Accounting theory in Australia Essay Example | Topics and Well Written Essays - 1750 words

Accounting theory in Australia - Essay Example One such standard that has been much debated is the fair value accounting measure. Fair value accounting has gained popularity in the recent years as the standard for measuring assets and liabilities by firms. Although, fair value accounting has been accepted and adopted by firms across the world, it is still considered to be inefficient in its utility. Perhaps it is because of the discrepancy in the financial systems and conceptual frameworks which have given rise to the chaos that is evident in todays corporate environment. In the following discussion the researcher shall discuss the impact of fair value accounting and disclosures based on current accounting standards, conceptual frameworks and theoretical assumptions with the view to enumerate on its viability, utility and efficiency. International accounting standards are broadly divided into the United States’ independent regulators’ approach and the European public ownership approach. The European approach had been based on the theoretical framework that since corporations are usually serve their own profit interest, it is up to the government to curb private monopolies and monitor their activities. On the other hand the US independent commissions for monitoring and enforcing regulation had been developed with the view to give the market economic independency on the premise of laissez faire. Ironically, as Gaffikin (2005) points out, both the systems fail to achieve its objective of regulation as a result of market inefficiency and economic regulation consideration. This led to the development of a regulation system based on interest theory - that is serving both the private and public interests (Gaffikin 2005). Today, accounting standards across the world is based on the US Financial Accounting Standard Board and the International Accounting Standard Board. Australia follows similar measurement

HRD Essay Example | Topics and Well Written Essays - 2250 words

HRD - Essay Example However, in accomplishing this particular objective of long-run sustainability, employee absenteeism rate is argued as a major challenge for Human Resource Managers (HRM) that is quite likely to result in declining productivity of the organisation, increasing conflicts amid the employees and hindered sustainability of the entire organisation (Cascio & Boudreau, 2010). Emphasising the severity of the effects of absenteeism, the discussion henceforth focuses on examining the issue on the basis of critical theoretical explanation. In this regard, various relevant theories have been considered in order to evaluate the factors that contribute towards the increasing the number of employees’ absenteeism rate in the modern day context. Employees’ Absenteeism Rate Employee absenteeism is often attributed as one of the most serious and challenging issues prevailing in organisations today. It is evident that employees are among the key assets for HRM in context to their operationa l efficiency and sustainability. Efficient and dedicated performances of the employees result in higher productivity, which further tends to have favourable impacts on the operations of the business. Conversely, inefficient performance of employees has often been observed to have led to lower productivity, which further contribute to a continuous decline in the company performance altogether. Absenteeism is viewed as a habitual pattern of absence deciphered by employees obstructing them from executing their responsibilities in the most effective manner. It is worth mentioning in this context that according to the modern managerial notion, high absenteeism rate of employees in workplace is often attributed as a by-product of poor work satisfaction owing to lack of motivation and morale (Cascio & Boudreau, 2010). To gain a comprehensive understanding on the increasing rate of employee absenteeism, certain relevant theories and concepts have been explained in the discussion below. Soci al Learning Theory of Employee Self-management Social Learning theory is a particular concept that has been applied in the workplace with the intention to encourage employees towards obtaining adequate learning experiences in their working process. This theory can be observed to be directly relevant with the behaviour and psychology of the employees. The theory basically states that people in the society learn mostly through their personal experiences that are acquired by their presences among others or through social interactions to be more precise. The theory further depicts that people in the society mainly learn by imitating or by observing the approach or actions of others. It is deemed that this theory have both positive and negative aspects associated with it in context to the workplace attitude of employees (French, 2011). According to Bandura (1971), employees in the workplace learn from others in a particular process, which includes attention, retention, reproduction and m otivation. Employees in the workplace is deemed to pay attention to what others do, often without judging the interpersonal differences or the after-effects of such a behaviour. As per the Social Learning theory, absenteeism habits of other employees might also be considered as a factor that attracts employees in the workplace and causes negative effects on their performances. As per this theory, the