National Renewable Energy Laboratory

Question: Using the PESTER analytical tool, critically analyse the impact of the Renewable energy policies of any developed economy on any OPEC member states energy policy. Answer: Introduction The countries in the Persian Gulf and the African nations have vast oil reserves. The first economy of these oil producing nations is driven by the export of crude oil. The European Union member countries import massive quantities of crude oil. The African oil producers and their Persian counterparts are members of the OPEC. But in the wake of global warming and climate change the entire context is about to change. The climate changes and security of energy are major concerns and challenges facing the world. The challenges need to be solved by the concerted effort from all member nations. The developed nations need to dedicate efforts to finding ways in solving the energy crisis. The renewable sources need to be explored and utilized to the maximum. The efforts in finding alternatives need to be intensified and put to immediate use. The OPEC members are required to reduce their rate of exports of conventional crude oil. Knowledge and research The scope of the project is to analyze the renewable energy policies of OPEC member nations. The selection of the countries in this project was made by specific criteria. The European Union is closely monitoring the internal situation of these oil producers because it imports huge quantities of oil every year to cater to its needs (Extradition agreement with the European Union 2006). Our study focuses on the things we can do to negate the effects of climate change. These strategies can be jointly identified by member nations of the OPEC and oil importing countries to find a feasible solution to this problem. The problem lies in the fact that OPEC member nations and other countries having vast natural resources would not put a leash on the extraction and sale of crude oil. The region is so rich with the presence of abundant natural resources that the entire economy of the region is driven by it. The countries wouldnt want to stop producing oil and impede their crazy growth (Spilsbury 2010). The EU and other importing countries have to urge the countries constantly to extract oil in a manner which is sustainable and yet suffices the need of the post generations. The African nations have ample agricultural resources which are not readily available in Middle Eastern regions. But agriculture cannot replace the effect of selling oil with agricultural produce (Acknowledgement to Reviewers of Agriculture in 2015 2016). There is a reason as to why we call crude oil black gold.' If a farmer was tilling the land in Western and Central Africa, suddenly find a jet stream of black liquid shooting out through the surface, he will be seen riding limousines and private jets for the rest of his life. So, people who advocate the policy of switching to agriculture instead of oil production, they are not sufficiently informed. The Middle East is predicted to be extracted and exhumed all its crude and natural gas resources by the end of this century. Then what happens to the economy of the nation, what will be the primary mode of income for the government and the people. The countries having huge resources of oil rely on the advanced technical know-how of other petroleum companies and do not provide required school or college level training to its citizens about the technical knowledge of oil production (Samburg 2007). Many potential solutions to the threats of climate change and sustainable renewable energy usage have been discussed here. In the context of this project, it targets the usage and advantages of using renewable energies with possible plans of phasing out conventional forms of energies. We have to mention it here that the Middle East and North African nations are viewing nuclear power as a game-changing phenomenon. The nuclear power if regulated can generate enormous energy and motivate the sale of that clean power. The atomic energy can be produced by little raw material, generally in the form of Uranium 238. The U-238 is an isotope of Uranium, which can produce significant energy with petite of the active element (ChemViews 2012). Many countries in the petroleum belt are drawing plans to integrate the use of nuclear energy into their existing energy system infrastructure. Other forms of renewable energies are also being targeted by the OPEC members as well. They are interested in exp loiting the huge solar radiation that is available in abundance in the equatorial planes. The solar power has the capability to be integrated with energy systems in place (Energy efficiency and renewable energy research, development, and deployment in meeting greenhouse gas mitigation goals 2010). We will be involved in the in-depth discussion of several energy policies of OPEC member nations and their plans to phase in the use of renewable energies. Arguments and analysis The renewable energy usages of the OPEC member nations need to be studied in further detail. We have selected the nations for analysis based on their annual production and consumption of natural gas and crude oil. The countries that have been selected for the analysis are the United Kingdom and United Arab Emirates. The nations were selected because they have several parameters in common. Firstly, the export of crude oil makes a large percent of their annual GDP. Therefore the sale of crude is a chief financial aspect governing the formulation of policies and national interests (Holt 2008). The countries provide all efforts to keep their margin of export high, to generate national income. The second common factor is that these member nations are actively involved in the area of nuclear energy. The other commonalities that made us shortlist these three countries for analysis are also because these countries are all located in the Sunbelt, between the Tropic of Cancer and the Tropic of Capricorn (Raum 2008). Despite several common aspects, the countries also differ widely in various aspects of socio-cultural and economic factors like size of the population and its incremental rise, the total amount of fossil fuel in reserves and the rates of unemployment prevalent in these countries. PESTLE analysis of the selected countries The political forces of the member countries are responsible for shaping the energy policy of the nation (Societal and economic factors 2008). The political analysis of the countries selected for our study reveals that the government body frames the policy of renewable energy usage almost all of the times. In rare cases, they outsource the responsibility to specific professional bodies for the recommendation. Further research shows that the Oil and Natural Gas Ministry is the most influential decision-making body when it comes to shaping the renewable energy policy of the nations under consideration. So it's the most influential of the factors of the PESTLE analysis framework. Economic factors at play are already mentioned multiple times in the discussion. The economy of the region is crude oil driven (Ruschmann 2009). The nations earn their primary revenue from the sale of oil and natural gas. So, the implementation of renewable energy policies is motivated by the export of crude. Further, these two developed economies have global presence in on shore extraction in multiple African nations and off shore drilling platforms in multitude of crude rich oceanic beds. The social analysis reveals that the nation's people are enthusiastic about the oil industry and are oblivious to the impact of renewable energy on the nations economy. The economy is supported by the oil industry. The industry provides employment to many workers. The social culture is influenced by oil. The countries must step up their efforts in setting up professional technical colleges and institutes to train the citizens on know how of oil drilling, rather leave it to private companies driven by their financial motives to rule the oil drilling portal. The renewable energy sector has benefitted widely with the advancement of harvesting technology (Oil and natural gas 2008). The technology to harvest renewable energy has undergone radical changes. The technology policy of the nations has been simple. The nations have increased reliance on advanced machinery to harvest renewable energy. Legal conditions within the country have set the pace for implementing the use of renewable energy. There are laws relating to export of domestically produced renewable energy to other nations. The environmental analysis of the states under concern reveals that no significant policies exist to protect the environment (Johnston 2009). The framework to develop and exploit environmental sources of energy exist but are profoundly absent in the implementation phase. Evaluation of the issues It is evident from our past discussions that OPEC countries rely heavily on the export of crude oil barrels. The need to reduce carbon emissions and decrease the carbon footprint of the globe, efforts has been taken by countries other than OPEC members to reduce the reliance on petrol and gas. The efforts have been stepped up to reduce the emission from fossil fuels and coal based industries. The member nations of climate conventions have come forward to step up their efforts in finding better alternatives to conventional energy sources (Scherer 2010). The OPEC member