Internal Controls

Introduction Chorafas (2001) notes â€Å"Internal Control is a dynamic system covering all types of risk, addressing fraud, assuring transparency, and making possible reliable financial reporting. Beyond risks, internal control goals are the preservation of assets, account reconciliation, and compliance.†Advertising We will write a custom essay sample on Internal Controls specifically for you for only $16.05 $11/page Learn More Limitations of ABC Co.’s Internal Control System The internal control system is designed to identify and avert fraud, material misstatements and errors and omissions. However it can only offer reasonable guarantee that there isn’t material misstatement in the financial statements. No internal control system, however elaborate, can be by itself guarantee efficient administration and completeness and accuracy of the records nor can it be proof against fraudulent collusion, especially on the part of those holding positions of authority and trust. This is mainly due to the following inherent limitations of an internal control system: (a) Management has to ensure that the benefits expected from an internal control system outweigh the costs. As a result certain important controls might not be put in place due to the costs involved. E.g. a small entity might not have the resources to employ sufficient staff to ensure proper segregation of duties. (Spencer Pickett, 2010). (b) Most internal controls tend to be directed towards routine transactions rather than non-routine transactions. This leaves gaps that can be exploited. (c) Human error due to carelessness, distraction, mistakes of judgment and misunderstanding instructions could undermine the internal control system. 2 examples of Internal Control Procedures and their implementation â€Å"Control procedures† means those policies and procedures (in addition to the control environment) which management has established to achieve the ent ity’s specific objectives. Specific internal control procedures include:Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Arithmetical and accounting control These are procedures within the accounting function, which check that transactions are authorized, correctly and accurately recorded. This is aimed at ensuring completeness and accuracy of the accounting records. These procedures can be implemented through the following ways: (Godwin 2010) Use of standardized documentation, raised at every stage of the transaction. Use of pre-numbered documents. Documents should be issued in sequence. Monitor movement of documents by use of a register. Production of exceptional reports for example when a local purchase order has been raised and the order has not been fulfilled by the supplier. Reconciliation between the different accounts and related control accounts. Segregation of duties This refers to the separation of the various duties and responsibilities such that one person cannot process and record complete transactions from beginning to the end without being checked by another person. For example, in the purchase of a company’s fixed assets, a single individual should not authorize the purchase, place the order, receive the asset and record the transaction in the accounting records. This is aimed at minimizing the risk of error and/or intentional manipulation of information. In this regard, for every transaction the following functions should be performed by different individuals and departments as much as possible and practicable. This is how this procedure is implemented: Initiation Authorization – different levels of management should be given authority limits as to what they can authorize or commit the company’s resources. The authority limit should depend on the position, integrity, qualifications and competence. Execution – tra nsactions should be carried out by persons independent from those who authorize the transactions. If one person authorizes expenditure a different person should execute. Custody of the asset – officials authorizing/executing a transaction should not have custody to the assets arising out of the transaction. Recording Segregation of duties also covers internal check which refers to the activities of one person must be complementary to the activities of another or subjected to independent checking. Symptoms of a lack of Internal Control Signs that an internal control system may be lacking include (but are not limited to) such factors as: management failing to exercise appropriate due care and correct supervision of staff. â€Å"These symptoms can be identified by missing documentation and identified errors in the account balances; and the lack of a company-wide ethics policy.† (Herrera 2010). Another sign that indicates a lack of internal control is that lack of segrega tion of duties is evident. This consequently implies that members of staff have access to tasks (and are performing them) and this is causing contradictions in the regular allotted duties. Impact of ABC Co.’s missing journal entry on their financial statements If the company has to pay insurance of $1500 in January, for example, but in real sense it is for the 3 months that follow, it becomes an expense because of the journal entry that is missing. These errors of omission usually result in erroneous ratio analyses which consequently cause management to make unsuitable decisions based on financial information that contains inaccuracies.Advertising We will write a custom essay sample on Internal Controls specifically for you for only $16.05 $11/page Learn More Horngren et al (1999) notes that â€Å"†¦the balance sheet shows less than accurate current assets and the income statement shows that there are more expenses incurred than there actua lly are. Adjusting entry will be required, but the statements during the last three months were deficient† References Chorafas, D.N. (2001). Implementing and auditing the internal control system. New York, NY: Palgrave Macmillan. Godwin, N., et al. (2010). Financial ACCT. Stamford, CT: Cengage. Spencer, H., Pickett, J. M. (2010). The Internal Audit Handbook. New York, NY: John Wiley and Sons. This essay on Internal Controls was written and submitted by user Fletcher Simmons to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Importance of the Ordeal in the Heros Journey

