The Twenties :: essays research papers

Area One-Politics and Government-The Harding Scandals and the Bonus Bill veto   Ã‚  Ã‚  Ã‚  Ã‚  The presidency of Harding was filled with continuous scandal. Many compare the Harding to Grant has both being postwar presidents marked by scandals and corruption. Having appointed several excellent officials, Harding also appointed a number of incompetent and dishonest men to fill important positions, including the Secretary of Interior, Albert B. Fall and Attorney General Harry M. Daugherty.   Ã‚  Ã‚  Ã‚  Ã‚  The Secretary of Interior, Albert B. Fall, in 1921, secured the transfer of several naval oil reserves to his jurisdiction. In 1922, Fall secretly leased reserves at Teapot Dome in Wyoming to Harry F. Sinclair of Monmouth Oil and at Elk Hills in California to Edward Doheny of Pan-American Petroleum. A Senate investigation later revealed that Sinclair had given Fall $305,000 in cash and bonds and a herd of cattle, while Doheny had given him a $100,000 unsecured loans. Sinclair and Doheny were acquitted in 1927 of charges of defrauding the government, but in 1929 Fall was convicted, fined, and imprisoned for bribery.   Ã‚  Ã‚  Ã‚  Ã‚  Another scandal involved Charles R. Forbes, appointed by Harding to head the new Veteran’s Bureau. He seemed energetic and efficient in operating the new hospitals and services for veterans. It was later estimated that he had stolen or squandered about $250 million in Bureau funds.   Ã‚  Ã‚  Ã‚  Ã‚  Scandal also tainted Attorney General Daugherty who, through his intimate friend Jessie Smith, took bribes from bootleggers, income tax evaders, and others in return for protection from prosecution. When the scandal became to come to light, Smith committed suicide in Daugherty’s Washington apartment in May 1923. There was also evidence that Daugherty received money for using his influence in returning the American Metal Company, seized by the government during the war, to its German owners. Area Two-Economics-Prosperity and Innovation   Ã‚  Ã‚  Ã‚  Ã‚  Though overall the economy was strong between 1922 and 1929, certain segments of the economy, especially agriculture, did not share in the nation’s general prosperity. Improved industrial efficiency, which resulted in lower prices for goods, was primarily responsible. Manufacturing output increased about 65%, and productivity, or output per hour increased by about 45%. The numbers of industrial workers actually decreased from 9 million to 8.8 million during the decade. The increased productivity resulted from improved machinery, which in turn came about for several reasons. Industry changed from steam to electric power, allowing the design of more intricate machines and replaced the work of human hands. By 1929, 70% of industrial power came from electricity.

Critical Analysis Paper: BlackBerry Essay

According to the article â€Å"BlackBerry Posts Loss as Phones Go Unsold†, BlackBerry performs a poor performance. Business has a quarterly loss in 2013 for $965 million. The revenue had drop 45% that down to $1.57 billion from $2.86 billion compares with a year earlier. BlackBerry lost $248 million, or 47 cents a share, and analysts forecast 49 cents a share loss for the quarter ended August 31. The net loss is $235 million which excluding inventory charge and restructuring charges in the latest quarter. The cash position also down to $2.6 billion from $3.1 billion at quarter-end. Smartphone maker report a hefty operating loss of nearly $1 billion charge on inventory of unsold phones. Fairfax Financial Holdings to take the company private for about $4.7 billion, or $9 a share. As a former mobile king, BlackBerry faces to exit the handset business. This report will conduct a situation analysis of potential causes of declining sales and profits of Black Berry. And also would id entify internal company and external environment for the poor performance. See more: analytical writing A particular reason of the sales declining is BlackBerry cannot satisfy enough to the market and product demand for customers. Sales declining imply to revenues declining. BlackBerry recognized most phone’s revenue is from the older models, which means the new phones are not much attract to customers. Ian Austen (2013) noted that BlackBerry could soon be leaving the business of making phones—leaving fewer options for a vocal minority still committed to phones with its once popular physical keyboard. (para. 1) BlackBerry usually produces the keyboard models, but with people’s pursuit on phone, most smartphone users prefer to use touch-screen models instead of the physical keyboards. Keyboard was one of a special characteristic of BlackBerry, eventually, that become an obstacle for its evolution. The reason of revenue declining of BlackBerry is it has a lower market share. BlackBerry has not change their product style and business strategy while customers are seeking the new products constantly, market share would  be affected and would cause revenue going down. Joseph Palenchar (2013) noted that â€Å"the old days saw BlackBerry’s market share in global smartphone shipments peak in 2009 at 20% and fall to 5% in 2012, marking the company’s lowest level since 2003.