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International Monetary System Of The European Economies

ECON310-1603B-08 Instructor: Janet Hunter Unit 4- International Monetary System Amanda Kranning September, 2016 International monetary system Immigration of refugees into other economies has been an issue in the affected countries that play a vital role in the harboring of refugees. It goes without saying that the influx of refugees comes with some standing effects that may influence the financial system of the recipient countries positively or negatively. Having been an issue for some time European economies are affected by the influx of immigrants. The resulting effects are quite varied and influence some spheres in the economics scale mainly on how the influx of refugees impact the public finances, how the refugees affect the labor markets and what effects it has on healthcare systems. This paper focuses on the diverse effects of the refugees on the European economies at large. Overtime the effects of the arrival of refugees in the European economies have affected the economies significantly more. Reliable resources have proven that migrants contribute less in terms of public finances because apparently they offer minimum taxes as injections into the public expenditure. (Eichengreen, 1998) However, they can do more in terms of contributing to the net expenditure of the affected countries by improving their employment rates. That way, they get to contribute more to the economies in terms of public finance. Other sources claim that refugees haveShow MoreRelatedEconomic Integration and Global Markets to Uk Business Organizations1735 Words   |  7 Pagesdefinition of International trade------------------------3 The reason of International trade----------------------------3 The importance of international trade---------------------3 Economic integration and global markets to UK business organizations-----------------------------------------4 The impact of two policies of the European Union on UK business organizations------------------------------------5 The impact of fiscal policies on the UK business------------5 The impact of monetary policy on theRead MoreArticle: Euro Effects1717 Words   |  7 Pagesï » ¿Euro Effects Introduction European Monetary System (EMU) is the arrangement by following which most EU (European Union) nations have connected their currencies to put a stop to great changeability and vacillations relative to one another. It was in 1979 that this system was organized in order to soothe and stabilize the foreign exchange and respond to price increases among member nations. However, sporadic changes not only elevated the values of strong currencies but at the same time, loweredRead MoreGlobalization and Trade Liberalization708 Words   |  3 Pagestransports and communication cost . The third wave of globalization starts to rise again after the decline of the communist system and the victory of democracy, free market and economic liberalization. This waves lead to many developing countries get into the global markets, and some developing countries facing the declining of income and rising of poverty and the international migration and capital movements, which were insignificant during second wave globalization, have become more extensive. SpainRead MoreGreece Economic Crisis Analysis986 Words   |  4 Pagesif not greater than the U.S. Great Depression. The source of the crisis originated in the inefficient management of the Greece’s economy and government finances. Additionally, Greece’s involvement in the euro zone reflected a monetary policy that was at odds with its fiscal policy. The crisis resulted in troika providing emergency funds to pay off Greece international loans. The cause of Greece’s financial crisis was led by two factors. First, the country was undermined by political misconductRead MoreBanking, Money and Finance, Article Analysis Essay1520 Words   |  7 Pagesdiscussing of bank deposits and loans in the monetary transmission mechanism. It would lead the financial system to achieve monetary stability and creation of sound financial structure. The monetary policy implemented by bank can influence the real economy through monetary transmission mechanism such as money channel and credit channel. For example, in the short run, bank may sell off their securities holdings to deal with liquidity problem while loan in economy still remained the same. However, loanRead MoreShould Greece s Debt Soon Be History?1219 Words   |  5 PagesGermany and France has loaned billions of euros and are now trying to create a plan to solve this problem. The International Monetary Fund, European Central Bank and other organizations have declined all of Greece’s request for more loans. Although the majority countries in the world have debt, Greece has been loaned billions of euros from many european countries, the EU, and other international organizations; this is a problem because this country is doing all in its power to accept more grants, unwillingRead MoreWhy did the Bretton Woods system came to an end?1504 Words   |  7 Pagesï » ¿Why did the Bretton Woods system come to an end? The Bretton Woods system was created in July 1944 by the United States and its allies in order to formulate a plan for European recovery and create a new postwar international monetary and financial system that was supposed to encourage grow and development (Balaam, Dillam 2011). The Bretton Woods financial and monetary structure was supposed to ensure exchange rate stability and encourage its member countries to eliminated exchange rate restrictionsRead MoreSimplified Chinese English German Traditional Chinese Essay1707 Words   |  7 PagesPractical Accounting Work Plan Work Summary Fiscal Levy Securities Finance Financial Management Public Management Location:Research Papers Center economics papers International Trade papers papers Analysis of the European debt crisis continue to simmer China s influence and inspiration Papers Category:Economics Papers - International Trade Papers Post Time:2012-4-30 11:32:00 [Abstract] December 2010 the world s three major rating agencies downgraded Greece s sovereign rating, which the GreekRead MoreThe Internationalization Of Chinese Currency1259 Words   |  6 Pagesfinancial system and financial markets, cumbersome capital control, make RMB internationalization face difficulties (Cohen, 2008). This paper departure from international currency, and then further discusses about the meaning and current situation of RMB internationalization, and the costs and benefits of RMB internalization, and then related to the current Chinese economic circumstances, give some opinion about the process. INTERNATIONAL CURRENCY According to Peter B Kenen, an international currencyRead MoreThe European Central Bank ( Ecb )1277 Words   |  6 Pagescollection of 19 European countries. Together, the Eurosystem is the third largest economic system in the world, falling just behind the United States and China (https://www.ecb.europa.eu/mopo/eaec/html/index.en.html). The European Central Bank (ECB) acts as the head of the Eurosystem, providing the citizens of 19 European nations with a single currency (ECB WEBSITE). The area that is within the jurisdiction of the ECB is collectively known as the Eurozone. Due to the dependent nature of European countries

Learning Personality Theories - 1154 Words

