Overview of American Heroes Cost of Living Allowance Act

American Heroes Cola Act American Heroes Cola Act Introduction A House subcommittee had made the moved Wednesday April 18, 2012 to remove a small bit of doubt regarding the cost-of-living adjustments in veterans disability and survivor aids by passing a bill that would deliver automatic yearly increases that would actually start the beginning of next year. This paper will provide a comprehensive overview of f HR 4142: The American Heroes Cost of Living Allowance (COLA) Act. Part A: Legislation and Political Context: What is the Elevator Speech Overview? The American Heroes COLA Act came into fruition on Wednesday April 19th, 2012. The House Veterans Affairs Subcommittee on Disability Assistance and Memorial Affairs (DAMA) agreed to pass two bills that affect veterans benefits. There is slight doubt that under present law, veterans are getting the same COLA that is going to Social Security recipients. Once a year since 1983, Legislature has voted for, and the sitting president has authorized, a bill that guarantees that veterans disability payment and survivors dependency and security reimbursement increases on Dec. 1 by the same percentage as Social Security. American Heroes Cola Act would requires the Secretary of the Department of Veterans Affairs to automatically increase the rates of veterans disability income, compensation for dependents, clothing allowance, and reimbursement for veterans surviving next of kin and children at the same rate that SocialShow MoreRelatedProject Mgmt296381 Words   |  1186 PagesChapter 1 Modern P roject Management Chapter 8 Scheduling resources and cost 1.2 Project defined 1.3 Project management defined 1.4 Projects and programs (.2) 2.1 The project life cycle (.2.3) App. G.1 The project manager App. G.7 Political and social environments F.1 Integration of project management processes [3.1] 6.5.2 Setting a schedule baseline [8.1.4] 6.5.3.1 Setting a resource schedule 6.5.2.4 Resource leveling 7.2 Setting a cost and time baseline schedule (1.3.5) [8.1.3] 6.5.2.3 Critical chainRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesWork–Life Conflicts 21 †¢ Creating a Positive Work Environment 22 †¢ Improving Ethical Behavior 22 Coming Attractions: Developing an OB Model 23 An Overview 23 †¢ Inputs 24 †¢ Processes 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About Organizational Behavior? 4 Myth or Science? â€Å"Most Acts of Workplace Bullying Are Men Attacking Women† 12 An Ethical Choice Can You Learn from Failure? 24 glOBalization! Does National Culture Affect OrganizationalRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesstrategy development in the ï ¬â€šavours and fragrances industry. Key: ââ€" Ã¢â€"  = major focus ââ€"  = important subsidiary focus ECS8C_C01.qxd 22/10/2007 11:54 Page 603 A GUIDE TO THE CLASSIC CASES ON THE COMPANION WEBSITE 603 CASE Coors – an American brewer moves into the UK market. Barclaycard – a market leader’s strategic options for maintaining market dominance. GSK – the wisdom of mergers for a global pharmaceutical giant. Brewery Group Denmark – how a small player survives in a globalisingRead MoreDeveloping Management Skills404131 Words   |  1617 Pagestoo quickly, stay up too late, get too tired, read too seldom, watch TV too much, and pray too seldom. We have multiplied our possessions, but reduced our values. We talk too much, love too seldom, and hate too often. We have learned how to make a living but not a life; we’ve added years to life but not life to years. We’ve been all the way to the moon and back but have trouble crossing the 4 INTRODUCTION street to meet the new neighbor. We’ve conquered outer space but not inner space. We’ve

Essay on Imperialism From Europe to The West - 1514 Words

Early in the twentieth century, imperialism was brought up by European powers of the time; Germany, Great Britain, France, and Russia. These nations were after raw materials in Asia, Africa, and South America and when they realize that they could not retrieve it, they began to colonize smaller counties that contain the many resources they need and used it for their benefit. Western values played a big part in European imperialism. European civilization experienced a period of extraordinary rapid expansion worldwide during the nineteenth century and the twentieth century. European nation-states had become very powerful because of industrialization. Imperialist projects will unite European industrial power with smaller nation-states. The†¦show more content†¦The economy was an important role in British imperialism. Industrializing meant that they would have more power to rule other parts of the world. Many large factories demanded more raw materials so the British decided to c olonize over smaller nations to use their resources. Technology also had a huge impact on imperialism during westernization; it made imperialism more efficient. Steamships were built so importing