Forming stage of a team Essay Example | Topics and Well Written Essays - 500 words

Forming stage of a team - Essay Example The process of forming a team and identifying a set of value and norms takes time, this process takes five stages that were highlighted by Tuckman the 1960’s and revised in 1977. Forming is the first stage of the Tuckmans team development model, and at this stage, the individual team member comes together with a sense of anticipation and commitment towards working as part of a team. In our table, this has been experienced where members have accepted to come together in order to become members of our team during the meetings. In our team meetings, individual members feel that they should be committed, and anticipations are high towards working together to achieve the team’s objectives. In the forming stage, motivation of members is high because members appreciate the fact of being selected to become part of the team. In our class meetings, members are motivated towards working together in the team. Every individual is seen to be in positive attitude so that cohesiveness is maintained in the team. Members are usually high in spirit during discussions and this helps to boost motivation in the team. Secondly, this stage is characterized by anxiety of members because they might not have met each other anywhere else before. Hence, individuals are anxious to meet new people who are different in personalities. In addition, members are anxious because they do not know what kind of work they are going to do in the team. This is because they are not sure or their purpose in the team, and they do not know what is expected of them. In our table, members had not worked anywhere else before as a team and hence, there was anxiety, which was felt when we came together as a team t he first time. The forming stage is also characterized by expression of personal relations and dependence of members on each other. This means that individuals highly rely on the

Action Research in the Classroom Essay Example for Free

Action Research in the Classroom Essay The classroom is a very interesting place to start. As a teacher, there are a lot of privileges for me since the students look up to me as an authority figure. Admittedly, there are times that dealing with students can become very stressful, especially in moments that students are very difficult to direct and control. When kids become naughty and the teacher does not have the sensitivity and the patience to deal with them, it might simply become a nightmare. Even if the teacher has a natural penchant for loving and teaching kids, it can still be a bit of challenge to teach them. Â  The teacher has a very important role in the intellectual and social development of the kids in the school. If they do not appreciate education, it is the duty of the teacher to inculcate in them the importance of education for themselves and for their future. This cannot be done, however, by shoving these ideas down their throats. Rather, what is needed is a careful observation of their ways, the things they enjoy as well as the different modes of learning that they have, the activities they enjoy inside and outside the school. By undertaking an action research and carefully observing the students, the teacher will be able to understand the students more and use this understanding in making the classroom more effective in terms of educating the students and preparing them for the future ahead of them. Some of the areas of observation would be the study habits of the students, their social standing in the community and how this impacts their studies, the social activities they enjoy inside and outside the school, the role of their parents, their learning styles, and the different media that they are exposed to. The observations presented in this action research may be a bit crude, yet they may be expanded upon as time passes by and a better understanding of the students will be arrived at. Study Habits Action research demands keen observation skills regarding the different areas identified by the researcher (Avison, Lau, Myers Nielsen, 1999). In observing the study habits of the students, what I have looked for is the way that they regard the library, the media that they enjoy well and the different kinds of media that they are exposed to. In going through these observations, I looked at the rate of submission of homework by the students; I also went to the library and conducted random observations if my students were there. In terms of preparation of homework, a number of students were not very keen in completing their homework. A handful of them heeded my requests for them to study and complete some homework. Both honor students and some silent kids showed aptitude in completing homework. Those who did not complete homework tended to be those who are very playful and did not show great concern for their studies. My trips to the library were not very fruitful. The number of students who frequently visit the library does not even exceed the number of my fingers in one hand. Only when I gave an assignment that expressly required them to go to the library did they go there and looked for the information I requested them to look up. Perhaps this may be explained by the proliferation and the widespread use of the Internet among my students. Most information can be found in the Internet, so they may choose not to go to the physical library anymore and simply type some words and click on some links. The challenge is therefore to make students realize the value of the library. Economic and Social Standing My students are predominantly white although there are Asians, Hispanics and Blacks interspersed. Most of them were either in lower middle class and those who are found in the middle of the middle class segment of the society. As such, most of the kids did not enjoy great amenities and economic riches. Those who belong to the upper middle class tend to have parents who exert greater influence on other teachers and on the school in general. Because of their social standings, more than half of my students had to keep part-time jobs to pay for their bills and meet some of their needs. This also poses another challenge for the teacher. Even if they did not absent themselves from school frequently, because of their work, there were times that their study habits were affected. Instead of spending their time in reading their lessons, they have to work and earn money. This may also explain why a lot of them were not able to do their homework. Once when I was in the mall, I encountered