Campari Analysis Case Study Example | Topics and Well Written Essays - 1000 words

Campari Analysis - Case Study Example eing borrowed,whether the amount being asked for is realistic and whether it can be paid back in due time.Furthermore the CAMPARI analysis also requires a consideration of the risks and insurance and interest problems involved on the part of J &d D. This is where it can be seen that it might be potentially risky to lend to this business as the business plan has some obvious loopholes in the plan which may be deliberately omitted or otherwise. For example the plan omits the mention of the business relationship with the suppliers(whether its on credit or cash,bulk or just-in-time)The transportation and the duration of the supply of the goods is likewise omitted alongwith the possible perks and discounts this business is getting.These factors are important in assessing the financial viability of any business.So before any bank should decide to finance this business for two decades or more they should be convinced that this business is not a "one" hit wonder and how it plans to keep fina ncing the loan paybacks in the face of new market entrants and fierce competition.The plan is also unconvincing to economic lows and booms in the luxury goods department as rapid changes in income and the fashion market cannot generally account for the rapid changes in demand of these goods.Indeed the case for further or even initial lending is weak.The plan demonstrates a strong capital base but where the question of future income returns and profits begins there seems to be rather unconvincing proposition. Furthermore the plan has also spoken of expansion of the premises and this means that there is a danger of diminishing returns if any further capital is invested here. The problem with these economic factors is that they are unaccounted for in a CAMPARI analysis and thus cloud the view into the market viability of the business in the future. Based on the CAMPARI analysis alone it is hard to decipher the business owners as successful entrepreneurs. Arguably since the CAMPARI analysis focuses solely on financial statements there seems to be a missing link of the contributions the loan acquiring business owners are doing for it.In such a business it is the successful and innovative entrepreneurship rather than the capital base which can ensure stable returns for the bank over the next two decades of repayment of the loans. Furthermore as discussed in the next section the finance and loan sourcing of this business seems slightly shoddy and should be double checked to avoid bankruptcy losses. Identify which critical content is missing from the J & D (Newcastle) business plan, and assess its strengths and weaknesses In terms of critical content even though business plan looks promising and boosts of a thorough understanding of their business strategy which is based on the present demand trends, there are a number of gaps here which do not pertain particularly to financial information but it seems that the "character" analysis of the CAMPARI strategy of evaluation has been downplayed by colloquialisms and over confident statements pertaining to the promising consumer demand of the goods.(See the third,fourth and fifth section of the busine

Academic article Essay Example | Topics and Well Written Essays - 3000 words

Academic article - Essay Example a strategic plan may become accidentally successful, but it much more likely to achieve success, and to maintain its profitability, if it has a plan in place. A company with a strategic plan will know how it has got to current success and thus may be able to continue on this path in the future. This essay will consider aspects of good management and planning through the consideration of one of the most successful companies of recent years: McDonald’s Corporation. A company such as McDonalds, involved in planning first needs to be aware of what exactly is happening at the given moment within the business, and then needs to be able to extrapolate possible outcomes based upon that awareness. The first premise of planning is having as much knowledge as possible. The type of planning which is now occurring has changed radically from that envisioned in the traditional business model. As John Byrne puts it, â€Å"gone are the abstraction, sterility, and top-down arrogance of the old model.† (Byrne, 1) Now managers in the most successful corporations (such as McDonalds) are part of a system in which â€Å"today’s gurus of strategy urge companies to democratize the process†, and they do this â€Å"by handing strategic planning over to teams of line and staff managers from different disciplines.† (Byrne, 1) Often young, junior managers who are noted for their creative thinking are teamed with near-retirement, senior managers who essentially have nothing to lose and so can tell it like it is. So from the most junior to the most senior manager there is a role, both for planning within their own specific area of the business, but also for constant consideration of how that may effect longer-term and more far-reaching plans. Planning is perhaps the central role of all managers, because all the other functions flow from it and must always consider their relationship to it. A business without a plan has no future, and so all the other functions will be redundant. Organization

