(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. 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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. 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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.

Hill create a powerfully dramatic sense Essay Example

Hill create a powerfully dramatic sense Essay How does Hill create a powerfully dramatic sense of fear and tension in the crow extract? Susan Hill uses the crow extract from Im the king of the castle to create a powerful and dramatic sense of fear and tension to portray a number of points. Using examples from the text this essay will explore the relation between Edmund Hooper and the crow, how hill makes Kingship seem vulnerable, the ways Hill uses sentence structure, and the hostility of the world. Susan Hill has chosen very powerful diction to emphasize the crows violent movement and its symbolic nature ND through this she creates a strong sense of anxiousness and fear and draws parallels between Hooper and the crow. The phrase it rose up suddenly, circled overhead, and then dived is used to describe the crows violent movements. The use of the phrase circled overhead hints at the predatory nature of the crow, and suggests that Kingship is the disoriented prey and victim at this instance. It reminds us of Hopers Instinctive knowledge of Shanghais whereabouts at all times, and the crows overhead position Is reminiscent of Hopers desire to be high up, at a vantage mint at all times, ever-watchful. This Is evident In Hopers decision to choose the narrow room with a tall window. Above him, there were only the attics. Furthermore, the crows vantage position may indicate that, to Kingship, it is blocking out the light similar to Hopers malicious character overshadowing all the other problems in his life. We will write a custom essay sample on Hill create a powerfully dramatic sense specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Hill create a powerfully dramatic sense specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Hill create a powerfully dramatic sense specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The specific use of the diction dive connotes a very violent, vicious action and implies that the crow is a threatening creature attempting to wound Kingship, symbolizing Hopers hurtful and spiteful bullying. The crow possesses all of Hopers heartsickness: hatred, mercilessness, cruelty, persistence, deviousness, territorial obsession, and is an annalistic representation of Hooper. It is especially significant that the chosen bird Is a crow, an animal closely linked with sorcery and evil, and often depicted In myths as capable of conscious thoughts and emotion. This produces an Incredible sense of fear and tension as Hill tells the reader that Hooper will always be there, no matter where Killings goes, It dramatically highlights the Intense fear and frustration of Kingship and creates a sense of despair. It also reshows Hooper following Kingship and how Hooper might strike at Kingship again. Hills use of words and sentence structure intensifies the fear and tension the crow extract. Hill also uses a range of techniques to intensify Shanghais insecurity. This can be shown through the text, The crow dived again, and, as it rose, Kingship felt the tip of its black wing, beating against his face. He gave a sudden, dry sob. Then, his foot caught in one of the ruts and he keeled over, going down straight forwards. This passage is very effective in traumatizing Kingships anxieties because t is very visual, and the reader can see everything that happens in their minds eye. It uses lots of verbs and adverbs rather than adjectives, such as rose, and caught, which help the passage to move swiftly as It Is read. Hills sentence structure further Increases the tension and fear through the use of short sentences with a lot of commas to make teen extract very Taste Ana Intense. I Nils also noels to AAA a to teen Dull- up of the climax, which Susan Hill creates to emphasize the intense fear and frustration Kingship feels. The use of the tractor ruts in this case, is very effective, cause it results in Kingship falling flat on his face. This acts as symbolism, showing how the tractor ruts are like Kingships anxieties and phobias, because they cause his character to break down, and his self confidence to fall, like they cause him to do physically. This also creates a sense of fear and tension as Kingship is completely vulnerable and insecure and he is running away, this foreshadows that something terrible might happen as the world around him is very tough and kingship is extremely delicate. The world that Hill creates produces a massive sense f fear and tension through its hostility. Hill portrays this through the words, rough field, coarse grass and dropped sharply. These word work together to create a sense of fear as everything around Kingship seems to hurt him, and Kingship is completely vulnerable against the harsh hostility of the world. Rough and coarse indicate that the very ground that Kingship steps on hurts him, it emphasizes the fact that Kingship is completely vulnerable and powerless. At the beginning of his walk, great black shadows laid across the entrance of the copse; this foretells the tart of Shanghais hardship at Warning. This hardship is further showcased through the fields that sloped upwards, representi ng an uphill battle, a losing battle. Along his walk he kept stumbling in the ruts that had dried hard . A sense of desolation and negligence is shown through the words dried and hard, denoting Shanghais future distant relationship with his mother. Additionally, the diction struggling connotes the hardships that he will face during his time at Warning. The hostility of the world that Hill creates, produces an enormous sense of fear and tension as it ally emphasizes that Kingship is completely vulnerable and powerless, it creates tension and fear as it foreshadows that Shanghais hardships will never end and that he will forever be powerless and insecure. A multitude of reasons demonstrate crow extract in Im the king of the castle Is striking. The hostility of the world is made apparent through hills use of language and descriptions, like when Hill describes the grass as coarse, it suggests that everywhere Kingship goes, his hardships will never end. The insecure and vulnerable nature of Kingship is exemplified when Kingship alls into the rut face first and make his self confidence fall Just like his fears in his mind. The similarities between Hooper and the crow are illustrated through the thought process of Edmund Hooper and the symbolism of the crow, the infatuation with power, territorial domination and masculinity is highlighted. The overall imagery and techniques used by Hill, which range from a varying sentence structure, to the description of the hostile surrounding world and the foreshadowing of a climactic scene later on in the book, creates a powerfully dramatic sense of tension and fear.

