Princess de Cleves , Tartuffe, Nathan the Wise: a study of Irony Essay

In Princess de cleves which is believed to be written by Madam La Fayette irony has been used to describe the heroine who is torn between her duty and love. While her heart is passionate about her lover, her sense of duty towards her husband and above all the societal norms forbade her to do so. In the very first scene the writer describes about the splendor and magnificence of the court of Henry II ,it is inhabited by beautiful ladies and handsome gallants. The heroine gets impressed by it but her mother warns her against false appearances because she knows that outwardly these people are attractive but inwardly they are all jealous of each other. â€Å"If you judge by appearances in this place†¦you will often be deceived, because what appeals to be the case hardly ever is. †(Introduction, Princess de cleves by Penguin Classics pg. 4). Here we see a form of situational irony because the princess takes the outward appearances of people to be their true self while they are quite contrary to it. Again when she refuses to see Nemours but he is brought to her room by her own husband; it is a dramatic irony for the husband who is unaware that Nemours is his wife’s lover. Princess de Cleves questions the false norms of the society which demand that princess should follow the path of duty while heart yearns for love. Her world is ruined by her passion but throughout the novel she pretends that she is in control of her life. In the end her mother’s words: ‘what appeals to be the case hardly ever is’ are applicable to her as well. Jazz 2 Tartuffe, a comedy by Moliere mocks at the people who are befooled by hypocrites in the name of religion. In Act I when Orgon returns home, he asks his maid Dorine about the news of the family, Dorine reports that Madam was down with fever and headache but Orgon is more concerned about his ‘friend and mentor’ Tartuffe’s health. Dorine reports that he is well but Orgon says that he is a ‘poor man. ’ The dialogue continues and Dorine reports that Madam could not take her supper nor could she sleep but Tartuffe ate up two patridges and half a leg of mutton and slept quite well Orgon again calls him ‘poor man. ’ We experience a verbal irony in the following comment by Dorine â€Å"they are both doing well and I’ll go straightway and inform my mistress how pleased you are at her recovery. †( by Wilbur ActI , Scene II) In the next scene when Orgon is talking to Cleante , he says that Tartuffe has totally transformed him and now he has no love for his wife, children or mother he can even see them dying without caring a snap to which Cleante replies â€Å"Your feelings are humane , I must say brother! †( by Wilbur ActI , scene VI). Here we see a verbal comedy because Cleante actually means it is ‘inhuman’. Through the irony in this play Moliere emphasizes that people should not be gullible to religious zealots, as Cleante says that wise men ‘do not make noise of their deeds of honor’ and ones who do so are actually hypocrites fooling people. Jazz 3 In the poem Nathan the wise Lessing questions the reality of all the religions. When all the religions believe in God then why each considers his religion to be superior? This is itself an irony. In act III when Nathan appears before sultan Saladin he thinks that he will be asked to part with his money because he has been told by Al Hafi that sultan just wants to rob people and Nathan is just like any other trader who supplies him with money . On the contrary sultan asks him to answer his question –which religion is better or is preferred by Nathan because Sultan considers Nathan as a wise man who can answer his questions. This may be described as a form of structural irony where the unexpected thing happens . As Nathan says â€Å"I came prepared with cash-he asks truth. Truth? as if truth too were cash—a coin disu’d†( Taylor and Lewes, Act III). Lessing uses structural irony in Act IV when Friar tells Nathan that he is the same man who gave him the girl child. Nathan says that his own family was burnt alive by Christians but he brought up the Christian girl as his own child and looked after her lovingly. Friar is touched and says that Nathan is a true Christian. â€Å"Nathan you are a true Christian! Yes, by God† Nathan: â€Å"Heaven bless us! What makes me to you a Christian makes you to me a jew. †(Taylor and Lewes, act IV). Here they are praising again their own religions but fail to realize the oneness of their Gods. This poem gives a strong message that we have different religions and faiths and we consider our religion to be superior which teaches us to worship ‘our’ God but who , ironically is one . Works Cited Cave , Terence (translator) Princess de cleves Oxford world classics. UK (13 march ,2009) La Fayette. The Princess de Cleves Penguin classicsUK. (first published, March 1678) Lessing Ephraim Gotthold. Nathan the Wise translated by Taylor William And Lewes lee Charles, Leipzig 1868. (14 march 2009) Wilbur, Richard(translator) Tartuffe: comedy in five acts â€Å"A Harvest/HBJ book†( first published 1669)

The Reporting of Human Resource Accounting

CHAPTER ONE INTRODUCTION 1. 1 BACKGROUND OF THE STUDY Indeed, accountancy profession is a profession that encompasses other profession and that is why accounting has usually been thought of as highly technical field that can only be understood by the professionals (chartered accountants). Also, it has often been called ‘the language of business. Even, people in the business world owners, managers, banks, stockbrokers, investors, human resource managers, lawyers, to mention a few all uses accounting terms and concepts to describe their resources and the activity of every business they engage in whether large or small. While, according to the dictionary of management by Daniel Hartzell ‘Human Resource Accounting’ is defined as a concept that views the employees of an organization as capital assets like plant and equipment. It is important to say here that human resources accounting involves measuring the costs incurred by business organizations and other entities to recruit, train, develop and maintain their human capital. It also involves measuring the economic value of people to organization. These people consist of suppliers, customers and the society as a whole. It is not an overstatement to say that we are living in an era of accounting and as such human resources accounting must not be seen as an ordinary concept in the field of accounting but as a current trend that has come to stay. However, in this study, focus shall be placed on human resources accounting and how it will be reported in the financial statement, which also mean the capitalization of human resources as an asset which can be amortized. Although, the worth of human resources may be fairly difficult to quantify, hence there is no reason to value them at zero or not to record them in the financial statement as an asset. If the change in the value of money are accounted for, depreciation and maintenance of plants and machinery are also accounted for different adjustments are made in material, machinery and other asset therefore, inclusion in the financial statement, human aspect which form about seventy-five percent or more of the total asset that makes up the production in the organizations are only accounted for in terms of salary and wages. Leaving such information out of financial statement presents only twenty-five or less percentage of the cost of production. Based on this, such financial statement does not provide total information for decision making. 1. 2 STATEMENT OF* THE* PROBLEM While the concept ‘human resources accounting’ is intuitively attractive, the significant problems it poses will not be swept under the carpet. For the purpose of this research the following problems are areas we to proffer solution to: The possible ways of measuring the monetary worth of an individual in an organization. The treatment of human resources as an asset to be amortized overtime in the financial statement. How to estimate the effect of managerial action to employee moral, productivity and turnover. To furnish a more complete and realistic picture of the organization financial strength and the total contribution to the economy in general. {text:list-item} The aim of this study is to evaluate human resources accounting and treatment in financial statement. It is pertinent to note that objectives are identifies into two divisions; the general or broad objectives and the specific objectives. Bearing in mind the problem this study hope to provide a solution to, the general objective is to achieve a creation of idea to be employed by a further researcher for the formulation of any technique, for the monetary value of human resources and the specific objectives is the preparation of a more complete financial statement given the monetary value. {text:list-item} Employees as individual are not usually accounted for rather the value of their output is accounted for and the rate of their pay in the nature of salaries and wages are accounted for. This study intend to classify employees as asset and give value to them accordingly and create ideas to aid the formulation of measure for treating them in the financial statement. {text:list-item} The limitations to the study include: INFRASTRUCTURAL FACILITIES: There is limited library and computer facilities which have gross effect on this research work. LIMITED FUND: The situations of the economy constitute problems to students as relating to raising funds. LIMITED TIME: Due to the nature of the school calendar, there is little or no time to carry out adequate research on the study being done. text:list-item} The followings are the research question to be considered: How can monetary values of employee’s service be established? Can this monetary value aid management in internal control? What are the possible effects of the monetary worth of employee’s services to the profitability of an organization? What impact would training and development of employees have on th e performance of an organization? {text:list-item} The hypotheses to be tested are stated below: H0: Most income statements are incomplete without adequate consideration and inclusion of the human resources element in the financial statement. H1: Most income statements are complete without adequate consideration and inclusion of the human resources in the financial statement. H0: There is need for capitalization and amortization of human resources like other fixed asset in the financial statement. {text:list-item} FINANCIAL STATEMENT: This are the accounting reports in respect of the economic activities of an enterprise, prepared periodically and usually at the end of every financial year. These statements form an integral part of the company’s annual report and accounts while their components are specified in both CAMA and the Statement of Accounting (SAS) No. . CAPITAL ASSETS: Assets including investments not held for sale, conversion or consumption in the normal course of business. Capital assets are certain types of assets that qualify for special treatment when gains and losses result from transactions involving the assets. AMORTIZATION: It is the writing off of assets, the lives of which are determined not by deterioration or obsolescence, but the expiry of the tenure of ownership. It is distinguished from depreciation in that there is generally no