It's the Law ... or is it Essay Example | Topics and Well Written Essays - 500 words

It's the Law ... or is it - Essay Example There exist set rules and laws that are useful in curbing the misuse of other people’s work found in the web. The paper will briefly explore copyright laws governing internet information and the penalties for contravening them. There are numerous laws and regulations governing the use of internet information, but the paper will particularly look at copyright laws. In 1998, the then United States president Bill Clinton signed the digital millennium copyright Act (Scott). The act provides guidelines that should be adhered to by the users of the internet when accessing other people’s work that may include, music and intellectual work among others. Further, Scott documents that some of the copyright laws and regulations include: fair use, unauthorized access and copying, file sharing and liability. Let us examine liability. As stipulated in the copyright Act, one is not allowed to produce and distribute unauthorized copies from the internet. In the event that producti on is to be done, consent of the producer is supposed to be sought. Failure to do the same amounts to a breach of the law and the offender is liable for the legal consequences. When the breach occurs, the plaintiff can sue the actual offender or the internet service provider in a court of law. The complainant is also at liberty to seek an injunction from the court (Lesley). The purpose of the injunction is to prevent the offender from continual violation of the copyright rights. Lesley further documents that the copyright holder has the right to seek compensation from the offender in the court in form of monetary or statutory damages. The court of law is charged with the responsibility of establishing the guilt or innocence of the accused. If one is found guilty of violation the copyright act, he or she must take criminal responsibility.

Realm Human as Person Essay Example | Topics and Well Written Essays - 1250 words

Realm Human as Person - Essay Example The research will prove that personality is subject to biology and spirituality combined. Accordingly, Christian personalism has a philosophical difference inspired by Blystone nurtures a post-modernist thought. However, it is clear from the research that personalism has not been subject to religion. Blystone attempts to define a common ground for personalism as a philosophy, in an anthropological manner rather than theological terms. The basis of a definition of a spirit is the violence of heroic self-overcoming in the creative act, with founding members who would soon work out in the precise social-economic principles. According to Blystone, there is an on-going dialogue between Christian, Jews and Muslim as long as other interreligious dialogue. Essentially, the practice of these different dialogues needs a further theoretical work into both theological and Jewish-Christian dialogue as well as theologia religionum. Based on religion, humankind is engaged to a wider dialogue of the heart metrics. According to Blystone, studying religion in that context is monumentally and even indispensably important anthropologically. For that reason, religion becomes a human foundation. Bylstone further notes that the religious ethical calling of humankind is to create â€Å"personae and their persons, which creates a community of persons in the systems of personhood 4. In simpler words, the personalism that pervades the document is a transposition of natural law into philosophical anthropology. The transportation marks a renewal within the traditional of natural law itself, hence enabling reasoning about the human person as new key. According to the Blystone, personalism is a perspective that places anthropology at the centre, the human person, considered in his or her entirety in what is unique to the individual human person and the common to the human conditions, which then promotes

Configure Basic Security Controls on a Fedora Linux Server Essay Example for Free

Configure Basic Security Controls on a Fedora Linux Server Essay 1. What is GRUB and why is it important to lock it down? a. GRUB is a bootloader. It is very important to lock this down because of the high access to the kernel and how important aspects can be modified on the fly at any time during the boot up process because it is unprotected by password. 2. Discuss the purpose of granting â€Å"sudo† access. Why is it a good idea not to log in as a root user? a. It gives the person access using the sudo access, superuser capability and allows them to run programs with the security privileges of such. This can cause instability of the kernel or in the hands of a skilled individual compromise the system. 3. If a file is set with the immutable flag, what security controls does this provide for the file? a. Immutable permissions designation prevents a file from being changed, even by someone with root level access. 4. Why do you get a blank window when trying to edit grub with â€Å"vi†? a. You need the correct permissions, or the file has been moved so it is loading nothing. 5. How do you know when you log in as root? a. Terminal prompt goes from [[emailprotected] ~]$ to [[emailprotected] username]# 6. What command do you need to use to install vim? a. apt-get install vim 7. What is iptables and how does this help harden the Fedora Linux Server? a. Iptables is like a rule set or chain of rules. You can use it to basically build a firewall. 8. Why is it important to configure and enable iptables on your Fedora Linux Server? a. To help secure a Linux server that is connected to the internet. 9. What is the difference between the commands ‘cat’ and ‘less’? a. The ‘cat’ command will list everything in a file and it has the capability to merge files. Less will view the contents of a file one page at a time waiting for the user to continue. 10. What is the difference between ‘setfacl’ and ‘getfacl’? How can â€Å"setfacl† help achieve security hardening? a. setfacl set file access control lists. getfacl get file access control lists. Setfacl is used to set up ACL (Access Control Lists). The usage of ACLs offers mechanisms for setting up per-user-permissions of single filesystem objects and provides fine-grained definitions of access restrictions.

