EasyJet Airline Company Essay Example | Topics and Well Written Essays - 2500 words

EasyJet Airline Company - Essay Example The timetable of EasyJet Airline purportedly began in March of 1995 as originator Sir Stelios Haji-Ioannou was noted to have offered trips at fundamentally low tolls in Europe. Currently,it gloats of being â€Å"Europe's driving airline,operating on more than 600 courses across 30 nations with our armada of more than 200 airplane, utilizing more than 8,000 individuals In its very nearly 18 years of authoritative presence, EasyJet was noted to have been represented by a set of accepted rules to manage the conduct and dynamic procedures of its faculty. The paper therefore presents a basic assessment of the code of EasyJet Airline through a portrayal of the code and by completely surveying the code’s viability in showing the company’s qualities and adjustment to business morals. Basic Analysis of the Code The organization’s code was found under the title Governance on their official site: http://corporate.EasyJet.com/about-EasyJet/governance.aspx?sc_lang=en. Upon i ntroductory look, the administration page contains data that demonstrates that the organization’s top managerial staff charged setting standards and moral arrangements, of which, it was unequivocally accentuated that the â€Å"key to these standards is working in a transparent manner† (EasyJet Airline, Governance, n.d., standard. 2). In like manner, the code was clearly designed from the UK Corporate Governance Code which purportedly requires the accompanying data to be disclosed:†¢ Terms of reference for the Finance Committee†¢Terms of reference for the Remuneration Committee... ance Committeeâ Terms of reference for the Remuneration Committee Terms of reference for the Audit Committee Terms of reference for the Nominations Committeeâ Terms and states of arrangement/reappointment of the non-official chiefs Matters saved for the Board Non-Audit Services Policy (EasyJet Airline, Governance, n.d., standard. 3). At long last, two (2) different records were revealed to be consolidated and available: (1) Corporate Governance Pages of the Annual Report; and (2) division of obligations of the Chairman and CEO (EasyJet Airline, Governance, n.d., standard. 4). The Corporate Governance Pages of the 2012 Annual Report are found on pages 44 to 48 and contain the accompanying significant bits, indeed: standards articulation, explanation of consistence, administration, directors’ irreconcilable situations, board commitment with financial specialists, board councils, relations with speculators, inner control, hazard the executives and inside review (EasyJet, Corp orate administration, 2012). The Ethics Resource Center has suggested a code layout that ought to evidently contain the accompanying configuration: I.â â â MEMORABLE TITLE II.  LEADERSHIP LETTER III. TABLE OF CONTENTS IV.  INTRODUCTION-PROLOGUE V.â â CORE VALUES OF ORGANIZATION VI. CODE PROVISIONS-SUBSTANTIVE MATTERS VII.  INFORMATION AND RESOURCES (Ethics Resource Center, 2009, p. 1). From the course modules, it was unequivocally characterized that the substance of moral codes are as per the following: â€Å"standard of lead, complying with the law, employees,consumers, investors, colleagues, network contribution, open exercises, condition, development, rivalry, business respectability, and consistence/monitoring† (University of Salford Manchester, What is the substance of moral codes?, 2012, p. 6; Crane and Matten, 2007).

Ed Gein :: Free Essays

Ed Gein The individuals of Plainfield, considered Ed Gein a delicate man who everyone trusted. Ed had an exceptionally exacting adolescence. His dad passed on when he was youthful. His mom at that point concluded that she would bring up her kids and not wed or be engaged with any relationship. Mrs. Gein told Ed and his sibling Henry that all ladies were terrible and that sex would prompt heart breaks and sicknesses. Further down the road, Ed admitted he felt his mom was acceptable in each way (deranged,wierd,sick, http.//www.deranged.com). Specialists speculated he had a sexual relationship with his mom. Inside a short time Ed's mom and sibling had passed on, leaving Ed forlorn on a ranch which didn't have power. Ed maintained odd sources of income like a jack of all trades and child sitting. In his leisure time, Ed led maniacal examinations. Entranced with the female body, Ed frequently entertained himself with anatomical course readings. To really observe and feel for himself, he went to t he cemetery and uncovered a few bodies, including his moms'. He discovered joy in dealing with dead ladies' sex organs. Much more dreadful, he cleaned the bodies and dismembered the bodies. The stock inside his home comprised of heads, hearts, livers, digestive organs, and skin dissipated about. Around evening time he would remove the entirety of his garments, put on his moms skin, and move around the house. Looking for yet progressively sexual satisfaction Ed made furnishings and instruments from body parts. A portion of these things included lampshades, tom toms, and wristbands. Gein then proceeded onward to murdering others. Despite the fact that he just executed two ladies (Mary Hogan and Bernice Wordan), Ed was as yet thought to be a sequential