The Evolution of Engineering Free Essays

It’s no secret that technology has not only changed life as we know it, but has also changed the face of most every career field known to man.   Nowhere is this evolution more evident than in the field of engineering.   In order to better review the impact that advancements in technology have had on the field of engineering, exploration of past versus present comparison is necessary. We will write a custom essay sample on The Evolution of Engineering or any similar topic only for you Order Now    Upon reviewing the variations between engineering of the past and engineering of present, the dramatic involvement of technology in the field becomes inherently evident. Over the course of the last two decades, the field of engineering has come into its own.   One major component of the ‘new and improved’ field of engineering is the utilization of modern technology.   In fact, engineering itself is considered a frontier of development in modern technology itself.   â€Å"Scientific discovery and advancement affect our lives in two different ways—through new policies and regulations that provide broad national direction and through new products and processes that enhance our lives and communities. Technology and engineering translate scientific knowledge into action.† (USDA 2007) Engineering, in the 1980s, was a field wherein the predominant research and development process surrounded countless instances of trial and error.   Due in part to the fact that all experimentation and designed was based solely on human ability and human ideas, engineering was primarily considered a ‘thinking man’s’ career choice.   For example, in the early 1980s, when mechanical engineers designed motor vehicles, much of their design was dependant on tangible models and hand drawn blueprints.   Today, on the other hand, computer technology allows for the use of computerized 3D models and AutoCAD architecture.   This same fact holds true for not only the vehicle industry, but the building industry, property development, and many more. Upon close examination of the implications of technology on engineering, it is revealed that this phenomenon began far earlier than many believe.   In fact, students at Virginia Tech have been required to own a personal computer since the year 1984.   However, improvements in computer technology have dramatically improved engineering accuracy and performance, have increased efficiency, and have made it possible for a wider variant of individuals to enter the engineering field.   â€Å"In terms of the difficulty level of problems, the computer has helped tremendously. In the pre-computer era, we’d spend a couple of weeks on a serious problem. Now it can be done overnight. In terms of the actual mode of teaching, we present less hand-calculation procedures than in previous times. It’s just not needed.† (EE/CPE VanLandingham 97) A variety of modern technologies have added to the dynamics of the engineering field.   However, it is arguable that computer advancements have affected the field more than any other.   Because much of engineering is design, the use of computers as a design tool is prevalent.   Thanks to the precision and speed offered by the use of certain computer programs during the engineering design process, problems that once seemed impossible are now considered trivial.   â€Å"Students can do design and some calculations that were real tough to do before.   â€Å"We use computers a lot in the lab to take data and analyze data off the equipment. Most research projects take data using computers, and our folks have to know how to write programs and microprocessor code.† (EE/CPE Claus 97) Experts also agree that the integration of computers into the field of engineering have made the job more ‘fun’.   Computers allow engineers to heighten levels of creativity in their work while allowing for less stress in problem solving.   In short, engineers can now focus more heartily on the creative aspects of their project because they spend less time in problem solving. Interestingly though, the speculation surrounding technological and computer advancements in the field of engineering is not all positive.   There are many people who believe that the overt use of computers in the field of engineering provides engineers with a crutch that allows for less thorough problem examination.   It is also argued that engineers become ‘lax’ in analysis because they trust computers to be accurate.   The problem with this fact is that computers are not infallible.   If one data set is entered incorrectly, the entire analysis will be incorrect.   Basically, computers should moreover be used to verify analysis as opposed to actually perform the analysis itself. Many engineering professors and argue that the overuse of computers will promote carelessness in the field.   