What You Need to Know About Ielts Writing Task 2 Opinion Essay Samples and Why

What You Need to Know About Ielts Writing Task 2 Opinion Essay Samples and Why The Supreme Approach for Ielts Writing Task 2 Opinion Essay Samples For instance, you could be requested to present your opinion on an issue, then talk about the advantages or disadvantages of it. You must compose an answer to the question giving reasons and examples to back up your answer. State your opinion in the issue. Explore the benefits of both methods and provide your own opinion. To summarize, both beneficial and detrimental results on local people and the environment can be viewed as a consequence of the increase in trips to distant regions. There are an enormous number of internet resources, often with conflicting and bad high quality info, so locating a dependable supply of information is crucial. To begin with, growing prosperity in many elements of earth has increased the amount of families with money to put money into their kids' future. On the flip side, it's apparent that the disadvantages of nuclear technology are significant both concerning weaponry and as a power supply. Up in Arms About Ielts Writing Task 2 Opinion Essay Samples? Task 2 is the exact same. General Task 1 questions are composed of 3 distinct pieces. It is possible to also partially agree and partially disagree on such a statement. Task 1 You intend to provide a presentation in your large firm. The Good, the Bad and Ielts Writing Task 2 Opinion Essay Samples It's hard for a ny persons to accept a partner who doesn't have money or no less than a job to manage their upcoming family. Certainly, money is a significant role in our lives. Nowadays, it is one of the most significant elements in our lives. Nowadays, it is one of the most significant materials in our lives. You might have to be involved whatsoever levels. Inside my portion of the world, you won't make progress in a career or business without English because corporate communications and commerce is chiefly conducted inside this language. At the close of the book, there are several practice tasks for you to use. Technically speaking, there are in reality 4 important ingredients to the program. You ought to understand the 4 marking criteria utilized by the examiner to fulfil the prerequisites of the score you desire. Just take a look at the model essays page and you may browse through some examples of these sorts of essays and the way they may be answered by clicking on the links on the right of the webpage. Our sample essay has an easy but great introduction in which it demonstrates that the examinee has knowledge of this issue and clearly states the writer's position to establish the remainder of the essay. These high score model essays can help you know how to answer the essay q uestions and the way to structure your writing. You will be shown a particular topic and asked to compose a word essay about it. Obviously, you may use conditional sentences elsewhere in your essay also. Thus don't get intimidated if you believe you cannot write such essays. A well-structured essay has a great introduction, body paragraphs that are simple to follow and connect with each other, and a great conclusion. So you need to compose an essay for whichever one that you select, but the other part is different based on which module you're taking. You should generate ideas during the test and produce examples from your own wisdom and experience. Knowing the common topics will be able to help you get ready for the test better. Practice alone isn't likely to assist you.

The cause and effect of the first crusade - 2351 Words

An Examination of the Causes and Success of The First CrusadeReligion has served mankind for thousands of years in our search for meaning and direction. Religion serves as a way of defining our lives and providing a sense of meaning or direction, having done so since the beginning of time. While religion may appear to be a peaceful endeavor, it is an endless source of violence and bloodshed. The duality of religion is accurately portrayed in the Christian crusades. The crusades of the late antiquity exemplified this duality of religion and the horror religion can bring. Thousands upon thousands fought and died, not for king or country, but under God. The kingdoms of Christendom united under the common goal of retaking the holy land and†¦show more content†¦This quote outlines a concern not only with the violence afflicting Christian nations but the increase in population as well as the lack of land. Europe was described almost as a confinement surrounded by mountain peaks to which the solution to their problem cannot be found. Since the only land available was in possession of other Christian nations, it was impossible to maintain peace. Thus the solution, since land and wealth would ultimately lead to European conflict; a war against an alien enemy seemed a logical conclusion. Through the excuse of foreign aid, Christendom could extend both its wealth and land without civil war at the expense of Muslims . This the Redeemer of the human race has made illustrious by His advent, has beautified by residence, has consecrated by suffering, has redeemed by death, has glorified by burial. This royal city, therefore, situated at the center of the world, is now held captive by His enemies, and is in subjection to those who do not know God†¦She seeks therefore and desires to be liberated, and does not cease to implore you to come to her aid†¦ God has conferred upon you above all nations great glory in arms. Accordingly undertake this journey for the remission of your sins, with the assurance of the imperishable glory of the kingdom of heaven. This excerpt from Clermont shows the attempt by Urban to enact a sense of religious obligation amongst his council. Jerusalem, theShow MoreRelatedCauses And Effects Of The First Crusade2001 Words   |  9 Pagesnotable, historical crusade has done this and has succeeded, but at a price. There hasn’t been a movement more momentous than the First Crusade. The First Crusade was a pilgrimage turned military expedition to Jerusalem that was sponsored by Pope Urban II at the Council of Clement in November 1095 in the aspiration to set out from the west to the recover the holy city from the hands of the Muslims. The aim of this paper is to examine the causes and effects of the First Crusade. The focus willRead More History Essay1735 Words   |  7 Pagescreated manors. The serfs