deterioration in the performance of the asset during its life. Amortization is for intangible asset. CAPITALIZATION: The term â€Å"capitalization† is derived from the word â€Å"capital†. Capitalization is the process of determining long term capital requirements of a business and obtaining capital for it from various sources of fund. HUMAN CAPITAL: That part of an organisation capital represented by the ability, experience and skill of its work force. It refers to the knowledge, education, training, skills and experience of a firm’s worker that have economic value to the organisation. {text:list-item} Access Bank Plc. was incorporated in 1989 as a private limited liability company with ownership residing with Nigerians and institutional investors. The Bank was subsequently listed on the Nigerian Stock Exchange in 1998. Access Bank Plc. is a full service corporate – commercial bank operating through a network of over branches and service outlets located in all major centres and cities across Nigeria, Gambia and Sierra Leone. Access Bank is recognized as Nigeria’s fastest growing bank in the fastest growing sector of the fastest growing African economy. Access Bank had consistently grown at a triple digit across key performance indicators since 2002; an unparallel performance in Nigeria and indeed in Africa. As a result, from a low ranking position in the Nigerian banking industry in 2002, the bank had risen significantly to rank amongst Nigeria’s top 10 banking groups. Access Bank had painstakingly built a formidable brand over the years in its continued drive towards becoming one of Nigeria’s leading financial institutions with the appointment of its current management team in 2002. Access Bank has successfully implemented a two-pronged growth strategy of both organic and inorganic growth with the objective of emerging as one of the top three banks in Nigeria within the next five years (2007-2012). THE POST CONSOLIDATION Access Bank Plc. was one of the first to successfully comply with the Central Bank of Nigeria’s banking consolidation policy through the acquisition of two Nigerian banks: Capital Bank International Plc. (formerly Commercial Bank Credit Lyonnaise Ltd) and Marina International Bank Ltd (formerly Allied Irish Bank). The three banks’ people, processes, systems and technology were fully integrated in a record time of 60 days. The Access Bank Plc. integration approach is now the model for integration in the banking industry. After the management and staff of the Bank, the Netherlands Development Finance Company (FMO) of the Netherlands is amongst a number of significant institutional investors in Access Bank Plc. stock, having invested US$15million in the bank by way of direct equity in 2005. This depicts the degree of confidence international investors have in the bank, its corporate governance and management strategies. The bank in 2007 conducted a phenomenally successful local and international public placements of common stock which has seen its shareholders’ funds grow by 560% to approximately N160billion. CHAPTER TWO LITERATURE REVIEW {text:list-item} The term ‘human resources accounting has been conceptualized to involve measuring the costs incurred by business organization and other entities to recruit, train, develop and maintain their human capital. But an overview of this research study shows that if researcher must discuss or research on human resources accounting, certain related terms such as human resources planning, human resources forecasting, human resources auditing, and human evaluation must be defined. {text:list-item} This involves having to employ the right number and the right kind of skill that result in the long run maximization of individual and organizational benefits. It also gives consideration to skill auditing within organization but additionally requires that human resources goals give attention to labour market condition in the environment of the organization. Human resources planning are the process of determining personnel requirements and the means of meeting those requirements in order to carry out the integrated plans of an organization. Human resources activities are important to individual, organization and national arenas in order to bring about the optimal utilization of human resources. Human resources planning involve projecting and forecasting the present personnel functions into the future. {text:list-item} This focuses on institutional adaptations resulting from external pressures and changes. This human resource forecasting is important because of various external pressure that affect resources forecast includes: Amount of production. Technological change. Supply and demand condition. {text:list-item} Auditing is an intensive, analytical and comparative process. Human resources auditing has to do with investigation into job analysis, recruiting, testing, interviewing, training, promotion and transfer personnel appraisal, labour relations, employee benefits and service, wages and salaries, administrative and personnel research. Computerized personnel system today uses human resources skill inventories. This inventory require a lot of data, which include personnel factors, education and training experiences, skill job experience and other additional information. It is obvious that it is an overstatement to say that the reporting of HRA information in external annual reports brings with it the question of its audit. Costs incurred in human resource are readily subject to verification by the auditor and thus present no new problems. Cost expirations on the other hand, if based on the theoretically sound assessment of future benefits remaining for the organization, present some problems for the auditor because human resource and behavior are highly complex. But, conventional accounting also uses estimates, assumptions, in many areas such as depreciation related to the future which could be as unpredictable and less accurate. The verification of value-based data for human resource in annual reports had represented a different and more substantial problem for the auditors. However, there had been found a growing interest in value-based human resource accounting at some time in the future could not be ignored. Flamholtz suggested that: â€Å"Human resource accounting will have an impact upon corporate financial reporting. In the future, corporations would have to report on their investments in human assets. At first this information will be reported in the chairman’s letter of corporate annual reports. The purpose will be to show management’s attention to building human assets. Some companies may choose to include this information in a statement of intangibles, and some will include it in proforma financial statements. Ultimately, however, it will be included in conventional statements as a generally accepted accounting practice† {text:list-item} Theoretically, human resources accounting had been explained from different analysis made by different authors. Conner (1991) in his theory titled â€Å"the resource theory† considered human resources in a more explicit way. This theory considered that the competitive position of a firm depends on its specific and not duplicated assets. The most specific (and not duplicated) asset that an enterprise has is its personnel. It takes advantage of their interdependent knowledge that would explain why some firms are more productive than others. With the same technology, a solid human resource team makes all the difference (Archel, 1995). Another interested theory is that of the two principles of â€Å"human resource cost† and â€Å"expenses recognition principle† Theoretically, the two principles of ‘human resources cost’ and ‘expenses recognition principle’ have been used to explain the treatment of human resource accounting in the financial statement. Accountants are known with human resource cost principle of treating human resource in the financial statement. They claimed to have accounted for human resource cost for a long time before the phrase ‘human resource accounting’ come into light. Generally, they have followed the practice of changing human resource cost, associated with production (e. g. direct labour) to inventories manufactures and changed all other human resource cost(wages and salaries) to operating expenses in the period incurred. This principle of accounting for human resource provides little insight into the recording of human resource cost but it does not show or identify human resource as an asset in the balance sheet. Strictly speaking, for the purpose of this research the accepted theory had been deeply rooted in different models of accounting for human resources as explained by Jawhar Lal (2003). {text:list-item} These two under-listed method of accounting for human resources will be critically examined and explained broadly for the purpose of this work. Human Resource Cost Accounting (HRCA), i. e. , cost-based human resource accounting. Human Resource, Value Accounting (HRVA), i. e. , value-based human resource accounting. {text:list-item} HRCA may be defined as the measurement and reporting of the costs incurred to acquire, develop and replace human resources. Generally speaking, (i) historical costs and (ii) replacement costs are recognized in human resource cost accounting model. Historical Cost (Acquisition Cost) of Human Resources This model known as the historic cost model focuses upon the amount of expense incurred during the defined period on formal training and orientation, familiarization and on-the-job training, and formal development and experience. This is the amount of the additional development and experience. This is the amount of the additional investment in the acquisition and development of human resources. Acquisition cost involve costs of recruiting, selecting and hiring people to meet an organisation’s present and future human resource needs. These costs refer to the sacrifices that must be incurred to ‘acquire’ a new employee. Development costs refers to the sacrifice (costs) that must be incurred to train a person either to provide the level of performance normally from an individual in a given position or to enhance the individual’s technical, administrative, or interpersonal skills. Development costs include these components: Orientation, off-the-job training, and on-the-job training. These three components generally include costs such as salaries, tuition, materials, travel and consulting fees. Orientation costs are costs associated with formal orientation of employees. The orientation makes employees familiar with personnel policies, company products, facilities and so on. Orientation costs are generally a mixture of salaries and materials. The salaries are for both trainer and trainee. Materials may include brochures describing firm policies, history, etc. Off-the-job training costs are incurred in formal training not directly connected with actual job performance. Formal training programmes may be advance technical training, or management development programmes. Off-the-job training costs may include salaries, tuition, meals, travel, facilities costs, consulting fees, and materials. Salaries include the cost of trainers as well as trainees. On-the-job training costs are incurred in training an individual on the job itself rather than in formal training programmes. On-the-job training is used not only for production workers but also for professionals such