Introduction to Financial Accounting Research Paper

Introduction to Financial Accounting - Research Paper Example Amount Opening capital 58630 Add: Net profit 38565 Less: drawing (-)24700 Bank overdraft Creditors o/s security guard wages 400 o/s telephone and e-mail 200 o/s website maintenance expenses 375 72495 2380 19670 975 95520 Debtors Cash in hand Freehold premises 60000 Less: depreciation(new) -(3000) Less: depreciation(old) - (18000) Safe 12000 Less: depreciation(new) -(2880) Less: depreciation(old) -(4800) Shop fitting 34000 Less: depreciation(new) -(3400) Less: depreciation(old) -(10200) Closing stock3400 520 390004320 20400 2788095520 Adjustment entries: (1) O/S Security guard wages 400 should be added in the liabilities side. (2) O/S Telephone and e-mail 200 should be added in the liabilities side. (3) 900*5/12= 375 is O/S of the website maintenance expenses should be added in the liabilities side. (4) 60000/20 years= 3000 for year should be deducted as new depreciation and old depreciation should be Deducted from actual cost, therefore 60000- 18000(old) - 3000(new) = 39000. (5) 12000-4800(old) =7200(new depreciation) 2880= 4320.... Coming to the next concern that, the value for your premises seems very low, though you paid more than that of them because the old depreciation is more than the new calculated premises. As we can see it separately below the balance sheet and on the balance sheet, this comes under the Asset side in the Balance Sheet and the new calculated and paid depreciation is very less that the previously calculated and paid one. Therefore, more cost was been paid earlier, which if alone calculated will be very high, that is why the value shown for your premises now are very low. As you have said that, you took  £24700 out of the business for your own personal consumption, this comes on the debit side of trading account as owner’s drawings and subtracted under the liabilities side in the balance sheet. As we know that the owner’s drawing is subtracted from the sum of net profit and opening Capital, and as the amount is not been returned, though it is taken from the profit of the business it is subtracted. In addition, counted as neither a loss or bad debt or a profit and this is why is cannot be written, calculate or charged under the profit statement. The distinction between the fixed asset and the current asset is, fixed asset is been defined as that asset which is been acquired for relatively long periods for carrying on the business of the enterprises. They are not been meant for resale. Land and building, machinery, furniture are some of the important examples of fixed Assets. Sometimes the term â€Å"Block Capital† is also been used for these terms.

Design and Facilities in Curry Leaf Restaurant is the United Kingdoms Assignment

Design and Facilities in Curry Leaf Restaurant is the United Kingdoms Finest Indian Restaurant - Assignment Example These project a beautiful inner view that attracts both locals and visitors making Curry Leaf restaurant the preferred place by many. The restaurant has a main objective of making sure that, it provides not only Indian cuisine but also an Indian environment for its customers. Therefore, the restaurant management has come up with two concepts on how to go about realizing this goal. The first one is that the management proposed to establish an Indian garden with an Indian touch. The management had in mind a place that gives its Indian customers and all its customers a pleasant interaction with the garden’s natural beauty. A garden is referred to as a place to grow the plant and exhibit a variety of plants for ornamental purpose or practical use. However, since the restaurant is located in town and space is limited, a good layout plan is needed to realize a natural Indian garden look. For instance, to come up with a house a professional architect is needed the same case with a garden. In order to realize satisfactory results from a garden, the garden should be designed carefully considering its permanent and se mi-permanent features (Miller et al, 2012). An Indian garden combines the aesthetic Indian beauty, artistry from India and knowledge on growth and development of plants as well as principles of garden maintenance practices. May it be arranging trees, climber, shrubs, or any other flowers, a design is relevant. This is because designs outline the character of an object or a place in serving its sole purpose. The design may either be aesthetic of economic in such a way it attracts only for a purpose (Miller et al, 2012). Therefore, there are a number of fundamental factors to consider. The first one is that the garden layout should be convenient and comfortable to the owner. The second one is that the design should be simple and selective. For example, in this case, the garden is an Indian garden; therefore, the design should be simple where even an American Indian will recognize the Indian touch at a glance.

