Financial Reporting Systems of Germany and the Netherlands

Financial Reporting Systems of Germany and the Netherlands Nobes (1998) classifies the German financial reporting system as a Type B (weak equity) and The Netherlands as Type A (strong equity). Compare the financial reporting systems of Germany and The Netherlands. National differences have all become stereotypical. Indeed the differences between countries may be vast. Influences such as family origin, or attitudes towards business culture are inherently reflected in the way businesses are run, managed and owned. There are also many reasons as to why there are differences in financial reporting. These depend on the character of the national legal system, the type of industry financing, the interrelationship between tax and finance reporting systems, the extent of accounting theory progression and even language.(Elliott, 2006)[1] In terms of the legal system between Germany and the Netherlands, it is clear tat they both follow a civil law system which is different to the common la procedure of the United Kingdom contained within the Companies Act 1981.[2] However, for the purposes of this essay, I will focus on the comparisons between the financial supporting systems of German and the Netherlands with regards to the Nobes’ (1998) classification of Germany being a weak equity (Type B) while the Netherlands in a strong Equity (Type A). I will consider Nobes’ theory by considering equity figures for both Germany and the Netherlands in respect of their types of equity and will briefly compare the financial reporting systems of the two countries. Although equity is represented in many different forms, it is generally defined as â€Å"the value of a company which is the property of its ordinary shareholders (the company’s assets less its liabilities, not including the ordinary share capital)[3] In terms of financial accounting reporting, considerations of which is the relevant way of financing a business, i.e. the information required by equity investors are different to those of load creditors. Strong equity can be defined as a high ratio between equity market capitalisation and Gross Domestic Product (GDP) whilst weak equity is a low ratio between market capitalisation and Gross Domestic Product (GDP).[4] I, Germany had the lowest equity of 5 countries which were studied. (49%). This shows that unlike America, France or presumably the Netherlands, Germany does not rely heavily on individual investors. Specifically, Nobes (1998) develops a frameork that seek to explain the differences in international accounting. Nobes catagorises accounting systems into two types: Class A (accounting for outside shareholders) and Class B (accounting for tax and creditors). Two variables determine whether a country will have a Class A or a Class B accounting system: (1) the type of culture and (2) the strength of the equity-outsider financing system. According to the model, countries with Type A cultures have developed strong outsider-equity financing systems that have led to the development of a Class A financial reporting system. Therefore, like America and the UK, the Netherlands has relied on a Type A accounting system that is relaint on a high ratio of equity investment as oposed to loan creditors. Conversely, countries with Type B cultures have weak outsider-equity financing (i.e. weak equity) systems that have led to the development of a Type B financial reporting system . This model is comonly known to be widespread practice within continenatl Europe including Germany. Nobes (1998) stsudies the link between the financing system and accounting, but also believes that a Type A system in terms of equity financing is not entirely dependant on Type A accounting, but instead external or outsider equity financing is imperative. By drawing on examples, Nobes (1998) examines Japan. Japan is a country with many listed companies as well as large equity market, but instead of the market being supported externally, most of the shares are owend by Janpanese banks or other companies, investors etc). According to the model, financial reporting in Japan should exhibit the characteristics of a Type B accounting system. Nonethelss, Nobes (1998) in explaining why Germany is substantialy different to the Netherlands claims that differences in culture, i.e. countries that have altered their culture through war will usually adopt the culture and accounting system imported from the dominating country. This explains, for example, why some post colonial African countries possess a type A system despite having very weak accounting systems. As noted earlier, Nobes focuses his discussion on the link between financing systems and accounting. He assumes that some cultures lead to strong equity-outsider financing systems and others do not, but he leaves the examination of this assumed relationship for others. Nobes appears to assign a very broad view of culture to this variable in his model. In a simplified model presented earlier in his paper he refers to this variable as culture, including institutional structures[5] A brief examination of the differences betweent the culture of institutional structures is examined below. While a Type A classification separates accounting and tax rules, Type B does not.[6] Type A in comparison to Type B also has an extensive auditing system. This is true for the Netherlands in comparison to Germany. In US, UK and Netherlands, link between taxable income and accounting income is much weaker, with separate tax accounts and financial accounts. The information is prepared with external investor information in mind thereby focusing on a large equity market (Type A). In comparison a Type B taxation system such as that of Germany tax accounts which are published financial accounts are not usually prepared for investors, but instead internal forces such as company investors, shareholders etc. In sum, the Type A system such as that in practice in the Netherlands and as proposed by Nobes is one of dynamic accounting formulated with the external investor in mind thereby creating increased demand for external investment. On the other hand, Germany experiences the converse of this, with taxation and accounting system which is interlinked and an intention of financial reporting for internal investors rather than external investors in mind. Bibliography Classification based on Corporate Finance, http://www.people.ex.ac.uk/wl203/BEAM011/Materials/Lecture 10/IA1 Lecture 10.pdf Elliott et al, Financial Accounting and Reporting, (2006 10th ed) Dictionary of Accounting, Collin Publishing (2001) Nobes (1998) Footnotes [1] Elliott et al, Financial Accounting and Reporting, (2006 10th ed) p 136 [2] Ibid, p137. [3] Dictionary of Accounting, Collin Publishing (2001) p.99 [4] Elliott et al, Financial Accounting and Reporting, (2006 10th ed) p 137 [5] Nobes (1998) p. 177 [6] Classification based on Corporate Finance, http://www.people.ex.ac.uk/wl203/BEAM011/Materials/Lecture 10/IA1 Lecture 10.pdf