a student of mine working there and had a conversation with her. After that, I decided to also look at the work of my students and look at the nature of their work and how the nature of their jobs affects their studies. Truly, economic situations affect the well-being of the students. But since they have no choice, then the teacher would have to do his best to take into account these realities in the way that they are being taught. Activities Outside the School Students who belong to higher economic status tend to enjoy more time outside the school. They hang out at some cafes or snack bars where they can chat about school. I also asked several of them regarding the activities that they do and these kids also tend to sleepover at each other’s homes. Students who belong to lower income families, however, tend to limit their outside school activities so that they can earn some money for personal and for family use. They still hang out with some of their friends; however, this is less frequent than the students from higher income families. Another activity that occupies the leisure time of students is their use of game consoles such as Playstation and Xbox. Through these bonding moments, they develop their relationships with their friends. This is also their way of relaxation. Connecting to the Internet and connecting socially to friends. Video games is also a past time that some students told me they do during their leisure time. The Role of Parents I was not able to observe directly the role of the parents in the education of the students. From my conversations with students, however, those who belong to middle class and higher income families usually have their parents reminding them to study well and do their best. This in turn encourages the students to study better. In some cases, parents promise rewards for their children if they perform up to a certain level. Those from lower income families, however, do not have very encouraging parents. Rather, they are expected to help out in paying some of the bills in the house. This arrangement, however, does not seem to dampen the desire of some students to study well. There are those, however, who tend to get discouraged with this and focus more on their jobs than on their studies. Implications for the Teacher The teacher has a very important role in the development of the students; especially so, because he gets to stay with the kids longer than their parents. Observing students and trying to know them more deeply will help the teacher in dealing with the students. With the sheer number of students, however, it is difficult to observe each and every student. Nonetheless, the teacher is called upon to establish meaningful relationship with students because then, the process of teaching becomes more enjoyable. The teacher has to vary his teaching style depending on the students and their backgrounds. Their study habits has to be understood well so that the teacher will know how to approach them and present the lessons in such a way that the students will understand. Not only that, when their learning style corresponds with the teaching style of the teacher, then they will not only learn but they will also come to love the way that the teacher teaches. Conclusion Action research enables the teacher to become a part of the world of the students instead of simply a detached outside force in the classroom. When this is undertaken, it opens up important insights, which can help the teacher improve his teaching strategies and style. The teacher’s role in the life of the students is very important. As such, it should not be taken lightly. By becoming immersed in the life and the studies of the students, the teacher becomes a friend and a mentor to his students. Reference Avison, D., Lau, F., Myers, M. Nielsen, P. A. (1999). Action Research. Communication of the

America Needs Affirmitive Action :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"†¦granting modest advantages to minorities and women is more than fair, given hundreds of years of discrimination that benefited whites and men.† (Fromkin) Affirmative Action is not only justifiable, but it is necessary in today’s world. Affirmative Action can be seen throughout United States History as a leading fighter for equal opportunity. Affirmative Action can assist in creating a more equal opportunity for people regarding higher education, employment and the work force, and creating a more diverse equal community in all aspects. Affirmative Action, in contrast to many people’s beliefs, does not promote â€Å"reverse discrimination† or create quotas for groups to adhere to. On the contrary, it gives minorities and women the opportunity to have jobs and positions they are already qualified for. Affirmative Action â€Å"calls for minorities and women to have special consideration in employment, education, and contracting decisions†(Fromkin). Although the name â€Å"affirmative action† has only been applied in recent times, there is a history of affirmative action actions taken in the United States. This history is an example for the endless fight for equality among women and all minorities. These actions can be seen in amendments to the constitution, especially the 13th, 14th, 15th, and 19th amendments. They abolished slavery, granted citizenship to the former slaves, that the right for United States citizens to vote can not be denied or reduced on the account of race or color, and lastly the 19th amendment gave women the right to vote. Furthermore, the Civil Rights Act of 1964, title VI, states that the use of literacy or other voter-qualifications cannot be used to keep any minority off the voting lists, reassuring an equal voice in the democracy of the US. I n addition, former President Johnson and Kennedy used executive orders 11246 and 10925 to show government support of affirmative action through the â€Å"equal employment opportunity† and the establishment of the Committee on Equal Employment Opportunity respectively. The downfall in affirmative action history is the passing of Proposition 209 and the California Civil Rights Initiative (CCRI) which ended affirmative action in California. Affirmative Action has played a large role in history, as a fighter for equal opportunity, despite race or gender.   Ã‚  Ã‚  Ã‚  Ã‚  Affirmative Action provides women and minorities equal opportunity in higher education Affirmative Action in higher education allows minorities and women not given the opportunity of a prestige education to go further in life and attend side by side with students given better opportunities.

