Is Galileo considered a hero or anti-hero Essay Example

Is Galileo considered a hero or anti-hero? Paper Galileo Galilei, the central character of Brechts play, is known as one of the most famous scientists of all the times. He was one of the first to study in depth the universe and is known as the Father of Modern Science. I consider a hero a person noted for his acts of courage or noble purpose, especially one who has risked or sacrificed his/her life for the advantages of the human society. Galileo is shown as a hero on the first nine scenes of the play, for his courage to stand up the church and also for his passion and enthusiasm towards his aims. On the other hand, on the following scenes he is exposed with some characteristics of an anti-hero for his irreverence towards the church showing no respects whatsoever towards its privileged leaders and also for his coolness towards his daughter Virginia. Nevertheless, should Galileo be considered a hero or anti-hero for his actions? One of the most important characteristics that make Galileo a hero is his great determination and self-confidence in proving and demonstrating his ideas. He dedicated almost his entire life proving that his discoveries about the universe were right. Although, he knew that it would cost him a lot, he did not gave up the discoveries that he made. This is shown when he says: The sum of the angles in a triangle cannot be varied to suit the Vaticans convenience. P.68 This sentence shows that he refuses to ignore the changes for the sake of compromise on political and religious purposes. Even during the plague, he says: I didnt let the plague stop me from recording my observations, Pg.58 which shows his great determination towards his aim: scientific truth. We will write a custom essay sample on Is Galileo considered a hero or anti-hero? specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Is Galileo considered a hero or anti-hero? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Is Galileo considered a hero or anti-hero? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Galileo is presented as a brave and courageous person who, in order to fulfill his aims went against the authority of the churches. Galileo had a great courage shown by the fact that he was not afraid to put up with the opposition. While the Italian church, scientists and the whole population of that time still held their believes strongly on the Ptolemaic system (which placed the earth in the center of the universe), Galileo explored and found out that the Copernican system of heliocentricism was the real one. The church did not accept his findings because they would look very stupid and according to them it is better to be wrong than to question what they called it the Gods creation. They blindly believed that the earth was in the center of the universe and changing this would mean that people would no longer be in the center of gods eyes. This is strongly supported by Sagredo who says Do you imagine the Pope will hear the truth when you tell them hes wrong, and not just hear that hes wrong? Do you imagine he will merely note in his diary: January 10th 1610-got rid of heaven? Pg.33 The courage he showed to have had grew weaker when the Inquisition forced him to recant publicly his support of Copernicus. He gets arrested and recants his theories, an act this that shows some negative qualities because he refuses to sacrifice himself for the sake of scientific truth. Andrea furious when he finds out claims: Unhappy is the land, that has no heroes. Andrea feels betrayed by this renounce of Galileo who in this scene has a sound change in appearance, giving the impression of having an indecisive and weak character. Galileo is shown as a sensible and reasonable person because he understands that knowledge and particularly scientific discoveries take always time to be accepted. On one of the dialogues Galileo had with the Little Monk, he says Your Campagna peasants are paying for the wars which the representative of gentle Jesus is waging in Germany and Spain p.66 where he blames the church on spending money on wars and not on the well being of the peasant and therefore showing no respect and fairness for these poor and unfortunate people. He says that otherwise they could live in plenty and develop the virtues of happiness and prosperity. Pg.66 This noble character he shows towards the society, is sometimes counteracted by some weaknesses of his like the fact that he himself wasnt very sensible when he took the idea of the telescope from a Dutch scientist. Although, this was a smart and cunning way to earn money he is shown as a dishonest person behaving very hideously for stealing credit for ot hers discoveries. In his personal relations with others, Galileo is shown affectionate and sympathetic towards both Andrea and Mrs. Sarti. However, he alienates and doesnt give any attention to his daughter, Virginia treating her (from the start of the play) in a very careless way. When Virginia asks him if she can have a look at the telescope, Galileo answers in a very unkind way saying What for? Its not a toy, leaving Virginia without words. Here, he behaves in a very unfair and biased way towards Virginia because while he got Andrea out of the bed to show him his discoveries, he treats his daughter in very humiliating and cold manner by making it clear to her that he things she is not a clever person. Also, on the third scene Virginia tries to comfort her father who is worried weather the court will have him or not, by telling him Of course theyll have you, Father, with your new stars and all that. Galileo to this affectionate and caring encouragement answers in a very revolting and unpleasantly cold manner saying to her Run along to your mass. These acts show how unfair and unpleasantly cold he was to his daughter showing no attention and kindness whatsoever towards her. During the plague, Galileo asks a man to bring (me) a small book and bread while the man laughing tells him youll be lucky if u get bread. Here, Galileo is shown very self-centered and irrational because his request is very absurd in that circumstance. He is presented as a very passionate and dedicated person who spent almost his entire life proving that his ideas about the universe were right. He had a great desire for scientific research, a thing this that makes him even more a hero His great enthusiasm and passion towards science, is shown on the conversation he has with his friend Sagredo where he says: The lure of proof is too great. Nearly everyone succumbs to it, sooner or later we all do. Thinking is one of the chief pleasures of the human race. Pg.29 His enthusiasm towards science is also shown on the conversation he has with the Little Monk who suggests to Galileo that the truth will get through without pg.68 their help and Galileo responds the only truth that gets though will be what we force through and he later concludes And the worst thing is that what I know I have to tell people, like a lover, like a drunken, like a traitor, even knowing that it is an absolute vice and leads to disaster.Pg.68 At last, Galileo says I enjoy doing my stuff pg.17 showing once more his great satisfaction and determination towards the scientific research. Galileo has the ability to communicate and explain the most complex ideas with clarity and precision, things these that makes him a very comprehensive teacher. He is shown as a patient teacher and especially with Andrea to whom he teaches and explains all his discoveries in great details. He is also an enthusiastic teacher and this is shown when he praises Andrea for his comprehension saying Very well pg.10 and also giving Andrea good advices like you must learn to think cautiously. Pg.74 He was a great influence to Andrea and this is shown when Andrea quotes Galileos doctrine Someone who doesnt know the truth is just thick-headed. But someone who does knows it and calls it a lie is a crook. Pg. 75 and 95. He lives the discovering of these scientific researches in a very optimistic and joyful way saying: A new time has begun, a time its a pleasure to live in. pg.10 He understands however that knowledge takes always time to be accepted and this is shown when he says I believe in Humanity, which means to say I believe in human reason. If it werent for that belief each morning I wouldnt have the power to get out of bed. Pg.29 Here, Galileo shows his faith in human reason and his optimism that only reason will be able to get the peoples support for astronomical truth. Then, he drops a pebble on the ground (scene 3) showing people that if they believe in the force of gravity seeing it, then they should also believe in astronomy by proofing it. Scene 6 His strong optimism is also shown when he claims that the old days are over, and this is a new time.Pg.6 and also But now the word is thats how things are, but they wont stay like that,Pg.6 both of these showing his great optimism towards him aim but also show him as a combatant of truth and progressivism. In conclusion, I would like to state that in my opinion Galileo Galilei has shown qualities, merits, talent and contributions that make him a real hero. His outstanding abilities, his great courage, his faith in universal truth, his comprehension and reasoning of some complex ideas, his great social concerns of the time and his fighting for the progress in science make Galileo with no doubts a heroic character. His feeble points and weaknesses of his personality, which all humans have, are for the most part minor taking into account his merits. With his famous mythical saying Eppur si muove, (english-and yet it moves) he has remained for the last four centuries as a great hero, which symbolizes that the conviction and confidence towards the truth is stronger than any obstacle.