Structure Of Nigerian Financial System Accounting Essay

Structure Of Nigerian Financial System Accounting Essay The need for transparency and clarity in the presentation of financial statements has been an endemic phenomenon which has contributed to the high level of corruption in Nigeria. This level of inadequacy in proper disclosure of relevant information is peculiar to most developing economies. Ali et al., (2009) buttressed the point that the level of disclosure of adequate and reliable information by companies in emerging nations lags behind developed western capital markets and regulatory bodies are less effective in enforcing the accounting regulations. They added that overseas investors are often hesitant to invest in companies operating in emerging economies due to the lack of transparency and lack of acceptance of internationally recognised standards. Chamisa (2000) pointed out that the international accounting harmonization objective is vital for developing countries because of their significant dependence on inflows of foreign capital to finance economic and industrial development s. This argument is clearly relevant to the Nigerian economy, which is dependent on the international institutions like World Bank and International Monetary Fund for funding. In a developing economy, such as Nigeria, financial sector development has been accompanied by structural and institutional changes. Financial sectors generally have long been recognised to play a crucial role in economic development of an economy (Ogujuiba and E.Obiechina, 2010).This sector is often seen as the backbone of the countrys economy due to its impact. The financial system in Nigeria became liberalized when structural adjustment programme was introduced in the 1980s. In recent years the system had undergone significant changes in terms of the policy environment, number of the institutions, ownership structure, depth and breadth of markets, as well as in the regulatory framework. However, in spite of the far reaching reforms of the past two decades, the Nigerian financial system is not yet in a position to fulfil its potential as a propeller of economic growth and development (Onoja et al.,2012). In Nigeria, most companies including financial institutions have been complying with standards issued by The Nigerian Accounting Standard Board (NASB) for a number of years. These standards represent Nigerian Generally Accepted Accounting Practice (PWC, 2011). The information disclosed in Audited Financial Statements (AFS) is guided primarily by the Companies and Allied Matters Act (CAMA) 1990. Section 334 (2) of the Act provides details of information to disclose. In addition to this provision, banks and other financial institutions including Primary Mortgage Institutions (PMI) are expected to comply with Banks and Other Financial Acts (BOFIA), and Nigeria Deposit Insurance Corporation (NDIC) Act 2006 (Abiola and Ojo, 2012). However, in recent years it has been quite common for emerging economies to adopt, either wholly or partly modified form, International Financial Reporting Standards (IFRS) as promulgated by the International Accounting Standards Board (IASB), with a view to improve corporate reporting standards and encourage international investments for the development of their economies otherwise struggling due to lack of resources (Ali et al, 2009). To this end, all financial institutions in Nigeria have been mandated by the regulatory bodies from January 1, 2012 to adopt IFRS as a means of improving financial reporting standards and encourage international investors to invest in the country. 1.2 Research Aim The overall aim of this research is to assess the prospects and the challenges of adoption of IFRS by financial institutions in Nigeria. It considers what impacts the adoption of IFRS could have in curbing the level of corruption and ensuring that high level of transparency is maintained in the major sector of the economy. 1.3 Research Objectives Specifically, within the context of this dissertation, the objectives of this research are to: 1) To examine if lack of transparency, mainly the inadequate disclosure of relevant information in the financial statements and incomparability with global accounting standards were the factors that necessitated the adoption of IFRS by Nigerian Financial institutions. 2) To assess if the costs of the adoption of IFRS outweigh its benefits. Consequently to enable the researcher to evaluate the prospects and challenges the adoption of IFRS is having on the financial sector. 3) To evaluate the impacts the adoption of IFRS will have on relevant areas of the financial reports ranging from the preparation and presentation of the financial statements, information technology and audit report. 4) To explore the potential benefits local and foreign investors will derive from the IFRS adoption. The review of the current writings on IFRS adoption has focused mainly on the developing economies, considering the impacts its adoption will have on those emerging markets. For instance, Bremer and Elias (2007) highlighted that companies from developing economies with weak financial transparency and corporate governance will find it difficult to raise capital and attract foreign investors. Similarly, D.Singh and Newberry (2008) focus on good corporate governance as one of the requirements for complying with International financial reporting standards by developing economies. The uniqueness of this dissertation is that it is specifically concentrating on the financial institutions in a developing economy, where the application of these international financial reporting standards is paramount. The role of financial institutions in developing economies cannot be overlooked, as stated by Bakker and Gross (2004,p.3) because they facilitate savings mobilisation by offering both individuals and institutional savers and investors additional instruments and channel for placement of their funds. In addition, they provide credibility for developing economies in International market. Hence, the researcher would be delving into the prospects and challenges the adoption of international financial reporting standards will have on these financial institutions in the context of Nigerian economy. 1.4 Statement of Research Problem and Questions The intention of this research is to gain an insight on the rationale behind the adoption of IFRS by financial institutions in Nigeria, the prospects and challenges of the transition from Nigerian GAAP to IFRS and the impacts of its adoption. In Nigerias economic history, the strides of the last few years, which have been internationally acclaimed, was exceptional. The many reforms that have engendered the current success have largely included those in the financial sector, particularly, the positive policy shifts in the domestic money market as a first step towards a more robust and enduring facilities for the sector (Iganiga, 2010). President of Institute of Chartered Accountant of Nigeria (ICAN), Mrs Elizabeth Adegite has stressed the need for transparency in the nations financial institutions, saying this would wage war against future failure in the sector (Ekeleme, 2009). The adoption of IFRS by this sector should address the issue of this lack of transparency. In order to achieve the objectives of this research, the questions that this finding seeks to answer are: 1) What are the driving factors and likely constraints the adoption of IFRS will impose on the financial Institutions in Nigeria? 2) What impacts would IFRS adoption have on the financial statements and other essential areas of the financial system? 1.5 Value of this Research This research adds value to current research specifically in the area of Impacts of IFRS adoption, in the context of Nigerian financial institutions, where the implementation of IFRS just took off beginning of this year 2012. This report will serve as a benchmark for future researchers or any knowledge seeker on the relevance of IFRS in an emerging economy like Nigeria, taking into cognisance the various schools of thought examined in this field. It will also enlighten the Nigerian public and as well boost the confidence of potential investors (be it foreign or local) on how the adoption of IFRS will provide credibility to the financial reporting made by the financial institutions. 1.5.1 Structure of Nigerian Financial system It is important to give a brief description of the structure of Nigerian Financial system in this early part of the research so as to have a glimpse of what it entails. Afangideh and Olofin (n.d.) stated that the Nigerian financial system can be broadly divided into two sub-sectors namely: the informal and the formal sectors. The informal sector comprises the local money lenders, the thrifts, saving associations, etc. This component is poorly developed, limited in reach, and not integrated into the formal financial system. Its exact size and effect on the entire economy remain unknown. The formal financial system on the other hand can be further subdivided into capital and money market institutions. This is shown in the diagram below: Figure : Structure of Nigerian Financial System Source: CBN 2010 Report 1.6 Structure of the Dissertation This dissertation is divided into five chapters. The first chapter is the introduction which includes background of the study, research aim and objectives, statement of research problem and question, structure of Nigerian financial system, value of the research and structure of the dissertation. Chapter two focuses mainly on literature review which comprises the globalisation of IFRS and definition of key terms, conceptual framework and models, the drive for IFRS by Nigerian financial institutions, previous research and evolution of Nigerian accounting system. Chapter three deals with research methodology which encompasses research method, research strategy, research approach, limitation of the research and method of data collection. Chapter four considers the case analysis and interpretation of findings. This consists of compatibility of Nigerian GAAP and IFRS, accounting differences between Nigerian GAAP and IFRS, converting to IFRS: effects on Nigerian Banking. Finally, Chapter Five is the conclusion and recommendation. This chapter deals with analysing the data and interpretation of the findings. This analysis involves data collected from both primary and secondary sources relating to financial institutions in Nigeria. This research utilizes hybrid method comprising both qualitative and quantitative methods. However, the qualitative method is the key method while quantitative method is used to back some of the findings of the qualitative method. It is expedient to first consider the compatibility of the Nigerian GAAP and the International financial Reporting Standards before assessing the prospects and challenges the adoption of the foreign standards on the financial institutions. 4.2 Compatibility of Nigerian GAAP and IFRS Before any logical country would consider adopting a foreign accounting standard, the first thing will be to look at the similarities and differences. If there are no differences, then adoption would be of no immense value. With the advent of globalisation, the worlds capital markets have witnessed rapid expansion, diversification and integration. These changes have brought a shift away from local financial reporting standards to global standards (Terzungwe, 2012). It is important to state here that no research work or even publication can do justice to the many differences in the details that exist between IFRS and Nigerian GAAP. According to Price Waterhouse Coopers Report (2011), the major similarities and differences between the IFRS and Nigerian GAAP are shown in the table below: institutions The prospects of adopting IFRS by Nigeria represented an ample shift in financial reporting for the countrys financial institutions because many requirements in IFRS differ from those in the Nigerian GAAP. The adoption of these foreign standards has a lot of promising prospects for the Nigerian financial institutions as they aim towards establishing their presence in the global markets. The various prospects that necessitated the adoption will be analysed below taking into cognisance the responses from the interviewees coupled with some relevant articles in order to enhance credibility. 4.3.1 Transparency and Credibility One of the most salient points put forward by the interviewees as a main prospect of adopting IFRS by Nigerian financial institutions is that it will enhance transparency and credibility. Thirty percent of those interviewed mentioned that lack of transparency and credibility in the area of financial reporting by financial institutions in the country has contributed to the slow progress of the economy. Some of them clearly stated that this lack of transparency is as a result of poor integrity of the management staff. They further explained that the lack of transparency is in the area of provision of inadequate reports, publishing financial statements on a highly selective basis and non-disclosure of important information that could influence the users of financial statements. This response is corroborated by Dr Ngama (2012), the former minister of state for finance in Nigeria, who highlighted that the failure of banks and other financial institutions is the lack of transparency, mainl y in form of manipulation of figures and full disclosure. According to Omotoye (2011) transparency and credibility are seen as important ingredients in nation building and formation of national character; help scholars better understand the dynamics of corruption and hold the key to successful resolution of corruption problems. With the adoption of IFRS, Coker (2012) stated that Nigerian financial institutions can be seen to hold their own in the international market and at the same time compete favourably. He added the financial sector must be seen to comply with the new transparency standards under IFRS in order to achieve their objectives. However, two of the respondents are of different opinions that they do not think the adoption of IFRS will create any more transparency than the local accounting standards. They believed that transparency is not a function of the accounting standards but the preparers of the financial statements. 4.3.2 Boost Reputation in the foreign market Another prospect highlighted by the interviewees is the boosting of the reputation of Nigerian financial institutions in the foreign market. A statement from one of the interviewees read: Nigeria and everything Nigerian including financial institutions have lost their reputation in the international market just because of our bad leadership and insincerity in terms of preparation and presentation of financial statements. He further stated that no Nigerian company wants to be associated with by foreign investors simply because of fraudulent act linked with Nigerians who are top officials in the so called reputable companies in the country. Sixty percent of the interviewees strongly agree that boosting of reputation of financial institutions in the international market is the main prospect of the adoption of IFRS in Nigeria. They believe that if financial statements are prepared under a global accounting standard, there will be less manipulation of figures which will inadvertently promote good image of the Nigerian companies in the foreign market. To support this statement, Ramanna and Sletten (2009) argued that countries choose to adopt IFRS when they expect to increase the share of foreign capital and trade in their economy: expected foreign involvement in an economy can make current adoption of international standards more attractive. They added that financial institutions with low levels of foreign capital and trade can choose to adopt IFRS if they are expecting growth in those factors. 