Pros and Cons of Wind Power free essay sample

Muhammad Meteorology Lab Professor Edward Perantoni The Pros and Cons of Wind Power There is no perfect energy source. Each and every one has its own rewards and drawbacks. In this paper I will explore the advantages and disadvantages of wind power. Today the world needs to look at the different natural energy sources available to us. Global warming could be due to our energy craving lifestyle, while considering this possibility let’s take a look at some of the pros and cons of wind power. It’s been said that wind energy can be a viable solution to most of our home energy bill problems. In addition to aiding us in decreasing our expenses on home energy, it is also environmentally friendly. Unlike many energy sources that release chemical substances into the atmosphere, wind generators only use wind power. It has no other byproducts that can damage our atmosphere causing ozone thinning and many other related problems. We will write a custom essay sample on Pros and Cons of Wind Power or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The only thing that the wind generator will produce is the cheap energy that you can use to power the appliances in your house. A few of the major advantages of wind power are that it’s clean, renewable, and relatively cheap. In addition to being friendly to the surrounding environment, no fossil fuels are burnt to generate electricity from wind energy. Wind turbines take up less space than the average power station. Windmills only have to occupy a few square meters for the base; this allows the land around the turbine to be used for many purposes, for example agriculture. Wind turbines can also come in a range of different sizes in order to support varying population levels. Newer technologies are making the extraction of wind energy much more efficient. The wind is free, and we are able to cash in on this free source of energy. While the advantages of wind energy tend to be global the disadvantages are more of a local nature. (1) The main disadvantage regarding wind power is down to the winds unreliability factor. In many areas, the winds strength is too low to support a wind farm. (2) Wind turbines generally produce less electricity than the average fossil fuelled power station, requiring multiple wind turbines to be built in order to make an impact. (3) The noise pollution from commercial wind turbines is sometimes similar to a small jet engine. This is fine if you live miles away, where you will hardly notice the noise, but if you live within a few hundred meters of a turbine this is can be a major disadvantage. I feel that there should be government involvement in the research and development of wind power projects. I believe that the government should aid in the development of new projects, construction planning, maybe provide some sort of certification of equipment, as well as providing loans and tax credits towards the building of wind power farms and turbines. A wind vane could be useful in helping to determine the direction of the wind in order to conserve energy.

Free Essays on Antigone

Creon’s hypocrisy in Antigone In Sophocles, Antigone, there is a new king of Thebes, no longer Oedipus, but Oedipus’ brother-in-law Creon, who is now the current leader and king of Thebes. The opening of the play is a private discussion between Antigone and Ismene, daughters of the exiled King Oedipus who have been entrusted to the care of the protagonist, Creon. Oedipus not only had two daughters, but he had two sons as well, Polynices and Eteocles. When the play begins Oedipus’ two sons have already been killed. Polynices and Eteocles act as the focus of the central conflict throughout the play. The controversy in Antigone is over the dead, and the rights of the dead. The conflict begins when Creon gives Eteocles proper burial rights, and refuses to bury the other son, Polynices. Creon not only refuses to bury Ploynices but also sets a decree to forbid anyone from burying the body. Antigone, sister of both Eteocles and Ploynices, disobeys Creon’s ruling to not bury her brother all the while knowing that the penalty is death. Creon sentences Antigone to death in a rocky vault below the ground for attempting to bury her brother. The controversy therefore surrounding Creon becomes is he a hypocrite for burying the living and not the dead? Creon sentences Antigone to death early in the play after learning that she has broken the law and buried Polynices. He gives her the death sentence with no hesitation. He is strong in his convictions and believes that she has broken the law and that she will therefore suffer the harshest of consequences. Haemon, Creon’s youngest son, and Antigone’s groom to be is outraged by the fact that his father is extremely stubborn in his decision to kill his fiancà ©. Haemon and Creon get into fierce an argument, hurling accusations at one another. Haemon eventually says to Creon, â€Å"You really expect to fling abuse at me and not receive the same?† (1353, lines 850-851) Her... Free Essays on Antigone Free Essays on Antigone Antigone’s Character Sketch World Literature Honors Antigone, the character for which the play was named, is a very complex character. She seems to change directions all throughout the play and there is never one point in which you know exactly what she will do because she is just that unpredictable. This unpredictability also makes her seem very hypocritical because she will say something and then turn on a dime and say the complete opposite. Antigone’s character is very intriguing strictly due to the fact that she keeps you guessing. The following will show the many variations that her character shows throughout the play. There are several points in the play that Antigone seems very heroic, especially when she is speaking to Creon about her reasoning for attempting to bury her brother. She reflects every aspect of a hero by trying to sneak out not once, but twice and then even more by standing up to Creon. All of these heroics, however, in a very short time make her l ook very selfish. After Creon tells her the story about her brother’s bodies, she takes the stance that she must bury her brother for herself. That all but erases the thought of her, as a hero because all of her actions that were thought to have been done for Polynices were only done to satisfy her own needs. The one characteristic of Antigone that seems to be constant throughout the play is her stubbornness. From the beginning of the play when she sneaks out to bury her brother after Creon had specifically told her not to, all the way to the end when she is given the opportunity to marry Haemon and go on living but forces her own death. She always seemed to fight everything for as long as possible, never taking the easy way out if it compromised her beliefs. In the end it was her stubbornness that ultimately killed her. Antigone also attempts to come across as the so-called ‘innocent victim’. When she is first found out and Creon confronts her, she pushes the f. .. Free Essays on Antigone The Significance of Divine Law – Does it Provide Justification for Crimes against the State? The importance of divine law versus the adherence to the laws of the state is a major theme explored throughout the play, Antigone. Creon (the king of Thebes) denounces Polyneices (Antigone’s dead brother) as a traitor, for he battled against his own city in a war. He has left the dead body of Polyneices unburied and out in the open as carrion. The king then says that anyone who tries to give