Oprah Winfrey’s Leadership Style - 1112 Words

Oprah Winfrey’s Leadership Style In her words, Oprah Winfreys philosophy of philanthropy demonstrates her commitment to giving: Think about what you have to give, not in terms of dollars because I believe that your life is about service. Its about what you came to give the world, to your children, to your family (Harpo Productions). Oprah Gail Winfrey was born January 29, 1954, in Kosciusko, Mississippi. Her father, Vernon Winfrey, was a twenty-one-year-old enlisted man. Her mother, eighteen-year-old Vernita Lee, remained unmarried after Oprahs birth and tried to adjust to single parenthood. Oprah was sent to live with her grandmother and was under her care for the first six years of Oprahs life. Nurtured by love, it was here†¦show more content†¦Her fortune is estimated to be of billions of dollars. She is not only the wealthiest woman; she is also one of the influent of the time. She inspires people in all over the world. She is a great person to follow. She has al l the characteristics a Leader should have, she is honest and has integrity, self-confidence and intelligent but mostly, she also expresses her concern about the humanity and the environment. In my opinion a perfect example of a role model is Oprah Winfrey. Shes an African American who is not only a symbol for black people everywhere, but also a symbol for all people. The Academy of Achievement has referred to Oprah Winfrey as one of the most successful and admirable woman in America. She is a woman that many people across America trust, respect, and look up to. Her ability to capture the hearts of many has distinguished her role in todays society. Oprah has live through a rough childhood, has had a great education, and has received many awards as well as recognition. She wanted to help people around the world, she knew she had a connection with people with different circumstances. In December 2002 the Oprah Winfrey Foundation expanded its global humanitarian efforts; Christmas Kind ness South Africa 2002. Her efforts in providing and giving back to America as well as other parts in the world has gotten her the title of being one of the worlds most influential people. WinfreysShow MoreRelatedThrough the Adlerian Lens: Oprah Winfrey1006 Words   |  5 PagesThrough an Adlerian Lens: Oprah Winfrey Oprah Winfrey is a world-renowned businesswoman and entertainer. She first entered the entertainment industry when she was 19 years old by co-anchoring at her local news station. She kept working upwards by hosting radio shows, hosting her own cable television shows, acting in movies, publishing books and magazines, and launching the Oprah Winfrey Network and Harpo Productions (American Academy of Achievement, 2011). Winfrey is also well known for her philanthropyRead MoreLeadership : Oprah Winfrey s Work1391 Words   |  6 Pages Colleen Gribble Linfield College Leadership Exam 3 Leader: Oprah Winfrey May 12, 2017  Which theory of leadership is most applicable to the approach displayed in Oprah Winfrey’s work? Inspirational leaders come from the worlds of business, politics and even entertainment. Certainly, it seems these are the ones everyone looks up to and they are the ones leading us bravely into the future. Coming from very humble beginnings, Oprah Winfrey uses her story to inspire others to achieveRead MoreCharacteristics Of A Successful Entrepreneur1185 Words   |  5 Pageshave regardless of gender and age. These nine characteristics are: motivation, creativity and persuasiveness, versatility, superb business skills, risk tolerance, drive, vision, flexibility and open-mindedness, and decisiveness. Agrawal, R. (n.d.) Oprah has certainly fulfilled these requirements based on the overview of her background. It is believed that the traits associated with entrepreneurs are typically considered to be masculine traits. Both men and women who self-identified with masculineRead MoreOprah Winfrey Is Not Just A Woman1301 Words   |  6 Pages Oprah Winfrey is not just a woman, she is an in stitution. The multi-billion African-American woman is continuously ranked number one on the Forbes list of most powerful American celebrities. Why is she so extremely successful? The reasons why Oprah Winfrey is on top of Forbes list of most influential American celebrities are primarily her high profile and the many mentions in the press and social networks. Forbes states, â€Å"Unlike most Forbes lists, which are based on earnings or net worth, our annualRead MoreCompare and Contrast Two Leaders1255 Words   |  6 PagesINTRODUCTION This essay will compare and contrast the characteristics of two of America’s female leaders. In analysing the effectiveness of their leadership, this essay will evaluate the traits, personality, history, experience, and values of each leader. The ability to bring people together around shared beliefs and a common organisational purpose to create a sense of belonging is a prerequisite for an effective leader and will formulate the basis of defining an effective leader for the purposeRead MoreBusiness Project979 Words   |  4 Pagesiopasdfghjklzxcvbnmqwwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnm Characteristics of Business Leadership Oprah Winfrey 5/23/2012 Alesia Cleveland David PenkrotBus302 Assignment#2 | Oprah Winfrey revolutionized the talk show market with her unique and natural style and rose to become the host of the most watched daytime show on television, which boasts 22 million viewers daily (three-fourths of whom are women). She is theRead MoreOprah Winfrey : The Biggest Adventure You Can Take1486 Words   |  6 PagesOPRAH WINFREY â€Å"The biggest adventure you can take is to live the life of your dreams.† Oprah lives by this quote because although she had a troubled childhood, she pursued her dreams of being on television. Oprah Winfrey has had a huge impact on society by overcoming her troubled childhood , creating a media empire and give billions of dollars to various charities. These charities include opening an all-girls school in Africa. Born January 29, 1954 on a farm in Kosciusko, MississippiRead MoreAlan Mulally, CEO, Ford Motor Company1453 Words   |  6 Pages Discuss the role of leadership and how it can impact organizational performance. The role of leadership is the most important part of an organization. Leadership is having the ability to influence people to trust, believe and follow the vision. There are several different types of leadership styles such as transactional, leader- member exchange, and authentic to name a few. Transactional leadership appeal to an employe e’s self-interest which involves motivation in some way to get the employeeRead MoreWomen s Leadership Style Of Leadership2061 Words   |  9 Pagesleader can lead in many ways, as well as adopt their own leadership style, to â€Å"tailor-fit† their followers. Men change their leadership styles, so why can’t women? Oprah is a leader first; secondly, she is a woman. Oprah uses three different styles of leadership: Transformational, Servant, and Authentic leadership. Throughout the world, Oprah Winfrey is known for her charismatic style of leadership, commonly referred to as transformational leadership. Transformational leaders are characterized as beingRead MoreLeadership Assignment2070 Words   |  9 Pagesleader? Why? What skills did they demonstrate? Word Count: 1982 EXECUTIVE SUMMARY: Achieving effective leadership is a process. This paper considers the different attributes to becoming an effective leader. The paper firstly defines leadership, and then introduces two modern day business leaders Oprah Winfrey and Bill Gates, giving brief biographies on their lives and leadership qualities. It then outlines characteristics of an effective leader and compares and contrasts the two leaders

The War Of The Vietnam War Essay - 3546 Words

VIETNAM WAR From 1954 to 1975, America fought its longest and costliest war. The Vietnam War created massive disruption to Southeast Asia and tremendous turmoil in American society. Tracing the Path to War Vietnam was part of the Chinese empire for almost a millennium, but gained independence briefly in 938, 1428, and 1802. French colonization of Indochina?consisting of Vietnam, Cambodia, and Laos?began in 1859 with the capture of the city of Saigon, although the first French campaign began in 1858. The end of World War II introduced a worldwide period of anticolonial movements and wars. During the final months of the Pacific war, Japan occupied Indochina and turned it into a protectorate, ousting the French, who had still ruled it throughout most of the war. Subsequent to Japan?s surrender in 1945, Ho Chi Minh (1890-1969), a leader of the Indochinese independence movement, proclaimed the creation of the Democratic Republic of Vietnam (DRV). The United States and its allies agreed to send British troops to disarm the Japanese and obtain control of southern Vietnam and to send Chinese and French troops to administer postwar programs in the city of Hanoi. Soon the French were allowed to negotiate full control of Vietnam. In March 1946, the French declared Vietnam an independent state within the French union. In November 1946, with the French naval bombardment of the seaport of Haiphong, the French challenged the authority of the DRV und the vague framework ofShow MoreRelatedThe War Of Vietnam And The Vietnam War1525 Words   |  7 PagesThe war in Vietnam is The United States and other capitalist bloc countries supported South Vietnam (Republic of Vietnam) against the support by the Soviet Union and other socialist bloc countries of North Vietnam (Democratic Republic of Vietnam) and the Vietcong of war. Which occurred during the Cold War of Vietnam (main battlefield), Laos, and Cambodia. This is the biggest and longtime war in American history during the 1960s (Best 2008). It is also the most significant war after World War IIRead MoreThe War Of The Vietnam War1475 Words   |  6 Pageson one such event, the Vietnam War, came from entertainment-based programs and the play Miss Saigon. Despite heavy coverage in such well-known comedic films as Forrest Gump and Good Morning Vietnam, the true events were anything but a laugh for those involved. In spite of the relative recentness of the events in Vietnam, many of today’s youths know little about the topic. The events in Vietnam raise the ever-present question on the ethics of third party involvement in a war otherwise unrelated toRead MoreThe War Of The Vietnam War1729 Words   |  7 Pagesspread of communism all around the world. This is what lead to the gruesome war that lasted over a deca de in Vietnam. A great deal of social changed happened all over the world, but particularly in America as the Vietnam War dragged on. As people became more aware of the atrocities going on in Southeast Asia, the endless domestic support turned into widespread explosive protest. During the first few years of the Vietnam conflict, Americans full heartedly supported the United States and its governmentRead MoreThe War Of The Vietnam War1379 Words   |  6 Pagestensions over the Vietnam war