Fair-value accounting change Essay Example for Free

Fair-value accounting change Essay The role played by the financial market in determining the levels of performance that can be recorded by the economy is not in doubt.   The 2008 economic crisis is a vivid reminder to all policy makers and even governments to ensure that issues that affect the economy are objectively addressed. The Financial Accounting Standards Board (FASB) which is a key player in the financial sector appears to be oblivious of its role in the economy and has once again used its mandate to develop a standard that is not relevant to business let alone accounting.    The move to adopt the mark-to-market accounting standard is a dark mark in American accounting history that may in fact lead to poor practices within the financial systems that have proven to be potent to the economy. It took America nearly 15 years to develop its constitutions; strategic management specialist have time and again pointed to the close relationship that exists between rapid change and failure and the FASB has for years taken months in seeking suggestions and deliberating upon them before making any proclamation that may affect the nature of the business environment[1].     All these are events or standards that the business world and America as a whole has come to accepted as being reflective of factors that affect the business environment. The speed with which the mark-market standards moved from proposal to being a standard brings about questions on objectivity[2].   A look at the last two times that America has found itself in crisis it has been the financial systems that duped to investors by inflating their performance or potential.   It is unlikely that such a hurried process which eliminates systems that have protected American investors will be of any good. FASBs modification of its rules is often waited upon with anticipation by all players in the business world.   The change in the fair value rules or standards is the main area of controversy in FASBs changes.   While the banking and financial institutions have praised the move as an effort to reduce the negative effect that previous standards had on developing a clear picture of their performance[3], investors are worried stiff on the effect that it will have on disclosures by banking and financial institutions that are traditionally known for overvaluing their assets and even performance. The fair value accounting rules had been blamed by a number of financial institutions that are notably under pressure from the 2008 economic crisis for being irrelevant to inactive markets. The mark-to-market accounting system that has been presented by FASB allows companies to use their judgment to gauge prices of some investments and backed securities.   Analysts were quick to note that the measures could in fact impact on the net income and affect bank write downs.   Pro mark-to-market standard institutions have hailed the changes with statements like the mortgage and market was not working and something had to change.   This is reflective of the true objective behind the move.   Investors who have been defrauded by American institutions in a number of occasions are wary of the changes that place them in a position where they are susceptible to exploitation by the financial community. The integrity of a development is largely dependent on the process that culminated in its existence.   Under this consideration, investors are innocent of unnecessary suspicion developed from poor past experiences.   The series of event that culminated into the existence of the mark-to-market standard is a reflection of the negative effect that the congress can have on effective decision making.   In his presentation on March 12th the chair of FASB did not mince his words in pointing out the faults that are inherent of the mark-to-market standards that the financial community was pushing for. The definition presented by Herz which should be presumed of FASBs definition of fair value is that it is the worth of an asset being exchanged between two informed parties[4].   In ending his statement the chair stated that America is in a challenging time that requires improvements in nearly all sectors and by trying to suppress financial information offered to investors there is little that will have been done to change the conditions.   His statement is a pointer to the misinformed objective that the change may affect the position that America currently is in and the existence of fair value system within financial practices. Whatever happened between 12th March and April 2nd is best left to Americans imagination.   The congress pressure has especially been cited by the media and being central to the changes that FASB made in fair accounting standards.   The same rule which had been dimmed lacking in objectivity became relevant to the American dilemma in a space of three weeks.   The hurried implementation of the change is the unspoken variables that belie its objectives. A pro derived from the development is the awareness that America is in a desperate position which needs to be addressed with immediate effect.   Moreover, the negative effect that bad performance within financial institutions had on the stock market may soon be historical events as financial agencies have been given a leeway to confuse investors and hide poor performance.   Profits that have not been evidenced since the likes of Enron went down may soon be usual and the same can be said of the pain that investors underwent in the turn of the century. The cons are clear especially sidelining of the effects that the operational environment has on operations.   The development allows for businesses to operate in a manner suggestive of independence from the operational environment while investors who may be aware of the prevailing environment are subjected to these daydreams.   The results may be increased wrangles within management boards, unethical practices within financial institutions and reduced confidence on financial disclosures which goes against their objectives. If any one thought that the FASB is perturbed by the controversies surrounding the development then they are in for a big surprise.   The FASB has practically done nothing and has sat back with some postulating that the next step they take may involve providing organizations with an environment where they can alter the value of all their assets at will. The standards used by investors and   financial players under the environment developed by the mark-to-market standards is non-uniform and may lead to a number of upheavals and even miscommunication that negatively affect value generation. It is evident from Herz’s speech on March 12th that the mark-to-market standard is a non-objective measure to curb the effects of the 2008 crisis.   The pressure placed on the FASB by the congress whose affiliation to financial heavyweight is not a mystery is central to the change.   This is not the first time such a development is being recorded for the French President played a pivotal role in some controversial changes made by the GAAP[5]. Investors should only worry for the short term for such subjective developments have historically proven to be uneventful.   It is only a matter of time before the follies in the mark-to-market standard that are actually known to all parties in the business fraternity manifests in the practical environment with dire results.   Changes that are appreciative of the operational environment will then be the only way out.