Polyneices a proper burial will be stoned to death. Antigone, inspired by divine law, makes the decision to bury her dead brother’s body; both she and Creon provide justification throughout the play as to why they chose to act in the ways they did. In the beginning of Act II, the Sentry (one of Creon’s guards) enters to tell Creon that Polyneices has been buried. The idea that the gods may have buried the body is brought up by the Chorus; however, Creon dismisses the idea, claiming that the gods would never honor a traitor with a burial. Creon then orders the Sentry to find the person who has buried the body. Later in the act, the Sentry enters again, this time with Antigone. The Sentry tells Creon that Antigone is responsible for giving Polyneices the rites of burial. Creon asks Antigone if this is true. Antigone informs him that, indeed, she is the one who has buried Polyneices. Then, for the remainder of the act, Antigone and Creon engage in a verbal argument. Antigone’s argument is intended to justify her actions in taking responsibility to bury her brother. Creon aims to justify his decision to let Antigone’s dead brother rot. He also wishes to validate his choice to punish Antigone. Both An tigone and Creon base their actions on their beliefs of what is right and wrong. Thus, their quarrel arose because of their contrasting morals. The reader may feel moved to decide who is right. Act II throws out some ideas that sh... Free Essays on Antigone In the play, "Antigone" written by Sophocles, Antigone and Creon battle a philosophical war based on their beliefs of what is right and wrong. The conflict arose when the principles that backed up their actions clashed with each other, making it a contradiction between morals. Antigone's side of the conflict held a much more heavenly approach, as opposed to the mundane road that Creon chose to follow. The difference in the beliefs, opinions, and moral values of Antigone and Creon were seen through out the play. Antigone felt that Creon was disregarding the laws of heaven through his edict. After she is captured and brought to Creon, she tells him, "Your edict, King was strong, but all your strength is weakness itself against the immortal unrecorded laws of God. They are not merely now: they were, and shall be, operative for ever, beyond man utterly." Antigone's staunch opinion is one that supports the Gods and the laws of heaven. Her reasoning is set by her belief that if someone is not given a proper burial, that person would not be accepted into heaven. Antigone was a very religious person, and acceptance of her brother by the Gods was very important to her. She felt that "†¦I will bury him; and if I must die, I say that this crime is holy: I shall lie down with him in death, and I shall be as dear to him as he to me." Creon's order was personal to Antigone. His edict invaded her family life as well as the Gods. In Antigone's eyes, Creon betrayed the laws of the Gods by not allowin g her to properly bury her brother, Polynices. She believed that the burial was a religious ceremony, and Creon did not have the power to deny Polynices that right. Antigone's strong belief towards the burial of her brother is what, in many cases, led her to her death by the hands of Creon. Since Creon was ruler, whatever he said was the law, and since Antigone broke this "said" law Creon was in a sense to blame, because if there was no law Antigone wo... Free Essays on Antigone Creon’s hypocrisy in Antigone In Sophocles, Antigone, there is a new king of Thebes, no longer Oedipus, but Oedipus’ brother-in-law Creon, who is now the current leader and king of Thebes. The opening of the play is a private discussion between Antigone and Ismene, daughters of the exiled King Oedipus who have been entrusted to the care of the protagonist, Creon. Oedipus not only had two daughters, but he had two sons as well, Polynices and Eteocles. When the play begins Oedipus’ two sons have already been killed. Polynices and Eteocles act as the focus of the central conflict throughout the play. The controversy in Antigone is over the dead, and the rights of the dead. The conflict begins when Creon gives Eteocles proper burial rights, and refuses to bury the other son, Polynices. Creon not only refuses to bury Ploynices but also sets a decree to forbid anyone from burying the body. Antigone, sister of both Eteocles and Ploynices, disobeys Creon’s ruling to not bury her brother all the while knowing that the penalty is death. Creon sentences Antigone to death in a rocky vault below the ground for attempting to bury her brother. The controversy therefore surrounding Creon becomes is he a hypocrite for burying the living and not the dead? Creon sentences Antigone to death early in the play after learning that she has broken the law and buried Polynices. He gives her the death sentence with no hesitation. He is strong in his convictions and believes that she has broken the law and that she will therefore suffer the harshest of consequences. Haemon, Creon’s youngest son, and Antigone’s groom to be is outraged by the fact that his father is extremely stubborn in his decision to kill his fiancà ©. Haemon and Creon get into fierce an argument, hurling accusations at one another. Haemon eventually says to Creon, â€Å"You really expect to fling abuse at me and not receive the same?† (1353, lines 850-851) Her... Free Essays on Antigone Antigone, in Greek legend, was the daughter of Oedipus. When her brothers Eteocles and Polynices killed one another, Creon, king of Thebes, forbade the rebel Polynices’ burial. Antigone disobeyed him, performed the rites, and was condemned to death for what she had done. Now the question arises, "Did Antigone take proper action?". Was it just to go against her Uncle Creon’s wishes and go ahead and bury the brother that was to be left out for the vultures? Would it be better to leave the situation how they are? Could she go on about life trying not to think of how she left her own blood out in the open? Could Antigone act as if she did not care? Afterlife to the Greeks back then was far more important and sacred than living life itself. Everything they did while they were alive was to please the many gods they worshipped. They built temples for their Gods, made statues to symbolize their Gods, and had a different God to explain things that we now say are an act of mother nature. It may seem rather foolish to us when we study their beliefs and compare them to modern day beliefs. I am sure the Greeks would have considered us to be heathens and put us to death for our ways and beliefs. I think Antigone thought her act was courageous and valid. I myself would not have risked my life to ensure a proper burial for anyone, whether it was in modern times or back then. To go against authority and break the laws given by the monarch was a plain senseless act. When someone is dead we now know there is nothing else anyone or anything can do for them at that point. It is too bad the Greeks did not believe that. As I stated before, afterlife to the Greeks was more important than living life itself. The Greeks seemed to spend most if not all of their lives preparing in some way for their afterlives. The lives they led back then were consecutive to please the Gods. I feel that she deserved her punishment because of the fact that she knew what ... Free Essays on Antigone Antigone According to Aristotle, â€Å"Tragedy, then, is an imitation of a noble and complete action, having the proper magnitude†¦; it is presented in dramatic, not narrative form, and