Johnson Wax

Case: Johnson Wax: Enhanced Case analysis: Define the problem John Sherman, the product development manager of Johnson & Company, had to take a decision about the future of Enhanced, a new instant hair conditioner. The issues faced by Johnson Wax are whether to launch ‘Enhance' right now, launch it after some modifications or abandon the product. They wanted a new product with the same success that Agree, the company first care product but they also wanted to reduce the costs of the product development process. Formulate the alternatives 1. Launch Enhance as it is right now 2. Make some modifications to the product or its positioning . Abandon the product Analyze the alternatives Current situation Johnson Wax is successful in a specific segment of the hair conditioning market with his product Agree. So they decided to offer another personal-care product line being Enhanced. This is an instant hair conditioner targeted toward woman 25-45 years old with dry hair and was formulate d to appeal to that audience. Market potential The market of the conditioner in which Johnson Wax want to introduce Enhance counts 6 important companies in 1978: Johnson’s Agree (15,2%), Wella Balsam (4,7%), Clairol Condition (9,95), Flex (13,4 %), Tame (5,4%), and Sasson. The firm has previously done Blind-Use test, which actually showed that the consumers don’t distinguish great differences between different brands of conditioner. Tests have shown that one of the most important dimensions for the customers is the conditioning factor. But during the phase of callback the respondents mentioned most frequently manageability and conditioning came third. This means that the company should reposition itself. The market is open for new products that focus on manageability. An incentive to launch the product is that Agree would lose less than half a share point to Enhance. Product design Enhance was available in two sizes for both regular and extra conditioning formulations. It had one facing for each size and formulation. Enhance was offered in 8 and 16 ounce sizes in either clear or opaque plastic bottles with nozzle tops. Research have shown that sampling is not successful and a waste of resources. Another way must be used to promote the product. One way is advertising on TV or in magazines with the use of a celebrity. The downside of this is, that it could be quiet expensive. Distribution channels The distribution channels that Johnson might and should use are wholesalers and retailers through a system of manufacturers’ representatives and factory salesmen. Johnson has created a well established network throughout the years and if they use it to distribute the Enhance product it will reduce transportation cost due to economies of scale. Another benefits will be the reduction of costs through the already established knowledge of the manufacturers’ representatives and factory alesmen. Pricing As suggested in the ‘Trail Estimation’, Enhance was offered in 8 and 16 ounces sizes at $1,31 and $1,94 respectively. With these figures the trial rate of Enhance was estimated at 23%. If we look at the comparison to all ASSESSOR-tested health and beauty aids products, we can see that Enhance can be placed in the group between 20-30 %, which indicates a group percentage of 27,1%. Afte rwards the repeat rate was estimated through telephone call back interviews and they came to the conclusion that the repeat rate among buyers in the laboratory was 60%. If we compare that to the all ASSESSOR-tested health and beauty aids products, we can conclude that Enhance has a high repeat purchase rate. The overall conclusion is that we can set the prices at the level suggested in the ‘Trial Estimation’ because survey have shown that those prices will be accepted by the customers. The steps to the optimal solution 1) Recommend a solution -Abandoning the product is not an option because of the investment already made,e. g. product development and Assesor-test. If we would abandon the product, these costs will be sunk costs. Launching the product as it is now is also not a good option. The MDS, as a result of the ASSESSOR test, was not encouraging about Enhances’ prospects. It is clear that some modifications has to be made. -The optimal solution is to launch Enhance, given the prospective that they will modify the product and subsequently reposition it. Surveys have shown that sampling is not successful so another way of prom otion must be proposed. 2) Plan of action 1. Keep the price at the trial estimations rates, those were very similar to those of the competition( $ 1. 31 and $ 1. 94 for the 8 and 16 ounce sizes. . Sell the product through the existing distribution channels of the Agree line( distributed nationally and overseas to wholesalers and retailers through a system of manufactures’ representatives and factory salesmen. 3. An important step to ensure success of the product is that we make some modifications to the product. The ASSESSOR results in the product acceptance indicates that those who made a repeat purchase will most likely mention manageability as the thing they liked most about Enhance. The company does not really focus on manageability as much as they do on conditioning and cleaning. The relative importance of ‘manageability’ is merely 23% in comparison to 33% for ‘conditioning’. Given the results of the likes and the dislikes of the customer, we can conclude that the company needs to focus more on the ‘manageability’ of Enhance. Manageability needs to be the primary characteristic, followed by conditioning. 4. Given the switch of primary characteristic, the advertising need to be adjusted and thus mainly focussing on the manageability of the product. Advertising needs to focus on the fact that Enhance leaves hair shiny, lustrous, soft and silky, body and fullness. In a nutshell, it makes hair more manageable. This can be realized through advertising in magazines and TV. 3) Contingency plan The prediction trial/repeat model estimated the base shore at 3,9% while the preference model estimates the base share at 3,8%. The Johnson Wax management had set a target market share of 10%. This is about three times as high as the estimations. If we modify the Enhance product we can assume that the market share will increase in the test, hence the adaptations in favor of the likes of the consumer. We will set a base share of 7,5%, which need to be pursuit within two years. If we do not accomplish this objective, we need to abandon the product.