as accountants, engineers, and management trainees. The cost associated with on-the-job training include labour and materials costs. Accounting for Historical Costs Historical costs of human resources are treated in the same way as expenditure on fixed assets such as buildings, plant and machinery. Upon capitalization, the amount of investment in human resources will appear as assets on an enterprise’s balance sheet, and be written off over the expected employment life of the particular group of human resources employed in the enterprise. This allotting process involves recording of investments in human resources through a capitalization process; recording of routine (periodic) expectations of such capitalized items using a suitable mortization procedure; recording of losses on account of special expirations which may result from obsolescence of investments in certain skills or knowledge capabilities or the turnover of personnel; and dynamics and conditions of human resources in terms of investments therein. The determination of a suitable amortization procedure to recognize expirations in human resource is difficult and highly involved. Human resource investments are of a highly varied nature with different periods of long term benefits. Further, uncertainties of conditions of employees, and even mortality add to the complication of deciding upon appropriate amortization practice. Ideally, expiration of human resource investments should be determined by association with those periods during which the benefits of the investments are experienced by the entity. As example, cost of recruiting should be amortized over a period of time which is the best estimate of the remaining time that the individual will remain actively in the employment of the company. Training costs should be amortized over a period which is the best estimate of the time during which the benefits for such training will be enjoyed by the firm. Special training to develop a skill which will be utilized for a short time period should be amortized rapidly. General executive training on the other hand, may be amortized over the estimated remaining tenure of the recipient with the company. Amortization time periods should never extend beyond the date of the recipient’s tenure with the organization. TABLE 2. 1 ABC COMPANY LTD. BALANCE SHEET AS AT 31ST DECEMBER, 2003 FINANCED BY: TABLE 2. 2 ABC COMPANY LTD INCOME STATEMENT FOR THE YEAR ENDED 31ST DECEMBER, 2008. In summary, while cost-based HRA system, are rather severely restricted in the range of their usefulness, within that range, they can be quite worthwhile. Furthermore, the applicability of existing accounting techniques and the familiarity of managers with these techniques suggest that such an approach can save as a logical starting point. Replacement Costs of Human Resources. Replacement costs as used here refers to the estimated costs that would have to be incurred by an enterprise in order to replace its existing human resources with others of similar ability and experience. The determination of replacement cost involves estimates and these estimates are concerned with the present rather than with the future. Flamhottz has developed a concept (model) for calculation of ‘positional replacement cost’ which he defines as the sacrifice that would have to be incurred today to replace a person occupying a specified position with a substitute capable of rendering equivalent services in the given position. There are three basic elements of positional replacement costs; acquisition costs, development cost and separation costs. Acquisition and development costs still remain as discussed under historical cost of accounting for human resources. Separation costs are or incurred as a result of an employee leaving a position or job in an organization. It includes three basic components: separation compensation costs, differential pre-separation performance cost, and vacant position cost. These costs are generally capitalized and amortized, but should be expensed when the employee ceases to be employed. Separation compensation cost is the cost of severance pay, of any personnel. It may range from very little or no cost to a person’s salary for one year, and perhaps more. Differential pre-separation performance cost is the cost of lost productivity prior to the separation of an individual from an organization. There is a tendency for performance to decrease prior to separation. In many cases, differential pre-separation performance costs may be difficult to measure for specified individuals but may be measurable from historical performance records by personnel classifications. Vacant position costs may be incurred during a period when a search is made for replacement in other positions, holders of the latter may perform less effectively when the former is vacant. This difference in performance or less performance can be termed a cost of vacant position. Evaluation In a sense, replacement costs can be viewed as representing a bridge between historical cost approaches and economic value approach. The justification for considering replacement cost as a form of economic value is the proposition that the value to an organization of an individual’s services is reflected by the amount by the amount that the organization would have to pay to replace their services. Furthermore, replacement costs are present-oriented rather than future-oriented. Thus, it is not necessary to make estimates about the future in order to determine human resources values in terms of replacement costs. There are several difficulties associated with the use of replacement costs for human resource accounting. Replacement costs are often irrelevant since management may be either unwilling or unable to replace a particular individual with another person of similar abilities. {text:list-item} Jawhar Lal (2003) explained in his study that human resource value accounting is an attempt to measure the value of human resources on the basis of benefits accruing to an organization. The amounts of such benefits are derived from the value differentials attributable to investment in human resources. Many authors have developed models for calculating (estimating) the value of human resources of an organization. These models have some similarities, but they do vary somewhat in both concept and in choice of surrogates. For this research work to proffer solution to the question of how human resources of an organization can be valued. Some models have been used thus; Hermanson’s model Hermanson discussed two possible valuation methods, both of which are based on economic concepts of value: (a) The Unpurchased Goodwill method, and (b) the Adjusted Present Value Method. Unpurchased Goodwill Method: Hermanson had suggested that the value of human resources of an organization may be assessed by capitalizing earning in excess of normal earnings for the industry or group of companies of which the firm is a part. This approach is historical cost-based and thus of limited use as a predictor. Also, if it is based on projected earnings rates it could be no better. This approach implicitly assumes a zero value for all human resources in competitive situations since a positive value of human resources requires above average earnings. Adjusted Present Value Method: This method requires four steps in order to arrive at the value of the human assets. Estimate annual wage and salary payments for five years into the future. Calculate the present value of estimated wage and salary payments by applying a discount factor equal to the normal rate of return in the economy. Calculate an average efficiency ratio based on the previous five years performance. This ratio is found by dividing the actual earnings of the firm by normal earnings for each year and averaging the result. (In making this calculation, the latter years receive more weight than the earlier years). Multiply the present value of the future wage and salary payments by the average efficiently ratio. The resulting figure represents the estimated present value of the human resources. This method also is related to Hermanson’s unpurchased goodwill model and shares the same limitations. In addition, it may be criticized on the ground that future compensation is as much as measure of the liability of the firm employing the individual as it is an asset. The concept, therefore may relate to the human capital represented in individuals employed by the firm. Both of Hermanson’s models were suggested as possibilities for external reporting and management uses. Giles and Robinson’s Model Giles and Robinson suggested that the valuation of human assets should be made in term analogous to the valuation of a business on a going concern basis. The price earning ratio, which relates market capitalization to the latest reported earning figure is their point of departure. Based on a sample of companies with similar characteristics, an average P/E multiple is computed and then adjusted to arrive at the multiple applicable to the firm by providing for (deducting from the average multiplier) the factors that are not related to human assets. The multiple is further adjusted as needed, for application to different job categories. Gross remuneration of employees and all additional expenditures related to investments in human resources are capitalized by using the appropriate multipliers. The technique provides the basic data necessary for periodic human asset, balance sheets and income statements and human asset profiles and projections of the firm. The multiplier represents a number of year’s capitalization of the annual human resource figure. The total human asset value in a firm is either equal to or less than the amount of ‘goodwill’ (the going concern value less net non-human assets). Due allowance is made for other goodwill elements, such as product loyalty, patented processes and the value of long term contracts. The net change in human assets value in a period is computed as the difference between capitalized amounts which enhance the value and capitalized provisions for dimension or amortization of value. Lev and Schwartz’s model This model determines present value of future earnings of a person in an organization. The model developed by Lev and Schwartz to estimate human capital value of a person (y years old) is: EVr*=t=rTPr? t+1)i=rtIi1+rt-r Where: EVr*= the human capital value of a person ‘r’ years old. I(i)= the person’s annual earning until retirement and this series is represented graphically by the earnings profile. r= a discount rate specific to the person. T= retirement age. Pr(t)= Conditional probability of a person of age ‘r’ dying in year ‘t’. I*t=fI? (t), t=r,.. ,T This model provides a reasona ble measure of human capital which could be used for aggregation in macro statistics and in assessing the dynamics and mobility of such capital. While the authors indicate that capital values determined by use of this model will provide financial statement uses with valuable information about changes in an organization’s labour force, the model’s use for practical decisions of managers of organizations or of potential investors in organization is obscure or even non-existent. Organ’s Model Organ attempted to measure in monetary terms the net present values of some of the human resources of a certified public accounting firm. A human resource value model was utilized in the research which is exhibited in table 2. Table 2. 