Recognising Limitations And Strengths Of Law Social Work Essay

Recognising Limitations And Strengths Of Law Social Work Essay In order to practice effectively it is necessary to have a critical understanding of the law and to recognise limitations as well as strengths. The law can lack clarity which may be open to interpretation. This essay aims to discuss Social Work roles and responsibilities in Criminal Justice settings. There are many competing pressures to direct the service in ways that may not be consistent with Social Work principles towards greater penal and correctional models. It is therefore essential to have a clear understanding of the policy and legal framework that creates the remit and legitimacy for the operation of Social Work in the Criminal Justice process (Whyte, 2001, p.7). Statute law is created by Acts of the UK and Scottish Parliaments and relies upon rulings made in Court Hearings to set precedents that define and interpret key terms i.e. Case Law. Understanding the law is fundamental to practice in Criminal Justice settings. Criminal Law is a powerful instrument of social control and sanctions and the Criminal Courts have the potential to impose restrictions of liberty of individuals. Social Workers have a responsibility towards the general public and the courts to protect the public and ensure their wellbeing however, there is also obligation towards those who are in the Criminal Justice process who may be vulnerable and in need of services provided by Social Work. It is therefore essential that all workers have an understanding of the legal frameworks that govern Criminal Justice Social Work and are aware of the scope and limitations of their mandate (Whyte, 2001). However, law is subject to change and criminal justice policy is more liable to su dden, politically motivated changes of direction than is social policy in other fields (Smith, 2002, p.309) The law defines what a crime is, rules of evidence and criminal procedure. However, discretion is given to those involved and therefore, the criminal justice process is not systematic. The judiciary, police and social work have differing roles, agendas, values and beliefs which are shaped by training and cultures which can make working within the system difficult due to lack of shared understanding of common aims and individual roles. Social Work involves working with the marginalised and disadvantaged and can be both vulnerable to crime and susceptible to criminalisation and practice involves work with victims or offenders. Local Authorities have statutory responsibility to provide Criminal Justice Social Work Services to support the Criminal Justice Process through assessment of individuals, information to the Courts and supervision of offenders. Scotland differs from the rest of the UK in that there is a unique cultural and political heritage and a separate legal system. Social Work therefore, has a central role within the Criminal Justice process in Scotland which is in contrast to England and Wales where probation work is commissioned by the National Offender Management Service (NOMS) which is separate from Local Authority control and Social Work functions and shows a difference in their approaches in responding to crime. As McAra (2005) suggests a more welfare orientated approach has been adopted due to its legal culture and political history. The legal framework outlining powers and duties of Criminal Justice Social Work is the Social Work Scotland Act 1968 (as amended). Section 27 of this Act outlines the duty by Local Authorities to provide specific Criminal Justice services (e.g. social background reports, supervision of offenders on an Order or Licence) in respect of central government funding however, it does not explain the objectives of these services or provide guidance on their exercise. Section 12 gives Local Authorities (LAs) discretion to provide additional services (e.g. victims) as part of the general responsibility to promote social welfare. Probation or offender services became the responsibility of the Local Authority Social Work Departments in 1968 and had a general duty to promote social welfare in their locality (S12, Social Work (Scotland) Act 1968). This was due to the Kilbrandon Committee (Kilbrandon, 1964) being appointed to investigate increasing juvenile crime. The Kilbrandon Report recommended a new approach to childrens services based on the needs of children and families and those who offend should be treated the same as those children requiring care and protection. Kilbrandon also suggested diversion and early voluntary intervention as crime prevention and one department for children and adults. This merge of work with adult offenders was pivotal in recognising work with offenders as having a welfare component admittedly with a level of control. Although the Kilbrandon philosophy followed trends of the time which advocated rehabilitation and treatment of offenders and an awareness of the social causes of c rime, this is still highly relevant to todays practice. From the 1980s onwards Criminal Justice in Scotland has undergone major legislative and policy change due to successive governments. As there was concern for public protection and community disposal effectiveness in 1991, 100 per cent central government funding was introduced and the National Objectives and Standards were published which set out core objectives, service provision and guidance on their delivery (Social Work Group, 1991). This resulted in the government committing to Social Work delivering this role. This policy arrangement outlined by Rifkind in 1989 has survived changes in political administration although, it has been suggested that devolution has caused a sudden and dramatic politicisation of Criminal Justice issues and could undermine the welfare tradition (McNeill and Batchelor, 2004: Croal, 2005). Social Work with offenders should aim to address and reduce offending behaviour. Whilst the law provides a framework for practice, effective work with offenders requires Social Work skills such as communication, therapeutic relationships in supervision, assessment