Financial Statements and Stakeholders

Introduction In this report six different users of financial statements will be identified. Each user group will be described and the reasons why they use financial statements will be examined. Analysis and calculations of relevant and specific financial information will be performed to reflect the performance of the company, and how this is seen by the different stakeholder groups.The two companies I have chosen are J.Sainsbury plc and WM Morrison’s Supermarkets plc, hereafter known as Sainsbury’s and Morrison’s. This is because these two companies are two which have a large number of stakeholders who will be affected by the company’s financial statements. Sainsbury’s and Morrison’s also compete within the same sector and thus the financial statements and companies are obviously comparable, this will help with benchmarking to analyse the data .(Mclaney and Atril.2008). This will help to determine, along with the relevant analysis and calculations, which stakeholders will be more pleased with the financial statements out of the two supermarkets. As of May 2014, Morrison’s had 11% of the market, and Sainsbury’s 16.6% (Garner.2014). The financial statements we will be assessing are income statements and balance sheets. These are the two statements which are of greatest importance to the majority of stakeholders. I have attained the most recent financial statements from the two companies from their recent annual reports. This report will use financial ratio’s to assess the profitability, efficiency, Liquidity, Financial Gearing and Investment potential within Morrison’s and Sainsbury’s.(Mclaney and Atril.2008.). Boards of Directors The owners and boards of directors of both Sainsbury’s and Morrison’s would use financial statements to review the performance of management and assess the overall performance of the company. For the smooth operation of the organisation, the managers and owners also need the financial reports to make essential business decisions. For example the current debt to equity ratio is important in deciding the amount of long term capital that would be required to be raised for making certain business decisions. This can be determined by using the following formula. Total liabilities Total assets x 100% Sainsbury’s (?m)Morrison’s (?m) 10535 16540 x 100% =63.7% 6037 10792 x 100% = 55.9% As can be seen Sainsbury’s debt to equity ratio is 63.7% with Morrison’s at 55.9%, a difference of 7.8%. This ratio is one of the key set of 10 identified by Laurent (2006) in being able to predict a firms performance. This thus means that they are financing their growth more by debt than they are by their current assets than Morrison’s. However this is not necessarily a bad thing, and this could mean that they growing more than if they did not utilise this outside financing. If this increases earnings by a greater amount than the debt interest that would be incurred then it is definitely beneficial to do so, thus the board would be pleased with what they have seen from the financial statements. Shareholders Shareholders receive a set of financial statements as a right, and are the only stakeholders to do so. The shareholders interest will be in what the company is doing with the money they have invested, and whether it is making a profit or loss. If it is profitable, they will want a return in the form of dividends, so they will be concerned with the level of dividends the company is paying out year on year and the potential for future profits and dividends. If profit levels and dividend pay-outs diminish noticeably, or if no dividends are paid out because the company has made a loss, then they will consider selling their shares and investing in something else which will give them a higher return. Obviously operating profit margin is also needed to measure overall performance and this can be calculated as follows. Profit before interest and tax Sales x 100% Sainsbury’s (?m) Morrison’s (?m) 1009 23949 x 100% =4.2% (95) 17680 x 100% =-0.5% Supermarkets usually operate at low operating margins, so these results are not wholly surprising (McLaney and Attril.2008) Morrison’s extremely poor performance this year is down to incredibly high administrative costs, this could be seen as possibly due to a new initiative or launch of service which required high costs to get this off the ground, and therefore this may pay dividends in the future. Thus it will be imperative to see how they will perform in the next year without these high administrative costs. Sainsbury’s operating profit margin can be compared with the previous year to see how they are progressing, and this was 3.8%. Thus their net profit margin has increased and the shareholders will be pleased with this performance as it could increase shareholder dividends. Banks Banks are extremely interested in a companies such as Sainsbury’s or Morrison’s financial statements. For example if a company has an overdraft or a bank loan, then the banks need to make sure that a company can afford to pay these loans it owes off (Palepu and Healy.2008). If a company is applying for a loan, similar considerations apply, although the bank would in addition insist on looking at more up to date information than the last set of statutory accounts as these could be rather out of date. The banks would calculate this by with the acid test ratio. This shows the company’s ability to pay its current liabilities from liquid assets. This is calculated as follows. Current assets less inventory Current liabilities Sainsbury’s (?m) Morrison’s (?m) 4362-1005 6765 = 0.5 : 1 1430-852 2873 = 0.2 : 1 Supermarkets by nature have very low acid test ratio scores due to some stock on their shelves not selling as quickly as they would like. However Morrison’s at 0.2:1 is much lower than the company would be wanting to have, whereas Sainsbury’s at 0.5:1 is relatively healthy for a company that operates as a supermarket. Creditors A company’s trade creditors and suppliers will also obviously be interested in a companies financial statements such as the balance sheet and income statement. Such stakeholders will be concerned with whether the company can pay regularly for its purchases from them, so they will have an eye to the cash position of the company – its liquidity. They will also be interested consequently in any items in the accounts which may affect this liquidity such as bank overdrafts or loans, as such items would usually indicate cash problems in the company which may render it an insecure buyer for the future. Creditors are also extremely interested in creditor days. This is the average payment period to payables expressed in days. This can be calculated by the following formula. Trade payables x 365 Purchases Sainsbury’s (?m)Morrison’s (?m) 2272 x 365 16606 = 50 days 2692 x 365 22562 = 44 days As can be seen, Sainsbury’s creditors will be the more pleased out of the two sets of stakeholders for both supermarkets. This is because they are paid on average six days faster than Morrison’s creditors and thus will have a more efficient flow of cash. This could mean building a better relationship with these creditors. However Morrison’s may also be pleased as it means they are able to hold on to this cash for longer and maximise cash flow with longer creditor days payable. Trade debtors/customers. These persons would be interested in the company’s likely continuance into the future as a secure source of supply, and so would look for