The Family Over the Time

Question: Write about the "The Family Over the Time". Answer: Introduction: The word family gives rise to million memories in our hearts and minds. By definition, family is an association of relatives descendent from a common ancestor. It is also an establishment consisting of parents and their children (Findlay, Tam, Kohen, 2017). Each member of a family holds a particular place in the family and has a particular role to play. In other words family is a concept that affects the entire upbringing and character of a particular person (Hampden-Thompson, 2013). Over time, the concept of family has changed significantly. Certain factors are there that affected these changes. The effect of such factors on a family may result in either positive or negative outcome as well. This report discusses upon four key factors influencing these changes, their impacts in general society as well as on my family that I have seen over the time. A critical analysis of the changes or the lack of changes is also discussed here. Family Structure and Size: The most common concept of family is an establishment comprising of a father, a mother and children governed by cultural connotations and traditions. The Canadian family structure had seen a significant amount of changes over the time and in recent years (Ammerman, Roof, 2014). Alternative family structures have emerged in recent time almost replacing the traditional family structure that comprised of married couples living with children (Andersen et al., 2013). Traditionally grandparents used to be part of the family as well. Nowadays, emergence of nuclear family tends to exclude grandparents from the basic family structure and include them in extended family ("Canada First Nations Families", 2017). At present, a standard family consists of four members including parents and two children (Beaujot, Liu Ravanera, 2014). I am raised in a similarly structured family. I live with my father, my mother and my brother. Historically the patterns among Canadian families varied in a wide range. Before the arrival of Europeans, different societies and language groups had different customs in their family structure. In nomadic hunting tribes, men after marriage use to live with their wives family. Women took part in hunting and farming activities. On the other hand, in the fishing community women after marriage resided in the patrilocal residence, that is with their husbands family. Sometimes what we call as modern trends was seen in such communities. After the arrival of Europeans, the family structure and traditions among Canadian society changed considerably. The present notion of common law marriage was introduced with the arrival of Europeans as well. It led to the generation of modern nuclear family concept in the Canadian society ("Canada First Nations Families", 2017). As mentioned earlier I belong to a standard nuclear family. My grandparents from my fathers side followed the same pattern of family. My mothers family however followed the traditional notion of family where my maternal grandparents still stay with their son and his family. For generations my fathers side of the family followed the nuclear pattern. After getting a job children choose to live separately from their parents. The traditions are different in my mothers family. The reasons behind such changes are difficult to state but the probable cause is that the place of work tended to be different from their hometown. That encouraged children to live separately from their parents. Now such changes arise due to the limitation of job opportunities in the hometown. My maternal family always resided in the urban area hence no limitation of job opportunity was there. That may have played a key role in the fact that, children stayed with their parents and grandparents. Patterns of Marriage or Divorce: The Canadian society is dominated by the traditional Christian concept of marriage since the foundation of the country. The marriage patterns were influenced by western culture mostly. Historical data shows that prior to Second World War the average age of male for marriage varied from 25-29 during their first marriage where as for females the age varied between 20 and 25 (Eichler, 2017). A significant gap in age between bride and groom was present.A variety of factors may have influenced the changes in marriage patterns. These factors may be the indigenous customs of a particular social group or the religious influence (Adser Ferrer, 2014). In aboriginal communities, the women and men held similar status in a family. Women like men had free choice over whom to marry and when to end a marriage if required of chosen. After the invasions of Christian missionaries, these values changed. Men started holding higher positions and the society became patriarchal. The prospect of sexual intimacy before marriage was also looked down by Christian customs but not in Canadian aboriginal communities (Hou Myles, 2013). The choice of spouse in the aboriginal communities rested upon the bride and groom entirely. However, later family and community influence was seen in choice of spouses. Often traditionally life partners were chosen by family. Presently the customs see changes as the society changes with time. Nowadays the choice of spouse resides with the bride and groom again as seen previously with the aboriginal communities. The marriage rituals in the past were traditionally religious in Canada although in present times civil marri ages of court marriages are also common. Previously there had been a custom of paying Bride price in the aboriginal communities. However, in present times such practices are obsolete. Presently the Canadian society adopted western marriage practices however traditional rituals of indigenous communities are not obsolete yet. Divorce had not been a common concept in Canadian family and society until after the Second World War. Divorce in Canada was extremely limited until 1968 (Ward, 2017). Canada had the lowest divorce rate in the western world. The only reason for divorce until that time was adultery. Alternative unions became a practice in Canadian society in the 21st century. Same-sex marriages have been legalized in some provinces of Canada in 2003. Such changes in the marriage and divorce patterns have a significant effect on the basic family structure and values of Canadian community (Hiller Recoules, 2013). There has been no history of divorce in my family both from paternal side and maternal side. Although distantly related cousin of mine from my paternal side practice live in relationship, it was not the case in common. Such lack of divorce rate may be due to many reasons. Holding on to traditional values may be one of them or simply lack of adulterous relationships may be other. In any instance divorce is always a hard concept to fathom for children. Estranged relationship between parents tends to put unnecessary pressure onto a childs mind. Child Bearing Habits and Rituals: In Canada the traditions for child bearing for women was to conceive in early age. Women due to early marriages tend to conceive children in early age as well. Birthrates were high in Canadian society in aboriginal communities however in modern times a significant decline