Research Proposal on Forensic Accounting for Organizations

Question: Talk about theResearch Proposal on Forensic Accounting for Organizations. Answer: Criminological bookkeeping inside association segment stays to be the claim to fame practice region that manages bookkeeping that targets depicting commitment that consistently result from real or case, or debates foreseen during activities of various associations or people. Along these lines, scientific bookkeeping may not be the new thought or field in the segment that manages bookkeeping (Huber, 2015). In any case, it as gets indispensable in present occasions as it has been the enthusiasm of a few partners, from the financial specialists, specialists, just as experts to administrative associations. Criminological bookkeeping has been seen by numerous directors and bookkeepers to have the noteworthy effect on discovery of misrepresentation in different associations that work around commercial centers. Organizations have the developing interest for measurable bookkeeping to help their productive tasks. Examination Background The essential focal point of this analytical desk work is to feature gives that identify with scientific bookkeeping that for the all-encompassing period have gotten next to zero consideration in the bookkeeping segment. The examination target looking at criminological bookkeeping overview that has not been distributed in various bookkeeping diaries by finding perfect insightful methodologies that are generally utilized and distinguishing review strategies that have been being used (Journal of Forensic Accounting Research, 2016). In addition, a few examinations have created about criminological bookkeeping over the previous decades on different issues by using various methods of the study. In any case, the essential request stayed to be uncovered, for example, factors that manage the delineation of the reason for research in scientific bookkeeping (Huber, 2015). Hence, this examination plans to characterize social the setting where measurable bookkeeping is arranged obviously. For ex ample, in open areas, the augmentation in instances of fakes, laundering of cash, instances of defilement, untrustworthy acts alongside different bad behaviors stay to be the noteworthy components that help the necessities of abilities on criminological bookkeeping inside the open part working segment. The aptitudes remain to be the basic factor in tasks of bookkeepers in open area. Destinations of Research The chief objective of this examination is to explore effect of measurable bookkeeping on disclosure of extortion. Other exact points of this investigation contain; To research the way wherein scientific bookkeeping impact location of extortion among associations To look at if legal bookkeeping doesn't control exercises that identify with extortion in tasks of associations Exploration Question The examination is required to address a few inquiries. A portion of the basic things for this study incorporate; How much do measurable bookkeeping impact identification of misrepresentation? How much do legal bookkeeping check instances of false movement in an association? What are the individual along with relational abilities important for the measurable bookkeepers in tasks of associations? Basic exploration issue The diverse specialist has expressed that measurable bookkeeping stayed to be unmistakable as a thought of containing specific type of talented ability having traits that are indistinguishable and are unbiased and modernized. Additionally, legal bookkeeping have the particular social acknowledgment, and perception that remaining parts to be imperative to change of various monetary worries to run of the mill show of conviction (Journal of Forensic Accounting Research, 2016). Scientific bookkeeping is liable for the arrangement of intercession that exists inside political along with financial rationale. It shapes the scene that the social arrangements of legitimate alongside cases of economies are practiced. The previous decades have seen numerous organizations experience instances of a torrent or snowstorm in the quantity of outrages among their representatives, deceitful case, and disappointments in achieving set destinations (Huber, 2015). These occasions added to the event of Great Recession that fundamentally influenced the proficient tasks of free commercial center private enterprise. A portion of these unfavorable impacts in t tasks were facilitaeted by bookkeepers in various organizations.The cases that emerge as a result of inappropriate criminological bookkeeping to add to the conceivable answer for the economy risks and it have invigorated improvement in specification for scientific accountanting. Watchwords for Literature Review As indicated by Journal of Forensic