Financial statements and accounting Essay Example | Topics and Well Written Essays - 1500 words

Financial statements and accounting - Essay Example Financial statements and accounting Firms may also prepare other types of statements such as the statement of retained earnings. Financial statements are required to be audited by authorized government agencies so as to ensure the accuracy maintained in the statements for tax purposes. Auditing helps to estimate whether the table revenue has been correctly been identified by the firms. Audited financial statements are also referred by different other firms, banks and individuals for taking decisions regarding investments. It is important that organizations follow all existing norms are regulations established by the regulatory authorities while preparing such statements. The financial statements are prepared by referring the detailed records maintained in the journal, ledger, trail balance and other books and statements of primary and secondary entry. These records are then presented in the financial statements in a summarized manner. Entries which have earlier not been passed in the primary and secondary books of acco unts are recorded in the final statements by preparing an adjusted journal proper. Such entries have their impact upon both in the income statements as well as the balance sheet. Accounting statements are generally prepared using the U.S. Generally Accepted Accounting Principles (GAAP) in most nations across the world. Many nations are also seen to follow the IFRS principles. More and more nations across the worlds are adopting the IFRS principles. At present, approximately 110 nations of the world adhere to the IFRS principles.

Theories of Attachment Essay Example | Topics and Well Written Essays - 500 words

Theories of Attachment - Essay Example New longer-term research studies had likewise shown that bonding occurs not only if the mother cares for the child but also with the fathers (Belluck, 2011, p. 1) in which fatherhood is a crucial component in raising successfully the child and of nurturing a family. One attachment theory developed by psychiatrist and psychoanalyst John Bowlby had emphasized the need of infants to have one consistent primary caregiver to whom they can attach normally during their social and emotional development, typically from 6 months to 2 years old. Usually, it is the mother that provides the need for an attachment figure but other people may in some cases be acceptable such as the father, the grandmother, the older sibling or close relatives. Another prominent theory on bonding is the one developed by Klaus and Kennell which states that maternal bonding is important which in turn gave rise to the new practice of bringing a new baby to its mother instead of being brought to the nursery. The theory became controversial as they postulated that maternal deprivation can lead to maladjustments later on such as an eating disorder, personality defects, juvenile delinquency and substance abuse by a failure to bond. I believe the attachment theory that is best aligned and integrated with my own views of attachment is the single caregiver theory. Infants stick to one caregiver during their first months of existence and any changes will result in the so-called separation anxiety as the infant grows a bit older and able to recognize faces and voices. It is therefore very vital to have only one person as the primary caregiver, maybe relieved by someone else but only for brief periods of time so as not to cause stress, anxiety, fear or other negative emotions on the baby who sees long periods of separation as a threat to its survival. The attachment theory by Bowlby is now