4.3.3 To encourage foreign investors This is another vital prospect the respondents consider cannot be overlooked. In their opinion, they mentioned that the main rationale behind adopting IFRS is to encourage foreign investors. This prospect share the same percentage with the prospect mentioned above in the data collected. Sixty percent of the respondents are of the opinion that with the adoption of IFRS by financial institutions, foreign investors will be encouraged to invest in the companies because reports are clearly written in compliance with the foreign standards that they understand. Some of the respondents acknowledged that foreign investors confidence will be boosted because financial statements of potential companies can be compared with other similar companies in the foreign market. To substantiate this statement, Ali et al.(2009) wrote that overseas investors are often hesitant to invest in companies operating in emerging economies due to the lack of transparency and lack of acceptance of internationally rec ognised reporting standards. Ogunwale (2011) buttressed the point that the adoption of IFRS by companies operating in both private and public sectors would boost the investment climate in Nigeria. Foreign investors want financial statements that are comparable with those of similar businesses in other parts of the world, for strategic decision making in relation to mergers and acquisitions. Many foreign investors will require their subsidiaries in Nigeria to report in accordance with IFRS so that the parent company can comply with its reporting requirements in its home territory. Similarly, the implication of the new reporting format is that banks and other institutions are at the end of the financial year expected to embark on full disclosure of their activities to the extent that it should be understandable to both the shareholders and investors, while at the same in compliance with international best practice (BusinessDay, 2012). This means that financial statements prepared unde r international financial reporting standards will be more reliable than Nigerian GAAP. 4.3.4 To reduce level of corruption Another vital point raised by the interviewees is that with the adoption of IFRS the level of corruption among top management officials in financial institution will be reduced. Five percent of the people interviewed clearly pointed out that corruption may not be totally eradicated from the financial system but to a reasonable extent will be reduced. During the interview, reference was made to the sacking of corrupt bank chief executives by the Central Bank of Nigeria governor. In their opinion, the interviewees believed that if there had been a more concise and transparent accounting standards than the local standards, the fraudulent activities perpetrated by the banks top officers would not have been possible. One interviewee explained that in a view to fight corruption in the country, especially among top officers in notable companies, is one of the rationales that made the Federal Government of Nigeria to mandate companies to adopt IFRS. He further stated the more stringent provi sions in IFRS can address creative accounting that Nigerian GAAP is susceptible to. Onwubuariri (2012) stated that fighting corruption is not easy and since IFRS will ensure an accounting system that will checkmate corruption and fraud, there is expectation that not all stakeholders will be satisfied with its adoption. It is observed during the course of this research that there are some IFRS frameworks which Nigerian GAAP has no guidelines. For instance, the Price Water House Report (2011) reveals that no guidance exists for non-current assets held for sale or disposal group, financial liabilities classification, convertible instruments and other vital accounting transactions under the Nigerian GAAP compare to IFRS. These are areas susceptible to corrupt practices. 4.3.5 To facilitate cross border exchange listing Kip (2007) defines cross border listing as the listing of securities issued by a foreign issuer on a domestic securities exchange. He added that the reasons for this cross border exchange is for companies to boost their status as a truly global player, increase trading volume and improve shareholder relations. Five percent of the correspondents admitted that adoption of IFRS would enhance cross border exchange listing which may not be possible with Nigerian GAAP. They added that with IFRS in place, the obstacles like differences in accounting standards, inadequate financial information to cross border exchange listing will be removed because of the uniformity in the accounting standards. In a similar research conducted in India, with a parallel growing economy like Nigeria, it was observed that IFRS will eliminate blockades to cross border listing and would be beneficial for the investors who generally attributed to risk premium if the underline financial information is not prepared in accordance with international standards (Ray, 2012). The overall prospects of IFRS adoption by financial institutions responses from the research questionnaire distributed are shown in the table below coupled with a pie chart: Table : Percentage distribution of responses of respondents on the prospects of IFRS adoption by Nigerian financial institutions Ranking according to % of respondents 1 2 3 4 5 1Transparency and credibility 30% 2 To boost their reputation in the foreign market And also encourage foreign investors 60% 3 To enhance international comparison 60% 4 To reduce level of corruption 5% 5To facilitate cross border exchange listing 5% Figure : Prospects for the adoption of IFRS by Nigerian financial institutions 4.4 Challenges of IFRS adoption by Nigerian financial institutions The adoption of IFRS presents many challenges especially for many developing nations. Ehijeagbon (2010) wrote that the convergence to a single set of globally accepted high quality standards is vital to economic growth and ultimately in the best interest of the public, it is essential for all the stakeholders to consider the need for their operation in overcoming the attendant challenges that come with the adoption and implementation of international financial reporting standards. These challenges are analysed below: 4.4.1 Cost factor The first challenge put forward by the interviewee is the cost of implementation factor. Fifty percent of the responses from the questionnaire mentioned that there are various costs associated with the implementation of the foreign standards ranging from cost of training and cost of replacing Nigerian GAAP packages with IFRS packages. In their opinion, they believe the cost of hiring IFRS trainer, creating a conducive environment for the implementation and changing the local statement of accounting standards packages to IFRS packages will have a big impact on the earnings of the financial institutions. In support of this view, Terzungwe (2012) highlighted that converging to IFRS has a huge cost outlay which include the cost of training personnel to understand the new global standards, cost of acquiring new accounting packages that are needed for the implementation, cost of discarding former accounting packages that are not compatible with IFRS. Madawaki (2012) added that professional s (accountants, financial analysts, auditors, tax practioners, regulators, stockbrokers and accounting lecturers) are all looked upon to ensure successful implementation of IFRS which may prove costly to small-size financial institutions. He further stated that training materials on IFRS are not readily available at affordable costs in Nigeria to train such a large group which poses a great challenge to these financial institutions in adopting IFRS. However, twenty five percent of the respondents are of different opinion that cost cannot be a challenging factor to financial institutions taking into cognisance their financial strength. They asserted that majority of the countrys financial institutions have the financial capability to overcome the cost factor which is evidenced in their published financial statements; although their reported profits may be slightly affected in the short term but will be recupperated in the long term. An argument in favour of these respondents opinion was pointed out by Chadha (2010) that financial institutions with the intention to go global will consider cost as a benefit instead of a challenge because all their business units/investments will be on a common accounting platform. 4.4.2 Lack of personnel Thirty percent of the responses from the questionnaire showed that financial institutions in Nigeria do not have the right personnel to implement the IFRS. They are of the opinion that most of these financial institutions staffs are neither accountants nor auditors, thereby making it difficult to quickly adapt to the new accounting system. They added that some of the accountants in the financial organisations are not IFRS compliant because they are locally qualified. Oduware (2012) emphasised that the average accountant in most entities in Nigeria lacks understanding of advanced financial management techniques for instance financial instruments valuation, impairment analysis forecasting etc. This has slowed down the reporting process. These financial instruments are essential transactions of most financial institutions globally. In the course of this research, it is observed that lack of right and adequate personnel is major predicament for most emerging economies. The Minister of Fi nance in Nigeria, Mrs Ngozi O. Iweala (2011) acknowledged the fact that despite some training programme on the set of International standards organised by some financial firms in this category, they have not really gotten to the stage of embedding IFRS into their systems and process, even as some insisted that most of the companies in the country have no idea of how to go about the IFRS. Also, Adam (2009) cited a recent study conducted by the United Nations Conference on Trade and Development (UNTAD) indicates that there is serious shortage of personnel in developing countries that have the basic skills and experience to implement IFRS. This therefore makes it crucial for the issue of skill gap to be tackled at the very outset in our IFRS transition. In contrast to the above view, twenty five percent responses indicated that Nigerian financial institutions have the people it takes to implement the international accounting standards. In a similar manner, some responses from the interview conducted also supported this notion that there are qualified staffs in financial organisations that possess the necessary skills to implement the IFRS, although they may need to update knowledge. 4.4.3 Lack of infrastructure This is another challenge preventing the smooth flow of the implementation of IFRS by financial institutions in Nigeria as mentioned by some of the interviewees. Ten percent of the responses received agreed that most Nigerian companies lack the proper infrastructure to effectively carry out the execution of the foreign standards. Mwaura and Nyaboga (2009) wrote that more than a half of all African countries do not have the functional accounting organisations to ease the execution of the IFRS. They added that International Financial of Accountants (IFAC) faces the daunting task of assisting these developing countries to first develop functional professional accounting organisations. Similarly, O.Ailemen and Akande (2012) argued that some of the obstacles to full implementation of IFRS are the absence of training facilities and academic curriculum in school. They also pointed out that poor reporting systems are also indication of poor infrastructure. On the contrary, forty five responses disagreed with the above mentioned point. They strongly believed that Nigerian financial institutions have the technical know-how to Implement IFRS. They added that without proper infrastructure in place, they would not have been mandated to adopt IFRS in the first place. In their view, it is upheld that most Nigerian accounting standards are a replica of International financial reporting standards, except for few standards that are amended to suit the countrys environment. This argument is supported by Iyoha and Jafaru (2011) which declared that there are strong institutional infrastructure to make the transition to IFRS effective and rewarding like accountancy bodies (ICAN and ANAN), Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Nigerian Accounting Standards Board (NASB). 4.4.4 Political and cultural factor Politics and culture is also one of the challenging factors for adoption of IFRS by financial institutions in Nigeria, as most companies are being regulated by governmental bodies. Government, in both developed and undeveloped countries play important part when it comes to making decisions that affect the vital part of the countrys economy. The adoption of IFRS is of great significance to Nigeria which makes the role of the government inevitable. Ten percent responses confirmed that political and cultural factor is another unavoidable challenge in the Nigerian sector. The political factor is seen to be a challenge as explained by one interviewee due to lack of continuity when there is change of political power, which might have a negative effect on the activities of the financial sector. He stated that a new government might take over and not be in support of the IFRS due to the poor structure of the political setting With regards to culture, Jones et al., (2009) stated that integrat ing world-wide cultural differences to ensure that IFRS are applied and interpreted consistently is sure to be a difficult task. The management culture in most financial institutions in terms of compensation plan would have to be changed due to the differences in terms and conditions of Nigerian GAAP and IFRS (Ailemen and Akande, 2012). This tends to be a great challenge as most of the top officers feared that the terms and conditions of IFRS might be less favourable. However, five percent of the responses were of different opinion that the politics and culture may pose no challenge as the Nigerian government is more than prepared to ensure the smooth transition from the local GAAP to IFRS. To corroborate this opinion, Omankhanlen (2010) reported that the Federal Government of Nigeria is in support of the adoption of the foreign standards because it will facilitate rapid economic development as explained by the countrys Minister of Commerce and Industry in a summit organised by NASB. In addition, the Financial Reporting Council of Nigeria, a federal government agency, has concluded the arrangements for the establishment of IFRS academy as a platform the development of contemporary skills sets in all aspects of accounting and financial reporting amongst preparers, users, regulators and auditors of financial report, and the teaching and learning of IFRS in Nigeria and Africa (Financial Reporting Council of Nigeria , 2012). The overall responses on the challenges of IFRS adoption by Nigerian financial institutions are depicted in the table and graph below: Table : Percentage distribution of responses on the challenges of IFRS adoption by Nigerian financial institutions 1 2 3 4 Ranking according to % of respondents Agree Disagree Agree Disagree Agree Disagree Agree Disagree 1. Cost 50% 25% 2. Lack of personnel 30% 25% 3. Lack of infrastructure 10% 45% 4. P

