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Monday, September 21, 2020

Salmon Fishing the Great Lakes

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Salmon Fishing the Great Lakes


Salmon fishing the great lakes has never been better. Great numbers of king(Chinook), coho, atlantic, and pink salmon have been taken over the last few years. The fishing has been so good that it is one of the most uprising sports today in Michigan. Most of the salmon have been coming out of Lake Michigan and Lake Huron. These two bodies of water hold an amazing amount of fish just waiting to bite. All it takes to catching them is just getting out there and finding them.


The salmon fishing season unofficially starts during the spring. During this time of year the place to be is in the southern portion of Michigan. Warm water from water run-off and streams flows into the lakes, warming the shallow water. Bacteria and parasites swarm the area, developing and multiplying in great numbers. When this happens, bait fish move in to feed on these organisms. Along with the bait fish come the salmon. Salmon will come in and heavily feed on the bait fish. During this time is when you want to be fishing. You will have a lot of luck at this time of year.


Following the spring salmon run is the summer fish. During this time of year the fish are a little bit harder to find. They will range in depths from anywhere in the thirty foot range to the one hundred and fifty foot range. A little trial and error has to be done in order to find the fish. Once they are located you can catch them in great numbers.Order College Papers on Salmon Fishing the Great Lakes


In the fall time, fishing can be great. At this time of year salmon are running into the rivers to spawn. To sustain their energy they eat a lot. This is why the fishing can be so good. Salmon of larger size are taken in large number. They are in very close and tend to school together. The smaller salmon tend to stay out deeper, for they are not ready to spawn yet. Fishing in shallow at this time of year will produce fish after fish on your boat.


The salmon season ends with fishermen lining the river banks and casting their bait into the currents. When it gets into the winter months the salmon head out into the deep water to avoid the freezing lake. The following spring will bring them back again.


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Friday, September 18, 2020

Assignment - Software Design for Telephone System

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Assignment - Software Design for Telephone System


Assumptions -


· The software is designed for local calls only, it will serve the people living in that geographic area.


· This system does not support conference. Help with essay on Assignment - Software Design for Telephone System · The subscriber will not be allowed to make any calls if his account accumulates an outstanding bill of £500 or more.


· The system will start charging once the connection is successful, and not during connecting or unsuccessful call.


· The system will disconnect from the caller if the connecting sequence has reached a timeout period of 1min.


· There are voice recorded messages that can be played to the caller when there are certain errors encountered.


This software will be running at the local exchange to manage the connections and charge the subscribers for the service. This telephone switching system consists of mainly two components, the controlling software and the electronic switching circuitry. It controls and allows two users to connect to each other, as show on the DFD below.


When the caller picks up his phone, he actually closes the circuit and connects to the local exchange telephone network. The system will detect this and lookup the Telephone Directory for the particulars for this telephone line and the respective subscriber. If the system detects that it is a valid line with subscription it will send a dial tone signal to the phone. The caller hears the dial tone will then dials the number of the callee, the system receives the signal to connect to another telephone line. It will look up the Telephone Directory again to check for any outstanding amount unpaid by the subscriber, if its £500 or more, the caller will be barred from making any calls. If not the system will look up the Telephone Directory for the particulars of the callee. For this case, since it is the caller party pays, even if the callee has chalked up a bill of £500 or more, he can still be contacted, unless his phone line is down.


If there is such a number where the caller dials, and the system has looked up the Telephone Directory checking the status of the callee. It will check if the callee is currently online, if the callee is busy, the system will send a busy tone back to the caller, signaling a call made is unsuccessful. The transaction is thus ended. If the caller wishes to redial, he will have to hook up his phone first to disconnect from the network before dialing, the system will then restart the sequence once again.


If the callee is free, the system will send a signal or a high current to ring the callee's phone, at the same time, the system will send a ringing tone to the caller, telling him that the callee is not engaged and that he has to wait for the callee to pick up his phone


However, if the callee is unavailable; his phone line is not engaged but is not at home, the ringing signal will continue to sound for a period of 1 min or until the caller hangs up, whichever is earlier, the system will terminate the call and end the transaction.


If the callee is free and available, and once he picks up the phone, his phone too will be connected to the telephone network, the system senses this and connects the caller to the callee.


The system will activate the timer once the connection is successful, and base on the current pricing plans, the system will calculate the duration of the call and charges to the caller's account, until either party ends the call. The system will also updates the subscriber's account when he makes payment.


