Essay on The Pros and Cons of Marketing - 939 Words

Finding the Good and the Bad in Marketing In these two real world marketing examples, I have chosen Nepal Thai Food Products (P) Ltd., the manufacturer of Wai Wai instant noodles, as a company that is doing a very good job at marketing. This company is marketing its Wai Wai brand of instant noodles in Nepal from 1985. Another company that I have chosen as a bad example at marketing is Hansophone Electric Electronics. This company is marketing Hansophone brand of EPABX systems in Nepal. While choosing these companies as a good and as a bad example at marketing, the following points that are visible to the observers of the companies marketing activities are taken into consideration.  · Environmental scanning which provides†¦show more content†¦The difference between Wai Wai and other brands was that Wai Wai could be served like other brands as well as it could be eaten without any preparation. It was ready to eat right after opening the packet. Another difference was the seasonings. While the Wai Wai had three different seasonings- taste enhancer, onion flavored oil and chilly powder, the other two brand had only one seasoning -- the tastemaker. Before the production of Wai Wai in Nepal, these kinds of noodles were imported mostly from Hong Kong and Thailand. These imported brands were available in limited stores of Kathmandu and only a few consumers were aware of these products. Environmental Scanning for instant noodles market From the marketing activities of Wai Wai it seems to me that environmental scanning had been done carefully for this product before its launching into the Nepalese market and it is being done regularly after its launching. If we look back to the period from 1980 to 1985, we can clearly see that Wai Wai marketing team had clearly visualized the following environmental forces driving it to launch the product. Social Forces  · Population shift from rural areas to Kathmandu valley and other urban areas  · Growing number of school going children  · Increase in the number of private schools Economic ForcesShow MoreRelatedThe Pros And Cons Of Components In Marketing790 Words   |  4 Pagescompleted in my Theater II class was Marketing. This was a very long unit with roughly twenty-two to twenty-five days. However, this amount of time was necessary to complete everything leading up to the last days before the performance. My group members were Sage, Matt M, and Matt S. Some of my group members accomplished more than others, however, we completed lots of components for the performance. This unit was the most challenging unit of the three. The marketing unit definitely put up some obstaclesRead MoreThe Two Most Interesting Jobs1188 Words   |  5 PagesSkip Remington Professor Fred Mader Marketing 340 2/13/16 Marketing Paper The two most interesting jobs I discovered through my research is Market Research Analyst and Customer Service Representative. They require educational experience that is a level apart in difficulty. They are in contrast in that one helps the firm and the other helps the firm’s customers. The jobs involve working together with people so that both sides are happy in the end. Their salaries differ as a result of their educationalRead MoreSleep Well Motel1508 Words   |  7 Pagesheld was director of marketing research for a large electronics corporation located in Houston, Texas. Despite the title, Will felt his position was not satisfying. â€Å"Marketing research in an industrial company just isn’t very exciting or personally rewarding; in fact, it’s downright dull.† This statement pretty well summarized Will’s feelings. Although Will had been trained as an engineer, he discovered that engineering wasn’t his primary interest and began to mov e into marketing. When the positionRead More9 Ways to Determining Advertising Budget1306 Words   |  6 Pages 9 Popular Ways to Determine Your Marketing Budget 1. Percentage of revenues This is by far the most talked about method of determining your budget. This method works by taking a fixed percentage of your revenues (that’s every penny your company brings in) and allocating that amount for marketing. The most commonly used numbers are 5-10% (generally for bigger businesses), 20% (used more for small businesses), and 2-5% (very large companies). Picking the percentage that works best for you will probablyRead MoreFashion Channel Case Study1080 Words   |  5 PagesChannel Marketing Analysis XXXXXX XXXXX Abstract The Fashion Channel (TFC) has enjoyed a calm journey on the top of the fashion-programming niche for almost 10 years. However, there is a frontal attack from market-challengers of two other cable networks to capture market share and revenues from TFC. The CEO is keenly aware that TFC needs a new marketing strategy if they want to remain the market leader. Therefore, he hired a senior vice president of marketing to gatherRead MoreEldora992 Words   |  4 Pagesrelocated in this effort as well? A: The Eldora Company should place a manufacturing plant in Asia, due to the lower labor and production costs. In the same area, they should place their marketing department for the Asian market. It is important to move a marketing division over to the Asian market, due to American marketing strategies not necessarily working in Asia. Having a local plant would also help reduce the market risks, especially the trade barriers and exchange rates. This would also help theRead MoreEssay on Bmw Presentation for Marketing Planning786 Words   |  4 PagesBMW presentation Marketing Planning Week 3 What are the pros and cons to BMW’s selective target marketing? 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Its mission statement is, â€Å"To provide technological solutions that empower young adults with learning disabilities to accomplish life goals.† With a focus on commitment to the mission, patience with clients, project a positive attitude, integrity in all communicationsRead MoreZoecon Case1011 Words   |  5 Pagesterm effect on roaches. Therefore, when all areas are not treated, roaches move away and dwell on untreated areas. So adulticide can reduce the effect of an IGR. To introduce Strike ROACH ENDER to the market, Zoecon perform a test based on past marketing experiences on another similar product. The results was to help the company choose the adequate market, the best form of the product that must be offered to customers, and the appropriate channel of distribution. How can Zoecon penetrate the roach

