Choose for me Essay Example | Topics and Well Written Essays - 1250 words

Decide for me - Essay Example As indicated by the yearly report 1997-98 introduced by the U.S. Branch of Health and Human Services, there was a decrease in the birth rate for youngsters between the age of 15-19 somewhere in the range of 1991 and 1996 in all states. During this period, the general U.S. high schooler birth rate fell by 12 percent, by 12 percent or more in 28 states, by 16 percent or more in 13 states, while, decrease in 4 states surpassed 20 percent. Despite the fact that the figures show that there has been an improvement in youngster birth rate however it’s still an issue which is making a ton of issues for the youthful moms, the administration just as the general public. Adolescent childbearing is related with genuine wellbeing dangers. Juvenile moms, particularly who are under 15 years old have a higher pace of birth complexities including iron deficiency, hypertension, drawn out or untimely work, pregnancy related diseases and irregular draining and so forth. There are more prominent odds of having a low birth weight and neonatal passing rate, which implies that the newborn child bites the dust inside 28 days of the birth, when contrasted with grown-up pregnant ladies. Other clinical issues related with high school moms are poor maternal weight increase, untimely birth and they are likewise increasingly inclined to contracting Sexually Transmitted Diseases. Horrible eating routine is another factor related with negative pregnancy as is the utilization of medications, liquor and smoking. The high school moms not just experience the ill effects of sick wellbeing and clinical dangers, yet in addition face mental issues which incorporate school interference, restricted professional chances, tenacious neediness, partition from the child’s father and now and again rehashed pregnancies. Now and again if the school isn't intruded on, it brings about poor scholarly execution. â€Å"Teen moms are in mental danger since they experience more elevated levels of pressure, despair, sentiment of weakness, low confidence, a feeling of individual

An Overview of General Strain Theory Essay

In current criminological research and discussion, general strain hypothesis (GST) stays at the cutting edge. The point of this paper is to examine general strain hypothesis (GST), what it is, and how it became. Subtleties on explicit research in regards to general strain hypothesis, be that as it may, lie past the extent of this composition. This paper will rather concentrate on GST’s place among other criminological speculations, and why it stands where it is today. In this manner, to get an appropriate viewpoint on this hypothesis, it is reasonable in any case a diagram on its beginnings. General strain hypothesis sprang from the standard strain hypothesis created in the late nineteenth and mid twentieth hundreds of years (Agnew, 1992). Up until the fade of the 1960’s, strain hypothesis had become the superior hypothesis on aberrance. As the 70’s moved through, be that as it may, different differential-affiliation speculations, just as social learning and soci al control hypotheses, supplanted strain hypothesis and left it in close to lowness. There it stayed, generally, until the ascent of GST (Cole, 1975). Be that as it may, what, at that point, is strain hypothesis? Originating from crafted by Émile Durkheim and Robert Merton, strain hypothesis spins around the ideas of anomie and, obviously, strain. The focal thought is that, while society as a rule may share shared objectives of independence and riches, the way to accomplish those objectives is constrained by financial class. The divergence between what is normal and what is conceivable, and the subsequent strain, prompts anomie, a condition of normlessness, where the standard of direct becomes slanted and self-administrative qualities are dismissed (Featherstone and Deflem, 2003). Strain is said to drive the denied into following an existence of abnormality as a way to accomplish in any case incomprehensible objectives. A person under strain may likewise supplant those objectives with something all the more promptly attainable, for example, â€Å"toughness† or â€Å"respect†. While there are minor departure from standard strain hypothesis, they for the most part incline toward this focal idea. As increasingly more research was directed all through the late twentieth century, it turned out to be certain that, while strain hypothesis could clarify numerous sorts of wrongdoing, it couldn’t clarify everything, for example, why wrongdoing happens inside well-to-do hovers where there is little strain of this sort. Observational help for customary strain hypothesis got more vulnerable and more vulnerable, and, as expressed, it dropped out of favorâ by the 1970’s, supplanted by speculations that focused more on wrongdoing being a socially learned conduct. Yet, not every person dismissed the old hypothesis. All through the 1980’s, youthful humanist Robert Agnew composed a few papers examining and investigating conventional strain hypothesis. One of his papers written in 1985 proposed another interpretation of strain hypothesis, in which Agnew presented blockage of torment shirking as an extra reason for strains prompting degenerate conduct. These works indicated that there could be different ways that strain can cause aberrance, shedding trust in a more current, all the more enveloping brand of strain hypothesis. Toward the beginning of the next decade, Robert Agnew’s