Literacy Project- Emergent Reading Research Paper

Literacy Project- Emergent Reading - Research Paper Example This is then able to lead into awareness of phonetics, language, print and words. The four blocks not only works with the four levels to reading and writing, but also implements directions that ensure each child is able to work to discover new areas of language while progressing through kindergarten through the third grade. This ensures that each child has a strong basis for recognizing, understanding and writing what is needed for the language learning (Sigmon, 1997). The main component that is a part of the four blocks plan is based on the struggles which children often have when going through the first stages of reading and writing. The force that is taken to read and write is one of the components that are associated with this, specifically which doesn’t allow different styles of thought processes to be implemented. This has led to the initial stage of learning which is to create a desire for each of the children to learn and be a part of the instruction. The rest of the g uide is based on combining each of the necessary steps for reading and writing, specifically so each child has the capability of creating a different approach to early literacy. These combined efforts are then able to guide students into a holistic approach to learning how to read and write (Sigmon, 1997). Part 1.2 Differing Stages of Literacy Development The differing stages of literacy development are devoted to an understanding of the behaviors and cognitive development which a child goes through. Each stage of learning has to coincide with the development of cognition that is approached by each child as well as how these change with the skills created. The literacy development is conducive of the development of oral language, writing and reading. It is known that there are two stages to the development. The first is based on the age of students, specifically which changes the capabilities to understand the cognitive associations with reading and writing as well as the value whic h this carries. The second is based on the learning styles and diverse concepts, specifically which is associated with Gardner’s eight learning styles. According to constructivist principles, the age and the cognitive diversity need to coincide to assist with literacy development. With the constructivist ideologies, there is a sense of engaging children in the concept of learning how to read and write and tapping into different developmental aspects based on cognition to assist children with the learning required (Many, 2001). Part 1.3: Effective Reading Instruction for Learners from Different Cultural and Linguistic Backgrounds A challenge which is currently in the educational system is based on cultural and linguistic backgrounds which differ. Diverse regions which children come from to English as a second language have developed as a prime subject among educators, specifically because reading, writing and speaking levels differ among children of the same age and at the sam e cognizant level. A theory which tackles this topic is transculturation, which allows the diverse concepts to be embraced in the classroom. According to this theory, teachers have the capacity of recognizing the diverse backgrounds, noting the differences in how the languages are used grammatically and how this can be a part of the learning for the rest of the class. The transculturation leads to group activities and interaction which compares the cultural and ling

Corporate Social Responsibility and Mass Media Essay

Corporate Social Responsibility and Mass Media - Essay Example The Story of Corporate Social Responsibility (2006), Dunne said that corporate social responsibility has eventually come to mean â€Å"responsiveness†. â€Å"Responsiveness† does not imply any particular action but a range of actions or range of possible responses based on a company’s perception of social or consumer needs and the company’s role in responding either to society’s or the consumers’ needs. Carroll (1999, p. 268) explained that meaning of corporate social responsibility has undergone an evolution from its â€Å"beginning in the 1950s, which marks the modern era of CSR.† Carroll (1999, p. 268) pointed out that the â€Å"alternative themes† in corporate social responsibility â€Å"included corporate social performance (CSP), stakeholder theory, and business ethics theory.† Against the Dunne (2007) viewpoint, the Carroll (1999, p. 268) viewpoint is that corporate social responsibility is â€Å"a core construct that yields to or is transformed into alternative thematic frameworks.† On investigating whether corporate social responsibility adds to financial return, Cardebat & Sirven (2010) concluded that the results of their study do not provide evidence that the adoption of corporate social responsibility improves corporate financial performance. Cardebat & Sirven (2010) used statistical and econometric methods in testing hypotheses on the role of corporate social responsibility on company financial performance. On the other hand, the work of Ali et al. (2010) indicated that the practice of social responsibility may or may not promote the retention of consumer. Based on the study, it can nevertheless be argued however that the practice of corporate social responsibility can promote the retention of the customer base. In my study, I have chosen two cases: the case of the Aviva plc and the case of Thames Water Company. For reasons that will be explained later, Aviva appears to be a lead ing example of a company based in the United Kingdom that espouse corporate social responsibility consistently and diligently for the last several years and has gained additional prominence for the espousal as well as practice of that responsibility. Aviva claims to have â€Å"300 years of insights† which can be interpreted as having 300 years of engagement in the same or similar business (2011). Alternatively, the company â€Å"300 years of insights† is also described as â€Å"300 years of heritage† (2011). In contrast, Thames Water, a water company appears to have experienced a period in which its public image was at its worst. Lately, however, data are suggesting that Thames Water has invested in corporate social responsibility and may be profiting today in the said investment. Nevertheless, it appears that there are still avenues through which Thames Water’s practice of corporate social responsibility can be improved and which the company can exploit for greater profitability. II. Case 1: Aviva plc Aviva claims to the â€Å"world’s sixth largest insurance group and the biggest in the UK, with 36,100 serving around 44.5 million

