All Men Created Equal Essay - 1091 Words

All Men Created Equal America has undergone incredible hardships as a nation. No issue has had more impact on the development of the American definition of freedom than the issue of slavery. Did the Constitution specify which men were created equal? Surprisingly enough the phrase quot;all men are created equal with certain inalienable rightsquot; did not mean what it does today. The nation was divided on the issue of slavery and the rights of the black man in its early stages as a growing republic. Abraham Lincoln was a brave pioneer who dared to rub his hand against the grain of slavery bringing the original ideals of Americas founders to a new light. He was a man who felt he was witnessing a slow decay in the foundation of the†¦show more content†¦They did not mean to say all were equal in color, size, intellect, moral developments, or social capacity.quot; This statement was perfectly logical. The Declaration goes on to state that the quot;inalienable rightsquot; that human beings have are the rights to quot;life, liberty and the pursuit of happiness.quot; This was the idea which Abraham believed was the quot;standard maxim for free society.quot; Abraham even used a parallel from the Bible. quot;As your Father in Heaven is perfect, be ye also perfect.quot; This quote from Matthew 5:48 was used to illustrate that God had set an impossible goal for us to attain, and in the same way the framers of the Constitution and writers of the Declaration of Independence gave mankind an endeavor to give equality to all mankind. Douglas argued that the writers only meant to give the British citizens in America equal rights to the British citizens then residing in Great Britain. Douglas argument for this hypothesis was: quot;they [the writers] referred to the white race alone, and not to the African, when they declared all men to have been created equalquot; It was terribly wrong because ‘white did not necessarily mean British. Where did this statement leave white immigrants from Germany and France who were not necessarily ‘British? The Declaration was not meant as a mere statement of liberation from Britain but as the basis of aShow MoreRelatedAll Men Are Created Equal1313 Words   |  6 Pagesthe principal of â€Å"all men are created equal†, would discriminate against women. In today’s society, the traditional roles, values, and thoughts placed upon women from prehistoric times still play a central part in the inequality women face every day. The day I no longer have to worry about what I’m wearing will label me as a â€Å"slut,† is the day that women will be thought of as more than just sexual objects. The day I can be praised for my brains instead of my beauty, it the day men and women willRead MoreAll Men Are Created Equal1014 Words   |  5 PagesIn the United States Declaration of Inde pendence, the phrase, â€Å"All men are created equal† is a phrase people refer to, when dealing with equality in America. A feature through the different selections in American Dreams is equality because America is a place where everyone has the same opportunity to achieve anything. Equality and opportunity given to people has evolved since the founding fathers, but there’s been stages in America’s history where equality is only given to specific people, not everyoneRead MoreAll Men Are Created Equal1103 Words   |  5 Pagesis known for its diversity and claims of equality. â€Å"All men are created equal† is a phrase that is associated as an American ideology, though it is not a reality. Not everyone in our country is considered equal, mainly because of the barriers constantly constructed by those who believe to be superior to others. It is no secret that the controversial issue of race continues to strain our country as we pursue to achieve ultimate tolerance for all. To combat inequalities, we must identify the obstaclesRead MoreAll Men Are Not Created Equal Essay1161 Words   |  5 PagesAll Men are Not Created Equal Since the beginnings of our nation’s it has been implied that all people should be viewed as equals but the question is, are all people seen as equal? Our founding fathers wrote that all men were all one of the same. Everyone is familiar with Thomas Jeffersons famous quote, We hold these truths to be self-evident, that all men are created equal.† The passage claims that we are all equal but where is the proof that we are? It was stated in the Declaration of RightsRead MoreAre All Men `` Really Created Equal?1380 Words   |  6 Pages Are all â€Å"men† really created equal? Fitzgerald has men perceive women in an objective way in his novel The Great Gatsby and uses this to show the false reality of the American dream and how it plays on the idea that in America â€Å"all men are equal†. During the 1920’s huge changes were made concerning the roles of women, like getting the the right to vote in 1922, feminist movements, Throughout history women have been negatively objectified and Fitzgerald paints a picture of that using his own valuesRead MoreW. E. Duboiss Niagara Movement1193 Words   |  5 Pagesshould become equal on a social, economical and political level, through the use of emotional diction, reasonable ideas and a dominant tone. DuBois is able to create guilt and shame through his fierce diction regarding â€Å"true Americans.