in birth rate had been observed. This may be due to the fact that there had been a significant rise in abortion rates for the past few decades (Margolis Wright, 2016). Access to contraception also plays a critical role in such decline. In aboriginal communities, the average child bearing age was in mid 20s (Metcalfe, Vekved Tough, 2014). The pattern change in the modern era slightly. However, a drastic change was observed after 2010 in Canadian childbearing patterns. The average age of women conceiving their first child changed to 30. Changes in number of children were also observed. Previously it was a norm of having more than two children in standard Canadian family. After Second World War, there had been a sign ificant rise in birth rate, which was named by the scholars as post war baby boom. Now the norm has become having two children. A single child family is also very common. These similar patterns were also present in my family from my maternal side (Metcalfe, Vekved Tough, 2014). My great grandparents from my mothers side had three boys and two girls. My grandparents had two boys and two girls. My mother grew up with many siblings. However such patterns are absent in my family from my fathers side. My father had been a single child. My grandfather had only one sister. Currently my family is a standard two children pattern. Such variations in the patterns may be due to multiple reasons. An influence of the trends of society may definitely be a significant factor. Lack of too many children in my paternal side of family may be because they tend to follow nuclear family pattern where bringing up many children could be troublesome. On the other hand, a lack of divorce patterns in both the side may be again due to the presence of children. Studies show that couples who have children are less likely to undergo separation than couples who have no child. Divorce has significant affect on a childs mind. Children have soft minds and are malleable in nature. The environm ents they grow up in always have an effect in their character. A child living in a home full of conflicts tends to have a conflicted mind as well. These scenarios may have governed majority of the Canadian families to stay together and have multiple children. Gender Roles with in the Family: The history of Canadian society reflects upon a patriarchal society however, in aboriginal communities it was not the case (Connell, 2014). As discussed earlier, men in the nomadic hunting bands use to live with their wives in her family home. Women in many cases held a higher position in society and household than men. In aboriginal communities both men and women use to work and care for their family in an equal manner. After the advent of Europeans and Christian community in Canada, the norms changed drastically (Eagly, 2013). The Canadian society after being influenced by the Christian missionaries became a patriarchal society in major part. Women started playing a more conventional role in the family (Denis, 2013). Women were entitled with the responsibility of managing home and children where as men used to work outside home. Later however the norms again changed when men and women started working outside the home together or separately however women were still responsible for m anaging homes and children on the major part together with outside work (Mandell Johnson, 2016). Even in modern times, we see such customs. Until my grandfathers generation, this had been the norm in my family although from may parents generation the norm became that both men and women share equal responsibility for managing home and work. Such changes follow patterns of the society. Conclusion: Family culture patterns customs change with changing times as change is an inevitable thing. We have seen how the norms of society changed with time and the effect that had on Canadian families. My family had not been an exception of the general rule. It followed the trend s of time in family structure, childbearing patterns, and gender roles. Such changes influence each individual and their characters. The difference in patterns and culture is normally called generation gap and that is prominent in majority of the families in the modern society. The changes that are observed in my family are governed by multiple factors but the common influence is the society and the trends the society follow in a particular era. In conclusion, it can be said that the social norms and people ling in the society always and in majority influence the changes that we observe in families over time. References: Adser, A., Ferrer, A. (2014). Immigrants and demography: Marriage, divorce, and fertility.Handbook of the economics of international migration A,1, 315-358. Ammerman, N. T., Roof, W. C. (2014).Work, Family and Religion in Contemporary Society: Remaking Our Lives. Routledge. Andersen, S., Ertac, S., Gneezy, U., List, J. A., Maximiano, S. (2013). Gender, competitiveness, and socialization at a young age: Evidence from a matrilineal and a patriarchal society.Review of Economics and Statistics,95(4), 1438-1443. Beaujot, R., Liu, J., Ravanera, Z. (2014). Family diversity and inequality: The Canadian case.Population Change and Life-course Cluster Discussion Paper,1(1). Canada First Nations Families. (2017). Family.jrank.org. Retrieved 31 January 2017, from https://family.jrank.org/pages/199/Canada-First-Nations-Families.html Connell, R. W. (2014).Gender and power: Society, the person and sexual politics. John Wiley Sons. Denis, V. S. (2013). Feminism is for everybody: Aboriginal women, feminism, and diversity.Gender and Women's Studies in Canada: Critical Terrain, 16. Eagly, A. H. (2013).Sex differences in social behavior: A social-role interpretation. Psychology Press. Eichler, M. (2017). Marriage in Canada. The Canadian Encyclopedia. Retrieved 31 January 2017, from https://www.thecanadianencyclopedia.ca/en/article/marriage-and-divorce/ Findlay, L., Tam, B., Kohen, D. (2017). Conceptualization of family: complexities of defining an Indigenous family.Indigenous Policy Journal,27(3). Hampden-Thompson, G. (2013). Family policy, family structure, and childrens educational achievement.Social Science Research,42(3), 804-817. Hiller, V., Recoules, M. (2013). Changes in divorce patterns: Culture and the law.International Review of Law and Economics,34, 77-87. Hou, F., Myles, J. (2013). Interracial marriage and status-caste exchange in Canada and the United States.Ethnic and racial studies,36(1), 75-96. Mandell, N., Johnson, J. L. (2016). RACE, CLASS, AND SExUALITY. Margolis, R., Wright, L. (2016). Older Adults With Three Generations of Kin: Prevalence, Correlates, and Transfers.The Journals of Gerontology Series B: Psychological Sciences and Social Sciences, gbv158. Metcalfe, A., Vekved, M., Tough, S. C. (2014). Educational Attainment, Perception of Workplace Support and Its Influence on Timing of Childbearing for Canadian Women: A Cross-Sectional Study.Maternal and child health journal,18(7), 1675-1682. Smith, C. A. (Ed.). (2014).Regional analysis: Economic systems(Vol. 1). Academic Press. Ward, P. (2017). History of Marriage and Divorce. The Canadian Encyclopedia. Retrieved 31 January 2017, from https://www.thecanadianencyclopedia.ca/en/article/history-of-marriage-and-divorce/

