Thursday, October 31, 2019

Contemporary Issues in Organisational Behaviour Essay

Contemporary Issues in Organisational Behaviour - Essay Example In order to understand what information technology does to organisational behaviour, one should understand what information technology does in an organisation. Its main functions are information capture, information storage, information manipulation, and information distribution. It is found that computer system increased the amount of factual information, increased the involvement of employees in decision making especially related to computer issues, and increased the ability to check on activities in real time. As Bakan et al (n.d.) point out, with this increased presence of information technology, it has become possible for employees to feel that they get easy access to correct information and also that they can easily influence the decisions and behaviours of others. Though the above mentioned are the positive side, there are a large number of challenges for the organisational behaviour. ... In addition, more and more people lose their jobs as a result of this change. Thus, there is a feeling of insecurity and fear in employees around the world. This is one of the most important challenges for organisational behaviour to handle at present. Along with this comes the problem of lack of motivation. Admittedly, when communication takes place through modern communication devices, and when machines replace man, there is lack of direct interaction. Thus, increased insecurity along with decreased interaction leads to a drop in motivation levels. In other words, today’s organisations are spread across various geographical areas and are connected mainly using the advanced communication technology. However, this modern technology can, at times, function as hindrances for managers in knowing their employees of distant places personally. As studies have proved, it is vital to know the culture of people to motivate them. For example, there is the study by Sohrabi, Gholipour and Amiri (2011) which found the groups that are virtually linked show less job satisfaction, less job involvement, less job commitment, and less organisational citizenship. Handling globalisation and its various effects In the opinion of Chaneta (n.d), the second major challenge is the globalisation and its various impacts. Some important aspects of globalisation that affect businesses at present are the movement of valuable skills and investments, increasing cultural diversity, immigration, job migration, and multicultural workplaces. Admittedly, globalisation leads to the creation of cultural diversity within the society and organisation. These various cultures have various attitudes and ways of interaction. For example, while the Americans believe in

Tuesday, October 29, 2019

Travel Long Distances Essay Example for Free

Travel Long Distances Essay Whenever we have to travel long distances within the country we can travel by train or by air in an aeroplane. I remember my first train journey which I performed when I was just about four years old. After that journey so long back, I have made several journeys by train but, that first journey still lingers in my mind and thoughts. We had to go to Madras, where my father had to attend a Conference. Since we had not then seen Madras and our winter vacations were falling during the dates of the Conference, it was decided that we would all go with father and make a trip to the South. Regarding the visits to different places of the South I remember next to nothing as, I was rather small but the train journey is still very vivid in my mind. There, at Madras, my father had to attend a Conference whose date was the 18th of December so; it was decided to leave for Madras on the 15th. After a long wait, at last the 15th of December came and my excitement knew no bounds. I would be going on my first ever train journey, enjoying an outing and seeing new places. The train that we had to go by was known as the G.T. Express i.e. the Grand Trunk Express and we went to the station to board it. I think it was evening time when we boarded the train. Inside we had dinner and then my parents and my elder brother all slept. I could not get sleep as, I was just too excited. I remember that, I had taken a window so that I could see the fun outside but, alas. No sooner that we had finished dinner, it was dark and nothing was visible from the window. It was only at the stops at the stations, I would peep out and see the rush and life on the platform. Seeing the stations for sometimes, I finally slept. When I woke up in the morning after a comfortable sleep at night, I was absolutely thrilled to look outside. The area the train was now crossing depicted a very beautiful cross section of land forms and greenery, mills and villages. Oh, what a panoramic beauty it all was. When the train crossed over different land forms, the sounds it made were heard changing sometimes deep grunts, sometimes a smooth flow and at other times just a thud here and thud there. When the train crossed over bridges on expanses of water, the sound was of gurgling. This medley of sounds created by the movement of the train was a wonderful experience the different stretches of huge expanses of land and water and different plantations for miles on end, showed nature in its full form and beauty. As we passed through village areas, I noticed fields of rice, wheat, mustard and vegetables. Oh what a wonderful sight of the cross-section of India. At the stations the train would stop and another scene of civilization would take over from nature, and when the train again started, the nature would again take over. This hides and seeks of scenes continued throughout the journey, and the music of terrain and water changing off and on was just stunning. This interesting scene continued for almost thirty six hours but, believe me, I enjoyed every minute of it. A mobile home with all amenities, a look at nature and also human civilization was all seen packed up as one presentation package for me. The thirty six hours had just flown by and we were at the Madras junction. I cannot forget this first journey by train even after eight years now and I do wonder if I ever will.

