Statistics 401 Mod 4 SLP - Regression Analysis Coursework

Insights 401 Mod 4 SLP - Regression Analysis - Coursework Example The focuses so shaped when the variable estimations of SAL are plotted against the variable estimations of the DJIA would have a line of best fit which can be connected to a particular scientific recipe. The numerical formulae may be direct, exponential, logarithmic, polynomial, moving normal and so forth. By utilizing this formulae, it is conceivable to make expectations of different estimations of the variable SAL and the variable estimations of the DJIA given the relating variable qualities. The following is a duplicate of the information that I have gathered to date:- SEX AGE SAL(K) DJIA 1 39 23 14 2 29 33 16 2 18 32 16 1 21 54 12 1 50 48 18 2 49 37 16 1 62 70 15 2 23 12 1 20 36 13 1 30 35 14 2 32 21 11 1 48 55 16 This information shapes a relapse example and without a doubt can be utilized for the forecast of a comparing component of the information given one. My stock's end cost can be resolved from the end estimation of the DJIA. The invalid theory of this dissemination is tha t â€Å"My stock's end cost can't be resolved from the end estimation of the DJIA†. It is typically an announcement in nullification structure which this one is unequivocally. Then again, the elective theory is that; â€Å"My stock's end cost can be resolved from the end estimation of the DJIA†. ... In the in any case, at that point the invalid theory isn't right and the elective speculation is taken as the correct goals. I figured a straightforward relapse utilizing the estimations of the SAL factors as the Y-esteem and the estimations of the DJIA factors as the X-values. By so doing, I found the relapse results as appeared in the screen short beneath. As can be seen from the outcomes, their in reality is a slight connection between My stock's end cost and the end estimation of the DJIA. The p-esteem from the outcomes is extremely enormous as it is 2.8. this p-esteem is a lot bigger than the worthy estimation of 0.5. It sets up that without a doubt the invalid theory is valid. In such manner, I can easily say that to some incredible degree, My stock's end cost can't be resolved from the end estimation of the DJIA. This infers different systems must be utilized with an end goal to build up my stock's end cost. REFERENCES Soper, H.E., Young, A.W., Cave, B.M., Lee, A., Pearson, K. (1917). On the dispersion of the relationship coefficient in little examples. Index II to the papers of Understudy and R. A. Fisher. A co-employable examination, Biometrika, 11, 328-413.

Putting the Kibosh on Chillaxing, Czars, More - The Writers For Hire

Bringing an end to CHILLAXING, CZARS, AND MORE I don’t think about you, however I choke only a little when somebody discusses a ‘teachable moment’ †and, obviously, so do the people at Lake Superior State University. Workable second is only one of the passages on LSSU’s 2010 rundown of words that ought to be prohibited from our jargon due to â€Å"mis-use, over-use, and general uselessness.† LSSU’s whimsical rundown has been going solid since 1977 and has included such pearls as ‘you know’ and ‘user friendly.’ Others that made the 2010 rundown? Dictator, chillax, tweeting, straightforwardness, application, and the ever-well known harbinger of awful news in these monetary occasions. All in all, what do you think? What words do you believe are deserving of being restricted in 2010? My very own couple recommendations: drill down, reverberate, and influence.

English Grammar 101 The 8 Primary Parts of Speech

English Grammar 101 The 8 Primary Parts of Speech EP 30: English Grammar 101: The 8 Primary Parts of Speech EP 30: English Grammar 101: The 8 Primary Parts of Speech This week we continue our weekly mini series. We are investigating the foundations of English grammar, starting with the basics and moving on from there. This week we discuss the 8 primary parts of speech and how they can improve your capacity to communicate. Join Cath Anne as she reviews the foundations of English grammar. Looking for study tips, help with essay writing, or advice on how to be a better student? Welcome to The Homework Help Show, a weekly show where we teach, assist, and offer valuable insights for student life. From study hacks to writing tips, discussions about student mental health to step-by-step guides on academic writing and how to write a resume, weve got you covered. Want your questions answered? Write them below or join the conversation on social media using the hashtag #askHHG TRANSCRIPT: Cath Anne: [00:00:05] Hey guys. Im Cath Anne and welcome to the Homework Help Show. I cant believe that is already Episode 30 of the show. In this show, for those of you who dont know, we provide you with content for your academic and student life. Cath Anne: [00:00:26] Just a quick reminder before we do jump into the content, every Monday at 7pm Eastern Standard Time you can join me live on Instagram and we will just have a quick chat and Ill remind you to check out some of our videos. Love to see you guys there. Cath Anne: [00:00:48] This week we are returning to our Grammar 101 series and we are going to talk about the parts of speech. All words in the language classified as one of the parts of speech. Understanding these different parts of speech can allow you to communicate more fluently, it can allow you to write more quality essays, it can help you to punctuate sentences properly. These are all the foundations of learning to speak and write in English. These tips can be helpful for anyone even if you are a native English speaker. It always helps to get back to the foundations of the language and to re-learn a few of these skills. So, if youre interested, continue watching. Cath Anne: [00:01:28] The 8 parts of speech are nouns, pronouns, verbs, adjectives, adverbs, prepositions and conjunctions. Last week we discussed nouns and pronouns and this week we are going to give you a brief overview of the other parts of speech. You can feel free to pause the video at any time to stop and take notes, read what Ive put on the board, if thats of benefit to you. Cath Anne: [00:02:04] Lets start with the verb. A verb is a word that describes an action or a state of being. Now, the second part of the definition here is really important as many believe that verbs are only words that indicate an action or that can be visualized. This is true of words like, walk, run, jump, play, sing, laugh, dance. Cath Anne: [00:02:40] Those are all words that indicate actions. Our options. However, there are also linking verbs and these are words that indicate a state of being, classification or existence. The following are the most common linking-verbs: is, am, were, was. And then we also have verb phrases ending in be, been and being. So, keep in mind that these are all verbs as well even though they dont indicate blatant action. Cath Anne: [00:03:15] Another thing to remember is that verbs often change their ending to indicate a temporal relationship or a relationship to time. This is referred to as verb tense. For example, walk is the present tense of the verb to walk and walked with an ed added to it indicates the past tense of the verb walk. Cath Anne: [00:03:43] So, as you see there, we change the verb tense depending on its relationship to time. Cath Anne: [00:03:53] Moving on to the adjectives. An adjective modifies, limits, or describes a noun or a pronoun. Essentially it provides more information about the person, place or thing it is describing. For example, in the sentence, Frank is a tall, skinny man can you guess which are the adjectives? Tall and skinny are both adjectives because they describe the, noun or the subject, who is Frank. Cath Anne: [00:04:30] Then we have adverbs. They are certainly similar to adjectives, but they act in the same way towards verbs. So, they modify a verb. You might recognize adverbs because they generally tend to end in ly. Cath Anne: [00:04:48] So, for example, in a sentence, Susan walked slowly