The Importance of the Ordeal in the Heros Journey The Ordeal is the critical moment in every story, a major source of magic in heroic myth, according to Christopher Vogler, author of The Writers Journey: Mythic Structure. The hero stands in the deepest chamber of the inmost cave and faces a direct confrontation with his greatest fear. No matter what the hero came for, it’s Death that now stares back at her. She is brought to the brink of death in a battle with a hostile force. The hero of every story is an initiate being introduced to the mysteries of life and death, Vogler writes. She must appear to die so she can be reborn, transformed. The ordeal is a major crisis in the story, but its not the climax, which happens closer to the end. The ordeal is usually the central event, the main event of the second act. A crisis, according to Webster’s, is when hostile forces are in the tensest state of opposition. The hero’s crisis, as frightening as it is, is the only way to victory, according to Vogler. Witnesses are an important part of the crisis. Someone close to the hero witnesses the hero’s apparent death and the reader experiences it through their point of view. Witnesses feel the pain of death, and when they realize the hero still lives, their grief, as well as the reader’s, suddenly, explosively, turns to joy, Vogler states. Readers Love to See Heroes Cheat Death Vogler writes that in any story, the writer is trying to lift the reader, raise their awareness, heighten their emotions. Good structure works as a pump on the reader’s emotions as the hero’s fortunes are raised and lowered. Emotions depressed by the presence of death can rebound in an instant to a higher state than before. Just as on a roller coaster, you’re hurled around until you think you might die, Vogler writes, and you get off elated that you’ve survived. Every story needs a hint of this experience or it’s missing its heart. The crisis, a halfway point, is a divide in the hero’s journey: the top of the mountain, the heart of the forest, the depth of the ocean, the most secret place in his soul. Everything in the trip has to lead up to this point, and everything after is about going home. There may be greater adventures to come, the most exciting even, but every journey has a center, a bottom or a peak somewhere near the middle. Nothing will ever be the same after the crisis. The most common ordeal is some sort of battle or confrontation with the opposing force, which usually represents the hero’s own shadow, according to Vogler. No matter how alien the villain’s values, in some way they are the dark reflection of the hero’s own desires, magnified and distorted, her greatest fears come to life. The unrecognized or rejected parts are acknowledged and made conscious despite all their struggles to remain in darkness. Death of the Ego The ordeal in myth signifies the death of the ego. The hero has soared above death and now sees the connectedness of all things. The hero has risked his life for the sake of the larger collective. The Wicked Witch is enraged that Dorothy and her friends have penetrated the inmost cave. She threatens each of them with death. She lights Scarecrow on fire. We feel the horror of his imminent death. Dorothy grabs a bucket of water to save him and ends up melting the witch. We watch her agonizing death instead. After a moment of being stunned, everyone is related, even the witch’s minions. This article is part of our series on the heros journey, starting with The Heros Journey Introduction and The Archetypes of the Heros Journey.

Foreign Policy of United States Essay Example | Topics and Well Written Essays - 1500 words

Foreign Policy of United States - Essay Example During this time, among other things was the settling of the West and the Indian Wars. The United States signed the Treaty of Guadalupe de Hidalgo in 1848 which gave the Southwestern lands to the United States. This began the migration west and the Indian Wars began. This time was marked by much sadness and death. Most of the western lands belonged to different Indian tribes. All of those tribes depended on their hunting grounds to survive. There was much to lose in the loss of their lands. Life would disappear as they knew it. As the white man continued to move into the area, with them came buffalo hunters and white ranchers. These people killed buffalo by the millions just to get their pelts and trampled the land. The people began to starve and there was no way to feed the women and children of the tribes. The government established treaties with most of the tribes giving them rations of food and clothing to allow pioneers to pass through their lands. Most of these pioneers came with the thoughts that the only good Indian is a dead Indian. The Indians land was taken from them and they continued to be forced onto to reservations that were on land that was mostly worthless. They could not hunt and the land would not support stock or farming. Even those that fought back like Sitting Bull and Red Cloud were eventually defeated. The Trail of Tears which was the removal of five Tribes from Southeast Oklahoma Cherokees were marched to a reservation. The march killed most of the old people and many of the women and children. It was a loss that the Cherokee and most of the white people of today will never let be forgotten but was only one example of the many cruelties that these People withstood. The Battle at Wounded Knee is another. In this case essentially a whole tribe was shot dead in camp. It is hard to see it as a Battle, as it seems it was pretty one sided. 1914-1919 Woodrow Wilson who was known as the President of the people was President at this time. He was the idealistic President and up until the time we entered World War I, the country was isolationist in values. Wilson changed many things in this country during that time. He believed that government should be for the common people and during his first term he helped farmers with the Federal Farm Loan Act and the Warehouse Act. The Farm Loan Act allowed low interest loans available to farmers and the Warehouse Act authorized them to have security loans on staple crops. Social welfare programs were started. Workman's compensation began to protect workers and the Child Labor Act began. The Child Labor Act only allowed products produced by children 14 or older to be sold. He followed that with the Adamson Act which only allowed children to work an 8 hour day. The Underwood Act established the first income tax and that was felled by the Federal Reserve Act. All of these things happened because of Wilson's idealist attitude (Ferrell, 2001). Unfortunately the idealistic attitude that helped the country so much also led to it entering World War I. Some say that Wilson had it in mind from the very beginning to enter the war and others say it was because of his pride (Hoover, 2009). We will probably never know the answer to that. Whatever

Formal Reports Assignment Example | Topics and Well Written Essays - 1250 words

