Why We Need Accounting Standards Accounting Essay

Why We Need Accounting Standards Accounting Essay This essay talks about Accounting Standards which is important in financial. And it is interesting topic which discusses identified accounting standards which is important to each company. And it is analysis different things which relate with Accounting Standards as: International Accounting Standards (IAS), Accounting Standards Board (ASB), why we need accounting standards? , different accounting standards, and finally advantages and disadvantages of accounting standards Accounting Standards are authoritative statements of how particular types of transaction and other events should be reflected in financial statements and accordingly compliance with accounting standards will normally be necessary for financial statements to give a true and fair view. [Aidan, (1971)] In fact, Inflation accounting was only one part of a bigger move towards accounting standards. Standards had been proposed a few years earlier to limit the extent for judgment in the preparation of accounts. International Accounting Standards (IAS) are lay down by the international Accounting Standards Board. Now these are compulsory for all European listed companies. The US market rejects IAS without reconciliation to US GAAP. UK non-listed companies still follow UK accounting standards. [Mellett, (1995)] Accounting Standards Board The connection among the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) is one that can be increased continuously. These have same task which able to improve continuously and make rules to preparation financial reports. Financial Accounting Standards Board (FASB) is considered one branch of the financial statements. This company based in Norwalk and Connecticut and its non-profit. In financial accounting, the (FASB) has responsibility for put principles of accounting for the private sector. Why do we need accounting standards? Accounting is used in every type of business and organization from big multinational organizations to local shop, from traders and companies. It can cover an unlimited range of activities as different for example: charities, doctors, lawyers, mines, betting shops, banks, cinemas, circuses, farms, airlines, estate agents and so on. People invest in organizations of all kinds and they would all like types have faith and trust in the figures reported in their financial statements. But this variety of kind of business, and of size, means that, while general principles can be laid down, detailed regulations that it would make sense to apply to one company would be unsuitable for another company. For example; impossible to provide 100% assurance of the validity of the financial statements of every conceivable organization through the creation of a single set of rules and procedures. Accounting is very important to help the reader to arrive conclusion, and there are important set guidelines to take any thing relate to the accounting. These guidelines are called accounting policies. The intricacies of accounting policies allowed companies to change accounting principles for their benefit. This made it impossible to make comparisons. For example; Accounting Standards in India are issued by the Institute of Chartered Accountant of India (ICAI). At present there are 30 Accounting Standards issued by ICAI. Different Accounting Standards Different accounting standers are a drag on improvement in much the same way as different languages are an inconvenience. Unlike creating a world language, crating one set of standards is achievable. Apart from the possible saving for companies with different international structure, complying with an internationally understood accounting paradigm opens up a wider investment audience. [Betsy Willis and Becky Jones, 1998] Conceptual Framework The development of a coherent and consistent set of accounting principles which underpin the preparation and presentation of financial statements. First- and fundamental importance- all involved in global financial reporting must have a common mission or objective. At the heart of that mission is a conceptual framework which must focus on the investor, provide decision-useful information, and assure that capital is allocated in a manner that achieves the lowest cost in our world markets. A conceptual framework is an attempt to create a set of fundamental accounting principles which will help standard-setting. A major achievement of the search for a conceptual framework has been the emergence of the decision-making model. The essence of this is that the objective of financial statements is to provide financial information useful to a wide range of users for making economic decision. A second objective is to provide financial information for assessing the stewardship of managers. In order to be useful, this information must be relevant, reliable, comparable and understandable. Although there is general agreement on the essentials of a decision- making model, there is little consensus on which measurement model should underpin the decision-making process. Conceptual Framework [http://sqarra.wordpress.com/concept/] Advantages of Accounting Standards: Accounting standards is keeping track of transaction It be used to predict cash flow and maintain a budget and for revenue expected It has facilities for offer uniform reports to financial statement It is useful to investors and to foreign groups to evaluate the development of another investment in different companies in different countries Standards helps accountant to contact with their customers through the offer set of laws of authority to which the accountants can appeal It is use to regulate the different accounting policies and practices with a view to eliminate to the scope possible the non-comparability of financial statements Disadvantages of Accounting Standards: An unfavorable condition or circumstance. Something that places one in an unfavorable condition or circumstance. Damage or loss, especially to reputation or finances; detriment. Conclusion Accounting standards is important for any company in the world. It is help companies to know how much is loss or gain monthly and yearly. So its must be careful when do its account to be all thing correct. It is necessary to keeps a budget and revenue for the company. Also it is important in accounting standards show framework of any project the company will does such as know the objective of financial statement, Underlying assumptionsà ¢Ã¢â€š ¬Ã‚ ¦etc. Also it considers an attempt to create group of accounting principles which help to put standards.