towards the door, the adverb would be the word slowly, because it describes how Susan walked. Cath Anne: [00:05:11] A preposition shows the relationship between a noun and a verb. this one is also in relation to time, or space, or direction. Cath Anne: [00:05:22] Now, Ill explain this a little bit more. So, for instance, lets take the sentence, Mark walked toward the door. The word toward is a preposition because it indicates that Mark is walking in a certain direction. When linked with nouns and pronouns, prepositions create phrases that are called prepositional phrases. So, for example, in the sentence I just gave you, toward the door is considered a prepositional phrase because it ends with the word toward. Cath Anne: [00:06:03] Finally, we have conjunctions. These ones are really quite fun. Conjunctions are used to link words and parts of sentences together. They can also be considered joining words. There are four different types of conjunctions. We have coordinating conjunctions, we have subordinating conjunctions, we have conjunctive adverbs, and we have correlative conjunctions. Dont worry, Ill walk you through. Cath Anne: [00:06:31] Such. Dont worry a lot. So, coordinating conjunctions are words like: for, and, Nor, but, or, yet, so. Cath Anne: [00:06:47] They are used to connect similar words or independent clauses, in other words, sentences together. Coordinating conjunctions are often referred to as FANBOYS. That can help you to remember all the words that are in coordinating conjunctions. Cath Anne: [00:07:14] Subordinating conjunctions come at the beginning of a subordinate clause. They are used to connect the subordinate clause to the rest of the sentence. They can also be referred to as the independent clause. Common subordinating conjunctions are: after, although, because, before, even though, if, once, rather than, since that, though, unless, until, whenever, whereas, and while. That was a lot of words. For example, I went to the cafeteria before I went to class. Cath Anne: [00:07:58] The word before connects the subordinate clause, I went to class with the independent clause, I went to the cafeteria. So, the word before was a conjunction because it joins those two clauses. Cath Anne: [00:08:19] We then have conjunctive adverbs, and these are going to be really important for you guys, so, make sure you pay attention here. These are transitional words used to connect one sentence to another. Cath Anne: [00:08:20] Common conjunctive adverbs include: additionally, in addition, moreover, also, however, for example, in conclusion. You probably recognize ones a little bit. This is because conjunctive adverbs can be really helpful when you are writing an essay. There many times that you will want your essay to flow so you will use a conjunctive adverb to join one sentence with another and continue your thought process. Definitely, take note of those and use them in your writing. Cath Anne: [00:09:14] Then, last but not least, we have correlative conjunctions. They are a combination of coordinating conjunctions with another word. For example, in the sentence, Both John and I are having a hard time at homework, both and and would be considered correlative conjunctions because as you can see they join the sentence together. They join John and I together and they make the sentence flow properly. Cath Anne: [00:09:53] Okay, so, I hope that was of benefit to you. If you do have any questions, please leave them in the comments below. Cath Anne: [00:10:01] Next week, we will be getting into the nitty gritty and more substantial content around grammar. We will be talking about how to use one word versus another word. We will be talking about a variety of words and how to use them in different cases in the English language. Sometimes they can be confusing. So, we will talk about that and we will talk about some of the common errors that are made as well. Cath Anne: [00:10:30] If you did like this video and you want to see more of our content, check us out on Facebook, Instagram, LinkedIn, Medium, Spotify SoundCloud, Anchor, iTunes Apple Podcast, Google Play Music and of course right here on YouTube. If you did like this video and you want to see more of us give us a thumbs up. It would really help us and also subscribe to our channel to keep in the loop. Thats it for me this week guys. I hope to talk to you soon. I hope this was of benefit. Take care.

Student Exercise and Badminton Club Essay - 1048 Words

HEALTH AND PHYSICAL EDUCATION Year 11 Physical Education Participation in Physical Activity – Badminton Written by Valeria Ponzin Badminton and Figueroa’s Framework Introduction The purpose of this research is to connect Figueroa’s Framework to my decision to join or not a badminton club. After close examination I choose the 2 levels that for me have the most significant impact on people’s decision on sports and describe them linking with badminton. Badminton Badminton is a racquet sport played by either two opposing players (singles) or two opposing pairs (doubles), who take positions on opposite halves of a rectangular court divided by a net. Players score points by striking a shuttlecock with their racquet so that it†¦show more content†¦I believe that playing a sport is important, not only for having a positive body image, but also for having fun outside of school and family, doing some health exercise and sometimes also relaxing and don’t think about problems. I’m doing athletics for five years, the track is 10 minutes far from my house, there are a lot of my friends and it is cheap: these were the first things that influenced me for choosing this sport. Now I’m doing it because I’m good at it and I’m happy when I run. The importance of exercise for me is high because it contributes for live a healthy and happy life, and it reduces a lot the stress caused by school exams or other factors. I like having a positive self-image because when I look at the mirror I feel good if I see that after exercising there are good results on my body. I don’t like to be concentrated when I play and in badminton you have to always look at the shuttlecock and be prepared to move fast to catch it. It is also important the cost, the location and the time available. Structured sport is not cheap. For many families, the rising costs associated with sport mean that they can’t afford to let their children to participate. Some sports are also significantly cheaper than others, and this has been shown to influence parents’ decisions about the type of sport in which they enrol their children. The decision about whether to play sport and whichShow MoreRelatedStudy Case Report1106 Words   |  5 Pagespurpose of this report was to investigate a student sport club at a private university in Jakarta, which is called Badminton at BINUS University. Badminton is a non-profit Sport organization for undergraduate and graduate students of any major studying at BINUS University. Its main purpose is to develop its members Badminton skills by providing Smash, Service, Backhand, Loop, Netting, and etc. Badminton has actively participated in Binus Badminton Club, Sparing inside and outside city, PORSINORARead MoreRole Of Physical Activities On Growth And Development Essay1252 Words   |  6 PagesStudent Assignment Growth and Development Module/2015/3rd term/2nd grade By Rifqha Aulina, 1406642454 Role of Physical Activities in Growth and Development 1. What will be the activity of choice for preschool children developing increased body mass index? Increased BMI is most oftenly related with sedentary lifestyle. There is an increasing trend of sitting for a long amount of time in children. This is due to the development of technology such as television, computer games, mobile phones, etcRead More1 Student 1 Sport Policy1750 Words   |  7 Pagesalso skills such as strategic thinking and teamwork can be learnt. Most pupils have benefitted from participation in various sports, but most voluntarily participated in the sport activities of their choice. Sports serve as an