Inside job Movie Review Example | Topics and Well Written Essays - 750 words

Inside job - Movie Review Example The movie arouses emotions of hatred towards those with financial power and annoyance towards regulatory agencies. The activities portrayed are too inhuman to bear and even come to terms with, which people with such wicked ambition do exist, and little can be done to bring their mindset to a halt. This is including the lack of a conscious, which seems to be the perfect definition of a capitalist nation, and one in which power is given to a chosen few to control the fate of the country’s economics. The worst part in the entire movie is the lack of measures to regulate the financial industry, and especially the replacement of business executives. This is concerning the selfish ambition with no regard, whatsoever, for human welfare, other than propulsion of their business enterprises into greater heights. This is particularly so with the selfish decision made in misleading investors, in internet stocks, to continue investing heavily while then returns, in the future, were not som ething worth considering (Scots 2). It is also frustrating to watch, in the movie, the lack of accountability after the bubble burst in the face of the world. The situation is made worse by the presence of Charles Morris and Lawrence Summers in the movies. They are the most annoying characters in the footage owing to their carefree attitudes in a dire situation that requires seriousness to put the audience at ease. Charles Morris finds it amusing that bankers have taken advantage of the windfall resultant from selfish decisions and misfortunes of members of the public. He is also annoying in his attempt to induce humor in the cheap mindset of the individual bankers at making large fortunes and thinking it is because they are smart, which is the opposite. This is because; his attempts appear as a mockery to the innocent pubic, which loses to the bankers. It also depicts the public as being part of a foolish movement that is easily swayed by winds of selfish ambition. Lawrence summers , though not an official member of the cast, is also annoying with his conceptions of other peoples’ ideas despite being backed by ideas. This is such as the warning given by Raghuram Rajan earlier of the pending financial crisis in the near future, which summers dismisses and mocks (Scott 1). Since the 1980s, the financial sector has undergone a phase of lack of regulation as opposed to the period before it putting the country in the state it currently is. With this mind, the film puts the blame for the situation squarely on the shoulders of both political parties; that is democrats and republicans (Scot 1). This is because during the entire period of lack of regulation, both parties have been in power and have done little to ease the tension in the financial sector. This is as portrayed by Ferguson through the dropping of regulation of the economy in the 1980s and the resultant crisis in the late 2000s. The blame for the entire crisis originates with the government followin g the policy against regularization of the finance industry, which could have been fuelled by financial institutions. However, the main cause of the crisis lies with the selfish bankers individually and their boards for misleading members of the public and capitalizing on their trust in financial institutions. Decisions made by financial services companies led to the meltdown in the financial sector by undermining reports of looming collapse of the financial system.

International Business Course work 2 Coursework Example | Topics and Well Written Essays - 750 words

International Business Course work 2 - Coursework Example Ethnocentricity is defined as the belief in the superiority of ones ethnic group (Thefreedictionary). This quality is very common in a lot of cultures does marketers have to come up with strategies to persuade the population of a specific cultural group to purchase the products and services your company offers. A way to differentiate a company’s product in new marketplace is to create specific branding strategies that are geared towards the purchasing behavior or the target population. The values and beliefs of a country are characteristics that must be analyzed to determine the buyer behaviors of a country and to be able to send out messages that are clear to avoid miscommunications. Colors have different means across cultural boundaries. For example the color red in Europe is a sign of danger, while the same color in Japan means life (Halman). The customs and attitudes of a group of people determine the preferences of the customers of a region. Environmental scanning of the socio-cultural factor is a technique that can allow a firm to determine the existence of subcultures that can create further segmentation of the market that allows for marketing campaigns for specific customer profiles within a culture (Kotler). There are many elements of a culture that a company must be aware in order to operate a successful and profitable operation in an international location. Some of these elements are: local business hours, the existence of consumerism tendencies, society’s view about the importance of tangible possessions, and governmental intervention in local commerce among other elements. The culture of a region is composed of many different elements. The attitude towards work between nations varies considerably. For example American workers are workaholics who on the average work nearly 50 hours a week, while in

