Thursday, January 23, 2020
Charlies Attempt to Overcome the Past in Fitzgeralds Babylon Revisited :: Babylon Revisited Essays
Charlie's Attempt to Overcome the Past in Fitzgerald's Babylon Revisited Babylon Revisited is made up of different characters with different ideologies in life. The Protagonist, Charlie is a reformed alcoholic who had come back to take his daughter. Marion is Charlie's sister- in - law who dislikes him because she thinks he caused her sister's death. I think Marion is emotionally disturbed. She overacts to things that happen in everyday life. Lincoln is Marion's husband .He tries to keep things as even as possible for Marion. Loraine and Duncan are ghosts from Charlie's past and they came to haunt him at the end of the story. We are always being haunted by our past sins and Misdemeanors. Even when we have been reformed, it takes a similar incident or someone appearing from the past to remind us of what we were before. I think Charlie is a strong Character. He was able to reform himself and stop drinking. This shows that he is strong. His coming back for his daughter proves that he is aware of his Civic responsibilities and he is ready to undertake them. There is a Strong bond between him and his daughter which is definitely a plus on his side. Charlie's journey to Paris to pick up his daughter reminds me of when I visited America. I stayed for one year before I went back for my Children. I had to get to know them again. I can relate to Charlie when he told Honoria "I want to get to Know you" (9).When you stay away from you children for sometime , you feel that they have grown so much and there is so much you don't know about them. Charlie had reasons to mistrust Marion .As Fitzgerald put it " Charlie became increasingly alarmed at leaving Honoria in this atmosphere of hostility against himself; sooner or later, it will come out in a word here, a shake of head there, and some of the distrust will be irrevocably implanted on Honoria"(13). It is not easy to leave your child with some one who you Know definitely does not like you. The father and Daughter bond is a strong bond and if it is destroyed at this early age it can become very difficult to restore it. Marion was very strongly biased against Charlie. Marion was ready to give Honoria back to the father until the appearance of Duncan and Lorraine.
Wednesday, January 15, 2020
Principles of Personal Development Essay
Standards that influence the way adult social care job roles are carried out. Codes of Practice set out the criteria against which providers are assessed by. They also describe the standards of conduct and practice with which workers must carry out their activities and ensure that what they do is competent and consistent with the values of their employer. These standards are how registrantsââ¬â¢ ââ¬Ëï ¬ tness to practiceââ¬â¢ is determined. For a care worker to work in a certain profession, they have to register with their particular Professional Council and then work to the Codes of Practice which they deem ï ¬ t. Not following their Code of Practice could result in them being taken of the register and no longer allowed to work in that role. Reflecting on work activities is an important way to develop own knowledge and skills. Reflection on your own practice is important because it allows you to assess what you are doing well, identify areas where you might like or maybe need more training or guidance in to ensure you are performing to the best you can, and are meeting all standards and expectations within the elderly house policies and procedures. Reflecting on your practice can enhance and improve your confidence and self esteem because you can look at what you are doing well, the things you have learnt and achieved and feel good about yourself especially if you have done something with ease that you used to find difficult, if you have done something you never did well in or something that you have never tried before. This then gives you confidence to continue working well and to aim to try other new things or to use what new skills or knowledge you have gained in your practices. During the activity you improve you learning by asking you supervisor/senior. You learn from others people strategies. Find ways to reflect your self in your activity. Reflection, which is learning through experience, is not a new concept. As humans, we naturally reflect on our surroundings and experiences. It is a learning tool that will help us improve our skill and develop our knowledge and practice. Also it is important to find your strengths and weaknesses so that you can develop and improve on them, so you can make your weakness your