Formal Reports - Assignment Example Encl. Report on Impact of RFID technology 2012 Annual Report Prepared by Ron Moser RFID strategy leader Report Distributed July 19, 2013 Prepared for The Board of Directors Wal-Mart Abstract RFID technology has so far been advantageous for the company in relation to inventory management and supply chain management. Since implementation of this technology required high investment, therefore in initial years the returns were below expectations, but in long run it can prove to be profitable because through improved inventory management it can enhance sales thus leading to higher revenues for the company. RFID can ensure that goods are always available on the shelves thus catering to customers becomes easy and customer satisfaction which has always been the motto of Wal-Mart becomes ensured. Also, inventory visibility is another advantage of RFID which keeps tracks of the whereabouts of items whether in backroom or shelves. This requires less use of manual orders and workers can devote m ore time to customers. RFID has also reduced inaccuracy in inventory record. TABLE OF CONTENTS Abstract †¦..................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 3 Introduction †¦..................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. ... .................................8 Impact on sales values ..................................................................................9 Impact on the profit structure ......................................................................10 Conclusion and recommendations †¦........†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦11 References ...............................................................................................................12 Introduction The main area of Wal-Mart that is benefitted by RFID is the improvement of supply chain management. RFID can be extremely beneficial for retailers and production aspect of the supply chain. RFID is an electronic substitue of barcodes. In combination with mobile computing and online technologies, RFID can help the company to efficiently manage and upkeep its stocks. This technology can eliminate manual labour for identification of products and their storage. I t helps the company to manage its stocks and assets from anywhere in the world and helps management to make appropriate decisions (Bhatta, 1-2). The reason of this paper is to see the benefits of RFID on Wal-Mart, to see how its product functions have changed for the better after implementation of this technology. RFID helps in keeping accurate track of stocks thus leading to positive replacement of stocks, and can bring improvement in gross margins and unit volumes. Impact of RFID technology Principle advantages of RFID technology It was in 2005 that Wal-Mart implemented RFID for the first time in its supply chain in order to improve efficiency, reduce costs, and enhance satisfaction level of consumers (Chen, 13). These are the standard goals for which RFID is used in supply chain management industry. There are numerous benefits of RFID. It has

International Law In Business Dispute Essay Example for Free

International Law In Business Dispute Essay With the diversity in the exchange of business portfolio continues to grow, a rational legal device should help to solve the various conflicts that arise in various international business conflicts developing from such business transactions. The international business and trade are basic pillars for the growth and economic sovereignty of the global states. The compliment of comparative and absolute advantages will constantly remain upraised. Hence therefore, the global states will remain morally upright in exchanging commercial activities and products from one state to another.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Like any other activity operating within social dimensions, business activities are partied with various conflicts. However, with the rationality ascribed to the conflict theory working within social structures, the same is critical in providing standards of social changes and revolutions. Perhaps, without conflicts within business structures, the same cannot strike a step ahead in horror of growth and development. However, the same business conflict is impartial in preventing adequacy of cohesion in international business standards. With the counterfeit results of international business conflict, a rational analyst would be indifferent of the role played by the international business in the same. Therefore, one would perhaps ask, does international law provide an environment for settling business disputes? If yes, what are codes of its dimensions? However, the logics to this thesis statement would call for sublime academic research for a scholar who would not compromise the authenticity and valid support of a research work.[1]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The international businesses and trade operates within the international environment, business structures, parties into business contracts and legal and priority requirement into international business contracts. With the diversity into the activities found beyond the national business borders, then the foundations of these transactions is ratified by the activity of persons founded on diversity in racial backgrounds, ethnicity, domestic constitutions and commercial laws, above other fundamental human basics.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, these differences should be brought together in a common understanding in the person’s within the contractual authorities of international definitions. Perhaps however, international law brings comfort to the international business family providing a support for general cohesion and exchange of activities across the national borders. Throughout its mission, the law provides tools of support for the activities and structures operating within the general framework of the international business. In a short hand, a rational being may purport this as the positive contribution of the international law in settling business disputes. However, the same law is deemed as a basic support for increased international chaos and disputes. On grounds of rationality, this is the negative impact of internal law in settling business disputes.[2] For impartiality in both of the phenomena, stakeholder into their detailed description should never be compromised. Advantages of international law.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Summarily, one can say that international law does to business what Aristotle did for the school of philosophy. The domain of the international law contribution to business would perhaps open volumes of discussion if taken at a deep emphasis. However, a sub detailed analysis would still provide a support for the same.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Within the international business, an encapsulation of activities of intensified nature is the operational attire of the system. These activities are compounded by diversity in their attributes and volume of work. It involves transactions of broad nature brought forward by nationals of different human understanding. Due to the diversity in these activities and domestic legal authorities, parties into these activities often find themselves trapped in the pool of conflict between one another, structures and activities. For harmony into the business activities, international business comes to provide understanding and harmony into such business prospects.