How To Conquer The Admissions Essay

How To Conquer The Admissions Essay Write a few sentences on any reason that particularly strikes a chord with you. UT-Austin utilizes the transfer process to bring leaders onto campus who can introduce different perspectives to classroom discussions and student organizations. They applied as an out-of-state student from New Jersey, so they also address in their last paragraph how UT can help them achieve their goals. I worked thirty to forty hours each week while taking a full course load. I learned to communicate effectively at an early age. No matter what situation my family was going through, my sisters and other relatives considered my opinions and often put my suggestions into practice. My survival and quality of life depends on resolving conflicts for work, for my internship, and for relaying messages within a divided family. Recognizing my strength, I feel that public relations would be the perfect major for me. He asked same of me as with his Lehman Brothers partners. While that could understandably be stressful, working for Johnson and Johnson prepared me for adapting to pressure and navigating powerful personalities. I began by building a website and managing their nascent social media channels. Some might write this off as merely doing work for a High School team, but I disagree. I functioned as the liaison between policy owners and J&J, including those in non-English speaking countries, who were operating in different time zone. Working cross-culturally can be a challenge, but I learned quickly. I stayed organized and met intense deadlines assigned to my team by the Vice President of Global HR Services. How have they molded your interests and led you to this point? Pick one or two cases that you can talk about in-depth. For graduate school, it is best to take at least one professional situation and show what you did and learned. For example, if you’ve been asked to talk about an important event in your life, list down events that have made a significant impression on you. Don’t worry if these are events that are not ‘conventionally’ important or seem insignificant; what matters is that they have had some influence over you. Similarly, make a list of people you admire or who have influenced you â€" this could be a friend, a family member, a teacher, etc. and need not necessarily be a famous person. Take a piece of paper and start writing down all the reasons. Spend about half an hour on this, so that you can go beyond cliched ideas like wanting to improve your prospects or contribute to society. I like this essay a lot because it shares a compelling story that frames where they’ve come from academically and professionally, where they currently are, and how UT can help them achieve their goals. They also discussed why they enrolled at the University of Houston, their home city, rather than pursuing UT-Austin’s Coordinated Admissions Program. I considered my strengths, and now I understand that I love communicating with people and solving problems. I’m the go-to person in my friend group when relationships end or problems happen at school, and I am used to handling family crises at home. I want to help solve problems on behalf of companies, and I feel that public relations is my perfect fit. Interested in building your best transfer application? Providing specific observations from their visit let’s the review know that they are making an informed decision to transfer. I answered every day to a man who occupied corner offices atop Wall Street skyscrapers and oversaw operating budgets in the tens of billions of dollars. I started producing a weekly documentary series following their progress during the season. I divided responsibilities and maintained our daily schedule to keep our workflow moving smoothly. Complete my questionnaire for a free consultation. Despite their below average GPA, there’s no doubt they gained admission on the strength of this Essay A that helped connect their expanded resume and Essay E about growing up in a mixed-religions household. It’s a well-written response that no doubt helped their reviewer form a mental image of the student. Everyone can relate to the nervousness of being out of their element and receiving pleasant surprising news when they were otherwise doubtful.

US Institutions in the Global Financial Crisis - Free Essay Example

Sample details Pages: 10 Words: 3069 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? This essay discusses about the global financial crisis that struck United States. It will look at what measures did US government took to protect these financial institutions. Then it will analyze shareholder and stakeholder models of corporate social responsibility, then relate this theory with the situation. Next it will discuss whether US governments action could be justified from either or both of these models and it will talk about the short and long term consequences of government intervention. And in conclusion it will discuss whether actions taken by US government is best for society or not. The global financial crisis all started back in 1977, when Community Reinvestment Act was passed by 95th US Congress and signed into law by president Jimmy Carter (Busy Times, 2008). It was designed to encourage commercial banks to meet the needs of borrowers in all segments of the communities, including low-income neighborhoods (Busy Times, 2008) Then initially led by very low interest rate regime during Alan Greenspans era, 2000 2006, it allows homebuyers to take up mortgage with low interest as it allow financial institution to generate income growth, and one of it is subprime lending, practice of making loans to borrower who do not qualify for market interest rates of traditional housing mortgages cause it had problems with their credit history or the credibility to prove they had enough income to support the loan payment (Busy Times, 2008). Through this, borrowers with bad credit history were able to get a mortgage loan, even borrowers with no income, job and ability to repay; consequently it decreases the lending standards, as shown below (Busy Times, 2008). With this situation, 2nd tier institutions were lending money to homeowners, and then securitize the assets and sell it to major US financial institutions including many investment banks, and those investment banks sold it to investors (Busy Times, 2008). This cycle allow bank to earn extra income for the sale, consequently this let to a sharp rise in household debt, graph 1 (Busy Times, 2008). At first it was not a problem cause house price kept growing for years, graph 2, thus borrower could not repay the loan, bank could always foreclose mortgage and sell the collateral (the house) at a higher price (Busy Times, 2008). - Graph 1 Household Debts (APRA, 2008) Graph 2 House Price (APRA, 2008) - But as housing affordability fell, housing prices rose more than disposable income, this meant people were not up to meet the test of subprime, therefore banks income would fall due to lower volume of loans, but there were unrealistic expectations of asset growth in housing (Busy Times, 2008). Housing prices starts to fall, and more and more people defaulted, so now there are more houses in the market than buyers, which causes housing