Monday, January 13, 2020
Coppola Film Style Essay
Francis Ford Coppola has produced many films over his career. Two of his films that have become very popular are The Godfather and Apocalypse Now! Coppola uses many of the same elements in his films. In particular he uses cross cutting, close ups, non-simultaneous sound, the element of innocence, and the importance of the music. By looking at The Godfather and Apocalypse Now! these elements are clearly represented. The element of cross cutting is used in The Godfather in the baptism scene. While Michaels niece is in the church and the priest is going over his vows of becoming her godfather the camera cuts between the killing of all the heads of the other mafia families. In Apocalypse Now! cross cutting is used when Wilard is killing Captin Kurtz. While Wilard is killing Kurtz the camera cuts between their blood bath in the temple to the religious ceremony outside that the Vietnamese are sacrificing what appears to be a water buffalo. Non-simultaneous sound is used in Apocalypse Now! when the American army is flying into a small Vietnamese village. The camera is focused on a small schoolhouse and in the background the sound of helicopter propellers spinning can be heard. As the helicopters near the village the kernel turns on an instrumental piece by Beethoven, which is supposed to scare the villagers. Another example of non-simultaneous sound is used in Apocalypse Now! when Wilard gets off the boat at the last spot before he enters Cambodia. The voice of a Vietnamese man can be heard shouting slurs at the Americans but the camera does not show him. One of the soldiers shoots in the direction where the voice is coming from and then there is nothing but silence. Even though the man is not shown the sound implies that he is dead. During the baptism scene in The Godfather non-simultaneous sound is used as well. As the heads of the families are being killed the voices from the church can be heard as Michael is accepting his vows of becoming the godfather. Footsteps echo through a separate hallway from the church as the camera focuses in on the alter at the church. Innocence is represented in The Godfather through Micheals character. In the beginning of the film he is completely separate from the ââ¬Ëfamily businessââ¬â¢.à He does not want anything to do with it. As the film continues on his fatherââ¬â¢s life is put in danger and he is almost killed. Michael stays by his side and protects him. By his actions of protecting his father he is inducted into the ââ¬Ëfamily businessââ¬â¢. Which results him in becoming the new head of his family. By becoming the godfather Michael looses his innocence because he has to kill people and participate in illegal activities. In Apocalypse Now! the element of innocence is represented by a small puppy. As Wilard and his crew are floating down the river in their boat they come across a Vietnamese family on a boat. They pull up alongside it and Wilard orders Cook to go inspect the boat to see if they are stowing any weapons on board. The woman on the boat made a quick movement and Wilard and his crew got scared and started shooting everywhere resulting in the death of the family that was on the boat. After the shooting stopped Cook realized that she was just trying to protect her little puppy that she had kept hidden. One of the other crew members decides to take the puppy on to their own boat and bring it along for the rest of their journey. The importance of score is represented in Apocalypse Now! while Cook is sitting on the boat and starts to make the radio call to bomb the area where Kutrz is staying. In the background the sound of drums are used to simulate the steps of feet approaching the boat. Another example is when the helicopters are flying into the Vietnamese village; the captain blasts a Beethoven song. The song ties into the scene perfectly because the composer is known to be very racist and while the song is playing the captain calls out many racial slurs. In The Godfather an example of useful score is when the film producer of a new movie is laying in bed and as the camera pans up to where he is sleeping the music in the background get louder and louder. When the producer wakes up he is covered in blood and he starts to scream which then turns into the baby in the mafia family crying. The element of close ups is another common element used by Coppola. In the Apocalypse Now! many close ups are used on Wilards face and eyes. These close ups are used to convey the emotions he has and to show how war is effecting his character. The intensity of Kurtz is also shown through the use of close ups. In the scene where he drops Cooks head in Wilards lap isà an excellent example of this. Kurtz approaches Wilard and the camera focuses on the expression on his face, Kurtz shows no emotion and just stares straight into the cameras eyes, he appears to be almost inhuman. Close ups are used in The Godfather to accentuate the importance of family as well as close ups on hands. The symbol of hands was to show that their family was in control of everything that happened. No one could deny them because all they would need to do is ââ¬Å"make them an offer they couldnââ¬â¢t refuse.â⬠The close ups to show the importance of family played through out the entire movie because their main goal was to keep business and family separate. Francis Ford Coppola used many common elements in his films such, cross cutting, close ups, non-simultaneous sound, the element of innocence, and the importance of the music. By watching The God Father and Apocalypse Now! these elements are clearly represented. Coppola has a clear film style that cannot be argued to exclude the elements of cross cutting, importance of music, close ups, and innocence. In any of his films one or more of these elements are used.