strengths. Reflecting on your self is a complex activity that requires the individual to develop a set of skills. When you reflect you stand back and think of a situation or problem, gain a new perspective of something, make sense of our experiences and construct meaning and knowledge that directs actions in practice. Use evidence to help decide on decisions. Ways to ensure that personal attitudes or beliefs do not obstruct the quality of work. The best way to ensure that personal attitudes or beliefs donââ¬â¢t obstruct the quality of work is to be dedicated to excellence. Personal attitudes can be changed through education. That is an important way. It helps to develop a good work ethic. How learning activities can develop knowledge, skills and understanding. How a learning activity has improved own knowledge, skills and understanding. The more you think and plan, the better you can do. Think things all the way through to a successful conclusion. Improving improved own knowledge, skills and understanding by reflecting on a situation I donââ¬â¢t have a situation that I really want to share, but I spend a great deal of time reflecting on life from various perspectives from the logical/intellectual to the mystical/muse. The two quotes below are on a list that I keep in my desk. They remind me why I must make time, even if it appears Iââ¬â¢m doing something else, to reflect. * ââ¬Å"Think left and think right and think low and think high. Oh, the thinks you can think up if only you try!â⬠ââ¬â¢ Dr. Seuss * ââ¬Å"The important thing is not to stop questioning. Curiosity has its own reason for existing.â⬠ââ¬â¢ Albert Einstein Feedback from others has developed own knowledge, skills and understanding The example is comments, critics, suggestions. If someone know what to do to this feedback, that person already know what to do next. That was a development by feedback How a personal development plan can contribute to own learning and development Definition of personal development plan Personal development planning (PDP) is the process of creating an action plan based on awareness, values, reflection, goal-setting and planning for personal development within the context of a career, education, relationship or for self-improvement. Who can be involved in the PDP process Typically, each employeeââ¬â¢s line manager should be responsible for the individual employeeââ¬â¢s PDP. * Managers may need appropriate training to ensure they can manage PDPs effectively. Developing these skills can be built into the managerââ¬â¢s own PDP. * The most senior employees ââ¬â and those whose performance has the most impact on the performance of the business ââ¬â may benefit from an external mentor Sources of support for own learning and development There are many sources of support that you can access and many different ways that you can help yourself, when developing your practice. The appraisal or supervision system in your workplace can be a good starting point. This will help you to identify areas of your practice that need to be developed, and to plan to use opportunities for training and development. Some employers provide appraisal at six-monthly or 12-monthly intervals, but supervision should be at least once a month. This gives you a good opportunity to use the experience and knowledge of your supervisor to help you plan how to move forward in your practice. Benefits of using PDP to identify ongoing improvements in own knowledge and understanding Some advantages of taking a personal development approach to your work are: Gaining a clearer focus to your learning. Helping to keep yourself motivated. A better understanding of how you learn and how to improve your performance. More enjoyment and less stress from your learning as you become consciously skilled. More awareness of how to apply your learning to new problems and contexts.
Tuesday, January 7, 2020
pai discovery Essay - 895 Words
In the movie, Whale Rider, there are great examples of Joseph Campbellââ¬â¢s article, Four Functions of Myth, which are: mystical myth, cosmological myth, social myth, and psychological myth. In the film, Whale Rider, Pai discovers her sense of self as she reinvents the Maori tribeââ¬â¢s creation myth to save the dying culture. The mystical myth in Whale Rider would be when she rode the whale. Pai is suppose to be the new chief in town, however, her grandfather, Koro, does not think a girl should be chief because he believes it will break tradition. Paiââ¬â¢s grandfather would always talk to the whales to get some help and advice from them, which are said to be their ancestors. The community was breaking apart and Koro was aware of it; thatââ¬â¢sâ⬠¦show more