Employees Provident Funds Act, 1952 Essay

Any establishment registered under Cooperative Societies Act or State law relating to cooperative societies, employing less than 50 persons and working without paid of power To any establishment belonging to or under Control of Central Government or a State Government and whose employees are entitled to benefit of contributory provident fund or old age pension. To any establishment set up under any Central or State Act and whose employees are entitled to benefit of contributory provident fund or old age pension. Administration of the fund [section 5(1A)]. Both employer and employee have to pay contribution at prescribed rates. These amounts are credited to a fund. The fund vests in and is administered by Central Board. Employees Covered Under the scheme As per section 2(f), â€Å"employee† means any person who is employed for wages in any kind of work, manual or otherwise, in or in connection with the work of an establishment, and who gets his wages directly or indirectly from the employer. Thus, Persons employed through contractor in connection with work of establishment are covered Apprentices employed under Apprentices Act or under standing orders of establishment are disqualified, i. . they are not employees. [The model standing orders merely state that an ‘apprentice’ is a learner who is paid an allowance during the period of his training]. Non-eligible Employees Under PF Employee whose ‘pay’ is more than Rs. 6,500 per month are not eligible. Apprentices as per certified standing orders or under Apprentices Act Casual employees. However, employees employed through cont ractors have also to be covered under PF. Employee to Become member of Fund Immediately on Joining Every employee employed in or in connection with work of a factory or establishment to which the Act applies is entitled and required to become member of Provident Fund, unless he is an disqualified employee. Contribution by Employer & Employee As per section 2(c) â€Å"contribution† means a contribution payable in respect of a member under a Scheme or the contribution payable in respect of an employee to whom the Insurance Scheme applies. As per section 6, contribution shall be paid by employer @ 12% of basic wages plus DA – dearness allowance plus retaining allowance. This amount is defined as ‘pay’. Employees Provident Fund Scheme This is the main scheme under the Act. Both employer and employee have to pay contribution to Provident Fund. The employer has to deduct contribution of employee from the salary of employee and has to pay both employees’ contribution as well as employer’s contribution by a challan in prescribed form. The amount has to be paid in approved bank. EMPLOYEE CAN PAY HIGHER CONTRIBUTION – Employee has to contribute 12% of his ‘pay’ as contribution. The employee can voluntarily pay higher contribution above the statutory rate. However, employer does not have to match the voluntary contribution, over and above the statutory rate. Contribution Payable under PF scheme The Principal Employer is liable to pay contribution of his own employees as well as employees employed through contractor. Principal Employer can recover from contractor the amount paid by him on behalf of contractor. The contribution is 12% of ‘pay’ i. e. basic wages, plus dearness allowance, cash value of food concession and retaining allowance. Contribution of both employer and employee is same i. e. 12% each. Employer has to pay his contribution to EPF. He cannot deduct his contribution from wages of the employee. However, he has to deduct employee’s share from his salary and pay the same in EPF scheme. This deduction can be only from the wages pertaining to period for which contribution is paid. However, if there is accidental omission, the amount can be recovered later. Amount deducted from salary of employees is held in trust by the employer or contractor. The balance will be retained in the EPF scheme. Thus, on retirement, the employee will get his full share plus the balance of Employer’s share retained to his credit in EPF account. Lower Contribution in certain cases The employer’s and employee’s contribution is 12% each. This is applicable to many of industries and establishments. However, this contribution is not applicable