Advantages of oligopoly in UK supermarket industry

Advantages of oligopoly in UK supermarket industry Oligopoly in UK supermarket industry Supermarket, which provides a retail sales service, is an indispensable place for people who buy the daily things. The definition of oligopoly is that an economic condition in which there are few independent suppliers of a particular product that competitive pricing does not take place (Answer, 2010). It is manifest that the UK supermarket is under the structure of oligopoly. There are four main characteristics of supermarket in the UK. The first point with respect to this is that all the super markets in the UK sell similar products and produce branded products. Secondly, look at the bar chart on the right, the big companies has larger market share, because the big supermarkets will set high barriers to avoid new supermarket into market. More importantly, the companies must be interdependent. If one large supermarket takes an action, it will directly affect another supermarket. The chairman in the supermarkets has to take into account likely rea ctions of rivals to any change in price and output and the interdependence of sellers can keep the price stability. Finally, non-price competition is a significant strategy for selling, such as the VIP cards, online shopping. The term marketing mix refers to different elements within a strategy designed to create demand for a product (Anderton, 2008; 324). Considering of the marketing mix right for the products means all the important bases are covered in the marketing campaign and it will help the companies gain more profits. This market structure creates both advantages and disadvantages. The lower price and the creative services are the advantages, but in the oligopoly market, the collusion between the companies will have detrimental influence upon the consumers. In oligopoly market consumers can enjoy a lower price for the products. Most of supermarkets in the UK sell the products from the same grocery brands, such as Kellogg’s, Heinz and Walkers Crisps (Which, 2007). The products which be sold in different supermarkets are the same and we called it homogeneous. Mysupermarket (2010) illustrates that the same products in different supermarkets have a similar price. Thus, it means that all the supermarkets need to pay almost the same cost of the products. The larger companies might pay slightly lower than the smaller one, because the quantity of the goods which the larger companies need to buy is more than the small companies so that larger companies will have a bigger discount. The lower cost help the larger supermarkets have superiority in the low price to attract the consumers. Because of the oligopolistic market, all the companies compete on price so that different companies take different measures appeal to the consumers. Figure 2 is a kinked demand curve and it assumes that a firm will reduce its price if a competitor starts a price war, but will leave price unchanged if a competitor raises its price. Thanks for the oligopoly structure, price is rigidity. Tesco promotes the discount coupon to the consumers and they can use these coupons to save their money while they buy goods in Tesco (Couponmountain, 2010). Discount coupon appeals consumers to shopping in this supermarket, thereby making the contribution to marketing. BBC(2006) reports â€Å"Supermarket Sainsbury’s is to sell more than 500 of its own-brand products in compostable packs instead of plastic as it seeks to cut packaging waste†. Sainsbury’s uses new packing way to pack the organic fruit and vegetables. This can reduce the cost of products and it is also a good way for the environment. Providing the low price is in the best interests of consumer.

Hardware Infrastructure in Any Big Business or Federal Organization Research Paper

Hardware Infrastructure in Any Big Business or Federal Organization - Research Paper Example Project Objective: The project’s objective involves the identification of several needs and difficulties encountered during the process of managing information and Technology infrastructure basing on several factors. This involves the scope of the project together with the assigned deliverables. Factors to consider include technology comparison, financial budgeting, inventory assessment, and associated costs. Deliverables: 1. Determine efficiency of an organization’s resources 2. Determination of the reliability of an organization’s current assists 3. Determine the cost of infrastructure upgrade Milestones: The completion of the project has to take place before 2016. According to Chambers (2015), the instantaneous events associated with the IT project include; 1. Permits Approved- 20th October 2015 2. Assets inventory Taking – 20th October 2015 3. Determination of costs involved in supporting and maintaining hardware – 20th November 2015 4. Evaluation of probably available technology – 30th November 2015 5. Making of the financial budget – 5th December 2015 6. Final Inspection – 30th December 2015 Technical Requirements: The project considers many technical issues so as t successfully attain the desired objectives. The technical aspects touch on the availability, reliability, and the performance of the project (Ambler, 2004). 1. Determine the challenges of changing old/Obsolete Information Technology hardware infrastructure 2. Renew the IT infrastructure with an organizations budget

Assignment Example | Topics and Well Written Essays - 1750 words - 2

Assignment Example Having majored in finance, I am looking forward to build my own business and apply my learned knowledge in my business. I am a hard working person who would like to excel in the real estate sector. In this document, I offer my statement for long-term career goal, personal development, vision, mission, professional development, self assessment, description of my business dreams, and strategic professional development. Direction-mission, vision, values In order to stay focused in realizing my personal and professional ambitions, I have taken time in preparing my goal statement. My strategic plan is to ensure efficiency and effectiveness in all my personal and professional endeavors. I am well informed that without a proper goal statement and strategic plan, success in personal life and work can not be realized. Goal statement helps in figuring out what companies or industries a person is interested in. A long-term goal statement help in figuring out what one needs to accomplish in thei r career. For my sake, I am focused on starting and developing my personal business. I have a vision of starting a personal business in real estate. In order to be successful in my business plans, I must focus on self evaluation and