Civil War Causes And Consequences - 962 Words

CIVIL WAR – Causes and Consequences The word war in itself is a very unpleasant term signifying trauma, death and destruction. It is the epitome of human selfishness and cruelty. Ever since the existence has been known, people have been fighting against each other for various issues, ranging from small family matters to the huge international issues. Having said that, we need to keep in mind that every war needs a trigger that leads to a very devastating consequence once it ends. There have been myriad of wars in the human history and among those wars, one very noticeable war was the American Civil War fought between 12 April 1861 and 8 April 1864. It was a very important war in the history of America because it threatened the unity and the existence of America as United States of America, which was formed after a very hard and bloody revolution where thousands lot their lives and many more ended up being injured. Besides the human casualties, millions of dollars were spent by both the sides in their effort to emerge victorious in the war. Now the main question is, what made the people of America go against their own brothers and what did they get from all the blood that they shed for about four years? Firstly, the case of slavery is the foremost thing that comes to mind whenever the causes of civil war is discussed. Before the civil war there was a little bit of faction between the south and the north relating to the economic and slave issues. It started growing with theShow MoreRelatedAssess The Causes And Consequences Of The Civil War2481 Words   |  10 PagesAssess the causes and consequences of the civil war (49-45) in this period Civil war Argument in topic sentence The Roman Republic was a system of procedures formed by tradition; there was no written constitution or legally binding legislation. Precedent and consensus set procedure creating the parameters for acceptable behaviour. However, it was near the end of the 2nd century BC, where the system began to deteriorate and fall, ultimately causing the civil war in 49 BC. The boundaries of acceptableRead MoreMajor Causes And Consequences Of The American Civil War1443 Words   |  6 PagesEric Fung Mr. Ferretti APUSH 16 September 2015 1). Historical Causation (Cause and Effect): CE Explain the major causes and consequences of the American Civil War. In general, the American Civil War is thought to have started mostly because of a discrepancy on how to handle slavery. The difference in opinion is most likely a result of political, economic, and religious tension within the country. Before a civil war was even thought about, southern leaders spoke of freeing their slaves and manyRead MoreUs Civil War, Causes and Consequences Sophomore Us History2275 Words   |  10 PagesThe Civil War in America, Cause and Consequences The Civil War in the United States of America is one of the most frequently studied wars of any in American History. This terrible war put brothers from the North against brothers from the South and the result was both awful and catastrophic. When counting the dead and wounded on both sides, including the destruction of houses, farms, and the livelihood of people on both sides, the Civil War was the most terrible and bloodiest war in AmericanRead MoreThe American Civil War878 Words   |  4 PagesIntroduction A civil war is a prolonged high-intensity conflict between people, countries, or parties, which is usually barefaced and armed. Every war has its causes either acceptable or not and some are inevitable. Commonly, civil wars are between countries within a state. It results from one country aiming to make implementations on their governing policies or take control of certain areas within the state. 1Civil War refers to the American Civil War, which took place in the year 1861 to 1865Read MoreTime Line 21050 Words   |  5 Pagesabolitionist movement including: a) The effect of Uncle Tom’s Cabin b) The Kansas-Nebraska Act c) The Compromise of 1850 d) The Underground Railroad | 1800-1870 | a. a book that describes how slaves were treated that helped fuel the civil war.b. allowed people in the territories of Kansas and Nebraska to decide for themselves whether or not to allow slavery within their borders.c. the balance of power between slave and free states following American acquisition of new territory in theRead MoreReformation in Continental Europe and England and Its Consequences1611 Words   |  7 Pagesmedieval church, loss of papal authority and credibility as well as other societal, political and economical issues of the time. This revolution had a major impact on Europe and it gave way to short term and long-term consequences, which still can be seen today. There were many causes of Reformation, some go as far back as the fourteenth century. One of the main ones was that the papal authority and credibility were damaged. This was done through, Avignon papacy, - a time where the headquarters