† The feeling of guilt when describing America is essential for the call to action regarding the white bystanders that DuBois is attempting to reach near the beginning of his speech. By saying, â€Å"The battle we wage is not for ourselves alone but for all true AmericansRead MoreEssay on Civil Liberties692 Words   |  3 PagesLife, liberty and the pursuit of happiness, all of which are our God given rights as stated in the Declaration of Independence by Thomas Jefferson in 1776. Liberty is my main focus for this essay. Liberty as defined in the American Heritage Dictionary as the condition of being free from restriction or control, and the right and power to act, believe, or express oneself in a manner of ones own choosing. As Americans we have never quite been truly liberated. The government has always had someRead Moreâ€Å"One Friday Morning† by Langston Hughes 834 Words   |  4 Pagesâ€Å"One Friday Morning† by Langston Hughes Racism and discrimination in general are things that are sadly practically inevitable. It is very unlikely that you ever will be able to find a society with no discrimination at all. Langston Hughes, who is an African-American writer, shows this in his short story â€Å"One Friday Morning†. Langston Hughes sheds light upon things like: The American Dream, equality and The Declaration of Independence. The story is written in the 1950’s which is at the same timeRead MoreAll Men Are Created Equal - Summary Essay1109 Words   |  5 PagesDante’ Lipscomb Professor Hinds English 1113 December 7, 2010 â€Å"We hold these truths to be self-evident, that all men are created equal†. This is a precedent that was established centuries ago to tell the people of its time that there is no man lesser than another. It was set and meant to last for a very long time. Thomas Jefferson was the one who made the phrase famous, but it was his great friend Philip Mazzei who first used the saying through a letter written to Jefferson called â€Å"JointRead MoreThe Declaration Of Independence, All Men Are Created Equal1442 Words   |  6 PagesThe Declaration of Independence states â€Å"all men are created equal.† However, that concept does not contribute to Fredrick Douglass and Red Jacket, who represent two different cultures with a similar dilemma. Both argue the hypocrisy of the document, that only applies to a certain population of the United States of America. In addition, Douglass and Red Jacket are defending their beliefs among the injustices that they have came across with the â€Å"whites†. Even though Red Jacket is speaking up among

Is Affirmative Action Fair Essay - 2381 Words

Is Affirmative Action Fair? A black student has been waiting for that letter of acceptance from the college of her choice. She receives that letter and gets in. At the same time a female white student is also waiting for her letter of acceptance from that same college. The white student receives a rejection letter even though she had higher test scores and a better GPA than the black student. Was this fair to the students? Was it the best outcome for the country in the long run? Many minority students are accepted into colleges and law schools due to their race while at the same time white students are rejected because colleges have to make room for these minorities. The question many colleges are facing now is whether race†¦show more content†¦White, middle class language in a college application essay, they point out, makes a more favorable impression on the normally middle class essay reader who makes a conscious or unconscious connection with the applicant. In a college interview, a well dr essed, articulate, white middle class student will make a better impression than the black product of an inner city school of less quality. White parents have the money to hire private guidance counselors and college admissions coaches. Diversity is a very legitimate issue on college campuses to Liberals. The world is diverse and preparation for personal success and contributions to society must include learning how to function effectively in diversity. The seemingly unsolvable conflicts of Irish Catholics/Protestants and Israelis/Palestinians are in some ways products of people who grew up separated by physical walls. People who have never learned to live together as students can become adults who see the only solution as killing each other. A college needs to have a geographically and an ethnically diverse campus to be well rounded and balanced. Many benefits have come from affirmative action and without it, we as a culture would be stuck in an environment of unrest. In the 1999 article â€Å"Affirmative Action in College and University Admissions: Yes,† the author, Martin Michaelson, has tried to use evidence to show that we need to see affirmative actionShow MoreRelatedIs Affirmative Action Fair1826 Words   |  8 PagesInformal Logic Is Affirmative Action Fair? Brian Addis August 23, 2010 Is Affirmative Action Fair? Affirmative action was created to increase the number of people from certain social groups in employment, education, business, government, and other areas (LaNoue, G., 2010). This policy is geared toward women, and minorities such as African Americans, Asian Americans, Hispanic Americans, American Indians, and disabled people. Generally speaking, Affirmative Action was put intoRead MoreIs Affirmative Action Fair?1067 Words   |  5 PagesHolocaust, The United States has a brutal history of domestic violence, especially the violence committed against Negro citizens. Negro citizens have been victimized by racism, lynching, and beatings due to their inferior status. According to â€Å"Is Affirmative Action Fair?† there have been various practices motivated by racism such as slavery, job discrimination, and segregation. These practices have left African Americans with additional â€Å"negro problems† correlating with the color of their skin. AccordingRead More Affi rmative Action - Is it Fair? Essay764 Words   |  4 PagesAffirmative Action - Is it Fair Affirmative action in theory and in thought is intended to promote the welfare of this country’s minorities by supporting the idea that individuals are equal and should not be judged by race or sex. Therefore, in situations like job and university applications, we should consider minorities to be as feasible a choice for hire as a white male candidate, taking into consideration their background. In short, it tries to give minorities that have been at a disadvantageRead MoreEssay on Affirmative Action Policies912 Words   |  4 Pagesimportance of implementing an affirmative action policy to assist in assuring that the company complies with equal employment opportunity laws. The department has decided that the best action is to contact the members of the board of directors. The Federal Government has passed several laws to prevent employment discrimination, and not complying with these laws can cause serious consequences. The purpose of equal employment opportunity laws are to assist in allowing the fair and nonbiased treatment ofRead MoreAffirmative Action Is Important For Society1649 Words   |  7 Pages Affirmative action Affirmative action is an