contentâ⬠¦When I was born, my twin brother died and took our mother with himâ⬠(Whale). This shows that the grandfather had no joy when Pai was born because all he wanted was the boy so he could choose hi m to be the next chief, according to the tradition. Afterward, when Pai eventually became the first female leader of the tribe, the entire community changed. In the Maori tribe, the men had their place and the women had their place. Everybody in the community had their role to follow. The sociological myth of this movie was that everybody had a way of living; they had sets of rules to follow. This is what made the community and tribe be the way it was. The one person who actually tried to follow all of the laws and roles was Koro. He was the chief of the community and he had to show that he was by taking command and by influencing the younger people. Koro was the only one who continued to follow the tradition, that is, until he broke it by trying to find a male to be the next chief in town. He wasnââ¬â¢t supposed to go out and try to find one, he was supposed to choose the next child that his son would have. The psychological part of this film is when she wanted to show her grand father that she can be the next chief in town, even if she is a female. She was trying to show her grandfather that gender does not matter in order to be a chief. Pai really valued the community. When she was about to leave with her father she heard the whalesShow MoreRelatedEssay On Venous Insufficiency1279 Words à |à 6 Pagesstretch (5 to 10 dynes/cm2 rather than 20 to 30). This hinders mechano-transduction, the endothelium activity, opens ionic channels, diminishes its nitric oxide (NO) generation, builds that of endothelin 1 (ET1) and of plasminogen activator inhibitor (PAI-1). The endothelium in these locales produces cytokines and development factors, and communicates adhesion molecules. Ranges of hindered leukocyte dissemination are made, particularly in subvalvular districts, inciting subendothelial leukocyte travelRead MoreVictims Of Dissociative Identity Disorder1927 Words à |à 8 Pagesrate of improvement in a client. (Pais, 2009, p.74) Individual therapy. The first step of the process involves allowing the clientââ¬â¢s subpersonalities to become comfortable with the therapist. Trust is key in getting information from the subpersonalities. If one of them feels threatened or unsafe, they may not want to cooperate with the therapist, causing possible tension and lack of progress. Once these important relations are made, it should result in the discovery of the clientââ¬â¢s alters as well asRead MoreTherapy Promotes Venous Thromboembolism Through The Induction Of Pai 13287 Words à |à 14 PagesAntiangiogeneic therapy promotes venous thromboembolism through the induction of PAI-1 in a mouse xenograft model of human lung carcinoma Ni Chen1*, Meiping Ren1*, Rong Li1, Xin Deng1, Yongjie Li1, Kai Yan1, Lamei Xiao1 , Yan Yang1, Liqun Wang 1, Mao Luo 1, William P. Fay 2, Jianbo Wu1,2 1Drug Discovery Research Center, Luzhou, Sichuan, People s Republic of China; 2Department of Internal Medicine, University of Missouri School of Medicine, Columbia, MO, USA Corresponding author: JianboRead MoreExploring one of the Greatest Theorists of his Time: Charles Darwin1286 Words à |à 6 Pageslast too long due to his weak stomach at the site of blood. Darwin met a freed slave named John Edmonstone, he taught Darwin how to stuff and mount birds. Shortly thereafter he joined the Plinian Society. It was then in 1827 that he presented a discovery to the Plinian Society that the black spores found in oyster shells were the eggs of a skate leech. Darwins father heard through letters from Darwins sisters that he was no longer interested in medicine. Darwins father refused to have a dilettanteRead MoreJ. Robert Oppenhimer s Leadership Essay2162 Words à |à 9 Pageshis love of the desert later influenced his decision to headquarter the Manhattan Project in Los Alamos. At Harvard, Oppenheimer excelled as a chemistry major, graduating summa cum laude in 3 years, and his interests began to trend toward physics (Pais 8-9). In September 1925, Oppenheimer was accepted to Christ College, Cambridge University, where he studied under the famous physicist J.J. Thompson. Upon completion of his Ph.D. in only 2 years, Oppenheimer was invited to Gottingen to work with MaxRead MoreAssignment : The Web Assignment1125 Words à |à 5 Pagesdesigned to fit the needs of the Socializer as well as the Achiever, but tends to leave out the Killer and the Explorer. Assignment Three: The Competitive Derivation One of the problems we have in mathematics specifically is the lack of serious discovery