ANSWER ALL QUESTIONS

QUESTION 1

A friend who likes to invest in the stock market made the following statements to you recently. “I don’t invest in entities that operate in service or knowledge – based industries because their financial statements don’t really reflect the true value of the entity. This makes it very difficult for me to make informed decisions about whether to invest or not.”

REQUIRED:

(a) Discuss why an investor may arrive at the conclusion that the financial statements of entities operating in service and knowledgeable based industries are not useful for making investments decisions.

(10 marks)

(b) Explain the recognition criteria that prevent human capital being recognized as an asset in the financial statements.

(10 marks)

(Total 20 marks)

QUESTION 2

BNM is a knowledge – based business, which relies on key personnel and internally generated intellectual capital to generate revenue. BNM is listed on local exchange. The directors believe that the information provided by the annual financial report fails to provide a complete picture of the activities and economic environment in which BNM operates. They are keen to ensure that current and potential investors are aware of the intellectual property that is a primary resource in the business. The business has cultivated key customer relationship and as a result has secured four large contracts that will run for at least the next three years.

The directors of BNM consider themselves to be socially and environmentally aware and have made efforts to improve the entity’s reputation as a good corporate citizen. They are considering including some form of additional narrative disclosure within the next annual report.

REQUIRED:

(a) Discuss the potential advantages that could be gained by BNM if included voluntary narrative disclosure within the annual report.

(6 marks)

(b) Discuss the potential drawbacks of voluntary disclosure being included in annual report.

(6 marks)

(Total 12 marks)

QUESTION 3

The International Accounting Standards Board (IASB) and the standard – setter in the USA, the Financial Accounting Statement Board (FASB), have been working together towards convergence of their respective accounting standards. Part of the process has been the review of the IASB’s Framework for the Preparation and Presentation of Financial Statements.

REQUIRED:

(a) Explain the potential benefits that a common conceptual framework could bring to the standard – setting process.

(6 marks)

(b) Discuss the potential benefits of convergence to investors.

(6 marks)

(c) Discuss the potential impact of convergence on entities that operate globally.

(6 marks)

(Total 18 marks)

(Overall 50 marks)

We begin our sixth week by looking at the great post-classical civilizations in the Islamic areas, China, and India.  Please answer at least ONE of the following questions.

Remember to answer as completely as possible, and explain using specific facts, events, and other points. Organize the answers and produce well-written efforts.  Work to develop the answer beyond basic facts by explaining points fully.  As a short cut, you may cite the text as "Bentley and Ziegler, 108" (noting authors and page numbers).  Other sources should be cited fully using the University of Chicago Style (Turabian).  When in doubt, cite and reference completely.

Remember, please post by Thursday. 

1.  Describe the important political, economic, religious, and social changes that affected India after 500 A.D. (CE) What new migrations occurred and how did these affect the region?  Compare north India with the south (the Decca).  Compare and contrast these changes for each geographic region and explain when these happened.  (Don't forget the issue of caste). 

2.  How do Indian political organizations, culture, and religions affect South and Southeast Asia in the period between 500 and 1500 A.D. (CE)?  Explain how Indian advances arrived in these regions, who was involved, and how the native states and cultures reacted.  Provide specific examples.

3.  Describe the technological and economic innovations, along with political events, that drove Indian Ocean trade and commerce in the thousand years after the end of the classical period.  Who and what regions were involved?  How did the development of economic specialization assist in the growth of material exchange?  Explain.

4.  How does Islam develop in the 7th century A.D. (CE)?  Who is Muhammed and what are the five (or six pillars) of the faith?  What are the Quran, the hadith, and sharia, and why are they important?  Explain.  How do Arab Bedouin, Jewish, Christian, and merchant communities influence Islam?  How does Islam split into Shia and Sunni communities?  Discuss.

5.  Explain how Islam created an empire over three continents in the century after Muhammed's death?  What dynasties rule these areas and where is the center of power for each?  Explain how the new empire draws on areas it conquered for techniques and knowledge.  What economic and agricultural developments result from the unification of these areas?  Discuss trade, banking, and other advances.

6.  Compare the role of women, peasants, merchants, aristocrats and other social classes in the the Islamic empire, in Sui, Tang, and Song China, and in India.  What similarities does one see in these areas?  What differences are apparent?  Explain, citing examples.

7.  Who restores imperial unity in China and why do the Sui collapse so quickly?  Compare the Sui Dynasty, with the Tang and Song.  What policies were similar in these post-Han dynasties?  What were different?  What kinds of economic and technological development occurred from 500 to 1300 A.D. (CE)?  Explain, citing examples.  How does China influence its neighbors (Korea, Vietnam, and Japan)?  Discuss.

8.  Compare and contrast the impact of religion (Islam, Buddhism, and Hiduism) affect each area in the period 500 to 1300?  How do these support or undermine the development of the state and administration?  Provide examples.  What is neo-Confucianism and how does it affect Buddhism and Daoism in China?  Explain.  

9.  After answering one of the questions above, please post any questions or issues you think need to be addressed for your colleagues to consider.

B and Z, chapters 13-15 (make certain to read the highlighted sections in each chapter) One primary source reading from chapters 13-15 from the publisher's website (www.mhhe.com/psi and click Traditions & Encounters 5e)

Policy: In this conference you are expected to post your comments on "Life's Origin and Early Evolution". First, read my Course Content Item and the pertinent part of the text book (pages 282-295)

Policy: In this conference you are expected to post your comments on "Viruses, Bacteria, and Archaeans". First, read my Course Content Item and the pertinent part of the text book (pages 296-309)

Policy: In this conference you are expected to post your comments on "Protists". First, read my Course Content Item and the pertinent part of the text book (pages 310-323).

Policy: In this conference you are expected to post your comments on "Plants". First, read my Course Content Item and the pertinent part of the text book (pages 324-341

Policy: In this conference you are expected to post your comments on "Fungi". First, read my Course Content Item and the pertinent part of the text book (pages 342-351).