attempt to address past discriminatory injustices which may be based on gender, race or ethnicity. Affirmative action may take the form of policies and programs which are mostly mandated by governments and designed to bring changes in organizations, companies and educational institutions. Affirmative action is a vital tool which provides qualified people with equal access to educational or professional opportunities that they would otherwise have beenRead MoreAffirmative Action : Is It Really Necessary Today?1347 Words   |  6 PagesJavier Santana March 23, 2017 English 103 Affirmative Action, Affirmative action, it remains present today but is it really necessary in today’s society? Affirmative action is an action favoring those who have suffered from discrimination either past or presently. It was put in place at a time when it was absolutely necessary in society and it was to give people of color the same opportunities as the white majority, the intention was to become more open-minded as a country and inclusive of allRead More Affirmitive Action Essay1106 Words   |  5 Pages Affirmative Action is the name given to programs that try to correct past and ongoing discriminations against women, racial minorities, and others in the work force and in education. The principal goal of Affirmative Action is to create more diversity and equal opportunities in jobs or schools that used to be all or mostly male, white, or both. Affirmative Action programs have been in place only a little over thirty years. Affirmative action works. There are thousands of examples of situations whereRead MoreAffirmative Action in Universities728 Words   |  3 PagesAffirmative Action in University Admissions All across America, universities have been denying highly qualified applicants to accept minorities who are usually less qualified. These admissions processes misuse the basic principle of affirmative action. Affirmative action is a mandate that says that minorities should be given special opportunities. In 1952, when President D.W. Eisenhower was in office, he decided to let the states decide whether or not to use affirmative action (AffirmativeRead MoreAffirmative Action719 Words   |  3 PagesAffirmative Action Generations of families have suffered due unequal laws or prejudices set in place to prevent minorities from growing. Slavery, segregation, separate but equal laws, the trail of tears, failing ESOL classes, unequal pay and so much more effect todays youth and causing history to change slowly if at all. Affirmative action has good intentions and is very much needed in todays world however it sometimes fails doing what it was created to do. The extra points given to theRead MoreAffirmative Action : African American And Hispanic870 Words   |  4 PagesRoberto Santiago’s essay Black and Latino reveals that even though he has been generally underrepresented by his ethnicity, he has led a successful life without affirmative action. Since Santiago was both African American and Hispanic he dealt with identity issues and stereotypes throughout his adolescent life. Even though affirmative action is supposed to make attempts to improve opportunities for groups that were historically excluded it is still a form of discrimination itself. The preference of

Markets Price And Non Price Economics Essay Free Essays

An agreement made where purchasers and Sellerss come in close contact with each other straight or indirectly to sell or purchase goods and services. Categorization of Markets Market Characterisitcs Market TYPE NO.OF Buyers NO. We will write a custom essay sample on Markets Price And Non Price Economics Essay or any similar topic only for you Order Now OF Firms Entry Conditionss Market power Demand snap Merchandise Differentiation Net income maximastion status Pricing Power Perfect competition Many purchasers Many Sellerss Free None Absolutely elastic Homogeneous P=MR=MC=AR=Min AC Monetary value Taker Monopolistic competition Many purchasers Many Sellerss Free Limited Relatively elastic Close Substitutes with differentitated merchandises MC=MR To the extent of their merchandises Oligopoly competition Many purchasers Few Restricted Some Relatively elastic Close replacements, differentiated or homogeneous merchandises MC go throughing through discontinuous MR Uncertain Duopoly competition Many purchasers Two Restricted Divided Relatively elastic Very near replacements – _ Monopoly competition Many purchasers One Restricted Full moon Relatively inelastic No replacements MC=MR Monetary value Maker Monetary value and Non-Price Competition: non monetary value competion may be describe as the selling scheme under which the peculiar house tires to diffrentitate its merchandise from the competitiors merchandise this distinguish is done by the designor workmenship. It can be besides distinguish merchandise by offereing through quality service, client attending, distribustion scheme and other promotional activity. Where as the monetary value competion is refered to when the houses attempts to separate its productfrom the rival by maintaining the monetary value of the merchandise lower than the competitiors one. Now a yearss more houses are engaged with the non monetary value competion though it is really expensive in nature the ground behind that it is more profitable than selling the goods at lower monetary value and avoid the hazards of monetary value war. By and large in oligopoly markets and monopolistic markets are utilizing the non monetary value scheme because in this competions the houses becomes extermely competent with each other. Central of the non monetary value competion is merchandise diffrentiation. Hence the characteristics of merchandise diffrentiation are: Technical criterions Quality criterions Design characteristics Service characteristics Merchandise diffrentiation as the footing of set uping a down ward falling demand curve. This were introduced by the SRAFFA.but the chamberlin suggested that the demand is non merely determined by the pricind scheme of the house but besides by the manner of the merchandise and the services associated with them.he introduces two policy variables ; which are merchandise itself and selling activities. Individual house is incorporated