any items affecting this, such as production difficulties, sales price increases etc. These will also be most interested in debtor (receivables) days, this is the Average collection period for receivables expressed in days. It is calculated as follows. Trade receivables x 365 Sales Revenue Sainsbury’s (?m)Morrison’s (?m) 433 x 365316 x 365 23949 = 7 days17680 = 7 days Here both Sainsbury’s and Morrison’s debtors will be equally as pleased when analysing the financial accounts for both of these companies. This is because they both receive a similar amount of time in which to pay their debts. Equally both of the supermarket chains will be relatively pleased with this as they will be in a similar position to each other in receiving the money from debtors. Similarly this is much shorter than the time it takes both to pay their creditors, and thus their cash flow efficiency will be maximised. Competitors Competitors will also be interested in the financial results of a rival in the same industry sector to see whether its results are better or worse than its own, whether it has brought new products to the market place and how these have been doing (Palepu and Healy.2008). Competitors of Sainsbury’s such as Asda and Tesco may also be interested to compare things such as costs of goods on the income statement to compare this to their own performance. A rival’s bad result, when its own is good, would enhance performance in the eyes of its own shareholders. A rival’s similar adverse performance may reflect that both are hit by the same business factors. In the retail business something that both Morrison’s and Sainsbury’s would be interested in seeing is how their inventories turnover period compares with that of their rivals. It can be calculated as follows. Inventories x 365Cost of sales*Sainsbury’s Morrison’s 1005 x 365852 x 36522562= 17 days16062= 20 days Here Sainsbury’s will have the more pleased boards of the two supermarkets when analysing their competitors in terms of inventory turnover. This is because on average they manage to turn over their inventory 3 days quicker than Morrison’s. This demonstrates that they have a more efficient stock system and are selling their products at a faster rate, which could lead to a better overall performance. Conclusion As can be seen, a range of different stakeholders have reason to be interested in a companies financial statements. These stakeholders range from being interested in their own personal gain, those such as Shareholders, as well as being interested in how it impacts upon other stakeholders, through the analysis of both debtor days and creditor days. Financial reports are important for all different stakeholders so they can decide whether or not it is beneficial to be involved with a certain company, they are always interested in the going concern of the company. It is important for numerous reasons that these stakeholders have access to the accounts to gain clarity and for the continuation of the working relationship with companies such as Sainsbury’s and Morrison’s. It is therefore important that the accounting is accurate and up to standards for these different stakeholders of financial statements, it is also useful for comparison of companies and as can be seen from the analysis Sainsbury’s stakeholders will be more pleased with the financial statements than Morrison’s. Bibliography Garner, E. (2014). Kantar, UK grocery growth at lowest level for 11 years, [Online] http://uk.kantar.com/consumer/shoppers/070514-kantar-worldpanel-uk-grocery-share-data-april-2014/ [Accessed online on 01/11/2014] J.Sainsbury’s plc, 2014. Annual Report and accounts 2013-2014. [Online]. http://www.j-sainsbury.co.uk/media/2064053/sainsbury_s_annual_report_and_ accounts_ 13-14.pdf. 2014. [Accessed online on 01/11/2014] Laurent, C.R. Improving the efficiency and effectiveness of financial ratio analysis. Journal of Business Finance and Accounting. [Online] Vol 6(3). 2006. p401-413. McLaney, E. J., Atrill. P. (2008). Accounting and finance : an introduction. Fourth edition. Harlow: Pearson. Palepu, K. Healy, P. (2008) Business Analysis and Valuation: Using Financial Statements. Mason:Thomson Learning WM Morrison’s Supermarkets plc , 2014. Morrison’s Annual Report 13-14 [Online]. http://annualreport.marksandspencer.com/downloads/MS_AR2014_Annual_Report.pdf [Accessed online on 01/11/2014]

Psychological Basis Of Behavior Essay

Until recently the causes of psychological disorders were not so clearly defined. Then advanced imaging techniques made it possible to see various areas of the brain and pinpoint areas that control behavior. It has been long known that the brain uses chemical messengers called neurotransmitters for signaling during its various processes. Advances in neuromedicine revealed that a lot of neurological and psychological disorders have a basis in imbalances between various neurotransmitters in the brain. Diseases like Parkinson’s, Schizophrenia and Obsessive-Compulsive Disorder are only a few where administering drugs that controlled levels of various neurotransmitters in the brain could control the disease symptoms and in some cases even provide a cure. Indeed, it was the discovery of these pharmacological agents that led to the discovery of newer agents that could control various neurological disorders by manipulating levels of neurotransmitters. Development of various drugs for schizophrenia was done on the basis of the fact that they had the ability to block dopamine receptors. In addition it was noticed that there was also an increased number of dopamine receptors present in these patients1. Similarly, in patients who suffered form Obsessive-compulsive disorder (OCD) an abnormality in the neurotransmitter serotonin was implicated and it was shown that drug therapy that did not affect 5-HT receptors was ineffective in the treatment of OCD6. Parkinson’s disease like schizophrenia also is due to an abnormality in dopamine levels but in Parkinson’s dopamine levels become depleted4. Parkinson’s disease is a movement disorder caused by the depletion of dopamine produced in the substantia nigra, a part of the brain that is responsible for voluntary movements of the body11. Parkinson’s disease is a neurodegenerative disease that affects 1% of the population. Its pathophysiology involves degeneration of substantia nigra. This portion is responsible for movements in the body. Various hypotheses have been proposed concerning the causes of the disease and include genetic factors, environmental factors and viruses. Amongst these genetic factors are considered the most important and mutations in various genes have been identified that are linked to Parkinson’s disease. Genes that have been implicated are PINK-1, DJ-1, and LRRK2 and it is thought that in addition to hereditary viruses and toxins are thought to cause theses mutations4. Parkinson’s disease is characterized by a fine pin-rolling tremor of the hands, rigidity, bradykinesia, an expressionless face called a mask like face and a parkinsonian gait characterized by small steps and reduced swing of the arms. Additional symptoms may be present and include difficulty in chewing and swallowing, depression, fatigue, dementia, speech problems, constipation, urinary problems and orthostatic hypotension7. Symptoms vary from patient to patient and can also have drastic emotional consequences for the patient. Diagnosis is often difficult as there are no tests available and is usually made on history and