How Were Markets and Fairs an Important Part of Medieval Life

Lesly Kurian 8 June 2007 â€Å"First of all, there are the shills who offer food to people in general, the brew merchants, the publicans, and afterward the weavers. Not far-removed are the drapers, and afterward the material sellers’ pitch. At that point the open space where they sell uncured skins and wool†¦Here comes the individuals driving the creatures dairy animals, bulls, ewes and pigs, and men selling ponies, as well as can be expected purchase, female horses, foals, and palfreys, appropriate for checks and rulers. † Many individuals came to purchase things from business sectors and fairs, including the thirteenth century writer who portrayed a regular market (Pierre and Sabbagh 54).Markets were essential to day by day life in light of the fact that the greater part of the things individuals purchased there, they couldn’t develop or make themselves. Individuals likewise got by selling products there. Going to business sectors likewise allowed individu als to see products created in different towns (MacDonald 8). Markets were held once every week and for the most part went on for a day or two (9). Since numerous towns were worked close to streams, dealers could without much of a stretch come to them and set up slows down and tents (Grant). In the focal point of town, there was an enormous space for slows down to be set up. In rich towns, markets were held in great corridors or secured by a canvas rooftop from the weather.In the market, authorities checked and estimated things and distinguished phony cash (Mac Donald 9). Vendors sold a fantastic assortment of things for day by day life; food, utensils, instruments, dress, craftsmanship, and brushes (â€Å"Markets and Fairs†, MacDonald 8). Rich dealers set up slows down to sell these things. Notwithstanding, laborers who came to sell their products couldn’t manage the cost of slows down, so they had to show on the ground. Surprisingly more dreadful, they needed to make good on an assessment on the off chance that they showed on the ground (â€Å"Markets and Fairs†)! Odd notions were solid in business sectors too!In a common market, a cross or blessed sculpture was put in the inside to shield clients from any threat (MacDonald 9)! In the end, shippers began visiting and exchanging different zones. By the twelfth century, many became merchants and utilized ships on exchange courses (Langley 46). Most dealers utilized boats since they could convey huge loads over a significant distance versus trucks on streets (Grant, MacDonald 11). Things typically moved on ships were fleece, metals, wood, oil, wine, and salt (â€Å"Markets and Fairs†). As exchange expanded, significant mansions and urban areas got well off. New towns were made during the High Middle Ages in view of this enormous wealth.Some even got free of a master or king’s rule by making good on him a duty (Langley 48). As new towns were made, the populace developed and a f ew towns developed into significant urban areas, similar to Paris, Venice, London, and Florence. The expansion of exchange likewise gave occupations to numerous and helped spread thoughts around the globe. Urban communities frequently became contacts and partners along these lines (MacDonald 10). One gathering of contacts was known as the Hanseatic League. It connected more than 100 towns with one another. This gathering commanded Northern European exchange from the thirteenth to the fifteenth hundreds of years (Pierre and Sabbagh 54, Grant).Trading among towns drove approach to fairs. Fairs were extremely unique events since individuals got the opportunity to take a gander at and purchase remote and costly things not sold at business sectors (MacDonald 9). They allowed individuals to take a break from every day life and have a ball. They were held once per year on a saint’s feast day (Langley 54). Fairs were normally situated on the edges of town in light of the fact that th ere was sufficient field for merchants to set up their tents and eat their creatures (MacDonald 9). Brokers from a wide range of grounds sold claim to fame things at fairs.Valuable hides, for example, lynx and panther, were well known. Individuals likewise checked out extraordinary nourishments like pig meat and onions. Apparatuses and weapons were additionally accessible (Pierre and Sabbagh 54). Diversion and rewards was additionally a huge piece of fairs. Performers, stunts men, stunt-devils and artists performed there. Betting was additionally part of fairs. Men wager on who might win a battle; grapplers and canines against bears and cockfights were well known (â€Å"Markets and Fairs†). Rewards, particularly during sweltering climate, were agreeable. Bread cooks and brewers served pies, or chewets, and lager (Langley 54).There was exceptional reasonable called the Fairs of Champagne, in France. It went on all through the entire year without stop. Shippers, merchants, and clients the same all ran there to sell and purchase products. Sadly, it finished during war in the fifteenth century (Pierre and Sabbagh 54). As should be obvious, markets and fairs during Medieval Times were a significant piece of day by day life. They gave required things to life and incidental extravagances, as well. Be that as it may, not every person acknowledged markets and fairs. Ministers frequently grumbled that fairs were hung on blessed days so individuals would shop rather than pray!They additionally accepted that business sectors and fairs were places that individuals trespassed the most; reviling, bragging, lying and contending all occurred there (MacDonald 9). Envision that! Reference index Grant, Neil. Regular day to day existence in Medieval Europe. North Mankato, MN: Smart Apple Media, 2001. Langley, Andrew. Medieval Life. New York: Alfred A. Knopf, 1996. MacDonald, Fiona. Town Life. North Mankato, MN: Smart Apple Media: 2005. Pierre, Michel and Morgan-Antoine Sabb agh. Europe in the Middle Ages. Englewood Cliffs, NJ: Silver Burdett Press, 1998. N/A. â€Å"Markets and Fairs† N/A. On the web. http://www. xtec. es/crle/02/middle_ages/alumne/list. htm. 20 May 2007.

