Accounting is not a root cause of the financial crisis, but it has an Essay

Accounting is not a root cause of the financial crisis, but it has an important role to play in its resolution - Essay Example The United States of America was the epicenter of this crisis. The sub-prime crisis caused many key businesses to close down and equity markets all around the world recorded tremendous decrease of their respective indices. This financial crisis almost created mass scale unemployment around the world. It is very interesting to study the role of financial accounting in this crisis. Many experts have expressed the view that the method of fair value accounting have exacerbated this crisis but did not initiate it. The first part of this essay will aim to analyze the role that fair value accounting played during this crisis and whether it has enhanced the crisis or not. Second part of this essay tries to find out whether accounting can provide remedial solutions to this crisis. Role of accounting in the financial crisis According to Financial Accounting Standards, even in the absence of active market or during unfavorable market conditions the banks are required to calculate the values of its assets which will be different and lower than the true value. The final figures of various financial instruments like the Credit Default Swap are calculated at fair value and as a result create misleading impressions. Due to the fair value accounting the banks will sell the various securities at a relatively cheaper price. This would trigger the panic button in the markets and as a result there would be a global meltdown. Through the fair value method of accounting it is not possible for the banks to measure the financial instruments accurately. As a result the banks are forced to incur losses because it sells its assets at lower prices. These losses affect the entire financial markets. There is also a possibility that the banks spent large amount of money to acquire assets at market value calculated according to the fair value accounting method but these investments eventually becomes a burden and cause huge losses. But a closer examination of the situation will bring out the f act that the role of fair value accounting in this financial crisis is very minimal. The US banks lost most of their fortune on loans that they made to non credible borrowers. Losses due to mark to market were far lower than the losses the bank made from bad loans to non credible borrowers. The banks recorded high losses even when they have not valued the price of their various financial instruments under the method of fair value accounting. The major portion of the losses constitute of defaulting loans that their debtors failed to pay off in time. Economists like Easton, Burks and Badertscher have tried to find whether due to the fair value accounting the banks during the sub-prime crisis had sold their securities at lower prices than the actual but they have not found any evidences which would support this idea. According to another expert Shaffer the impact of loan losses was much greater than the losses suffered by the bank due to fair value accounting. So it is quite clear that fair value accounting method did not play any significant role to create the financial crisis but it only helped to worsen the crisis further1. Role of accounting in the recovery from the crisis Generally, most of the organizations use a method of accounting that combines the methods of historical cost accounting and fair value accounting. This creates confusion in the minds of the investors. Panic among the investors accelerated the crisis as the companies failed to give their investors a clear picture of the net asset values and the total values of its assets. The common investors lost all

Critical Thinking & Ethics Essay Example | Topics and Well Written Essays - 750 words

Critical Thinking & Ethics - Essay Example Abortion is accepted in some countries and societies and in others it is against the law. However, in some cases abortion is allowed. Such cases where abortion may be allowed include cases where the pregnancy has to be terminated for the sake of the mother’s health. Today, the debate of whether abortion is ethical or unethical is very intense. Some people believe that a woman has the right to choose whether she is going to have an abortion or not since it is her who carries the pregnancy (Carter, p.43). However, most people feel that abortion is totally unacceptable, and it is never an option for any pregnant woman. They completely oppose abortion arguing that it has become a solution for careless sexual behavior especially among the young people. Such people opt for abortion because they are afraid of facing the outcomes of reckless sexual behaviors including pregnancy. In their view, abortion is totally unethical and immoral since it involves killing a living child and not some biological ‘thing’. Women who decide to have an abortion are at risk of developing breast and cervical cancers or even death as a result of the abortion process. These women are also more likely to have more abortions in future (Tribe, p.23) Abortion is not illegal in most developed nations. However, people still view abortion as an immoral act which is totally unacceptable. The fact that abortion is not illegal in such countries has in some cases led to abortions because of the sex of the baby. Some of the countries that have legalized abortion do not view it as being unethical. Such countries use abortion as a way of regulating population size, regulating certain groups of people in a population or as a way of improving the population. Such countries have continued to be criticized from many parts of the world for being unethical because of allowing abortion. Critics argue that these countries should promote the use of contraceptive instead of ending the lives

