U.S Economy Cause and Effect

Essay #2 cause and effect essay. (1084) Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Â   Ben Soloviev As America is going through economical disfunction's, Â  it is apparent that many people fear for losing their job because in such a depression it would make it impossible to be well off comfortably due to the demand of money needed for all the basic essentials especially in Orange County. Orange County happens the be one of the more expensive areas in the state and it is crucial to always have a steady income as life here is not cheap but well worth it.Many Americans are in search for work and are struggling to make a living. As the job hunting goes on, many job opportunities are overseen to due to programs such unemployment. The percentage of unemployment has sky rocketed over the past few years leaving it up to us, tax payers with job to pay for such needs. Unemployment is not fair for all, most people would say. There are a percentage of people who trul y have no other choice of surviving unless they depend on this crucial unemployment program.Although unemployment is crucial for some, it is not necessary for a portion of the people due to the simple fact that they are not trying hard enough to seek new job opportunities. Instead they a letting opportunities slide right past them every single day they are not looking for work. Many people depend on unemployment alone, because most people would prefer to get paid for doing nothing while they have the chance too. Many people take advantage of this privilege and only it do they follow.A huge downfall due to unemployment for us people with a steady income and a consistent employment is the fact that we have to pay for the unemployed. Hardworking people work to support themselves also end up paying taxes which a percentage of that goes to the unemployed. By increasing our taxes the government collects money all around. This dramatically decreases the standard of living for us citizens. Although unemployment has it's pros and is a huge opportunity for people in struggles or going through loss of unemployment.It also puts a major dependability on hard working citizens who are forced to pay high taxes which a certain percentage are collected to pay for the unemployed. Many people abuse unemployment for as long as they can and only pretend to seek work but instead just prefer to do nothing but make something which not only is unfair but also not right. Unemployment not only affects certain individuals but it also puts a decrease on the standard of living here in the United states which affects everybody around us.

