The reasons why the FASB and the IASB seeking to converge and improve Essay

The reasons why the FASB and the IASB seeking to converge and improve their respective conceptual frameworks and why the project will take along time to complete - Essay Example Following are some of the reasons for the convergence of accounting standards. †¢ Harmonize the global accounting standards so that the users of financial statements feel harmony with rest of their other counterparts anywhere across the globe. †¢ Making the financial statements of the entities comparable all over the world in respect of the accounting policies used by the entities †¢ Eliminating the impact of biasness and partiality from the financial statements such that integrative and objective financial statements can be prepared †¢ Providing opportunities especially to multinational companies to prepare their financial statements on the basis of single common accounting standards so that the manipulations and misrepresentations can be avoided while formulating the consolidated financial statements of the whole group of companies In bringing more convergence in setting the accounting standards, yet there is a long period of time required for this purpose. Some of the reasons for such possible extended time to be taken are as follows: Legal and regulatory stoppages and restrictions which do not allow the accounting standard boards to bring so early changes in the accounting standards merely on the basis of producing more convergent accounting standards. Laws of the jurisdictions ask some real and substance based reasons to bring such changes in the accounting standards. ... Therefore practically once the accounting standards are reformulated, their adoption takes two to three years by the entities in their implementation. In a nutshell, the main hurdle for setting up the new accounting standards for the purpose of convergence, is posed by the regulatory bodies and persuading them for such changes require substantial amount of time and efforts followed by the time taken by the entities to adopt the new accounting standards after their formulation therefore making it more longer for the accounting standards to be convergent globally. Discuss the problems involved in refining, updating, completing and converging the existing FASB and IASB conceptual frameworks into a common framework, illustrating your discussion with reference to specific issues. Discuss that are controversial and difficult to resolve The major problems that arise in refining, updating, completing and converging the present accounting standards issued by FASB and IASB have significant imp lications. Most of the problems are of technical nature however some administrative issues that hinder the convergence process cannot be altogether ignored. In the following discussion some of those problems are highlighted. Retrospective changes in the financial statements In developing new standards which are more convergent in the form of a common framework, both FASB and IASB have to change their existing frameworks altogether. Due to those changes, the financial statements previously prepared under each of the accounting standards would have to be changed by the entities on retrospective bases under newly developed common framework which may display some material diversions as compared to the previously furnished financial statements. In this way the financial

Analyze the 2012 Penn State scandal using ethical thinking and the Essay

Analyze the 2012 Penn State scandal using ethical thinking and the various ethical theories - Essay Example A majority of high-level university officials were charged with perjury, dismissed or suspended for covering up the activities by failing to report to the authorities. The sexual assault charges were brought onto Jerry Sandusky for sexual assaulting at least eight underage boys near or on the university property with the full knowledge of some university officials who failed to intervene or report to the appropriate authorities. The grand jury trial dropped four of the 52 charges against Jerry Sandusky who was found guilty of 45 of the 48 counts of sex assault charges, and he was sentenced to 30-60 years in prison. This paper seeks to discuss ethical thinking and ethical theories involved in the above-mentioned case. The 2012 Penn State scandal raises some very important and crucial ethical questions regarding the incident that saw top ranking university officials cover up sex assault activities of a member of staff. On their part, the members of staff who did not report Jerry Sandus ky’s activities to the authorities or take pre-emptive measures to intervene illustrate negligence. It was the responsibility and it still is for every individual in society to report sex abuse crimes to the authorities. ... Revelations that brought Jerry Sandusky’s sex abuse charges cast Joe’s ethical responsibility in a different light that negates his role as coach and protector of his charges. Many ethical issues abound regarding this case because of its multifaceted nature in terms of rationale and perspectives. It can be construed that the university’s officials failed to report on the sex abuse cases for fear of damaging the university’s reputation. On the other hand, the plight of the abused underage boys comes into sharp focus as to what was more important between the university’s reputation and their wellbeing. According to Gigerenzer, bounded rationality is an idea in decision making that stipulates the rationality behind decision making. It states that decision making in individuals is limited by the amount of information available to them with regard to the subject in question. The finite expanse of time available to them in making the decision and their co gnitive limitations are also considered in this approach towards decision-making (Gigerenzer, 2010). The theory of bonded rationality terms rationality as an optimization tool that facilitates decision making in finding an optimal solution concerning the information available. Bounded rationality provides the decision makers with the option of arriving at decisions that are viable under their presenting circumstances. In essence, this means that due to limited resources like sufficient information and time, an individual is applies their rationality only after simplifying their choices (Hinman, 2011). This means that the arrival at a decision that ensures an optimal solution is not critically considered as paramount compared to the available simplified choices. In the case of the Penn State scandal, the officials

