Business Finance

Multinational Business Finance, 12e (Eiteman, et al) Chapter 1 Globalization and the Multinational Enterprise 1. 1 Globalization and Creating Value in the Multinational Enterprise Multiple Choice 1) Which of the following are critical to a firm trying to reach the top of the â€Å"firm value pyramid†? A) An open market place. B) High quality strategic management. C) Access to capital. D) all of the above Answer: A Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 2) A well-established, large U.S. -based MNE will probably NOT be able to overcome which of the following obstacles to maximizing firm value? A) An open market place. B) High quality strategic management. C) Access to capital. D) none of the above Answer: D Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Recognition 3) A well-established, large China-based MNE will probably be most adversely affected by which of the follow ing elements of firm value? A) An open marketplace. B) High-quality strategic management. C) Access to capital.D) Access to qualified labor pool. Answer: A Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 4) A well-established, large, Brazil-based MNE will probably be most adversely affected by which of the following elements of firm value? A) An open marketplace. B) High-quality strategic management. C) Access to capital. D) Access to qualified labor pool. Answer: C Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual True/False ) Three necessary conditions for a firm to reach the top of the â€Å"firm value pyramid† are an open market place, high quality strategic management, and access to capital. Answer: TRUE Diff: 1 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 2) Comparative advantage is one of the underlying principles driving the growth of global business. Answer: TRUE Diff: 1 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Recognition Essay 1) List and explain three strategic motives why firms become multinationals and give an example of each.Answer: The authors provide 5 strategic motives for firms to become multinationals: market seekers, raw materials seekers, production efficiency seekers, knowledge seekers, and political safety seekers. Market seekers are looking for more consumers for their products such as automobiles or steel. Knowledge seekers may be looking for an educated work force similar to the way firms seeking R and D set up shop in university towns. Raw materials seekers may be after commodities such as oil or copper. Production efficiencies may occur in countries like Mexico that have capable workers and lower wages.Political safety seekers are looking for countries that will not expropriate their assets, so they may stay away from countries that in the post have engaged in such activities. Diff: 3 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 1. 2 The Theory of Comparative Advantage Multiple Choice 1) The theory that suggests specialization by country can increase worldwide production is ________. A) the theory of comparative advantage B) the theory of foreign direct investment C) the international Fisher effect D) the theory of working capital managementAnswer: A Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 2) Which of the following is NOT a reason governments interfere with comparative advantage? A) Governments attempt to achieve full employment. B) Governments promote economic development. C) National self-sufficiency in defense-related industries. D) All are reasons governments interfere with comparative advantage. Answer: D Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 3) Which of the following factors of p roduction DO NOT flow freely between countries? A) Raw materialsB) Financial capital C) (Non-military) Technology D) All of the above factors of production flow freely among countries. Answer: A Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 4) Which of the following would NOT be a way to implement comparative advantage? A) IBM exports computers to Egypt. B) Computer hardware is designed in the United States but manufactured and assembled in Korea. C) Water of the greatest purity is obtained from wells in Oregon, bottled, and exported worldwide. D) All of the above are examples of ways to implement comparative advantage.Answer: D Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Conceptual 5) Of the following, which would NOT be considered a way that government interferes with comparative advantage? A) Tariffs. B) Managerial skills. C) Quotas. D) Other non-tariff restrictions. Answer: B Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition True/False 1) The theory of comparative advantage owes it origins to Ben Bernanke as described in his book The Wealth of Bankers. Answer: FALSE Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition ) International trade might have approached the comparative advantage model in the 19th century, and it does so even more today. Answer: FALSE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Conceptual 3) Comparative advantage shifts over time as less developed countries become more developed and realize their latent opportunities. Answer: TRUE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 4) Comparative advantage in the 21st century is based more on services and their cross border facilitation by telecommunications and the Internet.Answer: TRUE Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 5) Comparative advantage was once the cornerstone of international trade theory, but tod ay it is archaic, simplistic, and irrelevant for explaining investment choices made by MNEs. Answer: FALSE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 1. 3 What Is Different about Global Financial Management? Multiple Choice 1) Which of the following domestic financial instruments have NOT been modified for use in international financial management? A) Currency options and futures.B) Interest rate and currency swaps. C) Letters of credit. D) All of the above are domestic financial instruments that have also been modified for use in international financial markets. Answer: D Diff: 2 Topic: 1. 3 What Is Different about Global Financial Management? Skill: Recognition True/False 1) MNEs must modify finance theories like cost of capital and capital budgeting because of foreign complexities. Answer: TRUE Diff: 2 Topic: 1. 3 What Is Different about Global Financial Management? Skill: Recognition 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational FirmMultiple Choice 1) In determining why a firm becomes multinational there are many reasons. One reason is that the firm is a market seeker. Which of the following is NOT a reason why market seeking firms produce in foreign countries? A) Satisfaction of local demand in the foreign country. B) Satisfaction of local demand in the domestic markets. C) Political safely and small likelihood of government expropriation of assets. D) All of the above are market-seeking activities. Answer: C Diff: 2 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition ) ________ investments are designed to promote and enhance the growth and profitability of the firm. ________ investments are designed to deny those same opportunities to the firm's competitors. A) Conservative; Aggressive B) Defensive; Proactive C) Proactive; Defensive D) Aggressive; Proactive Answer: C Diff: 2 Topic: 1. 4 Market Imperfections: A Rationale for the Existen ce of the Multinational Firm Skill: Recognition True/False 1) For firms competing in a world characterized by oligopolistic competition, strategic motives can be subdivided into proactive and defensive investments. Answer: TRUEDiff: 1 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition 2) Defensive measures are designed to enhance growth and profitability of the firm itself. Answer: FALSE Diff: 1 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition 1. 5 The Globalization Process Multiple Choice 1) The phase of the globalization process characterized by imports from foreign suppliers and exports to foreign buyers is called the A) domestic phase. B) multinational phase. C) international trade phase.D) import-export banking phase. Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 2) The authors describe the multinational phase of globalization for a firm as one characterized by the A) ownership of assets and enterprises in foreign countries. B) potential for international competitors or suppliers even though all accounts are with domestic firms and are denominated in dollars. C) imports from foreign suppliers and exports to foreign buyers. D) requirement that all employees be multilingual. Answer: A Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition ) A firm in the International Trade Phase of Globalization A) makes all foreign payments in foreign currency units and all foreign receipts in domestic currency units. B) receives all foreign receipts in foreign currency units and makes all foreign payments in domestic currency units. C) bears direct foreign exchange risk. D) none of the above Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Conceptual 4) Of the following, which was NOT mentioned by the authors as an increase in the demands of financial management services due to increased globalization b y the firm?A) Evaluation of the credit quality of foreign buyers and sellers. B) Foreign consumer method of payment preferences. C) Credit risk management. D) Evaluation of foreign exchange risk. Answer: B Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 5) Of the following, which was NOT mentioned by the authors as an increase in the demands of financial management services due to increased globalization by the firm? A) Evaluation of the credit quality of foreign buyers and sellers. B) Foreign consumer method of payment preferences. C) Credit risk management.D) Evaluation of foreign exchange risk. Answer: B Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 6) The authors describe the multinational phase of globalization for a firm as one characterized by the A) ownership of assets and enterprises in foreign countries. B) potential for international competitors or suppliers even though all accounts are with domestic firms and are denominated in dollars . C) imports from foreign suppliers and exports to foreign buyers. D) requirement that all employees be multilingual. Answer: A Diff: 2 Topic: 1. 5 The Globalization ProcessSkill: Recognition 7) The twin agency problems limiting financial globalization are caused by these two groups acting in their own self-interests rather than the interests of the firm. A) Rulers of sovereign states and unsavory customs officials. B) Corporate insiders and attorneys. C) Corporate insiders and rulers of sovereign states. D) Attorneys and unsavory customs officials. Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition True/False 1) Typically, a firm in its domestic stage of globalization has all financial transactions in its domestic currency.Answer: TRUE Diff: 1 Topic: 1. 5 The Globalization Process Skill: Conceptual 2) Typically, a â€Å"greenfield† investment abroad is considered a greater foreign investment having a greater foreign presence than a joint venture with a foreign firm. Answer: TRUE Diff: 1 Topic: 1. 5 The Globalization Process Skill: Recognition 3) The authors argue that financial inefficiency caused by influential insiders may prove to be an increasingly troublesome barrier to international finance. Answer: TRUE Diff: 2 Topic: 1. 5 The Globalization Process Skill: Conceptual

Accounting Principles and Practices Performed by Small Businesses in the Philippines