A Picture is Worth a Thousand Words :: essays papers

A Picture is Worth a Thousand Words Photography may be a more effective and reasonably inexpensive alternative to drawing or painting, but more thought and feeling goes into a painting than a photograph. Photography is relatively simple in comparison to painting, which is a much more complex task. With photography, the composition is already completely arranged, but with a painting the objective is much more open to interpretation by the artist. The artist has the ability to capture much more emotion, understanding, and significance in an event and apply this fiery drive to his paintbrush when creating his own masterpiece. When dealing with reality, I think a photograph may represent an actual physical recollection of a person or object, but a painting created from scratch adds the reality of perception to the equation. Reality is always open to a different observation and interpretation. Artists during the Realism period concentrated on the real world as they saw it, and chose to construct their pieces of work with normal, everyday activities, therefore making it all the more real. One painter during this time period was Jean-Baptiste-Camille Corot. In his piece titled Ville d’Avray, he chooses to capture a woman in a forest-like setting. The text states Corot worked very quickly so that he could capture the â€Å"underlying rhythm of nature† to make his landscapes reveal the magic moment of truth. In my interpretation, his quick brushstrokes in light and dark values are meant to create movement; you can practically see the wind blowing through the rustling trees, gently swaying the woman’s long, flowing skirt. With his choice of colors, I can feel a slight chill from the breeze due to the haziness and dimly lit sky. If this were a photograph, the image would be less blurred, and I would see a woman, a couple of trees, and more defined colo rs. I wouldn’t feel anything from the photograph. I would just see objects. With this painting however, I interpret it to make me feel a certain way (serene and lethargic), and it provokes me to ponder as to why this woman is amongst the trees on such a blustery day. This painting allows me to reflect and speculate upon whether the artist had similar feelings while creating such a magnificent composition. Another thought-provoking painting created during the Realism period is Gustave Courbet’s Burial at Ornans.

Every Child Is Special Essay

Every Child Is Special is a Hindi drama film (Taare Zameen Par, translation: Stars On Earth) produced and directed by Aamir Khan (who also played the role of Ram Shankar Nikumbh an art teacher). It tells about a boy, Ishaan Awasthi an eight-year old whose world is filled with wonders that no one else seems to appreciate and who were always getting in trouble at school for being so misbehaving and out of focus from his lessons. Too often, he would be caught by his teacher daydreaming and getting low grades. He even cannot read nor write, for him letters and numbers are his enemy. For the people around him, Ishaan is a naughty and lazy boy because of this, his father sent him to boarding school, all alone and homesick with the hope of disciplining him, but the academic status of Ishaan did not still improve. Instead, he became withdrawn and lonely, far from the Ishaan who was active and fun-loving. Then came a new art teacher Ram Shankar Nikumbh who infects the students with joy and optimism. see more:every child is special full movie He breaks all the rules of â€Å"how things are done† by asking them to think, dream and imagine, and all the children respond with enthusiasm, all except Ishaan. But with Ram Shankar Nikumbh’s time, patience, care, and some awesome motivation he ultimately helps Ishaan find himself and change the way Ishaan would act towards school and learn to appreciate himself even more. Darsheel Safary is so perfect for the role of Ishaan Awasthi. Safary, with his innocent eyes and face, made me laugh with his funny antics and at the same time rend my heart as he goes through the agony of enduring boarding school alone and away from his parents. From start to finish, the movie gripped my attention, and the musical portions added to my fascination for that I can say that Every Child Is Special is a one heart-touching movie. This movie is an eye opener as to the worth and significance of every child. The story deals with an issue that is as real as it is unrecognized – dyslexia. The movie has increased my education about that kind of ailment. This is a kind of movie that can tug the heartstrings and at the same time bring hope that having dyslexia is not a desperate situation. Family support, patience, and love are central themes in this story, plus the primary focus on painting and art. The theory on multiple intelligences in education plays a major role in this movie and can be very informative to teachers and parents.

