Advanced Financial Reporting & Regulation Essay

Advanced Financial Reporting & Regulation - Essay Example However, the proponents of the fair value accounting method argued that this accounting technique was just a messenger and not a major cause or contributor of the subprime mortgage crisis. The paper critically assesses the arguments that have been placed regarding the fair value accounting method being a main reason for the occurrence of the subprime mortgage crisis or the GFC. The idea as to whether the fair value accounting method has actually contributed to the financial crisis or has only played a constrained role in exacerbating the intensity of the financial downturn is evaluated and assessed by taking into consideration the views and arguments presented by different scholars and academicians in their literary works prepared and presented in this topic. The use of empirical evidences and descriptive information are made to analyze and assess the role of the fair value accounting method in the financial crisis. The second part of the report includes a comparison of the advantages and disadvantages of the fair value accounting method with the traditional accounting methods like the deprival value method of accounting, historical cost method of accounting and the r eplacement cost method of accounting. The report is concluded with a suitable conclusion in which it is highlighted that the role of the fair value accounting practice is much limited as a major reason for the occurrence of the Global Financial Crisis of 2008. The role of the fair value accounting technique in the financial crisis of 2008 is a controversial and highly debated topic. The fair value accounting method is the generally used accounting standard in the United States of America and has been specified in the FAS 157 in the year 2007. This accounting method includes the terms of accounting in which the different kinds of financial assets like the mortgage backed securities are priced and valued as per the current market value or mark to market value instead

Effects of H-1B Visa Program on Employment and Wage in the United States Essay Example for Free

