Financial Reporting and Analysis Essay Example | Topics and Well Written Essays - 1250 words

Monetary Reporting and Analysis - Essay Example b) The Board might be required to relinquish impartiality and build up principles of revealing that hides the specific exchanges sway from the clients of the money related reports. These costs will, notwithstanding, exist in any case whether FASB approves their acknowledgment in budget summaries. It won't change the financial matters of exchange and it will just retain data from the clients of the monetary reports while settling on educated choices and, in the long run, the believability of budgetary reports is debilitated. c) The SEC depends on the Board and the private part forerunners to build up and redesign money related bookkeeping and the announcing guidelines Accounting principles are subsequently, settled through a fair treatment and open thoughts framework to improve and affirm the Board’s crucial improving budgetary detailing. By creating unbiased bookkeeping measures to the wellbeing of people in general, comparative exchanges ought to be dealt with also and various exchanges rewarded in an unexpected way. This plainly shows standard setting is in private segment in US. d) Some bookkeeping principles are undercut with the goal that they can accomplish their motivation which isn't identified with reasonable and exact introduction of fiscal summaries. They there front come up short in the reason they serve and thus need financial impact since they are not of significance to chiefs on allotment of assets and settling on other monetary choices. a) Dividends ought to be uncovered in changes of value articulation and in the notes as follows. Profits that are announced are entered in the Retained Earnings account on the credit side and credited to the profits payable record. At the point when paid, profits are presented on the profits payable record in the charge side and to the Cash account, are presented on the credit side. Notes concerning the profits can be outlined as follows; b) The arrangement for a claim ought not be unveiled in light of the fact that the probability of

Implications of Clonal Genome Evolution for Cancer Medicine Essay

Ramifications of Clonal Genome Evolution for Cancer Medicine - Essay Example What's more, the creators show their degree of information on the current theme in that it is truly familiar passing by the data introduced before, present and future utilization of hereditary qualities in the treatment of malignant growth. The above infers that the creators have a tremendous bank of information on the issue. This is a reality that is hard to disprove as even the terms applied in the article just slime ability in the field by even the correlations verified parts of cells as found in the examination work. Something like this must be finished by an individual with satisfactory information on the current issues, and not any individual who thinks they have sufficient data on the theme, which is the situation with this article. So as to speak to the feelings of the crowd, the creators apply various procedures that prove to be useful to content conveyance. Thusly, the writers apply realities and the educational idea of the article to speak to the crowd in that, by being fo unded on a science subject, it delivers data legitimately. Comparable to this, the article doesn't leave the crowd to look for the significant point for themselves however rather, contains each sort of data that the crowd would need to appreciate. The feeling of the article starts with the immediate articulation of the rationale or objectives of the article and graduates to the advancement of malignant growth, which is given realities about evolutionism, and afterward goes further to make conclusions of the ramifications of the history to present day times.... th a solid feeling of expert in hereditary qualities dependent on the dialect applied to convey the substance, which is a non-reluctant progression of word after word, which all show how much intrigue the creator has. All things considered, the creators express their enthusiasm for the issue following the endeavors that have been made in the field of medication so as to inch nearer to some type of treatment and comprehension of malignant growth and its suggestions. Considering this, the article shows how much the writers have experienced so as to convey the substance, which is additional verification of their personal stake in the subject of advancement and malignant growth for the crowd to focus. Likewise, the creators show their degree of information on the current subject in that it is quite familiar passing by the data introduced on the past, present and future use of hereditary qualities in the treatment of malignant growth. The above suggests that the creators have a gigantic b ank of information on the issue. This is a reality that is hard to disprove as even the terms applied in the article just slime skill in the field by even the correlations verified parts of cells as found in the exploration work. Something like this must be finished by an individual with sufficient information on the current issues, and not any individual who thinks they have satisfactory data on the theme, which is the situation with this article. So as to engage the feelings of the crowd, the creators apply various procedures that prove to be useful to content conveyance. Thusly, the writers apply realities and the enlightening idea of the article to engage the crowd in that, by being founded on a science subject, it delivers data straightforwardly. Comparable to this, the article doesn't leave the crowd to look for the significant point for themselves however,

Admiral Jesse B. Oldendorf in World War II

Chief of naval operations Jesse B. Oldendorf in World War II Jesse Oldendorf - Early Life Career: Conceived February 16, 1887, Jesse B. Oldendorf spent his youth in Riverside, CA. After accepting his essential instruction, he looked to seek after a maritime profession and prevailing with regards to acquiring an arrangement to the US Naval Academy in 1905.â An average understudy while at Annapolis, Oley as he was nicknamed, graduated four years after the fact positioned 141st in a class of 174.â As the strategy of the time required, Oldendorf initiated two years of ocean time before getting his ensigns bonus in 1911.â Early assignments included postings to the protected cruiser USS California (ACR-6) and the destroyer USS Preble.â In the years preceding the United States entrance into World War I, he additionally served on board USS Denver, USS Whipple, and later came back to California which had been renamed USS San Diego.  Jesse Oldendorf - World War I: Finishing a task on board the hydrological overview transport USS Hannibal close to the Panama Canal, Oldendorf returned north and later arranged for obligation in the North Atlantic after the American affirmation of war.â Initially directing selecting exercises in Philadelphia, he at that point was doled out to lead a maritime outfitted gatekeeper separation on board the vehicle USAT Saratoga.