The Way in Which Wordsworth Presents Emotion in Strange Fits of Passion Essay Example for Free

The Way in Which Wordsworth Presents Emotion in Strange Fits of Passion Essay Emotion is a central theme in ‘Strange fits of passion’; even in the title we have â€Å"Passion†, shown in the Poet’s feelings for Lucy and in the sudden (seemingly unfounded) idea that â€Å"Lucy should be dead† Overseeing the whole scene we also have the moon, used by Wordsworth to counterpoint the Poet’s Journey to â€Å"Lucy’s cot†. As he draws closer to the cottage the moon descends until suddenly â€Å"the planet dropped† which in turn causes the Poet to have a startling thought exclaiming â€Å"O mercy! † â€Å"If Lucy should be dead! † moving the Poet from a dazed half-sleep to startled alertness, as the feeling of dread overwhelms him. Given the rather jaunty ballad rhyming structure and rather tongue-in-cheek opening stanza, we could assume that the Poet is indulging in slight self-mockery at this notion, seen as ridiculous in hindsight. Or given some of the other imagery used, such as the moon’s slow decline—which given its romantic connotations could symbolize the decline and end of the Poet’s relationship with Lucy—and the analogy to a â€Å"rose in June†, we could assume that the Poet is reflecting on this incident with sadness regarding his memories of Lucy. This idea is further supported by the themes of the other â€Å"Lucy Poems†, namely loss. Poems such as â€Å"Three Years She Grew in Sun and Shower† and She dwelt among the untrodden ways showcase the Joy of the Poet in Lucy’s company and feelings of great sorrow at her demise. While it is unlikely that the women featured in the â€Å"Lucy Poems† are one and the same, it makes no difference to the common feelings expressed throughout the poems. As stated above, the poem is written in the style of a ballad (as indeed all the â€Å"Lucy Poems† are, though none as obviously as â€Å"Strange fits of passion†), using the Common language of the people, as Wordsworth was often wont to do. This enables the reader to have an immediate reaction to the work, generally one of amusement at the â€Å"fond and wayward thoughts† of the Poet which is then gradually turned to a feeling of sorrow at the eventual death as implied in the â€Å"Strange fits of passion† and made plain in the other â€Å"Lucy Poems† and in the omitted last stanza from â€Å"Strange fits of passion† I told her this; her laughter light Is ringing in my ears: And when I think upon that night My eyes are dim with tears This reaction, in a way, shadows the Poet’s emotional response. In fact, it could be argued that there is a similar reaction from the reader to the Poet’s emotional state throughout, at first we are warned that this tale is for â€Å"lover’s ear alone† setting us up for a romantic, if slightly farcical, story. As the Poet sets out to Lucy’s cottage with rapt anticipation, we too anticipate the characteristic â€Å"reveal† of Wordsworth poetry. We at first part in our reactions when the poet draws near the cottage, as the Poet has his sudden revelation; while he is struck by despair and fear we are temped to laugh at his seemingly ludicrous thought. This position is then taken by the Poet himself once he is safely in Lucy’s company but his â€Å"wayward thought† is proven all to shrewd, as reader and Poet both weep at Lucy’s demise.

The Differences Between International Financial Reporting Standards Ifrs And Current U S Gaap Accounting Essay

The Differences Between International Financial Reporting Standards Ifrs And Current U S Gaap Accounting Essay The differences between International Financial Reporting Standards (IFRS) and current U.S. GAAP are numerous. International Financial Reporting Standards (IFRS) are principles-based Standards, Interpretations and the Framework (1989) adopted by the International Accounting Standard Board (IASB). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS was issued between 1973 and 2001 by the Board of the International Accounting Standard Committee (IASC). On 1 April 2001, the new IASB took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and SICs. The IASB has continued to develop standards calling the new standards IFRS. Generally Accepted Accounting Principles (GAAP) is a term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction which are generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statement. U.S. GAAP and IFRS differ in key ways, including their fundamental premise. At the highest level, U.S. GAAP is more of a rules-based system, whereas IFRS is more principles-based. This distinction may prove more difficulty than it initially appears, because most accounting and finance professionals in the U.S. have been schooled in the rules of U.S. GAAP. The overriding lesson from their years of study and work is this: If you have an issue, look it up. Under U.S. GAAP, voluminous guidance attempts to address nearly every conceivable accounting problem that might arise. And if that guidance doesnt exist, it generally is created. On the other hand, IFRS is a far shorter volume of principles-based standards, and consequently requires more judgment than American accountants are accustomed to. Companies involved in the exploration and development of crude oil and natural gas have the option of choosing between two accounting approaches: the successful efforts (SE) method and the full cost (FC) method. These differ in the treatment of specific operating expenses relating to the exploration of new oil and natural gas reserves. The balance sheet includes items that