Traditional Budgeting v/s Beyond Budgeting Sample

Question: Examine about the Traditional Budgeting Versus Beyond Budgeting. Answer: Presentation: According to the announcement made by Jensen the contemporary planning practice has been widely praised. The announcement shows that contemporary planning rehearses frequently lead to lying, cheating and creating of the money related data, which prepares for doubt in the association. The various parts of the given proclamation has additionally expressed about the time required in authorizing the strategies identified with corporate planning rehearses. According to the Harvard business audit it has been mulled over two models, one being the situation of directors setting on accomplishing quarterly income identified with the shipment of the incomplete items from the plant situated in England to the distribution centers situated in Netherlands. It has additionally seen that the shipments of the items identified with the inadequate things were set to be sold before the finish of the quarterly year finishing and satisfy their spending objectives to procure their rewards. The significant e xpense identified with gathering the merchandise at an inaccessible area was required for an extra rental expense related to the distribution center and work (Jensen 2001). The audit of the writing further shows how spending plans drive remuneration. Jensen contends that the all out money remuneration got by the chiefs apparently is consistent, until the administration can arrive at the base obstacle purpose of 80% of the given objective. While in different cases, the miscreants flourish, as the remuneration is wrongly introduced regarding 120% of the typical objective and in surpassing the equivalent. In any case, the general remuneration continues as before. The essential purposes behind the organizations to have a financial plan are found in type of planning of the dissimilar parts in the business. The demonstration of transparently sharing the exact data and depending on the choices on a typical arrangement of numbers guaranteed prosperous connections inside the hierarchical units. This has additionally prompted effective procedure and top notch items alongside lower level of inventories (Arnold, 2014). The execution of the equivalent in the current business pertinent to the board control and planning can be found in the investigation of the spending targets. This training has the likelihood to decide the trustworthiness related issues in the association. Subsequently, therefore chiefs start to get deluding data to the providers and the clients. This has been additionally recognized as a danger to honesty in the whole association. According to the announcement given by Jensen, it further expresses that the harm of this can go past the individual association. For example during the hour of blast, the budgetary experts are seen to raising the desire and supervisors of the organization begin to accumulate assets from the future to satisfy the current requests. The net consequence of such a circumstance is found in type of exaggeration of the profit and the incomes. Then again, during the financial log jam it has been seen that the interest falls extensively. It has been additionally ob served that the inventories began to ascend during this period and the directors of the organization frequently think that its horrifying to respond and take important choice (King, 2014). The Jensen sees have additionally given the answer for the different kinds of the rising issues identified with the planning choices. As per him the main conceivable way out of this issues are straightforwardly identified with the evacuation of all crimps which will in general emerge from the compensation for-execution lineand thusly the administration of the association ought to accentuate on absolutely direct reward plan. He has shown this idea, with the A Linear Compensation Plan. The use of this will have the option to guarantee that the trough of the organization, were as yet ready to get remunerated for the great execution alongside more noteworthy measure of different advantages for the different kinds of the free spending targets. In this way, reward got by the directors for a given degree of execution is seen to be same, regardless of whether the spending objective is seen to underneath or over the degree of the genuine presentation. The answer for the spending gaming issue is found as far as embracing an absolutely straight compensation to pay for the presentation. The expulsion of the crimps identified with the spending sets underneath the spending objective both above and beneath, killing the motivator program for the chiefs. Subsequently as per the suppositions made by Jensen it has been expressed that the different sorts of the limitations identified with planning choice supposedly is related to the compelling coordination of the different kinds of dissimilar units (Jensen 2001). Analysis of the conventional methodology of planning As I would see it, the changed imperatives of the present planning framework can be identified with the expanded utilization of the customary planning framework. The primary analysis to the customary way to deal with the planning can be legitimately identified with the different sorts of the limitations related to the anticipation and pleasing the different kinds of the progressions identified with the changing industry situation. The tending to of the different kinds of the restrictions identified with the present planning framework has been settled by an elective methodology, which are increasingly fit to the need of the cutting edge business. A portion of the consideration of the cutting edge strategy for the planning technique has been talked about with the utilization of the methods, for example, moving conjectures and use of movement based planning (Hagel, 2014). The planning framework, which was created during the 1920s has been exposed to different reactions for a long time. In any case, it was likewise acknowledged that corporate planning went about as unavoidable component and the different sorts of the advantage identified with the equivalent exceeded the expense. Counter understanding identified with the announcement given by Jensen Regardless of the few reactions rerated to the conventional and the contemporary strategies identified with the planning procedures. There are a few kinds of the counter understandings to the announcement, which has been given by Jensen. The fundamental understandings identified with the idea of the counter planning can be legitimately related the incorporation of the accompanying segments into the financial plan: According to the conventional idea of financial plan, it supposedly is a helpful apparatus for controlling the pay and use and foundation of the needs and the different kinds of the particular components identified with the setting of the needs for the association. It has been additionally observed to give the bearing and the coordination of the business destinations into handy sense. It has been seen the reason for planning has been seen n terms of utilization of the methods identified with relegating of duties to spending holders and dispensing the assets. In different circumstances, the value of the contemporary planning has been seen with the consideration of the different kinds of the components in deciding the cost imperatives. These elements are identified with upgrade the coordination of the various sorts of the exercises and in expanding the proficiency in the key zones of the business. In different sorts of different perspectives, conventional planning permits information on the significance and significance of deviations for contrasting them and estimates. This prompts more prominent measure of proficiency in the significant areas of the financial administration of the substance. From the conversation dependent on the incorporation of the few sort of the planning strategy, it very well may be expressed that there are a few points of interest of the customary planning framework to counter the announcement given by Jensen. The contemplations has been likewise considered to give the last contention on the given proclamation (Conferinta, 2013). Conclusion on the announcement given by Jensen on corporate planning The primary perspectives given by me have been additionally isolated into two bits. The initial segment of the report surveys the advancement of the present budgetary practices and the different sorts of effects it has on the improvement procedure. The second segment of the feeling further expresses the different sorts of the pertinent writing identifying with spending plans and structure of the association. As per me the present conventional arrangement of planning, forestalls the association to make the essential changes identified with the market situation. Henceforth, as I would like to think elective planning techniques or past planning will end up being progressively fitting in fitting to the requirements of present day business. The usage of such a method in the customary methodology of the corporate planning strategy will have the option to guarantee that the association can keep up improving arranging, control and better anticipating, which will at last outcome in progress i n general execution of the business. Despite the fact that the primary inception of, for example, approach was seen as transcendent in the countries, for example, France, Germany, Belgium, Holland, Norway, South Africa, Sweden, Switzerland and the United States during 1997, the use of a similar will have the option to give a prove improvement in the general planning of the various sorts of the assets of the nation. The utilization of the past planning procedure will have the option to state on the key segments identified with the accomplishment of a specific business; it will be further have the option to recognize the different kinds of the limitations identified with the persistent improvement in the versatile arranging and control to expand benefit. As indicated by my supposition the past, planning will have the option to empower the organizations in dealing with its different sorts of the exhibition related elements. Notwithstanding this the past planning idea will have the opti on to related the decentralizing the general dynamic procedure and the requirement for customary planning practice (Hope and Fraser, 2013). The past planning practice will be further have the option to put more measure of accentuation on the ideas of the action based costing consequently the related cost surveys will be