Saturday, October 26, 2019

Scarcity and the Unlimited Wants of Mankind

Scarcity and the Unlimited Wants of Mankind Introduction In my view, economic is a study of the how the society uses the scarcity of resource to satisfy the needs and wants of people. Different well-known economists have different interpretations of the economic statement. So, economics is not a specific answer and explanation, It is made of various well-known economists to identify the definition and awareness of economic. As we know that, economics is very important to a country, not only country, it also important to people. Body Economics is the study of resources, their scarcity and the unlimited wants of mankind. From this sentence, it was talking about economics is the study of resources, the resources are categories by 4 type of resources. Firstly, the resource of land, the land not only represents a piece of land in a country; the land is containing all the natural resources such as trees, mineral, rivers and etc. Secondly, the resource of labour, the resource of labour is mean that consists of the physical and mental abilities of a worker. The worker able to work according to the job responsibility and job routine, for example of the worker, is engineer, supervisor, manager and so on. Thirdly, the resource of capital, capital refers to goods produced in an economy that are used to produce other goods and services. For example, machines, tools, vehicle and so on. Lastly, entrepreneur, the entrepreneur is mean a person who has to organize resources for production, has an idea and able to introduce new pr oduct or techniques of production. Other than this, the person gains the rewards and bears the risks of such endeavours. An entrepreneurs purpose is bringing innovation and risk-taking. There are 3 basic economic issues which is what goods to produce and in what quantities, how to produce them and for whom to produce them? In these 3 basic economic issues, it will cause the decision making to become many changes as the scarce resources. Besides that, it also will cause the demand changes in the market, it maybe affects the quantities of using the scarcity of resources. In this case, we may choose the most appropriate, efficient, and best option in order to overcome these 3 basic economic issues. Because it can help the producer or manufacturer to make a decision which goods and service to consume and utilize by effective using the scarcity resource. From this situation, the opportunity cost will occur. What is an opportunity cost? Opportunity cost is mean that the cost of an item measured in terms of alternatives forgone. For example, a financial manager who is living in Johor state and he/she working in Singapore and earn 2500 dollars by the month but he/she need to pay for the bus fees in 300 dollars and take a long time for Johor state to Singapore. Besides that, he/she able to work in Johor state as a financial manager too. The salary by a month is RM 3500 and the company provides transportation, and take a very short time for travel from the company to his/her home. In this situation, the financial manager needs to make a decision in order to make self as convenience as possible and calculate the best reward included the transport fees, so he/she need to foregone one job to satisfy his/her desire. From this, the opportunity cost was related between scare of resource, so a company, firm or organization need to choose the bes t option to develop. Different economists have different terms, view and statement to describe and delimit the economics. The most appropriate definition is that by Lionel Robbins who defined economics as The science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Lionel Robbins as a British famous economist was defined economics as the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. In these phrases, there are few basic propositions emphasized in Lionel Robbinss definition as follows. Firstly, in this phrase, we talk about what actually meaning of human behaviour. Human behaviour in this phrase is meant that the human has unlimited human wants, even consumer. Basically human is looking for something in needs and wants to full fill their demand and able to reach their satisfaction even same as the consumer are looking for good quality of products and efficiency services. However, humans satisfaction is not fixed such as high demanding or easily satisfies, this also same as a consumer because consumer also has different satisfaction in products and services due to they are post-purchase. On the other hand, human is always insatiability in their need. The needs have to be satisfied for the life and the wants have to satisfy in order to live comfortably. Besides that, Human is also never feel satisfied as they have something they still want to get something that is better than the things they have. For example, previously we just need phones that can help us call each other, afterwards, we start to want some music in our phones, hence the radio and mp3, afterwards people have more needs, we want to be able to watch videos, internet, make video calls and so on. Limitless needs and wants make resources scarce and difficult to sustain. Therefore, needs are never-ending by the human and human was never stop working or keep hard work to earn money in order to satisfaction of their needs. Next, when human faced many options of wants, they need to choose the best one of the wants in order to achieve their satisfaction based on their limited resource. Based on the Lionel Robbinss theory, it talks about all wants are not same important, some are more important and some are less important, so we have to consider by well which wants is most important and arrange the wants we have by most important to less important. Then we choose the most important one to first and delaying the other wants. There are 4 basic resources which are land, labour, capital and entrepreneur. Sometimes these four resources will be scarcity it may cause the demand to exceed the supply. So, in order to avoid this situation occur, the decision making must be made by rational. First, lands are being inefficiency in the world, so that the people must be plan out the most effective method for using the limited land. For example, Singapore is a modern country nowadays, Singapore has fast development such as modern