Example Education Essay - Free Essay Example

Sample details Pages: 8 Words: 2451 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? Discuss what is meant by the term GAAP and whether it meets the needs of all UK entities. Introduction Generally accepted accounting principles or GAAP refers to a set of principles, rules, methods and conventions that provides detailed guidelines and procedures for the preparation, presentation and handling financial and accounting cases. Institute of Chartered Accountants in England and Wales (ICAEW) defines â€Å"Generally Accepted Accounting Practice (UK GAAP) as the body of accounting standards and other guidance published by UK Accounting standards Board (ASB)†. In the UK, Financial Reporting Council (FRC) is responsible for setting accounting standards by working closely with national and international accounting standard-setters in order to influence the development of standards. Don’t waste time! Our writers will create an original "Example Education Essay" essay for you Create order In 2009, ASB proposed a strategy for the future of UK/Irish GAAP and its convergence with International Financial Reporting Standards (IFRS). The intention was to work under the IASB framework which provides detailed guidelines and procedures in the need of all UK entities, hence, cease the existence of UK GAAP. The Board’s proposals set out a three Tier system of differential arrangement based upon public accountability. UK entities would need to determine the appropriate framework to transition, as well as the impact of change to their financial reporting, tax status, business processes and operations in general (Ernst Young, 2011). Currently in the UK, only entities listed on the regulated market are required to file their accounts in accordance to IFRS, whereas all other UK entities are permitted to use wither IFRS or follow UK GAAP. ASB (2009) proposed three new standards, FRS 100, FRS 101 and FRS 102, that replace all current UK standards. By December 2014, UK GA AP will cease to apply to the financial statements and becomes mandatory for all UK entities for the year end December 2015 or from January 2015 but this is subject to early adoption provisions (ASB, 2009). Early adoption of FRS 101 is allowable without restriction whereas FRS 102 can be allowed on or after the accounting year end 31 December 2012 (PWC, 2013). The impact of each FRS is briefly discussed below. Needs of UK entities Entities are of different types of varied sizes with different shareholding and management. Every entity has its own properties but has to act in accordance to the local laws and accounting standards when reporting that gives a user clear picture and nature of business performance. In accounting, â€Å"True and Fair View† plays a pivotal role in reporting and presenting financial statements. It remains a fundamental part to accounting within the local and international laws. Under company law, an entity is a separate legal body from its owners. A large entity can be easily distinguished who the owner/manager is, unlike sole traders where it is quite difficult to get a clearer picture although the business forms a separate identity. Charitable organizations, government bodies and some entities have different ways of reporting and in some cases they do not follow UK GAAP in full. Instead, they follow the rules and guidance prescribed by the state and the civil law. Tr ue and Fair view in terms of accounting standards may not be true and fair in terms of tax and to get a clear picture of business transactions, some items should be shown as expenses that wouldn’t be allowed for tax (Sweetman, 2009). Sweetman (2009, p.4) argues, â€Å"Very small businesses are unlikely to have fluctuations from year to year in most levels, and if in hard times the list of creditors grows then it seems reasonable to tax what is received rather than what may be received one day†. Listed and regulated companies are already following IFRS guidelines and procedures for preparation and reporting financial statements but not all entities are in the regulated market and listed. GAAP varies from nation to nation and hence comes IFRS to come into action. Not all the needs of all UK entities are met by GAAP. It may be because of the nature of transactions an entity has. Trading has become global and most companies, from small to large, trade across the b orders and in different countries that have different set of rules and regulations which are to be followed in terms of exchange, tax regimes and other accounting standards. Since the globalisation of the business, a single accounting system has been a major debate for all accounting standard setters in the world. There has been a long standing debate for the convergence of UK GAAP into the IASB framework and this has become a reality following the strategic approach taken by ASB in the past few years. ASB’s Strategy for UK GAAP In 2009, ASB proposed a â€Å"Three-Tier† approach to the transition of UK GAAP