differ between International Financial Reporting Standards and Generally Accepted Accounting Principles will be addressed first. Balance sheet items include assets (inventory, property, plant and equipment), liabilities (accounts payable and other amounts owed) and equity (ownership interest, usually in the form of stock). Inventory is any item available for sale or used in the production of an item that will be sold. In valuing this inventory, GAAP allows for First-In-First-Out, Last-In-First-Out, Moving Average and Weighted Average. These are the four main methods used. IFRS does not allow the LIFO method. In times of increasing prices and costs, inventory profits may result from using and inventory valuation method other than LIFO. These inventory profits result in improved reported earnings, but because the inventory profits are taxed, they reduce a companys net cash flow. Depending on the system used, inventory values, profits and taxes can be affected. To give you some examples, the financial statements of a company using the LIFO approach as opposed to FIFO generally reflect: * Conservation profits, because LIFO buffers the effects of inflation. * Better matching of current costs with current revenue. * Lower liquidity, that is, a lower current ratio. * Lower equity position, that is, a higher debt-to-worth ratio. (Gibson) IFRS takes this one option away. In addition to this, IFRS required that the same formula be applied to all inventory of a similar nature. GAAP allows for different methods to be used. Asset retirement during the production of inventory is accounted for as a cost of the inventory using IFRS rules. Whereas, GAAP allows for it to be added to the carrying amount of the property, plant or equipment used to produce the inventory. With IFRS this cost will stay with the balance sheet. GAAP would move it to depreciation which lowers earnings but increases free cash flow. A write-down of an asset is reducing the book value if it is overstated compared to current market values. If a need arises to reverse a write-down, IFRS allows it and GAAP does not. GAAP does not allow the revaluation of property, plant and equipment. It uses historical cost. IFRS, on the other hand, allows either historical cost or revalued amount (fair value at date of revaluation less subsequent accumulated depreciation and impairment losses). The rules concerning residual value have some differences too. Residual value is the amount you expect to be able to sell a fixed asset for at the end of its useful life. IFRS calculates it as the current net selling price and it may be adjusted upwards or downwards. GAAP calculates it as the discounted present value and it may only be adjusted downward. Next, items such as depreciation and leases will be addressed. Since these items are expenses, they will affect the income statement. Depreciation is an expense that reduces the value of an asset as a result of wear and tear, age or obsolescence. IFRS requires more work when depreciating items. Depreciation of assets with differing patterns must be depreciated separately. This means that each item would have to be accounted for separately. GAAP allows this but it is not required. With GAAP, all the depreciation would be able to be grouped together and listed as a total requiring fewer entries. When capitalizing an asset, GAAP only allows interest. IFRS includes interest, certain ancillary costs and exchange differences that are regarded as an adjustment of interest. Being able to include these costs will increase the value of the asset and provide for more depreciation. Land and building leases is another topic where differences occur. IFRS considers land and building separately and GAAP considers them as a single unit unless land represents more than 25% of the total fair value. A couple of other items worth mentioning are contingent assets and extraordinary items. Contingent assets are assets in which the possibility of an economic benefit depends solely upon future events that cant be controlled by the company. Due to the uncertainty of the future events, these assets are not placed on the balance sheet. However, they can be found in the companys financial statement notes. These assets, which are often simply rights to a future potential claim, are based on past events. An example might be a potential settlement from a lawsuit. The company does not have enough certainty to place the settlement value on the balance sheet, so it can only talk about the potential in the notes. IFRS does not recognize contingent assets, GAAP does. Extraordinary items include the sale of the subsidiary or the payment of a lawsuit. Extraordinary items are a liability that is unusual or infrequent in its occurrence. IFRS prohibits extraordinary items and GAAP allows them. Although rare and infrequent, extraordinary items can be substantial and being able to include them can have an impact on your financial statements. As you may be able to tell, both have their advantages and disadvantages where compared to the other. There are some items in which benefits are drawn from IFRS and others that GAAP provides. There is an ongoing effort to address the differences and come to a consensus. At some point, the two different set of rules may be combined into one universal system. Works Cited Deloitte. IFRS and US GAAP: A Pocket Comparison. July 2008. IASplus.com. Gibson, S.C. LIFO vs FIFO: A Return to the Basics. Oct. 2008. The RMA Journal. Hughes, S.B. and Sander, J.F. A U.S. Managers Guide to Differences Between IFRS and U.S. GAAP. 2007. Management Accounting Quarterly. Kumar, S. Differences Between IFRSs and US GAAP. 26 July 2006. Caclubindia. PriceWaterhouseCoopers. IFRS and US GAAP: Similarities and Differences. Sept 2008. PWC.com. Inventory IFRS information on inventory can be found in IAS 2 and in Chapter 8 of the Wiley IFRS 2010 book. GAAP information on inventory can be found in ASC 330 and in Chapter 9 of the Wiley GAAP 2010 book. GAAP Definition (ASC 330-10-20): The aggregate of those items of tangible personal property that have any of the following characteristics: a.) held for sale in the