building, modern transportation and so on. In order to develop, it needs a large of space of land. Singapore is a country which is small and a narrow, in order to let more people living in Singapore so that, the government construct the high building to the people for live and builds more high building for other uses, thus the lack of land resource problem solved. Of course, the problem has been solved, but it spends much of funds to fetch up the defect, so it will cause Singapore to forego s ome projects and plans. Secondly, we talk about the labour, labour is referred that employee and workers which is willing to work and have the ability to work. Labour is a very important one in the 4 resources too, if a company lack of labour, which will cause many problems such as less production, the whole operation might be slowed down and so on. For example, a manufactory was facing less of labour, it caused the production is going slowing down and the packaging department was slow operation too. In order to solve the problem, the manufactory itself has to increase the salary to attract more people to come in the manufactory to work. Besides that, the manufactory also needs to buy the machine to replace the human resource. So that, the manufactory itself will be more efficiency in production, packaging and so on. Although the problem was solved, the net profit of the manufactory will decrease because of spending the income to the worker, it may cause the manufactory itself may foregone some plan or proj ect such as expand the manufactory scale and development of branches. Thirdly, we talk about the resource of capital. Capital is the items that a manufactory or a company using to produce goods and services such as machines, tools and vehicles. In other hand capital also refers to the real estate of a company or manufactory. Furthermore, a resource of capital is a very close relationship between resource of labour, it is because the capital needs labour to control or use. Resource of capital is quite important to a manufactory, firms, company and so on, it is because they using the resource of capital to serve the customer in order to earn a profit. Resource of capital is a resource which is tangible and intangible, so for the tangible capital resource will going to degradation because of the flow over time. So, some manufacturing factory or firms will renew update and be buying new capital to replace the old capital. For, example, a new manufacturing factory is full of the capital resource but lack of the technical staff and the capital resource withi n the new manufactory is used for mass production. In order to fulfil the capital resource being to control, the manufactorys labour resource manager has to hire the workers which able to control the capital to produce the product in the manufactory. If it hired the technical staff successfully, the lack of control of capital is been solved, but the manufactory are spent much of money in the salary to the workers. In this case, the headquarter has to consider by rational to make a decision as able to supply the product to the demand of the consumer as moderate as possible. In order to complete the production, they have to forgo some plans and program such as establish more branches in other areas, buy over the supplier and so on, it is because the new manufactory is spending much of money in the salary of the workers. So, it takes time to earn back the money and the other plans and program will be postponed. The last resource is the entrepreneur; an entrepreneur is a person who has the ability to organise resources for production and has the ability to introduce new products and services. The entrepreneur also has the ability to bring the innovation of the products and services, the entrepreneur also receives the reward and bears the risks. In economy, scarcity of resource will occur and not excluded entrepreneur. Why will the entrepreneur be scarcity? That was being many factors to cause it. For example, Sabah state was a second largest area of the state in Malaysia; these states are be living most poverty people, so the people unable to study in school and unable to enter a higher school because of financial problems. As an entrepreneur, besides having an education background and creativity of idea it also need the resources to produce goods and services such as land, capital, and labour resource. For example, an entrepreneur has idea to produce the product which is cloth, it needs workers, machine and place to produce this product, but the entrepreneur does not have enough too much of funds to buy over the factory and the entrepreneur only have funds to buy the machinery and able to hire some workers to work. So the entrepreneur just has to rent the factory to produce the product. In this case, the entrepreneur have to choose the best way to satisfy his/her wants if the entrepreneur spends the funds to buy over the factory it does not have enough to buy machinery and hire workers. In this scenario, the entrepreneur has to foregone to buy over the factory, so the entrepreneur can produce the product by renting the factory. Conclusion In the economy, the land, labour, capital and entrepreneur is very important to a company, manufactory and firms. When the company, manufactory and firms are facing scarcity of the resource, it needs to choose the best wants, arrange the important wants to first and postpone or foregone the less important wants. Furthermore, decision making is also very important. For the opportunity cost, for example, scarce of the resource is happened in a company, the companies headquarter has to choose the best wants in order to develop within some wants. In this case, it has to foregone the other wants. If the company headquarter has had chosen a wants to develop, after a period of time, there are no regret of chosen the wants to develop and no regret do not choose other wants before. So, in this situation, the companys headquarter have to consider by clear and be rational in order to make sure that does not feel regret after the decision is making by over a period of time. In this assignment, I was learning much of knowledge such as Lionel Robbinss theory and gain some useful information by doing internet research. Besides that, I also had an understood the 4 resources such as land, labour, capital and entrepreneur.

