Sunday, May 17, 2020
An Analysis of Statutory Understanding - Free Essay Example
Sample details Pages: 6 Words: 1816 Downloads: 7 Date added: 2017/06/26 Category Law Essay Type Analytical essay Level High school Did you like this example? ABSTRACT Statutory understanding is the methodology by which courts translate and apply enactment. Some measure of translation is frequently vital when a case includes a statute. Some of the time the expressions of a statute have a plain and straight forward meaning. But in many case, there is some vagueness in the expressions of the statute that must be determined by the judge. To discover the significance of statutes, judge use different apparatus and strategies for statutory elucidation, including universal standards of statutory translation, administrative history and reason. Within the jurisdiction of the same law, the judiciary may apply rules of statutory rules of administrative agencies. INTRODUCTION Interpretation of Legislation The principles applied by English judges in the interpretation of English legislation have been applied by Malaysian judges in interpreting local legislation. It must not be forgotten, however, that when local legislatio n is being considered, it is local legislation and that English decisions on similar words in English statutes are not necessarily in point. Thus, in Re A TaxpayerSpenser Wilkinson J said: the various portions of the English income tax law have to be construed in the light of the particular methods of assessment in the United Kingdom; so that even where the sections of our Ordinance are couched in wording similar to that of certain parts of the English income tax law it is by no means certain that those words will have the same meaning in the context of the local income tax law as they have in the context of the English income tax law. Literal request of English rules might guide to restricted variation. For example, the English rule that a statute is not to be construed (in the absence of express words or necessary implication) as prejudicing the Crown might have given rise to the doubt in relation to the Malay States. Clearly the United Kingdom government, and those of Singapor e, Penang, and Malacca were protected. But what of the government of the Malay States and of the Federation of Malaya (in relation to Penang and Malacca as well the other states)? They were not part of the Crown. Was the English rule to be taken as applying to the Crown only, or to its equivalents as well? The literal and restrictive application was adopted by Wilson J in Plantersà ¢Ã¢â ¬Ã¢â ¢ Loans Board v S. Mangalam; where he said: The government of the Federation of Malaya is bound by the provisions of any general Enactment of law effective in the Federation unless expressly exempted. The different approaches used by court in England which has been adopted by the courts in Malaysia can be summarized under four main headings. The Literal Approach This approach assumes that the meaning and intention of the legislature have been expressed effectively by the actual words used in the act or enactment to be interpreted and the court needs to do no more than to give effec t those words. In an English case, the Sussex Peerage Casethe question before the Committee of Privileges was whether the Royal Marriage Act, 1772 extended to marriages celebrated outside England, Tindal CJ said: The only rule for the production of Acts of Parliament is that they should be interpreted in accordance with the will of Parliament which passed the Act. If the words of the statute are in themselves precise and clear, there is no more to explain the words in their natural and ordinary sense. The words themselves do, in such case, best announce the purpose of the law giver. In many cases, this approach enables the questions presented to the court to be answered quite confidently and no difficulties arise. It must be remembered however, that the literal meaning of the words almost always depends to some extent on their context and that the context of the words in a statute is the whole statute in which they are found. In commissioner of Stamps, Straits Settlements v Oei Tjong Swan Orsthe respondents were executors of Oei Tjong Swan, who died in Singapore in 1924. The deceased was resident and domiciled in the Straits Settlements, and his will was proved there.The estate of the deceased included, apart from moveable and immoveable property in Singapore, also moveable property situated outside Singapore. The issue was whether estate duty was also payable on the deceasedà ¢Ã¢â ¬Ã¢â ¢s moveable property outside Singapore. Section 68 of the Stamps Ordinance provided that: In the case of every person dying after the first day of February 1908, shall, in cases specified