development planning to enhance my capacity in realizing my long-term goal. It is essential for each person to know what he/she want to do in order to attain success. Knowledge on the strategies and approaches of gaining success is also essential in personal and professional development. External environment The Location of my indented real estate business will be at San Francisco. This is a perfect location due to the overwhelming market of real estate business in the area. For me, the weather and business environment in San Francisco is favorable for my personal and professional development. I like the warm and humid atmosphere of San Francisco. The good geographical environment and climate will help productivity and quality of my work. This is both fo r personal development of mood as well as availability of market. The geographic location is very suitable for diverse employees. Internal environment Luckily for me, I am well aware of what I want to do. I am also well aware of how to attain success in my personal and professional endeavors. My interests are in real estate business. Being a major in Finance, I will be able to successfully manage my business firm. I am a very outgoing and hardworking person who will be able to relate well with other business partners, employees and customers of all levels. I am very outgoing and able to interact with people of all backgrounds in a humble manner. Combination of these character traits with my knowledge in finance will make me succeed in real estate business. The first and fore most fundamental step in my long-term personal and professional development plan is gaining a degree in finance. Academic knowledge is of great importance in realizing my professional career objectives. I am ful ly aware that it is fundamental to get my feet wet in many areas so as to attain success. This will help me in furthering my knowledge, skills and understanding in finance. I am planning to apply for different positions of internships in finance and real estate. This will offer me the necessary preparations needed in real estate industry. By attaining my education and internship, I will be able to gain the necessary experience on different aspects of

Dark Stars and Mythological Planets :: essays research papers

Dark Stars and Mythological Planets One of the most interesting and controversial discussions among the astronomical community today is the possible existence of a brown dwarf star just beyond our solar system that might have large planetary bodies in elliptical orbits around our sun and the brown dwarf star. If such a celestial body exists many anomalies in our local solar system could possibly be explained, also if such a body exists there could be planets with elliptical orbits in our solar system that could take thousands of years to complete. This could possibly explain the major planetary changes that have occurred at long intervals throughout the geological history of our planet. This new discovery by the astronomical community has spawned numerous groups of people that are linking this brown dwarf sun hypothesis to ancient human texts in an effort to explain current global weather changes and possibly an impending catastrophe following a planetary body that will pass close to the earth in the next few years . I believe it is very plausible that we my share our solar system with many celestial objects that still remain undetected but personally do not agree with these radical groups and their attempts to link ancient texts to modern scientific discoveries. Recently NASA (National Aeronautics and Space Administration) has discovered a 10th object beyond Pluto with a highly elliptical orbit, ?The most intriguing idea is that there might be another world as big as Earth, a gravitational bully lurking in some unexplored corner of the solar system. Here's the problem: Scientists can't figure out how Sedna, which is about three-fourths as big as Pluto, came to have such a strange orbit around the Sun. Sedna's path is highly elliptic. It ranges from 76 astronomical units (AU) when it is closest to the Sun to 1,000 AU when it is farthest. One AU is the distance from Earth to the Sun. "How on Earth could anything get into an orbit like that," wonders astronomer Brian Marsden. He suggests another sort of Earth might have had something to do with putting Sedna on its current, odd course.? (?Sedna, space.com?) ?The new planet, which is yet to be formally named, is at least as big as Pluto and about three times farther away from the Sun than P luto. It is very cold and dark. The planet was discovered by the Samuel Oschin Telescope at the Palomar Observatory near San Diego, Calif.

Ict Impact on Accounting Essay

Introduction  The purpose of this commentary is to explore how information and communication technologies (ICT) have forever changed many aspects of business and accounting practice and, as a result, offer new and exciting research opportunities to accounting professionals and academics. In today’s computerized, interconnected, global business environment, the accounting profession must deal with a host of complex issues that never existed in the past—for instance, how to capture and record new business transactions and events, develop value-added business and information processes, create new value-chain and supply-chain opportunities, disseminate useful knowledge to a wide array of information consumers, and provide assurance services across the entire spectrum of economic activities reflect some of the more compeUing topics of interest. Accounting researchers can add value to the profession by investigating these issues, among others, and presenting scientific results in a clear and understandable fashion to practicing accountants. An important message of this commentary is that researchers in accounting information systems (AIS) and other areas of accounting, such as financial, auditing, tax, and managerial, should work together on projects, as each party can learn a great deal from the other. Synergistic relationships arising from such teamwork hold great potential to yield high-quality research results that can have notable impact on the accounting profession. THE NEW BUSINESS AND ACCOUNTING LANDSCAPE Over the past centuries, business practices and accounting procedures developed and matured a great deal, yet at a relatively predictable, slow, and controlled rate. We stand squarely, proudly, and respectfully on the broad shoulders of those who came before us, as their guidance, wisdom, and insight masterfully steered us to this place and time in the profession. However, in the apparent twinkling of an eye, ICT has disrupted our peaceful existence by radically transforming the manner in which ^^ Accounting