Film Theory Vs. Realism - 1509 Words

In the initial days of cinema, film theories tended to divide into two opposing views, Formalism and Realism. Formalists believed the formal properties of cinema shaped the way films were made, as well as our responses to them. For formalists, the challenge was to establish film as an independent art form. They found their answer in film’s formal properties, which enable the filmmaker to alter reality and create new worlds within the screen. Formalist filmmaking reached its peak in 1920s with Sergei Eisenstein editing technique, and using intellectual montage with startling effect. In contrast, Realist believed the importance of capturing and recording reality. This is where they considered the essence of filmmaking lies. Formalists on the other hand can argue if that were pure cinema then â€Å"no more actors, no more story, no more sets, which is to say that in the perfect aesthetic illusion of reality there is no more cinema† (Bazin, Andre). I disagree, capturing r eality can still be an art style and Realism proves that and it’s especially highlighted in the period known as Italian Neorealism. Italian Neorealism was a hugely influential film movement. It sprung from the aftermath of WWII and ended around 1951. Notably emerging from the magazine Cinema, from a particular group of critics who were prevented from writing about politics. They switch to cinema to rebel against the Italian film industry under Mussolini influences. One of the primary goals of Italian NeorealismShow MoreRelatedMagical Realism As A Literary Genre932 Words   |  4 PagesMagical Realism is a literary genre that integrates fantastic or mythological elements into otherwise realistic fiction. It is described by the basic, direct presentation of strange, magical events. Magical realism is basically characterized by the utilization of fantasy that vast majority believe in. Examples of such things include ghosts, psychics, and the theme of fate and destiny. It permit s the novelist to venture into the fantasy realm without totally losing the feeling of reality. MagicalRead MoreThe Concept Of Readymade Art Emerged At The Forefront Of The 20th Century1034 Words   |  5 Pageslines between art and non-art. Absurdity had been introduced, and standards plummeted, in limbo for eternity. Art became void of all rules and obligations, the very distinctions they require. With no structure the art world is obsolete. Through theories of realism, I believe that ready-mades should not be given the title of art because they seek to glorify objects that do not elevate human understanding of the world, and that do not possess objective qualities of beauty. Marcel Duchamp can be seen asRead MoreMovie School Vs No Film School Essay1064 Words   |  5 PagesFilm School Vs No Film School So, you want to be a filmmaker. 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The three theories that are prominentRead MoreFreedom of Expression is Ensured in India1473 Words   |  6 Pagesguidelines to be followed during certification of films. It comes under the National Film Development Corporation (NFDC) which in tur n comes under the jurisdiction of the Ministry of Information and Broadcasting. The censor board has to depend on the police to enforce its rulings. A film certification appellate tribunal is also in place to hear appeals against a ruling of the Censor Board. The NFDC is composed of the Directorate of Film festivals and the Film finance corporation. Former Chief Justice MRead MoreAnalysis Of The Book The Wild West : The Mythical Cowboy And Social Theory ``1707 Words   |  7 Pagesaspects in the films, such as the setting and relationships between the characters. These aspects are how the setting is created, the shaping of the plot, and how the movie molds the human experiences and social relationships. Many historians like Richard Slotkin believe that all these aspects are what make up old western movies. These aspects will be supported with information from Slotkin’s book â€Å"Gunfighter Nation†, Will Wright’s book â€Å"The Wild West: The Mythical Cowboy and Social Theory†, John White’sRead MoreEssay on Like water for chocolate6961 Words   |  28 PagesLike Water for Chocolate ~Laura Esquivel~ Ms. Diamond Name_________________________________ Magical Realism At about the middle of the 19th century (when scientific objectivity became â€Å"vogue†), the influence of many social forces caused aesthetic taste to change from romantic idealism to realism. Many writers felt that romantics—with their focus on the spiritual, the abstract, and the ideal—were being dishonest about life as it really was. The realists felt they had an ethical responsibilityRead MoreMedia3066 Words   |  13 PagesFilm Theory and Approaches to Criticism, or, What did that movie mean? by Christopher P. Jacobs Movies are entertainment. Movies are documents of their time and place. Movies are artistic forms of self-expression. Movies we see at theatres, on television, or home video are typically narrative films. They tell stories about characters going through experiences. But what are they really about? What is the content of a film? DIGGING DEEPER: FOUR LEVELS OF MEANING Recounting the plot of a movieRead MoreIndependent Film Industries Reinforce The