Nintendo Marketing Report Essays

Nintendo Marketing Report Essays Nintendo Marketing Report Paper Nintendo Marketing Report Paper Report on Nintendo plc Table of contents Table of contents2 Introduction3 Exchange process4 P. E. S. T. E. L Analysis5 Segmenting markets6 Marketing information and research7 Product Anatomy8 Product Life Cycle9 New product development10 References12 Introduction Nintendo is the worldwide innovator in the creation of interactive entertainment. Based in Kyoto, Japan, Nintendo, Co, Ltd manufactures and markets hardware and software for its Wii, Nintendo DS, Game Boy Advance and Nintendo GameCube systems. Since 1983, Nintendo has sold nearly 2. billion video games and more than 420 million hardware units globally, and has created industry icons like Mario, Donkey Kong, Metroid, Zelda and Pokemon. Founded on September 23, 1983 by Fusajiro Yamauchi Nintendo has since The exchange process (Transactional marketing) The exchange process is essentially the â€Å"bottom line† when looking at the principles of marketing from an organisational perspective. Followed closely by profitability, transactional marketing can be recognised within both popular and accepted definitions of marketing. Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably. (Chartered Institute of Marketing 2001) Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchange and satisfy individual and organisational objectives. (American Marketing Association 1985) The exchange process is identified specifically within the (AMA) definition where it refers to exchange as a result or goal of correct practice of pricing, promotion and distribution of goods and services. Below are a couple of examples of the transaction process when customers purchase Nintendo products. When a customer buys a Nintendo product they are entering into a luxury good transaction. This means that the customer is spending a fairly substantial amount of money. With this in mind the customer must have preconceptions and expectations of what they will get from the product. These will either come from advertisements or past experiences. Specifically, if an individual is willing to pay over a hundred pounds for a pocket sized Gameboy, the product must in turn provide the desired output which in this case is fun. Transactional marketing is simply the customer and organization entering into a deal where both parties receive something of value. Nintendo have recently expanded their market to include families and people of all ages. The reason for this expansion is the Nintendo Wii. This product can harbour up to 4 players and Nintendo have released an advertising campaign showing families enjoying product together. In exchange for their cash families and individuals are made aware that the Nintendo Wii will provide fun for years to come. P. E. S. T. E. L Analysis PoliticalEnvironmentalSocioculturalTechnologicalEconomicsLegal Health and safety is a key area the government look for when scrutinising companies. A way in which they are doing this is to ensure that all products pass strict Quality standards. Like all other major corporations Nintendo is subject to intense global pressure to go â€Å"greener† and protect the environment. According to the official Nintendo website all factories and offices recycle paper, plastic and cardboard and In all their shipping they use recyclable goods. Nintendo have recently been targeting older markets with their DS console. Games and applications such as brain age and Sudoku have been enticing sales from the over 25 market. (Note reference A. )During recent years Nintendo have had the majority market share of the portable videogame market. Yet it is currently in direct competition with Apple and the I-phone. (Note reference B)Nintendo’s quarterly profit rose by 31. 5 percent since last year, (2008) from 90. 63 billion yen a year earlier to 119. 19 billion yen. Thats roughly 500 million pounds. (Figures from www. itfacts. biz) Nintendo is involved with many legal issues to mainly ensure the safety of their products; Copyrights. Trademarks Patents Counterfeits Liscences. Etc. British and Quality standards are safeguards put in place to ensure that any products released into the UK market are safe for use or consumption. Nintendo have to take into consider many things when concern with quality standards. Nintendo have contracts with vendors to ensure proper recycling of all electrical goods. Products no longer include styrofoam in either software or hardware. Nintendo have greater than 99% recycling rate of all product returns and repair parts. They also offer a take back programme with consumers for all older products. The generic gamer market is males aged 18-34. After releasing the Nintendo Wii this market has expanded significantly. It is now common for a households and even pubs to incorporate The Wii entertainment system. Nintendo have been continuously innovative within the last 20 years and the technology introduced within the Nintendo Wii has proved highly effective in keeping ahead of its direct competitors; (Xbox, Playsatation 3)Sales of the Wii have jumped by 51 percent since Q1 2008 to 5. 17 million units since April. In the same quarter, PS3 sales reached 1. 