Summary of Literature Review on Dividends free essay sample

A survey of Theories and Empirical Evidence. In this article, the fundamental hypotheses on profit strategy are depicted and their believability is assessed. Association between the audited paper and my examination proposition According to my exploration proposition, the ace theory point will be â€Å"Comparative investigation of companies’ profit strategy: universal perspective†. Along these lines, the writing audit on profit strategy has an immediate association with my examination proposition. There are a few factors that clarify this association. Most importantly, any ace postulation needs to begin with a writing survey of existing investigations in the examined zone and these current examinations are introduced in the paper. This implies the speculations talked about in the paper will be portrayed in my lord theory. This paper guides my consideration toward the primary existing hypotheses. Therefore, I know which hypotheses I should research to a more prominent profundity to accomplish a decent comprehension of the considered field. We will compose a custom paper test on Outline of Literature Review on Dividends or on the other hand any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Furthermore, in this paper the speculations are introduced in a composed way and are obviously clarified. Along these lines, perusing this paper causes me to acquire a general comprehension of the speculations on profit strategy. Obviously, additional examination will be required on every hypothesis except, as I would like to think, a general and disentangled comprehension of a subject before considering it to a more noteworthy profundity is consistently a bit of leeway. Thirdly, the references list toward the finish of the paper shows which writing might be tended to while exploring the profit strategy to a more prominent profundity. By and large, this paper is a brilliant establishment for my lord theory work. Division of works looked into classifications The works referenced in the article all location (completely or mostly) the profit strategy and profits. I propose the accompanying order of these works. Works that give the meaning of profit strategy †just one work is introduced in this gathering. a) Lease, Ronald C. , Kose John, Avner Kalay, Uri Loewenstein, and Oded H. Sarig, 2000. Profit Policy: Its Impact on Firm Value (Harvard Business School Press, Boston, Massachusttes). As per this work, profit strategy is â€Å"the practice that administration follows in settling on profit payout choices or, at the end of the day, the size and example of money dispersions after some time to shareholders†. As I would see it, the creators of the writing survey ought to have introduced a few meanings of profit strategy.

The Dangers of Dengue Fever and How to Keep You

A generally excellent morning to the head, educators and individual companions. I am Samuel Lim, the leader of the English Club and it is my respect to have the option to remain before everybody to give a discourse on ‘The Dangers of Dengue Fever and How to Keep You Compound Dengue Free’. Dengue is the most widely recognized viral disease around the globe brought about by a little mosquito. Deplorably, it can prompt genuine clinical issues like dengue. To make the image more clear, dengue fever isn't brought about by each mosquito. Indeed, it is brought about by the Aedes aegypti mosquito which conveys a destructive infection. A contaminated individual may have a high possibility of growing high fever, rashes, feel queasiness and experience muscle and joint agonies. It is a serious issue when an individual gets contaminated as the side effects may last between six to seven days. To exacerbate the situation, it might get lethal and cost you your life. All the time, a contaminated individual is conceded into the emergency clinic for guaranteed clinical treatment. As the expression goes, ‘Prevention Is Better than Cure’, dengue can be forestalled in your neighborhood just by following a couple of straightforward insurances. On the exceptionally top of the rundown, ensure that the vases in your nursery or compound don't contain stale water. Mosquitoes breed in stale water in simply an issue of three weeks. The following thing to focus on is to clear stopped up channels and downpour canals in your homes. Make sure to flip around void pots and buckets with the goal that they don't gather water for these small vectors to raise. Another significant advance is to check your compound to ensure that there is no stale water. To wrap things up, trim tall plants every now and again and guarantee that dead leaves and branches are cleared. These can likewise become potential rearing justification for Aedes mosquitoes. More or less, dengue is a risky infection which can deny you of your life however can be effortlessly forestalled by following a couple of basic advances. I trust that the data I have imparted to everybody today can lessen.

