The Effects Of Resistance On Children s Life - 1921 Words

Resistance is defined as the refusal to accept or comply with something. Being the person I am, I tend to not be accepting of anything that goes against my morals, beliefs, and life style. When I got married my husband’s was raised so differently from me, we had been raised in two different worlds and it caused me to slowly become more open to others. When we decided to become foster parents and mentors of adolescents it seemed that as if the worlds we grew up in came together to make an impact. The way my kids were raised it tested my patients and compassion and in a sense began to harden my heart. As we come across different personalities and different home situations, most of the adolescents we encounter, including our foster†¦show more content†¦Their mission statement is to facilitate and promote the building of resilient children, healthy families, and strong neighborhoods communities through collaboration, programming, and resource development. The reason for my psychology degree is for me to understand the human mind and behavior so I can help build resilient teens. My husband and I formed a basketball program with the intent to teach and develop life skills, relationship with Christ and family unity. My focus has always been the adolescent because it has always been easier to access them, but through my practicum, I have learned that improved parenting is the most important goal of child abuse prevention (Barth). Granted, I know there are cases where adolescents are overly defiant no matter what but researchers have identified five common co- occurring issues for reasons parents maltreat their children—parental substance abuse, parental mental illness, domestic violence, child conduct problems, and family poverty (Barth 96). I often encounter families with parental substance abuse and family poverty. Often we don’t understand what we don’t experience, it is easy to judge and expect a parent to place a child as the main priority. Caregiver who abuse substance may place a higher priority on their drug use than on caring for their children’s needs†¦ (Barth). Working on my practicum and doing research I learned thatShow MoreRelatedEducating Children With A Disability1234 Words   |  5 Pages Children come to this world without the parents knowing what the child may be born with but as a family we give love and care for all of our children. â€Å"Special disability â€Å"shouldn’t be a category to children who were born with a disability they were born into this world they are no different from you and I. Some parents believe that when their children graduate high school life is over for their amazing children .These parents are blocking or either ignorant to look for opportunitiesRead MoreLiving A Wonderful Life : A Life Full Of Friends And Loving Relationships1666 Words   |  7 Pagesliving a wonderful life. A life full of friends and loving relati onships. A healthy life. Celebrating holidays with friends and families and finally starting to fall in love with the person might†. Then all of a sudden your wonderful life comes to a screeching halt when you go to the doctor and is diagnosed with HIV, a fatal disease with no cure. You’re now faced with countless decisions such as whether or not you want to be heavily medicated. More medications could lead to a longer life, but also oneRead MoreWhy Is Cloning? Living A Wonderful Life?1668 Words   |  7 Pagesliving a wonderful life. A life full of friends and loving relationships. A healthy life. 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The only alternative is to fit him by education for civilized life† (as cited inRead MoreEssay on Streptococcus Pneumoniae1013 Words   |  5 PagesIn accordance with the World Health Organization, pneumonia still remains one of the main killers of children under the age of five, taking more than 1.1 million lives of boys and girls annually (WHO Pneumonia factsheet, 2013). Pneumonia is more prevalent in South Asia and sub-Saharan Africa. It is well known that pneumonia is a disease of respiratory system that affects the alveoli, which are the constituent part of the lungs. Normally alveoli fill with air during the breath of a healthy personRead MoreDrug Use And Illegal Drugs1025 Words   |  5 Pagesquestion could be the D.A.R.E. program. Although the D.A.R.E. program did not have a giant success in the past years, could the program come back and prove itself successful and useful? 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The Film, Rhymes For Young Ghouls - 1468 Words