Freedom In The United States Essays - Freedom Of Expression

Opportunity In The United States Essays - Freedom Of Expression Opportunity in the United States No other just society on the planet grants individual opportunities to the level of the United States of America. Inside the most recent sixty years, American courts, particularly the Supreme Court, have built up a lot of legitimate precepts that completely secure all structures of the opportunity of articulation. With regards to assessing the degree to which we make the most of the chance to communicate our conclusions, a few citizenry might be liable of disregarding the limits of the First Amendment by freely irritating others through indecency or bigotry. Americans have built up an unmistakable attitude toward the opportunity of articulation from the beginning of time. The First Amendment obviously voices an extraordinary American regard around the opportunity of religion. It likewise keeps the legislature from condensing the ability to speak freely, or of the press; or the privilege of the individuals quietly to gather and to appeal to the Government for a review of complaints. Since the early history of our nation, the assurance of essential opportunities has been absolutely critical to Americans. In Langston Hughes' sonnet, Opportunity, he underscores the battle to appreciate the opportunities that he knows are legitimately his. He mirrors the American want for opportunity now when he says, I don't need my opportunity when I'm dead. I can't live on tomorrow's bread. He perceives the requirement for opportunity completely without bargain or then again dread. I think Langston Hughes catches the embodiment of the American migrants' mission for opportunity in his sonnet, Opportunity's Plow. He precisely depicts American's as showing up with only dreams also, building America with the expectations of finding more prominent opportunity or opportunity just because. He portrays how individuals all things considered cooperated for one reason: opportunity. I chose Ray Bradbury's Fahrenheit 451 as an imaginary case of the shades of malice of control in a world that is turning out to be ignorant. In this book, the administration persuades the open that book perusing is detestable on the grounds that it spreads hurtful feelings and disturbs individuals against the administration. Most by far of individuals acknowledge this control of articulation truly and are substance to see furthermore, hear just the administration's purposeful publicity. I discovered this upsetting however reasonable. Bradbury's shrouded resistance to this type of restriction was obvious all through the book lastly won in the end when his principle character opposed the act of consuming books. Among the numerous types of fights are pickets, strikes, open discourses and rallies. As of late in New Jersey, in excess of a thousand network activists revitalized to draft a human spending that puts the requirements of poor people and impaired as a top need. Rallies are an successful methods for individuals to utilize their opportunities adequately to bring about change from the administration. The right to speak freely of discourse is coneztly being tested with no guarantees confirm in an ongoing legal dispute where a Gloucester County school locale controlled surveys of two R-evaluated motion pictures from a school paper. Unrivaled Court Judge, Robert E. Francis decided that the understudy's privileges were damaged under the state Constitution. I feel this is an amazing forward leap for understudies' privileges since it limits publication control of school papers by instructors and permits understudies to print what they feel is significant. A recently proposed charge (A-557) would forestall school authorities from controlling the substance of understudy distributions. Pundits of the charge feel that understudy writers might be excessively youthful to underezd the duties that accompany free discourse. This is an admirable sentiment; in any case, it would give an amazing chance to them to learn about their First Amendment rights that ensures free discourse and opportunity of the press. In his beginning location to Monmouth College graduates, Teacher Alan Dershowitz of Harvard Law School protected the wide option to free discourse. He expressed, My message to you graduates is to state your privileges, to utilize them mindfully and strikingly, to restrict prejudice, to restrict sexism, to contradict homophobia and extremism of all sorts and to do as such inside the soul of the First Amendment, not by making a special case to it. I concur that one should don't hesitate to talk transparently as long as it doesn't legitimately or by implication lead to the mischief of others. One