Global Construction Of The Hybrid Genre3665 Words   |  15 PagesIndependent Film Industries Reinforce The Global Construction Of The Hybrid Genre Almost every country has its own film industry. Films are being produced across the world, from the low budget gangster films of Britains Lock Stock and Two Smoking Barrels and Australias Chopper to the French art cinema of Laventura and the German action offering of Run Lola Run. This is of course to exclude America. Hollywood is the center of the global film industry and it Read MoreMedia Perceptions1915 Words   |  8 Pagesopinions on social media. As the majority of media articles are portraying the religion in a negative way. FILM – Critique Kaleem Aftab, explains his views on the latest Riz Ahmed film, ‘City of Tiny Lights’. saying that the film ‘cannot disguise the need for radical structural change’. He believes that independent film makers are finding it hard to tear away from the ‘box offices successes’, Film makers aren’t challenging these stereotypes in fear that their viewing figures will drop or that they will

Innocent Victims of Capital Punishment are Possible Essay

Innocent Victims of Capital Punishment are Possible Try to imagine yourself being convicted of a crime you did not commit, and even worse being told you have die for that crime. This nightmare is actually a reality for some inmates on death row today. The death penalty should be abolished because the potential for even one death of an innocent man violates all principles of justice. Can the justice system ever be 100 percent right? Not likely. Then how can it administer punishment thats 100 percent irreversible (Lock Up 2)? On October 23, 1989, the phone rang at Officer Gary McLaughlins desk. He picked it up immediately answering, ‘State Police, Boston,’ from the other end of†¦show more content†¦An innocent man was convicted of a crime he did not commit. Several reasons exist. First: Bennett had a previous arrest record and he seemed to fit the description of the killer. Second: the police were under pres sure to solve the crime. And finally above all, because the public was clamoring for some way to express its indignation (for the death of Mrs. Stuart), found Willie Bennett a plausible target(Baird and Rosenbaum 97). Cases just like this one lead to innocent men found guilty with the potential of being put on death row. Today, there are over three thousand prisoners on death row. â€Å"Between 1972 and 1996, 68 death row inmates were released because proof of their innocence was found† (Acker, Bohm, and Lanier 232). Only after struggling with expensive lawyers and a harsh system of justice were Cusson 3 the majority of these prisoners finally able to receive a second chance. It is preposterous to think that of the three thousand prisoners on death row, all of them are guilty and deserve the death penalty. The death penalty is unfair for several reasons, one of them being that legal assistance for inmates on death row has become increasingly difficult to find. Prisoners on death row filing for appeal have little or no chance for receiving a fair second chance. Most of the legal work is done for free, and even lawyers dedicated to making sure these prisoners receive all their legal rights cannot be expected to spend all of their timeShow MoreRelatedCapital Punishment Should Be Abolished1137 Words   |  5 PagesThe case for capital punishment Topic: why capital punishment should continue General purpose: To argue Specific purpose: my main aim is to convince the audience that capital punishment should be upheld. In other, the advantages of capital punishment outweigh its disadvantages. Introduction Capital punishment is also known as death penalty and it has been in existence since time immemorial. Throughout history, the death penalty has been used to punish a number of crimes that include murderRead MoreCapital Punishment Should Be Mandatory943 Words   |  4 Pagesrights when they kill other people, so capital punishment is a fair punishment for those people who definitely deserve it. In fact, capital punishment is one of the most arguable issues in our societies. However, it is a legally process of executing a person convicted of a capital crime. Capital punishment can be institutionalized by the state and implemented by final judgment of a court. It’s very important to fight premeditated murder. In addition, capital punishment should be mandatory for people whoRead MoreCapital Punishment Is Not A Better Than Life Imprisonment1400 Words   |  6 PagesCapital punishment is the legally authorized killing of someone as punishment for a crime. Although capital punish ment is wrong and is the killing of a human being, capital punishment is legal in thirty-two of the fifty states in the United States, meaning that the other eighteen states outlaw it as a punishment for crime. States that capital punishment is legal in all have different guidelines for what is punishable by death, but mostly murder or other capital offenses are what is punished. CapitalRead MoreThe Issue Of Capital Punishment Essay1411 Words   |  6 PagesIssues with Capital Punishment Capital punishment, also known as death penalty is a legal procedure in which a state executes a person for crimes he/she has committed. This