concentrates at long last finished into a criminological achievement. In 1992, Robert Agnew distributed a de finite paper officially sketching out the new â€Å"general strain theory† which, rather than following the conventional spotlight on more extensive subculture recognitions and budgetary goals, had an accentuation â€Å"on the individual and their quick social environment†. This new hypothesis developed the financial objectives delineated in strain hypothesis to remember individual objectives for general, for example, getting passing marks or having numerous companions. Moreover, Agnew presented the â€Å"removal of emphatically esteemed stimuli† as a sort of strain, including the view of injustice starting from an absence of applause, or lacking remuneration for additional work. The third wellspring of strain introduced was the nearness of negative improvements, for example, youngster misuse or comparable unpleasant occasions. Strikingly enough, these three new aspects of strain were propelled by explore in fields outside customary criminology, for example, brain science and humanism (Agnew, 1992). Using these new meanings of strain, Agnew could give a hypothetical reason for a wide range of sorts of wrongdoing, a lot more than was conceivable utilizing customary strain hypothesis. A significant part of Agnew’s hypothesis was that he reco rded habits of strain as well as sketched out associations between different strains, and the habits through which they may push a person to misconduct, in new ways that took into consideration more noteworthy exact help than conventional strain hypothesis had the option to acquire. Agnew’s work immediately caught the interests of the criminological network, and in the decades since its presentation, general strain hypothesis has kept on picking up ubiquity over the world. Research keeps on being performed on GST, and the outcomes by and large appear to be ideal for this moderately youthful hypothesis (Sung Joon and Johnson, 2003). As information continuesâ to be accumulated, general strain hypothesis is consistently refined and further characterized, Agnew still investigations, changes, and expounds on his hypothesis (Baron, 2007). Various investigations taken everywhere throughout the globe have given a lot of extra help and extension to GST consistently, however the full profundity of GST’s applications has not yet been completely investigated (Froggio and Agnew, 2007). All things considered, general strain hypothesis has been utilized to clarify numerous parts of wrongdoing, for example, fear mongering, tranquilize misuse, and contrasts in cri me percentages between social classes, between racial gatherings, and between sexual orientations (Agnew, 2010) (Kaufman, Rebellon, Thaxton, and Agnew, 2008). General strain hypothesis has to be sure increased a lot of help, and can clarify numerous parts of wrongdoing, at the same time, as Agnew himself noted, it doesn't represent strains caused through non-social methods, for example, coincidentally or sickness (1992). In its present state, GST is to a greater extent a system for deciding probabilities of abnormality as opposed to a clarification of when and how violations might be submitted (refer to). These and different viewpoints should be represented and tried before GST can turn into a full option in contrast to different hypotheses. Positively, testing for such an expansive range of strains and reactions as of now introduced as a rule strain hypothesis as of now presents a convoluted test to established researchers. There is some hypothesis that the present help appeared for GST in numerous investigations has been earned utilizing mistaken testing strategies (Froggio, 2007). There is additionally examine that shows that while strain may cause specific kinds of guiltiness, it isn't legitimately liable for any nonaggressive wrongdoing. So, GST is still only a dubious hypothesis, with much space for examination and development. It positively appears to conceivably answer numerous issues on the idea of wrongdoing, yet it requires significantly more research before any ends can be made about its veracity and about its latent capacity. Agnew’s work rejuvenated a withering enthusiasm for strain and its effects on degenerate conduct. The truth will surface eventually whether this hypothesis can satisfy the acclaim it has earned in these beginning periods. While its future appears to be splendid, general strain hypothesis for the present remains only an establishment for some future examinations a nd studies. References Agnew, R. (1985). A Revised Strain Theory of Delinquency. Social Forces, 64(1), 151-167. Recovered from EBSCOhost. Agnew, R. (1992). Establishment for a General Strain Theory of Crime and Delinquency. Criminology, 30(1), 47-87. Agnew, R. (2010). A general strain hypothesis of psychological warfare. Hypothetical Criminology, 14(2), 131-153. doi:10.1177/1362480609350163 Aseltine Jr., R. H., Gore, S., and Gordon, J. (2000). Life Stress, Anger and Anxiety, and Delinquency: An Empirical Test of General Strain Theory. Diary of Health and Social Behavior, 41(3), 256-275. Recovered from EBSCOhost. Aristocrat, S. W. (2007). Road Youth, Gender, Financial Strain, and Crime: Exploring Broidy and Agnew’s Extension to General Strain Theory. Freak Behavior, 28(3), 273-302. doi:10.1080/01639620701233217 [Cole, Stephen. (1975). The Growth of Scientific Knowledge: Theories of Deviance as a Case Study. The Idea of Social Structure: Papers in Honor of Robert K. Merton, 175-220 altered by Lewis