Case Study Of The Doctor Orders - 1770 Words

Kelsey Schmader HLTH200-02 Case Study 1. The doctor orders the following tests: complete blood count (CBC), ESR, hemoglobin A1C, blood glucose, urinalysis, and CT bladder. a. Describe each diagnostic test and what each test is supposed to indicate (what might each test show and why?) Make sure you give references for your answers. b. Why do you think they are appropriate for the doctor to order for Tim at this time? Make sure you give references for your answers. CBC a. The complete blood count (CBC) is a blood test that measures the number of different cells in the blood including but not limited to platelets, white blood cells, and red blood cells. It may indicate whether or not the patient has low hemoglobin and hematocrit numbers†¦show more content†¦This level is elevated in those who are fatigued which is why the doctor may have ordered this test. An elevated ESR may indicate diabetes (Kavanaugh 2003). b. This test is appropriate for the doctor to order because it may indicate why Tim is feeling fatigued. Hemoglobin A1C a. A hemoglobin A1C diagnostic test is an average of blood sugars over three month period. It tells what percentage of hemoglobin carries oxygen and how much of the hemoglobin had glucose attached to it. Deals with glucose readings to get a longer evaluation of blood sugar over last three months as opposed to single finger sticks that only give blood sugar at a specific moment. That would better indicate a pattern of increased blood glucose that would lead to a diagnosis of diabetes (Manfred 2014). b. Hemoglobin A1C is a good test for Tim because it indicates his blood sugar over a longer period of time which may indicate diabetes. Extreme thirst is a common sign of diabetes and because it was a symptom of Tim the doctor ordered this test to see if he may be diabetic. Blood Glucose a. Blood glucose –see if glucose was elevated at a current moment. Fasting blood glucose may indicate diabetes or if normal numbers could rule out diabetes. b. The doctor ordered a blood glucose test for Tim to see if his blood sugar is elevated. Again, his symptoms are common signs of diabetes and this test could indicate whether or not he may have it. Tim has excessive thirst, and this is a sign of

Review Of Mary Shelley s Frankenstein - 1765 Words

Novel vs. Film What do you think about the Frankenstein novel and movies? Frankenstein is a famous horror novel written by Mary Shelley. There are two versions of the book, the originally published in 1818 and then a revised version that was published in 1831. Mary Shelley depicts a man named Victor Frankenstein, who discover the secret of animating lifeless matter by a collection of dead body parts. He creates a creature, and he does not teach the creature anything. The creature is rejected by society. As the result of this is, the creature vows revenge on Victor Frankenstein. The novel shows that monster is intellect and speech. There are different film versions of the novel, but in many of them turns out the monster does not know how to speak. The films are considerably different than the Mary Shelley s Frankenstein novel. The novel has involved more emotions than films. Mary Shelley provides the reader with a more complex relationship between Victor and the monster, but films j ust depicted simplified story line. I would use the James Whale 1931 film compare to the novel. Compare to the novel and film, the monster is depicted in different manners, leading the role of monster to be different interpreted. It considers much different than Mary Shelley s Frankenstein novel. James Whale directed the 1931 film version of Frankenstein. The main character is named Henry Frankenstein. They change up the name with Victor’s best friend. That isShow MoreRelatedReview Of Dracula ( Bram Stoker ) Mary Shelley s Frankenstein Essay855 Words   |  4 PagesINDEPENDENT NOVEL STUDY Vaani Ladhar Dracula (Bram Stoker) Frankenstein (Mary Shelley) TABLE OF CONTENTS How could Dracula be interpreted as a tale of â€Å"Forbitten Romance?†.†¦.........2 Make a Skit/Video about a part of the book†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 Choose a Controversial issue from the text and take a stand on ONE SIDE of the issue†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦...4 – 5 Art Piece #1: Frankenstein and his Bride†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......6 Art Piece #2: Dracula (Bela Lugosi from the 1931 movie)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦7 â€Æ' QuestionRead MoreThe Consequences Of Technology On Mary Shelley s Frankenstein Essay1703 Words   |  7 PagesThe Consequences of Technology Revealed in Shelley s Frankenstein In Mary Shelley’s Frankenstein, written in the late nineteenth century, the author proposes that knowledge and technology can be dangerous to individuals and all of humanity. 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An Evaluation of the reasons why a multinational enterprise undertakes FDI Free Essays