In the film, Rhymes for Young Ghouls, Mi’gmaq filmmaker Jeff Barnaby uses film syntax (mise-en- scà ¨ne, montages, diachronic shots, synchronic shots, and cutting) to assist him in telling a tale about the historical violence done to Indigenous men, women, and children by the Canadian government and the residential school system (Boo 220). The purpose of the film Rhymes for Young Ghouls is to bring awareness to a wider audience who may or may not be aware of the violence inflicted on Indigenous people, violence that was sanctioned by the Canadian legislation and state (Boo 211). In the film, Barnaby illustrates how non-Indigenous men were not concerned with gender when beating an Indigenous person; women were beaten the same as men were. In†¦show more content†¦Dymphna’s. After being set free, Aila and her friends steal Popper’s money. They free Joseph, whom Popper took into custody (Carleton). Popper finds Joseph and Aila, interrupting Joseph telling Aila about how residential school damaged her mom, he knocks Joseph unconscious with his rifle, then beats Aila and tries to rape her. Popper is interrupted by a young boy and shot with his own rifle. Joseph takes responsibility for Popper’s death, saving Aila and the boy from prosecution, giving them a chance for freedom (Carleton). In his film, Barnaby uses a diachronic shot and a synchronic shot to depict how there was no gender discrimination when it came to inflicting violence on an Indigenous body. For instance, a sequence of cut shots begins with a medium shot of Aila peacefully riding down a dirt road. Where all of a sudden, a long shot shows one of Aila’s friend is running from someone (Barnaby). The shot changes to a medium shot of him yelling for Aila to run; the shot becomes a close-up of Aila from the shoulders up, she faces forward and out of nowhere a white man sucker punches Aila. The shot changes to a medium shot, showing her fall to the ground and the man walks back to her and tells her to give her friend a message. The camera view becomes a synchronic shot to give the audience a view of what Aila sees as the man stomps on her face, knocking her unconscious (Barnaby). From beginning to end of the diachronic shots, the audience is set up toShow MoreRelatedRhymes For Young Ghouls And Chris Eyres Smoke Signals Analysis1596 Words   |  7 PagesWith their contemporary representation of indigenous people and the issues they face today, Jeff Barnaby’s Rhymes for Young Ghouls and Chris Eyre’s Smoke Signals are films that try to fracture the stereotypical Indian image that has persisted since the beginning of the Hollywood industry. Written and directed by Native American filmmakers, both stories comment on the condition of indigenous people in and outside the United States by confronting topics on poverty, death, drugs, alcoholism, and parent

Impace of AASB on Australian Firms-Free-Samples for Students

Questions: 1.You are to report on the Processes used to make changes to Australian Accounting Standards. 2.Write a report as if you were responding to the Call for Comment. Answers: Introduction An accounting standard is a basis of accounting that applies to various transactions and events of accounting. All the organisations are expected to prepare their financial statements on the basis of these standards. If there is any change in the methods, then proper disclosure must be given by the company. The framing body that frames these standards has to apply a lot of rational thinking before framing them. The standards must be easy to understand, price and clear. It is important that the members of the board of AASB, that is part of the framing comity, takes into consideration all the people who depend on these standards and policies to show the true state of business affairs. While in the process of formulation of the accounting standards the Australian stakeholder can also suggest the board regarding some technical issue that they face and the board can comment on the same. After the issue is identified, a project proposal will be designed which will cover all the important p oints relating to the project. The overall benefits, the total cost consideration and what affect it will have on the organisations. (Abbott Kantor, 2017). 1.One of the most important functions of the AASB is the preparation and presentation of the accounting standards. This standard setting process is a technical process and a lot has to be considered before the formation of particular standard. The process starts with identification of technical issue that may be there in the accounting process. The International Accounting Standards Board (IASB) or the IFRS Interpretations Committee (IFRIC) identifies it. Since January 1, 2005, the Australian government has adopted IFRS, therefore all the issues that were part of the IASB or the IFRIC committee were also a part of the AASB. The International Public Sector Accounting Standards Board (IPSASB) also identified the issues. The main work of the AASB is to monitor the work of the (IPSASB), and take its decision based on the same. It undertakes works on particular topics and then comment on the same(Chariri, 2017). The Australian stakeholder can also suggest the board regarding some technical issue that they face and the board can comment on the same. After the issue is identified, a project proposal will be designed which will cover all the important points relating to the project. The overall benefits, the total cost considerati on and what affect it will have on the organisations. After considering all the factors, it will be decided whether to carry forward the project. If the project is considered it will be added to the agenda, once the agenda is considered the AASB will look into the specific details of the matter based on the reports submitted by the members of the board. Relevant materials may be taken from the other standard setting board like the IASB, the IPSASB and the New Zealand Accounting