into IFRS to the fullest extent possible with the needs of UK entities. This three-tier approach was based on the public accountability. Tier 1 All listed and regulated market entities are to follow EU adopted IFRS under this accounting regime. Tier 2 All non-publicly accountable entities are to follow IFRS for SMEs under this regime Tier 3 All small entities such as private companies are to follow Financial Reporting Standards for smaller entities (FRSSE) under this regime. Under this proposed change, all entities will have the option to voluntarily adopt a higher tier. One of the objectives of ASB is to offer a comprehensive and clear guidance for all entities by providing high levels of transparency and accountability (ASB, 2009). ASB (2009) believes that the strategic change will improve the financial reporting in many ways such as simplifying the reporting requirements ba sed on the entity’s accountability and size, basing UK GAAP on IFRS provides a consistent basis of preparation of financial statements with better understanding at all levels of users and improved comparability of financial reports will boost investors’ confidence in the capital markets. UK GAAP v IFRS: Key Differences Goodwill: Under IFRS, there is no amortisation used but annual impairment test. Borrowing costs and development costs: If criteria are met then the costs are capitalised under IFRS but is optional under UK GAAP Deferred Tax: Temporary differences are recorded under IFRS Holiday pay accrual: This must be recognised under IFRS Financial Instruments: Recognition of derivatives under IFRS but only recognised if FRS 26 adopted in UK GAAP Impact of New Standards The Financial Reporting Council (FRC) issued three financial reporting standards (FRSs) 100, 101 and 102 following several consultations to move from current FRSs to IFRS framework. Small entities remain unchanged to the standards as there will be no changes to FRSSE with exceptions to minor amendments (FRC, 2013). The FRC (2013) produced an impact assessment for all these new standards which are discussed below in brief. FRS 100 Application of Financial Reporting Requirements, FRS 100, provides guidance about the reporting requirements for all entities. This tells the companies or LLPs which set of standards they may or must follow. Listed and regulated companies must use their IFRS in their group accounts. Small companies defined by Companies Act 2006 use FRSSE but a revised version from January 2015 with some minor amendments and other entities that are not small have various choices depending upon the situation. Such as FRS 102, the main new UK GAAP and FRS 101, the reduced disclosure framework or adopt the full IFRS. This suggests that companies which are currently using Statements of Standard Accounting Practices (SSAPs) and FRS will end up using FRS 102. FRC (2013) states that the introduction of new standards will have positive impact on the entities where the benefits are impossible to quantify. FRC believes that the main quantifiable cost is the transition costs for individual entities and t hose entities that apply for reduced disclosure framework. FRS 101 FRS 101 Reduced Disclosure Framework creates a new type of standard in the UK. It allows subsidiaries of groups preparing consolidated financial statements in accordance with EU adopted IFRS to apply accounting policies that are consistent with the group accounts. FRS 101 allows some qualifying companies to use IFRS and such entities can take exemptions from following items. Cash flow statements- entities are exempt from preparing cash flow statements Share based payments- entities are exempt from most of the disclosure requirements by IFRS 2 except description is needed in some areas such as, options exercised in the year and outstanding in the year end Business combinations- entities are exempt from most of the disclosure requirements but some basic information would still need to be disclosed on the acquisition Discontinued operations- entities are exempt from the disclosure of net cash flows attributable to the operating, investing and financing activities Financial instruments- entities which are adopting FRS 101 are exempt from all of the disclosure requirements of IFRS 7, except financial institutions Fair Values- most entities are exempt from all of the disclosure requirements of IFRS 13 except financial institutions in relation to financial instruments Impairments- entities are exempt from the disclosure of assumptions, valuation techniques and sensitivities arising from impairments Related Party Disclosures- as part of the Companies Act 2006, directors’ remuneration is still required to be disclosed but entities are exempt in disclosing the related party transactions Accounting policies, changes in accounting estimates and errors- entities are exempt from the disclosure and also exempt from disclosing the impact of the application of those standards Comparatives information- entities are exempt from comparatives for movements