states have since its inception spoken with a unified voice. They have voiced their dissent on the decision of other countries to reduce consumption of oil. They argued that it would adversely affect their economy and drive them to financial ruins. The other countries have since argued counter statements saying that the OPEC members need to develop alternate sources of income to support their economy. The OPEC members h ave been noncompliant in their strategy. The OPEC members have been advised well early before the onset of global warming and climate change that their economies would take a plunge into Deep Ocean when the world eventually phases out usage of oil (Haugen, Musser and Lovelace 2010). These are the primary issues that are restricting the implementation of renewable energy use policy in the OPEC states. The educational models and their uses The economic and financial strategies that the member states have undertaken can be applied to a few academic theoretical models. The theoretical models used to analyze are divided into two categories: great analysis models which comprise of the academic framework of the country to train future professionals in the field of renewable energy courses. The internal analysis also contains sub external forces which determine the result of the business decisions on academic training of renewable courses. The external academic model treats all factors other than internal to be under its ambit. The external analysis can be useful in dealing with forces that are shaping and guiding the renewable energy economy of a country. The models are in compliance with international standards which are prevalent in developed economies (Financial Growth Strategies 2008). The ongoing researches and findings indicate a trend that is shifting base from internal to external sources in the OPEC member countrie s. Elaboration of the ideas The countries of Middle East under OPEC nations have little-known prospects of biomass energy potential. The North African countries have significant potential biomass energy sources which they can exploit. The other potential sources of renewable energy of the three OPEC member nations have been quite impactful. The countries have huge geothermal energy harvesting potential (Saunders 2008). The potential of harvesting huge hydropower also exists. The countries under consideration need to gear up for producing electricity and exporting them in numbers to support their dwindling economies. The Paris climate convention had predicted that the year of 2049 the whole world would be independent of the clutches of oil trade and be self-reliant in meeting their energy needs. The OPEC countries need to understand they would be in shambles unless they implement alternate ways of generating income. The United Arab Emirates has drawn up mere suggestions on how to achieve and realize this ideolog y (Currie 2011). The practical problems that the countries would be facing after the world has rejected oil are to be considered deeply. The issue would become rampant because their entire nations would be reeling under poverty. Before the situation sets its roots deeper into the rich ground, they need to eliminate the problem altogether. Appropriate solution The ways of finding appropriate solutions to these problems would properly educate the country's youth. If the young people and the next generation is educated and capable of free thinking, they would certainly take measures to stop the exhumation of oil. The youth of today is voicing their concerns about this system. The countries economy won't suffer if oil is phased out only if the countries youth are employable in other sectors. The countries might learn eventually to do without oil. The countries need to make investments in other sectors to generate and supplement the income of the nations. The countries might step up their efforts to make universities of technical education and make the universities available for all children of the society. These steps need to be taken now since the countries have excess money and can spend lavishly on developing the education sector. Apart from renewable energy changes, the governments of OPEC member countries can apply these changes to prepa re the economy significantly for radical changes that are due any moment. Conclusion The detailed analysis of energy systems both conventional and nonconventional has shown that there cannot be a single solution to problems faced by OPEC members. The problems are varied and interdependent of other various factors. The conclusions we can draw are significantly not friendly to OPEC member interests. The OPEC members will always try to lobby its efforts in finding a solution that will not hamper its global oil trade. The world, though, has other plans to ratify joint action against the national interest of these economies. So, before that happens and the OPEC countries stare at a financial meltdown looming on the horizon, they need to understand that their free reign will not go on and on. It's about time that the countries know their value of oil and save it for a later generation to come. The future generations must be allowed to reap the benefits of natural resources. References Acknowledgement to Reviewers of Agriculture in 2015. (2016).Agriculture, 6(1), p.8. ChemViews, (2012). Renewable Energies: Wind, Solar, Biomass.ChemViews. Currie, S. (2011).Hydropower. San Diego, CA: ReferencePoint Press. Energy efficiency and renewable energy research, development, and deployment in meeting greenhouse gas mitigation goals. (2010). Golden, Colo.: National Renewable Energy Laboratory. Extradition agreement with the European Union. (2006). Washington: U.S. G.P.O. Financial Growth Strategies. (2008).Neurosurgery, 62(6), p.1393. Haugen, D., Musser, S. and Lovelace, K. (2010).Global warming. Detroit: Greenhaven Press. Holt, D. (2008).Crude oil. Market Rasen: Total-E-Bound. Johnston, H. (2009).Culture, social movements, and protest. Farnham, England: Ashgate. Oil and natural gas. (2008). New York: DK Pub. Raum, E. (2008).Nuclear energy. Chicago, IIl.: Heinemann Library. Ruschmann, P. (2009).Energy policy. New York: Chelsea House. Samburg, D. (2007). Resources Available From Independent Natural Gas Marketers.Natural Gas, 3(11), pp.28-32. Saunders, N. (2008).Geothermal energy. Pleasantville, NY: Gareth Stevens Pub. Scherer, L. (2010).Fossil fuels. San Diego, CA: ReferencePoint Press. Societal and economic factors. (2008). Washington, D.C.: Transportation Research Board. Spilsbury, L. (2010).Natural resources. Chicago: Heinemann Library.

Small and Medium Sized Enterprises

Question: Discuss bout the Small and Medium Sized Enterprises. Answer: Introduction The essay provides a brief understanding of different concepts of measurement in the context of the present AASB (Australian Accounting Standards Board) /IASB (International Accounting Standards Board) framework.AASB is engaged in formulating Financial Reporting Councils policy for adopting the standards of International Accounting Standards Board (IASB). Discussion has been made in the essay by analyzing an Australian companys annual report for the year 2016 in context of AASB/IASB principles. The company selected for the purpose is AGL Energy Ltd. This study also discusses the problems of measurement, using AGLs annual report. Further, measurement issues are also evaluated. Finally, the essay concludes with the discussion of the role of useful information and recommendations regarding decision-making process of the organization. Background of AGL Energy Ltd AGL Energy Ltd. is an oldest Australian Gas Light Company. The company began its operations in 1837 in Sydney and became a second company to list on the Australian Stock Exchange. It is a leading company among Gas retailers and distributors of Australia. AGL deals with energy products and services of Australian economy (Nelson and Orton, 2016). The company has expanded its operations across New South Wales,Victoria,South AustraliaandQueensland. It provides gas and electricity to 1.4 million and 1.8 million customers respectively. It mainly has four business segments, named Retail Energy, Merchant Energy, Upstream Gas, and Energy Investments. It possesses a diversified power generation portfolio which includes hydro, and wind energy. At present, AGL Ltd. is a largest developer of renewable energy assets. Brief Introduction to AASB/IASB The Australian Accounting Standards Board (AASB)/IASB is a government agency of Australia that works under theAustralian Securities and Investments Commission Act 2001. It develops and maintains financial reporting standards that can be applied to both private and public sector companies of Australia (Horngren et al., 2012). The Board also contributes in facilitating a single set of accounting standards for worldwide use. It promotes main objects of IASB so that Australian companies can compete effectively across the world. The vision of AASB is to become recognizable among leading national standard setters. The mission of the Board is to meet Australian users requirements by establishing sound reporting standards. In July, 2004, the AASB has declared Australian Accounting Standards equivalent to IASB standards. This is done to bring uniformity and consistency in the work of AASB in order to meet the Financial Reporting Council strategic directions (AASB, 2014). AASB sets standards for all kinds of entities who prepare financial