Aci Financial Statement

ASA University Review, Vol. 6 No. 2, July–December, 2012 Cash Flow Statement Disclosures in Pharmaceutical Companies: Bangladesh Perspective Mst. Joynab Siddiqua* Mohd. Takdir Hossan* Abstract Cash flow statement is a vital part of the financial statements. Preparation of cash flow statement is required as per Companies Act 1994 and the public limited companies enlisted with stock exchange are to prepare this statement as per other statutory laws and regulations. The acceptance of International Accounting Standard- 7: Cash Flow Statement has added a new dimension to the preparation and presentation of financial statements in Bangladesh.The companies are now preparing this statement as an integral part of their financial statements. This paper examines empirically the current practices followed by sample companies in preparation of cash flow statement and concludes that the sample companies are in line (with few exceptions) with the requirements of International Accounting Stan dard (IAS)-7 or Bangladesh Accounting Standard (BAS)-7. It also proposes some suggestions for improving the presentation of the statement Key words: Cash flow statement, IAS/BAS, Listed Company, Disclosure.Introduction The purpose of a cash flow statement is to provide information on the cash flow from a company’s operating, investing and financing activities to enable the users of its financial statements to evaluate the ability of the company to generate cash and to use the historic cash flows to predict future cash flows. The cash flow information enhances the comparability of the operating performance by various companies, because it eliminates the effects that arise from the use of different accounting treatments for the same transactions and events.The use of cash flow information is gaining importance in the analysis of financial statements (Epstein 1991; Yap 1997; Jones and Widjaja 1998; Previts and Bricker 1994). Cashflow information is considered less open to manipu lation than information on earnings, because it is based on the actual receipt and payment of cash only and not on the accrual and other accounting principles. Rees (1995:75) adds that the cash flow statement can be more informative than the other statements. However, he literature on the cash flow statement indicates that there are grey areas in cash flow reporting that are open to various interpretations (Everingham and Watson 2002). The perceived simplicity of the cash flow statement may therefore create synthetic confidence in the reliability of companies’ cash flow reporting and the comparability of various companies’ cash flow information. The acceptance of IAS-7: The Cash Flow Statement has added a new dimension to the preparation and presentation of financial statements in Bangladesh.This paper is an attempt to investigate into the state of cash flow reporting by the listed Bangladeshi * Lecturers, Department of Business Administration, ASA University Banglades h 210 ASA University Review, Vol. 6 No. 2, July–December, 2012 Textiles and Clothing companies in general. The focus is not on the quality of the reporting of the companies but rather on what the reporting levels are in general. Objectives of the study The major objectives of the study are as follows: 1. to identify the current practice of cash flow statement of Pharmaceutical companies in Bangladesh. 2. o provide present cash flow statement format, structure and reporting on the basis of information provided in the annual reports of the selected listed Pharmaceutical companies in Bangladesh. Methodology of the study The study was conducted in accordance with secondary information obtained from various sources. The overview of standardization of financial reporting and the regulatory framework has been based on laws, regulation, and guideline and also on various published sources of information taken from International Accounting Standard Board (IASB) and Bangladesh Accountin g Standard 7 (BAS 7).A limited survey has also been made covering a total of 12 Pharmaceutical companies’ annual reports (2009) enlisted in Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). These are selected on the basis of convenience sampling procedure. In order to make the study more revealing it also covers some research articles, textbooks, publications and web sites of various accounting bodies. Limitations of the study 1. Applied non profitability techniques have been used. 2. Due to limitation of the extensive materials, books and previous studies in Bangladesh literature review could not be extensive. 3.This study consists of only 12 listed Pharmaceutical companies due to time and resources constraints. Literature review Cash flow statement: A historical surroundings/background Cash flow Accounting (CFA) was the main system of accounting up to beginning of the 18th century (Watanabe, Izumi: The evolution of Income Accounting in Eighteenth and Nineteent h Century Britain, Osaka University of Economics, Vol. 57, No. 5, January 2007, p. 27-30). Till then, accounting allocation and profit measurement were relatively unimportant; the profit and loss account being used to close off ledger accounts at each period end.However, with the advent of concept and practices of business continuity, periodic measure and statement of financial position began to grow. Thus the basis of cash transaction becomes foundation for the allocation based systems of accounting today. Although there has been a reasonably sustained interest in fund flow statements (based on allocated accounting data) since the beginning of the twenty century, CFA appears to have received little or no support from accountants until the early 1960s.At that time there was little concern over the use of ‘cash flow’ data in the financial analysis- cash flow being interpreted as ‘profit plus depreciation (. Winjum, J. o, 1972). In 1961 AICPA recognized the importan ce of fund statement by publishing Accounting Research Study (ARS) Cash Flow Statement Disclosures in Pharmaceutical Companies 211 NO 2â€Å"Cash flow analysis and fund statements†. Before that, accountants had prepared funds statements primarily as management report. The Accounting Principles Board (APB) responded in October 1963 by issuing APB Opinion NO. : â€Å"the statements of and application of funds†, which recommended that a statement of sources and application of funds be presented on a supplementary basis. Because of the favorable response of the business community to this pronouncement, the APB issued Opinion No. 198: â€Å"Reporting changing in Financial Position† in March 1971. This opinion required that a statement of changing financial position be presented as a basic financial statement and be covered by the auditor’s reports. In 1981 the Financial Accounting Standard Board (FASB) reconsidered fund flow issues as part of the conceptual fr amework project taken in 1976.At this time the FASB decided that the cash flow reporting issues should be considered at the standard level. Subsequent deliberation resulted in Statement of Financial Accounting Standard (SFAS) No. 95: ‘Statement of cash flows’ in Nobember1987 (Weygandt, Kieso, Kimmel 1998: 1936). Fund flow statement Vs Cash flow statement Both fund flow statement and cash flow statement serve as a fundamental parts of the financial statements. In 1961, the AICPA issued ARS No. 2, â€Å"Cash Flow Analysis and the Fund Statements† which recommended that a fund statement covered by auditor’s opinion be included in companies financial reports.According to paragraph 5 of Preface to Statement of International Accounting Standard [approved by the IASC Board in November1982 for publication in January 1983 and supersedes the preface published in January 1975 (amended March 1978)], â€Å"the term ‘financial statements’ covers balance sh eets, income statement or profit and loss accounts, statements of change in financial position, notes and other statements and explanatory materials which are identified as being part of financial statements† (IASC, 2000:32).As per paragraph 7 of framework for the Preparation and Presentation of Financial Statements (approved by IASC Board in April 1989 for publication in July 1989): â€Å"A complete set of financial statement normally includes a balance sheet, an income statements, a statements of change in financial position (which may be presented in a variety of ways, for example as a statement of cash flow or a statement of fund flows) and those notes and other statements and explanatory materials that are an integral part of the financial statements† (IASC : p. 3-44). As per paragraph 4 of the previous IAS 7 (October 1977), statements of change in financial position, the term ‘ funds’ referred to cash, cash and cash equivalents or working capital (IFA C, 1992: p. 813). Funds provided or used in operation of an enterprise should be presented in the statements of changes in financial statement separately from other sources and uses of fund.Unusual items, which are not part of ordinary activities of the enterprise, should be separately disclosed (IASC: Para 21). But many users of financial statements consider current practices of reporting fund flows as confusing because too much information is compressed in the statements of change in financial position, and because no single definition has been established (Mosich and Larsen, 1982; p. 935).In order to develop a conceptual framework for financial accounting and reporting, the FASB issued in December 1980 a discussion memorandum â€Å"reporting Fund flow, Liquidity and Financial Flexibility† which was issued for the following reasons: (1) for assessing future cash flow, and (2) current practices regarding the reporting of funds flow information are not entirely satisfactory. As a result of deliberation, FASB issued SFAS NO. 95 ‘Statements of Cash Flow’ in 1987.The statements require the inclusion of statements of Cash Flows rather than a statement of Change in Financial position when issuing a complete set of financial statements 212 ASA University Review, Vol. 6 No. 2, July–December, 2012 which was made effective for annual periods ending after July 15, 1988. The major requirements of the statements are of the following two areas: Basis of Presentation: The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents.Classification of cash flows: Cash flows are to be classified according to operating, investing and financing activities. The basis of such classification is derived from the financial theory, which state that the enterprise derives the cash used for investing activities and settlement of outstanding financial obligation in an accounting period from internal and external s ources. Internal cash sources emanate from the net cash generated from current operation and perhaps disinvesting and depletion of cash resources at the start of the period.External cash sources come from financing activities such as borrowing and receiving cash from the sale of equity shares to existing and new shareholders (Wallace et,al). Benefits of Cash Flow Information – The information in a cash flow statement helps investors, creditors, and others to assess the following aspects of the firm’s financial position. – Such statements serve as a mechanism for predicting the ability to generate future cash flows for the investors, creditors and others. – This enables managers or management to plan coordinate and control financial operation in an effective manner. It gives an indication of the relationship between profitability and cash generating ability thus of the quality of the profit earned. – It furnishes information to the management regard ing the entities’ ability to pay dividend and meet obligations. – Analyst and other users of financial information often, formally or informally, develop models to assess and compare the present value of the future cash flow of entities. Historical cash flow statements could be useful to check the accuracy of past assessment (ACCA Text book part 2. P. 324). It is free from manipulation and is not affected by subjective judgments or by accounting policies. – Such a statement dictates situations when a business has made huge profit but has run out money or it has sustained loss but has enough cash availability. – The extent of cash generated from operational activity and external finance in order to meet capital, tax, and dividend requirements can be obtained from such statements (Lee, T. A: 1972:27-36). – It aids in the evaluation of risk, which includes both the expected variability of future return and probability of insolvency or bankruptcy ( Hen drickson, Eldom.S, 1982: 237). – Such statements reveal the capability of an enterprise to pay its short obligation as and when due to the lenders. – A cash flow statement in conjunction with a balance sheet provides information on liquidity, viability, and adaptability. The balance sheet is often used to obtain information on liquidity, but the information is rather incomplete for this purpose as the balance sheet is prepared at a particular point of time. Cash Flow Statement Disclosures in Pharmaceutical Companies 213 It may assists users of financial statements in making judgments on the amounts, timing and degree of certainty of future cash flows. – This statement provides information that is useful in checking the accuracy of past assessment of future cash flows and in examining the relationship between profitability and net cash flow and the impact of changing price (IAS 7: Para 3 & 4). – Information on cash flows classified by three groups of activ ities (Operating, investing and financing) that allow users to assess the impact of those activities on the financial position of the enterprise and the amount of its cash and cash equivalents.This information may also be to evaluate the relationship among those activities (IAS 7: Para 11). – This statement is of special importance in assessing future cash flows, quality of income operating capability, financial flexibly and liquidity, and information on financing and investing activities. Using cash flows from operating activities from the cash flow statements, different ratios such as liquidity, ratio, solvency ratio, and profitability ratios can also be calculated to evaluate an enterprise’s liquidity, solvency, and profitability. Aziz uddin and Bala, 2001: p. 14) Overview of Cash flow statement The cash flow statement explains the changes that have occurred in the company’s cash and cash equivalents during the year by classifying the cash flows in its operat ing, investing and financing activities. The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents. The classification is done in a way that is most appropriate to the company’s business.The following are the definitions of the components of the cash flow statement: Cash: cash on hand and demand deposits Cash equivalents: short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Operating activities: the principal revenue-producing activities of the enterprise and other activities that are not investing or financing activities Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash equivalents.Financing activities: activities that result in changes in the size and composition of the equity capital and borrowings of the enterprise (Epstein, p. 93). Objective and Scope of IAS 7 Information about the cash flow of an enterprise is useful in providing users of financial statements with a basis to assess the ability of the enterprise to generate cash and cash equivalents and the needs of the enterprise to utilize those cash flows. The economic decision taken by users requires an evaluation of the ability of an enterprise to generate cash and cash equivalents and timing and certainty of their generation.The objective of IAS 7 is to require the provision of information about the historical change in cash and cash equivalents of an enterprise by means of a cash flow statement that classifies cash flows during the period from operating, investing and financing activities. An enterprise should prepare a cash flow statement in accordance with the requirements of IAS 7 and should present it as an integral part of its financial statements for each period for which financial statements are prepared.Users of an enterprise’s financial statements are interest ed in how the enterprise generates and uses cash and cash equivalents. This is the case regardless of the nature of the enterprise activities and irrespective of whether cash can be viewed 214 ASA University Review, Vol. 6 No. 2, July–December, 2012 as the product of the enterprise, as may be the case with a financial institution. Enterprises need cash for the same reason however different their principal revenue- producing activities might be.They need cash to conduct their operations, to pay their obligations and to provide return to the investors. Accordingly this standard requires all enterprises to present a cash flow (Para 1 & 3). Presentation of Cash flow statement under IAS 7 Cash and cash equivalent: The definition of cash and cash equivalent are central to the preparation and interpretation of cash flow statements. Cash consists of cash in hand and demand deposits, coins and notes of an organization, etc. In our country deposits in postal accounts may be termed as c ash (Cooper and Ijiri, 1984: 88; Ghosh, 2001).Cash equivalents are short-term, highly liquid investments that are readily convertible into known amount of cash and which are subject to an insignificant risk of change in value. According to the definitions of paragraph 6 of IAS 7 cash comprises cash in hand and demand deposits; usually ‘cash on hand’ includes currency, notes, and coin in the cash box of the enterprise. It also includes prize bond, negotiable money orders, postal orders, and under posited checks, bank drafts or pay- order.Demand deposits refer to deposits in checking accounts in banks and other financial institutions that may be withdrawn without notice usually subject to deduction of outstanding check. Thus cash equivalents – 1. are short-term investments but the ‘term’ ‘short’ not clearly specified, although a period of three months and less is suggested to be taken as short term period. 