in article 1 of Table A, levied and paid on the principal value is determined as here in after provided the property is passed on the death of the duty pass rates of stamp referred to in the article. Then section 2 of the Ordinance provided that à ¢Ã¢â ¬ÃÅ"propertyà ¢Ã¢â ¬Ã¢â ¢ includes moveable and immoveable property. In case, the Privy Council held that the lan guage of section 68(1) plainly covered the moveable property situated abroad as the section said à ¢Ã¢â ¬ÃÅ"all propertyà ¢Ã¢â ¬Ã¢â ¢. The Privy Council made a classic remark which runs as follows: The answer to the question (regarding the construction of section 68(1) of the Ordinance) must be found from an examination of the Ordinance itself, for the best and safest guide to the intention of all legislation is afforded by what the legislature has itself said. The Mischief Rule When it is not clear whether an act is included in what is forbidden by a particular piece of legislation, the judges can apply the mischief rule. Where there is ambiguity in the law, this rule allows the court to go behind the actual words of the statute to consider the problem that the statute was supposed to correct. The court will look at the law before the law was passed. After that, look at the overall intent of law as discovered from reading the whole and ask, à ¢Ã¢â ¬Ã
âAny mis chief to it that the law is intended to correct?à ¢Ã¢â ¬Ã or à ¢Ã¢â ¬Ã
âWhat social purpose?à ¢Ã¢â ¬Ã To go beyond the text of the statute to determine the function of the act, damage or purposes are vastly different approach to the golden rule and literal approach in looking at this problem. Elliot v Grey (1960) The defendantà ¢Ã¢â ¬Ã¢â ¢s car was parked on the road. It was jacked up and has the battery removed. He was charged with offenses under the Road Traffic Act 1930 using an uninsured vehicle on the road. Defendant argues he did not à ¢Ã¢â ¬ÃÅ"useà ¢Ã¢â ¬Ã¢â ¢ the car on the road with clear he cannot drive. Held: The court applied the mischief rule and decided that the car used on the road as it represents danger and therefore the insurance will be required in the event of an incident. The statute is intended to ensure the compensation when injured by hazards created by others. In deciding the meaning of a phrase in the statute, the court can also be helped by maxims that are not a rule but an aid to construction. Two of the maxims that used are noscitur a social known as an associate. This is used where the words are vague or unclear in the particular word. Its meaning is limited to the class or kind of thing as certain words in common. Next, ejusdem generic means that the same kind, class or nature. Under this rule, a wide range of general words are restricted to the same class as a more specific word that precedes it. The Golden Rule The golden rule is in fact analteration of the literal rule; used in order to avoid an absurdity or repugnancy. As Parke B said in the English case of Becke v Smith: It is very useful rule in the construction of a law to comply with the ordinary meaning of the words used and the grammatical construction, unless that is contrary to the intent of the legislature, to be collected from the statute itself, or leads to any manifest absurdity or repugnance increased, in where the language can be changed or modified to avoid inconvenience, but nothing more. It has also been said that the golden rule may be used in two ways; the narrow and broader ways. In a narrow application, rule stipulates that if the word is not clear, the court must adopt the interpretation that avoids absurd results. In its broader application, the golden rule is sometimes used in preferences to the literal rule where the words used can have only one literal meaning. This is especially so where considerations of public policy intervene to discourage the obnoxious interpretation. The rule, however, has mostly been used in a narrow way, and in this application, the golden rule can be used where there is a sensible alternative interpretation. The best case to illustrate the application of this rule is the case of Re An Advocate. In this case, respondent is an advocate in the roll of advocates for Sarawak. In November 1962, he visited Kuching in the course of practice, and as a favou r to his friend, who imported womenà ¢Ã¢â ¬Ã¢â ¢s clothing arranged his advertisement and representative. He also set the account and customs formalities attended in his own name and made use of in his hotel room to facilitate business. Any advocate can be suspended from practice in Sarawak, or his name may be struck off the roll of advocates of the order of a judge for any of the following reasons: if he does any act which if committed in England, would render him liable to be removed from the