Managing AIDS Free Essays

Introduction In the situation with Frank Deloisio, a middle manager who had AIDS, Jean Langone Smith had one of the greatest tests of her career. She was encountered a case of the type which so many managers can come across, as one in every 250 Americans has been diagnosed with the plague of the twentieth century, yet the situation is so delicate that few books can help a person in managing position to sort out the ethical issues that relate to it. Managing AIDS: Issues To Confront In a sense, managing a person diagnosed with AIDS is similar to managing any other person who has been diagnosed with a different terminal illness like cancer or tuberculosis in the final stages. We will write a custom essay sample on Managing AIDS or any similar topic only for you Order Now However, AIDS is a special social phenomenon due to the stigma associated with this contagious disease. It has come to symbolize the bohemian lifestyle of the homosexuals and prostitutes, and many people feel that a person is to blame for having incurred such a condition. Besides, despite the medical professionals’ assurances, there are still fears that a person with this condition may infect somebody in the environment, which makes the removal of such a person from the group desirable for some. One more issue that was associated with AIDS in Frank’s case was his frequent absences. He in some ways had to use Jean and others to be able to pay for his disease. The employees at DEC had to put in extra time and carry the extra workload to compensate for his frequent treatments. Besides, people were not even informed about the reason of his absences, and thus had a reason to believe that he was merely using them to take time off work to attend to his personal matters. Utilitarian Perspective If Jean had viewed the happenings from a utilitarian perspective, she would merely be concerned with the consequences of her decisions, and in evaluating those consequences, her primary focus would be the amount of happiness or unhappiness of the people that would result from it. Thus, dismissal of Frank Deloisio seems a plausible option. If he had been fired for his illness, the company would have to replace him with a different person who would most likely be able to handle the responsibilities, devoting more time to them. Then all the employees would be happy, as they would be relieved of their extra responsibility. As for Frank, he would be less important, as his troubles are those of a single person. Deontological Perspective From a deontological view, it is necessary to do what is right regardless of the consequences. The view taken and the practical steps depend on the stance adopted towards what is right or wrong. Thus, if the right thing is standing by the sick person, then the right thing is to help Frank in his predicament, sharing his responsibilities. One could say that a sick person is not able to care for oneself, and thus it is correct from the ethical standpoint to share the benefits available to other people to help the sick one. On the other hand, if one adopts the view that the ultimate good is efficiency, then Frank’s dismissal is a viable option as he is clearly in the way of the company’s success. His replacement with a different person would contribute to the efficient functioning of the company as a whole. Fairness to AIDS-Infected Person Fairness means dealing with people honestly and in accordance with principles. In this sense, the manager’s obligation consists in dealing with employees fairly, without bias or prejudice. Thus, a person suffering from AIDS should be dealt with in the same manner as any other person who is suffering from a serious health disorder. This also means that the manager should induce all the employees to treat the one infected with AIDS in the same manner. Thinking about Rights Maintaining the rights of a person requires the adherence to a certain set of principles. For instance, the sick person has the right to confidentiality, and this is what Jean has been trying to do for Frank. Besides, Frank was also entitled to company’s medical insurance, and the full coverage of the costs associated with his illness. Regarding a case from this perspective involves the maintenance of a number of basic principles, but there is always the danger that something might fall through the cracks. For instance, if the person is not entitled to a change in job responsibilities, this will not be pursued by the manager as it is not part of the sick employee’s specified rights. How Jean Did Jean, although unprepared to deal with a situation like that, lived up to the challenge of solving organizational problems in her department. She was not reached by the AIDS programs to the extent that she could derive her knowledge of what she could do from that source, and thus she was acting based on her own ethical judgement. Jean went far beyond what was necessary according to the formalities at the company. She assisted Frank in adjusting his responsibilities to suit his current health conditions, and even had an idea to coin a new position designed for him where he could emphasize his technical skills, without putting pressure on him that he could not handle. When his health deteriorated, she relaxed his responsibilities even further. This raised her authority with the personnel, allowing people at the company to see that she was ready to go beyond what was prescribed by the rules to accommodate her employees. In a way, her own ethical