...Classical Liberalism VS Classical Conservatism Are you Republican or Democrat? Maybe you are Conservative or Liberal? What do these terms mean and how did they begin? Classical Conservatism is defined as “a political philosophy emphasizing the need for the principles of natural law and transcendent moral order.”(Frohnen, Beer, and Nelson, 2006) Classical Liberalism is described as “a philosophy committed to the ideal of limited government and liberty of individuals including freedom of religion, speech, press, assembly, and free markets.” (Hudelson, 1999) These two ideas have shaped our philosophies and parties for centuries to come. These philosophies were made possible by many bright men of the time like Edmund Burke, John Adams, John Locke and Adam Smith. Classical conservatism or traditional conservatism, Burkean conservatism, and Toryism, is a party that has re-expressed their convections to fit the time. (Frohnen, Beer, and Nelson, 2006) In classical conservatism, many parties have adapted their view points. One of the first parties in American that adapted the philosophies of conservatism was the Whigs. The Whigs opposed monarchial power, advocated internal reform of administration, and freedom under the law. They believed in balancing orders in the common wealth and religious toleration. (Kirk, 1953) One person highly recognized for his work in the public sector for conservatism was Edmund Burke. Edmund Burke was born January 12, 1729 in Dublin, Ireland, and...
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...How accurate is it to say that the spread of revolutionary beliefs was the main reason for the fall of the Qing dynasty 1911-12? This essay will be looking at how much of a contribution the spread of revolutionary beliefs in China had in the fall of the Qing Dynasty. In order to determine the importance of this I will therefore also be looking at other factors such as, foreign interference, double tenth and the inability to change. I believe it is partially accurate to say that the spread of revolutionary beliefs was important in the downfall of the Qing Dynasty; however it wasn’t necessarily the most important factor. This can be determined from the effects of Sun Yatsen’s anti-government movement in China. Initially, the extreme need for revolution and reform stemmed from Cixi’s need and desire for conservatism. Her oblivious attitude towards the failure of the government angered many people and essentially gave reformers the ammunition to spread their own beliefs. As previously mentioned, Sun Yatsen was one of the people who felt strongly about changing the way things worked in China. He was particularly open minded and due to his education abroad had adopted a Westernized style of thinking. Thus, Yatsen attempted to modernise and regenerate China by removing foreign control and reasserting their unique character and greatness by forming the revolutionary alliance in 1905. Within this, his greatest belief was that the only way in which China would be able to modernise was...
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...BEHAVIORAL FIANCNE AND WEALTH MANAGEMENT AUTHOR : MICHAEL M. POMPiaN BEHAVIORAL FIANCNE AND WEALTH MANAGEMENT AUTHOR : MICHAEL M. POMPiaN BOOK REVIEW OF : BOOK REVIEW OF : PREPARED BY : ASHISH SHARMA PREPARED BY : ASHISH SHARMA 2014 2014 Behavioral Finance and Wealth Management Author Information “Michael M. Pompian, CFA, CFP, is a partner at Mercer Investment Consulting, a firm serving institutional and private wealth clients. Prior to joining Mercer, he was a wealth management advisor with Merrill Lynch and PNC Private Bank, and served on the investment staff of a family office. Pompian is a Chartered Financial Analyst (CFA), a Certified Financial Planner (CFP), and a Certified Trust Financial Advisor (CTFA). He is also a member of the CFA Institute (formerly AIMR) and the New York Society of Security Analysts (NYSSA). He holds a BS in management from the University of New Hampshire and an MBA in finance from Tulane University. Pompian is a regular speaker on the subject of behavioral finance and has published several articles on the subject. He is married with three sons and can be reached at michael.pompian@mercer.com. “ Michael M. Pompian describes various biases which we can see in human beings , also tells about various experiments on human beings in his book “ BEHAVIOURAL FINANCE AND WEALTH MANAGEMENT “ and tells “HOW TO BUILD OPTIMAL PORTFOLIOS THAT ACCOUNTS FOR INVESTOR BIASES “ The book is published...
