Friday, December 27, 2019
According to the Oxford Dictionary, Ã¢â¬Å"Mothers are women who inhabit or perform the role of bearing some relation to their childrenÃ¢â¬ (1). Although various circumstances can arise, a mother may or may not be the biological parent of the youngsters. Adult females can be considered mothers because of having given birth, by nurturing their children, supplying their ovum for fertilization, or some combination thereof. For example, Suleyma Umana, a single female at the age of eighteen migrated from her native country of El Salvador to the United States in search of a better lifestyle. Once Suleyma arrived in the United States, she came across a young man named Francisco. In addition, the two-loving individuals decided to construct a house for the future children to come. Throughout the years, the couple decided to have four brilliant children named Steven, Michael, Jason, and Christopher. Suleyma Umana, currently a stay-home mother of the Umana family, strikes on the substantial responsibility of establishing a united family by setting fundamental values, enlightening vocational activities, and examining past experiences. Since childhood, Suleyma always thought it was important to incorporate several positive beliefs and values into the Umana family. The teachings the children perceive in their own home can result in positive and negative effects. Additionally, the education Suleyma received as a child largely influenced the character and personality as a grown-woman and as aShow MoreRelatedIs Abortion Unjust And Should Not Stand As A Legal Action?962 Words Ã |Ã 4 PagesThe fight for the right to life is not the cause of a special few, but the cause of every man, woman and child who cares not only about his or her own family, but the whole family of man.Ã¢â¬ This quote was said by Dr. Mildred Jefferson. Many women unexpectedly become pregnant and do not know what to do next. Many of them regretfully choose abortion. To destroy the life of a human bein g is murderous and there is no reason for a doctor to take a life away rather than to save it. Life was never intendedRead MoreFamily Abuse And Child Abuse892 Words Ã |Ã 4 PagesWe have all heard the saying Ã¢â¬Å"Home sweet homeÃ¢â¬ or Ã¢â¬Å"Home is where the heart is.Ã¢â¬ Unfortunately for numerous people, especially women and children, home is anything but a safe haven. In our society spouse abuse, elderly abuse and child abuse is a major family-related social issue. Family abuse comes in many forms, physical violence, sexual violence and psychological and emotional abuse. Nonetheless, family violence is not unusual, perhaps this reason is because nuclear families devote to spend so muchRead MoreGender Stratification in the Workplace1147 Words Ã |Ã 5 Pagesperformance expectations, isolation, and limited opportunities for promotion (352). Researchers have shown that women in a male-dominated workplace suffer from what has been called token status. A token female empl oyees high visibility often increases the pressure to perform at levels above their male peers, their isolation as male employees exaggerate the differences between men and women, and stereotyping which tends to limit opportunities for advancement. By contrast, men seem to benefit on severalRead MoreEssay about YaegerÃ¢â¬â¢s Critique of ChopinÃ¢â¬â¢s The Awakening1003 Words Ã |Ã 5 Pagesby framing female desire within Ã¢â¬Å"an elaborate code [of moral conduct] that has already been negotiated by her society.Ã¢â¬ A reading of The Awakening that can envision only two possible outcomes for its heroine Ã¢â¬â acquiescence to her role as good wife/mother or Ã¢â¬Å"liberationÃ¢â¬ from the marriage sphere through extramarital passion Ã¢â¬â suffers from the same suffocating lack of imagination that characterizes the most conventional romance tale. Thus, Yaeger contends, Edna PontellierÃ¢â¬â¢s extramarital dalliances withRead MoreAnalysis of BrontÃ «s Villette1551 Words Ã |Ã 7 Pagesto speak French, Lucy is isolated in the bustling, strange world of foreign Catholics, under the supervision of a woman who silently patrols her school and searches its inmates possessions. Lucy is appalled by this womans world of well-tended but lazy, cunning females, and to some extent she keeps herself separate from that world. She is however also attracted to these women, who represent dimensions of Lucys own characteristics and desiresÃ¢â¬âMadame Beck with her independence and authority, PaulinaRead MorePhysical Body And Genitali The Biological Perspective1452 Words Ã |Ã 6 PagesdoctorÃ¢â¬â¢s interpretation of what the childÃ¢â¬â¢s sex should be. This perspective is really the scientific communityÃ¢â¬â¢s first attempt in understanding sex and gender and how it