executioner. Subsequent to murdering Bernice Wordan, the proof abandoned lead to Ed Gein. At the point when the specialists showed up they were invited by a combination of human ancient rarities. Contracted heads, drinking glass skulls, and skin furniture. Ed didn't understand that what he had done wasn't right so he welcomed the police in for espresso. Ed Gein :: Free Essays Ed Gein The individuals of Plainfield, considered Ed Gein a delicate man who everyone trusted. Ed had an exacting youth. His dad passed on when he was youthful. His mom at that point concluded that she would bring up her kids and not wed or be engaged with any relationship. Mrs. Gein told Ed and his sibling Henry that all ladies were terrible and that sex would prompt heart breaks and ailments. Further down the road, Ed admitted he felt his mom was acceptable in each way (deranged,wierd,sick, http.//www.deranged.com). Specialists speculated he had a sexual relationship with his mom. Inside a short time Ed's mom and sibling had passed on, leaving Ed ruined on a homestead which didn't have power. Ed maintained odd sources of income like a jack of all trades and child sitting. In his available time, Ed led maniacal tests. Intrigued with the female body, Ed regularly entertained himself with anatomical course books. To really observe and feel for himself, he went to the memorial park and unearth ed a few bodies, including his moms'. He discovered delight in dealing with dead ladies' sex organs. Far more terrible, he cleaned the bodies and dismembered the bodies. The stock inside his home comprised of heads, hearts, livers, digestion tracts, and skin dissipated about. Around evening time he would remove the entirety of his garments, put on his moms skin, and move around the house. Looking for yet increasingly sexual delight Ed made furnishings and instruments from body parts. A portion of these things included lampshades, tom toms, and wristbands. Gein then proceeded onward to murdering others. Despite the fact that he just slaughtered two ladies (Mary Hogan and Bernice Wordan), Ed was as yet thought to be a sequential executioner. Subsequent to slaughtering Bernice Wordan, the proof abandoned lead to Ed Gein. At the point when the specialists showed up they were invited by a grouping of human antiquities. Contracted heads, drinking glass skulls, and skin furniture. Ed didn' t understand that what he had done wasn't right so he welcomed the police in for espresso.

How to Write a Research Paper Introduction

How to Write a Research Paper Introduction Tips on How to Write a Research Paper Introduction Home›Tips for Students›Tips on How to Write a Research Paper Introduction Tips for StudentsCompleting a High-profile Introduction for a Research PaperHowever difficult the research might be, sometimes writing an introduction takes much effort. This part is crucial as it prepares a reader for the further explicate information on the topic. While there are no concrete instructions to the length of the section, it should be suitable for the type of writing you undertake. An introduction is in charge of presenting your topic, give reasoning for the investigated theme, and contextualize it in terms of its position in the branch of science. A well-composed introduction leads the way for the coming information, makes a reader curious and states a hypothesis.How to Write a Research Paper IntroductionComposing an introduction, you should be aware of the things it is going to achieve. First of all, you have to provide a reader with some b ackground information, which will definitely work for easier apprehension of the theme. Additionally, you should explain why you have opted for this subject matter and why resolving it may be useful.You won’t find any limitations according to the number of words in the introduction, but remember that it should be brief and laconic. It is an all-encompassing showcase of the whole paper, which is why many professors advise to write it last.It would be also a nice idea to develop an introduction with the help of an outline. The introduction reviews a whole paper, but it doesn’t touch the issues to be solved. You just narrow the topic and elucidate the points to be in the center of attention in a paper.No less important, you should care about the target audience. Keep in mind that people who are going to evaluate your research paper are mostly professors and other experts in the field of science.Disclose the topic of your writing.This is a win-win variant to begin with a couple of s entences, which put out a subject of the research and set forth the questions to be confronted. It will help you light the sparkle of interest in a reader and evoke a will to read further. Firstly, you mention a wider problem and then indicate a more specific issue to be discovered.Mention key words.It is vital to make a reference to the key words of your paper. Publishing the research, you will be required to compile a huge list of key words for the sake of quick indication of the branch of science and problem discussed. In the same manner, a reader will be able to quickly orient in your writing.Clarify the most important terms and concepts.Do not omit this point as it may happen that a reader is not acquainted with a term and it