Philosophy of Space and Time Essay Example for Free

Philosophy of Space and Time Essay At the end of the nineteenth century, physicists were looking back at an era of progress unrivaled in known history. Classical, or Newtonian, physics explained the motion of objects in space and on earth, Kepler’s laws accurately predicted planetary motion, and Maxwell’s electromagnetic unified electricity and magnetism theory and predicted, correctly, that electromagnetic waves behaved exactly like light; paving the way for the recognition that light itself was an electromagnetic wave. It appeared that the world was explained. It was not to be. Two revolutionary theories were introduced that changed forever the way in which scientists and lay people alike view the universe. These were the Theory of Relativity and Quantum Physics (Giancoli 730) . Physicists at the turn of the century assumed that any wave must travel through some medium. This assumption required there to be some transparent substance in space that would allow light to propagate through it, much like a ripple on the water. They knew that this could not be air, since light traveled from stars to the earth through the emptiness of space. Another medium had to be responsible. This medium was named the Ether and it was thought to exist in all space. They understood that the ether had a zero density, since it was very difficult to detect (Giancoli 731). Two physicists in the 1880’s, Michelson and Morley, designed a clever experiment that they thought would determine the speed of the Earth in orbit around the sun. They anticipated being able to measure the speed of light in different orientations. They anticipated that the speed would vary with the orientation of the light wave to the ether. What they discovered was that the speed was constant. They believed there experiment was a failure. What their experiment showed, although they did not accept it, was that the ether did not exist. In 1905 Albert Einstein proposed a theory that reconciled this and other issues. This theory would change how scientists and lay people viewed space, time, mass, and energy (Giancoli 730). Einstein’s equation relating mass and energy, E = MC2, is easily recognizable. It brings together matter and energy as different forms of the same substance. This would imply that mass could be converted directly to energy, and vice versa. This radical departure from classical physics had several implications, both for scientists and for our culture. For scientists, the theory of relativity established the ultimate speed limit. The speed of light in a vacuum, c, is as fast as anything can go (Giancoli 748). Culturally, the discovery of relativity and quantum physics made possible such things as nuclear power, nuclear weapons, and medical imagery such as MRI Scans, CAT Scans, and PET scans. The advent of nuclear weapons changed our society. Nuclear attacks were a common theme in Hollywood films. Citizens built there own bomb shelters, argued the pros and cons of the nuclear power industry, and have enjoyed the advances in medicine. Indeed, our society now takes for granted these advances, and assumes that there will be a continued rapid advance as our knowledge base improves. Cosmology, or the study of the universe, has benefited from the theory of relativity. Many phenomenons, such as black holes, are only describable in terms of relativity and quantum physics. The advent of space telescopes, radio telescopes, and optical telescopes that detect emissions outside of the visible spectrum have shown the world the images of a universe unlike the one that was believed to exist just a hundred years ago (Giancoli 914-942). The search for extra-terrestrial life was instigated with the federal governments backing. The private citizens embraced this search, of 3 so much so that when the government quit funding SETI, individual citizens continued to support it. The discovery of relativity, quantum physics, and the new nature of cosmology has changed not only the scientific community but society as a whole. SETI, CAT scans, an Einstein’s name are household terms. The changes in perception of the world around us really cannot be overstated.

KAL 801 :: essays research papers

Flight Synopsis Flight KAL 801 was scheduled to fly from Kimpo Airport in Seoul, Korea to A.B. Won Guam International Airport in Agana, Guam. The flight crew had met earlier to discuss the flight release, weather conditions and fill out all necessary paperwork. And on August 6th, 1997 at 9:27 PM the Boeing 747-300 departed Kimpo Airport for a three hour and fifty minute trip to Guam. The flight crew consisted of a captain, first officer and a flight engineer. The captain had several flight hours as a pilot in the Korea Air Force until Korean Air hired him in 1987. Not only did he have many hours flying a 747, he received a flight safety award from the company president, three months prior to the crash. He also earned two excellent evaluations in the simulator proficiency checks and passed the company’s mandatory Level three English test. In addition, the captain along with his first officer watched a video presentation based on the familiarization of the Guam Airport and studied approach charts several hours before the accident. (Krause, 2003) The first officer had also served in the Korean Air Force before joining the ranks with Korean Air in 1994. Although he was only two years younger than the captain, he had a high number of flight hours as a 747 first officer. However, his performances in the simulator evaluations were slightly above average. One instructor noted that his â€Å"altitude management on nonprecision approach was somewhat less than desirable† and adding that he was â€Å"somewhat slow to carry out directions† (Krause, 2003) The flight engineer was also a very distinguished pilot and was hired by KAL in 1979. Similar to the captain, he earned excellent ratings in his evaluations of crew management and simulator tests, and also passed the English proficiency exams. (Krause, 2003) â€Å"†¦a weak low pressure trough is moving slowly [through] the Mariana Islands†¦resulting in gentle to moderate easterly winds and scattered showers. The effects of the upper level low far to the northeast have diminished during the past 12 hours or so. Light to moderate showers should be expected except for isolated afternoon thunderstorms due to solar heating†, this was the weather report provided by the Guam Weather Station. However, at around 0122, the crew received a message via the Automatic Terminal Information Service (ATIS), â€Å"†¦wind calm, visibility seven [clouds] one thousand six hundred scattered, two thousand five hundred scattered, temperature two seven [Celsius], dew point two four, altimeter niner eight six, runway six in use.