Accounting Research (2016), legal bookkeeping stays to be a spot in the current economy. From the previous scarcely any decades, legal bookkeeping has had the option to demonstrate its value in improving activities of associations. Be that as it may, in many spots, there have been no conventional methods set up until the beginning of the 1980s when significant scholarly studies in the documented came to distribution. In this manner, criminological bookkeeping has remained to be the subject matter of the vocation of bookkeeping that depict activities coming about because of genuine or likely instances of conflicts or legitimate activities. The vast majority perceive legal bookkeeping to be the particular structure, of ability by experts and it is blessed specific with tributes. Acknowledgment of criminological bookkeeping starts from having the conventional confirmation that gives representative comprehension. Measurable bookkeeping Conti use as the science that manages the use of various realities and ideas of bookkeeping assembled through strategies for examining, methods alongside techniques to determine lawful issues that need successful combination of analytical, evaluating, and aptitudes of bookkeeping. Huber (2015) shows that measurable bookkeeping alludes to the science that manages the assortment just as the introduction of realities in the caring that remaining parts standard by the law court close by financial offenses culprits. In this way, measurable bookkeeping keeps on framing a follower that include its model and strategies utilized explore techniques that search for affirmation, verification, alongside warning point of view to create lawful proof. Information Collection Plan The goal of the exploration is to look at how legal bookkeeping influences misrepresentation discoveries. Information assortment plan will include the way toward settling on the choice on the right number of tests to be relevant in the investigation and sorting out the perfect technique for gathering information, Therefore, graphic examination in nature it will be by focusing on building up the connection between measurable bookkeeping alongside extortion location. Illustrative arrangement of information assortment will help in comprehending questions that worry the current status of the items under audit. Assortment of information will utilize overview procedures that incorporate immediate or roundabout contact made with subjects of examination by utilization of all around planned gadgets, for example, poll, centered gatherings conversations, and organized meetings. Subjective examination assumes an essential job in this examination. The arrangement of subjective techniques for inve stigation will encourage the assessors to break down the conduct and evaluate of respondents (Journal of Forensic Accounting Research, 2016). The strategy utilized contains the exploration plan utilized, testing abilities, an assortment of information, the size of inspecting, utilized instruments for analyzing methodology, quality control, assessment of information gathered, and moral issues during the review Moral Consideration Morals in this examination stays to be the various arrangements of guidelines that will be composed and some unwritten to oversee the desires for individuals and respondents conduct during the review. It stays to be the indispensable piece of the examination as it shows do and donts in the investigation. There should regard the assessments of various respondents, and the respondents must not get any coercion to hurt during the examination in any way (Huber, 2015). The questioner must achieve full assent of the member before overseeing polls to them to fill. There will be the assurance of character and protection of examination, and this will be guaranteed to each member that desires to take an interest in the investigation. The investigation will give that information acquired stayed sure for the planned reason. References Huber, W. (2015). Publication Vol. 28 Special Issue in Forensic Accounting. Bookkeeping Research Journal, 28(1). https://dx.doi.org/10.1108/arj-05-2015-0068 Diary of Forensic Accounting Research. (2016). Diary Of Forensic Accounting Research, 1(1), E1-E2. https://dx.doi.org/10.2308/jfar-10514

Reflective Journal 3000 words Essay Example | Topics and Well Written Essays - 2750 words

