Major Challenges to Piagets Theory of Cognitive Development Essay

What are the major challenges to Piaget's theory of cognitive development and what aspects still have value? To answer this question, Piaget's theory of development should be explained along with Vygotsky's theory and the connectionist theory of development, and then each should be compared with the others. Once this has been achieved the main similarities and differences will be summarized, and finally the areas of Piaget's theory that have not been undermined by other theories will be reiterated. In Piaget's opinion, Intelligence is not how we would class it today, he believed that intelligence covered all mental thought. He did believe however that the development of intelligence was an evolutionary matter not something that could be built on after birth, only used. Piaget believed that the child was responsible for its own development and therefore teaching could be seen as defunct. In Piaget's development theory there is four stages the "Stages of Development". These stages are a progressive format which children follow through childhood to create a complex adult abstract thinking process. While the children move from one stage to the next the improvements they show are seen as indications they are not the progressing itself more so that it is evidence that it is happening. The sensor motor stage is the first of the four stages and normally refers to children from birth to eighteen months old. In this stage the child recognizes the world through its physical actions, the child will start to internalize this information. Once the child starts making representations for the information, it will start to develop thought and language, these accomplishments are seen as the move to the next stage. The preopera... .... (1992) "Connectionism and developmental theory", British journal od developmental psychology, 10, pp.209-54. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford Thorndyke, E.L. (1911) "Animal intelligence" New York: MacMillan. Cited in Roth, I. (2000) "Introduction to psychology" vol 1, Psychology Press, East sussex Vygotsky, L.S. (1962) "Thought and Language", Cambridge (Mass.), MIT Press. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford Vygotsky, L.S. (1988) "The genesis of higher mental functions" in Richardson, K. and Sheldon, S. (Eds.) "Cognitive Development in Adolescence", Hove, Erlbaum. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford Major Challenges to Piaget's Theory of Cognitive Development Essay What are the major challenges to Piaget's theory of cognitive development and what aspects still have value? To answer this question, Piaget's theory of development should be explained along with Vygotsky's theory and the connectionist theory of development, and then each should be compared with the others. Once this has been achieved the main similarities and differences will be summarized, and finally the areas of Piaget's theory that have not been undermined by other theories will be reiterated. In Piaget's opinion, Intelligence is not how we would class it today, he believed that intelligence covered all mental thought. He did believe however that the development of intelligence was an evolutionary matter not something that could be built on after birth, only used. Piaget believed that the child was responsible for its own development and therefore teaching could be seen as defunct. In Piaget's development theory there is four stages the "Stages of Development". These stages are a progressive format which children follow through childhood to create a complex adult abstract thinking process. While the children move from one stage to the next the improvements they show are seen as indications they are not the progressing itself more so that it is evidence that it is happening. The sensor motor stage is the first of the four stages and normally refers to children from birth to eighteen months old. In this stage the child recognizes the world through its physical actions, the child will start to internalize this information. Once the child starts making representations for the information, it will start to develop thought and language, these accomplishments are seen as the move to the next stage. The preopera... .... (1992) "Connectionism and developmental theory", British journal od developmental psychology, 10, pp.209-54. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford Thorndyke, E.L. (1911) "Animal intelligence" New York: MacMillan. Cited in Roth, I. (2000) "Introduction to psychology" vol 1, Psychology Press, East sussex Vygotsky, L.S. (1962) "Thought and Language", Cambridge (Mass.), MIT Press. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford Vygotsky, L.S. (1988) "The genesis of higher mental functions" in Richardson, K. and Sheldon, S. (Eds.) "Cognitive Development in Adolescence", Hove, Erlbaum. Cited in Lee V. and Gupta P.D. (2001) (eds) "Childs Cognitive and language development", Blackwell Publishers Ltd, Oxford

Magnesium Essay -- essays research papers