Horizons/March 2002 business is conducted across the world and alerting us to the many challenges that lay ahead. How Technology Affects Business Practice There is little doubt that ICT has contributed immensely to the magnitude, speed, and acceleration of change in business practice over the past three decades. Rapid changes in the business world place immense pressure on business executives to stay ahead of the competition hy leveraging ICT to dramatically and continually redesign business processes and models. Using ICT to Create a Digitally Integrated Entity Figure 1 depicts an ICT infrastructure that envelopes and permeates the inputprocess-output value chain of a business entity. Encapsulated by this ICT infrastructure, digitally integrated business entities capture economic events as they unfold, process information with instantaneous speed and ubiquitous availability, and disseminate valuable decision-making information and knowledge throughout the organization. The blending of ICT and business process integration manifests itself in enterprise resource planning (ERP) systems, which serve as the foundation for linking multiple, related business entities into integrated supply chains. Using ICT to Integrate the Conventional Supply Chain When related entities link their internally integrated information systems to one another, the value ofthe interconnected network potentially becomes greater than the sum ofthe participating firms* isolated systems. The supply chain illustrated in Figure 2 depicts how a digitally integrated business environment might look, assuming that conventional relationships among upstream and downstream partners remain intact. Suppliers can monitor upcoming production schedules of manufacturers to ensure that the proper amount and mix of raw materials arrive on time where needed. Upon receipt of raw materials, the manufacturer could send electronic payment to the suppliers. Conversely, the manufacturer might look upstream to ensure that primary and secondary suppliers have sufficient capacity to meet its upcoming production demands. Looking  downstream, a manufacturer can monitor inventory balances and movement patterns ofits product hnes to ensure that distributors have sufficient quantities of products on-hand. When new patterns emerge, for instance the activity rate for product A increases significantly for distributor X but decreases for distributor Y, the manufacturer can adjust its production and shipping schedules accordingly. Looking further downstream, distributors can monitor shelf patterns at retail locations, thereby making sure that product stock-outs do not occur. Finally, retailers can monitor changing consumption patterns of customers and adjust product mix and shelf locations correspondingly. Using ICT to Create New Business Models When ICT first arrived on the business scene, managers initially automated existing processes, rather than envisioning how ICT could be used to conduct business in new and innovative ways. Eventually business managers hegan to understand the potential of ICT to support radical changes in internal business practices; hence, they viewed the development and implementation of ERP systems as value-added endeavors for their business organizations. To some extent, business entities are experiencing a similar evolutionary adaptation to ICT in the realm of integrated supply chains. That is, the previous example reflects how business managers are using ICT to automate existing Blending Information and Communication Technology ujitk Accounting Research 67 FIGURE 1 The Digitally Integrated Business Entity Qualitative & Business & information & Quantitative Information Knowledge / Inputs Processes Low Value High Value Value-Chain FIGURE 2 The Digitally Integrated Conventional Supply Chain Suppliers Manufacturers Distributors Retailers Customers supply-chain models. However, ICT further allows new supply-chain and business models to emerge. For example, the hybrid supply chain shown in Figure 3 depicts a scenario where manufacturers deal directly with retailers, thereby bypassing the entire distributor network. For instance, assxime that a manufacturer receives real-time inputsfromretailers, via shelf sensors and cash registers, regarding the shelf location of each product, the rate at which the product is being purchased, the types of discount coupons being redeemed, and the number of units remaining on store shelves. Leveraging on such intelligence 58 Accounting Horizons/March 2002 FIGURE 3 The Digitally Integrated Hybrid Supply Chain Suppliers Manufacturers Distributors Retailers Customers gathering, the manufacturer could monitor stocks and flows at retail stores, and continuously fine-tune its production and shipping schedules. Additionally, manufacturers and retailers could enter into agreements where manufacturers assume stocking responsibihty and retain legal title until the products are sold. A scenario of this nature, often referred to as â€Å"vendor managed inventories,† gives manufacturers greater control over their  products, while reheving financial and human resource burdens heretofore imposed on retailers. Taken one step further, manufacturers might begin to wonder why they use retailers at all, since they can create virtual storefronts on the Web, thus dealing directly with customers and allowing for creation of the virtual supply chains illustrated in Figure 4. Such economic arrangements, legitimatised under terms and conditions specified in â€Å"collaboration partner agreements,† are very efficient, as they reduce the number of layers from suppliers and customers, thereby dramatically increasing the firm’s response time and adaptability. Last, but certainly not least, ICT offers new and exciting business models previously not possible, such as virtual enterprises depicted in Figure 5. Using this type of ecommerce configuration, a virtual enterprise can establish complex interdependencies with suppliers, manufacturers, and customers, thus offering a wide array of goods and services to consumers. The virtual enterprise is organic in nature because the structures, relationships, rules, procedures, and houndaries of business relationships can adapt to ever-changing environmental conditions. ACCOUNTING AND INFORMATION SYSTEMS—SIMILARITIES AND DIFFERENCES The emergence of ICT over the past few decades led to a new business and academic discipline—information systems (IS). Given that the vast majority of business event processing in organizations deals with accounting transactions, it is no surprise that the disciplines of accounting and IS share a high degree of commonality; yet key differences exist between the two disciplines as well. Blending Information and Communication