achieves, through the representation of pitiable and fearful incidents, the catharsis of such incidents† (Golden 11). Using the criteria established by Aristotle in Poetics, â€Å"Antigone† by Sophocles displays the qualities of a tragedy. The principle character engages in an immense moral struggle (ending in death). Catharsis is accomplished through the catastrophic consequences of the main character’s actions. Throughout the play, the viewer experiences pity and fear for a number of the characters. In the opening scene, a conversation between Antigone and her sister Ismene introduces us to the folly that has befallen their family. They allow us to see that prior to their current circumstance, they have greatly suffered. Their mother has committed suicide. Their father, King Oedipus, has cast himself to exile. The gods have had no mercy upon their lives. War broke out between their two brothers, Polyneices and Eteocles. Polyneices invades against the city of Thebes, to regain the throne. Eteocles, who was the legitimate heir, goes to war with his brother. During battle the two brothers were slain, â€Å"by their hands dealing mutual death† (1.16). Not only must Antigone and Ismene survive their brothers, they learn that Polyneices will be shamed for all eternity if the law of Creon is to be obeyed. By the declaration of Creon, their uncle, and King, Polyneices will not have an honorable burial, but will be left to be fed upon by animals. We learn later in their conversation that Antigone has no mind to obey the law of a mortal man, but will cling to the laws of the Gods. It is here where she is introduced as the protagonist. She lets her plan of righting the wrong that is her brother’s fate be known to her sister. In return... Free Essays on Antigone One Woman’s Struggle for Equality Throughout the history of ancient Greece, women were treated as second-class citizens in every possible aspect. They were forbidden to own much property, they couldn’t vote, or even debate political issues. Women were supposed to obey men, and agree with everything they said and did. They weren’t even supposed to leave the house without a man’s permission. Their job was to stay home and rear the children. However, in the play Antigone, Antigone goes against the beliefs and defies the powerful tradition of male domination. In the play, Antigone’s life was filled with pain and sorrow. Her father had past away and then her two brothers Eteocles and Polnices fought and ended up killing each other. Even after all of this, Antigone had even more pain to deal with. Although her brother Eteocles had been given a proper burial, which which the gods expected, her brother Polnices had not. This was due to the fact that Antigone’s uncle Creon had become king and forbid and decreed against the burial of Polnices. (Sacks 22) Even though Antigone knows it is against the will of the king, she goes and gives Polnices a proper burial anyway. She acted out of obligation and duty to her family, other women, and the gods. Antigone didn’t fear death, but instead faced it with great bravery and strength. She defied a male establishment that was ruled by her own uncle, who was devoted to his law. She did so to remain devoted to her own values and beliefs. During this act of direct defiance of Creon’s rule, she says to him, â€Å"Sorry, who made this edict? Was it God? Isn’t a man’s right to burial decreed by divine justice? I don’t consider your pronouncements so important that they can just overrule unwritten laws of heaven.† (Sophocles 12) Antigone speaks out to Creon to show that she values the laws of God rather than the laws of Creon. This out lash and purposeful defiance of King Creon is an abs... Free Essays on Antigone The play â€Å"Antigone† is a tragedy of Greek Mythology. This story is about a young girl named Antigone and her struggles with a king named Creon, who is the newly titled King of Thebes. Antigone is a daughter of the former king Oedipus. Oedipus was not raised by his original parents, so when he is a man he unknowingly killed his father and married his mother. They had four children together; Antigone, Isemene, Polyneices, and Eteocles. When Oedipus becomes aware of his deeds he put out his own eyes, and laid himself down to die. â€Å"Antigone† is the recollection of his two daughters, Antigone and Isemene, of how their two brothers died. After Oedipus is dead, Polyneices and Eteocles battle each other for the thrown. They are both killed in battle. The next in line for the thrown is Creon. Once he is king, he gives a proud and proper burial to Eteocles, but puts out an order to everyone in Thebes that no one is to burry Polyneices because he was seen as a traitor. He was to be left in the spot where he died for the dogs and vultures to eat his corpse. Antigone is troubled by this ruling because she has pride for her brother, and doesn’t want him or his spirit to be shamed. She also does not want his rotting corpse to offend Zues, the ruler of all the gods. So she set upon her journey praying she is not discovered while committing the act. Once the news of Polyneices’ burial gets to Creon he orders the capture and execution of the culprit. Antigone is captured and sent to locked away in a tomb where she could either die or find a way to escape. Then Haimon, the son of Creon and husband to Antigone, enters the story. He pleads with his father to spare the life of Antigone, but is not successful. Creon is also given warning by an old, blind, prophet named Teiresias to let her free from death. Teiresias said, â€Å"These are no trifles! Think: all men make mistakes, but a good man yields when he knows his course i... Free Essays on Antigone Sophocles, â€Å"Antigone† is relevant for twenty-first century America. The relevance is that as American citizens we need to stand up for what we believe in no matter what the consequences, as well as to know why we believe what we believe. The play also causes readers of twenty-first century America to look at our leaders and ask whether or not the right president is in power to lead our country at this present time. Standing up for what you believe in is a very interesting issue. Many questions arise with that statement. What do you believe in? Why do you believe it? Would you be willing to stand up to the authorities over you if they went against what you believed? These are all questions that are very relevant in today’s society, especially with my generation. A lot of the modern youth of today don’t know what they believe, or why they believe it. The youth of America wouldn’t be willing to stand up for much of anything due to a fear of looking unintelligent when asked what they were standing up for and why. Antigone knows that the decision that Creon made regarding her brother Polyneice’s burial was unjust and is willing to stand up for what is right. Creon is burying one to desecrate the other Eteocles, they say, he has dispatched with proper rights as one judged fit to pass in glory to the shades. But Polynieces, killed as piteously, an interdict forbids that anyone should bury him or even mourn. He must be left unwept, unsepulchered, a vulture’s prize, sweetly scented from afar. That’s what they say our good and noble Creon plans: And now he’s coming here to publish it and make it plain to those who haven’t heard. Anyone who disobeys will pay no trifling penalty but die by stoning before the city walls. (345) Antigone was willing to stand up to the king no matter what the penalty. In today’s society many individuals prefer to do what is popular rather...