on property, plant and equipment (PPE), share capital, intangible assets, and investment property Capital Management- entities are exempt from the disclosure requirements of capital management but not available to financial institutions FRS 102 FRS 102, the Financial Reporting Standard is based on IFRS for SMEs and mainly used IFRS language. There are some changes in the terminology of words used in the financial statements, such as, instead of fixed assets, property, plant and equipment has been introduced. There have been significant changes in the financial instruments. Previously, in the UK GAAP, derivatives with zero cost were not recognised but under the new standards, this will be recognised as even small entities have derivatives due to the global trading. ASB realized that FRS 26 (IAS 39) Financial Instruments: Recognition and measurement was not a proportionate solution for all UK entities and hence further areas were expected as part of the convergence process with EU-adopted IFRS. FRS 102 brings in significant improvements in the transparency of financial reporting of financial instruments (FRC, 2013). FRS 102 requires derivatives and some equity instruments to be measured at Fair Value Through Profit an d Loss (FVTPL). Conclusion The ideas of convergence of UK/Irish GAAP into IFRS have been widely accepted ever since the debate started and it was warmly welcomed. The new UK GAAP will become mandatory for most entities which prepare financial statements for the year end December 2015. The three FRSs will be put in place that replace all the UK accounting standards. Most members were reasonably satisfied with the amendments proposed to the IFRS for SMEs with some unsatisfactory responses for negative goodwill and the removal of fair value option, based on conflicts with EU Directives (ACCA, 2011). Association of Chartered Certified Accountants (ACCA) stated in their report in 2010 following the ASB consultation paper that the new standards would inevitably benefit cross-border trade, reduce costs for companies by providing a single consistent basis of standards, and the cost and time involved in maintaining a separate UK GAAP would be avoided. There might be a number of reasons why convergence was neces sary. The application of IFRS may also be driven by national GAAP because of inertia to minimise the changes in financial reporting for stakeholders caused by switching from one set of accounting rules to another (Nobes, 2006). Firms may choose to end their national accounting traditions following the adoption of IFRS (Haller and Wehrfritz, 2013). There might be variations in IFRS reporting due to country-specific factors (Haller and Wehrfritz, 2013). In the wake of global business and trading relationships across the globe, new accounting standards had to be evolved for a consistent and transparent reporting. This not only creates and boosts confidence to users but also provides clear and concise understanding of the financial reporting systems to any stakeholders or users. The transition for UK GAAP to move and adopt IFRS has remained a huge success and widely accepted by all levels of institutions and individuals. There is no doubt that the standards have to evolve over time. The new level of UK GAAP will provide better understanding and try to remove any ambiguities that are engraved in the accounting standards. Bibliography ACCA (2010), â€Å"What is the future of UK GAAP?†, Accountants for Business. [Online] Available from https://www.accaglobal.com/content/dam/acca/global/PDF-technical/financial-reporting/tech-afb-fukg.pdf [Accessed: 29th September 2014]. ACCA (2011), â€Å"Future of financial reporting in the UK and Ireland: Summary of ACCA Member Surveys†. [Online] Available from https://www.accaglobal.com/content/dam/acca/global/PDF-technical/financial-reporting/tech-tp-fofr3.pdf [Accessed: 30th September 2014]. ASB (2009), Consultation Paper, â€Å"The Future of UK GAAP†.[Online]Available from https://www.frc.org.uk/getattachment/b106b739-316d-4b22-8703-a2ed94ff9863/Consultation-Paper-Policy-Proposal-The-Future-of-U.pdf. [Accessed: 29th September 2014]. Clive Owen Co LLP, (2012), â€Å"The Future of UK GAAP†.[Online] Available from https://documents.cliveowen.com/Future%20of%20UK%20GAAP%20%28Oct-12%29.pdf [Accessed: 29th September 2014]. Deloitte (2014), â€Å"Summary FRS 101: Reduced Disclosure Framework†.[Online] Available from https://www.iasplus.com/en-gb/standards/uk-gaap/frs101 [Accessed: 30th September 2014]. Ernst Young (2011), â€Å"UK GAAP vs IFRS† [Online] Available from https://www.ey.com/Publication/vwLUAssets/UK_GAAP_v_IFRS_-_The_basics_-_Spring_2011/$FILE/EY_UK_GAAP_vs_IFRS_-_The%20basics_-_Spring_2011%20.pdf [Accessed: 30th September 2014]. Financial Reporting Council,(2011), â€Å"True and Fair†.