Wednesday, December 4, 2019
Question: Discuss about the Sustainability Accounting and Accountability Theory. Answer: Introduction: Accounting Researchers had shown great interest from where politics affects accounting standard-setting process (Pratt 2013). This means casual observation of the standard-setting process suggesting politics and regulatory activities affects setting of accounting standards. In other words, Researchers majorly develops as well as test given economic-based theories of standard setting for capturing the political factors. The main goal relies upon synthesizing empirical research mainly in politics of standard setting at FASB (Financial Accounting Standards Board). This aims at clearly understanding the politics of standard setting for researching on the progress level as far as possible (Dillard and Vinnari 2016). Challenges It has been noticed that there is no one model that aims at fully capturing the complex economic as well as political nature of accounting standard setting. This reveals models provides necessary framework especially for empirical work (Deegan 2013). Researchers faces danger in over fitting the data by interpreting given empirical work for consistent favored model. There are various challenges viewed in relation with fitting the theory as well as empirical work. There is generally good deal of evidence showing the effect of politics especially on standard setting. It reveals considering number of examples both in US as well as on international basis as directly affected by given standard setting outcomes (Bebbington, Unerman and O'Dwyer 2014). These examples make it clear for the politics as playing major role in standard setting. These challenges help in providing larger sample as observed in IAS 39. Risks There have been considerate discussions regarding the proposed new accounting rules for leases. This means at the risk of over-simplification, it considers the current FASB or IASB proposal for capitalizing the lease transactions involving operating leases depicted in the balance sheet. It help neutral observers for bringing improvement in accounting as in case of economic substance in many leases for specified period for asset purchase financed by debt (Pratt 2013). Several efforts have been undertaken for eliminating the alternative accounting treatments for given transaction class. For instance, if an individual believes managers takes consideration regarding the accounting choices for signaling private information, it eliminates with the ability from reporting transactions for reducing informational values. Issues Agenda of standard setters considers as one of the crucial determinant of accounting standards for checking on the accounting issues inclusive of standard setters. In other words, there are some of the controversial accounting issues as addressed by FASB in case of oil and gas accounting. In this case, it was effectively added by FASB agenda in understanding the full cost method accounting rules (Dillard and Vinnari 2016). Therefore, one of the methodological issues reveals restricting the samples from accounting firms lobby from the comment letter process. For Instance, general approach reveals lobbying in two major aspects such as including comment letters in respondent with important standard setting issues. There are various findings found from the factors governing political and regulatory attributes such as commonality among the positions (Deegan 2013). There is no strong coalitions in and among the constituents in aligning with varied process for gaining understanding of substantive issues for underlying standard setting process. Reference List Bebbington, J., Unerman, J. and O'Dwyer, B., 2014. Sustainability accounting and accountability. Routledge. Deegan, C., 2013. Financial accounting theory. McGraw-Hill Education Australia. Dillard, J. and Vinnari, E., 2016. A case study of critique: Critical perspectives on critical accounting. Critical Perspectives on Accounting. Pratt, J., 2013. Financial accounting in an economic context. Wiley Global Education.
Thursday, November 28, 2019
THE CIVILIZING MACHINE Gertrude Bonin's "The Civilizing Machine" deals with the issues that arise in the authors life as a young Native American leaving her family and way of life to be educated at a Quaker school in the 1800's. Being a Native American and then being immersed into an European education system that existed to "civilize" her in the ways of the white culture caused much confusion in the author's struggle as a teen to develop a since of who she was, "Even nature seemed to have no place for me. I was neither a wee girl nor a tall one; neither a wild nor a tame one." Other conflicts arise in Gertrudes life that deals with her mother's ability to relate to her daughter's feelings of unhappiness, "She was not capable of comforting her daughter who could read and write." In this essay Gertrude is trying to show the effects of her schooling to be one of a negative nature, which she fails to do. Gertrude while seeming to despise her schooling, "It was inbreed into me to suffer in silence rather than to appeal to the ears of one whose open eyes could not see my pain, I have many times trudged in the day's harness heavy-footed, like a dumb sick brute." Yet she still yearns for the benefits of her education when she wishes to be taken along to her cousins party. Another issue that takes away from her ability to show her schooling to be a negative experience, is that without it how would she have been able to express these feelings about the effects of the way she was educated. While I feel she failed to truly show her education to be all that bad of thing for her to go through, she did an excellent job of showing what emotionally Native Americans had to deal with while their culture was being deprived and another way of life being forced upon them.
