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Impact of Globalization on Borders Topic Proposal Essay

Impact of Globalization on Borders Topic Proposal Essay.

DIRECTIONS: For Essay 3, I want you to provide a proposal for your topic of research. Regardless if you plan to revise Essay 2 or not, you must provide a topic proposal. This includes a set of questions your essay intends to answer. For example, “how do borders impact national identity?”In addition, I want you to compose an outline of your ideas. You can to do this via the KWL method (insert using Microsoft Word) or create an outline using Microsoft Shapes (i.e. Bubble Map or Columns). Finally, write a one paragraph summary of what it is you plan to talk about in the essay. This can be anywhere from 5-12 sentences. Once you are done, submit all of this as one document using the title last name TopicProposalOnce you have submitted your document, please make SpeedGrader comments on the your two assigned topic proposals. When making comments, please use the same type of language you would in a peer edit. All peer reviews will automatically generated once the due date is over.
Impact of Globalization on Borders Topic Proposal Essay

McDonalds organisation structure is similar to those of other companies. Structures can be defined as the way things are set out in an organisation to it consist of groups and individuals working together to achieve a common objective for the organisation. Organisations structures is in the form of written documentation e.g. .Memorandum and articles of associations constitutions, by laws etc. the broad goals and purpose of the organisation, It reflects the interest, membership clientele and core values The Five general types of organisational decisions are defined by structure are policy, management, structural. For example policy matters are decided by the board of directors. Formal office positions are also defined in the structure. The franchisee determines how he or she runs his or her business. The Chief Executive officer/director (CEO) makes the strategic decision for each of his outlets. Usually bases each of his outlet on hierarchy and below him are his/her subordinates. The restaurant organisation structure is usually as depicted below. This represents the organisational structure prevalent in all franchisee of McDonald’s. Source:theofficialboard.com The corporation is based on matrix type of organisational structure with the CEO responsible for operation all over the world. The structure is based on regional, operational and functional. Source:theofficialboard.com McDonald’s culture Organisation cultures are set of customs, ways of working together and shared beliefs to achieve a common goal. This is unwritten. They generally evolve through conversation and they are an influx, constantly changing organisational culture. It interpret the meaning of things, Organisation cultures tells whether an action is bad or good, they give indications of how things are to be done when there are no formal procedures or policy. In large organisations culture may dictate the objectives of the company. McDonalds operates according to four values; quality, service, convenience and value. Part of their organisational culture is the delivery of uniform quality of food and service wherever the branch is located. The cultures associated with McDonalds its System, striving continually to improve products and services, grow business profitably, give back to the community and operate business ethically It places the customer experience is at the foundation of what it does. Comparing organisation structure and culture The features of the structure of organisations are formal lines of authority and responsibility; It assists in defining the formal rights, the rewards and punishments on individual behaviour or groups. The structure is accepted on the basis of rules and procedure. It defines how the organisation works and its inflexible. Organisational culture is the informal way an organisation behaves this arises as a long lived concept often passed down by word of mouth it’s an ideology centred, and defines the good and bad, the winning and losing. It defines the people, events and circumstances, processes information and objects that are important for organisational decision and progress. . CHARACTERISTICS OF CULTURE
University of Sharjah Accounting Question.

I’m working on a accounting case study and need an explanation to help me learn.