Critical Listening Paper Essay

Social psychologist Amy Cuddy presents a formal demonstrative speech on body language. The general purpose of the speech was to inform. Cuddy’s attire was formal. She was dressed in black high heels, black stockings, a black skirt, a long thin black cover-up, and jewelry—a heavy necklace and hoop earrings. The speaker’s introduction definitely captured my attention. She started her speech by stating that she would offer a â€Å"free no-tech life hack† additional to a request that she made to the audience; this definitely draws the audience into what she is about to say. The speaker engages with her audience by asking them to perform a certain act, while also enticing them with a free life-hack. It sure did enhance the speaker’s credibility because she is offering some kind of valuable advice to her audience. The audience is generally older in age (late 20’s & up), there is a mix of males and females, and there seems to be a good diversity in races. Most are dressed semi-formally if not formally. The speaker definitely adapts her remarks to the audience by catering to the characteristics of their demographics ex. Relating her topic to job interviews. The speaker establishes rapport with her audience through constant eye contact, communicative conversational tone, fluency, hand/arm gestures, and personal stories. Cuddy’s speech was about body language and how we see ourselves. The speaker’s thesis statement was the following: Fake it until you become it. The main points for this speech are the following: our non-verbals govern how we think and feel about ourselves (Power-posing), our bodies change our minds (Testosterone/cortisol levels), and our bodies change our behavior and our behavior changes our outcomes. The speaker uses the topical organizational pattern to deliver her speech. It is definitely appropriate for the topic and speaking situation. Her organization makes it easier for the audience to logically interpret and understand the important points that she is trying to make. Additionally, the speaker uses language to improve the effectiveness of her speech. She is very conversational which exerts the audience to be more alert, responsive, and empathetic to her. The speaker’s speaking voice is not monotone and she definitely uses effective vocabulary in her speech as well—not too difficult, but not too plain.  Additionally, the Cuddy uses the right amount of vocal expressions. Amy Cuddy mainly used images to support her material. Her short clip and images worked extremely well in supporting her main points/argument. Besides the effective images on her slideshow, the speaker’s use of her personal experiences and stories definitely supported her points. She establishes her credibility by telling a story that ultimately establishes her educational level; Cuddy is a professor at Harvard University. Cuddy concludes her speech by reiterating her thesis statement and reinforcing the speech’s general and specific purpose. She ends her speech with a call to action. The conclusion that she makes calls the audience to 1.) try power-posing and 2.) to share the science. The speaker provides closure to show the audience that her speech was finished with her call to action and thanking the audience. The speaker’s use of non-verbal elements of delivery was outstanding. Her arm and hand gestures were appropriate, she maintained meaningful eye contact/engagement throughout her entire speech, and her overall body language to her audience was one that really entices the audience to pay attention and be engaged. The speaker used presentation aids, and in my opinion, they were extremely effective and engaging. Moreover, it is clear to see that the speaker’s presentation aids were adequate supporting material through the audience’s reactions ex. Laughter, applause. In my opinion, the strongest part of the speech was the speaker’s story about her personal experience. This was part of the body of her speech and it was her supporting evidence for one of her main points. She used emotion to appeal to her audience about her tragic accident and her journey to recovery and â€Å"faking it until you become it†. This was the strongest part of the speech because it is memorable and got a strong reaction out of the audience. Not only that, but it was great supporting material for the speaker’s thesis. On the other hand, there weren’t any weaknesses to Cuddy’s speech necessarily. If I had to choose one weak point however, it would be the transition from the body to the conclusion. This was the weakest part of the speech because it was difficult to concretely establish the concluding paragraph of the speech. I could not tell whether the ending was part of the speech’s body and the conclusion was just extremely short, or whether the conclusion of the speech was very long. A better transition into the conclusion would make the speech better. The setting of this speech was  extremely formal. The size of the room was fairly large—it appeared like a theatre. Cuddy is atop a large stage and the spotlight is on her. The room is darker where the audience is. This kind of setting impacts the speech in a way that makes the speaker the center of attention. The audience gives supportive feedback to the speaker. They laugh at all the right times, and the Cuddy responds to this feedback by really engaging with the audience through her questions and affirmations in a non-overdoing way. At the end of her speech, the members of the audience stand up from their seats while giving her a big applause. On a scale of 1-10, I would rate this speaker a 10. This is because this speaker encompassed every characteristic that an effective speaker should portray. She obviously knows what she is doing and has had sufficient practice and experience. I would definitely enjoy listening to Cuddy again because not only was her topic very interesting and enjoyable to listen to and learn about, but she was a great speaker in general. I especially liked the way that she catered her speech to her audience. In my opinion, there weren’t issues that the speaker should have addressed but did not. The speech was succinct and effective. The conclusion of the speech, however, was either too long or too short. I could not tell whether the ending was part of the body and the conclusion was just extremely short, or whether the conclusion was just very long. Works Cited Cuddy, A. (2012, October). Your body language shapes who you are. Retrieved July 30, 2014, from TED: http://www.ted.com/playlists/171/the_20_most_popular_talks_of_a

