So since it's not a stand-up comedy, I'm not going to ask you to shut the good afternoon. But the intention is there. It's Friday. We are really happy to have you here. We really would like to thank you for our income to this small gathering, to enjoy some food with us and to discuss about migration. But the positive side of migration, migration in a nice way, which is a bit of a chance change from what we tend to hear about migration lately. Let's say we're not going to hide the fact that it's a high-profile issue. You all may be following what I would call the global compact on migration saga, with every day the news on who's in and who's out. And I must say I look forward to the Marrakesh summit to be over so we can start the actual work on the global compact on migration. And it's a bit of an elephant in the room, but it's not something that we can also go away from. There are in that document a number of commitments. Whether you're in or out, when you talk about migration, this is a great mapping of what migration is about in all its complexity in a balanced way, in a way that respects sovereignty and most of all in a way that is non-binding. But in a way also that puts cooperation as the only way forward when you want to deal with migration issues. But what is important for us today for this event is that the global compact on migration is also very much based or entrenched in the sustainable development goal. And for a long time this relationship between migration and development has been also one of this ongoing discussion that is not that easy to explain. There is a relationship between migration and development in one way, between development policies and their impact on migration. And there is a need to do quite a bit of work to try to better understand what are those linkages between migration and development. And we have it now. Thanks to the great work of a lot of colleagues and here we have Cicely Rian with us who has led to Salesforce on the side of IEA together with Simon Giga from the SDC, who has also supported us together with DeafCo. So we would like to very much thank you for having come here, for having taken the time, and they will tell you a bit more about what are we talking about when we are talking about these links between migration and development. And let's remember that it's not something that can be easily squared, that can be simplified. The migration as a phenomenon can be positive or negative. It depends a lot on the context and on the different factors on my side, dealing mostly with the forced migration on the side of the spectrum. We know what development means when it comes to forced displacement, what can be done. We also know that sometimes it can have negative consequences that it's also to be addressed. So it's not to portray anything in a rosy way or in a simplified way, but really to try to understand the real complexity around those issues. So with no further view, I'm giving you the floor. Thank you. Thank you so much, Matt Witt. And they welcome to all of you. So we're very excited to be launching here in Brussels in front of our important partners from the European Commission, as well as colleagues from the UN agencies, and further beyond these guides that I hope you all have in your hands. That is very much the first attempt that has been made to really articulate the 2030 agenda with migration. And that has a very meaningful significance. This is what I'm going to try to explain in my presentation, which is really going to be mostly aimed at walking through these guides and, of course, its main messages and what it actually does for its users. So have a PowerPoint, but hopefully it's not going to be a boring one. So basically what this picture is telling you is very much that migration is relevant for all the goals that we have in the agenda. So traditionally we've been thinking, first of all, that it's been a major breakthrough that migration has been integrated in the agenda. Actually it's the first time. So if you think of the NTGs, the predecessors to the SDGs, migration was nowhere to be found. And the gospel has been for a long period of time, but actually migration is a development failure. So, you know, rethinking migration as an enabler for development is something that actually took time and effort, and really the fact that it is now squarely within the agenda 2030 is a major achievement with enormous promises. But first of all, so let's have a look at the picture that we have here. What we have tried to do in the context of this guide is really to articulate all the entry points that exist between migration in all its manifestations. So here we are, of course, talking not only about, you know, migration that is made out of choice, but as well also looking into displacement. We're also looking into all types of migrants themselves. So looking at the children, looking at the woman, looking at the men, so really zooming into all those different situations and circumstances in which people are on the move. And basically, you know, going through the entire agenda, going all one by one, and articulating which are those direct and indirect entry points. It is very clear that there is one specific direct entry point, which is the whole 10.7, that is under the fighting inequalities or reduced inequalities. So we are here. And I think it's very meaningful in fact that migration has been put there, because it is clearly a signal that actually a lot of the reasons why people migrate is because there is a fundamental problem of inequalities within societies and between societies. So it's already giving us a very good hint in terms of what are the kind of policy interventions that one should be thinking of putting in place if we are to help with safe-ordering migration, which is really the essential message that is articulated in 10.7. So moving on, I think what we have to understand is that the significance of migration is being included in the 2030 agenda. What does it mean? It means that we simply cannot do business as usual as we've been doing so far. It means that we really have to see that tremendous opportunity to finally connect developments and migration policymaking. We finally have to connect actors. So it's really thinking about, you know, when we do, when we work on migration, we should stop only thinking through migration policies. We have to start thinking through education policies, health policies, organization policies, housing policies, so on and so forth. So really actually how we can define these Gs is that it is a formidable declaration of interdependence. So let's understand through the agenda all these interdependencies that exist when it comes to migration and let's be able to articulate them in policymaking and in concrete programming on the ground. And that has really, when you actually see the full potential of this, this is very transformative indeed. So I think what is really important is also to really see another important element which is the universality of the SDGs. The SDGs are to be applied both in what we call the global south and what we call the global north. And that is important. It's also an opportunity for us to articulate that indeed migration does have a development impact in destination countries. So it is also a way to articulate this phenomenon in a different manner than how it's been articulated so far. So it's not only about making up migration in receiving countries through the angle of integration, but it's much more than that. The promises are much bigger than that. So seizing the universality of the SDGs applied to migration provides tremendous opportunity also to change potentially the narrative of migration which as we know and as was recalled by my colleague Patrice, is actually quite negative unfortunately and particularly here in Europe. So in general terms moving on I think it's really forcing us to go deeper in understanding about how migration connects and interact and impact other development sectors or parts of policy making. And to be frank with you we don't necessarily have the evidence base right now to actually fully apprehend this complexity and all of those connections but this is what this agenda gives us as an opportunity to do. And if we aren't able to do that it means that we'll be able collectively as an international community to do a much better job at working on migration, at impacting migration and really looking at all the different arrays of related issues. So it's really about going beyond governance as usual. What does it mean quickly? It means that if you are doing policy making or migration within a given country it's about connecting with other line ministries. It's about understanding you know how the policy making you're doing in very specific areas going to impact other areas. And being able to actually make this a de facto or like you know the normal way of working not something you think sometimes of doing because you know it's good to have all of governance approach from time to time. No it's something we need to be doing and establishing systematically. And that's why we're very happy to be you know have the privilege of being you know working with the Swiss Development Corporation in this critical issue that is policy coherence on migration and you know if we are to be able to do policy coherence on migration it means that we will be doing our job in supporting the implementation of the 2030 agenda. Because there is no doubt that if we don't look at a specific situation of men and women and children migrants we will not be able to fulfill the promises of the 2030 agenda. So migration though it might not appear in plain words but in all the goals he is relevant for all the goals. And this means that we cannot do governance the way we've been doing it so far in migration anymore. So I think it's that's a very strong message that I hope we are sending with this guide. So now maybe turning more specifically to the guide itself and how it's structured and what it can