Gender Inequality And The Corporate World How Do You...

Gender Inequality in the Corporate World How do you feel about women holding higher positions within corporations? In today’s society, there are several inequalities between women and men. These inequalities between women and men have been around since the beginning of time and will always be a factor. Gender inequality can be seen in many different ways across our society today. One major area that this inequality can be seen is in the workforce. There are many women who have jobs in today’s society, but there are not a lot of chances for women to obtain higher positions. Women do not receive the same chances to hold high positions within corporations as men do. Women who are in the workforce are constantly having to choose between work and family. Women also feel the need for whole-self authenticity, which means that one is true to one’s own personality and character even against external pressures. In this scenario, people are themselves at work as the y are in their private life. Gender inequality in the workplace is a serious issue that affects women socially, economically, and physically. Gender inequality is the unequal treatment of individuals based on their gender. Ensuring gender inequalities in the workplace would include equal pay among men and women for the same type of job performed. Another type of equal treatment is the removal of any barriers so women can participate equally in the workforce. Allowing women full access to all occupations,Show MoreRelatedeffect of workforce diversity on employee performance in anorganization6665 Words   |  27 PagesREVIEW 6 2.1 INTRODUCTION 6 2.2 THEORETICAL REVIEW 6 2.2.1 SOCIAL IDENTITY THEORY 6 2.2.2 EXPECTATION STATE THEORY 7 2.2.3 SOCIAL EXCHANGE THEORY 8 2.3 EMPIRICAL REVIEW 10 2.3.1 Gender 10 2.3.2 Age 11 2.3.3 Ethnicity 12 2.3.4 Education background 13 2.4 CONCEPTUALIZATION 15 2.5 OPERATIONALIZATION 16 2.5.1 Gender 16 2.5.2 Age 16 2.5.3 Ethnicity 16 2.5.4 Educational background 16 CHAPTER THREE 18 3.0 RESEARCH METHODOLOGIES 18 3.1 Introductions 18 3.2 Research design 18 3.3 Target populationRead MoreGender Pay Gap14271 Words   |  58 PagesIntroduction * Overview * Background * Current Situation * Outlook * Pro/Con * Chronology * Short Features * Maps/Graphs * Bibliography * The Next Step * Contacts * Footnotes * About the Author * * Comments | Gender Pay Gap | Are women paid fairly in the workplace? | March 14, 2008 †¢ Volume 18, Issue 11 | By Thomas J. Billitteri Introduction Former Goodyear manager Lilly Ledbetter won more than $3 million in a pay-discrimination suit against theRead MoreMulticultural Education in a Pluralistic Society21691 Words   |  87 Pagesthan 90% of the previous graduating class had enrolled in postsecondary programs. It was a pleasure to work with a team of teachers who planned interesting lessons based on a constructivist approach, engaged students in the content, and developed higher-order thinking skills. After a few years, Mr. Juarez decided that he was ready to take on the challenge of an inner-city school where most students were members of oppressed groups. As soon as he stepped into his new school, he realized that he hadRead MoreFemale Leadership Advantage and Disadvantag9375 Words   |  38 PagesPsychology of Women Quarterly, 31 (2007), 1–12. Blackwell Publishing, Inc. Printed in the USA. Copyright C 2007 Division 35, American Psychological Association. 0361-6843/07 FEMALE LEADERSHIP ADVANTAGE AND DISADVANTAGE: RESOLVING THE CONTRADICTIONS Alice H. Eagly Northwestern University In the United States, women are increasingly praised for having excellent skills for leadership and, in fact, women, more than men, manifest leadership styles associated with effective performance as leaders. NeverthelessRead MoreStarbucks Entering Italy10612 Words   |  43 PagesConsulting Report: Starbucks entering Italy Table of Contents 1. Introduction. 2 2. Starbucks Corporation. 2 2.1 History of Starbucks. 2 2.2 Strategy of Starbucks. 3 2.3 Starbucks’ international expansion. 3 3. The Italian Environment. 5 3.1 General information. 5 3.2 Trade barriers. 6 3.3 Political and legal environment. 6 3.4 Social considerations. 8 4. The Italian CultureRead MoreEpekto Ng Polusyon19213 Words   |  77 PagesDomestic violence: Moving On A Qualitative Investigation Exploring How women Move On From Violent Relationships Researcher: Carole Le Darcy Supervisor: Dr Sue Becker Acknowledgements I would like to express my sincerest thanks and gratitude to all of the exceptionally strong women that participated in this research that have freely given not only some of their precious and valuable time but have also revealed that which is sadly all too often concealed; the remarkable, courageous and oftenRead MoreQuiz Study Help Essay5178 Words   |  21 PagesSOCI315 QUIZ INFORMATION Quiz 2 Week 4 Part 1 of 1 - 50.0 Points Question 1 of 20 2.5 Points Dr. Marvin Harris believes that people do cultural things for A.primarily practical reasons B.primarily traditional reasons C.primarily religious reasons D.All of the above E.Only b and c Answer Key: A Question 2 of 20 2.5 Points Muslim and Jewish dietary laws are very similar. The most likely theory is: A.they are spiritually and doctrinally very close B.they both aroseRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 PagesGrowth in a Demanding Economy 1 1 Text Jones−George †¢ Contemporary Management, Fourth Edition I. Management 17 17 2. The Evolution of Management Thought Hughes−Ginnett−Curphy †¢ Leadership, Fifth Edition I. Leadership is a