statements, while IASB mainly emphasize on profit-making entities. Concepts of measurement in context AASB standards Measurement in financial statements refers to a process which assesses the balance sheet and income statement items in monetary terms. The Australian Accounting Standards Board (AASB)/IASB are responsible for making and formulating accounting standards. It includes three measurement principles in a revised conceptual framework (Bazley et al., 2014). These principles indicate financial reporting objective and its qualitative characteristics. The three principles are described as follows: This principle states the important information given by a specific measurement method, which has a significant impact on the statement of financial position and statement of profit or loss (Barth, 2013). This principle affects AGLs statement of changes in Equity and the notes to financial statements. This principle states that cost of a specific measurement should be legitimize so that existing and potential stakeholders of AGL can be benefitted from the reporting system. This principle states in order to provide relevant information, minimum number of measurements must be used (Armstrong et al., 2010). Also, the required changes should be incorporated and clearly explained in measurement methods of AGL Energy ltd. Categories of measurement methods According to IAS 16, the term includes depreciated or amortized costs of financial assets and liabilities, accrual interests, and other historical costs. It also involves impairment of assets which are more troublesome. Because amortized cost of measurement involves discounted estimates of cash-flows, it is also known as cash-flow-based measurement (Biondi, Lapsley, 2014). Also, AGL Energy follows IAS 2 (inventories) which specifies costs of purchases, conversion costs and other costs related to bringing of inventory to the present location, to be included in costs. Fair value and other current market-prices: IFRS 13 states that fair value is a price received from selling of assets or price paid to transfer a liability in the principal market under existing market conditions. Using fair value technique, AGL makes it easier for users to understand the principles of measures adopted by it (Perera and Chand, 2015). The term also includes estimated cash flows of assets or liabilities, time-value of money, risk premium, and other factors of the comapny. Other measures based on estimated cash flows: Some measurement methods under IFRS are based on estimate cash flows, which are used for impairment of financial and non-financial assets, lease receivables, net realizable value (NRV) of inventories, provisions, and deferred tax assets and liabilities. By minimizing the number of measurement methods and further expansion, AGL makes its financial statements more reliable. Problems of measurement in context of AASB standards Measurement issues for elements: The AASB/IASB considers the issue of whether assets and liabilities are measured at cost or the value specified by AASB/IASB framework. Cost is considered more reliable by companies as it is identifiable. However, it is not useful for users as it represents the historical cost of assets or liabilities. To overcome this problem, AGL Energy uses valuation method because it is up to date (Bamber and McMeeking, 2016). But, it is not always reliable which creates an issue that which measurement method a company should use. IAS 40 (Investment Properties) and IAS 16(Property, Plant and Equipment)specify that companies should be allowed to use their own accounting policy for measurement purpose. The IASB/AASB considers following measurement bases, which usually creates issues for AGL Energy ltd.: Market Values: Market values do not recognize the difference between market buying prices and market selling prices. For AGL, entry and exit values of assets and liabilities are not the same as these market values are based on measurement basis adopted by the company. This is also because transaction cost is generally added or deducted from market price at which buyers and sellers meet. However, AASB/IASB do not convince with this measurement basis as this concept does not evaluate fair value. Historical Cost: AGL records its assets and liabilities at historical cost. On the other hand various companies recognize them on fair value or fair value plus directly attributable transaction cost or fair value less selling costs. According to AASB/IASB, this measurement basis lack clarity and consistency. Some companies adopt mixed measurement model which reflects different economic concepts of value of different items of financial statements. As a result, issues arise because a meaningful comparison of different companies cannot be made as different measurement scales are applied to different assets and liabilities. AASB/IASB states that historical cost and current cost are two different things. Historical cost may not have much relevance unlike other measurement bases, due to significant changes in prices. However, current cost and historical cost are considered as a same concept by various entities which may create further issues for them. Replacement Cost: AASB/IASB observed that the term replacement cost in context of impairment of assets and cost in fair value measurement is considered to be materially the same. AGL used to treat them interchangeably for some specialized assets. The Board also states that this accounting practice of companies is not valid and may create confusions in various circumstances. AASB/IASB also proposed to overcome issues regarding depreciated replacement cost. It specifies that not-for-profit companies are not required to use depreciated replacement cost as a measure of value, if such companies are not dependent on assets ability to revenues. Issues relating to Concept of capital and Concept of capital maintenance: AASB/IASB realized that many companies get confused regarding the concept of capital and capital maintenance. Capital signifies a name for a companys wealth. It determines the measurement basis that a company should apply to its assets and liabilities (Hail et al., 2010). On the other hand, the concept of capital maintenance determines the need to adjust opening balance of equity before assessing the entitys results for a particular period. The key issue here arises for AGL is regarding the requirement of recognizing price changes that affect assets and liabilities of a company. Issues in measurement in the context AASB standards There are various issues that AGL faces by adopting the framework of AASB/IASB. In order to make information more useful, it must be neutral, faithful and capable of helping in effective decision-making process. There are mainly five elements which create issues for AGL Energy, while preparing financial statements (Cordery and Simpkins 2016). They are described as follows: Assets: An asset is a valuable resource of a company which possesses some economic value. It may be current asset or non-current asset. It includes machinery, stock, goodwill, and cash. According to AASB/IASB, legal ownership is not necessary for determining whether an asset belongs to a particular company or not Kraal, D., (Yapa and Joshi, 2015). It is the control of an asset that is a major determinant. For instance, IAS 17 specifies that a lessee should recognize an asset as its own if all the risk and rewards relating to that belongs to him. It would not affect his ownership even if the lessee does not legally own that asset. It reflects that economic reality of an asset is the key issue which affects the faithful presentation of financial statement of an entity. Liabilities: A liability is an obligation of a company which arises from its past events. It may be current or non-current, for example, creditors, bank loan, and debentures. According to AASB/IASB, for recognizing a liability in financial statements, there must exist a present obligation. It must be recorded at its present value so as to reflect time factor (Birt et al., 2013). IAS 37 also considers Provisions, Contingent Liabilities and Contingent Assets of AGL to be consistent with AASB/IASB standards. They represent the liability related to future events. So, in many cases such a presentation creates issues in financial statements for recognizing liability. Equity: Equity in AGL represents the interests of its owners in companys assets. It is an aggregate of companys liabilities and capital introduced by its owners (Jamal et al., 2010). In many companies, benefits of equity in subsidiaries are not enjoyed by the parent company. These are recorded under other components of equity. It sometimes crates issues in identifying the net amount of equity of the whole company. Income: Income refers to the amount earned by a company from its business activities. It enhances the economic benefit of the company during a particular period. Most income of AGL is recorded in income statement of a company as it is derived from normal operations of business (Kraal et al., 2015). However, AASB/IASB requires certain types of income to be recorded in equity account i.e., reserves. Such incomes include revaluation profit or loss on assets or liabilities. Issues arise when AGL recognizes such gains in income statement although such transactions do not represent income for the company. Expenses: Expenses are defined as the outflow of amounts which lead to decline in the economic benefits