will be impossible for him or her to understand your argumentation. To be secure from such things, you should present the explanation of the mentioned concepts.Use creative techniques to catch reader’s attention.Such fields as social science and humaniti es give some freedom to apply literary methods in the paper writing process. Most commonly, students start with a quotation or an anecdote that denotes the topic of essay and highlights the aspect to be communicated. The technique is called the inverted triangle and efficaciously deals with the task of attracting readers’ attention. Yet you should be very careful picking an appropriate anecdote as it should be truly relevant.Review the literature in a few words.Judging from the length of your essay, you need to overlook the already developed scientific words on the subject chosen. If you take notice of the past and nowadays stages of the problem development, it will show that you have covered enough material while investigating the issue and that you are well-versed in it. What it more, it means that you can debate with other scientists and your research is competitive.Highlight your contribution with the help of literature review.Examining existing publications on your topic, you should demonstrate the place of your own research in the scientific world. Make a smooth shift to discussion of your own paper and tell what valuable income it has brought.Tell why your paper is practical and timely.You have stated a broader context of the topic and now it is time to be definitive and reasonable. Give evidence that your research is a truly valuable piece of writing that makes difference in the perception of the problem. Trust your reader and reveal strengths and weaknesses of the paper. Do not present everything in perfect light, as it is obvious that you may have faced some difficulties, which can be crucial for proper understanding of the special nature of the subject.Indicate the questions you are going to answer in your paper.Make a list of subtopics you are going to deal with. Make a clear division of the tasks you intend to accomplish. Stating a particular question is a good way to show the things you are planning to investigate. This goal can also be achieve d through literature review and frames of your research.Make a thesis statement.Once a reader is roughly aware of the subject matter, you should draw a line presenting a hypothesis. It is a clear announcement of the concrete issue you are going to work on and the outline of your future contributions in the field. It should be clear and debatable.Put briefly the structure of your research paper.Make a review on the organization of the paper; for instance, tell about the section division. This final step is very important as it demonstrates your abilities to process information and lead a reader giving the main points of your writing.Addressing a question ‘how to write an introduction for a research paper?’, you should follow the mentioned tips and try to keep it all brief. You should show your passion for the investigation and encourage a reader in this way. Moreover, be creative within measure in order not to sound to literary. Logic and sound argumentation is the best ingredien t of scientific writing.

Business Law And How It Ties Into Our Everyday Lives

Research Paper Business law and how it ties into our everyday lives is very important. To understand these laws and find them applicable in certain life issues is something I feel that every citizen should have a grasp of. With this research paper I will focus on the issue of copyrights, lawsuits, trademarks and how it affects designers and artist. I myself am a clothing designer and have my own brand 5ivepillars. Numerous times during my years as an artist and designer I have seen companies both big and small rip off my work. Most of the time these companies and the individuals behind them steal a concept or idea you may have and replicate it using different colors. This trend has grown more and more in the fashion industry while leading to a large amount of lawsuits, and trademark suits. But these lawsuits have not stopped companies from stealing intellectual property. Some such as forever21 have blatantly stolen dress and clothing ideas straight off of runaways and have had them i n stores ready to sell two weeks after the dresses were show cased. This time of disagreed for the law sadly happens a lot to designers and creatives in the United states. Lets see how this happens. Copyrights by definition are the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same. By reading the definition one might feel comfortable with the process ofShow MoreRelatedHow Immigration Has A Positive Effect On Canada876 Words   |  4 PagesSince 1867, the year of the confederation Canada has allowed over 17 million migrates into our boarders legally. With each new year, the number of migrates allowed in Canada varied, depending on causal effects within our world, and the personal lives of migrates. There are many different reasons as to why migrates come to Canada. Research describes how immigration has a positive effect on Canada. Some people may think immigration is a disgrace, do to their own judgment, and lack of education uponRead MoreThe Pains of Anarchy