Demand and Supply in Microeconomics

Request and Supply in Microeconomics Presentation Financial matters is an investigation of how to utilize constrained asset to fulfill boundless individuals needs. Request and flexibly is the two fundamental idea of the cutting edge financial. Request is the thing that individuals need and flexibly is what number of products accessible for individuals need. In free market the cost of good is controlled by the quantities of customers and what number of items accessible for them. As the consequence of that, when customers comprehend the law of interest and gracefully they will have capacity to choose when they can purchase an item with low cost and the providers can set the correct cost of this item and choose what number of item they will make. For this situation study we will assess the hypothesis of interest and flexibly. We likewise give a case of interest and flexibly in food advertise in Hanoi in storm season. Hypothesis Request and gracefully may be one of the essential ideas of financial matters. It is the center of market economy. Request is the cost or amount of an item or administration wanted by shoppers. The interest relationship alludes to the connection between the cost and amount requested, which are the cost and amount individuals ready to pay for. Gracefully is the measure of items a market produces. The gracefully relationship speaks to the connection between the cost and amount provided, which are the cost and amount providers ready to deliver. Along these lines, cost is the fundamental worry for request and gracefully to think about expanded or deducted, thus request and flexibly differ as indicated by the cost. As per the law of interest and flexibly, the higher of an items value the more providers will deliver and the less individuals will purchase. Therefore, the market cost is changes. ( Investopedia news and articles, copyright 2010 ) In such a case, the amount provided is more noteworthy than the amount requested and there is an overflow of the great available. From the diagram we see that if the unit cost is $3 (accepting relative valuing in dollars), the amounts provided and requested would be: Amount Supplied = 42 units Amount Demanded = 26 units In this way there would be an overflow of 42 26 = 16 units. The venders at that point would bring down their cost so as to sell the overflow. Assume the merchants brought down their costs beneath the harmony point. For this situation, the amount requested would increment past what was provided, and there would be a deficiency. On the off chance that the cost is held at $2, the amount provided then would be: Amount Supplied = 28 units Amount Demanded = 38 units Hence, there would be a lack of 38 28 = 10 units. The venders at that point would expand their costs to make more benefit. The balance point must be where amount provided and amount requested are in balance, which is the place the flexibly and request bends cross. From the diagram over, one sees this is at a cost of roughly $2.40 and an amount of 34 units. (NetMBA.com) When all is said in done, if the cost of an item is at low level, more individuals need to get it and the interest will increment. As the outcome, there will be a deficiency. The provider presently will create more since individuals despite everything need to utilize that item. So the gracefully increments. It will hold expanding to a point where clients request and the amount of that item is equivalent. Along these lines, there is an inclination toward a balance point where amount requested equivalents amount provided. Then again, if the cost of an item is at significant level, fewer and fewer individuals need to get it thus the interest diminishes. At long last, there will be an overflow. The provider presently will drop down the cost so as to draw in more clients. This value props up down until they sell all out of the overflow. In this way, the cost is going in reverse to a harmony point where cost requested equivalents cost provided. Things being what they are, how a firm realize when to create pretty much? As in THE TIMES 100 article expresses that A significant part of promoting is recognizing what the interest is for your items. All organizations take part in promoting exercises to discover what the interest for their various items will be. For instance, Coca-Cola will need to examine advertise drifts in the carbonated beverages part, while a bank will need to get some answers concerning the interest for budgetary administrations. Furnished with this data they can settle on proper evaluating choices dependent on what different providers are doing, just as on the interest from customers in the market. Some fundamental elements causing the adjustment sought after: Financial components: When a nation economy is acceptable and individuals have more cash in their pockets. They likely need to expend more and accordingly the interest will increment Social variables: As the social pattern changes, individuals may possess less energy for dealing with their homes. In this manner, they should purchase all the more clothes washers and recruit representatives to do all the cleaning and cooking administrations. In this way, there will be greater open door for firms making clothes washer and more popularity for cleaning administration. The amount and the cost of serious products: the higher the cost of a serious decent, the higher will be the interest for this great as clients change from serious merchandise. A model for this is, if the cost of I-telephone cell phone goes up, the interest of other PDAs will increment. Some principle factors causing the adjustment in flexibly: Needs: it is essentially the interest for a specific item. As the interest rises, the provisions will rise moreover. The quantity of providers: If new organizations join the market, as a rule the flexibly increments Normal and unusual occasions: If seismic tremors, floods and fire happen, the yield prone to drop. Wars, which influence the gracefully of imported crude materials, the breakdown of hardware, may happen whenever. (John Sloman (1998), and The Times 100, Copyright Ââ © the Times Newspapers) Request and Supply in Macroeconomics and Microeconomics: Macroeconomics is the investigation of the entire monetary exercises which incorporate expansion, downturn and unemployment㠢â‚ ¬Ã¢ ¦ Therefore, it worries with the all out interest and all out gracefully. On the off chance that the absolute interest is high contrasted with the all out gracefully, expansion and equalization of exchange shortages will happen Expansion: is the expansion of the value level in the entire economy. On the off chance that there is an ascent sought after, providers likely respond by setting up significant expenses. All things considered, if the interest is still high, they can sell tantamount to previously and make a great deal of benefits. Expansion will happen when all providers simply keep their costs at significant level. The parity of exchange shortages happens when import is more prominent than trade. At the point when the total interest rises, individuals will tend to purchase progressively outside products, increasingly imported vehicles, wines, electronic supplies will be devoured. In the event that the expansion is additionally high, the household merchandise are significantly harder to contrast and outside products. As the outcome, our merchandise can't be expended by our nation as well as remote nations. In the event that the all out interest is low contrasted with the all out gracefully, joblessness and downturn will happen Downturn: is the monetary circumstance when business exercises are declined. As the outcome, less and less individuals are happy to go through cash. In this way, firms will have a great deal of surplus products. They liable to purchase less from the makers, which will diminish the creation consequently. Joblessness will occur if makers don't have to create any longer. Microeconomics is the investigation about the individual pieces of economy, singular firms. It learns about the interest and gracefully of explicit items and administrations, for example, vehicles, garments, food, circuit testers. We can't make the same number of products as need on the grounds that the absence of assets. There are a few decisions must be made in our general public: What ought to be created? We dont have enough assets to create the same number of merchandise as we need. Subsequently, we need to choose what number of vehicles, what number of structures, what number of hospitals㠢â‚ ¬Ã¢ ¦ ought to be created? In what manner should things be created? On the off chance that there is more than one approach to deliver thing, we need to conclude which is the best. Who will utilize our items? This is the issue of pay. We need to choose what the pay of specific employment, for example, specialist, engineer, farmer㠢â‚ ¬Ã¢ ¦ Because in the event that they have more cash, they liable to expend more (John Sloman, 1998) Contextual analysis In October of 2008, Ha Noi was overflowed by substantial downpours. Since the channels didn't work adequately as it should be. Individuals in Ha Noi had a horrendous encounter due to the shortage of the food. Gaining from that experience, individuals in Ha Noi today as a rule store food when a tempest is reported coming. As the self evident actuality, at night of July seventeenth in 2010, the news anticipated that a tempest may be coming. Be that as it may, in the following day, the climate turned regularly once more. In light of the stress over the shortage of food, individuals in Ha Noi previously hurried to the grocery store and purchased the same number of nourishments as they can. The difference sought after and flexibly made a great deal of store unavailable, likewise the cost of the food was multiplied the alleged cost. At some market, individuals needed to battle, pushed each other just to top off their cooler. Therefore, they needed to eat solidified nourishment for quite a long time while low cost new food is selling all over the place. Now, the market needed to endure the abatement of food request since individuals previously had food in their cooler. For this situation, when an interest shockingly increment the amount flexibly can't bear to fulfill all the necessities rather than that is the expanding of the cost. At the point when the interest drops down, the amount gracefully remains the equivalent however the cost needs to tumble to draw in more clients. End These days, this present reality economy is too unpredictable that even now and again the law of interest and gracefully can't be applied. The market today is evolving endlessly; numerous individual theories are getting considerably increasingly more uncertainly. Thusly, individuals shouldnt surge in choosing to purchase anything. As I would like to think, stock and land markets are extremely unsafe for the individuals who

Ethical implications and theories about a new technology Essay

Moral ramifications and speculations about another innovation - Essay Example Test (2007) reports that researchers working in the field of nervous system science have built up a framework with which they can investigate a person’s psyche and see their goals even before they are done. Basically, it permits them to bug the brain of an individual much like a phone can be pester. The strategy depends on taking high goals outputs of the mind to recognize the movement in specific zones of the cerebrum which can be converted into the genuine contemplations of the individual. A cerebrum picture of this sort could uncover an individual who is lying, having savage contemplations, has racial preferences, or some other negative or positive feelings. While the procedure can be utilized to help in cross examination and wrongdoing comprehending it could undoubtedly transform into an Orwellian instrument a lot of like the idea police. Obviously the mind output could likewise be utilized to demonstrate the guiltlessness of a person who has not carried out a wrongdoing however the intrusion of security and the infringement of social equality positively raise fascinating inquiries. The innovation is as yet quite a long while away from being consummated however it is going towards a heading where concealing contemplations may be incomprehensible. In a couple of years, researchers will have the option to tell if an individual is lying or not just by taking a gander at their cerebrum action. Truth be told, we may even have the option to know a person’s passionate state, foundation considerations just as their deepest desires with a sufficient output of their cerebrum. The thought has its positive applications since PCs could be controlled with the cerebrum and apparatus could likewise be controlled with thought alone to give the impaired an exceptional level of development. Figured controlled wheelchairs or counterfeit limbs could make losing an arm or a leg less incapacitating than it is presently. Unmistakably, there are both positive and negative sides to the discussion on the perusing of contemplations. To more readily get a handle on the circumstance in moral terms,