Ã¢â‚¬Å"I see students relying too much on computers, computation programs and symbolic manipulators – which is leading them away from self-discipline.   â€Å"They are using tools and have no way to check them. They come up with an answer on the computer and don’t know enough to challenge their answer. They are using tools and have no way to check them. They come up with an answer on the computer and don’t know enough to challenge their answer. They figure if the computer came up with the answer, it’s got to be right.† (EE/CPE Brown 97) There is also evidence the integration of computer technology in engineering will ‘kill’ programming in the field.   Because of the incredible technology and dynamic computer programs available to engineers as a whole, there is a decreased need for new programming.   Certain computer programs offer engineers ‘ready to use’ packages for problem solving, which eliminates the need for writing code in problem solving.   The question as to whether or not this is a ‘good thing’ is perhaps most prominent in engineering education.   ‘†Technology as the magic bullet for education is being vastly oversold,† cautioned Professor Jim Armstrong. â€Å"We can use the computers for computation and communication, but we must maintain the interpersonal aspect of teaching,†Ã¢â‚¬â„¢ (EE/CPE 97) The integration of modern technology and the integration of computers in particular, into the field of engineering has changed the face of all engineering disciplines as we know it. It is largely agreed that these advancements have improved the field of engineering in ways never before thought possible.   However, it is pertinent to note that not every implementation or change is considered beneficial. While, for the most part, computers and technology have only improved engineer problem solving and efficiency, it is also argued that these integrations have given birth to the ‘lazy’ engineer.   In fact, there are those who believe that today’s engineer is already considered lax because they now have the computer to do the work for them.   â€Å"Engineers are lazy. Engineers don’t like to work hard and like to come up with ways to make their lives easier† (iPaw 2009) This view creates a paradox for many, because the very definition of innovation is the search for ways to make life more simple. In summation, modern technology and computer advancement has made the field of engineering more exciting for those engaged.   It has also allowed for more a more variant professional base within the field.   However, perhaps the most notable change in the field that comes as a direct reflection of computer advancement is the increase in the speed and efficiency with which engineers solve an assortment of problems.   This increased efficiency allows for a more rapid development of a product or and outcome and also allows for a heightened opportunity to concentrate on creativity and design.   Basically, computers and modern technology make the field of engineering more fun. While it must be acknowledged that not all views surrounding computer advancement and engineering are possible, it is widely accepted that computers have drastically improved every discipline of engineering while also acting as a catalyst behind creative engineering and innovation. From a personal perspective, we have entered the dawn of a new engineering age.   The field of engineering is rapidly becoming as much an art as it is an analytical career field.   This advancement and innovation is solely credited to the integration of modern technology into the engineering disciplines.   In the last five years, computer technology has taken not only engineering, but every career to new and exciting levels.   From the farmer to the fighter pilot, computer technology has changed the dynamic of ‘work’ as we know it, and nowhere is this truth more evident than in the field of engineering. Works Cited â€Å"Catspaw’s Guide to the Inevitably Insane.† Catspaw’s Guide to the Inevitably Insane. 29 Apr. 2009 http://www.insanecats.com/cgi-bin/single.py?month=feb09msg=18. â€Å"Computers and Engineering: Instructional Boon or Crutch?.† Virginia Tech | Electrical and Computer Engineering. 29 Apr. 2009 http://www.ece.vt.edu/ecenews/ar97/boon.html. Govil, Rekha. Recent Advancements in Computer Science and Technology. new york: Allied Publishers Pvt. Ltd., 1999. â€Å"Technology Engineering.† Cooperative State Research, Education, and Extension Service (CSREES). 29 Apr. 2009 http://www.csrees.usda.gov/nea/technology/technology.cfm. Fundamental Concepts in Computer Science (Advances in Computer Science and Engineering: Texts). London: Imperial College Press, 2009. How to cite The Evolution of Engineering, Essay examples