Magnesium is the twelfth element on the periodic table. It is located in the second group called the alkaline earth metals. Natural magnesium contains three different isotopes, and there are twelve others that are recognized. Seawater is a rich source of magnesium in the form of salt. Magnesium is the eighth most abundant element in the earth's crust. Magnesium readily ignites upon heating in air and burns with a dazzling white flame. To extinguish the flame water should not be used. Alkaline earth metal salts in general, are less soluble in water than the corresponding alkali metal salts. Some are even so insoluble that they resist weathering and leaching action in rainwater. Alkaline earth metals are extracted from the mineral ores like they have been for many decades. This second group of metals is also less reactive than the alkali metals. They do not need to have a specific storage procedure like that of the corresponding elements. These alkaline metals react with acids, and in certain temperatures of water. They are also harder than their alkali friends. In general, they have a gray-white luster that tarnishes quickly in the air to form a tough, thin oxide coating. The coating protects the metal, particularly magnesium, from further oxidation. This allows alloys of these metals to be used as low-density structural materials. Magnesium is one of the two most important alkaline earth metals. It is found in seawater. Today, though it is chiefly produced by electrolysis of fused magnesium chloride. It has many uses. Magnesium is an important material that is a chief component in a number of high-tensile-strength, low-density alloys. These properties allow the alloy to be very valuable in air and spacecraft construction. Also, the alloyed metal is used to make a large variety of other products, such as, artificial limbs, vacuum cleaners, optical instruments, recreational skis, wheelbarrows, lawn mowers, and outdoor furniture. Magnesium is also found in asbestos. Asbestos was used in insulating materials up until it was found to cause cancer and other types of lung diseases. The unalloyed metal of magnesium is used in photographic flashlight powders, incendiary bombs, and signal flares. This special element also has many important roles in the body. The most vital need for it is on the cellular level. It is as important as calcium, and is found in bone... ... nuts, pecans, and cashews contain some of the highest amounts of the element from edible nuts. Many types of fish contain the element too, specifically salmon. Also fruits such as dried apricots or avocados hold the element well. Eating these foods proves to be beneficial to the body in the ways already stated and many more in the long run. As you can see, magnesium is a special element that is extremely useful in our lives. We come across every day, completely unaware that it is there or even what it is. Most elements are like that though, never thanked or recognized for the important roles they play in our world today. Life without elements wouldn't be life at all. Without elements, such as magnesium, we would find ourselves without many of the conveniences and advancements in civilization that are currently available to us. Society, as a whole, (not just chemistry students) should learn more about these elements and appreciate all that they have given them for without them, life wouldn't be the same. With new advances in space exploration and more experimental research, we are sure to find many more elements which will make the life to come almost an effortless exsistance.

Ahab as the Hero of Moby Dick Essay -- Moby Dick Essays

Ahab as the  Hero of Moby Dick      Ã‚  One might think it a difficult task to find a tragic hero hidden in the pages of Moby Dick. Yet, there is certainly potential for viewing Ahab as heroic despite unfavorable responses to him by the reader. In the original formula coming from the Greeks, the tragic hero had to be a high-born individual of elevated status possessed of a fatal flaw which resulted in their downfall. With Othello Shakespeare redefined elevated status to include position alone rather than being linked to societal or birth status. In this way it was possible for Othello as the military leader to be the tragic hero despite being an outsider in the composition of the society. Melville follows this example in Moby-Dick. On board the Pequod, Ahab as the ship's captain assumes the role of king or dictator that gives him the elevated status to fit this traditional view of the hero (Millhauser 76). Melville himself wrote: Men may seem detestable . . . ; men may have mean and meagre faces; but man, in the ideal, is so noble and so sparkling, such a grand and glowing creature, that over any ignominious blemish in him all his fellows should run to throw their costliest robes . . . . If, then, to meanest mariners, and renegades and castaways, I shall hereafter ascribe high qualities, though dark; weave round them tragic graces; . . . then against all mortal critics bear me out in it, thou just Spirit of Equality, which has spread one royal mantle of humanity over all my kind! . . . . Thou who, in all Thy mighty, earthly marchings, ever cullest Thy selectest champions from the kingly commons; bear me out in it, O God! (444-445)    Melville takes the traditional heroic view and reinterprets it from the American... ... halters round their necks; but it is only when caught in the swift, sudden turn of death, that mortals realize the silent, subtle, ever-present perils of life" (Melville 545). With these words, Ahab's fate is linked with a universal fate of mankind. Through this common denominator, Ahab's struggle becomes that of all men everywhere.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In Ahab, Melville developed an unlikely hero. He is not always appealing, but he does seek within his own realm of knowledge and experience to overcome what he perceives as a major evil force. Ultimately, Ahab gives his life in pursuit of a betterment for everyone.    Works Cited Melville, Herman. Moby-Dick. 8 Classic American Novels. Ed. David Madden. San Diego: Harcourt, 1990. Millhauser, Milton. "The Form of Moby-Dick." Critics on Melville. Ed. Thomas J. Rountree. Coral Gables: U of Miami P, 1972. 76-80.

