Monday, December 30, 2019

Essay about Architecture and College Choices - 1885 Words

There are many colleges in the United States but not all of them have good programs in architecture. The colleges that I plan on going to would be Northeastern University, Academy of Art University, and Georgia Tech. I have used many different places to get my information on architecture and these colleges such as books over architecture, the schools main pages, InfOhio, Ebsco database, and many other sources. Architecture has always been an interest of mine, when I was younger I would always draw up little blueprints for the house I wanted to live in and I don’t know what exactly got me into it but I want to do something that I will enjoy doing in the future, and architecture was a good choice. I think that the colleges I have found†¦show more content†¦The Tuition for NEU is in the range of $20,000-$27,000 this amount will vary depending on if you live in state or out of state. The total amount of students enrolled at NEU in 2012 was 21257 students. The school itse lf is located in Boston, Massachusetts the exact address is 360 Huntington Ave, Boston, MA 02115. The school itself is around a medium sized school which doesn’t have very long commutes between classes so the students won’t be late to class all the time. The deadline for enrollment at NEU is early fall and early spring depending on when you want to take your classes. The major offered here for an architect would be a major in architecture and design. Northeastern has a co-op program which is a very good thing for an architect because it will give you the experience required to start working as an architect and skip the intern step in between. The Scholarships offered at NEU are, the normal scholarships that all applicants are open to but you must sign up for fall classes and this scholarship is a competitive scholarship which undergraduate applicants will have to score the top on the entrance exam. These top 25% could also receive merit scholarships that entitle the st udent to $5,000-$20,000 there first year of school and $5,000-$10,000 per semester for the rest of their college life. The national scholarship which is given to anyone who is noticed by the school board as a national scholar and it is $30,000Show MoreRelatedThe Career Path Of The North Carolina State University764 Words   |  4 Pagesrecommended ,and important because it sets the path to your future into who you will become. Deciding the right college might be hard having so many opportunities laid out for you, but article writer Katy Hopkins explains how ideally a high school senior should have at least a clear career path to being able to compare colleges making it easier in choosing the most recommended into your career choice. North Carolina university is located in Raleigh,NC. During the past year a record of 21,099 freshman applicantsRead MoreTaking a Look at the University of Oregon728 Words   |  3 PagesCollege Essay - University of Oregon The University of Oregon is located in Eugene, Oregon. The University of Oregon is widely known for an impeccable environmental science department as well as for being a very progressive university. The beautiful mountainous location allows for very applicable science classes and contributes greatly to the learning of the students. Relatively close proximity to the city of Portland and the Pacific ocean are very intriguing to many, attracting many potential studentsRead MoreEssay1354 Words   |  6 Pagesfive-- depending on the beverage. Much like coffee shops, there many colleges offer different features at similarly diverse price points. Out of the thousands in the US, the University of Washington and the University of Wisconsin Milwaukee best suit my needs. UW Milwaukee, located less than an hour from Waterford, provides the only accredited architecture program in Wisconsin. University of Washington also provides an architecture program. Both schools offer reputable psychology p rograms as well.Read MoreIntroduction. Behind Every Creation There Is A Creator,1370 Words   |  6 Pagesto the job site where a mere vision is being made reality. They are the men and women behind the structures we see. From as simple as residential to as complex to skyscrapers in metropolitan area. I have decided to pursue studies and a career in architecture, by completing the necessary criteria needed such as education, gaining experience and certification. Job Description The architects work closely with the client, down to a personal level, to really understand their situation and how a designRead MoreStatement of Purpose for a Career as an Architect or a Personal Trainer1115 Words   |  5 Pagesultimately be my decisive factors in the matter are as follows. The education required to enable a job opportunity is the career paths most essential element. Along with the necessary schooling, one must possess or build the skills needed to complete the choice careers responsibilities. Although money may seem greedy and narrow-minded I want to be positive; I will have the ability to care for other and myself with ease, and will remain one of my key focuses. An architectural position requires rigorous educationalRead MoreMy Motivation For Taking The Msc Programme Of Your Choice1597 Words   |  7 Pages o Your motivation for taking the MSc programme of your choice. My interest and eventual passion in communication engineering was kindled primarily with the encounter of Principle of Communication course and lab work at 4th semester. The immediate reward it begot was a drive to get acquainted with telecommunication which I found absorbingly delightful. This period was very significant for me as I paved my way for long term career in research. Without wasting my time anymore, after my 5th semesterRead MoreEssay on The Human Response to Physical Structure1583 Words   |  7 Pageswhether positive or negative reactions and behaviors. Architecture is described as the design of a structure able to house people or objects. The visual appeal, the colors, the building materials, and the dimensions contribute either negatively or positively to human behavior. The most elementary and basic architectural tools may be adeptly manipulated to promote a positive and humane environment even under severe constrictions. Architecture operates as an essential tool in the restoration of positiveRead MoreEssay957 Words   |  4 Pagesapplying for permanent residency to Australia under Independent Skilled Immigration. I have explained in details as to how my qualifications as a Bachelor in Architecture (B.Arch) is on par with Australian accredited academic qualifications in the seven areas of core study as required. I have completed my Bachelors of Architecture from Thiagarajar College of Engineering (affiliated to Anna University, Chennai). The duration of my Undergraduate degree was of five years which was divided into 10 semestersRead MoreAnne Arundel Community College ( Aacc )1348 Words   |  6 PagesAnne Arundel Community College (AACC) is a two-year public, community-driven institution of higher education. It is one of the oldest and largest community colleges within the state of Maryland. Anne Arundel Community College offers transfer and career associate degree programs; certificate programs; credit courses; and continuing education, workforce development and lifelong learning opportunities. AACC is a single-campus community college with a main campus in Arnold, off -campus sites at ArundelRead MoreMy College Roommates838 Words   |  3 PagesCollege is a period of adapting from regular, socially centered life to a life more focused on studying and school work. This period of chan ge is difficult as a balance is made between spending time with friends and making time for writing papers, deciphering mathematical equations, and fulfilling the requirements for any number of other course studies is made. Only college student’s can understand the difficulty in this. As with many college students, I live off campus in my own apartment. With