Value Relevance of Accounting Information in the United Arab Emirates Jamal Barzegari Khanagha Faculty of Economics, Management and Accounting, Yazd University, Iran E-mail: [email protected] Tel: +989131519858 ABSTARCT: This paper examines the value relevance of accounting information in per and postperiods of International Financial Reporting Standards implementation using the regression and portfolio approaches for sample of the UAE companies. The results obtained from a combination of regression and portfolio approaches, show accounting information is value relevant in UAE stock market. A comparison of the results for the periods before and after adoption, based on both regression and portfolio approaches, shows a decline in value relevance of accounting information after the reform in accounting standards. It could be interpreted to mean that following to IFRS in UAE didn’t improve value relevancy of accounting information. However, results based on and portfolio approach shows that cash flows’ incremental information content increased for the post-IFRS period. Keywords: Value Relevance, IFRS, Accounting Information, UAE 1. Introduction Over the last three decades, the world economy and capital markets have become increasingly globalized and integrated. In this respect, the benefits of having one set of high-quality globally recognized financial reporting standards are significant. Since convergence and harmonization of national Generally Accepted Accounting Principles with International Financial Reporting Standards (IFRS) promises “transparent, comparable and consistent financial information” to guide investors in making “optimal investment decisions” (Jacob & Madu, 2004). The harmonization of accounting standards is also absolutely vital to building long-term global financial stability, creating truly international capital markets and providing full transparency for credit management(Hansen, 2003). The United Arab Emirates (UAE), currently launching itself onto the world financial stage with the setting up of a stock exchange and actively pursuing foreign direct investment (FDI) by embracing globalization, and adopting IFRS (Irvine & Lucas, 2006). Wagdy (2001) asserts that investors’ need for reliable and relevant financial information has been the key factors of accounting reform in the Middle East. These two factors protect domestic and foreign investors from any fraud or misleading financial data. Value relevance approach measures both relevance and reliability because accounting information is reflected in the price (Barth, Beaver, & Landsman, 2001). however, value relevance approach is an instrument to estimate quality of accounting information, which is a prime importance to the well-functioning of the economy (Beuselinck, 2005). Despite all efforts to develop in financial markets, accounting and economic growth, a crucial gap in the literature remains: to the best of our knowledge, there is no empirical research to identify the effect of accounting standards reforms on value relevance of accounting information in the UAE. Consequently, this study aims to investigate the value relevance of accounting information in UAE. In particular, it measures whether the quality of accounting information has improved or whether it has not yet become relevant despite all efforts. The reminder of this paper is organized as follows. Continuance of this section contains background and literature review and followed by a review accounting in UAE. The second section related to methodology subjects and selecting data and sample. The third section discusses research findings. Summary and discussions are presented in the final section. International Journal of Economics and Financial Issues, Vol. 1, No. 2, 2011, pp.33-45 34 1.1. Background and Literature Review A value relevance study is evaluation of the relationship between accounting information and capital market values (market values). Beaver (2002) indicated that the theoretical groundwork of value relevance studies adopting a measurement approach is a combination of valuation theory plus contextual accounting and financial reporting arguments (accounting theory) that allows the researcher to predict how accounting variables and other information relating to market value will behave. Holthausen and Watts,(2001) suggest that value relevance studies use two different theories of accounting and standard setting to draw inferences: (i) “direct valuation” theory and (ii) “inputs-to equity-valuation” theory. Direct valuation theory proposes a link between accounting earnings and stock market value. In direct valuation theory, accounting earnings is intended to either measure or be combined with the equity market value changes or levels. However, Zaleha et al. (2008) point out that the conclusion usefulness paradigm proposes that accounting information is useful if utilized by users of financial statements for, or significantly associated with their decision making (Riahi Belkaoui, 2000) even though the information might not be stated at their best current value (Scott, 2000). Within this conception, the main users are those who make decisions having an impact on firms’ value, specifically decision-making by capital market participants (Beaver, 2002; Riahi Belkaoui, 2000). In discussing the concept of relevance with regard to accounting information, Riahi-Belkaoui (2000) believes that accounting information is relevant if the information can influence decisions made by decision makers (i.e., its value relevance concept). Studies seeking to demonstrate a link between accounting numbers and equity values were first published over 40 years ago. The first such article was by Miller and Modigliani (1966), which used data from the electricity industry to demonstrate that capitalized earnings on assets make the largest contribution to marketplace value. Ball and Brown (1968) and Beaver ( 1968) are generally recognized as the fundamental studies on the information value of accounting numbers. Ball and Brown showed that the information content of the earnings figure is related to stock prices, and Beaver observed both price and volume reactions to earnings reports. Numerous value relevance studies have established, one stream of literature focuses on whether the value relevance of accounting information has declined/increased over time. Prior research provides conflicting views. On the one hand, several prior literatures have found that the value relevance of accounting information has declined in recent years (Core, Guay, & Van Buskirk, 2003; Ely & Waymire, 1999; Francis & Schipper, 1999; Graham & King, 2000; Ho, C-S Liu, & Sohn., 2001; Lev & Zarowin, 1999; Marquardt & Wiedman., 2004; Thinggaarda & Damkierb, 2008). On the other hand, A number studies also have been carried out in recent years that showed value relevance of accounting information has increased. Qystein and Frode, (2007) evaluated the relevance of financial reporting over a relatively long period (over 40 years ). Their research results showed that the valuerelevance of Norwegian GAAP was non-declining throughout 1965 to 2004. Dung (2010) tested the value-relevance of financial statement information on the Vietnamese stock market. The results showed that the value relevance of accounting was statistically meaningful, though somewhat weaker than in other developed and emerging markets. Filip (2010) investigated the impact of the mandatory IFRS adoption on the value relevance of accounting in Romania. Findings suggest that the implementation of IFRS increased the value relevance of earnings. Aljifri and Khasharmeh (2006) investigated empirically the suitability of the international accounting standards (IASs) to the United Arab Emirates (UAE) environment. They used a variety of parametric and nonparametric approaches to examine the underlying factors that could affect the level of adoption of IASs and to evaluate the suitability of such adoption to the UAE environment (e.g. size of company, trading status, type of sector).The study found that there is a general consensus among the user groups (auditors, brokers, finance managers, and financial analysts) on the suitability of adoption of IASs in the UAE. In all of research studies that have been carried out there are no mention of the value relevance of accounting information in the UAE. To the best of our knowledge, there is no empirical research also that uses regression-variations and the portfolio-returns approaches to test of value relevance in this country. Therefore, an evaluation of the value relevance of accounting information, especially after changes in the economic and accounting environment in recent years is an important area to research. Value relevance of accounting information in the United Arab Emirates 35 1.2 Accounting in UAE There are