ofRead MoreIn What Way the African Americans Shaped the Course and Consequences of the Civil War? Confine Your Answer to the Years from 1861 and 1870.1038 Words   |  5 PagesIn what way the African Americans shaped the course and consequences of the Civil War? Confine your answer to the years from 1861 and 1870. Immediately after the election and inauguration of Abraham Lincoln, the newly-established Republican Party’s presidential nominee, eleven states of the South seceded from the Union. These events marked the beginning of the Civil War and the war was a result of many political tensions that had emerged between the North and the South in the prior decades, allRead MoreParallels Between The Syrian Civil War And Romeo And Juliet1197 Words   |  5 PagesEnglish honors 9 26 February 2017 Parallels between the Syrian Civil War and Romeo and Juliet When people say history repeats itself, they are not lying. A modern conflict in today’s world can relate to the events that happened in a play written in the 1500’s. The play, The Tragedy of Romeo and Juliet, by William Shakespeare, can relate to the ongoing Syrian Civil War. In both circumstances, people not anticipating the consequences of their actions made decisions. It resulted in devastating tragediesRead More Reformation in continental Europe and England and its consequences1616 Words   |  7 Pagesmedieval church, loss of papal authority and credibility as well as other societal, political and economical issues of the time. This revolution had a major impact on Europe and it gave way to short term and long-term consequences, which still can be seen today. There were many causes of Reformation, some go as far back as the fourteenth century. One of the main ones was that the papal authority and credibility were damaged. This was done through, Avignon papacy, - a time where the headquarters ofRead MoreThe War Of The Civil War964 Words   |  4 PagesThere wasn’t one sole cause of the Civil War but there were many events that took the country to war and put brother against brother and states against states. Abraham Lincoln wanted to preserve the union and that could only be attained by civil war. Slavery which was an underlying cause for the war played its role in the division that divided the North against the South. Ultimately the preservation of the union, slavery and the consequences and conflicts leading to the Civil War all rested on President

Frankenstein Compare And Contrast Essay - 2089 Words

Mary W. Shelley’s brilliant gothic story, Frankenstein, is one that emits the prevalent theme of light versus dark, in which possesses obvious characteristics of a novel written during the romantic era. The novel tells the account of the overambitious Victor Frankenstein, who created a monster in hopes that he’d be known for crafting something human from the body parts of corpses with physical and mental advantages in society, basically playing the part of God on Earth, but through the auspices of science. Instead of creating a â€Å"normal† human, his creation ended up being a disfigured creature who he then neglects. Upon his abandonment, the monster seeks revenge on Victor after being cast away by society due to harsh physiognomy in which†¦show more content†¦The monster believed that Victor would accept him, but after he realized that not only did Victor not want to assume his position in the monster’s life, but society also rejected him, it b ecame a transitory thought, and instead became replaced with his bloodthirst towards Victor and his loved ones, which he knew would hurt way worse than just killing him; making him lonely like himself. Both Victor and the monster partook in horrid acts, in which held horrendous actions; the main one being Victor creating the monster in the first place which in result caused the both of them heartbreak, loneliness, and pain. If Victor wouldn’t have created the monster, then his life would not be filled with so much grief and emptiness; Victor is the true monster, although they are both the primal protagonists as much as they are the antagonists because of the display of the emotions they both portray as lamenting humans/monsters, and the power they give to nature in order to destroy one another. Victor used nature to his advantage, although it was wrong; Victor used nature to create and destroy the monster; he used theShow MoreRelatedFrankenstein Compare/Contrast Essay922 Word s   |  4 PagesMaddie Mills October 19, 2010 CPBL, 5 Frank. Compare/Contrast Victor Frankenstein The novel Frankenstein was written by Mary Shelley in 1818. This gothic romance novel tells the story of a philosopher who discovered how to create life, without the full knowledge that his actions could cause grave consequences. Universal Studios made the film version of this novel in 1931. Unfortunately, the film version of Frankenstein has more differences than similarities to the novel. In the novel, Victor’sRead MoreWrite an Essay on the Relationship