and exporting goods would be easier and faster. Also, weapons and modern medicine made military invasions a lot easier. Not only was the technology better, but technology can quickly produce mass quantities of products more efficiently. Technology was power and whoever had technology had power. Technology in Europe opened a new door to industrialization. With technology came power and Europeans started to believe themselves that they were the â€Å"bearers of human rights, law and justice, reason, education, technology and industry, enlightenment† (Whittier.edu). Racism and national superiority including Social Darwinism made it seem as if white men were better and had dominance over every other race (Western Imperialism). A strong nation would overpower the weak and would be obligat ed to take over and help the weaker nation if it was necessary (European Imperialism in the 19th Century). In the poem, â€Å"The White Man’s Burden† by Rudyard Kipling, the author addresses this directly to the Americans and the Philippines about how the EuropeansShow MoreRelatedSummary : European Imperialism Dbq1278 Words   |  6 Pages Courtney Sloan 3/4/13 1st European Imperialism DBQ Part A 1. According to the author, the colonies received benefits from the â€Å"modern progressive nations† such as being able to yield tropical produce, receiving foodstuffs and manufactures they need, and having their territory developed by the addition of roads, railways, canals, and telegraphs. They also have theRead MoreThe Invasion Of India And The Indian Government990 Words   |  4 PagesImperialism swept across the world following the Industrial Revolution as trade opened up transcontinentally and capitalism became the driving economy of Europe. England expanded its influence to Africa as did Belgium and France. A scramble for Africa occurred, with England fighting for dominance over China as well. As invasions and wars began in Africa, China dealt with the British opium trade and its effect on the Chinese people. Imperialism had varying effects on these different countries andRead MoreEssay about The Pros and Cons of Imperialism540 Words   |  3 Pagespolitical or cultu ral life is called as imperialism. Imperialism is often separated into two sects. The first one is old imperialism, which was the period from the 1500s to the 1800s, where European nation started to colonize many areas such as the Americas, and parts of Southeast Asia. On the other hand, the new imperialism was the period between the years â€Å"1870-1914†, where Europe became more focused on expanding their land into Asia and Africa. Imperialism had many pros and cons. In addition, itRead More Migration and Disease in Africa during European Imperialism Essay735 Words   |  3 PagesThe Relationship between Migration and Disease in Africa during European Imperialism During the era of European Imperialism, from approximately 1880 to 1930, an increasing number of Europeans began to colonize West Africa. Because of this colonization many African natives migrated eastward, inadvertently transporting diseases to which the East Africans were not immune (Ransford 76). This phenomenon can be explained through examining the implications of geographical isolation, theRead More Imperialism Essay1104 Words   |  5 Pages Imperialism was reborn in the West with the emergence of the modern nation-state and the age of exploration and discovery. It is to this modern type of empire building that the term imperialism is quite often restricted. Colonies were established not only in more or less sparsely inhabited places where there were few or no highly integrated native states (e.g., North America and Africa) but also in lands where ancient civilizations and states existed (e.g., India, Malaya, Indonesia, and the IncaRead MoreWhat attracted Europe an imperialism to Africa to Asia in the late nineteenth century.1585 Words   |  7 PagesMortimer Chambers et al define imperialism as a European state s intervention in and continuing domination over a non-European territory. During the Scramble for Africa in the late nineteenth century, the most powerful European nations desired to conquer, dominate and exploit African colonies with the hope of building an empire. According to Derrick Murphy, in 1875 only ten percent of Africa was occupied by European states. Twenty years later only ten percent remained unoccupied. There wereRead MoreCompare and Contrast the Influence and Consequence of European Imperialism on Africa and China During the 19th Century.748 Words   |  3 Pagesconsequence of European Imperialism on Africa and China during the 19th century. Imperialism is when one country dominates the cultural, economic, and political life of a nation weaker than itself. In the 19th century, Europe was the nation that was dominating both China and Africa. There were quite a few similarities in the way that European imperialism was changing these nations. One important similarity was that both