ACCOUNTING THEORY Essay Example | Topics and Well Written Essays - 2000 words

ACCOUNTING THEORY - Essay Example Among these are the ground concepts that may be used in the formulation of accounting theories among other aspects of accounting theories. Some contend that in the beginning many primitive societies, those that were in existent in the earliest days, developed the art of counting before developing the art of naming (Brown, 2006, 3). These primitive forms of accounting for the number of items provide the basis by which early societies may be said to have been practicing accounting. Such groups are likes of the Egyptian with the need to account for grain harvested and stored. Examples of other such systems may be found in other early civilizations such as the Greeks and the Tibetans. Over time these systems of accounting for various items moved into the business world. This was in earlier European and Asian countries that mostly participated in trade with one another and within their countries. One will find evidence of the differences in practices among the various countries to indicat e differentiation in as far as the earlier practice of accounting is concerned. There is also need to mention the contribution of the likes of Luca Pacioli who made contributions to the earlier forms of accounting (Riahi-Belkaoui, 2005, 3). He is credited with developing the double entry system of bookkeeping that is still widely taught and practiced in accounting spheres to date. It is though that over time this Italian system of accounting was adopted in most parts of the world. In the United States various forms of accounting methodologies were also being applied. These methods may not have been allowed for uniformity, due to the differences in the underlying guidelines. These theories were to be streamlined with the development of bodies such as the SEC which became the ultimate authority as far as providing guidance on accounting related matters (Previtis, Walton & Wolnizer, 2011, 121). Accounting theory development The development of accounting theory on the other hand may be said to have progressed with the developments that were being experienced in the accounting field. Their development was also being fueled by the changes that were occurring in corporate world. A good example may be the case with the development of the railway that led to the growth of the stock market for the purposes of raising needed financing. This growth in a whole industry catapulted the need to develop theories to be used in corporate financing deals (Schroeder, Clark & Cathey, 2011, 4). The current environment The recent financial crisis affected the world in a way that most did not see coming. This crisis also exposed a lot of the misdeeds that have been happening in the financial world. The effect is that there has been an increase in the oversight that is being paid to these sectors of the economy. Accountants and the accounting theories that they choose to use are being placed under greater scrutiny by various bodies. This is in a bid to try and prevent the recurrence of another crisis. The major concern being caused by the derivatives that have come to play a major part in corporate entities and that may have carried some blame when it comes to the causal effect of the crisis. Accounting for these derivatives requires additional accounting regulations as compared to other marketable securities (Stickney, 2010, 579). Accounting theory definition Before an in depth analysis and look at the various theories and how they affect the accounting world, one needs to be aware of the definition or the basic characteristics of an accounting theory. Dictionaries place the definition as, well organized knowledge that can be applied in a wide variety of situations. These are principles and assumptions that can be used to predict how a given

Latinos Communityeth Essay Example | Topics and Well Written Essays - 1750 words

Latinos Communityeth - Essay Example Latinos is a term used for the people who belong to Latin America. This region consists of each countries, each with their unique language, culture and identity. But their immigration to other countries of the world like United States of America and Spain have crushed their individual identity and made them popular as a collective unit, yet considered a minority and treated with biases and prejudice. This discrimination and highlight of a community aspect of Latinos has been mostly brought forward by the Spanish media, whether it be the television, newspapers, radio or the likes. Such media propogation by any country gives further impetus to different countries to form stereotypes and biases for these people. An Argentinian has a totally different culture than the Bolivian who lives in U.S., a Brazilian has different beliefs than a Colombian who works in U.S. and Ecuadorian will have different thought processes than a person from Panama who study together in U.S. Such differences nee d to be highlighted. Latin America's rich and diverse culture needs to be brought in front of the world but what media does is only show a cross-section of population from Latin America, collectively labels them as Latinos and ignores the diversity available in the region. This is an important topic to address as it wants to... Other topics would just have been an addition to the database of various papers who talk about Latinos. But talking about the injustice that they go through and the situation of being referred to as "Latinos" puts them in an advantageous position as a community and at a disadvantage when it comes to their individuality. This ambiguous situation is difficult to weigh and talked about rarely. The Latinos know what they go through but I, being a student, subjected to the study of Latino culture, want to unravel their range of cultures and individuality as written and argued by prominent authors. Many authors have written on the subject of Latino identity in U.S. and propogation by the Spanish Media. Let us analyse each book and what went in the writing of each: LATIN AMERICA AND ITS PEOPLE, VOLUME I This book has been beautifully penned down in unity by Martin C. and Wasserman, M. They have talked about Latin America till the 1830s. The writers have emphasized on the relationship that Latin America had with Spain. It got a kick start when Latin America got most of Spain's colonies, only with the exception of Cuba and Peurto Rico. This was the harvesting of the seeds of enmity in the heart of Spain. They had lost all their colonies to Latin America and therefore, from them onwards till date, they have used their media as a powerful tool against the Latinos. They are clever enough not to declare open wars against them, but are satisfied by what little damage they can create throught their media. The author has focused on all sides of Latin America, be it be social, political, environmental and cultural history. It does not focus on Latin America country by country, rather takes an all-region approach. But nonetheless, it does not ignore the