Morality & differentiate Essay Example for Free

Morality differentiate Essay Morality is defined as the ability to differentiate what is right and what is wrong. While the concept may seem simple enough, in reality however it is much more complex than that. The main question is how does one define right and wrong? If something is deemed as â€Å"right†for one person, does it automatically mean that it is the right one for another? This rather confusing view of morality is exemplified in the current saying that â€Å"one mans terrorist is another mans patriot. † Truly, morality is not that easy to define. Morality however it seems is more often than not defined by the society at large. A society is define as a group of individuals that have common interests as well as have their own culture. This concept of society and morality is highly apparent in the novel by Azar Nafisi title â€Å"Reading Lolita in Tehran, A Memoir in Books. † Nafisi is in Iranian scholar who emigrated in 1997 to the United States. The book mentioned in the title is the novel by Vladimir Nabokov which tells the story of a middle aged man who has sexual obsessions with a pre-teen girl, specifically a twelve-year old girl. Although Nafisis novel isnt just about this particular book, Lolita is however one of those books considered as controversial in Iran. Novels like One Thousand and One Nights, Invitation to a Beheading, The Great Gatsby and Pride and Prejudice, are also included and their similarity to what is happening in Iran. It is Lolita however that gets a rather good exposure in the book. Nafisis novel however goes much deeper that what the title actually says. It gives a rather good view on what happens to the people when a society suddenly changes its view on things. Nafisis book gives a closer look to what happened in Iran when Ayatollah Khomeini gained power after the Islamic revolution. One of this was the decree requiring women of Iran to follow a dress code. Iranian women were now required to wear veils. An issue that Nafisis tackles a lot in her book. This simple decree caused a great deal of change in Iran. Prior to the decree, Iranian women did not wear veils. For most women, the decree was considered as a restriction to their freedom. Women who do not follow this rule are often detained. As a result, wearing the veil also restricted how people interacted with one another. One reason for this change in interaction is the differences in their reactions to the decree. While some stated that they â€Å"hated†it, others supported it saying it made them feel more â€Å"relaxed. † In general though, women who did not wear veils were considered immoral and even unchaste by the society at large. The decree requiring the veil also allowed for segregation and discrimination. The veil made women have a less status that the men. The veil did not only change the relationships that people had with each other but also on their individual roles and responsibilities. While women were still allowed to go to universities, these were still subjected to suppression by those in power. Segregation was not the only thing that was practiced in the universities but those who were found talking to the opposite sex were punished by the religious authorities. In fact, because the school where Nafisi taught was rather liberal, school officials were often asked if they believed the school was located in Switzerland, the word being connected with all things considered decadent and lax. The wearing of the veil also made women subservient to men who had to follow whatever was said to them. This change in culture actually continued despite Khomeinis death. According to Nafisi, Khomeinis real death would only come when women were not required to wear scarves in public anymore. By interjecting the novel Lolita in her book, Nafisi shows what the society truly is. A country doing its best to live in a fantasy world. In Lolita, the main protagonist Humbert Humbert, wishes to have the perfect Lolita. Implementing the decree on the wearing of the veil in reality reveals Khomeinis dream of having a truly perfect Koranic society. Nafisi argues that much like story, where Humberts pursuit eventually destroys Lolita, Iran may likely experience the same. Living in a fantasy world though may not be that bad. Nafisis book tells us that we all need to create a paradise to escape into. ( 281) She however immediately corrects this and say that â€Å"fiction was not a panacea, but it did not offer us a critical way of appraising and grasping the world not just our world but that other world that had become the object of our desires. † ( 282) Going back to Lolita and its relation with the Iranian society, Iran is much like Humbert who despite molesting the young Lolita, appears normal in other parts of his life. By implementing a standard on morality, the Iranian society was telling people that it was normal to do so in order to run the country better. And like Humbert, the Iranian society does not blame itself but others for what is wrong. Humbert wants