International Accounting Standards Board System

Question: Discuss about the International Accounting Standards Board System. Answer: Introduction: The International Accounting Standards Board (IASB) is a private sector organization that approves and develops the International Financial Reporting Standards, which is well known as IFRSs in short. IASB is an independent body that operates its operations under the oversight of IFRS Foundation. In the year 2001, the IASB was established in order to replace the International Accounting Standards Committee. The total numbers of members of IASB is 16 as per the record of 1 July 2012 (Aasb.gov.au, 2016). The main role of IASB under IFRS Foundation Constitution is to complete the responsibility regarding all the technical matters of the particular foundation. These include firstly, the development of full discretion and to pursue the technical agenda that is subjected to the requirements of consultation along with the public and the Trustees (Collings, 2012). Secondly, the issue and the preparation of the IFRSs rather than the exposure drafts and the Interpretations that follows the due process, which is stipulated in the Constitution. Lastly, the IFRS Interpretations Committee develops the issue and the approval of the Interpretations (Fasb.org, 2016). The Fair Value Measurement project was completed on May 2011 and at that time; the IASB issued IFRS 13 Fair Value Measurement. This is effective from the year 2013 and defines the term fair value, described about a single framework of IFRS for measurement of fair value and the disclosure about the measurements of fair value (Collings, 2012). According to the IASB conceptual framework 10F (a) measurement, draft discussion paper, the discussion of the staffs of the IFRS foundation in a public meeting of IASB has been presented. This particular paper represents the views of the individual member of the IASB. The particular section mainly discusses about the concept that guides the IASB at the time of selection of the measurement according to the revised or new IFRS (Fasb.org, 2016). This is important because the existing Conceptual Framework provides a little numbers of methods of measurement guidance and it indicates the particular method that should be used in order to run the business smoothly. Generally, the IASB proposes three principles of measurement. Firstly, the Principle 1 states that the particular measurement method provides the relevant information and it depends on the method of affecting the position of financial statement, profit and loss statement and the comprehensive income (Iasplus.com, 2016). It also includes the statements that show the changes in the notes and equity to the financial statements. Secondly, Principle 2 states that the cost of the measurement should be justified based on the advantages of reporting the particular information to the potential and existing investors, creditors, and other lenders. Thirdly, the Principle 3 states that the use of total numbers of various measures should be minimized in order to provide information that is relevant (Aasb.gov.au, 2016). It also includes the unnecessary changes should be avoided in the measurement methods and the particular changes should be explained in details. The IASB believes that the relevant method of measurement is depended on the process of fulfillment of the liability of an entity and the other is the process by which the asset is contributed to the cash flows of the future (Iasplus.com, 2016). The financial statements involve amounts and descriptions of the particulars that fit the elements of the statements. Measurement is the process of determination of amount that are presented on the each financial statements face (Collings, 2012). In other words it can be said that measures indicate the disclosed or presented amounts. Mainly three types of measurement methods that include fair value and various current prices, cost, and the measures based on the cash flow (Icaew.com, 2016). The particular discussion paper does not discuss only about the equity instruments measurement but also about the factors that are related to the initial measurement of the fair value that might be applicable to the equity instruments initial measurement. The equity method of the translation of the denominated amount in the foreign currency has also not been discussed in the particular paper, as the IASB believes that the particular issues might be dealt in a form of a project with the aim to repla ce or revise the existing IFRS regarding the particular topics (Icaew.com, 2016). There are various principles to measure these are to achieve the aim and objective of financial reporting, and the IASB proposed to involve