2. are highly liquid investments. Here ‘liquid’ means having in a situation where cash equivalents are available in sufficient amount to meet obligation of payments. . are investments that are both: (a) readily convertible, to known amounts of cash and (b) subject to an insignificant risk of change in value. According to SFAC No. 95, the risk categorically refers to risk of change in interest rate. The short-term investments are so near their maturity that they represent insignificant risk of changes in interest rate. Examples include treasury bills, commercial papers, and money market funds purchased with cash that is in excess of immediate needs.However, although by definition, cash equivalents refer to short term highly liquid investments, they are usually held for the purpose of meeting short term cash commitments rather than for other purpose. For an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to insignificant risk of change in value. Therefore an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months and less from the date of acquisition. Equity nvestments are excluded from the cash equivalents unless they are, in substance, cash equivalents, for example in the case of preferred share acquired within a short period of their maturity and with a specified redemption date (Para 7). Cash Flow Statement Disclosures in Pharmaceutical Companies 215 Preparation of Cash flow statements IAS 7 requires cash flows to be classified into operating, investing, and financing activities. Example of cash flows by category Operating Activities Inflows Receipts from customers Outflows Payments to suppliersAdvance deposits from customers Wages and salaries to employees Income tax refunds Income tax payments Interest received on customers’ notes or Other tax payments accounts Dividends and interest received from Interest paid on bank debt or bonds outstanding and inve stments and included in determining net included in determining net income income Investing Activities Cash received from sale of capital assets Payments for purchase of capital assets Cash from sale of debt or equity investments Cash flows capitalized as intangible assets, such as:  · development costs  · start-up costs  · capitalized interest  · exploration Costs Collection of principal on loans to others Purchase of debt or equity securities of others Interest and dividends received on investments Loans extended to others and not included in determining net income Financing Activities Net proceed of issuing debt or equity securities Payment of principal on bonds or bank loans Cash proceeds received from bank loans Purchase of the entity’s own shares Interest paid on bank debt or bonds outstanding and not included in determining net income Dividends paid to shareholders Variations in Reporting activities for Cash flows A. Operating or Financing activities Transactio ns with different categories included in cash flows are classified in a different manner. According to IAS 7, Para 12, â€Å"A single transaction may include cash flows that are classified differently.For example, when the cash repayment of a loan includes both interest and capital the interest element may be classified as operating activities and the capital amount is classified as financing activities†. B. Operating or investing and financing activities Some cash flows may be classified as arising from any activities such as ‘interest’, ‘dividend’ ‘income tax’. The detailed provisions of these types are as follows. 216 ASA University Review, Vol. 6 No. 2, July–December, 2012 Interest: a. For a financial institution, interest paid and interest received are usually classified as operating cash flows (para 33). b. For other enterprise, interest paid and interest received may be classified as operating cash flows because they enter into the determination of net profit or loss.Alternatively, interest paid may be classified as financing cash flows, because they are costs of obtaining financial resources. Interest received may be classified as investing cash flows, because they are returns on investments (para 33). Dividend: a. For a financial institution, dividends received are usually classified as operating cash flow (Para 33). b. For other enterprise, dividends received may be classified as operating cash flows because they enter into the determination of net profit or loss. Alternatively dividend received may be classified as investing cash flows, because they are returns on investments (para 33). c. Dividend paid may be classified as financing cash flows, because they are costs of obtaining financial resources.Alternatively dividend paid may be classified as component of cash flows from operating activities in order to assist users to determine the ability of an enterprise to pay dividend out of operating c ash flows (para 34). Income tax: a. Taxes on income arise on a transaction that gives to the cash flows that are classified as operating, investing, and financing activities in cash flow statement. While tax expense may be readily identifiable with investing or financing activities, the related tax cash flows are often impracticable to identify and may arise in a different period from the cash flows of the underlying transactions. Therefore taxes paid are usually classified as cash flows from operating activities.However, often it is practicable to identify the tax cash flow within individual transaction that gives rise to cash flows that are classified as investing or financing activity as appropriate. When tax cash flows are allocated over more than one class of activity, the total amount of taxes paid is disclosed (Para 36). In the light of SFAS 95, â€Å"Transaction that enter into the determination of net income† are defined as operating activities and hence, interest re ceived or paid, dividend received and taxes on income are rigidly treated to arise from operating activities. Dividend to stakeholders are treated as cash outflows classified as financing activities (Keiso and Weygandt, 1998: 1275-76) Cash flow statement Practices in BangladeshRegulatory Framework, in the eyes of the Companies Act 1994 (Act no. 18 of 1994): According to Section 183 of the Companies’ Act 1994 (which came into effect from 1 January 1995), a company is required to present balance sheet, profit and loss account (income and expenditure account, in case of non profit companies). Under section 185, the balance sheet and the income statement have to be prepared according to the forms set out in Part –1 and Part –2 of Schedule XI respectively under which information on consecutive two years (concerned year and Cash Flow Statement Disclosures in Pharmaceutical Companies 217 preceding year) are to be provided.However according to note (g) of the general in struction for preparation of balance sheet (given in part –1 of schedule XI after the horizontal format of the balance sheet), â€Å"a statement of change in financial position shall be included as an integral part of the financial statements, and shall be presented for each period for which the profit and loss account is prepared†. However no specific format of cash flow statement has been prescribed in Companies Act 1994. In the light of the Security and Exchange Rule 1987 (S. R. O No. 237-l/87 dated on 28 September 1987): Under the provision of rule 12 (1) of the Securities and Exchanges Rules (SER) 1987(amended by the section notification No.SEC/ Section 7/SER/03/132 dated 22 october1997 published in the official gazette on 29 December 1997), the annual report to be furnished by an issuer of listed security shall include â€Å"a balance sheet, profit and loss account, cash flow statement and notes to the accounts collectively hereinafter referred to as the financi al statement’. In the part III of the Schedule of the SER 1987, issues relating to interest paid on short-term borrowing, interest and dividend received income taxes are clearly guidelined. For example, interest paid on short-term borrowing shall be a cash outflow under operating activities; ‘interest and dividend received’ shall be a cash inflow under investing activities. And ‘interest paid on long term borrowing’ and ‘dividend paid’ shall be a cash outflow under financing activities.Under paragraph 35-36, ‘taxes on income’ should be treated as operating cash outflow unless they can be identified in financing and investing activities. Findings of the study To know the extent of cash flows statement reporting practices by Pharmaceutical companies, a survey has been conducted covering twelve annual reports (2009) (For detailed the name of the companies see Appendix-1). The major findings of the study are given below in terms of general variations in reporting and voluntary disclosure. General findings It includes the current format and structure of cash flow statement and the extent of compliance of IAS-7, followed by sample Pharmaceutical Companies in Bangladesh. All the sample companies prepare cash flow statement as required by IAS-7/BAS 7 adopted by the Institute of Chartered Accountant of Bangladesh and present it as an integral part of the financial statements. Notes to cash flow statement have been presented as part of the financial statements in case of all the sample companies.  · The sample companies prepare cash flow statement in vertical form and shows figure of cash flows of the current year and the previous year.  · All the sample companies’ cash flow statement contains a classification of operational, investing, and financing activities.  · The sample companies did not illustrate the policy dopted in determining the formulation of cash and cash equivalents although this is r equired by paragraph 36 of IAS 7. 218 ASA University Review, Vol. 6 No. 2, July–December, 2012 Variation in Reporting Another objective of the survey was to determine which alternatives, permitted by IAS-7, are used most in practice by Bangladeshi pharmaceutical companies. It is found that there are not many differences between companies in their reporting of cash flow information. This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accounting treatments. The results are set out in table 1.Table-1 Variations in reporting [Cash flow statement (CFS)] Factors 1 Notes to CFS Options Separately, following the CFS Part of the notes to the financial statements Incorporated in the CFS Total Direct method Indirect method Total Operating activities or no interest Financing Investing activities Total Financing activities or no dividends Operating activities Investing activities Total Part of accounti ng policy note Nothing disclosed Total Operating activities or no tax Financing activities Investing activities Total Number of companies 0 12 0 12 12 0 12 12 0 0 12 12 0 0 12 12 0 12 12 0 0 12 2 Operating activities 3 Interest received and Interest paid 4 Dividend received and Dividend paid 5 Definition of cash and cash equivalents 6 Income tax Notes to table 1  · Refer to point 2 of Table 1.According to IAS-7 and SEC Rule 1987, the enterprises are encouraged to report cash flows from operating activities using the direct method. The direct method provides information which may be useful in estimating future cash flows which is not available under the indirect method. All the sample companies followed the direct method in reporting operating cash flows. One company (Pharmaceutical Mithun Knitting & Dyeing Ltd. ) discloses cash flows from operating activities under indirect method in notes of financial statements as additional information. Cash Flow Statement Disclosures in Pharma ceutical Companies  ·  · 219 Refer to points 3 & 4 of Table 1.All the companies studied have shown ‘interest received and paid’ under operating activities and ‘interest paid on long term borrowing’ and ‘dividend paid’ under financing activities. Refer to points 5 & 6 of Table 1. All the companies studied have shown â€Å"definition of cash and cash equivalents† in the notes of accounting policy and â€Å"income tax† under operating activities. Voluntary disclosure The survey also included an examination of any additional information that is disclosed regarding the company’s cash flow which is not required by IAS-7, but which may be helpful to the user. For example, separate disclosure of cash flows increases operating capacity and cash flows that maintain operating capacity, disclosure of segmental cash flows, cash flow per share etc.The survey found no company to disclose such additional voluntary information in its ca sh flow statement. Conclusion and Recommendation A materially misstated cash flow statement, whether it is in terms of incorrect classification in the categories or numerical accuracy, can be misleading to the user and can lead to wrong decisions taken by the users of the statement. The survey has revealed that although sample companies prepare cash flow statement according to International Accounting Standard-7 (BAS-7), there is also a degree of non-compliance. It is, however, found that there are not many differences between companies in their reporting of cash flow information.This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accounting treatments. To make cash flow statement more informative and useful for users, the companies should disclose additional voluntary information such as cash flow per share in their cash flow statements. Items consisting of cash flows from operating, investing a nd financing activities should also be clarified in the notes of the financial statements. Due to the limited scope of the present study, a large number of research issues have not been attempted but are identified in the course of the study.Disclosure practices of additional items other than operating, investing and financing activities, disclosure practices differences between listed and unlisted companies, disclosure practices differences between financial and other institutions are some such potential issues for future research. 220 ASA University Review, Vol. 6 No. 2, July–December, 2012 References Annual Reports of Sample Pharmaceutical Companies Listed in Dhaka Stock Exchange and Chittagong Stock Exchange 2009. Aziz Uddin, A. B. M and Bala. , S. K. ( 2001), â€Å"Cash Flow Reporting in Bangladesh†, The Cost & Management, Nov- Dec. ICMAB, p. 13. FASB Discussion Memorandum (1980), Reporting Funds Flow, Liquidity and Financial Flexibility, FASB, Stanford. Thomas H. Beechy. Joan E. D. Conrod, Intermediate Accounting, second Edition, Chpter 5, Exhibit 5-1 pp. 91 Ghosh, Santi N. (2001),â€Å"Workshop Material on IAS # 7 : Cash Flow Statements† compiled under the Institute of Chartered Accountants of Bangladesh (ICAB)Project, Development of Accounting and Auditing Standards in Bangladesh, The World Bank. Government of Bangladesh (GOB) (1994), The Companies Act 1994 (Act No. 18 of 1994). Gup, B. E. & Samson, W. D. 1993. An analysis of patterns from the statement of cash flows. Financial Practice & Education, 3(2):73-79. Hendrickson, Eldom. S(1982), Accounting Theory, Richard D. Irwin, Inc. , Illinois, p. 236. Hertenstein, J. & McKinnon, S. 1997. Solving the puzzle of the cash flow statement. Business Horizons, 40(1):69-76.International Accounting Standards Committee (IASC) (2000), International Accounting Standards 2000 International Accounting Standards Committee, London, â€Å"International Accounting Standard IAS 7 (revised 1992): Cash Flow Statements† in pp. 139165. International Federation of Accounting (IFAC) (1992), IFAC Handbook 1992: Technical Pronouncements (New York: IFAC). â€Å"IAS 7 (October 1977): Statement of Changes in Financial Position† in pp. 812- 816. Khan, M. H. & Akter, M. S. & Ghosh, S. K (2005), â€Å"Cash Flow Statement Disclosures: A Study of Banking Companies in Bangladesh†. Available at www. pcte. edu. in/site/OJMR/Finance/cashflow. pdf Keiso, Donald, E. and Jerry. J.Weygandt (1998), Intermediate Accounting, John Wiley & Sons, Inc. New York, 9th Edition, pp. 1275-76. Lee, T. A. 1982. Cash flow accounting and the allocation problem. Journal of Business Finance & Accounting, 9(3):341-352. Lee, T. A (1972), â€Å"A Case for Cash Flow Reporting†, Journal of Business Finance, Vol. 4, No. 2, pp. 27-36 as quoted in Studies of Accounting Theory, Steyn, B. W. & Hamman, W. D. 2003. Cash flow reporting: are listed companies complying with AC 118? Meditari, 11:167-180. Weyg andt, Kieso, Kimmel, Accounting Principles, 9th edition, John, Wilely and Sons, Inc, pp. 732-733 Wallace, R. S. O. and Choudhury, M. S. I. And Pendelbary, M. 1997), â€Å"Cash Flow Statements: An International Comparison of Regulatory Positions†, The International Journal of Accounting, Vol. 32, No, 1, pp. 1-22 Cash Flow Statement Disclosures in Pharmaceutical Companies 221 Appendix-1 List of the twelve Pharmaceutical companies studied. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. GlaxcoSmithKline Bangladesh Limited (2009) The IBN SINA Pharmaceutical Industry Ltd. (2009) BEXIMCO PHARMACEUTICAL LTD. (2009) ORION INFUSION LTD. (2009) ACI Formulation Limited (2009) Ambee Pharmaceutical Limited (2009) Square Pharmaceutical Ltd. (2009) Libra Infusions Limited (2009) BEACOM Pharmaceuticals Limited (2009) Rahman Chemicals Limited (2009) Renata Limited (2009) Therapeutics (Bangladesh) Limited (2009)