Physics in the MIT

Physics in the MIT Today I neglected to bring a jacket to class. As the afternoon waned impassively toward night, the last hanging breaths of August condensed into soupy grey cold specked with watery yellow sunstreaks. By conservative estimates, I caught six different strains of flu on the way home at 6:30 pm. Nonetheless, after a quick homemade dinner of soba, ginger, almonds, and dewy-fresh vegetables from MITs weekly farmers market, I barely noticed the initial symptoms of tuberculosis. On the flip side of the burger (to coin a stupid-sounding idiom), I no longer have an excuse for putting off this blog entry until T_n, where T_n 5 minutes from now. A week or so ago, Becky from somewhere-recently-visited-by-Quentin-McArthur emailed me a laundry list of excellent questions that I could answer in less time than most questions I encounter on an hourly basis. I started to write back, “Thanks, Becky! Its so nice to make human communication once in a while! See you on the Internet sometime,” and then I figured that she probably wanted me to answer her questions instead of becoming her Facebook buddy. (Curmudgeonly aside: Its a sad, sad world when I get more Facebook friend requests than personal emails. Also, you kids get off my lawn.) Hi Yan When Quinton McArthur came to our school the other day, I asked him a question about the physics department at MIT, and he directed me to you. I actually have more than one question, but theyre roughly in order of importance if you dont have time to answer them all. Its 12:50 AM! Of course I have time. Questions: 1. UROP seems like it would allow you to do awesome research as an undergrad. Has this been your experience? Is there anything about physics UROPs that make them different? Are experimental and theoretical research opportunities both available to undergrads? How do students make time for research during the academic year, or do most students do UROPs during the summer? UROP, MITs undergrad research program, has improved my overall standard of living as well as my GDP and average lifespan. My first research group in the Materials Science department paid 11 bucks an hour, which was increased to $12/hour over the summer, for me to build and test batteries that wouldnt explode or melt or otherwise make a huge, expensive mess and ruin everyones life. I eventually started running out of work to do after one semester, so I adopted a second UROP in the Plasma and Fusion Center writing scripts to decipher NASA spacecraft data and explain the mysterious phenomenon of magnetic reconnection. After one month, I started to think in MATLAB instead of in English, but it was nonetheless an enjoyable introduction to physics research. UROPs are more common during IAP and Summer, but plenty of people (like me) devote up to 6 hours per week to research, usually after class on weekdays. Think of it as like taking half a class while getting paid. Its a valuable way to learn relevant skills for your field while getting rich at a very, very slow rate. All professors in the Physics department that Ive met so far have been open to sponsoring undergrad research. At least one requires that his students take 8.04 (quantum) before doing research in his group. However, most labs, experimental and theoretical, could always use the extra help with coding and performing routine tasks traditionally reserved for intelligent primates and large, powerful computers. (Well, maybe not the string theorists. Or LIGO, since LIGO was crowded with UROPs last time I applied for one in their group.) You might not get an intellectually dazzling UROP during your first years at MIT, but its well worth the experience. 2. In a blog post from December, 2007, Lulu wrote that around 13/50 of physics majors (just for course 8, not 8-B) are women. Do you think this estimate is accurate? Do you notice this imbalance at all? Does it not matter because the overall Institute gender numbers are essentially equal? Does it not matter just because it doesnt matter whether the people youre doing physics with are girls or guys? Have you had any gender-related problems (academic or otherwise) as a physics major specifically? Gender imbalance has never influenced my experience at MIT. Im a bit startled by your (Lulus?) numbers, since at least half of the Physics majors Ive met are women. Granted, I spend a lot of time around Undergraduate Women in Physics, which is perhaps not a representative sample of the gender distribution. Then again, the mere existence of a group at MIT dedicated to providing support for female physicists suggests that your speculations are valid. Ive also heard from professors that more men tend to take the advanced versions of intro Physics classes, such as 8.022. However, personal evidence shows that more women tend to wake up in time for lecture. (At least when McGreevy taught it.) 3. I remember at least Chris S. blogging about how his biology psets and tests test more his ability to think and solve problems than his memorization skills. Is there a similar emphasis on thinking over memorizing in the physics classes? Yes. At least for the intro classes, all relevant formulae as well as useful math identities are provided with each exam. (However, this doesnt mean that you shouldnt understand the derivations in all their gory intricacies.) MIT generally tries to ensure that you will never fail because you spent too much time on a test trying to remember the dimensionless factor in the denominator of the Larmor formula (6*pi in SI units, 3/2 in CGS). Problem sets, similarly, require a lot of braining. This page of my 8.03 pset aptly summarizes life as a Physics major at MIT. (After taking a shortcut that failed to reach the intended destination, i.e., the correct answer.) 