Intelligent Journal 3000 words - Essay Example This paper gives my own impression of the HRM idea as far as capacity to fill in as a powerful gathering just as the exercises gained from the course and in intelligent gathering based activities. These involve an investigation of six parts of HRM including the HR work, worker commitment, advancement of capacities and aptitudes, grasping assorted variety, reward the executives, and preparing and improvement. Lately, different measurements show up with the changing substance of the HR work. A portion of these viewpoints point to a shared association with others, which just emerges in associations that are increasingly mind boggling (businesscasestudies.co.uk. 2014, np). In this view, associations center around expanding the qualities gave by the HR work in light of client needs. For intelligent gathering meetings that I have held with other school individuals, the requirement for expanded genius liveliness by every individual has been of incredible noteworthiness. With improved interest, the nature of gatherings turns out to be clear with improved evaluations for this unit. Of incredible hugeness is the need to accomplish a vital and business-arranged bearing in accordance with the HR work (Reilly, Strebler and Tamkin 2006, p. 2). Through forming clear bits of knowledge into singular jobs, our gathering meetings have included restricted time. In any case, the reaction from singular indivi duals has been overpowering. In this manner, the requirement for upgraded HR work stands to be a significant angle for learning establishments. Certain impediments happen as associations center around improving the HR work. Right off the bat, the commitment of a lot of time on authoritative procedures, with constrained time for change forms emerges to be a key prevention to improvement of the HR work (businesscasestudies.co.uk. 2014, np). This prompts enormous and complex associations to plan such methodologies planned for solidifying the assortment of business forms (Reilly, Strebler and Tamkin 2006, p. 3). I have discovered that change is an

Free Flu Shots

Free Flu Shots Influenza A, subtype H1N1 is the most famous swine flu virus. It is endemic to birds, humans, and pigs. The 2009 strain was officially a pandemic from June 2009 to August 2010; the CDC estimates that between 43 and 89 million people were affected, between 195,000 ad 403,000 people were hospitalized, and between 8,870 and 18,300 people died due to H1N1. Influenza A, subtype H3N2 is another swine flu virus. Like H1N1, it is endemic to birds, humans, and pigs, but it has been more widespread than H1N1 for the past ten years. The influenza B virus is less common than influenza A. It affects humans, seals, and ferrets. They all look something like this: This semester I will catch none of these lovely bugs, because I got vaccinated! For free! Every year, MIT administers the seasonal flu shots for free to students, employees, and dependents. Last month’s clinic vaccinated almost 3,000 people in six hours. The process is remarkably efficient. When I showed up at the student center this afternoon there was no line. A nice man gave me a form to fill out and pointed me to a nice lady. The nice lady said hello, commented on my rollerblades, stuck a needle in my arm, pulled the needle out of my arm, and gave me a Band-Aid. The whole process took less than three minutes. Being sick at MIT sucks. About two weeks ago I stayed up until 3 AM baking a cake in the image of Sputnik and talking with friends about math and economics and then woke up with a fever and a cough. The former lasted a few days and the latter turned into something like asthma that’s still not gone. Worse, around this time last year I missed two weeks of class because of a double ear infection (â€"like a double rainbow! with ear infections instead of rainbows! So intense.). MIT Medical, sleep, Ramen noodles, and S^3 are wonderful resources, but it’s still hard to recoup after weeks of missed class. â€"which is why free flu shots and the subsequent decline in fevers and missed classes are awesome. I’m thrilled to say that this year I will not be getting pig flu, or bird flu, or people flu. (At least, not the flavors in the vaccination cocktail.) Not to scale. Common symptoms of the flu include fever, cough, stuffy nose, fatigue, and headaches. Complications include pneumonia, infections of the heart and nervous system, ear and sinus infections, and worsening of preexisting asthma, diabetes, and heart failure. More than 200,000 people in the United States are hospitalized every year due to flu complications. About 36,000 people a year in the United States and 250-500,000 people worldwide die each year from the flu and flu complications. Members of the MIT community can get a free flu shot by appointment with MIT Medical. There will also be another free walk-in clinic on November 14th at MIT Medical for children and families of the MIT community. If you are not at MIT you can get a flu shot at Kmart for $20.50, Target for $24.99, CVS for $29.99 minus a $5 gift card, Walmart for $25.00, Rite-Aid for $27.99, or Walgreens for $31.99. All locations administer the same cocktail of H1N1, H3N2, and Influenza B vaccine.