Effects of H-1B Visa Program on Employment and Wage in the United States Essay The United States is the most powerful country in the world. Its dominant culture, military, and economy make it the most influential nation across the globe. The power of the US doesnt only come from its native citizens but also from the foreigners who come to its shores every day to work and live there. These people play a very significant role in driving the US economy. A number of national programs have been developed in order to influence the influx of these people into the US. One of those programs is called the H-1B visa program. The program, which allows foreigners to work in the US, has critical effects on various sectors of American society, but especially the economy. Based on the data that have been so far collected, it is clear that the H-1B visa program, in terms of employment in the technology sector, is important in maintaining the status of the country as a leader in science and technology. However, the H-1B visa program may also have negative effects on the wage of native citizens because they would have to compete with the low wages of foreign workers. Many companies in the US needed temporary workers, so the H1 category of non-immigrants was created under the Immigration and Nationality Act of 1952. Unlike immigrants, non-immigrants only stay in the US temporarily to accomplish a specific purpose, for instance, education or work. The current H1-B visa program of the United States was created through the Immigration Act of 1990 and the amendment of the 1952 act. The result of the amendment was a program that allows an employer to temporarily hire a foreigner to work in the US provided that hes under the category of non-immigrants. Also, the worker must have a specialty occupation or be a fashion model with exceptional ability and merit. The law describes a â€Å"specialty occupation† as something that requires theoretical and practical application of a specialized body of knowledge. The worker must also have a bachelors degree or the equivalent in specialties such as business, biotechnology, education, health care, medicine, and sciences. The H1-B program currently limits the number of foreign nonimmigrant workers in the US to 65,000 per year (Bartik et al. 134). H-1Bs cap has not always remained the same, however. Congress increased it to 115,000 in 1998 for fiscal years 1999 and 2000. Then in 2000, Congress increased it even further to 195,000 for the 2001 fiscal year. It was maintained during 2002 and 2003, and was slashed to 65,000 again from 2004 onward. Not all foreign workers are affected by the cap, however. The H-1B Visa Reform Act of 2004 states that foreign workers employed by institutions of government research organizations, institutions of higher education and NGOs are exempt from the cap. Also, a separate cap of 20,000 exists on petitions that are filed on behalf of foreigners with masters or higher degrees earned in the US (Bartik et al. 135). Recently, lobbyists composed of universities and members of the technology industry are pushing for a huge increase in the annual cap of H-1B visas. They argue that H-1B visas otherwise known as â€Å"guest worker visas† serve a crucial role in driving the economy, especially in the high technology sector. According to them, there is a systemic shortage of American engineers and scientists in the country. There is a very high demand domestically for these highly skilled workers and the small supply cannot fill that gap. The only way to solve this problem therefore is through the import of foreign workers through the H-1B visa program (Hira et al. 150). These lobbyists argue that they will be forced to resort to outsourcing jobs to foreign engineers and scientists in their home countries if the H-1B cap is not increased. They also claim that the visa program actually serves as a tool for the country to gather the best and the brightest highly skilled workers in the world. This is supposedly a result that is to be expected if the cap on the H-1B visa program is increased (Hira et al. 150). There are many evidences for the advantages brought about by hiring foreign workers in the technology sector. For example, a 2008 study by the National Research Council looked at the effects of hiring H-1B workers by large US companies Texas Instruments, Qualcomm, Motorola/Freescale, Intel, and IBM. Of the five companies, IBM employed the most number of H-1B workers, granting almost 4,000 in five years. Most applications in the company stated a range of earnings of about $82,072. This was considerably bigger than the other four companies average minimum earnings. The researchers thought that the applications were for jobs that were not chip-related since IBM had become a software company from a hardware company (National Research Council and National Academy of Engineering 152). It is clear from the example above that foreign workers in the technology sector do indeed get attracted to the United States through H-1B visas. IBM was hiring more foreign workers than anybody else in the group, and these people were earning higher. However, there are still many â€Å"experts† that love to criticize the H-1B visa program. John McCain and Edward Kennedy defended the H-1B visa program in 2006. The two senators supported the immigration bill that passed the Senate and insisted that their bill required employers to search for workers in the US first. However, their bill actually didnt have any of these provisions (Hira et al. 152). Indeed, its a common misconception that the current law instructs US companies to look for workers in the US first. Many government officials also have this incorrect belief. Senator Norman Coleman, for example, says that he supports the issuance of H-1B visas as long as a number of conditions are met. One, the employer must show that there is not enough US workers qualified for the position; two, that the employer has not laid off a US worker 90 days before or after hiring a foreign worker; three, the employer must demonstrate that they tried to hire US workers before foreign workers; and finally, that the recruitment of H-1B workers will not have adverse effects on the waves, working conditions, and job opportunities of US workers. Even then Senator Barack Obama thinks that the H-1B policy aims to exhaust all means of recruiting US workers before foreign workers. He believed that hiring H1-B workers should be a last recourse for American employers (Hira et al. 152). The truth is however, that the provisions mentioned by the two people above actually dont exist for the majority of employers who use the H-1B visa program. Even Obamas wish that employers should hire foreign workers as a last option is not practiced in the real world (Hira et al. 152). Also, according to market indicators, there is not enough evidence of a systemic shortage of resident engineers and scientists in the US, one of the main arguments of lobbyists for the increase in H-1B cap. Also, earnings and wage growth have been moderate and more or less the same as other professions. The unemployment rate, while it sharply increased during the dot-com bubble, has now fallen. Researchers have also supported the idea that there is little evidence of shortage in high technology jobs. Private surveys and public data are also conflicting when it comes to determining shortages. Trade surveys show there are indeed shortages, but public data indicate the opposite (Bartik et al. 137). Determining shortages in scientists and engineers is a real problem because any increase in the number of H-1B visas issued by employers alone is not indicative of a systemic shortage. Other factors contribute to perceived shortages, for example, the growing significance of foreign students in American institutions. These are foreign students who remain in the United States after they graduate to convert their student visa to a working visa. Other equally important factors include: economic growth, cyclical demand in IT industries, especially during the 1990s, and even backlogs in the application process for permanent visa. Employers today are constantly hiring H-1B workers, but that is clearly not enough reason to increase the cap on H-1B visas. Aside from the effects it will have on the wages and earnings of American workers, the increased cap will create some problems in the permanent residency part of immigration because there are already backlogs there (Bartik et al. 137). The influx of H-1B workers into the United States has been going on vigorously since the 1990s. During that time, about 30 million people were able to stay in America through nonimmigrant admissions. The fastest growing nonimmigrant admissions fall under categories where a foreigner first applies as a temporary foreign worker or student. He then tries to find a US sponsor to able to obtain the immigrant visa. Between 1992 and 1998, the number of foreign students admitted into the country with F1 visas rose from 53% to 565,00. The number of trainers and temporary workers also increased from 128% to 372,000 during that period of time (OECD 35).

