Climate Change Essay Example | Topics and Well Written Essays - 250 words - 1

Climate Change - Essay Example On the other hand, impact of climate change is not always uniform globally due to the difference in exposure and adaptive capacities. The effects of climate change can become worst if other issues such as poverty, ageing population and pollution are combined. The effect on developing and poor countries by the change of climate is huge. This could also extend to advanced economies like the U.S. because they have a connection with the developing countries. Developed countries have an economic connection such as trade, investments, migration, travel, and tourism with the developing. The effects of climate change on New York City could be felt soon if measures are not taken to curb the changing climate. According to Lallanilla (2013), the city could soon witness huge rainstorms, floods and heat waves. This could have huge impacts on New York population and more on the vulnerable persons such as children, the elderly and disabled people. The results of climate change have previously been felt in New York. The hurricane sandy caused serious destruction on October 2012; transport system was halted because of hurricane sandy. The recent march in New York shows that the population in New York and around the world are feeling the effects of climate change. This is evidenced by the huge number of demonstrators who turned up in New York to urge the world leaders to find measures of curbing climate change. Solution to climate change can only be reached by identifying the cause. For example, research reveals that the emission of greenhouse gases is the cause of climate change. Emission result from burning of fossil fuel and coal. Solution is to adopt measures such as the use of renewable energy like wind power and solar

Advanced corporate reporting Case Study Example | Topics and Well Written Essays - 750 words

Advanced corporate reporting - Case Study Example In this report, we will discuss the differences between rules-based and principles-based of revenue recognition standard. Then, we will discuss the recognition criteria for revenue in both the old and new standards. The consistency of the new standard with conceptual framework will also be discussed. This will be followed by discussing the implications of new standard implemented and consequences of the significant changes. Rules-based standards as the name implies, provide sets of detailed rules that must be followed when preparing financial statements. Non-compliance of rules could cause a fine punishment or possible of lawsuits. With rules-based accounting standards, it will help to reduce the risk of misstatement of financial reports and increase the accuracy of financial information, given the explicit instructions for every situation as the Financial Accounting Standards Board (FASB) of the US may anticipate (DePamphilis 2012, 327). However, rules-based standards can be very complex too when preparing financial statements. Some people might look for loophole of rules and regulations to manipulate organisations’ financial figures. Principles-based standards are general guidelines that accountants must use as basis to prepare the financial statements. It is a simple way to apply and provide guidance for accountants to ensure good reporting. Under rules-based, there is less disclosure as what is required is to follow the rules required under a given standard. An example is different old standard on revenues where there is need to follow the requirement for a company is a specific industry to follow the industry specific requirement to recognize revenue. The principles-based accounting standard will have less rules but much will depend on the professional judgement of the accountant who will prepare the financial statement as properly guided the principles of preparing the accounts. In other words, under the