Learning Personality Theories PSY/405 August 8, 2011 Linda O Connor Learning Personality Theories Psychologists have attempted to explain personality with the development of various personality theories. Each theory varies in regard to explanations and views. Each theory of learning personality provides explanations, ideology, and dimensions. Learning personality theories focus mainly on interactions individuals have with his or her environment. Each theory believes that individuals react with his or her environment based largely on cognitive factors. In this paper, learning personality theories are examined. Behavior Analysis Theory According to Feist and Feist (2009) behavioral theorist Skinner, Watson, and Thomdike believe†¦show more content†¦The social cognitive theory is found to be a useful theory among teachers and therapists. Cognitive Social Learning Theory The cognitive learning theory of personality is very influential in the understanding of knowledge and personality development. According to Miller (1992) Bandura has the most accreditation for the development of the ideas within the cognitive social learning theory. Many propositions of Bandura follow primary concepts of typical personality theories, but offer that individual reinforcements do not show basis for sole accreditation of learning. According to Miller (1992) three central components create the cognitive social learning theory: people learn through observing, internally-driven mentalities are necessary for the learning process, and learning a behavior does not always equal a change. Observational Learning According to Drewes (2008) the learning theory consists of three observable models. The first model is live and contains a human that demonstrates or acts out a particular behavior. The second model requires verbal instructions that involve explanations and descriptions of a certain action. The third model involves symbolism of actual or fake characters that display behavior typical of certain literature, movies, television series, and online material. Intrinsic Reinforcement According to Drewes (2008) externally and environmentally-drivenShow MoreRelatedPersonality Theories And Social Learning Theories Fit That Bill881 Words   |  4 Pagesveracity of the theories already in play. One can put that down to the nature of the human mind. A psychologist does not have the same luxury a physicist does in his or her research. In that regard, there are theories that may at times seem to be conflicting. The two families of trait theories and social learning theories fit that bill. This paper shall look at the two, analyze the main proponents and then relate them to policy and everyday life. One of the foremost authorities on trait theory is EysenckRead MorePsychology : Learning, Development, Stress And Health, And Personality Theories1590 Words   |  7 PagesDuring psychology class, I learned about many different theories that different people came up with to clarify how we act today. In this paper i’m going to use my knowledge of learning, development, stress and health, and personality theories and integrate them with my life. Although, as a child, observational learning and classical learning played roles in the way I am today; operant learning has really impacted me the most. operant learning is when reinforcements are used to either decrease or increaseRead MorePersonality Is Developed From Genes ( Nature ) Or Influenced By Environment ( Nurture ) Essay1436 Words   |  6 Pagesperson’s personality is developed from genes (nature) or influenced by environment (nurture). Personality is something every human has and is an essential element in their social world. This research is important to know if, how, and why personalities change. Different scholarly-based material was used to support either stance on the issue. The articles and research helped to decipher the roles of parents, genes, biology, the environment, experiences, and culture in a person’s personality. PersonalityRead MoreThe Nurse s Role As Educator And A Review Of Learning Theories1546 Words   |  7 PagesRole as Educator and a Review of Learning Theories Nurses are critical to the success of patient education in the health care setting. The amount of time that nurses spend at the bedside, positions them to help families cope with illness, prevent disease, promote health, and learn the self-care skills for discharge planning. In this paper, I will summarize some of the topics from Susan Bastable’s textbook, Nurse as Educator: Principles of Teaching and Learning for Nursing Practice. The readingRead MoreDichotomy Between Theory and Practice in Education1173 Words   |  5 PagesThe interaction between â€Å"theory† and â€Å"practice† in education is a dichotomy that people have been trying to understand for over 2,000 years. The relationship between theorists and practitioners is very complicated because there are issues that surround the pace of change in theory and practice. The debates that have occurred continue to occur through today in an array of perspectives about the purpose of education and about how to encourage learning. Practical knowledge can be defined as knowledgeRead MoreSynthesis Of Learning Theories Of Teaching1356 Words   |  6 PagesSynthesis of Learning Theories With advancements in technology, globalization and living in a never changing society, life-long learning is crucial to keep adults able to function and evolve in the world. Being self-directed learners, adults need an environment that engages and challenges them to learn. Discovering how an adult learns and what motivates them is an integral part to successfully teaching adult learners. Desire is the most important factor in adult learning. Having personalRead MoreResearch On The Distance Learning Student Essay1118 Words   |  5 PagesResearch on the Distance Learning Student Ting Wang Emporia State University In Sahin’s research (2008), he was trying to find if the selection of technologies chosen for online learning could be used to reflect learners’ preferences and related characteristics. According to the research among 279 students in five online undergraduate courses, the Moore’s Transactional Distance Theory may connect with Kolb’s theory, which means three dimensions learning may link with two-dimensionalRead MoreWhy Students Learn Different Ways And Usually Take Through Information From All Of Their Senses1445 Words   |  6 Pagesactivities. These activities will aim to support the learning types when retaining new knowledge. This will hopefully demonstrate to the students how different learning types learn better by doing different things. These activities are based on the David Kolb’s (1984) theory that students learn in different ways based on their personality type, educational specialisation, and career choice. I have used mnemonics as an example to demonstrate the learning theory. I have chosen the topic of mnemonics becauseRead MoreNotes On Training And Staff Development767 Words   |  4 PagesCompanies are creating a learning culture that is imperative to today’s economy. There are organizations though that are continuously struggling with achieving such a learning and development style. As organizational structures become bigger and function more smoothly, employees must become more self-sufficient in solving their own problems and taking the initiative to acquire the skills and knowledge necessary to perform effectively and efficiently. The Adult learning theory provides a basis for understandingRead MoreLearning Theories : A Learning Theory1164 Words   |  5 Pages Learning theories video script 8) What is meant by learning theories? Learning theories are essentially explanations of how learning occurs represented through conceptual frameworks in order to explain changes in behaviour and how knowledge is absorbed, processed and retained during learning. The learning theory adopted during teaching as well as cognitive, emotional, environmental influences and prior experience, all play a part in: A change in individual’s knowledge Ability to perform a skill