string(170) " by competition through the forces of globalisation on the MNC making the rate of risk higher as to sustain long term operation in domestic markets \(Nunnenkamp, 2002\)\." Introduction There are many conceptualisations and variations to the definition of MNCs; however the most commonly accepted definition is that of Barros and Cabral (2000) who defines a MNC as the corporation which has large structure spanning the national border of a country to include operations and bases in several countries. For a firm to be considered a MNC it must own at least in part, a subsidiary in a second country (Glass and Saggi, 2002). Over the years, MNCs have continued to expand their operations by improving their investment portfolios and operational outputs in other countries in their quest to enhance productivity and more importantly achieve better value for their owners and maximise profit for their shareholders. We will write a custom essay sample on An Evaluation of the reasons why a multinational enterprise undertakes FDI or any similar topic only for you Order Now While it is often argued that MNCs ship capital to where it is scarce, transfer technology and management expertise from one country to another, and promote the efficient allocation of resources in the global economy, it is important to note that inspite of this, the ultimate goal of the corporation is to increase profit and improve share value for its owners and shareholders (Barris and Cabra, 2002). It is believed that while FDI helps the country at the receiving end it also benefits the organisation because FDI by their nature has multiple benefits and can offer quick growth for any organisation if carefully undertaken. According to the International Monetary Fund (2002) FDI refers to an investment made to acquire lasting or long-term interest in enterprises operating outside of the economy of the investor. It plays an important role in global business especially in an everly increasingly competitive world marked by competition and globalisation. FDI can also provide a firm with new opportunities, distribution channels, markets and cheaper production capacities including, skills, technology and financing (IMF, 2002). In the work of Zarsky (2002) he points out that MNCs who invests in other countries often tend to benefit from lower costs and higher productive efficiency amongst several other benefits, therefore for firms seeking to achieve better performance, FDI is always undertaken as a strategic decision to achieve such objective. The aim of this paper is to discuss the importance of FDI to multinational organisations and evaluate some of the most important reasons why a MNC would undertake foreign direct investment abroad. The paper looks at the varying benefits of FDI and how it particularly benefits the firm undertaking such investment. Understanding FDI UNCTAD estimates that there are over 76,000 multinational corporations with affiliates and subsidiaries running to about 770,000 worldwide (UNCTAD, 2007). In 2005, FDI was estimated to have reached over $1.5 trillion with MNCs responsible for 12% of the world’s GDP while employing over 55 million people across the world (OECD, 2007). The OECD also estimates that 100 of the largest MNCs in the world account for over 15% of foreign assets with them accounting for 1/3 of global trade. In total over 70% of MNCs are based in advanced industrial countries with increasing stake in the developing world. The increasing surge of MNCs in emerging markets over the past decade especially attests to the fact they are increasingly undertaking FDI through market expansion to diversify their portfolios and increase their presence. Some of the few examples are: Vodaphone in India, Ford in Turkey, Microsoft in the UK and Coca cola in African countries. As is inherent in some of these examples, F DI can either take the form of merger, acquisition, the development of a new firm and or joint venture participation with existing firms (OECD, 2007). According to Thomsen (2000) FDI is important in so many ways for both the host country and the firm making the FDI because it holds various advantages in the long term for both. However, while its benefit for the firm is the focus of this paper, it is important to state that FDI can stimulate competition so long as there are proper policies in the host economy. Therefore FDI investment is not only important to the multinational firm but also the host economy for which it has so many spill over effects which is enjoyed in the long term. Generally, there is outward FDI and inward FDI. Outward FDI is the type of foreign direct investment which typically leaves a country while inward FDI is one which is received by a host country (Ekholm, 2004). MNCs participate in both forms of FDI and benefits from both at the same time through their activities. While outward FDI is generally not in favour of the host economy, it is said to benefit the MNC because it offers the opportunity for reinvest ment or as profits for the owners or shareholders. Inward FDI on the other hand benefits the host economy as it creates jobs and generates tax for the government while also benefiting the multinational company in several ways. Why MNCs undertake FDI In the old economics textbook, various reasons were adduced to the motive behind MNCs undertaking of FDI in other countries. One of the main explanations is that ‘Market disequilibrium and distortions’ give MNCs the impetus to undertake foreign investment (See e.g. Knickerbocker, 1973; p. 21). In a sense, it is believed that government imposed distortions as well as temporary disequilibria for example causes the need for firms to look outside their domestic market for opportunities in other countries (Ibid). Another