affects everyoneÃ¢â¬â¢s lives. There wasnÃ¢â¬â¢t much evidence or research of people who did not fit within the gender binary for scientists to reference, which resulted in their simplistic understanding. It has definitely informed all the perspectives that came after it and provided a platform of basic knowledge for people to start withRead MoreAbortion is Immoral Essay1518 Words Ã |Ã 7 Pageswoman carrying the child. Others are Pro Life, and say that abortion is unethical and is considered as a form of homicide. All depending on oneÃ¢â¬â¢s human dignity, the argument differs. Human dignity is the sense of self-worth and self-respect that one inhabits. With this being said, the way one feels about themselves as a human-being, as well as other human-beings, has an effect on oneÃ¢â¬â¢s outlook on abortion. Although there is a current controversy regarding the topic of abortion, whether the argument beRead MoreGrowing Up Where, No One Looked Like Me, : Gender, Race, Hip Hop And Identity Essay1729 Words Ã |Ã 7 PagesIn the article, Growing Up Where Ã¢â¬Å"No One Looked Like MeÃ¢â¬ : Gender, Race, Hip Hop and Identity in Vancouver Canada, author Gillian Creese examines the dimensions of gender and racialization, this study exemplifies how African-Canadian men and women are constantly faced and conflicted with identity issues. The study conducted interviews with second generation African-Canadians, ages nineteen to thirties. Participants were asked to recall moments from their childhood, in particularly their adolescenceRead MoreLocal Indigenous Australian People Of The Land On Which The Student Lives / Works / Or Studies?1234 Words Ã |Ã 5 Pageshave suffered through many crises, when the British colonised Australia in 1788. Many Aboriginal people from different cultures died at hands of British colonial. There were not a lot of Aboriginal people in Australia in 19th century. Mostly, they inhabit in NSW, Queensland and Victoria. There are many cultures in NSW, one of the oldest culture in Sydney is the Darug, they are the traditional owners of Western and south Western areas of Sydney. The Darug nation is large in size and boasts many clansRead MoreThe Church Of The Brethren2100 Words Ã |Ã 9 Pageslove by which God creates and nurtures human life (1984). This is the Church of Brethren s official position concerning abortion. They feel they are responsible for the children who are unwanted. They believe in various alternatives to abortion for the people in their community. They still will love and support those who believe that eliminating a child from their womb is the correct thing. Opposing abortion falls in favor with the majority of the Church of the Brethren. However, meetings are held
Thursday, December 19, 2019
Sometimes I wonder why tragic things happen and if itÃ¢â¬â¢s a part of GodÃ¢â¬â¢s plan. My faith teaches me that God wants us to be in good health, even as our soul prospers in 3 John 2, (KJV, 1994). When I see events like 911, Hurricane Katrina, the Tsunami and the Haiti Earthquake I sometimes wonder why these things have to happen. I know that I can not blame God because some things are man made. Everyone suffers at some point in our lives, whether itÃ¢â¬â¢s a divorce, cancer, an accident, a disability or a homicide we all have pain. The bible tells us God causes all things to work together for good for those that love Him and are called according to His purpose in Romans 8:28 (KJV, 1994). That suggests that some of the tragic events mustÃ¢â¬ ¦show more contentÃ¢â¬ ¦My grandmother was the rock of our family and she kept everyone together with our folklore and old remedies. She taught me how to pray and communicate with God and after she died I thought that I had lost my con nection with God. The thing that got me going was remembering her voice saying Ã¢â¬Å"NeteÃ¢â¬ you have to develop your own personal relationship with God. So I began my personal and intimate relationship with him and over the years things began to get a little easier, even though I still miss her and wish she was here (Elnita Thacker, 2011). During the ugliest times in this countryÃ¢â¬â¢s history slaves had to cling to their religion and prayer to make it through. Africans had a great faith in God and believed that he would see them through all the rapes, beatings, drowning, hangings, murders and any other inhumane acts of cruelty. Fredrick Douglas spoke about how slaves were to depend on God who sent a Ã¢â¬Å"RedeemerÃ¢â¬ to set the captive free as it says in Luke 4:18, Ã¢â¬Å"The Spirit of the Lord is on me, because he has anointed me to preach good news to the poor. He has sent me to proclaim freedom for the prisoners and recovery of sight for the blind, to release the o ppressedÃ¢â¬ . The