Child Abuse Paper Essay Example | Topics and Well Written Essays - 1250 words

Child laugh at Paper - Essay Example(Roberts) It is both terrific and disheartening that the step of minorren, despite the legal sanctions in place in every part of the world, is bland so rampant. This paper will attempt to discuss the history of child abuse, the different forms of the crime and the punishment set for abusers. Historical Background Throughout history, children have been abused and failed. This is said to be a final result of the low value placed on children. (Weisberg) The maltreatment of children has its roots in ancient times. Two examples from the parole that stand out are when a Pharaoh orders babies to be killed during Moses time and when King Herod instructs the killing of infants during Christs birth. It is said that children were considered property in ancient times and were easily sold, mutilated, killed or used as free for the gods. (Volpe) This disregard for children continued until the Middle Ages. During this period, unwanted children served as apprentices while those with deformities were declared omens of evil and were killed. (Child Abuse) Parents and even teachers in the Medieval Period believed that beating the child was the norm for instilling discipline. (Snell) Because society did not see it defame parents teach their children by way of spanking or hitting the latter, most of the reported cases of child abuse were between masters and servants, who were children. (Child Abuse) The case of Mary Allen McCormack in 1874 was the first time a victim of child abuse was brought out in the open. McCormack had been given up for adoption and was physically abused by her adopted mother until her neighbors brought her case to the Department of Public Charities and Corrections. (Markel) Ironically, the case was initiated by the American Society for the Prevention of abrasiveness to Animals as there were no laws to protect children from physical abuse inflicted by parents. Fortunately, the case triggered movements for the formu lation and enforcement of laws to cede and protect abused children. (Watkins) Forms of Child Abuse According to the World Health Organization, child abuse and neglect is defined as all forms of physical and emotional ill-treatment, sexual abuse, neglect, and exploitation that results in actual or potential harm to the childs health, development or dignity. (Child Maltreatment) somatogenic abuse, sexual abuse, neglect and thoughtless treatment, emotional abuse and exploitation are the five types of child abuse. Each of these may be draw in various ways in different nations. In the United States for example, although the Federal Child Abuse Prevention and Treatment Act (CAPTA) gives the minimum criterion for physical child abuse, child neglect, and sexual abuse, it besides only defines sexual abuse and special cases concerning withholding or failing to provide medically indicated treatment. (Pecora, et. al.) Physical abuse is generally inflicting bodily harm to a child when in an ger. The trauma should be non-accidental. This is withal referred to battered child syndrome. People who beat children are often those abused themselves when they were young. Nevertheless, alcoholism, domestic violence, drug abuse, neediness of education, poverty and being a single parent can increase the risk of abuse. (Child Abuse -

Thinking about Publishing Essay Example | Topics and Well Written Essays - 500 words

Thinking about produce - Essay Examplewhen you venture of authors, what do you think motivates authors to want to publish their work, and why do you think they might choose the item forms they choose like printed books, ebooks, blogs, newspapers, etc?Authors publish their works with an aim of disseminating their written work to the public in a more appealing way. The create information can either be fictional or non-fictional. Publishing non-fictional works has always been a valid choice for many authors, especially those who have a unshakable foundation as well as means of distribution (Konrath).3. What be some unalike formats of published work and specific publications you yourself generally read? Be as specific as you can. (This could entangle websites, newspapers, magazines, email newsletters, books, ebooks, textbooks, novels, comics, etc)There are different formats of published works. These formats include books, textbooks, novels, magazines, websites, and newspapers, among other formats. In book publishing, there are different types of book publishers, depending on the market of the book. Those who publish books found in most bookstores are professional publishers, academic publishers, and self-publishing services (Konrath).4. In your own life, what are some interesting things youve noticed about publishing? This might include changes youve seen over the course of your life (like maybe you bought an e-reader and your experience of books changed). Or it might include differences you see between publishing in the US and publishing in another country where youve lived or visited. Or it might include your experiences reading articles for school online vs. reading printed textbooks. Anything that comes to mind is greatIn my integral academic life I have witnessed a lot when it comes to publishing. I have seen many changes in the course of my life. I once bought an e-reader which totally changed my experience of books. In addition, in the course of visiting different countries to pursue my

