Analysis Of Australian Company Accounting Theory - 1100 Words

Analysis Of Australian Company Accounting Theory: AGL Energy Limited (Australia) (Essay Sample) Content: Name:Course Code:Instructor:Date:Accounting Theory and ConceptAGL Energy Limited (Australia)Accounting is a tool or side of management that enables organization to present accurate data to the concerned stakeholders. Despite data presentation taking a better part of accounting, it is critical to acknowledge that accounting is built on well laid theories and concepts. Accounting theories and concepts are held together by the conceptual framework of accounting as the major block or foundation. From the people who key in data to those responsible for the production of final statements, these theories and concepts ensure flow, credibility and accessible financial information for all. AGL Energy Limited is one of the integrated companies providing electricity in Australia. AGL operates in the sensitive line of providing utility to household and commercial sector. Based on this the company is watched by both domestic and business energy users (AGL Limited Company website n. p). Since 1837, AGL has enjoyed effective market operation through provision of electricity to all it clients. Realizing the massive task the company has on annual basis; its top management has maintained annual merited recruitment to meet the ever increasing electricity demands (Edmonds, Edmonds, Mcnair Olds, pp. 28-32).A number of companies have enjoyed the utility industry specifically electricity but have opted out terming high cost of production and distribution, damages in terms electricity material and high debts. It is interesting to note that AGL has been able to maintain the market amid the challenges feared by other market players. One main strength of the company is a well established management with main focus on its financial sector or department as the hub of the company. The company is aware of that fact that any stumble on in hits statement would see the monopoly the company has enjoyed for long slip away. The effective reporting at AGL Ltd is built around accounti ng theories of usefulness, qualitative characteristics, assumption, historical cost and matching principles (Financial Accounting Standards Board Statement of Financial Accounting Concepts n.p)AGL Limited Account Theories and Concepts 1 The Usefulness accounting ConceptEvery company in Australia is very much of the high number of users depending their financial information to make vital decision. In the year 2013, AGL issued shares for public subscription. As much the share amount was large and price arguably high, a good number of people came out to subscribe and the IPO did not go the full month as it was planned. The company believes this was credit to its full and effective reporting. Buying or share subscription by the public is done after based on ones perception about the organizations stability. Prior to the IPO, AGL had just released it statement of financial position which showed stability in terms of assets and the general liquidity level of the company. Through its state ment of financial position, AGL managed to convince the public of the going concern which is major decision is making factor in a business (Bhattacharyya 2005, pp. 12-16). Potential investors in company shares are always pushed on this after assurance of the companys continued market stay. In this case, AGL through it statement of financial position (Balance sheet) proved the company was in the business to stay and in the best position to meet its liabilities. 2 Qualitative CharacteristicsFinancial reporting is not about data presentation as perceived by many but quality of financial information released to the market. Accounting conceptual framework provides that accounting information should be relevant, reliable, comparable and consistent. In the case of AGL, the company is very much aware that its shareholders need previous statement to place against or compare with current as a way of attaining any growth trends (Stickney 2010, pp.21-23). 3 AssumptionsAccounting or financial ar e expected to poses high level of accuracy based on the fact that these information influence vital decision making. Effective accounting theories operate on major assumptions of economic entity, going concern, monetary unit and periodic assumption a look at the statement provided by AGL the company is rooted on these assumption key ways of making in road into the market and extending its operation (Financial Accounting Standards Board 2000, pp. 17-21). 4 Historical Cost And Matching PrinciplesAGL Ltd as a company good reputation prepares its financial statements on the basis of Generally Accepted Accounting Principles. GAAP acknowledges the historical cost and matching principles as key to effective reporting since it provides room for asset valuation thus communicating important ratios such liquidity among others (Albrecht 2007, pp. 31-34).Financial Statements presented on well accounting theories and conceptsFiscal year is July-June. All values AUD millions. 2011 2012 2013 2014 2 015 5-year trend Sales/Revenue 7.07B 7.45B 9.72B 10.45B 10.68B Cost of Goods of Sold 6.19B 6.45B 8.25B 8.88B 8.79B COGS excluding DA 6.04B 6.27B 7.96B 8.56B 8.4B Depreciation Amortization Expense 148M 173.9M 287M 326M 391M Depreciation 127M 139.8M 240M 272M 362M Amortization of Intangibles 21M 34.1M 47M 54M 29M Gross Income 886.8M 1.01B 1.47B 1.56B 1.89B 2011 2012 2013 2014 2015 5-year trend Expenses 220.8M 241.1M 467M 578M 793M Research Development - - - - - Other SGA 220.8M 241.1M 467M 578M 793M Other Operating Expense 52M 63.4M - - 262M Unusual Expense (174.3M) 516.3M 380M 21M 282M EBIT after Unusual Expense 174.3M 184.5M (380M) (21M) 548M Non Operating Income/Expense (14.2M) (10.8M) (44M) (50M) (51M) Non-Operating Interest Income 47.9M 45.4M 41M 24M 20M Equity in Affiliates (Pretax) - - - - - Interest Expense 62M 73M 200M 202M 207M Gross Interest Expense 77.4M 99.8M 228M 217M 231M Interest Capitalized 15.4M 26.8M 28M 15M 24M Pretax Income 760M 146.1M 419M 7 35M 310M Income Tax 234.9M 48M 70M 190M 119M Income Tax - Current Domestic 130M 93.2M 110M 9M 103M Income Tax - Current Foreign - - - - - Income Tax - Deferred Domestic 104.9M (45.2M) (40M) 181M 16M Income Tax - Deferred Foreign - - - - - Income Tax Credits - - - - - Equity in Affiliates 33.6M

Globalization of Wal-Mart - 1177 Words