â That mid year, after Saratoga was harmed in an impact off New York, Oldendorf moved to the vehicle USS Abraham Lincoln where he filled in as gunnery officer.â He stayed on board until May 31, 1918 when the boat was hit by three torpedoes shot by U-90.â Sinking off the Irish coast, those on board were safeguarded and taken to France.â Recovering from the experience, Oldendorf was presented on USS Seattle that August as a building officer.â He proceeded in this job until March 1919. Jesse Oldendorf - Interwar Years: Quickly filling in as official of USS Patricia that mid year, Oldendorf then came shorewards and traveled through enlisting and building assignments in Pittsburgh and Baltimore respectively.â Returning to the ocean in 1920, he did a short stretch on board USS Niagara before moving to the light cruiser USS Birmingham.â While on board, he filled in as banner secretary to a progression of bosses of the Special Service Squadron.â In 1922, Oldendorf moved to California to fill in as associate to Rear Admiral Josiah McKean, the commandant at Mare Island Navy Yard.â Completing this obligation in 1925, he expected order of the destroyer USS Decatur.â Aboard for a long time, Oldendorf then burned through 1927-1928 as an assistant to the commandant of the Philadelphia Navy Yard. Having achieved the position of authority, Oldendorf got an arrangement to the Naval War College in Newport, RI in 1928.â Completing the course a year later, he quickly started investigations at the US Army War College.â Graduating in 1930, Oldendorf joined USS New York (BB-34) to fill in as the war vessels navigator.â Aboard for a long time, he at that point came back to Annapolis for a task instructing navigation.â In 1935, Oldendorf moved toward the West Coast to fill in as official of the ship USS West Virginia (BB-48).â Continuing an example of two-year postings, he moved to the Bureau of Navigation in 1937 to administer enrolling obligations before expecting order of the substantial cruiser USS Houston in 1939. Jesse Oldendorf - World War II: Presented on the Naval War College as a route educator in September 1941, Oldendorf was in this task when the United States entered World War II after the Japanese assault on Pearl Harbor.â Leaving Newport in February 1942, he got an advancement to raise chief of naval operations the next month and a task to lead the Aruba-Curaã §ao part of the Caribbean Sea Frontier.â Helping to secure Allied business, Oldendorf moved to Trinidad in August where he played a functioning job in hostile to submarine warfare.â Continuing to take on the Conflict of the Atlantic, he moved north in May 1943 to lead Task Force 24.â Based at Naval Station Argentia in Newfoundland, Oldendorf directed all guard accompanies in the Western Atlantic.â Remaining in this post until December, he at that point got orders for the Pacific. Lifting his banner on board the substantial cruiser USS Louisville, Oldendorf expected order of Cruiser Division 4.â Tasked with giving maritime gunfire backing to Admiral Chester Nimitzs island-jumping effort over the Central Pacific, his boats went without hesitation in late January as Allied powers arrived at Kwajalein.â After helping in the catch of Eniwetok in February, Oldendorfs cruisers struck focuses in the Palaus before leading assault missions to help troops shorewards during the Marianas Campaign that summer.â Transferring his banner to the war vessel USS Pennsylvania (BB-38), he coordinated the pre-intrusion barrage of Peleliu that September.â throughout activities, Oldendorf pursued contention when he finished the assault a day ahead of schedule and excluded shelling an undeniable Japanese solid point.  Jesse Oldendorf - Surigao Strait: The next month, Oldendorf drove the Bombardment and Fire Support Group, some portion of Vice Admiral Thomas C. Kinkaids Central Philippine Attack Force, against Leyte in the Philippines. Arriving at its fire bolster station on October 18 and his war vessels started covering General Douglas MacArthurs troops as they went aground two days after the fact. With the Battle of Leyte Gulf in progress, Oldendorfs ships moved south on October 24 and obstructed the mouth of the Surigao Strait.â Arraying his boats in a line over the waterway, he was assaulted that night by Vice Admiral Shoji Nishimuras Southern Force.â Having crossed the enemys T, Oldendorfs ships, a significant number of which were Pearl Harbor veterans, incurred an unequivocal annihilation on the Japanese and sunk the ships Yamashiro and Fuso.â In acknowledgment of the triumph and the keeping the adversary from arriving at the Leyte foothold, Oldendorf got the Navy Cross. Jesse Oldendorf - Final Campaigns: Elevated to bad habit chief naval officer on December 1, Oldendorf expected order of Battleship Squadron 1.â In this new job he told the fire bolster powers during the arrivals at Lingayen Gulf, Luzon in January 1945.â Two months after the fact, Oldendorf was put down and out with a messed up neckline bone after his canal boat hit a float at Ulithi.â Temporarily supplanted by Rear Admiral Morton Deyo, he came back to his post in early May.â Operating off Okinawa, Oldendorf was again harmed on August 12 when Pennsylvania was hit by a Japanese torpedo.â Remaining in order, he moved his banner to USS Tennessee (BB-43).â With the Japanese acquiescence on September 2, Oldendorf made a trip to Japan where he coordinated the control of Wakayama.â Returning to the United States in November, he accepted order of the eleventh Naval District in San Diego. Oldendorf stayed in San Diego until 1947 when he moved to the post of Commander, Western Sea Frontier.â Based in San Francisco, he held this situation until his retirement in September 1948.â Promoted to chief of naval operations as he left the administration, Oldendorf later passed on April 27, 1974.â His remaining parts were buried at Arlington National Cemetery.â  â   â Chosen Sources World War II Database: Jesse OldendorfU-pontoon: Jesse OldendorfFind A Grave: Jesse Oldendorf

Financial Reporting and Capital Markets - Free Essay Example