explanation often put forward for MNCs motive for undertaking FDI is that market imperfection drives MNCs to look outward because imperfection in a market creates opportunities and economies of scale therefore it offers the MNC a perfect opportunity to increase its profits by investing its stake (See: Ekholm, 2004). While some of these explanations are still true to some extent as to why MNCs undertake FDI, the current and most important reasons indeed surpas es what is documented in the old textbooks of economics as explained earlier. Today, MNCs undertake foreign direct investment for various reasons and one of such is the increasing pressure wielded by competition through the forces of globalisation on the MNC making the rate of risk higher as to sustain long term operation in domestic markets (Nunnenkamp, 2002). You read "An Evaluation of the reasons why a multinational enterprise undertakes FDI" in category "Essay examples" Indeed through the modern process of globalisation, competition has taken a new dimension as forces outside a country can compete with a firm irrespective of its dominance in its local market, its brand awareness or strenghth, with the power of increasing competition therefore, survival today is about thinking ahead of the game, organisational thinking through innovation, collaboration, expansion and increased presence in other markets. This can be said to be one of the main impetus for MNCs motive for undertaking FDI abroad as such investment would enable the firm to achieve its objectives of improving profits and enhancing productivity theough cost cutting. Another motive behind MNCs undertaking of foreign direct investment is to diversify risks in their markets and portfolios. As noted by (Johnson, 2005) increasingly the macro business environment is becoming characterized with operational risks as the rate of unceratinty is increasing and markets are failing. The recent recession is an example of such risks existing in the external operating environment, since the recession which first started in 2007, several well known brands have collapsed while many are still suffering from the ruins of the recession. Indeed, many organisations operating in single markets and with limited product and market portfolios were exposed to market failures and increased risks in the last recession which consequently marked major decline in their share value and profit margin. Consequently, as a result of the threats associated with the risks of operating in one single market or product, MNCs are undetaking FDI abroad in other to diversify the risks in th eir primary market. Risk for a MNC can come in various faces. It could be operational risk, market risk, product risk, and several other. Undertaking FDI therefore offers the MNC the opportunity to mitigate such risks by diversifying into other markets or products through FDI. In the recent work of Davis (2009) he suggests that by undertaking foreign direct investment the MNC is able to lower production costs while also able to avoid trade restrictions. More so, the increasing labour cost and the cost of production in industrialised economies has given more impetus to MNCs to undertake FDI in a way that would allow them to lower production costs and enjoy cheaper labour costs (Barros and Cabral 2000). Ford motors is a typical example; Since the cost of production of Ford motors has increased in the UK, the company has decided to conduct its operations from other markets like Turkey for example where the cost of labour and production is relatively low. In addition to aiming to reduce labour and production costs, MNCs also undertake FDI to take up opportunity in profitable markets (Johnson, 2005) and this especially has to do with markets where there are better opportunities for the MNC to compete and make profit while at the same time increasing its brand v alue and identity (Ibid). Most of large oil and gas firms in the industrialised countries are typical examples of this development. Most big western oil firms such as Shell, Chevron, Mobil, BP, Texaco, etc have increased their presence in oil producing nations such as Russia, Angola, Brazil, Nigeria, Qatar, etc because the oil market in such countries require huge investment and infrastructure which they can undertake through FDI yet the market is such that there is little competition and therefore when they enter such markets they are able to use their market power and experience to increase their profit and become better at what they do. Shell like many other oil firms operating in the oil industry of many countries around the world have been able to avail itself of more opportunities in the general oil and gas market as well as other related industry through FDI than it can do in its primary and domestic markets. Similarly, the oil producing companies generally have been able to learn more about the intricacies of downstream and upstream operations as well as able to diversify into other related markets while at the same time able to contribute to the development of their host communities, although there are issues concerning corporate social responsibility and the environmental degradation caused by oil companies to their local communities, however the opportunistic and growth aspect of participating in other markets which FDI offers has been the main motive of MNCs. A similar development can be