On the occasion when the phone number dialed by the caller is invalid, the system will playback a prerecorded voice messages telling him that there is no such number or that the number has been terminated.


The DFDs below will show a more detail process in each stage of a call and their process specification.


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Wednesday, September 16, 2020

Anne Pery

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Martha Hailey Dubose recently wrote in a passage from her Women of Mystery novel on Anne Perry's legacy, including a section on Perry's growing appeal among contemporary murder-mystery fiction readers. Dubose, however, noticeably titled the section on Anne Perry "Past Imperfect" (45). When beginning a research project into Perry, the writer known for her Thomas Pitt and William Monk mystery series, it is nearly impossible to ignore the fact that despite Perry's seemingly consistent grasp on all aspects of her life, she nearly lost all potential of fame and fortune at the age of 15 due the murder the she, along with best friend Pauline Parker, committed.


The great New Zealand murder of 154 began what would appear to be Perry's greatest influence to the murder mystery genre. On June , 154, Juliet Hulme, for whom we now know as Anne Perry, and Pauline Parker murdered of Honora Parker, Pauline's mother. Prior to the murder, both Hulme and Parker kept a diary in which they relayed their aspirations to move to America and become famous writers. Pauline and Juliet coded their personal identities in the diary, consistently calling each other by different aliases. At the time of the murder, Pauline referred to Juliet as "Deborah".


The Perry/ Parker trial, which convicted the two girls to an indefinite prison Martha Hailey Dubose recently wrote in a passage from her Women of Mystery novel on Anne Perry's legacy, including a section on Perry's growing appeal among contemporary murder-mystery fiction readers. Dubose, however, noticeably titled the section on Anne Perry "Past Imperfect" (45). When beginning a research project into Perry, the writer known for her Thomas Pitt and William Monk mystery series, it is nearly impossible to ignore the fact that despite Perry's seemingly consistent grasp on all aspects of her life, she nearly lost all potential of fame and fortune at the age of 15 due the murder the she, along with best friend Pauline Parker, committed.


The great New Zealand murder of 154 began what would appear to be Perry's greatest influence to the murder mystery genre. On June , 154, Juliet Hulme, for whom we now know as Anne Perry, and Pauline Parker murdered of Honora Parker, Pauline's mother. Prior to the murder, both Hulme and Parker kept a diary in which they relayed their aspirations to move to America and become famous writers. Pauline and Juliet coded their personal identities in the diary, consistently calling each


Please note that this sample paper on Anne Pery is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Anne Pery, we are here to assist you. Your cheap custom college paper on Anne Pery will be written from scratch, so you do not have to worry about its originality.


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Monday, September 14, 2020

Does a Fetus Have Rights?

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I believe a fetus should have rights because of my culture, religion, and


experience. If you are responsible enough to have sex, you should be responsible for your actions. A fetus has a heartbeat, legs and arms, fingers and toes, and eyes at eight weeks after conception. The fetus may only be an inch long but it is still a human life. I believe there should be rights to protect a fetus. I grew up in south Florida and it seemed every year younger and younger kids were having sex. I had a steady boyfriend through high school and a very open relationship with my mother. She talked to me about sex, contraception, and the consequences of my actions. Sex education can play a very positive role a teenager's life, I know it did in mine. I was raised as a Catholic and the church had a strong influence on my beliefs. When I was in eighth grade I attended CCD or Sunday school. The church showed us a video of an abortion procedure, after the fetus was taken out of the mother it was tossed in a trash can. In the trash can you could see other fetus and blood. I remember crying throughout the whole video. The Catholic Church sure knows how to brainwash. Now I'm more educated and know not all I was told as a child was necessarily true. From the time I was thirteen until now I have had a quite a few friends become pregnant. Some of the girls decided on abortion and others chose to have the baby. I support my friends, but who supports the fetus? If a fetus did have rights who would speak for it? If the government spoke for the fetus then it would depend on the opinions of the President, Congress, and the courts. If religious groups spoke for the fetus there would be no abortions. There would need to be a neutral person(s) to speak for the fetus.