Author Christopher Browning - 867 Words

ABOUT THE AUTHOR: Christopher Browning is a historian on the holocaust and Nazi Germany. He is the Frank Porter Graham distinguished professor of history at the university of North Carolina at Chapel Hill. THE SUMMARY: Ordinary men take place during the summer of 1942 in the polish village of Jozefow. The book tells us the story of normal working family men of the Reserve Police Battalion 101 who were commission into carrying out horrific crimes and mass killings on Polish Jews. The main characters in the book are, Captain Wolfgan Haoffmann and Julius Wohlauf, Lieutennat Hartwig Gnade and Major Wilheln Trapp who was known by his men as â€Å"Papa Trapp† he is the commander of the Reserve 101 and was a protector for his men. The members were from a variety of ages and different walks of life they also weren’t representative of the model of Nazis. Their journey through the horrific orders and the circumstances they faced upon their return to domestic life. THE SOURCES: A. Primary sources: 1. Sergeant Toni Nentheim, description of the march of Jews. Browning, p. 81) 2. Walter Zimmermann makes distinctions between large and small executions. (Browning, p. 128) 3. Adolf Bittner’s opposition to the battalion’s jewish actions. (Browning, p. 129) B. Secondary sources: 1. Raul Hilberg The Destruction of the European Jews (Browning, p. xvi) 2. Nechama Tec. When Light Pierced the Darkness: Christian Rescue of Jews in Nazi-Occupied Poland. (Browning, p.71) 3. John Dower, War WithoutShow MoreRelatedAnalysis Of The Book Ordinary Men Essay1815 Words   |  8 Pagesrobots under Hitler’s command, and nothing else. While reading this book I began to realize that these people were living human beings too, that at first felt disgusted by what they were instructed to do too and that’s what I think the author, Christopher Browning, was trying to do. He is saying that these men were just regular people that were trained to kill and that if we’re not aware of this phenomena that it could happen again. The Order Police began after World War I. Germany wasRead MoreOrdinary Men Book Review Essay976 Words   |  4 PagesOrdinary Men Christopher Browning describes how the Reserve Police Battalion 101, like the rest of German society, was immersed in a flood of racist and anti-Semitic propaganda. Browning describes how the Order Police provided indoctrination both in basic training and as an ongoing practice within each unit. Many of the members were not prepared for the killing of Jews. The author examines the reasons some of the police members did not shoot. The physiological effect of isolation, rejection, andRead MoreChristopher Browning s Ordinary Men1241 Words   |  5 PagesChristopher Browning is an American historian whose research mainly focuses on Nazi Germany and the Holocaust. Browning has been teaching about this specific field for thirty years, since 1974. He has published many different notable books in regards to Nazi Germany and the events that occurred during the time of the Holocaust. Some of the books written by Browning are, Remembering Survival: Inside a Nazi Slave Labor Camp (2010), The Final Solution and the German Foreign Office (1978), and NaziRead MoreWas German ‘Eliminationist Anti-Semitism Responsible for the Holocaust?832 Words   |  3 PagesNazi Party, played a vast role in the extermination of Jews during the Holocaust . Daniel Jonah Goldhagen, author of â€Å"The Paradigm Challenged,† believes that it did; and argues quite convincingly that ordinary German citizens were duplicitous either by their actions or inactions due to the deep-seeded nature of anti-Semitic sentiment in the country. On the other hand, Christopher R. Browning, who has extensively researched the Holocaust, argues that the arguments of Goldhagen leaves out significantRead MoreIncident by Countee Cullen1369 Words   |  5 PagesThe poem, â€Å"Incident† is a part of Cullens book called Color, which clearly portrays the racism shown among the blacks, even among the children. The transition from innocence to experience may also be seen in the poem My Last Duchess b y Robert Browning. It starts off with the innocence of a young child most likely riding on a subway who makes eye contact with another young boy on the same car. Though neither is described to be older or smaller than the other boy. Cullen goes on to say that fromRead More Ordinary Men by Browning Essay1630 Words   |  7 PagesOrdinary Men by Browning The men of Reserve Police Battalion 101 were just ordinary men, from a variety of backgrounds, education, and age. It would appear that they were not selected by any force other than random chance. Their backgrounds and upbringing, however, did little to prepare these men for the horrors they were to witness and participate in. The group was made up of both citizens and career policemen. Major Wilhelm Trapp, a career policeman and World War I veteran headed the battalionRead MoreOrdinary Men2572 Words   |  11 PagesThe arguments that Christopher Browning emphasizes in Ordinary Men are based on his beliefs about the Holocaust. His argument touches base on the idea that regular citizens of Germany could commit such horrible acts without being coerced into doing so. He examines the side of the Reserve Police Battalion 101 and tries to figure out just why these gentlemen participated in the mass shootings and deportations of the Holocaust. In fact should these gentlemen even be called gentlemen enlight ofRead MoreEssay on The Four Periods of Literature1518 Words   |  7 Pagesperhaps some of the oldest communication methods used. There are four major literary time periods, the values of each of these, and their authors will be discussed. The first time period is authors who rejoiced in the basic joys of life. The next period saw authors realizing that life is short and must be enjoyed to the fullest. The third period influenced authors to begin taking new roads and creating literature that had never before existed. The fourth and final period in the discussion, men beganRead MoreCompare the way Goldhagen and Browning present the perpetrators of the Holocaust2061 Words   |  9 Pagesargument is the presentation of the perpetrators of the Holocaust as ordinary Germans who largely, willingly took part in the atrocities because of deeply held and violently strong anti-Semitic beliefs. This in many ways challenged earlier works like Christopher Browning’s â€Å"Ordinary Men: Reserve Police Battalion 101 and the Final Solution in Poland† which arguably gives a more complex explanation for the motives of the perpetrators placing the emphasis on circumstance and pressure to conform. These differingRead MoreHy3 Personal Sources Pack1122 Words   |  5 Pagescontamination w ill not subside, this poisoning of the nation will not end, until the carrier himself, the Jew, has been banished from our midst. (Applause) Document No. 10 http://www.awesomestories.com/history/holocaust-evidence/hitlers-predictions. Author: Carole D. Bos, J.D. On October 25, 1941, Erhard Wetzel wrote to Heinrich Lohse recommending that the head of the euthanasia program (for killing mentally and physically handicapped Germans) should build gassing devices to eliminate the Jews.