punishment has been implemented by many states and used for barbaric crimes, especially murder. It is also used on crimes against the state such as treason, crimes against humanity and violent crimes. There are mixed reactions on capital punishment depending on one’s faith. In my view, I am not in favor of capital punishment as I stronglyRead MoreCapital Punishment : The Death Penalty975 Words   |  4 PagesACCEPTABILITY OF CAPITAL PUNISHMENT INTRODUCTION Capital punishment also known as the death penalty refers to the lawful infliction of death as a punishment. The first case of death penalty laws was first established in the Eighteenth Century B.C. Capital punishment is still used in the United States despite the controversy surrounding the law. Death penalty is done by either fastening the criminal to an electric chair, hanging or a firing squad shooting at the criminal. In Atkins v. Virginia theRead MoreThe Deterrence Theory Vs. Deterrence853 Words   |  4 Pagesrewards and punishments that would result from such actions. Which has led many theorists to believe that the proper to punish, a defiant act is by severe, certain, and swift punishment was the key to deterrence. The deterrence theory relies on three individual components: severity, certainty, and celerity. It is thought severe penalties, will desist from criminal acts, which thus prevent crime. However, if the sentence believed to be too harsh would be considered unjust. While, punishments not severeRead MoreCapital Punishment And Its Origin1485 Words   |  6 Pages Understanding Capital Punishment Quamere Rooks Saint Leo University Abstract Capital punishment, or the death penalty, has existed in many societies for as long as one can remember. This form of discipline is enforced on those individuals who display the most unfathomable criminal behavior against other fellow beings. In recent years, there has been great controversy over the necessity of methods such as this, and whether this form of inhumane discipline is justified. Some wouldRead MoreCapital Punishment : An Unnecessary Practice1630 Words   |  7 PagesCapital Punishment: an Unnecessary Practice I. Introduction The debate of whether the capital punishment is morally and politically appropriate has historical origins. The practice of capital punishment in America started when British settlers discovered the new world and created the first American colonies. Despite of the practice of the death penalty being ancient, capitals crimes have changed over time. Throughout the eras, the abolitionist movement against the capital punishment has been presentRead MoreThe Controversy Of Capital Punishment1374 Words   |  6 PagesControversy of Capital Punishment Capital punishment, or the death penalty, is a form of punishment that has been used as far back as the Colonial Era in America. Although it has been around for the entirety of American history, most of the scrutiny and controversy involving capital punishment arose in the 1972 Supreme Court Case of Furman v. Georgia, in which it was abolished, but quickly returned in 1977. It is evident that many citizens have ambivalent stances on capital punishment; some believingRead MoreThe Flawed Nature Of Our Justice System Essay1367 Words   |  6 Pagesviolent world they are shown every day in the news. Understandably they hear and see these violent crimes and think that extreme punishments must be given for extreme crimes. Despite this, 37% of Americans oppose the death penalty (Gallop). These people often argue that not only does capital punishment fail to solve the growing crime problem in the U.S., but that innocent people can be executed in the pursuit of justice. This is certainly tru e; not even supporters of the death penalty would deny that

Accounting Policies Adopted By Woolworths-Free-Samples for Students

Question: Discuss about the Accounting Policies and Procedures adopted by Woolworths Limited. Answer: Introduction The financial reports are developed by business entities by taking into consideration the significant accounting policies and procedures. The accounting policies can be described as the particular rules and procedures implemented by business entities in development of its general purpose financial statements (Horngren et al., 2012). In this context, this report presents an evaluation of the accounting policies and estimates used by an ASX listed company, that is, Woolworths Limited, an Australian retail giant. The report analyses the major accounting policies of the company used in developing financial statements. In addition to this, the comparison of the accounting policies of the company is undertaken with one of its major competitors for identifying the accounting strategy used by Woolworths for achieving competitiveness. Also, the issues of concern in the financial reports of the company are also discussed as red flags in the report. At last, the compliance of the annual disclos ures of the company as per the conceptual accounting framework is evaluated in the report. Section 1: Identify Key Accounting Policies The Woolworths Limited develops and published its consolidated financial reports on the basis of principle of consolidation. As per the principle of consolation, a business entity needs to develop consolidated