Interpersonal Communication The Power Of Eye Contact

Interpersonal Communication: The Power of Eye Contact Introduction Interpersonal communication is essential in all forms of human interaction, given the complex nature of human survival and socialization. Hence, interpersonal communication is defined as pertaining to the process of ‘sending’ and subsequent ‘receiving’ of information between two or more individuals. Accordingly, it is common knowledge that when two or more individuals meet and strike up a conversation, they tend to look at each other. In addition, a common saying portrays that the eyes are ‘a window to one’s soul’, in that they can provide much more information about a person through just gazing into them during interaction (Koerner, 2006). This is influenced by the fact that human beings cannot manipulate the pupil, hence the true presentation of an individual’s inert intentions, meaning or attitude. For effective communication to occur, the element of eye contact is important. Truth be told, there is need for effective eye contact to be able to effectively connect with others during interaction, thereby effectively sharing the information present. The initial step of communication between individuals is to aptly recognize each other, with this being best effected through eye contact (Koerner Floyd, 2006). Eye contact is therefore vital during interaction for the concerned people to effectively feel, and subsequently share information with each other. Thus, there can be further persuasion of enhancedShow MoreRelatedCOR109 Essay1269 Words   |  6 Pagesï » ¿ Assessment Task- Evaluate the extent to which electronic communication enhances or detracts from the quality of interpersonal communication compared to face-to-face communication. Your analysis must engage with three elements of interpersonal communication (for example, eye contact or gestures) and discuss how each is affected by one particular electronic channel of communication. Your essay should be grounded in communication theory from appropriate academic sources. Name: Student I.D:Read MoreNon-Verbal and Intercultural Communication861 Words   |  3 PagesIt is interesting to note that non-verbal communication is very complex and sometimes confusing to others. Non-verbal communication can be ambiguous, but at the same time it is not more important than verbal communication and it is different from culture to culture, Baden Eunson (2005). Baden Eunson provide examples where he states that non-verbal communication is not something that we can read and understand easily, contrary non-verbal communication is very complex and it’s consisted of one or moreRead Moremr dddsdddd1164 Words   |  5 Pagesï » ¿GS0155 Interpersonal Communication Summary of concepts from Lecture 1 to Lecture 10 Lecture 1: Universals of IPC What is interpersonal communication? Nature of IPC: dyadic approach a. Dyadic b. Dyadic primacy c. Dyads Two types of dyadic connection: a. Dyadic coalition b. Dyadic consciousness Elements of Interpersonal Communication: (the model of IPC) a. Source-Receiver (encode, decode) b. Messages (feedback message, feed forward message) c. Channel d. Noise (Physical, PhysiologicalRead MoreInformation And Ideas Is A Method Of Communication1129 Words   |  5 Pages Trading information and ideas is a method of communication. To be a successful and beneficial member of your workplace it is essential that you become skilled in all of the various ways of communication that are appropriate. The reason of communication is to get your message across to others clearly and with certainty. Doing this includes effort from both the one sending the message and the one receiving it. And it s a procedure that can be filled with error, with messages often misunderstood byRead MoreThe Role Of Effective Communication And Interpersonal Interaction Within A Health And Social Care Context?1702 Words   |  7 PagesP1) Explain the role of effective communication and interpersonal interaction in a health and social care context? Communication is the process of exchanging information, thoughts and feelings between people, through speaking, writing or body language. Effective communication is about more than just exchanging information. This concept makes sure that the transmitted message is received and understood by the other person in the exact way it was intended. However the other person has to demonstrateRead MoreEssay about Improving Personal and Organizational Communication826 Words   |  4 PagesImproving Personal and Organizational Communication Be it organizational or personal, here are the major two different kinds of communication; Impersonal: one-way communication mainly used for facts, policies, instructions, notes, etc. Interpersonal: Two-way communication i.e. discussions, arguments, open forum, etc. Before we can improve communication, we must first discuss communication filters. Communication filters are, but not limited to, semantics, emotions, attitudes, role expectationsRead MoreCommunication Plays a Vital Role in Interpersonal Relationships1312 Words   |  6 PagesCommunication Plays a Vital Role in Interpersonal Relationships Interpersonal communication is a very important forms of communication that is vital to all society and human beings, since humans