slaves believed that they had to suffer oppression to abide by the worlds of the bible. They thought that they had gone against their masterÃ¢â¬â¢s will as it says in Luke 12:47, He that knoweth his masters will and doeth it not, shall be beaten withShow MoreRelatedBible Study on Romans 1:1-71309 Words Ã |Ã 5 PagesJesus was raised from the dead, he was declared the Son of God in power. Through Jesus Christ we have received grace and apostleship to bring about obedience of faith in his name. Jesus loves all of us and calls us to himself. Response I learned from this passage that Jesus loves each and everyone one of us. I know he is our savior because he fulfilled an Old Testament prophecy that no other person could achieve. I can apply this passage to my life by spreading the word to others just as Paul did toRead MoreKierkegaards Fear And Trembling Essay1650 Words Ã |Ã 7 PagesKierkegaards Fear and Trembling What is a human person? How do human beings relate to God? Who am I? Why do I exist? I. Soeren Kierkegaard, a famous theologian of the 19th Century, wrote Fear and Trembling in 1843 in response to Hegelianism. Kierkegaard takes on the pseudonymous role of Jonannes de Silentio and speaks on modern peoples attitudes toward doubt and faith. He believes humans are creatures entrenched in reason and doubt but not in the same sense as Descartes, a French mathematicianRead MoreWorldview Essay1313 Words Ã |Ã 6 Pagesof beliefs that shape what we do on a daily basis and forms our overall view on life. When I look at my beliefs critically, I am able to see my worldview and see how it compares to different worldviews, but also how it compares mainly to the Christian Worldview. My view of God is very similar to the non-denomination Christian Worldview. I believe that God is an omnipotent Trinity of Father, Son, and Holy Spirit that oversees the entire universe. I believe that God created everything in his imageRead MoreThe Eclipse Of God And The Need For The Jews1680 Words Ã |Ã 7 Pages The eclipse of God and the need for the Jews to prove their faith in God stands out as another key response by the Jews. According to Jewish theologians, there are times in the history of religion that God had adamantly refused to show his face to the world. In the Holocaust context, the Jewish theologians argue that God was intentionally absent during this period to test the Jewish and their endurance through suffering. Admittedly, this premise is particularly complex because a section of the theologiansRead MoreMy Paper On Job Life1687 Words Ã |Ã 7 Pagesand focus on God in these moments because the pain can outweigh the prize. I decided to do my paper on Job because I find Job s life similar to mine. There is times in my life that I donÃ¢â¬â¢t understand what God is doing, times I ve asked what I ve done to deserve the suffering and the weight of catastrophes in life. Job is inspirational in these moments because he encourages the understanding that God s power is so great, n o person can justify his ways. Job taught me to trust God despite what weRead MoreArticle Analysis : Aquinas For Armchair Theologians Essay1349 Words Ã |Ã 6 Pagesdifferent topics of God vs. Satan, and why God has not all the answers, and powers when making sure every human being should not face evil. Aquinas believed that Christians needed to view their basic beliefs in another way to make sense of their own faith when questioning all that God did for each individual. The real question to all this, which a lot of people even question today is Ã¢â¬Å"Why is their evil in the World?Ã¢â¬ Well unfortunately some believe their (omnipotent) God has all the answers and knowsRead MoreEssay on Mary Mackillop1628 Words Ã |Ã 7 Pagesout of 8 and spent most of her childhood years looking after and acting like a second mother to her siblings. The MacKillop family were quite poor so at the young age of 14, Mary got herself a job as a governess and as teacher at a Portland school. All the money Mary earned went towards her families everyday living. While working as a governess, Mary met Father Julian Tension Woods. By the time Mary had reached the age of 15 she had decided that she wanted to be a nun. She also wanted to devote herRead MoreThe Existence Of Evil : Evil1451 Words Ã |Ã 6 Pagesacknowledge that evil is all around us. By simply turning on the news, we are immediately bombarded with reports of violent murders, dangerous storms, robberies and a new dangerous disease affecting half of the countries in the world. There is no denying that people suffer because we ha ve experienced pain and suffering ourselves. At one point or another in our lives, we are confronted by the existence of evil. With this confrontation, we are subjected