Sunday, November 24, 2019
The Causes and Effects of the Homestead Strike The Homestead Strike was a very violent, but important event to the people of the American Business Industry. The violent act of a desperate businessman, in attempt to retain peace, killed many men. The infamous story of the Pinkertons changed the ways of American business agreements. The Homestead Strike changed the traditional American business environment by creating new laws and the awareness of the need for peace in business world.The Carnegie Steel Company was a successful factory, which employed many hundred of workers. Andrew Carnegie, who was the owner of the company, wanted a large successful business, which he had achieved already, but he was always looking for ways to save and make more money. By 1892, unions had been formed (Gardner p. 70). The Amalgamated Association of Iron and Steel Workers, founded in 1876, it quickly became the largest union with some 24,000 workers (Ciment p. 33).Gardner's abadonded churchThe union prevented Andrew Carnegie from lowering cost and w ages.By 1900, Carnegie's steel was cheap. Suddenly bridges and skyscrapers were not only possible but also affordable. Steel fed national growth, accelerating the already booming industrial area. Steel meant more jobs, national stature, and a higher quality of life for many. For Carnegie's workers, however, cheap steel meant lower wages, less job security, and the end of creative labor. Carnegie's drive for efficiency cost steel workers their unions and control over their own labor.Only 325 of the 3,800 workers of the Carnegie Steel Company were members of the Amalgamated Association of Iron and Steel Workers. The small group of high-paid workers that belonged to the Amalgamated Association of Iron and Steel Workers helped battled the company over wages and rights of workers. They fought over working conditions. One of the worst working conditions of the Carnegie Steel Company...
Thursday, November 21, 2019
Accounts Payable Specialist - Research Paper Example It is essential that an accounts payable specialists are able to match the invoices of the vendors with the payments that must be made. Ã Accounts payable specialist must meet several requirements. He must have at least more than two years work experience in accounts payable. Preferably, he must have taken accounting courses in college and must be proficient in Microsoft Word and Excel. A great plus for an accounts payable specialist is if he is a Certified Public Accountant (CPA). It is important that he is familiar with accounting software to assist him with the performance of his job. His job becomes easier if he uses accounting software. Accounts payable specialist must be an expert mathematician and must be attentive to details (Amico, n.d.). His skills should include being analytical, organized, good at problem-solving and must be motivated. A Ã¢â¬Å"thorough knowledge of applicable accounts payable/general ledger systems and procedures, financial chart of accounts and corporate proceduresÃ¢â¬ are necessary to make an effective accounts payable specialist (Accounting Jobs Today.com, 2012). He must be knowl edgeable of the federal and state accounting regulations and must ensure that the company follows these regulations. He must have excellent written and oral communication skills.