Standards Board, or from other organisations. After the research is completed, proper consultation is taken from the stakeholders. All the necessary public documents related to the project like the exposure draft that is a draft on the proposed standard, invitation to comment, draft interpretations and discussion papers are made available to the public and the stakeholders to give their comment on the same. The AASB may choose to issue international document in Australia in line with the standards that they are considering for framework. The other ways to getting proper opinion for the proposed standards is by Roundtable discussions, Project Advisory Panels, Interpretation Advisory Panels etc(Abbott Kantor, 2017). After considering all the opinions, the board may decide to issue the pronouncement either in the form of document, or an announcement. When it comes to standards for the profitable organisations, they must be in line with the international standards that are issued by the international bodies like the IFRS. It is to make sure that the standards that are issued by the AASB must be in line with the IFRS. In case of AASB, it follows a neutrality policy, where transaction whether it belong to a public company or private company, it must follow the same basis of accounting. It does not matter whether it is a profit oriented industry or a non-profit industry. After the formation of the draft, it is submitted to the international organisations after taking into considerations all the inputs and feedbacks that it received from various sources. After finalisation, the board looks after the proper implementation of the proposed standards and makes sure that all the companies on which it is ap plicable follows the same to the best of their ability, with proper disclosure(Guragai, Hunt, Neri, Taylor, 2017). While making changes to the existing standards, the board considers any kind of technical issues that the companies or the stakeholders are facing. After doing proper research into the matter and taking knowledge about the same in conformity with the other international standards, the board will follow the e same method of preparation and presentation of the draft, and then implement the same and monitor the results. This is the standards procedure for formation of the standards and for making any changes to the exsisting standards. The main point is that all the standards that the AASB develops are in line with the international standards that are framed by the international organisations. All the changes that the board proposes in the relevant standards are given out in the media news with all the necessary details. Details about the same can be ascertained on the of ficial site of the company(Drew Grant, 2017). While developing these standards it is important that the board must consider the local domestic issues that the companies in Australia faces because of any technical issues. It is important that the same must be considered while formation of the standards. The boards ask for feedbacks from various stakeholders and corporate on the proposed draft that is related to any standard in various ways. It releases exposure draft on which the public can give their feedback; it also arranges panel discussions, in house discussions, to get the opinion of the people who might be affected by the decision of the standard(Maynard, 2017). After taking all the feedback that is necessary the board incorporates the same, that is feel is relevant in the proposes draft and then finalises the same. The companies have the option to make proposals to the board in cases where they might find any technical issues and ask the board to provide a solution on the same. While formation of the standard the board co nsiders all these recommendations that are given by the companies in its board report. The domestic body prepares the standard that is in line the international financial reporting standards but are not copied. They are amended to suit the needs of the local companies so that the essence of accounting is maintained. The only changes are there that is present is in the execution of the method, the method always remains the same. Like in the case of AASB 136, the board has issued specific rules for non-profit and profit organisations to suit the needs of the local companies(Bond, Govendir, Wells, 2016). Thus, there are many ways by which the Australian board can consider the demands and the needs of the local bodies to suit their compliances with the accounting standards. The demands of the domestic companies must be taken into consideration. These standards are based on the international standards but are amended as per the domestic companies. This is the main basis of formation of the domestic standards on basis of the international counterparts and how they affect the domestic companies is in the hands of the forming bodies that are responsible for setting up these standards as per the needs of the company(Birt, Muthusamy, Bir, 2017). 