of a company (Potter et al., 2013). These include payment of salary, rent and interest and depreciation. However, some companies record payments of dividend to equity as companys expense. AASB/IASB specifies that such outflows do not form a part of companys expense and therefore, not recognized in income statement. Such outflows are recognized as appropriation of profits and are deducted from retained earnings of AGL. Relationship and Impact between the measurement concepts employed in AGL Energy Ltd AGL Energy Ltd. adopts the measurement concept of fair market value in competitive market because in competitive market the objective behind implication of fair value is to endow with a cap in relation to market prices. These fair value prices are not the lowest price and are also not the effective price. These fair value prices are used by the AGL Energy for formation of financial statement (Kober et al., 2013). The fair value prices helps in identification of true worth of organization. Moreover, it is very important to find out the relationship regarding market contract prices and standard contract prices. In addition to this reliable measurement concept is also followed by AGL Energy Ltd. which includes that the liability are mentioned in balance sheet to show the monetary expression in terms of obligation to forgone economic benefits. The measurement of various liabilities stated in balance sheet may vary in terms of reliability (Dagwell et al., 2011). So, AGL Energy Ltd. provid es verifiable evidence of the nominal amounts paid by the company and the dates of payment for the majority of liabilities. AGL adopts the concept of providing Comparative information in which the organization provides information to the investors and other stakeholders so that they can be able to identify the exposure to risk faced by the organization in managing its diverse portfolios. The organization also provides Electricity Hedging Policy in public so that the investors and stakeholders can be updated about the financial position of AGL Energy Ltd (Escosa, 2016). The organization also provides financial statements at the end of the financial year so that the comparative analysis can be made by the investors and stakeholders about the profitability of the company over a period of time. AGL Energy Ltd. adopts the concept of going concern and formulates its financial statements on the basis of going concern principle (Ewert Wagenhofer, 2012). AGL Energy follows the concept of consistency in presentation which shows the items in the financial statements in consistent with one period over another so that an easy analysis can be made. AGL Energy Ltd. follows the written down value approach for calculation of depreciation and follows this approach over the years (Escosa, 2016). AGL Energy Ltd. follows the principle of materiality in which all the material information regarding similar class is presented all together and items of different class are to be presented separately. AGL Energy Ltd. follows the frequency of reporting principle. The organization publishes the complete set of financial statements yearly. AGL also publishes the interim financial statement report at the end of the quarter in the year. The objective behind publication of financial report is to make the investor aware of the financial condition of the company (AGL, 2016). The organization also follows the principle of accrual basis of accounting. AGL Energy Ltd. records the income and revenue when they are received in cash and record the expenses when they are going to incur. AGL Energy uses the concept of valuation technique so that the fair value can be measured of the transaction (Vinnicombe, 2010). AGL Energy represents the financial position, financial performance and cash flows with due faith and also makes a reflection on the economic substances of transactions occurred. Same accounting policies are adopted for the same transaction by the organization. Consistency in accounting policies will make the comparison easy (Dagwell et al., 2011). AGL Energy follows AASB 108. The organization correct any material prior period mistake in the first financial report after the error has been find out by restating the comparative amount in the financial statements of the organization. Conclusion From the above discussions, it is concluded that application of measurement principles in context of AASB/IASB standards have a significant impact on not-for-profit entities and public sector entities of Australia. AGL Energy ltd. also adopts these measurements in its current accounting practice. It is also identified that the company is affected by AASB 13 in various aspects of its business activities. Above discussions also found that AASB has been widely recognized internationally for its meaningful contribution in the development of uniform accounting standards. Role of accounting concepts and principles can be reflected in the operations of AGL Energy ltd. On the basis of facts described in this essay, it can also be said that the objective of AASB framework is not to rationalize treatments in existing standards but to incorporate IASB conceptual framework into AASBs conceptual framework. The conceptual framework of IASB is likely to have a major impact on the future guidelines of IFRS. However, it is recommended to AASB to focus on economic phenomena like scarce resources and claims along with changes in them as well. The Board should also take into account the latest thinking developed in standard projects. Also, in order to become more recognizable, AASB should not refuse to develop specific requirements in its existing standards that may be different from its conceptual framework. References AASB, C. A. S. (2014). Business Combinations.Disclosure,66, 77. AGL (2016). Sustainability Performance Report. Retrieved from: https://www.agl.com.au/-/media/AGL/About-AGL/Documents/Media-Center/What-We-Stand-For/2013/AGL051_Sustainability-Report_2013_HR.pdf?la=en Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., Riedl, E. J. (2010). Market reaction to the adoption of IFRS in Europe.The accounting review,85(1), 31-61. Bamber, M. McMeeking, K. (2016). An examination of international accounting standard-setting due process and the implications for legitimacy.The British Accounting Review,48(1), 59-73. Barth, M. E. (2013). Measurement in financial reporting: The need for concepts.Accounting Horizons,28(2), 331-352. Bazley, M., Hancock, P. Robinson, P. (2014). Contemporary Accounting PDF. US: Cengage Learning. Biondi, L., Lapsley, I. (2014). Accounting, transparency and governance: the heritage assets problem.Qualitative Research in Accounting Management,11(2), 146-164. Birt, J., Rankin, M., Song, C. L. (2013). Derivatives use and financial instrument disclosure in the extractives industry.Accounting Finance,53(1), 55-83. Bloom, M. (2013).Double accounting for goodwill: A problem redefined. UK: Routledge. Cheung, E., Evans, E., Wright, S. (2010). An historical review of quality in financial reporting in Australia.Pacific Accounting Review,22(2), 147-169. Cordery, C.J. Simpkins, K. (2016). Financial reporting standards for the public sector: New Zealand's 21st-century experience.Public Money Management,36(3), 209-218. Dagwell, R., Wines, G. and Lambert, C. (2011). Corporate Accounting in Australia. Australia: Pearson Higher Education. Escosa (2016). Energy in Action. Retrieved from: https://www.escosa.sa.gov.au/ArticleDocuments/774/120827-ElectricityStandingContractWEC-DiscussionPaperSuppSubmmission-AGL.pdf.aspx?Embed=Y Ewert, R., Wagenhofer, A. (2012). Using Academic Research for the Postà ¢Ã¢â€š ¬Ã‚ Implementation Review of Accounting Standards: A Note.Abacus,48(2), 278-291. Hail, L., Leuz, C., Wysocki, P. (2010). Global accounting convergence and the potential adoption of IFRS by the US (Part II): Political factors and future scenarios for US accounting standards.Accounting Horizons,24(4), 567-588. Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D., Tan, R. (2012). Financial Accounting. Australia: Pearson Higher Education. Jamal, K., Bloomfield, R., Christensen, T. E., Colson, R. H., Moehrle, S., Ohlson, J., ... Watts, R. L. (2010). A research-based perspective on the SEC's proposed rule-Roadmap for the potential use of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) by US issuers.Accounting Horizons,24(1), 139-147. Kober, R., Lee, J., Ng, J. (2013). GAAP, GFS and AASB 1049: perceptions of public sector stakeholders.Accounting Finance,53(2), 471-496. Kraal, D., Yapa, P.W.S. Joshi, M. (2015). The Adoption of International Accounting Standard (IAS) 12 Income Taxes: Convergence or Divergence with Local Accounting Standards in Selected ASEAN Countries?.Australasian Accounting Business and Finance Journal,9(1), 3-24. Nelson, T. Orton, F. (2016). Climate and electricity policy integration: Is the South Australian electricity market the canary in the coalmine?.The Electricity Journal,29(4), 1-7. Perera, D. Chand, P. (2015). Issues in the adoption of international financial reporting standards (IFRS) for small and medium-sized enterprises (SMES).Advances in Accounting,31(1), 165-178. Potter, B., Ravlic, T., Wright, S. (2013). Developing accounting regulations that reflect public viewpoints: The Australian solution to differential reporting.Australian Accounting Review,23(1), 18-28. Vinnicombe, T. (2010). AAOIFI reporting standards: Measuring compliance.Advances in Accounting,26(1), 55-65.