Between Frankenstein and the Creature, and Compare/Contrast Their Relationship with That Exhibited Between Two Other Characters in One Other Text.2328 Words   |  10 PagesThis essay will examine the relationship between two sets of characters in two different books. In Mary Shelleys’ Frankenstein the relationship between Victor Frankenstein and The Monster he created will be discussed, by analysing both characters relationship to each other before detailing the effects this relationship had, on the others actions and how it led to their eventual downfall. In Matthew Lewis’ The Monk the relationship between Ambrosio and Matilda will be analysed and then compared toRead MoreAnalysis Of Mary Shelley s Frankenstein And Caleb Williams 1168 Words   |  5 PagesIn A.D Harvey’s article â€Å"Frankenstein and Caleb Williams,† he explains that Mary Shelley’s famous work, Frankenstein; was not intended to be of any actual scientific evidence, but rather written just only with the intention of a gothic horror piece â€Å"we will each write a ghost story† (Frankenstein Author’s introduction vii). Harvey’s target is to reach out to the science community and to sway them to look past the mechanics of how Frankenstein’s monster is created and focus on other points of interestRead MoreThe Theme Of Fire And Ice In Frankenstein1243 Words   |  5 PagesIce is the antithesis to fire - while fire is life and change, ice is repression and death. The them e of fire and ice is commonly found in literature, often used to compare and contrast certain elements of written works. In the essay, â€Å"Fire and Ice in Frankenstein†, Andrew Griffin analyzes the components of Mary Shelley’s Frankenstein that contribute to the omnipresent theme of fire and ice in the text. Griffin provides many examples of the recurrent theme found in other works, such as Jane Eyre,Read MoreUnreliable Narrator1567 Words   |  7 Pagesneeds or justify their faults (Victor Frankenstein). In Frankenstein, Mary Shelley used unreliable narrators to tell the story, to make the readers question the truth told by different narrators and created a huge room of imagination to them. There are two narrator in Frankenstein were considered as unreliable, Robert Walton, an Arctic seafarer whose narrated his part with the letters for his sister in the beginning and the end of the story; Victor Frankenstein, a talented scientist created a monsterRead MoreSimilarities And Differences Between Frankenstein And Edward Scissorhands1247 Words   |  5 PagesFrankenstein and Edward Scissorhands Compare and Contrast Essay Frankenstein and Edward Scissorhand are both about two different creators creating their own kind of creatures, and the journey through the whole process and the life after creation. In both the novel and film we are able to compare different aspects of both the novel and film. Mary Shelley’s novel Frankenstein and Tim Burton’s film Edward Scissorhands have many similarities and differences starting from the desire of wanting to feelRead MoreCompare and contrast the Frankenstein novel and Coleridges rime of the ancient mariner in terms of narrative voice, theme and literary techniques1558 Words   |  7 PagesThe profound influence of Coleridges The Rime of the Ancyent Marinere is reflected in Shellys Frankenstein in terms of narrative structure, themes and literary techniques. This essay will compare and contrast the Frankenstein extract and the poem, The Rime of the Ancyent Marinere in three aspects, namely the narrating voice, the themes and the literary technique s used. In the Frankenstein passage, Victors creation, the creature, is the narrator. Here, a framed narrative is presentedRead MoreMary Shelleys Frankenstein Different Film Techniques Essay1849 Words   |  8 PagesMary Shelleys Frankenstein Different Film Techniques Compare and contrast the way in which the directors of Mary Shelleys Frankenstein (1994) and Frankenstein (1931) use different film techniques to build up atmosphere in their opening sequences: The two films I will be addressing in this essay are Kenneth Branaghs and James Whales versions of Frankenstein, a horror novel written by Mary Shelley in 1816, when the author was 19. The incentive for it wasRead MoreDogma Essay1688 Words   |  7 Pagesinspired us at an elemental level, to all this, has solid worth to offer in itself. In some cases, the conclusive resistance, a response to this accumulating decadence, to as stark of a contrast, works out in turn. As it stands, it’s not much of a strain on credulity to mull over how a text like Mary Shelley’s Frankenstein, in its principled form, would’ve taken for being productive of its influences which precisely tie to its outer narrative makeup. The time and place is still the Romantic Age’s heightRead MoreComparing William Shelley s Frankenstein Essay1421 Words   |  6 Pages1010 099 October 3, 2016 Mrs. Miller Project 1: Compare/Contrast Blood Sucking Romeo With Halloween being right around the corner, children are preparing for ABC’s â€Å"Thirteen Nights of Halloween,† parents are picking up pumpkins to celebrate the Celtic holiday, and the urge for a good horror story is emerging. The monster, such as vampires or zombies, is taking the spotlight and it’s hard to ignore. From Dante’s Inferno to Mary Shelley’s Frankenstein, being frightened has not only been one of people’s

