Identify the Differences Between a Cash Flow Statement and a Profit and Loss Account Essay Example for Free

Identify the Differences Between a Cash Flow Statement and a Profit and Loss Account Essay There is undoubtedly, a clear difference between what is termed â€Å"cash† and what â€Å"profit† is and by extension a cash flow statement and a profit and loss statements. Notwithstanding these differences, each statement gives a different yet important view of organisational performance. Cash according to Holmes et al 2005:166 is â€Å"cash in hand and deposits repayable on demand less overdrafts repayable on demand; i.e. they can be withdrawn at any time without penalty. Cash includes cash and deposits denominated in foreign currency. † Once, accounts were comprised of just the balance sheet and the profit and loss statements. However in the late 1960’s, a period characterised as a high inflationary period, it was felt that historical costing convention which is indicative of the profit and loss account, provided information that was outdated and as such provided little insight on the current market value of companies and by extensions their profits. Therefore, there became a need for an additional statement- the cash flow statement. â€Å"A cash flow statement is a statement produced either for management or external reporting purposes showing, by broad categories cash receipts and payments in a period† (Leicester, 2001. 10.3), and is intended to supplement the profit and loss account and the balance sheet. The cash flow statement therefore, assists creditors, investors and generally all stakeholders in evaluating the liquidity and solvency of a business or rather, shows changes in cash be it negative or positive i.e. cash outflows and cash inflows. The Cash flow statement is divided into three main sections: 1.Core operations (operating activities) 2.Investing 3.Financing A typical cash flow statement can be seen in Appendix B. Cash flows from operating activities generally include transactions that are associated with the calculation of income. It also includes items which are involved in the production or purchase of merchandise, the sale of good and/or services to the organisation’s customers and expenditure relating to the general administration of a business. Under the broad heading of investing activities, are found important element relating to cash flow in an organisation. These transactions involve making and collecting repayments on loans, purchasing and selling of plant assets and other productive assets. All other investment activities are generally classified under this heading. â€Å"Changes in debt, loans or dividends are accounted for in cash from financing. Changes in cash from financing are ‘cash in’ when capital is raised they’re ‘cash out’ when dividends are paid. Thus if a company issues a bond to the public, the company receives cash financing. However, when interest is paid to bondholders, the company is reducing its cash.† (Heakal, 2004) It is now important that the issue of profit and the profit and loss account be examined. Profit by definition is the excess of revenue over expenditure. Revenues are increases in the company’s assets from its profit-driven activities, resulting in positive cash flows (inflows). Conversely, expenses are decreases in the company’s assets from its profit-driven activities, which results in negative cash flows (outflows). Net income/profit is therefore, the difference between the two. According to Williams et al 2002:54 if a company’s expenditure exceeds income then the difference is a net loss, suggesting that the enterprise has suffered a loss. Alternatively if the company’s income exceeds its expenditure the difference is a net profit. â€Å"The profit and loss account is a financial statement which shows the profit (loss) made by a business during a defined period of time (normally one year). The account also shows the uses to which the profit has been put (or how losses were financed).† (Jewel 1998:327) Sometimes referred to as the revenue account, the profit and loss statement is divided into four parts: 1.How the profit (loss) was earned 2.The expenditure for the period under review 3.How much was taken by taxation 4.What happened to the profit (or loss) that was left after taxation Appendix A shows a typical profit and loss account. It is a truism that a business must make a profit in order to be successful. This is imperative since profits are needed to pay out dividends to shareholders in the case of a company and to reward partners of proprietors in the case of a sole trader or a partnership. Irrespective of the form of business organisation, â€Å"some profits are retained within the business as reserves or as proprietor’s funds, to finance the development and growth of the business† (Leicester 2001, 3.45). Consequently, although a business can experience occasional losses, it is imperative that it be profitable in the long run. A loss signifies that the value of resources used up in a period to generate sales/revenue is more than the sales/revenue generated in that period. These lose as a result, cause a reduction in the overall value of a business and can eventually lead to the collapse/liquidation of the organisation. When an organisation publishes its profit and loss accounts and a profit is shown, users of the statements may think that the business has â€Å"cash† and in turn expect different benefits. The Shareholders for example, might believe that if the company makes a profit after tax of say $200,000 then the company is in a position to pay out dividends. Similarly, employees might believe that the company can afford an increase in wages in the subsequent year. The fact is â€Å"profit does not always give a useful or meaningful picture of a company’s operations. Readers of a company’s financial statements might even be misled by a reported profit figure† (ACCA, paper 1. 