the nations had resisted against British imperialism at one point. HoweverRead MoreJapan and The Influence of Imperialism Essay1006 Words   |  5 Pagesin 1854. While it had a strict policy about maintaining its isolation, it had no choice but to succumb to imperialism. When Commodore Matthew Perry visited, Japan realized that isolation had resulted in their inability to develop economically and militarily with the industrialized world. Thus from 1854 to 1914, the Japanese changed from being under the influence of imperialism to becoming an imperialist nation, as well as coming out of feudalism and going to into modern militarismRead MoreEuropean Imperialism in Late 19th Century Africa1624 Words   |  7 Pages European Imperialism in Late 19th Century Africa: African Response and Effects Rafael Delatorre History 002B Professor Standish April 12, 2014 Between 1870 and 1914, European countries ceased about ninety percent of Africa. Native Africans faced political, military, and imperialism pressure from various European countries. After the end of the profitable slave trade in Africa, due to abolishing of slavery, Europeans explored forRead MoreThe Colonization Of Africa During The Late Nineteenth Century936 Words   |  4 PagesImperialism occurs when a strong nation takes over a weaker nation or region for economic, political, or social reasons. This type of foreign policy was practiced by European nations throughout the 1800s and early 1900s. Began in 1870s, Europeans started to colonize Asia and Africa by using military force to take control of local governments and exploited local economies for raw materials required by Europe’s growing industry. The takeover of Africa during the late nineteenth century has been known

The Mayans Free Essays

[pic] By Chandler Anschutz Standard to be covered by this project: Describe the diverse characteristics of early American Civilizations and societies in North, Central, and South America by comparing and contrasting the major aspects (government, religion, interactions with the environment, economy, and social life) of American Indian civilizations and societies such as the Maya, Aztec, Inca, Pueblo, and/or Eastern Woodland peoples. [pic] Rise and Fall of the Mayans The Maya people lived from 11,000 B. C. We will write a custom essay sample on The Mayans or any similar topic only for you Order Now to almost 1500 A. D. At 11,000 B. C. he first hunter-gatherers settle into the Maya Highlands. According to Mayans Long Count Calendar the creation of the world takes place in 3114-3113 B. C. In the year 2000 B. C. the Olmec civilization is on the rise, the root of many traditions in the Mayan Culture. 700 B. C. Maya people form a written language of a form of hieroglyphics. The Mayan script is logosyllabic combining about 550 logograms (which represent whole words) and 150 syllabograms (which represent syllables). There were also about 100 glyphs representing place names and the names of gods. Only about 300 of these glyphs were commonly used. In 300 B. C. the Mayans adopted the idea of a hierarchical society ruled by nobles and kings. The city of Teotihuacan is founded in 100 B. C. and becomes the center of culture, religion and trading in Mesoamerican for centuries. The Mayan people learned to farm the harsh tropical land. As populations grew, they adopted more intensive methods of cultivation including composting, terracing, and irrigation. They filled in swamps to creating fields and used silt and muck from bottomlands to fertilize enclosed gardens. Artificial ponds gave a place to hold fish, and corrals held deer and other game flushed from the forest. Their settlements grew into large city-states and with the city-states came large palaces and temples. They were very artistic; they made ceramics, murals, and sculptures. They understood the concept of zero and formed a very extensive hieroglyphic form of writing. Their year had 365 days to it and they even had made the leap year correction. They predicted solar eclipses, watched the stars, and even had their temples built so that at a certain time of year they’d face the sunrise or sunset exactly. The Mayans were led by Maya Kings, who got their power from the gods. They were both priests, interpreting religion and as leaders in times of peace and war. These kings would perform public rituals giving metaphysical meaning to the movement of the heavens, changing calendars, and even royal succession. Besides the spiritual rituals the Maya cities functioned just as a normal city would trading, fighting, making alliances, and gaining/losing land. Waka, a Maya city had become a large center of trade. Goods like jade, obsidian, and pyrite even made it to the Mayans. Waka also had a tributary to the San Pedro, it was sheltered and had room to lodge large canoes. The Mayans also invented a type of flak jacket. It was a cotton vest, stuffed with rock salt. A guy by the name of Fire is Born led an army toward Waka