The Construction Of A House Or Buildings Construction Essay

The Construction Of A House Or Buildings Construction Essay In this modern world an builders faces lots of challenges in the construction of a house or buildings to compete the world in the form that how to make a modern house or building which is environment friendly, energy saving and low cost etc, such sort of problems putting pressure on builders now a days. Because of the rising cost of the material which is used in traditional construction methods which are unlikely to meet the demands for future developments. Thats why more and more builders or designer are now understand the benefits of the development of modern material which are gradually used in the buildings now a days. Housing associations are now encouraging the housing corporation to use the modern ways of construction known as modern methods of construction when building new developments. This policy is a direct result of the Governments response to a number of drivers that have resulted in what it perceives to be a crisis in housing supply. In areas of growth, house construction in the private sector has tended to focus on the production of traditional houses either semi-separate family homes or larger separate executive homes. These private sector dwellings are beyond the reach of most first time buyers, particularly key-workers in comparatively low-paid jobs in the public sector. The Government is looking to housing associations to give dwellings for those who cant afford to buy the house. The Housing Corporation is the key agency regulating The Housing Corporation is the key agency regulating delivery of housing in the social housing sector. They assist with delivery of policy via grants awarded through the Approved Development Programme (ADP). A proportion of the ADP has been ring-fenced (The Challenge Fund) for the delivery of new homes quickly and cost effectively, in areas of high demand as well as stimulating a step change in supply by encouraging innovative forms of construction. In the face of the support from political and regulatory authorities to make greater use of modern methods, lots of stakeholders are still unsure about modern methods of construction for some of reasons. In the case of housing associations there is doubt about whether or not modern methods are able to deliver energy efficient homes at good reasonable prices. This pamphlet aims to demonstrate that homes that cross the requirements of building regulations in sense of their material efficiency can be built cost-effectively. SIPS Structural insulated composite panels are one of the most satisfying technologies in the construction industry. Started in the years of 1940s when the new sandwich design concept was generated, where there were two wooden materials and a different element between them generating maximum strength to the structure. Design As mentioned earlier, the SIP has an insulated structure between two wooden boards. This most commonly used materials are expanded polystyrene (EPS), extruded polystyrene (XPS) or rigid polyurethane foam. Figure : STRUCTURAL INSULATED COMPOSITE PANELS Figure : STRUCTURAL INSULATED PANELSOther materials can also be used for example, steel, aluminium, stainless steel, fibre-reinforced plastic, and magnesium oxide.http://www.wbs-ltd.co.uk/images/photos/newbuild_mmc_sips1a.gif Advantages the structure is more Tougher and stronger due to the sandwich pattern of the material More insulated than any of the materials Less operating cost and can be used almost everywhere for eg. Roof, floor, walls etc. Drawbacks The manufacturing and the production can take some time Expensive manufacturing cost Have to prevent the composite from moister and keep it ventilated The material creeps over time Figure : VOLUMETRIC CONSTRUCTIONVOLUMETRIC CONSTRUCTIONhttp://www.scrapbookscrapbook.com/DAC-ART/images/hoodsinside.jpg The volumetric construction is also, known as the modular construction. This kind of construction is mostly used at places where the employer cannot afford waste time and material for e.g. a busy road, a hospital etc. Design The construction components are manufactured and processed and are stacked onto prepared foundations to form dwelling. The materials used to make the components include light gauge steel frame, timber frame, concrete and composites. Advantages Saves time and also the labour cost. Can reduce the waste significantly generated during construction and also comparatively the least amongst other construction methods It is the most efficient when using identical units as it is the same common production line used. Improved quality compared to the other construction methods Disadvantages Setting up a manufacturing and production line could be a major concern issue when considering cost Transporting could be expensive depending upon the size of components Also, installations and other factors would affect the construction workers if the components are heavy or complex structure and have to be perfectly installed STEEL FRAME CONSTRUCTION The steel frame construction is usually used for constructing bigger structures