National rank on international assessments, as measured in Trends in International Mathematics and Science Study (TIMSS), gives a limited view of the data presented. This study used average scale score data from the TIMSS (1995, 1999, 2003, 2007, 2011) that were then disaggregated based on content domains (i.e., number, algebra, measurement, geometry, data, earth science, life science, physical science, biology, physics, and chemistry). These data were graphed to show the growth of the U.S. national average scale scores in comparison to three top scoring countries (i.e., Hong Kong, Japan, and Singapore), and three other post-industrial countries similar to the U.S. (i.e., England, Italy, and Australia) It was found that the eastern nations outperformed the western nations on science math question for the fourth and eighth grade. The gap between eastern and western nations grew from the fourth to eighth grades. For fourth- and eighth-grade science content domains, Singapore outperformed all other nations except in earth science where all nations were evenly matched. Additionally, percent correct statistics from the 2011 TIMSS Released Items were disaggregated based on subject (i.e., science and mathematics) and cognitive domain (i.e., knowing, applying, and reasoning). The released item scores, based on cognitive domain, were then averaged and the U.S. averages were compared with the averages of the above mentioned nations, using a series of t-tests. Singapore scored significantly higher in all categories except fourth-grade science cognitive domains knowing and applying. Hong Kong scored significantly higher in fourth- and eighth-grade mathematics cognitive domains knowing and applying and eighth-grade mathematics cognitive domain reasoning. Japan scored significantly higher in eighth-grade mathematics cognitive domains applying and reasoning as well as science cognitive domain applying. These findings suggest that the U.S. is lagging behind in some content domains and cognitive domains, but not all. The current study informs teachers, administrators, and policy makers of the specifics areas the U.S. needs improvement.

The revolutionisation of international economies and monetary systems has been taking place since the early 1970s. This occurred due to the diminishing fixed exchange rate systems of, initially, the Gold Standard and subsequently the Bretton Woods System. The collapse of these systems, especially the Bretton Woods System, led to the almost free movement of exchange rates. The lack of restriction placed on the movement of currencies created volatile markets; which, in turn, gave rise to an innumerable amount of risks. In Correia, Holman and Jahreskog (2012) it was determined that an astonishing 74% of non-financial firms in South Africa hedge foreign exchange risk (the risk of currency movement). The 10% of firms which did not hedge any risks declared it was due to the lack of exposure to foreign exchange risks and that the cost of acquiring a hedging contract, in many cases, exceeded the contract’s benefits. In the aforementioned study it was also established that the extractive sector of South Africa is one of the industries referring from the use of hedges. The intention of this study is to improve the effectiveness of derivative instruments for companies in the extractive sector of South Africa exporting to the United States of America. South Africa is a large exporter and importer of goods, making it extremely important for market participants to determine the movement of the exchange rates. This estimates the amount of risk a company is willing to take and the amount of hedges they will use to protect themselves against inauspicious and adverse movements in the markets. Therefore, incorporated in this study is the use of risk management tools from the technical analysis to predict the exchange rates at which companies should have set their hedging contracts on specific dates. This analysis could enable companies to perform an internal control that is inexpensive and which reduces risks of foreign exporting. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2014

The revolutionisation of international economies and monetary systems has been taking place since the early 1970s. This occurred due to the diminishing fixed exchange rate systems of, initially, the Gold Standard and subsequently the Bretton Woods System. The collapse of these systems, especially the Bretton Woods System, led to the almost free movement of exchange rates. The lack of restriction placed on the movement of currencies created volatile markets; which, in turn, gave rise to an innumerable amount of risks. In Correia, Holman and Jahreskog (2012) it was determined that an astonishing 74% of non-financial firms in South Africa hedge foreign exchange risk (the risk of currency movement). The 10% of firms which did not hedge any risks declared it was due to the lack of exposure to foreign exchange risks and that the cost of acquiring a hedging contract, in many cases, exceeded the contract’s benefits. In the aforementioned study it was also established that the extractive sector of South Africa is one of the industries referring from the use of hedges. The intention of this study is to improve the effectiveness of derivative instruments for companies in the extractive sector of South Africa exporting to the United States of America. South Africa is a large exporter and importer of goods, making it extremely important for market participants to determine the movement of the exchange rates. This estimates the amount of risk a company is willing to take and the amount of hedges they will use to protect themselves against inauspicious and adverse movements in the markets. Therefore, incorporated in this study is the use of risk management tools from the technical analysis to predict the exchange rates at which companies should have set their hedging contracts on specific dates. This analysis could enable companies to perform an internal control that is inexpensive and which reduces risks of foreign exporting. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2014