[Online]Available from https://www.frc.org.uk/FRC-Documents/FRC/Paper-True-and-Fair.pdf [Accessed: 29th September 2014]. Financial Reporting Council (2013), â€Å"Impact Assessment† [Online] Available from https://www.frc.org.uk/Our-Work/Publications/Accounting-and-Reporting-Policy/Impact-Assessment-FRS-100,-FRS-101-and-FRS-102.pdf [Accessed: 29th September 2014]. Haller, A Wehrfritz, M. (2013), The impact of national GAAP and accounting traditions on IFRS policy selection: evidence from Germany and the UK, Journal of international accounting auditing taxation, 22(1), pp. 39-56. Institute of Chartered Accountants of England and Wales (2014), â€Å" UK GAAP† [Online] Available from https://www.icaew.com/en/technical/financial-reporting/uk-gaap [Accessed: 30th September 2014]. Nobes, C. (2006). â€Å"The survival of international differences under IFRS: Towards a research agenda†. Accounting and Business Research, 36(3), 233–245. PricewaterhouseCoopers (2013), â€Å"New UK GAAP or IFRS?: Your questions answered†, [Online] Available from https://www.pwc.com/im/en/publications/assets/new_uk_gaap_or_ifrs.pdf [Accessed: 30th September 2014]. OKeeffe, I. Hackett, F. (2010), â€Å"The End of UK/Irish GAAP A lot done, more to do†, Institute of Chartered Accountants In Ireland, Dublin; June 2010; 42,3; ProQuest Business Collection; p.16 Smetanka, R. (2012), â€Å"GAAP or Non-GAAP?†, Financial Executives; November; 28,9; ProQuest Business Collection; p.13 Sweetman, S. (2009), â€Å"Does one size fit all?† [Online] 14th February. Available from https://www.taxation.co.uk/taxation/articles/2009/04/14/18222/does-one-size-fit-all [Accessed:29th September 2014]. Wright, G.B., Fernandez, D., Burns, J., Hawkins, R., Hornsby, C. Patel, S. (2012), Big GAAP/Little GAAP: Will The Debate Ever End?, Journal of Business Economics Research (Online), 10(5), pp. 291.

Teaching Students With Behavioral Disorders Essay

Introduction While the presence of certain characteristics in children with behavioral disorders might sometimes seem discouraging but the bottom line is not to give up on any student in any case. Most of the times, children with behavioral and emotional problems might challenge a patience of teachers and cause temporary despair. In this situation, teachers require the support of others in supported students to succeed. The classroom is a learning community; therefore, it is very much significant to create a constructive atmosphere in the classroom. The successful behavior management in classroom can be improved by colleagues as well as by the family of the students. While considering the needs of students with behavioral and emotional problems, the paper aims to develop appropriate strategies for teaching students with behavioral disorders in the classroom. Discussion Education is the central element in the life of every human being that belongs to a society, since it is through this process that people can live in harmony with their fellow human beings. However, sometimes due to a lack of professional training and information, some students are marginalized by categorizing them as restless or rebellious. Generally, these students confront with behavioral disorders. These children show some particular characteristics that, on many occasions, put their stability into the classroom, that of their classmates and even that of the teacher. The ignorance or lack ofShow MoreRelatedChallenges of Teaching Students with Emotional/Behavioral Disorders1735 Words   |  7 PagesChallenges of Teaching Students with EBD, P. 1 Running Head: CHALLENGES OF TEACHING STUDENTS WITH EBD Challenges of Teaching Students with EBD By Paula Hill Grand Canyon University SPE 558 Characteristics of Emotional Disabilities and Strategies to Teach Individuals with EBD Karen Moeller, Instructor May 9, 2012 Challenges of Teaching Students with EBD, P. 2 Challenges of Teaching Students with EBD There are many challenges presented to the education system in teaching students with EBDRead MoreTeaching Strategies For Students With Emotional And Behavioral Disorders ( Ebd )1061 Words   |  5 PagesDescription It can be challenging for a teacher to manage students with Emotional and Behavioral Disorders (EBD). In this lesson, we will discuss some teaching strategies for teaching EBD students. !!!Lesson Summary http://education.cu-portland.edu/blog/teaching-strategies/5-tips-for-handling-ebd-k !!!The Student with Emotional and Behavioral Disorders in the Classroom As teachers, we likely notice that students with __Emotional and Behavioral Disorders (EBD)__ find it difficult to control their behaviorRead MoreClassroom Behavior Management For African American Students1295 Words   |  6 PagesThe number of students being diagnosed with or suspected of having an Emotional/Behavioral disability is rapidly increasing, especially for African-American students and in students at younger ages. The U.S. Department of Education reports that an African American child is one and a half times more likely to be placed in a classroom for children with emotional disturbances than a White child (Children’s Defense Fund, 2011). I have observed that many of these students are often disengaged during literacyRead MoreChallenges of Teaching