Wednesday, November 20, 2019
Histroy 201 - Essay Example There had been numerous deliberations out of the Convention, among which the final document was derived after a lot of discussions and grueling debates. Pinckney Plan The Pinckney plan was a plan of government introduced by South CarolinaÃ¢â¬â¢s Charles Pinckney on May 29, 1787, the same day on which Randolph initiated the Virginia Plan. As Vile (580) states, Pinckney had not maintained it on any writing and the only evidence was the MadisonÃ¢â¬â¢s notes which were not very reliable. It was all about a treaty among the 13 states. His idea was to hold a house having a member for thousand inhabitants and to elect a Senator for four years and also elect cabinet members. He also suggested for a Federal Judicial Court. PinckneyÃ¢â¬â¢s plan was not opposed but left for the decision of the Committee of Detail. Virginia Plan The Virginia plan was actually formulated even before the convention by the delegates from Virginia, on their meeting to discuss on the MadisonÃ¢â¬â¢s thoughts, notes, and works. Edmund Randolph, the governor of Virginia presented the plan on May 29, 1787, which was also called the Large State Plan. The plans suggested for the establishment of houses of legislature proportionally, making it a Ã¢â¬Ëcontrolling bicameral administrationÃ¢â¬â¢ (Vile, 428). The plan proposed that the upper class would be elected by the lower and the lower would be elected by the people. It also suggested for a judiciary. New Jersey Plan William Paterson, a delegate of the New Jersey proposed the New Jersey Plan, asking for an adjournment to contemplate the Virginia plan. The suggestion to make the legislature houses in proportion would limit the authority of smaller states. Therefore the smaller sates discussed to respond to the Virginian Plan and brought forward the New Jersey Plan, also known as Small State Plan. This plan was entirely against the Virginia Plan, and asked to fix the problems of Articles of Confederation by amendment. According to Vile (583 ), The New Jersey Plan stood for the Congress to be given more powers and to sustain the existing Continental Congress. The plan created an executive branch for a single term and a judiciary for life, appointed by the executives. Finally, any law implemented by Congress would proceed over the state laws. However at the presentation of the plan, it was rejected. HamiltonÃ¢â¬â¢s Plan On the dissatisfaction of the previous plans, the Hamilton Plan otherwise called the British Plan was introduced by Alexander Hamilton, having similarity with the powerful centralized British government. Hamilton came up with the idea of abolish state control and merge the state into a single nation. His plan suggested for the bicameral legislature, the lower house elected for three years by the public and the upper class elected for life bye the lower class. The national governing body enjoys the Ã¢â¬Å"veto power over any state administrationÃ¢â¬ ; it also proposed a Governor being elected by the el ectors and holds the office for a life-term service (Vile, 583). Slavery and Connecticut Compromise The most debated issue among the delegates was slavery. The regulation of slavery was a question of controversy between the South and North, as 40 percent of the population of South was slaves.
Sunday, November 17, 2019
Play Therapy for Children with Sensory Processing Disorder(SPD) - Essay Example tional senses, the touch,Ã hearing, taste, sight and smell; as well as two additional senses, the vestibular and the proprioceptive senses, which tell us what position our body is in (Ayres, 25th edition, page 38). Carol Stock has defined this condition as "inefficient neurological processing of information received through the senses, causing problems with learning, development, and behavior"(The Out-of Ã¢â¬âSync Child, 1998). Other common terminologies used for this condition are Sensory Processing Disorder (SPD), Dysfunction of Sensory Integration (DSI) and Sensory IntegrativeÃ Disorder (SID). The term Sensory Integration Dysfunction, was coined by Dr. A. Jean Ayres, a researcher and pioneer in the field of occupational therapy (Miller, Sensory Processing Disorder Foundation). Sensory systems are means of perceiving the external world. They are essential for maintaining arousal, forming body image and regulating movement. Sensory inputs are necessary for brain function and contribute to development. Thus, those children in whom sensory inputs are not integrated or processed normally, experience real-life situations in a different manner when compared to normal children (Ayres, 25th edition, pages 13-22) . Many children with SPD have normal intelligence (Ã¢â¬Å"How is SPD treated?Ã¢â¬ , Sensory Processing Disorder Foundation), but the way they perceive sensory information is different from the normal children. This does not mean they are blind or deaf. The blind and deaf children do not perceive the specific senses at all. There is defect in the visual or auditory pathways. Whereas, in a child with SPD, these pathways are normal, the perception is also present, but the perception is abnormal. The children are either hyposensitive or hypersensitive to outside stimuli. For example, a child who is hyposensitive to touch will constantly be crashing into things seeking extra stimulation, while a hypersensitive child will avoid being touched or will not touching things when
