Animal Emotions Essay -- essays papers

Animal EmotionsDo animals tactile sensation joy, love, fear, anguish or despondency? What ere emotions, and perhaps more than importantly, how do scientists prove animals are capable of emotion? Sea lion mothers have often been seen wailing painfully and squealing eerily as they watch their babies being eaten by killer whales. Buffaloes have also been observed sliding playfully across ice, excitedly screaming Gwaaa. Emotions are be broadly as psychological phenomena that help in behavioral management and control. This is a challenging question to researchers who are trying to determine the answer to this question. through and through current research by close observation combined with neurobiological research, evidence that animals exhibit fear, joy happiness, shame, embarrassment, resentment, jealousy, rage, anger, love, pleasure, compassion, respect, relief, disgust, sadness, despair, and grief is likely. Charles Darwin tell, The lower animals, like man, manifestly fee l pleasure and pain, happiness, and misery. I agree with Darwin. I believe animals do exhibit emotions, and denying that animals have emotions because the subject cannot be studied directly is not a sound explanation. mavin recent headline in the news showed an extraordinary event on film. When a three-year-old boy fell into a gorilla enclosure at the zoo, and was knocked unconscious. A female Gorilla named Binti Jua picked up the boy, and cradled him in her arms as if he was her own. The gorilla then gently carried the boy over to the caretakers limen and set him down. Did the gorilla feel empathy for the boy? By watching the film alone the gorilla seemed to show emotions for the boy, but without studying the animal neurobiologically scientists cannot understand how her emotions and cognitions were linked.One scientist, Damasio, provided an explanation how emotions can be felt in humans biologically. Damasio suggested, Various brain structures map both the organism and ex ternal objects to create what he calls a second order representation. This mapping of the organism and the object most likely occurs in the thalamus and cingulate cortices. A sense of self in the act of knowing is created, and the various(prenominal) knows to whom this is happening. The seer and the seen, the thought and the thinker are one in the same. By mapping the brain scientists can have a better understandi... ...ung children. He said A greylag goose that has lost its partner shows all the symptoms that John Bowlby has described in young human children in his famous book child Grief. . . the eyes sink deep into their sockets, and the individual has an overall drooping experience, literally letting their head hang. Elephants stand guard over a stillborn minor for days with their head and their ears hanging down like they were sad.The experiments and other data show that animals are not just driven by instincts alone. There is more to them than that. It is hard to w atch dogs play and believe that they derive no fun or pleasure from it at all. Animals have shown that they are sensitive to their social surroundings. They revenge one another and alleviate others pain. Some monkeys in established communities attack those that find food and dont share. These studies are important. A better understanding of how animals are feeling could create a whole new guideline of rules on the way animals should be treated. Humans should not be so arrogant to believe they are the only animals capable of emotion. How are we capable of seeing from their viewpoint and assume they feel no emotion.

Black & Decker Essay -- essays research papers

Question 1 B&D leads in two product segments, but trails in the third. Why?Answer It seems from the case that there are several reasons why B&D leads in Professional-Industrial and Consumer product segments, but trails in the Professional-Tradesmen segment. It is also clear from the tests performed by grisly & Decker that their products were at comparable, or nevertheless better at some cases, quality. Branded as Home Tools It appears that professional-tradesmen did non want to use the same tools that housewives used at bases (Black & Decker). Tradesmen viewed Black & Decker tools more for home use than being subjected to demands of the job site. This was a perception issue that was hurting Black & Decker big way.Distribution Channel It is also evident from the data (Exhibit 2) that Black & Decker lacked in capitalizing hotshot of the most profitable distribution channels i.e. Membership Club. On the other hand, Makita who distributed its product through membership clubs, in which Black & Decker did not take part in, proved to be very successful channel (85%) for Makita.Color I believe that the unremarkable grey color did not assist Black & Decker. The color was another factor that was strongly linked to the Black & Deckers image. The color factor was very clearly demonstrated by research lab tests and also by the comments from professional-tradesmen.Multiple Segments Black & Decker was involved with three different segments Professional-Industrial, Professional-Tradesmen, and Consumer. On the other hand, Makita (who entered the market in 1978) focused on only one segment of the market while B&D focused on three. Question 2 Describe the salient psychological features of the tradesmans get behavior (values & need states).Answer This is Tradesmen seem to believe that Black & Deckers brand is for Consumer use only. They are well aware of the brand, but regard it as the brand that is more suitable for the tools used at home.As Black & Decker holds about 45% of the consumer market, it has very good brand recognition. In a tradesmens mind the association of Black & Decker with consumer segment is so high that they feel that Black & Decker is for home use only and it is not rugged enough to be used professionally. NeedStrong tools, that can be used professionallyValue They ne... ...disassociation from Black & Decker brandIntroduction of a Black & Deckers one of the stable brands (DeWalt) that has no negative association DeWalt got 70 % awareness rating. This in turn means that Black & Decker will not have to spend property to establish a new brandDeWalt also achieved an One of the best agreement percentage of 63%Also scored 58% on the purchase vex by tradesmen in DaWalt-Serviced and Distributed by Black & DeckerConsIt seems that every one at Black & Decker takes a great pride in the 7 brand forcefulness position of the Black & Decker name. It will be a challenge to sell the option at Black & Decker.Linkage of aggressive objectives of doubling the Black & Deckers Professional-Tradesmen segment share from 9% to about 20%I strongly suggest that Joseph Galli should drop the Black and Decker name from the Professional-Tradesmen segment, sell the products in this category under the DeWalt brand and build more brand awareness for DeWalt

Capital Punishment :: essays research papers

--------------------------------------------------------------------------------Capital Punishment--------------------------------------------------------------------------------Should Christians support the death penalty? The answer to that question is controversial. Many Christians feel that the Bible has spoken to the issue, but others cogitate that the New will ethic of love replaces the Old Testament law. Old Testament ExamplesThroughout the Old Testament we find many cases in which perfection commands the use of capital penalty. We see this first with the acts of divinity fudge Himself. God was involved, either directly or indirectly, in the taking of look as a punishment for the nation of Israel or for those who threatened or harmed Israel. One example is the flood of Noah in generation 6-8. God destroyed all human and animal life except that which was on the ark. Another example is Sodom and Gomorrah (Gen. 18-19), where God destroyed the two cities because of the heinou s sin of the inhabitants. In the time of Moses, God took the lives of the Egyptians first-born sons (Exod. 11) and destroyed the Egyptian the States in the Red Sea (Exod. 14). There were also punishments such as the punishment at Kadesh-Barnea (Num. 13-14) or the rebellion of Korah (Num. 16) against the Jews wandering in the wilderness. The Old Testament is replete with references and examples of God taking life. In a sense, God used capital punishment to deal with Israels sins and the sins of the nations surrounding Israel. The Old Testament also teaches that God instituted capital punishment in the Jewish law code. In fact, the principle of capital punishment even precedes the Old Testament law code. According to Genesis 96, capital punishment is based upon a belief in the sanctity of life. It says, "Whoever sheds mans blood by man his blood shall be shed, for in the flick of God, He made man." The Mosaic Law set forth numerous offenses that were punishable by death. Th e first was murder. In Exodus 21, God commanded capital punishment for murderers. Premeditated murder (or what the Old Testament described as "lying in wait") was punishable by death. A second offense punishable by death was involvement in the occult (Exod. 22 Lev. 20 Deut 18-19). This included sorcery, divination, acting as a medium, and sacrificing to false gods. Third, capital punishment was to be used against perpetrators of sexual sins such as rape, incest, or homosexual practice. Within this Old Testament theocracy, capital punishment was extended beyond murder to hide various offenses.

Essay --

1.On April 22, 2013 a jury trial was planned for commence as the result of Timelines, Inc. suing Facebook, Inc. for trademark misdemeanor. Timelines, Inc. filed with the courts after nonicing that Facebook, Inc. added the new Timeline feature of speech to its section profiles. Facebook processed for a summary judgment, but the U.S. District Court for Northern District of Illinois turned down Facebooks motion for a summary judgment. The cerebrate they denied this motion is beca use up Facebook failed to prove that the word whileline was of sporty use, and that the term timelines was just a generic term. A ships company that moves for a summary judgment is trying to cede the time and expense of a full trial when the outcome is usually obvious. Since Timelines, Inc. has a registered trademark of the timelines phrase the court affirmed that they were entitled to a assertion of validity. If I were a member of the jury, I would rule in favor of Timelines, Inc. because Facebook went against the trademark laws, and was not able to prove that the phrase timeline was of passably use. Fair use quarter be proved only if the defense can prove that such use was for a purpose other than that normally made of a trademark. The party that is being charged with trademark infringement may defeat proceedings ONLY if it can prove a valid exception of fair use. If companies did not trademark their mark, multiple companies would use homogeneous marks causing consumer confusion about the origin of the defendants goods/services. As much as I love Facebook, I feel as though they alsok someone elses creation, and used their power to make the concept legendary. Trademark infringement is a impact of the exclusive rights attached to a trademark without the authorization of the tra... ... the duplication of the copyrighted work must be outside the exceptions. The combination, the lyrics and associated melodies, intonations, and usage are too similar to the original. This vi olates the copyright trademark laws, and it is protectable material. The puzzle pieces match knowing that the composers advisors, John and Charles, listened to her song in 2008, critiqued it, and told her it was best as a duet. Copyright infringement is the act of violating any of a copyright owners exclusive rights that were granted by the Federal Copyright Act. The only exceptions to the copyright law are fair use, face-to-face instruction, and virtual instruction. These exceptions allow someone to use work without permission from the copyright holder, and potentially paying fees. If Bowen wins the case, she could potentially receive the actual one dollar bill amount of the profits. Essay -- 1.On April 22, 2013 a jury trial was planned for commence as the result of Timelines, Inc. suing Facebook, Inc. for trademark infringement. Timelines, Inc. filed with the courts after noticing that Facebook, Inc. added the new Timeline feature to its member profiles. Faceboo k motioned for a summary judgment, but the U.S. District Court for Northern District of Illinois turned down Facebooks motion for a summary judgment. The reason they denied this motion is because Facebook failed to prove that the word timeline was of fair use, and that the term timelines was just a generic term. A party that moves for a summary judgment is trying to save the time and expense of a full trial when the outcome is usually obvious. Since Timelines, Inc. has a registered trademark of the timelines phrase the court affirmed that they were entitled to a presumption of validity. If I were a member of the jury, I would rule in favor of Timelines, Inc. because Facebook went against the trademark laws, and was not able to prove that the phrase timeline was of fair use. Fair use can be proved only if the defense can prove that such use was for a purpose other than that normally made of a trademark. The party that is being charged with trademark infringement may defeat proceeding s ONLY if it can prove a valid exception of fair use. If companies did not trademark their mark, multiple companies would use similar marks causing consumer confusion about the origin of the defendants goods/services. As much as I love Facebook, I feel as though they took someone elses creation, and used their power to make the concept legendary. Trademark infringement is a violation of the exclusive rights attached to a trademark without the authorization of the tra... ... the duplication of the copyrighted work must be outside the exceptions. The combination, the lyrics and associated melodies, intonations, and usage are too similar to the original. This violates the copyright trademark laws, and it is protectable material. The puzzle pieces match knowing that the composers advisors, John and Charles, listened to her song in 2008, critiqued it, and told her it was best as a duet. Copyright infringement is the act of violating any of a copyright owners exclusive rights that were g ranted by the Federal Copyright Act. The only exceptions to the copyright law are fair use, face-to-face instruction, and virtual instruction. These exceptions allow someone to use work without permission from the copyright holder, and potentially paying fees. If Bowen wins the case, she could potentially receive the actual dollar amount of the profits.

