The history of the Christian Church

Introduction The history of the Christian Church was an eventful process that was characterized by several periods marked by particular events and personalities. This paper looks at some of those events and personalities that shaped the Church as we know it today. The paper is divided into two sections. The first section (A) is concerned with the definition of some of the important concepts in the life of the Church. Section B provides a summary of some of the important events in the Church history.Advertising We will write a custom essay sample on The history of the Christian Church specifically for you for only $16.05 $11/page Learn More Definition of Terms Germanic Tribes These were Indo-European ethnolinguistic people whose origin could be traced to the northern part of Europe, and who were distinguishable by their Germanic languages. The word Germanic was coined during the classical by Roman authors to refer to certain tribal groupings considered ph ysical and less intellectual than the Romans. Carolingian Renaissance This referred to the era of cultural movements during the late eighth century. It was the foremost medieval Renaissance that happened in the course of the rule of Carolingian rulers. It was marked with a rise in the amount of literature liturgical changes and architecture. Scholasticism This referred to a technique of analytical thinking and defending dogma that governed the teachings in universities around Europe during the medieval period. It focused on acquisition of knowledge by deduction in resolving contradictions. Saint Francis Saint Francis of Assisi was a priest of the Roman Catholic Church who created the Order of Friars Minor for men. He also set up the women’s group of the Order of Saint Clare. Beguines These were people belonging to a grouping that originated in the medieval period. It was started by a group of single women and widows who dedicated themselves to a life of prayer and good deeds after they lost their men in battles and during the crusades. Petrarch Often referred to as the father of Humanism, Francesco Petrarch was a poet and an Aretine intellectual who existed in Italy during the Renaissance period. He rediscovered the correspondences of Cicero’s, which were credited for triggering the Renaissance during the fourteenth-century.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Marsilio Ficino Ficino was among the most prominent humanist academics during the early Renaissance in Italy. He was also an astrologer and was the first to translate the surviving works of Plato into Latin. Zwingli Huldrych Zwingli was one of the people who spearheaded reformation in his country, Switzerland. He was the only significant reformer whose movement did not metamorphose into a church. Anabaptists Anabaptists were a group of Christians who revolted against the system of baptis m during the sixteenth-century Radical Reformation in Europe. They advocated for re-baptism, and disputed the credibility of the baptism that was administered to infants. Avignon Papacy This term was used to refer to the period in the Roman Catholic Church when the papacy was centered in Avignon, in France. Martin Luther referred to this period as the ‘Babylonian captivity of the popes.’ Black Death This was one of the most disturbing pandemics that had ever been witnessed in human history. The plague was said to have been caused by the Yersinia bacteria and resulted in the deaths of over 100 million people. Erasmus Desiderius Erasmus was a Dutch Christian who was a scholarly authority in Europe. Though he advocated for and contributed to the protestant reformation, he took a strong stance against violence and criticized Martin Luther for his radical rhetoric.Advertising We will write a custom essay sample on The history of the Christian Church specifically for you for only $16.05 $11/page Learn More 1517 C.E This was the period that marked the beginning of protestant reforms in the history of the church when Martin Luther wrote his ’95 Theses.’ In the theses Luther attacked some practices in the Roman Catholic Church. In 1521, he was excommunicated from the Roman Catholic Church. Jesuits Also referred to as the Society of Jesus, it was a Christian grouping with an entirely male membership. The congregation was established by Ignatius Loyola upon his religious conversion after he was wounded in war. Spiritual Exercises These were a collection of Christian prayers, meditations, and mental practices designed by Ignatius Loyola. The exercises were distributed within one month, and were intended to bring the believer closer to Christ. Hernan Cortez Cortez was a Spanish explorer who headed a mission that instigated the collapse of the Aztec Empire. He was part of the initial group of Spanish colonizers who en tered the Americas. Lady of Guadalupe This was the title bestowed upon the Virgin Mary associated with a miracle in which she appeared to one of the natives of Mexico. Currently, there is a renowned image put up in the Basilica of Guadalupe. Old Believers This term was used in reference to a collection of Russians who rebelled against certain changes to the Orthodox liturgy. The reforms were forced on the Russian Orthodox Church by Nikon. 1492 C.E This was the period in church history that was characterized by a mass expulsion of Jews from Spain. Ferdinand and Isabella of Spain signed a document that saw the removal of all Jews from Spain on the reason that they were not willing to convert to Christianity.