How does Thomas Hardy create and maintain Essay Example for Free

How does Thomas Hardy create and maintain Essay How does Thomas Hardy create and maintain a sense of mystery and malignant, uncontrollable forces in The withered arm Thomas Hardy creates and maintains mystery and malignant, underlying forces by using symbolic descriptions of the setting, the atmosphere and the strange unguessable plot. Thomas Hardy sets the story in the fictional village of Holmstoke. Holm means home and stoke means fire. This gives two impressions, one of a nice cosy warm story, but it also gives the impression that fire is also connected with bad things like Hell and witchcraft. This makes you start to wonder what the story will be like. Thomas Hardy uses natural settings to contrast with unnatural events or behaviour. The heath is used a lot because of this. He also uses the heath because it helps create atmosphere and because it is outside he also uses the weather to reflect the characters mood. An example of this is when Rhoda and Gertrude cross the heath to see Conjuror Trendle and Rhoda does not want to and would have done anything to escape this enquiry, the weather and the atmosphere reflect her dread of what will happen. The thick clouds made the atmosphere dark and it was only early after noon and the wind howled dismally. Hardy also uses the weather to help him describe the changing of time like at the beginning of a paragraph. All the gossip was going on in winter and by the end of the paragraph its in the spring I think Hardy also uses the changing of the seasons as a sort of metaphor to symbolize the changing of the characters. An example is when Gertrude changes from a very beautiful, perfect, kind and caring girl to a scarred irritable superstitious woman. Hardy also has such large gap in time so the changes in Gertrude are more noticeable. Thomas Hardy also uses characters to help him create mystery and underlying forces especially Rhoda Brook. Rhoda is an outsider and she lives out of the village by herself with her son. Shes a little weird because she never mixes with people. People dont really mix with her because of her sleeping with Lodge and having a baby. People think she is a witch. I think this is because people associate her with Trendle. When Gertrude needed to find Trendle the villagers told her to ask Rhoda and she realized that they thought a sorceress would know the whereabouts of the exorcist. But the mystery really begins when she has her vision and next day Gertrude shows her the mark from the vision which is on her arm. The vision is an important part of the story as it is the start of everything and caused everything. Rhoda can not control what is happening to so it helps maintain the uncontrollable forces which are all through this book. Thomas Hardy uses Conjuror Trendle a lot to help create mystery and uncontrollable forces. Just the fact that conjuror Trendle lives on the heath starts to make the reader feel a sense of mystery because the heath represents the weirdness or the story. Trendle also helps create mystery by doing magic in secret and not openly He did not profess his remedial practises openly and it also helps that he was in disguise. He was disguised as a dealer in furze , turf sharp sand and other local products. He had to be disguised because people in that time were very superstitious. I think Thomas Hardy uses Gertrude to help create a sense of uncontrollable forces, this is because things are happening to her mentally and physically which she has no control over. Also because the things that are happening to her are unexplainable, it helps create and maintain malignant uncontrollable forces. Hardy illustrates this physically when her incredible beauty is which is described as the light under a heap of rose petals becomes ruined and scarred by her withered arm; and mentally when she turns from a very nice person to an irritable, superstitious woman Farmer Lodge is not in the story much but none the less is a very important character, because he is the main reason the whole story happens. He is the center of the love triangle of him Rhoda and Gertrude which is why everything happens. As we dont see him much in the story this makes him more important as it helps add to the mystery. Hardy uses imagery to help the reader mentally see whats happening and also to symbolise things. An example of this at the beginning of the booking the lorn milkmaid Hardy paint us the picture of a lot of milkmaids all sitting together gossiping. This gives the impression that the village is quite a close knit place and that one Rhoda Brooke is all by herself on the side not joining in this gossiping. This gives the impression that she is a sort of outsider which no one wants to be friends with which adds to the mystery. A very important image in the story is the withered arm. It creates mystery because the reader will wonder how it happened and malignant uncontrollable forces because the reader will wonder if Rhoda really is a witch. The main themes of the story are witch craft and passion. The passion is in the love triangle between Farmer Lodge, Gertrude and Rhoda. The witch craft is in the vision Rhoda sees and the physical and mental change in Gertrude. Passion and witch craft are the uncontrollable forces in the withered arm. I think one of the things Hardy is trying to say in this book is that life cant always be explained. Thomas Hardy uses many different languages effects. He uses similes and metaphors, to describe Gertrude her face as comely as a live dolls and her face like the light under a heap of rose petals. Hardy also uses extended imagery when he uses the river outside the executioners house to link him to the village, it stood close to the same stream. He also uses personification in describing the river the waters of which emitted a steady roar. Thomas Hardy shows us which characters are common and which arent by having the common ones use dialect. The only person not to use dialect is Gertrude. Another important factor in creating and maintaining a sense of mystery and malignant uncontrollable forces was the plot. The vision coming true and Rhoda beginning to doubt herself really draws the reader in to the story. I think it was a very effective ending giving no clear answers like yes, Rhoda was a witch or not or no, it was all a coincidence and leaving it up to the reader. That really helps maintain mystery In conclusion I think that by using the characters, settings and a strange plot, Thomas Hardy successfully creates and maintains mystery and malignant forces in the withered arm.