Derek Moore 9/13/12 GEB3356, Omanwa Minicase: â€Å"The globalization of Walmart† As the world’s largest retail store in the world, Walmart wants to be in every market that they can be prosperous in. They know they rule the United States market, so why not try to expand overseas and dominate those markets as well. Now that they have reached limits on expansion here in the U.S., the next step was to test the water in other nations. As they began to go international, there were many critics saying they will never make it because their business practices and culture wouldn’t work in other countries. Yet the company’s globalization efforts progressed at a rapid pace. Its more than 4,263 international retail units employ more than 660,000†¦show more content†¦They changed their strategy to customer service and a broader merchandise mix than the smaller local stores could match. They have continued to grow and are now the third largest retailer in Brazil. Walmart faced strong entrenched competition in Canada and Europe. In these developed countries, they couldn’t gain critical mass through internal growth, so they had to acquire companies that have been in the market already. They acquired Woolco, a money losing operation, applied many of the American business practices, and within a few years, the Canadian operations were successful. They have 317 stores, and they account for more than 35 percent of the Canadian discount and department store market. In Europe, Walmart entered Germany by acquiring the Wertkauf hypermarket chain in 1998 and entered the UK by acquiring the 229-store ASDA group. They the leader and are now losing ground to Tesco. A major problem for Walmart in the European market is overexpansion. Accompanied with the famous â€Å"Always low prices† approach, they met large resistance from the competition and regulators. Large price wars began because Walmart was accused of underselling the competition. The y struggled to build a strong competitive base in German losing more than $1 billion. They were unable to create a competitive advantage, so they sold their operations to a competitor, Metro. They also faced problems in Korea, soShow MoreRelatedCross Culture Perspectives: Wal-Mart924 Words   |  4 PagesCultural Perspectives: Wal-Mart ETH/ 316 June 11, 2012 Laura Brodkey-Scott Cross Cultural Perspectives: Wal-Mart Introduction Wal-Mart is defined as the giant of retail and it is one of the largest companies in the world. It has grown to not only be a staple in America but internationally as well, touching base in countries such as Japan and China. It is a popular supercenter that is located worldwide. Wal-Mart is the largest retailerRead MoreWal Mart Stores, Inc.1730 Words   |  7 Pages 1. The organization chosen for this study is Wal-Mart Stores, Inc. Wal-Mart is an American multinational company that operates a chain of warehouse stores and departmental stores. The organization is headquartered in Arkansas from which operations of 11,000 stores are spread in over 27 countries. Sam Walton formed the company in 1962. The purpose of the company was if they could lower the cost of living for everyone it would give the world the opportunity to have a better life by saving money. Read MoreGlobalization And Its Discontents : The Promise Of Global Institutions Essay874 Words   |  4 Pages Globaliza tion is the integration among nations of political views, products, ideas, and cultures. It helps by stimulating innovation, communication, and offers developing countries to catch up to industrialized countries. With the use of advanced technologies, large corporations can supply the world populous with consumer goods that would only be available in 1st world countries. Despite the numerous contributions that globalization has brought, it also carries with it disadvantages. Large corporationsRead MoreTo most of us, globalization—as a political, economic, social, and technological force—appears all1700 Words   |  7 PagesTo most of us, globalization—as a political, economic, social, and technological force—appears all but unstoppable. The ever-faster flow of information across the globe has made people aware of the tastes, preferences, and lifestyles of citizens in other countries. Through this information flow, we are all becoming—at varying s peeds and at least in economic terms—global citizens. This convergence is controversial, even offensive, to some who consider globalization a threat to their identity and wayRead MoreGlobalization Has Become The New Term For The International Economy1526 Words   |  7 PagesII. DESCRIPTION A. Globalization Related Theory Globalization has become the new term for the international economy, which makes the nations have become more reliant through the flow of services, goods, and financial resources since 1970s (Gereffi et al., 2001). The term â€Å"globalization† was not created until the second half of twentieth century, it has a longer history. The word â€Å"globe† originated from the fifteenth century etymologically, which is derived from the Latin word â€Å"globus† and startedRead MoreMgt/230 Week 2 Team Assignment1684 Words   |  7 Pageswith planning, leading, controlling, and organizing. As leadership applies the four functions to their day-to-day tasks, it is extremely important that things like; innovation, technology, globalization, ethics, and diversity are represented clearly within all aspects. The largest retailer in the world, Wal-Mart, takes these internal/external factors and incorporates them very effectively into every aspect of their business. The organizat ion does an excellent job at teaching their management teamRead MoreInternal and External Factors of Wal-Mart.1220 Words   |  5 PagesWal-Mart is a company that has always presented the image to go the extra mile to meet customer satisfaction. They have been able to grow in times when most companies were facing hardship. The implementation of walmart.com in January 2000 was a major step for the Wal-Mart organization. Their globalization, e-business, and ethics have been essential in the success of this and any company. Many people claim the ethics of Wal-Mart has changed greatly, and not for the better, since the death of Sam WaltonRead MoreWalmart s Organizational Structure And Organizational Culture Essay1697 Words   |  7 Pagesmaintained through the organizational culture of the Wal-Mart. Nonetheless, the long history of Walmart in progressing successfully and continually growing internationally proves that the firm’s organizational structure and organizational cultu re have been very positive in bringing competitive advantage and achievement. Such organizational structure interacts with the organizational culture to maintain the significant competitive advantage of Walmart. Wal-Mart is at current encountering proceeding with developmentRead MoreInternal and External Factors1610 Words   |  7 Pagesexternal factors affect the four functions of management in the Wal-Mart Corporation. For any organization to survive, irrespective of its size, it must develop and implement its own management concept. Management is the process of working with people and resources to accomplish organizational goals (Bateman amp; Snell, 2011). The four traditional functions of management include planning, organizing, leading, and controlling. The Wal-Mart Corporation has managed to use the internal and external factorsRead MoreInternal And External Factors That Affect The Four Functions Of Management1039 Words   |  5 Pagesfactors are globalization, technology, innovation, diversity, and ethics. As among the biggest retailers and employers across the world, Wal-Mart has several issues to take into consideration with regard to the four functions of management. When und ertaking planning, organizing, leading, and controlling, Wal-Mart’s management will have to take into account precisely what external and internal factors will have an effect on planned managing alternatives. A few internal factors affecting Wal-Mart’s four