perspective was changed: if previously she looked at the people as professionals, restricting her relationship with them as a purely business one, now she could show that she was ready to see them as unique individuals that are important not only as cogs in the machine. Perhaps the clear-cut nature of the case that involved helping a sick person helped Jean to make a leap from a strict and formal manager to a life-and-blood personality. If Jean had been confronted with a more ethically ambiguous case like accommodating the frustration of person in the middle of a divorce, she would be more tempted to think along the lines, â€Å"They have to cope with their problems on their own†. Facing a situation of someone hopelessly ill changed her behaviour and views. Conclusion Jean did well as she preserved the rights of a sick person, acted fairly, and was good at maintaining the basic principle of helping a sick person. Jean’s actions were also right from the utilitarian perspective in a sense. Supporting an employee in need helped her to uphold her image in the eyes of others, as well as the image of the company. The employees at DEC were able to draw the conclusion that if they fall ill with AIDS, they can probably expect the same sensitive and insightful treatment. This idea is going to boost their morale in the long run, and increase their loyalty for the company. The case made headlines, which is going to serve as positive publicity for DEC, elevating the corporate image. It is perhaps unfair to suspect Jean of such a motivation being her primary driver, but this serves to show that her actions gain support from both deontological and utilitarian perspective. How to cite Managing AIDS, Essay examples

Mystical Significance of Hebrew Letters free essay sample

Letters, alphabets, and numbers all play a invaluable role in all of society. Whether it is for school, business, or everyday things we can all agree that every character of every culture is important in its own simple way. But what if these characters meant and are used to show something deeper than just the material world. The mystical meanings of the characters in the Kabbalah will be the main topic of discussion in this paper. We will go through brief explanations of all 22. These explanations will consist of a short description of what they mean spiritually and then some normal facts such as what number it is. So first is Alef (× ). Alef is the Hebrew number for one. It symbolizes the water and can be found in the passage where it talks about the first day of creation. Now the way Alef is formed, the top mark is supposed to symbolize closeness with God while the bottom is showing a bitterness of the lowly man. We will write a custom essay sample on Mystical Significance of Hebrew Letters or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Next is the letter Beit which is the number two in Hebrew (ב). Beit refers to the word house, as in God’s house. Much of the mystic letter of the letter refers to God’s House and how we should be honored to enter. Beit can also translate to â€Å"passion† or â€Å"desire†. This can show that we desire or have a passion to live with God in happiness. The third letter Gimel (×’) is the Hebrew letter for three. It also symbolizes a rich man chasing after a poor man in order to give him charity/reward him. In the mystic sense reward and punishment are meant for the same end. But it is interesting because running is the biggest physical expression we have of freedom and choice. The next and fourth letter is Dalet ד)) which is the number four. This letter is essentially reversed from the last one. That is the poor man receives the reward/charity that the rich man offers. Also there is a connection between both dalet and beit, that is that dalet is the door to beit. Very Interesting how these letters interact with one another Next we have the fifth letter Hei ( ×”) which is the number 5, as you can see I am going in order so I will take out this sentence now from now on. Hei’s  character is interesting in that all three lines have a separate meaning. The Top line represents thought, the right vertical line represent speech, and the left like represents actions. Thought being the most important but it is connected to speech which shows they are connected. But at the same time action is not connected so action is separate from thought and speech. The sixth letter is Vav ( ו), this letter is different in that it represent the number fifty. The letter vav shows that the line to create it is meant as a way of differentiating realities. The line is supposed to take on two dimensions, a external and a internal. Part of the creation force is supposedly comes from these two dimensions. The seventh letter is Zayin ( ×â€") which means â€Å"The Woman of Valor†. Unfortunately there isn’t much to discuss here that would be easy to understand. I can’t really pick anything out except that it means the number 7 so ill move onto the next letter. The eighth letter is Chet ( ×â€") which means â€Å"life† in a simplistic sense. Chet symbolizes two levels of life. The first meaning is â€Å"essential life† which is the state in which God is always in. The second meaning is â€Å"Life Enliven† which is the Lord’s creative power. It also is the letter for the number eight. The Ninth letter is tov ( ט) the number nine. But it also symbolizes the mother and nine months in which she carries her child, also the concealed good. While we have many different way to say thing are