Technology with Accounting Research 59 FIGURE 4 The Digitally Integrated Virtual Supply Chain Suppliers Manufacturers Distributors Retailers Customers FIGURES The Digitally Integrated Virtual Enterprise Similarities between Accounting and Information Systems The input-process-output value chain of a business entity sbown in Figure 1 reflects one area of convergence between the accounting and IS disciplines. For instance, both disciplines examine ways to maximize tbe efficiency and effectiveness of recording economic data, wbere issues sucb as editing and validating input data are of paramount concern. Additionally, botb disciplines investigate various approacbes to automating the immediate capture of economic events at their source as they occur via ^^ Accounting Horizons /March 2002 computer-to-computer interactions, point-of-sale applications, self-service features, and so on. Regarding tbe processing of economic events, botb disciplines seek to integrate ICT into business processes and ensure the security of corporate databases. Tbe accounting and IS disciplines also endeavor to disseminate reliable and timely information to decision makers, and advance understanding witb respect to managing business knowledge tbrougbout tbe organization, Tbe accounting and IS disciplines also seek ways to improve modeling techniques aimed at conveying semantic representations of intra- and inter-enterprise systems. Scbolars wbo engage in intellectual pursuits of this nature categorize tbeir researcb as design science. Such researcb is vitally important to tbe creation of sound â€Å"architectural drawings† and â€Å"engineering plans† for building reliable systems. Tbe accounting and IS disciplines furtber investigate issues tbat fall into the realm of social science. For insttmce, at tbe individual level, researcbers explore various ways to involve users in systems  development and implementation projects, improve decision making via decision-support and group-support systems, and create system interfaces designed to enbance tbe efficiency and effectiveness of human-to-computer interactions. At the organizational level, the ultimate goal is to create information systems tbat best leverage firm resources to maximize profitability and competitiveness, Witb this objective in mind, researchers strive to use ICT in ways tbat support business process (re)design efforts, improve intelligence gatbering, sucb as data warebouses, data marts, and knowledge bases, and produce tbe new business models reflected in Figures 2 througb 5. Differences between Accounting and Information Systems Accounting can be viewed as a specialized information system aimed at recognizing, measuring, recording, processing, and reporting economic events affecting business entities. A noticeable divergence between tbe accounting and IS disciplines centers on the economic implications of business events. Tbe accounting discipline expends a great deal of effort deciding wbicb economic events must be recognized and how they sbould be measured. Economic concerns of tbis nature are not addressed in tbe IS literature, as event and measurement rules are taken as given. Once these important issues are resolved and codified, qualified economic events must be recorded, processed* and reported. As mentioned earlier, botb disciplines investigate similar intra-enterprise issues; however, tbe IS discipline is most concerned witb technical aspects of incorporating ICT into organizations, whereas tbe accounting discipline is most interested in leveraging ICT to improve business performance wbile simultaneously maintaining effective internal controls. With respect to system design matters, accountants help to insure that sound internal controls are developed and integrated into information systems, such as (1) editing and validating input data, (2) tracking the integrity of information tbrougbout processing, storage, and retrieval activities, (3) maintaining reliable audit trails, and (4) securing operating systems, networks, software applications, and databases so tbat only properly autborized individuals bave access to financial information. To the extent tbat internal controls of this nature cannot be incorporated into tbe system, accountants must design compensating controls around the system. Regarding business process (re)design efforts, IS researcbers again tend to focus on tecbnical matters, sucb as how to build  systems tbat are adaptable to various business process models. In contrast, tbe accounting discipline focuses on developing innovative Blending Information and Communication Technology with Accounting Research 61 ways to (re)design business and information processes to improve the reliability, relevance, and timeliness of financial and nonfinancial business reporting. For example, accounting researchers might redesign business processes to incorporate a more comprehensive set offirmperformance indicators, such as balance scorecard metrics, whereas IS researchers concentrate on how to technically capture and process such input. On the output side ofthe value chain, the business vs. technical distinction between the accounting and IS disciplines emerges once again. The accounting discipline takes a â€Å"decision usefulness† approach to reporting business information. Researchers in this area expend a great deal of effort identifying the nature of financial and nonfinancial information needed by decision makers, translating critical business information into knowledge, integrating knowledge bases throughout the organization, and designing individual- and group-level decision support systems. Although the IS discipline is also involved with information dissemination, knowledge management, and decision support, IS research focuses not on content issues, but on the technical aspects of using ICT for such purposes. Business process (re)design efforts cEin extend beyond the intra-enterprise boundary to include inter-enterprise linkages, such as those represented by Figures 2 through 5. Creating and maintaining externalities of this nature beget a host of business and accounting risk issues for trading partners. For instance, because trading partners are concerned about potential business interruptions during the implementation and operation of inter-enterprise systems, contingency and backup plans must be developed and tested. Trading partners also monitor and control external transactions and agreements to ensure that all parties in the inter-enterprise network live up their trading partner arrangements, else a weak link in the chain couid have serious business and financial implications for all interdependent trading  partners. While the accounting discipline focuses on these types of implementing, monitoring, and