Economic Development free essay sample

Nigeria as a developing economy cannot achieve full development without the contribution of the small and medium scale enterprises (SMEs). In most developed economies, the main stay of their economy has been attributed to the effectiveness of the small and medium scale enterprises (SMEs). Small and Medium Scale Enterprises (SMEs) is accepted globally as a tool for empowering the citizenry and economic growth. It has been associated with the rapid economic growth of countries in Asia and North America. In Nigeria efforts have been made by successive governments to reduce poverty and accelerate economic growth by increasing foreign direct investment, diversifying the economy, enacting policy frameworks which favor small business ownership and sometimes initiating employment and entrepreneurship programs. Nigeria as a developing economy needs the contribution of the small and medium scale enterprises (SMEs) to be able to become one of the twenty most industrialized economies by the year 2020. Therefore, the problem is to critically examine the role of the small and medium scale enterprises (SMEs) in the growth nd development of the Nigerian economy. We will write a custom essay sample on Economic Development or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The role of Small and Medium Scale Enterprises in facilitating the economic development of any country cannot be underestimated. In Nigeria, for example, SMEs provide an average of 50 per cent of Jobs and same proportion of industrial output. Experts say that the SME sector, can thrive in Nigeria, if the government can address the challenges of poor infrastructure, lack of financing, multiple taxation and inconsistent government policy. The Africa Economic Analysis reported that, The proportion of Nigerian SMEs and heir impact on the economy is pretty much, similar to those in other countries of the world, especially in the advanced economies. There are approximately 23 million small businesses in the United States. These altogether employ more than 50 per cent of the private workforce, and generate more than half of the nations Gross Domestic Product. In the European Union, SMEs are seen as largely essential for European employment. Each year, one million new SMEs are set up in the European Union. SMEs account for 99. 8 per cent of all companies and 65 per cent of business turnover in the European Union. The Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Alhaji Muhammad Umar, at a recent forum in Abuja said that the agency targets to develop a minimum of 10,000 small businesses which will in turn generate about one million Jobs annually. This study will attempt to denne what constitute small and medium scale enterprises (SMEs) from different authors, the challenges being faced by SMEs in Nigeria, the role of government in promoting the development and growth of SMEs, the role of financial institutions, and to also look at the role of the small and medium scale nterprises (SMEs) in the growth and development of the Nigerian economy. REFERENCES Central bank of Nigeria 2003, Seminar on small and medium industries equity investments scheme (smieis) publication of CBN Training Centre, Lagos. Edit Iukacs, 2003, The economic role of SMEs in world economy, especially in Europe, institute of business sciences, university of miskolic, Hungary. Normah M. A. 2005, SMEs: Building block for economic growth, Kuala Lumpur. Rotimi 0. , 2006, 6th African venture capital association conference, Dakar, Senegal.

