Reaction Paper- Asian and Global Crisis Essay Example for Free

Reaction Paper- Asian and Global Crisis Essay Reaction Paper Asian and Global Crisis During the Asian and Global Crisis many of the criticisms are against accounting and accountants. In my further readings, I’ve read that during the Asian Crisis in 1997, where affected countries suffered severe setbacks in their economies and where development stagnated, the accountancy profession, including its standards, policies and levels of information disclosures, had played a role in the start of the crisis, and perhaps had even worsened it. Moreover, I’ve also read that during both crises, the Asian Crisis and Global Crisis in 2008, insufficient clarity in what was being measured, the wrong things being measured or things being measured inappropriately, lack of standards, inadequate transparency and poor ethical conduct, in short, poor corporate governance is the main breadth and depth of the crises. As a future accountant, what will I do after all the doubts and criticisms against the profession? In my opinion, sufficient clarity on what to measure, measuring things appropriately, following the applicable standards, adequate transparency and good ethical conduct are the things that I should carry out. It should be clarified in the accountant on what is the thing that he/she should measure. If I’m the accountant I should be knowledgeable on the nature and I should have understood necessary facts about the account when doing measurement or on examining the reasonableness of the measurement method used by the management. In addition, in measuring risks like financial risk, I should use a valid and reliable risk measurement technique because the information that I’ll be giving will be the basis for the management’s decision-making. If I have measured the things incorrectly or a wrong technique has been used, it could be misleading to the decision-making of the management and may cause chaos in the future to the company. In an accounting perspective, applicable generally accepted accounting standards should be used in the accounts of the financials of the company. Strict compliance should be observed so that transactions are properly recorded, summarized, classified and accounted for. Adequate disclosures should also be done. In the auditing perspective, as an auditor, auditing the company should be in accordance with the applicable generally accepted auditing standards. The auditor should be independent so that the opinion will be unbiased. I would like to emphasize that in compliance with the generally accepted auditing standards, the auditor should always take into consideration if the company provided adequate disclosures. Disclosure on significant matters is really important for the users who don’t have enough information regarding the matter will be informed. However, I have read in an article that there is also a lack of standards that also caused the hitch on crises. Regarding the lack of standards, I think it is already in the hands of the appropriate groups with authorities. Accountants need to refocus the structuring of financial transactions so that they comply with generally accepted accounting principles and that the economic substance of financial transactions is communicated. More accountability and ethical awareness needs to be instilled in the individuals who deceitfully structure financial transactions. Regulatory bodies need to ensure more transparency by closing loopholes and better enforcement of accounting standards. Audit committees, need to be sure that a company is communicating the true economic reality of the financial transactions and financial position of the business entity. Off-balance-sheet financing is one of the most significant ways, among others, that the user of financial statements can be misled. It is time for regulatory bodies to eliminate overly rules-based standards, clearly state the economic objective of each standard, and require firms to disclose the economic motivations for the accounting practices they adopt. While making judgment accountants need to be cautious and prudent. Accounting transactions and other events are sometimes uncertain but in order to be relevant it should be reported in time. Accountants have to make estimates requiring judgment to counter the uncertainty. Prudence is a key accounting principle which makes sure that assets and income are not overstated and liabilities and expenses are not understated. The bottom-line for all of these is to have good corporate governance. As defined by Robert M. Bushman, corporate governance structures serve: 1) to ensure that minority shareholders receive reliable information about the value of firms and that a company’s managers and large shareholders do not cheat them out of the value of their investments, and 2) to motivate managers to maximize firm value instead of pursuing personal objectives. I believe that all of the things I have mentioned are some of the keys that can help me as a future accountant in dealing the reality and to get out of all the doubts against the accounting profession.

The Existence Of God Essay -- essays research papers

The Existence of God   Ã‚  Ã‚  Ã‚  Ã‚  The existence of a God has for generations been the topic of fierce debate. This most usually occurring between members of the religious society and, everybody else. As a matter of fact the religious world itself has not always been able to agree on God. This has resulted in many a holy man to take up the fight for his deity through the realm of words. Many theories have been proposed, and all think that theirs proves beyond a doubt on whether or not God exists. To write this paper I read four of those theories by assorted men of the cloth, who all attempt to make the argument for a God in the Christian sense.   Ã‚  Ã‚  Ã‚  Ã‚  The first of the theories I looked at was that of St.Anslem of Canterbury. He supplies the ontological argument for the existence of God. The ontological argument states that by understanding the nature of God himself, we come to realize he exists. He explains this argument by first defining what God is. Anslem says that God is a being than which nothing greater can be conceived to exist, that it can not even be considered not to exist. In short, the fact that said being can not be considered not to exist, would thereby make it greater than any that could be considered not to exist. This would in all reality be the secret to God's omnipotence in Anlsem's eyes. Another point that he stresses is that just be understanding the concept of what a God is, you are proving his existence. This is because if you understand who God is, you can also accept his existence, and therefore cannot conceive that he does not exist. Therefore making him that which nothing greater can be conceived of, and which cannot be conceived not to exist which we have already defined as God.   Ã‚  Ã‚  Ã‚  Ã‚  The second argument for a God comes from St. Tomas Aquinas, who argues for the cosmological point of view. The cosmological argument states that all things in this universe have a cause, and since these causes cannot go on for ever there must be a first cause, i.e. God. He argues that there are five ways to argue for the existence of God, the first is the argument from motion. This states that everything in this world has certain potentials for motion. It also states that for these potentials to be met another object n motion must set off said potential. That object in turn would have ... ...ad and the point would be moot.   Ã‚  Ã‚  Ã‚  Ã‚  So by looking at these paths Pascal decided to look at the risks of each wager. In the first you get infinite rewards from only one life of believing. Plus he felt that you also probably had a fulfilling and enjoyable life too. So the first, can be looked at as a win win situation in which you risked very little, and won much. The second and fourth possibilities did not really concern Pascal much because by thinking of it in terms of odds, neither seemed probable, and again wouldn't matter anyhow because you would no longer exist. The third possibility however, in which you could end up in hell, seemed to help persuade Pascal into believing in a God. He felt that for the amount you had to lose in this situation, no intelligent human would take the risk. So in conclusion, Pascal came to believe that believing in a God was a safe bet, in that it had the least risk with the highest returns.   Ã‚  Ã‚  Ã‚  Ã‚  As for myself, after reading these papers I find myself tending to side with Pascal the most. I don't think that a little insurance could hurt, because until there is proof otherwise none of us really know.