Adults in Salingers Catcher in the Rye :: essays research papers

The adults that Holden appreciates As a general consensus, children are raised to trust adults. However there are some sinister and eerie adults out there that exploit the childish and test that trust. Children are taught that the principal is their friend and that the police men are there to help. As a child one is taught, protected, and cared for by their parents. As those parents become older, there is a regression where the parent almost becomes the child and the child the parent. In J.D. Salinger?s novel, The Catcher in the Rye, the adults whom Holden Caulfield appreciates are childlike and helpless. While Holden was attending Pencey Prep, he formed a relationship with his history teacher, Old Mr. Spencer. Mr. Spencer was really the only teacher that Holden liked. While Holden was getting ready to go into Mr. Spencer?s bedroom, he said, ?His door was open, but I sort of knocked on it anyway, just to be polite and all.? (7). This showed his respect for Mr. Spencer and his privacy. It also showed that Holden had manners but had enough of a friendship with Old Spencer to talk with him in his own home. However, Holden felt a little uncomfortable with the situation when he actually saw Mr. Spencer, started talking to him, and felt a lecture coming on. Holden often thought about Mr. Spencer. While walking to Mr. Spencer?s room, Holden thought, If you thought about him too much, you wondered what the heck he was still living for?. But if you thought about him just enough and not too much, you could figure it out that he wasn?t doing too bad for himself.? (2-3). Holden saw Mr. Spencer as childlike and helpless which made it easier for him to form a relationship with an adult. Holden also found the same qualities that aloud him to appreciate certain adults in the old Secretary at Phoebe?s school. When Holden was arranging for his note to be passed on to Phoebe, he started talking to the secretary in the office. When the lady said that Pencey was a good school, Holden thought, ?Even if I?d wanted to, I wouldn?t have had the strength to straighten her out. Besides, if she thought Pencey was a good school, let her think it.? (202) Holden didn?t want to correct the old lady and embarrass her. At the same time, Holden thought, ?You hate to tell new stuff to somebody around a hundred years old.

Computers and I :: Personal Narrative Writing

Computers and I Computers are linked to almost every aspect of life. I was shown computer technology back in my early grade school years. Teachers would shuffle a pack of twenty kids at a time into a confined room filled with the new computer technology. The only thing I remember using computers for all through elementary school was to play Oregon Trail, which was like an un-evolved Nintendo game. I didn’t understand why all the adults guarded and respected the computers as if precious materials when all I used them for was to play games. Little did I know that the computer would create an unavoidable effect on my life. As I grew older and wiser I began to understand the practical use of the computer technology. I began typing my reports instead of trying to write them really really neat in pen. The typing and printing technology turned out to work really well for school related purposes; it was much easier and quicker than writing in pen. Computers weren’t foolproof though and I figured that out in high school when I accidentally erased one of my lengthy reports. Luckily I had decided to write my first draft the old fashioned way: with a pencil. Despite the forethought typing a whole report over again was still time consuming and aggravating. There was no way around re-typing my report either; as computers became increasingly available teachers demanded typed papers. Computers had already made changes in the way I spent my time. An aspect of computer technology that I found most amazing was the Internet. In college I began to utilize the Internet for purposes of self-education. The Internet has helped me gather much reference material for my artwork as well as opening me up to the whole world of contemporary art that existed on the Internet. I was exposed to a countless number of artists of whose work I would have never been able to see without the use of Internet. Now when I have a general guestion about a subject I simply look it up on the Internet. I began to realize that the Internet opened up a new world for everyone with access to it. Eventually everyone was using computers and the Internet on a regular basis.

