Sanctions Foreign Policy Tools - 2318 Words

Sanctions are foreign policy tools which are utilised by the member states and are recent development in the European Union. Where there are certain examples where organisation or a firm or people who breach sanctions either deliberately or accidently , This is called Breaching sanctions and can be done by any one and will also be facing charge for breaching such sanctions either with fine or both fine and imprisonment .Sanctions are also enforcement measures to maintain international peace and security. They involve economic orders and sanctions which guide not to use any armed force in international military action. There are also other sanctions which involve economic, trade, travel ban, arms, and financial sanctions. Governments often rely up on the companies and reports made by them of financial breaches that have occurred. In US the system of banks reporting about any potential infringement to (OFAC).Where as in the recent EU regulations, it is mentioned that all the transactions involving in purchasing on oil and petroleum products in Iraq must be reported. Business try to prevent breach of sanctions by either of one, Due diligence, licences, notifications and authorisations, Review old transactions which could result in breach and check records on time. There is no legal definition of sanctions in Public International Law. Where it can merely understood by the expression, that it gives directions to any political entity or any other in order to make them or restrainShow MoreRelatedTo What Extent Is The Success Conditions Of Economic Sanctions? Nature Of Durability As A Target Country?1029 Words   |  5 PagesWhat is the Success Conditions of Economic Sanctions? Nature of Durability as a Target Country Daichi Sudo 6985 Introduction Economic sanctions have become a common tool of international relations and an important yet controversial foreign policy tool. In fact, economic sanctions have been gathering attention recently, such as the United States and European Union (EU) against Russia s Crimea Annexation, and United Nation (UN) against North Korea and Iran based on the Nations Security Council ResolutionsRead MoreA Weekly Training Session 1 Embargo Sanctions1525 Words   |  7 PagesSession 1 – Sanctions In today’s training session we will be focusing on the sanctions regimes our international bank must consider when carrying out its global business including the implications of extra territoriality. We will also examine the consequences of failing to comply with sanctions. What are the sanctions regimes our international bank must consider? Firstly, we all need to be clear on what sanctions regimes are and how they are set out. Financial and Trade Sanctions are part of aRead MoreThe Impact Of Censorship On The Global Economy Essay1633 Words   |  7 Pageseconomy. â€Å"Since 2005, U.S. policymakers have increasingly turned to sophisticated types of economic sanctions as a foreign policy tool of first resort. From the development of banking sanctions limiting Iran’s ability to secure financing from Western capital markets to new sanctions targeting Russia’s financial system and the development of its oil resources, U.S. policymakers have touted these innovative tools as extremely powerful while also being tailored and precise.† (Feaver Lorber, 2015) So, whyRead More Efficacy of Iraqi Sanctions Essay1540 Words   |  7 PagesEfficacy of Iraqi Sanctions As United States foreign policy has matured in the wake of the Vietnam Conflict, a seemingly bloodless, less nationally controversial tool than war has emerged. The United States has begun to slap economic sanctions on rogue nations in lieu of or in addition to sending in the Armed Forces. This policy of sanctioning nations begs one to ponder the legitimacy thereof. A specific case to be examined is the Iraqi conflict. In response to Iraqà ­s hostile takeover of KuwaitRead MoreA Preliminary Retaliatory Action Of North Korea1455 Words   |  6 PagesJanuary 2, 2015 In a preliminary retaliatory action, President Obama signed an executive order that builds on existing sanctions against North Korea designed to ratchet pressure on the dictatorship. The order directs the Treasury Department to bar access by the North Korean government and officials of the Worker’s Party of Korea to the U.S. financial sector. Ten individuals and three North Korean government sponsored or controlled entities were affected by the strict new order, including key operativesRead MoreJapanese Imperialism During World War II1415 Words   |  6 Pagesonly taunted the world with their idea of self-sustainment and colonial expansion. The underlying principle to their failure was the theory of Imperial overstretch, as Hook explains, â€Å"a pattern in which great powers have consistently expanded their foreign commitments beyond their ability to remain economically solvent and militarily secure† (Hook 2014, 12). Throughout my analysis of the U.S.’s respons es to Japanese actions prior to the U.S.’s involvement in World War two, we see Japan try to expandRead MoreIran s Political Regime : Iran973 Words   |  4 Pagespower within the government and religion’s major role in government (O’Neil, Fields, Share, 522-523). While the Iranian government has tried to modernize its economy by pursuing an export oriented model its efforts has been stymied by trade sanctions from major foreign powers and the United Nations in response to various aggressive acts on the part of Iran that have only recently been lifted. As a result Iran has had little time to see the effects of modernization. The Iranian Government may appear toRead MoreNorth Korea Is A Rogue State Essay1544 Words   |  7 Pagesregional partners to stabilize the Korean Peninsula by stopping North Korea’s proliferation and testing of nuclear weapons. The current policies have proven ineffective and it is time something different is done before it is too late. The best way to denuclearize North Korea is by guaranteeing their external security; the U.S. gradually lifts economic sanctions, and enter into a regional security agreement with North Korea. The United States has several interests tied to ending North KoreanRead MoreEssay about The Cause of Hatred and Distrust in the Middle East1610 Words   |  7 Pagesend of the Iraq conflict, stems from the partitioning of Palestine, American aid to the Arabs enemies, Israel, Israels control of sites holy to Muslims as well as Israels work in developing the Ethnic Bomb, and the United Nations sanction on Iraqi people for more than a decade. The beginning of the current conflict can be traced back to when the partitioning process took place. According to CIA data: After World War II, the British withdrew from their mandate ofRead MoreDiplomacy As A Communication Process Of International Relations2440 Words   |  10 Pagesto as Diplomacy. Diplomacy according to various scholars is extremely important in the process of implementing a country’s foreign policy and its various objectives in the international community. Some scholars describe diplomacy as a communication process between international actors that seek through negotiation to resolve certain issues and also to push their foreign policy objectives. Research states that the act of conducting negotiations between two people or two nations at a large scope is

What Are We Really Eating - 1143 Words

Bradis McGriff ENVS10 Dr. Williams Rough Draft March 16, 2006 What Are We Really Eating? Everything that we eat has some form of an unnatural chemical in the product. As of late I have been considering only eating organic foods because not only is it healthier, but it is safer. In this term paper I am going to examine a few aspects of organic food. First I will examine what is organic food and what makes it organic? How does the prices of organic food compare to inorganic foods? And why we should eat organic foods rather than inorganic foods? I just want to be as healthy as I possibly can and I feel that organic food is the best food that we can eat. Organic Food is the agricultural produce that farmers make on the country s†¦show more content†¦And by buying organic food, you are registering your mistrust of GMO s and doing your bit to protest against them. If you eat dairy or meat products, going organic has never been more essential to safeguard you and your family s health. Intensively-reared dairy cows and farm animals are fed a dangerous cocktail of antibiotic s, hormones, anti-parasite drugs and many other medicines on a daily basis, whether they have an illness or not. These drugs are passed directly onto the consumers of their dairy produce or meat. which must be a contributing factor to meat-related diseases like coronaries and high blood pressure. About 99% of non-organic farm animals in the UK are now fed GM Soya. And there has never been a reported case of BSE in organic cattle in the UK. Common sense says that organic is safe food. Organic produce simply tastes so much better. Fruit and vegetables full of j uice and flavor, and so many different varieties to try. There are about 100 different kinds of organic potatoes in production in the UK, and that s just potatoes. What else is there to gain from eating organic foods? Organic farms support and nurture our beautiful and diverse wildlife. Over the last thirty years, intensive farming in the UK has led to the erosion of soil, a fall of up to 70% of wild birds in some areas, the destruction of ancient hedgerows, and the near extinction of some of the most beautifulShow MoreRelatedQuestions On Physical Health And Weight Management851 Words   |  4 PagesWHAT? This module is all about physical health. The reading begins with the three function of the food, which sets the tones of eating. The seven components of food gave a basic idea and knowledge of what food really are and what do they do to our body, or why do we need them. All of those were for chapter five and I would say those were the most of the stuff that we need to know to get into nutrition or a diet at this level for right now. As I was starting with the chapter six, the first point theRead MoreCommon Misconceptions : Common Myths1223 Words   |  5 PagesCommon Misconceptions Throughout the world, we hear so many stories that are told to be true and we believe them for hundreds to thousands of years. Sadly, most of the stories are fabricated or are common myths. For