Sunday, January 5, 2020
Astronomy 101 - Learning About Stars
Astronomers are often asked about objects in the cosmos and how they came to be. Stars, in particular, fascinate many people, particularly because we can look out on a dark night and see so many of them. So, what are they? Stars are massive shining spheres of hot gas. Those stars you see with your naked eye in the night sky all belong to the Milky Way Galaxy, the huge system of stars that contains our solar system. There are around 5,000 stars which can be seen with the naked eye, though not all stars are visible at all times and places. With a small telescope, hundreds of thousands of stars can be seen. Larger telescopes can show millions of galaxies, which can have upwards of a trillion or more stars. There are more than 1 x 1022 stars in the universe (10,000,000,000,000,000,000,000). Many are so large that if they took our Suns place, they would engulf Earth, Mars, Jupiter, and Saturn. Others, called white dwarf stars, are around the size of Earth, and neutron stars are less than about 16 kilometers (10 miles) in diameter. Our Sun is about 93 million miles from Earth, 1 astronomical Unit (AU). The difference in its appearance from the stars visible in the night sky is due to its close proximity. The next closest star is Proxima Centauri, 4.2 light-years (40.1 trillion kilometers (20 trillion miles) from Earth. Stars come in a wide variety of colors, ranging from deep red, through orange and yellow to an intense white-blue. The color of a star depends on its temperature. Cooler stars tend to be red, while the hottest ones are blue. Stars are classified many ways, including by their brightness. They are also divided into brightness groups, which are called magnitudes. Each star magnitude is 2.5 times brighter than the next lower star. The brightest stars now represented by negative numbers and they can be dimmer than 31st magnitude.à Stars - Stars - Stars Stars are primarily made of hydrogen, smaller amounts of helium, and trace amounts of other elements. Even the most abundant of the other elements present in stars (oxygen, carbon, neon, and nitrogen) are only present in very small quantities. Despite the frequent use of phrases like the emptiness of space, space is actually full of gases and dust. This material gets compressed by collisions and blast waves from exploding stars, causing lumps of matter to form. If the gravity of these protostellar objects is strong enough, they can pull in other matter for fuels. As they continue to compress, their internal temperatures rise to the point where hydrogen ignites in thermonuclear fusion. While the gravity continues pulling, trying to collapse the star into the smallest possible size, the fusion stabilizes it, preventing further contraction. Thus, a great struggle ensues for the life of the star, as each force continues to push or pull. How Do Stars Produce Light, Heat, and Energy? There are a number of different processes (thermonuclear fusion) which make stars produce light, heat and energy. The most common happens when four hydrogen atoms combine into a helium atom. This releases energy, which is converted to light and heat. Eventually, most of the fuel, hydrogen, is exhausted. As the fuel begins to run out, the strength of the thermonuclear fusion reaction declines. Soon (relatively speaking), gravity will win and the star will collapse under its own weight. At that time, it becomes what is known as a white dwarf. As the fuel further depletes and reaction stops all together, it will collapse further, into a black dwarf. This process can take billions and billions of years to complete. Toward the end of the twentieth century, astronomers began to discover planets orbiting other stars. Because planets are so much smaller and fainter than stars, they are difficult to detect and impossible to see, so how do scientists find them? They measure tiny wobbles in a starââ¬â¢s motion caused by the gravitational pull of the planets. Although no Earth-like planets have been discovered yet, scientists are hopeful. Next lesson, well take a closer look at some of these balls of gas.