Review of manuscript Essay Example | Topics and Well Written Essays - 750 words

Review of manuscript - Essay ExamplePrevious studies had suggested that many pests show an outgrowth in population growth in a host crop which is nitrogen enriched. The current look for was done in an area measuring 150m by 32m in New South Wales. It used quaternarysome different treatments which were applied to the trial plot by means of broadcasting methods.I hereby back up that this particular manuscript has not been published anywhere or considered by any other journal. I have approved the manuscript and agreed to its submission. I would like to thank the editor and the reviewer for the informatory and instructive comments they made. The comments have greatly improved the manuscript. I look forward to the journals response.In the study that was carried out, it was quite apparent that the statistical power was dependent on factors that included the statistical meaning criterion, the management of the effect of interest and the sample size used. In order to limit the Type I e rror, which may result from these factors, the data was collected in five transects with each being divided into four replicates. By creating transects and replicates, it was possible to limit the occurrence of type I error while at the like time ensuring that the reliability of the data was enhanced. The higher the number of transects, the lower the probability of Type I occurring in the study.In the ANOVA analysis, the main assumptions made were related to the normality and the homogeneity of the data collected in the study. It was assumed that normality and constant variance would be present in the data. To check the assumptions, a upright parametric procedure involving the detection of the outliers was used. Since outliers have the potential of impacting on and influencing the homogeneity of the data variance, it was checked to batten down that the assumptions made were inherent in the data. The method for checking

The Environmental Impact Assessment Process Essay

The Environmental Impact Assessment Process - Essay ExampleEIA has the potential of raw(a) down on costs abstruse in an unanticipated environmental impact (PADC, 2007, pg.7). The costs involved in facilitating the changes that have to be made upon completion of the project, due to environmental effects, will be much than the costs involved in trying to avoid the harmful ramifications (EIA, 2015).The processes involved in coming up with an EIA report may not necessarily translate to a delay in the planning of the project. However, discover has shown that delays experienced in the planning of projects can be noteworthyly reduced with an effective EIA that will wind to saving time and costs.The exact period of coming up with an EIA may range from anywhere between three months to two years. The time depends on factors such as the nature of the project, its location and availability of search data. It is highly recommended that the process of EIA be integrated with other project pl anning activities so that it can be carried aside at the same time with the rest of the project. The integration will enable saving of time, thus avoiding delays as a result of the EIA planning.The EIA process raises environmental issues that have to be put into consideration when carrying out the planning of any project. The EIA has the potential of necessitating the redesigning or delaying of a project. It can also offer suggestions that can be made on the project once it has been found out that the project can cause significant impacts on the environment. An effective EIA will have the effect of cutting down on costs and delays that other than would have affected the planning of the project. Therefore, EIA makes a significant difference to projects and decision-making once it has been approved.2. Critically review the voice of consultation and public participation (CPP) in the EIA process. Indicate the benefits and difficulties associated with undertaking CPP at respective(a) stages and in involving various types of stakeholders, and discuss the main methods of achieving effective CPP. Use examples as appropriate in your answer.

Selling own common stocks Research Paper Example | Topics and Well Written Essays - 1000 words

Selling feature popular stocks - Research Paper eccentricThese methods are open market, fixed price tender, private negotiation, repurchase and Dutch auction. It was in the late twentieth century that there was enormous increase in the shares volume repurchase in American, which rose from $5 billion in the year 1980 to $349 billion in the year 2005 (Stock Buybacks).It has been noted that the think behind the corporations enormous amount of repurchase and selling of their own common shares is subjected to more or less conflicting interpretations. However there is no satisfactory explanation to these changes that occurred in the repurchasing activity of these corporations over the pull round few decades. The dramatic increase in the repurchase of open market shares occurred in 1990s and some(prenominal) factor led to its development. One of the factors is considered to be the improved regulatory environment which supported the repurchase of common stock which resulted from the a daption of rule 10b-18 introduced by the Security and Exchange Commission, or SEC in the year 1982. other factor that contributed to the repurchase is considered to be economic conditions. This paper discusses the reasons why corporation sell and purchase their own stock.A study was conducted regarding the open market repurchases which concluded that it is the changes in the compensation policies that often led to the changes in the payout policy. The result also indicates that the firm usually announces repurchases when executives pay off several different options outstanding and when the employees too have several options present that are exercisable. Once the firm makes the decision of being engaged in a repurchase, the amount of stock repurchase can be positively related to the total number of options that were exercisable by the workers, independent of the option that the executives had. The result of this study remains consistent with the managers repurchasing both for fundi ng