are sociable people we enjoy interacting with one another on many different levels. When we do not understand how to communicate properly with each other poor communication skills is the main cause of many broken relationships and marriages . To understand communication we have to understand that communicationRead MoreVerbal Communication : Nonverbal Communication1428 Words   |  6 Pagesuse to perceive that rolling eyes, shrugging shoulders, and nodding head etc. are just the attitude of people. The real communication is just based on the words we communicate with each other to deliver our messages and intentions. However, after taking this class it is quite clear to me that communication is not just verbal communication but nonverbal as well. After taking this course, I have become able to understand the nonverbal aspects in each and every communica tion, I use to encounter with orRead MoreExplain the Role of Effective Communication and Interpersonal Interaction in a Health and Social Care Setting. Skilled Communication Plays a Huge Role in Health and Social Care Such as Psychotherapy, Counselling, Medical and Health Care1117 Words   |  5 PagesExplain the role of effective communication and interpersonal interaction in a health and social care setting. Skilled communication plays a huge role in health and social care such as psychotherapy, counselling, medical and health care. Effective communication and interaction play an important role in the work of all health and social care professionals. For example, care professionals need to be able to use a range of communication and interaction skills in order to work inclusively with peopleRead MoreReflection On Interpersonal Communication1724 Words   |  7 Pageswhen we talked about non-verbal communication, I realized that it is impossible to not communicate. There are many activities, other than the use of language, that allow us to draw meaning from something we observe. When my mother widens her eyes at me without stating a word, I understand she is telling me to think twice about the action I’m about to take. It has been great to be able to assign concepts and vocabulary to interpersonal relationships and communication activity that I have been experiencing

Sci/241 Final Project Personalized Nutrition and Exercise...

Throughout this paper you will find that it is going to be discussing many things. Some of those things are to describe a current health problem or nutritional need that I may be experiencing, four nutritional or physical exercise goals, the actions taken to meet each goal, the anticipated setbacks or difficulties and the approaches to overcome them, the outcomes by which to measure success, evidence of the plans effectiveness by addressing the identified problem or need, and the evaluation of potential health risks that may develop if the plan is not implemented. So basically this paper is going to be about a realistic nutrition and exercise plan that best suits me. A current health problem that I am facing is the fact that I am†¦show more content†¦I can also up the minuets as each week goes by, by about five to ten minutes more. As mentioned before the nutritional goal to add more fruits and vegetables in my diet would be to substitute unhealthy foods for healthy foods wh ile eating out. Also I can purchase more of these foods so I will have them to eat at home. Actions that can be taken for using the pedometer would be to lay the pedometer by my bed or next to my shoes. This way it is right where I need it and it will be a constant reminder to put it on before I start each day. For making a list of foods to buy before going to the grocery store would be to set aside some time to sit down and think of the foods that are interesting and healthy to me before i make my list out. I can also go through my pantry and find foods that I do not have so much of. This will make is so much easier when going to the grocery store. I will also have my meals planned ahead of time. Some of the setbacks or difficulties that may arise while exercising for 30 minutes or more a day would be finding the time to do it. I know that it will not be easy considering I have a four year old little girl and a baby on the way. As of right now I am not that busy and I have plenty o f time to set aside for exercise. But I do know that things arise as each day is different. A setback for adding fruits andShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesthe planet since 50,000 b.p.. These migratory currents have connected all the continents since 1500 C.E., helping create the political, social, and ethnic landscapes of the world today. Premodern societies were far from static.1 But we cannot project this fact into a history of mobility that is one of simple continuity or gradual change. The conceptual association of mobility and modernity is not just a teleological assumption. Moving may have been one of the elemental activities of our species

Romanticism Analysis Free Essays

