Company Analysis Harley-Davidson - 1002 Words

Introduction Regardless of their emergence in the market in the year, in 1903, Harley-Davidson together with the motorcycle industry did not have an easy start until the end of the Second World War. Many people used motorcycles during the period the war took place. Harley-Davidson was instrumental in supplying around 90,000 motorcycles to the American military during this period. Many veterans opted to buy motorcycles after returning home. This is because they enjoyed riding the motorcycles during the war and desired to continue riding them after the end of the war. This generation was called the baby boomers and became the primary target for Harley-Davidson to market their products. Analysis of Harley-Davidson Company Increase of sales and the growth in the industry resulted to creation to motorcycle clubs as well as rallies were established. Unfortunately, lewd behavior exhibited by many people linked to the motorcycle clubs and rallies, had an image of being messy and raucous. Thi s gave the bikers a terrible reputation. The image of Harley-Davidson was negatively affected because of the Hells Angels. All of these factors combined resulted to a sharp decline lead in demand and purchase of the motorcycles throughout the whole industry in the 1970s.The motorcycle industry provides products, which are often viewed as luxuries or desires rather than necessities. In regard to Harley-Davidson many motorcycle owners bought their bikes as a second vehicle, to use oftenShow MoreRelatedHarley Davidson Financial and Strategic Analysis Review989 Words   |  4 Pagesï » ¿ Harley-Davidson, Inc. - Financial and Strategic Analysis Review Publication Date: 03-Aug-2012 Reference Code: GDAUT29887FSA Company Snapshot Key Information Harley-Davidson, Inc., Key Information Web Address www.harley-davidson.com Financial year-end December Number of Employees 6,000 NYSE HOG Source : GlobalData Key Ratios Harley-Davidson, Inc., Key Ratios P/E 20.87 EV/EBITDA 19.64 Return on Equity (%) 24.75 Debt/Equity 236.45 Operating profit margin (%)Read MoreHarley Davidson And The Motorcycle Industry1358 Words   |  6 Pages History: Foundation: It all started in Milwaukee, Winsconsin in 1903 when William Harley, Walter and Arthur Davidson created their first Harley- Davidson in their family building. Harley-Davidson and the motorcycle industry wasn’t a big company until after the Second World War. Many people rode motorcycles during the war, with Harley-Davidson themselves becoming the major supplier not only for the U.S. military but other allied forces as well during this time. Many veterans chose to purchase motorcyclesRead MoreHarley Swot Analysis1184 Words   |  5 PagesHarley-Davidson has become a household name in the United States and is a brand that has acquired an almost mystical power (Austin, Sole, Cotteleer, 2). The Harley-Davidson motorcycle business has been around for 95 years and to this day, people will still wait up to two years for their turn at receiving their own Harley. The demographic of Harley-Davidson customers ranges from â€Å"riders in their forties with grown child no longer at home to young, reckless and ‘born to be wild’ (Austin, Sole, CotteleerRead MoreHarley Davidson Analysis1368 Words   |  6 Pagesree Harley Davidson Analysis Essay Below is a free essay on Harley Davidson Analysis from Anti Essays, your source for online free essays, free research papers, and free term papers. Anti Essays also has a database of thousands of other free essays, free research papers, and free college essays. You can search for more free essays from Anti Essays using the search box above. Harley Davidson Analysis We think it would be interesting to quote first Harley-Davidson s mission, in orderRead MoreMGT499-Module 5 Case1720 Words   |  7 PagesSTRATEGIC CHOICES AT HARLEY-DAVIDSON MOTOR COMPANY To complete Module 5 Case Assignment, read the information in the background material, look for more information and review some of your previous readings for this class, and then write a 4- to 5-page report for your professor and the executives of H-D Corporation by answering the following questions: What strategy (or combination of strategies) did Harley-Davidson use to become such a successful organization? To what extent has Harley-Davidsons strategyRead MoreHarley Davidson Case Analysis : Davidson1196 Words   |  5 Pages Harley Davidson Case Analysis I. SITUATION ANALYSIS: Harley Davidson had its centennial celebration of their motorcycle production industry in 2003, meaning it had its start in 1903. Up until the later 1990s, the company primarily focused on producing the heavyweight motorcycles that the majority of aging male baby boomers desired. The company had no issues trying to differentiate their product at the time as no other competitors for this fun kind of transportation existed other automobiles andRead MoreHarley Davidson Executive Summary Essay examples797 Words   |  4 PagesCase Analysis of Harley-Davidson, Inc. Executive Summary Harley-Davidson, Inc. (NYSE:HOG) was founded in 1903. The home base was originally founded in and even today remains in Milwaukee Wisconsin. Harley-Davidson’s popularity grew significantly during World War I, when the U.S. infantry used 20,000 of the company’s motorcycles in its war effort (Taylor, 2010). Best recognized for its manufacturing of heavyweight motorcycles, Harley-Davidson has captured half the U.S. market and a third ofRead MoreHarley Davidson Case Study1607 Words   |  7 Pages Harley Davidson Case Study MBA Program In Partial Fulfillment of the Course Requirements for MBA 5302 Submitted by July 24, 2013 Introduction Harley Davidson, established in 1903, is the largest manufacturer of motorcycles in the United States. While Harley Davidson dominates the moto market in the United States, it is very small compared to the international market which is infiltrated with large Japanese firms such as Kawasaki, Honda and Yamaha who produce various categoriesRead MoreMGT499-Module 4 Case- Harley-Davidson-Strength Weaknesses1395 Words   |  6 PagesSTRATEGIC MANAGEMENT: INTERNAL ANALYSIS AND SWOT CASE ASSIGNMENT To complete Module 3 Case Assignment, please read the information in the background material, look for more information (from previous modules and library resources), and then write a 4- to 5-page report answering the following questions: What are H-Ds top two or three strengths for moving forward in the competitive motorcycle manufacturing and sales environment? Describe what you consider to be two or three of the weaknessesRead MoreHarley Davidson: SWOT Analysis and Recommendations684 Words   |  3 PagesHarley Davidson Introduction Harley Davidson Company has a long history of building motorcycles that have worked to actually shape a part of the American culture. Its product positioning and marketing strategies have served as a prime example for any company to imitate. Harley Davidson has developed immense levels of brand loyalty over the years. However, the company has also been burdened by the recent economic downturn and now is going through something of a rebuilding phase as it tries to determine