The International Air Transport Association Tourism Essay

The International Air Transport Association Tourism Essay Another article composed by the International Air Transport Authority expresses that a few carriers have begun to see some adjustment in the business and the top of the line segments of the aircrafts. These are the most gainful parts for an airline.however it is appropriate to note here that not the sum total of what aircraft have been as fortunate and hence some carrier are as yet confronting a misfortune on these areas too. For the other aircraft which are seeing adjustment, these divisions are back ready for action in light of the way that the monetary emergency is currently improving and gradually individuals are returning back to their ordinary lives and organizations have balanced out and in this way they are back to working together as they were before the emergency occurred a couple of years prior on the planet. World exchange has in this way become fundamental by and by and the organizations are presently gradually permitting their representatives to begin spending excessively also. Business class has not recouped completely either then again. Travelers who used to fly these classes currently resort to flying economy or taking spending aircrafts. This is because of the new changes that a few organizations have thought of confining the utilization of the very good quality seats by its representatives with an end goal to set aside up on the cash. Economy class travelers who were the vacationer class travelers have not completely returned to their unique number be that as it may. As most of the income on a flight comes from the economy class, aircrafts are beginning to feel the impacts of decay of travelers now. When on specific courses the economy class used to go stuffed, it is currently observing void seats too and void seats are causing the carriers issues and in this manner the administration of the aircrafts are thinking about elective techniques to manage these seats. The procedures incorporate contribution exceptional a minute ago arrangements on seats and in this way gaining something in contrast with having nothing when a seat goes void on a flight. The article further proceeds to express that because of the entirety of the abovementioned, travelers numbers are currently being balanced out to the detriment of much lower yields for the aircrafts now as carriers are attempting to support up their incomes now. Having the budgetary freedom is important for aircrafts so as to stay above water in this way they have to take a benefit that is lower than that they would regularly be getting just to stay above water. Times are hard for the aircrafts yet they understand that without this they won't have the option to endure and accordingly will see their valuable shopper base going to different carriers in the market.â [ii]â This article composed by Jones (2012) states that when the aircraft business was blasting, numerous carriers had made their future extension and development plans as indicated by this. Anyway after the worldwide money related emergency, aircrafts needed to decrease their arrangements so as to stay above water. Carriers utilized numerous methods to curtail these plans. Carriers which had requested planes ahead of time to adapt to the interest that had been expanding in the course of the most recent couple of years needed to drop their requests and in this manner face misfortunes with that too. Aircrafts which had converged with different carriers so as to adapt to the interest were not lamenting this choice as it was getting too costly to even think about coping with these costs in the common financial conditions. Planes were being auctions off also. A model can be that of Lufthansa which included half greater limit in 2007 so as to adapt to the expanding request however just included 2.3% limit in 2012. This has indicated that there is a descending pattern in the expanding scene advertise and that has really injured the aircraft business. Carriers have likewise needed to resign their more established armada of airplanes too so as to reduce their misfortunes. Global courses have been hit the hardest as these were the courses which created the most benefit for these carriers. The carriers have contracted their size and laif off their representatives also so as to adapt to the diminishing interest for these courses. Numerous courses have additionally been rejected by these carriers as now a few courses are not creating the gainfulness that used to be produced and some are in any event, running on misfortune. This has additionally brought about aircrafts diminishing recurrence of their flights. This all affects the aircraft gainfulness and accordingly they are currently having lower benefit. Feeder aircrafts have additionally affected the benefit of the bigger carriers as they were the ones who used to ship individuals to the significant air terminals from where bigger aircrafts used to work to the long stretch goals. These feeder aircrafts have decreased their recurrence and a few courses have likewise been shut down along these lines hampering the productivity of the bigger carriers on the long stretch courses. Given these progressions their has been a colossal value rivalry in the market too which has brought about aircrafts offering less expensive tickets so as to snatch the most extreme traveler load.â [iii]â Business and top of the line travel have been the aircrafts prize belonging and they have relied on these seats for they are the ones that accomplish most extreme gainfulness for a carrier. These seats used to be completely reserved well ahead of time and were ordinarily reserved by business explorers. These seats are presently going void a great deal of the time as there has been an abatement in the traveler incomes and in this manner these seats are the ones that once used to get a ton of benefit for the organization however now are turning into a wellspring of misfortune for carriers in the financial downturn. Business class and top notch travelers are presently moving to less expensive other options, such as flying in Economy class or moving to different methods of transportation like the train and even not flying on occasion and depending on current innovation like video conferencing so as to reduce back expenses which are related with the head class travel which is costly. This has affected the European market the most as the degree of business certainty has gone down significantly and subsequently has demonstrated to have extremely little increment risks in Europe. Be that as it may, it is noticed that the variance isn't reliable and can skip back too. Be that as it may on the off chance that it doesn't ricochet back it can spread to different markets too and accordingly hamper gainfulness. This article features the purposes behind the decrease in PIA air travel which is eventually influencing the benefit of the carrier. there are numerous reasons given for the decrease and every one of them are identified with PIA as far as the manner in which the carrier is in effect as of now run and subsequently are not identified with the functions of the aircrafts who are being confronted with this issue also. One of the significant issues looked by PIA is the downgrading of the rupee. PIA endures high misfortunes because of the swapping scale variances. This depreciation of the rupee has hence driven the carrier to encounter misfortunes even in 2012. A considerable lot of the buys are made in US Dollars are along these lines the rupee has devalued and hence the aircraft is presently enduring misfortunes as steps were not taken ahead of time to take care of this issue. The article proceeds to state that the aircraft has additionally needed to manage the fuel value chance too anyway In 2012 the cost of the fuel has declined by 8%. The variances in fuel costs has therefore prompted misfortunes being brought about by PIA as they couldn't secure themselves against this change. Different aircrafts have secured themselves by receiving numerous procedures like buying fuel ahead of time at pre decided rates and therefore staying away from the changes that were going on in the global carrier market and in this way evading the issues which were being looked via aircrafts everywhere throughout the world too. Its own inward issues have additionally prompted the benefits being diminished too. This is significantly because of the inward wasteful aspects of the carrier and the precarious working presentation of PIA well. Anyway as of late because of the adjustment in the administration the aircraft has had the option to ricochet back a piece and improve its European tasks also impressively however it will take more than that so as to improve the state of the carrier. arrangements additionally should be detailed which will enable the carrier to run appropriately and along these lines maintain a strategic distance from misfortunes. Experienced staff should be gotten to deal with this issue. PIA needs to have a drawn out methodology which it needs to follow so as to improve the benefit and the picture of the carrier. just by having a drawn out methodology will PIA have the option to shield itself from the changing examples in the market and in this manner abstain from making misfortunes in the long haul too. In this way it very well may be said that a drawn out technique is something that is required however is missing at present in PIA. [iv] An article composed by IATA(2012) states that the fly fuel costs have additionally been a purpose behind the high increment in carrier tickets. This has prompted the travelers deals declining. The stream fuel costs have ascended when there is a monetary emergency and consequently travelers have just been compelled to lessen their uses and this expansion has additionally driven them to not go on aircrafts along these lines hampering their gainfulness. Carriers have not had the option to support themselves against this fuel rise and that is the reason numerous aircrafts have needed to endure misfortunes and furthermore face decline in travelers too. Not many aircrafts had the option to support against the ascent in fuel costs which have spared them from confronting such misfortunes. Different aircrafts have kept on confronting misfortunes with the expansion in fly fuel costs. PIA has not had the option to do as such and in this manner they have missed out on traveler incomes on long stretch flights. The administration doesn't have a drawn out technique to manage the ascent in fuel costs and in this way fence from it either in any conceivable manner that will assist it with limiting the misfortunes being looked by the carrier. Carriers have likewise not had the breathing space to adjust to these progressions as the adjustments in the cost of fly fuel has expanded consistently. Inferable from t

Jupiters Moons, Doge, and a Tub of Icing

Jupiter’s Moons, Doge, and a Tub of Icing Last April, as part of a high school assignment, I was required to journal about daily experiences. Much angst about my workplace and college decisions (of which I will write soon) ensued, but one entry, written on a Tuesday before CPW, caught my attention in particular. In it, Yuliya the Undecided HS Senior once again persuades herself that MIT is the best place ever. In summary: because CPW. But here is more (from April 8, 2014): I stayed up until midnight yesterday to review the MIT CPW (Campus Preview Weekend) schedule, determined to favorite a decent number of events and plan out each day. But I quickly discovered that with 600+ of them (thats around 30 pages), the task was quite impossible. After all, how do I pick between “Sushi and Barbeque,” “A Wok to Remember” (a reference to a popular Nicholas Sparks novel), “Lock Picking,” and the “Firehouse” (where participants get to burn food and then eat it)? Whats worse, is that 6 minutes after the start of those, “Virgin Bartending” (non-alcoholic) begins. At 2 am on the first day (yes, at night), MIT students will present a series of lectures entitled “FIREHOSE” (in reference to a popular descriptor of an MIT education a drink from a firehose). At different locations throughout campus, prefrosh will get to learn about Algebraic Topology, Space, Spies, and Computer Coding. And 6 hours later, at 8 am, we get a choice of Breakfast Runni ng, Breakfast Crêpes at a fraternity, Coffee with the Staff, Continental Breakfast, or International Breakfast. Many events are quite humorous. I already mentioned “A Wok to Remember,” but there are also the “Hitchhikers Guide to Hackathons,” “Hungry? Games?” and a multitude of other popular references. MIT students have planned everything from laser shooting and liquid nitrogen ice cream making to academic lectures and Disney movie viewing. They didnt just decide to make burgers, but have a “20s Burger Bonanza.” Together, these make up the 600ish things to do in three and a half days of little sleep. I would love to attend at least 70% of the events. Picking will be a pain. The names and descriptions of events make me so thrilled to come! How am I supposed to pick? When am I supposed to sleep? Will I be able to withstand falling in love with MIT, deeply? After all, its not about the events, but what they represent. Who wouldnt want to become part of a community that so generously welcomes the prefrosh? The students and staff are not doing it for tangible incentives. Fraternities dont really need to invite girls, but they do. Professors dont need to sacrifice their time participating in a Professor Talent Show to get judged by future students, but still, they do. The number and variety of activities indicate the great teamwork and passion that MIT community showcases to the world. *** To describe what actually happened a week later at CPW is an impossible feat. I remember the people, the laughter, the connections made, and the sporadic movement from one location and group of excited prefrosh to another. We discussed pant-chairs, and Polynesian geography, and flowers, and foods, and normal introductory things like places of origin and intended majors. We were brave, and rowdy, and charged with a passion to see and learn more. Sleep was unnecessary, it seemed, and exhaustion only dawned a day after returning home (because the first night had to be spent sharing the marvelous happenings of the weekend). During CPW, I knew I belonged at MIT, and nowhere else. Without careful consideration and planning, I saw myself on campus with a clear vision of what to do. Upon return, I began composing potential blog posts in the shower, dreaming of the day I could apply to be an admissions blogger. I caught myself planning get-togethers with friends from CPW, even though I hadn’t committed yet. I saw myself in a club (that I later joined in the fall), and hallways of the Infinite. I felt courageous enough to try out for an a capella group. I looked forward to living in East Campus after one chill CPW afternoon in its courtyard. Even the absence of necessary programs (e.g. education or film major) at the Institute did not matter. At MIT, everything seemed possible with the collaborative spirit. I’ve expressed these “MIT is a perfect fit” sentiments before, with a definite bias. Make sure that when you come to CPW, you explore your feelings. I do not represent the views of every college student. I love random things like battling with foam swords (or axes or spears) on a rooftop. I appreciate a Friday night that involves watching The Godfather and then following up with Tangled at 4 am (after a Seven-Eleven store trip for intermission). Alternatively, I’m delighted to watch shadows of Jupiter’s moons as a form of entertainment. Tesla coils, solar cars, and field extensions make me happy. I didn’t know this about myself until CPW, and have further confirmed these interests since. So get pumped for CPW! Make the most of it in whatever way you want. There will be something here for everyone. We are excited to meet you. Talk to us. Play along with our events. Feel out the fit, and even if its not your best, remember CPW fondly. For those who commit, keep in mind that CPW is filled with magical moments, and the moments dont have to disappear with the advent of classes. When you arrive on campus in the fall, prepare to be hosed. Then plan an awesome outing or movie screening or hangout with your friends. Sure, we don’t have as much time and energy during the semester, but ultimately the people dont change and the opportunities remain. Below are some of my favorite CPW snapshots, with explanatory captions. Id also love to hear about your impressions later. Come hang out with us! Were excited! (a modern Doge Shantytown built in the East Campus courtyard by current and future students) (inside the construction, with spray paint available for all to express themselves on the wooden walls) (the Wall of Bad Choices, on which we left our handprints and signatures in non-washable paint) (nope, spray paint is not washable after all; our hands had to be vigorously scrubbed with a sponge and dish soap, to little avail) (the awesome Ama K. 18, with gloriously dyed green sparkly hair) (dyeing hair crimson and sparkly my first hair color modification ever, inspired by MIT) (a mathematics professor during the Professor Talent Show drawing the perfect circle; later he would prove his actual talent in the form of a theorem: I have a big mouth) (a 21M.600 Intro to Acting instructor leading a mindfulness session as her talent in one of MITs largest lecture halls, 10-250; notice the theorem, blurred due to distance, in the background: I have a big mouth) (the wonderful Sarah A. 18 and Ama K. 18 enjoying their purchases after a free money run to La Verdes campus convenience store; Ama is shown with a tub of icing, deemed later a liquid at the TSA checkpoint; luckily, she was able to finish the icing still)