in Lord of the Flies by William Golding 619 Words   |  3 Pages Earlier this year, I became the government. Everyday, for the next few days, I woke up before the sun rose and filled my hotel room with light. In business professional attire, I would walk down the halls of the California State Capitol and into the Assembly Chambers. I experienced firsthand how the administration of our society works. There came a day, a cloudy day with rain falling momentarily, in which a protest was gathered in the streets. A man spoke, asking for the government to remove itsRead MoreThe Brundtland Report Defined Sustainable Development Essay1585 Words   |  7 Pagesopportunities for others, helping businesses thrive, and taking into account numerous other cultural, economical, and social components. Food sustainability is integrated into the numerous parts of our society. According to the Huffington Post, Congress even addressed food sustainability in 1990 with the Farm Bill. The law explained the term â€Å"sustainable agriculture,† means â€Å"an inte grated system of plant and animal production practices having a site-specific application that will, over the long term: satisfyRead MoreEssay on Sweatshops and Unethical Labor Practices1260 Words   |  6 Pagesmigrant workers in china. These workers make most of the things we own. Most of us don’t think about the people who make our clothes, our phones, our computers; items that we use everyday. Our way of life revolves on mass consumerism, where we value the article more than the person or persons who made it. Mass media and multi million dollar industries keep the conditions on how these people work as a total mystery. Some brands have been exposed for sweatshop and unethical labor practices, yet nothingRead MoreThe Right For Individual Legal Age Essay1234 Words   |  5 Pagessomething we trys to achieve everyday in the political world. If anyone who wish to become president of the United States he or she will have to understand the American dream and what American need. The American dream is equal opportunity to achieve success and prosperity through hard work, determination, and initiative. As we know the American dream is the ideal for every Americans citizen and this is the American political culture. When it comes to this question, How do some of these values differentRead MoreThe Absolute Biggest Threat That Our World Faces Today Is Global Mass Corruption Essay1512 Words   |  7 Pagesthat our world faces today is global mass corruption. A comprehensive report suggests that Afghanistan, Somalia, and North Korea are among worst regions in terms of corruption. Transparency International is the firm in which has established the Corruption Perceptions Index. The index is based on the collaborated global professional opinion of many intellects in order to define the measured perceived levels of public sector corruption. The score a nation receives in the report determine just how corruptRead MoreThe Guanxi Between China And China1741 Words   |  7 PagesIntroduction The Guanxi phenomena is exclusive to China and is very apparent in everyday life, it can be used in the personal dealings or at the business level. Guanxi concept is not completely alien to the rest of the world, it is apparent in a slightly different, more modest form. Most of people would be aware of bribery (it is an act of giving money or gifts that alters the behavior of the recipient), which would be someway linked to guanxi concept. The main difference is that bribery recognisedRead MoreAccounting Fundamentals For Health Care1378 Words   |  6 PagesNext, the Patient Protection and Affordable Care Act of 2010 is extensive, complex, and deals with accounting and finance which is all worth mentioning. Another factor of health care organizations is not-for profit using health care funding and how it all ties in together for accounting and finance for health care organizations. Lastly, the purpose behind the concepts and terminology from Accounting Fundamentals for Health Care Management from my work experiences will enhance my perspective of the overallRead MoreDurkheim1434 Words   |  6 Pageslabor† (Index 1). On the other hand you have Mechanical Solidarity which according to â€Å"Emile Durkheim (1858-1917) to refer to a state of c ommunity bonding or interdependency which rests on a similarity of beliefs and values, shared activities, and ties of kinship and cooperation† (index 1). Both of these terms are highly relative when it comes to the basis of â€Å"The Division of Labor in Society.† This book discusses the major themes relating to both solidarities while also progressing in the ideasRead MoreClass : Ids 230 - Great Books1731 Words   |  7 PagesClass: IDS 230 – Great Books Instructor: Professor Catherine Milton Student: Herfalyn Williams Final Essay Question â€Å"What is â€Å"Race?† Race to me is one issue that is staring in our face, we see it but behave as if it’s not there. I moved to America a few years ago and experienced the culture shock of the issue of race that is affecting us as people. When I first got here I was so unaware of a fact that my race was referred to as minorities. I knew not much about my history and lived amongst Jamaicans

Compare And Contrast Emily Dickinsons Death And Nothing...