beautiful, pretty, and attractive. In the Hebrew alphabet tov represents to most modest of all beauty. While it would be fun and interesting to continue to list and explain all the different letters I believe that it would be repetitive and boring. So with that I would like to take some time and just generally discuss the Hebrew alphabet. It is thought that the letters of the Hebrew alphabet, if studied and thought upon, can show signs that point to life improving truths. The 22 consonants of the Hebrew alphabet were also thought to have been the building blocks of the cosmos. So it is pretty easy to how important the alphabet is. In a more mystic sense words are thought to  sustain the universe and help preserve it. As we can see, to the Kabbalah view the alphabet plays a huge role in their divine and mystical aspects. It was interesting and I advise that everyone continues reading the meanings of the letters. I honestly envy the Hebrew alphabet to have so much to learn from just their alphabet. Works Cited http://www.hebrew4christians.com/Grammar/Unit_One/Aleph-Bet/aleph-bet.html http://www.templesanjose.org/JudaismInfo/tradition/Kabbalah/alephbet.pdf

Management Theories and Success in Business

Introduction For any kind of business to be successful, different kinds of management theories must be implemented. In today’s changing business organizations, the major functions of business management need to change as well in order to suit the managerial role. This means that there should be coordination between organization, planning, coordinating and leading roles in any business management set up.Advertising We will write a custom essay sample on Management Theories and Success in Business specifically for you for only $16.05 $11/page Learn More Management theories The first management theory is the scientific management theory which was developed under a classical point of view considering the large industrialized business organizations. This theory focuses on such organizations which manufacture a variety of products repeatedly. Considering the expenses involved in scientific methods and other technical operations as well as the reluctance on the part of the workers, this theory was developed to control these two situations. Firstly, a large organization needs to divide its operations into small sections to ensure that all employees are aware of their duties. Selection and training of competent personnel for all sections is equally required to ensure quality execution of duty. Monitoring of the operations in all sections should then be done effectively for assurance purposes. Consistent practice of these measures should also be ensured (Heller, 2006, p. 1). Another very important management theory is the administrative bureaucratic theory which defines all the principles of management. It emphasizes on division of labor where specific sections of an organization have their qualified personnel to concentrate on them. Since there is specialization in the different fields, production tends to increase. It also identifies the need of authority going hand in hand with responsibility where leaders are required to effective ly carry out their duties besides giving orders. Respect between employees and the management should as well be ensured. For instance, employees should seek approval from their leaders in a wise and disciplined manner and the leaders should as well respect the employees (Sinha, 2010, p. 1). For any organization to be successful and enjoy full profitability, supervision of its operations should be unified such that only one superior gives instructions. This helps prevent corrupt dealings in the organization. Employees working under a certain section of the firm should be unified and work towards achieving a one goal. Additionally, the employees should put the organization’s interests before theirs all the time. Employees are only loyal and dedicated to their work when they are paid well. It is, therefore, the duty of the management team to distribute fair wages to the employees. Consolidation of power within the organization to ensure that maximum returns are received is as we ll very important. Effective communication from the highest authority to the lowest is very essential is promoting success of any organization (McNamara, 2010, p. 1).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another management theory is the contingency theory where decision making should always be based on the situation that the organization is at during that specific time. It basically involves taking actions depending on the situations at hand. The final and very important aspect of any business organization is the systems theory which unifies a whole organization with the aim of achieving a specific goal for the benefit of all those who are involved. The idea of the system theory is to bring together different units, which may be referred to as raw materials, in an organization such as machinery in order to produce quality outputs. Through provision of quality products, the organi zation is able to maintain its customers and markets (Shah, 2010, p. 1). Conclusion The most important aspect of any organization’s success is the consolidation and cooperation between its management and the employees both aiming at achieving a universal goal. Reference List Heller, R. (2006). Management Theories. Web. McNamara, C. (2010). Brief History of Management Theories. Web. Sinha, R. (2010). Management Theories. Web. Shah, K. and Shah, J. P. (2010). Theories of Motivation. Web.Advertising We will write a custom essay sample on Management Theories and Success in Business specifically for you for only $16.05 $11/page Learn More This essay on Management Theories and Success in Business was written and submitted by user Damon P. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

