This is author biographical info, that can be used to tell more about you, your iterests, background and experience. You can change it on Admin > Users > Your Profile > Biographical Info page."
Inferential Statistics and Findings: Generating a Hypothesis
The aim of the paper is to generate a hypothesis with the use of research questions and two variables- dependent variable: sales/revenue and independent variable: interest rates. In addition, the paper uses a statistical technique for testing the hypothesis at 95% confidence interval while interpreting the results. XYZ Corporation is a US-based company that majors in home improvement and construction.
Moreover, the company operates in various big-box format stores across the United States. Nevertheless, XYZ Corporation wants to determine the effects of interest rates and sales on its future profitability, therefore, the company approached a research team that suggested the below research question.
Research question
Is there a relationship between federal (Feds) directed interest rate (ID) and sales /revenue (DV) on future profit of XYZ Corporation?
Hypothesis H0 = XYZ Corporation’s future profits are not determined by interest rates and sales/revenue H1 = XYZ Corporation’s future profits are determined by interest rates and sales/revenue
Hypothesis tests with a 95% confidence level
The veracity of the null hypothesis depends on data as well as the objective of significance tests to estimate the likelihood, hence the P-value, which underscores that the occurrence is an issue of chance. In this case, if the Pearson Correlation is less than 5% it means that the null hypothesis is rejected.
However, if the P-value is greater than 5% then it means the statistical test fails to reject the null hypothesis (Gupta, 2012). Data was indiscriminately selected from 382 observations with respect to interest rates and sales of XYZ Corporation.
Interpretationof the results and findings
Statistical analysis demonstrates that this is a normal distribution, with a mean of 10.97644 and standard deviation of 10.14628 for sales (Table 1). In this case, sales were observed between $0.00 and $89.00. Changes in the federal interest rates could help determine sales of XYZ Corporation.
In addition, the mean and standard deviation for interest rates were observed at 9.695538 and 7.836266 respectively (Table 2). High-interest rates are highly likely to inhibit any profit making from lack of sales. While low-interest rates by the federal government may lead to increased sales.
Again, it demonstrated a 95% confidence interval (sales:1.020716, interest rates: 0.789369) this implies that XYZ Corporation can be about 95 percent confident that sales and interest rates will lead to an increased future a profit. Because the confidence interval of sales corresponds to the value of alpha, which is 1 indicates that there is no significant correlation between sales and future profit of XYZ Corporation.
However, the results are empirically reliable. When it comes to interest rates the confidence interval is less than 1, statistically the test fails to refute the null hypothesis, an aspect that demonstrates statistical significance of the test (Monette, Sullivan & DeJong, 2011).
Gupta, S. K. (2012). The relevance of confidence interval and P-value in inferential. Indian Journal of Pharmacology. Retrieved on June 9, 2016, from statistics http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3271529/
Monette, D. R., Sullivan, T. J., & DeJong, C. R. (2011). Applied Social Research: A Tool for the Human Services (8th ed.). Belmont, CA: Brooks/Cole.
Want help to write your Essay or Assignments? Click here
Depreciation is the allowance given on the wear and tear of property; an income tax is usually set aside for most assets to cater for the cost of assets (Aizenman, Hutchison and Jinjarak, 2013, p.38). The computation is done annually and for depreciation to be done a taxpayer must own the property and make sure that the property is used for business purposes and the property must have a useful life of more than one year.
This is done on tangible assets that lose value such as buildings, machines, vehicles, and equipment. It is also done on intangible property such as copyrights, patents and also computer software. Depreciating starts when the property is put to use for production of income, and it ends when the property fully recovers its cost or can no longer be used to do business (Bhandari, 2014, p. 42).
Property depreciating depends on the method, the property life, the basis of the ownership reduction and also the fact that the taxpayer has listed the property for repayment. Others factors determining depreciating are the first year of depreciation in that some properties don’t qualify for a discount for the first year.
Since dep is a cost, it has to be included in the calculation of the national income. GDP is perceived as the measure of the market good (Bhandari, 2014, p. 42). As such when calculating national income capital depreciation is deducted from GDP. This because it gives us the market value of the property. On the other hand, depreciating is added to national income when computing GDP. In this case, Depreciation is added to the net domestic product as capital consumption allowance to get the gross domestic product. This because depreciation reduces the stock of capital and therefore it must be accounted.
Reference List
Aizenman, J., Hutchison, M. and Jinjarak, Y., 2013. What is the risk of European sovereign debt defaults? Fiscal space, CDS spreads and market pricing of risk. Journal of International Money and Finance, 34, pp.37-59.
A purpose statement is a segment of the introductory portion of a study that summarizes the research’s role and hints on what the research is about and how it achieved the purpose. The purpose statement of the research calls for the introduction of measures to curb gun violence and implement intervention programs where necessary to control gun violence.
The statement includes all the signaling words the research is about, that is, gun violence, gangs and the youth. The statement is clear that the research is qualitative due to the mention of a small sample and qualitative research techniques such as Poisson and logistic regression. The statement is framed in a manner that is consistent with the purpose of the research as it demonstrates intend to achieve a positive hypothesis on the dependent variables. The statement also indicates the following;
Intent
The research intends to expose the influence of gangs and gun violence in various neighborhoods in various parts of the United States on the inception of young boys and girls into gangs. This is so as to encourage invention measures to end gun crime in America, which is currently a major concern.
Participants and Research site
There are a hundred and sixty four participants in the research. However, the purpose statement is not very clear about the sampling techniques used and the ratios between the respondent categories. The statement also mentions the research site to be in middle schools in South East Lost Angeles, California.
Variables used
The use of the sample data in the research as well the regression models provides a pre-emptive analysis of the cases in Los Angeles. The distribution of the sample is ample to provide a proper representation of the entire scope of research. However, the use of a sample of predominantly Hispanic boys and girls is imminently circumstantial. This presents a significant challenge to the research since communities in Black, Native American and Asian-American communities may present different findings.
Theory Identified
The research demonstrates the confirmation of the Social Cognitive theory by Holt and Chapman. The theory can be summarized as follows ‘portions of a person’s knowledge can be acquired by directly observing the actions of other people and learning from them.’ Communal issues such as neighborhood gang presence, gun presence and cases of gang violence often affect the psychological response of children to gang violence (Decker, van Gemert & Pyrooz, 2009). In some cases, the perception of these issues can discourage these children from aggressive practices while in other cases; it can encourage them to join gangs where they feel like it is the only way to survive such neighborhoods.
Other factors such as level of education, nature of neighborhoods and existing legislation are important aspects of this research that need to be included as well (Klein, 2007). It is necessary to also ensure that the sample distributes aspects of distribution such as age groups, family income and cognitive factors in the children. These issues present a clearer picture in researches (Wolverton, 2009).
Data collection techniques
The interviews were used for qualitative data while the questionnaires presented a survey sample for the quantitative data.
Conclusion
The purpose statement of the research by Forster, Grigsby, Unger & Sussman (2015) demonstrates that mixed methods are used in the research. The statement presents an aspect of quantitative analysis in the number of households with cases of violence as well as views from different households; all Hispanic. Research on impact analysis and correlative data needs to be very accurate and particular.
However, there should be quantifiable and qualified data for use in research that seeks to encourage policy changes and the adoption of new measures to change an endemic issue (Grantham, 2009). The research by Forster, Grigsby, Unger & Sussman (2015) does present relevant information on gang violence. However, this data is not sufficient to encourage policy change.
References
Decker, S. H., van Gemert, F., & Pyrooz, D. C. (2009). Gangs, migration, and crime: The changing landscape in europe and the USA. Journal of International Migration and Integration, 10(4), 393-408.