three main regulatory authorities in the UAE corporate sector: the ministry of economy and planning, the central bank, and the emirates securities and authority of raw materials. In addition, the accountants and auditors association is the official body representing the accounting profession in the country. The compulsory disclosure requirements of state enterprises that each company must prepare financial statements, balance sheets, cash flow statements, statements of changes in capital, and the notes to the accounts. It should be noted that in the UAE, companies preparing their annual reports within two to three months of the end of fiscal year (Khaled Aljifri & Hussainey, 2007). According to Central Bank Circular No 20/99, banks, financial institutions and investment companies in the UAE are required to prepare their financial statements in accordance with the International Accounting Standards (IASs) with effect from January 1, 1999. In 2004, the UAE established the Dubai International Financial Centre (DIFC), which is an onshore capital market designated as a financial free zone. In 2006, the DIFC legal framework requires banks and companies listed on the Dubai International Foreign Affairs (DIFX) to implement International Financial Reporting Standards (IFRS). all companies listed on market in Abu Dhabi (ADSM) are required to publish IFRS financial statements since 2003 (Khaled Aljifri, 2008; Deloitte, 2007). 2. Methodology In this study, the regression-variations and the portfolio-returns approaches was used to investigate and to operationalize the value relevance of accounting information. It was because they provide different perspective on the issue of value relevance of accounting information. By using the regression-variations approach, we measured the value relevance as the percentage of variations in the returns or market value explained by the accounting figures. Portfolio-returns approach shows a portion of total returns that could be earned from financial statement information which control for changes in the volatility of market returns over time. 2.1. Regression-Variations Approach A regression-variations approach measures value relevance based on the explanatory power of accounting information as a measure of market value; the ability of earnings to explain annual marketadjusted returns (return model); and the ability of earnings and book values of equity to explain market values of equity (price model). 2.1.1 Earning Return Model A large volume of literature has examined the usefulness of earnings information by employing a market return model (Chen.C. J, Chen. S, & Su. X, 2001; Harris, Lang, & Peter, 1994). In particular, the return model developed by Easton and Harris (1991) has been immensely popular amongst value-relevance researchers (Ali & Zarowin, 1992; Amir, Harris, & Venuti, 1993; Chan & Seow, 1996; Chen.C. J et al., 2001; M. S. Harris & K. A. Muller, 1999; Harris et al., 1994; Haw & Qi, 1999), because it incorporates both earnings level and earnings changes as independent variables in explaining the dependent variable: annual market return on stock. The present study used Easton and Harris (1991) model with adjustments and suggested by Biddle et al. (1995) and used in subsequent research(M. Harris & K. Muller, 1999; Jun Lin & Chen, 2005; Kothari, 2000). Rjt = β0 + β1 EPSjt / Pjt-1 + β2 (EPSjt – EPSjt-1) / Pjt-1 + ejt Rjt: annual return (including cash dividends) of firm j shares for period t Pjt-1: stock price at date of accounting announcement for firm j during period t EPSjt: annual earnings per share for firm j during period t EPSjt – EPSjt-1: change annual earnings per share for firm j from period t-1 to t ejt: error term 2.1.2. Price Model Following numerous prior value-relevance studies (Amir et al., 1993; M. E. Barth, 1994; Burgstahler & Dichev, 1997; Filip & Raffournier, 2010; M. S. Harris & K. A. Muller, 1999; Landsman, 1986), a price model has also utilized in this study in addition to the return model. Unlike the return model, the price model investigates the impact of accounting information on the market valuation of, rather than return on, equity stock; furthermore, a price model examines the impact of not International Journal of Economics and Financial Issues, Vol. 1, No. 2, 2011, pp.33-45 36 only earnings but also book value of equity on stock performance. Traditionally, earnings and book values are considered to contribute to value relevance (Burgstahler & Dichev, 1997; Ohlson, 1995). Currently, however, the main financial statements include income statement, balance sheet and cash flow statement. Thus the study used the model that shows all of the main financial statement as follows: Pjt = β0 + β1 BVPSjt + β2 EPSjt + β3 CFPSjt+ ejt Pjt: the market price per share of firm j at time t BVPSjt: book value of firm j at time t EPSjt: earnings of firm j for period ending at time t CFPSjt: Cash flow of firm j for period ending at time t ejt : error term 2.2. Portfolio-Returns Approach The portfolio-returns approach defines the value relevance of accounting measures as the proportion of information in security returns captured by the accounting measures (Alford, Jones, Leftwich, & Zmijewski., 1993; Chang, 1998; Francis & Schipper, 1999; Hung, 2001) . Thinggaarda and Damkierb (2008) further defined value relevance as the difference between the return on the long position and the return on the short position; that is, the market-adjusted return that can be earned on the long position and the market-adjusted return that can be lost on the short position. This approach measures value relevance as the total return that could be earned from a portfolio based on perfect foresight of earnings. Value relevance is scaled by the total return earned on a portfolio based on advance knowledge of market prices. In this study, this approach attempts to calculate the proportions of all information in security returns that are captured by the earnings, ROE and cash flows. This method aims to provide the evidence of value relevance of earnings, ROE and cash flows by forming the hedge portfolio based on this information. This study used two portfolios a) a portfolio selection based on sign (SIGN-∆EARN, SIGN-∆ROE, SIGN-∆CF); and b) a portfolio selection based on sign and magnitude (∆EARN, ∆ROE and ∆CF). 2.2.1 Portfolio Selection Based on Sign (SIGN-∆EARN) The Portfolio-Returns Approach is based on Alford et al. (1993), Francis and Schipper (1999), Hellstrom (2006) and Thinggaarda and Damkierb (2008). As an example, following is the procedure for selecting a portfolio based on sign of changes in EARN. First, an earnings-based hedge portfolio is created. The primary Firm-specific return (Pit-Pit-1+d)/Pit-1 is calculated for all firms over a 15 month period. The market-adjusted return on security j, R,t , is defined as the compound (with dividend) return minus the return on the value-weighted market portfolio for each year sample ( The study uses all share index return). All companies in the total sample are ranked according to the change in accounting earnings. The change in accounting earnings is calculated on a year basis. A hedge portfolio is formed by going long in shares with positive earning changes and short in shares with the negative earning changes. The market-adjusted return is later calculated for both the long position and short position as an average of returns for all companies included in the long short positions, respectively: Where Rj is a market-adjusted return for an individual company and NL and NS are the number of companies in the long position and in the short position, respectively. Note that NL and NS are equal. The hedge portfolio return (value relevance) is defined as the difference between the return on the long position and the return on the short position: that is, the market-adjusted return that can be earned on the long position and the market-adjusted return that can be lost on the short position: Second, for each accounting-based hedge portfolio and year, the market-adjusted returns on a portfolio formed on the basis of perfect foreknowledge of future stock returns are calculated. This portfolio takes long (short) positions in the stocks in each accounting-based hedge portfolio with positive (negative) 15-month market-adjusted returns. The market-adjusted return on this returns- Value relevance of accounting information in the United Arab Emirates 37 based hedge portfolio in year t is denoted , where H is the type of accounting hedge portfolio. The accounting-based hedge portfolio returns are expressed as a percentage of . This controls for time-series differences in the variation in market-adjusted returns (Francis & Schipper (1999) , and the resulting ratio (denoted %mkt) describes the proportion of all information impounded in stock prices that is captured by accounting information in a given period (Thinggaarda & Damkierb, 2008). 