Team Work an Example by

Team Work Sometimes, the job gets done at a faster pace when a team is assigned to it. Working in a team generates faster results than if we work alone. However, we have to take note that not all teams succeed in their objectives. Success of a team depends upon many factors. This paper will look into the advantages and disadvantages of working in a team, the processes, and some important things to consider. Working in a team is better than working alone because there are many ideas that we can get from each team member. Team work also facilitates equal sharing of responsibilities, and each member is expected to do his part of the job. Moreover, tasks are done quickly, changes can be made easily and teamwork provides flexibility to the company. Since members are involved and communicate with each other, decision-making will be easier and more efficient. West, Borril and Unsworth (1998) stated that an efficient team brings consistency in organizational environment. Need essay sample on "Team Work" topic? We will write a custom essay sample specifically for you Proceed However, there are also disadvantages in a team model. These are poor coordination and communication between the members, competing objectives (West, et al., 1998), hidden agendas, cultural clashes, conflicting personalities, unwillingness to help, and unclear goals and responsibilities (Lemmex, n.d.). There are four processes for group development in a team, namely forming, storming, norming and performing. This model was developed by Bruce Tuckman in 1965. This has become a basis in knowing whether a team develops. Forming is the first stage of team building. During this stage, team members meet up, introduce each other, learn about the challenges and opportunities, and agree on the set goals. Then they tackle the tasks. In this stage, the members behave independently. Although they are motivated, they are usually unaware of the issues and objectives of the team. The teams supervisors must be directive at this stage. If the members are confident, the team will likely enter the second stage, which is the storming. During this stage, the team deals with the ideas or issues, such as the problems that they must tackle, how they will function and what leadership model to accept. Usually, team members disclose with each other and confront their conflicting ideas. Sometimes, a team may find difficulty leaving this stage. The storming stage is unpleasant and even painful for those who are not willing to resolve conflicts. The team may fall apart if the members do not know how to listen, or to understand the conflict and find ways to move forward (The Teal Trust, n.d.). But this stage is important for the growth of the team and of its members as this facilitates tolerance and patience in resolving the conflict. Once the team comes out of the storming stage with an agreed method of operating, it will enter the norming stage. This stage is characterized by team members adjusting with each other so that the teamwork if smooth. The members agree on professional behaviour, rules, working tools and values. There is cooperation and collaboration and members trust each other. As members get more familiar with the project, they will be motivated (The Teal Trust, n.d.). Performing is the final stage of team building, which focuses on achieving the goals and objectives of the team. At this stage, members will likely be loyal to each other and understand the importance of managing more difficult tasks. They are also interdependent and knowledgeable, autonomous, competent, and motivated (The Teal Trust, n.d.). A team is said to be effective if it meets its goals and objectives. But meeting the objectives is not an easy task, as sometimes members are faced by conflicting opinions and ideas on how to meet their objectives. There are ways that the team can do to meet its goals. First, communication should be clear within the members, and they must also know the goals and their roles and responsibilities in achieving them. In case of conflicts, the team must apply a conflict resolution process. It is also important for each member to participate willingly and must be committed in achieving the teams goals and objectives (Lemmex, n.d.). Equal contribution is necessary in teamwork. Members are important in a team, thus they should provide equal contribution. Every contribution will help the team in making decisions and meeting its objectives. Moreover, different persons have different ideas, and sometimes this is just what the team needs in order to choose the best action. Samar (2002) commented that team members must work together from the beginning to the end. Although members work together to be more effective, it is not necessary to carry a member at all times. It is required for every member to share with others the tasks assigned so that objectives are met and the decision making process is efficient. But this is not to say that a team should not carry a member as there will be special circumstances when a team has to carry a member. It is important for a manager to understand that there are teams where some members do not contribute as he should have. Sometimes, the case is members contribute but not equally. The manager should make it clear at the start about the duties and expectations for each member. He should motivate the members by being an example. He should also communicate with the members that a team can be successful if every member gets involved until the end of a project. Of course, working in a team is not all about ease and happiness. Teams are faced with difficulties and obstacles that may seem to be hard to overcome. But once we recognize these obstacles and we believe that we can overcome them through our efforts, it will be easier for us. It is always important for the team to work together and brainstorm on how to deal with the hindrances. It is also important for the members to share ideas on how they can help to solve the problem. This way a team emerges successful. References Lemmex, Steve. (n.d.). Communication breakdown and conflict within teams. Expert Reference Series. Samar, Edgar. (2002). Team work and team building: How to work as a team. Retrieved on December 19, 2007 The Teal Trust. (.d.). Team process. Retrieved on December 19, 2007 from http://www.teal.org.uk/et/teampro.htm West, M.A., Borrill, C. S. & Unsworth, K. L. (1998) Team effectiveness in organizations. Sheffield, England.

Egyptian Civilization essays

Egyptian Civilization essays Egyptian civilization formed along the Nile river and the earliest traces of human life in that region are from the Paleolithic Age, (Old Stone Age), about 300,000 B.C., at the very edges of the Nile Valley. Beyond, on both sides of the river the land was and still is desert. At that time the people moved from place to place, ate berries, roots, and any animals they could find, but stood close to their lifeline, the Nile. The lands along the Nile were rich enough to be farmed, so over time the people started to grow crops. They found ways to store the yearly floodwaters and then use them for the dry seasons. The farmers learned to lift water out of the Nile or wells and send it across the fields through a system of canals. In order for all of this to work out they had to work together, no one could do any of it alone. So as the farmers and people began to cooperate, an organization began to grow. They found leaders among them who directed the work. A form of government developed and due to that they soon began to build cities, to manufacture things, in time to trade with their neighbors. That is how it all started. Over a period from 3100 B.C. to 332 B.C. they grew in culture, arts, religion, science, The early Egyptian people grew food by the Nile and lived mainly by hunting for meat, fishing, and gathering wild plants. They kept a small number of cattle, sheep, or goats, and grew a few crops. Their crops were flax, barley, and a primitive kind of wheat called 'emmer.' They got the sheep and goats from the middle east, and their crops too. Farming provided most of the food and helped their population grow. Later on in time, the basic diet of the ordinary people was bread and beer. The wealthier ones ate more meat and drank wine instead of The most common clothes women wore were tunic dresses. Those were made by folding a rectangle of cloth in half, sewing it up at the sides, leaving ...

Soft determinism Essay Example | Topics and Well Written Essays - 500 words

Soft determinism - Essay Example Freedom, in this case, can be defined as the ability to act without external impediments, which allows an individual to forbear and do as he wills (Trusted 24). In addition, it is also the power for an individual to act in the manner in which his will determines, meaning that if one chooses to rest, he could either rest or move as he wills. Therefore, one is free unless they are forced to take actions that are not according to their will. Soft determinism differentiates between external and internal causes. The internal causes are those actions that are as a result of one’s inner desires and wishes, as well as those that result from one’s freewill (Trusted 39). For instance, a person may leave the country because of their desire to travel overseas. External causes, on the other hand, are those that an individual is forced to undertake due to outside influences, such as being forced to leave the country because of government action. The distinction between external and internal causes explains the reason why a soft determinist needs freewill. Acting with freewill in soft determinism means that one is acting as per his/her nature, rather than according to external pressures exerted upon their situation. This is referred to as the liberty of spontaneity theory, which is a central theme in self-determinism (Trusted 39). While man’s nature is also determined by external factors, he also has freewill b ecause they possess spontaneity freedom. Although circumstance and nature determine man’s choices, the option taken is as a result of free will. With regards to moral responsibility, if internal causes like desires and wishes have a significant impact on actions taken, one is considered to be morally responsible (Trusted 41). For instance, choosing not to save a burning child because one does not feel like doing so means they are morally responsible for the death of that child, while failing to do so because one is crippled means they are

