Analysis of Pericles Speeches

Although Thucydides provides a history of the Peloponnesian War, Thucydides spends a lot of time emphasizing the government and the citizens of Athens. Thucydides also focuses on the greatness of Pericles and his honest and patriotic leadership. Does this concentration on a democracy and moderate leader reveal what Thucydides sees as a just government? Throughout the text, one can see clues that a democracy is the preferred government of Athens, and the focus on Athens as the greater, swifter and more innovative power; he contradicts them with the passive, slow and cautious Sparta.This text not only acts as a historical resource but also a source that provides an example for future governments on how to run a government successfully. By looking at the speeches of Pericles, the view of Thucydides comes through. It seems that Thucydides believes in a democracy and giving the common man a voice in what happens in the city. Pericles emphasizes the greatness of a democracy in his funeral oration. Through his speech Pericles emphasizes that equality to create a free and law-abiding society.I think Pericles speaks of how there is no class consideration when considering man to be able to serve the state because he wants to stress that the most honorable man is the one that serves the state, especially in a time of war. Citizens that do not participate in the duties of public matters are deemed ‘useless. ’ The funeral oration is not just an honoring of the patriotic men that died fighting for Athens but also a call to all the other sons, brothers and fellow citizens of the honorable fallen to live a life as honorable as them.A democracy is a form of government that gives all the ability to participate, and according to Pericles everyone has a responsibility to take part. Men must put aside their petty wants and look at what is best for the state as a whole. The state as a whole can bring a lot to the people but a single person acting on their own individual interests can do little for the state. Why are there so many of Pericles’ speeches in this text? Was Thucydides giving the prime example of what a leader should be?Was the emphasis on Pericles putting a characteristic of him above those of the other men and leaders throughout the war? It is clear that Thucydides found all leaders succeeding Pericles as poor leaders. In Book 2. 65, Thucydides talks of how the leaders following Pericles were striving for supremacy, and acting according to their own private ambitions and interests. By going contrary to the moderate policy Pericles emphasized, a plan including exposing themselves to no hazards and waiting quietly while keeping attentive to their marine, the war was ultimately lost by the Athenians.Were the speeches recorded to also show how powerful a leader can be? When Athens held an assembly to determine whether they would concede to the concessions of Sparta, it was the speech of Pericles that invigorated the Athenians with confidence to declare war against Sparta. When the plague hit the Athenians and they had lost momentum in the war effort and were considering sending peace envoys to Sparta, it was a speech by Pericles that was able to increase the Athenian energy to the war.A great leader has the ability to drive the weak masses to great heights when they know they are under a first-rate leader and is told of the superiority of their state; this is seen in the example of Pericles. As a reader, I feel that Athens can win the war with their advantageous sea power, lands across the sea that Sparta cannot harm. By including the speeches of Pericles in his text, Thucydides sets an example of what is a just form of government and what makes a good leader in a democracy.

Biographical Data

This paper intends to answer the following questions: 1) Where can a manager find biographical data about an employee? 2) What can biographical data tell a manager about their employees? ; and 3) What can a manager do to get a compatible ability-job fit? It also aims to provide examples to support the answers. Where Can a Manager Find Biographical Data About an Employee?A manager can always look for credible biographical data with regards to an employee by requesting such information from the high school or college he or she attended (HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories, 2001, n. p. ). In addition to that, employment records may also be looked into since one’s former employers are the ones who may convincingly attest to the employees’ behavior, consistency, truthfulness, flexibility, as well as, one’s ability to think critically (HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories, 2001, n. p. ).Furthermore, special requests to look into court records may also be carried out to check if the employee has been or has not been involved in a crime; this will guarantee an employee’s character (HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories, 2001, n. p. ). The same is true with credit history; if an employer knows about this then he will also know if one may be trusted, for instance, in terms of finances or monetary handling (HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories, 2001, n. p. ).Last but not least, if a manager wants to know a bit more about personal qualifications or characteristics of an employee, then he or she may always look into the recommendations provided by the employees’ friends since they are the ones who know the real personality of the employee (HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories, 2001, n. p. ). What Can a Biographical Data Tel l a Manager About their Employees? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Reference HR Guide to the Internet: Personnel Selection: Methods: Biographical Inventories. (2001). Retrieved April 11, 2008 from http://www. hr-guide. com/data/G313. htm