The first article I came across on the internet supported my beliefs. It was an article from The Christian Science Monitor titled "South Carolina tests the bounds of a fetus's rights." In this article the courts of South Carolina are deciding if the state can press charges against drug abusing pregnant mothers. A woman in South Carolina gave birth to a still born baby with high levels of cocaine in its bloodstream. The courts are deciding if she should be charged with child abuse or murder. The states are cracking down on drug abusive mothers. "As a result of this trend, some 00 women in 0 states have been charged for violating some kind of 'fetal rights'" (The Christian Science Monitor). I found this article to use opinion based evidence because it took place in South Carolina and they have more laws and opinions about "fetal rights." The evidence is obviously biased because not all women are being prosecuted and not all states are supporting it.


The other article I found to support my belief was from the Catholic Educator's Resource Center. I found this article to also be bias because the author is a pro-life supporter and philosopher. The article is called "The Apple Argument Against Abortion" and it states thirteen principles or steps to prove fetus should have rights. The author exaggerates by saying babies all over are being slaughtered. "Traditional common sense and morality say all humans are persons and have rights" (Kreeft). the author asks a pro-choicer to stand up and prove that a fetus is not a person. Some of Kreeft's thirteen principles are observational evidence, but some of the principles are strongly opinionated.


The next article I read went against my belief that a fetus should have rights. The article, "Abortion When do rights begin?" was written in the Capitalism Magazine. The author says individual rights begin at birth, but a fetus is only part of the mother. A fetus before five months can not survive on its own so how can it be given rights? The author believes only the mother has rights and her rights include the right to control her body; before, during, and her pregnancy. "Those who assert that a woman has no right to an abortion are willing to condemn her and her husband to the responsibilities of parenthood, as a duty, rather than as a chosen value" (Lewis). The evidence found in this article is obviously opinionated because the whole article is based on the author's opinion with no observational evidence. I also believe this article is biased because it doesn't show another point of view.


The last article I read was also against my belief. "Students Clash Over Bill that would Protect Fetus' Rights" was written in The New York Times College section. The article is about Laci Petterson and her unborn son Connor Petterson. Laci and Connor's bodies were found along a shoreline after they had gone missing for four months. Now Congress is trying to pass a law called the "Laci and Connor's Law" stating that anyone charged with murdering a pregnant women shall be charged with both crimes. Abortion-rights activist say that it is unconstitutional to punish the murderer twice. "There are better alternatives to punishing criminals who commit violent crimes against pregnant women, a majority of the states already have laws established to punish criminal acts that result in harm to pregnancy" (Bear). I thought this article used opinion based evidence because the author is an abortion-rights activist and the entire article is based on her opinions. The evidence used in this article if free because the court shows the steps in Laci and Connor's court case.


There are situations that could have an impact on my belief that a fetus should have rights. If I (or anyone) was raped and became pregnant I would consider abortion as an option. I would want the right to have the option. I feel having the baby would be a horrible experience for the baby and myself. I would have to look at my child everyday and remember that horrendous crime. I would also consider abortion if my life was in jeopardy. If I could not deliver my baby and survive, again I would like to have the option. Another experience that would challenge my belief would be if my teenage daughter came home pregnant. I would hope I could educate her about the importance of sex and contraception. I would have to know in my heart that she could make right decision, but it would be important that she have options. I feel there are certain situations that abortion may be the right choice, but I disapprove of people using abortion as a form of birth control. In conclusion, a fetus should have rights but a mother should have rights also.


Works Cited


Bear, Jennifer. "Students Clash Over Bill That Would Protect Fetus' Rights." New York Times 1 May 00. http//www.nytimes.com/uwire/uwire_FNYP05100770168.html


Kreeft, Peter. "The Apple Argument Against Abortion." Catholic Educators Resource Center 000. httpwww.catholiceducation.org/articles/abortion/ab0045.html


Lewis, Andrew. "Abortion When do rights begin?" 14 Feb. 000. http//www.capmag.com/article.asp?id=7.html


"South Carolina tests the bounds of a fetus' rights." The Christian Science Monitor 8 June 001. http//scmonitor.com/durable/001/06/8/fp1s1.csm.shtml


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The Great Gatsby and the criticism of the American dream.

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The 10's were a period of decadence and partying despite the prohibition, a legal ban on both the production and selling of alcohol, providing an opportunity for criminal organisations to supply it illegally and at a high cost. The Great Gatsby was written in 15, after the First World War but before the Depression in the 10's, amidst this time of partying and bootleg alcohol. The American dream evokes the idea that everyone can achieve their goals and happiness through hard, honest work- that everyone is presented with the same opportunities and can reach their full potential simply by striving to be all that they can and staying true to their beliefs and moral values. Thomas Jefferson expressed the embodiment of The American dream in the Declaration of Independence 1776


'We hold these truths to be self-evident, that all men are created equal, that they are endowed by their creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness.'