† (para. 3) â€Å"Increase the chances that BlackBerry can regain some of its lost market share during the make-or-break year of 2013† (para. 9) Revenue is declining because the market is becoming smaller. With Apple, Samsung’s products are growing deeply in customers’ impression, BlackBerry is standing in the behind position compare with those two brands. BlackBerry is not enough strong to attract those Apple and Samsung’s customers to choose its products even they produce the new products. A poor financial performance reflects BlackBerry Company is going down. In the article of â€Å"Company Overview†, the author stated a SWOT analysis of BlackBerry. In the weaknesses of company, the author described the revenues decreased primarily due to lower shipment volumes and lower average selling prices of hardware products. The company’s revenues declined from $19,907 million in FY2011 to $11,073 million in FY 2013. (p.6) Continuous decline impacts the company’s profits and margins. In 2013, RIM recorded the operating loss of $1,235 million compared with operation profit of $1,497 million and $4,636 million in 2012 and 2011. It also suffers a decline in the cash position which from $4,009 million in 2011 to $2,303 in 2013. Substitutes and competitive also are the factors that affect BlackBerry suffer in this situation. The lower revenues will decrease market share so that to increase the competition. BlackBerry lack of innovation; however, its competitors of smartphone company such as Apple, Samsung, HTC, Microsoft, etc. are rapidly evolving. Most of them have larger customer bases, greater financial, sales and distribution than BlackBerry. As consumers, under an available circumstance of selecting, they prefer a product with innovation, creative, and satisfaction. Competitive pressure impact the company’s growth and market share. Fairfax Financial Holdings is going to take the company private, but still won’t solve the company’s problems. BlackBerry still insist their employees of the same smartphones and tablets that use at home. It is losing in the  consumer arena. Therefore, even though investors take it private, BlackBerry’s revenue still would not be changed because it did not change its operation of business. The most primary reason for the company’s poor performance is BlackBerry lack of innovation. Because of BlackBerry did not change its strategy in order to satisfy customer’s demand for the smartphone, the product sales and revenues are going down. Also, the lower market share and the higher competition would impact BlackBerry’s profit and margin. Bibliography: Connors, W. (2013). Blackberry posts loss as phones go unsold. Austen, I. (2013). Blackberry’s future in doubt, keyboard lovers bemoan their own. Palenchar, J. (2013). Analysts: Blackberry facing tough battle. (2013). Company overview.

Betty Botter Tongue Twister to Practice the B Sound

Tongue twisters are fun words games we use to challenge our pronunciation. As an English learner, you can use tongue twisters to help with pronunciation of certain consonant sounds in combination with a wide variety of vowels. In this tongue twister, Betty Botter, you can work on your bs. Use lots of breath to help you get the plosive b sound strong. Remember that b is voiced  Ã¢â‚¬â€ pronounced using the vocal chords by a strong explosion of air through the lips. Betty Botter Betty Botter had some butter,But, she said, this butters bitter.If I bake this bitter butter,it would make my batter bitter.But a bit of better butter--that would make my batter better. So she bought a bit of butter,better than her bitter butter,and she baked it in her batter,and the batter was not bitter.So twas better Betty Botterbought a bit of better butter. Listen to  Ã‚  Betty Botter  a number of times and then try it for yourself! Improving Your Pronunciation of B Better Botter helps you practice b. The b sound is voiced and is similar to the p sound which is voiceless. The difference between the two sounds is that the b uses the voice. Practice the difference in these sounds with minimal pairs - words that only have a difference between the b and p sound.   bob - popblob - plopbeg - pegpitch - bitchpeck - beck Feel the Sound Difference Place your hand on your throat and say bag and you will feel a vibration for both b and go. Place your hand on your throat and say pop and youll feel no vibration at all. To practice the difference, try the Peter Piper tongue twister below which focuses on the voiceless p.

