A Research Paper on IFRS and Its Implications

A Research Paper on IFRS and Its Implications International Financial Reporting Standards (IFRS) is a comprehensive, globally accepted set of accounting standards utilizing a principles-based approach with a greater emphasis on interpretation and application of those principles, aiming at best reflecting the economic substance of transactions. It is a less extensive body of literature than U.S. GAAP with limited industry guidance and lesser detailed application guidance. IFRS requires a much greater exercise of judgement, supported by detailed analysis and documentation. In other words, U.S. GAAP gives us a detailed instruction to the location where we would like to go where us IFRS will just guide us to the destination by showing us the direction. Today, more than 40% of the Global Fortune 500 are using IFRS. Stock exchanges in the 85 countries that require IFRS comprise 35% of the global market capitalization, compared to 25% of the global market capitalization held by U.S. exchanges   [ 1 ]   . IFRS is most likely to bec ome mandatory by beginning of 2014. Why IFRS? The question facing companies is not â€Å"If to adopt IFRS†, it is of â€Å"when and how† to adopt IFRS. With so many companies focused on managing through the economic downturn, few leadership teams are eager for one more big thing to do. Especially when that thing involves something as pervasive as International Financial Reporting Standards (IFRS). But IFRS continues to be adopted by jurisdictions around the world. Taking the organization to IFRS will require managing change in multiple areas: technical accounting and tax, internal controls and processes, management and statutory reporting, technology infrastructure, and organizational issues. They’re all interconnected, which makes things a bit more complicated than imagined. IFRS relies more on general principles than detailed rules and bright lines. This means that the finance people will end up working much more closely with others in the organization to make judgments about accounting based on the underlying economics of transactions. A flurry of operational changes could be triggered by IFRS as well. Companies may have to re-examine contracts and debt agreements, treasury policies, employee benefits, education and training, and communications. Opportunities to centralize statutory accounting functions into shared service centers might also have to be looked at. A revisit of the offshoring, outsourcing, and tax planning decisions might also be required. Principle or Rule Based? At a global symposium held in the month of January where the Peter Wyman, a partner of PwC noticed a sea change in the debate surrounding the adoption of a uniform international accounting standard. The feeling was that IFRS will be adopted across the globe, the issues which were present were only of how it was to be done. There have been primarily been two major approaches to accounting namely rule based and principal based. UK and Europe have a principal based accounting system which allows greater discretion and use of professional judgement. On the other hand, US has been following rule based accounting system which was further strengthened after seeing the light of scandals such as Enron, etc. The major challenge for International Accounting Standards Board (IASB) is to adapt IFRS so that it is agreeable to all the parties involved.

Measures a Business Takes During a Disaster Assignment

Measures a Business Takes During a Disaster - Assignment Example Federal assistance from the fire department and police department came to assist after being contacted together with the locals’ and nearby hospital personnel. A series of actionable items on the plant was given to know the way forward and the business continuity plan that would make certain that the business gets back on its fit once the emergency plans prove to be successful. As the Safety Operations Director, the recommendation I would make to the Chief Executive Officer of the manufacturing plant and warehouse is to appoint a temporary disaster management executive committee which will be involved with the safety of the employees and the company’s data stored in computers as these are the company’s priorities. The steps to be taken when beginning recovery efforts by this committee include (1) ensuring the safety of employees by taking a roll call to account for everyone so that none is left unattended, (2) ensuring the safety of the company’s data in computers by backing them in external hard disks and sending them to personal emails, (3) contacting the families of the injured ones to inform them of the situation, (4) assessing the damaged assets, the ones at risk and the resources left, (5) relocating company tracks and employees to safe locations (6) reducing financial loss and (7) rushing the injured to nearby hospitals for treat ment. All these steps are to be conducted by the disaster management executive committee, chairpersons, coordinators and departments/ branch leaders, drawn from the institution’s available personnel resources that are to provide effective leadership and administration of the institution’s recovery effort, making decisions and giving directions. It is the duty of these people to restore the entire organization’s ability to operate and re-open its components testing and revising the process upon results, resuming and replacing damaged equipment, saving lives, contacting the family of the workers and maintaining law and order for possible looting.  Ã‚  

