(DNRC) Essay Example | Topics and Well Written Essays - 1250 words

(DNRC) - Essay Example The record contains data from gathered reports from a wide scope of government areas and organizations. The report contains assessments of the related seriousness of a major extent of essential mishaps or characteristic events (collectively alluded to as risks) and assaults that are malignant in nature (dangers). It likewise contains assessments of the potential dangers that are brought about by open distress, nearby fanatics and composed wrongdoing. JTTF and Homeland Security Detectives have gathered a wide range of data, and coming up next are the viewed as significant risks and dangers that begin from five significant areas. Miami faces a constant danger from fear mongering on the grounds that it is a supported goal for some nearby and remote visitors. Past the customary systems of assault, fear based oppressors may have the expectations of leading digital assaults or utilize non-conventional techniques, for example, synthetic, radiological substances, atomic and natural materials (Christopher, Frye and Reissman, 2010). Viewed as a prominent political occasion, the Democratic-Republican National Convention is required to introduce an appealing objective to fear based oppressor gatherings and their supporters. Without a sliver of uncertainty, there will be a great deal of development of travelers over the span of the occasion. The authentic data uncovers that of the different malignant assaults respected, conventional endeavors at disrupting the open vehicle structures, for example, the metro stations are probably going to be attempted (Shach-Pinsly and Ganor, 2014). Other related assaults of a similar sort on sea and air travel frameworks is more averse to be utilized in view of the increased security screening inside these frameworks. Non-customary assaults are viewed as assaults that utilization strange materials, for example, atomic materials, compound and natural materials. The greatness and impact of such an event would be subject to the material used to do the assault, and the area picked to dispatch the assault. The

How does the military lifestyle affect the social development and Research Paper

How does the military way of life influence the social turn of events and scholarly inspiration of teenagers in secondary school brought up in military families during a period of war - Research Paper Example orted on their temperament of adjusting new places or rather new condition, control efforts, and how quick they acclimate to new condition through organized report toward oneself measures. For the ones who were hard of hearing, there was a survey with indistinguishable inquiries from those posed verbally.The results shows that young people living in military families announced lifted degrees of conduct issues as demonstrated by settled clinical gauges. In any case, consider discoveries in like manner show that control attempts and maternal assistance go about as basic guarded components against the improvement of conduct issues and eager side effects, while to keep away from adjusting is identified with increasingly noticeable excited manifestations (Marting, et al. 2000). It additionally shows that, the individuals who are influenced straightforwardly during the hours of war are discouraged and they are performing inadequately in school. Engaging insights are used to depict the basic tricks of the information in an examination. They give direct summaries about the example and the measures. Along with direct designs examination, they structure the reason of basically every quantitative assessment of information. They are commonly extricated from inferential measurement. It is the possibility of one number that sums up the entire estimation. Accepting the sexual orientation and age as our segment variable of the young people, let X mean the quantity of young men who were in the example of teenagers and Y indicate the quantity of young ladies in that example. X +Y equivalents to the entire example which was taken arbitrarily according to the principles of irregular inspecting. In focal inclination, the middle is the number that is at the center of the considerable number of estimations or rather is the number at which a large portion of the estimation are surpassing that number and the other half are not as much as that number. The example must be orchestrated in climbing or plummeting request, at that point the number at the center is the middle. The clear measurements draws out the conduct of the factors

Essay Topics to Write an Essay On For High School

Essay Topics to Write an Essay On For High SchoolTopics to write an essay on for high school are some of the hardest things that you can do. There are just so many subjects that you have to cover, and it seems that there is always something new in the world. When I was in high school, I learned very quickly that I didn't have time to cover everything. This was very important, because I wasn't good at writing.In fact, I was pretty bad at essays. I remember writing an essay about myself one year. It took me until the last week of school before I could actually finish it. One thing about this is that if you really hate your subject, you might be able to come up with some great ideas to write an essay on for high school that no one else has.If you go back a few years, I think I even wrote a topic on how to write an essay about football. This may not seem like such a good topic, but you see, it was about how to make the most of your time in high school. I think you would find that this is an excellent topic, and can be quite fun to write.You can also try to make your topic about a theme that would interest you. If you were going to write an essay on free speech in high school, for example, you could try to think about things that you liked. For example, I did a topic on baseball. That was something that I had a lot of fun doing, so I thought I would share my thoughts with you.The best way to write about something you enjoy, of course, is to immerse yourself in it, and put yourself in the position of watching a baseball game. The key to this topic is to learn a little about the sport of baseball. If you don't want to study it all the time, you can always just get it from a book, or listen to a radio show.For another difficult subject, I'd recommend looking into something else. Take up archery. It is one of the most difficult sports to figure out how to write about, but that's not the only reason. Because of its popularity, a lot of people are interested in archery, a nd it has become more popular because of the ease with which you can connect to this sport.Try to think about what it would be like to use your arrow for a particular sport. This is a great way to get into a topic that you would enjoy writing about. In addition, because it's so hard to find information on archery, you will have a ton of sources to help you if you need them. In short, this is one of the best topics to write about in high school.When it comes to topics to write an essay on for high school, you really need to do your research. Go online and do some of your own reading. That way, you can get all of the facts that you need and be able to come up with an essay on archery that is completely unique.