excellent physical exercise. Those who play sports have a more positive body image than those who do not. Sports often involve physical activities like running, jumping, stretching and moving about which turn out to be a good body workout. Playing sports is energy put to goodRead MoreImportance of Sports2054 Words   |  9 Pagesachievement among students. However, it remains unclear whether associations are due to the physical activity itself or  sports  tea m participation, which may involve requirements for maintaining certain grades, for example. The purpose of this study is to examine the associations between  sports  team participation, physical activity, and academic outcomes in middle and high school students. Methods: Data were drawn from Project EAT (Eating Among Teens), a survey of middle and high school students (n = 4746)Read MoreLOG BOOK Contemporary Dance Nyp1821 Words   |  8 Pagesthe performance of all the students who enroll in the co-curriculum course will be evaluated through marks, and graded. However, the grades will not contribute to the GPA and CGPA. Games/Sports Cultural courses are evaluated based on the following: i. Attendance 20% ii. Log Book 20% iii. Involvement 10% iv. Achievement 10% v. Technical skills 1 20% vi. Technical skills 2 20% Attendance 1. Students who are absent from the Co-curriculumRead MoreNorthwest Missouri State University Case Study1616 Words   |  7 Pageshave a numerous amount of majors and make it easy for first time freshman, transfer students, and international students to apply. NWMSU has many activities for everybody including intramurals, concerts, and recreation centers. They have many different options for housing and meal plans, which they also make very affordable for everybody. Northwest Missouri State also offers in-state tuition to out of state students that meet the requirements. The University is in a town of 12,000 and is one of theRead MoreMy Fascination with Biotechnology Application Essay946 Words   |  4 Pageswhich has been known for its excellence in both, teaching and research. In addition to that, the universities in the UK and their facilities are safeguarded by the Quality Assurance Agency. Furthermore, in every five years, the Research Assessment Exercise will test the researc h quality undertaken by each university to improve their standard and quality of education. This will offer me opportunity to experience effective education both in theory and practical for my postgraduate study. Moreover, mostRead MoreThe Meaning of Sports2530 Words   |  11 Pagesbut the oldest definition of â€Å"sport† in English (1300) is of anything humans find amusing or entertaining. Other meanings include gambling and events staged for the purpose of gambling; hunting; and games and diversions, including ones that require exercise. Rogets defines the noun sport as an activity engaged in for relaxation and amusement with synonyms including diversion and recreation. In todays world sports is generally defined as all forms of physical activity which aim is to use, maintainRead MoreThe Meaning of Sports2537 Words   |  11 Pagesbut the oldest definition of â€Å"sport† in English (1300) is of anything humans find amusing or entertaining. Other meanings include gambling and events staged for the purpose of gambling; hunting; and games and diversions, including ones that require exercise. Rogets defines the noun sport as an activity engaged in for relaxation and amusement with synonyms including diversion and recreation. In todays world sports is generally defined as all forms of physical activity which aim is to use, maintainRead MorePhysical Fitness7979 Words   |  32 Pagesgreater variety of activities. Introducing students to activities like bowling, walking/hiking, or Frisbee at an early age can help students develop good activity habits that will carry over into adulthood. Some teachers have even begun to incorporate stress-reduction techniques such as yoga and deep-breathing. Teaching non-traditional sports to students may also provide the necessary motivation for students to increase their activity, and can help students learn about different cultures. For example

Ethnography Of Rodeo Food An Essential Component Of Many...

Ethnography of Rodeo Food Food is an essential component of many social events: it brings people from a wide variety of society together, it provides nourishment, and in modern and globally interconnected times in can even be used to share different cultures’ ideas of good food in a relaxed setting. Humans require food to survive, but the different ways that food is prepared and served is highly varied among cultures. Even how these cultures utilize food in larger social settings is widely variable. Sometimes it’s just a small gathering of families sharing food, other times it’s specialized food preparers providing food to a large number of people. Here we’ll look at one of the latter events where food plays a part. One of the larger and†¦show more content†¦One of the more classically ‘rodeo-style’ foods, barbeque, is served in huge quantities at this event, and there are many vendors that offer different styles of preparation. Barbeque is a type of food preparation that every person has their own special formula for doing, and they’re very different among various vendors. One of the vendors that’s been associated with the Houston Rodeo for a considerable length of time is Blue Ribbon Grill. They’ve participated in this event for a number of years, and because of this closeness and ability to bring in lots of customers, they’re allowed to set up their stall in a location that provides access to a large number of people; just outside the NRG Center, which houses a number of attractions, smaller events, and shopping. This location allows for a lot of foot traffic to pass by, and they’re also provided with a large shade tent that’s be en set up, which can be very appealing to people who have been walking around outside for a long portion of the day in the heat. Blue Ribbon Grill serves a variety of ‘classic’ barbecue foods: meat from the chest of a cow that’s been covered in a rub of various spices, smoked, and then sliced into thin pieces - brisket, the lower legs of turkeys that have been salted and cooked over a grill, simply known as turkey legs, and one of their foods that they’ve gained some

Accounting Answers Free Essays

string(274) " also show the date on which an allotment of shares takes place, the number of shares in each allotment, the shares held by each member, the class of shares held, the share numbers \(if any\), the amount paid on the shares, and whether or not the shares are fully paid \(s\." Solutions Manual to accompany Company Accounting 8e prepared by Ken Leo John Hoggett John Sweeting Jennie Radford [pic] John Wiley Sons Australia, Ltd 2009 Chapter 1 – Nature and regulation of companies REVIEW QUESTIONS 1. Outline the advantages of incorporation over other forms of organisation such as partnerships. The corporate form of organisation permits individuals to have â€Å"limited liability†. We will write a custom essay sample on Accounting Answers or any similar topic only for you Order Now This confers on shareholders a limit on their liability in the event of a winding up of the company to the amount (if any) unpaid on their shares. (S516). In the case of a partnership no such limitation applies (unless the partnership specifically adopts limited liability) and the insolvency of one or more partners can result in other solvent partners having to contribute any losses and debts out of their own private assets. 