What Are VB.Net Resources and How Are They Used

After Visual Basic students learn all about loops and conditional statements and subroutines, one of the next things that they often ask is, How do I add a bitmap, a .wav file, a custom cursor, or some other special effect? One answer is resource files. When you add a resource file to your project, its integrated for maximum execution speed and minimum hassle when packaging and deploying your application. Using resource files isnt the only way to include files in a VB project, but it has real advantages. For example, you could include a bitmap in a PictureBox control or use the mciSendString Win32 API.   Microsoft defines a resource as any nonexecutable data that is logically deployed with an application. The easiest way to manage resource files in your project is to select the Resources tab in the project properties. You bring this up by double-clicking My Project in Solution Explorer or in your project properties under the Project menu item. Types of Resource Files StringsImages  IconsAudioFilesOther Resource Files Simplify Globalization Using resource files adds another advantage: better globalization. Resources are normally included in your main assembly, but .NET also lets you package resources into satellite assemblies. This way, you accomplish better globalization because you include only the satellite assemblies that are needed. Microsoft gave each language dialect a code. For example, the American dialect of English is indicated by the string en-US, and the Swiss dialect of French is indicated by fr-CH. These codes identify the satellite assemblies that contain culture-specific resource files. When an application runs, Windows automatically uses the resources contained in the satellite assembly with the culture determined from Windows settings. VB.Net Add Resource Files Because resources are a property of the solution in VB.Net, you access them just like other properties: by name using the My.Resources object. To illustrate, examine this application  designed to display icons for Aristotles four elements: air, earth, fire,  and water. First, you need to add the icons. Select the Resources tab from your Project Properties. Add icons by choosing Add Existing File  from the Add Resources drop-down menu. After a resource is added, the new code looks like this: Private Sub RadioButton1_CheckedChanged( ...Handles MyBase.LoadButton1.Image My.Resources.EARTH.ToBitmapButton1.Text EarthEnd Sub Embedding With Visual Studio If youre using Visual Studio, you can embed resources directly into your project assembly. These steps add an image directly to your project: Right-click the project in the Solution Explorer. Click Add and  then click Add Existing Item.Browse to your image file and click Open.Display the properties for the image that was just added.Set the Build Action property to Embedded Resource. You can then use the bitmap directly in code like this (where the bitmap was the third one, index number 2 in the assembly). Dim res() As String GetType(Form1).Assembly.GetManifestResourceNames()PictureBox1.Image New System.Drawing.Bitmap( _GetType(Form1).Assembly.GetManifestResourceStream(res(2))) Although these resources are embedded as binary data directly in the main assembly or in satellite assembly files, when you build your project in Visual Studio, theyre referenced by an XML-based file format that uses the extension .resx. For example, heres a snippet from the .resx file you just created: assembly aliasSystem.Windows.Forms nameSystem.Windows.Forms,Version2.0.0.0, Cultureneutral, PublicKeyTokenb77a5c561934e089 /data nameAIRtypeSystem.Resources.ResXFileRef,System.Windows.Formsvalue..\Resources\CLOUD.ICO;System.Drawing.Icon,System.Drawing, Version2.0.0.0,Cultureneutral,PublicKeyTokenb03f5f7f11d50a3a/value/data Because they are just text XML files, a .resx file cant be used directly by a .NET framework application. It has to be converted to a binary .resources file, adding it to your application. This job is accomplished by a utility program named Resgen.exe. You might want to do this to create the satellite assemblies for globalization. You have to run resgen.exe from a command prompt. Source Resources Overview. Microsoft, 2015.