Financial Reporting and Capital Markets: Explain the accounting for ATTs acquisition of NCR and Coca-Colas channel stuffing. Discuss and compare the motivations of those who made the accounting choice, explaining what consequences the academic literature would predict to follow from the choice. Creative accounting is a means by which companies manipulate standard accounting practices, in an attempt to influence the way certain parties interpret financial performance. A multitude of devices exist within creative accounting, two examples of which will be discussed in this essay: firstly, the pooling method of accounting used in ATTs 1991 acquisition of NCR; and secondly, Coca-Colas 1997-99 channel stuffing. The motivations of such accounting choices will be discussed and compared, explaining the relevant consequences academic literature would expect to follow. Discussion relies on the assumption, held and tested by many academics[1], that market efficiency is of the semi-strong form. ATT monopolised the long-distance telephone industry for almost a century, until the Department of Justice filed an antitrust action in 1974. A consent decree was signed in 1982 à ¢Ã¢â€š ¬Ã¢â‚¬Å" a widely criticised decision à ¢Ã¢â€š ¬Ã¢â‚¬Å" stating ATT must divest 75% of their assets (Ly s, 1995), yet could enter the unregulated computer-orientated industry. 1988-appointed CEO in 1988,, Robert Allenà ¢Ã¢â€š ¬Ã¢â€ž ¢s analysis suggested ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s continuing computer losses could be solved significant investment or divestment. Moving forward with the former option à ¢Ã¢â€š ¬Ã¢â‚¬Å" arguably to à ¢Ã¢â€š ¬Ã…“save faceà ¢Ã¢â€š ¬Ã‚  after signing the decree à ¢Ã¢â€š ¬Ã¢â‚¬Å" presented NCR as a potential acquisition. ATT was determined to acquire NCR, debatably in an attempt to reposition itself as a market competitor, despite weak history regarding computer mergers, NCRà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial setbacks and the general consensus of NCRà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã…“lemonà ¢Ã¢â€š ¬Ã‚ -like status. Acquisitions can either use the pooling-of-interests or purchase method of accounting à ¢Ã¢â€š ¬Ã¢â‚¬Å" neither of which impact future cash flow. The former sees assets acquired at book value, and the latter requires acquisition at fair market value, with the inclusion of amortisable goodwill. Several barriers existed to prevent the Securities and Exchange Commission (SEC) from granting permission to pool (Lys, 1995) some of which were purposefully introduced by NCR as a defence mechanism. Significant costs were incurred to sidestep the barriers; including reportedly lobbying the SEC. ATT arranged 6.3 million NCR shares (at $102.75) to be placed with Californian money manager, Capital Group Inc., which were exchanged for 6.3 million ATT shares (at $110.74). This cost ATT $50.3 million à ¢Ã¢â€š ¬Ã¢â‚¬Å" profit recognised by Capital Group à ¢Ã¢â€š ¬Ã¢â‚¬Å" with an additional $10 per share offered for NCRà ¢Ã¢â€š ¬Ã¢â€ž ¢s managerial cooperation. ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s motives to pool rather than purchase à ¢Ã¢â€š ¬Ã¢â‚¬Å" costing them a confirmed $50 million premium, with the willingness to pay an additional $450 million à ¢Ã¢â€š ¬Ã¢â‚¬Å" were related to the belief that earnings per share (EPS) would increase. The b elieved increase related to ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s perception of the market efficiency, who predicted that, with the purchase method, shareholders and financial analysts would incorrectly interpret decreasing earnings due to goodwill amortisation as decreasing cash flow, resulting in a 20% share price decrease (with 100% stock, pooling EPS = $2.42, purchase EPS = $1.97). ATT investors, during the six-month negotiation period, had adverse reactions to all news that increased likelihood of acquisition. Indeed, throughout the 9-month, $7.5 billion acquisition, ATT shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ wealth decreased $6.5 billion (NCRà ¢Ã¢â€š ¬Ã¢â€ž ¢s increased $3.5 billion). ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s assumption relating to market inefficiency was that analysts and investors would not recognise the difference between the purchase and pooling effects on earnings. However, research into the correlation between purchase accounting and stock prices reveals no market inefficiencies (Hong 197 8). The lack of evidence supporting this assumption perhaps suggests that NCR supplied inside information to ATT. The disregard to the marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s negative response to the deal is illustrative of ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s belief of market inefficiency with regard to acquisitions. Lys suggests that psychological motives exist, such as the pressure on a decision-maker to à ¢Ã¢â€š ¬Ã…“become boundà ¢Ã¢â€š ¬Ã‚  to decisions that are taken freely, not easily reversed and have personal ramifications. Such theory coheres with the earlier notion of ATT trying to redeem itself after the 1982 decree, within the computer industry. Coca-Cola Enterprise (CCE) à ¢Ã¢â€š ¬Ã¢â‚¬Å" the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s biggest manufacturer and distributer of non-alcoholic concentrates and syrups à ¢Ã¢â€š ¬Ã¢â‚¬Å" surpassed expected earnings from 1990-1996, with its share price increasing over twice as fast as the SP500. In 1996, Coca-Cola began to face competition in a tough economic envi ronment yet it publically maintained its growth through hidden à ¢Ã¢â€š ¬Ã…“channel stuffingà ¢Ã¢â€š ¬Ã‚ , an example of real earnings management. Demand is only truly seen internally, and as such when anticipated demand is low tangible products can be à ¢Ã¢â€š ¬Ã…“stuffedà ¢Ã¢â€š ¬Ã‚  downstream to customers à ¢Ã¢â€š ¬Ã¢â‚¬Å" known as the carryover effect (Lai, 2010) à ¢Ã¢â€š ¬Ã¢â‚¬Å" allowing higher sales revenues to be reported, with investors thereby incorrectly overvaluing the company. CCE persuaded bottlers to purchase additional concentrate, that they wouldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t have required until the next period, offering incentives such as: extended payment terms (Terhune, 2004), indications of increasing price, discounted prices for extra purchase quantities (United States District Court, 2005), etc. Increasing bottler concentrate inventory levels suggested increasing sales, yet their sales rose only 11% from 1997-1999, whereas concentrate levels produced and delivered by CCE increased over 60%. The inflation of product sales à ¢Ã¢â€š ¬Ã¢â‚¬Å" increasing revenue by $600 million à ¢Ã¢â€š ¬Ã¢â‚¬Å" falsely implied a healthy future for CCE. Channel stuffing was not disclosed to shareholders, and relied on semi-strong market efficiency assuming, correctly for a period of time, that shareholders would not notice the creative accounting device. CCE released higher sales figures, in line with past growth, which created a short-term profit boost; this was not sustainable. Bringing future inventory forward created a deficit for the next period, which required another, larger channel stuff, forcing a vicious spiral of declining sales, inventory deficits and gallon pushes. Ultimately, bottlers were holding significantly more inventory than the forecasted decreasing demand required. In 1999 inventory levels were too high, thus channel stuffing ended, leading to a large decrease in revenue. Gunny (2005) refers to channel stuffing as a mana gerà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã…“willing[ness] to sacrifice future cash flowsà ¢Ã¢â€š ¬Ã‚  in the short-term, with research showing that operating performance will be reduced in the long-term. CCE violated Sections 17(a)(2)/17(a)(3) of the Securities Act by not disclosing their channel stuffing to investors. Additionally, CCE produced false statements announcing a à ¢Ã¢â€š ¬Ã…“several-month long optimum inventory studyà ¢Ã¢â€š ¬Ã‚  conducted alongside retailers (SEC 2005). Additionally, CCE violated Section 13(a) of the Exchange Act, which stated that any trends known by a company that are expected to negatively impact revenue