Finance and Accounting Individual Assignment Essay

Finance and Accounting Individual Assignment - Essay Example It was later reorganized in 2001 to become the International Accounting Standards Board (IASB). In 1973 the Financial Accounting Standards Board (FASB) was also born. The accounting standards that the FASB helps formulate for accountants in the United States are the generally accepted accounting principles (GAAP). Over 100 countries around the world are currently using the international financial reporting standards (IFRS) created by the IASB. The amount of countries that have adopted the IFRS has drastically increase in the 21st century since prior to 2002 only eight countries were using IFRS (Fasb, 2011). In the 1990s the concept of accounting convergence began to raise interest among the business community which caught the attention of FASB and IASC. In 1994 the FASB and IASC undertook their first standard setting project together. The purpose of the project was to improve the earnings per share (EPS) standards to eliminate any differences in the calculation of the metric between the two standard setting bodies. The following year both standard setting bodies collaborated in another project whose purpose was to compare the U.S. GAAP and the IASC standards. Once the IASC was converted into the IASB in 2001 the pace of convergence accelerated a lot. One of the major events that helped the IASB gain credibility worldwide was the adoption of the European Union of IFRS. A project that was signed in 2002 in which the FASB and IASB agreed to improve convergence between U.S. GAAP and IFRS was the Norwalk Agreement. â€Å"The Norwalk Agreement set out the shared goal of developing compatible, high-quality accounting standards that could be used for both domestic and cross-border financial reporting† (Fasb, 2011). In 2006 the FASB and IASB issues a Memorandum of Understanding that created a two year deadline to achieve greater progress in the convergence project by 2008. In 2007 the Securities and Exchange Commission released a concept released that allowed com panies the optional use of IFRS by U.S issuers in the financial statements filed by companies for the SEC. Another sign of progress in the convergence project was the creation in 2007 of a converged standard by the FASB and IASB for business combinations. In 2008 the SEC issued a proposed roadmap to adoption of IFRS in the United States and a proposed rule on optional early use of IFRS. The latest update on the convergence project was issued on April 21, 2011 in a document called Progress Report on IASB-FASB Convergence Work (Fasb, 2011). The MSA program is a great opportunity for me to develop my skills and abilities in the accounting profession. In the competitive work environment of the 21st century gaining a graduate education can give me a competitive advantage over other candidates. In the United States only about 6.8% of the population has a master’s degree (Info, 2005). The five courses accounting courses in the UOP MSA curriculum look like outstanding courses that wi ll help me gain more specialized knowledge in accounting. I am looking very forward to taking the forensic accounting course. â€Å"Forensic accounting is a specialty requiring the integration of investigative, accounting, and auditing skills† (Answers, 2011). Forensic accounting can be used by corporations to solve legal problems. Once I complete this program the doors of opportunity are going to open for me. Accounting is one of the hottest professional fields. Due to the complexity

Juno American Feature Film Essay Example | Topics and Well Written Essays - 1000 words

Juno American Feature Film - Essay Example Juno has a very basic story line as well as concept attached to the tale; it is about a young girl trying to explore the nooks and crannies of intimacy and relationships without understanding the implications that might arise along with the same. The film has been directed in a very concise manner making use of pencil stylized ‘rotoscoped’ images right from the credits in the beginning, making use of animation in order to help the audience understand the maturity level of the girl and the kind of colourful life that she always wanted to live for herself. This entire sequence took a period of seven to eight months to be mastered as each and every shot that follows Juno on her way to the medical pharmacy was taken in short screenings. The set design is incredible, assisting in providing the film with a touch of wonder. The various characters within the movie have been portrayed in a very interesting manner. The director has taken his time to choose the main protagonists an d provide them with a different twist. Juno is a young teenage girl who comes off a little strong on the first meeting with everyone. The lighting during the course of the film is a light and well maintained one without any qualms as such, helping to show the warmth emanating from the characters at different points throughout the course of the movie. Full of sarcasm, Juno helps to put an indie spin in the movie and gives a very intense performance with her dominating nature and need to control everything that might not even be in her reach. However, she understands where she went wrong by getting pregnant but decides to bring about a change in a couple’s life with the help of her baby who she is willing to give up in order to make someone else happy. There was a vast amount of dramatisation in the film played by the other characters, namely Juno’s parents which helped to calm the situation by making her understand what she had gone through, and helping her come out wit h a solution rather than screaming at her and making her feel the pain of the implications and consequences that she was already suffering. The two characters acted in an excellent manner, almost very real and lifelike, helping parents all around to understand how to cope with their children if they befall such a similar situation in their future. The entire design of the film is based on the four seasons of the year and the film has thus been divided into four aspects with different materials used to give the picture of the various seasons that passed by. For example, the use of fake flora and flowers were made in order to depict spring taking place. Fans were used in order to blow leaves and flowers around in order to show autumn and the shedding of leaves and trees. The use of fake cherry blossom trees were also made to make the set look more real. Different colours were also used wisely by the director as he tried to use each colour to signify the weather on the outside. For exa mple, the opening sequence of the movie shows Juno walking in a red hoodie jacket, walking through sombre coloured green and brown lush greenery around her (Sciretta). Juno’s bedroom as well was a very cleverly designed set as it helped to appeal to the minds of most young teenagers, showing how most young people keep their rooms; messy as