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Journal Article Report
Guidelines for Writing the Scientific Journal Article Report
Goal: The goal of this assignment is for you to research a topic of interest to you that has to do with the human body. This topic could be about human anatomy, exercise physiology, physiology, pathophysiology, or medicine. You’ll have to do a library research of the topic and then find a primary research article that you could summarize using the following format.
Format:
Title of the Report Page
Summary of the Report: 1 page
In this section, you should summarize the objectives, the methods and materials used, and the findings of the paper.
Discussion: 1-2 pages
Discuss the importance of the findings in the article to the science that it deals with (anatomy, physiology, pathophysiology, medicine, nursing, etc.) Compare the results with similar research in this particular field of investigation. Evaluate the research done in the article using two other sources. Give your opinion as to the merits (or lack of) of this research. Elaborate on the future of such research and the direction it might take.
Cite reference articles and list the sources in the bibliography section at the end.
Bibliography Page:
Use at least 2 sources of reference. If you cite someone you must include him/her in the bibliography.
Bibliography format: Author (last name, first initials), “title of article”, title of magazine or journal, book or periodical (underlined), date, volume, number, page numbers. If the article(s) is(are) from a website, be sure to include a live hyperlink to the article(s).
Article(s) must be from 2012 or later. No articles from Encyclopedias.
Select a paper on a topic that is directly or indirectly related to human anatomy. Attach a copy of the article to your report or a weblink to the report if available .Article review must be typed. Allow one-inch margins everywhere. Typing must be done using 12 pt. font and 1.5 line spacing.
This paper will briefly summarize the main points of the proposed statement by the FASB. Org.
Going Concern
(Author’s name)
(Institutional Affiliation)
Abstract
This paper will briefly summarize the main points of the proposed statement by the FASB. Org. the organization recently released a Current Exposure Draft and it is going to be the basis of this paper in the discussion of the Going Concern principle and its implications on a company. The findings of the paper on the principle are later going to be used to provide solutions for the FASB.org by proposing a number of changes that can be of benefits to the company.
Key words; going concern, balance sheets, financial performance
Introduction
The going concern concept in business is an assumption that that the premises will continue existing in the near future. The concept is one of the most essential foundations of financial accounting in most firms. Generally, the concept indicates that the company’s balance sheet should be able to reflect the value of that firm as if it were to exist for a loner time than the foreseeable future. Accountants usually utilize this concept so that it becomes possible for them to prepare financial reports that are realistic (Venuti, 2004). Without the principle of going concern, most accountants would be forced to write off all the company assets in the current time include those assets that are considered long- term that still have a benefit economically for the periods in the future. The going concern concept, therefore, is a product of the desire by stakeholders to come up with financial statements that reflect accurately the performance in finance of a firm’s short and long- term periods. It, hence, helps accountants to allocate revenues and costs that cover a number of reporting periods (Ellingsen & Fagan, 1989).
Summary of Main Points of the FASB.org Report
The main purpose of the statement by the FASB.org was to offer guidance to evaluate the reporting ability of an entity to go on as a going concern. The report argues that during the preparation of financial statements, the management has to be able to assess the ability of the entity that is reporting to continue as a going concern. The statement also argued that during the assessment of whether the going concern principle is appropriate, the management must take into account all the information that is available about the future, which is not less but not limited to 12 months.
The management, as the statement points out, may identify information about particular events or conditions that show that there could be some significant doubt about the ability of the entity to continue as a going concern. After this, the management must consider a number of tactics for dealing with the negative impacts of those events and conditions, and decide whether those tactics will be effective in mitigating the impacts, and whether they can be implemented effectively. Also the report indicates that the management must disclose uncertainties noticed about conditions or events that might show some doubt on the ability of the entity to continue as a going concern. Also, a reporting entity must disclose the facts incase when they do not prepare the financial statements on a basis of going concern, in addition to providing a basis on which the statements were prepared and why the entity was not treated as a going concern.
A going concern, as already indicated, is the ability for a company or a firm to continue functioning as an entity of business without facing the threat of liquidation in the foreseeable future. It is usually the responsibility of the management to assess and find out whether the going concern assumption of the entity is appropriate when it comes to preparing the financial reports of the company (Bedard & Chi, 1993). It is the responsibility of the company to disclose in its financial report’s notes, the factors that might endanger the position of the company as a going concern. The idea of determining whether a company can survive a going concern is difficult to discern. An auditor can give a firm a clean going concern only for the company to undergo liquidation within the following months. Another company’s going concern might be declared at the end of the financial year, but the company might surprise everyone when it does not get liquidated or when it does not go bankrupt. Surviving a going concern, therefore, is a challenging topic for many companies. However with the right auditors, the company can get the right opinions about their going concerns and make the appropriate changes or improvements (International Auditing Practices Committee, 1999).