Friday, October 25, 2019

Symbols and Symbolism in Conrads Heart of Darkness Essay -- Heart Dar

Use of Symbolism in Heart of Darkness       Joseph Conrad played a major role in the development of the twentieth-century novel.   Many devices that Conrad applied for the first time to his novels gained wide usage in the literary period he helped to create.   Perhaps the most effective of his pioneering techniques was his application of symbolism in his novels.   In Heart of Darkness, Conrad's symbolism plays a dominant role in the advancement of themes in the novel.   These themes are revealed not through plot, but instead through the symbolic characters and elements present in the narrative.   Joseph Conrad's use of symbolism in his portrayal of the Africans, the Company, and Kurtz in Heart of Darkness illustrates the value of had work and self-restraint.      Ã‚  Ã‚   The format of Heart of Darkness is a narrative of the ship captain Charlie Marlow's experiences in the Congo Free State, told to companions on a ship moored at the mouth of the Thames River, southeast of London.   As the vast majority of the text is the story told by Marlow, the reader is intimately acquainted with Marlow‚s opinions and judgments throughout his first-person account.   Thus the relationships between Marlow and other characters in the novel are of greater importance than the characters themselves.   The actions that Marlow takes notice of are used chiefly to serve a symbolic purpose rather than to advance the plot.   The flow of the novel itself is rough and illogical at times, as Marlow's chain of thought is not entirely chronological.   This is one stylistic technique that other authors of the twentieth century, particularly James Joyce and William Faulkner, would make greater use of in their literature (Jericho 23).      Ã‚  Ã‚   The first of the ma... ...ction is not as important as the effects of that action, a world that would be exploited in the years to come.    Works Cited: Conrad, Joseph Heart of Darkness and The Secret Sharer, 1902. Signet Classic, New York 1997. Jericho, Jeremy, Tessa Krailing Joseph Conrad's Heart of Darkness Barron's 1985.    Works Consulted: Adelman, Gary. Heart of Darkness: Search for the Unconscious. Boston: Twayne Publishers, 1987. Fothergill, Anthony. Open Guides to Literature: Heart of Darkness. Philadelphia: Open University Press, 1989. Glassman, Peter J. Language and Being: Joseph Conrad and the Literature of the Personality. New York and London: Columbia: University Press, 1976. Tindall, W.Y. "The Duty of Marlow." In Conrad's Heart of Darkness and the Critics. Ed. Bruce Harkness. Belmont, California: Wadsworth Publishing Company Inc., 1968.