ordinary course of business; b.) in process of production for such sale; c.) to be currently consumed in the production of goods or services to be available for sale. IFRS Definition (IAS 2): Items that are held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services. GAAP IFRS |Allowable costing methods include FIFO, average cost, and LIFO |Allowable costing methods include FIFO and the weighted-average | | |cost. LIFO costing is prohibited | |Presentation at lower of cost or market required |Presentation at lower of cost or net realizable required | |Only in rare instances (mining of gold, etc.) are presentation |Certain defined situations, including agricultural products, | |at fair value in excess of cost permitted |permit reporting at fair value in excess of actual cost | |Lower of cost or market adjustments cannot be reversed |Lower of cost or market adjustments must be reversed under | | |defined conditions | |Recognition in interim periods of inventory losses from market |Recognition in interim periods of inventory losses from market | |declines that reasonably can be expected to be restored in the |declines that reasonably can be expected to be restored in the | |fiscal year is not required |fiscal year is required | Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale (IAS 2). Presently, there are two sets of accounting standards accepted for international use U.S. GAAP and the International Financial Reporting Standards (IFRS). US GAAP or simply GAAP are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly-traded and privately-held companies, non-profit organizations, and governments. The Financial Accounting Standards Board (FASB) is a private, not-for-profit organization whose primary purpose is to develop GAAP within the United States in the publics interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. On the other hand, the second set of accounting standard is IFRS (International Financial Reporting Standards), which is issued by the International Accounting Standards Board (IASB), based in London. Nearly 100 countries use it or coordinate their financial instruments. These countries or groups of countries include the European Union, Australia, and South Africa. While some countries require all companies to adhere to IFRS, others merely allow it, or try to coordinate its own countrys standards to be similar. The IASB is working toward this goal in a partnership with some of the most influential accounting standard-setters across the globe. The globalization of business and finance has led more than 12,000 companies in more than 100 countries to adopt IFRS. In the United States, the Securities and Exchange Commission (SEC) has been taking steps to set a date to allow U.S. public companies to use IFRS, and perhaps make its adoption mandatory. In fact, on November 14, 2008, the SEC released for public comment a proposed roadmap with a timeline and key milestones for adopting IFRS, beginning in 2014. IFRS website states that the convergence between IFRS and US GAAP brings some benefits. Growing interest in the global acceptance of a single set of robust accounting standards comes from all participants in the capital markets. Many multinational companies and national regulators and users support it because they believe that the use of common standards, in the preparation of public company financial statements, will make it easier to compare the financial results of reporting entities from different countries. They believe it will help investors better understand opportunities. Large public companies with subsidiaries in multiple jurisdictions would be able to use one accounting language company-wide and present their financial statements in the same language as their competitors. Another benefit some believe is that in a truly global economy, financial professionals, including CPAs, will be more mobile, and companies will be able to easily respond to the human capital needs of their subsidiaries around the world. According to aicpa.com, the most important specific differences between IFRS and U.S. GAAP are: à ¢Ã¢â€š ¬Ã‚ ¢ IFRS does not permit Last In, First Out (LIFO) à ¢Ã¢â€š ¬Ã‚ ¢ IFRS uses a single-step method for impairment write-downs rather than the two-step method used in U.S. GAAP, making write-downs more likely à ¢Ã¢â€š ¬Ã‚ ¢ IFRS has a different probability threshold and measurement objective for contingencies à ¢Ã¢â€š ¬Ã‚ ¢ IFRS does not permit debt for which a covenant violation has occurred to be classified as non-current unless a lender waiver is obtained before the balance sheet date Based on my research, I have read from some SEC and AICPA critics and also individuals in favor of the introduction of IFRS in U.S. Most of common critics against the adoption of IFRS focus on similar areas. Remi Forgeas, a CPA states in article published in AICPA website his critics: The usual difference noted between GAAP and IFRS is that the former is rule-based whereas the latter is principle-based. This principle-based concept generates concerns that it will be more difficult for a preparer to defend its position in case of litigation. Another point for discussion is the risk to see the standard setter becoming less independent and/or that the U.S. having less control on their accounting standards. The cost and the duration of the transition are often presented as a major hurdle, especially in this difficult economic environment. The complexity of the transition and then its cost will depend for the most part upon the completion of the convergence. The convergence process is expected be completed in 2011. Assuming the SEC decides on 2015 for the year of transition, changes for companies should be less complex, since both standards will be converged. Finally, the last issue is the human factor: are the preparers, users, auditors à ¢Ã¢â€š ¬Ã‚ ¦ experienced enough in IFRS? There is no doubt that specific training will be required to ensure IFRS are known by various categories of people dealing with IFRS. Focusing on the situation today is probably not the right approach: true there is today a lack in knowledge, but the situation