What most people know about Emily Dickinson is that she was an isolated poet from Massachusetts who composed plenty of poems in the 1800s, which was published after her death. Death and funerals are two major topics of Emilys poem. Because I Could Not Stop for Death is one of Emily Dickinsons longest and most captivating poem. The artist Pablo Neruda is also a very popular poet for his political activism and his electric poetry. He was first known for his alluring poems such as Today around evening time I Can Write. The poem Nothing But death is an example of Nerudas idyllic vision and style. Both the poems â€Å"Because I could not stop for death† and â€Å"Nothing But Death† are on the topics of death, therefore, their theme is also†¦show more content†¦Although the theme of both the poems is same, its meaning illustrates the contrasting story to the reader. â€Å"Because I could not stop for death† takes the readers on the journey of the poet’s death. According to Patricia Engle, â€Å"She juggles temporal with eternal, corporal with spiritual, and life with death deftly, in mercurial shifts between micro and macro views of the worlds around her, within her, and beyond her.† (2) The poem reminds the readers about the ultimate reality of death. Because death is a purpose of uncertainty for everyone while she is excited and relieved taking it as a seasonal activity. â€Å"I had put away/ My labor my leisure too, /For His civility† (6-8), further she says death is â€Å"Kind† and Dickinson â€Å"could not stop for death.† The poem â€Å"Nothing But Death† talks more about graves and dead souls. Pablo denotes â€Å"death† into â€Å"bones† â€Å"coffins.† He sees all the dead things around him, â€Å"with women that have dead hair/with bakers as white as angels† (17), â€Å"the colors of damp violet† (33). The melancholy and darkness are carried all throu ghout the poem. The poet uses â€Å"darkness† three times in one line to express how much he fears the graves and dead bodies around him. Both the poems exhibited theShow MoreRelatedThe Concept of Death in Emily Dickinsons Poetry: An Analysis3177 Words   |  13 Pagesï » ¿Death in Emily Dickinsons Poetry Introduction Emily Dickinsons 19th century anti-sentimental death poetry illustrates the awful struggle she faced with her spirituality and the realities of life, death and despair. Her attitudes were compelled by a perplexity regarding the prospect of Immortality and the afterlife. Dickinson almost appears at times to see in Death the personification of Relief. In other poems, she seems to see Death as something frightening and demanding of ones faith. InRead MoreThe Flea By William Shakespeare, Emily Dickinson, And John Donne1521 Words   |  7 Pagesshowcased in the works by famous poets like William Shakespeare, Emily Dickinson, and John Donne. William Shakespeare is credited to be a wordsmith ahead of his time for crafting some of the most well known works in literature, Emily Dickinson is considered one of America’s leading female poets of the 1800s, and John Donne is recognized as one of the leading members of the metaphysical movement. Even so, their work spoke out on religion, lo ve, death, and anything concerning society’s implication on the establishedRead MoreComparing Death And It Was Not Death, For I Stood Up1537 Words   |  7 Pagescontrasting the two poems ‘Death’ and ‘It was not Death, for I stood up’ Indeed. in their respective poems it is evident that the poets George Herbert and Emily Dickinson are writing in two different centuries. Both differ in terms of style, language and the different way in which they approach the concept of death. However, despite their differences, both ‘Death’ and ‘It was not Death, for I stood up’ signify the fundamental features of death in the poems which reiterates death as biological despiteRead More Inspiration and Manipulation Essay2655 Words   |  11 PagesInspiration and Manipulation Emily Dickinson is a poet of great interest because she is one of a handful of artists that â€Å"refuse to conform to the Anglo-American literary traditions† (Howe 11). One of the most fascinating aspects of Emily Dickinson’s character is that she willingly shuts her door to the world which ultimately allows her creativity to thrive without criticism. While historical documents allow contemporary readers insight into her life and provide potential reasons for her seclusionRead MoreDeath in American Literature2425 Words   |  10 Pagesthat doubts and questions its own reflections. They employ death as the focal point of self-consciousness, the unknowable center around which our thoughts inevitably swirl (whether we are aware of it or not).   Compare Dickinson’s poem #315 and Poe’s â€Å"Ligeia† on the topic. Philosophy of the death The theme of death has always been a presence in American writings – from early colonial diaries and through the nineteen century – because death was perceived to be ever present in people’s lives. DescendedRead MoreThe Raven By Edgar Allan Poe945 Words   |  4 Pagespersonally am very fortunate and have not had to experience hardly any grief in my life. Everyone is different which results in everyone having their own way that they deal with grief. The way that Edgar Allan Poe describes grief and the way that Emily Dickinson describes grief is both different and similar. Poe’s famous poem titled â€Å"The Raven† is a great example of how Edgar Allan Poe writes about grief. The poem is about the grief of the narrator during the loss of the love of his life, LenoreRead MoreEssay on Literature Comparison Between a Short Story and a Poem2124 Words   |  9 Pageshear. The two short stories I have chosen to compare and contrast is the poem â€Å"Because I Could Not Stop for Death† written by Emily Dickinson in 1890/1983 and story â€Å"The Secret Life of Walter Mitty† written by James Thurber in 1939. These two stories take place in two different time periods. The main character, in each story, differs in death and position. However, these two stories share a similar message concerning life and marriage. Obviously, Emily Dickinson and James Thurber are two very