4. I dont know how well you know the math department, but do you know where on the spectrum from super applied to super theoretical the math department classes usually fall? Or are they all over the place? Do most physics majors end up taking classes at a certain point on this spectrum? If you look at the math department course catalog, youll notice sections subtitled “Applied Math,” “General Math,” “Analysis”, “Theoretical Comp. Sci.,” etc. Math tends to be the all-purpose flour in MITs curriculum pantry. A “typical” math class doesnt really exist; theres more than enough choices for you to fine-tune the level of applicability until it resonates with your interests. Analysis classes tend to be theoretical, whereas applied math is geared toward engineers, which I just nearly spelled “gearineers.” Time for bed. Also, I know at least one physics major who accidentally took enough theoretical math classes to get a second major in Course 18. Most people, at least those who arent into intense theory, go with just 18.03, 18.06 (or a variant thereof), and 18.04 or an applied math class. Thank you, Betsy [last name omitted to create a feeling of suspense] No problem, Betsy! Want to see my problem sets for this week? Really, you do? Okay! To be honest, my problem solving skills this week fell short of robust. The trouble started with the double pendulum problem on the 8.03 (Waves n Vibrations) problem set, which I naively crammed into the Lagrangian instead of kickin it old-school with a force balance diagram. Im one of those people who use the Lagrangian to calculate the net force on an object falling from rest, you know. Anyway, this happened: 1.5 pages later, the moral of the story was pummeling me in the face. Live and learn but dont Lagrange. Lagrange isnt even a verb. I reworked the problem later and massaged out the hideous lumps of unsimply simplified terms by dousing everything in a small angle approximation that was much, much smaller than what I consider to be a kosher small angle approximation. It was during Yom Kippur, after all. The second sign of impending toil came in an email from the 8.033 (Special Relativity) TA last night that basically read, “Sorry, forgot to mention that you need to show calculations for Problems 2 and 3 instead of just drawing diagrams, because you probably skipped art class in high school anyway.” The only problem was that I had already finished the problem set and, like residents of Manhattan slums during the early factory era, I had no space left. Appendix A turned out to be pretty much the most beautiful thing that I have ever created with my bare hands. My 8.07 (Electricity and Magnetism II) problem set this week was blissfully merciful, except that everything equivalency statement I tried to prove turned out to be off by either a factor of 2 or a factor of sqrt(c). Did you know that the square root of a meter per second is a fundamental dimensional quantity in both electromagnetic momentum and energy flux? Neither did I. Sometimes, frustration begs to be cartoonified. Inspired by Professor Belchers mathematically gorgeous field line representations (check them out- as a bonus, the animated ones also make excellent music visualizers), I took a break from work to relax, refresh, and reinterpreted a Van Gogh painting as an electric/magnetic field diagram. Yep, this qualifies as a break from work.

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Forensic Accounting Essay examples - 2174 Words

In the present day forensic accounting plays a huge role in many of the court cases publicized by the media. With the spotlight on the profession, this is a good opportunity to discuss the following topics: 1) Five skills that a forensic accountant needs to possess. 2) The role of a forensic accountant within a courtroom environment. 3) Analyze the legal responsibility a forensic accountant has while providing service to a business. 4) Examine two cases where forensic accountants have provided vital evidence in a case, summarizing their importance to the case. The word forensic is defined as relating to the use of science or technology in the investigation and establishment of facts or evidence in a†¦show more content†¦Because of the need for forensic accountants in deciphering and analyzing liability and damages, their role in the courtroom, as businesses have continued to evolve, has expanded rapidly as well. While in the past, forensic accountants have conducted investigations into the assets of parties involved in divorce, or in supporting claims in construction disputes, now the list of roles has expanded to include antitrust cases, intellectual property disputes, securities litigation, and professional negligence lawsuits.(Tucker, 2011) As laws and regulations continue to grow and become more complex, the need for forensic accountants is sure to continue growing as well. An example of how regulations have grown (mirroring the demand for forensic accountants) can be seen by comparing the scope and length of the Sarbanes-Oxley Act of 2002, at 66 pages, to the 849 page Dodd-Frank Wall Street Reform and Consumer Protection act of 2009.