How did John Dewey influence on childrens learning

How did John Dewey influence on childrens learning Cambodia was known as Khmer Kingdom, which was one of the most powerful states in South East Asia. (Ayres, 2000, p.1). However, Cambodia has shrunk and deteriorated since the collapse of Khmer Empire. (Duggan, 1996, p.363) The civil war has jeopardized the social and economic development of Cambodia. Most of the social structures and rural infrastructures were completely destroyed during Khmer Rouge, especially in the educational sector, which is one of the most important for developing the country. The education system has changed dramatically since the French colony from 1968 to 1953, in which education started in the pagodas combined modern and traditional pattern a small group of children entered the French school system. ( Duggan, 1996, p.363). Cambodia was granted full independence in 1953 (Ibid). Therefore, Prince Sihanouk was very interested in educational sector, and he decided to adopt 20 percent of the national budget in order to expand the educational system in Cambodia, however, his decision was bitterly criticized by other people for not providing the educational equity, because the rural children did not receive any educational system from the Prince. He just mainly focused on the urban children. (Duggan, 1996, p.364) Lon Nol came to power in 1970, he started cambodianizing by encouraging students to participate in fighting against the national enemy [Vietnamese]. Most of the students were involved in the army, so they were not able to attend schools, and there were not enough teaching materials for the teachers in the classrooms.(Ayres, 2000, pp.76-80) April 17, 1975 Khmer Rouge took control of Phnom Penh and abolished all social structures and some schools were eradicated and others were changed into prisons, workshops, etc., Children were not allowed to study. A Ministry of Education really existed, but did not work actively and there were several textbooks were produced to guide teachers (Ayres, 2000, pp. 109-110). Moreover, Ayres (2000) wrote that the educational crisis in Cambodia between March 1970 and April 1975 was a function of the material and human destruction generated by a nation at war. (p.68) This research will focus on the following questions: 1. What are some of the current problems in education in Cambodia? 2. What is the role of the teacher and methods of instruction in Cambodia? 3. What is John Deweys perspective on the role of the teacher and methods of instruction? 4. What contributions Deweys would be useful in developing the role of the teacher and methods of instruction in Cambodia? 1. The current issues in education in Cambodia. The new government was elected under the supervision and support of the United Nations (UN) which assisted in running a free and fair election in Cambodia in 1993. The democracy and free market have been exercised in Cambodia since then. The foreign investors and international organizations, namely the United Nations Children Fund (UNICEF), the World Bank (WB) and other Non-governmental Organizations (NGOs) began to operate their projects in educational sector in Cambodia. (Duggan 1996, p.362). Although there have been considerable changes recently, the educational system has not reached an international goals by 2015 yet, because the number of drop-out and repetition in primary school is still high. The repetition rates in primary dropped from 26.3 percent to 10.2 percent between 1998 and 2005. In addition, drop-out rates in primary school is less than in secondary school. (MoEYS, 2008, p.8) Noticeably, the quality of education service provided for both in primary and lower secondary levels is still in a bad condition caused by the lack of resources, poorly-trained teachers and principalspoor controlling system, teaching and learning materials and irresponsibility from the district and provincial principals.(World Bank, 2008, p.11) Furthermore, the survey which was conducted by the CSES in 2004, based on the question What are the major problems with schooling in this village? reported that there were three main problems: The living standard of teachers which means that teachers salary is still low that cannot afford to buy anything. Poor infrastructure because the schools are in a bad condition. For example, there are not enough chairs and tables for the students to sit and learn. The location of the schools is not close enough for the students to walk from their home. The collected data provided by EMIS in 2004 detailed that 69 percent of primary school teachers had received a degree from lower secondary school (grade 9), and there was only 7 percent of the teachers who finished the primary school. Besides, there was 24 percent of primary teachers had completed the upper secondary school. (MoEYS, 2008, p. 20) Therefore, the quality of education in Cambodia needs improving. Thus the Royal Government of Cambodia has expanded national budget from 0.9 percent in 1997 to 1.5 percent in 2006. (MoEYS World Bank. June 2008, p.59) .Also, the government has promised to increase salary for all teachers from 