3 Major Determinants of human Resource value Model Source: Pekin Organ, â€Å"Application of a Human Resource Value Model: A field Study†, Accounting, Organisation and Society, Vol. 1 No. 2-3, 1976, p. 198. According to Organ, there are seven major determinants of the values of human resources. Monetary value benefits potential. The individual performance index. Efficiency index. S tandard work index. Maintenance costs (salaries or wages) Start-up costs (recruiting, initial training). Training and development costs. Probability of continued employment. Probability of survival. Organ believes that has model generates data that are amiable for use in an on-going manner like a performance evaluation system or a human resource value accounting system. Organ’s model has two major limitations which are, one, the ‘total’ value of the individual is not considered, and two, the model is limited for use in professional service organizations. Jaggi and Lau’s Model In human resource valuation, there is a problem of forecasting the expected promotion chances and tenure of employees on an individual basis. To overcome this problem, Jaggi and Lau refer to ‘group’ as homogenous group of employees who may not be necessarily working in the same department. They claim that on a group basis it is possible to know the percentage of people (in a particular group or department) likely to get promotions or to leave the organization before death or retirement in future years. This model assumes that the pattern of employees’ movement generally remains constant over time. Therefore, predictions based on historical data for one period can be used for future periods also. The authors assert that with some intuitive justification, the model is likely to provide greater accuracy and reliability. Morse’s Model According to Morse in his study â€Å"A Note on the Relationship between Human Assets and Human Capital†, (1973), the following equation was implicating attributed to Flamholtz: A=i=1NrTIi(t)1+rt-r+rTX(t)1+rt-rdt Equation 1 Where A= human assets value to a formal organization; N= Number of individuals currently employed by the organizations; R= current time; T= highest time at which an individual currently employed leaves the organization; Ii(t)= net value of the services rendered by individual ‘i’ at time ‘t’ to the organization, Ii(t)=Gi(t)-Ei(t). Gi(t)= gross value of services rendered by individual ‘i’ at time ‘t’ to the organization. Ei(t)= all direct and indirect compensations given to individual ‘i’ at time ‘t’ by the organization. X(t)= value of services of all individuals presently employed working together in excess of value of their individual ervices at time ‘t’ and r= time value of money. Morse then converts the Lev and Schwartz equation, which determines an individual’s human capital value under certainty to: C=i=1NrTEi(t)1+rt-rdt Equation 2 Which according to Morse, is the total â€Å"human capital employed in an organization† as it exists at time ‘r’. Now, by expand equation 1 and re-arranging it, the writ e says: Equation 3 says that the present value (PV) of human assets equals Total Present value (TPV) of human resources less present value of payment to the employeed. Flamholtz Model Flamholtz in 1971 proposed a normative human resources valuation model which would trace the movement of an employee through organizational positions or service state where the employee â€Å"†¦ is expected to render in specific quantity of service to the organization during a specified time period. The probability of the individual occupying this service state is needed so that expected service from the individual can be derived using: ES=i=1NSiP(Si) Equation 4 Where: Si= services that are required from the individual in a service state; and PSi= probability that the individual will occupy the particular service state. The service than an individual renders determines his or her value to the organization and Flamholtz stated that the monetary equivalent of this services can be represented in two ways. The first way is to determine the quantity and price of the services and use their product as the monetary equivalent, and the second expected services are discounted so that their present value can be determined. Also, in 1972, Flamholtz offers a model for calculating an individual’s value to an organization using the present value of the set of future services the employee is expected to remain in the organization. This model is conceptually sound from a benefit point of view and would have left little room for improvement. During this same year, Flamholtz proposed ‘expected realizable value’ as a form of economic valuation of the human resources. His model postulates that an individual is not valuable to an organization in the abstract. An individual is valuable to an organization in relation to the personal attributes and the characteristics of the organization. On a conceptual and theoretical level, Flamholtz has tried to identify the key variables that determine an individual’s value to an organization and the inter-relationships of such variables; he recognizes that these determinants may land themselves to monetary or non-monetary indicators. The model developed by Flamholtz is shown in table 2. 4 below. TABLE 2. 4 Revised Model of the determinants of an Individual’s value to a formal organization Source: Eric Flamholtz, â€Å"Human Resource Accounting: A Review of Theory and Research,† unpublished paper presented to the Organization Behaviour Division at the 32nd Annual Meeting of the Academy of management, Minneapolis, Minn. , August 15, 1972, p. 10. Flamholtz suggested appropriately that this â€Å"model is suggested as a first step toward the development of a theory†. It is conceptual theoretical and perhaps only impressionist. One of the most difficult aspects of calculating realizable value is the estimation of the value of a person’s expected services. Flamholtz had proposed that it might be desirable to use a substitute measure of surrogate, for this purpose. Examples of possible surrogate measures include compensation, replacement cost and performance indexes. In an experiment designed to test the appropriateness of using these measures. Flamholtz found that all three may be relevant for this purpose. He suggested that the choice of the ‘best’ measure in a specific situation will depend on the intended use of the data. To summarize, according to Flamholtz, the measurement of human resource value of an individual to an organization requires the following: Estimate the total time period during which the individual can be expected to render services to the organization. Identify the various service states (i. e. position) that the individual may occupy during the time he is with the organization. Measure the value derived by the organization if the individual occupies the various service states for the specified time periods. Estimate the probability that the individual will, in fact, occupy each state at the specified future time. Akintoye’s Model Akintoye in 2006 proposed the ‘Net Benefit Model’ to human resources accounting in service organization as an expectation of the earlier conventioned models of Morse (1973), Lev and Schwartz (1971, 1972) and Flamholtz (1971, 1972). In this type of an organization, the estimate of benefit generation is a relatively simple exercise. Each employee has a stipulated and readily ascertainable billing rate and amount of time (measured in billable hours) over his or her estimated useful life with the organization. That may be other types of organizations that give themselves to parallel measurement like doctors and lawyers. The Net Benefit Model as proposed by Akintoye is hereby stated in it most general form below, thereafter the suggested constructs are explained and illustrated in details. Cij=j=1nk=tE-t1(1+r)c? Bqj Equation 1 Where *Figure 1: Adjusted Net Value of Human Resource for the *Organization The equation 1 above tells us that the total adjusted net present human resources benefit of a services organization is equal to the summation, discounted certainty-equivalent net benefits of the employees in the organization as shown in the above figure. The major thrust of this work is to conceptualise the determinations of certainty-equivalent net benefit streams generated by each individual, after all, the individual are determined, the total human resources benefit for the organization can be resolved by relatively simple procedures of discounting aggregation (Equation 1 and figure 1 refer). {draw:frame} Figure 2: Major Determinants of Certainty Equivalent Net Benefits {draw:frame} Empirically, analysis made by Walker (1995) with the aid of diagram showed that Human Resources Accounting in services organization seeks to make managers more of the importance of people as valuable resources and to hold managers more accountable for these resources. It is also an excellent way to assess management performance in this use of human resources. In this way it is expected to encourage better planning for human resources and better decisions wherever they involve people. Lastly, Human Resources Accounting in service organization is an excellent way to encourage managers to take a long-run outlook towards the value of people, rather than a short-run, quick-profit outlook that ignores human resources. Figure 3 Source: James W. Walker (1995), Grolier Library Adams (1965) stated that an individual who is involved in an exchange relationship, such as exchanging services for pay in a gainful employment situation, will perceive his or her inputs in more than monetary terms. The perceived input include effort, education, experience, skill, seniority and job status. Inputs are considered relevant only if they are perceived as inputs by individual contributor. On the other side of the exchange relationship is what the individual perceives he or she is deriving from the job-outputs. These are categorized in terms of their recognition and relevance and include salary, prerequisite, prestige and personal fulfillment. The individual will make comparisons of his or her output-input ratio with the situations of others whom he or she considers equal, in an all round sense. The purpose of this comparison is for the individual to determine whether the ratio of his or her output to input is fair. In making this comparison, the individual has in mind another specific individual whom Adam calls the individual’s ‘referent’. When the normative expectation of the individual in this comparison is violated to that of his or her output-input ratio as perceived is not equal to that of his or her referent (peer), then a feeling of in equity may result. Note that in this definition of inequity, the absolute level of outputs and inputs for the individual and his or her referent is irrelevant. What determines the equity of this output-input comparison is the individual’s perception of what he or she is giving and receiving as well as what he or she perceives the referent is giving and receiving. The relationship may occur when the individual and his or her referent are in a direct exchange relationship with a third party. {draw:frame} Symbolically, inequity exists when: Where: Oi=Output of the individual. Similarly, the individual will perceive a condition of equity when: The relationship of â€Å"equity theory† to the individual’s perceived rewards and peer’s perceived reward is that when the balance of ratio of these indices is disturbed, this will affect the individual’s internal satisfaction. Also it should be clear from Adam’s model that a feeling of inequity may exist when the individual perceives his or her ratio of output as greater or less than his or her referent’s ratio. This indicates that the model is realistic and not unidirectional. CHAPTER THREE RESEARCH METHODOLOGY 3. 