Mental health Essay Example for Free

Mental health Essay Psychotherapy is more internal, and deep. It is more focused on the past, whereas counseling is more focused on the present. In psychotherapy, insight is more important than change, and the therapist’s role is as more of an expert. Psychotherapy is also long-term, where counseling is usually more short term. Counseling focuses on the Wellness Model –understanding the person in their context (job/family/community) 3. Discuss what is meant by counseling being an Art? Even though counseling techniques can be subjective and creative like an art, is still uses technique and strategies, and has standards that must be met. 4. ACA, CACREP, NBCC, APGA. ACA – American Counseling Association CACREP – Council for Accreditation of Counseling and Related Educational Programs NBCC – National Board for Certified Counselors APGA – American Personnel and Guidance Association 5. 4 personal qualities counselors should have Curiosity Ability to listen and be empathetic Ability to have a conversation Empathy and Understanding Emotional Insightfulness Capacity for Self Denial Tolerance for Intimacy Comfortable with Power Goodwill – Do No Harm Self Awareness Maintaining Effectiveness Remaining Objective Accepting and Confronting Situations Ability to Laugh Intellectual Competence Energy. Flexibility Support 6. Briefly discuss burnout and 2 ways to avoid it or lessen the likelihood it will occur Burnout is the physical, mental and emotional exhaustions brought on by involvement over prolonged periods with emotionally demanding situations and people. Understand that you are there to support the client and lead them to empowerment, not to â€Å"fix† them. Some ways to avoid burnout are to seek counseling yourself, seeking supervision and guidance, taking a break or a vacation, joining a peer support group, getting regular exercise, meditation, taking time to enjoy hobbies, and seeking support from family and friends. Traumatic events in the counselor’s personal life may contribute to the stress felt when dealing with client issues at the same time. 7. Know terms Ethics is a discipline within philosophy that is concerned with human conduct and moral decision making and are the ideal standards expected by a profession. It governs relationships within a profession Morals are determined within a broad context of culture of society. They are our own and are often influenced by family, community and religion Laws dictate minimum standards of behavior that a society will tolerate Autonomy respects the freedom of choice Nonmaleficence Do not harm. Beneficence Be helpful and do not blame Justice Fairness to all clients Veracity Being honest and upfront Fidelity Loyalty and faithful to what my profession dictates Vicarious Liability- individuals who have control and authority over others will be held accountable for their negligence. (Supervisor is responsible for the actions he/she supervises) Common Law laws that developed as a result of court decisions (set by judicial precident) Regulations accepted guidelines set forth by a profession Federal Laws trumps rules and is established as the minimum requirements set by the government Rules established within the system. Tort Law law resulting from the private sector (laws that result from the suffering or harm from the private sector) 8. Be able to distinguish between Principle Ethics and Virtue Ethics Principal ethics have their foundation in moral principles, which are agreed upon assumptions or beliefs about ideals that are shared by members of the helping profession. ( â€Å"What should I do† [respect for autonomy, nonmaleficence, beneficence, justice, fidelity, veracity] ) Virtue ethics involve more than moral actions; they also involve traits of character or virtue. Virtue ethics focus on the actor rather than the action (â€Å"Who should I be† [integrity, discernment, acceptance of emotion, self-awareness, interdependence with the community]) 9. Know the reasons for ethical codes Ethical codes give our profession credibility, protects us from government interference, helps to reduce malpractice, protects the clients welfare, ensures accountability within the profession 10. Be able to discuss the 4 beliefs of counseling professionals or identify in a short vignette 1. The best perspective for assisting individuals is the wellness model of mental health. The goal is for each person to achieve positive mental health to the degree possible. Mental health is seen as occurring on a continuum. It accounts for functioning in family relationships, friendships, career, spirituality, leisure activities, physical health, living environment, financial status and sexuality. 2. Most of the issues that people face in life are developmental in nature and understanding the dynamics of human growth and development is essential to success as a helper. Since most problems are developmental, they are natural and normal. We all will experience certain things are different times of our lives. 3. Prevention and early intervention are far superior to remediation in dealing with personal and emotional problems. To do this, counselors provide education. Through education, the clients will have the necessary tools to meet the challenges later in life when encountered. 4. The goal of counseling is to empower individual clients and client systems to resolve their own problems independently of mental health professionals and to teach them to identify and resolve their own problems autonomously in the future. By teaching appropriate problem solving techniques, and increasing their self-understanding, it is hoped that the client will not always need assistance. 11. Be able to identify factors that influence culture 12. Race Ethnicity Nationality Gender Age Social Class Marital Status Sexual Orientation Disability Place of Residence Language Religion Other nonvisible 13. Be able to identify the important things to consider in crisis counseling Distinguish physiological responses from gestures. – Be aware of how things like eye contact can be cultural. Avoid using stereotypical conclusions regarding non verbal behavior Avoid imposing your values on an individual in a crisis situation ( what seems to you to be slef-defeating may actually be cultural in context) 14. Be able to identify and briefly discuss the three areas of Multicultural Competencies Self Awareness – Become aware of your own personal values, biases, assumptions Knowledge – Increase awareness of cultural values, biases, assumptions of diverse clients Skills – Develop culturally appropriate intervention strategies for diverse clients. 