School Curriculum Free Essays

Language is the organized speech used as our means of communication. It is a differentiated system as used by a section of human race. A second language is learned after the mother tongue. We will write a custom essay sample on School Curriculum or any similar topic only for you Order Now It is an advantage to speak several languages since we are associated to multi-cultural environment, a preparation to orientation and exposure to variety of languages in the workplace. A second language contributes to the preservation of different cultural identity within a unified society and the medium of instruction of worldwide scope in education, business and different professions. Studies show that bilingual children score higher on standardized tests than those who speak only one language. In fact, students who have studied a foreign or second language for four or more years scored higher than students who had studied other subject for the same number of years. Finally, students who have studied four years of foreign or second language scored higher in mathematics than students who had taken four years of Math (Cook 45). Acquiring fluency and eloquence of a second language must be done in several yet systematic stages. The basis of language such as sound, vocabulary, grammar, enunciation and so on must be rigidly developed. There must be a learning situation which is generally applicable to learners of different first language backgrounds. The ideal time to start teaching is in childhood wherein a child can learn up to five different languages if a child is commonly exposed to this, commonly the language used in the household regularly. Children and adolescents respond more readily by means of cognitive and academic approaches. So each age range would seem to have pros and cons with regards to language learning. If on educational, political and philosophical grounds children are to be introduced to second languages based on psychological needs, it cannot be the only consideration. Age is not certainly the individual factor in language learning. Cognitive factors, style, personality, attitudes and motivation play a vital role in this complex question of second language learning. Correction of grammatical and enunciation errors does not have a direct influence on learning a second language. However instruction may affect the rate of learning but will undergo the same stages. Children and adolescents who know the systematic way of learning the second language comprehends faster than those who do not (White 354-356). Learners of the second language have knowledge that goes beyond the input they received in other words the whole is greater than the parts. Learners are able to construct utterances of phrases, sentences and questions that they have never seen or heard before. Furthermore children and adolescents who have limited input still acquire the first rather than the second language. Bilingual education should be repaired not replaced. It helps provide long periods of total English immersion as well as opportunities to interact with native speakers. There are several teaching methods that will help primary and secondary students learn a second language. The immersion training of which where regular hours are spent in schools in studying the language, taking a distinct language subject, the grammar translation method and the direct method. In the grammar translation a method student are instructed in grammar and are provided vocabulary with direct translations to memorize and was predominant in Europe in the 19th century. Today most instructors acknowledge the infectivity of the method itself and for written languages also. The teaching of grammar consists of a process of training in the rules of a language which must make it possible to the students to correctly express their opinion, to understand the remarks which are addressed to them and to analyze the text which they read. The objective is that after primary and secondary, the pupil controls the tool of the language which are the vocabulary, grammar and the orthography. By this time a pupil can be able to read, understand and texts in various contexts (Mangubhai 156-158). The teaching of grammar examines the texts and has developed the awareness of language constitutes a system which can be analyzed. This knowledge is acquired gradually by traversing facts of language syntactic mechanism, going from simplicity to complexity. The teacher is supposed to correct the exercises so that the pupil can follow his progress in practicing the language through comparison of results. The direct method, sometimes also called natural method, is a method that refrains from using the learners’ native language and just uses the target language. It was established in Germany and France around 1900. The direct method operates on the idea that second language learning must be an imitation of first language learning, as this is the natural way humans learn any language – a child never relies on another language to learn its first language, and thus the mother tongue is not necessary to learn a foreign language. This method places great stress on correct pronunciation and the target language from outset. It advocates teaching of oral skills at the expense of every traditional aim of language teaching. According to this method, printed language and text must be kept away from second language learner for as long as possible, just as a first language learner does not use printed word until he has good grasp of speech. Learning of writing and spelling should be delayed until after the printed word has been introduced, and grammar and translation should also be avoided because this would involve the application of the learner’s first language. All above items must be avoided because they hinder the acquisition of a good oral proficiency. India with its huge population and apparent new boom for English learning as mentioned by Gupta (12-18) is also a large beacon of English learning. Just these two countries alone and their appetites for English education give us a new sense of the increased diversity of language ownership; something Phan Le Ha (456-458) touches on in her article on the internationalization of the language and non-natives increasing critical role in teaching, development and learning. It signals the reality that those learning English will be significantly entered around or originating from Asia. Therefore educators need evermore to recognize the importance and distinctive context based needs of those requiring education in English outside the traditional native speaker contexts. This is not inherently contradictory with those with persistent arguments that many general principles of acquisition should be understood and appropriately applied by educators within their distinctive classroom settings and communities. Chew (144-149) in her article on reviewing the evolution of syllabi in Singaporean English education, indicates that the single centred approach to a syllabus may be ebbing, increasingly substituted by a more eclectic