Factors That Influence Perception free essay sample

The first part of our perception involves the things that grab our attention or that keep our attention. There are intensities to events in life that get our attention right away, for example. When something effects our senses of sight, sound, color or taste in a big way, we pay attention or become attracted to getting more, getting involved,  getting less or getting away. There are repetitive events and statements that get past our biases and filters to eventually grab our attention in subtle ways. Then, there are events and statements that we disagree with, either strongly or subtly when they are repeated again and again.Finally, with attention, we have biases that work for ourselves. When we disagree, we are right and the other is wrong. We are primarily responsible for our accomplishments while other people  or other things are primarily responsible for contributing to our mistakes. After our attention is gained, however, there are factors that directly affect our perception in interpersonal behavior and relationships. We will write a custom essay sample on Factors That Influence Perception or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If we are satisfied and happy with a person, we are going to take in their messages differently than if we are dissatisfied or unhappy with a person. If racial and gender bias, for example is involved, we are inclined to take peoples messages differently than if we are racially and gender tolerant. We can be more favorable to the messages of a person when we desire more or prolonged involvement with a person. With the racial and gender bias example, we can have our desire set in place by our preconceptions and biases, which in turn affects how favorably or unfavorably we react to their messages, which include verbal and non verbal communication. Past experiences and expectations will influence our perceptions.With the race and gender example, if there have been successful working, school or other relationships in institutions that have a culture of working together, then there are greater odds that an individuals qualities,  behavior and  messages are more inclined to be initially evaluated on their merits, rather than on preconceptions. If there has been lifelong aversion and segregation, then there are fewer odds that an ind ividuals qualities,  behavior and message will be evaluated on its merits. Our cultures and self perceptions influence the way in which we percieve things. If we have low self images that come from cultural or family factors, then we might filter or bias our perceptions in a far more negative or restrictive,  I cant have this or I should not be interested in this  way than if we have good self images. Our knowledge, education and  skills for taking in information and sensual experiences will affect our perceptions. Everything from knowing that we are allergic to certain things to having knowledge that a new physical entity can be examined by a set of scientific principles can determine how we take in information and handle it.But when there is a disparity between knowledge and education, there may be vast differences in perception. The allergic  indivudal might not want to hear about a dish that had the offending ingredient in it. The scientist might not be able to reduce the special qualities of a rock  for a lay persons understanding. Perceptions are also affected by our advanced abilities of empathy, our need to rationalize or show concern and our other emotional and even physiological responses to events and messages. One interesting new phenomenon, given  that many  humans are conditioned by  lifelong exposure to advertising, labeling and branding, is the new marketing schemes that focus on mass creations of  perceptions. These  schemes, using social networking and other internet functions go  to the point of planting or creating  perceptions that are false or that are skewed to make products and corporations look better than they are. This goes beyond false advertising and tends toward actually creating belief sets, life plans and desires  and belief systems that favor the advertising or even political  entity.

Snow White and the Seven Dwarfs free essay sample

Once upon a time in a great castle, a Princes daughter grew up happy and contented, in spite of a jealous stepmother. She was very pretty, with blue eyes and long black hair. Her skin was delicate and fair, and so she was called Snow White. Everyone was quite sure she would become very beautiful. Though her stepmother was a wicked woman, she too was very beautiful, and the magic mirror told her this every day, whenever she asked it. Mirror, mirror on the wall, who is the loveliest lady in the land? The reply was always; You are, your Majesty, until the dreadfulNight came, but the servant did not return. Snow White, alone in the dark forest, began to cry bitterly. She thought she could feel terrible eyes spying on her, and she heard strange sounds and rustlings that made her heart thump. At last, overcome by tiredness, she fell asleep curled under a tree. We will write a custom essay sample on Snow White and the Seven Dwarfs or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Snow White slept fitfully, wakening from time to time with a start and staring into the darkness round her. Several times, she thought she felt something, or somebody touch her as she slept. At last, dawn woke the forest to the song of the birds, and Snow White too, awoke.A whole world was stirring to life and the little girl was glad to see how silly her fears had been. However, the thick trees were like a wall round her, and as she tried to find out where she was, she came upon a path. She walked along it, hopefully. On she walked till she came to a clearing. There stood a strange cottage, with a tiny door, tiny windows and a tiny chimney pot. Everything about the cottage was much tinier than it ought to be. Snow White pushed the door open. l wonder who lives here? she said to herself, peeping round the kitchen. What tiny plates!And spoons! There must be seven of them, the tables laid for seven people. Upstairs was a bedroom with seven neat little beds. Going back to the kitchen, Snow White had an idea. Ill make them something to eat. When they come home, theyll be glad to find a meal ready. Towards dusk, seven tiny men marched homewards singing. But when they opened the door, to their surprise they found a bowl of hot steaming soup on the table, and the whole house spick and span. Upstairs was Snow White, fast asleep on one of the beds. The chief dwarf prodded her gently. But they warned Snow White not to open the door to strangers. Meanwhile, the servant had returned to the castle, with the heart of a roe deer. He gave it to the cruel stepmother, telling her it belonged to Snow White, so that he could claim the reward. Highly pleased, the stepmother turned again to the magic mirror. But her hopes were dashed, for the mirror replied: The loveliest in the land is still Snow White, who lives in the seven dwarfs cottage, down in the forest. The stepmother was beside herself with rage. She must die! She must die! she screamed.

