Cinderella A Comparative Critique Essay Example

Cinderella A Comparative Critique Paper As children we have all heard the story of Cinderella many times before. In this story we are enchanted by a magical idea that fairy tales exist, true love is real, and that there is such a thing as a happy ending. Two authors, Catherine Orenstein and Peg Streep, both write articles based off of the story of Cinderella and what they believe are the true hidden meanings behind the story. The article â€Å"Why the story of Cinderella Still Enchants† by Peg Streep is more focused on the happily ever after ending than Catherine Orenstein’s article â€Å"Fairy Tales and a Dose of Reality†. Orenstein thinks people have made Cinderella into a reality fairy tale that is not so much based on true love but more on the false appearance that there is one. Many people when they were children heard of â€Å"Cinderella† as long with many other children stories. It sparked their imaginations and their beliefs in fairy tales. Some children did grow out of the true love fairy tale and some grew up to still believe in it. Orenstein’s article exceeds all the childish magic, unlike Streep’s article. Orenstein says the story has blinded many in the hopes of looking for a fairy tale love, and they focus too much on the reality of true love and happily ever after’s. However, Streep’s article states that â€Å"Cinderella† is a story that children fall back on whenever they feel left out. It is a story that is relatable to the child’s emotions. The children will see that Cinderella is unwanted and underappreciated but that she then gets what she wishes for all thanks to magic. Both authors give more of their opinions than actual facts on how people were truly affected by the â€Å"Cinderella† story. We will write a custom essay sample on Cinderella A Comparative Critique specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Cinderella A Comparative Critique specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Cinderella A Comparative Critique specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Orenstein concentrates on reality television bringing up our childhood fairy tales and how they use illusions on try to portray our fairy tale fantasies in real life. She uses shows such as â€Å"The Bachelorette,† â€Å"Married by America,† and â€Å"Th

The Drowner Essays

The Drowner Essays The Drowner Essay The Drowner Essay Essay Topic: Drown Language in literary texts often plays an integral role in shaping meaning. The Drowner (1996) is a contemporary Australian novel. Set in the lath 19th century and early 20th century the romance and historical epic follows the life of protagonist, William Dance, his relationship with Angelica Lloyd, and his Journey from England through, Africa, to Western Australia. Poetic Language, in particular symbolism, imagery and metaphors, are extensively used to construct and Juxtapose settings, characters and their relationships. The title of the novel can be interpreted both on a literal and metaphorical level, hich clearly establishes water as a motif and metaphor tthroughout the novel. Drowning refers to the act of controlling the flow of water, and is done by a Drowner who is a rural water engineer who is responsible for keeping the fields fertile. In the first section of the novel, The Art of Floating Land, readers are introduced to the character of Alphabetical Dance and his occupation as a drowner, sustaining life through the act of drowning, and hence water is established as a life-giving force. On a more metaphorical level, the word drowning has connotations of death. Thus, the title Juxtaposes the idea of water as a life-giving force, and introduces it as a life- taking force, constructing the duality of water which is a central theme tthroughout the novel. Language, particularly imagery, plays an integral role in the construction of Will and Angelicas relationship tthroughout the novel. At their first encounter in the section Spa Water, the atmosphere is portrayed, through the use of vivid sensual imagery, apealing to the readers sense of aesthetic Judgement. Olfactory imagery is used describing lavender rapped in the activated stream. This pleasant odour is complimented with auditory imagery, Handel trickles into the baths. This imagery evokes synaesthesia for readers and clearly constructs Will and Angelicas relationship as blossoming and passionate, with an air of optimism for the progression of their relationship tthroughout the novel. However, later in the novel, the smell of lavender which was symbolic of their fresh and pleasant relationship evolves into the stench of rotting shark, as the dynamic of their relationship changes on their Journey to Africa. Sensual images are once again evoked as Angelica is descriptively riding him as if she could wrench both his character and the spirit of Africa from him. This vivid imagery gives readers a sense of violence and desperation, which Juxtaposes the earlier sense of optimism for the relationship. Language therefore plays a pivotal role in constructing William and Angelicas relationship, and foreshadowing the eventual entropic demise of their relationship. Language also plays an important role in presenting the disintegration of Will and Angelicas relationship. The isolation of Western Australia negatively impacts their relationship as Angelica becomes withdrawn and Will becomes desperate. Wills sexual desire is as sthrong as ever as he peels her dress and enters her in the snallows 0T tne water. I ne Klnaestnetlc Imagery 0T tne cola water, tne auditory images of Wills sobs and the vivid visual imagery of their bodies entwined in the water once again evokes synaesthesia in the reader. However, this synaesthesia does not appeal to readers aesthetically, and can even be described as un-aesthetic as Will is seemingly taking advantage of Angelica in her current fragile state due to her Blackwater fever. This creates Juxtaposition in the novel between Will and Angelicas first sensual encounter which appeals to readers, and their final sensual encounter which is almost repellent to readers. Due to the poetic language used, readers are able to clearly see the disintegration of the pairs relationship. Language is once again significant in constructing and Juxtaposing the antipodean landscape of the Western Australian desert. The landscape is described as arid plains, with isolated hills. The visual imagery depicts a setting which is a harshly masculine, monotonous and isolated. These characteristics can also be found in the goldfielders, who are the occupants of the town. This landscape is said to have obliterated individuality. The sound of the town is described to be a blend of braying camels and a malign roar of drinking men. This auditory imagery further emphasises the harshness of the setting as it bring out the animalistic nature of the goldfielders. The leitmotif and metaphor of water as a life-giving force and life-taking force reoccurs, as the lack of water is responsible for the baked and Juiceless bodies found in the desert. This almost gory imagery is pivotal in Juxtaposing the harsh Western Australian climate with the apealing setting of England. Symbolism plays a vital role in the construction of Angelica Lloyd. The section Spa Water, will notices a black swan, charcoal black back and red beak. Angelica however, points out that the swan should be white and plumper. This is symbolic of Angelica because the black swan foreshadows her travel to Australia, as the black swan is iconic to Western Australia, and hence is symbolic of change. Secondly, the idea of beauty that a swan symbolizes plays and important part in forming the character of Angelica. This is because Angelica focuses on what the swan should be rather than what it is which is symbolic of the actress in her, building beautiful facades. As Angelica travels through Africa, Angelica has a dream where her white horse gets destroyed by the smell of rotting shark. The majestic and powerful horse eing destroyed by the overbearing smell is symbolic of Angelicas dreams and aspirations being diminished as she travels to pursue Williams dreams and not hers. Thus, symbolism is important in constructing the character of Angelica. In conclusion, poetic language is particularly important for readers to shape meaning in the novel, The Drowner. Symbolism, metaphor and imagery play vital roles in constructing and Juxtaposing settings, characters and their relationships, as well as showing the progression of events in the novel and foreshadowing future events in the novel.

