International accounting Essay Example | Topics and Well Written Essays - 2250 words

International accounting - Essay Example First Republic serves clients through offices in eight geographic regions." (First 2005 inside cover). From this description the reader can see that the First Republic Bank wishes to set itself apart from its competition by offering services that high net worth individuals and entities might find desirable. The bank plans on offering these services with 'extraordinary and personalized service'. Will this sense of caring show through in their reporting process, or will the statement end up being just another bunch of words mouthed by little people in dark suits with hands in their customer's pockets attempting to take every last dime they can find Comparing the description found in First Republic's annual report to the one in Commonwealth Bank's is an interesting comparison, mainly because the comparison cannot be made. Instead of containing basic information about what the company does, who it caters to and what it is doing to capture more business from those customers, it jumps right into a Chairman's message that tells how much money was made by the bank, how well they did in 2005, and how much more money they plan on making in 2006 (and for years to come). There was not one word concerning the customer. The first thing a reader notices in comparing the 2005 Annual Reports from the Commonwealth Bank (Australia) and the First Republic Bank (United States) is that one is a stodgy, black and white, basic, conservative report, while the other is a vibrant, four- color, easily read and understood creation that enhances the reader's enjoyment of what is essentially a financial report concerning a year already in the past. That the four-color report comes from the company in the United States is not necessarily surprising, but what is surprising is that a progressive country such as Australia would not foster a comparable report by one of its similar banking institutions. Of course, it could be the fact espoused by UK firms a few years ago concerning financial reports in general and the reports constraint on their ability to act. "The case financial institutions argued that the limited quality of public information, especially in financial reports, was a major constraint on their ability to act." (Holland 1999 pg. 161).There are a variety of rules that constrain financial reporting in general, and some of those rules are aimed in particular at the financial services industry. Both the First Republic and the Commonwealth annual report adhered to the majority of those general rules. Some of the rules included in both reports as espoused by the Securities Handbook and are as follows: 1). Section 210.2-01 is designed to ensure that auditors are qualified and independent of their audit clients both in fact and in appearance. 2). In determining whether an accountant is independent, the Commission will consider all relevant circumstances, including all relationships between the accountant and the audit client, and not just those relating to reports filed with the Commission. 3). Any partner, principal, shareholder, or professional employee of the accounting firm, any of his or her immediate family members, any close family member of a covered person in the firm, or

Keystone XL Pipeline Analysis Research Paper Example | Topics and Well Written Essays - 3000 words

Keystone XL Pipeline Analysis - Research Paper Example The fourth and final phase of the Keystone Pipeline system is referred to as the Keystone XL Pipeline. This is by far the most ambitious expansion of the existing pipeline system. The Keystone XL Pipeline calls for the installation of over 1000 miles of 36† steel pipe beginning in Hardisty, Canada and ending in Steele City, Nebraska. This additional piping will increase the carrying capacity of the entire Keystone Pipeline system to over one million barrels of crude petroleum products per day. While the first three phases of the Keystone Pipeline have has supporters at all levels of government and in the business sector, the Keystone XL segment has been met with protest and controversy almost from the first moment is was proposed. Many different groups have taken their turn criticizing the pipeline project. The controversy has caused the Obama administration to suspend the permitting process that is necessary for the project to get started. Through regulatory control, the Obama administration has halted planned construction since March of 2013. The depth and breadth of the protests has caused this regulatory action. The first set of protests against the Keystone XL segment centers on environmental concerns. ... The aquifer is massive but relatively shallow. The importance of keeping this aquifer clean and safe from petrochemical pollution cannot be overstated. The primary use for the Ogallala Aquifer is irrigation of crops. The invention of center-pivot irrigation in the 1940’s and broad implementation of the technology in the 1950’s allowed farmers in the Great Plains to dependably raise crops such as corn, soybeans and peanuts that traditionally needed to be grown in more humid climates. This shift in land use forced out less water intensive forms of agriculture such as dry land ranching and created an agricultural economy heavily dependent on irrigation for success. Before the advent of the Keystone pipeline system, the greatest threat to the Ogallala Aquifer was over pumping. Some regions of northern Texas and Oklahoma discontinued or diminished water extraction from the aquifer because the water table was dropping at and increasing rate. Withdraw from the aquifer greatly exceeded the rate of recharge, threatening all agricultural activity in the region. Farmers were forced to adjust their methods of cropping and pasturing. The water table has since bounced back and is at near normal levels because of these changes made in the 1980’s. This example of cooperation between environmentalists and farmers is offered to show that the population of the Great Plains region recognizes that protecting the Ogallala Aquifer is in the best interest of everyone in the entire region. This explains the widespread opposition to the Keystone XL portion of the pipeline. In addition to providing water for irrigation, over 80% of the drinking water for residences is extracted from the aquifer. The Keystone XL phase cuts