Fair Value Accounting Essay Example | Topics and Well Written Essays - 4250 words

Fair Value Accounting - Essay Example Since then, the pros and cons of fair value accounting have been debated. On one hand, fair values provide a better view of current market conditions and therefore provide him with more relevant information. However, on the other hand it increases volatility in earnings and may not necessarily ensure reliability and relevance. This is because if an active market does not exist, it would be determined by calculations which are subject to management bias. While some people argue that fair value accounting provides us with truer financial statements, others question its validity. Hence, those institutions that use more and more of fair value option should also disclose adequate information regarding the assumptions, changes in acquisitions or sales, predictions and all those factors that affected the values that show in the financial statements as fair values. This would enable the users of financial statements to make knowledgeable and wise decisions. Fair value accounting is a way of accounting in which an asset or liability is valued at its current exchange price at a measurement date, in absence of an actual transaction for that asset or liability. In financial statements, all financial instruments may be valued at fair value. Before 200... The statement defines fair value of an asset as the price at which it can be traded or sold in an orderly transaction between 'market participants', other than in insolvency. Similarly, fair value of a liability is the amount at which it can be acquired or settled in an existing transaction between 'market participants', other than in insolvency. (KPMG, 2007) Market participants refer to buyers and sellers in the most principal or beneficial markets for those assets or liabilities. They meet four criteria: they are unrelated with the reporting body; they possess the knowledge required to have a realistic insight into the transactions; they are financially and legally able to carryout transactions for the entity; they are prepared to transact without any pressure. (KPMG, 2007) Principal market is the market with maximum volume and level of activity where assets and liabilities are sold or traded by a reporting entity. An entity that does not have a principal market determines its most beneficial market by including the transaction costs. (KPMG, 2007) Explanation Fair value of an asset may be equal to its quoted market price. However, this may not always be true. Fair value takes into account advantages and disadvantages that each party may gain from the transaction whereas market value may not always consider that. Also there might not be a quoted price for all assets or liabilities. In such circumstances, fair value has to be generated using the best information available to the preparers. Consequently, difficulties arise in creating those estimates. (KPMG, 2007) In accounting, fair value is used for those assets or liabilities whose carrying value is rooted in mark-to-market value. Carrying value is the amount

Buddhism' s Success in China Essay Example | Topics and Well Written Essays - 750 words

Buddhism' s Success in China - Essay Example To support this answer, this paper will compare and contrast Buddhism to Confucianism/Legalism and Daoism. Buddhism was originated in northern India, near the Himalayan Mountains, by Prince Gautama, during the sixth century B.C. Stearns summarized that the system advocated by the prince taught that enlightenment - and therefore contentment and peace in life - was achievable only through abstinence from things that promoted misery, such as sensations, perceptions, thinking, reasoning and desire for things which men find agreeable - anything that appealed to the delight of men (75-77). Because of this abstinence and its reflection on Buddhist priests and adherents, Buddhism at its early stages could be seen as emblematic of the simplicity of the Four Truths, and how each and every individual, from the lowly workers to the exalted royals, could hold to its precepts. According to Stearns, the 'Divine Sage' Confucius (Kong Fuzi) proposed a system of harmony and keeping to the Way as "a social and political ethos derived from idealized values of the past" (36). As a system it was rooted in morality and ethics, providing reason and regulations, down to the smallest measure of a 'gentleman's' conduct in a very systematic, measured and precise way. Comparing Confucianism to Buddhism puts two things into perspective: one, Confucianism focused on conduct and propriety, a worldlier set of functions, whereas Buddhism focused on abstaining from worldly matters in general. Two, Confucianism was seen as something of an appointment, an elevation to and reward of power above the rest, and therefore not suited to the common people. This level of classism was not apparent in Buddhism. Legalism The primary advocate of Legalism was Han Feizi, who advanced Confucianism into a more pragmatic viewpoint. As Stearns stated, "this harsh but effective solution for resolving the chaotic conditions that plagued the Zhou dynasty included the introduction of new managerial techniques, improved bureaucracy, enhanced communication, land reforms and standardization of weights, measures and coinage" (43). Legalism was a law-driven approach to government, and as such dealt mostly with an ancient notion of cause and effect and consequently dealing effectively with the criteria that drove and defined such polarities. Again, in the contrast of Legalism with Buddhism, we draw the conclusion that Legalism was a more restrictive approach to government, focusing on controlling and compelling the masses rather than catering to the individual's needs. Legalism can be equated to a top-down method, whereas Buddhism could be seen as a bottom-up method; individual contentment begets collective contentme nt, as opposed to informed manipulation by a few to drive the collective towards restrictive unity. Legalism was more a political system rather than a religious one. Daoism Like Confucianism, Daoism proposed adherence to a 'Way', holding a similarity to Confucianism in this. Proposed by