The Great Gatsby is set during 1 in two 'eggs' just outside of New York. The West Egg, one of the regions, is home to 'new money' and those that have acquired their wealth rather than being born into it. The East Egg in contrast inhabits those who have a conventional social standing and represent the ideals of the old upper classes. At the beginning we are introduced to the narrator Nick Carraway; he has been taught by his father to reserve judgement on others as not all have had the advantages in life as he. Fitzgerald establishes this, as he wants to ensure that the reader trusts Nick's recount of events as neutral and unbiased despite the fact that he is an involved character in the novel. It becomes clear however that Nick Caraway can not hide his feelings of the characters, he has a distaste for their immoral actions, however, this form of narrative allows Fitzgerald to not only be morally detached from the novel but also to display his own optimism of life in the character of Gatsby.


'Gatsby of course can have no consciousness of his own significance-what his life really means-which is why Nick Carraway's role, and the narrative method Fitzgerald has chosen, are of such crucial importance.' (1)


Custom Essays on The Great Gatsby and the criticism of the American dream.


Fitzgerald's characters are young and privileged, Tom and Daisy Buchanan, or young and deprived, Myrtle and George Wilson; they contrast each other. Jay Gatsby is the main character in the novel and it is he that is striving to achieve the American dream, or he is in pursuit of the one thing that he thinks will make him complete, which is his first love Daisy. 'The American dream in its true sense has never been limited to material success alone' (). At the end of the chapter1 the reader witnesses, through the eyes of Nick, Gatsby stretching his arms out and looking into the distance at a 'single green light'. On the surface this symbolic gesture can be seen as Gatsby reaching out to Daisy who lives on the other side of the dock. It is representative however of Gatsby trying to capture the deceptive aspirations that are the American dream or on a whole something that everyone strives for but is just out of our reach. Gatsby thought that once he had achieved wealth and power he would have happiness in Daisy, however he can't buy everything that is important to her; he cannot buy an established position in society. Gatsby chose the quick route to success, rather than working hard and honestly, and achieved it by becoming involved with some illegal organisations in order to make his money fast. The American dream when it was first established determined that all could reach their goals by honest, hard work but Gatsby's corruption contrasts this and demonstrates Fitzgerald's criticism of it. The dream is unrealistic, as it does not take into consideration the changes in society and its inhabitants. The fact that light is green can be quite deceptive to the reader implying that colours within the novel are important symbols in themselves. Daisy is wearing white on the first encounter with her indicating that she may be a virginal, innocent person however by the end of the novel this image is contradicted as she is actually shallow and superficial, motivated solely by greed and material possessions.


The rich characters in the novel own lavish mansions and cars, which were luxury items at this time and only owned by those who could afford them, and Fitzgerald's description of them are poetically exquisite. For example 'The front was broken by a line of French windows, glowing now with reflected gold and wide open to the warm wind of the afternoon…' (pg.1) It was these material possessions however that corrupted the American dream. The characters are obsessed with their outward appearances, what they have on display and then ultimately how others perceive them via these status symbols. Gatsby himself has a lavish mansion however he built it not to show others what he had but to capture Daisy's attention; if Daisy herself was not so shallow and concerned with superficial appearances Gatsby would have no need for such status symbols. The rich characters in the novel assume that Gatsby is the same and that all his possessions are fake and for show also; for example Jordan assumes that the books in the library are merely for display when in fact they are actually real. Jay Gatsby's dream was honest at the beginning but he became corrupted along the way achieving his money and luxuries by partaking in illegal activity. Daisy herself was so shallow that she set standards that Jay would never be able to live up too whilst at the same time had no intention of ever leaving her husband.