A Case study of j boats

A Case study of j boats Objective: The objective of this essay is to look at the issue of organizational tensions and basics for successful strategy via the case study of J Boats. This essay introduces the case study of J Boats and the key players, details the five forces analysis, looks at resources and capabilities, tensions, the 4 Ps of strategy and finally comes up with the future recommendations to management and strategic risks faced by J Boats. J Boats and Key players: J Boats is Americas most successful and famous boat-builder. Over the period has won many awards. J Boats operates its business in eight countries Argentina, Australia, Italy, France, England, Japan, Brazil and South Africa. Each year, over 100,000 people around the world sailed on one of their boats. It is operated by only five individuals of a single family. Rod who is the founder of J boats made his first boat Ragtime in 1974. Bob is the co-founder of the company and elder brother of Rod and he made the strategy of business. Jeffery, son of Rod became president of the company in 1987. Stuart and Drake sons of Bob became vice-president and sales manager in the same year 1987. Alan, son of Rod became product development manager. In 1993 Drake left his position and Jim (nephew of Rod and Bob) became sales coordinator. Tillotson Pearson International (TPI) is the major supplier of the company. J Boats has a network of 65 independent of dealers around the world . Five Forces Analysis: The five forces analysis provides a useful framework and checklist for analyzing the competition dynamics of any given industry (Simons 2000, pg 19). The five forces that determine the degree and nature of competition in boating industry are: industry 1. Threat of new entrants Easy to set up for example boat manufacturing can take place in home garage. High investment in research and development and product innovation required. J Boats has created professional dealer network distribution. J Boats have a long history of heavy advertising and this has earned brand equity and loyal customers all over the world. 2. Suppliers All the Boats of J boats are building by TPI and this gives supplier, TPI, a lot of bargaining power. On other hand there is mutual agreement between TPI and J Boats where TPI is exclusive manufacture for J boats. 3. Substitutes Large numbers of recreational activities available e.g. skiing, swimming and outdoor sports such soccer etc. 4. Buyers Buyers are price sensitive. Buyers can easily switch to different suppliers. Dealer earn industry standard margin. 5. Industry rivalry High fixed cost increases the firms willingness to discount to utilize capacity, increasing rivalry. Firms Resources and Capabilities: Resource is more broadly defined as strength of the business embodied in the tangible or intangible assets that are tied semi permanently to the firm (Simons 2000, pg 21). Capabilities refer to the special resources and know-how possessed by a firm that gives it competitive advantage in the market place (Simons 2000, pg 23). J Boats has strengths in the major functional areas of a business, such as research and development and marketing and sales. It has ability to respond quickly and effectively to market needs. J Boats capabilities are also created by being first at creating new design- a first mover and locking out competitors. Tension in organization: Organizations are complex entities in which managers must balance a variety of forces (Simons 2000, pg 7). J Boats needs to balance opportunities and attention. It has three projects in production J/160, J/32 and J/100 that absorbs time and money. It is hard for a company to decide which project to continue with for next years. The managers must ration their time and attention wisely. Secondly, J boats are attempting to grow it business however an excessive emphasis on growth can lead to danger without consideration to profitability. J boats need to balance profit, growth and control. J boats need to make strong financial planning. Only when a business is profitable can managers focus on growing the business (Simons 2000, pg 8). The 4Ps of Strategy: These are Perspective Mission, Position in Industry, Patterns of