in means to gain reinforcements. Fire is Born was sent to conquer Tikal. With his new found reinforcements from Waka it took him a week to reach Tikal and conquer them. Fire is Born became the cities new overlord. Following Fire is Born’s take over of Tikal, Tikal itself started to expand. In the year 800 A. D. Cancun was overrun by invaders. These invaders took 31 royal hostages into the court yard, probably members of the royal family, and systematically decapitated every one of them. The king of Cancun was not spared, nor was his wife or children. The invaders took none of the riches or valuable items of the city, instead they defaced all of the monuments and toppled them face down. Almost every city was met by its end in this way or simply faded out of existence. Nobles abandoned palaces; even the homeless who had come to live in the palaces eventually abandoned them. The downfall of the Maya civilization can not be put of one simple yet terrible event. The collapse is due to many possible problems that could have damaged the empire. Resources grew scarce; kings with religious rituals lost their luster, leading instability and desperation to fuel destruction warfare. These problems may have been the cause of the fall of the Mayan civilization. There is not one exact known reason for the end of the Mayans and is for now still a mystery. |  [pic] |[pic]   |  [pic]   [pic] | |  IMIX |  IK’ |AK’BAL |K’AN | |ee mesh |eek’ |ok bol   |k’ on   | |waterlily, world |wind |night-house |maize | |  [pic] |  [pic] |[pic]   |  [pic] | |  CHIKCHAN |  KIMI |MANIK’ |LAMAT | |cheek chon |kee me |ma neek’ |la mot   | |snake |death |  hand |Venus | |[pic]   |  [pic] |  [pic] |[pic]   | |  MULUK’ |OK |  CHUEN |  EB | |mul ok’ |ak   |chew in |eb | |water |dog | monkey |tooth | |  [pic] |  [pic] |[pic]   |  [pic] | |BEN |IX |MEN |KIB | |ben   |eesh   |men   |keeb   | |reed |jaguar |eagle |soul | |  [pic] |  [pic] |  [pic] |[pic]   | |KABAN |ETZ’NAB |KAWAK |AHAW | |kah bon |ehts’ nob   |kah wok   |ah how   | |earth   |flint, knife |storm |Lord | These symbols were the symbols the Mayans used to represent the 20 days of their month. With each symbol are their Yucatec names, pronunciation and approximate translation. These are the Mayan words for units of time: Day = Kin (keen) Month of 20 days = Uinal (wee nal) Year of 360 days = Tun (toon) 20 Tuns = K’atun (k’ ah toon) 20 K’atuns = Baktun (bock toon) [pic] This is a picture of Hunab Ku. He is the supreme god of the Mayans religion. He is also the creator god. He is the Mayan equivalent for Greeks Zeus. Hunab Ku has power over the other gods. [pic] This is Cizin, the Mayan god of death. He would be a darker equivalent of the Greeks Hades. He requires a brutal sacrifice such of decapitation. Some of the religious rituals Maya Kings performed were sacrifices to this god to keep his wrath at bay. [pic] Kinich Ahau, the Mayan sun god. He brought the sun across the sky. He was an important god to the Mayans; they needed the sun to grow their crops. Sacrifices were also made to this particular god so he’d continue to bring the sun out. [pic] The Mayan god of rain and lightning, Chac, was also very important to the Maya. He brought rain to water the crops. Sacrifices were made to him to continue bringing the rain and to not use lightning against the Mayans. Chac played an important role in the Mayan religion. [pic] This is an ancient Mayan temple in Cancun. From the Mayan Classic Period, 300-900 A. D. this temple was used as a site for religious rituals. These rituals, performed by the king of the city, would have been sacrifices to the gods. Many gods were sacrificed to for the Mayans believed that the gods would be kind to them and help them if they had been sacrificed in return. [pic] This is a map of where the Maya Civilization lived. This part of the world is the southern end of Mexico and Guatemala. The sites shown on the map are locations of Mayan cities and villages. There were many of cities in Central America. [pic] This is a Mayan Ruins site. It’s the site of Tikal, a great city. Fire is Born conquered this city just a week after gaining reinforcements at Waka. This city later went on the offensive and expanded. [pic] These are the ruins of Chichen Itza. Chichen Itza was a large city of the Mayans. The temple would have been of great religious importance. Many a sacrifice would have taken place within those walls. [pic] This is a temple from Uxmal, an ancient Mayan city. This temple would have been used as a religious place used for rituals and sacrifices. Mayans sacrificed people to the gods in return for peace and aid with whatever happened to be the problem at the moment. Bibliography †¢ â€Å"The Mayan Civilization Timeline. † Mexconnect. 01 Jan 2008. Web. Jan 2010. . †¢ Criscenzo, Jeeni. â€Å"The Maya. † The Maya. Web. 8 Jan 2010. . †¢ Ager, Simon. â€Å"Mayan Scipt. † Omniglot. Web. 8 Jan 2010. . †¢ â€Å"The Mayan Calendar. † Web Exhibits. IDEA, Web. 8 Jan 2010. . †¢ â€Å"The Mayas. † Minnes ota State University. Web. 8 Jan 2010. . †¢ â€Å"The Mayas. † Civilizations in America. Web. 8 Jan 2010. . †¢ â€Å"Mayan History Timeline. † One World Journeys. Web. 8 Jan 2010. . †¢ â€Å"The Mayan History. † Mayan Indians. Web. 8 Jan 2010. . †¢ â€Å"The Rise and Fall of the Mayan Empire. † Science at NASA. Web. 8 Jan 2010. . †¢ Gugliotta, Guy. â€Å"Maya Rise and Fall. † National Geographic. 01 Aug 2007. Web. 8 Jan 2010. . How to cite The Mayans, Papers