Education Sector Essay

In a globalized economy with a high degree of competition among countries, the success of a nation depends on the educational level of its workforce. Technology has rapidly transformed education by extending learning space beyond the four wall of a classroom. Even though school plays the main role of education, technology offers verities of opportunities to learn more. Such as, Distance learning, online learning communities and access to vast resources and databases, etc. with the help of Information and communications technology (ICT), it allows to improve quality of teaching and learning worldwide. (Bokova, 2013) There are both positive and negative impacts due to technological advancement in education sector. Affordability: Even though developed counties are able to afford this, most of the developing countries struggle to equip the basic ICT devices. However there are things which they can afford, such as mobile phone, it would help to connect teachers, students, parents and administrators. Capacities: National policy-makers sometimes may lack to formulate ICT in educational policies. In some developing counties teaching institutes frequently lack to trainer the teachers with ICT education practices. Which would lead to less ICT education in school levels. Inclusion: People who live in rural area, disabled people typically receives low quality educations, even though they have special educational needs. Introduction of ICT would favour inclusive education and reduce inequalities. Content: there are more teaching modules available by the help of ICT. Open Educational Resources (OERs) hold significant potential to accelerate free access to knowledge and facilitae the adaptation of content to local needs and languages. Quality Assurance: ICT can help the education system to be much easier, but some developing countries still haven’t been duly reformed to embrace these new learning outcomes. And issues such as quality of ICT-based learning and safety of children online needs to be addressed. (Bokova, 2013).

Beowulf And The Pagan Elements - 1944 Words

Beowulf was written in England about sometime in the 8th century. This provides us with an idea of that when the poem was written during a time when society was in the process if being converted from the Paganism Religion to the Christianity Religion. The Christian influences were combined with the early folklores and heroic legends of the German tribes, that whether or not Christian and bible influences were added later on to the original document. The fact that Christianity and Paganism were so closely intertwined with each other in the poem is the reason that Beowulf has both of the influences of Christianity and Paganism influences. The Pagan elements in the poem of Beowulf are shown by the character’s having superhuman personifications. Beowulf is depicted as a superhero, who takes it upon himself to save the great Danes from the monster Grendel. In his battle with Grendel, Beowulf chooses not to use weapons against the monster Grendel. He wants to fight him in a fair fig ht, he relies on his super strength to win the fight. During the fight, his strength takes over and he wrestles with Grendel until he is able to rip, Grendel’s arm out of socket. Let’s start with how Christianity was introduced, by the character Beowulf always trusting in god as his protector and how that God uses him as an epic hero type to slay the monsters Grendel and the other monsters as well that are hurting King Hrothgar and his people. Beowulf’s courage and faith is shown throughout the story,Show MoreRelatedChristian and Pagan Elements in Beowulf926 Words   |  4 PagesChards CHRISTIAN AND PAGAN ELEMENTS IN BEOWULF The poem Beowulf is full of Pagan and Christian elements, this combination gave place to many discutions about the origin of the poem. On the one hand some scholars have said that this is the result of a transcription made by some monks where they added the christian elements, on the other hand it is believed that the poem was written in a period in which the Anglo-Saxons were being converted from their worship of Germanic Pagan gods to the ChristianRead MoreTheme Of Christian And Pagan Elements In Beowulf978 Words   |  4 Pageseowulfs representation of Pagan and Christian elements Beowulf was written during the time that society was in the process of converting from Paganism to Christianity. Early Christianity developed in the Roman Empire, where many religions were practiced and formed into paganism. Paganism is commonly used to refer to various, largely unconnected religions and beliefs from that time period. Beowulf was written in England between the 8th and 11th century. The name of the author is unknown, but referredRead MoreComparing Beowulf And The Epic Of Beowulf937 Words   |  4 PagesEmpire. In the story Beowulf, his actions portray him, indeed be an epic hero. Both Christianity and Paganism are both portrayed throughout the epic Beowulf. Beowulf frequently speaks of God throughout the story, while there are also many Pagan elements that are evident throughout the story as well. In addition, It s hard to ignore the Christian and Pagan elements in Beowulf. These types of elements are what define the heroic warrior in the epic Beowulf(Vengeance the P agan and Christian Inspiration)Read MoreTheme Of Paganism In Beowulf1179 Words   |  5 Pageslongest epic poem ever written in the genre of Old English is â€Å"Beowulf†, it has been composed in the native language as spoken during the Anglo-Saxon reign in England, preceding the Norman Conquest. Beowulf is regarded as a classic tale which relates the defeat of evil and triumph of good. The poem is divided into three acts. Christian and Pagan Influences in Beowulf: The Pagan deities, rituals as well as pagan ideas influenced Beowulf, when it was being created, though the passing down of the epicRead MorePaganism In Beowulf953 Words   |  4 PagesChristianity and Paganism in Beowulf Beowulf was composed when England was transitioning from a pagan to a Christian culture. In