The Age of Exploration and Expansion free essay sample

The journey of Vasxo da Gama has usually been viewed as essential advance in the spening of exchange courses toward the East. Zest exchange has been carried on via ocean in the locale since the times of the incredible sovereign of sheba Spice exchange was being shipped in Muslims ships selling from ports in india or the center east Major effect of Islam came in the mid fifteenth century with the ascent of the new sultanate at Malacca The Muslim dealers who had come to southeast asia for the flavor exchange, other would likewise pine for that exchange Catholic Europe had been limited to one zone One significant endeavor to extend past those boondocks was the Crusades which to a great extent bombed Europeans had for some time been pulled in toward the East The most celebrated medieval voyagers toward the east were The polos of Venice One went to the new world to â€Å"serve God and His Majesty, to offer light to the individuals who were in obscurity, and to develop rich, as all mean want to do† The extension of Europe was a state venture, tired to the development of unified governments during the Renaissance By the finish of the fifteenth century European states had a degree of information and innovation A last prod to investigation was the developing information on the breeze design. We will compose a custom exposition test on The Age of Exploration and Expansion or then again any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Portugal started to lead the pack in investigation when it started investigating the bank of African under the sponsorship of Prince Henry. Portugal find another wellspring of gold around the protuberance of West African Cargo that earned financial specialists benefit of a few thousand percent The time of investigation and development. Islam-is the monotheistic religion explained by the Quran, a book considered by its disciples to be the verbatim expression of God What was a significant effect of islam? Campaigns A medieval military endeavor, one of an arrangement made by Europeans to recoup the Holy Land from the Muslims in the eleventh, twelfth, and thirteenth hundreds of years What was the extension of europe? Portolani-Detailed diagrams made by medieval guides and mathematicians in the thirteenth and fourteenth century Who supported portugal? Portuguese set out to pick up control fo the zest exchange Admiral Afonso de Albuquerque built up his central command a Goa Portuguese assaulted Arab ships, they took seven vessels, executing those ready and making a few detainees Their prosperity was base on weapons and seamanships Portuguese in no way, shape or form had an imposing business model on the utilization of guns and explosives Spanish endeavored to arrive at a similar goal by cruising westbound over the Atlantic Important figure throughout the entire existence of Spanish investigation was an Italian from Genoa, named Christopher Columbus arrive at all the significant islands of the Caribbean, which is known as the non mainstream players Venetian sailor, John Cabor, investigated the New England coastline of the Americas Their boss weapons, authoritative abilities, and assurance brought the comquistadors mind boggling achievement Francisco Pizarro assumed responsibility for the Inca domain Individuals in the new world were called indians Queen Isabella announced the Indians to be subjects of Castile and organized the enomienda framework Arrival of the European enormously affected both the victors and the vanquished Who set up there central station at Goa? What was there progress base on? What did columbus call the Caribbean? Enomienda-is a work framework that was utilized principally by the Spanish crown during the colonization of the Americas and the Philippines. In the encomienda, the crown conceded an individual a predefined number of locals for whom they were to assume liability. Zest exchange has been carried on via ocean in the district since the times of the amazing sovereign of sheba. Zest exchange was being moved in Muslims ships selling from ports in india or the center east. Significant effect of Islam came in the mid fifteenth century with the ascent of the new sultanate at Malacca. The extension of Europe was a state venture, tired to the development of concentrated governments during the Renaissance. Portuguese in no way, shape or form had an imposing business model on the utilization of guns and explosives. Significant figure throughout the entire existence of Spanish investigation was an Italian from Genoa, named Christopher Columbus. Francisco Pizarro assumed responsibility for the Inca realm. Appearance of the European enormously affected both the victors and the prevailed

Compare and contrast the marketing strategies of two companies Essay - 1

Is the Credit Blacklist a Real Thing or an Urban Myth