controlling issues, the IS discipline concentrates on the technical aspects of establishing and maintaining inter-enterprise relationships. Finally, the accounting discipline provides public assurances regarding the extent to which financial statements fairly refiect the financial position ofthe enterprise and the ICT infrastructure is reliable. The information systems discipline is uninvolved with providing such assurances. These similarities and differences between the accoimting and IS disciplines form the basis for the accounting value chain, presented next. THE ACCOUNTING VALUE CHAIN The accounting value chain shown in Figure 6 adapts and extends concepts imbedded in enterprise (Porter and Millar 1985), assurance (Elliott 1994), and information (Elliott 1995) value cbains. Using the accounting value chain as a guide, this section addresses one ofthe most important questions and challenges to the accounting profession. That is, how can accountants add vEilue to business organizations in today’s computerized, interconnected, global business environment? Capturing Economic Events On the low-value end of the spectrum fall the traditioned functions of identifying, measuring, and recording accounting transactions as they pierce the boundary of the entity. Since most of these functions are routine and predictable, cleverly written computer programs can handle most of these activities. Sometimes, economic events unfold that are new or unusual to thefirmand require that a properly trained accountant intervene. 62 Accounting Horizons / March 2002 FIGURE 6 The Accounting Value Chain Implementing, Monitoring, & Controlling Externalities entifying, . Measuring & Recording Accounting Phenomena Designing. ^ Generating. Integrating \ Managing & Innovating & Integrating Business/Information / / Business Processes // Knowledge Developing, Providing & Reporting Assurance /: Low Value IT Can Perform †¢ Computerized, Interconnected, Global Business Environment High Value IT Can Assist †¢ However, on the whole, data-capturing tasks performed by accountants in the past have been supplanted by infonnation technology. Because real-time event-capturing processes are mature and reliable, accounting researchers have few opportunities in this area to add incremental value to exttint theory or practice. Processing Economic Events The next phase of the accounting value chain deals with converting data into meaningful information streams. As with input activities, computerized processing of accounting transactions is routinely automated. Reliable accounting controls are built into most infonnation-processing systems, hence the integtity of such systems is quite high. For instance, automated checks and balances, coupled with security features, can insure that data are not lost, corrupted, or altered during processing, storing, and retrieving activities. Future research in this area will not concentrate on ICT alone; rather, it will focus on how to leverage ICT to develop and integrate innovative business process models. Disseminating Business Knowledge The high-value side of the accounting value chain deals with generating, managing, and integrating business knowledge. As suggested by Elliott (2001), knowledge leveraging is the most important and distinguishing competency of professional accountants. While many information technology tools exist to assist in this regard, such as database query languages, data warehouses, and data marts, it is humans who ultimately apply reason, judgment, and interpretation to informational patterns—which in turn begets new knowledge. Accountants can play valuable roles in identifying, Blending Information and Communication Technology with Accounting Research 63 processing, and utilizing business knowledge, and disseminating such knowledge to other information consumers inside and outside ofthe organization. Developing Externalities A relatively new arena where accountants can add value to the business organizations concerns the development of external linkages to other firms in the environment. As discussed previously, business networks of this nature allow for the formation of emerging e-commerce models across value and supply chains. However, the creation of externalities evokes a host of implementing, monitoring, and controlling concerns relevant to accountants. For example, when a firm establishes digital connections with another firm, the rules of engagement must be carefully specified. That is, an exchange protocol must be agreed upon and collaborative partner agreements must detail the responsibilities, authorizations, and restrictions of each party. Once external linkages are in place, each party must monitor and control informational flows and exchanges to insure that the privacy, confidentiality, and security rights of affected parties are protected. Since the development of external digital linkages has significant internal control implications, accounting researchers face a host of new opportunities in this regard. Providing Assurance There are many new and exciting opportunities where the accounting profession could add value to managers, investors, and society through an expanded line of assurance services. The most notable, yet traditional, form of assurance is manifest in the auditor’s opinion regarding the fairness offinancialreporting. However, the heavy dependency on ITC within and across business organizations has opened doors to an entirely new line of potential assurance services. For instance, the American Institute of Certified Public Accountants (AICPA) and Canadian Institute of Chartered Accountants (CICA) considered business-to-consumer assurance in the form of WebTrust^†. More recently, the AICPA/CICA rolled out a product called SysTrust^†, which reflects a type of business-to-business assurance. Other assurance services will Hkely emerge over time, such as assurance over the quality and reliability offirms*business and information processes, located in the  middle ofthe accounting value chain, and assurance over knowledge management tools and techniques, located on the upper end ofthe spectrum. Last, but certainly not least, a new breed of e-commerce assurance service opportunities will likely emerge as firms begin to link their internal systems to one another, thereby forming unique and innovative e-commerce models. Synergistic Research Opportunities in Accounting The accounting value chain illustrated in Figure 6 provides a structure for pondering and framing a wide array of research questions for accounting scholars. The more prominent issues investigated by accounting information systems researchers are reflected in an upcoming AIS research monograph sponsored by the Information Systems Section of the American Accounting Association.’ Since most of these issues have been directly or indirectly addressed above, this section identifies representative areas where accounting information systems and other accounting researchers can collaborate on research projects. ‘ Arnold, V, and S. Sutton, Researching Accounting as an Information Systems Discipline, Information SyBtems Section of the American Accounting Association, forthcoming. ^Accounting Horizons/March 2002 Business Reporting Taxonomies The AICPA, among dozens of supporters, is involved with developing a technologybased framework to allow for the automatic extraction and exchange of financial and nonfinancial information across multiple, disparate software applications. Realization of this framework will facilitate many desired goals, such as the creation of global supply chziins, immediate dissemination of financial statements to the public, transmission of regulatoryfilingsto governmental agencies, and so on. The technology behind this framework is called extensible Business Reporting Language (XBRL), also known as the digital language of business. More infonnation about XBRL can be found at httpi/Avww.xbrl.org. In order to realize the full potential of XBRL, each data item in a corporate database must be precisely defined and related to other data items. The end result of this mapping process is called a taxonomy. For example, if all firms engaged in producing widgets agree on a standardized taxonomy for their industry and map their corporate data accordingly, then financial and nonfinancial information could fiow freely across the industry, regardless of the types of software and hardware being used by the firms. Taken a step further, if trading partner firms involved with the industry’s supply chain have access to the taxonomy, then they, too, can easily share business information. This example can be extended to a global setting as well. Research opportunities in this area seek to develop taxonomies to be used for various industries, regulatory agencies, accounting jurisdictions, supply chains, and so on. For instance, AIS researchers could collaborate with financial accountants on the development of XBRL taxonomies focused on financial reporting, including global taxonomies, and with managerial accountants on taxonomies dealing with internal reporting and supply chains. Continuous Financial Reporting In an effort to be more responsive to information consumers, publicly traded companies are considering the merits of providing financial statements on a more frequent basis than the current quarterly reporting period. Many issues and concerns arise with respect to continuous financial reporting, such what is meant by continuous (e.g., monthly, weekly, daily), how to deal with accruals, deferrals, and estimates in a continuous reporting environment, and the impact of continuous reporting on the capital market. Regarding the latter issue, financial and AIS researchers could simulate and compare various reporting frequencies, such as quarterly-to-monthly vs. quarterly-toweekly, and conduct either behavioral or experimental economic studies to investigate the impact of more frequent reporting on stock price valuations and market volatility. Continuous Assurance To the extent that continuous financial reporting becomes a reality, the accounting profession must deal with the concomitant demand for continuous, or at least more frequent, assurance. The potential research issues in this area include: (1) the type of assurance to render—audit or review, (2) the marketplace demand for continuous assurance, (3) the impact of continuous assurance on the audit process, and (4) ways that audit firms can leverage ICT to render an effective yet efficient audit under these circumstances. For example, auditing and AIS researchers could collaborate on projects investigating the efficacy of various types of ICT, such as embedded audit modules, for monitoring client transactions and activity levels and insuring that firms  do not change financial information on their Internet sites eifler the auditors have provided assurance. Blending Information and Communication Technology with Accounting Research 66 Quality of Earnings The possibilities of continuousfinancialreporting and related assurance beget questions concerning quality of earnings. For instance, to what extent will more frequent reporting affect a firm’s ability to manage earnings since accruals, deferrals, and estimates must be more closely tied, in real-time, to related economic events? Could a credit sale transaction captured at a cash register include estimated allowances for doubtful accounts and returned goods based on a percentage ofthe sale amount? Will more continuous assurance affect the nature and extent of earnings management attempts if the firm believes that auditors are more likely to detect such activity in a continuous assurance scenario? AIS and audit researchers can certainly team up to tackle such issues. Market Value of Accounting Systems The impact of ICT on accounting systems has evolved from fairly simple general ledger applications to extremely complex ERP systems. When firms adaptfromone type of system to another, they typically incur huge outlays offinancialand human capital. Questions arise regarding the underlying value of embarking on enormous capital projects of this nature. One aspect of â€Å"value† can be viewedfromthe perspective of investors. For instance, how do investors respond when a firm announces that it plans to adopt an ERP system? While this question deals with investors’ initial beliefs regarding ERP adoption, a follow-up question could focus on the extent to which ERP systems actually improve firm performance over time. Recently, AIS and financial accounting researchers joined forces to examine the first question (Hayes et al. 2001). Reading a study of this nature can help AIS and non-AIS researchers envision the end result of such collaborative efforts. Internal Value of Accounting Systems In a similar vein, researchers could investigate the value of enterprise-wide information systems to internal decision makers and business processes. For example, to what extent do ERP systems improve the timeliness, reliability, and  relevance of decision-making information throughout thefirm?Do enterprise-wide systems offer a realistic framework for creating value-added data warehouses and data marts? To what extent can the firm attribute quality improvements in critical success factors, such as services, products, processes, and morale, to enterprise-wide systems? AIS and managerial accounting researchers could collaborate on these and related issues. Decision Support Systems Advances in ICT facilitate the