Relation of Physical Education to the Personality Development of the Students Essay

According to Harrison (2005), in the field of human resource management, training and development is the field concerned with organizational activity aimed at bettering the performance of individuals and groups in organizational settings. It has been known by several names, including employee development, human resource development, and learning and development. According to Robbins and DeCenzo (2000), training has traditionally been defined as the process by which individuals change their skills, knowledge, attitudes, and/or behavior. In this context, training involves designing and supporting learning activities that result in a desired level of performance. In contrast, development typically refers to long-term growth and learning, directing attention more on what an individual may need to know or do at some future time. While training focuses more on current job duties or responsibilities, development points to future job responsibilities. However, sometimes these terms have been used interchangeably or have been denoted by the single term performance consulting, which emphasizes either the product of training and development or how individuals perform as a result of what they have learned. Training is an educational process. People can learn new information, re-learn and reinforce existing knowledge and skills, and most importantly have time to think and consider what new options can help them improve their effectiveness and performance at work. Effective trainings convey relevant and useful information that inform employees and develop skills and behaviors that can be transferred back to the workplace Robinson and Robinson (1999). The goal of training is to create an impact that lasts beyond the end time of the training itself. The focus is on creating specific action steps and commitments that focus people’s attention on incorporating their new skills and ideas back at work. Training can be offered as skill development for individuals and groups. In general, trainings involve presentation and learning of content as a means for enhancing skill development and improving workplace behaviors. These two processes, Training and Development, are often closely connected. Training can be used as a proactive means for developing skills and expertise to prevent problems from arising and can also be an effective tool in addressing any skills or performance gaps among staff. Development can be used to create solutions to workplace issues, before they become a concern or after they become identifiable problem. Development perspective examines the current environment, the present state, and helps people on a team, in a department and as part of an institution identify effective strategies for improving performance. In some situations, there may not be anything â€Å"wrong† at the present time; the group or manager may simply be seeking ways to continue to develop and enhance existing relationships and job performance. In other situations, there may be an identifiable issue or problem that needs to be addressed; the Development process aims to find ideas and solutions that can effectively return the group to a state of high performance. Development implies creating and sustaining change. Training and development describes the formal, ongoing efforts that are made within organizations to improve the performance and self-fulfillment of their employees through a variety of educational methods and programmed. In the modern workplace, these efforts have taken on a broad range of applications—from instruction in highly specific job skills to long-term professional development. In recent years, training and development has emerged as a formal business function, an integral element of strategy, and a recognized profession with distinct theories and methodologies. More and more companies of all sizes have embraced â€Å"continual learning† and other aspects of training and development is a process that â€Å"strives to build the capacity to achieve and sustain a new desired state that benefits the organization or community and the world around them†. Development perspective examines the current environment, the present state, and helps people on a team, in a department and as part of an institution identify effective strategies for improving performance. In some situations, there may not be anything â€Å"wrong† at the present time; the group or manager may simply be seeking ways to continue to develop and enhance existing relationships and job performance. In other situations, there may be an identifiable issue or problem that needs to be addressed; the Development process aims to find ideas and solutions that can effectively return the group to a state of high performance. Development implies creating and sustaining change Charnov, Garavan, Costine, and Heraty (2000). According to Marmer (1999), training and development describes the formal, ongoing efforts that are made within organizations to improve the performance and self-fulfillment of their employees through a variety of educational methods and programmed. In the modern workplace, these efforts have taken on a broad range of applications—from instruction in highly specific job skills to long-term professional development. In recent years, training and development has emerged as a formal business function, an