buy custom IFRS Implementation in the US essay

buy custom IFRS Implementation in the US essay IFRS is a set of accounting principles and standards, which are developed by the International Accounting Standards Board (IASB, 2009). It has been applied by over 12,000 companies in more than 120 countries worldwide. It is ever becoming a globally agreed system for the preparation of all financial statements for all public companies worldwide. In the US, US.GAAP is majorly used by companies. Recently, however, the G20 group of leaders had decided for an application of significant direction towards the use of one universally accepted accounting standard. US president Obama also reiterated the fact that it is vital for all nations to adopt a single accounting standard. Therefore, the Stock Exchange Commission is busy designing the road plan or roadmap for propelling USA towards the adoption of IFRS. I will discuss the pros and cons of IFRS implementation in the USA and also its costs and benefits almost simultaneously. On the pro side, I will be touching on the fact that with the implementation of IFRS standards in the USA, success in the development of high quality and comprehensive accounting standards have been achieved. The con side will be costs related; whereby there is an underlying concern the financial reporting principles have been drastically pushed downwards and later concealed by obscure uniformity. The conclusion that the uniform financial reporting will enhance inter-firm and cross border comparisons seems immature as it ignores the existing economic and political factors that greatly affect the financial statement preparers incentives, which will then affect the eventual reporting practices (D'Atri Braccini, 2010). The IFRS implementation in the USA is mandatory after the SEC officially reviewed all the regulations and made them to be part of the reporting standards. The accounting standards reviewed have focused on the determinants of relevance, reliability, and quality. The existing accounting standards FASB and IASB are laying strong emphasis only on reliability but IFRS cuts through all the determinants. The first pro of the adoption of IFRS in the US has direct positive effect on both institutional and local investors. This is because IFRS will promote a more comprehensive, accurate and timely information concerning the financial statement, relative to the accepted accoutnitng standards. To the point that these financial statements are not sourced elsewhere, it should enhance a comprehensive valuation of all equity markets hence, making investors to have low risks. Small institutional investors, unlike the professional ones, would be able to confirm the financial statement reports from external sources. Enhancing reporting quality enables these investors to compete favorably with the established investors and thereby reducing risk that they may be engaged with (Jameson, 2010). Through the elimination of global differences in accounting standards and standardization of all reporting formats, the IFRS will eliminate many changes and re-evaluations, which the financial analysts have made in the past to make the companys financial reports comparable internationally. The implementation of IFRS in the US, therefore, will reduce the costs incurred by investors in preparing the financial information. An added gain is that, lowering the costs of preparing the financial reports will increase the efficiency in which the stock markets can incorporate them in prices. Investors are thus expected to benefit from enhanced market efficiency. IFRS implementation will also lower international differences in accounting policies and standards, which aids in the removal of barriers existing in cross-border mergers and acquisitions, as they in theory, reward investors with enhanced takeover premiums. Generally, IFRS implementation offers increased and rewarding comparability and thus lowering the information costs due to asymmetric information. It is very important to discuss its evolution from the time it was first implemented. This will enable individuals to appreciate how these accounting standards have transformed the business picture in the US and the rest of the world. Something worth noting is that all companies are supposed to have strict compliance to universally accepted accounting principles (Thomas et al, 2008). The eventual transition of US accounting policy from US.GAAP is basically a factor to be highly regarded by most individuals in the corporate world. The road map to IFRS was initially an idea of Stock Exchange Commission. More than 200 professional letters were eventually handed over to the SEC from users, preparers, analysts, academia, auditors, professional organizations, and other people. Facts and opinions relating the IFRS issues like implementation costs, compatibility, quality, and convergence versus adoption were laid across the spectrum, despite the fact that most individuals realized the importance of quality financial reporting standards for both domestic and external reporting (Wolfgang Piera, 2010). The roadmap reveals a vision or target, that if achieved, would result to