like building, sky scrapers etc due to its durability and toughness. The SFC is one of the most efficient construction methods which use steel beams, T shaped and I shaped beams as to resist the stresses. Design Figure : STEEL FRAME CONSTRUCTIONOakridge, a development of 299 dwellings for Sentinel Housing Group, utilised light gauge steel frame panellised construction for the first two phases. The homes, constructed from steel frames manufactured by Ayrshire Steel Framing, share standardised layouts visual variety was achieved externally by incorporating a variety of physical features (such as bays, dormers and balconies) along with a variety of finishes (different coloured renders, brick and timber cladding). Dormers and balconies were also prefabricated in glass reinforced plastic (GRP).http://www.airport-technology.com/projects/raleighdurham/images/7-frame-construction.jpg 2. Advantages of Steel Frame Construction: They can build very high and large They are light weight and strong They are easy to fix or assemble They are accurate and predictable 3. Disadvantages of Steel Frame Construction: Steel is an expensive material Frames are unstable These types of frames needs fire protection They needs separate skin TIMBER FRAME CONSTRUCTION Figure : TIMBER FRAME CONSTRUCTIONTimber frame is a modern method of construction that offers an important high-quality solution to the many housing and construction challenges facing the UK.As one of the leading modern methods of construction, timber frame has grown consistently year on year. Its regarded as a means of achieving good quality, reducing time spent on-site, increasing safety and overcoming skills shortages in the industry, and will play a very important role in the formation of homes in sustainable communities by 2016.http://www.lizmale.co.uk/uploadFiles/mciFiles/Timber_frame_construction1.jpg Design Wood is the only renewable commercial building material and as a way of construction is effectively carbon neutral. When you use timber frame youre actively helping to reduce the belongings of global warming. Further improved by its low embodied energy and excellent insulation properties, it means happy customers with lower heating bills and a good future for the planet. Advantages of Timber Frame Construction In timber frame construction needs small amount of labour. It can be seen that the benefit in terms of time saving on site manifests itself as a saving in construction risk. Timber frame construction is environment friendly but the environmental benefits of timber frame construction are reduced when timber is imported from sources outside non local and requiring substantial fuel consumption in transportation. Disadvantages of Timber Frame Construction Apparently problems with timber frame construction in the housing industry from each end users and local establishment would include a perceived huge risk of fire, problem of sound lessening in a timber structure and the impact such a structure might have on the security of the end user. Basingstoke timber frame construction site fire Figure : CONSTRUCTION FIRE Timber frames are designed and manufactured to tight tolerance and require correct setting and other adjacent construction such as chimneys, rising walls and block construction. As a result, these works need to be set out with a good degree of accuracy. Panels should be stacked on a flat surface so that warping or buckling does not happen. Proper on-site practices and skill of deliveries can address this matter. Where housing is proposed in areas at threat of flooding, the planned construction methods undertaken need to be reviewed in order to measure the possible risks or implications should flooding occur. BRICK and MORTAR CONSTRUCTION Figure : BRICK AND MORTAR CONSTRUCTIONBrick is a timeless, classic building material. The Chinese, and Egyptians understood the value of this simplest of rectangular solids over three thousand years ago. Brick structures still stand that were already ancient at the time of Christ. Invented in antiquity, brick remains the one exterior building material with a human scale, rich variegated colours, and flexibility of use. Modern man has crafted building materials from concrete, plastic, glass and steel, but none approach this unique elementary product. http://www.chemexfranchises.co.uk/anglesey/images/construction.jpg Design The brick making process is unchanged from primitive times in its necessary elements. A modern brick plant carries out the same functions that a Babylonian craftsman once performed. That craftsman mortar and sand, mixed the two with water to form a flexible clay mass or clot, formed the clot in a wooden mould, dried the green, unfired brick in the sun, baked it to nearly 2000 degrees, and cooled the now permanent brick, which then went to the mason to be laid in mortar to become part of a temple, Great Wall, or simple home. Figure : BRICK AND MORTAR CONSTRUCTIONAdvantages of Brick and Mortar constructionhttp://www.bandwbuilders.co.uk/ImageHandler.ashx?UploadedFile=trueimage=~/App_Data/UserImages/Image/11125%20100910%20001.jpg The bricks walls protects the houses