CURRENT ISSUES IN FINANCIAL REPORTINGED IFRS7 Essay

CURRENT ISSUES IN FINANCIAL REPORTINGED IFRS7 - Essay Example (IFRS News 2006). In addition, the IFRS also deals will amending the existing risk disclosure requirements for other insurance contracts of the IFRS 4. Recently, most companies and huge industries in the United States and Europe has come to comply and revised their system in order to adapt their system into the new field of financial strategy. This means that these financial instruments are also applicable to financial and non-financial institutions. This is because the extend of the disclosure strictly requires the dependency of the institution's extent of their entity's used of their financial instruments and its exposure to its risk. One example that can define this explanation is the loan commitment (as an un recognized financial instrument). Prior to any information being disseminated in the institutions, it was announced that the latest disclosure requirements are applicable for periods starting before on after 1 January 2007 (IFRS News, 2006). Through this, all of the institutions are encouraged to submit their application. We all know that there are a lot of financial instruments, which have been designed for various institutions and will all of these; one of the most distinct assets that the IFRS 7 holds amongst of them is that has a way of providing boundaries to financial institutions which can help them protect and at the same time sustain their financial operation. Also, since it was implemented to disclose their financial records, the IFRS 7 allows them to have a further understanding on how each institution can further generate a more profitable income for the next five years. At some point, this method works in favor for the institutions. One of the unique and interesting features that I found regarding this was that it is distinctly divided into two sections. The first covers disclosures are about the figures in the balance sheets or income statements, while the other deals with the risk disclosure. (IFRS News, 2006). From this division, we can see that there is a unique way of approaching the financial aspect of the each institution, such that the second section is the one who solves or takes charge with the risk disclosures that normally and consistently arise from a financial instrument, giving the approach and the system, an eye to oversee the whole situation, through the perspective of the management. Furthermore, the information, which was provided for disclosure and also for the main personnel in the management division, is the one that disclosed the information. This new scope or system of developing the financial instrument is quite interesting such that for the past years, if we would look into the picture and scenario of businesses and corporations that have probably was on the top chart once in the business reviews and then suddenly disappeared, or have lost their momentum into the big picture, have a common analogy and reason behind the collapse of their institution, can be rooted mostly from the dysfunction in the management system with regards to their perspective on financial stability. Thus, since the IFRS 7 holds the new method

Organizational behaviors management term project - Panda Express Paper

Organizational behaviors management project - Panda Express - Term Paper Example The menus in this restaurant brought to America the flavors of Szechuan and Mandarin cuisine. These same menus became the inspiration and standard for all the Panda Express restaurants that are known and loved in the wide America. The making of quality meals with fresh and premium ingredients besides being served fast and hot was one competitive advantage Andrew identified and utilized to the fullest. The result was the tremendous growth of the Panda Express chain of restaurants not only in the United States but the world over (Fox77). Our group’s selection of the Panda Express chain of restaurants out of our love for authentic Chinese cuisine and our being intrigued by how fresh and fast the food is constantly cooked and served. A majority of the group members have had meals at the Panda Express restaurants and realized that the quality of the food is uniformly of a high quality. Our love for authentic, or fairly authentic, Chinese cuisine seems to have travelled with us from China to the United States. It was a unanimous decision among the group members who, having eaten at several Chinese restaurants across the United States that claimed to offer authentic cuisine, all decided that only the cuisine found at the Panda Express chain of restaurants lived to its name (Grenway 44). ... The latter is to expose the Chinese citizens firsthand to American-Chinese type of cuisine which is excellent (Filipova 45). The main goal of the group is to find out how Panda Express is able to serve such high quality food at its characteristically fast pace yet retain the fine features of a dining eatery. The aim of group is of the opinion that the managers utilize the rush hours besides having active communication skills with their subordinates to create an excellent customer experience (Tosi and Pilati 109). The aim is to research into the managers’ use of leadership, motivation and employee engagement skills in forming a group of hard-working employees with the restaurant’s aim in their hearts. Another aim is to find out the managers’ daily activities that contribute to the success of the restaurant chain and push the employees to willingly outdo themselves in their service (Griffin and Moorehead 40). What also evoked our curiosity was the fact that some me mbers of this group eat at the Panda Express restaurant on the campus premises once to four times each week and always find the food freshly cooked even with the high demand for the food which always seems to improve in taste (Sharma 73). Hypothesis The group’s belief is that managers use leadership skills acquired from outside the restaurant chain or gained at the restaurant to instill a sense of urgency among the employees and then set cooking or serving goals that have always outdid the demand from customers. Among the leadership skills most likely driving the success in the restaurant chain are conflict resolution among the employees and management, quickness of thought to invent better services and the accuracy of predicting rush hours to utilize the large number of customers