MANAGING AN EARLY YEARS SETTING Assignment Example | Topics and Well Written Essays - 4000 words

MANAGING AN EARLY YEARS SETTING - Assignment Example roles and responsibilities of the early years’ practitioners are identified and discussed in relation to the leadership and management theory (Bullock & Brownhill 2011.p.201-207). The government, educators, teachers, parents, and other education practitioners in the field of early education and care have over the past years been faced with the question of realization of quality formal education in the early years setting. Therefore, in consideration of these necessity factors, this study has been organized in the context of evaluating two early years setting education scenarios in reference to the leadership and management theory. This is through the search for the understanding of the roles and responsibilities that various practitioners play in relation to the same. The two scenarios are the support for a child who has a significant medical condition and the support for a child who has additional educational needs (Jones & Pound 2008). The successful critique and evaluation of the leadership and management concepts in relation to the early years setting involved the conducting of a wide-ranging research from detailing sources such as electronic databases, government legislations, search engines like Google Scholar and ERIC. In the recent past, there has been an increasing concern for embracing leadership in the management of schools and attainment of the set goals and visions for a particular institution. For effective practice in the early years setting of early education and care, it is important for the practitioners to recognise the link that exists between effective management, development of leadership in early education centers and the success of children in such centers (Jones & Pound 2008). By equipping practitioners in early education sector with requisite knowledge and skills that can be used to lead and manage quality practice in the early education years setting will enable them to develop the capacities of children under their care successfully;

Free Essay: Metamorphosis of Dimmesdale in Nathaniel Hawthornes The Scarlet Letter :: Scarlet Letter essays

The Metamorphosis of Dimmesdale in Scarlet Letter In The Scarlet Letter by Nathaniel Hawthorne, there are many characters that transform; one of them is Reverend Arthur Dimmesdale. Dimmesdale committed a great sin of the puritan society, he slept with another mans wife and Hester Prynne became pregnant. Hester was punished for her sin but Arthur Dimmesdale had not admitted to it, so he lives with this guilt and it is much worst for him because he is a puritan minister. Dimmesdale inflicts punishment upon himself because of his adulterated sin. Dimmesdale transforms throughout the novel always in the same place "The Scaffold." The town is all out to witness the punishment of Hester Prynne some of the women are suggesting other punishments and the women are telling us about Hester and Dimmesdale. People say," said another, "that the Reverend Master Dimmesdale, her godly pastor, takes it very grievously to heart that such a scandal should have come upon his congregation." (Page 49) Reverend Dimmesdale is seen as a godly man. A man who does not commit sin and in his own mind at this point he feels fine and does not have any guilt. Dimmesdale at this point in the novel is seen as godly and throughout the novel is seen as godly even at the end after the last scaffold scene. Consequently enough, Dimmesdale is trying to convince Hester to reveal the man who has sinned along with her , so the man can be relieved of his guilt, some what ironic because he is the man who has sinned along side with her. "What can thy silence do for him, except it tempt him--yea, compel him, as it were--to add hypocrisy to sin? Heaven hath granted thee an open ignominy, that thereby thou mayest work out an open triumph over the evil within thee and the sorrow without. Take heed how thou deniest to him--who, perchance, hath not the courage to grasp it for himself--the bitter, but wholesome, cup that is now presented to thy lips!" (Page 65) This is the first scaffold scene Reverend Arthur Dimmesdale is not showing any signs of guilt at this point, he is still fairly the same and has not began to inflict punishment on himself or so it appears. Dimmesdale in the first scaffold scene seems fairly normal and has not begun to transform himself but by the next time we see him at the scaffold he is taken a turn for the worst.