2.2.2 Portfolio Selection Based on Sign and Magnitude As mentioned above, Portfolio Selection based on sign and magnitude applies to ∆EARN, ∆ROE and ∆CF. following is a description for calculating the value relevance of earning with this method. The method for calculating other factors with the same ROE and cash flow is similar. The primary calculations of market-adjusted returns are similar, based on the sign of accounting information. For example, for the ∆EARNjt portfolio, we take long positions in the stocks with the highest 40% of ∆EARNj,t and short positions in the stocks with the lowest 40% of ∆EARNj,t, thereby disregarding the middle 20%. Thus, both the sign and the strength of the change in earnings are extracted from the total available information in financial statements. The market-adjusted return is afterwards calculated for both the long position and short position as an average of returns for all companies included in the long short positions, respectively. The hedge portfolio return (value relevance) is defined as the difference between the return on the long position and the return on the short position: that is, the market-adjusted return that can be earned on the long position and the market-adjusted return that can be lost on the short position. 2.3. Data and Sample The Data for this study were obtained from the Gulfbase database, the stock exchange website of the Abu Dhabi stock market (ADSM) and other database such as Bloomberg and DataStream. Observations were compared across data sources for data accuracy. The study limit to this period and select Abu Dhabi Securities Markets since a) Abu Dhabi Securities Market (ADSM) started operating in November 2000, b) ADSM is larger than The Dubai Financial Market (Khedhiri & Muhammad, 2008; Moustafa, 2004), c) all companies listed on the Abu Dhabi Securities Markets (ADSM) are required to publish IFRS financial statements since 2003 (Aljifri, 2008; Deloitte, 2007) and d) and because of availability of data. The UAE sample is selected from the period 2001-2008 based on following criteria. The number of companies selected was based on several criteria. First, since this study investigates the effects of accounting reform on value relevance of accounting information. It was necessary to have companies in existence both before and after the reform in order to examine the effect of the reform on the value relevance of accounting information. Therefore, companies that were listed just before or just after the reform were excluded. Second, for most companies in UAE the fiscal year ends of December. Since it was necessary to have common period for the calculation of stock returns accumulation across all the sample companies, whose fiscal years ended at some time other than December were excluded from the sample. Pursuant to the application of these selection criteria,, the final samples for UAE consisted of 136 firm-year observations for price model(17 companies for 8 years) and 119 firm-year observations for return model and also portfolio approach (17 companies for 7 years). 3. Research Findings 3.1. Descriptive Statistics Table 1 provides descriptive statistics for all the variables used in the regression analyses of UAE Data. The average per share market value of equity is 5.25UD for eight-year period with mean yearly standard deviation of 4.49UD. This show Investor obtained an average annual 0.362 market return during this seven -year period with an annual mean standard deviation of 1.04. The sample shows the high standard deviation in the dataset, which confirms the variability of firm’s size and industry classification traded in the Abu Dhabi stock market. Panel b and c show this situation was worse in the pre-reform period. Comparing standard deviations EPS, CFP and BVP show BVP has less standard deviation than the mean and others variables. It means better distribution than the other. International Journal of Economics and Financial Issues, Vol. 1, No. 2, 2011, pp.33-45 38 Table 1 Descriptive Statistics Name of variables N mean Std. Dev. median Panel A: Full Sample (2001,2-2008) P3 (Market price per share of firm ) 136 5.25 4.49 3.945 EPS (Earning per share) 136 .39 .43 .26 BVP (Book value of equity-per share) 136 2.73 2.46 1.98 CFP (cash flow per share) 136 .344 .93 .2 R (annual return ) 119 .362 1.04 .145 EPS/P (Earning per share / price) 119 .078 .057 .069 ∆EPS(change annual earnings per share) 119 .016 .063 .0127 Panel B: Before reform P3 (Market price per share of firm ) 34 2.26 1.42 2.08 EPS (Earning per share) 34 0.16 0.15 0.13 BVP (Book value of equity-per share) 34 1.38 1.11 1.11 CFP (cash flow per share) 34 0.28 0.39 0.14 R (annual return ) 17 0.11 0.18 0.09 EPS/P (Earning per share / price) 17 0.06 0.03 0.07 ∆EPS(change annual earnings per share) 17 0.00 0.04 0.00 Panel C: After reform P3 (Market price per share of firm ) 102 6.25 4.73 5.37 EPS (Earning per share) 102 0.47 0.47 0.31 BVP (Book value of equity-per share) 102 3.19 2.62 2.41 CFP (cash flow per share) 102 0.36 1.05 0.24 R (annual return ) 102 0.34 0.81 0.21 EPS/P (Earning per share / price) 102 0.08 0.06 0.07 ∆EPS(change annual earnings per share) 102 0.02 0.07 0.01 *All data are based on UAE’s dirham (UD) 3.2. The Inferential Findings As mentioned earlier, the objectives of this study are to examine value relevance of accounting information, and to compare the value relevance between two regimes in two periods. To operationalize value relevance of accounting information, two empirical valuation approaches are employed: the regression-variations approach and the portfolio return approach. Because these two approaches together provide different perspectives on the issue of value relevance of accounting information. 3.2.1 Regression-Variations Approach Result of coefficient test (redundant variables test and omitted variable test) for UAE suggests price model with two variables (see below of Table 2). Redundant variables test suggests the dropping of CFP variable from model with three variables (.1671>.05). Result of omitted variable test does not advise adding CFP variable to price model with two variable to increases the explanatory power of the model (.4245<.05). The first panel of Table 2 shows that the R2 for the price model specification is 76.6% for the total sample and just coefficient of EPS is statistically significant. Comparison of coefficients indicates that EPS of 4 has a higher explanatory power than any other variable. Therefore, according to price model accounting information in the Abu Dhabi Securities Market (ADSM) is value relevant. A comparison of the two results for before and after reform based on price model, demonstrates that the explanatory power (R2 ) for the period before reform is more than the period after reform. It means value relevance of accounting numbers decreased in the period after reform. Consequently, the result indicates reform in accounting standards did not improve relevancy of accounting numbers in Abu Dhabi Securities Market. In panel B of Table 2 provides the results of the return model. Explanatory power (R2 ) for the return model specification is 30.3% for the total sample. Therefore, according to these results it can be concluded that EPS level and changes EPS information in Abu Dhabi Securities Market are relevant for investors in their decision making. A comparison of explanatory power (R2 ) accounting numbers for the return model indicates decreasing of that in the period (2003-2008), after Value relevance of accounting information in the United Arab Emirates 39 reform in accounting standards. So, the result of the return model also indicates reform in accounting standards did not improve relevancy of accounting numbers in Abu Dhabi Securities Market. Table 2 Result of Regression-Variations Approach Panel A: Price Model Years pit=ß0+ß1bvpit+ß2epsit+eit pit=ß0+ß1bvpit+ß2epsit+ ß3cfpit+eit ß0 ß1 ß2 R2 N ß0 ß1 ß2 ß3 R2 2001- 08 t-st. 2.97 .22 4 .766 136 2.8 .22 4.1 .41 .77 3.4*** .69 7.8*** 3.38*** .7 8.6*** 2.9*** 2001- 02 t-st. .71 .19 7.7 .875 34 .68 .3 7.4 -.28 .90 6.7*** 2.2** 44*** 7*** 5.2*** 14*** -7*** 2003-08 t-st. 2.6 .06 5.6 .45 144 2.59 .02 5.4 .81 .51 5.5*** .49 15*** 6.2*** -.23 15*** 3.9*** Panel B: Return Model Years Rit= ß0+ß1epsit/pit-1+ß2(epsit- epsit-1)/pit-1 +eit ß0 ß1 ß2 R2 N Coefficient Tests of CFP Prob.f Redundant Variables .1671 Omitted Variables .4245 2001-08 t-st. .03 2.4 3.7 .303 119 .17 1.74** 2.11** 2002 t-st -.08 3.2 -.64 .302 17 -.9 2.34** -.63 2003-08 t-st .12 1.5 5.3 .282 102 .4 .66 1.73* Notes: ***, **, * indicates significance at 0.01, 0.05 and 0.10 levels T-statistics based on White heteroscedasticity-consistent standard errors. *for full sample of return model is used GLS with Cross Section Weight * For full sample of both price model are used GLS with Fixed cross section and for sub-samples of price model are used GLS with Cross Section Weight. 