15. Be able to identify and briefly discuss the assumptions regarding values AND ways to minimize imposing values on clients Be careful not to project your own values or interests onto the client. Lead them to the outcome that they are comfortable with. Be sure to take into consideration cultural influences, religious influences, etc. There is no such thing as an absolute value that exists objectively. Each person is responsible for their own values system. Acknowledge tendency to see clients as pathological when dealing with personal values. Accept clients as they are instead of sick of immoral because values systems do not conform. Inform yourself about eh varieties of values held in society. Be aware of your own values. Present value options in an unbiased manner. Be committed to freedom of choice of your clients. Respect clients who have values different than your own. Consult others when conflict exists. Refer clients to another counselor if conflicts cannot be resolved. 16. Know Confidentiality an ethical concept that refers to the counselor’s obligation to respect the client’s privacy and to our promise to clients that the information they reveal during counseling will be protected from disclosure without their consent. (Autonomy, respect, pledge of silence, utility) Privileged Communication a judge cannot order information that has been recognized by law as privileged to be revealed in court. Communications must originate in confidence. The element of confidentiality must be essential to the relationship. The relationship is one that needs to be carefully fostered. The injury to the relationship that disclosure of communications would cause must be greater than the benefit gained for the correct disposal of the litigation. Privacy The freedom of individuals to choose when they reveal their information. The right to keep the counseling relationship a secret. Afforded to all individuals in the 4th amendment. 17. Know the limits/exceptions to confidentiality and privileged communication 18. Client waives privilege Does not end in death Sharing with subordinates/superiors Protecting someone in danger Counseling multiple clients (group) Counseling Minors Court Ordered Legal Protections for Counselors in dispute 19. Be able to identify potential legal issues 20. Know SOAP Subjective (â€Å"use quotes†, write whatever the client reports) Objective (info from the counselor, assessments, reports) Assessments (impression of S and O. Does everything measure up? ) Plans (diagnosis and treatment plan with goals and objectives) DAPData (Objective information) Assessment ( counselor’s interpretation of the data) Plan (what you intend to do and what you what to accomplish) 21. Be able to discuss reasons for writing case notes and goals of writing case notes It helps to see your client as a total person. Helps to remember client details. Notes are not meant to be a transcript. It is an integrated view of the interaction. For review by many others who are in on the care of the patient. 22. Be able to identify things that might be considered â€Å"records† related to clients/students in the counseling profession Phone calls, emails, appointments, bills, parking passes, payment records, physical recordings, audio recordings, case notes 23. Know the questions to consider when writing/thinking about clinical notes Be concise. Be transparent. Don’t put something in a record that you would not want to be made public. â€Å"Just the facts. † 24. Be able to identify who might read clinical notes Supervisors, transcribers, other clinicians, lawyers, attendings 25. Be able to discuss problems/issues related to using various forms of technology related to information about clients/students. Security is hard to secure electronically. Files can be intercepted. Phone calls can be intercepted. FB allows for multiple people to see and access information. Confidentiality cannot be guaranteed. 26. How might you ensure confidentiality related to various forms of technology Encryption. Fax cover sheets. Getting written instructions as to how and when and where to present and what data can be presented.

Indian Accounting Standards: Barriers and History

Indian Accounting Standards: Barriers and History Introduction In the year 2005, European Union made it mandatory for all the companies which were listed have to comply with International Financial Reporting Standards (IFRS) requirements when presenting their financial statements. This marked the beginning when International Accounting standard Board (ISAB) was professed as â€Å"legitimate’’. Ever since then IFRS has spread swiftly across the world. Initially there were few hindrances like by the end of year 2004 â€Å"full text of endorsed IFRS was not even available in several EU languages’’. This research examines the evolution and obstacles to convergence of Indian Accounting Standards to IFRS starting 1st April 2011 when all the listed companies in India, will be required to present their financial statements in accordance with IFRS regulations. This research also highlights the need for the country like India, to converge their Local GAAP to IFRS. American Writer Mark Twain once commented on  India and said  Ã¢â‚¬Å"the cradle of the human race ,the birthplace of human speech ,the mother of history ,the grandmother of legend, and the great grandmother of human speech of the tradition.’’ India is now seen as one of the fastest growing economies in the world. The increase of number of Indian companies being listed at various stock exchanges may it be NASDAQ, NYSE or LSE, the takeovers of companies like Corus by TATA or the exponential increment of Foreign Direct Investment in the country does indicate that India is now the destination where everyone wants to be a part of it. The strong economic growth, technological advancements, inflows of foreign exchange and the ever-increasing interest of almost every nation to be a part of this growth embraces the requirement of a common language in financial statements. (Purvis, gernon, and Diamond [1991]). Various studies done by researchers have concluded that â€Å"principle based standards are better enforced than rule based† and this becomes one of the reasons why harmonisation is becoming more and more essential. As far as advantages and disadvantages in adhering a common accounting rule there are still concerns within a country leave apart the issue of international convergence (Ray Ball, 2006). Only time will tell whether this convergence really serve the purpose or it was just a decision made in haste to be a part of so called IFRS â€Å"brand names’’ countries. IFAC Compliance Programme IFAC was founded in 1977 with New York as its Headquarters. Its initial purpose was â€Å"the development and enhancement of a coordinated worldwide accounting profession with harmonised standards†(brennan,1979). Presently it is â€Å"a global organisation for the accountancy profession† and as at 10th August 2009 IFAC has 158 members from 122 countries representing 2.5 million accountants. â€Å"Its formal mission is stated as being â€Å"To serve the public interest,IFAC will continue to strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards ,furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. To carry out this mission ,we work closely with our member bodies and regional accountancy organisations and obtain the input of regulators, standard-setters, governments and others who share our commitment to creating a sound global financial architecture†(IFAC,2006). IFAC does not set International Financial Reporting Standards (IFRSs) are not set by IFAC rather