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Summary Christian Asceticism Christianity has brought to fruition every part of the various forms of ascetic practices. Though the New Testament Gospels do not discuss asceticism, the theme highlighted therein about following in the footsteps of Christ provided a good starting point for ascetic practice within Christianity. The chapters on asceticism traced asceticism to the first letter that Paul wrote to the Corinthians. In this communication, Paul uses the analogy of an athlete that needs to prepare himself regularly to win a race. The chapter also depicted how self-denial, vigils and abstaining from food were practiced in early Christianity. The authors also discuss some of the early sects of Christianity such as the Encratites, in which asceticism was practiced. In the early church, ascetics lived within communities and played their roles. Celibacy along with martyrdom characterized the lives of the first ascetics. In the late third century, monasticism, which was an ascetic pr actice, came from Egypt. It was also thought that bits of monasticism came from Mesopotamia. It was adopted into Christianity and was practiced in the form of cenobitism. It got prominence after Christianity was declared the official religion of the Roman Empire (Hastings 48). The chapter indicated that particular traits of asceticism surfaced in early Methodism, Puritanism and the Oxford Movement despite the fact that ascetic practices were discarded by those who were spearheading the Protestant Reformation. Calvinism and Pietism also showed traits of asceticism. The protestant work ethics could be seen as a form of asceticism that required a rejection of pleasures obtained from material things even when legitimately obtained. The Christian Empire Constantine’s conversion to Christianity played a big role in transforming the Roman Empire into a Christian Empire. The chapter on the adoption of Christianity in the Roman Empire highlighted some of the challenges the implementat ion faced including resistance from the traditional Roman cultures. Christians also faced a hard task of transitioning from a relatively unknown religion to the mainstream religion practiced by the emperor. The chapter also highlighted some of the institutions that had to be created to meet the increased responsibilities while retaining the essence of the message carried in the Gospel. Constantine was made the Roman Emperor in 306. His conversion took place during a battle that involved his brother-in-law who was called Maxentius. He claimed to have had a vision in which God instructed him to imprint a holy sign, which he would carry into battle. From the chapter, it was not clear when Constantine developed a liking for Christianity. What was clear was the fact that his mother, Helena might have exposed him to Christianity during his youth. However, the emperor did not obtain baptism until towards the end of his life. Making Christianity the official religion of the Roman Empire was the biggest moment in the spread of Christianity and shaped the way Christianity under the Roman Catholic Church was practiced. Constantine became the patron of the early Christian Church, and under his leadership the church became more institutionalized. Constantine also instructed the supply of Bibles to Christians living in Constantinople. That action encouraged early publication of Bibles such as the Codex Sinaiticus. Reformation This chapter discusses the Protestant Reformation and the exodus from the Roman Catholic Church (Somervill 102). This chapter outlines the role played by Martin Luther and his ‘95 Theses’ in instigating the reform. It also looks at John Calvin and other influential figures during this period of church history such as Ulrich Zwingli and John Knox. Luther began his dissent of the Roman Catholic Church by condemning the corrupt practice of selling indulgences in exchange for absolution (Bainton 296). The debate later grew to involve other iss ues such as celibacy and the authority invested in the papacy. The Protestant Reformation began at a time when many groups of people were discontented with the leadership of the Roman Catholic Church. Most political leaders who supported the Reformation were unhappy with the amount of political power wielded by the papacy. Merchants also supported the Reformation since they did like the taxes imposed by the Roman Catholic Church. A major motivation throughout the progression of the Protestant Reformation was humanism. Erasmus was the most esteemed among the scholars that spearheaded the Protestant Reformation. He advocated for a restoration to the original Christian sources. Erasmus published his Treatise on Free Will in 1522. A reply by Martin Luther titled ‘On the Bondage of Free Will’ indicated how divergent their fundamentals regarding church reformation were. Though Luther, Zwingli, Melanchthon, Bullinger, Bucer, and Calvin founded their quest for reform on the pri nciples of the early church fathers, their radical views were characterized by their interpretation of the Bible. The Protestant Reformation resulted in cultural, political and social changes. Governmental structures that had been designed taking into consideration the Roman authority had to be realigned while groups who had hitherto been used to the Roman cultures and norms transitioned to new norms that resulted from the radical reforms. The Holy Russia Chapter The Christian faction that formed the Russian Orthodox Church was allegedly formed by Apostle Andrew while visiting Scythia and other Greek colonies (Garrard and Garrard 181). Legend has it that Andrew put up a cross at Kiev and predicted the growth a vast Christian city. It was in that spot that the Saint Andrews cathedral was built. The eastern parts of eastern Russia were under the control of the customs of the Roman Empire by the conclusion of the first millennium AD. The translation of the Bible into Slavonic that was done by Saint Methodius leveled the way for adoption of Christianity by the Slavs. The Eastern Orthodox Church parted ways with the Roman Catholic Church due to doctrinal differences and issues concerning the supremacy of the papacy. The Eastern Orthodox faithful accused their Roman Catholic counterparts of diverging from the teachings of the first seven ecumenical councils. The Russian Orthodox Church would also face its own division known as the Old Believer’s schism. Some members of the clergy and lay leaders of the church misunderstood