statements by integrating the financial information of all its associated groups of subsidiaries to represent a single economic entity. The consolidated financial statements are developed by the company in accordance with the Corporations Act 2001, AASB and IFRS standards. The financial facts and figures are presented in Australian dollars as per the ASIC Class Order 98/100. The company has adopted the use of historical cost principle for measurement of its financial instruments except sale derivatives financial assets and some liabilities that are measured at fair value (Woolworths: Annual Report, 2016). The company has applied the relevant AASB standards for disclosing the information related to its cash flows, operating leases and segment disclosures (Hoffman, 2016). The company has implemented the required accounting policies in relation to valuation of inventories, financing costs, trade receivables, derivatives, property, plant and equipment and other financial instruments. In addition to this, the company has also implements significant accounting policies for risk management in order to mitigate the risks arising from its daily operational activities. The major risks identified by the treasury function of the company are market risk, liquidity and credit risk. The Board of Directors has developed written policies in relation to management of the significant risks through the use of derivatives for hedging the risk. The treasury function holds the responsibility of reporting the compliance with the risk policies of the overall Group to the board of directors on an annual basis(Woolworths: Annual Report, 2016). Section 2: Assess Accounting Flexibility The accounting managers are provided with some flexibility in selecting the accounting policies by the Board of Directors as per the corporate goals and objectives. The fact is supported from the findings of positive theory of accounting (PAT). The PAT theory have argued that accounting managers should select the accounting policies that helps them to maximize the value of the firm and thus providing larger returns to the shareholders. Thus, as per the theory the standard-accounting setting board has provided some discretion to the management to exercise some flexibility in the accounting policies. The accounting managers make certain assumptions and estimates in the accounting policies for financial reporting (Wolk, Dodd and Rozycki, 2012). The annual report of Woolworths Limited has also provided a description of the accounting estimates of management during development of its financial statements (Woolworths: Annual Report, 2016). However, the company has maintained that the estim ates, judgments and assumptions are made as per the historical cost basis that is adjusted as per the current market conditions. Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf The accounting estimates and judgments that have a significant risk of causing material adjustments are discussed in detail in the notes to financial statements section of the annual report. The major accounting assumptions are undertaken by the company in estimating the useful life if its fixed assets, impairment value of non-financial assets, put options valuation in non-controlling interests, provisions and discontinued operations. The accounting managers are provided the flexibility in selecting the policies and estimates by the management for reporting of financial performance of the company. However, the Board of Directors ensures that flexibility provided to the management in selecting the accounting policies and estimates do not distort the financial performance in any way. The Board of Directors has adopted the corporate governance framework for providing standard guidelines to the managers and employees. The corporate governance principles provide the ethical policies that the mangers and employees should obey while carrying out their job roles and responsibilities (Woolworths: Annual Report, 2016). The Board in its corporate governance framework has also provided the consequences of non-complying with the ethical policies and procedures for the managers while performing their job roles and responsibilities (Hussey and Ong, 2017). Section 3: Evaluate Accounting Strategy The accounting strategy developed by a business entity depends on the specific accounting policies and procedures selected for developing its financial performance. The accounting strategy depends on the norms of accounting policies selected for competing with industry peers, incentives policy, changes in policies and estimates for achieving the corporate aims and objectives. The Woolworths operates in highly competitive retail market of Australia and thus has many competitors including Wesfarmers Limited, Billabong, Coles and many others (Woolworths: Annual Report, 2016). The major competitor of the company is Wesfarmers Limited that is also recognized a supermarket giant in Australian retail sector. The Wesfarmers is presenting a major challenge in front of Woolworths as it has recently reported an increase in its sales revenue by about $13.1 billion from its retail outlets (Pierce, 2015). The Coles, a Wesfarmers company, has also reported an increase of sales to about 4.5 per cent as compared to Woolworths