Coser. New York: Harcourt Brace Jovanovich.] Featherstone, R., and Deflem, M. (2003). Anomie and Strain: Context and Consequences of Merton’s Two Th eories. Sociological Inquiry, 73(4), 471-489. doi:10.1111/1475-682X.00067 Froggio, G. (2007). Strain and Juvenile Delinquency: A Critical Review of Agnew’s General Strain Theory. Diary of Loss and Trauma, 12(4), 383-418. doi:10.1080/15325020701249363 Froggio, G., and Agnew, R. (2007). The connection among wrongdoing and â€Å"objective† versus â€Å"subjective† strains. Diary of Criminal Justice, 35(1), 81-87. doi:10.1016/j.jcrimjus.2006.11.017 Kaufman, J. M., Rebellon, C. J., Thaxton, S., and Agnew, R. (2008). A General Strain Theory of Racial Differences in Criminal Offending.Australian and New Zealand Journal of Criminology (Australian Academic Press), 41(3), 421-437. doi:10.1375/acri.41.3.421 Sung Joon, J., and Johnson, B. R. (2003). Strain, Negative Emotions, and Deviant Coping Among African Americans: A Test of General Strain Theory. Diary of Quantitative Criminology, 19(1), 79. Recovered from EBSCOhost.

CEO, Philip Krim, Became an Entrepreneur in His Dorm Room

Blog Archive Hear How Casper’s Co-Founder/CEO, Philip Krim, Became an Entrepreneur in His Dorm Room Philip Krim, Co-Founder of Casper Today, many aspiring MBAs and MBA graduates want to join start-ups or launch such companies themselves. Is entrepreneurship as exciting as it seems? Is it really for you? mbaMission Founder Jeremy Shinewald has teamed up with Venture for America and CBS Interactive  to launch  Smart People Should Build Things: The Venture for America Podcast. Each week, Shinewald interviews another entrepreneur so you can hear the gritty stories of their ups and downs on the road to success. Philip Krim has been an entrepreneur for more than a decade. His first company was established during one of Krims summer breaks at the University of Texas, when he decided to avoid working a traditional summer job and instead founded the e-commerce company The Merrick Group. By the time Krim graduated, the firm was listed among the 500 fastest growing in the country. Tune in to the podcast to hear what led Krim to co-found the mattress company Casper, as he shares these and other stories: How not one but three close family members ended up working at The Merrick Group What was needed to transform the company he built from his dorm room into a $9.7M success in only five years Why Krim had “sworn off the mattress industry” and how he ended up co-founding one of the most notable mattress companies today Subscribe to the podcast series to hear more exciting entrepreneurial stories like Krim’s! Share ThisTweet News

Khan Academy Free Online Video Tutorials

Khan Academy tutorials have revolutionized the way that people think about teaching and learning online. This non-profit educational website was started by MIT grad Salman Khan. He began using the internet as a way to tutor a young relative and people found his video tutorials so useful that he quit his job and began making educational resources full time. The site now provides more than 3,000 free educational videos on a range of topics including mathematics, economics, history, and computer science.These free lessons are delivered via OpenCourseWare Youtube video clips embedded on the Khan Academy website www.KhanAcademy.org. Many of the videos include free examples and practice exercises. Khan Academy prides itself with having delivered well over 100 million lessons free of charge.One of the advantages of learning from Khan is the nature in which each video tutorial is presented. Rather than looking at the instructors face, the videos are presented in a conversational form as if t he pupil is receiving one-on-one instruction with step-by-step doodles. Khan Academy Tutorial Subjects Each Khan Academy subject is broken down into several categories. Math offers a span from basic Algebra and Geometry up to Calculus and Differential Equations. One of the more unique aspects of this category is the presence of its brain teaser section. In addition to being a good preparation for popular job interview questions, it’s also an enjoyable way to learn different logic principles.The category for Science offers everything from basic Biology to lessons on Organic Chemistry and Computer Science. This section offers some very unique courses on Healthcare and Medicine exploring topics like Heart Disease and Healthcare Costs.The Finance and Economics category offers videos on Banking, the Credit Crisis, and Economics. The Venture Capital courses are within this section and cover everything an entrepreneur would need to know to take a startup all the way to an initial public offering.The Humanities category offers a number of civics and history courses on interesting subje cts like how the United States Electoral College functions. The History courses offer a very detailed examination of world events throughout history. There is even a broad examination of over 1700 years of art history.The fifth and final category is very different from the previous four. It’s called Test Prep and offers courses to assist pupils in preparing to take standardized tests like the SAT, the GMAT, and even Singapore Math.In addition to the rather large selection of learning videos located on the Watch section of the website, there is also a practice section which allows learners to select the areas of learning which they’d prefer to take practice quizzes on. The website allows those that sign in to track their progress through each lesson. It also