seen in other industries too, like the beverages industry for example where Coca cola is a prime example, Coca cola have been able to enter over 200 countries mainly to take advantage of the gaps and opportunities in those markets for the purpose of maximising its own profits while at the same time increasing its enhancing productivity and creating edge against its competition. The question to ask indeed is why MNCs are addicted to profit making and the taking up of opportunities everywhere there isIn response to such question: Kugler (2001) suggest that large firms over the past twenty years have been operating in a tougher and competitive world where their market power is challenged by small firms and the power of globalisation, it is this which gives them the motivation to invest abroad with the aim of challenging their competitors and taking to their advantage the benefit inherent in other markets to increase their profits and stay ahead of the game. Several MNCs also take opportunities abroad through FDI with the aim to vertically integrate their operations back and forward so as to sustain their operations and maintain healthy profits. It is at this juncture that the role of greed in their motive to undertake FDI can also be located. While little research exists in the literature on greed and why MNCs undertake FDI abroad, the 2007 global financial crisis has sparked academic debates about the role of greed in the operations and investment motives of MNCs abroad. In the work of Gultung (2009) for example looking at the case of some oil firms, financial institutions and industrialised apparel firms’, he talks about grievance, greed and opportunism in the way MNCs engage in FDI. The author explores the exploitation and the activities of many multinational corporations; How they exploit local firms, resources and labour in the foreign markets in which they operate. He cited the case of Shell in Nigeria and how the firm has over the year’s completely overtaken and forsaken local communities in which they exploit natural resources. As a consequence of such exploitation – Gultung suggests that many f armers have ceased operations while many fishermen are not able to feed their families and survive because their lands and firms have been taken over by oil activities and in many cases devastated and contaminated, yet Shell announce billions of dollars in its after profit tax every year. A similar example was cited of the apparel industry and the activities of company like Primark which has over the years undertaken foreign direct investment in India and many developing countries but to take advantage of labour and other local factors. Exploitation according to the author is defined as a â€Å"means through which one party gets much more out of a deal than the other-measured by the sum of internalities and externalities†. Sadly, most MNCs always get much more out the deals they strike than others. It is in this definition that it can be further argued that many MNCs as it is across many industries in the world mostly exploit other parties with whom they engage in FDI, theref ore it can be assumed that MNCs often undertake FDI in order to improve their profits with the motive to exploit others resources and take advantage of the opportunities in such markets. Finally, MNCs undertake FDI as a result of what Gorg and Strobl (2001) describe as the Product Life Cycle effect which occurs as a result of products reaching their maturity. For example a FDI takes place when product maturity hits and cost becomes an increasingly important consideration for the MNC. Conclusions This paper has explored the foreign investment activities of MNCs and the main reasons why they undertake FDI; it has presented various motives and factors underlying MNCs quest for investment abroad and as discussed above; one of such reasons is to increase profit, diversify risks and increase their competitiveness. The motive to undertake FDI to improve competitiveness has particularly become important for many MNCs given that in the current business environment, competition has become the order of the day and irrespective of size or location, small firms are able to compete in the same market with the multinationals. For the multinationals therefore, competitiveness has been the key and that includes aggressive expansion, constant innovation, acquisition and investing in markets abroad through various means. In view of the reasons mentioned in the paper, the reasons why MNCs undertake FDI can be said to be numerous and dependent on specific factors having to do with individual MNC s. For example some MNCs would make FDI decision to avail themselves of opportunities abroad, while other would take such decision to diversify risks, or vertically integrate their operations. References Barros. P.P. and L. Cabral (2000). Competing for Foreign Direct Investment., Review of International Economics, 8, 360-371. Ekholm, K. (2004). Multinational Enterprises and their Effect on Labour Markets, in Sodersten, B. (ed.), Globalization and the Welfare State, New York: Palgrave Macmillan. OECD (2007). Global Competition and the top ten investment destination, Paris: Organisation for Economic Cooperation and Development Gorg, H. and E. Strobl (2001) .Multinational Companies, Technology Spillovers, and Plant Survival: Evidence from Irish Manufacturing., EIJS Working Paper 