that have reported only rise in its sales of about 0.7 per cent. Thus, Woolworths current faces a large challenge from its competitors and thus need to implement proper strategies that help it to attain competitive advantage. The Board of directors of the company is planning to implement a lean retail model in the company for reducing its operating expenses to about $500 million in the coming two years. The Wesfarmers have also attained a competitive advantage over Woolworths as it develops its financial reports in a simple format as compared to Woolworths. This helps Wesfarmers to achieve the trust and confidence of investors and creditors more in comparison to Woolworths (Wesfarmers: Annual Report, 2016). Therefore, it can be said that Woolworths need to develop strategic goals and objectives that helps it in attaining a competitive advantage (Wesfarmers full-year profit drops 83.3 per cent on $2 billion writedown, 2017). However, the Woolworths Limited has adopted a proper reward management structure to drive its long-term growth by providing proper motivation to its key management personnel (KMP). The reward management structure comprises of short and long-tem incentive plans provided to its managers fro achieving the companys strategic objectives and goals. The incentive plans of the company are based on share-based payments and are approved from its shareholders in order to promote transparency in the business operations (Sheridan, 2016). There is flexibility provided by AASB to the business entities in developing their incentive plans as per the nature of their business operations and goals. However, the AASB has mandated that such flexibility provided to the companys management should not lead to any manipulation of its financial performance by managers for their personal benefits. The performance targets are linked with the net profit after tax (NPAT) and the EBIT (Earnings before Interest and Tax) (Woolworths: Annual Report, 2016). However, the Board of Directors of the company have maintained that linking of incentives with the profitability does not lead to occurrence of many fraudulent activities such as manipulating finance data for achieving higher benefits by the managers (Bamberg and Spremann, 2012). The incentive plans of the company can be depicted as follows: Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf The company have also adopted the specific change in the accounting policies and adopted some estimates during development of its financial reports. The comparative amounts impacted by the change in the accounting policies are adjusted by the company for each of the prior period. The changes are done in order to improve the relevance and reliability of finance information for example the company has adopted the use of fair value in measuring some of its specific assets and liabilities as compared to its previous use of historic cost principle. The changes in the accounting policies are made by the management in order to comply with the current AASB and IFRS standards. The company has also made some estimates in relation to assessing the carrying and recoverable amount of assets. However, the changes in the policies are estimates are carried out by the company for carrying out some specific accounting transactions as per its long-term strategic goals and objectives (Woolworths: Annual Report, 2016). Section 4: Evaluate the Quality of Disclosure The company has provided significant details of the specific accounting policies for identification and measuring of its various financial elements. The notes to financial statements section of the company have disclosed all the accounting procedures adopted for developing its consolidated financial reports. The statements representing the accounting transactions in the financial report of the company have also included footnotes for providing the relevant accounting policies adopted for their development (Woolworths: Annual Report, 2016). Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf The notes to financial statements section of the annual report of the company are sufficient for providing an insight into the key performance of the company. The notes are also consistent with the current performance of the company and the notes have provided each of the details that have been used in development of the financial reports. The accounting quality of the disclosures of the company can also be analyzed with the application of GAAP (Generally Accepted Accounting Principles) standards. The GAAP are the accounting rules and standards that are used by business entities across the world for financial reporting. The principles are developed by the FASB for promoting consistency between the financial reporting of different firms. The development of uniform accounting standards will help the firms to reduce the chances of occurrence of fraudulent accounting activities. The basic accounting principles as per GAAP are cost principle, matching principle and full disclosure. As ana lyzed from Woolworths Limited, the company has adopted the GAAP principles and standards during measurement of its major success factors. The company has adopted the use of historic cost principle for the recognition and measurement of its different financial