Universal Set of Principles in the Field of Accounting Essay

Introduction A principle is defined as a rule, or even an idea that forms the basis of deciding what is wrong and what is right in context to our actions. As opposed to principles, we all have our own personal practices and traditions, which determine our behavior in the society. These practices are determined from our culture, society, ancestors, experiences and religion etc. But since we live in a world where every person has their own set of practices and traditions, we cannot expect to live the way we want and this is where rules and principles come in. The very foundations of any principle are built upon its underlying morals, ethics and laws, which are expected to be accepted universally (Chippendale, 2001). A society may have its†¦show more content†¦The paper then evaluates International Accounting Standards Board’s (IASB) attempts to develop a conceptual framework and the current state. In the final section I will discuss and reflect upon the evidence presented to support the topic of this essay along with a conclusion of facts and ideas presented. The need for a conceptual framework As we can understand from above that one person’s principle cannot necessarily be another one’s too; there needs to be an independent body, which can produce universally acceptable principles to resolve matters systematically and uniformly. When we talk about the introduction of a universal set of principles in the field of accounting, it was the famous stock crash of 1929, which wreaked havoc in the financial markets around the globe and created a situation where the need for generally accepted accounting principles was felt the most! (Lawrence et al, 1993). The resulting economic downturn, which lasted until 1939, was one of the gravest depressions ever recorded in the history and a lack of universal accounting standards was blamed to be one of the reasons for over valuation of stocks and overtrading. Although the depression arose in the United States but output losses, deflation and job cuts were observed all over the globe (Romer, 2003). Between these times the acc ounting profession started to promote the idea of independent audits andShow MoreRelatedHow Ethics Is Important For Business Environment1563 Words   |  7 Pages Ethics is a system of moral principles and standards that direct us to the behavior that is acceptable from the society. It is a combination of our good habits, our duties that we should accomplish, and the impression we leave on others based on our behavior. 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The World Of The Holocaust - 3420 Words

The Holocaust (Ancient Greek word for: a sacrifice completely burnt on the altar) also known as the Shoah (Hebrew word for: which specifically denotes the Nazi effort to annihilate the Jew, â€Å"catastrophic†), was the methodical, administrative, state-sponsored persecution of the murder of six million Jewish People, between 30th January 1933 to 8th May 1945. This annihilation was initiated by the members of the National Socialist (Nazi) Party and its collaborators who seized power in 1933. The Nazis believed in the doctrine of racial superiority, that Germany were â€Å"racially superior† and that the Jews, deemed â€Å"inferior†. During this era of the Shoah, Nazi Germany also targeted other groups of their supposed â€Å"racial inferiority†: Gypsies, the†¦show more content†¦Within months of Hitler becoming chancellor, he introduced a law that allowed compulsory sterilisation to those people with physical or mental disabilities where they wer e legally forced to have an operation to stop then from having children. In total 400 000 were sterilised and approximately 5000 people died. On top of this 70 000 were killed under the ‘T4’ euthanasia program, the Germans first program of mass murder, preceding the genocide of the European Jewry. Eventually the Nazis gradually restricted the rights of the German Jewish citizens where Anti-Semitism and Eugenics (a pseudoscience that aims to ‘improve’ the human gene pool) combined in Germany racial policies. This violence continued against the Jewish people and sought to remove all Jews from the government, where Nazi followers were encouraged to commit acts of violence and destruction against Jews and their property. The laws also limited the number of Jewish students allowed in public schools, many were banned from public places, and Jewish officers were expelled from the army, and transferred ownership of many of the Jewish business to non-Jewish Germans . Similar Nazi obligations were also pressed on other groups like the Romani people and from 1936 they were forced into internment camps. As Hitler’s policies began to take hold, many Jewish People (and Germans), refused to believe the reality of what was occurring around them. Some people left Germany, including the famous

Contingency theory free essay sample

Contingency theory is a class of behavioral theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions. Instead, the optimal course of action is contingent (dependent) upon the internal and external situation. A contingent leader effectively applies their own style of leadership to the right situation. In contingency theory of leadership, the success of the leader is a function of various contingencies in the form of subordinate, task, and/or group variables. The effectiveness of a given pattern of leader behavior is contingent upon the demands imposed by the situation. These theories stress using different styles of leadership appropriate to the needs created by different organizational situations. No single contingency theory has been postulated. Some of the theories Systems Theory: the transdisciplinary study of the abstract organization of phenomena, independent of their substance, type, or spatial or temporal scale of existence. We will write a custom essay sample on Contingency theory or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It investigates both the principles common to all complex entities, and the (usually mathematical) models