conflict in romantic relationships essays

conflict in romantic relationships essays Spanking a child is a controversial issue. On one side of the debate are people who believe spanking is a necessary component of parenting. On the contrary are people who think spanking a child is destructive. Somewhere in the middle are people who believe spanking is legitimate only when used correctly. Part of the reason for the debate is that some parents and experts define spanking differently. To some, spanking means slapping a child on the rear-end, while others believe it is a form of corporal punishment that does not cause injury. By showing how each perspective of spanking supports their claim and defining spanking, one will be able to form an opinion. In order to conclude an argument, it is first necessary to define any vague or ambiguous terms. Spanking is an unclear term in need of explanation. To some spanking means to slap a child on the buttocks, while others believe it is a mild form of corporal punishment that does not cause harm to the child. The American Academy of Pediatrics (AAP) defines spanking as "one or two flat-handed swats on a child's wrist or rear end" (Rosellini 52). The New American Webster Handy College Dictionary also agrees with the AAP when defining spanking as "[to] strike with an open hand." Spanking does not infer a sustained whipping from Dads belt, but a mild form of corporal punishment that does not cause injury. Spanking is alive and well today despite the anti-spanking prohibition. In a poll sponsored by Working Mother and the Epcot Center at Walt Disney World in Florida, 7,225 adults and 2,599 kids were surveyed (Hickey 48). When asked, "When should parents spank their children," 51 percent replied "When they think it's necessary," 30 percent said "Only in extreme circumstances," and only ten percent answered "Never"(Hickey 48). Twelve percent of young adults, ages 18 to 34, which responded to the poll, said spanking should not occur; in comparison with the seven percent ...

