An Analysis of Cross Cultural Differences Between India...

An Analysis of Cross Cultural Differences Between India and The United States of America in Terms of Business-Implications for Managers Submitted to Submitted by Dr. Richard Ajayi Pushyami.V Table of contents Executive summary 1. Introduction 2. Culture 3.1 Cross Cultural Analysis 3.2 Cultural distance 3. Different models of cross-cultural analysis 4. Hofstede dimensions to distinguish between cultures 5. Cross Cultural Analysis between India and The United States of America-Geert Hofstede’s Framework 6.3 Cross Cultural Analysis of India and The United States of America†¦show more content†¦2.Culture The origin of the word culture comes from the Latin verb colere = tend, guard, cultivate, till. This concept is a human construct rather than a product of nature. The use of the English word in the sense of cultivation through education is first recorded in 1510. The use of the word to mean the intellectual side of civilization is from 1805; that of collective customs and achievements of a people is from 1867. The term Culture shock was first used in 1940. Culture is a mixture including knowledge, belief, art, law, morality and conventions shared by nearly all the members of a specific society and separating one group member from another; other skills and habits; also common attitudes and responsibilities learned subsequently, such as original lifestyles, emotions, etc. It has played a crucial role in human evolution, allowing human beings to adapt the environment to their own purposes rather than depend solely on natural selection to achieve adaptive success. Every human society has its own particular culture, or socio-cultural system. 2.1 Cross Cultural Analysis The first cross-cultural analyzes done in the West, were by anthropologists like Edward Burnett Tylor and Lewis H Morgan in the 19th century. Anthropology and SocialShow MoreRelatedIntel Corporation : An American Multinational Technology Company958 Words   |  4 Pageswhich is headquartered in  Santa Clara, California, America. It is one of the  world s largest semiconductor  chip manufacturers, and ranked number 56 on the 2015 rankings of the world’s most valuable brands. Intel was founded in 1968 by  Robert Noyce  and  Gordon Moore. Intel got its name as a compound  of the words  integrated and  electronics. In the early years, main products of Intel were SRAM  and  DRAM  memory chips. That was the majority of its business before the year of 1981. During 1990s, Intel startedRead MoreGlobalization Of Business : Globalization1486 Words   |  6 PagesGlobalization in Business: Globalization refers to the changes in the world where we are moving away from self-contained countries and toward a more integrated world. 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Iran Contra Affair Free Essays

The Iran-Contra scandal had a big effect on the United States but it had a huge effect on Nicaragua. Through out 1985-86, the Reagan administration was selling weapons to Iran illegally in order to encourage Iran to free hostages in the Middle East. Meanwhile, the Reagan administration wanted to support the Contras in Nicaragua, a rebel group fighting to overthrow the Sandinista government. We will write a custom essay sample on Iran Contra Affair or any similar topic only for you Order Now The administration decided to use the money made from selling arms to Iran, and had it sent to the Contras without passing through the United States. Walsh, p2. ) In this paper, I am going to provide the background of the situation. I will explain how the money from the missile sales was used to support the Contras. I will also tell how everything became public, the end of United States support for the Contras and about then investigations and public hearings in the United States. But finally this paper is about the significance, or impact, of the Iran-Contra affair. The Sandinista National Liberation Front was founded in 1963. Named after Augusto Ceser Sandino, it was an extreme leftist organization â€Å"of Castroite and Maoist direction. † There were only about 150 members as of 1975, but sympathy was growing. (Times, 1/3/75) By August 1975, the SNLF had â€Å"begun to gain strength as discontent with the Somoza regime [had] spread through the middle classes. † (Times, 8/6/75) By August 1977 according to The New York Times, Amnesty International said that â€Å"there had been widespread abduction, torture and killing of peasants by the National Guard† during the previous year. 8/16/77) The strength of the SNLF continued to grow. In October 1977, the SNLF, for the first time, was â€Å"joined by non-Marxist opponents of the regime† including some conservatives. (Times, 10/20/77) By May 1978 opposition groups, including the SNLF, were proposing a coalition government that would exclude Somoza. (Times, 5/1/78) By November 1978, the Carter Administration was trying to push Somoza â€Å"into a compromise with his opponents. † (Times, 11/21/78) After 4 years of growing violence, including street fighting in the capitol, Somoza finally resigned. 