Into the Wild: The Tragedy and Triumph of Chris Mccandless Essay

It is like a tag on a shirt that keeps bothering your tender skin, it is the reason why you rip the tag off and make your own choices while walking into the unknown land of the wilderness, striving for the adventure that has dire consequences if executed improperly. Walking the unknown land of Hades abyss might have taken the sensitive life of one man, but it was done in a blaze of glory with no regrets. This man of course is Christopher McCandless in the book, Into the Wild by Jon Krakauer, which is based on a true story. In the book, McCandless strives for the cold Alaskan journey into the wild to satisfy his final thirst for the wilderness but tragedy strikes and it ends by him losing the most valuable thing to him, his life. Chris McCandless had exceptional reasons for vacating the life he lived which are also justified; he was also was not foolish for leaving that life and the outcome of his journey was a triumph and not a tragedy. McCandless had exceptional reasons for leaving home and taking on the life of a homeless person living in the wild. McCandless wanted to experience this type of individuality and to experience the life that Henry David Thoreau once lived, however there where more reasons on why he ultimately left home and decided to live the life of a free man. In the book, McKinney explains that Chris was convinced that humans had grown into inferior people and that it was his goal to return to the natural state of being a human (74). He also continued to say that Chris was experiencing what ancient civilizations experienced and that by the end of his lifestyle he had incorporated elements of Neolithic (74). This reveals his intensions from the beginning of his state of being an ultimately the beginning of his un... ... the milky crisp mountains of Alaska, it was everything he imagined it to be. However his burgeoning haplessness ended in the tragedy of his death. Though he abated in a world of reverie, he found enough energy to say his impeccable goodbyes to his loved ones and family. McCandless like a judge in the Supreme Court of the United States was justified in the absence of attending his life with his family and was not a fool for doing so. Though his incredible journey ended in demise, it was a feat for him and all of those who loved him. To quote Henry David Thoreau , â€Å"I learned this, at least, by my experiment: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.† Works Cited Krakauer, Jon. Into the Wild. United States. Villard Books, 1996. Print Into the Wild: The Tragedy and Triumph of Chris Mccandless Essay It is like a tag on a shirt that keeps bothering your tender skin, it is the reason why you rip the tag off and make your own choices while walking into the unknown land of the wilderness, striving for the adventure that has dire consequences if executed improperly. Walking the unknown land of Hades abyss might have taken the sensitive life of one man, but it was done in a blaze of glory with no regrets. This man of course is Christopher McCandless in the book, Into the Wild by Jon Krakauer, which is based on a true story. In the book, McCandless strives for the cold Alaskan journey into the wild to satisfy his final thirst for the wilderness but tragedy strikes and it ends by him losing the most valuable thing to him, his life. Chris McCandless had exceptional reasons for vacating the life he lived which are also justified; he was also was not foolish for leaving that life and the outcome of his journey was a triumph and not a tragedy. McCandless had exceptional reasons for leaving home and taking on the life of a homeless person living in the wild. McCandless wanted to experience this type of individuality and to experience the life that Henry David Thoreau once lived, however there where more reasons on why he ultimately left home and decided to live the life of a free man. In the book, McKinney explains that Chris was convinced that humans had grown into inferior people and that it was his goal to return to the natural state of being a human (74). He also continued to say that Chris was experiencing what ancient civilizations experienced and that by the end of his lifestyle he had incorporated elements of Neolithic (74). This reveals his intensions from the beginning of his state of being an ultimately the beginning of his un... ... the milky crisp mountains of Alaska, it was everything he imagined it to be. However his burgeoning haplessness ended in the tragedy of his death. Though he abated in a world of reverie, he found enough energy to say his impeccable goodbyes to his loved ones and family. McCandless like a judge in the Supreme Court of the United States was justified in the absence of attending his life with his family and was not a fool for doing so. Though his incredible journey ended in demise, it was a feat for him and all of those who loved him. To quote Henry David Thoreau , â€Å"I learned this, at least, by my experiment: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.† Works Cited Krakauer, Jon. Into the Wild. United States. Villard Books, 1996. Print