integral element of strategy, and a recognized profession with distinct theories and methodologies. More and more companies of all sizes have embraced â€Å"continual learning† and other aspects of training and development as a means of promoting employee growth and acquiring a highly skilled work force. In fact, the quality of employees and the continual improvement of their skills and productivity through training are now widely recognized as vital factors in ensuring the long-term success and profitability of small businesses and in addition create a corporate cultu re that supports continual learning. For the most part, the terms â€Å"training† and â€Å"development† are used together to describe the overall improvement and education of an organization’s employees. However, while closely related, there are important differences between the terms that center on the scope of the application. In general, training programmed have very specific and quantifiable goals, like operating a particular piece of machinery, understanding a specific process, or performing certain procedures with great precision. According Ambler (2006), effective training and development begins with the overall strategy and objectives of the small business. The entire training process should be planned in advance with specific company goals in mind. In developing a training strategy, it may be helpful to assess the company’s customers and competitors, strengths and weaknesses, and any relevant industry or societal trends. The next step is to use this information to identify where training is needed by the organization as a whole or by individual employees. It may also be helpful to conduct an internal audit to find general areas that might benefit from training, or to complete a skills inventory to determine the types of skills employees possess and the types they may need in the future. Each different job within the company should be broken down on a task-by-task basis in order to help determine the content of the training program. According to Schwartz (2000), in measuring the effectiveness of train ing, researchers have typically relied upon the subjective reactions of participants (Baker & Titus, 1982; Heppner & Reeder, 1984; Pfaff, 1981; Pritchett, Clay, & Nichols, 1984; Twale & Muse, 1996; Upcraft & Pilato, 1982). Other measures that have been used previously include the performance of task activities within the context of training programmed (Baker & Titus, 1982; Forney, 1986) and follow-up questionnaires designed to assess trainees’ subsequent emotional states (Winston & Buckner, 1984) or their ability to apply programmed content to hypothetical situations similar to those encountered on the job (Schuh, Stage, & Westfall, 1991). With the exception of one study by up craft and Pilato (1982), in which ratings of job performance were used as a criterion, there appears to have been little or no published research dealing with the effects of training on actual job performance. Importance of Training and Development on Job Performance Training is one element many corpora tions consider when looking to advance people and offer promotions. Although many employees recognize the high value those in management place on training and development, some employees are still reluctant to be trained. Training and development offers more than just increased knowledge. It offers the added advantage of networking and drawing from others’ experiences therefore it is not uncommon to hear excuses regarding why someone has not received training. (Choo 2007) According to Bowley (2007), training in an organization can be mainly of two types; Internal and External training sessions. Internal training occurs when training is organized in-house by the Human resources department or training department using either a senior staff or any talented staff in the particular department as a resource person. On the other hand, External training is normally arranged outside the firm and is mostly organized by training institutes or consultants. Whichever training, it is very essential for all staff and helps in building career positioning and preparing staff for greater challenges. While the applications of training and development are as various as the functions and skills required by an organization, several common training applications can be distinguished, including technical training, sales training, clerical training, computer training, communications training, organizational development, career development, supervisory development and managemen t development. According to Mondy, R.W. and Adeniyi, (1995), is of the opinion that for every employee to perform well, there is the need for constant training and development. The right employee training, development and education provide big payoffs for the employer in increased productivity, knowledge, loyalty, and contribution to general growth of the firm. The reasons behind employee training and development cannot be overemphasized. Local According to Roberto G. Medina, training is regarded as an attempt to improve the employee’s ability to perform his job so the goals of the organization can be achieved. The person mainly responsible for training is the supervisor who is assisted in some ways by the personnel manager or the training director. The supervisor of the new employee is the best position to provide training. This is so because