Importance of Natural Resources essay

Importance of Natural Resources essay Importance of Natural Resources essay Importance of Natural Resources essayNatural resources were historically an important condition of the successful development of countries. The disparity in the access to natural resources predetermined, to a significant extent, the socioeconomic disparity in the development of Northern countries and Southern ones. In fact, the economic and technological development of countries and the difference in their development was driven by the availability of natural resources, which stimulated the development of technology and, therefore, economic progress of those communities and countries, which benefited from the available natural resources and the backwardness of those countries and communities, which lacked natural resources. Even though today the process of globalization makes natural resources available worldwide, but the world economy still depends on natural resources and those countries, which have access to natural resources, especially fossil fuels, such as oil and gas, can keep progressing fast, while those, which have limited opportunities to use natural resources are doomed to backwardness.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Historically, natural resources played the role of the main driver of the economic development of nations (Deudney Flavin 114). For example, coal mining and the availability of iron to Great Britain allowed the country to become one of the leaders in the world economy and conduct its industrial revolution successfully. Similarly the availability of natural resources became the major condition of the successful economic and technological development of other powers, including the US, France, Germany and others (Kraft Kameniecky 158).At the same time, the significant role of natural resources as the major driver of the economic development becomes obvious, when the availability of natural resources, their use and historical socioeconomic and technological development of countries is compared. In this regard, the disparity b etween North and South is particularly obvious (McCormick 214). For example, early civilizations emerged in Northern hemisphere of the world basically due to the availability of natural resources, such as iron ore, for example, which allowed people to start making first tools as well as weapon. At this point, it is worth mentioning early civilizations in Egypt, Mesopotamia, Greece, India and China, which were all located in Northern hemisphere due to the available natural resources, such as iron ores (Best 664). For example, the beginning of the early production of bronze boosted the technological and economic development of those civilizations. The further introduction of iron, steel and other materials based on the use of natural resources accelerated their economic and technological development even more. Moreover, even the early settlement of people were determined by their natural environment and availability of natural resources, such as water and fertile soil, which people us ed for their regular life and basic needs.In the course of time, the role of natural resources increased even more because they became essential for the economic development of nations and fast technological progress (Lewis 245). At this point, it is possible to return to the time of the industrial revolution once again since the industrial revolution would be impossible without rich natural resources available to leading nations, such as Great Britain, France, Germany and the US (McCormick 148). The availability of such natural resources as coal and iron ore allowed them to boost their industrial production and develop transportation system, which, in its turn, accelerated trade within those countries as well as between those countries. At the same time, the rest of the world that had limited access to natural resources remained under-developed and suffered from technological and economic backwardness.The role of natural resources as the major driver of the economic and technologic al development became even more evident in the 20th century, when the traditional major powers, such as Great Britain, the US and others faced the tightening competition from the part of emerging economies of Southeast Asia (Kassman 149). In fact, the successful economic and technological development became possible due to the process of accelerated industrialization with the further transition to scientific, knowledge-based industries. The economic development of nations was therefore determined by the use of natural resources.In this respect, it is possible to refer to the level of the energy consumption in the world in the 20th century as well as today. The energy consumption is the major indicator of the level of economic and technological development of nations (Best 665). So far, the most developed nations have the highest level of the energy consumption, although they are trying to do their best to reduce this level to protect their environment and focus on the sustainable de velopment (McCormick 124). However, the energy is still an essential condition of the successful economic and technological development as well as it is an essential condition of the maintenance of the competitive position of nations in the global economy.At the same time, the lion share of energy in the world is generated by means of using natural resources, especially fossil fuels, like oil and gas. The share of renewable or alternative sources of energy is still low, whereas the major source of energy remains to be fossil fuels (McCormick 195). The availability of fossil fuels becomes the major factor that determines the competitive position of nations in the global economy. At this point, it is possible to refer to the crisis of the mid-1970s, which was triggered by the refusal of the Middle Eastern countries to sell oil at the low price (McCormick 202). This energy war resulted in a profound downturn in the economic development of the US and other well-developed nations. Today, the dependence of nations on fossil fuels is still very significant.On the other hand, the availability of oil and natural gas allow countries to boost their economic development, even if they are mere exporters of natural resources. At this point, it is possible to refer to countries of the Persian Gulf region, which used to be poor, under-developed nations, while today, they have become prosperous, technologically advanced nations that play an important part in the global economy. Their progress was the result of the oil export, which boosted their development and allowed them to increase their role in the world economy since they become the major suppliers of oil to the global market (McCormick 215). At any rate, decisions taken by Saudi Arabia and other oil exporting countries located in the Persian Gulf have a considerable impact on the oil price and situation in the global economy because oil is still the major source of energy, which is required for the fast economic develop ment and maintenance of stable functioning of well-developed economies. In such a way, the oil production and consumption has become the major driver of the economic development in the second half of the 20th century and still remains today. Hence, oil is one of the most valuable natural resources today, which is essential for the normal existence of the modern civilization because without oil the current level of the energy production would be impossible, while the modern civilization will not survive without the high level of the energy production at the moment.On the other hand, oil is just an example of the great significance of natural resources in the economic development of nations. The consumption of natural resources have become a norm that leads to the destructive impact of human economic activities as well as regular, everyday life activities on their environment (McCormick 156). For example, the consumption of timber has triggered the deforestation of many regions of the world that raises the problem of the threat to the natural environment. In addition, the use of natural resources leads to the pollution of the environment but the real problem of the modern world is the dilemma which virtually all countries face. On the one hand, they need natural resources to boost their economic and technological development, whereas, on the other hand, the use of natural resources leads to the further deterioration of the environmental situation.Thus, today, nations need to develop new policies oriented on the wise and effective use of natural resources. However, what proves to be beyond a doubt is the great role of natural resources in the development of nations. Historically, naturally resources played the key part in the economic and technological development of countries and today they still play the crucial part in the development of nations because they determine the competitive position of nations in the global economy.