chapter 3 of A Little History of Literature, it is said that Beowulf was likely written by a Christian monk who inserted Christian themes into the story. This is why Beowulf reflects both Christian and pagan views. These two religions and their elements affect the story in different ways. There are pagan views of fate and fame in Beowulf, but there are also ChristianRead MoreBeowulf Is A Pagan Work Essay519 Words   |  3 Pages The poem Beowulf was written in England sometime in the 8th century. It was written during a time when the society was in the process of being converted from paganism to Christianity. The Christian influences are combined with early folklore and heroic legends of Germanic tribes. Yet, the pagan elements in the epic poem Beowulf clearly overshadow the Christian elements, and it is visible in the character’s superhuman personifications, their hunger for revenge, and their strong belief in fateRead More Beowulf: Christian Vs Pagan Influence Essay1652 Words   |  7 Pages The European epic, Beowulf, was written sometime in the eighth century in England. This time period provides us with an idea for the mixture of Christian and pagan elements because of an English society that was in the process of converting from Paganism to Christianity. Examples of Pagan and Christian traditions are presented all throughout literature. Many of the influences deal with what it going on in the world, when the piece is written. When Beowulf was written, St. Augustine had just comeRead MoreBeowulf as a Pagan Oral Tradition Essay1658 Words   |  7 Pages The unknown author of Beowulf uses examples throughout the poem that suggest the story comes from an oral tradition. In the poem Beowulf, a Germanic scop, or bard, recites poetry orally, or in a song, usually telling stories about historical triumphs and adventures. These poets were referred to in this epic poem as carriers of tales..., traditional singer[s] deeply schooled in the lore[s] of the past (Beowulf 50). T his was common in Germanic culture. Scops would keep folkloric heroes aliveRead MoreChristianity : The Rise Of Christianity1512 Words   |  7 PagesAnglo-Saxon tradition, which is from where the epic poem Beowulf is thought to have originated circa 550 AD. Due to the origins of Beowulf being surrounded by Pagan tradition and culture and reliance on the method of oral recitation of the story, the poem holds Pagan influences. Examples of these influences include the monsters that Beowulf faces in the story, idol worship, and burning the dead among many other elements. Also around the time of Beowulf, the rise of the Jesus Movement, which eventually becameRead MoreReconciling Ingrained Traditions with Newly Emerging Christianity1203 Words   |  5 Pages Before the eighth century, England was a pagan society, the English originated from a society marred in idolatry and polytheism. The intermingling of Christian and pagan elements in Beowulf are consistent with the attitudes toward religion that are found in Bede’s Ecclesiastical History of the English People. Beowulf was written in the Middle Ages (500-1000) on Scandinavia, which was a highly pagan society, however the narrator is telling this story within the timeframe of medieval Anglo-Saxon

Essay on The Importance of Stem Cell Research - 1060 Words

Imagine a world where the diseases we know today are virtually eradicated, and where incurable injuries are a thing of the past. Even though this sounds like a science fiction movie, advances in modern science are making this statement more of a reality than a dream. This can be accomplished through stem cell therapy and cell differentiation. Stem cell therapy is like an intervention, in which new cells are introduced into the body or tissue in order to treat a disease or injury (Haldeman-Englet, Chad). Cell differentiation is the process in which a cell has the potential to become physically/fundamentally and functionally different from one another Also meaning they are pluripotent (Smith, S.E). These special cells have many uses, thus†¦show more content†¦Somatic stem cells, also called adult stem cells, may also be used, however they have been said to not proliferate as quickly as the embryonic stem cells. Somatic stem cells are found throughout all the body tissues excep t in the ovaries or the testis. Then these somatic stem cells can then be transplanted into the recipient to encourage their own stem cells to begin the repair process. Also the somatic stem cells can be manipulated into other cell types, which is a well controlled process of genetic modification (Stemcells.nih.gov/info/basics/basics4.asp). It is a safe procedure and because they are the recipients own stem cells the body will not reject them. Using the adult stem cells will also eliminate a lot of controversy that surrounds the use of embryonic cells. Transdifferentiation, a theory which states that a non-stem cell could be transformed into a different type of cell is also being experimented with. This is also known as Somatic cell nuclear transfer (SCNT), which is a reprogramming technique that is also used in cloning technology. This has been reported to happen within some organisms such as a newt, and results in regeneration. (http://encyclopedia.thefreedictionary.com/transdiff erentiation). Many speculate as to the awesome potential stem cells have. Stem cells notShow MoreRelatedThe Importance Of Stem Cell Research1278 Words   |  6 Pagespaper, there has always been a lot of controversy surrounding stem cell research and the ethically rights researchers have obtaining it, let alone experimenting with it. Therefore, it is no surprise that before RCT with stem cells on humans were approved and accepted, trials were done on mice and rats. While it is not ideal and in no way similar to the effects on humans, experiments done during this phase were useful in viewing how stem cells actually alter and impact osteoarthritic joints. In an experimentRead MoreThe Importance Of Stem Cell Research805 Words   |  4 Pageshereditary altering. In stem cell research, â€Å" An isogenic human iPSC cell line precisely corrected by the CRISPR-Cas9 system was recently constructed, despite the handling difficulties associated with gene editing of human stem cells† (Kim, â€Å"CRISPR-Cas9: a promising tool for gene editing on induced pluripotent stem cells.