he knows what output his unit needs. In addition, the supervisor has the abilities, the skills, and the right attitude needed to be imparted to the new employee. According to Jose P. Leveriza, training starts before the employee walks through the door of the place of work for the first time. However, learning about the employer starts with the job advertisement and continues through the selection process. As a result ‘training’ in its widest sense could be deemed to have begun, albeit subliminally, several weeks, or even months, before a new employee is added to the payroll. It is important at this stage to make a clear delineation between training or development as a result of some initiative taken at work, and education that is undertaken before and is mutually exclusive to the work situation. Education at school, college or university may be undertaken as part of an individual’s development programme, but for the process of this discussion, achievements in these areas outside and prior to employment will be regarded as qualifications required to gain employment, and thus not within the employer’s control. According to Florence M. de Guia, training is ‘a planned process to modify attitude, knowledge or skill behavior through learning experience to achieve effective performance in an activity or range of activities. Its purpose, in the work situation, is to develop the abilities of the individual and to satisfy the current and future needs of the organization’. This is a wide-ranging remit, but the confusion with the education which has a more abstract, formal and lengthier connotation must be established at the outset. Related Studies Foreign The study conducted by Joseph Kennedy (2009) â€Å"The Impact of Training and Development to Job Performance†. The Judicial Service of Ghana as a Public Service Institution is the organ responsible for the day to day administration of the Courts and Tribunals of the land. To achieve the above function of the Judicial Service of Ghana, part of its budgetary allocation has been earmarked solely for training of judges, magistrates and judicial staff to enhance their capacity to perform their duties effectively and efficiently so as to achieve the vision and mission statements of the Service. To this effect, the judicial training institute which has the mandate to promote effective training of judges, magistrates and judicial staff, has over the years conducted and continue to provide training to judges, magistrates and judicial staff to build their capacity to perform their functions effectively. Notwithstanding the huge investment in training by the Judicial Service of Ghana, the service is confronted with a lot of challenges in achieving its vision and mission statements. These challenges include delays in the processing of court cases and the need to constantly upgrade the skills of judicial staff, judges and magistrates to cope with new trends in efficient justice delivery. This study seeks to evaluate the impact of the huge investment made in training on job performance of judicial staff. The researcher used both primary and secondary sources of for the conduct the research. The research findings revealed that the training conducted by the Judicial Service of Ghana for its employees was very negligible. The research further recommends that the frequency of Training provided by the Judicial Service of Ghana should be improved to ensure that more employees have access to Training and Development. Again, Training and Development offered by the J udicial Service of Ghana should ensure a better understanding of the Mission and Vision statement of the Judicial Service of Ghana so that, employees can identify themselves with the organizational values in the discharge of the duties. The study conducted by Ayesha Mirza (2010) â€Å"HR Process and Impact of Training and Development on Employee’s Performance at PSO† This project discusses research that was undertaken about the HR process and impact of training and development on employee’s performance at Pakistan State Oil. I have studied all the HR practices of the company but the main focus was to study the impact of training and development on employee’s performance in the company. A theoretical framework is developed from a literature search and this issued by me as a model for further research. I have collected data within this framework and analyzed it according to the requirements of the project. To collect the data required I have also visited regional office of PSO in Karachi and also collected data from several outlets of PSO. The web site of PSO is also used as source of data by the group. At PSO, they strongly believe that Human Resource is the asset that should be appreciate d with the passage of time. Consequently, PSO considers the strong focus on training and development of their employees a value added and worthwhile investment. Then, in the last by the detailed study of the impact of training and development practices used by the company some recommendations are made and on the basis of the analysis of company’s practices conclusions are drawn. Chapter 3 RESEARCH METHODOLOGY This chapter deals with the methodology to be applied in. It covered the research design, respondents of the study, research instruments, and procedure in gathering the data, determined of sampling technique, and the statistical treatment. Research Design The