1 Study text June 2003, 360). The fact is that profit does not necessarily mean an increase in cash. For example, an oil company on presenting its final accounts may show a large profit figure primarily because of large amounts of stock which it holds. Although the company may be profitable, it may be experiencing serious cash flow problems. Too much stock therefore according to many writers is tied-up cash and should be avoided as much as possible. Cash therefore according to Larson and Miller 1992:726 â€Å"is the lifeblood of a business enterprise. In a sense, cash is the fuel that keeps a business alive. With cash, employees and suppliers can be paid, loans can be repaid and owners receive dividends. Without cash, none of these things can happen. In simple terms, a business must have adequate amounts of cash to operate.† Hence, profits/losses shown by the profit and loss account and net cash inflow/outflow shown by the cash flow statement do not represent the same thing. Therefore, when businesses are profitable, which is a long-term requirement; it must pay in cash, its goods and services, capital equipment, the workforce and for that matter, all expenses incurred in the line of the business’ operation. If cash is not available to pay these expenses when the fall due, the business will slowly lose its goodwill, employees, suppliers and it will be forced into liquidation as was previously suggested. 1.If a non-current asset is purchased an outflow of the full amount is shown under Investing Activities in the cash flow statement for that period but only depreciation, which is part of the cost of that asset, is shown in the profit and loss account. This depreciation amount is not shown in the cash flow statement since it is not an actual movement of cash. The profit and loss statement therefore, attempts to spread the cost of the assets over its estimated useful life by a depreciation charge every year until it is expensed. By so doing the cost of the asset is not absorbed in the accounts in one year as is done by the cash flow statement, but over a period of time. 2.When shares are issued and cash is received from the sale, the cash flow statement will show this as a source of cash i.e. a cash flow under Financing Activities but this transaction does not have any effect on the profit and loss account. Similarly, if a loan is obtained, this is reflected as a cash inflow under financing activities but has no effect on the profit and loss account until subsequent interest charges have been made then it is shown. The same is also applicable for businesses which enjoy the overdraft facilities accorded to them by commercial banks. 3.After the sale of a non-current asset the profit or loss which is the difference between the sale price and the net book value of the asset is recorded in the profit and loss account while the entire proceeds is recorded in the cash flow statement as an increase in cash inflow under investing activities. Thus, while the cash flow statement shows inflow of cash, the profit and loss account may show a loss on disposal of the non-current asset simply because the asset was sold less than the net book value consequently representing a loss which the company has made. 4.The profit and loss account reports the total value of sale in a year less the cost of sales (â€Å"the costs directly associated with making or acquiring your products. Costs include material purchased from outside suppliers used in the manufacture of your product, as well as any internal expenses directly expended in the manufacturing process.†BusinessTown.com 2003) which is profit. Operational cash flow is the difference between cash received and cash paid from trading. If there are credit sales (receivables), cash received will differ form the value of the sales and conversely cash paid will differ from the cost of sales if there are credit purchases (payables). The difference therefore, between sales and cash received is because of changes in the amount of debtors and the difference in cost of sales and cash is because of changes in the amount of creditors. It is worthy to note that operational cash flow in the cash flow statement differs from profit in the profit and loss account. Because business accounts are prepared on an accruals basis and not on a cash basis, a sale or purchase is accounted for in the year in which it was made even if cash is exchanged in subsequent years. This practice is exercised in most businesses who, if they do not sell on credit may purchase on credit and if cash accounting is used, the accounts would not represent a â€Å"true and fair picture† of the business activity in a given period. The accounting convention when used is an application of the accrual concept. Therefore there is recognition that while the profit and loss account is affected by the accrual concept, the cash flow statement is not as was previously stated. It should be noted also, that profit, which is shown in the profit and loss account (Net profit before taxes†¦Appendix A) is really a reflection of future cash for the company because the entries recorded are from transactions done based on the accruals concept. This can be illustrated by means of a cash flow statement done using the indirect method. Using the indirect method of preparing a cash flow statement, â€Å"net profit or loss is adjusted for the effects of transactions of a non-cash nature e.g. depreciation, any deferrals or accruals of past or future operating cash receipts or payments and of income or expense associated with investing or financing cash flows† (ACCA, paper 1.1 Study text June 2003, 365). Appendix A confirms that the net profit of $ 3,390 million reported in the profit and loss account after adjustments became $ 410 million, the same cash amount reported in the balance sheet in Appendix C, extract under current assets. Users of the profit and loss account therefore as was established earlier may be missed by the profit figure reported. However, cash reported in the cash flow statement is authentic and represents the actual liquid position of a business organisation as at the balance sheet date. There have been frequent arguments that profit does not give an authentic view of the organisation’s performance as has been established thus far. Since the making of a profit will not necessarily result in an increased cash balance, one can conclude that a company’s performance and prospects depends not so much on profits earned in the period but more realistically on cash flow or rather the company’s liquidity. Bearing this in mind, many investors now find the profit figure reported in the profit/loss account less reliable than the cash balance reported in the cash flow statement because it is felt that the profit figure can be manipulated to reflect the producer’s bias. This notion is supported by Joseph Bernardino former chief executive of Anderson quoted in The Economist. Bernardino argued that â€Å"our financial reporting system is broken† with â€Å"many investors now believing that companies can manipulate their accounts more or less at will, with the aim of producing profits that increase steadily over time. Provisions are bumped up in goods years and later released; or the value of an acquisition is slashed; there are plenty tricks. The solution in the meantime may be to look at the cash, which is harder to disguise or invent.