0 INTRODUCTION This chapter covers the method used in the collection and generation of data in carrying out this study. It deals with the basic methods, sources of data and procedures used in gathering and analyzing of data and the problem s encountered in collecting the information required for the research. 3. 1 RESEARCH DESIGN Research design means the structuring of investigation aimed at identifying variables and their relationship to one another. It is used for the purpose of obtaining data to enable researcher test hypothesis and answer research questions. In an attempt to properly carryout this research, the researcher has obtained materials from both primary and secondary data. PRIMARY DATA: Primary data is information obtained for particular purpose/problems under consideration. According to Anyanwu (1994), it is first hand â€Å"tailor made† information be it personal, by a phone and by use of questionnaire administration. This research work employed the use of closed ended questionnaires administration as its sources of primary data in order to get the business opinion on the numerous questions to be asked. SECONDARY DATA: Is information assembled for some other purpose which the researcher finds relevance to his own research and incorporates these into his own work. Sources of secondary data used in this research includes articles in journal, textbooks, post written project work, newspaper articles, Access bank Annual Financial Report. 3. 2 RESEARCH POPULATION/POPULATION SIZE . 3 SAMPLING PROCEDURES However, due to some constraints like money, time, human and material resources and other facilities; the use of the entire research population is not only difficult but not feasible. Hence, there is need for the use of a subset of the entire population. Based on this fact, the use of judgemental/non-probability sampling is employed in choosing the sample size. Sampling according to Anyanwu (1994) is a pr ocess of selecting a proportion of the population for the purpose of generalizing the result from he sample about the population itself, the target population and any other population having the same characteristics. The researcher has some element of control because in non random sampling process, the researcher selects his sample on the basis of his own knowledge of the population its elements and the nature of the researcher aim. 3. 4 SAMPLE PLAN The study employed the use of primary data through questionnaire sampled among the employees of Access Bank Plc. , service industries and professionals. A total of fifty questionnaires were administered and these questionnaires were distributed to the selected sample size. At the end, 40 completed questionnaires were personally retrieved. Thereafter, the completed questionnaire were tested for validity 3. 5 DATA ANALYSIS Based on the nature of the study, analysis has been limited to the use of Chi-Square (? 2). Data analysis contains the statistical calculations performed with the raw data collected to provide answer to the questions initiated in the research. Chi-Square (? 2) is defined as the â€Å"sum of the ratio of difference between the square of observed and expected frequencies† (Hoel Paul, 2005). It is a measure of significances and is important in hypothesis testing especially in the type of research where only people who are among the managerial staff of the institution are required to fill the questionnaires to compute the Chi-Square, we find the difference between the sum of square of the observed and expected frequencies and divide whatever is gotten by the expected frequencies. Mathematically, the Chi-Square can be expressed thus, is given as: ? 2=O-E2E O is the observed frequency. E is the expected frequency. ? is the symbol of summation If the value of the observed value is greater than the expected value, the Chi-Square will largely indicate a poor experimental agreement, if the observed value and the expected value perfectly agree with one another; the value of the Chi-Square will be zero. Indicating an excellent or perfect experimental agreement, however, the value of the Chi-Square can never be zero Taylor (1977). The degree of freedom (df) is another important feature of the Chi-Square distribution. Its computational formula is given as: df=(r-1)(c-1) The decision rule is that if the computed value of Chi-Square is greater than tabulated critical value (? ). The null hypothesis is rejected as the state of significant. If the test is less than the critical value, the null hypothesis is retained (Murray 1977). A Chi-Square test is always a one tailed test. The level of the significance is 0. 05 or 5% which will be given in the Chi-Square table. 3. 6 RESTATEMENT OF RESEARCH QUESTIONS Most income statements are inc omplete without adequate consideration and inclusion of human resources element in the financial statement. The following are the research questions: How can the monetary value of employee service be established? Can these monetary values aid the management in internal control problem? What are the possible effects of the monetary worth of employee service to the profitability of an organization? What impact would the development of employee have on the general performance of an organization? 3. 7 RESTATEMENT OF RESEARCH HYPOTHESES Hypotheses set to be tested are stated below: H0: There is need for capitalization and amortization of human resources like fixed assets in financial statement. H1: There is no need for capitalization and amortization of human resources like fixed assets in financial statement. . 8 LIMITATION OF THE STUDY Factors limiting the scope of the study are as follows: TIME: The research is expected to merge school activities as a student with gathering data for this study. Also, the staffers of Access Bank Plc have to combine their daily work with attending to the researcher using their leisure time. DISCLOSURE OF HUMAN RESOURCE ACCOUNTING INFORMATION: Company had not made any serious attempt to provide HRA information in their published annual reports and is an area which is not yet fully developed. Further to attach quantitative values to them. The report is limited to use of questionnaire to gathered relevant data. Inspite of these limitations, this investigation will yield beneficial results and the limitations of this study will not have any significant effect on the research result. CHAPTER FOUR PRESENTATION AND ANALYSIS OF DATA {text:list-item} This chapter presents and analysis the data collected from Access Bank, First Bank Plc and United Africa Company (UAC). This is done on other to find out the possibly of human resource accounting. Through this analysis, the hypothesis set forth is either validated or nullified. The hypothesis states that most income statement are incomplete without adequate consideration and inclusion of monetary value of human resource element in the financial statement, and there is need for capitalization and amortization of human resources like other fixed asset in the financial statements. The findings present in this research are based on the response on the model of data selection supporting or negating the hypothesis. SUMMAR Y OF THE QUESTIONNAIRE DISTRIBUTED AND RESPONES COLLECTED The table shows that out of 30 questionnaire representing 42. % of the total distribution which were administered to Access Bank 27 or 38. 6% were returned, leaving a shortfall of 4. 3%. 20 questionnaire representing 28. 6% of the total distribution were administered to First Bank, of this questionnaire 19 representing 27. 1% were returned leaving a shortfall of 1. 4% while 20 questionnaires representing total distribution were administered to UAC, 18 representing 25. 7% were returned but 2 which is 2. 9% of the questionnaire were not returned. It should be noted that all returned questionnaire were used in this research based on the responses to the question. The researcher decides to select questions closely related to the hypothesis for the testing of the hypothesis. {text:list-item} Earlier in this research, it has been show that different schools of thought exist in respect of human resources accounting. In order to ascertain possibility of human accounting the analysis of all the questions will have to be used {draw:frame} TABLE 4. 2: DISTRIBUTION OF RESPONDENTS BY EDUCATIONAL QUALIFICATION {draw:frame} TABLE 4. 3*: DISTRIBUTION OF RESPONDENTS BY *HOW LONG THEY HAVE BEEN IN THE ORGANIZATION {draw:frame} TABLE 4. *: DISTRIBUTION OF RESPONDENTS BY *MARITAL STATUS {draw:frame} TABLE 4. 5*: DISTRIBUTION OF RESPONDENTS BY *COMPANY THEY WORK {draw:frame} TABLE 4. 6*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"HAVE YOU HEARD ABOUT HUMAN RESOURCES ACCOUNTING? † {draw:frame} From the above, 64 respondents answered the question. 85. 9% have heard about human resource accounting, while 14. 1% said they have not heard about human resources. TABLE 4. 7*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THAT THE SKILL OF EMPLOYEE CAN BE MEASURED IN MONETARY TERMS? † {draw:frame} Out of the 55 respondents who have agreed that they have heard about human resources accounting, 56 agreed to the fact that the employee skill can be measured in monetary terms, while 8 respondents said the skill cannot be measured in monetary terms. TABLE 4. 8*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THIS SKILL *IS *TRUELY REFLECTED IN THE FINANCIAL STATEMENT OF AN ORGANIZATION? † {draw:frame} 48 out of the 64 respondents says that the skill is not truely reflected in the financial statement, while 16 said the skill is truely reflected in the financial statement. TABLE 4. *: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"ARE YOU SATISFIED WITH THE PRESENT METHOD WHEREBY HUMAN RESOURCES IS REFLECTED IN FORM OF SALARIES AND WAGES ONLY? † {draw:frame} In the above question 47 respondents replied that they were not satisfied with the present method whereby human resources is shown in form of wages and salaries. 17 respondents believed that it were to shown in form of wages and salaries *TABLE 4. *10*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU FEEL THAT HUMAN RESOURCES SHOULD BE CAPITALIZED AND AMORTIZED LIKE OTHER FIXED ASSETS? † {draw:frame} Out of the 64 respondents, 53 believe that human resources should be capitalized and amortized with other financial assets, while 11 respondents said human resources should not amortized and capitalized. TABLE 4. 11*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK MONETARY WORTH OF AN EMPLOYEE SKILL OR SERVICES CAN AFFECT THE PROFITABILITY OF AN ORGANIZATION? † {draw:frame} 58 i. e. 90. 6% were of the opinion that the monetary worth of an employee can affect the profitability of organization, while 9. 4% were of the view that such cannot affect the protability of the organization. TABLE 4. 12*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THIS MONETARY VALUES OF HUMAN RESOURCES CAN THUS BE JUSTIFIED LIKE ANY OTHER ITEMS IN THE INCOME STATEMENT? † {draw:g} 54 respondents states that the monetary values of human resources can be justified like other items in the income statement, i. e. they can be treated and adjusted in the financial statement, while 10 respondents says otherwise. TABLE 4. 