...IB Economics – Internal Assessment Coversheet School Code 1339 | Name of SchoolGuangdong Country Garden School | Candidate name | | Candidate number | 001339-0044 | Economics commentary number | COMMENTARY NUMBER 1 | Title of the article | Northern Ireland's new five-pence carrier bag tax | Source of the article | BBC NEWShttp://www.bbc.co.uk/news/uk-northern-ireland-22047872 | Date the article was published | 08/04/2013 | Date the commentary was written | 29/ 12/2013 | Word count (750 words maximum) | 749 words | Section of the syllabus the article relates to (please tick the one that is most relevant) | * Section 1: Microeconomics * Section 2: Macroeconomics * Section 3: International Economics * Section 4: Development Economics | Commentary Number 1 News Article Northern Ireland's new five-pence carrier bag tax 8 April 2013Last updated at 15:37 GMT The Department of the Environment hopes to see an 80% reduction in bag use. The new levy on plastic carrier bags has come into effect in Northern Ireland. Retailers must now charge shoppers at least five pence for each new single-use carrier bag. The proceeds of the tax will be forwarded to the Department of the Environment. The department hopes to see an 80% reduction in the use of carrier bags as a result of the levy. The tax also applies to bags made from paper, plant-based material, or natural starch. The regulations also allow for a range of exemptions on the grounds of hygiene...
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...force could cross the English Channel at its narrowest point, Calais—which was what the Germans expected—or it could try to surprise the Germans by landing farther west, in Normandy. Since men and landing craft were in limited supply, the Allies could not do both. In fact, they chose to rely on surprise. The German defences in Normandy were too weak to Allies went on to liberate France and win the war. Thirty years earlier, at the beginning of World War I, German generals had to stop the landings, and the What you will learn in this chapter: ➤ How economists model decision making by individuals and firms The importance of implicit as well as explicit costs in decision making The difference between accounting profit and economic profit, and why economic profit is the correct basis for decisions The difference between “either–or” and “how much” decisions The principle of marginal analysis What sunk costs are and why...
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...Tariff, meaning the tax charged on imported goods, is often viewed as necessary means to protect the domestic markets from fierce foreign competitions. As an integral component of protectionism measures, placing tariff to goods produced abroad can exert drastic effects to the market by increasing the price for imported goods, and therefore lowering its supply. In addition to this consequence, the other stakeholders would also either benefit or lose from this type of regulation, since the tradeoff often occurs inevitably as a result of this change in government policies. In this case, as the article states, “The European Union imposed tariffs of as much as 42.1 percent on solar glass from China.” The imposed tariff would adds to price of each unit of the imported solar glass by the amount of tariff, which shifts the supply curve up from S(world) to S(world)+tariff, since the price for solar glass increases drastically from Pw to Pw+tariff The effect of this change is illustrated from the diagram below Because the Chinese solar glass producers do not receive the gains from the price increase due to tariff, and thus European domestic producers can raise their prices with increasing supply in order to compete with the foreign imports. The domestic producers benefits tremendously since they can sell a larger quantity of solar glass at a higher price. The revenue that domestic producer earn increase from 0 to Q2 at world supply price to 0 to Q3 at Pw+tariff. On the other hand...
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...Movie Review We Were Soldiers Burt Thomas Liberty University CRIS303 – B01 Movie Review We Were Soldiers We Were Soldiers is a movie written and directed by Randall White. It is based on a book, We Were Soldiers Once…and Young: Ia Drang, the Battle That Changed the War in Vietnam by Lt. Col. Hal Moore and Joe Galloway. It details the account of both men, as well as the men under Moore’s command during the battle of the Ia Drang Valley. The battle takes place early in the Viet Nam War and the movie provides a historical, as well as dramatic recount of the battle and the lives of the men who fought it. Movie Synopsis A narrator begins the movie by retelling the story of the French involvement in the early days of the Viet Nam War. There is a graphic depiction of violence as the French soldiers are killed, and the viewer is briefly introduced to Lt. Col. Nguyen Huu An. Lt. Col An would later command the North Vietnamese Army (NVA) soldiers during the battle with Moore’s soldiers. Eleven years later, the army is establishing an air cavalry division and Lt. Col. Moore is selected to command them. Mel Gibson, in the role of Lt. Col. Moore enlists the help of Maj. Bruce “Snake” Crandall, played by Greg Kinnear. Crandall’s crew of pilots is made up of a motley group of men and his pilots and equipment are considered to be some of the best in the Army at the time. The division is redesignated as the 7th Cavalry, and Moore notes the irony in its designation - this is the same...