and expression. Students learn what old philosophers, mathematicians, and scientists discovered on their own thousands of years ago. However, it is quite possible to figure many concepts out on your own. That said, it takes quite a bit of ingenuityRead More Mileva MariÃâ¡ Einstein and her contribution to Albert Einsteins work1293 Words à |à 6 Pagesnever again as successful as when he was with Mileva. Albert Einstein was born in 1879 in Germany and died in 1955 in USA. Albert Einstein won the 1921 Nobel Prize for physics for his services to theoretical Physics, and especially for his discovery of the law of photoelectric effect. The most important year of his life was 1905, when he published four revolutionary articles in Annalen der Physik, the leading physics journal in Europe at that time. Within seven months he published papersRead MoreThe Australian Health And Beauty Platform1283 Words à |à 6 Pagesinclude: â⬠¢ 100% Pure Cosmetics â⬠¢ Kenteco â⬠¢ 10 and Co â⬠¢ Kintra Foods â⬠¢ KOJA â⬠¢ Lavera â⬠¢ Luk Beautifood â⬠¢ Manuka Biotic â⬠¢ Blisume â⬠¢ Pai Skincare Get Inspired If you are looking for ideas and inspiration, then the Nourished Life blog is definitely worth checking out. The blog has categories regarding Beauty, Food, House, Kids and Books. Each category has product reviews, new discoveries and trends, as well as information on how to live a more healthy life and ensure you take good care of your mind, body andRead MoreMount Vesuvius Is A Volcano1480 Words à |à 6 Pagesand stolen for money and because of the lack of technology. 1748 was the year that Pompeii was officially excavated. With the support of Don Carlos, who was the king of Naples at the time, a military engineer known as Karl weber, carried out the discovery and exaction of Pompeii from 1750 to 1764. Though it couldnââ¬â¢t really have been called an excavation, as early digging was often very dangerous and irresponsible, which led to many artifacts to be broken and/or stolen. This was usually done by treasureRead MoreGolden Goblet Book Summary1956 Words à |à 8 Pagesinforms him that he starts the next day cutting stone. 6.) Ranofer offers to live in the desert and cut papyrus for the sail makers if Gebu will buy him a donkey. Gebu only laughs. Chapter 6: 1.) The next day Ranofer very reluctantly reports to Pai, the foreman, at the stone cutting shop and is given the dull job of putting cutting sand into holes so Zahotep may drill sockets in an alabaster slab. 1.) While working, he learns the slab will be a coffin lid. Next, he is set to smoothing sandstone
Monday, December 30, 2019
Definition of Embodiment in Patents
Embodiment by definition is a manner in which an invention can be made, used, practiced or expressed. Embodiment in Patent Applications The phrase embodiment will be in your patent application, as part of the legalese used. In a patent application, the specification will include descriptions of the preferred embodiments. If you read a patent you will often see a section headlined DESCRIPTION OF THE PREFERRED EMBODIMENT. You will often refer to some aspect of your invention as an embodiment in descriptions. Looking at examples of how the word is used should make what it means and how to use the word clearer. Examples The following examples are more fully described in the first link box below. DESCRIPTION OF THE PREFERRED EMBODIMENTFIG. 1 is a partial sectional view of a Halloween mask with a flash device in accordance with a preferred embodiment of the present invention.FIG. 1 is a front pictorial perspective view of a wireless telephone constructed in accordance with an embodiment the present invention;
Saturday, December 21, 2019
Oedipus the King Pursues the Advice of Apollo - 552 Words
King Oedipus, mindful that a dreadful spell has fallen in Thebes, directs his brother-in-law, Creon, to pursue the advice of Apollo, the sun god. Creon tells Oedipus that the spell will vanish if the murderer of Laius, the previous king, is found and prosecuted. Laius was murdered several years ago at a crossroads. Oedipus devotes himself to finding and prosecution of Laiusââ¬â¢s murderer. Oedipus questions a variety of reluctant citizens, including a blind prophet named Teiresias. The blind prophet tells Oedipus that Oedipus was the murderer of Laius himself. This information really troubles Oedipus, but his wife Jocasta tells him to disregard what the prophet has said, ââ¬Å"theyââ¬â¢ve been wrong before.