What is the National Merit Scholarship

PSAT scores can qualify students to enter into the National Merit Scholarship contest, but what is the National Merit Scholarship and is it worth trying for? What Is the National Merit Scholarship? The National Merit Scholarship is a one-time scholarship based on academic achievement and exam scores. The PSAT serves as the qualifying test for a National Merit Scholarship. All National Merit finalists receive a scholarship of $2,500. National Merit Finalists then go on to win through applications to school-financed awards and scholarships funded by companies. These can vary from a one-time award of a few thousand dollars to significant amounts of money over four years. What Is a Good PSAT Score for a National Merit Scholarship? The National Merit Scholarship Corporation (NMSC) has a selection process thats based on score percentiles rather than a particular good PSAT score. First, the National Merit Scholarship Corporation selects the 50,000 students who have the highest PSAT scores among all applicants nationwide. (There are around 1.5 million applicants each year.) Then, the NMSC chooses 16,000 semifinalists. And these semifinalists are selected from individual states, based on state-level PSAT averages. Finalists and winners are selected from these state-level pools. So obviously, its hard to tell what exact PSAT score is good within the Merit Scholarship contest. Fortunately, there are some ways to estimate the cutoff range for a good score, using prior and current PSAT score data. Compass Prep provides a good chart of National Merit Scholarship semifinalist cutof estimations, with figures for each individual state. Based on this data, good PSAT scores for the classes of 2018 and 2019 range somewhere between 2120 and 1480). The National Merit Scholarship Program To answer the first question, the National Merit Scholarship is a grant foundation that gives financial aid to students with demonstrated academic excellence. The sponsor of the Scholarship is the appropriately-named National Merit Scholarship Corporation, which was founded in 1955. Since the founding of the National Merit Scholarship, the number of educational grants given out has increased steadily. The NMS Corporation gave scholarships to 10,600 student recipients in 2005, compared to just 565 recipients in 1956, the initial award year of the program. The National Merit Scholarship gives recognition to high achieving students at three levels: commended student, semifinalist, finalist and winner. On average, 50,000 of the some 1.5 million Merit Scholarship applicants receive commendation from the National Merit Scholarship Corporation. Of these 50,000 formally recognized students, 34,000 merely receive official letters of commendation and no award. The remaining 16,000 move forward in the application process and are given semifinalist status. From there, the bottom 1,000 semifinalists are eliminated and 15,000 finalists are named. All finalists receive a one-time scholarship payment of $2,500. National Merit Finalists Finalists are then eligible to become winners by applying for special school-financed awards and corporate-funded scholarships. These additional awards offered through the NMSC’s academic and business partners vary greatly. Some NMSC partner grants offer just a few thousand more dollars than the initial $2,500 scholarship. Other special awards can be extremely generous, giving substantial four-year renewable funding to carry students through their degree paths. To answer the second question posed at the beginning of this blog post, the National Merit Scholarship is almost certainly worth trying for. To apply, students need to take the PSAT in their junior year of college. This is a good, affordable ($15 registration fee) warmup exercise for the SAT, even if the student doesn’t ultimately win the Scholarship. Applicants also need to write an application essay and get recommendations from faculty at their high schools. This is also good practice for college prep, since many university application processes require similar entrance essays and academic letters of reference. Additionally, the value of a Merit Scholarship extends well beyond the dollar amounts given out. Even a letter of commendation looks impressive to university admission offices, and both finalists and semifinalists are prized by universities. In fact, many universities proudly publish statistics on how many NMSC-recognized students they have on campus.

Face-Name Recall and Associative Memory - 670 Words

Furthermore, while numerous studies have investigated the effect of either mnemonic cues and level of processing on associative memory, few have analyzed the additive/combined effect these memory strategies might have on face-name memory performance. A study by Yesavage, Rose, and Bower (1983), comparing elderly participant’s performance across memory strategies proven to enhance face-name associations both replicates and extends McCarty’s earlier research on strategies to improve face- name associations. This experiment both replicates and extends McCarty’s earlier findings of on strategies to improve face-name associations. This study evaluates the efficacy of recalling name-face associations in conditions requiring semantic judgments of the name face association and in condition not requiring affective judgment. Three groups of participants were tested. The image group was provided the prominent feature of the face, a name transformation, and an image association of the face-name pair. The image + judgment group was provided identical information, but they were asked to judge the pleasantness of the image association, and the no image group was given the prominent feature of the face, and the name transformation, but was not taught to form an image associating the prominent facial feature with the name transformation. In the no image condition participants encoded faces and names as separate units. For the image condition subjects formed visual image associationsShow MoreRelatedThe Use Of Ecstasy And Its Effects On Society1657 Words   |  7 Pagesdefinition of ecstasy, as defined by Google, is an overwhelming feeling of great happiness or joyful excitement. It is no coincidence that a drug that releases copious amounts of serotonin and dopamine is commonly referred to as ecstasy. 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Hares and Rabbits - Leporidae - The Animal Encyclopedia

Hares and rabbits (Leporidae) together form a group of lagomorphs that includes about 50 species of hares, jackrabbits, cottontails and rabbits. Hares and rabbits have short bushy tails, long hind legs and long ears. In most of the ecosystems they occupy, hares and rabbits are the prey of numerous species of carnivores and predatory birds. Consequently, hares and rabbits are well-adapted for speed (necessary for outrunning their many predators). The long back legs of hares and rabbits enable them to launch into motion quickly and sustain the fast running speeds for considerable distances. Some species can run as fast as 48 miles per hour. The ears of hares and rabbits are generally quite large and well suited to efficiently capture and locate sounds. This enables them to take notice of potential threats at the first suspicious sound. In hot climates, large ears offers hares and rabbits an additional benefit. Due to their large surface area, the ears of hares and rabbits serve to disperse excess body heat. Indeed, hares that live in more tropical climates have larger ears than do those that live in colder climes (and thus have less need for heat dispersal). Hares and rabbits have eyes that are positioned on either side of their head such that their field of vision includes a complete 360 degree circle around their body. Their eyes are large, enabling them to take in ample light in the dim conditions present during the dawn, dark and dusk hours when they are active. The term hare is generally used to refer only to true hares (animals belonging to the genus Lepus). The term rabbit is used to refer to all remaining subgroups of the Leporidae. In broad terms, hares tend to be more specialized for rapid and sustained running while rabbits are more adapted for digging burrows and exhibit lower levels of running stamina. Hares and rabbits are  herbivores. They feed on a variety of plants including grasses, herbs, leaves, roots, bark and fruits. Since these food sources are difficult to digest, hares and rabbits must eat their feces so that food passes through their digestive tract twice and they can extract every last nutrient possible from their meals. This double digestive process is in fact so vital to hares and rabbits that if they are prevented from eating their feces, they will suffer malnutrition and die. Hares and rabbits have a nearly worldwide distribution that excludes only Antarctica, parts of South America, most islands, parts of Australia, Madagascar, and the West Indies. Humans have introduced hares and rabbits to many habitats they otherwise would not naturally inhabit. Hares and rabbits reproduce sexually. They exhibit high reproductive rates as a response to the high mortality rates they often suffer at the hands of predation, disease and harsh environmental conditions. Their gestation period averages between 30 and 40 days. Females give birth to between 1 and 9 young and in most species, they produce several litters per year. The young wean at about 1 month of age and reach sexual maturity quickly (in some species, for example, they are sexually mature at just 5 months of age). Size and Weight About 1 to 14 pounds and between 10 and 30 inches long. Classification Hares and rabbits are classified within the following taxonomic hierarchy: Animals Chordates Vertebrates Tetrapods Amniotes Mammals Lagomorphs Hares and Rabbits There are 11 groups of hares and rabbits. These include true hares, cottontail rabbits, red rock hares, and European rabbits as well as several other small groups. Evolution The earliest representative of hares and rabbits is thought to be Hsiuannania, a ground dwelling herbivore that lived during the Paleocene in China. Hsiuannania is know from just a few fragments of teeth and jaw bones but scientists are quite certain that the hares and rabbits originated somewhere in Asia.