one. Whether this experience will be replicated in other countries in the region, may be difficult to exactly say. It may be that we are in a period of the â€Å"end of methods†. But like others in different social sciences who harkened the end of ideology, it may be more prudent to view change as largely evolutionary with recurring ebbs and flows depending upon the current contextual streams of challenges. However, the attractiveness of task based learning relates not only to the enumerated benefits. It provides rather a useful practice that that can be applied across many approaches, as well as boundaries. Task based learning may provide an enduring legacy that meets the test of time. It may also provide a curricular and syllabus framework of flexibility that logically students and teachers will be drawn to even if it need not be the central leitmotif for certain places. For example, tasks could include, completing a grammar bingo game after a contrastive analysis, grammar-translation based presentation. Subsequently, task based communicative teaching practices could be supported to incorporate the appropriate grammar into developing two way oral skills through an interview exercise. Again, the task approach does not deny that in some Asian classes -or anywhere in the world for that matter- that certain traditional approaches need to have their day. Rather it is especially supportive of an integrated approach, or even where the needs of the learner may be solely communicative. However, again task selection and development is the key to better ensure specific needs are met. In doing this, the educator needs to be conscious of principles and aspects of acquisition. In this respect Ellis (203-206) has so well summarized here with authority and clarity the general understanding in the profession on instructed language learning. We are further faced with the fact that the true task of learning a second language in the many EFL environments that Asian learners find themselves are removed from a lot of ‘naturalistic†, non-classroom, English speaking settings. Such an understanding of these realities and the principles that surround realistic classroom learning can be of service to classroom teachers wondering what methods, approaches and practices to choose at a specific time. It reminds us of the value of the extensive reading programmes to which Helgesen (514-516) alludes can be so useful for Asian learners where they are limited in their accessibility to communicative English in a natural environment. Teachers in such contexts may need to be reminded, at times to extend the task work outside the classroom with proper direction that permits students to develop independent learning skills that facilitate students to do the extensive work necessary to gain fluency. In cultures where top down approaches are in the main, instructors be they native teachers or not, need to be cognizant of these realities and limitations. We can not simply, for example, put all learners on the Internet or through CALL, clap our hands and say â€Å"go to it†. Again learning context, as related to acquisition can be highly relevant, which Ellis (256-258) would seem to imply. The process of language learning can be very stressful, and the impact of positive or negative attitudes from the surrounding society can be critical. One aspect that has received particular attention is the relationship of gender roles to language achievement. Studies across numerous cultures have shown that women, on the whole, enjoy an advantage over men. Some have proposed that this is linked to gender roles. Doman (511-512) notes in a journal devoted to issues of Cultural affects on SLA, â€Å"Questions abound about what defines SLA, how far its borders extend, and what the attributions and contributions of its research are. Thus, there is a great amount of heterogeneity in the entire conceptualization of SLA. Some researchers tend to ignore certain aspects of the field, while others scrutinize those same aspects piece by piece. â€Å"Community attitudes toward the language being learned can also have a profound impact on SLA. Where the community has a broadly negative view of the target language and its speakers, or a negative view of its relation to them, learning is typically much more difficult. This finding has been confirmed by research in numerous contexts. A widely-cited example is the difficulty faced by Navajo children in learning English as a second language. How to cite School Curriculum, Papers

Regulatory Framework Existing In Australian And Convergence With Ifrs

Question: Discuss about the Regulatory Framework Existing In Australian And Convergence With Ifrs. Answer: Introduction Each company has their own regulatory framework as to how to function, how to present the financial statements in the particular manner, how to disclose the companys intentions of expansion of the business in future and how to comply with the statutory compliances and etc. For each of the work the governing country Government of the company develops such a regulatory framework which will not help the companies to formulate their financial statements but also will help the regulators to check whether the required companies are complying with the requirements of not. In this review, at first the regulatory framework in respect of the accounting has been explained. It has detailed how the regulatory framework has developed over the years and how the accounting standards have developed over the years and how its compliances have been made. The reference has been made to Finance Reporting Council, Australian Accounting Standards Board and Corporations Act 2001. Thereafter, in the next, co nvergence of Australian Accounting Standards with the framework set for International Financial Reporting Standard has been developed. How International Financial Reporting Standard has been formulated and how the Australian Government has standardized their processes to apply these. Thereafter, the study has been ended with the concluding paragraph stating that the review has been useful to the users of the financial statements. Regulatory Framework in Australia The financial system of Australia is governed by various components which in itself constitutes the regulatory framework. This regulatory framework reduces the chances of any working or incorrect information to be passed on to the users of the financial statements. Before proceeding with the regulatory framework, it is necessary to have an understanding of the accounting system and how the financial statements are made available to the users of the financial statements. An accounting is the process of identifying, classifying and recording the transaction of the company at one place. Thus, emerges the books of accounts. Keeping books of accounts in the good condition is one of the major objectives of each and every organization. From these books of accounts the companys financial statements including the balance sheet at the particular point of time, statement of profit and loss for the particular period, statement of changes in equity and the cash flow