Lolita to become what is perfect for him, no different from what the regime wants for its citizens. The Iranian regime blames the â€Å"dissidents† for what has happened to the country hence the imposition of the new rules or codes of morality. The new codes of morality while restricting activities of most of its citizens, have also made their lives more exciting. What was then ordinary activities where now being done as a secret mission. People who wanted to watch foreign films, eat ice cream, or even meet without wearing veils were doing so in secret. Thus while the citizens were openly showing their support for the rules, they were also secretly doing normal things that were now considered as taboo. The imposition of codes of morality this did not totally alter the responsibilities of the citizens and their roles but only on how they performed it. As mentioned earlier, the issue of morality is a very complex one. By imposing a standard on morality, the Iranian regime thus changed the way its citizens behaved. Women now found their freedom curtailed as they were required to wear veils and not allowed to talk to persons of the other sex. Activities that were regularly considered as norm where now being done in secret. While most people were still allowed to hold their jobs, they faced the constant scrutiny of the religious sector. While Iranian women and people around the world viewed these changes as something negative, the regime however defended its actions by stating that the change was needed. Thus even if the propagator, Khomeini, had died, the practice continued. Another effect that the rules had, specifically on Nafisi, was her having to quit the university and teaching a class and discussing books in secret. For Nafisi, the university was no longer a place where students can have honest discussion asking how could one teach when the main concern of university officials was not the quality of ones work but the color of ones lips, the subversive potential of a single strand of hair? (11) This activity leads to Nafisi bonding with her students since most of them feel that they have been made irrelevant by the new regime. The rule requiring women to wear veils becomes more oppressive when Nafisi reveals that when the students that decided to be with her came to the room, their removing the veils and scarves was an act that was not as simple as one imagines. According to Nafisi, â€Å"each one gained an outline and a shape, becoming her own inimitable self. † (5) Because of their continuous gathering, they begin to have hope. The students draw on the parallelism on what they are currently experiencing with what they are reading. Nafisi explicitly states in the book that â€Å"[h]ope for some means its loss for others; when the hopeless regain some hope, those in power the ones who had taken it away become afraid, more protective of their endangered interests, more repressive. † (276) What this tells us is that instead of just living their lives simply, getting jobs and having a family, Nafisi, her students, and maybe some other Iranians, now found a different purpose in life. They know that they have to be strong if they want their society to change. That even if hope is all that they have left, it is better than nothing. On reading the book, Heywoods point that morality is actually concerned with not only the ethical questions but also how right and wrong are different is made clearer. The question that arises is how can an individual survive if that person has a different perception on himself or herself which is different from what society says? The answer is not simply to become political and institute change. Although it can be considered that the personal is political, at the core of the fight for political rights is the desire to protect ourselves, to prevent the political from intruding on our individual lives. (273) Imagination or fantasy is the one that bridges the political and the personal. The regimes first task had been to blur the lines and boundaries between the personal and the political, thereby destroying them both. (273) In summary, we need to keep in mind what a society is. A group of individuals with something in common and that includes moral principles. When a society has different principles on morality, like what happened in Iran, nothing good can come out of it. This is most true when a society that has experienced freedom before is suddenly restricted. Some groups will feel oppressed and will fight it. Those in power meanwhile, will do what they to prevent that from happening. The one good thing about Nafisis novel is that it does not in provide any political analysis on the situation in Iran. Rather it is about what people can do despite the tyranny around them. That students can learn when they apply and feel what they have read. Morality will always be a very tricky issue. The debate on the concept of right and wrong will not end overnight. If there is one thing that Nafisis novel teaches us, it is that setting a standard for morality is not an answer.