Wednesday, October 23, 2019

The Effects of Credit Management on the Profitability of Manufacturing Companies in Nigeria (a Case Study of Guiness Nigeria Plc

Introduction The expansion of International Trade and the accessibility to foreign stock and debt market has given rise to an increase debate on whether or not there is need to be a global set of accounting standards. As companies compete globally for scarce resources, investors and creditors as well as multinational companies are required to bear the cost of reconciling financial statements that are prepared using national standards. It was argued that a common set of practices will provide a â€Å"level playing field† for all companies worldwide (Murphy, 2000).IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and interpretation originated by the International Reporting Standards Interpretation Committee (IFRSIC) (Oyedele, 2011). IFRS represent a single set of high quality, globally accepted accounting standards that c an enhance comparability of financial reporting across the globe.This increased comparability of financial information could result in better investment decisions and ensure a more optimal allocation of resources across the global economy (Jacob and Madu, 2009). Cai and Wong (2010) posited that having a single set of internationally acceptable financial reporting standards will eliminate the need for restatement of financial statements, yet ensure accounting diversity among countries, thus facilitating cross-border movement of capital and greater integration of the global financial markets.History and Development of IFRS Globalization of capital markets is an irreversible process because of the development and growth in science and technology; there are many potential benefits to be gained from mutually recognized and respected international accounting standards. To bridge the gap between accounting standards among countries, the International Accounting Standards Committee (IASC) w as founded in 1973 by a group of professional accounting practitioners.The IASC was to formulate uniform and global accounting standards aimed at reducing the discrepancies in international accounting principles and reporting practices. In this light, the International Accounting Standards Committee (IASC) was established. Since its establishment the IASC has actively been championing the uniformity and standardization of accounting principles for over two decades (Carlson, 1997). In April 2001, the International Accounting Standards Board (IASB) took over the setting of International Accounting Standards from the International Accounting Standards Committee (IASC).Thenceforth, the IASB updated the already existing International Accounting Standards and referred to them as International Financial Reporting Standards (IFRS). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IASs were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). In Nigeria, adoption of IFRS was launched in September 2010, by the Honorable Minister, Federal Ministry of Commerce and Industry, Senator Jubril Martins-kuye (OFR).The adoption was organized such that all stakeholders use the IFRS by January 2014. The adoption was scheduled to start with Public Listed Entities and Significant Public Interest Entities who are expected to adopt the IFRS by January 2012. All Other Public Interest Entities are expected to mandatorily adopt the IFRS for statutory purposes by January 2013, and Small and Medium-sized Entities shall mandatorily adopt IFRS by January 2014. The Importance of IFRSThe adoption of uniform standards cut the costs of doing business across borders by reducing the need for supplementary information. They make information more comparable, thereby enhancing evaluation and analysis by users of financial statements (Adekoye, 2011). Users become more confident of the inf ormation they are provided with and presumably, this reduces uncertainty, promotes an efficient allocation of resources and reduces capital costs (Ahmed, 2011).Esptein (2009), emphasized the fact that universal financial reporting standards will increase market liquidity, decrease transaction costs for investors, lower cost of capital and facilitate international capital formation and flows, various studies conducted on the adoption of IFRS at country level indicated that countries that adopted IFRS experienced huge increases in direct foreign investment (DFI) flows across countries (Irvine and Lucas, 2006). Cai & Wong (2010),in a study of global capital markets demonstrated that capital markets of countries that had adopted IFRS recorded high degree of ntegration among them after their IFRS adoption compared with the period before adoption. In a study on financial data of public listed companies in 15 member states of the European Union (EU) before and after full adoption of IFRS i n 2005, Chai at al (2010), found that majority of accounting quality indicators improved after IFRS adoption in the EU. The IFRS enhances comparability and transparency of reported results, easier cross-border stock exchange listings and foreign capital funding, additional and better quality financial information for shareholders and supervisory authorities, improved quality and efficiency of financial report.Impact of IFRS As a major change program, IFRS conversion affects many parts of our organization, including systems, processes and the wider business. Therefore ultimately, IFRS success depends heavily on how effectively accountants around the world are informed about the process and their willingness to adapt to or embrace change. IFRS could have a positive or negative impact on the financial statements. For example, recognition of interest income using effective interest method may negatively impact profitability as some of the credit related fees will form part of effective interest rate computation.However, the extent of the impact usually depends on the accounting policies adopted. The impact of IFRS transcends beyond accounting and financial reporting contrary to general misconception. Beyond finance, strategies, processes, people and systems will also be impacted by the conversion exercise. The following are some of the areas in which IFRS can affect our businesses: Systems and processes: IFRS will definitely change the overall presentation and contents of financial statements e. . more disclosures is required in the financial statements; consequently, there is a need to make amendments such as reconfiguration of existing systems, interface and mapping changes, changes to the chart of accounts etc. to generate IFRS compliant financial statements. Performance Management: Performance measures are going to be significantly affected as the effective interest calculation of income, impairment calculation and fair-valuation calculation will impact perfor mance results.Staff whose performance targets have previously been set using Nigerian GAAP calculations will need to be informed of the impact of IFRS on attaining these targets on their remuneration and the amount of effort that would be required to meet these targets under IFRS. Management reporting: Extensive impact on management reporting resulting in new forms of analysis and reporting. People and Communication: The conversion to IFRS will create a competency and knowledge especially financial control staff. However extensive training and communication plans will be in place to bridge those gaps.In addition to the aforementioned, the conversion exercise may have impacts on a large number of departments outside Finance including Human Resources, Information Technology, Risk Management, Business Development, Internal audit etc. For example, HR personnel will need to understand the impact of IFRS on staff loans. Some Key Risks Associated With Converting to IFRS Some of the key ris ks management should be aware of include: Lack of effective communication of the impacts of change to stakeholders