caused many americans to become divided on the actions taken by the government across seas. Americans questioned whether the government could be trusted. The feeling of betrayal and government secrecy created the â€Å"Credibility Gap,† in which many americans believed that the government no longer was for the people, but for anything else that would benefit the government. The Vietnam War exacerbated the gap between the pro-war traditionalists and anti-war liberals along withRead MoreThe War Of The Vietnam War1430 Words   |  6 Pagesended in 1989, the Vietnam war is still being fought, but on a different battlefield, one of public opinion. Some call this war an atrocity, a war the United States should never have joined. Others call it a crime, committed by the power hungry politicians of the U.S. Now that new information from both sides of the war has surfaced and the wounds of battle have had more time to heal there is yet another opinion emerging. The Vietnam War was in fact only one of many proxy wars fought under the umbrellaRead MoreThe War Of The Vietnam War1155 Words   |  5 PagesThe Vietnam War cost many Americans their lives in the 60s and 70s. Many were drafted into the war by choice and others selectively chosen to join to help America. The contributions made had a major impact on the American side of the Vietnam War. Though many contributions were made none stand out any more than others. It is sometimes said there is always a hero in the war who helped the victory. Wars, however, do not have war heroes because a hero is making an undeniable contribution to the war andRead MoreThe War Of The Vietnam War1592 Words   |  7 PagesThe Vietnam War was said to be one of the most significant wars in the twentieth century. This w ar took place from November 1, 1955 to April 30, 1975. It was at the time, the longest war in American history. Much of the conflict was centered in Vietnam, Laos, and Cambodia. During that time, approximately 58,219 US troops were killed in action. The reason America got involved in the Vietnam War was to stop the spread of communism in South East Asia and beyond. â€Å"America’s involvement in Vietnam derivedRead MoreThe War Of The Vietnam War1204 Words   |  5 Pagesus†¦ When that is the way you are, how do you conduct your life?† The Vietnam War killed over fifty eight thousand Americans and over 61% of the men killed were 21 years or younger. Most Americans are conflicted with the fact whether the Anti War Movement played a factor in prolonging the Vietnamese War. â€Å"In every story there are two sides and in between lies the truth.† Anonymous The United States become involved in Vietnam after the French withdrew when the Republican President Dwight EisenhowerRead MoreThe War Of The Vietnam War877 Words   |  4 PagesAnother big difference in this war was that the Vietnam War was had more disapproval and was more expressive within the American public, unlike the Korean War. The ANITWAR MOVEMENT started in the 1960s this group was never enacted until this era. There was not a group like this in Vietnam, but there were many groups that opposed the war. The main object of these revolts was the American military presence in Indochina. The ANITWAR MOVEMENT caused an influence not only socially, but also in the realmRead MoreThe War Of The Vietnam War1421 Words   |  6 PagesIn July and August of 1972, Jane Fonda made radio broadcasts from Hanoi that changed the way Americans thought of the Vietnam war and of her. To this day, many people view her as a traitor and criticise her actions in Vietnam; however, some people we re truly inspired by her words and what she had to say. Despite people s personal opinions, Fonda was a powerful speaker and knew how to convey her message to her audience. She tried to convince people that the American government and military were the

Evaluating an empirical evaluation of accounting income numbers - Free Essay Example

Sample details Pages: 10 Words: 2862 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Accounting theorists have tested the usefulness of accounting practice which had been agreed with certain analytic model which consist only a few assertions. In each case, they are using a completely analytical approach which has generally been restricted to the extent of comparing the existing practices with the more preferable .One of the major shortcomings of  this method which is completely analytical approach is that it ignores  the extent to which it can predict or explain the observed behavior.   Completely analytical approach has led theorists to claim that  income  numbers cannot be defined substantively,  they lack meaning and are therefore of doubtful utility.   The argument about income numbers argued that accountants should also consider new situations and problems such as price level changes and taxation charges instead of just concentrating on a few problem areas. However, as accounting lacks an all embracing theoretical framework dissimilarities in practice occurred. So, net income becomes incomparable which have no other substantive meaning at all. Hence empirical testing becomes important and compulsory to emphasize that a lack of substantive meaning does not generally imply a lack of utility. Don’t waste time! Our writers will create an original "Evaluating an empirical evaluation of accounting income numbers" essay for you Create order An empirical test tests the agreement as to what real world outcome represents an appropriate test of usefulness. Since accounting income numbers are of special interest to the investors, security prices have been used as the predictive criterion of the investment decision. If an observed revision of stock prices is related with the release of income report then it can be concluded that the information reflected in income numbers is useful. We can also say that the purpose empirical test is to test the relationship between stock price and income numbers. The content and timing if the existing annual net income will be evaluated as the lack of either one of them will vitiate the usefulness of income numbers. Empirical Test The reason to select the behavior of security prices to be the operational test of usefulness is based on the recent developments in Capital Theory. The Capital theory supports the proposition that if the information from income numbers is useful in forming stock prices, capital markets are efficient and unbiased. It means that the market will adjust the stock prices rapidly to the information from income numbers and will not give any chance for abnormal gain. The authors relate the income numbers and security prices based on this theory and they are focusing on the information of a particular firm, not all firms. They construct 2 alternative models which are income regression model and naÃÆ'ƒÂ ¯ve model to show what capital market expects the income to be. Then, they also look into the markets reaction when the expectations been identifying as wrong by using stock return model. Conditional Expectation of Income Changes There is a study shows that about half of the variability in a firms earning per share (EPS) is associated with economy wide effects. So, it indicates that at least part of the change in a firms income can be predicted in the following year. If a firms income is related to other firms income in particular way and there is knowledge about those other firms present income, it can result in the conditional expectation for the firms present income. From this, it shows the difference between the actual change in income and its conditional expectation will be the new information from a firms present income numbers.* However, the difference may come from the policy effects. Seem these 2 effects are felt at the same time, thus their relationship must be estimated jointly. The authors use Ordinary Least Squares (OLS) in estimating the actual change in income. The equation is as below: ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Ij,t-r = 1jt + 2jtÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Mj,t-r + j,t-r ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦(1) a1jt, a2jt : Coefficients from the linear regression ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Ij,t-r : Change in income of firm j ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Mj,t-r : Change in income of all firms in the market (other than firm j) j,t-r : Forecast error / unexpected income change r =1,2,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦,t-1 : Data up to end of previous year In income regression model, the expected change in income for firm j can be predicted by the average income change for the market. ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  j,t = 1jt + 2jtÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Mj,t ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦(2) From equation 1 2, it is obviously showing that the difference is j,t. It is called as forecast error or unexpected income change where is actually the difference between actual income (ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  Ij,t ) and expected income (ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‚  j,t). This forecast error is what we assume to be the new information from a firms present income numbers.* The Markets Reaction Similar as the above, there is also a study states that up to 40% of the variability in stocks monthly rate of return is associated with the market wide effect. The effect of market wide information on monthly rate of return can be estimated by its predicted value of the monthly price relatives of firm js stock on a market index of returns. [PRjm 1] = ÃÆ'†¹Ãƒ ¢Ã¢â€š ¬Ã‚  b1jm + ÃÆ'†¹Ãƒ ¢Ã¢â€š ¬Ã‚  b2jm[Lm 1] + ÃÆ'†¹Ãƒ ¢Ã¢â€š ¬Ã‚  vjm ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦(3) b1j, b2j : Parameters from the linear regression PRjm : Monthly price relative for firm j and month j L : Fishers Combination Investment Performance Index [Lm 1] : Market monthly rate of return Vjm : Stock return residual In this stock return model, the residual, vjm is the difference between realized return and expected return. As the market has been adjust rapid and efficiently to new information, the residual must represents the impact of information, on return of firm js stock. Economtric Issues In income regression model, there is an assumption that the Mj (market index of income) and uj (forecast error) are uncorrelated. This assumption is supported by its alternative model which is naÃÆ'ƒÂ ¯ve model. However, this assumption is violated by the stock return model. Correlation of Mj and uj can be in 2 forms which are inclusion of firm j in Mj or the presence of industry effects. In income regression model, it is obviously shown in the equation 1 that the firm j is not including in Mj. It is estimated that the industry effect just account for at most 10% of the variability in a firms income. Thus, this model belief is that the bias in the estimates is not significant. For naÃÆ'ƒÂ ¯ve model, it is predicted that the present year income will be the same as for last and