Between 1995 and 1997 the effective exchange rate of the pound sterling :: Economics

Between 1995 and 1997 the effective exchange rate of the pound sterling appreciated by 20%. What factors might explain this increase in the value of the pound? 5. Between 1995 and 1997 the effective exchange rate of the pound sterling appreciated by 20%. (a) What factors might explain this increase in the value of the pound? There are several reasons that contribute to the appreciation of the pound. INTEREST RATES Interest rates have a large effect in a world where financial capital can move freely between countries. If for example the UK interest rates are high relative to elsewhere this attracts inflows of money into the UK seeking to take advantage of the high interest rates. This "interest differential" boosts the demand for the currency and can cause its value to rise. ECONOMIC GROWTH Countries experiencing a rapid economic growth often find that their exchange rate is strengthening. Traders in the currency markets may take the rapid growth to be a sign of general economic growth and "mark up" the value of the currency as a result. Also economies with strong "export-led" growth may see their currency's rise in value. Japan is a good example of this in recent years. The Euro was weak during the first six months of its existence in part because the financial markets were worried about the slow growth of the European economy and the persistently high level of unemployment. INFLATION As with the UK, as there are low levels of inflation, this has meant that our goods have become cheaper and demand for our exports has increased. Foreigners have bought pounds to finance our goods. This has meant that the value of the pound has increased. However this is like a cobweb with many downsides such as a rise in inflation as exports are a component of aggregate demand. In the long run, those countries with higher than average inflation see their exchange rate fall. When inflation is high, a country becomes less competitive in international markets causing a fall in exports (a demand for a currency) and a rise in imports (a supply of currency overseas). A fall in the exchange rate may be needed to restore a country's competitiveness in overseas markets. THE BALANCE OF PAYMENTS When we operate at a current account surplus i.e. when our exports>Imports, then foreigners will need pounds in order to finance the exports we sell them. They will buy pounds. This will result in the value of the pound to increase. Selling exports represents a demand for the domestic currency from foreign importers. When US consumers buy British Whisky they supply dollars and this is eventually translated into a demand for pounds.

Profile prepared by Management Analysis Corporation

Do you believe that the diagnosis and resulting profile prepared by Management Analysis Corporation was a necessary step in the process of finding potentially successful general managers? ExplainThe profile prepared by Management Analysis Corporation is the first step in the process of finding a potentially successful of general managers, but it is not the only step. Actually, after MAC has understood very clearly the needs of Dancey Electronics, they could picture the perfect leader. Once this was done, they could see what skills must be innate and what skills can be learned to become a leader. Then, MAC could propose one more interview to the candidates. For example, the candidates are faced to a concrete leadership problem, and they need to solve it very quickly.MAC should analyze reactions of the candidates and pick the best one. This means picking the person who has the best ability to change and to adapt to a new situation. So, I do not know yet if Joe Morris could be the good candidate for leading Dancey Electronics.Moreover, I think that the analysis done by MAC is a good way to find a potentially successful group of general managers because it accually describes the ideal qualities of being an effective general manager and at the same time gives us ideas about the relationship and task orientation of each candidate along with analysis of some important environmental factors that might have some effect on their leadership style, such as the company’s expectation and the subordinated expectation for the behavior of general managers.However, I think Management Analysis Corporation should analyze the behavior of the followers more. This way, MAC will know what leadership style would be the best for the group.What alternatives are available to modify Joe Morris’s potential effectiveness in the new general manager position?Joe Morris has a high task orientation it means he can apply an initiating structure focused on goals and results. But it i s not enough to lead a team. Joe Morris has to be more relationship oriented. We know that Joe Morris has low skills in relationship orientation. But a leader needs to communicate with his team to have an influence on the behavior of the individuals. If Joe Morris does not