register of the court, or suspended from practise, if a lawyer in England. In conclusion, this report describes the facts and reality of law cases nowadays. As in this report is the interpretation and extrinsic act,the principles applied by English judges in the interpretation of English legislation have been applied by Malaysian judges in interpreting local legislationthe literal approach,the meaning and intention of the legislature have been expressed effectively by the actual wo rds used in the act or enactment to be interpreted and the court needs to do no more than to give effect those words. The golden rule,rule is in fact a modification of the literal rule; used in order to avoid an absurdity or repugnancy and the Mischief rule,even when read in the light of the whole statute, that the words bear a plain meaning. Sometimes, the words or phrases are vague. Sometimes in their application to particular circumstances, words or phrases though not perhaps strictly ambiguous in themselves are vague or uncertain. All these acts were discussed in the report above. REFERENCE Books Ahmad I. and Ahilemah J. (1995) The Malaysian Legal System: Interpretation of Legislation. 2 edn, Malaysia: Kuala Lumpur Website Statutory Interpretation (2008) Interpretation Available at https://www.e-lawresources.co.uk/Statutory-interpretation.php (Accessed: 5 April 2014) Case Examples of the Golden Rule, 2013, retrieved on 2 April 2014, from https://golden-rule- law.blogspot.com/ Useful Website Scholarly publications: https://www.scholar.google.com A good search engine for educational purpose: https://www.intute.ac.uk Donââ¬â¢t waste time! Our writers will create an original "An Analysis of Statutory Understanding" essay for you Create order
Chinese Mothers Are Superior - 877 Words
Chinese mothers If you ask parents all over the world, what they wish for their children, most of them would answer that their children should have a happy life. Does it mean that parents dictate every single step for their kids to take? When a child get used to follow orders from his/her parents all the time and doesnââ¬â¢t have any kind of freedom in his/her spare time, wouldnââ¬â¢t this dictatorial upbringing and zero tolerance toward the child lead to weak points and errors in childââ¬â¢s life? To get high marks at school and eventually having a good job does it equal to a happy life? What is most prioritized happiness or success in life? On the 8th January 2011, an article was published in the Wall Street Journal to explain the superiorityâ⬠¦show more contentâ⬠¦The Chinese parenting method intends to focus on a targeted direction for the kids without paying attention to the kid own interest and ability of doing things. Because as parent you will be the decision taker, which later on will create an adult who is indecisive and depended. However this parenting method has some good sides too. Because you as decision taker make it easier for your child to follow the ââ¬Å"idealââ¬Å" path. As it takes off a lot of the pressure from kids shoulder and it will spare them from being confused and making decisions themselves. Finally you can say that the Chinese method is mixing the fact of being happy or being successful person. They define happiness in being successful at their profession. While the western assume happiness as success in life. In todays globalized lifestyle it is essential for everyone to be open-minded to achieve success and happiness. While, the Chinese method makes it difficult for individual to adopt new ways of thinking and way of doing stuff, because the kids have been obligated to follow the specific rules that their parents have created for them. As a parent it can be very difficult to balance what is the best for your child and what makes them happy. You should allow unstructured play as it helps children work together with others and thereby negotiate and solve conflict. Children also have to be taught to express their emotions so they canShow MoreRelatedWhy Chinese Mothers Are Superior856 Words à |à 4 Pagesstyles and Chinese are considered authoritarian. Amy Chua, a Yale professor, a famous author, who recently wrote the book, ââ¬Å"Battle Hymn of the Tiger Motherâ⬠, in which she discuses parenting and the difference between Chinese and Western parenting. After reading ââ¬Å" Why Chinese Mothers Are Superiorâ⬠, she argues about different parenting styles and how Chinese parents are superior in terms of focusing on education with their kids. According to the Toulmin model, Amy Chua claims that Chinese parents raiseRead MoreWhy Chinese Mothers Are Superior1526 Words à |à 7 PagesYale law professor Amy Chua presents a harsh comparison of Chinese and Western ideas of child rearing in her essay entitled ââ¬Å"Why Chinese Mothers are Superior.