Sociology Assignment Example | Topics and Well Written Essays - 500 words - 2

Sociology - Assignment Example Danish society has basically laid down the right foundation in caring for the elderly by imposing that the spouse is most responsible for the care of the aging partner. This is even supported by legislation and decreed that only the elder child within the household can assist the aging parent. By doing so, society is transformed in its view of the family – that is a permanent institution and members are obliged to fulfill such roles. Young people wanting to get married would think if they can really perform the roles their spouse need from them until old age. As for the Danish home care policy, it is a good working model of a society that has planned for its elderly citizens. In comparison with the United States, it cannot conceive and implement such policies since the healthcare system alone is in a mess. The Danish policy has long been planned and executed by the government which is a reflection of their priorities – healthcare. Since America is extremely preoccupied with external issues , it cannot sort out its own affairs and render good service to its citizens. The chapter about Muslim Iranians is also an interesting read since it presents how a minor culture ( Iranian )tries to assimilate to a more dominant one ( American). Growing old in another country like the case of Iranian seniors in California is quite stressful since psychological adjustment has to be made in order to fit in the host society. As mentioned in the text, â€Å"depression, loneliness, loss of sense of community â€Å"(p.304) affect the elderly. It is for this reason then that while still young, people begin to build their social networks. Nevertheless, the case of Babi is quite different as she had successfully assimilated in the American culture and had even found a new love. It is not luck that made her enjoy her golden years but her attitude to overcome the transcending scripts of culture that women should be just at home. However, it cannot be denied that

Kevin Mitnick Ethical Issues And Computer Hacking History Philosophy Essay

Kevin Mitnick Ethical Issues And Computer Hacking History Philosophy Essay This report deals in identifying the ethical issues of Kevin Mitnick and his computer hacking history and weather the accusations and they way FBI prosecuted his case were correct or not .Each of the issue raised would further be discussed by using the three ethical theories of Consequence-Based, Duty-Based and Character-Based. Apart from that the general role of a computer professional will also be described later on in this report in terms of using their knowledge and expertise in terms of hacking. Hence this report will be divided into two parts the first part focusing on highlighting the ethical issues and his prosecution and second would deal with the computer professional part. A detail description of his history of hacking is mentioned in the case scenario which will be described later on in the report. Firstly a brief introduction of ethics and its three theories would be discussed which will make it easy to understand and to implement it on the Kevin Mitnick case. Ethics has been described in many ways by different people over the history including same great Greek philosophers such as Socrates, Aristotle, and so on. Greeks mostly defined ethics as the study of what was good for the infidel and the society. The easiest way to describe ethics would be differing and reflecting a human being character in terms of what is good or bad, right or wrong, fair and unfair, responsible or irresponsible. It will lead a human being moral character to be in good conduct. Ethics can also be referred as to what humans are suppose to do if they follow the prescribe standards of right and wrong, which normally would lead him in terms of rights, his benefit to society, his obligations etc. Also ethics and can be referred as studying of moral character of human being and developing it to an ethical standard.[1] Ethics begins when elements within a moral system conflict.[1]  ¿Ã‚ ½Ethics exists in many forms in branches, literatures, eras, traditions. All of them following the root hub of ethics but the form of ethics which is highlighted and followed in our case study for this report are what is called Cyberethics. Cyberethics To understand the meaning of cyberethics a person should be aware of the term Cybertechnology. All the devices used in modern era in the field of cyber space such as hand held devices, personal computers, mainframes, networks and mainly the Internet can be termed as a part of Cybertechnology.  ¿Ã‚ ½Cybertechnology in terms refers to a broad spectrum of technologies that ranges from stand alone computers to the clustered of networked computing, information and communication technologies ¿Ã‚ ½ [2] Different definitions of cyberethics exists mostly dealing with ethical issues with certain type of online activities for e.g. pornography, gambling etc. It can be referred as certain types of laws which are not monitored by the judicial or law governing bodies but from and individual himself which go beyond his moral values which would be something different from cyber law which has to governed and monitored by a governing body.  ¿Ã‚ ½Cyberethics can be defined as the field of applied ethics that examines moral, legal and social issues in the development and use of Cybertechnology ¿Ã‚ ½ [2] Ethical Theories Since this report has to follow certain type of ethical theories in order to identify the ethical issues a brief description of each one of them has been mentioned below. Consequence-Based As the name suggest consequence based theories produces the most desirable outcomes for it member morally. The providing of ultimate standards for consequence of actions against which the moral decisions were evaluated is highlighted in this theory. The goodness or right identified by consequence would be something regarded as Consequence-Based ethical theory which gives some outcome for someone. But whose outcome would be the question here that who should benefit from this outcome? This argument has mostly been provided by some big Utilitarian thinkers such as Jeremy Bentham, John Stuart Mill, and Henry Sedgwick etc. The argument provided by them normally follows the theory that an act of some individual or a whole social policy would be acceptable if it ¿Ã‚ ½s providing great benefits for a majority of individuals which would be affected with the given policy or from the provided act by the certain individual. ¿Ã‚ ½Jeremy Bentham states that  ¿Ã‚ ½ People are driven by their interests and their fears, but their interests take precedence over their fears, and their interests are carried out in accordance with how people view the consequences that might be involved with their interests. Happiness on this account is defined as the maximization of pleasure and the minimization of pain ¿Ã‚ ½. [3] This form of ethics mainly explains that whatever happen sand outcome or result is achieved should be in a favor of large number of population rather than that of a certain minority. They should provide happiness to everyone rather than just one person who would be satisfied when a certain kind of act is performed. Duty-Based Duty based Ethical theory is something which gives the concept of Deontology derived from the Greek word Deon which means Duty. The concept of Deontology is the approach in which goodness and right would be achieved by studying the act of an individual or social policy rather than the consequence which its leads too. Immanuel Kant was one of the Deontological thinkers who always criticized Utilitarian thinkers saying that morality must be defined as the duty of an individual to one another rather than consequence which are produced when a certain individual performs a certain type of action. He said happiness is not the concern in terms of morality. He said that it was the motives and goals of a human being which made him to choose right or wrong rather than the consequences. W.D Ross another deontological thinker argument is  ¿Ã‚ ½Utilitarianism seems to simplify unduly our relations to our fellows. It says, in effect, that the only morally significant relation in whom my neighbors stand to me is that of being possible beneficiaries of my action. They do stand in this relation to me, and this relation is morally significant. But they may also stand to me in the relation of promise to promisor, of creditor to debtor, of wife to husband, of fellow countryman to fellow countryman, and the like; and each of these relations is the foundation of aduty ¿Ã‚ ½[4] So in short a Duty-based approach leads us to a conclusion that morality of a human being would be carried out by the acts he perform which would justify if he ¿Ã‚ ½s right or wrong. His Duty toward honesty, Justice, violence etc is what will be regarded his moral duty rather than himself being happy if he tells a lie. Character-Based Character Based theory reject the first two theories which focus on consequence or an act, instead this theory focuses on an individual character and is also mostly known as Virtue Ethics. Its main concerns are with individual ¿Ã‚ ½s moral character and don ¿Ã‚ ½t rely on duties and consequences. It has a very old history which rages back to great Greek philosophers like Aristotle and Plato who argued that each person has to obtain a right virtue since each of us will have a certain virtue in him which will be his strength or excellences which will lead towards a good or bad moral character. Virtue ethics is somewhat which can be called as agent oriented rather the first two which are action oriented or rule oriented. The main question of what a virtue ethics would be follow in a certain type of situation in which he or she has to perform an action and weather the individual has to do it or not instead it would go the other way around seeking the information of what kind of person I should be?.  ¿Ã‚ ½It is only by means of this idea [of virtue] that any judgment as to moral worth or its opposite is possibleEverything good that is not based on a morally good disposition ¿Ã‚ ½is nothing but pretence and glittering misery ¿Ã‚ ½ [5] Background Our case study focuses on a person named Kevin Mitnick who was the first hacker in computer to reach the FBI most wanted listed. He was arrested on Feb 15 1995 by FBI in which he was accused of number of acts which included breaking into computer systems and networks all over the world and altering information which lead the company to invest into new security measures and also for the charge of violations of his terms and conditions on the period of probation for his previous computer crimes. He was caught by the help of a Japanese computer security expert Tsutomo Shimomura whose system is said was hacked by Kevin Mitnick in San Diego Supercomputer Center which made him furious in tracking and helping the FBI. His hacking started in his school days where he got fascinated with computers in a computer class. His passion of technology made him learn quickly and he soon managed to Hack LA public school districts computer. At age of 17 he Hacked into Pacific Bell and altered phone bills. Same year he gain access to information valued at $200,000 for a San Francisco Company. Caught and prosecuted earned him a probation of 6 months. During that period he again hacked into the judge and probation officers and judge phone disconnected and bills accredited. Interestingly the police caught the system has been accessed from outside but nothing showed up in their database. He also hacked into NORAD a missile monitoring company in states. Obviously this one could have had catastrophic effects .In 1988 he was accused of two crimes one of them was of accessing a MCI network for long distance call and second stealing a computer system which caused damaged of up to $4 million for a company. For this reason the judge decided to put him on jail without bail. During his bail attempts prosecutors presented evidence of him breaking into National Security Agency computers and also that a false story being printed that a bank lost $400 million in first quarter of that year. This happened just after 4 days when Mitnick was denied a job in that bank. Finally Mitnick pleaded guilty and was sentenced to jail for 18 months and 3 years of probation. In 1992 FBI suspected him of hacking into Pacific Bell of which evidence was found later on which made Mitnick flee from FBI. Evidence of altering driving license record to set up a false identity was retrieved. In this period the police came up to very close encounters of arresting him but Kevin always managed to move on. Finally being found and arrested in 1995 was charged with various new crimes and violation of his parole. He was Denied bail and it was ensured that there was no equipment of computers handed to him in jail so he could commit more crime. Phone calls were closely monitored and in 1997 Mitnick pleaded guilty and was sentenced to jail for 22 months for charges of accessing phone system in order to get free long distance calls and then a 3 years probation period in which he would stay away from anything  ¿Ã‚ ½Hi-tech ¿Ã‚ ½ Most of his crimes still remain unsolved and he was released in January 2000 and expiration of probation in 2003. [6][7][8] Ethical Issues The ethical issues for the given case study and their discussion from the above discussed theory are highlighted and discussed below. * Hacking into a number of companies and accessing their computer networks and gaining access to unauthorized files or data. Was it ethical to gain access of such files or data or merely breaking into a computer network? Applying the consequence based approached breaking into a computer network or gaining access to secure files only benefited Mitnick and no one else. According to utilitarianism the majority must gain happiness on the base of a consequence but in this case it Kevin himself who gained happiness and not the majority hence this act would be regarded as wrong for Kevin that it was not ethical for him to gain or break into a computer network The duty based approach and deontology theory would easily say it ¿Ã‚ ½s wrong. By his acts it can concluded that is not right to gain access to another computer networks. That is stated in the ten commandments of ethics as well which was defined in 1992.All Company would have secure files and data and would not be wanted to breached by an outsider. Hence it was completely wrong by Mitnick to do so. Character Based approach in Kevin ¿Ã‚ ½s case would want him to break into computer networks for his passion of technology and the sake of fun. His thirst for knowledge still exists and breaking into these computers made him gain more knowledge which was more fun for him. But morally this was wrong. By virtue ethics he should have chosen the right path rather then this wrong path. Hence it was still unethical for him to break into computers. * In his hacking history Kevin never gained any financial outcome but instead he did it for the sake of challenge or sometimes to extract revenge on people .So was it ethical to do so and to take such challenges or seek revenge from people? Consequence based theory would again say  ¿Ã‚ ½No ¿Ã‚ ½ in this case merely of the fact that extracting revenge from some people or winning a challenge to prove your ability would just be beneficial for Kevin himself which in this case would be a minor individual and will be happy himself only. The majority of people would not be happy from this outcome. Duty based approach would say seeking revenge or damaging or doing unauthorized things of which you ¿Ã‚ ½re not authorized to do would again lead to  ¿Ã‚ ½NO ¿Ã‚ ½. Mitnick was not supposed to do it since it not an act which an individual is suppose to do. Character-based or virtue ethics justifies to pick good habits of your moral character and leave the odd one behind to be a good human being and in this case doing good for yourself by causing harm to others isn ¿Ã‚ ½t something good for and individual characters and in this case Kevin Mitnick. * Hacking into his school district computer system and Pacific Bell for altering Phone Bills. Was it ethically right for him at age 17 to break into a computer of his school and in pacific bell to alter phone bills? Consequence approach would again say NO since he did it for himself again in this case .The Benefit of this hack was for his own good and not for anyone else. Especially the alteration of phone bills is going to create losses for the phone company which might turn up into large numbers as well. So it was completely wrong in doing so. Duty Based approach applied on this issue would again lead to the conclusion of  ¿Ã‚ ½No ¿Ã‚ ½ since there is no act or policy which would suggest Kevin to break into school system or into phone company to alter his phone bills. Based on the outcome of his acts he was totally wrong in do so again. Character Based approach would again lead to the fact that morally as an individual he knew it was wrong in doing so but again he preferred to adopt his bad habit in this case which was again wrong and lead to such an outcome hence it ¿Ã‚ ½s a  ¿Ã‚ ½No ¿Ã‚ ½ again. * Being on probation for his conviction Mitnick got his parole officers phone disconnected and altered the computer record of the judge of his case in a credit service computer .Was it ethical for Kevin to do such an act ? Applying Consequence based approach it ¿Ã‚ ½s again going to lead to the fact of  ¿Ã‚ ½No ¿Ã‚ ½ because the result of this act was something bad for his parole officer and the judge. It was an act done by Kevin for his own satisfaction that was the minority in this issue and being in probation he should have avoided such consequences which he didn ¿Ã‚ ½t. Duty Based again would not support Kevin in this issue. His act was defiantly wrong in this case because the judge could have had bad impacts and the parole officer must have been unhappy to and misguided due to Kevin acts. And being on probation one shouldn ¿Ã‚ ½t go against the law but Kevin did for his personal vendetta. Character based theory wouldn ¿Ã‚ ½t allow someone ¿Ã‚ ½s moral character to take revenge and hurt someone else which in this case again leads to  ¿Ã‚ ½No ¿Ã‚ ½. Hurting someone for the sake of revenge is what would be considered a bad habit or an act leading to something which would not be regarded as morally good and if u knows that the law is restricting you from something a good moral character wouldn ¿Ã‚ ½t want someone to go against the law to seek his own happiness. * Convicted Stealing software from a company in Santa Cruz, California and no conviction record was on FBI database. Was it Ethical to steal and alter records? Consequence based theory wouldn ¿Ã‚ ½t allow stealing or altering to be me permissible. Stealing is something which would not be allowed in any circumstances and even if we assume it does it wouldn ¿Ã‚ ½t be something beneficial for majority in this case the California Company and the alteration of record of FBI. This time as well it ¿Ã‚ ½s  ¿Ã‚ ½No ¿Ã‚ ½. Duty based will not support an act of stealing or altering which won ¿Ã‚ ½t be regarded something as good so this time even in comparisons of acts it ¿Ã‚ ½s a NO from this point. Character Based would say that stealing to be considered as one of the bad habit of a human being and alteration of record can be considered of something as manipulation of record and in this case of a bad deed which Kevin was convicted so it ¿Ã‚ ½s a  ¿Ã‚ ½No ¿Ã‚ ½ this time as well. * Breaking into North American Air Defense Command (NORAD) missile defense system. Was it ethical for him to break into a defense system of a country? The