to – â€Å"any establishment employing less than 20 persons† any establishment registered with Board for Industrial and Financial Reconstruction (BIFR) as a sick company – the lower rate of contribution continues till its net worth is positive * any other establishment which has accumulated loss equal to or more than its assets and has also suffered cash loss in last two years. Jute industry , Beedi industry ,Brick industry other than the spinning sector. In these cases, the contribution is 10%. Transfer of accounts (1) Where an employee employed in an establishment to which this Act applies leaves his employment and obtains re-employment in another establishment to which this Act does not apply the amount of accumulations to the credit of such employee in the Fund or as the case may be in the provident fund of the establishment left by him shall be transferred within such time as may be specified by the Central Government. Investment The amount received by way of provident fund contribution is invested by the board of trustees in accordance with the investment pattern approved by the government of India. The members of the provident fund get interest on the money in their provident fund accounts. The rate of interest for each financial year is recommended by the board of trustees and is subject to final decision by the government of India. 2) Where an employee employed in an establishment to which this Act does not apply leaves his establishment and obtains re-employment in another establishment to which this Act applies the amount of accumulations to the credit of such employee in the provident fund of the establishment left by him may if the employee so desires and the rules in relation to such provident fund permit be transferred to the credit of his account in the Fund The Employees’ Pension Scheme, 1995 Applicability EPS, 1995 applies with effect from 16. 11. 995 to all establishments to wh ich EPF,1952 and 1971 were applicable. Eligibility Employer’s and employees’ contribution Protection of provident fund Pensionable salary Pensionable service Formula for calculation of pension Monthly members’ pension = Pensionable salary * pensionable service 70 Employees’ family pension scheme For the purpose of providing family pension and life insurance benefits to the employees of any establishment or class of establishment to which the act applies. the scheme is applicable to all subscribers of employers’ provident fund. Contribution The employees contribution of 8. 33% will be diverted to the fund of pension scheme. Employers contribution is 12%. In such cases, 8. 33% is diverted to pension scheme and balance 1. 67/3. 67% as the case may be, will be in credit of employee’s name in provident fund account. family pension fund from and out of provident fund contributions payable by the employer and employee in each month, a part of the contribution representing one and one and 1/6 the percent from and out of employees contribution is remitted by the employer to the family pension fund. Benefits under the scheme: Members will get pension on superannuation or retirement from service and upon disablement during employment. Family pension will be available to widow/widower for life or till he/she remarries. In addition, children will be entitled to pension, up to 25 years of their age. Employees’ Deposit Linked Insurance Scheme The Central Government may by notification in the Official Gazette frame a Scheme to be called the Employees’ Deposit-linked Insurance Scheme for the purpose of providing life insurance benefits to the employees of any establishment or class of establishments to which this Act applies. Deposit-linked Insurance Fund into which shall be paid by the employer from time to time in respect of every such employee in relation to whom he is the employer such amount not being more than one per cent of the aggregate of the basic wages dearness allowance and retaining allowance (if any) for the time being payable in relation to such employee. The employer has to pay contribution equal to 0. 50% of the total wages of employee, in addition to administrative charges of 0. 1% of total wages. The employee need not contribute any amount too the scheme. The salary limit for coverage of employees in same as that of provident fund.