Friday, November 15, 2019
how climate change affects MISC Berhad The aim of this report is to identify the effects of climate change towards MISC Berhad. MISC berhad is a company renowned for its shipping services throughout the world. As one of the biggest firms in Malaysia, MISC has a reputation to maintain as not only as one of the longest shipping companies established, but also one of the largest shipping company in the world. Without a doubt, climate is a crucial issue in the present and also the upcoming future. Due to the effects of climate change, mankind itself is at risk to hazardous and even fatal threats. The world has come united to find ways to reduce emissions of developed or developing countries to the minimal as possible, like in the Copenhagen Summit. None the less, Malaysia took minor but meaningful steps like the no plastic bag days in selected states in the country. The four bottom lines were used to evaluate the performance of MISC Berhad. To counter the ever changing needs, MISC Berhad implements economic and financial bottom line, social, environmental and corporate governance bottom line to fill the needs and ensure its survival in the industry. Through group brainstorming, it would be assumed that MISC Berhad would be affected by climate change in various aspects. Pressure from external forces, a decrease in total sales, delay of shipping time, the well-being of employees on board the ship and an increment in cost are problems the company would face through climate change. The problems would be ranked through K.T. Situational Appraisal which would in turn result in knowing the main problem, which in this case is the pressure from external forces. The the duncker diagram, KT Problem Analysis and Decision Analysis was then prepared in accordance to the main problem. As the climate differs from time to time, MISC Berhad would need to prepare itself for the threats faced and ensure that problems would be of minimal impact to the company. MISC Berhad would need to eradicate the pressure from external forces to keep a good reputation in hand. The company would report its status to the stakeholders on a timely basis and make necessary amendments to the company to further enhance its performance. The company should also practice environmental friendly activities within the company and not only reduce its carbon footprint of its operations.The report also further discusses some solutions to the main problem face by MISC berhad, where MISC Berhad should negotiate with the WWF and other environmentalist organizations to reach an applicable and practical solution to the carbon footprint left by the company to mother earth. Table of Contents Topic Introduction 1.1 Bottom lines a. Economic and Financial b. Social c. Environmental d. Corporate Governance Background Issues Problem Statement and Ranking Selection Solutions Rationale Recommendation Conclusion References Appendices 1.0 Introduction The idea of this report is to study how climate change is impacting on MISC Berhad and how MISC Berhad is responding to the changes. MISC Berhad was integrated in 1968 as Malaysia International Shipping Corporation Berhad and is the top international shipping line of Malaysia (MISC Berhad 2010. It is currently the third largest shipping corporation in the world by market capitalization (MISC Berhad 2010). From being merely a shipping line in 1968, MISC has become a fully integrated maritime, offshore floating solutions, heavy engineering and logistics services provider (MISC Berhad 2010). Now, with a modern and well-diversified task force, MISC provides steadfast, safe, well-organized and competitive shipping services both locally and internationally. MISCs vision is to be a global champion in the provision of logistics services and supply chain solutions (2004 MISC Integrated Logistics Sdn Bhd). In addition, its goal is to entirely service its customers global oil transport requirem ents. Lately climate change has taken a first-time turn in the recent past. Global warming has caused climate change due to the increase of average earth temperature in accordance of what is known as the greenhouse effect. As the greenhouse gases accumulate in the atmosphere the Earth gets hotter (Young People Trust for the Environment). In addition to that, Televisions, lights and computers use electricity that is created mainly from burning coal. Every time we switch on a light we are adding to the greenhouse effect (Young People Trust for the Environment). Due to the climate change, protecting the environment in which the ships operate is vital. The company are conducting tests for use of a new hull coating system to reduce emissions that will pollute the environment (Impressions of AET 2009). Oil spill training was organised to aware them of the oil spill awareness. 