to the many theories of why and how evil exists. We questionRead MoreHow Does The Justice Of God Fit With The Love? Essay800 Words Ã |Ã 4 Pages How could a loving God send people to Hell? If God is so good than why do bad things happen to good people? These are some of the questions that cause most people to stay away from the Christian faith. People donÃ¢â¬â¢t want to worship God because they have no respect for Him. But have you ever wondered why do good things happen to bad people? Or better yet, how does the justice of God fit with the love of God? Content Theodicy is the defense of GodÃ¢â¬â¢s goodness and omnipotence in the view of evilRead MoreChristianity And Judaism : Christianity Vs. Judaism Essay1706 Words Ã |Ã 7 PagesComparing how these two religions justify the nature of human existence and nature of God; human suffering; and the afterlife will highlight these differences. In addition, each religionÃ¢â¬â¢s view of the major holidays, and how they interact peacefully with other religions are also important distinctions. Christianity and Judaism have some differences on the belief of nature and purpose of human existence. Christians, believe we were created good but because of original sin, we tend to do morally wrong
Wednesday, December 11, 2019
Question: Discuss about the Lehman Brothers Incorporation Limited. Answer: Lehman Brothers-Background and Success Story Lehman Brothers is an incorporation having its welcome prints in the year 1850. It was founded by Henry Lehman, a German immigrant, in 1844. The business was started as a small store providing small items of necessity like utensils, grocery items, goods etc. Six years later, the business was joined by Emanuel Lehman and Mayer Lehman, and the three Lehman Brothers started working as a common entity in the year 1850 and named the business Lehman Brothers.(Fineman, 2008) The firm played a major role in the upliftment of cotton and coffee market. It also accepted an offer to work as Governments agent for dealing in commodities market. Till the end of 19th Century, Lehman Brothers found its core business area and had begun to conquer the market as a leading and emerging business tycoon. In the beginning of 20th Century, the firm had its partnerships and MOUs with many companies like Sears, Roebuck co., Woolworth co., Gimbel Brothers Inc., May Department Store and RH Mary co.(Adu-Gyamfi, 2015). These partnerships could evident the interest of Lehman Brothers in the upliftment of retail business. Steadily but not slowly, Lehman Brothers started showing its mastery in the stock and commodities market. The introduction of Private Placement is the gift of Lehman Brothers. This was as a result of a great downfall in the stock market during the Great Depression of 1929. Lehman Brothers started the concept of privately placing the shares to the relatives, companies etc. This concept proved very helpful in boosting the value of the business in global market. Lehman Brothers marked its footprints in the Investment Banking in the year 1994 by opening several offices and recruiting various employees. The firm also merged with the fourth largest Investment Bank of the time-Kuhn Loeb Co. The market was introduced with another major merger of the time which was the merger of E.F. Hutton co. with Shearson Lehman which proved very helpful in the formation of Lehman Brothers Investment Bank. The result was due to failure of the merger of E.F. Hutton co. with Shearson Lehman. The Investment banking business was named Lehman Brothers Incorporation Limited and it had its IPO in 1994. (Adu-Gyamfi, 2015) The firms major revenue generating source was mortgage backed securities. It initiated its major business in subprime mortgage market. Subprime Mortgage Securities are the securities having low credit worthiness and therefore an individual doesnt get credit on the basis of these securities. Lehman Brothers started providing credit on the basis of these securities. Though, the business was very risky but it had huge revenue generating capacities which taken the firm to new levels of success. In 2007, the firm became the leading underwriter of mortgage securities and a leader in stock market as well. Collapse of Lehman Brothers and Global Financial Crisis The major reasons for collapse of Lehman Brothers could be categorized into four major parts. First reason was a downfall in the housing prices. Lehman Brothers had its major investment in subprime mortgage securities. Subprime Mortgage securities have low credit worthiness and these securities contribute the major part of the assets of the Lehman business. Due to overinvestment in such risky securities, the business earned huge revenues initially but had its huge downfall also