College of Business Administration Abstract: This research aims to gain the knowledge and awareness on the accounting practices done by small businesses. It aims to inform and learn about small businesses’ and their compliance to the standard practices of accounting in the Philippines, whether or not these businesses are following the basic accounting principles and what alternatives of accounting do they perform.And lastly, to provide recommendations to the businesses owners and other persons involved, on what accounting practice is more suitable for small businesses. Through the use a variety of reference materials, such as reference books, text books and internet sources, information related to the study has been compiled and put together to form the appropriate knowledge needed for the study.Through the findings, the researchers classified two types of accounting practices performed by small businesses: Formal Accounting, this accounting practice is based on the actual Phi lippine accounting standard provided by the IFRS, and a Semi-Formal Accounting, a combination of the IFRS accounting and the Single entry record system. Keywords: Accounting, Accounting Principles, Accounting Practices, Small Business, Small Business Accounting Introduction There are more than a million businesses spread throughout the Philippines.From high rising commercial entities in the big cities, to the smallest businesses found in the front yard of residential homes in rural or urban areas. Business can be defined as a person, partnership, or corporation that seeks to provide goods and services to others at a profit (Dias and Shah, 2009) Businesses are among one of the factors affecting the economic growth in the country. Generally, taxes and investments earned by these businesses, through the purchases of their consumers, are paid to the Government. Small and medium-scale enterprises (SMEs) play a significant role in developing economies.Among their contributions are as foll ows: (a) they address poverty by creating jobs and by increasing incomes; (b) they disperse economic activities in the countryside, and provide broad-based sources of growth; (c) they serve as suppliers and providers of support services for large enterprises; (d) they stimulate entrepreneurial skills among the populace; and (e) they act as incubators for developing domestic enterprises into large corporations. SMEs typically comprise the bulk of business enterprises in both developed and developing countries.They also employ a large segment of a country's workforce, and contribute significantly to national output (Habaradas, 2008) However, not all businesses contribute to the economic growth of the country especially for small independent businesses in private homes. Such examples are self-employed proprietors and street vendors whose businesses are not registered to the Bureau of Internal Revenue (BIR). Legally registered businesses (small businesses) on the other hand, contribute to the economic growth through payments of taxes collected by the Bureau of Internal Revenue.Such businesses record transactions or accounting information to keep track and allocate assets, liabilities and the owner’s equity. Through this accounting information, the owners will be able to allocate their assets for the expenses of tax payments. It may be said that the accounting practice is for formalities and usually performed by large business entities. However it is important for small businesses to apply the accounting practices in order to easily keep track and record important transactions especially those which concern large amounts of money.Accounting is important in achieving success in any business, especially a small one. Accounting is tied to the business’ financial well bing, without it, it will be hard to determine whether there is a positive or negative increase to the profit of the business. Accounting records must accurately reflect the changes occurrin g in the firm’s assets, liabilities, income, expenses and equity. The continued operation of a business depends on maintaining the proper balance among its investments, revenues, expenses and profit.Because profit margins are so critical to the success of a business, any decline should trigger an immediate search for the cause. Thus, the owner must rely on the accounting information to search this cause (Byrd and Megginson, 2009) The purpose of a business is to make a profit; proper business accounting helps determine how well the business runs. Accounting is the general process of tracking income and expenses and then using that data to examine the financial status of a business. (Strauss, 2005) The accounting practices performed by larger businesses are usually formal, specific and detailed and done by certified accountants.Small business accounting may be performed in various styles, with no formality and proper structure, and usually done by the owners themselves. A varie ty of accounting styles maybe derived from the informal accounting performed by small businesses. Some styles may have the same structure, making it similar to other businesses thus having slight uniformity. Review of Related Literature Small Businesses A small Business is any business that is independently owned and independently owned and operated, is not dominant in its field, and does not engage in many new or innovative practices.It may never grow large, and the owners may not want it to, as they usually prefer a more relaxed and less aggressive approach to running the business. They manage their business in a normal way, expecting normal sales, profits, and growth. In other words, they seek a certain degree of freedom and ideally a certain degree of financial independence. (Byrd ;amp; Megginson, 2009) Accounting Accounting is a service activity; Its function is to provide quantitative information, primarily financial in nature, about economic entities that is intended to be us eful in making economic decision.Accounting includes several branches, for example, financial accounting, managerial accounting, and government accounting. This statement deals with financial accounting for business enterprises, the branch of accounting that focuses on the general-purpose reports on financial position and results of operations known as financial statements. This Statement has two broad purposes: (A) to provide a basis for enhanced understanding of the broad fundamentals of financial accounting, and (B) to provide a basis for guiding the future development of financial accounting. n. d. , 1998) Financial statements are prepared and presented for external users by many entities around the world. Although such financial statements may appear similar from country to country, there are differences which have probably been caused by a variety of social, economic and legal circumstances and by different countries having in mind the needs of different users of financial sta tements when setting national requirements.The accounting conceptual framework, formerly known as the Framework for the Presentation of financial Statements by the IASC, serves as the foundation for the development of accounting standards by the International Accounting Standards board. It’s main objective is to narrow the differences in financial statements of different entities by harmonizing regulations, accounting standards and procedures relating to the preparation and presentation of financial statements. (Robles ;amp; Empleo, 2007) Structure of the Philippine AccountingThe Framework for the preparation and presentation of financial statements adopted in the Philippines is based on the International Accounting Standards Committee’s (IASC) Framework for the Preparation and presentation of Financial Statements. This was approved in the Philippines on January 26, 2000 by the unanimous vote of the members of the Accounting Standards Council (ASC). The ASC was the fun ctioning accounting standard setting body in the Philippines, when the Philippines decided to adopt the International Accounting Standards.The same Framework was upheld by the International Accounting Standards Board, when the latter succeeded the International Accounting Standards Committee in 2001. In the Philippines, the ASC was succeeded by the currently functioning Financial Reporting Standards Council (FRSC). The FRSC assists the Board of Accountancy in the latter’s function of adopting and promulgating the International Financial Reporting Standards. Thus, both the IASB and the locally functioning FRSC in the Philippines are guided by the same Framework. Robles ;amp; Empleo, 2007) The IFRS for SMEs The Philippine Institute for Public Accountants (PICPA) now recognizes the International Accounting Standards Board's (IASB) recently released International Financial Reporting Standard for Small and Medium-Sized Entities (IFRS for SMEs), as an official set of accounting sta ndards to be audited against. (Brozovsky, Christie & Hicks, 2010) The IFRS for SMEs was adopted in the Philippines effective January 1, 2010, and is known as the Philippine Financial Reporting Standards for Small-Medium Entities (PFRS for SMEs).The Philippine Securities and Exchange Commission (SEC) adopted a definition of â€Å"small and medium-sized entities† that includes a size criterion. As defined by SEC, an entity is an SME if: it is not in the process of filing its financial statements for the purpose of issuing any class of instruments in a public market and, it is not a holder of a secondary license issued by a regulatory agency, such as bank (all types of banks), an investment house, a finance company, an insurance company, a securities broker / dealer, a mutual fund and a pre-need company.The Philippines has been acknowledged by political scientists and economists as a newly industrialize nation. The country is experiencing rapid economic growth usually export -oriented and on-going industrialization. The Accounting Standards Council (ASC) is responsible for establishing and improving generally accepted accounting standards. Development of such standards are based on existing practices in the country, as well as statements and studies issued by other standard setting bodies like the International Accounting Standards Committee (IASC) and the Financial Accounting Standard Board (FASB).The ASC, which was renamed as the Financial Reporting Standards Council (FRSC) decided to replace its US-based standards with International Accounting Standards (IAS), later referred to as IFRS. The Philippines also adopted the International Financial Reporting Standards in 2005. It modified its accounting practices slightly to adjust to Philippine policies making the Philippine Financial Reporting Standard (PFRS), and the Philippine Accounting Standards (PAS).Businesses are fully aware of the changes from GAAP to IFRS, which now apply the new IFRS procedures , and modifications that were implemented taking effect in 2009. These companies are now preparing their financial statements in compliance with the PFRS. The Philippines has fully implemented the IFRS. In April 2010, The Philippines adopted IFRS for SMEs referred to as Philippine Financial Reporting Standard for SMEs. These standards can be used by an entity that is not a listed company, a large unlisted company, and a financial institution or public utility. (Ibarra & Suez-Sales, 2011)The International Accounting Standards Board ( IASB ) was established in 2001 as part of the International Accounting Standards Committee ( IASC ) Foundation. One of the objectives of the IASC foundation and of the IASB is: to develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that are require high quality, transparent and comparable information in financial statements and other financial reporting to help participants in the world’s capital markets and other users make economic decisions.The IASB also develops and publishes a separate standard intended to apply to the general purpose and other financial statements of, and other financial reporting by, entities that in many countries are referred to by a variety of terms, including small and medium-sized entities (SMEs), private entities, and non-publicly accountable entities. That standard is the International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs).SMEs often produce financial statements only for the use of tax authorities or other governmental authorities. Financial statements produced solely for those purposes are not necessarily general purpose financial statements. (Alliance of Accounting and Auditing Researchers, n. d. ) Accounting Policies The IFRS for SMEs is indented for the use of small and medium sized entities (SMEs). Small and medium-sized entities are entities that do not have public account ability, and publish general purpose financial statements for external users.Examples of external users include owners who are not involved in managing the business, existing and potential creditors and credit rating agencies. Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. If this IFRS specially addresses a transaction, other event or condition, an entity shall apply this IFRS. However, the entity need not to follow a requirement in this IFRS in the effect of doing so would not be material.If this IFRS specifically address a transaction, other event or condition, an entity’s management shall use its judgement in developing and applying an accounting policy that results in information that is relevant to the economic decision-making needs of users, and reliable, in that the financial statements represent faithfully the financial position, financial performance and c ash flow of the entity; reflect the economic substance of transactions, other events and conditions, and not merely the legal form; are neutral, i. . free from bias; are prudent; and are complete in all materials respects. An entity shall select and apply its accounting policies consistently for similar transactions, other events and conditions, unless this IFRS specifically requires or permits categorisation of items for which different policies may be appropriate. If this IFRS requires or permits such categorisation, an appropriate accounting policy shall be selected and applied consistently to each category.An entity shall change an accounting policy only if the change is required by changes to this IFRS, or results in the financial statements providing reliable and more relevant information about the effects or transactions, other events or conditions on the entity’s financial position, financial performance or cash flows. (Alliance of Accounting and Auditing Researchers, n. d. ) Need of Accounting Information for Small Businesses In order to operate a business effectively, the owner should be informed as to the nature and amount of each asset, each liability, and the amount of owner’s equity.For purposes of planning and controlling business operations, the owner should also know when, why and how frequently changes occurs in the various assets, liabilities and the owner’s equity of the business. Without written records, business owners are not able to keep track of the nature and the amount of the assets, liabilities, and owner’s equity and the changes that occur in their composition. A good record keeping system is usually essential to provide the necessary information.This system of record keeping should show the effect of each transaction on the assets, liabilities and owner’s equity of the business. (Taylor, 2003) Proper Business Records There are several reasons (and advantages) for keeping good business records, an d many of them are a real a real advantage: (1) to show financial standings, (2) to help make important financial decisions, (3) to help control VAT – collecting it in and paying it out, (4) to help audit in certain cases, and keep the auditing costs down, (5) to discuss your financial position with other people.Unless the owners decide otherwise, there is no legal need for an annual audit of the records of a sole trader or a partnership. There is, however, a legal obligation for an annual audit of the accounts of most limited companies. There will be some expenses which are partly for business and partly for private purposes. Recording of business transactions also depends on the size of the business. There can be no hard and fast categories for size of a business. But obviously a national chain store will have a more sophisticated accounting system than a local trader with a market stall.The point at which more complicated records needed, will also depend partly on the type of trade. There are three types of entity commonly found running a business. These are: Sole traders, Partnerships and Limited Companies. Sole traders are persons owning the business which he is running in his own right. Since the person is trading in his own right he is personally responsible for any debts his business incurs. Partnerships are groups of people owning and running the business. It is the individuals in the partnership who are responsible for the partnership debts.Limited Companies are businesses which are owned by at least two people who may or may not also be involved in the day-to-day running of the business. The owners have a limited personal liability for the debts incurred by the company which is a separate legal ‘person’ or entity. The day-to-day running of a limited company is entrusted to its directors. The directors of a company may also be the shareholders. (Taylor, 2003) Businesses can also be classified into three broad categories: public co mpanies, private companies, and small businesses.The distinction between the latter two is the size of the company. Though small, these businesses are important in the aggregate as the major creator of new jobs. Small businesses also constitute a major source of clients for local and regional CPA firms. The need for accounting reports varies among the three classes of businesses. Accounting reports are used to comply with various government reporting requirements. Primary among these is the need to report a business's income, personal property, and payroll to the necessary tax authorities.The relative importance of different uses of accounting reports varies with the size of the business. (Brozovsky, Christie ;amp; Hicks, 2010) Accounting Principles and Practices Most businesses typically use one of two basic accounting methods in their bookkeeping systems: cash basis and accrual basis. While most businesses use the accrual basis, the most appropriate method for a company depends on the sales volume, whether or not you sell on credit, and your business structure. The cash method is the most simple in that the books are kept based on the actual flow of cash in and out of the business.Income is recorded when it is received, and expenses are reported when they are actually paid. The cash method is used by many sole proprietors and businesses with no inventory. From a tax standpoint, it is sometimes advantageous for a new business to use the cash method of accounting. That way, recording income can be put off until the next tax year, while expenses are counted right away. With the accrual method, income and expenses are recorded as they occur, regardless of whether or not cash has actually changed hands. An excellent example is a sale on credit.The sale is entered into the books when the invoice is generated rather than when the cash is collected. Likewise, an expense occurs when materials are ordered or when a workday has been logged in by an employee, not when t he check is actually written. The downside of this method is that payment of income taxes on revenue are made before actually receiving it. The accrual method is required if annual sales exceed $5 million and the venture is structured as a corporation. In addition, businesses with inventory must also use this method.It also is highly recommended for any business that sells on credit, as it more accurately matches income and expenses during a given time period. The cash method may be appropriate for a small, cash-based business or a small service company. (Leonsky, 1998) Accounting is the general process of tracking your income and expenses and then using that data to examine the financial status of your business. The basic accounting tool is the general ledger. It is the place where you keep track of all the business’ financial transactions.That information is then used to create financial statements such as balance sheets and income statements. (Strauss, 2007) An accounting system structures the flow of financial information to provide a complete picture of a firm’s financial activities. There are two types of accounting systems performed by small businesses: (1) the single-entry system and (2) the double-entry system. The single-entry record-keeping system is occasionally still found in the very small business. It is not, however, a system recommended for firms that are striving to grow and achieve effective financial planning.A single entry-system neither incorporates a balance sheet nor directly generates and income statement. A single-entry system is a check book system of accounting reflecting only receipts and disbursements. A double-entry system is a type of accounting system that provides a self-balancing mechanism in the form of two counterbalancing entries for each transaction recorded. It can be done with the record-keeping journals and ledgers found in most office supply retail stores. However, the relatively simple accounting softwa re programs designed for small firms are preferable. Longenecker, 2006) Conclusion Based on the information gathered by the researchers, the researchers have come up with a conclusion to the stated problem. The researcher has classified two types of accounting practice/principles performed by small businesses namely: Formal Accounting and Semi-Formal Accounting. Formal Accounting practice are based on the standards of the International Financial Reporting Standard for Small and Medium-Sized Entities (IFRS for SMEs) The IFRS for SMEs is indented for the use of small and medium sized entities (SMEs).Small and medium-sized entities are entities that are defined as not having public accountability, and do not publish general purpose financial statements for external users. The Semi-Formal Accounting practice is a combination of the Formal Accounting Practice (based on the IFRS for SMEs), and the Single-entry record keeping or booking keeping system. In the Single-Entry system, mostly pe rformed by small businesses, business owners record only the most important or essential transactions for the business which usually contain only the following: cash, accounts receivable, accounts payable and taxes.However, by performing this system, the owners still apply some of the standards given by the IFRS for SMEs. Most businesses however, perform only the Single-entry system. It is a much easier and convenient accounting practice that is preferable by the owners of small businesses because of its comprehensiveness in storing only the important accounting information needed by such businesses. Recommendation The Single-entry system, for most business owners, is mostly performed for its convenience and completeness. The researcher recommends, however, for the owners to apply the Formal accounting practice.The IFRS for SMEs, established by the IASB, was made specifically for small businesses to use. This accounting standard is best recommended for small businesses to attain uni formity among all other businesses alike. This will not only provide advantage to the owners but also to the users of the accounting information. It is still reminded that smaller businesses; such as vendors, sari-sari stores, restaurants or eateries; are not recommended to perform such complicated accounting practice but, they are still advised to record accounting information.The recommended accounting practice for such businesses is the Single-entry system. The researchers provide further recommendations toward the persons involved: 1. To the Business Owners of small businesses, they must obey and follow the accounting standards of the International Financial Reporting Standard for Small-Medium Entities (IFRS for SMEs), mentioned in this research, to attain uniformity among other small businesses which practice the accounting standard of the IFRS. 2.To the College of Business Administration and its faculty members, in which they can use this research as an instructional material or instrument in teaching their students about topics relating to the research. 3. To the Graduates of the College of Business Administration, who plans to have their own business or put up a small business; that this research may serve as a reference and as a guide for their first steps in being entrepreneurs. 4. To the Students of the College of Business Administration, in which they can use this research as a reference material to their academic studies.Bibliography 1. Alliance of Accounting and Auditing Researchers. (n. d. ). International / Philippine Financial Reporting Standard for Small and medium-sized entities (IFRS / PFRS for SME’s). n. d. 2. Brozovsky, John, Nancy Christie, ;amp; Sam Hicks. (2010, July). Accounting for small businesses: the role of IFRS. Academic OneFile. Retrieved July 17, 2012, http://go. galegroup. com/ps/i. do? id=GALE%7CA234140898;amp;v=2. 1;amp;u=lyceumph;amp;it=r;amp;p=AONE;amp;sw=w 3. Byrd, Mary Jane ;amp; Megginson, L. C. (2009).Small Bus iness Management An Entrepreneur’s Guidebook. (Seventh Edition). New York: McGraw-Hill. 4. Dias, Laura ;amp; Shah, A. J. (2009). Introduction to Business. New York: McGraw-Hill. 5. Habaradas, Raymund B. (2008, March). SME development and technology upgrading in Malaysia: lessons for the Philippines. Academic OneFile. Retireved July 17, 2012, http://go. galegroup. com/ps/i. do? id=GALE%7CA204419292;amp;v=2. 1;amp;u=lyceumph;amp;it=r;amp;p=AONE;amp;sw=w 6. Ibarra, Venus and Suez-Sales, M. G. (2011, December). A comparison of the International

A Multi-Disciplinary Approach to Teaching Cross-Cultural...