is evolving rapidly. People favoring the introduction of IFRS in the U.S. states that the harmonization of financial reporting around the world will help raise the confidence of investors, generally, in the information they are using to make their decisions and assess their risks. The opposite is perhaps the clearer case. If accounting for the same events and information produces radically different reported numbers, depending on the system of standards that are being used, then it is self-evident that accounting will be increasingly discredited in the eyes of those using the numbers. For those companies with joint listings in both America and another country, there should be substantial savings, particularly in terms of preparation costs. Avoiding the burdensome U.S. GAAP reconciliation statement, required at present, would be a worthwhile prize. The good reasons why convergence with the U.S. should be pursued has been noted. There is, however, a downside to all of this for IFRS many people also believe that U.S. GAAP is the gold standard, and something will be lost with the full acceptance of IFRS. Other disadvantages are as follows: à ¢Ã¢â€š ¬Ã‚ ¢ Extra costs in the preparation of financial statements by all IFRS companies implementing new requirements and restating previously reported numbers. à ¢Ã¢â€š ¬Ã‚ ¢ Changes have to be communicated and understood by all of those involved in preparing the accounts, auditing them and using them. à ¢Ã¢â€š ¬Ã‚ ¢ Translations of the amended standards are required for the many languages in which IFRS are applicable. à ¢Ã¢â€š ¬Ã‚ ¢ The changes have to be approved by the various national endorsement authorities and often incorporated into their legal systems. à ¢Ã¢â€š ¬Ã‚ ¢ Continuous piecemeal changes undermine the reputation of IFRS. Some might justifiably ask why high quality standards need such frequent amendments. WORKS CITED AICPA IFRS Resources ifrs.com December 11, 2010. Web Accounting Standard Codification fasb.org December 11, 2010. Web Epstein, Barry. Nach, Ralph and Bragg, Steven GAAP 2010. New Jersey: Wiley, 2009. Print. United States Accounting Standards vs International Accounting Standards June 21, 2009 Introduction This research project will inform the reader of the difference between the United States accounting standards and International accounting standards. The United States uses the Financial Accounting Standards Board (FASB) to issue financial reporting procedures. The International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB). There are proposals for the United States to adopt the International standards. Financial reporting procedures are debated about the United States using the Generally Accepted Accounting Procedures (GAAP) or following the global procedures. This project will also examine, compare, and contrast this debate. Discussion of Topic In an article by Heidi Tribunella (2009), U.S. GAAP is considered rules based. Rules-based accounting standards, on the other hand, give strict rules that must be adhered to in order to properly account for particular transactions. For example, lease accounting in the United States gives four criteria for determining if a lease is a capital lease. If a lease contains any of the following, then it is considered a capital lease and must be accounted for as such: 1 ) a bargain purchase option; 2) ownership transfers at the end of the lease; 3) minimum lease payments with a present value of at least 90% of the FMV of the asset; or 4) a lease length of at least 75% of the economic life of the asset. This is an example of very specific rules for accounting for leases (Tribunella, 2009). Tribunella (2009) goes on to explain International accounting standards, International Financial Reporting Standards (IFRS) are issued by the International Accounting Standards Board (IASB), which was created in 200l. Previously, the International Accounting Standards Committee (IASC), founded in 1973, issued International Accounting Standards (IAS). When the IASB was created, it adopted the IAS and continued the work of the IASC (Tribunella, 2009). Gary K. Meek and Wayne B. Thomas (2004) explain the influence of the IASB on the global reporting standards including the U.S. GAAP. In 2000, the International Organization of Securities Commissioners (IOSCO), of which the SEC is a member, recommended to member countries that IASC standards be used in cross-border offerings and listings. The enforcement of International Financial Reporting Standards (IFRS) by exchange regulators will be crucial to the eventual acceptance of the IFRS around the worldà ¢Ã¢â€š ¬Ã‚ ¦In October2002, the IASB and the Financial Standards Accounting Board (FASB) issued a memorandum of understanding, which formally stated their commitment to the convergence of IFRS and U.S. GAAP (Meek and Wayne, 2004). Jose Marrero and Thomas Brinker (2007) explain the efforts of the IASB and the FASB to merge their practices. Over the last two decades, research indicates that developing a framework of global accounting standards favors the recognition of culture. Cultural differences will impact a nations final consensus regarding accounting standards. However, after years of discussion, a solution to the dilemma of merging culture or international cultures and accounting standards has yet to be found. Currently, the International Accounting Standards Board (IASB) and the FASB are working on a principle-based framework for global financial reporting standards the cooperation of both the IASB and FASB will yield a uniform body of accounting standards allowing financial and investment advisers to view global investment opportunities on a more level playing fieldà ¢Ã¢â€š ¬Ã‚ ¦ (Marrero and Brinker, 2007). They also point out why certain business owners may not want to follow global practices, Further, business owners are unwilling to abandon their localized business practices to appease the accounting standards imposed on the multinational companies, much less their bookkeeping and financi al reporting standards to the jurisdiction of a U.S.