Advanced Accounting Theory and Practice Essay Example | Topics and Well Written Essays - 750 words

Advanced Accounting Theory and Practice - Essay Example The use of fair values in accounting for financial instruments to provide information to users of financial statements has been tested by cases of extreme market conditions. Fair value accounting has had a fair share of praises and criticisms. This assignment aims at explaining some potential criticisms, and evaluating whether they are correct and where they are overstated. The main objective of this assignment is; to illustrate whether users of financial statements are advocates of fair value accounting. Fair value measurement aims at estimating, as best as possible, the prices of financial instruments and how these instruments would change hands in orderly transactions based on current conditions and information. To achieve this goal, firms incorporate current information about their future cash flows, and current risk-adjusted discount rates into their fair value measurements. The standard requires firms to use available market prices for similar positions to estimate fair values. This requirement relies on the fact that, market prices should replicate all publicly available information about future cash flows as well as current risk-adjusted discount rates. In some cases where market prices for similar positions are unavailable, firms estimate fair values using relevant valuation models. These models are applied using observable market inputs; interest rates and yield curves, and unobservable firm-supplied inputs; expected cash flows from the firm’s own data. Fair values e stimated using valuation models are referred to as mark-to-model values, whereas those estimated using unadjusted or adjusted market prices are referred to as mark-to-market values (Wallison, 2009). Firms report the fair values of the positions they currently hold on their financial statements. This standard also requires firms to report on periodic changes in the fair value of their current position. These periodic changes are indicated as unrealized gains and losses

Biography on CHIEF WALTER JOHNSON of the LONDON ONTARIO POLICE Essay

Biography on CHIEF WALTER JOHNSON of the LONDON ONTARIO POLICE - Essay Example With the help of Bell Canada, a futuristic 911 system was created. It was not as sophisticated as todays 911, with the 911 operator knowing which address a call is coming from, but it was new then. A 911 system allowed people from London to call 911 for police or emergency assistance. Also in 1974, personal police radios were put into regular operation as part of the new Personal Radio Equipped Police System. Other technological advances were put into place. Computers were used to keep track of Record Entry and Retrieval System for more efficient management of records in 1975 (London Police Department, 2004). In 1980, a Systems Analysis and Programming Unit formed. Chief Johnson was not afraid of technology, using any means possible to capture criminals. retired Inspector John Robinson and former Chief Walter Johnson helped draft a historical change in the response of Londons Criminal Justice System to wife battering. In May 1981, London became the first police force in Canada to institute a policy that instructed officers to lay charges of assault in wife abuse cases, regardless of the wishes of the parties involved, whenever there existed reasonable and probable grounds to believe an assault had taken place (London Police Department, 2004). The implementation of this mandate placed the onus on the police rather than the victim to pursue justice in cases of wife assault. City police also began to give out victim information cards to all victims of wife assault at the time of police intervention. These cards contain occurrence information including the officers names and number and the plan of action, as well as a listing of community support services available. Former Chief Johnson, like most beat patrolmen, understood that wives a nd husbands loved each other and wanted to protect each other. This measure was in result of frustrating domestic calls, where a woman was too in love

