Impact Of The Asian Financial Crisis Of 1997 On The Region...

Examine the impact of the Asian Financial Crisis of 1997 on the region’s development â€Å"Since World war II, development has been the most important term used to describe economic, social and political changes in what have come to be known as Third world countries† (Zhang, 2003). The Asian financial crisis of 1997 had a major impact on the regions development as it was the end of the East Asian economic miracle, a time that showed staggering economic growth throughout the Asia Pacific. However, despite evidence that the economic development has slowed down within the region, it can be argued that the 1997 crisis encouraged intra-regional co-operation and collaboration, developing intra-regional trade and encouraged the creation of ASEAN†¦show more content†¦Garran (1998) argues that most countries affected failed to set up acceptable regulations and supervision that would have allowed capital markets to develop without risky imbalances. He states that countries â€Å"over-borrowed, over-invested and over-reached themselves†. Although it can be argued that the entire region felt the effects of the crisis, some countries suffered more than others. According to Barro (2001) the countries mainly affected include Indonesia, South Korea, Malaysia, the Philippines, and Thailand, this is because between July 1997 to early 1998 these countries experienced currency depreciations of more than 50%. In these countries, offshore nominal interest rates reached at least 25% at some point between June 1997 and January 1998. Real per capita GDP fell by 16% in Indonesia, 12% in Thailand, 10% in Malaysia, and 8% in South Korea, and 3% in the Philippines. He argues that China, Hong Kong, Japan, Singapore and Taiwan were much less affected by the crisis as they experienced depreciations of less than 25%, and nominal interest rates remained below 20%. The crisis resulted in the set back of over 30 years of strong economic and social development in the region, the loss of jobs caused riots, destruction and even death from poverty in the affected countries. Henderson (2011)Show MoreRelatedThe Philippines Amidst the Asian Financial Crisis and the Global Financial Crisis3267 Words   |  14 PagesThe Philippines amidst the Asian Financial Crisis And the Global financial Crisis I. Introduction Since before, there had been many financial crisis happened, for instance the Great depression of the 1930’s, the U.S recession of 2001 and other financial crisis. All of the country in the world has felt how severely devastating a financial crisis is, on how much problem does it give to an economy, even though the most powerful economies that produce about a quarter of the world output like the AmericaRead More1997 Asian Financial Crisis4297 Words   |  18 Pages1997 Asian Financial Crisis Angelica M. Montefalcon 4FM2 I. 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For example, in the short run, bank may sell off their securities

The Character of Don John in Much Ado About Nothing Essay

In the play ‘Much ado about nothing’, Don John is a puppet whose strings are pulled by various characters and the society in which he lives. Although he does monkey businesses like every character in the play, he is the one who gets harshly judged and punished for it. His villainy is not an innate trait but rather, he chooses it to distinguish him from others. Don John is the illegitimate half brother of Don Pedro in the play. Don Pedro is the Prince of Aragon and is highly respected throughout the play, whereas Don John is treated with cautious attention and indifference. In Act one scene three, Leonato greets Don Pedro rather enthusiastically and respectfully, â€Å"Never came trouble in the likeness of your grace; for trouble†¦show more content†¦He even says that he prefers being hated rather than people feigning their emotions, because of his illegitimate blood, â€Å"It better fits my blood to be disdained of all than to fashion a carriage to rob love fr om any†(1.3.22-23). He labels himself a â€Å"plain-dealing villain† (1.3.25), which suggests his identification within the play, as he is a bastard born. His birth status automatically makes him untrustworthy, â€Å"I am trusted with a muzzle, and enfranchised with a clog. Therefore I have decreed not to sing in my cage. If I had my mouth I would bite†(1.3.2-28), and a villain without meaning to, so he’s content with calling himself a rogue. Don John completely trusts his confidants, Borachio and Conrad, as they are the only ones who seem to have faith in him. In the beginning, when Don John asks them â€Å"You are both sure and will assist me?