since the housing prices had a great decline. The overall downfall in the economic market was the reason for such heavy downfall in the housing prices. The value of the assets of the business fell sharply and the business debt to assets ratio started increasing crossing the highest ratio acceptable by the American Government. There were several other financing institutions which crossed the highest debt to assets ratio acceptable by American Government and Lehman business was one of them. Second reason was the investment in Repo105 and Repo108 securities. Repo105 meant lending cash by mortgage of securities having value more than 5% of the credit extended and Repo108 meant lending cash by mortgage of securities having value more than 8% of the credit extended. This decision was very judicious on the part of the financial officers of the business as Repo securities extended credit to credit worthy clients only and the securities taken from the clients were able to generate enough cash to compensate any failure. Though, the decision was a prudent one considering the situation of market but the shortfall was in the treatment of the securities. Lehman Brothers treated the securities received during Repo transaction as sales and used cash to discharge the liabilities. The Repo securities were used to window dress the financial position of the business in the market. The third reason is the incapability of the managers to oversee the future conditions and inefficient risk management strategies. The CEO of Lehman Brothers at the time of its bankruptcy had earned billions of dollars from the business but could not nurture the growth and prosperity. The CFO and CEO are mainly responsible to oversee the future potential of a business and to recommend preventive and corrective actions so that the future inefficiencies could be overcome. The bankruptcy had led to retrenchment of a number of employees who lost their source of earning and living. The firm could have provided proper and regular methods to the employees so that they could make themselves prepared for the worst outcomes. They were the most innocent people who had to bear the foolishness of some handful of senior employees. The auditors on the other hand were also ignorant about the financial repercussions of the activities undertaken by the business to make its financial position look bette r to the stakeholders. The audit work, despite of being in hands of such efficient and reputed audit firm could not fulfill its responsibilities. The fourth and the last reason which finally resulted in the bankruptcy of Lehman Brothers Incorporation Limited was the lack of support from American Government. Initially, the Korea Development Bank agreed to take over the business but it could not be materialized due to some problems with the regulators. Again, Barclays Bank agreed for a take-over but it was disapproved by the US government which eventually marked an end of Lehman Brothers. Global Financial Crisis The firms collapse had a major impact on the prices of global stock market indices. There was worldwide devastating effect on the bankruptcy and this phenomenon had been marked as one of the biggest downfalls in the stock market. After the filing of bankruptcy by the Lehman brothers, The Reserve Primary Fund, which was considered one of the largest money market mutual funds, lost its share price. This phenomenon was referred as Breaking the Buck.(Tymkiw, 2012). Apart from that, above 75 such administration cases were recorded. There were a number of such studies which reveal the condition of market after the collapse of Lehman Brothers.(Ranjeen, 2015). No market was left untouched by the devastation. The US market, the Chinese market etc. were adversely affected. One such instance supporting the statement was shown by the 4.4% drop of New York Dow Jones Industrial Average. This was the largest drop of that time (Duncan, 2012). The European market was also part of same. There was 3.92 % fall in FTSE Index, 3.78% fall in Paris CAC and 3.6% fall in NASDAQ Composite. These all recorded the biggest fall in the market after the 2001 attack in US. Even the Asian countries were not left. Major countries like India, Taiwan, and Singapore etc. witnessed constant declines in stock and commodities market. Further, Japan, Hongkong and South Korea faced biggest fall of their histories. (Adu-Gyamfi, 2015) All the above mentioned events show that the collapse of Lehman Brothers was not a failure of single company or a single market or a single countrys economy. This failure was a massive failure of the overall investment market which could be witnessed worldwide. The effect of such failure took a number of years to vanish from the market. The