the uj is just the change in income from prior year. In stock return model, there are 2 violations that Mj. is correlated with residual (vj). The first violation is that return on firm j is included in the Mj. although it is just a small portion. The second violation is that vj is nonzero for certain months around the report dates. It is belief that the bias will have little effect on the result although it is low. Summary The rate of return over a period of a particular firm would reflect only the presence of market-wide information which pertains to all firms in the case where unlikely absence of useful/significant information about the firm over that period. We can identify the effect of individual firms information pertaining by abstracting from market effects. Segregate the unexpected and expected elements of income change. If the income forecast error is negative (actually change in income is less than its conditional expectation) Bad news-predict that if there is some association between accounting income number and stock prices Release of the income number would result in the return on that firms securities being less than would otherwise have been expected. Such a result () would be evidenced by negative behavior in the stock return residuals () around the annual report announcement date. And vice versa for the case of positive forecast error. Data There are 3 classes of data will be used in the empirical test in both regression model and naÃÆ'ƒÂ ¯ve model. They are the contents of income reports (income numbers), the annual report announcement date and the stock price. Income Numbers The income numbers for 1946 through 1966 were obtained from the Standard and Poors Compustat tapes which is a database of financial, statistical and market information on active and inactive companies throughout the world. First, we need to obtain the distributions if the square coefficients of correlation between the changes in the incomes of the individual frims as well as the changes in the markets income index. When estimating the association between the income for a firm and the market, the income of the particular firm should be excluded from the market. In this article, we cannot refer to the existence of autocorrelation in the disturbances when the level of net income and EPS were regressed at a proper index as what was examined in the forerunner article. It is because the method to analyze the stock markets reaction to income numbers in this article presuppose that the income forecast error cannit be predicted at minimum 12 months prior to the announcement date. When the err or is auto-correlated as stated above ( forerunner article) , this presupposition is inappropriate. Annual report Announcement Dates There are 3 kinds of annual report announcements in the Wall Street Journal which are forecast of the income report, preliminary reports and the complete annual report. The Forecast of the income report usually is done shortly after the year end which believed to be inprecise. Therefore, the preliminary report is often become a condensed preview of the annual report. Besides, as the numbers for net income is usually same for both preliminary reports and the complete annual report, the date of the annual report become generally available was assumes to be the date when the preliminary report is published on The Wall Street Journal. Stock price Here, we refer stock price as movement of security prices around the announcement date. Stock price were obtained from the tapes constructed by the Centre for Research in Security Prices. In this article, monthly closing prices on the New York Stock Exchange, adjusted for dividends and capital changes for the period January 1946 to June 1966 were used. Inclusion Criteria However, Firm included in the study must meet the following criteria: Firms earning data must be available on the compustat tapes for each of the years 1946 to 1966 Firms Fiscal year ending at December 31 on The Wall Street Journal. Firms price data on the CRSP tapes must be at least 100 months. Wall Street Journal announcement dates available. The 4 selection criteria may reduce the generality of result as firms selected do not young firms.failed firm, those who do not report on 31 Dec, those which are not presented on Compustat , CRSP tapes and the Wall Street Journal. Results Abnormal Performance Index (API) is a way to study how accounting income numbers are being related to stock returns. It measures the effects of the information at the time it is being disclosed and also the anticipation in the period up to the announcement of annual reports. Define month 0 as the month of the announcement of annual report, API tracks the return over and above the equilibrium rate (excess return) that would be generated from investing one dollar in a company at the end of the month of 12 months prior to the month of annual report announcement and hold to the end of some arbitrary holding period. These excess profits are the result of information arriving which in turn affect returns. From Figure 1, according to 3 variables, the top half is having positive forecast error. This means actual income is more than expected income. For the bottom half, it shows negative forecast error which means actual income is less than expected income. Then, the line divide the two halves consists of all firms and years in total samples. Thus, it is approximately to 1. Positive forecast error can consider as good news for company. Meanwhile, negative forecast error can consider as bad news for company. This is because if the forecast error is positive, it means there is much information is being anticipated and the actual signal at 0 did not contain significant information. The converse situation happens to negative forecast error. They are much information not being anticipated and the actual signal at 0 did contain significant information. Thus, API did affects on the stock returns. Specific Result Signs of the income forecast errors There is some difference between the two regression model variables. From the research conducted, we know that the signs of the income forecast errors for variable (2) will directly influence the signs of the income forecast errors for the variable (1). If variable (2) is positive, most probably variable (1) is positive as well. But if there is a difference among the result for both variables, then we will take into consideration the signs of the income forecast errors for variable (2). While there is few choices between variable (2) and variable (1), variable (3) (the naÃÆ'ƒÂ ¯ve model) is best to show the portfolio of company with negative forecast errors. The naÃÆ'ƒÂ ¯ve model will show the same forecast error as regression model if the change in market income is zero and there is no drift in the income. Bias in the drift downward in the API computed There is a computational bias in the drift downward shown in the sample. But the bias will not affect the interpreting the values of API. This explains why the changes in the bottom panel are tend to be greater to the changes in the top panel; why top panel tend to turn down after month 0 and why the bottom panel tend to persist beyond month of the announcement of report. Definition of income Additional definition of income: Operating income Net income before the nonrecurring items Although the meaning might be slightly different, the result will be quite close even different amount is using to calculate the forecast errors Relationship between sign of the income forecast error and stock return residual The relationship will ne persisted as long as 2 months before the month of announcement of annual report. There are three explanations to explain the relationship: The markets index of income was no known until few firms had announced their income numbers There will be random error in the announcement date The preliminary report are not perceived by the market as final The value of annual net income relative to other sources of information The result shows that accounting income numbers is useful as it related to stock prices. Although annual accounting report is just only one of the many sources of information that available for investors to make their investment decision, this section is also vital in providing some insight into the timeliness of the reports. The first conclusion is about 75 percent of the value of annual net income appears to be offsetting. This means that the 25 percent left is persists, about half of it can be associated with the information consists in the reported income reports. The second conclusion is accounting income numbers capture about half of the net effect of all information available throughout the 12 months preceding their release. Many other bits of information are usually released in the same month as reported income 85 to 90 percent of the net effect of information about annual income is already reflected in security prices by the month of its announcement The period of the annual report is already one-and-one-half months into history. Results are systematically biased against findings in favor of accounting reports due to: The assumption that stock prices are from transactions which have taken place simultaneously at the end of the month The assumption that there are no errors in data The discrete nature of stock prices quotations The presumed validity of the errors in forecast model The regression estimates of the income forecast errors being random variables, which implies that some misclassifications of the true earnings forecast errors are inevitable. Conclusion This paper had made seminal contributions in the accounting research. In fact, this paper was the first regulated effort to study the information content of the accounting income numbers. Thus, it had led to paradigm shift in the models that were earlier analyzed by the accounting theorists The article can be concluded that the information reflected in income numbers is useful because an observed revision of stock prices is related with the release of income report. Besides, this study brings some other issues which can be furthered tested. For example, media by which the market able to anticipate their income need to be identified and the problem faced by the accountants to assess the cost of preparing annual income reports for the more timely interim report. Besides, the relationship between the magnitude of the unexpected income change and the associated stock price adjustment could also be further tested so that it can provide a different way to measure the value of information on income changes. Despite from the bias which mentioned in the data part, one of the most serious limitations remains the assumption of the unidirectional relationship between income and stock prices. It would be credulous to think that only income causes changes in stock prices and not vice versa. Evidence shows that stock prices and income are endogenous in nature thus if the system of simultaneous equations is used to replace simple regression technique, it is believed to be more relevant.