do for you. So basically it has different components what you can see here on the screen is that there is a part of it at the end that is in the pockets at the back of the document which does something quite so I hope which is basically to look at all the goals and for relevant targets that are you know important from a migration point of view. So hopefully you know for you migration policymakers or development policymakers this could become a very useful way for you to systematically articulate those connections when you're thinking of programming when you're thinking about partnership who should I work with in order to impact these issues. So hopefully you know this guide is going to be providing you with those clues with those articulations with those answers. So we hope that would be important and useful for you. So moving on this is really what's the guides who is it for. So I started giving some answers to the question I just asked but I want to also make a very specific point is that we think of migration as something that is really in the prerogative of national governments. Migration is about national policymaking it's about national policy implementation and we also know for a fact and particularly us development actors that it's not quite right that actually the impact of migration and on development is most and foremost felt at territorial level within cities that have become as we all know the destination of choice of migrants all around the world. Migration is most and foremost the state and urban phenomenon. It's also in the hands of local and regional authorities so you have you know at the provincial level at the regional level depending of course on the type of administrative structures you have in country. So this is why this guide has been really designed to support national as well as local policymakers understand you know how basically to work with this agenda. This agenda is very complex it's very it's intertwined it's this declaration of interdependence I was talking about so it means quite a lot of resources to be able to make those articulations and this is what this guide is trying to do is really to tell for policymakers as you are embarked in implementing the SDGs what are the migration considerations that one should take into account what are those connections that you can make in order to translate that into you know new legislation in order to translate that into an initiative or program or so basically this is really how to do it basically and we are very much mindful of the fact that there are many other processes on the SDGs that exist in country so what this guide does is that really helping to plug this work on migration with the countrywide exercise of implementation of the SDGs so it's not duplicative it's not yet another thing at the top of other things it's really trying to really mainstream this into what is being done in terms of the government's efforts to to implement the agenda and fulfill their commitments towards that agenda so this guide also exists in in a you know let's say electronic version through the network I don't know if you've heard of it that is the M4D net the migration for development network which actually we launched as an interagency initiative led by UNDP that was called the UN joint migration at the European Initiative which was funded by the European Union and which really has become the largest hub on migration and development worldwide so within that that setting within on the on the platform on the M4D net you can find actually you know in a dynamic manner all those references so we hope this will really contribute as well to you know make this information easily available and digestible for as many people as possible around the world so going back to to the now thinking more about the interconnection that exists between migration and the 2030 agenda so now I'm more diving a bit more into the substance of things I've been talked about about the guide itself so you will have now on the screen those direct connection between migration and the 2030 agenda what do we mean by direct connections it's literally where the word migration or migrants or victims of trafficking and all the related issues to migration are actually spelled out so you will you will see that it appears in quite a lot of instances in the agenda under quality education under gender equality decent work and economic rules reduced inequalities we've mentioned that before peace justice and strong institutions and they have the really important aspect as well of goals 13 on partnership so this is where we have those clear entry points that is children mobility human trafficking and exploitation labor employment uh migration so unemployment migration governance remittances and migration data so maybe let me pause a little bit on migration data because this is really one of the challenges that we have and it's really important that it is captured in the agenda because as you know to do sound policy making one needs sound data but unfortunately we have to to admit that in the field of migration this sound data are really missing and this is something where through partnership we do need to to fill that gap and that's very important so already you know if you are to consider just the direct connections this is between migration and the 2030 agenda we have very useful and very important entry points that really call for the international community to pull this resources and efforts now let me move on to the what we call the indirect references to migration and this is where you know we go back to the point that I was trying to make earlier that migration is relevant for the entirety of the agenda so here it's clear those on the on the on the screen poverty and growth very important social protection health education gender children cities climate change clearly climate change citizenship and identity and partnership for development so those those are the cross-cutting issues that we are clearly articulating in this guide so let me maybe go now a bit deeper on on some of those issues because I'm not going to go through all of them for the interest of time but I just want to kind of give you a glimpse about what is it that we actually talking about using the scg lenses so let's talk about the issue of health health is a major you know elements of what we do actually in a room because it is a major relevance for the world in of migrants because migrants do face differentiated health risks and often have low access to health care and this is why you know service provisions between the sector of health really have to be mindful of those specific vulnerabilities those specific needs and as well as those specific risks that are associated with human mobility so basically it's just showing that you know through health and then the migration length it's about improving distribution of the global health workforce it's about improving reproductive health for migrants it's about improving universal health coverage for migrants but in general and that's why including migrants in HIV Aids, Malaya and other health efforts so it's just showing you you know how these efforts need to be mainstreamed in other you know type of health intervention and why these are so relevant you know why migration is so relevant to kind of you know capture what needs to be done as international community on health so maybe now let's move to another one which is education I think it's very key that roughly one in 70 children worldwide in a country in a different that even in a different country that they own this is a tiger in picture so if we are to work in the education sector without thinking about the needs and the specific vulnerabilities of children on the move then we are missing a big part of what needs to be done in that policy making area so again you know it's really about expanding education opportunities increasing student mobility which is a very important element that we need to be capturing as well addressing the global supply and matter of skills because of course then it collects to employment and how we recognize the skills of migrants and again also improving education for migrants should be so what we're trying to say here is basically you know all the ramifications just trying to evidence those ramifications and again what does it mean in terms of policy making so I could go on and on there we of course have poverty and growth as well as as climate change I think maybe we can stop on the one on cities which is really also building on what I was explaining before that migration has become most and foremost another phenomenon so actually one could think that most of policy making in the field of migration should be about urbanization policies these days so but are we our policy makers at city level completely aware of those complexities of the fact that they have to take that into account maybe not and this is why you know the the avenue of SDGs is so important to help them connect to dogs as well as other important genres like the new urban in general which is an important element because it does also acknowledge migration so it's about in that sense what integrating migration in local development planning it's about adjusting services that are provided to the wider population or for the wider community so it has a lot of ramifications so once you're able to kind of articulate that and do it against the backdrop of the SDGs as an overall commitment of the international community then your policy making and your understanding about what you're trying to achieve becomes better so it's not so much about migration anymore there's just thinking of migration as an important element of this big adventure so now turning to the most more practical part of the guide so what i've described in a nutshell is that most the first part of the guide which is more zooming into those connections the second part is really about basically you know going through a four-step approach that we it's absolutely not