Poverty is a Hidden Epidemic - 1175 Words

Poverty Poverty is the state or condition of having little or no money, goods, or means of support. (11) Poverty is a hidden epidemic that is on the rise. Poverty can affect anyone and its consequencest can be serious. Poverty can affect someone academically, socially, and emotionally. The topic of poverty is of interest to me because I live in a neighborhood that is in poverty and I am wondering why it is in poverty and the methods of alleviating it of poverty. In addition, I live in a neighborhood that experiences poverty and some of my friends live in neighborhoods experiencing poverty. Moreover, I have friends who have faced poverty themselves and I want to know how to prevent others from experiencing poverty. Poverty can†¦show more content†¦(5) 50,000 per day die due to poverty-related causes. Those living in poverty suffer disproportionately from hunger or even starvation and disease.Those living in poverty face shorter life expectancies. According to WHO, hunger and malnutrition are the single gravest threats to the global public health and malnutrition is the biggest contributor to child deaths. Those who live in poverty have a greater chance of being disabled within their life. Infectious disease such as malaria and whooping cough can perpetuate the cycle of poverty by taking money for investment and productitivty to healthcare and economic resources. Financial worries can take a toll on one’s mental health and therefore, can cause mental illness which cost money to treat and reduces one’s quality of life.(6) Rises in the costs of living makes poor people less able to afford items. Poor people spend a greater portion of their budgets on food than richer people. Therefore, poor households and those near the poverty threshold can be vulnerable to the effects of increases in food prices. Children in poverty usually live in poorer neighborhoods with more pollution, therefore leading to a decreased IQ and illnesses. Poor people don’t have access to healthy foods and therefore have a greater chance of becoming obese. (7) Research has shown that children’s academic achievemnets are affected when they cme from a low-income family.Show MoreRelatedSchwartz-Nobel, Loretta. Growing Up Empty: The Hunger Epidemic in America.1718 Words   |  7 PagesSchwartz-Nobel, Loretta. Growing Up Empty: The Hunger Epidemic in America. New York, NY: HarperCollins Publishers Inc. 2002 (248 pages) First, I would like to give my opinion of whether this book was worthwhile at the beginning of this book review. Because I believe this is one of the most moving books written today about the problem of hunger in America. I also believe that this book should be required reading for every elected official who has the power to end the needless tragedy of hungerRead MoreReaganomics and Its Effect on Minority Groups1519 Words   |  7 Pagesterms as leader of the free world are the laws, regulations, and policies passed under his two terms as President of the United States. These regulations soon became known as â€Å"Reaganomics†, a term that is still used today to describe these policies. Hidden underneath the manufactured depiction of Reaganomics policies by mass media lies a controversial observation: these policies may have created a permanent shift in American society which, as a result, disenfranchised minorities since they went intoRead MoreTaking a Look at Malnutrition1 761 Words   |  7 Pagesmany different aspects to it, which causes it to be such a broad topic. That can also leave one ignorant to a lot of the general information about all malnutrition is. 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The InternationalRead MoreFrom Traders For Traitors : The Colonization Of India1736 Words   |  7 PagesIndia, yet, the British robbed the Indians of their wealth, and pushed them into poverty. India was a wealthy country with its rich heritage and culture. From India’s sprawling palaces covered in gold, and semiprecious stones adorned the floors and walls, to the markets filled with a multitude of indulgences, the British were mesmerized with it all. The Indians welcomed the British, but they failed to realize the hidden enemy behind the mask. Soon the treacherous British applied the mantra of ‘divideRead MoreAubrey Longfield. 2/11/16. Soc 102. Chapter One: Thinking1414 Words   |  6 Pagesnations. However, increased travel and expansion has helped viruses spread into different regions. Mental Illness: The Hidden Epidemic Mental health is the successful performance of mental function in all aspects including social interaction, coping, activities etc. Mental illness is a result of sustained pattern of abnormal mood, thinking or distress. It is considered a hidden epidemic because people often feel embarrassed or shame by their illness and don’t speak up about it. 1 in 5 adults experiencesRead MorePoverty Epidemic Within American Society1524 Words   |  7 Pagesundeniable fact there exists a growing poverty epidemic within American society that needs to be addressed. According to a 2012 report by the Cato Institute the United States government spends nearly one-trillion dollars every year to combat severe financial need through a total of 126 separate welfare programs. While this value by itself seems significantly large, perhaps to an even excessive extent, in reality it had little effect on the American poverty level, never al allowing it to drop belowRead MoreUNICEF and Childrens Welfare Essay examples1160 Words   |  5 Pages Health Among the many fights against poverty, improving children’s’ health is one of the major responsibilities. A healthy child becomes a healthy adult, a person who has the ability to create a better life for them, the people around them, their community, and their countries. One of the core UNICEF objectives is to improve the health of the children of the world. Most of the children deaths occur due to pneumonia, preterm birth complications, intra-partum related complications, diarrhea andRead MoreAnalysis of My Antonia by Willa Carter Essay1377 Words   |  6 Pagesthoughtful, intelligent people, though not necessarily in terms of schooling or knowledge. Jim Burden, the story’s narrator, is a heart-felt, wistful personality. 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Review of Accounting Ethis Assignment Example