Should Euthanasia be Legalised Essay -- Papers

Should mercy killing be Legalised This essay go forth explore several different and varied opinions about whether or not euthanasia should be legalised. Euthanasia is the Greek word for easy death, but is often referred to as mercy killing. There are two main forms of euthanasia. Voluntary euthanasia is when a terminally ill patient expresses the wish to be euthenised. Active euthanasia is when a Doctor decides that it is in the best interest of the patient to be euthenised. All forms of euthanasia are illegal in Great Britain however in Holland, Switzerland, Oregon in the U.S and the northern territories of Australia, voluntary and assisted euthanasia has been legalised in recent years. for the first time most Religious groups are opposed to euthanasia, because it is seen as murder. Christians and Jews in particularly are against euthanasia because in the ten commandments it is written that you must not kill. In the Torah and the Bible it also reads th at humans are created in the image of God and in the Bible it also reads that Jesus died to save us. Christians and Jews base their views on euthanasia on these things in particular because they believe that only God has the right to decide when to end a life. On the other hand the Roman Catholic Church is of the Christian faith but they do ease up a slightly different opinion. Although they are very pro-life, they do not believe in pro-longing life by treatment which will prolong suffering. However the government is concerned that if euthanasia were legalised then the amount of suicides in our country will outset considerably. This has not been entirely proven in the few countries that have... ... of himself administering a lethal injection to a terminally ill man who wished to die. In final result I believe that voluntary euthanasia should be legalised because if you have a very poor quality of life then you should be able to have the right to en d it. I agree with the Roman Catholic opinion that there is no need to prolong life by treatment which will only prolong the suffering. I also think that only Doctors should be allowed to assist with euthanasia, otherwise euthanasia may be used lightly when it is not necessarily the only option. Until euthanasia is legalised there will continue to be unnecessary arrests of people who thought that they were helping, by euthenising terminally ill people who had petty or no chance of ever recovering from their illness, and may have had to suffer for a great deal longer.

Should Euthanasia be Legalised Essay -- Papers

Should Euthanasia be Legalised This essay will explore several(prenominal) different and varied persuasions about whether or not euthanasia should be legalised. Euthanasia is the Greek word for easy death, but is often referred to as blessing killing. There are two main forms of euthanasia. Voluntary euthanasia is when a terminally ill patient expresses the wish to be euthenised. Active euthanasia is when a Doctor decides that it is in the best interest of the patient to be euthenised. All forms of euthanasia are illegal in Great Britain however in Holland, Switzerland, operating theater in the U.S and the northern territories of Australia, voluntary and assisted euthanasia has been legalised in recent years. Firstly most Religious groups are opposed to euthanasia, because it is seen as murder. Christians and Jews in specially are against euthanasia because in the ten commandments it is written that you must not kill. In the Torah and the Bible it also reads that humans are created in the image of god and in the Bible it also reads that Jesus died to save us. Christians and Jews base their views on euthanasia on these things in particular because they believe that only God has the cover to decide when to end a life. On the other hand the Roman Catholic Church is of the Christian faith but they do build a slightly different opinion. Although they are very pro-life, they do not believe in pro-longing life by treatment which will prolong suffering. However the governance is concerned that if euthanasia were legalised then the amount of suicides in our country will rise considerably. This has not been entirely proven in the few countries that have... ... of himself administering a lethal injection to a terminally ill man who wished to die. In conclusion I believe that voluntary euthanasia should be legalised because if you have a very poor quality of life then you should be able to have the right t o end it. I agree with the Roman Catholic opinion that there is no need to prolong life by treatment which will only prolong the suffering. I also think that only Doctors should be allowed to assist with euthanasia, otherwise euthanasia may be used lightly when it is not necessarily the only option. Until euthanasia is legalised there will continue to be unnecessary arrests of people who thought that they were helping, by euthenising terminally ill people who had little or no chance of ever recovering from their illness, and may have had to suffer for a great deal longer.