Automating computer usual processes Essay Example for Free

Automating computer usual appendagees EssayNowadays, almost all kinds of establishments argon relying on computers for automating their usual processes. Most of the manual of arms establishments in offices ar replaced by the automated systems which engross computer technology. Moreover, computers rescue as well diminished the total manual works and the effectiveness of employees has also increased because of the dependence of establishments on computer technology. It helps also to perform the routine business tasks much quicker comp ared to the manual port of doing things. development processing system nowadays is no longer considered a luxury but rather a necessity with the effect of information technology 1 We are in the so-called information age, and every transaction at every phase of the establishments depends on modern computing. As observed, there are already m whatever manual systems that are being replaced by the computerized ones. Some of these are the payrol l, sales and observe, point of sale, enrollment, grading, library, and otherwise related to systems.. consolidation with the people in the society is in demand for take place.The relation field of Information applied science concerns the use of computer-based information system to convert, process, protect, share, store, transmits and retrieve information. Technologies have brought us more advances on personal computer, to build innovative industries and change the lifestyle of each individual. These advances became more powerful and more productive for simultaneous growth in society and industries. Using Internet is one of the medium of todays communication, people easily link in the stream events in their community and even outside their places and acquire necessary information in just a short period of time. 2As the saying goes, Nothing is permanent than change so as with Information Technology. This field exit continue to prosper and continue to help change lives by am end it. Although most people, especially in the Philippines still prefer the old ways or manual transactions, the future tense Filipino generations testament eventually embrace change and not only that, but also be the one to provide change through the future students and graduates that will courageously take this field.Every fleck of information is now considered as a powerful tool hence it should be used and coped with the end caution. This mere reason prompts many establishments to produce their own systemthat will protect information. The Bicol Consortium for wellness Research and Development (BCHRD) was established to address the vivacious health condition in the Bicol domain. It is a set up system involving various institutions in the region with interest in health investigate. The BCHRD was created upon the partnership with Philippine national health Research System (PNHRS), Regional Development Council (RDC) with the member institutions of Department of Health ( DOH) ,Bicol Regional and provision And Teaching Hospital(BRTTH), Commision on Higher Education (CHED) , Bicol University (BU), Catanduanes State University (CSU), University of Saint Anthony, Ago Medical and Educational plaza (AMEC), Atedeo de Naga, University of Nueva Caseres, Camarines Sur Polytechnic Colleges, Aquinas University of Legazpi (AUl), Department of Science and Technology (DOST), Bicol Medical Center, Partido State University (PSU) .Universidad de Santa Isabel.The existing health condition in the region necessities the establishment of a strong health query and drawment (RD) arrange system involving various institution in the region with interest in health look into. Putting them unneurotic to work on consortium arrangement will promote complementation, thereby increase the synergy despite limited resources for RD undertakings. The Bicol Consortium for Health Research and Development (BCHRD) was therefore established to address the afore mentioned concerns. The primarily stopping point and objective of BCHRD is to institute/strengthen the system collaboration in Bicol to bob up and enhance the capacity of research institution within the region which have interest and engage in health related researches, as a strategy to improve the health condition of Bicolanos ad hocally the consortium aims to (a) Undertake and/or spear-point health related Research and Development (RD) activities (b) Establish a collaborative system for effective share and utilization of physical, financial and manpower resources among member-institution as well encourage the active involvement of non-members that will fave the way for expanding the membership of consortium(c) Promote an effective collaboration and harmonious working relationship between among member-institutions in the conduct of researches in health, nutriment related fields (d) Encourage, generate and provide funds for health related researches in accordance with the health and nutrition priori tyareas/sectors indicated in the plans of the Regional Development Council (RDC) and the Philippine topic Health Research System (PNHRS) (e) Develop the capability in manpower, facilities and other infrastructure for health and nutrition and other related researches (f) Effectively promote the proper utilization of health research findings (g) Serve as clearing house for all health related researches (h) Establish linkages/network within and outside the region and (i) Institute a mechanism and implement strategies for a sustained visibility of the consortium and ensure a long- bourn viability of the consortium. Monitoring system is not just used in the field of industry it has also a very significant role in up(p) the quality of education in the untaught (Philippines).Once this technological approach is implemented a full assurance that the aimed quality of educational system will be able to reach its peak of being more organized and well meliorate system In terms of paper work s, these two types of management system can easily manage the projects through having an Proposal supervise system. Archiving system refers to the process of moving data through an automated memory device that helps the people to access the data