To a Mouse†- Robert Burns (Handout) Let life run its course The poem denotes the narrator of the poem is plugging his field when he cuts through a mouse nest. The poet shows regret and apologizes to the mouse before he goes on a tangent which reveals the deeper meaning of the poem. The connotation is that in life, we plan and do everything to make the future sweet Just like a mouse, yet luck can come and ruin it in one second. We will write a custom essay sample on Romanticism Analysis or any similar topic only for you Order Now Life is unpredictable, and while preparing for the unpredictable future we aren’t enjoying the present moment – which the souse seems to be able to do. The narrator reminisces on ‘prospects dreary’, I. E. Bad events that have happened in the past which in some ways prevent him from moving on. Furthermore, some say that he is very fearful of the future and that these two reasons do not allow him to enjoy the present. He is also hinting that we ‘humans’ aren’t very empathic or sympathetic towards animals and nature like this mouse, but both species prepare for the future hoping for nothing to affect our smooth lives. He asks, so what if the mouse steals our corn it still has to survive – and this is the same or humans: so why are we so apart? Burns is talking about dreams and how there’s no difference between mice’s dream or a man’s dream. He’s saying that dreams are useless that they only leave you in pain and grief. â€Å"The Lamb†- Blake (712) Lamb represents goodness kindness and Jesus The poem begins with the question, â€Å"Little Lamb, who made thee? † The speaker, a child, asks the lamb about its origins: how it came into being, how it acquired its particular manner of feeding, its â€Å"clothing† of wool, its â€Å"tender voice. In the next Tanta, the speaker attempts a riddling answer to his own question: the lamb was made by one who â€Å"calls himself a Lamb,† one who resembles in his gentleness both the child and the lamb. The poem ends with the child bestowing a blessing on the lamb. â€Å"The Tiger†- Blake (712) Good and evil come from the same source? Did lamb creator create tiger? The poem begins with the speaker asking a fearsome tiger what kind of divine being could have created it: â€Å"What immortal hand or eye/ Could frame they fearful symmetry? † Each subsequent stanza contains further questions, all of which refine this first one. From what part of the cosmos could the tiger’s fiery eyes have come, and who would have dared to handle that fire? The speaker wonders how, once that horrible heart â€Å"began to beat,† its creator would have had the courage to continue the Job. Comparing the creator to a blacksmith, he ponders about the anvil and the furnace that the project would have required and the smith who could have wielded them. And when the Job was done, the speaker wonders, how would the creator have felt? â€Å"Did he smile his work to see? † Could this possibly be the same being who made the lamb? The world s too much with Us†- Wordsmith (733) Man is so out of tune with nature and so obsessed with the materialistic things in life. The writer would rather be pagan than suffer seeing how man is attached. At least Pagans are intact with nature as he is very angry with man. â€Å"Chimney Sweeper†- Blake (Handout) Argument against child exploitation The poem â€Å"The Chimn ey Sweeper,† in both Songs of Innocence and Songs of Experience, protests the living conditions, working conditions, and the overall treatment of young chimney sweeps in the cities of England. Little boy soothing other ho is crying due to loss of hair as someone shaved it. No hair no dirt no problem innocent view. Having a dream about heaven that if he does his duty then all will be alright and he will move to heaven â€Å"London†- Blake Harsh conditions of England through the French Revolution The poem was published during the upheavals of the French Revolution, and the city of London was suffering political and social unrest, due to the marked social and working inequalities of the time. An understandably nervous government had responded by introducing restrictions on the freedom of speech and the manipulation f foreign mercenaries. The City of London was a town that was shackled to landlords and owners that controlled and demeaned the majority of the lower and middle classes. Within the poem that bears the city’s name, Blake describes 18th century London as a conurbation filled with people who understood, with depressing wisdom, both the hopelessness and misery of their situation. The Sick Rose†- Blake (714) Love destroyed by Jealousy possessiveness Alternatively the poem may suggest that all beauty is susceptible to destruction or itself has the power to destroy. It is a reminder that there is a good and evil side to all things – love can be both Joyful and painful, and all life is proceeded by death. â€Å"l Wandered Lonely as a Cloud†- William Wordsmith (735) The memory of daffodils remains imprinted in the tellers mind as it is beautif ul The speaker says that, wandering like a cloud floating above hills and valleys, he encountered a field of daffodils beside a lake. The dancing, fluttering flowers stretched endlessly along the shore, and though the waves of the lake danced beside the flowers, the daffodils outdid the water in glee. The speaker says that a poet could not help but be happy in such a Joyful company of flowers. He says that he stared and stared, but did not realize what wealth the scene would bring him. For now, whenever he feels â€Å"vacant† or â€Å"pensive,† the memory flashes upon