Chilldren of Illegal Immigrants Are Not Entitled to Education

Majority would say school is the most important activity in a child’s life growing up. Therefore it is upsetting that not every child is entitled to an education for various circumstances. I think this is wrong, education should be offered to every child weather their race, religion, sex, political affiliation, and even illegal immigrant children. Many people argue, are children of illegal immigrants entitled to a public education? Nearly 41 million immigrants live in the U.S. today, yes only a fraction of those are children but in a typical immigrant family there are usually 2 parents with 2-5 children with more on the way. People can’t start to possibly mean that these children aren’t entitled to a school education. If they don’t get the right education their parents went through hell for no reason to get them here. They wanted a better life for their children; unlike the life that they had. And what we should be giving them is opportunity; we live in the United States of America for gosh sake. I believe that the children of illegal immigrants are entitled to an American education because without one they will not go anywhere in their life and won’t be able to peruse their dreams, how would you like to feel hopeless in ever becoming successful? I personally know 2 families in the city where I reside and they both were children of illegal immigrants and I can tell you one thing they came at the age of 6th and 8th grade and both of these individuals got the American language

The View of Death in the Chinese Culture Essay - 1528 Words

The View of Death in the Chinese Culture In the view of the Chinese common man, life on earth is but a temporary stop on his journey to death and other reincarnations. Since death is viewed as inexorable and inherent in the human condition, the Chinese accepts it with composure. It was a common custom in China, especially in rural areas, for people to have a coffin ready in their houses as a preparation for death that may come ten or twenty years in the future. Well-to-do people used to build their own tombs long before they felt they were approaching death. This composure should not be construed as absence of sadness and regret. The Chinese believe that, in spite of its seamy side, life is still better than death which is†¦show more content†¦There is little concern about death, the world beyond, and spiritual feelings in this religion. Confucius, or Kung Fu-tzo (551-479 B.C.), the founder of this religion, stressed the improvement of the moral self as the basic duty of the individual as well as the statesman. In order to rule the world, one must rule ones country; in order to rule the country, one must rule ones family; and in order to rule the family, one must have control of oneself. Consequently, the improvement of the moral self is the cornerstone of Confucianism. Confucius believed that man is born with an essentially good nature which becomes corrupted in his contact with society. In order to improve his moral self and regain that original good nature with which he was born, man must practice the five cardinal virtues of benevolence, propriety, loyalty, intellect, and trustworthiness. In order to keep harmony in the nation and happiness in the family, man must observe the three basic relationships between sovereign and subject, father and son, and husband and wife. On the national level the basic virtue is loyalty to the sovereign, and on the family level, the basic virtue is filial piety. The ritual expression of filial piety is ancestor worship. Confucius, who is at one and the same time the Socrates, the Solon, and the Lycurgus of the oriental city, speaks often of the spirits and the souls of the dead. It is true that in his philosophical conversations with his disciples, he declines sometimesShow MoreRelatedThe Woman Warrior by Maxine Hong Kingston Essay1208 Words   |  5 PagesAmerican and Chinese cultures. The two cultures have different views of what a ghost is. The Chinese believe the ghost spirits may be of people dead or alive. Chinese culture recognizes foreigners and unfamiliar people as ghosts because, like American ghosts, they are mysterious creatures of the unknown. Americans view ghosts as spirits of the dead that either help or haunt people. American ghosts may or may not be real. There spirits are there but physical appearance is a mystery. Chinese cultureRead MoreEssay on Chinese and American Ghosts (Woman Warrior)1220 Words   |  5 PagesAmerican and Chinese cultures. The two cultures have different views of what a ghost is. The Chinese believe the ghost spirits may be of people dead or alive. Chinese culture recognizes foreigners and unfamiliar people as ghosts because, like American ghosts, they are mysterious creatures of the unknown. Americans view ghosts as spirits of the dead that either help or haunt people. American ghosts may or may not be real. There spirits are there but physical appearance is a mystery. Chinese cultureRead MoreCultural Pluralism And Relativism For The Chinese Culture Essay1180 Words   |  5 PagesIntroduction Death is a universal human experience and is culturally constructed with specific social and ancient practices. 