Sunday, December 22, 2019

Analyse Theories, Principles And Models Of Communication

2.1: ANALYSE THEORIES, PRINCIPLES AND MODELS OF COMMUNICATION What is communication theory? The communication theory was proposed by S.F Scudder in the year 1980. It states that all living beings existing on the planet communicate although the way of communication is different. The universal law of the communication theory says that all living things, whether they’re plants, animals or human beings, communicate through sound, speech, visible changes, body movements, gestures or in the best way possible to make others aware of their thoughts, feelings, problems, happiness or any other information. (Merton, R.K. 2001) Like human beings, animals also communicate among themselves through gestures and body movements. Monkeys always carry their†¦show more content†¦Having a single list of tasks, and a list of those responsible for these tasks can also be a useful resource within a project. 3). Anticipate time spent on communication ‘...collaboration is inherently more time-consuming – and hence resource-consuming and costly – than non-collaboration activities.’ (Huxham, 1996) 4). Formal vs Informal Communication strategies may be more informal in small teams of researchers that have built up trust. The level of formality/informality needs to be identified. It is still vital to keep written records of agreements and plans for work, however. In new or large groups, communication must be frequent and structured. 5). Agree how decisions will be reached It is important to agree and commit to a strategy for communicating as a project team. Consider options. Having a communication strategy that people haven’t had an opportunity to agree on, or who aren’t aware of, will mean that communication won’t be effective. 6). Ensure people commit to communication Not communicating is the surest way to undermine trust. If communication is failing, address the issues quickly and either find alternatives or emphasize the need to communicate. The need to answer e-mails promptly and attend meetings need to be established in consortium agreements and actions taken on failure to comply need to be identified. Review the communication strategies after key stages; identify the bestShow MoreRelatedThe And Criticisms Of Laswell s Work Essay1158 Words   |  5 Pages -Introduction -Theories of his works - Case Study -Praises and Criticisms of Laswell’s Work - Other areas where Harold Laswell was also known -Reference HAROLD DWIGHT LASWELL He ls an American political scientist and a Communications Theorist who was popular for his extensive research in the areas of Politics. He was also a leader in the applications of Psychology principles to Politics and also in designing a structure of Politics which is based on theories of Natural SciencesRead MoreThe Psychological Theories Of Alcohol Dependence, Social Learning Theory And Alcohol Expectancy Theory Essay1471 Words   |  6 Pagescompare two psychological theories of alcohol dependence, social learning theory and alcohol expectancy theory. Bandura’s Social Learning Theory and Its Application to Alcohol Dependency Social learning theory is the cumulative works of many psychologists and sociologists, the most influential of these, was Bandura (1969, 1977 and 1986) whose works were the first to combine the principles of cognitive psychology and those of behavioural learning (the two prominent theories of the time). Bandura’s (1969Read MoreManaging Quality in Partnership Working with Service Users Essay1205 Words   |  5 Pagessocial care 1.2 Analyse the role of external agencies in setting standards and the impact this has on service quality The learner will: 2 Understand how to promote partnership philosophies and relationships in health and social care services Partnership working: empowerment; theories of collaborative working; informed decision making; confidentiality; professional roles and responsibilities; models of working eg unified, coordinated, coalition and hybrid models; management structures;Read MoreAcross Most Of Europe, Foreign Language Learning For At1336 Words   |  6 Pagesin-depth, by first looking at the theory that forms its basis, before exploring its possible limitations, and the practical implications of these. From a theoretical perspective, the principle theoretical framework that underpins CLIL is known as the 4Cs model. This is a model proposed by Do Coyle (2007; 2008) that establishes four general parameters for CLIL, and focuses on the interrelationship between them. The four parameters of CLIL are content, communication, cognition, and culture. ContentRead More Analysis of Communication and the Transformation of Economics by Robert E. Babe 725 Words   |  3 Pagesfor information in economics using commodities as signs or indicators in the market, also Interrelations between economic and communication studies. Babe, present two situations were money could either measure information and/or carry information concerning the value of information, while using neoclassicism as his mode (p.10). Using neoclassicism price system principles, which is the most significant method of communicating relative values to participants in any market. Could it clearly be assumedRead MoreHitech Act1580 Words   |  7 PagesPlans for strategic intent, context, and line of sight.  Consider mission, vision, core values, business principles, strategic goals and objectives, strategic direction, strategic initiatives, and outcomes-based performance measures—all elements of a robust strategic planning framework (Tan). Conduct thorough environmental scan and strategic analyses, including: Synthesizing of demographic analyses/drivers/influences, identifying change drivers—business (i.e., chronic disease management, provider shortageRead Moresystem theory1652 Words   |  7 Pagesï » ¿ One of the biggest breakthroughs in how we understand and guide change in organizations is systems theory and systems thinking. There are two main definitions of a system, an implicit and an explicit phrase, with the explicit phrase being used in system thinking by organizations. The definition refers to a system as being a collection of highly integrated parts or subsystems that attain a specific goal, through inputs that are processed into precise outputs. And thus if a part of thisRead MoreThe Experience Of Organisational Change Management1707 Words   |  7 Pageschange which I have personally experienced while completing a summer internship in an international logistics and transport company ca lled UAB Transimeksa. The main purpose of this essay is to analyse the experience of organisational change management in relation to applying multiple perspective theories and models which will help critically evaluate and present reasoned arguments of effective change management. In doing so, this paper will be divided into three parts. The first and second part will focusRead MoreCase Study : Applied Leadership Theory Essay909 Words   |  4 PagesCHAPTER FOUR Applied Leadership Theory Introduction Chapter four will define the plan of action to interview Chad Brake, the first shift Senior Supervisor for the Equipment/Component Preparation departments at Pfizer Corporation in McPherson, Kansas. The interview will be designed to pinpoint three key objectives based on the three leadership principles brought together in chapter two and chapter three. The purpose of the interview is to obtain responses from Chad Brake that will validate theRead MoreHealth: Sociology and Social Care9095 Words   |  37 Pagesof different forms of communication used in health and social care settings and its importance for effective service delivery. UNIT ABSTRACT Learners will investigate the communication processes in health and social care settings considering the barriers to communication and ways to overcome these barriers. Learners will explore the process of communication and how effective communication can affect how individuals feel about themselves. In addition, communication systems within organisations