(Tucker, 2011) It is the environment created by such complex regulations and oversight committees that has hedged the need for accounting experts who can help demonstrate both the effects of individual companies on overall markets, as well as the opposite effects of market-happenings on individual firms. This complicated data, made comprehendible by a talented and effective forensic accountant, can serve as the determining factor in a case. Ultimately, this allows forShow MoreRelatedForensic Accounting Essay1771 Words   |  8 PagesForensic Accounting in Practice: Forensic Accou ntants: Fraud Busters A forensic accountant is part investigator, part auditor, part attorney, and part accountant (Levanti, T.). Due to the increase in high-profile cases of companies and individuals, forensic accounting is a growing and popular field in the business and forensic subjects. A forensic accountant is someone who is often retained to analyze, interpret, summarize, interviews and present complex financial and business related issues inRead MoreForensics Accounting : Kessler International1612 Words   |  7 Pagesleaders in forensics accounting and investigations. With its headquarters in New York City, the small company was able to grow. This firm is renowned in many countries around the world. Its dedicated accountants and analysists work very hard to catch people suspected of committing crimes involving money. Due to fraud and other forms of dishonest business behavior, Kessler International steps in to investigate. They offer a wide variety of services ranging from Forensic Accounting, Di gital Forensics, IntellectualRead MoreForensic Accounting : The Energy Company Enron1765 Words   |  8 Pagesinvolved in one of the biggest corporate accounting scandals of the 21st century. The company had covered up large amounts of debt to make their financial statements look more appealing to investors; consequently, after the fraud was discovered, many people lost their investments and many employees lost their jobs, including the corporation’s CEOs. After the authorities had been alerted that illegal activities were possibly taking place within Enron, forensic accountants were brought in to determineRead MoreForensic Accounting1628 Words   |  7 PagesFORENSIC ACCOUNTING MORE THAN JUST NUMBERS The field of accounting is no longer just for those who enjoy crunching numbers. Preparing financial statements, internal auditing, and tax accounting are only the tip of the iceberg. In today s society of the money hungry, the sue happy, and the financially unfit, a new breed of accountant; the Forensic Accountant has emerged. Although Investigative Accounting has been around for years, it has only recently begun to transform into the scienceRead MoreForensic Accounting7273 Words   |  30 PagesManagerial Auditing Journal Emerald Article: Forensic accounting education: insights from academicians and certified fraud examiner practitioners Zabihollah Rezaee, E. James Burton Article information: To cite this document: Zabihollah Rezaee, E. James Burton, (1997),Forensic accounting education: insights from academicians and certified fraud examiner practitioners, Managerial Auditing Journal, Vol. 12 Iss: 9 pp. 479 - 489 Permanent link to this document: http://dx.doi.org/10.1108/02686909710185206Read MoreForensic Accounting1497 Words   |  6 Pagesprofessors from Rider College interviewed over 150 lawyers, Certified Public Accountants (CPAs) and accounting educators. The study identified sixteen skills needed by forensic accountants. According to the study, the five most important skills are analytical skills, basic accounting skills, problem solving skills, data analysis skills and interviewing skills (McMullen Sanchez, 2010). Forensic accountants need analytical skills because as they review financial reports and other source documentsRead MoreForensic Accounting1945 Words   |  8 Pagesï » ¿Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Style is a fraud. I always felt the Greeks were hiding behind their columns. Fraud in the financial community is consistently hidden in style. Since its beginnings in the great depression, to now, the great recession fraud has undoubtedly takingRead MoreForensic Accounting : A Relatively New Field1554 Words   |  7 PagesIntroduction While accounting has always been widely practiced, forensic accounting is a relatively new field. Forensic accounting is the use of accounting to extract information from financial documents to prove fraud or embezzlement in the court of law. It involves identifying, recording, and extracting financial data while using a variety of direct and indirect analysis methods. In recent years, the profession has gained attention for its role in stopping both terrorists and corporations fromRead MoreForensic Accounting : The Field Of Accounting1585 Words   |  7 PagesThe field of accounting goes deeper than the general business field and requires specialized actions. Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business. This system can contain various steps, procedures, and processes that led you to your final results. Some of these various types of accounting include tax, managerial, financial, governmental, private, and forensic acco unting. So as you can see, even in this extremely specialized field youRead MoreForensic Accounting1872 Words   |  8 PagesAlverez makes Sonya to accept the offer because she needed the money. If Sonya accepts the offer by Carlito Alverez, there are potential that Sonya might against the code of ethics as tax practitioners and could be finalized on her wrong doings. FORENSIC APPROACH âž ¢ THE ENGGAGEMENT PROCESS Fraud investigation engagement process consist of six steps that the investor need to go through. In this case, Sonya Fuentez which is the IRS- enrolled agent, should go through this process before she decide

Case 12-05 Free Essays