9/17/79) After the Sandinistas took power in 1979, the remnants of Somoza’s National Guard scattered. As Kornbluh and Byrne describes The Iran Contra Scandal, they were reduced to small bands of some 250 men, hiding in Honduras and Guatemala, where they resorted to random violence and stealing to survive. The CIA brought these small groups together. After the Contras started receiving money from the CIA, the number of attacks on the Sandinistas increased a lot. Attacks during this period included, sabotage of highway bridges, sniper fire on small military patrols, the burning of customs warehouses and crops, and ‘the assassination of minor government officials’†( Kornbluh, p. 2; they are quoting from a document in the National Security Archives). On December 1, 1981, President Ronald Rea gan signed a finding allowing our government to help the Contras. Beginning in March 1982, the whole thing became public as articles in the Nation, the New York Times, the Washington Post and Newsweek reported on CIA aid to the Contras. Congress reacted to this by passing the Boland Amendment, which read: None of the funds in this Act may be used by the Central Intelligence Agency of or the Department of Defense to furnish military equipment, military training or advice, or other support for military activities, to any group or individual, not part of a country’s armed forces, for the purpose of overthrowing the government of Nicaragua or provoking a military exchange between Nicaragua and Honduras. (Kornbluh, p. ) In spite of this, the Reagan Administration continued to aid the Contras, all the time denying that they were doing so. Among the aid they sent was the Psychological Operations in Guerrilla Warfare training manual, referred to by those who knew about it as the â€Å"murder manual. † (Kornbluh, p. 2) The Reagan administration later on came up with a new strategy, to portray the Contras as freedom fighters and the Sandinistas as oppressors. In 1984, the CIA sowed mines in a major port in Nicar agua causing a severe amount of damage. The Contras took credit for this. But a few weeks later the press exposed the CIA involvement. In response, Congress passed a second Boland Amendment, which said that neither the CIA nor the Defense Department could fund the Contras, either directly or indirectly. From then on the administration worked through the National Security Council, and NSC staff member Oliver North. NSC William Clark established Office of Public Diplomacy for Latin America and the Caribbean (housed in State Department but reported to the NSC), Oliver North attended the meetings: responsible for all Contra affairs. Because the CIA was prohibited from operating inside the United States, Director William Casey had senior propaganda specialist Walter Raymond transferred to the NSC. As Raymond declared, his job was to â€Å"concentrate on gluing black hats on Sandinistas and white hats on Contras. † (Kornbluh, p. 5) All this time, CIA intelligence analysts were saying that the Contras couldn’t win, even with American support. Robert Owen, Oliver North’s personal intermediary with the Contras is quoted as saying they were simply â€Å"profiteers. 1 Meanwhile, during 1985-86, as mentioned earlier, the Reagan administration was selling weapons to Iran illegally in order to encourage Iran to free hostages in the Middle East. After the 1979 hostage situation at the United States Embassy in Tehran, Carter had imposed an embargo on selling weapons to Iran. When Reagan came to power in 1981, the Embassy hostages were freed, but Reagan continued the embargo policy. In 1983, the adminis tration strengthened it through operation STAUNCH, a worldwide voluntary arms embargo against Tehran. But for several reasons, some people in the administration supported softening the stance toward Iran. The idea that selling weapons would help win the release of hostages encouraged them to act. The way the United States diverted the funds is complex. Basically, the United States sold arms to Iran, hoping to get hostages freed, then used the money they got to arm and support the Contras. All of this was done secretly. On October 5th, 1986, an American plane was shot down by Sandinistas over southern Nicaragua. The two pilots were killed, but the â€Å"cargo kicker,† Eugene Hasenfus, parachuted out and was captured by Sandinista soldiers. He told the Sandinistas everything he know about United States involvement with the contras. The next day, the story was on the front page of every major United States newspaper. Then, on November 3rd, 1986, a Lebanese paper published a story that revealed the United States trading of arms for hostages. (historycommons. org, p. 1) Having these two pieces of the puzzle soon led to people discovering the connections between the arms-for-hostages deals and secret aid for the Contras. Once the Iran-Contra connection had become public, Reagan appointed John Tower, Edmund Muskie and Brent Scowcroft to a President’s Special Review Board charged with investigating the affair. People expected the Tower Commission to be a whitewash, but its report brought to light many of the details of what had happened. On November 26, 1986, Attorney General Edwin Meese ordered the FBI to begin an investigation of the Iran-Contra episode. December 19, 