English Renaissance Drama Essay

side of meat reincarnation drama grew out of the established gallant tradition of the mystery and morality plays. These public spectacles focused on unearthly subjects and were generally enacted by either choristers and monks, or a towns tradesmen (as later seen lovingly memorialized by Shakespe ars mechanicals in A Midsummer darknesss Dream).At the end of the fifteenth century, a new caseful of play appeared. These short plays and revels were performed at noble households and at court, especially at vacation times. These short entertainments, called Interludes, started the move away from the didactic nature of the earlier plays toward purely secular plays, and often added more comedy than was present in the medieval predecessors. Since approximately of these holiday revels were non documented and play texts have disappeared and been destroyed, the actual dating of the transition is difficult. The first extant purely secular play, heat content Medwalls Fulgens and Lucres, wa s performed at the household of Cardinal Morton, where the young Thomas More was serving as a page. Early Tudor interludes soon grew more elaborate, incorporating music and dance, and some, especially those by whoremaster Heywood, were heavily influenced by French farce.Not moreover were plays shifting emphasis from teaching to entertaining, they were also slowly changing focus from the religious towards the political. John Skeltons Magnyfycence (1515), for example, while on the face of it resembling the medieval allegory plays with its characters of Virtues and Vices, was a political satire against Cardinal Wolsey. Magnyfycence was so incendiary that Skelton had to move into the sanctuary of Westminster to endure the wrath of Wolsey.The first history plays were write in the 1530s, the most notable of which was John Bales queer Johan. While it considered matters of morality and religion, these were handled in the aerial of the Reformation. These plays set the precedent of pres enting history in the dramatic medium and laid the foundation for what would later be elevated by Marlowe and Shakespeare into the English History Play, or Chronicle Play, in the latter part of the century.Not whole was the Reformation taking hold in England, just now the winds of Classical Hu spellism were sweeping in from the Continent. Interest grew in the classics and the plays of classical antiquity, especially in the universities. Latin texts were being Englysshed and latin poetry and plays began to be commensurate into English plays. In 1553, a master copy named Nicholas Udall wrote an English comedy titled Ralph Roister Doister based on the traditional Latin comedies of Plautus and Terence.The play was the first to introduce the Latin character type miles gloriosus (braggart soldier) into English plays, honed to perfection later by Shakespeare in the character of Falstaff. Around the same time at Cambridge, the comedy Gammer Gurtons chevvy, possibly by William Stevens o f Christs College, was amusing the students. It paying closer attention to the structure of the Latin plays and was the first to adopt the five-act division.Writers were also developing English tragedies for the first time, influenced by Greek and Latin writers. Among the first forays into English tragedy were Richard Edwards Damon and Pythias (1564) and John Pickerings New Interlude of Vice Containing the History of Horestes (1567). The most potent writer of classical tragedies, however, was the Ro valet playw by rights Seneca, whose bestows were translated into English by Jasper Heywood, son of playwright John Heywood, in 1589. Senecas plays incorporated rhetorical speeches, parenthood and violence, and often ghosts components which were to figure prominently in both Elizabethan and Jacobean drama.The first prominent English tragedy in the Senecan mould was Gorboduc (1561), written by ii lawyers, Thomas Sackville and Thomas Norton, at the Inns of Court (schools of law). Apart from following Senecan conventions and structure, the play is most important as the first English play to be in blank verse. Blank verse, non-rhyming lines in iambic pentameter, was introduced into English literature by sonneteers Wyatt and Surrey in the 1530s. Its use in a work of dramatic literature paved the way for Marlowes mighty line and the exquisite poetry of Shakespeares dramatic verse. With a new ruler on the throne, Queen Elizabeth I, who enjoyed and encouraged the theatrical arts, the lay out was set for the body of dramaticliterature we today call Elizabethan Drama.The Social and Political ClimateIn 1600, the city of London had a population of 245,000 quite a little, twice the size of Paris or Amsterdam. Playwriting was the least personal form of writing, but clearly the most bankable for literary men since the demand was so dandy 15,000 people attended the playhouses weekly. What is often exploited in the plays is the tension amidst a Court conclusion and a comme rcial culture, which in turn reflected the tension between the City government and the Crown. The period from 1576 (date of the first public theatre in London) to 1642 (date that the Puritans closed the theatres) is alone(predicate) in its output and quality of literature in English.The monarchy rested on two claims that it was of divine origin and that it governed by consent of the people. The period was one of great transition. This period of history is generally regarded as the English Renaissance, which took place approximately 100 years later than on the continent. The period also coincides with the Reformation, and the two eras are of course mutually related.Imposed upon the Elizabethans was a social hierarchy of tell and degreevery much medieval concepts that existed more in form than in substance. The society of Shakespeares time had in many ways broken free of these sternities. It was not that people were rejecting the past rather, a new more rigid order was replacing th e old. This was set into motion during Henry VIIIs reign in the 1530s when he assumed more power than had hitherto been cognise to the monarchy. The Act of Supremacy of 1534 gave to Henry the power of the Church as well as temporal power.By Shakespeares time the state had asserted its right in attempting to gain authority in secular and spiritual matters alike. The so-called Tudor myth had sought to justify actions by the crown, and selections for the monarchy, as God-sanctioned to thwart those decisions was to sin, because these people were selected by God.The population of the City quadrupled from Henry VIIIs reign to the end of Shakespeares life (1616), thus adding to the necessity for civil control and law. The diarrhea of the monasteries had caused much civil unrest, and the dispossessed monks and nuns had been forced to enter the work force. Thus the lend oneselfment, or unemployment, problem was severe.Puritanism, which first emerged early in Elizabeths reign, was a nonage force of churchmen, Members of parliament, and others who felt that the Anglican Reformation had stopped short of its final stage. Puritans used the Bible as a guide to conduct, not simply to faith, but to political and social life, and since they could read it in their own language, it took on for them a greater importance than it had ever held. They stressed particularly the idea of remembering the Sabbath day. The conflict between the Puritans and the players of the theatrewho performed for the larger crowds that would turn out for productions on the Sabbathwas established early.The Elizabethan WorldviewThe English Renaissance began with the importation of Italian art and philosophy, Humanism, during the reign of Henry VIII. Henry Howard, Earl of Surrey, imported and translated classical writings, such(prenominal) as Virgils Aeneid, the first English work to use Blank Verse. Surrey and Sir Thomas Wyatt in their sonnets also imitated classical writers such as Petrarch, and are credited as Fathers of the English Sonnet.While the Great Chain of Being (an idea suggested from antiquity all that exists is in a created order, from the utmost possible grade to perfection, God Himself) was still asserted, the opposite, the reality of disorder, was just as prevalent. Not surp rising slopely, a favorite metaphor in Shakespeares plant life is the universe upside down, much as Hamlet presents.The analogical mode was the prevailing intellectual concept for the era, which was inherited from the Middle Ages the analogical habit of mind, with its correspondences, hierarchies, and microcosmic-macrocosmic relationships,survived from the Middle Ages to the Renaissance. Levels of existence, including humans and cosmic, were habitually correlated, and correspondences and resemblances were perceived everywhere. Man was a mediator between himself and the universe. An analogy of being likened man to God however, the Reformation sought to transmit this view, emphasizing mans fallen nature and darkness of reason. The analogy can be seen in the London theatre, correlating the disparate planes of earth (the stage), hell (the cellarage), and heaven (the heavens, projecting higher up the top of the stage). Degree, earlierity, and place were afforded all elements, depending on their distance from perfection, God.Because he possessed both person and body, man had a unique place in the ambitthe extremes of human potential are everywhere evident in the drama of the English Renaissance. Natural degeneration, in contrast to our optimistic idea of progress, was everywhere in evidence toothe primitive Edenic golden age was irrecoverable, and the predicted end of the realism was imminent. With changes in the ways that man looked at his universe, disturbing discoveries suggested mutability and corruption the frighten effect of new stars, comets, etc., added to a pessimism that anticipated signs of decay as apocalyptic portents of approaching universal dissoluti on.Hierarchically, the human soul was one-thirdfold the highest, or rational soul, which man on earth possessed uniquely the sensual, or appetitive soul, which man shared with bring down animals and the lowest, or vegetative (vegetable nutritive) soul, concerned mainly with reproduction and growth. The soul was facilitated in its work by the bodys three main organs, liver, heart, and brain the liver served the souls vegetal, the heart its vital, and the brain its animal facultiesmotive, trail virtues, etc.Man himself was formed by a natural combination of the four elements the dull elements of earth and waterboth tending to fall to the warmness of the universeand air and fireboth tending to rise. When the elements mixed they shaped mans temperament. Each element possessed two of the four primary qualities which combined into a humour or human temperament earth (cold and dry melancholy), water (cold and moist phlegmatic) air (hot andmoist sanguine) fire (hot and dry choleric). h andle his soul and his humours, mans body possessed cosmic affinities the brain with the Moon the liver with the planet Jupiter the spleen with the planet Saturn. Assigned to each of the stars and the field of operation of fixed stars was a hierarchy of incorporeal spirits, angels or daemons. On earth, the fallen angels and Satan, along with such occult forces as witches, continued to tempt man and get going him on to sin.Familiar to Shakespeare and his contemporaries were the Aristotelian four causes the final cause, or purpose or end for which a change is made the efficient cause, or that by which some change is made the material cause, or that in which a change is made and formal cause, or that into which something is changed. Renaissance concern with designer may be seen in Polonius laboring of the efficient cause of Hamlets madness, For this effect defective comes by cause (2.2.101-03).In the Aristotelian view, change involves a unity between potential matter and actualized form. Change is thus a process of becoming, affected by a cause which acts determinately towards a goal to produce a result. Implicit in the Elizabethan worldview was the Aristotelian idea of causation as encompassing potentiality and act, matter and mind. The London dramatists pre-Cartesian universe, indeed, tended to retain a sensation of the purposefulness of natural objects and their place in the divine scheme.Towards the mid- 17th century a major cleft between the medieval-Renaissance world-view and the modern world view took place, effected by Renee Descartes (1596-1650). Cartesian dualism separated off mind from matter, and soul from bodynot a new idea, but reformulated so that the theologians doctrines became the philosophers the problems of foreordination were suddenly the problems of Determinism.For Descartes, all nature was to be explained as either thought or extension hence, the mind became a purely thinking substance, the body a soulless mechanical system. Descartes philosophy held that one can recognize only onesown clear and distinct ideas. Objects are important only insofar as man brings his own judgments to bear upon them. Cartesian skepticism and subjectivism led to the rejection of the previous centuries Aristotelian perspectives, as meaningless or obscure. According to Aristotle, to know the cause of things was to know their nature.For the Middle Ages and the Renaissance, objects influenced each other through mutual affinities and antipathies. Elizabethans accepted the correspondences of sympathies and antipathies in nature, including a homeopathic notion that like cures like. Well into the seventeenth century, alchemical, hermetical, astrological, and other pre-scientific beliefs continued to exert, even on the minds of distinguished scientists, a discernible influence.Concerned with the need to believe, in an age of incipient doubt, theatre audiences often witnessed in tragedies such struggles to sustain belief Hamlet has a need to tr ust the Ghost Lear has a wracked concern for heavenly powers and Othello feels a desperate necessity to redeem his belief in Desdemonawhen I love thee not, / Chaos is come again (3.3.92-3). For Othello and Lear, belief is sanity.Theologically, in the later sixteenth century, divine providence seemed increasingly to be questioned, or at least to be regarded as more bafflingly inscrutable. The medieval sense of security was in a process of transformation. Those changes coincided with such circumstances as the Renaissance revival of Epicureanism, which stressed the indifference of the powers above to mans concerns. In its place was a special personal power, which was emphasized in the works of Machiavelli (1469-1527) and other Renaissance writers.Such changes in the relations of man and his deity inevitably provided a climate for tragedy, wherein both divine justice (as in King Lear) and meaningful action (as in Hamlet) seemed equally unattainable. Lear appears to question the forces above mans life, and Hamlet the powers beyond his death. Hamlets task is further complicated, for example, by his meaninglessquest for actionfrom a Reformation standpointof works toward salvation. The path to salvation, of great concern to most Elizabethans, was not through works or merit but by inscrutable divine election.The post-Reformation man, alienated from the objective structure of the traditional Church, as well as from the release of the confessional, with a heavy-laden and isolated conscience, turned his guilt inward.The Renaissance epistemological crisis emphasized the notion of the relativity of perception, present in the appearance-versus-reality motif recurrent through Renaissance drama. The Renaissance dramatists works mark a transition between absolute natural law bestowed by God, and relativistic natural law, recognized by man.The PlayhousesThe old Medieval stage of place-and-scaffolds, still in use in Scotland in the early sixteenth century, had fallen into disuse the kind of temporary stage that was dominant in England about 1575 was the booth stage of the marketplacea small rectangular stage mounted on trestles or barrels and open in the sense of being surrounded by spectators on three sides.The stage proper of the booth stage generally measured from 15 to 25 ft. in comprehensiveness and from 10 to 15 ft. in depth its height above the ground averaged a bout 5 ft. 6 in., with extremes ranging as low as 4 ft. and as high as 8 ft. and it was backed by a cloth-covered booth, usually open at the top, which served as a tiring-house (short for attiring house, where the actors dressed).In the England of 1575 there were two kinds of buildings, designed for functions other than the acting of plays, which were adapted by the players as temporary outdoor playhouses the animal-baiting rings or game houses (e.g. Bear Garden) and the inns. Presumably, a booth stage was set up against a wall at one side of the yard, with the audience standing in the yard surrounding the stage on three sides. Out of these natural playhousesgrew two major classes of permanent Elizabethan playhouse, public and private. In general, the public playhouses were large outdoor theatres, whereas the private playhouses were smaller indoor theatres. The maximal capacity of a typical public playhouse (e.g., the Swan) was about 3,000 spectators that of a typical private playhouse (e.g., the uphold Blackfriars), about 700 spectators.At the public playhouses the volume of spectators were groundlings who stood in the dirt yard for a penny the remainder were sitting in galleries and boxes for two pence or more. At the private playhouses all spectators were seated (in pit, galleries, and boxes) and paid sixpence or more. In the beginning, the private playhouses were used exclusively by Boys companies, but this distinction disappeared about 1609 when the Kings Men, in residence at the bollock in the summer, began using the Blackfriars in winter.Originally the priv ate playhouses were found only within the City of London (the Pauls Playhouse, the First and Second Blackfriars), the public playhouses only in the suburbs (the Theatre, the Curtain, the Rose, the Globe, the Fortune, the Red Bull) but this distinction disappeared about 1606 with the opening of the Whitefriars Playhouse to the west of Ludgate.Public-theatre audiences, though socially heterogeneous, were drawn mainly from the lower classesa situation that has caused modern scholars to refer to the public-theatre audiences as popular whereas private-theatre audiences tended to consist of gentlemen (those who were university educated) and nobility select is the word most usually opposed to popular in this respect.James Burbage, father to the famous actor Richard Burbage of Shakespeares company, built the first permanent theatre in London, the Theatre, in 1576. He probably merely adapted the form of the baiting-house to theatrical needs. To do so he built a large round structure very muc h like a baiting-house but with five major innovations in the received form.First, he paved the ring with brick or stone, thus paving the pit into ayard.Second, Burbage erected a stage in the yardhis manakin was the booth stage of the marketplace, larger than used before, with posts rather than trestles.Third, he erected a permanent tiring-house in place of the booth. Here his chief model was the passage screens of the Tudor domestic hall. They were modified to withstand the weather by the insertion of doors in the doorways. Presumably the tiring-house, as a permanent structure, was inset into the found of the playhouse rather than, as in the older temporary situation of the booth stage, set up against the frame of a baiting-house. The gallery over the tiring-house (presumably shared out into boxes) was capable of serving variously as a Lords room for privileged or high-paying spectators, as a music-room, and as a set for the occasional performance of action above as, for exampl e, Juliets balcony.Fourth, Burbage built a cover over the rear part of the stage, called the Heavens, supported by posts rising from the yard and surmounted by a hut.And fifth, Burbage added a third gallery to the frame. The theory of origin and development suggested in the preceding accords with our chief pictorial stem of information about the Elizabethan stage, the De Witt drawing of the interior of the Swan Playhouse (c. 1596).It seems likely that most of the round public playhousesspecifically, the Theatre (1576), the Swan (1595), the First Globe (1599), the Hope (1614), and the Second Globe (1614)were of about the same size.The Second Blackfriars Playhouse of 1596 was designed by James Burbage, and he built his playhouse in the upper-story Parliament Chamber of the Upper Frater of the priory. The Parliament Chamber measured 100 ft. in length, but for the playhouse Burbage used only two-thirds of this length. The room in question, after the remotion of partitions dividing it i nto apartments, measured 46 ft. in width and 66 ft. in length. The stage probably measured 29 ft. in width and 18 ft. 6 in. in depth.The Staging ConventionsIn the private theatres, act-intervals and music between acts were customary from the beginning. A music-room was at first lacking in the public playhouses, since public-theatre performances did not originally employ act-intervals and inter-act music. About 1609, however, after the Kings men had begun performing at the Blackfriars as well as at the Globe, the custom of inter-act music seems to have dispel from the private to the public playhouses, and with it apparently came the custom of using one of the tiring-house boxes over the stage as a music-room.The drama was conventional, not realistic poetry was the most obvious convention, others included asides, soliloquies, boys playing the roles of women, battles (with only a few participants), the daylight convention (many scenes are set at night, though the plays took place in m id-afternoon under(a) the sky), a convention of time (the clock and calendar are used only at the dramatists discretion), the convention of eavesdropping (many characters overhear others, which the audience is stool to but the overheard characters are not), and movement from place to place as suggested by the script and the audiences imagination.Exits were strong, and when everyone departed the stage, a change of scene was indicated. in that respect was relatively little scenery. Scenery was mostly suggestive for example, one or two trees standing in for a whole forest. The elaborate costumesfor which companies paid a great deal of moneysupplied the color and pageantry. Minimal scenery and limited costume changes made the transitions between scenes lightning-fast and kept the story moving.There was often leap before and after the playat times, during, like the peasants dance in Shakespeares Winters Tale. Jigs were often given at the end of performances, a custom preserved still today at Shakespeares Globe. The jigs at the theatre were not always mere dances, they were sometimes comprised of songs and bawdy knockabout farces modify with commentaries on current events. Perhaps the most famous jig was the one performed by Will Kemp, the goose in Shakespeares company, over a guild day period in 1599, onthe road from London to Norwich. It was published in 1600 as Kemps nine daies wonder. After 1600, the bawdy jigs fell into derision and despite and were only performed at theatres such as the Red Bull, which catered to an audience appreciative of the lowest humor and most violent action.The clowns were the great headliners of the Elizabethan stage prior to the rise of the famed tragedians of the late 1580s, such as Edward (Ned) Alleyn and Richard Burbage. Every company had a top clown along with the tragedianhakespeare company was no exception Richard Tarleton was the clown until his death in 1588, Will Kemp was the clown until forced out of the company in 1 599, to be replaced by another famous clown, Robin Armin. The clowns not only performed the aforementioned jigs, but also played many of the great comic characters Kemp most likely played Peter in Romeo and Juliet and Dogberry in Much bunko About Nothing, Armin the parts of Feste in Twelfth Night and the Fool in King Lear.From contemporary documents, we know there were over a thousand actors in England between 1580-1642*. Most were poor, starving actors, but a few dozen were able to make names for themselves and become shareholders in their respective companies, and make a good living. The repertory system was demanding esides playing six days a week, a company would be in continual rehearsal in order to add new plays and to refresh old ones in their schedule. A player would probably deal a new role every week, with thirty to 40 roles in his head. No minor feat, especially considering that an actor would only get his lines and cues (in a rolled up parchment, his roll, from which we get the word role), not a whole script Over a period of three years, a tragedian such as Edward Alleyn, lead player for the Admirals Men, would learn not only fifty new parts but also retain twenty or more old roles.