Students with Ebd1237 Words   |  5 PagesCHALLENGES OF TEACHING STUDENTS WITH EBD Challenges of Teaching Students with EBD Laura Shupe Grand Canyon University: SPE-558 January 23, 2013 Education is an important factor of life that is a foundation of intellectual development and intelligence that shapes the futures of all students. There are students with disorders and disabilities who display hardships and delays in education that require different approaches and special teaching strategies. Students with emotionalRead MoreEmotional Behavioral Disabilities Of Children1470 Words   |  6 Pagesexplain and examine emotional behavioral disabilities in children. It will also explain the many concerns that are related to certain students. Since the passing of many laws, many schools and their district all over the United States have included inclusion as a methods of teaching, because of this, the likelihood of many students in those classrooms will become diagnosed with a EBD which is known as an Emotional Behavioral Disorder. What is Emotional Behavioral Disorder? According to www.behaviordisorderRead MoreTeaching Students With Emotional Or Behavior Problems951 Words   |  4 PagesTeaching students with emotional or behavior problems can be overwhelming, it is often a challenge for teachers to teach them. Students with EBD are underachievers, usually the fail to attain the expected level for their mental age (Hallahan, Kauffman Pullen, 2015); the ones with severe disorders lack basic reading and arithmetic skills and the few that show competent in these areas often are not able to apply these skills to everyday problems. Students with EBD regularly have poor grades and otherRead MoreWorking with Students who have Learning Disabilities Essay examples1481 Words   |  6 PagesWorking with Students who have Learning Disabilities Over the past 10 years, there has been a dramatic increase in the number of students who have been diagnosed with learning disabilities. I need to be aware of how to help those students who have learning disabilities and teach to the best of my ability. I also need to be supportive and understand not every student learns in the same way which is why it is important for me to be flexible in my own style of instruction. I need to be knowledgeableRead MoreTeaching Students with Adhd1433 Words   |  6 PagesTeaching Students with ADHD J. Palmer Capella University Abstract In recent history, the number of students diagnosed with Attention Deficit Hyperactivity Disorder has grown tremendously; causing teachers to face new challenges on how to instruct students with behavioral and learning difficulties. Students with ADHD have not only the privilege, but also the right to learn according to the Public Law 94-142 and the Americans with Disabilities Act. There is growing debate about methods that areRead MoreCurriculum Guide For Spoken Language And Word Recognition1110 Words   |  5 Pagesdespite a students’ disability. In this essay we will look at the challenges of teaching students with LD from the viewpoint of utilizing a Curriculum Guide; the strategies we will use with regard to ..............challenges we ran into to provide those services to students with LD. An attempt will also be made to categorize the definition which is often said in most writing and even from IDEA that the definition is ambiguous as well as discuss the challenges of working with these types of students. InRead MoreIntellectual And Developmental Disabilities And Emotional Or Behavioral Disorders1256 Words   |  6 Pages Intellectual and Developmental Disabilities and Emotional or Behavioral Disorders Natasha Hoaglen California State University, Chico â€Æ' Intellectual and Developmental Disabilities and Emotional or Behavioral Disorders Intellectual and Developmental Disabilities Description Characteristics Intellectual and developmental disabilities [ID and DD] are defined as those having â€Å"significant limitations both in intellectual functioning and in adaptive behavior as expressed in conceptual, social,

Open Editorial for Basic Health Care and Awareness - myassignmenthelp

Question: Discuss about theOpen Editorial for Basic Health Care and Awareness. Answer: Nurse stands as critical cornerstone of basic health care like food safety and awareness in the country Australia is a developed country, still we have the challenge of health care delivery due to shortage of nurses and nurses are under tremendous pressure. The dignity of the human person can be shattered if he or she does not get access to quality health care delivery as health care is a basic right for individuals. One of the issues under public health care delivery is food safety issue. Public health is largely affected by the quality of food available. If contaminated food is available to the public then it can lead to serious consequences. Spreading awareness about the food safety should be a big agenda of the government. I feel there is less awareness about the food safety among the