development of a host of potential decision-support systems at both the individual and group level. For instance, decision-support systems can be developed to help design effective internal control structures, configure optimal business processes, and assess business and audit risks. Issues such as interface design, information content, training value, and user reliance are some ofthe more fruitful areas of inquiry. Depending on the context ofthe proposed decision support system, AIS researchers can work with financial, managerial, tax, and audit researchers. Knowledge Management One of the more promising areas of value creation for oi^emizations is to capture, store, process, and disseminate business knowledge. Firm- and industry-spedfic knowledge is accumulated over time on key issues such as research and development, marketing strategies, customer relations, process quality, and so on. A â€Å"best practices’* knowledge base dealing with topics of this nature can be developed so that institutional 66 Accounting Horizons /March 2002 knowledge can be transferred across persons, settings, and time to facilitate organizational and individual learning and growth opportunities. AIS and managerial researchers can investigate critical design issues in knowledge management systems and ways to encourage employees to rely on such systems as electronic colleagues. Risk Assessm.ent and Management When firms switch from one accounting system to another, say from a traditional general ledger system to an ERP system, the nature and extent of business, internal control, and audit risks can change considerably. For instance, ERP systems are more likely than general ledger systems to cause business interruptions due to the tightly integrated nature of ERP systems coupled with programmed workflow automation from one business process to another. In addition, security risks are often heightened with ERP systems, since corporate information is stored in a relational database and a compromise ofthe database, via viruses, hackers, employees, and the like, can ripple throughout the organization. Company managers and internal and external auditors must be aware of risk differentials across accounting systems and revise contingency strategies, internal controls, and audit plans accordingly. AIS, audit, and managerial scholars can develop projects aimed at delineating risk profiles of various technology-based accounting systems. Once unique risks are identified, AIS and audit researchers can examine the extent to which external auditors are aware ofthe unique risks posed by different systems and how they either do or should adjust audit plans in response to differential risk profiles. A recent study by Hunton et al. (2002) represents an example how AIS and audit researchers are working together in this area. Systems Reliability Assurance The new SysTrust^† assurance service proposed by the AICPA/CICA holds great potential as a revenue generator for CPA/CAfirms.SysTrust^† attests to the rehability of a firm’s information systems. For example, company management would make assertions about one or any combination ofthe following reliability dimensions of its information systems: availability, security, and integrity and maintainability.^ Additionally, management can narrow the scope ofthe system to which the assertions apply, such as accounts receivable only, all financial applications, or the entire ERP suite of applications. Then, independent auditors are hired to test for compliance with stated assertions and offer related assurances to the public in the form of an opinion. A firm could voluntarily request a SysTrust^† engagement to provide comfort to current and potential trading partners, or a potential trading partner might demand that the other partner receive such assurance before entering into a contractual arrangement. AIS, audit, and financial researchers can collaborate on projects designed to investigate various issues, such as (1) the perceived value of placing assurance on various combinations of systems reliabihty dimensions, (2) how companies and audit firms can conduct cost-benefit analyses of SysTrust^† engagements, and (3) risk factors affecting the market demand for systems reliability assurance. These four dimensions of systems reliability represent the four principles of SysTrust^**. Blending Information and Communication Technology with Accounting Research 67 SUMMARY As highlighted throughout this commentary, information and communication technologies have radically transformed the nature of business and accounting practice. Accordingly, the manner in which accountants can potentially add value to economic entities and society is undergoing a metamorphosis. As suggested by the accounting value chain shown in Figure 6, many traditional accounting tasks dealing with recording and processing of accounting transactions can be reliably automated. Thus, accountants add little incremental value to organizations in this regard anymore. Rather, an accountant’s worth is now reflected in higher-order critical-thinking skills, such as designing business processes, developing e-business models, providing independent assurance, and integrating strategic knowledge. Many of the research issues reviewed in this commentary are interlaced with related topics in financitd accounting, auditing, managerial accounting, and taxation. Methodological approaches used to investigate accounting information systems research questions, such as scientific modeling, archival analyses, and behavioral experiments and qualitative inquiries, are also common across accounting domains. Given such complementary interdependences, the academic community would be enriched if AIS scholars were to collaborate on research projects with other accounting reseairchers, where possible, as resulting synergistic relationships will most certainly produce highquality, relevant studies that could drtimatically shape the future of the accounting profession and business practice. REFERENCES Elliott, R. K. 1994. Confronting the future: Choices for the attest function. Accounting Horizons 8 (3): 106-124. , 1995, The future of  assurance services: Implications for academia. Accounting Horizons 9(4): 118-127, . 2001. A perspective on the proposed global credential. Accounting Horizons 15 (4): 359372, Hayes, D,, J. Hunton, and J. Reck. 2001. The impact of ERP announcements on stock prices. Joumal of Information Systems 15 (1) (Spring): 3-18. Hunton, J., S. Wright, and A, Wright. 2002. Unique internal control issues in ERP environments. Working paper. University of South Florida, Tampa, FL. Porter, M. E., and V, E, Millar. 1985. How information gives you a competitive advantage. Harvard Business Review 63 (4): 149-160.