Was Stalin the Most Successful Candidate to Succeed Lenin free essay sample

Stalin was not the most likely candidate to succeed Lenin. By looking at the facts and the background history of Stalin, it is quite clear that he was not the favoured candidate. The cons outweighed the pros and numerous reasons such as Lenin’s testament, Stalin’s poor revolutionary record, not being an intellectual thinker and being a dull and uninspiring person all led Stalin to being a less favoured candidate. Lenin was the overall leader of communist Russia, and was very well respected. His word was law, and they carried weight in the party. Therefore, Lenin’s testament would have made the party biased against Stalin due to the fact that he criticises Stalin by calling him â€Å"rude† and by mentioning that he proposes â€Å"the comrades to find a way to remove Stalin from that position and appoint to it another man who greatly differs from Stalin. † By mentioning such a thing makes it clear that Lenin does not think highly of Stalin for he wants to remove him, and if Lenin, the great leader of the Communist party does not want Stalin as secretary for he believes he holds too much power, then surely being the leader of the Communist party is more power than Stalin needs? Stalin was not a revolutionary man with people such as Trotsky having a far greater revolutionary record than him. We will write a custom essay sample on Was Stalin the Most Successful Candidate to Succeed Lenin? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He was a man of little initiative and preferred to take on the role of a follower rather than that of a leader. This would have been a problem for the party required someone with initiative and great leadership to steer Communist Russia in the right direction- something which Stalin lacked. He was also not an intellectual thinker. This was a bad thing, for being an intellectual thinker was one of the qualities the party looked highly upon. To be an intellectual thinker meant that you would be able to lead Russia into great heights and prosper, so for Stalin to fall short upon such qualities did little to improve his favour. By being from the South, the opposing parties could argue whether or not Stalin should be able to lead, for he lived near the Turkish border. Therefore, Stalin could be criticised for not truly being Russian, and Communist Russia required a Russian leader. Stalin also had a few bad qualities such as being dull and uninspiring. He was unable to rouse up crowds in the way Lenin and Trotsky were able to, so the party deciding who would take over after Lenin may have feared that the public would not take Stalin seriously if he could not win the crowds over. Then there was the fact that there were better candidates than him. Bukharin was more popular than Stalin, with Lenin calling Bukharin â€Å"the favourite of the whole party† and Trotsky was widely seen as the no. 2- the person most likely to take over after Stalin. However Stalin did have some chances of being chosen. He had the appeal of the Politburo party, as he was responsible for the recruitment, appointment and promotion of Party members. This would have led to the Party members being grateful to Stalin and so would have backed him as a candidate due to it. Then there was the fact that Stalin was the secretary to the Communist party, and had control over all the inner workings. This meant that he was able to make things go in his favour, by not informing his competitors about important things. This was seen in the case of Trotsky, where Stalin told him the wrong date for Lenin’s funeral, causing Trotsky to lose favour from some of his supporters. Lenin Enrolment was also a key factor. As Stalin was in charge of Lenin Enrolment, he was able to choose who was enrolled in the Communist Party. By recruiting 50, 000 members, Stalin undoubtedly had a good chance of winning, for like with the Politburo party, the party members would have been grateful, and would, in theory, have backed him as the leader. Stalin also had the ‘common touch’, meaning he would be valued by the proletariats as they would see him as an ordinary man. By having such a quality, it would have gained him a higher percentage of support amongst proletariats as they would have classed him as their own. Stalin was also a cunning and highly political man. These would have been good qualities to have, for Communist Russia was based on a series of politics. Therefore, a leader with prior knowledge of what the politics were would have undoubtedly have been helpful. By being cunning, it would have also allowed Stalin to have a chance, for he would have used his cunning to make his opponents seem like bad choices- which would have put him in a good limelight. Then there was the fact that Stalin did not choose any â€Å"wing† such as Bukharin and Trotsky. By being in the centre, Stalin did not alienate any side, and by contrast, was able to gain much more allies than that of Bukharin and Trotsky. However, judging on Stalin’s qualities, and the background history of the other candidates, it is clear that though he may have been a good candidate, he was not the most likely candidate to take leadership. With Bukharin and Trotsky being more favoured, it is easy to assume that they would have had the most votes.