from noises thats comes from outside. Bricks are beautiful when we go to the residential area we can compare the beauty of brick structure to the other structural work like steel, wood etc. Brick structures are easy to maintain and there is nearly no cost to maintain the exterior of an all brick home. Bricks will not burn and in those disastrous situations where a fire does occur it will certainly not fuel the situation. Disadvantages of Brick and MORTOAR CONSTRUCTION The one main disadvantage of bricks and mortar is the high cost of both material and labour. Bricks and mortar construction is much sturdier than wooden homes because of the thickness, hardness and weight of the materials used to build the home bricks and mortar construction is very old traditional construction. ANALYSES AND EVALUATION For the particular construction, the author supposes that the steel frame construction would be the best possible way to build the structure. As the main concern is time efficiency it would be quicker and easier to install the steel frame structure and to complete the work on time. Talking in terms of cost efficiency and reliability, in the steel frame structure has to be compromised in one of the two factors. The demand of this kind of structure is to be tough and reliable and therefore have to spend some money on the manufacturing of the steel frames and also keeping the quality into consideration. The manufacturing cost and the transportation cost would be the only concern issues for the company where as the labour cost would be comparatively less. As the steel frames could be easily assembled and fixed. Architecting on the building would be easier and also it would give a freedom to the architect to design his particular construction as the steel frame could be manufactures in almost any possible way. Method Cost Time efficiency Structural reliability Environmental friendly sustainability SIP Expensive manufacturing cost and nominal labour cost Moderate Good Moderate Best Volumetric construction Expensive manufacturing and labour cost Good Moderate Moderate Less Timber frame construction Nominal cost Less Moderate Less Good Brick and Mortar construction Least amongst all the methods Least Good Less Less Steel Frame Construction Expensive manufacturing cost but cheap labour cost Best Best Best Good SCHEDULING AND PROCEDURES Designing The plan starts by taking the structure into consideration. Keeping the limitations, constrains and the difficulties in mind. The Architecting Part takes place after the cost estimation and the legislations have been considered. The designing process is a time taking process as it helps in knowing all most everything which is to be used in the construction and the quantity of materials which have to be ordered or manufactured. Foundation The execution starts by evacuating the area and excavating to make a foundation for the building. The foundations build is made up of cement, which is a common process for all the construction. During the initial construction, the skeleton of the structure is build by the steel frame construction method. The steel frame construction helps in giving the toughness to the structure and also, the freedom to building almost any kind of structural shape. The concern issues for steel frame structure are as follows: Time delay in manufacturing and transportation Waste parts could affect the expected budget Construction The method suitable with the steel frame structure is the SIPS. The Structural insulated panels can be used in making roofs, floor and also the walls. The reliability and the strength of the combination of the structures would improve the life and the toughness of the building. Concern issues for this kind of construction method are: Weather: it could be a serious issue and could delay the work plan, therefore the construction plan has to be well organised and executed. Labour cost : these kind of construction methods have nominal labour cost but since it is a combination of two types of construction methods, the labour demand could be higher Lastly, legislation: the legislations are the most important factor of concern for the employer and as well as the management. Finishing The finishing consists of the final construction steps like greasing, oiling, painting etc. REFERENCE Figure 1: modern method of construction ; http://www.tommypopeconstruction.com/Building-Construction.htm Date: 3rd may 2011 time: 4:00pm Figure 2 : Modern building; Shift Housing by AquiliAlberg Date: 3rd may 2011 time: 4:20 Figure 3 : http://www.thermalconstruction.co.uk/about-us-1 DATE: 9th may 2011 11:41 Figure 4 : SIPS http://www.wbs-ltd.co.uk/newbuild_mmc_sips.htm Date: 9th may 2011 12:00 Figure 5: VOLUMETRIC CONSTRUCTION http://www.scrapbookscrapbook.com/DAC-ART/dac-artblocks.html Date: 10th may 2011 1:12pm Figure 6: STEEL FRAME CONSTRUCTION http://www.airport-technology.com/projects/raleighdurham/raleighdurham7.html Date: 10th may 2011 1:30pm Figure 7 : TIMBER FRAME CONSTRUCTION http://www.lizmale.co.uk/clients-case-studies/uktfa Date: 10th may 2011 1:35pm Figure 8: CONSTRUCTION FIRE http://faast.co.uk/2010/09/15/basingstoke-timber-frame-frame-fire-prompts-construction-fire-safety-warnings/ Date: 11th may 2011 2:00pm Figure 9 : BRICK AND MORTAR CONSTRUCTION http://www.chemexfranchises.co.uk/anglesey/construction.html Date: 11th may 2011 2:10pm Figure : BRICK AND MORTAR CONSTRUCTION http://www.bandwbuilders.co.uk/blog Date: 11th may 2011 4:00

