Thursday, May 21, 2020
Description of the Organization I studied a traditional, conservative Seventh-day Adventist church that has approximately 200 members. It is a Filipino-American church thatÃ¢â¬â¢s mission and vision is Ã¢â¬Å"to emphasize that every member develop a daily personal devotional liveÃ¢â¬ ¦to provide, through corporate worship, an uplifting, inspiring experienceÃ¢â¬ ¦to mentor and provide training for leadershipÃ¢â¬ ¦to enable all members to engage in active involvementÃ¢â¬ ¦to establish a communication network which will recruit students with a Filipino heritageÃ¢â¬ ¦and to reach out with the love of Jesus Christ to meet the needs of Filipinos and other people in the community.Ã¢â¬ This church grew from a desire by members to form a Filipino fellowship that provided a dynamicÃ¢â¬ ¦show more contentÃ¢â¬ ¦He has an incredibly close, personal touch, yet, at the same time is naturally more quiet and withdrawing. Analysis of Leadership Dynamics Pastor XÃ¢â¬â¢s leadership theory is clearly a bottom-up approach; he avoids wrangling the conversation unfairly to his perspective, instead, he identifies himself as a component of the process, not the process itself. This instills in the members a trust in him that is remarkably deep. He also tends to seek out members for services that they provide (i.e. medical) in order that he can relate to them on a personal while simultaneously on a spiritual level. As I pointed out above, he empowers his members by giving them opportunities and allowing them to experiment, with the promise that he will be there to provide support if problems explode. However, this model allows problems to be resolved quickly and quietly and not spiral rapidly out of control. He averts empowering the members in the way of resourcesÃ¢â¬âwhat I am alluding to is that he is willing to acquire resources when needed, yet avoids seeking them out himself. He feels that it is best for individual leaders of departments to determine these decisions. His relationship with the church is uncommonly positive, in spite of a few differences. For example, during one nominating committee it was determined by the Filipino delegation, which is the vast majority of the church, that the number Caucasians and African-Americans who held leadership positions was rife and
Wednesday, May 6, 2020
Abstract Historically ,it is seen that there are numerous number of disputes in the field of financial reporting among different professionals, regulators and theoretitions .most of these disputes are related to the valuation of financial reporting components.the current curve in the progress of valuation is the push for and against the fair value approach.the purpose of this research is to examine the arguments on the use of fair value accounting and to identify the issues related to implementation of fair value accounting standards. Further, the results of literature related to role of fair value accounting within financial crisis are also investigated. Part Ã¢â¬âa Financial world is at the pace when the accountants are moving their steps towards fair value accounting, moreover FASB and IASB is motivating accountants to increase the use of fair value accounting by establishing new rules. Most of the people concur that fair values are the most reliable measure for financial assets and liabilities that an entity strongly trades, on the other hand some believes if management wants to hold an asset or liability till their maturity then historical method is best for measuring financial assets. Arguments supporting fair value accounting According to the analysts fair value accounting of assets and liabilities is more relevant as the basic economic value of instrument is clearly reflected with the use of FVA and they strongly believe that fair value and relevant volatility reflectsShow MoreRelatedIs Fair Value Accounting Really Fair?1021 Words Ã |Ã 5 Pages For our project, we wanted to pick the topic, Ã¢â¬Å"Is fair value accounting really fair?