The Home Front Letter Essay Example for Free

The Home Front Letter Essay How have you been? This War has everyone really going. The War will be over in a matter of months and our lives will back to normal. However, I am quite annoyed, just like most of my neighbours and colleagues, about the DORA. It has restricted the way we live. For example, we can no longer feed the dog. The news these days is just totally intolerable. Most of the news has to be censored, so how is one supposed to find out what is going on around the country. Those Germans are hated by every single Briton in this country. You should see some of the things they do. There are posters of Germans killing innocent babies and children for fun and raping women. It is just so inhuman. Recently, they have started sending in huge airships and bombing many of the large cities, including London. This has just got to end some time soon! My son, George, has also joined the army. My family and I are so proud of him. I feel that he will make a big difference to the war, just like the many other men that have joined. This whole war will blow over in the next few months. I dont think those Germans will last long at all. Take care of yourself. Yours sincerely, John.

Adoption of Animals Essay -- Argumentative Persuasive Essays

Adoption of Animals Anyone, who visits an animal shelter, as I do, sees an extraordinary number of beautiful, affectionate, and desperate dogs and cats. The majority of animals in any particular shelter are dogs, usually adults, for whom there aren't enough adoptive homes waiting. A few may have come from responsible breeders, whose owners do not realize that the breeder will take them back,many are those who are lost, and/or from owners who simply got tired of them. Some are pet shop puppies from a puppy mill that did not meet the owner's expectations due to health, temperament, or other reasons. A large number usually turn out to be the result of deliberate and irresponsible home breeding. These people are known as "back-yard breeders." And that is not a compliment. The bottom line is that most people who decide to purchase or adopt a companion animal simply do not realize the responsibility they will be taking on for the next one to fifteen (+) years. It is not fair to say that most people do not have good intentions in their decision to acquire a pet, especially those who rescue an unwanted pet from a neighborhood shelter. What is important is that people become educated about the acquisition of a new pet and the responsibilities that accompany the addition. When rescuing an animal from a shelter or humane society, it is required that the owner spays or neuters the pet within thirty days of date of adoption. Usually, a portion of the fees acquired at the time of adoption is used for the spay/neuter surgery. Thomas Shermerhorn,VMD acknowledges that dogs and cats can be spayed quite early (about 8-10 weeks) without the risk of any long-term problems-well before the first heat, which usually happens about six months of a... ...list of courses. 6 Dec. 1999. Information and advocacy Web site. Accurate and current reporting on legislation and humane issues. Extensive amount of links. "Humane Education Network: A Voice for Animals." Home Page. 27 Mar. 1999 6 Dec. 1999. Relevant and accurate information about animal welfare. Relevant links to other on-line educational sites. "National Association for Humane and Environmental Education." Community Outreach and Teacher Training. Home Page. 6 Dec. 1999. Extensive and excellent resources for teachers, parents. Information, advocacy, and educational site. Excellent links. "Zoo to You Online." Non-profit organization formed to help educate Students. 6 Sep. 1999. 5 Dec 1999. Information site dedicated to linking schools with on-line educational and resource communities.