had originally paid allegiance to the lords as they protected them and gathered land and wealth. One short-term effect of manorialism was that it gave the peasants who worked the field better working conditions than the slaves had received in earlier Roman estates. The serfs had more control over their lives. Some of the long-term effects of manorialism were an increase in the quality of all living conditions, chivalry, and better treatment of women. As farming conditionsRead MoreThe Crusades And Its Effects On History1307 Words   |  6 Pagesmedieval battles are known to history as the Crusades. These crusades were each led by different people. The eight Crusades occurred from 1095-1270. The first Crusade being in 1095-1101, the second from 1145-1147, the third from 1188-1192, the fourth in 1204, the fifth in 1217, sixth from 1228-1229, the seventh from 1249-1252, and eighth in 1270. There may have been a 9th crusade, which may have occurred before the 3rd Crusade. The cause of these crusades is to attack the enemies of the church andRead MoreA Brief Examination of the Crusades706 Words   |  3 PagesA Brief Examination of the Crusades A Brief Examination of the Crusades The First Crusade took place from 1096 1099. The First Crusade was a great surprise to both the Christians and the Muslims, the two opposing parties of the Crusades. The victory of the First Crusade went to the Christians. The Crusades were a series of nine wars waged during the Middle Ages between Christians and Muslims. The wars were waged between the 11th and 13th centuries specifically. In 1071, the Muslim Turkish armiesRead MoreEffects Of The Crusades On Western Civilizations915 Words   |  4 PagesConsequences of the Crusades The crusades were a series of religious wars that though they took place centuries ago, they are still often discussed today. The crusades were a religious war between the Christian and Muslim states that lasted years. â€Å"The Byzantine Empire, which had thrived spread over the coastal areas of the Mediterranean†¦now found itself increasingly challenged by the navies and pirates of Isla. The contest between these two sides were to generate seeds of the first Crusade† (Paine 8-9)Read More The Crusades Essay1479 Words   |  6 PagesThe Crusades The Crusades were Christian military expeditions undertaken between the 11th and the 14th century to recapture the Holy Land from the Muslims. â€Å"The word crusade, which is derived from the Latin crux (cross), is a reference to the biblical restriction that Christians carry their cross.†1 Crusaders wore a red cloth, cross sewn on their tunics to indicate that they had assumed the cross and were soldiers of Christ. What were the real causes of the crusades and how did all of it finallyRead MoreKnights Templar : Facts And Causes Of The Crusades1078 Words   |  5 Pages1. Q: When, where, why and how did the crusades begin? A: The Crusades were a series of violent and deadly wars.The Crusades occurred between 1096 and 1291, in parts of Europe to the eastern coast of the Mediterranean. The Crusades were a series of eight military and religious wars that were fought mainly over the control for the Holy Land. The Crusades were fought between the Christians and Muslims. The Crusades was one of the causes of the famous organization known as the Knight’s Templar beingRead MoreEssay on Crusading Movement1530 Words   |  7 Pages The Crusades were military expeditions undertaken by Christian Europe between the 11th and the 17th century to recapture the Holy Land from the Muslims. The main crusading movement took place between the 11th and 13th century. The word crusade, which is derived from the Latin Crux was adopted by crusaders who adorned themselves with the symbol of Christianity: the cross.1 Crusaders wore a red cross sewn on their tunics to indicate their status as soldiers of Christ. The causes of the CrusadesRead MoreThe Crusades : Campaigns That Changed The World1738 Words   |  7 PagesJared Spoonhour Mrs. Fegan Human Rights Literature 18 November 2015 The Crusades: Campaigns that Changed the World The Middle East has been afflicted by major religious wars and strife for thousands of years. For nearly a millennium, pilgrims from Europe had been persecuted by the Muslim rulers while on their way to the holy Christian city of Jerusalem in order to make atonement for their sins. The tense struggle for ownership of the city of Jerusalem between Muslims and Christians nearly a thousandRead MoreEssay on Crusades1261 Words   |  6 PagesIn 109 The First Crusade was launched by Christians with the support of the Roman Catholic Church in hopes of recapturing Jerusalem from the Muslims. The Crusades arose out of feudal society in the eleventh century, offering crusaders freedom adventure and a possible economic gain. Pope Urban II gave a speech to the church leaders and nobles in France, telling them to rescue their fellow Christians from the Muslims. He promised them everlasting life in heaven if they went. The Crusades weren’t started

Exercise Is A Important Aspect For Everyone - 1583 Words

I think exercise is a very important aspect for everybody, and should be a scheduled daily activity that every one of all ages and sizes should take part in. When I was in grade school, and high school I never learned about what is good to eat and if I did it was the wrong thing. I was never told how long I needed to exercise a day for, or what I needed to do to be a healthy person. I’m hoping that by me explaining my philosophy and thoughts on physical education and exercise, it will get others to want to live a healthier life style. I truly believe in that eating healthy and exercising regularly makes you a happier person. I try my best to work out every single day, and eat the best I can. Right now, I don t eat dairy and I’m trying to limit my meat intake, but most importantly I m trying to drink more water, and eating more fruits and vegetables. I believe that I could be an active role model for children or even adults that need that extra set of confidence or the b oost to get them going in their lives. To be able to eat healthy and know how to exercise you need to be an educated person. This is why I think physical education is key to living a healthy life. Physical education teaches you the skills you need to know when wanting to become an active person, not only that but physical education, educated individuals about the importance or exercise as well as the disadvantages. It makes