Why the Sioux Oppose the Dakota Access Pipeline

As the Flint, Michigan, water crisis made national headlines in 2016, members of the Standing Rock Sioux  successfully  protested to protect their water and land from the Dakota Access Pipeline. After months on end of demonstrating,  the water protectors rejoiced when the U.S. Army Corps of Engineers decided on Dec. 4, 2016, to  prohibit the pipeline from crossing  Lake Oahe, effectively bringing the project to a halt. But the pipelines future is unclear after Obama leaves office, and the Trump administration enters the White House. Building of the pipeline could very well resume when the new administration takes over.   If finished, the $3.8 billion project would span 1,200 miles across four states to link the Bakken oil fields in North Dakota to an Illinois river port. This would allow 470,000 barrels of crude oil daily to be transported along the route. But the Standing Rock wanted construction on the pipeline stopped because they said it could devastate their natural resources. Initially, the pipeline would have crossed the Missouri River near the state capital, but the route was changed so that it would pass under the Missouri River at Lake Oahe, a half-mile upstream from the Standing Rock reservation. The pipeline was redirected from Bismarck because of fears that an oil spill would endanger the city’s drinking water. Moving the pipeline from the state capital to an Indian reservation is environmental racism in a nutshell, as this form of discrimination is characterized by the disproportionate placement of environmental hazards in communities of color. If the pipeline was too risky to be placed near the state capital, why wasn’t it deemed a risk near Standing Rock land? With this in mind, the tribe’s effort to stop  construction of the Dakota Access Pipeline isn’t simply an environmental issue but a protest against racial injustice as well. Clashes between the pipeline’s protesters and its developers have also sparked racial  tensions, but the Standing Rock have won support from a broad cross-section of the public, including public figures and celebrities.   Why the Sioux Are Against the Pipeline On Sept. 2, 2015, the Sioux drafted a resolution explaining their opposition to the pipeline. It read in part: â€Å"The Standing Rock Sioux Tribe relies on the waters of the life-giving Missouri River for our continued existence, and the Dakota Access Pipeline poses a serious risk to Mni Sose and to the very survival of our Tribe; and ...the horizontal direction drilling in the construction of the pipeline would destroy valuable cultural resources of the Standing Rock Sioux Tribe.† The resolution also argued that the Dakota Access Pipeline violates Article 2 of the 1868 Fort Laramie Treaty which granted the tribe the â€Å"undisturbed use and occupation† of its homeland. The Sioux filed a federal lawsuit against the U.S. Army Corps of Engineers in July 2016 to stop construction of the pipeline, which began the following month. In addition to concerns about the effects a spill would have on the Sioux’s natural resources, the tribe pointed out that the pipeline would course through sacred ground protected by federal law. U.S. District Judge James E. Boasberg had a different take. He ruled on Sept. 9, 2016, that the Army Corps had â€Å"likely complied† with its duty to consult the Sioux and that the tribe â€Å"has not shown it will suffer injury that would be prevented by any injunction the court could issue.† Although the judge denied the tribe’s request for an injunction to stop the pipeline, the departments of the Army, Justice and Interior announced after the ruling that they would suspend building of the pipeline on land of cultural importance to the tribe pending further evaluation. Still, the Standing Rock Sioux said they would appeal the judge’s decision because they believe they were not sufficiently consulted when the pipeline was rerouted.    My nations history is at risk because the pipeline builders and the Army Corps failed to consult the tribe when planning the pipeline, and routed it through areas of cultural and historical significance, which will be destroyed,† stated Standing Rock Sioux Chairman David Archambault II in a court filing. Judge Boasberg’s ruling led the tribe to ask for an emergency injunction to stop building of the pipeline. This led the U.S. Court of Appeals for the District of Columbia Circuit  to state in a Sept. 16 ruling that it needed more time to consider the tribes request, which meant that all construction 20 miles in either direction of Lake Oahe had to stop. The federal government had already called for construction along that part of the route to be halted, but Dallas-based pipeline developer Energy Transfer Partners didn’t immediately respond to the Obama administration. In September 2016, the company said the pipeline was 60 percent complete and maintained it would not harm the  local water supply. But if that were absolutely certain, then why wasn’t the