Nilson Mandela Essay Example | Topics and Well Written Essays - 750 words

Nilson Mandela - Essay Example During the early years of South Africa, racial discrimination was so apparent in this country because of the apartheid policy. This system provided inequality among its citizens and blacks were deprived of equal opportunities for work, housing, education and political power. The apartheid policy which was referred to as â€Å"separate development† in 1950 separated the blacks from the whites, enforced segregation in public facilities, and separate educational standards. The mounting pressures from the international community led to the dismantling of the apartheid policy in 1990, and eventually, the release of all black prisoners that included Mandela. (Robinson, Jr. n.d.) Nelson Mandela was so much opposed in this system and sought to end it by becoming a leader of several groups and movements to go up against the British system. For this, he was charged with activism and treason and was sentenced to life imprisonment. For several times, he was offered his freedom in exchange of promise that he would renounce his anti-apartheid ideals and violence but he refused. When he was released from prison on February 11, 1990, it was shown that he and his delegation agreed to the suspension of armed struggle. Robinson, n.d. said that when the South African Constitution was reformed in 1994, a general free election was held wherein; Mandela was the first democratically elected President of South Africa who served the country from May 10, 1994 to June 1999. His term legally ended the apartheid policy and put the racial discrimination to rest. In what ways did the efforts of Gandhi affect Mandela? Mandela was influenced by Mahatma Gandhi because of the parallelism on their beliefs on freedom struggles through non-violent process. Although born in India, Mahatma was an adopted citizen of South Africa and was one of those who shaped the liberation movement. Mandela followed Mahatma’s strategy of non-violent protest up to a point when the passive resistance can no longer stand the brute force of the oppressor. At first, sabotage was used because it did not mean loss of life, but later on they used militant force because Mandela believed that â€Å"force is the only language that imperialist can hear; and that no country became free who did not use force†. Mahatma also conceded to arms when necessary. Mahatma said: "Where choice is set between cowardice and violence, I would advise violence... I prefer to use arms in defense of honor rather than remain the vile witness of dishonor ..." Violence and nonviolence are not mutually exclusive; it is the predominance of the one or the other that labels a struggle. (â€Å"A tribute to Nelson Mandela† 2011) What parallels can be drawn between Mandela and Martin Luther King, Jr.? The two shared the same vision of emancipation of the blacks in their own countries; the blacks in South Africa, and the blacks in America. They are both aspirants of non-violent demonstration of protests and h ave gathered inspiration from Mahatma Gandhi. Both succumbed to prosecutions, arrests and subjected to personal abuse. Nonetheless, they were unaffected by the pursuits of government authorities and emerged as leaders of the people, steadfast in their desire for equality of men. Martin Luther King was recognized for his efforts on the civil rights movement, while Mandela was justified when he was elected as President of Sout

Automotive Technologies and the Environment Research Paper

Automotive Technologies and the Environment - Research Paper Example The automobiles are the prime cause of creating more carbon monoxide, nitrogen oxides and unburned hydrocarbon. Whereas, the diesel engines are infamous for black smoke and gas turbines for the emission of soot, due to such reasons the automobiles are termed as one of the major sources of air pollution (Blarigan 1-19). Advancement in technologies has led to the creation of more dependence on vehicles for individuals’ primary means of transportation. As a result, the demand for vehicles has reached a new height in recent times, which in turn would increase the adverse effect on the environment. In this regard, traditional internal combustion technology will require fundamental development in order to achieve less emission of pollutants. Moreover, there is a major propensity that the adverse impacts of greenhouse gases can create multifaceted obligations if traditional internal combustion technology is being used (Ogden, Williams and Larson 7-27). Correspondingly, a prudent remedial measure can be achieved through an effective use of advanced technologies in the field of automotive engine and fuel technology, which will create less dependence on petroleum (Richard, â€Å"5 Technologies that Make Internal Combustion Engines Better†). Technology plays an imperative role in improving internal combustion technology through utilizing fuel saving technologies in the engines, along with direct injection, cylinder deactivation, turbochargers and variable valve timing and lift. Alternative automotive technologies can be referred to the advancement in the traditional internal combustion system through an increasing use of alternative fuel such as hydrogen, biodiesel and more effective technologies such as electrical and fuel cell vehicles. Effective use of alternative automotive technologies can act as a pioneering factor in reducing the emission of CO2 and energy

Indian Accounting Standards: Barriers and History

Indian Accounting Standards: Barriers and History Introduction In the year 2005, European Union made it mandatory for all the companies which were listed have to comply with International Financial Reporting Standards (IFRS) requirements when presenting their financial statements. This marked the beginning when International Accounting standard Board (ISAB) was professed as â€Å"legitimate’’. Ever since then IFRS has spread swiftly across the world. Initially there were few hindrances like by the end of year 2004 â€Å"full text of endorsed IFRS was not even available in several EU languages’’. This research examines the evolution and obstacles to convergence of Indian Accounting Standards to IFRS starting 1st April 2011 when all the listed companies in India, will be required to present their financial statements in accordance with IFRS regulations. This research also highlights the need for the country like India, to converge their Local GAAP to IFRS. American Writer Mark Twain once commented on  India and said  Ã¢â‚¬Å"the cradle of the human race ,the birthplace of human speech ,the mother of history ,the grandmother of legend, and the great grandmother of human speech of the tradition.’’ India is now seen as one of the fastest growing economies in the world. The increase of number of Indian companies being listed at various stock exchanges may it be NASDAQ, NYSE or LSE, the takeovers of companies like Corus by TATA or the exponential increment of Foreign Direct Investment in the country does indicate that India is now the destination where everyone wants to be a part of it. The strong economic growth, technological advancements, inflows of foreign exchange and the ever-increasing interest of almost every nation to be a part of this growth embraces the requirement of a common language in financial statements. (Purvis, gernon, and Diamond [1991]). Various studies done by researchers have concluded that â€Å"principle based standards are better enforced than rule based† and this becomes one of the reasons why harmonisation is becoming more and more essential. As far as advantages and disadvantages in adhering a common accounting rule there are still concerns within a country leave apart the issue of international convergence (Ray Ball, 2006). Only time will tell whether this convergence really serve the purpose or it was just a decision made in haste to be a part of so called IFRS â€Å"brand names’’ countries. IFAC Compliance Programme IFAC was founded in 1977 with New York as its Headquarters. Its initial purpose was â€Å"the development and enhancement of a coordinated worldwide accounting profession with harmonised standards†(brennan,1979). Presently