MEMO: LabCo must determine if their accounting policy for the revenue treatment of its construction contracts is reasonable, if it is appropriate for LabCo to change its method of accounting for the Halibut contract from the percentage-of-completion method to the completed-contract method and how the change should be treated on the basis of the guidance provided within ASC 250, and how LabCo’s accounting policy and accounting for the Halibut contract may change under IFRS if adopted in the coming year. This memorandum will provide support for how the overall conclusion, based on the issues above, was reached. Facts Accounting Policy for Revenue Treatment LabCo is a large construction contracting firm, and negotiates all of its contracts with its customers on either a fixed-price or cost-plus basis. We will write a custom essay sample on Case 12-05 or any similar topic only for you Order Now LabCo has developed an accounting policy for revenue recognition related to its customized construction contracts, as follows: â€Å"The Company performs under a variety of contracts, some of which provide for reimbursement of cost plus fees, and others that are fixed-price-type contracts. Revenues and fees on these contracts are primarily recognized on a contract-by-contract basis using the percentage-of-completion method of accounting, which is most often based on contract costs incurred to date compared with total estimated costs at completion (cost-to-cost method). † â€Å"The completed-contract method of accounting is used in instances in which reliably dependable estimates of the total costs to be incurred under a specific contract cannot be made. † Change in Method of Accounting for Revenue Treatment LabCo has entered into a contract with Halibut to build a six-axis laser cutting machine. The contract entered into was for a fixed-price and requires detailed and involved performance specifications. Even though this was a unique arrangement that required a great deal of customer specification, LabCo believed that with its extensive experience performing under similar contracts, including previous contract with Halibut, the percentage-of-completion method of accounting for this contract was appropriate. After LabCo began experiencing significant difficulties in the design and manufacture of the six-axis laser cutting machine, (including design revisions, certain engineering costs needing to be outsourced, and the cost of steel used in the production of the frame of the machine rising unexpectedly) they determined that their estimate of the overall cost to complete the contract needed to be revised. LabCo expected that the overall project would incur total costs that would be in excess of the total fixed-fee contract price negotiated with Halibut. As a result, management updated its estimates used in percentage-of-completion accounting to reflect both the cost overruns incurred as well as the cost overruns expected to be incurred, and also recorded a provision for the entire loss on the contract in the period in which it became aware that the contract costs would exceed the total contract value. After six-months, LabCo delivered the six-axis laser cutting machine to Halibut. Yet, when final test were ran using the six-axis, the machine failed to perform up to Halibut’s specifications as defined in the contract. LabCo then had to redesign, fix, and remedy the various issues with the machine. Upon notification of these continued problems, LabCo’s CAO determined that total estimates of the contract costs to be incurred for the Halibut contract were no longer able to be reliably determined. Therefore, the use of the percentage-of-completion method of accounting was deemed no longer an appropriate method of revenue recognition for this particular contract. As a result, the determination was made that LabCo would switch to a completed-contract method of revenue recognition for the duration of its contract with Halibut. Analysis Percentage-of-Completion Method Based upon review of ASC 605-35-25-56, the use of the percentage-of-completion method depends on the ability to make reasonably dependable estimates, which, for purposes of this Subtopic, relates to estimates of the extent of progress toward completion, contract revenues, and contract costs. Furthermore, according to ASC 605-35-25-57, the percentage-of-completion method is considered preferable as an accounting policy in circumstances in which reasonably dependable estimates can be made and in which all the following conditions exist: a. Contracts executed by the parties normally include provisions that clearly specify the enforceable rights regarding goods or services to be provided and received by the parties, the consideration to be exchanged, and the manner and terms of settlement. . The buyer can be expected to satisfy all obligations under the contract. c. The contractor can be expected to perform all contractual obligations. ASC 605-35-25-61 states, an entity using the percentage-of-completion method as its basic accounting policy shall use the completed-contract method for a single contract or a group of contracts for which reasonably dependable estimates cannot be made or for which inherent hazards make estimates doubtful. Completed-Contract Method Based on review of ASC 605-35-25-90, when lack of dependable estimates or inherent hazards cause forecasts to be doubtful, the completed-contract method is preferable. Inherent hazards relate to contract conditions or external factors that raise questions about contract estimates and about the ability of either the contractor or the customer to perform all obligations under the contract. Inherent hazards that may cause contract estimates to be doubtful usually differ from inherent business risks. Business entities engaged in contracting, like all business entities, are exposed to numerous business risks that vary from contract to contract. The reliability of the estimating process in contract accounting does not depend on the absence of such risks. Assessing business risks is a function of users of financial statements. According to ASC 630-35-25-97, Circumstances to be considered in determining when a project is substantially completed include, for example, delivery of the product, acceptance by the customer, departure from the site, and compliance with performance specifications. Changes to and from Percentage-of-Completion and Completed-Contract Methods Based on review of ASC 605-35-25-94, the