The Benefits Of The International Reporting Standards - Free Essay Example

Sample details Pages: 19 Words: 5572 Downloads: 10 Date added: 2017/06/26 Category Statistics Essay Level High school Did you like this example? 2. 0 Literature review 2.1 Introduction Literature abounds in polarising this subject matter the benefits of the international reporting standards. Looking back at the last quarter of the 20th century it will no longer be seen as an evolutionary period global financial market in a bit to introduce a single set of standards that will be generally acceptable in financial reporting. International reporting standards have revolutionized the domestic accounting system to a more capital oriented system (Hope et al, d Archy 2001). Lantto (2007) states that the information provided by the IFRS is more reliable and relevant. Darke and Deske (2006) highlights that the disclosure quality has increased tremendously since the adoption of the IFRS. Furthermore, Ding et al (2006) states that the adoption of the IFRS has made a great impact in bridging the differences in the use of the domestic standards among the countries. In justifying the theories, there are opinions as well as oppositions on the advantages of the international r eporting standards. What becomes evident although arguably is that the movement from the domestic standard of reporting to the international standard of reporting is of great benefit to financial reporting to the shareholders, firms ,organizations and also global economy as it will place the whole countries in the same reporting field. This chapter will review this report from the historical background of the international financial reporting standards, the Implementation and enforcement then to the benefits of the adoption of this standard. Don’t waste time! Our writers will create an original "The Benefits Of The International Reporting Standards" essay for you Create order 2.2 Financial Reporting. In the beginning financial reporting can hardly be called external (Alexander, Britton and Jorissen, 2003: 22) rather it was a way by which the owners were informed on their income and capital. This is because the owners and managers of the company were not separated. Until in the 1800s when they started encountering the agency problems it becomes evident to separate ownership (management) from capital supply. Then external wreporting was introduced in order to provide information outside the borders of a specific country. Hence, financial reporting emanates from internal to external reporting. Financial reporting provides information to the users for making economic decisions (Iqbal 2002). Gilmore and Wilmot (1992) states that reporting has developed over time in a bid to stress the need for investment decision making and also to attract investors into the company. Hegarty (1997) opines that the range and varieties of this reporting regime is as a result of an evolution which s hows the uniqueness in the economic, cultural and legal jurisdiction. As a part of the revolutionary process financial reporting has changed over time (Crowther 2000). The change is a result of a need for a good financial reporting system that will communicate real value and risk to the users of the reports (Damant 2000) .Hence, the quality of a financial report is dependent on the reporting standards. 2.3 Why Standards? According to (Perks 1994,p.137),Accounting standards may be seen as the professions rules, which supplement companies Act requirements that are intended to restrict directors freedom of manovoevre and to ensure that the financial statements are presented on a more comparable, consistent and standard basis. Perks (1994) reporting standards is also important in order to prevent scandals, abuses, financial collapsing in the companies and creative accounting that may jeopardize the profession. Also, Elliot and Elliot (2008) highlight some reasons for standard this includes: Comparability: Financial statements should be able to allow users make predictions on future cash flows and also evaluate managements performance. Credibility: For financial information to disclose information that will give a true and fair view, uniformity is therefore essential. Influence: To be able to stimulate a development of the conceptual framework the process at which the standards are formulate d should be able to give a constructive appraisal of the policies proposed for the individual financial reporting. Discipline: A mandatory standard is necessary as it structures a regulation that will be systematic and ongoing thereby enforcing a disciple in the financial markets for all organizations listed in the stock exchange. The usefulness of a reporting standard cannot be overemphasized although there are some arguments on this. Harvey and Keer (1983) argued that information produced using financial standards could be unreliable at times and the standards might be bureaucratic and inflexible. Also, there may be adverse allocative effects . Consequently, there might be consensus-seeking and standard overload . Lets take an illustration of a of two companies; Enron and Ahold to further explain why we need standards. Enron is the seventh largest US based company falling into bankruptcy as a result of an overstated profit of $500 million and the Ahold the third largest U S grocer had their earnings overstated for the past two years by $500. 2.3 How National differences affects reporting. Given that the environment differ from country to country, the types of decisions to be taken and information needed in decision making differs from one country to another. Hence, accounting system is environment specific. (Iqbal 2002). Adhikari and Tondkar (1992) reported that financial accounting reporting and disclosure standards and practices do not develop in a vacuum but reflect the particular environment in which they are developed (p. 76). The culture of a country affects its method of accounting and financial reporting. For example, Gary (1988) in his books illustrated one of the ways by which cultural differences affects countries financial reporting; a country with a high uncertainty avoidance and low individualism will tend to be more conservative in their income measurement than in a country with low certainty avoidance and high individualism. Although the measures of cultural attributes may be indistinct and not direct in financial reporting compared with the other factors that affect financial reporting.Also, the nature of accounting regulations in a country is influenced by the general system of law applicable in that country. For example Jaggi and Low (2000), notes that companies in the common laws countries tends to have a high level of disclosures than countries in a codified Roman law system. La Porta et al. (1998) argues that common countries have investors with a strong legal protection than the Roman law countries do. Moreover, the differences in the types of business organization and ownership also affect financial reporting. Elliot and Elliot (2008) further explains this stating that in a country like the UK the business structure indicates a separation of the ownership and the management while in the French business the structure differentiates the ownership from the managers.. According to Nobes and Parker (1998, p.21):The difference in the providers of finance (creditors/insiders) versus (equity/ outsiders) is the key cause of i nternational differences in financial reporting. Although there is an increasing scale, companies firms had to find extra capital to finance growth. (Alexander, Britton and Jorrisen 2003). Roe (2003), further argues that political differences are the major cause of the differences in corporate structures in the developed western countries. Also the accountancy profession is another determinant of the differences in financial reporting. Nobes and Parker (2006:36) emphasizes that the strength, size, and competence of the accountancy profession in a country affect the type of financial reporting that will be obtained in that country. So with these differences the financial analyst cannot be able to make a headway there is therefore a need for a uniform reporting standards. 