must be disclosed. In 2000, the investors who bought CCE stock, after being misled, filed a lawsuit claiming that channel stuffing led to inflated and dishonest revenues. CCE agreed to settle in order to elude unwanted litigation, yet did not admit any misconduct. They agreed to abstain from future securities violations, paying close attention to sales levels to bottlers. CCEà ¢Ã¢â€š ¬Ã¢â€ž ¢s motives for channel stuffing are arguably twofold: the decline in demand for products, explained by CCE as due to bad weather and unexpected expenses, meant that financial analystsà ¢Ã¢â€š ¬Ã¢â€ž ¢ sales forecasts would be missed and hence share prices would decrease (Chan, 2005). Secondly, (Chan 2005); and plaintiffs alleged that the performance-based bonuses contributed to the creative accounting. Such theory corroborates the discovery that several officers later suspiciously shorted millions of dollars of inflated CCE stock days before corrective disclosures of CCEà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial position (United States District Court, 2005). Similarly, Lys discuses the possibility of incentive-based compensation in ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s pooling decisions. Details of calculations and estimates can be found in Lys (1995), though an overview explains that the $0.45 EPS decrease from the purchasing method would have reduced Al lenà ¢Ã¢â€š ¬Ã¢â€ž ¢s bonus by $427,245 (over the ten-year goodwill amortisation period) and by $3.4 million for the officer group, compared to smaller bonus reductions of $140,445 and $811,468 respectively after pooling treatment. This resulted in a  £2,909,862 net pooling benefit, though this is relatively small compared to the wealth of the officer group. It can be reasoned that ATT either had motives not aligned to maximizing value to the shareholders or possessed inside information. The former relates to the principal-agent problem; arguably ATT had psychological and, as well as CCE, compensation scheme motives. The latter relates to the market efficiency, in particular the asymmetry of information. CCEà ¢Ã¢â€š ¬Ã¢â€ž ¢s channel stuffing was based on the premise that they knew something the market and distributors did not about the demand trends. Similarly, NCR appeared to the market as a lemon, with all events associated with acquisition reducing ATTà ¢Ã¢â€š ¬Ã¢â€ ž ¢s stock price. Their persistence regarding the deal suggested they saw value that the market did not. Contrary to this, Lys (1995) described the deal as value destruction, and 6 years after the hostile takeover NCR re-established itself as a separate company after a à ¢Ã¢â€š ¬Ã…“disastrous relationshipà ¢Ã¢â€š ¬Ã‚  with ATT (Andrews, 1996), confirming the marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s lemon opinion. Considering the motives to pool and not purchase, one must ask if ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s managementà ¢Ã¢â€š ¬Ã¢â€ž ¢s belief that EPS would decrease with purchase was justification for a $50 million premium. Hongà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1978) research into the correlation between purchase accounting and stock prices questions ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s pooling rationale, revealing no inefficiencies, rendering the premium to pool shares redundant. Yet, Ayers (2002) indicates that CFOs commonly fear purchase accounting negatively affects stock values justifying the large premium, researchi ng that on average a firm will pay over $60 million for pooling treatment. Hopkinsà ¢Ã¢â€š ¬Ã¢â€ž ¢ (2000) research, contradicting Hongà ¢Ã¢â€š ¬Ã¢â€ž ¢s, within experimental settings shows that analysts frequently do not appropriately take into account purchase or pooling methods when adjusting stock prices. Additionally, it could be argued ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s concerns over investor misinterpretation could have been reduced with voluntary disclosures, reducing the information gap between managers and investors (Healy, 2001). A decline in demand and failure to meet analyst forecasts and expectations would indefinitely result in a decreasing stock price. CCE, rightly, believed the market would not recognize the downward trend due to their lack of access to the soft drink industryà ¢Ã¢â€š ¬Ã¢â€ž ¢s data. Additionally, their understanding of market efficiency led them to assume investors would not immediately recognize their channel stuffing activities. Though financial rep orting and disclosure are crucial for outside investors to understand performance, it can be argued that the device used by ATT was transparent à ¢Ã¢â€š ¬Ã¢â‚¬Å" an informed investor could have inferred motives from publically available information à ¢Ã¢â€š ¬Ã¢â‚¬Å" and by CCE was opaque. Keller (1991a) references that Donaldson, Lufkin Jenrette analyst Gross recognized and agreed with ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s insistence on pooling treatment, foreseeing the negative share price implications if SEC denied the pooling request. Though in CCEà ¢Ã¢â€š ¬Ã¢â€ž ¢s case it was not recognized, Lai (2010) notes certain activity à ¢Ã¢â€š ¬Ã¢â‚¬Å" for example large increases in accounts receivable or excess inventory at customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ (Hendricks 2008) à ¢Ã¢â€š ¬Ã¢â‚¬Å" can hint at, though not identify, channel stuffing. Ulterior motives to use the aforementioned accounting devices, such as psychological or bonus schemes could not be deciphered without inside information. Thou gh ATT did not use an illegal device, and CCE admitted no wrongdoing, both performed questionable accounting practices. Thus, decreasing shareholder trust would be a certain consequence, especially for CCE. Indeed, Akerlof (1970) stated à ¢Ã¢â€š ¬Ã…“dishonest dealings tend to drive honest dealings out of the marketà ¢Ã¢â€š ¬Ã‚ , suggesting future and potential investors would distrust ATT, who acted despite the marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s concerns, and CCE, who used information asymmetry to mislead the market. The SEC proved that channel stuffing occurred and CCE put certain bodies and practices in place to ensure openness with regard to financial, ethical and compliance matters. This would not repair the broken trust between the two companies and the market and thus stock prices, in the long-term, would be predicted to decrease due to the dishonesty. CCE knowingly misled investors into believing their sales were continuously growing, in order to meet and exceed forecasted ear nings, taking advantage of the asymmetric nature of the marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s information. Whereas, ATT paid a $50 million premium, with the potential to increase this to $500 million, in order to protect themselves from misinterpretation due to their perceived market efficiency, which was arguably weaker than semi-strong. An alternative hypothesis is that the principal-agent theory was in play, with ATT managers acquiring the lemon-like company for reasons other than maximising shareholder value. Both ATT and CCE office