Airline Industry And Impact Of Deregulation -Myassignmenthelp.Com

Question: Discuss About The Airline Industry And Impact Of Deregulation? Answer: Introducation AWB Limited was the major organization in grain marketing that was based in Australia. Formerly the company was the Australian Wheat Board that was regulated by the government. Thereafter it transformed itself into the public listed and integrated agribusiness. It held the monopoly position as it was the only grains and wheat exporter through single desk system. For this report the annual report of AWB Limited for the year ended 30th September 2009 is taken into consideration (AWB Limited 2018). From the annual report of the company it is identified that goodwill has been tested for impairment during the year. The carrying value of the non-current assets are considered for impairment test while changes or events in the circumstances signifies that carrying value of the asset may not be recovered. However, the asset from which the large cash flows cannot be generated independently then the recoverable amount for the cash generating unit (CGU) to which the asset is included is determined (Amiraslani, Iatridis and Pope 2013). While any significance of impairment is there, the CGU or the assets value is adjusted to the recoverable amount. Further, the goodwill is tested for the purpose of impairment more frequently or annually if any changes or events under the circumstances signify that carrying value of the asset may get impaired. For conducting the impairment test, the goodwill that is acquired in the business combination from the date of acquisition is allocated to the groups CGU that are projected to be benefitted from combination synergies (Edeigba and Amenkhienan 2017). This will be irr espective of the fact that of whether the liabilities are allocated to the units or not. However, AWB Limited allocated the goodwill to Stocklease Pty Ltd Temora Grains Pty Ltd Landmark Financial Services Landmark Copeland Medway Pty Ltd Landmark Rural Services Further, the impairment loss is determined through assessment of recoverable amount of CGU under which the goodwill is related (Cotter 2012). While the CGUs recoverable amount is lower as compared to the carrying amount. The amount of looses from impairment that are recognized are not reversed subsequently. The company recorded $ 119,715,000 as impairment loss under the income statement on account of goodwill for the year ended 30th September 2009. The financial statement preparation in accordance with the Australian Accounting Standards needs of using some critical estimates for accounting. It further requires the management to apply the judgements while applying the accounting policies of the company (Ifrs.org 2018). Key estimates used by the company for impairment testing is that the asset from which the large cash flows cannot be generated independently then the recoverable amount for the cash generating unit (CGU) to which the asset is included is determined. While any significance of impairment is there, the CGU or the assets value is adjusted to the recoverable amount. The carrying value of the long term asset are considered for impairment test while any changes or events in the circumstances signify that the carrying value cannot be recovered. Further, for estimating the provision of impairment is recorded while objective evidence is there that the company will not be able to collect the entire amounts due with regard t o the actual receivable term (Kabir and Rahman 2016). However, the actual result may vary from the estimates. Therefore, the underlying assumptions and estimates are reviewed on the ongoing basis. Further, any revisions to the accounting estimates are recorded under the period which is related to the revision of the estimates and the future affected period, if any. AASB 136 on impairment of asset states that this standard allows the creative accounting treatment by the user. It further seeks the subjective interpretation of the user that can be complied and adaptable by the requirement of the company as well as the management (Ramanna and Watts 2012). The term subjectivity stands for the users perception. As it can be identified the annual report of AWB Limited that the impairment test is conducted on the basis of certain estimates and judgements, there always exist the involvement of users subjectivity. Further, the goodwill is tested for impairment more frequently than annually