Stratigic Management Essay Example | Topics and Well Written Essays - 750 words

Stratigic Management - Essay Example Although it has the highest rates of spending, the returns are very low even as 16 percent or 44 million people are uninsured (Mendenhall, 2006). Although the health care industry was slow in adopting strategic management, external factors coupled with dramatic changes in Medicare instigated from various sources including legislative, demographic shifts, new technologies, economic and market changes forced the sector to adopt and implement stratagems in cope with the continuously changing environment. Some of the challenges facing health care are poor information technology, lack of innovation, security and confidentiality issues, accuracy and laboratory testing among others compelling the industry to embrace modern strategic methods. According to the Baldrige National Quality Program (2006), a competent health care should be founded on the following key components: visionary leadership; patient-focused excellence; organizational and personal learning; valuing staff and partner; agility; focus on the future; managing for innovation; management by fact; social responsibility and community health; focus on results and creating value; and systems perspective. This are effected by implementing the following seven components: leadership; strategic planning; focus on patients, other customers, and markets; measurement, analysis, and knowledge; management; human resource focus; process management; and results (Hertz, 2006). The strategic management execution requires focus on the organization core competencies that emphasizes the implementation of its finest aspects that are unique, distinct and are not prone to imitation. Similarly, the organization must identify its core or shared values as well as analyzing its criti cal success factors or a working formula including the leadership aspects that compliment organization competencies (Grant, 2003). A

Brazilian Real Currency Report Research Paper Example | Topics and Well Written Essays - 1000 words