Saturday, December 14, 2019

Belonging Crucible Free Essays

All individuals unmistakably experience a sense of belonging in a multifaceted and convoluted process. Arthur Miller’s play â€Å"The Crucible† and George Clooney’s film â€Å"Good Night and Good Luck† are both texts where acceptance into society is explored in characters through various and complex measures. We will write a custom essay sample on Belonging Crucible or any similar topic only for you Order Now While the play and film both illustrate the complexities of assimilation into society to an individual’s identity the Crucible further presents this as an ironic situation as people are pressured into conforming to societal desires, where choosing to detach from community values leads to a detrimental fate.The Crucible examines the exploitation of an individual by the power of coercion in society. The play is set in 1692 and it reflects the Salem witch Trials of that time contrasted with McCarthyism in the time of Miller. It depicts the Puritan characters where they are faced with choosing between binary oppositions as ‘a person is either with this court or†¦ counted against it, there be no road between†. Miller also adopts patois and archaic language to distance responders from the context and events, so as to critically analyse the conflict within character relations. Abigail is one character who has been exploited into conforming to society. She is dishonest and manipulative as on the occasion of the forest events. She exploited Tituba to act as the scapegoat through her use of contextual references voiced through vivid imagery, â€Å"I see the face of Lucifer, your face and mine†, overriding the pleading tone of the Barbados woman. She has also been able to avoid detection of her sinful behaviour, which was achieved by her and the other girls using repetitive histrionics, â€Å"I want to open myself!†¦ I saw Sarah Good with the Devil! I saw Goody Osburn with the Devil!†¦ † The responder clearly can see how Abigail has been pressured into conforming to her community as she uses uncomprehendable methods in order for her to survive. The Crucible also displays the importance of assimilation into society in maintaining an individual’s identity. Marry Warren is a character who chooses to conform to society so that she can maintain her identity. She is a young woman who has no major social status in her community and the only way for her to feel accepted is to conform and obey with what is expected of her. The power Abigail has over her is enormous as Mary tries to stand up for justice, but is unable to as the peer pressure is too much for her to handle. She listens to Proctor’s advice in order to save Elizabeth, â€Å"Mary, remember the angel Raphael-do that which is good†, but once in court she is rendered powerless by the constant mocking of Abigail and the girls as they mimic her every action. This causes Mary to accept defeat as she gives up her personal values and sides with Abigail over Proctor, â€Å"I’ll not hang with you! I love God, I love God†. This enhances the audience’s understanding of how the power of coercion in society leads to a detrimental shaping of an individual’s identity as they choose to conform to save themselves. Through society’s pressure to conform, Good Night and Good Luck heightens the reader’s awareness of how an individual is forced into committing to civilisation, leading to a negative impact on their sense of self. The married couple, Shirley and Joe Wershba, are going against CBS’s company policy as no co-workers are allowed to be married. In order for them to stay married they must keep it a secret. In choosing to adhere to community values it forges a detrimental shaping of their identity as they must keep their secret unknown or they will face the consequences. Later in the film the couple are asked by the companies manager, Jeff Daniels, for one of them to resign as he state that everyone knows they are married anyway. The script writer has also incorporated irony here as Shirley says, â€Å"Finally we can tell everyone the truth†, knowing well that everyone already does know. The effect this has is that it enables the audience to understand how it feels liberating for the couple that they don’t have to keep this secret anymore, and that this secret was acting as a barrier for them to truly belong and by ridding themselves of this secret it allows them to feel a positive sense of self. Arthur Miller’s play ascertains that choosing to detach from societal pressures offers a way to nurture an individual’s identity. Proctor is a character who is seen to be a strong family man, but behind the scenes he was having an affair with the young Abigail leading to him to have marital roubles. This gave rise to Proctor feeling a sense of alienation where he doesn’t deserve the respect of his community or his wife’s love. Whilst in court he makes a declaration to Danforth that they will both will burn in hell, which is an attack on Danforth and himself, â€Å"A fire, a fire is burning! I hear the boot of Lucifer, I see his filthy face! And it is my face, and yours, Danforth! †. During the concluding scenes of the play Proctor has an epiphany when he is asked to sign the papers confessing his sins. He realises that his name is what defines his identity and that by signing it away he is giving up on himself. In refusing to sign the papers Proctor is asserting his right to judge himself, â€Å"for now I do think I see some shred of goodness in John Proctor†. Proctor here conveys the message that he is choosing not to belong to his society but to his wife as she is what is most important in Proctor’s life. This concept of choosing to adhere to an individual’s own beliefs and not to the expected desires of the community is also portrayed in Good Night and Good Luck by the characters Edward Murrow and Fred Friendly. The pair make a formidable partnership as they both have the burning sensation of delivering the truth to the public, even if it is prohibited to do so. Friendly is a bit cautious of completing this risky task as Murrow states â€Å"we might not get away with this one†, but he is still determined as Murrow to see this task through, â€Å"we’re gonna go down swinging†. The inclusive ‘we’ used in their statements shows that they are in this together and backed up with the boxing metaphor in Friendly’s statement exemplifies that they will fight till the end as one team, no matter the consequences. From these texts, through the main characters ,the audience is able to see the possibilities of how choosing to go against the community is beneficial for an individual’s identity. Through examining ‘The Crucible† and â€Å"Good Night and Good Luck† it portrays that people indeed experience a sense of acceptance one way or another. Both texts are inextricably linked as they are both seen by the audience to convey the same notions of belonging, which lead to elucidation of an individual’s identity. How to cite Belonging Crucible, Essay examples