members received financial benefits from the acquisition and channel stuffing respectively, although neither the significance nor the malicious attempts to secure such bonuses has been proven. Academics, in particular Hong, suggests that the semi-strong market form would not let either pooling or purchase methods of accounting affect ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock price, contradictory to Grossà ¢Ã¢â€š ¬Ã¢â€ž ¢s and Hopkinsà ¢Ã¢â€š ¬Ã¢â€ž ¢s analyses. Lai and Hendrick both suggest that certain activities can indicate channel stuffing and though the CCE device was not immediately detected the incident has helped reinforce and improve regulations put in place to prevent future channel stuffing. Akerlofà ¢Ã¢â€š ¬Ã¢â€ž ¢s Lemon model implies that the two companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ dishonest behaviour would not bode well in the long-term with investors or shareholders. In conclusion, the assumption, held throughout this essay, of semi-strong market efficiency is crucial when deciphering the true motives and consequences of the two cases. The motives, which are still unclear, of ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s pooling treatment and CCEà ¢Ã¢â€š ¬Ã¢â€ž ¢s channel stuffing stemmed from the seemingly innocent desire to increase shareholder value and avoidance of misinterpretation, to the controversy of performance-related bonuses, malicious information asymmetry and psychological pressures. ATTà ¢Ã¢â€š ¬Ã¢â€ž ¢s perception of lower than semi-strong form, and corroborating analyses from Gross and Hopkins, suggested uninformed investors would misinterpret their financial performance, despite Hongà ¢Ã¢â€š ¬Ã¢â€ž ¢s conflicting research. CCE believed the semi-strong form left room to mislead the uninformed investors into thinking financial performance was significantly greater than it actually was, leading to poor performance and distrust in the long-term. The creative accounting devices discussed would have led to decreasing stock price as a consequence of their dishonest nature. In the words of Akerlof (1970), the à ¢Ã¢â€š ¬Ã…“cost of dishonestyà ¢Ã¢â€š ¬Ã‚  ultimately à ¢Ã¢â€š ¬Ã…“[drives] legitimate business out of existenceà ¢Ã¢â€š ¬Ã‚ . Bibliography Akerlof, G 1970, The Market for Lemons: Quality Uncertainty and the Market Mechanism, The Quarterly Journal of Economics, vol 84, no. 3, pp. 488-500. Ambreen A. Delawalla, JAJJ,TRDABLA 2007, In re Coca-Cola Enterprises Inc Securities Litigation, Case: 1:06-CV- 0275-TWT, United States District Court, Georgia. Andrews, E 1996, ATT Acquisition, Soon to Be Spun Off, Regains NCR Name, The New York Times, 11 January 1996. Ayers, B 2002, Do firms purchase the pooling method?, in Review of Accounting Studies, Kluwer Academic Publishers, Netherlands. Chan, F 2005, The JIT revolution: What actually happened in the inventories of American companies between 1981 and 2000?, Forthcoming in Management Science. Fama, EF 1970, Efficient Capital Markets: A Review of Theory and Empirical Work, The Journal of Finance, Blackwell Publishing for the American Finance Association, New York. Gunny, K 2005, What are the Consequences of Real Earnings Mangement?, Haas School of Business, University of California, Berkeley. Guoming Lai, LDLN 2010, Manager Incentives for Channel Stu ±ng with Market-based Compensation , Chicago Booth School of Business , University of Chicago , Chicago. Hai Hong, RSKGM 1978, Pooling vs Purchase: the effects o f accounting for mergers on stock prices, The Accounting Review, no. 53, pp. 31-42. Hendricks, KB,VRS 2008, Demand-supply mismatch and stock market reaction: Evidence from 28 excess inventory announcements, MSOM. Hopkins, PE,RWHAMFP 2000, Valuation of the components of purchased goodwill, Journal of Accounting Research. Lys, T 1995, An analysis of value destruction in ATTs acquisition of NCR, Graduate School of Business, J.L. Kellogg Graduate School of Manchester, Northwestern University, University of Chicago, Chicago. Merton, RC 1987, A simple model of capital market equilibrium with incomplete information., The Journal of Finance , pp. 42, 483à ¢Ã¢â€š ¬Ã¢â‚¬Å"510. Paul M Healy, KGP 2001, Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature, Graduate School of Business, Harvard University, Journal of Accounting and Economics, Boston. Perler, HMSJ 2010, Financial Shenanigans, 3rd Edition, McGraw Hil l, New York. SEC 2005, US Securities and Exchange Commission, viewed 20 February 2014, https://www.sec.gov/news/press/2005-58.htm., April 18, 2005. Terhune, C 2004, Probe of Cokes Sales Leads to Japan, The Wall Street Journal. Tobin, J, On the Efficiency of the Financial System, Lloyds Bank Review, 153: 1-15. United States District Court 2005, Civil Action, file note 1:06-CV-0275. Vishny, ASARW 2011, Stock Market Driven Acquisitions , Harvard University, Boston. 1 Financial Reporting and Capital Markets, Essay 1, 7167N [1] Notably, (Vishny, 2011),) (Tobin, n.d.) (Fama, 1970)

Feminism and Masculinity Essay - 836 Words

In contemporary society, hegemonic masculinity is defined by physical strength and boldness, heterosexuality, economic independence, authority over women and other men, and an interest in sexual relationships. While most men do not embody all of these qualities, society supports hegemonic masculinity within all its institutions, including the educational institute, the religious institute and other institutes which form the ideological state apparatus. Standards of masculinity vary from time to time, from culture to culture. However, masculinity always defines itself as superior and different from femininity. For example, gay men and househusbands exemplify subordinate masculinities in our culture. They are not considered to be real†¦show more content†¦Many other critics however believe that it is womens lives that have changed more so than mens. As Judith Stacey states in her book, Theory and Society (1993), journalists and academics share recognition of a problem, a problem that is named not femininity in crisis but as a crisis in masculinity (Stacey, 1993: 719). So although more changes are going on in womens lives, men are more affected and the notion of masculinity is therefore resulting in a crisis. According to Anthony Clare the heart of the masculinity crisis lies within the understanding of the private and public sphere, the intimate and the impersonal, the emotional and the irrational (Clare, 2000:212). Both men and women are both confined to their spaces and the line between the two has somewhat been blurred, thus resulting in a crisis. The way in which this line is blurred is by masculinity becoming more feminized. There have been two major shifts in masculinity over the last twenty years. Firstly there is the structural change which mainly takes place in the workforce. And the second shift is the ideological change which pushes for real equality between men and women. The structural changes which have taken place in the workforce have been very significant. The workplace has become more feminized, but despite this, men are still at a more authoritative position. During