Conceptual Framework for Obligations Financial Reporting

Question: Discuss about the Conceptual Framework for Obligations Financial Reporting. Answer: Introduction In todays world companies are expanding their operations globally; as a result financial reports are becoming more complex due to the high involvement of financial transactions. Due to the existing complexities, shareholders and stakeholders are not able to understand and analyze the financial report for their own use. Financial statements are included in the annual report of an organization which is a comprehensive report which addresses the need of knowing the financial performance of the company ti its shareholders, creditors and investors. Hence it is the responsibility of the accountants to simplify the terminology used in those statements to make every individual who is not technically qualified can read and understand. Internationally acclaimed accounting bodies such as IASB and AASB have provided a legal framework which gives a true and fair view of the organizations financial position. It is the duty and obligation of an accountant to make sure that these accounting standard s are followed properly and provide the right judgment about the organizations performance. They should disclose all material information which can affect the decisions of the investors in the long run. Importance of simplifying the annual reports An annual report of the firm gives an insight about the companys performance and its future strategic decisions taken in the previous financial year to its shareholders and stakeholders. It is very important that it should be provided in such a manner that it is understandable to everyone, to be very specific the companys investors. The investors analyze the important information and take crucial investment decision based on that. So, it is very important simplification of material information should be done (Deloitte, 2014). Elements of simplification: Materiality and disclosure: Organization should provide information which is relevant to the shareholders and stakeholders. Irrelevant information provided may distract and confuse the investors but not disclosing any financial information should not be misunderstood as concealment of important information which will considered as a fraud (Hughes Fisher, 2015). In the report of AGL energy information about their business growth, profitability of each business segment, future strategic plans and cost and expenses occurred are presented in very precise and clear manner (CPA, 2012) Illustrative tables and figures: It is not important for the user of annual report to understand important information between the lines. The information should be presented in an interactive manner so that the investor does not miss any relevant information. On the very first few pages all the information regarding companys EBIDTA, EBIT, underlying profits etc. are provided in a graphical format showing clearly the increasing and decreasing trends. Also AGLs major achievements and developments are highlighted using pictorial view (Grand thornton, 2015). Comparative analysis: Investors can only analyze the growth of the company by comparing current year performance with the previous ones. Comparison plays a crucial role in the investors decisions. AGL energy has stated the information of past 4 years in preparing the financial statements to provide an overview of companys performance (Deloitte, 2015) Footnotes and explanation: It is not possible to understand each and every item mentioned on the financial statements, so the companys explain the relevant details in the footnotes, so that it can provide additional detail view to the investors. In AGLs report all the necessary clarification regarding the financial statements are disclosed in footnotes in a very clear manner (HMT, 2014). Financial illiteracy in the context of IASB/AASB The purpose of preparing an annual report is to help the investors, lenders and creditors to take appropriate investing decisions based on the performance of the company. Not every individual is an expert in reading and interpreting the financial reports provided by the company. Companys financial report as it is prepared by professionals is complex and difficult to understand. Financial illiteracy in this context refers to situation where the investors or any concerned party are not in a position to understand the financial statements and as a result they are not being able to take any sound investment decisions. To cope with this problem internationally recognized accounting bodies such as IASB/AASB have provided a universally accepted framework in terms of accounting standards and concepts to simplify the annual report for its end users. The aim of these organizations is to set high quality understandable standards which are accepted uniformly all over the world. They provide vari ous guidelines regarding disclosure and presentation which is to be followed strictly. IASB/AASB standards are following principle based system which follows judgment based application of policies and procedures (ACCA, 2014). The advantages of following principle based system are: They give a true and fair view of the financial statements. It encourages the use of professional judgments rather than following rigid rules. More flexible can be changed with the change in business environment (AASB, 2015). There are certain concepts which provide a framework for the better understanding of the annual report. The annual report of AGL energy has been prepared in accordance with the AASB standards which are taken from the IASB standards. These are: Report Entity concept: Under the reporting entity concept more emphasis is laid on preparing the consolidated or combine financial statements of all the businesses of the organization. The report of AGL energy has prepped their statements in a consolidated manner and the loss mentioned is also consolidated loss (ICAS, 2012). Recognition and derecognition: According to the recognition concept all the material transaction should be brought into the light of the investor. Derecognition concept refers to ignoring all the irrelevant information which does not affect the investment decision should be ignored. AGL energy has mentioned in detail about their energy plant transactions, sale and purchase of their fixed assets in a detailed manner (IFRS, 2015). Measurement: It is the right of the investor to know the method used to evaluate the assets of the firm. AGL energy in their notes have disclosed that they have prepared the consolidated financial statement on the basis of historical cost method and financial assets are measured using fair value (ACCA, 2013). These concept provide an overview about the policies and procedures followed by the company in a simple and clear manner. The annual report of AGL has been a clear example of a good and precise report as it states all the necessary in an easy and organized manner, this report educate investors about all the material information which will form a strong basis for their investment decision (PWC, 2015). Role of professional judgment A financial report cannot be presented without the help of professional and qualified individuals. These professionals are Auditors, accountants and chartered accountants. Companies hire these people to give their professional judgments to make their financial report more