Changes and continuities of Roman empire Essay

Between 500 BCE and 500 CE, the Roman civilization go through changes both politically and culturally. Firstly, capital of Italys govern workforcet transitioned from a majority rule to an Empire. Later, that pudding stone was split into devil parts east and westside. In terms of changes in culture, it was impacted by the shift in religion, as the Romans shifted from polytheism to monotheism. Despite all the changes, Rome still remained culturally diverse. The Romans overthrew the Etruscans in 509 B.C.E. The Etruscans had chemical formulad over the Romans for hundreds of years. Once free, the Romans constituted a republic, a government in which citizens elected representatives to rule on their behalf. The highest positions in the government were held by two consuls who ruled the Roman republic.A senate dispassionate of Patricians elected these consuls and at this time, lower-class citizens, or plebeians, had virtually no say in the government. Both men and women were citizens in the Roman Republic, but only men could vote. Under certain circumstances, the senate and the consuls could appoint a temporary dictator to rule for a limited time until the crisis was resolved. One of the innovations of the Roman Republic was the notion of comparability under the law. In 449 B.C.E., government leaders carved some of Romes most important laws into 12 great tablets. During the last three centuries of the republic, Rome experienced a long series of civil warfares, economic as well as political issues, and civil crisis caused by the dictatorship of Julius Caesar. After Caesars death, another civil war broke out destroying what was left of the Roman republic.Caesars adopted son, Octavian, joined forces with a general named jell Antony and a politico named Lepidus. They took moderate of Rome for ten years as the Second triumvirate. The alliance ended in violence and jealousy. Octavian forced Lepidus to retire and then became rivals with Mark Antony. Octavian believ ed Mark Antony was plotting to rule Rome from Egypt, and another civil war erupted. Octavian defeated Antony and became the unchallenged ruler of Rome. Rome was at the height of its power from the start of Augustuss rule in 27 B.C to 180 A.D. For 207 years, peace and prosperity resided over the Roman Empire, k at a timen as the Pax Romana. During this time, the pudding stone fiesta 3 million form miles, and its population was between 60 and 80 million. The borders were also stable, since thither were not any wars going on between Rome and other civilizations.Since Rome was now an empire, this meant that the government would now be ruled by a single emperor instead of twoconsuls. Since one person was in full control instead of two, so there was no conflict over power, and there was no need for citizens to constantly elect people to rule. However, during Octavians reign he set up a civil service system. He paid workers to manage the affairs of government. Although the senate still functioned, civil servants from the plebeians and even former slaves actually administered the empire. The Romans were to a great extent influenced by the Greeks in various ways. One facet being religion, the Romans were polytheistic due to Greek influence and worshipped many of the analogous gods. The classical Greek and Roman gods rewarded excellence over mediocrity and did not truly offer any sort of meaningful after- life story. However, most 300 CE a unexampled religion started to spread throughout Rome.This new religion being Christianity, a monotheistic religion, and a religion that believed that there was life after death and hailed Jesus as the son of God as well as the incarnation of God. In regards to life after death in the Christian religion, as long as you followed the faith and lived a virtuous life doing good deeds you would be rewarded heaven. But if one has led a life of sin, they would be doomed to spend the afterlife in hell. Those meek and seen as inferior i n the Roman empire, the poor, slaves, and women felt elevated and empowered as everyone is fitting in the eyes of God, in Christianity. When Christianity began to emerge, it was largely disliked as Christians refused to take part in the worship of emperors as the Romans did. It was this refusal that caused its practice to be illegal and those who chose to charge with the faith were prosecuted. Although people were being killed for practicing, Christianity started to become even more popular.After seeing Christian martyrs risk their lives for the sake of Christianity, many Romans were compelled and attracted to the faith. Also, there were Apostles who traveled around the empire spreading the message of Christianity. Then in 312 CE, Emperor Constantine proposed the Edict of Milan that banned all laws against Christianity. That allowed people to freely worship, without the fear of harsh punishment. He last converted on his deathbed. Then in 392 CE, Emperor Theodosius made Christiani ty the official religion of Rome. Christianity went from being an illegal religion to the official religion of the Roman Empire. At the height of its power, Rome controlled the greatest empire ever seen in Europe at that time. Many of the conquered nations benefitedfrom Rome. Roman public baths, roads, water supplies, all appeared in Hesperian Europe. The sheer size of the empire was a major reason for the collapse of Rome.In AD 284, the Emperor Diocletian divided the Roman Empire in two parts to make it easier to rule. He created the Western Empire and the Eastern Empire, each with its own leader. Diocletian faced more than just administrative problems. More and more military defenses had to be built across the whole empire. Maintaining an army to defend the border of the Empire from barbarian attacks was a constant drain on the government. Military spending left few resources for other vital activities, such as providing public housing and maintaining quality roads and aqueduct s. Frustrated Romans lost their desire to defend the Empire. The empire had to begin hiring soldiers recruited from the unemployed city mobs or worse from foreign countries. Such an army was unreliable and very expensive. The emperors were forced to raise taxes and coin more notes frequently which in turn led again to increased inflation. To add to that in AD 307, Constantine became emperor.He moved the capital of the empire to a new city Constantinople. Constantinople was much further east than Rome and firmly in the eastern empire. This left the western empire very vulnerable to attacks. The eastern empire was closer to the rich soil fertile crescent and was much easier to defend. The west began to deteriorate and went through what was known as a Dark Age. During this time there were no advances in technology, there was turmoil throughout the empire, and literacy declined dramatically. The Roman Empire went from being a thriving world power to two fragmented empires, with the wes t doing awful and the east maintaining some resemblance of its former glory. Despite the fact that Rome faced numerous changes throughout the centuries it still remained culturally diverse. The start of the Republic was shaped around many cultures. The idea for arches were taken from the Etruscans. The language was derived form the Latin speaking people in the area.The religion, literature, and architecture were influenced by the Greek. During the heights of the empire, war was still ever present. The influence of Rome was spreading to nearby territories and new land was acquired. With the increase in land and population it was only natural for the spread of new ideas to occur. The emergence of Christianity would prove to be a defining feature of the Roman Empire. The fall of the empire produced two weaker halfs of a one timeformidable empire. The western side of the empire retained the Latin language and the eastern side chose Greek instead. The resulting wars with neighbors and i nflux of refugees contributed even more to exchange of languages and cultures. From the set about of Republic, to the expanding empire, to the halves east and west, Rome remained multi-cultural.Ancient Rome went through dramatic changes from 500 BCE to 500 CE. It first underwent a change of government shifting from a republic to an empire. Rome then changed culturally, from being polytheistic and believing in the Greek gods, to being monotheistic and believing in one deity and adhering to the guidelines of Christianity. Furthermore in 476 CE, the Roman Empire collapsed and split into two parts, and was governed by two emperors. Although Rome encountered a these alterations it still remained a multi-cultural civilization.