â⬠This essay is an excerpt from her controversial 2011 book entitled Battle Hymn of the Tiger Mom and was published as an op-ed in a 2011 edition of The New York Times. In this essay Chua strives to challenge the readersââ¬â¢ idea of Chinese mothers and the way that they choose to effectively raise their children, and to present the reader withRead MoreWhy Chinese Mothers Are Superior992 Words à |à 4 PagesWhy Chinese Mothers are superior In 2011 Amy Chua wrote an article in which she involves people in how Chinese parents are raising their children. There are huge differences in how western parents are raising their children and how Chinese parents are raising their children. As a western person the methods Chua is using seems a little rough, but maybe it is the way to go. Her children have never been at a sleepover and the only choices they had was playing the piano or the violin. While readingRead MoreWhy Chinese Mothers Are Superior1496 Words à |à 6 PagesAmy Chuaââ¬â¢s ââ¬Å"Why Chinese Mothers Are Superiorâ⬠highlights the different ways of parenting. Even though her title specifically states ââ¬Å"Chinese Mothers,â⬠this term is used to describe vast majority of Asian parentsââ¬â¢ way of nurturing. These ââ¬Å"tiger mothersâ⬠make their kids practice musical instrument numerous hours a day without a break and demand straight As. They force their children to keep enhancing their academ ic skill because she thinks that her children have the potential to be the best. The kidsââ¬â¢Read MoreWhy Chinese Mothers Are Superior1214 Words à |à 5 PagesWhy Chinese Mothers Are Superior ------------------------------------------------- Amy Chua ââ¬Å"Hey fatty ââ¬â lose some weight.â⬠Do you think this sound like a mother who is superior? According to the Western idea of what good parenting includes this would be intolerable, but if you consider this from an Eastern point of view this wouldnââ¬â¢t be wrong or abnormal. In additional it seems that Chinese parents can get away with things that Western parents canââ¬â¢t which alludes to talk about two different child-rearingRead MoreWhy Chinese mothers are superior900 Words à |à 4 Pagesââ¬Å"Why Chinese mothers are superiorâ⬠is an essay published in The Wall Street Journal in January 2011. It is written by Amu Chua, who is also the author of the book ââ¬Å"Battle Hymn of the Tiger Motherâ⬠. In the essay deals with the ever controversial question of how to raise a child. How to make your kids grow up happy, strong and self-reliant. Different cultures have very different perspectives on upbringing and education, and in this essay Chua presents th e Chinese parenting method. The essay causedRead MoreWhy Chinese Mothers Are Superior1207 Words à |à 5 Pagesâ⬠Why Chinese Mothers are Superiorâ⬠It is impossible to deny the difficulty of childrearing. There is no manual but there are indeed methods more ethically correct than others. This is of course a subjective matter and often leads to endless discussions. The ways of childrearing have changed over the years and varies a lot based on the environment/country surrounding the parents and their children. In the article, ââ¬Å"Why Chines Mothers are Superiorâ⬠, Amy Chua, the professor at Yale law school, attemptsRead MoreAnalysis Of Why Chinese Mothers Are Superior1236 Words à |à 5 Pagesââ¬Å"Why Chinese Mothers Are Superiorâ⬠Critique Amy Chua, a professor at Yale Law School, the author of ââ¬Å"The World on Fireâ⬠, ââ¬Å"Day of Empireâ⬠, and ââ¬Å"Why They Fallâ⬠, in a Wall street Journal on January 8th, 2011, believes chinese mothers are the most rigorous on their children. The title of the article ââ¬Å"Why Chinese Mothers Are Superiorâ⬠was not chosen by Amy, but by the Wall Street Journal. Even though Amy did not write the title, there is reasoning that she does believe that chinese parenting is superiorRead MoreAnalysis Of Why Chinese Mothers Are Superior1210 Words à |à 5 Pagesââ¬Å"Why Chinese Mothers Are Superiorâ⬠Critique The article, ââ¬Å"Why Chinese Mothers Are Superior,â⬠seemed like it had completely inflamed the entire United States due to the content that the author and Yale Law School professor, Amy Chua had included in her writing. This Chinese mother described her parenting style as superior and all knowing compared to the parenting style of the common Western parent which was described as anxious and conflicted. The article follows the structure of the chinese mothersRead MoreReasons Why Chinese Mothers are Superior803 Words à |à 4 PagesWhy Chinese mothers are superior Af Mathias Hammerstrà ¸m ________________________________________________________________________________________________ Write an essay (900-1200 words) in which you analyser and comment on Amy Chuaââ¬â¢s article ââ¬Å"Why Chinese Mothers Are Superiorâ⬠. Part of your essay must focus on how the writer engages the reader and on possible consequences of adopting Amy Chuaââ¬â¢s values and methods of upbringing. Thereââ¬â¢s a lot of different ways to raise your kids, and a lot