reliable and credible. There is no governing framework for providing a professional judgment rather it is based on the abilities, experiences and intuition of the professionals (Ernst Young, 2015). As told before there is no governing law or standard for giving a sound judgment but they should be made in the context of existing applicable accounting standards, concepts and policies. Requirement for providing professional judgments: Professional judgments should be exercised by a professional who have knowledge and expertise in that area because it is assumed that they have the required skills and knowledge. Professional judgments should be taken within the framework of accounting standards, policies and concepts. Professional judgments should be taken while analyzing all situations and circumstances and professional should take the responsibility of their decisions (Ernst Young, 2015). The authority of taking professional judgments lie in the hands of the auditor and the prepare of the financial statement. An auditor is an individual who checks and verify all the information presented in the financial report before it is presented in front of the shareholders and stakeholders. Without the auditor the financial statements are mere a piece of information which is not verified and authorized. It is the responsibility of the auditor to verify and check each and every items and cross check that they have supportive evidence or not (ASIC, 2015). Elements of judgment on the basis of concepts: Neutrality: An auditor should be a third party who should not be influenced by the management a sit will not ensure the accuracy and will subject to biasness. So in order to provide a true and fair judgment the auditor should be neutral and provide a fair judgment to the shareholders. Prudence: While auditing the financial statements the auditor should provide a their expert judgment on the basis of analyzing all the facts and figures, because their judgment will become a criteria for investors decisions in future. Reliability: The auditor should check all the items present in the financial statement along with their supporting documents to ensure that they are reliable and not fraud. Materiality: The auditor should also check that all the material information are disclosed and there is no concealment of facts on the part of the company. Shareholders and investors only trust on reports which are authenticated by an auditor. No annual report holds any importance if it is not authenticated by an Auditor. The AGL energys annual report is also audited by the external auditor Deloitte. By appointing an external auditor the company ensure its lenders and investors that the financial information provided is unbiased and true to the best knowledge of the company and the auditor. Conclusion It is very important for every organization to comply with accounting standards so as to give a true and fair view of their financial statements. Legal compliance with accounting standards gives investors a confidence in the financial data presented. It is the responsibility of an accountant to simplify the financial terms and disclose all material information so that investors can acknowledge relevant information useful in taking investment decisions. Too much disclosure should be avoided as the investors may miss the useful information and the core purpose remains unsolved. The accountant should use their expert judgment in order to give unbiased opinion and guide the organization to follow the rules and procedures. References AASB (2015) Conceptual framework for financial reporting. Australia accounting standard board, Australia. Retrieved from https://www.aasb.gov.au/admin/file/content105/c9/ACCED264_06-15.pdf on 24 January, 2017. AASB (2017) About Australian accounting standards. AASB, 2017. Retrieved from https://www.aasb.gov.au/Pronouncements.aspx on 24 January 2017. ACCA (2013) Why breadth and depth of finance capability matter in todays finance function. The Association of Chartered Certified Accountants, London. Retrieved from https://www.accaglobal.com/content/dam/acca/global/pdf-campaigns/cfo-survey.pdf on 24 January 2017. ACCA, (2104) Prudence and IFRS. The Association of Chartered Certified Accountants, London. Retrieved from https://www.accaglobal.com/content/dam/acca/global/PDF-technical/financial-reporting/tech-tp-prudence.pdf on 24 January, 2017. CPA (2012) Accounting concepts and principles. CPA, Australia. Retrieved from https://www.cpaaustralia.com.au/documents/study-manual-accounting-concepts-and-principles.pdf on 24 January 2017. Deloitte (2014) Reporting obligations. Deloitte, Australia. Retrieved from https://www2.deloitte.com/content/dam/Deloitte/au/Documents/audit/deloitte-au-audit-GPFS-listed-model-FS-june-2014-section-d-270514.pdf on 24 January 2017. Deloitte (2015) Annual reports insights 2015. Deloitte, UK. Retrieved from https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/audit/deloitte-uk-annual-report-insights-2015-highlights.pdf on 24 January 2017. Ernst Young (2015) Role of auditors in the society. Ernst Young LLP, UK. Retrieved from https://www.ey.com/Publication/vwLUAssets/EY-financial-services-viewpoints-audits-role-in-society/$FILE/EY-financial-services-viewpoints-audits-role-in-society.pdf on 24 January 2017. Ernst Young (2014) Comment letter on conceptual Framework. Ernst and Young, UK. Retrieved from https://www.ey.com/Publication/vwLUAssets/EY-Comment-letter-Conceptual-Framework-DP-23-01-14/$FILE/EY-Comment-letter-Conceptual-Framework-DP-23-01-14.pdfn 24 January, 2017. Grand Thornton (2015) Example special purpose financial statements. Grand Thornton, Australia. Retrieved from https://www.grantthornton.com.au/globalassets/1.-member-firms/australian-website/technical-publications/example-financial/gtal_2015_june_example-special-purpose-financial-statements.pdf on 24 January 2017. HMT (2014) Simplifying and streamlining statutory annual report and accounts. HM Treasury, UK. Retrieved from https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/330725/simplifying_annual_reports_print.pdf on 24 January 2017. Hughes, J. Fisher, A. (2015) Five steps to simplifying financial statements today. Chartered professionals accountants, Canada. Retrieved from Five-Steps-to-Simplifying-Financial-Statements-Today-July-2015%20(1).pdf on 24 January 2017. ICAS (2012) A professional judgment frame work for financial reporting. Institute of Chartered Accountants of Scotland, Edinburgh. Retrieved from https://www.icas.com/__data/assets/pdf_file/0013/2605/Professional-Judgement-Framework-Report-ICAS.pdf on 24 January, 2017. IFRS (2015) Conceptual framework for Financial Reporting, Exposure Draft. IFRS Foundation, UK. Retrieved from https://www.ifrs.org/Current-Projects/IASB-Projects/Conceptual-Framework/Pages/Conceptual-Framework-Exposure-Draft-and-Comment-letters.aspx on 24 January, 2017. PWC (2015) Streamlined financial reporting trends in 2015 annual reports. PricewaterhouseCoopers, New York. Retrived from https://www.pwc.com.au/assurance/ifrs/assets/ifrs-streamlined-financial-reporting-oct15.pdf on 24 January 2017. ASIC (2015) Audit quality - The role of directors and audit committees. Australian securities and investment commission, Australia. Retrieved from https://asic.gov.au/regulatory-resources/financial-reporting-and-audit/auditors/audit-quality-the-role-of-directors-and-audit-committees/ on 24 January, 2017.