Brazilian Real Currency Report - Research Paper Example The objective of this paper is to shed some light on the key factors affecting the behavior (in terms of appreciation) of the real, and specifically to evaluate the extent to which the expanding size of Brazil’s oil sector in the economy has influenced the explanation of these events. Oil production in Brazil has been growing strongly since the turn of the millennium. A variety of energy policies which brought competition in the oil market and abolished subsidies to price controls and imports has supported these developments. This is despite the fact that the industry is still dominated by Petrobas, the state-owned corporation (Kumar 25). Going forward, Brazil’s economy is likely to become increasingly dependent on oil production, particularly of offshore oil, for both local use and export (Guimara?es 19). Petrobas discovered huge oil reserves that have been estimated to have the capability to double the country’s current reserves, propelling the country to among the top 10 countries with respect to oil reserves alone. Oil developments have had a significant impact in explaining the movements of exchange rates, in addition to traditional factors. In a majority of equations, the productivity differential and net foreign assets have been found to be crucial determinants of the true effective exchange rate in the long-term (Kumar 47). Net foreign assets have also been found to be the factor affecting the most exchange-rate fluctuations in the short term. Oil production appears to be significant for movements in the real effective exchange rate in the long term. The case is similar in the oil export and the two standards of the terms of trade. In the short term, however, these variables appear to have an insignificant, if not fairly limited impact (World Trade Press 44). Exchange Rate Regime Brazil has implemented a governed floating exchange rate regime. This means that the exchange rate is free-floating and can shift daily in line with the su pply and demand in the market. If necessary, the Brazilian Central Bank can intervene in exchange rate. Interventions occur in 3 conditions: to manage extreme volatility that may affect the market’s normal functioning; to rectify monetary and localized instability in liquidity; and to grow foreign exchange rate reserves (Frieden & Stein 37). Balance of Payments (BOP) Position The Central Bank of Brazil (CBB), via the Balance of Payments Division of its Economic Department, is tasked with responsible for compiling, monitoring, and analyzing Brazil's balance of payments data (Frieden & Stein 74). In addition to this, it publishes and disseminates this data. The primary sources of information for compiling the entries of balance of payments goods are reports from the Secretariat of Federal Revenue of the Ministry of Finance, the Foreign Trade Secretariat of the Ministry of Development, Foreign Trade, and Industry. For other BOP transactions, the primary source is the exchange re cord a comprehensive statement of the exchange operations compiled by the Central Bank of Brazil’s Foreign Capital and Exchange Department and reported by the country’s banks. Brazil’s current BOP, in US dollars, is -52, 480,127,065 (Kumar 84). Purchasing Power Parity Brazil’s current purchasing power parity is $2.362 trillion (2012 estimates) (Guimara?es 59). Interest

Structure Of Nigerian Financial System Accounting Essay

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

On the Beach: Sexism and Tourism Essay

Since the 1800’s, tourism has played a major role in the world economy. It has helped improve suffering economies that are unable to rely solely on their exports, and provided poorer nations with foreign currency and foreign investment, which can help to improve the economy of the poorer nation. Tourism has also encouraged development of modern skills as well as new technologies. (Enloe 233) In conclusion, tourism has become one of the most valued sources of income for many countries around the world. However, while tourism has played an important role in the economic standing of underdeveloped nations, it has also encouraged many gender stereotypes, and as not provided to be an equal or a non-discriminatory industry. Two of the major areas in the tourism industry where there are obvious gender differences are in advertisement and employment. When it comes to the issue of tourism and advertisement, the way men and women are depicted in tourist advertisements are based upon peo ple’s presumptions about masculinity and femininity. Because of history depiction of males as the one’s whore are more likely to travel, and women who travel as being improper, (Enloe 208) the majority of tourist advertisements are directed at men. This is apparent through the use of sex appeal. An example of an advertisement that uses this device is the advertisement for Singapore Airlines, which is mentioned in the text On the Beach: Sexism and Tourism. In this advertisement, there is nothing more but a ethnic woman holding a lily while standing in a misty setting. No information about the airline and its rates are given. (Enloe 222) This clearly demonstrates how women are used for there femininity is tourism advertisements. This obvious use of sex appeal is used to entice men to use Singapore Airlines. When deciding what airline to use, they’re more likely to remember the one that had the attractive woman in its advertisement. Furthermore, it is possible for them to hold a subconscious belief that they will meet a woma n similar to the one depicted in the advertisement if they use that airline. Even in the advertisements that do show males, the differences between masculinity and femininity are apparent. The men will often be shown in police or military uniforms to give an image of safeness and security. On the other hand, women are usually depicted in colorful peasant dress, to give the illusion of them being welcoming and, more importantly to the male viewers, available. (Enloe 222) The way the most ethnic women are depicted in these advertisements  gives the illusion that they are wilder and easily attainable, much more so than women back home. Men seeing these women depicted in the advertisements as they are, are more inclined to view them as something to experience and enjoy. (Enloe 216) The gender stereotypes in tourist industries are reinforced by the choice of employees, as the majority of them are women. For example, in the Caribbean, during the 1980’s over 75 per cent of tourist employees were women. The reason for this high percentage is due to the fact that most of the jobs that relate to tourist industries are viewed as women’s work. The most common tourist industry jobs involve cleaning, washing, cooking, and serving. On of the reasons the female employment rate for the tourist industry is so high is because in society a man who took part in women’s work was seen as losing is masculinity, whereas these jobs were not seen reducing femininity for women. As well, studies have shown that women tourists prefer, and feel more comfortable when other women wait them on. (Enloe 223) Furthermore, because women are usually passed a lower salary than men, by hiring more women employees, tourist companies are able to cut cost by paying the women employees far less than they would the males. (Enloe 224) The use of gender stereotypes in the tourist industry, as outlined in the text On the Beach: Sexism and Tourism are predominantly used for improving sales, and cutting financial costs. Tourist companies are aware that the depiction of women as exotic and welcoming will appeal to males, and hiring more women employees that men is financially beneficial. As a result, it is likely that these gender stereotypes will remain unless they become the cause of a decrease in profits.