Textile Industry in India - 5425 Words

------------------------------------------------- Report: The Textile Industry In India ------------------------------------------------- Arvind Mills Prepared for: Industrial Economics Prepared by: Dhruvita.Patel School: FSLE- 3 Application Number: 28380 Initiator: Rupa Korde Date: 21/04/2013 1. Executive summary Indian textile Industry has lately been developing in India has contributed a lot towards the economic growth in terms of generating employment, GDP, economic development etc. Also in the recent times the Indian Textile in Gujarat is booming and there are new mills coming up. This establishes the aim of my report to analysis the top player Arvind mill which is initiated in Gujarat, Ahmedabad with the†¦show more content†¦This industry is self- sufficient they have their own production starting from raw materials to the delivering the finished goods. This industry contributes a lot to the Indian economy. Manufacturing and exports plays an important role in the Indian Textile Industry. India gains around 27 percent of its total foreign exchange by textile exports. The Textile Industry in India is divided into various sectors few of them includes: * ï‚ · Cotton Textiles * ï‚ · Silk Textiles * ï‚ · Woolen Textiles * ï‚ · Readymade Garments * ï‚ · Hand-crafted Textiles * ï‚ · Jute and Coir In the Textile industry there are about 11228 textile mills which has a strong spinning capacity of 29 millions spindles which accounts to be very high. Yarn is usually produced in the mills, whereas fabrics are usually produced in both handloom and powerloom. When we talk about the textile industry in India, cotton has always been dominant in this market where around 65 percent of raw materials is consumed to make cotton. The yearly output of cotton production is very high which comes downs to around 12.8 billion meters. The Textile Industry has highly proving employment to millions, which includes the growers of jute and cotton, weavers which includes weavers who are involved in both organizing and household se ctors which areShow MoreRelatedThe Textile Industry Of India3002 Words   |  13 PagesABSTRACT The Textile industry in India has generated huge employment for both skilled and unskilled labor in textiles . It continues to be the second largest employment generating sector in India. It offers direct employment to over 35 million in the country. The share of textiles in total exports was 11.04% during April–July 2010, as per the Ministry of Textiles. Textile industry is one of the oldest industry of India. â€Æ' INTRODUCTION Textile Industries are concerned with the production of clothingRead MoreCotton Textile Industries in India1484 Words   |  6 PagesINTRODUCTION The Textile Industry occupies a vital place in the Indian economy and contributes substantially to its exports earnings. Textiles exports represent nearly 30 per cent of the countrys total exports. It has a high weight age of over 20 per cent in the National production. It provides direct employment to over 15 million persons in the mill, powerloom and handloom sectors. India is the world’s second largest producer of textiles after China. It is the world’s third largest producer ofRead MoreIndia s Role Of India1425 Words   |  6 Pagesof India in the world trade of textiles and apparel, the political and economic orientation of India and the adequacy of the infrastructure for trade, the currency used and the exchange rate that goes with it against the US dollar, and the opportunities for foreign investment. According to Technopak Advisors, India is one of the largest textile producers in the world and is still growing. They are second only to their neighbors, China, and India is predicted to have a US$ 223 billion industry byRead MoreSwot Analysis Oh Indian Textile Industry1605 Words   |  7 PagesSWOT analysis of the Indian textiles industry: We now do a SWOT analysis of the Indian textile industry keeping in mind the global changes that have taken place in the post quota regime. STRENGTHS- 1. Abundant raw material 2. Low cost skilled labour 3. Presence across the value chain 4. Growing domestic market 5. Strong backward integration 6. Third largest cotton producer as well a the largest area under cultivation 7. Increasing presence across entire value chain 8. Cheap and skilledRead MoreTechnology In Textile Industry868 Words   |  4 Pagesin its textile industry. Spinning mills availed to the maximum benefit from TUFS. Ring spinning system has long been the oldest technology to spin any count of yarn with minimal changes to it in India. With TUFS, air jet spinning has offered manufacturers the opportunity to produce yarn at a relatively high production rate for a lower cost. The Air Jet Spinning Machine has been offered by Rieter India Pvt. Ltd., in which the company has been a leading supplier of spinning machinery for India. The significantRead MoreGlobal And Indian Telecommunication Industry979 Words   |  4 Pagesbusiness. The global and Indian telecommunication industry will present numerous business opportunities in the year 2015. India’s metros are set to transition from 3G networks to 4G network, while many of the 2nd and 3rd tier cities in India will transition from 2G to 3G networks. Reliance, Airtel, Aircel, Videocon and Vodafone are all set to completely rollout their 4G networks during the year 2015, generating employment and wealth throughout India One of the business formats that is rapidly gainingRead MorePest Analysis of Textile Industry1235 Words   |  5 Pagescan improve the quality of a product or service that a business offers. Textile Industry in India: The textile industry is mainly a labor intensive industry as it provides livelihood to the huge population, mainly consists of unskilled workers, and thus plays a pivotal role in the development of any economy. As this particular industry also comes under the basic necessities of human beings, it impacts a lot to the society as a wholeRead MoreMumbai And Its Impact On The West Coast Of India1087 Words   |  5 PagesMumbai or otherwise known as Bombay, originally began as a grouping of seven individual islands in the west coast of India. As a result of the British