MLK - I have a Dream essays

MLK - I have a Dream essays Martin Luther Kings I Have a Dream delivers a powerful message driven by dreams of brotherhood and equality. The speech not only appeals to the same dreams shared by his listeners but also to their sense of reason and understanding that their goal is to right and undeniable wrong. Through different analogies and historical references, Dr. King is able to create a stirring and emotional speech sure to bring out the best in all who listen to it. King goes to great lengths to draw valid comparisons between the Negros plight and, of all things, banking. By doing this, Dr. King is able to simplify what could be construed as a complex argument into the basic process of cash(ing) a check. However, in the Kings speech, the person giving out the check is America and, much to his and the Negro peoples discontent, the check is being returned for insufficient funds. King believes that once the check can be cashed, the Negro people will be able to demand the riches of freedom and security of justice. King continues to make more analogies when he begins to draw comparisons between freedom and nature. King believes that that black people should rise from the dark and desolate valley of segregation to the sunlit path of racial justice. This is an appeal to those not in the fight to rise up and begin demanding justice. No one should have to live their lives in a desolate valley but rather should escape the quicksands of racial injustice and climb the solid rock of brotherhood. King even goes on to describe the racial climate as a sweltering summer which will not pass to autumn until freedom and equality are there for all to share. This can be seen as a warning to the movements opposition that, yes, the Negro people are infuriated and will fight, though peacefully, until justice has rained down acros...

Iron Ore Dissertation Example | Topics and Well Written Essays - 3750 words

Iron Ore - Dissertation Example However, most of the reserves that harbor such natural ores have now been depleted. Pig iron is made out of iron ore. This pig iron is one of the main raw materials used in the making of steel. Iron ore is believed to contribute more to the global economy than any other commodity in the world. Hematite is the main iron ore in the Brazilian miles (Axinn 2006). In the global world, metallic world is virtually unknown. It is the fourth most abundant element in the world, though, silicate or carbonate minerals are the vastest minerals. Formidable and extremely energy intensive barriers often are used to separate supremely pure iron from other minerals (David 2006). Before the industrial revolution, most of the iron used was obtained from goethite, which was widely available. Societies during the pre historic times used laterite as the main source of ore. Most of the iron ore used by the emergent industrialized societies was obtained from haematite. These deposits are often called the nat ural ores. The increased iron ore demands in conjunction with the depletion of the most high quality haematite in the United States of America led to development of low quality sources of iron. This happened especially after Second World War. These lower sources of iron require beneficiation to improve on their quality. Magnetite on the other hand, is used due to its magnetic properties. Therefore, it is able to be separated easily from other minerals and was able to produce high quality concentrate with minimal impurities. The mining of these iron ores vary considerably with the type of ore that is being mined. Currently, there are four types of ores of iron being worked on. The business of mining ore is often a low margin one due to the significant low level of iron than other base metals. It is expensive to mine, meaning it is extremely capital intensive. It requires a heavy investment in infrastructure such as rail transport in order to transport the ore from the mining sites to the freight ship. Therefore, mining of ore is concentrated among the majority few. The world leading and largest iron producer is Brazil. This mining corporation is referred to as vale. Other developed countries follow the line due to the high costs involved in the mining and transportation of the ore. My research question arises from my curiosity to find out how iron ore is produced, consumed and distributed in the global market. This is because I understand that the cost involved in its mining process and transportation is quite high. Therefore, I would like to find out how extreme the ore is mined and the processes used in the mining process (Edward 2007). Executive Summary This research is concerned with the production, consumption and distribution of iron ore globally. In other words, it seeks to show candidly the cycle of iron ores from its mining and separation from impurities until the moment it is processed and distributed to the global market for various uses. The researc h shows all the methods used in extraction of these iron ores and how it is separated from other metallic substances or impurities. It also reveals research rationale that is used in carrying out my research. In addition, this research paper has addressed my research question based on the prevailing international market and all the key findings that emerge (Institute 1997). Moreover, the methodology I use to address the research question is emergent in the research paper. The paper