completed-contract method is preferable in circumstances in which estimates cannot meet the criteria for reasonable dependability discussed in paragraph 605-35-25-57 or in which there are inherent hazards of the nature of those discussed in paragraphs 605-35-25-65 through 25-66. An entity using the percentage-of-completion method as its basic accounting policy shall depart from that policy and use the completed-contract method for a single contract or a group of contracts only in the circumstances described in paragraph 605-35-25-61. In addition, 605-35-25-95 states, an entity using the completed-contract method as its basic accounting policy shall depart from that policy for a single contract or a group of contracts not having the features described in paragraphs 605-35-25-92 through 25-93 and use the percentage-of-completion method on one of the bases described in paragraphs 605-35-25-60 through 25-61. Accounting Changes and Error Corrections According to ASC 980-250-55-3, if a regulated entity changes accounting methods and the change does not affect costs that are allowable for rate-making purposes, the regulated entity would apply the change in the same manner as would an unregulated entity. If a regulated entity changes accounting methods and the change affects allowable costs for rate-making purposes, the change generally would be implemented in the way that it is implemented for regulatory purposes. A change in the method of accounting for research and development costs, either from a policy of capitalization and amortization to one of charging those costs to expense as incurred or vice versa, is an example of that type of change. Adopting IFRS Based on review of IAS 18 – Revenue, the recognition of revenue by reference to the stage of completion of a transaction is often referred to as the percentage-of-completion method. Under this method, revenue is recognized in the accounting periods in which the services are rendered. The recognition of revenue on this basis provides useful information on the extent of service activity and performance during a period. When the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue shall be recognized only to the extent of the expenses recognized that are recoverable. Conclusion Accounting Policy for Revenue Treatment Based on the facts presented and the analysis performed, LabCo’s accounting policy for the revenue treatment of its construction contracts appears reasonable. On the other hand, while it makes sense to use the percentage-of-completion method for contracts that can be reasonably estimated, the completed-contract method of accounting appears to be the â€Å"preferred† method, due to the specific criteria that must be met in order to qualify for such reasonableness under the percentage-of-completion method of accounting. Change in Method of Accounting for Revenue Treatment Based on the facts provided and the analysis performed, it is appropriate for LabCo to change is method of accounting for the Halibut contract from the percentage-of-completion method to the completed contract method. According to the guidance (stated above), â€Å"An entity using the percentage-of-completion method as its basic accounting policy shall depart from that policy and use the completed-contract method for a single contract or a group of contracts only in the circumstances described in paragraph 605-35-25-61. The Halibut contract adheres to this policy, and because there were unexpected issues that caused for the contract to no longer be reasonably estimated, they are correct in their reasoning for changing to the completed-contract method. On the basis of the guidance provided within ASC 250, Accounting Changes and Error Corrections (provided above), this change should be treated in one of two ways: (1) If a regulated entity’s change in accounting methods does not affect rate-making costs, the change would be applied in the same manner as an unregulated entity. 2) If a regulated entity’s change in accounting methods does affect rate-making costs, the change would be implemented based on regulatory purposes. Adopting IFRS If LabCo decides to adopt IFRS in the upcoming year, there will be a slight change in the Company’s accounting policy, as well as their accounting for the Halibut contract. The use of the percentage-of-completion method when contracts can be reasonably estimated will remain consistent with IFRS. However, whenever these costs cannot be reasonably estimated, instead of using the completed-contract method, IFRS states that revenue shall be recognized â€Å"only to the extent of the expenses recognized that are recoverable. † Therefore, the accounting for the Halibut contract will change under IFRS in the same way. In this instance, rather than switching from percentage-of-completion to the completed-contract method, LabCo’s contract change would consist of altering the percentage-of-completion method in order to adapt to the recognition of revenue as stated by IFRS in the paragraph above. How to cite Case 12-05, Papers

Education is not the only key to success free essay sample