Psychological Manipulation in 1984 Essay -- George Orwell

Nineteen Eighty-Four, by George Orwell, is a superb novel with outstanding themes. One of the most prominent themes found in this novel is psychological manipulation. Citizens in this society are subject to ever present signs declaring â€Å"BIG BROTHER IS WATCHING YOU† (Orwell 1). Along with psychological manipulation, physical control takes place. The Party not only controls what people in Oceania think, but what they do as well. Technology is another important theme. Without the constant telescreens, microphones, and computers, the Party would be all but powerless. Big Brother is the main figure of the Party. The main symbol that drives these themes is the telescreens. It is representative of the party always watching and controlling everyone at all times. Psychological manipulation the Party uses on the citizens is one of the first themes Orwell exposes in this dystopian society. The Party maintains this manipulation by constantly overwhelming citizens with useless information and propaganda. And when memory failed and written records were falsified—when that happened, the claim of the Party to have improved the conditions of human life had got to be accepted, because there did not exist, and never again could exist, any standard against which it could be tested. (Orwell 82) Winston Smith, the protagonist, is having a frustrating conversation with an old man about life before the Revolution. He figures out that the Party has purposely set out to weaken the people’s memories in order to make them unable to challenge what the Party claims about the present. If there is no one who remembers life before the Revolution, then no one can say that the Party has failed. In reality, the Party has failed by forcing people to... ...of Nineteen Eighty-Four are not going to be forgotten any time soon. Psychological manipulation is quite possibly the most realistic of the themes. In conjunction with psychological manipulation is physical control. The Party is a totalitarian government and controls every aspect of life. Technology is yet another important theme. Technology is what gives the Party their power and influence. Big Brother, the symbol, as well as the telescreens are motifs that help drive the main conflict. Works Cited Knapp, John V. â€Å"Nineteen Eighty-Four† Critical Survey of Long Fiction. Ed. Carl Rollyson. Hackensack NJ: Salem Press Inc, 2000. 2451-2452. Magill, Frank N. Ed. â€Å"Nineteen Eighty-Four† Masterpieces of World Literature. New York NY: Harper Collins Publishers, 1989. 582-585. Orwell, George. Nineteen Eighty-Four. New York NY: Penguin Books Inc., 1977.