Roman Architecture Essay - 1439 Words

When one thinks of Roman architecture, many things come to mind, such as arches, columns, statues, and richly covered surfaces in marbles. One must stop to think that this empire, which gained power and influence in the first century BC, must have been influenced from the thousands of years of cultures preceding them in order to create their masterpieces of ingenuity. This phenomenon can be seen in our borrowing of ideas of ancient Greece and Rome for the construction of our capitol buildings in the United States. The Romans surely considered design principles of other cultures when developing their buildings, since daily conquests of new lands opened Roman soldiers’ eyes to innovations from the great vastness of their empire. This†¦show more content†¦Doing so, he managed to design the most captivating section of his estate, the Great Canopus and Serapeum, which have roots in ancient architecture, while also displaying Hadrian’s own capability to produce innov ative designs through many different elements of their construction. Ancient Egypt, which lasted as a powerful empire from 3150 to 30 BC, left a huge legacy on the world of construction and architecture. Although their architecture revolved around veneration of the dead, it served as inspiration to many Greek buildings and as a key source for Hadrian’s Canopus design. Through his travels to Alexandria, Egypt, Hadrian was inspired for the overall design of the estate by attempting to recreate an Alexandrian garden with sacred landscapes, as seen through the Villa’s structures conforming to the terrain. Unfortunately, in the 16th century AD, these example of an Alexandrian garden, created through the use of statuary and fountains were removed from Hadrian’s villa and re-used in order to create a Renaissance garden based upon â€Å"Roman† ideals of gardening. The large lake in the center of the Canopus is representative of a branch of the Nile River that connects Alexandria to the Egyptian city of Canopus on the Nile Delta, fo r which this section of his villa was named after. The city of Canopus was long revered for its great nocturnal celebrations for which Hadrian wanted to recreate throughShow MoreRelatedRoman Architecture1056 Words   |  5 PagesThe White House, The Capitol Building, The Lincoln Memorial, all these things have been affected by ancient Roman architecture. This ancient Roman architecture came to be around the time period of the Pax Romana in the Roman Empire. It was a time of great wealth and prosperity for the empire which brought it into a time of a sort of golden age for architecture. This type of architecture was influenced by the ancient Greeks, but it took their ideas and transformed them to better advantage their ownRead MoreRoman Architecture : Architecture And Structure1753 Words   |  8 Pages2010 Jun 09 Roman Architecture and Structure Roman architecture followed the heritage of earlier Greek architects. The Romans had respect for the Greek s architectural traditions, order, and design. The Romans were innovators that had the adaptability to use and improve existing techniques as well as new and existing material to create some of the most famous architectural structures like the temple, triumphal arch, and amphitheater. As time advanced so did the society needs of the Romans and withRead MoreRoman Architecture And Its Impact On Society1550 Words   |  7 Pages Introduction Roman architecture is a thing of the past; however, it still has a large impact upon society today. Roman buildings are what our buildings were derived from, a lot of the art we think of when we see a building was once thought of by the romans, was once built by the romans, and some of these buildings are still standing today, not many, but a few. Now, roman architecture is significant because of how it affected the growth of our architecture, how it evolved changed how weRead More Roman Architecture Essay2647 Words   |  11 PagesRoman Architecture Many centuries before the birth of Christ, the city of Rome grew, prospered, and developed into a thriving Republic. As in most cultures, Romes buildings became more elaborate and impressive. They developed fantastic building technologies and ideas. The feats of Roman engineers were groundbreaking, and many structures built by this culture still stand today. With knowledge borrowed from the Greeks, Rome made impressive architectural achievements, these were namely majorRead MoreRoman Architecture And The Renaissance1277 Words   |  6 PagesRoman Architecture and the Renaissance In the renaissance days, the designers reject the many-sided quality and vertical of the Gothic style for the straightforwardness and balanced degrees of class. Balanced bends, vaults, and the built up solicitations were revived. This reclamation was refined through direct view of Roman leftovers. The renaissance structural