The eyes of T.J. Eckleburg that look over the ''valley of ashes'' are symbolic of a godlike presence watching over the characters and their actions. Many of the immoral actions of the characters take place under these watchful eyes, for example the death of Myrtle and Tom's affair, and they are representative of Fitzgerald's attitude towards the lack of moral values in his own society. Fitzgerald describes them as brooding over the 'solemn dumping ground', judging the characters for allowing themselves to become spiritually corrupt. George Wilson whilst grief stricken at the end of chapter eight describes how he had taken his wife to the window and said 'I told her she might fool me but she couldn't fool God...God sees everything'. Myrtle is the one character that pays for her immoral actions, as God is the definitive judge of virtue of honesty. The characters idolised their possessions rather than God and lost their spiritual aim in life, as did many Americans living during this time period. A life without purpose or aim is meaningless; Tom and Daisy surrounded their lives with all their money could buy yet despite all they had their lives were empty and both had affairs to compensate for this. His description of the valley of ashes is heaving with images of baron, deadened area that not a living being could survive in - ' a fantastic farm where ashes grow like wheat into ridges and hills and grotesque gardens; where ashes take the forms of houses...of ash-grey men, who move dimly and already crumbling through the powdery air' (pg ). This depiction is not only of an area similar to a desert or harsh environment but also significant of the moral wasteland that the area represents.


Fitzgerald describes Gatsby as having 'something gorgeous about him, some heightened sensitivity to the promises of life' and it may be the element of hope that Gatsby embodies that he finds so attractive. Gatsby remains ever optimistic that he will be able to win Daisy back despite the fact that he becomes corrupted whilst trying to achieve this dream. Gatsby is a hopeless romantic and, as Fitzgerald almost did, he lost the woman of his dreams, his true love because he had no money. For Gatsby his pursuit of money and possessions was merely a means for him to capture his dream. The American dream encouraged people to strive in order to attain whatever it was that would make them feel happy, successful and complete. The green light that Gatsby was obsessed with symbolises hope and it is with this image that Fitzgerald makes his strongest criticism of the American dream. The light is out of reach for Gatsby, as he has set himself a goal that he will never be able to accomplish, and his death at the end of the novel symbolises the death of The American dream itself.


'If Gatsby is redeemed as an individual, it is only by the determination which he clings to his dream, however flawed and fragile its basis may be.' ()


The American dream can bring consequences when the idealist becomes absorbed with material wealth and forgets about their spiritual well being. Love and happiness cannot be bought and Gatsby's dream was doomed to fail as he had focused too much of his time on material improvement that time eluded him, but it was the circumstances of the period that had placed him under this pressure.


'Gatsby exemplifies only a process of corruption for which he is not individually responsible. His sense of the ideal is no more nor less than that which his society offers him.' (4)


Gatsby had a romantic ideal but it belonged to a specific period of his life that was to remain in the past as, time waits for no man, Daisy had moved on and was unwilling to risk all that she had gained to retreat into the past. Time is irrelevant to Gatsby, as the broken clock signifies, but this causes him to fail to keep in touch with reality. Gatsby's dream belonging in the past juxtaposes Fitzgerald's belief that the American dream belongs there also- reality and modern society can not keep up with the ideals that the American dream had once stood for. Fitzgerald poetically describes Gatsby's attempts to go beyond his past as wasted time and energy 'So we beat on, boats against the current, borne back ceaselessly into the past (pg187)- He was never to be successful as he is modern man living in a backward society. Tom and Daisy Buchanan represent the force of the current; America was to be the land of dreams but they embody the traditional views of European aristocracy and have infected the society with these opinions. The West Egg and East Egg regions are symbolic not only by the people that live in them but also because of the division between them; the ideals that the dream originally stood for cannot co-exist in a world that still has divisions among the classes. The American dream suggests that all people are equal but in the novel social discrimination is still at large and cannot be overcome by any of the characters. Myrtle's affair with Tom is her attempt to try and break into this world but in doing so becomes corrupted herself, sneering at other people from her own class and becoming offensive. Her desire to become a member of this group is simply from her social ambition and she has no regard for the feelings of either Daisy or her husband George's feelings. In contrast to this Gatsby's yearning to do so is only somewhat influenced by social purposes but it is not the sole reason; it is however more imperative for him to succeed because his whole existence revolves around his belief that he can accomplish what he set out to do.