statement is prepared. Balance sheet describes the financial position of the company at the particular point of time, statement of profit and loss provides the value of the net profit earned or loss suffered during the year, statement of changes in equity provides the changes in the share capital and the reserves and surplus of the company during the year and the cash flow statement will depicts that the total cash inflows and cash outflows made by the company in three different activities namely ope rating, investing and the financing. These financial statements are then presented to the auditors of the company to report thereon. Thereafter in the annual general meeting of the company, the auditor report is approved and annual report is published of the company. The annual report of the company contains the financial statements of the company along with the auditor report and the notes to the financial statement of the company. These then are made available for the users of the financial statements. The users of the financial statements are those persons whose decision can be affected by the annual report of the company and includes shareholders, banks and financial institutions, employee and government authorities under which the company performs its function and other stakeholders. The users take the decision on the basis of the analysis of the financial statements they made and the interpretations thereon. In this way, the accounting is very important for every organization whether it is big or small (Deegan, 2010). For keeping and maintaining the books of accounts there shall be defined framework. Framework is the structure, plan or layout of how to proceed and complete the work in an effective and efficient manner. Framework is regarded as the platform which has been defined as per the need and requirements and the work is done accordingly. Similarly for accounting also there has been framework which has been developed by the Australian Government. The need of the intervention arises in the nineteenth century only. Prior to this there has been no accounting framework. In the thirteenth century the double entry book keeping has been experienced in Italy and with the passage of time in the fifteenth century almost all the countries have started following the double entry system of book keeping. After the establishment of the professional bodies chartered accountants, public accountants and society for accountants the company the need for having the financial statements duly prepared by the manag ers and duly certified by the auditor and adopted by the members of the company has arisen. Although the financial statements have been prepared and authenticated by the company but the contents of the annual report have still not be prepared. In the year 1998, Australias financial regulatory framework has laid down the three elements which are described as three agencies which regulates the financial system of the companies operating in Australia: APRA Australian Prudential Regulation Authority The authority which has the responsibility of supervising and controlling the prudential aspect ASIC Australian Securities and Exchange Commission It has the responsibility of protecting interest of the investors by regulating the market in good condition RBA Reserve Bank of Australia It has the authority and responsibility of regulating the financial system of whole of Australia by defining and laying down the fiscal and monetary policies including the budget formulation for the whole of county and declaring and expecting the GDP rate and other growth rates (Australian Government Official Website, 2017 and Reserve Bank of Australia, 2017). Australian existing regulatory framework consists of four major components: Prudential Framework Consumer Protection Corporate and Market Regulation and Market Discipline Market Discipline - This component is the base of the Australian Regulatory framework. Market of the every country has been the complex in nature from the very starting. With the complexity and the quantum of the transactions that have taken place or will take place only, the persons who are going to have or gain loss will be the best to understand the market conditions. Thus, this component is best framed by the presence of the customers, investors, shareholders, creditors and other similar parties. Also the effectiveness of this component will depend up on how far the company provides the information to the users in order to determine the risk and return relationship and the trade offs of any. Corporate and Market regulation The major aim of this component is to ensure that the companies provide all the information to the users of the financial statements in an accurate manner and that too in timely manner. The corporate regulation framework is under the direct control of the Australian Securities and Investment Commission. It provides the rules and regulations for registration of the company, defining and establishing its objectives and how the company will work in accordance with the defined objectives, filing of annual financial statements of the company along with the director and the auditor report and majorly for the protection of the interest of the investors, shareholders and the outside liability owners. In the directors report the board of directors have to mention at the end of each year whether the company will be able to pay off its debt in the near future. Thereafter, the auditor will have to check the accounts of the company on an independent basis without any bias and issues his report thereon. Further within this component, it is mentioned that if the companies wants to get their securities listed on the stock exchange then they have to follow some more formalities that will mandate for the company to provide more and extensive information for the shareholders and the other investors. The stock exchange like requires the listed entities to disclose all the relevant information related to the company affairs on the timely basis that have the positive or negative effect on the share price of the company. This direction and monitor entails that the financial position of all the companies are under close scrutiny Consumer Protection This component deals with the proper transmission of the financial and non financial information of the company to the prospective customers. Customers generally are unaware from the risk that may happen in the normal course of market. It is because of the fact that the customers are generally informed with the inaccurate figures and which does not correspond to the actual figures through which proper risk assessment can be done. For instance the customer purchases the insurance product from the company having the information that this product is vulnerable to market risk and will only give the profit. But in actual the same is in loss as at the current date. In this way, customers protection is the third major component of the Australian regulatory framework. Prudential Framework The most important role of the prudential regulations is that the chances of getting the operating companies as failure