Ã¢â¬ The first part of our presentation was simply explaining what fair value accounting is. This is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an armÃ¢â¬â¢s length transactions. According to the Financial Accounting Standards Board, the price that would be received to sell an asset or price to transfer a liability in an orderly transaction betweenRead MoreGlobal Financial Crisis : Its Causes And The Global Responses Essay1592 Words Ã |Ã 7 PagesAssignment topic: Global financial crisis: its cause and the global responses Introduction The global financial crisis or economy crisis is commonly believed to have begun in July 2007 with credit crunch, when a loss of confidence by the US investors in the value of sub-prime mortgages caused a liquidity crisis. On the other hand, due to the big changes that took place over the last 20 to 30 years in the worldwide economy and the influence of 2007 financial crisis, it has re-emerged as one of theRead MoreFinancial Analysis1614 Words Ã |Ã 7 PagesConsequences of Accounting During the 2008 Financial Crisis Group 3 October 4th, 2011 Actors in the 2008 Financial Crisis Ã¯â §Ã¢â¬Ë U.S. Government Ã¯â §Ã¢â¬Ë European Union oÃ¢â¬Ë Commission oÃ¢â¬Ë Political figureheads Ã¯â §Ã¢â¬Ë Banks oÃ¢â¬Ë U.S. oÃ¢â¬Ë E.U. Ã¯â §Ã¢â¬Ë International Accounting Standards Board (IASB) Ã¯â §Ã¢â¬Ë Investors and External Regulators 10/3/11 2 Actors in the 2008 Financial Crisis (US Government) oÃ¢â¬Ë Generally mentioned indirectly in the news articles oÃ¢â¬Ë Not in the forefront of the case, as banks were drivingRead MoreIas 39 Regulate About The Recognition And Measurement Financial Asset And Liabilities1356 Words Ã |Ã 6 PagesIAS 39 regulate about the recognition and measurement financial asset and liabilities. Under this standard, financial asset classified under four types which are: financial asset valued under fair value, Loan and Receivable (LR), Available for Sale (AFS), and Hold to Maturity (HTM). Each classification has different treatment of measurement which are under FVA and amortisation. Amortisation of financial asset should applied Effective Interest Method (EIM) which followed the application of discountedRead MoreThe Standards Of Accounting Standards830 Words Ã |Ã 4 PagesAccounting standard set has become debatable topics in regards its function in real business. The standards of accounting have been developed throughout years and many countries has applied different accounting standard. However, as business world has become interconnected, there is an urged in need to have one stand-alone of accounting standards that could use worldwide. Therefore, many countries developed convergence of their accounting standard into International Financial reporting standard (IFRS)Read MoreThe Subprime Loan Crisis : An Analysis Of The Ethical Shortcomings1495 Words Ã |Ã 6 PagesThe Subprime Loan Crisis An Analysis of the Ethical Shortcomings Ten years ago the US housing market was booming and with a constant rise in prices there didnÃ¢â¬â¢t seem to be an end in sight. It is, however, difficult to know when a peak is reached and for participants to take the appropriate actions in time. Nevertheless, as several studies have shown, measurements which were or were not taken made the bubble worse. Despite warnings from experts, investors and senators, the participants actions onRead MoreHistorical Development Of Fair Value Measurement1400 Words Ã |Ã 6 PagesFair value measurement is one of the models which provide guidance on how entities should determine the fair value of financial instruments for reporting purposes. This paper discusses the Financial Accounting Standards Board (FASB) Exposure Draft issued on December 3, 2015 which proposed amendments to Fair Value Measurement (Topic 820): Disclosure Framework Ã¢â¬â Changes to the Disclosure Requirements. The paper analyzes some of the key points of the exposure draf t, among other things, the history andRead MoreHistorical Development of Gaap1322 Words Ã |Ã 6 PagesA Historical Look at U.S. GAAP Lauren Hollis Accounting Theory Texas WomanÃ¢â¬â¢s University School of Management Dr. Pamela Baker January 26, 2013 ABSTRACT This paper discusses the historical development of generally accepted accounting principles through its contributing sources from 1930 to the present. U.S. Businesses had been using double entry accounting since the 1800s yet no uniform accounting practices had been introduced until the American Institute of Accountants (AIA) recommendedRead MoreHistorical Development Of Financial Accounting Theory1526 Words Ã |Ã 7 Pagesthe fair value accounting concept, an understanding of the foundation of accounting is where it is today is needed. This information provides a guideline of how the first conceptual ideas of accounting first began and changed overtime to accommodate the ever increasing changes with investment options along with lobbying efforts of individuals. The FASBÃ¢â¬â¢s Statement of Financial Accounting Concepts (SFAC) No. 8 indicates that the primary purpose of financial reporting is to provide financial informationRead MoreThe Accounting Principles Of Accounting1754 Words Ã |Ã 8 PagesMeasurement of accounting elements is the most significant factors that entail the process of preparing financial statements. Accounting measurements presents the vital economic objectives for various accounting entities (Horngren, 2009). Fair value refers to a financial reporting approach operating under the accepted accounting principles (GAAP). This accounting method is also referred to as Mark-market accounting practice. In united Sates majority of the public and private companies uses fair value accounting