Lizard by Dennis Covington Essay

Dennis Covington is an American writer of fiction whose stories give a realistic version of the world through the lives of the fictitious characters. He did his education in fiction writing and got BA degree from the University of Virginia. He married second time to Vicki Covington in 1977 and also taught at the University of Alabama at Birmingham. (Alabama Center for the Book and Auburn University, 2008) Lizard is his commendable story of a deformed young teenage boy, Lucius Sims, whose deformity gets him a nickname Lizard. The whole story revolves around this boy, his anguish as he is abused and laughed at by other children and even though not mentally retarded yet is admitted in the asylum of mentally retarded children. Lucius Sims has a disfigured face and looks completely different from others and similar to a reptile. This makes him an object of ridicule and insults. He is often insulted and called â€Å"Turd Head† (Covington, 1991, p. 10) by the boys, and nurse refers him as â€Å"that boy with squashed head† (Covington, 1991, p. 28). He is also admitted in Leesville State School for mentally handicapped boys by a woman named Miss Colley with whom he was staying. From this place onwards his troubles and problems actually start. There is no sign or even evidence of his being mentally handicapped still he is forced to stay with these children which prove nothing less than a torture for him. His sending him off to the school of mental retarded children is just a means to get rid of him, so that Miss Colley could marry without having to face burden of taking care of him. Lucius is burdened of having to face not only these children but also adults so he decides to escape. Soon he gets an opportunity when he is helped by a young actress and an actor to flee from school. He takes this chance to escape into the new profound freedom. They take him into the acting company where he plays a role of Caliban in one of the organized Shakespeare’s play The Tempest. In course of his journey, he comes across range of people- orphaned brother and sister whom he finds staying in a dirty swamp, a museum curator, a black artist, and finally again Miss Cooley whom he finds to be his own mother. On this journey he has to face many situations and circumstances which are both tragic as well as comic like interstate chase, acting debut, unreciprocated love, his acting career and many more adventures. â€Å"While performing in the play, Lizard becomes a specifically American Caliban who finds through the culturally-authoritative voice of Shakespeare, language to speak the trauma of self and nation crystallized by the extreme political history of 1963. † (Hateley, 2009, p. 158) Plot moves very slowly in the beginning but becomes more mesmerizing as it moves forward. Whole text appears to be very loosely connected with again plot appearing to be like turning here and there and twisting. In some places, rough language has also been used which has very little or no relevance to the plot. Many people have been described in the book that gives a nice view about the present society as a whole and the difficulties it faces. It is a self narrative with an autobiographical touch as this whole story has been told by Lizard himself and from his perspective. Through this story, we could not stop but admire him for the way he shows courage and strength in dealing with the circumstances and the people around him. All other characters are also very intriguing allowing us to have a good grasp of the society and its ways. Lizard is Covington’s first work of fiction as he produced originality while espousing the social themes and the worldly affairs with great dexterity and as a keen watcher. This novel is more recommended for young aged between 14 to 16 who should adopt the attitude of love and tolerance towards these â€Å"other† unconventional children. It is also a novel of hope and optimism as in this odd world, a body with disfigured face wants to make his place. Through the eyes of this young boy nicknamed Lizard, writer allows us to show great wisdom, and love for all. It is also a way to remove the undaunted fear of adolescence. While reading the novel, it appears writer has achieved what he wanted with no doubt through the confused, tormented and on some occasions violent while other funny escapades of main the protagonist Lizard. Reference List Alabama Center for the Book and Auburn University. (2008). Dennis Covington. Retrieved on May 2, 2010 from W. W. W: http://www. alabamaliterarymap. org/author. cfm? AuthorID=134 Covington, D. (1991). Lizard. New York, N. Y: Bantam Doubleday Dell. Hateley, E. (2009) Shakespeare in children’s literature: gender and cultural capital. New York, NY: Routledge. Perantoni, C. (2003) First One I and Then the Other, in Reimagining Shakespeare for children and young adults edited by Naomi J. Miller. New York, NY: Routledge. Polette, N. & Ebbesmeyer, J. (2002). Literature lures: using picture books and novels to motivate middle school readers. Westport, Connecticut: Libraries Unlimited. Ward, M. (2006). Voices from the Margins: An Annotated Bibliography of Fiction of Disabilities and Differences for Young People. IAP.