Wednesday, May 6, 2020
HGT task 1 WGU Essay - 1695 Words
Community Health Nursing HAT1 Task 1 Western Governors University Community Health Nursing HAT1 Task 1 History and Demographics of Bucks County Pennsylvania Bucks County is located in southeastern Pennsylvania and is part of the Delaware Valley area. Bucks County is a suburb of the large city of Philadelphia. Bucks County was founded by William Penn in 1682 and was named after the British county of Buckinghamshire where Penn resided while in England. Bucks is one of the three original counties of Pennsylvania. Historically, Bucks County is known for being where General George Washington and his troops camped prior to crossing the Delaware River to take Trenton in 1776 during the Revolutionary War. Where theyâ⬠¦show more contentâ⬠¦The average age of a Bucks County resident is 42 years old and males make up 46.9% of the population while females are 53.1% of the population. Population 65 years or older is 14.6%. Bucks Countyââ¬â¢s population continues to grow since the birth rate is greater than the rate of death. Birth rates for the county are 11.6 live births per 1000 and death rates are 8.3 for every 1000. Even though birth ra tes exceed death rates, abortion is prevalent within the community with 1,189 abortions performed in 2012 (Bucks County Health Profile, 2012). This is interesting due 66% of Bucks County population reporting to be Catholic which is notoriously anti-abortion (M. Gallagher, personal communication, August 24, 2013, 2013). As much as the catholic religion is against abortion, it is also against suicide. Suicide is an increasing issue in Bucks County with suicide being the second leading cause of death of residents aged 5-24 and the third leading cause of death for residents 25-44 years old(Bucks County Health Profile, 2012). Of those suicides almost half are by firearms. Drug abuse within the county is also increasing, specifically the use of heroin. The county is currently investigating why heroin use has increased. In 2009, Bucks had 136 drug related deaths or suicides. Heroin was responsibleShow MoreRelatedHgt1 Community Health Nursing Practicum Wgu Western Governors University816 Wo rds à |à 4 PagesHGT1 Community Health Nursing Practicum WGU Western Governors University http://www.homeworkminutes.com/question/view/52795/HGT1-Community-Health-Nursing-Practicum-WGU-Western-Governors-University DESCRIPTION Introduction: The following are directions to write the narrative description of your field project. It should be written in APA (6th edition) format, appropriately noting in-text citations, references, etc. You may attach as appendices any charts, tables, or other materials
Comparison Of Karl Marx And Marx On Capitalism And...
Compare And Contrast What Carnegie And Marx Have To Say About Capitalism And Economic Inequality Marx and Carnegie Ideas on Capitalism and Economic Inequality. Capitalism is a social and economic system which works on the principle of individual rights whereby the mode of production and means of distribution is chiefly owned and maintained by a small number of people for profit therefore having the free market. Politically, capitalism refers to the system of democracy and freedom. On the other hand economic inequality refers to the distribution of the economic metrics with regards to the wealth, income and consumption. Karl Marx was a German Philosopher, sociologist, economist and theologian born in 5th May 1818 (Thompson 158). He was a revolutionary founder of the communist movement. Markedly, he lived during the period of the great industrial change and revolution. New industries were being established and the existing industries were vastly expanding. However the living conditions of the working class were so poor and in depraved conditions. This made him see that there was a great struggle and fight between the poor and the rich where o ne party was the oppressed and the other the oppressors respectively. Marx is one of the prominent economists who advocated for the idea of capitalism. He saw capitalism as an advanced historical stage but that it would however stagnate and be overtaken by socialism. He referred to the wealthy as the bourgeoisie and they are the ones whoShow MoreRelatedKarl Marx And Max Weber1332 Words à |à 6 Pagesabout different religion in depth that exist on earth and various perspectives of well known people on the study of religion. I chose Karl Marx and Max Weber for my paper assignment. Two sociologists and philosophers have discussed