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DZY1107-02 (Original format)
THE IMPACT OF SOCIAL GLOBALISATION ON SENDING AND RECEIVING COUNTRIES
Student’s Name
Couse
Professor
Date
Question One
Introduction
The increase in migration is the most visible and significant aspect of social globalisation; people are constantly moving within countries and across borders looking for better lifestyles and employment opportunities. Migration of people impacts economies, societies and cultures, generating significant benefits for both migrants’ countries of origin and the host country.
Stimulus A shows the movement of people from less developed countries to seek employment opportunities. The number of Africans, Hispanics, Indians, and Pakistan’s moving to developed countries to pursue job opportunities continue to rise. Developed countries provide various employment opportunities for skilled and unskilled migrants (Migali et al., 2018). Additionally, stimulus A shows the effect of migrants on receiving countries. Migrants enhance the diversity of the hosting developing countries (Sagynbekova, 2016. For instance, both skilled and unskilled migrants improve diversity in their workplaces, making these countries richer and more productive in the long run.
Secondly, stimulus B shows the impact of migrants on sending countries. Migrants send a lot of money back to their home countries. Remittances are the most significant and tangible benefit of international migration. According to Migration Data Portal, the total global migrant’s remittance was USD 508 billion in 2020. This means better living standards for the household back home and economic developments to these sending countries.
Stimulus A and B show the reasons and the impact of migration to sending and receiving countries. Migration occurs due to the push factors of less economic opportunities in sending countries and the pull factors of opportunities in developed countries. The desire for better socio-economic activities such as employment opportunities and education by migrants and the availability of these opportunities in developing countries is the primary cause of migration (Migali Et al., 2018). Additionally, stimulus A and B highlights the impact of migration to the sending and receiving countries. Receiving countries benefit from the diversity migrants bring, especially at workplaces. Similarly, receiving countries benefits from migrants’ remittances. Migrants send a lot of money back home that improves the kins’ economic status back home and the receiving countries in general.
Conclusion
Although most people and countries across the globe view migration as problematic, it provides opportunities and benefits to the hosting country, country of origin, and the migrants themselves. The world is in the century of human mobility. Therefore, nations and individuals should rise above self-interest and act together.
Bibliography
Migali, S., Natale, F., Tintori, G., Kalantaryan, S., Grubanov-Boskovic, S., Scipioni, M., Farinosi, F., Cattaneo, C., Benandi, B., Follador, M. and Bidoglio, G., 2018. International migration drivers. Joint Research Centre: Ispra, Italy.
Remittances. (n.d.). 2021, June 3rd. Migration data portal. Retrieved November 7th, 2021, from https://www.migrationdataportal.org/themes/remittancesSagynbekova, L., 2016. The Impact of International Migration. Springer International Publishing, 10, pp.978-3.
FINANCE AND ACCOUNITING ESSAY
FINANCE AND ACCOUNITING ESSAY
EXCELLENCY CLOTHING COMPANY
REASONS FOR PROFIT DECLINE AND SUGGESTIONS OF IMPROVING PROFIT
By (Name of Student)
Instructor
Course
Institutional Affiliation
Date of Submission
Reasons for Profit Decline
The financial statement of Excellency Clothing Company depicts a reflection that there has been a decline of profit from £14746 in 2913 to £13176 in 2014. It is worth to note that there has been a general low rate of return by several London companies and businesses for the recent past years and not only hr clothing companies. However this analytical and explanative papers shall be solely focused in determining the probable reasons behind the declines in profit for the
Clothing industry in London, that is Excellency Clothing Company. The paper’s thesis shall in addition provide a discussion on the suggestions of what are to be done in order to improve the profit performance of the industry in the future. The following analyses are the probable reasons for the reduction of the industry’s profit according to the London’s time and tide (2011) newspaper explanation.
According to the Excellence Clothing Company journal of 2014, there is a general decrease in base of revenue for the company. The revenue of the industry declined from £255063 to £215623 from the years 2013 to 2014. Since profit is a direct related function of revenue, that is profit = revenue – cost (cost of sales). Such a reduction in revenue consequently leads to loss realization or profit decline. There can be quite a number of factors that may lead to such a reduction in revenues. The policies of London have been proved to be ignorant on the clothing industries. The policies have not allowed for any incentive offer to be given to the industry. There are also varieties of stringent restrictive actions imposed by the London policies that have subjected the industry to many operation ceilings (CLUTTERBUCK, & CRAINER, 2012). This means that the company cannot operate beyond a certain set level of production even if it has the capacity of doing so. Most of the policies especially those by the London government have imposed huge amount of taxation on the industry in the year 2014. The industry is being taxed hugely in cases where the clothing raw materials to be used are imported. The custom duty to be paid in such cases of raw materials importation have been cutting deep in to the amount of cost expenses that are to be paid by the industry.