the board, audit committees, investors and analyst, the impacts on internal controls and the related processes.Excessive costs and work levels resulting from ineffective planning and the inability by management to conclude and certify on the design or effectiveness of the company’s internal controls over financial reporting. Enforcement of Financial reporting Standards in Countries around the Globe and the Key Difficulties Faced in the Implementation of the Financial reporting Standards NIGERIA There are a number of institutions and agencies in Nigeria which provide guidelines that determine what information, and in what format such information, should be included in financial reports.Such institutions are the Institute of Chartered Accountants of Nigeria (ICAN), the Association of National Accountants of Nigeria (ANAN), the Central Bank of Nigeria (CBN), Nigeria n Accounting Standards Boards (NASB). Now the Financial Reporting Commercial (FRC), National Insurance Commission (NAICOM), Security and Exchange Commission (SEC), and Corporate Affairs Commission (CAC). These institutions are ready to give up on Nigeria’s GAAP and adopt IFRS from 2012 (Hassab, Epps and Said, 2001; Iyoha and Jimoh, 2011). Mukthar, (2009) sserts that, there is no better time than now to contribute to the debate for the need and feasibility of adopting the IFRS as a financial reporting framework in Nigeria. This is due to the pronouncements by the banker’s committee (a committee of Managing Directors of banks and the Nigerian Stock Exchange (NSE) to the effect that banks and all listed companies should prepare financial statements in accordance with the IFRS. Such pronouncements were made considering that complying with IFRS will facilitate transparency and lead to more disclosure in financial statements which will be useful to stakeholders, especially f oreign stakeholders.IFRS-based financial statements stand to have added advantage in their business relationships with their correspondent banks, multilateral institutions and international investors. Companies that prepare IFRS-based financial statements are also expected to get some boost in their rating. Adoption of the IFRS in Nigeria commenced in January, 2012. UNITED KINGDOM The enforcement of IFRS is under European Enforcement Coordination sessions (EECS) and Committee of European Securities Regulations (CESR). In the UK the body responsible for enforcement of the IFRS is the Financial Reporting Review Panel.Rolf (2010) suggests in through the CESR Annual Reports in 2010 that harmonization and the enforcement of the IFRS in Europe facilitate an efficient single capital market in Europe within the context of evolving EU legislation. UK’s Department of Trade and Industry (DTI) has since pronounced that publicly traded companies in UK should apply the International Accoun ting Standard in their individual financial reporting and that all EU listed companies were required to prepare their consolidated Financial Statements under IFRS effective from January, 2005 (ICAEW, 2006’ AECA, 2010 and Rolf, 2010).PricewaterhouseCoopers (2009) has confirmed that the U. K has since complied with the requirement; also small companies (SMEs) were required to report under IFRS effective from January 1, 2012. TURKEY Sigma, (1995) and Sigma and Hosal, 2005) observed that in 1980, a series of economic decisions following the International Monetary Fund’s (IMF) recommendations were taken to reduce the inflation rate, increase production, and support importing activities. In the reconstruction period starting in the early 1980s, Act No. 499 was put into effect in 1981 by the Parliament to prepare the grounds for establishing the Capital Markets Board (CMB). BRAZIL Brazil is incorporating its accounting standards with the IFRS. According to UNCTAD (2008), the main institutions leading the convergence process are the Brazilian Securities Commission (CVM), the Brazilian Institute of Independent Auditors (IBRACON), and the Central Bank of Brazil. A number of developments have recently advanced the country’s progress towards IFRS.The Central Bank of Brazil announced that as from 2010 all financial institutions under its supervision will be required to prepare their consolidated financial statements in accordance with IFRS. UNCTAD (2008) also reports that the Brazilian Securities and Exchange Commission has promoted efforts by companies listed in capital markets in Brazil to gradually adopt IFRS. For example, the CVM has been working more closely with IBRACON to accelerate convergence with IFRS and regulatory members.Companies listed on Sao Paulo Stock Exchange’s New Market are required to provide financial statements prepared in accordance with IFRS or to the US-GAAP, in addition to those that are prepared under Brazilian accou nting standards. The Committee of Accounting Pronouncements was set up in Brazil, whose objective will be to achieve full adoption of IFRS in the country. INDIA Ravindra and Shrikhadi (2010) observed that there is a growing international consensus on the International Financial Reporting Standards as acceptable standards for assessment of the financial health of a company across the globe. Based on the recommendations of the core group set up to facilitate IFRS convergence in India, its Ministry of Corporate Affairs (MCA) announced the approach and timelines for achieving convergence with IFRS. Also the Institute of Chartered Accountants of India (ICAI) commenced the process of issuing IFRS equivalent accounting standards. ICAI stated that for companies with exposure in European markets through equity or debt, transparency on IFRS is essential to cheap capital and hence, the proactive approach. ICAI set a time line of 2011 for compulsory switch over to the new standards.SOUTH AFRICA The South African Institute of Chartered Accountants (SAICA), the Johannesburg Stock Exchange (JSE) and the Accounting Practices Board (APB) of South Africa has recognized the need to be part of a global economy with respect to financial reporting. Local accounting standards in South Africa have been harmonized with international accounting standards since 1993. In February 2004, a decision was taken by the APB to issue the text of IFRS as South African statements of GAAP without any amendments (SIACA, 2006).The reasons for the ongoing harmonizing and the issuing of the text of IFRS as South African statements of GAAP were: for South African companies to attract foreign investment, to provide credibility to the financial statements of South African companies in the global market, and to do away with the need for dual listed entities to prepare financial statements in accordance with more than one set of accounting standards (Deloitte, 2006). ZIMBABWE Zimbabwe faces a challenge of h igh inflation that is affecting the wholesome application of the IFRS.The Institution of Chartered Accountants Zimbabwe (ICAZ, 2010) recommends that the IFRS should be in full application by end of 2010. Although Zimbabwe has economic challenges, the Zimbabwe Stock Exchange it has said that IFRS compliance is mandatory to all listed companies in its Stock Exchange (Tom, 2010). Currently, a ZSE panel of experts is responsible for checking IFRS compliance. It encourages accurate and correct presentation of companies’ financial accounts including historical data and internationally comparable balance sheets and disclosure.This makes it easier for investors, including external investors. The ZSE (ZSE, 2010) added that IFRS for SME is compulsory which was expected to commence by January, 2011, also the local GAAP which was based on the 1998 version was expected to translate into IFRS. The local tax authority has yet to adopt or convergence plans of tax reporting to the IFRS. KENYA Kenya is one of the earliest countries to adopt the use of the IAS and IFRS in 1999. UNCTAD (2008) confirms that over the years, Kenya has developed a wealth of experience