Maritime bussines Essay Example | Topics and Well Written Essays - 2000 words

Maritime bussines - Essay Example The international trade remains successful first of all because of the improvement in marine transportation (The Long History of Shipping Company). However, besides the advantages, recent global changes also brought some problems and changes shipping organizations have to solve and adapt to. The given paper will discuss the issue of adaptation in relation to shipping organizations. The main stress will be made on the necessity for such adaptation. These advices on success and adaptation might serve as a model for shipping organizations, which go through difficult times. Notwithstanding that shipping organizations sometimes have problems they are very successful in development and their business is thriving. The typical problems frequently met by the companies are delays in delivery, problems with documents, and problems with communication. Information technologies development made it possible for shipping companies to control the ships and provide the needed level of security. Â  Today the main task of shipping originations is to adapt to the developing of new technologies, especially in creating new systems of controlling and spreading the data. Modern shipping organization needs a modern database to track the information, and thus having correct information is the key element of the successful functioning of the company. The absence of a good database in any shipping organization might even indirectly lead to its closing, and much has already been said about it. Any organization needs the ability to adapt to the changing environment, as it is always influenced by the limited resources and increasing competition. Only a few organizations are able to develop a strong plan of adaptation looking for opportunities of modernizing their techniques and making marketing strategies work effectively. Shipping company should be was mainly concentrated on the issue of information technologies,

Case character Conceptualization Research Paper

Case character Conceptualization - Research Paper Example Nash being a genius mathematician becomes devastated and withdraws himself from society. In this essay an attempt would be made to analyze the case and find a probable solution by making use of the ‘Cognitive Behavioral Theory.’ Presenting the Problem Nash had a mental health problem, schizophrenia, which had surfaced during middle age and stood as a stumbling block between his work and family. The gravity of the problem increased so much that Nash had to leave his job as a professor and eventually became institutionalized. His wife and his roommate Charles stood by Nash, as the depths of his make- believe or imaginary world surfaces. The precipitating set of circumstances could have stemmed from the fact that he was frustrated about not being able to come out with something unique in the mathematical arena, being a Math prodigy himself. His actions of arrogance and anxiety showed the extent of his stress and suffering. This problem had never occurred before but manifest ed itself when he could not accept his failure. He suffered a harrowing experience for many years to come to terms with himself and finally during the 1970’s he makes his foray into the world of academics by returning once again to teaching and research. Relevant History Nash being a Mathematical genius had always aspired to create something original and unique that would be useful to society and the world at large. However, when his attempts failed to materialize, he withdrew himself from social circles and became a recluse in his own world. His obsession about making a significant contribution towards the subject of Math and the failure to achieve it had probably triggered his schizophrenia and led to his institutionalization. As a patient he exhibited his anger and frustration through his actions because he was trapped in a helpless situation. However, his wife Alicia did not give up on him and stood by him all through his suffering years because she had great faith and tr ust in his capacity as an outstanding Mathematician. Interpersonal style When Nash realized that he had failed in his attempt to make the unique contribution towards the subject he loved so much, it affected him so badly that he withdrew himself from social circles and led the life of a recluse, till he could function no longer and had to be institutionalized. It was the faith and love of his wife Alicia together with medical help that gradually brought him around from the depths of his misery, to once again surface back to normal life and finally win the much coveted Nobel Prize for his great contribution towards Economics in 1994. Alicia is steadfast in her duty as a loyal wife and brings about her husband’s redemption by helping him triumph over his misery and make a success of himself by winning the Nobel Prize. In this case there were polarities related to pursuit, withdrawal and submission. These polarities can be explained thus – Nash tried hard to pursue his dr eam of doing something original and unique in the field of Math, being a Math genius himself. When he found that he could not succeed he became frustrated and withdrew from society. Finally, with great support from his wife and close family and friends, he admits submission and was soon on the road to recovery which eventually helped him to fulfill his long lost dream of making a signific

Describe an imaginary place that young children would enjoy.Write the Essay

Describe an imaginary place that young children would enjoy.Write the description so readers can visualize as they read - Essay Example The maids bring them whatever they wish for. They take the children to swings and play games with them. The garden is followed by a huge row of palaces made of pearls and gold. They are made for kind and gentle people to live in who are all dressed in crimson. As children pass by them, they welcome them and offer them to come into their palaces. The palaces have jewels scattered all over and the children jump and play with joy. The sky is full of colors, and there are rainbows of striking colors which no one has seen in this world. The children can touch the rainbows and climb over it waiving at each other with amusement. Lovely parrots and pigeons fly over them singing songs in their sweet voices. The children then jump over the soft clouds which offer them cozy beds made up of water vapors, on which the children lie down to take the sweetest sleep they can ever get.

