New UK GAAP Assignment Example | Topics and Well Written Essays - 1500 words

New UK GAAP - Assignment Example The need for a global reporting standard has gained more importance for small and medium sized organizations where the accountability of managers towards the investors are generally less transparent compared to large multi-national companies. Over the years such transparency might lead to mistrust between the owners and the managers leading to an Agency problem. Even though the advantage of general sets of international reporting standards are acknowledged, there are a certain implementation challenges at the international and domestic level if the objective of a harmonised and enhanced reporting structure is to be achieved. Table of Contents Executive Summary 2 Introduction 4 Advantages and Disadvantages of Global Reporting Standards 4 Importance of Accounting Standards Bodies 6 Harmonization of Reporting Standards in Recent Times 7 Conclusion 8 References 10 Bibliography 11 Introduction A considerable amount of countries and entities around the globe have adopted IFRS (Internationa l Financial Reporting Standards) as the base for financial reporting with the means and objective to enhance the value of information on corporate performance. In the year 2010, a potential new framework proposed by the Accounting Standards Board (ASB) to replace current Irish and UK GAAP has revised the original proposal and released 3 new drafts Application of Financial Reporting Requirements FRS 100, 101, 102, etc. ... ts to FRS 102 (FRED 48) which was issued on October 2012 restricted the proposed scope and amendments relating to accounting of service concession arrangements and multi-employer pensions. In addition, FRED 48 also contains proposed comprehensive accounting standards based on IFRS for Small and Medium-sized Entities. Even though the advantage of general sets of international reporting standards are acknowledged, there are a certain operational challenges at the international and domestic level if the objective of a harmonised and enhanced reporting structure is to be achieved (FRC, 2013, pp.3-12). Advantages and Disadvantages of Global Reporting Standards The need for a global reporting standard has gained more importance for small and medium sized organizations where the accountability of managers towards the investors are generally less transparent compared to large multi-national companies. Over times such transparency might lead to mistrust between the owners and the managers lea ding to an Agency problem. The implication of non-transparent reporting can be better understood when one analyzes the global financial crisis of 2008. A vigilant scrutiny of the financial crisis reveals an underestimation of the risk associated with financial instruments (such as Mortgage based securities), that led to inflated expectations ultimately triggering global financial crisis. This underestimation of risk perception of the investors was primarily motivated from the improper financial reporting of entities. Hence, an establishment of suitable reporting standards for accounting along with suitable disclosures in the financial statements has become a challenging task (Kurz, 2004, pp.1-5). The industries have experienced some tremendous changes in terms of financial reporting and

Direct and Internet Marketing Essay Example | Topics and Well Written Essays - 2500 words

Direct and Internet Marketing - Essay Example e in the intensity of competition, organizations have understood that in order to stay ahead in this intense competition they need to focus on marketing. In today’s competitive business scenario marketing is the key for the success of any company or product or brand. In the last few years various new concepts of marketing have arrived in the market. Direct marketing is one of these newly developed marketing concept which is one of the most widely used marketing strategies that most of the organizations are adopting. In direct marketing potential customers are approached individually and this is one of the main reasons behind the huge acceptance of direct marketing. Another important factor that has redefined the term ‘marketing’ is internet. It has been found that in the last decade internet has arrived as one of the largest medium of communication. Today, in most of the developed as well as developing countries, products are purchased by the consumers online. So, it can be stated that both direct and internet marketing are two of most important concepts of marketing. This paper includes a detail overview of direct and internet marketing from both theoretical and application perspective. Bothe marketing concepts are discussed in the context of an organizations named Carbon Trust which is a UK based organization. Direct marketing could be referred to a process but not a technology. The process of direct marketing is aimed at not only selling the product but also creating and maintaining healthy customer relationships that would be profitable for the organization in future (Nash, 2000). As far as the definition of direct marketing is concerned, the most widely accepted one is provided by the direct marketing association. According to this association direct marketing could be considered as an interactive process where advertising media is used with the purpose of effecting a measurable transaction and/or response at a particular location. Direct marketing is

Indigenous land claims Essay Example | Topics and Well Written Essays - 2000 words