example, In the Book of Genesis the forbidden fruit that is mention is commonly assumed to be an apple. Another misconception is you need to wait an hour after eating before you can swim safely. As said in the beginning, The Book of Genesis says that the fruit that Eve was tempted toRead MoreWhat Should We Eat By Michael Pollan1333 Words   |  6 Pagesdebates on peoples eating habits in the United States. Rather its okay to eat whatever citizens want, or letting the government interfere by putting regulations. In the reading section of â€Å"What Should We Eat† from the They Say I Say book, Authors express their opinions and evidence upon what is right as well wrong in the way people eat and the way they do. Michael Pollan, writer of Escape From the Western Diet, Michael Pollan emphasizes on having to stop eating the way we do in order to escapeRead MoreConcept Essay - Eating Healthy1038 Words   |  5 PagesENG - 105 Concept Essay – Importance of Eating Healthy When thinking of the concept of â€Å"eating right† many people think it simply means consuming tasteless foods and useless fruits and vegetables. But eating healthy is much more than that. Eating healthy means more than consuming the recommended fruits and vegetables, but it also means having a balanced diet that is right for the body; for eating healthy is not one size fits all. By eating healthy, people are able to: supply their bodies withRead MoreDietary Analysis Project On Eating Habits870 Words   |  4 Pages Critique This dietary analysis project showed me how much I really do eat in a day and that everything that I do consume is not the best for my health. I think the things that may influence my eating habits are my family and friends. Both sides of my family loves to cook which usually means high calorie and high fat food. My parents always taught me to not waste food and to always eat everything I was given, even though I learned in the class later back that the habit of cleaning your plateRead MoreAnalysis Of Michael Pollan s Defense Of Food967 Words   |  4 Pagescontemporary nutrition. He not only breaks down the dangers of what we currently eat, but the entire reasoning behind why. He delves into how advertising, scientific claims (be them correct or incorrect) and even politics have changed the landscape of nutrition, and all our eating habits as a whole. He correlates the current epidemic of major health problems in America (obesity, heart disease, and cancer) to our diets and the all of the food we eat causing them. If you are concerned about your healthRead MoreAnorexia Nervosa Is A Serious Eating Disorder1324 Words   |  6 Pages We are all human, and it is only human nature to want to want to look your best and present yourself in the most becoming way possible. All of us at one point in our lives have wanted to change something about our appearance, if not we have entertained the thought at the very least. We live in a society and culture today that puts a tremendous amount of significance on the importance of the body. Not only from a health and wellness perspective, but more along the lines of having a strong desireRead MoreSpeech Essay : What Papa Brought Home Major709 Words   |  3 PagesGuess what papa brought home Major. Baby chicks! Look at them all! Do you think they’re comfortable? Yeah. how are you? What colours are they? There are brown, black and white ones. Do you know how old they are? 3 days old! Do you see the water, see that one drinking, see how he puts his beak in the water and lifts his head, isn’t that fantastic! Thats how they drink. Were gonna shut the door so they do n;t get a draft, cause when the wind comes in they’ll get cold. Thats one thing thats reallyRead MoreHow Being Moral Include Animals1261 Words   |  6 Pagesare many perspectives for eating food: one states that everyone should be vegan- someone who does not eat any animal products like meat for certain reasons that might be righteous or even health and religious reasons in order for animals, especially cattle, to live life they deserve. Another point of view is that some people believe that eating meat and other animal products do not differ from any other type of food like fruits and vegetables; and the stoppage of eating animals will increase theirRead MoreThe Media Literacy Paper : Coca Cola1136 Words   |  5 Pagestelevision commercial ads such as the one in the UK called â€Å"Grandpa.† Looking over the history of this well-established brand, watching this specific media message, going over type of ingredients we are actually consuming, analyzing what this ad is trying to say versus what it is really saying, then we can also discuss if this ad sends a positive or negative message across to their audience. Let’s start from the very beginning. Coke was invented by a pharmacist named John Pemberton in 1886 who fought

Fundamentals of Corporate Finance for Topics- myassignmenthelp