the recommended use of IFRS for all US issuers before 2014. This year, the SEC has decided to move with the 2009s proposed plan, which was based on the eventual achievements of marked milestones. During that year, the SEC published many articles revolving around possible effects of IFRS adoption and addressing critical issues raised by academia and authors concerning the mode of implementation. A single set of accounting principles will enhance greater comparability of performance between firms and can enable companies from different locations in the world to use the same standards (Thomas et al, 2008). It also increases transparency, encourages cross-border investment activities, which come with greater liquidity and low capital costs. Adoption of IFRS will also reduce time and costs accrued when preparing financial statements using different standards and policies hence achieving huge savings of investment ca pital in the end. The implementation of the IFRS will remove the inconsistency of accounting information as a result of applying different accounting standards. This will help investors to continue pursuing various strategic policies like global investment diversification. Detailed explanation of these benefits will be handled when I will be dealing with the weight of cost benefit analysis of the implementation of IFRS in the USA.IFRS have varied indirect merits to investors. Since greater information details reduce all risks accruing to less informed investors and those owning shares, it eventually lead to the reduction of the companys cost of capital. This willthen increase share prices and make new firms investments to be attractive, keeping all other factors constant. These indirect advantages come from increasing the usefulness of the financial statements in two or more contracting parties. Enhance level of transparency makes managers to act in consistency with the shareholders interests and aspirations. Moreover, timely recognition of losses in the prepared financial statements enhances the managers incentives to pay attention to the unsuccessful or unprofitable but operational investments more quickly, and thus reduce the undertaking of firms with negative NPVs in future like trophy acquisitions and pet projects. The enhanced transparency and timeliness in loss recognition enabled by IFRS thus, raise the efficiency and suitability of contracting between managers and firms, reducing the agency costs existing between shareholders and managers therefore, ensuring that corporate governance is enhanced (Wolfgang Piera,F2010). The investors gain arises from the fact that managers are improving on their welfare. The indirect demerits accruing to inve stors come from enhancing the usefulness or utility of the financial statements in some firms, which have entered into a contract with other third parties. Adoption of IFRS will lead to positive cash flows to investors. The positive cash flow effects include contracting costs and lowered cost of managerial rent extraction, which is associated with enhanced financial reporting transparency. Investors will be able to get convergence benefits. This will lead to the firms reducing forecast errors and satisfying investor confidence. The more improved transparency assured by the implementation of IFRS would lead to increased efficiency of firms and lenders under contract. This will ensure a constant efficiency of operations in the intra-firm and inter-firm developments (Barry Eva, 2010). On the costs-benefits analysis, IFRS seems to have more benefits than costs if implemented. First, IFRS increases the liquidity of capital markets. Moreover, it reduces the firms capital costs by ensuring the provision of comprehensive information to shareholders about corporate governance. Nevertheless, most scholars argue that the above point is only applicable if the adoption of the IFRS rules and standards will lead to the improvement of reporting quality and the comparability of all reporting practices world wide. Finance and accounting scholars suggest that it is less certain that a transition to the IFRS will bring about substantial effects on the quality of reporting in the USA. US companies have a required obligation to report their figures in a procedure or a given format that is not determined by the accounting standards but also determined by the countrys enforcement effects and legal institutions. All these issues have resulted in high quality reporting in the US. If the factors will not be changed, it is less likely that most US companies reporting issues would become better due to IFRS adoption. The scholars have also concluded that it is not so certain that transition to IFRS will adversely affect the quality and standard of reporting by the American companies since the other forces will take effect (Bruggemann, 2001). The proponents of IFRS implementation suggest that upon the adoption of IFRS in the US, it will result in better comparability of financial reports with other companies in the world. However, the accounting standards are among the factors that influence the companys reporting incentives, hence it will become more doubtful if the implementation of IFRS would lead to tangible economic benefits. If some factors within the firm are different across countries and firms, then the firms reporting policies will be different in some aspects either with or without the implementation of the IFRS standards. Evidence got from other countries and firms shows that there exists a wide