â€Å"that inward eye / That is the bliss of solitude,† and his heart fills with pleasure, â€Å"and dances with the daffodils. † â€Å"Solitary Reaper†- Headwords (Handout) Girl speaking in dialect. Although can’t understand still hears songs playing in his head for which he is grateful even as he hears no more â€Å"The Solitary Reaper† begins tit the speaker instructing us to look upon â€Å"Yon solitary Highland Lass† who is â€Å"Reaping and singing by herself†. Thrilled by her song, the speaker compares the girl to a nightingale whose â€Å"melancholy strain† welcomes â€Å"weary bands / Of travelers† to â€Å"some shady haunt, / Among Arabian sands†. Yet he does not understand the words of her song (presumably they are in the Scottish Gaelic language), and impatiently cries, â€Å"Will no one tell me what she sings? He wonders if the subject is of â€Å"battles long ago† or of commonplace and universal things (â€Å"familiar matters of to-day†), reaps â€Å"some natural sorrow, loss, or pain. † Then he dismisses his own musings â€Å"Whatever the theme,† he says, â€Å"the Maiden sang / As if he r song could have no ending† -and refocuses his attention on the song. He listens, â€Å"motionless and still†, before finally mounting the hill and leaving the solitary reaper, still singing, behind. Though his ears cannot hear the song anymore, the sound of the Highland Lass’s music will forever be a fresh and evocative memory in his heart. The Rime of the Ancient Mariner†- Coleridge Mariner has to tell a story- when he has an agony feels he must let it out by telling Tory. First he tells it to wedding guests- admits to shooting albatross for no reason and that nature will punish him, the albatross hangs around his neck as a burden until he blesses the sea creatures and continues towards penitence for remorse. Eventually it falls off. The wedding guests learn that all creatures regardless of size great and small, are made equal in Gods eyes and that none is to harm one over the other. â€Å"Ode to the West Wind†- M. Shelley Wind is both a destroyer and preserver. West Wind Blows leaves off tree only to cover up seeds to allow them to grow. Spring Wind â€Å"Commanding†- Shelley (782) Traveler tells story of irony that he witnesses in the desert. A broken statue that has inscribed king of kings, look on my works, but in reality there is nothing but vast desert surrounding him. Egyptian attempt towards eternal life. â€Å"Bright Star WSDL I Were Steadfast As thou Art†- Keats (804) Man addressing star. He longs to be like the star as it is steady and unchanging. But does not want to resemble the loneliness, lone splendor and doesn’t want to look down on life by himself. Ode on a Grecian Urn†- Keats (799) Images inscribed onto urn prove to be story. His imagination wonders and he embraces a love so close to kissing the women but would rather hold back in order to always have that wondrous feeling of what it would feel like. Beauty and truth are only things that actually last for ever. â€Å"When I have fears that I may cease to be†- Keats (803) Keats describes fears of death through what the narrator wishes to accomplish through life. He fears death because he will miss the great things such as love, fame, and writing. This poem reflects Keats worst fears; to die too soon† When I have fears hat I may cease to be†. The speaker in Keats poem actually reflects what is going on in Keats’ mind†¦ Keats knew that he will die too soon because of his disease, and what hurts him the most is not being able to write his poems which will lead him to fame, and the loss of his beloved one†¦ Keats recognizes the fact that death is inevitable but he doesn’t want to die before he writes his poems†¦ And before his â€Å"pen has gleaned my teeming brain†Ã¢â‚¬ ¦ He is afraid that he will never be able to look at his â€Å"fair creature of an hour†. How to cite Romanticism Analysis, Papers

Accounting Case Study Manipulations and Fraudulent

Question: Discuss about the Accounting Case Study for Manipulations and Fraudulent. Answer: 1: In the news coverage it is mentioned that all companies are always interested in the presentation of financial reports and statements in such a manner that it looks like very glossy and bright but in actual sense it something else. This is very much when checked in details then lot of manipulations and fraudulent entries or transactions are found then they no more remain that bright as presented. The newspaper which is in reference is the New York Times. An article on accounting is written by Peter J.Henning dated 12th September, 2016 and it is titled as Polishing Financial Results Looks Good, but Can Lead to Fraud. A report by Standard Poors indexing on companies reporting standards have mentioned that an estimate of 448 companies studied out of 500 companies, it is observed that those 448 companies are using the non-GAAP or non-Generally Accepted Accounting Principle methods for the maintenance of their business accounting operations and only 52 are actually following the Generally Accepted Accounting Principles or GAAP methods to record all business transactions and financial activities (Bolt. Lee, 2010). The companies those used non-GAAP methods are always tend to show the financial reports after exclusion of many transactions which may not