2.4 Why the call for international reporting standards Over the years it becomes apparent for an ever increasing worldwide competition. The globalization of the markets and companies increased as a result of the cross-border securities market listings and capital raising.. Thus, there was no cross-border investments, investors therefore prefer to invest in companies whereby there will are more comfortable with their system of accounting . 2.5 Background of the International Reporting Standards. Financial reporting standards for international applicability became prevalent in the 1970s. International Accounting Standards committee (IASC) was set up in the 1973 in order to standardize the reporting differences in international investment communities. The establishment of the International Accounting Standard committee is seen as a response to the call by the accounting profession for a greater co-ordination of accounting rules among the various nations of the world (Kraayenhof 1960).The need was expressed in the international congresses of Accountants held in September, 1972 in Sydney. Chetkovich (1979, p.13) emphasizes that at each of these congresses, there was a demand for a better communications and closer cooperation among accountants on a worldwide basis; and also for greater harmonization of accounting standards. This statement led to the establishment of the IASC on June 29, 1973. The objectives of IASC are: to formulate and publish in the public interest, international standards; also to promote their acceptance and observance world-wide, and to work generally for the improvement and harmonisation of regulations, accounting standards and procedures relating to the presentation of financial statements. (IASC, 1983, Preface to Statements of International Accounting Standards, p.1). This is the first step towards the achievement of a globally recognised standard .The members of the IASC accept that adopting of international accounting standards (IAS) will improve the quality of financial statements (IASC ,1995). How far did this go or were there criticisms to this standard? IASC helped in solving the problem of uniformity although the purpose of it enactment was far from being realised. One of the weaknesses is that the standard issued by IASC has many objectives thereby making it difficult to achieve the purpose of consistency in recognition, measurement and presentation of transactions (IASB section 4). The standard is also too broad and allowed the use of several alternative accounting treatments. Atiken and Wise (1984) emphasizes that the IASC gives more attention to the multinational companies and investors in the multinational businesses more than it emphasizes on the harmonization of all spheres of the organization globally. Therefore emphasizing that I ASC was set up for the harmonization of accounting on a worldwide basis in order to improve the financial reporting and decision-making capability of multinational businesses, and investors in multinational businesses.(p.176). The second criticism to the use of IASC is that of the mandate. The statement starts with the phrase to formulate and publish in the public interest international standards†¦. (IASC). Hence they act in the interest of the public by a way of enforcing the rules which may not be favourable to the public. This absence of democratic legitimacy has been the major reason by which the IASC standards have not been enforced. Besides , this the structure and the membership composition of the IASC lacked the requirements needed for a global standard setting organization which includes the independence of its members, technical expertise and the decision making bodies representatives. McKinnon and Janelle (1983, p.33) argued that IASC has only succeeded in codifyi ng generally accepted practice, in serving as a neutral source of standards ,and in influencing groups with the enforcement powers. Consequently, the IASC was restructured from the year 1998 to 2000 to International Accounting Standards Board (IASB). IASB is an independent London-based standard accounting body privately funded. The first IFRS was issued in the year 2003 with a membership of 19 countries but it has tremendously grown to 70 countries now with the EU mandating that all listed companies should use the IFRS in their financial reporting effective from the year 2005 (EC,2002). IASB has two member bodies the standard setting board and the member board of trustees .The IASB establishment is allied to that of the international federation of Accountants worldwide (IFAC).. The International Accounting Standards Board is committed to developing, in the public interest, a single set of high quality, global accounting standards that require transparent and comparable informatio n in general purpose financial statements in addition, the IASB co-operates with the national accounting standard-setters to achieve convergence in accounting standards around the world. (IASB, 2002, p.1). IASB has taken corrective measures in removing the accounting alternatives thereby ensuring that firms give a report that will reflect a true position and economic performance of the firm. IASB also aims at promoting global consistency in application and enforcement. It has also met the requirement that the business which operates in multiple bodies have a uniform financial statement which will be understandable in the countries whereby they operate. 2.6 International Accounting Standard Board (IASB) versus FASB? Norwalk agreement in the year 2002 by the Financial accounting Standard Board (FASB) and the International Accounting Standards Board was signed by both bodies after the need for a high quality, consistent and a comparable information which will be applicable to both domestic and the cross border financial reporting was recognized. Jacob and Madu (2009, p.3) the cited that both FASB and the IASB has pledged to use their best efforts in making their existing financial reporting standards fully compatible as is practicable and to coordinate their future work programmes to ensure that once achieved compatibility is maintained. This was also confirmed in their meeting in October 2005 of the two bodies reaffirming their commitments to converge US GAAP to IFRS. In a Concept Release, the SEC(2000) notes, Establishing and maintaining high quality accounting standards are critical to the US approach to regulation of capital markets, which depends on providing high quality information to facilitate informed investment decisions. (Jacob and Madu 2009).SEC released a proposal on July 13 2007, which states that US should recognize financial statements prepared using the IFRS from the foreign private issuers without reconciling them back to GAAP [2].furthermore, SEC informs all the investors that IFRS is the only set of standards with a high quality accounting standards that is more informative, useful for preparing financial reports compared with the US GAAP. This recent move to IFRS suggest that ,IFRS is the only standard that is of high quality and globally recognized and also has a potential to improve comparability of the financial statements despite of the country whereby they are domiciled. Despite all these efforts to converge to IFRS some academic literature still opines this stating that there are still material differences between the IFRS and the US GAAP. More so, the information contained in reconciliation is evident in the investment decisions made by the US investors. for example ,Culter and Neidemeyer (2009) argues that the major challenge why US did not want to adopt the IFRS is that there are differences in regulation and the manner at which these rules are been interpreted. IFRS is principal based regulatory system; which means that the rules are already set. On the other hand US GAAP is ruled based, whereby a detailed guidelines and principles is already laid out. Delliot (2007) emphasized that the principle based rules focuses more on the objective not relying more on the detailed rules. Deming (2005,p.4) gives a conclusive report pointing out that IFRS has more of a common law approach, than the US GAAP which is more of a civil law approach Furthermore, in the number of standards, IFRS has forty nine standards while and nineteen interpretations and this consist of an approximate of two hundred pages (Delliot 2009) while the US GAAP has twenty thousand page (Mitra 2009).Other notable differences are seen in the financial repor ting using the US GAAP and the IFRS. This will be comprehensively reviewed in the subsequent chapter. 