† The cash flow statement is therefore, unambiguous and provides information which is additional to that already provided in the other final accounts. Additionally the cash flow statement provides information based on activity instead of by balance sheet classifications and shows changes in actual cash, thus, providing additional information over the balance sheet and profit and loss accounts. The dilemma as a result becomes fairly simple: there is cash or there is no cash. For this reason, the cash flow statement has several advantages which give shareholders and investors an idea as to how the funds of a company are being managed. These advantages include: 1.Cash flows allow for better comparisons and an understanding of various companies financial performance as it reports on how the cash was earned and spent as well as the reason for the difference between reported profit and related cash flows. 2.It allows for easier preparation of cash flow forecasts which is more useful than profit forecasts. 3.Cash flow reporting satisfies the needs of its users. It provides the information that enables management to make well informed decisions. It also assists shareholders with stewardship accounting while better serving the information needs of employees and creditors on the company’s liquidity status. 4.Cash flow is easily understood than profit which is based on accounting conventions and concepts such as: accruals convention or the matching concept and therefore, is easier for the layman to understand. 5.Creditors are more interested in a business’s ability to repay their debts than its profitability. Profits may indicate that cash may be available at later date, while cash flow suggests a direct view of the business’s cash situation i.e. how much money is readily available. 6.Cash flow accounting directs management’s focus on the optimum use of company assets in order to generate positive cash flows bearing in mind that cash is essential for the survival of an enterprise. In any organisation, a strong financial position is one which shows that a business has relatively little debt and large amounts of liquid assets in comparison to its current liabilities. Additionally, a strong cash balance generating with ease and efficiency from its operating activities further indicate financial strength. Large companies are therefore, mandated by law to prepare financial statements and it is in these that their performance is assessed. The users of financial statements are interested in solvency, the ability to pay debts and profitability, which creates equity. Management is also interested in these statements as it will assist them in improving the areas where performance is weak. Despite the argument presented thus far, it must be noted that â€Å"no man is an island.† This suggests that in isolation, a true understanding of a business’ performance cannot be attained by an examination of only the cash flow statement. When used in conjunction with the profit and loss account and the balance sheet, the cash flow statement gives shareholders and the other users of the financial statements the required information on viability, solvency, liquidity and the financial flexibility of a company at a specific time, essentially at the balance sheet date. Furthermore, the conjunctive use of the cash flow statements give an indication of the relationship between profitability and a company’s ability to generate cash, consequently, defining the quality of the profits reflected in the profit and loss account. Should one therefore, require an overall well calculated view of an organisation, no statement, be it profit and loss account, balance sheet or cash flow statement should be looked at in isolation. For example, in St.Lucia a new shopping plaza is on the verge of opening. Needless to say that Blue Sky Limited is now investing heavily in the refurbishment of the building in which it is to be housed. A close examination of Blue Sky Limited’s accounts would reveal large outflows with little inflows. It therefore becomes necessary to examine Blue Sky Limited’s cash flow accounts in conjunction with the profit and loss account and the balance sheet so that a more wholesome picture can be obtained. Simply put, â€Å"the cash flow statement is simply a part of the puzzle. Analysing it with the other statements can give you a more overall look at a company’s financial health† (Investopedia.com 2005). This notion is supported by Aharony et al 2003 in their study who posits that in order to understand which statement gives a better view of organisational performance, it becomes imperative to look at the â€Å"life cycle status† (LCS) of the of the business in question. Aharony et al therefore argue: Previous researchers identify four LCS’s: Start-up, maturity and decline or stagnation. At the start-up stage there are normally only a few assets in place. Growth opportunities constitute the major asset of the firm at that stage. Cash flow operation and the earnings are low, and there is a relatively great need for cash to finance the realization of these growth opportunities. At the growth stage there are more assets in place and some income is generated (Black, 1998). Sales and revenue growth rates are higher than average in the growth stage and so are investments in production facilities (Anthony and Ramesh, 1992). At the maturity stage firms experience low or no cash and needs are mostly satisfied by internal sources and at the decline or stagnant stage growth opportunities, if any, are likely to be limited, competition intensifies, and the firm’s financing costs are more expensive.