Question: Discuss about theFundamentals of Corporate Finance for General Topics. Answer: Introduction This report discusses the impact that the AASB 17 has had on leasing firms in Australia. The report reviews and critically analyzes the article by Churyk, Reinstein and Lander(2015). The fundamental characteristics of financial information include a variety of qualitative aspects that a firm should meet to be considered to have fulfilled the requirements of AASB. The paper analyzes the impact of the AASB 17 standard on lease on Australian firms. This is because many lease obligations are not recorded on the balance sheet and the current accounting for leases does not adequately represent the economics of lease transactions. The characteristics of financial reporting that the changes on lease standards are based on include; relevance and faithful representation of information (Hancock, Bazley Robinson, 2015). The paper also discusses how the application of the new standards on leases is expected to affect lease reporting and business agreement between the lesser and the lessee. The pa per also evaluates whether the implementation of the standards complies with the financial reporting characteristics identified above. The two fundamental characteristics of financial statements as stated in the framework are; relevance and faithful representation. The characteristic of relevance states that the information that is generated by an accounting system used by an entity should impact on decision making by that particular entity (Deegan, 2013). All the information obtained by an accounting system should be useful to the entity for which the statements are prepared. It involves both content of the financial information and its timeliness. Faithful representation is a concept that indicates that financial information should be produced in an accurate manner and should represent a true and fair condition of the business. The information presented in the statements should be true and accurate as per the date indicated in the reports. These two characteristics of financial statement are the backbone of accounting standards and rules. The AASB 16 standards will begin implementation in the year 2019. The AASB 16 is a change brought to fill the gaps identified by the IASB on the current standards of recording leases by companies. The AASB 16 has already been identified as a change in standards which will have significant impact on the firms. The standards are expected to affect the asset and liabilities ratio and also to affect the terms of contracts between lessors and lessees (National Institute of Accountants Australia, 2015)`. Implementation of the new standards on leases will result to changes in the financial metrics that are used by various users of financial information. The standards propose that both the lessee and the lesser should apply an ROU model to account for leases as well as subleases (CCH Australia Limited, 2013). The lessor and the lessee should classify whether the lease is Type A or Type B. Type A leases are non-property leases such as those involving equipment and cars. The type B leases invo lves property lease such as land and buildings. In type B lease, the lease term is a very little compared to the economic value of the asset being leased. The liability of the lessee to pay rent fee for the leased asset will increase the liability of the lessee. The lessee should recognize the right of the residual asset for the time in which the lease term lasts. On the lessors balance sheet, they are required to apportion part of the leased and recognize any residual asset. The lessor is required to record the right to receive payments to the leased asset as income. The following is a table extracted from IFRS website showing the presentation and requirement on disclosure under AASB 16;property, plant and equipment is used as an example. Lease assets Amount($) Carrying amount of lease assets 25,430 -Aircraft 21,500 Real estate and other assets 3,971 Additions to lease assets 5,487 The following is a maturity analysis of lease liability based on gross cash flow that is not discounted: Lease liability Amount Less than 1 year 4,238 2 years 3,786 3 years 3,460 4 years 3,166 5 years 2,940 6 years 2,453 7 years 2,401 8 years 2,384 9 years 2,359 10 yrs 1,547 Between 10-15 years 1,965 Above 15 years 1,409 Total undiscounted lease liability 32,108 Income statement example Depreciation of lease 2,674 Aircraft 2,278 Real estate and others 396 Interest on rent (1,882) 4,556 Lease payment(Variable) 78 Sublease incomes 59 Gains on sale and transactions on leasebacks 100 Total lease cash spent (4,319) The new lease recording standards will result to increase in net debt and gearing for many companies. This is because, the new rules will result to an increase in reported debt. The Right of Use will be excluded from the financial report in this case and hence resulting to an increase in net debt. The earnings before interest and tax will also increase. This is the operating lease expense will not be included in the profit and loss account (PKF, 2016). The EBITDA will also be affected by the new AASB 16 standards. This is because, the standards eliminate lease rent as an operating expense, and it is recognized as depreciation by the lessee. This will increase EBITDA which may exaggerate the performance of a company. Share based payment scheme may be based on EBITDA and therefore the scheme need to be reviewed and revised. (Loftus, 2013) This is a complex process and