Teen Pregnancy and Ways to Prevent It Free Essays

Teen pregnancy is an important issue all over the country. This is an ongoing problem that must be dealt with. Teenage pregnancy can ruin a teen’s life and also the life of an infant. We will write a custom essay sample on Teen Pregnancy and Ways to Prevent It or any similar topic only for you Order Now In this paper I will discuss the many aspects of teenage pregnancy and how it affects the life of a teenager. Each year in the US almost 1 million teens become pregnant. While the facts are clear, the issues of teenage pregnancy are complicated. Talk of sex is everywhere in our society and young girls are portrayed as sex objects. Sex is used to sell everything from clothing to news and yet people are shocked at the rising number of teenagers who are sexually active. The concern about the welfare of infants and adolescents is so much that we must move beyond the denial and distinguish effective solutions that require us to come to a solution. Nowadays it is becoming more familiar to a teenager to be engaged in sexual activities. They have unprotected sex and have multiple partners. Today’s society is more open about the subject of sex than ever before. It is all over the television, the internet, and even on the radio and in music videos. It is all over the media and therefore teens believe it is ok to be promiscuous and do not think about the consequences they could face with an unexpected pregnancy and how much it will change their lives forever. Even though the best way to prevent a pregnancy is to be abstinent, there are many teens under a lot of pressure to have sex and engage in it quite frequently. Many seek the love and affection that they normally do not get at home and they usually find it in the form of sex with whomever they can get the attention from. They usually have a poor home life or low self esteem and may just be looking for love and acceptance in the form of sex to feel loved. Teenagers need encouragement to abstain from sex all together and they need to be given more information on the prevention of pregnancy if they are to become sexually active. Teens need to constantly hear strong messages about being responsible if they decide to engage in sexual activity. Parents should be the primary givers of these messages to guide them in the right direction. If teens are given positive life options then they are given hope for their futures as well as the motivation to avoid early pregnancies. Teen pregnancy has been an issue for many years. Even with all of the education on the subject it is still an issue that continues to be on the rise. There are lots of parents that don’t sit down and talk openly with their kids about sex and all of the consequences of their actions if faced with a pregnancy. Some teens don’t have the parental guidance they need to make the right choices, either because of single parent households that the parent works so much and does not have the time or can pay as much attention to them as the teen may like or parents that just plain don’t care what their kids are doing. Some of these kids go looking for love in all the wrong places and just want to fit in anywhere they can. They don’t think of the consequences if they are making bad choices. The best way to prevent teen pregnancies is to not only teach them about abstinence but also to inform them about the risks they could face if they chose to have unprotected sex or any kind of sex at all. They should be taught all of their options about being safe if they chose to make the decision to have sex. Some of these teachings should include what protected sex is and how it not only prevents them from an unwanted pregnancy but also from STD’s. Teen pregnancy rates in the United States have jumped for the first time in more than a decade and a campaign mandated by the government to reduce the issue is faltering (Stein, 2010). There are lots of political debates on teen pregnancy and the biggest debate is whether or not the federally funded programs on teaching teens abstinence are working or not and several experts blame the increase in teen pregnancies on sex education programs that focus on encouraging abstinence (Stein, 2010), instead of also teaching the use of contraceptives. Critics also argued that the disturbing data of the rise in teen pregnancies were just the latest in a long series of indications that the focus on abstinence programs was a dismal failure (Stein). Abstinence –only programs received more than $100 million in federal funding annually and $50 million in federal funding was given to states that utilized such programs (Medical News Today). James Wagoner, president of Advocates for Youth thinks that abstinence-only programs deny young people life-saving information about condoms and other forms of prevention. They should be taught all of their options about being safe from an unwanted pregnancy and STD’s, because by teaching abstinence only obviously is not working. Teens don’t realize that having a baby is a lot of responsibility financially as well as physically and mentally and they are not fully prepared to take on those responsibilities. So then it either falls in the hands of the teen’s parents or in the taxpayers in the form of welfare. Many teens that get pregnant not only suffer in school or drop out but they also could face other problems such as social or mental problems. Socially teen mothers have very limited social contact or friendships because their friends have moved on in school and with their social lives. The teen mother has little or no time for a social life because all of their time is focused on their child. Another problem they face is because of the lack of social interactions it could lead to depression or some sort of mental anxiety. Teens do have many options if they are faced with an unexpected pregnancy. Many unfortunately have abortions. There is also the option of giving the baby up for adoption; this would be the best option as it gives another family the chance at raising a child that they otherwise could not have of their own. That child may grow up very healthy and happy as opposed to growing up unwanted and possibly in poverty. According to The American College of Obstetricians and Gynecologists adolescent mothers are significantly less likely to receive a high school diploma than teens that wait to have sex. They are also more likely to live in poverty, receive public assistance, and have long periods of welfare dependency. (The American College of Obstetricians and Gynecologists). Teen Childbearing in the US costs federal, state, and local taxpayers at least $9. billion annually (Hoffman). Other issues of teen pregnancy is that it can be physically difficult for a teen girl to go through a pregnancy because she is still growing herself and her body may not be able to take the physical demand of being pregnant. They are less likely to seek medical attention such as prenatal care because many are afraid to tell their parents and it could prolong the much needed early prenatal care and if there are problems in the pregnancy, they could have been avoided with early care. Other problems could be that the teen may have been smoking or drinking or doing drugs at the time of conception and those things could be harmful to the baby. In turn if the baby is harmed there will more likely be added medical expenses before during and even after delivery. Some of the most obvious consequences of a teenage pregnancy is that the baby will not receive the adequate support it needs either financially or emotionally because the mother or father has not fully matured and usually has dropped out of school to take a meaningless job that pay minimum wage. Often times the baby will suffer from emotional problems ecause the parent or parents also have emotional problems from not being mature enough to raise a child. Some teenagers feel burdened by the child because they never had the chance to live out their teenage years and many times the child of these parents could feel this resentment. Another negative aspect could be that the children of teenage parents could suffer from neglect because the parent hasn’t matured enough to recognize the need for proper nutrition, or medical care or the child is usually left in the care of others while they go out, regardless of whether that person is trustworthy or not. Children of teenage mothers have significantly higher odds of placement in certain special education classes and significantly higher occurrence of milder education problems, but when maternal education, marital status, poverty level, and race are controlled, the detrimental effects disappear and even some protective effects are observed (Sams). In conclusion a teenager is not fully equipped to care for a child and there could be devastating consequences for that child to be raised by a teenager whether it is because of financial burdens or emotional problems. Teenagers need to be made aware of all of these consequences and what could happen to them if they make the wrong choice of having sex before they are ready. References http://www.articlealley.com/article_479589_17.html How to cite Teen Pregnancy and Ways to Prevent It, Essay examples

Project Management Areas Managing Business Projects