will be less. To carry on with the prudential framework the Australian Government has laid down the APRA Australian Prudential and Regulation Authority. There are four major elements in the prudential framework Regulation This element will help in defining the standards to have in place for the Mentioning the acceptable behavior of the companies prevailing in the market and to advocate the process of having the sound risk management in the company. Supervision This wing will help in facilitating the speedy and the early detection of the financial difficulties if any being faced by the operating companies and to ensure the adequate compliance with the regulations. Intervention of APRA There will be the ways through which the authority can enter to operate the companies effectively by either changing the management of the company of by affecting the demerger of the loss segment or the merger with the large company or the acquisition of the competitor company to have synergies. Winding Up Last component has been described as the winding up of the company. In case the company stops the functioning and is not able to perform as per the two components and even after the intervention of APRA then the company shall apply for winding up or shut down (Reserve Bank of Australia, 2017). Also the in the year of 1997, Australian government has moved for following Setting of the body for preparing the accounting standard The members of the body shall act in an independent manner The council will be formed which will regulate the functioning of the accounting standard setting body. And finally to make the standards applicable for all the companies working in Australia. Thereafter the regulatory framework have been further developed by the Corporations Act 2001 which have focused on the true and fair view of the financial statements along with the application of the relevant and applicable accounting standards in the full spirit. In this manner, the regulatory framework is operating in the country of Australia. Convergence with IFRS International Financial Reporting Standards have superseded the relevant accounting that is being applied by the companies operating in Australia. Australian Government has laid down their accounting standards. But the International Financial Reporting Standards setting body has laid down that in addition to the financial statements prepared in accordance with the Australian accounting standards, the company have to follow the International Financial Reporting Standards framework as it has been made mandatory for globally. International Financial Reporting Standards have become applicable from first of January two thousand and five. It comprises of the following two major portions: Series of accounting standards will run parallel. One is International Financial Reporting Standards and other one is International Accounting Standards. Interpretation of both the committees One by the Standing Interpretations committee for old standards and second by the International Financial Reporting Interpretations committee. Through the direction of the regulatory body Financial Reporting Council, the International Financial Reporting Standards has made mandatory for the companies listed under the Corporations Act, 2001 and will begin from the period starting from first of January two thousand and five. Thus, the financial statements so prepared by the company in accordance with the Australian Accounting Standards shall also be prepared in accordance with the International Financial Reporting Standards. As per the Australian Accounting Standards, any transaction or event that has taken place in the profit making entity or no profit entity, the recording of the transaction will be the same and will be entered in the same manner. Whereas while complying with the relevant International Financial Reporting Standards, the difficulties have been faced in case of no profit entity and therefore the specific needs have been satisfied (AASB, 2017). Australian Government has prescribed two tiers of reporting requirements which is helpful in creating the General Purpose Financial Statements. There are as follows: Australian accounting standards and Australian accounting standards with the reduced or less disclosure requirements. International Financial Reporting Standards have stepped into the tier 1 structure of accounting standards. Tier 2 structure specifies the ways of measurement, recognition and the presentation of the financial statements of the company. Thus, an International Financial Reporting standard has become the tier 1 in the structure and its disclosure requirements and other specification have been mentioned as per the tier 2 structure. Tier 1 structure are mandatory to be applied by the Profit making companies who possess the public accountability The Government funds, state and local governments including the local authorities. The following entities may apply tier 1 or tier 2 structures: Profit making companies who do not possess the public accountability No profit making entities and Public sector undertakings other than the Australian government, state or local authorities like government owned companies. As already discussed, tier 1 companies have to comply with the International Financial Reporting Standards along with the application of the relevant Australian accounting standards and shall contain the explicit statement that the company has complies with the International Financial Reporting Standards. Few International Financial Reporting Standards have been applied universally irrespective of the fact that whether the compliant company comes under the category of tier 1 structure or tier 2 structures. These International Financial Reporting Standards are: Presentation of Financial Statements Statement of Cash Flows Accounting policies, changes in accounting estimates and errors Earlier to introduction of International Financial Reporting Standards, Australia has not adopted International Accounting Standard 26 on Accounting and reporting of the retirement benefit plans of employees. But after the introduction of International Financial Reporting Standards, the companies in Australia have to apply the International Financial Reporting Standards on retirement benefit plans of employees (IFRS Foundation, 2016). To have deeper knowledge of the standardization of International Financial Reporting Standards, the example of AASB 117 on accounting for leases has been selected. Thus standards states that there are two leases and while entering into any transaction, it shall be bifurcated and understood whether the lease is an operating lease or financing lease. In case of operating lease the lease rentals are charged to the profit and loss statement and have been expensed in the year in which it is incurred and paid. It does not recognize the corresponding asset or liability in the financial statements of the company at the yearend (Chua Y and Cheong C, 2012). The asset or liability if any arises is disclosed in the notes to accounts and remains as off the balance sheet item. In this the economic position of the company