War of 1812 Overview - Aftermath

1814: Advances in the North A Capital Burned | War of 1812: 101 Efforts for Peace As the war raged, President James Madison worked to bring it to a peaceful conclusion. Hesitant about going to war in the first place, Madison instructed his chargà © d’affaires in London, Jonathan Russell, to seek reconciliation with the British a week after war was declared in 1812. Russell was ordered to seek a peace that only required the British to repeal the Orders in Council and halt impressment. Presenting this to the British foreign minister, Lord Castlereagh, Russell was rebuffed as they were unwilling to move on the latter issue. There was little progress on the peace front until early 1813 when Czar Alexander I of Russia offered to mediate an end to hostilities. Having turned back Napoleon, he was eager benefit from trade with both Great Britain and the United States. Alexander also sought to befriend the United States as a check against British power. Upon learning of the czars offer, Madison accepted and dispatched a peace delegation consisting of John Quincy Adams, James Bayard, and Albert Gallatin. The Russian offer was declined by the British who claimed that the matters in question were internal to the belligerents and not of international concern. Progress was finally achieved later that year following the Allied victory at the Battle of Leipzig. With Napoleon defeated, Castlereagh offered to open direct negotiations with the United States. Madison accepted on January 5, 1814, and added Henry Clay and Jonathan Russell to the delegation. Traveling first to Goteborg, Sweden, they then headed south to Ghent, Belgium where the talks were to take place. Moving slowly, the British did not appoint a commission until May and their representatives did not depart for Ghent until August 2. Unrest on the Home Front As the fighting continued, those in New England and the South grew tired of the war. Never a great supporter of the conflict, New Englands coast was raided with impunity and its economy on the verge of collapse as the Royal Navy swept American shipping from the seas. South of the Chesapeake, commodity prices plummeted as farmers and plantation owners were unable to export cotton, wheat, and tobacco. Only in Pennsylvania, New York, and the West was there any degree of prosperity though this was largely related federal expenditures relating to the war effort. This spending led to resentment in New England and the South, as well as precipitated a financial crisis in Washington. Taking office in late 1814, Treasury Secretary Alexander Dallas forecasted a $12 million revenue shortfall for that year and predicted a $40 million shortfall for 1815. Efforts were made to cover the difference through loans and issuing treasury notes. For those who wished to continue the war, there was a genuine concern that there would not be funds to do so. During the course of the conflict, the national debt had ballooned from $45 million in 1812 to $127 million in 1815. While this angered Federalists who had opposed the war initially, it also worked to undermine Madisons support among his own Republicans. The Hartford Convention The unrest sweeping parts of the country came to a head in New England in late 1814. Angered over the federal governments inability to protect its coasts and its unwillingness to reimburse states for doing so themselves, the Massachusetts legislature called for a regional convention to discuss the issues and weigh whether the solution was something as radical as secession from the United States. This proposition was accepted by Connecticut which offered to host the meeting in Hartford. While Rhode Island agreed to send a delegation, New Hampshire and Vermont refused to officially sanction the meeting and sent representatives in an unofficial capacity. A largely moderate group, they convened in Hartford on December 15. Though their discussions were largely limited to a states right to nullify legislation that adversely affected its citizens and issues related to states preempting federal collection of taxes, the group badly erred by holding its meetings in secret. This led to wild speculation regarding its proceedings. When the group released its report on January 6, 1815, both Republicans and Federalists were relieved to see that it was largely a list of recommended constitutional amendments that were designed to prevent foreign conflicts in the future. This relief quickly evaporated as people came to consider the what ifs of the convention. As a result, those involved quickly became and associated with terms such as treason and disunion. As many were Federalists, the party became similarly tainted effectively ending it as a national force. Emissaries from the convention made it as far as Baltimore before learning of the wars end. The Treaty of Ghent While the American delegation contained several rising stars, the British group was less glamorous and consisted of admiralty lawyer William Adams, Admiral Lord Gambier, and Under-Secretary of State for War and the Colonies Henry Goulburn. Due to the proximity of Ghent to London, the three were kept on a short leash by Castlereagh and Goulburns superior, Lord Bathurst. As the negotiations moved forward, the Americans pressed for an elimination of impressment while the British desired a Native American buffer state between the Great Lakes and the Ohio River. While the British refused to even discuss impressment, the Americans flatly refused to consider ceding territory back to the Native Americans. 1814: Advances in the North A Capital Burned | War of 1812: 101 1814: Advances in the North A Capital Burned | War of 1812: 101 As the two sides sparred, the American position was weakened by the burning of Washington. With the deteriorating financial situation, war weariness at home, and concerns over future British military successes, the Americans became more willing to deal. Similarly, with fighting and negotiations at a stalemate, Castlereagh consulted the Duke of Wellington, who had turned down command in Canada, for advice. As the British held no meaningful American territory, he recommended a return to status quo ante bellum and an immediate end to the war. With talks at the Congress of Vienna breaking down as a rift opened between Britain and Russia, Castlereagh became eager to end the conflict in North America to focus on European matters. Renewing the talks, both sides ultimately agreed to a return to status quo ante bellum. Several minor territorial and border issues were set aside for future resolution and the two sides signed the Treaty of Ghent on December 24, 1814. The treaty included no mention of impressment or a Native American state. Copies of the treaty were prepared and sent to London and Washington for ratification. The Battle of New Orleans The British plan for 1814 called for three major offensives with one coming from Canada, another striking at Washington, and the third hitting New Orleans. While the thrust from Canada was defeated at the Battle of Plattsburgh, the offensive in the Chesapeake region saw some success before being halted at Fort McHenry. A veteran of the latter campaign, Vice Admiral Sir Alexander Cochrane moved south that fall for the attack on New Orleans. Having embarked 8,000-9,000 men, under the command of Major General Edward Pakenham, Cochranes fleet arrived off Lake Borgne on December 12. In New Orleans, the defense of city was tasked to Major General Andrew Jackson, commanding the Seventh Military District, and Commodore Daniel Patterson who oversaw the US Navys forces in the region. Working frantically, Jackson assembled around 4,000 men which included the 7th US Infantry, a variety of militia, Jean Lafittes Baratarian pirates, as well as free black and Native American troops. Assuming a strong defensive position along the river, Jackson prepared to receive Pakenhams assault. With both sides unaware that peace had been concluded, the British general moved against the Americans on January 8, 1815. In a series of attacks, the British were repulsed and Pakenham killed. The signature American land victory of the war, the Battle of New Orleans forced the British to withdraw and re-embark. Moving east, they contemplated an attack on Mobile, but learned of the wars end before it could move forward. The Second War of Independence While the British government had speedily ratified the Treaty of Ghent on December 28, 1814, it took much longer for word to reach across the Atlantic. News of the treaty arrived in New York on February 11, a week after the city learned of Jacksons triumph. Adding to the spirit of celebration, the news that the war had ended quickly spread throughout the country. Receiving a copy of the treaty, the US Senate ratified it by a 35-0 vote on February 16 to officially bring the war to a close. Once the relief of peace had worn off, the war was viewed in the United States as a victory. This belief was propelled by victories such as New Orleans, Plattsburgh, and Lake Erie as well as by the fact that the nation had successfully resisted the power of the British Empire. Success in this second war of independence helped forge a new national consciousness and ushered in the Era of Good Feelings in American politics. Having gone to war for its national rights, the United States never again was refused proper treatment as an independent nation. Conversely, the war was also viewed as victory in Canada where the residents took pride in having successfully defended their land from American invasion attempts. In Britain, little thought was given to the conflict especially as the spectre of Napoleon rose again in March 1815. While the war is noew generally viewed as stalemate between the principal combatants, the Native Americans exited the conflict as losers. Effectively forced out of the Northwest Territory and large tracts of the Southeast, their hope for a state of their own vanished with the end of the war. 1814: Advances in the North A Capital Burned | War of 1812: 101

No Euthanisia in Our Christian Community - 810 Words

Firstly, as a Christian community, the practice of euthanasia in hospitals is an act against our morals and values since the process of someone dying is very significant in spiritual matters and should be best if it is not disturbed by human activity. As humans, we should all know that ones life and existence in this planet is one of the most valuable gift as we all posses and carry Gods image and His distinct values. Looking more into this, humans posses a capacity that no other living being can do, and that is to make them see things in another perspective, using the complexity of their minds to develop abilities. Thus, a patients life cant just end by force, no matter the circumstances that they are dying. Ending ones life isnt the only way to eradicate ones pain when dying, rather, there are other ways to comfort a patient. One must be open to other suggestive ways of care such as the showering of care and affection, supporting their loved one till their dying breath, and to be a ccepting of ones dying condition. Christians should learn to value their life more and the lives of others around them as these were all handed down by God and expected to be taken care of. Secondly, if the act were to be legalized, it could give the chronically ill and dying patients the contagious idea of self-abuse and suicide. The idea of performing suicide by euthanasia if encouraged by doctors for the patient leaves an unintended consequence on society, more especially to the