New Student Photo Series 2010 Entry #14 COLUMBIA UNIVERSITY - SIPA Admissions Blog

New Student Photo Series 2010 Entry #14 COLUMBIA UNIVERSITY - SIPA Admissions Blog New students interested in submitting photos for the blog please click here for details. __________________________ The photos today come from Marissa Polnerow, an incoming MIA student. __________________________ Macedonia, 2009 This series of photos captures a day in the life of a Peace Corps volunteer in the Republic of Macedonia.   The shots were taking during a hike from my apartment in Prilep to the 13th-century mountaintop monastery of Treskavec.   The monastery is a timeless and remote gem, adorned with Byzantine frescoes, open to guests to stay however long they desire.   The early morning scene of a goat is followed by a foggy view of Macedonia’s lush hilltops.   The sign reads “cheshma,” and leads to an old fountain.   In the final shot, my friend Darko and I rest beside the monastery, where we stay the weekend with friends and Treskavec’s welcoming Orthodox Monk, Kalist.

Caffeine and Reaction Time - 1286 Words

Daniel Kim 12-3-12 HBS, period 1 Reaction time experiment Caffeine and Reaction Time 1) Identify the Problem or Question How does the consumption of caffeine affect the reaction time of the nervous system? 2) Introduction Purpose of the experiment: To identify the whether or not caffeine increases or decreases the reaction time of the nervous system. In our experiment, we have decided to use all the â€Å"cases† which will test how fast a signal from our brain will be sent to our muscles in order to click the mouse when we see an object or directions on the screen. We know that the commonly used drug, caffeine, increases the heart rate, thus the increase in blood flow. The question in our experiment is, does the†¦show more content†¦When he consumed the 12 oz of coffee, his average reaction time decreased to 344+-60 milliseconds. It is quite apparent from the graphs that the average reaction time for every â€Å"case† for each test subject decreased when absorbing caffeine into their system. Test subjects also consumed the â€Å"right† amount of caffine, 160mg, which allowed the subject to shorten their reaction time, while the wrong dosage could impair it. We can also draw from the graphs the relation that the younger the test subjects are, the quicker their reaction time will be. Also, we can also conclude from the results that males tend to have a quicker reaction time than females (Daniel’s reaction times were faster than Jazmine’s, and Keon’s were faster than Mi’s). 8) State the conclusion The hypothesis was correct. The effects of caffeine shortened the reaction time in all of our test subjects. 9) Summary Paragraph The reason why we were able to correctly devise a hypothesis for the experiment was because of the prior knowledge we had of the drug, caffeine. Caffeine increases the heart rate, which allows for faster muscle contractions. Caffeine does not really affect the actual reaction of the nervous system, but rather the actual contractions of the muscles themselves. This known fact of caffeine is reflected in the experiment. It shortened the reaction time of our test subjects in everyShow MoreRelatedCaffeine versus No Caffeine781 Words   |  3 PagesCaffeine vs. No Caffeine Humans have used caffeine for the past hundred years to be active and get work done faster, but is caffeine really helping us do that? Caffeine has been demonstrated to improve reaction time, cognitive performances, and physical activities. Effect of caffeine has been studied in various research studies. Caffeine is used in many different activities to stay active or awake during the task. 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The Power Of Context, By Malcolm Gladwell, Steven Johnson,...