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EachRead MorePalliative Care And End Of Life Care1430 Words   |  6 Pagesimportant part of nursing care. Nurses provide care to the patients of different ethnic backgrounds and cultures (Wang Chan, 2015). In the Chinese culture, the concept of palliative care is still emerging. The issues around death and end of life care are not discussed openly (Ho Sanders, 2015). Decision about end of life care are usually made by the family members in compare to the western culture where decision about end of life care are made mostly by the patients (Ho Sanders, 2015). FurthermoreRead MoreWomen, Indian, And American Cultures969 Words   |  4 PagesChildbirth Positions in Chinese, Indian, and American Cultures Culture is an enormous part of our lives. It can affect every part of our daily living from our health, nutrition, religious beliefs, and communication, to even how one is expected to think and behave. 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Chinese people may try traditional approaches first, and then seek medical careRead MoreBuddhism : A Religion Of Enlightenment And Self Meditation1562 Words   |  7 PagesAD, Buddhism gained a firm position in China and has continued to be one of China’s top religions. Buddhism, in summary, is a religion of enlightenment and self-meditation. The role of the family in Chinese culture, specifically Chinese Buddhist, has evolved throughout history. In the Chinese culture the family structure contains nuclear and extended families. Children are highly valued and elders are respected and honored. Buddha or Buddhism teaches that wives should be obedient to their husbandsRead MoreComparing China And The United States1401 Words   |  6 Pagesprincipals, and culture perspectives. Cross-cultural studies allow a common view of the variations, elements, and aspects of the justice systems. This paper examines the comparison of the justice system in China and the United States. Exploring the ideas and views, which include the confidence in police, informal and formal crime control, and views on capital punishment. China and the United States can be considered comparable in different interpretations, views, and ideas. These cultures are both veryRead MoreConfucianism And Its Influence On Chinese History1713 Words   |  7 Pagesfig ure in the Chinese history. He was a teacher, a philosopher, and also the founder of Confucianism. Confucius’ philosophies, on the other hand, would became well known as Confucianism. Confucianism can be considered as an ancient Chinese philosophy as well as a popular religion in the Chinese history. It is known to be a way of life taught by Confucius. Although being transformed over a long period of time, Confucianism is still the source of values and the social code of the Chinese. It not only

Essay on Education as an Absolute Necessity - 548 Words

Education as an Absolute Necessity Today in American society, higher education has become an absolute necessity. The pride and status that once accompanied a high school diploma is longer existent. In the present day job markets, a college degree has become something of a minimal standard integral in obtaining even a mediocre occupation. However, higher education is an expensive investment that many minorities of the United States have found to be an unattainable reality for themselves and their children. College is without question an unforgettable experience, but only for those who can afford it. Yet, should education be only available to the deep pockets, to those who probably could afford not attending at all. No, I believe†¦show more content†¦The average tuition for a top ranking college ranges between forty and thirty thousand dollars a year. For many minorities these numbers just might as well be in the millions. Usually, many students of color find it very difficult to pay for college. Their parents, who probably hold low paying jobs, never planned ahead for higher education. Therefore, these students must struggle with working part-time jobs and commuting to low-grade universities and public colleges that are close-to-home. I see education as a basic human right that everyone is entitled to. Education instills power and freedom in those who seek it. Many believe that education is for the rich and well off, when in fact education is for those who want it. Yet, how can those who desire it, afford it? Some could argue that the establishment of community colleges and certain programs such as the Higher Education Opportunity Program (HEOP) and C-Step are put in place to help those who otherwise are financial incapable to reach their full potential. I can acknowledge that community colleges are helpful, but extremely inadequate to meet the demands of other private universitys standards. And I believe these programs, such as HEOP and C-Step, are also helpful, but dont entirely meet the needs of the students they are in place to support. For example, these programsShow MoreRelatedRich And Poor By Peter Singer Essay1632 Words   |  7 Pagesarticle Rich and Poor, Peter Singer sees extreme poverty as â€Å"not having enough income to meet the most basic human needs for adequate food, water, shelter, clothing, sanitation, health