† Conrad replies â€Å" To the death, my lord† (1.3.54-55). That line pretty much seals the deal and Don John makes them his confidantes. This is also because the rest of the society doesn’t trust him because of his illegitimacy and self-proclamation of being a villain. When Borachio comes with the news of an approaching marriage, Don John plans to create mischief for the wedding. But after he comes to know that Claudio is the one getting married, he shows off his animosity towards Claudio and hopes he can spoil the wedding, â€Å"Come, come let us thither. This may proveShow MoreRelated Much Ado About Nothing Essay: The Character of Don John1112 Words   |  5 PagesThe Character of Don John in Much Ado About Nothing  Ã‚     Ã‚   William Shakespeares Much Ado About Nothing is a comedy in which he uses one of his more peculiar villains. The antagonist in this play is Don John, the bastard brother of Don Pedro. In this paper I will discuss the role of Don John as well as his motives and the character himself. I will also delve into Shakespeares use of Don John as the antagonist. I will be comparing Don John to other characters in the play as well as to otherRead MoreThe Character of Don John in William Shakespeares Much Ado About Nothing827 Words   |  4 PagesThe Character of Don John in William Shakespeares Much Ado About Nothing The Shakespeare play Much Ado About Nothing is a romantic comedy set in Messina, Italy. In this play there is a thin line between it being a comedy and a tragedy, the only thing that stops this play being a tragedy is the happy ending and the fact that no one really dies. Throughout the play there are a series of upsets within the relationships between characters. Don John, who is the illegitimate Read MoreAnalyzing the Character of Don John in William Shakespeares Much Ado About Nothing989 Words   |  4 PagesAnalyzing the Character of Don John in William Shakespeares Much Ado About Nothing The play Much Ado About Nothing was written and performed in the Elizabethan period. It was set in Italy in a place called Messina. As expected the play has an happy ending with a marriage, as it is an comedy, except throughout the play you think it may end as an tragedy with lots of talk of death and misery. The mood swings from light comedy to dark tragedy. The play appealed toRead MoreEssay about Much Ado About Nothing: A Comedy with Deep Meaning1270 Words   |  6 PagesMuch Ado About Nothing:   A Comedy with Deep Meaning  Ã‚  Ã‚      Much Ado About Nothing--the title sounds, to a modern ear, offhand and self-effacing; we might expect the play that follows such a beginning to be a marvelous piece of fluff and not much more. However, the play and the title itself are weightier than they initially seem. Shakespeare used two other such titles--Twelfth Night, or What You Will and As You Like It--both of which send unexpected reverberations of meaning throughout theirRead MoreEssay on Gossip and Deceit in Much Ado About Nothing1494 Words   |  6 PagesGossip and Deceit in Much Ado About Nothing Much Ado About Nothing is primarily a play about gossip. Indeed, the title means a big fuss about a trifle, and by the end, this is exactly what happens. All accusations will come to nothing, causing the play to end the same way as if they never occurred at all. Shakespeare brilliantly plays on the meanings of nothing throughout this play. The word nothing would actually have been pronounced noting in his time. It can mean worthless, a person ofRead More Borachio in William Shakespeares Much Ado about Nothing Essay999 Words   |  4 PagesMinor characters, by simple definition, are characters who do not play a major role in a work of literature. However, every character serves a purpose. Simply because a character does not have many lines or appear in many scenes does not mean that he does not play a major part in the development of the plot. One such character is Borachio in William Shakespeares Much Ado about Nothing. While Borachio appears in only six scenes, he is very importa nt to the entire play. As a minor character, BorachioRead MoreAn Understanding Evil in Shakespeare ´s Much Ado About Nothing753 Words   |  4 Pagesof a characters public appearance in the eyes of spectatorship and observation, and the problems that result from misunderstandings. Although it is dark at times, Much Ado About Nothing is a comedy that exemplifies this theme. As spectatorship is an action characters engage in, it becomes a challenge to keep up with the motives and truthful appearances of identities throughout the play. Due to Claudio’s ability to be easily manipulated, his motives behind rejecting Hero are masked by Don John’sRead MoreA dramatic comedy villain should resemble someone of a horrid disposition whose main goal in life1300 Words   |  6 Pagesfeel’ . Don John as the most passive villain in Much Ado seems to settle directly upon this line. The man of few words emerges as the most disagreeable and wicked character in the play. Yet Shakespeare assigns Don John the redeeming quality of his honesty and ensures that he receives a lot of sympathy from the audience through Don John’s