Another current assumption closely related but slightly different to going concern has to do with company law. This aspect of going concern mainly affects the company’s directors, and is slightly different from the going concern principle in accounting. Corporation laws usually require the company directors to make a declaration that their firms continues to show the aspect of going concern. This is to mean that the directors have a profound believe that their business has the ability to pay its bills as they come. The only similarity with the going concern assumption is that the directors are required to disclose to the stakeholders it the financial statement notes if there are any factors present that might affect the existence of the company as a going concern (Geiger & Raghunandan, 2002).
There are various reasons why this new standard might be more effective than the traditional going concern principle. One of the advantages it imposes on the company is that the requirement by corporate law for a company’s directors to declare the ability for a company to pay its bills is evidence enough that the company is a going concern and that if it does face any challenges, the notes in the financial statement will review them. This is beneficial because one knows what has been declared is the truth because it is supported by law. A disadvantage is that the concept does not allow for mistakes, and the directors have to be sure of their declarations or risk to be sued (Bruynseels & Willekens, 2006).
Though the FASB.org report follows the conceptual framework of this current theory, it is clear that it is not bound by corporate law in any way in its declaration of the company’s financial statement. As a result, it is possible that a declaration made by the management might be biased because there is no risk of being sued in case the results of the company do not match the declarations made of the financial status of the company (Arnold et al., 2000). As a result, I would propose that the company makes amendments to the theory they use to incorporate entities such as corporate law to ensure that what is declared is the truth.
Conclusion
Going concern is an extremely essential element in accounting, and, therefore, successful businesses. However, it should be realized that the application of the principle might not be as straightforward as its definition, and that professional auditors must be involved in declaring the financial status of a company.
References
Arnold, V. et al. (2000). The effect of experience and complexity on order and recency bias in decision-making by professional accountants. Accounting & Finance, 40(2), 109-134.
Bedard, J. & Chi, M. (1993). Expertise in Auditing. Auditing: A Journal of Practice and Theory, 12 (2), 21-45.
Bruynseels, L. & Willekens, M. (2006). Strategic Actions and Going-Concern Audit Opinions. Working paper, Tilburg University.
Ellingsen, J & Fagan, P. (1989). SAS No. 59: How to evaluate going concern. Journal of Accountancy, 167 (1): 51- 7.
Geiger, M.A. & Raghunandan, K. (2002). Going-Concern opinions in the “new” legal environment. Accounting Horizons (American Accounting Association).
International Auditing Practices Committee. (1999). Going concern. International Standards on Auditing, 570. IFAC.
Venuti, E. K. (2004). The Going-Concern Assumption Revisited: Assessing a Company’s Future Viability. The CPA Journal, 40.
Life plan. People Do not Set Goals
Goals
People Don’t Set Goals
Goals are set for different perspectives in life. Goals range from finance, health, games and every person realizes and comprehends the supremacy of setting goals. Years have elapsed where by specialists and gurus have indulged and explained the worth of prioritizing goals and objectives. In this framework of thought, authors and speakers have put down novels and volumes as well as creating courses that teach people about goal setting. There are many reasons, which instigate people not to set goals in their lives. Unbelievably, this is not definite due to lack of education. Every seminar or conference usually has a point of setting goals to act as a guideline of achieving something. This subject has been widely mentioned for many years now. The subject of goal setting might be tackled in detail, at times just as a mention, but it is virtually constantly present. Moreover, almost every instance it portents an orgasmic groan ranging about 80 percent of the eager audience. People say that they do not set goals due to lack of time.
Certainly, this might be the cause since they lack the time to set goals. There is no time to put them down and review them in a regular basis. People do not have the moment and time to alter and modify their habitual and customary actions. This might never be the reason owing to some statistics featured by Nielsen Media Research Company. The statistics put forward that the US standard person has 28 hours on TV weekly. The number in Britain was depicted to be much advanced at 32 hours weekly. Consequently, even if persons assigned a kind one hour for evaluating and modifying goals each week plus allowing half an hour of watching TV programmes daily, ample time would still be there to guarantee that a person will never miss his or her favorite programmes! A majority of persons never believe or consider what they hear. People do not deem and believe what is trained to them. There is the lack of trust that they would accomplish extensively more than they are presently accomplishing in their current ventures, merely by setting goals.
This is not astonishing. Every person is a creature of his or her individual circumstances. Every person forms convictions based on past encounters and the surrounding people. If one has people in his surrounding who never have goals and objectives, it follows that he will feel skeptical or are not motivated with them. Some people merely set mistaken goals. These people establish goals that they believe they should set. They place goals that their relatives, peers, teachers, boss and lecturers desire them to set. They place goals that they imagine they crave but that they actually do not. Setting the mistaken goals will probably see the desired achievements and efforts become unsuccessful. Moreover, even worse than that a person could thrive in accomplishing something that he in reality did not desire. Reaching the wrong mountain top after exhausting an entire life is not a pleasant encounter. There is every possibility that the person will throw himself directly off it again!