a revised Conceptual Framework (Mackenzie et al., 2012). As rightly put forward by Ifrs.org (2016), the IASB follows various principles in the revised conceptual framework for appropriate financial reporting and explain the alliterative characteristics of the important financial information. The issues of measurement in the financial reporting needs to have proper relevance of the information that is given by a definite measurement method (Ifrs.org, 2016). The measurement method relies on the influence it exerts on the financial declaration of the financial position (Aasb.gov.au, 2016). In addition to this, the measurement method also exerts immense influence on the statements of [profit and loss], financial statement for the equity as well the notes to the pecuniary statements. The second principle of measurement can e suitable justified by the advantages of financial reporting that provides information from the data of the financial statements to the potential investors, creditors as well as the debtors (Collings, 2012). In addition to this, the measurement principle of IASB also includes the number of diverse measures that are considered to be minimum necessity in order provide pertinent information; convey information regarding the changes in the procedures of measurement and many more (Ifrs.org, 2016). The principles also help to alleviate the unnecessary modifications in the methods of measurement and explain the necessary modifications instead. The principle of relevance is derived from the concept of faithful representation given in the QC13 of chapter 3 that explains the conceptual framework (Ifrs.org, 2016). The principle essentially refers to the depiction of all the required information that an user can utilize by understanding the particular phenomenon that has been represented by including all the requisite illustrations as well as the descriptions (Mackenzie et al., 2012). However, IASB also needs to select all the suitable and most appropriate measures for avoiding the measurement issues and to depict the correct information in the financial declarations (Collings, 2012). The transactions and dealings are settled in cash and this appears either in the cash or in the short term accounts receivable section of the financial statement (Pwc., 2015). The business entity that involves in only the said economic activity of financial transactions faces certain measurement issues. Therefore, in that case the measurement criteria become significant as the business unit participates in complicated activities. Furthermore, the major proponents of fair value concentrate on the statement of financial position whereas units that prefer cost based measure concentrate on the statement for profit and loss (Ifrs.org, 2016). Therefore, the selection of the measurement on the foundation of either the statement of financial position or the profit and loss statement will not lead to the relevant information and can make way for fallacy (Collings, 2012). The discussion paper therefore analyses the different measurement methods that can be categorized as the cost based measures, fair value and the current market price and the other measures that are dependent on the expected cash flows (Iasplus.com, 2016). The discussion paper also concentrates on the principle that concentrates on avoiding the measurement issues such as the alleviation of the unnecessary information, selection of the measurement methods and modification of the measurement principles in a bid to enhance the relevance of the financial information (Icaew.com, 2016). References Aasb.gov.au, (2016).Australian Accounting Standards Board (AASB) - Home. [online] Available at: https://www.aasb.gov.au [Accessed 3 Jan. 2016]. Collings, S. (2012).IFRS for dummies. Chichester: Wiley. Fasb.org, (2016).FASB: Financial Accounting Standards Board. [online] Available at: https://www.fasb.org/ [Accessed 3 Jan. 2016]. Iasplus.com, (2016).IAS Plus. [online] Available at: https://www.iasplus.com/ [Accessed 3 Jan. 2016]. Iasplus.com, (2016).IAS Plus. [online] Available at: https://www.iasplus.com [Accessed 3 Jan. 2016]. Icaew.com, (2016).Welcome to ICAEW.com | ICAEW. [online] Available at: https://www.icaew.com [Accessed 3 Jan. 2016]. Ifrs.org, (2016).Fair Value Measurement. [online] Available at: https://www.ifrs.org/Current-Projects/IASB-Projects/Fair-Value-Measurement/Pages/Fair-Value-Measurement.aspx [Accessed 3 Jan. 2016]. Ifrs.org, (2016).IFRS - Home. [online] Available at: https://www.ifrs.org [Accessed 3 Jan. 2016]. Mackenzie, B., Coetsee, D., Njikizana, T., Chamboko, R. and Colyvas, B. (2012).Wiley IFRS 2012. Hoboken: John Wiley Sons. Pwc., (2015).Manual of accounting ifrs 2015 supplement. [S.l.]: Bloomsbury Professional.