Process, Not a Position 51 51 70 1. Leadership is Everyone’s Business 2. Interaction between the Leader, the Followers the Situation Cohen †¢ Effective Behavior in Organizations, Seventh Edition 11. Leadership: Exerting Influence and Power 94 94 Text Palmer−Dunford−AkinRead MoreInternational Management67196 Words   |  269 Pagesblank Preface C hanges in the global business environment continue unabated. The global financial crisis and economic recession have challenged some assumptions about globalization and economic integration, but they have also underscored the interconnected nature of global economies. Most countries and regions around the world are inextricably linked, yet profound differences in institutional and cultural environments persist. The challenges for international management reflect this dynamismRead MoreSales and Marketing for Financial Institutions80443 Words   |  322 PagesTOPIC 6 TOPIC 7 TOPIC 8 TOPIC 9 INTRODUCTION DISCLAIMER These materials are issued by Kaplan Higher Education on the understanding that: 1. Kaplan Higher Education and individual contributors are not responsible for the results of any action taken on the basis of information in these materials, nor for any errors or omissions; and 2. Kaplan Higher Education and individual contributors expressly disclaim all and any liability to any person in respect of anything and of

UK Economic Policies - 1090 Words

UK Economic Policies An analysis of the latest figures for key economic indicators and the factors which have affected these indicators. This should include the figures for unemployment, inflation and economic growth. Unemployment The unemployment rate is a good indicator of the overall economic health of a country. When unemployment is high this generally indicates a weakened economy with many people out of work. Unemployment is also related to the inflation rate. When inflation is high then unemployment is typically lower because more people have to work since the money they have is worth less. When inflation is lower then people have less of an incentive to trade their labor if they already have some wealth accumulated. However, there are also exceptions to this trend. Currently in the UK the inflation rate is slightly over seven percent (7.2%) which is relatively high (Office for National Statistics, 2012). The rate was even higher in previous years due to the recession and therefore it has made progress. However, there are far more part time workers now than there were previously. More people have been forced to leave a full-time position and accept part time work because companies have downsized their work force due to the falling demand caused by the recession. Many companies will move people from full-time to part time to save on their payroll expenses. Therefore the actual unemployment rate may not fully represent the state of the economy since there areShow MoreRelatedEconomic Growth and Public Policy of the Uk: Does the Protectionism Help?2525 Words   |  11 PagesEconomic Growth and Public Policy of the UK: Does the protectionism help? Introduction The effects of globalization have touched all the aspects of life and business today. One aspect is the trading policies between countries. Since the late nineteenth century, the collision started between domestic and foreign industries, which ask governments for measures that could protect local industries, without discouraging the country’s trade relations. The term ‘Protectionism’ was thus introducedRead MoreThe Conservative Approach to State Intervention after 1979 the Labours Response Since 19971395 Words   |  6 PagesThe conservative approach to state intervention post 1979 has been on the whole to go for the minimum as is illustrated in their economic policy and this was included in their critique of government economic policy at that time. On the whole the government felt that levels of state intervention were far too high in regards to the economy which led to various negative consequences such as making industry uncompetitive and laid back since the government would bail them out at the first sign of smokeRead MoreSocial Policy Within The Global Economy1935 Words   |  8 PagesWhen discussing social policy within the current global economy, it’s quite impossible to ignore the effects of globalisation on nation states but also in the overall global economy in relation to poverty, environmental changes, trade, culture etc. Globalisation is a highly contested term due to its broad definition which causes confusion as to what it actually means (Gills, 2002; Higgot, 1999). Yeates (2002) refers to globalisation as the loosening of boundaries of things such as trade, labourRead MoreStudy And Communication Of Business2989 Words   |  12 Pagesprovides the most important significance in the process of the economy of the UK. The aspect of UK economy which provided by the times and actions which has been stated in the video shows the economic fluctuation as well as economic stability on the context of the different part o f the organizational change. In the first video link which provides the brief discussion in the UK economy provides the application of the UK economic stability which is seen over the time period. The most crucial part of theRead MoreDiscuss how far recent UK economic policy has been successful in achieving the macroeconomic objectives1165 Words   |  5 Pagesï » ¿Discuss how far recent UK economic policy has been successful in achieving the macroeconomic objectives. The four main macroeconomic objectives are: full employment, price stability (low