3.2.2 Portfolio-Returns Approach Panel A (second column) of table 3 presents results for each year in the investigated period, the mean market-adjusted return on each accounting hedge portfolio (%). The value 19.4 in below ∆EARN for year 2002 means person could earn 19.4 percent net market-adjusted (long position minus short position) in year 2002 if sign of earning changes was used to construct a portfolio. Since this is more than zero it can be concluded that earning changes is relevant for investors to make wellinformed decisions. A comparison of these numbers, ∆EARN (19.4%), ∆ROE (15.1%) and ∆CFP (- 4.4%) for year 2002 shows that cash flow information isn’t relevant for investors in making investment decisions while earnings and ROE information are relevant for investors. This also indicates present earning with (19.4%) is more relevant than the ROE with (15.1%). The value 58.1 under ∆EARN for year 2002 as % mkt ratio indicate that about 58.1% of the total perfect foresight returns are available to investors with advance knowledge of the sign of the earnings change. Panel B of table 3 reveals mean market-adjusted returns on accounting hedge portfolio (%) and that a proportion of the total hedge portfolio market-adjusted returns can be earned by the perknowledge of the accounting information (%mkt) for the investigated period. The results in column of based on the sign; clearly demonstrate that foreknowledge of information in the financial statements would be highly relevant for investors. Investment strategies based on a preview of the sign of the change in ROE would earn an average market-adjusted return throughout the sample period of about 30.1%, compared with 17.4% for the ∆EARN portfolio and 3.9% for the ∆CASH portfolio. On the other word, all the accounting measures seem to be value-relevant to investors. International Journal of Economics and Financial Issues, Vol. 1, No. 2, 2011, pp.33-45 40 The results in second and third line under sign and magnitude (panel B) indicate that accounting information are value-relevant in both period before (2002) and after reform (2003-2008) in Abu Dhabi Securities Market (ADSM). In first period value relevance of SIGN_∆EARN is more than the others while in second period SIGN_∆ROE information is more relevant than others. A comparison of result of SIGN_∆EARN shows that value relevance of accounting information has decreases in Abu Dhabi Securities Market stock exchange after accounting reform in this market. While the results based on SIGN-CASH and SIGN_∆ROE show increase in value relevance for the period after reform. Panel A (first column) of Table 3 shows, for each year in the investigated period, the mean market-adjusted return on each accounting hedge portfolio (%). The value 33.5 under ∆EARN column for year 2002 means person could earn 33.5 percent net market-adjusted return (long position minus short position) based on sign and magnitude of earning changes. Since this is more than zero we can conclude earning information is relevant for investors on the Abu Dhabi Securities Market (ADSM) at year 2002. A comparison of numbers, ∆EARN (33.5 %), ∆ROE (21.8%) and ∆CFP (-2.2%) in first line of panel A of Table 3 for year 2002 show that ∆EARN (33.5%) are more relevant than any others variable for investors. They also show present earning and ROE with 33.5% and 21.8% are more relevant than the cash flow with (-2.2%). The value 92.1 under ∆EARN for year 2002 as %mkt ratio indicates that about 92.1 % of the total market adjusted returns are available to investors with advance knowledge of the sign and magnitude the earnings change. A comparison of the numbers in line for year 2002 demonstrate that earnings and ROE changes are relevant while cash flow is not value relevance for investors in making decision. Table 3 Portfolio-Returns Approach Panel A: Mean market-adjusted returns on accounting hedge portfolio (%) and proportion of the total hedge portfolio market-adjusted returns can be earned by the per-knowledge of accounting information(%mkt)2002- 2008. Year Based on Sign & Magnitude Based on Sing ∆EARN ∆ROE ∆CFP ∆EARN ∆ROE ∆CFP % %mkt % %mkt % %mkt % %mkt % %mkt % %mkt 2002 33.5 92.1 21.8 52.3 -2.2 -5.4 19.4 58.1 15.1 45.1 -4.4 -13.3 2003 10.9 27.7 24.7 62.9 -4.2 -10.7 21.5 64.1 21.5 64.1 -7.3 -21.7 2004 127.3 67.0 126.1 66.4 -18.4 -9.7 -34.8 -22.6 114. 74.0 -11.1 -7.2 2005 19.5 22.4 31.0 35.7 11.1 12.8 30.5 42.4 -10.7 -14.8 -3.2 -4.5 2006 2.3 5.8 -4.6 -11.4 5.4 13.3 0.8 2.4 12.6 37.9 2.2 6.7 2007 -16.8 -15.4 8.7 7.9 -53.9 -49.4 49.4 49.2 46.5 46.3 -45.9 -45.8 2008 -5.3 -12.6 14.4 34.0 25.6 60.7 -3.3 -9.5 1.2 3.5 25.0 72.2 Panel B: Mean market-adjusted returns on accounting hedge portfolio (%) and proportion of the total hedge portfolio market-adjusted returns can be earned by the per-knowledge of accounting information (average for full sample, before and after reform) Year Based on Sign Based on Sing & Magnitude ∆EARN ∆ROE ∆CFP ∆EARN ∆ROE ∆CFP % %mkt % %mkt % %mkt % %mkt % %mkt % %mkt 2002-08 27.6 30.7 31.9 35.9 3.9 11.4 17.4 30.9 30.1 38.7 3.9 11.3 2002 33.5 92.1 18.4 44.2 0.3 0.9 19.4 58.1 15.1 45.1 0.0 0.0 2003-08 26.7 20.5 34.1 34.5 4.5 13.2 17.0 26.4 32.6 37.6 4.5 13.2 Panel B of Table 3 shows mean market-adjusted returns on accounting hedge portfolio (%) and proportion of the total hedge portfolio market-adjusted returns can be earned by the perknowledge of accounting information (%mkt) for the investigated period. The results in column based on the sign and magnitude, clearly demonstrate that foreknowledge of information in the financial statements would be relevant for investors. Investment strategies based on a preview of the sign and magnitude of the change in earnings (∆EARN) would earn an average market-adjusted return Value relevance of accounting information in the United Arab Emirates 41 throughout the sample period about 27.6%, compared with 31.9% for the ∆ROE portfolio and 3.9% for the ∆CASH portfolio. What is interesting in this comparing is that ∆ROE portfolio has higher relevancy. So, the results show all of the accounting numbers are value relevance. Investments based on accrual-based information are more profitable. The accrual-based information is more valuerelevance than cash based information. The results in second and third column reveal that accounting information are value-relevant in both periods before (2002) and after reform (2003-2008) in the Abu Dhabi Securities Market (ADSM). In first period relevancy of ∆EARN information is more than any others variable while in second period (after reform) relevancy of ∆ROE information is more than others. A comparison of results of accounting numbers for two periods show value relevance of ∆EARN and ∆ROE decrease after reform. While the results based on ∆CASH shows that value relevance of accounting information increases. 3.3 Control Variables (Size and Industry Effects) First and second parts of the Table 4 show the result of value relevance in small and large companies and results for finance and non finance companies. The explanatory power of model for small companies’ specification is 32% for the total sample and all coefficients are statistically significant. A comparison of coefficients indicates that the full model EPS with 3.5 has a higher explanatory power than the other variables. Further analysis reveals value relevance of accounting information in small companies (R 2 = 32%) is less than the full sample (R 2 = 76.6%). A comparison of the two results for before and after reform in small companies demonstrate explanatory power (R 2 ) of accounting information decrease from 88% before reform to 39% after reform. It can be seen from Table 4 that in the case of large companies, the value relevance of accounting information for these companies (R 2 = 47%) is less than for small companies (R 2 = 58%) and also less than that of the full sample (R 2 = 766%). Comparing the two results for before and after of reform, it can be seen that value relevance of accounting number decrease from 91% before reform to 37% after reform. Consequently, the results indicated that there is a difference in value relevance of accounting information between large and small companies in Abu Dhabi Securities Market (ADSM). The magnitude and frequency of the transitory elements of accounting information can, and are expected to, vary systematically across industries. Therefore, value relevance of accounting information is different in various industries. For Abu Dhabi Securities Market sample finance companies are chosen because they are the majority in our sample and accounting regulations commonly is different in finance companies compare with