be of much usage in the future but it actual shows the financial result as much brighter but actually hazy. The note of Jason Voss in The Enterprising Investor blog The non-GAAP metrics tend to move in only one direction: up. The news has highlighted two events that shook the business world and also presented financial results in a greatly manipulating manner. A real estate company American Realty Capital Partners, a non GAAP methodical company which became Vereit last years after changing name. The companys former chief financial officer, Brian Block was charged last week by The Justice Department for filings wrong financial reports with the Securities and Exchange Commission and also for conspiracy, securities fraud, inflating companys funds from business operations. Although the lawyer of Brian Block gave claimed that he is absolutely innocent and he will relieved by the court (Expertscolumn, 2016). The former chief accounting officer of the company, Lisa P. McAlister is also found guilty in charges of financial misrepresentations and fraudulent activities done but is under waiting till the judgement and prosecution of Block is not over. Lisa have admitted in her statement that she was directly involved with Block to do the cover up of the false statements presented. Actually in the first quarter of 2014, there was a mistake in the figure of funds from operations adjusted and there was no rectification done to this mistake observed. But instead Block and Lisa teamed up to change the excel figures to show the financial reports very bright although it was inflated(Voris, 2016). The American Realtys financial reports were correct as per the GAAP but the main figure of FFO or Funds from Operations is manipulated internally to inflate the financial results so that the overall reporting looks like very attractive for all stakeholders. In the real estate market all investors are taking look only at Funds from Operations and if this is good then the company is in good financial status. The National Association of Real Estate Investment Trusts, the leader in the real estate industry has stated that FFO is the only figure all stakeholders in real estate business try to understand. This is the figure which is used in the real estate industry to measure and compare all companies and how they are financially healthy. Hence when this figure is misrepresented it amounts to intentional fraud and deliberate non disclosure or real facts and suppression of actual facts. Any investor can get mislead if any company following non-GAAP methods present any wrong figures in the accounts resulting in overall inflated results. The American Realty case was first found in October, 2014 and its chief executive said that they had no bad people but some bad judgement have made the differences. In December, 2014 Lisa have filed a lawsuit against the former chief executive and founder of American Realty, Nicholas Schorsch saying that she was sacked by the company as she have highlighted in public that the company had fraudulent practices. But instead later last week the S.E.C. has filed a case against Block and Lisa for violation of securities and she will be in no way being eligible for any award. The Wall Street is very touchy place where minor changes in the share prices can be havoc for the entire market and hence the financial executives always have to be very cautious about any figures they present and these should be correct. The American Realty loss due to wrong FFO was only 3 cents per share in the first quarter of the 2014 but still the financial executive will be under fire from the chief executive and the investors. The car company Fiat Chrysler is facing the wrath of the SEC and the Justice department for showing wrong car sales on monthly basis as inflated figures. The company planned to show the sales results for 75 months in a row after the financial crisis of 2008-09. The actual fact was disclosed by the company after 40 months and it was very shocking for the investors. The New York Times have taken up this reporting of the investigation in July y the Justice Departments visits at the companys Michigan Headquarters and also at its various dealers to learn from them how these sales figures were being shown inflated. The sales reposting method was changed after it was got highlighted that they are inflating the sales figures to show how they are performing in the period just after the financial crisis the world over. This change was reported by the spokeswoman of the company who said that it is an opportunity to become more transparent. The non-GAAP methods are followed by many companies are done with a motive to show the glossy financial pictures only but they also dont understand that their misdoings are getting exposed by the media reporting and by this they are getting under judicial cases and coming under investors wrath. The SECs chairwomen highlighted that Chrysler will not be convicted for showing inflated sales figures as this not amounting to any enforcement action as it is not that gross misdoing. But she also said that the non-GAAP following companies must take extreme care in financial reporting and try to change the method to GAAP format as soon as possible so that such errors can be stopped or reduced to