How to Survival Middle School Essay

Graduating elementary school is an exciting mile stone, but then comes middle school. Middle school is a very tough place for most people. Hormones start to kick in and work load gets amplified. Drama takes over the school and learning how to balance it all is a skill. With these new emotions its difficult to balance both friends, relationships, and school work. There are a lot of new challenges a student has to take on, but with a few key tips, middle school may be a bit easier to get through. 1. Always Smile- By smiling you are putting out a positive attitude. When one meets a person who is smiling they are more likely to be smiling to. A smile gives you a more approachable feel and can help you make friends easier. If you have a sad or stern face people won’t be as intrigued to come talk to you. 2. Pay Attention in Class- There is so much going on in a middle schoolers life at home and with friends its hard to stay focused. Making sure you listen in class is a big part of doing well in middle school. It is easy to get distracted but you need to remember the reason your at school is to learn. Everything going forward, build upon itself so if your mind is somewhere else you just be confused later on. 3. Prioritize- When entering middle school, friendships change. Play dates stop happening and â€Å"going out† starts. â€Å"Boyfriends† and â€Å"Girlfriends† begin to happen. With your mind focused on new relationships as well as home life, it is easy to stop focusing on school. Doing homework as well as projects before going to spend time with friends is important. Waiting till the last minute doesn’t work if you want a good grade. By getting your work done first, it is more likely to be done well and when your with your friends you won’t have the stress of having undone work. 4. Don’t Tell Unless Asked- People love to talk about themselves! Try your hardest to just listen. As much as you may not care, it will bring you and the person closer. DO NOT tell others what people confide in you, or all trust will be gone, along with any secrets at all. If someone asks you a question, be honest, but try not to talk about yourself. In middle school opinions change quickly and you don’t want to say something you will regret. 5. Don’t Talk Badly About Others- Day to day your thoughts, views, and opinions change on your life around you. By talking badly about someone you make your self look bad. Also if you talk about to many people, your friends will begin to think you talk about them too. Great way to loose friends. In middle school your friends with someone one day and not the next. Stupid arguments happen more often than not and if someone finds out what you said about them (they most likely will, because everyone in middle school has a big mouth) your relationship with them can take a turn for the worse. If you wouldn’t want them to say it about you, don’t say it about them. 7. Plan- Make plans with friends a few days in advance. You still have to come up with the place and time as well as who is going. You want to give your self enough time to ask you parents and get it approved. Nothing worse than having everything planned out, and them mom and dad saying no. 8. Ignore the Drama- In middle school word spreads fast. Monday you will be focused on something completely different than on Wednesday. People are catty and looking for attention, do your best to stay out of it. People will be mean, and if you give them a reaction, you encourage them to continue to do it. By ignoring what they say they quickly get bored, and move on to someone else. Realize that what ever they say has nothing to do with you, their just trying to raise their ego and self esteem by putting someone else down. Don’t let it get to you and go on as if they weren’t there.

Who Were the Caliphs

A caliph is a religious leader in Islam, believed to be the successor to the Prophet Muhammad. The caliph is the head of the ummah, or the community of the faithful. Over time, the caliphate became a religiopolitical position, in which the caliph ruled over the Muslim empire. The word caliph comes from the Arabic khalifah, meaning substitute or successor. Thus, the caliph succeeds the Prophet Muhammad as the leader of the faithful. Some scholars argue that in this usage,  khalifah  is closer in meaning to representative — that is, the caliphs werent really substituted for the Prophet but merely represented Muhammad during their time on earth. Contention of The First Caliphate The original schism between Sunni and Shia Muslims occurred after the Prophet died, because of a disagreement over who should be the caliph. Those who became the Sunnis believed that any worthy follower of Muhammad could be caliph and they backed the candidacies of Muhammads companion, Abu Bakr, and then of Umar when Abu Bakr died. The early Shia, on the other hand, believed that the caliph should be a close relative of Muhammad. They preferred the Prophets son-in-law and cousin, Ali. After Ali was assassinated, his rival Mu-waiyah established the Umayyad Caliphate in Damascus, which went on to conquer an empire stretching from Spain and Portugal in the west through North Africa and the Middle East to Central Asia in the east. The Umayyads ruled from 661 to 750, when they were overthrown by the Abbasid Caliphs. This tradition continued well into the next century. Conflict Over Time and The Last Caliphate From their capital at Baghdad, the Abbasid caliphs ruled from 750 to 1258, when the Mongol armies under Hulagu Khan sacked Baghdad and executed the caliph. In 1261, the Abbasids regrouped in Egypt and continued to exert religious authority over the Muslim faithful of the world until 1519. At that time, the Ottoman Empire conquered Egypt and moved the caliphate to the Ottoman capital at Constantinople. This removal of the caliphate from the Arab homelands to Turkey outraged some Muslims at the time and continues to rankle with some fundamentalist groups to this day. The caliphs continued as heads of the Muslim world — though not universally recognized as such, of course — until  Mustafa Kemal Ataturk abolished the caliphate in 1924. Although this move by the newly secular Republic of Turkey sparked an outcry among other Muslims around the world, no new caliphate has ever been recognized. Dangerous Caliphates of Today Today, the terrorist organization ISIS (the Islamic State of Iraq and Syria) has declared a new caliphate in the territories it controls. This caliphate is not recognized by other nations, but the would-be caliph of ISIS-ruled lands is the organizations leader, al-Baghdadi. ISIS currently wants to revive the caliphate in the lands that once were the home of the Umayyad and Abbasid Caliphates. Unlike some of the Ottoman caliphs, al-Baghdadi is a documented member of the Quraysh clan, which was the Prophet Muhammads clan. This gives al-Baghdadi legitimacy as a caliph in the eyes of some Islamic fundamentalists, despite the fact that most Sunnis historically did not require a blood relationship to the Prophet in their candidates for the caliph.