and stable inflation), sustainable economic growth, and a healthy Balance of Payments. A diagram showing unemployment and jobseekers allowance in the UK: On the diagram shown above, unemployment within recent years (2008-2013) is seen to be increasing. In 2011 unemployment peaked at 2.6 million which aroundRead MoreIndividual Case Analysis And Presentation Essay9286 Words   |  38 Pagespromotion commission, UNCTAD, World bank, Africa Development Bank. The interview was conducted with individual in strategic positions within the case companies. The fieldwork and data collection took place between December 2014 and April 2016 in London (UK), Abuja, Lagos, and Owerri Nigeria. A case study design is adopted in this thesis because of the contemporary nature of the phenomenon under investigation and case study research also provides the platform for theory development and expansion, especiallyRead MoreEntrepreneurship in Pakistan20067 Words   |  81 PagesInstitute of Development Economics, Islamabad PAKISTAN INSTITUTE OF DEVELOPMENT ECONOMICS ISLAMABAD 2 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means—electronic, mechanical, photocopying, recording or otherwise—without prior permission of the author(s) and or the Pakistan Institute of Development Economics, P. O. Box 1091, Islamabad 44000.  © Pakistan Institute of Development Economics, 2007. Pakistan InstituteRead MoreAssess the Likely Impact of Uk Government Labour Market Policies on Any Three Macro-Economic Objectives. Refer to the Information and to Your Own Knowledge703 Words   |  3 PagesAssess the likely impact of UK Government labour market policies on any three macro-economic objectives. Refer to the information and to your own knowledge (30) Labour market policies are government programmes that intervene in the labour market to help the unemployed find work. The three macro-economic policies I am going to look at are: full employment, steady sustainable economic growth and low inflation. Full employment is the point in an economy, where everyone who is willing and able to workRead MoreMicroeconomics Essay- Suppose the Government Raises the Legal Drinking Age in the Uk from 18 to 21. Conduct an Economic Analysis of This Policy to Examine Its Impact on Affected Markets.1260 Words   |  6 PagesSuppose the government raises the legal drinking age in the UK from 18 to 21. Conduct an economic analysis of this policy to examine its impact on affected markets. With reference to the above statement, if the UK government were to increase the legal drinking age from 18 to 21 there are two markets that would mainly be affected- the producers, which is the alcohol industry as a whole and the consumers who are the UK citizens between the age of 18 and 21. A market is a group of buyers and sellersRead MoreEconomic Integration and Global Markets to Uk Business Organizations1735 Words   |  7 PagesThe importance of international trade---------------------3 Economic integration and global markets to UK business organizations-----------------------------------------4 The impact of two policies of the European Union on UK business organizations------------------------------------5 The impact of fiscal policies on the UK business------------5 The impact of monetary policy on the UK business---------6 The economic implications for the UK of entry into EMU--------------------------------------------------------------------6

Jurisprudential Theories on IPR - 13115 Words

According to Article 27 of the Universal Declaration of Human Rights, everyone has the right to the protection of the moral and material interests resulting from any scientific, literary or artistic production of which he is the author.[32] Although the relationship between intellectual property and human rights is a complex one,[33] there are moral arguments for intellectual property. The arguments that justify intellectual property fall into three major categories. Personality theorists believe intellectual property is an extension of an individual. Utilitarians believe that intellectual property stimulates social progress and pushes people to further innovation. Lockeans argue that intellectual property is justified based on†¦show more content†¦Hegels remarks on intellectual property were printed as part of his Elements of the Philosophy of Rights, a book that was based on the lectures he gave at the University of Berlin between 1818 and 1831. The document presented in our digital archive is a private copy of the first print edition of 1821 that was annotated by Hegel himself for use in subsequent lectures. In Hegels view, property is something that enables the exercise of subjective freedom rather than a consequence of civil liberties. Thus, literary property is also a manifestation of a persons free will. Hegels concept of individual, personal rights as a basis of copyright was influenced by Kant and Fichte and had some bearing on the later theories of Gareis, Gierke and Bluntschli, even if Hegels legal theory was not referred to generally by German jurists in the second half of the nineteenth century. There are 3 golden rules and passes when it comes to intellectual property and how important it is. Intellectual property is an extension of individual property. As humans, we tend to be in favor of things that will benefit us, obviously. On the other hand, I also believe that promoting the creation and dissemination of intellectual works produces an optimal amount of social progress. Personality theorists maintain that intellectual property is an extension of individual personality.