Action and Plans Goal. These are explained below. Mission statement: A mission statement is a formal commitment to stakeholders that the companys strategy incorporates and recognizes their claims on the organization (Hill 2007 p 34). J Boats mission is to become one of Americas most successful and famous boat- builders. Position in Industry: Means what industry position it wants to achieve through its strategies? (Hubbard, Jaynes, Clowes, Winter, Samuel, Pg. 3.7, 2009). J Boats wants to build best performance sailboats, thus creating value by offering quality products. Patterns of Action: To succeed over the long term, managers must keep their eyes focused on customers and competitors and their ears to the ground. They must listen and learn (Simons 2000, pg 37). J Boats is a best performing brand because of product innovation, advanced research and development and networks and relationships with suppliers and buyers. J Boat is very creative and fast moving with a new idea and currently its moving in low cost boat. Plan Goals: Goals are the ends or results that management desires to achieve in implementing the business strategy. Plans and goals can be used to communicate strategies and coordinate actions (Simons 2000, pg 32). From management perspective greater success of company is to handover J Boats successfully to next generation. Recommendation: These are a few recommendations that could support company to perform in more effective and efficient manner in future. These are explained below. Effective planning system: Effective financial planning means the development and implementation of co-ordinate plans for the achievement of a clients overall financial objectives (Leimberg 2007, p 3). J boats need to make strong financial planning. These will tell the J boats that whether the company is running as efficiently as possible or not. It will also help management to analysis cash flow position, further investment objective and goals. Quality and performance: By being the first mover (means first to create a new performance boat design) in the niche product segment ( i.e. quality and performance) alone is not sufficient to ensure this advantage is maintained, and J Boats must continue to innovate in product development, maintain good supplier and dealer network and stay one step ahead of its competitors. Expansion: To create long-term strategic advantage, J Boats really needs to look to expansion options that ensure strong growth and profitability. On this basis, expansion of new low cost boat and different supplier bases will provide a good foundation. Strategic Risk: The process of overseeing the management of all the firms risks is strategic risk management (Hubbard, Jaynes, Clowes, Winter, Samuel, 2009). However, it is vital that the risk attached to any options is carefully considered by J Boats before embarking on these options. They will significantly change the underlying business model of J Boats, increasing the level of complexity and uncertainty associated with revenue streams generated from new products and markets. In order to successfully integrate any expansion into the existing business, J Boats must ensure that risk management becomes an essential component of the business planning cycle. Conclusion: Future growth and development are clearly important factors in the J Boats business model. The development of brands loyalty and consistency of product innovation and expansion into low cost boat is likely to be the way to success. J Boats ensured that one of the Johnstons was represented on the class association executive board to monitor closely any proposed changes in racing rules that might affect specifications and allowable equipment when racing, this a good example of how the company is ensuring its well placed for the future and has strong capabilities that are able to meet the strategic goals of the company. Company should understand running a business on one supplier base is much more risky in term of long future plan thus its vital to have more than one supplier. Finally we recommend J Boats to consider rotation of duties for fear that if misfortune happen to a family member the business will continue in future without major interruption.