Taming of the Shrew/ 10 Things I Hate About You - 1584 Words

The story of The Taming of the Shrew is one that raises important issues both in the Shakespearean text and in the modern appropriation 10 Things I Hate About You. How does each composers use of this story reflect the time in which each was composed The Taming of the Shrew was written in the Elizabethan Era in England at a time when men were considered to be superior to women. The patriarchal society of this time is reflected to a large extent in the text and various implications of traditional values can be noted. The modern appropriation, Ten Things I Hate About You, goes along the same story line however it is quite evident that the different context has a significant impact upon the content. The most obvious indicator of the†¦show more content†¦The culture of the early 17th century placed strong emphasis on the respect that children must show for their parents. Although Katherina rebels against many other customs she reluctantly marries out of respect for her father. In Ten Things Kat is given the choice of going out with Patrick or not. Patrick is given money to woo Kat but he never forces her to take up his offer because, in the society that they live in, it is not acceptable. This reflects that, in the modern context, men and women have greater equality, and also that parents have little or no part in the relationships that their children build with members of the opposite sex. The fathers in each of the two texts give a very good insight into the culture of the society in their particular eras. The Ten Things father is very protective of his daughters. He is aware of the availability of drugs and alcohol in teen culture, and the probability teens retain of having sexual relations. This shows that these are all prominent issues in society in the 90s. Baptista, from the play, is a contrast to the Ten Things father. He very much desires his daughters to get married because he doesnt want to risk losing his familys good reputation. We can tell that it is normal for daughters to be married by their fathers and the father is not worried about sex, drugs or alcohol, so we can gather thatShow MoreRelatedTaming Of The Shrew And 10 Thing I Hate About You1063 Words   |  5 Pages Money isn’t the only thing that is valuable in this world. Although in many film texts this is not the case. Particularly in â€Å"Taming of the Shrew† and â€Å"10 Thing I Hate About You† because in both of the films, the main male characters Patrick and Petruchio are predominantly motivated by money. However, they ended up falling for Kat and Katharina who have been set up as the archetypal shrews in both films. During the Elizabethan era money was a major factor that influenced society’s view of yourRead More10 Things I Hate about You and The Taming of the Shrew1171 Words   |  5 Pagesfilm â€Å"10 Things I Hate About You† is based loosely on William Shakespeare’s 15th century play â€Å"The Taming of the Shrew†. The misogynistic play tells the story of how Petrucio essentially torments his headstrong wife, Katharina (also called â€Å"Katherine† and â€Å"Kate†) until she â€Å"becomes a compliant and obedient bri de† (wikipedia). The story simultaneously follows the story of many suitors competing for the love of Katharina’s sister, Bianca (Wikipedia). The film adaptation, â€Å"10 Things I Hate About You†Read MoreTaming Of The Shrew And 10 Things I Hate About You Analysis1390 Words   |  6 PagesShakespeare’s Taming of the Shrew as well as its adaptation 10 Things I Hate About You by Gil Junger, represent their respective ideas on love which shares its similarities and differences, both portraying love in their own forms. Both texts highlight the ideals of love in their context as well as one of the main courtships, Katharina and Petruchio, involved in love, portraying their values of love. The transformation of love within context shapes Katharina’s personality in Taming of the Shrew. Kate’sRead More10 Things I Hate