greater extent. In her Fair Game column in The New York Times Gretchen Morgenson wrote in April, Creativity abounds in todays freewheeling accounting world. The companys are presenting too many financial reports to show their status, but too many of them are painted as a too rosier than what they are actually, which suggests that too much is not better too correct is much better even it is less. Concepts, Ideas and Factsthe basic details from the above news coverage that we have found is that there is two violationsone the GAAP was not followed and also the accounting ethics was not complied at all. GAAP or Generally Accepted Accounting Principlesthese are the basic and mostly accepted standards of accounting followed throughout the world. Its usage is accepted as its framework and guidelines are falling in any given jurisdiction. These include the conventions, standards and rules for all accounting functions world over which are followed by accountants. But there are many exceptions to the business opting out of GAAP practices for cash basis which is opposed to accrual basis. The details of the some examples of GAAP InternationalInternational Financial Reporting StandardsIFRS For Domestic USAGAAP UKGAAP RussiaGAAP IndiaGAAP GermanyGAAP FranceGAAP CanadaGAAP Many companies of the world are opting to convert to IFRS as the standard is of International type. Many companies also follow their country specific accounting principles. All listed or large companies are conforming to IFRS. All listed companies from European Union are part of IFRS since 2005 and Canada started IDRS in 2009, Taiwan in 2013. In the above report it is evident that GAAP not being used the company got an added advantage to make the statement false thus making the financial report inflated and showing good for investors. Accounting ethics the professional accounting is supposed to follow the various ethics for the purpose of correct and true accounting. The main attributes of the accountants for the same is like Integritya professional accountant must have high integrity, honesty, dedication level. Professional attitudea professional accountant must not do anything to bring bad name and must be aware of all legal framework. Confidentialitya professional accountant must keep all information gathered due to the association with various places of work and should share such information with any other third party or for any personal gains. Objectivitya professional accountant must always avoid doing any biased attitude, conflict of interests, or to avoid making any undue advantage on others by coercion. Professional attitude and all care theretoa professional accountant must take care of the legislation, techniques, technical and professional standards. In the above report it is evident that the accounting ethics were not followed and this resulted in inflated and false financial reports and change of actual figures making company looking healthier. 2: AASB-1-July, 2015-First-time Adoption of Australian Accounting Standards. Comparison with IFRS 1AASB 1 is the First Time Adoption of Australian Accounting Standards are adopted from IFRS 1 and some parts are entered with Australian context. Tier 1 AASB 1 also complies with IFRS 1 in the cases of profit based entities. AASB 1 also complies with IFRS 1 but certain entries are made for Australia specific for all non-profit entities giving detailed guidelines. Tier 2 AASB 1 also complies with entities where general type of financial reports is being prepared and only Reduced Disclosure Requirements will not be under compliance with IFRS 1. AASB 1 is adopted by The Australian Accounting Standards Board making it the valid standard under section 334 of the Corporations Act, 2001 (Aasb, 2016). Major issues in new standard Objectivethe financial reports and statements prepared under this standard must be having very high quality information that Can be produced at a cost which is below the benefits provided. Can be compared over period of time and become transparent. Can have a suitable starting time. Scopethe new standard will be applied by entities for making first Australian Accounting Standards financial reports. And for any type of interim financial reports and statements. Recognition and measurementall entities must use this new standard for the purpose of preparing of all financial statements based on First time accounting standards of Australia and all of these statements should be comparable (Ey, 2014). There are also exemptions to this point where the entity can be exempted as per exemptions mentioned in the Appendices C-E. Presentation and Disclosurethis new standard does not provide any relief from exemptions to the presentation and entire disclosure of all types of financial informations and statements. The new standard provides that an entity should be bound to present minimum three financial report or statements, two statements of comprehensive profit or income and profit loss account, two separate statements of profit and loss, two statements of cash flow statements, two statements of any change effected in equity holding and notes thereto, and also all comparative statements based on this standard. Effective Datefrom 1st January, 2018 latest but could have been applied from 24th July, 