people want to get up and move so they can feel better and be the best they canShow MoreRelatedAgeing - Physical and Psychological Changes. Pathological Ageing1665 Words   |  7 Pagescan one minimise pathological ageing? The process of aging has been around as long as life itself. All living organisms pass through three broad stages from conception to death, which are maturation, maturity and aging. Aging affects everyone because nearly everyone has the potential to grow old and all the societies in which we live have older members (Macdonald, 1997). Gerontology is the use of reason to understand aging. The term was used to refer to the scientific study of aging, but nowadaysRead MoreIn Living Organisms, There Is A Common Process That Occurs,1748 Words   |  7 Pagessalient in one’s everyday life (Lang et al, 2002). The model suggests that it is important to focus on aspects that would be most beneficial to a person, which will vary between individuals. For myself, I would choose to focus on a healthy and active lifestyle that includes exercise and proper nutrition. In addition to physical activity and proper nutrition, I thoroughly believe that social interaction is also important in pos itive aging, as more interactions with others can decrease the chance ofRead MoreThe Importance Of Physical Activity For Special Needs1374 Words   |  6 PagesTycen Biggs Mrs. Johnson Research Paper The Importance of Physical Activity for Special Needs Everyone needs physical activity to stay healthy. For special needs, it is even more important exercise and to get around. Exercise affects them by enabling them to learn new things that could help them physically, mentally, and emotionally. Strengthening those attributes could improve their skills and help them learn in different ways. Physical activity is very crucial for special needs to help improveRead MorePhysical Preparation Of The Body1150 Words   |  5 Pagesdifficulty at moderate levels. †¢ 25 abdominal crunches †¢ 60 Russian twists 30 per side †¢ 1 minute plank †¢ 25 crunches †¢ 1 minute plank †¢ Finish the Exercise by stretching the hips, groin, hamstrings, and quadriceps. Proper preparation of the body is essential when doing any type of exercise. Proper preparation should include gentle stretching and warm up exercises to get the heart pumping. Stretching the main muscle groups that will be worked makes them more pliable and less likely to be injured duringRead MoreFree Research Essay On Obesity903 Words   |  4 Pagescategory. In America, approximately one out of every three adults are obese. More than 300,000 adults are dying each year from obesity. All over the U.S. the number of obese people is increasing because of portion sizes, fast food, and not enough exercise. Not only are Americans eating unhealthy food, they are also eating large portion sizes. The required portion size is to eat the same amount of food as the size of your hand in a fist. Scientists say this because people’s stomach and hand are aboutRead MoreTraining Is An Accurate Program For All Different People864 Words   |  4 Pagesdifferent people, whether they are fit or unfit. All these programs show different qualities on what should be expected, but the specific principles of exercise are progression, regularity, overload, variety, recovery, balance, and specificity. (PowerPoint) According to the Physical Activity Guidelines you are to do 150 minutes of moderate exercise and 75 minutes of vigorous activity a week and 2 or more days of strength training that works the 7 major muscle groups. Most people have different reasonsRead MoreFreedom Of Exercise And Freedom975 Words   |  4 PagesFreedom of Exercise One of the key principles the United States of America was founded upon was the idea that religious freedom was an inalienable right. Many who sailed to new world were pilgrims who believed the land was a promised land, sacred. They also believed the new world would allow them to escape religious persecution. When the Constitution was developed in 1787, the First Amendment addressed the relationship between the government and religion stating, â€Å"Congress shall make no law respectingRead MoreLeadership : Concepts And Practice1327 Words   |  6 Pagesunique in their own way (Northouse, 2015, p.1). There are so many different aspects to leadership that is it nearly impossible to have one definition that covers every area. Each and every person that is a considered a leader has his or her own way of leading because every situation, whether it be work, a team, at home, etc., calls for different and distinctive ways of leading people. Northouse states that there are six main aspect s of leadership; it’s a trait, ability, skill, behavior, relationship, andRead MoreCauses Of The Black Death785 Words   |  4 Pagesinformation that was gathered (exercise 3.16) showed that the Black death contributed to the rise of Renaissance. During the Black Death, not all their details were understood; the doctors didn’t understand the cause of the plague or how to treat the disease. They overlooked important things like cleanliness, hygiene and treatments. Many patients who were suffering this disease, they thought that they were being punished for all their sins. As this influenced everyone and it was an extreme responseRead MoreThe Role Of Peer Pressure On College Students1235 Words   |  5 PagesSubstance Use and Exercise in a College Student Social Network,† test out this common theory of peer pressure being the reason for the damaging actions of college students, such as alcohol and substance use. In addition to testing out this theory of peer pressure on unhealthy behaviors, the authors of this article also were interested in if peer pressure on college students has an effect implementing healthy behaviors, such as exercising. Past studies have shown that exercise and substance use have

The Incarceration Of The United States - 1044 Words