compulsory so it's just we are suggesting this as a methodology which is really about who are the actors that you have to bring around the table to be able to implement this process how you go at the very difficult job of prioritizing because it's you have this big agenda the all these different issues so we're helping through the guide the users to kind of zoom onto those those acceleration points that actually make sense in their given context in order to really address what is the most important for them so the step of prioritization is comes with tools and so on that you will find in the guide then we move on to the issue of course implementation so who should be implementing this what are the kind of resources that you need again you know how then you would monitor and report on your work and that's really important and that goes back to the issue of data so you will see in the guide there's a lot of attention that is paid to this critical issue of data so again these four steps of approach is absolutely not prescriptive we're just trying to you know propose a pattern for action and you will also find in the guide in the last part that this methodology has been tested so it's not we're taking talk about something that just came out of our mind and just aspirational but actually it's been really tested in four countries and what you're having the guide is the outcome of those processes in those four countries and what is it that it came up with so it's really we try to evidence you know clearly the end purpose and outcome of doing this work so and I will finish with that basically having said everything I said this is having an impact on the way we work in Iowa I mean as you know we are the UN migration agency we are on on the verge indeed of having a very important new framework for our work which is a global compact on migration just a few days away from from now we're going to be embarking to a week in Marrakech for the migration week and and basically you know this means really for us as Iowa that we need to kind of change very much the way we've been working so far and really being able to articulate much better what we do in terms of understanding better what is what are the development contexts in which we work and how that should be influencing the way we program and design our interventions but as well you know what is our development footprints as an organization so what is it that we do that actually also have an impact on those longer term development you know processes or contexts so we are particularly right now working on defining an IOM-wide or institutional strategy on migration and sustainable developments and we really want this to be an important entry point to engage in very meaningful partnership with our UN colleagues and all of that of course happening in the backdrop of the implementation or rollout of the UN development system reform which is really going to help us as UN to work in a more joint manner so our role and now that we're doing all this work is really to help ourselves to plug in a meaningful manner in a helpful manner for the rest of the UN system our specific expertise and what is it that we can actually contribute to so and also we want to be a bit more articulate in terms of how we you know impact the implementation of the SDGs so being able to communicate that and make this more visible to to to our membership and to our partners so really it's a declaration of interdependence and partnership so we really see this for IOM as an entry point for maybe some useful new ways of working and we are very excited about it and I would now you know hand down the floor to Simon Giger who's the the head of the global program of the Swiss Development Corporation on Migration and Development and I think you know the Swiss government through the SEC has been really one of the pioneers in you know putting this vision to the fore and then I'd like to thank you very much for that. Thank you Cecilia and I also would like to thank actually IOM to organize this launch today when we are on a mission to Brussels so it's a nice coincidence to be here I feel that all the important things have already been said so maybe I just want to re-emphasize one point and then say a few words about why Switzerland so for us that the point of the narrative I think that's something that we are all concerned about and that is important for everybody and the work that we have been partnering with with IOM for a few years now is really also a way to counter that narrative so it's really to see migration as a phenomenon that is neither positive nor negative it's neutral in itself but it's up to us to make the best out of it and I think this guide will hopefully make a contribution to that it's about effective migration governance it's about managing migration it's about acknowledging that migration is here to stay so let's all work together to make it to make it work so why Switzerland some of you may know that Switzerland actually is one of the champions in a in a in a whole of government governance approach towards towards migration so we started this almost 10 years ago and we have now a functioning system involving all the all the the the relevant ministries and agencies and we meet regularly and we talk about migration issues and I think that's part of our success story and that's part why in Switzerland so far we still have a red or nuanced I would say a discussion about migration issues so I think we are well positioned to to partner with you on this work and then a second point why Switzerland it's really because it's a practical guide and we are usually we like to be practical the on the populations in in the partner countries so we all want to have a snack I guess and something to drink so I think everybody is here very much and I hope that you will also take these guides with you and basically spread them in in your organizations in the partner countries and and hopefully then on one of my next missions I will see it on the table of some government official thank you very much thank you very much appreciate it so do you have questions because I think you know this is not meant to be us just preaching you but we you know we really hope this is as well a dialogue and so I was wondering whether some people in the in the audience had any comments that you'd like to make or questions potentially so the the floor is open thank you for saying that okay thank you for these wonderful presentations I think very timely my name is Peter Roy and I work for the European Commission for many years and I'm extremely impressed by this work the presentation I have to read you know they say the commission the European Union is working very slow it's true but when it moves into a certain direction it has a certain impact and I remember that the first communication by migration development was in 2005 and I'm extremely happy to see that along the way you know people try now more and more to understand actually what does it mean and I think what is the important thing where we are now is that we are really thanks to all the good work and I really also like the famous rich government for this because you invested in this already eight years ago I think we now reach a stage where the IUM is part of the UN we reach a stage where we have the development goals we reach a stage where everybody recognize we have to act on migration and I think the approach is really an interesting one just one observation I've been working in the migration area for many many years I've been working with Commissioner Malmström for many years but we have to realize that it is not migration looking at all those areas I think it's extremely important I mean I guess many of the people around in this place have a migration background but I think in this room a criteria for success could be if in three years from now we have the people from DG health we have the people from DG environment we have the so that we look they look from their realities to what does it mean for people and and also I'd like to add maybe DG aggregate I'd like to talk about the external action service I mean and I take it upon me so give me copy give me a number of copies of your of your leaflet and I'll make sure that all of these directorates and I happen to know all the people that are relevant for you will get a copy of your publication so thank you very much this is really music to music to our ears any any other volunteer for comments or reflections no I think we we are okay so thank you so much for for coming and um yeah let's take the opportunity of having food and drinks uh in front of us maybe to continue the the dialogue in the the countries where you buy with it you didn't mention them so you want to know the the countries so these are Ghana so we've mostly worked in in countries in the in the global south so mostly in African countries as a matter of fact yeah so you will see it yeah in there but we also I want to say that we are pioneering this through the different regional dialogues on migration that IOM is associated with so we've been working with the League of Arab States we've been also working with the Puebla so I processed most recently and we're trying to really mainstream the usage of these guys throughout the regional processes on migration that exists so we're trying basically to obviously we are indeed focusing as I said on the national as well as the local level but also the regional level which is a very important piece so yeah that's that's also what we are in the making okay thank you so much thank you for coming