Coaching and Mentoring - 3507 Words

Foundation Design: Coaching and Mentoring Introduction Organisations are increasingly evolving quicker due to globalisation and advances in industries and technology. These events have made market environments progressively more competitive and have changed the economic climate in which organisations operate. Unfortunately some organisations have had to implement restructures and reductions in workforce to ensure survival. Foundation Design are one of these organisations whose company size has gone from 1,513 employees to 780 employees. During the restructure of the organisation the Chief Executive Officer (CEO) identified that changes were required to its leadership profile and coaching and mentoring programmes. These changes†¦show more content†¦Foundation Design must also ensure that they set clear targets that will ensure the achievement of organisational objectives. By setting targets and objectives it will also allow measurement of the effectiveness to take place, which again will protect investments made. By provid ing coaches to its executives and senior leaders organisations are showing them the benefits of coaching in the hope that this will transfer down into the organisation. This has been seen in Kellogg’s Europe, who developed their coaching practices to senior level from middle and junior management. Kellogg’s experienced a renewed investment in coaching as senior managers were enthused by the coaching they had received and the benefits of having a coach themselves. This new enthusiasm towards coaching has spread throughout the organisation and it could be suggested will have a positive impact on performance and organisational effectiveness (Clutterbuck and Megginson, 2005). Often there is reluctance from managers ‘who has no time or inclination for coaching others having an epiphany as a result of being on the receiving end of effective coaching’ (Clutterbuck and Megginson, 2005, pp. 50). It could be suggested that Foundation Design may experience some negativity towards the refocus on coaching due to the bad experience they have previously experienced with external coaches, it could be suggested that Foundation Design are displayingShow MoreRelatedCoaching and Mentoring974 Words   |  4 Pagessuffer a loss because their employees were not well-equipped to handle specific situations. And because of this, mentoring and coaching have become a very strategic manner in which organizations train and manage their employees. In such a setting, the atmosphere is more personal as opposed to a seminar and it is quite helpful as some cases have attested to it. The goal of mentoring is to be able to encourage an organization s employees to further improve themselves and the skills that they haveRead MoreCoaching and Mentoring2123 Words   |  9 PagesSolutions to coaching and mentoring a large UK-based customer facing organisation over a two year period and beyond Introduction The chartered Institute of Personnel and Development in the UK (CIPD 2009) reports that 79% of survey respondents are using coaching within their organisation and that 77% say coaching has been increasing in recent years. It is therefore no surprise that the large UK-based customer facing organisation, where I am hypothetically working as a human resources managerRead MoreCoaching and Mentoring1989 Words   |  8 PagesIntroductions The use of coaching and mentoring is on the rise within the workplace. Several organizations have adopted the process of coaching and mentoring as development tools to develop those employees who are seeking future advancement. Also, they are setting the foundation for future leaders. The adaption of these developmental tools within an organization is providing employees with the necessary feedback and support to establish and plan their career. Coaching and mentoring provides an employeeRead MoreA Review On Coaching And Mentoring1850 Words   |  8 Pagescomprehensive review of coaching and mentoring and how it can be implemented in a variety of settings and for multiple purposes. It is evidenced based and requires the reader to think differently about coaching and mentoring. The authors go beyond the research in challenging the reader to pay attention to the wider implications of coaching and mentoring. In the second part of the book, there are strategies to overcome and em brace influences that can affect the coaching and mentoring process. This bookRead Morecoaching and mentoring Essay4634 Words   |  19 Pagesï » ¿416:- The coaching and mentoring roles The word mentor comes from the The Odyssey, written by the Greek poet Homer. As Odysseus (Ulysses in the Latin translation) is preparing to go to fight the Trojan war, he realises he is leaving behind his one and only heir, Telemachus. Since Telemachus is only of primary school age, and since wars tended to drag on for many years, Odysseus recognises that Telemachus needs to be coached on how to be king whilst he is off fighting. He engages a family friendRead MoreDefinition Of Coaching And Mentoring2538 Words   |  11 PagesDefining Coaching and Mentoring The concept of coaching originated in the context of sport however has been applied within the business environment throughout the past twenty years. This paper will define and critically assess coaching and mentoring, consider how it is applied within the Northern Ireland Road Safety Partnership (The Partnership) and recommend a strategy for implementing a coaching culture within the organisation. In addition it will reflect upon the authors approach to developmentRead MoreCoaching and Mentoring - Compare and Contrast884 Words   |  4 PagesQuestion Compare and contrast the similarity and differences in coaching and mentoring? Answer - Coaching and mentoring are a popular tools and they results in a good capacity building practice. Coaching and mentoring provide opportunity for organisation and to introduce its issue without