it is â€Å"a global organisation for the accountancy profession† and as at 10th August 2009 IFAC has 158 members from 122 countries representing 2.5 million accountants. â€Å"Its formal mission is stated as being â€Å"To serve the public interest,IFAC will continue to strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high quality professional standards ,furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. To carry out this mission ,we work closely with our member bodies and regional accountancy organisations and obtain the input of regulators, standard-setters, governments and others who share our commitment to creating a sound global financial architecture†(IFAC,2006). IFAC does not set International Financial Reporting Standards (IFRSs) are not set by IFAC rather these are set by International Accounting Standards Board (IASB) . The IFAC Board formed â€Å"the Member Body Compliance Program† to ensure that all the members adhere to the standards set by IFAC for its membership. The primary objective of which was to encourage members and strive for improvement in this area of compliance. The IFAC Compliance program is overseen by the Compliance Advisory Panel. The primary objective of Compliance Advisory panel is to make sure that the IFAC compliance program is properly implemented as well as properly operated by the staff members of IFAC. Statements of Membership Obligations The IFAC Board through its Statement of Membership Obligations (SMOs) issue guidelines for the members to assist in implementation of â€Å"International standards† which are issued by IFAC and International Accounting Standard Board (IASB). The motto of SMOs is to provide pre-requisites for â€Å"quality assurance† and to investigate any disciplinary actions against any members. All the IFAC members also have to participate in a program which is in three parts. The main purpose of this programme is that it â€Å"seeks to understand whether and how the SMO requirements are being fulfilled†.  The information from this program helps the compliance committee to evaluate whether the members have prudently adhered to all the SMO requirements. These responses by the Members are taken on a periodical basis. Any changes in â€Å"legal and regulatory environment† or any other development made by any member is to be informed to this committee. This information is also updated in a questionnaire which is available online, by all  the members and if there are any changes  than the members are supposed to inform  the compliance committee which publishes these updated responses on IFAC website. Part 1 of this questionnaire is â€Å"Assessment of the Regulatory and Standard-Setting Framework†.  This Questionnaire provides information  from its members about their â€Å"regulatory and standard-setting framework in their jurisdiction†. Part 2 is â€Å"SMO Self Assessment† which requires members to fill  up a â€Å"self assessment questionnaire† which indicates how the members have incorporated or  implemented  international standards which are issued by IFAC and the IASB. This questionnaire also helps the committee to know whether all the members have adhered to professional standards set by the governing bodies. Part 3, of the questionnaire is about â€Å"Action Plans†. This questionnaire requires that members to â€Å"to develop action plans, including identifying tools, resources, and regulatory changes to address areas identified through the Part 2 self-assessment†. Part 1, Part 2 and Part 3 questionnaires are accessible to public at large. Literature Review â€Å"Harmonization, standardization, and uniformity are all terms used in the literature and in previous research† (Iordanis N.Floropulos, 2006). According to Van der  Tas (1988): â€Å"Materially measurable harmonization is an increase in the degree of comparability and means that more companies in the same circumstances are applying the same accounting method to an event or giving additional information in such a way that the financial reports of more companies can be made comparable.’’ Harmonisation can be understood as a procedure by which the gap between different accounting practices are reduced (Doupnik,1987). Sir David Tweedie, Chairman of International Accounting Standards Board said â€Å" If they all use the same methods and the accounting for one transaction is the same in Sydney, as in Seattle, as in Strasburg, and in Sheffield , then they will know where they are, and there is a demand for that type of certainty.†(FEI 2001). Mark T.Bradshaw and Gregory S.Miller(2007) also reiterated the same and argued that the evidences are in favour of a single set of Accounting Standards which will â€Å"increase the comparability of accounting information across the countries that differ economically, politically ,and culturally†. Emphasising the need for a â€Å"common set of accounting standards† IASB, laid three broad objectives: a)  Improvement : Improvement in existing standards, b)  Convergence : Reducing the gap between different accounting standards followed in different geographical regions, c)  Leadership : Addressing issues not resolved and developing new standards( Geoffrey Whittington,2005) â€Å"The principles behind the adoption of International Accounting Standards by different countries have always been the subject of controversy in accounting literature† (D.Zeghal, K.Mhedhbi, 2006).India’s decision to converge to IFRS is perceived by many researchers as premature decision. Although harmonisation of accounting standards not only enhances the quality of financial reporting, increases the comparability of financial statements but without considering of â€Å"country specific environment factors† the logic/reasons for such convergence will be forfeited. Talaga and Ndubizu (1986) insisted â€Å"that a country’s accounting principles must be adapted to its local environmental conditions†. In fact, Perera(1989a) went much ahead and stated that â€Å"the accounting information produced according to developed countries is not relevant to the decision models of less developed countries†. Case studies by different researchers with respect to developing countries have not reached any consensus whether the convergence or so called â€Å"follow the Bandwagon approach† for IFRS’s will have or is having any positive effect on economic growth. It is yet to be seen that whether India will adopt IFRS or will converge its accounting standards to IFRS. Larson (1993) studied the economic growth effect of African countries with and without these standards. His results show a positive correlation in economic growth rate with adoption of IFRS’s when adapted with â€Å"country’s local condition†. But Woolley (1998) researched the effect of such convergence or adoption of IFRS’s in Asian countries and he concluded that there are â€Å"no significant differences in the economic growth rates†. This again emphasises the fact that researchers have distinct opinion on whether IFRS adoption results in better economic growth or does not have any significant role. Researchers like Wolk, Francis ,and Tearney (1989) argued that ,harmonisation of accounting standards is â€Å"beneficial for developing countries because it provides them with better-prepared standards as well the best quality accounting framework and principles†. Chamisa (2000) studied the â€Å"usefulness of IAS’’ for developing countries. In his case study of Zimbabwe, he argued that these standards do have a positive impact on the emerging financial markets in the developing countries. â€Å"Economic conditions are a major determinant in the development of a country’s accounting system† D Zeghal, K Mhedhbi (2006). No doubt with the present economic growth in India  which is presuming better than in any other developing nation, IFRS will definitely boost this growth. India, by adopting IFRS gives a platform for itself where the financials can be compared easily with the peers across the globe.  According to Alhashim and Arpan (1992), who argued that â€Å"environmental forces influencing accounting are economic forces, social forces, the legal system, culture, and the political system†.   