Question: Discuss about the Project Management Areas for Managing Business Projects. Answer: Part 1 Introduction In this report, the statement, With respect to managing projects, the Project Manager is constantly required to monitor progress, gather information and problem-solve to make decisions is being evaluated with respect to two key disciplines of project management including Human Resource Management and Risk Management. An argument would be made on whether the activities of project manager must be based on the creation of value for the project. Project Management Definition As per PMBOK guide, project management process is carried out in five process groups including initiation, planning, execution, monitoring and control, and closing(Duncan, 1996). Each of these process groups has defined core as well as facilitating processes as shown in the table below: Process Group Core Processes Facilitating Processes Initiation Initiation Planning Scope planning, scope defining, Activity definition, resource planning, activity sequencing, activity duration and cost estimation, schedule development, cost budgeting and plan development Quality plan, communication plan, risk management plan, human resource management plan, procurement plan, solicitation plan Executing Scope plan execution, scope verification Quality assurance, team development, information distribution, solicitation, source selection Monitoring and Control Change control, performance reporting Quality control, risk response control, scope control, schedule control, cost control(Boudreau, 1996) Project Closure Administrative closure, Contract closure Explanation Each of the key process groups of PMBOK guide has defined core as well as facilitating processes as shown in the table below: Process Group Core Processes Facilitating Processes Initiation Initiation Planning Scope planning, scope defining, Activity definition, resource planning, activity sequencing, activity duration and cost estimation, schedule development, cost budgeting and plan development Quality plan, communication plan, risk management plan, human resource management plan, procurement plan, solicitation plan Executing Scope plan execution, scope verification Quality assurance, team development, information distribution, solicitation, source selection Monitoring and Control Change control, performance reporting Quality control, risk response control, scope control, schedule control, cost control(NCKU, 2008) Project Closure Administrative closure, Contract closure Framework The project management framework defined in the PMBOK divides project activities into processes that are grouped into five categories based on the stage of the project including initiation, planning, execution, monitoring and control and project closure. All the processes involved in the project management are listed into 10 knowledge areas of project management including project integration, scope management, time management, quality management, HR management, communication management, risk management and procurement management. As this report would be created considering two of these knowledge areas, this section would cover framework details of only those two areas that include Human Resource Management and Risk Management(Atkinson, 1999). Human Resource Management: This area involves development of a human resource plan which is done in the planning stage and execution of the same by acquiring project team, developing the team, and managing the same(Belout Gauvreau, 2004). Risk management: This area involves development of a Risk Management plan which is done in the planning stage and execution of the same which involves identification of risks, qualitative risk analysis, quantitative risk analysis, and risk response planning. Risk monitoring and control activities are also carried out in this discipline in the fourth stage of project management(U.S. Department of the Interior , 2012). Part 2 In this part, a few cases of large projects are taken as a base for understanding the importance and value creation in terms of human resource management and risk management. Human Resource Management Human resource management is essential on a project as the project performance largely depends on the people working for it. Projects can survive only when they have clarity of vision, strong work culture, and skilled workforce. Thus, reaching project goals require focus on human factors(Boudreau, 1996). It is an important part of any project management and it involves determination of competency and skill requirements of projects, assessment of potential candidates based on the same, selection and recruitment of right resources and their management. For any organization to be able to do that, the first step is to hire an efficient project manager who would the take care of the plan for the acquisition and use of other resources(Mishra, 2007). Inefficient HRM in Sydney Opera House Sydney opera house was the first construction project that used Computer Aided Design. The project was in major limelight for its unique design but from project management point of view, it is largely considered as a failure due to two main reasons. First, the project exceeded its original budget by a large amount. While the initial budget allocated was only AUS $1 million, the actual project cost $102 million. The construction work was also much delayed as the final design of the project was completed 4 years after the construction had already started. In the Sydney Opera House Project, there was no project manager involved but the designer Utzon himself was expected to take coordinate all activities. However, Utzon did not have any practical experience of such large construction projects because of which designs and implementation methods kept on changing and many a times, already build structures were demolished and rebuilt. The original design of roof which had made Utzon won the competition was under major controversy as it was later found not feasible and thus, Utzon revised its design. If the project had an experienced project manager handling coordination and execution activities, Utzon did not have to divert from his design work(Sanchez, et al., 2015). Moreover, there was no human resource management plan made but management of the construction project team was left to Utzon who was a good at aesthetics of designs but was not an adept manager. He would not listen to the concerns and suggestions of engineers but was only concerned about the aesthetics of the roof. This resulted into conflicts and delays. Because of the delays, people started to leave the project which resulted into high turnover(Ballesty, 2005). Effective HRM in DLC In the infrastructure construction project of Dubai Logistics City (DLC), management knew well in advance that capacity would be a constraint for such a large project to handle as contractors, skilled engineers, logistics and project management professionals were not available sufficiently with the government. However, with proper human resource planning, the management of the project took a different approach to human resource and took some professionals from the private sector. While taking people from private sector, they also realized that they had to do some modifications in contract arrangements to attract them as well as keep the workforce satisfied and motivated. Thus, strategies were adopted to curb quality issues and overcome constraints of supply chain. Some of these strategies included advanced payment structure and the promise of largest price that were adopted over the traditional mode of payment after work and fixed contract pricing(Sen, et al., 2007). Risk Management The process of risk management begins at the time of project planning such that probable risks are identified and response plan is created to manage them at the time of occurrence. If risks are not evaluated in advance then it becomes difficult to respond to them fast when they actually occur. Moreover, certain risks are likely to affect project to a major extent. Such was the case with the opera house. The risk of using a design that was made out of lack of practical experiences of construction project could have risked instability and lack of construction feasibility which was not evaluated before the project was planned. This resulted into selection of a design that was good as per looks but was not feasible for construction. Lack of Risk Management in Opera House The Opera House project had many risks and uncertainties that affected its performance but the same were not forecasted at the time of planning. From the starting of the project itself when a design competition was conducted to call designs for the construction of opera house, no clear evaluation was done on the past experience of the designers with construction projects. Various risks and uncertainties that were not accounted for in planning but cause major impacts on the project included: Impractical design: The design made by Utzon, the chosen designer was not practical for construction because of which he had to make major changes in the design and the final design was only completed after 4 years of the start of the construction work. Conflict due to change in Stakeholder expectations: The expectation of Australian government from the project was not made clear at the start nor was any consideration made for risk of inability to meet the expectations. The original design was created considering two theatres but later government officials demanded 4 theatres. Cost Conflicts: Initially, the government gave a go ahead for no limits on funding but at the later stages of the project, when the expenses exceed beyond expectations, limits were put on funding which lead to frustration and discouragement in the project team. The initial