examination of the nervous system. Various treatment options are available and are mainly aimed at increasing the levels of dopamine in the brain. These include Levodopa, which is a precursor of dopamine and the nerve cells use synthesize dopamine. Other drugs like bromocriptine, apomorphine and pramipexole act by imitating the activity of dopamine4. There is no definitive cure for this disease and the treatment is only symptomatic. Adjuvant therapy may be given to relieve symptoms such as depression. Schizophrenia is another disorder that is caused by an imbalance between dopamine levels. The difference is that high levels of dopamine are found and the disease has mainly psychiatric manifestations. The cause of schizophrenia still remains unknown and this has been hampered largely by the different subtypes of the disease presenting a large variety of symptoms and involving different areas of the brain. It is also a feature of diseases like Alzheimer’s and Huntington’s disease9. Schizophrenia is characterized by auditory and visual hallucinations, delusions in which the patient thinks that his thoughts are being controlled externally and paranoid behavior believing someone is poisoning him, disorders of movement, cognitive dysfunction and emotional symptoms such as lack of interest in surroundings and social withdrawal2. Newer research has suggested that people with schizophrenia may experience an inability to smell certain items suggesting a disorder in the orbitofrontal region of the brain and surprisingly this sensory deficit has also been found in patients with Parkinson’s disease10. Other studies indicate that abnormalities in the amygdalia a region of the brain dealing with psychological processes may cause schizophrenia and other psychiatric disorders8. Though the cause is still doubtful it has been seen that schizophrenia runs in families thus suggesting a genetic factor. Environmental factors and trauma during birth have also been suggested as causative factors. In the past agents used to treat schizophrenia like chlorpromazine and haloperidol blocked both D1 and D2 receptors and caused extra pyramidal side effects2. But the newer agents like clozapine have a high affinity for D1 receptors and thus do not cause unwanted extrapyramidal side effects. Other agents that have fewer side effects are risperidone and olanzepine and are very effective in controlling symptoms. All of these agents act by reducing levels of dopamine in the brain thus enabling the control of symptoms. The genetic predisposition to schizophrenia is now widely known. Family history of mental ailments such as schizoaffective disorders, bipolar disorders and depression, are a very strong indication and predisposition to developing schizophrenia. However, complex researches in the pattern of schizophrenic disorders among monozygotic twins have not been able to establish the full authenticity of the claim. The scientists claim that schizophrenia has been associated with the â€Å"shy gene† or 5-HTT gene. Currently, having a schizophrenic geneticity is only the first link; further development is dependant on other factors as well. (Schizophrenia. com, 2007)12 Many claim that there exists a link between schizophrenia and the environment. This is based on the fact that increased risk of schizophrenia within families cannot be singly attributed to the cause of it alone. The environmental factors that are thought to play an important role in causing schizophrenia include psychosocial, biological and physical factors, which are in effect from birth till maturity. It is now claimed that the interaction of the genetic and the social or environmental factors are very important in the development of disease in schizophrenic patients. (Tsuang, 2001) Many of the environmental effects that come into play do so in preterm and in early childhood. The highest contribution seems to be the state of labor, for example, hypoxia, CNS damage RH incompatibility of the mother and child etc. Also, other prenatal factors may include maternal depression, bereavement and flood and famine. Rubella infections and infections of the CNS are also thought to play a very important role in the development of schizophrenia. Schizophrenia. com, 2007)12 Obsessive-compulsive disorder is another psychiatric disorder that has at its cause an imbalance between neurotransmitters. In this case the neurotransmitter is serotonin. The areas of the brain thought to be involved in this disorder are the basal ganglia and the frontal lobe6. People with OCD have obsessional thoughts and t he compulsion to carry out those thoughts repeatedly3. Patients often have an awareness of their abnormal thought patterns and are distressed by them but are unable to control them. Common symptoms are patients exhibiting rituals and having unwanted thoughts and behavior patterns. Patients may have unwanted thoughts of a fear of germs or hurting someone called an obsession and compulsions are the acts of carrying out those obsessional thoughts like repeatedly washing and cleaning or repeatedly counting or checking things over and over again3. Sometimes it manifests in conjunction with other psychiatric disorders like schizophrenia and depression. It often resolves when these disorders are treated. It has also been seen with diseases like Parkinson’s disease and Huntington’s chorea6. This disorder usually starts in adolescence and the patient is usually aware that he has some psychiatric ailment. The etiology is uncertain but Obsessive-compulsive disorder also has a genetic component. Though environmental factors are also a major cause, head trauma has also been implicated in certain cases6. Various treatment options are available including behavioral therapy. Drugs called selective serotonin reuptake inhibitors act by delaying the uptake of serotonin into the neuron and thus prolonging it’s action. This controls the deficiency of serotonin thought to be involved in causing obsessional symptoms. Drugs that are being used include fluoxetine, sertraline, fluvoxamine, paroxetine and clomipramine. Drug therapy used to treat other anxiety disorders is not effective in obsessive-compulsive disorder since it may not target the 5-HT receptors that are used by serotonin. Adams et al (2005)14 reported an up-regulation of serotonin receptors in caudate nuclei of OCD patients. Administration of SSRI drugs was tested in OCD patients. When untreated patients were compared with healthy normal individuals, it was found that cerebral 5-HT (2A) receptors binding were high in these patients. However, this difference was diminished when SSRI drug was administered to the patients. Different studies have reported that 5-HT reuptake inhibitors (SRIs) are most successful in treatment of OCD (Mansari & Blier, 2006). This suggests serotonin depletion may be a vital cause of this disease. Normally, serotonin is actively involved in moderating flow of messages from orbital frontal cortex to thalamus via caudate nucleus. Various pharmacological studies have suggested 5-HT concentration in OFC is regulated by 5HT2 like receptors. SRI drugs modify 5-HT receptors regulation of serotonin and hence mostly used in treatment of OCD (Mansari & Blier, 2006)15. Delgado and Moreno (1998)16 also reported that these drugs binding potency is related to hallucinogens. Pitterger et al (2006) reported that drugs that reduce elevated glutamate levels in brain might be effective in treatment of OCD. Pitterger et al (2006)17 