and risk management. The task is therefore, varied and complex as Social Workers have the power to control the individuals who are referred via the Courts and enforce any Court Orders but must also work with an offender in a holistic, inclusive way to have a positive impact on their offending behaviour and this can be through support and assistance in relation to personal and social problems but also the individual taking responsibility for their actions. Effective and ethical practice is therefore, about considering and managing the needs and rights of the Courts, the general public, victims and offenders. Although Social Workers have statutory duties and powers to interfere in peoples lives this is not always welcome but is necessary in promoting public safety. Under the Scottish Social Work Services Council (SSSC) Code of Practice Social Workers have an obligation to uphold public trust and confidence and the Criminal Justice Authorities (CJAs) are required by Scottish Executive guidance to develop a strategy to address this (Scottish Executive, 2006b). This strategy includes both offenders and their families and Social Workers should engage these individuals and recognise their views in the development of services. Both Criminal Law and Social Work recognise the autonomy of individuals choices on how they lead their lives and with this capacity is criminal responsibility. Those of which who lack capacity (e.g. children and the mentally disordered) are not culpable in the eyes of the law and may be treated differently. It is therefore recognised that criminal behaviour is not just a choice but may be about social circumstances to which they have minimal control. Social Workers should assist in allowing individuals to improve their capacity for making choices together with consequences to their actions (ADSW, 1996a). Although Social Workers are obliged to protect the rights and interests of service users there is a belief amongst the general public that they have forfeited these rights when they have offended. All Criminal Justice agencies must comply with the Human Rights Act 1988 which incorporates into domestic law the fundamental rights set out in the European Convention of Human Rights (ECHR). Public Authorities are required to respect all of the provisions however, the two articles with particular relevance to Criminal Law and Social Work are the right to liberty and security (Article 5. ECHR) and the right to a fair trial (Article 6, ECHR). However, the state can impose restrictions on those who breach criminal law or are a threat to public safety as long as the detention is authorised by law and there is a balance between the individual, their victims and the general public. The Social Worker must assess this balance through rigorous assessment and analysis of risk. The Social Work role r equires respect to offenders as individuals and ensure that the offenders ability and right to function as a member of society is not impaired to a greater extent than is necessary in the interests of justice (ADSW, 1996a). Criminal Justice Social Work services are delivered in partnership with various statutory and non-statutory agencies and this can present challenges due to conflicting professional values and aims. The Management of Offenders etc. (Scotland) Act 2005 was introduced to improve joint working and co-ordinate the management of offenders especially in the transition from custody to community supervision and places a duty on Criminal Justice Authorities (CJAs) to have an information sharing process in order that relevant information is shared between agencies (s.3 (5)(g)) for improving offender and risk management. However, sensitive personal information must be handled carefully and be under the principles of the Data Protection Act 1988 and local agency protocols. Practitioners within Social Work must ensure that any information sharing decisions are fully explained and understood by the offender even when their consent to disclosure is not required. Organisations who deliver public services have general duties to eliminate unlawful discrimination and promote equality of opportunity on the grounds of race (Race Relations (Amendment) Act 2000), sex (Equality Act 2006), and disability (Disability Discrimination Act 2005). Individuals who are involved with Criminal Justice organisations are entitled to the protection of discrimination laws which relate to sex, race, disability, religious beliefs and sexual orientation, with exception to exercising judicial functions or carrying out Court orders. In these circumstances it may be within Article 14 of the ECHR which prevents to the right to liberty and security of the individual or the right to a fair trial being interfered with on a wide range of discriminatory grounds. Criminal Justice is still influenced by prejudicial and discriminatory views. Research has been carried out by both the Social Work and Prisons Inspectorate for Scotland (1998) which highlighted concerns about the treatment of female offenders in the Criminal Justice process. In addition to this, several inquiries in England and Wales in relation to racial discrimination by the police and prison services has subsequently raised public awareness (Macpherson, 1999; Keith, 2006). The Scottish Government has a duty to publish information of discrimination of any unlawful grounds (s.306 (1)(b) Criminal Procedure (Scotland) Act 1995) and therefore, all workers need to practice in an anti-discriminatory way. The law outlines the limits of Social Work intervention and knowledge of the law is essential to anti-oppressive practice. The only legitimacy for intervening in the life of the individual within the criminal justice process is the individuals offending behaviour†¦if individuals have social needs which require to be met but are not crime related or crime producing, or if the offence is not sufficiently serious to fall within the criteria of the twin-track approach, services should be offered, as far as possible, through voluntary provision†¦No-one should be drawn into the criminal justice processes in order to receive social work help (Moore and Whyte, 1998, p.24). Rehabilitative intervention is not just about helping; it imposes limitations on the rights of the individual who is subject to the intervention. Risk assessment and offence based practice is an ethical approach. It aims to ensure that the most intensive and potentially most intrusive services are focused on those service users who pose the greatest risk of causing harm to others (ADSW, 2003) and to prevent socially disadvantaged individuals being taken further into criminal justice control which can result in further social exclusion. Criminal Justice Social Workers must take note that the role involves work with disadvantaged social groups. Certain types of crimes and offenders often criminalise the young, deprived, unemployed and undereducated male with an experience of the care system and this is clear from Social Work and prison statistics (Croall, 2005; McAra and McVie, 2005). There is often a complex relationship between social exclusion and offending behaviour and often the Criminal Justice process displays existing injustices within society. It is important that issues in relation to class, age and social context should be recognised together with vulnerability to discrimination. The Social Workers role should be to address issues of social exclusion and empower individuals to lead law abiding lives by addressing their offending behaviour. Social Work can help offenders develop capacity to make informed choices by actively encouraging their participation in the supervision/change process and their engagement with improving their current social situation (McCulloch, 2005; McNeill, 2004). Assisting offenders to focus on their strengths as opposed to their risk and needs can have a positive impact as they learn to recognise the value in their own lives and respecting the value of others. The sentencing stage in the criminal justice process generates the majority of Criminal Justice Social Work through provision of information to the Court in the form of Social Enquiry Reports (SERs) and the administration of community disposals, with the exception of liberty orders (tagging). SERs have no legal basis but there is a statutory duty on criminal justice social work to provide reports to the Court for disposal of a case (s.27(1)(a) SWSA 1968. Reports provide the court with the information and advice they need in deciding on the most appropriate way to deal with offenders. They include information and advice about the feasibility of community based disposals, particularly those involving local authority supervision. In the case of every offender under 21 and any offender facing custody for the first time, the court must obtain information and advice about whether a community based disposal is available and appropriate. In the event of custody, the court requires advice abo ut the possible need for a Supervised Release order or Extended Sentence Supervision on release. (Scottish Executive, 2004d, para. 1.5) The Criminal Procedure (Scotland) Act 1995 sets out when the court can or must obtain an SER. Failure to request a report, where required by law, can result in a sentence being quashed on appeal. The Court is not obliged to follow recommendations or opinions in the SER however, Social workers can have a direct influence on the sentence passed. Preparing SERs demands a high standard of professional practice. It requires skilled interviewing, the ability to collect and assess information from different sources, and the art of writing a report which is dependable, constructive, impartial and brief (Social Work Services Inspectorate (SWSI), 1996, Foreword). The law imposes time limits in compiling reports. The Courts require a report within three weeks (s.201(3) (a) if an offender is remanded in custody and within four weeks if the offender is on bail (s.21(3)(b) of the 1995 Act). This means in practice that there are increased demands on a workers time that places increased pressure in the preparation of SERs especially if there are high numbers of worker absence due to leave or whether the worker knows the offender and their individual circumstances. Whilst conducting interviews the worker must ensure that the offender understands the purpose of the report, the relevance of questions (health, addiction issues, and personal relationships) and the limits to confidentiality of this information. Social workers must balance between an informed recommendation and an awareness of the severity of the offence. The report author should be impartial and not minimise the seriousness of the offence and its impact (NOS, Scottish Executive, 2004d, p ara 5.5) and phrases that imply moral judgements, label or stereotype offenders should not be used (para. 5.1). When compiling an SER workers are required to consider the suitability of disposals in relation to the risk posed by an offender and to target appropriate resources which are most appropriate and successful in addressing offending behaviour. Guidelines for the assessment and management of risk are outlined in the Management and Assessment of Risk in Social Work Services (SWSI, 2000) and there are also additional risk assessment frameworks which specifically relate to serious violent and sex offenders. In Criminal Justice the focus has moved from risk of custody to risk of reoffending and risk of harm. Risk assessment is complex and there has been a shift from concern for the offender and their needs to concern about public safety and the offender being a potential source of risk to others. Although the legislation is not explicit about offending behaviour, National Standards state that SERs should provide information and advice which will help the Court decide the available sentencin g options†¦by assessing the risk of reoffending, and†¦the possible harm to others. This requires an investigation of offending behaviour and of the offenders circumstances, attitudes and motivation to change (Scottish Executive, 2004d, 1.6). Risk is defined by Kemshall (1996) as the probability of a future negative or harmful event and assessment of risk includes: the likliehood of an event occurring, who