2.7 Implementation and Enforcement of Financial Reporting Standards The credibility of a standard relies on its smooth implementation by countries that adopts it. Enforcement is a difficult concept to quantify and measure (Nobes and Parker 2006). The enforcement process differs from one country to another. Even at the international level there is still no genuine enforcement process. Moreover, some accounting bodies set standards and leaves enforcement to other bodies while others do both. For example US Securities and Exchange Commission sets laws and enforces it while IASC, Accounting Standards board (ASB) sets and develops standards and do not have the power to enforce these standards For the set rule of IFRS to be achieved an enforcement body has to be set up with powers to enforce the standards (Lamfalussy, 2001; Committee of European Securities Regulators [CESR], 2003a). Nobes and Parker (2008) states that the most determining factor for a successful adoption of this standard as a global standard is in the approach taken by the financial r egulating bodies in the countries that adopts it. Giner and Rees (2005), Brown and Tarca (2005 )and Ball(2006 ) affirms that the purpose of IFRS is to provide a high quality financial reporting which can only be achieved with vigorous enforcement by the regulatory bodies (Schipper 2005 and Ball et al. 2003.The enforcement has not been easy certain factor has affected the effective enforcement of the law. Some of them vary from the cost, regulators interest and whether the businesses or accountants really need them. Watts and Zimmerman (1986), opines that the value of regulation is an empirical question, more apprehensive of how the regulatory authorities can value the costs and benefits of regulation. For example in the EU countries the structure and the organization that is in charge of the oversight of the requirements in the financial reporting varies among the EU countries. Also some countries do not have institutional oversight of financial reporting (FEE, 2001a, p.10).The EU r egulation therefore mandates that the member states are to take appropriate measures in order to ensure compliance with IFRS. (European Commission EC], 2002, n.16). As a result of this the need for a country to produce a multiple financial statements was eliminated. Lafferty (1981) noted that no enforcement mechanism ever existed in reality. Perks (1993), expressed in his opinion that, without a legal backing it is not easy for the reporting standards to be enforced. Enforcing of the accounting standards therefore may require statutory audit, an effective sanctions and monitoring by supervisory bodies and for it to be implemented. Thus, there will be continuous reformations and changes in these standards. IFRS AND EU The European Parliamentary on enacted a legislation 0n 14 March 2002 requiring all companies listed in the European stock exchange to publish their financial statements with in accordance with the International financial reporting standards. There is also an endorsement mechanism which ensures that IFRS meets the needs of the EU listed countries. 2.4 International Standardization, Harmonization and Uniformity. The move towards greater harmonization of professional accounting practices has been traced back 1904 and the first accounting congress in St Louis, Missouri (Samuels and Piper, 1985, p.59, Mueller, 1979, p.7). Samuels and Piper (1985 p.59) states that international issues were not important while Mueller (1979 p.7) states that there is a need to pay attention to International harmonization. Combarros (2000), also argues that there is a need for harmonization of the accounting. Harmonization and standardization are used synonymously by some authors (Tay and Parker, 1990). While other researchers has differentiated the two. Tay and Parker (1990, p.73) defined harmonization as a movement away from total diversity of practice and standardisation is seen as a process which involves a movement towards uniformity. Saudagaran (2001:32), futher emphasized that the rationale for harmonization is that it will enhance comparability of financial statements [therefore] making it easier to use a cross countries While other proponents is of the school of thought that harmonization will is not be practicable or truly probable. Rudhede and Wahlberg (2003) emphasizes that the lack of accounting harmonization will give difficulties to the investors in understanding the accounting principles which varies among the countries. Walton. Moreover, harmonization is a way to put processes in place to be able to reduce the obstacles inherent in international comparability. Hulle (1993, p.73) stated that the objective of harmonization is the comparability of accounts. All the efforts of the EU towards harmonization of these accounting standards have been challenging and slow. 2.4.2 Merits of international harmonization. An argument in favour of international harmonization is, efficiency in trans-border transactions. (Walton, Haller, Raffournier, 1998, p.9). Although lack of uniformity in the reporting procedures and the comparability of the accounting information is another barrier to cross border investments. This comparability of the financial postions across national bodies is seen as one of the most important reason for harmonization (Cummins 1975). This will help to reduce lack of trust and non reliance on the financial statements. With this there will be a flow of international investment in the capital market. Turner (1983 p.58) in his studies affirms that the second advantage of harmonization is to consolidate divergent information when more than one set of report is required to comply with different national laws or practices; further stating that accounting diversity is the major cause why companies spend unnecessarily cost. According to Houston and Reinstein (2001), harmonization of the accounting standards will reduce the cost of business, more particularly across national borders, than it will contribute towards greater efficiency of the market regulations. Not only will that harmonization reduce the costs inherent in conducting financial statements analysis and investments in international context. Another advantage of international harmonization of the accounting standards is saving of resources (Muller 1961, Spacek 1971). Further arguments is that international harmonization of the accounting standards can advance capital market efficiency(Ramanna and Sletten 2009) while Ball et al., 2000; Ball Et al 2006 envisaged that if the international market does not go along with the associated capital market institutions can be expensive. Finally, harmonization of the international accounting standards will help in improving management decisions in the multinationals. (Hauworth 1973). 2.4.3 Demerits of international harmonization International harmonization if faced with some criticisms, Some of which are economic while others are political. One of the criticisms is that it cannot carter for a wide range of national circumstances, legal systems, stages of economic development, and cultural differences (Samuel and Piper, 1985, pp 100-109). Atiken and Islam refuted this stating that the nature of the economic transactions and the methods by which they are accounted for does not vary in essence. Walton, Haller, Raffournier, (1998) argued that harmonization distorts social balances that have not been tackled over a long period of time. In the readings of Blake and Hossain (1996) International harmonization of reporting standards especially IASC is less respectful of local particularities; in regards to this context options will be seen as to be bad ,methods are termed either good or bad and costly reconciliations is likely to be imposed. Kenny and Larson (1993) further argued that large professional organizatio ns protect their selfish interest in the standard setting process. Also the absence of a strong professional accounting body is a major obstacle to harmonization of accounting standards. 