differentRead MoreHow Fa Has the Use of English Language Enriched or Disrupted Life and Culture in Mauritius15928 Words   |  64 PagesPost your close reading posts here. Share this: †¢ Twitter †¢ Facebook †¢ Like this: Like Loading... [pic] 26 Comments on â€Å"CLOSE READINGS† 1. [pic]John Cooper says: July 13, 2011 at 3:36 pm Emily Dickenson’s poem â€Å"Because I could not stop for Death† details the events the narrator experiences after dying. In the poem, the narrator is driven around in a horse-drawn carriage to several places, including a schoolyard, a field of wheat, and a house sunken in the groundRead MoreA Poem Comparison of Donnes Anniversary and Jennings One Flesh1991 Words   |  8 Pagesto your wider reading in the poetry of love (40 marks). John Donne’s ‘The Anniversary’ is all about the love the theoretical narrator and his object of love share. A year has passed, and everything has grown older, drawing closer to their end. In contrast, the one ageless thing is the unchanging love the poet shares with his lover. Although their bodies will be in separate graves when they die, their eternal souls will be reunited when they are resurrected. For now, the two are kings in their worldRead MoreHow Poets of the Eighteenth Century Handled Love2802 Words   |  12 Pagesour own experiences with love. Poets are infamous for expressing emotions such as pain, love and passions associated with this emotion we call ‘love.’ They allow us an outlet to experience and express love. Eighteenth century poets: Robert Frost, Emily Dickerson, John Keats and Edgar Allen Poe were infamous for their poetic contributions to the literary world; because of their extraordinary gifts of expression we are able to unde rstand different aspects of what it was like to experience love in the

Do young people enjoy life more than older people do Free Essays

Some people may think that older people enjoy life more than young people do. However in opinion, young people enjoy life more than older people do. Young people’ passion and energy are enough to enjoy life more than older people do. We will write a custom essay sample on Do young people enjoy life more than older people do? or any similar topic only for you Order Now The reasons of it are that they do not have to be responsible for numerous tasks, that they are much more energetic than the elderly, and that they can get familiar with new technologies even faster than old people. First of all, young people do not have much responsibility compare to older people. For example, older people have responsibility to take care of their children, to earn money, to complete their work, etc. These responsibilities make them limited to enjoy their life. Moreover, whenever they try to do something to enjoy life they prefer their children’s favor first, like to travel where, to choose which movie, to come together with my friends and their mother. These all make the life less enjoyable thing. On the other hand, young people do not have these responsibilities; they are free to choose from variety of options to do for enjoying their life. They can meet with their own friends, and they can go most recent and famous movie. These show us that young people enjoy their life more than older people do. Additionally, young people have more energy to do anything. In contrast, older people usually suffer from some disabilities by the time is passing. For example, my friend and I have lived in same apartment for about ten years and usually we tried to come together whenever we found some free time. And every time we went different places, and tried new things. Sometimes, our parents were the ones who planned and scheduled the vacation. Unfortunately, they were less powerful and active than we were, which forced our decision for changing according to our parents’ situation. We had great time, and enjoyed of course. However, our parents were sorry to not be able to do everything that they used to do it before. Hence, we see that by the time our enjoying life terms will change up to our ages. And we think that we should go, try and see as much as we can do while we are still young, otherwise we will not be in proper health condition to do whatever we want. Lastly, young people enjoy life more than older people because of the reality that they can easily follow the technology compare to the older people. And technology is one of the most enjoyable things in our life. For example, we are using social media, kinds of application to be more connected to our friends. The more connection creates more friendship. And the more friendship means more enjoyable life. However, older people can only connect with their friends with traditional method which is only couple friends. As a result of this, young people can more enjoy life than older people. To sum up, there is a huge difference between young and older people to enjoy their life. Of course, the older people can also enjoy their life according to their new age. However in some point, they feel that they are not able to do everything they want, and in this manner they feel little boundary surrounding them. They might not feel fully enjoyed life like in their young age. On the other hand, young people can able to enjoy life by being less responsible, more energetic and more following up new things. How to cite Do young people enjoy life more than older people do?, Essays

Role of IASB and Auditing Standards †Free Samples to Students