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Firstly, the environment, within the international business activity ought to be taken care off. Various production, distribution and business transaction processes involve dimensions that are threat to the environment. The global environment has continued to suffer degradation due to various commercial activities such as factory exhaustions and productions, the maritime activities like oil spillage, over exploitation of resources by the investors, general product dumping above others. The global environment is the most fundamental factor which defines the rationality for livelihood within the globe. Its degradation fosters a threat to the broad image of humanity. However, international law comes in to provide refuge for the global environment through various environment laws such as, the international marine laws, aviation laws, and commercial laws above others.[3] The package of the national laws is inadequate and perhaps is radically inefficient to factor in the responsibility of international environmental attributes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Elsewhere, the international business involves various contractual relationship based on international foundations. Due to the generality of business environment, a breach into the contracts has been discretionary the fundamental daily concept. Such breaches would be impersonalized and irrational if promulgated under the imagery of the national business law. However, international business does coherent validation in breached contractual relationships of an international capacity. Through the codes and regulations of its various internal laws such as the international arbitration, such conflicts are brought down into formal spheres of logical formalities. It therefore seeks to invite legal modalities that govern the transactional portfolio of international contracts.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Indeed, a broad package of instruments is waived in the international business activities. The validation of there transaction would be limited by the legal requirements of commercial activities at the national imagery. Various instruments are required in the due execution of international business activities. Generally, the diversity into the transactions also provides a task force for diversity into the negotiable and activity transfer between different parties. The rationality in the administration, creation, transfer and the use of international business instruments is provided by the formalities of the internation business law. This will radically help to provide pursuit of harmony to those involved in transfer of business process.[4]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   At the international parameter, consumer sovereignty and protection is never compromised. The law has provided that, products and processes within the dimension of business law should articulate standards with which sovereignty and the general health and purchase price support to the consumers should remain a priority. Elsewhere, it has never compromised support in maintenance of high standards of products, services and processes that are not harmful for human consumptions. Indeed, the GATT law stands to provide refuge on commodity dumping and maintenance of high quality products.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The international business operates within organizational structures. These may include aviation (both air and marine), factory stands, resource depots, banks, the legal bodies, above others. The proficiency should be maintained which is adequately catered for by the international law.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Broadly therefore, international law is compounded by various advantages with which the success and promotion of the international business is fostered Disadvantages of international law.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Though coupled with various advantages, the same is not limited to a number of weaknesses. Conventionally, international business acts within the broad structures of the international business portfolio. However, this environment captures person’s of different nationalities with limited scales of common understanding. A collaboration between these persons in however hypocritical and only limited to the attributes with which the parties may be willing to understand one another.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Consequently, international law has been the main source of global misunderstanding and the major pivot concept that provide a tool for interstate conflicts. Different parties and state into international business have echoed on various disputes and conflict whose raw synthesis is potentially rooted in the understanding of the international law.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Domestically, the business activities are safeguarded by the domestic commercial laws. However, such laws are only limited to the economic structures found within the spectral national boundaries. With the diversity into the economic empowerment of the different global states, their national law stands to be different in an adaptation of the structures operating within them. The economic authorities of different state activities validate them to operate in within different state activities and within different commercial laws. Elsewhere, the general difference in the economic dignity of different states imposes chaotic relations when a balance of understanding is employed to resolve international business activities.[5] The rational beings have never been at ease to compel at in providing a solitary understanding between business conflicts born between parties or states of different economic orientations. Summarily therefore, international law has been a basic source of misunderstanding and chaotic asymmetries between different nationalities.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Conventionally, international law stands to be a basic source of various global conflicts. Many people have ascended to this law as being a chief source of benefits at the expense of the others. Either, the same has being seen as a source of success to the highly developed and economically potential nations. The less developed and poor nations have however been seen as objects of exploitation by these laws. This is the foundations into the state of global conflicts and misunderstanding.