Celsius :: essays research papers

Hot and Cold Winter is coming to the northern hemisphere, and with it, talk of central heating, gloves and scarves, snowfall, and record low temperatures. Monitoring temperatures is part of our everyday life — whether we're talking about the weather, our bodies, central heating, or cooking. In the United States, we typically measure temperature in degrees Fahrenheit. But in other countries, such as England, you'll get the weather forecast in degrees Celsius. Recipes will advise you to bake a pie at 205Â ºC and not 400Â ºF. In fact, the Celsius scale is the most commonly used temperature scale in the world. This week, we have special cause to wonder about the history of this scale, because November 27 is the 300th anniversary of the birthday of the man who invented it. Anders Celsius was born in Sweden in 1701. His parents didn't know that their son's work would one day make their family name an everyday word used by millions of people around the world. Meet Professor Celsius The world Anders lived in was very different than the world we know. Much of the knowledge that we now take for granted — such as the motion of Earth with respect to the Sun and planets — was only beginning to be understood then. In Europe, radical and brilliant scientists, such as Galileo and Sir Isaac Newton, had been developing new and revolutionary ways of understanding the workings of the world and the universe. The era was known as "the Enlightenment," and it was a good time for someone of Anders's ability to be working in the field of science. Anders's talent came from his family of academics: one of his grandfathers was a mathematician and the other an astronomer, and his father, Nils, was a professor of astronomy. As a child, Anders showed a natural flair for mathematics, but he developed a keen interest in astronomy and became a professor at the age of 29. So, how did a clever astronomer come to develop a temperature scale? The answer lies with the weather. When making observations of the night sky, Anders monitored the weather conditions, including the temperature. At the time there were a lot of different kinds of thermometers with different scales — by the time Anders started working on the problem of temperature measurement, around 35 different scales existed. (Compare this number with today, when three main scales are in use — Celsius, Fahrenheit, and Kelvin.

Freedom of Speech and Expression - Little Freedom in a Complex World

Little Freedom of Expression Freedom of expression, like the air we breathe, is a luxury that most people in western civilization take for granted. I know I certainly took it for granted when I was in the twelfth grade, and that presumption almost got me expelled. In Cornwall, Ontario this last December the idea of freedom of speech did more than get a young man expelled. He was forced to spend the better part of a month, including Christmas, New Year's Eve, and his sixteenth birthday in jail. Finally there is the case of the former mayor of Mukingo in Ruhengeri Prefecture, Juvenal Kejelijeli, who is desperately fighting deportation to face charges for his "freedom of expression," which helped ignite genocide in Rwanda. Free speech and freedom of expression must be protected, but the speakers and writers must also take responsibility for their actions. During the twelfth grade my belief in freedom of expression was put to the test. When I was given an assignment to write a short story for my grade twelve creative writing class on any subject I wanted; I made the mistake of doing what I was told. It was, admittedly, a disturbing story, filled with vengeful death, anti-religious sentiment and gross sexual abuse written by a confused young man. However, none of the characters had any basis in reality, and none of the violence could be associated with any specific people or institutions. This was purely a work of fiction and it almost got me kicked out of private school in England. Not only was I afraid of the reaction I was going to get from my father, but it also shook the very foundations of my beliefs in free speech and freedom of expression. A work of fiction, regardless of the content, is still just a work of fiction ... ...ther number of oppressed countries. Therefore these freedoms must be utilized with a certain degree of caution and responsibility. Once we start censoring it becomes difficult to decide when and where to draw the line. When the responsible use of these freedoms comes into question, we as a society are called upon to decide what constitutes responsible freedom of expression, and what punishments are merited when the lines are crossed. If the judge and jury react too harshly, as in the case of the Avonmore student, they themselves become guilty of a crime far more severe than alleged threats seemingly found in a work of fiction. However had the story included names of current students, or had it been a call to other bullied students to carry out the grim plot, then punishment would be in order. In the mean time let's nourish creativity and be alert for cries for help.