Bismarck location an appropriate site for the pipeline? As recently as October 2015, a North Dakota oil well blew out and leaked more than 67,000 gallons of crude, putting a tributary of the Missouri River at risk. Even if oil spills are rare and new technology works to prevent them, they cannot be completely ruled out. By rerouting the Dakota Access Pipeline, the federal government appears to have put the Standing Rock Sioux directly in harm’s way in the unlikely event of an oil spill. Controversy Over Protests The Dakota Access Pipeline hasn’t attracted media attention simply because of the natural resources at stake but also because of clashes between protesters and the oil company in charge of building it. In Spring 2016, only a small group of demonstrators  had set up camp on the reservation to protest the pipeline. But in the summer months, Sacred Stone Camp ballooned to thousands of activists, with some calling it â€Å"the largest gathering of Native Americans in a century,† the Associated Press reported. In early September, tensions heightened as protesters and journalists were arrested, and activists accused the security firm tasked with protecting the pipeline of pepper-spraying them and letting dogs viciously attack them. This called to mind similar images of attacks on civil rights protesters during the 1960s.    In light of the violent clashes between protesters and security guards, the Standing Rock Sioux were granted a permit to allow the water protectors to legally rally on the federal lands that surround the pipeline. The permit means the tribe is responsible for the cost of any damages, keeping demonstrators safe, liability insurance and more. Despite this shift, clashes between activists and officers continued in November 2016, with police reportedly firing tear gas and water canons at protesters. One activist came dangerously close to losing her arm as a result of an explosion that occurred during the confrontation. Protesters say she was injured by a grenade thrown by police, while police say she was hurt by a small propane tank that protesters rigged to explode, according to CBS News. Prominent Standing Rock Supporters A number of celebrities have publicly expressed their support for the Standing Rock Sioux’s protest against the Dakota Access Pipeline. Jane Fonda and Shailene Woodley helped serve Thanksgiving 2016 dinner to the demonstrators.  Green Party presidential candidate Jill Stein visited the site and faced arrest for allegedly spray-painting construction equipment during a protest. A former 2016  presidential candidate also stands in solidarity with the Standing Rock, leading a rally against the pipeline. U.S. Sen. Bernie Sanders (I-Vermont) said on Twitter, â€Å"Stop the Dakota Access pipeline. Respect Native American rights. And let us move forward to transform our energy system.† Veteran rocker Neil Young even released a new song called â€Å"Indian Givers† in honor of the Standing Rock protest. The song’s title is a play on the racial insult. The lyrics state: There’s a battle raging on the sacred landOur brothers and sisters have to take a standAgainst us now for what we all been doingOn the sacred land there’s a battle brewingI wish somebody would share the newsNow it’s been about 500 yearsWe keep taking what we gave awayJust like what we call Indian giversIt makes you sick and gives you shivers Young also released a video for the song that features footage of the pipeline protests. The musician has recorded songs about similar environmental controversies, such as his 2014 protest song â€Å"Who’s Gonna Stand Up?† in protest of the Keystone XL pipeline. Leonardo DiCaprio announced that he shared the Sioux’s concerns as well. â€Å"Standing w/ the Great Sioux Nation to protect their water lands,† he said on Twitter, linking to a Change.org petition against the pipeline. â€Å"Justice League† actors Jason Momoa, Ezra Miller and Ray Fisher  took to social media to announce their objections to the pipeline. Momoa shared a photo of himself on Instagram with a sign that said, â€Å"Oil pipelines are a bad idea,† along with hashtags related to the Dakota Access Pipeline protest. Wrapping Up While the Dakota Access Pipeline protest has largely been framed as an environmental issue, it is also a racial justice issue. Even the judge who denied the Standing Rock Sioux’s temporary injunction to stop the pipeline, acknowledged that â€Å"the United States’ relationship with the Indian tribes has been contentious and tragic.† Since the Americas were colonized, Native Americans and other marginalized groups have fought for equal access to natural resources. Factory farms, power plants, freeways and other sources of pollution are all too often erected in communities of color. The richer and whiter a community is, the more likely its residents have clean air and water. So, the Standing Rock’s struggle to protect their land and water from the Dakota Access Pipeline is just as much an anti-discrimination issue as it is an environmental one.