The integration of Drama Research Paper Example | Topics and Well Written Essays - 1750 words

The integration of Drama - Research Paper Example A separate stream of education called Theatre in Education (TIE) came up after the Second World War (Farrell, 2002). Drama has been established as successful as a correction tool (Okhakhu, & Usrwoma, 2006)   and as an educational tool(James, 2009).The basic philosophy behind using drama as a process based tool in education is that children tend to use experiences and experiments to learn than reading and listening (Booth, 1994). This basic understanding has been further researched and developed into pedagogies catering specifically to the various learning outcomes. The specific learning requirements of behaviourally and emotionally disturbed children also demand a free platform to do and experience. Research on curriculum catering for the special needs of children with emotional and behavioural disabilities have suggested that such programmes must mandatorily include â€Å"provision of coursework and educational activities relevant to students’ real-world experiences and go als that include a variety of non traditional curriculum,† and, â€Å"provision of effective programming that facilitates students’ social, emotional, and behavioural growth† (Hughes & Adera, 2006).Drama can ideally include these two criteria. Drama has been found by the educational and physiological as an ideal platform for children to have a free environment to enhance learning. The basic strategy in using drama in the curriculum of behaviourally and emotionally disturbed children.... gested that such programmes must mandatorily include â€Å"provision of coursework and educational activities relevant to students’ real-world experiences and goals that include a variety of non traditional curriculum,† and, â€Å"provision of effective programming that facilitates students’ social, emotional, and behavioural growth† (Hughes & Adera, 2006).Drama can ideally include these two criteria. Drama has been found by the educational and physiological as an ideal platform for children to have a free environment to enhance learning. The basic strategy in using drama in the curriculum of behaviourally and emotionally disturbed children is to make learners engage in the learning process. The objective of this essay is to analyse the scope of drama as an effective learning tool to be incorporated in the curriculum of behaviourally and emotionally disturbed children. Drama as cooperative activity Children with behavioural and emotional disabilities or is sues find it difficult to cope with their peers. They also find it very difficult to place themselves in a classroom environment. Thus the basic problem that behaviourally and emotionally disturbed children face in a classroom is that they encounter with a learning environment which they find difficult to cope up with. In the case of behaviourally and emotionally disturbed children, it is a general observation that apart from class room settings, they find it difficult to social gatherings and avenues of cooperative activities. Researches in Psychotherapy have suggested engaging these students in positive environments involving cooperative activities as one of the remedial measures in tacking behavioural issues. Drama serves as an ideal platform for this. It involves wide varieties of cooperative activities

History of Search Engines Dissertation Example | Topics and Well Written Essays - 2500 words