2.Introduction The ED 116 is issued for the recognition of the property plant and equipment of the company. It gives basis to the relevance of fir value in accounting and measurement. As per the AASB consideration, if the companies adopt this method for valuation of their plant property and equipment, they will have more benefits and the overall cost will reduce. After considering all the points that the board laid down in the matter of adoption of these policies, it can be stated that adoption of fair value analysis is better because it is more financially viable then recognition based on historical data. The rules have been set out for the profit and the non-profit organisation. It is said that the in case of revaluation of any class of asset, the net revaluation shall be recognised under the heading of revaluation surplus. It has also been laid down that if the companies are acquiring any asset at cost the company shall recognise less than the fair value, then the extra amount as surplus. The ma in point to be considered is that the company should recognise all the fixed assets at the fair value so that the accounting transactions and records are more viable. As a critic, if a comment is to be given on the proposed draft of the board, it can be said that the change is very effective and will help in improving transparency in the business, if fair value approach is followed. Previously while recognising fixed assets and calculating depreciation, historical costs were considered which often led to under or over valuation of the assets of the company. Moreover the propend exposure is in line with the international standards that have been framed in this regard this lends a uniformity to the overall transaction and the business of the company much more viable when it comes to international terms. The disclosure policies under this standard are also very simple, with importance given to recognition of the cost-carrying model along with the fair value recognition. However, the sa me does not apply to the non-profit companies. The board can made specific changes in the proposed standard for non-profit and profit generating organisations of the country(Minnis Sutherland, 2017). Analysis If we see closely the main points that have been stated by the board for the adoption and modification of the new standard is that previously the revenue-based models that were used by the companies for calculation of the net depreciation is not correct. This is because when the revenue-based model is used, the depreciation calculated does not show reduction in the economic benefit of the asset, because many other points are also taken into consideration. Hence, it does not provide a very clear picture. It is thus considered that fair value approach must be followed for recognition of the assets and the calculation of depreciation. It is a very good step that the board has proposed specific changes, that are applicable to the profit and the non-profit generation companies, based on their functioning(Drew Grant, 2017). With changes in the method of calculation and recognition of the asset, the large number of companies over the world will also be affected. The industries like minning and petroleum and mostly that are based on manufacturing, will be affected. As previously there were many different methods to calculate the total csost of manufacture and record the same, so companies who were not in this field found it difficult to analyse.These standards are proposed keeping in view establishing uniformity between the various accounting policies and assumptions of the countries around the world. The manufacturing sector is the biggest sector that uses these plants and equipments for manufacture of products. Changes in the method of depreciation and to recognise them at their fair value will affect the overall financials of the company. Now since recognition will be at fair value, it will help in improving the overall profitability of the company, as it will help in improving the overall transparency . Correct value of depreciation without considering the various other factors just on the basis of the economic value of the asset, will help in improving the overall profitability of the company, as les depreciation will mean more profit but the companies will have to pay more taxes, this is a drawback for the company. However, for the government it will be beneficial to adopt such methods. Conclusion The need of a "one size fits all" approach in relation to the various other international standards framing body is more or less important and in the long run much more viable. If the independent board forms their won standard that is different from the international bodies, it will not lead to uniformity between the accounting standards within different countries. If the basis is the same, with some modification as per the requirements, it will help in inter firm and intra firm comparison between the countries and help the companies to judge the effectiveness and their standing in the international world. In case the need arises that, the domestic companies are facing many issues because of the international standards or the technicalities are too much, then the domestic board can make changes but that should be in line with the international standards. There are many advantages of uniformity, as it will help in maintaining the same accounting language all over. In the end, when the domestic companies will start expanding their business it will be helpful. The preparation and presentations