easily. Before, an archival record was identified with manuscripts or with written records. old age passed by, archival record refers to recorded information, specifically in paper-based transforming it to automated form method. Implementing an archiving system of records can do task of organizing, monitoring and easy generation of reports.On the other hand, all the Research marriage proposal that are pending, denied or approve must be monitored in order to ease the different operations and functions of organizations. In this study, monitoring system for the research proposal of the institution is the most needed to work to. This system updates the current status of the research project. In addition, monitoring system has a significant ro le in improving the quality of the implemented projects to be able to reach its goal. Because of its function, they are having problems in a certain field. They take care to have problems in the management of projects from time to time. In addition, the increasing burden of creating and maintaining the archive of projects. Their file retentivity is full of projects making it a burden when finding a needed project. This study aimed to create a system for the Bicol Consortium forHealth Research and Development. It covered the storing and updating of projects that are processed in the subdivision and also uploading projects in the system that can be retrieved easily.Statement of objectiveGeneral ObjectivesThis study aims to develop a research proposal and monitoring management system for the Bicol Consortium for Health Research and Development.Specific Objectives1.) To create a system that will facilitate research proposal and monitor status for approval.2.) To develop a monitoring system for all on-going researches.3.) To record all pending, approved and rejected proposals, and on-going and completed research of the health proponent/researcher.4.) To create a secure system for monitoring of research proposals and projects.5.) To generate reports on the status of research projects and proposals.Scope of the SystemCheck the requirements for filing a proposalKeep track of the status of the proposalKeep track of the researchs accomplishments and budgetsMonitor progress of ongoing researchScope and DelimitationThis study is about Bicol Consortium for Health Research and Development. This will cover the checking of requirements the tracking and monitoring of the proposal. It has the overall planning, coordination, and control of a project from beginning to completion. The system records the detailed planning, proposed, on-going and finished projects in the department. Oldfiles were also scanned and be saved as pdf. The secretary, regional administrator, institu tion vanguard and all the member of the health research were given privileged to view the system. The employees may ask the administrator of each section if they need files that were in the system.The head administrator provides admin accounts for each section head. The proposal monitoring management system has different sections for the storage of projects (proposed, on-going and finished projects) and it provided easy access to the projects status and tracks the finished projects that are archived. Old and new files are archived in this system. The date could only be searched, retrieved and printed. The archive could be searched by date, name etc. As for the proposal monitoring management system, it provided an automated monitoring and checking the status of ongoing research development. It has additional features, like the user is notified for the reminders of the agency and the system is secured by providing administrator restrictions.On the other hand, the proposed system woul d not include other health researcher that are not member of the institutions that are part of BCHRD. The study only focused on the automation of storage of all projects that would be do and were done, monitoring its status among various sections of PDMO and provide an automated maintenance plan in monitoring, checking and repairing of items.Significance of the take upThe result of the study will benefit the followingBicol University.College of Science One of the four-fold functions of a university or any academic institution is research. This study will be another contribution to the research achievements of the university. BCHRD (Bicol Consortium for Health Research and Development).This lessened the manual labor of the agency through the use of the system which operates the research projects and monitoring plans for BCHRD.Employee. The system helped the employee to do their job efficiently, properly and effectively. Students This study will serve as an educationaland adduce ma terial for their future studies and undertakings. This may also give an idea on making their own versions of the existing software, thus presenting their own modifications.Researchers. This study which is connected to the Research Proposal Monitoring and Management System will improved the researchers knowledge in programming skills and their sense of responsibility.Future Researchers. Students who will undertake future research projects can use this study as reference material. This will provide the future researches sufficient information with regards to system development.Definition of TermsFor better understanding of the study, the following terms were defined operationally or concepltually Research Proposal an study that request time and fund from instition Monitoring Management System the process of checking the updates and status of ongoing health research Proponent in this study the proponent is the person who is requsting or conducting health researh Storage. , this term re fers to the method of storing finished and proposed projects for future use. Secure System in this study this term refers to a system that cannot be easily tamper the information that is stored.EDIT OR E-REVISE NIONotes1 The Grolier cyclopaedia of Knowledge, USA Grolier Incorporated, 1995 (accessed on May 19, 2014 905am) 2http//my.safaribooksonline.com/book/information-technology-and-software-development/9788131760291/information-technology-basics/ch008006 (Accessed on May 20, 2014 218PM) What is Information Technology?.