these are set by International Accounting Standards Board (IASB) . The IFAC Board formed â€Å"the Member Body Compliance Program† to ensure that all the members adhere to the standards set by IFAC for its membership. The primary objective of which was to encourage members and strive for improvement in this area of compliance. The IFAC Compliance program is overseen by the Compliance Advisory Panel. The primary objective of Compliance Advisory panel is to make sure that the IFAC compliance program is properly implemented as well as properly operated by the staff members of IFAC. Statements of Membership Obligations The IFAC Board through its Statement of Membership Obligations (SMOs) issue guidelines for the members to assist in implementation of â€Å"International standards† which are issued by IFAC and International Accounting Standard Board (IASB). The motto of SMOs is to provide pre-requisites for â€Å"quality assurance† and to investigate any disciplinary actions against any members. All the IFAC members also have to participate in a program which is in three parts. The main purpose of this programme is that it â€Å"seeks to understand whether and how the SMO requirements are being fulfilled†.  The information from this program helps the compliance committee to evaluate whether the members have prudently adhered to all the SMO requirements. These responses by the Members are taken on a periodical basis. Any changes in â€Å"legal and regulatory environment† or any other development made by any member is to be informed to this committee. This information is also updated in a questionnaire which is available online, by all  the members and if there are any changes  than the members are supposed to inform  the compliance committee which publishes these updated responses on IFAC website. Part 1 of this questionnaire is â€Å"Assessment of the Regulatory and Standard-Setting Framework†.  This Questionnaire provides information  from its members about their â€Å"regulatory and standard-setting framework in their jurisdiction†. Part 2 is â€Å"SMO Self Assessment† which requires members to fill  up a â€Å"self assessment questionnaire† which indicates how the members have incorporated or  implemented  international standards which are issued by IFAC and the IASB. This questionnaire also helps the committee to know whether all the members have adhered to professional standards set by the governing bodies. Part 3, of the questionnaire is about â€Å"Action Plans†. This questionnaire requires that members to â€Å"to develop action plans, including identifying tools, resources, and regulatory changes to address areas identified through the Part 2 self-assessment†. Part 1, Part 2 and Part 3 questionnaires are accessible to public at large. Literature Review â€Å"Harmonization, standardization, and uniformity are all terms used in the literature and in previous research† (Iordanis N.Floropulos, 2006). According to Van der  Tas (1988): â€Å"Materially measurable harmonization is an increase in the degree of comparability and means that more companies in the same circumstances are applying the same accounting method to an event or giving additional information in such a way that the financial reports of more companies can be made comparable.’’ Harmonisation can be understood as a procedure by which the gap between different accounting practices are reduced (Doupnik,1987). Sir David Tweedie, Chairman of International Accounting Standards Board said â€Å" If they all use the same methods and the accounting for one transaction is the same in Sydney, as in Seattle, as in Strasburg, and in Sheffield , then they will know where they are, and there is a demand for that type of certainty.†(FEI 2001). Mark T.Bradshaw and Gregory S.Miller(2007) also reiterated the same and argued that the evidences are in favour of a single set of Accounting Standards which will â€Å"increase the comparability of accounting information across the countries that differ economically, politically ,and culturally†. Emphasising the need for a â€Å"common set of accounting standards† IASB, laid three broad objectives: a)  Improvement : Improvement in existing standards, b)  Convergence : Reducing the gap between different accounting standards followed in different geographical regions, c)  Leadership : Addressing issues not resolved and developing new standards( Geoffrey Whittington,2005) â€Å"The principles behind the adoption of International Accounting Standards by different countries have always been the subject of controversy in accounting literature† (D.Zeghal, K.Mhedhbi, 2006).India’s decision to converge to IFRS is perceived by many researchers as premature decision. Although harmonisation of accounting standards not only enhances the quality of financial reporting, increases the comparability of financial statements but without considering of â€Å"country specific environment factors† the logic/reasons for such convergence will be forfeited. Talaga and Ndubizu (1986) insisted â€Å"that a country’s accounting principles must be adapted to its local environmental conditions†. In fact, Perera(1989a) went much ahead and stated that â€Å"the accounting information produced according to developed countries is not relevant to the decision models of less developed countries†. Case studies by different researchers with respect to developing countries have not reached any consensus whether the convergence or so called â€Å"follow the Bandwagon approach† for IFRS’s will have or is having any positive effect on economic growth. It is yet to be seen that whether India will adopt IFRS or will converge its accounting standards to IFRS. Larson (1993) studied the economic growth effect of African countries with and without these standards. His results show a positive correlation in economic growth rate with adoption of IFRS’s when adapted with â€Å"country’s local condition†. But Woolley (1998) researched the effect of such convergence or adoption of IFRS’s in Asian countries and he concluded that there are â€Å"no significant differences in the economic growth rates†. This again emphasises the fact that researchers have distinct opinion on whether IFRS adoption results in better economic growth or does not have any significant role. Researchers like Wolk, Francis ,and Tearney (1989) argued that ,harmonisation of accounting standards is â€Å"beneficial for developing countries because it provides them with better-prepared standards as well the best quality accounting framework and principles†. Chamisa (2000) studied the â€Å"usefulness of IAS’’ for developing countries. In his case study of Zimbabwe, he argued that these standards do have a positive impact on the emerging financial markets in the developing countries. â€Å"Economic conditions are a major determinant in the development of a country’s accounting system† D Zeghal, K Mhedhbi (2006). No doubt with the present economic growth in India  which is presuming better than in any other developing nation, IFRS will definitely boost this growth. India, by adopting IFRS gives a platform for itself where the financials can be compared easily with the peers across the globe.  