What drives college

The younger generation is extremely active in the marketplace with a higher spending capacity than their preceding generations. More commonly termed as generation Y, this group of people between the ages of 14-31 has an immense impact on the economy with the increased ability to shop. It is thus important to understand the consumption behavior of the younger generation in order to recognize the motivating factors behind their consumer behaviors. Consumer shopping behaviors indicate several key themes.Advertising We will write a custom article sample on What drives college-age Generation Y consumers? specifically for you for only $16.05 $11/page Learn More Freedom and Finding Oneself Young consumers are in the maturing stage and face struggle in gaining freedom and independence from parents and friends. In the maturing stage of their life, they seek to break away from the shackles of parental authority and peer pressure by choosing products through which they can assert their freedom. The idea of â€Å"gaining freedom† occurs by making a choice to use certain products or services over others. These choices are heavily dependent on the peer pressure and the desire to fit in or be individualistic. Blend in or Stand Out The struggle to â€Å"blend in† or â€Å"stand out† reflects in consumer choice and brand preference of teenagers. While some may use a brand to â€Å"fit into† a peer group, others may want to adopt a different style to â€Å"stand out† and feel a sense of individualism. Brand personality Consumers relate to the personality projected by the brand by identifying traits consistent with their own. Consumers seek to reflect their persona through the choice of their brand. Fashion Knowledge Fashion trends dominate consumer behavior of the younger generation who like to keep up with the fashion industry by following trends of celebrities and their individual fashion idols. Value Seeking Com petitive pricing is an essential driver in consumer purchase decision who tries to get the best quality at a good price. Brand Comfort Brands allow young consumers to feel a sense of security and comfort I addition to making them look acceptable to their peers.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Theoretical Premise Explaining the Behaviors Socialization theory explains the rationale and motivation for consumer behavior. It helps understand how the younger generation members choose their products and learn to shop. The theory suggests that consumer socialization is the process which allows the development of â€Å"skills, knowledge and attitude† among buyers, enabling them to function â€Å"as consumers in the marketplace†. The themes of â€Å"freedom† and â€Å"finding oneself† are based on the premise of socialization theory which affirms that Gen eration Y seeks independence from parental influence and try to find their identities by using certain brands or products. The theory postulates that youngsters have problems creating a distinct identity in the marketplace despite their knowledge of consumption. The need to blend in or stand out through the choice of a specific product or brand depends heavily on the desire to fit into the mould with friends. The psychological reactance theory and confirming tendencies explains the struggles consumers face and how they make choices to reinstate their sense of independence. Gender based differences in consumer behavior are explained by the self-construal theory. The theory postulates that females perceive themselves as part of peer groups and hence would seek products to reinstate their independence. On the other hand, males perceive their self identity as autonomous displaying behaviors and choices to blend in with peer groups. Self discrepancy theory explains the connection of cons umers to a particular brand. The theory postulates the fit which consumers identify with when purchasing a specific brand. The social comparison theory validates the use of fashion knowledge by consumers for making shopping decisions. The theory explains the feelings of competence and self esteem in consumer buying behavior. Value seeking behaviors in consumers can be explained using the premise of uncertainty reduction. Consumers feel satisfied when they get a certain product or brand which they know to be safe and guaranteed in quality. The value and reputation of the brand holds great significance here.Advertising We will write a custom article sample on What drives college-age Generation Y consumers? specifically for you for only $16.05 $11/page Learn More Theoretical Application to Marketing Managers and Researchers The study offers interesting and useful insights for the motivation fuelling the buying behavior of Generation Y. The study is a great resource to marketing professionals, advertising agencies, retailers and brand developers for understanding the mindset of Generation Y. The results of the article will help marketing professionals and retailers. Using the results of the study, marketing professionals can create the right advertisements to target generation Y. Results of the study indicated a consumer shift towards value in buying products and brands. As such, advertisement campaigns can be targeted to this section using the value quotient. Brands which offer safety, reliability and security rank high among Generation Y consumers. According to the study, Generation Y considers trust to be an important factor impacting buying decisions. Branded products offer comfort and a feel good factor to consumers. Advertisements can be made to appeal to this theme for more enhanced results. Consumers of Generation Y identify with the fashion quotient and are driven to purchase products which fit their image. Marketing campaign s can be designed to with a fashion icon whom consumers can identify with. The study will be of immense use to marketers in learning the rationale and motivation of Generation Y for buying products and brands which demonstrate traits similar to their own. This article on What drives college-age Generation Y consumers? was written and submitted by user Wyatt Gibson 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.

George Walker Bush

George Walker Bush George Walker Bush was born on July 6, 1946 as a first-born child of President George H.W. Bush and Barbara Bush. He was born in New Haven, Connecticut. The American politician became the 43rd president of America.Advertising We will write a custom essay sample on George Walker Bush specifically for you for only $16.05 $11/page Learn More His family had a heritage of success in the public service and business arena. For instance, his great grandfather Samuel P. Bush was a successful businessperson in the steel and railroad industries upon which he built the family empire. Moreover, he served as a significant advisor to President Herbert Hoover and thus his family had connections with political figures in high positions. His grandfather Prescott Bush was a successful businessperson too. He served in the Army during World War 1 and together with his wife, raised their children and expected them to excel in everything they did hence they grew up to become compe titive and achieved success in their lives as shown by their son George H.W. Bush the 41st American president (Boyd, 2007). George W. Bush did not disappoint the family legacy of greatness, as he became the American from 2001 to 2009. He attended a public school called San Jacinto Junior High in Midland, Texas and was elected as class president. During his time in San Jacinto, he played in the football team. After a year, he transferred to a private school called Kincaid in Houston, Texas after his family moved there because of his father’s business in 1959. The following year he moved to Phillips Academy in Andover, Massachusetts an elite preparatory school because his parents believed in giving their children the best education. He was an average student and worked very hard because he feared to fail (Rumsch, 2009). He did not become a star in academic or in sports like his father, but he was very social and made many friends who nicknamed him ‘Lip’ as he alway s had an opinion on anything (Cohen, 2000). He joined the basketball and baseball teams and become the head cheerleader for the football team during his senior year. He joined Yale University and studied history. During his stay at Yale, he joined the rugby and baseball teams. He was a social person, and he joined the Delta Kappa fraternity and Skull and Bones a secret Yale society and graduated in 1968 (Keira Pritchard, 2009). George W. Bush went on to join the Harvard Business School and earned a Master of Business Administration (MBA) degree (George W. Bush, 2011). He became the first president of America with a Harvard MBA (George Bush’s Legacy, 2009).Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More He was a businessperson in the oil industry prior to entering politics. He opposed government regulation. For a long time, he lived under the shadow of his father and wanted to build his own identity. Therefore, he thrust himself into the world of politics in 1978. He ran for a house seat in Texas, but his bid was unsuccessful. He returned into business and started small companies in the oil industry. He formed the Arbusto Energy that later became Bush Exploration and merged with Spectrum 7. He became the chair, but his company did not escape the decline in the oil prices and it folded up becoming Harken Energy. He became a board member at Harken. He is rumored to have had a problem with alcohol but he quite the habit in 1986 and defected to his wife’s church the Methodist (Keira Pritchard, 2009). His evangelical faith is said to have influenced some of his decisions later in his presidency. He moved to Washington DC to help his father in his presidential campaign in 1988. He brought in the support and vote for the Christian Conservatives, and his father was elected as the 41st president of America (Keira Pritchard, 2009). Later George W. Bush bought s hares in Texas Rangers baseball franchise and was actively involved in its team projects. Time passed by and in 1992, his father called him to help in running his reelection campaign. He served as a campaign advisor. On the other hand, George W. Bush did not lose hope in running for an elected seat again and in 1994, he threw himself back at politics and ran for Governor of Texas. His campaign promises were the improvement of education, crime reduction and improvement of the welfare program. He ran against Ann Richards, an incumbent Democrat on a Republican ticket. Moreover, he pledged that Texans would carry concealed weapons once they chose him. He went on to win the election and became the governor (Cohen, 2000). During his tenure, he pushed for tax cuts and give government funding to organizations so that they could educate the public on the dangers of drug and alcohol abuse and domestic violence. Although Texas ranked poorly in environmental evaluations, the electorate looked a t his efforts in improving education and ensuring better pay for teachers. His political career continued to rise because he was reelected as governor for another consecutive term becoming the first Texan governor to do so in a four-year term (Burgan, 2003).Advertising We will write a custom essay sample on George Walker Bush specifically for you for only $16.05 $11/page Learn More Faith was important in his life. He encouraged faith-based organizations to take the step of helping the needy, and his support for the organizations saw his approval rating soar. He also opposed abortion due to his faith. During his first term as governor people started to speculate that he could run for the presidency in the future, his reelection made the speculation stronger, and eventually he made a decision to vie for Republican presidential nomination (Cohen, 2000). Eventually, he announced his interest in the candidacy for the presidency in June 1999. He ran for his party ’s nomination and managed to beat the other presidential hopefuls to clinch the running ticket. After winning the Texas governor seat, George W. Bush began to get ready to run for the presidency in 2000. Many political experts and reporters dismissed him as a serious presidential candidate because he often made blunders in his speeches. However, such opinion did not deter him. When the presidential elections came, he threw himself into the race. He was the son of a former president it was advantageous to him because he could count on the support of wealthy Republicans during his campaign. He managed to raise $93 million a very high figure at that time. Using the money he raised, he put together a talented group of people in his campaign team and numerous advertisements on television (Burgan, 2003). George W. Bush is conservative, and he ran his campaign by saying that he was a compassionate person. He promised to cut taxes, as it was the right thing to do to help save and bui ld America. He argued that people could use the tax cuts to open businesses. He also urged churches and other private organizations to get involved in helping the community instead of waiting around for the government to be directly involved. Moreover, he called for the increase of money spent in the military to develop a missile-defense system. The defense system would enable the U.S. destroy large missiles that would target the country. He believed in a safe country that could defend itself against attacks. He promised to improve education as well as aid the minorities (Burgan, 2003). Furthermore, George W. Bush painted himself as a uniting factor and many people listened to him as he promised to unite the nation in a bid to overcome their problems and make America a prosperous country that could make them proud. He also came across as a person who could connect with the population as he relied on his Texan roots to portray an image that many would approve thus elect him president (Carney Dickerson, 2000).Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Republican nomination was a close battle, but George W. Bush edged out John McCain, his closest rival, and he chose Dick Cheney as his running mate. Cheney had experience, as he was a veteran politician. George W. Bush hoped Cheney’s experience would make people feel comfortable thus overlook his own inexperience (Keira Pritchard, 2009). He ran a fierce campaign against the Democratic candidate Al Gore. During the campaign, he faced many criticisms from his lack of experience. He was also criticized for the way he handled complex issues by ignoring them off or treating them casually. The Democratic Party highlighted his strong opposition against abortion and the opposition to the hate-crime legislation. Others such as the liberals criticized him for supporting the death penalty, and they talked about the high numbers of death penalties that were given in Texas during his tenure as governor (Keira Pritchard, 2009). The 2000 presidential campaign was hotly contested and e nded up to be one of the closely contested races in the American history. Different media houses called the election in favor of both candidates, and eventually a court battle followed as Al Gore sought for a recount of the Florida votes. The state’s votes were important, as the winner would be the president. The Florida state would determine the winner of the Electoral College votes and after a month-long court battle, the Supreme Court ruled to end the vote recounts in Florida, and George W. Bush was declared the winner according to the initial Florida results that showed he had won. H e became president despite losing the popular vote that left a deep division between the Democrats and the Republicans. President George W. Bush promised to heal the rift that had emerged during the elections between the Republicans and the Democrats as many people still harbored doubts about his legitimacy as he was inaugurated into office on January 20, 2001. The shadow of doubt did not go away, and it followed George W. Bush until the terrorist attack on American soil in 2001. Meanwhile, George W. Bush worked toward getting tax cut proposal passage as he had promised during the campaigns. Moreover, he supported the exploration of oil in Alaska, and many criticized him for allowing the exploration to take place in the protected natural reserves (Graham, 2010). His greatest test in office was yet to come until on that fateful day dubbed 9/11. Terrorists hijacked two planes and rammed them