Heinrich Schliemann and the Discovery of Troy

According to widely published legend, the finder of the true site of Troy was Heinrich Schliemann, adventurer, speaker of 15 languages, world traveler, and gifted amateur archaeologist. In his memoirs and books, Schliemann claimed that when he was eight, his father took him on his knee and told him the story of the Iliad, the forbidden love between Helen, wife of the King of Sparta, and Paris, son of Priam of Troy, and how their elopement resulted in a war that destroyed a Late Bronze Age civilization. Did Heinrich Schliemann Really Find Troy? Schliemann did, in fact, excavate at a site that turned out to be the historic Troy; but he got his information about the site from an expert, Frank Calvert, and failed to credit him.  Schliemanns voluminous notes are full of grandiose lies and manipulations about everything that occurred in his life, in part to make his public think he was a truly remarkable man.  With a keen facility in numerous languages and a wide-ranging memory and hunger and respect for scholarly knowledge, Schliemann, in fact, was a truly remarkable man! But for some reason, he needed to inflate his role and importance in the world.   That story, said Schliemann, awoke in him a hunger to search for the archaeological proof of the existence of Troy and Tiryns and Mycenae. In fact, he was so hungry that he went into business to make his fortune so he could afford the search. And after much consideration and study and investigation, on his own, he found the original site of Troy, at Hisarlik, a tell in Turkey. Romantic Baloney The reality, according to David Traills 1995 biography, Schliemann of Troy: Treasure and Deceit, and bolstered by Susan Heuck Allens 1999 work Finding the Walls of Troy: Frank Calvert and Heinrich Schliemann, is that most of this is romantic baloney, manufactured by Schliemann for the sake of his own image, ego, and public persona.  Ã‚   Schliemann was a brilliant, gregarious, enormously talented, and extremely restless con man, who nevertheless changed the course of archaeology. His focused interest in the sites and events of the Iliad created widespread belief in their physical reality—and in so doing, made many people search for the real pieces of the worlds ancient writings. It could be argued that he was among the earliest and most successful of public archaeologists During Schliemanns peripatetic travels around the world (he visited the Netherlands, Russia, England, France, Mexico, America, Greece, Egypt, Italy, India, Singapore, Hong Kong, China, Japan, all before he was 45), he took trips to ancient monuments, stopped at universities to take classes and attend lectures in comparative literature and language, wrote thousands of pages of diaries and travelogues, and made friends and enemies all over the world. How he afforded such traveling may be attributed to either his business acumen or his penchant for fraud; probably a bit of both. Schliemann and Archaeology The fact is, Schliemann did not take up archaeology or serious investigations for Troy until 1868, at the age of 46. There is no doubt that before that Schliemann had been interested in archaeology, particularly the history of the Trojan War, but it had always been subsidiary to his interest in languages and literature. But in June of 1868, Schliemann spent three days at the excavations at Pompeii directed by the archaeologist Giuseppe Fiorelli. The next month, he visited Mount Aetos, considered then the site of the palace of Odysseus, and there Schliemann dug his first excavation pit. In that pit, or perhaps purchased locally, Schliemann obtained either 5 or 20 small vases containing cremated remains. The fuzziness is a deliberate obfuscation on Schliemanns part, not the first nor the last time that Schliemann would fudge the details in his diaries, or their published form. Three Candidates for Troy At the time that Schliemanns interest was stirred by archaeology and Homer, there were three candidates for the location of Homers Troy. The popular choice of the day was Bunarbashi (also spelled Pinarbasi) and the accompanying acropolis of Balli-Dagh; Hisarlik was favored by the ancient writers and a small minority of scholars; and Alexandria Troas, since determined to be too recent to be Homeric Troy, was a distant third. Schliemann excavated at Bunarbashi during the summer of 1868 and visited other sites in Turkey including Hisarlik, apparently unaware of the standing of Hisarlik until at the end of the summer he dropped in on the archaeologist Frank Calvert. Calvert, a member of the British diplomatic corps in Turkey