Romeo and Juliet, and War Poetry Comparison Paper

How well does Baz Lurhmann’s adaptation if the script show the theme of conflict? I think Baz Lurhmann’s adaptation of Romeo and Juliet strongly shows the theme of conflict throughout the entire film, in which it is retold for the modern viewers.Baz Lurhmann shows at the start of the film two sky high building with ‘Montague’ and ‘Capulet’ in bold lettering at the top, this shows how the two families have a lot of rivalry, such as in the business world of today’s society which a lot of people can relate to also the fact they are both nearly at a war about something nobody knows anything about ‘Ancient grudge‘, I think this is the base point of the build up of conflict in the film. Lurhmann also used quite modern weapons such as guns and drugs which I think is easier for people to understand, as it is up to date which world today.In nearly every shot in the film there is a gun which shows the amount of tension and rivalry betw een everyone and how this leads into the conflicts. Also Lurhmann choose to represent the different houses in the form of gangs which a lot of people now days can understand in a sense which there is always a lot of conflict to protect yourself and your family name. I think Lurhmann has achieved exactly this in Act 1 Scene 1. The conflict shown in this scene is incredible in a way in which it is brought up how something very small can lead into something big and cause a lot of damage and disruption.

THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay Example

THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS] THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET Essay THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET By ssoekarno THE EFFECT OF CONVERGENCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARD [IFRS]-BASED ACCOUNTING STANDARDS ON STOCK MARKET: EVIDENCE FROM MALAYSIA PUBLIC LISTED COMPANIES EVI OKTAVIANI SORAYA A project report submitted in partial fulfillment of the requirements for the award of the degree of Master of Business Administration International Business School UniversitiTeknologi Malaysia JANUARY 2014 I declare that this thesis entitled The Effect of Convergence with International Financial Reporting Standard [IFRS]-Based Accounting Standards On Stock Market: Evidence From Malaysia Public Listed Companies is the result of my own research except as cited in the references. The thesis has not been accepted for any degree and is not concurrently submitted in candidature of any other degree. Signature: Name Date :JANUARY 2014 Dedicated to ACKNOWLEDGEMENT BSTRAK laDle 0T content CHAPTER 1 INTRODUCTION 1 Background 0T study 1. 1 Background of International Financial Reporting Standard [IFRS] Financial statements are important for investor in assisting them in making decision on where to invest globally. This is why high-quality accounting standards enables investors to receive appropriate information which in turn will give investor confidence in making decision . There is a drive to globalize accounting standards and practices that will be accepted by the regulators, certification bodies, the accounting profession and the business and academic communities around the world in order to minimize the potential dangers of bias, misinterpretation, inexactness, and ambiguity. Over the years the business community has recognized accounting as the language of business and financial information as a form of language. Since accounting has been accepted as a language, it is advisable that companies around the world to speak in the same language. Recent political and economic events have focused on the pressing need for more uniformity in international accounting standards . There is a requirement for a universal set of accounting standards which can unite the language of accounting around the world and solve the problem of differences in accounting practice. It is no surprise that the globalisation of capital markets has been accompanied by calls for globalisation of financial reporting. Indeed, the globalisation of the worlds capital markets has created the need for comparable and reliable financial information to support the varied transactions and operations of the markets Hora et al.. The accounting profession has faced the pressure of globalisation and continues to look for ways to produce financial situation using a unique accounting procedures that can be understood by all business society in the last few decades . Not only that, to ensure usability, financial information also supposed to be understandable and comparable to make credit decisions and investment more easily retrieved. Though the process of internationalisation might be difficult, Anderson said that a set of international accounting standards will allow new horizons of financial statement evolution by the fact that the comparative analysis of the rate of return and profit/loss set written in balance sheet has made the competition between companies become more pertinent. In order to solve this problem, a novel global accounting standard International Financial Reporting Standard (IFRS) has been introduced. Currently IFRS has been increasingly adopted by accounting policy makers all over the world. It is estimated ver one hundred countries are using International Financial Reporting Standards. For example, Australia and all members states of the European Union which have adopted IFRS since 2005, whereas Canada, India and Korea has moved into IFRS convergence in 2011 . I ne aaoptlon 0T