Epitomes of Fantasy in the Bedford Essay Example For Students

Epitomes of Fantasy in the Bedford Essay Original symbols of beauty and objects of fantasy morph into disgust inducing forms in the shape of hands. Jumping head first into a loveless marriage with fantasies of everlasting love is the downfall of one marriage while a birthmark which was said to have added to the attraction becomes the decisive key to death in another. Both The Hand by Sidonie-Gabrielle Colette and The Birthmark by Nathaniel Hawthorne give voice to women who, in one form or another, encounter a hand that they originally admire but which all too soon after marriage becomes repulsive. Hands, marriage and male domination are all key factors within both stories. The young wife in Colettes story is introduced lying beside her husband, in cozy yet strangely different surroundings than in what she grew up. While he sleeps, she draws in her mind the details that are shaping and outlining their estranged marriage. Too happy to sleep (Bedford 259), she thinks to herself giddily. She feels a tremor go through the arm she lies upon and glances at the hand that the arm is attached to. Staring at it, multiple thoughts run through her mind and she becomes entranced by it, becoming speechless in its description and becoming frightened when an electric jolt ran through the hand (Bedford 260). The words begin to flow and the hand has now become vile and apelike. Hawthornes young wife, Georgina, is also fascinated with a hand, not of the physical form but as a birthmark upon her left cheek. It has been so often called a charm that I was simple enough to imagine it might be so (Bedford 402), she replies to her husband, Aylmer. The opinions and looks from Ay lmer eventually change Georginas perspective and she begins to hate the mark on her cheek: Not even Aylmer now hated it so much as she (Bedford 408). This transformation of views on a particular object going from like to dislike is one of the core similar elements in both stories. Both Colette and Hawthornes female characters are recently married to man whom they both think they love. For the young wife, her marriage is a change in environment and a dream-like state, though literal reality in this case, to a recently widowed man whose background she does not know. For Georgina, her marriage is to a scientist, well-known for his effective discoveries, and who initially loves her for her perfect looks. The young wife realizes through the monstrous hand that she has gotten herself into a bind that she could no longer escape, a marriage where love was not the deciding factor and the deciding factor becomes something she deeply regrets. Georgina becomes well aware of the disgust her husband has for the mark on her face and she suspects that the love that drove him to marry her was slowly losing the battle with the disgust that becomes clearly evident in his reactions upon seeing her face. Both marriages begin to deteriorate and in both cases, a night of deep observ ation was all it took. As the young wife has only known her husband for a month, she comes to a realization while staring down at his hand. Her fears pronounce awareness about her husbands hand: strong and in a disconnect way; it belongs to a man who exercises authority, possibly unjustly and oppressively. Colettes subtle use of the hand is beyond anatomical: it is the terminal part of the human arm used for holding and grasping, an instrument used for the good of humanity but also used to act out harshly and cruelly. The same theme of domination by a man appears in Hawthornes piece. Aylmers decision to remove Georginas birthmark becomes a solid verdict, one that Georgina cannot deny if she is ever to fully have her husbands love without his shudders of revulsion. His every reaction triggers her own disgust with her marred face and the need to become perfect for him leads her to make the final decision of drinking the concoction which he mixed to remove her mark from within. Yet this removal of natures fla w takes away her humanity and the critical reason was her husbands forceful-no matter how unintentional-method. .u27cbde155683ea973e51c19a087ea6b9 , .u27cbde155683ea973e51c19a087ea6b9 .postImageUrl , .u27cbde155683ea973e51c19a087ea6b9 .centered-text-area { min-height: 80px; position: relative; } .u27cbde155683ea973e51c19a087ea6b9 , .u27cbde155683ea973e51c19a087ea6b9:hover , .u27cbde155683ea973e51c19a087ea6b9:visited , .u27cbde155683ea973e51c19a087ea6b9:active { border:0!important; } .u27cbde155683ea973e51c19a087ea6b9 .clearfix:after { content: ""; display: table; clear: both; } .u27cbde155683ea973e51c19a087ea6b9 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u27cbde155683ea973e51c19a087ea6b9:active , .u27cbde155683ea973e51c19a087ea6b9:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u27cbde155683ea973e51c19a087ea6b9 .centered-text-area { width: 100%; position: relative ; } .u27cbde155683ea973e51c19a087ea6b9 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u27cbde155683ea973e51c19a087ea6b9 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u27cbde155683ea973e51c19a087ea6b9 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u27cbde155683ea973e51c19a087ea6b9:hover .ctaButton { background-color: #34495E!important; } .u27cbde155683ea973e51c19a087ea6b9 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u27cbde155683ea973e51c19a087ea6b9 .u27cbde155683ea973e51c19a087ea6b9-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u27cbde155683ea973e51c19a087ea6b9:after { content: ""; display: block; clear: both; } READ: To Kill a Mockingbird - Assignment - Theme of Prejudice EssayThe linking factor between Colettes piece and Hawthornes piece was a hand that, though initially harmless, became the decisive factor in ultimately failed marriages.

The Canadian Financial Reporting Environment Essay Example

The Canadian Financial Reporting Environment Paper Skies, Wesleyan, Warfield, Young, Wicked. Uncommon Intermediate Accounting, Tenth Canadian Edition CHAPTER 1 THE CANADIAN FINANCIAL REPORTING ENVIRONMENT ASSIGNMENT CLASSIFICATION TABLE Topic Brief Exercises Writing Assignments Financial statements and financial reporting. Capital allocation. Stakeholders. Objectives of financial reporting. Management bias in financial reporting. Importance of user needs in financial reporting. Need for accounting standards. Parties involved in standard-setting. 8, 9, 10, 11, 12, 13, 14, 15 16, 17, 18 Professional judgment. 9,20 Ethical issues, 21, 22, 23 Challenges facing financial accounting 20, 24, 25 Information Asymmetry Solutions Manual Chapter 1 Copyright C 2013 John Wiley Sons Canada, Ltd. We will write a custom essay sample on The Canadian Financial Reporting Environment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Canadian Financial Reporting Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Canadian Financial Reporting Environment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Unauthorized copying, distribution, or transmission of this page is strictly prohibited. Skies, Wesleyan, Warfield, Young, Wicked, Uncommon See the Case Primer on the Student Website as well as the summary case primer in the front of the text. Note that the first few chapters of the text lay the foundation for financial reporting decision-making. Therefore the cases in the first few chapters (1-5) are shorter with less depth, As such, they may not cover al aspects of a full-blown case analysis. CA 1-1 PHOBIC Overview: Reported net income a key focus for management represents a reporting bias. Controller (Paula) is concerned about doing the right thing -? not just doing what is required under GAP. Analysis and Recommendation: GAP constrained companies must adopt new standards as prescribed in the CIA Handbook (publicly accountable entities follow FIRS Which is included as Part to the CIA Handbook and private entities follow ASPS which is Part II to the CIA Handbook). Normally the standard setters give companies some lead mime so that they may ensure that they have all the appropriate information needed to present the information. Thus they are not required to change to a new standard until GAP requires it (the date is written into each standard). The issue is whether to adopt a change earlier even though not required or later when required. Adopt new standard as required GAP requirements are met. Need additional time to ensure that the company has all the information needed to prepare the financial Statements under the new standard i. E. o ensure reliable. Other. Adopt new standard earlier than required Provides greater comparability between years earlier if adopted earlier. If this is the better presentation, why not share it with users as soon as possible. Consideration of the impact on net income should not be a motivator for making the financial reporting decision (unbiased). Other. 1-2 CA 1-1 PHOBIC (CONTINUED) In conclusion, earlier adoption of the standard is always encouraged and should be attempted where the costs of doing so do not exceed the benefits. Chapter I Copyright @ 2013 John Wiley Sons Canada, Ltd. Unauthorized copying, Skies, Wesleyan, Warfield, Young, Wicked, Uncommonly CA 1-2 BOSTON CLOTHING LIMITED Overview When the company went public, APRS became a legal constraint. The company was in the retail sales business and was struggling to maintain financial solvency. It had hired new management to turn the company around -? they may have had an interest in showing the company in a better light than in reality. When it went public, the company appeared as though it had turned a corner (presumably thanks to the new management team). Thus the shares sold at $15 per share. Note that the selling price would consider sustainable earnings. Subsequently, after going public, the company could not sustain its earnings and the share price dropped.Many shareholders lost their investments. Â  Stakeholders included: 1. The investors and potential investors who relied on the financial statements in deciding whether to invest or not, They would have been influenced by the net income as well as cash trot operations as presented in the notes to the financial statements. 