Describe how agency theory can be used to explain the mixture of Essay

Describe how agency theory can be used to explain the mixture of measurement methods observed in contemporary financial reporting. You may provide examples, where relevant, to support your answer - Essay Example orical costs for property and equipment, fair value for financial instruments) were developed, they are used to calculate such monetary amounts that will be used as the basis for the incentives and rewards and, ultimately, to calculate the rewards and incentives. In connection with the above, the principal also often have performance measurement systems in place to assess the performance of their agents. These systems include (among others) an analysis of the financial statements and its relevant ratios (particularly the debt to equity ratio). The measurement methods are used to provide reasonable monetary amounts that can be assigned to each account in the financial statements. In turn, these monetary amounts are used to assess the agent’s performance (in terms of profits, growth and asset base) and are also used to calculate the critical ratios used for such assessment. Thus, the agency theory and its related performance measurement and rewards systems are supported by the measurement methods as the latter provide the means by which the principals can assess the performance of their agents and the amount of rewards or incentives that the former will give to the latter. Corollary with the agency theory is the concept of agency costs (Jensen, n.d.). The measurement methods may actually affect the agency costs. Agency costs may actually encourage â€Å"companies to choose accounting methods that pre-commit against management opportunism† (Christensen and Nikolaev, 2009). This makes companies prefer the historical cost method it is perceived to be a â€Å"more effective mechanism for reducing agency costs† (Christensen and Nikolaev, 2009). Fair value and its estimates, on the other hand, may be subjected to the agent’s (management’s) discretion, which in turn, may translate to an increase in agency costs that will be borne by the company. Thus, the presence (or absence) of agency costs actually influence the choice of measurement methods that will be used by

Marian Wright Edelman Mini Research Paper Example | Topics and Well Written Essays - 500 words

Marian Wright Edelman Mini - Research Paper Example She has also been the director at Harvard University for the Center for law and Education (Children's Defense Fund, 2011). Mrs. Edelman served as member from 1971 – 1977 at the Yale University Corporation. She was the first woman to be elected as the member. Albert Schweitzer Humanitarian Prize, Heinz Award, etc are the some of the many honorary degrees that she has received. Marian Wright Edelman Institute in San Francisco State University was named after her but Mrs. Edelman is not directly associated with the Institute. Still she has extended her support to the institute. The University has strong productive history in attraction of grants for spending on the study of children and families. The Marian Write Edelman Institute achieves its goals through education, training and research. The Institute addresses many issues of equity for children, youth and their families through various programs like interdisciplinary child and adolescent development bachelor's degree, trainin g and education etc. The mission of Children's Defense Fund is LEAVE NO CHILD BEHIND. It's desire to ensure Healthy Start, a Head Start, a Fair Start, a Safe Start and a Moral Start so that every childhood successfully passes to adulthood.

The best way to reduce the number of traffic accidents is to raise age Assignment

The best way to reduce the number of traffic accidents is to raise age limits for younger drivers and lower age limit for the aged ones. To what extent do you agree or disagree - Assignment Example Young drivers do not often exhibit the maturity of middle-aged drivers. Young drivers and to the reckless and vulnerable to pressure from peers about over speeding and daring stunts. Second, young drivers are not conscious of the overpowering nature of an intoxicated mind while driving. As a result, young drivers drive under the influence more often than middle-aged ones. Consequently, many young drivers lose their lives to traffic accidents because of driving while intoxicated (Elvik, 2009, p. 770). Increasing age limits for young drivers should lower the number of traffic accidents in the country yearly. Aged drivers are more vulnerable to health complications such as heart problems, Alzheimer’s disease, and impaired vision than middle-aged drivers are. Such health complications result in slow driving and poor impulses (Coughlin and DAmbrosio, 2012, p. 59). A good driver has to be alert enough to know when to drive at the speed limit and when drive below it. A good driver should also be able to respond quickly in the event of an imminent accident in an effort to prevent it. Lowering age limits for aged drivers should also know the number traffic accidents in the country annually (Rothe, n.d., p. 129). In conclusion, less young and aged drivers there are on the roads, the less traffic accidents will be recorded. Surely many other risk factors for traffic accidents such as faulty vehicles, poor roads, and misleading road signs should be taken into account. However, raising age limits for young drivers and lowering age limits for aged drivers is an equally important effort for reducing road