any threatning Coaching means helping another person to improve awareness, to set and achieve goals in order to improve a particular behavioural performance andCoaching is an on-going professional relationshipRead MoreEssay Comparing Mentoring and Coaching1642 Words   |  7 PagesComparing Mentoring and Coaching There are some key differences between mentoring and coaching. Mentoring- is known as the transfer of wisdom and has a protà ©gà © or mentee that takes an interest in their career path. The protà ©gà © is guided and advised by the mentor who has worn the same shoes and traveled the same path, usually someone older and wiser. The mentor guides, persuades, and encourages a person to reach their full potential in life, in a position in an organization or in a careerRead MoreCareer Resume : Coaching And Mentoring911 Words   |  4 PagesCoaching and mentoring are two critical factors that many companies provide and employees seek. Experts who are with much experience in one field can give younger employees astute advice and tips. However, not everyone really understands the meaning of a career coach, and not everyone is good at finding a suitable career coach. In order not to waste our time and money, we should understand some basic rules and information about career coaching. It is a tough job market out there for both job seekersRead MoreMentoring, Coaching, Consulting, And Counseling1013 Words   |  5 Pageseffective depending on the situation. Client’s needs are important to identify, reason being is so you can decide what form of help is the best fit. In this essay, I will discuss mentoring, coaching, consulting, and counseling. I will provide examples of each and explain why each form is effective for each scenario. Mentoring is described as having experience or expertise in a field that you use to help someone with less experience/expertise (Welsh, E. T., Dixon, P. M.,2016). John just started a new

New India Free Essays

The hit-film slumdog millionaire is a well-known film about three children from the slums. Many people have watched this film, and although its storyline is thrilling, the perceptions it gives about India as a whole being poor and dirty and that everyone is a thief, killer or prostitute are misleading; although the slums are poor and dirty, not everyone in India lives in a slum. Not everyone who does live in a slum is a thief and will do anything for money, and many people in India are well-enough off and have ‘normal’ lives like the western world does. We will write a custom essay sample on New India or any similar topic only for you Order Now Fashion is becoming a huge part of New India and the western fashion is becoming more and more popular than traditional Indian clothes. India’s fashion imports are rising by 11% a year. This shows that India’s economy is expanding because the country can now spend money on luxury clothing like Gucci and Giorgio Armani where as before they could not. 350 million Indians also speak English as well as their native language and as English is the world’s main trading language; this means that they can easily trade and communicate with more economically developed countries (MEDCs) who can help them develop. India is a huge part of the IT industry; 40% of the world’s IT industry is based in Bangalore. This and other factors mean that India’s economy is rapidly expanding. You may have heard it said that India is at the centre of the world and this is true geographically and economically. India has had an open economy since 1991, meaning that Trans-national companies (TNCs) can set up centres and factories there. This generates a lot of income for India as 30 major multi-national firms like Lloyds TSB have Indian call-centres and lots of TNCs like Chanel and Coca-Cola have factories there. India is an attractive place for TNCs to set up a factory because in India there are over 1. 1 billion people and a high percentage of these people are of legal working age. Many of these people work for little amounts of money meaning that the TNC will get more. The factories that are being built in India are creating lots more jobs for people to work in. These jobs are being created in the city so many people who live in rural areas and do farming work, are moving to the global cities like Bangalore and Mumbai. An example of one of these people is Ganesh RC who moved from a rural area of India to Bangalore and is now the manager of the Royal Habitat Hotel. Ganesh says that globalisation and the building of factories in cities means that his hotel is getting more customers and money. Ganesh also told us that the traditional Indian food which used to be a favourite is now less popular and the children who stay at his hotel just want KFC and pizza all the time so they have to order it in. However although globalisation affects Ganesh positively and his attempt to gain employment and money by moving from his rural home to Bangalore paid off, not everyone’s does. Many farmers and families from rural areas of India move to global cities in the hope of getting a job and then being able to educate their children. However many people find that once they have moved to the city they don’t have the skills required for the jobs available, for example IT skills to work in an IT call-centre or another part of the hugely successful IT industry. Because of this lack of skill that they previously did not require, they cannot work and have no money or house. This leads to them having to live in a slum. The rate at which India’s economy is expanding is causing a great increase in the wealth for many of India’s people. However many people are also being left behind, meaning that the rich and poor live literally side by side and the wealth gap is colossal. In India 300 million people live in absolute poverty in slums and one third of the world’s malnourished children live in India. The quality of life in slums is poor and disease ridden