Accounting In China Essay Example for Free

Accounting In China Essay 1. Introduction †¢ China’s rapid economic growth in the past two decades has amazed the rest of the world. †¢ With China’s accession to the WTO, business activities with and within China will further expand. †¢ China fully understands that a sound financial reporting system plays a key role in the process of economic development. †¢ The Chinese Ministry of Finance (MoF), who has the responsibility for regulating accounting matters in China, has set itself the objectives of fostering investors’ confidence in financial information, increase transparency of financial reporting, and harmonize with International Financial Reporting Standards (IFRS), so as to reduce the costs of raising capital by enterprises and alleviate the risk of financial crisis. 2. History Of Development †¢ The old accounting and regulations were designed to meet the needs of a planned economy, and therefore focused on whether the production goals of state-owned enterprises and their financial and costs plans were being met. †¢ Accordingly, the objectives of accounting and performance measurement some twenty years ago were significantly different from the financial reporting objectives in a modern market oriented economy. †¢ Significant accounting reforms were undertaken in the past two decades due to several factors such as: âž ¢ Since China opened its door to foreign investments in 1979, the rapid growth of its economy, international trade and securities markets has shaped new objectives for financial reporting. âž ¢ State-owned enterprises now look a lot like profit-oriented businesses, and managers and other users need reliable and relevant financial information on which to base decisions about the efficient allocation of capital. âž ¢ At the same time, china has reached out to the international community to form joint ventures and gain greater access to the latest technologies and the world’s capital markets. See more: Homelessness as a social problem Essay †¢ In the 1980s, the MoF issued the first set of accounting regulation, which was formulated by reference to international accounting practice, for joint ventures in China. †¢ In 1992, due to rapid development of the Chinese securities market, the accounting System for Experimental Joint Stock Limited Enterprises was promulgated by the MoF in order to standardised accounting practice and disclosures by listed companies. This System was subsequently replaced by the Accounting System for Joint Stock Limited Enterprises (JSLE) in 1998. †¢ The 1992 regulation moved away from the traditional fund-based Soviet accounting model and incorporated many common Western accounting practices. †¢ In the same year, the MoF promulgated the Accounting Regulations for Foreign Investment Enterprises (FIE), the Accounting Regulations for Share Enterprises. †¢ In 1993 the Basic Accounting Standard for Business Enterprises came into force. It imposes some basic rules (e.g. that double entry bookkeeping must be used, that a cash or funds statement must be included in the financial statements, and that consolidated financial statements must be provided where appropriate); set out a conceptual framework of China accounting and make some detailed rules of financial reporting. †¢ The conceptual framework introduced on a broader scope new accounting concepts and essential elements of financial statements that were in many respects based on international practices. †¢ The conceptual framework aspects of the regulation are reasonably close to US and IASC precedents. †¢ However, these pronouncements were still found to have essential differences with international practice such as limited disclosure of financial information for the users to understand the results and financial position of the reporting enterprise. †¢ Another difference is that the regulation does not specifically identify the primary user or purpose of financial statements. Instead, a hierarchy of users includes the government, banks, the public and an enterprise’s own management. †¢ This is very different from the US or IASB which emphasis on financial decision making by outside investors. †¢ In addition, the ASBE is based on historical cost without the revaluation allowed in IASB or UK rules or the increasing use of fair value in IASB/US/UK rules. †¢ Furthermore, ‘substance over form’ is not established as a principle in China. 3. The New Accounting Standards And Accounting System (Development after 1993). †¢ In 1993, with funding from the World Bank (US$2.6 million), the MoF engaged Deloitte Touchee Tohmatsu (DTT) as consultants to develop a body of Chinese Accounting Standards (CAS) broadly in line with accounting and financial reporting practices used internationally. †¢ Exposure Drafts on about 30 standards have since been published between 1994 and 1996, and they were generally closely in line with the standards of the IASC. †¢ In 1997, the first standard was issued. It is on disclosure of relationships and transactions with related parties. †¢ In the same year, China joined the IASC, and became an official observer at Board meetings. †¢ In October 1998, an Accounting Standards Committee (CASC) was founded within China’s MoF. It comprises academics and members of accounting firms as well as government experts. †¢ In 1998, the Ministry of Finance issued the Accounting System for Joint Stock Limited Enterprises (JSLE) to replace the accounting System for Experimental joint Stock Limited Enterprises in order to standardise accounting practice and disclosures by listed companies. †¢ In 2000, DTT was reappointed as consultants for