According to Alhashim and Arpan (1992), who argued that â€Å"environmental forces influencing accounting are economic forces, social forces, the legal system, culture, and the political system†.   Though the legal structure or political system or culture might have an impact of financial reporting but there are other factors which have greater impact than these. One of these can be the education standards of the professionals in a country. As IFRS are more principle based so lots of prudence will be required from the professionals .  Cooke and Wallace (1990) added to these and argued that factors such as Size of business, education level, history of country, level of wealth, their development of financial markets may have influence on accounting standards. Accounting standards are governed by economics and politics( Watts,1977 ; Watts and Zimmerman,1986) so convergence has more or less enhanced integration of markets and politics across the borders (Ball,1995). D Zeghal, K Mhedhbi (2006) gave five hypotheses on the basis of these environmental forces. In his first Hypothesis he argues that if the country economic growth increases then the chances of adoption of the International Accounting Standards increases. This hypothesis correlates with the present status of a country like India which is exponentially growing. To maintain this growth rate it needs to be in line with global standards which will increase it â€Å"legitimacy†. As a result of which the foreign investments will increase. In the second hypothesis he argues that the probability of adoption of IFRS increases with the increase in education level. This simply means that there is a positive relationship between educational level and the competence of the professional accountants. This hypothesis indicates that â€Å"in countries where the educational level is low and expertise is weak, there is a real barrier to the adoption of IAS†.  This infers that if a country wants to adopt IFRS then it needs to strengthen its educational level. This raises few concerns if test this hypothesis with the current situation in India where there is scarcity of experts who have good knowledge of IFRS. In his third Hypothesis which states that if a developing country has â€Å"high degree of external economic openness it will be more inclined to adopt IAS†. India being one of the fastest growing nations with increasing foreign investments is an ideal case for adoption of IFRS’s as per this hypothesis. Sir David Tweedier, IASB Chairman restating uniformity of accounting standards argued â€Å"As the world’s capital markets integrate, the logic of a single set of accounting standard is evident. A single set of international standards will enhance comparability of financial information and should make the allocation of capital across the borders more efficient. The development and acceptance of international standards should also reduce compliance costs for corporations and improve consistency in audit quality.† Abdelsalam and Weetman (2003) argued that a factor like â€Å"familiarity and language† seems to favour countries which are Anglo-American because of obvious reasons. One being Anglo-American predominantly had a greater influence in the formulation and development of IASB and the other being, English being language of communication. Chamisa (2000) found that he anticipates that the developing countries which have â€Å"Anglo-American culture† will find it easier to adopt IFRS. This becomes the Fourth Hypothesis. In his Fifth and final hypothesis D Zeghal and and K Mhedbi states that developing countries which have capital markets are most likely to adopt/converge to IFRS. This hypothesis emphasises the need and why India as a country should adopt IFRS. With the present scenario where all capital markets are hitting new lows, Indian markets are performing far better than any other markets across the globe. But one should always In a recent report by world bank, it has been reported that Asian countries are recovering from the present financial crises.  Research done by Adhikari and Tondkar (1992) showed the similar results, that adoption of a â€Å"particular accounting system† is effected by the existence of capital market. Adhikari Tondkar (1992) specifically argued that â€Å"country’s level of economic growth has a positive effect on the development of accounting system and practices†. L.L.Rodrigues, R.Craig(2007) in their research by using â€Å"Hegelian dialectic concept of thesis, antithesis and synthesis† gave  innovative approaches for convergence of  local accounting standards with IFRS’s. They went on to and argued that â€Å"in modern society, the global harmonization of accounting standards might be regarded as uncontroversial, unremarkable, and inevitable†. Hegel in his â€Å"theory of dialectic† laid a concept which states that â€Å"contradiction is regarded as the root of all change† (hegal, 1969). He argued that change is inevitable and brings in a new structure or a concept( a thesis) which always have contradictions, which is always opposite to what stated (antithesis) but which brings in something new which is in-between both the concepts(synthesis). Referring to this concept L.L.Rodrigues, R.Craig argued that A thesis to be a â€Å"support for globalization of accounting† and Antithesis can be said to be â€Å"conflict area† that means opposing globalization of accounting. As a consequence of thesis and antithesis another view is generated this is referred as synthesis. They outlined few proposals which arose due to thesis and antithesis.  In one of the proposals they argued that all the companies should follow their national accounting standards and prepare their financial statements accordingly. At the same time these companies should also enclose few annexure in the form of reconciliation with the International accounting standards (hoarau, 1995). In their second proposal they argued that countries should â€Å"seek regional harmonization of accounting standards† (European Union or ASEAN countries). Analysing the â€Å"regional paradigm† of harmonisation of accounting standards, Saudagaran and Diga (1997, p.2,16-7) claims that in 1997 European Union supported the idea of regional harmonisation and also in the year 1992-1993 AFA â€Å"pursued regional  harmonization as a policy objective†. Referring to The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) which is an â€Å"an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing,  governance, ethics and  shari’a standards for Islamic financial institutions and the industry†. These standards â€Å"are either mandatory or used as guidelines by the regulators in.the kingdom of Bahrain, Dubai International financial centre ,Jordan, Lebanon, Qatar, Sudan and Syria (http://www.aaoifi.com/overview.html). These arguments are in favour of â€Å"dual standards†. Also many countries have adopted IFRS but not for all companies rather they have two tier system. One for big corporate houses and the other for small and medium-sized entities (SMEs). Because it is the cost factor which is bothering these smaller entities. But this view is not supported by the big international accounting firms, who caution that â€Å"a two standard system, where some companies continue to use national GAAP ,may be difficult to maintain in the long run.