Hello and welcome to this session. This is Professor Farhad and this session we would look at transfer pricing methods. This topic is covered in international accounting or taxation course as well on the CPA and ACCA exam. As always, I would like to remind you to connect with me only then if you haven't done so. YouTube is where I house my 1500 plus accounting, auditing, tax and finance lectures. This is a list of all the courses that I covered, including CPA material. On my website, farhadlectures.com, you can find additional information such as notes, PowerPoint slides, multiple choice through false questions, exercises, which are quasi CPA simulations and 2000 plus CPA questions. Please check it out. So let's talk about transfer pricing methods. So you have to understand the method that we set transfer for international transaction is the same as local transaction or the same as domestic context. And this includes cost-based transfer price, market-based transfer price and negotiated price. So if you know anything about my lectures, once I have a list, I'm going to go over each item in this list separately, starting with the cost-based transfer price. And as the word suggests, it's cost-based. Well, what do we do if it's a cost-based? What's going to happen? The first thing we're going to do is we're going to assume there's no external market. Simply put, the intermediate product that we are selling between our subsidiaries or from the subsidiaries to the parent or from the parent of the subsidiaries has no external outside market. And it has to be processed further until it's finished goods. Once it's finished goods, it's supposed to have to have a market price. So this is the assumption when we use the cost. So the transfer price is based on the cost to produce the service. So it's cost plus markup, obviously, but you start with cost. Now, the question is, how do you determine the cost? Now, I'm sure you took a managerial accounting course and you took a cost accounting course. And remember, you can compute the cost in different ways. You could use variable production only, which is variable cost. You could use variable plus a part of the fixed cost plus fixed cost production cost. Or you could use full cost, which is either based on actual or budgeted amount, which is the standard amount or the actual amount. So those are the three costing system. And that's depending on which method you use. It's going to determine the final price. Okay. And we're going to see what are the pitfalls and advantages for each method. So remember, the transfer price include a profit. So in addition to the cost, you notice you include some sort of a markup or a cost plus to come up with that price. So it's not like only cost. Okay. So cost-based system, they're easy to use because you just have to determine the cost. But the question is, which cost are you measure? Which cost did you use? Now, what is the problem to be more specific? What happened sometime? The inefficiencies in one unit may be transferred to other units. What does that mean? If I'm saying, I'm going to sell you my product based on cost. Well, what does that mean? Well, it means whatever it's going to cost me, I'm going to transfer it to you. Well, that's going to give me no incentive to control my cost because you are going to pay me the cost. So that's why there's no incentive to control the cost. So you have to do, to be more efficient, you have to use a standard rather than actual cost. So you use the standard. What does it mean standard? Standard means this is how much it should have cost you to produce this product versus actual. Actual is this is what it actually costs you. What does that mean? It means let's assume you are producing a unit, whatever that unit is, you are making a pizza, okay? Just to make it simple. For the pizza, you need sauce, cheese and dough. And those three things, sauce, sauces, cheeses and doughs, they should cost based on your costing system, they should cost $3. Now, what happened is when you produce that pizza, it costs you $4 because you might have lost some cheese, you had to replace the dough. Whatever the reason is that the actual was higher. Well, guess what?  You cannot assume your cost is four because it should have cost you $3. And this is called standard costing. Again, if you took miniaturial accounting or cost accounting, but I'm going to have to assume and you should know the difference between standard and actual cost if you are looking at transfer pricing. So that's why standard cost would alleviate this problem. The second method is market-based price. And the market-based price is, as the word suggests, is market-based. Simply put, I'm going to pay you what you are offering me, the equal value. Here we assume that there is a value. There is an external competitive market because if there's no external competitive market, how do we know what the value is? So here we are assuming there is an external market. And this method is consistent with the responsibility accounting and the philosophy of decentralization. Decentralization, this is misspelled, decentralization. Okay. So market-based system avoid transferring inefficiencies of one division or subsidiaries to another, which is a problem associated with cost. And a market-based, guess what? I'm going to sell you the product based on what you can buy it from somewhere else. Therefore, I'm not transferring my extra cost to you because the market is efficient. The market determines the price, not my cost, not what I actually incurred. Okay. And this way you would help ensure divisional autonomy. This way you are really working with the decentralization is being used properly and this way you can evaluate the subsidiaries performance, which is the topic that we're going to be discussing next, not in the session and the next session. It's the incentive. It gives you a good incentive to be efficient. Okay. So the efficient working of market-based system depend on the existence of a competitive market and dependable market quotations. So simply put what you are saying, if you can go out to the market, you can ask a third party supplier and they can give you the price. Now, for certain items such as unfinished goods, okay, which is intermediate goods, there may not be any buyers outside the organization and there's no external market. And that's the problem with the market, with the market-based is you are producing something. It's not a final product. It's a product that, for example, you are producing a unit that you don't sell independently and no one sells independently, but it goes into another product and that product is sold independently. So how do you know what that unit is? What's the price for that unit? So that's the problem with market-based transfer pricing.  This is how it works. What happened here is you would say, my market price is the starting point and my cost is the lower boundary, lower boundary. What does that mean? It means here we go. If we say this is the market price, so you start to negotiate and this is the market price, the highest and the cost here. So you'll try to figure out a price in between, okay, because you cannot be above the market because the person goes to the market and you cannot be below your cost because, you know, then you are losing. So it's someplace in between the market and the cost. Now here it allows subsidiaries managers to bargain with one another with freedom and assuming the parent company gives them that freedom. Okay, it's important. There are external market as well because you need to determine what's the external market because that's your starting point to have objective information for negotiation. Now, what are the pitfalls for negotiated prices? One is time-consuming.  Then personal issues would get involved. Also, another pitfall of this is well, what's going to win? The person with better negotiation ability rather than the economic cost and reality and that may not be efficient for the overall company. So those are the pitfalls for negotiated price. Now the parent company can intervene to kind of speed up the process or make sure everything is fair, but that defeat the concept of the centralization. So if you want to summarize all three methods, okay? So management accounting theory suggests that different pricing methods are appropriate in different situation. If you have a market-based product, well, that's good. That's the best, okay? So you have a market for the product and there's perfectly competitive market, which is you can have the price and there is interdependency between the related parties are minimal. So basically if I can go somewhere else, if I don't like, if I don't like your price, okay? Otherwise if I can go somewhere else, then market price is not efficient and there's no advantage of disadvantage of buying and selling the product internally rather than externally. So whether I sell it to you or to somewhere else, it's the same thing. So in theory, market price is the best as long as you have a perfectly competitive market and I can either sell it to the outside or to the inside external or internal parties at the same price. Market price based on full costing can approximate market price when the determination of the market price is not feasible. So when do you use full cost or costing is when you cannot find the market price. So what do you do? You restore to cost. You go with cost plus 10% or cost plus 15%, okay? Negotiated price, okay, by buyer and seller rather than this is a good method because it's not being pushed from the above, okay? It gives you the advantage of allowing related parties to maintain the decentralized authority. So negotiated price is perfect for companies. They want to maintain, they want to encourage decentralized authority. Now in the previous session, I talked about decentralization and why is that important? The advantages and disadvantages of decentralization. In the next session, I would look at the objective of international transfer pricing, which is we looked at it very briefly in part one, which is performance evaluation. In the following session, I would look also at the objective but from a cost minimization process. As always, I would like to remind you to visit my website where I have more resources than just lectures for all these courses. And I suggest you invest, subscribe. It's minimal and it's a great investment in your career. Study hard and stay motivated.