researchers will use the descriptive design to find out and make a comparison of training and development and job performance of the newly hired employees of Card Mutually Reinforcing Institute and to determine the levels of training and development. The correlation design will also use to determine if there is a significant relationship between training and development and job performance. Population and Distribution of the Study The populations of the study are the newly hired employees of Card Mutually Reinforcing Institute in San Pablo City. The researcher selected fifty (50) newly hired employees in the said company by administering a self-made test questionnaires. The respondents randomly selected by the researchers by dividing them into two (2) batch , which consist of twenty five (25) member per batch by giving them thirty minutes allotted time to answer the provided questions given by the researchers. Research Instruments The researcher prepare self made test to measure the effectiveness of training and development to the job performance of the newly hired employees. The constructed test includes the profile factors such as age, gender and socio-economic status. Self- made Tests. These are the 15 item questionnaires made by the researcher which were use to measure the effectiveness of training and development to the job performance of the respondents. The questionnaires generally consist of general information and evaluation to test the effectiveness of training and development to the job performance of the employees. The questionnaires were then validated by the experts of the field. Research Procedure In order to get the necessary materials needed for the review of related literature and studies, the researchers visited different libraries namely San Pablo Colleges, City Library, University of the Philippines Los Banos and Colegio De San Juan De Letran. The researchers’ visit and surf different websites to gather more information and data to have a better understanding of the studies. The researchers made test questionnaires to determine the effectiveness of training and development to the job performance of the newly hired employees. The fifty (50) respondents of Card Mutually Reinforcing Institute divided into two batches for not to interrupt the workplace of the respondents. For gathering the data of the study, the researchers ask for their consent before making them as the respondent of the study. Also the researchers ask the respondents to answer the questionnaires with all their honest and sincerity. After the respondents have finish answering the questionnaires, the researchers will collect and sort it out and tabulate the scores then analyze and interpret it.

My Terror

My ambition of life Introduction:- NO one in this world is without dreams in life. Everyone has is own dream in Fife. Many have an aspiration to be a rich one or to become business tycoon. Some person have a dream of becoming leader,application & social reformers. Their are others who has a crazy for becoming poets,writers & novelists. While most of us generally have a desire of becoming engineers,doctors,scientist of a great repute. But some have a opinion to be commissioned officers in the Armed forces.There are fewer & fewer people who are happy-go–lucky†by nature & have no clear cut aim in their life Importance:-AS for myself, I don ‘t have very ambitious aims in my life. ‘ don ‘t wish to became a mill owner or a multi-millionaire. The soul object of my life is to lead a life of simplicity ; oddness devoted to the service of humanity. The life of a professional leader ; a plantation leader does not interest me because most of such persons are grown parasites in the society. Our society also dislike ARISTOTLE said â€Å"THESE applications are Just like â€Å"demagogues† mean a cruel & black bird like vultures have preying eyes.Different aims:- I born of middle class parent's. From the very begging I have been passing through the struggles of life . 1 have cut throat competition in most of the profession . Let's consequences have been far reaching. People demoralized. Examples are not wanting when we can find every engineers excepting very big bribes,lawyers saving guilty persons or murderers & doctors are demanding money from patients at crucial stages of surgical operations Choice of profession:- Then what do I want to be?Indeed,from the core of my heart,' wish to become a teacher. The motto of this life s simple living & high thinking,which inspire me to take up this profession. The noble ideals of the teacher in the ancient time or before me. As I am fully aware of difficulties & hardship off teacher life. ‘ kn ow that a teachers are on the bleating graph of poverty in the past,But I now if he is not a wealthy person then he is not depicted to anyone . Elf he has not luxurious life then on the other he can easily can meet out the basic needs of life.A teacher is always busy in correcting answer book or exercise books of students but along with this as a result of continuous research n education, the role of the teacher is only of a supervisor & a facilitator in the innovation methodologies & strategies. Len short there are no stirring event in his life. Teacher is a bank of respect & prestige in every nook & corner of the street in the shape of student. ‘spite of these hardships,' don ‘t have any aim but only to become a teacher. ‘ have my own reasons & considerations for this choice. From my childhood,' have developed of a love for young children's .To me, they are delicate & beautiful like the petal of a flower. Feel that as a teacher, I can help the students in widenin g their outlook by giving them a treasury of knowledge . 1 will have the satisfaction of doing valuable service to country by producing egoistic citizens. Moreover,the company of the young children's can even help me in remaining young & fresh I thought & out-look. Conclusion:-Besides doing all these important services I will also have the mean of consistency. ‘ have a great faith in life of noble & ideal teacher,because teachers are the custodians off highest value Essay on Terror By machineries