Overview The United States has the highest prison population in the world, with over two million incarcerated (World Prison Brief, 2016), of whom many are juveniles. It is well documented that youths who enter this system are more likely to suffer a host of negative health and lifestyle outcomes, such as alcohol/drug abuse, high school dropout, and mental health problems. Such phenomena occur in stark contrast with the aims of the US juvenile justice system, which supposedly intends to help offending youths re-assimilate back into society as productive citizens. As previously mentioned, incarceration often leads to poor mental health, which when combined with the conditions of confinement significantly raises the rates of suicide and†¦show more content†¦Adolescents sentenced within the US juvenile justice system have especially high rates of recidivism (when compared with their adult counterparts), with male juveniles incarcerated at a rate five times higher than females (Sickmund e t al., 2015). African-Americans are an especially vulnerable demographic within this group. In numbers similar to the adult incarcerated population, youths of color are found in disproportionate numbers in every step of the US juvenile justice system, with African-American youths confined at nearly five times the rate of their white peers (The Annie E. Casey Foundation, 2013). Additionally, number of prior offences is an important factor, as first-time offenders are much less likely to re-offend than those with previous offences (Harrison et al., 2001). Gang-related activity and offenses were avoided for the purpose of this study, as gang-affiliation has an effect on the juveniles’ responses to the â€Å"positive peer pressure† of Teen Court programs. It is important to note, however, that for juveniles, previous incarceration acts as an even greater risk factor for future incarceration than gang membership (Holman Ziedenberg, 2006). It is important to note that only participants who completed the program were included in the analysis. Research shows that of those who participate in Teen Court programs, those who complete their sentence are significantly

Nationalism Is Not Always A Bad Thing - 949 Words

â€Å"Nationalism Is Not Necessarily a Bad Thing†, this is an article recently written by Michael Barone who claims that Nationalism is not always so bad. The author believes that if Nationalism is understood properly, it can be used as a driving force to unite disparate people into a society with a responsible government to guard them against foreign attacks. He thinks that Nationalist, being the citizens, feel stronger bond with their country. Thus, they consider serving their country as their responsibility and expect the government to protect its people. Micheal Barone argues that each nation has established its own particular culture, its own traditions, and its own written and unspoken rules; thus, a mindful nationalist must respect the norms and values of other nations. However, I believe the evidences he used are not relevant enough to support his claims; therefore, I oppose his standing that Nationalism is not a necessarily a bad thing. Michael Barone used sports nationalism to support his argument. He argues that sports nationalism easily embraces ethnic and racial diversity. People from nations with sharply divisive politics and suffering from economic setbacks and pervasive corruption (like the Olympics host, Brazil) nonetheless find themselves united in rooting for their country s athletes (Barone). Moreover, he stated that millions of people watching the Rio Olympics around the world are an indication of Nationalism being not so bad. He mentioned the examples ofShow MoreRelatedThe Importance Of Nationalism1434 Words   |  6 Pages Nationalism is a political ideology that has been around since the 19th century, the idea of nationalism stands for the nation-state and the love for the nation-state. It is able to bind different members of society within a certain geographical location to form a stronger bond and give the nation a sense of belonging and identity. Nationalism has been one of the most influential and powerful forces of the twentieth century because nationalism helps bring people together that share a similar languageRead MoreHorror, Effects, And Nationalism1076 Words   |  5 PagesHorror, Effects, and Nationalism Today s horror came from the effects of nationalism that affects our country. Three themes in All Quiet on the Western Front are horror of war, effects on war on the soldier, and nationalism. World War I all started because of the assassination of Franz Ferdinand the archduke of Austria-Hungary. A group of alliances between major powers was blamed and went to war. All Quiet on the Western Front was about this teenager named Paul Baumer and several of his friendsRead MoreAnalysis Of The Poem I Buffalo Bill s Essay1494 Words   |  6 Pagesladies who live in furnished souls† he lampoons politicians and a certain class of women. In â€Å"[Buffalo Bill’s]† he declares a cultural icon to be â€Å"defunct† and within the other two poems he calls out many other American institutions including rabid nationalism, the protestant church, and Henry Wadsworth Longfellow. On top of everything that e e cummings sees as wrong with America, he also characterizes the a verage American as extremely gullible and easily fooled by exalted members of society as seen inRead MoreThe Far Reaching Effects of Imperialism1323 Words   |  5 Pagesnineteenth century also came with the rise of nationalism, or the belief that a country’s way of life was superior to others. Nationalistic ideologies, born in the coal ovens of Industry, soon gave way to systems of imperialism that would quickly take hold in other parts of the world. For the purposes of this essay, can be broadly defined as a symbiotic relationship between an industrialized state and an agrarian state in which the industrialized state almost always benefits in some way, while the agrarianRead MoreWhy Is Hong Kong Resisting Chinese Oppression1545 Words   |  7 Pages animal poaching is not totally terminated even though it is an illegal hunting or capturing animals. Although laws are made for prohibiting animal poaching, a lot of countries didn’t see them as a thing. Not only the ta rget animals get affect by animal poaching, but also the surrounding living things, the whole chain will get affected. This also causes environmental damages. I think the presentation of desertification and water shortage from Joanna and Melissa is the most completely and simplyRead MoreSince its birth Pakistan has been attached Capitalism in almost all aspects. From the education1700 Words   |  7 Pagesin almost all aspects. From the education point of view it has adopted the capitalist education policy. Pakistan has adopted this from the British Colonial regime. It has adopted the concept of modernity in various institutions like cosmopolitan nationalism, free market, and democratic state etc. This all is the influence of the British which has