Welcome to Toffy TV, it is the Everton News Daily. Everton's public consultation got on the way this morning at the Blue Base by Gooderson Park. We were down there, spoke to Layton Baines and John Joe Kenney, Filtiag Ylchwp is there as well and Graham Sharpe and it's a really, really important part of the process of moving to Bramleymore. It's vital that you either get down to one of the road shows and fill in your questionnaire or you fill it in online and it's please, please, can't stress it enough, it's not one pair family. If you've got family of five Evertonians, make sure five of them fill it in. It literally takes two minutes but it's important and it's an important part of the process and it'll give Everton a nice kind of sample of people's feelings about the ground. Obviously our thoughts on it as fans, it's really, really important. It's also to do with the city as well. It's not just for football supporters in the city, it's all about regeneration and bringing money into it. It's a really, really simple process but it's one you all have to take part in. Don't moan about the outcome or moan about anything if you haven't taken part in it. But everyone should want to be involved in it because it's going to be, I think, the biggest decision that we are ever part of as a fan base where our football club is concerned. We're talking about moving a stadium for most, for all of us probably now. All of us, we haven't seen ever move stadiums so it's a huge thing. And for a lot of us, we won't see ever move, sorry to deep pressure, but we won't see ever move stadium again once this takes place. So it's vital that we are part of it and it's vital that you have your say. Can't stress it enough.  If you don't want to move to Browniemore, you've got your opportunity to say why you don't want to move there. There's boxes for if you disagree with the move. Put your thoughts in the comments there as well and have your say. That's all I'm going to say on it, but it was good today. There was people there and obviously the likes of Sky Sports were there as well because it's big news. It's big news and it's underway. Now the public consultation, it runs from today, the 15th until the first of December. So make sure if you can, you get to one of those road shows or like I say, fill in the online form. Neymar has been speaking about Richarlison. He said he's going to help him get even better than he is now. He's been really impressed with the Everton striker, both for Everton and for Brazil. Neymar said he'll do everything he can to help Richarlison improve as a player. He said he thinks he's got a big future in the game. Brazil playing Yorogwai at the Emirates of course tomorrow night. Ringing endorsements from Neymar there for Richarlison. Again, that only reflects good on evidence. It comes back evidence name and the spotlight. It comes back on us. That's what we want, don't we, our name and our brand getting bounced around the world. Someone like Neymar who's massive is talking about us, then it is a good thing. Forming Everton captain Kevin Radcliffe, the most successful captain in the club's history, feels as though Everton have their identity back as a club. He's really enjoying watching Everton under Marco Silver. He feels as though the connection is back with the fans and the club has a path to follow. I totally agree with him. It does feel as though the identity is back at the club and it does feel as though the connection is growing between the team and the fans. It does feel like we're following a plan. That's what we've needed. It's been missing for the last few years and it feels as though it's getting back there. The introduction, like you said, Marcel Brand has been massively influential in this and obviously Marco Silver as well. Those two seem to be working closely together. Silver taking care of the stuff on the pitch. Brands really involved in that as well, but also the stuff off the pitch. The region of the academy and the scouting system and everything else in place on the football side, things do seem now to be moving forward. So I totally agree with Kevin Radcliffe on that. Finally, for this news daily, the Premier League clubs have agreed the payoff to screw them up. I'm disappointed, but I suppose it was always going to happen from a business perspective. I guess you'd argue that he's increased the benefits to the Premier League football clubs. The money's bigger. The sponsorships are bigger. So from their perspective, it's a job well done for them. From a fan perspective, I feel as though he's reduced the competition by favouring the big six. He's just broken the deal, which means that the top six get more money than anybody else from the international right, which I think goes against everything that the Premier League should stand for, which is meaning each one of its members is treated equally. That isn't the case, and that hasn't been the case during Scudum or Reign at all. The Premier League have tried to argue the claim away saying he's going to stay on as a consultant. So the £5 million golden handshake will actually be his salary over the next three years. That he's going to be a consultant for. That added to the £27.5 million he's already taken as part of his job. So £32.5 million. Not bad. Not bad for someone who basically is an administrator. There you go. Not bad work if you can get it. If you haven't subscribed, please do so if you want more videos. Get over to Patreon. And if you've got a speir cwyddo, sponsor us or anybody else who is doing the sleep in, the goodness and sleeping forever in the community tomorrow night at Goodison Park. We'll be doing some live streaming from the event and hopefully catching up with David Unsworth and maybe some of the under-23s who are also doing the sleep out of Goodison. Thank you very much for watching. See you soon on Trophy TV.


Flu season is here, and service members and their families are getting ready to prevent the spread of this virus. Marine Corporal Marcella Diaz de Leon tells us more about how we can prevent getting the flu. Fever, headaches, and sore throats are just some of the symptoms of influenza, commonly known as the flu. Although everyone is at risk without vaccination, some families are more vulnerable than others. The flu can be devastating for a lot of families, especially those with elder folks and with young children, so it's very important to get the shot, and we certainly encourage it to happen earlier in the season. Commander Whiting also says that other ways to prevent the flu are by washing your hands, using hand sanitizer, having a good diet, and staying hydrated. Reporting from Okinawa, Japan, I'm Marine Corporal Marcella Diaz de Leon.