is likely to be at risk, the nature of the harm which they might be exposed and the impact and consequences of the harmful event. Risk assessment has changed over the years and prior to the introduction of risk assessment tools workers relied on clinical methods or professional judgement which was based on an offenders history. These methods were criticised for being too subjective, inaccurate, open to worker bias and dependent on information given by the offender. In the 1990s workers moved towards objective and empirically based risk assessment tools (actuarial) to support their assessment. Actuarial risk assessment tools rely on static (historical) risk factors together with dynamic (criminogenic) risk factors and to assess the risk of reoffending. The static factors (which cannot change) take into account gender, age at first conviction, number of previous offences and custodial experiences, school progress, previous employment and personal history. The criminogenic factors (focus on current areas) include current employment, personal relationships, peer associates, use of time, substance use, mental health and attitudes and behaviour. All of these factors impact on the risk of reoffending (Bonta, 1996). The most widely used assessment tool, The Level of Service Inventory Revised (LSI-R) devised by Andrews and Bonta (1995) incorporates both static and dynamic factors. However, it does not assess risk of harm and this shows that both actuarial and clinical risk assessments are crucial for an effective and comprehensive risk assessment. Clinical methods combine knowledge of the offenders personality, habits lifestyle and an analysis of the circumstances of the offending behaviour and are therefore, the most appropriate assessme nt tool at identifying those who are likely to cause serious harm. Although more time consuming and require more in-depth analysis of both the offender and the offence risk is assessed on predispositions, motivation towards certain behaviours and triggers that may contribute to harmful behaviour. Actuarial tools are not totally accurate (Kemshall, 1996) and although this is improved upon through use of clinical methods in decision making, professional judgement is also crucial. Social workers must be aware that social disadvantage plays a part and this can contribute to a higher assessment of risk and need and to be cautious about the total reliability of these factors when making recommendations that may affect an offenders liberty. Risk assessment and intervention or supervision should be informed by valid, reliable and ongoing assessment and Social Workers should familiarise themselves with research emerging in this area and the many assessment tools and change programmes available (Levy et.al., 2002). To support change Social Workers have to not just think about what work is done with the offender but how that work is done. Offenders under supervision have very high levels of need. Moreover, although most offenders have many needs in common, there are also significant variations that necessitate the thoughtful tailoring of individual interventions if the effectiveness of practice is to be maximised. In delivering effective practice, the accumulated weight of evidence†¦drives us towards recognition that practice skills in general and relationship skills in particular are at least as critical in reducing re-offending as programme content (McNeill et al., 2005, p.5). This recent review of core skills required for effective Criminal Justice Social Work practice raises challenges in practising ethically and effectively but when applied critically and reflectively this could achieve positive outcomes that are in the interest of the public, victims and offenders. Although the law is crucial in framing Social Work practice in the Criminal Justice process it is equally important that Social Work skills and values are central to effective interventions as the role is both demanding and rewarding. Crime has become increasingly prominent both in the public and political agenda and therefore, Social Work has become more prominent and complex. Social Workers have a professional responsibility towards victims, the Court, community and offenders. To fulfil this role effectively, Social Workers must have a clear, confident understanding of their role, the legislative and policy context and a commitment to increasing and developing knowledge, skills and values required for effective and ethical practice.

Issues with Revenue Recognition Within the Software Industry

Issues With Revenue Recognition within the Software Industry The Isoft Example Financial Controller-SoftWarehouse Ltd This report has been prepared for the Board of Directors of SoftWarehouse Ltd for elucidation about the contentious issues that have given rise to the publication of the article concerning Isoft’s issues with revenue recognition. Finally, it will also assess whether or not these issues are likely to affect SoftWarehouse Ltd. TABLE OF CONTENTS Executive Summary:3 Introduction:5Part 1- Examining the Isoft Ltd example:5 PART 2 – The issues faced by software companies in relation to revenue recognition:6 Part 3- Issues raised that may impact SoftWarehouse Ltd:7 Part 4 – Future changes in revenue recognition standard:8 Conclusion:9 Reference List:10 Executive Summary: This report has been prepared for the Board of Directors of SoftWarehouse Ltd for elucidation about the contentious issues that have given rise to the publication of the article concernin g Isoft’s issues with revenue recognition.Finally, it will also assess whether or not these issues are likely to affect SoftWarehouse Ltd. In January 2006, Isoft, a Manchester based supplier of software applications for the healthcare sector, announced that its profit would be below market expectations due to a required change in its accounting policy for revenue recognition. Isoft was forced to reverse revenue of approximately ? 70m in 2005 and ? 