56 million units and Xbox 360 shipments hit 1. million units. (Figures from www. itfacts. biz) A copyright gives the owner of the product exclusive rights to sell and reproduce it, Nintendo has copyrights over software, game visual display, game music, game characters etc. Two of the main issues associated with Nintendo’s products are ; Electrical goods and Safe for use of children. Nintendo also have their own company stand ards. (Ref D)Nintendo products tend to have long-lasting value, as many consumers hang on to them long after having upgraded to new consoles or hand held units, accessories or software. For used, working Nintendo products, there are a variety of online options to sell these products to interested fans. Specifically Nintendo has approached the female market by introducing applications for the Nintendo DS where users can follow recipes and watch videos while doing so. It has been said that up to 80% of the Nintendo Wii users are female. The Nintendo Wii is the only games console to date where physical activity has been introduced. In many people’s opinions the Wii fit games have arrived at right time within a health conscious society. Nintendo is taking up the largest market share of all the competitors within the global video game market, this recent influx is largely due to the success of the Nintendo Wii. A patent is a grant of the exclusive right in an invention for a period of time. Nintendo owns many software, hardware and design patents. (Reference A) ‘More than three million copies of Brain Age have been sold in Japan since 2004, and more than two-thirds of the buyers were older than 25. The U. S. version will cost $20 at Best Buy and other retailers. SEAN ONEILL’ Apr 2006. (Reference B) Nintendo, whose gadgets and software dominate the portable-videogame market, faces the greatest risk from the emergence of Apples iPhone and iPod Touch as gaming platforms. But Mr. Iwata says attempts to create a rivalry between the two companies make him uncomfortable, because he says it isnt true. He argues the companies appeal to different consumers. Yet Apple has made clear that it intends to go after Nint endos turf’ (Daisuke Wakabayashi. Nov 11, 2009) (Reference C) This Official seal of quality shows the consumer that the product is authentic. Segmenting markets (Psychographic) Geographic segmentation is dividing the market depending on its location. Nintendo is a worldwide corporation so it needs to be able to acknowledge all areas of the developed world. The global marketing strategy of the Nintendo Wii, is concentrated mainly on Nintendo’s three key markets of Japan, United Kingdom (UK) and United States of America (US). Demographic segmentation tells us specifically about the customer, they profile the customer into age, gender, race, income, occupation and social status. Nintendo have recently expanded their market targeting specifically women nd the over 25s. Geo-demographic can be defined by combining the above two segments. This particularly helps organisations to understand how and where their customers live. Behavioural segmentation takes into account the buyers relationship with the product. Factors such as benefits sought, usage rate, loyalty, attitudes and buyer readiness all come into behavioral segmentation. Multivariable segmentation refers to using a number of different variables and types of segmentation to develop a rich profile of a target group of customers. Nintendo undertake this process to access any underlying target market. Psychographic segmentation is also known as lifestyle segmentation. Psychographics go deeper than other variables and attempt to engage the customer on more of an emotional level. ‘The term lifestyle is used in its widest sense to cover not only demographic characteristics, but also attributes to life beliefs and aspirations’ (Brassington and Pettitt 2008, p. 205) With this in mind the marketer can make calculated assumptions about a lifestyle group’s buying habits or traits. In 2001 Mazzoli carried out extensive market research in France to identify and understand various lifestyle groups. After the research had been carried out he found that six lifestyle groups had emerged. (Brassington and Pettitt 2008 p. 203) Although the participants made up a small fraction of the French population, it was useful information because the groups clearly reflected a much larger number. It is also common for marketers to break this segment down into 4 bits; Activities, interests, opinions and demographics. It is important for Nintendo to be conscious of its target market’s activities because this is essentially what they are tapping into and emulating with their products. When the Wii was first released it was targeted at the younger gamer market (Males aged 12-25). The games that were introduced at this stage included Wii sports, bowling, golf, and the generic Nintendo games such as Mario cart. By releasing games such as these Nintendo put themselves at risk of closing off large sectors of potential markets. With many consumers the Wii was perceived as a â€Å"kiddie console†, this was not their aim. Nintendo has countered this by expanding their market to include older generations and females which they have done so successfully. So successfully in fact that the number of female users of the Wii now far surpasses males, (Note table A) Table A POLARIS MARKETING RESEARCH COMPANY2EUROPE INTERNATIONAL MARKETING RESEARCH COMPANY Customer satisfaction surveys. Polaris offers a service where they conduct a huge number of customer satisfaction surveys. This is done in a number of ways including telephone, internet, IVR, and mail. This would be very useful to Nintendo because it would provide them with valuable customer feedback. 