The Underlying Message Essays -- essays research papers

The Underlying Message Zen and the Art of Motorcycle Maintenance is not specifically about orthodox Zen Buddhist practice nor does if specifically teaches how to repair a motorcycle. It does, however, dig into the inner structure of the thought process to form a foundation to support any form of logic. This is accomplished by means of a trek through the author’s mind as he recounts his past in attempt to rediscover who he once was. As the author comes to term with his duality, the reader is conditioned to understand the author’s philosophical ideas, which are the underlying beams of his value system. Pirsig presents his message through lectures to the reader. These lectures are comprised of history, philosophy, and common sense. The author purposely uses the term chautauqua to define these lectures. He describes a chautauqua as â€Å"an old-time series of popular talks intended to edify and entertain, improve the mind and bring culture and enlightenment to the ears and thoughts of the hearer† (p.17). Throughout the story Pirsig breaks from his incomplete lecture to focus on the current situation of his motorcycle trip. As the story continues, some nonspecific aspect triggers the author’s mind to restart a new lecture, and eventually, they all tie together. The most common reoccurring lecture themes include the purpose of institutions, the search for quality and the need of balance between two extremes. These are interesting highlights of the book, but it is not the author’s intention to convert his audience to his value system. Rather, it is Pirsig’s g oal to present how he created his value system as an example to show how to tackle such a complex and abstract subject. In fact, the reoccurring themes themselves are complex and abstract subjects, and Pirsig breaks each of them apart to analyze the system, just how one would tear down an engine to understand how a motorcycle functions. Institutions and their role obviously weighed heavily upon the author’s mind. He explored the system from the whole down to its most minute parts. First, he chose one type of institution, education. From past experience as a student and professor, Pirsig naturally had formed an opinion on the matter. He observed that students are taught to imitate, and the result is a drone modeled after the instructor. This is done to please the instructor so a higher grade can be received. The n... ...y harm him. The narrator did not understand who he was until he saw that Chris finally realized it. â€Å"I knew it† (p. 370). Phaedrus let go and submitted in the mental hospital for the love of his son. The narrator was abandoning Chris for the same reason. It was not until both identities had racked themselves apart that they could be brought back together, and the quality of their lives change. Suddenly the introduction seems fitting.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"And what is good, Phaedrus,   Ã‚  Ã‚  Ã‚  Ã‚  And what is not good–   Ã‚  Ã‚  Ã‚  Ã‚  Need we ask anyone to tell us these thing?† Pirsig did not want to mold our minds. Instead, he showed us the way. He taught his audience how to think and to learn. That was the author’s hidden intent all along, and if he were to just come out and say it, it would lose its meaning. The reader has to tear himself apart to find out what makes him tick. What is the driving force that is the basis for his actions? What does the reader hold important and why? What values should he possess and when should they hold? Once we do understand ourselves, we can understand our surroundings, and our quality of life increases. The Underlying Message Essays -- essays research papers The Underlying Message Zen and the Art of Motorcycle Maintenance is not specifically about orthodox Zen Buddhist practice nor does if specifically teaches how to repair a motorcycle. It does, however, dig into the inner structure of the thought process to form a foundation to support any form of logic. This is accomplished by means of a trek through the author’s mind as he recounts his past in attempt to rediscover who he once was. As the author comes to term with his duality, the reader is conditioned to understand the author’s philosophical ideas, which are the underlying beams of his value system. Pirsig presents his message through lectures to the reader. These lectures are comprised of history, philosophy, and common sense. The author purposely uses the term chautauqua to define these lectures. He describes a chautauqua as â€Å"an old-time series of popular talks intended to edify and entertain, improve the mind and bring culture and enlightenment to the ears and thoughts of the hearer† (p.17). Throughout the story Pirsig breaks from his incomplete lecture to focus on the current situation of his