John F. Kennedy Inauguration Speech - 861 Words

At a time of hardships, a generation who had lived a life of war and troubles came together to celebrate the inauguration of the 35th president of the united states. The three pieces analyzed use different methods to portray what exactly went on on that cold January day, but managed to impact the readers and portray John F. Kennedy the same way. His inauguration speech uses different rhetorical terms and Ethos as a method of persuasion. The article Inside Kennedy ´s Inauguration by Eleanor Clit on the other hand, uses Pathos to give an emotional connection. Finally the photo, credited to the United States Army Signal corps uses imagery to capture that historical moment. Regardless of what method they each used they all manage to portray him the same way. As a respected, strong, brilliant and transcendent human being. Each of the three sources, uses unique methods such as ethos, pathos and imagery to portray a similar legacy of John Fitzgerald Kennedy. John F. Kennedy Inauguration speech uses a different style to portray the president s legacy. Here we get to hear a first person account of what he hopes for the nation and what his objectives ultimately are. The prominent method of persuasion used is ethos while there is also a presence of other key rhetorical terms throughout the speech. The readers are compelled to listen and take in all of the words given by John F. Kennedy since there is that sense of trust or credibility in his statements. He has now become arguablyShow MoreRelatedAnalysis Of John F. Kennedys Inauguration Speech716 Words   |  3 Pages John F. Kennedy once said, â€Å"the energy, the faith, the devotion which we bring to this endeavor will light our country and all who serve it-and the glow from that fire can truly light the world.†, impactfully affecting citizens around the world. Furthermore, these were some of the famous words contributing to the start of a new era. While comparing John F. Kennedyà ¢â‚¬â„¢s Address, Inside Kennedy’s Inauguration, 50 Years On, and the documented photo of Kennedy swearing in, a conclusion can be drawn thatRead MoreAnalysis Of John F Kennedy Speech867 Words   |  4 Pagestouched, and from snapshots of his accomplishments. John F. Kennedy’s inaugural address of 1961, his most famous speech, â€Å"Inside Kennedy’s Inauguration, 50 Years On†, an article by Eleanor Clift that gives a detailed description of the president’s inauguration, and an image, â€Å"Inauguration of John F. Kennedy†, by the United States Army Corp, all convey the impact of John F. Kennedy in their own unique fashion. The legacy of John Fitzgerald Kennedy is expressed through a variety of similar and contrastingRead MoreJohn F. Kennedy Inaugural Address1099 Words   |  5 PagesThe Inauguration A great period full various changes and conflicts, the nineteen-sixties wasn’t anything outside of native. From elections, wars, and inequality at its finest things seemed to be consistently moving at all angles and nothing puts a spark on the map brighter than one of our own presidents. It was January 20, 1962 when John Fitzgerald Kennedy took stage to be the thirty-fifth president of the United States. Written by Kennedy in late November of 1960, his inauguration speech goesRead MoreRhetorical Analysis Of John F. Kennedys Speech746 Words   |  3 Pages John Fitzgerald Kennedy was born on May 29, 1917, in Brookline, Massachusetts. As a young man Kennedy rapidly climbed the political latter by initially representing a working class Boston district in the United States Congress, then escalated to the House of Representatives, followed by the United States Senate, and ending with the victorious defeat of his presidential opponent, to become the 35th president of the United States of America. According to theatlantic.com, Kennedy was so wellRead MoreLeslie Cardoso. Leslie Cardoso. Ap English 3. P.3.1082 Words   |  5 Pages  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The JFK Inaugural Address On January 20, 1961, John Fitzgerald Kennedy delivered one of America s few standout inaugural addresses and one of the finest speeches in American history. By invoking the American dream and extending its promise to the rest of the world, Kennedy s speech was an inspirational call to action that resonates even today. John Fitzgerald Kennedy’s Inaugural Address, The article â€Å"Inside Kennedy’s Inauguration, 50 Years on†, and a photograph of the swearing-in ceremonyRead MoreKing Henry V And John F Kennedy Speech Analysis1502 Words   |  7 PagesSpeeches of King Henry V and John F. Kennedy There are various authors whose motives have always been trying to either educate or entertain their audiences via their works and have been basing their writings on politics for centuries. Henry V by William Shakespeare is an ideal example of the manner in which great political writings have been influencing politics for many years including the present day. Various influential and famous political leaders have always been determined to quote variousRead MoreThe Rhetorical Analysis Of John F. Kennedy839 Words   |  4 Pages On January 20, 1961, John Fitzgerald Kennedy became the youngest man to possess presidency in the United States of America. As a young, wealthy man Kennedy rapidly climbed the political ladder by initially representing a working class Boston district in the United States Congress, then continuing on to the House of Representatives, followed by the United States Senate, and ending with the victorious defeat of his presidential opponent, to become the 35th president of the United States. AccordingRead MoreAnalysis Of John F. Kennedy1589 Words   |  7 PagesHistory Project John F. Kennedy was one of the most dynamic and inspiring presidents the country would ever know of. His leadership was impeccable and he motivated people by his charm and charisma. He had several qualities that made him so applauded by people. One of these qualities is the quality of his speech that made him the hero of the country. Not just his country was enchanted with his speeches but also the whole world felt a lot of connection with the words Kennedy spoke. Speech is one of theRead More Rhetorical Analysis of JFKs Inauguration Speech Essay927 Words   |  4 PagesJohn Fitzgerald Kennedy delivered one of the most important American speeches after being sworn in as president on January 20, 1961. His inauguration speech was so influential that it seized the nation’s attention, and quotes from it are still clearly remembered by people today. It is considered one of the best speeches ever written and ever delivered. It presents a strong appeal to pathos, ethos, and logos and accomplishes what any speaker strives for – it speaks straight to the heart of the audienceRead MoreMicroscopic Look At Jfk s Inaugural Address982 Words   |  4 Pagesof 43, John Fitzgerald Kennedy was sworn into office as the 35th President of the United States. As the youngest president of the United States, Kennedy needed to prove to the American citizens that he was a great leader and that they did the right thing to elect him. (History.com) The nig ht before JFK’s inaugural it snowed so hard that many people found it difficult to attend the inauguration, however more than twenty thousand people were in attendance. (Baergen) During the Inauguration, President

Cutting Weight in Combat Sports Free Essays

string(146) " Although cutting weight will never be considered something extremely healthy, there are methods of cutting weight that do less harm to the body\." Cutting Weight in Combat Sports Indira Moores Lo-Ellen Park Secondary School Contents Cutting Weight in Combat Sports3 Cutting Weight in General3 Effects of Extreme Weight Cuts4 Effects on Growth and Development5 Proper Techniques5 Effects on Performance6 Average Cuts7 Prevention of Weight Cutting8 Conclusion8 Works Cited10 Cutting Weight in Combat Sports It is a known fact that to be a competitor at an elite level, one must work hard and make sacrifices. There are many examples of hard working athletes shown through the media. Most of these examples, however, tend to focus on a select few professional sports like hockey, football, basketball and amateur sports like figure skating and track and field. We will write a custom essay sample on Cutting Weight in Combat Sports or any similar topic only for you Order Now Many other sports, are sometimes recognized as being an elite level, but are not nearly as understood because they do not get the exposure from the media, that more ‘popular’ sports do. A lot of combat sports, including wrestling, fall in to this category. Wrestling gets a limited media exposure compared to more popular sports, and as a result, is not well understood. For example, at the Beijing Olympic Games in 2008, Canada earned its first gold medal by wrestler Carol Hyun at weight 49 kg. Yet wrestling was generally not covered extensively over most television networks, (Yardly, 2008). Because combat sports aren’t generally media-popular sports, they are often not understood, which leads to some misconceptions. For instance, they are viewed as more violent compared to other contact sports such as hockey or football, or that it requires less training, (Bina, 2011). However, one of the biggest misconceptions, and the one I am choosing to focus on is that cutting weight, in a sport such as wrestling, is an unhealthy component of the sport with detrimental consequences. That’s not to say that there aren’t extreme examples of dangerous and reckless weight cutting with dire consequences. However weight cutting, when monitored and