A MULTI-DISCIPLINARY APPROACH TO TEACHING CROSS-CULTURAL COMMUNICATION Paul Kalfadellis Working Paper 34/05 May 2005 DEPARTMENT OF MANAGEMENT WORKING PAPER SERIES ISSN 1327–5216 Abstract The ability of managers to interact with individuals from cultures other than their own, requires a concerted effort on the part of business educators and academics to ‘train’ and ‘educate’ today’s students and tomorrow’s managers in the area cross-cultural communication. This is not necessarily an easy task. Teaching cross-cultural communication requires a multidisciplinary approach, which goes beyond what is traditionally offered by trainers and educators. It requires the educator to design a course that includes not only culture-general but also†¦show more content†¦The training helps contribute to people’s cross-cultural competency and enables them to develop an awareness of cultural difference (Gannon Poon, 1997; Gudykunst, Ting-Toomey, Wiseman, 1991; Milhouse, 1996). Black and Mendenhall (1990) suggested that cross-cultural training provides for positive outcomes in terms of people’s cross-cultural skill development, adjustment and performance. Cross-cultural training for expatriate managers was found to have a strong impact on cross-cultural skill development, adjustability and job performance (Deshphande Viswesvaran, 1992). Gannon and Poon (1997), in a study of MBA students undergoing crosscultural training and education as part of their course, found that that cross-cultural training promoted cultural awareness and confidence on the part of students. This study confirms the general proposition that cross-cultural training increased people’s level of confidence in dealing with others of different cultural backgrounds (Milhouse, 1996). 2 EDUCATION AND TRAINING: WHAT’S THE DIFFERENCE? After World War II, a plethora of theories, research agendas and training methods developed to aid the cross-cultural sojourner which helped the development of cross-cultural communication as an separate discipline of study (Brislin Yoshida, 1994; Milhouse, 1996). TheShow MoreRelatedDoing Ethics Technique4045 Words   |  17 PagesAJIS vol. 10 no. 2 May 2003 DOING ETHICS: A UNIVERSAL TECHNIQUE IN AN ACCESSIBILITY CONTEXT Christopher R. Simpson1, Liddy Nevile2, Oliver K. Burmeister3 1 Adjunct Teaching Fellow, School of Information Technology, Swinburne University of Technology, Australia, E-mail: csimpson@swin.edu.au; 2 E-mail: Liddy.Nevile@motile.net; 3 Swinburne Computer-Human Interaction Laboratory, School of Information Technology, Swinburne University of Technology, Australia, E-mail: oburmeister@it.swin.edu.au;Read MoreResearch-Based Practice with Families in Stress Pediatric nurse practitioners in primary health2500 Words   |  10 Pagesmanagement (6 months or more) (Corbin, 2001). In 1991, Juliet Corbin and Anselm Leonard Strauss developed the Chronic Illness Trajectory Framework Nursing Model. The trajectory framework provides a conceptual basis that gives direction for practice, teaching, and research in the area of chronic illness (Corbin Strauss, 1991). Trajectory, the major concept in the chronic illness framework, is defined as a course of illness over time, plus the actions taken by patients, families, and professionals toRead MoreStatement of Purpose23848 Words   |  96 Pages.......................................................................................... 8 I. Social Sciences ........................................................................................................................ 8 Education: Teaching English as a Second or Other Language (TESOL)—non-native English Speaker ......................... ........................................................................................................... 8 Environmental Studies ...............Read MoreParacetamol4058 Words   |  17 Pagesassessment. (Daniels et al 2007).A study carried out by (Lautenbacher and Fillingim 2004) argued that,† anxiety in the form of anticipation of unpleasant and in particular noxious events can increase pain sensitivity†. Physiological, psychological, and cultural factors have shown to influence the perception of pain in patients. Making time to address these factors can only be achieved by developing a therapeutic relationship in which there is trust and confidentiality Main et al,( 2007). Thus, as nursesRead MoreUnderstand the Relationship Between Organizational Structure and Culture.8544 Words   |  35 Pagesorganization and ii. Informal organisation. A formal organization is one which is deliberately constructed to fulfil specific goals’. It is characterized by planned division of responsibility and a well-defined structure of authority and communication. ‘An informal organization is one which loosely structured, flexible and spontaneous, fluctuating with its individual membership’. Examples of an informal organization are colleagues who tend to lunch together. Organizational structure: ThereRead MoreCache Level 3 Award, Level 3 Certificate and Level 3 Diploma in Child Care and Education15197 Words   |  61 Pagesfood for children Child, family and outside world Working with children with special needs Developing children’s (3-8 years) mathematical skills Developing children’s (3-8 years) communication, language and literacy skills International approaches towards children’s education Working with babies from birth to 12 months Multi-agency working with children Children, parent and family needs Supporting children with English as an additional language Unit 1 – An introduction to working with children CriteriaRead MoreComparative Education13537 Words   |  55 Pagesevolution as the weakness of the knowledge meaningful expressed in the national curriculum, weakness that reinforce the weakness of the TE in front of other subjects as math, literature, foreign language†¦ Many works tried to analyse this particular approach but their audience never really get out the little sphere of TE investigators. A birthday is more the occasion to open perspective and project some ideas and the experience taught us that the position of TE is more a question of social positioningRead MoreOrganisational Behaviour and Work4432 Words   |  18 Pageswork effectively.’ Available from: http://www.akdn.org/publications/civil_society_booklet5.pdf [7 July, 2012] The organisational structure may explain within illustrated chart or graph. The hierarchical typical framework outlined of authority and communications, what allocates rights and duties, a structure depends on organisation objectives plus strategy. a.e.: In the centralized structure a decision making power of centralized the top layer management plus control functions to manage required departmentsRead MoreEssay On Communication And Professional Relationships With Children7131 Words   |  29 PagesCACHE LEVEL 3 SUPPORTING TEACHING AND LEARNING IN SCHOOLS AWARD FINAL 1. In your own words summarise the major learning points from the whole of the study programme with particular reference to:  · Communication and professional relationships with children, young people and adults  · Schools as Organisations  · Understanding child and young person development  · Understand how to safeguard the wellbeing of children and young people Communication and professional relationships with children, young peopleRead MoreTravel and Tourism Administration Program Structure20692 Words   |  83 PagesElectives: One of the following two 19 ACC214 Managerial Accounting 20 MAR101 Marketing Principles 2 2 TOTAL 18hrs 18cr SEMESTER FOUR Compulsory subjects: 21 MAT202 - Data Analysis 3 3 22 COM218 - Data Communications and Computer Networks 4 4 23 COM209 - Human Computer Interaction 4 4 24 COM214 - Data Structures 4 4 25 Electives: One of the following two LAW311 Business Law 26 MAR201 International Marketing 3 3 TOTAL 18hrs

Development Of Innovative Educational Methodologies

According to Hall (2005, pp188), â€Å"Insight into the educational, systemic and personal factors, which contribute to the culture of professions, can help guide the development of innovative educational methodologies to improve inter-professional collaborative practice.† IPE is integral in a healthcare environment, and serves to allow individuals within the healthcare profession to gain an appreciation for differing roles. Using the Kolb’s Learning Cycle (1984), I will chronologically reflect upon my experiences of IPE, considering concrete experience, reflective observation, abstract conceptualisation and active experimentation. After having exchanged pleasantries, individuals seemed coy and as theorised by Tuckman (1965), it was inherent that our team was in the forming stage of development within a small group. Polite and perfunctory conversation took place, which made it difficult to progress with the task in hand. Having worked as a member of teams in the past, it was pertinent to use what little time we had wisely and I felt it necessary to adopt the role of a team leader, akin to that theorised by the Hersey-Blanchard Situational Leadership ® model. Here, I styled my leadership in the manner of selling the task providing information and direction which, accompanied by communication from individuals in the team, would lead to the â€Å"sale† of the task and potential delegation of responsibilities and progression with it. However, there were barriers to progress in that; uponShow MoreRelatedElementary Secondary Education Act Of 1965 And Its Versions No Child Left Behind Act1488 Words   |  6 Pagesto construct education. Educational reform continues to be complex with ever changing politicians and platforms failing to have the time to create long lasting systematic changes but also not fully grasp educational challenges collectively. Educational reform such as Elementary Secondary Education Act of 1965 and its versions No Child Left Behind Act and Every Child Succeeds Act 2015 has changed the way students learn and teachers teach. The need for continued educational innovations is of the utmostRead MoreEnhancing Knowledge Mobilization As Part Of Graduate Coursework1581 Words   |  7 Pageswhile the participating in an innovative and authentic learning