Forster, M., Grigsby, T. J., Unger, J. B., & Sussman, S. (2015). Associations between gun violence exposure, gang associations, and youth aggression: Implications for prevention and intervention programs. Journal of Criminology, doi:http://dx.doi.org/10.11
Chronic Venous Insufficiency (CVI) arises due to incompetence of vascular walls as well as valves of the veins. This disorder leads reduction in blood flow to the heart resulting in pooling of blood or stasis in the extremities especially the lower limbs. Patients with CVI usually complain of pain and swelling in the limbs.
Conversely, deep venous thrombosis (DVT) arises when clotting occurs in the deep veins in the lower limbs (Patel & Brenner, 2013). Patients suffering from DVT usually complain of pain as welling as swelling just as those with CVI. The presentation of these conditions is almost similar. It is for this reason that health care providers take extra caution when diagnosis CVI and DVT.
The Pathophysiological Presentation of DVT and Chronic Venous Insufficiency
The key pathophysiological difference between CVI and DVT is that DVT occurs in deep veins whereas CVI occurs majorly in superficial veins. Chronic Venous Insufficiency affects popliteal, femoral, and peroneal veins while DVT mail affects the soleal vein. Chronic Venous Insufficiency arises as a result of damage of the endothelial walls and valves in the veins (Eberhardt & Raffetto, 2014).
Some of the common causes of CVI include pelvic tumors, DVI, and vascular malformations. The valves of patients suffering from CVI are incompetent in that they cannot hold blood back against the force of gravity. Consequently, blood pools in the lower extremities leading to swelling especially in the ankles and the legs. Moreover, individuals with CVI present with venous stasis ulcers, varicose veins, pain the feet, and itching and flaking of the skin.
On the other hand, DVT develops due to clotting in the veins. Severe clinical complications occur when the formed clots lyse and get into the general circulation. Blood from deep veins usually flows into the lungs. Therefore, when this blood carries clots with it, it may lodge them in the lungs causing pulmonary embolism, one of the most severe result of DVT (Goldhaber & Bounameaux, 2012).
Often CVI presents with dermatitis and ulceration due to the structural difference between the deep veins and superficial veins. That is, the superficial veins have an adipose layer and a connective tissue whereas the deep veins have a fascia and muscles. This gives deep veins more protection and structural support.
Venous and arterial thrombosis have a number of similarities although they differ in terms of their pathophysiology, clinical interventions, and epidemiology. Venous thrombosis occurs in undamaged parts of venous walls and in areas that have low sheer pressure. This disorder leads to formation of red thrombi. Conversely, arterial thrombosis occurs in parts that have high sheer stress and are rich in plaques. Unlike, venous thrombosis, arterial thrombosis forms white thrombi.
Patient Behavior
The predisposition and pathophysiological advancement of DVT and Chronic Venous Insufficiency relies heavily on the lifestyle of an individual. The pathophysiology of DVT and CVI is enhanced when a person engages in activities that enhance the metabolic syndrome. Some of the most notable practices that have been cited to predispose individuals to CVI and DVT include lack of physical exercises, smoking, intake of meals rich in cholesterol, and psychosocial behavior (Csordas & Bernhard, 2013).
Smoking affects the circulation of blood and enhances blood clotting. On the other hand, inactivity such as sitting for long periods causes calf muscles to contract hence inhibiting proper circulation of blood. Lack of activity may also result in increase of weight which then increases pressure in veins especially in the legs and the pelvis.
When diagnosing of CVI and DVT based on behavior, a physician should enquire the social history of the patient. For instance, s/he can ask the patient whether s/he smokes or has ever smoked. If the patient smokes, he should enquire when the patient started smoking and how many sticks he smokes in a day. Questions on whether the patient engages in physical exercises such as jogging or long distance travelling are also essential in finding a differential diagnosis.
Clinical interventions for these patients involves the use of pharmacological as well as non-pharmacological approaches. If the patient smokes, a physician should assess the willingness of the patient to quit smoking. If s/he is willing to make a quit attempt, a brief counselling session should be introduced, medications such as bupropion will be offered as well as self-help resources. Follow-up visits should also be scheduled. The patient should also be advised to engage in physical exercises such as jogging. The patient should also limit his/her intake of cholesterol, leading factor in DVT development.
References
Berkman, L. F., Kawachi, I., & Glymour, M. M. (Eds.). (2014). Social epidemiology. Oxford University Press.
Csordas, A., & Bernhard, D. (2013). The biology behind the atherothrombotic effects of cigarette smoke. Nature Reviews Cardiology, 10(4), 219-230.
Eberhardt, R. T., & Raffetto, J. D. (2014). Chronic venous insufficiency.Circulation, 130(4), 333-346.
Goldhaber, S. Z., & Bounameaux, H. (2012). Pulmonary embolism and deep vein thrombosis. The Lancet, 379(9828), 1835-1846.
Patel, K., & Brenner, B. (2013). Deep venous thrombosis. Medscape reference.
Want help to write your Essay or Assignments? Click here
Child development is the theory and practice of procedures to ensure that the child is given the proper resources, guidance and nutrition to see them through their infancy up to middle school. Child development can also be the biological, social and psychological change in a child as they grow. However, it is supported by the various efforts and developmental models chosen and taken by their parents and guardians.
Indeed, the development of a child involves aspects such as pedagogical development and the development of the various biological systems in the body. The whole process is geared towards achieving total autonomy in the child. Children are exposed to many issues at an infant age. The most challenging of these issues is the introduction of new diet.
Children often have to begin feeding on supplementary diet that is different from mammary milk after they attain the age of twelve months. Child development policies and strategies ensure that these steps and stages in the development of the child are done incrementally and professionally to achieve desired impact (Bevans, Riley & Forrest, 2010).
Background on child development
Child development has been a source of scientific and medical research over the last few decades. Policies in child development often relate to the ability of the parent to help them achieve autonomy. However, with regard to theories in child development, the concern has often been about the emotional and physical relationship of the child and the mother.
Many studies have been done on issues in child development. They have since resulted in aspects of child treatment, immunization and even nutrition. The most significant theories in child development are the Developmental theories and the attachment theories (Warner, 2007). It is necessary however to realize that although most of the theories on child development have hardly been refuted, they have not been unanimously approved as well.
Child development is often the cause of controversy in many policy development forums. There are particular goals that need to be achieved in child development but many different approaches to achieve these theories.
Where child development in a biological context is concerned, the physical change in the body of a child as they move from childhood to puberty is often a marvel in scientific research. Many children often realize a particular affinity for certain objects, games and pleasantries as they grow. However, there is likely that a child’s growth potential is achieved by the time they reach puberty (Bevans, Riley & Forrest, 2010).
Children however do not easily learn the psychomotor skills on their own. The exposure the child gets as they grow often determines how well they grow with regard to psychological and emotional development. There is indeed a direct relationship between the child’s environment and their eventual personality traits. More so, the adaptability of the child at the infancy stage is higher than at any other stages in their development. This is why child development theory and practice takes center stage among many pediatric research and education practices (Capel, 2012).
Child development however exceeds past growth. For instance, when a child grows, organs do not just grow, they are specialized. The same is the case for the various body cells and senses. They become bigger (grow) and better at their functions (develop). Child development theories thus take all these issues into account. However, with regard to the aspects and determining factors in child development; it is often the case that cases of child development complications are often treatable.
Medical research asserts that since the mind of the child keeps changing and growing, it is often the case that children may outgrow behavioral and psychological issues. There is however contention on the possibility of child brain research towards the treatment of regressive growth involving limbs and other bodily organs with a rich nervous system (O’Connor & McCartney, 2007).