into the world trade center in New York, bringing it down. Another plane hit the Pentagon building, the headquarters of the United States Department of Defense killing nearly three thousand people and injuring more than six thousand. The country was shaken by the attack thrown into grief. The division seen before quickly took a back seat as people rallied behind the President, when he declared war on terror. They were more concerned about their safety than politics many people were sa tisfied with the action taken by the president, and his approval ratings went high. He declared war on global terror, and he aimed to destroy the terrorists of the group A Qaeda led by Osama Bin Laden. The group consisted of Islamic fundamentalists. The U.S. military attacked Afghanistan using air strikes, as it was believed to be the grounds in which the terrorist trained for their terrorist acts (Lind Tamas, 2007). The United States military toppled the central governing regime of the Taliban and although the operation did not capture the exiled Al Qaeda leader, many countries supported the United States action. Consequently, the federal office of Homeland Security was established. The war continued and the country entered an economic recession, and the Bush administration received critic from the people who were opposed to the war from the onset. The administration was accused of violating human rights of the detainees and the civil rights of the Americans (Lind Tamas, 2007). F or instance, the civil liberties of Americans were violated as some citizens were detained in secret locations and denied access to an attorney. Hence, people began becoming uncomfortable with the ongoing war, which was very costly for a country going through an economic downturn, and when the Bush administration extended the war to Iraq based on intelligence of the presence of weapons of mass destruction in Iraq (Draper, 2007). Thus, it became necessary to wage a second war in Iraq. The invasion went well, and the Sadam regime was brought down but the aftermath of the war left the country in a bad situation due to a power vacuum that was left behind (Keira Pritchard, 2009). Moreover, many people were killed in Iraq in the violence that followed from various militia groups. The war was very costly, and the president’s ratings began to decline sharply. It turned many nations against the United States as n weapons of mass destruction was found in Iraq (Lind Tamas, 2007). The P resident failed in some of his domestic policies such as in the Sarbanes-Oxley legislation that involved ethanol mandate. George W. Bush included the bill in his agenda even though it was not among his campaign promises, and it proved to be a wrong choice. Critics say the Bush administration should have acted to veto the legislation, but it did not and the legislation achieved its short-term goal that restored investor confidence in the American securities. On the contrary, its long-term effects are being felt now, as companies are discouraged from going public. Foreign investors have started to look elsewhere to invest because the legislation has increased the cost of doing business in America. The legislation has also imposed rigidities and added extra coast in running public companies (Graham, 2010). Conversely, President Bush achieved some success during his reign such as revamping the economy due to his open policy on free trade that ensured that America enjoyed a good relation ship with countries in South and Central America. One of the ways through which President George W. Bush tried to improve the economy was by signing the Andean Trade Preference Act that helped to improve the relationship between entrants into the global market (Lind Tamas, 2007). The President used a cross partisan technique to reach out to moderate Democrats and have them support his policies. Using the cross partisan approach he brought about legislative packages that saw bills on tax cuts sail through the Congress successful. Other legislative bills that passed were the Medicare and nuclear energy (Graham, 2010). In addition, the two bailouts that were passed during the Bush administration prevented the collapse of the largest financial institutions in America as their collapse would have destroyed the United States economy and resulted in unspeakable repercussions to other countries in the world. Even Bush was criticized for deregulating of the financial industry that eventually led to the problem the action taken saved American and the world (Keira Pritchard, 2009). His first term in the White House was relatively successful in implementing important domestic policies such as on education and tax cuts, and he proved that he was a capable leader. He also managed to overcome the polarization that had occurred during the controversial 2000 election and managed to pass key campaign policies. His second term in office was different from the first as he achieved less success in his agenda. He became more assertive and tried to pass legislation that the political climate did not favor. The President’s power was limited, and he seemed to take Republicans in Congress for granted by failing to deliberate on what would have been his priority agenda during his second term. However, he still managed to win some bills such as the energy bill and housing sectors bill. The failure that George W. Bush experienced during his second term was his inability to select b ills that could earn support of some Democrats instead they did not appeal to the Democrats, and it was very easy for them to oppose the bill thus hurting his presidency by weakening it as he failed to unify them. The Immigration reform appealed to the Democrats, but it did not go well with some Conservative Republicans, who opposed it and he responded by attacking his base. Therefore, the Democrats gained an upper hand against the divided Republicans (Graham, 2010). The natural disaster the Katrina Hurricane saw the Bush administration come under fire as many cried against the White House response to the disaster. The race issue arose and image of the President together with the Republican Party was hurt as many criticized the slow response and lack of preparedness in the disaster (Maranto Lansford, 2009). Finally, President George W. Bush will go down in history as one of the most interesting American presidents. He managed to elicit hate and anger in an equal measure both at hom e and abroad. He left the office with the lowest ratings than any former president as shown in appendix 1. However, the decisions he made in 9/11 attack, Iraq war and the 2008 global downturn will remain as the most significant marks of his presidential legacy. Some reporters may have dismissed George W. Bush as not smart enough to run for president, but he proved them wrong as he showed he was a capable leader in his own right, and he could make major decisions in spite of the unfavorable political mood. His failure in some foreign policies eclipsed the success he achieved in domestic policy. Nonetheless, the decision made by the President influenced not only America, but also the whole world. Appendix 1 Reference List Boyd, V.J. (2007). George W. Bush. New York: InfoBase Publishing. Burgan, M. (2003). George W. Bush. Minneapolis, MN: Compass Point Book. Carney, J. Dickerson, J.F. (2000). The selling of George Bush. Time, 156(4), p30. Cohen, D. (2000). George W. Bush: the family business. Brookfield, CT: Millbrook Press Inc. Draper, R. (2007). Dead certain: the presidency of George W. Bush. New York: Simon Schuster. George Bush’s legacy (2009). Retrieved from https://www.economist.com/briefing/2009/01/15/the-frat-boy-ships-out George W. Bush. (2011). Retrieved from https://www.whitehouse.gov/about-the-white-house/presidents/george-w-bush/ Graham, J.D. (2010). Bush on the home front: domestic policy triumphs and failures. Indiana: Indiana University Press. Keira, S. Pritchard, J. (2009). George W. Bush. Retrieved from EBSCHOST Database. Lind, N. Tamas, B. (2007). Controversies of George W. Bush presidency: pro and con documents. Westport, CT: Greenwood Press. Maranto, R. Lansford, T. (2009). Judging Bush. California: Stanford University Press. Rumsch, B. (2009). George W. Bush. New York: ABDO Publishing Company.