â⬠As an example, she shares a story with Oedipus about how she and King Laius bore a son who was predicted to murder Laius and sleep with her. Jocasta and Laius had the child executed; therefore that prophecy didnt come true. Jocastas story doesnt ease Oedipusââ¬â¢ worries. When Oedipus was a child, an old man told him that he was adopted, and that he would ultimately murder his birth father and sleep with his birth mother. Not to mention, Oedipus previously assassinated a man at a crossroads, which very similar to the way Laius died. Jocasta commands Oedipus not to look into the past any more, but he stubbornly snubs her command. Oedipus goes on to interrogate a messenger and a shepherd, both of whom have knowledge about how Oedipus was deserted as a baby and adopted by a newShow MoreRelatedThe Psychological Connection to Oedipus the King1387 Words à |à 6 Pagesquestions that children ask, such as ââ¬ËWho made the world? How will it end? Who was the first man? Where do souls go after death?ââ¬â¢Ã¢â¬ ¦The second function of myth is to justify an existing social system and account for traditional rites and customs.â⬠Oedipus the King written by Sophocles in 430 B.C. focuses around the second function that Graves noted. The play has been around for centuries, has evoked psychological theories, and will remain a classic. Sophocles has managed to touch on social, ethical, psychologyRead MoreAnalysis Of Oedipus Rex 2527 Words à |à 11 PagesAri Victor Honors English 28 July, 2015 Summer Reading Oedipus Rex 1. The people of Thebes are suffering from a god attacking their city. 2. The Priest asks Oedipus to save Thebes and the people living there. 3. The Thebans plead Oedipus for his help because 1) they think that Oedipus has help from the gods, and 2) they know that he already saved their town before, so he can save it again. 4. Oedipus has already taken the step of sending Creon to Apolloââ¬â¢s temple to ask how to save the city. 5. TheRead MoreOedipus and Antigone2785 Words à |à 12 Pagesmany aspects that reflected the moral values and ideals of society. Their customs were tightly woven into the scripts of plays. Antigone and Oedipus the King, two renowned works of the Greek playwright Sophocles, explore these values through a plot thick with corruption, virtue, and determination. These plays reveal the burdens two Theban kings, Oedipus and Creon, as their lies and poor judgment corrode the integrity of their city, their families and themselves. Possessing a strong faith in theirRead MoreGreek Mythology8088 Words à |à 33 PagesGreekà Mythologyà Ià INTRODUCTIONà Templeà ofà Apolloà atà Didymaà Theà Greeksà builtà theà Templeà ofà Apolloà atà Didyma,à Turkeyà (aboutà 300à bc).à Theà templeà supposedlyà housedà anà oracleà whoà foretoldà theà futureà toà thoseà seekingà knowledge.à Theà predictionsà ofà theà oracles,à deliveredà inà theà formà ofà riddles,à oftenà broughtà unexpectedà resultsà toà theà seeker.à Withà Ionicà columnsà reachingà 19.5à mà (64à ft)à high,à theseà ruinsà suggestà theà formerà grandeurà ofà theà ancientà temple.à Bernardà Cox/Bridgemanà Artà Library,à London/Newà York
Friday, December 13, 2019
Skimming is Winning Free Essays
Skim reading could be what leads to the next epidemic for written works. This can be explained as the phenomenon in which readers pick out only what appear to be the most important and valuable pieces of information from a text. In ââ¬Å"Skim reading is the new normal. We will write a custom essay sample on Skimming is Winning or any similar topic only for you Order Now The effect on society is profound.â⬠Maryanne Wolf delineates the negative effects of skim reading on our intellectual processes such as; critical analysis, deep reading, and research surfacing as individuals move into digital based modes of reading. Wolf introduces the term ââ¬Å"cognitive impatienceâ⬠to explain how we are unable to take the time to concentrate because skimming has taken over most of our reading. This affects our ability to comprehend important information.â⬠The argument states that humans are losing the ability to use their intellectual comprehension skills when it comes to reading. Skim reading is affecting the process to obtain information without analyzing the facts. This leaves the reader with ââ¬Å"false information and demagoguery.â⬠False information is obtained through skim reading as the ââ¬Å"actâ⬠itself causes one to attain general information and words which can lead to misinterpretation. In addition, it adds a prejudice point of view as the reader fails to dive into facts which stand to be the main focus of the information being presented, and this can be explained as demagoguery. As a solution, she comes up with the idea of a ââ¬Å"bi-literateâ⬠brain that will be capable to form the deepest of thoughts on either traditional or digital forms. It will benefit everyone as it will create a sustainable society by giving us the ability to seek more knowledge than we already have. Essentially, Wolfââ¬â¢s essay is a warning of the dangers that skim reading has. It is leading individuals to misinterpret knowledge causing them to have false information. In her opening paragraphs, Wolf states (ââ¬Å"The neuronal circuit that underlies the brainââ¬â¢s ability to read is subtly, rapidly changing ââ¬â a change with implications for everyone from the pre-reading toddler to the expert adult.