Is the Credit Blacklist a Real Thing or an Urban Myth Is the Credit Blacklist a Real Thing or an Urban Myth? Is the Credit Blacklist a Real Thing or an Urban Myth?Even though it can feel like youre being blacklisted, the real answer is much more mundane.Your fingers are shaking as you type the last of your information into the credit card application. You’ve been denied in the past, but this time you are sure that you will be accepted. After all, the company sent you a notice saying that you were “pre-approved!”You hit “submit,” cross your fingers, and wait. 15 seconds later a response comes back.Denied.What the heck is going on here?! You mention it to your uncle Terry and he tells you about this thing called the “credit blacklist.” Basically, because you’ve misused credit cards in the past, you are on a secret list that will ensure you never get a credit card ever again.Sounds about right, you think to yourself. But is that what’s really going on here? Is there really such a thing as a credit blacklist?No, there is no such thing as a credit blacklist.Please forgive us fo r not keeping you in suspense. But no there is absolutely no such thing as a credit blacklist.Maintaining a hard blacklist is forbidden under the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA). The FCRA was passed in 1970 and the ECOA was passed in 2003. Both are aimed at preventing discrimination in lending and ensuring proper use of citizens’ private data.But if there is no credit blacklist, then why would someone consistently be denied for credit? The answer lies in their credit history, as well as the algorithms that large companies use to make their lending decisions.Your credit history determines your credit future.Whenever you take out a loan or a credit card, make a payment (or not make payment), add money to your credit card balance, close a card, pay off a loan, or file for bankruptcy, that information gets reported by your creditor and added to your credit report.Information stays on your report for seven years (or longer in some cases, inc luding bankruptcy) and it weaves a fairly comprehensive picture of how you’ve used credit in the past. When people talk about your “credit history,” they are basically referring to whats contained in your credit report.Or rather, your credit reports, because you actually have three of them. Each of the three major credit bureausâ€"Experian, TransUnion, and Equifaxâ€"collects information and maintains their own separate version of your credit report. Depending on which businesses report to them, information can vary between reports.The info contained on your report is whats used to create your credit score. More often than not, the score used is your FICO score (created by the FICO corporation), but it could also be your VantageScore, which was created a joint venture by the three credit bureaus.If you are being denied for credit, it’s likely because of the info on your credit report and how it’s reflected in your score.A poor credit history can have the same effect as bein g “blacklisted.”The exact algorithm for creating your FICO score is secret, but the FICO corporation has made it known that your score consists of 5 different information categories and that some categories are more important than others.The two most important categories are your payment history  and your amounts owed. Payment history makes up 35 percent of your score, while amounts owed make up 30 percent. Together they make up well over half your total FICO score.The other three categories combine to make up an additional 35 percent of your score. The length of your credit history comprises 15 percent, while your overall credit mix and your recent credit inquiries each make up 10 percent.If you’re being denied for credit, the odds are good that it’s because of problems in your payment history and/or your amounts owed. Maybe you had a period where you were out of work and skipped a number of credit card or installment loan  payments. Or perhaps you were one of the 58 percen t of recent college graduates who racked up too much credit card debt within their first two years out of school.Even if it’s been half a decade since you cleaned up your financial act, that information is still on your report and dragging down your creditworthiness.Credit report errors could be resulting in a “blacklist” effect.Credit bureaus collect information on hundreds of millions of Americans, so it’s not at all surprising that mistakes end up on people’s reports. But that lack of surprise doesn’t forgive the immense damage that these errors can do to your score.Errors can arise from any number of things, including the company that reports the info to the bureau making a mistake on their end. Oftentimes, an error will stem from your information being confused with someone else’s because you two have the same name.Don’t worry. These errors can be fixed. To check your report for errors, just visit www.AnnualCreditReport.com and request a copy. By federal law, ea ch credit bureau is required to provide you with one free copy of your