Oil and Gas Prices

Oil and Gas Prices Introduction In the recent past, there has always been news or reports on the rising gas and oil prices. In the recent past, prices have risen from a little over a dollar per gallon to at least $3.47 per gallon. This is according to Forbes (2008), a congressman of the Virginia fourth congressional district.Advertising We will write a custom essay sample on Oil and Gas Prices specifically for you for only $16.05 $11/page Learn More There have been reports that this trend would continue for some time even to a price of 30 more cents per gallon. These increases in prices have been an issue since they have been straining most of the families’ budgets. Forbes says that he has been receiving emails and letters from his constituents regarding the issue seeking to know why the prices are rising at that rate. If this situation continues for a while, it could have much effect on the world’s economy as it would impact strongly on the families and business es as well. The following paper seeks to find out the effects of these fluctuating prices on the environment and the economy and the effects of going green with/without the oil and gas. According to Forbes (2008), the rising gas prices in the past couple of years could have been caused by several factors that have had individual pressure on the energy system. They either influence the price of crude oil or production and marketing of gasoline and the interaction of these in a single market affect the overall gas prices. Some of them include; crude oil prices – their prices are determined by the demand and supply in the world. The OPEC countries are the determining factors since they decide on what to produce and export. This means that the more they produce, the less the prices will be. However, due to the fact that oil is traded in the world market, whatever happens on the ground in these countries could greatly have an effect on the amount of oil produced at a particular ti me of the year. Some example of such events that have affected oil prices in the past include; the OPEC cartel decided to raise production quotas despite the fact that they had previously reduce them in the year 2002. The increasing population in china, India and developing worlds has seen most of the people in these countries have access to automobiles hence increasing the demand for gas and oil in these countries.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More There have been disruptions in countries that produce a lot of oil like Nigeria and Venezuela. Another reason for the increased oil/gas prices is the refinery imbalances – the rising economic growth in the US has created some imbalances in the refining industries since the demand for gasoline is increasing daily and with the declining refining capacity, a lot of constraint has been put on the available oil forcing them to increase prices. Seasonal changes are another factor that has caused the fluctuating gasoline prices. This relates to the time of the year and in this case, gas prices are higher during summer and holiday seasons as many people in America are traveling and hence the demand is high. Forbes (2008) explains that not only crude oil production that impacts on the fluctuating prices rather there are factors such as environmental programs, competition in the local market and proximity of supply. In this case, people living in areas far from the Gulf Coast which is the area where gasoline is produced are likely to pay higher prices since the total price will cover the transportation expenses. Prices also vary according to the competition in a particular area. For instance, the rural areas might experience higher prices since there are not many stations offering such services and on the other hand, those areas with several stations will have fairer prices due to competition. Accordin g to Forbes (2008), the increasing prices have had impact in various sectors in the US. In farming, farmers use energy in processes like fertilization, and due to the increased prices in energy, they have been forced to cut down the amount of produce in a year. This in turn has increased the prices in the amount of food stuff and burden is left on the consumers. Reports by US department of Agriculture said that between 2000 and 2005, the fuel cost on farming rose by 10%. In manufacturing, manufacturers are also not left out as the increased cost on energy used to produce goods forces them to increase the prices of the goods produced and at times they are forced to lower their workers’ salaries. This in turn puts pressure on consumers and workers and strains the economy. The tourism department has also been affected since airlines and bus lines need fuel for them to be fully operational. Some families have been forced to cut short or reduce their travel due to the increased oi l prices and due to this, cities that highly depend on tourism have had heir economy affected. Other than the overall economic effect, individuals have also felt a pinch as they are forced to readjust their budgets to pay for the high prices (Forbes, 2008).Advertising We will write a custom essay sample on Oil and Gas Prices specifically for you for only $16.05 $11/page Learn More There are many man-made machines that rely on oil and gas such as air crafts, motor vehicles and many other industrial machines for them to function. Much as they are useful, they also have some consequences that are experienced by both human beings and the environment at large. For instance, coal and oil have molecules that have byproducts of carbon, nitrogen and sulfur when they are burnt. Apart from this, they also produce some form of particles that do not burn and hence released to the environment and cause pollution (NaruralGas.org, 2004). The environmental issue that has be en on discussion currently, the green house effect, is due to the high levels of gases that are being emitted by these green houses. Naturally, there are gases in the environment that regulate the amount of heat that is emitted on the atmosphere. Researches show that increased emission of green house gases could lead to high temperatures on the earth surface and eventually have disastrous effects on the environment. Motor vehicle and aircraft emissions, paints and emissions from industries contribute to smog which is a product of carbon monoxide, nitrogen oxides and heat from the sun. When these products combine, they form a smoggy layer on the environment and can also cause respiratory problems such as lung damages if inhaled by both human beings and animals. Chemicals such as sulfur and nitrogen dioxides react with water vapor to form acid rain which also pollutes the environment, damages crops and causes respiratory illnesses in human beings (NaruralGas.org, 2004). Apart from bei ng environmental pollutants, gas/oils have several benefits. For instance, natural gas is the cleanest fuel since its combustion process produces little byproducts that may pollute the environment. It does not leave any soot or odors and if inhaled in small amounts, it does not affect human beings. Natural gas is also economical since it is piped directly to the consumer and the system is not easily affected by weather changes hence enhancing safety. When using gas and oil, they are easy to transport hence quite efficient. Oil extraction, refining and selling has also created jobs for many people in the producing countries and also improved the economy of the country though exports. Going green is a term that has been in use currently referring to the methods in our daily lives that can be used to help save the environment. According to Save the World (2009), green living entails reduction in the use of oil based energy and using only organic and chemical free products.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More One can also decide to go green at home by applying healthy farming practices through the use of organic and chemical free farm products. It also means people trying to save water by always turning off taps after use and switching off lights when they are not needed. Some people are also trying to save the world by deciding to use bicycle or walk on foot for the short distances instead of using vehicles that use a lot of gas and oils while emitting harmful gases on the environment (Save the World, 2009). All these practices are aimed at saving the environment and creating a healthier earth and in turn reduce diseases and provide healthy individuals who will be involved in developing the world. However, this move does not come without its negative effects as well. McRae (n.d) argues that as much as we are trying to save the world by using organic products, it is quite clear that such products are quite expensive than traditional ones. This also applies to the hybrid vehicles and use of solar panels which seem to be quite expensive. In this world where all are not equal, not every one is in a position to purchases such products and this means that if they can’t afford the big changes; they may not be part of the change at all. Use of fluorescent bulbs is said to save energy as they last longer and use less energy. However, there is evidence that they contain mercury and if no properly disposed, they could contaminate soil or water. Therefore, they must be recycled and this means that one has to store the used bulbs until they are collected by people concerned (McRae, n.d). In conclusion the fluctuating oil and gas prices have had an impact on the economy ranging from tourism, manufacturing and farming. At the same time, use of these products in our daily live helps us a great deal as they speed up our operations in various operations. However, they also have negative impacts as they pollute the environment through emission of gases and particles and thus causing disease. This leads to use of a lot of money for treatment purpose and as such it means that unless we try to devise ways of reducing these effects, the little we get from our businesses will always be used to offset hospital bills. Going green is a strategy being adopted by many in the world to help save the planet by reducing the use of oil based energy and organic products. Much as it is a good way of conserving our environment, it has its own disadvantages which must be looked into such as the expenses which of course are not affordable to all. Reference List McRae, S. (n.d). Negative Effects of Going Green. Web. Save The World. (2009). Going Green: What Does Going Green Mean? Web. Forbes, R. J. (2008). FAQs: Gas Prices. Web. NaturalGas.org. (2004). Natural Gas and the Environment. Web.