2. Distinguish between a proprietary company and a public company. A public company is one in which there is usually a substantial public interest in that the ownership of the company’s share capital is widely spread. Public companies are entitled to raise capital through a share issue by issuing a disclosure document which entitles them to have their shares or debentures etc. listed on a stock exchange, such as the Australian Securities Exchange, to facilitate transferability. Proprietary companies on the other hand have specific limitations in terms of the amount and restrictions on its fundraising activities. Specific features of a proprietary company include the need to have a share capital (unlike a public company which may be limited by guarantee and not merely shares): †¢ a requirement to have at least one shareholder and only one director (three directors for a public company) and not more than 50 shareholders (not including employee shareholders) †¢ not required to restrict the transfer of its shares (however it may elect to do so) †¢ the use of the designation â€Å"Pty† or â€Å"Proprietary† in its name †¢ a requirement not to engage in any fundraising activity which would require it to lodge a disclosure document with ASIC. . Distinguish between a large and a small proprietary company. What are the implications of being classified large rather than small? A small proprietary company is defined in Section 45A of Corporations Act 2001, as amended, as one which meets 2 of the following three criteria: *consolidated annual revenue less than $25 milli on *consolidated gross assets at the end of the financial year is less than $12. 5 million #l the companies and the entites it controls have fewer than 50 employees at the end of the financial year. * These figures must be determined in accordance with accounting standards Part-time employees measured at appropriate fraction of full-time If these criteria are not met the company will be a large proprietary. Small proprietary companies do not have to prepare formal financial statements or have them audited. However, they must keep sufficient accounting records to allow preparation and audit of accounts if either 5% of their voting shareholders or ASIC request this to be done. Large proprietary companies, must prepare accounts in accordance with accounting standards, have them audited, send them to shareholders and lodge them with ASIC (Section 292) 4. Outline the special features of a no-liability company. Companies engaged in the more speculative area of mining exploration are most often registered as no-liability. Such companies have NL at the end of the company name and have the advantage of being more attractive to potential investors as unlike companies limited by the unpaid amount on their shares, there is no such liability on the part of shareholders to contribute to the debts and liabilities of the companies. 5. What is the purpose of a certificate of registration? A certificate of registration is issued by ASIC as a part of the registration procedure. Provided the company complies with S117 of the Corporations Act, ASIC will: †¢ give the company an ACN Number †¢ register the company †¢ issue a certificate that states the company’s name, ACN No. etc. Once registered, the company is capable of performing all the functions of a corporate body. 6. What are replaceable rules and how do they differ from a constitution? Replaceable rules are the set of internal rules (contained in the Corporations Act) governing the conduct of its operations between the company and its member directors and between members themselves [see example of such rules in ch 1 Section 1. . 3]. If the rules are not adopted by the company then they must draw up a constitution which will cover much of the same issues covered by the replacement rules but may be extended or modified by the promoters of the company. 7. Outline the main features and purpose of a disclosure document. A disclosure document, particularly the prospectus, contains all th e information necessary for investors to make an informed assessment of the company’s future prospects and other relevant matters including: †¢ rights and liabilities attaching to securities financial position, performance and prospects of the body issuing the securities †¢ interests of each director, proposed director, promoter, stockbroker and their professional advisers in any property acquired or proposed to be acquired with the funds derived from the securities issue. †¢ whether the securities issued will be quoted on a Stock Exchange. 8. In administering a company, the Corporations Act requires the keeping of various books, registers and records. Outline these and briefly discuss their content. There are a range of records required to be maintained by a company including: (Minute books of the proceedings and decisions made at all directors’ and shareholders’ meetings as well as all resolutions passed without a meeting (s. 251A). If the company is a proprietary company with only one director, any declarations by this director must be minuted. (Financial records that will enable financial statements to be prepared and audited from time to time in accordance with the Act (ss. 286, 292, 302 and 303). (Register of members, or share register, giving each member’s name nd address, and the date on which the entry of the member’s name is made on the register. If the company has a share capital, the register must also show the date on which an allotment of shares takes place, the number of shares in each allotment, the shares held by each member, the class of shares held, the share numbers (if any), the amount paid on the shares, and whether or not the sha res are fully paid (s. You read "Accounting Answers" in category "Papers" 169). (Register of option holders to record the names and addresses of the holders of options over the shares of a company. The register must include the number and description of the shares over which options were granted, details of any event that must happen before the options can be exercised, and any consideration for the grant of the options and for the exercise of the options (s. 170). Copies of documents which grant an option over shares must be kept with this register. (Register of debenture holders to record each debenture holder’s name and address, and the amount of the debentures held (s. 171). (Register of charges to record the details of any secured charges over the assets of the company (s. 271). This register must be open for inspection by any creditor or member of the company, without charge. 9. Outline the differences between shares and debentures. Ordinary shares attract no fixed rate of dividend, carry voting rights and may participate in surplus assets and profits of the company – they represent ownership of x% of the company. Ordinary shares are classified as equity. The company may issue shares either fully paid or partly paid (s. 254A). If partly paid shares are issued, the shareholder is liable to pay calls on the shares (except in the case of no-liability companies). A company also has the right to issue preference shares, but may only do so either if there is a statement in its constitution setting out the rights of these shareholders or if these rights have been approved by a special resolution of the company. Not all preference shares are the same. Classification of preference shares as equity or liabilities depends on the rights and features of the shares – judgment is required re which classification is appropriate. For example, redeemable, cumulative 10% preference shares, which are to be redeemed on a set date, are definitely liabilities. Preference shares redeemable at the option of the company may or may not be liabilities, depending on the probability of the company redeeming them. Debentures are issued by the company raise funds but are borrowings, not equity. Debentures may be secured. A trust deed/trustee must be established to protect the rights of debenture holders. 10. What are the main reasons for the development of accounting regulations? The history of accounting regulation had its origins in the industrialised European settlement of the late 18th century. The social, political and economic changes which occurred saw the gradual decline of the importance of family enterprises and the separation of ownership from control as the control of entities was delegated by owners to agents. The growth in the number and size of ‘joint stock companies in the late nineteenth century prompted the rise of disclosure although, initially, this focused on stewardship. The greater complexity of organisations in the mid to late twentieth century gradually led such disclosure to develop into a more sophisticated form of financial reporting, which remains an ongoing process. 