East India Company’s trading actions during the later part of the 17th century, the small port town began to develop. As time and enlargement of the city progressed over the course of the following two centuries, the seven islands were interconnected through large-scale engineering practices that included the addition of causeways and seawalls. TheseRead MoreChina And I ndi The World s Fastest Developing Economies And Most Populous Nations On The Earth969 Words   |  4 PagesChina and India are two of the world’s fastest developing economies and most populous nations on the earth. The question is whether â€Å"Chindia† is a friend or a threat to the United States. Together these nations have attributed to prosperity, but are it beneficial or harming to others? Chindia can pose many threats to surrounding nations and competitors. China is taking dominance as becoming the world exporter. With all of their products they are able to offer lower prices and beating out many otherRead More Business Plan for Electricity Generation from Biomass Essay1728 Words   |  7 Pagesdeveloped economies. In 2007, India is ranked fifth in the world in terms of energy demand; accounting for 3.6% of total energy consumed, and is expected to grow at 4.8% in the future. India imports 70% of the oil it uses, and the country has been hit hard by the increasing price of oil, uncertainty and environmental hazards that are concerned with the consumption of fossil fuels. In such context, bio energy constitutes a suitable alternative source of energy for India, as large amounts of raw material

The Issue Of Jail Over Populace - 1325 Words

Consistently, state and government jails are filled to limit with peaceful crooks. This puts weight on parole sheets to discharge lawbreakers who under typical circumstances would not be discharged because of the way of their violations. Each State s Department of Corrections needs to spend a greater amount of citizens cash each year for jail upkeep, prison guards and jail social insurance. The issue of jail over populace can without much of a stretch be put under control with the execution of the new advancements as of now accessible for remote observing what s more, radio recurrence finding frameworks. Electronic observing and house capture has turned into a reasonable different option for imprisonment, probation, and parole†¦show more content†¦The expense of keeping a peaceful wrongdoer in prison is costly and the cash originates from state and government charges. The normal expense for medicinal services for a jail prisoner in the condition of Arizona is $2319.00 a yea r(Arizona Department of Revisions. Medicinal services Cost Statistics.). Increased by the quantity of current prisoners the aggregate is around $ 60,900 million a year, this is just for medicinal services this does exclude whatever other jail costs. The present number of peaceful wrongdoing guilty parties detained in the condition of Arizona make up generally 33%(Arizona Department of Corrections. Prisoner Statistics.). On the off chance that just 50% of Arizona s peaceful crooks where put under house capture the state would spare no less than 10.5 million a year in human services costs, this does exclude the diminishment in the expense of security and the aggregate number of detainees in jail. An essential issue in Arizona and most different states is jails packing. Congestion prompts various issues that as of now numerous remedial offices are not ready to control legitimately. In over swarmed detainment facilities there is dependably the danger of a mob which could jeopardize the lives of detainees as well as the prison guards. Despite the fact that the medicinal services framework in today s penitentiaries is worthy they can t control episodes of socially and sexually transmitted

REPORT COMMERCIAL APPLICATION OF TREND Coursework

Essays on Commercial Application of Trend Coursework The paper "Commercial Application of Trend" is a brilliant example of coursework on marketing. This report evaluates online marketing as a form of commercial trend and its applications. It details the ten aspects of online internet marketing with well-illustrated imagery. It further exhausts on the benefits and drawbacks of online marketing to any corporate company. Finally, a review of five global companies is documented in the various ways they have integrated online marketing into their business. Finally, a sharp, fine conclusion is drawn to summarize what has been outlined.BodyInternet marketing is the ideal marketing trend that is driving the sales of major companies in the world. Inbound marketing trend has ten key aspects that enable it to work in not just any commercial company but a leading company. Inbound marketing is a hotcake technique in 2013. It dominates most of the marketers-conversation; this is based on an annual report released by HubSpot. With an over 3300 respon dent base in 128 countries, the report focused on how the marketers’ organization is integrating the current marketing trend, practices, tactics, and the drives behind the results.The first fact about inbound marketing is that it is the new practice/norm. Dispel the myth that inbound marketing practice is just but, another fleeting trend. In fact, the majority of the world’s marketers are employing inbound marketing principles. Research by HubSpot shows that inbound adoption reaches the majority of the marketers however, educational opportunities remain intact. Almost 60% of marketers have already adopted the inbound strategies, however, 19% are not sure how to categorize their efforts.Figure 1: Inbound MarketingPost analysis on the company’s likely to employ social media, email, and blogs in their marketing strategies showed that the world crà ¨me Del crà ¨me professionals, marketing agencies and groups, were likely to adopt inbound principle at 73% (Nesteren ko, 2013).The second aspect is that corporate integration has to be revolutionized to achieve optimum limits. It is very crucial for all the CEOs and company stakeholders to realign the marketing stare ices online with the company goals. Lack of efficient communication between sales and marketing makes marketers unable to generate sufficient volumes of the right leads. It’s a great disappointment that only 34% of companies believe out rightly that their strategies ate completely integrated into their overall goals. The HubSpot annual report shows that approximately 81% of the strategy is integrated into the broader organizational goals in most companies.Figure 2: Integrating Inbound with Inbound Corporate StrategyNesterenko (2013) defines the third inbound marketing strategy as the quality content should take back seat in internet marketing. Two-thirds of all marketers believe that lead generation, reaching the right audience and conversion is of more importance than generati ng quality content.