Ethics in Action: Suspected Impairment Essay

Ethics is defined as the discipline dealing with what is good and bad and with moral duty and obligation. For the physical therapy assistant, it means a standardized conduct geared towards proper and successful patient care. The physical therapist assistant follows a certain standard for ethical conduct to effectively aid physical therapists and to be sensitive and efficient health workers. In this situation, we are dealing with the case of a 35 year old stressed-out woman with an odd behavior, who later on presented with slurring of speech. Slurring of speech can be due to many factors but majority of which are associated with cerebrovascular disease or stroke. In this situation, we are going to apply the American Physical Therapy Association Standards of Ethical Conduct for the Physical Therapist Assistant. The seven standards of ethical conduct seem to show us the values of an ideal physical therapy assistant: respect, trustworthiness, competence, compliance to legislations and responsibility. In analyzing this case, we realize various problems. At the start of the session, the patient was behaving oddly. Although she claims to be euphoric, signs of lethargy still seemed apparent. Later on, she succumbs to this lethargy or generalized body malaise by falling asleep on the mat. Later on, she manifests slurring of speech, which may be due to some problems. The most common cause of slurring of speech is stroke. Other factors that may cause this manifestation are electrolyte imbalance caused by strenuous physical activity, side effects of medications or it is simply due to drowsiness. However we see an imminent danger; she lives far from the clinic where you live and wants to drive all by herself—in her condition. We quickly realize a possible outcome—the danger of meeting accidents on the road in her condition. Recognizing our problem, some of our values as physical therapist assistants are challenged. The situation challenges our respect towards our client. Respect is defined as consideration and the avoidance of interfering with or intruding upon. In this case, we are breaching against the right of the patient to make her own decisions. We seem to not respect this right because we want to have things done our own way and not hers. Thus, this situation does not only concern our patient; it also concerns the physical therapy assistant. In this situation, we are having a patient-health care professional relationship. In turn, this situation challenges us to practice the rest of the 7 standards of ethical conduct. This situation motivates us to practice trustworthiness towards our patient. In this sense, we should show our patient how worthy we are of their trust towards us. We should show them that we are concerned about their health and well-being. We should explain to our patient that we think driving in our condition poses a hazard to her and makes her prone to road accidents. By doing this, we should tell her our real intention—that we are just after her health and safety. Standard 6 of American Physical Therapy Association Standards of Ethical Conduct states that a physical therapy assistant shall make judgments that are commensurate with their educational and legal qualifications as a physical therapist assistant. Judgment per se means â€Å"good sense†, discernment, understanding, the act or mental faculty by which man compares ideas and ascertains the relations of terms and propositions. In this situation, we discern that our patient should not continue driving her own car alone. In our understanding, she is not fit to do it and we are subjecting the patient to harm and injury, as she is prone to accidents in her present condition. Also, it is in our discernment that she should go to the nearest hospital to have her neurological status assessed and her health problems addressed properly. By doing these things, we are fulfilling Standard 7, which states that a physical therapist assistant should protect the public and the profession from unethical, incompetent and illegal acts. In addition to the above values, this situation requires moral sensitivity, moral judgment, moral motivation and moral courage. All these individual processes are needed in our situation. Morality means conformation to the principles of good conduct and virtue. By being morally sensitive, we mean that we are easily affected and moved towards betterment and towards good conduct. In our case, we are moved towards helping our patient and towards helping her attain good health and well being. We are moved towards preventing her from being alone, and we are moved towards accompanying her to the nearest medical hospital so that proper medical attention shall be given. Moral judgment means discernment towards the good of the patient. We discern what is best of her. We anticipate the accidents she will be at risk of and the many problems that may be etiologies of her neurological deficit. Motivation is defined as a process which incites to action and the determination of the choice or movement of will. In that case, moral motivation is also applicable in this situation. We are moved towards helping our patient; our action is for her good health and safety. Moral change is also needed in our situation. It is the process of encountering danger and difficulties with firmness and with intrepidity, for a good and noble cause. We have the courage to act for the well-being of our patient and we go beyond our duties to ensure her safety. This situation does not only involve the physical therapy assistant and the patient, it also involves the family members. In this case, it is proper that we talk to the other family members about the patient’s condition. It is essential to differentiate four terms in this context: the terms problem, dilemma, distress and temptation. A problem is defined as a question proposed for solution, decision or determination; a knotty point requiring clarification. A dilemma means a situation requiring a choice between equally objectionable alternatives; a problem that seems incapable of being resolved satisfactorily. Distress means extreme pain, anguish of the body or mind; that which causes suffering, affliction, calamity, adversity, misery and calamity. The term temptation means an enticement to an act which is evil, immoral or unwise. Yes, our situation is a problem by itself; it needed immediate solution and decision. It is also a dilemma because it poses a choice—whether to let the patient do what she wants or to accompany her to the nearest hospital beyond our duty hours. Our situation is not necessarily a distress but is a prelude to suffering, injury and misery. Certainly, this is not a temptation per se but temptation lurks for every health care professional who counts his or her duty days and does not extend his or her duty in terms of danger or calamity. The dictum for every health care professional is: Love your work. Temptation to do things our way and to be selfish and insensitive to the needs of our patients is a barrier to every health care professional. There are some health care professionals who punch in at 8 AM and go home at 5PM, regardless of what happens to their patients. These are the type of health care professionals who think of their jobs as routine and who takes these jobs as just a job for financial security, but is not their career. A career is something a person puts his or her heart into. As health care professionals, we must think of caring for patients as a career, not as a routine job. This problem, obviously, is not treated with silence. It entices action of the health care professional who cares deeply for his or her patients. In this sense, the situation requires a moral action, brought about by moral sensitivity, judgment, motivation and courage.