Child Development Theories
Child development theories assess the growth and development of the child; the mitigating factors and the various aspects of the growth. Theories try and explain why phenomena such as development of limbs, ability to walk, talk and read as well as the growth of the intuition in a child occurs as it does. The major categories children are classified into often include; newborns, infants, toddlers, preschoolers, school-aged children and adolescents. These different categories of children often exhibit different traits.
This is why models are often specific to the category and explain how growth takes place from one category to the next. There are various theories formulated towards contributing to child development policies. However, this paper will discuss two main theories; child development theories and child attachment theories. These theories help scientists assess various growth factors and inhibitors to proper development of the child (Rigby, 2007).
Child development theories assess and explain the factors behind a child’s development. The most common of these theories is the ecological systems theory. The ecological systems theory was first proposed by Urie Bronfenbrenner. He proposed four categories for child biological development. These include; microsystem, mesosystem, exosystem and macrosystem. The microsystem of the child is the nervous and cardio vascular system. The mesosystem defines the muscular system in the body.
The exosystem defines the skin organ of the body and all systems that interact with the external environment while the macrosystem defines the organ system in the body. A child’s development is expected to take place simultaneously in all these four stages. The theory also proposes that each of these subsystems contains particular norms and principles that guarantee development in a symbiotic manner. The relationship between the systems defines how well or retarded growth in a child is.
The child attachment theory defines the psychological, evolutionary and ethological development of a child. The theory asserts that interpersonal relationships between human beings are based on the development and proliferation of psychological needs. These needs stem from the child’s emotional upbringing and contact with the environment they live in. It is thus a concern that needs to be addressed by care givers.
The child’s evolutionary needs have to do with the child’s nutrition and socialization. Aspects such as early schooling, introduction to sporting activities and involvement in household chores contribute greatly to child development. It is thus critical to achieve these early. However, ethological (behavioral) growth in a child is cultured from the observations the children make on their own. This is why the environment one raises a child in must be protected from unnecessary exposure.
Early Childhood Education Theories
Early childhood education theories discuss the development of the child as they progress through school from introduction to later stages in school. For instance; the Development Integration Approach in child development discusses child development on aspects such as; physical, social, emotional, language and cognitive skills. Physical development is assessed through measures such as the body mass index (BMI) that evaluates the mass against the height of the child.
Social and emotional development skills are the skills the child acquires from interacting with other children and adults. Language can be considered in two aspects; the first language the child was exposed to; known as L1 and the other languages follow as L2, L3…However, language can also be the ability of the child to learn etiquette, euphemism and other necessary language skills at an early age.
Cognition in a child is the most observable change. Abilities such as reading, learning and concentrating however take time to develop in a child. The ability to use language properly is very important to the child’s growth as it makes them able to communicate (Warner, 2007).
The other common theory in early childhood education is the socio-cultural learning theory. This theory asserts that the impact of the child’s social experiences as well as their cultural disposition affects their individual thinking and the development of their mental processes. This is why it is important to raise children in environments that elicit such growth potential.
All the same, whatever environment the child finds themselves in is able to affect their mental and psychological health either positively or negatively. The theory by Lev Vygotsky proposes that cognition should be trained by the child’s care givers since it occurs on a social context. Allowing children to play and undertake certain responsibilities early prepares them for such responsibilities in the future (O’Connor & McCartney, 2007).
For instance, early driving classes make the child develop an intuitive sense that helps them discern the path to take while on the road and the decisions that can help them avoid accidents and dangerous driving. Socio-cultural learning also presents the argument that a child born in cultural practices will likely learn them and embrace them early if they are exposed to them from the onset.
Conclusion
Early childhood development is a phenomenon that has been observed by scientists across the world for centuries. Indeed, aspects of child development such as the development of psychomotor skills, cognitive development and physical development often relate to the child’s culturalization.
Most care givers are advised to monitor the path through which the child takes in their development actualization pattern in order to grow into the anticipated adults society envisions. However, there are biological factors in child development and growth that do not really have anything to do with the care givers but actual parents. Genetic factors are often difficult to deal with as they are as the result of recessive genes since childhood.
In such cases that these recessive genes lead to visible impaired limbs, it is necessary to seek medical attention to know how to handle these cases (Ogunnaike, 2015). Children should always be brought up in environments where they feel safe and able to interact freely with all persons in their vicinity. Since most of what they learn is acquired from vision, it is important to invest on the child’s environment and control it as much as possible without interfering with it.
Capel, C. M. (2012). Mindlessness/mindfulness, classroom practices and quality of early childhood education. The International Journal of Quality & Reliability Management, 29(6), 666-680.
Rigby, E. (2007). Same policy area, different politics: How characteristics of policy tools alter the determinants of early childhood education policy. Policy Studies Journal, 35(4), 653-669.
O’Connor, E., & McCartney, K. (2007). Examining teacher-child relationships and achievement as part of an ecological model of development. American Educational Research Journal, 44(2), 340-369.
Ogunnaike, Y. A. (2015). Early Childhood Education and Human Factor: Connecting Theories and Perspectives. Review Of Human Factor Studies, 21(1), 9-26.
Warner, M. E. (2007). Child care and economic development: Markets, households and public policy.International Journal of Economic Development, 9(3), 111-121.
Want help to write your Essay or Assignments? Click here
Politics of respectability or respectability politics refers to attempts by members of marginalised communities to police their own members and at the same time show that certain aspects of their life, especially the social ones are compatible and continuous with the other mainstream values. Respectability politics takes its root in shaping marginalised communities instead of challenging the mainstream groups for it numerous failures and accepting the difference between the parties (Harris, 2012).
The black community stands out as one of the marginalised communities in the United States and more likely feels the effects of respectability politics. On the other hand inter-sectionality refers to individuals face multiple threats of discrimination based on several different grounds (Smith, 2014). Politics of respectability is practised as a way of attempting to undermine the moral and cultural practices of a given ethnic group President Obama clearly stands out as one of the parties criticised for continuously using respectability politics throughout the entire period as president of the United States (Harris, 2012).
This paper largely focuses on respectability of the society using the black community as an example Intersectionality and politics of respectability are two concepts that address the plight of minority communities and make them equal to other societal members if used in the right manner.
Politics of Respectability and Intersectionability
According to Harris (2014), respectability of politics has become one of the fundamental methods that is used to address the ills of the society. It was founded by members of the society to act as a guide. Harris (2014) illustrates and identifies the specific parties that formulated or coined the term respectability politics among the black community. The black elite came up with the term to guide the social actions of members of their society. However some parties go against the set of procedures and become aggrieved once they are chased out of the school setting.
A good example is in the case of the young girl who was sent away from school for allegedly going against the set rules (Harris, 2012). The young girl named Tiana Parker came to school with deadlocks something that was not allowed in the school setting (Harris, 2012). The black elite community set the rules to upgrade their community but such teachings were advocated by most members of the society. They never saw the benefits of such rules in their lives.
Intersectionability seeks to understand why the black community is opposed to such rules that were meant to improve their lives. It holds that the classical cases of oppression within a society never act alone. Rather they act together while being interlinked to one another. For example. In most cases, racism would occur with other ills in the society. Some of these other ills would be bigotry, xenophobia, classism and sexism (Harris, 2014). All of these aspects are interlinked in one way or another.
The public outcry witnesses in the case of Tiana Parker did not seek to understand the current problem at hand which is violation of the school rules (Harris, 2012). The society felt that since white children are able to go to school having different types of hair styles and they are never expelled the same rules should be applied to children coming from the white community (Smith, 2014). This in essence shows the type of society that the above parties live in.