2Europe provides a full range of qualitative marketing research services across Europe including, focus groups, face to face and telephone executive depth interviews. 2Europe provides focus group venues of research partners in each European country, Nintendo are a global company so relations within foreign countries is very important. This will help to familiarise them with markets of different cultures and also public opinion. Unlike Polaris, 2Europe can help the organisations with Business to Business interviews. This would be beneficial to Nintendo as deals need to be made with wholesalers and distributors on a worldwide scale. Brand research and planning, Polaris state ‘Brands exist in the marketplace and as such there are three separate sets of forces working on your brand and determining how it is perceived in the marketplace. First is your company and the actions you are taking in the marketplace, next is your competitors and the actions they are taking for their brands and against yours. Finally, economic and social trends impact your brand. ’ Polaris claim to make your brand robust within current and future markets. Nintendo is one of the most successful brands in the world and thus does not require any external brand management. 2Europe also provides a range of qualitative research capabilities. These include face to face street interceptors, mall tests, Online surveys and telephone interviews. Quantitative research is predominantly the most reliable type of market research as it puts the company and its customers in direct contact. The data collected will be put into manageable charts and tables so the company can understand the results. This type of research is often required when companies are trying out new products and because Nintendo is a continuously innovative organisation it would be essential for it to undertake some sort of quantitative research. Employee Surveys Measure Employee Satisfaction, Polaris will conduct employee satisfaction surveys that will measure the organizational communication of the company emphasizing the downward and upward communication in the organization. This could prove very valuable to Nintendo as they are a large organisation and ‘it is an organization’s employees who influence the behaviour and attitudes of customers, and it is customers who drive an organization’s profitability through the purchase and use of its products. ’ (Research from Northwestern University)As indicated within the title, 2Europe are an international research company who attract businesses hoping to understand and work within the European market. This can at times seem like an insurmountable task and the barriers that often occur are languages, culture, local economy and lack of communication. Europe have put together a four step programme to minimise the risks. ‘Appoint an experienced project manager, Establish a clear ‘Implementation Process’. Create a baseline for analysis. Minimise the variables’ (2Europe marketing research official website) Nintendo are aware of their three most successful and import ant markets; Japan, United Kingdom (UK) and United States of America (US). In order to be more successful within central Europe It would be beneficial for Nintendo to incorporate a programme Similar to the one 2Europe offers. Customer Retention part of Customer Lifestyle Research, A customer lifecycle market research survey program could included surveying prospective customers, competitors customers, new customers, loyal customers and previous (lost) customers. Conducting these surveys could possibly make Nintendo aware of why they have lost customers to their competitors. This is important information because in order to stay ahead of your competitors Nintendo must understand what they are doing to entice customers from the same market,Similarly to Polaris, 2Europe recognise the importance of employee loyalty and satisfaction. Ways in which this can be measured is by asking employees for their feedback, Finding out how the employees rate key aspects of the organisation often provides the senior managers with valuable information on how to improve employee satisfaction. Nintendo currently have 3400 employees worldwide and to ignore their input would be counterproductive. With growing evidence to suggest employee satisfaction directly correlates with customer satisfaction it would seem wise for Nintendo to pay attention to this area of research. Anatomy of a product When looking at the anatomy of a product for Nintendo or any other organisation, it important to break the anatomy down into four key sections; core product, tangible product, augmented product and potential product. Nintendo’s current core product is the Wii console. The console on its own is obsolete and without such augmented products such as games and controllers the customers will be distinctly unsatisfied. However, when the console is used in conjunction with these products the core benefit of the product comes to life. As previously stated the Wii is an expensive luxury good and its main purpose is to provide the user(s) with endless interactive fun. The core product is a durable product meaning it will last for years and have multiple uses. Although the Wii is currently retailing at ? 