Kelsey Johnson Dr. Michele levy ENGL 336 April 14, 2013 Weekly Informal Response 1a. Ã¢â¬Å"KureishiÃ¢â¬â¢s articulation of his identity crisis is both an index of the pain of feeling devoid of secure roots, and also something we might use as a pivotal moment when thinking about the creative necessities of migrancy and diasporaÃ¢â¬ ¦living Ã¢â¬Ëin-betweenÃ¢â¬â¢ different nations, Ã¢â¬Ëof, and not ofÃ¢â¬â¢ each place, feeling neither here nor there, unable to indulge in sentiments of belonging to either location, defined by others in often unflattering ways. We will write a custom essay sample on Jasmine by Bharati Mukherjee or any similar topic only for you Order Now Ã¢â¬ (Beginning Postcolinalism, p. 47) 1b. The above quote from our theory text describes the feeling of not belonging somewhere due to an identity crisis. This crisis was described as coming from the fact that one was not from a certain region, or may not Ã¢â¬Å"belongÃ¢â¬ to the group of that particular region. For example, I may be seen as odd or not belonging in a region full of white Irishmen and they would make it known I donÃ¢â¬â¢t belong in these said Ã¢â¬Å"unflatteringÃ¢â¬ ways. 1c. In the novel Jasmine, she is continuously moving and suffering because of this identity crisis tied to her constant migration. For example, when JyotiÃ¢â¬â¢s first husband is killed she does not do the traditional burning of her own body with her husband; but she moves to Florida. During her travels and attempts to obtain citizenship in America, Jyoti endures the horrible conditions that come with illegal immigration; For example, secrecy, hunger, rape, and even murder. All of this because she Ã¢â¬ËisnÃ¢â¬â¢tÃ¢â¬â¢ ofÃ¢â¬â¢ this nationÃ¢â¬ ¦? The text says, Ã¢â¬Å"I wanted to become the person they thought they saw: humorous, intelligent, refined, affectionate. Not illegal, not murderer, not widowed, raped, destitute, fearful. In Flushing, I had lived defensively in the midst of documented rectitude. I did not want to live legally if it also meant living like a refugee. Ã¢â¬ (Jasmine, p. 171) 2a. Ã¢â¬Å"In this section, we shall consider the extent to which Western feminist discourses are able to address the double colonization of women living in once-colonised societies and in Western locationsÃ¢â¬ ¦John Thieme has explained that Ã¢â¬ËWestern feminist writers and theorists have frequently seen parallels between their struggles and those of post-colonial women and have particularly identified with women who suffer Ã¢â¬Å"double colonizationÃ¢â¬ (BP, p. 06) 2b. The above quote describes the relationship between Ã¢â¬Å"first worldÃ¢â¬ and Ã¢â¬Å"third worldÃ¢â¬ women. Of course, third world countries are those that exist below the poverty line and struggle to survive. Theime says that feminist writers often see similarities between the lives of their subjects as well as their own. 2c. I believ e the entire novel Ã¢â¬Å"JasmineÃ¢â¬ is a prime example of the relationship described above; how feminist writers connect with their subjects and audiences due to Ã¢â¬Å"double colonizationÃ¢â¬ . In our novel, Mukherjee writes about the life story of Jyoti and notices similarities in their lives, not because they have the same exact life story, but because of their struggles as women in society. For instance, Jyoti took control of her own life and created her own destiny (despite starting over several times); also because she is a woman and isnÃ¢â¬â¢t expected to have much control over her own life. This is also shown in other novels weÃ¢â¬â¢ve read. 3a. These Ã¢â¬Å"in-betweenÃ¢â¬ spaces provide the terrain of elaborating strategies of selfhood Ã¢â¬â singular or communal Ã¢â¬â that initiate new signs of Ã¢â¬ËidentityÃ¢â¬â¢Ã¢â¬ ¦ Bhabha also opposes the idea of a sovereign or essentialised subject. For Bhabha and Spivak identity is a discursive product. Second, because subjectivity is discursively produced, it is possible for it to be remade and remodeled in new and innovative ways Ã¢â¬â hence his attention to