Most groups use some form of parliamentary procedure for their meetings. This Factsheet not only briefly explains proper parliamentary procedure for more formal meetings, but also describes acceptable alternatives for decision-making in smaller groups. Rules For Meetings Just as the object of a game gives direction to its players, traditional principles of a democratic meeting guide group members when they gather: 1. Every member has rights equal to every other member. 2. The will of the majority must be carried out. 3. The minority must be heard, and its rights protected. Only one topic will be considered at a time. In order to play a particular game, certain rules for that game must be followed. Parliamentary procedure is a set of rules for meetings which ensures that the traditional principles of equality, harmony and efficiency are kept. Roberts Rules of Order, the best-known description of standard parliamentary procedure, is used by many different organizations as their rule book for conducting effective meetings. The Problem With Rules The saying Rules are meant to be broken implies that no rules are perfect. The parliamentary rules used in government provide guidance for a body of hundreds of people meeting daily for months with a great volume of business to conduct. These same rules are not appropriate for all organizations. How rigid are your meetings? Does too much technical procedure (motions, amendments, seconding, etc. ) get in the way of effective decision-making and total group discussion? Too much formality in a meeting will frustrate and discourage members when the proceedings bog down. Parliamentary rules for meetings are intended to help the group conduct its business (fairly and efficiently), not hinder it! There are many effective ways for a group to conduct its meetings. Technical procedure, however, should be discouraged in the average group meeting. Every organization should examine standard parliamentary rules, then interpret and adapt them to its own use. If group members agree that the rules theyve developed permit a majority to accomplish the organizations ultimate purpose within a reasonable period of time, while allowing the minority a reasonable opportunity to express its views, then those rules are appropriate. Rules For Small Group Meetings? Meeting procedures for committees, executives and most boards can be much different than those for larger gatherings. Certain formalities are unnecessary when the group size is less than about a dozen members. For example: 1. There is no limit to the number of times a member may speak to an issue. 2. It is not necessary to address the chair before speaking. 3. The chair neednt leave that post in order to speak, make motions or vote. (In fact, he or she may well be the most active participant in discussions and work of the committee. ) 4. Motions need not be seconded. 5. Action can be taken, at times, without the introduction of a motion. If, however, a small group using these relaxed rules discovers that any one of the four basic meeting principles is being abused, then more formal procedures may be reintroduced to the meeting. Parliamentary Procedure At A Glance If your group follows parliamentary procedure by the book, the occasional technical question might be asked. 1. What is the proper sequence of steps in having a motion voted on? A motion has nine possible steps: Moved a proposal from the floor. Seconded another member feels the proposal is worth discussing. Stated by the chair or secretary. Wording is recorded properly and everyone understands the intent of the proposal. Discussed every speaker addresses the chair and must speak only to the motion. Usually, each member may speak only once to a motion except the mover who has first and last chance to speak. Amended changing the wording of the motion by: adding or deleting words replacing with different words. each amendment has the same 9 steps as a motion. Called after sufficient discussion, either a motion to end debate or a vote is called at the discretion of the chair. Restated ensures everyone understands what is being voted on. Voted chair calls each option: All in favour? , Opposed? or Abstaining? Declared results of the vote are announced by the chair. 2. Can the intent of the main motion be changed by an amendment? Yes; the main motion may be changed, contrary to the intent of its movers. Only two criteria govern the use of an amendment: An amendment may not convert a motion to its direct negative; and An amendment must be pertinent to the topic in the main motion. E. g. , a motion to purchase a new typewriter for the secretary may not have and to pay the expenses of delegates to the annual meeting added to it. This amendment clearly has no relationship with the secretarys need for new equipment. 3. How many amendments can be made to a motion? There are only two kinds of amendments: those pertaining to the proposed motion called first rank; and those pertaining to a proposed amendment called second rank (amendment to the amendment). Only one amendment of each rank may be on the floor at one time. Any number of amendments may be made to most motions, but no second rank amendments may be amended (i. e. , an amendment to the amendment to the amendment is not allowed! ). 4. How can a meeting start without a quorum? A quorum is the minimum number of eligible voters that must be present at a meeting to conduct business. This number is designated in the by-laws of the organization and for a board is usually half the voting members plus one. If no quorum is present when the advertised hour of the meeting has been reached, then: the presiding officer may dismiss the group (after setting a time for future meeting); or the group may agree to proceed informally with the agenda, awaiting ratification of any decisions at a future meeting; or the group may discuss any items of interest but make no decisions. 5. How can our constitution be amended? A good constitution contains provisions for amendment, so the structure and procedures can continually meet the changing needs and purposes of the group. Usually, a special committee is appointed to review the groups objectives, structure, functions, etc. Copies of its report and recommendations are circulated to all members with the required notice and agenda for the meeting (often the organizations annual meeting). Any amendments proposed during discussion at the meeting require a majority vote for approval, but the motion to amend the constitution needs a two-thirds majority vote for adoption. Who is the presiding officer at meetings? Often the president is designated in the constitution or by-laws to chair the organizations meetings. In many groups, however, the chair is assigned to the past-president, special moderator, or to a different person each time on a rotating basis. This allows the president to take a lead in debates on policy rather than maintain a position of supposed neutrality which is directly contrary to his or her usual role as spokesperson for the group. 