131, Stockholm School of Economics. Glass, A. and Saggi, K. (2002). Multinational Firms and Technology Transfer, Scandinavian Journal of Economics, 104(3), 495-514. Galtung, J. (2009) Peace by peaceful means peace and conflict, development and civilisation. London, Sage publications International Monetary Fund (2002). FDI statistics. Johnson, A. (2005). Host Country Effects of Foreign Direct Investment: The Case of Developing and Transition Economies, Jonkoping, Singapore: Jonkoping International Business School Dissertation Series No. 031 Knickerbocker, F. T. (1973) Oligopolistic Reaction and Multinational Enterprise. Division of Research Graduate School of Business Administration, Harvard University: Cambridge, MA Nunnenkamp, P. (2002). Determinants of FDI in Developing Countries: Has Globalization Changed the Rules of the GameKiel, Germany: Kiel Institute for World Economics working paper No. 1122 Thomsen, S. (2000). Investment Patterns in a Longer-Term Perspective, OECD Working Paper on International Development, Number 2000/2 UNCTAD (2009). FDI statistics for multinational and Transnational’s, Geneva: United Nations Conference on Trade and Development Zarsky, L. (2002). Foreign Direct Investment: No Miracle Drug [online]. Ultimate Field Guide to the US Economy, Available: http://www.fguide.org/Bulletin/fdinodrug.htm How to cite An Evaluation of the reasons why a multinational enterprise undertakes FDI, Essay examples

Involvement of Auditing Enhancement †Free Samples to Students

Question: Discuss about the Involvement of Auditing Enhancement. Answer: Introduction The exposure drafts are considered in this case which simply illustrates the new accounting standards which are depicted to be opened for the public comments and also the enhancement of the study is being made by showing the appropriate setting of the organisation. The settings of the organisation are made on the IASB, AASB and the FASB standards that are made for showing the exposure processes. As per the article" Auditing the Auditors," the reputation of the KPMG is being shown with firing the five partners of the company on the basis of the audit made. This is depicted as the unethical conduct which had been made to the five partners(Board, 2017). As per the policies and the practices continued by the firm, the Auditor is showing the involvement of the auditing enhancement by showing the mitigation of the factors regarding the governing bodies and also the auditors are a part responsible for the unethical step taken by the company. The step which is being illustrated as the form of the strategic and also the consideration is being depicted by showing the enhancement of the structure. The integrity of the unethical conduct itself shows the inappropriate work which is also explained as the part of the study and also the integrity of the unethical conduct affects the auditing process by firing the employees from the organization(Alexander, Nobes, Ullathorne, 2016). This wil l lead to the unethical conduct which is being made by the compliance of the auditing rules and the regulations. The inappropriate conduct is being shown by depicting the study, and also it is identified to be showing the negative impact on the KPMG Company. The reputation of the company KPMG which is one of the Big Four bookkeeping organizations, took another hit for the current week, when it terminated five partners, including the leader of the audit practice in the United States, for the "deceptive conduct." The firings went ahead top of existing inquiries regarding the company's arrangements and practices: KPMG has for quite a long time been the evaluator of embarrassment scarred Wells Fargo and was the long-lasting reviewer of issue tormented FIFA, the world soccer administering body(Appannaiah, Reddy, Putty, 2010). After a seemingly endless amount of time, KPMG examiners saw no wickedness in either organization. The most recent rupture extends questions about KPMG and, all the while brings up principal issues about the honesty of all open organization reviews. The accomplices and one KPMG representative were terminated on the grounds that they neglected to provide details regarding leaked information they had got about assessments arranged by the regulator of the firms, the Public Company Accounting Oversight Board, which was built up after the accounting scandals at the Enron(Beechy, Conrod, 2008). The regulators analyze a choice of a complete audit of the accounting firm. The fact of the matter is to gauge consistence with the auditing rules, and in that way give financial specialists a benchmark for evaluating the nature of a firm's audits. Thus, the leaked data, which originated from a representative at the regulator who no longer works there, empowered the accomplices to know ahead of time which reviews, would be assessed. Progress ahead of time would allow them to ensure that any focu sed on reviews were squeaky clean. The moral issues that arises in accounting at the individual representative level is the misappropriation of the financial assets(Britton, Waterston, 2013). The misappropriation of the assets is referred to the inappropriate utilization of the assets that affects the operations of the organization.Also called taking or theft, misappropriation of advantages can happen at almost any level of the organization and to about any degree. Fake money related