Annotated Bibliography For The Topic Affect Of Fast Food Restaurant

For The Topic Affect Of Fast Food Restaurant - Annotated Bibliography Example Angell, Sonia Y., et al. "Change in trans fatty acid content of fast-food purchases associated with New York City's restaurant regulation: A pre–post study." Annals of internal medicine 157.2 (2012): 81-86. The article evaluates the connection between the consumption of fast food and metabolic syndrome and its components in young people in adolescence stage and children. The article finds out that there is no major connection between fast food consumption and other components of metabolic syndrome. However, fast food consumption can lead to metabolic syndrome, abdominal obesity, and hypertriglyceridemia. The article is critical for this research as it explains the effect of fast food restaurants such as abdominal obesity among others. The investigation shows the influence of visual information cues and fat content on the choice of food in fast food restaurants. The study examines the connection between fast-food restaurants that are near schools and obesity students who study in California schools. The study reveals that students' exposure to fast food can affect adolescents regarding eating patterns and weight. The study shows that there is a need for policy intervention to limit the nearness of fast-food restaurants to schools. The article is relevant to this research since it reveals the effect of fast food on the weight of primary and secondary students. The article makes a connection between the consumption of fast food items and their effect on health. It reveals that fast food may lead to negative health outcomes such as cardiovascular disease, obesity, insulin resistance, and type 2 diabetes. The article is very relevant to the research as it looks at the effect of the various contents of fast food on human beings.

Cultural Tourism Essay Example | Topics and Well Written Essays - 750 words

Cultural Tourism - Essay Example In looking at the official national website for Sri Lanka tourism, the first word that appears is heritage. This indicates a strong need for the country to promote the historical value of its country as being central to the event of a vacation within their borders. The website promotes a sense of otherness, attuned to Western sensibilities, through depicting men sitting on elephants, a lounging leopard, and an exotic woman reclining in what appears to be a spa atmosphere. The experience is connected back to the Western traveler through an image of a Caucasian man on a surfboard and a modern look at a beach. The emphasis is on the exotic, with a connection to the modern Western ideal in order to attract a broad set of travelers. The official national website for the Maldives has a picture of a surfer, swimming below the water towards the surface on a submerged board. The image evokes the sense of the beach, a cool splash of water against the heat of the sun. The first sub-category tha t is presented is titled culture. Just like the Sri Lanka website, the first promotional factor is the differences in culture that a Western traveler would encounter when visiting the country. The two subsequent headings promote diving and the opportunity for a honeymoon in the Maldives. The website reveals the daily temperature and has links to further information about where to stay and where to go, just like the Sri Lanka website. The otherness that is expressed in both websites leads the traveler towards thoughts of adventure. In creating an enticement to travel to the region, the websites are intended to evoke a sense of newness of experience so that the traveler will want to know what they do not yet know. The imagery also suggests that the locations have the element of the exotic, the â€Å"erotics of imperial conquest† as explored by McClintock (24). While the eroticism is not blatant, the notion that the locations will bring to the vacationer an experience that is de fined by adventure suggests that the attendee will be able to conquer an unknown territory. The use of the woman in the spa-like atmosphere on the advertisement for Sri Lanka can be linked to the desire to equate sensuality with the experience of visiting the island. McClintock states that â€Å"women served as mediating and threshold figures by means of which men oriented themselves in space, as agents of power and agents of knowledge† (24). The boundaries of the world have been typically characterized as women, objectifying the presence of the female spirit within the framework of territory. Through using a female image in a position of sensuality, this concept is continued into the modern day discourse about the experience of visiting a new land, thus having conquered that experience. The Maldives have a different approach to enticing their visitors. The site is full of images of the rich blue of the sea in contrast to the strand of islands. Several images of surfers, thei r boards planted beneath their feet and their bodies arched in control of their activity, grace the pages of their website. This evokes a different type of feeling towards the experience. This suggests that the natural environment is what will be conquered in visiting the isla

Oracle Database Concepts Assignment Example | Topics and Well Written Essays - 750 words

Oracle Database Concepts - Assignment Example In invoice table (2NF), item price and item description are dependent on item alone and is independent of the invoice information. Thus invoice table is further reduced to 3NF by moving the independent fields to another table named ITEM as shown below: Thus the final design has 3 tables: CUSTOMER, ITEM, and INVOICE. Customer and Item are related to INVOICE using customer id and item id respectively as foreign keys. The new tables (reduced to 3NF) are shown below: The initial design for storing invoice information had a single table. All the information was stored on the single table. This created a lot of redundancy in the database. For example, if a customer purchases three quantity of 5 items, then the information for the customer has to be repeated for all 15 (3 * 5) rows. This not only creates redundant data but also increases the database size. Further, if the customer information changes, then all the rows have to be updated. This might create a lot of update anomalies. Though this sort of anomalies can be avoided by updating all rows by using customer id in the WHERE clause, there are chances for the presence of huge records for each customer in the invoice table. This may result in heavy updates and lowers the overall efficiency and throughput. After reduction to 2NF, though the data redundancy and update anomaly is eliminated to some extent, it still exists for item information. The information for items like item description and item price is purely dependent on ITEM id and not on invoice. This may again create redundancy and update anomalies. Hence the item information is moved to a new table thereby storing each business entity in separate tables. Thus, the new design that is reduced to 3NF eliminates redundancy and update anomalies and increases the overall efficiency.

Composer- John Cage Research Paper Example | Topics and Well Written Essays - 1250 words

Composer- John Cage - Research Paper Example He dropped out from college in his second year and sailed to Europe where he wrote his first pieces of music, but not liking them, he left them behind on his return to America, after being in Europe for 18 months. Cage was tutored by Schoenberg for free on the condition he â€Å"devoted his life to music†, which Cage readily agreed, but after two years he stopped his lessons because of the fact that he had no feeling for harmony. After that, he began to experiment with percussion instruments and gradually made the rhythm the basis of his music instead of harmony, structuring pieces according to the duration of sections. He went to the Cornish School of Arts in Seattle, Washington in the late 1930’s where he found a job as an accompanist for dancers and was asked to write music to accompany a dance by Syvilla Fort called Bacchanale. He wanted to write a percussion piece but had to write for a piano because there was no pit at the performance venue for a percussion ensemb le.While working on the piece, Cage experimented by placing a metal plate on top of the strings of the instrument. He liked the produced sound and eventually he invented the prepared piano with screws, bolts, strips of rubber and other objects placed between the strings of the piano to change the instrument’s character. It may be that Cage was influenced by his old teacher Henry Cowell who also treated the piano in a non-standard way. For example, asking the performers to strum the strings with their fingers. Widely seen to be his greatest work for prepared piano are The Sonatas and Interludes of 1946-48. Pierre Boulez organized the European premiere of the work and the two composers struck up a correspondence. Unfortunately, this correspondence stopped with a disagreement over Cage’s use of chance in his music. While being at Cornish, Cage also founded a percussion orchestra for which he wrote his First Construction (In Metal) in 1939, a piece in which loud rhythmic m usic is created by metal percussion instruments, and the Imaginary Landscape No. 1, which is the first example of using record players as instruments. In later years, Cage wrote a number of other Imaginary Landscape pieces. In order to introduce an element of chance over which he would have no control, Cage began to use the I Ching in the composition of his music. In the Music of Changes for solo piano in 1951, he used it to determine which notes should be used and when they should be heard. He used chance in Imaginary Landscape No. 4 (1951) as well. This peace was written for twelve radio receivers. Each radio has two players- one that controls the frequency and the other that controls the volume. â€Å"Cage wrote very precise instructions in the score about how the performers should set their radios and change them over time, but he could not control the actual sound coming out of them, which was dependent on whatever radio shows were playing at that particular place and time of performance.†( http://www.wordiq.com/definition/Aleatoric_music) Cage’s friend and colleague from Black Mountain college had produced a series of white paintings while working at the college. These paintings, apparently blank canvases, changed according to varying light conditions in the rooms in which they were hung, the shadows of people in

Smartphone Essay Example | Topics and Well Written Essays - 750 words

Smartphone - Essay Example The author also addresses future prospects in mobile device technology. The article brings into perspective an important opportunity in the field of education and pedagogy in general. Initially, the use of mobile phones was restricted to communication. However, the author outlines that communication can also involve the sharing of information between teachers and students and thereby acting as an educational tool. Furthermore, the ease in accessibility and portability of mobile devices compounded with advancements in technology has made the adoption of mobile phones in education unavoidable. With the realization of the potential in mobile devices with regard to education, technological advancements can and should concentrate on inventions that will promote the use of mobile devices in education. Furthermore, educational strategies should be adopted to ensure that users have the relevant knowledge and experience with regard to using mobile devices for educational purposes. The article brings into perspective an important step in using technology to promote education. The author provides a history account of mobile learning and the some of the reasons why the use of mobile devices for learning unlike the use of computers has not been exploited effectively. The author defines mobile learning as the use of mobile devices such as PDA and Smart phones in education. Some of the issues the author outlines that have been responsible for the lack of effective exploitation of mobile phones as educational devices, are the perceptions adopted by both manufacturers and end users. The author provides an example of the Sony Ericsson mobile manufacturer where the company confessed that education was not one of its priorities when it came to adopting newer technologies in mobile devices. Furthermore, the author explains that end users have not also been able to relate education with mobile devices that are mostly seen as entertainment devices. The

SURVEY BASED ON AN ETHNOGRAPHY DESIGN Essay Example | Topics and Well Written Essays - 1250 words

SURVEY BASED ON AN ETHNOGRAPHY DESIGN - Essay Example If we can identify such conditions, it is possible to take steps to both, manage an effective cure, and prevent further incidents of these illnesses. For this reason, we are attempting to identify what possible areas of child nutrition need to be addressed. In an attempt to understand the possible sources of malnutrition in young children, we request all parents who have minors at home to participate in this study. All you are required to do is to fill out the attached questionnaire to your best knowledge. Your names are not required, as this assures the confidentiality of individual findings. If the study finds any cause for concern, your local health services will be intimated so that quick preventive measures can be taken. We thank you for your time and participation. Part I: B Questionnaire 1. Case no.______________ 2. Age of child:_____________ 3. Weight of child: _____________ 4. Height of the child: _______________ 5. Is the weight within the limits of the child's age norm? a. Yes b. No If no, then is the child: Underweight Overweight 6. Is the child suffering from any respiratory trouble at the moment? a. Yes b. No If yes, please describe the complaint: _____________________________________________________________________________________________________________________________________________________________________________________________ 7. ... Does the child eat adequately each day? a. Yes b. No If No, please explain. ______________________________________________________________________________________________________________________________ 9. Please indentify which of the following foods you child eats adequately on a daily basis. a. Fruit and Vegetables i. Not at all ii. 1-2 serving iii. 3-4 servings b. Rice / Grains i. Not at all ii. 1-2 serving iii. 3-4 servings c. Meats / Pulses and Lentils i. Not at all ii. 1-2 serving iii. 3-4 servings d. Dairy products i. Not at all ii. 1-2 serving iii. 3-4 servings e. Breads i. Non processed _______ servings ii. Processed ________ servings 10. Please describe a typical meal eaten at your home (what items are cooked; and in what manner?) ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________ 11. Are there particular items that the child refuses to eat / is not allowed to eat? _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 12. Does the child have any food allergies? a. Yes b. No If Yes, please mention:

Corporate Social Responsibility as a Strategy Tool to Increase Research Paper

Corporate Social Responsibility as a Strategy Tool to Increase Shareholder Value - Research Paper Example The CSR is defined as actions that corporations engage in to further some social good, and which are beyond the firms’ interest and are legally required. It is also viewed as achieving commercial success through means that honor ethical values and people, communities, as well as the natural environment. In broader terms, the CSR denotes a comprehensive set of policies, programs, and practices that are integrated into the business strategies and decision-making processes and include issues related to governance, human rights, environmental concerns, community investment, business ethics, the marketplace, and the workplace.  This concept receives different views from its supporters and detractors. Broadly, those against it, use the classical economic arguments as put by Milton Friedman; that the management should serve to maximize the shareholder's profits. This is different from the CSR practices that serve many stakeholders. The second objection is that business managers are not meant to handle social activities as they lack social skills and should handle financial and operational matters. The third objection is that the engagement in social activities dilutes the business’s primary purpose. On the other hand, the proponents of CSR argue that CSR practices are useful for a business that would want to function in the future since it makes it create a healthy climate. The next support for CSR is that government regulation is reduced, and the companies have the necessary and adequate resources to fulfill society’s expectations of it. Another argument for CSR is that being proactive is better than being reactive because being proactive helps an organization to plan and is less costly than reacting to social problems after they have occurred.

Demonstrate how to carry out a patient-centred systematic assessment Essay

Demonstrate how to carry out a patient-centred systematic assessment of a patient with palliative care needs & use your findings - Essay Example Symptom management plan which is comprehensive involves a number of considerations. These are: An in-depth and holistic assessment Based on the assessment, there should be identification of the probable based on the assessment The execution of the intervention The continuous evaluation of the measures of intervention Effective management requires various things. These include: i. Amalgamated approach: this involves symptom assessment which is multidimensional. For instance, in the case of the management of pain, may require both patient education on how effectiveness of relation, and opioid. This is helpful as it teaches the patient the method of relieving oneself from anxiety. ii. The specific and targeted approach: this is directed to find out the exact factors contributing to the problem of a specified problem. For instance, pharmaceutical agents could be required to investigate various causal factors to a specific disease or ailment. iii. A tailored approach: this method is suite d for some circumstance. For example, a patient who does not have caregivers or adequate financial capabilities may have to get support from other caregivers. Evaluation It is very vital for one to investigate and find out the level of the underlying symptoms and to determine the progress of the disease. This is important as it helps in determining whether the disease can be reversed or if one is advancing to the terminal stage of their illness. The investigation may be done purposefully to: alleviate the root cause of a symptom and deliver one from the effects of the symptom. Patient Issues related to Symptom assessment and management plan There are various issues with different patients, which may affect the assessment. There this paper presents an elaboration of literature review, which singles out the interconnection of of areas focus in relation to the pain one is undergoing. These include communication, the spiritual life of a patient, and their relationships. Relationships an d Communications Health practitioners and hospitals should conduct and facilitate individual patient support to empower patients to talk effectively health professionals any other person. In addition to this, heal professionals should be trained adequately to enable them to learn the dynamics of communicating to patients, their informal caregivers and how they can communicate with other professionals. The major issue of concern that has been of concern all along is the importance of communication among and between various groups of persons involved. For instance, patients, health care professionals and the informal caregivers. For the case of patience, good communication, trust, and planning are the major concepts in the control of major symptoms that may have been found to develop in a patient. Patients should constantly be assured of wellness not sufferance and disaster after the treatment. The patients should be told of the side effects that are related to some diseases and treat ments. The fear that may engulf a patient about a specific treatment like cancer should be attended to and well addressed. The type of relationship that exists between a patient and health professionals matters a lot in the health improvement of a patient. The type of rela

The Pros And Cons of Boot Camps Essay Example for Free

The Pros And Cons of Boot Camps Essay Boot Camps came into prominence in the 1980s. It was initially conceived as an effective tool for resolving behavioral problems of teens. This approach was derived from the military style of correcting the behavior of erring members of the military. Boot Camps are short programs that may last from 3 to 6 months. The youth offender is housed in a facility along with other youth offenders. This paper will delve on the effects, pros and cons, and background of juvenile boot camps. The Pros And Cons of Boot Camps An Overview of Boot Camps Juvenile delinquency is one of the more glaring issues facing the youth of today. At present, the number of juvenile defenders all over the world has grown into alarming proportions. Juvenile delinquency takes place during adolescence, a period which is marked by a transition from childhood to adulthood. At this stage of their lives, they start to become independent and away from the guidance of their parents. Although the youth is acknowledged as the holder of the key to the future, it is a sad fact that most adolescents are now confronted by many issues that can put their future in peril – violence, drug abuse, prostitution. Juvenile delinquency is regarded as more of a social than political problem. It stems from various factors such as peer pressure and family influence. However, realizing that there is a need to help these youth offenders, the government has stepped in and implemented several measures by setting up facilities that will save the future of these young people. What are Boot Camps? Otherwise known as â€Å"shock incarceration,† boot camps became prevalent in the 1980s. The concept was patterned after the military boot camps and was grounded on the principle of using military discipline in shaping youth offenders to become productive members of the society. Compared to the overcrowded detention centers, boot camps offered reduced per-bed cost (Hanusa, 2006). Boot camps are facilities that are designed to reform delinquents by employing a military type of correction. The main purpose of these boot camps is to teach the delinquent how to respect authority, adhere to rules, and shape up their behavior at home and school. In these facilities, therapy and psychological intervention is non-existent. Instead, military exercises, discipline, and rigid physical training are used to reform the offender (Boot Camps Info, n. d. ). There are many kinds of boot camps. Some of them are run by the state as an alternative for juvenile jail. Others are privately owned with tight security. Guards are placed in boot camps for no reason than to make sure that the inmates will follow the rules. The punishment for breaking the guidelines in the facility includes extended runs and obstacle courses. The idea of boot camps is to break the â€Å"spirit† of the adolescent and lead to corrective actions (Boot Camps Info, n. d. ). The History of Boot Camps Due to the increasing number of adolescent youths who got imprisoned in the last ten years, as well as the different opinions regarding the role that punishment and treatment play in correcting offenders, boot camps have emerged as an alternative to incarceration. Boot camps started in Georgia in 1983. Since then, they have expanded to twenty five states and have gained fame for their military-type approach. In a survey spearheaded by the General Accounting Office, it was revealed that during its first ten years, there were 29 boot camps offering their programs in 29 states with a total population of 10,065. Since then, Michigan and Texas have shown a drop in their population. New York and Georgia own the largest boot camps in the country. Their combined population comprises fifty percent of the national total (Parent, 2003). While the focus of first-generation boot camps centered on the military-type approach involving â€Å"discipline, physical training, and hard work,† second-generation facilities utilized rehabilitation through â€Å"alcohol and drug treatment† (Parent, 2003). Likewise, second-generation boot camps introduced new treatment methods such as pro-social skills training, electronic monitoring, and home confinement, to name a few. By the middle of the 1990s, boot camps existing in the country started to decline. At the dawn of the 21st century, only 51 boot camps are left operating. Likewise, the population of boot camp inmates has considerably dropped more than 30 percent. Reasons Behind Boot Camps Because of the escalating number of youth offenders in the United States, more and more states are now setting up boot camps. These facilities take the place of youth correctional facilities. Most of them adopt the military type of approach in improving the behavior and attitude of the youth offender. They use physical training and conditioning and follow a structured program. However, it is interesting to note that these facilities or barracks are not entirely for problem teenagers. There are facilities designed for the youth without any criminal record. They are no different from other camps, except that they follow strict procedures. How Do Boot Camps Work? Boot camps are patterned after military-type minimum-security prisons. The conditions are not similar to a regular prison facility and the duration of stay is much shorter which could range from three to six months. While majority of the strategy are modeled after military training, juvenile boot camps vary considerably with a standard prison set-up. These facilities provide â€Å"intermediate sanction† in the jargon of juvenile justice. The punishment in a boot camp is more restrictive compared to probation, but not as severe as imprisonment or detention (Begin, 2002). Boot camps in the United States accept male and female delinquents between 17 to 25 years old. Some inmates were admitted to the program through the â€Å"back door† (Begin, 2002). They were chosen by correctional officers from other offenders who were sentenced to serve a regular prison term. Other inmates came from the â€Å"front door† after the court sentenced them to one term in a boot camp (Begin, 2002). When the offender has already completed their sentence, boot camp officials would determine the method of after-care support that the community would provide. Offenders would either receive regular probation, intensive probation supervision, or electronic monitoring (Begin, 2006). The Effects of Boot Camps According to a study conducted by the Washington State Institute for Public Policy and the Office of Juvenile Justice and Delinquency Prevention, there is no evidence that boot camps indeed reduce the rate of recidivism. Usually, staying in a boot camp is much cheaper than detention in a juvenile center. However, the amount of money that will be saved by the offender will be determined by the length of sentence, which is commonly shorter than incarceration (Hanusa, 2006). Boot camps have shown both positive and negative effects on the individual. The approach in boot camps is simple and that is reward for good work and punishment for violations. Most of the inmates admitted in boot camps are troubled teenagers who are either drop outs in the school where they are studying or teens who have behavior problems at home (Troubled Teens Guide, n. d. ). The concept of boot camps started in the military. All the major sectors of the armed forces run their own boot camp programs. In the military, the purpose of these facilities is to train new recruits in several aspects such as physical conditioning, using weapons, comradeship, being a leader, and others. The participants of the boot camps stay in the facility for two weeks without sleep, communication, and food. Aside from that, the participants are made to live in diverse conditions in order to test how far they can go (Tobey, 2006). Since the inmate experience a new environment and share the facility with other participants, they learn to adapt themselves with the new surrounding away from the company of previous friends, old habits and behaviors. Since the old environment has disappeared from their system, the inmate starts to incorporate new attitudes and behaviors. Likewise, he or she learns to mingle with a new set of friends. This is a positive aspect of boot camps (Troubled Teens Guide, n. d. ). The MacKenzie Study Recognized as the most intensive and systematic study on the effects of boot camps, Doris MacKenzie conducted a research in 1994. It incorporated programs which emphasized on supplementary programming and increased supervision when released. The research utilized control groups to make way for comparison of effects in connection with other sanctions. Likewise, the study measured recidivism in order to determine its effects on the attitude and behavior of the community (Bilchik, 1997). The MacKenzie-Souryal study reached the following findings: 1. Although the boot camp participants concluded their term with a positive result compared to standard inmates, there was no difference between the participants and sample population as to objectively measuring the changes towards anti-social behavior while serving their term (Bilchik, 1997). 2. Boot camp graduates had a hard time coping up with community assistance when looking for a job, pursuing an education, finding a home, or being financially secured and treated (Bilchik, 1997). Even though they served their sentence in the boot camps, the amount of recidivism in the United States did not decrease. In the three states were the incidence of recidivism reflected a drop in the rate, the program centered on rehabilitation and intensive supervision upon release ((Bilchik, 1997). In addition, the Mackenzie study proved that boot camps contribute to the possibility of extending incarceration if the charge is life imprisonment in order to take part in the boot camp program. Using intensive supervision after completion of sentence will most likely lead to re-incarceration ((Bilchik, 1997). National Institute of Justice A team of six researchers under the National Institute of Justice also conducted their own study (Bourque, Cronin, Pearson, Felker, Han, Hill, 1996). The research involves three demonstration boot camp projects for young re-offenders aged 15 to 18 years old. Likewise, they evaluated boot camp inmates who are in the after-case program. No control groups or long-term follow up were provided to the survey participants. After the study, it was revealed that although there were promising results at the end of boot camp, the programs used in the study reflected increased rates of attrition as a result of non-compliance, absenteeism, and re-offense while in the aftercare phase (Bourque, Cronin, Pearson, Felker, Han, Hill, 1996). . Moreover, the NIJ study yielded the following findings: 1) With careful planning and implementation, boot camp programs will be able to meet their desired goal (Bourque, et al. , 1996). 2) The success rate of first year boot camps were high ranging between 80 percent and 94 percent (Bourque, et al. , 1996). 3) The boot camp programs involved in the study showed a marked improvement in the educational performance, overall behavior, and physical fitness of the inmates. Likewise, the rate of improvement in the aspect of self-discipline, respect for authority, personal appearance, and teamwork (Bourque, et al. , 1996). 4) Inmates who completed the boot camp program within 3-months and continued to receive supervision from the program for a minimum of 5 months showed positive improvement in their attitude and behavior (Bourque, et al. , 1996). 5) Boot camps are most likely more affordable than prisons found in the State or local prison facilities (Bourque, et al. , 1996). During the early part of the 1990s, some boot camp programs started taking in female inmates. However, a study conducted in 1992 revealed that since these facilities were programmed to admit men, accepting female inmates can become a dilemma. The study revealed the following findings about female inmates (Bourque, et al. , 1996, p. 3): †¢ They face the possibility of becoming single parents †¢ They are prone to experiencing physical or sexual abuse †¢ They are inclined to exhibit a different â€Å"history and pattern of drug use† (Bourque, et al. , 1996, p. 3) †¢ They face the possibility of becoming out of job after discharge from the boot camp What Boot Camp Proponents Say Despite of the many questions that the opponents of boot camp hurl at the program, people who are in favor of boot camps as a correction method raise several points that will prove that this kind of program helps participants become productive members of society upon their release from the camp. In her article, Hanusa (2006) stated some of the arguments in support of the program: 1. The atmosphere pervading in the camp is ideal for fostering positive growth and change (Hanusa, 2006). 2. The program structure and control personnel foster a secured atmosphere where fighting between inmates would be avoided and would not fall victims of other youths than when they are in regular correctional centers (Hanusa, 2006). 3. The addition of military structure can foster camaraderie as well as respect for staff (Hanusa, 2006). What Critics Say About Boot Camps On the other hand, critics of the program also raised several arguments about boot camps: 1. The confrontational nature of boot camps violates the kind of positive interpersonal relationships that the offender needs in order to achieve positive growth. They claim that this is against the aim of therapeutic treatment. The stringent policies implemented by the camp may cause the inmates to develop fear against the personnel of the camp (Hanusa, 2006). 2. The boot camps focus on group activities does not provide room for addressing individual problems of the youth (Hanusa, 2006). According to Susan Colling, a former juvenile programs Director in Colorado, one of the reasons why boot camps are a failure is because it does not provide aftercare assistance. An inmate may do well inside the boot camp but once they graduate from the program and sent back to their community, they will most likely find a hard time coping up with the new situation because they got used to an environment that is controlled and structured (Hanusa, 2006).