From Classical Hollywood to New Hollywood Essay

The movies Rebel Without a Cause and Bonnie and Clyde offer two prime examples of the difference between â€Å"Old Hollywood† and â€Å"New Hollywood. † Rebel Without a Cause was released in 1958 and, although it pushed the envelope for movies at that time, it still was very much a depiction of â€Å"Old Hollywood. † Bonnie and Clyde released in 1967 was one of the first films of â€Å"New Hollywood† in that its style, acting and storyline moved it into a new generation of filmmaking. In this paper I will analyze these two films and contrast their different styles and also show how Bonnie and Clyde set a new standard in the filmmaking industry. I will also look at readings from class and draw from them in order to back up my discussion. Rebel Without a Cause (Old Hollywood) â€Å"If I had one day when I didn’t have to be all confused and I didn’t have to feel that I was ashamed of everything. If I felt that I belonged someplace. You know? † (Rebel Without a Cause, 1958). This quote was from the protagonist Jim Stark who is a 17 year old whose parents just moved to Los Angeles. His parent’s fight often in front of him and his mother is very domineering toward his father and Jim doesn’t like this. He feels his dad is not man enough to stand up for himself and he sees him as being week. Even though his father loves him a lot and shows him affection, Jim wishes he was more of a man. Throughout the movie he tries to tell him that he needs to just stand up for himself and set a good example for his son, but his father doesn’t get it. He’s just too used to being bullied around by his mother. Jim even goes so far as to say that he never wants to end up like his father. This was just one of the many films during the fifties that depicted the youth of America as being insubordinate and not having the same moral makeup as past generations. This film also looks at parenting styles and how they affect the youth at that time. The main character Jim continuously gets into trouble as a result of his confusion and detachment from his parents. The style in which the film was made goes right along with what was being done in that era. The acting, at times, was very over dramatic and the dialog was sparse and very â€Å"clean†. The high school kids were rebellious and got into fights, but there is very little blood and the discourse was very civil. Up until the fifties, the movie business had grown exponentially and was dominated by about eight different studios located in Los Angeles. Small budget films were being made at the time but wouldn’t make money simply because the â€Å"Giants† had all the talent and money to produce large-scale productions. At that time it was also accepted that the larger the amount of money put into a film, the more it would make. It was published to the public amounts that were invested into the films (Maltby, 113 – 125). In the postwar period, the foreign market became an even more important source of income to Hollywood. By the early 1960’s foreign sales generated about half of the majors’ revenues†¦but instead of bringing European stars to Hollywood, American production migrated abroad (Maltby, 127). So part of â€Å"New Hollywood† was it’s presence abroad and actually filming and producing films in foreign nations. However, not many were ready for the movie that, in essence, changed how filmmaking was done. Bonnie and Clyde (New Hollywood) â€Å"This here’s Miss Bonnie Parker. I’m Clyde Barrow. We rob banks. † (Bonnie and Clyde, 1967). Directly influenced by the â€Å"French New Wave† style of cinematography, Bonnie and Clyde broke all of the rules associated with â€Å"Old Hollywood†. The film portrayed sex and violence on a graphic level not really ever seen before. And, although, the movie started out as sort of a comedy, it quickly turned dark as the violence began. Many different societal taboos were broken regarding sex and violence. This new style also included a more â€Å"real† form of filming in that it was more graphic and the filming itself was more choppy. The comedic way that it depicted violence along with its quickly shifting tone toward the dark side of violence was something new at the time. Since the production of Bonnie and Clyde many others followed suit in its overt display of sex and violence in the movies. â€Å"The impression created is one of restlessness, edginess and a palpable sense of sexual hunger and longing† (King, 12). Clyde is a thief that meets up with Bonnie while he’s trying to steal her mother’s car. She falls in love with him and they go on a bank-robbing spree together. As they get better at what they do, the level of violence is escalated and the amount of gore depicted in the film rises. Sexual overtones are constant and this entire concept of glorifying sex and violence on film was brand new at the time. During the late fifties and sixties, times were tumultuous in America and Hollywood cinema reflected that. Making connections between Hollywood movies and the times in which they appear is not as straightforward a business as it might often appear. Sometimes, however, the case seems more clear-cut; the times are such that they appear to impose themselves forcefully on our consciousness, unmistakably invading the terrain of popular entertainment such as Hollywood cinema (King, 14). Because of social events and tragedies that were taking place in that era such as the Kennedy assassinations, the assassinations of Martin Luther King Jr. and Malcolm X, people were longing for films that helped express how they were feeling. Conclusion Both movies were epic pictures that were preserved in the United States Library of Congress’s National Film Registry and even though their release dates were only twelve years apart, watching them makes you feel as if they were made in completely different eras – which, in fact, they were. Rebel Without a Cause, arguably James Dean’s best film, sort of represents the innocence of America at that time. You feel as if you are watching something that would be rated G today, or would be on the Disney Channel. Bonnie and Clyde represented the direction that America was moving in. People might not have been ready for it at the time, however, they went to the theaters in drones to see it. It was the start of a brand new era in filmmaking and stands to be one of the founders, if not the founder, of New Hollywood today. Works Cited Bonnie and Clyde: Memorable Quotes. (1967). Retrieved from http://www. imdb. com/title/tt0061418/quotes King, G. (2002). New Hollywood Cinema: An Introduction. New York: I. B. Tauris & Co Ltd. Maltby, R. (1995). Hollywood Cinema. Malden, MA: Blackwell Publishing Ltd. Rebel Without a Cause: Memorable Quotes. (1955). Retrieved fromhttp://www. imdb. com/title/tt0048545/quotes

Economic Analysis and Policy_Coursework Essay Example | Topics and Well Written Essays - 1000 words

