The acronym “IRAC” stands for issue, rule, application, and conclusion. More than just an acronym, it specifically corresponds to a method for legal analysis, thus providing a predefined framework or structure for legal writing, especially for composing legal documents, position papers, issue or policy evaluation, and other reports, among others. Below are the specific applications […]
Category Archives: Business and Economics
Econ 101: The Difference Between Recession and Depression
Recession and depression are two terms used in economics to describe downturns in economic activities. Take note that although both have no universally accepted definitions, these two terms often have different uses, and they correspond to two different economic situations. What is the Difference Between Recession and Depression? The generally accepted difference between recession and […]
Difference Between Mission, Vision, and Value Statements
The mission, vision, and value statements of organizations are more than just public declarations of their identities, intentions, and positioning. When developed and utilized in their proper context, these statements form part of the long-term strategy of a particular organization and guide leaders in making an array of decisions ranging from short-term goals, marketing objectives, […]
The Economy of Vatican City
How does the economy of Vatican City work? What are the economic activities? How does it earn revenues? What are the public expenses? How does it operate and maintain relevant government functions? The city-state enclaved within Rome is not only the smallest sovereign state in the world in terms of land area and population but […]
The Strategy and Success of Cirque du Soleil
The Canadian entertainment and traveling circus company Cirque du Soleil is one of the prime examples of an organization demonstrating the effectiveness of a strategy based on unlocking new market demand and making competition irrelevant. When the circus company was founded by former circus performer Guy Laliberté in 1984, it entered an industry characterized by […]
Macroeconomics and Microeconomics: The Difference
Economics is divided into two main branches based on scope. These are macroeconomics and microeconomics. For starters, macroeconomics deals with the economy as a whole, while microeconomics focuses on the behavior of and interactions among firms and individuals. The Difference Between Macroeconomics and Microeconomics Macroeconomics studies the economy as a whole, particularly its structure, performance, […]
Red Flags: The Warning Signs of Investment Scams
The best way to avoid becoming a victim of one of those investment scams is to avoid them. However, this is easier said than done because some individuals or entities can be really convincing. Nonetheless, there are red flags or warning signs to look for to evaluate if a particular investment offering is legitimate or […]
Steve Jobs: Accomplishments and Contributions
Steve Jobs died on 5 October 2011 at the age of 56 due to pancreatic cancer. Despite his demise, his accomplishments and contributions in the fields of computer, consumer electronics technology, and business have left a lasting legacy. The Jobs Legacy: Accomplishments and Contributions of Steve Jobs Founded Apple and a Key Contributor to Microcomputer […]
Cash Accounting vs. Accrual Accounting
There are two general methods of accounting: cash accounting or cash basis accounting and accrual accounting or accrual basis accounting. The cash basis method involves recording revenue when cash is received and recording expenses when they are paid. On the other hand, in the accrual basis method, revenue is recorded only when it is actually […]
Review: Pros and Cons of PayPal as a Payment Processor
PayPal is an online payment system owned and operated by the American company PayPal Holdings Inc. It specifically provides online money transfers while also operating as a payment processor or payment gateway for individual online vendors, electronic commerce businesses, auction websites, and other commercial uses. A Concise Review of PayPal as a Payment Processor for […]