big businessmen especially the Investment Bankers started taking the adherence policies of their Governments too seriously. The Auditors responsibilities took a major turning point. In the Lehmans case, the auditors were seriously accused of their gross ignorance and lack of due diligence and prudence. The auditors are expected to perform their services according to the prescribed standards of work and they cannot change their actions from the quality standards prescribed by various regulatory and administrative boards. The senior employees also held an important role in the failure of Lehman Brothers. The employees and workers of any company is r esponsible for the upliftment of the companys status. The foolish behavior of workers and short sightedness of senior employees could lead to a dangerous result to a company. The roles of employees were increased by enactment of various Corporate Governance measures. Thus, a global impact was witnessed by the world due to failure of a handful of people. Auditors role and responsibilities The auditors roles and liabilities are mentioned in the International Standards on Auditing (ISA) by the International Auditing and Assurance Board (IAASB). These standards set a framework of work by the auditors while performing audit and assurance services to their clients. The auditors are the watchdogs of the business concerns. They are expected to provide their opinion on the financial prudency as well as competencies of a business. The centre work of an auditor is to provide an unbiased opinion on the financial statements of the business and to assure the stakeholders regarding full disclosure of all material transactions. The Lehman Brothers Incorporation limited was audited by Ernst and Young, a reputed audit firm having global recognition. Ernst and Young is considered one of the Big Four Audit firms all over the world. Having recorded its perfection in various audit work various time, this audit firm underperformed in the Lehman Brothers case. The shortcomings of Lehmans business were not even pointed out by such an expert audit firm. There were many audit inefficiencies like the treatment of Repo transactions should have been bought to the notice of stakeholders by the auditors and the auditors should have qualified their report. The accounting inefficiencies like the Repo transactions being shown as sales and not made part of liabilities was a major concern. Further, there was improper disclosure of such transactions and the stakeholders were unaware of the transactions. But nothing was pinned by the auditors. The auditors considered trusting the business managers vision when it was about the adh erence of accounting standards. Though the standard for not clear, but the auditors should have understood that the standard was formed for the betterment of general and not the specific. They must have rejected the owners way of showing things and stood by the Boards. Further, the International accounting standard for Repurchase transactions had a major loophole. It did not provide a benchmark for the treatment of such transactions and Lehmans took advantage of such loophole and was defended by the auditors. The International accounting standards were revised after the collapse. The International accounting standards Board (IASB) and Financial Accounting Standards Board (FASB) met in April 2010 and had their discussion regarding the question to overcome such loophole for accounting of repo transactions. However, the auditors were expected to see the facts in the light of its duties to the stakeholders and not as a follower of the accounting and auditing standards. The auditors, in such cases, need to show utmost professionalism and serious work and not support such business devastations blindfolded. The revised accounting standard on accounting for repo transactions was issued in June, 2014 (via Update No. 2014-11), Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. (FASB, 2014) According to the guideline, the repurchase transactions will not be accounted as sales. Earlier, the transfer of a financial asset could be combined with the repurchase financing and both are accounted as a forward agreement. This treatment resulted in window dressing of Balance Sheets by many investors.