New UK GAAP Assignment Example | Topics and Well Written Essays - 1500 words

New UK GAAP - Assignment Example The need for a global reporting standard has gained more importance for small and medium sized organizations where the accountability of managers towards the investors are generally less transparent compared to large multi-national companies. Over the years such transparency might lead to mistrust between the owners and the managers leading to an Agency problem. Even though the advantage of general sets of international reporting standards are acknowledged, there are a certain implementation challenges at the international and domestic level if the objective of a harmonised and enhanced reporting structure is to be achieved. Table of Contents Executive Summary 2 Introduction 4 Advantages and Disadvantages of Global Reporting Standards 4 Importance of Accounting Standards Bodies 6 Harmonization of Reporting Standards in Recent Times 7 Conclusion 8 References 10 Bibliography 11 Introduction A considerable amount of countries and entities around the globe have adopted IFRS (Internationa l Financial Reporting Standards) as the base for financial reporting with the means and objective to enhance the value of information on corporate performance. In the year 2010, a potential new framework proposed by the Accounting Standards Board (ASB) to replace current Irish and UK GAAP has revised the original proposal and released 3 new drafts Application of Financial Reporting Requirements FRS 100, 101, 102, etc. ... ts to FRS 102 (FRED 48) which was issued on October 2012 restricted the proposed scope and amendments relating to accounting of service concession arrangements and multi-employer pensions. In addition, FRED 48 also contains proposed comprehensive accounting standards based on IFRS for Small and Medium-sized Entities. Even though the advantage of general sets of international reporting standards are acknowledged, there are a certain operational challenges at the international and domestic level if the objective of a harmonised and enhanced reporting structure is to be achieved (FRC, 2013, pp.3-12). Advantages and Disadvantages of Global Reporting Standards The need for a global reporting standard has gained more importance for small and medium sized organizations where the accountability of managers towards the investors are generally less transparent compared to large multi-national companies. Over times such transparency might lead to mistrust between the owners and the managers lea ding to an Agency problem. The implication of non-transparent reporting can be better understood when one analyzes the global financial crisis of 2008. A vigilant scrutiny of the financial crisis reveals an underestimation of the risk associated with financial instruments (such as Mortgage based securities), that led to inflated expectations ultimately triggering global financial crisis. This underestimation of risk perception of the investors was primarily motivated from the improper financial reporting of entities. Hence, an establishment of suitable reporting standards for accounting along with suitable disclosures in the financial statements has become a challenging task (Kurz, 2004, pp.1-5). The industries have experienced some tremendous changes in terms of financial reporting and

Study case Essay Example | Topics and Well Written Essays - 250 words - 3

Study case - Essay Example The ultimate objective of this training is to enhance employee happiness. When this is done, employee-employee, employee-employer, and employee-customer relations are highly likely to be enhanced. Subsequently, organizational performance is set to receive a positive impact from the training process. Organizations do not primarily depend on happiness coaches to solve the underlying real work problems. In this respect, happiness training is better termed as a complementary factor in addressing real work problems as opposed to being a diversion in that process. This can be determined by the manner in which an organization employs happiness training. In other words, happiness training should not excuse failure to solve real work problems. A happiness coach is suitable for a subordinate if the subordinate’s negative life and work aspects are observed to negatively affect the subordinate’s overall life and work performance. The supervisor is in a better position to assess and evaluate his/her subordinate’s performance relative to happiness or unhappiness. The ethicality of this matter depends on the approach taken to get the subordinate into the coaching

Complaint Letter Assignment Example | Topics and Well Written Essays - 750 words

Complaint Letter - Assignment Example After placing my order, I had to wait for more than 30 minutes to receive it. To make matters worse, the order was wrong and the person who served me was not professional enough to address my complaint. Instead, he answered me in a rude way as if I was a stranger in this particular restaurant that I have always treated with great esteem. I have also been forced to write a letter of complaint as a result of the bad treatment I received from one of the company’s staff members. I always believe that the customer is king in business but I was treated as a villain on this day in question. Companies that fail to treat their customers as valuable assets are likely to be negatively impacted by bad publicity they are likely to receive from other disgruntled customers. I therefore expect to get formal apology for this bad experience at McDonalds’ since I am a very loyal customer to the company. This will help me not to issue negative statements about the company that can tarnish its image. The other issue is that the company has not yet responded to my complaint and this has also contribute towards doubting the authenticity of the company in offering reliable and quality services. I probably feel that I have not yet received a response from the organization as a result of the fact that they are investigating the case so as to get to the root cause of the problem. Such kinds of issues need careful attention since they can tarnish the image of the organization if not properly handled. Therefore, the manager dealing with the case ought to take necessary measures that are meant to ensure that this issue has been solved in an amicable way in order to avoid a scenario where the image of the organization will be tarnished as a result of such simple issues. From this experience, I have discovered that some employees can just be rude and they can tarnish the image of the company.