prices to fall even further (Busy Times, 2008), which mark the start of the global financial crisis. Global Financial Crisis initially started in United States, and United States being a super power country, brings a huge impact to the rest of the financial world. Trying to fix this, United States government responded by providing some solutions, one of it is Troubled Asset Relief Program (TARP). The Troubled Asset Relief Program (TARP) set up under the Emergency Economic Stabilization Act, 2008 (Ghosh, S. Mohamed, S., 2010), authorized the US Treasury Secretary a total of $700 billion to establish TARP (Ghosh, S. Mohamed, S., 2010). TARP provides wide raging powers to US Treasury secretary to purchase, manage and sell troubled assets held by financial institutions, and to sell or enter into securities, loans, repurchase transaction or other financial transactions with respect to any troubled asset purchased under the Act (Ghosh, S. Mohamed, S., 2010),. Under TARP, bank, thrifts, credit unions, broker dealers and insurance companies are deemed as financial institutions, but central bank or i nstitution that is owned by foreign government is not deemed as financial institution (Ghosh, S. Mohamed, S., 2010),. And as for troubled assets, it include residential, commercial mortgages, securities, obligations and other instruments based on related to such mortgages, in each case originated or issued on or prior to March 14, 2008 as defined by the Act (Ghosh, S. Mohamed, S., 2010). TARP was originally intended to be a lending programme and one that would increase liquidity by encouraging the flow of credit between the banks and from banks to customers (US treasury, 2008a). The idea was to enable federal government to obtain up to US$700 billion of illiquid mortgage backed securities (MBS) and assets backed securities (ABS) and thereby lubricate secondary mortgage markets (US Treasury, 2008a). TARP was also design to minimize losses of financial institutions owing the toxic assets and thereby, inducing credit growth (Ghosh, S. Mohamed, S., 2010), Economic Stabilization Ac t, 2008, states the objective of TARP, is to provide stability to US financial system, preventing disruption in economy at large and financial system and protect US taxpayer (Ghosh, S. Mohamed, S., 2010), The Act also offers setting up of Troubled Assets Insurance Financing Fund (TAIFF), the purpose is providing financial institutions the chance to purchase insurance from government to guarantee their troubled assets (Ghosh, S. Mohamed, S., 2010). But conversely, in about five weeks, Treasury was suppose to buy those toxic assets off the balance sheets of the bank and financial institutions, but instead the Treasury bought non voting preferred stock from banks and institutions through investing TARP funds in them (US Treasury, 2008d). Cause of that, TARP has failed to ensure liquidity, repair confidence, build trusts in the banking system, redress the issues of encouraging lending to homeowners, counter massive foreclosures and contraction in housing market and stop house prices from spiraling downwards (Congress Oversight Panel Report, 2009c; Barr, 2008; McIntyre, 2009). The first tranche of $250 billion TARP money was used to pump in $167 billion in 87 banks in exchange for preferred stock and warrants (US Treasury, 2008e). Next it went to AIG, about $40 billion (US Treasury, 2008f), then to Citibank, about $45 billion in exchange for preferred stocks and warrants (Ericson et al., 2009). As in Wall Street Journal, it discuss that U.S. government made a bail out as of American International Group Inc. (AIG) as it injects $85 billion to the firm, this show the intensity of its concerns about the danger of AIG collapsing to the financial system (Kartnitschnig, M. et a, 2008). The decision was difficult one, as federal government had been strongly resisting overtures from AIG for an emergency loan or intervention that would prevent the insurer from falling into bankruptcy (Kartnitschnig, M. et a, 2008). Cause just a week before, government decided not to intervene to help Lehman Brothers Holdings Inc, as a result it went bankruptcy, but this time government decided AIG was truly too big to fail (Kartnitschnig, M. et a, 2008). U.S. government also took over mortgage lending giants Fannie Mae and Freddie Mac as the teetered near collapse, another Wall Street giants, Merrill Lynch Co agreed to self it self to the Bank of America Corp (Kartnitschnig, M. et a, 2008). In the end, U.S. negotiators negotiate a proposal that could help both sides, which the Federal will lend $85 billion to AIG and in return U.S. government would be entitled to 79.9% equity stakes in form of warrants (equity participation notes) and the two year loan will have Libor (London interbank offered rate) + 8.5% interest rate (Kartnitschnig, M. et a, 2008). Shareholder theory suggest that business are just arrangements by which shareholders advance capital to managers to be utilized for specified ends and for receive an ownership interest in the venture (Beauchamp et al, 2009,p.66). In this perspective, managers perform as agent for shareholders, though bound by agency relationship to do so exclusively for the purposes of their shareholder principle (Beauchamp et al, 2009, p.66). This fiduciary relationship implies that managers does not have the obligation to expand business resources in ways that are not authorized by shareholders, despite presence of societal benefits from doing so (Beauchamp et al, 2009, p.66). However, both shareholders and managers are free to use their private funds for charitable or socially beneficial project, but when performing as officers of the business, managers have the duty not to divert business resources away from the intention of the shareholders, and managers, him or herself are obligated to follow legal directions of the shareholders and are required to maximize shareholder financial returns (Beauchamp et al, 2009, p.66). Nevertheless, it does not state that managers to ignore ethical constrai nts in pursuit of profits, rather it make certain managers are compelled to pursue profits by all legal and non deceptive means (Beauchamp et al, 2009,p.66) Adam Smiths invisible hand argument state the market is efficient if everyone is allowed to pursue Conversely, shareholder theory has been looked from two different perspectives, which are consequentialist and deontological. Consequentialist, argue that businesses or businesspersons does not have any social responsibilities, other than to legally and honestly maximize profits of the firms (Beauchamp et al, 2009,p.67). Deontological side; argue that based on observation, shareholders transfer their funds to business managers on the provision, those funds are used on their wishes (Beauchamp et al, 2009,p.67). If managers accepted those funds on that specific circumstance, they are not allowed to spend it to accomplish social goals, other than authorized by shareholders, and if they did without authorization, they would be viola ting their agreement and spending other peoples money without their concern (Beauchamp et al, 2009,p.67). Stakeholder theory, a theory of organizational management and business ethics that addresses morals and values in managing an organization (Philip et al, 2003), as in the definition above, the theory itself is divided into two parts, organizational management and business ethics. The organizational management side is known as Empirical theory of management and the business ethics as Normative theory of business ethics. As in this essay, it will focus on the Normative theory of business ethics. Empirical theory of management just discuss about effective managements are required for balancing consideration of and attention to the legitimate interest of all stakeholders, anyone who has stake on firm (Beauchamp et al, 2009,p.69). Normative theory in the other hand, argue, regardless whether stakeholder management leads to improved financial performance, managers should manage the business for the benefit of all stakeholders (Beauchamp et al, 2009,p.69). It views firms not as a mechanism for increasing stockholders returns, rather as a vehicle managing stakeholder interests and sees management as having a fiduciary relationship not just to stockholders, but all stakeholders (Beauchamp et al, 2009,p.69). As a result, it guides management to give equal interest to all stakeholder (Beauchamp et al, 2009,p.70), therefore in this normative form, stakeholder theory imply business have true social responsibilities (Beauchamp et al, 2009,p.70) But normative theory and empirical theory agree on one thing, the best way to enhance the stakeholders return on their investment is to pay attention to the legitimate interests of all stakeholders (Beauchamp et al, 2009,p.69). Stakeholder theory holds that managements fundamental obligation is not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stake holders (Beauchamp et al, 2009,p.69). Meeting this obligation, act accordance to two of stakeholder management must be done, which are, principal of corporate legitimacy and stakeholder fiduciary duty. Principle of corporate legitimacy, the corporation should be managed for the benefit of its stakeholders: its customers, suppliers, owners, employees, and the local communities(Beauchamp et al, 2009,p.70). The rights of these groups must be ensured and, further, the group must participate, in some sense, in decisions that substantially affect their welfare (Beauchamp et al, 2009,p.70) Stakeholder fiduciary duty, management bears a fiduciary relationship to stakeholders and to the corporation as an abstract entity, which must act in the interests of the stakeholders as their agent, and it must act in the interests of the corporation to ensure the survival of the firm, safeguarding the long term stakes of each group(Beauchamp et al, 2009,p.70). As to shareholder theory, the act ions of the corporations comply with this theory, as corporations look for sources of income through securitization process. The cycle begin with institutions lending money to homeowner, then securitizing the assets and selling it to major U.S. financial institutions including many investment banks, and finally those investment sell it to investors (Beauchamp et al, 2009, p.66). This allow bank to earn extra income for sale, and generate a massive income (Beauchamp et al, 2009, p.66). By doing so, it comply with the shareholder theory, as it argue that businesses or businesspersons does not have any social responsibilities, other than to legally and honestly maximize profits of the firms, but this theory is best for short term (Beauchamp et al, 2009, p.67). Since the theory emphasize on best to maximize profit, banks lower their standards of lending, not thinking thoroughly the consequences, banks were able to lend more and to securitize more, which can generate more income (Beaucha mp et al, 2009, p.66). At first it was not a problem at all, as if borrower could not repay loan, bank could always foreclose mortgage and sell collateral (house) at a higher price, cause house price kept growing for years (Beauchamp et al, 2009, p.67). But as years past by, housing affordability fell, since supply is less then demand, to be able to equalize it, price need to be put up (Beauchamp et al, 2009, p.66). As housing price rose more than disposable income, more people were not up to meet the test of subprime, for that reason banks income would fall due to lower volume of loans (Beauchamp et al, 2009, p.67). But due to unrealistic expectations of asset growth in housing, housing prices start to fall and more and more people defaulted, so now there is more supply than demand (Beauchamp et al, 2009, p.67). To equalize this, price needs to be put down, soon as housing prices fall down, it marked the start of the global financial crisis. Fiduciary duty of a shareholder theor y is to maximize their income for their shareholder, and neglecting other factors (Beauchamp et al, 2009, p.67). But in stakeholder theory, the fiduciary duty is to act in the interest of the stakeholder and must act in the interest of the corporations to ensure survival of the firm, safeguarding long-term stakes of each group and it holds that managements fundamental obligation is not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stakeholders (Beauchamp et al, 2009, p.67). It also view firms not as mechanism for increasing stockholders returns, rather as a vehicle managing stakeholder interests and sees management as having a fiduciary relationship not just to stockholders, but all stakeholders (Beauchamp et al, 2009, p.66). As a result, it guides management to give equal interest to all stakeholder, therefore in this normative form, stakeholder theory imply business have true social responsibilities (Beauchamp e t al, 2009, p.67). It also suggested, corporation should be managed for the benefit of its stakeholders: its customers, suppliers, owners, employees, and the local communities(Beauchamp et al, 2009,p.70). The rights of these groups must be ensured and, further, the group must participate, in some sense, in decisions that substantially affect their welfare (Beauchamp et al, 2009,p.69). As what the U.S. government does, it complies with this theory. U.S. government intervenes with this situation, to help stabilize the financial system, cause if not, the financial crisis could have a worsen affect and everyone would suffer more. The U.S. government intervenes through TARP (Troubled Asset Relief Program). Those funds in TARP were used to pump in $167 billion in 87 banks in exchange for preferred stock and warrants (US Treasury, 2008e). Then to AIG, $40 billion (US Treasury 2008,f) then Citibank, $45 billion in exchange for preferred stocks and warrants (Ericson et al., 2009). U.S. go vernment also took over mortgage lending giants Fannie Mae and Freddie Mac as the teetered near collapse (Kartnitschnig, M. et al, 2008). The U.S. government also offers setting up of Troubled Assets Insurance Financing Fund (TAIFF), to help financial institutions have a chance to purchase insurance from government to guarantee their troubled assets (Ghosh, S. Mohamed, S., 2010). By those actions, it could show that US government is complying with the stakeholder theory. As the US government intervenes with those funds, it shows an act in interest of the corporations to ensure survival of the firm, safeguarding long term stakes of each group, and holds that managements fundamental obligation not to maximize the firms financial