in the use of IFRS, which provide useful insights in he development of strategies by International Standards of Accounting and Reporting (ISAR) to aid other countries in the implementation of IFRS. There a lone stock market in Kenya, the Nairobi Stock Exchange, in which the shares of about 50 companies are traded. In addition to these listed companies, there is also a sizeable number of companies which are either multinationals or companies owned privately by the nationals, as well as a large number of small and medium-sized enterprises (SMEs). In terms of financial reporting, all the companies are required to prepare financial statements based on IFRS.In most cases, however, SMEs would prepare financial statements for use by the tax authorities or by the banks for purposes of accessing credit. Other public inter est companies such as banks, insurance companies, cooperative societies and non-governmental organizations also prepare accounts in accordance with IFRS (Caroline, 2010). UGANDA The Institute of Certified Public Accountants of Uganda (ICPAU, 2009) stipulates that Uganda has adopted IASs, SIC IFRSs and IFRIC without amendment since 1998. All openly accountable bodies are obliged to present their financial statements in compliance with full IFRS.In additional, Uganda has instructed on the application of IFRS for SMEs at the beginning of 2010. Uganda Security Exchange (USE, 2010) directed that all foreign or national companies listed on the stock exchange to comply with IFRS when the time of reporting was due. TANZANIA According to Tanzania’s National Board of Accountants and Auditors (NBAA, 2009), Tanzania shifted to IFRSs, IPSASs, and ISAs with effect from July, 2004. In that effect, compliance required all preparations of financial statements to be in accordance with the IFRS s no matter the size of the firm.Pacter (2010), observed that publicly accountable entities were required to use full IFRS including the entities that offer shares to the public, financial institutions such as banks, insurance, pension funds, mutual funds, security brokers or dealers. Also, entities that have essential public service such as utilities; and non-publicly accountable entities are permitted to use the IFRS for SMEs. In that case, all bodies using IFRS for SMEs should apply those pronouncements as issued by the IASB in full and without modification. CANADAIn January 2006, the Accounting Standards Board (AcSB) adopted a strategic plan for embracing IFRSs across the whole country for all public companies and other profit-oriented enterprises that are responsible to large or diverse groups of shareholders in Canada. From that time, AcSB proposed on its section 1506 to house the approval of IFRSs (Peter, Michael, and Ken, 2008, Deloitte, 2011). Peter (2008) recommended that: â€Å"The AcSB has recently confirmed January 1, 2011 as the changeover date to which IFRSs was supposed to replace current Canadian Standards and interpretations as GAAP† UNITED STATES OF AMERICAAICPA (2011) asserts that as far as the USA is concerned; the enforcement of IFRS has taken the following forms. From 2001 to 2004 USA has made effort to implement IFRS. In 2005; The Securities and Exchange Commission (SEC) released a roadmap allowing IFRS filings without GAAP reconciliation for foreign firms by 2009. In 2006; The IASB and the FASB agree to work on a number of major projects. In 2007; The SEC announced that it will accept from foreign filers in the U. S. financial statements prepared in accordance with IFRS, as issued by the IASB, without reconciliation with U.S. GAAP. Also, the SEC issued a Concept Release asking if U. S. public companies should be given an option to follow IFRS instead of U. S. GAAP. In2008;The SEC was expected to vote on a proposal creating a tim eline for moving U. S. public companies to IFRS, also, the FASB and the IASB updated the Norwalk Agreement with the goal of accelerating convergence. In 2009; the IASB ended its moratorium, set in 2005, on the required application of new accounting standards and major amendments to existing standards. The board had frozen its rules while more countries adopted IFRS.In 2011; Canadian and Indian companies are slated to begin using the global standards, and Japan was slated to have eliminated all major differences between Japanese GAAP and IFRS. In the United States, questions concerning IFRS are expected to be included in the Uniform CPA examination. Year 2013 is the earliest year projected by accounting firms for mandating that large U. S. public companies convert their financials to IFRS, year that the updated Norwalk Agreement expects all major capital markets to operate from one set of accounting tandards (AICPA, 2011). The year 2015 is earliest year the SEC would allow public com panies to convert their financials to IFRS (AICPA, 2011). JAPAN Japan financial reporting is guided by both international and domestic factors which fall under the Accounting Standards Board of Japan (ASBJ). From 2004 to 2010, the Japanese Institute of Certified Public Accounts (JICPA) along with ASBJ has made a tremendous move towards the harmonization between Japanese GAAP and IFRS. Some problems remained unsolved as they have to be worked on by 30 June, 2011 (Afaanz, 2011).According to ( Global Glimpses, 2009) and (Smart, 2012), Japan allowed a number of international companies the use of IFRS and some local companies to use them on their own choice for the year ending March 31, 2010. In 2012, the decision about the mandatory adoption of IFRS by 2016 is expected by the year 2013. HONG KONG Starting in 2005, Hong Kong Financial Reporting Standards (HKFRS) were made identical to the IFRS. While Hong Kong had adopted many of the earlier IAS as Hong Kong standards, some had not been adopted, including IAS 38 and IAS 39.All of the December, 2003 improvements and new and revised IFRS issued in 2004 and 2005 started taking effect in Hong Kong beginning from 2010. In 2005, implementing Hong Kong Financial Reporting Standards, the challenge sets out a summary of each standard and interpretation. The key changes it makes to accounting in Hong Kong, the most significant implications of its adoption, and related anticipated future developments. There are some Hong Kong standards and several Hong Kong interpretations that do not have counterparts in IFRS.Also there were several minor wording differences between HKFRS and IFRS (Deloitte, 2008 Tyrone, 2010). CHINA Chinese government had conducted series of accounting standard reforms in 1992, 2001 and 2006 in which each replaced the previous. According to Gingham and Haitao (2010) the Chinese accounting standards were considered to be in great conformity with IFRS. This developments confirm response to the emerging stock market and the increasing demand of foreign investors in China.Karthik, Donavan and Nancy (2005) and Romanna (2010) have however remarked that although in 2005 China converged with IFRS, but not in full compliance with IFRS requirements. The Chinese Accounting Standards Committee (CASC) is the body charged with developing accounting standards in collaboration with the Ministry of Finance (Elmer, 2011). CASC had issued new standards regarding cash flow statement, lease and other standards in conformity with the IFRS. In February 2006, the Chinese Ministry of Finance promulgated the introduction of Chinese Accounting standards based on IFRS.In January, 2007, China was obliged to adopt the IFRS so as to get placed into the global capital market (Zhang, Andrew and Collier, 2007). China is considered being the fourth world economy with far reaching economic effect regarding the application of IFRS. Afaanz (2011) argues that although China is adopting the IFRS there are challenges converg ing domestic standards with the IFRS expected to have been concluded by December 2011, and the application of IFRS to all companies big, small and medium effective January 2012.