the 1950s to the 1960s paid employment was seen to be very masculine and women wereShow MoreRelated Feminism and Masculinity Essay820 Words   |  4 Pagescontemporary society, hegemonic masculinity is defined by physical strength and boldness, heterosexuality, economic independence, authority over women and other men, and an interest in sexual relationships. While most men do not embody all of these qualities, society supports hegemonic masculinity within all its institutions, including the educational institute, the religious institute and other institutes which form the ideological state apparatus. Standards of masculinity vary from time to time, fromRead MoreFeminism : The Patriarchy And Masculinity1273 Words   |  6 PagesPatricia Smith, have redefined patriarchy to be inclusive of gender identity (masculinity and femininity), yet the original implication of patriarchy relied on gender roles and a fixed gender binary. These theorists have argued that the patriarchy harms both men and women, as feminine men are ostracized for not fulfilling the role of an alpha male—a male who tends to be hyper-masculine. This belief that femininity and masculinity must align to the biological sex of an individual has been acknowledged byRead MoreEssay on Gender: Feminism and Masculinity1341 Words   |  6 Pages In a recent meta-analysis by Kite and Whitley in 1996, it was confirmed that men hold more negative attitudes toward homosexuality than do women. They also determined that mens attitudes toward homosexuality are particularly negative when the person being rated is a gay man rather than a lesbian. Their review of the literature also highlighted the complex nature of attitudes toward homosexuality noted by others. In order to understand the constructive attitudes of homosexuality, there are severalRead MoreRace, Class And Gender : Masculinity, Feminism, And Intersectionality887 Words   |  4 Pagesand gender through the viewpoints of three themes: Masculinity, Feminism, and Intersectionality. The topic of masculinity is one that every single man faces at some point in his life. The level of masculinity is dependent on how that individual was born and raised. At times, their level of masculinity is questioned and is forced to live with the positive and negatives of having too much or too low masculinity. Those that are high in masculinity are typically categorized as jocks and higher testosteroneRead MoreGender Roles And Issues Regarding Feminisms And Masculinity939 Words   |  4 Pagesvery crucial element in the American popular culture. What comes in mind when we talk about gender in the American popular culture so many questions go through the mind. The questions will go back to the gender roles and issues concerning feminisms and masculinity. One may question any advantage of being a male to a female because this is where stereotypes are arising especially in the American popular culture. Many scholars have written on gender and culture; most of the highlighted di scussions areRead MoreWomen s Role For Women1343 Words   |  6 Pagesassociated with men is called masculinity. Men have always felt superior to women while women are referred to as the weaker sex. Boys are raised up knowing that they are the stronger gender and that there are some tasks, which they can perform well than their female counterparts. The debate about equality for both genders has dominated the media over the years, from the times of feminism (the 1980s) to post feminism (Hokowhitu). In politics, the belief about masculinity is still a major issue thatRead MoreSocial Construction And Its Impact On Society Essay1578 Words   |  7 Pagesa society. In other words, this is when the value and meanings are tied to concepts such as feminity, masculinity, race, class and gender. Hence, this same values and meanings of such concepts change and impact the society we live in. Furthermore, the idea of a social construct is significant in many various ways. For example, social construct helps us understand about feminity and masculinity on a social platform to which society predict and attaches certain characteristics to both females andRead MoreFeminism And Its Effects On Women924 Words   |  4 PagesThe authors’ positions in feminism also changes how they suggest a man can and should use his male privilege, which affects the conversations and how feminism moves forward. As alluded to earlier, profeminist men understand and sympathize with women’s movement s and agree with their vision. Because they support feminism, Kimmel and Buchbinder educate and mobilize men to support feminism. They do this by addressing men and men’s movements while simultaneously pointing out the flaws and issues withinRead MoreEvasive Masculinity On Men s Lifestyle Magazines936 Words   |  4 PagesMen s lifestyle magazines are now argued to be an important locus and breeding ground for what has recently been dubbed new lad masculinity (Benwell, 2004, pp3). The second article this essay is going to explore is that by Benwell (2004) titled, Evasive masculinity in men s lifestyle magazines. By definition, new lad masculinity describes the rejection of the previously recognised new man ; a feminist concept which emerged in the nineteen eighties (Nixon, 2001). By this, BenwellRead MoreBeing A Man Is The Journey We All Take When Growing Up1393 Words   |  6 Pagesâ€Å"In the last ten years, a surprisingly large number of publications have focused on feminism and its historic evolution.† Feminism has been around since forever and there have been many changes in society due to the courage and protest of feminist all around the entire world. The history of feminist is very interesting and astonishing due to their dedication. Paragraph 1- In paragraph 12, Greer says, â€Å"Masculinity is a system. It is the complex of learned behaviors and subtly coded interactions that

The Case Of Estelle V. Gamble Essay - 1340 Words

There are many healthcare disparities through out a variety of populations in the United States. People face difficulties and disparities getting quality health care for many different reasons such as race, gender, sexual orientation, cultural beliefs and various other reasons. One population that has numerous health care issues and disparities is the incarcerated population. This population stood out to me because there is a mixture of all kinds of people (races, genders, age, etc.) living in close and often overcrowded spaces. This is a complex problem because not only is there a lot of diversity but also jails were not meant to accommodate everybody’s medical specific issues. If someone were to commit a minor crime and has an untreated health issue while in jail it could be very serious or even become a death sentence. Currently there are over 2.3 million people in American prisons and jails at any given point, but 11 million people a year will cycle through the system (Wagner, 2016). In the case of Estelle v. Gamble dating back to 1976, it was established that under the eight and fourteenth amendments a prisoner had rights to medical care. (Oyez, 2016) The term health disparity describes the differences