success, but to ensure its survival by balancing the conflicting claims of multiple stakeholder (Kartnitschnig, M. et al, 2008). Although the fundamental obligation was not to maximize firms financial success, but there fiduciary duty also stated to act in the interest of shareholder, and shareholder does want returns on their investment. Therefore the U.S. lend the $85 billion to AIG, but in return to U.S. government, U.S. government would be entitled to 79.9 equity stakes in form of warrants and 2 year loan will have Libor + 8.5% interest rate (Kartnitschnig, M. et a, 2008). This show both short term and long term consequences of this government intervention generate a positive outcome, as for the short term, US government sustain those companies from bankruptcy, so it does not worsen the financial crisis, hurting more people in their financial situation. For the long term, the US government benefit from the interest rate that they get from those banks. But from bailouts, it could also bring negative short-term effects, such as higher taxes, bigger government and lower salaries (Taylor, M., 2007). As well as for long term, it could bring negative effects, such as government abandoning fiscal discipline, asset bubble or inflation could occur and commodities bubble driven by negative real interest rate (Peng, B.,2008). In conclusion, this essay has discussed about the global financial crisis that struck United States. It discussed the measures that US government took to protect these financial institutions, such as TARP or TAIFF. It also have discussed and related shareholder and stakeholder models of corporate social responsibility with the Global Financial Crisis, by justifying US government action from either of these models and analyzing the short and long term consequences of the government intervention, and the conclusion that the action that US government has taken for this current situation was best for society, as if US government have not taken those steps. It could have worsen the financial crisis and have a greater impact to others countries, just like a domino affects. Cause United States is a super power country, which have a lot of impacts to other countries in this world. By taking those s teps, it was best for this society. Don’t waste time! Our writers will create an original "US Institutions in the Global Financial Crisis" essay for you Create order

Unit Shc22 - Introduction to Personal Development in...

SHC 22 1.1 Describe and explain the duties and responsibilities of your own work role. I work in a team with another childminder, sharing the same premises, so we share some of duties, but generally speaking, both of us are responsible for the children we looking for. My duties starts in the morning when I have to welcome the children, to help them getting the schuss changed and the coats tacked off, to record the time they came in and some information from parents if applicable. It is my responsibility to prepare the food for children and in the meantime to get involved in their activities. We support the children in their personal development in different ways: explaining situations, setting some interesting activities for†¦show more content†¦I do have a lot of information but the most important thing is how to use it. I started with my starting points, my previous experience. Firstly I am mother of two children, one grown up and one teenager. When they were younger, I used to collaborate with all the professionals involved in their education. For three years I worked as teacher in my country. Before starting the childminder course, I worked as childminder assistant for Viorica Timco and she advised me to complete this course because I have the skills to work with children in Early Years. I did this and I am registered childminder from September 2011. In March I had my first inspection and the service I was providing was classed only satisfactory, because some of my weaknesses including the missing of the self-evaluation. Of course there were lot of positive things such as an acceptable partnership with parents, supporting children learning English as an additional language, the measures to safeguarding the children, the food-safety and the first aid training, completion the course KIDS for children with special needs. The premises are used appropriately, providing sufficient space for play, rest and dinning. Play resources are varied, reflective on the six areas of learning; the children are given the opportunity to have their own choices. After starting the self-evaluating process I was trying to find out the ways to

Contemporary Accounting TFV Concept

Question: Discuss about the Contemporary Accountingfor TFV Concept. Answer: Introduction Nowadays, the true fair view is an important accounting standard. The word accounting standard enhances the importance of the TFV concept automatically. The main reason behind it is that accounting standards are major part of the corporate reporting frameworks; and such frameworks are completely followed by the Companies acts or laws. Along with this, the TFV concept does not have any statutory definition; but it has its own importance in IFRS (International Financial Reporting Standards) and UK GAAP (Generally Accepted Accounting Principles). These international accounting standards make the true fair view legal as well as reliable. Moreover, the concept of TFV has authoritative statements that are written by British Judges named as Lord Hoffmann and Dame Mary Arden. In view of that, it has become a central part of the accounting, financial and auditing practices of the business organizations. In addition to this, in this research paper, a literature review is conducted to explain the history as well as historical purpose of the true fair view. Additionally, the literature review would also be beneficial to portray the extent to which the regulatory environment for financial reporting of Australia supports the true fair view. Literature Review History As Well As Historical Purpose of the True Fair View (TFV) In the views of Nobes Parker (1991), the concept of TFV does not have any legal meaning and definition. But, it has legal opinions and judgments as well. Along with this, the authors further state that the true fair view is a conception that we all hold in common, and therefore, it is not a subject for debate to people. Moreover, the origin and history of the true fair view is still a matter of discussion. The main reason behind it is that, there is an absence of specific acts or laws those may portray the origin as well as history of the TFV concept in a clear way. On the other hand, according to the FRC (Financial Reporting Council), the true fair view originated from the legal opinions authoritative statements of the British Judges Lord Hoffmann and Dame Mary Arden. They put their opinions regarding the TFV concept in 1983 and 1984(Nobes Parker, 1991). As a consequence, it can be considered as an important accounting standard that plays a critical role to improve the accurac y of the financial and audit reports of the business organizations. In addition to this, Chambers Wolnize (1991) state that, the TFV concept was originated earlier in eighteenth century. According to the authors, the origin of the