Agriculture in Pakistan

In order to achieve full employment and raise its entire population above the poverty line by the year 2006-07, Pakistan needs to create additional employment for 100 million persons and raise the incomes of millions of under-employed persons. This report presents a program to achieve these goals utilizing the country's competitive advantage in labour-intensive agricultural crops and allied industries. Misfortunes can happen to some very good products. One of the major reasons for such mishappenings, is that industries and organizations fail to realize the importance of a well-planned process of new or existing product development.They do not acknowledge that â€Å" change is the only constant thing in this world† and as trends change it is important to change their products along with it too. The objectives of the program are to double agricultural production in ten years, achieve complete nutritional self-sufficiency for the country, and generate millions in exports of sugar , fruits, vegetables, silk and cotton textiles. The program will generate a minimum growth rate of more than 4% in the agricultural sector. New changes, are the lifeblood of companies.When firms do not change their level of production to meet the requirements of changing consumer desires, government regulations completion and a host of other factors: market share and profit usually decline. The life of a new industry often depends on how it conceives and produceses. INTRODUCTION Agriculture Pakistan's principal natural resources are arable land, water, and extensive natural gas reserves. About 28% of Pakistan's total land area is under cultivation and is watered by one of the largest irrigation systems in the world.Agriculture accounts for about 24% of GDP and employs about 44% of the labor force. The most important crops are cotton, wheat, rice, sugarcane, fruits, and vegetables, which together account for more than 75% of the value of total crop output. Despite intensive farming p ractices, Pakistan remains a net food importer. Pakistan exports rice, cotton, fish, fruits, and vegetables and imports vegetable oil, wheat, cotton, pulses, and consumer foods. The economic importance of agriculture has declined since independence, when its share of GDP was around 53%.Following the poor harvest of 1993, the government introduced agriculture assistance policies, including increased support prices for many agricultural commodities and expanded availability of agricultural credit. From 1993 to 1997, real growth in the agricultural sector averaged 5. 7% but has since declined to less than 4%. Agricultural reforms, including increased wheat and oilseed production, play a central role in the government's economic reform package. Role of agriculture in Pakistan.ARTICLE (September 20 2006): Agriculture is a way of life, a tradition, which for centuries has shaped the economic life, culture and the thought of the people. The importance of agriculture in the development of a country cannot be ignored. Growth of agriculture is very much essential for achieving self-reliance in major food items. Pakistan with a total land area of 79. 61 million hectares is termed as an agricultural country because agricultural sector is the single largest sector of the country which not only provides food to 140 million people but also provides employment to about 48 % of the workforce.Beside, it also provides raw material to the industry, contributes about 60% to export earnings, and provides the livelihood for 70% rural population. In short the agriculture sector can rightly be called the backbone of our economy, as it contributes around Rs800 billion, almost one-fourth to the total GDP i. e. contributing 25% of the GDP. However, the sector, which possesses the potential to be a lead sector in accelerating the economic growth and reducing poverty in Pakistan, has received less attention from successive governments in the past 57 years than other issues.According to the Economic Survey of Pakistan, this year the agricultural growth target came down to 2. 6 percent from 4. 1 percent of the last year i. e. 2004-05. The Survey also attributed the slippage in agriculture to the weak performance of both the major and minor crops. However, the government hesitated to accept its poor attention towards this important sector of the economy. Although, the government announced a comprehensive package for the farmers in June this year, it failed to satisfy the majority of the farming community as they are expressing their dissatisfaction over the incentives announced.Agriculture is the single largest sector of the economy. It contributes 24 percent of the GDP employs 48. 4 percent of country’s workforce and is a major source of foreign exchange earnings. About 68% of the population lives in rural Pakistan and depends upon agriculture for sustenance. The average annual growth rate of agriculture during 1990s was 4. 5%. The highest growth rate of 11. 7 p ercent was achieved in 1995-96 mainly due to increase in cotton, gram, milk and meat production. The sector touched the lowest negative growth rate of 5. 3 percent in 1992-93 mainly due to decrease in cotton and sugarcane production.The major crops as wheat, cotton, rice, sugarcane and maize account for 41% of value added and minor crops 10% in overall agriculture. Livestock has emerged as an important sub sector of agriculture. It accounts for 37. 5% of agriculture value added and about 9. 4% of the GDP. Similarly, fisheries play an important role in national income through export earnings. Agricultural Policy The agricultural sector is highly politicized because the majority of landowners have had considerable political influence. This has resulted in agricultural policy being steered towards supporting the production of majorcash crops such as sugarcane, and exempting almost all agricultural income from taxes. However, following recent discussions with the IMF and World Bank on r evenue collection in general, the present government is in the process of re-structuring the system to try and increase agricultural taxation. In addition, successive governments have extended considerable support to the sector by providing concessionary financing to farmers for the purchase of agricultural equipment (mainly tractors) and for building irrigation and drainage systems.Three year Strategy The Ministry of Agriculture is preparing a new three-year strategy. This will focus on the enhanced productivity of export oriented crops and ensure better marketing of exportable crops to get maximum prices of the produce. The new strategy will envisages to improve the performance of the agriculture sector including Higher growth rate of agriculture as compared to population growth Food security and self-reliance in food cropsEnhancing the productivity of wheat, rice, oil seeds, cotton and sugarcane Land and water development for a sustained agricultural growth Farm input supplies su pported by appropriate technology to the farmers and at the users' end, balanced emphasis on all aspects of agricultural production including livestock, fisheries and forestry Improving marketing of agricultural commodities, emphasis on agricultural research to generate innovative technology including biotechnology for rising per acre yield of land.Improving the productivity of small farmers while encouraging the large farmers for utilization of modern technology. GROWTH IN AGRICULTURE Agriculture is a prime sector of national economy of Pakistan. The growth in agricultural sector and national economy moves hand in hand. The wide fluctuations in agricultural growth have greatly influenced national economy. The sixties was a period of green revolution wherein dwarf cultivars of wheat and rice with high turnover of photosynthesis were introduced.This brought a quantum jump in productivity of these cereals. This resulted in an average growth rate of 5. 1% during the decade. The growth however retarded in seventies to 2. 4%. The massive nationalization policy of the private enterprises had an overall negative impact on the economy. In addition there was a slow down in the process of varietals development and their release, paltering their potential. However, the seventies was a period of high public sector investments in agriculture sector.The important institutions commissioned during this decade are Tarbela Dam, Pakistan Agricultural Research Council, Training and Visit Program of Agricultural Extension, Seed Certification and Registration Departments/Seed Corporations, On Farm Water Management and Barani Area Development Programs. In addition Cotton Export Corporation and Rice Export Corporation were established during the decade to provide an export link to indigenous production. Agriculture in Pakistan Farming is Pakistan's largest economic activity. In FY 1993, agriculture, and small-scale forestry and fishing, contributed 25 percent of GDP and employed 48 percent of the labor force. Agricultural products, especially cotton yarn, cotton cloth, raw cotton, and rice, are important exports. Although there is agricultural activity in all areas of Pakistan, most crops are grown in the Indus River plain in Punjab and Sindh.Considerable development and expansion of output has occurred since the early 1960s; however, the country is still far from realizing the large potential yield that the well-irrigated and fertile soil from the Indus irrigation system could produce. The floods of September 1992 showed how vulnerable agriculture is to weather; agricultural production dropped dramatically in FY 1993. Land Use Pakistan's total land area is about 803,940 square kilometers. About 48 million hectares, or 60 percent, is often classified as unusable for forestry or agriculture consists mostly of deserts, mountain slopes, and urban settlements.Some authorities, however, include part of this area as agricultural land on the basis that it would support some livestock activity even though it is poor rangeland. Thus, estimates of grazing land vary widely–between 10 percent and 70 percent of the total area. A broad interpretation, for example, categorizes almost all of arid Baluchistan as rangeland for foraging livestock. Government officials listed only 3 million hectares, largely in the north, as forested in FY 1992. About 21. 9 million hectares were cultivated in FY 1992.Around 70 percent of the cropped area was in Punjab, followed by perhaps 20 percent in Sindh, less than 10 percent in the North-West Frontier Province, and only 1 percent in Baluchistan. Since independence, the amount of cultivated land has increased by more than one-third. This expansion is largely the result of improvements in the irrigation system that makes water available to additional plots. Su bstantial amounts of farmland have been lost to urbanization and waterlogging, but losses are more than compensated for by additions of new land.In the early 1990s, more irrigation projects were needed to increase the area of cultivated land. The scant rainfall over most of the country makes about 80 percent of cropping dependent on irrigation. Fewer than 4 million hectares of land, largely in northern Punjab and the North-West Frontier Province, are totally dependent on rainfall. An additional 2 million hectares of land are under no irrigated cropping, such as plantings on floodplains as the water recedes.No irrigated farming generally gives low yields, and although the technology exists to boost production substantially, it is expensive to use and not always readily available. Irrigation In the early 1990s, irrigation from the Indus River and its tributaries constituted the world's largest contiguous irrigation system, capable of watering over 16 million hectares. The system inclu des three major storage reservoirs and numerous barrages, headwork’s, canals, and distribution channels. The total length of the canal system exceeds 58,000kilometers; there are an additional 1.6 million kilometers of farm and field ditches. Partition placed portions of the Indus River and its tributaries under India's control, leading to prolonged disputes between India and Pakistan over the use of Indus waters. After nine years of negotiations and technical studies, the issue was resolved by the Indus Waters Treaty of 1960. After a ten-year transitional period, the treaty awarded India use of the waters of the main eastern tributaries in its territory–the Ravi, Beas, and Sutlej rivers. Pakistan received use of the waters of the Indus River and its western tributaries, the Jhelum and Chenab rivers.After the treaty was signed, Pakistan began an extensive and rapid irrigation construction program, partly financed by the Indus Basin Development Fund of US$800 million con tributed by various nations, including the United States, and administered by the World Bank. Several immense link canals were built to transfer water from western rivers to eastern Punjab to replace flows in eastern tributaries that India began to divert in accordance with the terms of the treaty. The Mangla Dam, on the Jhelum River, was completed in 1967.The dam provided the first significant water storage for the Indus irrigation system. The dam also contributes to flood control, to regulation of flows for some of the link canals, and to the country's energy supply. At the same time, additional construction was undertaken on barrages and canals. A second phase of irrigation expansion began in 1968, when a US$1. 2 billion fund, also administered by the World Bank, was established. The key to this phase was the Tarbela Dam on the Indus River, which is the world's largest earth-filled dam.The dam, completed in the 1970s, reduced the destruction of periodic floods and in 1994 was a m ajor hydroelectric generating source. Most important for agriculture, the dam increases water availability, particularly during low water, which usually comes at critical growing periods. Despite massive expansion in the irrigation system, many problems remain. The Indus irrigation system was designed to fit the availability of water in the rivers, to supply the largest area with minimum water needs, and to achieve these objectives at low operating costs with limited technical staff.This system design has resulted in low yields and low cropping intensity in the Indus River plain, averaging about one crop a year, whereas the climate and soils could reasonably permit an average of almost 1. 