Saturday, December 28, 2019
The Sun Also Rises Book Report - 999 Words
The Sun Also Rises: Long Form I. The Author The Author of this novel is Ernest Hemingway. Hemingway was born on July 21, 1899 and died on July 2, 1961. He was an American author and journalist, which relates to the book because in The Sun Also Rises the protagonist, Jake Barnes, is a journalist. He was also an ambulance driver in World War I which ties in with the book as well because Jake was a World War I veteran. Another thing that ties in the book from his personal life is that he was wounded, and in the novel as well he is wounded and that is how he had met Brett when she was taking care of Jake because he had gotten hurt during the war. II. Form, Structure, and Plot The novel throughout is organized in a chronological order, andâ⬠¦show more contentâ⬠¦I like to drink wine.â⬠He is a dynamic character because he changes his views on things throughout the novel. Robert Cohn: he is Jakeââ¬â¢s friend. He is Jewish, and he was a boxing champion. ââ¬Å"Robert Cohn was once middleweight boxing champion of Princeton. Robert seems to be both a static and dynamic character because of how he began to get mad with everyone but then in the end he apologized and kept on being the same person. Brett (Lady Ashley): she is Jakes lover throughout the novel even though at times it does not become very evident because she is with so many men. She is beautiful, charming, and sort of emotionally messed up. ââ¬Å"Brett was damned good-lookingâ⬠¦ She was built with curves like the hull of a racing yachtâ⬠¦Ã¢â¬ She seems to be a static character because she is always trying to get with different men and tells Jake about her problems she is having. Bill Gorton: He is also Jakeââ¬â¢s friend. He is also a veteran and a very heavy-drinker. He usually tends to be a person that just wants to have a good time. ââ¬Å"There was an upright piano in the far corner of the room beyond the wooden tables and Bill went over and started to play.â⬠He is also a static character because he is the same throughout the novel. V. Setting This novel was set in the post WWI time period. It took place in France (Paris), and other cities in Spain. The settings kept on going back and forth from France to Spain. The most important events occurred in Spain, such as the fiesta and bullfights.Show MoreRelated Hemingways The Sun Also Rises Essay1338 Words à |à 6 PagesHemingways The Sun Also Rises Hemingway sat down to write The Sun Also Rises on September 15,1925 and only six days later, the first draft was complete with the title of Fiesta. The first draft was almost a direct journalistic account of his experience in Paris and Spain, with the names of the characters corresponding to real people. After taking a break from it and writing The Torrents of Spring in order to break his contract with publisher Horace Liverwright, Hemingway returnedRead MoreThunder rides a black horse1100 Words à |à 5 Pages Introduction to Anthropology 01 This report is based on the book Thunder Rides a Black Horse written by Claire R. Farrer. This book is written in context of an indian group called the Mescalero Apache Indians. Their reservation and ceremonial grounds are based in the south-central part of New Mexico. The author is very familiar with this tribe as she claims to be like family with some of the members. She writes this book based on her visit to join in on one of their big traditionsRead MoreMao Zedong Of The Peasant Movement1005 Words à |à 5 PagesWritten Summary of Group 4 Presentation The Summary of Document 8.2 Brief Introduction: Document 8.2 is the first four sections of ââ¬Å"Mao Zedongââ¬â¢s Report on an Investigation of Peasant Movement in Hunanâ⬠, which was written by Mao Zedong when he visited Hunan province in 1927. In this document, from personal perspective, Mao argued the importance of the peasant issues, then described how the peasant associations became organized, how the peasants fought with the local tyrants and gentry, and how theyRead MoreAlternative Sources Of Alternative Energy Sources1704 Words à |à 7 Pagescareful, they will damage the environment and the atmosphere to a point beyond repair. Major factories and cities can begin to convert to cleaner energy sources and cut back on pollution tremendously. They can do this by harnessing energy from the sun, utilizing frequent gusts of wind, and by tapping into the heat of the Earthââ¬â¢s core. Fossil fuels such as coal, oil, and natural gas account for roughly 85 percent of total energy that is used in the United States. All three of these fossil fuels releaseRead More Character Brett Ashley in Ernest Hemingwayââ¬â¢s The Sun Also Rises1575 Words à |à 7 PagesThe Character Brett Ashley in Ernest Hemingwayââ¬â¢s The Sun Also Rises There is a common perception among casual readers--who hasnt heard it voiced?--that Ernest Hemingway did not respect women. The purpose of this essay is to examine one work in such a way as to challenge these heinous assumptions. Hemingways persona will be left alone. 