†) iPSCs, which are fundamentally the same as embryonic stem cells, are pluripotent cells with a high self-reestablishment rate that can separate into all cell sorts; be that as itRead MoreThe Importance Of Stem Cell Research812 Words   |  4 Pagesscientists has recognized a vital regulator of hematopoiesis, the process of making new blood cells after bone marrow transplants, bone marrow injury, and during systemic infection, creating new blood cells, including immune cells. This regulator is a protein known as the Del-1 (developmental endothelial locus–1). Researchers have deemed that focusing on Del-1 will be an effective way to upgrade stem cell transplants for both donors and recipients. It is also determined that there could be also methodsRead MoreThe Importance of Stem Cell Research Essay1649 Words   |  7 Pagessuch as above kill off important cells that reproduce rapidly to help the body function normally. Well, what alternatives does one have to turn to when the time clock runs out for all cells, resulting in death. Stem cell usage is a second chance given that doesn’t set death as an essential from these fatal diseases. Stem cell research is an unaware issue to society that could possibly be the antidote to saving lives, and to others who are familiar with the research is a controversial issue on howRead MoreThe Importance of Stem Cell Research Essay2451 Words   |  10 Pagesto stop taking risks†. Dr. Elias Zerhouni fro m the National Institute of Health gave this quote during an interview to a reporter in 2007. He was referring to Stem Cell research, a controversial medical issue of today. Louise Brown of Manchester, UK owes her life to scientists and doctors taking risks and exploring the world or Stem Cells. In 1978 she became the first baby to be born via in-vitro fertilization, a process where a woman’s egg is harvested and mixed with male sperm to become fertilizedRead MoreThe Importance of Stem Cell Research Essay examples1503 Words   |  7 Pagesmedical research of scientists improves, new treatments are found that enable people to have a longer lifespan and live healthier. Medical researchers continue to discover new medicines that help people overcome fatal diseases and allow them to achieve a more sustainable life. As scientists research the potential of treatment for diseases, there is a promising future in stem cells that offer a possible treatment for a wide variety of disea ses. Scientists discover the capabilities of stem cells throughRead MoreThe Importance of Stem Cell Research Essay example1686 Words   |  7 PagesOver the last decade the use of stem cells has been a controversial and heated topic. Debates have exploded over every aspect of stem cell research. It has been speculated by scientists that stem cell research may have the potential to cure harmful diseases or even regrow organs. However some find that the health issues seen in earlier attempts to use stem cell transplants and ethical controversies involved with extracting stem cells, make it very dangerous to further investigate. In actuality theRead MoreStem Cell Research in America: A Perfect Storm of Ideology, Politics, Science, and Religion1818 Words   |  7 Pagesï » ¿Stem Cell Research in America: A Perfect Storm of Ideology, Politics, Science, and Religion By: Me March 30, 2012 Abstract This paper discusses the recent history of stem cell research in the United States, tracking the controversies, politics, and promise of new technology that comes with a moral price. Starting in August of 2001, with President Bushs request that Stem Cell Research not be paid for with federal funding, the battle of science against religion began. (Rosenburg, 2001) DespiteRead MoreThe Expanding Field of Stem Cell Research744 Words   |  3 PagesStem cell research is one of the most widely expanding areas of scientific research being conducted all over the world today. In basic terms, stem cell research is the research of stem cells; however in actuality is much more complicated. A stem cell is a cell with the ability to develop into any of the cell types that make up the tissues and organs of the body. This makes these cells highly useful and provides limitless potential in the field of regenerative medicine. There are two expansive linesRead MoreResearch Essay : Stem Cell Research961 Words   |  4 PagesBiology Research Essay Erica Ford In recent years, there has been a lot more talk about stem cell research than ever before. The idea of stem cells arose in the 1960 s, with the first successful bone marrow transplant in 1968. Now, stem cell research is a widely known topic in biotechnology and shows a substantial amount of scientific promise. The future of stem cell research and the impact it could have follows with many questions on people s minds, as well the simple curiosity of what

Is Cloning Be A Debate Of Morals And Human Privileges