55m in 2004 – when Deloitte found that Isoft was recognizing revenue sooner than it should have been.The underlying principle of Isoft’s historic revenue recognition policy had been that the value of the product licenses was recognised at the time of delivery, while the value of support and servicers was recognised as they were performed. Moreover, the value of licences was identifiable and separable form the implementation and support services provided. This is not aligned with what the AASB Revenue states. Consequent ly, Isoft engaged in controversial accounting practices. The company recognised revenue at the start of long-term contracts instead of recognising revenue over the life of the contract.Isoft was recognising revenues from contracts even though actual payments for some projects were due over an extended period (for example: one project it recognized revenue even though actual payments were to be paid over a two-year period). The accounting practice of recognising revenue in this method lead to an overstatement of its income, and therefore had the effect of misleading the stock market and Isoft’s overall credibility. After realigning its revenues to the current period (in 2006) to reflect a fair value of its performance, 40% was taken off its share values and the company was forced to lay off 10% of its staff.Isoft adopted a new revenue recognition policy, which more appropriately reflects the changing nature of the business as the group is involved with more complex and long-te rm product supply projects. In the new policy, licence revenues will be recognised over the same period as the implementation of revenues, which may range from a few months to a number of years from contract signature. This will increase visibility and predictability of earnings. At SoftWarehouse Ltd, our contracts with our customers involve the sale of customised software as well as its implementation and maintenance services.We recognise revenue in accordance to AASB 118. The revenue therefore, is recognised over the length of the contract. Due to the fact that our selling prices include an identifiable amount for the subsequent services, that amount is deferred and recognised as revenue over the period during which the service is performed. We recognise revenue by reference to the stage of completion of the transaction at the end of the reporting period. Therefore, I am confident that we will not encounter similar issues, which were faced by Isoft.However, due to the lack of guid ance from the IFRS and GAAP standards on revenue recognition, it is foreseeable that interpretations could become misguided or unaligned with these standards in the future. The issues raised by Isoft elucidate the importance of recording an accurate picture of its earnings. The joint project of the FASB and the IASB is trying to converge the two sets of standards and offer a single revenue recognition model that can be applied consistently to various transactions – which would address these issues of lack of guidance.Introduction: In January 2006, Isoft Ltd, a Manchester based supplier of software applications for the healthcare sector, announced that its profit would be below market expectations due to a change in its accounting policy for revenue recognition, when it announced its results for the year ended April 2006. This situation is not unusual within the software industry and reflects the issues that software companies face when it comes to accounting for revenues.As t he financial controller of SoftWarehouse Ltd, my goal is to clarify and explain the main issues faced by Isoft Ltd; the consequences of those issues on the business and finally; to determine if those practices could also impact the financial reporting within SoftWarehouse Ltd. Part 1- Examining the Isoft Ltd example: The underlying principle of Isoft Ltd’s historic revenue recognition policy had been that the value of product licences was recognised at the time of delivery, while the value of support and services was recognised as they were performed (Isoft 2006).Moreover, under this policy, the value of licences was identifiable and separable from the implementation and support services provided (Isoft 2006). AASB 118- Revenue (AASB 2010), gives some guidance on how to recognise revenue: â€Å"When the selling price of a product includes an identifiable amount for subsequent servicing, that amount is deferred and recognised as revenue over the period, which the service is p erformed. AASB (2010) illustrates that statement by giving an example which can be applied to Isoft Ltd’s situation: â€Å"When the selling price of a product includes an identifiable amount for subsequent services (for example, after sales support and product enhancement on the sale of software), that amount is deferred and recognised as revenue over the period during which the service is performed. The amount deferred is that which will cover the expected costs of the services under the agreement, together with a reasonable profit on those services. † Therefore, it seems that Isoft Ltd’s traditional policy is acceptable under AASB 118- Revenue.Isoft Ltd had to change its revenue recognition after Deloitte had found that some revenues had been recognised earlier than they should have been (Stafford 2006), which lead to an overstatement of its income and therefore had the effect of misleading the stock market (Griffiths and Bowers 2006), and thus affect Isoftâ⠂¬â„¢s credibility. When the company was obliged to realign its revenues to the current period in 2006 to reflect a fair value of its performance, its revenues got wiped out and it knocked 40% off its share values. The company also announced that at 10% of its staff would be laid off (Meyer 2006).Under Isoft Ltd’s new revenue recognition policy, licence revenues will be recognised over the same period as implementation revenues, which may range from a few months to a number of years from contract signature, and over the full duration of the contract in the case of managed services (Isoft Ltd 2006). The group stated that a change of accounting policy for revenue recognition is needed to more appropriately reflect the changing nature of the business as the group is involved with more complex and long-term product supply projects (Isoft Ltd 2006).Isoft Ltd also mentioned that its new revenue recognition policy would increase visibility and predictability of earnings (RNS 2006). PART 2 – The issues faced by software companies in relation to revenue recognition: Isoft Ltd was accused of being engaged in controversial accounting practices. The main issue with Isoft Ltd’s accounting practices is that it was recognising revenue sooner than it should have been. The company recognised revenue at the start of long-term contracts instead of recognising revenue over the life of the contract (Moulds 2006).Indeed, during the year 2004-2005, Isoft Ltd accounted in full for the revenue raised as part of long-term contracts at the time of receiving part prepayments. Analysts had found that Isoft Ltd, the main software supplier for the NHS’s ? 