estimates of project cost were highly superficial that did not work with the project activities and thus, there was a need of more funding. By the time, government realized this and increased the funding in 1966; Utzon had already left the project. Loss of Human Resource: Utzon left the project in the middle of construction because of discouragement from lack of funding. New designer was to be hired and as Utzon took away his ideas as well, a new design was to be developed by the new designer. This rework escalated the cost to a large extent and the project ended up spending AUS $102 million by the end of the project. Risk Management in Sydney Cross City Tunnel Project Sydney Cross City Tunnel Project was an outcome of a Public Private Partnership which needed division of responsibilities as well as risks between the two entities . However, all the risks were offloaded to the private player while government agency only provided initial funds required for project. Private organization was unable to manage the risks well. It faltered specifically in the management of financial risks(GAMUT, 2014). The project reflects the importance of not only recognizing the risks but also in recognizing appropriate people or entities who should take the responsibility of managing the risks. Moreover, the project lacked a systematic risk management methodology that could have been agreed upon mutually such risk response plans could have been identified and appropriate risk policies could have been set. It was only after all the funds were exhausted and the project was making losses that the lacuna was realized and the government came up with a new arrangement in which risks were properly planned and shared between the two entities(Chan, et al., 2008). Part 3 Human Resource Management Use of human resource management strategies and tools defined in the project management methodology can add value to the project in following ways: Responsibility assignment matrix ensures that every work package is properly assigned to qualified team member which avoids role related conflicts(NCKU, 2008). RACI matrix can be used to identify if a person is given responsibility but lack accountability which can cause conflicts of interest. If this was used in the Opera House project, a realization could have made that Utzon who was given responsibility of managing project was actually not accountable for it and thus, could decide to leave the project exercising his freedom. On the other side engineers were given responsibility to take care of technicalities of the project but were not given authority to take decisions such that only Utzon decided what was to be done which again resulted into people conflicts and loss of interest in engineers. Human resource plan also takes care of the competencies of people such that they are hired on the job only when they have the right skills for managing a part of the project. In case of the Opera house project, Utzon was expected to manage people which required project management skills that were not present in him. A human resource plan helps management clearly identify staff requirements, cost estimations for resources, when resources are needed, required skills, training requirements and equipments required by staff. This clear identification of resource requirements can help resolve resource conflicts as well as ensure that they posses right skills and competencies to be able to complete the project with proficiency(Mishra, 2007). Risk Management A risk management planning can add value to the project as it is a proactive process for managing risks such that risks that have not occurred but can be expected are analyzed in advance and a plan is developed for responding to them as they occur. Risk management process also help managers identify the likelihood of each risk and the impacts they can cause on the project such that appropriate control strategy or response strategy can be developed. For instance, if there are risks found that can create major impacts on the project performance but if identified earlier, they can actually be avoided from happening; an appropriate measure would be taken to already eliminate the risk even before the same occurs. For instance, in the case of opera house project, if a risk of presenting a design which was not practical was realized at the start of the project, a requirement of having an experience with large scale construction project could have been added in the competition which could have resulted into applications of only those designers who also know the practical challenges of construction such that the design presented was sustainable. In the same way, if the risk of Utzon leaving the project in between was identified earlier, company would have already taken the designs and other work done by Utzon in their custody such that even if he left the project, the same designs could have been used by the new designer and new design would not have to be created. This way, a huge loss to the organization could have been prevented that was causes because of redesigning and reconstruction of the project. Conclusions Recommendations This report was prepared to understand how project management practices can add value to projects. For this, a case of Sydney Opera house project was taken which was explored against the practiced of human resource management and risk management used. The base of Project Management Body of Knowledge was taken for analysing the case. The report presented the arguments on the statement, With respect to managing projects, the Project Manager is constantly required to monitor progress, gather information and problem-solve to make decisions The report identified ways human resource management and risk management added value to projects. Based on this study certain recommendations can be made: Human resource management should include clear identification of roles, responsibilities, skills, competencies, and training requirements. A person made responsible for an activity must also be given required authority to be able to take decisions A person made responsible for something must also have an accountability for the same to be able to expect sincerity from the person All possible risks on the project must be identified and those that can be avoided must be avoided. A contingency and risk response plan is required if the project has to run smooth and losses are to be avoided. References Changefirst Limited, 2009. Change and project management , s.l.: ChangeFirst. Atkinson, R., 1999. Project management: cost, time and quality, two best guesses and a phenomenon, its time to accept other success criteria. International Journal of Project Management, pp. 337-342. Ballesty, S., 2005. Sydney Opera ouse - FM Exemplar Project : Procurement Case Study and decision Making Strateges, s.l.: CRC Construction. Barkley, B. T., 2008. Project management in New Product Development, s.l.: Mc-Graw Hill Companies. Belassi, W. Tukel, O. I., 1996. A new framework for determining critical success/failure factors in projects. International Journal of Project Management , 14(3), pp. 141-151. Belout, A. Gauvreau, C., 2004. Factors influencing project success: the impact of human resource management. International Journal of Project Management, Volume 22, pp. 1-11. Boudreau, J. W., 1996. Human Resources and Organization Success, s.l.: Cornell University. Bright Hub Media, 2015. Constructing Powerful Scope Statements. [Online] Available at: https://www.brighthubpm.com/project-planning/57950-example-and-evaluation-of-project-scope-statements/ California CIO, 1997. Project Management Planning, s.l.: California CIO. Caltrans, 2007. Project Communication Handbook. s.l.:Caltrans. Chan, A., Lam, P., Chan, D. Cheung, E., 2008. Risk-Sharing Mechanism for PPP Projects the Case Study of the Sydney Cross City Tunnel. Surveying and Built Environment, 19(1), pp. 67-80. Duncan, W. R., 1996. A guide to the Project Managment Body of Knowledge, s.l.: PMI. GAMUT, 2014. Sydney Cross City Tunnel, s.l.: Omega Centre. GDE, n.d. Project Management Methodology Guidelines. [Online] Available at: https://www.chandleraz.gov/content/pm000pmmethodologygde.pdf [Accessed 21 October 2016]. Helm, J. C., 2000. Teaching Continuous Risk Management Using A Requirements Management Tool, Houston, TX: University of Houston-Clear Lake. Henshaw, J. Osborne, B., 2004. Managing CRM Risk, s.l.: eLoyalty Corporation. Lacaster University, 2006. Case Study of Successful Complex IT Projects, s.l.: THE BRITISH COMPUTER SOCIETY . Mishra, S., 2007. Human Resource Management in a Project. PM World Today, 9(7), pp. 1-18. NCKU, 2008. The Importance of Human Resource Management, s.l.: NCKU. Project Management Institute , 2000. A guide to the Project Management Book of Knowledge , s.l.: Project Management Institute . Sanchez, A. X., Hampson, K. D. Mohamed, S., 2015. Sydney Opera House Case Study Report, s.l.: NRC. Sen, S., Mir, A. H. Durani, A. Z., 2007. International Case studies - The UAE, CHina and Malaysia, s.l.: PIICA. SLAC, 2009. RESEARCH SUPPORT BUILDING AND INFRASTRUCTURE MODERNIZATION: RISK MANAGEMENT PLAN, s.l.: SLAC. Team FME, 2014. Human Resource Management: Project Skill, s.l.: FME. The Saylor Foundation , 2014. Project Management from Simple to Complex, s.l.: The Saylor Foundation . Time is Ltd, 2015. Evaluating a Project. [Online] Available at: https://www.time-is-ltd.co.uk/Management/Promise/PMManual/Evaluating%20a%20Project.htm U.S. Department of the Interior , 2012. Project Management Framework, s.l.: U.S. Department of the Interior .