report per year. All you have to do is request it.If you find an error on your report, then follow the instructions laid out in this blog post: How Do You Contest Errors On Your Credit Report?Getting flagged by Chexsystems can feel like you’re on a blacklist.Beyond the three major credit bureaus, there are a number of credit reporting agencies that track different aspects of consumer behavior.One of the major agencies is Chexsystems, which tracks deposit accounts (stuff like checking and savings account). If you have a history of poor financial behavior with a checking accountâ€"racking up NSF fees, constant over drafting, refusing to pay a negative balanceâ€"then Chexsystems will flag you.The next time you go to a bank to open a new account, you could be in for a rude awakening. While opening a bank account might seem like a formality, a poor Chexsystem score will basically ensure that your application for a b ank account gets rejected.Information stays on your Chexsystems for five years, which means that it could be that long before you are able to open another bank account. And if a lender, landlord, or utility company decides to pull your Chexsystems report, it could negatively affect your application with them as well.There is no credit blacklist, but that doesn’t make having bad credit any easier.If there were a hard and fast credit blacklist, it would almost be a little comforting. After all, getting your name removed from  this blacklist would set you on the path to financial success. Personal loan and credit card applications would come flowing in, and you’d stop having to rely on bad credit loans, no credit check loans, and cash advances to get by.But the truth is far more complicated. Poor financial behavior will stick with you long after you’ve cleaned up your act, and random errors on your credit report will ding you for stuff you didn’t even do!The only thing you can do to improve your credit is to keep practicing smart money habitsplus a few weird little tricks that can help you out as well.To learn more about ways to improve your credit score, check out these related posts and articles from OppLoans:Want to Raise Your Credit Score by 50 Points? Here Are 4 Great  TipsHow to Fix Your Bad Credit in 2018Why You Should NOT Close That Old Credit CardHave you ever felt like you were on a credit blacklist? We want to hear from you!  You can  email us  or you can find us on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN

Quantitative Research Design Critique Template - 899 Words

NU310_Unit 5 Quantitative Research Design Critique Template â€Å"Quantitative studies usually focus on concepts that are fairly well developed, about which there is an existing body of evidence, and for which there are reliable methods of measurement† (Polit and Beck, 2012). I chose the Quantitative method of data collection for my research, because I want to determine the effective of regular instruction, face-to-face training, and follow-up on inhalation techniques in increasing treatment adherence in patients with COPD Critique Study: Efficacy of a multifactorial intervention on therapeutic adherence in patients with chronic obstructive pulmonary disease (COPD): a randomized controlled trial 1. What type of question (therapy, prognosis, etc.) is being addressed? Does the research question concern a possible causal relationship between the independent and dependent variables? The type of question being addressed in the study is to the effectiveness of a multi-factorial intervention on therapeutic adherence. The aim of the study is to determine the causal connection between the effectiveness of multi-factorial intervention and therapeutic adherence in patients with chronic obstructive pulmonary disease. 2. What would be the strongest design for the research question? How does this compare to the design actually used? The design of the study was randomised controlled trial. The 146 patient with COPD were divided in two groups using the randomisation techniques. TheShow MoreRelatedWhat Makes A Research For Software Engineering?1241 Words   |  5 Pagesbetter research strategies for research in software engineering in her paper titled, â€Å"What makes good research in software engineering?