it may force a company to incur extra expenses. The following is an example indicating the recording of subscription as a lease in both the income statement and the balance sheet and how it affects EBITDA. Example: Current lease model Income statement Revenue $15,000 expenses -$500 =EBITDA $14,500 Amortization $500 Net income 14,000 Balance sheet Asset Liability Lease fee -$2000 Example showing change in EBITDA using the AASB 16 standards Income statement Revenue $15,000 -Expenses -$500 =EBITDA $14,500 The above shows an increase in EBITDA when the AASB is complied with. The profits will be lower in the initial lease stages and due to high interest of the upfront payments. The change in the lease standards and regulations will have a very huge impact on the general operations of businesses. One of the repercussions is that it will alter the debt agreements between various parties. This is the change in the accounting system will result to changes in lease fees and the lease period can be altered since the new proposed system puts a lot of emphasis on the lease period and the type of lease that the parties are contracted. Under the proposed standards, the lease fee is expected to decrease as the lease period is about to expire. The share based payment metrics will have to be negotiated between parties again since the new accounting rules will affect the payment of lease fee to the lessor. In addition to this, dividend planning may have to change especially among public companies since the income statement and initial equity will be affected by the new accounting format for leases. The other impact that the AASB 16 will result to increase in expenses by companies and hence affect the profit margins of lessee. This is because, the new standards will increase the risk of leasing and the increase in risk will result to increase in leasing rates which will end up affecting many industries such as in transport and financial sector. Banking covenants will also be significantly affected by the AASB 16.This is because requirements such as complying to specific financial ratios such as debt/equity ratio will be affected (Klynveld, Marwick, KPMG, 2015). The costs which are currently recorded as operating expenses will be recorded as interest expense when AASB is complied with. The change in calculation of these ratios will force banks to renegotiate many of their contracts and conflicts may therefore occur between the parties. The standards set by AASB 16 require that companies recognize the right to use assets and lease liabilities. This is referred to as operating leases in the current system of accounting for leases. By recognizing the right to use and lease liability, the balance sheet may end grossing up and hence affecting the asset base and the debts of a firm. This may in turn lead to more companies in Australia requiring audit since the Corporations Act of 2001 firms must meet one of the following three thresholds in order to be audited; Assets in excess of $12.5m,more than 50 employees and revenue of $25 million and above (Carmichael, Whittington, Ray Graham, Lynford, 2012). Compliance with AASB 16 standards will result to adherence to the two basic characteristics of financial records which includes relevance and faithful representation of information. This is because, the AASB 16 is able to fill the gaps that exist in the current lease accounting standards. The AASB 16 requires firms to recognize the right of use and the liability of paying lease fee. Previously the costs of leasing were recognized as operating expenses under the rent expenses account. In the new system, the costs of renting will be recorded as interests expenses (Berk, Harford,Ford, Mollica Finch, 2013). This will ensure that companies leasing an asset recognize all the expenses that are incurred by the firms hence ensuring full compliance with faithful representation of information. The depreciation expenses of the leased asset also have to be recorded and ensure that as the asset is being used, its value does not remain constant and hence disclosing all the relevant accounting infor mation. AASB also requires firms should distinguish leases based on whether the lessee acquires and consumes a significant portion of the related assets during the lease period. In this case, land and buildings and other tangible assets are amortized using the straight line method. The AASB 16 requires that terms of the lease can only be changed if a significant change in factors affecting the economic incentive of the lessee occurs. This may prompt him/her to extend or terminate the contract. The lessee should separate changes in terms that have been agreed to currently and the terms under the previous agreement (Camfferman Zeff, 2015). This is necessary if there are changes in the rent paid to the lesser and hence increasing the liability of the lessee. The changes should be immediately recorded in the income statement. By recording these changes, the standard is in line with the financial records characteristic of relevance and faithful representation. Conclusions AASB 16 was developed to deal with the issues that arise with the current lease recording standards. These issues are related