Economics Simulation Essays

Economics Simulation Essays Economics Simulation Paper Economics Simulation Paper In today’s work world it is makeup of diverse individuals which strives towards a successful outcome. However, working for a small or large company, individuals are looking forward to meeting the needs of the organization. In order to meet the needs of the organization, employees are to be in rivalry with hourly and salary wages. In additions to the hourly and salary wages, individuals are often attracted by organization benefits which usually consist of employee searching for discounts in 401k retirement plans and cheaper life insurance. The attractions to employees are health care insurance benefits, which usually includes comprehensive medical, dental and vision plans for individuals and their family members. Therefore, health care is considered a goods and service which has a high demand in the economics refer to consumers making rational choices to maximize utility, the intentions of this paper is to clarify the beneficial health care plans offered to Castor Collins Health as a group resulting from the Simulation review. In this selections which are chosen will clarify the Maximized profits and minimized risks from the reasons for choosing certain planning. Organizations are requiring health care benefits which are important to employees. It is beneficial to both employers and employees if any accidents, injury, burglary, or fire. It maintains the employee status for the organization. Economics play an immense role in selecting the correct health care plans which the organization ensure the plans offered accommodate their needs, meeting the standard which is requirements, and are cost-efficient. Corporate owners recognize the importance of developing a plan with the health care insurance provider which can maximize profits and minimize risks for the organization. The HMO’s is known as Health Maintenance Organizations, which preferred as a health plan used by different organizations. Castor Collins Health has chosen a representative for the company, to address the status which was selection against the other. In, 1999 Castor Collins was founded as a health plan as a regional HMO in the state of Pantome. The health insurance and health care services which are provided to over 100, 000 enrollees through its statewide network which consists of physicians and hospitals, which utilizes a capitation model to pay its network of health care providers. The company is not satisfied with the current number of enrollees and is looking to increase its numbers significantly. The Vice President and Strategy and Financial Planner at Castor Collins, goals are to come up with some type of beneficial health insurance plan to meet the growing needs of the organization. The organization was approached by two groups of individuals which providing health insurance. However, between the groups there are a difference in employees by 600 people and a maximum premium willing to pay by five hundred dollars. Both groups do not have employer insurance; however, they both must pay for their own insurance. â€Å"The group ConstructIt consists of 550 men and 450 women between the ages of 26 through 42 years. About 60 percent of the group is married† (University of Phoenix, 2013); therefore, the spouse and children of the employees must be considered when making a decision. â€Å"Thirty two percent of the individuals at ConstructIt have a work profile which consist of great physical activity, twenty five percent consist of moderate physical activity, and the remaining forty three percent is highly involved in sedentary activities† (University of Phoenix, 2013). Because the health care market is complex due to uncertainty on the supply and demand side, moral hazard, and adverse selection, the process of decision making for selecting proper health plans are more complex. The plans offered to Castor Collins Health are significant; however, only one can be chosen. Option one, Castor Standard does not cover pre-existing and option two, Castor Enhanced does cover pre-existing medical conditions. Castor Enhanced Minor is a third option which is customized. Therefore, about 38% of the employees are not a major risk for the organization. However, 18% of the employees smoke cigarettes and 13% suffer from respiratory illness. Although, obesity is a risk factor for the organization which about 39% of the employees suffer from obesity and are considered a risk for other illnesses which is connection to obesity. The simulation shows ConstructIt to have less medical issues with their employees than E-Editor as a low rationale for pre-existing conditions; however, the Castor Standard plan appears to be beneficial since it does not cover pre-existing medical conditions for the organizations. Order to charges the premium the Annual Earnings is $3428 for ConstructIt, which is much less than E-Editors. This risk is lower for providing this plan and unfortunately the returns are as well. It seemed to be a better option for the employees. Therefore, no plans were selected for the other group because the rates would have been immerses higher because the employees had more issues and conditions. The premiums would have been immerses higher and they would be more reluctant to pay them. Therefore, in the health care industry it is very demanding; however, it is often difficult to meet the needs of each individual when providing benefits in the workplace. Healthy employees bring success to the workplace. If employees can maintain their health on the job, it would be sufficient to provide beneficial insurance packages to each individual and their family members. This simulation helped to enhance the decision making process for a enormous company by determining which insurance plans were appropriate based on the needs of the organization and its employees.