2. The management and prior owners of the company since the company was private, the prior owners stood to gain because of the higher share price at the time they took the company public. They would not have been affected by subsequent stock price declines once they had sold their share of the business 3. The auditors the auditors signed off on the statements that the investors would have relied on in making their They would have provided assurance that the financial statements presented fairly the results of operations. Subsequently, investors would be able to sue the auditors successfully if they could prove that the information was misleading. 4. Other-?creditors, customers, etc. N. B. Since there are no financial reporting issues (i. E. Leaning with recognition, assortment, presentation or disclosure) the analysis and recommendations section of this solution is not presented. CA 1-3 GRAND LIMITED The impact of a negative rating on Grand is that the company may have a more difficult time borrowing funds and will have to pay a higher rate of interest on such funds if obtained. The rating reflects the perceived financial strength of the company and the lower rating means that the companys fiscal responsibility may be in question. This may affect the companys longer outlook and ability to carry out long-term contracts requiring long-term financing. The fact that Grands bonds now have the status of junk bonds means that the number Of institutional investors interested in Grand Will be much lower since their rating has fallen below the level acceptable for many pensions and mutual funds. Junk bonds are considered speculative investments and are attractive only to those investors seeking higher returns and who are willing to take on the increased default risk associated with bonds in this category. Are the credit rating agencies stakeholders? Yes they rate companies in terms of credit risk and therefore their customers rely on them for accurate and well searched credit ratings. They would not necessarily give a credit rating lightly without doing the proper research. If they are wrong, their own business and reputation will suffer. Knowing that a credit rating agency Will be rating their debt, Grand would be biased to make sure that they obtain the best rating possible. Since the financial statements will be used by the rating agency to rate the company, there is a risk that the financial statements might paint the company in a more favorable light. Are the credit rating agencies stakeholders? Yes they rate companies in terms of credit risk and therefore their customers Ely on them for accurate and well researched credit ratings. They would not necessarily give a credit rating lightly without doing the proper research. If they are wrong, their own business and reputation will suffer. Knowing that a credit rating agency will be rating their debt, Quebec would be biased to make sure that they obtain the best rating possible Since the financial statements will be used by the rating agency to rate the company, there is a risk that the financial statements might paint the company in a more favorable light. Copyright 2013 John Wiley Canada, Ltd. Unauthorized copying, striation, or transmission Of this page is strictly prohibited. TIME AND PURPOSE OF WRITING ASSIGNMENTS WA 1-1 (Time 15-20 minutes) Purpose-?to provide the student with an opportunity to evaluate the viewpoint of removing mandatory accounting standards and allowing each company to voluntarily disclose the information it desired. WA 1-2 (Time 3040 minutes) Purpose-?to provide the student With an opportunity to discuss the pros and cons of the plasticization of standard-setting, the impact accounting has on the environment, and the environments influence on accounting. WA 1-3 Purpose-?to provide the student with an opportunity to focus on the type of standard-setting environment exists in Canada. In addition, this case explores why user groups are interested in the nature of financial reporting standards and why some groups wish to issue their own standards. WA 1 _4 (Time IS-AS minutes) Purpose-?to provide the student with an opportunity to discuss the pros and cons of a continuous reporting model. WA I-s Purpose-to provide the student with an opportunity to discuss the Nortek company failures and the role of their auditors in issuing clean audit opinions. WA 1-6 (Time 20-30 minutes) Purpose-?to provide the student with an opportunity to discuss the steps taken to increase government regulation in the capital marketplace as a result of the recent corporate failures. The student must also discuss the strengths and weaknesses of government regulation. 