allows teachers or coaches to track and assist their students as they go through the various lessons.Content is available in subtitles for a wide range of languages and is dubbed in 16. Those interested in volunteer ing are encouraged to help with the translation effort. When taking a break from a course, the Khan Academy offers an area where students can explore a wide range of Khan Academy related talks and interviews primarily involving the founder Salman Khan.br/>The wealth of information available at Khan Academy makes it one of the most popular learning websites on the internet. It’s used by young and old alike to learn, practice and improve different skills. With some lessons taking less than ten minutes and with the ability to pause, one can control the rate at which they learn and adjust their study efforts to meet any schedule. A pilot program is currently in place to test the integration of Khan Academy with a number of traditional schools. With such popularity, it seems very likely that content from online sources such as Khan Academy will increasingly be found in traditional classrooms as a way to augment the curriculum. Khan Academy Apps The official mobile app to view and access Khan Academy is available free via the Apple iTunes store. Android users can download the Khan Academy App from Google Play.   Getting Credit for Khan Tutorials While you can’t earn college credit just by viewing the Khan Tutorials, you can use them to earn credit via testing. Take a look at this article to find out how to get college credit by exam.

4 Things That Define Minerals

In the field of geology, you will often hear a variety of terms including the word mineral. What are minerals, exactly? They are any substance that meets these four specific qualities: Minerals are natural: These substances that form without any human help.Minerals are solid: They dont droop or melt or evaporate.Minerals are inorganic: They arent carbon compounds like those found in living things.Minerals are crystalline: They have a distinct recipe and arrangement of atoms. Despite that, though, there are still some exceptions to these criteria. Unnatural Minerals Until the 1990s, mineralogists could propose names for chemical compounds that formed during the breakdown of artificial substances...things found in places like industrial sludge pits and rusting cars. That loophole is now closed, but there are minerals on the books that arent truly natural. Soft Minerals Traditionally and officially, native mercury is considered a mineral, even though the metal is liquid at room temperature. At about -40 C, though, it solidifies and forms crystals like other metals. So there are parts of Antarctica where mercury is unimpeachably a mineral. For a less extreme example, consider the mineral ikaite, a hydrated calcium carbonate that forms only in cold water. It degrades into calcite and water above 8 C. It is significant in the polar regions, the ocean floor, and other cold places, but you cant bring it into the lab except in a freezer. Ice is a mineral, even though it isnt listed in the mineral field guide. When ice collects in large enough bodies, it flows in its solid state -- thats what glaciers are. And salt (halite) behaves similarly, rising underground in broad domes and sometimes spilling out in salt glaciers. Indeed, all minerals, and the rocks they are part of, slowly deform given enough heat and pressure. Thats what makes plate tectonics possible. So in a sense, no minerals are really solid except maybe diamonds. Other minerals that arent quite solid are instead flexible. The mica minerals are the best-known example, but molybdenite is another. Its metallic flakes can be crumpled like aluminum foil. The asbestos mineral chrysotile  is stringy enough to weave into cloth. Organic Minerals The rule that minerals must be inorganic may be the strictest one. The substances that make up coal, for instance, are different kinds of hydrocarbon compounds derived from cell walls, wood, pollen, and so on. These are called macerals instead of minerals. If coal is squeezed hard enough for long enough, the carbon sheds all its other elements and becomes graphite. Even though it is of organic origin, graphite is a true mineral with carbon atoms arranged in sheets. Diamonds, similarly, are carbon atoms arranged in a rigid framework. After some four billion years of life on Earth, its safe to say that all the worlds diamonds and graphite are of organic origin even if they arent strictly speaking organic. Amorphous Minerals A few things fall short in crystallinity, hard as we try. Many minerals form crystals that are too small to see under the microscope. But even these can be shown to be crystalline at the nanoscale using the technique of X-ray powder diffraction, though, because X-rays are a super-shortwave type of light that can image extremely small things. Having a crystal form means that the substance has a chemical formula. It might be as simple as halites (NaCl) or complex like  epidotes (Ca2Al2(Fe3, Al)(SiO4)(Si2O7)O(OH)), but if you were shrunk to an atoms size, you could tell what mineral you were seeing by its molecular makeup and arrangement. A few substances fail the X-ray test. They are truly glasses or colloids, with a fully random structure at the atomic scale. They are amorphous, scientific Latin for formless. These get the honorary name mineraloid. Mineraloids are a small club of about eight members, and thats stretching things by including some organic substances (violating criterion 3 as well as 4).