George and Myrtle Wilson are important characters in the novel as they contrast the rich world that Tom and Daisy inhabit yet all live unhappy lives; Nick Caraway describes George as being grey, covered with the ashen dust and 'mingling immediately with the cement colour of the walls'. His depressing situation is due to his dying business; there is a gleam of hope in his eyes when he sees that Tom has come down to his garage hoping that he has brought some trade with him. The poor believed that their problems would vanish if they had more money but as demonstrated through Gatsby money can not buy happiness. Tom and Daisy were rich yet their lack of true love, lack of morals and lack of principles all led to their unhappiness. None of Gatsby's so-called friends attend his funeral; his struggle for wealth and status had been wasted as in the end he was left with nothing. Consequence is a word of no significance to the characters in the novel. Nick says in chapter nine of Tom and Daisy, 'They were careless people, Tom and Daisy- they smashed up things and then retreated back into their money...and let other people clean up the mess they had made'. Tom and Daisy allowed Gatsby to be murdered for a crime that he did not commit; Tom because he wanted Gatsby to be punished for loving his wife and Daisy as she had never before had to take consequences for her own actions. This is reinforced by Jordan's description of being a driver; it was not up to her to be careful but to the other drivers on the road. Their life of decadence and carelessness caused the death of the American dream when they allowed Gatsby to die for their own corrupt actions.


'Daisy and her morally empty, sosphitcated worldliness is quite incapable of sustaining the dream that Gatsby has created around her' (5)


Tom, Daisy and Jordan are this 'dust' in the valley of ashes that have eventually caused the corruption of the American dream. The valley of ashes and the dust within are what are ultimately left of The American dream after the rich socialites destroyed it.


QUOTATIONS


1. Andrew Hook, F. Scott Fitzgerald, Ed. Robin Gilmore 1, 4


. Andrew Hook, F. Scott Fitzgerald, Ed. Robin Gilmore 1, 5


. Andrew Hook, F. Scott Fitzgerald, Ed. Robin Gilmore 1, 58


4. Andrew Hook, F. Scott Fitzgerald, Ed. Robin Gilmore 1, 58


5. Andrew Hook, F. Scott Fitzgerald, Ed. Robin Gilmore 1, 56


BIBLIOGRAPHY


1. Hook, Andrew 'F. Scott Fitzgerald, 1


. Mizener, Arthur 'This Far Side of Paradise', Houghton Mifflin Company 15


. www.sparknotes.com


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Friday, September 11, 2020

The art

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Everything you need to write a research paper, from how to begin and stay focused to writing the perfect conclusion.


Source The Internet Public Library


AP English Language & Composition Exam Review


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Source Apex Learning, Inc.


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Thursday, September 10, 2020

