Unintended consequences from Image * #1 Caesars bankruptcy consequences for the image will be their credibility and accountability. * #2 MGM innovation will cause not unintended consequences, it will cause intended consequences of improvement a good image reputation. Navigator: External factors will occur and the manager has little control. * For Caesars unfortunately the bankruptcy has external factors and one of them is competition and manager has little control of it. * MGM has external factors and one of them is also competition, they started the innovation in order to compete.
I would think that disclosing the advisors motives would have a greater impact on the estimator’s decision. This shows that although auditors are required to reveal conflicts of interest to investors, this information does not necessarily impact the investors’ decisions. I would agree with the authors that the provision to disclose conflicts of interest may worsen the problem rather than fix the problem. It makes sense that if the auditors think their disclosure
According to Cotton and Devilly, 2004, psychology debriefing is not always necessary when traumatic stress issues manifests. Cotton and Devilly believe that using crisis intervention stress debriefing (CISD) and the crisis intervention stress management (CISM) were more damaging than helpful. They contemplated intermittent approaches for treating trauma survivors, which they believed could be more counterproductive. Mitchell suggests that Cotton and Devilly’s research was erroneous because psychological debriefing and CISD are not similar, and that psychological debriefing is more of an exclusive therapy. He also stated the CISD works better with group settings.
Cotton and Devilly states that a psychological debriefing does not need to take effect whenever a traumatic stress situation occurs. Cotton and Devilly that in fact using the crisis intervention stress debriefing (CISD) and the crisis intervention stress management (CISM) could do more harm than good. Cotton and Devilly (2004), propose alternative approaches for responding to trauma survivors, which they consider more effective. But Mitchell states the fact that the authors Cotton and Devilly research was inaccurate that psychological debriefing and CISD are not the same and that psychological debriefing was more of an individual therapy and the CISD was more of group and dealt with traumatic stress following a disaster strike. The fact in which that CISD was to be issue to the person or group only after several weeks or months after the disaster and then only if the person wanted the crisis intervention.
* Financial statement disclosure has been expanding * Mandated information disclosure justified b/c it minimizes or reduces a “market failure” to provide information voluntarily. W&Z suggest regulation is a response to market failures associated w/ private production of information. They conclude that market failure arguments are fallacious and disclosure regulation may not achieve a social optimum. In general, they’re arguments are against accounting regulation. Purpose: To review critically anti-regulation arguments and their link to positive accounting theory.
MULTIPLE CHOICE QUESTIONS 1. The statement of cash flows should help investors and creditors assess each of the following except the a. entity's ability to generate future income. b. entity's ability to pay dividends. c. reasons for the difference between net income and net cash provided by operating activities. d. cash investing and financing transactions during the period.
They worked with the RIAs (registered investment advisors) to lower the cost. They ruled out those that did not match the efficient market theory, avoiding purchase stocks in the open market (use block trade) or near announcement date. These are the two examples of avoiding big price changes caused by large purchase or event risk. 2. DFA roughly believed in efficient market theory.
Accounting provides economic information from which users can make decisions, therefore has a clear link to financial stability. The role of accounting in the financial crisis primarily refers to the use of fair value accounting, which allows company’s to measure assets and liabilities based on “the price that would be received to sell an asset or paid to transfer a liability” between knowledgeable, willing market participants, in the revaluation of financial instruments, assets and liabilities (Laux and Leuz 2009, p.827). It has been argued that fair value accounting exacerbated the severity of the financial crisis by both “increasing bank’s leverage in the boom” and worsening banks problems in busts by leading to excessive write-downs (Laux and Leuz 2010). One argued result of fair value accounting during the financial crisis is that banks tried to boost their regulatory capital ratio by selling assets in response to fair value losses, which curtailed lending and further decreased market prices; this in turn triggered a continuous downward cycle of write-downs, capital depletion and asset selling (Badertcher, Burks and
Uncodified constitutions tend not to be entrenched therefore short term amendments can be made which might have negative impacts on citizens. However this can be seen as positive because overtime society changes, therefore some laws may need to be changed to adapt to the current changes in society, like it was easy to enforce anti-terrorist laws whereas that would have been difficult it is was an entrenched constitution. A constitution is a system of rules which describes the structure and powers of the government, the relationship between different parts of government and the relationship between government and citizens. It can further be separated into codified and uncodified. The UK constitution is quite unusual for a westernised democracy.
For a conscientious observer, this double standard should seriously cause him to question the ability of a consequentialist perspective to prescribe satisfactory moral understanding and guidance. By accommodating an agent’s moral feelings only when they are in accord with utility is indicative of a deeper failure to recognize that such feelings are often expressions of the agent’s own projects and commitments. Thus, to achieve an objective standard of right action, utilitarianism ultimately sacrifices the agent’s integrity by making right action irrelevant to those projects and commitments. The first part of my exposition focuses on what Williams sees as the reason for the popularity of consequentialist ethical theories, which is rooted in an illicit jump from thinking about moral kinds of actions to thinking about moral degrees of outcomes. The rest of my exposition explains how this jump directly leads to the