Greek Mythology: the Story of My Father and His Son Essay

My father was not a very good man. He was an alcoholic, womanizer and physically abusive to his wives (he was married twice) and his children. He had a genius mind, with a simpleton’s attention span. If he were to be given an evaluation today, he may be on the autistic spectrum, maybe leaning toward Asperger’s. He would sit on his throne and eschew orders like he was ready at any moment to wield the lightning bolt and kill us all. He was the Zeus to my Ares, and despite everything I loved him fiercely. I defended him even when he wouldn’t defend himself and since I have a fiery temper (anyone can ask my wife, the only fire extinguisher I will ever need), we often clashed like titans. It is a good thing we shared the mutual love of exploring ancient Greek myths and figures, as we could have been reading about ourselves. My Zeus died in 2008. When I was young, my father and I were forced by the courts to spend weekends together after he and my mother divorced. She was tired of Zeus, and bashed his head in with a frying pan while I watched wide-eyed and silent. During these visits, my father would at least pretend to be sober enough to entertain the product of his first wild, young marriage. He had a huge collection of books, pictures and slides of Greece and the mythologies which could appear to anyone else to be funny since we are 150% Italian. I would stare in fascination at these pictures of places, pretending I was there; and the people, pretending I was them. Eventually my father would finish whatever was in his cup and come find me, furiously afraid I was destroying his collection and threatening ghastly vengeance on me if I had. What he did do was make me want to look more. Eventually I could read, and instead of chasing me out of his office would actually spend time with me in there, most of the time sleeping it off I realize now. But as I read on through the months I began to worry less and less I would be beaten for exploring in there if I was careful, and began to ask him questions about things I didn’t understand. Why did the stories talk about so many gods, when my Catholic education taught me there was only one? What did this have to do with the stars and sky, and what was up with all the monsters? I think he figured humoring me was a way out of actually having to take me anywhere and would answer me, grabbing volumes and flipping the pages. I crept into within arm’s length and we spent many hours going over all sorts of what a child’s mind would find unfathomable. Our favorite was a bright orange tome titled Greek Mythology, and had such chapter titles as The Monster-Killers. How interesting that one is. I would still see Zeus all the time, as I tried his patience as a child does, or whenever he felt like it. As I have said, he wasn’t a very nice man. My mother knew it, my friends knew it, even the dog knew it I think. I was desperate for male influence as my mom after her divorce moved us in with her mom, who was a widow living with†¦her mom. So as a father now I can see how I would take even the worst interaction over none at all. I always had a temper, my mother telling me I was like my father when she was exasperated of me†¦when in fact I see myself now as the Ares to his Zeus. As they were father and son so were we. So on the weekends he would come and get me that lessened as he built his second family, that is what we did. Saw a couple movies of his choosing and then would retreat to his house on Wellington Dr. to let me loose in the office. The older I became the looser his grip on the office collection, but I knew Zeus was watching and if I ever dog-eared a page I furtively looked around before smoothing it back, praying as a child does he wouldn’t find out. The older I got, the less I saw my father as happens as one goes through the teens and beyond. I would still bring up our favorite interest when I talked to him, asking if he found any new books or saw any specials on TV. â€Å"Sure kid. â€Å", he would tell me while I knew that the only one looking and watching was me. I collected every National Geographic on the topic, have many DVD’s of documentaries, and even went to a convention a few years back where I saw some artifacts like pottery and coin rubbings. That temper of mine got me in quite a few scrapes and when I would tell the Old Man about my latest exploits he would laugh at me and usually one-up me. You can’t compete with Zeus I guess. After my son was born came his three sisters and any free time I have to devote exclusively to reading the Myths. I love them as much as I ever have, and the family knows it. They despair if I ever come across something new on Netflix knowing what comes next. But I never told them about the link to my father, I guess some things just stay put until the right time. My wife just thought it was something I always liked for no special reason. She didn’t like Zeus, whom she distrusted immediately. She has good radar. She also knows how to put me in my place when I start to get fiery, I have children of my own who can push my hot-button for sure. But I have never done more than yell because Zeus taught me that no one benefits from it. Back to my son. He discovered the Percy Jackson books by Rick Reardon, and the eventual movie. These books are Greek Mythology with a modern spin but still as factual. He loves, loves  them. In fact, as he read more he wanted more. So I found books like the Treasury of Greek Mythology by National Geographic, and we in turn spend many hours reading together. I think he is smarter than me, and certainly more computer literate so he finds new â€Å"stuff† all the time for us to check out. The boy who sometimes I can’t look at, because he looks back at me with Zeus’s eyes. In those eyes I see someone who hurt me so much, in a body I know loves me unconditionally. The boy who has Asperger’s. Dominic is 10 and still the age where I know what I am talking about. Zeus died in 2008. He left this world as he came in, drooling from the drugs they gave him in a futile attempt to save the liver which had finally given up on him. He had people bringing him alcohol to the hospital right to the last day. No one said no to Zeus. I will never forget that last image I have of the powerful god. So in a way with my son, the Myths are helping to fix the broken bond my father and I didn’t have. In his will he left nothing to no one, his words almost exactly. But he had one thing in safe deposit box. A faded orange book by John Pinsent, titled Greek Mythology. In it was a picture of him and me – Zeus and Ares, probably taken by my mother†¦marking a severely dog-eared page.