with this dimensions therefore, the demand curve will switch if: The manner, servicesor the merchandising scheme of the house alterations Rivals change their monetary value, end product and servicesor merchandising policies Tastes incomes, pricesor selling policies of merchandise from the other industry alteration Non monetary value competition: Non monetary value competition is applicable to all types of markets except than the monopoly and perfect competition: Perfect competition: exclusion because the in this state of affairs he all merchandise are homogeneous in nature Monopoly: exclusion because the individual marketer is the accountant of Te market so no 1 at that place for the non monetary value competitio Non monetary value determiners of demand: non monetary value deteminants can be described as the any attempt made by the house to prolong in the market to gain the net income and to increse their demand in the market. Following are the some non monetary value determiners of the demand, Tastes and prefrences Income Monetary values of sustitutes Number of purchasers Future outlooks of purchasers Financing footings. As the determiners of demand are of import in the monopolistic market we besides should give equal importance to the determiners of the supply in the non monetary value competition Factor inputs alterations Production technique Change in no of Sellerss in the market Expectation of future alterations in monetary value Advantages of the non monetary value competition ; Consumers gets low monetary values Manufacturers and providers are going more displine in natureto cust down the monetary values. New betterments in engineering Enormous betterment in the quqlity or service Imformation for the consumers leting people to do more informed pick Price snap of the demand: Responsiveness on the snap of the measure demanded of a good or service to a alteration in its monetary value.it gives the per centum alteration in the measure demanded in responses to the 1 % alteration in the monetary value. Price competion is applicable in all types of markets except so perfect competion and monopoly competion. Perfect competion: exclusion because in perfect competion the houses are monetary value takers the monetary value is non decided by the house it is accepted. Monopoly competition: exclusion because in this state of affairs there is a individual marketer in the market who is the decider of the monetary value hence it is non applicable. Price snap of demand with reapect to the markets Perfect competition: in the the perfect competion the elasticiy of edmand is prefectly elastic in nature because all the merchandises availble in this market are homogeneous in the nature. As the homogeneous merchandises are perfect replacement for each other the market becomes extremely recative in nature. monopolistic market: snap of demand is comparatively elastic In nature as the stopping point substitues are availble in the market this substitues are availble with the small diffrention. Oligopoly market: oligopoly market is some how combination of the perfect competition and monopolistic market so the snap of the demand the comparatively high in nature as the all merchandises are homogeneous in nature and they are utility for each other. Duopoly market: in he duopoly market there are merely two Sellerss in the markets with regard to many purchasers. The snap is comparatively elastic because in this state of affairs there are really close substitues are availble for the merchandise. Monopoly market: in this market the snap is comparatively inelastic nature as there is merely one goad the reactivity of the demand for a good to alter in the monetary value of anthoer good.it is measured as the per centum alteration in demand for the first good that occurs in reactivity to % alteration in monetary value or 2nd good. Cross monetary value snap of the perfect competion with regard to replacements: the reactivity of the demand for a good to alter in the monetary value of anthoer good.it is measured as the per centum alteration in demand for the first good that occurs in reactivity to % alteration in monetary value or 2nd good. Cross monetary value snap of the perfect competion with regard to replacements: ucer in the market so the manufacturer is holding the full market poer in the custodies. there is no sustitute availble in the market. Cross monetary value snap of demand with the availble substitues: Cross monetary value snap: the reactivity of the demand for a good to alter in the monetary value of anthoer good.it is measured as the per centum alteration in demand for the first good that occurs in reactivity to % alteration in monetary value or 2nd good. Cross monetary value snap of the perfect competion with regard to replacements: Perfect competiton: the high monetary value cross snap can be seen in this market as the manufacturer Is monetary value taker and non the monetary value shaper. More over that the merchandises are homogeneous in nature which are replacement for each other. Monopolistic competition: there are figure of manufacturers are at that place in the market.du to the high competition the manufacturers are willing to do more market portion so the cross monetary value snap is comparatively high in nature. Oligopoly competition: in this market the cross monetary value snap do issues because in this market. As the replacements are availble in the market with the homogenity or merchandise diffrention. Duopoly competition: there are merely two manufacturers are availble in the markets there are really close replacement for each other and because of this cross monetary value snap is low. Monopoly competition: there is merely one manufacturer in the market and no replacement is availble so there is no inquiry of cross monetary value snap. How to cite Markets Price And Non Price Economics Essay, Essay examples

Factors and Value Relevance of Voluntary †MyAssignmenthelp.com