2.10 Arguments for international reporting. The essence of international reporting standards is to give a universal reporting standard that will be comprehensive and transparent thereby improving investors confidence as well as also creating market integrity. (Hope et al., 2005; dArcy, 2001). In this section we looked at the benefits of international reporting standards to the investors, firms, and also to the global economy. Gordon (2008, p. 3) cited the speech of Levitt (1997) which stating that for international reporting standards to gain acceptance three key objectives must be in place: The standards should include a core set of accounting pronouncements that constitute a comprehensive, generally accepted basis of accounting. The standards must be of high quality – they must result in comparability and transparency and they must provide for full disclosure. The standards must be rigorously interpreted and applied. Financial Reporting quality and transparency under IFRS The question has been if the accounting figures reported under this standard will give of high quality compared to those under domestic standards?. Also will IFRS show transparency in disclosure for an informed decision for investment? Barth et al., (2007) states that this is an extremely intricate question to answer as the application of any given standard has exhibited the effects of the features of the financial reporting system, its standards, as well their interpretation, enforcement and litigation. As these affects the competence of the financial prepares and users. Tarca (2004) said that international accounting standards are one way of improving transparency in financial reporting. Ashbaugh and Pincus (2001) elaborate that since the adoption of IFRS there has been improvement in the forecast accuracy by the analyst. As a result of this analysts cost of information acquisition also reduces. Cuijpers and Buijink (2005) from his sample of firms domiciled in the European Union provide evidence that the analyst following has increased. Also Barth et al (2003) and Barth et al (2007) reveal that higher value relevance for firms is higher since the adoption of the IFRS as compared with the pre adoption period. IFRS therefore reduces the estimation of risk in market returns. Hence we will say that the quality of the IFRS in financial reporting is therefore inestimable in countries that adopt IFRS than those that use the locally recognised standards. Although we have affirmed that IFRS is associated with a high accounting quality there may be oppositions to this. Firstly, where there is an intrinsic flexibility in the principles based standards; this may present opportunities for firms to manage their earning thereby reducing the accounting quality. Also, in a bit to limit the managerial discretion which relates to the accounting alternatives will also reduce the ability of the firm to report accounting measurements that will give a reflection of what the true position and economic performance of the company is. Thus, accounting regime affects the quality of the information thereby affecting the cost of capital. Cost of capital and IFRS Adoption There are various propositions on the whether the adoption of IFRS reduces liquidity and lower cost of capital. Before the adoption of IFRS investors have to spend some time and effort in translating the standards in a way they can to understand. This process wastes efforts time and incurs transaction cost. The cost of capital determines how risky an investment would be. The higher the cost of capital the more risky the investment will be. According to (Coffee 2002), findings on bonding theory there is a lowered cost of capital. Deske (2006) affirms that this associated reduction in information cost is the main benefits by which IFRS is being adopted. There will be a reduced cost since the same standard will be used by all countries not regarding where the countries are domiciled. Aras and Crowther (2008) argued that the reduction in the cost of information in the adoption of IFRS and an assured consequent reduction can only benefit the countries whose legal, cultural, and economic system is the same with the nations which are involved in setting IFRS, hence other countries which are not beneficial to this may incur increased cost compliance. Although, Barth (2007); Marquez-Ramos (2008) emphasized that IFRS reduces information cost of an economy as capital flows and trade becomes globalised. Improved comparability of the accounting reports: The use of IFRS eliminates the lack of comparability of financial statements. Choi et al. 1999, p. 249 states that comparability eliminate the current misunderstandings of the investors on the reliability of foreign financial statements and this removes one of the most main impediments affecting the flow of international investment. It also makes it easier for companies to compare financial results of different reporting entities from different countries. Global recognition Globalization of the business activities has increased creating a need for comparability of financial information between firms of different countries .Most of the companies are going globalized therefore the use of national accounting rules is increasingly impairing effective communication both in internal and external reporting. In a recent study by the international federation of Accountants(IFAC) most accounting leaders all over the world has agreed that adopting IFRS will be vital for economic growth in their countries. It is also significant as it will make it easier to compare human capital needs of companys subsidiaries all over the world since professionals will be more mobile. IFRS improves profit figures: The movement from the domestically recognized standards to the internationally recognized standards has resulted to a tremendous increase in the net profit figures of top most countries financial reports although the balance sheets have deteriorated. It is noted already that IFRS requires a comprehensive reporting than the domestic standards. IFRS has determined the various accounting methods by which profit figures will be derived from and reported by the firms (Aras and Crowther 2008). Impact of IFRS on financial reporting Examining financial statement implications is important because, †¦ the only direct effects †¦ are changed financial statements †¦ (Hung and Subramanyan, 2004, p.4) Pijper (2009), further examines how IFRS has affected the reporting of financing on the balance sheet. In GAAP the put option were disclosed in a footnote as an off balance sheet figure, but with the IFRS the put options which is held by minorities are now treated as a financial liabilities. Prior to the adoption of IFRS most companies were very conservative in their depreciation rates and this was affecting the business profits in that some assets will still be in use and there is no report on the expense incurred against those assets in the income statements but now the IFRS has reduced the distortions b these excessive prudent nature of depreciation rates .From the studies of (Hung and Subramanyan 2004) IFRS emphasized that fair value should be used for balance sheet valuation. Barth et al (2005) from his studies discovered that companies that uses IFRS experiences volatility in their net income. Furthermore in (p.5) of his report he gave a conclusive report on companies that use IFRs and companies that doesnt use IFRS saying that companies that use IFRS evidence less earnings management ,more timely loss recognition and more value relevance [in] accounting methods. IMPACT OF IFRS TO INVESTORS Ball (2006) states that IFRS gives a more accurate, comprehensive and timely financial statement information compare to the previous standards. Secondly it also gives a more informed valuation in the equity market thereby lowering the investors risk. Also it reduces the adjustments analyst made in order to make their financial statements comparable globally. As a result of this reduced cost market efficiency is achieved. Furthermore, (Ball 2006,p.17) highlighted that reducing international differences in accounting standards assists to some degree in removing barriers to cross-border acquisitions and divestitures, which in theory will reward investors with increased takeover premiums. It therefore provides better financial information for shareholders: Impact of IFRS on Firms: The impact of IFRS on the firms varies from one firm to another and also from one country to another.IT can be explained using the signalling theory (Spence 1973).When the signalling theory is applied to the financial disclosure it sends a signal that the managers may use it to signal their intentions and expectations to the market participants.