6. 2bn IT project, was recognising revenues from contracts even though actual payments for projects were only due over two years time (Neveling 2006). For the year ending April 2004, Isoft Ltd recognised ? 30m of payments from Accenture and CSC who were implementing the NHS’s technology overhaul (UK Parli ament 2007).One of the main issues in accounting is about revenue recognition, especially in our IT industry. As KPMG (2009) stated, IFRS does not provide any specific guidance on revenue recognition for software related transactions. The IFRS standard and the Australian GAAP standard on revenue recognition lack guidance when a transaction involves both a good and services related to that good (IASB 2008) – which is often the case for software companies. The difficulty for software companies resides in the fact that due to this vagueness, it is hard to distinguish the revenue from the software and the revenue from the services offered.As Stafford (2006) mentioned, Isoft Ltd is not the first software company to have had issues with revenue recognition. Part 3- Issues raised that may impact SoftWarehouse Ltd: At Softwarehouse Ltd, we are providing customised software to our customers in the mining industry. Our contracts with our customers involve the sale of customised softwar e as well as its implementation and maintenance services. We recognise revenue according to AASB 118, which we previously mentioned in detail in part 1.AASB (2010) adds an interesting point for guidance: â€Å"fees from the development of customised software are recognised as revenue by reference to the stage of completion of the development, including completion of services provided for post delivery service support. † The revenue is therefore, recognised over the length of the contract. Due to the fact that our selling prices include an identifiable amount for the subsequent services we deliver, that amount is deferred and recognised as revenue over the period during which the service is performed.We recognise revenue by reference to the stage of completion of the transaction at the end of the reporting period. We are confident that we will not encounter a similar situation than the one Isoft Ltd went through. However, I have to admit that the AASB is not giving clear guida nce regarding revenue recognition, which leaves us with our own interpretation. Due to this lack of guidance, it could be foreseeable that our interpretation could become misguided or unaligned with the AASB. We should always be aware that even though our policy is acceptable under the Australian GAAP, it doesn’t mean that we are protected from making mistakes.Indeed, Isoft Ltd’s traditional policy was acceptable under the Australian GAAP. However, as their contracts changed, Isoft Ltd did not update its policy, which led to misalignment. At Softwarehouse Ltd, we have to bear in mind that if the type of contracts or transactions that we offer change, then we will have to update our policy to accurately reflect our financial position. Ultimately, we must ensure that we do not recognise revenue too early and overstate our income. Part 4 – Future changes in revenue recognition standard:We are still keeping a close eye on the project regarding the new revenue recogn ition model: the Contract- based revenue recognition model. This is a joint project of the FASB and the IASB whose goal is to converge the two sets of standards (Henry & Holzmann 2009) and to offer single revenue recognition model that can be applied consistently to various transactions (IASB 2008). If adopted the proposed standard will replace existing standards AASB 118- Revenue. The core principle of this model is that an entity would recognise revenue from contracts with customers when it transfers promised goods or services to the customer.The amount of revenue recognised would be the amount of consideration promised by the customer in exchange for the transferred goods or services (RSM Bird Cameron 2011). Under this new revenue recognition model, it is stated that the â€Å"entity should recognise revenue when its net position in a contract with a customer increases as a result of satisfying a performance obligation. An entity satisfies a performance obligation when it transf ers goods and services to a customer. † (IFRS 2008). The last exposure draft (IFRS 2011) indicates â€Å"if a romised good or service is not distinct, an entity would combine that good or service with other promised goods or services until the entity identifies a bundle of goods or services that is distinct. Therefore, the entity would account for the bundle as a single performance obligation†. The revenue for that performance obligation would then be recognised over time by selecting an appropriate measure of progress towards complete satisfaction of the performance obligation (IFRS 2011). Conclusion: One of the main issues in accounting concerns revenue recognition, especially within the software/IT industry.The IFRS and the Australian GAAP standards on revenue recognition lack guidance when it comes to multiple element transactions. Due to this lack of guidance, it is foreseeable that interpretations could become misguided or unaligned with the IFRS or Australian GAA P standards. The issues raised by Isoft Ltd, elucidate the importance of recording an accurate picture of its earnings. Indeed, Isoft had to