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Morning Unless you are lucky enough to wake up when the sun rises or you have a rooster in your backyard, then getting out of bed to get to work in time could prove to be your first ordeal of the day. Without smart phones or alarm clocks to wake you up in the morning, you would have to rely on your internal clockRead MoreDoes Media Distort News? Essay1578 Words à |à 7 Pagesnewspapers, books, magazines, internet) regarded collectively. Its role in society is to inform the public, and keep us informed, about what is happening throughout the world as well as entertain us. It uses many platforms including internet, books, magazines, newspapers, television, when you walk down the street. It is all around us. It is there to make people think and encourages us to challenge and have an opinion about events and decisions that are happening and being made. But is it also used toRead MoreThe Importance Of A Social Worker For Five Children902 Words à |à 4 Pagespersonnel with the aim of alleviati ng the conditions of those in need of help or welfare.â⬠There have been many times in my life where I have been socially and economically disadvantaged. I remember my parents working from the rise of the sun to sundown, slaving in the hot sun, working very hard for a pittance in return. I do not want that life, my parents certainly did not want that life for me either, and I do not want our future to go through that. Because of this, I am fiercely dedicated to beRead MoreA Thousand Splendid Suns By Khaled Hosseini1421 Words à |à 6 PagesIntroduction: Khaled Hosseiniââ¬â¢s sophomore novel, A Thousand Splendid Suns, shares a setting with his previous novel, the turmoil of the recent decades of Afghanistan s existence. However, despite similar themes, Hosseini once again manages to craft a story that is as engaging as it is poignant, as compassionate as it is critical, and as thoughtful as it is visceral. Summary: However, when Lailaââ¬â¢s child is born, Aziza, and turns out to be a girl, Lailaââ¬â¢s relationship with Rasheed deteriorates
Thursday, December 19, 2019
Essay about The social issue of homelessness in NC
The Social Issue of Homelessness in North Carolina People drive or walk past a homeless person almost every day without thinking twice about the plight of that person or they may even unconsciously turn their heads the other way in disgust. Homelessness simply put, means without a home - therefore homelessness is an equal opportunity state that can happen to anyone. Even though we have seen some economic prosperity over the years, statistics show that the number of homeless remains very high. With this in mind, communities need to come together at the state, city, and individual level to come up with solutions to mitigate the spreading of this problem. The definition of homelessness varies depending on which organization you ask. Theâ⬠¦show more contentâ⬠¦It should be noted that there are different types of homelessness. Homelessness as a result of a natural disaster like Katrina is temporary since those individuals are only displaced for a short period of time. Circumstantial homelessness occurs when someoneââ¬â¢s circumstance change ââ¬â like loss of income, illness, or domestic abuse - that causes them to lose or flee from their home. Finally there is long term homelessness that applies to those individuals who have problems with substance abuse, people who choose to remain homeless because they have become accustomed to that lifestyle, and those individuals with mental health issues. Effects of Homelessness (Bodine, n.d). It is long term homelessness that tends to have a more negative impact on communities. As of January 1, 2011 a survey by the North Carolina Department of Health and Human Services found that 12,371 people identified as homeless individuals of which over 25 percent fell into the third type of homelessness (NC Department of Health and Human Services) and there are three major categories that drive this negative impact. The first category is healthcare. The cost of providing healthcare to the homeless is much higher than low income housed population since the homeless are prone to infectious and chronic diseases but do not have regular visits with the doctorShow MoreRelatedThe Homeless Are Homeless : A Middle Class Lifestyle After Marriage1654 Words à |à 7 Pagesat least four episodes of homelessness in the past three years (Doran). The reason there are so many homeless people now in the country is because of a very punitive and moralistic societal value we have about people who are homeless and in desperate need. (Tsemberis). The government should provide more adeq uate shelter because child homelessness is at an all time high in the United States, mental health issues are more common among homeless people, veteran homelessness is increasing throughout Read MoreInvestigation On Homelessness And Homelessness1322 Words à |à 6 PagesInvestigation on Homelessness ãâ¬â¬ Keileigh Proudfoot 9th October 2016 ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ ãâ¬â¬ Tutor: Mary Valerio Course: NC Social Care Level 5 Contents page Page 1.0 Introduction 1 2.0 Procedure Read MoreFor Many Years, I Have Gain An Interest Within The Area1216 Words à |à 5 PagesI will apply my study to understand the issues that are currently happing in the 21st century. While obtaining my bachelors in Social work, I was able to learn the basis of becoming a social worker in a general setting. I would like to extend the knowledge so I can become suitable and prepared for more specified areas of such as the medical, administration, and family care. 