motorcycle trip. As the story continues, some nonspecific aspect triggers the author’s mind to restart a new lecture, and eventually, they all tie together. The most common reoccurring lecture themes include the purpose of institutions, the search for quality and the need of balance between two extremes. These are interesting highlights of the book, but it is not the author’s intention to convert his audience to his value system. Rather, it is Pirsig’s g oal to present how he created his value system as an example to show how to tackle such a complex and abstract subject. In fact, the reoccurring themes themselves are complex and abstract subjects, and Pirsig breaks each of them apart to analyze the system, just how one would tear down an engine to understand how a motorcycle functions. Institutions and their role obviously weighed heavily upon the author’s mind. He explored the system from the whole down to its most minute parts. First, he chose one type of institution, education. From past experience as a student and professor, Pirsig naturally had formed an opinion on the matter. He observed that students are taught to imitate, and the result is a drone modeled after the instructor. This is done to please the instructor so a higher grade can be received. The n... ...y harm him. The narrator did not understand who he was until he saw that Chris finally realized it. â€Å"I knew it† (p. 370). Phaedrus let go and submitted in the mental hospital for the love of his son. The narrator was abandoning Chris for the same reason. It was not until both identities had racked themselves apart that they could be brought back together, and the quality of their lives change. Suddenly the introduction seems fitting.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"And what is good, Phaedrus,   Ã‚  Ã‚  Ã‚  Ã‚  And what is not good–   Ã‚  Ã‚  Ã‚  Ã‚  Need we ask anyone to tell us these thing?† Pirsig did not want to mold our minds. Instead, he showed us the way. He taught his audience how to think and to learn. That was the author’s hidden intent all along, and if he were to just come out and say it, it would lose its meaning. The reader has to tear himself apart to find out what makes him tick. What is the driving force that is the basis for his actions? What does the reader hold important and why? What values should he possess and when should they hold? Once we do understand ourselves, we can understand our surroundings, and our quality of life increases.

Relationship between Greeks and Gods in Hippolytus :: Hippolytus Essays

Relationship between Greeks and Gods in Hippolytus  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      The play Hippolytus by the Greek playwright Euripides is one which explores classical Greek religion.   Throughout the play, the influence of the gods on the actions of the characters is evident, especially when Aphrodite affects the actions of Phaedra.   Also central to the plot is the god-god interactions between Artemis and Aphrodite.   In this essay, I hope to provide answers to how the actions of Hippolytus and Phaedra relate to the gods, whether or not the characters concern themselves with the reaction of the gods to their behavior, what the characters expect from the gods, how the gods treat the humans, and whether or not the gods gain anything from making the humans suffer.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Before we can discuss the play, however, a few terms need to be defined.   Most important would be the nature of the gods.   They have divine powers, but what exactly makes the Greek gods unique should be explored.   The Greek gods, since they are anthropomorphic, have many of the same characteristics as humans.   One characteristic of the gods which is apparent is jealousy.   Aphrodite seems to be jealous of Artemis because Hippolytus worships Artemis as the greatest of all gods, while he tends to shy away from worshipping Aphrodite (10-16).   This is important because it sets in motion the actions of the play when Aphrodite decides to get revenge on Hippolytus.   The divine relationship between the gods is a bit different, however.   Over the course of the play, Artemis does not interfere in the actions of Aphrodite, which shows that the gods, while divine, do have restrictions; in this case, it shows the gods cannot interfere with each other. (1328-1330)   The gods are sometimes evil and revengeful, though, as can seen by what Artemis has to say about Aphrodite: "I'll wait till she loves a mortal next time, and with this hand - with these unerring arrows I'll punish him." (1420-1422)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The relationship of mankind and the gods also needs to be discussed. This relationship seems to be a sort of give-and-take relationship, in part.   The Greeks believed that if they gave to the gods, through prayer and sacrifices, that the gods would help them out.   This is especially true of Hippolytus and his almost excessive worship of Artemis.   Also, Theseus praying to his father Poseidon is another example of this, only

Accounting Standards Boards Essay