suggested antiglutamatergic agent riluzole (Rilutek) play vital role in reducing glutamate hyperactivity in the cortico-striato-thalamo-cortical circuitry. Conclusion Overall a link has been found among various mental illnesses. This is evident by the fact that obsessive-compulsive disorder may be present in people who already have Schizophrenia or Parkinson’s disease. This overlap suggests that similar areas of the brain are involved in the etiology of these diseases and also that similar neurotransmitters may also be involved. Also interesting is the similarity in the deficiency in the sense of smell in both Parkinson’s and schizophrenia. As research progresses and advanced neuroimaging techniques become available it will become possible to interlink these diseases to one another. Special areas of interest may be the basal ganglia and the amygdalia as they are seen involved in a variety of neurological disorders. Parkinson’s disease is a neurological disease, having a progressive nature. There are certain peculiar signs and symptoms that a Parkinson patient presents with; these include tremor, rigidity, akinesia or bradykinesia. Etiologically, Parkinson’s disease is found in 1% of the population above 60 years of age. The ratio increases in people above 70 years of age. Although, also found in women, predominantly affects male gender. The role of environment in causing Parkinsonism is worth mentioning. Carbon mono-oxide and manganese, apart from certain pesticides play the major role in causing the disease. Parkinsonism among old aged people is idiopathic, but familial inheritance can be possible. A lot is not known about the role of genetics and inheritance of this disease, but occurrence in younger ages carries a higher probability of familial inheritance. It has been found that schizophrenia and Parkinson disease may share similarity by showing dysfunction of the prefrontal cortical areas of the brain. Also, both these conditions are the result or excess of deficiency of the levels of dopamine, which in turn dictates the treatment plan for such conditions. Similarly, patients suffering from Parkinson’s disease may show the presence of obsessive compulsive disorders, and the severity depends upon the length of the disease progression. The relation between these three conditions presenting in close relation with each other raise many questions about the progress of each disease, and whether treatments of each condition contain treatments for others as well. (Maia, 2003)13

Different Views On Native Americans

Anne Nichols Rochester College I chose to write about these two authors because their views on the Native Americans are both very different and I think it is interesting as to why. Benjamin Franklin who writes (Remarks Concerning the Savages of North America, p. 244-248) seems to have a much more positive and understanding outlook towards the Indians, where Mary Rowland who wrote (From a Narrative of the Captivity and Restoration of Mrs..Mary Rowland, p. 27-143) is much more negative. Mary was a captive of the Indians for a period of time so her opinion of them is a bit more personal and biased. It seemed as if Franklin wanted people to understand that even though the Indians where different from them that that was okay. All cultures are different, and within those cultures people's lives are different, but that doesn't make them evil. His opening line says it perfectly, â€Å"Savages we call them, because their Manners differ from ours, which we think the Perfection of Civility.The y think the same of theirs† (IPPP). He starts off by going over the gender roles in their society explaining how the young men are hunters and warriors and at old age provide council. The women till the ground and bring up the children. He also examines how it is a rule of politeness to the Indian people not to answer a public request the same day that it is made, as to not send the wrong message that what is being considered is not important. He goes on for a bit to really emphasize the Indians politeness at all times.Franklin generally has a warmness toward the Indians and is able to sit back and appreciate them for their culture rather than criticize them because they have different views on the world then the Colonists did. Franklin makes a very interesting comparison when he takes the government in the Indian council and the British House of Commons. He first states about how when someone is going to speak in the Indian council everyone remains quiet and listens, then eve ryone waits after he is done for him to collect his thoughts and make sure he did not miss anything.He then speaks about how in the British House of Commons people are usually screaming over another and house speaker has to yell for order. This is a good example by Franklin to show in a way how the Indians where more civil than the Europeans. Mary Rowland does not have the same attitude. Rowland narrates her story in first person and it is about the things she witnessed and the experiences that occurred to her during her time as a captive with the Indians. During an Indian attack she witnessed friends and family being murdered ferociously.When she was captured she traveled with her youngest gather, battling injury starvation and depression while being moved from Indian village to Indian village. She constantly refers to them as heathens and inhumane creatures along with many other negative terms. Along her Journey her youngest dies and she is separated from her remaining children. H er captives give her a Bible they retrieved from a raid and she quickly turns to her faith to give her the strength she needs to make it through this situation.Mary throughout her writings is extremely passionate, her tone is generally despair but she remains hopeful that she will be reed eventually. Apart from the tragedy that Mary had to live with I think the two writings are also different because of Marry dedication to her puritan lifestyle. You have these puritans who live and breathe the bible clashing with this culture of people who don't. Everything about the Indians probably looked heathen to them. Mary draws many references from the Bible which helps her keep hope, I find it ironic that with such a heavy Christian faith that she keeps a negative outlook towards the Indians.This Puritan way of life has almost lead her to be ignorant of the Native Americans. Rowland fails to ever place the natives in a positive view. On many accounts, Rowland questions why God would allow th e natives to prosper off their brutal ways: â€Å"But now our perverse and evil carriages in the sight of the Lord, have so offended Him that instead of turning His hand against them, the Lord feeds and nourish them up to be a scourge to the whole land†. She finds it hard to understand that her culture had invaded the natives' land and in reality they are Just defending themselves and their way of life.As if stated before the main difference I see between these two authors portrayal of the Native Americans seems to come straight from their personal interactions with them. Franklin had more of a diplomatic view of them while Rowland had to live through a tragedy. Franklin shows a kind attitude towards them and therefore looks at their culture with a much more open mind where Rowland is fearful and angry with the Indians for the deaths of her friends and family, part that with the close mindedness of the puritan way and it's no wonder she never shows any good will towards them.