and part-time archaeologist, was among the decided minority among scholars; he believed that Hisarlik was the site of Homeric Troy, but had had difficulty convincing the British Museum to support his excavations. Calvert and Schliemann In 1865, Calvert had excavated trenches into Hisarlik and found enough evidence to convince himself that he had found the correct site. In August of 1868, Calvert invited Schliemann to dinner and to see his collection, and at that dinner, he recognized that Schliemann had the money and chutzpah to get the additional funding and permits to dig at Hisarlik that Calvert could not. Calvert spilled his guts to Schliemann about what he had found, beginning a partnership he would soon learn to regret. Schliemann returned to Paris in the fall of 1868 and spent six months becoming an expert on Troy and Mycenae, writing a book of his recent travels, and writing numerous letters to Calvert, asking him where he thought the best place to dig might be, and what sort of equipment he might need to excavate at Hisarlik. In 1870 Schliemann began excavations at Hisarlik, under the permit Frank Calvert had obtained for him, and with members of Calverts crew. But never, in any of Schliemanns writings, did he ever admit that Calvert did anything more than agree with Schliemanns theories of the location of Homers Troy, born that day when his father sat him on his knee. Uncovering Schliemann Schliemanns version of events—that he alone had identified Troys locaiton—stood intact for decades after his death in 1890. Ironically, the celebration of Schliemanns 150th birthday in 1972 touched off a critical examination of his life and discoveries. There had been other murmurs of irregularities in his voluminous diaries—novelist Emil Ludwigs meticulously researched Schliemann: The Story of a Gold Seeker in 1948, for example—but they had been scorned by Schliemanns family and the scholarly community. But when at the 1972 meetings American classicist William M. Calder III announced that he had found discrepancies in his autobiography, others began to dig a little deeper. Just how many self-aggrandizing lies and manipulations are in the Schliemann diaries has been the focus of much discussion throughout the turn of the 21st century, between Schliemann detractors and (somewhat grudging) champions. One defender is Stefanie A.H. Kennell, who from 2000–2003 was an archivist fellow for the Schliemann papers at the Gennadius Library of the American School of Classical Studies. Kennell argues that Schliemann was not simply a liar and a con man, but rather an extraordinarily talented yet flawed man. Classicist Donald F. Easton, also a supporter, described his writings as a characteristic blend of one-third dissimulation, one-third arrogant rhetoric, and one-third obsequiousness, and Schliemann as a flawed human being, sometimes confused, sometimes mistaken, dishonest... who, despite his faults... [left] a lasting legacy of information and enthusiasm.   One thing is crystal clear about the debate over Schliemanns qualities: now the efforts and scholarship of Frank Calvert, who did, in fact, know that Hisalik was Troy, who conducted scholarly investigations there five years before Schliemann, and who, perhaps foolishly, turned over his excavations to Schliemann, does today due credit for the first serious discovery of Troy.   Sources Allen, Susan Heuck. Finding the Walls of Troy: Frank Calvert, Excavator. American Journal of Archaeology 99.3 (1995): 379–407. Print.---. Finding the Walls of Troy: Frank Calvert and Heinrich Schliemann at Hisarlik. Berkeley: University of California Press, 1999. Print.---. A Personal Sacrifice in the Interest of Science: Calvert, Schliemann, and the Troy Treasures. The Classical World 91.5 (1998): 345–54. Print.Bloedow, Edmund F. Heinrich Schliemann in Italy in 1868: Tourist or Archaeologist? Quaderni Urbinati di Cultura Classica 69.3 (2001): 115–29. Print.Calder III, William M. Heinrich Schliemann: An Unpublished Latin Vita. The Classical World 67.5 (1974): 272–82. Print.Easton, D. F. Heinrich Schliemann: Hero or Fraud? The Classical World 91.5 (1998): 335–43. Print.Kennell, Stefanie A. H. Schliemann and His Papers: A Tale from the Gennadeion Archives.  Hesperia 76.4 (2007): 785–817. Print.Maurer, Kathrin. Archeology as Spectacle: Heinric h Schliemanns Media of Excavation. German Studies Review 32.2 (2009): 303–17. Print.Schindler, Wolfgang. An Archaeologist on the Schliemann Controversy. Illinois Classical Studies 17.1 (1992): 135–51. Print.Traill, David A. Schliemann of Troy: Treasure and Deceit. New York: St. Martins Press, 1995. Print.