History of Search Engines - Dissertation Example nt of time, the files used to remain spread on unidentified public FTP servers which were only able to be found when someone declared a particular file’s availability through email and discussion forum or such similar sources. After a time-span of a year a dispersed search as well as recovery system procedure for documents known by the name of Gopher, was made available in the Internet. This was developed by a team of researchers belonging to the University of Minnesota. This release of Gopher was trailed by the emergence of few programs of searching known as Jughead as well as Veronica. These programs were stated to explore those files which were grouped in the directory systems of Gopher and made available a search related to the records and names with the help of a keyword on the numerous servers of Gopher (Gasser, 2006). Accessing the Internet speedily stretched outside its earlier area of research which was of industrial organizations and academic world. This reformation and alteration took place after the World Wide Web (WWW), which was made available publicly from August 1991, achieved vital mass in the year 1993. This was achieved with the help of the emergence of ‘Mosaic’ which was a web browser. ‘Mosaic’ was stated to be the initial program that offered a user a graphical user interface. Corresponding to the emergence of ‘Mosaic’, the earliest search engine of Web came forward. Wandex which was a directory of confined Universal Resource Locator (URL) and was founded on the earliest web crawler known as the World Wide Web Wanderer was developed. This was initially developed at Massachusetts Institute of Technology (MIT) for the reason of tracking the progress of the web. At the similar time, a range of search engines surfaced, entailing Aliweb.... This essay discusses that the information or data will be collected from secondary sources such as library materials. The sources will include journals, books, reports, articles, and magazines. This will be observed to be quite suitable for the research study owing to the easy accessibility and the broad mixture of sources which will assist in making the research more precise and correct. It is important that the information is gathered from the right sources. The legitimacy of the sources considered in this study will also be considered as a reason for selecting this process.The way of evaluating the information in this research study will be with the help of qualitative method. The qualitative method will be selected for the study as the data collected will consist of a wide range of information which will be to a certain extent impossible to be quantified. From the above discussion, the history of the search engines can be evidently traced. It can be inferred from the history that various search engines were released owing to their importance. Constant innovations were made so as to enhance the functions of the search engines. The amount of people browsing the web has been increasing with every passing day and so is the requirement of search engines. These not only aid in narrowing down one’s search but is also being used a source of promotion by the companies. The research will help to provide a pertinent reflection on this valuable factor in the global Internet platform.

Fashion Taste and Ethics Essay Example | Topics and Well Written Essays - 2500 words

Fashion Taste and Ethics - Essay Example The essay "Fashion Taste and Ethics" discovers the taste in fashion. If the word can be taken within this context, ways in which the word culture is used seems to be fine. However, there arguably seem to be a different view concerning the term culture ought to be viewed. Perhaps this can enlist some reaction. With a view to help people appreciate the wholesome significance of a culture for the better understanding of humanity it is it certain that there is meaningless distinction between low cultures and high cultures. This thus implies that it is impossible for a certain group of people to be said to be more cultured or otherwise have more cultures than others. It goes without saying that the term culture from the anthropological point of view has a different distinctive meaning away from what it is known. This paper, therefore, investigates the word culture with a view to provide a fairly precise definition. In this paper, other terms that encompass the term culture shall be discus sed. The paper shall cover some pertinent elements of culture, as well as elaborate how essential culture is as far as human species is concerned. The paper shall sum up with explaining the modern anthropological view concerning how physical or biological differences and cultural differences between the human populations are closely related. The most widely celebrated technological developments are those pertaining to culture. These technologies are widely celebrated because they have broken physical barriers, transforming the world. into a village. The eventuality is that the current era is characterized by increased interaction of people across all cultures in the world. Therefore, it cannot be disputed that, as far as intercultural interactions are concerned, communications remains a pertinent subject. Indeed, communication barriers are not uncommon in communication, especially in communications involving low context and high context cultures. What may make the subject further cr itical is when nonverbal communication is involved. Eye-contact non-verbal communication is one of the critical areas of concern in high-context and low-context intercultural communication. Eye contact is not only an important form of verbal communication, buts also a human form for communication; animals are often disturbed by eye contact (Salas, 1992). A substantial focus has been directed to understanding intercultural eye-contact communication, in order to foster cultural competence and minimize cultural conflict. However, few studies have focused on assessing the implications of eye-contact on instruction adherence, especially in the multi-cultural learning environment. In the early phases of human revolutions, most human activities were limited to organized groups, that is, societies. As time went by, the interaction among these societies opened up, extending across regions, cultures, and languages. Undoubtedly, trends in business activities followed the same trend. Even intri guing is the fact that the world has evolved to the extent that globalizations has made human activities subject to cultural interactions. The world is now a global village, where people across diverse culture and all regions of the world interact more frequently than ever. To this extent, it cannot be overemphasized that human beings, as well as