Indigenous land claims - Essay Example In fact, even after gaining independence and sovereignty, the colonial masters have always been reluctant to hand over indigenous land to the indigenous people. Landlessness is one of the significant indicators of extreme poverty levels across the globe. Actually, poor citizens mostly live in rural areas, rely on agriculture, and agricultural labor to survive. However, they do not own these pieces of land (Landesa, 2012, p.1). In the modern times, all land belongs to the government with the citizens exercising use and care over land. Through various government land commissions, the government issues ownership certificates to qualified individuals, regulates and controls use of all land in a given state. Possession, use, registration, or even land claims are important yet very difficult procedures in matters relating to land. It is usually very difficult for the government to honor indigenous land rights and land claims have always resulted to violence and court cases.  However, the re have been various claims over land all over the world by the indigenous people in specific nations from the government, colonial masters, or caretakers. A land claim is a formal statement submitted to the federal and/or provincial government by an Aboriginal community asserting violation to commitments or obligations relating to Aboriginal land rights (Darling, 2012, p.1). While it is much easier to launch a land claim against a registered land, it is much difficult to claim a right over unregistered land. This paper will address the content and significance of the central land rights claims made by indigenous people, mostly indigenous people in Australia. Like other traditional inhabitants, the indigenous people of Australia have been in existence, occupying, and using indigenous land for more than 60 000 years. Although they have greatly evolved with time just like the uses of land, the significance of land in sustaining

Public Spending Essay Example | Topics and Well Written Essays - 1250 words

Public Spending - Essay Example The public expenditure was raised in the 20th century due to the impact of the world wars. Before the World War I, the public expenditure was about 15% of the GDP. After the war it appeared to be about 25% of the GDP and maintained the level in the next few years. It did change during the starting phase of depression in the economic conditions (Chantrill, 2010). After the World War II, the public expenditure had increased and it was budgeted to consume 35% of the GDP and this level was retained till 1950s. The public expenditure was slowly raised in the year 1960 and it increased in early 1980s consuming about 45% of the GDP (Chantrill, 2010). Public expenditure rose by 0.7 percent of the GDP from 1999-2008. A decade ago, according to the OECD statistics, UK public spending was registered at 8.7 percent of the GDP below the Euro area average. By 2008, this figure had been registered at 1.3 percent below the Euro area average (IOD, 2008). There were lot of instability in the public expending regarding the defence system. The spending in defence expense was increased before the World War II. 3.5% of the GDP was used in defence spending in the year 1935 and reached to 15.9% in 1939. After the commencement of the World War II, the British Government started to assemble most of its resources for the war. The expenditure was over 40% of the GDP on the defence system for four years and it was raised to 46.37% of GDP in 1943 (Chantrill, 2010). The public expenditure in development of the state of education was expanded from 2% of GDP in 1990 to 6% of GDP in the second decade of 21st century. The spending in this sector has been increased to 3.37% of GDP in 1955. During the starting phase of 1956 the spending was increased rapidly and it accounted to 4% of GDP in 1960 and 6.5% of GDP in 1975 (Chantrill, 2010). There has been a decrease in the spending during the period of 1970 to 1980. In 1989 it reached to 4.25%

Democratic Leadership in Education Assignment Example | Topics and Well Written Essays - 2750 words