5 crops a year if a more sophisticated irrigation network were in place. The urgent need in the 1960s and 1970s to increase crop production for domestic and export markets led to water flows well above designed capacities. Completion of the Mangla and Tarbela reservoirs, as well as improvements in other parts of the system, made larger water flows possible.In addition, the government began installing public tube wells that usually discharge into upper levels of the system to add to the available water. The higher water flows in parts of the system considerably exceed design capacities, creating stresses and risks of breaches. Nonetheless, many farmers, particularly those with smallholdings and those toward the end of watercourses, suffer because the supply of water is unreliable. The irrigation system represents a significant engineering achievement and provides water to the fields that account for 90 percent of agricultural production.Nonetheless, serious problems in the design of the irrigation system prevent achieving the highest potential agricultural output. Water management is based largely on objectives and operational procedures dating back many decades and is often inflexible and unresponsive to current needs for greater water use efficiency and high crop yields. Cha rges for water use do not meet operational and maintenance costs, even though rates more than doubled in the 1970s and were again increased in the 1980s. Partly because of its low cost, water is often wasted by farmers.Good water management is not practiced by government officials, who often assume that investments in physical aspects of the system will automatically yield higher crop production. Government management of the system does not extend beyond the main distribution channels. After passing through these channels, water is directed onto the fields of individual farmers whose water rights are based on long-established social and legal codes. Groups of farmers voluntarily manage the watercourses between main distribution channels and their fields.In effect, the efficiency and effectiveness of water management relies on the way farmers use the system. The exact amounts of water wasted have not been determined, but studies suggest that losses are considerable and perhaps amount to one-half of the water entering the system. Part of the waste results from se pages in the delivery system. Even greater amounts are probably lost because farmers use water whenever their turn comes even if the water application is detrimental to their crops. The attitude among almost all farmers is that they should use water when available because it may not be available at the next scheduled turn.Moreover, farmers have little understanding of the most productive applications of water during crop-growing cycles because of the lack of research and extension services. As a result, improvements in the irrigation system have not raised yields and output as expected. Some experts believe that drastic changes are needed in government policies and the legal and institutional framework of water management if water use is to improve and that effective changes can result in very large gains in agricultural output. DrainageThe continuous expansion of the irrigation system over the past cen tury significantly altered the hydrological balance of the Indus River basin. Seepage from the system and percolation from irrigated fields caused the water table to rise, reaching crisis conditions for a substantial area. Around 1900 the water table was usually more than sixteen meters below the surface of the Indus Plain. A 1981 survey found the water table to be within about three meters of the surface in more than one-half the cropped area in Sindh and more than one-third the area in Punjab.In some locations, the water table is much closer to the surface. Cropping is seriously affected over a wide area by poor drainage–waterlogging–and by accumulated salts in the soil. Although some drainage was installed before World War II, little attention was paid to the growing waterlogging and salinity problems. In 1959 a salinity control and reclamation project was started in a limited area, based on public tube wells, to draw down the water table and leach out accumulated s alts near the surface, using groundwater for irrigation.By the early 1980s, some thirty such projects had been started that when completed would irrigate nearly 6. 3 million hectares. By 1993 the government had installed around 15,000 tube wells. Private farmers, however, had installed over 200,000 mostly small tube wells, mainly for irrigation purposes but also to lower the water table. Private Wells probably pumped more than five times as much water as public wells. Officials were aware of the need for additional spending to prevent further deterioration of the existing situation.Emphasis in the 1980s and early 1990s was on rehabilitation and maintenance of existing canals and watercourses, on farm improvements on the farms themselves (including some land leveling to conserve water), and on drainage and salinity in priority areas. Emphasis was also placed on short-term projects, largely to improve the operation of the irrigation system in order to raise yields. Part of the funding would come from steady increases in water use fees; the intention is gradually to raise water charges to cover operation and maintenance costs.Considerable time and money are needed to realize the full potential of the irrigation system and bring it up to modern standards. Farm Ownership and Land Reform At independence Pakistan was a country with a great many small-scale farms and a small number of very large estates. Distribution of landownership was badly skewed. Less than 1 percent of the farms consisted of more than 25 percent of the total agricultural land. Many owners of large holdings were absentee landlords, contributing little to production but extracting as much as possible from the sharecroppers who farmed the land.At the other extreme, about 65 percent of the farmers held some 15 percent of the farmland in holdings of about two hectares or less. Approximately 50 percent of the farmland was cultivated by tenants, including sharecroppers, most of whom had little security and few rights. An additional large number of landless rural inhabitants worked as agricultural laborers. Farm laborers and many tenants were extremely poor, uneducated, and undernourished, in sharp contrast to the wealth, status, and political power of the landlordelite. After independence the country's political leaders recognized the need for more equitable ownership of farmland and security of tenancy. In the early 1950s, provincial governments attempted to eliminate some of the absentee landlords or rent collectors, but they had little success in the face of strong opposition. Security of tenancy was also legislated in the provinces, but because of their dependent position, tenant farmers benefited only slightly.In fact, the reforms created an atmosphere of uncertainty in the countryside and intensified the animosity between wealthy landlords and small farmers and sharecroppers. In January 1959, accepting the recommendations of a special commission on the subject, General Moham mad Ayub Khan's government issued new land reform regulations that aimed to boost agricultural output, promote social justice, and ensure security of tenure. A ceiling of about 200 hectares of irrigated land and 400 hectares of nonirrigated land was placed on individual ownership; compensation was paid to owners for land surrendered.Numerous exemptions, including title transfers to family members, limited the impact of the ceilings. Slightly fewer than 1 million hectares of land were surrendered, of which a little more than 250,000 hectares were sold to about 50,000 tenants. The land reform regulations made no serious attempt to break up large estates or to lessen the power or privileges of the landed elite. However, the measures attempted to provide some security of tenure to tenants, consolidate existing holdings, and prevent fragmentation of farm plots.An average holding of about five hectares was considered necessary for a family's subsistence, and a holding of about twenty to t wenty-five hectares was pronounced as a desirable â€Å"economic† holding. In March 1972, the Bhutto government announced further land reform measures, which went into effect in 1973. The landownership ceiling was officially lowered to about five hectares of irrigated land and about twelve hectares of nonirrigated land; exceptions were in theory limited to an additional 20 percent of land for owners having tractors and tube wells.The ceiling could also be extended for poor-quality land. Owners of expropriated excess land received no compensation, and beneficiaries were not charged for land distributed. Official statistics showed that by 1977 only about 520,000 hectares had been surrendered, and nearly 285,000 hectares had been redistributed to about 71,000 farmers. The 1973 measure required landlords to pay all taxes, water charges, seed costs, and one-half of the cost of fertilizer and other inputs.It prohibited eviction of tenants as long as they cultivated the land, and it gave tenants first rights of purchase. Other regulations increased tenants' security of tenure and prescribed lower rent rates than had existed. In 1977 the Bhutto government further reduced ceilings on private ownership of farmland to about four hectares of irrigated land and about eight hectares of no irrigated land. In an additional measure, agricultural income became taxable, although small farmers owning ten hectares or fewer–the majority of the farm populations–were exempted.The military regime of Zia ul-Haq that ousted Bhutto neglected to implement these later reforms. Governments in the 1980s and early 1990s avoided significant land reform measures, perhaps because they drew much of their support from landowners in the countryside. Government policies designed to reduce the concentration of landownership had some effect, but their significance was difficult to measure because of limited data. In 1993 the most recent agricultural census was that of 1980, which was used to compare statistics with the agricultural census of 1960.Between 1960 and 1980, the number of farms declined by 17 percent and farms decreased in area by 4 percent, resulting in slightly larger farms. This decline in the number of farms was confined to marginal farms of two hectares or fewer, which in 1980 represented 34 percent of all farms, constituting 7 percent of the farm hectarage. At the other extreme, the number of very large farms of sixty hectares or more was 14,000–both in 1960 and in 1980–although the average size of the biggest farms was smaller in 1980. The number of farms between two and ten hectares increased during this time.Greater use of higher-yielding seeds requiring heavier applications of fertilizers, installations of private tube wells, and mechanization accounted for much of the shift away from very small farms toward mid-sized farms, as owners of the latter undertook cultivation instead of renting out part of their land. Observers b elieved that this trend had continued in the 1980s and early 1990s. In early 1994, land reform remained a controversial and complex issue. Large landowners retain their power over small farmers and tenants, especially in the interior of Sindh, which has a feudal agricultural establishment.Tenancy continues on a large-scale: one-third of Pakistan's farmers are tenant farmers, including almost one-half of the farmers in Sindh. Tenant farmers typically give almost 50 percent of what they produce to landlords. Fragmented holdings remain a substantial and widespread problem. Studies indicate that larger farms are usually less productive per hectare or unit of water than smaller ones. Cropping Patterns and Production In the early 1990s, most crops were grown for food. Wheat is by far the most important crop in Pakistan and is the staple food for the majority of the population.Wheat is eaten most frequently in unleavened bread called chapatti. In FY 1992, wheat was planted on 7. 8 million hectares, and production amounted to 14. 7 million tons. Output in FY 1993 reached 16. 4 million tons. Between FY 1961 and FY 1990, the area under wheat cultivation increased nearly 70 percent, while yields increased 221 percent. Wheat production is vulnerable to extreme weather, especially in nonirrigated areas. In the early and mid-1980s, Pakistan was self-sufficient in wheat, but in the early 1990s more than 2 million tons of wheat were imported annually.Rice is the other major food grain. In FY 1992, about 2. 1 million hectares were planted with rice, and production amounted to 3. 2 million tons, with 1 million tons exported. Rice yields also have increased sharply since the 1960s following the introduction of new varieties. Nonetheless, the yield per hectare of around 1. 5 tons in FY 1991 was low compared with many other Asian countries. Pakistan has emphasized the production of rice in order to increase exports to the Middle East and therefore concentrates on the high-quality basmati variety, although other grades also are exported.The government increased procurement prices of basmati rice disproportionately to encourage exports and has allowed private traders into the rice export business alongside the public-sector Rice Export Corporation. Other important food grains are millet, sorghum, corn, and barley. Corn, although a minor crop, gradually increased in area and production after independence, partly at the expense of other minor food grains. Chickpeas, called gram in Pakistan, are the main nongrain food crop in area and production. A number of other foods, including fruits and vegetables, are also grown.In the early 1990s, cotton was the most important commercial crop. The area planted in cotton increased from 1. 1 million hectares in FY 1950 to 2. 1 million hectares in FY 1981 and 2. 8 million hectares in FY 1993. Yields increased substantially in the 1980s, partly as a result of the use of pesticides and the introduction in 1985 of a new high-yie lding variety of seed. During the 1980s, cotton yields moved from well below the world average to above the world average. Production in FY 1992 was 12. 8 million bales, up from 4. 4 million bales ten years earlier.Output fell sharply, however, to 9. 3 million bales in FY 1993 because of the September 1992 floods and insect infestations. Other cash crops include tobacco, rapeseed, and, most important, sugarcane. In FY 1992 sugarcane was planted on 880,000 hectares, and production was 35. 7 million tons. Except for some oil from cottonseeds, the country is dependent on imported vegetable oil. By the 1980s, introduction and experimentation with oilseed cultivation was under way. Soybeans and sunflower seeds appear to be suitable crops given the country's soil and climate, but production was still negligible in the early 1990s.