Australian Prime Ministers-Sir John Kerr Essay Example for Free

Australian Prime Ministers-Sir John Kerr Essay Sir John Kerr was an eminent lawyer. He was the 13th Chief Justice of the Supreme Court of New South Wales and the 18th Governor-General. He is best known for being the controversial figure at the centre of the dismissal of the Labor government of Gough Whitlam on 11 November 1975, an event which sparked the most significant constitutional crisis in Australian history. On that day Kerr dismissed Prime Minister Whitlam and appointed Malcolm Fraser to form a caretaker government, pending elections. The dismissal was the most dramatic event in the history of Australian federal politics. For the first time since Federation, the unelected representative of the Queen had removed a government which commanded a majority in the House of Representatives. The Dismissal, as it is known, remains a highly controversial event in Australian political history. Kerr was born in 1914 in Balmain, a then working-class suburb of Sydney, where his father was a boiler-maker. After studying at Fort Street High School he graduated in law from the University of Sydney and became a barrister in 1938. At Fort Street, Kerr met Dr H V Evatt, later to become a High Court judge. As a prominent lawyer, Kerr was known for representing trade union clients and had strong ties to the Australian Labor Party. At one stage, in the 1950s, he even intended to stand for parliament as a Labor candidate. In the 1960s Kerr was promoted to other judicial positions (as well as working for a government intelligence agency), and in this period his political leanings became more conservative. He became close with Sir Garfield Barwick, the Liberal Attorney-General who had become the Chief Justice of the High Court in 1964. Kerr was appointed Chief Justice of New South Wales in 1972, and when Sir Paul Hasluck retired as Governor-General in July of 1974, Prime Minister Whitlam recommended to the Queen that Kerr take up the position. It has been said that Whitlam seemed to have faith in Kerrs political reliability due to his former membership in the Labor Party. However, Kerrs political views had changed over time and he had come to see the role of governor-general in a different way from Whitlam. The Whitlam Labor Government had come to power in December 1972 after 23 years of Liberal/Country Party coalition rule. Campaigning on the slogan Its Time, the ALP seemed to have the support of the nation, although in reality their margin of victory was relatively narrow. Whitlam was the first of a new type of Labor prime minister. He put in place a number of progressive legislative proposals, implementing free education policies, reaching out to Asia and breaking with the US on foreign policy. His approach, however, did meet with some resistance. The Senate, with great determination opposed and rejected some of Whitlams key legislative proposals. This included Bills designed to institute a free health insurance system; to provide Senate representation for the Australian Capital Territory and the Northern Territory; to reform the organisation of electorates; and to allow the government to oversee the mining of oil and minerals. The repeated rejection of Whitlams bills led to the calling of a double dissolution election, in which all members in both Houses are up for re-election. A political scandal also forced the election. Prior to the double dissolution election, Whitlam maneuvered to create an extra Senate vacancy in Queensland by offering a sitting senator, Vince Gair, an ambassadorship. Whitlam hoped Labor could win the vacant seat and take control of the Senate. The so-called Gair Affair infuriated the Opposition, who threatened to block supply in the Senate, which meant exercising its power to reject or defer appropriation or money bills. It is a constitutional necessity that the government be allocated money by the parliament through the passing of annual appropriation bills. These bills give the government the money it needs to govern the country and to run parliament for the financial year. In response to these blockages and hoping to secure his position with a strong re-election, Whitlam went to the then Governor-General Hasluck, and gained the double dissolution election which was held in May of 1974. The Whitlam government was re-elected, although with a reduced majority, and the Senate continued to present an obstacle the agenda of the government. During 1975, the Government also was involved in the Overseas Loans Affair. The Whitlam government had a number of plans it needed funded. These included the construction of a natural gas pipeline, the electrification of interstate railways and a uranium enrichment plant. Some of Whitlams ministers seeked to raise an overseas loan of $4 billion to fund these projects, but rather than go to the usual American and European sources, they seeked financing from the oil-rich Middle East. A Pakistani broker was used to secure the loan and the entire process was considered questionable by members of the government, media and public. In the end, no loan was ever gained and no broking commissions paid, but Whitlams government was made to look reckless and foolish. In the face of economic difficulties and the political impact of the Loans Affair, Whitlam remained vulnerable throughout 1975. After a series of resignations in 1975, Opposition Leader Malcolm Fraser announced that the Opposition would use its numbers in the Senate to block supply until Whitlam called another election. Whitlam refused, and this confrontation was followed by several weeks of constitutional crisis, which raised a number of crucial questions about Australian democracy and the roles of the House of Representatives and Senate in the Australian system. Governor-General Kerr took an active interest in the crisis and became convinced of the need to dismiss Whitlam from office. In a later statement, Kerr said he believed that it was the democratic and constitutional solution to dismiss a prime minister who could not guarantee supply and to let the Australian people decide the conflict. Kerr sought the advice of his friend Chief Justice Barwick, who endorsed the legality of the action on Monday, 10 November 1975. On Tuesday 11 November 1975 (Remembrance Day), Whitlam proposed calling a half-Senate election, but the Governor-General rejected this proposal and instead, officially dismissed Whitlam from power. Fraser was asked to step in as a caretaker prime minister. A double dissolution election was held on 13 December of that year. Although the House of Representatives passed several motions of confidence in the Whitlam Government and instructed the Speaker, Gordon Scholes, to send this message to Kerr, the governor-general was steadfast in his decision. Scholes subsequently wrote to the Queen, who replied that there was no place for her involvement or interjection in an internal Australian political conflict. At the 13 December election, Frasers Liberal-National coalition was elected with a large margin. For Whitlams supporters the events of November 1975 were shocking and an abuse of the governor-generals power. In Kerrs statement of reasons for the dismissal, he made the case that he was simply doing his job to uphold democracy, stating that The decisions I have made were made after I was satisfied that Mr Whitlam could not obtain supply. No other decision open to me would enable the Australian people to decide for themselves what should be done. In the wake of the Dismissal, Kerr remained a controversial figure for the rest of his life. Due to a public problem with drinking he was later forced to resign as the Australian Ambassador to UNESCO (United Nations Educational, Scientific and Cultural Organization). He lived in England for some years and died on 7 April 1991. After another defeat in 1977, Whitlam resigned from parliament. Malcolm Fraser went on to be Prime Minister for almost eight years until his defeat by Bob Hawke in 1983. The Dismissal remains a controversial subject in the history of Australian politics, and is particularly relevant to happening debates about Australia becoming a republic and further empowering the Head of State. The constitutional and political effects of the Dismissal remain of importance to anyone interested in Australian politics and the structures of power in Australia.