difference in the way firms apply and use IFRS and that most firms show a likelihood to use their local GAAP when dealing with accounting formulations and judgments. What is interesting ,however, is the fact that US companies have tried so much to harmonize the difference existing between US/GAAP and IFRS thus, enabling them to make comparisons with other countries financial reporting activities (Commerce Clearing House, 1984). When it comes to costs side, the implementation of IFRS will need support from auditors, regulators, investors, and investors. At the transitional stage, most firms usually make their accounting procedures and policies and provide financial information, which are comparative in nature between the previously used US/GAAP report and the adopted IFRS compliant financial reports. Moreover, companies usually train their employees and other stakeholders like investors and analysts in the preparation and use of the financial reports. The financial contracts with the elements, which are tied to accounting figures would be revisited. In the economic situation prevailing currently, most companies are unwilling to incur all these expenses and costs. One should also consider the long run benefits of IFRS implementation. For instance, most US firms operational world wide would economize a great deal of money by avoiding the costs and expenses of translating all the financial reports into many accounting languages. Therefore, transition to IFRS would ensure that multinational firms belonging to the US maintain and follow a single class of accounts. Even though US multinational firms would reap a lot of benefits due to the implementation of IFRS, it is not so certain that all domestic US firms would garner a great cost savings if they agree to implement IFRS. Additionally, most large firms would be able and willing to absorb all the costs of implementation or adoption of IFRS because these costs are part of fixed component. Firms with the Big Four auditing team will gain because these auditing firms have vat experience in the formulation and implementation of IFRS reports and they rely mostly on global professional network. Having indicated all these factors, determining the overall effect of IFRS implementation in the US reduces to a trade off between costs of implementing the new system and the recurrent benefits or gains of having the ability to do comparison of financial reports over different countries. It also includes the recurrent cost savings got from using a one-line reporting standard for some companies. Scholars show that it is not very clear what the impact of the cost-benefit trade-off will be for a specific company. To some scholars, IFRS implementtation in the US is the right course of action to take if the companies are given choices or a transition criterion that is very dynamic and flexible. The scholars also devised two adoption processes or stages whereby the first stage involves a company voluntarily opting to transits to IFRS or maintain the previous standards. The second stage is where there is a mandatory and universal adoption of IFRS policies and stipulated framework. All the companies are required to switch to this policy(IASB, 2009). The multi-stage process enables companies having low net costs of implementing the IFRS to quickly take the lead and this will furnish investors, regulators, companies and auditors a good opportunity to observe, learn and conclude about how the switching to IFRS affect their performance. For example, auditors or auditing firms will understand how to switch firms to adopt IFRS, which will alternatively lower the costs and expenses for firms that adopt the given standards in future. With time, a host of companies may find it rewarding to make transition, thereby making it less hard to ensure that all firms have followed suit (Barry Eva, 2010). The networks of benefits of one-line accounting standards will be fully achieved if large number of firms adopts the required standards. Thus, scholars observe that Stock Exchange Commission proposals that require a small number of companies to apply the required standards is self defeating, since most economies of scale together with network effects will not be clear for small groups. Given that global markets are ever interacting, the need for clearer and more consistent accounting standards become inevitable. The conversion of US accounting standards to IFRS will benefit the country in a global market perspective. It will enable companies to improve their processes, streamline accounting systems and prevent parallel accounting over the cross border jurisdictions. The greatest concern, however, that arises from the implementation of IFRS is that both the institutional and external investors will be given misleading information to believe that there is a consistent uniformity in the reporting standards, which is not the case. Uneven implementation will lead to increase in the costs of processing the demands of multinational investors (Barry,2010). Another effect of cost-benefit analysis of the implementation of IFRS in the US is that of the implementation costs. According to Stock Exchange Commission, it will cost the government almost $ 8 billion dollars to implement IFRS nationwide. This cost is not reflective of the economic gains to be received as the infant companies who are new to the policies will have to incur recurrent costs to keep the system working. From the cost-benefit point of view, some scholars believe that