Employee Performance Essay

The methods presented here are designed to develop elements and standards that measure employee and work unit accomplishments rather than to develop  other measures that are often used in appraising performance, such as measuring behaviors or competencies. Although this handbook includes a discussion of the importance of balancing measures, the main focus presented here is to measure accomplishments. Consequently, much of the information presented in the first five steps of this eightstep process applies when supervisors and employees want to measure results. However, the material presented in Steps 6 through 8 about developing standards, monitoring performance, and checking the performance plan apply to all measurement approaches. A HANDBOOK FOR MEASURING EMPLOYEE PERFORMANCE foreword The handbook has four chapters and three appendices: ⠝™ CHAPTER 1 gives the background and context of performance management that you will need to understand before beginning the eight-step process. ⠝™ CHAPTER 2 defines accomplishments, which is key to using this handbook successfully. ⠝™ CHAPTER 3 includes a detailed description of the eight-step process for developing employee performance plans that are aligned with and support organizational goals. ⠝™ CHAPTER 4 provides study tools, including a followup quiz and a quick reference for the eight-step process. ⠝™ THE APPENDICES contain example standards that were written specifically for appraisal programs that appraise performance on elements at five, three, and two levels. After reading the instructional material, studying the examples, and completing the exercises in this book, you should be able to: ⠝™ DEVELOP a performance plan that aligns individual performance with organizational goals  Ã¢ â„¢ USE a variety of methods to determine work unit and individual  accomplishments ⠝™ DETERMINE the difference between activities and accomplishments ⠝™ EXPLAIN regulatory requirements for employee performance plans P E R F O R M A N C E M A N A G E M E N T: B A C K G R O U N D A N D C O N T E X T emember the story about the naive student in his first English literature course who was worried because he didn’t know what prose was? When he found out that prose was ordinary speech, he exclaimed, â€Å"Wow! I’ve been speaking prose all my life!† Managing performance well is like speaking prose. Many managers have been â€Å"speaking† and practicing effective performance management naturally all their supervisory lives, but don’t know it! Some people mistakenly assume that performance management is concerned only with following regulatory requirements to appraise and rate performance. Actually, assigning ratings of record is only one part of the overall process (and perhaps the least important part). Performance management is the systematic process of: ⠝™ planning work and setting expectations ⠝™ continually monitoring performance ⠝™ developing the capacity to perform ⠝™ periodically rating performance in a summary fashion ⠝™ rewarding good performance The revisions made in 1995 to the governmentwide performance appraisal and awards regulations support â€Å"natural† performance management. Great care was taken to ensure that the requirements those regulations establish would complement and not conflict with the kinds of activities and actions effective managers are practicing as a matter of course. PERFORMANCE MANAGEMENT: BACKGROUND AND CONTEXT PLANNING In an effective organization, work is planned out in advance. Planning means setting performance expectations and goals for groups and individuals to channel their efforts toward achieving organizational objectives. Getting employees involved in the planning process will help them understand the goals of the organization, what needs to be done, why it needs to be done, and how well it should be done. The regulatory requirements for planning employees’ performance include establishing the elements and standards of their performance appraisal plans. Performance elements and standards should be measurable, understandable, verifiable, equitable, and achievable. Through critical elements, employees are held accountable as individuals for work assignments or responsibilities. Employee performance plans should be flexible so that they can be adjusted for changing program objectives and work requirements. When used effectively, these plans can be beneficial working documents that are discussed often, and not merely paperwork that is filed in a drawer and seen only when ratings of record are required. MONITORING In an effective organization, assignments and projects are monitored continually. Monitoring well means consistently measuring performance and providing ongoing feedback to employees and work groups on their progress toward reaching their goals. The regulatory requirements for monitoring performance include conducting progress reviews with employees where their performance is compared against their elements and standards. Ongoing monitoring provides the supervisor the opportunity to check how well employees are meeting predetermined standards and to make changes to unrealistic or problematic standards. By monitoring continually, supervisors can identify unacceptable performance at any time during the appraisal period and provide assistance to address such performance rather than wait until the end of the period when summary rating levels are assigned. MEASURE WHAT IS IMPORTANT—NOT WHAT IS EASY TO MEASURE It is easy to count the number of days since a project began, but if that is all that you measure, is that enough information to assess performance? No, probably not. Or if, for example, a customer service team only measures the number of calls that come into the team (the easy measure) and does not attempt to measure customer satisfaction with its service (the more difficult measure), the team does not have complete information about its performance and has no idea how well it is serving its customers. In addition, because what gets measured gets done, the team will probably focus on how it can increase the number of calls it receives and ignore the quality of service it provides. As a result, organizations need to anticipate the behavioral and unintended consequences of measuring performance. As an example, recently a medical laboratory came under fire because of the errors it made in certain of its cancer tests. A high number of cancer tests that the laboratory had approved as negative turned out to be wrong—cancer had actually been

Collapse of the Roman Empire Essays

Collapse of the Roman Empire Essays Collapse of the Roman Empire Essay Collapse of the Roman Empire Essay The Collapse of the Roman Empire: Military Aspects Modern historians explain the collapse of the western Roman empire in the fourth and fifth centuries in one of two ways. One group follows an institutional approach, which finds the reasons in the long-term and looks closely at internal structures. A second group has adopted a political approach and looks at short term causes of collapse. The long-term approach is the more traditional of the two. This argument suggests that Diocletian (284-305) and Constantine I (305-337) sowed the seeds of collapse. These emperors split the army into border and mobile components. The border troops became soldier-farmers and declined rapidly in efficiency, though they were still paid. Diocletian and Constantine also allowed many barbarians into the army, which had the result of decreasing its fighting efficiency. These historians argue that the weakness of the border troops meant that emperors needed more mobile troops, so they expanded the army. This in turn increased the number of recruits needed, while a simultaneous reluctance of landowners to lose scarce workers led to the recruitment of the militarily inferior barbarians. External problems exacerbated the internal crises of the empire. The small barbarian tribes who had opposed the early empire now banded together to form more powerful confederations such as Goths, Franks and Alamanni. However, some historians are doubtful about the increased power of these groups. Vigorous emperors like Diocletian, Constantine, Constantius II (337-361) and Valentinian I (364-375) kept the barbarians beyond the borders. Then the Huns arrived and drove the Goths into the Empire, defeating the army of Valens (364-378) at Adrianople in 378.

The Computer essays

The Computer essays The article that I found to write about is on a computer that came out in the year 1982. The Computer Company is trying to sell the computer to schools for the use of the children. It describes how it is a 16-student station and its a complete classroom system for any school. It then goes on to say how it has a double density disk drives with 306,000 character storage, typewriter-style keyboard and a 12 upper and lower case display on the screen. It also talks about how it is every computer that a student needs and also that a teacher can use on there own. The way they try getting you to purchase the computer is saying how it has all of these extra features any normal classroom needs to have back in those days. They try getting you to purchase the computer by advertising that school starts in three months and that you need to buy these as computer systems as soon as possible before they sell out of them. They also add a lot of extra items if you are purchasing these for your s chool such as system that lets the teacher control and monitor everything that goes on the computers and what is being done on them. Also they give you a software program specially designed to accommodate teachers and pupils in learning more about the computer and what they are able to do. I think the main catch they are trying to get you with is how it will solve and create all your educational problems if you purchase this system. Its a very catchy advertisement I think in my opinion. They start out by letting you ponder their first statement of next year...its in 3 months. That would make me think as a superintendent of a school district that I would need to get these computers fast for my school before every other school buys them and have the latest technology in computer systems in my school district. It tries telling you that if you dont have this computer system in your school that you will be behi...