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Broadly, different statues of the international laws have applied different in the domain of international business. Firstly, the labor laws provide a descent support on employment and personal protections at the workplace. These laws have been developing to provide material support that governs the rules and regulation for the international labor supply. The same has been developed via a coherent support with which the role of the workforce is to be given a support. Labor laws have been used to provide protection in terms of salary and wage payment so that workers are not exploited of the labor resource against wage package that does not provide for their sovereignty and high living standards. Either, it seeks to protect persons from effects of poor working conditions. Generally, international labor law is a package of administrative laws that provide adequacy in the working conditions of the people at their workplace. It also governs the international exchange of labor force. Consequently, it provides a support for equality in employment opportunities without discrimination into the grounds of  Ã‚   ethnicity, gender, nationality, race, religion and other parameter. It also encapsulates the avoidance of juveniles and young people from labor exploitations. Summarily, this law package provides a tool for a coordinated approach in the framework of labor within the international image.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Either, the sovereignty of holders of intellectual property rights and the role of internet has been of a great value indeed. The development of product and service has fundamentally been seen as an important factor if the state of international business is to be rationalized. Though the scope of intellectual property rights is too broad, a short hand summary of the concerned remains objective. The international law has however not overlooked the role played by the intellectual property ownership.[6] Indeed, various laws have been instituted which seek to govern the sovereignty in the rights of the intellectual property holders. Perhaps, the Blockbuster should never be down looked in defining the role played by the internet system in providing a support for sovereignty into the holders of these rights. The international law recognizes and appreciates the roles played by these holders towards the success of the global productions. The various laws instituted provide frontiers for continued support into the use and ownership of these rights to avoid the basic conflict which may arise thereon.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The general business administration is a key aspect that operates within the business framework. International business law seeks to authenticate and validate such administration through drafting legal processes and procedures that provide a continued support for a good organizational leadership. It has provided for a conventional structure of the corporate governance where the different structures into such corporations are provided for the adequacy through the development of the primary function of each. This has been done to persuade a global understanding between the corporate governance and stakeholders of the business. This promotes success and vigilance into the international business arena.[7]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Within the international business comprised of various contractual relationships, the aspect of liability, its defense and elsewhere its discharge are fundamental basics for every aspects that promote understanding in the international business. The same law has however never compromised in providing a legal framework that guides and promotes illegibility into acceptance of liabilities. Various ethical and legal standards have been formulated with which the acceptance, defense and discharge of liabilities in international business should be administered. Within the business process, liability acceptance costs the decency of its procession.[8] Otherwise, no solid business foundations would operate in the absence of regulations that instill confidence into every single business. The international law comes into sanction with various understandings in form of laws and regulations governing international business liabilities. It seek to provide dimensions which instill confidence in every business proceeding.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Generally, the contractual relationship and transfer of activities follows the suit of various negotiable instruments. However, the legality of holding and transfer of negotiable instruments should follow a well modeled structure of activity with which transfer of ownership should be adequately defined and regulated by the law. Due to the diversity and intensity of activity within international business, the importance of negotiable instruments is important. However, international law has come to persuade for adequacy in all the transactions formulated within standards of holding and transfer of negotiable instruments. They seek to safeguard the interests of the parties into it. Otherwise, the international law is adequate in providing legal dimension that regulate the ethics in these instruments.[9]   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Either, the international law recognizes and honors the personal rights in property ownership. Consequently, it anchors provision that help to provide for the rights in exercise of transactions and interest in every piece of personal property. Through the piece of codes and regulations on property ownership, all transaction rooted on transfers and interests of ownership in property right are safeguarded. Above the aspect of personal property, the aspect of the credit rights and interests in real property is provided for. The   recognition of parties under ownership of real property and estates are provided with affiliated provisions on parameters with which they can use their property for any security interest in due process of sourcing credit.   Different law statues have compounded the various transactions that may be available in every activity relating to international property/ estate ownership. With the broad recognition of the threshold consequences behind bankruptcy and its abuse to the consumer population, the consumer protection Act of 2005 is provided for the international law to safeguard the consumers from the acrid losses which may befall them in the due process of bankruptcy affecting business men. Consequently, any activities that mitigate the enjoyment of consumers of products at the international parameters are provided for.   Various legal authorities have been formulated to provide a descent support for issues of international business bankruptcy.   The law also recognizes the bank system and the transfers of checks as important components of business transactions.   Various banking, wire and checks writing at the international level have been provided for through a structure of various law sets.[10] Summarily therefore, international law does a comprehensive package of benefit in the adequate performance of the global business.   It seeks to formulate various laws which help to provide a coherent support into the overall factor of international business transaction. WORKS CITED Bederman, David J. International Law in Antiquity:   David J. Bederman. Cambridge, England: Cambridge University Press, 2001. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=105008836. Internet. Accessed 16 November 2007. p. 57 Buchanan, Allen. Justice, Legitimacy, and Self-Determination:   Moral Foundations for International Law. New York: Oxford University Press, 2004. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=110214133. Internet. Accessed 16 November 2007. p. 93 Finch, George A. The Sources of Modern International Law. Buffalo, NY: William S. Hein, 2000. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=27948629. Internet. Accessed 16 November 2007. p. 66 Hathaway, Oona A. Two Cheers for International Law. The Wilson Quarterly, Autumn 2003, 50+. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=5002035454. Internet. Accessed 16 November 2007. p.1 Knop, Karen. Diversity and Self-Determination in International Law. Cambridge, England: Cambridge University Press, 2002. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=105114608. Internet. Accessed 16 November 2007. p.73 Meron, Theodor. International Criminalization of Internal Atrocities. American Journal of International Law 89, no. 3 (1995): 554-577. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=96649446. Internet. Accessed 16 November 2007.p.1 Ratner, Steven R. International Law: The Trials of Global Norms. Foreign Policy, Spring 1998, 65+. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=5001329988. Internet. Accessed 16 November 2007.p.1 Richardson, Henry J. The Gulf Crisis and African-American Interests Under International Law. American Journal of International Law 87, no. 1 (1993): 42-82. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=95199148. Internet. Accessed 16 November 2007. p.1 Roth, Brad R. Governmental Illegitimacy in International Law. Oxford: Oxford University Press, 2000. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=30428687. Internet. Accessed 16 November 2007. p.56 Yee, Sienho and Wang Tieya, eds. International Law in the Post-Cold War World: Essays in Memory of Li Haopei. London: Routledge, 2001. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=od=102757928. Internet. Accessed 16 November 2007. p.104 [1] Roth, Brad R. Governmental Illegitimacy in International Law. Oxford: Oxford University Press, 2000. p.56 [2] Ratner, Steven R. International Law: The Trials of Global Norms. Foreign Policy, Spring 1998. p.1 [3] Bederman, David J. International Law in Antiquity:   David J. Bederman. Cambridge, England: Cambridge University Press, 2001. p.57 [4] Meron, Theodor. International Criminalization of Internal Atrocities. American Journal of International Law 89, no. 3 (1995). P.1 [5] Finch, George A. The Sources of Modern International Law. Buffalo, NY: William S. Hein, 2000. p.66 [6] Buchanan, Allen. Justice, Legitimacy, and Self-Determination:   Moral Foundations for International Law. New York: Oxford University Press, 2004. p.93 [7] Knop, Karen. Diversity and Self-Determination in International Law. Cambridge, England: Cambridge University Press, 2002. p. 73 [8] Hathaway, Oona A. Two Cheers for International Law. The Wilson Quarterly, Autumn 2003. p.1 [9] Yee, Sienho and Wang Tieya, eds. International Law in the Post-Cold War World: Essays in Memory of Li Haopei. London: Routledge, 2001. p.104 [10] Richardson, Henry J. The Gulf Crisis and African-American Interests Under International Law. American Journal of International Law 87, no. 1 (1993) p.1

Mexico Essay examples -- essays research papers

Mexico is bordered by the United States on the north, the Pacific Ocean on the west, the Gulf of Mexico and the Caribbean Sea on the east, and Guatemala and Belize on the south. It is characterized by an extraordinary diversity in topography and climate and is crossed by two major mountain chains, the Sierra Madre Occidental and the Sierra Madre Oriental. The high central plateau between these two mountain ranges historically funneled most of the human population toward the center of this region. Mexico features volcanic peaks, snow-capped mountains, tropical rain forests, and internationally famous beaches. Mexico City is an enormous metropolitan area and dominates the rest of the country's culture, economy, and politics. Nearly one-fifth of the nation's population lives in the immediate vicinity of the capital. Mexico City is also a central hub for Mexico's transportation network—including railroads, highways, and airlines. Mexico and the United States share a border that is 3,100 km (1,900 mi) long, much of which is formed by the RÃ ­o Grande, a major river known as the RÃ ­o Bravo in Mexico. This international border is the longest in the world between an economically developing country and one with a highly developed, industrialized economy. This proximity has influenced Mexico's internal and external migration patterns, prompting several million Mexicans to move north to the border region or to the United States itself. It has also affected the culture of both Mexico and the United States, fostering the development of a number of communities along the border that mix the cultures of both nations. Mexico covers an area of 1,964,382 sq km (758,452 sq mi). F. Climate The climate throughout much of Mexico is characterized by high temperatures and moderate to low rainfall. The highland climates vary considerably with elevation, but the central plateau generally has a moderate climate with few extremes of hot or cold. Mexico City, for example, has an average July high temperature of 23Â °C (74Â °F) and an average January high temperature of 21Â °C (70Â °F). Cities at lower elevations on the plateau have somewhat warmer climates. The northern and central areas of the plateau are arid and semiarid, with the drier regions receiving about 300 mm (about 12 in) of rainfall annually. Rainfall increases in the southern regions of the plateau, which receive about 500 to 650 m... ...cy loan to Mexico in January 1995. However, the economic crisis was the worst in Mexico since the global economic depression of the 1930s, and resulted in negative economic growth in the country in 1995 and 1996. The economic crisis led to a serious decline in the standard of living for most Mexicans, as well as an increase in extreme poverty. The nation's gross domestic product (GDP), the value of all goods and services produced domestically by a country, declined 6.2 percent from 1994 to 1995. Since then the economy has been recovering. In 1998 the GDP was $393.5 billion. Mexico City, capital of Mexico and the center of the nation's political, cultural, and economic life. Its population of 16.9 million (1996 estimate) makes Mexico City the second largest metropolitan area in the world, behind only Tokyo, Japan. It is also the seat of Mexico's powerful, centralized federal government. Much of the political decision-making for the nation takes place in Mexico City. Culturally, Mexico City dominates the nation since most of Mexico's leading universities, intellectual magazines, newspapers, museums, theaters, performing arts centers, and publishing firms are located in the capital.