Information Technology Investment Financial Analysis Essay

Information Technology Investment Financial Analysis - Essay Example The several cost items of IT help desk service are labor cost, material cost, cost of electricity, cost of computer and cost of software. The cost structure of IT help desk service provides several levels of support to focus on the problem. The job of first level support is to identify the adequate information about the problem. The job of second level support is to provide higher technical skills to the first level and the job of third level support is to hire technical specialist to solve the problem within a specified time (Mahoney 1-16). The scope of E-mail service is to provide online services. Anyone can access e-mail through computer, personal laptop and mobile phone. The financial objective of e-mail service is to increase the profit by providing best services to the people along with better convenience (Mahoney 1-16). The function of email service is to exchange messages or information through online for different purposes that include communicating with customers, money transaction and sale of products and/or services (Mahoney 1-16). The various cost items of E-mail service are cost of material, cost of electricity, cost of internet, and cost of computer or personal laptop, which are described as cost of equipment. The cost structure of enterprise system, required for the resources are the cost of product planning, cost of delivery service and cost of marketing (Mahoney 1-16). The scope of enterprise system is related to Supply Chain Management, relationship management and obtaining the objectives of an organization. The financial objective of enterprise system is to increase profit by enhancing financial performance and market value of an organization (Mahoney 1-16). The cost items of enterprise system are cost of material, cost of labor, cost of product and cost of accounts. The cost structure of E-mail service are two types such as cost driven as well as value driven and it focus

Ethics and Professional Code of Conduct Essay Example | Topics and Well Written Essays - 500 words

Ethics and Professional Code of Conduct - Essay Example Integrity ensures that such persons respect the citizens’ constitutional rights, liberty and adhere to the values of justice and fairness in their duties to the citizens (Gaines & Kappeler, 2011, p 345). In this case, the professional is capable of ensuring fairness in his or her duties and refraining from unjust use of authority. Secondly, ethics and integrity ensures that police chief exercises reasonable courtesy while interacting with the public. In this case, the police chief or county sheriff is able to refrain from mocking, embarrassing, ridiculing or humiliating subordinates or fellow officers in order to incite them to violence. Thirdly, ethics and integrity will enable such professionals to observe confidentiality of information that is available to them in their capacity as senior law enforcement officers (Gaines & Kappeler , p 343). The officers should not willfully violate any legal restrictions that restrict the dissemination of the private information and should not disclose information that may endanger the life of a complaint or victim to a crime. There is a clear difference between ethics, morality and law as pertains to the duties of law enforcement officers. Ethics are external standards that are set by the law enforcement profession and are regarded as the social system or framework that should offer the acceptable behavior in the execution of duties of the law enforcement officer (Hess & Orthmann, 2011, p189). Morality refers to the law enforcement officer’s own principles regarding what is right or wrong. Morality is internal as it reflects the habits, beliefs, culture, and religion of an individual while ethics are external since they are set by the profession. Morality is guided by the existing cultural norms while the ethics are guided by the legal and professional guidelines. Dutelle (2011) asserts that the morals are

Business Letter Essay Example | Topics and Well Written Essays - 500 words

Business Letter - Essay Example Our story hereby attests to the deep love, affection and respect for my wife: We had only been married last year, specifically on January 27, 2012. Our love story actually started since we were just in grade three in Zhanjiang Chunhui Elementary school, a private school where students from wealthy families are enrolled. When she transferred to a new school without notice, we lost contact for almost 16 years. I was so disappointed when I could not find a way to know her whereabouts. In these 16 years, I frequently would think about her. Luckily, in 2010, a miracle happened. I accidentally got contact with her through a web application called Renren, it’s a Chinese application like Facebook. We picked up our childhood stories, and she told me she has fallen in love with me when she was still a very little girl. At that time, I really wanted to meet her, but she had to complete co-op work terms as her program required, and I understand my company was just started. I didn’t have any capital so were not qualified to apply a Canadian entry visa. In addition, my father invested over 10 million in my company. I did not want to disappointment my parents. We started long distance relationship since then. In almost two years, we chatted every day through internet or phone. Long distance love is painful and very challenging. Long distance became the main obstacle for our relationship; and in fact, we argued over it frequently and almost caused a break-up. In Christmas of 2011, she completed her second coop work term in Provincial Health Services Authority (PHSA). She finally had a vacation, and traveled back to China on January 1, 2012. I introduced her to my parents, my family, and my friends. We finally got married on January 27, 2012. As a mature adult, I promised to give her better life as she grew up in a wealthy family. Last year, when my hard work got paid off, I have generated enough

The Differences Between International Financial Reporting Standards Ifrs And Current U S Gaap Accounting Essay