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...University 10 February 2014 Of Interpreters, Schools, and Courts: An Analysis of the Postcolonial Themes of Language, Education, and Power in Chinua Achebe’s Things Fall Apart Through his awareness of the European literary tradition of negatively stereotyping the African natives as uncivilized peoples and putting the West in the pedestal in terms of cultural superiority and advancement (Guthrie 51-52), it can be asserted that the renowned African novelist and intellectual Chinua Achebe may had realized, at one point in his life, that in order to have a more realistic portrayal of the dynamics of Western and non-Western contact, there is a need to break such convention which undeniably favours the West. Perhaps, this is the reason why Achebe had written Things Fall Apart in such a way that it provides readers the African point of view of culture, identity and colonization thereby eradicating the dominant and unwarranted perception that the peoples of Africa are mere savages that have no customs, beliefs and traditions. Indeed, by providing a somewhat balanced approach in portraying the dynamic societal changes experienced by the Ibo people due to the conflict between their traditional culture and the foreign culture brought by their English colonizers primarily through religious and educational instruction, Things Fall Apart indubitably qualifies as a relevant and interesting novel that can be analysed through the lens of postcolonial discourse. Since the novel provides...
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...Different countries have different output despite whether the accountant follow a set of rules. This is because, even though accountant follows a set of rules, there are still possibilities that the set of rules does not covers every aspects in detail. This had led to room for professional judgements. It will be based on accountant’s judgement. The differences is not only between countries but it could differ within the country as well especially for Multinational enterprises (MNEs) it could be complicated as it involved different countries. MNEs can be defined as companies who offer products or services internationally. For instance, company XYZ’s headquarter is in Malaysia while its branch is in China. The existence of MNEs can be explained by Dunning’s eclectic paradigm. Firstly because the companies can gain access to assets that will gives them competitive advantages over local firms. Secondly due to the extent to which relative transaction cost make it appropriate for the companies to use such advantages themselves instead of to license or franchise to other firm and lastly, the existence of MNEs because of relevant cost and the government policies that encourage companies to perform production in other countries. MNEs can be classified into three groups: resource-seeking, market-seeking and efficiency-seeking. Resource-seeking is the search of resources in other country. While companies with market-seeking, they tend to establish subsidiaries. Those subsidiaries play...
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...CHAPTER 2 Generally Accepted Accounting Principles Introduction Need of Accounting Principles Generally Accepted Accounting Principles Characteristics of Accounting Principles Objectivity Application Reliability Feasibility Understandability Accounting Concepts Separate Entity Concept Money Measurement Concept Dual Aspect Concept Going Concern Concept Cost Concept Period Accounting Period Concept Periodic Matching of Costs and Revenues Concept Realisation Concept Accounting Conventions Conservatism Consistency Materiality Full Disclosure Your Check Your Understanding Descriptive Questions Interview Questions Accounting for Managers 24 2.1 INTRODUCTION Accounting is the language of business. When we speak in any language, our intention is our ideas are to be understood by others. Language can be understood only when words used by us convey the same meaning to the listener. Both the speaker and listener should mean the same for the words used. Equally, every language has grammar of its own. When we write or speak, we follow the principles of grammar. Similar is the case with accounting. Most of the activities, be it official, social or personal, are guided by a set of certain rules or conventions. Some of the conventions are as follows: ♦ In India, we always drive on the left hand side of the road. ♦ Overtaking the vehicle, either two-wheeler or four-wheeler, is to be made on the right side, alone. ♦ As a citizen of India...
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...Socialism and Capitalism A Theory of Economics, Politics, and Ethics Hans-Hermann Hoppe The Ludwig von Mises Institute’s Studies in Austrian Economics Department of Economics University of Nevada, Las Vegas Kluwer Academic Publishers Boston/Dordrecht/London Distributors for North America: Kluwer Academic Publishers 101 Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Distributors for the UK and Ireland: Kluwer Academic Publishers Falcon House, Queen Square Lancaster LA1 1RN, UNITED KINGDOM Distributors for all other countries: Kluwer Academic Publishers Group Distribution Centre Post Office Box 322 3300 AH Dordrecht, THE NETHERLANDS Library of Congress Cataloging-in-Publication Data Hoppe, Hans-Hermann. A theory of socialism and capitalism : economics, politics, and ethics / by Hans-Hermann Hoppe. p. cm. Includes index. © 2010 by the Ludwig von Mises Institute and published under the Creative Commons Attribution License 3.0. http://creativecommons.org/licenses/by/3.0/ Ludwig von Mises Institute 518 West Magnolia Avenue Auburn, Alabama 36832 mises.org ISBN: 978-1-933550-73-2 Socialism and Capitalism Hans-Hermann Hoppe A Theory of Acknowledgements Three institutions assisted me while I wrote this treatise. As a Heisenberg Scholar I enjoyed the most generous financial support from the German Science Foundation (DFG) from 1982 through 1986. The present study is the most recent work I completed during this period. Additional support came from the...