cannot be depicted in the real terms. Whereas as per the International Financial Reporting Standards number 16 on leases, there is no bifurcation is required to be made rather the asset or liability needs to be created at the end of the financial year. The financial position as well as the financial performance can be easily judged and the users can take maximum benefit of it. With the adoption of this International Financial Reporting Standards many airline companies and retail sectors will start having the true and fair view of the financial statements and moreover there will be no level playing field for them. Australian Government has now changed their perspectives and has standardized their function accordingly. Conclusion Every company shall have proper framework in which it can perform its function in an efficient and effective manner. In this literature review the history of the regulatory framework in respect of the accounting of the financial transactions of the companies have detailed with respect to the origin of the accounting, origin of institute of chartered accountants and thereby auditors, and then the development of Australian regulatory framework for accounting through the accounting standards body and Finance Reporting council. Thereafter the International Financial Reporting Standards have been explained in regard to its convergence with Australian Accounting Standards and have detailed how the Government of Australia have taken up the task of incorporating the International Financial Reporting Standards in their regulatory framework of two tier structures. In order to conclude the review has been the extensive and the users will have now more information about the company in their annu al report through the introduction of International Financial Reporting Standards. Executive Summary The financial statements are the backbone for each and every organization without which no company can function properly. It tells about the financial position of the company at the particular point of time and financial performance for the particular period end. If the financial statements have not been prepared in accordance with the framework of the accounting then the financial statements will be futile serving no purpose to the users of the financial statements. In this review the regulatory framework of accounting in the country of Australia have been explained and it has been detailed that how the framework have developed over so many years. What are the bodies which are regulating and monitoring the compliance of the prevailing regulatory framework? Whether the framework is being compiled by the applicable reporting entities or not in the full spirit? Further the regulatory framework has been extended to the International Financial Reporting Standards Application and it details that how Australia has standardized their framework and the accounting standards in accordance with the International Financial Reporting Standards in order to give uniform and correct picture of the financial statements. Thus, to summarize, the Australian regulatory framework has been fully standardized for adoption of International Financial Reporting Standards. References AASB, (2017), What is an IFRS and How does it affect Accounting in Australia, available on https://www.aasb.gov.au/About-the-AASB/For-students.aspx Australian Government Official Website, (2017), Strengthening the Financial Reporting Framework available at https://archive.treasury.gov.au/documents/403/HTML/docshell.asp?URL=Ch6.asp accessed on 27/04/2017. Chua Y and Cheong C, (2012), The Impact of Mandatory Adoption of IFRS on Accounting Quality : Evidence from Australia, available at https://www.aaajournals.org/doi/abs/10.2308/jiar-10212?code=aaan-site accessed on 28/04/2017. Deegan C, (2010), An Overview of the Australian External reporting Environment, available at https://www.slideshare.net/joshuatuisawau/deegan5e-ch01 accessed on 27/04/2017. IFRS Foundation, (2016), IFRS Application Around the World : Australia, available on https://www.ifrs.org/Use-around-the-world/Documents/Jurisdiction-profiles/Australia -IFRS-Profile.pdf accessed on 28/04/2017. Reserve Bank of Australia, (2017), Australias Financial Regulatory Framework, available on https://www.rba.gov.au/publications/annual-reports/cfr/2002/aus-fin-reg-frmwk.html accessed at 28/04/2017.

Minimum Wage Essays - Labour Economics, Employment Compensation

Minimum Wage ?An increase now will boost income for the poorest workers without the danger of creating more unemployment.?, states the New York Times in September 1999. Is this statement about an increase in minimum wage really true? There are two sides to the debate about minimum wage that both hold valid points. The minimum wage is a major issue in the world of economics and politics. Political figures often prey on the public's general ignorance of economics and promise to increase the minimum wage. Economists ,on the other hand, view the long term effects and see the damage it can cause. David Card and Alan Kruegur, two economists at Princeton University conducted a study in April 1992 on New Jersey's 18% minimum wage increase while Pennsylvania's minimum wage remained the same. They measured the change in employment in the state's fast ? food restaurants between February and December that year. Card and Kruegur found that the number of jobs grew in restaurants where pay had to rise, compared with those already paying more than minimum was and compared with joints in neighboring Pennsylvania, where the minimum did not change. The study also found no difference between high- and low- wage states. Most people would be delighted to here the above. They would receive more money and their standard of living would increase. But most people do not take into account the negative side effects of increasing the minimum wage. The survey taken by Card and Kruegur was done over the telephone. Fellow economists charge that the questions were vague and errors crept into the numbers. Another study was done using the businesses payrolls found that New Jersey fared far worse than Pennsylvania. Positive effects of the minimum wage can be the obvious; more money for people. They would have more money to spend , the economy would boom and everyone would be happy. Not so; in fact, this would only encourage inflation and increase prices. Money become lesser in value and producers would have no choice but to raise prices in order to make profit. Another negative aspect of raising the minimum wage is unemployment rising. Supply of workers would exceed the demand for workers. Employers would only be able to hire a lesser number of workers. It may also influence teenagers to leave school for a high paying job and make it more difficult for teenagers looking for work to find jobs. Low skilled workers would be left without jobs, seeing as how it only make sense to hire the higher skilled worker verses the lower skilled worker. The minimum wage debate is a touchy issue among many economists and political figures. While there are some positives aspects, the negative far out away the positives.