Question: Discuss about the Role of IASB and Auditing Standards. Answer: Introduction: Australian Accounting standards are issued by the Australian Accounting Standard Board. AASB follows a policy of transaction neutrality which means that that similar or like natured events and transactions are treated in the similar manner among the profit sector and the non-profit sector. These standards are aimed at the development and maintenance of high quality in the financial reporting practices for all the Australian reporting entities. The accounting standards have been amended on time to time basis in response to problems like Global financial crisis which was occurred in year 2007-2008 and is considered as the worst disaster of the worlds economy. There were various reasons that led to the crisis. The methods that were used to account for the financial instruments and also the requirement for their fair valuation as per the accounting standards have actually contributed to the financial crisis. At the end of year 2007 the crisis began to raise, the professional accountants and the financial directors were forced to account for the main reasons behind the remarkable decline in the earnings of company, primarily because of the excessive losses that were being recognized after the re-measurement of derivative instruments fair value and also to make good the losses existing in special purpose vehicles (Anamaria M?d?lina, 2014). The same directors were paid considerable amount of bonuses on the basis of increased fair values shown in the financial statements (Jarolim ppinger, 2012). In the initial days of emergence of subprime crisis during late 2007, home loans which were housed in securitized special purpose vehicles were not able to clear their debts due to sudden decline in house prices (Shiller, 2012). Resultantly, the financial institutions having low credit ratings especially the subordinated loans in those securitization vehicles started reporting huge losses. In earlier years these low quality subordinated loans had confined to limited markets and there were higher demands for the same as these papers were yielding high returns. As a result of which the positive adjustments of fair values were being recognized in the profit statements. But, when the decline in prices of housing industry started gaining momentum, the market for the low quality debts started disappearing and therefore it led to swift reduction in fair valuation of these debts (Pozen, R.C., 2009). The effect of subprime crisis had reach the various economies all over the globe, which purchased those low quality debt papers in order to make benefits from the lucrative market (Mishkin, 2011). These financial institutions had already securitized the mortgages of their own and due to financial pressures from all over the world, these special purpose vehicles also started making defaults and thus resulting in reporting of further losses (Ojo, M., 2010). During the global financial crisis, the credit losses on the loans and other financial instruments were being recognized lately and this approach was identified as the severe limitation of the already existing accounting standards (GAA Accounting, 2017) Moreover, the stakeholders believed that the financial statements did not make sufficient disclosures on various elements of fair value measurement. The serious impact of global financial crisis on the worlds economy coupled with the extensive political interference has made IASB revise the accounting standards in relation to the financial instruments. Therefore, the international accounting standard board has now issued the relevant IFRS in response to the global financial crisis. In response to the severe issue of financial crisis the IASB has established a Financial Crisis Advisory Group. The FCAG has by far concluded that the revised standard should also consider a review on impairment recognition, fair value recognition guidance and hedging provisions. It also opined that applicable standards did not consider different business models which were adopted by such entities. Further, the fair value recognition should not be considered a suitable basis for recognition of every financial instrument. It was also concluded that the biggest setback was the attitude of the companies to just legally comply the accounting standards and ignoring the principles contained in the standards up to a certain extent. It also reached to the conclusion that detailed understanding is needed in illiquid markets for recognition of fair value instruments. Furthermore, a series of actions were also taken by IASB in response to the crisis such as the proposals for improving the accounting of off balance sheet items were made and the possible difference between the approaches followed in IFRS a nd GAAP were clarified by issuing the guidance thereupon (Australian Accounting Standard Board, n.d.) The IASB through its remarkable efforts has been able to control the severity of the global financial crisis on the world economy but the fact that accounting for recognition of financial instruments needs to be changed from time to time, its responsibility has not ended there. It needs to develop the more simplified and high quality standards on financial instruments so as to satisfy all the stakeholders including investors of the companies and political bodies influencing their existence. Amendments to the accounting standards in response to Global Financial Crisis IAS 39 was highly criticized especially by the banks because of its complexities and the possible consequences of the use of mark to market methods of measuring the financial instruments. The banks have suggested that the market to market valuation would not always help in reflecting the fair value of some assets and thereby contributed to the credit crisis by weakening the balance sheet of banks. In order to deal with this problem IASB has introduced amendments to IAS 39 to reclassify the financial instruments. This revision was made with the motive of simplifying the financial instruments classification. The new approach followed by IASB constitutes primarily merely two classes of financial instruments: instruments measured on the fair value basis and the others which are valued at amortized value. The earlier IAS 39 prescribed the complex classification of financial instruments which included four classes of financial assets and two classes of financial liabilities. This approach of IASB was extremely difficult to be followed by the reporting entities and the companies were taking undue advantages of fair value accounting. IFRS 13, Fair Value Measurement, issued by IASB in May 2011 and explains the concept of fair value. It provides the framework to measure the fair values and also