(Aharony et al 2003) The implication of Aharony et al’s argument is that the cash flow statements may not necessarily be the best statement to look at a particular point in a business’ LSC because at certain points, liquidity and solvency may be low. At such points, therefore a business’ performance can be better understood by introspection of the profit and loss statement which relies heavily on accrual accounting or a combination with the balance sheet and cash flow statement. Consequently the stage of a business’ life cycle plays an important role in the understanding of a business’ performance. Despite its limitations e.g. its inability to express opinions whether or not expenditure was necessary of will be profitable, or fail to report on the cause of an increase in the firm’s receivables due to poor stock control or changes in policy, the cash flow statement remains the most detailed and accurate statement when reporting on a company’s liquidity/solvency. Therefore, in comparison to the profit and loss account, the cash flow statement definitely gives a better view of organisational performance, if for example, each statement; the cash flow statement and the profit and loss statement, is to be examined in isolation.

The Biological Determinism Or Social Constructionism Sociology Essay

The Biological Determinism Or Social Constructionism Sociology Essay Gender differs in culture and personal circumstances, they shape the way men and women behave according to their societys norms and values. Learning plays a major part in influencing gender roles, in what defines masculine and feminine, parents, teachers, friends, media, music, books and religion teach and reinforce gender roles throughout a lifetime. Gender roles are also shaped by the power of reward and punishment, as its used by some people to reinforce what they consider to be appropriate gender behaviour. In terms of influencing gender roles the influence of parents is significant as the family is the primary agency of socialisation. Gender roles are realities in almost everyones life. (Warnke 2008) This essay will discuss whether gender roles are determined by biological determinism; our genetics, or whether they are constructed by society; expectations in our environment. In addition theories explaining gender behaviours. Freud and Parsons had theories based on Biological determinism which depends on the presence or absence of certain chromosomes, DNA, proteins and hereditary genes. Men and women have obvious biological differences- a man can produce sperm, and women can produce ovum, lactation and go through pregnancy and menstruation. Without those two different sexes reproduction would not be possible, and our biological sexes are needed for our society to progress. A good example of this is the Bruce Reimer case. Bruce, an eight month old boy, underwent a circumcision that went terribly wrong, his penis was completely destroyed and with no hope of reconstructing the organ, his parents consulted Dr Money. Doctors and family decided Bruce would best function as a girl rather than a boy. He was surgically transformed into a girl, whom they named Brenda. From an early age Brenda felt she was a boy trapped in a girls body, she ripped off frilly dresses, rejected dolls in favor of guns, preferred to play with boys, and even insisted on urinating standing up. At fourteen she was so miserable that she decided either to live her life as a male or to end it, her father finally told her the truth. She underwent a new set of operations, assumed a male identity and later married and went on to become a father himself. Although Dr Money tried to apply the logic behind social determinism, Bruce revealed that despite dresses, social pressure, surgeries and fem ale hormones he never looked, acted or felt like a female. (Colapinto 2000) This shows social factors do not always override biological factors in determining gender. Social constructionism understands how gender roles are created by us in everyday lives. One sociologist, Margaret Mead, was one of the first to ground the distinction between the biological and social characteristics of men and woman based on her study in three civilizations. Each society displayed different gender role qualities. In one society both women and men were cooperative, in the second they were both ruthless and aggressive, and in the third the women were dominant and the men more obedient. (Mead 1935) This shows masculine and feminine roles are learnt and shaped in cultural socializations and not inborn, biological specific roles (Bown, 2012). Gendered behaviours are shaped especially in responses and reactions like in families, children and adult relations, workplace, groups, schools, media, texts, history, popular culture and social structures. During pregnancy and after birth people are divided into two sex categories, boy and girl, to which they received gender characteristics like colours, toys received as children by evasion, like football and trucks for boys, dolls and dresses for girls. In the course of her and his life the human being is then made into a girl or woman, boy or man. Many factors influence our behaviours such as education, social norms and values, stereotypes, identifications, images and traditions. Concept of woman and men are subject to change over time. What is to be feminine and masculine is historical defined. (Lavenda and Schultz 2011) These are all social contributors towards the way gender is shaped. In the nineties relationships between men and women were followed by tradition and religious views, the natural differences between the sexes were emphasized throughout the influential years of childhood. In marriage young men would commit to protect and provide for the woman with whom they had agreed to spend the rest of their lives. Marriage was