Intersectionability has been used to weaken the position of politics of respectability A good example is provided in the case of the Republican party in the United States which has always been opposed to any changes to alleviate the social and economic position of the black community. Most of the Supreme Court cases in the United States have gone against issues such as affirmative action in the process hindering the change that is much desired in the society (White, 2010).
The Republican Party has also gone forth to vote against the Obama’s accomplishment such as the Affordable Care Act that ensures that there is equality in the health standards among all individuals in the society (Harris, 2014). All individuals against politics of respectability are sometimes directly linked to being individuals who promote tendencies outlined in intersectionability. Sometimes President Obama has been against issues involving politics respectability (White, 2010).
On some occasions the president has been equally quiet on issues affecting the black community and as a result the people from this ethnic group have not felt as if their issue are being addressed by the current president (Smith, 2014). More focus has been provided in addressing issues that deal with the whole society. At the end of the day, solving societal issues without addressing issues such as racism and ethnicity does not assist the nation as a whole. Instead, it tears into the national fabric that makes the same nation (Harris, 2014).
Neglecting politics of respectability fails to address important problems that face the society. Such problems include the economic position of the working class of the black people. President Obama has also been on the trail stating that the black people are solely responsible for some of the misfortunes that have affected them and their societies. More importantly the president stated that the black people have stalled their own progress. This has become much more of a custom if not a ritual for the president of the United States (Harris, 2014).
Obama stated that during the fifty years that the black community was in war, some of its members had the wrong objectives. Some of them still complain of police brutality and how they have been neglected by the society. The same problems that they fought for close to fifty years are still being described. When such terms are used or utilised in the society they reduce the pleas of one community or ethnic group as being normal complaint (White, 2010).
However, the truth of the matter is quite different as different individuals from the Black community may be suffering from the said effects (Harris, 2014). The elite class in the black community has attempted to change their thinking but all has not worked. The best approach is to directly influence the black people so that they have people who can look and learn from in the society. Such example are the likes of Michael Johnson whose life serves to change the life of the people from the black community (Harris, 2014). People who have succeeded in life are better placed in assisting the society to attain its goals in the long run.
Evelyn Brooks Higginbotham remains one of the few authors who properly brought out issues facing women in the society through advocating for practices that fall under respectability politics. In the earlier centuries women were rarely treated as equals in the society (Watts, 1994). They were subjected to all form of discrimination in the society by those in charge of all roles. However Evelyn Brooks Higginbotham found a way in which women could be empowered (Smith, 2014).
More specifically, Evelyn Brooks Higginbotham utilised the church to bring out issues that faced women between 1880 and 1920 (Watts, 1994). Women were largely engaged as the members of the church their participation ranged from organising for fundraisers to promoting education and development in the society. The church in itself was doing well because of women in the society.
In other words, the women can be stated as the original founder members of the church (White, 2010). Thus most black women never viewed the church as the only place where they could seek religious interventions but also one of the places where they could offer a forum to challenge intersectionability issues such as race, gender and class which tore the society into different fronts (Watts, 1994).
Black women became the centre for attraction for the Baptist church, a role that had been originally designed to belong to the male members of the society. Their involvement in most of the activities of the church and the society were aimed at ensuring that they could help their race instead of waiting for their race to come and help those (Watts, 1994). This was one of the basic fundamental teachings that most people from the black community came to believe.
Soon enough they were divided into small groups that placed more emphasis on the development of the society rather than focusing on individuals (Watts, 1994). A good example of such a group was the famously known Female Talented Group which comprised of educated girls within the society who placed emphasis on the educating members of the society and more so those of the black ethnic community in society who were missing out on education (Smith, 2014).
The women also established convections schools where they articulated all manner of issues such as racism and classism in the society and taught children on how to avoid the current ills noted in the present society (Watts, 1994). The Northern Baptist women were also able to work with the Southern Baptist women in the creation of a new alliance that had never been in existence. The new alliance sought to inspire the society to become better members.
Higginbotham’s work majorly focuses on the many activities different women across the divide put forth in ensuring aspects relating to the society were well advocated for irrespective of their individual ethnic or racial background. This in essence helped most member o f the black community.
Conclusion
Respectability politics is a term coined to show how different members of the society can come together and improve the society regardless of all the stumbling blocks that may appear on their way. It focuses on how the society can become better by improving the status of the marginalised communities. However, not all individuals have the same believes in such system and as a result there is creation of another aspect termed as intersectionability which exists immediately a society fails to recognise the importance of respectability politics
Harris, F. C. (2014). The rise of respectability politics. Dissent, 61(1), 33-37.
Smith, M. (2014). Affect and respectability politics. Theory & Event, 17(3).
Watts, J. (1994). Righteous Discontent: The Women’s Movement in the Black Baptist Church, 1880–1920. By Evelyn Brooks Higginbotham.(Cambridge: Harvard University Press,1993. xiv, 306 pp. $34.95, ISBN 0-674-76977-5.). The Journal of American History, 81(1), 295-295.
White, E. F. (2010). Dark continent of our bodies: Black feminism & politics of respectability. Temple University Press.
Want help to write your Essay or Assignments? Click here
Culture responsive leadership is essential in every institution as it responds and acknowledges the need for equitable access to education for people of all kinds as well as shaping people’s thinking process. Culture responsiveness would entail strategies to incorporate and improve links between equity and access to education between linguistically diverse communities (Toppel, 2015).
Cultural competence should be intertwined with responsiveness as it enhances better integration of skills, values, attitudes, and knowledge to ensure effective interventions with people from diverse cultures. Culture responsiveness is crucial in empowering students politically, socially, intellectually and emotionally by using of referents of culture to impart skills and knowledge.
Culture responsive leadership is essential in influencing various factors such as equity, outcomes and opportunity in a given educational setting. Culture responsive leadership involves philosophies, policies, and practices that inclusively create better learning environments for populations of culturally and ethnically diverse backgrounds (Toppel, 2015). The creation of a culture responsive relationship by the leaders is vital as it helps them make concerted efforts to identify more about the culture and interests of those under them especially students in an education setting.
I had the privilege to interview two people who gave more insight into the issue of culture-responsive leadership. The interview seeks to identify some of the practices adopted by the leaders in enhancing that the policies they use are culture responsive. My first interviewee is a male leader in a university. The interviewee serves in the leadership capacity as a dean of the university who is in charge of the student’s affairs.
He also has the role of overseeing the formulation and implementation of policies that promote culture responsive teaching in the learning institution (McCray et al, 2011). The dean is also responsible for the coordinated planning of the right curriculum to ensure full culture responsiveness.
The second person I interviewed is the chancellor of the University who also doubles up as an organizing secretary of the education board of various private and public universities. She performs both the leadership and managerial roles in all programs started to enhance culture responsive education at the university level. She ensures that the structures are properly made, and procedures followed as well as receiving progress reports from leaders in lower levels such as the university dean. Both leaders adequately provided the required information regarding culturally responsive leadership practices.
The following questions were used to interview both interviewees who work in a similar capacity as their main role is the promotion of policies and practices that enhance cultural responsiveness through their competence.
1. What do you understand by cultural responsiveness and competencies required in ensuring equality and access to education services?
2. How does the institution promote and advocate for right policies and practices to ensure efforts of enhancing cultural responsiveness are successful?
3. What are the criteria for evaluating and effective assessment of the policies implementation, and success of adopted practices?
4. What culture responsive teaching methods have you adopted and are most efficient in leading to the desired results in an education setting?
5. Which theory of culturally responsive leadership guide you in ensuring full competency while performing your roles in an education environment?
6. What are the benefits of culture responsiveness and the main challenges experienced during implementation of policies and practices?