7. After considerable debate, we still are not ready to vote on the motion. What can we do? A motion to postpone the matter until the next meeting may be in order, so that more information can be gathered. A motion to postpone temporarily (to table) allows a motion to be set aside until later in the meeting, allowing more urgent business to be dealt with, permitting amendments to be drafted, or allowing time for implications of the motion to be checked. A motion to take from the table brings it back before the meeting. The motion may be withdrawn at the request of its mover, but only if no member present objects. 8. What happens when someone yells Question! From the floor indicates that he or she wants the motion put to a vote. Only if the chair feels that the motion has had reasonable debate and most members are ready to vote, can he or she call the question (i. e. , All those in favour? , etc. ). Another way to close discussion on a motion is for someone to make a motion to call for a vote. This motion must be seconded and requires a two-thirds majority vote in order to proceed with a vote on the motion on the floor. 9. How should a committee report be accepted by an organization? A motion to receive the report means that the organization is not committed to any of the conclusions or recommendations contained in it. (An example of such a report would be the monthly, unaudited treasurers report. ) A motion to adopt the report in whole or in part commits the organization to some or all of the recommendations of the report, and often implies some action to be taken. 10 Sometimes while one motion is being considered, an alternative motion might be the better one. How can it be presented? 1. The movers request permission from the presiding officer to read out the alternative motion. The movers of the original motion are asked if they will withdraw their motion, with the unanimous consent of the meeting. 3. If the original motion is withdrawn, then the alternative motion is moved. 4. If the original motion is not withdrawn, then the movers of the alternative motion inform the meeting that their motion will be moved if the original is defeated. They thus urge the members to vote against the original motion. | Top of Page | Consensus: Another Method Of Decision-Making In Groups How many meetings does your group hold in a year to discuss issues or problems? How much time is spent in each regular meeting making decisions or solving problems? Does the discussion end with a proposal for action? One rule in parliamentary procedure that can hamper a free and easy exchange of ideas is: Discussion can take place only after a motion is proposed. In fact, a motion is a proposed course of action, a solution to a problem, or a decision. By focusing the groups attention on a solution before realizing the scope of the problem, the group may be voting on something that is entirely inappropriate. Is the cart before the horse? A simple method of ensuring an effective group decision is to build a motion through consensus. This method eliminates a complicated amendment procedure after an initial motion has been proposed. It also ensures that a large majority will agree with the motion rather than the mere 51% required by a typical voting procedure. The following process can be used throughout the meeting for every problem the group needs to discuss. Step 1. Describe the issue or problem confronting the group. State the problem clearly and concisely. If it is complex, then write it out. Step 2. Gather all information relevant to the problem. All pertinent facts and ideas about the problem need to be heard in order to make a wise decision. Distinguish between facts and opinions. A decision can often be made right away. However, action may need to be deferred so that additional information can be gathered. Step 3. List all possible solutions or actions. Explore alternatives. Be creative. Use brainstorming techniques to generate new ideas, from every member. Step 4. Choose the best possible solution. Use a process of elimination; refine and combine parts of your list in step 3. Reaching consensus is not always easy. Some individuals become frustrated with the time taken for group decision-making. Also, this method relies on the discretion of the chair who eventually decides when a general agreement or common feeling has been reached. In some situations, if only extremely vocal and confident individuals dare to challenge the majority view, then the minority opinion is in danger of being suppressed. Using consensus, however, can result in higher quality decisions. The complicated rules of parliamentary procedure are reduced while maximum member participation is encouraged. In the end, group decisions lead to group action! Conclusion Whichever method your group chooses to make its decisions or conduct its meetings, the four principles of a democratic meeting must be followed. As more formal procedures are adopted, more complicated rules are followed. There is little reason for any one person to attempt to learn every rule of parliamentary procedure. To know where to find the answers is enough. The following references may help answer any questions not addressed in this Factsheet. References Parliamentary Procedure at a Glance. Jones, O. Garfield.