TFV concept is expected in the Companies acts of 1844 and 1856 as well. Along with this, the authors say that the true fair view was developed to measure actual valuation of assets. According to the TFV concept, business organizations were obliged to consider the up-to-date prices in order to estimate the correct value of the assets. Moreover, the occurrence of the TFV concept is related to the accuracy of the financial statements of the business organizations. The authors further state that, the concept of true fair view is also originated from the UK Joint Stock Companies Act, 1844. Under this act, the directors of the business associations are obliged to portray a true fair view in the financial statements, ledger books, and balance sheets of the companies(Chambers Wolnizer, 1991). So, the concept of TFV is a legal concept. It is followed by most of the business firms to demonstrate transparency as well as accurateness in the financial statements of the businesses. On the other hand, in the words of Deegan, Kent Lin (1994), the true fair view is an accounting standard. It is related to the International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Principles (GAAP). In UK, most of the companies has adopted and implement the true fair view to portray intelligibility, reliability, and exactness in their financial statements, and financial reporting as well. Along with this, under the Companies Act 2006, the financial directors of the business associations are require to make obvious true and fair view in their financial functions as well as auditing practices. They are legally bound to ensure that the financial reports of the businesses are competent to provide a true fair view in an effectual and a more comprehensive manner(Deegan, Kent, Lin, 1994). Moreover, the financial experts of the business firms are conscientious to make sure that the financial statements and audit reports of the businesses are compliant with the pre-determined accounting standards. In addition to this, according to the authors Caroline Ann (2008), the true fair view was invented in Great Britain in the year 1844. There are numerous historical purposes those brought the concept of TFV earlier in the eighteenth century. For case, the major purpose of the TFV concept is to fulfill the conditions of true fair in the financial reports and balance sheets of the companies. The authors further state that, the other purpose of TFV concept is to eradicate the errors and misstatements that may occur in the financial statements, ledger books, and audit reports of the businesses. Moreover, it aims to develop an effectual relationship between internal accounting and external accounting to understand all the major aspects related to accounting and finance in an accurate manner(Caroline Ann, 2008). On the whole, the historical purpose of TFV concept is to exemplify a true fair in the financial reports; and also to maintain accurateness, clearness, and trustworthiness in t he financial statements as well as balance sheets of the business organizations. In the same manner, Vladu, Mati Salas (2012) state that, the TFV concept is a vibrant concept that has authoritative judgments of the judges. It is a part of English law. The authors affirm that it initiated from the generally accepted accounting principles. The purpose of the TFV concept is to make certain that the financial reports as well as financial statements prepared by the business firms are able to fulfill all the requirements and conditions of the international accounting standards. Moreover, it aims to demonstrate a true fair view in the accounting practices, accounting functions, ledger books, finance audit report of the businesses (Vladu, Matis, Salas, 2012). In this way, the different opinions of the different authors make it a part of the Companies act. Moreover, to show transparency and accuracy in the financial auditing practices, financial reports, and financial statements cab be considered a major historical purpose of the TFV concept. Extent to Which the Australian Regulatory Supports the Concept of TFV Currently, the true fair view has been implemented by most of the nations. But, the adoption as well as implementation of the true fair view is still a major subject of contest in most of the nations. Business organizations do not so much focus on the concept of TFV. It is because of it does not have any official definitions as well as provisions in the constitution. But, the other fact is that, at present times, the TFV concept is accepted by most of the business organizations. They believe that it has legal opinions as well as judgments and; therefore it is a part of legislation(Walton, 1993). Along with this, the TFV is an integral part of the IFRS (International Financial Accounting Standards) and GAAP (Generally Accepted Accounting Principles). In view of that, it has become an important accounting standard. So, the popularity of the true and fair view is increasing on the regular basis. On the other hand, in the words of Nobes Parker (1991), the true fair view is not a subject of discussion. It is a general term that is used by the people in their daily life regularly. In the context of Australia, the TFV concept can be considered a required accounting standard in order to improve the transparency and accuracy of the financial statements as well as balance sheets of the business corporations. Along with this, the Australian regulatory for financial reporting provides support to true fair view within nation. The main reason behind it is that the TFV concept came in subsistence with the continuation of the Victorian Companies Act 1890(Nobes Parker, 1991). Moreover, according to the FRC (Financial Reporting Council), the Australian business associations are compelled to depict true fair picture of the financial statements of the business associations. In addition to this, according to Deegan, Kent Lin (1994), recently, the recognition of the TFV concept is increasing in the Australian business corporations. The Australian regulatory is providing support to the true fair view; so they the corporations may fulfill their financial obligations in an appropriate manner. Furthermore, the Australian Securities Commission (ASC) affirms that the concept of TFV is a basic component of the Australian financial reporting as well as auditing. True fair view is a fundamental part of the Corporations Act. According to the Corporations Act (Section 297), the business corporations are obliged to build true fair financial statements; and to show accuracy in the financial statements of the businesses(Deegan, Kent, Lin, 1994). Moreover, as stated in the section 297, the Australian regulatory environment for financial reporting provides guidelines to business associations; so they may depict a true fair view in the financial and audit reports of the organizations. In the same manner, in the words of Kilgore, Leahy Mitchell (1999), the Australian regulatory environment for financial reporting is strict about the adoption and implementation of accounting standards in the accounting practices of the businesses. It focuses on the true fair view as accounting standard. According to the Australian regulatory environment, the TFV concept is an element of the IFRS and