Question: Discuss about the Factors and Value Relevance of Voluntary. Answer: Introduction The key objective of financial reporting is to offer high quality corporate financial information concerning various economic entities, especially of financial nature, useful in effective decision-making. Such provision of high-quality information is significant because it can assist in influencing stakeholders in making credit, investment, and other decisions that can enhance the overall efficiency of the market. According to the conceptual framework for financial reporting, financial information is useful only if it adheres to the qualitative characteristics. Business owners can utilize such accounting information to undertake a financial analysis of their companies. Without the presence of the proper information, it becomes difficult to take proper decision. The business owners are unable to take proper action if the qualitative features are absent. Such information plays a leading role in influencing the decision-making process. Decision making can be effective when the qualitati ve features are established and presented in a better fashion (Damodaran, 2010). Besides, qualitative characteristics consist of business owners perceived significance of the financial information. Qualitative characteristics of accounting information The fundamental qualitative characteristics are faithful representation and relevance that can enhance the quality of financial reporting. In short, the qualitative features helps in providing a strong foundation for the financial reporting and making decision-making more meaningful in nature. Further, other characteristics like verifiability, timeliness, comparability, and understandability form part of the conceptual framework to enhance decision-usefulness when these are properly established (IASB, 2010). Based on the conceptual framework, accounting information can be regarded as relevant if it possesses the ability to manipulate the financial decisions of users by assisting them to assess present, past, or future scenarios. This means that relevant information must have confirmatory or predictive value. Besides, the predictive value can assist users in assessing the past, future, and present events (Bodie et. al, 2014). Furthermore, to possess predictive value, information must not be in the kind of explicit forecast. Nevertheless, the capability to make anticipations from financial statements is maximized by the kind in which the detail on the past is reported. In addition, information can have confirmatory value if it assists the users in confirming or verifying their prior assessment. On a whole, information can be considered as relevant when it is offered in a timely way so that decision-making can be influenced. The second characteristic is a faithful representation that represents faithfully the events and other transactions it intends to either depict or can reasonably be expected to depict. It involves recognition of all obligations and rights arising from an event and accounting for the event in such a way that depicts its economic substance (Deegan, 2011). The information must be accounted for and represented in relation to the economic substance of a specific transaction and not simply its legal form. Further, the legal form of an event is not often consistent with the financial reality of the transaction. In such circumstances, the reporting of property sale will not faithfully depict the transaction entered into. To sum up, fina ncial statements must represent faithfully every transaction and other events that can assist in giving rise to liabilities, assets, and owners equity. Further, the profit and loss statement of the company must depict the transaction faithfully that can give rise to income and expenditure in a particular period (Bence Nadine, 2012). The third characteristic is materiality that assists in offering guidance as to how a particular transaction must be classified in the financial statements and/or whether it must be disclosed separately instead of being aggregated with other items. Such characteristic assists in dictating any item or transactions that can significantly affect the financial statements, and which must be accounted for utilization of GAAP exclusively (IASB, 2010). In simple words, if an event or cost that happened during the year can influence how an investor must view the company, it must be accounted for utilizing GAAP on the financials. Nevertheless, transactions that a re deemed to be immaterial can be ignored as they cannot influence how such investors can view the financials to make decisions (Fang Jin, 2012). The fourth characteristic is comparability that assists an individual in enabling comparisons within and across the entities. Further, when such comparisons are being made within an organization, information is compared with one financial accounting period to another. For instance, an income of a company is compared for the years 2015, 2016, and 2017. Nevertheless, such qualitative characteristic of financial accounting across organizations can play a key role in enabling evaluation of differences and similarities betwixt various companies. The fifth characteristic is verifiability that plays a key role in corporate reporting as it assures users that the data represents faithfully what it intends to represent. Further, financial information assisted by evidence and other independent individuals can verify them to observe whether such data is faithfully represented or not. In simple words, information in the financial statements is verifiable if it can be easily audited (Mangena, 2007). The sixth characteristic is timeliness that is one of the most vital elements in decision-making. If an individual cannot make a decision in a timely manner, the organization may miss the profits of customers and much more. Therefore, in simple words, timeliness refers to the provision of information to the decision-makers of financial statements inappropriate time so that they are able to influence their decisions. Moreover, such provision of data must not be significantly delayed otherwise it will be minimal or no value to the users (Carol et. al, 2016). The seventh characteristic is understandability that necessitates financial information to be comprehensible or understandable to the users of financial statements with ample knowledge of economic activities and business. Besides, in order to be understandable, information must be p resented concisely and