Mobile marketing research Paper Example | Topics and Well Written Essays - 1250 words

Mobile marketing - Research Paper Example Wireless communication has revolutionized human interactions and actions in ways that could not have been anticipated by Graham Bell, the founder of the telephone. The revolution has given new meaning to the term mass communication and the possibilities offered by the communication systemsPerhaps the most widely used conduit for communication these days is the mobile phone. It is needless to say that the advancement in communication technology has been crucial in the parallel progress and expansion of the global knowledge base and the pace of acquisition of further knowledge (Burns & Bush, 2000). And academic research being one of the main routes to progress in the understanding of human beings has been affected positively by the growth of the communication systems. For instance handling the data accumulated in any research process has become much easier thanks to the facility of software databases for storage of research data (Janssens, 2008). Data in this form is available for tran sport virtually without limitations of time for sending or the location of the sender and receiver. However the incorporation of technology into research methodologies is yet to take a form and most of the research procedures involve techniques that are indifferent to the use of technology. For example a lot of primary research is still conducted with data collectors going to the subjects of the research to collect the data and the communication facilities play a trivial role in facilitating the process (Malhotra & Birks, 2007). Hence research over mobile phones and similar communication devices is also not viable in most fields of research and because of many research limitations and requirements. The Benefits of Mobile Access in Research However the leading business organizations of the world are working on devising methods of capitalizing on the potential of market research insight provided by the prospective use of mobile networks for outreach to the subjects of the market resea rch. The main advantages that the ubiquity, spread and incidence of mobile phone usage provide are the speed with which market research can be conducted, the delimitation of the timing restriction for conductance of research, the ability of capturing the opinions and other data of research at any particular time (for instance, reactions of a group of people can be captured using mobile technology immediately after an event), the ease of carrying out the research, the lack of restrictions of the location of the human subjects of the research or that of the researcher, and the possibility of both lateral and vertical research incorporating all the aforementioned advantages, i-e the ease of investigating the state of one factor over many different time instances and that of recording the state of a factor at any instance over many different locations. It has already been proven that the dimension of research corporations far longed for; the study of ‘pulse impact’ or the i mmediate short-lived effects of corporate tactics and decisions can be studied using the mobile research facility (Taylor, 2000). Hence a company might be able to study the causes and patterns of disinterest or interest among consumers for a newly launched product emanating from the first impression of the product. The possibility of research over the internet, which is one of the major forms of mobile market research and probably the main form of market research of the future, also addresses the vital facet of researching of creating interest for the participant in the research. With all the attractions that are available for use on the digital platform, the researcher can approach more people for the research using fewer resources than are required for conventional researching. In one informal study cited by N. Bradley (2010) in his

Consequences of High Incarceration Rate Term Paper - 1

Consequences of High Incarceration Rate - Term Paper Example Research addressing the impact of parental incarceration on children has identified developmental, emotional, psychological, social, educational, and behavioral consequences for these children (Trice & Brewster, 2004). There is some consensus in the literature identifying some of the serious, detrimental consequences for children of all ages who experience parental incarceration. These issues must be identified and addressed as children of incarcerated parents are viewed as a unique, group with special service needs. The Bureau of Justice Statistics in an August 2000 special report identified a total of 1,284,894 prisoners of which, 721,500 were parents. Within this group of incarcerated parents, 46% resided with at least one minor child at the time of incarceration (Mumola, 2001). Of this group of parents incarcerated, 32% reported having more than one child less than 18 years of age (Mumola, 2001) and 37% reported living with their children in the month previous to their arrest (Mu mola, 2001). In the same year, 2.1 percent of the 72 million minors in the United States in 1999 had a parent in prison, which represents almost 1.5 million children (Harrison & Beck, 2006). Fathers were less likely to report living with their children prior to incarceration than mother, (47% federal inmates versus 73%). Of fathers imprisoned in 1999, reported the childs mother was their primary caregiver 90% of the time where as only 28% of incarcerated mothers cited their childs father as the primary caretaker (Mumola, 2001).