What Is Float in C, C++ and C# Programming

Float is a shortened term for floating point. By definition, its  a fundamental data type  built into the compiler thats used to define numeric values with floating decimal points. C, C,  C# and many other programming languages recognize float as a data type. Other common data types include int and double. The float type can represent values ranging from approximately 1.5 x 10-45 to 3.4 x 1038, with a precision — the limit of digits — of seven. Float can contain up to seven digits in total, not just following the decimal point — so, for example, 321.1234567 cannot be stored in float  because it has 10 digits. If greater precision—more digits—is  necessary, the double type is used. Uses for Float Float is used mostly in graphic libraries because of their extremely high demand for processing power. Because the range is smaller than in the double type, float has been the better choice when dealing with thousands or millions of floating-point numbers because of its speed. The advantage of float over double is negligible, however, because calculation speed has increased dramatically with new processors. Float  is also used in situations that can tolerate rounding errors that occur due to the float precision of seven digits. Currencies are another common use for float. Programmers can define the number of decimal places with additional parameters. Float vs. Double and Int Float and double are similar types.  Float is a single-precision, 32-bit floating point data type; double is a double-precision, 64-bit floating point data type. The biggest differences are in precision and range. Double: The double accommodates 15 to 16 digits, compared with floats seven. The range of double is 5.0  Ãƒâ€"  10−345 to 1.7  Ãƒâ€"  10308.   Int: Int also deals with data, but it serves a different purpose. Numbers without fractional parts or any need for a decimal point can be used  as  int. The int type holds only whole numbers, but it takes up less space, the arithmetic is usually faster than with other types, and it uses caches and data transfer bandwidth more efficiently.