In Praise of Margins Essay Example | Topics and Well Written Essays - 1000 words

In Praise of Margins - Essay Example The major weaknesses of this study are concentrated on the different examples of margins. As Ian Frazier notes, margins include both activities and places. Therefore, margins could include visiting a park, dancing studio, and visiting a friend’s place; and activities such as playing football or any sport, listening to music, watching movies, reading, dancing, and hiking, among others. Therefore, whether it is activities or places, margins are of value, as they provide individuals with an opportunity to be themselves and care less about the things in the outside world. It is therefore, important that an individual has margins, including activities and places, owing to the many positive outcomes that margins hold for an individual. A major example of margins in Frazier’s essay is the woods. As a child, Frazier and his friends spent most of their time in the woods. At this place, they together, had fun with each other and felt more comfortable. In the woods, Frazier and hi s friends would escape from the real world. They engaged in activities such as making forts and shooting frogs with slingshots. They also engaged in the activities of crushing ice and climbing trees. Here, they created their own little world where they did as they wished without fear of judgment. Frazier believes that the things that he and his friends did in the woods were marginal. However, these were important, as they served a purpose in his future. As an adult Frazier still visits the woods.

Accounting questions Essay Example | Topics and Well Written Essays - 750 words

Accounting questions - Essay Example In Pakistan, the rules and regulations applying to published financial statements under Companies’ Ordinance 1984 include, release of quarterly financial statements by management after review of the same by an external audit firm (Ashraf & Ghani, 2005). Financial reporting in Pakistan takes formats in accordance with the IFRS (International Financial Reporting Standards). Other statutory requirements under the SECP include usefulness of statements to users by being understandable, relevant, faithfully represented, prudent, complete, neutral, and within the proper period. The change I would suggest to these regulations would include recognition of materiality and aggregation in presenting similar class items separately in the financial statements. This principle acknowledges substance over form and is closely linked to faithful representation of financial reports. This change would ensure that the auditors recognize the presentation of prepaid cards as revenue in accordance with their substance, which reflects economic reality. I tend to agree with the numerous accusations leveled against the auditors by the company’s management. First, the auditors had suddenly changed their view on recognition of prepaid cards as revenue for the financial period based on sale and not usage. The auditors had given a clean report of their audit, and still went ahead to suggest a different revenue recognition policy. The issue with meeting time deadlines by the auditors also violated SECP regulations on timely presentation of financial reports (Ibrahim, 2006). Regulations governing the corporate sector stipulate that the auditors should be free of any conflict of interest to give an unbiased and very independent opinion (Ibrahim, 2006). The replacement of auditors under SECP directives mandates the commission to appoint new auditors, which is a way of enhancing