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...Patrick Rogers Compare and Contrast Essay 27 June 2015 The Two books that I have chosen to write about in my compare and contrast essay are “Chickenhawk,” by Robert Mason and “We Were Soldiers Once...and Young: Ia Drang - The Battle That Changed the War in Vietnam,” by BG Harold G. Moore (Ret) and Joseph L. Galloway. These two books focus on the Vietnam War and more importantly the 1st Cavalry Divisions time in the Vietnam war. Both books are autobiographies written from a soldier’s point of view and both offer a unique look at life for different types of soldiers during the Vietnam War during the same period of time (1965) and even during the same Battles (Ia Drang Valley). Chickenhawk, by Mason, is written from the point of view of a huey “slick” pilot in the army’s first use of air assault or airmobile techniques. The book begins with Mason starting his career in the army and his transition through flight school and eventually making his way to the Vietnam War. The majority of the book focuses on his time in Vietnam and the daily life of an Army Huey pilot in the 1st Cav as well as his transfer to the “Blue Stars”, which occurs at the end of his tour. The last few chapters of the book discuss his time after Vietnam. “We Were Soldiers Once...and Young: Ia Drang - The Battle That Changed the War in Vietnam,” by Moore and Galloway is written from the point of view of Moore, an army infantry Lieutenant Colonel and Galloway a combat photographer. Moore was the battalion...
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...Joseph L. Galloway and the Realities of War Corresponding Abstract War corresponding is an essential part of journalism in today’s society. War correspondents risk their lives to report the events of war. It is a very challenging job, and not everyone is cut out for it. One significant war correspondent of the 20th century is Joseph L. Galloway. He spent most of his working career dealing with war, with his most notable achievements being reporting from the front lines of the battle at Landing Zone X-ray in the Ia Drang Valley during the Vietnam War, being a best selling author, and receiving the Bronze Star Medal with Valor for his courage at the aforementioned battle. Joseph L. Galloway and the Realities of War Corresponding War correspondents have been around as long as the journalism career and as long as there have been wars to report. The first war correspondent is said to be Willem van de Velde. In 1653, he took a small boat across the sea to observe a naval battle between the English and the Dutch (War correspondent). War corresponding has come a long way since those days. With every war comes more and more correspondents to cover the news, battles, and outcomes. “War correspondents help the public understand the consequences of government policy, military strategy, and battlefield tactics (Steele, B)”. Without them, the rest of the world would be left in the dark and be unaware of the events of major wars. War correspondents play a crucial yet dangerous...
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...Communist main-force units in the Ia Drang Valley of the Central Highlands. On this morning, Lt. Col. Harold G. Moore's 1st Battalion, 7th Cavalry conducted a heliborne assault into Landing Zone X-Ray near the Chu Pong hills. Around noon, the North Vietnamese 33rd Regiment attacked the U.S. troopers. The fight continued all day and into the night. American soldiers received support from nearby artillery units and tactical air strikes. The next morning, the North Vietnamese 66th Regiment joined the attack against the U.S. unit. The fighting was bitter, but the tactical air strikes and artillery support took their toll on the enemy and enabled the 1st Cavalry troopers to hold on against repeated assaults. At around noon, two reinforcing companies arrived and Colonel Moore put them to good use to assist his beleaguered soldiers. By the third day of the battle, the Americans had gained the upper hand. The three-day battle resulted in 834 North Vietnamese soldiers confirmed killed, and another 1,000 communist casualties were assumed. In a related action during the same battle, 2nd Battalion, 7th Cavalry, was ambushed by North Vietnamese forces as it moved overland to Landing Zone Albany. Of the 500 men in the original column, 150 were killed and only 84 were able to return to immediate duty; Company C suffered 93 percent casualties, half of them deaths. Despite these numbers, senior American officials in Saigon declared the Battle of the Ia Drang Valley a great victory. The...
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...94305-5015, mbarth@stanford.edu. We appreciate helpful comments from Bill Beaver, Utpal Bhattacharya, Ole-Kristian Hope, Karl Lins, Doug Shackelford, Steve Young, Patricia Walters, T.J. Wong, Ray Ball (editor), an anonymous referee, and workshop participants at the Athens University of Economics and Business, Southern Methodist University, the 2005 Pennsylvania State University Accounting Research Conference, the 2005 Joint Journal of Accounting ResearchLondon Business School Conference on International Financial Reporting Standards, the 2006 New York University International Accounting Convergence and Capital Markets Integration Conference; research assistance of Yang Gui, Yaniv Konchitchki, and Christopher Williams; and funding from the Center for Finance and Accounting Research, Kenan-Flagler Business School. International Accounting Standards and Accounting Quality Abstract We examine whether application of International Accounting Standards is associated with higher accounting quality. The application of IAS reflects the combined effects of features of the financial reporting system, including standards, their interpretation, enforcement, and litigation. We find that firms applying IAS from 21 countries generally evidence less earnings management, more timely loss recognition, and more value...