Career Development Programs Support Retention

This paper attempts to explain the human resource best practices in a fashion company known as Pearl collections by analyzing the six stages of the employee lifecycle. These six steps include; recruitment & selection, orientation & onboarding, employee services, talent development & retention, performance management and transition. This essay will then examine how these cycle stages contribute to Pearl collections and also the implementation process.   Human resource best practices are one of the human resource management models pioneered by Pfeffer who advised when put into practice would improve the performance of an organization  (Pfeffer, 1998). Best practice according to Boxall and Purcell's, emphasizes the vitality of empowering an employee's ability through right staffing and training, offering strong financial incentives and providing an open and engaging environment where the employees can share ideas and participate.  (Purcell, 2003) It is important to understand that applying a few human resource best practices in one company, industry or corporate culture may not necessarily yield the same results or be the right practice in another. The methods highly depend on the demographic makeup of a company, size, resources available, socioeconomic factors, location, regulatory and legal environment. Understanding employees and what might engage them to perform better should is vital before implementing any strategy. The HR Reporter shares the culture of Zappos to be crazy in that they believe in having fun at work to the extent of asking employees to dress up as superheroes. The employees who are disengaged are paid to leave the company which may be a huge number as not everyone might be comfortable with it (Kreissl, 2013). At Carswell, a favorite activity that makes the workplace more fun is their annual ice cream day and this according to management is a fun little program that drives employee engagement. The culture at Zappos and Carswell when compared are entirely different, and various people might share both positive and negative feedback on them. These examples prove that not every policy, practice or program will work at every company hence the importance of internal and external analysis of the organization.  Ã‚  Ã‚   Recruitment and selection are the first stages of the employee lifecycle and are, therefore,     the foundations for human resource management. Pearl Collections pride itself to be an attractive employer that recruits locally whenever a boutique opens, one that cares about gender inclusivity, diversity, employee growth, health, and safety. During this stage the human resource manager analyzes the job, its role, creates a person specification which consists of the skills and qualifications required, experience, and comes up with a remuneration package. This process follows advertising, shortlisting and then selection of the preferred candidate while taking into consideration passion, attitude and behavior as the essential characteristics. To aid in recruitment, Pearl uses a few agencies who prescreen the candidates on the level of position, education, and skills. This process gives the company an upper hand regarding maximized exposure and increases the number of applicants for va rious positions. According to PRADA Group, the information collected during the selection process strictly relates to the authentication of the professional profile being sort, while respecting candidate's personal opinions  (PRADA, 2007). This open dialogue gives the applicant room to be open minded and share his/her views openly enabling the human resource department to get a comprehensive analysis. The second stage of the employee lifecycle is orientation & onboarding. PeopleAdmin shares that Onboarding is a process and orientation is an event and that a sound onboarding process spans from one to two years  (PeopleAdmin, n.d.). Pearl collections believe in carrying out successful orientation and onboarding processes as the transition ensures success on the candidate’s part which impacts on the company. Pearl is aware of the importance of enabling a candidate to reach his/her full potential hence carries out the orientation process accurately and concisely. The HR department issues the candidate with information on the company, appropriate forms, takes the candidate around to meet other agencies and promotes communication. The onboarding process conveys the brand, values, professional culture, product knowledge and sales techniques and expectations to the candidate and provides tools to aid in his or her productivity. To ensure employees are well taken care of, Rag & Bo ne has an HR team of six individuals which is fundamental to its growth strategy and research shows that they excel at recruitment with high-profit margins (Pike, 2015). Employee services as an employee life cycle stage are benefits offered to employees by employers to instill their loyalty and prevent them from leaving for greener grass. The fashion industry is known to rotate employees and to keep them from jumping ship; Pearl collections complies with the legal departments of all states, offers medical insurance, a life insurance plan, disability insurance, offer paternity and maternity leaves, holidays and sick leaves. As the company is keen on being relevant, it is planning to open a child care area in one of the spare rooms to enhance productivity and to also introduce a wellness program by offering reimbursable gym membership costs which could reduce health care costs through promotion of healthier lifestyles. At HUGOBOSS, healthcare is a significant factor, the company cafeteria follows a balanced nutrition plan, and the company has a fitness studio offering courses in back training and aerobics which increase staff retention rates (HUGOBOSS, 2012). Talent development & retention is the fourth employee cycle stage, and it is crucial to both engagement and the output of the company. Key elements of talent and leadership, development, strategies and best practices are key under this stage. Pearl endeavors to involve itself in talent development by continuously grooming and upgrading the employees by attracting the right staff, providing the latest technology, sensitizing them on how to excel, use of rewards and incentives, motivation, empowerment and offering career advancement opportunities. The company understands that high employee turnover is a problem hence the strategies aid in developing a sense of