The first interviewee who is the Dean of students in the university gave various responses in regards to the questions posed for him during the interview. The Dean of students understands cultural responsiveness as the pedagogy that focuses on empowering the students in various forms mostly emotionally and intellectually (McCray et al, 2011). Competencies entail the adherence and the effective adoption of the right procedures and practices.
According to the dean, competency of a leader has the greatest impact in influencing culture responsiveness in an educational setting. As a leader, the dean has adopted various practices in the curriculum to enhance cultural responsiveness. Establishing inclusion is one of the practices enhanced by the dean.
Such practices are made possible through structures such as cooperative base groups and learning communities while also using procedures such as multidimensional sharing, cooperative learning and collaborative approaches to learning (Santamaria & Lorri, 2013). The use of practices such as experimental learning approaches based on the theory of multiple intelligence to develop the positive attitude is a vital practice aimed at ensuring cultural competence.
The Dean has also ensured policies related to the integration of the culturally responsive curriculum are properly implemented with the objective of access to education to all. Narrative evaluations including responses and measure of satisfaction levels among students are the basis of assessment. Responses by students and other stakeholder involved in cultural competence processes determines the level of equity and access to education to diverse communities which are the outcomes.
The teaching method advocated by the leader include culturally mediated instructions, improved curriculum, and communication of high expectation (Santamaria & Lorri, 2013). The institution advocates for policies and practices for culture responsiveness through various ways such as enhancing a collaborative environment where all work together to result in desired outcomes.
Instilling various norms, beliefs, and values into the school system is also ways of promoting and advocating practices. Having a culture of inquiry when it comes to implementation of responsive culture practices. Due to values, norms and procedures set in the institutions, the dean would adopt ethical leadership to develop critical consciousness among students.
Some strength of the practices adopted includes more integrated education system that can be sustained for the long and efficient address of inequalities issues (Santamaria & Lorri, 2013). Another strength of the practices is the preparation of a student-centered and inclusive curriculum as well as competent participation in the intercultural community. Weakness includes the poor adherence and failure to implement policies effectively due to poor leadership skills amongst some of those overseeing the processes. Cultural destructiveness and cultural incapacity are also weaknesses that hinder success of the practices adopted.
The second interviewee also offered a lot of information regarding the questions about culture responsiveness. She understands culture responsiveness to entail strategies to incorporate and improve links between equity and access to education between linguistically diverse communities. Culture responsive leadership is essential in influencing factors such as equity, outcomes and opportunity in a given educational setting (Brown et al, 2011).
She also believed that universities are doing a lot to advocate for policies and practices for cultural responsiveness. Some of the measures used to advocate the policies include the development of an understanding of transformative, additive and application of social action models. Creation of organization structures in learning institutions to empower both parents and students and from diverse communities and ethnic backgrounds are measures used to support practices and implementation of policies.
Some of the leadership competencies by the chancellor include promoting inclusive instructional practices, the exhibition of an ethic of care emphasizing on high expectations on students when it comes to academic achievement. Since cultural competencies are focused on the classroom teaching mostly, some of the teaching methods the leader advocates for include learning with the culture context and positive perspective methods (Brown et al, 2011).
She believes that responses by students and the increased levels of integration of culture responsiveness in the education system as well-reduced levels of inequalities are essential in assessment and evaluation of policies and practices’ effectiveness.
The chancellor is also guided by the leadership for the social justice theory which focuses on improvement of educational outcomes and experiences for all students especially the marginalized. Social justice theory also responds to issues of race, culture, ethnicity and language (Brown et al, 2011). According to her, some strengths include the creation of frameworks and structures that are consistent with orientation of culture for ethnically diverse populations.
In this case, the education sector would face fewer challenges relating to cultural responsiveness. Weaknesses include poor implementation strategies and poor collaboration between some leaders and the people which make practices to be ineffective in addressing the problems (Santamaria & Lorri, 2013).
There is evidence that both interviewees have worked hard to ensure their leadership practices are culturally responsive. The first interviewee demonstrates leadership skills by fostering relationships based on responsibility, respect, and care through strategies to enhance critical consciousness among students. Using procedures such as multidimensional sharing, cooperative learning and collaborative approaches to learning are also essential culture responsive leadership practices by the dean.
Some recommendation for him includes the need to incorporate social justice and intertwine it with ethical leadership so as to lead to better integration of evidence-based practices (Toppel, 2015). I would also recommend that he adopts structures that empower people as they are essential in supplementing effective practices.
The second interviewee also has leadership practices that are evidence of cultural competence. Promoting inclusive instructional practices, an exhibition of an ethic of care emphasizing high expectations practices on students when it comes to academic achievement are culturally responsive practices (Toppel, 2015). She also focuses on practices pedagogical practices and curriculum frameworks consistent with cultural orientation.
My recommendation for her is to incorporate other theories in her leadership practices and also learn about people’s past experiences so as to identify the best strategies to handle issues. There are various ways I would address the needs of culturally responsive education e.g. through acknowledging arising differences, validating cultural identity before adopting any cultural competencies (McCray et al, 2011).
My efforts would entail affirming attitude towards people from diverse backgrounds. Incorporating constructiveness learning skills as well as social consciousness would be essential and included in my practices. I would work as a leader to enhance a holistic approach to the effective creation of plans, teaching activities and also identification of assessment methods that identify weaknesses for the quick remedy. In a nutshell, adoption of right strategies enhances the effectiveness of culturally responsive practices.
References
Brown, Kathleen M., Jen Benkovitz, A. J. Muttillo, and Thad Urban. 2011. Leading schools of excellence and equity: Documenting effective strategies in closing achievement gaps. Teachers College Record 113.1: 57–96.
Santamaria, Lorri J. 2013. Critical change for the greater good: Multicultural perceptions in educational leadership toward social justice and equity. Educational Administration Quarterly.
Toppel, K. (2015). Enhancing Core Reading Programs With Culturally Responsive Practices. Reading Teacher, 68(7), 552-559.
Want help to write your Essay or Assignments? Click here
A couple of Information technology experts would consent that cloud computing is the most convenient and most dynamic model of message delivery since the birth of internet. Cloud computing has been used by corporate managers and decision makers to help them achieve several financial advantages and protect them from any security threats that could result to tainting of their reputable image and even the longevity of the business itself (Pereira, 2014). In itself, cloud computing is cost-effective and an efficient option to purchasing and sustaining hardware and software in-house. This has been the case since the introduction of Amazon’s S3 (Simple Storage Services) and EC2 (Elastic Compute cloud).
Cloud computing has had various definitions, having different service providers and the available standard organizations giving different definitions of the same. For instance, the National Institute of standards and Technology (NIST) defines cloud computing as “a model for that enables the ubiquitous, convenient, on-demand network access to a pool of shared configurable computing services that can be speedily provisioned and released with minimal management effort. What cloud computing does, is to avail platforms, software, and infrastructure in form of web services using the internet. However the consumers do not know the specific physical location where these services are provided from. They therefore purchase the software and hardware as services rather than physical assets (Pereira, 2014).
Cloud computing is categorized into various classifications. Software, platform, and infrastructure as a service.
Software as a service moves the separation to the highest level in the stack. Most of cloud services such as web-based email and word processing which are offered for free are in this category (Pereira, 2014). It is beneficial for the users since they do not incur any costs of maintenance.
Platform as a service boosts the separation slightly higher and is a surrounding where the already developed and deployed applications are made available by cloud providers. The consumers take advantage of the platforms provided such as Java programming language and oracle databases (Pereira, 2014).
Infrastructure as a service is the minimum class of separation between what consumers desire and the services that are readily available for them to use (Pereira, 2014). Consumers are supplied with raw computing, storage services and networking, this assists them to establish applications and custom services. The cloud provider is in charge of all the physical resources, while the consumer monitors all the other factors mentioned including development tools and operating system (Pereira, 2014).