People are the products of their environment. The lifestyle children adapt to at a young age is what molds them as they grow up and mature. This is why children who typically are raised in a lavish lifestyle grow up to be proper, while those who live in poverty follow the path to failure. In the essays â€Å"The Power of Context,† â€Å"The Myth of the Ant Queen,† and â€Å"Biographies of Hegemony,† written respectfully by Malcolm Gladwell, Steven Johnson, and Karen Ho, the theme of minute changes in one’s environment, continuing to affect one heavily in the long term is brought up numerous times. Gladwell asserts the concept by talking about the incident with Bernherd Goetz and the stigma attached to the shooting. Johnson reflects upon this point numerous times by using anecdotes involving the ants and other complex discussions of Turing’s shortcomings in the era he lived in. Karen Ho talks about the business side of Gladwell’s point by corr elating it with the practices used by superpower Wall Street firms and their recruitment process. In this essay, I argue that cultural and communal changes are affected by both small and large-scale contexts; and that the power of context has a strong correlation to Wall Street and the different types of societies discussed by Johnson and Gladwell. The immediate connection to be made with the harsh effects of an unmaintained society is seen in the effects discussed by Gladwell. The broken windows theory, that Gladwell refers to, states that somethingShow MoreRelatedStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesPerception and Individual Decision Making 165 Motivation Concepts 201 Motivation: From Concepts to Applications 239 3 The Group 9 10 11 12 13 14 15 Foundations of Group Behavior 271 Understanding Work Teams 307 Communication 335 Leadership 367 Power and Politics 411 Conflict and Negotiation 445 Foundations of Organization Structure 479 v vi BRIEF CONTENTS 4 The Organization System 16 Organizational Culture 511 17 Human Resource Policies and Practices 543 18 Organizational ChangeRead MoreDeveloping Management Skills404131 Words   |  1617 PagesSenior Operations Supervisor: Arnold Vila Operations Specialist: Ilene Kahn Senior Art Director: Janet Slowik Interior Design: Suzanne Duda and Michael Fruhbeis Permissions Project Manager: Shannon Barbe Manager, Cover Visual Research Permissions: Karen Sanatar Manager Central Design: Jayne Conte Cover Art: Getty Images, Inc. Cover Design: Suzanne Duda Lead Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: Integra Software Services

Macbeth †Notes on Elements of the Gothic in the play Free Essays

* An Elizabethan audience would have been genuinely terrified by the events on stage as they believed that witches did exist, murder by witchcraft was made punishable in 1563 thus demonstrating that people during this era believed witches were real and had magical powers. * The theme of equivocation is used by Shakespeare to highlight the witch’s evil nature; they use words with double meanings to confuse and disorientate Macbeth’s thoughts and cause a conflict in his mind (between good and evil). * â€Å"the weird sisters† – whilst also meaning strange the word weird is derived from the old English ‘wyrd’ which means fate or destiny, fate is often characterised as 3 old women. We will write a custom essay sample on Macbeth – Notes on Elements of the Gothic in the play or any similar topic only for you Order Now * Transformation * Macbeth is promoted to Thane of Cawdor by King Duncan, the audience have yet to meet Macbeth when Duncan makes this decision thus an impression of Macbeth as an honourable man is formed. The significance of this promotion is that Macbeth goes through a transformation from a brave soldier to a higher ranking, and more noble, position. * Macbeth’s dramatic change in character is amplified in act 3 scene one as he attempts to annihilate Banquo, his close friend who he held in high respect at the start of the play. As the play progresses there is a steady breakdown of Macbeth’s identity, causing him to be â€Å"not himself† by the end. A blurring of fantasy and reality * The line between fantasy and reality becomes blurred; the pinnacle point of this is in act two scene two after Macbeth enters from the murder. His piece of mind has been shattered as he feels that he has â€Å"murdered sleep†, there is no escape from his evil deeds as he has now become trapped in a living nightmare. To Macbeth (who comes over almost trance-like) he is just as vulnerable awake as asleep and to sleep would be too difficult because his mind has become corrupt with evil thoughts. (Macbeth becomes slightly hysterical during this scene as he struggles to make sense of what is happening to him, this is also an aspect of disorder) * â€Å"Is this a dagger which I see before me† – Macbeth appears tormented by his violent actions, which induce his tragic fall, it is after the murder of the king that he slowly evolves into a mad man who feels out of control with his mental state, it is corrupted thoughts that lead him to become power obsessed and thus a murderous, villainous man, his many delusions add to mounting suspense. (This also has links to transformation – transformation of the mind) Significant use of setting * Act one scene one opens with â€Å"Thunder and lightning† suggesting that the witches, who have gathered to talk about Macbeth, are somewhere outside. * The play is introduced as dark and dangerous, evil is introduced through the stormy weather that symbolises the disorder to come. * In act two scene four Ross and an old man talk about the stormy night, symbolising disruption in the kingdom, there is definite mystery as the location of the conversation is unclear, conversation takes place somewhere â€Å"outside the castle†. * â€Å"A camp near the battlefield† is the setting in act one scene two; a battlefield is a place where many people die, later in the play Macbeth becomes a murderer killing several people for un-just reasons. The king discusses the bravery shown by Macbeth and decides to reward him with the title Thane of Cawdor, he is being rewarded for killing here which could be a slight element of foreshadowing of his ability to kill for his own ends (merciless man). How to cite Macbeth – Notes on Elements of the Gothic in the play, Papers