loyalty by investing in the employees. Rag and Bone has an employee-led development scheme which enables the employees to take charge of their development by providing tools and resources to get their employees thinking ahead about their careers and not waiting for their managers to develop them  (Pike, 2015). Performance management as the fifth employee cycle stage is strategic with the aim of ensuring employees are contributing positively to the objectives of the business using a range of HR activities and processes. Pearl has customer care indicators that are used to gauge employee performance standards. These indicators have a collection of customer surveys, focus group discussions and customer complaints. Pearl recognizes it gets successful when the relationship between managers and employees is one of fairness, trust, good communication and contains an open door policy to enable generation and utilization of ideas. Pearl is keen on fostering good performance management because it helps every staff; understand the path of the business and what it wants to achieve. The standards of performance required, everyone's role in helping the company accomplish its goals. Understand how they can develop their performance and contribute to the growth of the organization and also where there are performance problems and how to handle them. The PRADA group encourages management and employees to take up responsibilities, to work, win challenges and achieve corporate objectives. This entrepreneurial culture recognizes, promotes and rewards the pro-activeness of the individual and teamwork. This cultural contribution aid in the achievement of the company's strategy and adopting consistency and responsibility traits  (PRADA, 2007). The sixth employee life cycle is transition which is the process when an employee leaves a company on retirement, better opportunity, getting fired, being laid off or due to personal reasons. It is, therefore, the work of the HR to manage the transition process by ensuring the following all procedures and processes. Pearl's HR department has an employee development plan in place to aid in the smooth transition. This plan contains a list of the employee's pending projects with a step by step process detailing actions this individual will take to finish the tasks. The HR follows up with the employee in the days following the day of departure. A form is shared with the employee for him/her to share honest opinions on their views about the company, reasons for leaving and areas for improvement. The HR delegates the tasks that cannot be completed before the employee's departure to other employees either do it or manage it until they hire a replacement. According to Forbes, Ron shares an e vent where a senior manager, unannounced and fired his employee and directed all his questions to the HR who at the time was ill prepared. This manager had for the last six months given the employee positive feedback and claimed his firing grounds on the lack of teamwork. This behavior as Ron further explains probably generated a major lawsuit and he calls it an extreme example (Ashkenas, 2013).  Ã‚   In conclusion, human resource best practices are one of the most dominant ways for a business to ensure the creation of value for the customers especially at Pearl collections and our profitability. The apparel industry is highly dominated and competitive, and by putting into place the six stages of the employee lifecycle, our relevance reinforces our strategic position. Pearl's measurement of success relies on low employee turnover, employee satisfaction, enhanced performance, career growth, increased responsibility, high levels of customer service, competency, high profits, improved morale, access to information, communication, self-improvement and existence of development programs just to name a few. In the future, Pearl collections are determined to continue offering fashionable items at quality prices and expand by opening more boutiques in various countries as our profitability and growth are on track. Boxall, P., & Purcell, J. (2003).  Strategy and human resource management  (1st ed.). London: Palgrave Macmillan Education. Code of Ethics  (1st ed.). Retrieved from https://www.pradagroup.com/documents/governance/code_of_ethics_en.pdf Fashion Companies Need to Rethink Their HR Function.  The Business of Fashion. , from https://www.businessoffashion.com/articles/intelligence/the-strategic-importance-of-hr Forbes Welcome. (2013).  Forbes.com. , from   https://www.forbes.com/sites/ronashkenas/2013/03/11/if-you-have-to-fire-an-employee-heres-how-to-do-it-right/#3c954ad0151f Gomez, M. (2014).  How Career Development Programs Support Employee Retention.  Td.org. from https://www.td.org/Publications/Blogs/Career-Development-Blog/2014/10/How-  Ã‚  Ã‚   Career-Development-Programs-Support-Employee-Retention Hennes & Mauritz (H&M), AN HRM CASE STUDY. (2009) (1st ed.). Retrieved from https://colbournecollege.weebly.com/uploads/2/3/7/9/23793496/5385hrm_case_study_0.p  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   df How to manage performance | Advisory booklet | Acas.  Acas.org.uk. Retrieved from https://www.acas.org.uk/index.aspx?articleid=2927 Kreissl, B. (2013).  What exactly are HR best practices? | Canadian HR Reporter.  Hrreporter.com. , from https://www.hrreporter.com/columnist/hr-policies-  Ã‚   practices/archive/2013/04/22/what-exactly-are-hr-best-practices/ MANAGEMENT REPORT. (2011) (1st ed.). Retrieved from https://group.hugoboss.com/files/HUGOBOSS_GB2011_Lagebericht_En_AGAbschluss.p  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   df Pfeffer, J. (1998).  Seven Practices of Successful Organizations  (2nd ed.). California. Retrieved from https://www.researchgate.net/profile/Jeffrey_Pfeffer/publication/265114424_Seven_Practices_of_Successful_Organizations/links/56cbb52b08aee3cee54192bc.pdf Thompson, S.  Human Resources Life Cycle.  Smallbusiness.chron.com. Retrieved from   https://smallbusiness.chron.com/human-resources-life-cycle-62078.html Types of Employee Services.  Smallbusiness.chron.com. Retrieved from https://smallbusiness.chron.com/types-employee-services-2802.html What is employee transition planning?.  Reference. Retrieved from   https://www.reference.com/business-finance/employee-transition-planning-  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   46898c77ac071e75 What is Onboarding Exactly? - PeopleAdmin.  PeopleAdmin. Retrieved from https://www.peopleadmin.com/2013/01/what-is-onboarding-exactly/