Fires of Jubilee- Nat Turner’s Fierce Rebellion

August 21, 1861 proved to be a day of sorrow, pain and lessons learned. The Fires of Jubilee is a historical account of the events that led to the bloodiest slave rebellion in southern history. Nat Turner is painted as a fairly intelligent and prophetic slave who believed he was chosen to free his people from their slave bondage. Nat’s rebellion last almost two whole days before being halted by militia men from the state of North Carolina, leaving upwards of 50 whites murdered in the aftermath. Although it took some time to fully accomplish, the rebellion of Nat Turner ultimately led to the freeing of the slaves some years later.The history of the south and slaves was forever changed by the events of the rebellion. Nat Turner’s name will forever be a symbol of black terror and violet retribution and at the same time, a legendary black hero. In the Old South, it was understood that Christianity was not only used to save heathen souls, but also to keep the slaves suppress ed and kept them from striking back against their masters. (Page 14) Southern white slave owners would pick and choose only certain bible lessons for the slaves to be shown.The owners felt that by restricting the knowledge of the slaves, they would be able to keep them inhibited. Words of the bible were twisted to mean different things to the slave population. Slaves were told that if they did not obey their masters and perform their allotted tasks that God would burn them in the flames of an eternal hell. To be good children of God the slaves were to accept their lot, be meek and faithful, patient and submissive, even if their masters were cruel. Slaves were taught to leave it to God to punish.And if they behaved great would be their reward in heaven. Page 14) Nat Turner was a very special slave. From a very young age it was obvious that Nat was intelligent and others around him knew it. People around Nat always thought he would grow up to be a prophet. â€Å"He was like a powerfu l angel whose wings were nailed to the floor. † (Page 69) As Nat grew older he also grew in his faith, he believed himself to be in full favor of God. He prayed daily and spent time in devotion and fasting to his heavenly father. In an attempt to gain more following Nat performed a baptism in the river of a white man.The result was not as he hoped, however it only helped to push him closer to his God. Nat began having visions for a time before the rebellion came into full plan. His visions were often bloody and violent, being described as blacks and whites fighting in battled under a darkened sky while thunder rolled in the heavens. Rivers of blood flowed free about and voices spoke from heaven saying â€Å"Such is your luck, such you are called to see, and let it come rough or smooth, you must surely bare it. † Nat was captivated by these visions and prayed fervently for a revelation.After some time had passed, the Spirit called out to Nat from the heavens saying †Å"Behold me as I stand in the heavens. † Nat looked up and saw the saviors hands stretched forth from east to west, even as they were on the cross on Calvary for the redemption of sinners. † (Page 36) Slave owners and others around town either passed Nat off as crazy or simply did not bother to believe him because he was not an ordained minister. In his own way, Nat was one of the most renowned prophets of his day. He was revered and trusted by many fellow slaves.Nat also claimed to have powers of healing and such. Several men became close confidents of Nat. He had full trust and confidence in his â€Å"lieutenants† as he called them. Four men Hark Travis, Nelson Williams, Jack Reese and Sam Edwards were Nat’s leading men in the rebellion. They were responsible for many things but spent a lot of time spreading discontent within the slave communities keeping them ready and on edge at any moment for the rebellion to begin. Nat’s lieutenants did not kno w a specific plan; he was quite secretive about the dates and details surrounding the rebellion.One of Nat’s visions gave him the final push he needed to bring the plan into full swing. At one point, a black spot appeared on the surface of the sun, for Nat this symbolized a black hand over the sun. This was his sign that God wanted him to rise up against his white enemies. Jehovah was commanding Nat to rise and move. Nat’s trusted generals stayed by his side as this revolt happened without warning. The violence raged on for more than twenty four hours. Many were left dead and dismembered in the aftermath.The consequences of the rebellion were very well known in the state and county. Immediate consequences were obviously the lost lives of the fifty-something whites. Many other slaves lost their lives as the militia began to fight and shut down Nat’s group. The entire county and state was on alert for any suspicious activity coming from any slaves. There was no wa y to tell if this was just the beginning or the ending. Rumors spread quickly throughout the state that Nat’s rebellion was only the beginning and that many other slaves outside