15 percent to 20 percent every year. (MoEYS World Bank: June 2008, pp.59-62) 2.1. The role of the teacher in Cambodia The students learning progress is mainly based on the teachers performance in the classroom. Thus the teacher act as the model or sample for the students to acquire knowledge, and teachers must be committed to time and efforts in order to instruct and motivate students to achieve their learning objectives. Teachers have to spend more time beside the office working hour to prepare lesson plans, correct homework and give a social and friendly atmosphere to the students in the classroom in order to develop their learning ability. (World Bank, 2008, p.71) 2.2. The methods of instruction in Cambodia The traditional teaching style, was totally based on the teacher frontal and rote learning, has applied in the Cambodian classroom for many years. But in 2005, the Ministry of Education, Youth and Sports (MoEYS) accepted the new educational theory, which has applied in European and American classrooms, The Principles of Child Friendly Schooling and exercised it Cambodia. These principles are very useful for Cambodian students because it focuses on the childs freedom, which creates a social and friendly environment for the pupils to do a variety of activities in the classrooms. Moreover, it really helps students learn things through their own experiences. (MoEYS World Bank. June, 2008, pp. 71-72) On the other hand, in 2002 the Government of Cambodia passed a new law related Early Childhood Education and Care (ECCE). This law focuses on the child who aged 3 to 8. There are three categories of the programs: First, the Royal Government of Cambodia is responsible for controlling pre-school program. Second, the responsibility comes from the community and the last one is the parents responsibility. The main purpose of the program is to develop not only the childrens mind but also the physical body and the program is under the Department of Early Childhood Education, Ministry of Education, Youth and Sports. (UNESCO, 2006. pp.5-6) 3. What is John Deweys perspective on the role of the teacher and methods of instruction? The man who has changed the educational system from traditional style (authoritarian classroom) to modern style (democratic classroom) is John Dewey. He was known as American psychologist, philosopher, practical teacher and educational reformer, was born in Burlington, New England, Vermont in 1859 and died in 1952. He finished Bachelor degree in 1879 at Vermont University, continued his study in philosophy for a year and received PhD from Hopkins University. (Taneja. V.R. 2010, p.136). Moreover, he worked as a high school teacher at a remote areas in Pennsylvania. He was so curious in philosophy, so he started writing his philosophical essay called Medical physical Assumption of Materialism. (Allen. C. 2005, Track: 139) Beside teaching, Dewey opened his own school University Elementary School. The most important idea of opening this school was to continue to research and experience in new ideas and methods. The children who were under 15 years are permitted to register, and teachers must have many years experience in teaching and the classes are not big, and there are around 10 pupils provided for each teacher. This school was to engage the pupils in social experience. For example, pupils learned how to cook, sew, and weave.(Taneja, 2010, p.p.136-137) Role of the teacher of Dewey For Dewey, the role of the teacher play vitally important role. A Deweyan teacher should be (encourage?) involved in the childs driving force and interests rather than the inculcation of knowledge (fixing ideas in mind by repetition). Moreover, the role of the teacher is to pave the way for the students to experience the consequences in the real world. The other role is to assist the pupils in dealing with contemporary conditions and experiences and activities they have to confront daily. Childs freedom is the most significant of all. However, teachers role is to regulate and organize it well. The teacher should be aware of his own responsibilities and power to instruct the children to acquire the skill and knowledge. In order to save time by not exercising chalk and talk, teacher have to observe, plan and encourage students to learn. Deweyan teachers take a huge responsibility and big chance to provide the pupils with both in democratic co-operation and the higher intellectual pursuits and the fullest aesthetic experience. (Taneja, 2010, pp.150-152) Methods instruction of Dewey According to Dewey, curriculum is not based upon fixed human knowledge, subdivided logically into subjects, and parts of subjects. The curriculum should set up round the childs activities and not subjects. Dewey refused to offer religious and moral education through lessons, but he chose to offer the practical experience. ((Taneja, 2010. p.p.150-152) His contribution and influence Deweys curriculum and methods of teaching have applied not only in the American classrooms but also in the worlds classroom including Cambodia. Dewey had changed the traditional education system into democratic education system by accepting child-centered, which focused attentively on the freedom of the child in the classroom. Conclusion After Khmer Rouge collapsed in January 7, 1979, the new government was installed by the