other industries. Table 4 Result of Regression Approach based on firm size and industry pit=ß0+ß1bvpit+ß2epsit+eit pit=ß0+ß1bvpit+ß2epsit+eit pit=ß0+ß1bvpit+ß2epsit+eit years 2001- 2008 2001-2002 2003-2008 ß0 ß1 ß2 ß0 ß1 ß2 ß0 ß1 ß2 Small companies 1.9 .515 3.5 .11 1.7 -2 3.2 .29 2.95 t.st. 3*** 2.9*** 4.6*** 1.9 41*** -4.6*** 3.8*** 1.49 4.5*** R 2 .58 .88 .39 N 4 32 4 8 4 24 large companies 5 -2.27 17.3 1.48 -1.7 17 7.6 -2.3 15.4 t.st. 2.5** -5.2*** .5 11*** -7*** 14*** 3*** -5.4*** 7.2*** R 2 .47 .91 .37 N 4 32 4 8 4 24 Finance companies 3.3 2.5 20 .65 .09 9.1 4.4 -2.7 20 t.st. 3.3*** -3.5*** 10*** 3.7*** .15 3.1*** 4*** -3.3*** 8*** R 2 .62 .86 .61 N 6 48 6 12 6 36 Non finance companies 2.7 .36 3.23 1.23 .16 5.69 3.2 .067 5.3 t.st. 3.4*** 1.45 6.4*** 3.6*** 1.38 4.4*** 4.9*** .414 6*** R 2 .758 .53 .397 N 11 bb 11 22 11 66 Notes: ***, **, * indicates significance at 0.01, 0.05 and 0.10 levels T-statistics based on White heteroscedasticity-consistent standard errors. International Journal of Economics and Financial Issues, Vol. 1, No. 2, 2011, pp.33-45 42 The third section of Table 4 shows that the result of R 2 (62%) from the finance industry in Abu Dhabi Securities Market which is less than compare with full sample. A comparison of coefficients with full sample indicates EPS with 20 has a higher explanatory power than the other variables as well and all coefficients are significant. As can be seen from the Table, value relevance of the accounting number for finance industries in the period after reform (R 2 = 61%) is less than the period before reform (R 2 = 86%). It means reform in accounting standards did not improve relevancy of accounting numbers in finance companies. The fourth section of Table 4 demonstrates that explanatory power (R2 ) of the model for non finance companies is 65.7% for the total sample and just coefficient of EPS variable is not statistically significant. Further analysis reveals value relevance of accounting information in non finance companies (R 2 = 65.7%) is a little less than the full sample (R 2 = 66.6%). A comparison of the two results for before and after reform in non finance companies demonstrate explanatory power (R 2 ) of the accounting information decrease from R 2 = 53% before reform to R 2 = 39.7% after reform. Accordingly, the result indicates first, value relevance of accounting numbers in finance industry and non finance companies is less than the full sample Secondly, Reform in accounting standards did not improve relevancy of accounting numbers in non finance and finance companies. Thirdly, there is a difference in value relevance of accounting information between unlike industries in Abu Dhabi Securities Market (ADSM). 4. Summary and Discussions This paper has examined the impact of regulatory reforms in UAE on the value-relevance of accounting information. The value-relevance of accounting information is clearly supported by the current findings from the price model (with two independent variables) in the Abu Dhabi Securities Market (ADSM). A comparison based on price model of periods before and after reform, showed that the explanatory power (R2 ) for the period before reform is higher than for the period after reform, which implies that the value-relevance of accounting numbers decreased in the period after reform. This finding may mean that reforms in accounting standards did not improve the relevance of accounting numbers in the Abu Dhabi Securities Market (ADSM). To provide more convincing evidence of the value-relevance of accounting earnings, this study also used the returns model. The return model indicated that EPS level and changes of EPS information were value-relevant. Results for the return model also documented a decline in the value-relevance of accounting earnings for the period after reform. Findings of both methods based on the portfolio returns approach showed that selected accounting numbers are value relevant for Abu Dhabi Securities Market investors. A comparison of the results of the two methods periods before and after reform showed value relevancy of ∆EARN and ∆ROE decreased during the period after reform. The results also indicated that value relevancy of ∆CASH increased in the period after reform based on both portfolio methods. A comparison of the results of ∆EARN and ∆ROE with ∆CASH show that in the period before reform investors relied on ∆EARN and ∆ROE while in the period after reform they noticed ∆CASH. However, the results showed that accounting reform had effect on value relevancy of accounting numbers although the effect for all selected numbers was not the same. Therefore, findings of two approaches (regression and portfolio approach) supported claims that accounting information is value relevant in Abu Dhabi Securities Market. Moreover, the findings also showed the following: 1) value relevance of accounting information is not the same between small and large companies. 2) Value relevancy of accounting information in small companies is more than large companies in Abu Dhabi Securities Market. In Abu Dhabi Securities Market small companies are more likely to include start-up companies and investors may focus more on accounting numbers of these companies than large companies. As mentioned, value relevance of accounting information in UAE decreased after reform in accounting standards. Cho (2005)asserted the absolute magnitude of price change associated with accountings information was one main possible reasons for changes in the R2, in the case of UAE, referencing to (Barzegari, 2010) market index, price and return In Abu Dhabi Securities Market for years after reform was more than the absolute magnitude of accounting information. Also, this may be due to the availability of only one year of data for return model and two years of data for price model in the period before reform. This is may be because of economic conditions in country and world crisis. Value relevance of accounting information in the United Arab Emirates 43 Findings from this study are relevant to standard setters and regulators for future directions in developing accounting standards. The results may be helpful to investors for understanding capital markets such as these countries, and may also provide insights for accounting standard setters and regulators. The result of the study revealed accrual based information were more value relevant than cash based information. And also the coefficient of EPS was more than BVP. Therefore, another avenue for future research is to explore the reasons for accrual based information’ superiority over cash based information and earnings’ superiority over book value. 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Qystein, G., Kjell, K., & Frode Sættem. (2007). The Value-Relevance of Financial Reporting in Norway 1965-2004. Norwegian School of Economics and Business Administration , Norway. Riahi Belkaoui, A. (2000). Accounting theory (4th ed.). London: Thomson Learning. Scott, W. R. (2000). Financial accounting theory (2nd ed.). Ontario: Prentice-Hall Canada Inc. Thinggaarda, F., & Damkierb, J. (2008). Has financial statement information become less relevant? Longitudinal evidence from Denmark. Scandinavian Journal of Management, in press. Wagdy, M., Abdallah. (2001). Managing multinationals in the Middle East : accounting and tax issues: Quontm Books, 88 Post Road West, Westport, An imprint of Greenwood hblishing Group, Inc.Printed in the United States of America. Zaleha, A.-S., Muhd-Kamil, I., Jagjit, K., & Hamezah, M.-N. (2008). The Value Relevance of Intangibles Non-Current Assets in Different Economic Conditions. International Review of Business Research Papers, 4 (2), 316-337.ACC100 – Principles of AccountingCase Study Please refer to the International Journal of Economics and Financial Issues Vol. 1, No. 2, 2011, pp.33-45 ISSN: 2146-4138 www.econjournals.comArticle “Value Relevance of Accounting Information in the United Arab Emirates” AVAILABLE ON PORTALJamal Barzegari Khanagha Faculty of Economics, Management and Accounting, Yazd University, Iran E-mail: [email protected] Tel: +989131519858Reply to the below questions:1-What does the paper research about?2-What are the findings of the paper? 3-Explain why IFRS in UAE did not improve the value relevancy in accounting standards.4-Discuss about the regulations reforms in UAE. Research about the implications and outcomes of implementing IFRS in another country (a country of your own choice). Course Work Assessment: The Case Study is graded over 15 points. Please note the below guidelines for the Assignment:Due Date: Week#10 MONDAY 22 MARCH 2021For late submission: grades are deducted gradually from your Case Study grade.Group of 2. Plagiarism: 20% maximum accepted.All submission on Portal Thank you & Good Luck!
University of Sharjah Accounting Question

