Conceptual Framework And Why Is It Needed Accounting Essay

Conceptual Framework And Why Is It Needed Accounting Essay According to FASB, the conceptual framework is a coherent system of interrelated objectives and fundamental concepts that prescribes the nature, function, and limits of financial accounting and reporting and that is expected to lead to consistent guidance. It is intended to serve the public interest by providing structure and direction to financial accounting and reporting to facilitate the provision of unbiased financial and related information. In short, conceptual framework establishes the concepts that underlie financial reporting and it serves as a guidance to flow consistently from an objective by showing a set of theory of accounting with concepts which are prepared by a standard-setting board. Elliott Elliott, 2009 stated that it also determines bounds for judgement in preparing financial statements as it increases financial statement users understanding of, and confidence in, financial statements and enhances comparability. Standard settings are based on individual or personal concept. However, with the presence of conceptual framework, more useful and more consistence pronouncements will be issued over time and thus, a coherent system will be developed. Another need of conceptual framework is that, profession users should be able to more quickly solve new and emerging practical problems by referring to an existing framework of basic theory. All regulatory bodies have been flayed because they have used piecemeal approaches, solving one accounting issue at a time. Observers have alleged that not enough tidy rationality has been used in the process of accounting policymaking. Again and again, critics have cited a need for a conceptual framework. (Horngren 1981, p.94) Body the argument Hines (1989, p.89) argues that conceptual frameworks are a strategic manoeuvre for providing legitimacy to standard-setting boards during periods of competition or threatened government intervention. The basis of Hines argument is that standard-setting boards they established concepts such as objectivity, reliability or neutrality to act as a platform to legitimate its profession. As one of the main obstacles against which accountants have continually had to struggle in their professionalization quest, has been the threat of an apparent absence of a formal body of accounting knowledge, and that creating the perception of possessing such knowledge has been an important part of creating and reproducing their social identity as a profession. This could thus lead to the intervention of the outsiders such as the government, due to its instability. However, the concepts or known as conceptual framework projects are created to sustain the perception that financial accounting professions has been, or at the very least, is capable of having a formal knowledge base from which practices and standards derive. This could be why some researchers believe that conceptual framework could play another more political role, in reducing the threat of government intervention. It is said to be a strategic manoeuvre for providing legitimacy to standard setting boards because it assist in socially constructing the appearance of a coherent differentiated knowledge base for accounting standards. These projects however still remained to exist and are continually undertaken by professionals even if they have generally failed to accomplish their stated functional purposes. This could explain why a conceptual framework does not exist in countries where governmental agency is in charge of standard setting. Countries such as the United Kingdom, United States of America, Canada and Australia were some of the countries which first developed the national accounting conceptual framework and these are the countries where standard setting has pretty much been delegated to the accounting profession. These professional accountants have succeeded to a substantial degree in their professionalization project where they are largely self-regulated. On the other hand, conceptual framework projects have not been undertaken in France, Germany or Japan where accounting rules is largely determined by government legislation. Stated by Hines, government legislation of accounting procedures does not r equire the authority and legitimacy of an image of a coherent theoretical foundation. (Hines, 1989:86) The history of conceptual frameworks does appear to provide some support for Hines perspective. Peasnell (1982) have discussed five conceptual framework projects which are undertaken in the United Kingdom, United States of America and Canada; which each circumstance suggests that they were strategic responses undertaken by accounting bodies at times of threat to their legitimacy or during periods of competition or threatened government intervention. First of the five projects was the formation of the Accounting Principles Board (APB) by the American Institute of Certified Public Accountants (AICPA) in the 1959 which resulted mounting professional and legal criticisms on both the quality of corporate reporting practices and the early attempts of the AICPA to remedy matters. (Peasnell, 1982, p.244) APB was criticised by government and also being rejected by the industry. However, the criticisms were then suppressed about five years later after the approval of APB Statement No.4 (APBS4) which states Basic Concepts and Accounting Principles Underlying Financial Statements of Business enterprises. (Peasnell, 1982, p.245) However, the failed results from the first project had doubled. The second project was the FASB which was established as recommended by the Wheat Report (AICPA, 1972) and also the publication of Trueblood Report (AICPA, 1973). The latter in effect, handed over to the newly established FASB, was also criticised and opposed by the industry and was not acted upon by the FASB. According to Peasnell (1982), the third conceptual framework project was bespoke in the United Kingdom by the Accounting Standards Steering Committee as The Corporate Report (ASC, 1975). As discussed by Hopwood (1988), this report is an attempt to outline some of the possible implications for corporate reporting of a change in the social and political environment. However, there are no significant challenge to its legitimacy and thus, this report was treated with indifference. The forth conceptual framework attempt discussed is the conceptual framework established by the Financial Accounting Standard Board (FASB). It is established in response to the criticisms of the professions standard setting and was subject to the onus of demonstrating its authority and legitimacy to set standards. It has becoming apparent that the accounting standards being set could lead to significant economic consequences, both to business and even nationally. The final conceptual framework projects discussed by Peasnell (1982) is bespoke on behalf of the Canadian Institute of Chartered Accountants (CICA, 1980) and the work was commenced at the time when the body was under threat for reform and criticisms of accounting standards setting in Canada. The circumstances to counter these issues are that they are used as a strategic resource in competition with other groups which are pursuing professionalization and threatening the autonomy and monopoly of entrenched organisations. Conclusion The conceptual framework first started off by emerging in the accounting area as a solution to the inconsistencies of standards which had led to a low legitimacy of standard setting bodies. It had eventually becoming a useful tool for account preparers when preparing reports. However, as defended by Hines and some other authors such as Peasnell, 1982, its main function could be a political one. It has been argued and criticised continuously that conceptual frameworks are a strategic manoeuvre for providing legitimacy to standard-setting boards during periods of competition or threatened government intervention and the history of the development of conceptual frameworks which supports Hines position has proved so. Moreover, according to Peasnell (1982), the only way to prove that standards are developing in a fair, logical and highly professional manner is by having both responsibility and power of developing standards delegated to the same body, like the IASB. Establishing consistent principles will constitute guidance for the production of standards. It is not only a technical tool for the standard setter but also a way of preserving its independence. Lastly, with consistent principles, the standard setter is supposed to be better armed to promote its standards and to avoid lobbying pressure.