[and] governments and national setters [should] develop formal convergence plans to eliminate these dual standards†(Larson and Street ,2004,p.113). L.L. Rodrigues and R.Craig also argued that companies might think full adoption of IFRS but practically it will more like to have â€Å"ostensible compliance† that is â€Å"in the form of window dressing to appease capital markets or other users of financial information†. Chand (2005) throws a caution on Developing countries who are tempted to be a part of so called IFRS compliance members without evaluation the â€Å"cost and benefit involved in implementing IFRS†. He also emphasises the need to â€Å"improve the level of professional expertise in IFRS† before adoption or convergence to IFRS. Similar caution was advised by Shyam Sunder (2009) in his commentary â€Å"IFRS and the Accounting Consensus† stating â€Å"Get aboard if you do not wish to be left behind on the platform† cannot be a reason to converge or adopt IFRS. He argues that the standards should be developed not just as rules but rather it should be restricted to principles. Secondly a single set of accounting standards should be applied to companies especially those which are traded as it helps investors/stakeholders to compare them with their peers across the globe. Further he argues that there should be a body which must be consisting of professionals and experts which can act as a regulatory just as Securities Exchange Commission (SEC) does in United States. He emphasis the need of educating professional to a level that they can interpret IFRS’s in a prudent manner. Financial Accounting Standard No. 157 (FASB 2006) which states that the companies can value their assets in any one of the three methods given in this standard. These methods are mark-to-market or mark-to-model or mark-to-judgement. The last method gives liberty to companies to value â€Å"as they deem fit†. Warren Buffet called this as â€Å"mark-to-myth†. Clarifications on such concept of â€Å"fair† valuation are needed as it gives an opportunity for accountants to mislead the users of the financial statements. He argues that the standard setters should minimize this â€Å"need for judgement† by properly responding to the queries/objections/sug gestions raised by the professionals on these standards. Shyam Sunder (2009) also stated a practical reason as far implementation of IFRS’s goes. He states any professional anywhere across the globe â€Å"who has been drilled to memorize the specifies† of their own national accounting standards will find it quite difficult to now thoroughly understand and cope up with the clauses of IFRS’s. Also there is only one language in these internationally acceptable accounting languages and that is English only. So those nations like China, Japan or say Italian or German would not find exact version of these standards. And we are talking about a common language of Financial Reporting. One of the past presidents of The Institute of Chartered Accountants (ICAI) states â€Å"people who invest overseas naturally want to be able to keep track of the financial health of the securities issuers. Convergence of accounting standards is the only means to achieve this. Only talking the same language one can understand each other across borders†. N.C.Shil (2009) argues that though harmonisation will give an effect in the form of â€Å"global community as a single entity†. But there are major concerns when it comes to adoption of IFRS’s in United States where US GAAP is still functional. And it is yet to be seen as how far they will converge or they will just adopt. Secondly, different countries have â€Å"different legal, economic, social and cultural environments† and it is very essential to analyse these differences as they just cannot be written off just to make sure that we are in line with internationally acceptable reporting standards. Thirdly, they emphasised the need of implementation not just adoption. It is quite a tedious task to implement without adequate  regulatory authority. IFRS’s are principle based standards so again load of prudence will be required by the professionals who were implementing rules based accounting standards till date. Another issue which is inevitable is the scarcity of skilled manpower in developing countries. China has reported a â€Å"shortfall of 300,000 qualified accountants and is likely to require a further three million† in times to come (N.C.Shil, 2009). More or less the same is the condition if we talk about India. At present with the current state of affairs â€Å"The ROC Mumbai has over 150,000 registered companies out of which approximately 50 percent file their documents. Over 5,000 new companies are registered every year.ROC Mumbai has 4 staff who are employed to scrutinize these fillings, none of them of whom are Chartered Accountant or Company Secretaries’’.  Analyse the situation of now if India without a proper infrastructure (skilled manpower) adopt or converge to IFRS.   The concern at this hour is whether the adoption is â€Å"merely as a label† or there is a serious commitment to it. If the IFRS’s are adopted with such an  intension then this will lead to increase in  transparency , substantially  decrease â€Å"information asymmetry, uncertainty and estimation risk†, and as a will result in  Ã¢â‚¬Å"lower cost of capital and higher market liquidity†(Leuz and Verrecchia, 2000; Lambert et al., 2007a). This hypothesis was analysed by H.Daske,L.Hail,C.Leuz and R.Verdi (2007) who examined IFRS adoption by 24 countries between 1988 to 2004  and concluded that these the firms show a substantial decrease in cost of capital and exhibit â€Å"higher market liquidity† after converting themselves from their Local GAAP to IFRS.  The problem faced even by European countries was the lack of clarity at the time of first-time adoption of IFRS. This issue still persists and there are still no clarifications on â€Å"tra nsactions of specific nature such as pension and other post-retirement benefits† (R.K.Larson, D.L.Street 2004). â€Å"The focus tends to be on what the rules say, not on how they are implemented in practice’’  (Ray Ball, 2006). In practice this has been a major concern even in Europe where implementation is still a major concern. Developing countries like India need to understand that mere restructuring or reorganisation of the standard setting body would not resolve this crisis. But including Government agencies on their board will overcome this tedious task of implementation (Peter Carlson,1997). â€Å"The harmonisation of such standards is regarded to be neither practical nor truly valuable† (Goeltz, 1991, p.85) possibly because â€Å"investors may have developed adequate coping mechanism so that their financial decisions are not impeded†(Choi and Levich,1991,p.2) Because different users require different information it is difficult to satisfy their financial reporting needs with the constraints of a