their views on religion and its impact on society. Most of the Sociologist of that time wrote about the role of religion in society, Karl Marx and Max Weber observations are particularly relevant for our course. Religion is one of the principle social ideologies that impactsRead MoreThe Ideas And Reforms Of Marx And Kuyper1142 Words à |à 5 Pagesseminal thinkers, Karl Marx and Abraham Kuyper, examined the issue of poverty du ring this time through their books The Communist Manifesto and The Problem of Poverty respectively. Both philosophers exposed economic, political, and social problems of this period. The ideas and reforms of Marx and Kuyper proved to be so tectonic that they resulted in the greatest political upheaval of the nineteenth and twentieth centuries. While Marx wrote his book to rally society against capitalism for a socioeconomicRead MoreWhy Was There a Struggle Between the Bourgeoisie and the Proletariat Which Would Create the Preconditions for Socialism?895 Words à |à 4 Pagesto Marx and Engels inà The Manifesto of the Communist Party,à was there inevitably struggle between the bourgeoisie and the proletariat, which would create the preconditions for socialism? ___________________ The theories of Karl Marx have influenced some of the worldââ¬â¢s greatest thinkers. Marxââ¬â¢s idea of the inevitable class struggle within capitalism and consequent place for a socialist society is professed within ââ¬ËThe Manifesto of the Communist Party.ââ¬â¢ It is necessary to explore why Marx andRead MoreKarl Marx And The Communist Manifesto Essay1691 Words à |à 7 PagesKarl Marx (1818-1883), in collaboration with his benefactor and friend, Friedrich Engels (1820-1895), founded the Marxist Theory. Both men were philosophers, however were referred to as revolutionaries. ââ¬ËThe Communist Manifestoââ¬â¢, was written collaboratively by both Marx and Engels, as they explored the argument that ââ¬Å"history and progress can be seen dialectically as societies shift from one mode of production to anotherâ⬠. This will be argued through a contextual account of Marxism, its developmentRead MoreKarl Marx And Max Weber On Social Class2038 Words à |à 9 Pagesc ompare and contrast between the two theories of Karl Marx and Max Weber on the topic of social class that will be discussed widely. The inequality between people is the basis of the democratic system, which is ââ¬Å"a political systemâ⬠. It is said that ââ¬Å"those who have the skills and abilities to perform and produce will succeed in life.â⬠But this belief is the assumption that all people are given equal opportunities and advantages. During the 19th century Karl Marx and Max Weber were two of the most influentialRead MoreSociology1391 Words à |à 6 PagesChapter 4 Society I. Society. Society refers to people who interact in a defined territory and share culture. This chapter explores four important theoretical views explaining the nature of human societies, focusing on the work of Gerhard Lenski, Karl Marx, Max Weber, and Emile Durkheim. II. Gerhard Lenski: Society and Technology. Gerhard Lenski (Nolan Lenski, 2010) focuses on sociocultural evolution, the changes that occur as a society acquires new technology. According to Lenski, the more technologicalRead MoreCompare and Contrast Marxââ¬â¢s Idea of Class and Durkheimââ¬â¢s Division of Labour?1641 Words à |à 7 Pageswill begin by providing a brief introduction into the two perspectives of Functionalism and Marxism, focusing on the theories of the French Sociologist Emile Durkheim and the German philosopher Karl Marx. Then it will give a brief discussion showing the transformation that took place from feudalism to capitalism, providing the reader with an insight into the dramatic change tha t took place during a time of revolution and revolt. Finally the essay will compare and contrast Marxââ¬â¢s idea of class and classRead MoreMarx vs Smith2023 Words à |à 9 Pagestitled, Classical Economics, is infamous has been called the ââ¬Å"first modern school of economic thought.â⬠[1] Two economist/philosophers who have been placed within this Classical category are Adam Smith and Karl Marx. Though these two men are polar opposites in the political-economic spectrum they share some similarities; and although dated, there are points of value to both Adam Smithââ¬â¢s and Karl Marxââ¬â¢s theories. Adam Smith, the father of economics as a science, combined economics with moral theoryRead More The Colliding Dynamics of Class Structure Essay1721 Words à |à 7 PagesThe rigidity of class structure is the culprit for the vast number of inequities in society. Power is concentrated in the hands of a small sector; leaving a few individuals to have more authority and influence, in comparison to others. The construction of class