Insider Trading The Galleon Group Company â€Myassignmenthelp.Com

Question: Discuss About The Insider Trading The Galleon Group Company? Answer: Introduction The development of the securities industry has come under possible great threat of insider trading by the stakeholders involved in the trading exercise as well as the nature of business conducted in the market characterized by high risks of potential loss and potential gains. However, the Securities and Exchange Commission has set forth different rules governing the trading of securities in different security markets. Globally this market has been considered as one of the greatest markets with many players investing in different sectors of the economy and helping in growth and development of the economic status of different nations. Our case study provides a detailed analysis of a case of insider trading within the Galleon Group of companies and the resultant effects to the culprits of the exercise. The company is privately owned and provides services and information about investment such as company stocks, bonds and other financial instruments (Sinkovics et al. 2014, p. 668). The co mpany has been making money for itself as well as for others by picking stocks and managing portfolios and hedge funds for different investors. It affirms to the truth of the statement that information gathering techniques are still coned under or on the Wall Street. Much of these activities of business investment decisions are done by a team of experts who are trusted by the company to make decisions on behalf of the company in stock exchange market (Crane Matten 2016, p. 2). However, in most cases, many individuals have been found engaging in illegal trading for their own personal gain motives and have cost other stakeholders involved in the trading and in the market. Using our case study provided then we shall get to understand different views and concepts in relation to information seeking behaviors which lead to insider trading and the possible solutions to be undertaken by business regulators, investors and executives to reduce the practice, the implications of illegal inside r trading and effectiveness of secret investigations in prevention of sharing of non-public information Analysis of information gathering techniques on Wall Street and possible solutions to reduce the practice It is true to say that information seeking techniques like those of Rajaratnam are common on Wall Street today. Raj Rajaratnam is the head of Galleon had been accused and indicted of 14 counts of securities fraud and conspiracy by being sued by the Securities Exchange Commission for engaging in insider training. Globally, Rajaratnam was a smart person who was known for different achievements in business world despite having degree in engineering, he had received a number of awards and promotions due to his efforts in running business, his experience and skills in financial analysis and especially in the banking industry and a number of years of experience in the industry and was known to be very influential and engaged in dirty businesses to avoid taxation or engaged in illegal business actions as long as the benefits from the deals (Cheng et al. 2014, p. 18). Therefore no one had harbored any illusion that Galleon Raj Rajaratnam was going to beat the tap for insider trading until he was sentenced to 11 years by the court a ruling in which his lawyers and representatives termed to be centered on ensuring that the man spends her entire lifetime at the prison. Information seeking technique in this contest can be understood from the concept of inside trading in which the term is used to imply the buying and selling of a security by someone in a position or has access to material nonpublic information about the security (Nofsinger Varma 2014, p. 187). It may also be defined as a practice whereby company securities are traded by individuals or someone who by any virtue of work have access to the non-public information which can be crucial in making an investment decision. This practice is highly discouraged by the securities and exchange commissions with the aim of protecting fair trade in the market for the benefit of common investors who engage in trading without any information on the securities and are considered to be fair players in such a market. Insider trading can be illegal or legal at the same time (Lopatta et al. 2015, p. 476). Illegal insider trading as an information seeking technique involves tipping others when you have or are in a position of any sort of non-public information. On the other hand legal insider trading in most cases happen when business directors or executives of a company purchase or sell shares or other company securities but disclose the transactions legally. In context of our case study, information seeking techniques on Wall Street would imply the processes that are used to create and organize information in lower Manhattan originally known as the New York home of stock exchange and the historic headquarters of the largest US brokerage and investment banks (Augustin et al. 2015, p. 1). Therefore Wall Street can be assumed to have all the information related to the buying and selling of securities. Rajaratnam and five others had been accused of using the non-public information from company insiders and consultants to make millions in personal profits in which these company insiders gave or sold relevant company information to Rajaratnam through agreed terms for their own benefit. The practice is thus found to be illegal as it gives certain groups of people an unfair advantage in the market and is also said to put the interests of the insider above those to whom he or she owes a fiduciary as well as encourages an insider to