Tuesday, October 22, 2019

How To Handle Parent And Child Conflicts Young People Essay Essay Example

How To Handle Parent And Child Conflicts Young People Essay Essay Example How To Handle Parent And Child Conflicts Young People Essay Essay How To Handle Parent And Child Conflicts Young People Essay Essay Parent-Child Conflicts are a frequent happening and are frequently portion of the natural procedure of a kid s development and growing as they adapt through life and into maturity. However, there are times when these conflicts become serious and the danger of damaging your relationship with your kid is important. This may originate a hinderance from cultivating all right and nice values. Hints that might bespeak to you that you and your kid have reached a unsafe topographic point in your relationship are frequently elusive and hard to acknowledge. They may look as alterations in feeding or kiping wonts, hanging out with a new crowd of friends or no friends at all, alterations in the manner they communicate with you or a deficiency of communicating and a important alteration in the sum of clip they spend with you or other household members. Children and striplings, at times, need their ain infinite and demand to experience a sense of control over parts of their lives that are suited f or them to command. When this happens, give them infinite while keeping your communicating with them and reenforcing that you love and back up them. From at that place, utilize your intuition as a parent to steer you in cognizing whether or non the alterations are excessively terrible. Sometimes, but non frequently, there are parents who are placed in a place of fright and concern because of the behaviour alterations their kid is traveling through. Violence can go a everyday portion of day-to-day life and people will frequently state things life, Oh, he s merely being a male child, he ll turn out of it , or She s moving out in that manner because it is what the other misss are making. Ignore it and it will travel off. Be assured that force and violent behaviours are neer acceptable and should ever be addressed by professionals. Bing a parent is non an easy undertaking to make. It is a large duty of prehending a batch of strength and unconditioned attempts. The important concern should be focused on bar of kid maltreatment, disregard and household force by supplying support systems for at-risk households. As wellness professionals, supplying an effectual counsel necessitating an apprehension of possible factors that may be lending to a kid s trouble with school or prep, and to parental defeat is an art of guidance and needs practical and logical thought. The following are inquiries normally encountered during parent-child guidance with suggested intercessions. Is the kid disorganized? a- Suggest learning the kid time-management accomplishments and memorisation schemes. a- Advise parents and defenders to look into the kid s things before he leaves place and school to guarantee that he has what he needs. a- Suggest utilizing an assignment book routed daily between instructor and parent. a- Discuss dividing assignments that are non due for several yearss into sections and finishing one measure at a clip. lt ; hypertext transfer protocol: //www.greatschools.net/cgi-bin/showarticle/ca/957/ gt ; a- Advise the parents to be function theoretical accounts at place and exterior. Does the kid have a learning disablement, an academic accomplishments shortage, a linguistic communication upset, or mental deceleration? a- Advise the parents to allow their kid fall in a particular instruction service or an individualised raining plan. a- If a linguistic communication upset is suspected, refer the kid for rating to a linguistic communication diagnostician and audiologist. a- Refer a kid who has important troubles with reading, spelling, or mathematics for a psychoeducational rating either through the school or in private. a- Understand and do non take the kid s status as a ruin of the household. Help cultivate the defects and do non restrict a infinite for possibilities of acquisition and improving. Is the kid distractible or overactive? a- Encourage prep interruptions, usage of lesson lineations, and checklists. lt ; hypertext transfer protocol: //www.greatschools.net/cgi-bin/showarticle/ca/957/ gt ; a- Suggest that siblings non prosecute in activities that compete for the kid s attending during prep clip ( e.g. , postpone picture game playing or telecasting observation until the prep period is over ) . lt ; hypertext transfer protocol: //www.greatschools.net/cgi-bin/showarticle/ca/957/ gt ; a- Advise parents to inquire the school for an single functional behaviour appraisal. a- Assess the kid for attending shortage hyperactivity upset ( ADHD ) . a- Observe safety safeguards inside and outside the place. Does the kid have psychosocial or household jobs? a- Assess the kid for psychosocial jobs such as anxiousness ; depression ; choler ; compulsions and irresistible impulses ; aggressive, oppositional, noncompliant, or antisocial behaviours ; a deficiency of societal accomplishments ; bodily ailments ; inordinate concern ; and substance maltreatment. a- Assess the kid for household jobs such as matrimonial strife, separation, divorce, remarriage, decease, medical or psychiatric unwellness, chronic parental disablement, substance maltreatment, household force, kid maltreatment, poorness, captivity of a household member, parents unemployment, and homelessness. a- Provide intercessions, including referrals, for mental wellness services as indicated. Does the parent-child relationship contribute to the job? a- Offer suggestions for bettering parent-child interactions sing prep, such as replying inquiries, supplying a puting conducive to analyze, assisting the kid pattern spelling and math, practising unwritten presentations, shopping for undertaking stuffs, and praising the kid s attempts and achievements. a- In state of affairss where parents are unable to help their kid with her prep or where tenseness between the parents and kid over prep is inordinate, suggest that an experient instructor, equal, or mature high school or college pupil provide excess prep aid. A few schools have optional plans in which kids complete prep at school after regular hours under the counsel of a instructor. lt ; hypertext transfer protocol: //www.greatschools.net/cgi-bin/showarticle/ca/957/ gt ; The household is the nucleus of us and our parents foster and shelter its growing and adulthood. Parenting is a originative manner of calculating out the demands and demands of turning up. An person is created through the battles and accomplishments of transfusing non-abusive power, straight-out authorization and secluded domination. Parents who communicate efficaciously with their kids are more likely to hold kids who are willing to make what they are told. Such kids know what to anticipate from their parents, and one time kids know what is expected of them, they are more likely to populate up to these outlooks. They are besides more likely to experience secure in their place in the household, and are therefore more likely to be concerted. Effective, unfastened communicating takes a batch of difficult work and pattern. Parents should retrieve that they will non be perfect. Parents make errors. What is of import is that parents make the attempt to efficaciously pass on with their kid s get downing when their kids are really immature. The consequence will be a much closer, positive relationship between parents and their children. lt ; hypertext transfer protocol: //www.parenting-ed.org/handout3/General % 20Parenting % 20Information/parent % 20to % 20child.htm gt ; Why are kids the last 1s to be protected against the possible immoralities of power and authorization? Is it that they are smaller, or that grownups find it so much easier to apologize the usage of power with such impressions as Father knows best or It s for their ain good ? My ain strong belief is that as more people begin to understand power and authorization more wholly and accept its usage as unethical, more parents will use those apprehensions to adult-child relationships ; will get down to experience that it is merely as immoral in those relationships ; and so will be forced to seek for originative new nonpower methods that all grownups can utilize with kids and young person. From Parent Effectiveness Training by Thomas Gordon