Friday, December 6, 2019

Developing Quality Assurance and Improvement Program

Question: Discuss about the Developing Quality Assurance and Improvement Program. Answer: Introduction: In accordance with the Generally Accepted Accounting Principles (GAAP), the auditors are responsible for dissecting the overall organisational data to find out any type of manipulations or misstatements, which might obstruct its financial progress. Since the auditors are responsible for depicting qualified or unqualified audit reports to conform to the GAAP rules and regulations, King Queen has presented that the financial reports of Impulse Pty Limited are not qualified. According to such unqualified report, it has been found that Impulse Pty Limited has complied with all the necessary regulations in disclosing its financial reports. As commented by Bagshaw (2013), the qualified and unqualified audit reports primarily depict that the organisation has represented the values of the different items in the financial reports in an accurate manner. On the contrary, Ahmed Haji et al. (2016) are of the view that the auditors often adopt unscrupulous measures to maximise their financial gain by providing firms with unqualified audit reports, which are not prepared in compliance with the GAAP rules. In addition, from the provided case, it has been found that the auditor has provided unqualified auditor report to Impulse Pty Limited. This implies that the organisation has developed its financial statements by complying with the GAAP rules. However, the problem of liquidation is inherent, as could be observed from the financial statements. Hence, it signifies that EFL has not analysed the financial statements of Impulse Pty Limited carefully before associating itself in the scope of investment. Along with this, the organisation has not adopted effective asset valuation methods, which requires an audit report to evaluate the financial reports. According to Bedard, Cannon and Schnader (2014), it is the responsibility of the auditors to conduct valuation methods, which is necessary to perceive the financial position of an organisation. However, as argued by Chambers and Odar (2015), the auditors often use qualified connotation for the organisations, which do not depict sufficient financial information in their annual reports. The liquidation issue of Impulse Pty Limited primarily depicts that the organisation has been struggling to settle off its short-term dues and obligations. This is because the debtors turnover and inventory turnover have decreased over the period. Such cash flow minimisation has further aggravated the liquidation problem of Impulse Pty Limited, which has hindered the ability of the organisation to make payments. In this context, Christensen, Glover and Wood (2012) stated that with the assistance of the auditors, the firms are able to guard their liquidity issues and present sound financial conditions. However, the pertinent regulations and cases could be located, which would contribute to understanding the actual value of liability of King Queen. As cited by Cohen and Simnett (2014), the Liability Limitation Agreements (LLAs) of 2008 provide an opportunity to the auditors to minimise any type of litigations, which could be depicted in the audit report of the firms suffering from losses. The unqualified audit report presented on the part of King Queen for the year 2012 has not signified any type of liquidation issues faced on the part of EFL. However, the main liquidation issues have primarily lead to losses, which was acquired on the part of EFL. The particular cases like Lehmann Brothers and Dick Smith have lead to significant losses for a number of investors. Moreover, the CEO and the directors of the organisations have been prosecuted in the court, while the auditors have been fined a meagre amount. The regulatory authority has arrived at a decision that the auditors could not be held liable for payment of any loss acquired on the part of the investors. In the provided case, the financial situation is depicted in the annual report of the organisation, which has been used on the part of EFL for investment conduction. Thus, such wrong presentation in the financial reports denotes the negligence in terms of the responsibility of the auditor. In this regard, Decaux and Sarens (2015) argued that the audit firm primarily depicts authenticity in the financial statements, which could be manipulated for monetary benefits. The particular cases such as Law Society vs. KPMG Peat Marwick and Others; CHD 3 NOV, 1999 and Hedley Byrne and Co Ltd v Heller and Partners (1964) AC 465 depict the influence framed on the part of the auditors for making investment-related decisions. The above two cases resemble the negligence of the responsibility of the auditors, which have resulted in significant losses and scandals. Hence, after evaluation of the above two cases and the liability limitation agreements (LLAs), it could be evaluated that the auditors are somewhat responsible for the organisational misstatements. However, after the intensification of liability limitation agreements (LLAs) in 2008, the auditors are excluded in relation to any type of negligence or misjudgement detected in the audit report. As commented by Duncan and Whittington (2014), after the initiation of LLAs, the investors utilise the report of the auditors as references for completing the financial analysis before making any investment decision. Description of a different situation if EFL had contacted King Queen in making decision: The modification in the provided scenario signifies upon the confidential rules, which have been laid out in the rulebook of GAAP. King Queen is required to maintain the confidentiality of the financial statements of Impulse Pty Limited from EFL, since the latter is a third party investor. Along with this, the EFL approach mainly depicts that the audit firm is responsible for evaluating the financial position of Impulse Pty Limited to ascertain its current feasibility. As stated by Hodge (2014), the investors mainly select the auditor services for evaluating the financial position of the organisation to depict its future scope and return, which could be provided by investment. Since EFL has approached King Queen to dissect the financial position of Impulse Pty Limited, the audit firm would be responsible for any loss incurred. The request for collecting information and depicting the financial reports in accordance with the GAAP rules is sufficient. Hence, by conducting the same, King Queen would not be violating the confidentiality law. This is because it has been only representing the things inherent in the financial report without disclosing any internal information. Under such a condition, the audit firm of King Queen would be responsible for covering the losses incurred on the part of EFL from the investment conducted from their database. As mentioned by Knechel (2016), Goldman Sachs has been liable to pay money to its investors, as presenting the financial reports and evaluation have been conducted, which lead to huge losses. Hence, it could be stated that King Queen is liable to EFL, if the audit firm has been appointed before the conduction of investment. Definitions and importance of actual and perceived independence: The external and internal auditors are provided with independence relating to both actual and perceived auditing, which signify the financial importance of an organisation (McDonald 2014). The auditors independence mainly denotes the absence of external impact on the auditors at the time of preparation of the financial reports. In this context, Pitt (2014) advocated that the non-affected auditors depict the actual financial position of the organisation in the report of the auditors, which could be used for investment decision-making. The below-mentioned auditing independences are given to the auditors during their audit process: Actual independence: The actual independence depicts the situation, in which the auditors are not prevented to make overall evaluation of the financial position of the company. This kind of independence is needed for every auditor, which enable the investors to make sufficient financial decisions by dissecting the entire risk associated with investments. As argued by Riedl and Dunn (2013), the lucrative benefits often distract the auditors to adopt unscrupulous measures by not complying with the actual auditing independence. Furthermore, the actual auditor independence primarily depends on the attitude towards the entire condition and the keenness to depict accurate and feasible reports to the pertinent users. In this regard, Shah and Jarzabkowski (2013) remarked that the stringent regulations and rules have restricted the auditors depending on actual independence during the process of auditing. In opposition to such scenario, the auditors might be punished, which would have a negative impact on their professional careers. Listing of regulatory requirements and professional standards for the different provided situations: According to the provided situation, Bob is required to carry out the assignment provided on the part of its university, which requires a thorough evaluation of the financial condition of Club Casino. However, while performing the evaluation of the financial information, Bob has used the internal information of the organisation in its report, which is mandatory to comply with the assignment brief. Such utilisation of internal information signifies a breach in the auditing procedures, which violates the prevailing audit rules and regulations. According to the regulations, the publishing of the audit report in the absence of any prior notice to the organisation might attract lawsuit, which would negatively affect the brand image and smudge feasibility of the audit reports. As mentioned by Shah and Nair (2013), stringent audit regulations are initiated to proscribe the rivals from taking benefits of the organisational secrets, which would impede its market position. According to the provided information, Wendy has been involved in acting as the secretary of the organisation, since Ace Limited has no secretary at the present state. It has been observed that the person is sitting in the secretarial position of the organisation for the last six months. This has clearly desecrated the GAAP rules and regulations pertaining to the audit procedures. According to the GAAP guidelines, the organisation is liable to comply with the prevailing rules of GAAP, which denotes that the company needs to have an independent secretary to manage the internal company affairs. However, after the breach of such auditing rules, it is necessary for Wendy to resign from the secretarial position. The vacant position needs to be filled by recruiting a qualified personnel to handle the business affairs. As stated by Wisniewski (2013), the GAAP regulations and rules are there to prevent any unethical practices, which might hinder the business performance of the organisation. The provided scenario depicts that Leo has been recruited at the time of vacation for the position of temporary auditor in the context of Precision Machinery Limited. The appointment is arranged, since Leo is the eldest son of a factory worker and the person is engaged in the system of internal audit. Therefore, this appointment decision has breached the auditing regulations, as per the GAAP guidelines. The overall rules applied to the audit members denote that no family member or staff acquaintances could be appointed as the internal auditor. Therefore, the appointment of Leo as the internal auditor has violated the GAAP guidelines. As commented by Ahmed Haji et al. (2016), the investors often consider the audit report and the associated auditors involved in preparing such report. Therefore, any one out of Leo and his father needs to resign from their position to comply with the internal audit procedure of GAAP. According to the provided case, Classic Reproduction Pty Limited has not able to settle the entire audit amount to Chan Associates. The audit fees are due for the last three years. In order to settle off the dues, Classic Reproduction Pty Limited has sold furniture, which is 50% of the furniture and 25% of the business stake. Therefore, this arrangement has violated the principle of auditing relating to any type of bribe from the client. Along with this, the entire change acceptance could not be conducted, since the organisation is yet to be incorporated. Thus, the auditing organisation is required to return the entire share and furniture, which is given on the part of Classic Reproduction Pty Limited for service exchange. In addition, for their payments, the audit firm could pull out its consent form the financial reports of Classic Reproduction Pty Limited, which might represent the poor financial condition of the organisation. References: Ahmed Haji, A., Ahmed Haji, A., Anifowose, M. and Anifowose, M., 2016. Audit committee and integrated reporting practice: does internal assurance matter?.Managerial Auditing Journal,31(8/9), pp.915-948. Bagshaw, K., 2013.Audit and Assurance Essentials: For Professional Accountancy Exams. John Wiley Sons. Bedard, J.C., Cannon, N. and Schnader, A.L., 2014. The Changing Face of Auditor Reporting in the Broker-Dealer Industry.Current Issues in Auditing,8(1), pp.A1-A11. Chambers, A.D. and Odar, M., 2015. A new vision for internal audit.Managerial Auditing Journal,30(1), pp.34-55. Christensen, B.E., Glover, S.M. and Wood, D.A., 2012. Extreme estimation uncertainty in fair value estimates: Implications for audit assurance.Auditing: A Journal of Practice Theory,31(1), pp.127-146. Cohen, J.R. and Simnett, R., 2014. CSR and assurance services: A research agenda.Auditing: A Journal of Practice Theory,34(1), pp.59-74. Decaux, L. and Sarens, G., 2015. Implementing combined assurance: insights from multiple case studies.Managerial Auditing Journal,30(1), pp.56-79. Duncan, B. and Whittington, M., 2014, September. Compliance with standards, assurance and audit: does this equal security?. InProceedings of the 7th International Conference on Security of Information and Networks(p. 77). ACM. Hodge, S., 2014. The Use and Effectiveness of the Internal Audit Function on an External Audit.Available at SSRN 2430851. Knechel, W.R., 2016. Audit quality and regulation.International Journal of Auditing,20(3), pp.215-223. McDonald, P., 2014. The pursuit of business acumen: audit leaders can help their staff adopt a more business-minded focus and successfully transition from traditional assurance work to advisory and consultative services.Internal Auditor,71(6), pp.36-41. Pitt, S.A., 2014.Internal Audit Quality: Developing a Quality Assurance and Improvement Program. John Wiley Sons. Riedl, D.H. and Dunn, M.K., 2013. Quality assurance mechanisms for the unregulated research environment.Trends in biotechnology,31(10), pp.552-554. Shah, M. and Jarzabkowski, L., 2013. The Australian higher education quality assurance framework: From improvement-led to compliance-driven.Perspectives: Policy and Practice in Higher Education,17(3), pp.96-106. Shah, M. and Nair, C.S. eds., 2013.External Quality Audit: Has it Improved Quality Assurance in Universities?. Elsevier. Wisniewski, S., 2013. From compliance to the bottom line: internal audit has much to gain from investing in technologies for assurance mapping, expanding audit coverage, and data analytics.Internal Auditor,70(5), pp.21-23.