care or education† (pg. 234). Singer does not fail to compare those in extreme poverty to people who are living in absolute affluence. He suggests that it is the responsibility of those living in affluence to help those who are in need of obtaining even the basic human needs. He also argues that the affluent not helpingRead MorePoverty Is A Problem That Affects Millions Of People On A Daily Basis1387 Words   |  6 Pageswith many critiques one definition has yet to be fully agreed upon. The two definitions that are vastly discussed and debated upon is the absolute and relative poverty dichotomy. This essay will dis cuss the difference between absolute and relative poverty in reference to how they are defined and measured and then it will discuss how they are similar. Absolute poverty derived from the works of Charles Booth and Seebohm Rowntree in the ninetieth and twentieth century. Charles Booth ‘was a BritishRead MorePoverty And Lack Of Poverty1493 Words   |  6 Pagescould be considered a difficult concept to define due to its subjective and personal nature; what poverty means to one person doesn’t necessarily mean the same to another. Different aspects of life including: income, living conditions, access to education, access to nutritional food and clean water are all factors that contribute towards an understanding of what ‘poverty’ actually is. Therefore, deciding whether poverty exists in the United Kingdom is challenging as it is crucial to establish a universalRead MoreTo what extent is reducing the number of people living in absolute poverty sufficient to achieve economic growth and development?1222 Words   |  5 Pagesï » ¿To what extent is reducing the number of people living in absolute poverty suffici ent to achieve economic growth and development? Absolute poverty measures the number of people living below a certain income threshold or the number of households unable to afford certain basic goods and services. Much of the poverty in developing countries, such as South Africa, tends to be absolute poverty. Economic growth can be defined as steady growth in the productive capacity of the economy. Short term growthRead MorePoverty Is A Problem Of Poverty1398 Words   |  6 Pagesmost difficult aspects to change. With enough education and knowledge, poverty will one day be a problem of the past. Many people have different opinions on what poverty means. There are two types of poverty, absolute and relative. Absolute poverty is when the people affected can’t provide themselves with the necessities they need such as shelter, food, water, etc. Relative poverty is poverty in which the people affected are provided with the necessities but live below the standards of others. RelativeRead More Individual and State Roles in Communism According to Marx and Engels1169 Words   |  5 Pagesmeans of communication and transport in the hands of the state [†¦.] Extension of factories and instruments of production owned by the state [†¦] Free education for all children.1 The state obligates itself to control numerous aspects of everyday life. It controls all means of production, communication, transportation, property, credit, money, and education. If the state controls all capital, the government could ensure that every citizen receives the share of the wealth they were entitled to. IndividualsRead MoreThe University Of Texas Of The Permian Basin Essay1002 Words   |  5 Pageswomen are agriculture landowners. There are different types of poverties, relative, absolute and subjective poverty. Relative poverty is a state of living where people can afford necessitates but are unable to meet their society’s average standard of living. Relative poverty is the idea of keeping up with those individuals around you. Second, there is absolute poverty that demonstrates the lack of basic necessities, which include food, clean water, safe housing and access to healthcare. Those whoRead MoreA Reflection On The Educational Action Plan Essay1389 Words   |  6 PagesHowever, the situation needs proper judgment of it by comprehensively monitoring the situation and its severity. The scenario of a pessimistic school with a workforce that needs to be adopting an innovative perspective of viewing things is the absolute necessity of the situation. According to Fullan, the most critical problem that is ever faced by an educational institute is not the resistance to innovation. The critical problem of a ny educational institute is the overload, fragmentation and incoherenceRead MorePoverty : Causes And Consequences Of Poverty1484 Words   |  6 PagesPROFESSOR: BOB GREGORY CAN275NBB (CURRENT CANADIAN ISSUES) TITLE: POVERTY IN CANADA DUE APRIL 12, 2017  SECTION A: Cause and Consequences of Poverty: a) Cause of Poverty: When a country is facing a change in its’ trends such as economy, inadequate education, high rate of divorce, overpopulation, epidemic and spreading diseases such as AIDS, climate and environmental issues such as insufficient rainfall, it could be a potential victim of poverty someday. Poverty is becoming so broad across Canada andRead MoreImportance Of Declaring A Change In Education882 Words   |  4 PagesDeclaring A Change in Education! When in the Course of human events, it becomes necessary for students to dissolve the Educational bands which have connected them with another, and to assume among the authorities of Dorchester 2 County, the separate and equal station to which the Laws of Education and of the entitlement we as students have towards them, a decent respect to the opinions of students in Dorchester 2 County which enables them to declare the causes which impel them to the separation.