Internatlonal Accounting stanaaras/lnternatlonal Hnanclal Reporting Standards (IAS/IFRS) by a significant number of developing countries in the past years is considered as one of the biggest events witnessed in the international accounting field. For most of these countries, the application of IAS / IFRS accounting is the transition to a new paradigm. This paradigm, mainly based on the communication of good quality and useful financial information for decision-making , consider the investor involved in the stock market as a specific user of financial statements . The objective of this financial report primarily to offer investors the necessary information for them in order to properly evaluate the economic situation of the company which in turn allowed them to put their money in profitable investment opportunities. Countries which have already adopted the IFRS accounting standard foresee various benefits, for example Australian government hopes that the setting of IFRS ccounting standards in Australia can lead to production of higher quality accounting standards which in turn will facilitate Australian business in terms of lower costs of capital and enables Australian companies to compete on an equal footing overseas, while also maintaining investor confidence. In the meantime the Chairman of the Korea Accounting Standards Board and President of the Korea Accounting Institute stated that his organisation is optimistic about the benefits of IFRS adoption in that it will not only make Korean companies more competitive through their enhanced ransparency but also will allow the South Korean accounting industry to expand worldwide. From those two statements, we can conclude that one common benefit sought by adopting IFRS is to eliminate barriers to cross-border investing . Moreover, Ball argued that IFRS promises more accurate, comprehensive and timely financial statement information compared to the national standards which it replaces for the public financial reporting in most of the countries which adopted it, including Continental Europe. Better quality financial statement information can even lead to etter assessment by investors in making capital market decisions and thus reduce the risk to these investors. Another attribute of IFRS is that it requires more extensive disclosure. For example, asset impairment FRSI 36 requires disclosure of goodwill and other intangibles, particularly in relation to the allocation of goodwill to cash generating units, the main assumptions used to measure recoverable amount and impairment testing. Increased level of disclosure in the financial statements may affect the quality of reported earnings. According to disclosure system which set at high quality standard ives investor confidence in the credibility of financial reporting. If more disclosure is required, any attempt to manage earnings can be more easily detected and addressed by the internal oversight bodies (board of directors and auditors) in a company. The use of international accounting standards in promoting various players in the capltal market can De a good cnolce Tor developing countrles tnat seek to promote decent functioning of their capital markets. To satisfactorily fulfill their role in the evaluation and financing of companies and in the development of various sectors of conomic activity, listed companies have to communicate good financial information . Since worldwide adoption of IFRS would create a common language for accounting, new capital markets would open to companies who have been reporting only in accordance with their national standards. Communication of financial information helps to limit the problems associated with information asymmetry and establishes a climate of confidence in the capital market mechanism. This in turn acts to encourage different actors to make more transactions. IFRS would allow the financial statements to be in a simple, nderstandable, and standardized format for investors and other businesses who are interested in the firm. A research which conducted by Centre for Audit Quality on July in the United States shows that sixty-two per cent of investors agree that the creation of a single, uniform, international set of accounting standards would give them a higher level of confidence . In general, convergence to IFRS provides many benefits such as enhancing comparability as a company financial report can easily compared to another, increasing global investment flow through transparency, decreasing cost of capital hrough global investment opportunity, rising financial reporting efficiency and enhancing financial reporting quality by lowering the chance to do earning management practice. However, despite the optimistic expectations put on IFRS convergence, the reality seems more unclear. Previous research which have studied the relationship between IFRS adoption and market behavior has seen a variety of results, for instant Horton and Serafeim which investigate market reaction to IFRS and valuation of IFRS reconciliation adjustment, their study resulting a negative abnormal return for firms eporting negative earnings reconciliation, mandatory IFRS adoption alters investors beliefs about stock prices, proving that the new IFRS numbers give new information to the market. Meanwhile Armstrong et al. finds that equity investors perceived the expected benefits of more comparable financial reports and the prospects of increased capital flows outweighed the expected costs of implementation and any economic distortions arising from reduced local accounting diversity. Furthermore study result shows that annual report publication does not produce unexpected nformation either before, on, or after the adoption of IFRS, however she found an interesting fact that IFRS adopters are valued higher before the adoption, but not afterwards. . 