12*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK THAT HUMAN RESOURCES ACCOUNTING IS POSSIBLE? † {draw:frame} 82. % of the respondents felt that human resources accounting because in production we cannot do without human factor, while 17. 2% feel that human resources accounting is totally impossible. TABLE 4. 13*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK INCOME STATEMENT IS COMPLETED WITHOUT THE CAPITALIZATION ND AMORTIZATION OF HUMAN RESOURCES? † {draw:frame} 51 respondents believe that inco me statement is not completed without the capitalization and amortization of human resources, while 13 respondents believe that there is no need for the capitalization and amortization of human resources. TABLE 4. 14*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO YOU THINK INCOME STATEMENT IS COMPLETE WITHOUT ADEQUATE CONSIDERATION OF HUMAN RESOURCES? † {draw:frame} 55 respondents maintain and believe that human resource elements are not well handled in the financial statement which the make the income statement incomplete, while 9 respondents feels that the income statement is complete without the consideration of human resources. TABLE 4. 15*: DISTRIBUTION OF THE RESPONSE ON THE QUESTION â€Å"DO YOU BELIEVE THAT HUMAN RESOURCES ACCOUNTING WILL HAVE IMPACT UPON CORPORATE FINANCIAL REPORTING IN THE FUTURE? † {draw:frame} 7. 8% of the respondents believe that human resources will have no impact upon corporate financial reporting in the future. 92. 2% felt that human resources accounting will have great impact upon corporate financial reporting in the future. TABLE 4. 16*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"ARE HUMAN RESOURCES (PEOPLE) THE MOST IMPORTANT ASSET OF AN ORGANIZATION? † {draw:frame} TABLE 4. 7*: DISTRIBUTION OF *THE RESPONSE ON THE QUESTION â€Å"DO HRA INFORMATION PLAY ANY ROLE IN MAKING INVESTMENT DECISION BY INVESTORS AND OTHER USERS? † {draw:frame} 58 out of the 64 respondents felt that human resources accounting will play an important role in making investment decision by investors. 6 respondents believe that human resources accounting cannot affect investors’ decision in making in investment decision. {text:list-item} Question 5 and 10 give response to the null hypothesis which is to be tested. CHI-SQUARE TEST {draw:frame} {draw:frame} CHI-SQUARE TEST {draw:frame} {draw:frame}

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Impact of homogeny and heterogeny on globalization - Term Paper Example It, however, equally suggests some form of commonality, albeit the imposed one. This, therefore, implies that English represents a similarity of thought and culture. In both cases, the notions tend to suggest some level of homogeneity occurring as a result of shared language. The alternative versions of spread of English globally proposes a heterogeneous versions, in which there are many worlds and Englishes. There has divergence views on the impact of homogeneity and heterogeneity on globalization, colonization and imperialism. For some studies, homogeneity and heterogeny impacts negatively on globalization and leads to colonization and imperialism, for some heterogeny and homogeneity impacts positively on globalization (MckaySanda 90). In this paper, we propose a research to ascertain the relationship between heterogeny, and homogeny. It seek to argue that the heterogeneous version has its flaws, based upon a supposedly pluralisation of Englishes that is based around new emergent n ational linguistic identities. The rest of the proposed research will deal with various issues from many perspectives. It will open up the understanding of current issues with regard to community of English speakers. It will argue that there can be no understanding of English without appreciating globalization as a local and global process, as both an oppositional and an impositional set of relations producing something new. Firstly, the paper will look at the current debate over the spread of English globally, looking at arguments over heterogeny and homogeny in the world.

Tackling Childhood Obesity Research Proposal Example | Topics and Well Written Essays - 3250 words

Tackling Childhood Obesity - Research Proposal Example When the behaviour is culminated in the community and family levels, the children also get to enter into these lifestyle cycles, sometimes inadvertently and sometimes due to lack of knowledge. It has been indicated in studies that dietary changes and schedules of daily activities lacking promotion of physical activities and lack of playtime activities are the reasons in cases of children (Edmunds et al., 2001). For example, in diets, fast foods have been included to a great extent. These contain items with high-fat and high-sugar contents. These mainly come from convenience items for family reasons. Work-roles in the families have led to a decrease in family meals. Outside the home environment, the patterns of dietary changes are also affecting food habits of the young. All studies have indicated the positive roles played by physical activity. Lack of physical activity has been implicated in children's weight gain in excess of what is ideal. Thus, there is a situation where the child ren are overweight or obese, and compounded to that there is a diminution of the physical activity in daily lives of the adolescents and the children (Reilly, 2006). Studies again indicated marked decline in schedules of physical activity in the middle school and high school schedules in children. This is more so in case of girls. This may be due to cutting down of physical education in school curricula. Additionally, there is increased use of television and computers, which decrease children's level of activities to a great extent leading to insufficient physical exercise (Brunt et al., 2008). The extent of obesity is assessed by classification in adults. However, it is difficult to assess the same in case of children by such classifications. For studies and research, given the problems in children, the prevalence is an important parameter to study. In research studies, classically this is measured in percentiles. Although there are legitimate criticisms, research literature has conventionally used body mass index. Consequently, there is a prescribed body mass index (BMI) for all ages, and 85th to 95th percentile of the standard BMI has been used as the landmark. This means children within this range will be considered at risk for being overweight. On the other hand, children who are beyond 95th percentile would be regarded overweight. It is evident that studies that involve at risk children as target population for intervention, would attempt to identify them, and in that context, these benchmarks could serve as effective identifiers. Once identified, these affected child ren may be intervened through designed public health measures with the objective and outcomes being prevention of future or existing obesity and reduction of complications and implications of obesity in them (Gibson et al., 2006). The global nature of this problem has already been mentioned, but the important parameter that this study attempts to address is launching the public health intervention at young age when the exposure to life style related risk

Resposibilities and Relationships in the Lifelong Learning Sector Essay Example for Free

Resposibilities and Relationships in the Lifelong Learning Sector Essay It is the responsibility of the teacher to make the teaching area a safe and fair environment to learn in and teachers should be aware of, and keep up to date with key legislation relating to this. The Health and Safety at Work Act (1974) covers a number of duties relating to teaching and learning. Risk assessments should be carried out and risks properly controlled to ensure a safe working environment. Besides the Health and Safety at Work Act itself there are important pieces of legislation that would apply to a sewing workroom environment. 1. Provision and Use of Work Equipment Regulations. 1998: require that equipment provided for use at work, including machinery is safe. 2. Manual Handling Operations Regulations 1992: cover the moving of objects by hand or bodily force. 3. Electricity at Work Regulations 1989: require people in control of electrical systems to ensure they are safe to use and in a safe condition. The Equality Act (2010) aims to eliminate discrimination based on age, disability, race, religion, belief, gender and sexual orientation. It places a duty on teachers to make reasonable adjustments for disabled people. It also provides protection against discrimination relating to pregnancy and maternity. Teachers must also adhere to the Children Act (2004) that places a statutory duty on them to make arrangements to safeguard the welfare of children. The Act gives responsibility to local authorities to make enquiries when anyone contacts them with concerns about child abuse. The aim is for every child, whatever there background or circumstances, to have the support to: Be healthy Stay safe Enjoy and achieve Make a positive contribution Achieve economic well-being ii) Following the Further Education Workforce Reforms 2007 New Regulatory Requirements state that all new teachers are to hold or acquire within a specified period of time: A ‘Preparing to teach in the Lifelong Learning Sector’ (PTLLS) award or its equivalent as a minimum license to teach for all who have an element of teaching in their role irrespective of job title; and either A diploma in teaching Level 5 status for those in a teaching role; or A Certificate in Teaching in the lifelong learning sector at Level 3 or 4 All new teachers must demonstrate through professional practice that they meet the standards and can use effectively the skills and knowledge acquired in teacher training. iii)The Institute for Learning (IFL) is an independent professional body for teachers, trainers, tutors and trainee teachers across the FE and skills sector. It has a code of conduct which outlines the behavior expected of its members. Briefly it states that members shall: Behave with Professional Integrity Respect the rights of learners and colleagues Take reasonable care to ensure the safety and welfare of learners Provide evidence of CPD according to IFL policy and Professional Practice guidelines Ensure disclosure of any cautioning or conviction of a criminal offence Be responsible for acting in accordance with the conditions of membership and assisting the Institute with any investigation. b) Boundaries The Teaching or Training Cycle consists of five processes namely: Identifying Needs The purpose is to identify if the students face any barriers which may affect their learning or if they have any additional needs. There are many ways to do this and could involve; looking at their initial application if one is completed before the course starts, an informal discussion, observation during a class activity or by an initial test or assessment. It is also important to ensure that the student is on the correct course and to offer any advice perhaps with funding or travel referring them if necessary. The process will also help with the planning of the course as it will help the Tutor design a course suitable for the skills and experience of individual class members. Plan and Design Learning – This stage involves the planning of the content of the course. A scheme of work will be designed to plan the content of each session and lesson plans devised to organize them in more detail. When possible agreeing individual learning plans can be agreed with students and contingency plans made to take into account different needs of the learners. This would also be the opportunity to prepare learning resources and activities. Risk assessments need to be carried out and all attempts made to create a safe, positive and accessible learning environment. Deliver – A Teacher should be well organized, well prepared and enthusiastic when delivering a lesson. They should be able to communicate appropriately and effectively and act and speak appropriately. It is essential to promote equality, value diversity and teach in an inclusive and engaging way with a good sense of humour. Assess Work needs to be assessed within a reasonable time to check that the students have gained the necessary skills and knowledge. Use a variety of assessment methods and keep a record of achievements. Feedback should always be constructive and given within a reasonable time. Evaluate – A programme should always be evaluated in order to improve the teaching and learning process. To evaluate how well the programme was planned and delivered feedback should be encouraged, accepted and acted upon. The teacher should encourage student development and progression as well as maintaining their own teacher development and professional currency. (GRAVELLS 2012) There are boundaries within which a teacher must work and it is important not to overstep these by becoming too personal with the students. It is also important to know where the role of teacher stops and to work within the limits of that role. Some examples are: If a teacher identified that a student was struggling to attend classes because they couldn’t afford the bus fare it would be inappropriate to lend them money. In this instance the student should be referred to the student support staff or the financial support staff. If a teacher was planning a class but found the room had insufficient access to equipment or resource’s it would be unacceptable to voice their concerns to the students. This would be unprofessional, they should address it to the organization, or change the lesson plan to accommodate the resource’s available. Students may choose to confide in their teacher about personal issues and, although a teacher should be understanding and sympathetic, it is important that they maintain a professional role. The student could be referred to a councillor, pastoral staff or support staff depending on the issue concerned. They should avoid getting involved in the personal lives of their students. When assessing students it is important that teachers are fair in their judgments. They should not bebiased towards or against any one student. When evaluating the teaching and learning programme the teacher should be able to listen to and react to feedback in order to improve. If in doubt about the boundaries of their role a teacher should seek advice. This could be from another teacher, a colleague, their line manager or their mentor. c. Points of Referral A teacher may encounter learners with varying degrees of needs. They may be able to deal with some of these needs but some may need the support of other professionals. A Support Worker will help a learner with additional needs. They will have had special training in the particular field required by that learner which the teacher won’t have had and will be able to support them in or outside the classroom setting. There may be a student whose first language isn’t English and has trouble understanding the lesson so there may be a need to work with an interpreter A teacher may also need to work alongside external agencies like the Job Centre. The students may be leaving the learning environment and looking for work and the Job Centre will have the advice and information that they need. d)Promoting Appropriate Behavior i) Having a preventative strategy is a good way to promote appropriate behavior in a lesson. Be prepared and waiting for the learners in the classroom so you can take control of the space and organize it as you wish. Getting the student’s attention with an interesting starter activity shows that you are in control of the class. Present the aims and objectives and share the session plan explaining the purpose and reason for studying it. When planning a lesson ensure there is plenty of variety as students are more likely to behave well if they are stimulated and are not bored. You should have realistic expectations of your class for example, don’t expect a room full of teenagers to sit still through an hour-long power point presentation quietly. ii) Decide for yourself what rules and procedures would create a good atmosphere in your class and will maximize learning. Explain that you want an effective, fair and happy classroom and discuss the rules with the class. There will be rules that are non negotiable for example regarding safety or turning up on time but be prepared to negotiate and compromise to get commitment on others. Encourage the learners to contribute to the rules and procedures. Students are more likely to adhere to rules they have been instrumental in creating. Consider asking the class to devise their own rules and if you reject a popular suggestion be prepared to explain why to justify your decision. The aim is to get the students onboard with the rules and procedures and see them as their own; they will then see them as worth keeping and enforcing. iii) It is important to develop a good rapport with the students as this creates a more positive attitude towards the teacher and to learning. It will also turn the classroom into a co-operative team and reduce antagonism. Get to know the students on a personal level, learn their names and use them. Learn something about each student like what they like to do in their spare time, their hobbies, interests or work and refer to it in conversation. These small details will make the students feel noticed, valued and liked by the teacher and therefore more co-operative. (PETTY 2006)

Amylase Activity In Germinating Barley

Amylase Activity In Germinating Barley Amylase is a calcium dependent enzyme which hydrolyzes complex carbohydrates at alpha 1,4-linkages to form maltose and glucose. Amylase is an enzyme found in the germinating seeds. Imbibition process causes the release of growth plant hormone gibberelin which stimulates the synthesis of amylase. The activity of the amylase enzyme is affected by many factors such as temperature, pH, enzyme concentration, substrate concentration, and the presence of any inhibitors or activators. In germinating barley, the food reserves are stored in the endosperm. The cotyledons store food for the use of embryo in the form of starch. Amylase enzyme breaks down starch into maltose, a chain of two glucose molecules Maltose then breaks down into glucose by the enzyme glucosidase. Glucose then enters the glycolytic pathway where it is used for the production of ATP and carbon molecules for biosynthesis. Glucose is used for the growth of plumule and radicle. This process is also known as the germination pro cess. The emergence of plumule and radicle indicate that the seeds have germinated. In germinated seeds, the blue colour of the Benedicts solution change to brick-red precipitate indicating the presence of glucose while maintaining the yellowish-brown colour of the iodine solution indicating the absence of starch. However, in non-germinated seeds, the yellowish-brown colour of the iodine solution change to blue black indicating the presence of starch while maintaining the blue colour of the Benedicts solution indicating the absence of glucose. Most of the time, when all the starch have been used up, the seedling capable of undergoing photosynthesis to produce energy and carbon. Hypothesis The higher the amylase activity, the higher the rate of seed germination. This is observed by a higher change in length of plumule and radicle. Hence, when performing the Benedicts test, the concentration of brick-red precipitate is higher seedlings and the solution remains blue for the dormant seed. Aim The aim of the experiment was to extract amylase from barley and to use it for the catalysis of a biochemical reaction hence investigating the amylase activity during seed germination. Materials and methods Ten germinating seeds were taken and using a paper towel, the germinants were patted dry and the weight of the germinating seeds were recorded. Next, using a mortar and pestle, the 10 germinating seeds were crushed into a puree. Slowly adding 10 ml of buffer, the germinating seeds were further crushed for two minutes. This will allow the amylase to go into the solution. The crushed seeds was filtered into a 100 ml beaker and the amylase extract was poured into a measuring cylinder. The volume of amylase extract was recorded. A five-fold dilution of the latter was done by pipetting 5 ml of the amylase extract and adding 20 ml of buffer to make up a total volume of 25 ml. This mixture is called the diluted amylase extract. A control was then done by adding 5 ml of the diluted amylase extract in a test tube and placing it in a water bath at 80o C for 10 minutes. When the 10 minutes have elapsed the control was removed and allow to cool to room temperature. Next the activity of amylase per mass of germinating barley tissue is to be determined. For this, onto ceramic plates, one drop of iodine was placed into 21 wells. A reaction mixture was then prepared by adding 5 ml buffer and 1 ml of 0.5% starch solution in a test tube. Then using a pasteur pipette, one drop of the reaction mixture was removed and added to one drop of the iodine. The iodine turned blue black. This was done to ensure the presence of starch in the reaction mixture. The previously made diluted amylase extract is thoroughly remix and 1 ml of the latter was added to the reaction mixture. The mixture is called amylase reaction mixture. (As soon as the amylase reaction mixture was prepared, reaction started. Amylase started to break down starch into simple sugars). Immediately, starting with well 0 on the ceramic plate, one drop of amylase reaction mixture was added to the iodine using a pasteur pipette. At one minute interval, another drop of the amylase reaction mixture was added to another well. This was repeated until the achromic point was reached. When the achromic point had been reached, the time elapsed was recorded. Once the achromic point was reached, the amylase reaction mixture was kept for the determination of maltose. (Note: Benedicts reagent gives a red-yellow precipitate of cuprous oxide when boiled with maltose. This reaction does not occur with starch.) In a test tube, 2 ml of the amylase reaction mixture and 2 ml of Benedicts reagent was added. A control reaction mixture was also prepared by adding 5 ml buffer and 1 ml of 0.5% starch solution but without the amylase extract. 2 ml of the control reaction mixture was then added in a test tube along with 2 ml of Benedicts reagent. Both the Benedicts reagent tubes were placed in a water bath at 80oC for 10 minutes and then examined for presence of cuprous oxide precipitate. All of the above steps were then repeated but with dormant seeds and seedlings. All data were then recorded for further investigation.