which can be used to describe them. Systems theory was proposed in the 1940s by the biologist Ludwig von Bertalanffy (: General Systems Theory, 1968), and furthered by Ross Ashby (Introduction to Cybernetics, 1956). von Bertalanffy was both reacting agaInst reductionism and attempting to revive the unity of science. He emphasized that real systems are open to, and interact with, their environments, and that they can acquire qualitatively new properties through emergence, resulting in continual evolution. Rather than reducing an entity (e. g. the human body) to the properties of its parts or elements (e. g. organs or cells), systems theory focuses on the arrangement of and relations between the parts which connect them into a whole (cf. holism). This particular organization determines a system, which is independent of the concrete substance of the elements (e. g. particles, cells, transistors, people, etc). Thus, the same concepts and principles of organization underlie the different disciplines (physics, biology, technology, sociology, etc. ), providing a basis for their unification. Systems concepts include: system-environment boundary, input, output, process, state, hierarchy, goal-directedness, and information. The developments of systems theory are diverse (Klir, Facets of Systems Science, 1991), including conceptual foundations and philosophy (e. g. the philosophies of Bunge, Bahm and Laszlo); mathematical modeling and information theory (e. g. the work of Mesarovic and Klir); and practical applications. Mathematical systems theory arose from the development of isomorphies between the models of electrical circuits and other systems. Applications include engineering, computing, ecology, management, and family psychotherapy. Systems analysis, developed independently of systems theory, applies systems principles to aid a decisIon-maker with problems of identifying, reconstructing, optimizing, and controlling a system (usually a socio-technical organization), while taking into account multiple objectives, constraints and resources. It aims to specify possible courses of action, together with their risks, costs and benefits. Systems theory is closely connected to cybernetics, and also to system dynamics, which models changes in a network of coupled variables (e. g. the world dynamics models of Jay Forrester and the Club of Rome). Related ideas are used in the emerging sciences of complexity, studying self-organization and heterogeneous networks of interacting actors, and associated domains such as far-from-equilibrium thermodynamics, chaotic dynamics, artificial life, artificial intelligence, neural networks, and computer modeling and simulation.

Power of Children in the Tourism Industry

Introduction Across the world, tourism is a major economic activity, which contributes significantly to the economic growth of many countries that have tourist attractions. Since people are social beings, they like travelling to various tourism destinations as tourists.Advertising We will write a custom essay sample on Power of Children in the Tourism Industry specifically for you for only $16.05 $11/page Learn More Since routine schedules of workplace and businesses are boring, people use tourism as a means of rejuvenating, gaining motivation, and reflecting about their lives. Over the recent past, tourism has experienced outstanding changes in terms of consumers and their preferences. One of the main entrants into the tourism and hospitality market is the set of consumers that comprise of families and young children. As opposed to the past, where fathers made major decisions concerning holiday destinations, mothers and children are now active participa nts in decision-making and even have the power to influence the choice of destinations that families visit during holidays. Therefore, the essay describes the families as potential consumers of tourism products and cites the influence that children have in choosing tourism destinations. Influence of Children in Holiday Decision Making Children are part of the family and make up an influential segment of decision makers in the family and thus they participate actively in decision-making. Remarkably, the number of families that visit tourist destinations and hospitality facilities has risen over the recent past to a significant level. The rising demand for tourism and hospitality products that cater for the needs of families has led to shifts and adjustments in various establishments, which provide tourism and hospitality products in the quest to meet family expectations.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper wit h 15% OFF Learn More Some of the ways that children affect the decisions that families make on holiday destinations include their preferences, purchasing decision, buying behaviours, choice of locations, accommodations, activities, and influences from their peers. According to Blichfeldt et al. (2010), children have varied preferences in terms of location and activities, as well as the types of products that they like consuming. These differences usually determine the holiday choices of parents since they have to consider the differences when making decision about holiday destinations. Purchasing decisions and buying behaviours of children are different from that of adults. As opposed to adults, who do not engage in impulse buying, children tend to purchase various products irrespective of the holiday budget. Additionally, children love products such as snacks and games, which may not be in the set of adult preferences. Due to the existing differences in buying patterns and behaviours, families decide holiday destinations to visit based on the differences. Several hospitality and tourism establishments are currently aligning their services so that they can provide services that do not only meet requirements of adults, but also satisfy the needs of children (Kang, Hsu, Wolfe 2003). The alignment of services by hospitality and tourism facilities happens because children are currently among the major consumers of tourism products. The influence