change its revenue recognition after it was exposed that some revenues had been recognised earlier than they should have been, which lead to an overstatement of its income and therefore had the effect of misleading the stock market.The joint project of the FASB and the IASB is trying to address these issues of lack of guidance. Reference List: Australian Accounting Standards Board 2010, AASB 118 Revenue. Available from: www. aasb. gov. au. [20 March 2012]. Griffiths, I & Bowers, S 2006, ‘Revealed: Isoft’s U-turn on accounts problems’, The Guardian 2 November. Available from: . [8 April 2012]. Henry, E & Holzmann, OJ 2009, ‘Contract-Based Revenue Recognition’, The Journal of Corporate Accounting & Finance, pp. 77-81. Available from: Proquest [28 March 2011].House of Commons, Committee of Public Accounts 2007, Dep artment of Health: the national programme for IT in the NHS, The Stationary Office, London. International Accounting Standards Board 2008, Discussion Paper Preliminary views on revenue recognition in contracts with customers. Available from: . [20 March 2012]. IFRS 2011, Exposure draft revenue from contracts with customers. Available from: . [5 April 2012]. KPMG 2009, Impact of IFRS on the Information Technology and Business Process Outsourcing Industries. Available from: < https://www. in. kpmg. com/securedata/ifrs_Institute/Files/IFRS_IT. df>. [ 10 April 2012]. Meyer, D 2006, ‘NHS IT timescale questioned as Isoft CEO resigns’, Zdnet 15 June. Available from: . [7 April 2012]. Moulds, J 2006, ‘Isoft directors and ex- auditors face questioning in new inquiry’, The Telegraph 26 October 2006. Available from: . [5 April 2012]. Neveling, N 2006, ‘What’s going on at Isoft’, Financial Director 31 August 2006. Available from: . [7 April 2012]. R NS 2006, Isoft Change in Accounting Policy. Available from: . [5 April 2012]. RSM Bird Cameron Chartered Accountants, 2011, Revenue Recognition- New and Revised Proposal, Available from: http://www. rsmi. com. au/rsbcwr/_assets/main/lib90034/111220_financial%20insight_revenue%20recognition%20web. pdf>. [28 March 2012]. Stafford, P 2006, ‘Revenue Recognition is Isoft’s Curse’, Financial Times 9 August. Available from: http://www. ft. com. [5 April 2012]. Uk Parliament 2007, Memorandum submitted by Ian Griffiths and Simon Bowers. Available from: . [8 April 2012].

A Litte Kindness Goes a Long Way Illustration Essay

A Little Kindness Goes A Long Way Have you ever thought about what happens when people are kind, or how it feels to be filled with benevolence to other human beings? Recently I have found myself being very kind to other people and having concern for their feelings. Time flies by too fast to be hateful or rude to other people. We as humans often underestimate the power of kindness and caring, and don’t take into consideration of other peoples feelings. A simple smile or an honest compliment can change somebody's life.One example of showing kindness or curiosity for somebody elses feelings happened to me at the Country Market, the store i work at. It was about 8:00 p. m. on a tuesday night when I had just finished for the day and was coming home from school and the gym. I stopped at Country Market, and I went inside to get a drink and pay for my gas. The lines for the cash registers were filled on both sides with about 10 customers waiting at each. I was third in line, behind a middle aged man in his 40’s, and finally an elderly man in front of the line was checking out.The elderly man was in his upper 70’s, and he had a handful of groceries. The cashier asked the man if he needed help out, he replied â€Å"No thank you I can take this out myself†. The old man was struggling to get his groceries, and I noticed the middle aged man was hesitating to help him, so I set my drinks down and went up to the counter and grabbed his groceries and took them out. Little did I know when I was carrying out the mans groceries the middle aged man saw my act of kindness, and he paid for my drinks and my forty six dollars in gas.Another example of ways to show kindness and how it can impact other people's lives is just by smiling. The power of smiling is amazing, and it takes little or no effort and does not cost you anything. There is a website called To Write Love On Her Arms. TWLOHA is an anti-suicide non profit organization that aims at random acts of kindness or speaking out to those in need. They have a forum on their website about smiling and there has been a handful of cases where teenagers were thinking about committing suicide or feeling so down that they did not wanna live.These teenagers told their stories on this website and there were two that I read that was very sad. This girl said that she was going to kill herself, and the only reason that she did not is because a random old man opened a door for her at school and said â€Å"Smile it looks beautiful on you†. Now this young woman works for TWLOHA and is helping other people with their problems. Other examples of kind acts giving good karma is a story of an old man that works out at my gym with me by the name Jason Overstreet.Jason told me that he was in the drive through for Taco Bell when he decided to pay for the vehicle behind him. He said â€Å"he felt like a million bucks the rest of the day†. A week or so went on when Jason decided to go back t hrough Taco Bell again when he went to get his food from the drive through window. The girl that was working the window recognized him, and told him â€Å"It was really an amazing thing you started the other day. While you bought that lady’s lunch then she bought the car behind hers.It was like a chain reaction that lasted about 7 cars†. Jason was astonished at what he had started just by one simple act of kindness. Anyone can give random kindness anytime of the day. All they have to do is share a bit of their lives with others, or make a simple smile. When you are kind, you bring joy and happiness into the lives of others, and you will also be happier, too. Share your happiness with others, because happiness and kindness make the world go around. You never know when you can change someone's life with a simple smile.