1.1 Bottom Line a. Economic and Financial MISC berhad reports its companys cash flow and financial statuses through a series of statements which are available in the annual report. The company recorded an operating profit of RM1, 914.4 million from RM2, 585.7 from year of 2008. Data shows that the company suffered a reduction in profit of RM671.3 million which is equivalent to 26% against the profit of year 2008. MISC berhad reports that this loss was mainly caused by the loss in the Integrated Linear Logistics segment (MISC Annual Report 2009). MISC would be affected economically and financially by climate change as MISC is a shipping company and serious weather alterations would greatly impact on shipping schedule and arrival of shipments. Customers of MISC would be in risk of having important deliveries arriving on a delayed period where not only would MISC suffer a loss of profit, but also the customer would be losing valuable resources which are in need. Consumers of MISC`s services would have unsatisfactorily deny usage of the company`s service as due to climate change, consumers would rather use companies of nearer distance or even opt to pay more for on time deliveries. MISC might lose credible customers and thus be reduced of profit to the company. Knowing the risks involved in the climate changes occurring, MISC can opt for the transporting vehicles used to be upgraded to a faster speed to reduce travelling period. MISC can also consider using eco-friendly upgrading to further ensure reduced problems in the future as the transportation used by the company consumes a high capacity of fuel which will in turn harm the environment. b. Corporate Social Responsibility The social bottom line pays concern on the effects of every action taken by a company towards the society welfare (Elkington 2005). CSR is about the interaction of the corporation with the legal and social obligations of the societies in which it operates, and how it accounts for those obligations (WBCFD 2010). MISC had built the youth development which focuses on education that related to their core business and personal development. Moreover, MISC had built a maritime training academy which is known as Akademi Laut Malaysia (ALAM) to ensure that youth have the skilled and competent personnel as well as to stay on course towards becoming a leading maritime nation. Furthermore, MISC also provided sponsorship for students to further their education for both locally or overseas. Consequently, MISC are also caring for their corporate citizen as to create avenue for their personnel. c. Environmental d. Corporate Governance The Board of Directors of MISC Berhad is devoted in ensuring the highest standards of corporate governance are practise throughout the MISC Berhad Group (MISC Berhad Annual Report 2009). The Board fully supports the principles of Corporate Governance as laid down in the Malaysian Code of Corporate Governance. Corporate Governance is the key to achieve competent and high quality shipping operations that delivers quality to customers and stakeholders (MISC Berhad Annual Report 2009). The Board of Directors of public listed companies are required to maintain a sound system of internal control to safeguard shareholders investment and the Groups assets (MISC Berhad Annual Report 2009). Additionally, the company is coping with low global demand and reductions in trade volume (MISC Berhad Annual Report 2009). They will find out new value-added services and realign its business strategies in the non-energy section to improve its position in the coming year (Impressions of AET 2009). The business keeps its shareholders and other stakeholders informed of its decision making process by defining risk parameters and standards guided by the corporate objective (Impressions of AET 2009). This is to maximise long term shareholders value at the same time as meeting the needs of the customers, employees and all related stakeholders. 2.0 Background Issues The main issue discuss by our group is the pressure from the external force followed by less profit generated due to decrease in sales and shipping time delayed. The green organizations are established to give limits and encourage companies to reduce their emissions that can harm the environment. Thus, this is one of the pressures from the external force that can be able to influence the customers perspectives. For example, WWF will notify the company to reduce shipping activities due to the emission of CO2 and if no action is taken, the company would face serious hardship. As the world is working towards saving the environment, there will fewer purchases on petroleum, coal that will harm the environment. If certain companies would want to save the environment and prevent less of climate change that drastic, this will affect MISCs sales too. This will cause a fall in the number of sales. Thirdly, the shipping time to reach its destination might be delayed. The melting of polar ice causes sea level rises which makes more difficult for the ship to harbor. The company might want to be prepared for the extreme and highly variable environmental conditions, principally in the Southern Ocean, for example (Impacts of Climate Change on the Maritime Industry Conference 2008). 