Financial Statement Analysis for Bankruptcy Prediction

Question: Discuss about the Financial Statement Analysis for Bankruptcy Prediction. Answer: Introduction The topic selected for the study is discussing on whether corporate require other approaches than financial statement analysis for bankruptcy prediction in any form (Jones 2016). Addition to that, it is understood that Financial Statement Analysis has been considered as one of the major instrument that is used for predicting the probability of bankruptcy in business firms. Hence, it is noted that due some of the significant corporate scandals, financial statements are not considered as one of the reliable way for estimating the default or bankruptcy risk in a firm. This study has been conducted for bringing out the relevant journal articles that links with the selected topic and discuss on the usefulness of other approaches apart from financial statement analysis for predicting the probability of bankruptcy of firms as a whole (Geng, Bose and Chen 2015). Main objectives of the report The main objective of the report is to suggest other approaches apart from financial statement analysis for predicting the bankruptcy of the firms. Summary of finings from the research undertaken research This research report has been undertaken for finding out the approaches other than financial statement analysis so that it can predict the bankruptcy risks that are faced by business firms. Secondary sources of data are used for conducting the research such as review of academic journals that links with the current topic of discussion. This research reviews six academic journals that give an overview of explanation as to which approaches to be used for predicting the bankruptcy of the firms (Jones, Johnstone and Wilson 2015). Discussing the approaches that should be used by Corporate for bankruptcy prediction As rightly put forward by Zhou (2013), Bankruptcy Prediction is the art used for predicting the bankruptcy as well as various measures undertaken due to financial distress of Corporate. This area of research is for creditors and investors who have evaluated the likelihood that a firm may go bankrupt. Addition to that, bankruptcy prediction mainly takes into consideration the use of various statistical tools that are made available and include deepening appreciation of several pitfalls in the previous analysis (Karas and ReÃ… ¾?kov 2014). In the recent accounting research area, Corporate should use survival methods in case they face any corporate scandals from their financial statement accounts that lead to the condition of bankruptcy (Liang, Tsai and Wu 2015). In other words, option valuation approaches help in understanding the stock price variability for development purpose. Business Corporate should use structural models as it will detect the default events that took place in the firm when their assets reaches sufficiently lower level in comparison with the liabilities. Neutral methods models as well as other sophisticated models are used for testing the bankruptcy prediction so that Corporate can minimize their risks as far as possible. It is necessary for the Business Corporate in using the modern methods as it will help most of the business information companies as they cam surpass the annual accounts content as well as consider the current events such as bad press, payment incidents, bad payment experiences fr om the creditors and judgments (Lin et al. 2014). As per the latest research, Prediction majorly compares various approaches such as modeling technique and individuals as it ascertain whether any one of the technique is superior to the other counterparts. Zhou (2013) provides an excellent discussion of the literature that takes into consideration the empirical evaluation of various models from the existing literature. The mentioned models range from the univariate models of Beaver and continue with the recent techniques that involves option valuation approaches. It is noted by the researcher that models are based on market data like option valuation approach that majorly outperforms than the earlier models as it relies more on accounting numbers (Sun et al. 2014). Review of Journal Articles The first journal article is taken from Expert Systems with Applications and titled as Improving experimental studies about ensembles of classifiers for bankruptcy prediction and credit scoring (Abelln and Mantas 2014). This article is useful as it ensembles the schemes for complex clarifiers as it is applied. From the previous works, it highlights about the datasets on bankruptcy prediction as well as credit scoring. The proposal used will be a simpler as well as brings improvement in the complex procedures. According to previous studies, it is understood that classifiers for bankruptcy forecast as well as recognition scoring are obtainable in the current scenario. The best consequences are even obtained by making use of Random Subspace methods. In addition to that, Bagging Scheme is used for the methods for comparison purpose. It is essential for using the collection system on weak as well as unbalanced classifiers for producing assortment after combining the factors associated. Co mparison can be improved by using Bagging scheme for various decision trees as it encourages diversification for the grouping of classifiers. Therefore, an experiment is conducted that highlights the Bagging Scheme on decision trees that yield best consequences for bankruptcy calculation as well as credit scoring at the same time (Geng, Bose and Chen 2015). The second journal article is taken from Journal of International Financial Management and Accounting and titled as Financial Distress Prediction in an International context: A review and Empirical analysis of Altmans Z-Score Model (Altman et al. 2016). From this article, it is noted that categorization presentation of Z-Score Model are used for predicting the insolvency as well as other types of firm distress. They have a common goal for examining the models usefulness to all the relevant parties in case of banks as they operating internationally and require assessing the failure risk firms. It is analyzed that use of Z-Score Model help firms in bringing modifications to the original model. The article majorly offers various comprehensive international analyses for the future research purpose. There are some evidence noted where Z-Score Model of bankruptcy forecast can be outperformed by competing market-based or hazard model. It is analyzed that Z-Score model works well in most of the countries as the predication accuracy is 0.75 as well as classification of correctness can be enhanced above 0.90 by making use of country-specific judgment that incorporates supplementary variables. The third article is taken from Journal of Banking Finance and titled