change, he could only be a manager, but not a leader. As we learnt in class, â€Å"leaders do the right things, managers do things right†.According to the Fielder theory, Joe Morris can make changes to be more relationship-oriented. He can spend more informal time (lunch, leisure activities) with his subordinates. He can also request particular people for work in his group. He can be a volunteer to direct difficult or troublesome subordinates. He can suggest or affects transfers of particular subordinates into his unit. Finally, Joe Morris can raise morale by obtaining positive outcomes (special bonuses, time off, attractive jobs) for subordinates.Moreover, Joe Morris should follow a training session to dis cuss and analyze his leadership situation. This way, he can understand his performance and improve it. If Joe Morris increases his position of power, he could be a better leader because he would repair his lack in relationship orientation.Why will it be difficult for Joe Morris to modify his style of leadership?Joe Morris knows how to organize and define the relationships in the group and he establishes well-defined patterns and channels of communication, and spells out ways of getting the job done. So it is a good start. But it would be difficult for him to modify his style of leadership because it is very hard to change him. Moreover, he does not have an overall insight of the company. He needs to fit in the group to eventually change. Considering that Joe Morris is far away from a good relationship orientation, it might be very difficult for him to understand what changes he has to do to modify his style of leadership.It also may be hard for Joe Morris to change his style of lead ership due to the argument against the path-goal theory whereby subordinates play a rule  in the leadership style of the manager. In that, Joe Morris has a low score in relationship orientation which means that his relationship with the employees may not be as effective and efficient. As a result, although Morris my want to change his leadership style type, employees may not be as willing to change given his low relationship orientation which therefore makes it hard for him to change his leadership style.But on the other hand, according to the Leader-Member Exchange Approach, there is no consistent leader behavior across subordinates and Joe Morris can behave in different ways with his future followers than he used to. So he may not have to change his style of leadership and still be appreciated by his followers. Therefore he will become a good leader.

The Principles Of Freedom Of An Individual - 934 Words

CHAPTER ONE INTRODUCTION The principle of freedom of an individual is the core tenet of liberalism. The foundation of liberalism is categorized into three. The first is the freedom from arbitrary rule, termed â€Å"negative freedom† which includes freedom of the press, equality before the law, freedom of conscience and right to property. The second set of rights ensures the protection and promotion of the capacity and opportunity for freedom, which is called the â€Å"positive freedom.† Example of such rights are the social and economic rights to health care, education, gainful employment, for human dignity and participation in the society. Thirdly, political rights of democratic representation or participation i.e., right to vote or be voted for to ensure that the other two rights are not infringed on (Kant Political Philosophy, 1993. p. 173). Liberalism today could slightly be different with earlier views as a result of changes in time and history however the fundamental tent of liberty and the ideals of freedom, equality, independence as expressed by Kant remains the same and paramount. Several philosophical views regarding modern political thought on state of nature, social contract and division of powers has immensely been written by both Locke and Kant in their era. REFERENCES CHAPTER TWO MAIN BODY The philosopher emmanuel kant: introduction to profound political thought He was an eighteenth-century philosopher during a period dominated by the ideas of theShow MoreRelatedThe Principles Of Individual Responsibility And Freedom928 Words   |  4 Pagesover the people; telling them that they cannot succeed except under a collective authority instead of being individually motivated and driven to succeed by the principles of life, liberty, and the pursuit of happiness. 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A major debate at the heart of liberalism is how to achieve freedom, positive freedom where the state ‘enables and empowers’ the individual to do more and therefore that individual is more free, or negative freedom where the gov’t should be rolled backRead More John Rawls and Political Liberalism Essay1640 Words   |  7 Pagesjust and stable society of free and equal citizens, who remain profoundly divided by reasonable religious, philosophical, and moral doctrines?