Impacts of Johann Carl Friedrich Gauss as a Mathematician Term Paper

Impacts of Johann Carl Friedrich Gauss as a Mathematician - Term Paper Example In his lifetime, Gauss had hardly made a contribution to the field of mathematics. It is said that the German mathematician was aloof to the pubic world of the mathematicians notable in his days. Gauss only communicated to a few of his trusted friends who were also strongly inclined to mathematics. Besides Bolyai, Schumacher was one of Gauss’s trusted correspondence in which the latter confided to the former about his spending a â€Å"considerable time on geometry† (Tent, 2006, p. 214). On the other hand, upon the death of the gifted mathematician -- and the subsequent discovery of his mathematical notes and ideas -- the world of mathematics had never been the same. Particularly his contribution to the shaping of the so-called non-Euclidean geometry, Gauss had made an impact to the sphere of geometry. His schoolmate Bolyai had asked him, for several times, pertaining to his view to Euclid’s fifth postulate -- also known as the parallel postulate. But Gauss did no t disclose his discovery concerning the existence of the non-Euclidean geometry for the reason that he did not want to â€Å"rock the boat† (Tent, 2006, p. 215). True, Gauss’s non-Euclidean geometry -- first he called it as anti-Euclidean -- had caused a stir in the area of mathematics marked in the late 18th century. Non-Euclidean geometry is basically defined as an area in geometry in which Euclid’s first four postulates are held but the fifth postulate has a quite different and distinct version in contrast to what is stated in the Elements (Weisstein, 2011). Among various versions of non-Euclidean geometry, the so-called hyperbolic geometry is where Gauss belongs to. In one of their conversations, Gauss revealed to Schumacher about his anti-Euclidean geometry: â€Å"I realized that there also had to be triangles whose three angles add up to more or less than 1800 in the non-Euclidean world. I had it all mapped out† (Tent, 2006, 214, my italics). Here, Gauss categorized the fundamental elements of his newly found mathematics. That is to say, Gauss’s non-Euclidean geometry is a departure from two-dimensional geometry characterized in Euclidean mathematics. Gauss’s hyperbolic geometry, in fact, works greatly in three-dimensional geometry or space. Thence, the impact of Gauss’s mathematical discovery, if not innovation, was quite evident especially within the field of mathematics. For one, Gauss had opened up a new world or knowledge about the wider space or scope of mathematics, particularly geometry. That is, man does not live in a narrow two-dimensional space. Based from this paradigm (i.e., hyperbolic geometry), one can explore the multifarious possibilities laid open by non-Euclidean geometry. Perhaps the greatest impact of Gauss’s hyperbolic mathematics is found in the sphere of astronomy. In 1801, for instance, Gauss’s mathematics had greatly facilitated the discovery of a dwarf planet named Ceres (Tyson, 2004). Evidently, this is the triumph of mathematics. Utilizing the non-Euclidean geometry, it became possible for man to calculate the universe even without the use of advanced technology such as the telescope. Using Gauss’s hyperbolic geometry, man is able to see the cosmos beyond the Euclidean geometry can offer. Space, after all, is three-dimensional -- be it space in/on earth or in the universe. Generally, non-Euclidean geo

Customer Service, and Company Culture of Zappos.com Assignment

Customer Service, and Company Culture of Zappos.com - Assignment Example According to the research findings, from its inception, Zappos value proposition has been to create and deliver to each customer a WOW experience. They are able to achieve this by simply empowering their workforce to deliver a shopping experience that is irresistible. They provide unrivaled customer service and free fast shipping, while at the same time offering almost one thousand two hundred and fifty brands and two million eighty hundred thousand products. As a result of this strategy, they have a fanatical customer loyalty with up to 75% being repeat customers. Zappos ability to create and capture value emanates from their nearly obsessive passion to create customer satisfaction and good customer relationships. In fact, customer’s loyalty is of such great importance to Zappos that it is their primary goal to be the best customer experience and customer service company. They have a culture that runs deep down and that is customer-focused. In order to create and capture valu e, Zappos directly invests the huge amount of money into customer service. They will only hire employees who are customer-oriented who are able to fit into their culture of optimal employee satisfaction. Even after employing people who are customer-oriented, they further train these individuals thoroughly the art of creating customer loyalty. Zappos approach to creating and capturing value is customer-centric. They make use of such strategies as offering free delivery for products purchased, they even allow for free returns when a customer is not happy with the product and they also have a 365-day return together with periodical service upgrades. As a result, 75% of their sales emanate from current customers and still have a tremendous rate of growth despite the poor economy. Zappos has also developed a service culture which is built around ten core principles which stipulate that every new employee has to take four weeks of customer training on loyalty.

Photographers of the Mixed Media Essay Example | Topics and Well Written Essays - 1250 words

Photographers of the Mixed Media - Essay Example It can be stated, however, that the main genre of her photos, produced with a means of combined media, is a child’s portrait. Many researchers insist on rich theoretical and practical backgrounds of her production, widely ranged from Renaissance (Bronzino), Baroque (Velasquez), Romanticism (Ruge and Friedrich) to Victorian (Carroll) sources of her works. After the brief introduction into her working methodologies and using of mixed media (i.e. combination of painting, analogue photo, and digital manipulation), we need to discuss them on a more solid basis, long before the discussion of how this influenced her work in terms of narrative and perception. ... Then, as it were mentioned constantly by the researchers, she used to exploit in her works a combination of painting, analogue photo techniques, and digital manipulation.  «In fact, Ms. Lux has carefully costumed and photographed her subjects and, after scanning the image, dropped the figures into a separately scanned background often taken from one of her paintings ». (Tully, 2005) So, Lux used analogue technoque firstly, and, getting the figures, dropped them into a seprately scanned background secondly, (i.e. digital manipulation) which is taken from her own paintings. Specifically, her paintings and analogue photos become the main sources for an appropriation, gitting scanned and ultimately combined with a means of Photoshop (for example,  «... Levels control to give the children and their settings a distinctive pallor). (Woodward, 2004) Ultimately, from a point of narration and perception, it should be stated that works of Loretta Lux are organized very well in a classic m anner. Using many old masters as her citation field, she managed to create an atmosphere of mystery. Being mediated by a wide range of techniques, both analogue and digital, and assisted by using of mixed media, her surrealistic children sitting on a sofa of eternity provoke a reader to find an answer to a riddle of absolute in a broad set of interpretations. Paul Shambroom Describing the working methodologies of given photographers, we must begin from the biographical details, then going to a discussion of the chosen formats – analogue, digital or both. Afterwards, are to give our explanations on how this has influenced the works in terms of narrative and perception. Primarily,