Organizations Transport Sector In Australia-Myassignmenthelp.Com

Question: Discuss About The Organizations From Transport Sector In Australia? Answer: Introduction: The accounting regulating body is prescribed by the accounting standard for ensuring the involvement of standardized regulating body. Accounting standards enable better understanding of the accounting treatment. It is essential for organizations to make their accounting disclosures by aligning with accounting standards. Prudence is embedded in accounting standard itself and in the application of standard, prudence is exercised by prepares of financial statements. It has been widely agreed upon that there exists advantage of exercising prudence in the application of standards. The present study comprehends the overall operational procedures of two ASX listed companies that is K S Corporation and Transurban Group. K S Corporation is a company that is engaged in logistics, transport and contract management and Transurban Group deals with the development and management of roads networks in Australia and North America. It is the accounting regulating body that prescribes the accounting standard for ensuring that organizations adopts the standardized accounting practices and for the key changes, there is development. It is essential for organizations to consider overall manner of disclosure and principles for understanding the accounting treatments that is done based on accounting standards (Ahmedet al. 2013). It is required by financial report of companies to involve the attribute of prudence. However, sometimes accountant for the preparer of financial statements manipulate it because of their own personal gains. Analyzing the conceptual framework of K S Corporation and Transurban Group: Conceptual framework of preparing the financial statement has went some changes and has been revised in year 2016. When making judgment under uncertainty conditions, prudence is considered as the best attribute and for achieving neutrality in the financial statements, it is considered the best. It requires that the liabilities and assets of organizations should not be overstated and understated. There are several items that the conceptual framework requires to be recognized. The financial report of K S Corporation has not been impacted by the amendments that have been made to the revised conceptual framework and their application has left the reports indifferent. The above figure shows the basis of preparation of financial report of organization. Report complies with the Australian Accounting standards and Corporation Act, 2001. Historical cost forms the basis of preparation of financial statement. Furthermore, financial report also complies with the International financial reporting standard issued by International accounting standard board and Australian accounting standard. The annual report of K S for period ending 30th June, 2016 have not been adopted the recently amended and issued Interpretational and Australian accounting standard. Consolidated financial statements of the group comprise of subsidiaries of K S Corporation limited and the group itself. New principal standard AASB 9 has replaced AASB 139 and the replacement and amendment does not seem to have any impact on financial statement of organization. The preparation of financial statements is the responsibility of directors of company that helps in giving true a fairer view of financial statements that is prepared in accordance with the Corporation Act 2001 and Australian Accounting standard. Preparation and presentation of financial statements comply with the international Financial Reporting standard (Penman and Zhu 2014). The above figure depicts the director report of K S Corporation for year 2015. The report mainly states and presents the authenticity and financial report viability for financial year 2015. It is states by the directors of organization that report has been prepared in accordance with the guidelines that is set out in the ASIC RG247. The financial report has been so designed to provide shareholders with consider and clear overview of the financial position, business operations. The principal activities during the financial year course included contract management. Logistics, transport and fuel distribution (Bauer et al. 2014). Organization has been subjected to few fraudulent misappropriations that has been disclosed to ASX. There are many components in the director report that has been effectively complying with the regulations and laws laid out by Australian government. While disclosing the components of report, organization is required to have some ethical considerations as per th e rule of AASB. Strategic report provided in the annual. The directors also authenticate report of company. Authenticity is indicative of the fact that directors of organization is giving endurances and accepting the results depicted by the future projects (Huntonet al. 2014). It has been ascertained that many activities leading to unethical transactions by directors have reduced in recent year due to new insider trading implementation. The above figure depicts the remuneration report of K S Corporation that is prepared according to the regulations and requirements of Corporation Act, 2001. Remuneration payable to non-executive directors is payable as per the listing rules of ASX and its constitution. External control is sought by organization such as Remuneration and nomination committee in determination of remuneration payable to directors (Dovbiy 2014). The above figure depicts the independent