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...The Institute of Chartered Accountants in Australia GAAP-based financial reporting: measurement of business performance charteredaccountants.com.au Professor Stephen Taylor, The University of New South Wales, Sydney, Australia The Institute of Chartered Accountants in Australia The Institute of Chartered Accountants in Australia (the Institute) is the professional body representing Chartered Accountants in Australia. Our reach extends to more than 53,000 of today and tomorrow’s business leaders, representing some 43,000 Chartered Accountants and 10,000 of Australia’s best accounting graduates who are currently enrolled in our world-class post-graduate program. Our members work in diverse roles across commerce and industry, academia, government, and public practice throughout Australia and in 107 countries around the world. We aim to lead the profession by delivering visionary thought leadership projects, setting the benchmark for the highest ethical, professional and educational standards and enhancing and promoting the Chartered Accountant brand. We also represent the interests of members to government, industry, academia and the general public by actively engaging our membership and local and international bodies on public policy, government legislation and regulatory issues. The Institute can leverage advantages for its members as a founding member of the Global Accounting Alliance (GAA), an international accounting coalition formed by the world’s premier accounting...
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...Absorption: the sharing out of the costs of a cost center amongst the products which use the cost center. Account: a record in a double entry system that is kept for each (or each class) of asset, liability, revenue and expense. Accounting equation: an expression of the equivalence, in total, of assets = liabilities + equity. Accounting period: that time period, typically one year, to which financial statements are related. Accounting policies: the specific accounting bases selected and followed by a business enterprise (e.g. straight line or reducing balance depreciation). Accounting rate of return: a ratio sometimes used in investment appraisal but based on profits not cash flows. Accounting standards: Prescribed methods of accounting by the accounting standards or financial reporting standards regulation body in your jurisdiction. Accruals: (that which has accrued, accumulated, grown) expenses which have been consumed or enjoyed but which have not been paid for at the accounting date. Accruals convention: the convention that revenues and costs are matched with one the other and dealt with in the Profit and Loss (P&L) Account of the period to which they relate irrespective of the period of receipt or payment. Accumulated depreciation: that part of the original cost of a fixed asset which has been regarded as a depreciation expense in successive Profit and Loss (P&L) Accounts: cost less accumulated depreciation = net book value. Acid test: The ratio of current...
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...Reviews Koichi Iwabuchi, Recentering Globalization: Popular Culture and Japanese Transnationalism. Durham and London: Duke University Press, 2002. 275 pp., including references and index. ISBN 0-8223-2891-7. In this book, Koichi Iwabuchi, a Cultural Studies scholar based in Japan, explores intellectual discourses, marketing strategies and audience consumption of Japanese popular culture in a transnational Asian context. In other words, he examines Japan's encounter with a 'modern' Asia by focusing on the diffusion of its commercialized popular culture. This has been made possible by the globalization of media, which itself encouraged an incipient expansion of a hitherto largely domestic-oriented Japanese media production system to other Asian markets. There have been two results from this expansion of mediated popular culture. In the first place, it brings into question the assumed hegemony of American mass culture (from Disney to McDonald's) and shows how, in East and Southeast Asia at least, Japanese contemporary culture is extremely significant – especially in the global cities of Seoul, Shanghai, Taipei, Hong Kong, Singapore and so on. Second, and more troubling so far as Iwabuchi is concerned, Japan's 'return to Asia' from the 1990s, when it began reasserting its Asian identity, contains echoes of World War II colonialism since Japanese tend to regard themselves as 'above' other Asian countries because of their superior technology and production capacity...
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...CHAPTER THREE THE POLITICAL AND LEGAL ENVIRONMENTS FACING BUSINESS OBJECTIVES • To discuss the different goals and functions of political systems • To profile trends in the emergence and diffusion of political systems • To identify the idea of political risk and approaches to managing it • To understand how different political and legal systems affect the conduct of business • To profile trends in the evolution and diffusion of legal systems • To examine the major legal issues facing international business companies • To profile the idea of intellectual property and the basis of concern and controversy Chapter Overview When firms source, produce, and/or market products in foreign countries, they encounter dynamic and challenging political and legal environments. Chapter Three provides a conceptual foundation for the examination of the political and legal dimensions of international business operations. It compares major political regimes, discusses their potential influence upon the development of effective business strategies, and considers the relevance of political risk. The chapter also examines the major types of legal systems that exist today, as well as the strategic and operational concerns they pose. It concludes with a discussion of intellectual property rights and the associated challenges confronted in an age of globalization. Chapter Outline OPENING CASE: CHINA’S BUSINESS ENVIRONMENT [See Map 3.1.] During its thirty years...