Though the legal structure or political system or culture might have an impact of financial reporting but there are other factors which have greater impact than these. One of these can be the education standards of the professionals in a country. As IFRS are more principle based so lots of prudence will be required from the professionals .  Cooke and Wallace (1990) added to these and argued that factors such as Size of business, education level, history of country, level of wealth, their development of financial markets may have influence on accounting standards. Accounting standards are governed by economics and politics( Watts,1977 ; Watts and Zimmerman,1986) so convergence has more or less enhanced integration of markets and politics across the borders (Ball,1995). D Zeghal, K Mhedhbi (2006) gave five hypotheses on the basis of these environmental forces. In his first Hypothesis he argues that if the country economic growth increases then the chances of adoption of the International Accounting Standards increases. This hypothesis correlates with the present status of a country like India which is exponentially growing. To maintain this growth rate it needs to be in line with global standards which will increase it â€Å"legitimacy†. As a result of which the foreign investments will increase. In the second hypothesis he argues that the probability of adoption of IFRS increases with the increase in education level. This simply means that there is a positive relationship between educational level and the competence of the professional accountants. This hypothesis indicates that â€Å"in countries where the educational level is low and expertise is weak, there is a real barrier to the adoption of IAS†.  This infers that if a country wants to adopt IFRS then it needs to strengthen its educational level. This raises few concerns if test this hypothesis with the current situation in India where there is scarcity of experts who have good knowledge of IFRS. In his third Hypothesis which states that if a developing country has â€Å"high degree of external economic openness it will be more inclined to adopt IAS†. India being one of the fastest growing nations with increasing foreign investments is an ideal case for adoption of IFRS’s as per this hypothesis. Sir David Tweedier, IASB Chairman restating uniformity of accounting standards argued â€Å"As the world’s capital markets integrate, the logic of a single set of accounting standard is evident. A single set of international standards will enhance comparability of financial information and should make the allocation of capital across the borders more efficient. The development and acceptance of international standards should also reduce compliance costs for corporations and improve consistency in audit quality.† Abdelsalam and Weetman (2003) argued that a factor like â€Å"familiarity and language† seems to favour countries which are Anglo-American because of obvious reasons. One being Anglo-American predominantly had a greater influence in the formulation and development of IASB and the other being, English being language of communication. Chamisa (2000) found that he anticipates that the developing countries which have â€Å"Anglo-American culture† will find it easier to adopt IFRS. This becomes the Fourth Hypothesis. In his Fifth and final hypothesis D Zeghal and and K Mhedbi states that developing countries which have capital markets are most likely to adopt/converge to IFRS. This hypothesis emphasises the need and why India as a country should adopt IFRS. With the present scenario where all capital markets are hitting new lows, Indian markets are performing far better than any other markets across the globe. But one should always In a recent report by world bank, it has been reported that Asian countries are recovering from the present financial crises.  Research done by Adhikari and Tondkar (1992) showed the similar results, that adoption of a â€Å"particular accounting system† is effected by the existence of capital market. Adhikari Tondkar (1992) specifically argued that â€Å"country’s level of economic growth has a positive effect on the development of accounting system and practices†. L.L.Rodrigues, R.Craig(2007) in their research by using â€Å"Hegelian dialectic concept of thesis, antithesis and synthesis† gave  innovative approaches for convergence of  local accounting standards with IFRS’s. They went on to and argued that â€Å"in modern society, the global harmonization of accounting standards might be regarded as uncontroversial, unremarkable, and inevitable†. Hegel in his â€Å"theory of dialectic† laid a concept which states that â€Å"contradiction is regarded as the root of all change† (hegal, 1969). He argued that change is inevitable and brings in a new structure or a concept( a thesis) which always have contradictions, which is always opposite to what stated (antithesis) but which brings in something new which is in-between both the concepts(synthesis). Referring to this concept L.L.Rodrigues, R.Craig argued that A thesis to be a â€Å"support for globalization of accounting† and Antithesis can be said to be â€Å"conflict area† that means opposing globalization of accounting. As a consequence of thesis and antithesis another view is generated this is referred as synthesis. They outlined few proposals which arose due to thesis and antithesis.  In one of the proposals they argued that all the companies should follow their national accounting standards and prepare their financial statements accordingly. At the same time these companies should also enclose few annexure in the form of reconciliation with the International accounting standards (hoarau, 1995). In their second proposal they argued that countries should â€Å"seek regional harmonization of accounting standards† (European Union or ASEAN countries). Analysing the â€Å"regional paradigm† of harmonisation of accounting standards, Saudagaran and Diga (1997, p.2,16-7) claims that in 1997 European Union supported the idea of regional harmonisation and also in the year 1992-1993 AFA â€Å"pursued regional  harmonization as a policy objective†. Referring to The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) which is an â€Å"an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing,  governance, ethics and  shari’a standards for Islamic financial institutions and the industry†. These standards â€Å"are either mandatory or used as guidelines by the regulators in.the kingdom of Bahrain, Dubai International financial centre ,Jordan, Lebanon, Qatar, Sudan and Syria (http://www.aaoifi.com/overview.html). These arguments are in favour of â€Å"dual standards†. Also many countries have adopted IFRS but not for all companies rather they have two tier system. One for big corporate houses and the other for small and medium-sized entities (SMEs). Because it is the cost factor which is bothering these smaller entities. But this view is not supported by the big international accounting firms, who caution that â€Å"a two standard system, where some companies continue to use national GAAP ,may be difficult to maintain in the long run.