Economic Analysis and Policy_Coursework - Essay Example In terms of agent’s utility, discretion based solutions are normally the best. On the other hand, policy options that are based on rules usually have little room for policy errors. However, such an approach requires a lot of confidence that the variables will perform as intended without any challenges. This is certainly difficult to realize for inflation targeting especially in the identification of financial stability (Langdana, 2009). Indeed, most rule-based approaches have faced many challenges especially when applied as an inflation target framework. In this respect, a discretionary framework is always appropriate in addressing the issue. It allows policy makers to learn much from the interaction between various relevant stakeholders. Nevertheless, it should be realized that the adaptability and flexibility of discretion comes with its own share of costs. There is limited predictability of the decision in addition to a tendency toward forbearance as policy makers are tempt ed to postpone backfiring decisions. In most rule-based approaches, policy reactions are normally left to some pre-defined automatic triggers and mechanisms. However, the use of rules might be difficult especially for a new policy which should be used across the world (Peston, 2010). (Question b) Indeed, the Taylor rule has greatly revolutionized the manner in which policy makers and central banks approach the issue of monetary policy. It frames policy actions in line with the various incoming information regarding economic conditions. In this case its contrasts the traditional period-by-period optimization problem. The rule has greatly brought into focus the need for adjusting policy rates more than one-for-one in responding to increased inflation. The rule is therefore used in adjusting prudent interest rates which can help in stabilizing the economy both in the short term and maintain growth in the long term. This is much opposed to inflation targeting which basically focuses on estimation of the inflation rates and attempting to fix the situation through interest rates (Barro, 2005). The attractiveness of the rule arises out of its ability to foster price stability and ensure full employment through a reduction of uncertainty. It further increases the credibility of future actions of the central bank. The rule might further avoid most inefficiency associated with time inconsistency through the use of discretionary policy. The Taylor rule indeed provided a compromise between the various competing schools of thought in a proper language often lacking in rhetorical passion. A recent application of the Taylor rule was made by the Federal Open Market Committee (FOMC) after inflation was seen to have risen by 2%. The rule provided a quantitative prescription on how the interest rates should be increased to address this change. Indeed, the Taylor rule has been important in addressing some of the challenges which conventional inflation targeting cannot reach. Howe ver, the rule also has its own challenges and is often used together with other approaches in real economic situations (Prachowny, (2011). Microeconomics (Question a) It is certainly true that firms prefer making more profits to less. Profit is certainly a very important concept in the operations of a

Macro and Microeconomics Issues Essay Example | Topics and Well Written Essays - 2500 words - 2

Macro and Microeconomics Issues - Essay Example The analysis of price and income effects based on the estimated demand system has suggested that with the increase in food price inflation, the demand for staple food (rice, wheat, and sugar) may not be affected adversely but, that of high-value food commodities is likely to be affected negatively.† The increase in the price of orange due to supply constraints would lead to increase in prices of other fruits in general. Poor people tend to spend more on bread, a staple food item in spite of price increase by reducing their consumption of other food which cost more. This phenomenon is called as ‘Giffen’s Paradox’. Giffen’s paradox is not applicable in the case of orange, as it is not a staple food in poor households. Demand for the orange cannot be considered inelastic. Silberberg and Walker(687) observe â€Å"When the price of the Giffen good changes, therefore, not only does the income term outweigh the substitution term for the Giffen good, but a similar result is produced for the cross effect on the other commodity.† Therefore, increase in the price of orange will lead to increase in the price of other fruits like grapes or apples due to the substitution effect. The increase in price or orange induces farmers to increase the area under crop for oranges which are expected to increase the production of oranges to the normal level of demand in the economy. However, when the farmers have other alternatives of producing corn or other grasses, may be at a lesser cost of production for manufacture of ethanol, the scenario with regard to supply pattern changes drastically. President George W. Bush called for the United States to reduce its gasoline consumption by 20% in the next decade. Considering the growth rates in consumption of gasoline, reduction in consumption of gasoline is very difficult. He proposed an increase in ethanol produced from corn and the stalks and leaves from corn and other grasses.