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...from the source of R&D. Thus, R&D help improve business performance. Slide 3How companies in US and the world are investing in R&D? In US, for the year 2014 to come, US companies are expected to spend $ 465 billion into R&D activities; it means 2.7% percent of US GDP. On the Europe side, company like Volkswagen spends $13.5 billion, Novartis spends $9.9 billions. That’s huge amount of money, thus it requires an appropriate accounting treatment for these costs. Slide 4: Both US GAAP and IFRS recognize the importance of appropriate accounting treatment for R&D activities but take a different viewpoint on the method should be used. It’s clear that if future economic benefit gonna flow into the entity as the result of R&D activities. These cost should be classified as asset rather than expense. But whether future economic benefit are certain to flow into entity are impossible to predict. Thus the difference between GAAP and IFRS arise Slide 5: Talk about how US GAAP account for R&D cost. The accounting standard here is ASC 730- Research and development. ASC 730 defines what is research and development. Types of R&D activities falls under scope of standard. The general rules here are, except for some costs related to computer software, all the R&D costs are charged to expenses as it incurred. It means that all those costs must be categorized as expenses and written off to income in the Income...
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...Professor 2006–2012 Tuck School of Business, Dartmouth College Assistant Professor 2000–2006 IV. BIBLIOGRAPHY Refereed Journal Publications “Noise and aggregation of information in large markets,” (joint with Branko Uroˇevi´) forthcoming in the Journal of Financial Markets. sc “Sentiment during recessions,” forthcoming in the Journal of Finance. “Geographic dispersion and stock returns” (joint with Øyvind Norli), forthcoming in the Journal of Financial Economics. “Journalists and the stock market” (joint with Casey Dougal, Joey Engelberg, and Chris Parsons), Review of Financial Studies, 2012, 25(4), 639–679. 1 of 6 “Information sales and strategic trading” (joint with Francesco Sangiorgi), Review of Financial Studies, 2011, 24(9), 3069–3104. “Relative wealth concerns and complementarities in information acquisition” (joint with G¨nter Strobl), Review of Financial Studies, 2011, 24(1), 169–207. u “Information acquisition and mutual funds” (joint with Joel Vanden), Journal of Economic Theory, 2009, 144(5), 1965–1995. “Sports sentiment and stock returns” (joint with Alex Edmans and Øyvind Norli), Journal of Finance, 2007, 62(4), 1967–1998. “Overconfidence and market efficiency...
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...UNIVERSIDADE FEDERAL DO RIO DE JANEIRO INSTITUTO DE ECONOMIA DISSERTAÇÃO DE MESTRADO DETERMINANTES DA INOVAÇÃO AMBIENTAL: UMA ANÁLISE DAS ESTRATÉGIAS DAS FIRMAS DA INDÚSTRIA DE TRANSFORMAÇÃO BRASILEIRA JULIA MELLO DE QUEIROZ RIO DE JANEIRO AGOSTO 2011 UNIVERSIDADE FEDERAL DO RIO DE JANEIRO INSTITUTO DE ECONOMIA DISSERTAÇÃO DE MESTRADO DETERMINANTES DA INOVAÇÃO AMBIENTAL: UMA ANÁLISE DAS ESTRATÉGIAS DAS FIRMAS DA INDÚSTRIA DE TRANSFORMAÇÃO BRASILEIRA JULIA MELLO DE QUEIROZ ORIENTADOR: PROF. CARLOS EDUARDO FRICKMANN YOUNG RIO DE JANEIRO AGOSTO 2011 2 JULIA MELLO DE QUEIROZ DETERMINANTES DA INOVAÇÃO AMBIENTAL: UMA ANÁLISE DAS ESTRATÉGIAS DAS FIRMAS DA INDÚSTRIA DE TRANSFORMAÇÃO BRASILEIRA Dissertação de Mestrado apresentada ao Programa de PósGraduação em Economia, Instituto de Economia da Universidade Federal do Rio de Janeiro como parte dos requisitos necessários à obtenção do titulo de MESTRE em Ciências Econômicas. BANCA EXAMINADORA: ________________________________________________________ Professor Dr. Carlos Eduardo Frickman Young – Orientador ________________________________________________________ Professor Dr. José Eduardo Cassiolato ________________________________________________________ Professora Dra. Maria Cecília J. Lustosa RIO DE JANEIRO AGOSTO 2011 3 DETERMINANTES DA INOVAÇÃO AMBIENTAL: UMA ANÁLISE DAS ESTRATÉGIAS DAS FIRMAS DA INDÚSTRIA DE TRANSFORMAÇÃO BRASILEIRA RESUMO: Diante da natureza dinâmica...