About You Taming of the Shrew: Appropriation1376 Words   |  6 Pages10 Things I Hate About You The Taming of the Shrew The historical and cultural contexts of Shakespeare’s The Taming of the Shrew (TTS) and the 1999 film 10 Things I Hate About You (10TIH) differ exceptionally, resulting in the film’s expression of values unlike those expressed in Shakespeare’s original text. Shakespeare’s play was written during the Elizabethan era, during which the belief that men were superior to women was prevalent. This concept is centralised in TTS, through incorporationRead MoreThe Power of Love in 10 Things I Hate About You and Taming of the Shrew1491 Words   |  6 Pagesin 10 Things I Hate About You and Taming of the Shrew The Power of Love is portrayed in various themes throughout both. Some of which depict superficial love, motivation by money and love-at-first-sight. These ideas can be contrasted and compared between the 1500 Elizabethan time of Shakespeares play The Taming of the Shrew and the present contemporary period of teenage movie 10 Thing I Hate About You. Read MoreThe Taming Of The Shrew And 10 Things I Hate About You Directed By Gil Junger1365 Words   |  6 Pageseveryone in Shakespeare’s audience.† – Dorothea Kehler Detecting intertextual relationships between The Taming of the Shrew by William Shakespeare and 10 Things I Hate About You directed by Gil Junger has enriched my understanding of feminism in the American society. The Taming of The Shrew, written in 1593, challenges cultural expectations of women’s rights at that time. 10 Things I Hate About You however, was produced to fit the context of 1990’s America. A period when a great deal of anxiety wasRead MoreTaming Of The Shrew By William Shakespeare And 10 Things I Hate About You By Gil Junger1365 Words   |  6 PagesCultural Change Around The World, 2003) Detecting the intertextual relationship between Taming of the Shrew by William Shakespeare and 10 Things I Hate About You by Gil Junger, has greatly enhanced and enriched my understanding of love and gender and it’s varying ideals throughout the centuries. Taming of the Shrew depicts the quintessential features of a 16th century marriage, whilst 10 Things I Hate About You, its 21st century counterpart, has been rebooted to match the modern cultural expectationsRead MoreWilliam Shakespeare s The Taming Of The Shrew1180 Words   |  5 PagesWilliam Shakespeare s ‘The Taming of the Shrew’ is a controversial comedy that has more than 1 interpretation. The 2 prominent interpretations is that it a misogynistic play or that it is a love story about a man liberating a woman. This play has been adapted into any movies the 2 that were studied were ‘The Taming of the Shrew’, produced in 1967 and ‘10 Things I Hate About You’, made in 1999. Upon view ing these 2 movies I found that ‘The Taming of the Shrew’ had a great deal of misogyny throughoutRead MoreThe Taming Of The Shrew1180 Words   |  5 PagesDuring the 1600s, William Shakespeare wrote the play The Taming of the Shrew. This play has been well-known throughout the ages. The play has been adapted into film and the two most popular version of it are The Taming of the Shrew and 10 Things I Hate About You. The movie The Taming of the Shrew was released in 1967, while the newer version came out as, 10 Things I Hate About You which was released in 1999. Even though these two variations are based off the same play they have many similaritiesRead MoreAnalysis Of Taming Of The Shrew 908 Words   |  4 PagesTaming of the Shrew by William Shakespeare, the indication of a woman being the possession of her husband, and having to do everything that he proposes her to do is presented. Katherine has to acquire appropriate manners toward a man in advance before her sist er Bianca can wed. Bianca wishes to marry one of her suitors/bachelors, but she can’t due to tradition because the older sister has to marry first. In 10 Things I Hate About You, a analogous argument, the notion of a girl requiring appropriate