The ICC and Southeast Asia Essay -- Foreign Relations

The International Criminal Court was formally established 1 July 2002. â€Å"The statue which exercises jurisdiction over four crimes – genocide, crimes against humanity, war crimes, and crimes of aggression (applicable only after a further provision defining aggression and conditions of jurisdiction is adopted).† (Toon, 2004: 1). The ICC is considered to be a court that is a last resort. It was implemented for heinous crimes that are committed to be used when states (countries such as Southeast Asia) are not willing or not able to provide justice for such crimes to the victims. To date, Southeast Asia has only two of their eleven states that have implemented the ICC which are Cambodia and Timor – Leste. Third world countries have a hard time with prioritizing their affairs. With economic hardships, terrorism, and socio-political taking the precedence over justice for individuals that are victims of the above crimes. There are many questions that have been established in regards to why countries, South East Asia in particular have not become part of the ICC. The author, Valeriane Toon, presents to her readers some questions as to why Southeast Asia has not accepted the International Criminal Court. â€Å"Is it the fear of setting a precedent by consenting to the subjugation of territorial integrity on ethical grounds, which could culminate in a spontaneous compromise of state sovereignty once this, is ensconced into customary law, as articulated by numerous major powers? Or is it simply a rejection of terms propounded by the Statue† (Toon, 2004: 1)? The other main question that cannot be overlooked is how much influence does the United States may have over the governments of Southeast Asia† (Toon, 2004: 1)? Though Toon provides o... ...ow are they able to provide justice when (unfortunately) justice cost money. Toon says that, â€Å"Certain segments of the government are not in favor of the ICC, conscious that it can curb the extent of their liberty and swiftness in the execution of national policies (Toon, 2004: 6). However, the logical conclusion of this would be to amend such factors that infringe on the governments’ ability to provide swift justice. Works Cited Toon, Valeriane. â€Å"International criminal court: reservation of non-state parties in southeast Asia.† Contemporary Southeast Asia 26.2 (2004), 218+. Berman, Franklin. â€Å"The International Criminal Court†, paper presented at the Fourth International Law Seminar, Singapore, 2 September 2000. â€Å"Coalition for the international Criminal Court, Spring Semester 2012, http://www.icrc.org/eng/assets/files/other/irrc_861_wenqi.pdf.