Character Sketch of Caliban

Character sketch of Caliban The Oxford Dictionary of English defines the adjective servile as the quality of â€Å"having or showing an excessive willingness to please others†. This is a trait of character that is often desired in a slave. But is it a required trait for a good slave or are there other ways to make them bide your words? In the stage play â€Å"The Tempest† (1611) written by William Shakespeare we are presented with the character, Caliban. Caliban is a native ofa remote island, the power of which 12 years earlier was usurped by the magician Prospero.Prospero made Caliban his subordinate and additionally tried to civilize him. Caliban, however, violated Prosperds trust as he tried to commit rape upon Prosperds daughter, Miranda. Prospero and Miranda believe that they did Caliban a favour by teaching him their language and â€Å"civilizing† him. This belief is central in the discussion of imperialism and can be easily transferred to the English Empir e even though it took place around 200-300 years after the play was written. Caliban represents the opinions of the colonized people.His island has been taken over by a foreign power nd he feels impotent and in contrary to Prospero and Miranda he says that it hasn't done him any good to learn their language: miou taught me language; and my profit ont Is, I know how to curse. The red plague rid you For learning me your language† (II. 364-366) It seems as if Caliban has developed this hatred towards Miranda and Prospero over the last 12 years. As they have taught him more, he has become more aware that they were treating him badly. â€Å"When thou camest first, Thou strokdst me and mad'st much of me and then I loved thee† (11. 333-337).Caliban believes in the upernatural. He uses curses and mentions the god of his mother as a ruling power that is able to have influence. It is, however, not an almighty god, as Caliban mentions that Prospero is stronger that Setebos, the go d. Before Prospero and Miranda started teaching him their language his knowledge was limited. He says that they taught him â€Å"how to name the bigger light, and how the less†. Hence, he has not had a word to describe the sun and the moon before Prospero and Miranda came. The argument between the three of them is generally kept in a very cruel tone, which emphasizes

GAAP for zero-interest-bearing note Essay

Wie Company has been operating for just 2 years, producing specialty golf equipment for women golfers. To date, the company has been able to finance its successful operations with investments from its principal owner, Michelle Wie, and cash flows from operations. However, current expansion plans will require some borrowing to expand the company’s production line. As part of the expansion plan, Wie will acquire some used equipment by signing a zero-interest-bearing note. The note has a maturity value of $50,000 and matures in 5 years. A reliable fair value measure for the equipment is not available, given the age and specialty nature of the equipment. As a result, Wie’s accounting staff is unable to determine an established exchange price for recording the equipment (nor the interest rate to be used to record interest expense on the long-term note). They have asked you to conduct some account research on this topic. (a) Identify the authoritative literature that provides guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting.†¨(b) How is present value determined when an established exchange price is not determinable and a note has no ready market? What is the resulting interest rate often called?†¨(c) Where should a discount or premium appear in the financial statements? What about issue costs? ———————————————————————————— This work requires that you consider the fair value of the note on the seller’s books (note receivable). Portion of the codification are cut and pasted into the document for you. There are two pieces of purchasing an asset with a note. The asset value and the value of the note. Here, the asset value is not known. Below it discusses that if you don’t know the value of the asset, you use the value of what was exchanged for it. Quotes from Codification†¨360 Assets†¨845 Nonmonetary Transactions†¨10 Overall†¨30 Initial Measurement 30-8 Fair value should be regarded as not determinable within reasonable limits if major uncertainties exist about the realizability of the value that would be assigned to an asset received in a nonmonetary transaction accounted for at fair value. An exchange involving parties with essentially opposing interests is not considered a prerequisite  to determining a fair value of a nonmonetary asset transferred; nor does an exchan ge ensure that a fair value for accounting purposes can be ascertained within reasonable limits. If neither the fair value of a nonmonetary asset transferred nor the fair value of a nonmonetary asset received in exchange is determinable within reasonable limits, the recorded amount of the nonmonetary asset transferred from the entity may be the only available measure of the transaction.