considered a lifelong partnership with Nuptial vows to be kept despite all obstacles. Although men and women had unity of purpose in progression with their lives, the roles of each were very different, women were expected to remain at home caring for the children, cooking and housework, despite any educational background or career she may have previously had. The husbands role was to provide financially for the family as sole breadwinners and to teach their boys to be courageous and brave, to be out in front, to provide, to be tough and to sacrifice, to perform heavy, physical work at an early age. Mothers educated their daughters to be gen tle, modest, loyal, respectful and supportive, girls were assigned duties around the house assisting with cooking, sewing and cleaning. This behaviour reinforces the idea that gender roles are socially constructed. Women were influenced to break away from the traditional gender roles with the emergence of icons such as Marilyn Monroe, Lucille Bell and Betty Friedan. They were very popular and influenced woman in various ways, their motivational work encouraged woman to break out of gender roles, be more independent, be inspired to take on a new role, empower woman to take control of their bodies and to fight for equal opportunities that lead us to the present- with equality between everyone, no matter their gender. (Penny Colman 1995) this is another example of how social construction defines gender. Children, before they grow into adults, have been completely socially engineered and manipulated, generation by generation. Toys are the greatest influence in defining gender in children, as so often children are divided by stereotypes of toys. Children have a strong sense of gender identity and gender role expectations. Most two year olds know whether they are male or female and, by the age of four or five, not only do they develop gender constancy but often show rigid standards of what they believe is appropriate male and female dressing and behaviour. Young children appear to acquire gender roles stereotypes at about the same time they develop gender identity. Social construction has been pressed upon children from the moment they are born, so from an early age the signs of gender roles are already reinforced. Many sociologists insist we now live in postmodern society; shaped by our personal experience, egocentric and mass media, rather than expectations of following a script. Roles in the family had some changes, couples now make decisions together, expressing opinions openly and encouraging mutually the male role in the home is progressing, men are now more supportive in the housework tasks and more child-centred. Male and female roles and identities, which were previously very distinct, are now much more blurred. Women are increasingly choosing to take on roles previously fulfilled by men. Most women and mothers are now employed and occupy 48% of the work force with both men and woman more likely to choose the careers they want. There may be more women in the workforce than there were before but there still exists some division and segregation between the sorts of occupation in which women tend to work and the sorts of jobs men have. Woman are often located in secondary labour market wi th unsecure jobs, low status, inferior work conditions, low salaries and lower chances of promotion, while men retained the primary labour market with high paid salaries, higher status, more secure job placements, good working conditions and easier access to promotion. This explains gender roles are socially constructed whether at home on at work. . Biological determinism (in detail) dont describe, discuss analyse this argument what is it? Biological determinism (in detail) dont describe, discuss analyse this argument what is it? Paragraph 3. Social construction, feral children, children of deprived and a-sexual (media influences) Then next few are optional choose two or three to talk about Family Masculinity/Femininity The body Work roles Media.. Conclusion- shouldnt be too long just refer and summerise back to questiTo conclude, society was previously shaped by society norms and values. Children tended to follow parents footsteps. In postmodern societies, male and female roles and identities, which were previously very distinct, are now becoming blurred. People do not follow a fixed pathway, women dont assume they will become mothers and housewives, men and woman are much more likely to choose what to do in their lives and which identities to adopt. The activities traditionally assigned to members of each sex may no longer be needed and the traditional division of labour by biological sex no longer is appropriate. The traditional gender role for males prepares men for a world that no longer exists. Men no longer are the sole breadwinners in most families, and their traditional place of dominance in society no longer is assured. Change is occurring in the definition of gender roles and identity for both men and woman, with female increasing the participation in a world of paid work, increasing economical independence and viewed as significant consumers. Young females are becoming more self determined preferring to pursue careers and decline marriage and children, with this, woman are more likely to see consumption and leisure as a key factor in their identity, this suggests female identity is being redefined. Traditional ideas and roles of female identity are being abandoned and redefined, becoming a mother and housewife is less significant. And men defining their identity, by being in touch with his feminine side, taking on share roles with partner in housework duties and childcare. We now live in a society where anatomy is not a destiny, the roles and functions once so preserved are now fading in the past, and replaced by society in which true masculinity and femininity are no longer taught or understood. It is impossible to argue that gender is socially constructed or biologically driven because there is evidence that argue for both ways. Society and culture can no doubt shape the beliefs and standards for a certain society, however we cannot ignore our fundamental biological nature.