Technology alongside its tremendous benefits is also faced with security threats. The prevalent threats include cybercrimes. There has been however measures that have been put in place to try and alleviate this challenges (Pereira, 2014). Cloud itself can be used as a means of securing data and also disseminate information among others.
According to (Pereira, 2014) customers ought to get cloud services from the internet. Reports according to (Pereira, 2014) claims that ethics that regulate internet usage and accessibility are used to help clients access the cloud. Through a communication process clients are able to access information and software in the cloud. Correspondence through the cloud is grouped into; outside correspondence, which happens between the cloud and the clients and inner correspondence, which happens inside the cloud’s framework.
Outer correspondence has likenesses with other Internet types of correspondence. Subsequently, according to (Pereira, 2014) the issues experienced by the cloud as a consequence of its Internet highlight are like those of ordinary information and communication technology. These are concerns such as incorporate man-in-the-center, refusal of administration, IP-parodying based flooding, double dealing and listening to private conversations without consent (Pereira, 2014).
Security Challenges
The general problem is that breaches in security are evident in cloud computing (Jansen, 2011). The specific problem is the increasing costs in the prevention and alleviation of breaches in cloud security. Despite the increased growth in the computing technology, a great danger of losing data due to cybercrimes and other related threats exists. Efforts have been made to curb the problem of security issues (Younis, 2013).
One of these measures includes the use of cloud as a tool to secure data and share information among others. Moreover, the insecurity of cloud computing has recently upsurged (Han, 2013). The paper looks into security vulnerabilities in cloud computing and recent solutions posted by different scholars are discussed.
The cloud’s security risks may vary from those of the infrastructure of traditional IT either in intensity, nature, or even both. Several works have been put in place to monitor the cloud’s security challenges from the service model perspective. The identified challenges are classified according to the following domains; communication issues, contractual and legal issues.
Communication Level Challenges
Normally, the services of the cloud are accessed by customers through the Internet (Younis, 2013). Subashini (2011) reports that standard Internet protocols and mechanisms aid in facilitating the communication between the cloud and customers. The process of communication leads to conveyance of either applications or information/data between the cloud and the customers. Virtual Machines (VMs) of the cloud are also in constant communication with each other. Communication through the cloud is classified into; external communication, which occurs between the cloud and the customers and internal communication, which takes place within the cloud’s infrastructure.
External communication has similarities with other Internet forms of communication. Consequently, the problems encountered by the cloud as a result of its Internet feature are similar to those of conventional IT communication (Rong, 2013). These issues include man-in-the-middle, denial-of-service, IP-spoofing based flooding, eavesdropping, and deception (Jansen, 2011).
Contractual and Legal Level Challenges
According to Rong (2013), implementation of cloud computing requires applications and data to be migrated by institutions to the administrative control of Cloud Service Providers (CSP). As a result, several issues crop up such as geographic jurisdictions, performance assurance, compliance with regulatory laws, contract enforcement monitoring etc. These issues are associated with the legalities, physical locations of the data, and service level agreement (SLA).
Cloud computing is an involving term that (Pereira, 2014) defines a cloud computing as an inclusion of software and system software in the datacenterthat satisfies these services. Some of the exceptional features of cloud computing include the illusion of different hardware resources and the ability to pay for the required resources. In a unique way, (Han, 2013) states that some of the features of cloud computing include use of a wide network access, large resource pool, dynamic elasticity, on-demand self-service, and also the some of the metered services that are similar to utility.
In general, cloud computing uses three main service models (Mell, 2011). The first service is software as a service (SaaS), which is software, distributed based representation in which applications are hosted by a service/vendor provider. The models are accessed by customers or the end users via the network, usually the internet. This model some scholars like (Sebesta, 2012) states that it is associated with the pass-as-you-go subscription licensing model. The second computing model is a platform as a service (PaaS) that allows customers to manage the hosting environment (Chen, 2012, March). The third model is the infrastructure as a service (IaaS).
In this model, the customers control everything apart from the datacenter infrastructure (Sebesta, 2012).
Conclusion
Cloud computing is an emergent phenomenon which is set to revolutionize the use of the internet. Nevertheless caution is a needed about it. Moreover, these new technology has made human lives easier, but people need to be careful in understanding the security risks and challenges involved when using these technologies. In this research paper, the core focus of highlighting the challenges, insecurity issues that arise as a result of cloud computing. In summary, the cloud computing has the capacity of becoming a pioneer in the promotion of a safe, virtual and economical solution in the future.
References
Amazon. (2012, April). Amazon web services blog: Amazon S3 – 905 billion objects and
Chen, D., & Zhao, H. (2012). Data security and privacy protection issues in cloud computing.In Computer Science and Electronics Engineering (ICCSEE), 2012 International Conference on (Vol. 1, pp. 647-651).IEEE.
Chen, Y., Paxson, V., & Katz, R. H. (2010). What’s new about cloud computing security.University of California, Berkeley Report No. UCB/EECS-2010-5 January, 20(2010), 2010-5.
Chen, Y., Paxson, V., & Katz, R. H. (2010). What’s new about cloud computing security.University of California, Berkeley Report No. UCB/EECS-2010-5 January, 20(2010), 2010-5.
Dikaiakos, M. D., Katsaros, D., Mehra, P., Pallis, G., & Vakali, A. (2009).Cloud Computing: Distributed InternetComputing for IT and ScientificResearch.Internet Computing, IEEE, 13(5), 10-13.
Han, Y. (2013). On the clouds: A new way of computing.Information Technology and Libraries, 29(2), 87-92.
Jansen, W. (2011, January). Cloud hooks Security and privacy issues in cloud computing. In System Sciences (HICSS), 2011 44th Hawaii International Conference on (pp. 1-10).IEEE.
Kuo, A. M. H. (2011). Opportunities and challenges of cloud computing to improve health care services.Journal of medical Internet research, 13(3).
Mell, P., &Grance, T. (2011). The NIST definition of cloud computing.
Pereira, A., Machado, R. J., Fernandes, J. E., Teixeira, J., Santos, N., & Lima, A. (2014).Using the NIST reference model for refining logical architectures. In Computational Science and Its Applications–ICCSA 2014 (pp. 185-199). Springer International Publishing.
Ren, K., Wang, C., & Wang, Q. (2012). Security challenges for the public cloud. IEEE Internet Computing, (1), 69-73.
Rong, C., Nguyen, S. T., & Jaatun, M. G. (2013). Beyond lightning: A survey on security challenges in cloud computing. Computers & Electrical Engineering, 39(1), 47-54.
Ryan, M. D. (2013). Cloud computing security: The scientific challenge, and a survey of solutions.Journal of Systems and Software, 86(9), 2263-2268.
Sebesta, D. J., Schmidt, S., Westerinen, W. J., & Carpenter, T. (2012). U.S. Patent No. 8,161,532. Washington, DC: U.S. Patent and Trademark Office.
SO, K. (2011). Cloud computing security issues and challenges. International Journal of Computer Networks, 3(5).
Younis, M. Y. A., &Kifayat, K. (2013).Secure cloud computing for critical infrastructure: A survey.Liverpool John Moores University, United Kingdom, Tech. Rep.
Want help to write your Essay or Assignments? Click here
Globalization has closely linked different markets. With the rise in globalization and market integration, there is a quest to establish a set of global accounting standards. Though progress has been made in establishing a common set of accounting standards, the process still faces challenges that have made it impossible to establish common accounting standards. This paper addresses there benefits of having converging the accounting standards and goes ahead to look at the challenges that make it difficult to converge the accounting standards.