Accounting

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On September 8, 18, Chairman of the U.S. Securities and Exchange Commission Arthur Levitt sounded the call to arms in the financial community. Levitt asked for, immediate and coordinated action… to assure credibility and transparency of financial reporting. Levitt's speech emphasized the importance of clear financial reporting to those gathered at New York University. Reporting which has bowed to the pressures and tricks of earnings management. Levitt specifically addresses five of the most popular tricks used by firms to smooth earnings. Secondly, Levitt outlines an eight part action plan to recover the integrity of financial reporting in the U.S. market place. What are the basic objectives of financial reporting? Generally accepted accounting principles provide information that identifies, measures, and communicates financial information about economic entities to reasonably knowledgeable users. Information that is a source of decision making for a wide array of users, most importantly, by investors and creditors. Investors and creditors who are responsible for effective allocation of capital in our economy. If financial reporting becomes obscure and indecipherable, society loses the benefits of effective capital allocation. Nothing illustrates the importance of transparent information better than the pre-10's era of anything goes accounting. An era that left a chasm of misinformation in the market. A chasm that was a contributing factor to the market collapse of 1 and the years of economic depression. An entire society suffered the repercussions of misinformation. Families, and retirees depend on the credibility of financial reporting for their futures and livelihoods. Levitt describes financial reporting as, a bond between the company and the investor which if damaged can have disastrous, long-lasting consequences. Once again, the bond is being tested. Tested by a financial community fixated on consensus earnings estimates. The pressure to achieve consensus estimates has never been so intense. The market demands consistency and punishes those who come up short. Eric Benhamou, former CEO of COM Corporation, learned this hard lesson over a few short weeks in 16. Benhamou and shareholders lost $7 billion in market value when COM failed to achieve expectations. The pressures are a tangled web of expectations, and conflicts of interest which Levitt describes as almost self-perpetuating. With pressures mounting, the answer from U.S. managers has been earnings management with a mix of managed expectations. March of 17 Fortune magazine reported that for an unprecedented sixteen consecutive quarters, more S&P 500 companies have beat the consensus earnings estimate than missed them. The sign of a quickly growing economy and a measure of the importance the market has placed on consensus earnings estimates. The singular emphasis on earnings growth by investors has opened the door to earnings management solutions. Solutions that are further being reinforced to managers by market forces and compensation plans. Primarily, managers jobs depend on their ability to build stockholder equity, and ever more importantly their own compensation. A growing number of CEO's are recieving greater percentages of their compensation as stock options. A very personal incentive for executive achievement of consensus earnings estimates. Companies are not the only ones to feel the squeeze. Analysts are being pressured by large institutional investors and companies seeking to manage expectations. Everyone is seeking the win. Auditors are being accused of being out to lunch, with the clients. Many accounting firms are coming under scrutiny as some of their clients are being investigated by the SEC for irregularities in their practice of accounting. Cendant and Sunbeam both left accounting giant Arthur Anderson holding a big ol'bag full of unreported accounting irregularities. Auditors from BDO Seidman addressed issues of GAAP with Thing New Ideas company. The Changes were made and BDO was replace for no specific reason. Herb Greenberg calls the episode, A reminder that the company being audited also pays the auditors' bill. The Kind of conflict of interests that leads us to question the idea of how independent the auditors are. All of these pressures allow questionable accounting practices to obfuscate the reporting process. Generally accepted accounting principles are intended to be a guide, not a procedure. They have been developed with intended flexibility so as not to hinder the advancement of new and innovative business practice. Flexibility that has left plenty of room for companies to stretch the boundaries of GAAP. Levitt focus's on five of the most widespread techniques used to deliver added flexibility. Big Bath restructuring charges, creative acquisition accounting, Cookie Jar reserves, Immaterial misapplications of accounting principles and the premature recognition of revenues. These practices do not specifically violate the letter of the law, but are gimmicks that ignore the spirit and intentions of GAAP. Gimmicks, according to Levitt, that are an erosion in the quality of earnings and therefore the quality of financial reporting. No longer is this just a problem perceived in small corporations struggling for recognition. Throughout the financial community, companies big and small are using these tools to smooth earnings and maximize market capitalization. The Big Bath restructuring charge is the wiping away of years of future expenses and charging them in the current period. A practice that paves the way to easy future earnings growth by allowing future expenses to be absorbed by restructuring liabilities. Large one time charges that will be ignored by analysts and the financial community through a little convincing and notation. In note fifteen of the Coca-Cola company's 18 annual report shows seven nonrecurring items from the past three years. Fours of these charges are restructuring charges, most significantly in 16 in this note. In 16, we recorded provisions of approximately $76 million in selling, administrative and general expenses related to our plans for strengthening our world wide system. Of this $76 million, approximately $10 million related to streamlining our operations, primarily in Greater Europe and Latin America. These one time write-offs become virtually insignificant footnotes to the financial reporting process. Extraordinary charges that are becoming unusually common. Kodak has taken six extraordinary charges since 11 and Coca-Cola has taken four in two years. The financial community has to wonder how unusual these charges are. Creative acquisition accounting is what Levitt calls Merger Magic. With the increasing number of mergers in the 0's, companies have created another one time charge to avoid future earnings drags. The in-process research and development charge allows companies to minimize the premium paid on the acquisition of a company. A premium that would otherwise be capitalized as goodwill and depreciated over a number of years. Depreciation expenses that have an impact on future earnings. This one time charge allowed WorldCom to minimize the capitalization of goodwill and avoid $100 million a year in depreciation