Hello everyone, my name is Onaral and I'm with my friend with Akash Star and I am a Fedora website team's member and also mind-shifting representative. Please Akash, introduce yourself. Sure, thank you. So I'm a websites and apps objective revamp lead, at least for now, and I'm also working in the Red Hat CPE since sometime. Okay, thank you. So today's we're going to talk about the Fedora graphics and what are we doing it in secretly with my friend with Akash and we just did something nice and hopefully everyone is going to be like it. First and first, what do we plan? Our plan is basically is we want to importing apps from Impra to recreate Fedora apps directly with the modern futures. So with that, we're going to have more visually appealing aspect of the website. So today's our Fedora apps looks like this right now and we want to make this much more beautiful and much more nicer. And in the first beginning, it was made by I believe Ralph and for a long time ago and he made an awesome job and he just create this for the apps charts and it's pretty much you can if you want to access anything from Fedora world, you can just click this link, which is Justin just hit it. And it is an amazing website to see what do we have in our infrastructure and our website as well. But as times passed, it is just a little bit become older and it needs a little bit of a revamp as well. So our plan is basically we want to avoid equity as much as possible and stick to native JavaScript. And also we want to obsolete this old JavaScript info with toolkit, which is the right now is the graphics has been generated by using that library. And it has been not maintaining over the last six years and which isn't a problem. And we want to of course implementing some sitting templates, but it seems to fitting that if we can just, you know, extend this ability and make it much more nicer, of course. And if you want to pay a visit, you can just share the scan the link or you can just click it over there in the chat as we shared and thanks to Justin for that. And let's let's move along and see what is going to happen in the next future in our graph stuff. So I'm going to pass the words to Akash so you can explain our ideas as well. Thanks. So our idea is to build upon the existing federal apps directory and to use the ideas that has been there for a while and build upon them to create something which looks way better is interactive and has great animations with itself. And we want to add more modern front end content. So for folks who are accessing it for mobile phones or tablet devices or wherever else they would be able to access it just fine. Also to add advanced interactions using elements which have been generated either from JSON documents or from SVG images. More about that in coming slides and some custom pop ups, click events and what not to make sure that it all feels like an application and not just like a simple website. And it's not just about apps directory, we want to create more charts like this for all the projects that we have inside our federal universe. Moving on to the next slide. Let's talk about the progress that we have been making so far. So our progress, yes Akash, we want to talk about our progress. What are we doing? So first things first, we have today, thank you to Marie for creating this amazing organization chart and we want to use this chart to give some life because this is an amazing chart. This is basically the entire federal organization and this is how we work in this federal basically if you just take a look at the chart and this is an amazing one and this has been created very recently in the last March 2021. So we can say it's pretty updated. So we're going to of course, going to give some life on that hopefully maybe and it's going to be an amazing as well. So what technology we used? Just for creating these new charts, we're just using some bootstrap and we find a new chart called Apache eChart and we just want to take a look into it and see what we can do and what is the ability can happen. And of course, we don't want to use jQuery but since we're just getting into it and we just want to warm up the idea and we're trying to implement it also we are also testing as well because we're also exploring this new idea. It is also new for us to creating charts. And also of course, we did it with the love of of course with my friend. This was an amazing work with Akash. I have to say thank you to him right now in front of everyone because he helped me a lot and as well and also we did a lot of teamwork. It was an amazing work to see that come to life today and also represent and present it to everyone here in the chat and in federal community and also in everyone else. So let's go to the next one and picking the coordinates but this one is going to my friend. So Akash, please can you explain to us what you're going to do with these coordinates? Sure thing. So we're creating charts using the Apache eCharts. There is a specific graph library that we make use of but in order to make sure that we do it by ourselves and we have the tailor fitting minor precision to details to where exactly our elements would lie and how would they be connected with each other. We had to go into the details about where the colors what the colors would be what the angles would be and where the coordinates are going to lie. So these graphs can load up from JSON documents with a custom schema where you tell what that element is about where is it going to be with the reference positions and other attributes as well. Then you it kind of sticks to the technicality of JavaScript. I cannot expect a designed person to understand which kind of acts like a barrier for a person who wants to design stuff but they don't want to get into the technical details of it but it also opens up the possibilities of finer adjustments and you can pinpoint your location on a graph. So be it zooming or zoom out it's kind of going to stay the same and collaboration can be challenging and the technical nature is still a thing. Now on the next slide we'll explain how we go ahead and solve this over to you. Yeah of course of course and one quick question just come up to us is it bound the HTML IDs? That's the beautiful part. It doesn't. We're just using our JSON coordinates and also our next thing I'm going to explain to you is going to be much more amazing and we just want to lower the barrier from this technicality between design team as well and let's see how it's going to be. We just want to make some interactive SVGs. How do we want to do that? Well a design member can make the chart anything it could be of course and we want to give some life of that and as you can see in the picture we try to do some little bit of a scenic peek and we want to show the bigger picture later on and we just want to need label on the SVGs on the groups we want to make it alive and we want to also make look as it is so people can open that and this can also interact with it. So thanks to Marie as we speak before she made this amazing chart for us already and me as a technical guy as well I can give this chart as a give some life yes I'm this is going to be a little bit people may remember that giving a life stuff but it's going to be another joke we're going to not talk about it and also going to give much more greater flexibility and opportunity because that will be an amazing and of course what we want we want to collaboration easier for everyone because they a design member or non-technical person so we can just draw an SVG for us and we can just try to make it compatible for our charts automatically so we don't have to even do so much work it's lowering our job flow you know our workflow because we don't need to do so much stuff we just load the SVG as it is and it's going to be interacted already what we do is only we just need to do some little bit of a configuration and it's going to be easier for a developer and easier for a design member as well or if they want to do something much more custom and a little bit of a different we of course have another round from Jason Way to creating a chart entirely from Jason to pointing A to B location and trying to do this ankles and all the coordinates where it is necessary and I remember that Akash I think he's going to say that I think he worked a lot of mathematical calculation on this one of course it's going to be amazing as well so let's move on to the next step so in our going to demo we're going to show you what the what the heck did we did and what is our result what is our final situation we're going to have it I think first is going to my friend Akash is going to show his charts and I'm going next I'm going to show my charts all righty so I'm going to ask you to stop sharing your screen so I can share mine first and there we go let me know what's the screen is visible it is visible to me immediately sure thanks so this is some kind of an alpha or pre alpha or something which comes way before pre alpha if you ask me version of how we want to implement things but it is representative of how things would be like down the line of course if you don't like how it looks like feel free to join us and would be very happy to include the changes that you suggest so talking about coordinates oh my god I had to literally place it in the origin then move 50 units top of it and then you know contact the angles in a way that they seem fit well of course you can zoom in and the way they work is in a uniform scaling manner and there is a lot of interaction with it as well we are not designed folks and something in a design point of view would definitely help us to a greater extent and that is something that on our output explain but to this point what we can do is we can relate an element with another one it doesn't have to be a circle and it doesn't have to have a single color I might even you should go ahead side notice as you can see everything this could be a circular but we find the trick to change the circular objects into the different object as well with the using still the j-segment and we were definitely happy to explore this more ideas as well please Akash sure thanks so as we see this chart for team we can definitely go ahead and replace these with I don't know stars with images of people that these are talking about and with description that they have the possibilities for going creative with this is almost endless and just because that we are loading these up from a json dictionary we can potentially add the changes in real time and you know have them loaded up real quick yeah just f5 i'm done yeah so that's pretty much about how we would like to design using json it's kind of a difficult way but now oneralk would explain how he would you know make an sveg come alive as if it were a frankenstein sorry about that go ahead oneralk yeah I don't want to use that word but I think it's going to be a stick over there all right all right no problem no problem let me share my screen okay let me share my screen quickly and see let me show you my surprise as well and of course we have to do a little bit of a thing first okay so let