Different Philosophies on Risk Assessment: Case Study of the United States and European Union :: Politics

Different Philosophies on Risk Assessment: Case Study of the United States and European Union Introduction â€Å"Science-based regulation should never be misunderstood to mean science converted, at its face value, into regulation.†[1] Hence, regulation based entirely on ‘sound’ science, as the United States urges its trading partners to adopt, is only theoretically possible. The values of a society will ultimately affect the outcome of science-based risk assessment. The origin of facts is contingent on what the society deems is most important for research, how it is researched, and which of the research matters in the final assessment. The interpretation of facts will be determined by regulatory institutions, official expertise, economic models, and assumptions on what constitutes a desirable society.[2] The risk assessment methodologies and risk management approaches of the United States and the European Union towards genetically modified foods demonstrate this truth, and this situation will be explored as a case study of science – based regula tion. In science lies the facts, but the origin and interpretation of the facts cannot be separated from political, social, and cultural influences. Background The European Union and the United States have different risk assessment and management policies which arise from political and socioeconomic differences within these two societies. From a political and cultural standpoint, the clout of strong consumer unions and farmers in the European Union and similar pull from the industrial sector in the United States cannot be separated from the decision-making process. Socially, we find that risk perception between the two societies is quite different. American society exhibits consumer acceptance and the European Union exhibits consumer recalcitrance towards GM-foods. More importantly, the differing philosophies in risk assessment are structured so that either entity can have their risk assessments arrive at their desired outcomes. The United States insists that risk assessment of genetically modified foods be based on ‘sound’ science and rules. Though the European Union does not directly counter this position, it did recently make clear in The EU Communiquà © on the Precautionary Principle[3] that it would reserve its sovereign right to exercise the precautionary principle when the known facts surrounding the risks of a particular GM-food were not enough to establish the food as safe for human consumption. Different Philosophies on Risk Assessment: Case Study of the United States and European Union :: Politics Different Philosophies on Risk Assessment: Case Study of the United States and European Union Introduction â€Å"Science-based regulation should never be misunderstood to mean science converted, at its face value, into regulation.†[1] Hence, regulation based entirely on ‘sound’ science, as the United States urges its trading partners to adopt, is only theoretically possible. The values of a society will ultimately affect the outcome of science-based risk assessment. The origin of facts is contingent on what the society deems is most important for research, how it is researched, and which of the research matters in the final assessment. The interpretation of facts will be determined by regulatory institutions, official expertise, economic models, and assumptions on what constitutes a desirable society.[2] The risk assessment methodologies and risk management approaches of the United States and the European Union towards genetically modified foods demonstrate this truth, and this situation will be explored as a case study of science – based regula tion. In science lies the facts, but the origin and interpretation of the facts cannot be separated from political, social, and cultural influences. Background The European Union and the United States have different risk assessment and management policies which arise from political and socioeconomic differences within these two societies. From a political and cultural standpoint, the clout of strong consumer unions and farmers in the European Union and similar pull from the industrial sector in the United States cannot be separated from the decision-making process. Socially, we find that risk perception between the two societies is quite different. American society exhibits consumer acceptance and the European Union exhibits consumer recalcitrance towards GM-foods. More importantly, the differing philosophies in risk assessment are structured so that either entity can have their risk assessments arrive at their desired outcomes. The United States insists that risk assessment of genetically modified foods be based on ‘sound’ science and rules. Though the European Union does not directly counter this position, it did recently make clear in The EU Communiquà © on the Precautionary Principle[3] that it would reserve its sovereign right to exercise the precautionary principle when the known facts surrounding the risks of a particular GM-food were not enough to establish the food as safe for human consumption.