Table of Contents Abstract Introduction The Materials Life Cycle Materials and Energy Consuming Systems The Eco-Attributes of Materials Eco-selection Recycling Cars in UAE Conclusion References Abstract Human activities have great influence on environment. The environment can absorb the effects of human activities to a given extent. However, there is a threshold; if exceeded, it diminishes the quality of the environment. In the modern world, there have been increased human activities that have surpassed the environmental threshold. With the current growth rate of 3% per annum, mining, disposals, and other processes present increased human activities that the environment cannot absorb. For instance, the economic developments have resulted to increase in the number of cars used. The core concerns include material production and energy consumption system, the eco-attribute of the materials and eco selection. The materials have great implication on the on the environment. Therefore, it is important to analyze the various phases of material use and their environmental implications. To enhance the understanding of the materials and environment, Ashby (2011) provided in depth analysis of the materials and the energy consumption. The following paper explores the various phases of energy consumption with key focus on the eco-selection. Introduction All the activities of the human beings influence the environment. Ashby (2011) noted that the environment is designed in manner that it has a capacity that can cope with the effects of the human activities. Increased human activities have negative impacts on the environment. According to Ashby (2011), the human activities normally diminish the quality of the environment. In the contemporary society, the main aspects of the human activities that influence the environment include the processes of manufacturing and the use of the materials. The following report explores sustainability measures with core focus on the eco-selection and recycling of materials at end life. The recycling will discuss car recycling in United Arab Emirates (UAE). The Materials Life Cycle In the analysis of the human activities and the resultant effects, Ashby (2011) noted that the current growth rate of about 3% around the world would lead to increase in the human activities such as mining and the rate of waste disposal. As a result, there is need for design for the environment in order to correct the degradation of the environment. In addition, Ashby (2011) noted that there is need for design for sustainability. Get your 100% original paper on any topic done in as little as 3 hours Learn More This entails adaptation to lifestyle that is environmentally conscious. The design for environment and design for sustainability ensures that current human activities are in line with the needs of the future generations. The human activities are best represented the material life cycle which is based on four key processes that include: Material production Product use Product disposal Product manufacture The cycle represents how the materials are manufactured into products, used and disposed. The used materials end up in the recycling process, or they may be taken to landfill or incarcerated. The key feature of the various phases of the life cycle is that there is energy consumption. The result of energy consumption is the emissions of carbon dioxide. In addition, there are emissions of other gasses, heat, solid wastes, and liquid. The problems that result from the cycle are that the byproducts exceed the capacity that the environment can hold. The damage caused by the byproducts can be felt at various levels. For example in UAE, the economic growth has resulted to increase in demand for cars. The implication is that many cars are imported and at end life they are disposed as scrap with a lot of wastes going to landfills. Ashby (2011) noted that at the local level, the negative influences can be remedied by putting in place intervention strategies. At the national or global magnitude, the corrections of the effects require integrated interventions. Ashby (2011) pointed that there is the need for wider social interventions such as the enactment of legislations that require reduction of consumption of the carbon fuels in cars. Materials and Energy Consuming Systems According to Lewis and Gertsakis (2001), there exists an interactive system between materials and energy. Ashby (2011) noted that the main driving forces of the consumption in the systems include the uptake of new technology, the increase in wealth, the growth of population and education. The driving forces influence the use of products that in turn result in the consumption of materials and energy. For instance, the establishment of matching materials as per system requirements results in a fit that is essential for eco-design (Ashby, 2011). The use pattern of products exemplifies the consumption levels. The levels are categorized on the basis of load factor such as the high load factor, modest and low load factor. The various levels of consumption include the primary consumption of power, secondary consumption, and non power consumption. Based on the level of consumption and the load factor, the consumption can either be energy intense of material intense. In the case of vehicles, load factor is experienced in the production of steel for making the cars from the ores and in the use stage where fossil fuels are used to power the vehicles. We will write a custom Report on Materials and the Environment specifically for you! Get your first paper with 15% OFF Learn More The Eco-Attributes of Materials The eco-attributes of materials is an important concept in the production of materials. According to Lewis and Gertsakis (2001), understanding of materials, production processes and the consumption of energy by the various materials plays a very critical process in the design for sustainability. Ashby (2011) noted that the energy used in the material production, manufacturing, and the other related activities in the four phases is normally from the fossil fuels. The use of the energy takes place in different forms. The key forms include gas, oil, or coal. According to Ashby (2011), the energy can also be transformed into electricity with a conversion efficiency of 38% as per European average conversion. The electricity can be generated from different sources. For instance, it can be from wind, nuclear and hydroelectric sources. Thus, the fossil fuels are not the sole sources of electricity generation. In Europe, the production of energy is mainly from the fossil fuels. The exceptional countries that have alternative energy sources include Norway that relies on 70% hydro and France that relies on over 80% nuclear energy. Eco-selection Eco-selection entails incorporation of responsible designs that ensure affordable and safe manufacturing practices. The eco-selection is aimed at using materials with prior knowledge of their implications on the environment. Lewis and Gertsakis (2001) noted that the embodied energy, the resulting green house effect, and the recyclable nature of the materials should be analyzed in the initial phase of material. According to Lewis and Gertsakis (2001), the environmental impacts of products can be influenced during the design of the product. Designers and manufacturers are thus encouraged to adopt sustainable practices that take into consideration the environmental impacts. For instance, the recycling of materials in order to reduce the amount of waste that is taken to the landfills. Eco selection is a philosophy that is based on designing physical objects and the environment to ensure that human activities comply with the sustainability principles. In the eco-selection, materials used for the manufacturing are carefully chosen to ensure that they minimize the environmental impact. Thus, the eco-selection should put into consideration the type of the material, their use, and the phase of the life cycle in which the product makes the largest contribution. The selection should be based on the energy consumption and the impact of the material wastes to the environment. For instance, the energy consumption could relate to the carbon foot print and other effects of the emissions. According to Ashby (2011), rational design of the environment informs eco-selection. The process is based on the analysis phase that is core to identification of materials. The analysis guides the selection. Not sure if you can write a paper on Materials and the Environment by yourself? We can help you for only $16.05 $11/page Learn More According to Ashby (2011), eco-selection entails the assessment of energy or the carbon foot print over the life for the product. This forms the first stage that is normally referred to as the eco-audit. It entails the analysis of energy in terms of the materials, the process of manufacturing, transport, use, and the disposal processes. The second stage that informs the eco-selection includes the design, which puts in place the strategies to enhance sustainability by minimizing the energy and material consumption. Figure 1 below is a summary of the factors that inform eco-selection. Figure 1: Factors that inform eco-selection Source: Ashby (2011). The eco selection is based on understanding the phase of the product lifecycle that makes the highest contribution to the environmental degradation. In the material life cycle, the first phase is the material production. Ashby (2011) pointed that if the production of materials is the dominant phase in terms of energy consumption, then it is given the priority in the eco-selection. An example is the production of drink containers. The key areas of energy consumption are during the extraction and production, in the transportation and refrigeration. In the various processes, the energy used results to emissions of gasses. The embodied energy that is used depends on the material, thus on a one kilogram quantification basis, some drink containers have high penalty than others. The other notable phase is the product manufacture phase, which requires energy. In the production process, saving of energy is paramount; however, priority is attached to the impact of the toxic wastes and emissions during the process of manufacturing. The priority is influenced by the circumstances at the local level. For instance in making paper, a lot of water is used. In the past, the water used to be dumped into the river systems. The disposed water used to be heavily polluted with alkalis and particulates; however, today environmentally sensitive paper mills discharge water that is clean and pure. Thus, the selection of manufacturing practices is critical in the prevention of the environmental devastation. Another point of concern is the use phase. Ashby (2011) noted that the eco-impact of the use of energy consumption is influenced by various factors such as the electrical, thermal, and mechanical deficiencies. Thus, the maximization of the use of the factors minimizes the energy use. An example is the fuel efficiency of the transport systems. The mass of vehicle correlates to the efficiency. Therefore, to reduce the energy consumption, the deal is to minimize the mass of the vehicles. The fourth phase in which energy is consumed is during the product disposal phase. There are environmental consequences that relate to the final phase of a product life. According to Ashby (2011), there are many choices for the disposal phase, which have an impact on the environment. Legislations by different authorities govern the choices on product disposal phase such as recycling, taking back, or landfills. There is a common notion that the conservation of the materials and the subsequent consumption of energy can be achieved by making smaller products that last longer and to recycle them when they reach their end life. Even though the concept seems obvious, it fails to put into consideration the complex and the interactive system that exist between materials and energy. Therefore, eco-selection and sustainability explores the process of acquiring materials and the energy consumption associated with the materials. Ashby (2011) stated that the solution to the environmental problems is not based on the selection between the good and the bad materials, but it entails the in-depth analysis of the materials and selection of the materials to match the requirements of the system and ensure efficiency in the consumption of the energy. The eco-selection should thus take into consideration, the type of the material and the embodied energy that relate to the materials. For example, drink containers present an example in which the energy consumption is very high at first and the second phase. A lot of energy is consumed and there are a lot of emissions. Therefore, the selection of materials to reduce the energy use and the gas emissions is critical. The various materials that are commonly used for the drink containers include PET, high-density PE, soda glass, plain carbon steel and aluminum alloy. All the materials are recyclable. The production of the materials entails molding in which energy use differs depending on the material. The containers also have different designs. Therefore, the energy needed to shape the containers is less than the energy that is required to produce the material. The overall energy used in the two phases shows that the steel tins have the lowest energy penalty while the highest energy penalty is in glass and aluminum. Another case example that relates to energy selection and eco-consumption is in the manufacture and the design of crash barriers. The barriers can either be static or mobile (Ashby, 2011). The bumper of the vehicle is an example of a mobile barrier. An example of static barrier is the central divider of a freeway. According to Ashby (2011), the static barriers do not consume energy once installed; consequently, they do not emit CO2, and they are long lasting. Therefore, the energy consumption is normally in the material production and in the manufacture. The bumper on the other hand increases the weight of the vehicle and hence influences the fuel consumption. The implication is that the dominant phase of energy consumption is in the use. Vehicles present a great concern to the environment. A lot of energy is used in the manufacture of the materials for making cars such as the metals. In addition, as noted by Ashby (2011), the crash barriers also increase the energy consumption as there is need of fossil fuels to power the movement of the cars. At the end life, the cars also present a challenge as some materials are taken to already full landfills. The phases present great environmental impact throughout the lifecycle of a car. There is thus the need for measures to incorporate sustainability in the manufacture, use and disposal of the cars. Key to the sustainability is recycling of cars. Recycling Cars in UAE Throughout the life cycle, cars have a significant impact on the environment. The main areas of concern include the energy consumption, the wastes generated during the manufacturing, the use phase and the disposal at the end life. It is worth noting that over 75% of the materials found in the end life of cars are recyclable. The materials a are mainly metals. The remaining 25% of the materials are normally considered wastes and ends up in the landfills (Zoboli, 2000). However, the recycling of the materials can reduce the wastes to the landfills. In today’s economy, the price of steel has increased; hence, increasing the demand of the recycled steel which makes the recycling have benefits in UAE, both economically and environmentally. In UAE, there are many old vehicles that have reached end life and are being scrapped every day. The scraps are left to accumulate dust and have become an environmental problem. Through the recycling process, the materials that are disposed in the landfills are significantly reduced. Ryan (2010) noted that recycling one ton of steel conserves natural resources and saves energy. For instance, it saves 54 kilograms of limestone, 635 kilograms of coal and over 1100 kilograms of iron ore. The carbon footprint that results from recycling is less compared to the carbon and other gasses emitted in the process. Therefore, recycling promises a cleaner environment and viable business that is sustainable. The materials used for making cars consume a lot of energy both at the first phase of production and in the phase of use. The common materials for manufacturing cars include steel sheet, plain steel, plastics, zinc, rubber, aluminum and others such as the adhesives, textiles, and glass. The percentages of the materials used differ. However, steel sheet accounts for the majority of the material used for cars. The environmental benefit associated with recycling cars in UAE is that the energy used in the production of the recycled steel is less compared to the energy for producing steel at first time. The recycling of cars in UAE entails the extraction and re-processing of the cables, the metals, and the mechanical parts. According to Zoboli (2000), the energy that is used for recycling steel is 70% less compared to energy for getting the steel from the ore. The process of recycling cars is driven by economic, technological, social and environmental factors. Therefore, recycling of the cars in UAE aligns with the global strife for sustainable waste management. The increasing economic developments in UAE have resulted in increases in the number of cars being used. As a result, it has become increasingly important to device means that ensure that the end life of the vehicles life minimizes the environmental impact. The wastes being directed to the landfills have increased. Bearing in mind that the cars can be recycled, a regulatory approach to environmental impact is to adopt environmentally friendly processes that will reduce the wastes to the landfills. Conclusion Design for sustainability is a key principle geared at ensuring that various human activities put into consideration the needs of the future generations by use of products that are friendlier to the environment. The initial stages of the product design determine the impact of the final product on the environment. The key to the environmental sustainability practices entail the eco-selection that takes into consideration the various phases of the product life cycle and the implication on the environment. The main concepts of the eco-selection are based on understanding the materials and the energy consumption related to the materials. For example, the consideration on what to use and where to get it from. The second consideration is the design in which the concern is how to make it. The processes should also put into mind the end life of the product in which the designers should be concerned on how the materials can be reused. It is thus economically and environmentally viable to recycle and reuse the materials. The environmental sustainability of manufacturing cars can be reduced through the use of recyclable materials. Therefore, the rationality starts with the identification of the various phases that are of great concern in the material life cycle. References Ashby, M. (2011). Materials Selection in Mechanical Design. Oxford: Butterworth- Heinemann. Lewis, H.,