prescribes the material disclosures in relation to measurement of fair value. IASB wanted to increase the disclosures about the fair value so that the intended users could make better assessment of the valuation techniques which were used in determining the fair value. The IFRS 9, Financial Instruments, was aimed at the replacement of IAS 39, Financial Instruments Recognition and Measurement. IFRS 9 is aiming towards the further developments which are in progress in relation to impairment, derivatives and hedging. There is an increased focus on the fair value accounting as well as reporting as it is important for providing both reliable and relevant information to intended users of financial reports. Also, IFRS 9 has lessened the degree of judgment in classifying and accounting the financial assets, which must support uniform financial reporting in relation to the financial assets and contribute to better understanding and comparison of financial information. The overall impact of this IFRS is that there is enhanced focus on accounting of financial assets on the basis of fair value instead of use of other basis of measurements like amortized or historical cost. AASBs response to the Global Financial Crisis Australian Accounting Standard Board is the regulatory body existing for the development issuance and the maintenance of accounting standards and the related pronouncements in Australia. Like the other economies of world Australian economy was also affected by the financial crisis that occurred globally. In order to respond to the severe issues of credit crisis AASB had promptly decided to revise the Australian accounting standards. The accounting standards formulated by the AASB were amended to ensure their consistency with the new standards that were prescribed by International Accounting Standard Board (PKF Australia, 2015). These amendments were made to ensure that the business entities in Australia are able in using those accounting treatments that are in consistence with those standards that are applicable in other countries (Claessens, 2010). The amendments made by AASB are retrospectively effective from 1st July 2008. AASB then decided to quickly respond to the IASBs action o f amendment to IAS 39 and IFRS 7, AASB issued the amendments to AASB 139 and AASB 7. The biggest challenge for IASB and FASB was to enhance the investors faith and confidence in financial reporting and also to help boards across the world to identify accounting issues that are significant and requires immediate attention of them. In order to discuss these accounting issues IASB conducted various round table meetings in Tokyo, London and New York. Participant countries in those meetings were asked for help to identify significant accounting issues that should be given immediate and long run consideration. At that time the chairperson of AASB also participated in Tokyo Roundtable meeting. IASB through its various initiatives and projects is trying to increase the confidence of investors in financial reporting through: Improving the disclosure and accounting requirements for off balance sheet items. These proposed disclosures are made part of consolidated financial statements ED 171 which are equivalent of AASB to ISAB ED 10 (Hughes Hoy, 2013). Clarifying accounting treatment regarding embedded derivatives in financial statements which needs classification using fair value accounting through the profit statements in accordance with amendments brought in IAS 39 in year 2008. The AASB from time to time has commented upon all these IASB initiatives to ensure that its standards converge with the IFRS and important and relevant improvements are made to Australian standards (Australian Government, 2008). References list: Anamaria, S. and M?d?lina, M., 2014. The Evolution of the Fair Value Accounting-A Response to the Global Financial Crisis.Ovidius University Annals, Series Economic Sciences,14(2). Australian Accounting Standard Board, n.d., How standard setters are dealing with the credit crisis: available at: https://www.aasb.gov.au/admin/file/content2/c7/Article_update_on_credit_crisis_1235697565128.pdf (assessed on: 29.09.2017) Australian Government, 2008, Australian Accounting Standards Amended in Global Action to Address Impact of Credit Crisis: available at: https://ministers.treasury.gov.au/DisplayDocs.aspx?doc=pressreleases/2008/067.htmpageID=003min=njsYear=DocType= (assessed on: 29.09.2017) Claessens, S., DellAriccia, G., Igan, D. and Laeven, L., 2010. Cross-country experiences and policy implications from the global financial crisis.Economic Policy,25(62), pp.267-293. GAA ACCOUNTING: The Journal of the Global Accounting Alliance, 2017, Are Accounting Standards Responsible for the Global Financial Crisis, available at: https://www.gaaaccounting.com/are-accounting-standards-responsible-for-the-global-financial-crisis/ (assessed on: 29.09.2017) Hughes, M. and Hoy, S., 2013. Two Steps Backward and One Step Forward: The IASB's Response to Off-Balance Sheet Financing Through Investments in Other Entities. Jarolim, N. ppinger, C., 2012, ACRN Journal of Finance and Risk Perspectives, Fair Value Accounting in Times of Financial Crisis, Vol. 1, pp. 67-90. Mishkin, F.S., 2011. Over the cliff: From the subprime to the global financial crisis.The Journal of Economic Perspectives,25(1), pp.49-70. Ojo, M., 2010. The Role of the IASB and Auditing Standards in the Aftermath of the 2008/2009 Financial Crisis.European Law Journal,16(5), pp.604-623. PKF Australia: Accountants and Business Advisers, 2015, IASB concludes its response to the global financial crisis, available at: https://www.pkf.com.au/blog/2015/iasb-concludes-its-response-to-the-global-financial-crisis/ (assessed on: 29.09.2017) Pozen, R.C., 2009, Crisis Management, Is it fair to blame fair value accounting for financial crisis? Available at: https://hbr.org/2009/11/is-it-fair-to-blame-fair-value-accounting-for-the-financial-crisis (assessed on 29.09.2017) Shiller, R.J., 2012.The subprime solution: how today's global financial crisis happened, and what to do about it. Princeton University Press.