the processes of Ã¢â¬ËarticulationÃ¢â¬â¢ and Ã¢â¬ËelaborationÃ¢â¬â¢ in the quotation. The border is a place of possibility and agency for new concepts, new narratives, new ideas. Third, the new Ã¢â¬ËsignsÃ¢â¬â¢ of identity which are possible impact upon both individuals and groups. Ã¢â¬ (BP, p. 252) 3bc. The above quote speaks about the crossing of physical borders and how they coincide with the crossing of imaginary borders within oneself. For instance, when a person moves from one geographical location to another, they seem to move from one persona to another. This was DEFINITELY seen throughout the novel Jasmine. As the narrator moved, she changed identities and personalities. How to cite Jasmine by Bharati Mukherjee, Papers
Saturday, April 25, 2020
Joe D'Eustachio Management Theories and Practices Current Topic Report #1 Chicken Wings and Football Chicken wings are everywhere these days. Just about anywhere you go to eat, chicken wings are on the menu. But what happens in the month of September that causes chicken wing purchases to increase? The answer is simple: football. Easy to eat while watching a game, wings have become a staple in the restaurant/football world. During the month of September, when the NFL begins its season, people race to bars and restaurants to get wings, and watch some football. Popularity for wings soars during football season, as wing purchases increase from about 35% to 50%, according to several Long Island wings establishments. This demand for wings has caused the price of whole-sale chickens to increase to $2.50 a pound, which is nearly double what it cost 12 years ago. With more and more people offering wings as an option on their menu and the increasing demand, large wing distributors have been forced to offer more locations where their business can thrive. For example, the number of Buffalo Wild Wings locations has nearly tripled in the past 10 years. Another example brings us to Wingstop , who have doubled their locations in the last 10 years as well. Across Long Island, wing businesses thrive this time of year. The owner of two Wing Zone locations in East Meadow and Bellmore, Matthew Licht, says that he sees a 5% bump in business once football season starts. He even goes on to say that when the local teams are doing well, business goes up even more. However, in 2005, he learned a lesson. During his Super Bowl as an owner that year, Licht says he was overwhelmed by orders and the day was a disaster. He had to take to the local newspaper and took up a full-page advertisement apologizing to his customers. With his lesson learned, during the most recent Super Bowl, his two stores selling more than $25,000 in Bellmore, and more than $20,000 in East Meadow. Altogether, that's about 55,000 chicken wings. Another profitable wing business is Wing Over Farmingdale. Owner Jason Oliver said he sold around 45,000 bone-in wings and about 2,000 POUNDS of boneless wings during the last Super Bowl. The funny thing about this is that Oliver only takes pre-orders for the Super Bowl, and he runs out 24 hours in advance. He has also said that internet-delivery companies, like GrubHub for example, have helped boost his business 5% over the past two years. During football weekends, Oliver said that sales of wings go up to 45-50%. Almost all of these owners agree that diversity in the menu is a necessity. They need to what sells, what doesn't, and continue working from there, just like any other business. Some restaurants offer anywhere from 10-20 different sauces. Some owners even go as far as to putting their wing sauces on different menu options, like burgers or salads. Owners and customers agree on something too: wings are easy to eat while watching the game, and they go perfect with beer. They complement each other. Jason Oliver states "It's a party favorite and nothing goes better with beer than chicken wings." Another large reason all these people are rushing to restaurants would be the giant TV's they show the games on. Some people may not have the TV's these bars have, so watching the game that way is a type of experience for them. Wings are a staple at nearly any restaurant you go to, especially during football season. It's clear that football and chicken wings go hand in hand. Not only are they easy to eat during the game, but it makes the game more enjoyable being able to pig out on wings. Going out, getting food and enjoying a game is definitely an experience for any football fan. The rise in wing sales during this time of year should come as no surprise.