the second phase of the project. †¢ China accounting has achieved remarkable progress in unifying its accounting practices since Year 2001. †¢ In the same year, MoF issued a new comprehensive Accounting System for Business Enterprise (the ‘System’). The new System replaced the Accounting System for JSLE form January 1, 2002. †¢ In other words, all JSLE (including all listed enterprise) and FIE are now required to follow one unified new System. The system introduces the concept of substance over form and extends the requirement for consideration to all assets. †¢ The MoF plans to ultimately require all medium-size and large enterprises (other than financial enterprises) to adopt the new System, and announced its expectation that state-owned enterprise will adopt the new system over time. †¢ When fully implemented, the new System will replace the numerous inconsistent industry accounting regulations, enabling the financial statements of different types of enterprises to become more comparable. 4. Impact Of The New Systems On FIE †¢ Before adopting the new System, FIE’s financial statements which were prepared in accordance with the Accounting Regulation for FIE could not properly reflect the enterprise’s actual financial position and operating results, the enterprise had to make numerous adjustments when they compile financial statements under overseas accounting standards, such as IAS and US GAAP. †¢ The process was time consuming and imposed additional cost of investment to the foreign investors. †¢ After the adoption of the new System, the differences between FIE’s financial statements under PRC GAAP and those prepared in accordance with international accounting practices will reduce further, thereby enabling the foreign investors to assess the performance of their investments more efficiently. 5. China Accounting Standards Convergence With IFRS †¢ The importance and acceptance of IFRS has increased significantly over the past few years. †¢ While actively pursuing convergence with IFRS, the MoF necessarily has to ensure that accounting standards appropriately address the national circumstances that exist during this transitional period in the economy. âž ¢ A very significant portion of the economy is dominated by state owned enterprises. Even after enterprises are restructured into joint stock enterprise and branched out from the government structure, functional or regional government that remain stakeholders still exert significant influences over the enterprises and their trading partners and their transactions. âž ¢ Free markets are not sufficiently developed in many areas. âž ¢ Financial statements are multi-functional, serving not only the needs of the investors but also other interested parties including the State for supervisory and management purposes. âž ¢ Enterprises and professional intermediaries such as auditors and valuers are at a developing stage. During this transitional period, accounting standards must be realistically implementable by the preparers and auditors of financial statements. †¢ On 16 February 2006, the Chinese Ministry of Finance and the International Accounting Standards Board formally announced that Chinese Accounting Standards (CAS) will converge with International Financial Reporting Standards (IFRS) on 1 January 2007. †¢ Converging CAS with IFRS is one of many successful initiatives undertaken by the PRC government over the past global economy. †¢ Investors, analysts, regulators and other interested parties in recent years have been increasingly demanding more consistent and reliable financial reporting from companies around the world. †¢ The adoption and consistent application of accounting standards based on IFRS principles is widely viewed as a commitment to transparent financial reporting by these constituents. Transparent financial reporting is considered as the foundation of investor confidence. †¢ The process of convergence has been started way back in November 2005 when several meetings had been held between MoF and board members of IASB. †¢ The process of convergence will involve integrating the IFRS principles into CAS and will result in the amendment of all existing standards and the issuance of an additional 22 Specific standards. †¢ While the revised CAS will not reflect a literal translation of IFRS, their scope will include all IFRS principles. In additional, they will contain interpretive guidance to address the accounting for specific types of transaction (e.g. combinations of companies under common control) and industry accounting issues (e.g. extraction of petroleum and natural gas). †¢ The new CAS will comprise 1 basic standard and 38 specific standards. †¢ The revised CAS will first be applied to listed companies from 1 January 2007 and gradually applied to other types of entities. †¢ There will be differences between the revised CAS and IFRS to reflect unique circumstances in China. †¢ These differences, among other things, relate to: a. A prohibition of the reversal of asset impairment once it has been made; b. The accounting for certain government grants; c. Related party disclosures between State owned enterprises that have no direct investment relationship. 