while any significance is there that the recoverable amount will not be recovered. Therefore, the management can carry out the test during recession or economic downturn for showing more amounts on account of impairments loss and recording lower profits in the income statement of the company (ztrk and Seremeli 2016). This can be further established with the fact that w hen the fair value or recoverable amount is not determinable from the active market the recoverable amount is computed and assigned to CGU on the basis of judgements and estimates. The interesting fact of impairment that found while going through the annual report of AWB Limited is that the AASB 8 which is a disclosure standard have no effect on the amounts recorded in the financial statement of the company. However, it may have indirect effect at the level at which the goodwill is considered for impairment. Further, the amendments may impact the segment disclosure of the company. Further, the difficult part is that if the goodwill is considered for impairment test at more frequently than annually then which indication is to be given maximum importance for the purpose of conducting the test. In addition to these, another difficult part is that more than one recoverable values are determined based on the active market then which one is to be taken into consideration for computing the impairment test. For instance, if the value of business goodwill to one purchaser is $ 600,000 and to another is $ 625,000 then which one is to be considered is a matter of question . Some new insights of impairment gained while going through the annual report of AWB Limited. The 1st one is that the impairment loss for goodwill can never be more than its carrying value that is recorded in the financial statement of the company as goodwill. Further, the amount of impairment loss = value of the assets carrying amount recoverable value of the asset. Another new insight gained is that the impairment test is an ongoing process and the management always have to check on any indication that may signify that the asset may get impaired. The estimated fair values of the fixed assets are based on discounted value of the projected future cash flows. For fixed assets the valuation is made on independent basis and for other assets various factors like sales value of the asset as per the sales agreement, value of the asset as per the active market valuation and other available information are taken into consideration. Further, for the fair value measurement, the company follows IFRS 13 (Rennekamp, Rupar and Seybert 2014). The chairman of the IASB believes that the new change in the leasing agreement of the company will be making the companies more competitive in the business (Danjou and Walton 2012). The new standard is expected to bring about a change in the disclosures which will be the aspects more of making it more realistic in nature. As per the analysis of the companies around the world have around 3 trillion worth of leases which are widely spread across airline business, retail business and shipping business. The business under current standard on leases considers and labels their leases as operating leases. As per the estimates around 85% of the leases are labelled as operating leases which do not show any disclosures in the books of finance (Agrawal et al. 2012). These operating leases will be definitely be creating real liabilities, hence the chairperson is of the opinion that if the current accounting standard is allowed to operate than the economic reality of the company will not be revea led (Altamuro et al. 2014). As per the situation most of the business used the advantages of the current standard on lease disclosures which allowed these companies to report a lot lesser amount of leases in the financial statements as most of these leases were labelled as operating leases by these companies which enabled them to show a favourable balance sheet. Most of the companies would then show a small part of the leases which is considered healthy for the business in the balance sheet and the rest of the leases would be off balance sheet. As per the chairperson of the IASB, some of the companies which have significant leasing commitments but are still able to show a lean balance sheet due to the current standard in force (Colla, Ippolito and Li 2013). This is the reason why the company may have more than 66% of lease liability as compared to the debt which are reflected in the balance sheet. The chairman of the IASB is under the impression that the airline companies under the former standard of leasing were not on the same ground in terms of competition wise. The uses of leases by companies like airline industry, retail industry and shipping industry as mentioned by the chairperson of the IASB (Choi, Peasnell and Toniato 2013). An airline which leases more of its aircrafts will naturally have a better balance sheet than a company which is in the habit of