set of inter national accounting standards. A survey of 112 companies in India ,by Ernst Yong showed 67% of them welcomed the decision of convergence to IFRS. But majority of them were susceptible with the deadline set by the Institute of Chartered Accountants of India and the reasons stated were quite obvious. One being the cost, whether it up gradation of IT software or cost of skilled manpower. The other reason was the jugglery in the statutory laws. The Tax laws, Companies Act 1956  and all other statutory laws are yet to be modified and in a manner that they are in line with the IFRS regulations. Taking a clue from the nations who have already transited to IFRS India as a country needs to analyse the cost benefit ratio before implementing these IFRS regulations. â€Å"UK companies recorded an average of  £ 625,000 for IFRS conversion training in 2005†. Also Securities Exchange commission has reported that â€Å"average US corporation will spend nearly $ 32 million in IFRS adoption cost†. Also there is a mixed feeling of whether India will follow full IFRS regulations or will opt for â€Å"modified country specific version† like in European Union ,Singapore, Japan or Australia. Ray Ball(2006) on â€Å"International Financial reporting Standards: Pros and Cons† argued that without any doubts the â€Å"high quality† standards have now been  adopted by more than 100 countries is in itself commendable. On the other side he predicts the problems with the â€Å"fascination† of IASB and FASB with â€Å"fair value accounting†. When market prices are available, for any assets, then the opportunity of manipulation by managers decreases. However there is a flaw that the managers can still manipulate by using â€Å"mark-to-model† accounting. This particular clause in IFRS increases gives an opening to managers to fabricate the valuations as per their discretion. However , IASB and FASB are determined to go move ahead with â€Å"fair value accounting† and FASB member L.Todd Johnson commented â€Å"The Board has required greater use of fair value measurements in financial statements because it perceives that information as more relevant to investors and creditors than historical cost information. Such a measures better facilitate assessing their past performance and future prospects. In that regard, the Board does not accept the view that reliability should outweigh relevance for financial statement measures† Ball, Robin and Wu(2003) investigated â€Å"the relationship between accounting standards and the structure of other institutions on the attributes of financial reporting system†. The study was based on four Asian countries namely Hong Kong, Singapore, Malaysia and Thailand. They argued that these countries have a greater influence towards International Accounting Standards which as a result should produce high quality financial reporting. But the â€Å"institutional structures that provide incentives to issue low quality reports† (Robert W. Holthausen, 2003). Hence Ball, Robin and Wu predicted that outcome of such structure will have a negative impact of financial reporting. Researchers are also of the view that the manner in which the European Union is formed, in the same manner Asian Countries can come together and come to a common consensus which allows â€Å"free mobility of capital, Labour and enterprises across the national borders of its member countries†.( Peter Carlson, 1997). Inida History and Overview India is a Sovereign, Secular, Democratic Republic country. It has a Government or rather â€Å"Parliamentary system of Government†. The President is the constitutional head .In the states it is the Governor who acts as a representative of the president. There are 28 states and 7 Union territories. Each and every part of the country has a different and unique â€Å"demography, history and culture, dress, festivals, languages etc†. India is â€Å"seventh-largest country by its geographical area, second most populous country and the most populous democracy in the world†. In India, responsibility of maintaining high standards in accounting, auditing and ethical standards are bestowed on the Institute of Chartered Accountants of India (ICAI). The Institute was established in 1949 under an act of Parliament. The headquarters of this accounting body is in New Delhi. The Institute also has five regional offices situated in Mumbai, Chennai, Kanpur, Kolkata, and New Delhi, along with these regional offices the Institute has 117 branches across the country. The Institute has also 19 chapters outside India and an office in Dubai. Presently the Institute has enrolled 350,000 students and 140,000 members. The Institute of Chartered Accountants of India is presently the Second largest accounting Body in the world. The Institute has maintained high standards of applicability of Accounting and Ethical standards in India. Except the recent saga of Satyam Computers no major incidence of this stature had ever been reported from India. Applicability of IFRS in India Under the new system the following companies or entities will have to comply with the IFRS requirements: a)  Companies which are listed in any of the recognised stock exchanges. b)  Banks, Insurance companies and Financial Institutions c)  Companies which in the preceding year had a turnover or more than Rs 1 billion. d)  Companies which in the preceding year had borrowings in excess of Rs 250 million. e)  Holding or subsidiary of any of the above companies At present IFRS is not applicable to SME’s. Differences between the prsent regime under local GAAP and IFRS There are issues which really putting doubts in the mind of professionals or the users of financial statement which needs immediate attention. Following are few of them: 1)  As per the companies act 1956, there are specified rates for depreciation to be charged to assets by every company. The clause states that every company must charge a minimum rate of depreciation to each and every asset held. IFRS does not recognise this concept of â€Å"minimum depreciation†. 2)  In India, every amalgamation must be approved by the High Court. There is no such obligation in IFRS regulation. 3)  Clause 41 of the listing agreement clearly states that there should be a separate presentation of  extraordinary items in the financial reporting of the listed companies whereas IFRS prohibits such presentation of extra-ordinary items. 4)  IFRS conversion will have a direct impact on the reporting of Indian Banks. The transition to IFRS will affect reported net-worth, capital adequacy and available capital for all Indian Banks.  Report on â€Å"IFRS convergence: Challenges and Implementation Approaches for Banks in India† argues that there will be a â€Å"significant impact† on the Banking industry in India particularly in the reporting of Financial Instruments, Derivatives and provisions to be made in case of loss on loans and advances. The† Financial parameters† such as Capital Adequacy Ratio (CAR) and â€Å"valuation metrics† on the basis of which the analysis is done, predictions on future aspects of the company are made will change drastically once IFRS is implemented.