6. Challenges faced by China in converging with IFRS. †¢ The effect of changing accounting policies involves some efforts such as: âž ¢ Re-designing the financial reporting process to ensure that management has sufficient reliable financial information with which to prepare financial statements that comply with the standards, particularly in regards to the increased levels of disclosure required, and properly supports critical accounting estimates and judgements. âž ¢ The people involved in the financial reporting process will need to develop a new expertise and competency in applying revised CAS. âž ¢ Developing new accounting policy manual; integrating new CAS internal management reporting (budgeting, forecasting, performance measurement) and external reporting (financial, statutory, investor) into daily operations across the organization. âž ¢ Implementing ongoing and sustainable processes such as valuations of share options and derivatives, impairment testing hedge documentation and effectiveness testing, etc. âž ¢ Require identification of new data requirements due to financial statements and disclosure requirements. âž ¢ Train the head office and business units of the new reporting requirements. âž ¢ Provide training to finance and also non-finance staff including key management (e.g. finance, treasury, tax, human resource and sales) on new CAS principles and new reporting requirements. THE NEW SYSTEM OF CHINESE ACCOUNTING STANDARDS Key features and impact of the new accounting standards 1. The new accounting standards represent convergence with International financial Reporting Standards. †¢ Most of the newly issued standards and revised standards make reference to the equivalent IFRS and adopt the principles and treatments similar to its counterpart. †¢ As a result, the financial statements prepared in accordance with the New Accounting Standards will be more comparable with those prepared in accordance with IFRS. †¢ Overseas investors and users of financial statements will understand the financial statements of Chinese enterprise better and the cost of re-preparing financial statements for Chinese enterprises when getting overseas listing will be reduced. 2. The requirement of fair value measurement †¢ Under the new accounting standards, debt restructuring and no-monetary transactions will be measured at fair value and gains that meet certain criteria will be recognized in the income statement. †¢ Whereas before the revision, those transactions were carried at book value and any gains arising from those transactions were not allowed to be recognized. †¢ In practice, the determination of fair values may not be easy for many entities and various valuation techniques are required. 3. Specify accounting treatments for important accounting issues such as business combinations and consolidated financial statement. †¢ In the past, there was neither formal accounting standards nor comprehensive and detailed guidelines in the area of business combinations and consolidated financial statements. †¢ As a result, accounting treatments for similar business combination transactions may have varied across different enterprises causing much confusion and inconsistency. †¢ Therefore, the issuance of the standards on â€Å"Business Combination† and â€Å"Consolidated Financial statement† will provide comprehensive and more authoritative provisions and guidelines on these important accounting issues. 4. Specify treatments on new accounting issues and certain previously off-balance-sheet items will be recorded in the balance sheet †¢ Derivative financial instruments will be recognized on the balance sheet instead of only being disclosed in the notes to the financial statements. †¢ All shares and share options granted to employees to be measured at fair value and expensed in the income statement. 5. Standards relevant to important specialized industries †¢ The New Accounting Standards will include a number of standards that are relevant to those specialized industries. †¢ For example, the four standards on â€Å"Financial Instruments† will have an impact on accounting practices in various financial institutions. †¢ The standards on â€Å"Direct Insurance Contract† and â€Å"Re-insurance Contracts† will affect players in the insurance sectors. †¢ The â€Å"Extraction of Petroleum and Natural Gas† and â€Å"Biological Assets† are standards that are issued specifically for enterprises operating in the petroleum and gas industry and agriculture industry respectively. 6. Impairment of Assets †¢ The previous accounting regulations in China allow the reversal of impairment under certain circumstances. †¢ However, under the new standard, it specifies that any recognized impairment loss for fixed assets and intangible assets cannot be reversed in future accounting periods. †¢ The restriction on impairment loss reversal does not apply to inventories, trade receivables and bank loans. 7. More detailed requirements on disclosure †¢ The new standards provide users of financial statements with more relevant and transparent information, which will facilitate their economic decision-making. †¢ For instances, in respect of accounting policies and accounting estimates, the basis for the determination of significant accounting policies and accounting estimates is required to be disclosed. †¢ In relation to financial instruments, a detailed disclosure on the enterprise’s financial risk exposure is now required. 8. Transitional adjustments †¢ The New Accounting Standards were applicable to listed companies effective from 1 January 2007. †¢ The MOF has issued transitional provisions which are included in the standard on â€Å"First Time Adoption of Accounting Standards for Business Enterprises†. †¢ The standard requires that at the date of transaction, an entity should reclassify, recognize and measure all assets, liabilities and owners’ equity in accordance with the New Accounting Standards and prepare an opening balance sheet. †¢ These transitional provisions may reduce the workload and complexities for preparers’ adoption of the New Accounting Standards.