Essay about Psalm 42 - 4546 Words

If the book of Psalms be, as some have styled it, a mirror or looking-glass of pious and devout affections, this psalm in particular deserves, as much as any one psalm, to be so entitled, and is as proper as any to kindle and excite such in us: gracious desires are here strong and fervent; gracious hopes and fears, joys and sorrows, are here struggling, but the pleasing passion comes off a conqueror. Or we may take it for a conflict between sense and faith, sense objecting and faith answering. I. Faith begins with holy desires towards God and communion with him (v. 1, 2). II. Sense complains of the darkness and cloudiness of the present condition, aggravated by the remembrance of the former enjoyments (v. 3, 4). III. Faith silences the†¦show more content†¦1, 2): quot;My soul panteth, thirsteth, for God, for nothing more than God, but still for more and more of him.’’ Now observe, 1. When it was that David thus expressed his vehement desire towards God. It was, (1.) When he was debarred from his outward opportunities of waiting on God, when he was banished to the land of Jordan, a great way off from the courts of God’s house. Note, Sometimes God teaches us effectually to know the worth of mercies by the want of them, and whets our appetite for the means of grace by cutting us short in those means. We are apt to loathe that manna, when we have plenty of it, which will be very precious to us if ever we come to know the scarcity of it. (2.) When he was deprived, in a great measure, of the inward comfort he used to have in God. He now went mourning, but he went on panting. Note, If God, by his grace, has wrought in us sincere and earnest desires towards him, we may take comfort from these when we want those ravishing delights we have sometimes had in God, because lamenting after God is as sure an evidence that we love him as rejoicing in God. Before the psalmist records his doubts, and fears, and griefs, which had sorely shaken him, he premises this, That he looked upon the living God as his chief good, and had set his heart upon him accordingly, and was resolved to live and die by him; and,Show MoreRelatedMy Spiritual Life Essay1145 Words   |  5 Pagesin. I’ve been blessed to find the Psalms speaking to me a lot more – Psalm 42, â€Å"my soul thirsts for God, for the living God, when can I go and meet with God?† (I also recently realized how pretty much all Christian song lyrics are taken directly out of Psalms, just this chapter alone contains â€Å"as the deer pants for streams of water; why are you so downcast O my soul; deep calls to deep†). I’m encouraged because the fact that I can personally relate with the Psalms seems to be a sign that my relationshipRead MoreBooks of Wisdom Literature2161 Words   |  9 Pagesfocus on theology; 3. 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In this effort he turns to Psalms and examines three texts: Psalm 2:7 (â€Å"The Lord said to me, My son you are; today I have begotten you†), Psalm 44:2 (â€Å"My heart spoke a good word†), and Psalm 109:3 (â€Å"From the womb, before Morning star, I brought you forth†) and synthesizes them with verses speaking of the Father’s direct relation to the Son (Matt. 3:17; John 8:42; 6:46). Matt. 3:17, 17:5 The Father’s personal relationship with the Son is perhapsRead MoreMeaning Of Psalm 119934 Words   |  4 PagesPsalm 119 is by far the longest poem in the Psalter and the longest chapter in Scripture. It is also the most intricate with regard to structure. The format of Psalm 119 is an alphabetic acrostic, meaning that the first letters of each line in Hebrew follow through the alphabet, 8 lines per letter, thus 8 lines x 22 letters in Hebrew = 176 lines. One message of this psalm is that we are to live a lifestyle that demonstrates obedience to the Lord, who is a God of order that is the acrostic structureRead MoreGods Personal Intervention in the Lives of His People Essay997 Words   |  4 Pagesbut always rescued by God from certain death. In Psalm 18, David praises the Lord in what has now become canonized in the Bible and is known as a Psalm of Praise. The psalm opens with the powerful sentence: â€Å"I love you, O Lord, my strength,† which immediately demonstra tes David‘s devotion to the Lord along with the recognition that he provides something that David does not have: strength (New International Version, Ps. 18.1). Throughout the psalm, a personal relationship between God and David isRead MoreRoyal Ideology in Ancient Israel Essay1054 Words   |  5 Pagesassociated with kingship was carried out by a centralised bureaucracy and specialists. 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