When people try something and fail they tend to give up. This owes to the humiliation fear or contrast with other persons who have done well. Fear paralyzes lots of individuals not to take action. Fear instigates virtual inaction and makes almost every person continue with habitual actions. Laziness is also a factor that has to emerge in the goal setting perspective. Goals call for energy, and without it, a person will not take a single stride towards its achievement. The majority of individuals do not set goal owing to laziness. They never say they are lazy but are too busy doing their other goals. Setting goals will instigate a person to do things outside of his comfort zone. Setting large goals might take an extensive and a long way outside that one might not be able to work comfortably. Setting goals plus following the set dreams could take an unimaginable journey and hard work. In the present society, people desire everything at a go. The present society is an instant satisfaction and a short term civilization. If people desire something, they buy it right there and instantly without the conviction of not having money. If a person wants something, he or she will get a loan and buy it immediately.
People are usually attentive on the present circumstances in life. Live in the present world and pay later. They have the mentality of living in the present and are never concerned about the resultant issues. Goal setting needs a concentration on the future. A person is obligated to save for his or her retirement, as opposed to blowing the additional cash on sweepstake tickets and trusting in a lighting hit, thinking about a wedding day but never contemplating on the matrimony as a whole, having a crash diet but never idealizing about the training essential to be a healthy individual. This attitude now is never the most excellent manner to set ambitions. The ‘I want it now’ perspective has no concern about goals. This perspective will be blustered about in life by the storms of desire and wish and immediate gratification.
Goal Definition
My desire and paramount goal is becoming an accountant and to attain a masters degree in the United States. After this achievement, I look forward to going back to Saudi Arabia, get married and establish a happy family. With my master degree, I desire to establish my own accounting firm in Saudi Arabia in future.
Career Goal
The 21 day plan
I will employ the 21 day plan towards achieving my goal. I intend to concentrate more on my studies and researches in an attempt to achieve my master degree in the United States. Waking up earlier than 4am is my intention so that I can carry on my research while the mind is uninvolved. With this in mind, I do not presume to sleep past 12.30 am. I will concentrate highly in my classes and reach my lectures earlier and in time than before. Since Meditation is a key act in Saudi Arabia, I plan to meditate every day before sleeping. Meditation clears cerebral confusion and decreases the amount of sleep that a person requires. Within the 21 day period, Self-Enrichment practices will be imperative to me. Reading accounting books or listening to accounting podcasts daily will help me gain accounting knowledge. Timeliness as in being on time in everything I do is my main area of concern. Starting my day off on a delayed note will put everything else to be caught up, my timeliness being an inclusion. I will tackle this by being determined to reach everywhere I go early as opposed to being on time. This program is a self-initiated course whereby I will stick on my educational actions for 21-days daily and endlessly. I will deploy this scheme to grow fabulous customs, try out fresh and innovative customs that I might I have not primarily chosen on for trial reasons. The first 21 days procedure will require no commitment since it will just be a try out period.
Joe’s Goals is a straightforward yet influential tool to the trailing of my goals. I will track my daily endeavors using Joe’s Goals. Using the easy single page interface, I will put down my daily goals and trail them only with a click. Watching my daily score gage my accomplishments and use unconstructive goals to tackle and conquer dreadful customs that require to be boosted, will be a valid plan of action.
Family Goal
Being married is every person’s ambition and dream. The Saudi Arabian culture requires a person to have a family. Life in Saudi Arabia is a communal thing hence starting a family is not a strange issue. It will be strange if one does not have his or her own family. The desire of having a family is my main motivation. Desire is the endeavor of a contained opportunity within a person, looking for expression without a person’s actions and deeds. Marriage is the course by which two individuals who adore each other make their connection public, certified, and everlasting. It is the amalgamation of two persons in a connection that supposedly lasts up to death, but in performance is more and more cut short by divorce. I still have to get married because of family ties. Beloved, there is a deep and remarkable motive for the way the almighty ordered the conception of man a thing that is remarked on all through the Holy book. A person should observe the marriage institution to discover the realization of being human. Marriage is ordered as the amalgamation of a man along with a woman.
Personal Goal
After completing my studies, I intend to open my accounting company in Saudi Arabia. This is a long term goal because I will have to be employed in my native country to get familiar with how things work. Positive contemplations guide to positive outlooks that lead to optimistic actions and optimistic results. It will take many years to open a renowned firm but I am confident that following my instincts and working hard will make this possible. To achieve any of my goals requires an elevated amount of hard work and desire. Corporation with the Saudi Arabian accountants will help me get the right knowledge and acquaintance to start up my office.
Implementation is the only way forward to achieving the above goals. There is no substitute for taking action. I will be checking my progresses every last day of the month. This is in an attempt of keeping track of my accomplishments. In case of failure within the first 21 days, I will restrategize my plans towards the right course. I will try out the 21 day plan for some days before starting to accomplish my goals. Mentally preparation before the forthcoming 21 days will set me in the correct frame of mind for achievement. My goals are tangible and can be seen. The tangible results of my goals are; completing my master degree, being happily married, as well as, having an accounting office in Saudi Arabia. I will know my achievements having attained these goals.