detailing, exposure infringement are mistakes of moral. Deliberately recording the exchanges in a way that is not appropriate as perthe accounting rules is viewed as fake finance related detailing, the inability to reveal data to speculators that could change the choices about investing the resources into the organization could be viewed as false monetary announcing. Organization administrators must walk a scarcely discernible difference; it is authoritative for administration to ensure the organizatio n's restrictive information(Helbk, Lindset, McLellan, 2010). Nonetheless, if this data determines with a critical occasion, it cannot be the moral to keep this information from the speculators.The fair value representation of the financial statements is very much important for the organizations. KPMG says authorities found the leak information in late February and instantly detailed it to the controller and the Securities and Exchange Commission. KPMG likewise recognized that the leaked data "conceivably" undermined the uprightness of the administrative procedure. The contributing open needs a firm answer with reference to when the break happened and which assessments, assuming any, were influenced (Horngren, 2014). KPMG had justifiable reason motivation to dread its controller. The company's investigation comes about for 2014 and 2015 were appalling. In 2014, its lack rate was 54 percent, which implies that examiners discovered more mixed up and inconsistent reviews than great ones. In 2015, the insufficiency rate was 38 percent, which was a change, yet at the same time more awful than that of the other three major accounting firms. Obviously, the best possible reaction to dreading an awful review is to enhance execution, not surrender to the bait of undermining the test. K PMG had no real option except to terminate the accomplices and the worker. As far as concerns its, the controller now must choose the option to give people in general a full picture of what happened, why and when and which reviews might be influenced(Jones, 2013). Great reviews are the base of reasonable and straightforward financial markets. They have demonstrated slippery KPMG company is at the base of the Big Four firm, however different firms likewise have exasperatingly high insufficiency rates. The accounting boardof public company should help settle that and now it, as well, must find a way to guarantee its own particular respectability and, in this manner, the honesty of business sectors. The accounting firm KPMG has let go six workers, including the leader of its accounting department in the United States, after it had learned they were given uncalled for notices in front of arranged review investigations by its controller, the public Company Accounting Oversight Board. KPMG said that a person who had joined the firm from the Public Company Accounting Oversight Board had received personal data from a representative of the oversight board and imparted it to others at KPMG(Kieso, 2007). The fair value representation of the financial statements is very much important for the organizations. The accounting firm said it had taken in of the matter from a shriek blower in February. An examination by an outside law office discovered that these people either had uncalled for notices of the audit to be assessed by the oversight load up, which polices evaluators in the United States or knew that others had gotten such notices and had neglected to legitimately report the circumst ance in a convenient way. The accounting firm said that it had terminated six representatives in its audit practice, five of them accomplices, for violating its code of accepted rules. Those people included Scott Marcello, the leader of the United States audit practice. Punishments for violations of accounting morals rules and regulations have expanded significantly(Nobes, Parker, 2016). The enactment takes into account unforgiving violations for controlling financial records, devastating data, interfering with an examination and gives lawful insurance to whistle blowers. What's more, CEOs of the company can be held criminally for distorting their organization. On the off chance that accounting morals weren't a vital thought some time , the higher stakes given by the Sarbanes-Oxley Act had unquestionably raised the shares. The organization said on Tuesday that the Frank Casal had been designated as the vice chairman for audit department, succeeding Mr. Marcello. KPMG likewise named Jackie Daylor as a national overseeing accomplice for review quality and expert practice. The declaration is another potential hit to KPMG's reputation after inquiries have been brought up as of late concerning why it neglected to reveal illegal sales practices at the Wells Fargo, representing the worldwide body of soccer(Parrino, 2015). Elizabeth Warren, the Democrat of Massachusetts, cruelly scrutinized the firm in a letter a year ago, saying its inability to reveal shameful movement at Wells Fargo "brings up issues about the nature of your audits." The KPMG said it instantly detailed the circumstance with the public company accounting board to the oversight board and the Securities and Exchange Commission and enlisted an outside law office to explore the matter. It keeps on coordinating with controllers in the matter(Powers, Needles, 2012). This issue does not influence any of the association's