Energy Society Essay

The Kyoto Protocol The official name of the Protocol is The Kyoto Protocol to the United Nations Framework Convention on Climate Change. It is an agreement by 165 countries for mandatory targets for the reduction of the world’s greenhouse gas emissions. These gases—carbon dioxide, methane, nitrous oxide, and several fluorinated gases are believed to contribute significantly to global warming. The targets of the Protocol are primarily industrialized countries, which are expected to reduce their combined emissions to 95% of 1990 emission levels between 2008 and 2012. The Protocol was agreed on in 1997, although it only took effect in 2005. Between the years 1990 and 2000, the overall emissions of industrialized countries have been reduced by 3%, but largely because of the drastic reduction of emissions from former Soviet countries because of their failing economies. Other industrialized countries overall had an increase of 8% emissions. It is estmated that emissions from industrialized countries will be 10% above 1990 emission levels by the year 2010. For industrialized countries, the emission reduction target of the Kyoto Protocol is only around 5%, and many climate scientists are concerned that this is not enough to curb the effects of global warming. They believe that in order for the agreement to actually help solve the problem, the emission rates would be cut down by 60%. This has led to the opinion that the agreement lacks real value, more so without US backing. However, advocates believe that the Protocol lays out the groundwork for future negotiations. Emission reduction laws were already signed in many countries and would continue to take effect even when the Protocol itself has ceased to exist. â€Å"Happy Kyoto Day† – This site has an unusual approach to the problem of determining the Kyoto protocol’s merit. According to the author, â€Å"In and of itself, the Kyoto treaty won’t solve global warming or avert disastrous climate disruption.† The author states that the protocol is essentially a catalyst. It will put the world in an environmentally aware mindset—even if the Kyoto protocol fails, it will force the world to come up with something better. It will also encourage economic changes that strive towards greater efficiency and sustainability. Lastly, the protocol â€Å"is a symbol, a conscious step in the right direction for the planet. â€Å"Kyoto & global warming: good stuff or part of a dark conspiracy to dominate the world?† – According to this site, â€Å"global warming alarmism† is indeed the â€Å"mother of all environmental scares.† The author states that it is definitely not settled whether human activity has had any significant effect on global warming; global warming is a theory, not a fact. Some effects of the Kyoto protocol would include â€Å"impoverishing the USA and creating intense disaffection within the ranks of the working classes.† Basic necessities would become very expensive. â€Å"Electricity would double in cost, fuel would skyrocket.† Lastly, the author claims that the Kyoto protocol is a political â€Å"device to lead the Social Communists closer to world dominion.† One of the worst effects that global warming could have would be the rise of sea levels, due to the melting of ice caps and to thermal expansion of the world’s waters. A hundred years from now, if the worst global warming predictions come true, millions of people will be displaced from their homes, which will be submerged. This will have drastic economic and cultural impacts. The effects of the mass displacement on the economy could reach far into the future. The loss of farmland, of business districts, etc. may spawn another (much worse) Great Depression in many areas. Forced cultural dispersion will be commonplace, making the ubiquitous problem of the generation gap much more considerable. Many people who would call themselves environmentalists would not necessarily have good knowledge of environmental issues. They may pay lip service to the environmentalist cause without inconveniencing themselves in any respect to protect it. But I would venture to say that a majority of those who call themselves environmentalists would be willing to go out of their way to ‘serve’ the world. However, it is certain that, as in other controversial issues, there would be much hypocrisy. If by ‘environmentalists’ we mean those who are—or claim to be—‘concerned’ about the environment, then certainly most of them would just be claiming belief in the cause, but be too lazy. In them would be an awareness of an ideal—the preservation of the environment—but a lack of initiative, probably because of the lack of any immediate incentives. References    Kyoto Protocol, 2006, Department of the Environment and Heritage, Australian Greenhouse Office, Available at: http://www.greenhouse.gov.au/international/kyoto/index.html The Kyoto Protocol, New Zealand Ministry for the Environment, Available at: http://www. climatechange.govt.nz/about/kyoto.html Cascio, Jamais, 2006, Happy Kyoto Day, Available at: http://www.worldchanging.com/archives/002119.html Kyoto & global warming: good stuff or part of a dark conspiracy to dominate the world?, 2006, Available at: http://uspolitics.tribe.net/thread/e4978f31-0439-4b70-bbf3-f0ce93a09a42 Q&A: The Kyoto Protocol, 2005, BBC News, Available at: http://news.bbc.co.uk/1/hi/sci/tech/ 4269921.stm The Kyoto Protocol – A brief summary, 2006, European Union, Available at: http://ec.europa.eu/ environment/climat/kyoto.htm Kyoto Protocol, 2006, Wikipedia, Wikimedia Foundation, Inc., Available at: http://en.wikipedia. org/w/index.php?title=Kyoto_Protocol&oldid=80236719 Kyoto Protocol comes into force, 2005, BBC News, Available at: http://news.bbc.co.uk/2/hi/ science/nature/4267245.stm