Wednesday, March 18, 2020
How Teachers Can Achieve Happiness The stereotype around elementary school teachers is that they are always peppy and happy and full of life. While this may hold true for some elementary school teachers, it sure does not for all teachers. As you know, having a job in the teaching profession can be quite challenging. Teachers have a lot of pressure on them. Not only do they have to learn and teach the common core standards to students, but they also have the challenging job of making sure that their students are ready to be productive citizens once they get out of school. With all of this pressure, along with the responsibilities ofÃ lesson planning, grading, and discipline, the job can sometimes take a toll on any teacher, no matter how peppy their nature. To help relieve some of these pressures, use these tips on a daily basis to help you deal and, hopefully, bring some joy to your life.Ã 1. Take Time for Yourself One of the best ways that you can achieve happiness is to take time for yourself. Teaching is a very selfless profession and sometimes you just need to take a moment and do something for yourself. Teachers spend so much of their free time scouring the internet looking for effective lesson plans or grading papers, that they sometimes end up neglecting their personal needs. Set aside one day of the week for lesson planning or grading, and set aside another day for yourself. Take an art class, go shopping with a friend, or try that yoga class that your friends are always trying to get you to go to.Ã 2. Make Your Choices Wisely According to Harry K. Wong in the book Ã¢â¬Å"How to Be an Effective TeacherÃ¢â¬ the way a person chooses to behave (as well as their reactions) will dictate what their life will be like. He says that their are three categories of behavior that people can exhibit, they are protective behaviors, maintenance behaviors, and enhancement behaviors. Here are examples of each behavior. Protective Behavior Ã¢â¬âThese are people who are full of excuses, who complain a lot, and are good at justifying their behavior. You probably always see them in the teachersÃ¢â¬â¢ lounge complaining about everything and anything that is happening in their classroom as well as at the school. Maintenance Behavior Ã¢â¬â These are the people who are very hardworking and who spend a lot of time wishing (I wish I won the lottery, I wish I had a bigger classroom). They tend to get along well with others, and donÃ¢â¬â¢t complain or put people down in the teachersÃ¢â¬â¢ lounge. They are concerned with their own individual survival, health, and safety. Enhancement Behavior Ã¢â¬âThese individuals enjoy active learning and participating in groups. They go to every teacher conference and meeting, and are known around the school as a leader. Now that you know the three types of behavior, which category do you fall into? Which type of teacher do you want to be? The way that you decide to act can greatly increase or decrease your overall happiness and well-being. 3. Lower Your Expectations Let go of the expectation that every lesson has to go exactly as planned. As a teacher, you will always have misses along with the hits. If your lesson was a flop, try to think of it as a learning experience.Ã Just as you teach your students that they can learn from their mistakes, so can you. Lower your expectations and you will find that you will be much happier. 4. Do Not Compare Yourself to Anyone One of the many problems with social media is the ease with which people can present their lives in any way they wish. As a result, people tend to only portray the version of themselves and their life that they want othersÃ to see. If you are scrolling down your Facebook news feed you may see many teachers that look like they have it all together, which can be quite intimidating and result in feelings of inadequacy. Compare yourself to no one. ItÃ¢â¬â¢s hard not to compare yourself to others when we have Facebook, Twitter and Pinterest in our lives. But just remember that it probably takes some of these teachers hours to create the perfect-looking lesson. Do your best and try to be satisfied with the results.Ã 5. Dress for Success Never underestimate the power of a nice outfit. Ã While dressing up to teach a bunch of elementary students may seem like a bad idea, research shows that it can actually make you feel happier. So the next morning that you want an instant pick-me-up, try wearing your favorite outfit to school. 6. Fake it Weve all heard the expression, Fake it til you make it. Turns out, it might actually work. Some studies that show if you smile when you are unhappy, you can trick your brain into feeling like you are happy. The next time your students are driving you crazy, try smiling- it might just turn your mood around. 