Human cloning is unethical since it steps back from human identity. In addition, it brings emotional mental damage for the cloned kid and absolutely discards the basic biological gene selection. For the most part, not a single person can manage to ignore the procedure that is made in science today. Whereas scientific research, for instance grants us information and the procedure of being able to clone human beings, which is something nobody ever assumed could be possible. After watching the movie, â€Å"Closer To God†, a genetic scientist cloned the first human individual. At last his work is defenseless by the public overall hides a dull secret, in a flash I asked myself, Is cloning going to benefit society or harm society? Therefore, it is my†¦show more content†¦As for my opinion about cloning, I personally think it’s incorrect for scientists to attempt to create a human life. Due to the fact in certain cases I support cloning of organs and skin cells of ani mals that are being extinct. I hope to have sufficient amount of information about cloning by researching, prior to stating my opinion about this topic. Cloning: The word cloning originated from the Greek language, which means to sprout or branch. In addition, cloning is an asexual reproduction in which a fertilization process has to take place within the chromosomes. For this reason, cloning works by creating an existence which is genetically identical to one model. In this situation, cloning an animal from an adult was thought impossible considering it engaged sufficient amount of procedures. In Dolly, the Scottish white-face sheep’s case, the result of this arrangement was about the identical clone of the offspring that provided the end result of the original egg, which was fertilized naturally. The procedure of cloning, nevertheless doesn’t create a precise reproduction of any parent. Being that Dolly’s birth was the outcome of cloning by operating a skill known as somatic cell nuclear transfer. According to (Basic science partnership Harvard medical school, n.d.) it says, â€Å"Cloning an individual from a differentiated cell would require reprogramming the differentiated cell back to its

Accounting Theory and Issues Preparing Business Concerns

Question: Discuss about the Accounting Theory and Issues for Preparing Business Concerns. Answer: Introduction The present study sheds light on the accounting theories and concepts and the way business concerns prepare and present their general purpose financial reports. The current study elucidates in detail the aims, objectives and background of three top 100 (Australia Stock Exchange-ASX) listed organizations, namely, BHP Billiton, CSR Limited and Woolworths Limited. In addition to this, the present study expounds in detail the conceptual framework of the three different organizations in order to carry out a comparative study of the framework for the preparation and presentation of financial statements. Furthermore, the present study also explicates in details the contents of the three business concerns and carries out a comparative analysis between the three different companies. Subsequently, the current section carries out a relative study of the remuneration structure, conceptual framework along with different issues of the accounting of the three different companies. Thus, it can be sa id that the current account illustratively a comparative statement of the accounting principles and issues with special orientation to the operations of BHP Billiton Limited, CSR Limited and Woolworths Limited. Background BHP Billiton Limited is a publicly traded well known Anglo-Australian transnational mining, metals as well as petroleum corporation, publicly traded in the ASX (Bhpbilliton.com 2016). BHP Billiton, headquartered in Melbourne, Australia is the largest mining corporation in the world enumerated by the market values of 2015 and is the fourth largest business concern in Australia in terms of revenue (Bhpbilliton.com 2016). CSR Limited is a gigantic publicly listed Australian industrial corporation that operates in the building material industry. The company, headquartered in New South Wales, Australia, operates in Australia, New Zealand and United States and markets products such as glass, bricks plasterboard, insulation as well as aluminium (Csr.com.au 2016). Woolworths Limited is a Australian retail giant that is publicly traded in the Australian Stock Exchange. The company, headquartered in New South Wales, Australia, operates in the retailing industry and serves in Australia, New Zealand and India (Woolworthslimited.com.au 2016). Woolworths Limited is regarded as the second largest corporation in Australia in terms of revenue, only after the Perth based multinational Wesfarmers. The company operates in different divisions that include the supermarkets, Food For less, liquor section, Petrol and General Merchandise among many others (Woolworthslimited.com.au 2016). Aim The aims and objectives of BHP Billiton are To create long term value for the shareholders of the firm by means of discovery, acquirement, development as well as marketing of natural resources (Bhpbilliton.com 2016). To own as well as operate huge, durable, low-priced, and expandable and at the same time upstream assets branched out in different commodities, geographies as well as market. The aims and objectives of CSR Limited are To deliver increased returns to shareholders by means of generation of growth in revenue and increase in profitability (Csr.com.au 2016) To focus on targeted end markets with the assimilated as well as differentiated products and services with the aim to attain sustainable growth and higher margins with returns The aims and objectives of Woolworths Limited are To deliver growth year on year and to provide consistently strong returns to the shareholders of the corporation To regain momentum in the supermarkets of Australia and to outperform in the liquor business To make clear advancement in the Masters path to productivity, acceleration of the lean retail model to compete in new environment, maintenance of disciplined portfolio management as well as capital allocation Content of companies The content of the company CSR Limited includes mission, overview, accounting as well as tax system, clients and memberships. The objective of the organizations is to enhance the value of the shareholders of the firm by ensuring persistent growth of the corporation. Discussion Comparison between companies The three companies CSR Limited, Woolworths Limited and the BHP Billiton can be compared based on the usage of the accounting standards and principles and the performances of the corporation. The performance of the corporation can be analyzed based on the profitability and the potential for generation of revenue of the corporation (Rankin et al. 2012). As per the compliance declaration in the annual statement of the company CSR Limited, it can be hereby ascertained that the general purpose