clearly. However, it is inappropriate to discard complicated items in order to make the reports understandable and simple. The last characteristic is Prudence that allows preparers of financial information to exercise prudent views while making a judgment about uncertain transactions like asset lives, provision for doubtful debts, etc (Ibrahim et. al, 2013). The major crux of this qualitative characteristic is that it assists preparers in encountering uncertainties so that expenses and liabilities are not understated, and income and assets are not overstated (Carol et. al, 2016). This is one of the major reasons why it is considered one of the most significant qualitative characteristic. Qualitative characteristics are the attributes that provide usefulness to financial information in the financial statements. Based on the framework, such qualitative characteristics are all vital in nature and various similarities and differences can be found. One may argue that such fundamental characteristics are requirement-enhancing characteristics for information to be highly useful to the users. On a whole, effective judgments can be only made if the qualitative characteristics assist in enhancing the value of corporate reporting, thereby serving as a major tool for enhancement of the companys goodwill as a whole. The thought of the fair value can be defined as the price that can be grabbed by the selling of an asset or can be the price that is required for the shifting of a liability in a particular transaction that forms a bridge between the companies in a market. This definition is as per the AASB 13. The crucial point to be represented by the AASB 13 is to decisions made as in concern with the fair value which can be a boon to the people using the financial statements. In May 2011 the IASB issued a rule for the evaluation of the fair value price, and the topics covered under the IFRS 13 is in correspondence to this rule only. Attention was also paid towards the fair value evaluation in the form of AASB 13 which was issued on September 2011 by the AASB. Increase in the potential and the transparency of the corporate reporting in the form of financial statements is the main motive of following the above rules which would help the users of the financial statements and positively affect their decisions. But it should be noted that categorization of a particular liability or asset is not taken into attention, rather a fair value estimate is the only output as per the need and demand (Whittington, 2008). Many statements against such rules are put up which are broadly explained in the study. Concept of fair value It is already explained that fair value can be defined as the price that can be grabbed by the selling of an asset or can be the price that is required for the shifting of a liability in a particular transaction that forms a bridge between the companies in a market. The base target of the followed concept can be said to be independent of the alteration which takes place with time in the market. For instance, a reduction in the standard of the liabilities and the assets cannot affect the marketing conditions as it always considered as the date of evaluation. It is also seen that the value of an asset is in accordance with the marketing companies. There are some non-profit entities that provide assets for the sake and profit of the public (Porter Norton, 2014). But it may happen that these assets are combined with the others in a way so as to provide profit to the companies as the market never lacks in buyers. This depicts a clear state of demarcation between assets which are used for the same caused. Processes in accordance with a transaction like share-based payments and leasing transactions are started to be eliminated by this concept. It is also estimated that the as per this concept, if a liability or asset is sold the followed process, is genuine in nature going on between the marketing companies (Mark Michael, 2016). Also, this estimate is based on the idea that no ill-equipped transaction related to the liability or asset is recorded in it and only a particular type of process is taken into account. Thus, the concept of fair value can be put up in the circumstances in which the IFRS requires exposure of the evaluation of the fair value. In this concept attention towards the marketing, conditions are also paid. The IFRS 13 acts as a boon to the users of the financial statements by positively affecting their decisions and also helps the companies by disclosing their concealed facts and figures and also evaluates the assets and the liabilities aligned with the fair value price on a recurring or non-recurring form but only after the initial scanning (Libby et. al, 20110. A whole lot of public thinks the concept to be a boon for them but as in accordance with the timely alteration and manipulation in the accounting standards, many a people have raised questions about the effectiveness of such concepts. The reasons of such questioning are the facts that the many alterations made involve the approval of such concepts (IASB, 2010). The usefulness of fair value accounting plays a vital role in influencing the down market in a negative manner. When it comes to the process of evaluation of an asset in a downward manner that happens due to a market fall, the assets lower value can play a pivotal role in increasing the selling of assets at a price that is lower in consideration of the expectation of the seller. However, when there is an absence of the valuation then it is focused on the concept of fair value so that additional downward valuation can be negated. Further, it is even argued that the information that is present in the financials offered by the method of fair value accounting is reliable and relevant only for a specific period (ICSA, 2016). Hence, when the information present in the financials is based on time for the market scenario that is prevailing then any variation in the scenario of the market will lead to a major difference in the present financial projection of the organization. The financials t end to have a change undergoing a difference in the financial projection (Shah, 2013). Hence, to have reliable information, a new financial