elements (Woolworths: Annual Report, 2016). This is done as per the GAAP principles as Australian entities incorporate the use of historic cost principle for valuing its different financial instruments. Thus, it can be stated that the adoption of GAAP principles by Woolworths have enhanced its disclosures in relation to its key success factors (Bragg, 2010). The company has also provided relevant information in relation to its operating segments in its notes to financial statements section. The major reportable segments as analyzed from the financial reports of the company are as follows: Australian Food and Petrol New Zealand Supermarkets Endeavour Drinks Group BIGW Hotels The reportable segments of Woolworths have been identified as per its internal reports and these are continuously monitored by the Chief Executive Officer. The review is carried for allocating the required resources to each of the reporting segment. The different business units of the company provide different products and services and also are managed distinct from each other. The financial performance of each of the reporting segments is done on the basis of comparing their respective EBIT (Earnings before interest and tax). This is done in accordance with the AASB standards and section 334 of the Corporations Law that directs all business entities of Australia to report the financial performances of their individual reporting segments. As such, it can be said that Woolworths Limited is complying effectively with AASB and Corporations Law principles in developing its financial reports (Woolworths: Annual Report, 2016). The quality of disclosure provided by the company is also adequ ate as the financial reports are prepared on the basis of application of standard accounting principles and regulations (Walton, 2011). The segment disclosure in the financial reports of the company can be illustrated as: Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf Section 5: Identify Potential Red Flags The potential red flags are referred to as the areas of concern for the management that requires more disclosures in the future financial reports of the company (Gray and Manson, 2007). The company in order to improve its profitability position as compared to the competitors has discontinued its operations in the home improvement market. The company has assessed the value of its property assets on the basis of disposal strategy and investment yields. The values of the assets are determined on the basis of estimation of the management regarding the net sales to be achieved from discontinuing the operations of home improvement. The company has included the impairment loss of the assets in the loss from discontinued operations and the carrying amounts of fixed assets are transferred to Assets held for sale. As such, these refer to unexplained changes in accounting in the annual disclosure of the company that requires more disclosure by the management in the future financial reports (Woo lworths: Annual Report, 2016). The company has also reported a decrease in its inventory value and sales revenue in comparison to its past financial year of 2015. The inventory had significantly decreased from $ 4,872.2m to $4,585.5m and the sales figures have reported a decline of $58,812m to $58,085.7 m in the financial year 2016. The company has also reported a loss of about $2,347.9m in the financial year 2016. The company financial performance is declining and thus it needs to significantly provide the reasons for same in its financial reports and the strategies it is planning to implement for improving the profitability. This is essential for the company to maintain the trust and confidence of its present and potential investors. The main reason for the loss reported in the financial year of the company is due its discontinued operations from the home improvement market (Henderson et al., 2015). The comprehensive loss from the discontinued operations as reported in the income statement of the company is $3,1 91.9m (Woolworths: Annual Report, 2016). The company has also reported cash inflows from the sale of its items of property, plant and equipment to about $722m in the accounting period of 2016. Source: https://wow2016ar.qreports.com.au/xresources/pdf/wow16ar-full.pdf However, the notes to financial statement of the company have not stated any reason for large asset write-offs by the company. The reduction in the value of fixed assets of the company reported as asset write-offs is recorded in the statement of cash flows of the company. The company in order to enhance the understandability of its financial information should provide more information about its asset write-offs it in its financial reports (Mintz, 2013). Section 6: Compliant With Conceptual Framework The conceptual accounting framework has been developed by the IASB for improving the quality of financial reporting. The major principles as identified by IASB of conceptual accounting framework are relevance, reliability, faithful presentation and understandability. Thus, financial information should be according to these qualitative characteristics for meeting the needs and expectations of the end-users of financial reports (Pietra, McLeay and Ronen, 2013). The Woolworths Limited has provided