financial report of the company is in conformation with the Corporation Act 2001. In addition to this, the general purpose financial reports is also prepared after taking into consideration the implementation as well as interpretation of different accounting principles as stipulated under the Australian Accounting Standards Board. The measures comprise of underlying research as well as development expenditure, primary sales, general as well as administrative expends, underlying profit and cost of s ales, operating profit, net profit and earnings per share (Horngren et al. 2012). The consolidated financial statements follow the concept of identifying trade receivables at fair value and thereafter are enumerated at amortized cost (Hong Yang 2012). Again, the inventories of the corporation CSR Limited is essentially valued at net realizable value or else cost whichever is inferior though the strategy is prudent but it understates profit. In addition to this, the corporation CSR Limited also follows the straight-line technique of depreciation that accurately replicates the treatment of asset (Arnold 2011). This helps in presenting true as well as fair value of different assets, liabilities, financial condition together with the profit and loss. On the other hand, the management of the Woolworths Limited prepares and presents the General Purpose Financial Reports in accordance with the Corporation Act 2001 and the Australian Accounting Standards as well as Interpretations, International Financial Reporting Standards (IFRS) (Woolworthslimited.com.au 2016). In addition to this, the financial statements also conform to other obligations of law. Again, the consolidated financial declarations are also prepared essentially in the Australian Dollars that happens to the functional currency of the company. Furthermore, the consolidated financial declarations are also organized based on the historical cost excluding certain assets as well as liabilities that are measured at fair value as expounded in different accounting strategies (Bragg 2011). The management of BHP Billiton Limited prepares as well as presents consolidated financial statements as per the International Financial Reporting Standards as was issued by the International Accounting Standards Board and outlined in the section 41 Basis of preparation and measurement to the financial statements in the financial reports. In addition to this, the management of the company also makes use of different non-IFRS measures that can help in the process of examination of the performance. Again, as per the annual financial statements of the company BHP Billiton Limited, the basis of preparation as well as measurement also conforms with conditions (Bhpbilliton.com 2016). Comparative assessment of the financial performance The companies can also be compared based on different measurement of performance of companies. The structure for preparation as well as presentation of financial declarations reflects the fact that different items that raise the economic benefits are essentially included as the income and different items that decrease the economic benefit of the firm represents the expenses of the firm in the income statement of the corporation (Devi and Hooper 2012). Again, the analysis of different items of financial performance can include the revenue and profitability. The analysis of the financial reports in the annual statements of the company BHP Billiton Limited reflects the fact that the revenue of the company during the year 2015 was registered to be US $44638 million (Bhpbilliton.com 2016). The consolidated income statement of the company reveals the fact that the revenue has decreased from US $56762 registered during 2014 to US$44638 in 2015. Again, the consolidated financial statements a lso reveal the fact that the revenue generation of the corporation has declined consistently throughout the three-year period. Again, the annual statement of the BHP Billiton reveals the fact that the attributable profit of the corporation was recorded to be US $ 2884m, US $1384 m, US $ (1312) m, US $269 m and US $ (1512) m (Bhpbilliton.com 2016). However, the dividends of the company have increased throughout the five-year period of 2011 to 2015. The dividend of BHP Billiton Limited has reached US$6.6 billion (Bhpbilliton.com 2016). This reflects the fact that the cash flow of the corporation has also declined during the period 2015 as the sales revenue has declined on one hand and the dividend payout has increased. Again, the assets of the corporation have also decreased from US $151413 in 2014 to US $124580. Finally, it can be said that the attributable profit, revenue and the dividend declaration of the corporation can be considered as the performance measurement criteria for the corporation. Figure 1: Consolidated Income Statement of BHP Billiton Limited (Source: Bhpbilliton.com 2016). Again, the analysis of the financial performance of Woolworths Limited includes the examination of the revenue and the net profit of the firm from the income statement of the corporation. The total revenue of the firm was recorded to be $60868 million during the year 2015 (Woolworthslimited.com.au 2016). The revenue of the firm declined to $60868 from $ 60952.2 million recorded during the year 2014. Again, the profit of Woolworths Limited was also recorded to be $2146 million during 2015 that declined from the figure of the year ago period (Woolworthslimited.com.au 2016). As such, on a statutory basis, after replication of the influence of important items, net profit after tax decreased 12.5% to $2,146 million (Woolworthslimited.com.au 2016). The total dividend paid by the corporation during the period 2014 was $907.1 million that increased to $912 million in the year 2015. Therefore, it can be hereby ascertained that although the profit for the year declined in 2015 as compared to t he previous year 2014, the company declared greater dividend during the year 2015. the dividend declaration per share of the company increased from $122 in 2011 to $126 in 2012 per