with several hundred thousand children dying each year from dirty water. However in some slums life is better. For example in the Dharavi slums the 19 million people that live there make 700,000 pounds a year from recycling the city’s waste. That’s a lot of money to make from something that other people just threw away! However whether you think that this makes up for the fact that they are living in or right next to the waste, is up to you! India is 12 times the size of the UK; covering over 3. million sq km. This means that throughout the country there is not only a huge difference in wealth and living conditions but also in the landscape. These different environments change how the people there react and survive in them. For example, in India there is a desert outside the city of Jaisalmer in Bikaner but also in India is Cherrapunji which is one of the wettest places in the world, getting 11,000mm of rainfall per year. The people who live in Jaisalmer have adapted to life in the desert and the people who live in Cherrapunji have adapted to rain. In Cherrapunji the people face a lot more problems than in Bangalore because Cherrapunji can often get flooded which means that people can’t get to work or school and also might have their drinking water polluted. This is another example of a place which is facing huge challenges and not really getting much of the advantages or rewards from the expanding economy. [pic] In conclusion, the new India is giving some people huge advantages and more money through providing jobs, using/learning skills and by starting to develop the country generally from a newly industrialised country (NIC) to an MEDC. However most of these advantages aren’t trickling down from the cities to the people who now need it the most and are living in rubbish, by recycling rubbish. In the future it is possible for India to help the people who really need it and overcome the problems facing parts of the country and then they can use advantages that they have by being at the centre of the world to its full extent. New India is fast developing and gaining more money and status but is it leaving people and old traditions behind in order to? How to cite New India, Essay examples

Ijarah Definition of Financial Times Lexicon Sample

Question: The Ijarah contract is said to be similar to conventional leasing. Explain the range of Ijarah-based contracts used by Islamic Financial Institutions. With reference to operating and financial leases discuss the similarities and differences between Ijarah and leasing. Outline how any differences in contract lead to differing accounting treatment of these contracts. Discuss the AAOIFI standards and IFRS recommended accounting treatment of the Ijarah/leasing contracts. Suggest ways of reconciling any variations in interpretation. Answer: Introuction This research paper would explain the concepts, roles and importance of the Ijarah contract in the form of conventional leasing. In adition to this, it should also be noted down that, this research paper would also explain the range of Ijarah-based contracts used by Islamic Financial Institutions. On the other hand, with reference to operating and financial leases, this research paper would discuss the similarities and differences between Ijarah and leasing. At the same time, this rserach paper would also help the readers in understanding that how any differences in contract lead to differing accounting treatment of these contracts. Apart from this, this paper would also discuss the AAOIFI standards and IFRS recommended accounting treatment of the Ijarah/leasing contracts. Finally, this paper would also suggest different ways of reconciling any variations in interpretation. Moreover, it should also be noted down that, this research paper would also be more beneficial, helpful and effective for the readers, researchers and students in understanding a wide range of topics in the area of Islamic finance. At the same time, this paper would also be more effective and appropriate in using concepts of Ijarah contract in the form of conventional leasing. So, this this paper would be more beneficial and effective. Reserach Methods In order to fulfil the research objectives and aims in the context of this paper, secondary source of information are used so that associated outcomes can be achieved in an effective and proper manner. For case, for this research paper, books, research articles, published material, current news etc are used as means of secondary source of information in order to collect the information asocisted with the topics. Ijarah Contract Ijarah contract is the maid of the arabic word ijara that means the providing services and goods temporarily for a wage. It indicates the ijarah contract means providing products and services on a lease or rental term. In the Islamic banking, the ijara contract is given the right to use the object of a person or party for a period of time but the owner retains the ownership of the assets. The ijara contract is similar to a lease in thier the owner rents or leases his property or goods to a lessee for a fee or rent for a specified number of periods (Saleem, 2012). The ijara contract in the Islamic banking is necessary of the same design as an instalment leasing agreement. For example, in ijara contract, th lessor is responsible for najor maintenance in the conventional lease contracts. The Islamic Finance Accounting Standard (IFAS) Ijarah was issued by the Insititute of Chartered Accounts of Pakistan and its notification SRO 431 (i)/2007. IFAS becomes operative for financial ststements covring periods after July 01, 2007. The following features of ijara based lease contract is differentiate from a conventional lease: The lessor must own the assets for the full lease period If the lessee fails to payments or delays payments then the lessor can not have right to charge compound interest (Ahmad, 2009) The leased assets is