Corporate Governance In Australia Essay

INTRODUCTION corporal institution is the process by which the integrated can implement technical decision making, appropriate resource on the wholeocation, and involve in strategic planning. It concentrates on how objects of are laid down and attained, how risk is watched and evaluated and how performance are maximized. collective nerve helps corporations to construct value through in noneation, provide accountability and to implement proper control system to quantify the risk involved.Corporate government has become more relevance to determine the speak to of capital in a global capital trade. So as to facilitate the Australian companies to compete internationally and to salvage and promote investors reliability both in Australia and overseas, corporate system is to ensure to review those practices to reflect both local and international developments and position.Corporate nerve must be evolutionary and receptive to the information requirements of local and internatio nal investors.In Australia, Corporate governance has been defined by two chief guides that is to say Corporate Practices and Conduct issued by the Bosch Committee in 1995 and A guide for Investment Managers and Corporations issued by IFSA in 1997 and as well by ASX publications and the Australian Institute of Directors. virtually definitions on corporate governance refer principal(prenominal)ly the followingThe devise by which companies are controlled and directed andThe devise by which those who control and direct a company are supervised. FUNDAMENTALS OF CORPORATE GOVERNANCETo explain the functions of the management and the circuit board clearly.The Board is vested with a balance of skills and liberty.More emphasis on the satin flower on decision acquitrs on corporates plan and fiscal performance.To inform weeklyally the investors the important happenings in corporate financial activity and enhances the legality of the corporate reporting.To report all material factors in time and with a matured outlook.The shareholders rights shall be clearly acknowledged and to be honored. crease decisions with inherent risk and uncertainty is to be handled with proper internal control.To cope with the modern risks of business, introduction of formal mechanisms to enhance boards and managerial effectiveness. worthy rewarding system should be designed to attract skills required to achieve the result anticipated by shareholders. unsloped governance takes care of the interest of all stakeholders .In Australia, relevant revealings are do in a separate corporate governance section of the annual report of a company. Australian Corporate Act requires certain information is to be included in the theatre directors report and these informations can be included in the corporate governance section in the annual report of the corporation.The principal(prenominal) general salient features of corporate governance codes areIt is the way of guaranteeing that the implementation of economic power by the corporate empyrean.Board of Directors of a corporation has inherent managerial and supervisory function.It ensures that there is a demarcation between managerial and supervisory roles. It includes the separation of the stance of the Chairman and CEO, the installation of independent directors, formation of committees of Board like remuneration, audit, share transfer etc.Major codes of the corporate governance deals with disclosures to shareholders more particularly directors remuneration, superlative executive remuneration, independence of directors and shareholding pattern etc.Thus corporate governance is aimed at the maximization of shareholders wealth and to protect their interests. While the corporate governance is helpful to instill confidence on investors and at the same time if there are grave governance deficiencies, the investors may shun the shares of person companies, a section of groceryplaces or even national capital markets.Westpac Bankin g corporation of Australia has not only stood top of the Australian corporate governance league rush in 2004 yet also only the bank on international level to enter into the global top 20 corporates as appraised by disposal Metrics International , an International rating agency.1The annual IR Magazine Australia awards for 2005 had been awarded to the following Australian companies for their best corporate governance in investor relations by ASX 100 company viz. ANZ , BHP Billion , Blue Scope Steel, and Stock land.2 COMPARISON BETWEEN CORPORATE GOVERNANCEANDCORPORATE RESPONSIBILITIESThe recent scandals in US like Enron, WorldCom, and Adelphia has compelled the governments crossways the world to promulgate enhanced legislation, improved corporate codes and corporate boards suck in been re-balanced to have more independent directors.Corporate responsibility is nothing but the generation of governance beyond simple compliance to squeeze wider social values. A recent survey finds th at of late more business heads and corporate investors are factorization corporate responsibility into their decision making process.Thus the corporate responsibility has become vital or pivotal consideration in investment decisions. As per views of business heads, corporate responsibility should include honorable staff behavior, good corporate governance and transparency where as for investors, transparency, good corporate governance and ethical staff behavior were the top most concern. Further it is revealed that corporate responsibility could augment corporates bottom line and resulted in intangible advantages of soft touch enhancement and better staff morale but it has disadvantages also like unproven business benefits and high cost involved .The Role of ASIC (Australian Securities & Investment Commission) in corporate governanceThe ASIC mainly supervises and enforces compliance with the various provisions of the Australian Corporations Act that are devised to control and infl uence the exercise of power by top managers and directors. The major supervision provisions include duties of directors, general meetings of the company shareholders, and transactions with the related parties.But the full compliance by the corporates can not be possible unless there exists adequate enforcement mechanism. Hence support of the government is needed for the enforcement mandate of their securities market.ASIC has successfully through its various ranges of enforcement measures have brought a series of civil, administrative and criminal actions to bring accountability to wrongdoers.Former CFO of Harris Scarfe was sentenced to 6 year imprisonment in a criminal charges leveled against him by ASIC3. Likewise, civil penalty proceeding were initiated against in oneness depicted object directors of HIH. Court held that they recrudesceed their duties as directors low the Australian Corporations Act and debarred them to involve in the management of company personal business for 20 years and 10 years.Further, these erstwhile directors were directed to pay compensation of more than A $7 million and also Court imposed pecuniary penalties in each case.Further ASIC is contemplating actions in more than 200 cases most of which mainly concerned with issues relating to failed governance. Further, more than 69 persons were imprisoned for committing white collar crimes from 1999 to 2002.ASIC tries to enforce the corporate codes by compelling to make disclosures, the operation of exchanges (where itemisation arrangement also requires corporate governance compliances), the directives on audit and licensing of intermediaries. Comparison of Corporate authorities between regular army and Australia.In the post-Enron era, the main difference is the USAs perspective rule based approach and Australias more flexible principle-centered approach. Moreover, in Australia, there are array of posting of regulatory and other official standards for business. These includes Au stralian Corporation Act, regulatory guidelines such as ASX corporate governance councils best practice suggestions on corporate governance , regulatory ruling like ATO rulings ,regulatory guidelines like ASTC policy statements and practice notes, official standard-setting and judicial pronouncements. iMost of SOX provisions are identical to Australian laws and regulations such as CLERP 9 and the ASX corporate governance guidelines. Australias corporate governance guidelines are designed mainly for the Australian companies and its stock market and it is user-friendly.ASX corporate governance guidelines and CLERP 9 contains certain SOX governance conditions. It is to be noted that thought there is no 100% identical nature but its intent and objectives are more or less identical. There is a marked difference in approach between USA4 and Australia towards corporate governance as the former is adopting rule-based where as the latter(prenominal) is adopting principle-based approach. Aus tralian corporate governance is of suggestive in nature whereas USA is following prescriptive nature to governance matters. Thus the suggestive nature provides an in-built picnic to retort and adjust to local industry and market forces and too industry best practices.Though the objective of some US and Australian governance is identical, the expressions utilise are different thereby making strict compliance more complex.Further, relationships between Australian companies and their external attendees may be viewed by the SEC of USA as a violation of US auditor independence standards and may result in major penalties regardless the fact it complies with the Australian governance standards. This is to be considered if an Australian company is listed in the US. In the case of auditor independence, Australian general independence code is somewhat relaxed than the comprehensive list of specific preclusions under SOX.In US, in addition to annual and quarterly financial reports, a listed company has to file periodic reports on material off-balance sheet transactions. Further, it requires personal franchise by the CEO or CFO that reports do not include any untrue statements or material omissions and reporting of changes of ownership status. Under ASX listing rules and Corporations Act of Australia, a listed company has to file unbroken disclosures to instill confidence for investors and facilitate them to have timely access to price sensitive information which have an effect on corporates securities. Australian governance codes specify lesser specific responsibility on periodic reporting. Where as under SOX, periodic disclosure is easy to implement as it specifies what are to be to reported every financial quarter and not contemplating to report what is materially price-sensitive which has to be discover on continuously under ASX codes.Under US governance codes, stringent and rigid set of prohibitions are placed on external auditors and audit functions which is i n line with the US rules based approach. In contrast, CLERP 9 requires Australian public companies and their external auditors to exhaustive codes concerning auditor independence and fortifies existing auditor independence requirements through a recently introduced set of codes on auditor independence, periodic rotation of audit partners, placing restrictions on employment relations between the client and the auditor and imposing mandatory cooling off period before members of an audit firm can become a officer or director of the client. The main difference lies between Australian general independence test which is somewhat liberal than the specific preclusions under SOX.Under SOX, CEO or CFO has to acknowledge that they have reviewed the relevant financial report and it is not misleading or contain untrue informations and there exists enough internal controls. In Australia, CLERP 9 mandates that CFO or CEO should provide a written certification on financial statements which is to b e addressed to Board of Directors and not to the market itself. Thus the Board of directors assumes definitive authority by way of directors declaration made in accordance with the boards resolutions as a part of corporates annual financial report. ROLE OF DIRECTORS IN CORPORATE GOVERNANCE IN AUSTRALIAIn one of the study conducted by the Australian Council of topnotch investors reveals that about 61% of Non-executive directors appointed in 2005 in S&P / ASX 100 companies were found to be holding directorships with S&P / ASX 100 companies already in Australia .This shows that holding directorship in S&P / ASX 100 companies is the pre-qualification to act as NED in Australian companies.Study also reveals that there is steady plus in the appointment of NED in Australian companies. About 62% of female directors of ASX listed companies found to be holding more than one board as compared to an comely of 41% for males. Remuneration package for the NED services is on the increase and abo ut on average received about $ 154,170 in remuneration for directors service in Australia.Court decisions in Australia have detailed and explained what is required of a director.A director should have a fundamental objectives of the business in which the company is involved.A director should be aware of the recent happenings in the company and hence it becomes compulsory on the part of the director to attend the board meeting regularly.Directors should develop a familiarity with the financial status of the company and frequently review its financial reports.A director may be appointed as whole time director due to his expertise knowledge and in such events, he has the duty to evince attention to the companys affairs that might rationally be estimated to attract inquiry.A study conducted by UTS centre for corporate governance in Australia in June 2006 reveals that all the participating Australian companies in the study had included short biographies of their directors in their annual report as demanded by the Australian Corporations Act, 2001.The average size of the Board is 8 with stripped of 4 and the maximum of 14. Majority of board were comprises of independent, non-executive directors and almost only one executive director in the Board. The ASX study of corporate governance practice disclosure in 2005 revealed that about 47% of companies had not complied with inclusion of independent directors in the Board.As per ASIC report issued during October, 2006, it will check the companys ASX announcements in case if the company has a market cap of less $500m and if it is engaged in the mining, biotech or energy sectors. Further, ASIC is seriously considering its role to make sure that ASX announcements are correct and timely. As result of this, the directors responsibility towards corporate governance has become more accountable.While the ASICs authority to impose fines for breaches in the continuous disclosures is more relevant in forcing the corporations to ad here the governance standards, it is also toothed with other regulatory measures as per details given belowASX has recently quest that Cudeco to clarify its explorations results.A suit was initiated against Jubilee Mining NL for $1.8m by one of its shareholders for late disclosure.The federal Court imposed on Chemeq Ltd a $500,000 penalty plus cost for having botched to disclose the increase in cost of construction in its manufacturing facility and the lack of commercial significance of the grant of a US patent.In the case of ASIC v. HIH Insurance Ltd, Supreme Court of New South Wales found that there was violation by the directors and breach of duty under the corporations Act. Rodney Adler was found to breach his duty as director under section 180,181, 182, and 183 of the Australian Corporation Act and Dominic Fodera was found to be breached the section 180. Further the Court held that payment of $ 10 million to a related party violated the related party provisions as well as the Australian Corporation Act, 2001 dealing with the extending financial help in the purchase of its parents shares. CONCLUSIONSAustralian governance laws and regulations are not prescriptive in nature and instead they recognize that divers(a) governance structures coincide better for different entities. Since US have introduced tougher corporate governance codes, the Australia may follow the suit in very near future.In Australia, disclosure is required both periodic and on continuous basis. For instance, all listed companies to disclose well in advance the price sensitive information to the market operator who will then make it available to market participants.However there is lack of severe penalties in case of breaches for disclosure. Thus taking advantage to this loophole, most of the corporates want to avail this as a justification to shun disclosures.The Australian corporations should cope with the international developments on corporate governance. The board should be made awar e what is being happening in the overseas. Some argue that the corporate governance is nothing but a cultural issue and in achieving the governance, one has to battle with human nature every day.To obviate these breaches, it is recommended that ASIC should be toothed with more powers to levy administrative fines. This would definitely augment suppleness, cost-effectiveness and appropriateness of remedies. This will also strengthen the integrity of the law by offering an impartial remedy for conduct that is otherwise absent.It is reported that present disclosure obligations under listing rules is of doubtful in nature mainly pertaining to the continuous disclosure obligations. It is necessary to redraft the listing rules to explain the existing exclusions, transforming the balance in favor of disclosures in all but under short circumstances.With the template reviews advocated by the 2003 Uhrig Report which is well under consideration, it is necessary to pause and hold in mind that g overnance is a nitty-gritty to an end.Proper implementation of governance will contribute to social and economic welfare through efficiency, ethical behavior and competitiveness. It maximizes the profit in the private sector and it monitors the expenditure of pubic monies in public sector.It has become also need of the hour to reintroduce the obligation on the part of a company to oppose market rumors in specific situations. One has to take into cognizance non-accountability of press who publish false rumors thereby triggering movement of share price in the market which creates a not informed and uninformed market. Thus it has become corporates onus to intervene and to augment the markets state of knowledge.Thus the Corporate governance is the tool to redress the conflicts of interest between various role players in the industry and encourages them to share more responsibilities to adhere corporate accountability.1 http//www.iccwbo.org/corporate-governance/id3615/index.html2 Award s for best investor relations by Australian companies , JCN Newswires , Septemeber,19,2005.3 http//www.asic.gov.au/asic/ASIC.NSF/byid/B285C74C43B87CBBCA256FDC00818039?opendocument4 Dale, Luke, Australian Companies and Sarbanes-Oxley Governance regulations in a parallel universe, Publication, Keeping Good Companies.i Dale, Luke, Australian Companies and Sarbanes-Oxley Governance regulations in a parallel universe, Publication, Keeping Good Companies.Brada, Josef C., and Inderjit Singh. 1999. Corporate Governance in Central Eastern Europe Case Studies of Firms in Transition. Edited by Josef C. Brada, Saul Estrin, Josef C. Brada, Alan Gelb, Inderjit Singh, Josef C. Brada, Inderjit Singh, Saul Estrin, Xavier Richet, Josef C. Brada, and Inderjit Singh. Armonk, NY M. E. Sharpe.Francis, Ronald D. 2000. Ethics and Corporate Governance An Australian Handbook. Sydney, N.S.W. University of New South Wales Press.Hollingsworth, Kathryn, and Fidelma White. 1999. Audit, Accountability, and Governm ent. Oxford Clarendon Press.Power, Michael. 1997. The Audit Society Rituals of Verification. Oxford Oxford University Press.Sherman, Hugh, and Rajeswararao Chaganti. 1998. Corporate Governance and the Timeliness of Change Reorientation in 100 American Firms. Westport, CT Quorum Books.Stapledon, G. P. 1996. institutional Shareholders and Corporate Governance. Oxford Clarendon Press.Strathern, Marilyn, ed. 2000. Audit Cultures Anthropological Studies in Accountability, Ethics, and the Academy. London Bryan, Dick. 2000. The Rush to Regulate The Shift in Australia from the Rule of Markets to the Rule of Capital. Australian ledger of Social Issues 35, no. 4 333. Business Focus the Imperatives of Developing an Enterprise-Wide Risk Management and Governance Framework. 2004. Manila Bulletin, 21 June, NA. Cheverton, Jeff. 2005. Past Their Peak? Governance and the Future of Peak Bodies in Australia. Australian Journal of Social Issues 40, no. 3 427+. Des Horts, Charles-Henri Besseyre. 2002. Governance, Knowledge Creation, and Organizing An Afterthought. Human Resource Planning 25, no. 4 48+. Fort, Timothy L., and Cindy A. Schipani. 2003. Adapting Corporate Governance for Sustainable Peace. Vanderbilt Journal of Transnational Law 36, no. 2 377+. Gourevitch, Peter A. 2003. Political Determinants of Corporate Governance Political Context, Corporate Impact. Yale Law Journal 112, no. 7 1829+. Kay, John, and Aubrey Silberston. 1995. Corporate Governance. National Institute Economic refresh. Marks, Robert E. 2002. Corporate Governance, or Where Does Ownership Lie? Australian Journal of Management 27, no. 2 i+. Paredes, Troy A. 2004. A Systems Approach to Corporate Governance Reform Why Importing U.S. Corporate Law Isnt the Answer. William and Mary Law Review 45, no. 3 1055+. Vancea, Minodora D. 2003. Exporting U.S. Corporate Governance Standards through the Sarbanes-Oxley Act Unilateralism or Cooperation? Duke Law Journal 53, no. 2 833+.