Dr. I.L. Kandel’S Article Entitled “Education In Nazi...

Dr. I.L. Kandel’s article entitled â€Å"Education in Nazi Germany† highlights Nazi policy regarding the reeducation of the citizenry with the goal of showing that totalitarian states utilize education as a method of subordinating all individuals comprising the nation. During his analysis, Kandel makes the claim the Nazi Party’s policies regarding education were influenced by the idea of Gleichschaltung – coordination; all policies aimed to construct a uniform citizenry answer to the whim of its single governmental entity. In constructing his argument, Kandel references four major types of educational reform – both informal and formal – that allowed the Nazi Party to consolidate power and gain total control over the beliefs, attitudes, and†¦show more content†¦Doing this satisfied the Nazi goal of creating a Volksgemeinschaft – a racially unified nation whereby the citizens were subject to the will of the state. Regarding the implementation of concentration camps, Kandel writes: â€Å"The first phase of each revolution was marked by terrorism, violence, and murder, with concentration camps or penal colonies for any opposition that might survive or emerge. In a sense, this was a form of education of a negative kind.† Political opponents of the Nazi Party were persecuted and placed in concentration camps as these individuals hindered the ability of the government to create a nation that would follow the Nazi ideology. Goebbels states: â€Å"‘anyone may grumble or criticize the government who is not afraid to go to a concentration camp.’† Concentration camps were used as a form of informal education reconstructing the German citizenry’s beliefs of right action and wrong action; wrong action led to detention within concentration camps. With the help of the Gestapo, the Nazis eliminated tens of thousands of political enemies. Concentration or penal camps allo wed the Nazis to reconstruct the beliefs of the German people to fit the party’s ideals which

A Medium of Exchange and a Unit of Account Versus Money Free Essays

These Short Essays are partial fulfillment of Paper IE1001 of Part 1 of Certified Islamic Finance Professional (CIFP) [DRAFT V0. 5] INCEIF Student Name: Mustafa Aydemir Student ID: 1200279 IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. We will write a custom essay sample on A Medium of Exchange and a Unit of Account Versus Money or any similar topic only for you Order Now doc -1- Bismillahirrahmanirrahim Essay No. (3) Money and Islam – A Medium of Exchange and a Unit of Account versus Money as a Commodity Everybody is using money. Most of us want it; we work for it and think how to get more of it. Therefore, it is vital to ask what money is, where it comes from, and what money is worth. Economics is an academic discipline that tries to answer those questions. It would be to long and lengthy to discuss about money creation and growth from A-Z but in the following paragraphs the subject matter is elaborated from the conventional as well as the Islamic worldviews. Money in the conventional sense is a commodity people use in exchange for goods and services. Before money was used as a medium of exchange, barter trade was practiced whereby people trade goods and services in exchange for other goods and services. However, barter trade was considered not so practical as weighing, transporting and dividing goods was difficult. It was the lack of transferability and inefficiencies that created the need for better ways of exchange. The concept of money was born. There are different types of money that developed over time, which should be presented briefly. Commodity money is defined as valuable goods, which were used as an underlying for a currency, such as gold, silver, coffee or even tobacco. The biggest advantage of this kind of currency was its portability and easy storage. Another example of commodity money is the U. S. currency before 1971, which was backed by gold (Investopia). Fiat money is the paper money currently circulating in our world that is not convertible in any other type of money. It is used in our daily life where we buy and sell goods and services. Fiat money is basically not backed by any commodity but by a government that guarantees its value and creates a perception and faith in people that it is worth it. It is simply needed because gold is IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. . doc -2- rare on this planet. The perception created is, that the stronger the economy, the stronger is the value of its money. It is important to understand, that money is valuable because we want it, but we want it only because it can get us a desired product or service. Money is generated by a kind of an uninterrupted collaboration between