† (Rawls 4). More specifically, how do the se concepts help to preserve the traditional liberal values of freedom and equality? And do these concepts help to preserve stability within a pluralistic society? John Rawls book, Political Liberalism, addresses the need for the reformation of the unjust democratic constitutional regime. According toRead MoreThe Battle Of The Confederate Flag1321 Words   |  6 Pagesshall be protected as long as they do not cause reasonable harm to another individual. It is incredibly difficult and unjust to promote a system to which state authority prevents speech that they find offensive. It is nearly impossible and impractical for a state entity to understand what can and can’t be considered offensive, and what is offensive to some and not to others. That is why the harm principle is a great principle to understand the limits of how far free speech should and can go. Free speechRead MoreKantian Ethics And The Categorical Imperative Essay1581 Words   |  7 Pagesmorality and ethics, particularly his â€Å"a priori principle† on human rights. Although Kant ultimately developed enlightenment era political theory, many of his vie ws are often seen as bizarre or even controversial at times, particularly in regards his â€Å"a priori principles† of the people and the Categorical Imperative itself. By further analysis of the categorical imperatives and critiques, objections, and the theory’s connections with the â€Å"a priori principles,† Kantian philosophy implication as well as

Analysis Of The Book Angela s Ashes - 1259 Words

What defines true happiness? Happiness is like the white light that guides you through the darkest of tunnels, helps you get through the toughest of times and the most difficult obstacles. Everybody has their own true happiness just like everybody has their own personality. Some may argue that true happiness is settling down with a wife and having a family but on the contrary many may argue that being single and living life on their own is the way to be. We will see the similar thoughts of this white light trending through each these three books; An American Childhood, This Boys Life, and Angela’s Ashes. In the book Angela’s Ashes, we can see this notion come true through Frank McCourt’s writings. Frank lives in a cold wet Ireland a place that does not always scream happiness. He lives a daily life of poverty, constantly struggling to find food. It didn’t help anything that his father was an alcoholic and sat in the pub every Friday to drink away the famil y’s money for food. The death of family members is a constant reminder to Frank the darkness of Ireland and the clear state of depression that him and his family was in. Frank had to take all of this in at a young age forcing the poor child to mature quickly for his age. All Frank dreamed of doing was leaving Ireland and proving everyone who looked down on him wrong. He wanted to rise from poverty and be able to help his family. We can see this drive to leave Ireland and the poverty, we see this as Franks white light.Show MoreRelatedReed Supermarket Case32354 Words   |  130 Pagespublisher any trademark ownership rights in such trademarks, nor does the use of such trademarks imply any afï ¬ liation with or endorsement of this book by such owners. Pearson Education is not responsible for the content of third party internet sites. ISBN 978-0-273-72622-7 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Li brary of Congress Cataloging-in-Publication Data Hollensen, Svend. Global marketing : a decision-orientedRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pageslamentable. Taken together, the key themes and processes that have been selected as the focus for each of the eight essays provide a way to conceptualize the twentieth century as a coherent unit for teaching, as well as for written narrative and analysis. Though they do not exhaust the crucial strands of historical development that tie the century together—one could add, for example, nationalism and decolonization—they cover in depth the defining phenomena of that epoch, which, as the essays demonstrateRead MoreLogical Reasoning189930 Words   |  760 PagesDowden This book Logical Reasoning by Bradley H. Dowden is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions: (1) Attribution You must attribute the work in the manner specified by the author, namely by citing his name, the book title, and the relevant page numbers (but not in any way that suggests that the book Logical ReasoningRead MoreIgbo Dictionary129408 Words   |  518 Pageswork, a Dictionary of the Ibo language: English-Ibo (1923). This latter work was also largely the responsibility of Dennis, and it is listed under his name in bibliographies, although his name does not appear on the title-page. The preface to this book gives its history as follows: While the Union-Ibo Version of the Bible was being prepared, the Assistant-Translator, Mr T.D. Anyaegbunam, was asked to make a list of new words as they occurred. Many additions were made to the list by the late Archdeacon

Comparing Two Love Sonnets by Sir Thomas Wyatt and Sir...