to revenue recognition for lease rent, disclosures, and matching expenses to revenues. These issues were found to cause transactions and reports that did not represent faithful reporting. The AASB 16 is expected to have a major impact on many firms operations. The new standards are also expected to affect ratios such as Debt/equity ratio, EBIT, EBITDA, and interest expense in comparison to the profit. The change in the calculation of these ratios will affect users of financial information such as creditors and investors. Compliance to the AASB 16 is likely to result o breaking of covenant related to banking and the renegotiation of these covenants is costly and may lead to extra expenses and sour relations between parties. Compliance with the AASB 16 will ensure that firms comply with the basic characteristics of financial statements which include relevance an d faithful representation. This in turn improves the quality and reliability of financial reports in general. References Berk, ., Al, J. E., Harford, J., Ford, G., Mollica, V., Finch, N. (2013). Fundamentals of Corporate Finance. Sydney: P.Ed Australia. Camfferman, K., Zeff, S. A. (2015). Aiming for global accounting standards: The International Accounting Standards Board, 2001-2011. Carmichael, D.R., Whittington, O. Ray., Graham, Lynford. (2012). Accountants' Handbook, Financial Accounting and General Topics. John Wiley Sons Inc. CCH Australia Limited,. (2013). Australian superannuation legislation. Deegan, C. M. (2013). Financial Accounting theory. North Ryde: McGraw-Hill Education. Hancock, P., Bazley, M. E., Robinson, P. (2015). Contemporary accounting: A strategic approach for users. Klynveld Peat Marwick Goerdeler., KPMG International Standards Group. (2015). Insights into IFRS: KPMG's practical guide to International Financial Reporting Standards. Loftus, J. (2013). Understanding Australian accounting standards. Milton, Qld: John Wiley and Sons. National Institute of Accountants (Australia). (2015). Corporate accounting and reporting: A practical approach. Frenchs Forest, N.S.W: Pearson Education Australia. PKF, I. (2016). Wiley IFRS 2016: Interpretation and Application of International Financial Reporting Standards.

Should Children Wear Uniforms to School free essay sample

Should children be allowed to wear uniforms to school? The debate on wearing uniforms to school has been going on for decades. Some schools in America give in to the students, but not in Singapore. Recently, there was a ‘Design Your Uniform’ competition, but I find it ineffective, as not many schools would want to change their school dress code. Firstly, we all have a right to individuality, to make personal choices and to express our personality. This right of free expression includes the way we choose to dress. Making everyone wear the same school uniform infringes on our rights and is a misuse of authority. The right to choose what to wear is particularly important for young people, who often have few other ways of expressing their personality or making choices about their lives. Furthermore, those who are dissatisfied with it may ‘customize’ the dress code themselves. Because children don’t like wearing uniforms, they fight against it in many clever ways, like shortening skirts, wearing non-regulation shoes and hosiery, tying their ties in funny ways. We will write a custom essay sample on Should Children Wear Uniforms to School or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Of course, schools in Singapore disallow this, and therefore may punish the students, which in the end results in a poor teacher-student relationship. This may lead to the disgrace of school uniform and obviously, the school. To me, I feel that the school uniform is often not practical or pleasant to wear. Designs are often old-fashioned and ugly. Clothes that are designed to be worn by all shapes and sizes of student fit no one really well. For cheapness, uniform items are often made of poly-cottons which are hot in warm weather, making the study condition in school even worse for children, as Singapore is already a very hot and humid country itself. The worst would be an assembly days, where the children have to wear ties to school. You may say that having a uniform helps students and parents resist peer pressure. In schools with no uniform, children may feel the need to dress in certain ways in order to fit in. This can often mean buying a lot of expensive and fashionable clothes that families cannot really afford. It can also mean girls being pressured into wearing skimpy clothes to try and look sexy at a very young age. It could even include Muslim girls feeling that they must wear a headscarf even though they don’t want to. But rather than introduce school uniform, why not have a dress code instead? This has all the benefits of uniform without the many disadvantages. While uniforms force all children to wear the same clothes, dress codes give students a lot of choice on what to wear. Only a few unsuitable things are banned for example, very short skirts, crop tops, bare shoulders, etcetera. Hence, I agree to schools not wearing school uniforms. It may benefit both the educators and teachers if this is allowed.