convergence is more important or is advisable than adoption. IFRS implementation will present many challenges to the US ec onomy as it would result in cost- push inflation. Enforcement of IFRS in the USA and in other countries could pose a serious challenge due to different political and economic settings. Different countries in the world have different political and economic factors and reporting standards hence, harmonizing these factors will be costly and time consuming. Investors look at the introduction of IFRS to be negatively affecting the quality of reporting. This can happen if investors believe that IFRS will not succeed in reflecting regional disparities in economies or maintain the countries varying economic and political features, which can lead to existing disparities in internal domestic standards. Some investors will also believe that upon the implementation of IFRS it may lead to rise in managerial discretions (Krishna Palepu, 2007). The pronounced effects of IFRS implementation in the US have lead to the redistributing consequences cutting across all firms. The effects of comparability of different financial statements prior to the implementation of IFRS will also pause a great challenge. Despite all the costs and cons I have explained, the US willingness to adopt IFRS shows that the country is willing to corporate with other countries for a common good (Abbas,2011). The cost, which could arise here, though insignificant, is that most countries in the world employ different financial reporting standards, which will give problems to harmonization of reporting policies. For nations that have not implemented these policies, it will be very difficult for US multinational firms to operate in these countries because of the existing financial reporting disparity. When the IFRS is implemented in the US, it will increase or enhance corporate decision making. IFRS will lower the existing asymmetry of information, which could have otherwise negatively affected sourcing of external capital. Implementation of IFRS will reduce agency issues as it will provide a trustworthy benchmark, which enables the foreign investors to evaluate the efficiency of the firm(Barry et al, 2010). What needs to be understood is the transition costs incurred. USA will incur a great deal of expenses when formulating policies that will eventually result in the implementation of IFRS. Much as there are existing recurrent benefits, it is worth mentioning that for firms who initially were not conversant with IFRS principles, recurrent costs would also be incurred. This will cause a substantial financial drain to most US companies. Companies will need to adjust their internal accounting framework, train all their accounting officers and ensure that the existing investors and shareholders are notified concerning the changes in accounting standards. For firms, which may not be able to catch up so easily, what is required is that they will have to outsource firms capable of preparing their financial reports commensurate to the IFRS rules and regulations(Krishna et al,2007). The projections indicate that the transition costs per firm average 0.31% of their sales revenue and the bigger firms average stands at approximately $ 700 million dollars. From these figures, it can be concluded that transition costs could average $ 8 billion nationally. These costs are bound to rise if the Stock Exchange Commission reports the data inclusive of all US/GAAP reconciliation costs (Wolfgang,2010). In conclusion, the reflective idea is that US should consider adopting the IFRS policies since not only will it enable firms to have increased investment returns but makes the country to pose financial statistics, which are comparable to those of other countries. This will ensure that there is harmonization of all the accounting principles in order to ensure effective and efficient financial reporting. Buy custom IFRS Implementation in the US essay

From Atlas to Atlanticists

From Atlas to Atlanticists From Atlas to Atlanticists From Atlas to Atlanticists By Mark Nichol Intrigued by a reference to the political term Atlanticism, heretofore unbeknownst to me, I researched the history of the name of the ocean that separates the western and eastern hemispheres. This post defines and discusses these and related terms. Atlanticism, a term coined in 1950, refers to the concept of cooperation between the United States (and, to a lesser extent, Canada) and the countries of Europe, an idea that developed during World War II and was codified in the formation of the North Atlantic Treaty Organization in 1949. An advocate of the belief that this relationship is fundamental to geopolitical stability is an Atlanticist. The term, of course, is based on the name of the Atlantic Ocean, the body of water that separates North America and Europe. But where does Atlantic come from? That word, in reference to the seas beyond the Pillars of Hercules (a poetic name for the portal of the Mediterranean Ocean), dates to the classical Greek era and derives from the name of Atlas, a Titan who is said to have been condemned by the Olympic gods to hold up the heavens in perpetuity. (Titan is often depicted bearing Earth on his shoulders, but this image is based on confusion of the sky as a celestial sphere with a planetary globe.) This myth is associated with the Atlas Mountains, located in northwest Africa and flanking the southern side of the Pillars of Hercules, which metaphorically brace the sky. Because