2014. Commencement of The Legislative Instrumentto comply with legal forums this new standard will get effect from 31st December, 2017. Withdrawal of AASB Pronouncementsthis new standard was present earlier also in different form in May, 2009 when it was repealed. But although it was repealed, it was in active usage in relation to individual or to general use. It was applied under section 334 of the Corporations Act (Charteredaccountants, 2016). Consensus or Disagreement: The entities who are the main stakeholders in the accounting standard formulation have to disclose their opinion before the finalisation of the standard and later on implementation. Unless and until particular opinion and interpretations are interconnected and then the standard would become irrelevant. The revelation of the accounting standard and the formation of opinion are completely based on the stakeholders. There are key standards which are to be issued in relation to the accounting and the maintenance of accounting. The accounting standard is generally formulated and later on the standards are made applicable. IFRS 15 Revenue from contracts was issued in way back 2014 but it is to be implemented in 2018, likewise the same standard based on IFRS 15, AASB issued AASB 15 and equivalent standard to which is yet to come to effect (Charteredaccountants, 2016). The accounting standards are issued after considering the opinion from the accounting professional and business class and of general public. It is important build consensus on those accounting standards but is often seen that there are some dissenting voices. The new standard may hamper some industries and that would have significant implication in business reporting. Therefore the dissenting voices are expected to come out in the forum. If the example of AASB 15 is to be brought here, the target of the standard is to formulate following: The single revenue recognition model is of transfer of goods and of the services as this model will improve the comparability over a range of industries. The removal of certain inconsistencies and weaknesses in the existing system of revenue recognition. The preparation of the financial system is to be simplified based on the standard. There are industries which have already adopted the revenue recognition process based on previous standards, but application of the new standard may go against the interest of the business. Therefore the dissenting voices are expected to come up. Analyse: There are various sides of an interpretation. The stakeholders will have to protect their interest. The significant variation would simply paralyze some of the business and entities. The accounting has to involve the new ideas in the business to the best available manner. The need of the accounting standard is to guide the recording of the financial information. The utmost necessity is implementation part where the role of the public and other entities become important based on the set of rules and guidelines for recording of such information. The intricacies of accounting practices allow companies and other organisations to record financial transactions for that benefit (Ifrs, 2016). References: Aasb. (2016, 09 21). News. Retrieved 09 23, 2016, from www.aasb.gov.au: https://www.aasb.gov.au/News.aspx Accountingexplanation. (2016). Cost of Goods Sold Statement:. Retrieved 09 06, 2016, from www.accountingexplanation.com: https://www.accountingexplanation.com/cost_of_goods_sold.htm Bolt. Lee, E. C. (2010). Highlights of Finance and Accounting Ethics Research. Retrieved 09 21, 2016, from www.journalofaccountancy.com: https://www.journalofaccountancy.com/issues/2010/oct/20102896.html Charteredaccountants. (2016, 09 21). AASB issues 2015 amending standards. Retrieved 09 21, 2016, from www.charteredaccountants.com.au: https://www.charteredaccountants.com./Industry-Topics/Reporting/Current-issues/Convergence/News-and-updates/AASB-issues-2015-amending-standards Charteredaccountants. (2016, 09 21). Revenue Recognition. Retrieved 09 21, 2016, from www.charteredaccountants.com: https://www.charteredaccountants.com./Industry-Topics/Reporting/Current-issues/Convergence/News-and-updates/Revenue-recognition Expertscolumn. (2016). Accounting- Need And Importance. Retrieved 09 21, 2016, from fareedsiddiqui.expertscolumn.com: https://fareedsiddiqui.expertscolumn.com/article/accounting-need-and-importance Ey. (2014, 03 31). New accounting standards and interpretations . Retrieved 09 21, 2016, from www.ey.com: https://www.ey.com/Publication/vwLUAssets/EY_-_Endeavour_supplement_31_March_2014/$FILE/ey-endeavour-new-accounting-standards-31mar2014.pdf Iata. (2014). Airline Disclosure Guide. Retrieved 09 15, 2016, from www.iata.org: https://www.iata.org/publications/Documents/Airline-Disclosure-Guide-hedge-accounting.pdf Ifrs. (2016, 09 21). IFRS Application Publication Around the World urisdictional Profile. Retrieved 09 21, 2016, from www.ifrs.org: https://www.ifrs.org/Use-around-the-world/Documents/Jurisdiction-profiles/Australia-IFRS-Profile.pdf Voris, V. (2016, September 09). Ex-American Realty CFO Block Charged With Accounting Fraud. Retrieved September 24, 2016, from bloomberg: https://www.bloomberg.com/news/articles/2016-09-08/two-american-realty-capital-executives-sued-over-earnings-report