in 1999. Gordon Lishman, director general of Age Concern England, said: The governments voluntary code clearly isnt working. Comprehensive legislation is needed now, not just to cover the workplace but many other sectors of life. In November 2000, the government adopted a European Union directive, which outlaws age discrimination at work. It must now introduce legislation which supports the directives principles by 2006. Political voice Age Concern has also announced plans to offer older people membership of the charity, to strengthen its campaigning work. Mr Lishman, said: It will give older people the opportunity to directly influence policy makers and force the age issue higher up the political agenda. There are between 700,000 and 1m people in the UK who are aged between 50 and 64 and are unemployed or economically inactive. BIBLOGRAPHY BBC INDIATIMES http://www.india-seminar.com/2000/488/488%20srivastava.htm

Witchcraft And Effects On Lite :: essays research papers

Witchcraft is a phenomenon that has captured the minds of millions since the beginning of history. These so-called witches have caused fear, hatred, interest, widespread panic, and a variety of other emotions in other people from all over the world. Every society and civilization on this planet have all some form of witchcraft in their history. Witchcraft itself has a deep history of its own causing it to be recognized in literature and modern society.   Ã‚  Ã‚  Ã‚  Ã‚  First, witchcraft has a very fascinating history, which is fairly important to discuss. Because much of its history is shrouded in superstition and has not properly been recorded, its exact history is hard to explain. It is easier to see witchcraft as a mindset or belief than an organized institution. According to Montague Summers, 'witches can be described as heretics and anarchists,'; most of which follow the chief of demons, also known as the Devil. Obviously Mr. Summers, along with many other people, takes a pessimistic view towards the realm of witchcraft. Among these anti-witch enthusiasts was Henry VIII, who was the first king of England to pass Statute against the practice of witchcraft. Many kings who ruled after Henry VIII also created statutes against witchcraft. James I made one in 1604, which was repealed over a century later in 1736. Throughout the centuries in England, strict laws and numerous trials were held against suspected witches. Some of the more notable trials include the Chelmsford trials in 1566, 1579, and 1589, the trials in Lancashire in 1612, and the Staffordshire trials in 1597. Some cases even tried people posing as witches like Thomas Darling, John Smith, and William Perry. Many books had been written at the time about the subject of witchcraft like Demonology, Discovery of Witches, Discovery of Witchcraft, and Dr. Lamb's Darling. (Wysiwyg://7/http://www.geocities.com/Athens/2962/witchcraze/time_england.html)   Ã‚  Ã‚  Ã‚  Ã‚  Second, witchcraft is recognized around the world through its appearance in literature. Many well-known examples of a wide variety of witches can be found throughout literature. Many of these literary works include The Wizard of Oz, which not only has one witch but two: Glenda the Good Witch and The Wicked Witch of the West. These two witches seem to represent some of the many views of witches. Glenda takes on the view of a fairy godmother, a type of witch that only has good intentions and poses no harm to anyone. But, wicked witch poses as the stereotypical halloweenish view of a witch: an old, ugly, ill-hearted, broomstick riding, spell-casting, evil, maniacal woman.

Tweleve Years a Slave

While reading this novel, I often thought about what I learned about slavery in school and the many films I've seen on the subject, most notably, the television series Roots , which is probably most of our first visual representation of a slaves' life – but I thought, â€Å"Noooo, they got it wrong! Slavery was 50 times worst than any representation I've ever seen on a film. Solomon Northup, was a free born, African America man living in New York state in the early 1800s. He had a wife, three children, and was able to provide for his family working various jobs, depending on the season. Solomon is kidnapped and forced into slavery for 12 years, in the deep south. What makes this novel so compelling is his story telling.He goes into great detail explaining what is feels like to be a slave; the constant state of fear (scared of waking up late, scared of not working fast enough, scared of being in the wrong place at the wrong time if your master is in an angry mood), the whipp ings (which happened more often than I originally thought), the brutal labor, the little food (yet being forced to work at 100% at all times with little nourishment), and the depressing feeling of being separated from your family (being sold to another master was the worst nightmare of most slaves, more fearful than the whip).His prose paints a clear picture of what it feels like to be a slave. I highly recommend this non-fiction novel (did I mention, this is a TRUE story) to any and everyone interested in American or African American history. This novel is currently being made into a film by director Steve McQueen, starring Chiwetel Ejiofor, Brad Pitt, Benedict Cumberbatch, Michael Fassbender.I have to admit, I am very eager to see this film (it's slated for release Sept. 6, 2013) because I'm curious to see if they will be true to the original work, and go hard and showcase slavery in its most brutal form, even if it will make audiences uncomfortable, because as time goes on, I t hink we forget how truly horrible an institution slavery was.