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(Surowiecki, 2008) It is also a meansRead MoreThe Veterans Administration ( Va )3569 Words à |à 15 Pagesthey expected to happen in some foreign land not at home. This paper endeavors to take an in-depth look at the VA and access and analyze some of its programs and policies to judge their effectiveness. With any large organization, there will be issues maintaining the set principles. As each agency strives to operate day to day under the mission established by the federal government and the Pentagon they soon realize that being a civilian working in the VA means service to country as the y seekRead MoreMajor Depressive Disorder And Cognitive Behavioral Therapy With Mindfulness4736 Words à |à 19 Pagesclient. A treatment plan will be formulated and will include the chosen practice model, goals of treatment, methods of engagement, contracting issues, methods of intervention, and termination. Evaluation strategies and follow-up will also be addressed. Finally, issues relating to the role of the social worker in continuum of care, including ethical issues and values, will be presented. Major Depressive Disorder According to Barlow (2008), major depressive disorder (MDD) is the most common depressiveRead MoreHistory and Moral Development of Mental Health Treatment and Involuntary Commitment10378 Words à |à 42 Pagesrepresents a constant change in the perception of mental illness. The following is a review of the history of mental illness and the treatments created through various times, including the emergence of mental illness as a diagnosis different from social deviance. Involuntary commitment was established to assist in maintaining safety for individuals as well as society and became a part of treatment for persons with mental illness. 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Wednesday, December 11, 2019
True Romance Essay Example For Students
True Romance Essay Once again, Quentin Tarantino outdoes himself. The movie True Romance was excellent. It presented real issues that some people are forced to deal with in their lives. The title of the movie is misleading. You would think this was going to be a love story. Actually it is, but unlike any love story Ive ever seen. Its filled with violence, action, blood, guts and gore. Like most other Tarantino movies it revolves around the violence we rarely see or experience in our lives. He also incorporates drugs and racism, hate and love and his usual corny way of portraying them. In Tarantino films, violence is presented in a totally different approach than movies like Rambo or Die Hard. Although you have the same amount of people dying, Tarantino seems to have this perverted and gruesome way of presenting it to his audiences. He always takes violence to the extreme. In the scene with the pimp he doesnt just shoot the pimp in the back or chest. He goes right for the gustohis balls! Another example of this is when Dennis Hopper was killed. We all knew what happened to him, but Tarantino makes sure he shows us the oozing bullet wound to his head. Some people think this is taking violence too far; however, acts of this nature happen in the real world every day. I guess this is his way of giving us a reality check. Shit like this happens to people. We are so sheltered in our comfortable little worlds we dont even realize this kind of stuff goes on. Variety. Isnt it supposed to be the spice of life? Well, Tarantino gets so damn spicy it can make you sweat bullets. What is it about violence that is so attractive to the general public? There are so many people who would rather see a violent movie than a movie filled with romance or adventure. If you were to compare the revenues from box office earnings Im almost positive the movies filled with blood and guts earn much more than other movies. Naturally, if a person in the movie industry knows this will make them mega bucks , they will continue to make movies like this to make more money. Tarantino tends to slide in a little racism in his flicks. Its pretty obvious its not the main topic, but it is apparent. Hopper was unique when he told the Sicilian guy his great, great, great, great grandmother had slept with a nigger and thats why he had dark skin and brown eyes. I think Hopper knew he was a goner and wanted to insult the hell out of the guy before he died! He was so casual about the whole thing. He just sat back smoking the dudes cigarette and blasting his family. There are so many people who say this kind of movie affects people in a negative way. They think it has an impact on criminal behavior. Thats bullshit. I have seen violence in movies and on television and I havent had the smallest inkling to go out and kill anyone or anything. I believe if a person has it in them to commit these kinds of acts they will do it regardless of what they see on T.V. or in the movies. Their moral upbringing or lack of one would be a bigger contributing factor than viewing a movie. Movies are made to entertain. The social issues they touch on are just that, issues. The controversy they create comes solely from the opinions of the viewers. Isnt that half the fun of watching a controversial movie? It gives our minds food for thought. It affords us the opportunity to discuss what we have seen with our friends. We can learn from listening to how other people perceive things. THAT is what makes a movie great!