2 International Financial Reporting Standard in Malaysia Malaysia cannot let itself to be left behind in this worldwide movement towards aaoptlon 0T tne S Malaysian companles nave to De In step wit n tnese developments in financial reporting practices adopted around the world in order to make their financial statements accepted globally. Malaysian Accounting Standards Board chairman foresee to that by becoming fully IFRS compliant, Malaysias capital nd financial market will be further enhanced. In a statement, Azmi explained another benefit of adopting IFRS in Malaysia which are not only it is accepted globally as it already used in more than 100 countries, but using a common language also will turn reporting costs decrement since there is no need to reconcile accounts, can increase credibility of local market to foreign investors, have comparability across boundaries and cross border listing. Full convergence to international accounting standards will put Malaysia in good stead for increased globalization of capital markets, providing comparable financial tatements to promote investor confidence. The milestone of IFRS convergence in Malaysia began in the period between 1978 and 1997 where Malaysia started to adopt International Accounting Standards (AS). However, those standards which were set by the Malaysian Association of Certified Public Accountant (MACPA) together with the Malaysian Institute of Accountants (MIA) were not enforceable on companies at that time. Following the passage of the Financial Reporting Act 1997 by Malaysias parliament on March 1997 prior to Asian financial crisis, the Malaysian Accounting Standard Board (MASB) was established with a given mandated to developed financial reporting standards, develop Islamic accounting standard and conduct an extensive consultative process. Before 2005 all accounting standards issued by MASB had the prefix MASS. Subsequently in 2005, concurrent with global standard setting development, the MASB renamed all issued standards as Financial Reporting Standards (FRS) that was meant to be in line with standards issued by IASB except for some minor modifications. In 2006, Malaysia introduced 2-tier financial reporting framework, started on 2007 Malaysian FRS standards (known as FRS framework) have been dentical to IFRS AS. The difference lies in the standards that Malaysia has not adopted. The FRS framework is made mandatory for non-private entities while the private entities can continue using the old MASB standards known as PERS (private entity reporting standards) framework. Further, a new numbering system to its FRS and the interpretations was introduced by the MASB in 2007. MASB together with Financial Reporting Foundation (FRF), make up the new framework for financial reporting in Malaysia. On 1 August 2008, they announced their plan to move to full IFRS convergence by 1 January 2012. To facilitate a phased changeover to IFRS convergence, Malaysia has adopted FRS 139 Financial Instruments: Recognition and Measurement with the effective date of 1 January 2010. By 2012, all approved accounting standards applicable to entities other than private entities will converge fully with all IFRS issued by the International Accounting stanaara In November 2011 , the MASB issued a new MASB approved accounting framework, namely the Malaysian Financial Reporting Standards (MFRS Framework). As defined by MASB, the companies that are required to apply MFRS framework are Entities Other Than Private Entities shall apply the MFRS framework for annual periods beginning on or after 1 January 2012, with the exception of entities (known as transitioning entities) which are given options to continue with the old FRS framework that has not adopted IAS 41 Agriculture and/or IC Interpretation 15 Agreements for the Construction of Real Estate. Next, MASB plans that the full adoption of the MFRS Framework will be mandatory to all companies for annual periods beginning on or after 1 January 2012. Because of this, approximately one thousand Malaysian public listed companies will be affected y the IFRS convergence in 2012, however the companies or the group of companies that are involved in agriculture or real estate industry still have time to defer its convergence. In addition, the International Accounting Standard Boards (IASB) future work plans on some other core standards will also affect Malaysian entities significantly after 2012. There are a few IASB exposure drafts and discussion papers that are now going through due process and soon to be adopted including leases, revenue recognition, financial instruments, fair value measurement, insurance contracts, and consolidated inancial statements. As a consequence of this convergence, when IASB issues a new or amended IFRS, Malaysia will adopt those standards in their entirety. 1. 