1986, Lawrence E. Walsh was named to the Office of Independent Counsel to take over that investigation. The Tower Commission, congressional investigations and the work of the Independent Counsel led to indictments of Oliver North and John Poindexter on March 16, 1988. North was convicted on charges of obstruction of justice, misleading Congress, and accepting an illegal gratuity, but an appeals court overturned the verdict because testimony to Congress given under immunity might have affected his trial. Poindexter was also convicted and his convictions overturned on appeal. (Kornbluh, p. xxviii) In 1992, George H. W. Bush pardoned six others who had been indicted or convicted of crimes in the affair. The Iran-Contra affair made the United States look untrustworthy internationally, as well as causing people to distrust their government. The United States government depends on a system of checks and balances among the congress, executive and judicial branches. If the executive branch does whatever it wants and hides its actions from the congress, then the people are no longer in charge of their government. This is a genuine threat to democracy. When Somoza resigned in 1979, the Sandinistas and others who had opposed Somoza formed a junta to govern until there were elections. The country was a mess. There was poverty, malnutrition, disease, pollution from pesticides, factory runoff and raw sewage into Lake Managua. The Sandinistas tried to address these problems and might have succeeded if the Contras had not undermined a lot of what they did. Money from Cuba and Eastern Europe was spent on building up an army to combat the Contras instead of being used for other important needs. The Sandinistas won an election in 1984 with 67% of the vote; most international observers deemed the elections fair. Exhaustion on both sides, fear of losing to the Contras, and mediation by other governments in the area led to the â€Å"Sapoa ceasefire† between the Sandinistas and the Contras on March 23, 1988. In the elections that followed in February 1991, the Sandinistas, who were expected to win, were soundly defeated. The new President was Violeta Chamorro, widow of a prize winning newspaper editor who had struggled against Somoza. When the Chamorro government took power, the situation of the country was even more desperate than in 1979. 2 All in all, the Contras and the United States support for them were disastrous for Nicaragua. Notes 1 This paragraph is based on information from Kornbluh. 2 This paragraph is based on information from Britanica. Works Cited Britinaca. com. http://www. britinica. com/EBchecked/topic/413855/Nicaragua . â€Å"Iran-Contra and Arms-for-Hostages Scandals: Eugene Hasenfus† http://www. historycommons. org/jsp? irancontraaffair_key_figures . Kornbluh, Peter, and Malcom Byrne. The Iran-Contra Scandal: The Declassified History. New York: The New Press, 1993. The New York Times, January 3, 1975-September 17, 1979. Walsh, Lawrence E. Independent Counsel Report. â€Å"Executive Summary,† p. 2. http://www. fas. org/irp/offdocs/walsh/execsum. htm . 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Global Accounting Standards Vision Reality -Myassignmenthelp.Com

Question: Discuss About The Global Accounting Standards Vision Reality? Answer: Introducation As per the financial statements report of Sai Global limited for the year 2015, impairment testing for several asset classes was carried out. Several intangible assets with goodwill are not amortized and they are further tested for annual impairment. In case frequency is more than once annually because of differences within situations or events it indicates that assets might are impaired and are mentioned within the annual report at less cost with accumulated impairment loss (Amel-Zadeh et al. 2016). Some different assets like the trade receivables along with property, plant and equipment with inventory are taken into impairment testing while there is an indication that the assets carrying amount might not be recoverable. Sai Global limited carries out a two-step process in impairment testing. The first step is to align by the fair value of reporting unit within its carrying value that includes the goodwill. In case the operating units carrying value is higher in contrast to the fair value, the second step associated with impairment testing must be conducted for ensuring the amount of impairment loss in case it takes place (Carlin, Finch and Manh Tran 2014). The second step explains the impaired fair value of reporting unit along with the carrying amount associated with the unit. In case the implied fair value is lesser in comparison to the carrying amount, certain charge of impairment is realized within the amount related to that excess. Such realized loss cannot be more than the assets carrying amount. The company experienced the below impairment expenditures for the end of the period on 30th June, 2015. Goodwill and Intangible Assets During such period, the company has explained a total impairment of $59841 ($77748 - $17907), out of which $841 was stated within the software, $ 9000 was mentioned for the consumer contracts and $ 50000 was mentioned for the IRU. Conversely, goodwill