of children in families has compelled several families to visit those destinations that offer services, which match the desires of both adults and children. Children influence the choice of locations, accommodation facilities, and the type of activities that families engage in during the holiday. The influence that children exert transpires because of the diverse tastes, likes, and dislikes of adults and children.Advertising We will write a custom essay sample on Power of Children in the Tourism Industry spe cifically for you for only $16.05 $11/page Learn More Families that are on holidays usually try to ensure that each individual in the family enjoys the holiday. Therefore, families prefer visiting a destination that has the facilities, which satisfy adult and child requirements. Theme parks, arboretums and other tourism facilities and establishments, which offer services such as face painting and bouncing castles, make up the main types of destinations that families prefer visiting. Conversely, destinations that only meet requirements of adults receive several adults as opposed to families. Philips, Canter, and Abbott (2011) argue that the numbers of hotels that provide family facilities are increasing in several tourism and hospitality establishments. The power of children in families implies that they dictate the locations that families visit, the type of accommodation facilities, and the type of activities that families undertake during the holiday. Peer influence is another factor that affects the choice of holidays among families, especially children. Since children are vulnerable to influences and coercions from their friends, they are likely to use the pressure from friends to determine holiday destination for families. Children can compel a family to visit a destination that their colleagues visit, as they need the company of their friends and peers. As a result, children are currently dictating the choices that families make concerning the locations and places to visit during holidays (Marino 2003). In some instances, families compromise their likes and preferences with a view of satisfying the needs and demands of their children. The compromise that parents make regarding their preferences and needs evidently outlines the force and power that children have on the holiday choices.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Probability of Common Decision Making Due to the diverse perceptions, motives and interests towards tourism and hospitality establishments, parents and children often vary in terms of locations to visit. The variance can lead to dissatisfaction among parties in the family, who feels oppressed or undermined in line with the choice of place or holiday destination (Boterhill Haven 2003). However, there is a chance of families coming to a mutual agreement on the destination that they want to visit during the holiday. Compromise, involvement, safety, and attractions are some of the factors that families can use to achieve a common decision on the place to visit. Since it is impossible to satisfy the needs of all individuals in a family, parents can compromise and adjust their perceptions, likes, and preferences so that they ensure that their children enjoy their holiday and the choices they make. Families can involve their children in the decision-making process as it enables them to un derstand various needs and expectations that their children have concerning the choice of place to visit during holidays. Poor participation of children in families on aspects like holiday destinations results in assumptions from parents, who believe that a certain place is good for their children when children hold contrary opinions. Therefore, it is very crucial to involve all the stakeholders in the family, which are the children and parents, in holiday decision-making. When all individuals in a family take part in the decision-making process and present their opinions, feelings of satisfaction and fulfilment develops in their minds. The feelings develop because the individuals know that other people in the family respect and honour their points of view. According to Goh et al. (2010), every individual has diverse opinions and perspectives on the types of tourism products that they love consuming. Therefore, child involvement in decision-making is very instrumental in achieving a common decision in the choice of place to visit during family holidays. Safety is another factor that compels families to make a common decision as it overrides personal preferences and likes. Regardless of the tourism and hospitality products offered by a tourism attraction, insecurity renders the subject location unsuitable for tourism. Children and parents in the family opt to visit destinations, which are safe and secure for the safety of their families is crucial factor that they cannot overlook. Onder, Yoldorom, and Ozdemir (2013) explain that safety is one of the major factors that determine consumer’s choices of tourism locations. Presence of insecurity in a destination drives tourists away from the region because it is a push factor in tourism. Travel advisories, and embassies are very important in the passage of information to the society on safe locations to visit. The common agreement is obtainable in the context of safety because parents and children believe in the importance of peace and tranquillity and loathe the outcomes orchestrated by insecurity. External Factors that Prompt Holiday Decision-Making Families just like other types of tourists respond in similar ways to externalities that affect other tourists in decision-making. Some of the externalities that affect families in deciding the locations to visit include induced image of a destination, push and pull factors, pricing, and flexibility of tourism and hospitality establishments. Families are likely to visit regions or establishments that have good reputation and image. Good reputation and image emerge due to the services provided by the facilities to consumers, who market them through a word of mouth to other potential consumers (Bjork