Friday, November 29, 2019

Missing (1982) Film Review Essay Example

Missing (1982): Film Review Essay Missing is a classic American Drama film, released in the year 1982. The film is directed by Costa Gavras and it stars Jack Lemmon, Sissy Spacek and Melanie Mayron in lead roles, ably supported by John Shea and Charles Cioffi. The film is produced by Edward Lewis and Mildred Lewis; its script is handled by Donald Stewart and Costa Gavras. The music (which received wide appreciation), was composed by innovative Greek composer Vangelis. Distributed by Universal Pictures, the film runs to two hours. The script is based on the true story of an American scribe Charles Horman, whose mysterious disappearance in the wake of the Chilean coup of 1973 sets up the crux of the narrative. In this US supported coup, incumbent President Salvador Allende was overthrown by Right-wing forces and the military. At the time of its release, the film attracted controversy due to its honest handling of political realities. Although Chile was never directly referred to in the film, the mention of major cities like Vina del Mar and Santiago surely gives away the identity of the country. Since it portrayed the United States of America in a negative cast, it met with stringent criticism in the Western press. Since the film is an adaptation of a real life story, it contains elements of both drama and documentary genres. We will write a custom essay sample on Missing (1982): Film Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Missing (1982): Film Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Missing (1982): Film Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Barring the controversies and lawsuits that it attracted, the film is a successful product overall. Director Costa Gavras’s chief intention in the film is not so much to make political statements as it is to convey the human drama surrounding the disappearance of journalist Charles Horman. The script closely adheres to the factual details presented in the original book verstion of the name, ‘The Execution of Charles Horman: An American Sacrifice’ first published in 1978. There are hints left by the director that the indifference of the American government in taking swift search and rescue operation had perhaps caused his ultimate demise. Such an assessment certainly did not go down well with officials in Washington D.C., it triggered a debate in media outlets across the country. The film also shows the nature of major bureaucracies and how they can frustrate and disappoint legitimate concerns of citizens. The father and mother of the missing journalist, played by Jack Lemmon and Sissy Spacek respectively, deliver a stand out performance in depicting their anxieties and apprehensions in the wake of their son’s sudden disappearance. It was Beth Horman, who first makes a vain attempt by contacting the American consulate in the hope of locating her son’s whereabouts. Later, Charles travels all the way to New York to persuade the authorities to pursue their son’s case. In the end, it turns out that Beth’s sceptical attitude with authorities and government institutions is closer to truth than that of Charles’. The latter, for example was shown to be naive in trusting official utterances and promises. Their unsuccessful search to locate and rescue their son makes the story a tragedy. But credit has to be given to director Gavras in not stretching a genuine tragedy into a melodrama. The film also implicitly exposes the powerlessness of individual citizens in a population in dealing with major governmental institutions. Individuals confronting personal losses easily grow disgruntled with their own governments. And the United States is shown to be no exception to this rule, as both Beth and Charles find it near impossible to get their requests heeded. The fact that Charles Horman was ‘executed’ Chilean authorities with the complicity of American diplomats validates citizens’ grievances against governments. As movie reviewer Vincent Canby notes in his article for the New York Times, â€Å"It is the belief of Mr. Costa-Gavras, as well as of Thomas Hauser, the lawyer who wrote the book on which the film is based, that young Mr. Horman was executed by Chilean authorities, probably with the tacit approval of some United States representatives on the scene, because he had knowledge of United States involvement in the military coup that had overthrown the Marxist government of Dr. Salvador Allende Gossens, the Chilean President† (Canby, 1982) It is a genuine reflection of the merit of the film that it was nominated under several categories in the year’s Academy Awards. It rightly won the award for best Writing Adapted Screenplay and richly deserved nominations in Best Actor (Jack Lemmon), Best Actress (Sissy Spacek) and Best Picture categories. More importantly, it on the Golden Palm award in Cannes Film Festival of the same year. The other technical aspects of the film, such as cinematography or editing are nearly not as perfect. But the strong script line and emphasis on right areas compensate for these small shortcomings. Works Cited: Movie Review, Missing (1982), NYT Critics’ Pick, ‘MISSING’ BY COSTA-GAVRAS’ By VINCENT CANBY, Published: February 12, 1982, retrieved from on 25th June, 2011 Missing (1982), A review by Damian Cannon., Copyright  © Movie Reviews UK 1997, retrieved from on 25th June, 2011