â⬠) The term ââ¬Å"Cognitive impatienceâ⬠is introduced and explained how individuals around the world are slowly becoming impatient when it comes to reading denser, more difficult texts. It is stated that what underlies ââ¬Å"cognitive impatienceâ⬠should be critically analyzed far more than the problem itself. Specific real-life examples are presented in relation to cognitive impatience, such as wills, contracts, and voting. For instance, contracts are essential when getting a job, purchasing a house, etc. If individuals fail to read the information correctly regarding the agreements or rules, it can cause them to miss out on specific information one may need to know to avoid unnecessary conflict. The author stresses the importance of deep reading by presenting real-life factors that rely on our growth as a society. The use of these examples in the article is a way of appealing to the readerââ¬â¢s emotions, having them become more aware of the impacts skim reading can have even in situations we would not think of, such as the ones that were stated previously as well as digital skim reading. Technology has affected the ways in which we obtain information. As it becomes more advanced we are beginning to rely on technology to gain access to the information that we may require. However, various studies have proved that digital screen use may be causing troubling effects on reading comprehension in high school and college students. Ziming Liu from San Jose University conducted a study where he indicated that Skim reading is becoming the new ââ¬Å"norm.â⬠Many students began to glance at specific words and sentences for the rest of the text. When the brain skims likes this, it does not allow us to ââ¬Å"to grasp complexity, understand others feelings, perceive beauty and for readers to have thoughts of their own.â⬠By this, the author is trying to inform us that reading is comprised of more than just understanding the moral of a story. It is about being able to connect with the author and the emotions being presented, look at situations from a different perspective, as well as create thoughts of our own as we read in depth. Since technology has become a widely used tool in classrooms, this is seen as an opportunity to explain how it is affecting the information that we acquire. Negative effects of reading in digital modes can appear as early as the fourth or fifth grade. The author grasps the attention of the readers by informing them how early the effects of screen reading can affect the mental health of students. By this, she raises awareness to those who provide technology to their children or students constantly. For instance, parents giving their children technology to keep them occupied from a young age can cause them to rely on technology, hindering the development of basic reading skills leading to the underdevelopment of the childââ¬â¢s brain. Scientific terms, such as circuit, neuroscience, and brain were present to stress and further explain the issue of skim reading. The author uses various studies conducted by psychologists as evidence to further support her argument. Anne Mangen, a psychologist from Stavanger, Norway came to a conclusion indicating (ââ¬Å"That studentââ¬â¢s who read on print were superior in their comprehension to screen-reading peers.â⬠) The reading circuit is a part in our brain that both psychology and science are parallel to. When our brain cannot comprehend information, or critically analyze along with various basic reading skills, it affects our brain which in turn affects psychological behaviours. The author references other neuroscientists which show the timeline the issue began, to stress the point that this is an issue across all age groups. Reading is a lot more than just being able to comprehend the text, It is being able to critically analyze and empathize, which is a crucial factor. It involves being able to understand the perspective of the author and the emotion they are trying to portray. Wolf also introduces a type of ââ¬Å"bi-literate brainâ⬠, a brain capable of forming the deepest thoughts in traditional or digital mediums. The author does not only stress the importance of deep reading, perspective taking, analyzing, comparing