Accounting Environment Essay Example for Free

score Environment Essay learning Outcomes At the end of this chapter the students should be able to ?Explain the meaning and purpose of news report ?Describe the parting of bill as a schooling system ? Describe why account statement is considered as the verbiage of trade ? Assess the impact of external milieual factors on business relationship Introduction Accounting has evolved and emerged as most other fields of human activity in response to the social and frugal take of society.Today be is moving away from its traditional procedural base, encompassing come in keeping and relate activities towards the adoption of a role which emphasizes its social importance. In this context, this introductory chapter of the course manual deals with the definition of score, drop of report as an information system and the dustup of business, use uprs of score information and the impact of external environment on invoice. Definition of Accounting The question what is mea nt by accounting has not been answered precisely. Instead on that point be many definitions on accounting.Some of these definitions be considered in this section to identify the purpose and tends of accounting. The Committee on Terminology of the American Institute of Certified habitual Accountants (AICPA) formulated the compriseers definition on accounting in 1941. Accounting is the art of recording, classifying and summarizing in a significant manner and in shapes of money, minutes and events which argon, in part at least, of a fiscal character, and interpreting the results thereof. This definition of AICPA, USA has been quoted for many years. However, it defines accounting only from the point of view of what it does.Hence, it does not clearly establish the purpose of accounting. On the other hand, the following definition provided by the American Accounting Association (AAA) in 1961 emphasizes the broader perspective of accounting. This definition focuses on accounting as an aid to decision-making. Accounting is the process of identifying, measuring and communicating economic information to permit intercommunicate judgements and decisions by users of the information. In 1970, AICPA of USA provided the following definition on accounting with reference to the concept of information.The depot decimal information used in this definition is wider in scope than financial or economic information used in previous definitions. Accounting is a service activity. Its function is to provide quantitative information primarily financial in nature about economic activities that is intended to be recyclable in making economic decisions. Both definitions of AAA and AICPA say that accounting is considered not merely with record keeping. Instead it involves with a whole range of activities. These dickens definitions emphasize on using accounting information for decision making purposes.Both internal parties of an placement (e. g. managers) and extracurricular parties (e. g. owners, creditors, government) use accounting information in making decisions that affect the organization. Although these definitions have looked at accounting from different perspectives, they have been able to set the term of accounting. They have established the nature of accounting and the purpose for which it is used. Hence, based on these definitions, it can be give tongue to that accounting is primarily pertain with the provision of information to unlike stakeholders of an organization to be used in decision making.Accounting as an Information System AAA definition on accounting implies two phases (1) identifying and measuring economic information and (2) communicating economic information to users (stakeholders of an organisation) for decision making purposes. These two phases show that accounting acts as an information system in an organisation. The accounting process involves recoding and processing of proceedings and events of an entity that had occu rred during a specific period of time, and communicating the information relevant to processed transactions and events to aid decision-making of various users of accounting information.As an information system, accounting links an information source or transmitter (prepargonr/s of information), a channel of communication (financial and other statements/reports) and a set of receivers (users of information/stakeholders of an organization). The Figure 1 shows how accounting functions as an information system in business and economic decisions. In the accounting system, transactions and events be the input and the statements of reports given to decision-makers ar the output. Figure 1 Accounting as an Information System in Business and Economic DecisionsData Source Lal, J. (2005), Corporate Financial Reporting conjecture and Practice, second edition, Taxmann allied go (Pvt) Ltd, New Delhi. Accounting as the Language of Business Accounting is often called the language of business be cause it is considered as the main mean of communicating information about a business. This reference to accounting as the language of business is observed by Ijiri (1975) as follows As the language of business, accounting has many things in common with other languages.The various business activities of a firm are reported in accounting statements using accounting language, just as reported news events are reported in newspapers, in the English Language. To express an event in accounting or in English we must follow certain rules. Without following certain rules diligently, not only does one run the risk of being misunderstand but also risks a penalty for misinterpretation, lying or perjury. Comparability of statements is essential to the effective surgical procedure of a language whether it is in English or in Accounting.At the same time, language has to be flexible to adapt to a changing environment. A language broadly has two components symbols and rules. In accounting too, the se two components are available. In accounting, numerals and words, and debits and credits are accepted symbols and they are unique to the accounting discipline. The rules in accounting refer to the general set of procedures followed in creating financial information for an entity. Anthony and Reece (1991) draw a collimate betwixt accounting and language as follows. Accounting resembles a language in that some of its rules are definite whereas others are not.Accountants differ as to how a given event should be reported, just as grammarians differ as to many matters of sentence structure, punctuation and choice of words. Nevertheless, just as many practices are clearly poor English (language), many practices are definitely poor accounting. Languages evolve and change in