Monday, November 25, 2019

Best Analysis Eyes of TJ Eckleburg in The Great Gatsby

Best Analysis Eyes of TJ Eckleburg in The Great Gatsby SAT / ACT Prep Online Guides and Tips In The Great Gatsby, in the middle of a strange, gray landscape, hovers a giant billboard of eyes without a face- the eyes of Doctor T.J. Eckleburg. It's a creepy image, and the fact that several characters seem disturbed by it means that it is very significant in the novel. But did you know that F. Scott Fitzgerald didn't make up this advertisement? If you image search "oculist shop sign," you'll see that this disembodied eyes thing was a pretty standard way to advertise places that sold glasses! So how does The Great Gatsby transform what would have a reasonable everyday image into a sign of the macabre? And why does this billboard affect the characters who see them so much? In this article, I'll talk about the places where the eyes of Dr. T.J. Eckleburg are mentioned in the novel, explain their symbolic meaning, connect them with the novel's themes and characters, and also give you some jumping-off points for writing essays. Quick Note on Our Citations Our citation format in this guide is (chapter.paragraph). We're using this system since there are many editions of Gatsby, so using page numbers would only work for students with our copy of the book. To find a quotation we cite via chapter and paragraph in your book, you can either eyeball it (Paragraph 1-50: beginning of chapter; 50-100: middle of chapter; 100-on: end of chapter) or use the search function if you're using an online or eReader version of the text. What Are the Eyes of Dr. T.J. Eckleburg in The Great Gatsby? Before delving into the deeper meaning of this image, let's get a general idea of what this object is. In the middle of Queens, along the road the characters take to get from West Egg to Manhattan, near George Wilson's garage, there is a billboard. The billboard is an ad for an optometrist (called an "oculist" in the 1920s). The image on the ad is a pair of giant disembodied blue eyes (each iris is about a yard in diameter), which are covered by yellow spectacles. The rest of the face isn't pictured, and the billboard is dirty with paint that has faded from being weathered. Key Quotes About the Dr. T.J. Eckleburg Eyes Before we can figure out what the eyes mean as a symbol, let's do some close reading of the moments where they pop up in The Great Gatsby. Chapter 2 The first time we come across Dr. T.J. Eckleburg and his eerie eyes, we are in the midst of a double whammy of terribleness. First, Nick has just described Queens as a depressing, crumbling "valley of ashes" that is "grotesque" and "desolate" (2.1). Second, Tom is about to introduce Nick to Myrtle Wilson, his married mistress. But above the grey land and the spasms of bleak dust which drift endlessly over it, you perceive, after a moment, the eyes of Doctor T. J. Eckleburg. The eyes of Doctor T. J. Eckleburg are blue and gigantic- their retinas are one yard high. They look out of no face but, instead, from a pair of enormous yellow spectacles which pass over a nonexistent nose. Evidently some wild wag of an oculist set them there to fatten his practice in the borough of Queens, and then sank down himself into eternal blindness or forgot them and moved away. But his eyes, dimmed a little by many paintless days under sun and rain, brood on over the solemn dumping ground†¦ I followed [Tom] over a low white-washed railroad fence and we walked back a hundred yards along the road under Doctor Eckleburg's persistent stare... "Terrible place, isn't it," said Tom, exchanging a frown with Doctor Eckleburg. (2.1-20) Just like the quasi-mysterious and unreal-sounding green light in Chapter 1, the eyes of Doctor Eckleburg are presented in a confusing and seemingly surreal way: Instead of simply saying that there is a giant billboard, Nick first spends several sentences describing seemingly living giant eyes that are hovering in mid-air. Unlike the very gray, drab, and monochrome surroundings, the eyes are blue and yellow. In a novel that is methodically color-coded, this brightness is a little surreal and connects the eyes to other blue and yellow objects. Moreover, the description has elements of horror. The "gigantic" eyes are disembodied, with "no face" and a "nonexistent nose." Adding to this creepy feel is the fact that even after we learn that the eyes are actually part of an advertisement, they are given agency and emotions. They don't simply exist in space, but "look out" and "persistently stare," the miserable landscape causes them to "brood," and they are even able to "exchange a frown" with Tom despite the fact that they have no mouth. It's clear from this personification of an inanimate object that these eyes stand for something else- a huge, displeased watcher. Chapter 7 The second time T.J. Eckleburg's eyes appear, Tom, Nick, and Jordan are stopping at Wilson's garage on their way to Manhattan to have it out with Daisy and Gatsby. We were all irritable now with the fading ale and, aware of it, we drove for a while in silence. Then as Doctor T. J. Eckleburg's faded eyes came into sight down the road, I remembered Gatsby's caution about gasoline†¦.That locality was always vaguely disquieting, even in the broad glare of afternoon, and now I turned my head as though I had been warned of something behind. Over the ashheaps the giant eyes of Doctor T. J. Eckleburg kept their vigil but I perceived, after a moment, that other eyes were regarding us with peculiar intensity from less than twenty feet away. In one of the windows over the garage the curtains had been moved aside a little and Myrtle Wilson was peering down at the car. (7.136-163) This time, the eyes are a warning to Nick that something is wrong. He thinks the problem is that the car is low on gas, but as we learn, the real problem at the garage is that George Wilson has found out that Myrtle is having an affair. Of course, Nick is quickly distracted from the billboard's "vigil" by the fact that Myrtle is staring at the car from the room where George has imprisoned her. She is holding her own "vigil" of sorts, staring out the window at what she thinks is the yellow car of Tom, her would-be savior, and also giving Jordan a death stare under the misguided impression that Jordan is Daisy. The word "vigil" is important here. It refers to staying awake for a religious purpose, or to keep watch over a stressful and significant time. Here, though, both of those meanings don't quite apply, and the word is used sarcastically. The billboard eyes can't interact with the characters, but they do point to- or stand in for- a potential higher authority whose "brooding" and "caution" could also be accompanied by judgment. Their useless vigil is echoed by Myrtle's mistaken one- she is vigilant enough to spot Tom driving, but she is wrong to put her trust in him. Later, this trust in Tom and the yellow car is what gets her killed. Chapter 8 Our last visit to the eyes happens during a private moment between the coffee shop owner Michaelis and George Wilson. Since Nick isn't actually there, this must be Nick's version of Michaelis's testimony to the police after the murder-suicide. "Have you got a church you go to sometimes, George? Maybe even if you haven't been there for a long time? Maybe I could call up the church and get a priest to come over and he could talk to you, see?" "Don't belong to any." ... Wilson's glazed eyes turned out to the ashheaps, where small grey clouds took on fantastic shape and scurried here and there in the faint dawn wind. "I spoke to her," he muttered, after a long silence. "I told her she might fool me but she couldn't fool God. I took her to the window" With an effort he got up and walked to the rear window and leaned with his face pressed against it, "and I said 'God knows what you've been doing, everything you've been doing. You may fool me but you can't fool God!' " Standing behind him Michaelis saw with a shock that he was looking at the eyes of Doctor T. J. Eckleburg which had just emerged pale and enormous from the dissolving night. "God sees everything," repeated Wilson. "That's an advertisement," Michaelis assured him. Something made him turn away from the window and look back into the room. But Wilson stood there a long time, his face close to the window pane, nodding into the twilight. (8.72-105) Here, finally, the true meaning of the odd billboard that everyone finds so disquieting is revealed. To the unhinged George Wilson, first totally distraught over Myrtle's affair and then driven past his breaking point by her death, the billboard's eyes are a watchful God. Wilson doesn't go to church, and thus doesn't have access to the moral instruction that will help him control his darker impulses. Still, it seems that Wilson wants God, or at least a God-like influence, in his life- based on him trying to convert the watching eyes of the billboard into a God that will make Myrtle feel bad about "everything [she's] been doing." In the way George stares "into the twilight" by himself, there is an echo of what we've often seen Gatsby doing- staring at the green light on Daisy's dock. Both men want something unreachable, and both imbue ordinary objects with overwhelming amounts of meaning. So in the same way Myrtle couldn't see the truth above, this lack of a larger moral compass here guides George (or at least leave him vulnerable) to committing the murder/suicide. Even when characters reach out for a guiding truth in their lives, not only are they denied one, but they are also led instead toward tragedy. The characters have no access to any of these. The Meaning and