[and] governments and national setters [should] develop formal convergence plans to eliminate these dual standards†(Larson and Street ,2004,p.113). L.L. Rodrigues and R.Craig also argued that companies might think full adoption of IFRS but practically it will more like to have â€Å"ostensible compliance† that is â€Å"in the form of window dressing to appease capital markets or other users of financial information†. Chand (2005) throws a caution on Developing countries who are tempted to be a part of so called IFRS compliance members without evaluation the â€Å"cost and benefit involved in implementing IFRS†. He also emphasises the need to â€Å"improve the level of professional expertise in IFRS† before adoption or convergence to IFRS. Similar caution was advised by Shyam Sunder (2009) in his commentary â€Å"IFRS and the Accounting Consensus† stating â€Å"Get aboard if you do not wish to be left behind on the platform† cannot be a reason to converge or adopt IFRS. He argues that the standards should be developed not just as rules but rather it should be restricted to principles. Secondly a single set of accounting standards should be applied to companies especially those which are traded as it helps investors/stakeholders to compare them with their peers across the globe. Further he argues that there should be a body which must be consisting of professionals and experts which can act as a regulatory just as Securities Exchange Commission (SEC) does in United States. He emphasis the need of educating professional to a level that they can interpret IFRS’s in a prudent manner. Financial Accounting Standard No. 157 (FASB 2006) which states that the companies can value their assets in any one of the three methods given in this standard. These methods are mark-to-market or mark-to-model or mark-to-judgement. The last method gives liberty to companies to value â€Å"as they deem fit†. Warren Buffet called this as â€Å"mark-to-myth†. Clarifications on such concept of â€Å"fair† valuation are needed as it gives an opportunity for accountants to mislead the users of the financial statements. He argues that the standard setters should minimize this â€Å"need for judgement† by properly responding to the queries/objections/sug gestions raised by the professionals on these standards. Shyam Sunder (2009) also stated a practical reason as far implementation of IFRS’s goes. He states any professional anywhere across the globe â€Å"who has been drilled to memorize the specifies† of their own national accounting standards will find it quite difficult to now thoroughly understand and cope up with the clauses of IFRS’s. Also there is only one language in these internationally acceptable accounting languages and that is English only. So those nations like China, Japan or say Italian or German would not find exact version of these standards. And we are talking about a common language of Financial Reporting. One of the past presidents of The Institute of Chartered Accountants (ICAI) states â€Å"people who invest overseas naturally want to be able to keep track of the financial health of the securities issuers. Convergence of accounting standards is the only means to achieve this. Only talking the same language one can understand each other across borders†. N.C.Shil (2009) argues that though harmonisation will give an effect in the form of â€Å"global community as a single entity†. But there are major concerns when it comes to adoption of IFRS’s in United States where US GAAP is still functional. And it is yet to be seen as how far they will converge or they will just adopt. Secondly, different countries have â€Å"different legal, economic, social and cultural environments† and it is very essential to analyse these differences as they just cannot be written off just to make sure that we are in line with internationally acceptable reporting standards. Thirdly, they emphasised the need of implementation not just adoption. It is quite a tedious task to implement without adequate  regulatory authority. IFRS’s are principle based standards so again load of prudence will be required by the professionals who were implementing rules based accounting standards till date. Another issue which is inevitable is the scarcity of skilled manpower in developing countries. China has reported a â€Å"shortfall of 300,000 qualified accountants and is likely to require a further three million† in times to come (N.C.Shil, 2009). More or less the same is the condition if we talk about India. At present with the current state of affairs â€Å"The ROC Mumbai has over 150,000 registered companies out of which approximately 50 percent file their documents. Over 5,000 new companies are registered every year.ROC Mumbai has 4 staff who are employed to scrutinize these fillings, none of them of whom are Chartered Accountant or Company Secretaries’’.  Analyse the situation of now if India without a proper infrastructure (skilled manpower) adopt or converge to IFRS.   The concern at this hour is whether the adoption is â€Å"merely as a label† or there is a serious commitment to it. If the IFRS’s are adopted with such an  intension then this will lead to increase in  transparency , substantially  decrease â€Å"information asymmetry, uncertainty and estimation risk†, and as a will result in  Ã¢â‚¬Å"lower cost of capital and higher market liquidity†(Leuz and Verrecchia, 2000; Lambert et al., 2007a). This hypothesis was analysed by H.Daske,L.Hail,C.Leuz and R.Verdi (2007) who examined IFRS adoption by 24 countries between 1988 to 2004  and concluded that these the firms show a substantial decrease in cost of capital and exhibit â€Å"higher market liquidity† after converting themselves from their Local GAAP to IFRS.  The problem faced even by European countries was the lack of clarity at the time of first-time adoption of IFRS. This issue still persists and there are still no clarifications on â€Å"tra nsactions of specific nature such as pension and other post-retirement benefits† (R.K.Larson, D.L.Street 2004). â€Å"The focus tends to be on what the rules say, not on how they are implemented in practice’’  (Ray Ball, 2006). In practice this has been a major concern even in Europe where implementation is still a major concern. Developing countries like India need to understand that mere restructuring or reorganisation of the standard setting body would not resolve this crisis. But including Government agencies on their board will overcome this tedious task of implementation (Peter Carlson,1997). â€Å"The harmonisation of such standards is regarded to be neither practical nor truly valuable† (Goeltz, 1991, p.85) possibly because â€Å"investors may have developed adequate coping mechanism so that their financial decisions are not impeded†(Choi and Levich,1991,p.2) Because different users require different information it is difficult to satisfy their financial reporting needs with the constraints of a set of inter national accounting standards. A survey of 112 companies in India ,by Ernst Yong showed 67% of them welcomed the decision of convergence to IFRS. But majority of them were susceptible with the deadline set by the Institute of Chartered Accountants of India and the reasons stated were quite obvious. One being the cost, whether it up gradation of IT software or cost of skilled manpower. The other reason was the jugglery in the statutory laws. The Tax laws, Companies Act 1956  and all other statutory laws are yet to be modified and in a manner that they are in line with the IFRS regulations. Taking a clue from the nations who have already transited to IFRS India as a country needs to analyse the cost benefit ratio before implementing these IFRS regulations. â€Å"UK companies recorded an average of  £ 625,000 for IFRS conversion training in 2005†. Also Securities Exchange commission has reported that â€Å"average US corporation will spend nearly $ 32 million in IFRS adoption cost†. Also there is a mixed feeling of whether India will follow full IFRS regulations or will opt for â€Å"modified country specific version† like in European Union ,Singapore, Japan or Australia. Ray Ball(2006) on â€Å"International Financial reporting Standards: Pros and Cons† argued that without any doubts the â€Å"high quality† standards have now been  adopted by more than 100 countries is in itself commendable. On the other side he predicts the problems with the â€Å"fascination† of IASB and FASB with â€Å"fair value accounting†. When market prices are available, for any assets, then the opportunity of manipulation by managers decreases. However there is a flaw that the managers can still manipulate by using â€Å"mark-to-model† accounting. This particular clause in IFRS increases gives an opening to managers to fabricate the valuations as per their discretion. However , IASB and FASB are determined to go move ahead with â€Å"fair value accounting† and FASB member L.Todd Johnson commented â€Å"The Board has required greater use of fair value measurements in financial statements because it perceives that information as more relevant to investors and creditors than historical cost information. Such a measures better facilitate assessing their past performance and future prospects. In that regard, the Board does not accept the view that reliability should outweigh relevance for financial statement measures† Ball, Robin and Wu(2003) investigated â€Å"the relationship between accounting standards and the structure of other institutions on the attributes of financial reporting system†. The study was based on four Asian countries namely Hong Kong, Singapore, Malaysia and Thailand. They argued that these countries have a greater influence towards International Accounting Standards which as a result should produce high quality financial reporting. But the â€Å"institutional structures that provide incentives to issue low quality reports† (Robert W. Holthausen, 2003). Hence Ball, Robin and Wu predicted that outcome of such structure will have a negative impact of financial reporting. Researchers are also of the view that the manner in which the European Union is formed, in the same manner Asian Countries can come together and come to a common consensus which allows â€Å"free mobility of capital, Labour and enterprises across the national borders of its member countries†.