Vietnamese government. Educational system was being restored. However, the Phnom Penh government has estimated that 75 percent of teachers, 96 percent of University students and 67 percent of all primary and secondary school students were murdered. (Beveniste, World Bank, 2008.p.8) Ayres, (200) wrote that in 1979, education was in a severe crisis because there were no settled administrative offices no curricular, teaching materials were not enough and teaching staff is not qualified. Mr. Chan Ven was appointed as the Minister of Education, Youth and Sports with a team of Vietnamese advisers to plan the rehabilitation of Cambodian educational system. Vietnamese government started supporting both the provincial and national levels. Therefore, the Vietnamese was able to hire teachers which were virtually picked up from the streets and village pathway. ( p p.128-130) According to Duggan (1996) in Phnom Penh itself, there were three Vietnamese advisers for every Cambodian official, ten Vietnamese soldiers for every Cambodian one. (p.366) The number of schools has increased rapidly since the 1980s, however, the government of Phnom Penh still faces the big problems running proper educational system because most of teachers are not well-trained and school curricular is not standardized. For instance, farmers, artisans and menial workers were chosen to teachers. Therefore, the Ministry of Education, Youth, and Sports and other international organizations (UNESCO, UNICEF and World Bank) have worked co-operatively to develop the educational sector in order to achieve the Cambodian Millennium Development Goals (CMDG). Moreover, in 2005 Ministry of Education developed national plan of action to reach the goals of educational for all (EFA) by 2015 to ensure that Cambodian children and youths have an equal opportunity to access education. (pp.6-8) In 2004, Ministry of Education, Youth and Sports accepted a new program which is called Child Friendly Schools program focused on primary level.(Ibid) This educational theory might have been affected by the American educational reformer Dewey because his teaching methods and the role of the teacher is to facilitate and motivate the pupils to learn new things through their own freedom and experience. Statement Name: YIM SOPHEAK Date: January 31, 2011 I prepared the following assignment by myself and only with the help of the literature mentioned in the references. I did not use other literature to write my assignment. I know that plagiarism is a serious offence and I am totally aware of the negative consequences. Signature: YIM SOPHEAK

Love And Lust In Shakespeare? :: essays research papers

Love and Lust in Shakespeare’ sonnets Shakespeare’ sonnets are on a variety of themes such as time, love, gender, politics, sexuality, law, methaphysics and many others. They express strong feelings and strong arguments. However shakespeare struggle with love and lust is evident in his sonnets. Troughout the reading of Shakespeare’ sonnets I can persieve that he is a profound admirer of beuty; and he persieves beuty of different ways. There are some kinds of beuty that he considers good for his spirit, and others that he considers bad or evil for his spirit. The beuty of the sun, earth, and sea for example are good for shakespeare; On the other hand the beuty of women is evil for him, because it persuades him to act with lust. Here initiates the dilema that causes the struggle he has with love ans lust. It seems that Shakespeare consider women as symbols of lust, since their beuty seduces men and makes them act in response to the evil desires that are inside of them - desires of the flesh -which corrup the spirit. â€Å" Two loves I have of comfort and despair, which like two spirits do suggest me still: The better angel is a man right fair, The worser spirit a woman, colored ill. To win me soon to hell, my female evil. Tempteth my better angel...and would corrupt my saint to be a devil† ( Sonnet 144, page 821, red book). The beuty of women is the cause of lust, as it is also pictured in sonnet 1, when it says: â€Å" From fairest creatures we desire increase, That thereby beuty’s rose might never die†. Another sonnet that express Shakespeare’s blame on women for being the symbol of passion is sonnet 29: â€Å" A woman’s face with Nature’s own hand painted Hast thou, the master mistress of my passion† (page 811).   Ã‚  Ã‚  Ã‚  Ã‚  Not only the beuty of women causes passion and lust according to shakespeare sonnets, but also the beuty of art seduces men to passionate and lust. In sonnet 128, the author is being seduced by the woman who is playing the instrument; however, in this case he does not feel seduced by the woman, but he is seduced by the song that she is playing:

Fair Value Accounting Essay

