A US Perspective Essay Example for Free

A US Perspective Essay With a total import of 6926. 2 million dollars in December 2008, the US is arguably the leading player in the global textile industry (US Government, 2009). China is one of USAs leading partners in ensuring that the textile industry develops. The textile industry has in the past years been displaying positive growth except for the 2007-2008 period when the level overall imports dropped by 3685 million dollars (US Government, 2009). Developing an understanding of the dynamics that affect the textile industry is important in ensuring that this sector is sustained due to the important role it plays in ensuring that US nationals are clothed and economic development. It is apparent that if the trends are not corrected the US economy may be negatively affected. Demand in the US clothing industry is affected by a large number of factors within sits social and economic environment. Though the US records considerably low levels of birth rate, immigration greatly affects the levels of population growth rate. Due to clothing being a basic need, the textile industry is affected by the levels of population growth. Demographics though dependent on culture and even the levels of educational attainment are affected by existing legal systems and political policies that are in place. The US governments failure to deal with illegal immigration may increase the pressure that the textile industry faces in meeting high demand for clothing. Clothing and lifestyle are two factors that display high levels of correlation (Nordstrom, 2007). Trends in clothing that may be affected by the levels of economic empowerment, the prevailing economic conditions, fashions and dynamics within the society for instance short term preferences all affect demand within the clothing industry. Seasonal factors for instance weather pattern greatly affect specific clothing that is in demand. The effects of climatic patterns are an important factor that even supersedes fashion in determining demand for clothing. It is therefore apparent that the political, social, legal and even technological environment relayed through fashion affect demand for clothing in the US. The textile industry is labor intensive and success is dependent on not only ability to organize internal inputs but also availability of required resources (Plunkett, 2008). The cost of labor in nations like China is lower than in US which is one of the key reasons as to why the US imports clothing (Rofel, 2007). Another reason for importing clothing is availability or raw material especially natural fabrics; cotton, wool and silk are readily available in nations like Turkey than in the US though it produces some of these materials (Rofel, 2007). Due to the drop that has been experienced in textile imports, it is logical to expect an increase in internal production especially in non synthetic fabric. Moreover, designing as a segment in the clothing industry will continue growing due to the role played by fashion in determining the nature of demand in the clothing industry. Natural fabric and low cost clothing segments however will still continue relying on imports due to low availability of raw materials in the US and the need to create a cost advantage that is critical to ensuring affordable clothing. A look at data derived from the textile industry clearly shows that nearly 70% of the nations that export textile to the US are Asian (US Government, 2009). This can be explained by the low cost of labor in such nations and the close bilateral relationship between Asian nations and the US (Taylor, 2008). Another important trend is the general increase in textile imports; this can be explained by population growth experienced in the US. On the contrary, recent poor performance can be blamed on the negative trends that were displayed by the US economy in late 2007 and early 2008 that may have reduced investor confidence (Taylor, 2008). The US is clearly dependent on other nations for its clothing and textile needs which may negatively affect its internal potential to develop its textile industry. However, high level segments like designing have come up as beneficiaries in the considerably long textile industry chain. It is evident that by importing textile more entities or industries gain than if the US heavily relied on its internal ability. This universal gain is important in ensuring sustainable economic development. References Nordstrom, C. (2007). Global outlaws: crime, money, and power in the contemporary world. Santa Barbara, CA: University of California Press. Plunkett, J. W. (2008). Plunketts Apparel Textiles Industry Almanac 2008: Apparel Textiles Industry Market Research, Statistics, Trends Leading Companies. Houston, TX: Plunkett Research, Ltd. Rofel, L. (2007). Desiring China: experiments in neoliberalism, sexuality, and public culture. New York, NY: Duke University Press. Taylor, M. (2008). Global economy contested: power and conflict across the international division of labor London: Taylor Francis. US Government (2009). U. S. Imports of Textiles, Textile Products and Apparel, Top Trading Partners Top Countries based on current month. Retrieved 30 June 2009 from http://www. census. gov/foreign-trade/statistics/country/sreport/country. txt