Concept of Positive Accounting Theory Free-Samples for Students

Question: Discuss about the Concept of Positive Accounting Theory. Answer: Introduction This paper breaks down the change of positive accounting theory (PAT) and differentiations it and three standard records of science. There is some perplexity about what PAT is. In case the importance of accounting speculation (i.e., accounting theory tries to elucidate and anticipate accounting and examining practice) given in (Watts, 2016) is deciphered as significance PAT, examinations of accounting choices and assessing sharpens constitute PAT. Meanwhile, they similarly hope to illuminate the budgetary perspectives based test sending in accounting and they depict, despite accounting choice considers, capital market-based accounting research. They point out that (Ball, 2013) and Brown at initially advanced positive research in accounting, suggesting that PAT consolidates both capital market-based accounting examination and research in accounting choices. This paper takes PAT to join both research programs. This utilization is consistent with (Watts, 2016) verification that when the y use the expression "positive" to separate it from "prescriptive" theory. Perceive has been a champion among the most charming accounting research programs in the midst of the latest four decades. It has passed on a broad measure of right research on the relationship between accounting numbers and stock expenses and returns, and determinants of accounting choices by affiliation. Summary of the Article Positive accounting theory (PAT) is a declaration of neo-conventional money related speculation. Pressing to it, is a trust in sensible decision theory. That is, pertinent self-intrigue generally recommended by beginning conduct - is the begin of all budgetary movement. Thusly, for the decision of bookkeeping techniques for understanding and frameworks and approach PTA self-intrigue is starting reasons. In PAT the firm is portrayed moreover as a party of various exercises a nexus of understandings. Contracts are crucial auditing an entire concentration to make them channel for people to consent to take an intrigue. Regardless, there will contract costs related with the distinctive exercises, for example, expenses of overseeing alongside observing the game-plan of the social events included and PAT holds those affiliations which should control the expenses of contracting and this will impact the strategies comprehended, including the bookkeeping structures. (Sathouse, 2016) Moreover, PAT addresses an imperative move in bookkeeping research point of view. One essential association with which Watts have tended to legitimize and push PAT is the adjust of their perspective of hypothesis and that in science. They have implied different reasonability of science creators to express that their perspective of hypothesis is the same as that in science and to legitimize their method; and to crush, to a particular degree, regularizing theory. In this way, given PAT has been essential to bookkeeping analysts for around four decades, it is fundamental to examine how far PAT has been practical in mirroring normal sciences and what the points of confinement have been. It is also essential to return to the methodological spots of PAT. It is dazzling to perceive how the movement instance of PAT separations and records of science to which Watts what's more, Zimmerman tended to legitimize and push their hypothesis. This is by prudence of such a relationship will improve ou r comprehension of how PAT advanced and what methodological holes remain. (Smith, 2013) Research Question An imperative question that PAT researchers are planning to answers to was the reason the directors coordinate the accounting conclusions as they grasp the. Due to the worldwide nature, the understanding should be conveyed in regards to executives' certain mental strategies. Clarification should be imparted in light of the feelings and reasons evaluated in the brains of the boss at the period of settling on accounting choices. The authenticity of clarification does not depend on upon the demand of certain accounting conduct in similar conditions by the executive or others (Carey, 2013). The reason is that man does not by and large give a comparable direct in relative conditions. Two people can bear on contrastingly in similar conditions and present equivalent direct in different conditions The issue with the above position of PAT on speculation choice is that probably no theory with more unmistakable useful power ascends all of a sudden. The consistent power that PAT now has is the delayed consequence of four numerous times of research attempts. Thusly, if the relative legitimate vitality of battling theories is to be settled on the arbitrator on a fundamental level choice, that must be associated not at the basic stages but instead at some later stages. (Broadbent, 2013) Thusly, three appropriate methodological request are (a) how to pick rationally whether to offer chance to another speculation or allow it to blur away in its initial stages, (b) at what period of theory headway the relative legitimate power establishment is to be associated, and (c) how to pick between two theories when the new speculation clears up a couple parts of the old speculation and some new wonders not illuminated by the old one. Theoretical Framework Positive Accounting Theory has been the essential research perspective of the 1980's and 1990's however resulting to investigating PAT this influences the opportunity to be something of a curious consider. This leads us to study specific enlightenments behind PATs omnipresence. The positive/observational perspective observed the chance to be particularly standard around an equivalent time that new age preservationist governments were picked in the USA and the UK. An affiliation can in this manner be made between the climbing of governments controlled by theories based around deregulation and 'little government' and an accounting speculation that battles an equivalent point. It is in like way possible that schools in the USA that favored perspective from corporate financing were driving accounting research as a mechanical social gathering to move the deregulation address that structures the foundation of Positive Accounting Theory. This translates the evident achievement of PAT in the 'ask about progress' has little to do with the central focuses or importance of PAT, and out and out additional to do with its ideological question that shield the drive of the overall public who in a matt er of seconds hold capital. The overall public who stay to get the prizes of a deregulated government have as necessities be "got" the accounting research progress to applaud and legitimize their position. (Minnis, 2017) The shrewd perspective holds the conclusions that chief, who are experts to the focal, show to their own advantages. Also, they simply get accounting approaches that allow them to get, in the view that the firm in like way gets. Unmistakable sorts of hypothesis exist, for instance, political cost, reimburse plan and obligation theory that show what points of view make the heads pick one accounting framework over another. Association pay hypothesis The association pay speculation conveys that supervisor who have accounting driving qualities, or installment of them is append with the association's accounting execution which will move to control the arrangement of bookkeeping and figures to show the accounting execution and it must be acceptable than anything. For example, boss utilizing varying corruption strategy permitting lower benefits toward the begin and higher focal points towards the end. More arranged administrators will tend to slight any imaginative work costs since it will chop down compel year benefits affecting their pay. Taken a toll hypothesis of Politics The political cost hypothesis expect that affiliations will tend to demonstrate their positive conditions bring around using changing accounting philosophies and frameworks so that the firm does not pull in the likelihood of government specialists, who will have an eye on high favored stance affiliations. Allowing lower benefits masterminds away any thought by individuals generally speaking and the