Crisis and Trauma Counseling Essay

Crisis and Trauma Counseling Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Wright who is the author of this book begins by discussing his own individual dilemma where he had to make a decision. Wright narrates a life story which serves as a basis through which the human decision making subject is built. Wright uses this approach to relate to his reader whilst examining trauma counseling and also personal crisis. Wright defined the crisis nature where he depicted that there is no individual who can escape the crisis inevitability. In this regard the author stated that individuals should always be prepared on how to deal with crisis which is a critical issue. In this book focus eventually shifts to describe the biblical ways which can be used in helping individuals to pull through from the traumatic experiences. Through his book, Wright shows a strong understanding of emotions and feelings of the people (Wright, 2011). Abstract   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This book depicts the Christian mission in assisting those who are in dire need in a manner that Jesus did. In the book, Wright provides valuable information that would serve as an asset for lay person or Christian counselors. He also discusses about the life of Jesus where he states that Jesus was and even now is a model to be emulated by all the Christian counselors. All the Christian counselors should lead by example and all their efforts should be directed in helping those individuals who are facing crisis and not hurting them. Wright provides some biblical principles including ways of applying scripture during a counseling session and understanding the trauma or crisis process. The biblical perspective of Wright can be of great importance to those individuals who are in helping profession and seek out in doing the work of God. Wright also emphasizes on listening, building rapport, having empathy, trust and giving hope to those experie ncing trauma and crisis. He also provides scriptures together with personal accounts purposed to form basis for inexperienced counselors in the profession in addition to those who want to improve their skills. He also provides a variety of techniques to the readers with an aim of guiding the Christian counselors through their journey in helping victims who are in crisis. The book also providers the readers with improved understanding ways of approaching topics like loss of loved ones or suicide; whether they are children, adolescence or adults (Wright, 2011).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Wright recognizes the fears that ministers while walking into new situations which involves crisis or trauma. He states that learning on ways of handling these situations through practice and education will improve the skills of the minister in assisting the victims. The author also advises readers on using biblical principles to assist the person to develop courage to help him or her to persevere through the hard times. The author in his book a good counselor should have the ability to hold her or his tongue. In this regard Wright shows that a good counselor should practice active listening. In this regard they should listen with their body, eyes and also by affirming understanding as well as empathy. Wright gives a recommendation that counselors should scrutinize themselves prior to advising other individuals on situations. One recommendation of the boob is that ministers should use Jesus like an example to them of how to treat the traum a/ crisis victims. This is because Jesus portrayed his ability to accept those individuals who were hurting. In this regard, Jesus was able to help and love individuals through their grief through this acceptance. The author also advises about the counselors asking the questions from the clients so as to understand more about the situation of the client prior to giving counsel (Wright, 2011). Concrete Responses   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I had a very traumatizing experience when I was only 9 years old. This was when I was kidnapped by unknown criminals as I was coming back home from school. They pretended that they were enquiring something from me and then they got hold me and I was forced to enter into an awaiting car and then sped off at high speed. They were four guys and I was threatened that in case I tried screaming they would shoot me to death and I was very terrified. One of the guys covered my eyes using a piece of cloth and I was taken to an unknown building. I was chained and I was tortured both physically and psychologically. I was beaten using a cane and even shocked with the electric cords where I went through untold suffering. The torturers threatened that they will eventually kill me and I will never see my family and friends again. Those evil torturers also tortured me by pouring boiling water to my legs. Eventually, I was rescued after two weeks of hell a nd I was rushed to a hospital where I was admitted for a month. All this time, many questions kept lingering in my mind regarding to why I had to go through this traumatizing experience at such a tender age. I developed hate and bitterness to every stranger and I had to be taken to counseling sessions to recover from the entire traumatizing event. My family and friends were equally disturbed by that traumatizing experience. I will never forget about that terrible experience in the rest of my life. Reflection   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This book has many positives and Wright who is the author is able to provide a valuable guide on how to deal with trauma and crisis. He is able to relate all this biblical principles through his biblical perspective which instills hope to those who are suffering. Through this biblical perspective the Christian counselors are able to understand the whole process of trauma or crisis thus they are able to apply scripture in their counseling sessions. Through the use of biblical principles those people who are undergoing hard times are able to gain courage to persevere. The author advises the counselors on how to become good counselors so as to be able to help individuals to pull through from traumatic events. The author also shows a great understanding of the feelings and emotions of the individuals. He also advised the counselors to emulate Jesus as a perfect example of how to treat the trauma/crisis victims (Wright, 2011).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are also some negatives about the book for instance; the author states that traumatic events were not common in the past as they are in the contemporary society. This is not necessarily so because in the past people did disclose their traumatic experiences that happened to them. Also in the past the media did not publicize violence heavily as it does today since in the past individuals were more private regarding such matters. Another negative thing concerning the book is the way Wright treated the subject concerning confrontation. Before he mentions confrontation Wright focuses more on counseling skills like empathy connecting these skills to the behaviors that Jesus portrayed. Wright went ahead to relate confrontation to showing empathy for a person in assisting them to make improved choices. Nevertheless, the book fails to point out the thought of biblical rebuke and also the ideal situation when this sort of confrontation should be used. This is because when confrontation is employed too early in a case of a relationship it can spoil the rapport of the minister with the client; however the kind of confrontation required is also a crucial subject which is supposed to be discussed. Therefore, the author provided limited information regarding how to confront the clients and also deciding the ideal timing for such confrontation (Wright, 2011). Action   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This book will act as an important guide in my life so that I can be able to help those who are going through various traumatic experiences in their lives. Life is full of such events and therefore this will help me in preparing me to deal with such situations and gain courage to persevere such experiences. I will start basing all the experiences that I undergo and those that my friends are undergoing though a biblical perspective. I have learnt to be a good counselor by adopting active listening when helping the victims of trauma/crisis. I have learnt on how to treat the victims facing crisis/trauma through listening to them, building rapport, having empathy, trust and instilling hope to them. I have also learnt how to approach topics like loss of loved ones and suicide among others. I have also decided to take an action and emulate Jesus who was an exemplary figure in assisting people. I will also be referring to the book from time to ti me as a way of polishing my skills as a counselor. I have also learnt how and when to ask questions from the victims needing help so that I can be able to understand their situation so that I can be able to give them valuable counsel (Wright, 2011). References Wright, H. N., & Wright, H. N. (2011). The complete guide to crisis & trauma counseling: what to do and say when it matters most! (Updated & expanded. ed.). Ventura, Calif.: Regal/From Gospel Light. Source document