executed properly, is just another example of hard work and sacrifices that must be made within the sport. Cutting Weight in General Most combat sports are divided into weight classes. This gives athletes the advantage of competing against someone who is relatively their own size. Rather than having a 190 pound athlete compete against a 130 pound athlete. The competitors attend a weigh- in session in which the athletes are weighed and are grouped in to the listed weight class. This is where the concept of cutting weight comes in. Instead of wrestling someone your own size, why not lose weight and wrestle somebody who is smaller? This thought process has become very popular in recent years with wrestlers, especially in North America. Cutting weight is known as the process of losing a lot of weight in a short amount of time. If it is only a few pounds, losing the weight is fairly easy, but if the athlete is trying to drop multiple weight classes in a few days that is when issues arise. Unfortunately, the small amount of attention from the media that wrestling receives is mainly focused on the most extreme cases and negative cases, where athletes refuse liquids for hours, food for days and wear multiple layers of clothing to sweat out the weight. In some cases athletes are dressed in sweat suits and sit in steam rooms at ridiculously high temperatures in attempts to lose the weight. The media has brought the attention to the deaths and the injuries instead of focusing more on the good of the sport. When the process of cutting weight is only viewed in such a negative way, it’s easy to assume that it can be very detrimental to anyone’s body. Effects of Extreme Weight Cuts These extreme cases that the media has focused on are, of course, very unfortunate. These cuts have very harmful effects on the body. First of all, there is the obvious fact that the body is being dehydrated. Dehydration alone, causes the body to be tired and sleepy, causes the body to have a ard time concentrating and can be easily stressed, (Matheney, 2010). An athlete is also more prone to being injured when they are dehydrated, (Matheney, 2010). Dehydration causes the organs in the body to work harder to continue their bodily functions. Examples of this are the heart and the kidneys. The heart pumps blood all over the body after it has been oxygenized. Without the necessary amou nt of water in the body, the heart has to pump stronger and more often, causing it to be over worked. The kidneys filter waste products from the blood stream and without water it cannot filter properly. As a result, dehydration can cause kidney and heart failure. There are also reports of harming the liver during the process of cutting weight, (McAllister,2011). Aside from the physical effects, there are some mental effects on the body as well. Refusing foods and liquids days before a weigh in can increase an athlete’s risk of an eating disorder. Although, it is not necessarily because of the media and pressures to look a certain way, it is caused by the pressures of the team, coaches and themselves to weigh a certain weight. There is also the possibility of hormone imbalances which cause mood swings and depression in athletes, (Matheny, 2010). Effects on Growth and Development Younger, maturing athletes who cut large amounts of weight are more likely to experience hormone imbalances, which is caused by under nutrition. As a result the body’s growth hormone gets altered, which may cause permanent growth impairment if it is repeated over many seasons of wrestling, (Cochan, 2011. ) Any dietary restrictions in children who compete can also be harmful. Children, especially those who compete in intense levels of physical activity need a variety of nutrients. Since they are still growing and developing, many fats and carbohydrates are needed to keep the body fueled. If not, dietary restrictions may also reduce protein nutrition and muscular performance, (Health Canada, 2011). Proper Techniques Although cutting weight will never be considered something extremely healthy, there are methods of cutting weight that do less harm to the body. You read "Cutting Weight in Combat Sports" in category "Essay examples" People can cut weight properly over a long period of time through dieting and water manipulation. A simple low carb diet can help anybody two to three pounds per week. As long as the diet is still feeding the body the necessary nutrients, like water, only a small and necessary amount carbohydrates, proteins, fats, vitamins and minerals, it will still have enough energy to exercise intensely and slowly lose weight, (Landry, 2009). For example, after an intense workout or practice, eating a fruit would benefit the body. The simple sugars are carbohydrates that help replenish muscles after being worked very hard. This can be consumed instead of a calorie-high and carb-loaded protein drink. Another way losing weight that is less harmful to the body is known as water manipulation. Athletes are able to â€Å"trick† their body into thinking that it is consuming more water, then it actually is. For example, in the week leading up to the weigh in, for two days an athlete will drink eight litres of water. He or she will let the body adjust to this enormous amount of water being consumed. Naturally, the body will rid the excess water. After the two days, he or she will cut down to four litres, which is still a large amount. The body is still taking in more water than necessary, and is still ridding a large amount. This can help an athlete lose from 5-7 pounds in the days leading up to a weigh in. Effects on Performance After being dehydrated for an extended period of time, the body takes a prolonged time to rehydrate. According to The Wrestler Diet, by Roger Landry and others, the body intakes â€Å"only about two pints [of water] per hour, and takes up to 48 hours for the water balance tissue in your muscles to be restored,†. Different bodies, however, react differently. Athletes who have been dieting responsibly and are used to competing may be more familiar with restoring their bodies before a tournament. Ioannis Barbas did a study on twelve Greco – Roman wrestlers and how they recovered from the average weight cutting process during the tournament. Through his study he discovered a number of things like which matches in the day were the hardest for most athletes – that being the fourth match- , when the athletes found themselves most tired and so on. He did this by recording performance measurements, muscle damage assessments, and blood sampling before and after every match. He also found that these wrestlers were able to overcome weight loss routines before tournaments and preform very well and up to their usual abilities. Another factor that may affect the performances of combat sport competitors may be improper diets. Other professional and amateur sports that do not focus on weight have the advantage of consuming many high calorie and high carb foods that would fuel the body with necessary nutrients during their competition. Meanwhile, athlete who are concerned about their weight are restricting these types of foods so he or she can make the desired weight class. In other words, these athletes are not getting proper nutrients, which may affect the athlete’s performance, (Smith). However, if the athlete loses the weight responsibly and avoids dehydration as much as possible, the recovery should be maximal. If an athlete has been dehydrated for a short period of time, and rehydrates with water and electrolytes after the weigh in the negative effects should be minimal, (Barbas, 2010). Average Cuts The average amount of weight that is cut by athletes strongly depends on the sport, and the level of competition. For example, professional UFC fighters are going to cut more than a rookie high school wrestler. Professional UFC fighters are known to cut anywhere from 20 to 45 pounds, (Wong, 2010). This is an extremely large amount, but most of it is done over a long period of time and carefully, considering this is what they do as a profession. High school and university level wrestlers could drop a simple five pounds to 15 pounds over time, (McAllister, 2011). Prevention of Weight Cutting With the number of deaths and injuries that have occurred from athletes cutting weight, there had to be changes made. The consequences of cutting weight are very extreme, yet many athletes continue to do so in a very reckless way. In the United States, collegiate wrestling competitions have changed the weigh in date from the evening before the competition, to the day of the competition. This helps reduce the chance of athletes cutting weight by giving them less time to recover after dehydration and starvation. The less time to recover, the less likely the athlete will perform well, and therefore an athlete is less likely to cut. The NCAA has also recently taken many steps to reduce the chances of athletes cutting weight. They have banned competitors of practicing in a room that is hotter than 80 degrees Fahrenheit, self – induced vomiting, and extensive fluid and/or food restrictions, (Loma, 2010). Another common restriction that has been made is the banning of sauna suits. This is a decent compromise to athletes because the act of weight cutting can still be done, but in a much less dangerous way. Sauna suits are very dangerous and can easily overheat an athlete. Conclusion Cutting weight is an unhealthy part of combat sports. Nonetheless, it is a part of the sport. Unfortunately, the small amount of attention the media gives to these combat sports, such as wrestling, tend to be more negative and focused on extreme cases of athletes cutting large amounts of weight. As a result of the lack of attention, the sports are not thoroughly understood, particularly the concept of cutting weight. Cutting weight does have detrimental effects on the body, especially young, growing children. But if it is executed properly, then the negative effects are negligible. If athletes do monitor their weight cutting process over time and very carefully, they will be able to compete near their fullest potential. If cutting weight, and other misconceptions about combat sports had more exposure, it would be understood that cutting weight is just another part of the sport that demonstrates hard work and extreme sacrifices. Works Cited Barbas, I. , (Nov 27th, 2010). , Physiological and performance adaptations of elite Greco-Roman wrestlers during a one-day tournament. , Retrieved from http://www. fila-official. com/images/FILA/documents/stages/2010/Barbas_physiological_performance_adaptations_gr. pdf on Feb 20th, 2012. Bina, A. , (Feb 2011). , Why is College Wrestling Unpopular? Retrieve from How to cite Cutting Weight in Combat Sports, Essay examples