Shakespeare And Kingship Essay -- William Shakespeare Kings Essays

Shakespeare And Kingship In writing his history plays, Shakespeare was actually commenting on what he thought about the notion of kingship. Through his plays, he questions the divine right of kings, which the kings and the aristocracy used heavily in their favour to win the people's love. In Macbeth, King Richard II and King Henry IV part 1, Shakespeare shows us his opinion of kingship in general. Although the plays are written about individual kings, I think that Shakespeare used the plays as an opportunity to voice his opinion on kings and kingship in general. This was assisted by the fact that he was not prohibited by the true events, because it is well known that all of Shakespeare's plays were written purely for entertainment value, not as a historical record of what occurred. The main notion of kingship that Shakespeare attacks in Macbeth, King Richard II and King Henry IV, is the divine right of kings, where the kings claimed that they were God's counterpart on Earth, and a 'step up' in divinity from the other aristocrats and the common people. In his plays, Shakespeare depicts the kings, and Hal, in King Henry IV, as people who were not, or at least did not act like the direct descendants of God. In Macbeth, he commits treason and murder, the two worst crimes of the day, and neither Duncan nor Macbeth were saved by God, who, according to the theory of the divine right of kings, should have saved Duncan and then Macbeth. When they were killed, they were both king, and therefore the right-hand man of God, the creator, who controls the entire world and who could have stopped them from being killed. In Richard II, Richard bankrupts the country with his blatant mismanagement and his excessive spending on his 'favourites', who are already rich aristocrats, while ignoring the common people who are living in poverty. Richard's behaviour leads to both the aristocracy and the common people disliking him. The aristocrats disliked him because he was bankrupting the country, which they did not like because they were proud to be English and wanted their country to dominate for many more years. The common people disliked Richard because they were living in poverty while Richard was spending huge amounts of money on people who were already wealthy. What Richard did is not the sort of behaviour that is expected from God's representative on Earth, and S... ...he other extreme of kingship - while Macbeth and Richard disregarded the common people, Hal was one of the common people. King Henry fits right into the middle and I think would, by Shakespeare's standards be a perfect king, if only his claim to the throne could not be questioned, particularly the murder of Richard and the "voyage to the Holy Land | to wash this blood from my guilty hand" , which he still hadn't done in the opening scenes of King Henry IV, about a year later. Much of the things that the kings in the plays do may not be an altogether true representation of what they, or even the kings of Shakespeare's day were like. Most of what Shakespeare comments on is his personal opinion - it is he that thinks the kings mistreated and disregarded the common people and he that did not believe in the divine right of kings. It is also important to remember that all of Shakespeare's plays, even the historical ones were above all, written to be entertaining and to impress the Elizabethan audience that they were aimed for. Shakespeare did not write the plays as historical references, but instead as interesting and exciting plays that would make for good, entertaining theatre. Shakespeare And Kingship Essay -- William Shakespeare Kings Essays Shakespeare And Kingship In writing his history plays, Shakespeare was actually commenting on what he thought about the notion of kingship. Through his plays, he questions the divine right of kings, which the kings and the aristocracy used heavily in their favour to win the people's love. In Macbeth, King Richard II and King Henry IV part 1, Shakespeare shows us his opinion of kingship in general. Although the plays are written about individual kings, I think that Shakespeare used the plays as an opportunity to voice his opinion on kings and kingship in general. This was assisted by the fact that he was not prohibited by the true events, because it is well known that all of Shakespeare's plays were written purely for entertainment value, not as a historical record of what occurred. The main notion of kingship that Shakespeare attacks in Macbeth, King Richard II and King Henry IV, is the divine right of kings, where the kings claimed that they were God's counterpart on Earth, and a 'step up' in divinity from the other aristocrats and the common people. In his plays, Shakespeare depicts the kings, and Hal, in King Henry IV, as people who were not, or at least did not act like the direct descendants of God. In Macbeth, he commits treason and murder, the two worst crimes of the day, and neither Duncan nor Macbeth were saved by God, who, according to the theory of the divine right of kings, should have saved Duncan and then Macbeth. When they were killed, they were both king, and therefore the right-hand man of God, the creator, who controls the entire world and who could have stopped them from being killed. In Richard II, Richard bankrupts the country with his blatant mismanagement and his excessive spending on his 'favourites', who are already rich aristocrats, while ignoring the common people who are living in poverty. Richard's behaviour leads to both the aristocracy and the common people disliking him. The aristocrats disliked him because he was bankrupting the country, which they did not like because they were proud to be English and wanted their country to dominate for many more years. The common people disliked Richard because they were living in poverty while Richard was spending huge amounts of money on people who were already wealthy. What Richard did is not the sort of behaviour that is expected from God's representative on Earth, and S... ...he other extreme of kingship - while Macbeth and Richard disregarded the common people, Hal was one of the common people. King Henry fits right into the middle and I think would, by Shakespeare's standards be a perfect king, if only his claim to the throne could not be questioned, particularly the murder of Richard and the "voyage to the Holy Land | to wash this blood from my guilty hand" , which he still hadn't done in the opening scenes of King Henry IV, about a year later. Much of the things that the kings in the plays do may not be an altogether true representation of what they, or even the kings of Shakespeare's day were like. Most of what Shakespeare comments on is his personal opinion - it is he that thinks the kings mistreated and disregarded the common people and he that did not believe in the divine right of kings. It is also important to remember that all of Shakespeare's plays, even the historical ones were above all, written to be entertaining and to impress the Elizabethan audience that they were aimed for. Shakespeare did not write the plays as historical references, but instead as interesting and exciting plays that would make for good, entertaining theatre.