caused it to be a capitalist state and it has ignored its own traditions, values and customs, which were supposed to be its basis. From the education pointRead MoreIndian Nationalism Concealed as Yearning Reminiscence: Rohinton Mistrys Narrative 830 Words   |  3 Pagesadulthood coincide in peaceful moment that manifest Mistry’s glorification of his birth place India. Therefore, Mistry offers narrative structure that leads the reader to an agenda regarding Indian Nationalism. This is not to indicate that the speaker has some malevolent agenda to force Indian nationalism upon the reader. Rather, he shares experiences of his journey to divulge the subdued whisper of the essay in a manner that even he is not fully aware of. He produces regular imagery such that readerRead MoreSport s Impact On Moral And Ethical Values Of The Modern World1249 Words   |  5 Pageson moral and ethical values of populations, radically changes the way of life. Proving this thesis I want to include the words of famous Russian sportsman Alexander Volkov: â€Å"†¦sport today is the main social factor that can reflect t he invasion of bad habits and cheap cultural efficiency. Sport is the best ‘rattle’ which can divert people from social problems. It’s some kind of ‘glue’ that has enough power to unite the whole nation together, but it’s impossible for neither religion, nor politicsRead MoreNationalism Is An Understanding Of An Individual2207 Words   |  9 Pages Nationalism is an understanding of an individual or a group who share the same view of history and ideology; they find the need to live together as one independent nation that has a goal to grow in order to maintain their own identity, to make a prosperous, and a powerful nation. Therefore, nationalism is usually seen as an ideology that keeps the unity of a nation together. It has set up a standard for political and social views which to prioritize the needs of the nation above all things. ThisRead MoreThe Evil of Armenian Genocide Essay836 Words   |  4 Pagesyears. Armenians were not great fully equal but they did in fact have no violence at the time. The reason why things were getting out of hand was because of nationalism. It was a new power in the world, which made the cultural alliance very significant. Therefore because of Nationalism the Ottoman Empire began to have problems. Also, Turkey was fearful of the Christian crusade, therefore things went politically worse because Armenians were starting to become the only major Christian minority. World War

Managers Accounting And Reporting Choices -Myassignmenthelp.Com

Question: Discuss about the Managers Accounting And Reporting Choices. Answer: Introduction The function of finance of every organization whether small or whether big plays a very important role. It is because its only the finance function around which the working of the whole of the organization depends. For instance in order to make the purchases, finance is required and in order to receive the payments from the customers then also finance is required. Finance is performed by following the correct method of accounting and underlying accounting rules and procedures. Through this report the annual report of the company Woolworths Limited have been analysed for the year ending 30th of June 2016 and 30th of June 2015. In the first section, the accounting policy of the company for key items have been discussed and simultaneously the assessment of the flexibility in accounting have been done as to what extent it can be distorted by the managers of the company. In the third section, the strategy that the company has adopted in doing the accounting has been critically evaluated with reference to the position of the competitors. Section four has evaluated the quality of the disclosure that the management has made in their financial statements of the company. In the section five, the issue that has shown some discrepancies in the accounting policy or the strategy adopted by the management has been analysed. In the last section of the body of the investigation report, it has been analysed whether the company has followed the conceptual framework of accounting or not. With these sections, the report has been ended with the appropriate conclusion. History Of Company And Adopted Key Accounting Policies For the purpose of conducting the investigation report, the company Woolworths Limited has been selected. The company is a listed company in stock exchange of Australia and has been founded in the year of 1924 when it was the small store providing daily items for the consumer. With the passage of the time, the company has been growing with the multiplicity of factors on year on year basis and has stepped into the market of India by opening the joint venture as Croma. Since its formation, the company has made the focus on the daily consumer needs and has changed their products according to the needs of the consumer. In the current scenario, company is working as the supermarkets where all the items are readily available for the consumers at the cheap price. It includes from the products like fresh fruits, vegetables to the electronic items which in the todays era is very necessary for every household (Company Official Website, 2017). The financial year of the company usually ends as defined in the Corporations Act, 2001 ends on 25th of June every year. On looking after the financial statements of the company for the financial year ending 25th of June 2017, the following key accounting policies and estimated have estimated have been mentioned below: As per note number 1.3 of the financial statements of the company, the directors are authorized to make the judgments, estimates and assumptions that will affect the items as reported in the financial statements. The estimates, judgments and assumptions are based on the historical experience of the company as to how they have made the above in the earlier years. The matters involving the higher risk of having the material effect over the items as shown on the financial statements have been mentioned separately under the separate heads for Useful life assets for estimating the depreciation, impairment of the assets, onerous leases and operations that have been discontinued which includes the impairments and other details (Anastasia, 2015). For instance the company has adopted the accounting policy for the assets of the company is that the asset will be value at the cost incurred to bring asset to the present location