Omaha Beach free essay sample

The beach, termed â€Å"Bloody Omaha†, was considered the most difficult to take because of its rough coastal terrain and the unexpected resistance by top-rate German divisions and inadequate fire support from the allies. However, over the course of the day the American forces were able to breach the Atlantic wall and gain a foothold along the French coast. While we were visiting Normandy, I was able to walk along Omaha Beach and see for myself what the battlefield looked like, though much has changed in the last 65 years. Just trying to imagine what the assault must have been like for any soldier who had to move along the beach under heavy German fire and no supporting fire is unthinkable in my mind. The shear casualty rates that were described on memorials around the beaches really put into perspective the violence that occurred on those beaches in the course of only a day of fighting. This is a picture of Omaha Beach from the Normandy American Cemetery located just off the coast. The hillside clefts down into a steep Cliffside covered with trees and rocks. My own personal experience, the climb down and back up was difficult without anyone shooting; the men who made that climb were true soldiers. The Strategy for D-Day The plans for D-day came about long before the assaults even took place. An attack on the â€Å"Fortress Europe† was planned in early 1942 after the failure of the Dieppe raid earlier that year. The D-day plan â€Å"Operation Overlord† began to take shape in 1943 after the allied forces came to realize the importance of an amphibious attack strategy on the French coastline. The initial planning phase was an argument between Winston Churchill wartime leader for Great Britain and the United States military commanders. The Americans argued for a direct assault on Germany, while Churchill wanted to attack Italy and move up into Germany. The major disagreement dealt with two water to land attacks, Operation Neptune and operation Anvil, the first in northwestern France and the other on the Mediterranean Coast. The British opposed the second as it would drain their forces from the Italian borders at the time. This meant that the majority of the forces that would take part in the attacks would be American soldiers; this would make them the leader in the Allied coalition. One of the problems that the allies would come across when planning the D-day attacks was the increased German fortifications along the French Coastline. The British planners began to develop an artificial harbor that would provide a base for the leaders to strategize until some other ports were captured during the attacks. The first completed draft of Operation Overlord was approved by the Combined Joint Chiefs of Staff in August 1943. The initial plan proposed that Operation Neptune would take place in May 1944 closely followed by Operation Anvil, which would shift all amphibious forces across the English Channel to the Mediterranean. Operation Overlord itself consisted of four main phases. The First, Operation Pointblank, had already been put into action. Its main purpose was to gain superiority in the skies over the future battlefield, by destroying any resistance from the German Luftwaffe, mainly airfields, production factories and fuel depots in the surrounding vicinity. This would also deceive the Germans as to where the American forces would be attacking in the next phase of the attack, Operation Fortitude. The second phase was also an air attack aimed at cutting off communications for the German forces. The allies bombed communications centers, roads, and rail networks to prevent German reinforcements from arriving too soon in the battle. To keep the battles location a secret many of the air attacks took place over Pas de Calais. The third phase, Operation Neptune, would be the amphibious landing on the Normandy beaches. The last phase was to build-up soldiers to reinforce the bridgeheads in preparation for a campaign in France. The German perspective on the allied attacks was most certainly distorted by the deceptive bombings that cut off the German forces along the beaches from the mainland. Hitler felt it unnecessary to heed the old war adage of â€Å"he, who defends everything, defends nothing†. His forces were scattered all over the European continent, Hitler did not know where the main attack would come from until it was too late. With his Luftwaffe decaying due to the American bombings Hitler was unable to muster up air support to defend his territories, he knew an attack was imminent but the Allies had the element of surprise on their side. The consensus of German leaders believed that the main allied attack would occur against either Pas de Calais or the Picardy coast. Allied landings in early 1944 made the Germans more sure, using the landings as a way to displace troops to hold the borders when the allied attacks finally occurred. With Berlin unwilling to send more reserves to hold the borders, the Allies realized the importance of the D-day attacks as a major operation instead of another diversion to demoralize the German resistance. D-Day: The Battle Begins The D-day attacks were originally supposed to occur on June 5th 1944. However, Eisenhower believed that the bad weather and poor conditions in the Channel would have made the attacks nearly impossible. The attacks were postponed until the next day, June 6th 1944. The Germans believed that the bad weather would not dissipate for a few days and that an attack would still be weeks away considering the conditions. This caused the German leaders to lower the alert status to low believing the weather would hinder any allied activities. Late June 5th, the Germans picked up a French resistance radio transmission stating that an allied attack would occur in the next 48 hours, prompting recon planes to sweep the English Channel for any allied activities. Most of the German officers believed it to be a false alarm and did not alert any of the armies about a possible attack. Early the next morning, the allies sent minesweepers to clear a path through any possible minefields, and set markers on the beaches so the allied troops knew where to go( no minefields were found to have been placed in the vicinity of Omaha Beach). At 0300hrs Task Force O naval ships dropped anchor only 25,000 yards away from the beaches to prepare landing crafts. At 0330hrs the first set of assault troops were called to their posts for debarkation, they would load the landing crafts at 0415hrs. Over the next hour landing crafts began to gradually set off from the transports heading for the beach area. The first crafts aimed to arrive at Omaha Beach at 0600hrs. the sea conditions were fairly choppy with waves as high as 6ft, which was causing many of the troops to get very seasick before they even reached the beaches. The German forces became aware of a possible attack when they were alerted of paratroopers dropping in around the area near artillery depots around the beach areas. Around 0310hrs. General Marcks of the German army ordered the corps reserve, Kampfgruppe Meyer, to move towards Montmartin-Deville to keep a route open between the 709th division at Utah beach and the 352nd division t Omaha beach. This would be a fatal decision as more troops would be needed along the beach fronts rather than the roads around the beaches. Around 0320hrs. German artillery positions came under heavy air attack, most of the damage occurred around Pointe du-Hoc. While the air raids took out some of the artillery defending the beaches, the allied transports made their way towards the beaches in cover of darkness. The visibility at the time gave the allied naval ships enough cover to remain unseen until just before the attacks started, which was just enough time for the boats to land on the beaches. At 0545hrs the Task Force O battleships and destroyers began the preliminary bombing of the beach to clear out any German beach positions to give the allies a small spot to land and begin their inland assault. The initial landing plan was to have the boats drop off the troops a short distance from shore leaving a short walk to shore. The first beach landings occurred at 0630hrs. with troops running up the shoreline of the beach. The water was choppy and tanks were not able to make the cross down the beach so they had to be dropped off right at the shore. The divisions were split up into