Wednesday, December 4, 2019
Journal Of Accounting Organizational Change-Myassignmenthelp.Com
Question: Discuss About The Journal Of Accounting Organizational Change? Answer: Introduction Auditors independence refers to the independence of the auditors from all such sources whether internal or external that may have some financial interest in the company. These sources might influence the overall audit and cause the auditor to falsify the audit results. It is thus important that auditor must be unbiased and free from all such influence(Bena, Ferraira, Matos, Pires, 2017). It is very important for the overall validity of the audit engagement and helps in generating true and accurate results on the financial standing of the company. A lot of importance have been placed on making this fact clear and price that the auditor must be independent in his approach while conducting the audit of an entity. There are various risk elements that possess a great threat to the overall independence of the auditor. A detailed explain on the same is given below. Analysis Key audit risks refer to the risk that the financial statements may not be correct and fail to provide a true and fair view of the position of the company. This occurs when there are some material misstatements in the reports of the company(Alexander, 2016). The two aspects of audit risks are risk of material misstatement and detection risk. Audit risks carry great liability for the auditors of the company as the stakeholders depend on these audit reports to take vital decisions. It is the duty of the auditor to safeguard the company from any such risks and provide the most accurate result possible. The different areas of audit risks are self-review threat, where the auditor reviews the work that he has himself done. In this the independence of the auditor is greatly affected, as people tend to find no mistakes in the work that they themselves have completed. There are self-interest threats, where risk lies in the auditors own personal interest in maligning the engagement(Belton, 2017). Referral relationships and threats from partners and ex-employees can hamper the independence of the auditor. When the auditor provides advisory and other services to the client then also there is a risk of material misstatement occurring. And the most common are the relationship threats which are existent in close family relationships and business circle. It is thus needed that the auditor must declare their independence in such cases so that the overall audit results are not hampered or influenced because of any such relation or factor existing. In any case if the auditor is found taking undue advantage of his position then he must be penalized and should not be allowed to work on any such engagement ever again. If there are any such audit risks occurring then the auditor must place their safeguards and try to dissolve the scenario in a manner that the engagement is not hampered(Carlin T. a., Resisting compliance with IFRS goodwill accounting and reporting disclosures evidence from Australia, 2010). It is important that companies should check for the independence of the auditor before they are hired for any engagement and should see to it that the same is stated factually. This will help in increasing the confidence of the investors on the financials of the company. The point of discussion being, where is point in which the real threat to audit risks and auditor independence lie. This is to be understood that audit risks and auditor independence are closely related to each other. The more the auditor is involved with the client, the more chances are there of information solicitation and wrong doing. This increases the overall chances of audit risks. Thus, it is important that auditors should make their stand clear, and should try to make their stand clear while conducting an audit. In situations where there are more than one referrals they can have external auditors or reviewers to conduct some work. They should not accept such engagements in which they are having personal interest or their family members are involved(Chongsoo, Cheh, Kim, 2017). They should avoid working in multiple roles for the same client, for example if they are working as an auditor they should not provide advisory or financial services. It is also the responsibility of the law framing bodies to ensure the implications of the same and make sure that the auditors are functioning in an effective manner. As per the ICAEW, the most effective way to ensure the independence of professionals is to provide them a framework that they must follow and along with that there must be a blanket for non-financial services that should be out of the purview of independence(Choy, 2018). This will help in ensuring proper flow of services and proper security can be provided to the clients in the same manner. Often there are situations where the client wants the auditor to falsify the audit report in return to extra remuneration or monetary reimbursements. This is done to make the financial situation better for the investors so that more people end up investing in the same. But as an auditor the professionals must not indulge in such activities. They should conduct the audit and generate the audit report in such a manner that they are free from all kind of outside influence(Chron, 2017). They must provide the true picture of the company financials so that the people can take effective decisions based on the same. Based on the above analysis it can be said that auditor independence has a lot of importance and more than on paper it must be reflected in real life. This will prevent the companies from falsifying their reports and will also help in reduction of the overall fraud that might exist. They key areas have been highlighted in the discussion and special attention must be given to the same. Both the clients and professionals are held responsible in case there is any case of