(FASB, 2014). With the revised format, the Generally Accepted Accounting Standards were aligned with the International standards of reporting popularly known as IFRS. Therefore, the auditors are required to comply with the new guidelines and show greater professionalism and prudence in providing the audit and assurance services especially while auditing such a huge and globally renowned institution. Recommendations The audit and role of auditors had never been into such a limelight before. The Association of Chartered Accountants (ACCA) has assessed an auditors role in the downfall of a business concern. ACCA has firm belief that the auditors bring value to business and the expanding economies. This is done by the trust of stakeholder which is reflected by the governing structure of corporate reporting. ACCA have met several time to see the case for the role of audit and that how it can extended to meet stakeholder expectations more efficiently.(ACCA, 2011). The auditors were always expected to show professional competency but the global financial crisis led to a series of inquiry into the roles and liabilities of auditors. This is evident from the European Commissions Green paper on auditing, the UK Economic affairs Committees inquiry, the US Public Company Accounting Oversight Boards examinations etc. All of these highly emphasized that the auditors should not be a blind follower of the standards formulated. The major recommendations which came forward post global financial crisis inquiries are:- The big four audit firms should be assigned the task of auditing of Big concerns. The reason behind such decision is that if one of the big firms fail to perform the required services then the other will need to choose from the remaining ones and not to get confused about the suitability of various audit firms. The auditors should perform the audit services keeping in mind the requirement of the stakeholders and the society because in case of failure there can be legal action against the auditor by the stakeholders. The auditor should perform non-audit services keeping in the mind the required independence on the part of auditors. The huge consultancy prices should not attract the auditors as the auditor is expected to perform their duties independently and any relation to the business may hamper its scope of duties and independent examination. The points mentioned in Sarbanes Oxley Act, 2008 should be clearly understood to see the motive of the enactment. The enactment was a result of a series of financial crunches like Enron and Worlcom and is seen as a major industrial turnaround. The auditors should not stick to one company our concern for a longer period of time as this may seriously hamper the independence as well as the audit scope and duties. The longer duration of audit engagements not only satisfies the client regarding strictness in audit policies but it also make the auditor reluctant to see any irregular transactions or activities and he prejudices the nature of work of his clients. The Going Concern assumption of the business should be clearly overviewed because after the global financial crisis, a number of financial institutions were getting indulged in window dressing their financial position by using various monetary and non-monetary measures. The going concern assumption may not be there in some cases as the financial statements must be showing highly valued assets but the actual valuation and position would be much lower. Thus, the auditors responsibilities regarding the going concern has increased. Works Cited ACCA, 2011. Audit under fire: a review of the post-financial crisis inquiries. [Online] Avail able at: https://www.accaglobal.com/content/dam/acca/global/PDF-technical/audit-publications/pol-af-auf.pdf[Accessed 17 January 2017]. Adu-Gyamfi, M., 2015. The A nalysis of the Collapse of Lehman Brothers. [Online] Avail able at: file:///C:/Users/user/Downloads/SSRN-id2771615.pdf[Accessed 17 January 2017]. Duncan, S., 2012. Causes of Collapse: The Failure of Lehman Brother Holdings, Inc.. [Online] Available at: www.ssrn.com/abstract=2192284[Accessed 17 January 2017]. FASB, 2014. FASB IMPROVES FINANCIAL REPORTING OF REPURCHASE AGREEMENTS. [Online] Avail able at: https://fasb.org/cs/ContentServer?c=FASBContent_Cpagename=FASB%2FFASBContent_C%2FNewsPagecid=1176164127256[Accessed 17 January 2017]. Fineman, J. . O. Y., 2008. Lehman Brothers' Corporate History and Chronology. [Online] Available at: www.bloomberg.com/apps/news?pid=newsarchivesid=a63mWc3ILITo[Accessed 17 January 2017]. PricewaterhouseCoopers, 2009. Lehman Brothers Bankruptcy: Lessons Learned for. [Online] Available at: www.pwc.com/jg/en/events/lessons-learned-for-the-survivors.pdf[Accessed 17 January 2017]. Ranjeen, K. . S. S., 2015. The effects of Lehman Brothers bankruptcy on the. [Online] Available at: www.web.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=4sid=2eba05al-c490-4989-90ab-32a8b33fd375%40sessionmgr102hid=116 [Accessed 17 January 2017]. Tymkiw, C., 2012. Pioneers of money market funds cleared of fraud. [Online] Availa ble at: www.buzz.money.cnn.com/tag/reserve-primary-fund-cleared-of-fraud.pdf [Accessed 17 January 2017].