statement needs to be requested leading to more cost for the organization. This provides a factor of additional charges for the company and the cost of operations are enhanced hence, leading to a burden on the cost of the company. Conclusion It is seen that the AASB 13 pays more attention towards the data required for the evaluation of the fair value, but it to be noted that the upper hand is always of the fair value output. Many times questions has been raised about the profits gained by the users from the concept because at times it is not at all convincing and not at all required. So as a whole the potential of the concept is under question because it is always confusion always prevails about the positive effect of the concept in the accounting framework (Davies Crawford, 2012). The profitability of the concept comes from the dark side because many a time loopholes are detected in the concept. A whole lot of a people believe that the concept of fair value is the best ever way but the changing time has given birth to many manipulative techniques which are not covered in the concepts safety. Finalization of the concept in a proper way is not sure because alterations in the market affect the concept severely. Moreover, users have also stated it as the most important approach because the variations that happened n the accounting standard is a big threat to the present course of action. This report highlights the effective selection of the intangible assets. The main target of the report is to highlight the points and the factors which are related to the evaluation and also the process of identification and the undertaken work procedures of the prevailing accounting standards. In this report, Harvey Norman is selected that is listed on the ASX. The topic of discussion broadly explains the working and the process of evaluation of different terms related to the accounting standards which are necessary to be represented. In todays worlds, the innumerable transaction takes place on a single day and it is a matter of great concern that which transaction are to be stated and which are not be exposed by the company. It is obvious that a bunch of transactions which are depicted in the financial statements can affect the decisions of certain individuals which use the statements for their profits. A specific rule to be followed by all to survive in the market has been set up by the AASB and IASB from a long time. But it is also correct that a single rule is never efficient enough to cope up with the thinking and the dream of every individual. So it is advised that to totally rely on a particular set of rule is a very dumb move by anyone (ASC, 2016). Materiality is the term that must be paid attention and in accordance with it, the transaction necessary to be depicted must be done the same and the negligible ones are free to be neglected in the financial statements. Materiality is a key factor which solely d epends on the amount and size of the transaction which is different for different organizations or companies. This is why materiality is a subjective factor. The differences between companies are the output of the various policies and the methods of survival adopted by them. This is a perfect reason of different materiality for different companies which have demarcations (Williams, 2012). Measurement and recognition All the corporate reports like the financial statements are to be made in accordance with the rules set up by the International Financial Reporting Standard which is IAS 39. The IAS-39 plays a key role in providing input for the intangibles. Credit can be seen as a process that formally welcomes a particular product into the company which can be categorized as either liability or asset or expense or proceeds. Credited products are also included in the financials of the organization in both words and figures (Harvey Norman Holdings Ltd, 2016). Similarly, evaluation is the method to compile the amounts with the key elements. Costs related to intangibles are seen as expenses till they are able to satisfy the conditions of an intangible (Maines Wahlen, 2006). Many times it may happen that the intangible costs get mixed up with the ones spent for increasing the respect of the company. Thats the reason why costumers bill, generated brands are not recognized as intangibles. As in the case of intangibles, it is seen that after their evaluation, their value remains as cost minus gathered amortization. Many a times outlook of the fair value is needed in such cases and this can be grabbed from an active running market. It is so advised that the entry of a product into the financial statements of a company is only possible if it satisfies the four conditions of the accounting standards which are in accordance to the materiality doorsill and the efficiency hold back (Needles Power, 2013). The first situation is definition which can be thought of as recognition stage of a particular product into the financials of the company. The second situation is relevance in which the provided data must be capable enough to affect and alter the decisions of the individuals (Melville, 2013). The third situation is measurability in which the product is necessary to hold a pertinent trait quantifiable amid plenty steadfastness. The last but not the least situation is reliability which gua rantees realistic demonstration, verifiability, and objectivity of financial information. The GAAP is the one that answers all questions to the measurement and recognition requirements (Berk et. al, 2015). Evaluation on Harvey Norman The company Harvey Norman has been for incorporated with intentions and purpose of doing study and for that, the company has carried out work in compiling different and substantial aspects of corporate governance to facilitate the interested and aspiring offshore investors will be able to know regarding the composition and functioning of the Board of an entity. Hence, such aspects are designed proposition in this regard. In the annual report of Harvey Norman, there is mention of the details comprising of composition and selection of the board of directors, independent members, board meetings and the other important informations. In addition, it can be noticed