the reforms that had been suggested by Patriarch Nikon and dissented from the mainstream church authority. Mysticism in the History of the Church Mystic practices of the Church generated increased yearning for God at a time when many church adherents were fed up with certain practices within the church leadership such as nepotism, corruption and selling of indulgences. Such Christians sought direct experience with God in order to avoid the doctrines they did not like in the Church. Mysticism was also in response to the intellectual workings of scholasticism where people’s doctrines were used in almost all aspects of worship. In response, mysticism sought to encourage a direct relationship with God through prayer and meditation. Known mystics in the history of the Church included Ignatius Loyola and Teresa of Avila (McColman 49). The void that was left during the Avignon Papacy and the Great religious Schism that happened during the last parts of the fourteenth century was an additional reason that encouraged mysticism in the early Church. While the pope was operating from France, some Christians felt that there was no actual leadership within the church. Due to this lack of direction, many Christians took to mysticism to communicate with God directly. The bubonic plague also played a major role in increasing mystic practices within the Church. The resultant uncertainty of life caused by the numerous deaths made people more spiritual and increased their hunger to improve their experience with God. The gender bias within the ranks of the Church also pushed some women faithful into mysticism. Christina of Markyate was one such Christian. She wanted to be a nun, but her parents disagreed with her decision and sent a man to take her virginity. She, however, managed to convince the man her parents had sent. She went to live as a nun under the guardianship of a monk called Roger. She became a nun in St. Albins and later became an important authority on England’s national issues. Catherine of Sienna, another female mystic, nursed people all through the bubonic plague. Therefore, she championed the notion of marriage to Christ. There were several similarities that existed between mysticism and the protestant Reformation. Like the protestant reformation that sought to do away with intermediaries in worship, mysticism sought direct relationship with deity. However, it was important to note th at mysticism was not in rebellion toward Church authority. Conclusion Christianity certainly has a rich history that involves the contributions of many influential figures. The state of Christianity is still undergoing metamorphosis and more changes can be expected in the future. Works Cited Bainton, Roland. Here I Stand: A Life of Martin Luther, Massachusetts: Hendrickson Publishers, 2009. Print. Garrard, John and Carol Garrard. Russian Orthodoxy Resurgent: Faith and Power in the New Russia, New Jersey: Princeton University Press, 2008. Print. Hastings, Adrian. A World History of Christianity, United Kingdom: Wm. B. Eerdmans Publishing, 2000. Print. McColman, Carl. The Big Book of Christian Mysticism: The Essential Guide to Contemplative Spirituality, Charlottesville, VA: Hampton Roads Publishing, 2010. Print. Somervill, Barbara. Martin Luther: Father of the Reformation, Minneapolis: Capstone, 2006. Print. This essay on The history of the Christian Church was written and submitted by user Josiah Miranda to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Board of Directors

Board of Directors Introduction The success or failure of any organization or company totally depends on its leadership. There are different levels of leadership in any organization and the board of directors plays a very important role in the running and management of any organization. Different organizations have different roles of the board of directors but generally there are basic foundation roles that apply to all the organizations.Advertising We will write a custom research paper sample on Board of Directors specifically for you for only $16.05 $11/page Learn More This paper discusses the different roles of the board of directors and how competence can be developed as well as the various differences between board of directors in the private sector and non-profitable organisation. Ideal relationship between the board of directors and the executive is also discussed. Board of directors The main role of the board of directors in any company or organization is to act as the eyes of the shareholders of the organization. A report by Brefi (2000) claimed that any given board of directors has a role: â€Å"to ensure the companys prosperity by collectively directing the companys affairs, whilst meeting the appropriate interests of its shareholders and stakeholders† (Brefi, 2000, p. 2). The board of directors is usually appointed by the shareholders who also have the powers to dismiss it mainly through a vote. The board of directors has different roles that vary from one organization to another. Oversee vision, mission and values of the organization It is the primary role of any board of directors to oversee that the Organization focuses at achieving its vision, mission, and values by continuous evaluation of the organization progress. They have the responsibility of determining values to be upheld and constantly review goals and objectives of the Organization. They are also supposed to set and follow up the implementation of policies in the Organiza tion. A report by Gray (n.d.) was claimed that: â€Å"Directors, no matter what their reason for being elected to a board, are responsible for making decisions and setting policy for the organization† (Gray 1). Carter McNamara (2011) defined the roles of the board of directors as â€Å"oversee the purpose, plans and policies of the overall organization, such as establishing those overall plans and policies, supervision of the CEO, ensuring compliance to rules and regulations† (McNamara, 2011, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Set