Analysis Of Terrorism In Night By Elie Wiesel - 984 Words

Elie Wiesel is an author who spent his teenage years as a prisoner in a Nazi Camp as a German Jew, oppressed by Nazi terrorism. These events were documented in his personal memoir, Night. After the events of 9/11, as an attempt to raise awareness for terrorism in the society, he writes an article, â€Å"How Can We Understand Their Hatred†. In his article, he compares the terrorist and his/her acts of terrorism with a fanatic. In his words, a fanatic is an obstinate person who is immune to doubt and to hesitation. He or she cannot solve a problem with rational thinking and takes advantage of the weaknesses of people such as women. A fanatic does anything possible to achieve his/her goals even if it includes acts of hatred such as crashing†¦show more content†¦Because of this, it would make no sense for the fanatic to continue to perform acts of hatred in the society. In an example from Wiesel’s personal memoir, the protagonist, Eliezer witnesses the â€Å"smal l faces of the children whose bodies I saw transformed into smoke under a silent sky†(Wiesel 34). Eliezer and the other folks outside the crematorium, witnessed the mass death of young children though they remained silent. Because Eliezer and the others just stared at the crematorium, the Germans had no one to stop them from burning the Jewish children. This is a classic example of how a fanatic can go to extreme goals to get what they want and do not get stopped by society. The goal of the Nazi’s was to torment the Jews living in Germany. Building upon the previous point, Wiesel argues that the way we can raise awareness toward the hatred and their fanatic actions is by educating the society about the acts of hatred that are occurring both in the past and present to educate them so it helps prevent them from happening again.. On the other hand, the society must also learn to accept the acts of hatred caused by the fanatics. The author argues â€Å"We have witnessed the downfall of Nazism, the defeat of fanaticism, and the abdication of communism. But fanaticism is still alive†(How Can We Understand Their Hatred par.13). Fanaticism is still an issue in society that still lives on and will live on for the generations to come as it is spreading rapidly around in modernShow MoreRelatedPerseverance Analysis. Many People Suffer Problemsin The1228 Words   |  5 PagesPerseverance Analysis Many people suffer problems in the world today. This includes terrorism and tyranny. It includes kidnapping and hate crime. It can also be cancer and starvation. Many have lived through problems like these and told the tale because they persevered. Through Hillenbrand’s Unbroken, Wiesel’s Night, and Lee’s To Kill a Mockingbird, perseverance is emphasized the readers by writing about characters, whether they are survivors of the Holocaust, a prisoner of war, or family

Joseph Smith’s Polygamy (Book Review)

Joseph Smith, the founder of the Latter Day Saint Church, is one of the most, and probably the most controversial religious figure of American history; and his practice of polygamy, something unheard of in all other Christian denominations, is what mainly contributed to the scandalous nature of this person and religion he founded. Brian C. Hales, although an amateur historian, has written what is likely to be the most comprehensive work on the subject: an enormous 3-volume research about 2500 pages long. Himself a member of LDS, Brian Hales has been deeply interested in the history of Mormon polygamy for a long time, but found out that there was no scientific work that would combine all that is currently known on the subject; and thus he decided to create such a book himself. As a result, we have a work based on carefully cited and well-documented sources concerning Joseph Smith and his family, with extensive footnotes that would interest those who want to check the facts. In other words, Joseph Smith’s Polygamy is very likely to become the book future researchers are going to cite when writing on the subject. At the same time, the book will not only be interesting for academic historians, but for everybody who is interested in the history of LDS and Mormon polygamy in particular. However, it is hard to recommend it to those only casually interested in Mormon history – although it is extremely well-documented and presents a very clear picture of Joseph Smith’s life, this book presupposes that you already have some understanding of the topic – enough to benefit from the new ideas introduced by Hales. In addition to that, there are summaries that would be helpful for those who want to learn the bare essentials on the subject without trudging through all the excessive footnotes, sources and fact comparisons. However, if you are not interested in a detailed study, why bother dealing with this book at all? There are other, more general historical works about Mormons that would make a better choice for beginners, like Richard Bushman’s Rough Stone Rolling. The topic of early Mormon polygamy is too complicated, confusing and misleading for an outsider to learn anything of importance from such a specialized work. Polygamy is a very sensitive subject for modern Mormons – many well-meaning members of this church find it to be the stumbling block to faith, something that is hard to accept coming from the alleged prophet of your religion. Mr. Hales does its best to tread carefully on this treacherous ground – he doesn’t assert his own opinion, instead limiting his role to presenting all the facts and alleged facts and leaving it for the reader to decide what he or she thinks about it all. This is what makes it a real historical research rather than an attempt to prove or disprove some suspicious facts of Joseph Smith’s biography. However, it is probably one of the weak points of the book as well – for some people’s taste, there is a bit too much documentation and facts and not enough research per se. Some criticists will certainly say that Joseph Smith’s Polygamy is not so much a research as a laying out of all the documents pertaining to the subject in a form readable for the majority of readers. Although Hales does have some ideas of his own – namely, the difference between ‘eternity only’ and ‘time and eternity’ sealings, some readers are likely to think that more than 2500 pages of text are a somewhat excessive way of proving a point that has a purely theological importance.