UK GAAP. As an accounting standard, the true fair view is competent to fulfill the criterion that is determined by the IASB (International Accounting Standards Board) (Kilgore, Leahy, Mitchell, 1999). Along with this, the Australian regulatory distinguishes the TFV concept from three aspects. The first one is that it is an advanced accounting standard. The second is that the TFV concept performs in accordance with GAAP. Moreover, the third one is that it is useful to predict inconsistent prospects that legislations of nations do not cover. In view of that, the TFV concept becomes a l egal concept in the eyes of business organizations. On the other hand, Nobes Parker (1991) state that, the Australian regulatory environment for financial reporting give support to the concept of TFV. According to the regulatory authority, the business organizations are legally obliged to show a true fair view in their financial reports to fulfill the general purposes related to the field of accounting. Along with this, the TFV concept is everlasting; and changes in the accounting framework do not influence the true fair in a negative manner. It is a key part of the IFRS as well as GAAP. In other words, it also can be said that, the TFV concept is very much similar to the accounting standards(Nobes Parker, 1991). Moreover, the Australian regulatory environment considered the TFV concept as a fundamental requirement of Australian corporate reporting. On the whole, the Australian business firms are obliged to show a true fair view about the financial performance as well as position of the businesses. The Australian regulatory envir onment is fully in the favor of the true fair view to improve the transparency as well as truthfulness in the financial statements and finance audit reports of the companies. Apart from this, in the views of Karan (2002), the true fair view is not a new concept for the Australian organizations. It has been in the companies legislation from the time when the Victorian Companies Act of 1890. This thing shows that the Australian regulatory is providing support to the concept of TFV since eighteenth century. Along with this, under the section 296, the Corporations Act 2001 makes the TFV concept mandatory for the business associations. The statutory provisions of the Corporations Act 2001 affirm that the TFV concept overrides the material errors as well as misstatements to improve the accuracy of the financial statements of the business organizations in an effectual and a significant manner(Karan, 2002). In view of that, it can be said that, the concept of TFV is a popular concept in the area of financial reporting. It plays a significant role to improve the efficiency of the financial statements and balance sheets of the businesses. As a consequence, the Aus tralian regulatory environment for financial reporting fully supports to the notion of TFV. Conclusion On the basis of the above analysis, it can be concluded that, the true fair view is originated in the eighteen century. The TFV concept does not have legal definition. But, it is popular in all over the world. Along with this, it is also observed that, the historical purpose of the TFV concept is to reduce errors and to improve the accuracy of the financial statements of the organizations. Moreover, it is similar to accounting standard. In view of that, the Australian regulatory environment for financial reporting is completely in the favor of the true fair view. Works Cited Caroline, J., Ann, S. (2008). A true and fair view: harmonization of the accounting. European Journal of Management , 8 (2). Chambers, R. J., Wolnizer, P. W. (1991). A true and fair view of position and results: the historical background. Accounting, Business Financial History , 1 (2), 197-214. Deegan, C., Kent, P., Lin, C. J. (1994). The True And Fair View: A Study Of Australian Auditors Application Of the Concept. Australian Accounting Review , 4 (7), 2-12. Karan, R. (2002). Irreconcilable Legal and Accounting Views of A True and Fair View: An Emerging Alternative from Australian Reforms. Journal of Law and Financial Management , 1 (1), 44-52. Kilgore, A., Leahy, S., Mitchell, G. (1999). The true and fair view concept: evidence from Australia . Asian Review of Accounting , 7 (1), 96-111. Nobes, C. W., Parker, R. H. (1991). True and Fair: a survey of UK financial directors. Journal of Business Finance Accounting , 18 (3), 359-375. Vladu, A. B., Matis, D., Salas, O. A. (2012). True and fair view and creative accounting conceptual delimitations based on Papineau's tree methodology. Annales Universitatis Apulensis: Series Oeconomica , 14 (1), 104. Walton, P. (1993). Introduction: the true and fair view in British accounting. European Accounting Review , 2 (1), 49-58.

Watergate As A Constitutional Crisis Essay Research free essay sample

Watergate As A Constitutional Crisis Essay, Research Paper During the dark of June 17, 1972, five burglars broke into the offices of the Democratic National Committee at the Watergate office composite in Washington, DC. Investigation into the housebreaking exposed a trail of maltreatments that led to the highest degrees of the Nixon disposal and finally to the President himself. President Nixon resigned from office under menace of impeachment on August 9, 1974. The housebreaking and the surrender form the boundaries of the events we know as the Watergate matter. For 2 old ages public disclosures of wrongdoing inside the White House convulsed the state in a series of confrontations that pitted the President against the media, executive bureaus, the Congress, and the Supreme Court. The Watergate matter was a national injury # 8211 ; a constitutional crisis that tested and affirmed the regulation of jurisprudence. With the oncoming of the 1972 presidential election run, Nixon # 8217 ; s focal point shifted to his Democratic Party oppositions. We will write a custom essay sample on Watergate As A Constitutional Crisis Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He ordered surveillance of Senator Edward Kennedy, an IRS audit of Democratic Party Chairman Larry O # 8217 ; Brien and others on his list of political enemies, every bit good as # 8220 ; dirty fast ones # 8221 ; operations against virtually every Democratic presidential aspirant. Two members of the White House # 8220 ; pipe fitters, # 8221 ; former CIA agents E. Howard Hunt and G. Gordon Liddy, transferred to the staff of the Committee to Re-elect the President, where they devised and carried out a program to put in a listening device in O # 8217 ; Brien # 8217 ; s office. When the bug failed to run decently, Hunt ordered the CRP # 8217 ; s security head, another ex-CIA agent named James McCord, to reenter the Watergate composite and put in a new device. McCord and four confederates, all Cuban expatriates and veterans of the Bay of Pigs invasion, were arrested after a security guard called the Washington constabulary. Hunt # 8217 ; s name and White House phone figure were found on one of the work forces, and Hunt and Liddy were shortly arrested and charged every bit good. The cover-up began every bit shortly as the White House learned of the apprehensions. Nixon was concerned that Hunt and Liddy would expose the White House # 8220 ; pipe fitters # 8221 ; and