etc. just for a simple book or text, but also indirectly tells us to have the same view towards our society and the way we live. The Bi-literate brain will help view life and certain situations in other perspectives, look at things and be appreciative of the beauty around us and also be able to create beauty with our imagination and ideas. Being able to go beyond our current knowledge and dig deeper to reach the knowledge, is necessary to sustain a good society. Wolf Indirectly states that using those same reading skills can also be used in real life to create a better future not only for literature but also our society. As the future moves society into a more digitized world, members are becoming unable to comprehend information accurately. ââ¬Å"Cognitive impatienceâ⬠the inability to take time and read, is leading readers to be unable to properly comprehend the information accurately because skimming has become a norm. This causes a prejudiced outlook due to readers being misinformed. It is no doubt that Wolfââ¬â¢s article is a warning towards individuals in every age group to stress the point, how we are slowly diminishing in utilizing our basic reading skills such as critical thinking, analyzing, and deep reading. As Wolf presents real-life factors that are essential to our growth, we as members of society also have a duty to go beyond the knowledge that we already acquire and sustain a good society. How to cite Skimming is Winning, Papers
Thursday, December 5, 2019
Financial Accounting Accounting in a Competitive Economy
Question: Describe about the Financial Accounting of Accounting in a Competitive Economy. Answer: Introduction Accounting standards are the rules, regulations and policies that help an organization to run effectively and smoothly. The Australian Accounting Standards Board (AASB) is the agency of the government of the country that issues the AASB standards and includes the Australian equivalent to the IFRS (International Financing Reporting Standards). In the year 2007, the AASB modified the Standards of accounting such that the requirements are identical to the IFRS that were issued by the IASB for the entities (Shim, Siegel, Shim, 2012). However, it has been found that the AASB/ IASB are against the present concept of materiality. Therefore, in this report, the general concept of materiality has been discussed along with its application in the firm Wesfarmers and also the problems of materiality in the context of the present AASB / IASB standards and framework using the annual report of the particular company has also been discussed in details. Concept of Materiality The concept of materiality is also known as the materiality constraint. It is defined as the information related to finance that is considered as the material of the financial statements that would alter the view or the opinion of rational personnel. It can also be said that all the vital financial information might affect the users opinion regarding the financial statements. This conception of materiality is of greater importance and is relative in size. As per Williams (2012), it has been found that some of the financial information of a company might be useful to some of the people like stakeholders or some of the financial information might be considered as material to some of the companies. On the other hand, it might happen that the same financial information might not be considered as the material rather it might be considered as the immaterial to the other companies and persons. The concept of materiality addresses that the financial information might make a differentiation b etween the users of the financial statements (Needles Powers, 2012). Therefore, as per the need and concept of materiality the company adds the financial information for disclosing the financial condition of the firm to its stakeholders and if the financial information is considered as immaterial to the accountant of the firm then the information will not be added to the annual report of the particular firm. Therefore, it can be said that concept of materiality varies from one organization to another. For example, within the firm Wesfarmers, the materiality is based on the accounting standard AASB 1031. As per this particular accounting standard AASB 1031, this is considered as an interim standard that generally cross-references to the Framework and Standards that consists of the guidance regarding the materiality. On the other hand, the accounting standard AASB 2013-9 reflects the Amendments to the Accounting Standards of Australia Materiality, Conceptual Framework and Financial Instruments. As per this standard, several amendments are considered