artificially influence the value of a company stock (Niessner, 2015, p. 1). The companies involved in securities exchange as well as the government through the regulating body, in this case, the Securities and Exchange Commission should always try to prevent insider trading in order to ensure the integrity of the markets and maintain their reputation. The commission as the regulator can, therefore, conduct constant monitoring of the trading activities of diff erent companies especially through the company events such as acquisition and announcement of company securities which in one way or the other may vary the stock price significantly (Pevzner Xin 2015, p. 203). This can help to establish whether the traders were legitimate or the trade was as a result of insider information being provided to those who instituted the trade just as it was in the case of Rajaratnam and five others who were convicted for insider trading. The regulators, as well as the company directors and executives, can take into consideration the complaints raised by the traders who might have lost substantial sums on large trades and conduct investigations of insider trader as such malpractices may drive away the company current and potential investors (Gao et al. 2014, p. 166). Such complaints help then analyze and identify the players in the market who are trading against the principles and ethics of the industry. They can also seek to obtain tips from company or firms whistleblowers that come forward with knowledge of the people trading such information in the company for an appropriate action to be taken. This information may prove to be very crucial in preventing future likelihood of losses due to insider information effect. The law provides compensation of 10 to 30 percent of any fines and charges of culprits in the courts to be given to whistleblowers (Grinblatt Titman, 2016, p. 1). Lastly, the companies should ensure tha t all the company officers and directors involved in buying and selling of company securities clear all their transactions with the chief legal officer and in case of any illegality the company and the regulators can take appropriate legal measures to sue the culprits. Implications of sharing confidential material information or insider trading The implication of the sharing confidential information cuts across all the parties involved in the business and has been elaborated in our case study. It is therefore important for all the stakeholders in the market to ensure that the market is fair to all players. Companies whose shares are publicly traded are required by law to openly disclose their financial statements at the designated and scheduled dates to the stock exchange (Armour et al. 2017, p. 1435). When this happens the market is said to be trading on fairgrounds and on equal terms to interested parties. Markets should provide an equal trading ground for all the parties and it is important that ethical standards guiding the business operations are held high in the business world. Using our case study analysis it is important to note that, Rajaratnam being an investment analyst at Needham and Co was able to develop a great networking of important trading officers from different companies (Asker et al. 2014, p. 355). This kind of networking enabled him or granted hi power to make precise security market predictions about companys financial situations and therefore he was able to develop his own company the Galleon Raj. Since he was able to obtain information of other companies in the market such as the Goldman Sachs Group, Intel Corp and the Mckinsey and Co he was in a position to engage in fraudulent trading activities by committing fraud and conspiracy. It was possible for him to maintain an ethical state of mind and hired individual analysis to examine the companys financial statements. By doing so this would not have led to any illegality and his company could have as well made profits and execute it in a professional and ethical manner (Anderson, 2014, p. 1). However his conspiracy and fraud actions led to the suffering of his business which was taxed a lot of money, it cost the other people who conspired together and pleaded guilty of charges and had to serve a jail sentence. Insider trading is an unethical business practice and whenever a company insider shares confidential information with an investor gets an unfair advantage and interferes with the integrity of the market. It is therefore unfair to share any confidential material information. This is because insiders have access to information that is not given to the public. Unequal possession of information is an advantage that cannot be competed away because the advantage depends on a lawful privilege to which an outsider cannot acquire access. Confidentiality is a very important business ethics (Ventoruzzo 2015, p. 560). It is therefore important to maintain the confidentiality of the important company information to build the trust of investors and other stakeholders. Sharing of company information leads to lack of trust with the company and finally affects the growth of the business. One of the key issues in security markets that business or companies should take care is the market integrity. The main reason why there are regulators such as the security exchange commission and the government through the central banks of different nations in the industry is to maintain the integrity of the market. Sharing of non-public information leads to distortion of market integrity and results to lack of investors confidence (Henning 2015, p.3). For instance, in our case study, it is evident that after the sentence of Rajaratnam and the effects his conspiracy and fraud activities had to the securities market many investors got