strategy and structure It is the role of the board of directors to constantly do the SWOT analysis of the Organization in terms strengths, weaknesses, opportunities and threats in the current and future situations to ensure the Organization retains its relevance in the society. It also sets strategies, and ways of achieving them. Most importantly they should the Organization has the necessary Organizational structure and the potential for carrying out the laid down strategies. A report by Score (2011) claimed that the board of directors has the role of â€Å"developing and approving strategic plans, including major commitments† (Score, 2011, p. 1). Delegation It is important to note that the board of directors cannot do or perform all the activities of their Organization alone and as such the board had an important role of delegating all the necessary authorities to other different levels of management beginning with the chief executive officer (CEO). McNamara claimed that it is the role of the board of directors to â€Å"Select and appoint a chief executive to whom responsibility for the administration of the organization is delegated, including: to review and evaluate his/her performance† (McNamara, 2011, p. 1). Accountability to shareholders The board of directors is the e yes and the voice of the shareholders and other stakeholders and as such it has the role of ensuring that the interests, views and expectations are represented in the Organization by effective communication between the management and the shareholders (Brefi, 2000). A report by McNamara also claims that the board of directors must be in a position to â€Å"provide for fiscal accountability, approve the budget, and formulate policies related to contracts from public or private resources† (McNamara, 2011, p. 1) Board competence For a board to be successful it must be competent. The members must be poses strong interpersonal skills, must be well versed about the various operations of the Organization, they must always be available when needed and must be people of honor and integrity.Advertising We will write a custom research paper sample on Board of Directors specifically for you for only $16.05 $11/page Learn More Loyalty to the Organization is a requ irement and the members must also poses diverse global knowledge in various fields such as law, finances which will enable the board to make good decisions. Competence in the board may be developed by proper recruitment of the right individuals to start with. Rigorous and continual training should be prioritized. It may also be advisable to keep on renewing the board from time to time to inject new ideas and dynamism. Martinelli (2011) raised concern that â€Å"nominating committee or board recruiting committee is poorly organized, board members in turn are not likely to have a good understanding of the organization and their role as board members†( Martinelli, 2011, p. 1). Relationship between the board and executive For any meaningful achievement of goals and objectives of any Organization the board of directors and the executive must work together in harmony as a team. Good relationship between the two is therefore imperative. The board of directors must have the will and commitment of understanding all the important details that concerns the Organization since they may be required to make tough, and wise decisions that the executive needs to drive the Organization to the expectations of the shareholders the directors represent. The executive expects the board members to adequately prepare and regularly attend meetings while board of directors expects service delivery and regular briefing in return. Both sides expect full and genuine participation from each other. Collective commitment to teamwork and improvement is also important (Kilmister, 2004). Differences between private sector and non-profit boards The basic roles of both private and non-profit organizations are similar to some extent but on a close analysis there are many differences between the two which generally arise from their purpose of existence. Private board members set the strategies and standards to be met and delegate the task of achievement to the executive unlike non-profit boar d members who are directly involved in raising funds for the organisation. Private sector board members are paid whereas non-profit board members are only reimbursed of their expenses. Private sector board members focus on maximising shareholders investments and have to account for returns unlike non-profit board members who focus on fundraising funds from relevant bodies and focussing their activities to charity affairs (McNamara, 2011, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The role of board members plays a key role in the success of any given Organization. The roles include representing the interests of the shareholders in the Organization, making and implementing vision, mission and core values of the Organization and setting and following up on strategies. Competence is a core requirement and the board members are supposed to be knowledgeable people of high integrity. The board members of nonprofit and private Organizations have differences due to the differences in the functions of the Organizations. The relationship between the executive and the board members is important in that it ensures cooperation and understanding of both parties for the benefit of the organization. References Brefi, G. (2000). The Board of Directors – Roles and Responsibilities. Brefigroup. Web. Gray, C. (n.d) Ethical Responsibilities of Boards of Directors of Non-Profit Organizations. Board Responsibilities. Web. Kilmister, N. (2004). Eight Basic Expectat ions a Chief Executive Has of His or Her Board. TCA. Web. Martinelli, F. (2011). Building an Effective Board of Directors. Create the Future. Web. McNamara, C. (2011). All about Boards of Directors (For-Profit and Nonprofit). Management help. Web. Score, K. (2011). Serving on a Nonprofit Board of Directors. ScoreKnox. Web.