-dominated accounting standard board (Marrero Brinker, 2009). David Bogoslaw (2008) talks about the convergence in further detail, The uproar over fair value accounting practices, which some critics have blamed for the depths of the global financial crisis, threatens to sink a long-sought move by countries around the world toward a single set of international financial reporting standards (IFRS). The U.S. Financial Accounting Standards Board (FASB) has been working with Londons International Accounting Standards Board (IASB) since 2002 toward what accounting professionals call convergence. The Securities Exchange Commission (SEC) is expected to announce its road map for conversion sometime this month, which will probably include early adoption in 2010 for about 110 of the largest U.S. companies with business operations throughout the world. The key difference between U.S. Generally Accepted Accounting Principles (GAAP) and IFRS is that U.S. standards are based on explicit rules while the international standards reliance on principles gives companies more room to use their judgment in deciding how to recognize r evenue and other key metrics. Adoption of IFRS would also probably trigger a big tax hike for U.S. companies, which would no longer be able to use the last-in-first-out [LIFO] inventory accounting method, which doesnt exist under the international standards. The LIFO method assumes that goods purchased most recently are sold first and that the remaining items have been purchased at earlier periods, yielding a lower gross profit during high-inflation periods than the first-in-first-out accounting method (Bogoslaw, 2008). The main debate over switching accounting practices is further explained by Bogoslaw (2008) by stating, The debate over switching to accounting standards based on something less explicit than rules comes down to questions about whether the less explicit standard will provide adequate protection against lawsuits, says James Leisenring, director of technical activities in research at the FASB. You cant understand the debate about gratuitous vs. obligatory guidance (within IFRS) until you understand the litigation system in the U.S., where companies are more concerned about getting sued than in other parts of the world, he says. What its really about is safe harbors. What (IFRS skeptics) really want to know is if I do it in a particular way, am I home free or not? The explicit rules under GAAP may appear to offer safety, but the downside is there are so many of them that the odds of missing one or two are greater, he says. From Leisenrings perspective, the big accounting firms that are drawn to IFRS believe theyll get sued less since it will be harder to point to their mistakes. White agr ees that some companies like the freedom allowed under IFRS to interpret standards to suit their convenience, which undercuts auditors ability to prohibit certain accounting choices (Bogoslaw, 2008). Bogoslaw (2008) explains two sides of the criticism this switch has been receiving. Many are for it, but some are against it. The most strident critics of migration to IFRS argue that the primary goal of the SEC and U.S. Treasury Dept. is attracting capital to U.S. markets, rather than ensuring that the highest quality accounting standards prevail. While attracting more capital to the U.S. is a valid business objective, its not clear we can do that by going to international financial reporting standards, says Ashwinpaul Sondhi, president of A.C. Sondhi Associates in Maplewood, N.J., who has served on CFA Institute committees. Paul Miller, a professor of accounting at the University of Colorado, would prefer to have competing standards, since the only standards all countries would be able to agree on would be very weak ones. He also believes a unified set of standards, rather than being helpful, would stifle much-needed innovation given that most of the existing accounting standards are more than 60 years old (Bogoslaw, 2008). Adam Pieniazek (2007) wrote in a research paper about the comparison and contrast of U.S. GAAP and International Accounting standards, Due to the uncertainty of what the future American accounting standard will be, individuals and organizations in the US, would rather have the FASB pick one of the options and declare that it will stick with it, rather than debate for eons over the positive and negative aspects of the principles and rules based approach. As many prominent countries are already using the International Financial Reporting Standards, the representatives of American accounting must act now to align us with the IFRS; otherwise we face potentially being shut out from the formation process of these standards which will affect all international companies. The FASBs cooperative work with the IASC will result in a true Global GAAP; once the IFRS is aligned with the U.S. GAAP system, the American companies will issue statements according to the IFRS, as the SEC has declared that it will remove the reconciliation requirement once it is satisfied that IFRS are of a sufficient standard. The completion of convergen ce will be a boost to the global economy, and inherently, all underlying economies, as it will standardize the practice of accounting, allowing more work to go into principles and theory research, and increase the pool of available and applicable accountants. No longer will investors have to reconcile financial statements to an accounting style they are familiar with and neither will accountants have to prepare statements differently in various countries (Pieniazek, 2007). Conclusion United States Accounting Standards and International Accounting Standards are two different practices in financial reporting, that come from different bases. These two practices are being worked on to converge and use a Global accounting standard. This convergence is creating much criticism. There are many countries that are currently using the International standards, and many more are starting to join. The FASB and IASC are working together to converge by 2010. This convergence will also make it easier for accounts to prepare financial statements reporting United States and International transactions.