11. Does a company have to comply with accounting standards in order to show a ‘true and fair view’ of its financial affairs? Discuss. Before the early 1990s, the directors of a company could elect not to comply with an accounting standard issued by the AASB if they believed the particular standards would cause the accounts not to present a true and fair view. This ‘true and fair override’ no longer exists and directors must now comply with applicable accounting standards and add any additional information in the notes to the financial statements if they believe adherence to the standards does not present a true and fair view. Compliance with standards therefore has become the norm, resulting in an increased interest, both positive and negative, in the requirements of accounting standards by different lobby groups, particularly among those required to prepare financial statements. 12. What are the current arrangements for setting accounting standards in Australia? The AASB under the auspices of the Financial Reporting Council is entrusted with the task of making accounting standards both for the purposes of the Corporations Act and for the public and not-for-profit sectors in Australia. See Figure 1. 1 in section 1. 7. 5]. 13. Distinguish between the following organisations and their roles in the regulation of financial reporting in Australia: (the Financial Reporting Council (FRC) (the Australian Accounting Standards Board (AASB) (the International Accounting Standards Board (IASB) (the International Financial Reporting Interpretations Committee (IFRIC) (the Australian Securities and Investments Commissio n (ASIC) (the Australian Securities Exchange (ASX) (the Financial Reporting Panel (FRP). Financial Reporting Council (FRC) The main role of the FRC is to act as an overseer and advisory body to the standard setter, the AASB. The main functions of the FRC under the ASIC Act 1989, s. 225 as amended in 1999, are to: (oversee the process for setting accounting standards and give the Minister reports and advice on that process (appoint AASB members (other than the chairperson) (approve and monitor the AASB’s priorities, business plan, budget and staffing arrangements (determine the AASB’s broad strategic direction give the AASB directions, advice or feedback on matters of general policy and procedures (monitor the development of international accounting standards and the accounting standards that apply in major international financial centres, and –further the development of a single set of accounting standards for worldwide use with appropriate regard to international developments –promote the adoption of international best practice accounting sta ndards in the Australian accounting standard-setting process if this is in the best interests of both the private and public sectors of the Australian economy (monitor the operation of accounting standards to ensure their continued relevance and their effectiveness in achieving their objectives in respect of both the private and public sectors of the Australian economy, as well as the effectiveness of the AASB’s consultative arrangements (seek contributions towards the costs of the Australian accounting standard-setting process (monitor and periodically review the level of funding and funding arrangements for the AASB (establish appropriate consultative mechanisms advance and promote the objectives of standard setting as specified in the Act (perform any other functions that the Minister confers on the FRC by written notice to the chairperson. A major policy direction of the FRC that has affected the agenda of the AASB is the formalisation of a policy of adopting the accounti ng standards of the International Accounting Standards Board (IASB) for application to reporting periods beginning on or after 1 January 2005. (This includes also the adoption of Interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) for use in the Australian context. ) Australian Accounting Standards Board (AASB) The functions of the AASB, according to s. 27(1) of the ASIC Act 1989, are to: (develop a conceptual framework (not having the force of an accounting standard) for the purpose of evaluating proposed accounting standards and international standards (make accounting standards for the purpose of the Corporations Act (formulate accounting standards for other purposes, e. g. for non-companies, the public sector and the not-for-profit sector (participate in and contribute to the development of a single set of accounting standards for worldwide use (advance and promote the main objectives of developing accounting standards. The AASB must develop accounting standards not only for the corporate sector but also for other sectors, such as the public sector and the not-for-profit sector. The objectives of developing accounting standards are (1) to facilitate the development of accounting standards that require the provision of financial information that: (allows users to make and evaluate decisions about allocating scarce resources (helps directors to discharge their obligations in relation to financial reporting (is relevant to assessing performance, financial position, financing and investment (is relevant and reliable (facilitates comparability (is readily understandable. (2) to facilitate the Australian economy by: (reducing the cost of capital (enabling Australian entities to compete effectively overseas (having accounting standards that are clearly stated and easy to understand. (3) to maintain investor confidence in the Australian economy (including its capital markets). In performing its functions, the AASB is required to follow the broad strategic directions determined by the FRC. The AASB may formulate accounting standards which are of general or limited application, in that the Board may specify the entities, time, place or circumstance to which the standard applies. Furthermore, as long as it is practicable to do so, the AASB is required to conduct a cost–benefit analysis of the impact of a proposed accounting standard before making or formulating the standard. However, the cost–benefit analysis is not necessary where the standard is being made or formulated by issuing the text of an international standard. The AASB conducts its meetings in a forum open to the public, which (hopefully) increases faith in the due process system of standard setting. In line with the FRC’s main function of overseeing the process of setting accounting standards, the AASB is required to adopt IASB standards. The Australian accounting standards and their international counterparts are identical, with three exceptions: – Where some international accounting standards provide a range of optional treatments, the Australian accounting standard may not allow all options. However, the disallowance of any IASB optional treatments in Australia is rare, as evidenced by the AASB’s behaviour since 2005. Some Australian accounting standards may require more information to be disclosed in the notes to the financial statements than that required by the equivalent IASB standard. –Australian accounting standards contain, where applicable, extra paragraphs relevant to entities in the not-for-profit sector. IASB standards are written for application within the business sector only. Besides issuing accounting standards that are equivalent to the IASB’s standards, the AASB has continued to issue accounting standards relevant to the public sector, as well as accounting standards that relate solely to the Australian legal environment, e. g. AASB 1046 Director and Executive Disclosures by Disclosing Entities. International Accounting Standards Board (IASB) The IASB’s mission statement is described as