Book Report on Playing the Enemy by John Carlin Essay

Book Report on Playing the Enemy by John Carlin - Essay Example Uniting the blacks and whites in South Africa was considered a lost cause by many people, because the divide did not only center on colour, but culture as well. The whites had a more Western-influenced culture than the blacks who clearly embraced their traditional African roots. This was the challenge that Nelson Mandela, a black South African president faced. But he, being a man who rarely gave up, knew that if there was a God in heaven, then there was hope for unity, no matter how tall the obstacle is. With this, he took upon himself to find a way to unite the two camps of humanity that shared the same land. For he too believed that, as long as we both live in the same land, â€Å"your freedom and mine cannot be separated† (Carlin, 2008, 23). The book reveals that Nelson Mandela decided to make his move in a rugby game because rugby was one of the favourite recreational sports for the white South Africans. It was a sport the blacks did not take much part in, for they deemed it a white-man’s game. But despite this, there is some influence that sports can exert to people. It has the ability to make friends out of enemies, because it helps them come together to cheer for a common interest. Carlin (2008, Page 163) showed belief in the power of sport when he mentioned Mandela’s statement, â€Å"let us use sport for the purpose of nation-building and promoting all the ideas which we think will lead to peace and stability in our country†. The team in focus were the Springboks, the then national rugby team of South Africa. A significant number of people can be found who believe that, that team was one of the best rugby teams the nation ever had. But though it represented the nation, it was entirely composed of white men, and as expected, the audience was mostly whites. Strangely, Mandela saw this as a ripe field to promote his agenda. But this was no walk in the park for the great man. He would have to gather all the charm and charisma he had amassed during his 50 years of activism, and his strategy demanded a cause all South Africans could support. His strategy was pure genius. He agreed to host the 1995 rugby world cup games in South Africa. In addition to this he endeavoured to inspire the black South Africans to develop an interest for the sport. Although not fully successful in this endeavour, he managed to get enough blacks onto his bandwagon to ensure that his plan would work out smoothly. For the Springboks, they were facing one of the giants of the sport, the gargantuan New Zealand All Blacks, a team whose unparalleled success and discipline spoke for itself. This was no easy game for the Springboks and they knew it very well. Their chances of winning were small, but greater still, their chances of winning the hearts of their black countrymen were much smaller. Carlin specified some prominent men that contributed in making that day eventful. The first individual is Francois Pienaar the six foot Captain of th e Springboks. The other one is, Linga Moonsamy, Mandela’s top bodyguard on that day. Other prominent figures are, Niel Barnard, who was once the head of the intelligence services during the apartheid-era, and Justice Bekebeke a man that had spent a significant amount of time under death sentence for committing murder, and Desmond Tutu who is revealed

The ban on smoking in public places Essay Example | Topics and Well Written Essays - 1750 words

The ban on smoking in public places - Essay Example Even then researchers had concerns about the hazards of smoking as they pertained to second hand smoke and people who inhaled it(Comfort pp 14). Commonly referred to as passive smoke, those who were around smoke without actually smoking themselves soon proved to have several definitive health risks associated with being near the smoke and inhaling it through passive (second hand methods). â€Å"Medical concerns about the dangers of passive smoking--inhaling other peoples tobacco smoke--can be traced back to the 1920s, and there is also now a widespread consensus that such passive smoking can cause disease. Other peoples tobacco smoke, either from the burning tip of a cigarette or the smoke that is exhaled by the smoker, is classed as a known human carcinogen by the US Environmental Protection Agency(Comfort pp 14). â€Å" For the most part public place for the purpose of legislative ban incorporated any â€Å"enclosed or semi-enclosed area that members of the public have access to which provides a business or a service including workplaces, buildings and public transport(Comfort pp 14). â€Å" â€Å"Direct benefits revolve mainly about respiratory health, and regular exposure to smoke may trigger asthma in infants and young children. The indirect benefits to young peoples health associated with smoke-free policies is seen to relate to the general reinforcement of the messages that non-smoking is now increasingly the norm within the community and would thus help to promote non-smoking lifestyles in future adult generations(Comfort pp 14).†