Migration Essay Example For Students

Migration Essay MigrationThinking back to my childhood, I can recall that my family moved quite frequently from place to place. Since my birth, my family has moved a total of seven times and that was only in the first six years of my life. As an ignorant child, the constant moving around did not question me to think why we moved so much. I never stopped to think that my family could have been in a troubled situation. When I now ask my father the reasons why we moved so often back then, he tells me that he was in search for a better standard of living. He mentioned that we were never forced to move because of a financial situation, but instead he wanted to find a more rewarding occupation to live more elegantly. He wanted to find a place with a good education system for his children and also wanted to live in a warm climate not too distant from the beach. With these three pull factors we moved many times during my childhood and the end result of our migration has played a positive role in my life. My parents and I lived in the over-populated city of Chicago when I was born. My father wanted to relocate in a place that was not over populated. So with this in his mind, we moved in the south direction to Kansas. He got what he wanted in the terms of a smaller population setting. But he was still dissatisfied with the cold weather. The disappointing business experience and cold weather was a push factor to move on and find a better place to live. After Kansas we moved to Ohio because were persuaded by some relatives that we knew that lived there, but again he was not successful with business there either. In search for a better occupation, my father would look in the classified section of the newspaper every afternoon in search of eye-catching businesses. After he would find a few that he was interested in, he would call them up and arrange to take a look at the businesses. In particular, my father saw an advertisement for a Days Inn in Atlanta, Georgia. A pull factor that encoura ged my father to move to Georgia was because of the wonderful hot weather. He was attracted to the fact that the beach setting was not very far. The business turned out to be a success and we ended up settling in this state. My father also wanted to live in a place where there was a good system of education for his children. Another pull factor that Georgia has is a great school system, so that was another motive to stay. The migration to Georgia from the North has made a great effect to my life. I got the opportunity to get a great education and now Im here at the University of Georgia. My parents are now well off with their successful business and my father is very delighted with the wonderful weather. He takes trips to the beach whenever he gets the urge and enjoys the warm climate. Migration to the South has had a successful result for my family. If my father did not take a risk in the past to move to different locations, our standard of living might not be this wonderful. I am glad that I ended up in a great community where education is important and this is a possible place where I might raise my future family. Words/ Pages : 584 / 24

Conceptual Frameworks for Financial Accounting

Questions: 1. Explain why principles-based standards require a conceptual framework? 2. Why is it important that the IASB and FASB share a common conceptual framework? 3. It is suggested that several parties can benefit from a conceptual framework. Do you consider that a conceptual framework is more important for some parties than others? Explain your reasoning? 4. What is meant by a 'cross-cutting' issue? Suggest some possible examples of cross cutting issues? 5. What you think is the fundamental problem with financial statements based upon the historic cost measurement principle used under US GAAP? 6. What do you think of the principle' accounts must reflect economic reality' as a core principle of measurement in accounting? 7.How would you measure economic reality? 8What is reliability in accounting? 9. The article states that the US standard setter FASB requires companies to record a provision in relation to environmental costs of retiring an asset ('to reserve environmental liabilities') if its fair value could be reasonably estimated. How do you think companies would go about estimating such a provision?10. What aspects of the requirements were used by US companies to defer recognition of a liability? 11. In what ways does the recognition of the liability in relation to future restoration activity affect net profit in the current year and future years; and cash flow in the current and future years? 12. The article refers to changes in disclosure requirements relating to environmental liabilities in many countries around the world. How important is it that companies recognise the liability? To what extent is disclosure about the liability sufficient? Answers: 1. Requirement of conceptual framework The movement towards accounting standards based on the principles is a step towards union between IASB standards and FASB standards. However, the immediate requirement is to comply with the Surbanes-Oxley bill that needs to be based on the principle-based standards of accounting. Standards based on principle are relevant as economically that offer high level of comparison between firms with regard to future cash flow prediction or performance evaluation. The objectives of the standards based on principle require a clear definition under the conceptual framework with regard to the determination of trade-offs among the reliability and relevance and the way in which these will affect the comparability. Some improvements are required in the conceptual framework to recognise and measure the expense and revenue approach as it is a crucial part of the mix. In addition, conceptual framework is required to maintain the clarifications in the report and examine the accounting based on principle to identify the possible divergence between the objectives of the users and the prediction of future cash flows against the performance of the companies. 