Gandhis Salt March

Gandhi's Salt March On March 12, 1930, a group of Indian independence protesters began to march from Ahmedabad, India to the sea coast at Dandi some 390 kilometers (240 miles) away. They were led by Mohandas Gandhi, also known as the Mahatma, and intended to illegally produce their own salt from the seawater.  This was Gandhis Salt March, a peaceful salvo in the fight for Indian independence. Satyagraha, an Act of Peaceful Disobedience The Salt March was an act of peaceful civil disobedience or satyagraha, because, under the law of the British Raj in India, salt-making was banned. In accordance with the 1882 British Salt Act, the colonial government required all Indians to buy salt from the British and to pay a salt tax, rather than producing their own. Coming on the heels of the Indian National Congresss January 26, 1930, declaration of Indian independence, Gandhis 23-day-long Salt March inspired millions of Indians to join in his campaign of civil disobedience. Before he set out, Gandhi wrote a letter to the British Viceroy of India, Lord E.F.L. Wood, Earl of Halifax, in which he offered to halt the march in return for concessions including the abolition of the salt tax, reduction of land taxes, cuts to military spending, and higher tariffs on imported textiles. The Viceroy did not deign to answer Gandhis letter, however. Gandhi told his supporters, On bended knees, I asked for bread and I have received stone instead- and the march went on. On April 6, Gandhi and his followers reached Dandi and dried seawater to make salt. They then moved south down the coast, producing more salt and rallying supporters. Gandhi is Arrested On May 5, the British colonial authorities decided that they could no longer stand by while Gandhi flouted the law. They arrested him and severely beat many of the salt marchers. The beatings were televised around the world; hundreds of unarmed protesters stood still with their arms at their sides while British troops smashed batons down on their heads. These powerful images stoked international sympathy and support for the Indian independence cause. The Mahatmas choice of the salt tax as the first target of his non-violent satyagraha movement initially sparked surprise and even derision from the British, and also from his own allies such as Jawaharlal Nehru and Sardar Patel. However, Gandhi realized that a simple, key commodity like salt was the perfect symbol around which ordinary Indians could rally. He understood that the salt tax impacted every person in India directly, whether they were Hindu, Muslim or Sikh, and was more easily understood than complex questions of constitutional law or land tenure. Following the Salt Satyagraha, Gandhi spent nearly a year in prison. He was one of more than 80,000 Indians jailed in the aftermath of the protest; literally millions turned out to make their own salt. Inspired by the Salt March, people across India boycotted all kinds of British goods, including paper and textiles. Peasants refused to pay land taxes. The Government Attempts to Quell the Movement The colonial government imposed even harsher laws in an attempt to quell the movement. It outlawed the Indian National Congress, and imposed strict censorship on Indian media and even private correspondence, but to no avail. Individual British military officers and civil service employees anguished over how to respond to non-violent protest, proving the effectiveness of Gandhis strategy. Although India would not gain its independence from Britain for another 17 years, the Salt March raised international awareness of British injustices in India. Although not many Muslims joined Gandhis movement, it did unify many Hindu and Sikh Indians against British rule. It also made Mohandas Gandhi into a famous figure around the world, renowned for his wisdom and love of peace.

Case 5 Study Example | Topics and Well Written Essays - 500 words - 1

5 - Case Study Example The p-value can also be termed as the probability of obtaining the exact value for a model built around two hypotheses are neutral or null. The other one is the hypothesis under testing. In case the p-value is less than or equal to the threshold value previously set, one discards the neutral hypothesis and the test on the hypothesis is considered valid. The concept of p-value can be applied in several fields. In approach of Ronald Fisher, p-value is a key concept where uses it to measure the weight of the data alongside a specified hypothesis and as a standard to ignore data that does not have anything to do with any alternative hypothesis, which is instead a feature of the Neyman-Pearson approach. It should not be contracted with the significance level in the above approach defined by Neyman-Pearson approach. Essentially, the p-value does not in itself give support reasoning about the likelihoods of hypotheses, nor selecting among unlike hypotheses–it is just a measure of how possible the data have happened by coincident, supposing the null hypothesis is correct. Arithmetical hypothesis experiments making use of p-values are normally applied in many fields of science and social sciences, such as economics, criminal justice and criminology, psychology, biology, and sociology (Tai, Bee, and David 21). Regression is a degree of the relation among the average worth of one variable and conforming worth of the additional variables. In the other hand, coefficient is the numerical quality placed before and reproducing the variable in an algebraic. Regression can also be referred as the factor that measures some possessions. Regression scrutiny generates an equation to define the statistical interaction between one or more forecaster variables and the same reaction variable. The p-value for each term examines the null hypothesis that

Pros and Cons of Horizontal and Vertical Analysis Essay