eyes of the affiliation who will put higher control on high getting firms. Obligation respect hypothesis The devotion/respect theory passes on that authorities will tend to show better inclinations (like the reward create/affiliation compensation speculation) with the reason for having a predominant execution and liquidity position than pay the interest and critical of the commitment they have gathered in the business. The higher the devotion/respect level the more likely it is that the boss will have a tendency to use accounting methods and frameworks in enhancing accounting advantage. For example, the written work has demonstrated the sensible estimation of favorable circumstances is the same as related a motivating force in some standard definition. Of course, such accounting sources have battled that the sensible regard is a poor measure especially when they can be easily controlled by endorsed models as fundamental as the assessments of sensible regard. (Brggemann, 2013) Acclaim composing exhibits that the boss manages the reported wage to manage their reward goals. Later ponders have exhibited that the organization controlled the assessments of the sensible regard. For example, organized affirmation of the sweeping usage of sensible motivator, furthermore, fought that the sensible regard is mistreated by the organization and this brought on its annihilation. Vitality and Limitations Vitality It doesn't give anything reparable, it doesn't express that what should happen, rather lights up and predicts what may happen, which is the reason for positive bookkeeping theory and this is inadequate It is not free since it just explains and predicts what individuals may do, expelling absolutely on what they ought to do. It recognize that each boss' (genius) and proprietor's (major) practices have a self-intrigue perspective, with the essential focus of developing their own particular riches without considering any unpropitious impacts. (Setyorini, 2012) Repressions Right when Positive Accounting Theory was at first made in the 1970's it relied on upon three theories, the commitment hypothesis, the reward deal with hypothesis and the political cost hypothesis. Since this period however there have been no increases to these three, nor has there been any advance or development of them. Nevertheless, much research has been played out all through the 1980-90's PAT has remained torpid in its development and this has possibly instigated to the present abatement in imperativeness for PAT. It has battled that PAT doesn't have any potential for future advance and that it will continue uncertainly in its present edge with no new considerations. This nonattendance of advance and PATs late lessening in research are firm conflicts that PAT will be respected a blunder in the light of learning of the past. (Grabe, 2014) The essential defect that can be found with a start of PAT is that of fiscal matters and its dependence on the hypothetical immaculate market. A faultless market depends on after (despite various things) idealize data and no exchange costs. This perspective discovers issues since "bookkeeping exists in context of exchange expenses". It is in like way hard to envision concordance for data when bookkeeping data adds to this conform. Watts and Zimmerman in addition say that bearing and political expenses encroach with the operation of faultless markets. In saying this they are adequately yielding that impeccable markets don't exist as they require the takeoff obviously to help with the more competent task of advantages (Li, 2015) Conclusions PAT is in a general sense a hazardous condition of various theories that has been used as vehicle to push the free market conviction structure that has summoned the political and research program. Starting late PAT has been running out centrality to the degree time span and this is possibly demonstrating that PAT was a general shape that has had its time and has now been racked for more sensible and steady examination openings. (Abbadi, 2016) Where there are weights to report cut down advantages, determination of the revaluation show gives degree of higher downgrading blames for augmentations in the estimation of non-current assets not impacting the compensation declaration. With lower point by point advantage and a higher asset/esteem base, any judgment made by investigating extent, for instance, rate of benefit for assets or esteem will achieve the component being found in a less perfect light. (Freeman, 2014) In this way, Positive Accounting Theory tries to make astonishing desires of real events and make an understanding of them to accounting trades and predict (Dosi, 2016) Activities, for example, which bookkeeping approaches firms will pick How firms will respond to starting late proposed bookkeeping models Under PAT, firms need to extend their prospects for survival, so they manage themselves enough. Firms are seen as the aggregate of the affirmations they have gone into. (Christensen, 2016) Along the associations with PAT, in light of the way that there is an ought to be reasonable, the firm should confine costs related with contracts. Cases of statement, costs are exchange, renegotiation, and watching costs. Contract costs meld accounting parts as contracts can be stipulated the degree that accounting information, for instance, net pay, and budgetary degrees. The firm will pick the accounting systems that best observe the basic for minimization of understanding costs. PAT sees that changing conditions oblige chief to have flexibility in picking accounting organizes. This presents the issue of "sharp prompt". This happens when the exercises of affiliation are to better their own emerge reasons for interest. (Miller, 2013) References Abbadi, S. S., Hijazi, Q. F., Al-Rahahleh, A. S. (2016). Corporate governance quality and earnings management: Evidence from Jordan.Australasian Accounting Business Finance Journal,10(2), 54. Ball, R., Kothari, S. P., Nikolaev, V. V. (2013). Econometrics of the Basu asymmetric timeliness coefficient and accounting conservatism.Journal of Accounting Research,51(5), 1071-1097. Broadbent, J., Laughlin, R. (2013).Accounting control and controlling accounting: Interdisciplinary and critical perspectives. Emerald Group Publishing. Brggemann, U., Hitz, J.M. and Sellhorn, T., 2013. Intended and unintended consequences of mandatory IFRS adoption: A review of extant evidence and suggestions for future research.European Accounting Review,22(1), pp.1-37. Carey, P., Knechel, W.R. and Tanewski, G., 2013. Costs and Benefits of Mandatory Auditing of For?profit Private and Not?for?profit Companies in Australia.Australian Accounting Review,23(1), pp.43-53. Christensen, H.B., Nikolaev, V.V. and Wittenberg?Moerman, R., 2016. Accounting information in financial contracting: The incomplete contract theory perspective.Journal of Accounting Research,54(2), pp.397-435. Dosi, G., Grazzi, M., Marengo, L. and Settepanella, S., 2016. Production theory: accounting for firm heterogeneity and technical change.The Journal of Industrial Economics,64(4), pp.875-907. Freeman III, A. M., Herriges, J. A., Kling, C. L. (2014).The measurement of environmental and resource values: theory and methods. Routledge. Grabe, W., Kaplan, R. B. (2014).Theory and practice of writing: An applied linguistic perspective. Routledge. Li, X. (2015). Accounting conservatism and the cost of capital: An international analysis.Journal of Business Finance Accounting,42(5-6), 555-582. Miller, P., Power, M. (2013). Accounting, organizing, and economizing: Connecting accounting research and organization theory.Academy of Management Annals,7(1), 557-605. Minnis, M., Sutherland, A. (2017). Financial statements as monitoring mechanisms: Evidence from small commercial loans.Journal of Accounting Research,55(1), 197-233. Salthouse, T.A., 2016.Theoretical perspectives on cognitive aging. Psychology Press. Smith, M., 2014.Research methods in accounting. Sage. Setyorini, C.T. and Ishak, Z., 2012. Corporate social and environmental disclosure: A positive accounting theory view point.International Journal of Business and Social Science,3(9). Watts, R.L. and Zuo, L., 2016. Understanding practice and institutions: A historical perspective.Accounting Horizons,30(3), pp.409-423.