as Are Hazard models superior to traditional bankruptcy prediction approaches? (Bauer and Agarwal 2014) This article takes into consideration the recent year hazard by making use of both market as well as accounting information that has become state of the art in predicting the firm bankruptcies. Addition to that, a comprehensive test will help in judging the level of performance by comparing it with the conventional accounting based approach or the conditional claims advance. Therefore, use of mixed regime competitive loan market by taking various costs for clarification purpose. This can be done by viewing at the economic benefit when the presentation can be judged with risk return weighted possessions (Geng, Bose and Chen 2015). The forth journal article is taken from Expert Systems with Applications and titled as An improved boosting based on feature selection for corporate bankruptcy prediction (Wang, Ma and Yang 2014). This article highlights the fact that there is no overall best technique that can be used for predicting the corporate bankruptcy. Addition to that, new and enhanced Boosting known as FS-Boosting has been planned for predicting the corporate bankruptcy. Selected datasets will help in demonstrating the effectiveness as well as feasibility of FS-Boosting. It depends on the experimental results that reveal the fact that FS-Boosting can be used as an alternative technique. From the current financial crisis and European debt crisis, it is noted that Corporate Bankruptcy Prediction had become one of the vital issue especially for the financial institutions. Most of the statistical and intelligent method is used for predicting the commercial bankruptcy. The article suggests use of FS-Boosting as i t gets better performance as base learners that will give more correctness and assortment. It is used for testing purpose by taking two real world bankruptcy datasets as it demonstrates the effectiveness as well as feasibility of FS-Boosting. Therefore, the consequences signify the FS-Boosting can be effectively used as an alternative technique for business bankruptcy prediction. The fifth journal article is taken from Knowledge-based systems and titled as Performance of corporate bankruptcy prediction models on imbalanced dataset: The effect of sampling methods (Zhou 2013). This article explains that Corporate Bankruptcy Prediction is essential for the creditors as well as investors. Researcher are of the opinion that there can be improvement in level of performance by using prediction models after developing as well as optimizing the quantitative methods. It will clearly highlight the consequence of sample methods that are used on the presentation of quantitative bankruptcy models on real excessive dataset. It is necessary for making the contrast of model presentation by testing on random balancing sample set as well as real imbalanced sample that is conducted. Therefore, the experiments suggest ways that correct sample methods help in increasing prediction model that is majorly reliant upon number of bankruptcies in the preparation sample set. The sixth article is taken from Knowledge-Based Systems and titled as Predicting financial distress and corporate failure: A review from the state of the art definitions, modeling, sampling and featuring approaches (Sun et al. 2014). In this article, it is explained that bankruptcy prediction plays major role at the time of decision-making in various areas such as accounting, finance and engineering. Literature on Financial Distress Prediction reviews from various unique aspects where it introduces the sampling approaches. It is used by qualitative selection as well as combination of qualitative and quantitative selection for future analysis purpose (Geng, Bose and Chen 2015). Conclusion From the above analysis, it is easy to predict the fact that financial statement analysis got through some loopholes in the recent times that make the approach not feasible for predicting the bankruptcy risks of a firm. It was understood from the data present that earlier financial statement analysis was considered as proper instrument that used to be predicting the probability of bankruptcy. After the emergence of several corporate scandals, it was not essential for finding out other approaches that best suit for predicting the bankruptcy in a business firm. The above study had reviewed six academic journal articles that help in identifying several approaches that can be used for predicting the bankruptcy risks in a business firm. References Abelln, J. and Mantas, C.J., 2014. Improving experimental studies about ensembles of classifiers for bankruptcy prediction and credit scoring. Expert Systems with Applications, 41(8), pp.3825-3830. Altman, E.I., Iwanicz?Drozdowska, M., Laitinen, E.K. and Suvas, A., 2016. Financial Distress Prediction in an International Context: A Review and Empirical Analysis of Altman's Z?Score Model. Journal of International Financial Management Accounting. Bauer, J. and Agarwal, V., 2014. Are hazard models superior to traditional bankruptcy prediction approaches? A comprehensive test. Journal of Banking Finance, 40, pp.432-442. Geng, R., Bose, I. and Chen, X., 2015. Prediction of financial distress: An empirical study of listed Chinese companies using data mining. European Journal of Operational Research, 241(1), pp.236-247. Jones, F.L., 2016. Current techniques in bankruptcy prediction. Journal of accounting Literature, 6(1), pp.131-164. Jones, S., Johnstone, D. and Wilson, R., 2015. An empirical evaluation of the performance of binary classifiers in the prediction of credit ratings changes. Journal of Banking Finance, 56, pp.72-85. Karas, M. and ReÃ… ¾?kov, M., 2014. A parametric or nonparametric approach for creating a new bankruptcy prediction model: The Evidence from the Czech Republic. International Journal of Mathematical Models and Methods in Applied Sciences, 8(1), pp.214-223. Liang, D., Tsai, C.F. and Wu, H.T., 2015. The effect of feature selection on financial distress prediction. Knowledge-Based Systems, 73, pp.289-297. Lin, F., Liang, D., Yeh, C.C. and Huang, J.C., 2014. Novel feature selection methods to financial distress prediction. Expert Systems with Applications, 41(5), pp.2472-2483. Sun, J., Li, H., Huang, Q.H. and He, K.Y., 2014. Predicting financial distress and corporate failure: A review from the state-of-the-art definitions, modeling, sampling, and featuring approaches. Knowledge-Based Systems, 57, pp.41-56. Wang, G., Ma, J. and Yang, S., 2014. An improved boosting based on feature selection for corporate bankruptcy prediction. Expert Systems with Applications, 41(5), pp.2353-2361. Zhou, L., 2013. Performance of corporate bankruptcy prediction models on imbalanced dataset: The effect of sampling methods. Knowledge-Based Systems, 41, pp.16-25.