Adapting Communicative Language Teaching Approach to China’s Context Essay

1. Introduction With the development of market economy, China is accelerating its steps to join the world family in commerce and cultural partnership. With the recent accession to the WTO, the long-awaited Olympic Games in Beijing, China has made learning English a national priority. English, with its unique status, has been taught in China for more than 100 years. Today, English is becoming more and more popular. It is a compulsory course for all Chinese students from primary school to university. Clearly it is relatively easy to demonstrate the importance of English in current China. This essay intends to argue that to achieve success in English learning for Chinese students the methods of teaching must be reconsidered. Therefore this article is structured as follows: First, analyzing different types of English teaching methods in China and then focusing on the CLT Method. By analyzing and contrasting these English teaching methods, the need to change current English teaching methods in China will be discovered. Finally, explaining the problems of adopting the more modern CLT Approach and giving suggestions on how it may best be adapted to the Chinese context. See more:  Social Satire in The Adventures of Huckleberry Finn Essay 2. A Brief Introduction to English Teaching Methods in China 2.1 Grammar-Translation Method  English has been taught in China for more than 100 years. In the beginning stage, people did not have any experience on modern language teaching and learning, so they followed a European language teaching method YE Jin (1978- ), Master of education, lecturer of School of Foreign Language, Shenzhen University; research fields: English language teaching methods, cross-cultural communication, educational assessment,which is used in teaching Greek and Latin in Middle Ages in Europe—Grammar-Translation Method. Some Chinese students become accustomed to this method in learning English and generally showed great interest in language structures and linguistic details. Most of them believe â€Å"we would like to know what happens, because if we understand the system, we can use English more effectively† (Harvey, 1985). Therefore, most Chinese English teachers always stick to this method, and think it is essential to analyze grammar to learners, without considering the age of the students or their English proficiency. This method is effective and suitable for some Chinese students, but not all of them. The outcome of this method is that students develop poor oral English ability with pronunciation and intonation not standard. Although they have learned lots of grammar rules, when using English to communicate, they will make grammatical mistakes frequently. Especially when they are in foreign countries, they cannot ask the way; they cannot order taxi. They are â€Å"observers† rather than active participants in classes. Students became almost â€Å"structurally competent but communicatively incompetent† (Johnson & Morrow, 1981). It has been pointed out that this grammar-oriented approach reflects an artificial and formalistic view of language skills and learning. It doesn’t allow the learners to use a language in a natural way (Widdowson, 1990). This is the most serious problem in Grammar-Translation Method and also in current China’s English teaching. 2.2 Direct Method  This English teaching method is totally different from Grammar-Translation Method. It uses English directly in teaching, such as using English to make conversations or have discussions. Students’ English competence is developed in this way instead of using mother tongue to translate. The basic principle of this method is that the foreign language learning process should be like the natural process of a child learning his or her mother tongue. It believes that language is a skill or habit, and this habit can be achieved by repetition and imitation. Although this method can inspire students’ interests in learning English and is in favour of their English pronunciation and intonation, it has certain limitations: (1) It only focuses on experiences and perceptual knowledge in English and it has little estimate on students’ level of consciousness. (2) This method rejects mother tongue in English teaching. It only sees the disadvantages of mother tongue, but never makes use of mother tongue to facilitate students’ comprehension. (3) After learning English for a long time, some students may understand simple oral English but not complicated sentences and have poor grammar skills. (4) The class size should be small in using this method. So this method is just suitable to teach English beginners, and cannot be fully applied in the large country—China. 2.3 Audio-Lingual Approach  This English teaching method puts listening and speaking in the first place. It uses sentence pattern as the base of teaching and tries to avoid mother tongue in class. When using this method in learning English, students should first listen and then speak. After a long time practice, students can automatically express what they had heard. Because this method relies on repetition and drills, the main limitations are: (1) It over emphasizes the mechanical practice and ignores students’ English skills training and learning flexibility. (2) This method focuses too much on the language structure and ignores the meaning of the language, so students’ reading and writing abilities are poor. 2.4 Communicative Language Teaching Approach (CLT)  In the early 1990s, a new English teaching method was introduced to China—Communicative Language