review sentiments or any customer's budgetary articulations, the organization said. "KPMG has zero resilience for such deceptive conduct," Lynne Doughtie, the KPMG administrator, and CEO, said in the news. "Quality and respectability are the foundations of everything we do, and that incorporates working with the most extreme regard and respect for the administrative procedure." "KPMG is focused on the most elevated norms o f polished skill, trustworthiness, and quality, and we are devoted to the capital markets we serve," she included. "We are finding a way to guarantee that such a circumstance ought not to occur once more." The organization is an accumulation of autonomous firms in the United States and different nations working under a similar brand name. Those organizations incorporate 189,000 representatives in 152 nations. Issues in the standard The FASB Board has issued the proposed update as the significant part of the simplification inventiveness. The main objective of the standard is to determine, analyse and improve the aspects of the generally accepted accounting principles. Thus, the Board has issued the proposed Update as a feature of its simplification inventiveness. The goal of the Simplification inventiveness is to distinguish, assess, and enhance ranges of the generally accepted accounting principles (GAAP) for which the cost and multifaceted nature can be diminished while keeping up or enhancing the value of the data given to users of the financial reports (Rahman, 2015). The stakeholders have suggested the Board that the direction on identifying if obligation ought to be classified noncurrent or current in the classified balance sheet is unpredictable. Debt incorporates direction on different scope, fact and debt transactions. The alterations in this proposed Update would replace the present, certainty particul ar direction with all-encompassing, cohesive principles. The Board is expecting that the proposed changes would diminish the cost and difficulty for auditors while deciding if obligation ought to be named noncurrent or current in the financial position statement while giving more reliable and straightforward data users of the financial statement. The debt arrangement provides the lender with the right to receive the consideration and the borrower with the obligations to pay the consideration on fixed or determinable or demand dates (Scott, 2015). The changes in this proposed Update would keep on requiring an element to characterize an obligation course of action as a noncurrent liability when there has been an obligation agreement infringement if the element gets a waiver of that infringement that meets certain conditions before the financial report are issued. That classification is an exemption to the rule above, however, is like current GAAP. The special case would apply to all waivers with the exception of those that outcome in a debt restructuring or those that are represented as an obligation extinguishment, Debt Modifications, and Extinguishments. The Board likewise chose to hold and illuminate the likelihood appraisal identified with resulting covenant violations. The proposed corrections likewise would require an element to independently show in a critical position sheet liability that is delegated noncurrent accordingly. The changes in this proposed update could move characterization of certain obligation courses of action between current liabilities and non-current liabilities as contrasted and current direction (Spiceland, 2010). The current guidance would be succeeded by a rule that may vary from the existing rules that the proposed revisions would dispense with. A standout amongst the most noteworthy changes to the characterization would be for illustration, obligation that is renegotiated on a long haul premise after the asset report date. Current direction requires obligation that is renegotiated on a long haul premise to be delegated a noncurrent obligation. The revisions in this proposed Update would preclude element from considering a consequent renegotiating while deciding the order of obligation as of the accounting report date (Weil, 2017). A resulting renegotiating gives confirm about conditions that did not exist at the date of the financial report however emerged after that date. Similarly, an ensuing renegotiating of here and now obligation with the issuance of value securities will no longer influence the classification of obligation as of the accounting report date under the proposed revisions . The obligation courses of action would be classified as current liabilities. Another case of an adjustment in arrangement comes about because of obligation that contains subjective increasing subjective statements or material antagonistic change conditions. Current GAAP obliges elements to consider the probability of increasing speed of the due date while deciding noncurrent or current classification. The revisions in this proposed update would expel that likelihood evaluation. Rather, the subjective speeding up clause would affect the characterization of obligation just when it is activated. In the first set of annual and interim financial statements, an organization will apply the amendments in the proposed update on the prospective basis to the debt that exists after and at that date. The early adoption of the given amendments will be permitted. The board invites