How to Edit Quotes in an Essay

How to Edit Quotes in an Essay How to Edit Quotes in an Essay Quoting sources is vital when writing an essay. But what if the quote doesn’t fit the surrounding text? Or what if it’s too long? The good news is you can change a quote if you need to. But you also need to highlight your edits clearly in the text. Check out our guide below, then, to find out how to edit quotes in academic writing. Omitting Text from Quotations with Ellipses If a quote is too long, it may interrupt the flow of your writing. For instance: Smith (2007, p. 24) describes blancmange as â€Å"a sweet dessert that is generally made with milk or cream and sugar, although I also once had one that contained none of these ingredients, that has been thickened with gelatin, corn starch or Irish moss.† The middle part of this quote isn’t necessary for describing blancmange, so we might want to leave it out. To do this, we would use an ellipsis to show where we had cut something from the original source: Smith (2007, p. 24) describes blancmange as â€Å"a sweet dessert that is generally made with milk or cream and sugar†¦that has been thickened with gelatin, corn starch or Irish moss.† We now have the text we wanted to quote, but we haven’t had to include the middle bit. This makes it clearer and more succinct. Keep in mind, too, that you can write an ellipsis in several ways, including: In square brackets [†¦] Spaced (. . .) or unspaced (†¦) With a space before and after the ellipsis or without spaces As such, always check your style guide for advice on how to write ellipses. If you do not have a style guide, simply apply one type of ellipsis consistently. Changing or Adding Words in Quotations You can edit quotes by changing or adding words in order to: Integrate quoted text into your own writing Clarify the meaning of something Correct an error in the original text If you do any of these, use square brackets to show where you have changed the original text. For example, imagine we found the following in a book: Blancmange is delicious. The first time I ate it, I was in love. We might then want to quote the second sentence. But without the first sentence, it wouldn’t be clear what the â€Å"it† refers to. As such, we could edit the second sentence so that it works by itself: Smith (2007, p. 31) says, â€Å"The first time I ate [blancmange], I was in love.† It is now clear what Smith is saying without having to include the first sentence, but the reader can also see where we have changed the quote. Marking Errors in Quotations Finally, what if you don’t want to change an error in a quote? Or what if it contains something that looks like an error, such as an old-fashioned spelling? In cases like these, you can use the Latin term â€Å"sic† to show that you’ve kept something non-standard from the original text. This is short for sic erat scriptum, which translates to â€Å"thus was it written.† Usually, to use â€Å"sic† like this, you would place it in square brackets: His writings were riddled with errors due to his addiction, which he described as â€Å"a terrible but delishus [sic] shame† (Smith 2017, p. 2). The reader will then know that the spelling â€Å"delishus† comes from the quoted text, so it is not a transcription error. Unless you have a good reason for preserving an error, though, it is usually better to fix it and put the correction in square brackets instead. Summary: How to Edit Quotes in an Essay If you need to edit quotes in your writing, keep the following in mind: Use an ellipsis to indicate omissions in the text. Check your style guide for how to format ellipses (e.g., in brackets or not, spaced or unspaced). Mark additions or changes by placing the edited text in square brackets. Use the term â€Å"[Sic]† to show that you’ve duplicated an error from a source. This will ensure the reader doesn’t think you’ve made a mistake yourself. Different style guides may vary on these rules, so make sure to check yours if you have one. And don’t forget to have your work proofread.

Al-Khwarizmi, a Pioneering Astronomer and Mathematician

Al-Khwarizmi, a Pioneering Astronomer and Mathematician Al-Khwarizmi​ was also known as Abu Jafar Muhammad ibn Musa al-Khwarizmi. He was known for writing major works on astronomy and mathematics that introduced Hindu-Arabic numerals and the idea of algebra to European scholars. The Latinized version of his name gave us the term algorithm, and the title of his most famous and important work gave us the word algebra. What Professions Did Al-Khwarizami Have? Writer, scientist, astronomer, geographer,  and mathematician. Places of Residence Asia, Arabia Important Dates Born:  c. 786Died:  c. 850 About Al-Khwarizmi Muhammad ibn Musa al-Khwarizmi was born in Baghdad in the 780s, around the time Harun al-Rashid became the fifth Abbasid caliph. Haruns son and successor, al-Mamun, founded an academy of science known as the House of Wisdom (Dar al-Hikma). Here, research was conducted and scientific and philosophic treatises were translated, particularly Greek works from the Eastern Roman Empire. Al-Khwarizmi became a scholar at the House of Wisdom. At this important center of learning, al-Khwarizmi studied algebra, geometry, and astronomy. He wrote influential texts on the subjects. He appears to have received the specific patronage of al-Mamun, to whom he dedicated two of his books: his treatise on algebra and his treatise on astronomy. Al-Khwarizmis treatise on algebra, al-Kitab al-mukhtasar fi hisab al-jabr waÊ ¾l-muqabala (â€Å"The Compendious Book on Calculation by Completion and Balancing†), was his most important and well-known work. Elements of Greek, Hebrew, and Hindu works that were derived from Babylonian mathematics of more than 2,000 years earlier were incorporated into al-Khwarizmis treatise. The term al-jabr in its title brought the word algebra into western use when it was translated into Latin several centuries later.   