The Differences Between International Financial Reporting Standards Ifrs And Current U S Gaap Accounting Essay The differences between International Financial Reporting Standards (IFRS) and current U.S. GAAP are numerous. International Financial Reporting Standards (IFRS) are principles-based Standards, Interpretations and the Framework (1989) adopted by the International Accounting Standard Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS was issued between 1973 and 2001 by the Board of the International Accounting Standard Committee (IASC). On 1 April 2001, the new IASB took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and SICs. The IASB has continued to develop standards calling the new standards IFRS. Generally Accepted Accounting Principles (GAAP) is a term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction which are generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statement. U.S. GAAP and IFRS differ in key ways, including their fundamental premise. At the highest level, U.S. GAAP is more of a rules-based system, whereas IFRS is more principles-based. This distinction may prove more difficulty than it initially appears, because most accounting and finance professionals in the U.S. have been schooled in the rules of U.S. GAAP. The overriding lesson from their years of study and work is this: If you have an issue, look it up. Under U.S. GAAP, voluminous guidance attempts to address nearly every conceivable accounting problem that might arise. And if that guidance doesnt exist, it generally is created. On the other hand, IFRS is a far shorter volume of principles-based standards, and consequently requires more judgment than American accountants are accustomed to. Companies involved in the exploration and development of crude oil and natural gas have the option of choosing between two accounting approaches: the successful efforts (SE) method and the full cost (FC) method. These differ in the treatment of specific operating expenses relating to the exploration of new oil and natural gas reserves. The balance sheet includes items that differ between International Financial Reporting Standards and Generally Accepted Accounting Principles will be addressed first. Balance sheet items include assets (inventory, property, plant and equipment), liabilities (accounts payable and other amounts owed) and equity (ownership interest, usually in the form of stock). Inventory is any item available for sale or used in the production of an item that will be sold. In valuing this inventory, GAAP allows for First-In-First-Out, Last-In-First-Out, Moving Average and Weighted Average. These are the four main methods used. IFRS does not allow the LIFO method. In times of increasing prices and costs, inventory profits may result from using and inventory valuation method other than LIFO. These inventory profits result in improved reported earnings, but because the inventory profits are taxed, they reduce a companys net cash flow. Depending on the system used, inventory values, profits and taxes can be affected. To give you some examples, the financial statements of a company using the LIFO approach as opposed to FIFO generally reflect: * Conservation profits, because LIFO buffers the effects of inflation. * Better matching of current costs with current revenue. * Lower liquidity, that is, a lower current ratio. * Lower equity position, that is, a higher debt-to-worth ratio. (Gibson) IFRS takes this one option away. In addition to this, IFRS required that the same formula be applied to all inventory of a similar nature. GAAP allows for different methods to be used. Asset retirement during the production of inventory is accounted for as a cost of the inventory using IFRS rules. Whereas, GAAP allows for it to be added to the carrying amount of the property, plant or equipment used to produce the inventory. With IFRS this cost will stay with the balance sheet. GAAP would move it to depreciation which lowers earnings but increases free cash flow. A write-down of an asset is reducing the book value if it is overstated compared to current market values. If a need arises to reverse a write-down, IFRS allows it and GAAP does not. GAAP does not allow the revaluation of property, plant and equipment. It uses historical cost. IFRS, on the other hand, allows either historical cost or revalued amount (fair value at date of revaluation less subsequent accumulated depreciation and impairment losses). The rules concerning residual value have some differences too. Residual value is the amount you expect to be able to sell a fixed asset for at the end of its useful life. IFRS calculates it as the current net selling price and it may be adjusted upwards or downwards. GAAP calculates it as the discounted present value and it may only be adjusted downward. Next, items such as depreciation and leases will be addressed. Since these items are expenses, they will affect the income statement. Depreciation is an expense that reduces the value of an asset as a result of wear and tear, age or obsolescence. IFRS requires more work when depreciating items. Depreciation of assets with differing patterns must be depreciated separately. This means that each item would have to be accounted for separately. GAAP allows this but it is not required. With GAAP, all the depreciation would be able to be grouped together and listed as a total requiring fewer entries. When capitalizing an asset, GAAP only allows interest. IFRS includes interest, certain ancillary costs and exchange differences that are regarded as an adjustment of interest. Being able to include these costs will increase the value of the asset and provide for more depreciation. Land and building leases is another topic where differences occur. IFRS considers land and building separately and GAAP considers them as a single unit unless land represents more than 25% of the total fair value. A couple of other items worth mentioning are contingent assets and extraordinary items. Contingent assets are assets in which the possibility of an economic benefit depends solely upon future events that cant be controlled by the company. Due to the uncertainty of the future events, these assets are not placed on the balance sheet. However, they can be found in the companys financial statement notes. These assets, which are often simply rights to a future potential claim, are based on past events. An example might be a potential settlement from a lawsuit. The company does not have enough certainty to place the settlement value on the balance sheet, so it can only talk about the potential in the notes. IFRS does not recognize contingent assets, GAAP does. Extraordinary items include the sale of the subsidiary or the payment of a lawsuit. Extraordinary items are a liability that is unusual or infrequent in its occurrence. IFRS prohibits extraordinary items and GAAP allows them. Although rare and infrequent, extraordinary items can be substantial and being able to include them can have an impact on your financial statements. As you may be able to tell, both have their advantages and disadvantages where compared to the other. There are some items in which benefits are drawn from IFRS and others that GAAP provides. There is an ongoing effort to address the differences and come to a consensus. At some point, the two different set of rules may be combined into one universal system. Works Cited Deloitte. IFRS and US GAAP: A Pocket Comparison. July 2008. IASplus.com. Gibson, S.C. LIFO vs FIFO: A Return to the Basics. Oct. 2008. The RMA Journal. Hughes, S.B. and Sander, J.F. A U.S. Managers Guide to Differences Between IFRS and U.S. GAAP. 2007. Management Accounting Quarterly. Kumar, S. Differences Between IFRSs and US GAAP. 26 July 2006. Caclubindia. PriceWaterhouseCoopers. IFRS and US GAAP: Similarities and Differences. Sept 2008. PWC.com. Inventory IFRS information on inventory can be found in IAS 2 and in Chapter 8 of the Wiley IFRS 2010 book. GAAP information on inventory can be found in ASC 330 and in Chapter 9 of the Wiley GAAP 2010 book. GAAP Definition (ASC 330-10-20): The aggregate of those items of tangible personal property that have any of the following characteristics: a.) held for sale in the ordinary course of business; b.) in process of production for such sale; c.) to be currently consumed in the production of goods or services to be available for sale. IFRS Definition (IAS 2): Items that are held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services. GAAP IFRS |Allowable costing methods include FIFO, average cost, and LIFO |Allowable costing methods include FIFO and the weighted-average | | |cost. LIFO costing is prohibited | |Presentation at lower of cost or market required |Presentation at lower of cost or net realizable required | |Only in rare instances (mining of gold, etc.) are presentation |Certain defined