and condition less the value of the depreciation as calculated on the basis of the estimated useful life of an asset less the amount of impairment loss if any as indicated by the conditions. With the aforesaid accounting policy, the major accounting estimate taken by the management is the measurement of useful life an asset. It is also regarded as the key success factor for every organization as the noncurrent assets forms part of the net worth of the company and the investors are at first willing to have the asset information immediately after knowing the earnings per share. There are other accounting policies too that is regarded as the critical success factor of the company recognition of the revenue, measurement of inventories, etc. Assessment of Accounting In the every organization, every managers of the company to some extent have the liberty to make the estimates or judgments at their comfort level which means in the manner which is leading the benefits to the managers (Weygandt, 2012). The most common motive for adopting the flexibility in the accounting is to have the increase in their remuneration. The company provides the remuneration to their managers on the basis of the two plans. One is as known by the name of the short term incentive and the other plan is the long term incentive. In this it is mentioned that if the revenue is increased by such percentage then the managers will receive the amount as remuneration. It is because of this factor the managers of the company are generally motivate to inflate the sales figure and thereby getting the higher remuneration. In this way the accounting policies of the company are considered as flexible by the managers (Cooper, 2015). The same can be noticed from the annual report of the co mpany that the companys revenue has been increased from $53473 million for the year ending 2016 to $55475 for the year ending 2017. It has been made despite of the fact that the company is in the process of saving the risk due to the foreign exchange currency and the closure of the BIG W business (Bryer, 2013). The company has very clearly defined in the annual report of the company that the company has followed all the accounting policies and the accounting procedures as defined in the accounting standards and the international reporting framework standards and has also complied with the conceptual framework of accounting. But as per the policies relating to the remuneration to be given to the directors of the company and the companys strategy to increase the wealth of the shareholders of the company, there are chances that the company might have involved in the manipulation of the figures of the items as shown in the financial statements of the company. They have used the estimates at their own judgmental level for instance the useful life of an asset that the company has estimated is at the discretion of the management and secondly the cash flows that the company has estimated for checking the impairment of the BIG W business is totally at the discretion of the manager of the company. Th ere might be the chance of distortion because of which the company has written off the impairment loss of $35.3 million in the financial year ending 2017. Thus, it can be very well inferred that there are the chances of having the higher degree of flexibility in choosing policies and estimates. Evalution of Strategy in Accounting Continuing with the accounting flexibility, the strategies that the company has adopted has in some manner has given an extended arm to the managers of the company to make the amendment and provide the distorted picture of the financial information of the company to the stakeholders including the shareholders of the company. As per the accounting norms and principles, each and every company shall comply with the generally accepted accounting policies and procedures that are universally applicable and made. Therefore, as per the industry norms, the accounting strategy is to the major extent flexible. But it has been reduced with the introduction of some normative theories of accounting like conceptual framework of accounting, continuous disclosure regime, etc. These two facilitates that the financial statements shall be relevant, shall be consistent, shall be error free and shall represent the faithfulness of the operations of the company. The increase in the revenue figure is totally the distortion of the financial information that the company represents to the stakeholders of the company. The further flexibility that the managers have taken, as depicted from the figures in the consolidated profit and loss account, by having the increased profit percentage. For the financial year ending 2016, the company has earned the earnings before interest and income tax at the rate of 2.79 % and for the year financial ending 2017 the company has earned the earnings before interest and income tax at the rate of 4.14 %. It is clubbed with the major that the revenue has been increased only by 3.74% (Company Official Website, 2017). It has very clearly dictated that the managers are truly and fully involved in the distortion of the figure of earnings before interest and income tax (Kothari and Ball, 2014). It is because by having the earnings before interest and income tax as higher the wealth of the shareholders will increase and th ereby will increase the interest of the shareholder to invest more in the firm. Similarly, in order to have the additional borrowings from the bank there might be the possibility that financial institution which is ready to extend the loan has decided to bring the level of debt equity to the level at below 1.40. As per the consolidated balance sheet, the debt equity ratio for the company has been decreased from the level of 1.67 at the yearend 2016 to 1.32 at the yearend 2017 (Ingram, 2008). As per the concept of the positive accounting theory, the accounting treatment of any transaction is governed by the understanding of the behavior of persons employed in the accounting department. According to this theory, the managers of the company will act in the manner in which they think it will actually fit. Therefore, as per the analysis made, there are high chances that the managers would have distorted the financial information of the company for the benefit of themselves and for the company. And it has also been inferred that the transactions have been greatly structured for the achievement of the objectives of the company in