Prehistoric Semi-Subterranean Winter Houses

Prehistoric Semi-Subterranean Winter Houses The most common form of permanent housing in the prehistoric period for arctic regions was the semi-subterranean winter house. First built in the American arctic about 800 BC, by the Norton or Dorset Paleo-Eskimo groups, semi-subterranean houses were essentially dugouts, houses excavated partially or completely below the ground surface to take advantage of geothermal protections during the harshest of climates. While there are several versions of this form of house over time in the American arctic regions, and in fact there are several related forms in other polar regions (Gressbakken Houses in Scandinavia) and even in the great plains of North American and Asia (arguably earth lodges and pit houses), semi-subterranean houses reached their highest pinnacle in the Arctic. The homes were heavily insulated to ward off the bitter cold, and constructed to maintain both privacy and social contact for large groups of people despite that harsh climate. Construction Methods Semi-subterranean houses were built of a combination of cut sod, stone, and whalebone, insulated with sea mammal or reindeer skins and animal fats and covered with a bank of snow. Their interiors possessed cold-traps and sometimes dual seasonal entrance tunnels, rear sleeping platforms, kitchen areas (either spatially discrete or integrated into the main living area) and various storage areas (shelves, boxes) for stowing food, tools and other household goods. They were large enough to include members of extended families and their sled dogs, and they were connected to their relatives and the rest of the community via passageways and tunnels. The real genius of semi-subterranean homes, however, resided in their layouts. At Cape Espenberg, Alaska, a survey of beach ridge communities (Darwent and colleagues) identified a total of 117 Thule-Inupiat houses, occupied between 1300 and 1700 AD. They found the most common house layout was a linear house with one oval room, which was accessed by a long tunnel and between 1-2 side spurs used as kitchens or food-processing areas. Layouts for Community Contact A substantial minority, however, were multiple large-roomed houses, or single houses built side-by-side in groups of four or more. Interestingly, the house clusters, with multiple rooms and long entrance tunnels are all more common attributes at the early end of occupation at Cape Espenberg. That has been attributed by Darwent et al. to a shift from a dependence on whaling to localized resources, and the transition to a sharp downturn in climate called the Little Ice Age (AD 1550-1850). But the most extreme cases of below-ground communal connections in the Arctic was during the 18th and 19th century, during the Bow and Arrow Wars in Alaska. The Bow and Arrow Wars The Bow and Arrow wars were a long-lasting conflict between different tribes including the Alaskan Yupik villagers. The conflict could be compared to the 100 Years War in Europe: Caroline Funk says it imperiled lives and made legends of great men and women, with a range of conflicts from deadly to merely threatening. Yupik historians do not know when this conflict started: it may have begun with the Thule migration of 1,000 years ago and it may have been instigated in the 1700s by competition for long distance trading opportunities with the Russians. Most likely it began at some point in between. The Bow and Arrow Wars ended at or just prior to the arrival of Russians traders and explorers in Alaska in the 1840s. Based on oral histories, subterranean structures took on a new importance during the wars: not only did people need to conduct family and communal life inside because of weather demands, but to protect themselves from attack. According to Frink (2006), historic period semi-subterranean tunnels connected the members of the village in an underground system. The tunnels - some as long as 27 meters - were formed by horizontal logs of planks shored up by short vertical retainer logs. Roofs were constructed of short split logs and sod blocks covered the structure. The tunnel system included dwelling entrances and exits, escape routes and tunnels that linked village structures. Sources Coltrain JB. 2009. Sealing, whaling Journal of Archaeological Science 36(3):764-775. doi: 10.1016/j.jas.2008.10.022and caribou revisited: additional insights from the skeletal isotope chemistry of eastern Arctic foragers. Darwent J, Mason O, Hoffecker J, and Darwent C. 2013. 1,000 Years of House Change at Cape Espenberg, Alaska: A Case Study in Horizontal Stratigraphy. American Antiquity 78(3):433-455. 10.7183/0002-7316.78.3.433 Dawson PC. 2001. Interpreting Variability in Thule Inuit Architecture: A Case Study from the Canadian High Arctic. American Antiquity 66(3):453-470. Frink L. 2006. Social Identity and the Yupik Eskimo Village Tunnel System in Precolonial and Colonial Western Coastal Alaska. Archeological Papers of the American Anthropological Association 16(1):109-125. doi: 10.1525/ap3a.2006.16.1.109 Funk CL. 2010. The Bow and Arrow War days on the Yukon-Kuskokwim . Ethnohistory 57(4):523-569. doi: 10.1215/00141801-2010-036delta of Alaska Harritt RK. 2010. Variations of Late Prehistoric Houses in Coastal Northwest Alaska: A View from Wales. Arctic Anthropology 47(1):57-70. Harritt RK. 2013. Toward an archaeology of late prehistoric Eskimo bands in coastal northwest Alaska. Journal of Anthropological Archaeology 32(4):659-674. doi: 10.1016/j.jaa.2013.04.001 Nelson EW. 1900. The Eskimo about Bering Strait. Washington DC: Government Printing Office. Free download