situations, including agricultural products, | |at fair value in excess of cost permitted |permit reporting at fair value in excess of actual cost | |Lower of cost or market adjustments cannot be reversed |Lower of cost or market adjustments must be reversed under | | |defined conditions | |Recognition in interim periods of inventory losses from market |Recognition in interim periods of inventory losses from market | |declines that reasonably can be expected to be restored in the |declines that reasonably can be expected to be restored in the | |fiscal year is not required |fiscal year is required | Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale (IAS 2). Presently, there are two sets of accounting standards accepted for international use U.S. GAAP and the International Financial Reporting Standards (IFRS). US GAAP or simply GAAP are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly-traded and privately-held companies, non-profit organizations, and governments. The Financial Accounting Standards Board (FASB) is a private, not-for-profit organization whose primary purpose is to develop GAAP within the United States in the publics interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. On the other hand, the second set of accounting standard is IFRS (International Financial Reporting Standards), which is issued by the International Accounting Standards Board (IASB), based in London. Nearly 100 countries use it or coordinate their financial instruments. These countries or groups of countries include the European Union, Australia, and South Africa. While some countries require all companies to adhere to IFRS, others merely allow it, or try to coordinate its own countrys standards to be similar. The IASB is working toward this goal in a partnership with some of the most influential accounting standard-setters across the globe. The globalization of business and finance has led more than 12,000 companies in more than 100 countries to adopt IFRS. In the United States, the Securities and Exchange Commission (SEC) has been taking steps to set a date to allow U.S. public companies to use IFRS, and perhaps make its adoption mandatory. In fact, on November 14, 2008, the SEC released for public comment a proposed roadmap with a timeline and key milestones for adopting IFRS, beginning in 2014. IFRS website states that the convergence between IFRS and US GAAP brings some benefits. Growing interest in the global acceptance of a single set of robust accounting standards comes from all participants in the capital markets. Many multinational companies and national regulators and users support it because they believe that the use of common standards, in the preparation of public company financial statements, will make it easier to compare the financial results of reporting entities from different countries. They believe it will help investors better understand opportunities. Large public companies with subsidiaries in multiple jurisdictions would be able to use one accounting language company-wide and present their financial statements in the same language as their competitors. Another benefit some believe is that in a truly global economy, financial professionals, including CPAs, will be more mobile, and companies will be able to easily respond to the human capital needs of their subsidiaries around the world. According to aicpa.com, the most important specific differences between IFRS and U.S. GAAP are: à ¢Ã¢â€š ¬Ã‚ ¢ IFRS does not permit Last In, First Out (LIFO) à ¢Ã¢â€š ¬Ã‚ ¢ IFRS uses a single-step method for impairment write-downs rather than the two-step method used in U.S. GAAP, making write-downs more likely à ¢Ã¢â€š ¬Ã‚ ¢ IFRS has a different probability threshold and measurement objective for contingencies à ¢Ã¢â€š ¬Ã‚ ¢ IFRS does not permit debt for which a covenant violation has occurred to be classified as non-current unless a lender waiver is obtained before the balance sheet date Based on my research, I have read from some SEC and AICPA critics and also individuals in favor of the introduction of IFRS in U.S. Most of common critics against the adoption of IFRS focus on similar areas. Remi Forgeas, a CPA states in article published in AICPA website his critics: The usual difference noted between GAAP and IFRS is that the former is rule-based whereas the latter is principle-based. This principle-based concept generates concerns that it will be more difficult for a preparer to defend its position in case of litigation. Another point for discussion is the risk to see the standard setter becoming less independent and/or that the U.S. having less control on their accounting standards. The cost and the duration of the transition are often presented as a major hurdle, especially in this difficult economic environment. The complexity of the transition and then its cost will depend for the most part upon the completion of the convergence. The convergence process is expected be completed in 2011. Assuming the SEC decides on 2015 for the year of transition, changes for companies should be less complex, since both standards will be converged. Finally, the last issue is the human factor: are the preparers, users, auditors à ¢Ã¢â€š ¬Ã‚ ¦ experienced enough in IFRS? There is no doubt that specific training will be required to ensure IFRS are known by various categories of people dealing with IFRS. Focusing on the situation today is probably not the right approach: true there is today a lack in knowledge, but the situation is evolving rapidly. People favoring the introduction of IFRS in the U.S. states that the harmonization of financial reporting around the world will help raise the confidence of investors, generally, in the information they are using to make their decisions and assess their risks. The opposite is perhaps the clearer case. If accounting for the same events and information produces radically different reported numbers, depending on the system of standards that are being used, then it is self-evident that accounting will be increasingly discredited in the eyes of those using the numbers. For those companies with joint listings in both America and another country, there should be substantial savings, particularly in terms of preparation costs. Avoiding the burdensome U.S. GAAP reconciliation statement, required at present, would be a worthwhile prize. The good reasons why convergence with the U.S. should be pursued has been noted. There is, however, a downside to all of this for IFRS many people also believe that U.S. GAAP is the gold standard, and something will be lost with the full acceptance of IFRS. Other disadvantages are as follows: à ¢Ã¢â€š ¬Ã‚ ¢ Extra costs in the preparation of financial statements by all IFRS companies implementing new requirements and restating previously reported numbers. à ¢Ã¢â€š ¬Ã‚ ¢ Changes have to be communicated and understood by all of those involved in preparing the accounts, auditing them and using them. à ¢Ã¢â€š ¬Ã‚ ¢ Translations of the amended standards are required for the many languages in which IFRS are applicable. à ¢Ã¢â€š ¬Ã‚ ¢ The changes have to be approved by the various national endorsement authorities and often incorporated into their legal systems. à ¢Ã¢â€š ¬Ã‚ ¢ Continuous piecemeal changes undermine the reputation of IFRS. Some might justifiably ask why high quality standards need such frequent amendments. WORKS CITED AICPA IFRS Resources ifrs.com December 11, 2010. Web Accounting Standard Codification fasb.org December 11, 2010. Web Epstein, Barry. Nach, Ralph and Bragg, Steven GAAP 2010. New Jersey: Wiley, 2009. Print. United States Accounting Standards vs International Accounting Standards June 21, 2009 Introduction This research project will inform the reader of the difference between the United States accounting standards and International accounting standards. The United States uses the Financial Accounting Standards Board (FASB) to issue financial reporting procedures. The International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB). There are proposals for the United States to adopt the International standards. Financial reporting procedures are debated about the United States using the Generally Accepted Accounting Procedures (GAAP) or following the global procedures. This project will also examine, compare, and contrast this debate. Discussion of Topic In an article by Heidi Tribunella (2009), U.S. GAAP is considered rules based. Rules-based accounting standards, on the other hand, give strict rules that must be adhered to in order to properly account for particular transactions. For example, lease accounting in the United States gives four criteria for determining if a lease is a capital lease. If a lease contains any of the following, then it is considered a capital lease and must be accounted for as such: 1 ) a bargain purchase option; 2) ownership