Globalisation In Relation To The International Relations

Globalisation In Relation To The International Relations The origin of the globalization can be looked after the end of the cold war, when nationalism re-emerged as a challenge to world order. Many countries had been disintegrated as a result of ethnic religious conflicts, which have been interpreted as a clash of different types of nationalism. The former Soviet Union Yugoslavia are two such examples. Even the situation in the Balkans is often looked upon as an example of national disintegration. Some have cited nationalism religion as two important factors that have disrupted the Balkans, but others have attributed it as one of the major culprit of globalisation. Apparently, the roles that these two forces play the impact of globalization on the countries differ. A comparative study was initiated to find the answers to questions raised. There has been no general definitions of both nationalism globalization as they are interpreted in accordance with the concept theory used. Globalization means as a process of globalizing but it is used here to refer as the following : the intensification of worldwide relations which link distant localities in such a way that local happenings are shaped by events occurring miles away and vice-versa by Anthony Giddens. However, there is no doubt that both western Asian nations have faced the challenges of globalization in recent decades, and they have become more intense since the 1990s. the decline of communism and socialism as ideologies, the decreasing importance of national boundaries for capital, companies, and even labour, have had profound implications for national identity. Nevertheless, the impact of globalization on the states is not seemed to be similar.It has been greater on some compared to others. what has been the effects? Did it lead to stronger nationalism or national disintegration? What happened to national identity? Is the concept of nation still relevant in the era of globalization? Based on the above raised questions. There were few nations selected to be surveyed on the basis of there homogeneity, multi-ethnic, immigrant nationhood. Globalistion are neither willful, external, nor the result of bad management, but are produced by them are seemed to be very essential within them. THE DIVERGENCE OF GLOBALIZATION:- The main concern is set upon the problem of globalization which stems from globalization itself: it can be said in a word as, unsustainable. The most basic reason for not getting well into it is that it simply does not work. this does not mean it is an empty concept, simply that it is not going where everyone thinks it is. And perhaps at root of the problems of globalization, is that it is making the world more unequal. Here is the example taken of Kagarlitsky as he puts it simply, it is a myth that free markets lead to homogenization. Infact they lead to polarization between social classes, between countries, between regions. There is prima facie, as in a contradiction in the idea that globalization has no limits, the fact that it is polarizing the world. What unites the very disparate movement against globalization, as so far has been seen, that freedom without equality is an utter nonsense or can be said to be as un imaginable . Not just because it is wrong, but because it is impossible. It is hard to see how any social process that mercilessly segregates the poor from the rich without limit san sustain itself as an integrated totality. The problem is not just that globalization is in a sense of state at war with some alien tendencies towards isolation as some writers express it, but it does produces up some isolated parts as it develops, as a part of its contradictory essence, setting up an organic internal limit . There is a close relation between territorial inequality and political instability, both in space and in time. Looking at a map of the world today, there is an almost one-to-one correlation between those regions in which territorial extremes are sharpest- beginning with the middle-east itself. The nemesis of globalization and the stable emergence of its self destruction from within those in which military and civil conflicts are the most endemic liberal democracy the most remote.the globalization process itself generated the instabilities at every level i.e., social, regional, geopolitical, military, commercial, financial- which rendered global governance impossible. THE THIRD WORLD BOURGEOISIE :- Globalization is a long-standing almost inevitable result of deep-rooted historical technical processes- the compression of space time, the information revolution, the worldwide organization of production, the formation of the world market- which may be muted modified, but which can be stopped, in effect by throwing history into reverse. Only one post modern world, it seems, is possible. indeed, if calling a halt to globalization could lead anywhere, it would seem to vitiate most of the globalists on arguments. The only way therefore is to act on the assumption that globalization is inevitable, with or without reservations, try to direct it into something much better, perhaps offsetting its most fierce and harsh social defects with third way policies and poverty-eradication programmes. The evidences based on the present terms and conditions, globalization is concerned to be injurious to health. Question comes on my mind, why have so many third world governments gone along with it? The ideology of the globalisers has played a role. Academic globalization theory also bears a measure of responsibility for unleashing, de facto, a determined and unilateral account of world development offering few alternative choices for third world nations except to become a mere dumb and make the best use of whatever they are being given. Nevertheless, with the collapse of the soviet union, many protective mechanisms previously available to third world countries vanished within, and to this they had no choice and stood alone and exposed themselves both to the world market the political offensive of the globalisers. Thus there is an underlying basis for the globalist argument the alternatives were always present there, but they involved hard choices and exposed the country concerned to great risks, both internal external. However, the globalization argument has always lacked somewhat in the specific historical events and evidences. The dilemma facing by the third world countries was eternal. If, as we can believe, a new historical situation is going to be emerging, then although the challenges can or may be harsh- probably even harsher than before- the range of options is also be far wider. The second factor is that there is strong, evidence that a transnational bourgeoisie of some kind has real significant existence, regardless of the framework in which one chooses to analyze it. As in example of the theorists of the 1970s used to describe that the capitalists who accepted the subordination of their own country to foreign economic domination, could no longer were adequately capture the status of a new third world layer integrated into world capitalism directly through the circuits of financial capital. Globalization has fostered, and rapidly enriched, a corrupting groups of minorities that populated the political elites of most third world countries, had elevated itself into prospering independent of the fate of its country of origin. GLOBALISATION AND NEW WORLD ORDER: After the international movement against neoliberal globalization took place, the powerful protests against the war on Iraq all over the world did once again reminded everyone that historical development is not simply the product of the schemes devised by the dominant forces of society, but the outcome of a struggle of contending forces, among which working people the oppressed masses are a power to be reckoned with. In order to create an alternative to the above perspective, what was to be needed was a serious analysis of the underlying forces for the strategy of the new world order, announced with great fanfare in 1990, on the eve of the first gulf war, by George bush senior. This concept was too often been dismissed or on the left on the pretext that it is hardly anything more than a new world disorder. This was later conceived by US imperialism as the ultimate destination to be reached through a series of violent upheavals in the existing world order. Hence, the disorder that is time, again denounced is infact the path that the world has to travel in order to reach that ultimate destination. It is, in other words, order through disorder by its very nature. Thus the NWO was, infact, can be termed to be as a dialectical unity in the true sense of the term: the, old order had been nullified violently so that the new order may be established as a synthesis of order disorder. Pure denunciation or condemning also made it more difficult to analyze the methods and modalities through which the new order aspired to being built. It can be stated that US imperialism has been seeking world hegemony will not be able to do. We have to hold on to grip with the mechanisms modalities through which it is doing so. In its turn, NWO cannot be understood in isolation but only as the political superstructure of the economic strategy of globalisation. GLOBALISATION: THE UNRESTRICTED CIRCULATION OF CAPITAL The use of the term globalization to characterize it in the integration of the world economy immediately confronts theory with the task of defining what is new in capitalism and which structural characteristics of the older capitalism still hold sway. For globalization is but one element in that series of theoretical concepts such as post fordism, post modernism, the information society etc. that form the basis of the overall claim that the nature of society the economy have undergone such complete transformation that all conceptual frameworks hitherto utilized to understand the world have now become wholly inadequate for the task. The advances in the internationalization of capital and the integration of the world economy in the recent period have been codified within the framework of the bourgeois liberal theory of globalization whose assumptions and conclusions were later adopted unquestioningly by many on the left ( most notably by Michael Hardt and Antonio Negri is their much acclaimed empire). Globalisation theory has become so influential that it is now common sense, so to speak, for the thinkers and so on, its major ideas are being circulated in the popular media in the form of incontrovertible dogma or accepted without any objection. The core of this theory can be summed up in four major propositions: globalization is the direct product of the recent wave of technological process, that is of the new informations and communication technologies. globalization is an inevitable and irreversible process; the new integration of the world economy has rendered the nation state obsolete as a historical category or in more restrained versions of the theory, paved the ground for this; It has opened up a new stage in the historical development of capitalism distinct from the imperialist stage. None of these propositions can withstand the test of a confrontation with the facts of present-day world capitalism As much is admitted by the advocates of globalization theory itself when they advise governments to harmonize their economic policies with the requirements of the global economy in order to be able to attract foreign capital, which is but a roundabout way of admitting the specificity of national economies and the difference national economic policy can make. The final claim that the imperialist stage has been transcended thanks to globalization is perhaps the most insulting of all to the collective intelligence of the masses when consider in the light of the crystal clear fact that inequality between nations has, if anything, greatly increased within the last several decades thanks to the functioning of the system of globalization. Neither does this claim hold water at the theoretical level. All the characteristics of imperialism depicted by the classical Marxist theory of imperialism, developed by Hilferding, Bukharin and Lenin, with significant contributions by Luxemberg and Trotsky, are truer today than when formulated at he beginning of last century. At the stage we have reached, we feel entitled to stage clearly that the specific thesis of bourgeois liberal globalization theory are mere fancies and that the imperialist nature of capitalism has hardly changed at all. It is now time to turn to the new reality, of which globalization theory is but a symptom and a refracted image. However important it is to lay bare the social force behind globalization and neoliberlism, a vulgar (i.e. non-marxist) understanding of the category capital may still lead to a kind of a conception where the adoption of the new strategy of globalization can be seen, in pure functionalist tradition, as the adaptation of the superstructure of economic policy to the shift of the fundamental structures of world capitalism. The very essential fact that the adoption of the neoliberal cum globalization strategy is in effect a class assault by the international proletariat and the working masses at large. Globalization is the strategy that aims to pit national sections of the international working class against each other. Globalization is the drive initiated by the international bourgeoisie to create a race to the bottom by re-establishing the full force of competition between countries and their working classes and masses. It is, then, true that globalization is an attack on the nation state, but only from a certain angle, Globalization tries to dismantle every aspects of the existing nation state that, over a certain period, had come to act as a bumper mechanism to tame the wild forces of market competition and create a defence for the working class and the masses at large. But globalization exercises, and can only exercise this impact on nation states with the active consent and participation of ruling classes of each state in question, even in those countries dominated by imperialism. For this kind of change acts not only in favour of the bourgeoisie of the imperialist countries, it also changes the domestic balance of forces within the dominated country in favor of the ruling classes at the expense of the working masses. Imperialist super-exploitation is concomitantly reinforced. The picture of globalization that emerges the fact that all so-called nation-states actively pursue policies that favour the capitalist class, both international and domestic. It is here that one can discover the real ideological function of the theory and ideology of globalization by declaring general, completed and irreversible a process that is only partial and only at its initial stages, globalization theory and ideology act disarm the great masses of working people and dissuade them from entering into struggle against what is in fact of matter a capitalist assault on their position. This, though is not the only factor that works to weaken the mass struggle against globalization and neoliberalism in general. GLOBALIZATION: GRASPED BY PROVOKATION :- With the near completion of the decolonization process which resulted in the birth of a host of afro-asian states in the 1960s, it was generally assumed that nationalism had passed its heyday. But the end of colonialism and the gradual emergence of an interdependent world seemed to suggest that the age of nationalism was well and