Analytical Essay Sample on #8220;A Very Old Man with Enormous Wings” by Gabriel Garcia Marquez

Analytical Essay Sample on #8220;A Very Old Man with Enormous Wings† by Gabriel Garcia Marquez The short story â€Å"A Very Old Man with Enormous Wings† by Gabriel Garcia Marquez exposes the tendencies of human nature and society in general. The reactions of all the members of the community to the events in the story reflect their inclinations as human beings, both good and bad. Pelayo lives in rural area with his wife and child. One afternoon he was shocked to find that a very old man with wings was lying face down in the mud in his courtyard. At first he was frightened and ran to retrieve his wife to see what she would make of it. Upon her arrival they had both stared at the man together in a mute stupor for quite some time. This is a typical reaction from most people in such a situation. At first they were in a state of fear, fear of the unfamiliar. When people are exposed to a scenario that is out of the ordinary for them and conflicts with their everyday lives they grow afraid and even hostile. Then a stage of curiosity follows, Pelayo and his wife quietly observe the man from a distance as to gather any information they can about him. After observing the man who seemed frail and uncivilized they decide to call upon a neighbour who might be knowledgeable in such situations. She wasted no time in proclaiming that he must be an â€Å"angel†. Her re action to the man with wings was influenced purely by her faith. Her blind assumption was made because of what she has been taught and what she wanted to believe. This is typical of people who are very religious as they tend to interpret various events as having a deeper more meaningful significance. â€Å"The angel was held captive in Pelayo’s house.† (Marquez 487) Marquez’s choice of words reflects her intention to show Pelayo’s hostility towards the angel. He also watched over him all afternoon with a bailiff’s club. He is obviously uncertain of the angel and decides to imprison him and take no chances. He does not think very much of the angel because he â€Å"drags† him into in a chicken coop and locks him up among the hens. This act demonstrates basic human nature, the angel was old, unattractive, and decrepit, so he tosses him in a filthy coop. Pelayo judges him solely on his appearance, had the â€Å"angel† looked like an angel is supposed to like and had been all white, attractive, and sophisticated, Pelayo would most likely honour and respect him rather than treat him like an animal. Pelayo even considered putting him on a raft and leaving him to die on the high seas. The members of the community quickly learned of this â€Å"angel† that has been found and they became very interested. â€Å"The simplest among them thought that he should be named mayor of the world. Others of sterner mind felt that he should be prompted to the rank of five-star general in order to win all wars. Some visionaries hoped that he could be put to stud in order to implant on earth a race of winged wise who could take charge of the universe.† (Marquez 488) This shows the hopes and expectations of the members of the community. Many had dreams of grandeur and had relied on this angel to put an end to all worldly problems as if he was sent down from god. These expectations however were not rational, they were merely based on their own beliefs and the hype that this angel had generated. Human beings in general are always looking for the easy way out and the simplest way to get a means to their end. This angel served as the answer they had all hoped for. As the story moves forward the people of the town come to realise that this angel was not at all what they had expected nor hoped for. They have grown hostile towards him, they had begun pulling out his feathers, throwing stones at him, or even burning him with an iron. This type of reaction is not unusual in such a situation, they have grown bored of this angel as he does nothing but lie still and try to make himself comfortable. This type of behaviour is exemplified in everyday life in the case of celebrities. As entertainers they keep us amused and fulfill our needs, but when their product turns stale or their songs get played out we lose interest and turn against them. We see this everyday on late night television where hosts poke fun at such celebrities, recently we have seen what the media hype has done to Michael Jackson’s reputation. Meanwhile the carnival has come into town and suddenly everyone has forgotten about the angel and stopped caring. Why see the angel when you can see the tarantula woman? Something bigger and better has arisen and the people of the community have moved on to the next big thing. Why do people act the way they do? Is it selfishness? It is a fact that man’s greatest goal is his own happiness, therefore he can sometimes be insensitive to the people that he walks all over in order to achieve it. Altruism is possible, but even then man gains some satisfaction from his unselfish act, which contributes to his happiness. The society in this short story perfectly reflects human nature and how it sometimes can be ugly. However, for the most part individuals are able to differentiate what is and is not moral and act decently.