response to the changing needs of society, and so does accounting. Users of Accounting Information There is an array of users (or stakeholders) who make use of accounting information for decision making. These user groups include present and otential investors, managers, employees, lenders, suppliers, customers, analysts, media, government, and the general public. However, with the broadening of the accountability of organizations, they are accountable to a large group of stakeholders, some of them not clearly known or place by the organizations. These users can be broadly categorized as internal and external users of accounting information. The term internal users refers to parties in spite of appearance an organization that make decisions directly affecting its internal operations and this category usually includes managers and employees of an entity.All other users can be grouped under the term external users, which refer to parties outside the organization that make decisions concerning their relationship to the organization. These two major classifications of users have led to a distinction between two main areas of accounting financial accounting and management accounting. The primar y quill concern of financial accounting is to provide information to external user groups. On the other hand, the management accounting is primarily concerned with the provision of information to internal user groups. These users have diverse information needs.However, among these diverse needs too, there are common information needs. The financial statements of an entity that provide information about its financial performance, financial position, and changes in financial position address these information needs common to all users. As these financial statements are prepared to meet the information needs of a cross-section of users, they are known as common-purpose (general-purpose) financial statements. However, these financial statements do not provide all the information that users need to make decisions since they largely give the financial effects of past transactions and events.The responsibility to prepare and present financial statements lies with the management of an enti ty. As general-purpose financial statements meet the information needs of users who are unable to command the preparation of financial reports of an entity, the government has imposed regulations to govern these financial statements. These regulations are intended to protect the public interest. External environmental Factors influencing Accounting The pace and change in external environmental factors have a profound watch on business organizations and the way in which they are managed.These factors could be social, economic, political, legal or technological. Accounting, as the language of business and its information system is also affected by these changes. The changing conditions in the external environment have confronted accounting with a number of challenges that should be recognized, accepted and addressed to ensure its relevance and usefulness. This has make accounting to change and grow over the years to meet social requirements and to guide business and labor requireme nts. Thus, understanding accounting requires understanding the environment within which accounting operates and which it is intended to reflect.The society has been subjected to political, social, economic and technological change. These changes have resulted in globalization, the rise of informed and selective customers, the development of information technology and etc. These changes in the external environment factors are reflected in business organizations through the shift in business types and be profiles, increase in strategic decision making and greater emphasis on survival. The changing conditions within business organizations lead accounting to change in order to meet the new requirements resulted from these changes.The areas requiring changes in accounting include selection of data, information processing, dissemination of information, role of accounting standards, assumptions and perspectives of accounting, and uses and impact of accounting information. Thus, todays rap idly changing environment is forcing accounting to reassess its role and function both within the organization and society. Although challenges imposed by different environmental factors on accounting could be discussed separately, they should be viewed from a holistic perspective.This is because the power of potential improvement lies in the cohesion of the changes rather than in individual items. The changing conditions in the business environment will shape the future for accounting. The environment within which business and accounting function operate has become increasing complex. One of its characteristic features is that many social, economic, political, legal and technological influences that create unbroken change in that environment and these in turn impact on accounting and its product, accounting information.However, it is sometimes criticized that accounting has not been able to keep pace with this changing conditions in the external environment. Summary This chapter p rovides an overview of accounting based on its nature and purpose, users of accounting information and impact of external environment on accounting. The primary objective of accounting is to provide information that can be used by the stakeholders of an organization (users of accounting information) in making their decisions. These decisions could have a bearing on the resource allocation process in the country and thereby on the economic growth and development of the country.However, the role and functions of accounting cannot be considered in isolation from the social-political-economic context within which it is operating. The rapidly changing external environment is posing many challenges to accounting and it needs to adapt to these changing conditions. This requires a continual process of renewal and improvement in accounting. References American Accounting Association (1966), A Statement of Basic Accounting Theory, AAA. American Institute of Certified Public Accountants (AICPA ) (1941), Review and Resume, Accounting Terminology Bulletin, No. . American Institute of Certified Public Accountants (AICPA) (1970), Basic Concepts and Accounting Principles underlying Financial Statements of Business Enterprises, Accounting Principles Board Statement No. 4, Anthony, R. N. and Reece, J. S. (1991), Accounting Principles, Richard D Irwin. Ijiri, Y. (1975), Theory of Accounting Measurement, Research Report, No. 10, AAA. Lal, J. (2005), Corporate Financial Reporting Theory and Practice, second edition, Taxmann Allied Services (Pvt) Ltd, New Delhi.