This paper attempts to answer the questions: Is Fair Value Fair? In so answering the question there is a need to determine whether the use of fair value accurately portray the value underlying financial and economic transactions; to determine whether there is basis to have one universal standard of valuing the assets and obligations of all firms; to find out whether accounting standards would allow for both historical and fair value and still produce meaningful information for decision making; and establish one is more important between relevancy and reliability and whether one’s the importance each depend upon the financial user. 2. Analysis and Discussion 2. 1 What is meant by being fair? To be fair means giving what is due to a person. If applied to an asset purchased or liability assumed in business, fair value would simply mean that said asset or liability is neither overpriced nor underpriced as a matter of perception. Under the law of economics, fair value would refer to that market price which is approximated by the equilibrium price of a thing or good, which is the value of the something from a seller that is not forced to sell or from a buyer that is not forced to buy. In a business transaction there are always are investors, creditors, and other persons who must get their due in transactions that they will enter into. An investor will know what is fair if the person or entity will earn just enough return above cost of capital and in exchange for the risk that such person or entity is taking. The same must be true with a creditor that the person must also get paid on time on his credit plus a sufficient return for the risk in form of interest and penalties. In terms of viewing the corporation as a business entity, what is fair to it is what will allow it to have a sufficient return for the risk that it is taking above its cost of doing business or cost of capital. To arrive at what is fair the investors and creditors who are called users of financial information, these users must know the true or accurate information about of the company so that they will know whether they are going to earn or lose and make the necessary decision whether they will sell, buy or hold to their investments. In other words, to have the chance of being treated fairly from a transaction, one must have the opportunity to have the true or accurate value of asset or liability being dealt with in a business transaction. The opportunity is thus normally supplied by financial reports prepared by companies and which are made public. It is in these financial reports where values whether fair or historical are reported in accordance with prescribed accounting standards that may come from the Financial Accounting Standards Board (FASB) in the case of US companies and IFRS in case of companies operating in the European Union and in other countries which have adopted the IAS or IFRS. Fair value accounting was made pursuant to FAS 157 as issued by US FASB for companies to reflect the accounting information on how much are the real values of assets, liabilities and equity in the balance sheet as contrasted with presenting the information using the historical cost accounting. The purpose of FAS 157 then was built on a framework whereby financial users are given the chance about the true state or fair value of assets, liabilities and equity for decision making under the impression that things will be fair to users of financial information about a company. Incidentally, FAS 157 defines fair value almost very closely to what was discussed and analyzed so far. It is the price that would be received â€Å"to sell an asset or paid to transfer a liability in an orderly transaction between market participants in a measurement date† (Sortur, 2007). 2. 2 Does the use of fair value accurately portray the value underlying financial and economic transactions? To the extent that fair value concept is discussed so far, there is the presumed proposition that the use of fair value will accurately portray the value underlying the financial economic transaction. As to whether this is true, this subsection will have to evaluate the subsequent result on what happened upon the application of 157. In the case of banks, there are those who have to write down the value of assets because of their perception that values have declined due to existing market conditions (Chasan, 2008: Rees-Mogg, 2007). The economic effects however were not favorable to affected interested parties since this action of the banks has produced a backlash. Investors of these banks have lost values of their investments. As a result, the banks have become more risky and depositors lost their trust too in the banking system. If indeed the banks were just reflecting the true values of the assets, how come the reaction of these banks as matter of complying with the requirements of the FAS I57 was not good for many of the affected parties? Would it proper then to deduce that the application of FAS 157 is not fair or that FAS 157 fair value is not fair? If the answers to both of these questions are in the affirmative, then this would have the connotation that what is unfavorable to others is not fair. But how if the values being reflected in the write down are indeed the true values, would the fact that users of financially information get adversely affected make the FAS 157 not fair any more? It would seem that it would be not correct to say fair value accounting or the use of fair value will not be fair if users get affected or have the perception of not getting what they feel or perceive to deserve even if the information is indeed accurate. Otherwise, fair value accounting would be equated with sure profits which could never be within the contemplation of the use of information in decision making. Being fair therefore must first and foremost be characterized to represent the true and accurate information