Criminal Sanction Essay -- Criminal Justice, Crime Control Model

Introduction The high level of activity in the criminal justice system and the resultant productivity arise from a range of interconnected beliefs that the implementation of criminal sanctions to offenders is an essential and useful means of holding up the existing moral and political order. That is to say, the criminal sanction can be deemed to be a reinforcer of the moral beliefs and social order. This paper, however, will look at both sides of the application of criminal sanction. ‘Used providently and humanely it is a guarantor of human freedom; used indiscriminately and coercively, it is a threatener.’ (Packer, 1968:366) Professor Packer uses his knowledge and understanding of the nature of criminal sanction largely to show how much it actually does threaten freedom; hence the arguments will revolve around this view. The essay aims to explain Packer’s quote and illustrate instances of criminal sanction as a ‘prime guarantor’ or ‘prime threatener’ of human freedom. The essay then goes to explain the rhetoric and the reality of justice and intends to point out the gap, which exists between the two. As Herbert Packer identified the law in books can be quite obsolete and detached from reality (Packer, 1968). His ideal models, namely due process and crime control, will be the cornerstone of the criminal justice evaluation. However, other models will be introduced and used to assess Packer’s imagery of value choices. In order to truthfully assess the character of justice alongside criminal sanction per se and be able to draw conclusions on how is justice manifested, this paper will succinctly look at several aspects of criminal justice process, including policing, prosecution and court procedures, and outside factors which sha... ... as meaningless. Instead, this model sees crime simply as an occasion for social intervention. The offenders are not regarded as responsible for their acts, but rather as products and in some instances the victims of events beyond their control (King, 1981). According to this perspective, free will and moral responsibility are sheer illusions. Therefore, instead of punishing people for engaging in criminal activities, society should discover ways of meeting their needs by ‘providing them with the requisite human social qualities for them to control their future behaviour and so convert them into law-abiding citizens’ (King 1981:19). This model goes back to the notion of a criminal law without criminal sanctions. It argues against the utilization of criminal sanctions, and considers it not useful in curbing crime, as well as a threatener to those subjected to it.

World War Two Essay -- WWII World War 2 Essays

World War Two On June 18, 1812, President Madison of the United States and Congress declared war on Great Britain. On June 25, the French emperor, Napoleon Bonaparte led his army in Europe across the Nieman River into Russia.(1) Although these two events were thousands of kilometers apart they were directly connected to each other. To some extent, the Americans declared war in protest against measures that were part of Britain's effort to defeat Napoleon with the use of blockades. There are many interesting aspects to the War of 1812, including the fact of why it even happened. Britain and the United States had more reasons to remain friends than to start a war. The intent of this essay is to examine American and British objectives during this war, and despite the Treaty of Ghent, conclude Canadians won the War of 1812. Britain, in their eagerness to starve out France, set up a series of blockades along the European coast.(2) These blockades sought to exclude neutral ships from trading with France and her Allies. The very powerful British Royal Navy would search American vessels, most times within sight of land. British deserters provided England with the excuse it needed to search American ships at sea. Desertions were commonplace in the Royal Navy, harsh treatment and punishments were a way of life to British seamen. In comparison, crews on American merchant vessels enjoyed much better treatment, lots of food, good pay and above all, limited punishment. Royal Navy boarding parties arbitrarily selected deserters who, for their crimes were whipped, strung up by the yardarm or keelhauled.(3) As a bonus, the British impressed, kidnapped would be a better word, the most fit and healthy among the American crews into the Royal Navy, and in most cases seized the cargo. Facing well armed British warships, American merchant ships were powerless to resist and were sometimes captured outright. This treatment of American people and vessels at sea would not go unnoticed by the newly formed colonies of the United States. In his speech to congress June 1,1812 President Madison anger at the British Royal Navy and their tactics on the open seas, was very apparent "Thousands of American citizens under the safeguard of public law and the national flag   Ã‚  Ã‚  Ã‚  Ã‚  have been torn from their country and everything dear to them... Against this crying enormity, which Great Brit... ...ton, Flames Across The Border, p.224-5 43.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.225 44.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.226 45.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.227 46.  Ã‚  Ã‚  Ã‚  Ã‚  Stanley, 1812 Land Operations, p.260 47.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.261 48.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.268 49.  Ã‚  Ã‚  Ã‚  Ã‚  Berton, Flames Across The Border, p.40 50.  Ã‚  Ã‚  Ã‚  Ã‚  Ronald Way, "The Day of Chrysler's Farm,"   Ã‚  Ã‚  Ã‚  Ã‚   Canadian Geographic Journal (June,1961) p.216 51.  Ã‚  Ã‚  Ã‚  Ã‚  Berton, Flames Across The Border, p.283 52.  Ã‚  Ã‚  Ã‚  Ã‚  Stanley, 1812 Land Operations, p.340 53.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.377 54.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.338 55.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.381 56.  Ã‚  Ã‚  Ã‚  Ã‚  Ibid., p.393 57.  Ã‚  Ã‚  Ã‚  Ã‚  Glen Frankfurter, Baneful Domination (Ontario, 1971) p.113-4 58.  Ã‚  Ã‚  Ã‚  Ã‚  Morton, Military History. p.70 59.  Ã‚  Ã‚  Ã‚  Ã‚  Berton, Flames Across The Border. p.405 60.  Ã‚  Ã‚  Ã‚  Ã‚  Richard Gwyn, The 49th Paradox Canada in North America (Toronto, 1985) p.22 61.  Ã‚  Ã‚  Ã‚  Ã‚  Frankfurter, Baneful Domination. p.113-4 62.  Ã‚  Ã‚  Ã‚  Ã‚  Berton, Flames Across The Border. p.22-3 63  Ã‚  Ã‚  Ã‚  Ã‚  C.P. Stacey, "The War of 1812 In Canadian History."   Ã‚  Ã‚  Ã‚  Ã‚   Ontario History (Summer 1958) p.154-5 64.  Ã‚  Ã‚  Ã‚  Ã‚  Arthur Campbell Turner, The Unique Partnership Britain and The United States   Ã‚  Ã‚  Ã‚  Ã‚  (New York, 1971) p.33 65.  Ã‚  Ã‚  Ã‚  Ã‚  Robert Craig Brown and S.F. Wise, Canada Views The United States   Ã‚  Ã‚  Ã‚  Ã‚  (Washington, 1967) p.42

Personal and Imaginative Writing: The Big Splash!