of the books of accounts become much easier. It will help them to be in par with their foreign counterparts in different parts of the world. It also helps in making international comparisons, and the foreign investors find it easy to invest in such companies that prepare their books in line with the international standards.Thus the major recommendatiosn will be that all the domestic bodies should thus take proper advice from all the stakeholders and prepare their standards keeping in mind the need of the hour and in order to provide the best solution to any proposed problem. They might modify when the need arises but the base should be the same. It must not deviate from the essence of accounting that is proposed by these international standards(Abbott Kantor, 2017). After the entire analysis, we can say that formation of accounting standards should be such that it helps in reflecting the true state of affair of the company and reflects the overall financial viability of the company. It is a long process that the board undertakes to form the standards that must comply with the international rules and be in favour of the domestic companies. However, adoption of the IFRS is very important because in the end it will help in improving the standard of comparison between the various international companies. Companies will have a basis that will help them in analysing their work in relation to their international counterparts. Overall, the adoption of the international standards for formation of domestic standards is a very good approach and will be very helpful in the end. It will help in establishing a single accounting language all over the world(Malone, Tarca, Wee, 2016). References Abbott, M., Kantor, A. (2017). Fair Value Measurement and Mandated Accounting Changes: The Case of the Victorian Rail Track Corporation. Australian accounting Review . Birt, J., Muthusamy, K., Bir, P. (2017). "XBRL and the qualitative characteristics of useful financial information". Accounting Research Journal , 30 (1), 107-126. Bond, D., Govendir, B., Wells, P. (2016). An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136. Accounting and Finance , 56 (1), 259-288. Chariri, A. (2017). FINANCIAL REPORTING PRACTICE AS A RITUAL: UNDERSTANDING ACCOUNTING WITHIN INSTITUTIONAL FRAMEWORK. Journal of Economics, Business and Accountancy , 14 (1). Drew, J., Grant, B. (2017). Introduction to Australian Local Government Economics and Finance. Australia: Local Government in Australia. Guragai, B., Hunt, N., Neri, M., Taylor, E. (2017). Accounting Information Systems and Ethics Research: Review, Synthesis, and the Future. Journal of Information Systems: Summer 2017 , 31 (2), 65-81. Malone, L., Tarca, A., Wee, M. (2016). IFRS non-GAAP earnings disclosures and fair value measurement. Accounting and Finance/ , 56 (1), 59-97. Maynard, J. (2017). Financial accounting reporting and analysis (second ed.). United Kingdom: Oxford University Press. Minnis, M., Sutherland, A. (2017). Financial Statements as Monitoring Mechanism: Evidence from small Commercial loans. Journal Of Accounting Research , 55 (1), 197-233. Smith, M. (2017). Research Methods in Accounting (FOURTH ed.). London: SAGE PUBLICATIONS

Aes Case Solution Essay Example

Aes Case Solution Paper 1. How would you evaluate the capital budgeting method used historically by AES? What’s good and bad about it? â€Å"When AES undertook primarily domestic contract generation projects where the risk of changes to input and output prices was minimal, a project finance framework was employed. † Usually, project finance framework is used when the project has predictable cash flows, which can easily represent operating targets through explicit contract. When cash flows are certainty, the company can have higher level of leverage and it is easier to separate project assets from the parent company. Advantages and Disadvantages: ) Advantages a. Maximize Leverage b. Off-Balance Sheet Treatment c. Agency Cost d. Multilateral Financial Institutions 2) Disadvantages a. Projects V/S Division b. Complexity c. Macroeconomic Risk d. Political Risk: 2. If Venerus implements the suggested methodology, what would be the range of discount rates that AES would use around the world? If Vene rus and AES implement the suggested methodology, the projects would change while WACC changes. To find WACC we must first calculate the leveraged bets for each the US Red Oak and Lal Plr Pakistan projects, using the equation unleveled beta/(1-D/V). It is easy to find debt to capital ratios, which are 39. 5% for U. S and 35. 1% for Pakistan, and the unleveled beta, which are both 0. 25, in Exhibit 7a and 7b. Then we can obtain a leveraged beta for the U. S. , 0. 41, and for Pakistan, 0. 3852. Second we should find the risk free and risk premium rates. Because all debts are finance in U. S. dollar, we use the risk free rate, which is equal to U. S. T-bill, and risk premium rate, which is equal to U. S. risk premium, to calculate the cost of capital for all countries. Using equation cost of capital = Risk Free Rate + levered beta * Risk Premium, we can get the cost of capital for U. S. project, 7. 27%, and for Pakistan project, 7. 2%. After that we should find the cost of debt. Using the formula risk free rate + default spread, we can get the cost of debt for both U. S. project and Pakistan project are 8. 