planning is the construction modeling of the time frame between the mid fifteenth and mid seventeenth hundreds of years in distinctiveRead MoreGreek to Roman Architecture544 Words   |  2 PagesGreek and which is Roman, However, show them pictures of the Forum of Trajan, the Pantheon, or the Agora, and they will be flipping coins trying to guess which is Roman architecture and which is Greek architecture. It is one thing being able to identify which building belongs to which civilization, it another being able to distinguish the subtle style changes within each mega structure. Very similar to a textbook and essay, Greek architecture is like a textbook, and the Romans used the textbook toRead MoreThe Roman Architecture And Engineering1798 Words   |  8 Pagestribes, the Roman Empire was done for, and had no chance of coming back to greatness; so why is it still looked upon as an amazing feat of ruling? A legacy is a reminder of something, like an empire, that was once great and inspired many things today, the way Roman architecture and engineering has. If we didn t have any of these great Roman architectural feats, then many people today wouldn t have a roof over their heads, and it would take much longer to get from place to place. The Roman legaciesRead MoreThe Influence of the Greeks and Romans on Architecture894 Words   |  4 PagesIntroduction â€Å"Architecture should speak of its time and place, but yearn for timelessness.† (Gehry, 2012). What Frank Gehry was trying to say in simple terms was our culture cannot do without proper appreciation of its classical roots and it goes without saying that the Romans and Greeks have influenced art and architecture with its classical style in a number of different ways. Allow me to give a definition for the word classical. â€Å"Classical† refers to any art or architecture modelled after ancientRead MoreThe Influence of Roman Engineering and Architecture1573 Words   |  7 PagesThe ingeniousness and beauty of Roman architecture has not been lost on us in the 2000 years since it was built. Even today, we still marvel at what incredible builders the Romans were, and at the sheer scale and integrity of many of their projects. It is hard to argue that today’s architecture will maintain the same lasting grandeur as that which the Romans built. If we can still re spect and admire the grandeur of Rome as it was in it’s day, one can only imagine how much of an influence peopleRead MoreRoman Architecture : The Temple Of Apollo1211 Words   |  5 Pagesmuch of their culture, and as a result many aspects of their architecture. Because the Roman style of architecture had developed over many years, once they adopted their ways of building, they rarely changed it. A case in which the Romans used some Etruscan elements in their building is the Capitoline Temple in Rome. However, a very important exception of this is how they adopted greek elements that they liked into their style. Once the Romans came in contact with the Greeks, they used some of their

Communicating Key Audit Matters in Independent Audit Report

Question: How Communicating Key Audit Matters in Independent Audit Report? Answer: Introduction ASA701 Communicating key Audit Matters in independent Audit report it specifically deals with, the overall responsibility that an auditor has to convey key matters in the audit report. Communication of key matters provides a lot of transparency to the users of financial statements, they get an idea on which are the most important areas of audit in the auditors report. It also helps the users to understand the entity better and also the key areas that forms the basis of the auditors report in a better and a detailed manner. The main reason why this standard was proposed to give the overall transparency related to the method of audit and the financial statements of an entity and enhancement. It helps the management in preparing its books of accounts in a better way. The key audit matters are those matters that are a significant part of auditing and are communicated to those charged with governance. Determination of Key Audit Matter(KAM) The key audit matters are determine by the following factors- The areas of material misstatement, where the chances of risks are higher. The areas of significant judgment, that requires specific assertions by the auditor, like decisions regarding the management, very estimations of accounting and areas where there is an estimation of uncertainty. The overall effect that occurs on the significant transactions and areas during the period.