Birth Orders Effect on Personality Essay examples -- Birth Order Huma

Birth Order's Effect on Personality Birth-order could be one way to gain an understanding of friends, family members and co-workers. Research has shown that the birth-order indeed has an effect on personality. Birth-order of course does not explain everything about human behavior, personality is also affected by many different factors such as heritage, the environment of the upbringing, family size, education etc. There are four basic classifications of birth-order: the oldest, the only, the middle and the youngest born. Each has its own set of advantages and disadvantages. The birth-order factor is not always exact, but it does give many clues about why people are the way they are (Leman, 1985). First-born children tend to be highly motivated to achieve. In school, first-borns tend to work harder for grades than later-borns do. They often grow to be more competitive and have higher educational and career goals. Of the first twenty-three astronauts sent into outer space, twenty-one were first-borns or only children. Some characteristics of first-borns are: goal setting, high achievers, perfectionist, responsible, organized, rule keepers, determined, detail orientated. Only children are considered as a specialized type of first-borns. They are generally characterized much the same as first-borns who have siblings. Some famous first-borns include Mikhail Gorbachev (Russian leader), Jimmy Carter (president), Albert Einstein (scientist), Sally Ride (astronaut), and ...

The Open Boat :: essays research papers

The Open Boat is a particularly interesting story because of the great detail that author extends and because of the solitary reflections of the characters in consideration of their demise. The story possesses amazingly vivid description. This attention to detail affords the reader the greatest degree of reading pleasure. Crane paints such glorious images in reader's mind with his eloquence. "The morning appeared finally, in its splendor, with a sky of pure blue, and the sunlight flamed on the tips of waves"(387). Artistic sentences of such caliber are not often found. The reader is left with a terrific vision of the perilous sea maintaining its beauty amongst the violence of the wind. "Their back- bones had become thoroughly used to balancing in the boat and they now rode this wild colt of a dinghy like circus men"(378). Here, again, Crane uses splendid detail to capture the essence of the chaotic situation. Another attribute to the story is the insight which the third person narrator offers to the reader regarding the sailors' state of mind. Particularly interesting, is the reference to the poem "Bingen on the Rhine". Until the correspondent must contemplate his own death on the cold and desolate seas, he does not realize the tragedy of a soldier of the legion dying in Algiers. Also, not only did he not realize the significance, he says that, "it was less to him than the breaking of a pencil's point"(385). Again, towards the end of the story, the narrator describes the bitterness the correspondent feels towards nature when he realizes that after all his efforts he may not live to appreciate his being. Observations such as these are not encountered frequently until confronted with death and the conveyance of these thoughts is insightful and meaningful to the reader. The only depreciative factor in the story is the length.

White Man’s Prejudice against Native Americans in the Film, Dances With Wolves :: Movie Film Essays

White Man’s Prejudice against Native Americans in the Film, Dances With Wolves The Movie "Dances With Wolves" shows the stereotypical view of American Indians as uncivilized savages who murder innocent settlers, but most Indians are kind, caring people who were driven from their homes and land as discovered by John Dunbar, the film's main character. John Dunbar was stationed at a small abandoned fort located in the Great Plains where he was to monitor the activity of wildlife and Indians. He first encountered the Indians attempting to steal his horse while he was bathing, and then later again that evening. But gradually over time he had meetings with the Indians where they tried to learn ways to communicate with each other. After countless gatherings and a successful buffalo hunt John is accepted into the Indian tribe. He learns that the Indians are more caring and dedicated to their family than the whites he called friends. Eventually he lives with Indians after marrying "Stands with a Fist," a white woman taken in by the tribe when she was very young. At first John had thought these people to be different then he was but not savage murderers. He thought that Indians were thieves who sacked the fort before his arrival, so he kept his guard up for any strange sounds. One night while he was sleeping he heard some children trying to steal his horse. He promptly sat up and smashed his head on the wooden frame of his cabin, which knocked him out cold. This confirmed his belief that they were merely thieves. Then a party was sent to scare him off but he simply held his ground and the Indians left. These first introductions lead John to believe that they were not thieves or murderers but people who had a different purpose. The Indians were only trying to scare him off to protect their homelands from the invasion of the white people. If the whites had not been so judgmental of the Indians, a people which they knew so little about, then friendships might have been formed and a common ground established. The Indians openly accepted John as a friend after he embraced the ideas and traditions of the Indian tribe. An example of this is after John reports that the buffalo are near and he joins in the hunting party they welcome him into their village to the victory festivities where many times he tells his story of the great hunt.