four groups: Fox Red, Fox Green, Easy Red, and Easy Green. This is a map of the first wave that arrived on the beach during the early attack on Omaha Beach. You can see the divisions and the landing sites and where German soldiers were stationed. The first wave came under heavy anti-tank fire which sank many of the incoming tank ships for the allies. German machinegun fire wiped out many of the remaining tanks and a vast majority of the first wave of troops. On all sides of the beach tanks were being wiped out thus limiting the cover fire for the allies as they moved up the beaches. After all the fire subsided only 18 of the 48 regiment tanks landed on shore with the first wave. The first wave of soldiers consisting of 1,450 soldiers began moving up the beaches at 0631hrs. As they left the landing crafts they were bombarded with machinegun fire which would wipe out a vast majority of the front line before they even reached the beaches. Those who reached the beaches had little refuge as there was little to no supporting fire and few bomb craters to hide in against the German gunfire. When compared to the other beaches hat were attacked that day, Omaha Beach was the most difficult to land on because of the sheer machinegun force that was focused on the incoming transport boats. The western end of the beach, the Dog Green Company, drew the most intense fire, slaughtering nearly 90% of the soldiers who were coming to shore. The attacking allies realized that there were more German forces then they had originally expected to be defending Omaha Beach. Unexpected Oppos ition The Allied forces knew that the Germans had an advantage on the beaches. They took refuge on the high ground among the cliffs just off the beaches, giving them excellent vantage points for machinegun fire on the incoming allied soldiers. They had built bunkers into the Cliffside as a base for protection and as cover from possible sea and air bombings that could take out their forces. This is a picture of one of the German bunkers located inland from Omaha Beach. The bunkers provided both cover from enemy fire and a safe spot away from the beaches to take out ships with long range fire. When we walked around the area, you could see how some of the bunkers had been reduced to rubble due to enemy fire. The allies had intelligence stating that the German forces stationed along the beaches of Normandy were all low level soldiers that would not put up much resistance against an allied attack on the beaches. However, unbeknownst to the Americans the Germans has sent divisions of top-rate German soldiers to guard Omaha Beach, making the assault more difficult if not impossible for the incoming allied fighters. With the addition troops that fortified the beaches also came plenty of extra artillery for additional support. The bunkers were built around Bauform 667 anti-tank guns, which were very effective being aimed parallel to the beach. The Bunkers were built into the cliff sides, thus making them extremely sturdy and well hidden from a distance away. They also had a defensive wall on the side facing the sea, so they could withstand attacks from the warships that the allies had just off the coast of Omaha Beach. The guns themselves were armor plated to they could also withstand ranged attacks and still work well enough to continue the attacks on the beach. In total there were 8 anti-tank gun bunkers, two 88mm guns, three 50mm anti-tank guns, and a few other nti-tank guns scatter around the bluffs overlooking the beach area. This made it near impossible to get any landing crafts to shore to drop off tanks and other armaments for the allies. Along with larger defenses came nests of machineguns around the base of the beaches in the dugout pits, which provided safe cover and also a vantage point to shoot at incoming allied boats. Along with barbed-wire fences and the possibility of land mines planted in the fields the A merican troops were caught off guard by the vast size and strength of the German forces that inhabited Omaha Beach. With the higher ground and vast amounts of artillery, the German forces were much stronger then the allied troopers and small band of tanks that made it ashore in the first waves of the D-Day attacks. The Battle for the Beach As what remained of the first wave continued to attack the second wave of reinforcements arrived at the beaches between 0700 and 0800hr. Problems arose with navigation, as the tide began to pick up and push the incoming boats off course, landing along the western shores where there was heavy fire which pined them down. As more and more waves of troops began to land, the beaches became very crowded which made it difficult to move up the beaches and into the bluffs to attack the Germans. By 0800hrs. the tide had risen to 8ft. covering many of the obstacles that lay on the beach and drowning many of the severely wounded soldiers that were stranded at the ends of the beach. Around 0900hrs. the American forces were finally able to create a large gap in the German defenses and began the march through the bluffs towards the German bunkers. The casualty rate steadily decreased and the allies were able to increase their numbers along the beach front. The German bunkers began to take heavy damage and quite a few were destroyed over the course of the day. The picture below is an example of some of the damage that was done to the bunkers that were inland from the beaches. Here is a picture of one of the German bunkers that was inland off the beaches. This shows that the American gunships were still able to have some impact on the battle so far from shore. They were able to take out the heavy German guns that defended against tanks and warships as well. When we walked along the beaches and saw firsthand the damage that had been done to some of the German bunkers, I was taken aback by the great distances that were reached by the allied warships stationed off shore. The damage that was down would have surely killed almost anyone inside the bunker or trapped them inside as the roof collapsed overtop. As troops continued to breech the barbed-wire barriers, the remaining tanks were ordered to assault the German fortifications that were still intact, which were wiping out troops with machinegun fire. Engineers were also hard at work clearing the beaches of obstacles and other debris that was preventing the tanks from moving up the lines. The downside of the increased movement up the beach was the slowed movement of landing crafts dropping off troops because of the debris that cluttered the beaches. This chaotic issue would cause a stalemate on the beach for a few hours leaving some companies stranded waiting for more resources to attack the Germans. The Allied destroyers were ordered to continuously fire on the Germans to keep them preoccupied as the allies regrouped and resupplied. When Pointe du-Hoc was finally taken, after allied troops scaled the cliff side to wipe out German bunker resistance, the American troops had an easier time gaining group back at Omaha. After along afternoon of artillery fire and fighting up the beaches to the bluffs the Americans were finally able to gain a strong position against the Germans who still resided in the beachside bunkers. At 1800hrs. the road to Vierville was finally open and the Germans were completely cut off from resupplying and reinforcements. With other German stronghold falling throughout the afternoon, the Americans had successfully taken Omaha beach after perhaps one of the most difficult beach battles of the war. The End Result By the end of D-Day, the American force had a strong hold on Omaha Beach, holding on to about a mile inland. The plan was not a complete success as they were hoping to gain more territory, but it was not a failure either as they were able to push the Germans back. A total of 34,200 allied troops landed on Omaha beach that day, and the number of casualties will never be completely accurate. What is known is that a vast majority of the men were killed or wounded by the incoming machinegun fire that bombarded the landing crafts and also from drowning on the beaches. The performance of the U. S. Navy during the attacks on Omaha Beach has become an example for current attack measure for naval training today. The German perspective was more pessimistic as they believed the attack would be thwarted during the early morning, with German victory by mid-afternoon. The rate of German causalities is significantly less than those of the Americans, but their losses were substantial none the less. With no reserves in the ranks for the Germans defeat was imminent and so they were forced out of the beaches of Normandy. The success of D-Day on all fronts was a huge morality boost for the Allied forces as it gave them hope of victory in Europe. This first step was a foothold that would grow over the course of the next few months, culminating in recapturing Paris from Hitler in late 1944 and the move into Germany in 1945. Hitler knew that this loss would cause a change in the tides and he began to lose his grip on his territories. The victory at Omaha Beach was a key factor in the Germans eventual defeat and the end of the second World War. Works Cited Zaloga, Steve. D-Day 1944: Omaha Beach. Oxford, Osprey Series  ©2003 Thompson, R. W. D-day: Spearhead of the Invasion. Random House Inc.  ©1968. Lewis, Adrian. Omaha Beach: A Flawed Victory. Journal of Military History: June 2006, Vol. 70, Iss. 3 Personal Journal kept during the trip. Includes documented information seen while in Normandy and pamphlet info. from the beach sites.