Patterns Within Systems of Linear Equations Free Essays

Jasmine Chai Grade 10 196298501 Patterns within systems of linear equations Systems of linear equations are a collection of linear equations that are related by having one solution, no solution or many solutions. A solution is the point of intersection between the two or more lines that are described by the linear equation. Consider the following equations: x + 2y = 3 and 2x – y = -4. We will write a custom essay sample on Patterns Within Systems of Linear Equations or any similar topic only for you Order Now These equations are an example of a 2Ãâ€"2 system due to the two unknown variables (x and y) it has. In one of the patterns, by multiplying the coefficient of the y variable by 2 then subtract the coefficient of x from it you will be given the constant. As a word equation it can be written like so with the coefficient of x as A and coefficient of y as B and the constant as C, 2B – Ax = C. This can be applied to the first equation (x + 2y = 3) as 2(2) – 1 = 3. To the second equation (2x – y = -4), it is -1(2) – 2 = -4. By using matrices or graphs, we can solve this system. Regarding other systems that also has such as pattern, it should also have the same solution as the two examples displayed. For instance, 3x + 4y = 5 and x -2y = -5, another system, also displays the same pattern as the first set and has a solution of (-1, 2). Essentially, this pattern is indicating an arithmetic progression sequence. Arithmetic progression is described as common difference between sequences of numbers. In a specific sequence, each number accordingly is labelled as an. the subscript n is referring to the term number, for instance the 3rd term is known as a3. The formula, an = a1 + (n – 1) d, can be used to find an, the unknown number in the sequence. The variable d represents the common difference between the numbers in the sequence. In the first equation (x + 2y = 3) given, the common differences between the constants c – B and B – A is 1. Variable A is the coefficient of x and variable b represents the coefficient of y, lastly, c represents the constant. The common difference of the second equation (2x – y = -4) is -3 because each number is decreasing by 3. In order to solve for the values x and y, you could isolate a certain variable in one of the equations and substitute it into the other equation. x + 2y = 3 2x – y = -4 x + 2y = 3 * x = 3 – 2y * 2(3 – 2y) – y = -4 * 6 – 4y – y = -4 * 6 – 5y = -4 * -5y = -10 * y = 2 Now that the value of y is found, you can substitute 2 in as y in any of the equations to solve for x. x + 2y = 3 x + 2(2) = 3 * x + 4 = 3 * x = 3 – 4 * x = -1 Solution: (-1, 2) Even though the solution has already been found, there are many different ways to solve it, such as graphically solving it. By graphing the two linear lines, you can interpolate or extrapolate if necessary to find the point where the two lines intersect. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Graph 1 Graph 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Just from the equations given, it is not in a format where it can be easily graphed. By changing it into y=mx + b form, the first equation will result as y = – (1/2) x + 3/2 or y = -0. 5x + 1. 5 and the second equation will result as y = 2x + 4. The significance of the solution is that it is equal to the point of intersection as shown on Graph 1. This can then allow the conclusion that the solution of the two linear equations is also the point of intersection when graphed. According to this arithmetic progression sequence, it could be applied to other similar systems. For instance, the examples below demonstrates how alike 2Ãâ€"2 systems to the previous one will display a similarity. Example 1: In the first equation the common difference between (3, 4 and 5) is 1. In the second equation, the common difference is -3. The common differences in these equations are exact to the previous example. 3x + 4y = 5 x – 2y = -5 x – 2y = -5 * x = 2y – 5 (Substitution) 3x + 4y = 5 * 3(2y – 5) + 4y = 5 * 6y – 15 + 4y = 5 * 10y – 15 = 5 * 10y = 20 * y = 2 (Substituting y) x – 2y = -5 * x – 2(2) = -5 * x – 4 = -5 * x = -5 +4 * x = -1 Solution: (-1, 2) Example 2: In the first equation below, it has a common difference of 18 for (2, 20 and 38). For the second equation, in (15, -5 and -25), it has a common difference of -20. In this example, the system is solved graphically. 2x + 20y = 38 15x – 5 y = -25 Solution: (-1, 2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Graph 2 Graph 2 | | | From the examples given above that are very similar to the first system, we can conclude that there is something common between them, that is the point of intersection or the values of x and y. That would imply that the x and y values and the point of intersection will always be (-1, 2) for all systems that follow arithmetic progression sequences. Due to that similarity, an equation that can be applied to these types of equations can be made. If the first coefficient of the first equation is identified as A and the common difference is c, an equation such as, Ax + (A + c) y = A + 2c, is made. This equation is so, because it is describes an arithmetic sequence, where the coefficients and constant are increasing by one in response to the coefficient before. In the second equation of the system, another equation can be made relatively the same to the first, with exceptions of different variables used. If B is used to represent the first coefficient of the second equation and d is used as the common difference, the equation, Bx + (B + d) y = B + 2d is created. With 2 equations, we have now created a system; to solve the system we can use the elimination method. This method is used to eliminate certain variables in order to find the value of another variable. After doing so, you could substitute in the value for the found variable and solve for the other(s). Ax + (A + c) y = A + 2c Bx + (B + d) y = B + 2d In order to use the elimination method, you must make the coefficient of x or y the same depending on which one you would like to eliminate. In this case, we will start by eliminating x. To proceed to do so, we must first multiply the first equation by B and the second equation by A: ABx + (AB + Bc) y = AB + 2Bc ABx + (AB + Bd) y = AB + 2Bd After we have made the coefficient of x the same for both equations, we can now subtract the equations from one another: ABx + ABy + Bcy = AB + 2Bc ABx + ABy + Bdy = AB + 2Bd * Bcy – Bdy = 2Bc – 2Bd To find the value of y, we must isolate the variable y. Bcy – Bdy = 2Bc – 2Bd * y(Bc – Bd) = 2(Bc – Bd) * y = 2 Now that the value of y is found, to find the value of x is to substitute the value of y, which is 2, into any equation that includes that variable x and y. Bx + (B + d) y = B + 2d * Bx + (B + d) 2 = B + 2d * Bx + 2B + 2d = B + 2d * Bx + 2B – B = 2d – 2d * Bx + B = 0 * Bx = -B * x = -1 To conclude the results of the equations above, it is making thee statement that all 2Ãâ€"2 systems that display an arithmetic progression sequence, which has a common difference between the coefficients and constant, it will have a result, point of intersection, of (-1, 2). To confirm that this is correct, the example systems below will demonstrate this property: Equation 1 (common difference of 8): 2x + 10y = 18 Equation 2 (common difference of 3): x + 4y = 7 Substitution Method x + 4y = 7 * x = 7 – 4y Substitute 2x + 10y = 18 * 2 (7 – 4y) + 10y = 18 * 14 – 8y +10y = 18 * 14 + 2y = 18 2y = 18 – 14 * 2y = 4 * y = 2 Substitute x + 4y = 7 * x + 4(2) = 7 * x + 8 = 7 * x = 7 – 8 * x = -1 Solution: (-1, 2) Once again from the example above, it displays that the solution or the point of intersection is identified as (-1, 2). From previous examples, all have a common difference that is different from the other equation involved in that system. In the fol lowing example, it will experiment whether having the same common difference will make a difference in the result. Equation 1 (common difference of 3): 2x + 5y = 8 Equation 2 (common difference of 3): x + 3y = 6 Graph 3 Graph 3 As you can see on the graph, it shows that the two lines do not intersect at (-1, 2) even though it is a 2Ãâ€"2 system that has a common difference in both equations, meaning that the intersection at (-1, 2) can only be applied to systems that has 2 different common differences. To conclude, all 2Ãâ€"2 systems that follow arithmetic progression sequence with different common difference have a solution of (-1, 2). Furthermore, now that it is known that there is a certain pattern for a specific type of system, if this property is applied to a 3Ãâ€"3 system, with 3 different variables can it still work? Consider the following 3Ãâ€"3 system, (x + 2y + 3z = 4), (5x + 7y + 9z = 11) and (2x + 5y + 8z = 11). In this system, it has similar patterns to the 2Ãâ€"2 systems above due to its arithmetic progression. In the first equation, it has a common difference of 1 and the second equation has a common difference of 2 and lastly, the third equation has a common difference of 3. To solve this system, we can solve it using the method of elimination or matrices. Equation 1 (common difference: 1): x + 2y + 3z = 4 Equation 2 (common difference: 2): 5x + 7y + 9z = 11 Equation 3 (common difference: 3): 2x + 5y + 8z = 11 Elimination Method To eliminate the variable x, we must first start by making the coefficients of x in two equations the same. We can do so by finding the lowest common multiple of the two coefficients and multiplying the whole equation by it. Equation 1: x + 2y + 3z = 4 * 2(x + 2y + 3z = 4) * 2x + 4y + 6z = 8 We can eliminate the variable x now that the coefficients of x in both equations are the same. To eliminate x, we can subtract equation 3 from equation 1. Equation 1 and 3: 2x + 4y + 6z = 8 2x + 5y + 8z = 11 -y -2z = -3 After eliminating x from two