Identify the cohort group Essay

I belong to the Cohort group called the Boomers. I am a loving mother of deuce kids, who wants to see and wishes my children to graduate from college. I am not just a full time student, but also a full time employee for a school system. I am a real diligent student who wants to finish school in the next three years, even if working ponderous as an employee only earns me a little more money, just barely enough for my familys living. I do value health very much(prenominal) and wishes to have a peace of mind.When it comes to working, I never waste a minute and I see to it that I am always on time. recognise my team members is a must for me and having a person-to-person interest in their welfare is also important for me. This probably has something to do with my instinct or feelings as a mother. My family strengthens me to work harder and gives me the enthusiasm when it comes to understanding and helping others. I am a hard-worker that I always have the strength to do my tasks as an employee and as a student, even if I just finished doing all the household chores.My good and strong educational background reinforces me to be dependable. You can always view on me whenever you have problems or worries, whether it may be about work, family, education or other personal issues. I am honest and trustworthy when it comes to issues and relationships that a lot of my co-workers and fellow students confide in me with ease. I wish to be successful not only as a mother, a student or a worker but an individual as a whole.I expect my work values to incorporate more balance when it comes to my work and personal life, though giving priority to my family more would also be possible and acceptable for me in the future. I also expect my work values to be flexible and be enhanced further to work out any obstacle that I might encounter in the next five or ten years.Reference Miller, G. (1998). Handbook of Research Methods in Public Administration. New York, USA Marcel Dekker Incorp orated.

Frankenstein, Blade Runner Context Essay

Good morning/ afterwardsnoon miss, today I will be speaking astir(predicate) the themes of two texts and the context in which they were written. The two texts Frankenstein and brand name Runner twain embody themes of science, creation and constitution that argon reflected in the authors lifespan and what was happening in the world around them. By examining Mary Shelleys life we nooky see many of the key themes of her time reflected in Frankenstein. The impertinent Frankenstein was written in 1818 and follows the story of a scientist, captain Frankenstein and his quest for creating life.However his experiment goes wrong as his creature goes on a rampage after he has been rejected. One theme from this novel that is part of Shelleys life is the populacey world. The theme of the sublime natural world was embraced by Romanticists such as Mary Shelley who, in their writing, glorify the natural environment. By showing nature as a powerful force it gives an idea that nature is a immense and controlling force, somewhat god like. Victor, depressed after the deaths of William and Justine for which he feels responsible for, heads to the mountains. A cold breeze upon my cheeks fills me with delight is a shortened quote from Victor which expresses his odours towards nature as a joyous one. The influence of nature on mood is evident throughout the novel and just like Victor feeling happy in the embrace of nature the monster also feels his heart lighten as spring arrives after a being abandoned in the cold winter. The weather became fine and the skies cloudless. Contrasting to Frankenstein that explores the beauty of nature, Blade runner explores how when the natural environment fades the consequences for both humans and the planet are terrible.Blade Runner is a film directed by Riddley Scott in 1982 and follows the story of a blade runner named Deckard as he sets out on destroying stylised humans known as replicants. In the 1980s many Americans, including Scott feared their country was in a great decline and depression of the war and industrialization. These somber themes are evident within the film. At the beginning of the film we see a montage of manmade buildings and structures that overwhelm the landscape as there are no natural elements.Symbolism is very important in this opening scene as we also see setting in the background, the sun. The sun setting symbolizes the end of the earth and that humans are entering into the dark. Rain in many parts of this film and is used as a visual metaphor to suggest that nature is crying for its destruction by humanity. The effect of this impression is that when nature dies everything will mourn. The setting of this post apocalyptic film is not the only thing that has been urbanised. more animals have been created artificially.When Deckard first goes to Tyrell he is shown an artificial owl, to which he responds must be expensive. The repetition of animals being artificial and expensive highlights t hat nothing natural dust and that nature has been taken over by commerce. Scott uses the animals as a symbol to represent how artificial the world has become. Another theme that is evident in both Frankenstein and Blade Runner is science and creation. Frankenstein was written in a period of technological furtherance where science was just beginning to take shape and the panorama of recreating life was evident.An event in Shelleys life that impacted her was the work of Luigi Galvani who discovered that the muscles of dead frogs legs twitched when struck by a electricity. This advancement leads Shelley to critique the ideals of science contrasting to the value of nature. Shelley is clear on her feelings about the use and abuse of technology. The reanimation of a man from the dead can be reclaimable so we can always be with loved ones, but what responsibility should we take once we bring people back from the dead?How far can we go in raising the dead without destroying the living? Shelley seems to portray the idea that man cannot handle beseeming like God without difficulty. Victor Frankenstein learns all he can about the field of science, both before, during, and after his work at the university and is continuously obsessed with creating life. The effect of uses a character obsessed with creating life, then afterwards rejecting it further shows how Shelley feels about miss using technology. Similarly to Frankenstein, Blade Runner also questions the values of science and creation.Scott created his film when industrialization and when technology is rapidly becoming part of everyday life. As the creator of the replicants, Tyrell simply creates the androids for money and power then immediately outcasts them. Scott makes the company of Tyrell seem very dark and large to strain his power within the city. Both Mary Shelley and Riddley Scott draw inspiration from the events and other themes that are impacting their life, whether it is nature, the advancement of t echnology or creation issues at the time of writing.