Teaching Strategies Integration Research Proposal

Teaching Strategies Integration - Research Proposal Example He told us that the parent was quite correct, and that he had failed to account for different learning styles. He went on to say that only the grade from then on would count, for that reason, since he felt it was unfair if he left out any of the students. This is how I try to teach my own adult students, both men and women. In this paper I will describe ten of my teaching strategies developed for this purpose. All of these now have different names. According to the researchers who theorized the latest research on them, but they basically represent the major methods for learning. All learner use a combination of them all, with the exception of learners who are lacking the use of one or more physical senses. However, each learner learns more from one of these than the others. So the teacher who taught math using diagram was only addressing the visual learning style, and the students who favoured other learning styles were being left out. This diagram is the most useful for me when I am designing lessons, as it encompasses Kolb`s ideas very well, and includes all five of the methods I mentioned above. However, it adds another dimension, that of procedure and interaction. So try to design each lesson so that it include opportunities to include all of this learning activity and all five learning styles. I do not always introduce the lesson in the same way, as each lesson requires something different to best communicate it content. However, at some time I present it in both visual and auditory fashion. Then I provide a way for the students to discuss the material before giving them an opportunity to apply the learning in some activity. For every lesson I provide notes, though I do not always hand them out at the beginning. Some students take notes, while others just listen. All the students join in the discussion sessions and the hands on activities. Assessment follows using much the same pattern. I require the students to discuss the outcome, write something

Criminal Evidence Essay Example | Topics and Well Written Essays - 3000 words

Criminal Evidence - Essay Example The leading case in this area was R v Leatham 1where Crompton J famously remarked 'it matters not how you get it, if you steal it even, it would be admissible in evidence'.2 There were common law rules which allowed the judges to have the discretion to exclude evidence3 at a criminal trial, if this would jeopardise the position of the defendant.4.The standard of reasonableness to be exercised in this regard was that of the "Wednesbury" criteria.5 .Thus the position under common law was that illegally obtained evidence was admissible, given that it was credible, relevant and did not cause adverse inferences to be drawn against the accused.6 The PACE 1984 came into effect in January 1986 and brought changes to the common law position. The main section 78 7of PACE 1984 codified and consolidated the previous common law position.8 However the later body of case law that developed tended to discard the common law approach and develop an entirely new approach to the section, yet the court has not yet given an exhaustive set of guidelines for the section due to the different facts of each case.9Most of the early case law in this regard involved the exclusion of unfairly procured confessions although the position before the PACE 1984 had been very much the same.10 The position in the cases of r... misconduct by the police authorities in the cases of real evidence.11However the court showed some caution in cases involving Alcohol and DNA tests as there was a likelihood of the rigging of such evidence.12In the very controversial case of R v Nathaniel13 the court excluded the evidence of a blood sample of rapist taken four years ago which was promised by the police to be destroyed given that he was not convicted. They tried to use the sample again to convict him four years later but the court excluded this evidence and Lord Taylor CJ made it clear for the court, 'To allow that blood sample to be used in evidence at a trial four years after the alleged offences when the sample had been retained in breach of statutory duty and in breach of the undertakings to the defendant must, in our view, have had an adverse effect on the fairness of the trial. It should not in our view have been admitted.' This case has been followed wherever evidence has been retained in breach of s 64 (3B) of PACE in later cases of rape, murder and theft. For example in the case of Regina v Weir14 the accused was being charged of brutal murder on the basis of very convincing DNA samples which were obtained in breach of s64 (3B) of PACE and thereby the conviction of the defendant was quashed.. Recently however, in the Attorney General's Reference No. 3 of 199915 the House of Lords expressed dissatisfaction with this judgement and regretted not having convicted the accused despite the heavy amount of evidence involved. The Court said that " It must be borne in mind that respect for the privacy of defendants is not the only value at stake. The purpose of the criminal law is to permit everyone to go about their daily lives without fear of harm to person or property. And it is in the

Sample Company’s Challenge Essay Example for Free

Sample Company’s Challenge Essay Sample Company has offices in Sacramento, New York, Chicago, Atlanta, Dallas and is currently working on a IPv4 infrastructure which poses a problem with future business operations. By the end of 2011, there will be no more IPv4 addresses. New customers and Internet traffic will be using the next-generation protocol: IPv6. The accelerating growth of the Internet presents powerful opportunities to transform the way we work, live, play, and learn. † (The Internet is in Transition, 2011). Do you want to be on the cutting edge of Internet possibilities or still working on the old IPv4 platform? ABC, Inc. s Solution: To successfully convert your company from an IPv4 to IPv6 platform. This business proposal will explain the advantages of a TCP/IP IPv6 infrastructure and how it will help to improve business operations. Now is the time to plan for this critical transition! Below, I will explain the numerous advantages of IPv6 over IPv4. In analyzing your company’s size and sales figures, I have noticed that there are 3,586 companies in the USA within your same industry and you operate smaller than average in annual business sales, number of employees, and revenue per employee but rank average for the amount of years in business. So you ask, why bother transitioning to IPv6 when we are a much smaller business than the average business in this industry? Do we really need to? The answer is yes and the reasons why are explained below. IPv6 Provides More Addresses: Most industries rely on the Internet and have seen significant gains in production and operations from this technology. Suppliers, customers, vendors, etc. use the Internet for orders, supply tracking, etc. The internet now