and consequence would be justified by such quality of information. To answer squarely whether the use of fair value accurately portray the value underlying financial and economic transactions, this paper would have to answer in the affirmative. Based on foregoing analysis the FAS 157 aims to reflect the values what would approximate the market price since it is â€Å"the price to sell an asset or paid to transfer a liability in an orderly transaction between market participants in a measurement date† (Sortur, 2007). FAS 157 fair value is therefore the result of the business transaction using the exit price (Sortur, 2007) and is determined by the buyers and sellers in the market. It is therefore not the job of FAS 157 to create what is unfair but would have only to reflect the true values of assets or liabilities that would have to be reported. Therefore, fair value accounting or the use of fair value must be upheld to be fair if it would reflect or would cause the reflection of what are true values. Indeed, it must be the capital markets or the buyers and sellers who will determine the market value or fair value and not the accounting standard. The only role of the accounting standard is to cause its reflection in financial reports of companies because of the requirement to make public their financial statement to investors which would reflect the fair values of assets and liabilities. There is argument that the intention of 157 Accounting rule FAS 157 is good but one cannot prevent people from taking advantage of the new rule to what could further their interest. It is further argued that in whatever one would like to look at it, the generic thing about business is still the desire for profit by which people are motivated with their personal interest to get more wealth (Brigham and Houston, 2002). In response, the use of fair value does consent to allowing people to be taken advantage but cannot prevent those who would want to and those who do not know how to process information for decision making. If the banks which wrote down asset values are indeed taking advantage of the use of fair value accounting, it is still the transactions between the previous buyer or seller that have caused the reaction which started it and the role of accounting standard is just to reflect them (Meigs and Meigs, 1995). If the requirement to report what is happening is unfair, what will then be fair? Chasan (2008) narrated about some investors expressing their doubts on the effectiveness or fairness of fair value accounting method used especially in the context of evaporating markets caused by the financial crisis. The author however admitted that the use of FAS 157 as an accounting standard was made to improve transparency to investors. Citing big write-downs being made big companies like Citigroup and Merrill Lynch & Co Inc. which has made multibillion-dollar reductions on subprime-related asset-backed securities and other assets described as hard-to-price assets, the issue of whether fair value is still fair has become a controversial question (Chasan, 2008). The argument being asserted is about the volatility of being caused the use of fair value. Rephrased simply, can fair value justify the volatility? Volatility is a term used in business which connotes changes in market prices and which causes risks to investors (Droms, 1990; Helfert, 1994). It is feared that with the desire to create transparency, increased risk from the use of fair value is coming out as a result. To resolve the issue, the previous answer to the question on whether the use of fair value could justify big losses if what is being reflected or reported about company values are still true, would in effect cover the issue of volatility being blamed on the use of fair value. Hence, this paper believes, that fair value which stands for what is true must be upheld as argued earlier. There are concerns that because of volatility caused by the use of fair value accounting, the money makers would just be benefiting hedge funds since they are those to profit from volatility (Chasan 2008). In answer, it could argued that such is the nature of fair value accounting, to allow the market forces to move freely without people being compelled to enter into buying and selling transactions. If there are losers, there are also losers and they are part of the process. It is also argued that those who are complaining about the effects of credits being blamed on the use of fair value accounting are investors or groups of them, who may have been instrumental in pushing for the shift to fair value accounting. One of these groups is called the CFA Centre for Financial Market Integrity, with analysts and portfolio managers composing the group (Chasan 2008). The group and other groups 2007 had their aggressive lobbying to use fair value more in financials. These investor groups could not be only be winners in a market transaction, they could also be losers sometimes; otherwise the market is not operating efficiently. 2. 