Accounting Standards Essay

INTRODUCTION accounting tireds be employed to piddle the diligence of story practice. The actual monetary position of the company can no(prenominal)prenominal) be presented accurately and precisely with adhering to the principles and standards. Due the evolution of time, the concept has changed to suit the require of the industry and is also continuously to ever-changing to needs. With rapid change and development of wealth, trade and technology, in that respect was a need to account the p atomic number 18ntage transaction repayable to intricacy mixed. Due to the mode of writing and numbers which facilitated the story process. It is accountants who helped in the development of economical and commerce by providing valuable services to the community.See much Satirical essay about drugs HISTORY AND phylogenesis OF write up STANDARDPacioli is being considered the father of the history. The first double entry book-keeping was unquestionable around 1200 B.C in Italy follo wed by first book on double entry was written by Luca Pacioli in 1494. Due to the advent of Industrial Revolution around 1750, telephone draw in expanded rapidly which catapulted mass transportation, invention of refreshing products and new grocery stores, development of capital markets and as the result, the map of accountant become inevitable to any industry.As development of trade grows, the need for professional accountants also nurtured in a fast pace. Society of Accountants was established in 1854 in Edinburg which was accorded a royal look at which recognized the professions role in the trade and commerce. In U.S, the first such professional society was the American Association of Public Accountants, undertake by the press out of New York in 1887. Cost accounting was developed to augment the efficiency in the manufacturing Units. Management Accounting was developed to advise the business to make strategic business endings.During 20th Century, joined States has overta ken the British and become the leading industrial power in the world. The growth of industries like U.S. steel and Standard Oil implyed more classy accounting systems to keep track record of expanding business divisions within these huge business corporations. As insiders of the industry took advantages by extend manipulations, price fixing and other questionable business practices mainly to derive eudaimonias thereby depriving the interest of gullible investors.All the states of the U.S.A and Puerto Rico and the District of Columbia stipulates through with(predicate) law that an accountant should gift specific educational and experience requirements and should passes an qualifying examination and will be granted a title known as Certified Public Accountants. CPA. Now, CPAs boast structured in to State and national societies.In United States, American bring in of Certified is the acme body representing accounting profession, which is the contemporary successor organization o f the American Association of Public Accountants and the American Accounting Association organized in 1916. In United States , the fiscal Accounting Standards Boards FASB , an independent non-governmental organization supported by fiscal- reporting industry groups , is the nodal institution accountable for establishing accounting standards and rules whereas the international Accounting Standards Boards IASB designs rules and standards that are recognized and apply by many nations.With fast growth of corporate activity, the need for sophisticated accounting methods has increased and accounting has witnessed many improvements in theory and techniques. The ever changing tax laws and regulations is causing change in accounting methods frequently as it is necessary to maintain homogeneous accounts for governmental statutory requirements or public scrutiny.A series of exposures pertaining to accounting firms failure to detect or openly ch eitherenge irregularities or fraud as in the case of World.com and Enron, when auditing pecuniary resource of a number of corporations compelled Congress to establish the Public Company Accounting Oversight Board in 2002. Securities and interchange Commission has been wholeocated power to appoint the in a higher place board to register and regulate accountants and firms to act as auditors. It sets standards for auditing and is responsible for reviewing audits and disciplining accountants and accounting firms. 1 SIGNIFICANCE OF ACCOUNTING STANDARDSAccounting standards are significant as they guarantee improve public account susceptibility and offer effective and efficient functioning of the trade and commerce of a nation. They play a vital role for complete spirit of political, economical and social consequences of allocation and proper utilization of government resources both at the federal and at the State levels. Improper and bad accounting whitethorn lead to serious long term consequences .Accounting standards can be misused to offer misleading information of a business.FREE MARKET APPROACH OF ACCOUNTING STANDARDSIt refers to a method applied by private sector wherein creation of an economic market in which business is ruled by the laws of supply and demand and not by the unwanted government interference, subsidy or regulation.Under this accounting standard, voluntary disclosure of activity -based cost data which offers a new approach of functional process and provides more alternatives for decision makers. In a real free market, accounting standards would enhance as corporations and accountants vie to offer the go around information to shareholders.In a free market, the aspiration for profit is satisfied by long-range, honest, rational behavior thereby innovating, by employing best employees, by offer graphic symbol products and by providing accurate information to investors.Business is required to provide accurate information to investors else it would loose its reputation and credibility in the market. The circulating(prenominal) FASB is so cumbersome and complex that an ordinary lay man finds it difficult to interpret the same. Most companies in U.S.A now started to follow dual reporting. For instance, AMD and Intel release cardinal sets of accounting reports one as per FASB guidelines which is mandated by the regulation and other based on simple accounting standards that they deem that it being more informative to shareholders.There are certain real statues which refuse the shareholders to overthrow existing corrupt or bumbling management. For instance, Anti-hostile takeover legislation which was passed in 1968 has made it complex to replace incompetent management .Arcane regulations passed in 1930 limit the capacity of the financial entities such as insurance companies, pension funds and mutual funds that own major shareholding in corporations to participate in the board for decision taking and for joint deliberations. Hence, the opportunity to safeguard the interest is being denied by arcane regulations.If the U.S government is really provoke in the healthy stock market, it should exhibit it by deleting, not adding, regulations and building the market truly free. PRIVATE indorsementTOR REGULATION OF ACCOUNTING STANDARDSStock Exchange Commission SEC supports on an independent, private sector standards setting process mainly through open and deliberate. Though the commission has the statutory authority to frame accounting principles , it has not do so for the last 60 years .Instead it has assigned the onus to the private sector for leadership in establishing and enhancing the accounting standards. It is the private sector standards-setting process, as finagled by the SEC has resulted in existence of a quality accounting standards and strong capital markets in USA as of today. EVOLUTION OF REGULATORY APPROACHAfter the end of the First World War in 1919, there was spurt in investment in securities by investors. roughly 1920, more than .02 zillion large and small shareholders availed the benefits of post-war affluence and ready to avail sudden wealth from stock market and due to boom, more than $ 50 billion worth in new stock was floated during this time.The famous stock market crash in 1929 which was notoriously known as Black Friday resulted in exit of faith by investors on the capital markets. Many investors were turned as pauper over a night. It was observed that if at all economy was to recover, the publics confidence on capital market required to be refurbished. Congress was forced to find out a solution for this problem and it held many deliberations on the subject and finally passed the Securities Act of 1933 and the Securities Exchange Act of 1934.The prime goal for the establishment of Securities exchange commission was mainly to enforce the fresh security laws, to build confidence, to provide st index to the market and last but not the least to offer protection to investors. Stock Exchange Commission SEC was toothed with mandate to formulate accounting principles and standards. It is to be noted that even though SEC was accorded the power to supervise the accounting practice, SEC is of the opinion that the private sector is having ample resources and ability to build up suitable accounting standards.The American Institute of Certified Public Accountants AICPA had been in the field since 1887. As a federation of state societies, American Society of Certified Public Accountants was established in 1921 and later merged with the Institute during 1936. Due to persuasion from the SEC, the AICPA appointed the committee on accounting occasion in 1939. Committee on Accounting Procedure CAP released about 51 accounting research bulletin between 1939 and 1959. Though, these bulletins were able to solve the problems now and and then as they emerged but could not address the issues relating to accounting principles.To resolve the accounting principles issues, AICPA established a new standa rd setting body in 1959 namely the Accounting Principles Board APB.The main goal of the APB is to establish appropriate practices, formulate accounting principles and to minimize the discrepancies in practices. Though the APB released about 31 opinions between 1959 and 1973, it was change state for absence of productivity.Generally authentic Accounting Principles GAAP are an anthology of conventions, procedures and rules that describe accepted accounting practices. Though it is not accorded as mandatory by any statute, SEC advises that it should be followed in all financial reporting of publicly traded companies. GAAP can thus be explained as a cluster of conventions and objectives that stick out been developed over time to oversee how financial statements are being prepared and presented. The three nodal authorities viz. the American Institute of Certified Public Accountants, The financial Accounting Standards Boards and Exchange Commission offer regulation concerning acceptab le accounting practices.The GAAP is founded on four primary assumptions as per the details below economic Entity concept- It stresses the business as a separate entity and to segregate income and expenses of business from that of personal.Going concern assumption which assumes that business will carry on for a long-term period to validate the methods of capitalization of assets, provision for depreciation and amortization.Monetary unit assumption which fixes US dollar as the monetary unit for accounting economic consumptionPeriodicity assumption facilitates recording of business operations and separating into different periods. This is mainly to facilitate for comparison between past and present performance of the business.FASBs basic principles are detailed belowHistorical Cost Principle- This requires business to account and report on cost of acquisition basis rather than present market value of the assets and liabilities. Financial reports and statements are prepared in accord ance with set of rules , procedure and standards for reporting financial information known as the Generally Accepted Accounting principles (GAAP) , as established by the Financial Accounting Standard Board ( FASB). This standard stipulates that a company account for all of their assets or economic resources according to their historical cost. (Horngreen, Stratton & Sundem, p.6)Revenue Recognition principle or accrual basis of accounting requires business to record when the revenue is realized or get and not when the cash is earned.Matching principle Expenses has to be matched with the revenues where it is possibleFull disclosure principle- Business should offer all the significant information relating to the company though it may not affect companys financial statements. For instance, Tax disputes, lawsuits, takeover information and possible contingent liabilities of the business are to be unwrap by way of footnotes to the financial reporting. INHERENT DISADVANTAGES OF THE FASBCo st benefit relation ship It emphasizes that benefit of offering financial information should also be burden against cost of providing it.Materiality- It refers to the significance of the item reported and it is to be weighed amount reported will have impact on third partys decision based on the information provided.The Industry Practice Constraint Conservative approach stresses that it is better to understate the financial statements rather than overstating it.The after effects of Enron, WorldCom, Inc have forced the Congress to enact Sarbanes Oxley Act in 2002. The other accounting reforms announced is the creation of Public Company Accounting Oversight Board PCAOB to supervise the audits of the Public companies. PACOB has been entrusted with wide authority to regulate the auditing profession. PACOB has been toothed with powers like imposing civil penalty and to impose permanent revocation of an auditing firms ability to audit public companies.8, SWITCHING TO PRINCIPLES BASED ACC OUNTING SYSTEMThere is strong suggestion from conglomerate quarters that U.S should abandon the current rules-based system in favor of a principles-based accounting. If that happens, the critics are of the view that all the current difficulties being faced by U.S financial reporting would be alleviated or eliminated. Further section 108 of the Sarbanes Oxley Act of 202 stipulates that SEC to conduct a study on the adoption of a principle based accounting system. 