breach of independence and strict punishment is given(Flix, 2017). It is done to discourage the auditors from indulging in such activities and helps in making the overall process of audit more transparent, and accurate. It also gives an assurance to the investors on the authenticity of the audit reports and improves their overall credibility and standing in the market. Failure of Enron, Worldcom and Lehman Bros Enron once considered to be one of the most innovative companies of the world was shook by the financial crises when it was caught in the accounting scandal which led to the drastic drop in share prices from $90.75 to $ 0.26 within a day and then the company was named bankrupt. All this started when Enron was involved in the dot com bubble and with the view to built the high speed broadband netwroks invested hefty amounts of hundreds of millions of dollars was invested in the same(Defond Lennox, 2017). IT used to in the markets most volatile segment and later on realised that the investment made was a waste and not commensurate with the benefits derived out of it. In 200, when the recession started, the investor and shaeholders were taken aback as they found themselves on the losing side with declining market capitalization. It used to value its securities on market value instead of the book value, a technique used to hide the financial losses. Also, as soon as any asset was taken o r the plant was built, it used to recognise the profits on account of it, even though it was not profitable. All this led to the inflation of the profits(Heminway, 2017). Arthur Andeerson which was one of the Big 5 at that time in US was known for high standards and quality risk management offered to stamp the annual accounts of Enron despite poor accounting policies of the company as the partners of the accounting firm were closely related with the officials of Enron. They all were involved in the scandalous changes of conspiracy, securities fraud, insider trading and wrong reporting to the investors. This led to the introduction of the Surbanes Oxley Act where the auditors were required to report as per SOX guidelines and and this also ensured transparency. Worldcom Scandal The telecommunication gaint is US, Worldcom gave rise to the second largest accounting scandal in the world when it was reported with accounting misstatements in the financial statements worth $ 9 Bn. This was on grounds of the escalated proifts which never existed and expense improperly recorded in the books as capital expenses to increase the profits in the books. This was not being supported by the relevant accounting supporting statements and the company was also involved in the manipulation of the reserves on account of uncollected amounts from customers and pending lawsuits. This deferment of the expenses led to the spread of the expnses over the period instead the same should have been booked in the same year itself(Grenier, 2017). This inflated the Worldcom Profits. Again the auditors involved here were the Arthur Anderson and Mr Sullivan wa accused of holding back the information with himself and sharing the profits. The major lesson that can be learnt here is again the audi tors were not transparent and they were the one who should have highlighted this issue at the beginning itself but it was a result only of the investigation process. The companys CEO Bernie Ebbers had the dream of growing company at the double digiyt growth rate and has made a large number of acquisitions in the process but could not see the revenues and profits rising as the result of it. So, he went with the idea of manipulating the accounts such that the increased profits are being shown in books of accounts(Knechel Salterio, 2016). The auditors said that they were misled by the Worldcoms Sullivan and admitted that they informed the companys board earlier itself that the audit information received by not trustworthy and also one of the statements said that the line costs information was not being disclosed to the auditors. Also, the company admitted that the expenses inappropriately recorded in 1999 and 2000 would be reinstated in 2001 and 2002 annual accounts but the same was not recorded in the annual statements. The share prices as a result fell below $1 in the history of Worldcom as a result(Visinescu, Jones, Sidorova, 2017). Lehman Brothers It is one of the largest Bankruptcy case filed in the history till date. It was the 4th largest investment bank in US at that time. Its collapse during 2008 was one of the largest and swept around $ 10 trillion in the market capitalization. In 2003 and 2004, it made the acquisition of five major mortgage lenders including BNC mortgage and Aurora loan services. As a result of this, the company made huge profits first up and the decision looked great increasing the capital markets by 56% between 2004 and 2006 and the firm reached the stock price of $ 86.18, which was a record at that time but by 2007, it came to notice that many lenders have defaulted on their payments on subprime mortgages and it was at 7 years high as a result of which the share prices starte falling but the company continued to give a growth estimate quarter on quarter and never tried to lower its portfolio of mortgage(Sonu, Ahn, Choi, 2017). Backed by the high degree of leverage, the share prices again started fal ling as it fell by 48%. IT also went into repurchase agreements with Cayman Islandss banks with the view to sell toxic assets to banks and then repurchase it back fooling the investors and credit rating organizations. As a result of this book cooking they has $ 50 Bn more cash in books and reduced toxic assets. This again was an accounting gimmick or a fraud being used to report wrong financials and deceiving the investors and the same was not caught in the scruting by the auditors(Saeidi, 2012). This fraud gives the lesson to the auditors that the materiality aspect of the transaction needs to be