experience. Rationale: Regardless of technological ingenuity, the effectiveness of any educational technology (EdTech) is dependent on its ability to address the needs of practitioners. Unfortunately, while most entrepreneurs have advanced technical training, they often lack a comprehensive understanding of pedagogy, educational research and the realities of being a classroom teacher. This lack of educational insight can greatly hamperRead MoreThe University Of Mississippi State University Essay1000 Words   |  4 PagesUniversity Accreditation Details - Southern Association of Colleges and Schools’ Commission on Colleges. -Psychology programs are accredited by the American Psychological Association (APA) and the Council for Accreditation of Counseling and Related Educational Programs. Mississippi State University Application Requirements Admission to Mississippi State University is only granted to high school graduates who meet certain requirements. They must have a minimum 3.2 GPA on the College Preparatory CurriculumRead MoreI Want to Pursue my Ph.D. at the University of Tsukuba1048 Words   |  4 Pagespeaceful, sustainable development. And I see myself in this globally developing world as a facilitator to lubricate the process of intercommunication. Therefore a chance to study by this programme will make a step even a leap closer to my destination. I am honored to apply to this programme, as I have full competence in the field of Kazakhstani context of education. Now I am aimed to go further and acquire deep knowledge of international relations in the context of social and educational interconnectionRead MoreCurriculum and Syllabus Design1684 Words   |  7 Pagesstandard(Bab 1 pasal 1 ayat 15), KTSP is an operational curriculum developed and implemented in each educational unit. KTSP is the refinement of the c urriculum 2004. Based on that definition, the school was given full authority to develop and implement the curriculum. KTSP( SBC ) was implemented according to the ability of schools by providing greater autonomy to the principal in the development of curriculum for each school to know more about the condition of their education unit. 2. CURRICULUMRead MoreA Research Study On The Presidential Fellowship Essay1088 Words   |  5 PagesThe Presidential Fellowship emphasizes innovative scholarly work, interdisciplinary inquiry and engagement, leadership, and outreach. Thanks to my training in HDSP, I have conduct meaningful and significant research, interacted with audiences from a variety of fields and backgrounds, and engaged with communities within and outside Northwestern. I believe I fulfill the requirements for the Fellowship and would make a great candidate for HDSP to nominate. To show this, I will address my research achievementsRead MorePathology, Perception, Medical, And Knowledge Development1580 Words   |  7 PagesPathology is fundamental need for a doctor in medical practice because pathology plays an important role in diagnosis of disease followed by treatment. There is a key role of department of pathology for skills and knowledge development in medical students. Skills and knowledge development are depends on the perception of medical students. Perception is always evaluated by the assessment during the course. There are two forms of assessments in medical education: formative and summative; and two types ofRead MoreQuestions about a Teacher1798 Words   |  7 PagesVygotsky won’t ever regarding the development zone ( guide or teaching that takes place between the student and the teacher) , as well as in the teaching- also learning some suggestions and recommendations of great contribution . that must be the teacher in terms of academic preparation. Teachers today must be questioned constantly about the educational process, make their own reflections towards education . Daring to break barriers assimilating educational practice as a process of constantRead MoreAgile Project Management1311 Words   |  5 PagesBrief History Because of the software development processes that abounded in the 1980’s and 1990’s, a small group of forward-thinking industry leaders coined the term â€Å"agile software development† in 2001 at a meeting in Snowbird, Utah. It was there that they created a more responsive way of looking at design standards and processes. A brief document was created entitled, â€Å"The Agile Manifesto,† which outlined their innovative approach to software development processes. Their work continues to influenceRead MoreEfficacy of Team Learning on Cultivating Moral Value at Higher Secondary School1159 Words   |  5 Pagesconventional approach in cultivating moral value among the learners. INTRODUCTION As a result of scientific and technological development, man has shifted his way of living from spiritual to materialistic approach. This shift has taken place gradually consequent to alien cultural influence. Due to Mohul and especially British rule, the entire system of Indian education and educational thought are wrongly conceived as irrelevant in the modern context. Ancient values and tradition are being criticized and

Pakistans Relationship with IMF and World Bank Essay

Pakistans Relationship with IMF and World Bank My topic deals with Pakistan, its relationship with the IMF and World Bank, and its internal problems that are causing unemployment, poverty, economic crisis and hunger. I shall be analyzing the situation using the neo-classical theory, as it is what the economists of the Pakistan government and the IMF are using to alleviate the economic instability of the country. Situated in the sub-continent, Pakistan is a low-income country, with great promise for growth. Unfortunately, it is held back from reaching middle-income status by chronic problems like a rapidly growing population, sizable government deficits, a heavy dependence on foreign aid, recurrent governmental instability†¦show more content†¦This is a great illustration of a theme discussed in â€Å"World Hunger, Twelve Myths.’ Lappe, Collins, Rosset and Esparza discuss the commonly believed myths about why hunger and poverty exist. In it they clarify this very important point: hunger does not exist due to a shortage of available food, but because of ‘fear’ and ‘powerlessness,’ resulting in the ‘anguish, grief and humiliation’ felt by the hungry and poverty stricken. Pakistan is a classic example of this theory. Based on a feudal system, especially in agriculture, Pakistani society is primarily controlled by feudal overlords, (a.k.a. the politicians or relatives of politicians), who own or oversee most of the agrarian land and industrial base. Being above the law, due to their political influence, these corrupt people can literally get away with murder. Thus, keeping their laborers subdued and underpaid is no hard task. Anyone who dares to complain is used as an ‘example’ for potential future unrest. As a result, the people in their ‘elakhas’, (controlled lands), remain destitute in the throes of poverty, unable to help themselves due to their lack of power and the fear of the ‘thekedars’, (large landowners). By a lack of power, I refer not to a dearth of physical prowess but to a scarcity of basic human rights. These are the same rights that people in developed countries take for granted. The right to vote for whomever one feelsShow MoreRelatedGlobalization And Its Impact On Pakistan s Economy978 Words   |  4 Pagesimpact on Pakistan’s economy Submitted to: Miss Ayesha Submitted by: Syeda Fatima Nadir Semester: 6 Major: Economics Introduction: Globalisation is the process of international unification that arises from the exchange of world views, ideasRead MoreForeign Direct Investment Into Pakistan977 Words   |  4 PagesThe dissertation topic will focus on the importance of foreign direct investment into Pakistan’s Economy and will also focus around the causes of foreign direct investment. The report will look into three different perspectives such as, the effects on FDI pre and post 9/11, investment in different sectors of industry and the importance of investing countries in terms of contributing towards developing Pakistan’s infrastructure or helping financially to fight the ‘War against terror’. Moreover, theRead MoreBussiness in Pakistan1686 Words   |  7 Pagesgovernment, supports a relatively low-income population. †¢ In addition to the need to eliminate terrorist violence in Pakistan, the government must continue to work to strengthen the legal system and transparency in gov ernment to increase growth in Pakistan’s economy and industry. Very Low Very High Political Risk Moderate Low High Very Low Very High Financial System Risk Moderate Low High Very Low Very High For information on companies followed Market Outlooks CopyrightRead MoreImpact of Globalization on Pakistan Economy8194 Words   |  33 PagesInternational Journal of Business and Social Science Vol. 2 No. 5; [Special Issue -March 2011] Illusive and Regressive Globalization: Issues and Challenges for Pakistan’s Economy Muhammad Iqbal Anjum Assistant Professor International Institute of Islamic Economics, International Islamic University Islamabad, Pakistan E-mail: miqbalanjum@iiu.edu.pk Abstract In a mesmerizing scenario of the aura of glamorous globalization, Pakistan has entered the 21st century with ambivalent presentiment of hopeRead MorePolitical Instability and Its Effects on Pakistans Economy7176 Words   |  29 PagesOverview of Pakistan’s Economy Pakistan was a very poor and predominantly agricultural country when it gained independence in 1947. Pakistans average economic growth rate since independence has been higher than the average growth rate of the world economy during the period. Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Average annual growth fell to 4.6% in the 1990s with significantly lower growth in the second half of that decade. FarmingRead MoreInternational Foundation Course : Economics Option2274 Words   |  10 Pagesbeen affected by globalization?