2 CONCLUSION globalisation offers both impetus and opportunity and it is time to streamline the FASB guidelines in tune with changing scenario.3 It is to be noted that FASB has recently issued special report on Leases thereby implementing a new approach, is recognition of the need to review existing standards. Hence it is necessary not only to review its leases guidelines but for all current standards.The current FASB is high technical and complex in nature and may not help the investing public to take in the same without the guidance of professionals on the subject. When approximately of the countries around the globe have switched from complex to simpler guidelines, U.S can also follow them. In setting standards on national or global basis, technical nicety is regarded as less authoritative than the comparability among reporting entities.Globalization in commerce here has become the order of the day and U.S accounting standards must spring true global interests. Sticking to technically sound accounting standards would not help to develop acceptable, meaningful international standards. FASB should take avail this opportunity to modify and even change the standards. The accounting profession and accounting standard setters should unite together in their effort to assure simpler, more beneficial and easy to understand U.S and worldwide accounting standard.BIBILIOGRAPHYVan Riper, R. 1994, Setting Standards for Financial Reporting FASB and the Struggle for Control of a Critical Process. CT Quorum Bo oks. Westport.Hartgraves, A. L., & Benston, G. J. 2002, The Evolving Accounting Standards for Special Purpose Entities and Consolidations. Accounting Horizons, 16(3), 245+.Barker, Richard, 2004, Reporting Financial Performance. Accounting Horizons 18, no. 2 157+.Bekesford, Dennis R. 1999,Its Time to Simplify Accounting Standards. Journal of Accountancy 187, no. 3 65.Beresford, Dennis R. 2001,Congress Looks at Accounting for Business Combinations. Accounting Horizons 15, no. 1 73.Derieux, Samuel A. 2000,Lets Reassess Accounting Standards. Journal of Accountancy 189, no. 5 82.Dye, Ronald A., and Shyam Sunder. 2001,Why non Allow FASB and IASB Standards to Compete in the U.S.? Accounting Horizons 15, no. 3 257.1992,The Financial Accounting Standards Board. Journal of Accountancy 173, no. 6 4.Fleming, Peter D. 1991,The Growing immensity of worldwide Accounting Standards Arthur R. Wyatt, Chairman of the International Accounting Standards Committee Heralds International Harmonization. J ournal of Accountancy 172, no. 3 100+.Gornik-Tomaszewski, Sylwia, and Irene N. McCarthy. 2003,Cooperation between FASB and IASB to Achieve product of Accounting Standards. Review of Business 24, no. 2 52+.Hartgraves, Ai L., and George J. Benston. 2002, The Evolving Accounting Standards for Special Purpose Entities and Consolidations. Accounting Horizons 16, no. 3 245+.Herrmann, Don, and Ian P.N. Hague. 2006, Convergence In Search of the Best CPAs Should Understand How U.S. and Foreign Accounting Standards Influence Each Other. Journal of Accountancy 201, no. 1 69+.Houston, Melvin, and Alan Reinstein. 2001, International Accounting Standards and Their Implications for Accountants and U.S. Financial Statement Users. Review of Business 22, no. 1 75.Monson, Dennis W. 2001, The Conceptual Framework and Accounting for Leases. Accounting Horizons 15, no. 3 275.Nobes, Christopher W. 2005,Rules-Based Standards and the Lack of Principles in Accounting. Accounting Horizons 19, no. 1 25+.Radig , William J., and Brian Louder milk. 1998,Leading the Way to Uniform Accounting Principles. Review of Business 19, no. 3 22+.Schipper, Katherine. 2003, Principles-Based Accounting Standards. Accounting Horizons 17, no. 1 61+.Silliman, Benjamin Rue. 2005,Convergence of Accounting Standards A Comparative Analysis of the U.S. Revised Standard on Share-Based Payment and the International Accounting Standards Boards IFRS 2. Review of Business 26, no. 2 24+.Wyatt, Arthur R., and Joseph F. Yospe. 1993,Wake-Up Call to American Business International Accounting Standards Are on the Way. Journal of Accountancy 175, no. 7 80+.1 Encyclopedia word Title Accounting. Encyclopedia Title The Columbia Encyclopedia, Sixth Edition. Publisher Columbia University Press. Place of proceeds New York. Publication Year 2004.2 Article Title Principles-Based Accounting Standards. Contributors Katherine Schipper author. Journal Title Accounting Horizons. Volume 17. Issue 1. Publication Year 2003. Page Number 61+.3 Article Title Lets Reassess Accounting Standards. Contributors Samuel A. Derieux author. Journal Title Journal of Accountancy. Volume 189. Issue 5. Publication Year 2000. Page Number 82Accounting Standards EssayNow-a-days, more and more enterprises are being managed by the professionals. The persons who provide risk capital to the enterprise do not participate in the day-to-day affairs of the enterprise and their major source of information about the enterprise is the financial reporting made by it. Apart from the providers of risk capital, there are other stakeholders also which include prospective shareholders, bankers, creditors, etc. , who use the financial reporting made by the enterprise to make their economic and financial decisions.In such a scenario, it is absolutely essential that financial reporting of an enterprise is unbiased, comparable, transparent and free from bias. This necessitates the existence of a sound financial reporting system in country which is base d on the Accounting Standards. Realising the need for establishment of sound Accounting Standards in the country, the Institute of Chartered Accountants of India (ICAI), being the prime(a) accounting body in the country, established the Accounting Standards Board (ASB) way back in 1977.Since then, the Accounting Standards Board has been working relentlessly in this nidus by formulating new Accounting Standards as well as by revising the existing Accounting Standards so as to bring them in line with the best international practices. With a view to improve the quality of financial reporting in the country in real terms, it is also essential that the issues that are arising in implementation of accounting standards are addressed appropriately so that all Accounting Standards are understood and applied in the manner intended. holding this in view and with a view to ensure effective implementation of these standards, the Institute has also issued divers(a) interpretations, revised exi sting interpretations and issued announcements on accounting standards. charge in view the continuous changes that are taking place in Accounting Standards, Accounting Standards Interpretations and announcements on accounting standards, it is imperative on the part of the Institute to make all such pronouncements/ announcements available in one single book and revise it from time to time.The Institute has, therefore, been publishing the Compendium of Accounting Standards which contains all new/ revised Accounting Standards and other related pronouncements/ announcements, issued upto the date of publication of the Compendium and which are existing on that date. I am happy to state that continuing this practice, the Institute is publishing this Compendium of Accounting Standards As on July 1, 2006, which incorporates all latest developments in the field of Indian Accounting Standards.I severely believe that this edition of the Compendium will be extremely useful not only to the mem bers of the Institute in discharging their professional duties but also to the preparers of financial statements and other users of accounting standards. New Delhi November 17, 2006 T. N. Manoharan President Preface In recent years, there has been an unprecedented increase in the awareness about the need for and vastness of Accounting Standards in the country.The accounting standards which lay down sound and wholesome principles for recognition, measurement, presentation and disclosure of information in the financial statements improve substantially the quality of financial reporting by an enterprise. The accounting standards tend to standardise diverse accounting practices with a view to eliminate, to the extent possible, incomparability of information contained in the financial statements of various enterprises. The accounting standards also improve the transparence of financial statements by requiring enhanced disclosures.Realising the significance of accounting standards in imp roving the quality of financial reporting, the accounting standards have been granted legal recognition under the Companies Act, 1956, which require accounting standards to be followed by all companies. Apart from the Companies Act, 1956, various regulatory bodies, e. g. , the Securities and Exchange Board of India (SEBI), the reticence Bank of India (RBI) and the Insurance Regulatory and Development Authority (IRDA) also require compliance with the accounting standards issued by the Institute by their respective constituents.This is a overhear manifestation of the significance of the accounting standards and high quality of accounting standards being issued by the Institute. With so much faith being reposed by the law and various regulatory authorities in the accounting standards issued by the Institute, the responsibilities of the Institute as an accounting standard-setting body has increased tremendously. The Institute, through its Accounting Standards Board, has been trying to discharge these responsibilities by issuing new accounting standards as well by revising the existing accounting standards. Apart from ssuing new accounting standards and/or revising the existing accounting standards, the endeavour of the Institute has also been to address the issues arising in the implementation of accounting standards through issuance of new interpretations, revision of the existing interpretations and issuance of announcements on accounting standards. With the regular developments taking place in the area of accounting standards, there is a need to publish an updated version of the Compendium of Accounting Standards, which incorporates all the relevant developments that have taken place since the publication of the last edition of the Compendium.As compared to the last edition of the Compendium of Accounting Standards in 2005, this edition incorporates hold revisions to two accounting standards, viz. , AS 15 (revised 2005), Employee Benefits, and AS 29, Provisi ons, Contingent Liabilities and Contingent Assets which were issued subsequent to the last edition. Besides this, one new Accounting Standards Interpretation, two revised Interpretations and six new Announcements on Accounting Standards have also been incorporated.The Compendium also includes a comparative statement of International Accounting Standards/ International Financial Reporting Standards and Indian Accounting Standards as on date, to apprise the users about the comparative status of Indian Accounting Standards vis-avis the International Accounting Standards/ International Financial Reporting Standards. I would like to take this opportunity to place on record my appreciation of the efforts put in by all the persons involved in the formulation of accounting standards at relevant times.Accounting Standards EssayIn your opinion are accounting standards necessary and to what extent? Do you retard with the view that mandatory regulations stifle innovation ? why? Give reasons?* Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders (government, investors, shareholders, suppliers, lenders, customers and the general public). * These stakeholders use such information to take decisions and to assess the stewardship of multitude appointed to manage such organizations. If this information is not of a high quality standard, then the stakeholders would be unable to take effective decisions that will benefit them. For example, if a financial report is manipulated to show higher profits, investors would hold on to their shares with the belief that the company is doing well.See more Is the Importance of being earnest a satirical play essay* Good and useful information should have the essential characteristics of understandability, comparability, relevance and reliability in order to play its role effective ly. Accounting standards serve to promote the understandability , comparability, relevance and reliability of financial reports. * Accounting standards are needed so that financial statements will fairly and consistently describe financial performance. Without standards, users of financial statements would need to learn the accounting rules of each company, and comparisons between companies would be difficult.Here are other reasons why accounting standards are important to every business.Protecting InvestorsBy employing accounting standards, investors interests are ensured as the documents they review are definitely accurate and genuine. As investors, they are interested to know that their currency will eventually earn and go back to them. Accounting standards increase the investors confidence in the business.Regulatory ComplianceGovernment regulators set accounting standards that have to be adhered to by all companies. This is both beneficial to the investor or business owner as w ell as to the customers or clients because it protects them from frauds in businesses. It also promotes transparency among the business transactions which will eventually lead to the improved efficiency of the markets. Following accounting standards set by the FASB and the IASB will help prevent a company or business from spending on legal actions initiated by the government against it.Assessing Business PerformanceThe use of accounting standards will enable a business to see or assess its performance. By doing so, they can also compare and contrast their business performance with other companies or competitors. It further helps a business see its strengths and weaknesses. By also comparing past and current performances, a business can assess the success of its strategies. Businesses will either expand or fall. Depending on the trends and the economy of the country, an investment may grow or go down the drain. But in the end, accounting standards will make a difference. That is why all businesses have to follow and strictly adhere to accounting standards.