3 Should there be one universal standard of valuing the assets and obligations of all firms? The issue of whether there should be universal standard for valuing the assets and obligation may be very ideal since when one now talks of universal fair value as a universal standard for example, one will have to consider macroeconomic conditions of the different companies in the world. Since not all nations are similarly situated, at least economically, there is the strong probability that universal value could not be implemented. The question is being propounded to help in setting what is the fair value in accounting like the universality of human rights. However its impracticality will prevent the attainment of the objective. Accounting values are not human rights. Another thing is the difficulty of measuring the risks in business in different countries which are factors in determining the cost of capital of doing business. The difference in risks depends upon many factors including macroeconomic conditions which are affected by political developments. In answer therefore to the question, it will have to plainly say that the vision of universal standard is laudatory and this could be a part of an approximate desire to the internationalization of accounting in many part of the world. There is the plan to harmonize all accounting standards in the world. The FAS 157 definition was actually made part of the plan of IASB which makes IFRS, to adopt the former for the use of those using the IAS or IFRS (Sortur, 2007). In other words, efforts are made to approximate universality of standard in valuing the assets and obligations of all firms but its realization could only possibly become when the time will come for a universal government. 2. 4 Can accounting standards allow for both historical and fair value and still produce meaningful information for decision making? Accounting standards are in effect guides to users to help users make informed decisions in business. Having both historical and fair value must strike the balance of getting to the extreme of having one and disregarding the other. In other words, one needs to know what is historical for comparison to what is fair value or market value to make an informed judgment. Accounting standards must then work for the attainment for the creation of balance between the two values. As to whether the accounting standards can allow for both historical and fair value and still produce meaningful information for decision making, is answered again in the affirmative. This can be tackled better by breaking the given statement into two propositions first and then combine them latter. The first proposition would be declared settled in the fact the accounting standards can allow both historical and fair value together. The second proposition is that the use of both will still produce meaningful information. This first proposition is accomplished since the practice have been done for a long time already since in the case of valuing of inventories, accounting standards allow the valuing them of lower of cost or market under the IAS 2. (Deloitte Touche Tohmatsu, 2008). The fact that inventories can be valued at cost means the historical cost is maintained but requirement of presenting the fair value of inventory if it has gone down in the market is also a part of the standard which in effect allows the working of fair value concept. There are other IAS concepts which allowed fair value accounting and historical value accounting. Thus this section is not much of a problem. The second proposition appears to also to have been fulfilled by the use of IAS as illustrated. More meaningful information is in fact reflected by allowing a combination of fair value and historical cost in the valuation of assets and liabilities of companies. By combining the validation done is confirming the application of two proposition, it could be sufficient to strongly answer the question in the affirmative. 5. Relevancy and Reliability: Is one more important than the other, depending upon the financial user? Both relevancy and reliability are requirements for qualitative characteristics of accounting information. Forcing one to be is more important than the other would be asking the wrong question if the objective is only to determine whether preparing financial information using their fair values is fair. In fact to say that an information must be relevant carries the presupposition that the information must also be reliable. This is on premise that reliability connotes objectivity of information which is very much akin to being truth or fair. Information is relevant or has is relevancy character if it influences one’s decision about a particular issue. On the other hand, reliability deals with the objectivity or accuracy of the information. How could a decision maker consider information as relevant when there is no reliability of the information? On the other hand having reliable information would be of no value if the same is not needed in the decision to be made. The two characteristics must therefore go together. 