† By formalizing what is already considered as high quality research, software engineers can better design research processes, aide them in writing quality research papers and also help them read and better understand software engineering research papers. Shaw puts forth the hypothesis that research in software engineering should be characterized by research processesRead MoreComparing Quantitative Research Studies PP Essay2498 Words   |  10 PagesComparing Quantitative Research Studies Paula Knight, RN NUR 4165 Introduction ï‚ž The purpose of this paper is to critique, contrast, and compare two research studies. â€Å"Assessment of Anxiety in Intensive Care Patients by Using the Faces Anxiety Scale† written by McKinley, Stein-Parbury, Chehelnabi, Lovas will be referred to as study one (2004). â€Å"Prevalence of Limited Health Literacy and Compensatory Strategies Used by Hospitalized Patients† written by Morris, Grant, Repp, MacLean, LittenburgRead MoreCritique Template For A Quantitative Study Essay2233 Words   |  9 PagesCritique Template for a Quantitative Study NURS 5052/NURS 6052 Week 6 Assignment: Application: Critiquing Quantitative, Qualitative, or Mixed Methods Studies (due by Day 7 of Week 7) Date: 7/17/2016 Your name: Adetola Stephen Okutubo Article reference (in APA style): Sofroniadou, S., Revela, I., Smirloglou, D., Makriniotou, I., Zerbala, S., Kouloubinis, A., ... Iatrou, C. (2012). Linezolid versus Vancomycin Antibiotic Lock Solution for the Prevention of Nontunneled Catheter-relatedRead MoreProblem Statement And Research Questions3043 Words   |  13 Pages Problem Statement and Research Questions Surinder Sharma Running Head: PROBLEM STATEMENT AND RESEARCH QUESTIONS Table of Contents Introduction 1 Statement of the Problem 3 Purpose Statement 4 Research Questions 5 Research Hypotheses 6 Definition of Key Terms 9 References 10 MOCK CONCEPT PAPER Running Head: PROBLEM STATEMENT AND RESEARCH QUESTIONS ii 8 Introduction The United States (U.S.) government department of defense (DOD), department of commerce?s National Oceanic andRead MoreDeveloping Effective Research Proposals49428 Words   |  198 Pagespublication date: lcc: ddc: subject: Developing Effective Research Proposals Essential Resources for Social Research Punch, Keith. Sage Publications, Inc. 0761963553 9780761963554 9780585386072 English Social sciences--Research--Methodology, Proposal writing in the social sciences. 2000 H62.P92 2000eb 300/.72 Social sciences--Research--Methodology, Proposal writing in the social sciences. cover next page Page i Developing Effective Research Proposals previous page page_i next pageRead MoreEvidence Based Practice Essay6286 Words   |  26 PagesDevelopment of the EBP Concept • Began with medicine o Archie Cochran, a British epidemiologist in 1972 published a book criticizing the medical profession for not reviewing medical research studies o Believed that the strongest evidence came from RCT (randomized clinical trials). RCT are the most strict kind of research design. • A RCT has to have three things: • Control group • Placebo group • Experimental group o Founded the Cochran Foundation in 1992 after his death • Defined as the conscientiousRead More3521 Unit 1 Essay example10967 Words   |  44 Pages†¢ †¢ †¢ plan and organise project proposals explain the background, objectives and method of a project refer to the literature to justify a project proposal use appropriate language in project proposals Introduction Part of the work involved in a research project is the writing of the project proposal. The proposal is a brief account of the topic or area you have chosen to examine and a brief explanation of how you intend to investigate the topic. An effective project proposal can help you to convinceRead MoreManagement Control and Their Limitations8558 Words   |  35 Pagesthe nature of social constraint: the implications for corporate governance practice Draft (M.Phil/Ph.D) research proposal by Peter Carroll University of Greenwich, Business School Paper presented at the Management Control Association workshop at The Institute of Chartered Accountants in England Wales, Friday 27th February 2009 Draft research proposal (approval by University’s research committee to be obtained) Please do not quote without permission. Comments welcome to the author at cp89@greRead MoreStrategic Management and Leadership25577 Words   |  103 PagesManagement Unit 9: Managing Corporate Responsibility in the Wider Business Environment Unit 10: Strategic Human Resource Management Unit 13: Managing Financial Principles and Techniques Unit 14: Strategic Supply Chain Management and Logistics Unit 16: Research Methods for Strategic Managers Unit 17: Project Development and Implementation for Strategic Manager 2 2 3 4-7 6 8-13 14-19 20-27 28-36 37-44 45-52 53-61 62-69 70-77 78-86 The London Academy for Higher Education: Extended Diploma in StrategicRead MoreMotivation in Work Settings: Reflection in the Core Organizational Management Strategy16099 Words   |  65 Pagestheir employees. Many scholars have argued on different forms of motivation and argued that to be motivated should be individual employee’s responsibility and the employers responsibility, this theory was criticized by some school of thought. This research is aim to determine the understanding of employees about motivation and know what forms of motivation actually motivates each employees, this study also elaborate on various forms of motivation and proves that it is not just financial incentives

Essay on The Pros and Cons of the Internet - 795 Words