follows on its web site: The International Accounting Standards Board is an independent, privately-funded accounting standard setter( The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements. In addition, the IASB co-operates with national accounting standard setters to achieve convergence in accounting standards around the world. Following the direction given by the FRC in 2002, the AASB has adopted the standards issued by the IASB as from 1 January 2005. Hence, the financial statements prepared by Australian companies are comparable with those prepared by entities in other countries which also have adopted IASB standards. This should allow for greater understanding of financial statements worldwide, and lead to a more efficient flow of capital acros s national boundaries. The IASB has signed an agreement with the Financial Accounting Standards Board (FASB), the body responsible for issuing accounting standards in the United States. The agreement requires both bodies to work together towards convergence of global accounting standards. The aim is to agree on high-quality solutions to existing and future accounting issues. If such agreement could be reached, potentially there would be one set of global accounting standards. Arguably, for better or worse, the result of this agreement appears to be a gradual adoption of FASB standards by the IASB as its own. International Financial Reporting Interpretations Committee (IFRIC) The IFRIC has the task of reviewing on a timely basis, within the context f existing international accounting standards and the IASB framework, accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance, with a view to reaching consensus as to the appropriate accounting tre atment. The IFRIC considers issues of reasonably widespread importance, and not issues of concern to only a small set of enterprises. The interpretations cover: (newly identified financial reporting issues not specifically dealt with in IFRSs (issues where unsatisfactory or conflicting interpretations have developed, or seem likely to develop in the absence of authoritative guidance, with a view to reaching a consensus on the appropriate treatment. The AASB has adopted the Interpretations issued by the IFRIC for use by Australian companies as from 1 January 2005, and modifies them if necessary for the not-for-profit sector in Australia. Australian Securities and Investments Commission (ASIC) The ASIC is an independent government body set up to enforce and administer the Corporations Act and financial services laws to protect consumers, investors and creditors. ASIC regulates and informs the public about Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit. The Australian Securities and Investments Commission Act 2001 requires ASIC to: (uphold the law uniformly, effectively and quickly promote confident and informed participation by investors and consumers in the financial system (make information about companies and other bodies available to the public (improve the performance of the financial system a nd the entities within it. One of the roles of ASIC is to reduce fraud and unfair practices in financial markets and financial products so that consumers can use them confidently and companies and markets can operate effectively. In an accounting context, as part of its role, ASIC also attempts to ensure that a company’s financial statements lodged with it under the requirements of the Corporations Act comply with accounting standards, if applicable. Australian Securities Exchange (ASX). The ASX is a public company operating Australia’s share markets. It oversees both the shares and future exchanges. In an accounting context, it is particularly concerned with improving the disclosure of information in the financial reports of companies listed with it on the various stock exchanges throughout Australia. It exercises its influence by way of the Listing Rules — a set of rules with which companies must comply if they wish to be listed, and remain listed, on the stock exchange. Financial Reporting Panel (FRP) The FRP, established in 2004, has the function of resolving disputes between the Australian Securities and Investments Commission and companies concerning accounting treatments in their financial reports. The purpose for establishing FRP is to remove the need to initiate legal proceedings in Court in order to resolve a financial reporting matter. FRP is designed to provide an efficient and cost effective way of dealing with disputes, the opportunity to be heard by persons with relevant expertise, and remove concerns about the courts’ limited understanding of accounting standards. 14. To which entities do accounting standards apply? Discuss the nature of a reporting entity, and consider reasons for the concept being replaced by one of public accountability. Accounting standards apply to the general-purpose financial statements/reports of entities which are â€Å"reporting entities† and also to those entities which decide to prepare general-purpose financial statements even if they are not reporting entities. The AASB, in SAC 1, provided the following definition of a reporting entity: Reporting entities are all entities (including economic entities) in respect of which it is reasonable to expect the existence of users who rely on the entity’s general purpose financial report for information that will be useful to them for making and evaluating decisions about the allocation of scarce resources. There is no definition of a reporting entity in the IASB’s Framework at this stage. All reporting entities are subject to accounting standards when preparing their general-purpose financial statements. Entities such as small proprietary companies, family trusts, partnerships, sole traders and wholly owned subsidiaries of Australian reporting entities will normally not be required to prepare general purpose statements in accordance with accounting standards. Following the release of the IASB’s Exposure Draft of a Proposed IFRS for Small and Medium-Sized Entities, (SMEs) published in February 2007, the AASB issued, in May of that year, Invitation to Comment ITC 12, proposing to revise the differential reporting regime in Australia by switching the focus away from whether an entity is/is not a reporting entity to whether the entity (subject to a size test) is required to prepare a general-purpose financial statement/report and is publicly accountable. â€Å"Public accountability† is defined in the IASB’s ED on SMEs as accountability to those present and potential resource providers and others external to the entity who make economic decisions but who are not in a position to demand reports tailored to meet their particular information needs. An entity has public accountability if: (a) it has issued (or is in the process of issuing) debt or equity instruments in a public market; or (b) it holds assets in a fiduciary capacity for a broad group of outsiders, such as a bank, insurance company, securities broker/dealer, pension (or superannuation) fund, mutual fund or investment bank. The implications are that if an entity is publicly accountable or satisfies a size test then it will be required to apply Australian equivalents to IFRSs in its general-purpose financial statements. If it is not publicly accountable, and does not meet the size test, then the entity need apply the Australian equivalent of IFRS for SMEs only. See figure 1. 3 in section 1. 9. 