Will The Middle Class survive in the United States Term Paper

Will The Middle Class survive in the United States - Term Paper Example Alternatively, a counterargument is presented to the effect that the middle class does not exist. The most important rhetoric of the modern society is perhaps based on the financial integrity and performance and the interplay with benefits and liabilities presented to individuals’ financial abilities. While social stratification may not be a welcome idea in the modern society, economic potential unfortunately creates an imprint of social classes dependent primarily on the economic status of individuals. Among the five presumed socioeconomic classes is the middle class which can be defined as the class comprising of between one-third to a fifth of employees in an economy and has white-collar employees, junior managers, small and middle entrepreneurs. In the apparent social stratification and classification, there are two lower classes ranking below the middle class and two classes higher in ranking than the middle class. From the table above, Weston (2011) tries to illustrate the definition of the various socioeconomic classes based on the range of earnings that they make and the position of the middle class has been highlighted in bold. Below and above this class, there are two socioeconomic classes with a possibility to move up and down the classes being dependent on the performance on earnings and individuals’ financial status. Depending on the general performance of the national economy, the distribution of the classes across the population may depict certain patterns. As an illustration, in the developed economies, the population in the advanced classes is higher than in the lower classes, which is the exact opposite in developing economies. Equally, the possibility of movement up and down the classes is reminiscent of the prevailing economic environment. It therefore implies that the middle class is composed or relatively better

Financial Reporting & Analysis Coursework Example | Topics and Well Written Essays - 1500 words

Financial Reporting & Analysis - Coursework Example The researcher of this coursework describes the subject of the conceptual framework in financial accounting as well as on an evaluation of whether the criticism, that is leveled on the conceptual framework for failing to fulfill its main objective depends on outlining the main objectives of conceptual framework and comparison with what is undertaken in the field by the practice. The analysis depends on actualizing that the conceptual framework financial accounting concurrently reflects, represents, mirrors, or measures the normal feature of the pre-existent economic reality. The conceptual framework can further be analyzed in terms of the evaluating the accounting principles, inherent concepts and enhanced or entailed focus of general function financial reporting elaborated in the Conceptual framework. The main idea behind the introduction and development of the conceptual framework lies in the provision of the structure for creating accounting standards that act as the main or sole center for resolving emergent accounting disputes. In conclusion, the researcher sums up his study and opinions and states that the criticism of a conceptual framework for being a failure and not satisfying its purposeful roles is hence notable and real. Lack of certain rules in the frameworks denies the essential regards desired for control of the professional. The framework, hence requires a streamlined approach aimed to mend the framework that would create a real economic approach that is healthy for the accounting profession in entirety