that the ensuing dirt might endanger his reelection run. Nixon # 8217 ; s two top Plutos, Bob Haldeman and John Ehrlichman, swung into action to restrict the harm and do certain that the Watergate burglars said nil about the higher-level functionaries who had ordered the housebreaking or their ain engagement in other Acts of the Apostless of political espionage and aggravation. There were two paths in the cover-up: direct White House intervention with the investigation bureaus, and hard currency final payments to the Watergate burglars to see their silence. At Nixon # 8217 ; s orders, Haldeman and Ehrlichman met with CIA functionaries and urged them to state the FBI that its probe of the housebreaking had to be curtailed because it was encroaching on ongoing CIA operations. The June 23, 1972 meeting in which Nixon foremost discussed utilizing the CIA to barricade the FBI investigation became known as the # 8220 ; smoking gun # 8221 ; conversation, and release of the tape-recording of this meeting led straight to Nixon # 8217 ; s surrender on August 8, 1974. White House Counsel John Dean handled dealingss with the Watergate burglars. He sat in on all the constabulary questions and supervised their defence scheme to see that their tests would be postponed until after the election. At a cardinal meeting on September 15, 1972, he reviewed his part of the cover-up with Nixon, including both obstructor of the constabulary probe and attempts to derail several congressional investigations. Supported by hard currency payments from the White House which covered both their legal costs and life disbursals, five of the Watergate burglars pled guilty while declining to attest about any other cases of political espionage or any higher-level engagement in the housebreaking. The two others, McCord and Liddy, were convicted after a brief test. The attempt to restrict the range of the instance collapsed, nevertheless, when Judge John Sirica imposed drawn-out sentences on all seven work forces in order to coerce them to get down collaborating with prosecuting officers. McCord rapidly broke his silence, followed finally by all except Liddy. The dirt thenceforth developed with an grim impulse. Duty for the housebreaking at the DNC was traced upward to the frailty -chairman of the Committee to Reelect the President, Jeb Magruder, and so to the committee’s caput, John Mitchell, the former lawyer general, and to John Dean. After his celebrated meeting with Nixon on March 21, 1973, when he warned that the Watergate matter had become â€Å"a malignant neoplastic disease on the presidential term, † Dean broke with the White House and sought a trade with prosecuting officers in return for his testimony against Haldeman, Ehrlichman and finally Nixon himself. Haldeman, Ehrlichman and Attorney General Richard Kleindeinst were forced to vacate, public hearings began before a particular Senate commission chaired by Democrat Sam Ervin of North Carolina, and the Nixon disposal was compelled to name Harvard jurisprudence professor Archibald Cox as Watergate particular prosecuting officer. The telecasting webs provided extended unrecorded coverage of the Senate hearings, conveying to a mass audience the lay waste toing public testimony of Dean, Magruder and an array of lesser figures. Then came the disclosure, on July 15, 1973, that the White House had a tape system that recorded all Oval Office meetings and telephone calls affecting the president. Thereafter the Watergate matter revolved around the battle over whether the White House would let go of the tapes to Congress and the particular prosecuting officer. In October 1973 Nixon fired Cox, every bit good as Attorney General Elliot Richardson and his deputy William Ruckleshaus, after Cox refused to drop legal action to oblige the White House to let go of the tapes ( the # 8220 ; Saturday Night Massacre # 8221 ; ) . The public repugnance against this averment of unrestrained and unexplainable executive authorization led to the beginning of impeachment hearings by the House Judiciary Committee. Nixon had to name a new particular prosecuting officer, Leon Jaworski, who resumed the legal action to coerce release of the tapes. Nixon # 8217 ; s place was further undermined that same month, when Vice President Spiro Agnew was forced to vacate on charges of official corruptness during his yearss as Baltimore County executive and governor of Maryland. The installing of Gerald Ford, the House Republican leader, as frailty president provided a more plausible and politically safe replacing for Nixon, and cleared the decks for the concluding push to take the president from office. In July 1974 the Supreme Court rejected Nixon # 8217 ; s claim of # 8220 ; executive privilege, # 8221 ; in which he asserted that the constitutionally canonic separation of powers between the executive, legislative and judicial subdivisions entitled him to keep back the White House tapes from the tribunals, Congress and the particular prosecuting officer. The cardinal tapes were turned over. The transcripts of a six meetings demonstrated Nixon # 8217 ; s cardinal function in the cover-up from the beginning, and his last political support evaporated. At the same clip the House Judiciary Committee approved three articles of impeachment, bear downing Nixon with obstructor of justness, failure to continue the jurisprudence and declining to turn over subpoenaed paperss. Nixon resigned from office August 8, 1974, the first president to make so. The full transcript of the White House Watergate tapes, published tardily last twelvemonth ( Abuse of Power: The New Nixon Tapes, edited by Stanley Kutler, The Free Press ) , paperss that Nixon was sing surrender from April 1973 on, but this measure was neer a foregone decision. Harmonizing to one imperativeness study, Defense Secretary James Schlesinger, former caput of the CIA, kept a close ticker on the military brass during Nixon # 8217 ; s concluding yearss to forestall any effort to # 8220 ; barricade the constitutional process. # 8221 ; In other words, he was concerned that Nixon or his angels in the Pentagon might try a military putsch. Nixon # 8217 ; s remotion from office put an terminal to the Watergate probe and his forgiveness by Ford a month subsequently insured that there would no farther dissemination of the dangers to democratic rights implicit in the activities of the White House # 8220 ; plumbers. # 8221 ; Even today there are powerful forces opposed to a full dissemination of the offenses of that period. Kutler had to pay a drawn-out tribunal conflict to obtain release of the part of Nixon White House tapes mentioning to Watergate, and these were carefully vetted by the National Archives. Twenty-five old ages after the events to which they refer, there are still more than a twelve deletions from the tapes for grounds of # 8220 ; national security. # 8221 ;

Convergent boundary Essay Example