What empathy means to me

Although there are many definitions for the term empathy, one of which states that it â€Å"refers to the reactions of one individual to the observed experiences of another (Davis,113)†, a very fitting definition, however empathy is so much more than Just a label for a reaction toa situation. Personally I don't think empathy is measureable by scientific assessment, rather empathy should be viewed as a means of moral virtue. A large part of empathy is respect; disagreeing with someone's choice or thought, while being able to view a situation from their point of view without udgment is truly key.This being said, that doesn't mean you have to agree or change your thoughts, but the ability to take in both opinions and react approperately is empathy. Both of my parents taught me â€Å"have you thought about their side of the situation? † This use to frustrate me until I discovered that taking a step back from my perspective and looking at it from a different approach usually made me change my attitude about the situation. No, it didn't always fix the situation, but it encouraged me to change my attitude from negative to understanding.Matthew 7:12 states â€Å"So hatever you wish that others would do to you, do also to them, for this is the Law and the Prophets. † Empathy is like a mirror, a reflection, but a reflection of emotions that you feel in your life being applied to the lives of those around you. This expression though commonly thought of as a sympathy or a form of comfort, isn't always the case. Looking at life through the eyes of others is how empathy is expressed. This realization of others feelings can create a bond between you and them. Reflecting on your experiences and applying the emotions from your life to situations of others is part of this mirroring.Empathy was defined by www. newyorker. com in the article The Baby in the Well by Paul Bloom as â€Å"an instinctive mirroring of others†. He also brings up the case of â⠂¬Å"The Empathy Altruism Hypothesis† a study done by psychologist C. Daniel Baston. This theory states that taking into consideration others points of view produces a form of self-satisfaction. This self-satisfaction is selflessness; that in itself self-motivates that person to express more empathy. I agree that there is self-satisfaction in helping others that drives you to want to help again, without any form of repayment.Empathy isn't Just thinking about doing something, but taking action. Empathy as an action seems to fall into a grey area where compassion, kindness, and comprehension all mesh together in a common meaning. According to www. thesaurus. com, these terms are synonymous; in this way, empathy is some much more in-depth than Just a term. Theodore Roosevelt once said â€Å"No one cares how much you know, until they know how much you care†. Part of being human is having expression, and emotion. Without it, what would separate us from a robot? Gary Small and Gigi Vorgan wrote the articleIs the internet killing empathy? (found on www. cnn. com) and bring up the statement â€Å"have our brains become so desensitized by 2417, all-you-can eat diet of lurid flickering images that we've lost all perspective on appropriateness and compassion†¦? † I agree that it has. Empathy is something to be learned over time through personal experience. This cannot be achieved without interaction with others face to face. If someone never experiences a situation how are they to know think that much of our perception of empathy comes from our learning though personal interaction.The only way that empathy can be taught is by experience. Whether that be reading someone else's reaction to something, or taking the â€Å"monkey see, monkey do† approach. Regardless, empathy to me is my connection, reaction, and personal views of a situation being expressed toward others at all times and having respect for both of our views. I appreciate that I was taught from an early age to view others opinions, no matter what the case may be, and interpret situations in that manner. Listening, understanding, and interacting with others is the appropriate action in all things in life.