in treatment and services of illness, disability, injury or mortality by a certain population (Artiga, 2016). Mental health, addiction, sexually transmitted diseases, communicable diseases and chronic conditions are all significant disparities that affect theShow MoreRelatedThe Ethics Of Human Being As Such And The Social Benefits Of Caring For The Health Care945 Words   |  4 Pagescourts held on inmates’ rights, this was the case. Prisoners did not have rights and considered, by some, slaves of the state. In 1871, the case of Ruffin v. Commonwealth illustrates this was the position taken by early courts and states that inmates have, â€Å"as a consequence of his crime, not only forfeited his liberty, but all his personal rights except those which the law in its humanity accords to him. He is for the time being the slave of the state (Ruffin v. Commonwealth, 1871).However today, theRead MoreAmnesty International : Violation Of Human Rights1175 Words   |  5 Pageseven die because of a lack of healthcare is cruel and inhumane. This behavior is not only contradictory to the ICCPR but also to the US constitution, as mentioned in a landmark case, Estelle v Gamble. Estelle v Gamble has a similar principle as the current situation with the immigrants, where a claimant brought a case all the way to the US Supreme Court since he claimed that the state failed to provide medical treatment while the claimant was imprisoned. During Estelle’s imprisonment, he claimedRead MoreThe United States Civil Rights3535 Words   |  15 Pagesthe name of Estelle Gamble. On November 8, 1973 a man by the name of J.W Gamble was an inmate of a prison in Texas, which who was performing a prison assignment and was severely injured while on the job. On February 11, 1974 the inmate decided to make a complaint about the treatment that he received prior to getting injured while performing a task. After taking this complaint to the board by submitting a Pro se, which is for one’s own behalf: in person appearing for oneself as in the case of one whoRead More DeShaney v. Winnebago County Department of Social Services (No. 87-154)1659 Words   |  7 Pages DeShaney v. Winnebago County was a landmark Supreme Court Case which was ruled on in February, 1989. The case revolved around Joshua DeShaney, a child who who was reportedly abused by his father, Randy DeShaney. In 1980, Joshuas parents divorced and his father won full custody. In 1983, Joshua was hospitalized for suspected abuse by his father. Winnebago County Department of Social Services got involved and four year old Joshua DeShaney was kept in the hospitals custody for three days.Read MoreThe Incarceration Of Prison Policy1418 Words   |  6 Pagessaliency of the of overcrowding does expand when we reach out to the sentencing on drugs, but drugs is the major aspect that makes it salient to the public. Before the 1960, we had the courts generally refusing cases involving prisoner’s conditions. Then a few years later, in 1963 the case Jones v. Cunningham, brought about writ of Habeas corpus for prisoners, which allowed them to fight the conditions of their imprisonment. At first it was very simple issues, such as the types of punishments that theRead MorePrison Overcrowding And California s Correctional System1651 Words   |  7 Pagesservices. These problems are not new to the correctional system for there was a cases that influence the movement for realignment, such as Plata Coleman v. Schwarzenegger, Madrid v. Gomez, Estelle v. Gamble, and Brown v. Plata. Overall, these cases had an issues with overcrowding and the violation of the eighth amendment for cruel and unusual punishment for having inadequate mental and health care assistance. Plata Coleman v. Schwarzenegger (2009) To deter crime in California, law makers create stricterRead MoreChief Mckinley And Field Training Officers922 Words   |  4 Pagesmost excessive force lawsuits, the officer is required to use higher levels of physical control measures and nonlethal force equipment (Ross 396). A prime example of use of force liability would be Estelle v. Gamble. In this particular case, officers and the city were held liable for beating Estelle and not attending to his medical needs (Ross 396). The city was found liable for insufficient use of force training--failure to train (Ross 396). It is imperative that all personnel have knowledgeRead MoreIs Gamble A Prison Inmate Injured? Essay2115 Words   |  9 Pagesunable to work yet denied any medical treatment? This happens to be the story of G.W. Gamble, a prison inmate injured while serving his prison sentence. In 1973 Gamble was unloading cotton bales from a truck in accordance with his prison labor assignment. During a routine shipment unloading, a â€Å"6.00 pound† cotton Bale (later determined to be 600 pounds, fell onto him, causing him to severely injured his back. Gamble struggled with pain for weeks continuously, visiting the doctor at every chance andRead MorePrisoner Rights1245 Words   |  5 Pageslitigation. Rights for prisoners can be a great benefit to the individual inmate should they choose to take advantage of them. While in the past, the system may have worked against inmates wanting to have their issues heard and a fair review of their case, the present era offers various courses of legal action for inmates to take. Prisoners are now able to speak out against cruel and unusual punishment. They can file lawsuits against prison guards for misconduct, as well as against other inmates, andRead More Investigative Psychology Essay1378 Words   |  6 Pagesparticipate in this particular subspecialty. An investigative psychologist maybe asked to perform a psychological autopsy, forensic hypnosis, or produce a geographical mapping. Psychological autopsies are generally performed in suspected suicide cases where the insurance company or family member questions the cause of death. Forensic hypnosis is an interview or interrogation method used by trained and credentialed professiona ls. Lastly, geographic mapping is a method of research â€Å"concerned with

Violence and Media