7. Socialize with Friends and Colleagues Do you find that you tend to be alone a lot when you are feeling unhappy? Studies found that the more time unhappy people spent socializing with others, the better that they felt. If youÃ¢â¬â¢re spending a lot of time by yourself, try getting out and socializing with your friends or colleagues. Go eat lunch in the faculty lounge instead of your classroom, or go for that drink after school with your friends.Ã 8. Pay it Forward There have been so many studies conducted that show that the more that you do for others, the better you feel about yourself. The sheer act of doing a good deed can make a huge impact on your self-esteem, as well as your happiness. The next time that you are feeling down, try doing something nice for someone else. Even if its just holding the door open for a stranger or making extra photocopies for your colleague, paying it forward can really improve your mood. 9. Listen to MusicÃ Studies find that focused listening to music that is upbeat, or even just reading lyrics that are positive, can improve your mood.Ã Classical music is also said to have a mood-boosting effect on people. So the next time youÃ¢â¬â¢re sitting in your classroom and are in need of a pick-me-up, turn on some upbeat or classical music. Not only will it help to boost your mood, it will help your students moods as well. Ã Ã 10. Express Gratitude A lot of us spend a lot of our time focusing on what we dont have, rather than focusing our time on what we do have. When we do this, it can make you feel sad and unhappy. Try expressing gratitude and focusing all of your attention on the positive things that you have in your life. Think about what is going right in your life, and all of things that you are grateful for. Each morning before your toes even hit the ground, say three things that you are grateful for. Here are a few examples of what you can do each morning to express gratitude. Today I am grateful for: My health and the health of my familyThat I have food, clothes and a roof over my headThat I have a wonderful job that helps me provide for my family You have the ability to control how you feel. If you wake up feeling unhappy then you have the ability to change that. Use these ten tips and practice them daily. With practice, you can form lifelong habits that can increase your overall happiness.
Sunday, March 1, 2020
Edward Craven Walker and the History of Lava Lamps Singapore-born inventor Edward Craven Walker was having a pint in post WWII England. The pubs decor included a fascinating lamp, which Craven Walker described as a contraption made out of a cocktail shaker, old tins and things. It was to become the starting point and inspiration for Craven Walkers design. Edward Craven Walker Designs the Modern Lava Lamp The liquid-filled inventor proceeded to purchase the equally liquid-filled lamp, whose creator (Mr. Dunnett) Walker later discovered had died. Walker became determined to make a better version of the novelty item and spent the next decade and a half doing so (in between running an international house-swap agency and making films about nudism.) Walker worked on improving the lamp with his company, the Crestworth Company of Dorset, England. Initially local retail merchants thought his lamps were ugly and disgusting. Luckily, for Craven Walker the Psychedelic Movement and the Love Generation came to dominate 60s merchandising in Great Britain and sales of the lava lamp soared. It was the perfect light for modern times, Walker declared: If you buy my lamp, you wont need to buy drugs. The Lava Lamp's Secret Recipe Edward Craven Walker perfected a secret Lava recipe of oil, wax, and other solids. The original model had a large gold base with tiny holes to simulate starlight, and a 52 oz globe that contained red or white Lava and yellow or blue liquid. He marketed the lamp in Europe under the name of Astro Lamp. Two American entrepreneurs saw the lava lamp displayed at a German trade show and bought the rights to manufacture the lava lamp in North America under the name Lava Lite Lamp. Lava Lamp Sales and Success Before selling his company, sales of the lamps had exceeded seven million units. Today with over 400,000 lava lamps made each year, the Lava Lamp is enjoying a comeback. Craven Walkers originalÃ company, the Crestworth Company, changed names to Mathmos in 1995 (a reference to the bubbling force in Barbarella.) They still manufacture the Astro, Astro Baby, and more Lava Lamps in their original home of Poole, Dorset, UK. How the Basic Lava Lamp Works Base: Holds a 40 watt frosted appliance light bulb inside