Banton Manor Hotel Proposal Case Study Example | Topics and Well Written Essays - 2000 words - 1

Banton Manor Hotel Proposal - Case Study Example This report is designed in response to his request after the collection of qualitative and quantitative data from within and without the Organisation. It will also examine various theoretical evidences pertaining to the problems the hotel is found to be facing and suggest how conditions can be improved to promote the hotels growth making it more sustainable and competitive in the industry. It will try to show the organisational problems that underlie the restaurant by examining the internal and external factors and trying to come up with the right marketing mix to resolve those. After taking, all these factors to account the report will then propose a system where it can be successfully implemented to meet the objectives of the owners and overall provide more effective and competitive service. In many ways, the Banton Manor hotel run in a traditional and highly conservative way, its marketing like many such hotels is primarily passive with the main marketing tool being word of mouth and recommendation from customers. Largely the marketing manager Jill Bance who is the marketing managers focuses on printing brochures and manages the website where most of the firms marketing is done., she also uses Twitter and other social media but this is only when she is not too busy. However, she does not seem to have a tangible idea which of the tools used is the most effective. In an effective business, the promotional aspect of the marketing mix tends to factor in advertising, personal selling publicity and sales promotion. This should however be carefully tracked to ensure that they are directed to the target customers in the most effective way possible.

CELL BIOLOGY Essay Example | Topics and Well Written Essays - 500 words

CELL BIOLOGY - Essay Example In the first set, all hybrids with thiolase residue 100 intact have been imported into the peroxisome, and those lacking residue 100 or more remain in the cytosol. In the second set, all hybrids with residue 125 or greater have been imported into the peroxisome, and those lacking residue 125 or lesser remain in the cytosol. 3. In the absence of hormones, protein B binds to protein A in the cytosol (immediately after translation of protein A in the cytosol). This binding prevents access to the nuclear transport machinery. This can happen in many ways, two of which are described here: protein B may mask the nuclear localisation signal (as in the case of the hsp90 - steroid hormone system), or protein B may anchor protein A in the cytosol. In each case, the binding of the hormone to either protein causes dissociation of the two proteins, and protein A has access to the nuclear transport machinery. Thus, in normal cells, protein B is always found in the cytosolic extract, whereas the presence of hormone causes protein A to be found in the nucleus, rather than the cytosolic extract, where it is seen in the absence of hormone. 4. A. The protein enters the ER and goes through the default pathway (ER->Golgi->Cell Surface). This is because ER import is co-translational, whereas nuclear import is post-translational. Thus, before the nuclear import signal can be recognized, the protein is already within the ER lumen. B. The protein is imported into the mitochondria. This is because the nuclear export signal is different from the nuclear import signal, therefore the protein never enters the nucleus, and the mitchondrial import signal is recognized in the cytosol ii) The chances of fusion are increased, whenever the same protein (either Y or Z) is present on both donor and target membranes. Thus, when none of the two are present on both, the chances of fusion is 50% of the maximal, when either Y or Z is present on both membranes, chances of fusion increases

Maritime Economics Essay Example | Topics and Well Written Essays - 2500 words

Maritime Economics - Essay Example In the Shipping Industry, many Ship owners have been resorting to strategies like concentration to sort out the problem that are occasioned by freight rate fluctuation. This concentration has allowed them to maximize their market shared, reduce the cost per volume and remain in competition for the industry leadership. There has been a fluctuation demand for shipping services that is also faced with a fluctuation in supply of the shipping services themselves. (Hoffman, 1998, p. 1) On the demand side, many Shipping firms have believed that the best strategies for concentration will be realized when the merge the ships in order to gain from economies of scale. To that end there have been a series of mergers and acquisition that have lead to an oligopoly of the top 20 leading shippers owning over 50% of the industry business. (Hoffman, 1998, p. 1) The beginning of 1990s saw the formation of Alliances in the World lines. The progress so far has been 10 big groups controlling more than 65% of the volume transport. With a target of lowering the shipping rates, the millions of containers have been criss crossing the high seas from one port hub to the next with the world inflation also at their trail. It has been estimated that the biggest ship can transport more than 8.700 TEUs. The figure in Exhibit 1 below shows the trends of container ship mergers that were lead by motives of economies of scale. (Hoffman, 1998, p. 1) Exhibit 1.Effects of demand for technology on the shipping rates Adopted from Drewry Shipping Consultants, Post Panamax Containerships, London, 1996. Data for 2000 is an ECLAC forecast. (Hoffman, 1998,

Computer Generated Imagery in Movie Production Essay - 8

Computer Generated Imagery in Movie Production - Essay Example These new techniques include the use of motion capture or motion tracking. Avatar used this extensively especially in the development of some scenes which required the performance of the actor to be well captured. The use of motion or performance capture is done with a set of equipment. The first set includes sensors which are placed in the strategic locations where they can sense the motions of the individual. These sensors are then connected to a computer or a colony of computers which analyze the data collected by the sensors and they use this data to apply it to the animated objects. In Avatar, this method was used to capture the facial performance of the actors such as the movement of the lips, the eyes and the cheeks and the data was then used to animate the non-human characters. Motion-capture suits were also used to capture the motion of the whole body. The director of the movie thought it would be necessary to use this technology rather than completely depending on onscreen animation. The actors would wear special suits such as the leotard with sensors attached all over it (Johnson para 4). Each sensor has a computing capability making it possible for it to collect data and send it to a computer which would then analyze the data and create motion data for the computer graphics. In the making of Avatar, unlike in the making of Jurassic Park, the technology was developed specifically for the development of the movie. So, unlike in Jurassic Age where CGI was used as a way to complement the other techniques used to create reality, such as animatronics, CGI in Avatar was developed specially to the development of the movie. James Cameron, the director of Avatar spent over a decade developing this technology. This included special stereoscopic cameras which were able to capture the actions of the actions and effectively transfer this to the computer models such as the Navi  monkey-like beings.