of his county were planning to revolt as well.These rumors proved to not be true, but because the residents of the state were on high alert, many innocent, free blacks and slaves were killed simply for being suspicious. There were trials and hangings publicly in Virginia and North Carolina. The lives lost due to this rebellion went far beyond the men and women killed on the first two days by Nat and his crew. Eventually abolitionists were blamed for the rebellion because of their provocative material on flyers and in articles that were in circulation. Many whites believed that the reason for Nat’s rebellion was because of said flyers.No evidence has ever been found showing knowledge of the flyers being associated with Nat. It has come to be known that the true reason is because of Nat’s visions and callings from God; however whites did not want to believe that their God would allow this to happen. On a nationwide level the consequences began to affect many in the north as well. Abolitionists were to blame for all of these problems according to southern whites. Some of the more famous ones such as William Lloyd Garrison and Issac Knapp boldly stated that slaves should be freed immediately.They were believers that â€Å"Negros deserved life, liberty and the pursuit of happiness just like white people. † (Page 129) Many southerners did not agree with the abolitionists’ standings on slavery, in fact a vigilance association in South Carolina offered a $1,500 reward for any agitator convicted of distributing any of the abolitionist flyers or documents. No matter what anyone said, Southerners became increasingly anxious after the rebellion looking for someone to blame for Nat’s stand other than themselves. Things became increasingly hostile towards ab olitionists in the weeks and months after Nat’s revolt.Many in the south blamed the â€Å"Yankees† and made it difficult for people to express freedom of speech. (Page 135) Liberation of the slaves seem to be the only way to guarantee no further uprisings or revolts from the slaves but it was not easy to convince all of the whites of that. After all, they still had much work to be done on their farms and other items needed tending to on their plantations. Many southerners increasingly proclaimed that slavery was an institution and a positive and unequivocal good, condoned by the bible and ordained by God from the beginning of time. Page 143)A senator from Washington, John C. Calhoun made several statements on the subject of slavery. He went on to justify slavery on historical grounds insisting that â€Å"there never has yet existed a wealthy and civilized society in which one portion of the community did not, in point of fact, live on the labor of the other. † ( Page 143) There were many other reasons for not immediately freeing the slaves, on a nationwide level, many in the north were afraid that a radical freeing would cause a rush of newly free African Americans to rush into northern states.Much research and planning was put into the writing of The Fires of Jubilee. Reading the book it is hard to get a feel for exactly what Stephen B. Oates feelings are on slavery and the rebellion. This book has forever changed my opinion on slavery. I have studied about slavery as much as any other college student that is not a history major. Before reading this book, I knew and understood basic events leading up to the emancipation proclamation. This story seems so personal. You really get to know Nat on a personal level.As a Christian myself, I can relate with Nat on wanting to be close to God. I have never had a prophetic vision but I believe it when others tell me of their experiences. I do not feel Nat was right by revolting the way he did but the n again, I have never been in his shoes being suppressed by others around me. Nat was a very strong, god fearing man and I believe he felt his revolt was the only way to bring attention to the problem of slavery. Stephen B. Oates does a wonderful job with his descriptions in the novel.The work is very vivid and I can almost see the pictures in my head playing out like a movie, especially when Nat’s visions are described. I especially liked the ending chapter in the book when Stephen discusses his trip to the 1973 version of Southampton County. Reading his details makes me want to take a road trip just to see the things he seen for myself. I am not sure what would still be standing over 40 years after this book was written but it seems to be worth the trip. This book has given me a new opinion on slavery and how it affected the world that we live in today.I was not expecting to have such a different view on slavery and oppression at the beginning of this reading assignment. Th e story was quite touching even though there were parts that could have been avoided. Nat Turner will be a name I never forget when it comes to slavery. We still have lasting affects in today’s society of slavery. Even though most of the modern day African Americans that exist in my life did not have to deal with slavery, I can understand how they may still be affected by the idea of it.