Teaching Approach. This method emphasizes how to use language as a media to communicate. Teachers should not only train students’ listening, speaking, reading and writing skills, but also train them how to use all of these language skills into the real life communication. The teacher sets up a situation that students are likely toï ¿ ¼encounter in real life. The CLT can leave students in suspense as to the outcome of a class exercise, which will vary according to their reactions and responses (Galloway, 1993). The basic features of CLT are: (1) It focuses on students’ active participation, the whole classroom is not the teacher-centered, but students-centered one. The teacher should give students enough time to practise during class. (2) The English teacher should help students to be more independent, active and fluent in using English. In real life situation, students will use the language without teacher’s help. (3) When using the CLT, the teacher often organizes pair and group work, the whole classroom setting should be arranged in favour of these activities. Although this method is quite useful and can inspire students’ interest, it still has some limitations: (1) The textbook using in CLT breaks up the English grammatical system, which increases students’ difficulty in learning grammar. (2) This method is hard to assess. The above four English teaching methods are all used in China in different time and to a certain extent; they have their own features and focuses on improving different language skills. So the limitations are unavoidable when we use them separately in English teaching. Among them, the oldest language teaching method—Grammar-Translation Method is still popular in some places in current China. Meanwhile, for various reasons, using the CLT in China met considerable difficulties. How to use the CLT in China’s English teaching context properly still has a long way to go. 3. Adapting Communicative Language Teaching Approach in China To solve this problem, we need to use the CLT flexibly, that is to say, we need to adapt CLT to China’s English teaching context. But just as Johnson and Morrow (1981, p. 1) state â€Å"new movements often begin as reactions to old ones. Their origins lie in a discontent with an existing state of affairs†. In fact, in 1992 the State Education Development Commission (SEDC) introduced a functional syllabus, in which the communicative teaching aim was set and the communicative functions to be taught were listed. In the same year, in cooperation with the British Longman, the SEDC published a new textbook series. The syllabus and the textbooks required teachers to teach communicatively in classrooms. This action met considerable resistance at that time. 3.1 Problems  The main problems of adopting CLT in China are: First, class size. In China, each class has at least 50 students, and there are only 45 minutes in one English class. Each student could potentially speak in each class less than 1 minute. So it is impossible for English teachers to conduct CLT well in this kind of class. Second, English teachers especially some primary and secondary school English teachers lack sufficient English knowledge and teaching skills to adopt CLT without further guidance and training. â€Å"Many teachers have tried to change the dominant teaching procedures but quickly get frustrated, lose their initial enthusiasm, and acquiesce to tradition†. (Campbell & ZHAO, 1993) Third, in China the whole process of English teaching and learning is heavily influenced by examinations, and the matriculation English test focuses on students’ linguistic competence. The English teaching pattern in China is textbook-based, teacher-dominated and test-oriented, which prevents students from improving their communicative competence (ZUO, 1993). Finally, lack of teaching materials is another obstacle to adopt CLT in China. Right now, some universities in China stick to their own textbooks—College English, which was published in 1989 by Shanghai Foreign Language Education Press, and has remained unchanged for more than 10 years. College English does include some authentic materials from English novels and magazines, but it lacks practical applications and is hard to organize communicative classroom activities to go with it. Because of the above reasons, English teachers cannot adopt CLT directly in China’s context, and the history 31 Adapting communicative language teaching approach to China’s context ï ¿ ¼has already proved that direct adoption would fail at last. They must adapt CLT and use an eclectic method according to Chinaà ¢â‚¬â„¢s current situation. 3.2 Factors to be considered of adapting CLT to China’s context The above four English teaching methods are all used in China’s English teaching. They have their own advantages and disadvantages. Previous research and analysis show that the most scientific way to teach English in China’s context is to combine those different English teaching methods together, using an eclectic method. An eclectic method is a method that accepts the best teaching techniques from other methods according to the actual situation. To reconcile communicative approaches to the teaching of English with traditional Chinese methods helped English teachers in their teaching, but to be eclectic, teachers were required to use CLT as a method while accepting elements of the traditional methods, especially the Grammar-Translation Method. 