The Concept Of Pricing To Market Economics Essay

The Concept Of Pricing To Market Economics Essay The term Pricing to Market was first examined by Paul Krugman in 1987 (Kasa, 1992).The concept of PTM was explained by Krugman with the reference to the example of European automobile industry, in which he describes that the increase in US dollar against the European currency was the reason for the price difference in automobiles in US and Europe. Due to this difference in price the firms in the US started importing from Europe. In response the European firms adjusted there price against US dollar to maintain the export price in the market. This phenomenon of adjustment to the export price by the foreign firm is known as Pricing to Market. Similar definition for this concept, for instant, given by Mark (2001) in which he described PTM as the ability to set different prices in the domestic and foreign market, this price discrimination is practiced by monopolistically competitive firms in order to take advantage of international pricing differences. Therefore, we can say that PTM is the way of adjustment of prices for different market by firms in order to exploit the international price differences. He also explained that integrated international market have given rise to this concept, by segmenting it into two different markets, Domestic and foreign market, as well as the concept of price discrimination. This essay will outline and review the concept of pricing to market. It will be followed by the implications of PTM for purchasing Power Parity. Furthermore the empirical evidence on the extent of pricing to market will be discussed. According to Knetter (1989) value of goods to be exported by a firm varies due to the fluctuations in the exchange rate between the home country and the foreign country, which effect the marginal cost of the goods, to stabilise the effect of exchange rate the same type of goods are sold for different price in different market, this term in literature is known as pricing to market. The concept of pricing to market deviates from the law of one price, which states that goods of same type are sold for same price in different markets (Sarno and Taylor, 2002). It means that PTM deviates from PPP or does not hold PPP. The factors responsible for this deviation are the: Price discrimination: if the producer is selling similar tradable goods in different markets which are segmented as a consequence of transportation costs, imperfect information and trade barriers then the producer maximise its profit by discriminating price, different price for same product in different market. Exchange rate pass through: it means that the fluctuation in the exchange rates in the international market is adjusted by the changes in prices of the goods in domestic market. Temporal shift of profits: monopolistically competitive firms willing to increase their profit margins when there is an increase in the foreign currency. The above statement is explained by Kasa (1992) in which he states that the pricing to market was not only driven by price discrimination as well as some other factors were also influential. As stated by Krugman (1987) that the pricing to market is related to market structure of the respective country in the international trade. There three factors explained by Cheung (2001) responsible for the adjustment of relative prices to the exchange rate are the following: Market integration or separation It means when the price in market A and price in market B are strongly related to each other, then it is said to integrated market and in the absence of this relation it is known as market separation. The reason for this due to factors like absence of transaction cost to foster competition, to increase the flow of investment and consumption and the market structure. Substitution between domestic and foreign variant of a product If there is a close substitute between the domestic and foreign then the demand for the product will be elastic and vice versa. We can also state it as market power, because if there is no close substitute for a particular product in a specific market, then the firms are having significant market power to set prices. Market structure Market segmentation determines the level of competition in the industry, which affects the response of the firms to the exchange rate changes and result in price discrimination. Since, PTM plays a significant role in determination of exchange rate in international macroeconomic fluctuations, studying it reason for existence is very important. There are few reasons stated by: According to Krugman (1987) PTM exist if the import prices are not adjusted in proportion to the changes in exchange rate. Knetter (1993) explains that PTM occurs as a result of adjustment costs or intemporal demand linkage. As well as Alexius and Vredin (1999) explained that degree of PTM is also influenced by the aggregate import demand of the destination country. As explained by Naug and Nymoen (1996) that maintaining the import price is significant for its performance in international trade because it effects the terms of trade and trade balance as well as there are many other reasons like domestic inflation and foreign competition. However now we are going to explain the implication of PTM for Purchasing Power Parity (PPP), but first briefly elaborated the term PPP. It means that a unit of currency should have the same worth in different country if the prices are expressed in common currency. As stated by Grauwe (1996) the theory of PPP explains that exchange rate equilibrium is determined by the changes in the domestic and foreign price ratio. Taylor and Taylor (2004) argue that PPP theory means the nominal exchange rate between two currencies should be equal to the ratio of aggregate price levels between the two countries, so that a unit of currency of one country will have a same purchasing power in foreign country. The basic concept underlying this theory is that the arbitrage forces will result in balancing the prices of goods in different countries by exploiting the price differences across borders. This implies that the use of PTM by monopolistic firms is not appropriate, but this concept still exist because there are many reasons to support that the price cant be equal everywhere like trade cost ,tariff and non-tariff barriers, trade policies etc. Due to which the firms are forced to set different price because these factors are not reflected in the exchange rate, low exchange rate pass through. There are two version of this theory: Absolute PPP: it is states that prices of identical goods are equal in different country if the exchange rate is in common currency. Algebraically, it will be stated as S = P /P* Where S = Exchange Rate P = Price of identical goods in domestic country P*= Price of identical goods in foreign country According to Pilbeam (2006) in the case when domestic inflation rises with respect to the inflation in foreign country, there is a proportional decrease in the home currency to the foreign currency. Relative PPP: it simply states that the difference in inflation level of two different countries is reflected in the exchange rate adjustment. Algebraically, it will be represented as % (change) S = % (change) P % (change) P* Where % (change) S = percentage change in exchange rate % (change) P = percentage change in the domestic inflation rate % (change) P* = percentage change in foreign inflation rate The exchange rate movements and PPP are inversely related (Grauwe, 1996) which was experienced by US in 1980s when their currency and inflation rate increased more than German inflation rate. According to Betts and Devereuse (2000) PTM increases the volatility in exchange rate which in result affect the consumption and output pattern of the country. It also shifts the global demand toward the weak currency, therefore the aggregate export of the particular country increases. In the example US and Germany automobile export, assuming that there is imperfect completion, Germany is having significant market power. If there is an increase in US dollar against German currency, the prices of German export will decrease in US, the US importer affects the price rise Germany by implementing PTM. According to Cheung (2001) there are deviations in PPP due to the incomplete pass through of exchange rate, which caused due to PTM. Therefore, if there is low exchange rate pass through, the exchange rate does not affect the price rise in Germany which in result states that it does not hold PPP. Furthermore, the empirical evidence on the PTM is discussed with reference to the work of many scholars as follows: According to the research conducted by Krugman (1987) in which he investigated the extent of PTM with respect to the foreign suppliers to prove that the concept PTM is real but not applicable in all cases. In case of US and German automobile industry, he studied the correlation between the market structure and PTM through trade models. The basis of comparison to study the extent of PTM was: US manufacturing import price with the import price index by using export price of major trading partners. Germans price on export of automobiles with other European countries (extra European export). Comparing the export price of Germany to the US and the rest of world. The conclusion of the above study done by Krugman (1987) was that when PTM comes into existence when the exchange rate changes in the case of US and German trade, because when the US dollar appreciate the price of US import and price identical goods in rest of the world is affected. But there were some limitations of PTM, in the case of US and German trade the effect of PTM was only seen in transportation equipment and machinery industries, due to which it can be stated as a universal phenomenon. In 1992 Kasa studied the effects of exchange rate on prices of goods using the adjustment cost model. According to him the monopolistically competitive firms which are capable of setting prices for different market utilise their profit margin to maintain different price in foreign markets. He also developed a dynamic price setting model by analysing the firms using PTM for trading in foreign markets. Due to the price adjustment by the firms the marginal cost of supplying goods to the foreign market causes systematic deviation of PTM from Law of one price. Finally he states that the transitory component of exchange rate are the only significant factor which influence the PTM, which was supported by the fact that German import prices appreciated in US, in relation with other countries due to the effect of rise in US against Deutschmark. Lavoie and Liu (2007) examined the result of PTM when the differential products are taken as export units in which he revealed that the PTM shows false result in the case of differentiated product taken in export units (value and volume of specific product and country). According to him the deviation in the result of PTM is positively related to the degree to differentiated product. Similarly, Alexius and Vredin (1999) argued that systematic differences between the prices in different markets and the export prices are affected by the macroeconomic conditions of the respective country. His research stated that aggregate demand in export market and the exchange rate affects the PTM. As well as he described the large and persistent deviation of PTM from Law of one price, are due to the changes in exchange rate. In conclusion, PTM is the actual phenomenon which is influenced by many factors like degree of exchange rate fluctuation, product differentiation, macroeconomic factors of the respective country, and amount of aggregate export of a country, but can be applied universally. At last it would be appropriate to state that PTM is efficient pricing behaviour by the monopolistic firms.