plays a crucial role in most companies operations. While IPv4 has worked well for us for many years, the problem now lies in space exhaustion. It is estimated that IPv4 can only address 4 billion IP addresses. IPv4 is the protocol that provides these IP addresses which are like phone numbers or a home address that describes the physical location of the node or computer so that they may communicate with the Internet. The advantage of IPv6 is that it will use 128 bit addresses instead of the 32 bit addresses that IPv4 currently uses which caps us at the roughly 4 billion maximum addresses available. This means, there will virtually be enough addresses on IPv6 to address almost every device the particular network is utilizing. Therefore, when IPv6 increases the size and range of devices connected to the Internet, the benefit of the network effect will increase as well. â€Å"To provide equal opportunities worldwide, the Internet architecture must cope with rapid growth in consumer interest and usage. The forecast for growth leads to a new perspective on the demand for IP address space. Even without taking into consideration expected address allocation inefficiencies, IPv4’s 32-bit address space is inadequate to support a plethora of connected devices owned by one-third of Earth’s population. (Grossetete, Popoviciu, Wettling, 2008). IPv6 Security Advantages: Another advantage of IPv6 over IPv4 is security. IPv4 offers an optional IP security where IPv6 has it already built in. â€Å"IPv6 ensures that there are end-to-end security mechanisms that will provide authentication and encryption abilities to all applications and thereby eliminates the need for applications themselves to have integrated support for such abilities. The added benefit of using the same security mechanisms for all applications is that setting up and administering security policies becomes a lot simpler. IPv6 allows for complete end-to-end security thereby allowing for a new set of personalized services to be deployed such as mobile e-commerce services that rely on secure transactions. TCP/IP networks that are utilizing IPv4 are dealing with a host of issues encompassing security† (Das, K. 2011). In today’s Internet world, IPv4 platform security issues exist like connection hijacking, IP spoofing, and packet sniffing. There are not always solutions to these problems and if attempted solutions exist, they are usually at the Application level which creates a problem because they re not always operational between different applications or networks. While IPv6 is not a solution to all possible attacks and situations, it does address many lower level attacks which accounts for the majority of attacks on the average network. IPv6 and WANs: Your company has offices all over the nation which means you are utilizing a WAN or wide area network. IPv6 will work even better with WAN’s because â€Å"The expansion of the Internet is also tied to the rapid development and market penetration of enabling technologies such as high-speed broadband and wireless access. Many enterprises have shifted from point-to-point, ATM, and Frame Relay infrastructures to IP-based local- and wide-area networks (LAN and WAN) for basic business operations. Traditional voice carriers are migrating their voice network to IP-based transport to reduce or eliminate future capital expenditure (CAPEX) and operational expenditure (OPEX) related to redundant parallel network infrastructures. These IP-based technologies modify an application’s landscape by changing the use of the Internet from a client/server model to a more distributed model or peer-to-peer model. Very rapid and successful adoption of distributed applications such as Voice over Internet (VoIP), instant messaging, content sharing, and Internet gaming leads people with â€Å"always-on† and â€Å"always best† access to the Internet to be content producers as well as consumers. An expanded IP address space is necessary to support this paradigm change in the way the Internet is used† (Grossetete, Popoviciu, Wettling, 2008). IPV6 and VPN’s: Another advantage of IPv6 over IPv4 is the benefits it offers associated with VPN’s or virtual private networks. If you plan to implement a VPN or are currently running one, IPv6 will present new advantages. For example, in IPv6 it will be easier to implement a VPN because of the headers. IPv4 does not allow for multiple headers which creates a problem of compatibility within the firewalls of different vendors. IPv6 allows for multiple headers and eliminates this problem. Simply stated, this leads to faster routing. IPv6 and Networking: IPv6 creates a new platform that the Internet can operate on makes for the atmosphere of growth. One of the biggest advantages is the change from peer to peer networking to end to end networking. Peer to peer networking examples are VOiP, online video gaming, online video-conferencing etc. End to end networking allows for a group of computers to talk to each other without the need for process through a server first. That is a huge advantage! IPv6 and Better Node Configurations: Next, IPv6 trumps IPv4 because of node configurations. Every piece of equipment attached to a network must be configured properly and now it will be easier than ever with IPv6. This is because IPv6 offers automatic configuration versus the stateful configuration needed for IPv4. What does this mean you ask? It means that, â€Å"In stateless auto configuration, a host can automatically configure its own IPv6 address and does not need any assistance from a stateful address server. Entire IPv6 prefixes rather than just an address are delivered to a device. This particular feature enables routers to easily auto configure their interfaces and can be used very effectively in broadband access networks to dynamically provide customer gateways† (www. IPv6. com, 2011). IPv6 and the ease of administration: Another great advantage of IPv6 over IPv4 is the ease of administration. In IPV4, any new addressing must be done manually whenever there is a change to the network. With IPv6, you can now have numbering done automatically which makes for easier transitions in network changes of any sort. As you can see, the advantages of IPv6 over IPv4 are numerous. While there is much skepticism on how the transition with be costly and burdensome, it has actually been implemented already in various parts of the world. The earlier you start, the better off you will be should there be any kinds to iron out. This has to be a thoroughly planned event and takes time to changeover. IPv6 creates a new world of internet functionality and growth. Your business can flourish with the advantages of IPv6. As with any new technology, the price is typically higher in the beginning but the long run, you save money because your company is more efficient thus more profitable! â€Å"The improvement in network reliability would build the confidence of both enterprise and individual users in the integrity of network transactions. That would certainly yield high returns. † (IPv6: Its time, 2003).