Positive and Negative Aspects of the Internet The new age of technology was born late last century in the form of the silicone chip. Since this early invention computers have progressed in leaps and bounds from the very basic early models to the now very complicated and very powerful computers of today. In between this growth the Internet developed into a mega market where billions of dollars are traded daily. It is a place where you can pretty much buy and sell anything you can think of. But with the development of such a powerful tool there are always going to be problems such as pornography, hackers, dodgy chat rooms and authenticity of information. But like with any argument you have to weigh up the good with the bad, the†¦show more content†¦These programs are regularly up dated barring more and more inappropriate pages as the net is constantly growing. A major threat that nearly everyone who goes on the internet faces is the attack of hackers who can pretty much strike anyone at any time inflicting major damage and loss of money. These hackers are able to gain your confidential information using special hacking tools, this means they can get your credit card number that you gave out when doing online shopping and use it much to there benefit. These people are also able to create viruses that have the sole purpose of destroying and damaging your computer software. The â€Å"I love you† e-mail that was circulating the web recently is a good example of what people are capable of. Many people now days us chat rooms and the like to make new friends and meet different people. This in turn can create problems as there is a danger of meeting weird people who may want to harm you. They can make themselves seem to be different from the person they really are, this can be a real danger if someone decides to meet a stranger they met on the net as he or she may turn out to be someone you really do not like. Yet they could become obsessed with you which would result in a lot of fear and possibly worse. But on the other hand it can be a very good way of forming new friendships or relationships with other businesses that are on the other side of the world Although there are many threats to take into considerationShow MoreRelatedThe Internet : The Pros And Cons Of The Internet786 Words   |  4 Pagesboth pros and cons when there is a discussion about the internet. We can learn so much of what we can read on the internet. Which is great news considering most of us are using the internet. To prove my point we visit page 116 in the book The Shallows, the book supports our solution. Nicholas G. Carr discusses all about the internet in our generation and how we use it. He talks about the internet being beneficial for us to attain useful knowledge. He also discusses the cons of the internet in ourRead MorePros and Cons of the Internet2810 Words   |  12 PagesMinistry of Education and Science of the Republic of Kazakhstan Kazakh British Technical University English Language Department RESEARCH PAPER Pros and cons of the Internet HUM 317 Spring 2008 Advisor: Balia Jalgasbaevna Jolamanova Done by Tikhonenko Christina Temirbekova Kamila Nadyrova Farida Supiyeva Nargiza Sagiyev Yerkebulan Group Friday 13:00 Almaty 2008 Acknowledgements We thank all people who helped us in this work, especially BaliyaRead MoreCons and Pros of Internet16245 Words   |  65 PagesAccounting and Business Research, International Accounting Policy Forum. pp. 5-27. 2006 5 International Financial Reporting Standards (IFRS): pros and cons for investors Ray Ball* Abstract—Accounting in shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics (driven by reductions in communications and information processing costs) makes increased integration of financial reporting standards and practice almost inevitable. But mostRead MoreEssay on The Pros and Cons of the Internet1897 Words   |  8 Pages The internet is a vast network of computers that connects many of the world’s businesses, institutions, and individuals. It allows millions of people throughout the world to send and receive messages to each other, share information, and play games (Naughton 4). It was initially designed to aid the government and help people expand academically, but it is now becoming more commercialized and used in ways that it was not made for. The thought of the internet was first introduced in 1960 when theRead MoreThe Pros And Cons Of Internet Privacy1309 Words   |  6 PagesNow, the Internet is not only a way people access information, but also the net that connects them. People use it to communicate with friends and family, keep current events and shop online. The using of Internet sometimes involves personal data, triggers fraud and abuse. These are the reason people have laws to protect themselves. People now much more cherish their privacy, so the government takes the responsibility of establishing the Internet privacy law and develop them. However, the legislativeRead MoreEssay on Pros and Cons of Internet1258 Words   |  6 PagesInternet has become new service for helping most of the time but, there are certain occasions where it