Question: Describe and evaluate research into the effects of watching media violence on children. Answer: Introduction: The term violence is not new to the society or the human race, it always has been an increasing and fast enhancing problem which has been a big hurdle in the path of growth for the human beings living in the modern society. With increasing access to the explosives and the firearms, the efficiency and the scope with regard to the violent behavior certainly have brought out many of the harsh as well as unexpected results and consequences (Krcmar and Kean, 2005). Since, year 1960s, it is researched and evident that the exposure of the violence in the movies, television, cell phones, video games, and which has been shown at the internet sites enhances the risk of some acute violent behaviour, which in actual is filled with violence enhances the risk of all of them to behave violently (Scharrer, 2006). Refer the present review of the research evidence in concern it is critically assessed, plus the theory which involves the psychology explains the reason as to why the exposure to the world ly violence has detrimental the serious and true effects for and on both of the longer as well as the short runs is elaborated. Thus, the basic size refers the media violence effect is carefully and is compared with the other kinds of famous and well-known dangers and threats to the present society (Scharrer, 2006). Major Effect of viewing violence in media: Effects on the behaviour : Many of the early research on the effects of viewing of the violence refer the telecast on the on television which especially is concerned and is among the children has found a comprehensive and very desensitizing effect plus the potential for the cause and result of the aggression. During the year 1982, (Savage, 2004) the National Institute of the ill and the Mental Health certification, found these major outcomes and vital effects of notifying the seeing the violence on TV: The Kids may as compared to others become much less sensitive refer the sufferings and the pain of other people. The kids may also be much more fearful refer the world which exists around them. The kids may be much more expected and likely to come out with a behaviour in the aggressive or the harmful manner toward all others people (O'Keeffe and Clarke-Pearson, 2011). The significant researches, it has been found that the kids who continuously come in front of acts of violence practically are used to watch such kinds of activities for long hours on TV tend to get attracted to such negative facts much more easily in comparison to the other kids of the society. They also tend to show much more expected acts of such kind when they turn to be adults. Such kinds of nature which they develop in themselves turn them to become a danger to the society and to their own families as well (Krcmar and Kean, 2005).They become use to the criminal acts and also their minds gets destructed and they least care about the results of suck kinds of acts. The fact is also very interesting that, being very aggressive in the childhood do not in actual sense predict the watching of more of the violent TV as an adult, which also suggests that the Television watching can also be one of the main cause rather than being considered a consequence of the matters of the aggressive behavior. Thus, the significant researchers by some of the most famous psychologists such as the Brad Bushman and the Douglas Gentile has given their views that the exposure of such kinds of kids to the media violence is merely one among all of the several factors which may also contribute to the matters which results for the behaviors which are aggressive (Savage, 2004). While some have the view that such a kind of the exposure to the violence which is shown at the TV can desensitize the human beings to violence in the actual world and also some of the people who continuously watch the violence tends to start enjoying it after a stage plus no kind of humanity is left in their hearts as a result of so. The Impact of Media Violence on Children and Adolescents: Available research literature has been very compelling that the exposure of the kids to such a kind of media violence certainly plays a vital role in the etiology of the violent nature and behavior. At times, this has been a real task so as to determine that children who have been since long witnessing, watching or experiencing media concerning violence are undoubtedly at the much greatest state of risk (O'Keeffe and Clarke-Pearson, 2011). In such conditions, there appears to be a comparatively much stronger bonding or the correlation between the TV violence and also the aggressive behavior and that too within the vulnerable "at risk" stage of the adultery. Some of the learned researchers have clearly demonstrated that the kids get attracted to wrong doing which they watch on TV very soon as they get attracted and also tend to perform such similar acts in their actual lives as well. Before the adolescent age of just 4, the kids are very much innocent and are not capable to make a difference between the good and the bad, in such an age they may watch such violent activities and may also not get attracted to it or may also not try to opt them in their lively hoods but after they cross the age of 4, they ae well able to distinguish between everything, and thus prompt care is required to be given at this stage (Savage, 2004). Most of the Heroes are shown as violent, and also they are rewarded for the violent nature at the end of the commercials and the movies, but in reality, such things also divert the minds of the kids to do some things which are required to be done only by experts and or under the expertise presence. Weapons carrying, cl imbing the straight walls, killing the enemies with weapons excites the kids and they also try to do such activities which may at some stages bring about any kind of bodily harm to themselves or the others (Zhang, Xiong and Tian, 2013). Kids often lose their innocence after they see all these kinds of explosive stuff, as the scenes thrill them and excites them to be also of such a kind. Conclusion: Thus the influence of media refers the psychosocial improvement or the development of the kids is a profound (Scharrer, 2006). So, it is vital for the physicians to carefully discuss with their seniors or parents, for the kids exposure to local media and also to give proper guidance on the appropriate viewing of the media. The (AAP) which stands for the American Academy of Pediatrics states and suggests that the physicians discuss openly with the parents of the concerned kids all about the extent and the nature of the viewing of programmes by the kids on the TV sets at their homes (Savage, 2004). Guardians are strictly required to definitely limit the viewing of the TV of the kids to a just maximum of 1-2 hours each day and the programmes which are seen are also required to be monitored carefully so that no wrong thought makes a home in their minds at all. Overall growth of the kids is very much dependent upon the fact which they see on the media channels and thus this is a serious matter and requires concern of the parents, teachers and other guardians of the kids. References Gentile, D., Saleem, M. and Anderson, C. (2007). Public Policy and the Effects of Media Violence on Children.Social Issues and Policy Review, 1(1), pp.15-61. Scharrer, E. (2006). "I Noticed More Violence:" The Effects of a Media Literacy Program on Critical Attitudes Toward Media Violence.Journal of Mass Media Ethics, 21(1), pp.69-86. Krcmar, M., and Kean, L. (2005). Uses and Gratifications of Media Violence: Personality Correlates of Viewing and Liking Violent Genres.Media Psychology, 7(4), pp.399-420. O'Keeffe, G., and Clarke-Pearson, K. (2011). The Impact of Social Media on Children, Adolescents, and Families.PEDIATRICS, 127(4), pp.800-804. Savage, J. (2004). Does viewing violent media really cause criminal violence? A methodological review.Aggression and Violent Behavior, 10(1), pp.99-128. Zhang, Q., Xiong, D. and Tian, J. (2013). Impact of media violence on aggressive attitude for adolescents.Health, 05(12), pp.2156-2161.