Love is a difficult thing to express in words in any given language. It is near impossible to convey the paradoxical pain and pleasure of love that sounds dreadfully horrid but simultaneously magical. Most people are often confused and have a hard time figuring and sorting out exactly how they feel and felt about their love and relationship. However, to love someone or be loved by someone is a special gift, and to be able to convey your gratitude for whatever you received out of the relationship is an extremely intense and concentrated task. Poetry is one of the best ways to express oneself sincerely. With the time and convections that go into writing poetry, it allows the reader to think of exactly what he or she desires to say, and†¦show more content†¦The last quatrain is the ending to the narrators thought, which is then summarized in the ending couplet. The ending couplet reads: Then farewell world, thy uttermost I see; 13 Eternal Love, maintain thy life in me. 14 The ending couplet acts as a sort of last word for the sonnet. It is usually not specific, but generalized to convey the basic idea of the sonnet and what the author was essentially trying to say and what he has come to after his experiences. This gives the poem a very solid feel to the ending; it feels like a catharsis for the narrator. Although similar in form and topic, the theme and tone of the two sonnets are not entirely similar. Both of the sonnets are based on love and the complex emotions that come from it, but they both do not share the same end feeling toward the general concept of love. In Sir Thomas Wyatt the Elders Farewell, Love, the narrator seems to be accepting of the failures that sometimes occur with love, and seems a little saddened and used by love and relationships. The tone that the narrator gives is that he has lived and experienced and doesnt care or feel the desire to experience anymore. This is emphasized with the last two lines of the poem that rea d: For hitherto though I have lost all my time 13 Me lusteth no longer rotten boughs to climb. 14 He generally sounds like he is too old to deal with the fickle and uncertain ways of love anymore. In Sir Philip SidneysShow MoreRelated Sonnets 18 and 130: Defending and Defying the Petrarchan Convention1241 Words   |  5 PagesSonnets 18 and 130: Defending and Defying the Petrarchan Convention  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚   During the Renaissance, it was common for poets to employ Petrarchan conceit to praise their lovers. Applying this type of metaphor, an author makes elaborate comparisons of his beloved to one or more very dissimilar things. Such hyperbole was often used to idolize a mistress while lamenting her cruelty. Shakespeare, in Sonnet 18, conforms somewhat to this custom of love poetry, but later breaks out of the mold

Conceptual Framework and Supporting Evidence †MyAssignmenthelp

Question: Discuss about the Conceptual Framework and Supporting Evidence. Answer: Introduction: Relevance and faithful representation are the two qualitative characteristics of accounting standard that deals with legitimacy and descriptions of values presented in the financial statements (Zeff, 2016). Relevance qualitative characteristics depicts that accounting information presented in financial report of business must be relevant that should take into consideration the capability of organization to generate cash flow. These two fundamental qualitative characteristic make information provided in statements useful for decisions making. Accounting information must assist users to make difference in decision using the concept of relevance. Information does not have any impact on decision making of individual are considered as irrelevant. Financial information having confirmatory or predictive value would be able to make difference. Faithful representation on other hand represents the item that is representative of phenomenon in real world (Smith, 2017). The relevance qualitative characteristics emphasize that information used in financial statements must be relevant to users as economic decisions of users are influenced by such information (Sheppes et al., 2014). This requires organization to involve reporting of information as misstatement or omission of such information affects the decision of users. On other hand, concept of faithful representation requires that financial statements must be faithfully presented in according with accounting standards. It is one of the fundamental characteristics that must be possessed by accounting standards. There are three characteristics involved in the characteristics faithful representation that is neutrality, completeness and freedom from errors. A need for consistent measures was highlighted using the concept of faithful representation. Faithful representation is dependent upon some conditions and information that is intended to be presented. Completeness- Information presented must be accurate and complete and their omission would lead to depiction of misleading phenomenon and accounting activities (Rahman, 2013). Neutrality-There should not be any bias in accounting and they should not be altered in a way that is able to influence the decision of users. This particular factor depicts that information should be adhered to accounting standards. Free from material errors- It is certainly possible to avoid all errors and they are not possible to eradicate. However, it is necessary to correctly represent and depict accurate results (Penman, 2013). For the users of financial statements concept of faithful representation is considered a necessity because they do not have expertise and time for carrying out evaluation of the factual content of the information provided (ORiordan Fairbrass, 2014). It can be said in other words that facts and figures represented in the financial statement match what exactly happened or existed. For information presented to be faithful, it requires them to be