( Peter Carlson, 1997). Inida History and Overview India is a Sovereign, Secular, Democratic Republic country. It has a Government or rather â€Å"Parliamentary system of Government†. The President is the constitutional head .In the states it is the Governor who acts as a representative of the president. There are 28 states and 7 Union territories. Each and every part of the country has a different and unique â€Å"demography, history and culture, dress, festivals, languages etc†. India is â€Å"seventh-largest country by its geographical area, second most populous country and the most populous democracy in the world†. In India, responsibility of maintaining high standards in accounting, auditing and ethical standards are bestowed on the Institute of Chartered Accountants of India (ICAI). The Institute was established in 1949 under an act of Parliament. The headquarters of this accounting body is in New Delhi. The Institute also has five regional offices situated in Mumbai, Chennai, Kanpur, Kolkata, and New Delhi, along with these regional offices the Institute has 117 branches across the country. The Institute has also 19 chapters outside India and an office in Dubai. Presently the Institute has enrolled 350,000 students and 140,000 members. The Institute of Chartered Accountants of India is presently the Second largest accounting Body in the world. The Institute has maintained high standards of applicability of Accounting and Ethical standards in India. Except the recent saga of Satyam Computers no major incidence of this stature had ever been reported from India. Applicability of IFRS in India Under the new system the following companies or entities will have to comply with the IFRS requirements: a)  Companies which are listed in any of the recognised stock exchanges. b)  Banks, Insurance companies and Financial Institutions c)  Companies which in the preceding year had a turnover or more than Rs 1 billion. d)  Companies which in the preceding year had borrowings in excess of Rs 250 million. e)  Holding or subsidiary of any of the above companies At present IFRS is not applicable to SME’s. Differences between the prsent regime under local GAAP and IFRS There are issues which really putting doubts in the mind of professionals or the users of financial statement which needs immediate attention. Following are few of them: 1)  As per the companies act 1956, there are specified rates for depreciation to be charged to assets by every company. The clause states that every company must charge a minimum rate of depreciation to each and every asset held. IFRS does not recognise this concept of â€Å"minimum depreciation†. 2)  In India, every amalgamation must be approved by the High Court. There is no such obligation in IFRS regulation. 3)  Clause 41 of the listing agreement clearly states that there should be a separate presentation of  extraordinary items in the financial reporting of the listed companies whereas IFRS prohibits such presentation of extra-ordinary items. 4)  IFRS conversion will have a direct impact on the reporting of Indian Banks. The transition to IFRS will affect reported net-worth, capital adequacy and available capital for all Indian Banks.  Report on â€Å"IFRS convergence: Challenges and Implementation Approaches for Banks in India† argues that there will be a â€Å"significant impact† on the Banking industry in India particularly in the reporting of Financial Instruments, Derivatives and provisions to be made in case of loss on loans and advances. The† Financial parameters† such as Capital Adequacy Ratio (CAR) and â€Å"valuation metrics† on the basis of which the analysis is done, predictions on future aspects of the company are made will change drastically once IFRS is implemented.

Obligation Definition Essay

The question presented in this discussion is definitely one that has no easy answer. I will start by saying, a obligation is defined by what a person is bound to from either tradition or law. If I took a relative approach I would say that morals and ethical obligation are subjective. I personally believe that to a extent humans do have a obligation to animals. To go out of your way to depict cruelty to any creature illustrates a flaw in your own character. However, humans don’t have to have a diet that includes meat but most do. Even in these cases the way that the livestock is going to be treated does not have to be treated cruelly, or put in discomfort. I remember watching a show in which the farmer said, that his cows tasted so good because they lived a happy life. In many ways he treated the cows akin to a pet, by feeding them properly, making sure their living quarters are clean, and showing them affection. His belief was that by doing this his cow’s meat was more tender, then if he hadn’t done these practices. Do I believe this maybe, maybe not. However, this does illustrate that the livestock that we consume does not have to be treated in a cruel manner. Yet, in theory in our society animals do not perform any function but companionship and food, which means humans really don’t have a obligation to them. However, I feel it is boorish to depict cruelty to any creature or anyone.

Graduation Speech Essay

This is such a great victory for all of us! We have done each others’part to make this occasion whole. As educators, it is our pride and honor to see you all on this very momentous day tasting the fruit of our sweet success for six years of labor and more. Your parents are in deep joy celebrating your achievement that at last you did to surpass this milestone of your primary training. Years ago you entered this place,you had the desire within you to learn and to prepare yourselves for the challenges to come in the future. We had a heart to heart agreement to teach and learn. Now, we have realized that agreement in us. Your teachers are with high regards in you for they freed you from this place because you deserve to seek higher learning which will make yourselves more equipped to meet your tomorrow with confidence, satisfaction, and integrity. The time spent in school was never wasted despite of the shortcomings we encountered. With the theme, â€Å" Building the Nations Future Leaders Through the K to 12 Basic Education Program†, we are truly confident that your dreams are at hand. Just strive hard not only for yourselves but for the nation as well. The foundation we built is of good help wherever you go. As you leave your beloved Alma Mater, put in mind, carve in heart and do by hands the teachings and learnings you acquired in fundamental step of your basic education to gear you up for the higher one. Always remember, even in this step, you start making yourselves leaders. Being a leader doesn’t always mean to be at authority to acquire power, but; being a leader is possessing the ability to make a difference to cut the poverty and corruption for the goodness of humanity so that even the most deprived will still get their basic needs with honor and happiness. Do that vision in you a great mission to fulfill in making this world a better place for all of us to live with equity and justice. May the Almighty God guide you to whatever path will you take in building a nation with integral progress empowered by holistically developed leaders. A warm greetings of congratulations to all of you, Graduates! Mabuhay and God speed!