physical things, our elusive desire for them, and our theoretical trust in what has value. That is why printing fresh money will not enrich a nation. Another type of money is named credit money. Investopia defines credit money as â€Å"Any future monetary claim against an individual that can be used to buy goods and services†. There are many forms of credit money, such as IOUs, bonds and money market accounts. Virtually any form of financial instrument that cannot be repaid immediately is considered credit money. Economists measure money in M1, M2 and M3 defined as follows. M1 money includes all coins and currency that is physically available, travellers checks, demand deposits, checking accounts that is used to make payments. M2 money is all the money in M1 plus saving accounts, timelinked deposits and non-institutional money-market funds. M3 money is all the money in M2 plus all large time-deposits, liquid assets, institutional money-market funds, and short-term repurchase agreements. M1+M2+M3 together is the total supply of money in an economy, the â€Å"broad money† Money fulfills the three main functions. It is used as a medium of exchange. Furthermore, money is a unit of account that is a numerical unit of measurement for transactions, goods and services. IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -3- Lastly, money is used to store value that can be retrieved and used again. In Islam money is not a commodity, which makes all the difference. It is not considered as a commodity that should be used for a price, but rather as a medium of exchange in business transactions Money as a commodity concept is prohibited, because it contradicts Islamic principles that does not recognize money as a tool to make profit. Money is only a medium of exchange, a way of defining the value of a thing; it has no value in itself, and therefore should not be allowed to give rise to more money, via fixed interest payments, simply by being put in a bank or lent to someone else. † (INCEIF Lecture Notes p. 81). Money used as a commodity would presumably divide the society into the poor and the rich, even countries into categories rich and poor economies neglecting their national debt levels. People or nations in need for cash, deficit units, borrow money from people or nations with additional cash, surplus units. They are required to pay a fixed interest payment for their loans. This is riba and is clearly illegal according to Shariah law because it enriches surplus units without any contribution to the real economy. Consequently, people in need for money would take a high risk of becoming even poorer. Compound interest is the big problem that creates money out of thin air. Moreover, the so-called fractional banking system that creates 100. 000 USD out of a 10. 000 USD deposit, 90. 000 USD can be considered fictional money. 1 Title: Concept of Money from Islamic Perspective; Class: Islamic Economics [IE1001]; Prof: Dr. Magda Ismail Abdel Mohsin; Institution: INCEIF; Date: 8/16/2006 # Of Pages: 44 IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -4- The rich is getting richer relatively faster than involvement into the real economy, because money creates more money without work required and Many countries fall into the trap of borrowing money from the International Monetary Funds, in particular Muslim states. The weaknesses of money as a commodity, hit those countries with all its evil as borrowed money doubles, multiplies and compounds. Consequently future generations are affected. The current generation is living in exaggerated prosperity on the cost of many future generations. Money is Islam should not be hoarded and kept in the bank savings account. Instead, money is required to circulate within the economy freely to benefit frequently, continuously, proactively and directly the society at large. This leads to the basic principle of interest prohibition and replaces this Riba system with that of Al-Bay. A system that is very different from Riba. The principle paradigm is risk sharing to allow borrowers and lenders to share rewards. The process of wealth accumulation and distribution in the economy is fair and just and fits the spending (infaq) criteria of Al-Bay suggested by the following verses. â€Å"Those who eat Riba (usury) will not stand on the Day of Resurrection except like the standing of a person beaten by Satan leading him to insanity. That is because they say: â€Å"Al-Bay is only like Riba,† whereas Allah has permitted Al-Bay’ and forbidden Riba. So whosoever receives an admonition from his Lord and stops eating Riba shall not be punished for the past; his case is for Allah (to judge); but whoever returns [to Riba], such are the dwellers of the Fire – they will abide therein. † (2-275) The verse (2-261) states the incentive