The company is as well expected to be paying excise duties monthly and submitting their returns for excise duty charges. The above mentioned costs of taxation are of a negative impact to the industries revenues. Since such costs have to be paid by the industry through making withdrawals and deductions from the revenue amount. As provided in the equation for profit determination, when the revenue reduces and cost (arising from the taxation policies) increases, the profit amount has to definitely decline. This provides an explanation as to why the industry has realized a decline in its profit amount in the year 2014. On the other hand, the profit for the industry in the year 2013 is much higher than that of 2014. This can be argued to be for such reasons as, for instance, in 2013 the rate of taxation by the government stood at a lower percentage of 35% compared to the 40% of 2014 on the total gross profit. This therefore led to increased profit base in 2013. Since there were less deductions to be made on revenue of 2013 while the deductions of 2014’s revenue were much higher. Consequently making the profits of 2013 (£14746) to be higher than that of 2014 (£13176) as recorded in the financial statement of the company. It can therefore be concluded that the increases in deduction amounts imposed by taxation policies is a reason that lowers the revenue of the industry (CLUTTERBUCK, & CRAINER, 2012). Thereby in extension leading to profit declines.
The trade receivables of 2013 are lower than that of 2014. The trade receivable of 2013 and 2014 are £30124 and £34592 respectively. Trade receivables are financial elements which represent the amounts of debt that the company is expecting to receive. How does the higher trade receivables of 2014 than that of 2013 lead to decline of profits in 2014? The higher amounts of trade receivables expected by industry in 2014 than that of 2013, means that there were debts much that had not been received by the company in 2014 than in 2013. This is why the trade receivables (or the expected amount) by the company is higher in 2014. Since a lot of the amounts being to be paid by the customers who made purchases on debt are still pending and have not been settled.
In Layman’s language, what this means is that, in 2013 the company received much more amount in its debts sales than in received in 2014. Therefore in 2014, due to the low amounts that got paid in debt expected amounts, there was a decline in profit amounts. One of the reasons that lead to such reduced amounts of trade receivables is majorly caused by default in payments by the customers. Most of the default payments are always subject to write offs. Therefore it can be argued also that in 2014, there were more debts written off than in 2013 leading to the trade receivable of 2014 being much higher than that of 2013. This is because there were amounts that were expected to be received in 2014 and yet in reality those receipts were not really realized. Therefore, this explanation provides one of the reasons why the profit declined from 2013 to 2014.
The retained profits of 2013 (£70715) is lower than that of 2014 (£83236). How then does lead to decline in profit from 2013 to 2014? The lower retained profits of 2013 may imply that much of the profits received were used for other purposes of additional clothing production investments. Such additional investments are potential factors that can increase the amount of revenue received by the industry. On the other hand, the higher amounts of retained profits by the industry in 2014 can be an indication that much of the profits received put in idle accounts and were rather not used for any other form of investment. The phenomenon of putting the company’s profits in idle accounts as retained profit means that there will be as well low amount of revenues to be received or expected in the year 2014. From the explanation, it is therefore clear that in 2014 there were less revenue or profit to be received by retaining much of the profits rather than investing for other additional profits. While in 2013 much revenue or profit were expected or received due to investing much of the profit and retaining less of them.
The trade payables in 2014 are higher than the trade payable in 2013. Trade payables are always a representation of the Excellence Clothing Company’s credits (amounts to be paid by the company to its creditors or the debts owed by the company). This means that in 2014 the company had much debt which it paid standing at amount of £40243, than in 2013 when its debts were £31986. The paying of much more debts in 2014 than those paid in 2013 also makes the profit of 2014 to be of a decline when compared to the profits of 2013.
Suggestion of Improving Profit
The profits of the Excellence Clothing Company can be improved by using a variety of financial tools and elements as suggested in following discussion. Taxation rate should be cut by the government. Reduced taxation amount leads to the company to realize more revenue earned in its financial or income accounts. Since profits are in a direct relationship with revenue if all other financial factors are considered constant. The reduction in taxation leading to increased revenue earnings makes the company to realize much improved profit (PRESTWICH, 2009).