neutral, free from material error and complete. Therefore, in order for accounting information presented to be useful, the two fundamental characteristics that is require are faithful, representation and relevance. For making accounting information useful, accounting standard have designed qualitative characteristics and relevance is considered to be user specific characteristic. For examining and measuring relevance, it is required by user to have perception that is taken in account. Faithful representation characteristic that is dependent upon users to have an acceptable level of reliability that is determined by current situation along with their risk acceptance level. Certain research conducted does not indicate any tradeoff between relevance and faithful representation. Extension of faithful representation should be made to all types of financial statement including the financial position, cash flow and result of operations (Miller Power, 2013). It is essential for organization to prepare its financial statements that is free from its material misstatements. Faithful representation is one of the qualitative characteristic of presenting accounting information that is not possible to achieve by accounting standards. The reason is attributable to the fact that it is not always on part of accountant to truly and faithfully present the relevant information (May, 2013). There is always the possibility of some omission or misrepresentation by the accountants and thereby reporting organization. It might be due to meet requirements of business and due to prevailing condition that might compel them to omit relevant information. Accounting information provided to users is not always relevant and there is chance they are not reliable for the purpose of economic decisions making. This involves presentation of accounting transactions that are free from material misstatement and there allows exist possibility of omitting various transactions that are involved in preparing financial statements. Normative alternatives to historical cost There are different perspectives theories of accounting that were advanced by people based on the fact where historical cost accounting has too many shortcomings in terms of rising prices. To that, historical cost accounting explains the fact where it assumes that money holds a constant purchasing power. It is argued by economists that implicit and troublesome assumptions are mentioned in the historical cost model where the monetary unit is fixed as well as constant over the period of time (Macve, 2015). There are three main components of the modern economy where assumptions are made and it is less valid than it was at the time the model was actually developed. The first component is the detailed price level changes where there is advancement of technology as well as shift in consumer preferences. The second component is general price level changes in case of inflation The third component is the fluctuation especially in case of exchange rates for currencies. As far as book value of any company is considered, the financial reports are presented in the financial statements that designate current value of assets. Nowadays, the method of accounting used is based mainly on historical cost accounting where the model continues to be applied by the business entities in the most appropriate way (Lukka Modell, 2017). In addition, the weakness of historical cost accounting needs to be explained in the present study especially in times of rising prices. Weakness of Historical cost accounting It is important to consider the fact that historical cost accounting information suffers from issues that pertains to relevance in times of rising prices. The issue illustrated need to be logical and add value with the assets at given time period (Kroeger Weber, 2014). It is argued that methods of accounting used actually do not consider changing prices. In addition, historical cost accounting mainly tend to overstate profits especially in case of rising prices as well as distribution of profits that significantly lead to a case of operating capacity purchasing power that remain intact for given period of time. Other weakness of historical cost accounting is getting access to operating results. It is because historical cost accounting distorts the present operating year results by taking into account income holding gains that prevails in accordance to the previous time frame. There are two versions present for assessing the capital maintenance that is based on maintaining financial capital intact as well as maintaining purchasing power intact. Criteria for success It is argued that historical cost accounting information in actual suffers from problems of irrelevance at the time of rising prices. No consideration of price level changes- One of the limitation of historical cost accounting is the accounting method failed to consider price level changes. Under historical cost accounting methods, financial statements are prepared by taking historical facts. Here, changes in the value of money lead to changes in general level of price as it is not taken into account. Therefore, the accounting method fails to represent true and fair value of the state of affairs for any business enterprise. Unrealistic fixed asset values- One of the weakness of historical cost accounting is unrealistic fixed asset values. As far as historical cost accounting is concerned, fixed assets are recorded as well as presented at the price for given period of time. It is all about changes brought in the market valuation where asset figures are ignored. Insufficient provision for depreciation- One of the weaknesses of historical cost accounting is insufficient provision for depreciation. Here, depreciation is one of the mechanisms where funds are generated for replacing the fixed assets as and when replacement becomes due. As far as historical cost accounting is concerned, depreciation is charged based on historical