description of himself announcing his ultimate punishment by a hypocritical society which rejects him from the very moment of birth. This is due to Don John’s honestRead MoreWilliam Shakespeare s Much Ado About Nothing1204 Words   |  5 Pagesconsidering the role of the villain in Much Ado About Nothing, and will conduct rhetorical analyses that will proceed to view the perspective of the villain and his or her intention s. Much Ado About Nothing written by William Shakespeare intending this play to be a comedy. Although it is hard to comprehend the comedy within the play. The characters within this play are all linked together by having a relationship that looks like a telephone wire game. The characters dilemma develops an emotional stateRead MoreThe Reflection of Emotions964 Words   |  4 PagesCharacters within Shakespeare’s, Much Ado About Nothing display love in a complementary manner to the love written in Sonnet 116. Although arduous situations occur, these individuals are loyal to their love interests. They consistently illustrate their feelings and this factor allows the characters to flourish. This especially true of Benedick, Hero and Don Pedro in Much Ado About Nothing. As they are victimized by Don John throughout the play, their relationships are strained. However, once

Monarchy/Episcopalianism Government Free Essays

The advantages of a Monarchy government are it only has one ruler. The government and the state are in high power and in a single person’s hands. These states are called a kingdom or empire. We will write a custom essay sample on Monarchy/Episcopalianism Government or any similar topic only for you Order Now Another advantage is the power of the king or supreme magistrate has limitations by the constitution. It also gives less control to the ruler then despotism but also makes the population happier and more productive. The advantage of an Episcopalianism government is unity of structure, style and doctrine within church government. The disadvantage of a Monarchy is that you have more control over the people in your empire. Therefore, the production capabilities within the cities will be very limited. The disadvantage of Episcopalianism government is authority is given to an office not a person. (Acts 6:36), (Acts 14:23). Republicanism/ Presbyterianism Government The advantages of a Republicanism government are citizens can participate in government and give there opinions. There is no dictatorship; citizens can elect representatives to office. The advantages of a Presbyterianism government it is an ideal system for the maintaining of proper church discipline. It is also based on scripture principles; it is the nearest teachings of the Holy Scriptures on church government. â€Å"Christ is the great head of the church universal. † â€Å"All church government must be subject to him alone† (Ephesians 5:23; Colossians 1:18) â€Å"The people have a right to substantive of government of the church†. â€Å"But all things must be done decently and in order†. (1 Corinthians 14:40; Acts 14:23) (Romans 3:1; 1 Timothy 6:3-5) (Galatians 4:21) The disadvantages of a Republicanism government are you cannot maintain martial law in a city under this government. The bad thing about trading is you cannot have prosperity in your empire because the senate approves everything you do. The disadvantage of a Presbyterianism government is it has not totally removed all of the abuse and errors in the churches that have adopted it. It greatly reduces much time and effort in the decision-making, politics, and parties’ attitude. Has little or no accountability to the larger community of believers. Democracy/Congregationalism Government The advantages of a Democracy government are everyone has a voice in the decision-making. Citizens have the same rights and freedoms and all citizens are equal before the law. They also have equal power; it also safeguards the interest of the people. It is known for stability, firmness and efficiency. The advantages of a Congregationalism government are the church appears to be independent in the New Testament, it also recognizes the importance of individual believers. It also accepts the bible as a sufficient rule in matters of faith and practice. The disadvantages of Democracy is it citizens because it does not establish dictatorship of majority. It ignores the minority and the minorities are oppressed if no party gets absolute majority coalition governments are formed.  (Romans 13:1) (Peter 2:13-14) The disadvantages of a congregationalism government are there are too many people foster independent spirits and opinions. It forms easy church splits and can lead to lack of history or past. There is too much authority given to an office competitiveness and lack of unity. (Matthew 18:18-20) In conclusion, I believe all of the forms of government can be of good nature where the government is concerned. It is also elements of all three forms of church governments in the New Testament. They all intertwine as co-existing in the government in many forms and fashions and bring a balance to our government as a whole. How to cite Monarchy/Episcopalianism Government, Papers