Pros and Cons of Horizontal and Vertical Analysis - Essay Example The above table presents the horizontal analysis of Nike for the three quarters such as Q2, Q3 and Q4 ending November 2012, February 2013 and May 2013. In the horizontal analysis, each line item of income statement is divided by the total revenues figure in order to check the percentage of that line item with respect to sales. If cost of sales of Nike is considered, it can be observed that it has remained quite consistent in all the three quarters and remained around 56% of sales (Nike Inc., 2013). Accordingly, the gross profit margin of the company is around 44%. Nike incurs substantial expenditure over its demand creation activities such that this expenditure covers around 10% of sales every quarter. As far as operating overheads of the company are concerned, the company absorbs the expenditures at around 20% of sales level which remained consistent in previous three quarters. Similarly, selling and administrative expenses of the company are around 30% of the turnover of in each of the three quarters. Other incomes and interest incomes are nearly negligible such that they do not even constitute to 1% sales level. Income before taxes has been improved by 2% in third and fourth quarter as compared to second quarter. Income tax expenditure of the company is also improving, i.e. showing a very minute decline on quarter-level percentages. Net income of the company has increased to double figures especially in third and fourth quarter. Overall, from the horizontal analysis of income statement of Nike, it is quite evident that the company has performed well and maintained consistent percentages of sales in the last three quarters. Vertical Analysis – Balance Sheet    May-13    Feb-13    Nov-12 ASSETS    Current assets: $ in million % change $ in million % change $ in million Cash and equivalents 3,337 30.50% 2,557 11.61% 2,291 Short-term investments 2,628 76.97% 1,485 20.34% 1,234 Accounts receivable, net 3,117 -3.56% 3,232 1.38% 3,188 Inventories 3,4 34 3.15% 3,329 0.33% 3,318 Deferred income taxes 308 12.00% 275 -15.90% 327 Prepaid expenses and other current assets 802 -9.07% 882 20.33% 733 Assets of discontinued operations 0 -100.00% 29 -91.57% 344 Total current assets 13,626 15.58% 11,789 3.10% 11,435 Property, plant and equipment 5,500 2.42% 5,370 1.13% 5,310 Less accumulated depreciation -3,048 -1.99% -3,110 1.90% -3,052 Property, plant and equipment, net 2,452 8.50% 2,260 0.09% 2,258 Identifiable intangible assets, net 382 1.60% 376 0.53% 374 Goodwill 131 0.00% 131 0.00% 131 Deferred income taxes and other assets 993 -6.23% 1,059 8.84% 973 TOTAL ASSETS 17,584 12.61% 15,615 2.93% 15,171

Comparing For Profit and Non for Profit Colleges Essay Example for Free

Comparing For Profit and Non for Profit Colleges Essay Colleges and university have slowly become one of the stepping stones into the working world today. People go to colleges for higher education with the intention of earning degrees in which they can use in their respective fields. Some example degrees that people pursue are Medical, Law, Business, Accounting, and Science Degrees. Through the years the idea of college was that it was optional and it was a door for better life and job. However in the modern times, it become a necessity. It all started when the colleges once single- gender institutions target specific students in their respective demographics. Today, the college market has now been divided into two major categories: Not-for-Profit Colleges and For-Profit colleges. Not-For-Profit Colleges are institutions that are interested in serving the students needs by providing necessary education to the student. The Not-For-Profit organization are tax exempt and have a board of trustees that makes decisions. For-Profit Colleges are run like a business in which their goal is to generate income for their owners and shareholders. There are no board of trustees at For-Profit College and the owner and shareholders control the decision on which is best for the institution. Although the objective for both Not-for-Profit Colleges and For-Profit College is to provide their students an education in which they can use for their future, both institution have great differences in which their organizations are run. Although the primary objective For-Profit colleges is to provide an education, they are merely a business in which their goal is to earn a profit. Like any business, the For-Profit Colleges can be setup as a sole proprietorship, partnership, or even a subsidiary of a larger company. The For-Profit College can also be setup as a corporation that have stocks traded on the stock markets. They will try to bring earnings and a return on investment for all their shareholders and investors. They can have great flexibility because at the end of the day, the goal for the For-Profit College is to make money and only that. The instructors that are hired at For-Profit Colleges usually have a very different approach to their teaching compared to Non-For-Profit Colleges. Usually they are merely there to carry out the lesson plans in which was designed by the institution. Majority of the lesson plan given to each student is standard which means the instructors do not have the liberty to create their own curriculum or lesson plans. This is also due to the purpose of the education given is to assist the student in getting specific jobs with specific job functions. The courses at the For-Profit college is to help the students get better jobs in the market while the courses at Not-For-Profit College intend to allow the student learn and grow within their respective fields. Students that enter For-Profit colleges already have a plan in terms of type of jobs they would like to pursue and they enroll in the necessary courses while some students at Not-For-Profit College have no idea which career that they would like to pursue. Not-For-Profit college help you learn and gain the knowledge in the field that youre interested in while For-Profit colleges prepare you for the specific job that you want to do. The admission process for For-Profit schools are not as selective as the one in Not-For-Profit College. There isnt much prior evaluation of the student since their main goal is to make a profit. They tend to be more flexible in terms of their requirements and appeal to students of all ages and races. Modern day classes can be taken online and at more convenient times such as nights and weekends to accommodate students that work full time. Online has also been the new trend because of the lower overhead costs for the For-Profit institution. For-Profit institutions tend to not have