One-Student-One Sports Essay

The 1Student 1Sport was launched by Education Minister in the year of 2011 to all the schools in Malaysia. It was stated in the circular dated 1 December 2010 from the Ministry of Education of Malaysia. The 1Student 1Sport policy makes it compulsory for students to participate actively in at least one sports’ activity in the school. It was established to enable every student to have the access to the benefits of participating in sports, in particular for students who are less or not active. It is to encourage students to adopt a healthy and active lifestyle. Each student is required to be actively involved by participating in the school’s sports activity throughout the year. It is also to provide the opportunity to students with talent and potential to be developed further in their sports carrier. But for student with poor health condition can be exempted from this policy. Objective of 1Student 1Sport. The objective of 1student 1sport is to increase physical fitness, to develop students characters, self-esteem discipline and moral values. Students will practice healthy lifestyle and also be able to perform excellence in their academic and sport. It is also to foster racial unity among the students. The most important task is to fulfil school children’s natural affinity for physical activities and provide balances between their academic and physical needs. For students with passion in sports, this is their opportunity for them to show their excellence and performance. The benefits. It is no doubt that this programme is useful for students. Nowadays children, they are less exercise even in school or home. They are keen to sit in front of television and playing computer games. They’re also no interest of cycling, jogging or even gardening. Children those days are more active such as playing football or badminton, helping their parents in the garden and even often played hide and seek. Their everyday activities required them to move and their physical fitness is fit as a fiddle. Exercise is good for everyone, no matter what age they are. Regular exercise for children can help them to maintain their weight and keep the body systems healthy and strong. Good exercise habits are just as beneficial to children as to adults. According to the report and research from the health ministry, 30 percent of children between the ages of 6 and 17 did their exercise daily, yet are not as physically active as they should be. Good habits can start at home, but it must continue throughout the child’s life for continued good healthy lifestyle. Parents and teachers are the good role model to help these children exercise and make sure they are healthy. Children that participate in daily exercise are less to become overweight, they are maintain strong bones and muscles. They are also less likely to develop chronic diseases such as diabetes, heart disease, high cholesterol, high blood pressure and cancer. The child’s overall well-being, are the kids that are physically active routinely always higher self-esteem, less stress and they perform better in school. If the children play a team sport to fulfil their suggested exercise requirements, they may also have a head start on developing the interpersonal skills that they’ll carry with them throughout the life.

Why Gay Men And Gay Couples Should Be Legal - 944 Words

How Gay Men and Lesbians Perform as Parents Compared to Heterosexual Couples Recently, controversies have been witnessed concerning the issues of gender and sexuality. For example, the US government has issued directives regarding the legality of same-sex relationships. Several states in America have legalized homosexuality while the others have remained adamant to accept such sexual orientations. Same-sex and transgender couples have been facing prejudice, discrimination, and hatred from the general public that supports heterosexual relationships. However, the legitimacy of any form of sexuality should be determined following an empirical research and analysis rather than drawing conclusions from unsubstantiated arguments. The most common†¦show more content†¦This shows that just like heterosexual parents, same-sex couples have good parenting skills. When it comes to their children, they show no differences as they grow up when they are compared to the children from heterosexual couples. When a study of children between the age of five and fourteen years was conducted, the results showed that children of homosexual females depicted the normal pattern of development in gender identity (Patterson, 2005). Other studies have also confirmed that such children show normal gender-based behaviors and sexual orientation. Across a wide range of empirical researches, it has been found out that adjustments in such areas like school, family relations, and personality of children from same-sex couples do not differ with those of the children from heterosexual parents (Wainright et al., 2004). Therefore, assertions that the same-sex couples are unfit for parenting lack empirical basis. Gender Transition and Relationship A romantic relationship features two individuals, either of the same or different sexes developing reciprocal affection. It is important to note that there is nothing abnormal when someone is in love with a transgender person. The two lovers develop an interest in each other, and they appreciate their sexual nature. Also, love entails a lot apart from the sexual relationship. It is a source of understanding and support. Therefore, when a partner decides to goShow MoreRelatedStop The Madness: Gay Marriages Should be Banned Essay676 Words   |  3 Pagesright for same-sex couples to marry. Should gay marriages be legal? Why should our nation accommodate such a dreadful Supreme Court ruling? Gay couples have become a major problem for our children. Children only repeat what they hear, see, and other habits from their role models. Our children are the ones who are being subjected to these horrifying situations.   Ã‚  Ã‚  Ã‚  Ã‚   Gay marriages should be banned because God did not intend women to sleep with each other, nor men with men. 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