The End of the Cold War and the New Threats to Global Security

1.Introduction The end of the Cold War marked a new beginning for the international security agenda, and the demise of the simple bipolarity brought forward a revised agenda for human rights, international peace and cooperation and stability. The end of the Cold War triggered the rise of new threats and challenges to international security, and the advance of globalization led to the redistribution of power in the international system (Baylis & Smith, 2007; Brown, 2005). In the context of globalization, the capacity of the state was undermined and as a result state-to-state relations dramatically changed (Strange, 2002). Classic wars were gradually transformed into â€Å"modern wars† (Kaldor, 1999; Smith, 2006; Shaw, 2005). In this different political environment, the security challenges were no longer existent on a state-to-state level, because of the growing importance of sub-state actors. This essay will focus on the reorganization of the international system after the end of the Cold War, and will discuss the new challenges to global security, posed by the demise of the bipolar regime. The essay will support the view that with the end of the Cold War, the world became a more dangerous place, because of the multiplicity of actors on the international scene and the changed perceptions of military force, war and security. Changing perceptions of military force and war The end of the Cold War brought forward the change of the perceptions of military force in several different aspects. The impact of these changed perceptions upon the international security agenda has been undisputed, and will be discussed in detail. For clarity, the author has chosen to focus only on the most important security-related transformations following the Cold War – the new sources of threat such as nuclear weapons and terrorism, and the changing notions of war in the context of globalization. Their features will be discussed in the context of the changed dynamics of the international system.2.1 New sources of security threatThe end of the Cold War led to new security challenges, because of changing notions of military force and the new sources of security threat (Smith, 2006; Shaw, 2005). The first one is related to the rise of nuclear power. With the demise of the USSR, the simple bipolarity of the Cold War world was replaced by a multipolar world, where the centr ality of power was no longer clearly defined (Brown, 2005; Jackson & Sorensen, 2003). The rise of the Asian economic powers, the advance of nuclear and biological weapons in countries such as Iran, Israel and Iraq challenged the stability of the mutual deterrence principle, comfortably sustained during the Cold War (Hammes, 2005). Another source of security threat after the Cold War was related to terrorism, and the rise of sub-state actors (Smith, 2006). The War on terror, embedded in the Bush doctrine, was a clear demonstration of the changing nature of war, and the elusive image of the new enemy (Shaw, 2005). After 9/11 it became clear that terrorism was not a war against an enemy, but against tactics (Baylis & Smith, 2007). Its manifestations and capacity to destroy were as much the result of political construction, as of historically embedded perceptions about the East and the West and their manipulation by mass media and policy-makers. After the end of the Cold War non-state actors such as Al Qaeda and Hamas, became a new source of security threat because of their ability to operate internationally but at the same time to exist inside the state (Shaw, 2005). Also, the controversies, around states labelled as rogue and unable to comply with the international standards for peace and democracy such as Afgha nistan, Iraq, North Korea, Libya and Syria necessitated new means for meeting the challenges to threat and security. They will be discussed in section 3.2.2 Changing notions of war in a global worldHere it is important to mention globalization as a factor, which led to re-examination of the capacity of the state to observe human security and human rights (Strange, 2002). In the context of a borderless world, the international human rights agenda is inevitably revisited, and the main carriers of legal standards are no longer represented solely by state actors, but by the global civil society, comprising of International non-governmental organizations (INGOs). Because of these inevitable transformations, the very perception of security, threat and war changed in several important aspects. As Mary Kaldor famously observes, the end of the Cold War saw the rise of the modern wars, which lack time and space, because they are based on non-quantifiable demands often related to ideology, eth nicity, religion and the social construction of history (1999). The