St Francis of Assisi and Abraham Essay Example | Topics and Well Written Essays - 750 words

St Francis of Assisi and Abraham - Essay Example He began to think about a career in the military seriously. During his tenure in the military, He was affected by many dreams which led him to think seriously about eternal life. Francis slowly began to lose interest in the wordily life and soon submitted his life for the sake of lord and the poor (Knight). Abraham is considered a s the father of Judaism, Christianity and Islam. Abraham is considered as a hero who has stood the test of time. His name is honoured all over the world. The story of Abraham is a fascinating one. It is filled with challenges, travels and great drama. When we look back to his life, we can see that he had an absolute certainty that there is only one God. More than that, another aspect in Abraham's life is his kindness. Abraham was an entertainer for the travelers. His tent was always open for the travelers. He would even interrupt the lord for the sake of the travelers. His kindness towards others is renowned. He was born into a world where the holy one was forgotten. He questioned his father's deeds because of idol worship. Abraham always carried a conviction that something is wrong with his fathers reasoning as well as his family and his neighborhood. He had absolute belief in the creator that could neither be seen, touched, or encompassed. When the lord spoke to him about leaving his home, he complied ecstatically (Peltz). On comparing the lives of Abraham and St Francis, we can see some similarities. Both were born to wealthy business families. And later was thrown out of their families for speaking against the traditions. Both of these personalities threw their worldly life on the behest of the lord. In the case of Abraham, God directly spoke to him about the endeavors he had to undertake in the future. Whereas in the case of Francis, god spoke to him through dreams. Both these persons undoubtedly are super stars in their own sense. Abraham forgot not only his country and acquaintances, but also his father's house, to go to a terrain which lord had shown him by heavenly stimulation. Pushing to the side any barrier, he pushed on to win the price of his divine call. Conforming himself to him who, though wealthy, for our sake became underprivileged, he relieved himself of a serious weight of material belongings so as to pass easily through the contracted door. He dispersed his affluence to the poor so that his righteousness might continue everlastingly. This is absolutely true as in the case of St Francis. He too rebelled against his father after a divine call was received by him from the lord. Throwing away wealthy possessions and embracing the poor and the downtrodden was more enjoyable for Francis rather than enjoying the pleasures of the world once he lived upon. Even though there are lots of similarities between the lives of Abraham and Francis, difference exists. Abraham lived a long life when compared with St Francis of Assisi. He was instrumental in the origin of generations. The 12 tribes of Israel originated from Abraham. He was more inclined to the Lord that he spoke to him directly and also got the reply from above. St Francis was a mystic who created vibrations to the souls through his hardcore love and dedication to the lord. His companions were lepers whom he considered the most gifted creations in the whole universe. Approaching the land of revelation, St Francis presented his own body as a