full. Evaluation Of Quality Disclosure With the introduction of the continuous disclosure regimes, the companies are required to disclose each and every information whether financial or non financial to the stakeholders of the company as quickly as it can. The information shall be of the nature which can affect the position of the company in the market by materially affecting the share price of the company (Sinha, 2012). On the plain reading and the analysis of the financial statements of the company, the adequate disclosures have been made. And more importantly along with the information that the company has disclosed in the annual report of the company, the auditors of the company has also disclosed the relevant information and the important matters in accordance with the new auditing standard number 701 on communicating the key audit matters to the client management. It facilitates that the company has followed the accounting standards and the accounting principles in true spirit. The notes to the financial statements have provided all the information relating to the particular item. For instance note number 3.3 of the financial statements of the company have fully described as to how the property plant and equipment will be valued at the end of every year, on what basis the useful life of an assets have been estimated and how the depreciation have been calculated. Before ending of this note, the company has disclosed the critical accounting estimates regarding the useful life of an asset and carrying value of properties (Company Official Website, 2017). For the former it says that the estimates of the useful life are reviewed at the end of each year and where it is changed then the written down value of the asset is depreciated accordingly. For the latter it is mentioned that for estimating the carrying value of the property plant and equipment the opinion of the external agencies are obtained at the end of every three year. It exhibits that the estimates or judgments made by the management will be checked and reviewed by the third part agencies also. Another important disclosure that the company has made for the BIG W is adequate as it has outlined all the major situations and the circumstances and the estimates that will prevail and according to that the company has detailed the analysis by following the sensitivity analysis for determining the impact of the key assumptions made on the recoverable amount of the BIG W and its has been analysed that there will be 45% set off the losses in the future years. Along with the above the company has made the proper disclosure of the segments. The company has the following segments which are reportable as per the accounting standards: Australian Food New Zealand Food Endeavour Drinks BIG W The annual report has detailed the separate profit and loss account for each segment as per the operations and as per the geographic location. In this manner, the quality of the disclosure of the information in the annual report is high. Identification Of Discrepancies The following discrepancies have been observed from the annual report of the company which requires further information to form the opinion: The debt equity ratio has been considerably decreased from 1.67 in the year 2016 to 1.32 in the year 2017. Information is required as to why it has been considerably decreased. Is there any debt covenant which has imposed by the financial institutions or the company wants to make the company as debt - free? It is because it has not been revealed from the annual report of the company that it has been decreased (Phillips and Heiser., 2011). The earnings before interest and taxes are at the increased level as compare to the previous year. The relation between the sales and the earnings before interest and taxes are as equivalent to the double proportionate value of the previous year. No explanation or disclosure has been made as to why the company has received the higher percentage of earnings before interest and tax. Although the company has made the impairment loss for the BIG W business, but the correct reason for continuing the same has not been detailed. It shall be supported by the external agency report or any other third party opinion. The auditor has communicated the three key audit matters to the management of the company identified during the audit. First matter is related to the discontinuance of the Home improvement business. It has been disclosed because of the complexity in the nature of accounting. The accounting details will be required for further investigation. Second is related to the recognition of the BIG W impairment and the third is related to the provisioning of inventory. In this way, there are discrepancies which require further information. Compliance With The Conceptual Framework The conceptual framework of accounting consists of the three qualitative characteristics. One is the faithful representation, second is relevancy and the third is consistency. Faithful representation states that the financial statements shall be free from error and neutral. Relevancy means it should be relevant for the users of the financial statements of the company and consistency means that the financial statements shall be prepared in consistent manner (Capital Markets Advisory Committee Meeting, 2013; International Accounting Standards Board, 2010). As per the notes to accounts of the financial statements and the significant policies of the financial statements, the company has followed the conceptual framework of accounting in full. It is because all the accounting policies have been mentioned and more importantly the critical accounting estimates and the judgments have been mentioned for estimating the useful life of an asset and carrying value of properties, calculation of impairment of assets, provisions for leased assets and the estimates made for the discontinued operation of the Home Improvement (Weiss, 2014). It has been further full filled when the auditor of the company has communicated the key audit matters in their audit report and that too only for the benefit of the stakeholders of the company. It depicts that even the company has not forced the auditor to not to disclose the information publicly rather hide it for the benefit of the company. For instance, the valuation of inventory, discontinued operation of BUG W, etc. Thus, the company has complied with the conceptual framework of accounting. Conclusion The accounting and finance part