Importance of Reading Essay

On many of the other pages of advice on this site I have emphasized how important reading is as far as learning English is concerned. However, there is a further, very important reason why ESL students should try to develop their reading skills: Educational researchers have found that there is a strong correlation between reading and academic success. * In other words, a student who is a good reader is more likely to do well in school and pass exams than a student who is a weak reader. Good readers can understand the individual sentences and the organizational structure of a piece of writing. They can comprehend ideas, follow arguments, and detect implications. They know most of the words in the text already, but they can also determine the meaning of many of the unfamiliar words from the context – failing this, they can use their dictionary effectively to do so. In summary, good readers can extract from the writing what is important for the particular task they are employed in. And they can do it quickly! Educational researchers have also found a strong correlation between reading and vocabulary knowledge. In other words, students who have a large vocabulary are usually good readers. This is not very surprising, since the best way to acquire a large vocabulary is to read extensively, and if you read extensively you are likely to be or become a good reader! So if you want your child to be successful at school encourage him or her to read. Reading non-fiction in English is probably the most important, but English fiction and any reading in the mother tongue – if done extensively – will help your child develop the reading competence that is essential for academic achievement. The graphic below illustrates the interdependence of vocabulary, reading ability and academic success. Source: http://esl. fis. edu/parents/advice/read. htm Reading enables the mind to think over objects of interest, which enable a person in making informed decisions, its food for the soul, for it nourishes the human intellect in probing things deeper, analyzing things, and provide guidance to people, to instances they have not yet been exposed to life. You see and remember new words and are given examples of how they are used, expands vocabulary. Why Is Reading Important? 1. Reading is fundamental to function in today’s society. There are many adults who cannot read well enough to understand the instructions on a medicine bottle. That is a scary thought – especially for their children. Filling out applications becomes impossible without help. Reading road or warning signs is difficult. Even following a map becomes a chore. Day-to-day activities that many people take for granted become a source of frustration, anger and fear. 2. Reading is a vital skill in finding a good job. Many well-paying jobs require reading as a part of job performance. There are reports and memos which must be read and responded to. Poor reading skills increases the amount of time it takes to absorb and react in the workplace. A person is limited in what they can accomplish without good reading and comprehension skills. 3. Reading is important because it develops the mind. The mind is a muscle. It needs exercise. Understanding the written word is one way the mind grows in its ability. Reading helps children [and adults] focus on what someone else is communicating.

The Media s Influence On Society - 1167 Words

Are you comfortable in your own skin? As a result of spending too much time associating with the media can make you believe differently. While the media commence to advance and develop an incomprehensible factor, the appearance of civilization begins to mold and shape as a reflection to equally match. Despite the element of using false advertisement or infringement, society is charmed by the sense of exhilaration that is generated by the media. Yet civilization remain uncomprehending to the natural effect that the media leaves printed on them. The media is one of the largest and main sources to express ethnocentrism which leads to stereotyping, while intensifying and supporting the fact of self-consciousness. However society is partially to blame for the gossip and wrongful act of civilization in the media. Spreading injurious words and images to progress as an influential involvement in today’s society presents the media to be perceived as a distrusting figure. The media favo rs portraying different ethnic groups for society to view as displeasing. From spamming story constantly targeting these groups the word stereotypes begins to expand rapidly not just across the country but the world. Stereotyping is labeling a group based off of certain beliefs, such a racial profiling which can result in discouraging feelings in an individual. Leaving undesirable feelings on society the media is still used to support these unfitting acts. Providing civilization comical views ofShow MoreRelatedThe Media s Influence On Society1462 Words   |  6 PagesThe media s the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent, and that s power. Because they control the minds of the masses† (Ruddy, 2002). Malcolm X, a prominent African American human rights activist, strongly believed that the media played a vital role in how they make society perceive events and people. An issue that is present, historical ly and currently, is media contributing to racism. When news is reported involvingRead MoreMedia s Influence On Society1454 Words   |  6 PagesThe Media’s Chokehold The media s influence on society is suffocating and undeniable. Body image has become overwhelmingly present in most media today. The front cover of a magazine may critically exclaim â€Å"so-and-so has cellulite† or â€Å"so and so is too