Human Genetics :: essays research papers fc

Human Genome Project A genome is defined as the complete collection of an organisms genetic material. The human genome is composed of about 50,000 to 100,000 genes located on 23 pairs of chromosomes in a human cell. It is said that a single human chromosome may contain more than 250 million DNA base pairs, and it is estimated that the entire human genome consists of about 3 billion base pairs. The DNA is gathered through blood samples taken from many different people. Though each person has a unique set of DNA the difference in a given pair of samples is less than 1 percent making the differences pale in comparison to the similarities. The Human Genome Project is an international collaboration of scientists who’s goal is to gain a basic understanding of the genetic blueprint of a human being. This information is found in each cell of the body, encoded in the DNA. The intent of this project is to identify all genes in the nucleus of a human cell, to map where those genes are on the chromosomes of the nucleus, and to determine the seqeuncing or the order of these chemical subunits of the DNA. The idea to undertake such a project was came about through a series of scientific conferences held between 1985 and 1987. The actual project ,however, did not begin until 1990 with the expansion of funding from the NIH and DOE. There are many nations involved with this project as part of an informal pact including France, Germany, Japan, the United Kingdom, and many other european nations. Also in an effort to speed up the mapping and sequencing process several private companies have been enlisted to help such as Celera Genomics. Today there is a lot of research being done under the umbrella of the Human Genome Project. For instince gene therapy is being developed as a very real cure for such hereditary diseases as Cystic Fibrosis and Parkinsons where somewhere in the genetic make up of the body there is a glich tht alows the nervous tissue of the brain to deteriorat e at a slow but steady rate. With gene therapy we will be able to replace the tissue in the brain with correctly funtioning tissue from an animal such as a pig. As of early 1999 the Human Genome Project was ahead of schedule. There is said to be nearly 10 percent of the genome sequenced already or about 7,600 genes have been mapped to particular chromosomes.

Gender Role In Social Construction Essay -- Gender Socialization Sex E

Gender Role In Social Construction Works Cited Missing   Ã‚  Ã‚  Ã‚  Ã‚  Everyone’s life is affected by social construction. This is the belief that knowledge is determined by society, and in turn (knowledge) is formed by the individuals that belong to the society. When an individual thinks of a doctor, lawyer, priest, engineer, or manager they usually picture males. While nurses, teachers, and housewives (emphasis on wives) are purely female professions in our society. This is social constructionist thought on what role a male/female should play in today’s society. These may not be the professions of choice for the individuals, but what the individual believes is socially acceptable. â€Å"Most of the behavior associated with gender is learned rather than innate†(Chandler 5). People begin to learn what is right and wrong (according to the community) from the earliest of ages. The media contributes to social construction, as women and men are almost always portrayed in a stereotypical manner. By examining the way t he media is presented, one can see the impact of social constructionist thought.   Ã‚  Ã‚  Ã‚  Ã‚  The impact that media can apply varies from society to society, this is because each society obliges to a different social construction. In European countries nudity can be shown on television, and is perfectly acceptable. For example, in the Netherlands:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Governments support massive, consistent, long-term public education campaigns utilizing television, films, radio, billboards, discos, pharmacies, and health care providers. Media is a partner, not a problem, in these campaigns. Sexually explicit campaigns arouse little concern.(â€Å"Love† 2) In this community the openness towards sexuality is not only acceptable, but is the standard set by the society. In the United States however, displaying sexuality is not acceptable. Kirby Anderson states that â€Å"what children see on television encourages them to take part in sexual activity too soon, to show disrespect for their parents, and to lie and engage in aggressive behavior†(4). The American society believes that displaying sexually explicit content pressures the viewers into preforming â€Å"sinful† acts. These acts include anything from using foul language to premarital sex. By comparing the views of these two cultures it is easy to see how â€Å"knowledge in one society may not be considered knowledge in another society... ... 100 ads based on sex appeal contained at least one near-naked woman (England, McBride and Peirce 5). This overwhelming majority just adds to the fact that society believes that women should be compliant and submissive. To advertisers these findings may seem trivial. What does it matter if most ads associate men with supremacy and females as secondary? Or perhaps advertisers believe that complying with society is the only way to sell products.   Ã‚  Ã‚  Ã‚  Ã‚  The clothes we wear, jobs we hold, and roles in society are all partially determined by social construction. Although each society contains a different social construction, the theories themself are presented in the same manner. The mass media is one of the largest social constructs that make up a community, and therefore effects the audience greatly. Movies, television, and advertisements render women as weak and inferior; while men are depicted as the superior leaders of society. According to Doctor William Rouster â€Å"...knowledge is based on what a certain society says it is...†(1). The media is built from what society believes to be true. With this in mind maybe it is the society, not the media, that requires a change.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  