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...ADMS4510 TERM PROJECT Question 4: For a performance obligation that an entity satisfies over time and expects at contract inception to satisfy over a period of time greater than one year, paragraph 86 states that the entity should recognize a liability and a corresponding expense if the performance obligation is onerous. Do you agree with the proposed scope of the onerous test? If not, what alternative scope do you recommend and why? According to paragraph 86 and 87, a performance obligation is onerous if the lowest cost of settling the performance obligation exceeds the amount of the transaction price allocated to that performance obligation. The lowest cost of settling the performance obligation is the lower of a) the costs that relate directly to satisfying the performance obligation by transferring the promised goods and services, and b) the amounts that the entity would be permitted to pay to exit the performance obligation. An entity should initially recognize an onerous performance obligation as a liability and update the measurement of the liability for this onerous performance obligation for changes in circumstances at each reporting date. The onerous test acts as an application of accounting conservatism in revenue recognition, which requires recognizing all probable losses as they are discovered and deferring revenue until it is verified. As providing users with important information by, in effect, remeasuring performance obligations to reflect significant adverse...
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...| | |PROFESSIONAL EXPERIENCE |Credit Program Officer, Millennium Challenge Account-Armenia Program, Foreign Financing Projects Management Center State | | |Institution, Ministry of Finance of the Republic of Armenia, Yerevan, Armenia, February 2012 – current | | |Overall management, oversight and evaluation of implementation of the MCA-Armenia | | |Credit Program (total portfolio 8.5 mln USD), preparation of the reports, memos and other papers on the progress of the Project | | |Review reports, other deliverables and implementation documents developed and submitted by the MCA-Armenia Credit Program | | |implementer | | |Monitoring and analysis of rural financial market development trends, study of the policies for the Rural Financial Market | | |development | | |Consultations and coordination with stakeholders and donors working in the area of rural...
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...especially with other EU countries where we are already present and with the USA. There are no restrictions to the importation or the exportation of capitals and goods. The accounting system follows the International Accounting Standards (IAS), the same adopted by all EU countries, and quite similar to the American’s General Accepted Accounting Principles (GAAP). There is a stable political regime with a multi-party system, which can ensure the certainty of law and the respect of contractual rights. However lawsuits tend to be lasting and expensive, and this could represent a risk in case of a contractual breach. 2) Economic Environment The Italian Economic Environment is also quite good for our project. Italian economy is based on services and industry. The per capita GDP is $30.200, that is not high as in the United States ($44.000), but which is however enough to ensure the population with the possibility to save some of their budget for the acquisition of expensive products. In addition income is better distributed than in the US: looking at the Gini Index, Italy has a 36 and US have a 45 (where 0 means equally distributed and 100 means unequally distributed). If we bear in mind the different dimensions of the two countries all the other economic indicators can be considered similar. Just the Unemployment rate is a little bit higher in Italy, 7% against 4.80%, but it is not very relevant. 3) Cultural and Social Actually Italy has a population of 58.147.733 inhabitants. The...
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...Accounting Horizons Vol. 24, No. 3 2010 pp. 355–394 American Accounting Association DOI: 10.2308/acch.2010.24.3.355 Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I): Conceptual Underpinnings and Economic Analysis Luzi Hail, Christian Leuz, and Peter Wysocki SYNOPSIS: This article is Part I of a two-part series analyzing the economic and policy factors related to the potential adoption of IFRS by the United States. In this part, we develop the conceptual framework for our analysis of potential costs and benefits from IFRS adoption in the United States. Drawing on the academic literature in accounting, finance, and economics, we assess the potential impact of IFRS adoption on the quality and comparability of U.S. reporting practices, the ensuing capital market effects, and the potential costs of switching from U.S. GAAP to IFRS. We also discuss the compatibility of IFRS with the current U.S. regulatory and legal environment, as well as the possible macroeconomic effects of IFRS adoption. Our analysis shows that the decision to adopt IFRS mainly involves a cost-benefit trade-off between ͑1͒ recurring, albeit modest, comparability benefits for investors; ͑2͒ recurring future cost savings that will largely accrue to multinational companies; and ͑3͒ one-time transition costs borne by all firms and the U.S. economy as a whole, including those from adjustments to U.S. institutions. In Part II of the series ͑see Hail et al. 2010͒, we provide an analysis...
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