transfers at the end of the lease; 3) minimum lease payments with a present value of at least 90% of the FMV of the asset; or 4) a lease length of at least 75% of the economic life of the asset. This is an example of very specific rules for accounting for leases (Tribunella, 2009). Tribunella (2009) goes on to explain International accounting standards, International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB), which was created in 200l. Previously, the International Accounting Standards Committee (IASC), founded in 1973, issued International Accounting Standards (IAS). When the IASB was created, it adopted the IAS and continued the work of the IASC (Tribunella, 2009). Gary K. Meek and Wayne B. Thomas (2004) explain the influence of the IASB on the global reporting standards including the U.S. GAAP. In 2000, the International Organization of Securities Commissioners (IOSCO), of which the SEC is a member, recommended to member countries that IASC standards be used in cross-border offerings and listings. The enforcement of International Financial Reporting Standards (IFRS) by exchange regulators will be crucial to the eventual acceptance of the IFRS around the worldà ¢Ã¢â€š ¬Ã‚ ¦In October2002, the IASB and the Financial Standards Accounting Board (FASB) issued a memorandum of understanding, which formally stated their commitment to the convergence of IFRS and U.S. GAAP (Meek and Wayne, 2004). Jose Marrero and Thomas Brinker (2007) explain the efforts of the IASB and the FASB to merge their practices. Over the last two decades, research indicates that developing a framework of global accounting standards favors the recognition of culture. Cultural differences will impact a nations final consensus regarding accounting standards. However, after years of discussion, a solution to the dilemma of merging culture or international cultures and accounting standards has yet to be found. Currently, the International Accounting Standards Board (IASB) and the FASB are working on a principle-based framework for global financial reporting standards the cooperation of both the IASB and FASB will yield a uniform body of accounting standards allowing financial and investment advisers to view global investment opportunities on a more level playing fieldà ¢Ã¢â€š ¬Ã‚ ¦ (Marrero and Brinker, 2007). They also point out why certain business owners may not want to follow global practices, Further, business owners are unwilling to abandon their localized business practices to appease the accounting standards imposed on the multinational companies, much less their bookkeeping and financi al reporting standards to the jurisdiction of a U.S.-dominated accounting standard board (Marrero Brinker, 2009). David Bogoslaw (2008) talks about the convergence in further detail, The uproar over fair value accounting practices, which some critics have blamed for the depths of the global financial crisis, threatens to sink a long-sought move by countries around the world toward a single set of international financial reporting standards (IFRS). The U.S. Financial Accounting Standards Board (FASB) has been working with Londons International Accounting Standards Board (IASB) since 2002 toward what accounting professionals call convergence. The Securities Exchange Commission (SEC) is expected to announce its road map for conversion sometime this month, which will probably include early adoption in 2010 for about 110 of the largest U.S. companies with business operations throughout the world. The key difference between U.S. Generally Accepted Accounting Principles (GAAP) and IFRS is that U.S. standards are based on explicit rules while the international standards reliance on principles gives companies more room to use their judgment in deciding how to recognize r evenue and other key metrics. Adoption of IFRS would also probably trigger a big tax hike for U.S. companies, which would no longer be able to use the last-in-first-out [LIFO] inventory accounting method, which doesnt exist under the international standards. The LIFO method assumes that goods purchased most recently are sold first and that the remaining items have been purchased at earlier periods, yielding a lower gross profit during high-inflation periods than the first-in-first-out accounting method (Bogoslaw, 2008). The main debate over switching accounting practices is further explained by Bogoslaw (2008) by stating, The debate over switching to accounting standards based on something less explicit than rules comes down to questions about whether the less explicit standard will provide adequate protection against lawsuits, says James Leisenring, director of technical activities in research at the FASB. You cant understand the debate about gratuitous vs. obligatory guidance (within IFRS) until you understand the litigation system in the U.S., where companies are more concerned about getting sued than in other parts of the world, he says. What its really about is safe harbors. What (IFRS skeptics) really want to know is if I do it in a particular way, am I home free or not? The explicit rules under GAAP may appear to offer safety, but the downside is there are so many of them that the odds of missing one or two are greater, he says. From Leisenrings perspective, the big accounting firms that are drawn to IFRS believe theyll get sued less since it will be harder to point to their mistakes. White agr ees that some companies like the freedom allowed under IFRS to interpret standards to suit their convenience, which undercuts auditors ability to prohibit certain accounting choices (Bogoslaw, 2008). Bogoslaw (2008) explains two sides of the criticism this switch has been receiving. Many are for it, but some are against it. The most strident critics of migration to IFRS argue that the primary goal of the SEC and U.S. Treasury Dept. is attracting capital to U.S. markets, rather than ensuring that the highest quality accounting standards prevail. While attracting more capital to the U.S. is a valid business objective, its not clear we can do that by going to international financial reporting standards, says Ashwinpaul Sondhi, president of A.C. Sondhi Associates in Maplewood, N.J., who has served on CFA Institute committees. Paul Miller, a professor of accounting at the University of Colorado, would prefer to have competing standards, since the only standards all countries would be able to agree on would be very weak ones. He also believes a unified set of standards, rather than being helpful, would stifle much-needed innovation given that most of the existing accounting standards are more than 60 years old (Bogoslaw, 2008). Adam Pieniazek (2007) wrote in a research paper about the comparison and contrast of U.S. GAAP and International Accounting standards, Due to the uncertainty of what the future American accounting standard will be, individuals and organizations in the US, would rather have the FASB pick one of the options and declare that it will stick with it, rather than debate for eons over the positive and negative aspects of the principles and rules based approach. As many prominent countries are already using the International Financial Reporting Standards, the representatives of American accounting must act now to align us with the IFRS; otherwise we face potentially being shut out from the formation process of these standards which will affect all international companies. The FASBs cooperative work with the IASC will result in a true Global GAAP; once the IFRS is aligned with the U.S. GAAP system, the American companies will issue statements according to the IFRS, as the SEC has declared that it will remove the reconciliation requirement once it is satisfied that IFRS are of a sufficient standard. The completion of convergen ce will be a boost to the global economy, and inherently, all underlying economies, as it will standardize the practice of accounting, allowing more work to go into principles and theory research, and increase the pool of available and applicable accountants. No longer will investors have to reconcile financial statements to an accounting style they are familiar with and neither will accountants have to prepare statements differently in various countries (Pieniazek, 2007). Conclusion United States Accounting Standards and International Accounting Standards are two different practices in financial reporting, that come from different bases. These two practices are being worked on to converge and use a Global accounting standard. This convergence is creating much criticism. There are many countries that are currently using the International standards, and many more are starting to join. The FASB and IASC are working together to converge by 2010. This convergence will also make it easier for accounts to prepare financial statements reporting United States and International transactions.