Moot Court Outline

General Outline of a Moot Court Argument INTRO May it please the court, my name is _____ and I represent the Petitioner/Respondent __(name)___. [REBUTTAL REQUEST & PROCEDURAL BLURB (for Petitioner ONLY)] With the court’s permission, I would like to reserve 2 minutes for rebuttal. Thank you. This case is on appeal from the District/Circuit Court (name of court). The District/Circuit Court denied Petitioner’s request for _____, holding _____. ROADMAP Your honors, _______ is a violation of international law and we ask that you ________ for (the following) two/three reasons: 1.First, [substantive legal argument – strongest point] 2. Second [substantive legal argument] 3. And Third, as a matter of public policy OR as public policy dictates, [policy argument] ARGUMENT 1. With respect to the first point your honors . . . OR First, . . . CONCLUSION Since [first point], [second point], and [third point], Petitioner/Respondent respectfully requests that this Court finds __ __ a violation of international law. Thank you. [REBUTTAL (for Petitioner ONLY)] Respondent made one/two point(s) that I would like to address. (First) Respondent stated that . . However, . . . OR Respondent contends that _____. However, . . . MISCELLANEOUS SUGGESTIONS – For Rebuttal: o Attack misstatements and glossed-over weaknesses. o Address concerns of the court. o One to two points – most important point first. – If you obviously and/or materially misspeak, say â€Å"rather, ____† OR â€Å"pardon me your honors, what I mean to say is ____† and correct yourself. – If you are really hard-pressed for a transition, say, â€Å"which brings me to my second/third point† and find a way to fit what you were talking about into that point. If you are going to quote a case, drop the case language verbatim into your outline and KNOW the pin cite. – If you aren’t sure what the judge is asking, seek clarification. o This can also be used as a stall tactic if you are unsure how to answer the question. o Say something like, â€Å"Your honor, I want to make certain I understand your question, would you mind regarding-phrasing? † – DON’T: o Say, â€Å"I don’t know† in response to a question. ? If you don’t know the answer, say something more like, â€Å"Your honor, I am unable to fully answer your question at this time.However, I would be more than happy to submit a supplemental brief on the issue/matter/case. † o Smile or laugh or otherwise lose composure during argument (unless the judges are smiling and laughing and you feel it would be inappropriate to NOT smile and laugh). o Take a pen up to the podium. – DO: o Outline your argument! ? Try to reduce your argument to 2-3 pages. ? Use headings and sub-heading. Bold, capitalize, etc. for ease of reference. ? Use a manila folder to organize your arguments. †¢ Take nothing but that manila folder up to the podium. Listen carefully to opposing counsel’s arguments and the judges’ questions. ? Take verbatim notes of both. Quote and/or directly address if appropriate. o Know, in advance of the argument, which points you are willing to concede (if any). o Preface your answers with the following: ? Yes your honor, however . . . ? No your honor. †¢ Be cautious using this one – it can appear less-than deferential. ? I (respectfully) disagree with your honor’s characterization/construction of . . . o Have your introduction, [procedural blurb], roadmap, and conclusion memorized.

Differences between massachusetts and virginia 1607 and 1750 Essay

Both the economics and politics greatly differed between Massachusetts and Virginia between 1607 and 1750. The differences in the percentage of classes were unbelievably large and their entire economic structure differed from each other. Virginia had more risky culture and economics where-as Massachusetts had a more stable economy. The economy of Virginia was based solely on the production of tobacco. The plantation owners had to buy slaves to work the fields so the slave trade industry in Virginia was also a huge factor. The plantation owners were in the very rich, elite category and pretty much ran the politics. Virginia had a ridiculously small middle class and they barely had any say in the elections. The poor classes of Virginia were about 80%of the population and were not even allowed to vote. This made the state/colony of Virginia a very un-democratic and un-representative. There was very little cash flow in Virginia because the elite plantation owners flaunted their wealth as a display of power. This was necessary because this display of power kept the slaves and poor people of the community from revolting. The economy of Virginia was very fragile and brittle. All it would have taken was one drought or one bad tobacco year and Virginia would have been severely hurt economically. The Northern colonies, especially Massachusetts, were much more stable. There was a larger middle class of 65% and there was much more representation in politics in Massachusetts. The economy was much more stable because it didn’t only rely on one form of income. Because there were many harbors in Massachusetts there were more towns which led to the need of new professions. There included Blacksmiths, Clothing makers, Merchants, and sailors. There was also much more cash flow in Massachusetts because there was no need to flaunt wealth and a much larger middle class. Another reason for the greater amounts of cash flow was that the people that lived in Massachusetts were mostly Puritan. The Puritans believed that you should not show your wealth because it was temptation and temptation was a sin. The Puritans were extremely hard-working and that is one of the main reasons the Northern colonies were so successful. The Northern colonies and the Southern colonies differed in many ways but both succeeded in the long run. They may have had different views and completely different economies but both sides will play their own part in the revolution and eventually become one country. The Untied States of America.