and brands are not accountable for the impairment (Benson et al. 2015). Intangible Assets and Goodwill Trade Receivables In the year 2015, the company represented an allowance for the impairment loss of $ 2563 in the year 2015 that was recorded to be $ 1748 in the year 2014. The company is associated in making estimates based on certain concerns for the future years. Such results of accounting anticipations through definition might be similar with associated real results (Bepari and Mollik 2015). For calculation of value-in-use certain estimations are considered such as: Discount rates Sales margin or EBITDA Growth rates using the extrapolate cash flows beyond the period of forecast As per the IAS 36 Impairment of Assets, it is gathered that it is a specific IFRS standard as it requires subjective interpretation that can be implemented with respect to the managerial requirements. In addition, it does not restrict the creative accounting. It is also recognized from the annual report of Sai Global limited that considerable subjectivity was associated at the time the management carried out the impairment test process (Kimbro and Xu 2016). It can also be evidenced that the allocation of goodwill to cash generating units along with recoverable amount computation while there is a lack of active prices regarding goodwill subject to the discretion. After critical analysis, it is gathered that the complex or confessing aspect of impairment is associated with the impairment indication. Even though such indications just focus on the internal as well as external signs concerning the assets impairment, the frequency of conducting such test for goodwill along with intangible assets just focus on the managements discretion (Bond, Govendir and Wells 2016). For this reason, there is a chance that the management might carry out test opportunistically in case there is a difference in value. It is elucidated that, impairment loss can be observed as certain variance within an assets recoverable amount along with an assets carrying amount. The recoverable asset is higher than the fair asset value subtracted from the value-in-use and disposal cost (Dye, Glover and Sunder 2014). Fair value is estimated by the asset within the active market or the sales agreement within which the asset trading is conducted or accessibility of important information in disclosing amount at which the company can sell its assets. In contrast, the value-in-use is deemed as present value related with future cash inflows that are anticipated to be gathered from cost of goods unit or asset as per IAS 36 (Khokan Bepari, Rahman and Taher Mollik 2014). In alignment with the IFRS 113 standard, ascertainment of fair value is conducted through below points: Sales agreement Asset value within active market within the asset trading is conducted Existence of quality information for revealing the amount at which the company might sell its assets For this reason, the fair value can be elucidated as selling price that is considered on the parts of both the seller and buyer through anticipating that the parties have conducted a free transaction. Numerous investments are deemed to have a fair value that is estimated on the behalf of the market within which trading of security is done (Gimbar, Hansen and Ozlanski 2016). In addition, fair value indicates the asset along with the liabilities value of a company while the annual report of the subsidiary company remains consolidated with a parent company. For example, of the shares of a company is trading within an exchange, the players within the market offers a bid through asking price of that share. In this condition, the investors might consider selling shares to the leader in the market at a bid price at the time of acquiring the shares from the market player within the ask price. Therefore it can be inferred that exchange can serve as the most trusted ascertaining technique rega rding shares fair value estimation (Jorissen et al. 2014). More than 50% of the companies employing IFRS or US GAAP are greatly impacted because of certain changes within accounting. As per the present status, the companies within IFRS or US GAAP have leased assets along with societies that amount to around $3.3 million, out of which more than 85% is not disclosed within the financial position statement as they are treated as part of operating leases (Mora and Walker 2015). For compensating the same, the investors are deemed to contain certain projections that are incomparable, inconsistent as well as inadequate. Therefore, it is evidenced that the previous standard of accounting failed in explaining the economic actuality. In consideration to previous accounting standards, a lot of companies are reported to be 85% of their leases that realizes the amount within the operating leases and it did not signify the ones mentioned within the companys financial position statement. Even if the operating leases are not recorded within the financial position statement there has been certain generation of actual liabilities (Pacter 2014). While at the time of financial crisis there are certain retail companies that turned out to be bankrupt as they failed to adjust