organizations and individuals to comment on all the matters in the proposed update. Detailed examination of disagreement between the commenting partners The FASB standard puts emphasize on the financial statements preparation need some changes. The balance sheet of most organizations should show separate classification of current liabilities and current assets permitting to determine the working capital. In this proposed update, the amendments are related to the separate classifications of non-current debt and current debt within the balance sheet. The organization that does not present the classified balance sheet will be not be affected by the proposed amendments. The organizations are accepting the new accounting rule introduced by the FASB standard. The organizations are not opposing the new amendment. The amendments in the proposed update will be applied to all the organization that enters into the debt arrangement (Welch, 2014). The debt arrangement provides the lender with the contractual right to receive the consideration and the borrower with the contractual obligations to pay the consideration on fixed or determinable or de mand dates. The proposed corrections likewise would require an element to independently show in a critical position sheet liability that is delegated noncurrent accordingly. The amendments are also applied to the convertible debt instruments and classified liability redeemable financial instruments. Analyzing the comment letter The proposed amendments by the FASB standard introduced principle to determine whether the debt arrangement should be classified as the non-current liability of the balance sheet. The principle is that the organization should classify the instrument as the non-current. In this proposed update, the amendments will require than the organization should classify the debt arrangement as the noncurrent liability. The comment letter of KPMG states that the company supports the objective of the board to determine, analyze and improve the GAAP areas in which the complexity and cost can be decreased while improving or maintaining the usefulness of the data and information provided to the financial statements users. The company believes that the board should explain clearly the changes in underlying the principle that has been used in GAAP. The proposal states that the board will replace the guidance with the cohesive, overarching principle. The guidance in the current GAAP is based on the cohe sive underlying principles (Burns, 2014). The principle in the current GAAP is particularly based on the current liabilities defection and informs the financial statement users whether the organization expects to use the current assets for satisfying the existing debt obligations. The board proposes to replace the principle with the one under which the classification will be based on contractual terms and conditions of debt arrangement. The organizations have to follow the accounting standards while preparing their financial statements. The comment letter of Deloitte shows that the company is supporting the efforts of the board under the simplification initiative in order to improve the aspects of the GAAP which is unnecessarily costly and complex. The proposed ASU is the efforts of the board by establishing the debt classification principles that is focused on the terms and conditions of the debt arrangement as of the data of balance sheet. The principle will introduce in the U.S GAAP a coherent and consistent set of requirements to classify debt as non-current or current. The company supports the proposal of the board to establish the principle of the debt classification which is based on the terms and conditions of the arrangement as of the balance sheet da te. It is expected that the principle would be easier to apply and explaining the existing requirements of the debt requirements in GAAP. However, the company recommends that to decrease the risk of misapplication or diversity in practice (Parker, 2007). The proposed amendments will require that organizations to classify as the current liabilities a debt arrangement that is the short term debts but it is refinanced as the long-term debts. The fair value representation of the financial statements is very much important for the organizations. Conclusion The accounting rules and regulations need to be followed by the companies. Debt incorporates direction on different scope, fact and debt transactions. The alterations in this proposed Update would replace the present, certainty particular direction with all-encompassing, cohesive principles. The financial statements provide significant information to the users of the financial statements. Thus, the board would modify the description proposes classification in the proposed ASC. The debt will be classified as the noncurrent which is to be settled more than the one year. The financial statements of the companies provide significant information to the users of the financial statements. References Alexander, D., Nobes, C., Ullathorne, A. (2016).Financial accounting. Harlow, England: Pearson. Appannaiah, H., Reddy, P., Putty, R. (2010).Financial accounting. Mumbai [India]: Himalaya Pub. House. Beechy, T., Conrod, J. (2008).Intermediate accounting. Toronto: McGraw-Hill Ryerson. Board, T. (2017).Opinion | Auditing the Auditors.Nytimes.com. 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