Accounting Theory and Current Issue Samples for Students

The assignment intends to provide an extensive analysis of the article named Half a Deface of Positive Accounting Research†. The emphasis of this has been given with positive accounting in a broader aspect of the research where the main focus has been given in forming a casual description of the human behavior stated in the accounting framework rather than on PAT in accounting perspective. Moreover, the present segments has included by their positivist research program which has been identified with various deficiencies in practical scenario. The present segmentation has been able to bring out the inherent intricacies which are mainly constituted in the speculative models where the dependence is seen to takes place in hypothesis and that attention is given on the computation of numerical data [1]. The research has been further able to involve the intellectual projects after taking into consideration various types of positive accounting research along with advantages and disadvantages. The project has been aligned with ontology as well as epistemology. With emphasis to the present context the conduction of critical review related to positive accounting has been identified with various loopholes and this has restricted making contributions to the overall research project[2]. The study has been further conducted to give a brief overview of the article and critical analysis of each aspect which needs to be covered in the final section. Furthermore, the study will give an augmented focus to the different aspects of identifying research hypothesis, the description of the value and ensure smooth flow of data in the literature review. Hence, the theoretical framework has been seen to give proper insights of the information with different significance and limitations of the articles an d proper justification for the same[3]. With relevance to the particular article associated to Half a Defense of Positive Accounting Research†, the main investigations of the research with respect to accounting research has been put on positive approach. In the accounting research associated with a positive approach has a connection with broader intellectual projects related to scientific research as it aims to analyze the various relationships associated to cause and effects. It has been further seen that the deficiencies in the positive accounting research has been mainly identified in form of selection of various papers which has taken into consideration auditing literature. Based on the analysis it has been understood that the positive research is used in accounting when there exists certain loopholes for the accomplishment of the scientific goal and it has been for the seen to be applicable after selecting the illustrative papers fit for conducting the research. In addition to this, the description given by Kuhn shows those normal sciences are seen to actually suit with the positive research of the accounting activities. It has been thereby noted that the various prospects associated to this revolution and the crisis has been properly mentioned along with the several types of potentials and accomplishment of positive accounting. The summary of the article has been further able to signify the importance for the identification of the loopholes in order to make proper recommendations during the conclusion of the study[4]. The study is in for the described with the researcher on the criterion given by Popper, this has been able to prove the point that the induction is not the sole measurement for the accuracy of any given theory. In other terms the article has been able to provide a brief review of falsification associated to positive accounting theories. There has been identified a total of four classes associated to the description that are used for error measurement, external effects, internal effect and the various types of inefficiencies of the relativity theory. It has been further noted that a specific theory cannot be anecdotal with the various observations and hence it is imperative to select between two or more theories. It needs to be further understood that the decisive observations has actually falsified the inaccuracies in the theories which are inherent in the case and seem to be supporting and opposing theory[5].  Ã‚  Ã‚  Ã‚  Ã‚   This particular article has been further aim to provide an extensive dissection of the various types of limitations and the logic which are related to the statistical hypothesis testing. In this particular case, it has been discussed that it is a very dilutive version of the acquisition logic of Popper. This reason for this has been shown with every single test out of 20 may be wrongly rejected with 5% significance level. In this particular way there have been several technical issues present which are related to hypothesis testing and statistical distribution which is considered under null hypothesis and relies upon the supplementary assumptions. It has been further view that in case the technical issue has been resolved then there is a high chance that the hypothesis testing would fail. Therefore, it can be seen to be inherent only in case single alternative hypothesis has been taken into consideration without adequate focus in careful specification. This specification has been fur ther seen to be consistent with several types of accounting theories when it is seen to provide the association with the strength. Hence, the researchers seem to rely on the need for developing improved measurement procedure in order to test the theoretical models rigorously which prevails in the accounting practices[6]. The various types of hypothesis further research in the examination of the very day of positive accounting research has been listed below are as follows: H0: It has been seen that there has been an existence of the universe which is beyond the imagination of an individual H1: The events taking place in the world have sufficient reasons and form a part of the universe as well H2: the individuals are seen to octane high level of reliable source of the information associated to the global events with the assistance of vigilant observation H3: the various intention of intellectual property for observation has been utilized for gaining global understanding of the universe in case of causation The first hypothesis of the study has been able to test with different types of instances of positive research in accounting. It has been also seen with several operation of rational self-interest and interacting within the other parties who has been seeing to express opinion and the result of analysis of positive theories of accounting[7]. The significance of testing of the second hypothesis has been seen with understanding of scientific epistemology along with ontology which has been able to explain that the research of positive accounting is not ideal for the accounting research. Hence, it doesn’t seem to be essential to advocate the various events which are not seen to be taking place as a result of random or output of the interventions associated to outside universe[8]. The third hypothesis test of the researchers and seen to be discussing the falsifications and the hypothesis testing as a regular determination of validity of their actions. In addition to this, the theory has been able to require the proper examination of the facts you are preliminary idea has been developed. It is seen as a formal theory which can be actually developed with testable anticipations and is consistent with the various types of relevant dependable empirical evidences. Therefore, it has been seen to be necessary for the anticipants for testing of the new theory based on several types of new observations in a particular situation where the new theories make certain anticipations with the old ones[9]. The final hypothesis test has been seen as significant impact on the various models which focuses on the measurement. This is the same with mental models which can be used for the mapping of casual procedures in the universe. It