3.0 Problem Statement Ranking Solution According to the K.T situational appraisal (Appendix 1), it ranks the problem by their importance (Fogler LeBlanc 2008). In this case, the top ranked issue of climate change that affect MISC is the pressure from external force such as WWF and IMO. According to WWF Malaysia (2010), they recognises that the role of Business and Industry (BI) as catalysts to reduce the CO2 emission and may at best become part of the solution to CO2 reduction. Therefore, this will directly affected the MISC as WWF aims to engage with BI in working towards changing practices as a solution to climate change. For IMO (2009), work on prevention of air pollution and control of greenhouse gas emissions from ship engaged in international trade is their main objective. Secondly, the issue for MISC would be the sales decreased. This is due to the production of petroleum and chemical is the cause of climate changed, thus it will force to reduce the production and directly affected the sales of MISC. Moreover, the third ranked problem is the shipping time delayed as the sea level had increase due to the ice melting in the North Pole lead vessel difficult to anchor safely. The forth ranked issue is the safety of employees as the natural disaster could cause in danger situation during shipping time. Lastly, the fifth ranked problem for MISC is the cost increased as they need to build more advances mechanism for their ships that has clean emission. K.T. Problem Analysis (Appendix 2) is one of the most useful tools in troubleshooting an operation (Fogler LeBlanc 2008). The major problem is the pressure from external force but is not from the internal force. The distinction is the WWF put pressure on MISC as the emission from shipping caused air pollution which is the WWFs concern. The problem occurred globally but not only happened in Malaysia. The reason is the emission of CO2 is not confined by territorial borders but in the atmosphere. The problem occurs when shipping activities are operating on the ocean but not anchor on the harbour. However, shipping activities is the main business for MISC. The extent of the problem is the related to the business field which produce CO2 lead global warming but not the business field that doesnt affect the climate change. The distinction is able to track and control the amount of CO2 that emitted. From the Duncker diagram (Appendix 3), the top problem for MISC is the pressure from external forces. If okay to solve the problem, the solution would be the try to fulfil WWFs concern by reducing the shipping activities. Besides that, it can negotiate with the external force which is to make agreement with the IMO or WWF. Moreover, MISC can change the major transportation from shipping to submarine or airplane. On the other hand, if it is not okay to solve the problem, the solution can be increase the corporate social responsibility by sponsoring for environmental campaign. Furthermore, it also can try to fulfil other stakeholders by providing better service for customers. 4.0 Solutions As the main issues is the pressure from the external force, less profit generated due to decrease in sales and shipping time delayed. The suggested solutions to encounter the pressure from the external force would be trying to fulfill WWFs concern by reducing shipping activities or negotiate with WWF to come out with an agreement. In addition, upgrading the tanker that can reduce the emissions of gas will be another suggested ways. On top of that, to maintain the profit, the company would have to lower the price of the petroleum as it would be less expensive compared to an alternative ways that is less harmful to the environment. Lastly, the company would have to upgrade the tanker engine and set up branch companies in overseas land. This mean they would have the storage there and then, so whenever there is orders nearby it could be deliver as soon as possible. 5.0 Rational Recommendation After deliberation and a further understanding of the company`s needs, our group would recommend MISC Berhad to negotiate and reach a consensus with the IMO. Besides that, MISC Berhad should also put its involvement in caring for the environment as one of its major priorities. Our group also recommends the shipping company to place a larger sum of its revenue into research to reduce the current level of emissions given out by the company`s operations. These steps would aid MISC berhad to have peaceful and good remarks from multiple major environmentalist organizations as the company has taken a huge leap into achieving an eco-friendly company. It would build a reputable name for the company and it would also be seen as a pioneer of shipping companies which took the first steps into reaching an environmental goal. 6.0 Conclusion