Although it sets forth the basic rules of algebra, Hisab al-jabr wal-muqabala had a practical objective: to teach. As al-Khwarizmi put it: ...what is easiest and most useful in arithmetic, such as men constantly require in cases of inheritance, legacies, partition, lawsuits, and trade, and in all their dealings with one another, or where the measuring of lands, the digging of canals, geometrical computations, and other objects of various sorts and kinds are concerned. Hisab al-jabr wal-muqabala included examples as well as algebraic rules in order to help the reader with these practical applications. Al-Khwarizmi also produced a work on Hindu numerals. These symbols, which we recognize as the Arabic numerals used in the west today, originated in India and had only recently been introduced into Arabic mathematics. Al-Khwarizmis treatise describes the place-value system of numerals from 0 to 9 and may be the first known use of a symbol for zero as a place-holder (a blank space had been used in some methods of calculation). The treatise provides methods for arithmetical calculation, and it is believed that a procedure for finding square roots was included. Unfortunately, the original Arabic text is lost. A Latin translation exists, and though it is thought to be considerably changed from the original, it did make an important addition to western mathematical knowledge. From the word Algoritmi in its title, Algoritmi de numero Indorum (in English, Al-Khwarizmi on the Hindu Art of Reckoning), the term algorithm came into western usage. In addition to his works in mathematics, al-Khwarizmi made important strides in geography. He helped create a world map for al-Mamun and took part in a project to find the Earths circumference, in which he measured the length of a degree of a meridian in the plain of Sinjar. His book Kitab surat al-ará ¸  (literally The Image of the Earth, translated as Geography), was based on the geography of Ptolemy and provided the coordinates of approximately 2,400 sites in the known world, including cities, islands, rivers, seas, mountains, and general geographical regions. Al-Khwarizmi improved on Ptolemy with more accurate values for sites in Africa and Asia, and for the length of the Mediterranean Sea.   Al-Khwarizmi wrote yet another work that made it into the western canon of mathematical studies: a compilation of astronomical tables. This included a table of sines, and either its original or an Andalusian revision was translated into Latin. He also produced two treatises on the astrolabe, one on the sundial and one on the Jewish calendar, and wrote a political history that included the horoscopes of prominent people. The precise date of al-Khwarizmis death is unknown. Sources Agarwal, Ravi P. Creators of Mathematical and Computational Sciences. Syamal K. Sen, 2014th Edition, Springer, November 13, 2014. OConnor, J. J. Abu Jafar Muhammad ibn Musa Al-Khwarizmi. E. F. Robertson, School of Mathematics and Statistics, University of St Andrews, Scotland, July 1999. Surhone, Lambert M. (Editor). The Compendious Book on Calculation by Completion and Balancing. Miriam T. Timpledon, Susan F. Marseken, VDM Publishing, August 10, 2010. The Editors of Encyclopaedia Britannica. Al-Khwarizmi. Encyclopaedia Britannica, July 20, 1998.

Reseach approach Essay Example | Topics and Well Written Essays - 1750 words

Reseach approach - Essay Example Numerous researches and studies are directed on definition of the problem deeply rooted in the minds of Americans who consume junk food and the number of obese people is growing from year to year. This research paper provides a look of the Interactionist Perspective on the problem of obesity among children. It implies that under pressure of surrounding obese people, a healthy individual would become obese also. Therefore, a parental influence within the family may turn a healthy child in an obese one. Moreover, in accordance with the recent studies, low incomes of families, a low level of education and other negatively influencing socio-economic factors prevent children from exercising and obtrude often eating upon them. Thus, within a peer group an obese individual feels himself comfortable, but in the society he is perceived as a deviant one. Children obesity is greatly triggered within their families if their parents are obese and it is natural of them to eat huge amounts of food. The often eating custom of a certain family turns into a bad habit of their child. The Interactionist perspective is incorporated in the discussion about obesity among children further on. ... Healthcare costs are greatly influenced by obesity. â€Å"World Bank has claimed that the cost of obesity at 12 percent of the nation’s healthcare budget† (Department of Health and Human service, 2000). The costs of obesity cause negative influences on individual and governmental levels. Therefore a struggle against obesity must be held on governmental level because it is an intimidating factor for all nations’ health. There is a need to propagate healthy way of life and increase living standards of ethnical minorities and Americans with lower socioeconomic status. Literature Review: Economic factors Lower incomes lead to high levels of junk food consumption. Affordability and availability of this kind of food increases obesity levels. In accordance with National Health and Nutrition Examination Survey (NHANES) data, â€Å"there are more obese among non-Hispanic white adolescents from families with low income than from families with higher income families. Obese people among non-Hispanic blacks and Mexican-American children have no low income in their families, on the other hand† (Troiano & Flegal, 1998). Healthy Foods Access Low income of people leads them to wrong food choices: thus people decide to buy food with higher calorie levels due to its lower price (Morland a), 2002).Healthy food costs more than junk food (Drewnowski & Specter, 2004). Data obtained from the study conducted in 2002 signifies that â€Å"†¦there are three times as many supermarkets in wealthy neighborhoods as in poor neighborhoods, and four times as many supermarkets in predominantly white neighborhoods as in predominantly African-American ones (Morland b), 2002). Physical Activity Factors Another