†¨310 Receivables†¨10 Overall†¨30 Initial Measurement†¨Certain Receivables 30-1 The following provides initial measurement guidance for certain notes receivable, specifically those exchanged for cash and those exchanged for property, goods, or services. Such notes may be originated by an entity or purchased from a third party. 30-3 As indicated in paragraph 835-30-25-8, notes exchanged for property, goods, or services are valued and accounted for at the present value of the consideration exchanged between the contracting parties at the date of the transaction in a manner similar to that followed for a cash transaction. 30-5 As indicated in paragraph 835-30-25-10, in circumstances where interest is not stated, the stated amount is unreasonable, or the stated face amount of the note is materially different from the current cash sales price for the same or similar items or from the market value of the note at the date of the transaction, the note, the sales price, and the cost of the property, goods, or services exchanged for the note shall be recorded at the fair value of the property, goods, or services or at an amount that reasonably approximates the market value of the note, whichever is the more clearly determinable. 30-6 Paragraph 835-30-25-11 explains that, in the absence of established exchange prices for the related property, goods, or services or evidence of the market value of the note (as described in paragraph 835-30-25-2), the present value of a note that stipulates either no interest or a rate of interest that is clearly unreasonable shall be determined by discounting all future payments on the notes using an imputed rate of interest as described in Subtopic 835-30. Paragraph 835-30-25-11 explains that this determination shall be made at the time the note is acquired; any subsequent changes in prevailing interest rates shall be ignored.†¨Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ Now, to your questions†¦ Wie Company has been operating for just 2 years, producing specialty golf  equipment for women golfers. To date, the company has been able to finance its successful operations with investments from its principal owner, Michelle Wie, and cash flows from operations. However, current expansion plans will require some borrowing to expand the company’s production line. As part of the expansion plan, Wie will acquire some used equipment by signing a zero-interest-bearing note. The note has a maturity value of $50,000 and matures in 5 years. A reliable fair value measure for the equipment is not available, given the age and specialty nature of the equipment. As a result, Wie’s accounting staff is unable to determine an established exchange price for recording the equipment (nor the interest rate to be used to record interest expense on the long-term note). They have asked you to conduct some account research on this topic. (a) Identify the authoritative literature that provi des guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting. The literature says that you value assets acquired by the value of that asset. If you don’t know it, you are supposed to figure it out, if possible, by looking at the cash price you could have paid (but didn’t). Or, if there is just no way to figure it out reasonably, then you look at the fair value of the item traded, in this case the note. So, you see if there is a market value for the note. Is it traded? Does it bear an interest rate so you can get the present value of it? No! The value of this note isn’t immediately apparent because you don’t have an interest rate to use to discount it back to the present value. So, you have to impute an interest rate (whole other section in the codification!). Another example of difficulty valuing an asset exchange would be when a firm leases, rather than sells, their inventory. What is the selling price? The present value of the minimum future rentals are used to establish a likely selling price for the purpose of re cording the sale and the gross profit from the sale. Another example of difficulty valuing an asset exchange is when assets are traded and there is no cash price or cash exchange. You would use the value of whichever asset is more readily determined, such as the price of the stock on actively traded exchanges. (b) How is present value determined when an established exchange price is not determinable and a note has no ready market? What is the resulting interest rate often called? You have to discern an interest rate by looking at the prevailing interest rates for  similar instruments with firms of similar credit status to this one. This is called the imputed interest rate. (c) Where should a discount or premium appear in the financial statements? What about issue costs? The discount or premium is a contra account to the note receivable on the issuer’s books (reduces assets in the balance sheet). Cost to issue should be spread over the life of the note (capitalized as asset in the balance sheet and amortized over life of note).