† Globalization is a worldwide trending phenomenon for the past century that has affected millions of lives in many different ways. Cambridge English dictionary defines globalization as â€Å"the increase of trade around the world, especially by large companies producing and trading goods in many different countries† . Globalization has many facets and may have implications economically, socially, politically, technologically and culturally; it affects each country and individualRead MoreForeign Investment in Pakistan2535 Words   |  10 Pagescountries who are interested in funding several projects in Pakistan. China is a mechanism of investment growth in Asia. Though China and Pakistan are comparatively weak in relations of field of investment but still they have strong strategic relationship. China has been to make stupendous investment in Pakistan. If such investment takes place in Pakistan, it will be an eye opener; the amount is nearly US$22 Billion. During Musharraf’s era, Pakistan Railway was being provided with locomotives. PakistanRead MorePak Us Relations7976 Words   |  32 PagesPLEBISCITE: On  2nd November 1947  speaking on all Indian Radio Pundit Jawaharlal Lal Nehru said, â€Å"Fate of State of Jammu Kashmir is ultimately to be decided by the people. The pledge we have given not only to people of  Kashmir  but also to the world. We will not and cannot back out of it†. The United Nations resolutions of  August 13, 1948  and  January 5, 1949, proposed the plebiscite option for resolving the  Kashmir  dispute. These resolutions laid down the principles and procedures for aRead MorePakistan: Recent Economic Developments and Future Prospects6221 Words   |  25 Pagesdoes one see a positive story appearing about Pakistan’s remarkable economic turnaround. But the fact of the matter is that despite such negative image Pakistan is one of the favored destinations for foreign direct investment. Foreign direct investment flows have surged by 95 percent during July – February 2007 and are expected to touch $ 5 billion or 3.5 percent of GDP – several times higher than FDI flows to our large neighbor in relative terms. Pakistan’s international bond issues and equity floatationsRead MoreLeather Industry in Pakistan17708 Words   |  71 PagesEXECUTIVE SUMMARY 9 INTRODUCTION 11 a. OVERVIEW OF THE LEATHER INDUSTRY 12 b. CATEGORIES OF LEATHER INDUSTRY 14 c. TANNED LEATHER 15 d. PAKISTAN’S LEATHER INDUSTRY 17 CONTRIBUTION AND IMPORTANCE OF LEATHER INDUSTRY TO PAKISTAN ECONOMY 17 e. CONTRIBUTION OF LEATHER INDUSTRY TO ECONOMY OF PAKISTAN 17 f. LEATHER PLAYS A VITAL ROLE IN THE ECONOMY OF PAKISTAN 21 g. PAKISTAN’S TRADING PARTNERS 22 h. EXPORTS OF LEATHER 22 i. GLOBAL IMPORTS 30 STRUCTURE OF THE INDUSTRY 30 j. LEATHER GARMENTS 30 k. LEATHER GLOVES

The Invention and History of Indian Film Essay Example For Students

The Invention and History of Indian Film Essay â€Å"The history of film cannot be credited to an individual. Each inventor added to the progress of other inventors, ending in progress for the entire art and industry. These achievements began with the creation of a machine that captured moving images that led to one of the most celebrated and unique art forms at the start of the 20th century.†- Brian Manley PRECONDTIONS FOR MOTION PICTURES Magic lantern, an early version of slide projector used to project images that used a lens which allowed the light to pass through the lens and the image was projected in a dark room. The inventor of this magic lantern is considered, a Dutch scientist Charles Huygens. This equipment was purely used to entertain people. The latter, when the Magic lantern, entered united states in mid-19th century it became very famous and popular all over the country. The concept of motion picture did not start until 1872. First still photograph was on a glass plate by Claude niepce in 1826 but it required an exposure time of eight hours. For years they used metal or a glass plate for capturing the images, but exposure took several minutes. In 1839, Henry Fox Talbot introduced the first negatives that was made out of papers and at the same time it became possible to print the images on the magic lantern and project. For making cinema they were in need of a film that can run through the camera rapidly, which wasn’t possible with the glass films, these glass films can be used only for a very short span. By 1888, George Eastman invented a still camera that took photographs on a roll of sensitized paper. He named the camera as Kodak. The succeeding year, Eastman introduced the transparent celluloid roll film, which was a great revolution in cinema. MAJOR PRECURSORS OF MOTION PICTURES Many inventors have made very important contributions to motion picture. In 1878 Ex-governor of California, Leland Stanford requested Eadweard Muybridge to find a way for photographing the running horses. He used twelve camera, each camera was connected with other camera by a string and exposure was set in one-thousandth of a second. Muybridge mounted the photograph on the phenakitoscope and projected them with the help of a magic lantern. Inspired by Muybridge, studies a French physiologist Étienne Jules Marey in 1882, studied the flight of birds and other rapid movements of the animals by the means of photographic guns, she used the round glass plates for capturing the images that made a rotation in one second. In the same year Marey built a box type camera that used a film strip that captured the images at the speed of 120 frames per second. AN INTERNATIONAL PROCESS OF INVENTION The contribution of motion pictures was primarily from the United States, Germany, England and France. Thomas Alva Edison, who invented electric light bulb decided to work on the motion picture. He and his assistant W.K.L Dickson worked on the project called phonography which worked by recording sound in the cylinder. He later decided to work on the motion picture. He was inspired by the work of Marey, so he and his assistant went to Paris saw the instrument and they started designing the equipment. Dickson got Eastman’s Kodak film. By 1891 Kinetograph camera and kinetograph viewing machine was ready and went for patenting. Dickson roughly cut the strip in the size of 35milimeter and punched four holes in both the sides of the frame so that toothed gears could pull them though the camera and kinetoscope viewing machine. It was the first time they used a 35mm film four perforations in each frame. The film was exposed for about forty-six frames per second which was much faster than an average camera. Edision and Dickson were in need of films before they can exploit them commercially. They constructed a small studio called Black Maria in Edison’s ground at New Jersey and they were ready for production by January 1893. The movie lasted for twenty seconds and that was the longest second, which the kientoscope can maximum hold of. Edison exploited his phonography by opening a parlor were people came in to listen songs by paying money. Same way he did it for the kinetosco pe by starting parlors in New York on April 14 1894. Soon he opened parlors in United States also. Mise en scene EssayThe beginning of 1940s also saw the emergence of Gemini studios which gave great hits like Nandhanaar and Chandralekha. Modern theater produced the first full length color film in Tamil. Film makers of high-repute of early Tamil industry were S.S.Vasan, M.K.Thyagaraja Bhavathar a popular singer-actor of early forties. In Andhra Pradesh it was the Surabhi Theater which featured in the first full length movies in Telugu. GENRE Genre began as a total classification system for ancient Greek literature. Genre became a powerful tool to help the public make sense out of random art. Genre is a category of literature or the other form of art or entertainment. By the end of silent era, many genre were established: the melodrama, the western, the horror film, comedies, and action-adventure films. Science fiction movies wasn’t popularized until 1950’s. FILM GENRE Genre had its origins in the eighteenth century, when the English novel gave a voice to romantic fantasies aimed at a female audience. Musical genre was introduced only when the talkies was inaugurated. Film genre helped to bring in the mood, plot, central narrative events, motives, styles, structures. Genres began to form as soon as film developed a narrative sense, as they moved quickly from simply showing things. When they began to tell stories the immediate types they thought of was: romances, melodramas, comedies. Film makers frequently played with conventions and iconography that remained unchanged for a very long period of time. The genres like thriller, comedy and romance stayed popular for a longer period of time. But comedies kept changing from time to time. The basic genre of film can be regarded as drama. Each film genre will have a sub-genres. Some of the common main film genres are Action, adventure, comedy, crime, fiction, fantasy, historical, horror, mystery, philosophical, political, romance, science fiction, and thriller. Political fiction is a sub-genre of fiction that deals with political affairs. Political fiction has often used narrative to provide commentary on political events, system and theories. Plot-driven Socio-political economic issues, portraying realistic characters, settings, life situations? Usually, they are not focused on special-effects. Dramatic films are probably the largest film genre, with many subsets. Bibliography: Film history, 3rd edition, Kristin Thompson David Bordwell, McGraw-Hill USA, 2009 History of film, Virginia wright wexman, ELSEVIER INDIA india, 2009 Film –An introduction, 8th edition, Kristin Thompson David Bordwell, Mcgraw-Hill College, December 2006 Oxford history of world cinema edited by Geoffrey Nowell- Smith, Oxford University press Inc., New York 1997 www.csa.com/discoveryguides/film/review.pdf by Brian Manley, July 2011

Logistics and Analysis of IGEHO 2011