old wars were pushed away by new types of threats and conflicts, such as organized crime, and religious and civil wars. The early 1990s saw the bloody demise of former Yugoslavia, and a series of conflicts in Rwanda, Congo, Sudan and Somalia, triggered by the redefinition of political borders, the struggle over economic resources and ethnic and religious factionalism. In the context of globalization, the modern wars are interstate conflicts, executed by sub-state actors. In this sense, it is important to mention that the growing presence of the sub-state actors has posed new challenges to the classic perceptions of security, because of non-tangible variables such as perceptions, as opposed to old-time military ambitions related to territorial invasion and economic gain. Meeting the new security challenges: a revised agenda for peace In order to meet the new security challenges, identified earlier, the international community had to devise a new agenda in the post-Cold war era. First, humanitarian intervention became important, and triggered as an effect of the revised agenda, where the security of foreign nationals, whose human rights have been violated by their home state became important (Jackson & Sorensen, 2003). Despite the ongoing political debate about the legality and legitimacy of humanitarian intervention, a norm of intervention was authorized by the UN Security Council in the 1990s, which was followed by operations in the Democratic Republic of Congo in 1996 and Kosovo in 1999 (Baylis & Smith, 2007). Despite the criticisms that humanitarian intervention might stop the immediate killing of civilians but is not a reliable strategy for long-term piece, it reveals a shifted emphasis from military to human security in the years following the end of the Cold War. In this relation, another trend in dealing with conflicts became prominent – the imposition of economic sanctions for the purpose of exerting political, rather than military pressure u pon non-compliant states and communities. The post-Cold War agenda for peace also involved the reorganization of military forces, where the deviation from the Clausewitzian concept of war was obvious in the attempt to ameliorate and contain, rather than destroy or simply conquer (Smith, 2006). Examples of such wars of containment are the conflicts in Iraq and Afghanistan. In addition, the role of the global civil society and the growing influence of INGOs as advocates of peace and human rights deserve a mention. The importance of international non-governmental organizations in global policy-making has been undisputed because of the more complicated security agenda in the post-Cold War era. Also, because of the multiplicity of actors in the international system, and the new security needs, states and intergovernmental organizations are unable to deal with international crises without the development programmes and research, provided by the INGOs. Although their political success remains disputed, their role as independent observers and proponents of policy change is growing. Conclusion This essay has attempted to show the changing nature of the international system after the end of the Cold War. Today the international community faces different security threats based on a new perception of military force. Terrorism and the spread of nuclear power have shunned classic state-to-state conflicts, and as a result a new security agenda for peace and cooperation has been embraced. In the era of globalization, the transition towards collective security as a model of global governance, remains a challenge but also a prerequisite for peace. Bibliography: Baylis, J. & Smith, S. (2007) eds, The Globalization of World Politics. Oxford: Oxford University Press Brown, C., (2005) Understanding International Relations, Palgrave: Macmillan, Ch. 6, pp. 106-123 Clausewitz, C. (1977) ‘What is War?’, On War, Princeton: Princeton University Press Hammes, T.X (2005) ‘War evolves into the fourth generation’, Contemporary Security Policy, Vol.26, No.2pp.189–221. Jervis, R. (1991/1992) ‘The Future of World Politics: Will It Resemble the Past?’ International Security 16, no. 3 Jackson, R. & Sorensen, G. (2003) Introduction to International Relations, Oxford: Oxford University Press Kaldor, M. (1999) New and Old Wars: Organized Violence in a Global Era. Cambridge: Polity Press Shaw, M. (2005) The New Western Way of War: Risk Transfer war and its Crisis in Iraq Cambridge: Polity Press Smith, R. (2006) The Utility of Force: The Art of War in the Modern World London: Penguin Strange, S. (2002) The Declining Authority of States, in The Global Transformations Reader: an Introduction to the Globalization Debate, 2nd edition, Held and MacGrew (eds) Cambridge: Polity Press, pp.127-134 Van Creveld, M. (1991) The Transformation Of War NY: Free Press