becomes a nuisance The internet has become a very popular tool at the hand of every one who is a computer literate person of course, used mostly to get information, shop online and download files, music and so on. But while surfing the internet for appropriate or specific information, we often end up wasting time with unwanted jargons and reacting to scam. We shall discuss deeper into theseRead MoreThe Pros And Cons Of Internet Censorship1042 Words   |  5 Pagescomes in many forms and for a lot of different reasons but when it comes to the internet, for the most part it is beneficial. It can provide security for sensitive material. The things that minors are exposed to can be limited. Also you can make sure that it is not used to cause chaos. Furthermore it would seem to be a beneficial part of online life. It can provide security for important documents and conversations. Internet censorship can help with cyber security when important information or secretsRead MorePros and Cons of the Internet Essay1138 Words   |  5 PagesThe Internet is more popular today than it was years ago. As technology advances, the use of the Internet grows yonder and is an amazing addition in our lives. The Internet has been perhaps the most outstanding innovation in the field of communication in the history of humanity. It is a global meeting place where people from all parts of the world can collaborate. Additionally, it is a service available on the computer, through which anyone who has access to the Internet can receive. The InternetRead More The Pros and Cons of Internet Chat Rooms Essays834 Words   |  4 PagesThe Pros and Cons of Internet Chat Rooms Computers have affected our lives in so many ways. To the way we finance things, to the way we find our future significant other. The outcomes of computers probably happen with in the last five years, give or take some. It had made people become in love with being in a virtual world and new people. That now in â€Å"real† life the people do not know how to act around not virtual people. In this report I plan to take a look at the pros and cons of meeting/talkingRead MoreThe Pros And Cons Of The Internet Has Changed The World1785 Words   |  8 Pages CHow the Internet Has Changed the World The internet and technology has changed the world and how we live in many ways. It has changed our daily lives and everything about how we share information. Some people may argue whether the cons outweigh the pros of the internet, but overall it has brought so much more advantages and opportunities for us humans. The internet has changed the world for the better because it has allowed research to be found at the click of a button, helped connect people worldwide

The Foundations Of Buddhism By Rupert Gethin - 1417 Words

There are many different definitions and views of Buddhism and many of these views and definitions vary from each other. A quick internet search reveals all the different definitions of Buddhism and some of them may not even be correct or have a scholarly perspective. A five minute Google search reveals one definition which we will take a look at: †¦[T]he Buddhist path can be summed up as: (1) to lead a moral life, (2) to be mindful and aware of thoughts and actions, and (3) to develop wisdom and understanding.† Now while this definition may not be incorrect one could also say that it is not correct either, at least in the form of scholarly perspective. I will compare this definition found via Google and critique it to a more scholarly view of Buddhism. I will use examples from Rupert Gethin’s The Foundations of Buddhism, and compare certain aspects of Buddhism and compare it to the definition found via Google. I will give a brief overview of my points and compare it to an aspect of the Googled definition. One thing to take note of is that some aspects that I will be taking about can be applied to the Google Definition in different and various ways. For example, I could compare attachment found in Buddhism to the different aspects of the Googled definition in different ways or it could be seen as a unifying t heme. The first point in the Googled definition about â€Å"leading a moral life† is not entirely incorrect nor is it correct either. While â€Å"leading a moral life†Show MoreRelatedBuddhism And The Human Condition1289 Words   |  6 Pagesinsightful and irrefutable fact of life. The human race’s continuous inability to grasp the concept of life as suffering has led to the erroneous and often western misconception that Buddhism is an inherently cynical religion. This ethnocentric line of criticism, however, ignores the rewarding and deeply spiritual facets of Buddhism that attempt to enrich one’s life by mitigating dukkha. The Buddha’s Four Noble Truths reflects this understanding, and serves to remind adherents that life is suffering and thatRead MoreTannisho: Master of Shin Buddhism1195 Words   |  5 PagesThe Tannisho are the teachings of Shinran, Master of Shin Buddhism, which is