first approach of Consequence Based would hugely argue because gaining access to such delicate system could have catastrophic affects on millions of people. Harming or altering of those files would have been really dangerous. So it ¿Ã‚ ½s a  ¿Ã‚ ½No ¿Ã‚ ½ again. Second approach of duty based wouldn ¿Ã‚ ½t allow any such policy or rule for an individual to again access to such delicate system cause of the dangerous outcomes it can lead it into hence its  ¿Ã‚ ½No ¿Ã‚ ½ again. Third approach of Character based would not consider it to be a good habit of one moral character in doing so because it would harm so many people so it ¿Ã‚ ½s a  ¿Ã‚ ½No ¿Ã‚ ½ from this point of view as well. * Charge of two new crimes: Accessing MCI network for long distance calls and causing $ 4 million damage to Digital Equipment Corporation. Was it ethical to illegally access MCI and cause damage of worth $ 4 million to a company? Consequence would say  ¿Ã‚ ½No ¿Ã‚ ½ cause again the minority gets benefit from this case that is Kevin and not the majority Both of them MCI and Digital Cop lost lots of money because of this act performed by Kevin who were the majority in this issue . Duty Based wouldn ¿Ã‚ ½t support Kevin as well cause because of this both those companies had to face huge losses from the act that Kevin had performed. No such policy or act would be permissible for any individual in the world to do so. Hence  ¿Ã‚ ½No ¿Ã‚ ½ is the answer Character based would again regard this as  ¿Ã‚ ½No ¿Ã‚ ½ cause as stated above again and again alteration of records and damaging files and causing harm to others would be regarded as a good deed or good habit so it ¿Ã‚ ½s a  ¿Ã‚ ½No ¿Ã‚ ½ again. * Judge denied him bail and ordered him to be held in jail? Was he ethical in doing so? This period lasted for eight months in solitary consignment for Kevin. Consequence based might support this act of judge because Kevin was causing harm to large majority of people but putting him on solitary consignment for 8 months without bail and from the fact that it was not proven at that time that Kevin had committed those acts was a bit harsh on Kevin. So it ¿Ã‚ ½s a split decision I guess. Duty based would support the judge too cause he was causing harm to major companies and people but still the decision was too harsh for Kevin cause he deserved a trial at least .Everyone does. Character based would not support the judge since it was a fact the Kevin was notorious but he deserved a trial and even if the judge thought he didn ¿Ã‚ ½t, putting him in solitary consignment prison was totally wrong. A normal jail would have been alright to stop Kevin from his notorious activities but solitary consignment was something very wrong and very harsh. * Kevin fleeing from the authorities on a number of occasions for two years and using fake identities to hide himself from the authorities during his probation. Was it ethical for him to do so? Kevin did for his own good and during this period he caused damaged to majority with his notorious activities so consequence Based would support him on this issue. Duty based would also not support him since it ¿Ã‚ ½s not right to take misguide law by using fake identities and stay on a run for two years. Character based wouldn ¿Ã‚ ½t support him to since it ¿Ã‚ ½s not right for someone to take law in his own hands and using fake identities by damaging other people identities to keep yourself. It ¿Ã‚ ½s a definite  ¿Ã‚ ½No ¿Ã‚ ½ since it ¿Ã‚ ½s not a good deed * Was it ethically right for Shimomura to help FBI in catching Kevin? All the three theories of character duty and consequence based would support Shimomura in this issue its ethically right for anyone to help the law to catch someone who has been causing harm to the community. And it was morally right for every individual to help to catch Kevin. * After being caught Kevin was held in Federal prison from 1995 to 1997 without bail and without trial by the FBI. Was it ethically right to do so.? Consequence would again support the FBI since Kevin was harm to many firms companies and people but only if Kevin was charged after trial to stay in prison. Duty Base shouldn ¿Ã‚ ½t support this act of FBI since they were laws by now to convict Kevin but FBI didn ¿Ã‚ ½t even allow a fair trial to run which is not supported so YES| they were ethically wrong in doing so. Character Based wouldn ¿Ã‚ ½t support the FBI too since it ¿Ã‚ ½s not right for anyone to stay in prison for a period of 2 years without bail or trial. At least a trial should have been offered to Kevin and then if found guilty he should have faced what he deserved. Role of a professional A professional is someone who holds a degree in a particular field in terms of education and then uses his expertise in his relative field and makes sure that his professionalism follows the code of ethics which will include terms such as Behavior, sociality, confidentiality etc. When a professional is hired somewhere a contract and a bond is created between the two to follow certain acts and rules or policy within the organization and one of them is the security concern of misusing the data of an organization Organizations related to Information Technology or having the IT dept within them also maintain a policy between their engineers and themselves. In our particular case the role of a software engineer, hardware engineer or an application engineer they should follow those rules and policies but also IEEE CODE OF ETHICS which is the main source of ethics code for any IT professional which should be followed by any professional related to the field of information and technology and in our case being software, application and hardware engineers [9] Usage of knowledge for Hacking by a professional In regards to using their knowledge for hacking can be something quite disastrous. If we take each of them individually and start with the hardware engineer obviously he can use it the right way or the wrong way since hardware devices manually build are quite useful in hacking mainly portable devices something like which Kevin Mitnick used for hacking into McDonalds drive through system. But is it right for them to do so and the answer is obviously no cause it ¿Ã‚ ½s against the code of ethics which exists in many forms related to cyber technology Same goes to a software engineer and application engineer cause software and application level technical support is quite useful to build or modify codes of a program and make it useful for something negative which is obviously something which would not be appreciated in our society because it ¿Ã‚ ½s going to be harmful to many . . But can all this knowledge be used in a positive way? Can hacking be positive? The answer to this question is yes and is something what is called ethical hacker. Ethical Hacker vs. Hacker: Hacker being the one using his knowledge on the darker side tries to break into systems. While a Ethical hacker is someone who does what is called penetration testing and hacks into systems just to identify security flaws and then inform companies to secure those flaws and sometimes providing them with solutions to those flaws as well but he has normally doing it for a security firm who is licensed to do so and has the right or permission of doing so .An individual if doing it all alone by himself would be considered to have committed a crime..To stop or catch a hacker is what can be called ethical hacker as well. In our case study Tsutomu Shimomura is an ethical hacker who used his knowledge to catch a hacker Kevin Mitnick. Kevin Mitnick also nowadays is an ethical hacker who runs his security company and does penetration testing for various organizations but this time having his rights to do it in a legal way and gets paid off well for doing so. Conclusion Information technology has had good and bad impacts as any other technology in the world. In the world of Cybertechnology hacking is the negative side. Kevin Mitnick curiosity for technology lead him in Hacking but what started out as the sake of fun did turn up to be quite disrupting when converted into major form. However being a bit realistic the Decision of FBI holding him solitary confinement for 8 months without bail and trial would be something regarded as unfair for a guy of Kevin caliber since it ¿Ã‚ ½s quite clear that he was a genius. And if a genius is treated this way his bound to go on the run when FBI suspects him later to be committing that crime again even though if he ¿Ã‚ ½s not committed the crime he would be afraid of facing the same thing without bail and would want to run away from it. Psychologist has stated in the documentary movie  ¿Ã‚ ½Freedom Downtime  ¿Ã‚ ½Life of Kevin Mitnick ¿Ã‚ ½ that it was an event which will want each individual to run awa y and that ¿Ã‚ ½s what made him run. And then obviously his bad part took over him of which he evaded FBI for two years. Then again being caught Kevin did not get bail or a trial for 2 years since 1995 and 1997 was again wrong. If Kevin did something wrong he should have been punished after a fair trial which he wasn ¿Ã‚ ½t granted. Besides Lawyer stated in that movie that even murder ¿Ã‚ ½s get bail and trial why not Kevin? Kevin did deserve to be punished for his acts since they were totally unethical at the time but if FBI had use the law in a sincere way maybe Kevin wouldn ¿Ã‚ ½t end up that way and Kevin would have only been sentenced for the time period he deserved. An interesting part of American judiciary is that Kevin is the longest held person in history without trial or bail which can be figured out as to be totally unfair for him. After his sentence and probation of 3 years ending in 2003 Kevin has started a security consulting company and is now offering a role of ethical hacker and using penetration testing to check his clients security flaws and using the code of ethics quite well. His professional approach towards his clients and himself leads us to the fact that he has been using his knowledge now in a positive way to secure his reputation and prove to the entire world that he ¿Ã‚ ½s genius.