from the report that the company has provided all the applicable details in relation to recognition and measurement of intangible assets. This implies that the companys board has taken an ethical stand in implementing a policy where the business process and accounting are based on prescribed accounting standards (Brealey et. al, 2011). The company trusts that the accounting standard principles are the demonstrative principles that lead to the better business system. Furthermore, regarding the goodwill of the company, the report spells out the in excess of the acquisition cost over the fair value of share against the total attributable assets purchased by the date of procurement. In addition to that, the company Harvey Norman possess plenty of enterprise value that is associated with its cash-generating unit in Australia appraises such as brand image, location premium and other additions to the share of profit (Harvey Norman Holdings Ltd, 2016). This assessment on part of the company engrosses the managements enthusiasm to continue and use such intangible assets in the future growth (Samaha Dahaway, 2010). None-the-less the company has provided its intangible assets are having an everlasting lifespan that is derived at cost minus accumulated impairment losses, as the intangible assets are having an indefinite workable lifespan are not subject to amortization with regard to impairment testing and are evaluated annually for depreciation. The impai rment losses of these assets are perceived as the value by which the carry-forward value of the assets exceeds its recoverable value. Conclusion In conclusion, taking into consideration the detailed analysis, for an effective decision-making process can be undertaken by adapting to in recognition and measurement principles into the system and in the due course of time more focus is being given by professional approach, as it allows and provide assistance in eliminating of mistakes from the book of accounts thereby helping in preparation of healthy financial report of the company. Furthermore, that giving a boost to the decision-making process in the company. The recognition and measurement of intangible assets also provide assistance in assessing the carry forward value of the intangible assets to allow the process of disclosures of the assets can be actualized. Further, the management of Harvey Norman is successful in implementing effective adequate decisions in recognition and measurement of distinctive intangibles such as goodwill and premium etc. In short, the disclosure of all those informations in the financial statemen t by the company can allow the clients in making a suited choice as well as the company in implementing accounting standards. References ASC 2016, Standard-Setting Process, viewed 23 September 2017, https://www.aasb.gov.au/admin/file/content102/c3/Oct_2010_AP_9.3_Conceptual_Framework_Financial_Reporting_2010.pdf Bence, D Nadine, F 2012, The International Accounting Standards Boards Search for a General Purpose Accounting Model, viewed 23 September 2017https://business.curtin.edu.au/files/bence-fry.pdf. Berk, J, DeMarzo, P. Stangeland, D 2015, Corporate Finance, Canadian Toronto: Bodie, Z, Kane, A. Marcus, A. J 2014, Investments, McGraw Hill Brealey, R, Myers, S. Allen, F 2011, Principles of corporate finance, New York: McGraw-Hill/Irwin. Carol, A.A, Brad, P, Prakash J. S, Jodi Y 2016, Exploring the implications of integrated reporting for social investment (disclosures), The British Accounting Review, vol. 48, no. 3, pp. 283296 Damodaran, A 2010, Applied Corporate Finance: A Users Manual, New York: John Wiley Sons Davies, T. Crawford, I 2012, Financial accounting, Harlow, England: Pearson. Deegan, C. M 2011, In Financial accounting theory, North Ryde, N.S.W: McGraw-Hill. Fang, H Jin Y 2012, Listed Corporations' contribution to non-shareholders Stakeholders: Influencing Factors and Value Relevance of Voluntary Disclosure. International Conference on Management Science and Engineering, Dallas USA Harvey Norman Holdings Ltd 2016, Harvey Norman 2016 annual report and accounts 2016, viewed 22 September 2017 https://clients.weblink.com.au/news/pdf/01773983.pdf IASB 2010, The Conceptual Framework for Financial Reporting, viewed 22 September 2017 https://www.aasb.gov.au/admin/file/content102/c3/Oct_2010_AP_9.3_Conceptual_Framework_Financial_Reporting_2010.pdf Ibrahim M, S Osama F Attayah, P 2013, Critical Factors Influencing Voluntary Disclosure: The Palestine Exchange PEX, Global Journal of Management and Business Research Finance, vol. 13 no. 6, pp. 9-15 ICSA 2016, Singapore Financial Reporting Standards, viewed 22 September 2017, https://isca.org.sg/tkc/fr/financial-reporting-standards/singapore/singapore-financial-reporting-standards/ Libby, R., Libby, P and Short, D 2011,Financial accounting, New York: McGraw-Hill/Irwin. Maines, L Wahlen, J 2006, The Nature of Accounting Information Reliability: Inferences from Archival and Experimental Research, Accounting Horizons, vol. 20, no. 4, pp. 389-425. Mangena, M 2007, Disclosure, Corporate Governance and Foreign Share Ownership on the Zimbabwe Stock Exchange, Journal of International Financial Management and Accounting, vol. 18, no. 2, pp. 53- 85 Mark A. C Michael J. P 2016, The timeliness of UK private company financial reporting: Regulatory and economic influences, The British Accounting Review, vol. 48, no. 3, pp. 297315 Melville, A 2013, International Financial Reporting A Practical Guide, 4th edition, Pearson, Education Limited, UK Needles, B.E. Powers, M 2013, Principles of Financial Accounting, Financial Accounting Series: Cengage Learning. Porter, G Norton, C 2014, Financial Accounting: The Impact on Decision Maker, Texas: Cengage Learning Samaha, K. Dahaway, K 2010, Factory influencing corporate disclosure transparency, in the active share trading firms: An Explanatory study, Research in Emerging Economies, vol. 10, pp. 87-118. Shah, P 2013, Financial Accounting, London: Oxford University Press Whittington, G 2008, Harmonization or Discord? The critical role of the IASB conceptual framework review, Journal of Accounting Public Policy, vol. 27, no. 6, pp. 44-56 Williams, J 2012, Financial accounting, New York: McGraw-Hill/Irwin.