The soft wind whistled its melody in my ears, the sun shone brightly in my face as I skipped towards Bruce Castle Park with my sister Daniella, my brother Marcell and my Daddy. My sister was eleven, my brother was ten and I was seven, so I was the baby at the time. I was so excited to get into the park, I heard loads of screaming and shouting babies, toddlers and children, I saw a long queue at the ice-cream van. All I wanted to do was get into the park and join the fun. My sister, brother and I ran towards the park anticipating, leaving my dad strolling behind. I pushed open the black shiny gate to get into the park and dragged my brother and sister with me. The first thing that caught my eyes was the large swimming pool. There were plenty of children splashing, screaming and shouting in there; they looked like they were really enjoying themselves. I wanted to go and join in. I ran towards the fun, feeling excited. I heard my dad calling, but I ignored her because I wanted to get in the pool, even thought I didn't have my swim suit. My dad called me and told me to go back over to him, I was angry because I was so close to joining in the fun. As I walked towards my dad I kept on looking back at all the children enjoying themselves in the pool. When I got over to my dad he simply told me to take my sister to the pool with me because my brother and him were going to play football. My sister didn't want to play, so I agreed. Once again I made my way over to the pool, it looked so colourful because of all the different coloured swim suits. I told my sister how thrilled I was to go and play in the pool. She was also thrilled but explained to me that we could not get into the pool because we had no swim suits and no change of clothes. I was disappointed but concurred without any choice. We got to the pool and the atmosphere was great: loud, colourful and fun. All of the children were playing together. My sister and I looked at each other, grinned and hopped onto the inner pool edge, rolled up our trouser legs and began to walk around the inner edge of the pool. Other children told us to get in, but we couldn't, so we explained to them why, they were let down but accepted it. They were very nice and friendly children. Daniella and I wanted to dip out feet in so we had to be really careful and dip only put feet in. The water was as cold as ice, and clear like crystals, it felt so good. Daniella and I carried on walking around the inner edge of the pool. We were getting wet because of the children splashing, but that was no worry, because the sun was blazing hot and our clothes would dry in no time. I had a feeling that someone would pull us in or we would fall in, so I was careful with my every step. My dad yelled to us to come over and have some snacks and juice, my sister and I rushed so we could get back to the pool as soon as possible. We hurried back over to the pool as our new friends waited. Daniella and I carried on playing on the inner pool edge, but I began to get bored so I had a fantastic idea. I explained it to my new friends. The game was called bulldog. What you had do was my sister and I had to throw the ball and aim it at the people in the pool. Whoever it hit had to come on our team and help get the people in the pool out, leaving a winner. The game began and we were all enjoying it, Daniella and I were really skilled at getting people out. Round 1 of water bulldog had finished, so we decided to play Round 2. We had to be careful because the inner edge of the pool was socking wet. I aimed the ball at one of my friends in the pool and got him out, so he had to come and join my sister and I. My friend in the pool threw the ball to me but it was a short throw, so I tried to stretch and catch the ball, I felt myself stumble so I grabbed onto Daniella and we both fell into the pool and made a big splash! My sister and I looked at each other and exploded with laughter, it was like a laughing fit, we could not stop laughing. The water was freezing cold, I could feel my goose pimples rising all over my body. I struggled to get out of the pool as my clothes were dripping wet and dragging me back down into the pool. When I finally got out I helped my sister to get out as she was struggling too. We had to go and tell my dad what had happened, neither of us knew if he was going to shout or laugh, so we walked over in suspense. Daniella and I held each others hands tight as we left our footprints behind us. When we got to our dad and brother Marcell they were in stitches before we could tell our story. My sister and I were relieved. Dad asked us what happened so we both took it in turns to explain. They both kept teasing us after we had told them; it didn't bother us because we found it funny too. The sun was still sizzling hot like sausages on the fire, so my sister and I decided to lay down on the bright green grass and try and get our clothes dry. We laid there for approximately thirty minutes but our clothes didn't seem to be drying quick enough, so we told our dad that we were bored and wanted to go home. , so we did. Because out clothes were still wet Daniella had to wear my dad's vest, and I had to wear his t-shirt on the way home. They looked like dresses because they were down to our ankles, but it looked cute. Once again the giggles began, what an excellent end to a great day out.