3 Problem Statement Principles-based standard accounting may reduce the likelihood of scandals, as shown on study by Nisbettt and Sheikh . One example of a world phenomenon that has occurred related to financial statements matter is Enron scandal. Enron which was founded in 1985 is one of the worlds leading electricity, natural gas, communications and pulp and paper companies before it bankrupted in late 2001, its nnual revenues rose from about $9 billion in 1995 to over $100 billion in 2000. At the end of 2001 it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud. This scandal shows weakness of GAAP system as compared to principles- based standard such as FRS. The benefit of IFRS upon businesses that have adopted it is still debated. Previous studies have shown that the financial reporting process is influenced Jointly by the accounting standards and economic incentives of market participants . That said it follows that if companies can be shown the positive effect of adopting IFRS, they will be more willing to do so. I nls would Imply tnat companles mlgnt accept tne convergence witn IHRS positively IT, for example, they expect IFRS to impact favorably on company performance, and reduce information asymmetry and the cost of capital Hope et al.. In contrast, companies might expect the costs to surpass the benefits of IFRS adoption, or that IFRS implementation is followed by managerial opportunism to reduce the regulatory compliance costs or variation in the application of IFRS . Studies on the impact of adopting IFRS on market behaviour is still relatively new and unexplored, particularly in Malaysia. Most researches have only investigates its effect into financial statement and ratio such as Stent et al. or into accounting quality . Many have focused solely on the technical accounting impacts related to IFRS. Understanding the broader impacts that IFRS may have is also important. Knowing such effects of IAS/IFRS convergence on stock market behavior is of major importance for several different parties including primarily, the national accounting standardization body, the IASB, nternational investors, as well as for the companies themselves. Although previous studies have provided evidence on the benefits of IFRS to quality of financial statement, such as Paglietti and Wang et al. there is a possibility that IFRS might not have a positive impact on company performance at all, in which case companies would not be too enthusiastic in adopting IFRS (outside of for compliance reasons). Based on the above discussion, this study will investigate whether adoption of IFRS is acknowledged by investment community and influences the investment decision making. The research result expected will give insight to firm and Jurisd iction whether to move into a single standard on financial reporting or not. This can be useful information for other emerging markets that are still not fully adopting this new standard such as Indonesia and Thailand. 1. 4 Research Question Signalling theory explains that signalling is done by management in order to reduce information asymmetry. A signal is an action taken by the more informed that provides credible information to the less informed. The theory assumes that managers of high-quality firms will have an intention to signal their superiority to the arket as described by Copeland et al.. One such example of signalling is accounting conservatism in which firms provide financial statements information to show that they applying conservative accounting policies which resulting a higher quality of earnings because its principle is to prevents companies to exaggerate profits and helps financial statements reader by providing under representing income and assets. This accounting conservatism is traditionally defined by the adage anticipate no profit, but anticipate all losses . Understatement of profits and net assets stated in financial statements is a positive

Smoking physical activity, and diet in North American Youth essays

Smoking physical activity, and diet in North American Youth essays I found an article titled Smoking, physical activity, and diet in North American Youth from the Canadian Journal of Public Health. This article basically states the problems and risk factors associated with todays youth health. There are many causes and reasons for todays unhealthy population, but the main cause is unhealthy lifestyle behaviors. There is a growing concern for youth health because the majority of these unhealthy behaviors can be prevented. Smoking among adolescents has increased in North America over the past decade. The average age that children smoke their first cigarette is around 12 years old (OLoughlin, Tarasuk). The number one reason children begin smoking is to look cool. Other reasons include depression, weight control and stress management. Although many attempts have been made to reduce youth smoking through prevention programs and health warnings, little progress has been made. Research shows that during adolescents girls smoke more than boys. This is due to mainly maintain weight and deal with stress. Around the age of 16 daily smoking begins, and the earlier one starts the harder it is to quit (OLoughlin, Tarasuk). Nicotine dependence is the reason people get addicted to smoking. Recent research is being conducted on nicotine dependence and the level of exposure that causes addiction. Not only is smoking a problem in the youth population, but physical inactivity is as well. Around 35% of youth do not participate in any level of physical activity, and this percentage is slowly increasing (OLoughlin, Tarasuk). This is mainly due to the media and technological boom. Children spend four hours a day with technology on average. Other reasons include reduction of physical education classes and increased time in automobiles. Children should be engaged in moderate to vigorous physical activity at least three times a week for at least 20 minutes eac...