169. 99 it is a relatively low risk product, this is because the customer will have used the product before purchase and Nintendo offers warranties and easily available repairs. With many customers the brand name Nintendo is linked with providing hardwearing quality goods, this is assumed by its millions of loyal customers worldwide. The tangible product is essentially the marketer turning the core product into a real product which embodies the core benefit. In the case of the Nintendo Wii the tangilble product includes product features, quality level and branding and packaging. The features the Wii boasts are Wii sports, a set of interactive games that emulate real sports including golf, boxing and tennis. Quality level can be related to the visual display of the console. The graphics of the gameplay, clear crisp pictures are more likely to encapsulate the user. The augmented product represents add-ons to the existing product. This is very important within the gamer market as successful augmented products can boost the sales of the core product. For example if a videogame is released exclusively on the Nintendo Wii and it brings in lots of revenue, customers who don’t own a Wii console will purchase one just to play this game. The Wii is often sold in packages including games and controllers. Customers are commonly subject to marketing ploys by Nintendo where they will have to buy various augmented products such as memory sticks and rumble packs. Customers are lead to believe these products will intensify the gaming experience. The three previous sections have described the product as it is now where as the potential product describes the product as where it could be in the future. If we look at the Wii when it was first released it was directly aimed at the younger gamer. After Nintendo’s successful market expansion it is now used by people of all generations and genders. This is a result of correct use of product potential when the product was in the early stages. Product mangement (Product life cycle) There are four key stages within the product life cycle and it is important to think of the product’s life within the market. These four stages are introduction, growth, maturity and decline. Introduction, when a product begins its life within a market, sales will be slow and profit will more often than not be negative. The speed in which sales and profit increase is a reflection of how well the product has been promoted and the levels of anticipation created. The marketer’s main aim within the introduction stage is to create wide spread awareness within the selected market it is essential that within the introduction phase the correct promotion is fulfilled because this could prove extremely damaging to sales and profit if the introduction stage is prolonged. Then Growth stage is where the sales begin to increase significantly, this could be because product awareness is spreading rapidly and reputation is building. This is also the stage where profits begin to rise quickly, in many cases this can be due to repeat purchases, but in the case of the Nintendo Wii it is likely to be due to reputation and widespread promotion and awareness. Competitors will often try to combat an organisations product during its growth by releasing a similar product at a cheaper price. This will threaten to flatten the growth curve unless something is done to retaliate. In order to maintain a growth curve the organisation may have to lower prices to compete. When the product reaches its maturity phase it has achieved the optimum sales and profit. This is essentially the stage where repeat and loyal customers have been established. There will be heavy price competition from competitors and the market is generally stable. There will be short run booms due to certain augmented products being released but the product will typically begin its decline hereafter. Once a product has reached its decline it is nearly impossible to stop it. This stage is where the sales and profit slow down rapidly and most people who liked the product have already purchased it. It is of the discretion of the marketer whether they want to milk the product, which means withdrawing support of investment or promotions and try to get as much profit out of it as possible, or regenerate some sales by increasing advertising etc. The Nintendo Wii is in the maturity stage of the product life cycle. The product has been on the market for over two years and after a recent successful regeneration due to releases of Wii fit and fifa 10, the Wii will sit in the maturity stage until subsiding to a decline. New product development ‘A market characterised by dynamically continuous innovation tends to involve new products with a significant degree of innovation’ (Brassington and Pettit 2008 p. 387) an example of a market that is dynamically innovative is the Men’s razor market. Companies such as Gillette, Mach and Braun are always competing for the next best razor. These are continuously innovative companies as roughly every 6 months they seem to release a razor that is different from the previous one. It is however important that these new products still resemble a generic razor. Companies can put themselves at risks of alienating themselves within a market if a product is too distinct or complicated. This type of innovation definitely applies to Nintendo because they are always competing with Playstation and Xbox within the gamer market, The Nintendo Wii has was the most innovative console to date and Nintendo’s competitors are working harder than ever to combat irs success. Discontinuous innovation is by far the hardest and most sought after market to be in. Usually linked with entrepreneurship, companies strive to come up with the next big thing. This type of market requires a whole new learning experience from the customer as they are dealing with something entirely new. Marketers have to make the customers aware of the product and try to explain it before purchase. This is extremely hard to achieve because if the product seems too complicated the company is at risk of losing a large customer base. References Beth Snyder Bulik. Advertising Age. (Midwest region edition). Chicago: May 8, 2006. Vol. 77, Iss. 9; pg. 24, 1 pgs SEAN ONEILL. Kiplingers Personal Finance. Washington: Apr 2006. Vol. 60, Iss. 4; pg. 26 Daisuke Wakabayashi. Wall Street Journal. (Eastern edition). New York, N. Y. : Nov 11, 2009. pg. B. 5 www. itfacts. biz (27/11/09) BRASSINGTON,F. , S. PETTITT, 2008, Principles of marketing fourth edition, Harlow, Pearson education www. wiitalk. co. uk/forums/general-wii-discussion/14866-demographics. html (02/12/09) polarismr. com/brand-audit. htm (03/12/09) incentivecentral. org/pdf/employee_engagement_study. pdf (03/12/09)

Delinquent Juveniles Should Not Be Tried as Adults Essay

Delinquent Juveniles Should Not Be Tried as Adults - Essay Example Initiation of early intervention programs and counseling will effectively deter juvenile delinquency. Delinquent juveniles should not be tried as adults Introduction The criminal justice system experiences many problems that hinder it from reducing the crime rates in the US. Despite the efforts that have been made in policing, prosecution, and sentencing of the criminal acts, the criminal justice system has remained ineffective in deterring crimes. One of the major problems with the criminal justice system is trying and sentencing of criminal juvenile offenders as adults (Siegel & Worrall, 2012, p. 315). Juvenile offenders lack the mental and emotional capacity to form intent and understand the consequences of committing crimes. According to the legal definition, a delinquent juvenile is a child who commits criminal acts that are punishable by law. According to the sociological perspective, a delinquent juvenile is just a child with antisocial behaviors in the society. The criminal j ustice system should aim at rehabilitating the juvenile offenders and not punishing them. Judges, lawyers, and prosecutors obstruct the processes that must be followed in trying the juvenile offenders. Almost all States have amended the laws to make it easier to sentence the juvenile offenders as adults (Siegel & Worrall, 2012, p. 315). ... presentation of the juvenile offenders during the trial and constitutionality of the harsh punishments has made the criminal justice system ineffective in prosecuting the juveniles. Juveniles have been prosecuted for joint crimes with adults in crimes that may not have involved the use of violence or physical injury of the victim. According to the US laws, juveniles of 14 years lack the legal capacity to hold a driver’s license, to seek employment, or enter in to legally binding contracts on their own. Children are required to attend school and receive adequate protection of the government in protection of their rights. The above concept of the law has been ignored by the criminal justice system, since juvenile offenders lack the cognitive and mental capacity to reason and form intent while committing criminal acts like murder and assault (Albanese & Dammer, 2011 p. 265). Young teenagers experience varied emotions and behavior swings due to high vulnerability to pressure and s ocial stress and, therefore, lack the mental ability to resist the risk taking behaviors like drug abuse. Juvenile offenders experience low social status in the society than adults. In 1994 alone, 2.7 million juveniles were arrested by the police for engaging in numerous crimes including violent crimes, status offenses, and non-violent crimes. In the same year, over 12,000 delinquency cases were referred to adult criminal courts by a process known as certification. The waiver of jurisdiction allows the juveniles of the ages of 16 and 17 years to be tried as adults in the adult criminal courts (Smith & Cole, 2008, p. 398). According to a Supreme Court ruling in the case of Stanford V Kentucky (1989), juveniles as young as 16 years can receive death penalties for juvenile criminal acts. About