Jansson 2008). The marketing image that a destination receives from past consumers and the level of advertisement influence the willingness of consumers, especially families. It is imperative to understand that the image of a destination is dep endent on factors such as security, economy, and the interrelationships among countries that service providers cannot manipulate or change. Push and pull factors are those factors that either drive tourists away from the tourist attraction or bring them to the attraction. Goodrich (2014) asserts that the push factors scare tourists away from the attraction, while the pull factors attract tourists to an attraction. Insecurity and conflicts among countries, recession, language barriers, and the inflations are some of the push factors that increase unwillingness of families to visit certain tourist destinations. On the other hand, good relationships among countries, economic balance, and good security are among the factors that increase the willingness and the tendency of families to visit and consume tourism products in subject regions. Remarkably, push and pull factors are not within the control of service providers in the tourism and hospitality industry, and thus, they have no cont rol or power over the factors. Pricing determines the choice of destination that families choose to visit because families are among the types of tourists, who value their money and need effective utility. As opposed to past consumers, who focussed on the quantity of products that facilities offered, modern consumers emphasise on the quality of the services in relation to their attached value (Marino 2003). In this regard, consumers often go for services that promise value for their money. Costs associated with labour and raw materials determine the price charged on a good or service. The rise in cost of raw materials causes a corresponding increase in the cost of production (Ballantyne Packer 2009). The increase compels service providers to increase the cost of services that they offer. The fact that food prices and the prices of other tourist services like sightseeing and transport depend on the changes in the economy and global product prices implies that service providers have very little influence on the price. Flexibility of service providers in the tourism and hospitality industry is one of the essential factors that influence families using certain facilities and consume the services offered. If a facility is flexible, then it quickly adjusts to the prevailing consumer requirements and provides consumers with what they expect, and thus, satisfy them (Ballantyne Packer 2009). Tourism destinations also need to be flexible so that they can deliver what is best for the consumers, who comprise of children and adults. When families realise that a destination quickly adopts modern technologies and copes with their changing requirements, their willingness to visit the destination increases. According to Fuller et al. (2007), consumers in the tourism and hospitality industries are very trendy and ever changing, therefore, service providers in the industry must be flexible and adaptive. The need for flexibility in hospitality and tourism establishments is due to the changes that consumers portray in the industry, which are unstoppable, uncontrollable, and unpredictable. Conclusion In the recent past, a new type of tourism has developed in the field of tourism. The new type of tourism comprises of families, which are increasingly travelling to various destinations and consuming the services provided by the establishments of tourism and hospitality. As a new entrant in the tourism and hospitality market, families pose a challenge to the industry since they require the creation of new facilities that cater for the requirements of children and adults. Remarkably, children have also changed the choice of holiday destinations that families visit as they dictate the families to choose places that meet their needs and preferences. References Ballantyne, R, Packer, J 2009, ‘Trends in Tourism Research’, Annals of Tourism Research, vol. 36, no. 1, pp. 149-152. Bjork, P, Jansson, T 2008, ‘Travel Decision Making: The Role of Habi t’, An International Multidisciplinary Journal of Tourism, vol. 3, no. 2, pp. 11-34. Blichfeldt, B, Johansen, A, Pederson, B, Hansen, L 2010, ‘Teens and Vacation Decision Making’, Journal of Tourism Consumption and Practice, vol. 2, no. 1, pp. 1-20. Boterhill, D, Haven, C 2003, ‘Virtual Learning Environment in Hospitality, Leisure, Tourism, and Sport’, Journal of Hospitality, Leisure, Sport, and Tourism Education, vol. 2, no. 1, pp. 75-92. Fuller, D, Wilde, S, Henlon, J, Mason, S, Armstrong, B 2007, ‘Destination Choice An Exploratory Examination of Visitor Behaviour in Coastal Tourism Destination on Australia’s East Coast’, Journal of Travel and Tourism Marketing, vol. 5, no. 1, pp. 45-52. Goh, D, Ang, R, Lee, C, Lee, K 2010, ‘Determining Services for the Mobile Tourists’, Journal of Computer Information Systems, vol. 51, no. 1, pp. 31-40. Goodrich, J 2014, ‘The Relationships between Preferences and Percepti ons of Vacations, Destination: Application of a Choice Model’, Journal of Travel Research, vol. 53, no. 3, pp. 8-13. Kang, S, Hsu, C, Wolfe, K 2003, ‘Family Traveller Segmentation by Vacation Decision Making Patterns’, Journal of Hospitality and Tourism Research, vol. 27, no. 4, pp. 448-469. Marino, E 2003, ‘The Strategic Dimension of a Destination Image. An Analysis from the Italian Tourists Perceptions’, Journal of Travel and Tourism Marketing, vol. 9, no. 4, pp. 47-67. Onder, E, Yoldorom, B, Ozdemir, M 2013, ‘Multi-Criteria Approach for Evaluating Tourism Destinations in Turkey’, Academic Journal of Tourism and Management Research, vol. 1, no. 1, pp. 1-15. Philips, W, Canter, D, Abbott, J 2011, ‘Hospitality and Tourism Research Ranking’, Journal of Hospitality and Tourism Research, vol. 35, no. 3, pp. 381-416. This essay on Power of Children in the Tourism Industry was written and submitted by user Isabell Wilkinson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.