expenses for many years. A charge hiding in this complex note on WorldCom's 16 annual financial statement. (1) Results for 16 include a $.14 billion charge for in-process research and development related to the MFS merger. The charge is based upon a valuation analysis of the technologies of MFS worldwide information system, the internet network expansion system of UUNET, and certain other identified research and development projects purchased in the MFS merger. The expense includes $1.6 billion associated with UUNET and $0.54 billion related to MFS. () Additionally, 16 results include other after-tax charges of $11 million for employee severance, employee compensation charges, alignment charges, and costs to exit unfavorable telecommunications contracts and $4.5 million after-tax write-down of operating assets within the company's non-core businesses. On a pre-tax basis, these charges totaled $600.1 million. The dollar amounts are staggering and the future implications far reaching. Since this approach was introduced by IBM in 15 these charges have become commonplace for acquisition accounting. A popularity, largely due to the level of room allowed in research and development estimations. The Third earnings manipulation tool discussed by Levitt is what he calls Miscellaneous Cookie Jar Reserves. The technique involves liability and other accrual accounts specifically sensitive to accounting assumptions and estimates. These accounts can include sales returns, loan losses, warranty costs, allowance for doubtful accounts, expectations of goods to be returned and a host of others. Under the auspices of conservatism, these accounts can be used to store accruals of future income. Restructuring liabilities created by Big Bath' charges also provides these Cookie jar reserve effect. Jack Ciesielski, who manages money and writes the Analyst's Accounting Observer, calls these accounts the accounting equivalent of turning lead into gold… a virtual honeypot for making rainy-day adjustments. Various adjustments and entries that can produce almost any desired results in the pursuit of consistency. The statement of financial accounting concepts No. (FASB, May 180), defines materiality as The magnitude of an omission or misstatement of accounting information that, in light of surrounding circumstances, makes it probable that the judgement of a reaonable person relying on the information would have been changed or influenced by the omission or misstatement. Today's management has started to ignore this fundamental principle. Materiality is being defined as a range of a few percentage points. Companies defend immaterial omissions by referring to percentage ceilings that draw a line on materiality. The amount falls under our ceiling and is therefore immaterial. The materiality gimmick is one more method companies are using to stretch a nickel into a dime. Simply put, In markets where missing an earnings projection by a penny can result in a loss of millions of dollars in market capitalization, I have a hard time accepting that some of these so-called non-events simply don't matter, says Levitt. Finally, Levitt briefly touches on the complex issue of the manipulation occuring in revenue recognition. Modern contracts, refunding, delaying of sales, up front and initiation fees all add to the complications in some industries to follow specific rules of revenue recognition. With plenty of holes in revenue recognition the door is open for tweaking. Microsoft is a good example of the problems facing today's companies. Concerned with proper revenue recognition, Microsoft started a practice in the software industry that allows companies to recognize revenue over a period of time. This recognition allows for better matching of revenues to future expenses generated by the sale of the software. Expenses such as upgrades and technical support are related to the revenue generated by the sale of the software but are incurred at a later date. The complexities of modern business transactions have left modern standards of accountancy years behind. Gimmicks, that all must be addressed by the financial community. The task of returning integrity to U.S. financial reporting is of paramount importance. The interests of our financial system are at stake. Arthur Levitt and the SEC stand ready to take appropriate action if that interest is not protected. But, a private sector response that… obviates the need for public sector dictates seems the wisest choice. A nine part plan that involves the entire financial community is proposed by Levitt. Levitt has made it very clear that the SEC is prepared to start forcing change. A line Levitt hopes will not be necessary to cross. The SEC will begin to issue guidance on a wide array of issues concerning the credibility and transparency of financial reporting. Guidance that must be acted on to Obviate the need for large scale SEC involvement. The SEC will also act more proactively in two of its traditional roles of information regulation and enforcement. First, the SEC will begin requiring companies to provide additional disclosure details on changes in accounting assumptions. Supplemental beginning and ending balances and adjustments of sensitive restructuring liabilities and other loss accruals will also be required. Secondly, the SEC is unleashing the dogs on companies using any practices that appear to be managing earnings. The gauntlet has been thrown, and it is up to the financial community to accept the challenge. FASB and other standard setting bodies have fallen behind a rapidly changing and evolving economic environment. FASB and the AICPA are being coercively encouraged to clean up auditing and disclosure practices. The pressure is on and standard setting bodies are scrambling to close the holes in GAAP. FASB has established committees to investigate a number of concerns and is diligently working toward solutions that obviate. Auditors and the public accounting industry received a good scolding from Levitt. Glaring failures in the auditing process at Sunbeam, Waste Management Inc., and Cendant have put the whole industry at risk of public solutions. The auditors have failed to be the watch dog of investors. It is time to clean up your industry. Criticism by the entire financial community has questioned the auditors, qualifications, methods and their ability to police themselves. Finally Levitt challenges corporate management, and investors to begin a cultural change. Change that resists the pressures to follow the leader in accounting chicanery. Investors are encouraged to set financial standards of integrity and transparency and punish those who depend on illusion and deception. American markets enjoy the confidence of the world. How many half-truths, and how much sleight-of-hand, will it take to tarnish that faith? With the shift away form company run pension plans everyone has become their own personal financial planners. What hangs in the balance is the future of us all.


Please note that this sample paper on Accounting is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Accounting, we are here to assist you. Your persuasive essay on Accounting will be written from scratch, so you do not have to worry about its originality.


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