Frankenstein or the modern prometheus Essay Example | Topics and Well Written Essays - 1000 words

Frankenstein or the modern prometheus - Essay Example The defiance that Frankenstein displays in the novel, of the natural laws and the divine modes of creation makes him a modern-day Prometheus. This paper shall also seek to show the importance of this analogy to the Romantics. Revolution against established authority was one of the major concerns of the Romantics, who sought to express this concern in their literary creations. Mary Shelley’s own concerns regarding male authority can also be seen in this analogy that is a conscious device within her work. VICTOR FRANKENSTEIN, A MODERN PROMETHEUS Victor Frankenstein, a Modern Prometheus The character of Victor Frankenstein has intrigued critics since the time of the publication of the novel, Frankenstein. Derided by some as a blasphemous character who seeks to appropriate the functions of God and meets his just end by the end of the novel, Frankenstein has also been compared to the mythic character of Prometheus for the defiance that he exhibits by the very act of creation that h e commits. By doing so, he challenges the authority of the Christian god, very much like Prometheus, who questions the right of Zeus to withhold knowledge from mankind. Rebellious figures both, Frankenstein goes one step ahead and actually attempts to appropriate the functions and powers that are conventionally associated with God. Modeling a character on Prometheus is part of an ethos that supports revolution and liberty. This was the prevalent ethos amongst the writers who were a part of the Romantic movement in England during the nineteenth century. By explicitly stating the analogy between Frankenstein and Prometheus, Mary Shelley erases any doubt as to the nature of the character of Frankenstein. The use of the figure of Prometheus for revolutionary purposes can be seen in the work of another writer of this period, P.B. Shelley. Mary Shelley’s husband, in his poem Prometheus Unbound portrays his main character Prometheus as a long-suffering revolutionary who finally mana ges the overthrow of the tyrant Jupiter (Shelley, 2001). The influence of the VICTOR FRANKENSTEIN, A MODERN PROMETHEUS ideas of her husband can definitely be seen in the work of Mary Shelley. Frankenstein, even while he is performing his scientific experiments, is aware of the blasphemous nature of it. When he says, A new species would bless me as its creator and source; many happy and excellent natures would owe their being to me. No father could claim the gratitude of his child so completely as I should deserve theirs. (Shelley, 2003, p. 36), he proves that he knows his aspirations: become capable of something that only God was capable of. In an act that would provide mankind with the secret of life and death, Frankenstein is similar to Prometheus who aimed to do something very similar through his theft of fire that enabled man to raise himself above the savage state in which he had existed till then. For their crimes, both the characters are separated from their fellow-beings and are tortured by a providential authority, which seems to be a punishment for transgression. Prometheus undergoes separation from his beloved in a manner that is similar to that of Frankenstein’s misery at the death of the members of his family. A thirst for knowledge and the urge to discover what is new characterizes both Frankenstein and Prometheus. Frankenstein is engaged in the constant pursuit of new experiences and it is only when his torture at the hands of his creature begins that he retracts VICTOR FRANKENSTEIN, A MODERN PROMETHEUS from his policy of acquiring new knowledge. Similarly, Prometheus’s attempts to steal fire are born out of a thirst for knowledge. Apart from this thirst for knowle