Financial and monitoring strategy Essay Example | Topics and Well Written Essays - 750 words

Financial and monitoring strategy - Essay Example The new Office and Finance Manager has proposed the following financial and monitoring system with special attention to the legal and tax information requirements of ATO. As Real-time is registered for paying both GST and PAYG, the company is liable to maintain and provide records pertaining to tax calculations. These records should be kept for a minimum of 5 years as per legal requirements. As the company registered last year for payment of both these taxes, it is proposed that back up copies of accounting records and information listed as below to be kept in both hard copy forms as well as in soft copies written to CDs. As Real-time is currently having a computerized accounting system with customized business software, it is not a difficult task to acquire the necessary information and reports. However there is a marked lack of procedures for maintaining some of the above records and proof of information such as cheque stubs, deposit slips and credit card dockets. At most times, these items are discarded at month end or misplaced without being file and kept for record keeping. As such it is proposed that a record room be allocated separately for safekeeping or accruing records, bearing in mind the minimum five year requirement for maintaining business records to meet legal requirements. Investment in a low range server is also proposed so that the company’s computer system can be updated and all personnel be linked via network connections. This upgrading will also facilitate the implementation of the fleet tracking and monitoring software program proposed in a bid to minimize idle times, and other costs associated with ineffective delivery activities. As GST is payable on the service bills of Real-time, the GST component of 10% of bill value will be recorded in all invoices. The invoicing system has been already adjusted to carry out this task and the GST payable component is calculated automatically by

Financial accounting Essay Example | Topics and Well Written Essays - 1250 words

Financial accounting - Essay Example It is headquartered at Dearborn, Michigan, USA. The company has remained under family ownership ever since (Bender, Slade, and Thorpe, 2009, p. 4). Ford Motor conducts its business in two different business segments namely, automotives and financial services sector. This report entails about the assets utilised by the company to carry on its business activities. This report also analyses the technological and other means through which the organisation generates revenue out of its assets. The process of asset valuation used by Ford Motors has also been included in this study. Finally the various sources of funds utilised by the company to conduct its operational activities have been discussed in this study. Assets The consolidated balance sheet of Ford Motors Company includes various types of assets owned by the company. Some of those items are: cash and cash equivalents, marketable securities, finance receivables, investment in operating leases, inventories, property, deferred income taxes and intangible assets. As at 31 December 2011, Ford Motors had $18,618 million as marketable securities (Ford Motor Co., 2012). Marketable securities are a form of assets which helps in storing excess cash that can help to generate return for the company (Fabozzi, and Peterson, 2003, p. 645). Ford Motors is found to have invested in the marketable securities of automotive and financial services sector. Total assets of the company in the form of investment in operating leases were $12,838 million as on 31 December 2012 (Ford Motor Co., 2012, p. FS-4). Those operating leases mostly consisted of lease contracts for vehicles with all its different types of existing customers. Accounts receivables are mainly in the form of finance receivables which amounted to $69,976 million as at 31 December 2011. Other receivables amounted to $8,565 million (Ford Motor Co., 2012, FS-4). The finance receivables correspond to the automotive and financial services sector. The notes receivables in the automotive sector are primarily related to the purpose of restructuring the businesses of the company and loans with the suppliers. Ford Motor Credit Company LLC which is a wholly owned subsidiary of Ford motors offers different types of automotive financing products all around the world. Ford Credit's business activities mostly consist of supporting its dealers and financing the vehicles. This results in a large portfolio of leases and finance receivables for the company. The total inventories of the company as at 31 December 2011 were $5,901 million (Ford Motor Co., 2012, FS-4). The inventories of the company consisted of raw materials, work-in-process and supplies which amounted to $2,847 million at the end of the financial year 2011. The finished products amounted to $3,982 million and total inventory is calculated as $5,901 million after adjusting on the basis of (Last in First Out) LIFO. Thus the inventories of Ford motors are lean in nature because they follow the build t o order strategy (Ford Motor Co., 2012, FS-38). The inventories of the company which is primarily the service part obsolescence amounted to an ending balance of $249 million as at 31 December 2012 (Ford Motor Co., 2012, p. FSS-1). Use of Technology and Revenue Generation Revenues are recognised by the companies in United States mostly in accordance with the US GAAP (Nikolai, Bazley, and Jones, 2009, p. 931). Revenues from the automotive business segment of Ford Motors are generally generated through sales of automobiles and its accessories. Revenues are recorded in the books of account of the company only after the risks and rewards of ownership related to the products are completely transferred to its