Simple Fermer (to Close) Verb Conjugations in French

In French, the verb  fermer  means to close. To make this infinitive verb more useful and construct complete sentences, we need to conjugate it. This lesson will show you how thats done so you can use it in the form of closed or closing, among other simple verb forms. Conjugating the French Verb  Fermer Among all the French verb conjugations, those that end in -er  are the easiest to conjugate for the simple fact that there are so many of them.  Fermer  is a  regular -ER verb  and it follows the same pattern as  fà ªter  (to celebrate),  donner  (to give), and countless others. It becomes easier with each new verb you learn. Identifying the verb stem is always the first step in conjugations. For  fermer  that is  ferm-. To this, we add a variety of infinitive endings that pair the subject pronoun with the appropriate tense for the sentence. For instance, I am closing is je ferme and we will close is nous fermerons. It will definitely help your  memory if you  practice these in context. Subject Present Future Imperfect je ferme fermerai fermais tu fermes fermeras fermais il ferme fermera fermait nous fermons fermerons fermions vous fermez fermerez fermiez ils ferment fermeront fermaient The Present Participle of  Fermer The  present participle  of fermer  is  fermant. This is formed by adding -ant  to the verb stem. Its an adjective as well as a verb, noun, or gerund. The Past Participle and Passà © Composà © The  passà © composà ©Ã‚  is a common way to express the past tense closed in French. To construct this, begin with the subject pronoun and a conjugation of the  auxiliary verb  avoir, then add the  past participle  fermà ©. For example, I closed is jai fermà © while we closed is nous avons fermà ©. More Simple  Fermer  Conjugations to Learn When the act of closing is in some way questionable, the subjunctive verb form is used. In a similar manner, the conditional verb mood implies that the closing will only happen if something else does as well. You will find the passà © simple in formal writing. Learning both it and the imperfect subjunctive will do wonders for your reading comprehension. Subject Subjunctive Conditional Passà © Simple Imperfect Subjunctive je ferme fermerais fermai fermasse tu fermes fermerais fermas fermasses il ferme fermerait ferma fermà ¢t nous fermions fermerions fermà ¢mes fermassions vous fermiez fermeriez fermà ¢tes fermassiez ils ferment fermeraient fermà ¨rent fermassent In short, direct requests and demands, use the imperative form. When doing so, theres no need to include the subject pronoun: simplify tu ferme down to ferme. Imperative (tu) ferme (nous) fermons (vous) fermez

An Educated Success Theodore Roosevelt - 1673 Words

Jose Vega English 105 Professor Cristin January 1, 2016 An Educated Success Theodore Roosevelt once said, â€Å"A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad.† Abraham Lincoln, Albert Einstein, among many other well educated people, all had a higher education that led them all to be successful. Education in America was founded in the early nineteenth century, thanks in part to Thomas Jefferson. Despite political and religious views, an education system was put into place after the Declaration of Independence was signed. Many of the students that attended school were primarily wealthy, however,  ¬Ã‚ ¬Ã‚ ¬ by 1918, going to a public school became law. Immigrants,†¦show more content†¦In an article from the New York Times called â€Å"Is College worth it? Clearly, New Data Say† by David Leonhardt, the author states â€Å"not so many decades ago, high school was considered the frontier of education. Some people even argued that it was a waste to encourage Americans from humble background to spend four years of life attending high school. Today obviously, the notion that everyone should attend 13 years of school is indisputable† (Leonhardt 4). It was believed that the brain did not grow new cells and that it had limitations. However, those assumptions were incorrect. Current research has shown that the brain grows new nerve cells daily and that the process is sped when students are actively learning. In the article â€Å"Brainology,† by Carol S. Dweck, the author presents research that shows that students that believed their intelligence was something they could develop and increase (growth mindset), had positive attitudes. This in turn allowed them to see education differently from those with a fixed mindset. Students believed that their ability could be increased and that despite hard work and errors, learning was achievable. They were not afraid to fail, because they would rise back up and continue to develop their learning ambience and expand their knowledge at the same time. People with these morals are those that are successful at what they do. They