financial information in its annual disclosures as per the qualitative characteristics of conceptual accounting framework. The financial information presented is relevant, reliable and also complete in all aspects. The company however needs to enhance the understandability of its financial reports by developing its general purpose financial statements in an easy format. The quality of the financial reports is also significantly influenced by the political factors that the company faces while o perating its business in different countries (Kenny, 2009). The Woolworths Limited is operating on a global level and therefore needs to develop its financial reports in a way for meeting he expectations of its diverse users across the world. As such, the company is complying with the IFRS standards as stated in its annual reports in order to meet its corporate goals of diversification and expansion. The company is also making some voluntarily disclosures for improving its competiveness on a global platform in its annual reports. For example, the company has presented detailed information regarding its trading performance in its annual report that is not required under AASB standards. This is done by the company voluntarily for improving its global competiveness and thus driving its sustainable growth in the foreign markets. The company making such voluntarily disclosures will be bale to achieve its long-term goals of attaining global competitiveness and thus achieving a recognized brand name in the global market of Australia (Woolworths: Ann ual Report, 2016). Thus, the selection of such accounting policies and disclosures will help the company for improving the reliability and transparency in the business operations and thus achieving the trust of foreign investors (Jensen, 2001). Conclusion It can be inferred from the overall discussion held in the report that accounting policies and procedures plays a significant role in depicting the actual financial performance of a business entity. The flexibility provided to the managers in selection of particular accounting policies can also lead to manipulation of accounting activities. Thus, as such it is important for the Board of directors to review the discretion power of the management for ascertaining that the authority provided to them is not used for achieving any personal gains. The analysis of annual disclosure of Woolworths Limited has revealed that the company has effectively followed the relevant AASB and Corporations Law standards for developing its financial reports. However, there are some areas of concern identified in its financial reports that needs more disclosures by the management for improving the understandability of its general purpose financial statements References Bamberg, G. and Spremann, K. 2012. Agency Theory, Information, and Incentives. Springer Science Business Media. Bragg, S. 2010. Wiley GAAP: Interpretation and Application of Generally Accepted Accounting Principles 2011. John Wiley Sons. Gray, I. and Manson, S. 2007. The Audit Process: Principles, Practice and Cases. Cengage Learning EMEA. Henderson, S. et al. 2015. Issues in Financial Accounting. Pearson Higher Education AU. Hoffman, C.W. 2016. Revising the Conceptual Framework of the International Standards: IASB Proposals Met with Support and Skepticism. World Journal of Business and Management 2 (1), pp. 1-32. Horngren, C. et al. 2012. Financial Accounting. Pearson Higher Education AU. Hussey, R. and Ong, A. 2017. Corporate Financial Reporting. Springer. Jensen, M.C. 2001. Foundations of Organizational Strategy. Harvard University Press. Kenny, G. 2009. Diversification Strategy: How to Grow a Business by Diversifying Successfully. Kogan Page Publishers. Mintz, S. 2013. Accounting for the Public Interest: Perspectives on Accountability, Professionalism and Role in Society. Springer Science Business Media. Pierce, F. 2015. Wesfarmers vs. Woolworths: which has the upper hand? [Online]. Available at: https://www.businessreviewaustralia.com/finance/1639/Wesfarmers-vs-Woolworths:-which-has-the-upper-hand [Accessed on: 5 October 2017]. Pietra, R., McLeay, S and Ronen, J. 2013. Accounting and Regulation: New Insights on Governance, Markets and Institutions. Springer Science Business Media. Sheridan, T. 2016. Managerial Fraud: Executive Impression Management, Beyond Red Flags. Routledge. Walton, P. 2011. A Global History of Accounting, Financial Reporting and Public Policy: Asia and Oceania. Emerald Group Publishing. Wesfarmers full-year profit drops 83.3 per cent on $2 billion writedown. 2017. [Online]. Available at: https://www.news.com.au/finance/business/retail/wesfarmers-fullyear-profit-drops-833-per-cent-on-2-billion-writedown/news-story/ca70aa1e16fbe1824a5376a975a0d387 [Accessed on: 5 October 2017]. Wesfarmers: Annual Report. 2016. [Online]. Available at: https://www.wesfarmers.com.au/docs/default-source/reports/2016-annual-report.pdf?sfvrsn=4 [Accessed on: 5 October, 2017]. Wolk, H.I., Dodd, J.L. and Rozycki, J.J. 2012. Accounting Theory: Conceptual Issues in a Political and Economic Environment. SAGE. Woolworths: Annual Report. 2016. [Online]. Available at: https://www.woolworthsholdings.co.za/downloads/2016/WHL-Integrated-Report-2016.pdf [Accessed on: 5 October, 2017].