The company should also cut its cost of operation and reduction. Cost reduction consequently lead to reduced company’s debt (that is trade payable). When the company has low debts which it is to pay to its creditors, the profit amounts will consequently increase. Also, the company should expand its production and sales operation by investing much of its profits in other separate additional investments. The additional investments may be actuated by opening up more clothing departments for the purposes of either production or sales. Through additional investments the company is likely to improve its profit since more revenues will be being fetched.
In addition, the financial tool of traded receivable can be used by the company to increase its profit. This can be done in such a manner that the company ensures it reduces its trade receivable. This can be achieved by the company through reducing its debt sales. Reducing debt sales creates a provision that the company will be subjected to little or no debts from its customers. Some of the ways of ensuing that the trade receivables (debts by the company’s customers) are reduced is by initiating measures as cash in hand payment, payment on delivery or payment on receipt systems. The company will therefore be able to realize more improved profits since every sale made has an assured of payment or receipt (FERGUSON, 2013).
Bibliograhies
(2011). Time & tide. London, Time and tide.
(2014). Textile manufacturer: materials, production, management. Manchester, England, Joseph Appleby Ltd.
CLUTTERBUCK, D., & CRAINER, S. (2012). The decline and rise of British industry. London, Mercury Books.
FERGUSON, N. (2013). The great degeneration: how institutions decay and economies die.
GREGG, S. (2012). Becoming Europe economic decline, culture, and how America can avoid a European future. New York, Encounter Books. http://public.eblib.com/choice/publicfullrecord.aspx?p=909526.
PRESTWICH, M. (2009). Proceedings of the Durham Conference, 1997. Woodbridge [u.a.], Boydell Press.
Dynamic time warping (DTW)-based word recognition
Discussion 3
Author
Institution
Date
Introduction
Words are essentially the most efficient, common and basic communication method for the interaction of individuals. The introduction of computers has increased the avenues for speech. Rather than, use common interfaces such as the mouse or keyboards, many people choose to incorporate speech or word recognition systems. These systems assist computers in the identification of the words that individuals speak into microphones, which are then converted into written text. This gives the computer the potential of becoming a crucial mode of interaction between computers and human beings. Spoken language dominates human communication. In this case, it is only natural for individuals to look for word interfaces that can recognize speech and speak in native language. This enables even common people to benefit from information technology. There are varied word recognition approaches that can be used.
Dynamic time warping (DTW)-based word recognition
Also simply known as DTW, the Dynamic Time Warping refers to an algorithm used in measuring the similarity between sequences that vary with time or speed. This approach was historically used for word recognition. However, it has been largely displaced by the HMM-based approach, which is considered more successful. The DTW based approach has been applied to graphics, audio, video and any other data that may be turned to linear representation.
Statistical-Based Approach
The approach involves statistical modeling of variations in speech using automatic procedures of learning. It represents the existing state-of-the-art approaches for word recognition. However, this approach is disadvantageous in that the statistical models must make assumptions, which can be inaccurate thereby hindering the performance of the system(Alex W & Kai-Fu L 1990).
Template-Based Approaches
These approaches come with numerous techniques that have led to the considerable advancement of the in the last two decades. These approaches involve matching unknown words then comparing them against prerecorded words or templates so as to come up with the best match. The advantage of the method is that it uses word models that are perfectly accurate. However, it comes with the limitation in that prerecorded templates are rigid, in which case speech variations would have to be modeled using numerous templates for every word. This approach increases in an also prohibitively impractical and expensive with increasing in vocabulary (Alex W & Kai-Fu L 1990).
Knowledge-Based Approaches
This approach involves hand-coding speech variations into a system. The approach uses a number of features of speech, and then the system is trained to generate some rules from the samples. The approach is advantageous in that it expertly models speech variations. However, it is limited in its practicality since it would be difficult to obtain such expert knowledge.
These approaches are com in handy for individuals with disabilities. Individuals who are deaf or have difficulty hearing can use the approaches for the automatic generation of closed conversation captions such as classroom lectures, conferences and religious services. They would also be useful for individuals facing difficulties in using their hands. These difficulties could range from involved disabilities that prohibit the use of conventional PC input devices to mild persistent stress injuries. Word recognition approaches are also utilized in deaf telephony including relay services, captioned telephone and voicemail to text.
Conclusion
Words or speech constitutes the most basic form of communication. However, there are instances where communication is hampered especially when the individuals involved have disabilities. This would necessitate the use of word recognition programs, which would transform the spoken words into written text thereby enhancing communication.
References
Alex Waibel, Kai-Fu Lee, 1990. Readings in speech recognition. New York: Morgan Kaufmann
(Alex W & Kai-Fu L 1990)