Free Essays on A&P IT System

What problems did A&P have with its business? A&P was once the most famous supermarket chain in the United States and it had one time the second largest revenue reported followed by General Motors in 1950. However, by 1990, this famous old America supermarket faced depression in its business mainly due to serious competition and its old information system, which could not keep up with new trends of business. Strong competitors such as Safeway, Kroger and Wal-mart have their excellent information system to help their decision makers to manage inventory efficiently and to serve customer better. In the other hand, A&P still had a number of serious problems. â€Å"Its obsolete information technology infrastructure was composed of a complex web of stitched-together old legacy systems. The company was primarily using 12- to 20-year-old software running on two large mainframe computers.† (Laudon, Pg 67). Loli explained, â€Å"We had extremely antiquated systems, from finance to merchandising to store and warehousing sys tems.† (Laudon, Pg 67). Basically, they had outdated software and hardware for current business transaction. According to moor’s law, every 18 month or 2 year, computer speed and capability double. At the same time, we could apply this law and same concept to computer software. Every such amount of time, computer software’s capability and speed also double, because computer hardware and software are designed to cooperate mutually. In fact, there was such a tremendous improvement and development in the software world as well as computer hardware for last few decades. It is needless to say that there was a big change and huge gap between now and twenty years ago. Therefore, A&P would have outdated its software and hardware in the information technology compared to it new competitor such as Wal-mart. It would bring inefficiency in managing inventories and responding with consumer’s demand to A&P. Information ... Free Essays on A&P IT System Free Essays on A&P IT System What problems did A&P have with its business? A&P was once the most famous supermarket chain in the United States and it had one time the second largest revenue reported followed by General Motors in 1950. However, by 1990, this famous old America supermarket faced depression in its business mainly due to serious competition and its old information system, which could not keep up with new trends of business. Strong competitors such as Safeway, Kroger and Wal-mart have their excellent information system to help their decision makers to manage inventory efficiently and to serve customer better. In the other hand, A&P still had a number of serious problems. â€Å"Its obsolete information technology infrastructure was composed of a complex web of stitched-together old legacy systems. The company was primarily using 12- to 20-year-old software running on two large mainframe computers.† (Laudon, Pg 67). Loli explained, â€Å"We had extremely antiquated systems, from finance to merchandising to store and warehousing sy stems.† (Laudon, Pg 67). Basically, they had outdated software and hardware for current business transaction. According to moor’s law, every 18 month or 2 year, computer speed and capability double. At the same time, we could apply this law and same concept to computer software. Every such amount of time, computer software’s capability and speed also double, because computer hardware and software are designed to cooperate mutually. In fact, there was such a tremendous improvement and development in the software world as well as computer hardware for last few decades. It is needless to say that there was a big change and huge gap between now and twenty years ago. Therefore, A&P would have outdated its software and hardware in the information technology compared to it new competitor such as Wal-mart. It would bring inefficiency in managing inventories and responding with consumer’s demand to A&P. Information ...