Increased globalization in the business world has brought to fore some of the issues and challenges that multinational businesses face in financial recording and reporting of foreign based operations. With operations based in different countries that operate under different accounting principles and with varying currencies, there has been a need for the accounting principles and standards to be converged. This has in the past nine years seen the accounting policy making suggesting a complete overhaul in the way financial statements are reported and a convergence between the US’s generally accepted accounting principles (US GAAP) and the International Financial Reporting Standards (IFRS). This has been through various meetings between the International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB), two boards which determine these accounting standards. This paper therefore evaluates the history of the two boards and their relationship and looks at IASB equivalents to FASB original pronouncements. It also describes how a Master of Science in Accounting would prepare a student for an accounting profession. History of the Relationship between FASB and IASB US Financial Accounting Standards Board (FASB) is a board which is responsible for setting and improving financial accounting standards in the US and for governing and fostering preparation of financial reports by non-governmental organizations (Financial Accounting Standards Board, 2012).International Accounting Standards Board (IASB) on the other hand is also an independent board responsible for setting international financial reporting standards (IFRS Foundation, 2011). Whereas IASB and IFRS takes a principle based approach to accounting standards setting, FASB’S GAAP does this through pronouncements which are based or rules. They both put a lot of emphasis on income statements, balance sheet, statements of changes in equity and cash flow statements as key reports that are important in financial reporting. Over the past decade these two boards which determine the accounting standards in the world have been working towards ensuring that the financial reporting all over the world converges. The convergence concept first took root in the 1950s in response to the cross border capital inflows that were as a result of the economic integration after world war two. These efforts initially focused on reducing difference in accounting principles between major capital markets globally otherwise referred to as harmonization of the accounting principles. By 1990s the concept had changed into convergence which sought to build high quality financial reporting standards to be applied internationally (Financial Accounting Standards Board, 2012a). Both developed in the 1970s, FASB and IASC (international Accounting Standards Committee) a predecessor to IASB, set a trend for expanding international accounting standards and with the reorganization of IASC into IASB in 2001, the use of IFRS among various countries has progressed rapidly. For instance, over 100 countries and the European Union use these standards issued by IASB. The U.S. mainly uses its own issued US GAAP (Progress Report, 2011; Cain, 2008). IASB and FASB have been working together towards converging the IFRS and the US GAAP since 2002. Even China and Japan have been working to bring together their accounting standards with IFRS as at 2009. Over the past decade the pace of convergence has been very fast with the internationalization of standards growing rapidly. In 2010, Securities and Exchange Commission in the US issues a report supporting the convergence of these standards through incorporation of â€Å"the IFRS in the US financial system† (Financial Accounting Standards Board, 2012a). This implies that the US has been increasing exploring adopting IASB’s IFRSs, although there have been issues such as the fair value issues in IFRS and the cost of implementation that have slowed the progress. The IASB equivalents of the FASB original pronouncements As noted above, IASB’s IFRS takes a principle based approach to accounting standard setting as compared to FASB’s pronouncements which are viewed to be much stricter. In essence therefore, though IASB and FASB may address similar accounting concepts their approach to it may be different. It is these IASB’s equivalents to FASB’s pronouncements that bring the differences between GAAP and IFRS standards. Evaluating the FASB’s original pronouncements and IASB, the manner in which accounting concepts are approached can be noted. These are: whereas IASB’s IFRS requires that inventory costs of spoilage and idle capacity be excluded from the cost of inventory, FASB’s GAAP does not; IFRS requires yearly comparison of financial statements unlike US GAAP which only views comparisons as â€Å"desirable† but require three year comparisons; IFRS permits but does not require reporting of â€Å"comprehensive income† unlike US GAAP which requires it; IFRS classifies liabilities as non-current if refinancing is complete before the date of the balance sheet unlike GAAP which classifies it as so, if refinancing is completed before the financial statements are issued; and