Contemporary artists - Ackermann, Andre, Applebroog, Arevalo, Acconci Essay

Contemporary artists - Ackermann, Andre, Applebroog, Arevalo, Acconci - Essay Example The essay "Contemporary artists - Ackermann, Andre, Applebroog, Arevalo, Acconci" will specifically discuss the achievements of some contemporary artists like Rita Ackermann, Carl Andre, Ida Applebroog, Javier Arevalo, and Vito Acconci who contributed much to the world of contemporary art. Rita Ackermann, the Hungarian- American painter was born in 1968 at Budapest in Hungry. She completed her basic training from University of Fine Arts Budapest and flew to New York in order to achieve higher degrees in painting from the New York Studio School of Drawing, Painting and Sculpture. Even though Ackermann mainly concented in paintings and drawings, she was also interested in T-shirts and skateboard designing. She is a well known contemporary artist who challenged all traditional concepts of painting and depicted contradictions of human nature on her canvas. In her early stages of painting, she focused on the seductive notions of pubescent girls and their conceptual transitions of nymphoma nia in various phases of their lives. She also tries to enlighten a plethora of social factors which influences or inspires these mental abnormalities. Similarly she bases pornographic ideas in her paintings with the intention of reflecting mental variances in human values and relations. In her opinion, attraction of music and other art performances influence her a lot in the works. Ackermann’s â€Å"work is often most striking where it most closely resembles something we have been seen before† (Schjeldahl).

Healthy Grief Assignment Example | Topics and Well Written Essays - 1000 words

Healthy Grief - Assignment Example In this article, we shall compare and contrast Kubler-Ross’s grief model to the Book of Job which will make us realize how Job is an example of healthy grieving and how the process of coping with grief has been same since centuries. In addition, we shall get to compare the process of coping with grief in two different religions – Christianity and Buddhism – which will teach us that gaining knowledge of a patient’s religious beliefs is relevant for health care provider so as to ensure good service and support to the dying patient and his family. Moreover, in the later paragraphs we shall discover the relationship and interaction between joy and the grief models which will make us realize the fact that joy and grief are not separate rather they are a part of each other. After doing the above researches, I have realized that by developing an understanding of the grieving and coping processes every health care provider can provide comfort and support to the gr ieving family in a better way and also come out of his/her personal grief very swiftly. Grief has been referred to as the comprehensive response to death and losses of all kinds, and includes emotional, psychological, social, as well as physical reactions. Numerous models and theories have been evolved by theorists that explain the process and stages involved in grief. In 1969, a psychiatrist Kubler- Ross had devised a grief model to provide a mean for understanding and coping with dying. The model has five stages: Denial, Anger, Bargaining, Depression and Acceptance. According to Ross, these five stages are part of the framework that makes up our learning to live with the one we lost. Her theory on stages of grief established the ground for scholars and others who work with grieving people to examine and to work therapeutically with those who mourn. This theory is formed in a sequential and linear order where one stage swiftly moves into the next stage so that in a healthy grief a person should move from shock and denial to acceptance within a timeframe. However, she added that one may not necessarily go through all the stages or in the prescribed order. The model’s primary motive is to provide knowledge about a grief situation, thereby preparing us to cope with life and loss (Kubler-Ross & Kessler, n.d). Comparison of Kubler-Ross’s Grief model to the Book of Job In the Book of Job, the concise prologue starting the story and the concise epilogue finishing it narrates an extended series of dialogues and monologues describing the nature of and reason for suffering within the book. Most of the five stages of grief described by Kubler-Ross can be seen clearly inside this bible text. The Book of Job is the story of a faithful follower of God, Job who suffers innumerable losses one after the other. First, his wealth is looted by marauding bandits, which is followed by the tragic demise of all his children, all happening on the same day. Soon to add t o his woes, Job is badly affected with horrible boils all over his body (Book of Job 4:14-20). So much loss simultaneously would make survival difficult for any person. According to Dr. Kubler’s grief model, in the first stage, a person should be in shock and enter into some form of denial (Kubler-Ross & Kessler, n.d). However, Job in the biblical text is neither shocked nor does he enters into the denial stage which is in contrast to the grief model. After such losses, perhaps Job was in shock but he resolute by telling