2. Importance of Common Conceptual Framework for FASB and IASB A common goal of IASB and FASB is their standards to be formed as per the principles. To comply with principles-based, a set of standards shall be followed in elementary concepts. For accounting standards on various problems to result in logical reporting and financial accounting, the elementary concepts required to establish a framework that is comprehensive and internally reliable. Without the supervision assisted by an agreed-upon framework, set standard finishes up with concepts formed by individual member of the standard-setting committee. Another familiar goal of IASB and FASB is for convergence of their standards. The Boards are accomplishing various projects that are targeted for attaining short-term objectives on particular problems, as well as various key projects that are handled either jointly or in coordination with each other. Moreover, the Boards are planning to line up their future outlines more closely with each other in order to attain convergence in future standards. The standards of two Boards will face difficulties in converging their standards if their Board forms decisions on different framework. 3. Importance of Conceptual Framework for various Parties A conceptual framework objective assists in the recognition of the targets and the objectives of preparing annual statements. It also assists in the selection of transactions and identification of the requirement of recording these transactions. The direct beneficiaries of these are IASB and the FASB. These frameworks offers the establishment of set standards, moreover, it offers them the impression through which the accounting tools can be utilized for solving presentation and reporting concerns. On the contrary, conceptual framework offers the board various reasons while selecting the substitutes based on value. The conceptual framework does not supply answer to every query. However, it assist in eradicating some of the conflicting options from the list. 4. Cross-cutting issues: Cross-cutting problems are stated as the topic that have a significant impact on all the operations in a particular ground and therefore special attention must be given. Like gender and environment, cross-cutting issues are crucial to all aspects of development. Mainstreaming of cross cutting issues states that all the initiatives for development must have a positive impact on issues like environment and gender equality. Examples: Some possible examples of cross cutting issues are gender education, peace and value education, standardization of culture, environmental sustainability. 5. Problems with historical cost Historical cost is the measure of worth used in determination of price of an asset existing in the balance sheet is based on the assets original or nominal cost at the time of purchase. This method is used for the assets under the GAAP (generally accepted accounting principles). Problems with historical cost method are as follows: Unrealistic valuation of fixed assets: Under the historical cost method, fixed asset are transacted and presented in the balance sheet at the price for which they were purchased. Alteration in the prices is not taken into consideration. Unrealistic profit: Statement of revenue prepared under unrealistic profit method does not show the actual profit as the earnings are recorded based on the present value whereas the expenditures are recorded at historical value. During the inflation period, profits are overstated. Fair value of financial position is not revealed: Balance sheet includes non-monetary as well as monetary items. Non-monetary items like land, building are shown at historical value whereas monetary items lie cash, creditors, debtors are shown at current value. Therefore, non-monetary items are understated during the period of inflation and balance sheet does not present fair value for the financial position. 6. Accounts must reflect economic reality In accounting, it is normally considered that the accounting must reveal economic and corporate realities. It is very clear that in accounting that it is very crucial to show the real imoact on the economy rather than simply painting the picture of reality. Consequences of real economy arises when the users of financial statements changes their actions or opinions due to the alteration in in the standard of accounting or the method of accounting that has been used in preparing the financial statements. The performance of the firm will also be changed in some extend that what is shown in the financial statements. For examples, due to the changes in accounting, the following things can take place, people start purchasing in less quantities, investing less. Moreover, nothing will be same as before, some people will be in better position and some will be in worst position. Therefore, it is very crucial that the accounts must reflect economic reality. 7. Measurement of economic reality Although most of the apprehension about reliability is connected with the measure of fair value, most of the measures are not clearly followed in the industry. However, much reliance is shown for such measures, at present, the accounting statements are substituted with the processes that are considered reliable. Moreover, in the given study it is stressed that the existing business procedures, the liabilities and assets estimate are based upon evaluation. These evaluations are normally inclusive of the useful life of the fixed assets, selling ability for the stocks, collections of receivable, life of useful equipment, cash flows to be created from the investments and lawsuit in the environment (Pearce, Barbier and Markandya 2013). 