scared away as the market could not be trusted anymore for investment. Another implication of sharing non-public information to the public is the fact that it drives away investors or reduces their confidence with the companies. This is because there is always a certain group of investors who benefit from the securities due to their ability to access insider information and always have an advantage in the trading process. This will automatically affect my decisi on on trading in the security market as well as any other interested investor (Davidowitz 2014, p. 281). The knowledge of this information gives you the certainty that the market is unfair and unequal to all people or all players in the market. In a country that pursues justice, it will also not be right to engage in such business as this may have led to severe consequences from the side of the law just as it was to Rajaratnam and his associates in conspiracy and fraud. Impact of the secret investigation on Rajaratnam and his associates to other managers and investors By taking into consideration the case of Rajaratnam and the people he had in his network of committing conspiracy, fraud and insider trading, no one could have thought that the arm of the law would one day catch up with him. It was a shock to the nation and entire world that such crimes despite your business influence can have such implications and effects (Anderson 2015, p. 339). Most business managers and investors in security markets always boast of their confidence in the market affairs because of the insider information they have and the networks they have created with different expert analysts on the same as well as consultants. I believe that this secret investigation just as it was a shock to the global business world had the same impact on other business managers and investors who have been practicing the same conspiracy and fraud. It must have shocked and scared them as well and I believe the punishment the culprits received from the court judgment scared the company inside rs. I believe this acted as a lesson to be learned by these business leaders and managers and therefore my assumption is that they will trade with caution whenever dealing with security markets (Dolgopolov 2014, p. 3). The security exchange commission can as well remove those companies from being listed in the stock exchange markets completely for violating the market trading principles and business principles as well as ethical standards of trading in stock and security markets. Conducting a secret investigation helps in identifying not only the key suspects or culprits in the trading process but also destroying all the networks which may have been created and could as well resulted to business cartels in the industry. It helps in identification of the loopholes in the industry and therefore it will be difficult for managers and other investors to exploit the same loopholes in conducting their conspiracy and fraud activities (Sinkovics et al. 2014, p. 701). The impact that the conspiracy and the insider trading had on Galleon Company, as well as the insider companies, served also as a great lesson to manager and investors and therefore they will always be in fear of collapsing their businesses by acting in an unethical manner whereas there is a possibility of doing the same business in within the required legal framework by employing credible and ethical business analysts who will promote the integrity of the markets as well as protect the image of their bus inesses and build a long-lasting client relationships in their businesses. The investigation, therefore, played a vital role to the redemption of the industry and its likely to bring about future success in the industry by creating a platform where investors can trade on equal grounds and having a fair competition in the sector which will contribute to increased growth. Conclusion Every business ought to be conducted in an in an ethical environment and its the responsibility of business managers to ensure that they are socially responsible for their business activities. The security market which is characterized with the trading of stocks, bonds, and other financial instruments is very important in the development of an economy and therefore the relevant regulatory frameworks should be developed in order to promote and protect the integrity of the markets. Insider trading has been one of the greatest challenges of trading in security markets and has had the industry grow at a slow pace as compared to trading in commodity markets (HajliLin, 2016, p. 115). However with the implementation of the relevant protectionist and regulatory frameworks the market will always remain the biggest market in any economy. It is important that all the stakeholders involved in the market to collectively work together to maintain a healthy competition in the market by trading unde r the established trade guidelines, under the established ethical standards and the regulatory framework established by the security exchange commission. This case study, therefore, plays an important role in helping the business world understand the importance of business ethics and being socially responsible in business activities. References List Agrawal, A. and Cooper, T., Insider trading before accounting scandals. Journal of Corporate Finance, Vol 34, 2016, pp.169-190. Anderson, J. Greed, Envy, and the Criminalization of Insider Trading, Utah L. Rev. 2014, p.1. Anderson, J. Anticipating a Sea Change for Insider Trading Law: From Trading Plan Crisis to Rational Reform. Utah L. Rev, 2015, p.339. Armour, J., Mayer, C. and Polo, A. Regulatory sanctions and reputational damage in financial markets.Journal of Financial and Quantitative Analysis, Vol 52, no. 4, 2017, pp.1429-1448. Asker, J, Farre-Mensa, J. and Ljungqvist, A, Corporate investment and stock market listing: A puzzle?, The Review of Financial Studies, Vol 28, no, 2, 2017, pp.342-390. Augustin, P, Brenner, M. and Subrahmanyam, M., Informed options trading prior to MA announcements: Insider trading?. 