structure identifies the way groups are divided into social positions. Differences stemming from social position are further exemplified by the accessibility to valuable resourcesââ¬âsuch as wealth, education, occupation, and status. Those withRead MoreMarx vs. Weber: a Comparative Analysis1965 Words à |à 8 PagesKarl Marx v. Max Weber: Comparitive Analysis C. Wright Mills places both Weber and Marx in the great tradition of what he calls the sociological imagination a quality that enables us to grasp both history biography and the relationship between the two within society. (Mills, 12) In other words both theorists were dealing with the individual and society not either one to the exclusion of the other. Mills further writes that both Marx and Weber are in that tradition of sociological theorizing
Countries Mandate Accrual Accounting For Tax -Myassignmenthelp.Com
Question: Discuss About The Countries Mandate Accrual Accounting For Tax? Answer: Introducation In general, there are two main methods, used widely, to record the business transactions Cash basis and Accrual basis. Under cash basis method, the firms record only such transactions, which cause any cash inflow or cash outflow. On the other hand, the transactions, which are related to any particular period, must be recorded in that particular period under accrual method even if the transactions would not generate any cash flow. Though, the cash basis method is very simple and it is very easy to record the transactions under this method, it does not reflect the actual financial position of the business. Hence, all the main accounting standard boards, like International Accounting Standard Board (IASB), Financial Accounting Standard Board (FASB) etc., prefer accrual basis method for recording transactions and preparing financial reports. The major accounting standards, such as IFRS or GAAP, have been constructed on the basis of accrual method (Marshall 2016). As per the accrual method, the business firms have to record all the revenues in the year, in which it is generated and recognized. It should also exhibit the expenses in the period, on which the benefits of the expenses are consumed. If any part of the recognized revenue is not collected in cash or any other means, then it should be treated as accrued revenue and considered as asset of the business. Whereas, if the business consumes the benefit of any expense in a specific period, but does not pay for the expense fully, then the unpaid amount is classified as accrued expenses and recorded in the liability section of the balance sheet for that specific period (Bushman et al. 2016). It has been noticed that almost all the large business houses can neither collect all the revenues nor pay the expenses for a particular period within that period. Therefore, as per IFRS and AASB guidelines, the firms record such uncollected revenues and unpaid expenses as accrual items in their financial reports to exhibit the fair and proper financial performance as well as, financial position of the businesses (Goncharov and Jacob 2014). JB Hi-Fi is a renowned Australian company, which manufactures electronic appliances and accessories. It follows the guidelines of AASB and IFRS to maintain its accounting records and prepare the financial statements accordingly. The balance sheet of the company does not contain any classified group for accrual items. However, both the current asset and current liability includes items, such as, other current asset and other current liabilities. Hence, it can be concluded that, being a large company, JB Hi-Fi might have some accrued revenue and expenses and the following items would have effected by the adjusting entries for accruals: Revenue Other Income Sales Marketing Expenses Occupancy Expenses Administration Expenses Other Expenses Finance Costs From further analysis of the financial notes, provided in the annual report, it has been observed that the other current asset does not have any accrued income. However, the other current liabilities incorporate lease accruals. Hence, it can be stated that the adjusting entries for accruals have majorly effected the lease expenses, which is one of the finance costs (Jbhifi.com.au. 2018). Reference: Jbhifi.com.au. (2018). Cite a Website - Cite This For Me. [online] Available at: https://www.jbhifi.com.au/Documents/2017%20Annual%20Report.pdf [Accessed 25 Jan. 2018]. Bushman, R.M., Lerman, A. and Zhang, X., 2016. The changing landscape of accrual accounting.Journal of Accounting Research,54(1), pp.41-78. Goncharov, I. and Jacob, M., 2014. Why do countries mandate accrual accounting for tax purposes?.Journal of Accounting Research,52(5), pp.1127-1163 Marshall, D., 2016.Accounting: What the numbers mean. McGraw-Hill Higher Education.