a reflecting cone. This cone rests on a second cone, which houses the light bulb socket and electrical cord connection. The electrical cord has a small in-line switch on it and a standard US 120v plug. Lamp: A glass container containing two fluids, called water and lava, both trade secrets. A metal cap seals the top of the lamp. There is a small amount of air at the very top of the lamp. Loose at the bottom of the lamp is a small coil of wire called the element. Top Cap: A small plastic cover over the top of the lamp which serves to both hide the lamps inner cap and the waterline. When turned off and cold, the lava is a hard lump at the bottom of the glass container and can barely be seen. The light bulb, when turned on, heats both the element and the lava. The lava expands with heat, becomes less dense than the water, and rises to the top. Away from the heat, the lava cools and becomes denser than the water and falls. The lava at the bottom reheats and begins to rise all over again and as long as the lamp is on, the lava keeps flowing in pleasing up-and-down waves. Initially lamps require a warm-up period of about 30 minutes to melt the lava before going into full motion. Todays modern lava lamps use Borosilicate glass that can withstand quick extremes in temperature.
Friday, February 14, 2020
Globalization in China as it relates to MacroEconomics - Essay Example (U.S. Commercial Service) China has been doing an admirable job of attracting foreign direct Investment (FDI), which has made it a powerful force to reckon with in the World Economic scene. In 2004, China kept its place as one of the top two destinations in the world of FDI adding $64 billion. Over $564 billion of FDI has been invested in China since it opened to the world in 1979.Executives overwhelmingly consider China to be the undisputed top FDI destination for the third year in a row in 2004. About 40% of global investors expressed a more positive outlook on China's economy, four times the number of executives who had a dimmer view of China. The path to economic liberalization has been a difficult but fruitful one for China. It has triumphed due to its determination and commitment to open up its markets to foreign investors. A Business Week article in 2001 stated that "after two decades of steady but halting reforms, Beijing is now racing to dismantle the last vestiges of a command economy". Let us trace the FDI history in China. Since late 1978, China has carried out massive economic reforms in an effort to restructure its economy to be more market oriented. FDI was one of the primary goals of its reforms. The government has over the years slowly liberalized the restrictions on FDI to gain technology transfer, modern management skills and foreign exchange. The government's first move to entice FDI was taken in 1979 with the Equity Joint Venture Law. This law allowed the legal entry of FDI and provided a statutory basis for the establishment of joint ventures in China. But Investment was allowed in only designated Special Economic Zones (SEZs) and was encouraged via tax incentives. As investments grew, additional laws were required. In 1983 another law was issued which provided greater details on all joint ventures in FDI. The government also expanded the SEZs in 1984.Then it passed Foreign Exchange Balance Provisions and Encouragement provisions in 1986, which facilitated FDI and allowed firms to solve fore ign exchange problems. (Jun Fu, November 2000). In 1994, China conducted a new round of FDI reforms. It abolished the official exchange rate and adopted a market rate. It also abolished the exchange quota retention system. In 1996, the government adopted IMF article A that removed all restrictions on foreign exchange transactions. All these reforms went a long way to boost investor confidence. In the November 1999 US-China WTO Accession Agreement, China agreed to several ground breaking reforms. (Sandra Berkun, 2001). Some of them were: China will phase in trading rights and distribution services over three years, and open up sectors relating to distribution services such as repair and maintenance, warehousing, trucking and air-courier services (US-China Business Council). China committed to allow FDI in its telecommunications industry. Increased access in banking, insurance and securities will be phased in the next five years resulting in full market access in all activities and regions. China also promised national treatment for foreign banks and minority ownership in domestic security firms and more insurance businesses.(Lardy ,1998) Increased access for professional services including accounting, consulting, engineering, medical and Information Technology. (Lardy,