2 of the text for a flowchart showing the ITC 12 proposed changes, which, at the time of writing, are expected to be accepted by the AASB for 2009 and beyond: CASE STUDIES Case study 1: Legal obligations Visit the website of the Australian government’s Attorney-General’s Department dealing with the law (www. comlaw. gov. au) and find the Corporations Act 2001. Assuming that you are the director of a small proprietary company, find the â€Å"small business guide† and learn of your obligations under the Act for managing your business. Prepare a brief report for the tutorial class. The Small Business Guide in the Corporations Act can be found following Section 111J. The guide summarises the main rules in the Corporations Act (the Corporations Act 2001) that apply to proprietary companies limited by shares—the most common type of company used by small business. The guide gives a general overview of the Corporations Act as it applies to those companies and directs readers to the operative provisions in the Corporations Act. Students, in their capacity as would-be directors, are required to present a report to the class, summarising the requirements of the Guide. Such topics to be covered include: †¢ The meaning of registration, including shareholders’ and directors’ liabilities †¢ Rules for internal management of a company †¢ Company structure and setting up a new company †¢ Continuing obligations once the company is set up †¢ Company directors, secretaries and shareholders †¢ Who can sign company documents †¢ Funding the company’s operations †¢ Returns to shareholders Annual financial reports and audit †¢ Disagreements within the company †¢ Companies in financial trouble Case study 2: The AASB Visit the website of the Australian Accounting Standards Board (www. aasb. com . au) and find out the following items: †¢ Who is the Chairman of the AASB? †¢ Who are the members, and which organisations do they represent? †¢ Which accounting standards have been issued in the past year? †¢ Why are there differences in the numbering systems for current accounting standards (eg. AASB x, AASB xxx and AASB xxxx)? †¢ What are the current projects (if any) that the AASB is working on in cooperation with the IASB? Assuming that you already have access to the AASB website: Chairman of the AASB Go to AASB Board, then Current Board Members . Current chairman is David Boymal Members of the AASB and organisations represented Stay in the same location and the names and organisations represented on the AASB are all shown. Don’t forget to include the observers as well. Comment: too many people from Melbourne No academics on the board? Accounting standards issued in the past year: On the AASB website, go to Quick Links, then Standards. Read from Table 1 all of the standards issued in the last year. Different numbering systems for standards See Pronouncements for information, plus the section 1. 7. 4 in the text. AASB x represent those standards adopted by the AASB from the IFRSs of the IASB AASB xxx represent those standards adopted by the AASB from the IASs of the IASB and its predecessor the IASC AASB xxxx represent those standards issued exclusively by the AASB for companies in the Australian context In addition, the AAS standards consist of standards issued by the AASB for special organisations e. g. superannuation plans, government Current projects On the AASB website, go to Work in Progress, then Projects. It would appear that there are no specific projects at the moment being worked on by the AASB in cooperation with the IASB. The AASB is one of several standard setting boards that liaise with the IASB and merely provide submissions to the IASB on various topics. See also AASB Submissions to the IASB on the website. Also check the News section and Latest News on the website. Case study 3: Setting up a company Visit the website of the Australian Securities and Investment Commission (www. asic. gov. au) and find the form(s) that you must fill out to start a company, assuming that you wish to set up a small proprietary company to take over your current successful business, which has been operating as a partnership (with three partners) in the past. On the website of the ASIC, go to Download forms, select the form 201 for Registering a company. Students should print the form and fill it out as if they wish to set up a proprietary company, with more than one owner shareholder. Case study 4: The IASB Visit the website of the International Accounting Standards Board (www. iasb. org. k) and find and report to the class on the following pieces of information: †¢ The Memorandum of Understanding of 2005 between the IASB and the FASB of the United States †¢ Which accounting standards have been changed as a result of the Memorandum of Understanding †¢ The membership of the IASB and whic h countries the members come from †¢ The goals of the IASB 1. Memorandum of Understanding On the IASB website, go to About Us, then click on About IASB, and then on the Memorandum of Understanding with the FASB. A full pdf version of the Memorandum can be found here. In relation to the Memorandum the IASB website states: After their joint meeting in September 2002, the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued their Norwalk Agreement in which they ‘each acknowledged their commitment to the development of high quality, compatible accounting standards that could be used for both domestic and cross-border financial reporting. At that meeting, the FASB and the IASB pledged to use their best efforts †¢ to make their existing financial reporting standards fully compatible as soon as is practicable and †¢ to co-ordinate their future work programmes to ensure that once achieved, compatibility is maintained. At their meetings in April and October 2005, the FASB and the IASB reaffirmed their commitment to the convergence of US generally accepted accounting principles (US GAAP) and International Financial Reporting Standards (IFRSs). A common set of high quality global standards remains the long-term strategic priority of both t he FASB and the IASB. 2. Accounting standards changed/ to be changed as a result of the Memorandum of Understanding On the IASB website, go to About Us, then click on About IASB, and then on the Memorandum of Understanding with the FASB. A full pdf version of the Memorandum can be found here. Not many standards have yet been changed, but plenty of standards are on the agenda for change. From the Memorandum , the topics for short-term convergence include: To be examined by the FASB |To be examined by the IASB | |Fair value option* |Borrowing costs | |Impairment (jointly with the IASB) |Impairment (jointly with the FASB) | |Income tax (jointly with the IASB) |Income tax (jointly with the FASB) | |Investment properties** |Government grants | |Research and development |Joint ventures | |Subsequent events |Segment reporting | |FASB Note: |IASB Note: | |*On the active agenda at 1 July 2005 |Topics are part of or to be added to the IASB’s short-term | |** To be considered by the FAS B as part of the fair value |convergence project, which is already on the agenda. |option project | | Longer term projects include the following, from the Memorandum of Understanding: The boards set the following goals for 2008 for convergence topics already on either their active agendas or the research programmes: |Topics already on an Active Agenda | |Convergence topic |Current status on the FASB |Current status on the |Progress expected to be achieved by 2008 | | |Agenda |IASB Agenda | | |1. Business combinations |On agenda – deliberations in|On agenda – |To have issued converged standards | | |process |deliberations in |(projected for 2007), the contents and | | | |process |effective dates of which to be determined | | | | |after taking full account of comments | | | | |received in response to the Exposure Drafts. | |2. Consolidations |On agenda – currently |On agenda – no |To implement work aimed at the completed | | |inactive |publication yet |development of converged standards as a | | | | |matter of high priority. | |3. Fair value measurement |Completed standard expected |On agenda – |To have issued converged guidance aimed at | |guidance |in the first half of 2006 |deliberations in |providing consistency in the application of | | | |process |existing fair value requirements. 