2015, Press. Cheng, B., Ioannou, I. and Serafeim, G. Corporate social responsibility and access to finance Strategic Management Journal, Vol 35, no. 1, 2014, pp.1-23. Crane, A. and Matten, D, Business ethics: Managing corporate citizenship and sustainability in the age of globalization Oxford University Press, 2016. Davidowitz, S, Abandoning the Mosaic Theory: Why the Mosaic Theory of Securities Analysis Constitutes Illegal Insider Trading and What to Do about It. Wash. UJL Pol'y, Vol 46, 2014, p.281. Dolgopolov, S, High-Frequency Trading, Order Types, and the Evolution of the Securities Market Structure: One Whistleblower's Consequences for Securities Regulation, 2014. Gao, F, Lisic, L. and Zhang, I, Commitment to social good and insider trading.Journal of Accounting and Economics, Vol 57, no 2, 2014, pp.149-175. Grinblatt, M. and Titman, S., Financial markets corporate strategy. 2016 Hajli, N. and Lin, X, Exploring the security of information sharing on social networking sites: The role of perceived control of information Journal of Business Ethics, Vol 133, no. 1, 2016, pp.111-123. Henning, J, What's So Bad About Insider Trading Law?. Business Lawyer, Vol 70, no. 3, 2015. Lopatta, K., Buchholz, F. and Kaspereit, T, Asymmetric information and corporate social responsibility Business Society, Vol 55, no. 3, 2016, pp.458-488. Niessner, M., 2015.Strategic disclosure timing and insider trading. Nofsinger, J. and Varma, A. Socially responsible funds and market crises Journal of Banking Finance, 48, 2014, pp.180-193. Pevzner, M, Xie, F. and Xin, X, When firms talk, do investors listen? The role of trust in stock market reactions to corporate earnings announcements. Journal of Financial Economics, Vol 117, no. 1, 2015, pp.190-223. Sinkovics, N, Sinkovics, R. and Yamin, M, The role of social value creation in business model formulation at the bottom of the pyramidimplications for MNEs?. International Business Review, Vol 23, no. 4, 2014, pp.692-707. Ventoruzzo, M. Comparing insider trading in the United States and in the European Union: History and recent developments European Company and Financial Law Review, Vol 11, no. 4, 2015pp.554-593.

Essay Sample Writing Tips - Why Simple Past Tense is Worse Than Grammatically Incorrect

Essay Sample Writing Tips - Why Simple Past Tense is Worse Than Grammatically IncorrectWhy are we always told to be careful using past tense sentences when writing a sample essay? Why can't you use simple past tense as often as you can with proper grammatical errors and sentences that flow nicely? Can you really get away with using simple past tense with your essay, or is it now forever ingrained in the minds of too many people that a writer who uses this wrong syntax cannot be taken seriously? This tutorial will show you how to effectively use simple past tense sentences with your essay.With too many people using improper, incorrect syntax in their essay, using simple past tense when writing a sample essay may be a hindrance. When using simple past tense, you are basically using a normal sentence with a period at the end. But instead of adding a new subject or attaching a new verb to the sentence, what you're actually doing is modifying the sentence structure by inserting the past t ense. We often use the past tense when modifying verbs like 'said'said', but not when modifying subjects.Let's take a look at a common grammatical error that many people make in their essay. It's called an 'assumption'. When writing an essay about anything, including yourself, the common error is to make an assumption about something. You assume that a situation is true. And because this is so common, many people are guilty of using this and their own experiences as an example when making their assumptions.So, instead of assuming that I have the ability to speak English or being accurate, a lot of people just assume. They make the assumption that because I am using the proper grammar and can write the proper sentence, I must be an expert in English and have exceptional skills. Now there is no way I can disprove these types of assumptions because I never know anyone who can speak English but there is a huge possibility that some people might be accurate in their assumptions.However, if we were to write a sample essay using simple past tense, and did not make any assumptions about the author's abilities and capabilities, and if we talked about a hypothetical situation, then the odds are that many of the assumptions made would be inaccurate. For example, rather than talking about a hypothetical situation, why not write about the experience of a person who has used this style? I'm sure that many of the assumptions made would then be shown to be untrue.Other times, not using simple past tense or past perfect would also cause many of the grammatical errors that the essay would have to deal with. For example, there are too many different times when past tense forms are used that it can be difficult to control and use the right form on every single use.You could be a teacher and use past tense when describing activities, events, situations and even years. But when you're writing a student's essay for college, your writing needs to be a little more professional. Using simple past tense would make the student feel awkward and not like you were being truthful.Use simple past tense when appropriate when writing a sample essay for a school essay. There is no need to rewrite the essay every time.