share. Thereafter, it increased to $133 in 2013 and to $137 in 2014 and subsequently to $139 in 2015 per share (Woolworthslimited.com.au 2016). The financial performance of the company Woolworths Limited can be regarded to be disappointing. On the other hand, the revenue of the corporation CSR Limited has increased from $1746.6 million in 2014 to $2023.4 million in 2015. However, the profit for the duration of the corporation CSR Limited increased from $80.5 million in 2014 to 146.5 million in 2015 (Csr.com.au. 2016). However, the analysis of the balance sheet of the company CSR Limited also reveals the fact that the total asset of the corporation also increased during the period 2015 as compared to the previous years figure (Csr.com.au. 2016). Comparison of the financial position of the three corporations in terms of revenue Particulars 2015 USD million BHP Billiton $44636 Woolworths Limited $60868 CSR Limited $2023.4 Comparison of the financial position of the three corporations in terms of dividend declaration Particulars 2015 (Amount in million $) BHP Billiton 6600 Woolworths Limited 912 CSR Limited 68 Comparison of remuneration report As per the annual statement of the company Woolworths Limited, the remuneration structure of the report upholds the achievements of definite business outcomes that can ensure delivery of value of the shareholders (Devine 2012). The remuneration framework of the company Woolworths Limited includes the total fixed remuneration, variable reward that constitutes the total reward potential. The total fixed remuneration includes the base salary, superannuation and the car as well as other benefits. However, the variable reward includes the short term incentive plan and the long term incentive (Doupnik and Perera 2012). The short term incentive plan of the company that is essentially linked to the performance of the firm declined to 0.14% in 2011, 0.12% in 2012, 0.14% in 2013, 0.13% in 2014 and finally to 0% in 2015 (Woolworthslimited.com.au 2016). Figure 2: CEO remuneration of Woolworths Limited (Source: Woolworthslimited.com.au 2016) The long term incentive plan enumeration remains same with previous years that is the weighted 50% as against comparative total shareholder return (TSR) as well as 50% as against cumulative average EPS (Woolworthslimited.com.au 2016). However, the performance period for the long term incentive plan is reduced from 5 years to 3 years. the long term incentive plan is also linked to performance of the firm. The company Woolworths Limited has the People Policy Committee that oversees the remuneration policies of the organization (Woolworthslimited.com.au 2016). Again, the independent auditor of the firm, Deloitte, declares that the remuneration report of the firm are prepared and presented in compliance with the 300A Corporation Act 2001. As per the report, it can be hereby ascertained that the management of the company makes payment of $3806 during the year 2015 to the chief executive officer (Woolworthslimited.com.au 2016). Figure 3: Linkage of remuneration with the performance (EBIT) of Woolworths Limited (Source: Woolworthslimited.com.au 2016) On the other hand, the analysis of the remuneration report of BHP Billiton Limited replicates the fact that the company has a remuneration committee oversees as well as monitors the remuneration strategy of the firm. This committee also formulates the remuneration strategy that supports the implementation as well as achievements of the group and aligns the same with the ongoing performance of the corporation (Duska et al. 2011). The remuneration strategy of the firm follows the charter that too in turn can serve the interests and enhance the value of the shareholders of the corporation (Freeman 2011). Like the remuneration structure of the Woolworths Limited, the remuneration framework of BHP Billiton Limited is also directly linked to the performance of the corporation. However, the remuneration report of BHP Billiton Limited is essentially governed by different legislations in the nation UK and Australia (Bhpbilliton.com 2016). The company therefore follows the UK Companies Act 200 6 along with the large as well as the Medium Sized Companies as well as Groups for the formulation of the remuneration report in UK (Bhpbilliton.com 2016). Nevertheless, in Australia, the remuneration report follows the requirements of the Australian Corporation Act 2001, Australian Accounting Standards along with the IFRS. As per the remuneration report, the components of the remuneration consists of the base salary, pension, benefits, short term as well as long term incentive. The total remuneration of the CEO is registered to be USD 4582000 in 2015. However, the remuneration of the CEO during the financial year 2014 was recorded to be USD 7988000. Figure 4: Remuneration structure of CEO of BHP Billiton (Source: Bhpbilliton.com 2016). As per the annual statement of the corporation CSR Limited, it can be hereby ascertained that the management of the company prepares the remuneration report in compliance with the 300A of the Corporations Act 2001 as well as the Corporations Regulations 2M.3.03. The variable fraction of the remuneration of CSR Limited is also related to the performance of the firm. The remuneration report reveals the fact that the total remuneration of the CEO is recorded during the latest year. The elements of the remuneration structure also differ from the remuneration reports of the other two corporations. The components of the remuneration of the CSR Limited include the salary, taxable benefits as well as annual bonus (Csr.com.au. 2016) Figure 5: Remuneration of CEO (Source: Csr.com.au. 2016) Comparison of the conceptual framework The CSR Limited is a for profit entity listed in the Australian stock Exchange. The annual statement of the company comprises of the financial declarations of the group as well as its controlled business entities. As per the compliance declaration in the annual statement of the company CSR Limited, it can be hereby ascertained that the general purpose