Accounting
Introduction
The rise in globalization has led to the quest to achieve common international accounting standards. Financial users around the world are working towards establishing a common set of worldwide accounting standards though it is yet to be accomplished. This is unfortunate given the many benefits of adopting common accounting standards all over the world. Establishing the same accounting standards would mean that each organization prepares financial statement using the same rules.
This would make it easier for users of financial statements to compare the financial position of different companies. The use of a similar set of global standards would improve the quality of financial reporting. Companies around the world would follow the same high-quality standards and they would have to adhere to these rules hence the quality of financial reporting would improve around the globe. Using a similar set of global standards would enhance efficiency and reduce the cost of capital.
The allocation of funds of companies around the globe would reduce the cost of and enhance efficiency. However, even in light of these benefits of having global accounting standards, the world is yet to achieve common accounting rule. For the last two decades, financial experts have been working towards achieving similar accounting standards without success. Progress has been made but there are still notable differences in financial reporting between countries. Part of the reason the common global accounting standards have not been achieved is due to sovereignty of nations.
Countries feel that having one set of accounting standards would undermine the sovereignty of a nation. This termed as westernization by various nations who feel that the western countries have a tendency to impose rules on other countries. The second challenge is lack international regulatory body that would be used to implement the international accounting standards. Despite the challenges, the world needs to look for a workable solution and converge the accounting standards to enjoy the benefits of a common set of global accounting standards.
Reason the world Need International Accounting Standards
Financial reporting standards around the globe are different, and this creates inconsistency in financial reporting. Today, the world economy has become integrated. Globalization is on the rise, and every market is connected to the other market. Globalization closely links markets together, and effects felt in one market are felt in other markets in different countries (Albrecht, Stice, Stice, & Swain, 2014).
Furthermore, countries are coming together to create economic blocs as each country is realizing the need to integrate and form a single market without barriers. As the world is converging and becoming one market each day, financial expert are also looking for a way to remove the inconsistency in financial reporting. The inconsistencies are a major setback to the users of financial reports. Investors rely on financial statements to make investments decisions. Globalization has encouraged investors to invest in global companies.
However, inconsistency in financial reporting makes it difficult to get the right information. A company located in different countries follows different accounting standards to prepare its financial reports hence it becomes difficult to make sense out of different financial reports provided. There is a need to achieve consistency and ensure that investors are provided with the right information when making decisions around the globe.
International convergence is a concept that was established in the 1950s after the Post World War. It was round this time that countries started creating strong economic blocs that eliminated tariffs and reduced the requirements to move across nations. The integration and diversity of the world increased the cross-border capital flows increasing the need to converge the accounting standards.
Previously, the world had been working towards harmonization of accounting standards but with the integration, it was clear that convergence was appoint of urgency (Horton, Serafeim, & Serafeim, 2013). Different countries sought to come up with the same reliable accounting standards that would be used to represent information of organizations operating in major capital markets.
This led to the formation of the International Accounting Standards Committee which is the modern day International Accounting Standards Board. IASB has made progress in the quest for a unified global accounting standard. This board came up with international financial reporting standards (IFRS). The IFRS is used in more than 100 countries most of them are European Union member states.
Benefits of Having Common Accounting Standards
Comparability
Comparability is one of the greatest advantages of using financial statements. Financial statements are used to indicate the performance of an organization. A person wishing to evaluate the performance of an organization should critically look at the financial records. Financial statements provide a summary of financial position making it possible for investors to understand the position of a company.
However, when companies use different accounting standards, it becomes difficult to understand the financial reports (Atrill & McLaney, 2012). A company in China and a company in the United States will use different accounting standards making it difficult for financial reports users to compare the performance of companies. Using global accounting standards would make comparability a reality.
Items located in financial reports would be similar, and an individual comparing the performance of different companies would compare the essential parts of the reports (Christensen, Lee, Walker, & Zeng, 2015). Users of financial reports can be able to compare important aspects of a business such as liquidity, credit worthiness, profitability, and solvency.
Comparability is not limited to different companies. There are companies operating in different countries. For instance, General Motors, and Mac Donald are operating in different parts of the world. The multinationals have many subsidiaries around the world that use different accounting standards. The companies must adhere to the local accounting standards of each country that they operate in (Drury, 2013).
This makes it difficult for organizations to compare the financial reports of same organization but located in different countries. With international accounting standards, the organizations can be able to measure the performance of each entity regardless of its geographical location. Additionally, the companies would be able to consolidate the financial reports easily and understand how each of entity contributed to the overall performance of the organization.
Improve Quality of Financial Reports
At the top of agenda of the ISAB is to improve the quality of financial standards. The IFRS was established to enhance the quality of financial reports across the world. A global set of accounting standards would be high quality standards (Crosson & Needles, 2013). As much as countries are willing to converge to same accounting standards, they are not willing to compromise the quality of financial reports.
Quality financial reports would provide the user of financial reports with the right information. Investors can make the right investment decision when provided with the right information. If companies across the world would follow high-quality accounting standards, then the financial information provided would be clear, useful and relevant to the users of financial reports.
The cases of the financial crisis of 2008 make it critical to have reliable and quality accounting standards. The financial crisis which affected the world’s strongest economies was caused by lack of adequate regulation where companies provided misleading financial information. A single set of global standards would improve the quality of accounting standards. Companies would not find a loophole to mislead users of financial reports since the global standards are clear and target to ensure that financial report represent the true position of a company.
Companies that have embraced the IFRS have improved the quality of financial reporting. A report released by the IASB indicated that the IFRS has improved the quality of financial reports (Crosson & Needles, 2013). The report further indicated that capital market participants and investors who use information prepared using the IFRS standards get the right information and can be able to evaluate the financial position of different companies use the international standards.
Simplification
Implementing unified financial reporting standards would not only enhance comparability, but it would simplify financial reporting. This is especially true for organizations that have subsidiaries around the world. The companies prepare different financial reports that adhere to local standards but at the end of the day the organizations have to consolidate the financial reports (Becker, Schäffer, & Thaten, 2015). It is difficult to consolidate financial reports prepared using different rules. This is because the items are not represented and accounted for the same way.
The items represent in one financial report in one country may differ from the items of another country making it difficult for multinationals to consolidate the financial reports. Additionally, without converged financial accounting standards, the countries are forced to prepare financial reports using different currencies such as yens, pounds, and dollars depending on the locality they operate (Brochet, Jagolinzer, & Riedl, 2013). It becomes difficult to consolidate the financial reports because they have to consider the foreign exchange rates.
Financial reports simplify the process of mergers and acquisition. Companies are looking to make strategic mergers and acquisition to increase their market share. Mergers and acquisition are becoming prevalent today as companies globalize (Bradshaw, 2010). Companies are establishing mergers to launch products successfully in new markets. Using global accounting standards would enable companies to make the right mergers and acquisition. The companies can be able to look at financial reports comprehensively and compare the results with ease enabling them to make sound decisions.
Reduction in Cost of Capital
Shifting from locally accepted principles to international reporting standards will reduce the cost of capital. Research conducted on the EU nations showed that using a the same accounting standards has boosted the net income by 25%. Companies recorded a rise in earnings before taxes and depreciation. A second study that focused on 30 European organizations showed that the application of the same accounting standards increased profits by $30 billion (Albu & Alexander, 2014).
Implementing similar accounting standards across the world indicates that companies allocate capital more efficiently, and the markets would be more efficient. International accounting standards would also converge the regulation of financial reports hence companies would strive to be efficient. To be ahead of competitors and to attract investors companies would enhance efficiency hence global market would be more efficient.