( Sirois, L.P., Bdard, J. and Bera, P., 2016) Need for ASA701 The need for ASA701, can be put in words like communication of key and important matters of auditing to the users of the audit report, to provide transparency and a detailed and more information to the users of the financial statements, and also that the users have an understanding of the entity they are putting a reliance on. The development of standard helps in bringing the important areas of audit into limelight and how they affect the entity, the end users and also helps in establishing the responsibility of the end users. c) Collapse of Lehman Brothers The year 2008, witnessed the biggest collapse of that era, the fall down of the Lehman brothers that made the world aware about the severity of the financial crisis going on in the world, and how immediate action is required to fight the situation. The bankruptcy provided validation about the overall distress in the market; it also led to awareness among the investors. The reason behind the fall down was the , unpredictable government course of action amplified obscurity. d) Reasons, which led to collapse of Lehman brothers. There were several reasons that led to the fall of the Layman Brothers, One of the primary reasons of the downfall was the liberation on the subprime mortgage. Seeing the Lehman Brothers, a large number of other banks in U.S started providing such enormous subprime mortgage advance in 2007.The main reasons why these submarine mortgages were forwarded was to give the customers with poor credit standing a stand, it would not be accepted if the customer had poor credit score. One of the main characteristics of the subprime mortgage advance was the changeable interest rate. But these differential interest rates , later became a huge problem, because it held to trouble for the borrowers to pay back their credits, because these rates were ultimately higher than the normal rate , at which such credits were disbursed among the people in the society. Because of this, the prices of houses began to fall drastically, and the investors were not aware of the situation, because the company had give n an assurance to the investors that such fall in prices will not affect the overall standing of the company and the investors. However due to high interest rates, there was a massive fall in the prices of the housed and that led to huge losses. (Frank, N. and Hessen, H., 2009) The two faults that can be identified here, is the inability of the firm to correctly forecast the future and hence undertake counter actions to deal with the same. The second point would be the negligence on part of the top executives. They must have known the high rates effect on the prices of the housed and how eventually the investors will suffer from the same, but still they dint take any steps in that regard because they were busy, in making their own profit and making use of their dominant position. When we borrow too much, it leads to high level of leverage and that is also one of the main reason for the fall in the bankruptcy of the Lehman Brothers. Another reason that was responsible for this fall was the perversion of the disclosure or revelation of repos transactions. The lack of component and operational risk management policies also led to the fall in the Lehman brothers. The company also entered into various mergers and other amalgamation s, but that eventually fizzled out and that was also one of the reasons. As the firm faced huge losses, and this led to the disposal of some of their subsidiaries. . Assets were disposed due to huge losses of around $3 billion in its second quarter. By September 2008, the Losses were around $4 billion, which make them to sell their shares. Because of all these the investors lost confidence and thus there was a decline in the prices of the companys stock.( Cordos, G.S. and Flpa, M.T., 2015) Briefly if we put in the main reasons of the fall of the Lehman brothers was The overall liquidity crunch Huge losses Subprime mortgages Failed bailouts Negligence of the executives Manipulation of the financial disclosures Failed mergers Repo Transactions e) Effect of collapse of Lehmans Brother. The collapse of the Lehman brothers led an awakening in the world about the severity of the financial crisis and how that was affecting the other business companies in the U.S and the U.K. It led to depreciation in the prices of the property in U.S. It also led to writing of agricultural debt amounting to around nearly 47 million dollar that it owed to the Federal Agricultural Corporation. There was also sudden unemployment, as large number of people lost their jobs. The loss of jobs led to the demise of the Lehman brothers. The prices of the firms stock also fell, and it had an impact on the investors and the health of the company. This even had huge impact on the creditors and the investors. It had some major effect on the some of the big companies and firms outside Europe and the United Kingdom.