Physician Assisted Suicide - 1418 Words

Imagine a cancer patient on a short rode to death. The pain this patient is experiencing is unreal and unimaginable to most. The pain medicine that can be used does little to take the agony away. The doctors can put the patient in an induced coma, but what kind of living is that? It is not living. The patient does not want to go on. Is it so wrong to ask for a way out? With less than six months to live, the patient’s hope is gone. Many argue that euthanasia is not ethical, but is it really ethical to let someone live in constant, horrifying pain and agony? While in some cases having the right to die might result in patients giving up on life, physician-assisted suicide should be legalized in all fifty states for terminally ill patients with worsening or unbearable pain. What is physician-assisted suicide? â€Å"Suicide is the act of taking ones own life. In assisted suicide, the means to end a patient’s life is provided to the patient (i.e. medication or a weapon) with knowledge of the patients intention† (American Nurses Association). Physician-assisted suicide is known by many names such as death with dignity, right to die, and of course, euthanasia. Euthanasia is a much more in-depth term concerning the patient and the type of suicide. Euthanasia, often called mercy killing, is the act of putting to death someone suffering from a painful and prolonged illness or injury. Euthanasia means that someone other than the patient commits an action with the intent toShow MoreRelatedEssay On Physician Assisted Suicide1549 Words   |  7 PagesWriting Project Worksheet 1. This paper will examine the Washington state policy of physician-assisted suicide. 2. State Info: (characteristics, size, culture, political culture, industries, features, etc. to explain state support of policy) Washington is a state in the northwestern United States with an estimated population of 7,288,000, as of July 1, 2016. Washington’s population is primarily white at 69% (not including Hispanics), with Hispanics comprising 12.4%, Asians 8.6%, and African AmericansRead MoreThe Treatment Of Physician Assisted Suicide1025 Words   |  5 Pagesprecious hour will give the loved ones a time to say goodbye just before they die with dignity in physician assisted suicide. Terminally ill patients have the right to end their own lives using physician assisted suicide (PAS) without repercussions of laws and people with opposing opinions. According to an article from CNN.com, there are currently five states in the U.S. where physician-assisted suicide is currently legal. In order to be eligible legally for PAS the patient must have six months orRead MorePhysician Assisted Suicide2301 Words   |  10 Pagesend-of-life decisions is â€Å"physician-assisted suicide† (PAS). This method of suicide involves a physician providing a patient, at his or her own request, with a lethal dose of medication, which the patient self-administers. The ethical acceptability and the desirability of legalization of this practice both continue to cause controversy (Raus, Sterckx, Mortier 1). Vaco v. Quill and Washington v. Glucksberg were landmark decisions on the issue of physician-assisted suicide and a supposed ConstitutionalRead MoreThe Ethics Of Physician Assisted Suicide926 Words   |  4 Pagesethics of physician assisted suicide since the late 18th century. According to medicinenet the definition of physician assisted suici de is â€Å"the voluntary termination of one s own life by administrating a lethal substance with the direct assistance of a physician.† This would typically come into play if/when a critically ill patient wants to end their suffering. Confirming with the State-by-State Guide to Physician-Assisted Suicide, 5 states have Paquin 2 Legalized physician assisted suicide. CaliforniaRead MorePhysician Assisted Suicide Essay1214 Words   |  5 Pagesrelentless pain and agony through physician assisted death? Physician-Assisted Suicide PAS is highly contentious because it induces conflict of several moral and ethical questions such as who is the true director of our lives. Is suicide an individual choice and should the highest priority to humans be alleviating pain or do we suffer for a purpose? Is suicide a purely individual choice? Having analyzed and even experience the effects of physician assisted suicide, I promote and fully support itsRead MorePhysician Assisted Suicide Is A Controversial Topic1929 Words   |  8 PagesOne may have heard of suicide, but not physician-assisted suicide. The two are very different in terms of the act of taking one’s own life. For instance, physician-assisted suicide is done with help from another person, usually a physician; where the doctor is willing to assist with e ither the means of how to take one’s own life or the actual act itself. This can either be by prescribing lethal doses of drugs to these patients who want to take their own life or by counseling these patients onRead MorePhysician Assisted Suicide : A Controversial Subject1692 Words   |  7 PagesPhysician-assisted suicide is a controversial subject all around the world. Although it is legal in some countries and states, such as the Netherlands, Luxembourg, Switzerland, Oregon, Montana, Washington, and Vermont it is not yet legal in most (Finlay, 2011). People travel from all around the world to these locations to receive information. Physician-assisted suicide is when