fixed assets but not on the price at which the same assets are acquired for specific period. In that case, the provision are made for making the change in depreciation on the original cost that will not be sufficient especially in case of replacement of assets (Kolb, 2014). Unrealistic profit- One of the weaknesses of historical cost accounting is unrealistic profit. Here, income statement is prepared by using historical cost accounting figures that fails to reveal true profit. To that, revenues are recorded on current values. On the other hand, expenses are recorded at historical cost. Therefore, profits are generally overstated at the time of inflation periods (Atkinson et al., 2014). Key building blocks of conceptual frameworks Basic key building block of conceptual framework is concepts. Conceptual framework is regarded as structure that helps in creating link between representations of global concepts and depicts representation of completely larger reality and all aspects of enquiry are connected using such framework. A phenomenon is labeled or named using the concept and some facts that are observable that can be used to perceive through what is explained. Some of the occurrences in world relating to accounting are used for communicating with each other around globally. Concepts and references have a direct links and it depicts many instances (Kleme, Varbanov Kravanja, 2013). Concepts of conceptual framework on users interests that each of financial statements users is considered about issues influencing financial decisions The building blocks of conceptual framework in accounting are assets and liabilities. It deals with measurement of liabilities and assets and recognition of transactions in financial statements. Another concept that forms building blocks of conceptual framework is going concept. This factor is considered essential because historical cost of assets and its history is considered to be used in presentation in balance sheet (King Case, 2016). Such concepts influence the presentation of accounting information in balance sheet and thereby influence decision of investors. Another concept that forms building block of conceptual framework is accrual concept that deals with measurement and recording rule based on principle that recognition of revenue is done when they are incurred or earned. It also deals with measuring aggregate amount of any costs. It also deals with presentation and measuring of aggregated items. The material items presented in accounting information depicts various types o f accounting transactions. Organizations are required to comply with accounting standards by carrying out review of each material items presented. Advantages for accounting that result from the development of conceptual framework The conceptual framework is one of the framework that help in providing basic reporting objectives as well as foundation accounting and financial statement concepts for measuring the accounting information. The framework is used by companies for recognizing the financial events as well as reporting it in the accounting system in an effective way (Gomez, Belloso Alvarez, 2017). The conceptual framework help companies for generating useful accounting information at the time of undertaking investment as well as credit decisions and understanding the economic resources of business enterprise. The conceptual framework help in assuming facts at a reasonable level of the level of competence that should be understood by the financial users in getting access to related accounting information. Standards and rules- One of the advantages of conceptual framework is setting as well as issuing of accounting standards as well as rules that need to be built on an established body of aspects and elements. In addition, rule setting bodies need to issue new standards that should be detrimental by using common accounting language among the elements. Comparability and consistency- One of the benefits of conceptual framework is providing comparability as well as consistency of financial statements. Companies use this conceptual framework for efficient as well as better communication in the process of financial reporting. Therefore, the framework help business enterprise for resolving emerging practical accounting issues by referencing basic principles. Understanding and confidence- One of the benefits of conceptual framework is understanding and confidence (Edwards, 2013). In addition, the conceptual framework in accounting help companies to get access to set of universal accounting as well as rules. It is the responsibility of the investors and creditors for undertaking decisions based o face value of the financial facts. Therefore, users of financial statement easily can interpret any of the changes in accounting standards as well as rules that need to be adopted by companies that help at the time of financial statement analysis. Criticism of conceptual framework There are various limitations of conceptual framework that are listed below with proper justification: Setting up conceptual framework by any company is very expensive and time consuming at the same time. The companies that are present in the developing nations cannot afford to implement conceptual framework in their activities. On the contrary, the companies who are present in developed nations uses conceptual framework as they can afford the price (Gallhofer Haslam, 2017). At the time of implementing standard of accounting practices, conceptual framework give rise to rigidity of actions as it becomes difficult for bringing new ideas into action. There is often conflict that takes place between conceptual framework as well as accounting standards at the time of introducing conceptual framework. Conceptual framework mostly is not acceptable to most of the parties and benefits or interests some of the identified users (Gebhardt, Mora Wagenhofer, 2014). 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