Significance of the Eyes of Dr. T.J. Eckleburg in The Great Gatsby In the world of The Great Gatsby, there is no moral center. Every character is shown to be selfish, delusional, or violent. Even Nick, who, as our narrator, is ostensibly meant to reflect on who is good and who is bad, turns out to be kind of a misogynist bigot. It's not surprising that none of these characters is shown to have faith of any kind. The closest any of them come to being led by an outside force, or voice of authority, is when Tom seems swayed by the super racist arguments of a book about how minorities are about to overwhelm whites. So it makes sense that Nick, whose job it is to watch everyone else and describe their actions, pays attention to something else that seems to also be watching- the billboard with the eyes of Doctor T.J. Eckleburg. The billboard watches the site of the novel's biggest moral failures. On a more local level, the garage is the place where Daisy kills Myrtle. But on a bigger scale, the "ash heaps" of Queens show what happens to those who cannot succeed in the ambitious, self-serving, predatory world of the Roaring 20's that Fitzgerald finds so objectionable. The problem, of course, is that this billboard, this completely inanimate object, cannot stand in for a civilizing and moral influence, however much the characters who notice it cower under its gaze. Tom frowns when he feels himself being watched, but this feeling does not alter his actions in any way. Wilson wants Myrtle to be shaken up by the idea of this watcher, a God-like presence that is unfoolable, but she is also undeterred. Even Wilson himself, who seems to feel the billboard is some kind of brake on his inner turmoil, is easily persuaded that it's just "an advertisement," and so nothing stands in the way of his violent acting out. Like Gatsby, who is also compared to "the advertisement of the man" (7.83), the billboard is a sham representation of a deeper idea. People want to read God or at least an overseeing presence into it, but, in the end, they are simply externalizing their anxiety about the moral vacuum at the center of their world. Not quite the kind of vacuum we're talking about here. Characters, Themes, Motifs, and Symbols Connected to the Eyes of Doctor T.J. Eckleburg Nick Carraway. Nick is the first to notice the billboard and describe it as a watchful presence. He finds it a discomfiting cap on the misery and desolation of the "ash heaps" that separate Long Island from Manhattan. In a way, the billboard does what Nick could never do- be a completely impartial, completely objective observer of the events around it. George Wilson. George seems to conflate the eyes of T.J. Eckleburg with his idea of an ever-present, all-seeing God. He reveals to Michaelis that part of his reaction to Myrtle's affair was to try to make her be afraid of a God who is watching her every move like the billboard does. In the end, after he seems completely unhinged by Myrtle's death, George stares at the billboard in the same way that Gatsby stares at the green light at the end of Daisy's dock. It's possible to conclude that when Michaelis tells George that the eyes are just an advertisement, he removes the last barrier preventing George from acting out his violent intention. Morality and Ethics. The values of the world within the novel seem to simply be: get whatever you want for yourself, as much as you can, in any way you can, and don't get caught. No one has an internal moral compass, and there is no external one either apparently. The eyes of TJ Eckleburg come closest to being an external motivator for characters to at least consider the morality of their actions, as they squirm and become uncomfortable under the eyes' gaze. Money and Materialism. The billboard is there in the first place as an advertisement, and thus also reflects the huge capitalist influence in everyone's lives. The real reason that there is no moral or ethical underpinning to the lives of these characters is that their world is based on a greedy, money-based notion of success. Even the object that is the closest thing to a religious figure is in reality trying to compel those who see it to buy something and make someone else richer. The Valley of Ashes. The billboard of the eyes of T.J. Eckleburg is located in the middle of what Nick calls "the valley of ashes"- the industrial section of Queens that connects the rich neighborhoods of the Eggs on Long Island and the similarly booming Manhattan. That the eyes watch over this neighborhood in particular is an indictment of the way those who can't claw their way to the top get left behind in the lawless Wild East, shaming those passing through who are taking advantage of the hard work of the poor. What makes the world of The Great Gatsby go around. Essay Ideas and Tips for Writing About the Eyes of Doctor T. J. Eckleburg Now that we've discussed the significance of the billboard advertising the oculist Doctor Eckleburg, let's figure out the best way to approach this symbol in an essay. Writing Tips Here are some tips for how to write an essay about the role of a symbol in a novel: Build from the text out. In this article, I first looked at the eyes in context and discussed the billboard's meaning in the exact places where it appears, and only afterward wrote about their general significance in the novel. Keep the same system in mind for your own essay: progress from small ideas to big ones to bolster your argument. Make an argument. It's not enough to just describe the symbol and explain its possible meanings. Instead, you have to make sure that you're making some kind of point about why/how the symbol works. How do you know if you're making an argument and not just saying the obvious? If you can imagine someone arguing the opposite of what you're saying, then you've got an argument on your hands. Don't overthink it. Sure, the billboard's giant eyes can be said to represent lots of things: God, moral failings, or the lack of ethical oversight on the East Coast. But that doesn't mean that it also stands for Gatsby's father, the freedom of sailing, or Daisy's childhood. In other words, watch out for stretching your symbol analysis too far from what the text is telling you. Essay Ideas Here are some possible essay arguments. You can build from them as-is, argue their opposite, or use them as jumping-off points for your own interpretation. What Wilson really wants when he's staring at the eyes of Doctor T.J. Eckleburg is the kind of intervention that a third-person narrator would normally provide: someone to punish the bad characters and reward the good ones. Because there's no supervising authority like that in the novel, Wilson takes justice into his own hands. The problem isn't that there aren't any moral rules in the world of the novel, but that everyone is so flawed that it would be impossible to figure out who is right and who is wrong. That's why the only appropriate God figure is an inanimate object. The eyes are placed on the road between Manhattan and West Egg rather than in one of those places because this road is a place where characters could make different choices, and where they can make the decisions that affect their lives in either one of those destinations. Who has the most options in the novel? Who has the least? The Bottom Line The Eyes of Doctor T.J. Eckleburg is a billboard advertising an oculist that features a pair of giant disembodied blue eyes covered by yellow spectacles. The eyes pop up in: The beginning of Chapter 2, when Nick's personification of the inanimate eyes implies that they represent a huge, displeased watcher or the characters' moral failures. In the middle of Chapter 7, when the eyes are a warning to Nick, who perceives them as an image of a higher authority sitting in judgment. In the middle of Chapter 8, when Michaelis's explanation that the billboard isn't actually God releases the violence Wilson has been holding in check. The oculist's billboard and its creepy eyes watch over a world without a moral center, where every character is shown to be selfish, delusional, or violent, and it is positioned on the site of the novel's biggest moral failures. This billboard, a completely inanimate object, cannot stand in for a civilizing and moral influence, however much the characters want to read God or at least an overseeing presence into it. The Eyes of Doctor Eckleburg are associated with: Nick Carraway, who notices it because the billboard does what Nick could never do- be a completely impartial, completely objective observer of the events around it. George Wilson, who conflates the eyes of T.J. Eckleburg with his idea of an ever-present, all-seeing God. Morality and ethics, which don't exist in a world where the rules are: get whatever you want for yourself, as much as you can, in any way you can, and don't get caught. The Valley of Ashes, an industrial neighborhood that is an indictment of the way those who can't claw their way to the top get left behind in the lawless Wild East. Money and materialism, since the billboard reflects the huge capitalist influence in everyone's lives. What's Next? Refresh your memory of the chapters where this symbol appears: Chapter 2, Chapter 7, and Chapter 8. Compare and contrast Tom and George to see why they react to the billboard's unsettling eyes in such different ways. Consider the location of the billboard by reading about the valley of ashes and the other settings in the novel. Check out all the other symbols that enrich The Great Gatsby. Want to improve your SAT score by 160 points or your ACT score by 4 points? We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Thursday, November 21, 2019