a campus like the Not-For-Profit colleges do. For-Profit colleges classes is usually at their own building or leased space. There isnt any services such as on-campus food or housing that is available to the students at For-Profit institutions. The college provides students with the education that they need for their desire jobs rather than a college experience that a Not-For-Profit college can provide. For Profit institutions conduct their accounting the same as any regular business would do. Their main goal is to make a profit just like all businesses would do. For-Profit institutions must comply with the Federal Accounting Standard Board. The tuitions are recorded as revenue while the expenses include leases, staff, and maintenance expenses. For-Profit colleges budget system must include tools to forecast budgets, manage variance and generate financial reports. The budget forecast is designed to estimate revenue and expenses to its income center, administrative cost structure, and its academic schedule. The income center budget includes enrollments, revenue, and expenses by academic period. Administrative expenses include administrative costs per student and personnel pay ranges. The budget should also include financial report to show if the institution is profitable. Statements such as cash flow statements, net income, and balance sheet should all be included. The budget must also be flexible enough in case that their projections arent accurate. They should be easily accessible so that managers can routinely check if their performance is above, below, or even on target. To determine if the institution is on track with its budget and strategic plans, they would measure their six categories in their budget to get a better picture of the institutions performance. They are new students, enrollment, cost performance, revenue, net income, and cash flow. This way they would also be able to measure the efficiency of their institution also. The goal for Not-For-Profit Colleges is to provide students with higher education and help them advance in a particular field. Not-For-Profit Colleges are traditional college such as community colleges, state universities, and liberal arts colleges. These institutions gain funding to provide their services from the government subsidy, tuition fees, and donations. All the income that are received is strictly used for institution purposes. Some examples are professors, staff, maintenance, utilities, or even computers that the school needs and student needs. All the money is given back to the institution in some way. The professors hired at a Not-For-Profit College design their own courses and create their own course curriculum and lesson plan. They can provide the education in their courses with their own individual styles and lesson plans. The professors are under the guidance of the Board of Trustees, which is composed of different representatives that make decisions for the college. Not-For-Profit colleges are mainly to provide education for the student who are enrolled in their institution. The classes are usually on a campus in which the student spends a majority of their time at. The board of Trustees focuses on improving their campus for the student. The Board of Trustees is constantly making decisions from an academic, campus, and efficiency perspective in order to provide the best possible service for their students. Not-For-Profit Colleges select their students through a vigorous and selective process. Students usually express interest in attending the college and then the college decides if the student would be a good fit for the college. After being accepted, the student would be able to earn a scholarship to help with the room and board that the college charges. Not-For-Profit Colleges are selective of the students since they strive to serve students who would fit the reputation of the institution. This selective process allow college to focus on the needs of the students that are a good match for the college. From an accounting perspective Not-For-Profit colleges follow the rules of Governmental Accounting Standards Board who is responsible for Generally Accepted Accounting Principles used by the United States. The Governmental Accounting Standards Board issues statements that deal with the accounting principles and financial reporting rules of government and other Not-For-Profit organizations. Like all Not-For-Profit organization, these college contribute without expecting commensurate returns. Their main purpose is to provide education to the students that enroll in their school. Most of their income for these colleges come from the tuitions and fees they receive from their student. Other income comes from donation and government subsidies. When a Not-For-Profit College receives tuition payments and fees in full from students the college is supposed to record it at a gross amount, as any revenue would be recorded. If a student meets certain criterion that allows them to attend a publicly funded not-for-profit institution, tuition may be waived in the form of a tuition waiver. Tuition Waivers are reported as a contra-revenue account reducing the revenue account. If the college has any debts, they are recorded just as businesses record them as the debts are recorded with institutional support expenses. Students may pay for college with scholarships which are essentially amounts contributed for the education of a selected individual. Scholarships are given for a range of reasons including high academic standing, membership in certain societies, or awards. However there are two main sources of scholarships which are an outside donor or the scholarship is awarded by the college itself. If the scholarship is from an outside donor the not-for-profit college simply collects the amount receivable from the donor. If the scholarship is awarded by the college itself the accountant reduces the college’s accounts receivable. This reduction in the accounts receivable is recorded as an expense to education and general student aid. Certain expenses of a not-for-profit college are unrestricted net assets classified as instruction expense, research expense, public service expense, academic support, student services, institutional support, operation and