Bubbles on the South Sea Essay Example | Topics and Well Written Essays - 1000 words

Bubbles on the South Sea - Essay Example According to a website "The bubble is usually followed by a sudden drop in prices known as crash". This is a significant drop in the total value of a market, almost undoubtedly to the popping of a bubble, creating a situation wherein the majority of investors are trying to flee the market at the same time and consequently incurring massive losses. And terribly affects everyone. The inevitable crash came and the strain proved to much to many joint stock companies. The immediate cause was the activities of the South Sea Company. It had been formed to engage in trading in the South Seas, but it also has engaged in the funding of the national debt in return for monopolistic privileges. The bad repute of this joint stock companies had led to the passage of the Bubble Act for the regulation of companies in the main attempt to prevent panic. Bubble Act declared that only companies formed by charter or by a private act of parliament were legal. The South Sea Company was reasonably successful. It was chartered by the government for trade in South America and South Sea. The relationship between the government and the company created confidence and high expectations. In the history, they were given the monopoly of trading in the Pacific Ocean and along the coast of South America, made an offer to the government to pay off the whole National Debt and to buy up the irredeemable annuities, according to Melville amounting of "800,000 a year, provided the different public securities were consolidated into one fund in their hands and the government gave the company certain exclusive commercial privileges". In spite of the limited privileges conceded to it in the Asiento by Spain, been highly successful in the slave trade. This means according to (Colliers Encyclopedia) "that they have the right for 30 years to supply Spanish-America colonies with 4,800 slaves annually and to send to Porto Bello and Vera Cruz a trading ship of 500 t ons a year". A negotiation being settled with the South Sea Company. This right was handed over the company which underwrote the English national debt, on a promise of 5% from the government. The most question was whether the fund-holders would convert their stock for shares in the company, for they could not compelled to do so. According to (Caleb W.)" The brilliant prospects held out by the directors of the gold and silver lands awaiting exploitation in South America, crowded into the rush for shares." Its shares immediately rose to 10x their value from 110 rose to 1000, speculation ran wild and all sorts of joint stock companies, fraudulent or merely optimistic were formed. Its price soared within a few weeks, people realized that it was greatly overpriced and prices fell. Thousands were financially ruined. The South Sea Prosecution of some of those concern served to open the eyes of the public to the recklessness of its own scheme, and its shares dropped with the result that few sold out enormous profits, the majority of those who hold on were ruined and result of financial disaster. The Bubble had burst, ruining thousands of families. The disaster happened in South Sea Bubble almost wealthy persons in the kingdom had become members of the government to involved in manipulating of the company. Robert Walpole un his time did much to restore national credit. According to (Caleb, W) " he makes arrangement and assign 9 million which

Role of the Public Relations Professional Essay Example | Topics and Well Written Essays - 750 words

Role of the Public Relations Professional - Essay Example public relations department help increase the customer base of a company and it helps build a better corporate image which indirectly helps the marketing department. This paper discusses public relations and its impact in the corporate world. Public relations activities can either be perform in-house or by an external public relations agency. There are many successful businesses out there in the global economy. These companies may be good at their expertise, but most of them do not have the functional business knowledge to perform an adequate job with specific business functions such as public relations. Due to this business reality public relation agency such as 5W Public Relations exist. 5W is one of the 25 largest public relations agencies in the United States whose goal is to successful deliver their client’s messages to the target audiences (5wpr, 2009). Some of the corporate clients that enjoy the services of 5W are rapper Ice Cube, Barnes & Noble, Harrahs, Nice, Phillips Van Hausen Corporation, and McDonalds. Many of these corporate clients choose to outsource their public relations activities to public relations a public relation agency such as 5W because it more cost effective to contract them than to perform these types of activities themselves. For example in order to be successful with media relation you have good contacts with news and media channels to get media players to participate in your media initiatives. It is much easier for public relation agency to deal with the networking, than for a sole corporation or specific client to do it themselves. Public relations can have a high level of importance for corporation when they get into trouble due to bad corporate action that hurt the brand image of a firm. An example of a company that needed major help from its public relations activities after mishandling its international activities was Nike Corporation. In the late 1990’s Nike got involved in manufacturing activities in developing nation