(Hunts 1985).Also Tarca(2004:8) further states that Firms could use international standards to send a signal to capital market. Therefore the application of international standards by the companies could depict two things to the investors either that the firm is trying to disclose more information or adopt a more restrictive accounting standard. We should also note that communication to the investors is the main reason for international financial reporting. 2.12 Arguments against international reporting standards. Firstly, It is stated that IFRS can be influenced by political lobbying but the recent position of the EU in IFRS standard setting overrides this argument. Also, Brackney and Witmer (2005) refuted this by saying that for a country to get a dominant role in the IASB affair they are likely to concede some authorities over setting standards to EU interest. Ramanna and Sletten (2009, p.2), envisaged that IFRS is a product with a network of effects this means that the IFRS will be adopted by a country if other countries are using it. IFRS can also only be adopted because of its direct benefits (autarky value and the synchronization Value) (Katz and Shepiro ,!985;Liebowitz and Margolis 1994).This direct benefits are represented by the net economic and net political value of the IFRS over local standards. Autarky value is the direct value a country benefits from adopting IFRS while synchronization is a value that a country gets from adopting a single set of accounting standards which is w idely acceptable and acceptable by the other countries. (Ramanna and Sletten 2009). Pijper (2009) further states that compared with the local GAAP profits were overstated when restated under the IFRS he also analysed some of the weaknesses that is inherent in using the IFRS. These include the following: The cash flows statements cannot be compared directly: In preparation of a cash flow statement interest received, and paid, dividends received and income tax paid has different treatments by different companies. There is also no consistency in disclosing operating and investing activities. It may be difficult to implement the accounting principles in practise: In a study carried out it was observed that in French countries, IAS 27 does not recognize the defacto control so a company that is consolidated under the French GAAP may not be accounted for in this manner. IFRS still allowed the use of alternative accounting treatments: In accounting for jointly controlled en tities ,IFRS allows countries to choose between proportionate consolidation and the one –line equity method. The method by which derivatives is treated using IFRS makes the financial statement difficult to understand: In IFRS debt is reported differently from the related currency swaps at times it includes the fair value of interest rate swaps as carrying amount ,this makes it difficult to ascertain the true level of debt and derivatives in the financial statement. Also there will be difficulty in tracing the cost of a companys borrowing if interest payable to the debt holders is paid through the derivatives. The derivative may also bring in false volatility in the income statement if hedge derivatives is not properly accounted the same way by which the derivatives itself is accounted for. Further propositions in the use of the International financial reporting standards (IFRS) is that it is a fair value based standards (Walton 2007 p.9) this infers that all assets and liabilities will be measured at fair value with any resultant changes to be included in the income and statement as gains and losses .Consequently, there are further oppositions is that the use of fair value in subsequent measurements of assets and liabilities is limited both in theory and practice.(Carnis 2006)

How Can A Game Possibly Change Someone s Life Essay

How can a game possibly change someone’s life? People from the outside looking in often think sports are merely meaningless competitions with no end result other than a winner and a loser. Although I love to come out as the victor in every competition, I know there is more to sports than what the stat sheets say. They can be life changing if you transfer what you learn on the court or field into real life situations. Basketball has certainly taught me many things including working with others, persevering through difficult circumstances, and learning to overcome past mistakes. One particular game my sophomore year in the regional semifinal game against LaPoynor made me realize what the game was actually teaching me. There was so much excitement in the huge locker room. My team and I had been waiting for this day since the beginning of the season. We had worked so hard that winter and we knew we deserved to be here playing in the regional semifinal game. We poured our blood, sw eat, and tears into every game, practice, and workout. We were just two games away from making it to the state tournament in San Antonio, Texas. The only thing standing in our way was the LaPoynor Lady Flyers. I had been competing against their point guard since we were in elementary. She was quick, smart, and skilled, but we were ready to shut her down. The music was blaring through the speakers in the locker room as I stared at the floor envisioning what I needed to do to defeat my opponent. EveryShow MoreRelatedExtended Definition: Victory881 Words   |  4 PagesEveryone has the desire to win. The feeling of victory, whether competitively in a sport s contest or personally, makes one feel like they are at the top of the world and cannot be taken down. According to the Webster s New World Dictionary, victory is described as, â€Å"the winning of a battle, war, or any struggle† (658). The word victory is commonly used when talking about sports. Those who are striving to win play these sports, and personally, the taste of victory after a win is an incredibleRead MoreAnimal Farm Corruption Essay1289 Words   |  6 Pagesgovernments can take place in any civilization. A representation of this is, if you take a group of people and drop them off in the middle of nowhere, with no form of authority nor government. Most of the time someone will want to take power, and sacrifice the greater good for their own needs. This same form of corruption is greatly displayed in the book called, â€Å"The Animal Farm†. It shows how a utopia can turn into a dystopia in a blink of an eye. â€Å"Now comrades, what is our nature of life? To workRead MoreTechnology Is The Answer On Technology966 Words   |  4 Pagesdramatically. Problems teens had to face in the 1990’s don’t even scratch the surface of the problems teens now have to face. You may ask, what could cause this? What possibly could teens have to face today? Technology is the answer. Technology should be helping to uplift this generation but it’s actually stunning it. My generation is using technology for all the wrong reasons; sexting, texting while driving and walking, social media and video games etc. In recent years the new phenomenon among teensRead MoreShort Story and People1473 Words   |  6 Pagesactually symbolizes the time where Mrs. Mallard died with joy. And with that moment, it surely is considered a story of an hour. II. On The Meaning Life is short. That s why we have to cherish every moment from our life. We don t know when will we leave this world, that’s why we should enjoy life everyday to the fullest that we can. If ever we feel doubt or alone, we should remember that we always have our friends or family to carry on. In the short story, I felt that Mrs. Mallard wasRead MoreVideo Games : Violence And Violence1301 Words   |  6 Pageshas become extremely popular in the subject of violence in video games. It is rumored that games such as â€Å"Call of Duty, Mortal Kombat, Battlefield, Halo and many more have been the culprit behind a recent spike in childhood aggression. Many people have their own views on the subject, but it has been most commonly deduced that