thin†. Popular reality stars like Nicole Polizzi (otherwise known as â€Å"Snooki†) have been criticized for being to large and then criticized for being too thin after dropping the weight. The media teaches people to be unsatisfied with their bodiesRead MoreMedia s Influence On Society1269 Words   |  6 Pages The media is full of countless things, it has completely changed the world and is now a part of our everyday lives (Bookman, 64). With television, radio, newspapers, books, etc†¦ working their way into our everyday lives it is impossible to live without the media today. Along with it being persuasive, informational and a great source for entertainment it also has a large binding influence on societies all over the world. Media aspects are radically reshaping the world (Marina 240) and though someRead MoreMedia s Influence On Society1256 Words   |  6 PagesThe media are full of countless things, they have completely changed the world we live in and are now a part of our everyday lives (Bookman, 64). With television, radio, newspapers, books, etc†¦ working their way into our everyday lives it is almost impossible to live without the media. Along with it being persuasive, informative and a great source for entertainment, it also has a large binding influence on societies all over the world. Media aspects are radically reshaping the world (Marina 240)Read MoreMedia s Influence On Society1293 Words   |  6 PagesMedia is a major contributor of how social groups are perceived in today’s society. Mediais around us every day almost all day, and it constantly sends messages about the world’s environment. There are many indicators shown pertaining to how media really af fects society. One of the most prominent explanations of those questions is the way media influences stereotypes. There has been previous research linking media sources and biased attitudes. This research paper explores articles supporting mediaRead MoreMedia s Influence On Society Essay1250 Words   |  5 Pagescapitalist society the United States has developed a media centered culture. Society has been influenced tremendously by mass media it seems as if it has become a necessity in life. 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If looks don t matter then why is airbrushing used by the media to hide any flaws a person has? What exactly is causing this, why do we feel like we are just not beautiful the way we are? Its the media. It’s because the media promotes a certain body image as being beautiful, and it’sRead MoreThe Media s Influence On Society1416 Words   |  6 Pagesâ€Å"The media s the most powerful entity on Earth. They have the power to make the innocent guilty and to make the guilty innocent, and that s power. Because they control the minds of the [people]† (Malcolm X). The message of this Malcolm X quote is that society can control the mind of the individual. This is true. For many years, society has influenced everyone worldwide both negatively and positively. That is because society has the ability to control the individual’s decisions. They can control

Politics, Propaganda, and Hate Essay - 1007 Words

Politics, Propaganda, and Hate Propaganda is very important issue in our society. The word propaganda however, has a very negative connotation. This may happen because people tend to associate it with the enormous campaigns that were waged by Hitler and Stalin, (Delwiche 2002). Now propaganda has a different face. It may not be as obvious as but it is used regurlarly by politicians, companies and others who are interested in influencing our behaviour. Propaganda is the control of opinion by significant symbols influence, (Laswell, as cited in Chadwick). There are seven types of propaganda devices. These have been categorized into a few groups by the Institute of Propaganda Analysis (IPA): Name Calling, Glittering Generality,†¦show more content†¦A relevant example is the Afghani response to the war against terrorism. Aaaron Delwiche published a story on his site which was retrieved from the BBC. They reported a story in 2002, form the the Afghan Islamic Press (AIP) about the propaganda material that was being distributed in Afghanistan. The pamphlets were distributed in Nangarhar Province in Eastern Afghanistan. The following is an quote from that pamphlet: It is a well known and open fact that since mankind has been in existence a tireless and endless struggle has been waged between good and evil. Good was always victorious and evil was destroyed and devastated. This struggle continues today. Some Muslims have been confused and disappointed by this anti terrorist campaign, but thank God, they separated the true Muslims from the hypocrites . . . (America) captured strategic points and put its armies in the sacred places of the Muslims . . .by creating pretexts and conspiracies, as America was afraid of the success of Muslims in the world, (Author, Unknown). Although the source and authenticity of the pamphlet are unknown, it does appear to reflect the views of true Muslims. Judging by this letter they hold serious contempt for America. They spread this hate by polarizing the two parties with the words good and evil. The Muslim community being the previous and America being the latter. These prejudices createShow MoreRelated Protestant Propaganda1037 Words   |  5 PagesProtestant Propaganda What do you think of when you hear the name Ireland? Ireland is a relatively small island off the coast of Great Britain with a land area of 32,424 square miles (Delaney 2). There are several things that you may associate with this country such as St. Patrick’s Day, shamrocks, beer, and strife. The source of the bitterness behind this conflict began centuries ago, when Britain came over and forced Protestantism on the Irish Catholic inhabitantsRead MoreHas Dr. Martin Luther Kings Dream Become Reality?870 Words   |  4 Pagesracism too has taken leave. One glance at our society and it is self-evident racism is still existent. 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He said in one speech that â€Å"It is always more difficult to fight against faith than against knowledge.† By using faith for his benefit, he gave people something to fight for, and connected them and their faith to their â€Å"mission† by using propaganda, and speeches, and never stopped persuading people to join his movement. Another person who used faith to help accomplish a goal was Pope Urban the second, the initiator of the first Crusade. Pope Urban said that God wanted the Christians to fight