What does a particular scene tell us about the songstress-character Essay

What does a particular scene tell us about the songstress-character - Essay Example During our research we used the information concerning the topic from different books and articles as for example: the book by Emilie Yueh-yu named China. The International Film Musical; Primitive Passions: Visuality, Sexuality, Ethnography, and Contemporary Chinese Cinema by Rey Chow and the Film history: an introduction by Kristin Bordwell, David Thompson. These books describe different aspects of the Chinese filmmaking in general; the Yueh-yu’s book reveals some important peculiarities of the songstress Grace Chang and the image of Deng Sijia created by her in the film The Wild, Wild Rose. Also this essay includes our own thoughts concerning the Deng Sijia’s representation (behaviour) and its resemblance to the typical Hollywood films. The film under the study resembles more American than Chinese style of the main character’s representation. The author Rey Chow gives a critical point of view to the Chinese filmmakers who create their works imitating the American ones (Chow Rey, 1995). So the given film is obviously one of those who fell a victim to such a criticism. And agree with the Chow’s point of view. Emilie Yueh-yu in her turn claims that: â€Å"From the beginning, musicals in China were entangled with Western forms and thus unlikely to qualify as national cinema, despite the importance of opers and popular songs in Chinese life† (Yueh-yu. 2012). To my mind, the songstress, in that part where she sings the song The  Merry Widow, shows us one of the most vivid examples of the American-style behaviour. She is trying to seduce a young pianist by touching his face, laying her hands on his shoulders and carelessly playing with his hair. She also uses all her feminine power to draw the pianist’s attention; she dances around the piano, graciously sways around her beloved man. So, we can say that the behaviour of the Wild Rose is quite unusual in comparison with that one which is typical and considered to be normal for the Chinese

Relationship between money supply and the inflation Essay

Relationship between money supply and the inflation - Essay Example However, when the government securities are purchased from the market, central bank actually inject money into the market thus increasing the money supply in the economy. (Mankiw, 2008) Another important method through which money supply can be controlled in the economy is the adjustment in the discount rate. Discount rate is the interest rate at which central bank lends to other banks and is also serves as the primary rate in any economy. When discount rate is increased, central bank therefore invariably makes it difficult for the households and firms to obtain the obtain money at relatively cheaper rates thus making borrowing costly. A decrease in the discount rates otherwise because by reducing the rate, central bank makes it easier for the firms and the households to borrow money easily. (Sloman, & Garratt.2010). Inflation and money supply Inflation is an increase in the general price level in the economy and signifies a reduction in the purchasing power of the money. Normally in flation is measured through a consumer price index where the prices of a fixed basket of goods and services are compared with the prices of the same basket of goods and services at a give base year. An increase in the prices as compared to the base year therefore is considered as an increase in the inflation and hence erosion in the purchasing power of money. A decrease in the purchasing power would mean money would buy fewer things. (Krugman & Wells, 2009) According to the classical economics, an increase in the money supply actually does not result into an equal increase in the aggregate demand for goods and services. As such any change in the money supply will... This paper outlines the relationship between aggregate money supply and the growth of the real GDP and overall level of prices in the economy. One of the central debates in monetary economics rests upon the neutrality of money and whether money can actually result into the development of price increase or not. This debate is also based on the notion that the central bank of a country actually does not have any role in contributing towards the economic growth because money actually remains neutral and does not result into the growth. Moreover, it is argued that the higher money supply can result into higher prices and thus if money supply is increased, it will create inflation in the economy and will hurt the real economic growth. This is because of the fact that higher inflation level decreases the purchasing power of money quickly. In order to achieve objectives of the economic growth and price stability, central bank adapts different tools and techniques which help it to control the money supply in the economy. One of the most commonly used methods is the open market operations under which central bank actually purchases or sells the government securities in the market. Another important method through which money supply can be controlled in the economy is the adjustment in the discount rate. According to the classical economics, an increase in the money supply actually does not result into an equal increase in the aggregate demand for goods and services. Classical economists also argue in such situation an increase in the money supply would result into inflation. At the full equilibrium level, a positive change in the money supply would result into inflation and the negative growth rates.