CCSU C# First Level Programming Concepts Knowledge Evaluation Reflection

CCSU C# First Level Programming Concepts Knowledge Evaluation Reflection.

2 page doubled spaceOne way of evaluating one’s knowledge is to be able to explain that to someone. Let’s assume you have a favorite relative who is not very computer savvy or well versed with programming and who is very interested in what you are doing in this course. In this reflection, you need to write a letter to your relative explaining 3 key concepts that you have learned in this course. You will need to write it in plain English. Do NOT copy from your book or include code samples in your letter.Your letter should be about one to two pages long. If need be, you can include pictures to illustrate your points. Some of the key concepts we have covered are:Application DevelopmentTypes of variables and variable scope and lifetimeImportance of sequencing in a programHandling inputs (data types and valid data)Use of selection statements to make choices
CCSU C# First Level Programming Concepts Knowledge Evaluation Reflection

UW Whitewater Fire in the Ashes Book Ch 8 Outline Summary & Analysis Paper

java assignment help UW Whitewater Fire in the Ashes Book Ch 8 Outline Summary & Analysis Paper.

Prompte: Read the assigned chapter and create an outline summarizing and analyzing the story. Use the major lens of race/class and gender, especially look for institutional constraints (education, housing policy, welfare bureaucracy, criminal (in)justice, religion, health, employment, environmental racism), as well as other key sociological concepts. Social psychological observations are OK, as long as also an attempt to connect to macro-level analysis.Answer the questions separately from the outline summary and analysis. These questions will also serve to prepare for the papers on Fire in the Ashes:1) What do the individual and family stories of struggle indicate about life chances in the inner city, especially the South Bronx, NY, in terms of racial, ethnic, class, gender inequality?2-) What are some environmentally toxic impacts on poor communities of color and how does the NIMBY effect operate to centralize polluting industries?3) How do personal and community stories help to illustrate the power of structural constraints, such as poverty, as well as illuminate the resilience and adaptation skills of the “survivors” who transcended the social conditions in Mott Haven?4) Indicate some potential solutions for alleviating and perhaps solving ongoing political/economic/social/environmental struggles—that would bring hope for living together in multicultural communities.5) Think about how at least two specific individuals’ stories were shaped by major social institutions: economics, political policy, criminal justice issues and practices, education or lack thereof, media representations, availability or lack of health care, etc. Remember that structures create both constraints, and potential opportunities for choices and life chances.Here is the link for the chapter to read (chapter 8) from the book Fire in the Ashes by Jonathan Kozol. https://we.tl/t-LADhFbia6v
UW Whitewater Fire in the Ashes Book Ch 8 Outline Summary & Analysis Paper

PSY 8730 Purdue University Psychology Consultation Plan Research Paper

PSY 8730 Purdue University Psychology Consultation Plan Research Paper.

INTRODUCTION
A consulting plan or report never is finished after the first draft. Iteration happens as the project continues and as the consultant collects more information from the client.
To finish your consulting plan, apply what you have learned through your assignment feedback, peer feedback, discussions, and research to revise and improve your consulting plan from Unit 5.
ASSIGNMENT INSTRUCTIONS
Your final paper covers theoretical underpinnings of your consulting approach and evaluates your consulting project. Use the following subheadings from Part 1 of the paper:

Subheading 1 – Case study.
Subheading 2 – Discovery Approaches.
Subheading 3 – Guidelines for Discovery.
Subheading 4 – Consulting Competencies.

Then expand to add the following components for your final submission:

Subheading 5 – Implementation Phase/Description of Consulting Theories and Basis in Evidence: In this section, you must identify and describe two existing psychological theories that could inform the way you do the implementation phase of your consultation. You will demonstrate this evidence base through citations of peer-reviewed references for each theory selected.

Select these two theories from the following options:

Systems theory.
Positive psychology.
Adlerian theory.
Gestalt theory.
Cognitive-behavioral theory.

Explain the psychological underpinnings of each theory as it informs your application of psychological consultation. You will accomplish this by identifying key psychological elements of your theories, describing the roots of the theory in the larger field of psychology, and noting its connections to other theories.
Compare and contrast the theories based on their usefulness and basis in evidence. Be sure to cite peer-reviewed journal articles on each theory. Provide enough details that give an in-depth analysis of each model. For example, include your critique of the strengths and limitations of each theory for this particular consultation project. You may choose to incorporate some of the resources and ideas from your Unit 7 discussion posts that focus on analyzing theories.

Subheading 6 – Synthesis of Consulting Theories: Based on your evaluation of theories, create a synthesis that integrates the effective key concepts and best aspects of the methods related to each theory. Discuss the ways each theory might inform your approach to the steps you take in the consultation.
Subheading 7 – Evaluation of the Consulting Project: You may choose to include some of the resources and ideas from your Unit 6 discussion post that are relevant to evaluation approaches in consultation. Describe the process you would use to evaluate your work as a consultant for this case. This should include:

An in-depth discussion of the evaluation processes you could use for this consultation.
A comparison and contrast of two possible approaches to evaluating the project and the strengths and weaknesses of each approach to evaluation

Subheading 8 – Conclusion/Synthesis:Conclude with a succinct synthesis, taking the best from each approach to evaluation.

PSY 8730 Purdue University Psychology Consultation Plan Research Paper

Sampling and Generalizability

Sampling and Generalizability. I’m trying to study for my Psychology course and I need some help to understand this question.

Sampling and Generalizability
For this discussion, refer to the article you found in the Capella library. The article should be a research report on a quantitative research study in a topic area of interest to you. Use the Article Analysis Worksheet to prepare for this discussion. Briefly summarize the article (1–2 paragraphs). Identify the following aspects of the study:

Target population.
Sampling procedure.
Sample characteristics.

Note: Be sure to describe and identify the size of the population from which the sample will be drawn. If you are addressing representativeness and generalizability, make sure the sample is equitable in proportion to the population. For instance, if you are sampling fifth and sixth graders for level or moral development, how many boys and how many girls are there in both grades? And, then, how many are there in the sample (boys and girls)? In this case, the population is all students in grades 5 and 6. If you are sampling boys and girls in the fifth and sixth grades with ADD, describe how many in each grade, how many with ADD, and how many in your sample. In this case, the population from which the sample is drawn is not the total in both grades but the total with ADD.
Sampling and Generalizability