Tuesday, May 5, 2020
Personal Goals Paper Essay Example For Students
Personal Goals Paper Essay Furthering my education has been a personal goal I have strived to achieve. It was not until a few years after my high school graduation that I decided to attend college. So with the help of my life-partner, I decide to attend University of Phoenix, I know am on the right path to carry out my goal on becoming a store manager (training supervisor). I plan to achieve this goal through academics and work experience. My career goals involve being promoted with my company. Attending the University of Phoenix will help me pursue a foundation for my career and improve my own self-esteem. I also want to improve myself within the knowledge of the career that I am now choosing with Payless. Another goal is to help me feel more comfortable with future situations and give me the knowledge and confidence to work under demanding pressures of a store manager as well as everyday life. Other goals include focusing on developing ideas, study skills, recognizing strengths and weaknesses. Receiving my bachelors degree is not my final goal at the University of Phoenix; I am interested in a master degree in business management as well. Being able to explore my skills and training and being able to research the jobs that I am capable of is very important. I want to be a positive asset for my company, by developing communications skills. Having excellent communications skills is major part of succeeding in my job. Associates, as well as myself, have to communicate effectively to achieve overall goals as a team. I plan to achieve my communications skills by participating in team discussion, class discussion and reading the text to develop these skills. Managing my time is a goal I have always struggled with, mostly because of working long irregular hours. I plan to create a study schedule where I read the course material(s) for the class I am currently in. Then I wait for the following day before proceeding unto the written work. This give me time to allow the information to sink in. I will have a calendar in front of my computer desk that lists all my assignments and their due dates. This will ensure that I complete the assignments before they are due. By developing this schedule I wont stall and will allow me to make corrections on written assignments. I plan to develop my writing skills through formatting and editing and coming familiar with MLA and APA. My career goal of becoming a corporate manager will help me to develop strategies in determine the hiring process, and resolving conflicts. By attending the University of Phoenix will help gain the requirements my company seeks out in a top-level management position. Payless usually looks for a bachelor degree in their higher-level management associates with the skills to work as part of a team, being creative, and presentation skills. I plan to use the knowledge I have gained from the University of Phoenix and on the job training in order to accomplish my goal. My academics goals include receiving an A in all my classes. Even though I know it will not be easy I plan to achieve this goal by completing my assignments on time. By reading the required material prior to class, not missing any days of course and team meetings, and just focusing on the end result of graduating. In the business world there will always be many complex problems that will occur and I know that I will be prepared on how to best solve them. Being able to present ideas more clearly in my writing is very important, as well as to be able to develop more of my critical thinking process. Another goal in which I will achieve involves performing well on test and to increase my ability to work together as a team to complete the assignments. Another goal is to stay motivated, which I know will not always be easy, and understand how school will pay off financially in the end. Solving and analyzing problems such as training, and hiring employees is goal I plan to achieve. .u8753504fd7b8ec0ea76936946b012c34 , .u8753504fd7b8ec0ea76936946b012c34 .postImageUrl , .u8753504fd7b8ec0ea76936946b012c34 .centered-text-area { min-height: 80px; position: relative; } .u8753504fd7b8ec0ea76936946b012c34 , .u8753504fd7b8ec0ea76936946b012c34:hover , .u8753504fd7b8ec0ea76936946b012c34:visited , .u8753504fd7b8ec0ea76936946b012c34:active { border:0!important; } .u8753504fd7b8ec0ea76936946b012c34 .clearfix:after { content: ""; display: table; clear: both; } .u8753504fd7b8ec0ea76936946b012c34 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u8753504fd7b8ec0ea76936946b012c34:active , .u8753504fd7b8ec0ea76936946b012c34:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u8753504fd7b8ec0ea76936946b012c34 .centered-text-area { width: 100%; position: relative ; } .u8753504fd7b8ec0ea76936946b012c34 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u8753504fd7b8ec0ea76936946b012c34 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u8753504fd7b8ec0ea76936946b012c34 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u8753504fd7b8ec0ea76936946b012c34:hover .ctaButton { background-color: #34495E!important; } .u8753504fd7b8ec0ea76936946b012c34 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u8753504fd7b8ec0ea76936946b012c34 .u8753504fd7b8ec0ea76936946b012c34-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u8753504fd7b8ec0ea76936946b012c34:after { content: ""; display: block; clear: both; } READ: World War One. The first great tragedy of humanity Essay Overall I want to develop leadership skills to become an effective overall manager. These goals I .
Subscribe to:
Posts (Atom)