purchasing these aircrafts. The balance sheet and financial obligations of the company which has purchased may not be that good; however the situation in the case of a company which leases the aircrafts which the business uses may not be in a better position either (You 2017). The reason for this is because that such companies recognizes the leases as operating leases and the airlines business shows a favourable financial statements which in reality may not be that good in terms of debts of the company. As per the new standard which is going to be introduced is going to have massive changes in how leases are treated and also on the disclosure requirements of the company. The new standard on leasing will ensure that all types of leases are recognized and recorded in the financial statements. In other words the new standard will be replacing and resolving the problems which were associated with the leasing agreements (Jennings and Marques 2012). Moreover the accounting under the new lease will be showing more economic reliability. The reason due to which the standard will be unpopular among the most of the listed companies is because this will change the environment and the companies will be needed to survive this sort of change. Moreover the standard robs them of the advantage which was provided earlier by the former standard. In addition to this the companies will be facing an increase in costs which such companies have to adjust to due to the introduction of the new standard (Morre ll 2013). The chairperson is of the opinion that the new standard will definitely increase the costs of the company but such an increase in the cost is worth the accountability and efficiency which the new standard on leasing is going to bring in the disclosure of accounts with concern to leases. As per the chairperson of IASB the new standard will be bringing better informed decision making process due to the points given below: Firstly the new standard is going to make all leases qualified to be recorded in the financial statements which will give the shareholders a better idea of the total debt which is taken by the business (Williams 2017). Usually the leases which are taken by the companies are always attached to certain risks. Thus the investors will have an opportunity to analyse the risks of the business before investing in the business. Reference Agrawal, V.V., Ferguson, M., Toktay, L.B. and Thomas, V.M., 2012. Is leasing greener than selling?.Management Science,58(3), pp.523-533. Altamuro, J., Johnston, R., Pandit, S.S. and Zhang, H.H., 2014. Operating leases and credit assessments.Contemporary Accounting Research,31(2), pp.551-580. Amiraslani, H., Iatridis, G.E. and Pope, P.F., 2013. Accounting for asset impairment: a test for IFRS compliance across Europe. Centre for Financial Analysis and Reporting Research (CeFARR). AWB Limited., 2018. [online] Available at: https://awblimited.com/ [Accessed 26 Jan. 2018]. Choi, Y.S., Peasnell, K. and Toniato, J., 2013. Has the IASB been successful in making accounting earnings more useful for prediction and valuation? UK evidence.Journal of Business Finance Accounting,40(7-8), pp.741-768. Colla, P., Ippolito, F. and Li, K., 2013. Debt specialization.The Journal of Finance,68(5), pp.2117-2141. Cotter, D., 2012.Advanced financial reporting: A complete guide to IFRS. Financial Times/Prentice Hall. Danjou, P. and Walton, P., 2012. The Legitimacy of the IASB.Accounting in Europe,9(1), pp.1-15. Edeigba, J. and Amenkhienan, F., 2017. The Influence of IFRS Adoption on Corporate Transparency and Accountability: Evidence from New Zealand. Australasian Accounting, Business and Finance Journal, 11(3), pp.3-19. Ifrs.org., 2018. IFRS. [online] Available at: https://www.ifrs.org/ [Accessed 26 Jan. 2018]. Jennings, R. and Marques, A., 2012. Amortized cost for operating lease assets.Accounting Horizons,27(1), pp.51-74. Kabir, H. and Rahman, A., 2016. The role of corporate governance in accounting discretion under IFRS: Goodwill impairment in Australia. Journal of Contemporary Accounting Economics, 12(3), pp.290-308. Morrell, P.S., 2013.Airline finance. Ashgate Publishing, Ltd.. ztrk, M. and Seremeli, M., 2016. Impact of New Standard" IFRS 16 Leases" on Statement of Financial Position and Key Ratios: A Case Study on an Airline Company in Turkey. Business and Economics Research Journal, 7(4), p.143. Ramanna, K. and Watts, R.L., 2012. Evidence on the use of unverifiable estimates in required goodwill impairment.Review of Accounting Studies,17(4), pp.749-780. Rennekamp, K., Rupar, K.K. and Seybert, N., 2014. Impaired judgment: The effects of asset impairment reversibility and cognitive dissonance on future investment.The Accounting Review,90(2), pp.739-759. Williams, G., 2017.The airline industry and the impact of deregulation. Routledge. You, J., 2017. The Impact of IFRS 16 Lease on Financial Statement of Airline Companies (Doctoral dissertation, Auckland University of Technology).