8. Reliability in accounting: Accounting reliability refers to whether the financial data can be confirmed and utilized on continuous basis by the creditors and investors with the same outcomes. Generally, reliability states the trustworthiness of the financial reports. If decision makers cannot rely on the financial statements, financial reporting will be proved useless. Due to this reason, the FASB is worried with the reliability of information contained in the financial statement (Manfredi et al.2015). As per the FASB, three attributes that must be followed in preparing the financial statement to be reliable are: Neutrality: To present the information in reliable way, it must be neutral. Financial statements that of the company management that are somewhat biased are expected to report increased profit and are not likely to report the unfavourable events. Neutrality implies that management must prepare completely unbiased statements. Verifiability: Financial statements are regarded as verifiable when it gives same results through using different independent measures. For example, third parties and auditors can evaluate and measure the financial statement and get the same result. Representational faithfulness: It states that the statements must reveal the reality or actual incidences taken place during the year. 9. Provision of Environmental Liability With consideration to the increased worries and awareness about environment, it is been stressed that the companies around the world are pressurised to account for the issues related to environment that are faced by the common public in the society. Thus, it is very important that the companies should make definite provisions for recognition of environmental liability in the carrying procedure of business. Some provisions are there to record and present these transactions in effective way that can be useful for the shareholders. Therefore the accountants are required to adop some principles for recording the environmental liability. Few provisions that are included in the procedure are costing and planning for various activities with providing for provisions based on the on-demand performance and guarantees offered by the businessconcern. Moreover, it is identified that provisions in this regard are required to be made with consideration to the overall effect that these activities ha ve on the overall performance of the company (Evangelinos, Nikolaou and Leal Filho 2015). 10.Requirement of Liability Recognition It is emphasized in the given case that the organizations from United States are forced to abide by the standards developed by US Financial Accounting Standard Board that issued various provisions in 2002 with regard to identification of environmental obligation in the business. As per the provision, the corporations who were following the obligations related to asset retirement were obliged to reserve environmental obligations that are connected with the ultimate retirement of an property. Further, the environmental obligations are retained if the fair value of the property can be calculated in appropriate way. The expansion of these requirements is led towards the development of the procedure of environmental obligation within the business procedure. It has also been identified that through the case study is important for the companies in the US for the establishment and development of their business in their country (Csikszentmihalyi and Larson 2014). 11. The Effect of Recognition of Liability The execution of environmental sustainability results into overall increase in the cost of the organization at the primary stage. The increased amount of expenses is incurred for undertaking various measures. For example, reporting about the CSR in the yearly statements of the company along with considering the shareholders of the company into assurance with regard to the methiods adopted by the management with regard to CSR activities. It is further noticed that high expenses is incurred for the execution of environmental sustainability, thus, it is likely that the profit in the current year will decrease as an outcome of rise in expenditure. However, it is very much likely that the total profit of the company will increase as the overall goodwill of the company is expected to increase in the coming years due to the rise in the CSR methods adopted by firm. The implementation and execution of the CSR measures is important in increasing the profitability and sales of the company due t o overall rise in the goodwill. With the assessment of cash flow, it has been assessed that primarily CSR activities will affect the the cash flow of the company to move outwards. However, as the profitability will start rising, cash flow will be in favour of the company (Arena, Conte and Melacini 2015). 12. Importance of Disclosure of Environmental Liability Environmental liability states the liability on the producers with regard to release of large amount of waste from the manufacturing procedures. It is the outlay of cost that is expensed by the company for polluting surroundings. The rising worries among the people of the society have pressurized the management of various businesses to take efficient measures to progress their activities in environmental sustainability. The policy makers of various companies to implement measures to develop environmental performance uphold considerable amount of budget. With consideration of the rising in the significance of environmental concerns, the substance for the organizations to identify environmental obligation has gained importance in the present times. Thus, it has become very important for the companies to identify environmental obligations within their procedures (Glasson,Therivel and Chadwick 2013). 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