used by lesser for special perspose that is mentioned in the contract. Ijara is an exchange transaction in which a known advantage emerging from a predetermined resource is made accessible consequently for an installment, however where responsibility for resource itself is not exchanged. The ijara contract is basically of the same outline as a portion renting assention. Where altered resources are the subject of the lease, such can come back to the lessor toward the end of the lease period, in which case the lease tackles the highlights of a working rent and hence just a part amortization of the rented resource's quality results. In an option approach, the renter can concur at the start to purchase the benefit toward the end of the lease period in which case the lease tackles the way of a contract buy known as ijara wa iqtina (actually, rent and possession). A few legal scholars don't allow this last plan on the premise that it speaks to pretty much an ensured monetary return at the beginning to the lessor, similarly as a present day interest-based mone y lease. The terms of ijara are sufficiently adaptable to be connected to the contracting of a worker by a head honcho consequently for a lease that is really an altered compensation (Iqbal Mirakhor, 2011). Some for the most part concurred conditions for ijara are as per the following: The leased item should be exchanged to the resident on consummation of the lease understanding and ought to be of a condition that is fit for execution of the obliged undertakings. The lessor ought to exchange the rented things to the renter in their finished structure. The lessor should transfer the leased items to the lessee in their completed form. The usufruct of the leased item should have value (Ahmad, 2009) The sum and timing of the lease installments ought to be concurred ahead of time, however the concurred timetable and measure of those installments require not be uniform. The lease installment timetable gets to be dynamic upon complete securing of the usufruct of the rented products, whether such usufruct is indeed delighted in by the lessor or not. The time of the lease must be determined. The states of utilization of the rented things must be expressed. The lessor must have full ownership and legitimate responsibility for resource preceding renting it (Eisenberg, 2012). The leased asset must keep on existing all through the term of the lease. Things which are devoured during the time spent utilization, ammo for case, can't be rented. In contrast with most traditional fund rents, the obligation regarding support and protection of the rented thing under ijara remains that of the lessor all through. A cost can't be foreordained for the offer of the benefit at the expiry of the lease. Notwithstanding, lessor and resident may concur the continuation of the lease or the offer of the rented advantage for the renter under another understanding toward the end of the starting lease period (Ayub, 2009). In the occasion generally installment of rental, the ijara may be ended quickly. The lessor may guarantee pay for any harm brought on to the rented resources as an aftereffect of care. In recent times, many Ijarah-based contracts or products used by Islamic Financial Institutions with different combinations of contracts such as ADCB (Abu Dhabi Commercial Bank) offers ijara home financing, as does SABB (Saudi British Bank) Amanah. Moreover, Maybank Malaysian-based institute offers car financing with a combination of an ijara contract and a bai (purchase) contract (Iqbal Mirakhor, 2011). According to the sharia principles, the mainly three types of Ijarah-based contracts or ijara arrangements exist in the Islamic Financial Institutions these are: Lease-ending ownership/lease with ownership (ijara muntahia bitamleek/ijara wa iqtina): In this ihara contact, the leaseholder (lessee) the leased asset at the end of lease period. This contract does not contain any promise to buy and sell the assets at the end of lease period but the bank may offer a verbal promise of transfer of ownership or purchase schedule for the asset (Ayub, 2009). It means in this contract, the leaseholder is also allowed to mke a verbal promis to purchase the asset. In this situation, the purchase price is decided on the basis of market value of the asset or a negotiatible price. Operating lease (operating ijara): Operating lease ijara-based contract does not included any promise related to purchase the asset at the end of the lease contract. Moreover, this ijara contract is the hire arrangement or contract with the lessor only (Mourik Walton, 2013). Forward lease (ijara mawsoofa bil thimma): Forward lease ijara-based contract is a combination of redeemable leasing and construction finance (istisna) agreement. This lease is accomplished for a future date, so it is called forword leasing. Forward lease ijara-based contract purchase the project (generally a construction project) as a whole at its closing or completion (Eisenberg, 2012). Major Differences Between Acciounting of Ijarah and Finance Leasing The below table indicates the major differences in the finance leasing and ijarah leasing: Finance leasing Ijarah Based Leasing Leases are recorded ad financing in the book of lessor (the bank) Ijarah assets are recorded at cost less accumulated depreciation and impairment. Un-earned income such as exceess of the agreegate rentals over cost of the asset are recorded at the inception of lease and amortized over the lease tearm Rentaal from ijarah is only recognized as income on accrual basis. Profision against doughtful debts is calculated on the basis of creterial given in prudential regulations for banks Costs included depreciation is charged to income statement Leases are disclosed net of provision, income suspense and unearned income. Assets leased out should be classified according to its nature and distinguished from the assets in own use such as