Challenges
Differences in Accounting Practices in Different Countries
Publicly held countries use the generally accepted accounting principles. Different countries have accepted various accounting principles which are recognized by the different nationals. Research indicates that over 132 countries have so far embraced the IFRS, but there is still a difficult in implementation (Wang, 2014). Countries are not implementing the IFRS standards in the same manner because they have national accounting standards. For instance, the U.S. has U.S. Generally Accepted Accounting Principles (GAAP) and the U.K. use the U.K. GAAP.
Since 2005 Japan started converting to the IFRS from the Japanese Generally Accepted Accounting Principles. However, there are still notable differences between the ways countries treat financial reports. For instance, the United States and United Kingdom accounting standards are stock market oriented because the foreign companies based in these countries rely on the stock exchange as a source of finance.
On the other hand, the accounting standards of Japan are bank oriented because companies rely on bank loans and not willing to participate in stock markets. Japan and the U.K. are guided by different accounting laws. For instance, the United Kingdom is guided by the common legal system while Japan is guided by the code and civil legal system. The differences in accounting practices make it difficult to find one single accounting standards. Countries are not willing to abandon their way of doing things to adopt a new single set of accounting.
For instance, the United States was hard hit by the financial crisis. The country established the Sarbanes Oxley law which increase regulation and specifically focuses on financial reporting. This means that companies in the United States must follow the U.S. GAAP and meet the legal requirements in financial reporting as stipulated by various laws concerning financial reporting (Arnold, 2013). It is difficult for companies to adopt a common set of accounting standards because there are local accounting standards that are unique to each country and laws that must be met.
The generally accepted accounting standards and the International accounting standards treat items of financial reports differently. For instance, there is a distinction in the way the U.K GAAP and IFRS treat leases. The IFRS requires a company to capitalize leases as long as the lease term is major part of the assets economic life. Conversely, the U.K. GAAP requires a company to capitalize a lease as long as the term of the lease is equivalent to 75% of the asset’s economic life (Horton, Serafeim, & Serafeim, 2013).
Converging the different accounting practices of different countries is a big challenge. Countries already have their accounting principles and the way they treat different items such as the lease in the example above is different. It is a big challenge to harmonize the accounting standards and find a set of standards that will be accepted by different countries (DeMiguel, Nogales, & Uppal, 2014).
Sovereignty
The politics of the pride of a nation and sovereignty has worsened the chance of achieving global accounting standards. Establishing a global set of standards would impose accounting standards on countries. The global set of accounting standards has already come under criticism because it undermines the sovereignty of nations. Financial experts in the United States released a report that revealed that a global set of financial standards would impact on the quality of financial report negatively (Weil, Schipper, & Francis, 2013).
The experts argued that global set of accounting standards replaces comparability with quality. The report indicates that the current accounting standards in the United States focus on the quality of financial reports and adopting other standards would undermine the sovereignty of the nation and at the same time lower the quality of financial reports.
The global accounting set of standards has been criticized as western dominance. The Western countries have often been criticized of imposing rules and regulations on countries. The wave of democratization, for instance, has been cited as a move by West to dominate (Arrow & Lind, 2014). When coming up with the global accounting standards, the West is actively involved and poor countries do not get to contribute adequately. When the accounting standards are imposed on other countries, it strips them the ability to establish different accounting standards that are unique to the situation.
Lack of Regulatory Body
Though more than 130 countries have adopted the IFRS, there are notable differences financial reports. This is because there is no regulatory body that ensures that each country strictly follows the accounting standards. There is no international regulatory body that can mandate countries to adhere to accounting process. According to Scott (2012), to achieve consistency in the preparation of financial report, there must be an international regulatory body. The regulatory body should oversee the implementation of converged accounting standards.
Additionally, it would be in-charge of dealing with companies that fail to comply with the accounting standards. The regulatory body should be endowed with the authority to regulate both public and private entities to ensure that financial reports meet the international standards. Without the regulatory body, it is impossible to achieve consistency and ensure that all companies are using the same set of global standards.
The Costs of having Global Set of Standards
Having a worldwide accepted accounting standards would increase the cost of accounting in various companies. First, establishing a global set of standards would require that accountants worldwide are retrained. The accountants must be trained on how to prepare the financial accountants using the new accounting standards (Brigham & Ehrhardt, 2013).
Companies would have to incur the costs of retraining the accountants in order to adhere to the new set of accounting standards. The second cost is that failure in the accounting system would cause a worldwide failure. Leiwy and Perks (2013) stipulate that a failure in the accounting standards would cause accounting standards at the same time.
Conclusion
Getting a set of global accounting standards has definitely been at the top of agenda of the IASB in the last decade. Amidst the challenges this course changes there are doubts as to whether it is still possible to attain the global accounting standards. The pride of nationalism and politics of sovereignty make it difficult every day to achieve a single set of global accounting standards.
Every country wants to maintain certain aspects of its accounting standards making it difficult to come up with a common set international accounting standard that will be widely accepted. The world lacks an international regulatory body that will be in charge of implementation and ensuring companies comply with the laws. Lastly, the differences in accounting practices across countries make it impossible to establishing similar accounting standards.
However, there are numerous benefits of applying the same accounting standards. They include comparability, enhancing market efficiency, simplification and improving the quality of financial accounts. In light of these benefits, countries should work together to find a solution and establish a common set of international accounting standards.
Reference List
Albrecht, W., Stice, J., Stice, E., & Swain, M. 2014. Accounting: Concepts and Applications. London: Cengage Learning.
Albu, C., & Alexander, D. 2014. When global accounting standards meet the local context—Insights from an emerging economy. Critical Perspectives on Accounting, 25(6), 489-510.
Arrow, K. J., & Lind, R. C. 2014. Uncertainty and the evaluation of public investment decisions. Journal of Natural Resources Policy Research, 6(1), 26-44.
Atrill, P., & McLaney, E. 2012. Accounting and Finance for Non-specialists. Wales: Pearson Education.
Becker, S., Schäffer, U., & Thaten, M. 2015. Budgeting in times of economic crisis. Contemporary Accounting Research., 1-12.
Bradshaw, M. 2010. Financial Reporting, Financial Statement Analysis and Valuation: A Strategic Perspective. New Orleans: Cengage Learning.
Brigham, E., & Ehrhardt, M. 2013. Financial management: theory & practice. New York: Cengage Learning.
Brochet, F., Jagolinzer, A., & Riedl, E. 2013. Mandatory IFRS adoption and financial statement comparability. Contemporary Accounting Research, 30(4), 1373-1400.
Christensen, H., Lee, E., Walker, M., & Zeng, C. 2015. Incentives or standards: What determines accounting quality changes around IFRS adoption? European Accounting Review, 24(1), 31-66.
DeMiguel, V., Nogales, F. J., & Uppal, R. 2014. Stock return serial dependence and out-of-sample portfolio performance. Review of Financial Studies, 27(4), 1031-1073.
Drury, C. 2013. Cost and Management Accounting: An Introduction. New York: Cengage Learning.
Horton, J., Serafeim, G., & Serafeim, I. 2013. Does mandatory IFRS adoption improve the information environment? Contemporary Accounting Research, 30(1), 388-423.
Leiwy and Perks. 2013. Accounting: understanding and practice 4th Edition. New York: McGraw-Hill.
Scott. 2012). Accounting: understanding and practice 4th Edition. New York: McGraw-Hill.
Wang, C. 2014. ccounting standards harmonization and financial statement comparability: Evidence from transnational information transfer. Journal of Accounting Research, 52(4), 955-992.
Weil, R., Schipper, K., & Francis, J. 2013. Financial accounting: an introduction to concepts, methods and uses. San Francisco: Cengage Learning.
Want help to write your Essay or Assignments? Click here