Computer Motherboard (Descriptive) Essay Example for Free

Computer Motherboard (Descriptive) Essay Motherboard Motherboard acts like the arteries of a human taking the blood all over allowing the blood to travel. It has many line-like structures that are like the veins and the arteries. These lines are the wires mounted on the motherboard that keep thousandths or even millions of connection. Motherboard is a small yet powerful device inside the computer system. The motherboard has three cards on it. First, the graphics card, it is like the eyes of the computer, it acts like the eye that saw and reflects images to the screen. Second, the sound card it is the mouth of the computer, it sends sound to the speaker, it shouts what the computer says. And the third, the modem, the nose of the computer. It sniffs messages from the wires coming from the telephone lines. If there’s a blood, there’s also the heart. The processor of the computer acts as the heart of the computer. It has a square-shaped chip that has many pins. It sits on the motherboard controlling all the cards including the motherboard. It controls, allows, and restricts information that is being disseminated into the system like the heart. It also has a heat sink and a fan keeping the processor cool. To be able to complete the system, it also has the brain. Hard disk serves as the brain of the computer. It is rectangular in shape. Inside it, there’s a mirror-like disk where all the information are stored. The disk spin at greater speed, depending on the information /data is being written into the disk. Motherboard is also consists of chips, transistors, and capacitors. It is the other component of the motherboard that acts like the organs of the system. These chips may be small as a grain of rice and bigger as a coin. Transistor is a small, black in color and rectangular in shape. It is sometimes recognizable because of its three metal legs attached on it. Transistors is consists of thousand or even million of IC (Integrated Circuit) packed in one part. And the capacitors are like tanks attached in the motherboard. It varies in size; it may be small, medium or large depending on the voltage and its capacitance. Motherboard is consists of millions of chips, transistors and IC’s. It acts like the body of the computer. Without it, the computer will not work. It is like the trunk of a tree. It is an amazing thing that has millions of wires attached in a small board. It is powerful and fundamental part that the computer will not work without it. Reference: * Motherboard. Retrieved from http://www. en. wikipedia. org/wiki/motherboard