Essay on Variety in The Merchants Tale -- The Merchants Tale

Use of Variety in The Merchant's Tale  Ã‚   The Merchant's Tale tells the story of an old man searching for a wife and finding one, who is ultimately unfaithful to him. Chaucer uses a variety of elements in the poem to show his knowledge of contemporary interests and his story telling capacity through another figure. Irony flows through the poem, laced with allusions to the Bible. Chaucer's use of his astronomical knowledge not only allows modern day scholars to date events, but also adds another dimension of interest for the contemporary audience and of course, the pilgrims. Januarie's discussion of Heaven and Hell leads to the idea of marriage providing a Heaven on Earth. It is said that a wife is a husband's "paradis terrestre, and his disport" (l. 120), but at the introduction of the idea of a paradise, the reader can begin to contemplate the introduction of a serpent at a later point. Chaucer uses heavy irony as Januarie worries about experiencing his only Heaven on Earth. It becomes evident that May is anything but his Heaven. Her behaviour with Damyan in the pear tree is reminiscent of the story of Adam and Eve and the temptation of the apple tree as Damyan has become the serpent in Januarie's paradise of wedded bliss. The Biblical allusions that are used in the Tale have the effect of broadening the moral behind the story. By using the irony of the Biblical stories along with the thoughts of Januarie, a contemporary audience would have quickly perceived that there would be trouble with the marriage, as they would have been relatively well versed on the Bible. The priest at the marriage ceremony "bade [May] be lik Sarra and Rebekke" (l.492). While these two figures are held up as examples of holy and virtuous wom... ... the possibility, says Maurice Hussey, that Chaucer knew that St. Damian was the patron saint of medicine, thus giving ironic undertones to the sight-healing excuse for the pear tree tryst. Geoffrey Chaucer used many different aspects of his wide knowledge when writing the Merchant's Prologue and Tale. Biblical references and parallels with and inclusions of mythological characters are evidence of this. The appeal of such references to a medieval audience is extended with the inclusion of detailed and seemingly accurate astronomical minutiae. These details provide another level of information about the characters and their fates, such as the future of the marriage - it having been performed when the planet of war and the planet of love were in conjunction. Around these imaginative inclusions weaves a line of irony and a use of contemporary views and literature.

Human motivation Essay

In studying human motivation, one of the key concepts includes the notion of needs and drives which may be the spring boards of actions or behavior. In line with these, efforts were exerted to look into the possible link of control of one’s impulsivity and certain critical behaviors that may affect any individual undertaking, his normal development through life’s stages, and possibilities of disorders or problems with the person’s overall functioning (Baumeister et al. ; Mischel et al, 1989). There is an offshoot of these studies (Hom and Knight, 1996) which highlights delayed gratification and the advantages of individuals who understand either by training or by serendipitous circumstances the rationality of their choices. Delaying the gratification of certain desires at the present entails certain calculations of the possible effects of these options at a certain point in the future. It involves the understanding of â€Å"profiting† from what the self is deprived of at the present to secure a better output or outcome in the near future. According to studies, a person who has been reared to control many of the urges to satisfy immediate needs or wants, may reap immense benefits in terms of significant life choices; choices that spell longevity (living physically healthy), prospect of better income, and healthier relationships. There are various reasons offered why this is so, but more often, the results of these choices to delay gratification oftentimes reveal the benefits; otherwise, when immediate satisfaction is allowed in most cases, the awareness of detrimental effects becomes a stark reality. The issue pertains to persistence, control, character development, cementing of values that enables a person to become an asset rather than become a liability to one’s community. Implications of a person’s ability to delay his or her immediate gratification (because of the prospect of more favorable results later) include responsibility over his/her actions and decisions and thereby increasing awareness of consequences including those which not only impact his/her own survival but also the effects of his/her decisions and actions to the people around (Mischel et al, 1989). References: 1. Baumeister, Roy, Brandon Schmeichel,Kathleen Vohs. Self-regulation and the Executive function: The Self as controlling agent. Accessed October 13, 2008 http://72. 14. 235. 104/search? q=cache:qpSCcMZijV0J:www. csom. umn. edu/assets/71708. pdf+Explain+the+value+and+importance+of+delayed+gratification+in+human+motivation&hl=tl&ct=clnk&cd=46&gl=ph 2. Hom, Harry, Jr. Heather Knight, 1996. Delay of Gratification: Mothers’ Predictions about Four Attentional Techniques; Journal of Genetic Psychology, Vol. 157. 3. Mischel, W. , Shoda, Y. & Rodriguez, M. L. 1989. Delay of gratification in children. Science, 244, 933-938.