Introduction IGEHO is an international exhibition for hotel catering and extra-domestic consumption that took place in Basel, Switzerland from the 19-23 November 2011. The event was meant for anyone who is professionally involved in the hotel industry. The IGEHO event offered innovations, a complete market overview of products and services and a setting in which to meet familiar faces.Advertising We will write a custom report sample on Logistics and Analysis of IGEHO 2011 specifically for you for only $16.05 $11/page Learn More Alongside hoteliers, the event acted as a meeting point for professionals from the facility management industry and the care sector (homes and hospitals). In addition to this, visitors to the event were able to acquire valuable specialist knowledge about trends in the hotel industry. Happening at a difficult economic climate, the event provided a good opportunity for stakeholders in the hotel industry to find the right partner in good time so as to be able to react successfully to changes within the industry. At a time when conserving energy is a priority for every organization, IGEHO provided participants information on energy efficiency for them to apply in the hotel industry. Additionally, the event gave participants who would like to invest money in the hotel industry in the future an opportunity to learn the basics of how to run their businesses. This was achieved through a lecture given on hall 2.2 with the theme â€Å"Atmosphere for the Hotel Guest: Focus on Women.† The choice of topic was based on the assumption that hotels are generally better tailored to the requirements of men than women. By placing the focus on women, the event organizers sought to give participants an answer to the question of how female hotel gusts differ from their male counterparts (IGEHO, 2011). Ideally, the event featured over 800 exhibitors displaying thousands of products, services, and innovations in the hotel ind ustry (Allen, 2010). This report looks at the logistical support for IGEHO to determine if the event was a success or not in relation to other events. The report also looks at the main suppliers (Butterworth, and Rukavina, 2002) during the event and gives a Gantt chart giving the schedule of the event. Logistical Support for the Igeho Event Events like IGEHO 2011 are leisure activities and work possibilities for people and logistical support is important if they are to be a success. Events bring people together and make them have a good time. They enhance the quality of people’s life by providing significant economic benefits and can also provide revenue for special projects. Regardless of size, events require a high degree of planning, a range of skills and a lot of energy.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Andersson and Wesslau (2000), when using events, companies get the possibility to have their own right to the consumer during the duration of the event. This means that if a company manages to get the consumer to attend the event, the distortion from the competitors will be gone or at least minimized during the duration of the event. Also, events such as IGEHO, which largely concentrates on the hotel industry contains tangible elements, such as food, beverages and other products sold or given away, but are essentially a service in that they consist of intangible experiences of finite duration within a temporary, managed atmosphere. As with all services, this experiential â€Å"product† is produced and consumed simultaneously, is highly heterogeneous and very difficult to store or control (Allen, 2010) hence the need for proper planning. Ticketing Ticketing an event such as IGEHO is an immensely complex task, involving thousands of tickets. Hence, ticketing is one of the most significant programs of mega events such as IGEH O 2011. The ticketing that regards customers becomes, directly and indirectly, a critical factor for the success of the event and, consequently, it must be set up and realized in more professional and coherent way with the context of which it is to be situated (Cherubini and Iasevoli, 2007). For IGEHO, the tickets were available from the event’s website www.igeho24.ch. Participants to the event were able to purchase their tickets online two months before the event kicked off. Selling tickets online provided convenience to the participants since they did not have to cue to obtain their tickets. Additionally, the event organizers were able to get good returns since they were selling their tickets directly to the public. The ability to purchase tickets at any time that suited them not only enabled the participants to make informed choices on the part of the event they wanted to attend but it also eased the pressure on the organizers phones consequently cutting their cost base si gnificantly. However, since not all participants to the event have access to internet connection, the organizers had booths in various countries where one could buy IGEHO tickets. These were available from the stands at the entrances of shopping malls and event venue. In addition, portions of the tickets were sent to special guests personally (IGEHO, 2011). Transportation On Saturday, November 19 and every other day of the event at 08.15 am, a special train would move from the city center to Basel SBB where the trade fair was being held. Participants were not charged for this ride since the event organizers met the cost. Throughout the day, the number of speed trains heading to the trade fair was increased to enable anyone who missed the special IGEHO train to get to the venue in good time.Advertising We will write a custom report sample on Logistics and Analysis of IGEHO 2011 specifically for you for only $16.05 $11/page Learn More The event organizers chose speed trains as the mode of transportation to the event to avoid traffic jams, which are inherent in Basel. The IGEHO organizers had also made a special arrangement with the RailAway Company to offer 10% discount on the outward and return journey to Basel SBB and on the transfer to the trade fair grounds for those who missed the IGEHO train. For those who did not wish to travel by rail, the organizers had contracted reliable bus companies and taxi operators to transport guests to the event and back. However, this was done at the guests’ own expense (IGEHO, 2011). Human Resources Human resource management is much more than recruitment and selection of staff and volunteers; it is a wide-ranging activity, involving the long-term strategic development of the event organization. The expected outcome of this is a positive culture of commitment and cooperation developed in the process of managing the work force (Wagen, 2007). In events, there are also the volunteers. They are representatives from the community who freely choose to give their time and skills to support club activities for no payment other than reimbursement for out of pocket expenses. Volunteers come from all age groups, educational backgrounds and genders (Cherubini and Iasevoli, 2007). People generally volunteer to have fun, socialize, learn new skills, help others, develop new friends, explore career opportunities etc. (Getz, 2007). Working with volunteers requires that their special contribution to the success of the event be acknowledged and shared. Working with volunteers requires consideration, flexibility and enthusiasm because volunteers often work for the ‘fun of it’ of for charitable purposes. Volunteers require just as much management and coordination as employees (Tassiopoulos, 2005). For the realization of the IGEHO 2011 event successfully, there was need for adequate, competent and well-qualified human resources to achieve the goals of the event. In this sense , the staff employed in the IGEHO Event consisted of the Swiss Hotel Industry personnel and organization company’s staff. These people had responsibilities from the beginning to the end of the event. In addition, during the staging of the event the personnel in charge were assigned to serve the participants and the audience. In the IGEHO 2011 event, a total of 38 employees were assigned including 13 employees in organization, 15 for stage setup and enter-exit controlling, 6 people in branding, 4 people in promotional and advertising business.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The personnel were trained people and were selected according to the job requirements. Volunteers were 33 people and students from various Swiss hotel industry institutions. The students were assigned to meet the needs of the audiences and provide the necessary assistance in the hall during the event. Two week training was given to the volunteers for the event (IGEHO, 2011). Marketing and PR In management of the events, public relations have two roles. On the one hand, it supports marketing activity in the form of promotions; on the other hand, it is also the tool that disseminates non-promotional information to other target publics that are important to the organization (Anderson, 2004). An event’s leading aim is to achieve positive coverage on the media for the event without paying for the space or air-time it occupies. Strong relationships with the key media and a range of innovative techniques and tools in order to evoke an attraction are important when trying to create t he desired media exposure (Masterman, 2004). In addition, media relations and publicity should be given a lot of attention. A well-planned publicity campaign should run alongside any advertising campaign. Ideally, this drive should be spread over the period of months, building up to a peak shortly before the event. Early warning allows potential participants and spectators to book the event in to their diaries and prevents potential clashes with rival attractions (Tassiopoulos, 2005). To promote the IGEHO 2011 event, various activities were organized in the city centre, in shopping malls and in hotels. Brochures and leaflets were distributed in areas of heavy pedestrian traffic (Berridge, 2007). In addition outdoor advertisements were done. Some attendants of IGEHO were determined by online voting by public people from the official web site of IGEHO www.igeho24.ch. By carrying out e-mail based subscription system of voting, the event participants also achieved the chance to win vari ous gifts. In addition, it was announced some surprise awards would be distributed to the lucky participants by drawing during the event. Wide coverage to reports on the subject was given in the local and national press, on web pages and official