financial report of the company is in conformation with the Corporation Act 2001 (Aasb.gov.au. 2016). In addition to this, the general pupose financial reports is also prepared after taking into consideration the implementation as well as interpretation of different accounting principles as stipulated under the Australian Accounting Standards Board. The conformation with the accounting principles makes it certain that the financial declarations of the firm are presented as per the International Financial Reporting Standards (Scott 2012). The basis of measurement used in the financial statements also conforms with the conceptual frame of accounting and therefore, the financial measurements are based on historical cost except certain assets and liabilities (Rankin 2012). The conceptual framework also includes the recognition criterion. CSR Limited identifies revenue at fair value given different conditions. The leases are entered in the financial accounts on a straight line basis over a certain period. In addition to this, the borrowings are identified at fair value and the payables at amortised cost. Several items are measured as per the recognition criterion as mentioned in the accounting standards (Wolk et al. 2013). The management of the Woolworths Limited prepares and presents the General Purpose Financial Reports in accordance with the Corporation Act 2001 and the Australian Accounting Standards as well as Interpretations, International Financial Reporting Standards (IFRS) (Ifrs.org. 2016). In addition to this, the financial statements also conform to other obligations of law (Source: Woolworthslimited.com.au 2016). Like the CSR Limited, the revenue of CSR Limited also recognizes the revenue at fair value. In addition to this, the trade as well as the other receivables is identified at fait value as it is in CSR Limited. However, the goodwill reflects the cost of acquirement over the fair valuation. In addition to this, the equity instruments are also identified at fair value after the initial recognition (Aasb.gov.au. 2016). The general purpose financial reports therefore comply with the AASB Conceptual Framework. Similarly, the bhp Billiton follows the regulations laid down under the Corporation Act 2001 UK Companies Act and the Australian Accounting Standards Board (Austlii.edu.au. 2016). Comparison of the conceptual framework Company Accounting Standards and Regulation Woolworths Limited Corporation Act 2001 and the Australian Accounting Standards as well as Interpretations, International Financial Reporting Standards (IFRS) CSR Limited Australian Accounting Standards and the Corporations Act 2001, Accounting Standard AASB 101 Presentation and preparation of Financial Statements along with the consolidated financial statements adhere to International Financial Reporting Standards BHP Billiton International Financial Reporting Standards (IFRS), outlined by the International Accounting Standards Board, and as outlined in note 4 Comparison of accounting issues between companies The significant issues in the accounting policies that the audit committee of BHP Billiton takes into consideration orients around the carrying value of different long term assets, tax and royalty liabilities, demerger of South 32, closure and rehabilitation provisions (Bhpbilliton.com 2016). Similarly, the management of the company Woolworths also faces critical issues and high degree of risk as well as complexity in adjustments of carrying amounts of different assets and liabilities within the subsequent period that are included in the notes numbered 12,13,16 and 17 (Woolworthslimited.com.au. 2016). The accounting issues identified in the Woolworths Limited include the discount rates, assumptions of employee benefits, actuarial assumptions. The cash flows of the organization are discounted using a pretax rate that in turn replicates current assumptions of the market regarding the time value of money and there are risks specific to the liability (Woolworthslimited.com.au. 2016). Again, the estimations used for the future employee benefits takes into consideration the future salary as well as wages and are likely to have material impact (Legislation.gov.au. 2016). Furthermore, the actuarial assumptions by the management of Woolworths Limited are likely to have material impact and can be considered as a critical accounting issue. Again, the accounting issues recognized by the audit committee of CSR Limited include the application of the materiality that is regarded as the magnitude of the particular misstatements in the financial statements (Csr.com.au. 2016). The accounting issues also arise out of the material misstatements and the scope of the audit. In addition to this, there are also issues regarding opinions on Remuneration Report of the director as per the Companies Act 2006 and the strategic report. Conclusion The above mentioned report hereby presents a comparative analysis of three different companies that include the BHP Billiton Limited, CSR Limited and the Woolworths Limited. The comparative evaluation helps in understanding the similarity as well as the dissimilarity between three companies and the differences in the financial performance. In addition to this, the current study also helps in gaining deep understanding regarding remuneration report and helps in carrying out a comparative analysis of the remuneration report declared by the three different corporations. Furthermore, the present report also expounds in detail the compliance of the financial statements of the firm with the conceptual framework of the general purpose financial reports. Finally, the study sheds light on different aspects of the accounting issues that are identified while preparations well as presentation of the financial statements of the firm as stated in the annual reports of the respective corporations. References Aasb.gov.au. 2016.Australian Accounting Standards Board AASB - Home. [online] Available at: https://www.aasb.gov.au [Accessed 9 Sep. 2016]. 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