Debate on Male vs. Female - 943 Words

My Debate on Sex In my opinion the biggest social issue we face is prostitution. I believe it should be legal. If an adult woman wants to sell her services of sexual acts, she should be allowed to do so. Women sell their bodies for movies and advertisements. Women sell their eggs to help other women produce babies. Some women rent out their wombs for other women. These acts are legal; there is no reason why a woman should not be able to make a business out of selling sex acts. The business should be taxed and regulated like any other business. The woman should have to follow the rules for safe sex and she should be able to refuse service at any time. I do not believe as the Swede’s do that prostitutions makes sex violent. Sex is†¦show more content†¦I purposely try to avoid those things that are advertised using sex to sell them. I think I am one of the few. I believe we have made great strides in combating AIDS. As a society we have come together through educational campaigns and ra llied. We as a society pushed for research to help combat the AIDS virus and find a cure. It is too bad we cannot work together this well on other matters. I do not follow any of the political analyses verbatim. I believe as conservatives do that families should teach their children about sex and self-restraint. Children must be taught about ways to protect themselves and parents should offer to buy condoms. Parents must be open and honest with their children and themselves when it comes to adolescent sex. I disagree with the liberal view of prostitution, but I agree with their view on pornography. I agree with the radical left that we need to eliminate gender discrimination in our society. We are all people and what we do behind the bedroom door does not define who we are. All I know is what I believe. We as a society spend far too much time, talking about sex, looking at sex, worrying about who is having sex and wondering if we are sexy enough. We want to regulate sex, tell people they cannot have sex and defend the rights for those who do. We have come a long way in understanding sexuality, but we still have a long way toShow MoreRel atedNature Vs Nurture Debate1343 Words   |  6 Pagescontroversial to psychologist since the phrase was created in 1869 is â€Å"Nature vs Nurture†. Although the debate was started well before then, 1869 was the first time it was tied to the debate. The nature vs nurture debate is over whether you get your behavior from genetics, what you inherited from your biological parents, or if they are learned characteristics, what you learn from the environment and what you get taught. The debate can be traced back to early western philosophy and is still relevant todayRead MoreThe Idea Of Women And Men Use Language Differently1199 Words   |  5 Pagesinterrupted more. Robin Lakoff found that women’s language lacks authority when compared to that used by men and she believes that women use many techniques in their speech that are deficient to men s speech. In the Deficit Model Robin Lakoff describes male language as stronger, more prestigious and more desirable. She argues that women are socialised into behaving like ladies . She gives examples of language techniques women use that make their language seem deficient these include, fillers, hedgesRead MoreThe Great Debate : Essentialism Vs. Dominance1138 Words   |  5 PagesBeep, Beep look out there’s a woman on the road. Often time’s women are stereotyped as a bad driver. In the article â€Å"The Great Debate: Essentialism vs. Dominance,† Courtney Stoker argues that there is a difference in communication between men and women through two theories. The Essentialism theory is the thought that men and women communicate differently due to their natural instincts as the D ominance theory imposes that the difference in communication is due to men’s perceived dominance (StokerRead MoreGender And Nature Vs. Nurture994 Words   |  4 Pagesgender is something that is self-identifiable, most people live their lives being told what it should look like or be. Scholars and scientists debate over the heaviest influences on an individual’s gender; thought to be generally comprised of some mixture in brains, genetics, evolution, biology, and socialization. Modern debate looks at supposed ‘nature vs. nurture’ influences and gender’s ever-relevant role in the LGBT+ community. However, it is foggy what chiefly constitutes a person’s gender andRead MorePro-Consent Essay989 Words   |  4 PagesThe three main aspects of politics, religion and the women’s right to choose go into the different arguments over the debates of abortion. One of the movements which is pro-life which is against the legalization of abortion. Another main movement is pro-choice which believes that ‘if’ the fetus is a person then the women can’t if the abortion. However, pro-consent believes that the women have a right to choose to consent to the condition of pregnancy or obtain an abortion (McDonagh, 23). Pro-consentRead MoreDescribe the Role of Genes and Hormones in Gender Development794 Words   |  4 Pagesgenes and hormones in gender development† Biological sex is determined by chromosomes in your genes. At prenatal development, only a few weeks after conception, there is no notable difference between male and female structure until the Gonadal Ridges, the structure which develops either female or male sex organs, grows to determine the sex of the baby. All prenatal babies have genitalia that appears distinctly feminine until at three months, hormones- testosterone if the baby’s to be a boy, and oestrogenRead MoreGender Subjectivity, By Judith Butler841 Words   |  4 PagesGender subjectivity is another important aspect of the debate around gender because it focuses on a move away from the idea of innate sexual identity characteristics that divide human beings into male and female (Encyclopedia of Critical Psychology, 2014). This type of view challenges the essentialism of sexual difference into something more then a binary between male vs. female, heterosexual vs. homosexual, etc., as it recognizes that these dichot omies are problematic because the term of genderRead MoreEssay On Masculinity1259 Words   |  6 PagesDifferences in gender roles of men and women have been a topic of debate for years. People argue whether there is still masculinity and femininity in today’s society. Masculinity can be defined as being protective, aggressive, assertive, competitive, confident, and independent (Gordon). Femininity can be defined as being honest, loving, kind, empathetic, and nurturing (Dalla-Camina). Masculinity is mainly found in men and femininity is mainly found in women. These differences in gender playRead MoreTechnology s Progression And The Advancement Of Human Societies1486 Words   |  6 Pagesindividual without the worry of any repercussions. Social media sites, such as Facebook and Google+, are prone to abuses like cyberbullying. Anonymous blogging is another technological advancement that has fostered cyberbullying activity and fueled ethical debate. On sites, such as College ACB and Juicy Campus, which have both recently faced tightened regulations due to their verbally abusive nature, youth (typically of college age) were able to login and comment anonymously in an open forum. The forum includedRead MoreNature Vs. Nurture : Psychology And Biology1449 Words   |  6 Pages Nature vs. Nurture is one of the most prevalent theories in psychology and biology; scientists previously believed that personality traits were derived from either genetics or environmental elements, but more recently have concluded that both factors play a role in the expression of genes. However, the influences of genetics and environmental factors on sexual orientation is still a controversial topic which is currently being discussed in both psychological and biological debates. While many researchers