a form of Shingon or Esoteric Buddhism. Shin Shingon Buddhis m is also known as Pure Land Buddhism. This school of thought, therefore, comes out of the Mahayana tradition. It holds that the Dharma has become too corrupt to lead anyone on Earth to nirvana. Instead, there are â€Å"Buddha fields† (Gethin, 263) that one can be reborn into and obtain freedom from samsara through nirvana there. Through the Tannisho Shinran explainsRead MoreHow Buddhism Has Changed Essay1643 Words   |  7 PagesHow Buddhism Has Changed Albert Einstein once said, â€Å"Buddhism has the characteristics of what would be expected in a cosmic religion for the future: it transcends a personal God, avoids dogmas and theology; it covers both the natural spiritual, and it is based on a religious sense aspiring from the experience of all things, natural and spiritual, as a meaningful unity.† I though this quote was an interesting beginning into seeing how this ancient religion changed over the course of its existence

Financial Accounting for Participative Review -MyAssignmenthelp

Question: Discuss about theFinancial Accounting for Participative Review Process. Answer: Introduction After going through the current issues that are mentioned in your letter with suitable approach and reviewing the on-going problems that you are facing at present, we have come-up with various recommendations that may help you to overcome the issue or at least minimise the issues. In this letter I will state some suggestions step by step and the suggestions are aligned with the Corporation Act 2001 and the Australian Accounting Standards Board (AASB). Hoping that the suggested recommendations will help you to resolve the queries raised by you in the communication letter. Respected Sir, After going through your letter addressing the issues that are currently faced by you, the below mentioned recommendations are provided that will help you to overcome the issues. The 1st issues that the company are currently facing are the frequent variance with regard to the warranty expenses that were previously recognised by the company in comparison with the actual cost attributed to replace or fix the faulty products. However, recently it has been decided in the board meeting that the warranty cost will be recognized only after the actual expenditure towards the warranty cost. The company are expecting to resolve the issues associated with the warranty cost in this manner. As per the AASB, the organization must prepare their financial statement excluding the cash flow statement based on the accrual methods of accounting. When the company prepares its financial statements based on the accrual basis for accounting, it can recognize the items, for instance, expenses, incomes, equities, liabilities and assets when they fulfil the required recognition and definition criteria for the required framework. As per the accrual method of accounting the impacts of th e transactions and the associated other events are taken into account only after they take place and not accounted for the provision. Further, they are recorded in the periods to which they relate and the financial statements related to that period. If the company follows the accrual method of accounting they will be able to get the true picture of their financial responsibilities that has to be performed with the available resources. This will be advantageous to the company as it will enable the business to manage the financial activity properly. The debts and incomes can be analysed more accurately with the accrual method of accounting. Further, it will be effective for monitoring the activities and managing the finance. Under the accrual method the companies will receive the immediate reflection regarding how much money they are spending through the expense reports. The business can further analyse the financial trends and can update their cash flow statement on current basis. Mo reover, the cash accounting method takes into consideration after the fact method of accounting. On the contrary, the accrual accounting makes it simple for the business executives in planning the futures. As the profits that can earned and expenses that have to carried out are updated on daily basis the executive s can prepare their future strategies immediately regarding the improvements of sales or generation of more profits. This will assist the company to become progressive that is very important for the viability and sustainability of the company over the long-run. Therefore, it is suggested to the company to account for the warranty cost based on the accrual method of accounting as it will enable them to recognise the expenses towards warranty cost only after the expenditure takes place. It will further assist the company to minimise the gap between the provision of warranty cost and the recognition of actual cost. The second problem that the company are facing is the problem associated with the recognition of revenue. The company is entered