Child Welfare in the Together Youth Shelter

Aristotle Essays (859 words) - Natural Philosophers, Free Essays

Aristotle Essays (859 words) - Natural Philosophers, Free Essays Aristotle Aristotle, Galileo, and Pasteur can be said to have contributed significantly, each in his own way, to the development of The Scientific Method. Discuss. What is the scientific method? In general, this method has three parts, which we might call (1) gathering evidence, (2) making a hypothesis, and (3) testing the hypothesis. As scientific methodology is practiced, all three parts are used together at all stages, and therefore no theory, however rigorously tested, is ever final, but remains at all times tentative, subject to new observation and continued testing by such observation. Hellenic science was built upon the foundations laid by Thales and Pythagoras. It reached its zenith in the works of Aristotle and Archimedes. Aristotle (384-322 B.C.) represents the first tradition, that of qualitative forms and teleology. He was, himself, a biologist whose observations of marine organisms were unsurpassed until the 19th century. Biology is essentially teleologicalthe parts of a living organism are understood in terms of what they do in and for the organismand Aristotle's biological works provided the framework for the science until the time of Charles Darwin. Aristotle was able to make a great deal of sense of observed nature by asking of any object or process: what is the material involved, what is its form and how did it get that form, and, most important of all, what is its purpose? What should be noted is that, for Aristotle, all activity that occurred spontaneously was natural. Hence, the proper means of investigation was observation. Experiment, that is, alte ring natural conditions in order to throw light on the hidden properties and activities of objects, was unnatural and could not, therefore, be expected to reveal the essence of things. However, the establishment of the importance of classifying knowledge and of observation as well as the introduction of the deductive method of reasoning can be taken as Aristotles most significant contributions to the scientific method. Even after the intellectual revolutions of centuries to follow, Aristotelian concepts and ideas remained embedded in Western thinking. The critical tradition of science began with Copernicus in the sixteenth century. It eventually led to the work of Galileo (1564-1642), which criticised the very roots of the Aristotelian world system. With the invention of the telescope Galileo, in quick succession, announced that there were mountains on the Moon, satellites circling Jupiter, and spots upon the Sun. Moreover, the Milky Way was composed of countless stars whose existence no one had suspected until Galileo saw them. Galileo attacked the problems of the Earth's rotation and its revolution by logical analysis. Bodies do not fly off the Earth because they are not really revolving rapidly, even though their speed is high. In revolutions per minute, any body on the Earth is going very slowly and, therefore, has little tendency to fly off. Bodies fall to the base of towers from which they are dropped because they share with the tower the rotation of the Earth. Hence, bodies already in motion preserve that motion when another motion is added. So, Galileo deduced, a ball dropped from the top of a mast of a moving ship would fall at the base of the mast. If the ball were allowed to move on a frictionless horizontal plane, it would continue to move forever. Hence, Galileo concluded, the planets, once set in circular motion, continue to move in circles forever. Therefore, Copernican orbits exist. Galileo never acknowledged Kepler's ellipses; to do so would have meant abandoning his solution to the Copernic an problem. Galileo's originality as a scientist lay in his method of inquiry. First he reduced problems to a simple set of terms on the basis of everyday experience and common-sense logic. Then he analyzed and resolved them according to simple mathematical descriptions. The success with which he applied this technique to the analysis of motion opened the way for modern mathematical and experimental physics. Louis Pasteur (1822-1895) was a French chemist and microbiologist. His discovery that most infectious diseases are caused by germs, known as the germ theory of disease, is one of the most important in medical history. Pasteur's phenomenal contributions to microbiology and medicine can be summarized as follows. First, he championed changes in hospital practices to minimize the spread of disease

Aviation Maintenance and Engineering Research Paper