plant, machinerary, vehicle, etc. Revenue is recorded to the extent of income portion of the rentals based on the manner that produce a constant rate of return. Lessor should make an imparment testing for the asset on a regular basis according to the requirements of IAS 36 (Impairment of assets). (Source: Iqbal Mirakhor, 2011) Differing Accounting Treatment of These Contracts Ijarah accounting policy is the different with the lease accounting that are described in the below: Ijarah Asset Recognistion: All ijarah transactions are to be recorded as Asset Acquired dor Ijarah at sum of all cost incurred through the bank in acquiring the asset. The other terms are: Assets are to be expressed at their cost less accumuled depreciation and impairment if any. Depreciation on asset is to be charged to income applying the method that reflects the pattern in that the asset future economic benefits are expected to be consumed by the bank. In consider of addition and disposal of assets, depreciation of asset will be charged from the month of acquisition till the month of disposal (Ayub, 2009). Revenue recognition: In Ijarah lease contract, rentals are to be recognized as income on accrual basis over the lease period in a systematic manner. Expenses recognise: In Ijarah lease contract, carring costs including depreciation and incurred in earning the Ijarah income are recognized as an income in the owner or bank income statement (Eisenberg, 2012). AAOIFI standards and IFRS Accounting Treatment of the Ijarah The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards and International Financial Reporting Standards (IFRS) recommended of nthe banks, financial institutes and owners regarding the accounting treatment of the Ijarah/leasing contracts. The below table described the key differences of accounting treatment between IFRS and AAOIFI: Item IFRS (IAS 17) AAOIFI (FAS 8) Classification of leases Lease is named a money lease on the off chance that it exchanges generously all the dangers and prizes accidental to possession. A lease is named a working lease in the event that it doesn't exchange generously all the dangers and rewards accidental to proprietorship All leases should be classified as an operating lease. Ijarah ending with an exchange of possession ought to be dealt with as two different exchanges of working lease and deal, and not as a money lease. Leases in the financial statements of lessees At the beginning of the lease term, residents should perceive money rents as resources and liabilities in their announcements of budgetary position at sums equivalent to the reasonable estimation of the rented property or, if bring down, the present estimation of the base lease installments, every decided at the commencement of the lease. The markdown rate to be utilized as a part of computing the present estimation of the base lease installments is the interest rate understood in the lease, if this is practicable to focus; if not, the renter's incremental obtaining rate might be utilized. Any starting direct expenses of the tenant are added to the sum perceived as a benefit (Ayub, 2009). In the event of Ijarah consummation with an exchange of possession, the tenant would perceive lease installments as costs all through the lease term. At the point when the benefit is exchanged to the tenant, the resident would perceive the advantage obtained (Eisenberg, 2012). Leases in the financial statements of lessors Lessors might perceive resources held under a fund rent in their announcements of monetary position and present them as a receivable at a sum equivalent to the net interest in the lease In the event of Ijarah consummation with an exchange of possession, the lessor would show a benefit in its announcement of budgetary position, and perceive lease portions as income all through the lease term. At the point when the advantage is exchanged to the tenant, the lessor may perceive an increase or misfortune on transfer. (Source: Atmeh Abu-Serdaneh, 2012) Recommendations and Conclusion On the bsis of above disucsion, it can be recommended that, there are different ways, strategies, approaches and methods can be used in order to reconciling any variations in interpretation. For example, the analysis about the financial statements or records is one of the most significant methods that can be used in an effective and more significant manner. Along with this, it can also be concluded that, Ijarah Contracts are playing a major role in the development of the Islamic fincial systems (Godfrey Chalmers, 2007). In addition to this, all these are the financial instruments that are also playing a more significant role in the improving the overall growth of Islamic economy in an effecvitve and porper manner. At the same time, it can also be suggested that, the government organizations in the Islamic economic should conduct and provide specific guidleines, rules and regulations so that innovativenes and reliability of such financial instrument can be improved in and effective a nd more significant manner (Ayub, 2009). References Ahmad, A.U.F. (2009) Theory and Practice of Modern Islamic Finance: The Case Analysis from Australia. USA: Universal-Publishers. Atmeh, M. A., Abu-Serdaneh, J. A. R. (2012). A Proposed Model for Accounting Treatment of Ijarah. International Journal of Business and Management, 7(18), p. 49-56. Ayub, M. (2009) Understanding Islamic Finance. USA: John Wiley Sons. Eisenberg, D. (2012). Islamic Finance: Law and Practice. USA: Oxford University Press. Iqbal, Z. Mirakhor, A. (2011) An Introduction to Islamic Finance: Theory and Practice (2nd ed.). USA: John Wiley Sons. Saleem, M.Y. (2012). Islamic Commercial Law. USA: John Wiley Sons. Mourik, C. Walton, P. (2013). The Routledge Companion to Accounting, Reporting and Regulation. UK: Routledge. Monash studies in global movements series Godfrey, J.M. Chalmers, K. (2007). Globalisation of Accounting Standards. UK: Edward Elgar Publishing.