1 | |4. Liabilities and equity |On agenda – no publication |On agenda (will follow |To have issued one or more due process | |distinctions |yet |FASB’s lead) |documents relating to a proposed standard. | |5. Performance reporting |On agenda – no publication |Exposure draft on a |To have issued one or more due process | | |yet |first phase |documents on the full range of topics in | | | | |this project. | |6. Post-retirement benefits |On agenda – deliberations |Not yet on the agenda |To have issued one or more due process | |(including pensions) |underway on the first phase | |documents relating to a proposed standard. | | |of multi-phase project | | | |7. Revenue recognition |On agenda – no publication |On agenda – no |To have issued one or more due process | | |yet |publication yet |documents relating to a proposed | | | | |comprehensive standard. | The objective of the goals set out above is to provide a time frame for convergence efforts in the context of both the objective of removing the need for IFRS reconciliation requirements by 2009 and the existing agendas of the FASB and the IASB. The FASB and the IASB will follow their normal due process when adding items to the agenda. Items designated as convergence topics among the existing research programmes of the boards include: |Topics already being researched, but not yet on an Active Agenda | |Convergence topic |Current status on the FASB|Current status on the IASB|Progress expected to be achieved by | | |Agenda |Agenda |2008 | |1. Derecognition |Currently in the |On research agenda |To have issued a due process document | | |pre-agenda research phase | |relating to the results of staff | | | | |research efforts. | |2. Financial instruments |On research agenda and |On research agenda and |To have issued one or more due process| |(replacement of existing |working group established |working group established |documents relating to the accounting | |standards) | | |for financial instruments. | 3. Membership of IASB and member countries Go to the IASB website and see, About us. Click on About IASB and there you will find the information about the Chairman, currently Sir David Tweedie, the Vice-Chairman and all members of the IASB, and the countries from which they came by reading each person’s information sheet. 4. Goals of the IASB Go to the IASB website and see About us. Click on About IASB and there you will find the IASB objectives. Case study 5: ASIC Visit the website of the Australian Securities and Investments Commission (www. asic. gov. au) and find out and report to the class on the following: †¢ Who the ASIC is and its role †¢ The tips given to prospective shareholders regarding the reading of a company’s prospectus †¢ A list of the policy statements and practice notes issued by the ASIC †¢ â€Å"What’s new† to the website. 1. ASIC and its role On the ASIC website, go to About ASIC and look up Our Role 2. Tips to prospective shareholders re prospectuses From the ASIC website visit FIDO, the ASIC’ s consumer website. From there, go to check our lists and click on prospectuses. The ASIC has information about prospectuses which changes quite regularly. See what tips you can find about prospectuses, assuming that you are a prospective investor. 3. Policy statements and regulatory guides issued From ASIC’s home page, go to Publications and then to Policies. Both the policy list and the regulatory guides are accessible here. 4. What’s new See ASIC’s home page, and What’s New features on the home page. How to cite Accounting Answers, Papers

Thomas Jefferson Is Remembered In History Not Only For The Essays

Thomas Jefferson is remembered in history not only for the offices he held, but also for his belief in the natural rights of man as expressed in the Declaration of Independence and his faith in the peoples ability to govern themselves. He left an impact on his times equaled by few others in American history. Born on April 13, 1743, Jefferson was the third child in the family and grew up with six sisters and one brother. Though he opposed slavery, his family had owned slaves. From his father and his environment he developed an interest in botany, geology, cartography, and North American exploration, and from his childhood teacher developed a love for Greek and Latin. In 1760, at the age of 16, Jefferson entered the College of William and Mary and studied under William Small and George Wythe. Through Small, he got his first views of the expansion of science and of the system of things in which we are placed. Through Small and Wythe, Jefferson became acquainted with Governor Francis Fauquier. After finishing college in 1762, Jefferson studied law with Wythe and noticed growing tension between America and Great Britain. Jefferson was admitted to the bar in 1767. He successfully practiced law until public service occupied most of his time. At his home in Shadwell, he designed and supervised the building of his home, Monticello, on a nearby hill. He was elected to the Virginia House of Burgesses in 1769. Jefferson met Martha Wayles Skelton, a wealthy widow of 23, in 1770 and married her in 1772. They settled in Monticello and had one son and five daughters. Only two of his children, Martha and Mary, survived until maturity. Mrs. Martha Jefferson died in 1782, leaving Thomas to take care of his two remaining children. Though not very articulate, Jefferson proved to be an able writer of laws and resolutions he was very concise and straight to the point. Jefferson soon became a member in a group which opposed and took action in the disputes between Britain and the colonies. Together with other patriots, the group met in the Apollo Room of Williamsburgs famous Raleigh Tavern in 1769 and formed a nonimportation agreement against Britain, vowing not to pay import duties imposed by the Townshend Acts. After a period of calmness, problems faced the colonists again, forcing Jefferson to organize another nonimportation agreement and calling the colonies together to protest. He was chosen to represent Albermarle County at the First Virginia Convention, where delegates were elected to the First Continental Congress. He became ill and was unable to attend the meeting, but forwarded a message arguing that the British Parliament had no control over the colonies. He also mentioned the Saxons who had settled in England hundred of years before from Germany and how Parliament had no more right to govern the colonies than the Germans had to govern the English. Most Virginians saw this as too extreme, though. His views were printed in a pamphlet called A Summary of the Rights of British America (1774). Jefferson attended the Second Virginia Convention in 1775 and was chosen as one of the delegates to the Second Continental Congress, but before he left for Philadelphia, he was asked by the Virginia Assembly to reply to Lord Norths message of peace, proposing that Parliament would not try to tax the settlers if they would tax themselves. Jeffersons "Reply to Lord North" was more moderate that the Summary View. Instead of agreeing with Lord North, Jefferson insisted that a government had been set up for the Americans and not for the British. The Declaration of Independence was primarily written by Jefferson in June 1776. Congress felt that the Declaration was too strong and gave Dickinson the responsibility of redrafting the document, but the new version included much of Jeffersons original text and ideas. In 1779, Jefferson became governor of Virginia, guiding Virginians through the final years of the Revolutionary War. As a member of the Second Continental Congress, he drafted a plan for decimal coinage and composed an ordinance for the Northwest Territory that formed the foundation for the Ordinance of 1787. In 1785, he became minister to France. Appointed secretary of state in President Washingtons Cabinet in 1790, Jefferson defended local interests against Alexander Hamiltons policies and led a group called the Republicans. He was elected vice-president in 1796 and protested the enactment of the Alien and Sedition Acts by writing The Kentucky Resolutions. In 1800, the Republicans nominated Jefferson for president and Aaron Burr (A Buh. hahaha) for vice-president. Federalists had nominated John Adams for president and Charles Pinckney for vice-president. Federalists claimed that