terminally ill and mentally capable patients perform the final act themselves after being provided with the required meansRead MoreEssay on Legalizing Physician-Assisted Suicide1871 Words   |  8 PagesPhysician-assisted suicide should be a legal option, if requested, for terminally ill patients. For deca des the question has been asked and a clear answer has yet to surface. It was formed out of a profound commitment to the idea that personal end-of-life decisions should be made solely between a patient and a physician. Can someones life be put into an answer? Shouldnt someones decision in life be just that; their decision? When someone has suffered from a car accident, or battled long enoughRead MoreThe Rights Of Physician Assisted Suicide1347 Words   |  6 PagesThe Right to Die By: Antony Makhlouf Antony Makhlouf PHR 102-006 Contemporary Moral Issues Final Paper The Right to Die Physician-assisted suicide, also known as euthanasia, has been a hot topic as of late. If you do not know what this is, physician-assisted suicide is the taking of ones life. This usually occurs when a patient is in a irreversible state, and must live through a tube. With multiple cases occurring in the past, current and the more to occur the in the future, this looksRead MorePhysician-Assisted Suicide Essay1038 Words   |  5 Pagesof their patients, or to assist them in ending their lives? Many people may believe that physicians would never perform the latter, but in actuality one practice does so. Physician assisted suicide is the intentional ending of one’s life brought on by lethal substances prescribed by a doctor. In the majority of cases, the patient is terminally ill and simply does not desire to live any longer. Their physician provides the medication necessary to end their life. Many supporters aver that this practice

Auditors Report of ABC Learning Centre †MyAssignmenthelp.com

Question: Discuss about the Downfall of the ABC Learning Centre. Answer: Introduction The ASA701 Communicating Key Audit Matters in the Independent Auditors Report, is a new standard that has been developed by the IAASB, it deals with the duties of the auditor to comment on key important matters of the financial statements that focuss on the assumption of going concern. It applies to all audits of the general purpose financial statements of all the listed companies. Whnever the auditor is required to communicate the key audit matters to the important entities that ask for the same, or when the auditor does it on voluntary basis, the auditor needs to follow this standard. It applies to the audit of the financial statements for the period ending on or after December 15,2016. It ahs been one of the biggest changes in the overall standards of auditing, since it was first developed in 2004. The main reason behind this change was to help the investors and provide the shareholders of the companya snapshot of the overall audit so that they can comment on important matters in the lieu of the same. This is main reason that this standard was developed. But the first initiation that was taken to develop this standard occurred when the global crisis occurred with the downfall of the ABC learning center. This led to the need of developing a standard that can help the investors in getting an insight into the financial of the company and also with the auditors stating their take on the key audit matters , it helps in development of the effectiveness of the overall report. Thus these standards are very important and it is important that the auditor follows the same to the best of his ability. In cases if he fails to amke his report on the basis of these standards than the auditor will be held liable by the government and can be penalised for the same. The downfall of the ABC learning centre was the major reason that led to the development of this stanadard and we will analyse the overall effect it had on the functioning of the company. And what if the auditors h ad followed the standard before the crisis, would the global crisis would have been prevented or not(Abbott et al., 2016). Analysis Downfall of the ABC Learning Centre The ABC learning centre was founded in 1988. By 1996, the company had around 18 childcare centres and was one of the biggest players of the private childcare centre in Australia. By 2201, the company was listed on the Australian Stock exchange and by 2007; the overall market capitalisation of the company grew to about a$2.5 billion. The company reported an after tax profit of A$143.1 million and revenues of A$1.7 billion. However, post that the business was not functioning well and the company had to incur a lot of debt, which led to the delisting of the company from the stock exchange and the went into liquidation. Because of all these, the investors who had invested in the company had to suffer a lot, there was a decline in the share price of the company from the highest bid of A$8.62, to as low as A$0.54. This showed how badly the investor had suffered because of the delisting of the company and its failure to continue as a going concern(Burke Clark, 2016). Many factors led to th e downfall of the company that included the bad business model, regressive accounting policies, large capital expenditures, and poor acquisition policies, low advantage levels all that in combination led to the downfall of the company and had affected the investors of the company. After the collapse of