Harmonisation of Accounting Standards

Harmonisation of Accounting Standards Accounting Standards are the reliable statements of best accounting practices issued by recognized expert accountancy bodies relating to various aspects of measurements, treatments and disclosures of accounting transactions and events, as related to the codification of Generally Accepted Accounting Principles (GAAP). This report presents harmonization of accounting standards, a brief history, and the achievements so far and some challenges faced by the organizations such as the International Accounting Standard Committee (IASC) that are pursuing harmonization of accounting standards. 1.0 ACCOUNTING HARMONIZATION: Many authors have put together different definitions for accounting harmonization in various ways. It would seem not an easy word to define, as neither the European Commission nor other organs of the commission have explicitly defined the concept of accounting harmonization (Christopher Nobes, 1992). Some have even complicated the whole concept, by attempting to substitute harmonization with standardization, as if to mean that the process is the same, rather than making it more compatible. In practice, harmonization of accounting tends to mean the process of increasing the compatibility of accounting practices by setting bounds for the degree of variations (Nobes, 1992). This can be accepted to be the most suitable definition of the concept. Harmonization of accounting standards has become a highly demanded issue of discussion and debate among accounting professionals around the globe. Accounting Standards are the authoritative statements of best accounting practices issued by recognized expert accountancy bodies relating to various aspects of measurements, treatments and disclosures of accounting transactions and events, as related to the codification of Generally Accepted Accounting Principles (GAAP). These are stated to be the norms of accounting policies and practices by way of codes or guidelines to direct as to how the items, which make up the financial statements, should be dealt with in accounts and presented in the annual accounts. In fact, such statements are designed and prescribed to improve and benchmark the quality of financial reporting. They bring about uniformity in financial reporting and ensure consistency and comparability in the data published by enterprises. These are aimed at furnishing useful info rmation to different users of the financial statements, such as shareholders, creditors, lenders, management, investors, suppliers, competitors, researchers, regulatory bodies and society at large(Shil et al. 2009). The process of harmonization gives the global community a single entity. The diversity of stockholding doesnt matter today if the accounting system can generate general purpose financial statements in real sense. Thus, along with the process of globalization, the awareness of investors in capital markets has increased manifold and the size of investors is multiplying. Foreign institution investors (FIIs) are investing in significant volumes globally, as also are several Indian companies through GDRs (Global Depository Receipts) and ADRs (American Depository Receipts). Hence, the need for harmonization of accounting standards has been strongly advocated globally in order to faster the economic decision-making process(Shil et al. 2009). Wallace, et al (1997) argue that the mission for international harmonization of reporting practices cannot be as easy as looking at a cash flow statement, where you identify different ways of categorizing cash flows, alternative formats of presenting cash flows from operating activities and just many other differences. In addition, several issues such as: the bad debts provision; valuing marketable securities; and the treatment of long-term contracts, can be considered specific and given particular treatment. The role of the Accounting Standards Board (ASB) for example is to issue accounting standards in the United Kingdom. It is recognised as a standard setting body in the UK for the purposes of Section 256(1) of the UK Companies Act 1985 and in Northern Ireland for the purposes of Article 264(1) of the Companies (Northern Ireland) Order 1986.(Mccallig et al. 2010). 1.1 The Need for Harmonization The increased globalisation of capital markets has resulted in a need for international accounting standards. In an increasingly globalised world, it is clear that financial statements of companies operating under different accounting management systems are not easily comparable. This has led to the need and development of the International Accounting Standards Board (IASB) whose stated objective is the development of à ¢Ã¢â€š ¬Ã‹Å"a single set of high quality, understandable, enforceable and globally-acceptable International Financial Reporting Standards (Mccallig et al. 2010) This harmonization is needed due to the globalization of businesses and services and an increase in cross-border investments and borrowings(Zeff 2011). Some of the benefits of harmonization are: It ensures reliable and high quality financial reporting and disclosures in certain cases; it can prove to be crucial to the economic and financial development of a country. It enables a systematic review and evaluation of the performance of say multinational companies having subsidiaries and associates in various countries wherein each country has its own set of GAAP. It makes the comparison of the performance of a company against its domestic and international peers easier and more meaningful. It adds to the international credibility of a company. It is a precursor for accessing international capital markets which can, in turn, reduce the capital cost and consequently, improve the performance of a company. It provides a level playing field where no country is advantaged or disadvantaged by its GAAP. (Mogul 2003) Additional benefits of a global financial reporting framework that can be achieved through harmonization are numerous and can include greater comparability of financial information for investors, greater willingness on the part of investors to invest across borders, lower cost of capital, more efficient allocation of resources; and even higher economic growth not only for companies and organizations but for governments also. 2.0 IMPLEMENTATION CHALLENGES The most fundamental of obstacles to achieving uniform practice is the size of the present differences between the accounting practices of different countries. Using the different types of classifications of accounting systems used in different countries, there are several significant differences even within the equity class, let alone between that class and the other. These differences go to the root of the reasons for the preparation of accounting information(Nobes 2001). Still, there are a couple of strong variants of accounting practices (say, for example, US GAAP, UK GAAP, IAS etc.) over the world existed and practiced simultaneously. These variants are working as threats towards harmonization of accounting practices. However, the profession has also witnessed some improvements in recent years in the process of global convergence putting some ray of hope. International and even local standard setting bodies have come up with projects of harmonization and in most of the cases became successful. The day is not far away when we will observe that accounting world is controlled and guided by a single set of standards giving it a status of legal discipline in true sense(Shil et al. 2009) Implementation challenges at the international and national levels of the objectives of an improved and harmonized reporting system being achieved are still evident. For example the question of how the IASB should cope with the Securities and exchange commissions (SEC) eventual decision to adopt, converge to, or continue to study International Financial Reporting Standards (IFRS) as the financial reporting framework to be used by U.S. issuers? The process of mutual convergence between IFRS and U.S. GAAP, which has been an avowed policy of both the IASB and the FASB since 2002, will surely not extend beyond the terminal dates of the major projects currently heading toward completion.37 Countries that have signed on to IFRS, as well as the leadership of the IASB, believe that the time is nigh for the SEC finally to decide whether to commit to IFRS, or not. If it does not, the IASB must consider the consequences of an IFRS world without the United States. Considering that the U.S. capit al market is still the largest and most important in the world, and the SEC is the worlds most respected securities market regulator (Zeff 2011). 3.0 CONCLUSIONS A significant number of entities and countries around the world have adopted International Financial reporting Standards (IFRS) as their basis for financial reporting, often initially regarding these as a means of improving their quality of information on corporate performance. The benefits of adopting IFRS have been extended to include winning the trust investors, greater willingness on the part of investors and companies themselves to invest across borders, lowering of capital costs to companies, more efficient allocation of resources; and even higher economic growth not only for companies and organizations but for governments also. On the overall one can argue that this approach to financial management can greatly impact the global economy as a whole.