aggression is caused by the games, but violence does not always follow the aggression. Violence in video games has been proven to have a direct correlation with the aggressionRead MoreSports Is A Favorite Pastime Of Humans For Many Years1543 Wo rds   |  7 Pageshave started to evolve these games ourselves using math and science to change and how we see the game. Using mathematics we have developed new ways to analyze the players of sports specifically and especially in basketball and baseball, using statistical models, means, and averages to determine value. We have changed how we play and perceive these sports to find the most effective and efficient ways to play them. While scouts used to just go by the â€Å"eye test,† meaning how the player looks while heRead MoreSteroids And Other Performance Enhancing Drugs1678 Words   |  7 Pagessteroids is then given an agreed sentence of suspended games, sometimes they are even revoked of their chance to be in the exalted MLB Hall of Fame in Cooperstown. The use of steroids and other performance enhancing drugs should be more heavily managed and more severely punished. For years my coaches have told me that baseball is a metaphor for life. This is true in many ways. There are countless activities and goals one can chase after in life, but all of them are based on the person’s characterRead MoreCareer Mode And Single Player1346 Words   |  6 Pagesfrom RedOctane, Harmonix and MTV Games, the genre of gigantic interactive controllers is no longer confined to dance pads, imitation firearms and the slightly disturbing chainsaw that now comes with Resident Evil 4. Guitar Hero for PlayStation 2 costs a mean $70, including all the essentials for videogame musicians: game guitar-shaped controller, instruction book and shoulder strap. The pieces can all be purchased separately, but the intrinsic flaw with the game is that none of the parts willRead MoreJackie Robinson s Influence On Baseball And America1392 Words   |  6 PagesJackie Robinson’s Influence in Baseball and America Baseball has been known as America’s great sport since the 1920’s. Many people love to watch the games and create their own fantasy teams because they look up to the wide, diverse players on each team. Every team consists of males of different races and this helps bring culture into the great game. Having such a big diversity in one sport makes it easier for more people to enjoy because there is something in it for every person. However, baseballRead MoreConflict Twelve Angry Men974 Words   |  4 PagesDiscuss† †¢ Juror 8’s admirable character, the way he approaches the case †¢ Inquisitive †¢ Open minded †¢ Not allowing personal views or opinions to influence his decision †¢ The challenge of presenting his view across to other jurors †¢ Prejudice †¢ Bias †¢ Wanting to go home †¢ The fact that had he not been there, the boy would have been found guilty †¢ Seen as a hero †¢ Rose wanted to highlight what it could mean to be someone like Juror 8 Considering someone a â€Å"hero† comes down

Go back to where you came from Essay - 1102 Words

Go Back To Where You Came From Analysis - Religion Go Back To Where You Came From is an Australian documentary/reality show in which participants are given the opportunity to experience what the life of refugee and asylum seeker can be like, albeit edited and packaged for an audience. During the course of the three hour long series, the six individuals not only have the chance to get under the skin of a refugee in terms of achieving a greater degree of insight into what being a refugee really means, but also to get on the viewing audiences nerves in perhaps all or any of the of the first three senses described above. Moreover the refugees participating in the series may ‘get under the skin’ of the programme participants and the†¦show more content†¦I could’ve gone over there with a gun and shot the lot of them. Isn’t that terrible (Go Back To Where You Came From Episode 1 6min17sec) Raye refers to her own space which is disturbed, not by the arrival of individual refugees per second, but by the presence of a building, a physical solid object containing and restraining refugees, this building intrudes into Raye’s visual field and impinges and presses upon her metaphorical skin, the idyllic space surrounding her home. When she says she could have gone there and shot them with a gun, she is not literal as she concedes in her tag question. She is, however, pulling away metaphorically from the object of her disgust. The fact, the image of a gun carries a two-fold effect; the metaphorical â€Å"killing† of the detainees would effectible remove them, and the firing of the gun entails recoil, in which the holder of the gun is thrown backwards from the target being fired at. Darren In contrast to Raye’s discourse of violence, Darren’s disgust for asylum seeking boat people is expressed as moral opprobrium, expressed from the comfort of his own living room, with his family watching TV; Darren; we’re getting bombarded with boat people coming and it was only a matter of time before Christmas Island happened. Seeing children drown after their boat crashed against the rocks. It’s awful. I just couldn’t imagine that position so we need to send a tougher signal out that this is notShow MoreRelatedGo Back to Where You Came from Documentary Analysis Essay786 Words   |  4 PagesTask 1 There are many different views about refugees in Australian society, where illegal boat people and over flowing detention centres are a controversial problem today. Go Back To Where You Came From is a documentary directed by Ivan O’Mahoney about a social experiment that challenges the dominant views of six Australians about refugees and asylum seekers. These six Australians are taken on a 25 day journey where they are placed into the troubled â€Å"worlds† of refugees. For a few of the AustraliansRead MoreAnalysis Of Edgar Allan Poes Go Back To Where You Came From957 Words   |  4 Pagesuncovered. Exploring new worlds, people and places, thrilling the individual to reevaluate their understanding of the world and society transforming perceptions. This is explored in the reality documentary series directed by Ivan O’Mahoney’s ‘Go Back To Where You Came From’ which encapsulates the hardships of asylum seekers catalysing the participants emotion al and intellectual rediscovery. Furthermore, Edgar Ellen Poe’s poem the ‘Raven’ examines the impacts of stress and anxiety of a heartbroken lover antagonisedRead Moreâ€Å"What Do You Want to Be When You Grow Up?† Essay1103 Words   |  5 PagesJennifer Smith English 111 February 16, 2011 Essay One - Revised â€Å"What Do You Want To Be When You Grow Up?† We are usually asked this question very early in life: â€Å"What do you want to be when you grow up?† It’s one of the biggest questions asked of children, from toddlers to teenagers. It’s always asked to help encourage kids to think of their future. After all, how many children really know what they want to do with the rest of their lives? Oh yeah, there are those lucky few who have aRead MoreAnalysis Of The Book The Great Gatsby By F. Scott Fitzgerald1388 Words   |  6 Pagesthere was a boy. His name was Ross Howner. He was only a peasent to most, he lived in a small village called skedia in the far corner of the kindom masonia. Just as every other person though, he had a secret. His secret was far more greater then most. You see, Ross was a warlock, so he had magic. But if anyone found out he would be hung at the sight,  for the kind of Masonia despised magic.  His mother was the only one who knew about his magic, for  she had magic too.  His dad hated magic almost as muchRead MoreSummary : The Hell 785 Words   |  4 Pagesit , it wasn t even worth trying. YOU HAVE A BONER? Oh, what the fuck? The fuck? Ryan whisper-yelled. I don t even wanna know. Brendon s eyes widen a bit, he sunk in his seat even more. *** My butt is hurting, Houston complain for the fifth time already. Same Ryan agreed with Houston. Brendon come on, Houston shouted at her brother to hurry up. Don t rush me, I m already scared to death, don t make it worse! Brendon shouted back carrying his pass out sister in the hospitalRead MoreShort Story721 Words   |  3 Pagesacross from the park! Sylvester wanted to hear more. We sneak in the building. Steal a few blankets from the tramps that live there while they are out, running around looking for food!