equations to form another equation that does not involve x (-y -2z = -3), another equation that does not involve x must be made to further eliminate another variable such as y or z. Equation 1: x + 2y + 3z = 4 * 5(x + 2y + 3z = 4) * 5x + 10y + 15z = 20 We can eliminate the variable x now that the coefficients of x in both equations are the same. To eliminate x, we can subtract equa tion 2 from equation 1. Equation 1 and 2: 5x + 10y + 15z = 20 – 5x + 7y + 9z = 11 3y + 6z = 9 Now that two different equations that do not involve x ((-y -2z = -3) and (3y + 6z = 9)) are created, we can find the common coefficient of y and eliminate it to find the value of the variable z. Let (-y -2z = -3) to be known as equation A and (3y + 6z = 9) will be known as equation B. Equation A: -y -2z = -3 * 3(-y -2z = -3) * -3y -6z = -9 Equation A and B: -3y -6z = -9 + 3y + 6z = 9 0 = 0 As you can see from the result, 0 = 0, this is indicating that the system either has many solutions, meaning a collinear line or no solution, where all the lines do not intersect together at a specific point. Even if you attempt to isolate a different variable it will still have the same result. For instance, using the same equations above, you eliminate the variable y first as displayed below. Equation 1 (common difference: 1): x + 2y + 3z = 4 Equation 2 (common difference: 2): 5x + 7y + 9z = 11 Equation 3 (common difference: 3): 2x + 5y + 8z = 11 Elimination Method Equation 1: x + 2y + 3z = 4 * 7(x + 2y + 3z = 4) * 7x +14y + 21z = 28 Equation 2: 5x + 7y + 9z = 11 * 2(5x + 7y + 9z = 11) * 10x + 14y + 18z = 22 Equation 1 and 2: 7x +14y + 21z = 28 – 10x + 14y + 18z = 22 3x + 3z = 6 Equation 1: x + 2y + 3z = 4 * 5(x + 2y + 3z = 4) * 5x +10y + 15z = 20 Equation 3: 2x + 5y + 8z = 11 * 2(2x + 5y + 8z = 11) * 4x + 10y +16z = 22 Equation 1 and 3: 5x +10y + 15z = 20 – 4x + 10y +16z = 22 x – z = -2 Two equations have been made that has already eliminated the variable y. Let (-3x + 3z = 6) be equation A and let (x – z = -2) be equation B. Doing this, is in attempt to sol ve for variable x. Equation A: -3x + 3z = 6 Equation B: x – z = -2 * 3(x – z = -2) * 3x – 3z = -6 Equation A and B: -3x + 3z = 6 + 3x – 3z = -6 0 = 0 As you can see the result, it is the same even if you try to solve another variable, from that we can confirm that this system has either no solution or infinite solutions, meaning that they are collinear lines. Furthermore, because this is a 3Ãâ€"3 system, meaning that it has three different variables, such as x, y and z, graphing it will also be very different from a graph of a 2Ãâ€"2 system. In a 3Ãâ€"3 system, the graph would be a surface chart, where the variable z allows the graph to become 3D. From this, we can conclude 3Ãâ€"3 systems that follow an arithmetic progression will always have either no solution or infinite solutions. This is saying that all linear equations do not intersect together in one point or they do not intersect. A way to prove this is through finding the determinant. The determinant is a single number that describes the solvability of the system. To find the determinant of all 3Ãâ€"3 systems that possesses arithmetic progression, we can start by creating a formula. Allow the first coefficient of the first equation be A and the second equation’s first coefficient be B and lastly, the first coefficient of the third equation be C. The common difference of equation one will be c, the common difference of equation two will be d, and the common difference of equation e will be e. This can be described through the following equations: 1. Ax + (A + c) y + (A + 2c) z = (A + 3c) 2. Bx + (B + d) y + (B + 2d) z = (B + 3d) 3. Cx + (C + e) y + (C + 2e) z = (C + 3e) When developing a matrix to find the determinant, you must have a square matrix. In this case, we do not have a square matrix. A square matrix is where the number of rows and columns are equal, for example, it could be a 2Ãâ€"2, 3Ãâ€"3, or 4Ãâ€"4. Looking at the equations, it is a 3Ãâ€"4 matrix; as a result it must be rearranged. Below is the rearranged matrix of the equations above. x A (A + c) (A + 2c) (A + 3c) y B (B + d) (B + 2d) = (B + 3d) z C (C + e) (C + 2e) (C + 3e) To find the determinant, you must find 4 values from the 3Ãâ€"3 matrix that helps find the determinant of A, B and C. In this case, if you were to find the values for A, you would cover the values that are in the same row and column as A, like so, A (A + c) (A + 2c) B (B + d) (B + 2d) C (C + e) (C + 2e) You would be left with four separate values that can be labelled as A, B, C and D. Respectively to the model below: a b c d In order to find the determinant you must find the four values for A, (A + c) and (A +2c). To find the determinant the equation ad – cb is used. The equation in this situation would be like the one below: A[(B + d)(C + 2e) – (C + e)(B + 2d)] – (A + c)[B(C + 2e) – C(B + 2d)] + (A +2c)[B(C + 2e) – C(B + 2d)] Expand * = A(BC – BC + Cd – 2Cd + 2Be – Be + 2de – 2de) – (A + c)(BC – BC + 2Be – 2Cd) + (A + 2c)(BC – BC + 2Be – 2Cd) Simplify 2ABe – 2ABe + 2ACd – 2ACd + 2Ccd – 2Ccd + 2Bce – 2Bce * = 2ABe – 2ABe + 2ACd – 2ACd + 2Ccd – 2Ccd + 2Bce – 2Bce * = 0 As it is visible, above it shows that the determinant found in this type of matrix is zero. If it is zero, it means that there are infinite answers or no answer at all. Using technology, a graphing calculator, once entering a 3Ãâ€"3 matrix that exhibits arithmetic progression, it states that it is an error and states that it is a singular matrix. This may mean that there is no solution. To conclude, there is no solution or infinite solution to 3Ãâ€"3 systems that exhibit the pattern of arithmetic sequencing. This can be proved when the sample 3Ãâ€"3 system is graphed and results as a 3D collinear segment. As well as the results from above when a determinant is found to be zero proves that 3Ãâ€"3 systems that pertains an arithmetic sequence. Arithmetic sequences within systems of linear equations are one pattern of systems. Regarding other patterns, it is questionable if geometric sequences can be applied to systems of linear equations. Consider the following equations, x + 2y = 4 and 5x – y = 1/5. It is clear that the coefficients and constants have a certain relation through multiplication. In the first equation (x + 2y = 4), it has the relation where it has a common ratio of 2 between numbers 1, 2 and 4. For the second equation (5x – y = 1/5), it has a common ratio of -1/5 between 5, -1 and 1/5. The common ratio is determined through the multiplicative succession from the previous number in the order of the numbers. When the equations are rearranged into the form y=mx+b, as y = – ? x + 2 and y = 5x – 1/5, there is a visible pattern. Between the two equations they both possess the pattern of the constant, where constant a is the negative inverse of constant b and vice versa. This would infer that if they are multiplied together, as follows (-1/2 x 2 = -1 and 5 x -1/5 = -1), it will result as -1. With equations that are also similar to these, such as the following, y = 2x – 1/2, y = -2x + 1/2, y = 1/5x – 5 or y = -1/5x +5. Displayed below, is a linear graph that shows linear equations that are very similar to the ones above. Graph 4 Graph 4 From the graph above, you can see that the equations that are the same with exceptions of negatives and positives, they reflect over the axis and displays the same slope. For instance, the linear equations y = 2x -1/2 and y=-2x +1/2 are essentially the same but reflected as it shows in the graph below. Also, all equations have geometric sequencing, which means that they are multiplied by a common ratio. Secondly, the points of intersection between similar lines are always on the x-axis. Graph 5 Graph 5 Point of intersection: (0. 25, 0) Point of intersection: (0. 25, 0) To solve a general 2Ãâ€"2 system that incorporates this pattern, a formula must be developed. In order to do so, something that should be kept in mind is that it must contain geometric sequencing in regards to the coefficients and constants. An equation such as, Ax + (Ar) y = Ar2 with A representing the coefficients and r representing the common ratio. The second equation of the system could be as follows, Bx + (Bs) y = Bs2 with B as the coefficient and s as the common ratio. As a general formula of these systems, they can be simplified through the method of elimination to find the values of x and y. Ax + (Ar) y = Ar2 Bx + (Bs) y = Bs2 Elimination Method B (Ax + (Ar) y = Ar2) * BAx + BAry = BAr2 A (Bx + (Bs) y = Bs2) * ABx + ABsy = ABs2 Eliminate BAx + BAry = BAr2 – ABx + ABsy = ABs2 BAry – ABsy = BAr2 – ABs2 ABy (r – s) = AB (r2 – s2) * y = (r + s) Finding value of x by inputting y into an equation ABx + ABsy = ABs2 * ABx + ABs(r + s) = ABs2 * ABx = ABs2 – ABs(r +s) * x = s2 – s(r +s) * x = s2 – s2 – rs * x = rs To confirm that the formula is correct, we can apply the equation into the formula and solve for x and y and compare it to the results of graph 4. T he equations that we will be comparing will be y = 5x – 1/5 and y = -1/5x + 5. The point of intersection, (1, 4. 8) of these equations is shown graphically on graph 4 and 6. The common ratio (r) of the first equation is -0. and the common ratio, also known as s in the equation of the second equation is 5. X = – (-0. 2 x 5) = 1 Y = (-0. 2 + 5) = 4. 8 As you can see, above, the equations are correctly matching the point of intersection as shown on the graphs. Due to such as result, it is known that it can now be applied to any equations that display geometric sequencing. Graph 6 Graph 6 Resources: 1. Wolfram MathWorld. Singular Matrix. Retrieved N/A, from http://mathworld. wolfram. com/SingularMatrix. html 2. Math Words. Noninvertible Matrix. Retrieved March 24, 2011 from, http://www. mathwords. com/s/singular_matrix. htm How to cite Patterns Within Systems of Linear Equations, Essay examples