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...Compare and contrast essay: Ancient Egypt and Greece The ancient Egyptian and ancient Greek civilizations are two of the oldest known civilizations in our history. The Egyptian civilization, based in the eastern part of North Africa, is believed to have started around 3150 BC and continued till the end of the Pharaoh rule in 31 BC. The ancient Greek civilization is believed to have been in effect from 1100 BC till about 146 BC. Many similarities and differences existed between these two civilizations, as even though they co-existed during a certain timeframe (1150 BC to 146 BC), they were located in different geographical areas. Because of these differences in geography, both these civilizations were subjected to different kinds of exposure, which included contact with other civilization and cultural inheritance. In the political sphere, we find that the Egyptian civilization had stronger emphasis on central authority, while the Greeks had a more decentralized structure, where powers were distributed over the cities and the states as well. As far as art is concerned, we find that the Egyptians were more involved in creating great monumental and gaudy structures, while the Greeks were more involved in creating smaller, more literary pieces of art. One of the biggest reasons why these two civilizations had these differences is due to their geography. The Egyptians had easy access to large stones that they could bring in to their country and use them to erect such monumental...
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...This article was downloaded by: [Library Services City University London] On: 26 July 2013, At: 08:32 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Accounting and Business Research Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/rabr20 International Financial Reporting Standards (IFRS): pros and cons for investors Ray Ball a a University of Chicago Published online: 28 Feb 2012. To cite this article: Ray Ball (2006) International Financial Reporting Standards (IFRS): pros and cons for investors, Accounting and Business Research, 36:sup1, 5-27, DOI: 10.1080/00014788.2006.9730040 To link to this article: http://dx.doi.org/10.1080/00014788.2006.9730040 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and views of the authors, and are not the views of or endorsed by Taylor & Francis. The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information...
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...International Financial Reporting Standards (IFRS): Pros and Cons for Investors by Ray Ball* Sidney Davidson Professor of Accounting Graduate School of Business University of Chicago 5807 S. Woodlawn Ave Chicago, IL 60637 Tel. (773) 834 5941 ray.ball@gsb.uchicago.edu Acknowledgments This paper is based on the PD Leake Lecture delivered on 8 September 2005 at the Institute of Chartered Accountants in England and Wales, which can be accessed at http://www.icaew.co.uk/cbp/index.cfm. It draws extensively on the framework in Ball (1995) and benefited from comments by Steve Zeff. Financial support from the PD Leake Trust and the Graduate School of Business at the University of Chicago is gratefully acknowledged. 1 Abstract Accounting in shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics (driven by reductions in communications and information processing costs) makes increased integration of financial reporting standards and practice almost inevitable. But most market and political forces will remain local for the foreseeable future, so it is unclear how much convergence in actual financial reporting practice will (or should) occur. Furthermore, there is little settled theory or evidence on which to build an assessment of the advantages and disadvantages of uniform accounting rules within a country, let alone internationally. The pros and cons of IFRS therefore are somewhat conjectural, the unbridled enthusiasm...
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...Authors’ name Instructor Name Subject Date Public Administration Public administration is to implement law. In the American system, authority flows from the people to those they vote to govern them. While a legislature passes a law and an executive signs it, the law does not implement itself. That is the task the legislature delegates to the administrator, and it is this chain of authority, flowing from the people through elected institutions to the public administrator, that makes public administration distinctively public. Faithful execution of these laws is the highest calling of public administrators and the core of administrative accountability. The Nature of Knowledge in Public Administration Public administration refers to two distinguishable but intimately related activities: (1) a professional practice (profession, occupation, field of activity), and (2) an academic field which seeks to understand, extend, criticize, and improve that professional practice as well as to train individuals for that practice. The simple meaning of the term is quite direct: it refers on the one hand to the administration or management of matters which have mainly to do with the society, polity, and its subparts which are not fundamentally private, familial, commercial, or characteristic, and on the other hand to the well-organized study of such matters. In this simplest meaning, public administration has to do with supervision the realm of governmental and other...
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