web site of IGEHO within the scope of public relations (IGEHO, 2011). The IGEHO organizers created a strong brand and visual image for the event that was withdrawn from IGEHO’s strong hotel industry background while at the same time creating a clean commercial look that would appeal to European investors where participants were drawn from. After developing a strong message – ‘Atmosphere for the Hotel Guest: Focus on Women’ the organizers formed a management team that focused on systematically developing a targeted participants list. The team then circulated targeted invitations to over 20,000 potential delegates. To market the event further, the organizers formed the IGEHO Forum where lively discussions about the event were held. These discussions were chaired by Heinz Margot a well-known Swiss television presenter and covered various industry topics (IGEHO, 2011). Additionally, the organizers also used social websites like twitter and facebook to promote the event (Wagen, 2005). Risk Management The goals of risk management (RM) in events like everywhere include the protection of assets, to minimize legal and financial liabilities, to control potential loss, properly manage growth, and to operate responsibility. Risk management recognized in varying degrees as a key component of the responsibilities associated with the planning and producing events. It is often perceived as a function that is carried out once an event has been conceived, designed, and organized. RM should be thoroughly embedded in the event design and throughout its development and production process to ensure the risks associated with the event are managed effectively and cost efficiently (Silvers, 2008). To reduce the risk s that may occur during staging of the event, the logistical team had ambulances and medical teams on standby before the start of the event. In addition, to ensure the security of the event professional security staffs were assigned. Event Participants Meeting, Receptions and Hospitality To welcome the participants in to the hall, controllers, routing attendant’s volunteers were supposed to meet the people and guide them. In order to provide employee communication, intercom, wireless radio and mobiles were used. Before the event, time audiences were taken in by ticket controlling on a regular basis. Entries were provided in to two different doors. Assigned people directed the audience to different booths by asking them what they wanted to learn. In the VIP entrance, the audiences were taken into the same way. Front part of the VIP gate was devoted to protocol. Private catering was treated for the VIP guests (IGEHO, 2011). Analysis of the Suppliers Needed Like any other big ev ent, the IGEHO organizers could not organize the event on their own and had to look for other suppliers to assist them in making the event a success (Butterworth, and Rukavina, 2002). Road Traffic Office Since the risk of road traffic accidents is higher in international visitors compared to local residents, the IGEHO organizers had collaborated with the Swiss Road Traffic Office (SRTO) to ensure that there were no accidents involving participants to the event. The highway patrol officers taking part in the event had been retrained and improvements in the secondary road network including lane widening and lane separation in dangerous ‘hot spots’ near the location of the event was carried out. The highway patrol officers created awareness among event participants on the side of the road they were supposed to drive, importance of wearing seatbelts, limiting the use of alcohol, and avoiding driving when tired. The officers were also required to give directions to motorists who did not know the venue for the event. Cabeza Cleaning Company In order to ensure that the city was kept clean during the duration of the event, the organizers contracted 326 street cleaners from Cabeza, a private cleaning company who manually removed approximately 20 tonnes of rubbish from city streets, which is twice the usual amount. Up to 5000kg of rubbish was removed from the IGEHO site and 197sq m of city footpaths and 8000 sq m of city roadways were cleaned three times a day, which is equivalent to approximately 180 football fields. In addition, there was a team of 12 anti-graffiti cleaners who were employed around the clock removing approximately 1300 instances of graffiti. G4S For any event to be successful, security of the participants has to be guaranteed. To ensure the security of participants at IGEHO, the organizers had contracted security firm G4S to manage crowds in areas where pedestrian volumes increase quickly. This included areas such as near transport interc hanges, station platforms, fairground exits, bridges, and ticket booths/ticket gates. During the event, G4S was supposed to provide security and stewarding duties as communication between the two types of staff is critical for the safe management of crowds. G4S had selected stewards with appropriate competencies and they had also received training in fire safety, emergency evacuation and dealing with incidents such as bomb threats. Two months before the start of IGEHO, G4S was already deeply involved in risk assessment and planning for the event. Working with the IGEHO staff, it participated in everything from security preparations and consultancy to the actual operations covering the whole 5-day event, starting on 19 November. Overall, G4S had provided 600 security officers to ensure the round-the-clock safety and security of the 80,000 visitors who descended on the Swiss city to take part in IGEHO 2011. ABB Group of Companies Although no incidents related to electrical hazards hav e been reported in any major event, there is always the potential of electricity causing death to workers, participants or members of the public due to the temporary nature of some installations. The supply of electricity may also present an issue in that lighting levels need to be maintained at an adequate level to help people evacuate. The IGEHO organizers had contracted the ABB Group of Companies to provide lighting at the event venue. This came from the need to provide generators in case of any power failure during the duration for the event. Table 1: Gantt chart giving the schedule of the event ACTIVITY SEPTEMBER OCTOBER NOVEMBER Week 1 2 3 4 1 2 3 4 1 2 3 4 Committee Training Legislation Marketing PR Event Event Evaluation Table 2. Explanation of the Gantt chart Time Frame Schedule of Event Sep. Wk. 1-4 Formation of the committee, search for volunteers and hiring of staff Oct. W k. 1-2 Training of volunteers and staff who took part in the event Oct. Wk. 3-4 Procurement of the required licenses to ensure that the event complied with the Swiss law Oct. Wk. 2- Nov. Wk. 2 The four weeks were devoted to marketing and PR in the countries where participants were drawn from. Nov. Wk. 3 The date for the event Nov. Wk 4 Various committees’ hand in their reports for the event. The reports highlighted the challenges that every team met and gave recommendations of how this could be mitigated for an effective hosting of IGEHO 2012 Conclusion and Recommendations This paper has presented the findings of a study about the dimensions of event management and event marketing. This has been done by reviewing the literature for event management and event marketing and approaches of how this was applied in IGEHO. While most of the literature focuses on the entire event management, this paper focuses on the logistics of event management named ticketing, transport ation, human resources (volunteers and trained staff), budgeting, marketing and PR and risk management. The study illustrates that the event management logistics in the literature had been applied in to the 2011 edition of IGEHO organization and the event was successfully managed and marketed. The organization owners and the exhibitors have reached their objective and reached the number of people targeted. Recommendations Although most of the objectives for the event were realized, the report recommends the following for successful staging of future IGEHO events:- The planning committee should be formed early in advance to ensure that adequate time is accorded to the planning process The marketing and PR campaigns should run for a longer time to ensure that the participants surpass the 80,000 mark that the event organizers always target. The event organizers should pay more attention to the issue of public health and safety risks that are inherent in mass gatherings and how to mana ge those risks when planning for the next event since this was not handled properly in the previous event. References Allen, J. (2010) Event Planning Ethics and Etiquette: A Principled Approach to the Business of Special Event Management. New York, Wiley. Anderson, J. (2004) Teamwork: Interactive Tasks to Get Students Talking. New York, Delta. Andersson, M. and Wesslau, A. (2000). Organizing for Event Marketing in Order to Change Brand Image and Increase Sales. International Management Master Thesis, 16(2), 19-20. Berridge, G. (2007). Events Design and Experience, Events Management Series. Elsevier. Butterworth, S. and Rukavina, V. (2002). The Event Sponsorship. New York, Wiley. Cherubini, S. and Iasevoli, G. (2007). Marketing Trend in Europe Conference. Paris. Getz, D. (2007) Event Studies: Theory, Research and Policy for Planned Events. London, Oxford. IGEHO. (2011) Trendsetting in the Hotel Industry. Igeho 2011. [Online] Web. Masterman, G. (2004). Strategic Sports Event Manageme nt. Butterworth-Heinemann, Oxford. Silvers, J. (2008). Risk Management for Meetings and Events. Burlington, Butterworth-Heinemann. Tassiopoulos, D. (2005). Event Management: A Professional and Developmental Approach. Lansdowne, Juta Academic. Wagen, L. (2005). Event Management: For Tourism, Cultural, Business and Sporting  Events. Perth, Pearson Education. Wagen, L. (2007). Human Resource Management for Events; Managing the Event  Workforce. Burlington, Butterworth-Heinemann. This report on Logistics and Analysis of IGEHO 2011 was written and submitted by user N1k0las to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.