prohibition of extraordinary items from the financial reports by IFRS unlike GAAP which permits but to a restricted items which affect profit and loss (Deloitte, 2004; FASB Report, 2002). Other accounting concepts that differ between IASB and FASB’s original pronouncements are that IFRS requires that LIFO method of determining inventory cost be prohibited in IAS 2, unlike US GAAP which permits LIFO in SFAS 151, and that IFRS requires reversal of inventory write downs if given criteria are met unlike US GAAP which prohibits it. In addition FASB permits that inventory at net value be measured even if it is above cost unlike IFRS which restricts this to producers and broker-dealers inventories. FASB classifies the interest received and paid as operating activity in the cash flow statement unlike IASB which may classify it as financing, investing or operating activity. This leaves room for a number of interpretations. Furthermore, though FASB excludes overdrafts from cash, IASB includes it if it forms a critical and integral part of an organization’s cash base or cash management (Deloitte, 2004; FASB Report, 2002). Other IASB equivalents to FASB pronouncements are enumerated as shown below (Deloitte, 2004; FASB Report, 2002): -IFRS restates previous financial statements in the event of non-mandated changes in accounting policy, unlike FASB which includes cumulative effects current financial statement’s net loss and profits -IASB uses change in estimated method to evaluate changes in depreciation of assets, unlike FASB which used change in accounting policy that is the net profit or loss cumulative effect. -IASB uses cost recovery method for construction contracts when the completed percentage cannot be determined for sure unlike the USA GAAP which uses completed contract method -IASB does not recognize deferred tax due to the an asset or liability transaction that doesn’t affect accounting or taxable profit and is not a business combination in IAS 12 unlike the US GAAP recognizes this these through its lack of â€Å"initial recognition exemption† as addressed in SFAS 109. -US GAAP has special exemptions due to the provision of deferred tax such as leveraged leasing, intangible developments in the gas and oil industry and undistributed earnings -IASB uses a tax rate that is â€Å"substantially enacted† to measure deferred tax liabilities and assets, which can be left to a lot of interpretations, unlike FASB’s enacted tax rate which is sure and consistent -IASB uses rate applicable to undistributed earnings of an organization to measure the deferred tax on those earnings , unlike FASB which uses the higher of the tax rate between the one applicable to undistributed profits and the one applicable to distributed profits as addressed in SFAS 109 -IASB recognizes expense for share-based payment based on fair value of the payment whereas FASB recognizes this based on intrinsic value at grant date -IASB measures business combinations on the date of the acquisition whereas FASB does this on the date of consummation or closing date -IASB requires that recognizing a liability prior to acquisition restructuring be only if the one being acquired recognizes it under IAS 37, this is unlike FASB which recognizes it if the acquisition has already began -IASB recognizes in process R&D as an intangible finite asset or good will, unlike FASB which recognizes it as expense How MSA Program prepares student for professional Accounting A Master of Science in accounting program is very important for anyone who intends to pursue an accounting career in the future. This program prepares a student by providing knowledge on the various accounting principles that need be applied in accounting profession. It also makes a student be aware of the various accounting standards that are existing in the world, how each differ, and how accounting records and done in each. In addition such a program provides analytical and critical thinking abilities. In addition, it offers a global perspective on accounting practices and business issues and provides a framework for effective development for team building and leadership skills, and ethical decision making in business. Lastly it will enhance interpersonal and communications skills through interactions which seek to learn ways of solving problems and issues in the accounting and finance realm. All these are critical for a career as an accountant. Conclusion This paper has discussed the history of the FASB and IASB boards and their relationship and has looked at IASB equivalents to FASB original pronouncements. It has shown that standardized management accounting and controlling concepts that transcend national boundaries are increasingly needed with concern on the need of an internationalized Accounting and financial reporting standard to help in comparing of financial statements of countries from different countries and also to make it efficient and less costly for multinational companies when they are conducting financial reporting of their performance. IASB and FASB have made tremendous progress thus fur in their bid to converge the global accounting standards.