Leaving your city: Analysis :: essays research papers

The Poem that I chose to analyze is Agha Shahid Ali's titled Leaving Your City. This is a very appropriate choice of title because it clarifies and helps you to understand the movement of the poem. We have the writer and another character meeting and spending time together and then they are not together and the title helps us to understand that the writer has left the city of the newly met companion. Also the title is not stated with in the poem and is not a real clichà © title so I believe that that makes it work even better.   Ã‚  Ã‚  Ã‚  Ã‚  The way Ali has broken up this poem is very interesting. He makes use of full sentences and only uses capitalization at the beginning of each sentence. However the way that each stanza is broken up puts a great deal of emphasis on specific lines throughout the poem. There is also enjambment throughout the entire poem and it makes you keep reading a sentence and at the same time has you look at the line the reader just read more carefully. There is also a great deal of end-stopped lines and line breaks which introduce an unexpected emphasis. There is one line that is just one word, the word meticulous, and that word alone really paints the picture of the nameless character that is involved in someway with the speaker. The way you are forced to read allows for a great reading experience.   Ã‚  Ã‚  Ã‚  Ã‚  Ali pulls together very unlike images and makes them work very well together. The images however seem to be somewhat abstract. The stanza that really stands out to me is â€Å"you sharpened the knife   Ã‚  Ã‚  Ã‚  Ã‚   on the moon’s surface,   Ã‚  Ã‚  Ã‚  Ã‚   polished it with lunatic silver.† (Ali) This is just very uncertain and it makes the reader have to think about what the speaker is saying. There are just so many different ways in which you can deduce that set of lines, which is definitely a good thing because then the reader definitely has their own interpretation and experience of the writing. The speaker never uses a simile flat out but everything that the speaker says is very important because there are so many events and movements that take place in this piece, yet it is all withered down to a few precise words that encapsulate everything the speaker is trying to convey.   Ã‚  Ã‚  Ã‚  Ã‚  The tone that the speaker sets is also very important to the reader empathizing.