the company, the investors found that the business model of the company was very hard to decipher and the overall operations that the company undertook was very opaque that was where the company failed. If the accounts of the company were properly audited and the key matters were included, then such loopholes would have been identified and that would have helped the investors of the company in taking important decisions and could have saved them from such major losses(Brannen, 2016). The major accounting issues that were involved in the downfall of the company involved the need of recognition of certain items in the auditors report as key audit matters. The first was the huge flaws in the intangible assets of the company and the same was not even recognising by the stock exchange on which the company had its account listed. The company had a large number of intangible assets in its financial statements, like goodwill, derivatives, and other biological assets that were hard to value and accounted for. Most of these assets were because of the companys aggressive acquisition policy rather than the basic operational business model. The problems was not there just in the functioning of the company , but the auditors that were appointed also failed to do their task with diligence. Since 2003, the company had appointed Pitcher Partners Brisbane firm, to audit its account, and the auditor happily obliged with the view of the management and issued unqualified audit report . They failed to identify that the overall payments from the loss making centres were shown as normal revenues and hid the fact that these institutions were merely El Dorado for ABC Learning shareholders. The Pitcher partner supported the same, and this led to the accumulation of millions worth intangible assets on the financial report of the company that was not valued properly and was neither accounted for. Many experts described the situation as the failure of the accounting and regulatory processes and deviation from the standard laws and methods. When the new auditor Ernst Young's took over from the previous auditor, and started the overall auditing process, it found that there were many loopholes in the overall accounting process of the company. It took over the audit from the year ending 2007, and it took seven weeks for the company to provide them with their interim reports. When the new auditor tried to reconcile their findings with those of the previous year, they found that there were many issues involved. When they asked the management of the company to make the requisite changes, the management found that if they inculcate all that the new auditors are telling in their books of account, it would lead to a lot of chaos on part of the management. The Ernst Young's audit was able to provide a clearer and true picture of the position of the company apart from what the previous auditor presented that was more of an illusion than a reality. Because of the deadlock of opinion between the two auditors, a third party was rop ed in to comment on the overall financials of the company. However, as per reports, KPMG was not successful in proving any of the auditors wrong. This raises a very important question to where is this process of auditing heading and what is something that the investors can believe that can help them in taking decisions. The main points that were concluded were that there elitists an audit expectation gap, a spar which people expect that the auditor goes through everything, every small details related to the business and comments on the proximity of the business. The company appoints the auditors, to check the accounts to have an assurance that the accounts of the company are OK. When they find matters that are fishy, than they look deep into the matter and probe the same, just as the EY team did in case of the ABC(Jones, 2017). It is very well stated that the work of the auditor of the company is to just express an opinion and not certify or justify anything. There are guidelines that have been prescribed to the auditors, but as the we see in the case of ABC that there is many divergent opinions that might affect the overall audit statements and reports. So the main question is whom the investors should rely on and what should be there taking if the audit is not done with the conviction that is requ ired. It has been said that such standards must be developed that helps the accountants and the auditors of the company to give their opinion on unique matters that are related to accompany rather than strict standards that allows them to try to cover everything and fail. Hence, the need for such strong auditing standards have raised that has led to the development of the ASA 701 Communicating Key Audit Matters in the Independent Auditors Report(Guragai et al., 2017). Features of the ASA 701 The main features of the standards includes that it asks the auditors to comment of the key matters of governance and make an opinion on the same. It is applicable to all the listed companies so that it provides some help to the investors that depends on these reports for their decisions. The auditor has the right to decide the key audit matters. The auditor can determine the same, by mandating the matters with those charged with governance and making an opinion on the matters that they feel require special attentions. They must take matters that are more prone to risk, like