Abortion †Prolife view

Abortion, the termination of pregnancy before the fetus is capable of independent life, can either be spontaneous or induced. It is called the knowing destruction of the life of an unborn child. (Mass General Laws Chapter 112 Section 12K) When abortion occurs spontaneously, it is called a miscarriage. However, when the loss of a fetus is caused intentionally, it is regarded as a moral issue. Abortion destroys the lives of helpless, innocent children and is illegal in many countries. An estimate of 1.2 million are performed each year. In retrospect, an estimate 38,010,378 innocent children were aborted since 1973 when the process was legalized. Plagiarism Detection >Abortion is a simple and safe procedure if it is done by trained medical workers during the first trimester. There are four different techniques utilized during the first twelve weeks of pregnancy. Suction aspiration, also known as vacuum curettage, is the most common surgical means of abortion. This is when a powerful suc tion tube with a sharp cutting edge is inserted into the womb through the dilated cervix. The suction dismembers the body of the developing baby, tearing the placenta from the wall of the uterus, and sucking blood, amniotic fluids, placental tissue, and fetal parts into a bottle. Although it is one of the safer methods, there are still frequent complications such as infection and tearing of the uterus, causing hemorrhaging.Dilatation and Curettage (DC) is another surgical process involving the insertion of a loop shaped steel knife to cut the baby’s body into pieces. The placenta is then scraped off the uterine wall. There is a higher risk of infection with DC and greater blood loss than with Suction aspiration.RU 486 and Methotrexate are two similar types of chemical abortion. RU 486 is a pill that can be taken orally only during the five to nine week period. Three trips must be made to the abortion clinic. In the first, the RU 486 pill is administered after a physical exami nation. During the 2nd, 36 48 hours later, the woman is given a dose of artificial prostaglandins initiating uterine contractions. This causes the embryonic baby to be expelled from the uterus. The third visit, about two weeks later, can determine whether the abortion has been completed or if further surgery is necessary. Methotrexate is administered by intramuscular injection. It attacks growing cells of the trophoblast, which functions as the life support system for the baby. This injection causes the immediate disintegration of sheltering environment in which the embryo lives. Without food or fluids, the living, helpless fetus dies. This dangerous method is rarely used because of its unpredictable side affects.The second trimester includes the thirteenth to twenty-eighth week. Dilatation and Evacuation (DE), similar to DC, uses forceps with sharp metal jaws to grasp the parts of the baby and tear them away from the body. The baby’s skull is often hardened to bone and must sometimes be crushed or compressed. The only side affect is profuse bleeding, and impossible cervical laceration.The rest of the procedures can be done during either the second or third trimester (the twenty-ninth to fortieth week). The first method is Salt Poisoning, otherwise known as saline amniocentesis. A needle is inserted into the abdomen of the mother. Her amniotic fluid is replaced with a solution of concentrated salt. Upon swallowing the salt, the baby is instantly poisoned. This can also cause painful burning of the baby’s skin and deterioration. The baby will die after about an hour. The mother delivers the dead baby after a period of 33 35 hours. Some common side affects are seizures, coma, and even death.Prostaglandins are naturally produced chemical compounds which normally aid in the birthing process. However, the injection of artificial prostaglandins at too early a stage induce violent labor followed by premature birth. Often, various forms of toxins, are inserted to insure dead delivery.Partial Birth Abortion, also known as Dilation and Extraction (DE), is used to abort women who are 20 32 weeks pregnant. The abortionist grabs the unborn baby’s legs with a pair of forceps, pulling the entire baby, excluding the head, into the birth canal. Scissors are jammed and then opened into the baby’s skull, and the brain is suctioned out with a catheter. The dead baby is then removed from the uterus.Hysterotomy is a method generally used when others have failed. Incisions are made into the abdomen and uterus, and the baby is removed. Babies are sometimes born alive during this procedure. This method offers the highest risk to the health of the mother because of the potential of rupturing.Some immediate abortion risks include infection leading to sterility or death, excessive bleeding, high fever, a perforated uterus leading to sterility, shock and death. Abortion also increases the risk of breast cancer, cervical cancer, tubal p regnancy, miscarriage, premature birth, and sterility.The Catholic Church teaches that all humans have a right to live, from the moment of conception until the natural ordained moment of death. According to these teachings, a person is living when as young as an embryo until the last second of life before death. Any of the above stated forms of abortion are morally wrong because they murder a fetus which is living, moving, and breathing. With abortion, we give ourselves dominion over a large part of God’s plan. Our destiny, our fate, and our entire race are intensely affected when we take the decision into our own hands. Playing God by intervening in human life transforms us into murderers. We do not have the capacity to choose life or death for a defenseless fetus.Pope John Paul II teaches that life is always good, a conclusion derived from the handiwork of God in creating man in the image and likeness of God. (Gen. I;26) Thus the human being a limited but true mirror of God ’s glory, has a sublime dignity and his life is held to be inviolable. When the Commandments were handed down to Moses, they were ordained to be true by God. One of those central values was thou shall not kill. Abortion is a direct violation of the fifth Commandment.Even in hard cases such as rape and incest, Catholics believe there are better options. Only one percent of abortions done each year are a result of involuntary sexual occurrences. Every baby is wanted and loved by God who has a distinct plan for their lives. It denies the child the right to live and society the privilege of the child’s gift and contributions to the world. God hears the new life in the womb, the heart within the heart, the anguish cry of hostage child sobbing in the dark.Many times after having an abortion, a woman will become emotionally unstable. Post-abortion syndrome describes the trauma of the woman who finally feels guilty, understands the repercussions of her actions, and regrets her previous decision. Statistics show that 92% feel less in touch with their emotions or feel a need to suppress their emotions. 82% had greater feelings of loneliness or isolation and 86% had increased tendency toward anger or rage. 53% increased or began use of drugs and/or alcohol. 28% attempted suicide. Depression, anxiety, insomnia, and suicide are all common symptoms a woman will encounter after an abortion. Post-abortion counseling is available to aid any woman who is suffering from the pain of death and moral responsibility.In 1973, the process of abortion was legalized in the United States after the cases of Roe verses Wade and Doe verses Bolton. Norma McCorvey lied under oath, saying that she was gang raped. After her testimony, the jury decided to authorize abortions for only the first three months of pregnancy and allowed abortion until birth if a licensed physician judged it necessary for the woman’s health. In the second case, the United States senate judiciary co mmittee concluded that no barriers of any kind would be put on a woman who chose to have an abortion at any stage of her pregnancy.Under United States law, murder is illegal and the consequences for any such action would be imprisonment or, in some states, capital punishment. This is so because human have the rights to life, liberty, and the pursuit of happiness according to the Constitution. First and foremost is the right to live. It should not be any different in regards to unborn children. A person is created at the instant of conception. Therefore, every instance of abortion is murder. Even pro-choice activists agree with the scientific aspects of a baby’s development within the womb. They believe that although all the organs of a person are present, it is not a person until its birth. Therefore, in their opinion, the fetus doesn’t have any rights, not even the simple right of existence.How can a woman go through with an abortion if she knows the following facts? At 0 days old, the egg and sperm unite. A new life genetically distinct from the mother’s is created. At 4 days old, the cells begin to differentiate. From 18-21 days, the heart of the baby begins to beat. At 6-7 weeks, the nerves and muscles work together for the first time. At 7 weeks, spontaneous movement is detectable. One hundred thousand new nerve cells are made each minute. From 7-8 weeks, the palm and finger prints form. At 8 weeks, all of the unborn baby’s organs are formed, the feet and hands have taken form, and it has the shape of an adult brain. At 11 weeks, all the body systems are working and hiccups can occur. At 3 months old, there is a distinct individuality in behavior. At 4 months old, kicks of the feet can be detected, females have all 5 million ova formed, and the mother will start to show. At 5 months old, there is response to sound and light. At 6 months old, if cared for properly, the baby can be born prematurely.So what exactly is the question ? Life begins at the moment of conception, which was established. If it is murder to kill a human being, in any stage of life, there should be no debate. If it is a moral and social sin, why is this paper even necessary? It should be evident, through our own human nature that to kill our own offspring is WRONG. Life begets life. We have an obligation to the world to keep human life sacred. More than that however, we have an obligation to our own bodies not to allow such violence to be committed. Although this deprivation is one in which the child is denied life, it is one in which the mother is denied the joy and opportunity to raise that baby. In the long run, this will inflict pain on herself, and with each year passing, the emotional effects become more and more taxing. Even Norma McCorvy herself, better known as Jane Roe (in Roe vs. Wade) admits that abortion is an evil, as she is presently an active member of the pro-life movement.Many believe that abortion should be legalized for the extreme cases of pregnancy due to rape and incest. If a child is a product of violence, there is no need to harm another person’s life trying to heal the pain of the woman. This only guarantees further emotional stress for the victimized woman in the future. The disgusting descriptions and pictures available showing the dead baby after the process can change one’s mind. The tiny, innocent looking little babies have suffered a great deal of pain in their last minutes of survival. Because a brain, heart, and nerves have been developed, a fetus is able to feel death just as any other human would. A mother whose child is killed is always devastated with her loss. It is natural for a mother to feel the same way after having her child aborted before having a chance to care for and nurture her son or daughter who is a part of her.In conclusion, through research and evaluation of data, we have determined that abortion is morally wrong and destructive in all circumstanc es. God, the ultimate creator who decides the fate of all humans who come into existence, is the only One with the ability to choose life or death for His people. For us to make this decision ourselves, we are taking dominion over God and disregarding the Predestination that He intends for each living person.Works Cited   Fettner, Ann Giudici. Abortion. Compton’s Interactive Encyclopedia. 1996.Hope and Healing. Massachusetts Citizens for Life. Elliot Institute, 1998.Levy, Robert J. Abortion. Microsoft Encarta 96 Encyclopedia. 1993-1995.Pro Life Reference Journal. Massachusetts Citizens for Life. Massachusetts Citizens for Life. 1998Schwarz, Dr. Stephen. The Moral Question of Abortion. [Online] Available: http://www.ohiolife.org/mqa/13-5.htm.Unknown. Abortion Techniques: Suction Aspiration. [Online] Available: http://www.nrlc.org/abortion/asmf4.html. Plagiarism Detection >Unknown. Is Abortion Safe: Physical Complications. [Online] Available: http://www.nrlc.org/abortion/asmf l3.htmlUnknown. Over 38 Million Abortions in U.S. since 1973. [Online] Available: http://www.nrlc.org/abortion/aboramt.html

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