Essays on Review of Accounting Ethis: Assignment Assignment Review of Accounting Ethics: Assignment Table of Contents Introduction 3 Satyam Computer Services Ltd. and the Accounting Scandal 4 Connotation of the Accounting Scandal Recommendation 5 Conclusion 6 References 7 Introduction The principles of business ethics help companies to increase their positive outcome, while lessening the ill impacts of their business activities on the general public. Even if, business ethics is frequently used as a substitute of corporate social responsibility, it is important to note that business ethics is chiefly associated to business decisions that the society considers as right or wrong. The implication of accounting ethics in the interest of the society is larger than before in the contemporary aggressive business environment. The concept of accounting ethics had developed recently post the occurrence of number of high profile corporate scandals that resulted in the collapse of organizations like Enron and Worldcom. Governments have also been endeavouring to increase the regulation and monitoring of companies in order to ensure the safety and protection of the interests of the common investors and the preservation of business ethics as well as social responsibility in the business environment. It is now obligatory for publicly listed companies to issue their audited annual accounting reports, consisting of full financial information of the company. The primary objective of business ethics monitoring consists of the formulation of regulatory policies that aims to safe guard the interests of the society as a whole. Thus, in comparison to the past, the present busines s and regulatory environment is relatively more conductive to ethical behaviour. In this study we would focus on the recent accounting fraud in Satyam Computer Services. Satyam Computer Services Ltd. and the Accounting Scandal The company was instituted in India in the year 1987 by B. Ramalingla Raju, the founder and chairman of the company. The company operated in the information technology as well as business process outsourcing across a number of industries. From the year 2003 to 2008, the company performed really well in terms of finance as well as business. It realised a decent yearly compound growth rate during that five year period and its revenue during 2008 was over $2 billion. However, during the later parts of 2008, it was found that the Chairman of the company had actually tunnelled the profits of the company by means of self-dealings. The actual profits of the company were much higher that were revealed in its financial statements. The chairman used the hidden profits for personal benefits, and had also opened large number of fictitious salary accounts of non-existent employees and used that fund for private dealings. Moreover, none other than the Chairman and his immediate family had access to complete company information. This was a case of grave negligence and non-conformation of the accounting and auditing standards, which every corporate organization is supposed to follow. As result, the main loses in this case were the small investors while the promoters of the company benefitted illegitimately. As a result of the disclosure of the accounting scandal, companies like Merrill Lynch as well as State Farm Insurance discontinued their associations with Satyam. Additionally, the share price of the firm fell to an all time low owing to the scandal. Following this the board of the company was dissolved and new nominal directors were hired by the Company Law Board. Nevertheless, the business operations of Satyam were acquired by Tech Mahindra during April 2009 to form a company named ‘Mahindra Satyam’. The Satyam case was contradictory to the Enron Scandal where the managers of the company conducted accounting fraud in order to hide the losses of the company. In the Enron scandal case, Jeff Skilling and Ken lay, two of its Chief Executive Officers were guilty of intentionally keeping away from being familiar with the illegal and unethical dealings that were occurring in the firm. The management of Enron overlooked the corporate governance policies and accounting ethics standards, and allowed Andrew Fastow, its Chief Financial Officer, to establish private partnerships to carry out dealings with Enron. Actually, the dealings with these partnerships were utilised to hide the losses and debts of Enron, and hence the published incomes of the company were incorrect and inflated (Vinten, 2002; Jickling, 2002). In case of Satyam also, private partnerships were used. However, unlike Enron, here they were used by the Chairman of the company to use or shove away the profits of the company, which originally belonged to the stakeholders, for individual benefits. Thus, it can be drawn that the Satyam scandal was an exclusive case of disregard of fiduciary responsibilities, total negligence of ethical norms and absence of corporate social responsibility by the promoters of the company (Shihur, 2011). Connotation of the Accounting Scandal Recommendation Conformity with the audit standards is an obligation that every corporate organization is required to abide by. The audit report is an autonomous report prepared by external auditors after collecting and evaluating facts in context of publications and statements about the financial activities and dealings of the company. Following the assessment, the auditors determine the extent of abidance between the declarations made by the company and the necessary auditing standards, and establishing their view through the audit report. The quality and dependability of audit report and observance to the approved practices of audit standards has been a subject of debate in the corporate surroundings. Observance to audit standards practice assists a corporate firm to trim down risks as well as optimize its business performance simultaneously. In the modern day competitive business environment that demands for a strict regulatory setting, adherence to audit standards and policies assists companies to uphold in the long duration (Samontaray, 2010). The function of audit committee is very vital in the observance of audit standards. The audit committee as well as the audit firm should correspond and be in touch with each other at every stage of the audit procedure. The participation of the audit committee is very important in the planning phase of the audit process. Even if the audit plan is the accountability of the auditor, it is very important that the audit committee understands the plan entirely. In doing so, the audit committee can broaden the range of the audit if necessary, after discussions with the auditors (Hoitash et. al., 2009). An independent audit committee is a chief ingredient of a strong corporate governance configuration. The