the intangibles, acquisition, revenue and taxes. These areas will include significant auditors judgment, management judgment, and specific event and transaction that will affect the same The auditor describes each of the KAM with utmost precision and proper scrutiny must be done before stating the same in the reports. Proper description with regard to each matter must be given and how is it affecting the overall profit of the company. Specific circumstances, in which the matters related to the KAM, cannot be included in the auditors report. The audit documentation must be related to the key audit matters. In addition, all the documents must be properly stored by the auditor and used as audit evidences(Knechel Salterio, 2016). Effect of the ASA 701 on the ABC crisis If these standards were developed before the crisis took place, it would have helped the auditors of the company and the auditors those were at fault had to comment on the key matters that were important. Because these standard was not there, the Pitcher Partner firm very easily stated that it still stands with all the opinion that is framed on the financials of the company, and the application and interpretation of the accounting standards is subject to the overall personal judgement and understanding. Hence making it clear that it possible that two auditors can have different opinion on the same company, because there is no specific standards that can ask the auditor to comment on certain specified matters. The auditors will check the accounts or their own assurance that they are ok, and in cases when they find discrepancies, they will probe further. Hence, it allowed the previous auditor to make use of major loophole in the auditing standards(Sonu et al., 2017). If this standard w as there beforehand, the company had to include proper details regarding many matters that included the intangibles and the overall revenues from the loss making units. Because of this downfall of the ABC learning centre the need for the new standards has raised so that the investors who are dependent on the audit report, who cannot have an insight in the financials of the company can easily take important decisions. In addition, it also makes the auditor more responsible and they cannot foray into wrongdoing with ease. They have to comment effectively and give their opinion and the management has to provide support to the auditors of the company in whichever very possible(Raiborn et al., 2016). Conclusion Hence through the above discussion and analysis we saw how important it is that the audit report that the company is providing to the investors and the auditors who are authenticating and forming the same, must do their work with utmost effectiveness and precision. It is very important that the investors who are relying on these reports gets the facts that can help them in taking important decisions with regard to the company they are investing their money in. In case of the ABC Company, the investor has to face a huge loss because as per the auditor, the company was doing well, had large revenues, and was a going concern entity. However, in reality most of the revenue that was shown was dud, and the company was incurring huge losses(DeZoort Harrison, 2016). So when suddenly the company went into liquidation, these investors were very terribly affected. This again emphasises the importance of audit and preparation of the financial statements of the company to best of ones ability, s o that all the stakeholders including the investors, government, public, who depends on these reports to take important decisions are able to benefit with the same. The issued new standard will help in solving a large number of issues, it is one of the biggest changes in the accounting standards since 2004, and will give power to the auditor with the abolition of many loopholes that was previously there in the system(Lefkowitz, 2017). References Abbott, L.J., Daugherty, B., Parker, S. Peters, G.F., 2016. INTERNAL AUDIT QUALITY AND FINANCIAL REPORTING QUALITY: THE JOINT IMPORTANCE OF INDEPENDENCE AND COMPETENCE. Journal of Accounting Research, 54(1), pp.3-40. Brannen, J., 2016. Mixing Methods: Qualitative and Quantitative Research. NY: Ashgate Publishing. Burke, J.J. Clark, C.E., 2016. The business case for integrated reporting: Insights from leading practitioners, regulators, and academics. Business Horizons, 59(3), pp.273-83. DeZoort, F.T. Harrison, P.D., 2016. Understanding Auditors sense of Responsibility for detecting fraud within organization. Journal of Business Ethics, pp.1-18. Guragai, B., Hunt, N.C., Neri, M.P. Taylor, E.Z., 2017. Accounting Information Systems and Ethics Research: Review, Synthesis, and the Future. Journal of Information Systems: Summer 2017, 31(2), pp.65-81. Jones, P., 2017. Statistical Sampling and Risk Analysis in Auditing. NY: Routledge. Knechel, W.B. Salterio, S.E., 2016. Auditing:Assurance and Risk. 4th ed. New York: Routledge. Lefkowitz, J., 2017. Ethics and Values in Industrial-Organizational Psychology, Second Edition. 2nd ed. NY: Routledge. Raiborn, C., Butler, J.B. Martin, K., 2016. The internal audit function: A prerequisite for Good Governance. Journal of Corporate Accounting and Finance, 28(2), pp.10-21. Sonu, C.H., Ahn, H. Choi, A., 2017. Audit fee pressure and audit risk: evidence from the financial crisis of 2008. Asia-Pacific Journal of Accounting Economics , 24(1-2), pp.127-44.