maintenance of plant and student aid. Not-For-Profit Colleges cannot operate on tuition fees alone as all the money is immediately put into the school. Fortunately as a Not-For-Profit organization these colleges may receive governmental subsidies as support revenue. There are two types of government subsidies classified as unrestricted and restricted. Unrestricted subsidies are intended for the college to use in general operations. The Board of Trustees also has the power to decide whether a subsidy is unrestricted. Restricted subsidies can be split into either temporarily or permanently. These subsidies often are given for a certain purpose such as an expansion or special project. The restrictions on these subsidies refer to the amount that can be spent and when it can be spent. Sometimes the government may also provide students with grants, which are similar to scholarships in the sense that they are provided to help students reach their financial needs for school. Government grants can both be state or federal and come from government programs such as Pell or the Federal Supplemental Education Opportunity Grant. Similar to scholarships the college may either distribute the cash to the proper students or receive the amount that is to be distributed. If the college decides to receive the grant then it is recorded as a liability in the â€Å"Grant Funds Held for Students† account. Not-For-Profit colleges usually also have an endowment fund which is used to help finance the operating expenses of the organization. Aside from the general endowment the institution may also have restricted endowments intended for specific purposes such as professorships, scholarships or fellowships. For cash received from permanent endowments it is recorded as a contribution and the income is restricted to student aid. Any income received due to an endowment is temporarily restricted and the cash is meant to be spent on student aid. The other services that a Not-For-Profit College provides are the Auxiliary Services. The Auxiliary Services are the services and amenities of the campus. Examples of such services are residence halls, food services and the college athletic teams. These services are classified under unrestricted revenues and expenses. The total of the accounts from the auxiliary services are reported on the Statement of Activities for the College and subsidiary records are also kept. The Statement of Activities for the Not-For-Profit College will usually list the Revenues combined with Total Net Assets Released from Restrictions for Operations to get the Total Revenues and Reclassifications. The next section is usually the Expenses section followed by any Net Change in Unrestricted Assets, Temporarily Restricted Assets and finally Permanently Restricted Net Assets. The Statement of Activities is then followed by a summary on the Change in Assets for the past year. Even though the main purpose of both For-Profit and Not-For-Profit is the same, the way that they function arent necessary the same. The accounting standards and rules that they follow both are very different. Also the rules that both colleges follow are extremely different. Both colleges have their strength and weaknesses in their way that they serve their students. The student should chose the type of college they want depending on what their needs are. If the student is looking to advance their education they should be looking for a traditional Not-For-Profit College. If they are trying to land a job that has technical skills which are required, then the For-Profit College is a better option.

Joyces Clay an Explication Essay -- essays papers

Joyces Clay an Explication Maria is a humble woman leading a life tinged with longing. She recognizes and values her independence, yet at the same time moves in a tide of inevitability towards the place molded out for her within the relatively staunch social caste system of Dublin. The substance of her individuality is put in jeopardy by is plasticity to external forces; she is a woman made of clay. It seems her calling within society is that of a nun, however it is evident that still flickering insider her is the dream to escape this imposed destiny, to live a life like the one depicted in the song she sings, I Dreamt that I Dwelt. The fundamental conflict between Maria's individuality and the pigeon holing forces of society is the underlying tension of the story. Joyce makes us feel that her chances are slim in standing against the currents leading her towards life in a convent. However, Maria's destiny is far from written, both literally and metaphorically, and so we are left with the esperance, however sm all, that she may break of the manacles of her born position and dare to lead a truly independent life. Maria is all things of a woman predestined to enter a convent. Even her name, meaning Mary, points to this ecclesiastical inertia. Early in the story it is Joe who says of her, "Mamma is mama but Maria is my proper mother." (Joyce, 96) Joyce knows in writing this the probability that all our minds will immediately spring to the a likely connection: that of the Mother Mary. Adding to this composite portraiture are Maria's tendencies of phrase, "Yes, my dear and No, my dear" (Joyce, 95) which, in our minds, easily adapt to the cliches of the convent Yes, my child and No, my child. Further, Maria is regarded as a "ver... ...use of selfless and humble nature of Maria, to wish for her the life she sings of in I Dreamt that I Dwelt. We fear however, that the likelihood of her ever leading a life so full of freedoms is made slim by her tragic inability to assert herself. Joyce forces the attentive reader to consider her place in society, and to examine how the balance plays out between the inner forces of self and the outer forces of society. In the end, after Maria has omitted the second verse of her song, the narrator tells us that "no one tried to show her her mistake." We are left to wonder if this instance is to be understood as representative of what the future holds for her. Will Maria ever be shown her mistake? Will she come upon it herself in a moment of introspection? Joyce is only mute to these queries, leaving us gently where he picked each of us up, to our own imaginations.