Exam case financial accounting Essay

Solutions to Exercises and Problems Tutorial 1 IFM Case 2-2 Case 2-2 SKD Limited 1.Goodwill There is no goodwill amortization expense in Country A, so the goodwill amortization expense recognized by SKD must be added back to determine income under Country A GAAP. SKD amortizes goodwill over a longer period (20 years) than is allowed in Country B (5 years), so an additional amount of goodwill amortization expense must be recognized to determine income under Country B GAAP, which reduces Country B GAAP income. b.The goodwill adjustment affects the retained earnings in stockholders’ equity. The increase in Country A GAAP income results in an increase in retained earnings and the decrease in Country B GAAP income results in a decrease in retained earnings. c.The adjustment to income is for the current year only. The adjustment to stockholders’ equity is cumulative. The fact that the stockholders’ equity adjustment is three times as larger as the income adjustment implies that the goodwill was purchased three year ago. 2.Capitalized Interest a.The adjustment labeled â€Å"Capitalized interest† relates to the interest that is not expensed but instead is capitalized under Country A GAAP. The adjustment labeled â€Å"Depreciation related to capitalized interest† relates to the depreciation of the interest that was capitalized as part of the cost of the asset. b.The first adjustment increases income because interest is not being expensed immediately but instead is capitalized as part of the cost of the asset to which it relates. The second adjustment decreases income because under Country A GAAP, the asset to which interest is capitalized has a larger cost and therefore a larger depreciation expense. c.Both income adjustments are closed out to retained earnings and partially offset one another. The increase to income of $50 and the decrease of $20 result in a net increase in retained earnings of $30. 3.Fixed Assets a.When fixed assets are revalued to a higher amount, there is an increase in their carrying value with an offsetting increase in stockholders’ equity to keep the balance sheet in balance. The amount by which the assets are revalued is subject to depreciation, which results in a larger depreciation expense. The adjustment to recognize this additional depreciation expense decreases income under Country B GAAP. It also decreases stockholders’ equity (retained earnings). The decrease in retained earnings from additional depreciation is smaller than the increase in stockholders’ equity from revaluation of assets, which results in a net increase in stockholders’ equity. Note: if we knew when the fixed assets were revalued, we could determine the amount by which they were revalued. For example, if revaluation occurred at the end of the previous year, then the revaluation amount must have been $64 ($64 – 8 = $56) because only one year of additional deprecat ion would be included in the stockholders’ equity adjustment. 27. Holzer Company – Property, Plant, and Equipment (capitalization of borrowing costs and measurement of asset subsequent to acquisition using two alternative models) IAS 16 Cost Model Carry asset on the balance sheet at cost less accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000* x 10%)50,000 Interest expense in Year 1$40,000 * Expenditures of $1,000,000 were made evenly throughout the year, so the average accumulated expenditures during the year are $500,000 ($1,000,000 / 2). Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$26,250$26,250 Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$997,500$971,250 Depreciation(26,250)(26,250)(26,250)(26,250) Building (at 12/31)$1,050,000$1,023,750$997,500$971,250$945,000 IAS 16 Revaluation Model Carry asset on the balance sheet at revalued amount equal to fair value less any subsequent accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000 x 10%)50,000 Interest expense in Year 1$40,000 Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$25,5262$25,526 Subtotal $0$26,250$26,250$25,526$25,526 Loss on revaluation27,500 Reversal of revaluation loss(27,500) Total expense (income)$0$26,250$43,750$25,526$(1,974) Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$970,000$944,474 Depreciation(26,250)(26,250)(25,526)(25,526) Building (at 12/31)$1,050,000$1,023,750$997,500$944,474$918,948 Loss on revaluation(27,500)1 Reversal of revaluation loss27,5003 Revaluation surplus 3,5523 Building (at 12/31)$1,050,000$1,023,750$970,000 $944,474$950,000 1At December 31,Year 3, the fair value of the building is determined to be $970,000. The carrying value of the building is decreased by $27,500, with a loss on revaluation recognized in Year 3 net income. 2 Depreciation in Year 4 is $25,526 ($970,000 / 38 remaining years). 3At December 31,Year 5, the fair value of the building is determined to be $950,000. The carrying value of the building is increased by $31,052. A reversal of revaluation loss of $27,500 is recognized in income and $3,552 ($31,052 – 27,500) is recorded as revaluation surplus in shareholders’ equity.