truly over. Sovereign states were thus seen to be fighting a rearguard action as boundaries became porous and penetrable by unconventional intruders. But the events associated with the end of the cold-war, particularly the break-up of the former Soviet Union and Yugoslavia, have belied such claims. Increasingly, nationalist demands have been surfacing both in the developing and the developed countries. The cases of individual nation-states while being important must, however, be located within the broader context of the contemporary international order, the defining feature of which is globalization.it would appear that the world we live in at present is confronted by the contradictory pulls of nationalism and globalism. The essence of globalization being a closer integration of states and societies, overriding the particularist identities of people and nations, it should in theory stand opposed to nationalist urges. But it is argued that the very forces of invasive globalization has unleashed an extremely strong backlash in the form of resurgent nationalism with assertion of freedom in all sphere. What distinguishes people from one another rather than what unites them in finding new emphasis in many societies. The communication and the information revolution are highly appreciated for their association with globalization which has created a heightened awareness regarding particular issues and dealings among some nationalities, culminating in their demands for a separate nation-state. Thus reinforcing the disintegrative tendency within multi-ethnic states. Therefore, in this sense globalization has began its hastening the disintegration process in some states. Many multi-ethnic states in the communist blocs that had failed to satisfy the aspirations of the minorities began to be perceived as being captivated from which dissatisfied groups longed to escape. The global electronic revolution greatly facilitated such yearnings. The transmission of news and views across state boundaries not only tended to help in sensitizing the viewing public about their identities but also spurred them to act to realize their dreams for a national homeland. It was not surprising therefore to witness the emergence of several new states in the wake of the collapse of the Soviet Union and Yugoslavia. Globalization has also resulted in unification of divided countries like Germany and Yemen. This should be clear to any observer that the dynamics between globalization nationalism is a complex an overwhelming one. For many states, globalization is like the proverbial tiger which they are forced to ride but do not quite know when or how to get off. While they may react against its corrosive influence on their societies, they would be the last to deny themselves its benefits. It is this dilemma which haunts the policy-makers in many states who want to reconcile the influenceof western culture propagated through mass-media with the values of their traditional culture. Similarly, they see the benefits of integrating their economies with the global economies with the global economy but also become irritated by the idea of being dictated to by the outsiders. Thus, this aspect of globalization has set in motion a strong nationalist reaction in many countries. The globalization of production and finance undercuts national economic planning, eroding state sovereignty and the political identities it presupposes. In short, identities which were conventionally grounded in their particular state territoriality are are losing ground to a politics or new, or even non space. Empirically, the new times we live in are marked by dynamics of fragmentation, pluralism, decentralization, flexibilisation, and even globalization. In this sense, their theorizing is relatively more grounded and relevant to daily practice, even when it emerges from post modernist orientations. The feminists as well add to andgo beyond no-feminist perspectives by including womens lives, experiences and ways of knowing in the construction of knowledge claims. They demonstrate how masculinist constructions of subjects and subjectivity are disembodied and disembedded. The neglecting of history and presumption of territoriality have led to impoverished international relations theory, representing it as particularly inadequate in the context of globalization. Ignoring history has also led to a great loss or worsen the tendency towards static and reductionist understanding as many critics also have observed, that the prevailing theories deal poorly with change and simply deny the basic fundamental transformations. On the other hand, the raising of politics over economics has prevented the sophisticated and critical analysis of market dynamics. In the absence of such analysis, the globalization of capital has cleverly avoided our understanding: we rely too much on liberal-capitalist orthodoxies, we know too little about unstable and unregulated financial markets and non territorial power and we lack any kind of believable alternatives to a model which are ultimately self-destructive. Globalization: the scenario of global politics after the cold war The picture of the world is being viewed very differently than what it had been before the cold war. Where the capital is increasingly been moving, the labour is often not. The discourses of globalization and the focus on European transformations after the cold war often ignore the emergence of what critics are sometimes now calling global apartheid. Any issue or agenda for the critical study of world politics in the era of globalization must take into account the lives of the poorest people if it is to be appropriately comprehensive. Globalization has highly uneven geographies, despite the implicit assumptions of homogenization in most uses of the term. Given the inextricability of theory and practice, much is at stake in the formulation of knowledge about globalization. Consciousness does not singly and wholly create the social world, but it does play a significant role in the making of history. Orthodox (i.e., conservative and liberal) paradigms have the effect of containing the concept of globalization and by extension, the forces for structural disruption and transformation that this trend might include and move forward. Towards A Critical Theory of: Globalization The consequences of globalization will arguably one of the most wide ranging and unsettling systematic trends in contemporary history- had remained quite open and will be considerably influenced by the sorts of knowledge constructed about, and fed into the process. Till date, orthodox( and especially liberal) discourses have held higher hand, but there are ample of opportunities that remain to saving notions of globalization for critical theory and associated politics of emancipation. To some extend, no doubt globalization has been remained a buzzword, a term as having an end number of meanings as it is in particular. Much discussion of the global circumstance has been conceptually imprecise and empirically their. References to the global often still merge with ideas of international relations world system simply to denote the extension of social relations beyond national, state and country confines. But in this loose form ideas of globality say nothing particularly new could be applied as much to the seventeenth as the twentieth century. THE RISE OF GLOBALIZATION :- So the term globalization has been defined in various ways but here it can be understood here that globalization refers to the emergence and spread of supra territorial dimension of social relations. In institutional terms, the process has unfolded the proliferation and growth of so called transnational corporations, popular associations and regularity agencies sometimes they are even termed as global companies, global civil society. In ecological terms as well, globalization has taken place in shape of planetary climate change, atmospheric depletion, worldwide epidemics, and the decline of Earths biodiversity, among other things. Economically, what Karl Marx had anticipated as capitals annihilation of space by time or in simple terms complete destruction of capital, globality has been realized inter alia in twenty four hour round the world financial markets, whole world production lines and a host of global consumption articles. Normatively, globalization has occurred through the expansion of worldwide standards9 eg: common scales of measurement and so called universal human rights) as well as through non-territorial networks of collective solidarity. Even psychologically speaking, globalization has developed through growing consciousness of the world as a single place, an awareness reinforced by everyday experienced of fooding, music, socializing as well as pictures of outer space showing planet Earth as one location. In these ways, the rise of supra territoriality has been comprehensive and beyond much of all in some form and to some degree spanning all aspects of social relations. Although, globalization has been most pronounced, sort out and intense in recent years, on a smaller scale and at a slower pace the trend stretches back more than a century. It is claimed here that globalization has touched and influenced every person, location and sphere of activity on the planet, or each to the some extent nor that globalization is a linear and irreversible process even if it has appeared to have an overwhelming quality and in a basic form that globalization constitutes one and only as well primary motor of contemporary history, nor that territory, place and distance have lost all significance, nor that state and geopolitical have ceased to be important, nor that everyone enjoys equal access to an equal voice in and equal benefits from beyond the natural realm. The globalization entails regarding homogenization and of cultural differences, it also proclaims the birth of a world community with perpetual peace. The question also remains here whether, in what ways and to what extend does contemporary globalization has shaped, or might produce, a basic discontinuity in social history. Are there now certain distinctive global forms of social existence which transcend and even super side circumstances of locality, country and international relations? How, if at all, has globalization encouraged and reflected changes in social structure, and with what consequences for the human conditions? Conservatives tend to reject liberal enthusiasm for globalization as utopian and to ignore critical perspectives altogether. In academic circles, globalizations have been especially prevalent among proponents of so-called realist-international theory. This analysis holds that the world system is reducible to interstate competition for power. Perhaps realist arrogance contradicted intuitive awareness that globalization calls into question, traditional knowledge methodological nationalism territorialism- and thereby the very discipline of international relations and the realist vocation itself. Another stream of orthodox thinking liberalism, does acknowledge a reality of globalization, but regards the process uncritically as progressive and mild. In liberal discourse the terms internationalization and globalization are regularly used interchangeably, and cognizance of recent major transformations of social space is often underdeveloped. In liberal eyes, contemporary globalization offers the propect of at last fully realizing the promise of modernity. Neoliberalism, holds that globalization will yield this end of history more or less automatically critical accounts of globalization have chiefly developed along two broad methodological lines. On the one hand, historical-materialist analysis have interpreted the rise of supraterritoriality as a particular turn in capitalist development. On the other hand, what are broadly termed post modernist or post structuralist narratives have highlighted psychological and cultural oppressions that attend globalization. GLOBALIZATION AND ITS GLOBAL EMANCIPATION:- On the contrary, the case for critical theory is compelling. To date, globalization has often perpetuated poverty, widened material inequalities, increased ecological degradation, sustained militarism, fragmented communities, marginalized subordinated groups, fed intolerance and deepened crises of democracy. Globalization has helped to increase ecological consciousness and programmes to enhance environment sustainability. Many of the more globalised parts of the world have witnessed major and quite possibly structural disarmament in recent year and in so far as war is a struggle for territorial occupation, armed conflict may tend to decline as supra territorial interests gain greater sway. For some, globalization has fostered greater awareness of and respect for the diversity of human cultures. In relation to democracy, recent years have witnessed a spread of multiparty elections to many more countries, often with united nations oversight, nad a proliferation of supra territorial citizens action networks. Globalization has to date mostly been an extension of modernization. At the same time, the rapid rise wide ranging reach of this transformation of social space-the transcendence of territorialty- has brought great instability to capitalism, made traditional conceptions of sovereignty unviable, hightened worries about ecological sustainability, injected much confusion into the construction of identity and encouraged reactions against reason. To this extent, globalization has opened space for critical theory and a fundamental rethink of production, governance, ecology and community, as well as the nature and purpose of knowledge itself. GLOBALIZATION AND INTERNATIONAL RELATIONS AS A DISCIPLINE:- Perhaps the most obvious equality of discourses of globalization is their all-encompassing intention or nature, their orientation towards descriptions, explanations or theorizations of the whole, the global. This orientation clearly displays distinctive as well as common characteristics across different areas of substantive and theoretical interest in the field broadly defined as international relations these areas are numerous and diverse. They include global political economy, global commons and the role of global institutions. They are concerned in a range of ways with change and particular importance of technology, culture and global structures, processes and patterns of production, marketing and consumption. They renew a debate which has long preoccupied international relations scholars and practitioners concerning the changing capacities and influence of states as key actors. In developing discourses of globalization, international relationists confront two major challenges, both of which require a self conscious and self-critical recognition of the nature of their particular realm of thought and its established discursive practices. The first relates to the hybrid nature of international relations as a field of study , and the second concern the specific, most important dimension of this hybridity. It can be regarded as a strength in the context under discussion here that international relations scholars have always had to recognize the degree to which their subject, as a relatively young discipline, has relied on other long-established areas of thought, eg: philosophy, political theory, diplomatic history and political economy. Power continues to be a central preoccupation for the field of international relations, it needs to be considered more forcefully as a dimension of understanding the impact of the disciplines own hist