as a result of issuance of AASB CF 2013-1 and will make amendments to the specified standards of accounting in order to delete the references to the AASB 1031 (Wesfarmers.com.au, 2016). The particular company Wesfarmers for measuring fair value and disclosures implement the following methods the fair value is calculated based on the quoted prices in active market and the fair value is determined by using the inputs for liability and assets, which are depended on the market data that are observable. Issues of materiality in regard to the existing AASB / IASB standards There have been pertinent issues relating to the concept of materiality as per the IASB/AASB framework. Investors are required to be informed of the financial condition of the business enterprise before making essential financial decisions (Bevis, 2013). The concept of materiality emphasizes on certain financial items that can only be considered relevant for executing investment and financial decisions. In the case of Wesfarmers Limited, there are relevant financial items that should be directly related to the financial condition of the entity. These are the amount of assets and liabilities in the organization and the amount of profits made by the business enterprise in the previous financial year (Narayanaswamy, 2014). However the value of intangible assets is subjected to certain constraints. As such, the determination of intangible assets is subjected to the perception of the investors. In addition, the determination of prepaid expenses in the organization and its treatment is ano ther issue in the concept of Materiality. BHP Billiton assesses the prepaid d expenses of the organization as a current asset. However, this depends on the opinion of the investors. The IASB/AASB recognizes this essential issue in the concept of materiality, thereby, having an adverse influence on the preparation of financial statements of a business enterprise (Warren et al. 2013). As per the financial statements prepared by BHP Billiton, the recognition of Bad debt recovered is another important essential issue recognized by IASB /AASB. In instances, the Bad Debt recovered can lead to issues relating to recording and assessing of accounting information as per the financial statements of a business enterprise. As such, bad debt recovered has been a pertinent issue in the concept of materiality as per the IASB/AASB. Besides this the IASB /AASB has imposed strict guidelines relating to the allocation of variable expenses to the cost of production .As per the financial statements prep ared by Wesfarmers Limited , the brand has numerous variable expenses that adds to the cost of production . Hence, such variable expenses have to be reconsidered when presenting the financial report to the investors of the company. The concept of materiality determines the variable expenses of an organization as per their relevancy and usefulness to the production process (Porter Norton, 2012). As such, the standards set by the concept of materiality cannot be judged against the measures implemented by the IASB/AASB. As such, recognition of variable expenses is an important issue as per the IASB/ AASB framework .m Conclusion The AASB 1031 standard is an interim standard which adheres to the international standard of accounting and financial reporting. The materiality disclosures followed by Wesfarmers Limited follows this standard, thereby, presenting the financial information to the investors. However, as per IASB/AASB the information presented to the external parties constitutes certain issues when information is disclosed as per the materiality concept. These include- determination of the value of intangible assets, depreciation as well as bad debt recovered. Thus, the IASB and the AASB framework have rightly identified materiality issues when preparing the annual financial statements of a business enterprise. References Bevis, H. W. (2013). Corporate Financial Accounting in a Competitive Economy (RLE Accounting). Routledge. Home - Wesfarmers. (2016).Wesfarmers.com.au. Retrieved 26 May 2016, from https://www.wesfarmers.com.au Narayanaswamy, R. (2014). Financial Accounting: A Managerial Perspective. PHI Learning Pvt. Ltd.. Needles, B. Powers, M. (2012).Financial accounting. Mason, OH: South-Western Cengage Learning. Porter, G., Norton, C. (2012). Financial accounting: the impact on decision makers. Cengage Learning. Shim, J., Siegel, J., Shim, J. (2012).Financial accounting. New York: McGraw-Hill. Warren, C., Reeve, J., Duchac, J. (2013). Corporate financial accounting. Cengage Learning. Williams, J. (2012).Financial accounting. New York: McGraw-Hill/Irwin.
Subscribe to:
Posts (Atom)