Essay on The Pros and Cons of Globalization - 900 Words

Globalization can be defined as the system of interaction among the countries of the world in order to develop the global economy. It also refers to the integration of economics and societies all over the world (http://hotbabefatchicks.hubpages.com/hub/Definition-of-Globalization). Globalization can be both advantageous and detrimental to developing countries. Some of its advantages are increased external finance, improved technology and political conformism. Disadvantages of globalization include death of small and medium businesses, loss of cultural identity and the effect of foreign policies on domestic economic development. Let us take a closer look at these consequences of globalization. Increased external finance: Globalization†¦show more content†¦They were also the first business to introduce 3G services in Nigeria. Now, Nigerians can communicate and network with people all over the world. Political conformism: With the increasing influence of foreign companies on developing countries’ economies, governments of developing nations need to carefully consider the effect of their policies on foreign investors. As is well known, most developing countries practice different forms of autocratic or pseudo democratic forms of government that lord it over their populace (Mostert, 2003). Now, governments of these countries need to consider economic policies, tax forms and human rights decrees that will encourage foreign investors to come help develop their nation. This has helped alleviate lots of oppression that citizens of developing countries experience (Balakrishnan, 2004). Now, we examine a few disadvantages of globalization on developing nations. Death of small and medium businesses: The influx of global organizations into developing countries often results in stiff competition for local business (often small and medium scale businesses). Global organizations are armed with huge capital, advertisement strategies, sometimes higher quality and better product prices. This leaves smaller local businesses scrambling for crumbs of the market share and as a result, these SMEs crumble leaving scores of people jobless. For example in Nigeria, prior to the entry of foreign textile andShow MoreRelatedPros and Cons of Globalization873 Words   |  4 PagesThe Pros People have been on the move, traded, migrated and colonized in the earlier times; while in the process they transformed both places that they traveled to and the places that they came from. The pro-globalization people say that it is not just good for the rich but it’s good for the poor, because back in the 1990’s, when globalization took off, about 200 million people got out of poverty in places like India and China. Globalization is the process by which economies of countries aroundRead MorePros and Cons of Globalization2741 Words   |  11 PagesPros and cons of globalization Department: International Management Lecturer: Prof. Dr. Henkel and Prof. Dr. Perlitz Name: Shi Zhun Student ID: 1223396 Date: 29/Oct/2008 Table of Contents Page Number 1. Summary...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 2. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 3. The definition of globalization†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...........4 4. Economic growth (pros and cons)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 5. Worker (pros and cons)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 6. Consumer (pros andRead MoreAnalysis of the Pros and Cons of Globalization1212 Words   |  5 PagesGlobalization Introduction The continued accelerating pace of change in globalization is forcing an entirely new level of emphasis on individualized, highly targeted marketing across the many regions and countries of the world. Global marketing today must contend with a wider array of constraints, both economic and cultural, that as ever been the case in the past (Gupta, 2003). These constraints fuel a high level of creativity and focus on how to overcome cultural and economic constraints throughRead MoreThe Pros And Cons Of Globalization803 Words   |  4 PagesThe term ‘globalisation’ is commonly used to describe a modernisation and capitalist expansion, that entails a variety of economic, cultural, social and political changes over the past 50 years, that have shaped the world today (Guttal, 2007, pp. 524). An important aspect of this concept, is the rapid increase in transnational movements of goods and services, and the weakening notion of national and geo-political borders. Not only has glo balisation created economic prosperity but also a large flowRead MoreThe Pros and Cons of Globalization Essays1386 Words   |  6 Pagesspread of cultures, trade, information and creating options, Globalization can be highly beneficial to everyone by bestowing great fortunes on us. 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Hosein Rahmati Hosein Rahmati Globalization, Pros And Cons For Developing Countries January 2012 Globalization, Pros And Cons For Developing Countries January 2012 Globalization couldRead MoreThe Pros and Cons of Globalization Essay987 Words   |  4 Pages Globalization is the process by which states become interdependent on each other on all spheres of life. It is a process where countries go global by adapting universal characteristics involving human race. It is therefore the process of uniting people of the world into one unit with universal characteristics. This characteristics include; systems of education, politics, democracy, economy among many others. Through globalization economies, civilizations and societies become integrated into a globalisedRead MoreThe Pros and Cons of Globalization Essay1680 Words   |  7 PagesGlobalization. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it- and in every single instance the word globalization seems to have a different meaning. When I hear of globalization I think of the whole world coming close together in all phases. I tend to think that we as human beings are breaking down barriers that have been protected or guarded. For insta nce, I initially thought of the progress we are making in the communication aspect. SoRead MoreThe Pros and Cons of Globalization Essay963 Words   |  4 Pages It is debated whether globalization is an advantage or disadvantage to our society. Everyday you hear it on the news, you read it in the newspaper, and you overhear people talking about it and in every single instance the word globalization seems to have a different meaning. Globalization is the process by which a business or company becomes international or starts to operate on an international level such like the rise of the so-called global economy. It can also bring the world closer throughRead More Pros and Cons of Globalization and Localization Essays1487 Words   |  6 Pageshave been blessed with a stable economy. There has always been the extreme feeling of complacency and stability that comes with being a very large, internationally respected country. Strangely enough, America does not only reap the benefits of globalization, but it also basks in the glory of localization. We have, as a country, experienced much success both internationally and domestically. For example, w ithout our international businesses booming the way they are, our country would suffer from a