me share my screen and this is gonna come alive it's gonna come alive so let me switch and as you can see we are in the organizational chart in the in the same manner so as you can see it looks like a normal sveg right like nothing is happening it's just there beautifully and then we want to make some interaction can we do it of course we can do it so let us move my mouse a little bit and if I move my mouse as you can see I can also do the same interaction as we did on the on the other json ones we did before so we can see that we just give some life to all these graphics and svegs to alive so after a little a lot of research and technical difficulties we had it before we figure out how to make gives give these svegs alive and we can make them interaction and clickable and also pop up the whatever is necessary we can change the color we can do whatever we want we can zoom in because everything is possible and thanks to our library we find out and the knowledge we have not right now we can just give more opportunities as you can see when I click on it it's also show the names and the titles and labels it just for like of course exemplary purposes to show everyone they can of course improve this idea and make it better and some of them doesn't have the clickability because I didn't implement it deliberately to say that because we want to just show you how easy it is as well I would like to do it as well so first things first I would like to explain once we load the sveg we can just do basically something very easy so let's just focus on the addition so as you can see addition doesn't have any option it cannot be clickable right now we want to give some life on this so I don't want to rebuild my JavaScript I don't want to change anything on on the on the html stuff and we just want to change this one make a live how do we do that it's actually fairly easy all I have to do is I just give some attribute uh which is on the svg and let me also share my screen again on the different one so that I can show that how is it done as well let me go to my svg chat all right so I think everyone can see that I am on the inkscape it's just a good old inkscape everybody's probably know about it sorry it's visible the screen is visible yeah thank you so much so let us zoom in a little bit and let's just say so when I click for the council I can see you can everybody can see that we have a name and this name is our magic so when we give a name into the box we want to give some life we can just click on this let's just say I want to click this object of course it could be needs to be ungrouped because sometimes the speech is uh well okay now I click it so let me add a new value as well and I'm going to say additions or let us say that or for a fun sake additions for next let's just have some fun it doesn't matter we can give any any value but just for the demo purposes let's just give a nicer name so my job is done now I am just stop sharing my screen for a little bit I save the svg let me copy it the proper positive proper folder quickly as I'm just copying the svg into the next level html page I made it let me do that make sure it's also saved as well it's saved and copying all right so let's open up my page again the beauty of this approach is the fact that the design team can be as wild and as creative as they can there is nothing holding them back in the engineering point of view all they need to do is identify the elements in the svg distinctively and we can automatically pick that up and you know we can create elements which are interactive on the web page something he doesn't know enough she might just break it for a little right now come on anyway I have dropped a link to the GitHub repository that folks can take a look into we can move on with the presentation you know yeah yeah sure sure yeah oh just one tiny moment before I have I just want to make sure I didn't make a mistake and it doesn't work yeah we can move on coming to the questions in the meanwhile will it work in links if links is the text only browser if I'm getting it correctly unfortunately it won't because we need a browser which has which runs shower script and yeah well links I don't think it runs shower script so it won't and yeah talking about how you can get involved in this thing next slide please yeah so the way you can contribute would obviously be to first have an historical context about what we have been doing and how the foundation has been built up the documentation checking out the documentation page would definitely be one of the first steps we have weekly meetings on every Tuesday so feel free to join us there we'll be adding the links to them in the next slide and then you can introduce yourselves to our telegram and IRC channel we're always active over there so feel free to join us and if it's the first time of you folks contributing in Fedora then I would definitely suggest you to follow the join workflow as that can help you to expand your perspectives to a greater amount of teams or sub projects that you can definitely be a part of talking about the repository well that's right there impression as we like to call it if the name doesn't sound good we definitely go and change this down the line who knows and this is how you can contact us we're on matrix as well as on liberal chat and both of these chat rooms are being bound together so join any one of them and you should be just fine and then we have a documentation for our community revamp in the link and that's the mailing list that you definitely want to keep posted yeah thank you feel free to ask your questions we still have a solid seven to eight more minutes before we can definitely go on to some other exciting talks and the polls are still active so feel free to answer them as you go on I was able I would like to solve the last result I would like to show you right now since we have already finished it as I said I changed the edition I edit some words and look up I changed it maybe something was doesn't like me but let me just show you my screen again to show the result we didn't forget you ever you didn't forget everyone so as I said I just edit edition wasn't working before now we can see it works it's also now we can now allow also fest go to and we can just do more and more as well so the only thing that was required was not to be touched in a JavaScript or HTML or CSS side of things but to edit the SVG add a specific name to an element so that it is distinctively recognized and lo and behold it becomes interactive and this can not be done with just the graphs it can be an image with certain elements inside of it that's the beauty of this library and the more we go on into the documentation the more we'd know about it but frankly documentation is something that we like to avoid more of a video stuff more of a watching anime and crying our eyes or kind of stuff but surely feel free to join us well full documentation aspect sometimes it could be sometimes sometimes it could be a challenging I mean it was a little bit for us as well but we will manage to handle that but as I said loading an SVG is and trying to do something more about it it's definitely interesting to us and I hope it will be interesting to everyone in here and wants to hop in and try to try it out all right so there's another question is there any layout algorithm in JS layout algorithm is something that each art is using in order to make sure that they position their graph that link between the elements so that is something that is you know abstracted by the library that we're using so all we need to know is the fact that we're using that specific library and depending upon the approach in which we want to make this happen either it's a JSON I mean if you are very specific about where the thing should be or the SVG if you want to you know go all out into imaginative designs of SVG that approaches can be a bit different see you're on Justin thanks for being here and for correcting the dots just for adding to that is we all need we just need to know the node IDs of the JSON in the JSON file or you can add it in your JavaScript file as well basically we need to know the ID of the node it could be a number it could be a name sorry string it could be anything so if you just say I would like to connect A to B what I have to do is basically in the proper node let's just say connection section let's just say I don't remember the exact name for now we're just going to say this A is needs to be connected to B so the chart is going to be A to B so the color of the between on the lines could be could be is going to be basically the first one is getting into it but we also think about it as well we can change that color into the something in and entirely custom shape and thickness and curve in this we do try to discover a lot of stuff and into it and it's definitely possible and it's definitely tested all right so before we wrap this up let me go through the poll results there are a lot of folks who have voted that they are already a part of the website's an objective event feels really good about it and the folks who are not they're very very willing to join and the folks who are not planning to join maybe they will in some years or some months who knows they feel like that yeah this is some awesome stuff that they would need to be a part of so why not let's keep that door open and there are folks who are really really interested to contribute to photographs it's partly our fault we did not have a negative response and that is how we get to know that well one thing is for sure we're definitely going to get a lot of issues and pull requests hopefully and a lot of ideas probably needs to be in the place and there is a lot of work to do I mean we understand that but we just would like to show you the new opportunities new possibilities because we are having a lot of websites and we would like to give some love to our main center section of the federal apps it's totally important it was there for a long time and it needs to be revamped now we have organizational chart we would like to give some life on turn which is was the idea but the first idea definitely come up thanks to Ralph being in the in the past he created amazing apps website and with this idea we did a lot of stuff as well thank you everyone yep thank you so much for being here


The Lagos State Special Offences Court in the Keja area has adjourned till Tuesday, July 27, 2021, the alleged child molestation case against embattled nollywood actor Ola Rewaju Omi Inka also known as Baba Ijesha. Justice Oluwa Tony Taiwu adjourned the matter till tomorrow after the council for comedian Adi Kola Adi Konya also known as Princess, played primary evidence against the embattled actor. The court sent reporters out before playing the video clip which was said to have captured Baba Ijesha while allegedly molesting a 14-year-old girl in the care of princess. Baba Ijesha actress Yabo Oju, among others, were in court as princess, told the judge how she met Baba Ijesha and how the actor allegedly sexually assaulted the minor. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.