Recognition in the Market for Qualityâ€Free Samples for Students

Question: Discuss About the Recognition in the Market for Quality? Answer: Introduction The company Cravings for Cakes Pty ltd. has recognition in the market for the quality manufacturing of cakes and pastries that delights the taste buds of the customers. Initially, which marks to be a period that is twenty years ago, the company just has the capability of offering only three ranges of the products which were pies, finger buns and lamingtons. Large volumes of these product lines were being produced with immense hard work. Twenty years ago, the company was not technological advanced and therefore, focused more on being labor intensive and adopted the usage of simple machineries that were not technologically advanced. However, talking about the current scenario, along with the production of the pies, finger buns and lamingtons, the company has excelled in the manufacturing of the food products such as Danish pastries, donuts and vanilla slices. Over the past twenty years, the company had undergone various changes in terms of accounting, management, production process and technology. There is an increased emphasis on the quality and delivery performance. This is the reason that the company now witnesses technological advancements in the term of installing of computer-controlled mixing machines and ovens that has shifted the focus of the company from being labor intensive to capital intensive. However, the company faces certain issues as the profits are being declining, over the years. There is a sudden need for the company to enhance the sales volume, in particular for those products that ensures high marginality Over the last twenty years, the company has witnessed changes in various aspects related to the cost structure, accounting, management, production processes and technology. The cost structure of the company has changed majorly as the company has shifted its focus from being labor intensive to capital intensive. The cost structure of a company refers to the part of fixed as well as variable costs that occurs during the operations of a business (University of California, 2016). It comprises of fixed cost as well as variable costs. Fixed cost refers to those cost that shall be generated irrespective of the sales volume and profit margins. On the other hand, the variable cost is the one that differs or varies on the basis of the level of the output produced. For the company Craving for Cakes Pty Ltd. the costing structure constitutes of fixed and variable costs. The fixed cost of the company constitutes of the rent as well as the salary of the employees on monthly basis. No matter what t he output level of the company is, the company has to incur these cost for the continuity of the business(Grayson, 2017). Talking about the variable cost, there are certain cost that constitutes to be the one which includes the cost for direct material, overheads, period cost, sunk cost, transaction cost and direct labor. The variable cost of the company Cravings for Cakes depends upon the level of output that is being produced. For the production purpose the variable cost is related to the ingredients (sugar, wheat, spices, wheat, eggs, flavors, salt), supplies and packaging materials which includes packing paper, ribbons, containers, tape etc., transaction cost that is incurred while procuring the raw materials and also when the final delivery has to be made to the customers (Keythman, 2017). The reasons for the change in the cost structure of the company Cravings for Cakes Pty ltd. were: Growing Automation: The growth of automation in the past few years have been a major reason in the change of the cost structure. This is so because the control systems for the sake of managing the machineries and production related equipments have been upgraded and have become advanced to such an extent that now the company has shifted its focus from labor intensive to become capital intensive(Autogrow, 2017). Earlier, the company was labor intensive and was not involved in heavy usage of the machineries. but, with the change in time, and growth in the automation, the company installed computer-controlled mixing machines as well as the ovens that replaced a lot of direct labor operations. With the installation of new and upgraded technological devices the company witnessed a change in the cost structure. Greater Product Diversity: With the increase in the product lines of a company, the cost structure of a company changes. Same is the case with the company Cravings for Cakes, as twenty years ago, the company was only involved in the