1-6 TIME AND PURPOSE OF WRITING ASSIGNMENTS (CONTAIN WED) WA 1-8 (Time 30-35 minutes) Purpose to provide the student With an opportunity to discuss the reasons Why Canada decided to adopt a two-tiered system one for private companies and one for public companies. The student must also discuss the pros and cons of this type of system. WA 18 Purpose to provide the student with an opportunity to consider how management may be bias in terms of the information they share with the public, and how the asymmetry of information may impact users decisions. WA 1-10 Purpose to provide the student with an opportunity to consider the ethical dilemma of judgmental decisions with financial reporting and evaluate the potential consequences of those decisions. WA 1-11 (Time 5-10 minutes) Purpose to provide the student With an opportunity to consider the integrated reporting initiative and the impact it would have on various users of financial WA 1-12 Purpose to provide the student with an opportunity to investigate and compare the funding for Sacs/FAST and comment on the funding principals of each. Students are asked to comment on what impact the principals have and the potential issues if they did not exist. SOLUTIONS TO WRITING ASSIGNMENTS It is not appropriate to abandon mandatory accounting standards and allow each company to voluntarily disclose the type Of information it considers important. Without a coherent body of accounting theory and standards, each accountant or enterprise would have to develop its own theory structure and set of practices, ND readers of financial statements would have to familiarize themselves with every companys own accounting and reporting practices. As a result, it would be almost impossible to prepare statements that could be compared and there would be a tremendous waste of resources in both preparation and in analysis Further, GAP has been set by standard setters to help with the preparation to financial statements and to help reduce management bias. A single set of general-purpose financial statements is prepared to meet the majority of users needs. In addition, voluntary disclosure may not be an efficient way of disseminating information. Some companies will be likely to disclose less information if given the discretion, Thus, companies can reduce the cost of assembling and disseminating information. However, an investor wishing additional information has to pay to receive the desired additional information. Different investors may be interested in different types of information. Since the company may not be equipped to provide the requested information, it would have to spend additional resources to fulfill such needs; or the company may refuse to supply such information if it is too costly to do so. As a result, investors may not get the desired information or they may have to pay a significant amount of money for it. Furthermore, redundancy in gathering and distributing information occurs when different investors ask for the same information at different points of time. To the society as a Whole, this would not be an efficient way Of utilizing resources. Note that a contrary argument to companies providing less disclosure is set out in the competitive disclosure hypothesis Which suggests that companies in competition for scarce capital resources will actively increase their disclosure o reduce their perceived risk and therefore reduce their cost of capital and increase their access to investors. Copyright @ 2013 John Wiley Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited. A) Arguments for plasticization of the accounting rule-making process: 1. Accounting standards and financial reporting depend in large part on public confidence for its success. Consequently, the critical issues are not solely technical, so all those having a bona fide interest in the output Of accounting should have some influence on that output. In fact, all stakeholders can moment on proposed changes and new standards through the due process that standard setting entails. 2. There are numerous conflicts between various interest groups. In the face of this, compromise is necessary, particularly since many of the critical issues in accounting are value judgments, not the type that can be solved, as we have traditionally assumed, using deterministic models. Only in this way (reasonable compromise) Will the financial community have confidence in the fairness and objectivity of the accounting standard setting process. 3. Over the years, accountants have been unable to establish, on the basis f technical accounting elements, rules which would bring about the desired uniformity and acceptability.