Cloning Essay Research Paper The Ethical Issues free essay sample

Cloning Essay, Research Paper The Ethical Issues of Human Cloning Twenty old ages from now, as you are walking around the square in Wilkes Barre, you pass person who looks precisely like you. They have your same brown eyes, unit of ammunition face, light brown hair, short stature, and even the same pregnant chads you possess. Can you conceive of the daze and even fright that may attach to such a sighting? The universe was bewildered when the intelligence that an grownup mammal was produced without any eggs being fertilized with sperm. The consequences of? Dolly? surprised society and the thought that human cloning was possible created an tumult. Many people disagree with cloning for ethical grounds. Oppositions want human cloning banned, stating it would merely make jobs. On the other manus, scientists say it could hold other benefits such as doubling embryos for in vitro and replacing a deceasing kid ( Masci 1 ) . Others argue that human cloning would open doors for interventions of serious diseases. ? Cloning human existences could be good, ? says Ruth Macklin, a professor of bioethics at the Albert Einstein College of Medicine in New York City ( Masci 2 ) . One manner in which cloning could be good in the in vitro fertilisation ( IVF ) procedure. Cloning Research may better IVF, in which an egg is removed from a adult female? s womb, fertilized by a donated sperm, and so implanted into the womb. Cloning could better the effectivity of IVF. Robert Stillman, one of the research workers in a recent cloning experiment, stated, ? If a adult female has merely a individual egg to be fertilized, the opportunities of a successful gestation are merely approximately 10 percent. ? He continues, ? If more so four embryos are implanted, the success rates rise dramatically? ( Stillman 1993 ) . Cloning embryos could divide one embryo into four and so increase the gestation rate for many adult females across the universe. Dividing the embryos would avoid the process holding to be done legion ti mes. It would cut down the physical hazards every bit good as fiscal costs. Cloning may besides offer new options for twosomes who are unable to bring forth kids the normal egg-sperm manner. If the twosome doesn? T want to utilize a alternate female parent or male parent, cloning gives the option of still holding a kid. However, the kid would be an exact reproduction of one of the parents. Cloning could convey trust into many twosomes? lives. Another possible usage might affect cloning a boy or girl. This usage of cloning could assist match excessively old to bring forth their ain kids. It can besides assist twosomes who have lost a kid to a slaying or snatch. Producing a kid who is indistinguishable to their past might alleviate some of the hurting. In add-on to helping in reproduction, cloning might assist happen interventions for certain diseases. Analyzing how the cells work could take scientists in the right way. Some cells in the human organic structure can merely execute a certain map. If there were a demand for that type of cell, scientists would be able to clone it so it will so execute its map that may be needed in the organic structure. Learning how cells perform different maps can take to detecting effectual interventions for diseases such as malignant neoplastic disease. Learning how cells work can besides supply scientists with the cognition of how tissues signifier. Cloning could organize these tissues which would help in grafts. Cloning tissues, variety meats, and even bone marrow could increase the success rate in surgery. All of these illustrations could be good ; nevertheless, many scientists still think cloning will do jobs. Wilmut, the scientist who cloned Dolly the sheep, feels that societal and ethical statements still outweigh the scientific benefits ( Masci 3 ) . Many research workers believe that there are other ways so cloning to happen interventions for diseases and to supply strength in grafts. ? I can? t at the minute candidly see anything in this ( cloning ) that is traveling to state us something about worlds that we can? t happen out in by experimentation more acceptable animate beings like mice and sheep, ? says Collin Stewart, Director of the Laboratory for Cancer Developmental Biology at the authorities? s Advanced Biosciences Laboratories in Fredrick, Maryland. Many of the statements by people who disagree with cloning point to the deficiency of informations about its effects. Whether it is the deficiency of humanity, loss of single individuality or uniqueness, or spiritual grounds, the statements to censor cloning maintain adding up. First, many research workers still believe that cloning is incorrect. One statement is that our sense of humanity will be destroyed if we begin to clone human existences. When Leon Kass wrote? Toward a More Natural Science? he said that the nature of adult male will be violated if human cloning is allowed ( Kass 73 ) . Many research workers agree with Kass, including Father Kevin Fitzgerald, a Jesuit priest and geneticist at Loyola University Medical Center. In an interview with Jim Lehrer, Fitzgerald commented: ? a kid is begotten and in this peculiar engineering I think that we could state copied, what intent is behind this? Are we seeking to replace person? Is this kid being brought into being in order to supply variety meats or tissue or something like that, and if so, are we really pull stringsing, utilizing an unreplaceable, valuable human being for some sort of proficient agencies? ( Lehrer 4 ) He besides feels that cloning worlds would be a major loss to our humanity. If worlds are cloned, scientific discipline