members of the audit committee have to typically focus on meeting with the exterior auditor and make sure that quality of the audit service is preserved. The audit committee is required to increasingly evaluate the functioning of the auditor all through its period of engagement as well as during the development of the audit. The audit committee has to ascertain that the standards for evaluation of performance are extensive enough to incorporate the value conveyed to shareholders along with the audit (Hoitash et. al., 2009). Conclusion The subject of accounting ethics is related with the jobs and responsibilities of a company’s Board of Directors in managing the business and their relations with the organization’s shareholders along with other stakeholders. Typically, in any corporate firm the full time executive directors hold far-reaching powers in terms of the dealings and matters of the firm, they are paid to manage on behalf of the shareholders. However, the executive directors might not constantly bear the interests of the shareholders in their mind whilst performing their executive responsibilities. As seen in the case of Satyam Scandal, the Chairman was fudging the accounts of the company for years and it did not come to the notice of other members in the management. Consequently, this has become crucial to make the directors more accountable for their strategies and actions. The enclosure of non-executive or independent directors in the board of a firm and the incorporation of an efficient Au dit committee are imperative to control the occurrences of accounting scandals and maintenance of ethics. References Hoitash, U., Hoitash, R., Bedard, J. C. (2009), Corporate Governance and Internal Control over Financial Reporting: A Comparison of Regulatory Regimes. The Accounting Review, 84(3): 839-867. Jickling, M. (2002). The Enron Collapse: An Overview of Financial Issues. CRS Report for Congress. Shihur, S. (2011). Tunneling vs Agency Effect: A Case Study of Enron and Satyam. Vikalpa, Volume 36, No 3. Samontaray, D. P., (2010). Impact of Corporate Governance on the Stock Prices of the Nifty 50 Broad Index Listed Companies. International Research Journal of Finance and Economics, Issue 41. Vinten, G., (2002). The Corporate Governance Lesson of Enron. Journal of Corporate Governance, Vol. 2(4), pp 4-9.

Confucianism vs daomism Essay Example For Students

Confucianism vs daomism Essay Confucianism vs. daoism and legalism: Lead the people by laws and regulate them by punishments, and the people will simply try to keep out of jail, but will have no sense of shame. Lead the people by virtueand they will have a sense of shame and moreover will become good. This was the teaching of Confucius. -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- * Copyright DueNow. com Inc. * Category: Religion Paper Title: Confucianism vs. daoism and legalism Text: Lead the people by laws and regulate them by punishments, and the people will simply try to keep out of jail, but will have no sense of shame. Lead the people by virtueand they will have a sense of shame and moreover will become good. This was the teaching of Confucius. Confucius was the main influence of a way of life called Confucianism. Around this same time two other schools of though emerged. They were called Legalism and Daoism. All three were Chinese philosophies that were thought to be the best way to rule and achieve order in their society. Confucianism believed that a rulers job was to set a good example, and not order. Since people were thought of as naturally good, they would follow in the right path based on their own conscience. Legalism was a more harsh way of ruling, led by Hanfeizi. They thought people were evil, and needed strict laws and punishment to keep them in line. Daoism was very different from either of the other two. It was led by Laozi, who taught that the best kind of government was one who governed the least. They allowed things to simply take their natural course and work themselves out. Which of the three schools of thought is indeed the most effective way to obtain order with their community? Legalism is thought by many people to be the only way to achieve order. However, all that their harsh laws and punishments do is make the government more feared. It is impossible for a society to be a success when the entire community despises the government it lives under. This in turn would only make the people rebel against it even more, instead of its original intention of scaring them into behaving. People are more likely to follow something they believe in, than something they are forced to believe in. Governing people by fear may work for awhile, but people would eventually begin to question its strength and go against it. Not only would Legalism not be the most effective way to rule, but it is also simply unjust. To live in a place where torture was common seems cruel. There is also such a thing as being too lenient when it comes to ruling. Daoism takes the other extreme as opposed to Legalism. Daoists believe that things need to take their natural course, and be unified with nature. Unlike Confucianism, Daoism does not even take the time to show concern followers. They would rather let them deal with their own problems. Although it is good to let people make their own decisions in their life, they also need some direction to follow. Everyone has reached a state of confusion at some point in their life. Making decisions is often a very difficult task, and simply letting your life be one with nature will not always produce the best outcome. Confucianism combines the good characteristics from both Daoism and Legalism. Instead of living their lives through extremities, they take a much milder approach. They live down the middle way, as Buddha once discovered was the key to life. Confucianism also allows people to make their own decisions, but still has a form of ruling to guide people and influence their decisions to be wise and thought out. The Downy Woodpecker Essay Instead, they led by example. A model ruler would be assured of a model populace. Confucianism would work, because it not only provides guidance, but it provides the education to teach people the right way to do things. This enables them not only to be forced to act in the right way, but also to think in this way. Confucius says that, By nature, men are pretty much alike. It is learning and practice that set them apart. This is just what they helped do. Confucius promoted education heavily, believing that it made good people. Since Confucius did believe that .