production of three food products which were pies, finger buns and lamingtons. These products were being produced at large volumes. But gradually after years, the company has added more products in its range which are Danish cookies, donuts and vanilla slices. As the product line increases, the need for raw material such as ingredients, packing materials, electricity etc. also increases, which contributes in the change of the cost structure (Sschoute, 2011). Investment in Downstream Activities: downstream activities refers to the activities that the company is engaged in after the production of the final desired product. The aim is to assist the sales of the product produced. In order to stimulate and increase the sales volume, the Company Cravings for Cakes, invested in the downstream activities. For designing such activities, the sale steam was welcomed to give their viewpoints as they have an idea about the demand and preferences of the customers. The company is now focusing on enhancing its performance and quality and desires to offer value in return of the money of the customers. The company has engaged its resources in promotional activities in order to get an estimate that whether the customers are ready to pay higher prices for their products or not and about the taste and preference of the customers that shall result in increased sales in the future. hence, the cost incurred for promotional and downstream activities has changed the cost structure (Thompson, 2017). The Company Cravings for Cakes produces a large volume of Lamington and Danish pastries. Whether the current costing system understates or overstates the cost of Lamington and Danish pastries can be ascertained through the following factors: Cost Assignment: The cost is being assigned to each product through the way of direct and indirect cost. These direct and indirect cost includes various other costs such as cost of ingredients, depreciation or repairing of the equipment used for production, electricity, and direct labor cost. The cost per unit of each of the food product can be calculated by adding the material used, the direct cost of labor and the overhead expenses. Overhead expenses are not direct expenses but are incurred in the process of carrying out the production. It depends on the demand of the particular product (BusinessDictionary, 2017). Comparison of Overheads: Overhead expenses includes the cost that is incurred while doing the business. It refers to the expenses that are categorized as non-labor expenses (Amelia, 2015). In comparison to the Danish pastries, the overhead expenses of the food product Lamington are higher under present costing system. Distribution of Overhead: The overhead rate consists of two types which are plant wide overhead rate and departmental overhead rate. The plant wide overhead rates are preferred mostly by the small sized organizations as it enables the company to apportion the overhead product cost for manufacturing. It is calculated by dividing the manufacturing overhead expenses with the cost driver level (Averkamp, 2017). On the other hand, departmental overhead rate is preferred when the company is engaged in the various product lines, as it is depended on the direct as well the indirect overhead costs of the department. It is calculated by dividing the departmental manufacturing overhead with the departmental cost of driver (AccountingTools, 2017). The company is using traditional costing system. In this costing system, total cost of production is calculated based on the volume of production of different products. This system does not consider the actual amount of resources that are being used for manufacturing any product. The system allocates resources equally to all types of products irrespective of difference in manufacturing process. Lamington: Based on current costing system used by company, overhead cost of Lamington is greater as it is produced in large quantities. It can be said that company is overstating cost of Lamington. This is because current costing system fails to consider saving in machine setup and material handling cost owing to large volume. Danish Pastry: The company is understating the cost of Danish Pastry. This is because traditional costing system used by company does not take into consideration cost incurred due to complex procedure and large machineries setup cost needed for production of Danish Pastry. Activity based accounting refers to a framework that enables the organization to allocate the different activities as well as assign the production cost that is related with the activities. This type of accounting also enables to allocate the resources which are required for the production of the products and services depending up on the definite utilization (Investopedia, 2017). There are certain ways through which the activity based accounting is able to overcome the deficiencies