Aviation Maintenance and Engineering - Research Paper Example All of the maintenance savvy institutions were established in the 1960’s with a sole goal, to increase safety and life of their equipment and aircrafts. The first institution that was built was known as RCM (reliability-Catered maintenance) but united airlines engineers. This was followed by Boeing’s MSG which till present is known as the standard which has to be followed (Kinnison, 2004). All the details of such practices are highlighted in this report and will try to cover the modern aspects of aviation maintenance and engineering as well. Current Issues In the modern era, the aviation industry is faced with a constant threat that is known as human error. Although a lot of research work has been carried out to pin point the loop holes in human psyche, even then there is an alarming rate of accidents caused by the negligence of the human hand and mind. The maintenance of aircrafts includes fast turnaround time, high pressure and a high number of tasks being performed a t the same time. All these factors ca n lead to the lowering of human work manners while working on an aircraft or its components. Although, the advancement of technology has taken aircraft systems to a level which were un-imagined at the time when write brothers being laughed at, for having a dream that was never dreamt before. Powered flight was a dream, let alone sophisticated systems full of avionics loaded navigation systems and flight controls. All these innovations made sure that the systems improve but made the human rely more on technology and become complacent on his routine inspections and maintenance duties. The headings are bolded and centered. You should start off the paragraph with a simple left indent and start the discussion of the assignment. There is no gap between paragraphs. The aircraft incidents in the 70’s, 80’s and 90’s made the research and development teams of different aerospace companies think about different factors leading to these crashes. The most compelling factor that came out from the research was the human factor. Majority of the crashes were due to wither the pilot error or technician error caused by negligence in the filed-line. After this astonishing discovery many agencies were constituted and the silence system was bought in to action. This was the biggest factor involved in incidents when it was an unknown phenomenon, but still takes the lives of thousand as the human falters the moment checks and balances allow him some leverage. Therefore, strict rules have been enforced to eradicate this menace from the aviation industry (Adrian, 2005). A lot of training funds and seminars are being conducted over a period of time in all the aviation related agencies so that maintenance practices can be safe form such an issue, which can hamper the safety of operations of an airline. Current Practices The recent problems and practices in an airline company were easily pointed out by an internal study in an airl ine covering the local region as a part of its internal- research department project. This report was focused mainly upon some key factors like unplanned and unscheduled maintenance, spare parts and component maintenance. Some of the common factors that were noted in the process are explained in detail in the following part of the report. Un-planned

Assessment Assignment Essay Example | Topics and Well Written Essays - 2500 words

Assessment Assignment - Essay Example Here we will be critically analysing the effectiveness of this planning, teaching, evaluation and assessment cycle with reference to the current assessment theory. Also we will discuss the role of a teaching assistant in assessment process. We will learn about various methods for assessing children’s work such as verbal questioning, marking, setting homework, observing, peer and self assessment, using both formative and summative assessments. Planning –Teaching – Evaluation – Assessment Cycle This cycle of Planning, Teaching, Evaluation and Assessment is a standard which most school administrators want their teachers to follow. Now this complete cycle can either be executed after being completely programmed first or alternatively each step of this cycle can be planned and executed one by one. Previous method will be more successful in teaching higher grade students and latter will prove useful in teaching younger lot. It is obvious that for effective teaching this cycle has to be dynamic in nature and needs to be constantly updated as per the learning requirements of kids which become clearer after every assessment. Cairney opines (Cairney, 1995:161) that completely pre-planned programme is restrictive because If one adopts an approach to teaching that consists of a cycle of planning, teaching, assessment and evaluation and reflection then one must be open to changes to the teaching programme and be prepared to make constant adjustments to meet the changing need of learners. Every step / phase of this cycle governs the other steps. Planning This phase is the most important one as it gives you the way to walk on. Although Cairney stresses (Cairney, 1995:161) that there is no best format for planning or programming, and hence teachers should develop their own style that suits their needs. So every teacher needs to develop his / her own way of planning keeping some key