WONDERFUL CREATIONS Essays - Spider Families, Spider, Argiope

WONDERFUL CREATIONS Essays - Spider Families, Spider, Argiope WONDERFUL CREATIONS God created everything so perfect, at His image and took the time to give marvelous details to each creature. From the smallest animal that its ever been found, to the gigantism creatures that astonish every mans eye, Gods creation is more than amazingly formed. There are plenty creatures that are interesting to learn about, but spiders are one of those creatures that delight anyone whose desire is to appreciate Gods wonderful work. There are three special kinds of spiders that are wonderful created which are the wolf spider, the black and yellow garden spider (or the zipper spider), and the araneomorphae (also called the labidognatha). The first incredible spider is the wolf spider. This spiders is about 3.5 centimeters body size and they consist of eight eyes that are arranged in three rows. Four small eyes are at the bottom, two large ones in the middle which distinguishes them from other species, and two medium size at the top row. According to the book, Spiders and Their Kin (Levi 1921), Wolf spiders carry their egg in a unique way by attaching their egg sac in their back until the eggs hatch. Another special characteristic this spiders have is that they will waive their legs and dance before their mates with the purpose to be chosen for mate. In addition, the male will wrap an insect in his silk to give to the female and if the female chooses not to eat the male but the insect instead, then they will mate. The female may still decide to eat the male before he gets away. The second incredible spider is the black and yellow garden spider (or the zipper spider). This fantastic spiders body size is from 0.20 in to 0.35 in for males and 0.75 in to 1.10in for females. According to the book, Spiders and Their Kin (Levi 1921), it has been recorded that the zipper spider can make up to seven different kind of webbing. The most interesting thing is that the zipper spider shoots out streamers of webs in the air and wait for the wind to catch them and use it to travel to any random place they decide to go. People have found this spiders about 15000 feet up in the air. The third and last is the labidognatha, also called araneomorphae. The labidognatha are a suborder of spiders. They are distinguished by other spiders due to their fangs are oppose to each other and cross shape in a gripping action. The labidognatha, according to the book, Spiders and Their Kin (Levi 1921), they are the most common spiders in earth that they are found even in the Arctic. The zipper spider, the wolf spider, and the labidognatha spider are wonderful creatures made by God. To have a better understanding of Gods power and his mighty work, these creatures are greatest examples that we can used to study to close experience of the love of God through His creation. REFERENCES Levi, Herbert Walter, Lorna R. Levi, and Herbert Spencer Zim. Spiders and Their Kin (Golden Guide). Racine: Western, 1921. Print.

Comparative Essay essays

Comparative Essay essays Comparative Essay on The Moonstone and The Great Gatsby A novel is a classic when considered to be historically memorable, and has lasting interest or significance. It can also be called classic if it is the first of its kind, or includes special literary or historical associations. When The Moonstone was first published, T.S. Elliot touted it as the first, the longest, and the best of all English detective novels. The Moonstone is a sacred Hindu diamond, stolen from India, and is bequeathed to Rachel Verinder on her 18th birthday. However, on the night of the party, it vanishes. The reader finds out in a dramatic turn of events if the jewel was in fact stolen, or merely lost. The Moonstone by Wilkie Collins is the first English whodunit novel. Published in 1864, it is the forerunner of later whodunits, such as by famous author Agatha Christie. This in its own makes The Moonstone a classic novel, the first of its kind. The novel is also very skillfully set out. Collins tells the story in narratives by many different characters with their own separate personalities and perspectives, as opposed to the simpler idea of one main narrator or a third person view. This allows the reader to have multiple viewpoints of the same events. Seeing the various views in which the reader is privy to, there seems to be no motive to steal the diamond, therefore making it harder to suspect a single character. This keeps the readers interest on the story and plot development. The classic Victorian English stereotype is best portrayed by Gabriel Betteredge. In times of need, he refers to Robinson Crusoe, a novel relating to British imperialism. He sees everything non-British as foreign and evil. For example, he views the un-British-like outbursts by Franklin Blake as foreign gibberish. He is also reluctant to do anything he doesnt understand, as with the laudanum experiment Erza Jenn...

Japanese Economy Essay Example | Topics and Well Written Essays - 2750 words

Japanese Economy - Essay Example An important indicator of that achievement is that Japan continues to be the only non-western nation to have had the ambition of ruling the world and the only non-western country to have implemented a policy of attempting to subjugate the whole world in modern history. Japanese economy has been described as a success in 1980s but the decade of the 1990s was a lost decade. However, data indicate that situation may have to be more accurately described. For instance, in Figure 1, we see that if gross domestic product or GDP per capita figures are not adjusted for inflation, it would appear that Japanese economy appears to be alright until the mid-1990s. However, beginning in the mid-1990s, the Japanese economy appeared to have plunged downward and started to recover sometime at the beginning of the 21st century, if not for the Fukushima nuclear and tsunami disasters of 2011. Figure 1 is a graph from the website of the Intellectual Takeout while Figure 2 is my own reconstruction of Japan’s GDP in $ at current prices based on data set of the International Monetary Fund. At least for Japan, the insight that can be obtained based on the GDP per capita in $ is that the key insight that can be developed from Figure 1 is correct: Japanese economy was on a steady rise from 1980 to around 1995 but nose-dived before slowly recovering upward. Figure 3 compare the GDP per capita in current US$ of select countries and compare them with Japan. It is worth noting that Figure 3 suggests that in terms of GDP per capita, the overall context is that Japan still belongs to the bigger league of strong nations although Japan has been weaker in the last several years. In contrast, China may be a big economy (and some report the economy as the second biggest economy) but in GDP per capita dollar terms, the citizens of Japan appear to be in a better situation than China. Meanwhile, the key insight that can be derived from Figure 4 is that globally, the

Hong Kong Law of Tort Essay Example | Topics and Well Written Essays - 3000 words

Hong Kong Law of Tort - Essay Example The mother, after witnessing the series of events, called her husband Ben, the stepfather of Elizabeth who came one hour after. He collapsed after seeing the bandages on Elizabeth. John, brother of Elizabeth after being notified, came one day after incident. All three persons, Lucy, Ben and John, suffered from shock after the incident. The idea of negligence is a product of hundred of years of law making. Until the present, the idea of negligence is still very much open to interpretations by the court. Although there have several attempts in the past to come up with criteria for negligence, the‘ categories of negligence are never closed.’1 Although the courts wanted a rule by which to judge conduct, they wanted the rule to be flexible enough so that the rule could be applied in various circumstances. Lord Atkin in Donoghue v Stevenson, the courts were initially quite reluctant to apply it as a criterion of general application in every case of negligence. Instead, they ad opted a case by case approach, thus restricting the imposition of liability to only few situations of negligence. 2 Negligence is generally defined as the failure to use ordinary care. A person fails to use ordinary care if he/she does something that a person of ordinary prudence would not have done under the same or similar circumstances. Failure to use ordinary care can also occur by omission, or failing to do something which a person of ordinary prudence would have done under the same or similar circumstances. Negligence, then, is a judgment of both acts and omissions.