Children and War Essay

How do children experience war and what coping assistance do they need from adults? What can we do to raise children in war torn times. According to a report by the London based International Coalition to Stop the Use of Child Soldiers, an estimated 300,000 children in more than 80 countries are participating in armed conflict. I personally feel that children experience war because adults bring them into this conflict. Professor Henninger mentioned in his post, â€Å"Culture plays a big part,† in how children around the world experience war. Children are seen as innocent and many times are used as undetectable threats in war zones because who would suspect that a child is carrying a bomb or other various weapon devices such as hand-grenades and high powered guns. According to my research on this topic, children are used to having a safe haven and during war safety cannot be a permanent item, which is what children will need. The class text mentions that children’s memory is affected by not so pleasant images of being around a war zone, children can become desensitized to violence which could cause children to display violent behavior; reasoning on moral issues are affected, plus numerous other issues such as anxiety and depression are items children experience during war. It is unfortunate during war time in various areas, young girls can become victims of rape and often young girls are used as â€Å"Soldiers wives† in various foreign countries (Garbarino, Kostelny & Dubrow 1998), where they are made to live in slavery and care for the soldiers every need, which includes intimate needs. This is why some of these young girls become pregnant and are then often time abandoned while the solider finds a new young female victim. Research has shown that once these young girls have babies, they seen as outcast and cannot return back to their regular family unit, due to most family members have been killed due to war zones. Young female and male children both experience major disruption to their family unit. I have seen on new reports where children became instant orphans and most likely saw their parent or parents murdered during war and then the child is left to care for themselves or many times they may have to care for other siblings. Young males may lose their fathers permanently due to war and this loss may place this young man as the â€Å"Head of household†, where their maturity level is not consistent (Weisenmiller) with taking over such as important role for the family. Coping Assistance for Children of War How children will experience war is also based on how the adults around them handle the situation. For example, if the parent is able to be with the child by offering comfort during such a climatic time and by being upfront with the child or children of what is happening, this will help ease the anxiety caused by war. The United Nations in the past held special sessions on how to deter the affects of war on children who live in war zones on a worldwide level. Special curriculums have been set-up in many war torn countries to allow children to either discuss, draw, or play act events that occurred to them during war, so they share their story and not hold things in, which could cause more stress in their young life. Assistant for children involved financial backing, which many times under developed countries do not have the mean, so international help organizations cans step in and provide the children with the physical and psychological help they would need to recover. Children need coping assistance that will help provide their basic everyday needs such as food, shelter, reassurance of safety and assistance with social development. Social programs such a UNICEF, Salvation Army, Red Cross, along with family, friends and the community will help children cope during times of war. When a child is raised in war torn times, they need to feel valued and make them become part of the community again by assisting in keeping them in school, healthy, have food and water available. Children need truthful information provided to them during war times because it is very important that they have an understanding of what is happening around them. Overall, support from parents, the community, friendly nations is important in helping to raise children during war time, and also help the child keep a sense of childhood when war issues arise. References: Berk, Laura E. (2009), Child Development Eight Edition. Pearson Education Clements, Paul T, Jr., PhD,R.N., C.S. (2001). Terrorism in America: How do we tell the children? Journal of Psychosocial Nursing & Mental Health Services, 39(11), 8-10. Retrieved from http://search.proquest.com/docview/225547648?accountid=828 Garbarino, J., Kostelny, K., & Dubrow, N. (1998). No place to be a child: Growing up in a war zone. Jossey-Bass Weisenmiller, M. (2007, May 11). Health: Trauma haunts children in war zones. Global Information Network. Retrieved from http://search.proquest.com/docview/457557903?accountid=8289

Hamlets Sanity Essay - 1522 Words

Hamlets Sanity Throughout Shakespeare?s play, Hamlet, the main character, young Hamlet, is faced with the responsibility of attaining vengeance for his father?s murder. He decides to feign madness as part of his plan to gain the opportunity to kill Claudius. As the play progresses, his depiction of a madman becomes increasingly believable, and the characters around him react accordingly. However, through his inner thoughts and the apparent reasons for his actions, it is clear that he is not really mad and is simply an actor simulating insanity in order to fulfill his duty to his father. Hamlet only claims madness because it allows him to say and perform actions he otherwise would be prohibited from, while keeping people from†¦show more content†¦On the other hand, Hamlet acts perfectly sane when acting insane is unnecessary. When he talks to Horatio about watching Claudius for signs of guilt during the play, he says ?Give him heedful note, for I mine eyes will rivet his face, and, after, we will both our judgments join in censure of his seeming (3.2.87).? His words to Horatio are those of a sane man. Horatio is one of the few people to whom he does not need to prove he is ?insane,? and as such, he does not try. Also, when he is explaining to the players how to act, he is surprisingly organized and natural sounding. For example, he asks ?You could, for a need, study a speech of some dozen or sixteen lines, which I would set down and insert in ?t, could you not (2.2.565) His question is direct and simple as all his instructions are, and it seems that the play er not only understands completely, but also is comfortable with Hamlet and what he asks. It is much more plausible that a sane man could play an insane one, than an insane man could play a sane one, and so reason would deem Hamlet sensible. Additional proof that Hamlet must be sane is that even in his ?madness? he is clever in his retorts and speech, and has a full understanding of the situations around him. He plays his madman character almost too well, and each phrase he utters appears to be an attempt towards conveying hisShow MoreRelatedEssay Hamlets Flaws and Sanity1085 Words   |  5 Pagesbe, or not to be† which I find best to describe Hamlet’s character. Hamlet was given the task to avenge his father’s death. As the story progress Hamlet begins to question his worthiness, questioning his very existence. Hamlet’s emotions influence his every action throughout the story. Hamlet is not the typical hero that readers label; he has many imperfections and displays his own manner of heroism. 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Existentialist philosopher Friedrich Nietzche says, â€Å"There is always some madnessRead MoreHamlet: Sanity vs Insanity Essay878 Words   |  4 Pagesat what point the stops pretending and starts actually being crazy?. In Hamlet by William Shakespeare, the way others interpret Hamlets behavior is different from the way Hamlet views himself. Hamlet is in a situation where his sanity is turning into insanity. He is like one of those people who tell so many lies that they start believing their own lies. Hamlets acting is so vivid to him that, unconsciously, his state of mind has become irrational. He is turning against everyone in order toRead MoreHamlets Loss of Faith1323 Words   |  6 PagesHamlet, Hamlet’s uncle Claudius, murders Hamlet’s father to inherit the crown of Denmark and the love of Hamlet’s mother, Gertrude. Throughout the play there are six soliloquies that reveal the character of Hamlet and others. 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