Aspects of Contract and Negligence for Business in United Kingdom Essay

Aspects of Contract and Negligence for Business in United Kingdom - Essay Example An offer is an expression of willingness to have a contract under specified sets of terms and conditions. This is made by an offeror and the focus here is that in case the offer is accepted, then the offeror is bound by the contract. In other words, an offer matches an individual’s manifestation about his or her intent to get into a binding contract with somebody else. Acceptance on the other hand refers to an expression of agreement which is unconditional and absolute. This is in regards to all terms formulated in a given offer. In this case, it refers to an assent by an offeree who is responsible for offering a legal contract (Berle 435). It can either be in writing or oral though it has to reflect on the original offer agreed upon. Capacity entails the capability of an individual to get into a legal agreement considering the fact that other people such as the insane, the drunkards and infants may not be able to enter an agreement. Intention is another element of a valid con tract and it simply entails intimating to get into an agreement. These elements play important roles as far as contracts are concerned. One of the importance of the elements is that they help in protecting an individual from potential problems for instance from overcharging or from losing deposit (Mitchell). They also ensure that one has a guarantee for complete and quality work. They also help in clarifying expectations of different parties involved into a contract as well as in knowing how possible conflicts can be resolved. Apart from these, they are important in that they enable parties to safeguard their resources. Typesof Contract Contracts are in different categories and they all have their impacts and relevance in applications. Written contracts are usually written and sealed off in official documents. One of the impacts of a written contract is that they get into operation once they have been adopted and delivered between the concerned parties. Friedman (105) notes that the y also bind all the parties involved within their terms without considering whether the terms have been read or not. There are contracts which require written evidence. These contracts have their evidences taking effect upon agreement and they help in preventing perjury and frauds. There are also sealed contracts which are usually made by a party and delivered to another party after sealing them (Wedderburn 99). These types of contracts are important in that they check on misconceptions. Finally, there are simple contracts which can be oral, partly written, fully written, oral or even implied. Their impacts are usually dependent on what is being agreed upon. Terms in a Contract Conditions in contracts mean the operating regulations between the contracting parties. One party’s performance is conditioned based on terms being operated upon. This further implies that termination remedy is present with damages or if there are no serious effects from a breach (Drew and Skitmore 228 ).Warranties are terms which are less essential and are mostly implied as collateral with regards to the key purpose. With warranties, there are no rights to termination. However, damages reflecting on actual losses are pertinent. Innominate terms are those for which there are no advance prescriptions for remedies. There is termination if effects felt upon a breach are serious and capable of depriving innocent parties of contractual benefits. TASK 2 It is possible that you hold Direct Training to the price they stated on the website. However,

Stock Investment Analysis Essay Example | Topics and Well Written Essays - 1000 words

Stock Investment Analysis - Essay Example By careful analysis of the YTD returns it can also be observed that the short term yields for both the index as well as the FLCSX is higher than the long term yields. The yield differential between the 1 year return and 10 year return for FLCSX is 11.02% whereas the same is 9.9% for S&P 500. This implies that for the same time horizon, when the YTD returns of FLCSX is compared to that of S&P 500, the yield of FLCSX is more than S&P 500 index. Thus, while the FLCSX has yielded superior returns in long-term, the rate of fall in return is lower for S&P 500 implying that the later is less volatile compared to the former. The key drivers for fund performance as identified fidelity fund research are as follows: 1. Investor expectation mainly driven by changes in earnings and yield; 2. Short term or speculative investment; 3. Accuracy of estimates over time horizon; 4. Lower fund volatility Volatility or Risk Analysis of the Fund A portfolio is group of securities such as bonds, stocks wher e an investor invests his or her money. By diversifying money into a combination of securities, the investor mitigates the risk of holding a particular asset. Diversification of investment spreads the risk over many assets. A diversified portfolio gives the assurance of obtaining the anticipate return on portfolio. The concept of simple portfolio diversification is that some securities may not perform as anticipated but other assets might exceed the expected return making the actual return of the portfolio reasonably close to anticipated return (Huang, Wei and Yan, 2007, p. 2). Investing the entire sum of money in a single stock exposes the investor to the risk of that asset. So, in case when the price of that security falls in the market due to any reason, the investor will suffer huge losses. This, risk of concentration of money in a single stock is mitigated through diversification. Some of the key parameters that add risk to ones profile are discussed as follows:- The current yi eld of S&P 500 as on April 26, 2013 is 2.03% where as the YTD of FLCSX is 5.37%. The 10 year risk free rate of US T-bill is 1.70%. From the above information, the key parameters for assessment of risk can be calculated as follows: (Source: Bloomberg, 2013) From the above table it can be said that the beta of FLCSX is less than that of index S&P 500 which also means that the fund is less sensitive compared to the market. The standard deviation (SD) is the measure for fund’s volatility and from the above it can be said that the SD of FLCSX is much lower than that of index. The SD of S&P 500 composite index is found to be 197.18 where as the SD for FLCSX is 6.97. The higher values means that the funds are more volatile and vice-versa. The Sharpe Ratio measures the historically adjusted performance calculated by dividing the funds excess return and standard deviation of funds. Higher values indicates better performance and vice-versa and in this case it can be said that Sharpe ra tio of FLCSX is higher than that of the index implying that the large cap funds of fidelity has performed better than S&P 500. The fund managers are advised to regularly examine the vital