How to Improve China's International Trade Essay

How to Improve China's International Trade - Essay Example International trade in China nowadays is the most developed form of international contacts. The Chinese international turnover during the years of reforms has grown from $10 billion in 1978 to $325 billion in 1997 (the positive balance equals to more than $40 billion). By the international trade volume China now takes the third place in the world, with its export and import in 2005 equaling to $1422.1 billion. (Lloyd 2006, p. 389) More than 220 countries have international trade relations with China, among which are USA, Japan, European Union, Korea, Taiwan, Russia, Australia and Canada. On July 1st, 2004 China adopted a new law 'About International Trade'. With the aim of stimulating the international trade, this law has replaced the regime of considering and registering the right for carrying out external economic operations for the simple system of registration, and there have been created strict regulations, relating to import and export of goods and technologies, international s ervice trade, international trade order, as well as the protection of copyright according to the abovementioned order. (Garnaut & Song 2005, p. 27) The dependence of Chinese economy on the international trade has grown significantly, which witnesses about its deep involvement into the world international ties and processes. Though China takes the third place in the world economy by the international trade volume, its weight in it can still become higher. The main obstacle for this is the low quality of the bigger portion of the goods, produced by the processing industry, which don't survive the rivalry of the similar products on the world market, and the absence of possibilities for increasing the raw materials export. The main task of the Chinese export policy is the providing of import financing, which is built with the account of the international conjuncture. The main efforts are directed at stimulating predominant growth of finished goods' export with the growing portion of science-heavy products; these processes are accompanied by achieving the quality of goods, which will correspond to the international quality standards . Considerable growth has been achieved in the total volume of finished goods' export, which by the beginning of 90s constituted already 2/3 of the Chinese export. The first place in export (50%) belongs to the consumer goods, among which clothes, shoes, toys, etc. An important place in the international trade of China is taken by the raw materials processing with the further export of the finished products - it constitutes about 50% of the total country's turnover. China is the leader in exporting textiles and silk. Textile industry is the main source of foreign income for China. (Kent 2002, p. 344) Less than 20% of export accounts for machine building and electro technical products. The growth of the specific gravity of these products in the world export is being restricted by the fact, that their quality is not competitive with that of other suppliers. The portion of Chinese machine building in the world export does not exceed 0.3%. (Manilla Bulletin 2005, p. 12) The structure of the international trade in China was described here to decide, what challenges are set in front of Chinese economy and foreign trade as the essential part in its development. The definition and determination of challenges will lead us to the definition of

Judgement in Accounting Essay Example | Topics and Well Written Essays - 1500 words

Judgement in Accounting - Essay Example Secondly, accounting follows a framework popularly known as â€Å"The Conceptual Framework for Financial Reporting†. In addition, the overall accounting structure and basic formation of reporting, assists in conceptualizing accounting better. The knowledge of accounting principles, procedures, and rules is valuable to business and its eventual success in any given financial period. Financial records are made numerically and any accounting analysis on them should be numerical (Anthony, 1993). The â€Å"International Public Sectors Accounting Standards Board† sets standards and Recommended Practice Guidelines in accounting. They are used by government agencies in the national, regional, and local governments. According to this board, the Conceptual Framework for Financial Accounting is mainly used for preparation and presentation of general purpose financial reports (Needles & Powers, 2012). The Conceptual Framework also extends its authority to public sectors social secu rity funds, trusts, statutory authorities, as well as, international governmental organizations. However, the general purpose financial reporting has the main objective of providing financial information about a business that comes in handy when looking for current investors; reports to creditors when requesting for loans; and decision making regarding purchases, sales, equity holding and debts in line with the profits or returns. There are two types of financial reports. They include general Purpose Financial Reports and Special purpose Financial Reports. General Purpose Financial reporting refers to a central component of enhancement and support, of the financial reports by public sector entities. The intentions of these reports is to satisfy the information requirements, for users who may be in a position that lacks enabling factors for preparation of financial reports that are tailor-made, to meet their information needs. They also contain a number of reports each of which gives a response that is within the scope of financial reporting, with respect to the objectives of financial reporting. However, the scope of financial reporting also includes guidelines on how other various events and activities can be reported in the financial report. On the other hand, Special Purpose Financial Reports (SPFRs) are financial reports whose sole purpose is to respond to specifications for users that bear authority, to make such requirements and for a specific purpose (Piper, 2013). There are characteristics that guide the qualitative nature of important financial information. These characteristics include comparability, timeliness, verifiability and comprehensibility. However, the basic qualitative characteristics include relevance and faithful representation. For financial information to display relevance, it should influence the decision made by the user (Balakrishnan & sprinkle, 2008). Failure to consider the importance of the relevance of the information will create a niche, even after the decision is made. However, the financial information must display a predictive value and a confirmatory value to attain relevance. Moreover, the confirmatory value should either confirm or differ with the evaluations that were previously made. On the other hand, financial information that exhibits a predictive value must also exhibit a confirmatory value because these two values are interrelated. For instance, a company’s financial report can be used to project future earnings for the company (Gupta, 2009). However, it should also be verified that the method of prediction