Wal-Mart Finance Essay Example | Topics and Well Written Essays - 2000 words

Wal-Mart Finance - Essay Example In US, Wal-Mart operates over 4,300 stores and also operates the Sam’s Club chain. Wal-Mart Stores US have different subsidiaries namely Wal-Mart Discount Stores in 692 locations, Wal-Mart Supercentres in 2933 locations, Wal-Mart Neighborhood Markets in 183 locations, SAM’s CLUB in 609 locations and small format stores. In Argentina, Wal-Mart has 4 subsidiaries with 64 retail chain units. Wal-Mart has 10 subsidiaries in Brazil with 484 units in their retail chain. Wal-Mart Canada has 2 subsidiaries with 325 units of retail outlets. In Chile, there are 285 units in their retail chain under 6 subsidiaries. In China Wal-Mart have 6 subsidiaries under which there are 338 units. In Costa Rica Wal-Mart have 4 subsidiaries with a retail chain of 183 units. Under Mexico y Centroamerica there are 3 subsidiaries also performs business in El Salvador with 78 retail chain units. In Germany, Wal-Mart had 85 stores which were taken over by Metro and now Wal-Mart has no operational ac tivities in Germany. (Wal-Mart abandons German venture) In India Wal-Mart have 6 retail chain units under the subsidiary called as Best Price. Mexico y Centroamerica also operates at Guatemala, Honduras and Nicaragua with 177 units, 58 units and 62 units of retail outlets under them. In Mexico Wal-Mart have 1789 retail outlets under 6 subsidiary of Walmart de Mexico y Centroamerica. ... idiaries of Wal-Mart in the various nations mentioned above were under taken by Wal-Mart with the help of acquisitions, some of them are Asda, the Seiyu Ltd., Seiyu Group, etc. (International Operations) For Wal-Mart if we divide the geographic region of operation as International and US market. Then it will be evident that, the Net Sales value of Wal-Mart in US exceeded over $260 billion and 3,804 retail units for the year of 2010-11. The operating income also increased by 3.1% to $20 billion (approx). While the consolidated net sales figure of Wal-Mart in the 15 countries they are operating net sales value amounted to $109 billion and 4,557 retail units for the year 2010-11. The net sales also grew by 12% and the operating income increased by $5.6 billion. The net sales value of Sam’s Club was $49 billion and 609 retail units for the year 2010-11. The increase in net sales was 3.5% over the previous year. (Wal-Mart 2011 Annual Report, 4-9) b) Wal-Mart’s Foreign Exchan ge (FX) Risk Management Policy Is centralized or decentralized? A firm opts to take risk for maximizing their profit on their areas of unique expertise. While, a firm with non-financial activities tries to minimize their foreign exchange risk and interest rate risk (Wallace, 2). Wal-Mart as a retail management chain operates in US and 15 other countries. As per the Foreign Currency Translation policy of Wal-Mart â€Å"The assets and liabilities of all foreign subsidiaries are translated using exchange rates at the balance sheet date. The income statements of foreign subsidiaries are translated using average exchange rates. Related translation adjustments are recorded as a component of other accumulated comprehensive income.† (Reimer, 774) This shows that all the financial transaction systems are

Multiphase Environmental Flows Essay Example | Topics and Well Written Essays - 6500 words