public. In addition to this there has to be constant vigilance about the food safety as any untoward accident can lead to food contamination which can affect the public health (Pollard Meng, 2014). There is lot of scope for spreading awareness about the food safety aspect. There are different aspects of food safety which can be taken up. There can be general food safety awareness about contamination of food. Other can be food safety processes in restaurants. There have been many instances in the past where food contamination have led to serious consequences. Public health disruption by contaminated food is the worst thing in terms of public health disruption (Schaffer Buckley, 2016). It is important to spread more awareness about this issue as I feel safe good is right of every individual and public health should not be affected due to contaminated food. If I had resources I would set up centres which spread the information about the food safety issues. There are many factors which affect the public health which we might not have control over but food safety can be ensured and this can save lives and save a lot of costs. There are already good controls and standards which have been set up by the government agencies, its more about implementing these controls. Hence effort should be done in telling the people about the controls and also trying to enforce them. Having good and safe food can be ensured and this will be good for the society as well as the industry. It would be correct to say that there exists a complex relationship between legal principles and ethical guidelines. The nurses are under the tremendous pressure to maintain a balance between legal principles and ethical guidelines. There are times when nurses must choose one between legal and ethics. Public health ethics deal with issues of public welfare related to public health. It mainly deals with being issues related to diseases and mainly focuses on health of the public. Thus the main points covered in public health ethics are preventing the diseases and also promoting good health among the population. There are frameworks related to prevention of diseases for public health but promoting good health or monitoring the good health can involve many issues (Colgan Jeong, 2017). The pertinent question whether these aspects like food safety should also be covered in public health ethics. Ideally yes. These issues which directly affect the population should have at least some relevance in public health ethics. These issues directly affect the public health and public health officials should get involved in these aspects. Currently there are not much ethical imperatives to look into such issues as they dont directly deal with health issues but there should be a framework which brings in these aspects also under the ethical purview of the public health ethics. Incidents which affect the public in a very significant manner should also be brought under public health ethics (Pierce Jameton, 2003).Hospitals, health departments and the non-profit organizations can play a significant role in handling any events and thereby preventing the disastrous consequences of these events (Ott, 2012). By working in coordination different stakeholders can help the people, make them more aware and also help them during the event. When such event occur a lot of people will require medical help and these institutions can help people and also remain prepared to treat large number of individuals. Also prevention of disease during such event is necessary. If there is lack of safe drinking water then preventing disease from spreading can be a major task. Educating people about the safety norms and how to tackle different scenarios can prove effective. These institutions needs to prepared before any major event takes as post the event it can be difficult to handle the situation on the ground and hence these institutions need to be prepared and also educate the public. This way they can help the people (Olasky, 2006) References Colgan, J., Jeong, S., Hickey, N., King, J. (2017). The Clinical Nurse Consultant role in incident surveillance and patient safety: A case report.Collegian,24(5), 463-468. Ott, K. B. (2012). The Closure of New Orleans' Charity Hospital After Hurricane Katrina: A Case of Disaster Capitalism. Olasky, M. (2006).The politics of disaster: Katrina, big government, and a new strategy for future crises. Thomas Nelson Inc. Pierce, J., Jameton, A. (2003).The ethics of environmentally responsible health care. Oxford University Press. Pollard, C. M., Meng, X., Williamson, S., Dodds, J., Binns, C. W. (2014). Eating out is associated with self-reported food poisoning: a Western Australia population perspective, 1998 to 2009.Public health nutrition,17(10), 2270-2277. Schaffer, A. L., Buckley, N. A., Cairns, R., Pearson, S. A. (2016). Interrupted time series analysis of the effect of rescheduling alprazolam in Australia: taking control of prescription drug use.JAMA internal medicine,176(8), 1223-1225.