Discuss About The Managerial Attributes And Executive Compensation

Question: Discuss about the Managerial Attributes and Executive Compensation. Answer: Introduction: In the recent times, it has been observed that the company that made several changes in the corporate and annual report structure. The Australian government rules suggest the company to include more information in the financial statement of the company. AASB is not responsible for giving more importance on the interest of stakeholders as they have been observed as the real benefactor of the annual report published by a particular organization. Hence, it has to be noted that the companies not only date to provide the financial information but it also needs to include non-financial items in the annual report so that the stakeholders can obtain the required information. Furthermore, the companies need to disclose the different types of accounting standards and methods, which have been followed in order to maintain the records throughout the financial year while preparation of the statements (Mora and Walker 2015). Australia and New Zealand banking group Limited, headquartered at Melbourne whose lending activities are controlled by the government with employ strength of more than 48,000. The banking group operates with its subsidiaries in providing different types of financial products and retail services and serving institutional customers and small business units. Some of the companys retail product consists of house loans, credit cards, merchant services, transaction banking, investment products and personal loans. The bank also provides commercial services such as cash management accounts and long-term deposits. It is also responsible for offering corporate banking service to large corporate, multinational corporations and small listed companies. In addition to the aforementioned services, the bank is also known for providing liquidity solution and working capital requirements including supply chain financing, trade finance, documentary trade, clearing services and risk management assistanc e to several clients via foreign exchange. In addition to this the bank is also responsible for providing mortgage insurance products, superannuation, general insurance product and savings account services (In.finance.yahoo.com. 2016). The study shows the critical analyses of the annual report of the company and its compliance with the accounting standards in presentation of financial statements. The report describes the usage of annual report in highlighting of information related to compensation and benefits of employees who are considered as a part of stakeholder of ANZ banking group thereby explaining the effect of corporate culture on the selected components (Stone 2013). Cultural Effect on Executives Compensation and Employees Benefit: Executives Compensation Structure: According to Luo (2014), the company closes the information related to compensation of auditors by segregating auditors into two parts namely KPMG Australia and overseas related practice. The group has further declared that it has various types of the equity settled compensation plans on share basis. Through the annual report analysis it has been observed that the group has paid more than 40% as fixed cash emulation and 28% as long term incentive awards. The company has disclosed that the negative salary of the Chief Executive Officer i.e. Mr. M. Smith is highest in terms of both cash salary and nonmonetary benefits (Graham, Li and Qiu 2012). Employees Benefit Structure:- The employee benefit seen in terms of provision for liability created by the company for long service leaves which includes on costs leaves. This is calculated based on discounting market yields on a reported date and estimating the future cash outflows. The employee benefit is further seen by the groups operation in contribution to schemes such as superannuation in various countries and these contributions are recognized as a part of expense in the income statement. The group is further stated that the employee benefits scheme is in accordance with AASB 119 guidelines and the measurement is done by using projected unit credit technique. The re-measurements of the superannuation benefits of the employees has been defined with the actuarial gains and the losses including in the net interest and interest income. this has been the accurately recognized as the retained earnings which is made through the comprehensive income and the various types of contributions made by the group in term s of net defined benefit (Shareholder.anz.com. 2016). Cultural Influence on Salary Structure: The cultural influence on the strategy structure is based on the high-class lifestyle of the Australian society. This is evident from the compensation disclosure of all the high-ranking executives in the hierarchy. Despite of such high compensation structure there is uncertainty of future income. Therefore, the group has segregated the payment structure in such a manner that it includes both high cash payments and long-term rewards for the security of the executives (Fischer et al. 2013). Higher Fixed Remunerations in Cash: As previously discussed the executives are known for holding a higher class in the society and maintaining a strong financial live you the companys compensation structure supports the aforementioned lifestyle. Hence it has been observed that ANZ provided higher benefits in terms of cash payments to its executives so that they can place themselves into the higher class in the society. Incentive Schemes: The incentive scheme is based on the performance of the individual employees. For the purpose of this the incentive schemes is based on the remuneration structure which helps the employees and the executives stay motivated for delivering better performance. Long-Term Benefits: The long-term benefit of ANZ group includes provision for superannuation funds in the compensation structure. The long-term benefits are seen to be provided with a secure future with a sound financial salary structure to the employees who can contribute freely in the work (Laing and Perrin 2014). Share-Based Payments: it has been observed that most of the companies are keen to be recognized for their performance. Therefore, the group is known to provide shares to its executive as a part of its incentives or salary, include them as one of the owners of the company so that they always feel motivated, and take pride in working for the bank. This in turn creates a positive relation between the executives and the company (Jerome 2013). Prudence Concept in the Conceptual Framework and AASB Standards: As stated by Mciuc, Hlaciuc, and Ursache (2015), the concept of prudence follows conservatism principle of accounting. According to this, the expenses or the losses should be considered at the time of its occurrence. In this case the incomes or the profits shall be recorded only when it has taken place and realized accordingly. The aforementioned concept ensures that the accountants are able to reduce the risk level preparation of financial statements and delivered the same with more accuracy. Despite this, several scholars and accounting boards believed that prudence concept is conservative in nature, which ignores the expected revenues for reporting (Guiso, Sapienza and Zingales 2015). It has been observed that IASB aims to resolve the issues, which has been overstated or excluded in the financial reports, and make the annual reporting structure more neutral and biased in nature. Due to this the IASB and AASB considers prudence as a vital component in the conceptual framework of accounting (Sedki Smith and Strickland 2014). The Australia and New Zealand banking group is known to follow the conceptual framework provided as per both AASB and IASB in its financial statements preparation. The banking group is known to include the concept of prudence, which complies with the conceptual framework provided as per the AASB guidelines (PwC.2016). Compliance with Conceptual Framework and AASB Standards:- The group has clearly specified that that depression of annual report comply with the Australian accounting standards Board for the share-based payments, employee benefits and life insurance contract. The statement of compliance report further states that the financial statements of the company has been prepared on the basis of Australian accounting standards and the various types of other authoritative pronouncements made in the financial report is based as per the Australian accounting standards Boards (AASB) and Corporations Act 2001. Importance of Prudence Concept: The concept of prudence is important for authenticating and insuring that the users receive accurate data in the financial statement of ANZ banking group. The different types of stakeholders considered the information about the profitability in securing their investments. Therefore, it is important for the company to include the components states the significance of prudence concept in the following ways: This is used by several companies inflate their revenues and increase their profits in the market for the purpose of attracting more number of investors By showcasing your amount of profit several companies are known to evade the burden of huge amount of taxes In several situations is it has been observed that the concept of prudence is used for the purpose of reducing the profits so that the companies do not have to pay high incentive or make an adjustment in the salary increments of the employees The companys need to take precautionary steps to consider the harmful impact of financial manipulation while addressing the prudence in their financial statements. In several situations it had been observed that the company is increased the revenues for projecting a better image in the market and attract more investment in terms of equity financing from the market. In several cases, it has been also observed that the companies enhance the profit by only including the expected or the estimated revenues, which has not yet been realized, and there is no assurance of it to be realized in future (Zhuang 2016). In order to address this issue the accounting boards have decided to include the concept of prudence which will please allow the companys to include the expected profit or the revenues did and unless it has been realized or assured. Additionally, the inclusion of this concept can compel the companies take into account the expected expenses or the losses, which might be overlooked du ring the preparation of the financial statements for the increasing amount of profits (Gebhardt, Mora, and Wagenhofer 2014). Inclusion of Prudence Concept in the Annual Reporting: The recommendations made to the exposure of the troughs of IASB and IFRS the conceptual framework introduced by AASB on prudence has included several new amendments. Among the amendments, AASB has introduced the principle under AASB 15, which includes revenue from contracts with customers. The newer standard suggested that the revenue should be recognized in the financial report as and when it has been realized and assured between the reporting entity and customer. Hence, AASB prevents any kind of putting of entities related to revenues, which are yet to be realized so that the users can be ensured to be fetched with most accurate information during the financial entities in the statements. It also removes the scope of any sort of disparities among the contradictory revenue standards, which has been used by several companies in manipulation of the financial reports (Strouhal et al. 2012). ANZ banking group has clearly stated that it adheres to the Revenue from contracts with customers as stated in AASB 15 guideline issued on December 2014. This contains the disclosure of newer requirement for recognition of revenue. At present, it is expected that a major amount of proportion of the revenue on is outside the scope of AASB 15 although the company is in the process of assessment of impact of this guideline and estimate on the financial report. Conclusion: In the above study, it can be concluded that the financial reporting follows the conceptual framework given by IASB and AASB. It has been also observed that AASB is responsible for adopting several amendments issued by the IFRS and complying with the new standards of IASB on an immediate basis. Hence, it can be said that the group continues to follow either of the stated accounting standards then it can fulfill the various types of other requirements automatically. Thus it can be seen that ANZ banking group complies with the AAS reporting standards and the various disclosures are based as per the amendments made by the AASB. It can be further noted that the company is also prudent enough in reporting its revenues as per the latest guidelines given by the AASB norms. It can be further stated that the various types of consideration related to employee benefits and the compensation considerations have been properly fulfilled as per the Australian accounting standards Board. Hence the co mpany needs to continue in fairly reporting its financial statements for attracting more number of investors which will create more business avenues for the Australia and New Zealand banking group. Reference List: Fischer, R., Ferreira, M.C., Assmar, E.M.L., Baris, G., Berberoglu, G., Dalyan, F., Wong, C.C., Hassan, A., Hanke, K. and Boer, D., 2013. Organizational practices across cultures: An exploration in six cultural contexts. International Journal of Cross Cultural Management, p.1470595813510644 Gebhardt, G., Mora, A. and Wagenhofer, A., 2014. Revisiting the fundamental concepts of IFRS. Abacus, 50(1), pp.107-116 Graham, J.R., Li, S. and Qiu, J., 2012. Managerial attributes and executive compensation. Review of Financial Studies, 25(1), pp.144-186. Guiso, L., Sapienza, P. and Zingales, L., 2015. The value of corporate culture. Journal of Financial Economics, 117(1), pp.60-76. In.finance.yahoo.com. (2016). ANZ.AX Profile | ANZ BANK FPO Stock - Yahoo! India Finance. [online] Available at: https://in.finance.yahoo.com/q/pr?s=ANZ.AX [Accessed 13 Sep. 2016]. Jerome, N., 2013. Application of the Maslows hierarchy of need theory; impacts and implications on organizational culture, human resource and employees performance. International Journal of Business and Management Invention, 2(3), pp.39-45 Laing, G.K. and Perrin, R.W., 2014. Deconstructing an accounting paradigm shift: AASB 116 non-current asset measurement models. International Journal of Critical Accounting, 6(5-6), pp.509-519. Luo, Y., 2014. Executive compensation in emerging markets: Theoretical developments and empirical evidence. eds. Boubaker, S and Nguyen DK,Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus, World Scientific Publishing. Mciuc, G., Hlaciuc, E. and Ursache, A., 2015. The Role of Prudence in Financial Reporting: IFRS versus Directive 34. Procedia Economics and Finance, 32, pp.738-744. Mora, A. and Walker, M., 2015. The implications of research on accounting conservatism for accounting standard setting. Accounting and Business Research, 45(5), pp.620-650 PwC. (2016). Prudence returns: new IASB exposure draft reintroduces controversial term. [online] Available at: https://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/iasb-prudence-conceptual-framework.html [Accessed 13 Aug. 2016]. Sedki, S.S., Smith, A. and Strickland, A., 2014. Differences and Similarities Between IFRS and GAAP on Inventory, Revenue Recognition and Consolidated Financial Statements. Journal of Accounting and Finance,14(2), p.120. Shareholder.anz.com. (2016). [online] Available at: https://shareholder.anz.com/sites/default/files/2015_annual_report.pdf [Accessed 13 Sep. 2016]. Stone, R.J., 2013. Managing human resources. John Wiley and Sons Strouhal, J., Pasekov, M., Blechov, B., Bonaci, C. and Andreicovici, I., 2012. Prudence principle and students' perception on measurement in financial reporting. International Journal of Mathematical Models and Methods in Applied Sciences Zhuang, Z., 2016. Discussion of An evaluation of asset impairments by Australian firms and whether they were impacted by AASB 136. Accounting Finance, 56(1), pp.289-294.