in an agreement with various retailers. Under the agreement, the company will provide various products to the retailer, which will be displayed by them at the front window of the store. As a charge for the display the company will pay an amount of $ 600 per square meter as the fee to each of the store for each month. The revenue from the sales will be returned by the store after deduction of $ 600 as fee. However the unsold goods after each quarter will be returned back to the company and the company will add the goods to the inventories and deduct that amount of goods from the revenue. The company is in the view that the payment of fees are not required to be shown in the statement separately as the cost is associated with carrying on the business. As per AASB 118, revenue shall be recognized at the fair value of consideration that is receivable or receive d. Moreover, the revenue shall be recognised only when the risks and rewards associated with the goods are transferred to the buyer, the amount if the revenue can be computed reliably and the costs that are expensed or to be expensed with regard to the transaction can be reliably measured. Further as per the AASB 1004 and the Australian Accounting Standard (AAS) 15 Revenue, expenses are differentiated to deliver the information related to various aspects of the financial performance. The information related to the expenses can be provided in any of the two ways. 1st option is to classify the information as per their nature for instance, depreciation, rent, salaries or the fees. 2nd option is, for the retailing or manufacturing organizations the expenses can be classified as the administrative expenses, distribution expenses or the cost of sales. The classification delivers a signal that the expenses may vary indirectly or directly, with the changes in the production or sales level o f the industry. The choice of representing the expenses depends on the sole discretion of the organization. However, any of the methods selected, it is mandatory for the organizations to show the expenses related to the sales separately in the income statement. Further as per the AASB 1019 and AAS2 for inventories suggest that the amount of inventories on hand shall be reported at net realizable value on the reporting date and the losses associated with the inventories must be shown separately and shall not be included under the cost of sales. Further, any reversal or writingdown of the inventories shall be shown in the financial statement on the reporting date appropriately. Moreover, the impact of revision with regard to the accounting estimates shall be recognized as expenses or revenue in the financial statement of the period in which it is revised, if the revision has an impact only on the reporting period or in the future period and current period of the revision, if it affect s both the future and current period. The accounting forecasts for the prior period shall not be revised with the retrospective effect from the prior financial period. When there is an issue regarding the revision of the accounting estimates, then the transaction is considered as the revision of the accounting estimates. With regard to the presentation of financial statements as per the AASB standards, under the statement of comprehensive income, the cost of selling the goods or cost expensed for earning the revenue must be shown under the separate head rather than showing the sales less cost of goods sold as net amount. The format can be as follows: Particular Amount ($) Income from sales / Revenue XXX Less: Cost of goods sold XX Gross margin XXX Less: Other Expenses XX Net margin XX By giving the appropriate effect for the above mentioned issues mentioned by you can be solved. Accrual method of accounting will assist the company to recognize the items, for instance, expenses, incomes, equities, liabilities and assets immediately, when they fulfil the required recognition and definition criteria for the required framework. It will help the company to prepare the future budgets and estimating the revenue and expenses. Further, as per AASB 118, revenue shall be recognized at the fair value of consideration that is receivable or received. As per the AASB 1004 and the Australian Accounting Standard (AAS) 15 Revenue, expenses are differentiated to deliver the information related to various aspects of the financial performance. Further as per the AASB 1019 and AAS2 for inventories recommends that the amount of inventories on hand shall be reported at net realizable value on the reporting date and the losses associated with the inventories must be shown separately and s hall not be included under the cost of sales. Therefore, it is suggested that the company shall take into consideration all the suggested things when they will prepare their financial statement next time. From, Maria McKenzie Bibliography Capalbo, F. and Sorrentino, M., 2013. 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