is therefore important for the researcher to formulate the hypothesis which can be properly related to the review section of the literature. It has been identified that there are various theoretical frameworks which can be used to meet the objectives of the research. The operation of the balanced self-interest is seen to be taking place between the parties they are the outcome of the several accounting phenomena has been seen to be implied through the express contract in the various types of business enterprises. In addition to this these have been seen to cover the various accounting choices where the managers reports as well as takes charge of pricing decisions on behalf of the auditors. In this case, the auditors identified as the decision-makers by the use of various regulations based on standard setting and other professional advice to the academic practitioners. It has been further seen to be imperative to consider the fact which has been seen to be useful for determining the information assisting the investors in making investment decisions. This action has been actually seen to be reduced from the behavior of the human beings who are seen as rational in nature and does not include the theory of positive accounting. There has been for the seen a proper instance associated with article which helps in identification of the loopholes after a proper evaluation of the research[10]. On the other hand, that proper investigation of the accounting research is noted with various types of accounting settings which can take place in absence of: behavior. Such method is seen to be used by professional auditors in making judgments’. This particular method has been further seen to be used by the managers, who use this information to utilize discretion during the performance evaluation. There have been several instances which are seen to be helpful for demonstrating the positive research program and it is actually seen to be much wider in comparison with the positive accounting theory. It can be related to any specific field of research which intends to gain proper insight associated to the causes of accounting phenomena as well as nature after following a relevant scientific research of accounting. And it has been seen to be significant to have a better measurement tool so as to enhance the overall quality of the decision-making process in the future years[11]. The epistemological in the field of scientific research majorly ends in the explanation of various approaches which are available for gaining useful insight of the whole world. On the other hand, ontology relates to the activities as well as the relations for answering the questions. In the first place, the agency in theory has been seen to be socially developed through the rules as there is a close association with social art that does not have an object is subsistence which is seen to be devoid of human beings. Here the participants as well as the activities are not seen to pose any rational activities. It can be further understood that the art cannot be observed as a devoid of experience especially with the human beings explanation given by the participants. The intricacies taking place in the ontological and the epistemological measures has been seen with their agenda to gain proper insight of the data associated to accounting phenomena and its futile exercise of flogging of a de ad horse[12]. It has been further seen to be associated with various problems with the positive research as it is seen to explode the experience and the knowledge of the underlying reasons. There have been several research streams which has diverse range of the object is which are seen to actually exist in the given period of time. There are several other issues which are related to the agency and due to this reason is human beings are seen to pose their own veil and the actions are further seem to cause that are not acquiescent to scientific theory[13]. The need for effective research program has been seen with issues prevailing in the accounting. The need for the analytical model is seen to be helpful for testing as well as the formation of various types of theoretical models. In addition to this it has been seen to be helpful for implementing of analytical models in the positive accounting research program. The need for the measurement rather than only testing the Presidio is seen to be important procedure by the researchers. With particular relevance to accounting, the biasness has been noted with strong publication in and against the parameters, which is seen to exclude the same which has been associated with a given theory. This is due to the reason that there is a shortage of resource of accounting and adequate availability of the resource at the same time[14].  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The main significance of the article has been associated to identify the broad which exist with the current practices and the positive accounting. It is further seem to be important for making relevant contributions and said it to broader intellectual program. Due to this reason there has been seen to be in absence of system optimization which modifies the same after rectification of a mistake. This is particularly aimed to provide rational insight of the scientific research where it is validated after participation of accounting groups. The research has helped in identification of improved theoretical models which are more reliable in nature[15]. The main limitation has been identified in form of not contributing to the awareness of human behavior in the present accounting context. The main reason for this has been identified in form of lack of collection of information associated to real life from the potential sources. The limitations have been further associated to primary and secondary data which are seen to hinder the quality of research. This particular research has been seen to be made with influences from the authors who had their opinions based on positive research accounting hands that quantitative aspect has not seen to be properly addressed[16].  Ã‚  Ã‚  Ã‚   The study can be concluded by providing an article which aims to evaluate the various concept of epistemological villas ontology of the positive accounting theory which has been identified with certain loopholes. It has been further recommended by the researcher that some of the theoretical models used in the articles needs to be formulated based on the detailed test of the accounting variables. Hence it is necessary for conduct in the findings of proxies which relates to the present reliable data. It has been further noted that the behavior of human beings are seen to be rational where everything does not seem to take place from the positive theory of accounting. Hence it has been seen to be significant to consider quantitative aspects of the accounting which needs to be prioritized in this case for improving the future performance of the business organization. Apostolou, Barbara, et al. "Accounting education literature review (2013–2014)."  Journal of Accounting Education  33.2 (2015): 69-127. Apostolou, Barbara, et al. "Accounting education literature review (2010–2012)."  Journal of Accounting Education  31.2 (2013): 107-161. Bampton, Roberta, and Christopher J. Cowton. "Taking stock of accounting ethics scholarship: A review of the journal literature."  Journal of Business Ethics  114.3 (2013): 549-563. Blanthorne, Cynthia, and Stu Westin. "VITA: A Comprehensive Review of the Literature and an Analysis of the Program in Accounting Education in the US."  Issues in Accounting Education  31.1 (2015): 51-69. Chen, Theodore TY. "Is reform in accounting education needed in China and Russia: A literature review."  Australasian Accounting Business & Finance Journal  9.3 (2015): 72. Deegan, Craig. "So, who really is a â€Å"noted author† within the accounting literature? A reflection on Benson et al.(2015)."  Accounting, Auditing & Accountability Journal  29.3 (2016): 483-490. Doxey, Marcus M., et al. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Release No. 2015-004, Supplemental Request for Comment: Rules to Require Disclosure of Certain Audit Participants on a New PCAOB Form: Participating Committee Members."  Current Issues in Auditing  10.1 (2015): C1-C10. Fakharzadeh, Tala. "Budgeting and Accounting in OECD Education Systems: A Literature Review."  OECD Education Working Papers  128 (2016): 0_1. Howieson, Bryan, et al. "Who should teach what? Australian perceptions of the roles of universities and practice in the education of professional accountants."  Journal of Accounting Education  32.3 (2014): 259-275. Lafond, C. Andrew, Anna C. McAleer, and Kristin Wentzel. "Enhancing the Link between Technology and Accounting in Introductory Courses: Evidence From Students."  