the updated economic reality in a better manner. In addition, the company had considerable amount of commitments in accordance with long term operating leases and their financial position statement is observed to be lean drastically. The previous accounting system is accordance with the lease might result in lack of comparability. The industry in which the company operates accounts for a great amount of leases in the operating leases. Along with that the record is not prepared under the financial position statement of the company (Wen and Moehrle 2015). For this reason, as the company is involved in leasing all its products that is not identical to its competitors acquiring all its products. Conversely, the financial obligations of the two types of companies are not that identical. This also indicates that there is a lack of level playing field within the company. With emergence of a new standard, all such leases might be responsible for reforming the assets along with lessees that might record them in the liability form. For this reason, it is anticipated that such type of issue might get resolved. Certain changes within accounting standard are likely to have an impact on more than half of listed organizations and they are deemed to be famous in the companies. The major cause behind this is that such changes might result in controversies and might lead to warning impacts in consideration to negative economic situations and expenses associated with the variations within the system. In addition these alterations might have increased commercial impacts (Yao, Percy and Hu 2015). In consideration to new standard of accounting, it is gathered that most of the companies are treating operating leases as an aspect of off-balance sheet aspects. For this reason, the investors along with financial statement users do not attain an efficient insight of the companys financial situation (Sai Global limited. 2018). This restricts the company in contrasting leasing assets with the purchasing assets of the company. Moreover, this new standard is anticipated to update IFRS 16 and this is estimated that it might greatly outweigh the expenses that might result in highly informed decisions associated with investment. Ii can also be indicated that the lease against the decisions regarding purchases in a better manner on the behalf of the management. References: Amel-Zadeh, A., Faasse, J., Li, K. and Meeks, G., 2016. Stewardship and Value Relevance in Accounting for the Depletion of Purchased Goodwill. Benson, K., Clarkson, P.M., Smith, T. and Tutticci, I., 2015. A review of accounting research in the Asia Pacific region.Australian Journal of Management,40(1), pp.36-88. Bepari, M.K. and Mollik, A.T., 2015. Effect of audit quality and accounting and finance backgrounds of audit committee members on firms compliance with IFRS for goodwill impairment testing.Journal of Applied Accounting Research,16(2), pp.196-220. Bond, D., Govendir, B. and Wells, P., 2016. An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136.Accounting Finance,56(1), pp.259-288. Dye, R.A., Glover, J.C. and Sunder, S., 2014. Financial engineering and the arms race between accounting standard setters and preparers.Accounting Horizons,29(2), pp.265-295. Gimbar, C., Hansen, B. and Ozlanski, M.E., 2016. The effects of critical audit matter paragraphs and accounting standard precision on auditor liability.The Accounting Review,91(6), pp.1629-1646. Jorissen, A., Lybaert, N., Orens, R. and Van Der Tas, L., 2014. Constituents Participation in the IASC/IASBs due Process of International Accounting Standard Setting: A Longitudinal Analysis. InAccounting and Regulation(pp. 79-110). Springer New York. Jorissen, A., Lybaert, N., Orens, R. and Van Der Tas, L., 2014. Corporate participation in the due process of international accounting standard setting: An analysis of antecedents. Khokan Bepari, M., F. Rahman, S. and Taher Mollik, A., 2014. Firms' compliance with the disclosure requirements of IFRS for goodwill impairment testing: Effect of the global financial crisis and other firm characteristics.Journal of Accounting Organizational Answer:mbro, M.B. and Xu, D., 2016. The accounting treatment of goodwill, idiosyncratic risk, and market pricing.Journal of Accounting, Auditing Finance,31(3), pp.365-387. M Carlin, T., Finch, N. and Manh Tran, D., 2014. IFRS compliance in the year of the pig: Hong Kong impairment testing.Journal of Economics and Development,16(1), p.23. Mora, A. and Walker, M., 2015. The implications of research on accounting conservatism for accounting standard setting.Accounting and Business Research,45(5), pp.620-650. Pacter, P., 2014. Global accounting standards-from vision to reality.The CPA Journal,84(1), p.6. Sai Global limited., 2018.[online] Available at: https:// Sai Global limited.au/investor-centre/reports-presentations-and-resources/annual-reports/ [Accessed 9 Jan. 2018]. Wen, H.J. and Moehrle, S.R., 2015. Accounting for goodwill: A literature review and analysis. Yao, D.F.T., Percy, M. and Hu, F., 2015. Fair value accounting for non-current assets and audit fees: Evidence from Australian companies.Journal of Contemporary Accounting Economics,11(1), pp.31-45.