is comparing a human being to a cell, which has no singularity or individuality. One cha racteristic of a human is its uniqueness, in the manner he or she dresses, acts, or expresses themselves. Many bookmans support the fact that cloning will non let singularity. Sidney Callahan, a psychologist, states that a kid is to be a alone creative activity. Cloning oneself, she continues, ? would be incorrect for its egocentric purpose and for the dehumanizing effects of seeking to deny the singularity of identity. ? ( 33 ) . Kass besides agrees with Callahan as he remarks that a individual in? inherently injured by holding been made a transcript of another human being? depending on which homo is being cloned. ( 67 ) . Critics of human cloning besides raise the inquiry of whether the sense of individualism of ringers would be diminished. An illustration would be when one kid is cloned to be indistinguishable to his older brother a few old ages subsequently. Critics express concern about whether life with an older or younger twin would take down the kid? s single individuality. The confusion of whether or non he was to follow in his brother? s footfalls would do happening his ain individuality harder ( Singer and Wells 145 ) . Rearing such a scenario could besides be a job, because the relationship between the two male childs would be more than merely brothers. Ken Jenks, a alumnus from the University of Illinois who now works for the U.S. authorities, believes that cloning a human being would wholly oppress the thought of a household tree. For illustration, say a adult female named Betty decides to clone herself. Her ringer would hold indistinguishable familial stuff to Betty. Her parents, Abel and Anne, are besides the familial parents of her kid, Cindy, but Betty carries Cindy to term and gives birth to her. In some ways, this makes Cindy both the girl and granddaughter of Abel and Anne. Because this scenario is so complicated, inquiries like? ? Does this do Betty a alternate female parent for Abel and Anne? ? or? Is Betty obligated to obtain permission from Abel and Anne? ? would be asked ( 2 ) . The confusion that human cloning would make within a household is another statement against the procedure. Numerous people besides disagree with human cloning for spiritual grounds. Critics believe that scientific discipline has no concern messing with God? s method of creative activity. Munawar Ahmad Anees, a author for Islamic and Biological Features writes, ? the human organic structure is God? s belongings, non adult male? s research lab? ( quoted in Masci 4 ) . Anee? s position is shared by both Christians and Jews. Religious bookmans believe that God created Adam and Eve for a ground that was non to clone worlds, but give birth to them. When the inquiry of human cloning comes up, some biological and societal factors spark argument. One of the many concerns is that of mass production where cloning will be taken out of manus, and create legion ringers of the same individual. Although it seems really improbable that mass production would of all time take topographic point, the fact that it is capable of being done is what worry many research workers. Further statement about unknown biological effects include the possibility of research lab errors that would take to the birth of some kind of earnestly damaged or subhuman animals. ? Until you get the technique one hundred per centum reliable, you? re traveling to hold tonss of abortions, still births, and unnatural babes, ? Stewart says ( Masci 5 ) . The possibility that parents might donate to others one of a brace of cloned frozen embryos that they can non utilize would intend that twins of bing kids might be born at different times and raised by different parents. Since the donor twosome would hold no connexion with the ringer or his or her household, would the ringer have the right to cognize his or her parents? Another issue is the inadvertent meeting of the ringers. An unexpected meeting of one another could raise injury or joy. Animal cloning is in the present ; human cloning is in the hereafter. Some scientists believe human cloning is a decennary off. Cornell University animate being scientific disciplines Professor W. Bruce Curtie agrees when he states, ? We could be at that place in ten old ages, if we truly decided to make it? ( Masci 14 ) . Others believe the first cloned human won? T be for many old ages. No affair when the first homo is cloned, it is obvious that the ethical overtones are existent and society must be prepared. Callahan, Sydney. 1998. Challenge of the New Reproductive Technologies. In Medical Ethical motives: A Guide for Health Professionals, erectile dysfunction. John F. Monagle and David C. Thomasma, pp. 26-37. Rockville, MD: Aspen Publication. Cloning. 1978. The MacNeil/Lehrer Report. Transcript. Library No. 660, Show No. 3200: ( 7 April ) . New York: WNET/13. Jenks, Ken. Cloning? Mind? s Eye Fiction. 15 June 1997. hypertext transfer protocol: //tale.com/edit-970615.phtml ( 19 March 2000. ) Kass, Leon R. 1985. Toward? s a More Natural Science. New York: The Free Press. Lehrer, Jim. Cloning? Multiplicity. 24 February 1997. hypertext transfer protocol: //www.pbs.org/newshour/bb/science/jan-jun97/cloning/_2-24/html. ( 15 March 2000. ) Masci, David. The Cloning Controversy. EBSCO Host. 18 March 2000. Shannon, Thomas A. Ethical Issues in Genetics. Theological Studies Vol. 60 Issue 1 ( 1999 ) : p111. Singer, Peter, and, Wells, Deane. 1985. Making Babies. The New Science and Ethical motives of Conception. New York: Scribner. Stillman, Robert J. 1993. Statement. ( Dateless imperativeness release from George Washington University Medical Center, Washington, DC. )