† â€Å"What if someones there?† â€Å"Well,† Chase heaved in a deep breath, stared at Sylvester and said. Well have to deal with it as we go!† â€Å"Deal with it?† Sylvester asked. â€Å"You arent gonna cop-out on me are you?† Not wanting to look cowardly, he told Chase. â€Å"No, Im not, gonna cop-out on you!† â€Å"Lets go.† They leftRead MoreHow Technology Has Changed My Life982 Words   |  4 Pageshas grown up with technology at their disposal. It is everywhere now. I started using technology when I was six years old, and I fell in love with it. I knew from there on out I was going to grow up using and studying the works of it. The very first piece of technology I have ever used was a desktop computer in 2002. I obtained this item from my grandfather that was into technology at the time also; he wanted to pass down information to me. Being able to grow up with something so sophisticated hasRead MoreIan, Ian And Sarah1134 Words   |  5 PagesOne sunny, bright morning, Ian and Sarah were playing hide and seek in Ian’s backyard. It was Ian’s turn to hide, and he decided to go over the fence into the woods. Sarah will never find me here, Ian thought to himself as he walked deeper into the woods. â€Å"Ready or not, here I come!† he heard Sarah yelling. â€Å"You’re never going to find me!† Ian yelled to Sarah as he jumped over a fallen tree. Sarah looked all throughout the yard and couldn’t find Ian. She remembered that there was a tree stump inRead MoreMilitary Discipline Essay1033 Words   |  5 PagesMilitary Discipline Where to start, lets see discipline in the military from the beginning to now. Well from the start of the civil war the military was not as it is now. Then solders was a solder 24-7 back then, and the only time they had to them self was when the war was over. Now, we still solders 24-7 but we have more personel time to deal with familys and to start a family. But that is up to the solder, anyway over the years the military had to change to keep the morale up in the militaryRead MoreThe Giver Chapter 3 Summary764 Words   |  4 Pagesit was really old so they didnt know what to do? So Jonas was trying to ask someone to go stay with him until they find dwelling to live in but the guy said refused. â€Å"the guy said do you even have a dwelling to live inâ€Å". â€Å"Jonas said No, I couldnt find a dwelling to live in but I only found you†. â€Å"But the guy said sorry I only have one room to live with my family†. Jonas was mad because he didnt know where to live. so Jonas and Gabe kept walking and they were talking to each other. â€Å" â€Å"Gabe asked

Virginia Mason Medical Center free essay sample

Virginia Mason Medical Center BY Lex0411 Virginia Mason Medical Center Case 1. What is Gary Kaplan trying to achieve at Virginia Mason? Dr. Gary Kaplan was trying to achieve change at Virginia Mason. He envisioned the transformation of Virginia Mason Medical Center into the quality leader in health care and sought to lead the organization toward this vision. When Dr. Kaplan Joined VMMC what attracted him to the medical field was a collaborative team approach and Virginia Masons unique culture that was created in the early 1900s. With time VMMC started to face challenges, competition was fierce and VMMC soon began to xperience financial troubles. In addition, its employees were unhappy and the staff morale around the hospital was declining. Kaplan noticed that change had to be made to the way VMMC ran its hospital. Kaplan proposed that VMMC follow Toyota Production System management method to restructure the way it ran its physicians, nurses and support staff. He felt that NMMCs goals were similar to Toyota, especially putting the customer/patient first, focus on quality and safety, and a commitment to employees. Kaplan was trying to achieve this change while keeping the unique culture that VMMC began with so many years ago. 2. How does the Toyota Production System fit into his strategy? Dr. Kaplan and executives at VMMC had created a strategic plan focused on becoming the quality leader in healthcare; however he lacked a system to achieve this goal. Kaplan felt the Toyota Production System (TPS) was an appropriate match for the VMMC because of the similarities in goals that they both shared and desire to achieve them. VMMCs new vision aligned with Toyota model including its priorities of putting the patient/customer first, along with satisfying quality, safety and its employees. Traditionally, VMMC had taken cost savings approaches by consolidated less rofitable business lines (obstetrics, mental health) and reducing academic spending (travel, research time). Kaplan felt these activities were putting academics to the wayside. He sought to apply TPS for other cost savings opportunities such Just in Time OIT) production. Similarly, he felt the detection of abnormalities in the production process could be applied to patient care. TPS was not the first production model to be imported into the health-care delivery organizations. For decades hospitals had tried several management models drawn from production industries such as Total Quality Management (TQM) and Six Sigma. VMMC has previously utilized TQM in the 1990s, but the concepts had failed to gain traction. Value-stream mapping would give him a better idea of the gaps in VMMCs work flow. Value-stream mapping would encompass patient check-in, visits, inventory and flow of equipment. Kaplan felt that by starting with the value-stream mapping it would set the base for the implementation of Virginia Mason Production System. By applying the plan of action that TPS used and modifying it to fit VMMC, within the year Kaplan started to see positive results from the various strategies that were exercised. 3. What is your view of the people are not cars debate? We agree with the statement that people are not cars and that each patient is unique when it comes to diseases, treatments, and personal emotions. With that being said, when a new process or system is in place some people have difficulties adjusting to change, they tend to look at the negative vs. the positive outcomes that can be achieved from a new model/process such as VMPS. Also, people tend to want change to take place immediately and that is not always the case. When something new is being implemented it will most likely take some time to reap the benefits. We believe that there are tangible benefits can be realized through the adaptation of the TPS model. Opponents argue the TPS system Jeopardizes their autonomy and clinical creativity. However, the system adapted from TPS, actually seeks to maximize patient outcomes through the elimination of waste and efficiency improvements. In return freeing up more time for clinicians to spend with patients, families, or pursuing academic endeavors. 4. Is Kaplans approach transferable to other US hospitals? We believe that Kaplans approach is transferable to other US hospitals. Proven esults have been demonstrated especially for the oncology or cardiovascular units. I think that these two departments will seek the most benefits from Kaplans approach. This approach was already tried by The University of Pittsburgh Medical Center (UPMC) and they saw benefits early on in the transition process. For instance, they applied TPS and they immediately saw a decrease in patient waiting time, patient registration, medical chart and having supplies available. If UPMC is able to switch to a manufacturing model, then any other US hospital will be able to do the same as ong as they are able to modify the process to their environment and culture. We believe VMMC was uniquely poised for success. The executives, board of directors, physician, and staff were willing to embrace change. VMMC was founded on the principles of teamwork to offer patients comprehensive medical care. To be replicated in other hospitals solid leadership and support must be obtained throughout the organization. A commitment to achieve the goal and belief in the strategic plan is essential. metrics. For example, the redesign of the physical layout for treatment rooms has ot only improved the patients view but also it created more space so that physicians and nurses are maximizing their travel time and communication.