of the existing costing systems, which are as follows: Accurate Product Cost: the activity based costing emphasizes on the cause and effect relationship and hence, enables the organization to have an accurate and reliable result regarding the cost of its product. When compared with the existing costing systems, the ABC system ensures the organization that the increased number of activities, increases the cost. In the case of the company Cravings for Cakes, the existing accounting system is overstating the product Lamington and is understating Danish pastries. In such case, the adoption of the ABC system shall help in knowing the accurate cost for each product. Information About Cost Behavior: the ABC system helps in identifying the area of increasing costs and helps in reduction of the costs which results in no product value addition. The managers involved in the ABC system has the skills and authority to manage the overhead cost by limiting the fixed overhead costs. For the company, the ABC system will help in creating a balance with the overhead costs of the products being produced, especially the Lamington and Danish pastries of which the overhead cost of is overstating and understating. Optimum Utilization: the ABC system ensures the optimum utilization of resources. For the company, the ABC system is beneficial as it will ensure maximum output with the use of minimum output and that too with a decreased cost. The system allocated the required resources and identifies the action plan activities that reduces ambiguity and ensures a reduction in prices as well (Agarwal, 2017). The factors influencing the choice of Activity Based Costing are (Maelah Ibrahim, 2007): Overheads: overheads refer to the indirect expenses incurred while doing the business. The ABC system must be adopted when the overheads are higher as well as the company or organization is involved in offering various product lines. Business Type: If the company is involved in the business of making customized products for the customers, then the ABC system shall not be effective as the business process is simple and the simple job costing can be used. Cost Drivers: Cost Drivers refers to the factors that drives the fixed and variable costs for a production process. These cost drivers increase with the increase in the number of activities involved in the production process. If the number of production activities is low, then ABC system is not favorable, as simple accounting methods shall serve the purpose (Nelson, 2017). References AccountingTools. (2017). Departmental Overhead Rate . Retrieved from https://www.accountingtools.com/departmental-overhead-rate Agarwal, R. (2017). Advantages and Demerits of Activity Based Costing (ABC). Retrieved from Yourarticlelibrary.com: https://www.yourarticlelibrary.com/accounting/costing/advantages-and-demerits-of-activity-based-costing-abc/52617/ Amelia, S. (2015, February 6). 6 Easy Steps to Determine Your Baking Overhead Costs. Retrieved from Bakecalc.com: https://www.bakecalc.com/blog/6-easy-steps-to-determine-your-baking-overhead-costs/ Autogrow. (2017). Intelligent Automation . Retrieved from https://www.autogrow.com/ Averkamp, H. (2017). AC. Retrieved from https://www.accountingcoach.com: https://www.accountingcoach.com/blog/what-is-a-plant-wide-overhead-rate BusinessDictionary. (2017). Cost assignment . Retrieved from https://www.businessdictionary.com: https://www.businessdictionary.com/definition/cost-assignment.html Grayson, L. (2017). What Impact Does a Fixed Cost Have on a Company's Operating Leverage? Retrieved from Smallbusiness.chron.com: https://smallbusiness.chron.com/impact-fixed-cost-companys-operating-leverage-36124.html Investopedia. (2017). Activity-Based Costing - ABC . Retrieved from https://www.investopedia.com/terms/a/abc.asp Keythman, B. (2017). List of Variable Costs for a Bakery. Retrieved from Yourbusiness.azcentral.com: https://yourbusiness.azcentral.com/list-variable-costs-bakery-24210.html Maelah, R., Ibrahim, D. N. (2007). Factors Influencing The Activity Based Costing (ABC) Adoption In Manufacturing Industry. Investment Management and Financial Innovations. Nelson, S. L. (2017). Should You Use Activity-Based Costing In A Small Business? Retrieved from Dummies.com: https://www.dummies.com/business/accounting/should-you-use-activity-based-costing-in-a-small-business/ Sschoute, M. (2011). The relationship between product diversity, usage of advanced manufacturing technologies and activity-based costing adoption. The British Accounting Review, 120-134. Thompson, S. (2017). Upstream and Downstream Activities for a Marketing Director. Retrieved from Chron: https://smallbusiness.chron.com/upstream-downstream-activities-marketing-director-74470.html University of California. (2016). Cost Structure. Retrieved from https://gsvc.org/wp-content/uploads/2016/10/Cost-Structure_Business-Model-Generation.pdf