checked properly and the same should be supported and justified by relevant supportings which was left to be audited by the auditors. All in all it can be said that these accounting firms need to increase the level of checking and materiality, follow and check whether the SOX procedures have been implemented and tranaparency is being ensured(Sithole, Chandler, Abeysekera, Paas, 2017). References Alexander, F. (2016). The Changing Face of Accountability. The Journal of Higher Education, 71(4), 411-431. Belton, P. (2017). Competitive Strategy: Creating and Sustaining Superior Performance. London: Macat International ltd. Bena, J., Ferraira, M., Matos, P., Pires, P. (2017). Are foreign investors locusts? The long-term effects of foreign institutional ownership. Journal of Financial Economics, 21-35. Carlin, T. a. (2010). Resisting compliance with IFRS goodwill accounting and reporting disclosures evidence from Australia. Journal of Accounting and Organizational Change, 6(2), 260-280. Chongsoo, A., Cheh, J., Kim, I. (2017). Do Value Stocks Outperform Growth Stocks in the U.S. Stock Market? Journal of Applied Finance and Banking, 99-112. Choy, Y. K. (2018). Cost-benefit Analysis, Values, Wellbeing and Ethics: An Indigenous Worldview Analysis. Ecological Economics, 145. Chron. (2017). five-common-features-internal-control-system-business. Retrieved december 07, 2017, from https://smallbusiness.chron.com/five-common-features-internal-control-system-business-430.html Defond, M., Lennox, C. (2017). Do PCAOB Inspections Improve the Quality of Internal Control Audits? Journal of Accounting Research, 55(3), 591-627. Flix, M. (2017). A study on the expected impact of IFRS 17 on the transparency of financial statements of insurance companies. MASTER THESIS, 1-69. Grenier, J. (2017). Encouraging Professional Skepticism in the Industry Specialization Era. Journal of Business Ethics, 142(2), 241-256. Heminway, J. (2017). Shareholder Wealth Maximization as a Function of Statutes, Decisional Law, and Organic Documents. SSRN, 1-35. Knechel, W., Salterio, S. (2016). Auditing:Assurance and Risk (fourth ed.). New York: Routledge. Saeidi, F. (2012). Audit expectations gap and corporate fraud: Empirical evidence from Iran. African Journal of Business Management, 6(23), 7031-41. Sithole, S., Chandler, P., Abeysekera, I., Paas, F. (2017). Benefits of guided self-management of attention on learning accounting. Journal of Educational Psychology, 109(2), 220. Sonu, C., Ahn, H., Choi, A. (2017). Audit fee pressure and audit risk: evidence from the financial crisis of 2008. Asia-Pacific Journal of Accounting Economics , 24(1-2), 127-144. Visinescu, L., Jones, M., Sidorova, A. (2017). Improving Decision Quality: The Role of Business Intelligence. Journal of Computer Information Systems, 57(1), 58-66
Thursday, November 28, 2019
Tradeoffs free essay sample
Tradeoffs This year, about 580,350 US residents are expected to die of cancer ââ¬â thatââ¬â¢s nearly 1,600 people a day. Cancer is the second most common cause of death in the United States, exceeded only by heart disease. Cancer accounts for nearly 1 out of every 4 deaths in the United States. Drug prices are becoming a developing issue for every disease, especially for people who are uninsured. But the cost of cancer has shown an alarming increase and is steadily growing. As a list of more advanced biotech drugs become available the cost for treatment rounds costing $100,000, or even more, are no longer a rarity. With each new drug means more research which in turn means more money. Patientsââ¬â¢ living longer is great news but also means they need treatment for longer periods which also increases cost. Prices reflect manufacturersââ¬â¢ years of research and development investment. Also, many drug companies donate a certain amount of medication to prescription-assistance programs that provide them for free to patients who otherwise couldnââ¬â¢t pay. We will write a custom essay sample on Tradeoffs or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This is a great program but is also extremely costly and directly contributes to the cost. Government involvement can be a deterrent to the rising cost of cancer drugs of its programs are implemented correctly. This cost can be accomplished through disease prevention and wellness programs. The government Healthcare Reform has proven, so far, to be beneficial. As of May, more than 600,000 people have taken advantage of the Affordable Care Acts. These increases mean profits for the insurance companies, which can translate to lower premiums, since the new insurees pay into the system but require fewer health services. Health insurance companies reported record profits for the first quarter of 2011. Also, 46% more small businesses than in 2010 offered health care benefits, according to a Kaiser survey. More insured small business employees means fewer bankruptcies, better credit scores and higher consumer demand. All of these gains can indirectly contribute to lower costs of cancer drugs. This allows the companies to spend more, which in turn boosts economic growth. The major economic problem stems from the limits of how much we can actually spend on healthcare, and this lack of resources requires choices. For every type of treatment, there is a clear cost. This cost is further complicated with what we can and will spend to meet these services. We all need and expect the best medical care, and even if we wish to spend more on these services, we are restricted as to how much of our disposable income we can spend on it. However the amount we do choose to spend, we want to spend it proficiently so that we get the most medical care for whatever given amount we can afford. We all want proper medical care when we need it and when we want it. The mixture of these vital qualities will always bring about issues with the most arguable issue being cost.
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