of spending in the way of Allah swt by counting the great reward and the blessing that an individual get from one single transaction: Then the following verse (2-262) puts the conditions for infaq to be accepted, and that is for Infaq not to be followed IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -5- by Riya (show-off) or by harming anyone or harming the society as a whole. Even if the spending is based on charitable purposes mentioned in verse (2-263), no reminding of it and no harm should be resulted from spending process. Indeed, a kind speech and asking for forgiveness would have better impact. So infaq has to be fully for the sake of Allah swt. (2-264). The consequences of Infaq being not for the sake of Allah are serious as there would be neither Baraka nor growth. Verse (2-265) shapes the objective of spending and is to be for the sake of Allah and his reward so the profile of gain and loss in Infaq is different from the ordinary thinking. In conclusion, the definition of money and the way wealth is accumulated and spend draw a fine line in the distinction of both the conventional versus the Islamic economic system. As money is a medium of exchange, savings does not yield interest income but instead require business transactions. Al-Bay as the system of exchange that is based on the concept of spending (Infaq) and risk sharing for any single transaction between parties of exchange. It is notable that Tijarah and Bay are of two different meanings. Tijarah is for the individuals that are setting up the business that has the aspect of long term. It becomes clear that lots of efforts have to be spending in education, elucidation and clarification of the consequences by a simple definition of money. 2 2 This meaning can be clarified by looking verse: (2-282) â€Å"And do not be too weary to write it, whether it is small or arge, for its specified term. That is more just in the sight of Allah and stronger as evidence and more likely to prevent doubt between you, except when it is a Tijarah which you conduct among yourselves. †So we can understand from this verse that Tijarah is among some people that the conduct it among themselves. (61-10) â€Å"O you who have believed, shall I guide you to a Tijarah that will save you from a painful punishment? † So, we can sense the longterm involvement in this transaction as Allah swt stated that for in the following 3 verses 11,12 13. 1 â€Å"It is that you believe in Allah and His Messenger and strive in the cause of Allah with your wealth and your lives. That is best for you, if you should know. †12 â€Å"He will forgive for you your sins and admit you to gardens beneath which rivers flow and pleasant dwellings in gardens of perpetual residence. That is the great attainment. † 13 â€Å"And you will obtain another favor that you love – victory from Allah and an imminent conquest; and give good tidings to the believers. † IE1001 Assignment in Islamic Economics – Short Essay No 3 by Mustafa Aydemir – DRAFT Version 0. 5. doc -6- How to cite A Medium of Exchange and a Unit of Account Versus Money, Essay examples

Misunderstood free essay sample

Everyone has his or her own struggles to deal with, which is why I don’t really like to talk about mine. However, the struggles I had did indeed help shape me as an individual. When I was younger, I was very quiet and reserved—exactly the opposite of how I am now. Due to this trait, I guess some people just saw me as an easy target. My mother grew up in Taiwan, and she immigrated to America to make something better out of her life. Because she was a native Mandarin Chinese speaker, that’s how she and I would communicate in the early years of my life, so I was effectively bilingual. I never saw this as a big deal until one of my six-year-old classmates came up to me and asked me why I was such a freak. He told me I was ugly and didn’t belong here with normal people, and that I should go back to the pig’s hole of a country where I came from. We will write a custom essay sample on Misunderstood or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Those are some pretty prejudiced things for a six year old to say to someone, especially since I’m only half ethnic. I was born in America, so how was I any less American? I wasn’t. I didn’t see it that way, though. I thought being half Chinese made me inferior to everyone else—that I was ugly, unimportant, and abnormal. I pretty much grew up with the mentality of being ugly, unimportant, and abnormal, all thanks to one individual. This â€Å"personal struggle† really taught me how much words mean. It doesn’t matter if your words seem unimportant—everything said by every single person is important, and they all have an impact on someone. Words are so powerful, and it’s so unfair to underestimate that.