Marijuan Should It Be Legal - 867 Words

Walker 1 KayLee Walker Mrs. Kiger 9 December 2014 English 101 Marijuana: Should it be legal? Many people have their own beliefs about marijuana legalization in the United States. Legalization advocates say that marijuana would help with cancer patients and people with other painful diseases cope with the pain, nausea, etc. Also, it would create more jobs and free up the jails. On the contrary, those against legalization say it would give addicts more opportunity to experiment with other, stronger drugs. The legalization of marijuana would benefit and harm the United States in a multitude of ways. Legalization advocates say that marijuana, also known as cannabis, is one of the main reasons for prison overflow in the United States. Men and women with multiple drug charges get sent to prison and there isn’t enough room for the criminals that commit more serious crimes. Many states have shortened prison time for drug crimes, and the federal system is inching toward doing the same (â€Å"We Can’t Afford to Ignore Drug Addiction†). If marijuana was legalized, there would be more room in jails and prisons for criminals that do far worse things. Also, cannabis has been found to help people with sicknesses in their body such as cancer, glaucoma, or nerve pain. Scientists and doctors have discovered that marijuana helps to treat muscle spasms, nausea, poor appetite, seizures, and crohn’s disease. The leaves, buds and Walker 2 flower of the plant contain a unique chemical known asShow MoreRelatedLegalization of Marijuana Essay1606 Words   |  7 Pagesstems and the seeds of a plant called cannabis and people usually smoke it in the form of cigarettes for relaxation. Ever since marijuana hit mainstream America over 30 years ago, government prohibition of it has been the subject of an ongoing debate. Should marijuana be legalized? Proponents of marijuana argue that there are numerous medical benefits and that the drug is not more harmful than tobacco or alcohol. Therefore, prohibiting it intrudes on personal freedom. On the other hand, opponents argueRead MoreThe Miracles of Cannabis Essay example957 Words   |  4 Pagesoffer are far too great to ignore. Cannabis is one of the safest drugs, prescription or illegal, known to man. No one has ever died from on over dose. Having a drug this safe available, which effectively can treat so many different serious illnesses should be legalized in all stat es. â€Å"After sixteen years of court battles, the DEA’s chief administrative law judge, Francis L. Young, ruled September sixth, 1988: Marijuana, in its natural form, is one of the safest therapeutically active substances known†

Analysis of SPMS and Competitive Advantage

Question: Discuss about the Analysis of SPMS and Competitive Advantage. Answer: Introduction The organizations functioning in the current competitive economy try to implement innovative strategies like the strategic performance measurement systems to critically analyse their business process. These methods of evaluation provides significant knowledge to the stakeholders about the performance and sustainability of the organization. The most common Strategic Performance Management System variant also known as Balance Score Card was introduced in the business to upgrade the business model of an organization. This system enhances the paraphrasing of the strategies, missions and objectives of the firm (Elijido-Ten 2013). These measures are created from the set of objectives derived from the customer, financial, learning and internal process of business perspective. The current paper tries to analyze the SPMS process of two Australian companies namely QBE Insurance Group and Santos Ltd. A comparison of the annual reports for two years of each organization will be undertaken to evaluate the SPMS process and a comparison of two years. The paper even tries to find out whether this process is in line with the annual reports and any compensations and rewards paid for it. QBE Insurance Group QBE Insurance Group is one of the most renowned general insurance and reinsurance organization functioning in all the significant insurance market. QBE is enlisted in the Australian Securities Exchange (ASX). The organization has its headquartered located in Sydney and is currently employing around fourteen thousand people over different countries. The strategy of the firm concentrates on transporting the prospective that arises with being one of worlds true insurers. The firm was established in the year 1886 and currently has a market capitalization of $ 18 billion and has around 2.3% share of the ASX index ("QBE.COM" 2017). In the current scenario, it is seen that the sustainability reporting and environmental market-driven forces analysis is undertaken by the organization. The risk section of the annual report of the organization addresses the climate change risks of the business organization. It is seen that after analyzing the