Democratic Leadership in Education - Assignment Example The finance department was considered by many as superfluous to the Agency, but the government was demanding more financial information, so the Agency was â€Å"forced to broaden their focus to make a bigger role for financial reporting.† Even without the Finance Branch, the Agency was able to function in a manner consistent with world-class standards both in its core business and in other areas of its business. In this case, the Agency felt that it would have done well without the finance department, but it is a subjective and therefore imbalance point of view. The imperative to form a new department enhances the function it discharges – in this case, financial reporting and management – according to the needs and strategies identified by the higher unit (i.e., the government). What the Agency considers its â€Å"world class† performance may only be in its view, which a balanced financial reporting system using accrual accounting should provide an imparti al view into. Issue Two: The existing system had to be upgraded, according to the senior financial officer, but it would result in a non-standard system. Furthermore, it was perceived as risky due to the fact that â€Å"so much money had already been spent on the existing system without providing a satisfactory system.† Establishing a new system would necessitate new substructures; for it to pertain only to the finance department would necessarily create a system not consistent with the rest of the Agency, but this should not deter the move where it is deemed necessary. As Alfred Chandler (1993) put it, a structure must support strategy, not impede or constrain it. Issue Three: The new Finance Director formed a small project team including Mark Black (MIS) and Henry Tell (senior financial officer) to determine requirements for the new financial management system. She also requested funding for the team. Consultants were not used for this assessment, but latitude and confidenc e were given to the existing staff and their technical background, with inputs drawn from key stakeholders through interviews. This appeared to be a wise move. In the development of new structures within an existing organization, it is important to build a sense of legitimacy and acceptance. Bringing in outside consultant who hardly knows the Agency would have been a mistake; although the resultant system might have been superior, if it were prejudged as unacceptable for being irrelevant, then the new unit may not get the chance to prove its system’s merits and the benefits it may provide the organization. The benefits of taking a structural perspective are that it focuses corporate activity to the specific goals it wishes to achieve, organizes and coordinates the efforts taken towards this effort, and therefore optimizes the firm’s resources. Resources should be organized to support vital functions, and organizational units seen as superfluous should be taken out (Lie vegoed, 1973). The usefulness of the structural frame, in this case, is to realign roles and responsibilities according to a new (accounting) environment, as well as to transmit facts and information.

Marketing Assignment Example | Topics and Well Written Essays - 250 words - 9

Marketing - Assignment Example Most of the products fail because of unattractive features, exceptional high price, wrong segmentation, positioning, targeting, inappropriate promotional strategies, lack of top management support, lack of relevance in the market etc. Whereas main reasons behind the success of a product include excellent product features, value for money, proper marketing strategies, full support from top management etc. There are number of stages involved in the development of a new product. These are idea generation, idea Screening, concept development and testing, marketing strategy and financial analysis, product development, test marketing, commercialization. Each of these stages is discussed below. The entire process of new product development starts from idea generation stage. New ideas might be generated from companys internal employees, customers, suppliers, distributors and even from competitors. In this stage concept of the chosen idea is developed and it is tested in the sample customers. Any further modification in the product features are done on the basis of the responses from these customers. Marketing strategies would include strategies on 4 Ps (product, price, place and promotion), segmentation, targeting, positioning and sales. Financial analysis would involve analysis of total cost of production, sales, and distribution. Financial analysis would also involve the analysis of required profit margin based on which the price will be

Peroxisome Proliferator-Activated Receptor Delta Polymorphisms Are Essay - 1

Peroxisome Proliferator-Activated Receptor Delta Polymorphisms Are Associated With - Essay Example tivity appropriated; then PPAR delta genes involved in fatty acid oxidation in adipocytes and skeletal muscle cells through promoting appropriated fatty acid oxidation. Indeed, following the research data showed that essential role in blood lipid metabolism plays PPAR delta gene. These were establishes from distinguish studies such as treating with a PPAR dalta agonists that increase plasma high density lipoprotein (HDL-C) and screening 5’ untranslated region of the human PPAR delta gene for DNA sequence variants where identified four polymorphisms. Such as T/C transition in nucleotide 15 of exon 4 was associated with plasma LDL-cholesterol levels in two cohorts of healthy men, than rare C allele correlated with higher LDL levels, was associated with higher transcriptional activity in vitro, and to affect binding of transcription factor. The conclusion is that DNA sequence variation in the PPAR delta locus is a potential modifier of changes in cardiorespiratory fitness and pla sma HDL cholesterol during regular exercise. (Hautalla et al., 2007) According to the World Health Organization, cardiovascular diseases, diabetes, obesity, cancer, mental diseases, osteoporosis, caused 60% of the world’s mortality in 1999, and according to current estimations they will be responsible for 73% of deaths by the year 2020.Endeed homeostasis and energy balance, achieving during exercise should reduced these epidemic dieses from spreading. Homeostasis of energy and fitness is correlated with nuclear receptors peroxisome proliferator activated receptors (PPARs) .The key to glucose, lipid and protein metabolism is hiding in PPAR alpha and PPAR gamma, which stay uncovered, but data confirmed the key role of PPAR delta in lipid metabolism. Involvement was proved in metabolic disorder such as metabolic syndrome, arteriosclerosis and cardiovascular disease. So sensors for fatty acid, PPARs, the controller of metabolic pathway, bona fide members, are encored by 48 genes in humans