Journal of the Academy of Business Education  17 (2016). Lawson, Raef A., et al. "Focusing accounting curricula on students' long-run careers: Recommendations for an integrated competency-based framework for accounting education."  Issues in Accounting Education  29.2 (2013): 295-317. Schmidt, Ulrike, and Thomas Gà ¼nther. "Public sector accounting research in the higher education sector: a systematic literature review."  Management Review Quarterly  (2016): 1-31. Siepel, Josh, and Paul Nightingale. "The increasing pervasiveness of financial markets across the global economy has been identified in the literature with the spread of ‘Anglo-Saxon capitalism’, reflecting the notion that a common US–UK model of governance and managerial attitudes is becoming increasingly common worldwide. This paper questions the existence of a common US–UK model by exploring how the concept of ‘Anglo-Saxon capitalism’..."  Critical Perspectives on Accounting  25.1 (2014): 27-35. Tucker, Basil P. "Figuratively speaking: analogies in the accounting classroom."  Accounting Education  26.2 (2017): 166-190. Webb, Jill, and Caroline Chaffer. "The expectation performance gap in accounting education: a review of generic skills development in UK accounting degrees."  Accounting Education  25.4 (2016): 349-367. Webb, Jill, and Caroline Chaffer. "The expectation performance gap in accounting education: a review of generic skills development in UK accounting degrees."  Accounting Education  25.4 (2016): 349-367 [1] Apostolou, Barbara, et al. "Accounting education literature review (2010–2012)."  Journal of Accounting Education  31.2 (2013): 107-161. [2] Schmidt, Ulrike, and Thomas Gà ¼nther. "Public sector accounting research in the higher education sector: a systematic literature review."  Management Review Quarterly  (2016): 1-31 [3] Apostolou, Barbara, et al. "Accounting education literature review (2013–2014)."  Journal of Accounting Education  33.2 (2015): 69-127. [4] Lafond, C. Andrew, Anna C. McAleer, and Kristin Wentzel. "Enhancing the Link between Technology and Accounting in Introductory Courses: Evidence From Students."  Journal of the Academy of Business Education  17 (2016) [5] Siepel, Josh, and Paul Nightingale. "The increasing pervasiveness of financial markets across the global economy has been identified in the literature with the spread of ‘Anglo-Saxon capitalism’, reflecting the notion that a common US–UK model of governance and managerial attitudes is becoming increasingly common worldwide. This paper questions the existence of a common US–UK model by exploring how the concept of ‘Anglo-Saxon capitalism’..."  Critical Perspectives on Accounting  25.1 (2014): 27-35. [6] Chen, Theodore TY. "Is reform in accounting education needed in China and Russia: A literature review."  Australasian Accounting Business & Finance Journal  9.3 (2015): 72. [7] Howieson, Bryan, et al. "Who should teach what? Australian perceptions of the roles of universities and practice in the education of professional accountants."  Journal of Accounting Education  32.3 (2014): 259-275. [8] Fakharzadeh, Tala. "Budgeting and Accounting in OECD Education Systems: A Literature Review."  OECD Education Working Papers  128 (2016): 0_1. [9] Deegan, Craig. "So, who really is a â€Å"noted author† within the accounting literature? A reflection on Benson et al.(2015)."  Accounting, Auditing & Accountability Journal  29.3 (2016): 483-490. [10] Blanthorne, Cynthia, and Stu Westin. "VITA: A Comprehensive Review of the Literature and an Analysis of the Program in Accounting Education in the US."  Issues in Accounting Education  31.1 (2015): 51-69. [11] Webb, Jill, and Caroline Chaffer. "The expectation performance gap in accounting education: a review of generic skills development in UK accounting degrees."  Accounting Education  25.4 (2016): 349-367. [12] Doxey, Marcus M., et al. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Release No. 2015-004, Supplemental Request for Comment: Rules to Require Disclosure of Certain Audit Participants on a New PCAOB Form: Participating Committee Members."  Current Issues in Auditing  10.1 (2015): C1-C10. [13] Tucker, Basil P. "Figuratively speaking: analogies in the accounting classroom."  Accounting Education  26.2 (2017): 166-190. [14] Bampton, Roberta, and Christopher J. Cowton. "Taking stock of accounting ethics scholarship: A review of the journal literature."  Journal of Business Ethics  114.3 (2013): 549-563. [15] Lawson, Raef A., et al. "Focusing accounting curricula on students' long-run careers: Recommendations for an integrated competency-based framework for accounting education."  Issues in Accounting Education  29.2 (2013): 295-317. [16] Webb, Jill, and Caroline Chaffer. "The expectation performance gap in accounting education: a review of generic skills development in UK accounting degrees."  Accounting Education  25.4 (2016): 349-367.

Foundation of business thoughts Assignment Example | Topics and Well Written Essays - 500 words

Foundation of business thoughts - Assignment Example The second time he implied to show the selfishness of the rich people as they pursue their interest. Thirdly, time he was trying to show how the rich tries to support the interest of the public so that they can increase security of their wealth (Boardman, Calvin, Alan and Harris, pp.50-65). This is so because the desire to acquire wealth does not have an end because there are limitless want. This may further leads to war as one tries to balance between limitless wants and the available resources. Additionally, unlimited wants may cause one to overstep the necessary boundaries (Boardman, Calvin, Alan and Harris, 70-98). The society will view the current American society as a state that is highly dominated by capitalism while still surrounded by communist world. Rand further indicates that the current constitution seems not to be functional whereby; she kept referring to the legislature (Boardman, Calvin, Alan and Harris, pp.110-159). The statement aims to promote justice and fairness to lower social economic groups in the American society. Justice in courts and all spheres of life should prevail. Whereby, just like in the past catholic the statement implies that one should do good to others in the same way one would like other to good unto you (Boardman, Calvin, Alan and Harris, 160-185). 32. Explain Rand’s statement: When Money Ceases to be the tool by which men deal with one another then, men become the tools of men. Blood whips and guns-or dollar, taken your choice-there is no other-and your time is running out’ The statement tries to explain that, for one to get money one must work for rather than obtaining it with force from other people. This means that one must use his/her efforts to work hard and earn money. In addition, one must create value or deliver service or a product to other to earn money in a most justifiable means (Boardman, Calvin, Alan and Harris,pp.180-204). The three ethical dilemmas include: in

Lesson Plan Literatura Essay Example | Topics and Well Written Essays - 750 words

Lesson Plan Literatura - Essay Example The objective of this lesson is to take the subtraction lesson to the next level as subtraction occurs as well as addition. The student will be able to attach meaning to the concept of ‘more or less’ as objects within the book increase and decrease. Ask the student how many are left when subtraction occurs and how many more there are when addition occurs. Ask what it means when less or more of something happens. Ask the student how counting and more or less are related. The game consists of hoops put down on the floor and the children tossing the construction paper butterflies so that they land in the hoops. Then each group counts the butterflies to see how many are there. When this is repeated, they determine if they have more or less than they had during the previous toss. The game can be extended as they determine how many more or less they have than the previous toss. The game can be played with members of the family, giving the child the opportunity to teach the game, helping them to learn as they express the ideas of more or less. As they play with the family a member of the family, such as the parent, can fill in the worksheet so the teacher can then assess the progress from external observations of the parent. This lesson is the last in a five part series of lessons that address the concept of numbers and mathematic foundations. This game styled lesson should provide context or the meaning of addition and subtraction using concrete ideas that are more conducive to creating