3.2.1 Combining accuracy and fluency in China’s English teaching In English learning, accuracy and fluency are two equally important factors, but in China, accuracy is emphasized more than fluency. Chinese students are keenly interested in the exact words, have a low tolerance of ambiguity, and tend to focus on discrete grammar points and specific syntactic constructions (Barnhouse, 1981). Modern society needs students use English not only accurately but also fluently, so more attention should be paid to fluency in the future’s English teaching. As for teaching beginners, a solid foundation of English must be emphasized, which is primarily built on accuracy, so English teachers should use Grammar-Translation Method more in this stage . Then teachers should encourage students to use English orally with as few errors as possible, and to manipulate the language system as spontaneously and flexibly as possible. CLT is largely involved in this process. After students have mastered the language forms, they ought to be given intensive fluency practice, because although linguistic competence is the basis of communicative competence, communicative competence does not automatically result from linguistic competence (DUAN, 1992). At this stage, English teachers should not interrupt students’ practice to correct their mistakes frequently, but at the end of each fluency practice, the teacher should let students aware their mistakes, so they can avoid next time. During the whole practice, the teacher should let students use English extensively and limit the use of Chinese. Through this way, accuracy and fluency can be achieved and students’ English linguistic competence and communicative competence can both be developed. 3.2.2 Student-centered orientation  For a long time, China’s English classroom is dominated by teachers. They always stand in front of the blackboard, and talk all the time; students sitting in lines separately to listen. This kind of classroom setting is in favour of using Grammar-Translation Method in teaching, but it is not convenient to carry out students’ practice. In order to facilitate English acquisition, students need oral practice in English classroom. Teachers must ensure that classroom interactions are managed, not just by the teacher, but by all participants. To achieve this, teachers should arrange the desks in such a way that the students can look directly at one another to help create interactions among students. 3.2.3 Teacher’s role  Instead of being the master of the class, the English teacher could act as an independent participant and facilitator in English classroom. He or she facilitates the communicative process among all learners and between students and various tasks. He or she can give guidance and advice when necessary. But this does not mean in the teaching process, the teacher should only be a passive observer. Although the teacher may be nondirective in general, it is still the teacher’s responsibility to recognize the distinctive qualities in the students (HAN, 1979) and to help students develop those qualities. Of course, to perform these roles well, English teachers in China need further guidance and training to let 32 Adapting communicative language teaching approach to China’s context ï ¿ ¼them fully understand that teaching English does not consist only of teaching grammar but that the true mastery of a language involves communicative competence, and to let them know how to use CLT in their daily teaching process successfully. 3.2.4 Classroom activities  Classroom activities such as role-play, pair work and group discussion should be largely involved in English teaching. At the same time, teachers can also use any unexpected occurrence that happens during class. I still remember when I was in secondary school, I was always attracted easily by outside sights and noises. Once in an English class, I saw a very beautiful butterfly flying outside the window. It was so beautiful that I signaled my best friend to look at it. Just at this moment, my English teacher also noticed my signal. Instead of being angry, she asked the whole class to enjoy the beautiful butterfly, and me to describe it in English. Although in China, classroom activities are usually based on textbooks; English teachers can try to create activities to provide students with speaking opportunities and motivate them. 3.2.5 Changes in English test  For a long time, English examinations in China did not have oral test and the language use section. Recently, some important English tests in China developed by the State Education Development Commission began to include the language use section. English teachers can teach to the test from now on. The section was added to measure the four English language skills used for communication and it included such elements like: role-play, reading comprehension and communicative writing. Most of my students in China told me that the English examination is more interesting than ever before and they like these changes. 4. Conclusion  English teaching in China, with its traditional setting and current situation, differs from many English speaking countries. But this does not mean that the CLT approach is not applicable in China’s context. On the other hand, English teachers can use an eclectic method according to their actual situations. Adapting the CLT approach, making full use of its advantages and reconciling it with the traditional Grammar-Teaching Method, this approach can work the most effectively in China. But adapting CLT to China’s context is a very complicated process, under the guidance of the SEDC, the representatives of the central government, it should be done step by step. Right now what English teachers in China need to do is to modernize, not westernize, English teaching.