Network Flows Case Study

As seen in the picture below: Would this work for this application? This would work. The A/C technician is required to know some type of algebra and know how to use it. Knowing this will allow him/her to graph an air flow chart. This would use an isomorphic simple graph so the same number of edges to correspond with the number vertices. This would show that the proper air flow is given from one point to the other point as quickly as possible, this allows for the air to maintain the temperature that you are looking for.Being able to maintain the same temperature would mean less time your unit will run and this saves you money on your bills. This would be a real world application; because the A/C technician has to use math on a daily basis. Example 2: In this example we will try to Stop any traffic on the water way to and from town. This can be done by placing barriers in the water way. But seeing that the river get wider as it gets further away from town, the barriers need to be place d just right to block the water way traffic. As seen in the diagram below:When placing the barriers, the first thing you want to do is figure out which points to place the barriers. This will allow the use of fewer barriers in this application. Would first start with points G, J, H, and L. This point have a shortest distance between them and would be easier to block. Then if you wanted to add more protection to the town you could place more barriers at points D, E, and F. Now in a real life application this could be used in something as the military blocking or slowing down the traffic going on and if the base.Example 3: Employers and Employees Employers Department 1 Department 2 3 4 Max # area Wanted Yes No NO # Area Needed In this example the table shows where an employer was asked to hire more employees in order to cover 100 departments with 30 different areas. Each new employee would work in areas 1, 2, and 3. The area assigned to the employee would be determined by the employer him/herself. The table above givens an example of how it will go. Then the overall question would be how the assigned areas would be split up.When it comes to converting the table above into a graph to the answer, I am at a little bit off loss. The employee numbers 1, 2, and 3 would then be converted into vertices ODL , DO, and DO and the different areas into AY , AZ and AY which is shown in the diagram below: In the diagram you have to replace the G's with Do's and the CSS with the Ass. Believe the assigned areas would be given to the employees by the employer. An employer would be assign to an employee by random. The employee would follow the employer's number through the graph.This would tart in area 1 and continue on through 3. If you have 100 employers and 30 employees they would be assigned in areas as 34, 33, and 33 this would allow all areas to be covered and the jobs completed in a timely manner. In this paper I have provided examples of networking flow charts to the best of my knowledge. This type of flow chart shows the way things can flow and the way you can block the flow of information or even water or air. You can apply this to many of different area's in life. If you can imagine it, I am sure it will work for you.

Gender Equality Essay

Irrespective of the country and the cultures people live in, it is next to impossible to keep the question of gender equality hidden in the modern society. When the word gender equality was voiced in the 19th century what was been sought was political rights. Not only then but also today inequality between men and women has been evident in our society. Discrimination against women is an act that has had a lot of negative impact in our society and to the women themselves. This has been demonstrated through gender violence, economic discrimination, reproductive health inequalities and harmful traditional practices. It is a concern to the whole world to a point of making the affirmative action to fix this problem. Gender equality first and foremost is a human right; women are entitled to live in dignity and in freedom from fear and want (Tomasevski, 1993). Should men and women be equal in the modern society? Men and women are equal; only that women are victims of pervert social progress. Gender discrimination between men and women leads to unequal access to the resources and benefits of development. see more:gender discrimination short essay Gender inequality affects all people; sustainable gains in development and poverty reduction are only possible when men and women are full and equal participants in society. Men and women are different but they are equal in that whatever men can do their women counter parts can do it well. Men and women are equal what brings the discrimination is the socialization that men and women get. The notion that women are weak has denied many women with the ability to exploit the abilities they have (Tierney, 2007). Men and women are equal in so many aspects and should be equal. Politically, financially and academically no much difference that can be noted, it is insignificant. In the political realms there are women who are doing extemporal well. Taking the example of the just concluded US election Hillary Clinton had good support and motions that would be bought by the rest of the candidates. In the world of business we have Oprah Winfrey; an indicator of what women can do. She is competing among the men in that field and still her success is a threat to many. In the modern society women have been known to take responsibilities of raising the families. Women have come up so well in that their dependency level is going down even though they are discriminated in salaries. This is a proof enough that if women are given equal opportunity with men they can do much well. In the employment sector women are taking those opportunities which were thought to be for men (Kramarae & Spender, 2000). Women are managers of big companies and also owners just as men. They are also well represented in the government sectors and in the government. They have become career makers. Men have the initiative of sharing the household responsibilities. It is a common occurrence that couples can choose whether it is the woman or the man who will get a leave to take care of their new borne baby. Men and women are equal in the eyes of the law; they are subjected under the same law. Women are equal to men in all aspects hence in the modern society they should get the right to basic needs, education, job training and employment as men do. Empowering women is a great tool for reducing poverty and advancing development. Empowered women contribute to productivity and health in the families and communities and hence improved prospects for the next generation (Cross, 2001). The idea that men are stronger physically is just a preference of a few. If women are given similar opportunities as men they can perform equally well. Denial of opportunity has contributed to decreased performance of women in various areas. On the other hand both women and men should not forget their roles though sharing of responsibilities is taking root in the modern society. References: Cross, P. L. (2001): Women’s Rights are Human Rights; Human Rights are Women’s Rights. Retrieved on 29th Dec, 2008 from: http://www. pinn. net/~sunshine/essays/w_rights. html Kramarae, C. , Spender D, (2000): Routledge International Encyclopaedia of Women: Global Women’s Issues and Knowledge. ISBN 0415920906, 9780415920902, Routledge Tierney, J. (2007): Men and Women, Different but Equal: What’s the Problem? Retrieved on 29th Dec, 2008 from: http://tierneylab. blogs. nytimes. com/2007/09/09/men-and-women-different-but-equal-whats-the-problem/ Tomasevski, K. , (1993). Women and Human Rights. ISBN 185649120X, 9781856491204, Zed Books