of every company plays a significant role in the success of the business. There have been many instances where the business has been collapsed only because of the wrong method of accounting adopted by the company and the working strategy adopted by the company regarding the disclosure to be made in the financial statements of the company. In the report, the accounting policy of the company Woolworths Limited have been analysed and the strategies that the company has adopted for the compliance with the conceptual framework, compliance with the required disclosures in accounting framework and the discrepancies if any in the annual report has been analysed and somewhere critically described with the competitor company Wesfarmers Limited. To conclude the investigation report, the company has been following the prescribed accounting policies and has adopted best strategy for the accounting and disclosure of the information. Referance Anastasia, (2015), Financial Statement Analysis : An Introduction available on https://www.cleverism.com/financial-statement-analysis-introduction/ accessed on 16-09-2017 Bryer, R.A., 2013. Double-entry bookkeeping and the birth of capitalism: accounting for the commercial revolution in medieval northern Italy.Critical perspectives on Accounting,4(2), pp.113-140. Capital Markets Advisory Committee Meeting, (2013), Conceptual Framework available on https://www.ifrs.org/Meetings/MeetingDocs/Other%20Meeting/2013/March/AP%203%20conceptual%20framework.pdf accessed on 16-09-2017 Company Official Website, (2017), Annual Reports available at https://www.woolworthsgroup.com.au accessed on 16/09/2017. Cooper S, (2015), A Tale of Prudence, available on https://www.ifrs.org/Investor-resources/Investor-perspectives-2/Documents/Prudence_Investor-Perspective_Conceptual-FW.PDF accessed on 16-09-2017. Ingram, R.W., 2008. A note on teaching debits and credits in elementary accounting.Issues in Accounting Education,13(2), p.411. International Accounting Standards Board, (2010), Conceptual Framework for Financial Reporting 2010 , pages 16-21 Kothari, S.P. and Ball, R., 2014.Financial statement analysis. Mcgrew-Hill Companies. Phillips, F. and Heiser, L., 2011. A field experiment examining the effects of accounting equation emphasis and transaction scope on students learning to journalize.Issues in Accounting Education,26(4), pp.681-699. Sinha, G., 2012.Financial statement analysis. PHI Learning Pvt. Ltd.. Weygandt, J.J., , 2010. Accounting principles.Issues in Accounting Education,25(1), pp.179-180. Weiss D, (2014), Faithful Representation available on https://bschool.huji.ac.il/.upload/Seminars/Faithful%20Representation%20October%202014.pdf accessed on 16-09-2017.

Present and Future Values - and Expected Returns

Questions: 1. Importance of Present and Future values.2. Factors to be considered while computing Present value (PV) and Future value (FV).3. Practical applications of PV and FV method.4. Bond prices is inversely related to rising market rates. Answers: 1. Importance of Present and Future values PV is the current value on a given date of payment on a series of payments made at different times. The discounting method is used to find out the current value of a future payment. As such, the understanding of the concept of Present value of money, for a future investment becomes essential for future investments .A future value method estimates the future nominal value of the existing monetary amount. These two techniques are used in Capital budgeting techniques to assess the profitability of an investment. However, this does not include attributes like inflation, market demand while calculating the future sum. The capitalization method is used to find out the future value of an existing amount of money. 2. Factors to be considered while computing Present value (PV) and Future value (FV) Future payoff Hirsa and Neftci, (2013) mentioned that money at hand is offers more value than its future payoff. Thus, it becomes essential that the future payoff of money is considered, while calculating PV and FV value of money. Risk -There exists a certain risks in measuring Present (PV) and Future value(FV) of money, inspite of its usefulness and accuracies (DeFusco et al., 2015).As these factors do not consider market demands, inflation rate, and the average purchasing power of consumers the values calculated may differ with the actual, present and future value of money. Discount Rate As money derived from a third party incurs a bigger risk than money placed in a bank, such possibilities must be taken into account. In business finance, it is done through developing a certain discount rate. As such, the discount rate offered by banks is not accepted by corporate house, and settle for a higher discount rate. According to Hirsa and Neftci (2013), higher the risk, greater the discount rate assumed for calculating PV and FV. 3. Practical applications of PV and FV method The future value of money can be used in judging the financial viability investments of an investment. If $100 is made as an investment, the value of that amount in the span of one year can be calculated by using the future value (FV) formula. Besides this PV and FV, method can be used to calculate the cash flows of present day investments 4. Bond prices is inversely related to rising market rates When market interest rate rises, prices of bonds reduce. As such, this occurrence is known as interest rate risk. If we consider zero coupon bonds, which relates the monetary amount between the cost price and par value of bond at maturity. As an example- We take a zero-coupon bond, which is trading at the market at $950 and has a par value of $1,000 (paid at the bonds maturity in one year). The bond's rate of return at current time would be (1000-950) / 950 = 5.26% In this case, if current interest rates were to rise, it would result in bonds yielding at 10% rate if return. Thus, investors would not be interested in a zero-coupon yielding an return rate of 5.26%. Therefore, to create market demand, the cost of zero coupon bond shall have to fall, to match level of income in the existing yield rates. Thus, it can be seen that the bonds price is inversely related to the market interest rates. References DeFusco, R. A., McLeavey, D. W., Pinto, J., Runkle, D. E., Anson, M. J. (2015).Quantitative investment analysis. John Wiley Sons. Hirsa, A., Neftci, S. N. (2013).An introduction to the mathematics of financial derivatives. Academic Press.