Why Did The South Lose The Civil War Essay Example For Students

Why Did The South Lose The Civil War Essay Albert Gallatin Brown, U.S. Senator from Mississippi, speaking with regard to the several filibuster expeditions to Central America: I want Cuba . . . I want Tamaulipas, Potosi, and one or two other Mexican States; and I want them all for the same reason for the planting and spreading of slavery. Battle Cry of Freedom, p. 106. Richmond Enquirer, 1856: Democratic liberty exists solely because we have slaves . . . freedom is not possible without slavery. Lawrence Keitt, Congressman from South Carolina, in a speech to the House on January 25, 1860: African slavery is the corner-stone of the industrial, social, and political fabric of the South; and whatever wars against it, wars against her very existence. Strike down the institution of African slavery and you reduce the South to depopulation and barbarism. Later in the same speech he said, The anti-slavery party contend that slavery is wrong in itself, and the Government is a consolidated national democracy. We of the South contend that slavery is right, and that this is a confederate Republic of sovereign States. Taken from a photocopy of the Congressional Globe supplied by Steve Miller. We will write a custom essay on Why Did The South Lose The Civil War specifically for you for only $16.38 $13.9/page Order now Methodist Rev. John T. Wightman, preaching at Yorkville, South Carolina: The triumphs of Christianity rest this very hour upon slavery; and slavery depends on the triumphs of the South . . . This war is the servant of slavery. The Glory of God, the Defence of the South (1861), cited in Eugene Genoveses Consuming Fire (1998).Alexander Stephens, Vice-President of the Confederacy, referring to the Confederate government: Its foundations are laid, its cornerstone rests, upon the great truth that the negro is not equal to the white man; that slavery . . . is his natural and normal condition. Augusta, Georgia, Daily Constitutionalist, March 30, 1861.Alfred P. Aldrich, South Carolina legislator from Barnwell: If the Republican party with its platform of principles, the main feature of which is the abolition of slavery and, therefore, the destruction of the South, carries the country at the next Presidential election, shall we remain in the Union, or form a separate Confederacy? This is the great, grave issue. It is not who shall be President, it is not which party shall rule it is a question of political and social existence. Steven Channing, Crisis of Fear, pp. 141-142.Political divisionsAmerica was thus divided by economic structure, and was led into fratricidal warfare by a series of political clashes. The most common cause was the future of the West. The crises over Californias admission in 1850 and over Kansas–Nebraska in 1854 were typical of the divergent economic interests of North and South in relation to the West. The North wanted free land for independent labour in the same new territories where the South sought to perpetuate its traditional way of life by extending slavery. The issue was not the slavery already practised, but the prospect of its extension into the West. Only in the Southern states of the USA did slavery persist as a major, if not essential, component of the economy – providing the labour force for the cotton and other plantations. While the Northern states abolished slavery in the 1787–1804 period, the Southern states insisted on protecting the institution. Slavery became an issue in the economic struggles between Southern plantation owners and Northern industrialists in the first half of the 19th century, a struggle that culminated in the American Civil War. Despite the common perception to the contrary, the war was not fought primarily on the slavery issue. Abraham Lincoln, however, saw the political advantages of promising freedom for Southern slaves, and the Emancipation Proclamation was enacted in 1863. This was reinforced after the war by the 13th, 14th, and 15th amendments to the US constitution (1865, 1868, and 1870), which abolished slavery altogether and guaranteed citizenship and civil rights to former slaves. Apart from the moral issues, there has also been a good deal of debate on the economic efficiency of slavery as a system of production in the USA. It has been argued that plantation owners might have been better off employing labour, although the effect of emancipating vast numbers of slaves could, and did, have enormous political and social repercussions in the Reconstruction period following