Convergent boundary Essay Example Convergent boundary Paper Convergent boundary Paper Describe the major topographic relief elements on the solid surface of the earth and briefly explain their deposition in relation to the plate tectonics concept. Have you ever wondered where mountains come from, why there is a sea floor, island arcs or even volcano and what plate tectonic have to do with this? Well worry no more as all your question on the earths surfaced topographic relief elements and plate tectonics are about to be answered. The first question that might come to mind is what is a relief? A relief is a land form that is naturally developed or created on the earths surface, and the study of hose land forms is called topography as such the term topographic relief is just land forms that are studied. These landforms are able to be studied through theories that were originated by pioneers such as Alfred Wagoner, Harry Hess, J. Outs Wilson and many others, theses men all contributed to plate tectonics; which is the study of the plates that makeup the lithosphere, their movements and how these movements has influenced changes in the surfaces topography (Stealer, 2011 , 389). These plates either sink in to the mantle creating subsection zones which occurs at convergent plate margins r move away from each other causing magma to rise and spread this occurs at divergent plate margins. These plate margins create various relief elements such as volcanoes, Fold Mountains, sea floors and many others. How they do this is not a mystery as at convergent plate margins its the rising of magma that creates volcanoes. Convergent plate margin consist or two plates oceanic and continental The topographic elements that are formed here are due to three occurrence, oceanic-oceanic plates colliding, continental oceanic plates and continental-continental plates colliding (Mueller, 2005, 140). When a continental and an oceanic plate meet a major topographic feature that will form is a volcano, this is an upward mountain that usually have an opening (vent) through which magma or gas flows. And yes plate tectonics concept explains this. The concept of plate tectonics is that the divided crust which is called plates move and due to the movement of a continentals of this are Mount Fuji in Japan and Mount Peel in Martinique. Where two of the same plates meet in this case oceanic-oceanic the denser of the two will sink and is stead Of a single volcano form a curved volcano mountain island chained is formed above the sub-ducted plate and example of this can be seen through the Lesser Antilles of the Caribbean and Aleutian Peninsula of Alaska these are topographic element that are too created by the concept of plate tectonics. The last but not the least is the collision of a continental-continental plates, none of these plates sing as such constant movement causes them to collide or slide over each other in anyway the same land form is formed. It is here that the highest mountains in the world grow as at this collision solid rock is crumpled and faulted. Huge slivers of rock, many kilometers wide are thrust on top of one another like a fold, forming a towering mountain range. The pressure here is so great that an enormous piece of Asia is being wedged sideways; slipping out of the way like a watermelon seed squeezed between your fingers an excellent example of this is Himalayan Mountain Range in Asia. These topographic elements arent the only ones in existence as divergent plate margins also contributes to major topographic relief. Divergent plate boundaries are where two plates are moving apart from one another (Ritter, 2012)usually oceanic-oceanic . The topographic features that develop at this boundary are due to extension of the plate boundaries which causes rifting in continental and oceanic crusts Stealer, 201 1, 419). This extension is caused by rising convectional currents from the stratosphere, as they rise and approach the surface, convection currents diverge at the base of the lithosphere. The diverging currents exert a weak tension or pull on the solid plate above it. Tension and high heat flow weakens the floating, solid plate, causing it to break apart (see figure 2). The two sides of the now split plate then move away from each other, forming a divergent plate boundary. The space between these diverging plates is filled with molten rocks (magma) from below. Contact with seawater cools the gamma, which quickly solidifies, forming new oceanic lithosphere. The continuity of this process builds a chain of submarine volcanoes and rift valleys called a mid ocean ridge or an oceanic spreading ridge. Examples of this can be seen where the Eurasian plate and the North American plate are moving away from each other to form the mid Atlantic ridge located in the Atlantic Ocean near Iceland. In concluding topographic features on the earth surface are formed through the concept of plate tectonics which is the study Of the plates that makeup the lithosphere, their movements and how these movements has influenced hanged in the surfaces topography (Stealer, 2011 , 389). The movements of these plates form convergent plate boundary and divergent plate boundary and at each of these boundaries a different topographic relief id formed. At divergent the separation of oceanic plates forms oceanic ridges and at the convergent volcanoes, Fold Mountains, mountains and island arcs are formed. Features observed at these margins share some similarities but, also vary quite largely. These differences are caused by the different movements displayed at each boundary and the types of plates involved; oceanic or continental.

Writing a thesis Essay Example | Topics and Well Written Essays - 500 words

Writing a thesis - Essay Example The difference comes about when some definitions refer to euthanasia as the act that allows the physician to deliberately end a terminally ill patient’s life in order to avoid unnecessary suffering and pain (NHS 2013). When the two definitions are compared, there is a small difference between them. However, whether one will call it assisted suicide or euthanasia, the end result for both of the acts is that, they both assist a terminally ill person to commit suicide and take away their lives. This paper is therefore aimed at supporting and stating the reasons why I take the position that, assisted suicide should be allowed. Many a times, we suffer from ‘diseases’ of life that we already know cannot be cured such as life at old age. Sometimes we end up being bedridden in a lot of sufferings and pain for so many years even after having been confirmed to by the doctors that we cannot recover from our illness and we wouldn’t get out of our situation unless we die. People have been involved into fatal accidents that have resulted in the victims losing certain fundamental organs of their body, hence remaining into conditions of surviving through assisted life care. Such assistance normally do not last for long, and the doctors normally already have the information about the situation and already know that the victims will die sooner or later, but after a lot of sufferings and pain. Some patients, normally after knowing their health conditions are those that would not bring them back to life, but only full of sufferings in the hospitals or at home, go ahead to sign a life ending note that states to the doctor in-charge of their health condition to assist them terminate their lives and avoid suffering and pain if the reality of the situation is that they wouldn’t get well again. This is normally an act that is done to them after they have given up in life, and