Master Of Professional Financial Accountingâ€Myassignmenthelp.Com

Question: Discuss About The Master Of Professional Financial Accounting? Answer: Introduction Ethical issues affect everyone who is related to the business in some way or the other. It is important that the officials who are working for the company takes important steps to make sure that they are morally correct and that their actions are not affecting the overall materiality of the company. There have been several such incidences that have affected the company on ethical ground, and have even led to the downfall of the same. It is thus important that the actions should be ethically corrected. Moral dilemma often leads to a large number of issues and before taking any steps, it must be considered that there are several people who are dependent on the financial reports of the company(Lefkowitz, 2017). Not only the management but other people like the auditors must be very clear about their actions and they should maintain that all the steps that they take helps the investors in providing a true and fair view of the business. In the recent years, one of the most prominent cases was of the downfall of the ABC learning centre that showed how unethical decisions could harm the company and the people who are related to the company. In addition, why it is important to take important decisions, considering the investors who are dependent on the company and its management(DeZoort Harrison, 2016). Analysis ABC learning centre was one of the biggest companies in the educational centre in Australia. The company had hundred of learning centres that provide proper education to a large number of children in Australia. The company went into liquidation after a successful for two decades and there were several reasons that led to the same(Burke Clark, 2016). The backdrop behind all this is the major acquisition and child care support which the company started to give in the early 2000s and the major increase In the number of centres as compared to its major competitors who had barely 100 centres across the world. Will all these acquisitions, they not only capitalized and improved the markets share in the UK but also captured 1% of the markets in the US as well. It grew raiding and aggressively negotiating to deal with Australias largest employers like Department of Defence. It was highly profitable in 2004 -05 and 2005-06 giving the net profits percentage of 17% and 18% respectively on the sales revenue of $292.7 Million and $219.8 Million. In all this process, it kept on increasing its debt triggering a decline in the share prices by 42% in 2007. To meet all these debt obligations, the owner and his wife had to sell all its shares, and thus going on in voluntary liquidation by selling of its US subsidiary in 2008(Knechel Salterio, 2016 ). Despite all this, it fell into receivership because of increase in the debt servicing obligations due to which the auditor could not sign the financial statements. Even though the then federal government injected funds in the company, but it was still delisted from SP and Australian Stock exchange on account of creditors voluntary winding up in this case(Brannen, 2016). The major ethical issues that were involved in the overall scenario were the stand of the management and the auditors. They falsified the reports to book profits that they earn from loss making units and showed the same in their financial reports. As an auditor, it is important that the auditor maintain proper scepticism in their approach. They should given an honest opinion on the financials of the company and make sure that the true and fair view of the company is stated in his reports. However, in the given case the auditors Pitcher plan, work as per the discretion of the management and gave an opinion that was influenced by the decisions of the management. It showed that the company was very profitable and the books of accounting were free from all kind of issues and were error free. However when the new auditors ENY looked into the financial statements after taking over from the previous auditor, they saw that the stand of the previous auditor was entirely different from their v iew. The company was incurring losses and no disclosure in respect of the same was given. The auditor asked the management to do the necessary changes and update its accounts. However, the management of the company refused to follow the same. This led to a lot of probe in the matter and the auditor found that the management of the company had very less internal control measures that had led to the same. It was important that the management should have disclosed all the relevant facts that were affecting the materiality of the company(Jones, 2017). The previous auditor was static on its stand that the company was performing well and that the only job of the auditor is to comment on the matters that it found to be erroneous and not go into the matter. In cases where he finds that, there are certain issues involved, in that case the auditor needs to comment on the validity of the accounts and look into the matter. The new auditor Ernst and young was also static on its views that the company had falsified its accounts. This led to many issues, a third firm was appointed to look into the matter and comment on the stand of the auditors. However, the new firm could not take any stand and was not able to prove any opinion wrong. This affected the overall image of the company and when it was further inquired, it led to the liquidation of the company. The main point here is that the auditor faced ethical dilemma when the management of the company to provide reports as per their recommendations interrupted them. It is important that audi tor must not let such issues affect him in any way and take necessary steps that are free from any moral dilemma(Raiborn, Butler, Martin, 2016). As an auditor, the work is to give unbiased opinions on the financial reports of the company. This duty should supersede all the other duties that the management wants the company to perform. The audit report should be true and in cases where the auditor is found guilty than he will be penalized for the same(Sonu, Ahn, Choi, 2017). Thus, we see how the issue of ethical dilemma led to one of the biggest accounting and financial company that was eventually liquidated. Thus, the management of the company must take important steps to avoid the same. Liquidation affects the investors who are dependent on the company. If the company liquidates, large numbers of people are affected. It is thus important that necessary steps must be taken to avoid the same; this will help the investors and the other parties who are dependent on the company(Sonu, Ahn, Choi, 2017). Conclusion Through the above analysis, we saw how a company can be affected and how important it is for a professional to maintain its stand on the ethical grounds. That will only suffice the important criteria of true and fair view of marinating the financial statements making sure that they are free from all kind of errors. The overall scale of profitability of the liquidated company was much more than its peers; this raised a question on the validation of the accounts. There were many assumptions that the company had done that showed that the books were not maintained ethically. This liquidation affected a large number of parties. Thus before companies take such steps they must think about the various stakeholders. The one lesson that can be learnt from the downfall of the company is that we should try to maintain ethical practices as much as possible and should never go for falsification of the records. If the company in any way frauds, it is the responsibility of the auditor to look into t he matter and comment on the same(Guragai, Hunt, Neri, Taylor, 2017). The audit opinion must be unbiased and should not be influenced by the company or its peers. In the given case, the previous auditor pitcher plant worked as per the suggestions of the management and that had affected the overall audit report which was proved to be tampered and showed a wrong impression about the company accounts. It is thus important that important policies and procedures must be undertaken; no external pressure must be there. In addition, all the issues that are faced and all that might affect the overall profitability of the company must be stated and disclosed in the financial statements of the company(Abbott, Daugherty, Parker, Peters, 2016). References Abbott, L., Daugherty, B., Parker, S., Peters, G. (2016). INTERNAL AUDIT QUALITY AND FINANCIAL REPORTING QUALITY: THE JOINT IMPORTANCE OF INDEPENDENCE AND COMPETENCE. Journal of Accounting Research , 54 (1), 3-40. Brannen, J. (2016). Mixing Methods: Qualitative and Quantitative Research. NY: Ashgate Publishing. Burke, J., Clark, C. (2016). The business case for integrated reporting: Insights from leading practitioners, regulators, and academics. Business Horizons , 59 (3), 273-283. DeZoort, F., Harrison, P. (2016). Understanding Auditors sense of Responsibility for detecting fraud within organization. Journal of Business Ethics , 1-18. Guragai, B., Hunt, N., Neri, M., Taylor, E. (2017). Accounting Information Systems and Ethics Research: Review, Synthesis, and the Future. Journal of Information Systems: Summer 2017 , 31 (2), 65-81. Jones, P. (2017). Statistical Sampling and Risk Analysis in Auditing. NY: Routledge. Knechel, W., Salterio, S. (2016). Auditing:Assurance and Risk (fourth ed.). New York: Routledge. Lefkowitz, J. (2017). Ethics and Values in Industrial-Organizational Psychology, Second Edition (second ed.). NY: Routledge. Raiborn, C., Butler, J., Martin, K. (2016). The internal audit function: A prerequisite for Good Governance. Journal of Corporate Accounting and Finance , 28 (2), 10-21. Sonu, C., Ahn, H., Choi, A. (2017). Audit fee pressure and audit risk: evidence from the financial crisis of 2008. Asia-Pacific Journal of Accounting Economics , 24 (1-2), 127-144.