07% (4. 5%+3. 47%), in which both U. S. project and Pakistan project have a same spread, 3. 47%. To adjust we add the sovereign risk into calculation. In Exhibit 7a, the sovereign risk for the U. S. is 0% but for Pakistan is 9. 9%. We will write a custom essay sample on Aes Case Solution specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Aes Case Solution specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Aes Case Solution specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We thereby get the new evaluation of the cost of capital and cost of debt, which are constant for U. S. and rise to 17. 1% and 17. 97% for Pakistan. Finally we calculate the WACC. The formula is leveraged beta * (cost of capital) + Debt to capital * (cost of debt) * (1-tax rate). Then we get for the U. S. WACC= 6. 48% and for Pakistan WACC= 15. 93%. Finally, we should adjust the WACC with its risk score. Because everything is calculated in U. S. dollar, the U. S. risk score is 0. So the U. S. projects WACC is constant. The Pakistan risk premium is 1. 425. So the change is 1. 25 * 500= 705bp = 7. 05%. Therefore, we get the final Pakistan WACC, which is 23. 08% (15. 93%+7. 05%). In conclusion, the difference between the U. S. and Pakistan projects is 16. 60%. Obviously, the U. S. project looks much more favorable. 3. Does this make sense as a way to do capital budgeting? The financial strategy employed by AES was historically based on project finance. The model worked well in the domes tic market and in the international operations. However, when AES started its diversification of business, it had to face to increasing symmetrical risks, such as business risk. In addition, project finance did not include the risk of devaluation of currency in developing economies which resulted in significant losses due to the inability of the company to survive its international debt obligations. And AES should also pay attention to political risk. Hence we see that the geographical diversification of business made project financing less recommendable as a symmetrical risk becomes more manifest. 4. What is the value of the Pakistan project using the cost of capital derived from the new methodology? If this project was located in the U. S. what would its value be? In order to calculate the value of project for the Lal Pir project in Pakistan, we first need to calculate the Weighted Average Cost of Capital (WACC) using the new proposed methodology. The first step is to calculate the value of levered ?. The value of the levered ? comes out to be 38. 52%, which essentially means that our project is not very highly correlated to the market return. Using this v alue of ? we now calculate the cost of Equity. We have used the return on U. S. Treasury Bond, which is 4. 5%, as the risk free return. The cost of equity comes out to be 7. % and similarly, using the risk free return and the default spread we calculate the cost of debt which comes out to be 8. 07%. It is important to note that the cost of debt and the cost of equity also need to be adjusted for the sovereign spread. Once we have the adjusted costs of equity and capital, the WACC comes out to be 15. 93%. However, now we need to adjust this WACC for the risks associated with doing the project in Pakistan. As mentioned in part 2, we get final WACC 23. 08%, which lead us to calculate NPV from the year 2004 to 2023. And it is -$234. 34 million. For U. S. , first we see the sovereign spread is equal to zero. Secondly, in this case we would need to calculate the business risk using the information given in Exhibit 7a. This score comes out to be 0. 64 and using this score, our business risk comes out to be 3. 23% and adding it to calculated value of WACC, we get our final WACC of 9. 64%. Using this we calculate our NPV for USA which comes out to be -$35. 92 million. 5. How does the adjusted cost of capital for the Pakistan project reflect the probabilities of real events? What does the discount rate adjustment imply about expectations for the project because it is located in Pakistan and not the U. S.? To calculate the adjusted cost of capital, we should adjust six common types of risks: Operational, Counterparty, Regulatory, Construction, Commodity, Currency and Legal. In Pakistan, it is possible to meet all these risks except construction. Additionally, the highest probability is the legal risk. When we calculate the WACC for Pakistan through traditional formula it comes out to be 15. 93%, however in order to incorporate the risk factor associated with Pakistan we need to adjust it for the Total Risk Score, which in this case is 1. 425. So we need to adjust our WACC 23. 08%. As mentioned earlier the discount rate is adjusted based on the total risk score of the country. This total risk score is compiled from 6 main types of risks, the probability of which varies from country to country. While currency, regulatory and legal risks are significantly high in Pakistan, the operational, counterparty and commodity risks are higher in U. S.. Similarly when come to the adjusted WACC for Pakistan (23. 08%) and WACC for U. S. (6. 48%), we can conclude that Pakistan is much riskier to invest than the U. S..