Wednesday, December 4, 2019
Levels of Processing and Memory 1 Abstract: Craik and Lockhart (1972) developed a theory in which they discussed the levels of processing. The theory states, the more a word is processed, due to its meaning, the better the word is retained. In our experiment we presented subjects with a yes or no question pertaining to the meaning of a word or the appearance of a word and then measured their reaction time. Subjects were then asked to recall as many words that they could remember, results showed that there was a significant difference in reaction times and the number of words that were recalled. Introduction: According to Dewey Rundus (1971) the more an item is rehearsed, the higher the probability the item will be remembered. Herman Ebbinghaus (1885) concluded that in order to remember and learn items we must repeat them. He developed the nonsense syllable, which is a word that is composed of two consonants with a vowel in between. A nonsense syllable could not be a real word (would not be found in the dictionary). Ebbinghaus wanted to minimize the effects of association that have already been made with words that we are familiar with. Using nonsense syllables he determined that frequency of appearance is directly Levels of Processing and Memory 2 correlated with the amount one recalls (Lundin 1996). The rehearsal theory states that recall should mimic reaction time in our experiment. The longer a word is kept in mind, the better it will be recalled. Repetition plays an important role in the processes of memory but it is not the only factor that affects how much one can recall. Craik and Watkins (1973) disputed that repetition improves memory. They performed an experiment to determine that repetition didn't improve memory but that the speed which the words were presented. Subjects were read a list of words, but before they heard the words they were given a critical letter and were asked to remember the last word from the list that began with that particular letter. Subjects thought that they could ignore the other words on the list that did not pertain to the critical letter. The subjects were then unexpectedly asked to recall as many words from the list that they could remember and not just the ones that contained the critical letter. Craik and Watkins (1973 did not find a relation between the amount of words recalled and rehearsed. Craik and Lockhart (1972) developed a theory in which they discussed the levels of processing. The theory states, the more a word is processed, due to its meaning, the better Levels of Processing and Memory 3 the word is retained. The time that one is exposed to the stimuli is of last importance but the stimulus that is analyzed due to its meaning is more deeply processed and is remembered better. The level of processing theory differs from Rundus (1971) theory on repetition. Rundus felt that if one were exposed to a word repeatedly then they would be more likely to recall it. Craik and Lockhart (1972), their theory of processing states that it does not matter how many times or how long the word is shown, but if the meaning of the word was thought about the meaning of the word, then the word would be more easily recalled. Subjects: Ten random college students participated in this experiment. Each subject was used in both conditions. Each condition contained a question with ten words. Each subject answered two questions, one pertaining to the meaning of ten words and the other pertaining to the appearance of ten words. There was actually twenty answers, each question was asked before each word was given. Levels of Processing and Memory 4 Apparatus: To create our experiment my partner and I used the Aldus Superpaint program and the Mindlab program on a Macintosh computer. Procedure: First we chose two questions. The question that pertained to the meaning words was " Is this alive?" The question that pertained to the appearance word was "Are there more consonants than vowels?" Next we needed ten words for each question that subjects could answer with a yes or no response. It was very difficult finding words that would pertain to both questions, but after a lot of thought and searching my partner and I found 10 words for each