Management Information Systems Essay Example | Topics and Well Written Essays - 4000 words

Management Information Systems - Essay Example The essay "Management Information Systems" talks about the development of a new system for the ABC Company. This company is computer hardware manufacturer that carry out product for larger scale orders. The overall management and handling of such huge orders are difficult through the manual order processing approach.This information system will be used as an information management system of the overall organizational data. This system will conduct an online transaction and store the dealing and transaction data on the company’s central database. After that this data will be used to access the overall sales analysis. We will derive monthly or periodic report for the analysis of the overall business position. This system will facilitate in managing the overall products sales and deals regarding the corporate online transactions. Here we will be able to access and retrieve the overall quality of the stock and its current level because in any online transaction the stock status is really necessary for the handling of dealing. This product and stock information will provide a great facility for stock management. Here we will assign a product code to each project and through that code, we will easily retrieve the product information for the better management of the stack. This system will be an online system. We will create an organizational management module. This module will facilitate only to organizational executives to view, manage and handle online products, stock, sales and other organizational information.

Corporate Finance Essay Example | Topics and Well Written Essays - 1750 words - 1

Corporate Finance - Essay Example TSR is defined as a measure that helps in evaluating the performance of different company’s shares and stocks over the passage of time. It takes into account appreciation of share price and payment of dividends in order to show the total shareholder’s return and is expressed as percentage. It is calculated after considering capital gain, which is accrued after purchase of company’s share. In calculating TSR, it is assumed that the dividends are reinvested in the company shares (Rexam Plc, 2014b). Through calculation of TSR, the performance of share is compared over the period of time. This is the main advantage of calculating TSR as it shows the exact position of the share even if it has high growth and low dividend or low growth and high dividend. After collecting relevant information from the annual reports of the two companies mentioned above, TSR is calculated. The information needed for the same are share price at the end and beginning of the year along with the dividend that are paid out to the shareholders. This information has helped to calculate the TSR of the companies, which are provided in the following table (Rexam Plc, 2014a): The above table reflects the change or fluctuation in the value of TSR over the 7 years. It is observed that the TSR value of Rexam Plc has increased over the years from a negative value since 2007. During the period 2007-2009, the company was unable to maintain a positive TSR mainly due to its poor performance in the industry, which occurred mainly due to the insufficient sales. However, positive TSR after 2009 indicates that the company has improved its share price performance, which is the result of increase in sales. Presently, the company has satisfied customers by offering them with good return and higher dividends, which are reinvested in company shares that are issued for them. From the above table it is evident that GSK has encountered

Critically consider whether the study of the history and development Essay

Critically consider whether the study of the history and development of accounting promotes an understanding of present accounting practices - Essay Example ibution over time, historical skills of documentation to avoid loss or fragmentation of recognition, works and references of the past investigation of incomplete work and claims. Accounting history is a better instrument from policy perspective and the considerable assessor of exiting practices with the past. (Belkaoui, 13) To understand the future required development and guiding the future decision-making; history and interrelation between accounting is always helpful. Accounting often focuses on the records of large firms but that does not mean that it neglects the small firms. Small family business accounts depict the picture of the daily life and culture with respect to historical, economical and philosophical sphere. Financial data and documents highlight the differences in gender, class and the distribution of power and control. For the last fifteen years, there is a visible increase of discussion among the researcher to study the influence of accounting history in modern and postmodern history. (Fleischman, Radcliffe and shoemaker, 5-21) In the modern age, there had been steady development in the fields of business and economy. As trade and commerce increased, the world became smaller and the boundaries between the countries became thinner which helped the concept of Company to establish. The subject of accounting also assumed great significance with the development of business. The concept of taxation became more systematic and that resulted in maintaining proper accounting practices for all types of businesses and examining their level of taxes and profit. The field of accounting has gone through a vast change from the early days. Scholars have realized that this is a vast area of study and has promptly diversified it into Management and Financial Accounting. Financial Accounting deals in examining historical records and maintaining the fact file of the company. Both the external and internal parties in the business use the record generated by