Richard Adams Writings Essays - British Films,

Richard Adams Writings Richard Adams was born in Newbury, England in May of 1920. He was the youngest of three children, a sister, Katherine, and a brother, John. (Richard had had another brother but he died at the age of three from influenza.) Richard was his father's favorite. George Adams (his dad), spent most of his time with young Richard teaching him about all the nature in the area. Richard grew up a few miles from the town of Newbury on a three acre piece of land with a house named "Oakdene." Richard's father was a doctor at the local hospital in Newbury and his mother, Lilian Rose Adams, was a nurse. Richard spent most of his childhood at home and out wandering around Newbury, enjoying its beauty. At about the age of 10, he was sent to the Horace Hill boarding school. After a few years, he was sent to another prep school, Bradfield, and at the age of 18, received a history scholarship to Oxford University. At the age of 21 he was enlisted in the British Army. Adams has produced a variety of different writings. Along with his numerous novels: Watership Down, Shardik, The Plague Dogs, The Girl in a Swing, Maia, and Traveller, Adams has also written books of short stories: The Iron Wolf and Other Stories, and The Unbroken Web. As well, he has done picture books in verse: The Tyger Voyage, and The Ship's Cat, and books on nature: Nature Through the Seasons, Nature Day and Night, and A Nature Diary. Adams' first novel, Watership Down, is about a group of rabbits who leave their home because of disaster, and go out in search of a new home. On the way, they encounter two other groups of rabbits. One group lives life with a constant knowledge that they are just food for the neighboring farmer, neglecting their own culture. The other group lives so as to never be found by man and to protect itself from predators. When, at last, a new home is found, the rabbits have to undertake a journey in order to find some females so that their colony will grow and prosper. Throughout the novel, Adams puts in various ideas and themes that are meant to make the reader think twice about their relationships with nature and themselves. This novel sets up the themes of freedom and survival, which are also found in two of his other novels, and the theme of the stupidity and cruelty of man to the earth and her creatures. The Plague Dogs, Adams' third novel, is about two dogs who escape from an animal research station and try to fend for themselves in the hills of England. Rowf, a large, black, strong mongrel who has a mean temper and who has a deathly fear of water due to the experiments performed on him. Snitter, a fox terrier who has fits and has the power to see the future because of the brain surgery performed on him in the research station. Together, they meet up with a tod (fox). The tod helps them survive while reporters follow the dogs and spread dangerous rumors of the plague, getting politics involved. The themes in this novel are similar to the ones in Watership Down: survival, freedom, and human cruelty, but added to this list is the theme of rights. In this case, the right of animals, but, in some of his other works the theme extends to those people who are less fortunate and are in awful situations. The Girl in a Swing, his fourth novel, talks about a young man, Alan Desland, who has devoted his life to the business of fine ceramics and who is completely swept off his feet by a young German woman, K?the. They get married, in Florida, after a very short courtship and return to England, where Alan returns to his business and K?the holds spellbound his friends, family, and even him, with her beauty and charm. Inside K?the, though, is a secret which Alan finds out about too late. The main theme in this novel is completely different from his other novels. Adams concentrates mostly on guilt - A guilt that K?the held inside her and eventually caused her destruction. He also explains how guilt affects those around the guilty. Adams' fifth novel, Maia, is a story about a young, beautiful girl who is thrown into slavery by her jealous mother. She makes friends with an exotic girl, Occula, who is sent on a mission from