Keynes Essays - Keynesian Economics, Macroeconomics, Inflation

Keynes Keynesian Economics Macroeconomics is a branch of economics concerned with the aggregate, or overall, economy. Macroeconomics deals with economic factors such as total national output and income, unemployment, balance of payments, and the rate of inflation. It is distinct from microeconomics, which is the study of the composition of output such as the supply and demand for individual goods and services, the way they are traded in markets, and the pattern of their relative prices. At the basis of macroeconomics is an understanding of what constitutes national output, or national income, and the related concept of gross national product (GNP). The GNP is the total value of goods and services produced in an economy during a given period of time, usually a year. The measure of what a country's economic activity produces in the end is called final demand. The main determinants of final demand are consumption, investment, government spending, and net exports. Macroeconomic theory is largely concerned with what determines the size of GNP, its stability, and its relationship to variables such as unemployment and inflation. The size of a country's potential GNP at any moment in time depends on its factors of production-labor and capital-and its technology. Over time the country's labor force, capital stock, and technology will change, and the determination of long-run changes in a country's productive potential is the subject matter of one branch of macroeconomic theo ry known as growth theory. The study of macroeconomics is relatively new, generally beginning with the ideas of British economist John Maynard Keynes in the 1930s. Keynes's ideas revolutionized thinking in several areas of macroeconomics, including unemployment, money supply, and inflation. Keynesian Theory and Unemployment causes a great deal of social distress and concern; as a result, the causes and consequences of unemployment have received the most attention in macroeconomic theory. Until the publication in 1936 of The General Theory of Employment, Interest and Money by Keynes, large-scale unemployment was generally explained in terms of rigidity in the labor market that prevented wages from falling to a level at which the labor market would be in equilibrium. Equilibrium would be reached when pressure from members of the labor force seeking work had bid down the wage to the point where either some dropped out of the labor market (the supply of labor fell) or firms became willing to take on more labor giv en that the lower wage increased the profitability of hiring more workers (demand increased). If, however, some rigidity prevented wages from falling to the point where supply and demand for labor were at equilibrium, then unemployment could persist. Such an obstacle could be, for example, trade union action to maintain minimum wages or minimum-wage legislation. Keynes's major innovation was to argue that persistent unemployment might be caused by a deficiency in demand for production or services, rather than by disequilibria in the labor market. Such a deficiency of demand could be explained by a failure of planned (intended) investment to match planned (intended) savings. Savings constitute a leakage in the circular flow by which the incomes earned in the course of producing goods or services are transferred back into demand for other goods and services. A leakage in the circular flow of incomes would tend to reduce the level of total demand. Real investment, known as capital form ation (the production of machines, factories, housing, and so on), has the opposite effect-it is an injection into the circular flow relating income to output-and tends to raise the level of demand. In the earlier classical models of unemployment, such as the one described above, deficiency of demand in the aggregate market for goods and services (known by the short-hand term as the goods market) was ruled out. It was believed that any discrepancy between planned savings and planned investment would be eliminated by changes in the rate of interest. Thus, for example, if planned savings exceeded planned investment, the rate of interest would fall, which would reduce the supply of savings and, at the same time, increase the desire of companies to borrow money to invest in machines, buildings, and so on. In other words, changes in the rate of interest would provide the equilibrating force bringing the overall (aggregate)