CHEM 121 pre-lab Speech or Presentation Example | Topics and Well Written Essays - 500 words

CHEM 121 pre-lab - Speech or Presentation Example (Hints: volume = area x thickness. 1 mL = 1 cm3) Express your answer in cm2 and in miles2. 7. Let’s assume that your secondary education has led you to rob armored cars. In your latest heist, if you were faced with bags of coins that weighed the same, which bag would you take: pennies, nickels, dimes, or quarters? Which bag contains more money? Important data: a penny weighs 3.09 g, a nickel weighs 4.88 g, a dime weighs 2.25 g, and a quarter weighs 5.68 g. (Naturally, show your work for full credit.) Hint: calculate the monetary density of each coin. Clearly monetary density of dimes is the highest and therefore, I would take the bag containing dimes as it contains more money. However, if I can afford to take one more bag I will not like to leave the quarters bag as well. 8. What would be the effect on your calculated value of the density of water if there was an air bubble in the pipet when you transferred the water into the empty vial? Would the value be higher or lower or would there be no change? Explain your answer If there was an air bubble in the pipet while transferring the water in the vial for density measurement, the measured value of density will be lower than the actual value as the volume has been measured on higher side erroneously due to entrapped air bubble. 9. What would be the effect on your calculated value of the density of water if â€Å"empty† vial had not been completely dried before weighing? Would the value be higher or lower or would there be no change? Explain your answer The measured value of density of water will not be affected in this case as the mass of empty vial is deducted to calculate the mass of the measured volume of water. Therefore, whether the vial was completely dry or not will not affect the

Institutional Realities Research Paper Example | Topics and Well Written Essays - 3750 words

Institutional Realities - Research Paper Example Specific Problem in the Acute Long Term Organization. This will look at research and theories that look at the acute long term organization. This will form a basis of the problems which need to be solved with the current strategic project. Specific Problems Defined. This section describes the specific problem in RHC as well as how this relates to various aspects that need to change within the organization. Strategic Planning Issue. This will look at the one issue that will be examined in terms of RHC and how this will be formulated for continuous planning and change within the organization. Theory of Constraint. Looks at the main problem associated with RHC in terms of the theory of constraint. Process Analysis Theory. This is the second theory which applies to the problems of RHC. Application of Strategic Planning. Looks at the mission, vision, plan and implementation of the strategy while defining ways to approach the main issues. Strategy of Continuous Organizational Improvement. Examines the ways to continuously approve with the implementation of the new strategy and expectations. References. List of resources used for this project. Annotated Bibliography Bryson, John. (2004). Strategic Planning for Public and Nonprofit Organizations UK: John Wiley and Sons. This book describes the strategic change cycle as well as how this is incorporated into non –profits and care systems. Not following this cycle is the main problem of the health care system, specifically because there is the need to respond to trends and to look at the situations that are a part of the culture and the community. Carr, Deborah, Dmitry Khodyakov. (2007). â€Å"End – of – Life Health Care Planning Among Young Old Adults: An Assessment of Psychosocial Influences.† Journals of Gerontology 62 (2). This article is used to examine the different approaches which are looked at in the long term acute care system. It can be seen that psychosocial influences create a spec ific impression about the care which is offered and creates gaps with the market and the desire to be a part of the main care system. This is one of the concepts which RHC needs to look at with the re-engineering of their program, specifically to change the quality care offered. Coleman, EA, C Parry, S Chalmers. (2006). â€Å"The Care Transitions Intervention.† Archives of Internal Care 57 (1). This article is used to describe the way in which care systems need to look at staff and employment training. It shows that a main gap that is associated with the care system is based on the misunderstandings that are a part of the care transition that occurs. Employees are expected to begin understanding the need to intervene and change the approach which is taken toward the long term care. Eskildesen, Manuel. (2007). â€Å"Long – Term Acute Care: A Review of the Literature.† Journal of American Geriatrics Society 55 (5). The article that is reviewed looks at the general issues of long – term acute care and how many are influenced by the specific needs that are in the facilities. Looking at the review of literature helps to define the issues ranging from cost control to the associations that are a part of the acute care. Ford, JD, AD Amelio. (2008). â€Å"Resistance to Change: The Rest of the Story.† Journal of Management 72 (3). This article is used to explain the difficulties with change and change management. The article will be used to

See Order Instructions below Essay Example | Topics and Well Written Essays - 2250 words

See Order Instructions below - Essay Example Discuss the Australian Nursing and Midwifery Council’s (ANMC) National Competency Standards for the Registered Nurse and the ANMC Codes of Ethics and Professional Conduct (see www.anmc.org.au to access documents) as they shape the registered nurse role and as they contribute to your understanding of your preparation as a registered nurse. Use the ANMC National Competency Standards for the Registered Nurse as well as the ANMC Codes of Ethics and Professional Conduct as an underpinning to describe and evaluate your preparation for registered nursing clinical practice. This requires that you crystallise, reflect upon and document aspects of your professional development. You will do this through your reflections on both successful and less successful instances from your own learning and clinical practice. Your reflection should be informed by the available literature and integrate any and evidence of your claims from assessments and specific relevant, learning experiences or incidents.