I come from a very poor country and almost automatically one has to be interested in poverty and inequality as a professional economist. I specifically got interested in this idea of aspirations and behavioral issues for two reasons. The first one is this claim a lot of people make about Ethiopians. And that is Ethiopians are considered particularly poor Ethiopians are deemed fatalistic. The idea is that they seem to display these acceptance of their state or they do not seem to proactively attempt change to change their future. My premise however is that Ethiopians are not necessarily more fatalistic than any other group of people. So I thought there must be another explanation which appears as fatalistic but is driven by another mechanism which led me to aspirations. The second reason is the fact that a lot of development, analysis and practice focus on opportunities. The poor are not progressing because they lack opportunities. They don't have capital, they don't have education, they don't have access to markets. They don't have access to public services and similar characterizations of opportunities or limits to the opportunities they have.  But the perspective they give in my view is partial for two reasons. First, even when there are opportunities, there is now enough evidence that they remain unexploited. Second, and perhaps more importantly, opportunities are not static. They are created. The development process is nothing else but the creation of opportunities and if one wants to summarize it. So it is important to look at the problems people, particularly the poor, face in exploiting opportunities and the process of creating opportunities and the aspiration framework allows us to address some of this. There are a number of challenges in designing such a study but I'll focus on two because they are particularly relevant to the empirical side of the problem. We can summarize them as measurement problem and the identification problem. In terms of measurement, the key challenge is that we don't observe aspirations. They are goals people set for themselves and they generally do not reveal them. We cannot observe them. There are two ways of therefore getting at aspirations. The first is to look at how people behave, their choices and try to infer from the choices they make their aspirations. This is problematic of course because then it is very difficult to explain their choice in terms of their initial aspirations because now we are using these choices as indicators or measures or revealed aspirations. So this interpretation challenge comes into play. We cannot explain choice. In fact, this is related to more generally the revealed preference approach in economics. So what is the second option? The second option is to actually ask people what their aspirations are. There are problems here too. So the first one was to try to get revealed aspirations. Now we get declared aspirations and the quality and accuracy of these declared aspirations may depend on the characteristics of the subjects themselves or the instruments used to gather this information. So both have challenges and the solution we opted for was to actually ask the people but before we do so we systematically validated the instrument we use for that purpose. So that was the first challenge. The second challenge is the identification challenge with identification problem. And the identification problem is a problem essentially because aspirations and choice are always existing together in the person. So how can we separate the two and try to use to explain one in terms of the other? And all this of course, for instance, a more aspirant person could be more successful or a more successful person could be more aspirant. So what we need to do is to introduce some change or intervention. We need to observe change and that change has to be independent of what is existing there. And what we have done is to have a series of successful, to document success stories of people that are of similar nature to our subjects. So rural residents who were successful without support from the government or from external individuals and so on prepare documentaries and use screening these documentaries as an exogenous, an independent intervention to affect the aspirations of our subjects. We also have accumulated a panel data from a resource and that also would enable separation of the past from the present and using these two attempts to solve the identification problem. Well, three basic outcomes. The first is that as expected, people's aspirations depend on their life experiences and the circumstances within which they leave. And the broader mental models, they develop on the basis of these experiences and circumstances. How they see the world, how they perceive themselves and different economic opportunities they had and exploited determine their aspirations, the nature and if you like level of their aspirations. That's the first finding. Second important finding is that the poor are less aspirant. The poor have lower aspirations which means that the incidence of poverty, the frequency and depth of poverty would among other things make people less aspiring. They have a narrower view of the world, a narrower perspective on their opportunities and their abilities. And third, the fact that a person has a lower aspiration is correlated with some of the choices he or she makes and particularly in our rural farming communities. People with lower aspirations are less likely to use modern inputs such as fertilizers and improved seeds. They are also less likely to send their kids to school. And there is some limited evidence that nutritional outcomes of their children may be negatively affected if they are low aspiring. The ultimate result, poverty, they remain poor so poverty and inequality persist. Well, a lot of growth is happening in Ethiopia for the last 10 years or so and this is bringing about losers and gainers obviously, some gain more out of that than others and a key lack of understanding or lack of knowledge at the moment is to what extent the losers are losing and what can be done about it because the different measures of inequality are increasing in levels and it is in some sense an outcome to be expected when there is rapid growth so the trick is to try to understand the channels and try to provide appropriate solutions including safety nets, retraining, education. Industry development is not my area but a general point. I think a transforming economy should have a dynamic industrial sector. One of the challenges of having this transition is how to create a significant amount of employment within industry which is getting increasingly capital intensive. We have a large and growing population, a lot of it is still in rural areas. There would be increasing productivity in such sector would lead to released labour and the industrial sector has to grow faster and absorb more. That has yet to happen and that is an important challenge which is to have a growing industrial sector which can at the same time create employment and help reduce poverty and inequality. So if you look at the numbers that grows numbers, the initial of the last say 12, 13 years initial grows came from agriculture partly in the form of recovery and the fact that it is the largest sector until very recently means that that will have a significant impact on average growth. So it drives, drives and grows. Of course there is a second element which is that it provides food and raw materials to other sectors. The linkage particularly with industry is not particularly strong, it is there but that in part reflects the limited productivity of both sectors. So in the future with more dynamic industry, more demand from agriculture will emerge and the interlinkage will strengthen. The key is that a lot of the population is still in rural areas and what happens in agriculture is not only in terms of growth but also in terms of well-being of the population is a significant component. So at the personal level, the perspective, the personal perspective I have about wider is that it is one of the few institutions which does very good research in standard topics but also at the same time allows significant flexibility in terms of entertaining innovative, novel ideas. A lot of issues that may not be discussed or researched in standard economics departments are dealt with here and coming from a poor country that's a very, very important dimension. For instance, it was one of the first places that we actually presented these aspirations at the aspiration project when we were at an ideas level. There was very little empirical support and it's one of those few, therefore, institutions which entertains these innovative ideas and the development problem is protracted and complex and we have to be able to look at all possible options. There is no one formula of dealing with or bringing about development so we need an institution like wider to help that process along.


Welcome to the electrocardiogram. This learning object relates the cardiac cycle to an electrocardiogram. The electrocardiogram, or ECG, measures electrical impulses across the heart. The various waves of the ECG represent different stages of the cardiac cycle. The P wave represents atrial depolarization. Repolarization occurs just prior to contraction or systole. The QRS complex represents ventricular depolarization. Depolarization occurs just prior to contraction or systole. The T wave represents ventricular repolarization. Repolarization occurs just prior to relaxation or diastole. Now see if you can answer the following three questions about the electrocardiogram. Congratulations! You've completed the electrocardiogram.