illustrations of Atlas were often prominently featured on illustrated maps during the Age of Exploration (starting in the fifteenth century), bound collections of maps came to be called atlases. (The origin of Atlas’s name is disputed; it is said to be either from a Proto-Indo-European root meaning â€Å"uphold† or a Berber word for mountain.) Another name derived from Atlas, by way of Atlantic, is Atlantis. This was the name Plato gave to an imaginary island employed allegorically in one of his philosophical commentaries. Unfortunately, later readers misinterpreted this fictional location as a real one, and pseudoscientific speculation has run rampant ever since, to the point that Atlantis is held up as a psychically and spiritually fueled utopia that tragically met its end by divinely caused inundation. (The name for an inhabitant of Atlantis is Atlantean.) Transatlantic (compare transpacific) describes something pertaining to a connection between the western and eastern hemispheres. Atlanta, the name of the capital of Georgia, resulted from the originally suggested designation Atlantica-Pacifica, inspired by the names of the oceans bordering the United States. (The name of the Pacific Ocean is from the adjective pacific, meaning â€Å"peaceful,† ultimately from the Latin word pax, meaning â€Å"peace.†) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Using "a" and "an" Before WordsSocial vs. SocietalThrew and Through

Station Nightclub Fire Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Station Nightclub Fire - Research Paper Example The video footage reveals that the smoke of the fire acted as the disincentive for the crowd to break through and the exit blockade acted as the catalyst (NIST Engineering Laboratory, 2011). The first flames were thought to be the part of the act. When the flames reached the ceiling and the smoke began to spread all throughout the club, people realized that the fire is not under control. Within a few seconds after the polytechnics ended the band stopped to play and most band members took the escape route through the west. The fire alarm of the club acutely made everyone aware of the danger while most tried to take the way through which they entered. The massive crowd led to stampede and the exit got completely blocked. This resulted in deaths and severe injuries for the staffs. After the tragedy the Governor declared a moratorium on the displays of pyrotechnic for the venues that can hold less than 300 people. After five months of the accident, the band started a benefit tour. A portion of the generated proceeds were forwarded to the Station Family Fund. The site was cleared and the relatives left a multitude of crosses for the deceased. The members who managed to survive intended to acquire the site and place a permanent memorial. Since the month of May, 2003, nondenominational services started at the fire site on monthly basis. The members of the affected families and the friends who lost their dear ones gathered to take part in the memorial. The Station Fire Memorial Foundation was formed in June, 2003. The purpose of the foundation was to purchase the property and take care of the memorial. The Foundation is still continuing the services on yearly basis. Investigations started to dig out the cause of the fire. The investigation included local and the f ederal agencies. The investigators interviewed the witnesses and visited the scene. The scene was divided

Economic concepts to my personal experience Essay

Economic concepts to my personal experience - Essay Example This paper looks at how some of the microeconomic concepts can be applied to personal life and how they relate to our everyday usage regarding the goods and services. Micro economics is mainly helpful for me in making the decision on switching between the alternatives available for a particular satisfaction. To draw a balance between my budget and prices of the commodity. It certainly helps in buying decision in my personal life. For starters, let us consider the simple fact of buying and selling goods and services. When we want to buy a particular good, there are a host of factors that determine our decision and influence our purchase right from the price of the good to the quality of the good and the competitors for the brand of the product. We measure the utility of the good against the price and then take a decision regarding whether to buy it or not. If we compare the utility value of a good against the price, we would come to a fairly reasonable conclusion about maximizing utility and thus contributing to our decision to buy the good. This applies in the case of many household goods and services and can be used to determine whether a particular good ought to be bought or not. The Microeconomic theory helps in finding answers to the three basic fundamental questions for any business entity in any economy–(1) what to produce, (2) how to produce and (3) for whom to produce in order to utilize the available scarce resources efficiently. That is why the Price theory, Demand concepts and theories of Market structure are the important elements of micro economics. Microeconomic theory studies the economic behavior of individual decision-making units such as consumers, resource owners (i.e. households who provide services to the business entities in exchange of the income) and business firms in a free-enterprise economy. Proper analysis of all these 3 areas of concern helps the business entity to perform efficiently. If the business