The Causes of the Financial Crisis in 2008 Essay

The Causes of the Financial Crisis in 2008 - Essay Example It played a striking role in the failure of key businesses. It also contributed to the decrease in consumer wealth estimated to be in trillions of US dollars and a downturn in economic activities that led to global recession of 2008 – 2012 and also contributed to the European sovereign – debt crisis. It led to the increase of the TED spread that reflected an increase in perceived credit risk. The TED spread is the difference between rates of interest on interbank loans and on short – term U.S government debt. The spread of TED increase is shown in the graph below: The spread (in red) increases significantly during the crisis. The spread size is usually denominated in basis points e.g. if the bill rate (T - bill) is 5.1% and ED trades at 5.5% then the TED spread is 40 basis points. The TED spread has fluctuated over time but generally has maintained the range of within 10 and 50 basis points except during the financial crisis. In general the financial crisis cause d a very big damage to the world economy and many researchers have carried out studies to explain the causes of this crisis. We try to look into some of the causes below. Imprudent mortgage lending is considered a cause to the crisis as compared to a backdrop of abundance in credit, reduced interest rates, and over the roof prices for houses, lending standard became hassle free enabling many people to engage in the purchase of houses they couldn’t afford. ... Competitive pressures contributed to the increase in the amount of subprime lending during the years preceding the crisis. Source: U.S census bureau, Harvard University. State of the nation’s housing report 2008 The graph shows the dramatic expansion of subprime lending in the U.S between 2004 and 2006. Another cause was the housing bubble where the Federal Reserve allowed housing prices to sour to an all-time high that was unsustainable. Once the bubble burst as it was bound to, it triggered the crisis. The Federal Reserve maintained interest rates artificially low, per month payments to mortgage were low too and housing prices went up. Home owners took equity loans to pay their initial mortgages and credit card debts until the home prices peaked and the house of cards started to crumble. Mortgage debts would not be increased to pay previous debts. Lack of transparency and accountability in mortgage financing also did contribute to the 2008 financial crisis. Many participants in the housing finance sector contributed to the crisis through the creation of bad mortgages and selling of bad securities with confidence that they won’t be held accountable. Lenders would sell exotic mortgages to home owners without considering the repercussions in case the mortgages failed. Similarly, a trader would sell to investors’ securities that are toxic with fear of personal responsibility in case the contracts failed. The system collapsed through the maximization of personal gains and passing of the problem down the chain from brokers, to realtors, to individuals in rating agencies, and to other market participants. The great promise of managing risk by the ‘originate – to – distribute’ model of finance failed with