Multiphase Environmental Flows - Essay Example The other method involves the use of Eulerian/ Lagrangian method in which the particles are treated individually or as a group tracked by the Lagrangian frame of reference. Cundall and Starck developed the discrete element method in 1979 and has been widely used for the study of parcticles in the solid state. Studies conducted using DEM coupled with CFD showed that particles move in plugs along the conveying pipes. According to Kuang et al (2008), one of the most important technologies in the industry is dense phase pneumatic transportation of bulk material in the slug form. In his research paper, Kuang et al (2008) focuses on the numerical study of the slug flow in horizontal pneumatic conveyor by means of discrete particle simulation. Low velocity and dense gas system are common in industries such as mineral processing, agricultural industries and chemical industries. Slug flow is used in the industry to transport materials from one location to another. The slug flow is particularly considered in industries because of its ability to reduce the degradation of plant and also reduce wear. The power utilization of the system is also superior as compared to other flows. The study and simulation of the slug flow therefore brings into light the nature of flow with the aim of understanding the system and improving it. According to the research done by Kuang (2008), the particles used were spherical in shape, made of polythene material with a diameter (dp) of the particle density (pp) was 922 Kgm-3.air was used for the gas phase. The viscosity was taken to be and a density of .The underlying equations for particle flow were the rotational and translation motion determined by the Newton's laws of motion given as; 1 And 2 Where mi is the mass, Ii is the momentum or rotation inertia, is the rotational velocity while is the translational velocity of the particles (Kuang et al, 2008). For the gas phase, the gas flow was considered as a continuous phase and the governing equations are as shown below. 3 4 The coupling method used in Kuang (2008) simulations was both DEM and CFD. At an individual particle scale, modeling of the flow was done using DEM while the gas flow modeling was done using CFD. At each step, DEM gave information of the velocity and position of the particles. The data given by DEM was used by CFD to determine the gas flow field; this then yielded the particle fluid forces acting on individual particles. The resulting forces were then incorporated into DEM to yield the next time phase. The simulation test lasted for 15 seconds, numerical flow during the first 2 seconds was not considered in the analysis as only the macroscopically stable slug flow was considered during the simulation. Property mapping due to the many particles that reside in a given cell was done; the mapping technique was used to aid in the correct calculation of particle fluid force acting on the particle. The least square interpolation was used. Based on this interpolation the particle position wa s given by; 5 Where is the gas properties at the cell center and Is the particle position at the cell center. is The vector denoting the distance from the cell center

William Faulkner's story, A Rose for Emily Essay

William Faulkner's story, A Rose for Emily - Essay Example Emily on her part also became recluse after that visit that â€Å"From that time on her front door remained closed, save for a period of six or seven years, when she was about forty, during which she gave lessons in china-painting† (Faulkner line 49). When she died and the doors of her top floor was dismantled, Homer’s body was found â€Å"apparently once lain in the attitude of an embrace† (line 59) attesting Emily’s extreme love that he kept him even if he was already a cadaver. Homer’s death in the hands of Emily was confirmed after her death when the door she sealed for forty years was torn down. The room was not touched and it bore Emily’s elaborate preparation for her supposed wedding that never happened. What is troublesome with Emily’s wedding dress was that it had been there for forty years. And what is more sickening was that Homer’s body was on the bed as well lying and in an advanced state of decomposition. Homer aft er all had never left Emily’s house and the arsenic that she bought might have been used against Homer. It is obvious that Emily is not normal and is suffering from disorder. There are two disorders that existed in the story. First is the social repression characterized by Emily’s tendency to be extremely recluse if she has problem. This first manifested during the death of her father where she was also recluse.

Energy Drinks Essay Example | Topics and Well Written Essays - 1000 words

Energy Drinks - Essay Example The intake of the energy drinks thus is seen to reduce the number of accidents that take place every year. More people are encouraged to use the drinks rather than taking drinks that are alcoholic. It is true to say that the intake of the energy drink has gone up in many parts of the world. The reason for this is that most people are welcoming the drinks intake more and more as compared to the intake of alcoholic beverages. We can, therefore, say that since the energy drinks are not alcoholic, they have become more and more popular in the reduction of accidents. The fact that the energy drinks are seen to be made of low-carb also gives them a major advantage in the market. This means that on the intake of the drink, the whole body is filed up and the brains function is boosted. The consumer, therefore, gains the ability to carry out tasks they couldn’t carry out in the normal states of their bodies. Non-carbohydrate diets are said to be ketogenic. The meaning of this is that t hy cause the body to go into a state of ketosis. When a human body is said to go into a ketosis state, it means that the body fats, as well as the dietary fats, are converted into ketone bodies thus fueling the whole of the body to ninety-five percent. The body becomes very active and the brain becomes very alert causing the person to become more active than they were before the intake of the drink. All the positive effects of the energy drinks result in more people going to the stores and purchasing the drinks.