(O Fernando, C.S., May, A.D. and Megginson, W.L., 2012) f) Auditing issues surrounding the collapse of Lehmans Brother There were several auditing issues that led to a fall the company. The main such issues were- The failure on part of the external auditor to identify the occurrence of the repo rates and how the company was affected by the same. The failure on part of the auditor to decipher how the company had broken the generally accepted accounting principles that is the responsibility to make sure that all the factors affecting the auditor externally was revealed properly. There was no standard regulation on part of the company to be followed, and this absurd and ambiguous standard that was used to guide all the critical transactions contributed to the collapse on part of the Lehman brothers. The failure on part of the auditors to identify the misconducts of the executives of the company If the audit was conducted properly, the auditor would have been able to identify the main pointers of mistakes very easily. Issues led to the introduction of ASA701 communicating key audit matters in the independent audit report: The downfall of the company not only affected the U.S economy, but also led to wide spread crisis worldwide. The main reasons that led to this fall was have been discussed earlier. In order to increase the overall transparency and to improve the quality of auditing, the ASA701 was introduced, for communicating key audit matters in the areas of the independent auditors. The overall lack of the accounting policies, the lack of communication between the various parties that led to the overall material misstatement and the use of ambiguous and substandard method for reporting on key matters, all this led to a need to introduce this standard of auditing.( Hofmann, C., 2011) In year 2008, the world witnessed huge financial crisis, and this led to a serious situation for the other companies also. The overall economic state was also detoriating, there was a lot of complications in maintain liquidity in the market and ascertaining flow of income through the financial institutions, shares and asset sale. The auditors also faced a huge amount of problem in conducting the audit, there were issues in collection of data and the overall documentation. The auditor was not able to counter fulfil their suspicions that aroused during audit. There are three ways by which the auditor can conduct their audit work effectively. There were three approaches open for the auditors to accomplish audit risk : If the clients are having risks, the auditors can give their resignation. If there is a continued suspicion, then the auditors can change their audit report and modify their opinion The auditors must follow the code of ethics and give their best in conducting the audit. It was not easy to resign from the risky clients, hence the auditors, can resort for the other two options of modifying their report and also increase their efforts for the same. The auditors are in risky situation, if they fail to identify the hidden risks and comment for the same they will be liable because they are auditing the financial statements, so they have to answer the clients, thus it burdens the auditor with additional pressure. Where there is a substantial uncertainty that their clients will stay as a going concern both ASA570 and ASA701 necessitate auditors to amend their audit judgement, hence the above situation led to a introduction of anew standards of auditing known as the ASA701 communicating key audit matters in the independent audit report. It provides great transparency to the investors , and the end users of the financial statements. (Gentler, M., Kiyotaki, N. and Quorate, A., 2012). Requirements of ASA701 The main requirements are communication of key audit matters to those charged with governance, to determine the key audit matters, and proper documentation. Scope of ASA701 Users of financial statements show more attention in the matters in which auditors has the vital communication with those charged with governance, as stated in SSA260 Necessitates auditors to converse the key audit matters with those charged with governance, which not only is the cause for increased communication between auditors and with those charged with governance Increased communication with those charged with governance will carry to the note of management of the entity to revelation in the financial statements, which are stated in audit report. SSA 320 materiality in planning and performing the audit, clarifies that it is sound to the auditor to adopt that the users of financial statements : That covers that auditors must have a detailed about the entity and the management; pre field audit must be done. The auditor should ascertain that the financial statements are properly equipped and properly audited. The auditor should have a realisation about the uncertainties of the future, and should make sound decisions based on the financial information of the company. l) Requirement of disclosure of key audit matters in case ASA701 is applicable to Lehman Brothers during that time There should be proper transparency in