3. Conclusion The issue of whether fair value accounting or the use of fair in accounting for company assets and liabilities is fair must be answered in the affirmative. What is fair is not what has caused much damaged to a person or entity if such damage was a result of failure to follow the basic rules of making investment. The effect of fair value should not be used to allow one to just justify greed while disregarding the rights of others. A loser under a fair value accounting is comparable to a person who is taking too much risk thus the return could also be high but could be low because of the working of the market. As long as buyers and sellers are not being compelled to complete their transaction, fair value is still fair. Fair value accounting will lead to the truth but its value will also depend on the users of information after they have done their roles in the market. The user will still need to make a comparison with what is historical and what is the current fair value as caused by economic conditions. Present accounting standards have caused the reporting of both kind of information but users must also be intelligent in doing their part. Fair value as a concept in accounting standard was just made to correct the apparent failure of purely historical cost accounting. If fair value accounting is fair, it does not imply that the standard must go back to historical accounting but historical information must still be reported and allow the user to make a difference in how to process the information. Since fair value and historical cost could co-exist together, the same must be the better option as it will provide a balance between historical and fair value accounting. References: Brigham and Houston, Introduction to Financial Management, Thomson-South Western, USA, 2002 Chasan, Emily (2008), Is fair value accounting really fair? {www document} URL, http://www. reuters. com/article/reutersEdge/idUSN1546484120080226, Accessed October 20, 2008 Deloitte Touche Tohmatsu (2008), Summary of IFRS for IAS 2, {www document} URL http://www. iasplus. com/standard/ias02. htm , Accessed October 21, 2008. Droms (1990) Finance and Accounting for Non Financial Managers, Addison-Wesley Publishing Company, England Helfert, Erich (1994), Techniques for Financial Analysis, IRWIN, Sydney, Australia Meigs and Meigs, 1995, Financial Accounting, McGraw-Hill, Inc, London, UK Rees-Mogg (2007), Why FAS 157 strikes dread into bankers, {www document} URL http://www. timesonline. co. uk/tol/comment/columnists/william_rees_mogg/article2852547. ece, Accessed October 21, 2008. Sortur (2007) Fair Value Measurement, The Chartered Accountant {www document} URL, http://icai. org/resource_file/96471564-1574. pdf, Accessed October 21, 2008. ]

Doritos Superbowl Commercial

Jadah Barber Dr. Patricia  Leaf-Prince Section 08 9/10/12 SLAP â€Å"Keep your hands off my mama, keep your hands off my Doritos!!! † This was the phrase that sent millions into a roaring laugh during the 2010 Superbowl Doritos commercial. This commercial says a lot about Doritos, considering the little boy holds them to the standard of his own mother implies that his love for them is just the same as the love he has for his mother. In many was this commercial was effective.One way was showing the little boy picking a fight with someone who is clearly bigger and stronger than him, another was the love the boy had for his Doritos made me feel like I just had to have some just to see if I feel the same way. Lastly the young boys emotion towards the man conveyed a sense of anger and seriousness implying that, at that very moment there was absolutely nothing more serious that a strange man in his house eating his Doritos. The commercial starts and we see an African American male knocking on a door with flowers, an African American female comes to the door and takes the flowers.Here we see they are obviously about to go out on a date. When the little boy is first introduced to the commercial he is seen with a look of anger. He drops his game controller to show the viewer that he is in fact mad about something. The man picks up a Dorito and starts talking to the boy. Here the man is just trying to be nice but the little boy gets mad, slaps the man and tells him to keep his hands off of his mama and his Doritos. The slap was unexpected, humorous and effective all at the sane time.While all of this was going on, the thought that flew through my head was â€Å"what was so good about these Doritos that it made a little boy want to slap a grown man and tell him to keep his hands off? † We see in commercial that the love he has for his mother is the same love he has for his Doritos. We know this because he phrases his words In such a way that he puts his mo ther and his Doritos on the same level. The commercial is implying that Doritos are so good they would make you slap someone if they tried to take any from you at any time.The young boy was mad at the man the whole commercial. From the moment the boy first entered the commercial he was angry for some reason. He never once took his eye off the older man, he wanted to keep staring just to make it a point that he was in fact mad. In the beginning he was mad that this man was coming in to take his mother out but the slap only came in when the man put his hands in the Doritos bowl sitting in the middle of the table. This commercial was effective.It made the viewer feel like â€Å"If the Doritos were that important to him they must be really good. † Every feeling the this commercial was trying to display was felt through the TV screen. A serous moment for a little boy and his Doritos became a hilarious commercial for Superbowl millions of viewers Work Cited for Commercial on Web â €Å"Doritos Superbowl Commercial: Keep your hands off my mama & Doritos. † Commercial. You Tube. 7 Feb. 2010 28 Sept. 2012. <http://www. youtube. com/watch? v=kJDLws_l3Ok>