annual reports and sustainability report of two years, a general idea about the Strategic Performance and Measurement System process for the organization can be determined. The analysis of the annual report for the year 2015 for QBE Insurance show that there are no precise explanation of the effect of climate change on the business have been discussed but only a indication to an increased number appalling claims in the earlier years and Superstorm in 2012, which had an adverse effect on the monetary condition of a wholly acclaimed captive reinsurer of QBE (Equator Re). It was inclusive of the deductibles and savings made divisionally on various divisional tragedies and unit risk increase of the loss program, which raised further in the next year leading to a decrease in the excess income loss (Calace, 2014). The annual report of the previous year show that the section of environmental management of risk is in alignment to the Corporate Governance Council principles of ASX (Rodrigue, Magnan and Boulianne 2013). It includes the managing and supervising of the current risks and the opportunities in relation to the climate change in order to diminish any unfavourable impacts on the business of QBE and even secure the funds of the shareholders. There are no definite reference to the risks involved with climate change in the section of risk in the annual report. The indication towards man-made and natural calamities are the drivers of Insurance risk and the improvement process comprising of recording the historical pricing and claim evaluation and setting a patience to focus risk, reinsurance among the others. QBE even responses to the Carbon Disclosure Project to easily recognise the risks in the operations of the business, expenditure or revenue due to transformation in the physical climate parameters, the drivers of risk being unsure of the physical risks with an unknown timeframe, magnitude of the effect being low likelihood evaluated about the likeliness or not. The evaluation of the insinuation of the climate change belongs to a larger part of a risk management network. The problem of climate change is incorporated into the business strategy of QBE. The organization has a Group Committee, which supervises, monitors and provides report on sustainability problems on the basis of the data from the individual divisions. There are employees of QBE in the division that concentrates on evaluating and managing the operational costs and recognizing opportunities to raise the efficiencies (Carraro, Kolstad and Stavins 2015). Contemplation of the financial insinuation of climate change challenges and opportunities is created into our reassessment of the business process management. In every six months, every division undertakes a list related to climate change and takes initiatives within the specified zones and an appointed senior manager provides a report to the Group Chief Officer in a paper, which is forwarded to the QBE Group board. It is even se en that the one of the most vital risks is the prospect under the prediction of the effect of destructive events which are related to transform in the pattern of weather on the organization and on the insurance industry in general (Klovien? and Speziale 2015). There even exist operational risk of claim cost rise due to the effect of the climate change scenarios. The performance of the company links with the compensation plans and rewards so that the employees are motivated to give out their best. The SPMS evaluation is done by studying the financial performance and the financial measures of the targeted year. Conclusion The report on sustainability and climate change risks has been increasing in the ASX listed organizations. Though, it is seen that the data published in the annual report and in an annual sustainability report is only significant to the stakeholders if it is combined with the firms results and strategies. It is seen that the two companies QBE Insurance Group and Santos Ltd fail to make a decisive link the SPMS measures, targets with executive rewards and compensation plans. It is seen that there have been minimum changes in the financial performance of both the companies and both the firms have been able to succeed to tighten their competitive advantage over the two years that have been analyzed. Reference List "QBE.COM". in , , 2017, https://www.group.qbe.com [accessed 19 January 2017]. Calace, D., 2014, April. Disclosure in Non-Financial Reports as Strategic Leverage: can it Increase Firms' Value?. In International OFEL Conference on Governance, Management and Entrepreneurship (p. 84). Centar za istrazivanje i razvoj upravljanja doo. Carraro, C., Kolstad, C. and Stavins, R., 2015, February. Assessment and communication of the social science of climate change: Bridging research and policy. In Memorandum from Workshop conducted (pp. 18-20). Elijido-Ten, E.O., 2013. Determinants of strategic performance measurement system disclosures in Australia's Top 100 publicly listed firms. Journal of General Management, 38(4). Klovien?, L. and Speziale, M.T., 2015. Sustainability reporting as a challenge for performance measurement: literature review. Economics and Business, 26, pp.44-53. Parisi, C., 2013. The impact of organisational alignment on the effectiveness of firms sustainability strategic performance measurement systems: an empirical analysis. Journal of Management Governance, 17(1), pp.71-97. Rodrigue, M., Magnan, M. and Boulianne, E., 2013. Stakeholders influence on environmental strategy and performance indicators: A managerial perspective. Management Accounting Research, 24(4), pp.301-316. Songini, L., Pistoni, A. and Herzig, C. eds., 2013. Accounting and control for sustainability. Emerald Group Publishing.