the internal control performed by the auditor in the areas of book keeping. In case of Lehman Brothers it lacked transparency in case of its internal records and its management. There was also lack of management to monitor liquidity; there was lack of understanding of counter party risks, the large amount of risks involved in prime mortgage loan was also not mentioned. The overall losses are needed to be communicated to the company. (Snchez-Medina, A.J., Blzquez-Santana, F. and Alonso, J.B) The key audit matters are to be described in the auditors report, each matter must be described separately and proper judgement must be passed on the same. It will lead to an improvement in the overall method of auditing, as the quality of audit increases and also helps in recognising the relationship between the key audit matters and the independent auditors responsibility. (Wiggins, R.Z., Bennett, R.L. and Metrick, A., 2014.) Collapse of Lehman Brothers was not forewarn in the auditors report which gave and unqualified report previous to its collapse because auditors were failed to recognize the time of repos transaction, they fail to identify the credit risk occupied and materiality of the transactions, they failed to identify the financial misconduct mad by the executives of the Lehman. (Azim, M.I., 2013.) l) Recommendations and Conclusion:- From the detailed analysis of the collapse of the Lehman brothers it is very how important it is to audit the finical statements to the best of one ability to showcase the true position of the financial statements and the advent of the new standards of recognition helps in making the work easier and more effective. It was wrong on part of Lehman to not give importance to overall standards and policies of accounting ,and therefore it faced the consequences.( Presley, T.J. and Jones, B., 2014.) References Financial spillovers to emerging markets during the global financial crisis(No. 9-104). International Monetary Fund Central bank collateral and the Lehman collapse.Capital Markets Law Journal,6(4), pp.456-469. . The value of investment banking relationships: evidence from the collapse of Lehman Brothers.The Journal of Finance,67(1), pp.235-270. Financial crises, bank risk exposure and government financial policy.Journal of Monetary Economics,59, pp.S17-S34. Independent Auditors Report: Australian Trends From 1996 to 2010.Journal of Modern Accounting and Auditing,9(3), p.356. Do Auditors Reflect the True Image of the Company Contrary to the Clients Interests? An Artificial Intelligence Approach.Journal of Business Ethics, pp.1-17 . The Informational Value of Key Audit Matters in the Auditors Report: Evidence from an Eye-tracking Study. Understanding audit reporting changes: introduction of Key Audit Matters.Accounting and Management Information Systems,14(1), p.128. The Lehman Brothers Bankruptcy D: The Role of Ernst Young. Lehman Brothers: The Case Against Self-Regulation.Journal of Leadership, Accountability and Ethics,11(2), p.11

Pink Floyd free essay sample

If you didnt go to the Pink Floyd concert this May, or havent seen the concert on Pay-Per-View, you missed one heck of a concert. It was a first class performance by the worlds greatest rock n roll band. After 28 years of touring, Pink Floyd is still going strong. David Gilmour well deserves the title of the greatest guitarist of all time, especially during extended solos like Shine On You Crazy Diamond, Money, and Comfortably Numb. The $5 million stage was more than 200-feet long and required 700 tons of steel. The stage resembled half of a huge shell. Over 300 speakers filled the stadium with the best space rock ever! Original Pink Floyd members were David Gilmour, lead vocals and guitar; Rick Wright on keyboards; and Nick Mason on drums. They included three back-up singers, electric and bass guitars, saxophone, keyboards and percussion in this spectacular performance. The Pink Floyd concert was like a natural high with kaleidoscope and lava lamp images on the back of the shell. We will write a custom essay sample on Pink Floyd or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the middle of the stage was a huge circular screen which showed things including clocks coming toward you, runways with airplanes taking off, and the sun being eclipsed by the moon. At the end of the first half, two giant pigs with glaring eyes emerged from the top of the speakers. They danced around during Pigs on the Wing, and at the end of the song, they fell onto the ground. After the pigs fell, extremely bright balls of fire shot from the front of the stage. It was so amazing that I had a Momentary Lapse of Reason. Ive been to a lot of concerts, but the Pink Floyd concert was the most incredible experience Ive ever had. There are rumors that Pink Floyd is coming back to the United States in the spring. If these rumors are true, you can be sure Ill be there