auditors report of K S Corporation limited that demonstrates the reporting on financial report presented in the annual report. Reports provides with the discussion of responsibility of directors in preparing the financial statements. preparation of financial statement ate enabled by directors of company that they are free from material misstatement and are prepared in accordance with the Corporation act 2001 and Australian accounting standard. In the opinion of auditors, it is identified that the financial report of organization is prepared according to the corporation act, 2001 that provides the true and fair view of financial position of consolidated entity along with their financial performance for particular financial year (El-Firjaniet al. 2016). It was ascertained by auditors that financial report complies with the International financial reporting standards and Australian accounting standard. Remuneration report of K s Corporation als o complies with the section 300A of the corporation act, 2001. Analysis of conceptual framework of Transurban Group: The interpretation of AASB and amended accounting standards are adopted by the organization in effect from July, 2014.The Transurban group has adopted the revised accounting standards that have been effective since the preparation of annual report 2014. It is confirmed that when the occurrence of payment is triggered by any activities, then the liability is recognized for paying a levy.Financial statements of Group is prepared according to Australian accounting standard, corporation Act, 2001 and in accordance with any other Australian accounting standard brad authoritative pronouncement. Organization has adopted all the relevant accounting policies that has been disclosed in the financial statements (Dyckman and Zeff 2014). Furthermore, Transurban Group for presenting the consolidated financial statements under one section has also applied under ASIC Corporation. International financial reporting standard also forms the basis for preparing the financial statements. revised accountin g standard has not amended or changed the accounting policies (Henderson et al. 2015). Some of the accounting standards and interpretations that are issued but not yet effective is depicted in following figure. The directors report discloses the proportional and statutory results of Transurban Group. Report discloses the business principal activities, financial and overview. Strategy and value propositions of business is also mentioned in the directors report. However, it does not disclose the basis of preparation of finance report and the compliance of organization with the accounting standards. The above figure demonstrate the remuneration report of Transurban group along with its structure and framework. The framework of remuneration report revived strong support in the annual general meeting and it is considered that they offer a range of mechanisms that motivates executives in delivering outstanding results and helps in balancing sensible management of risks. A combination of incentive is provided in the framework of remuneration report. There are three components involved in the framework of remuneration of each senior executives. Area of accountability of the remunerations involves the individual key performance indicators (Bromwich and Scapens2016). The remuneration report helps mainly in the identification of remuneration payable o non-executives directors of company and it can be seen that the remuneration payable in year 2016 is more than remuneration paid in year 2015. The remuneration payment does not involve the issuing of shares to non-executives directors of company as per the declarations according to the Australia Corporation Act 2001. The act also mentions the method that are applied by the organization in preparing the financial report. Free floats of shares of company are reduced with the help of remuneration report in the event of any bad news. The above table depicts the remuneration payable to senior executives of Transurban Group. Groupn makes the annual review of remuneration framework by taking into consideration various factors such as expectation of market, feedback of shareholders, regulatory development and considerations of security holders. In year 2016, remuneration recommendations were not provided to human resource and remuneration committee by consultants. The board approved revised remuneration package to senior executives in year 2016. There was an increase in remuneration of 3.69% in the previous year. The performance of group is linked to variable remuneration payable to executives. Prudence and its impact on addressing disparity in corporate reporting: Prudence is regarded as the desirable attribute for preparing the financial report of organizations. Unethical evaluation of the liabilities and assets of organization are reduced by the means of prudence. In order to achieve neutrality, prudence is considered to be relevant. The proposed changes in the conceptual framework requires the companies to reintroduce this particular explicit notion of reference. Exercising prudence by organizations would help in supporting neutrality. Organizations exercising prudence will not be able to understate their income and assets and overstate their liabilities and expenses. The reason is attributable to the fact that in future periods such misstatements would lead to understatement of expenses and overstatement of income. Organizations are required to measure the issues relating to the prudence so that they are able to address some of the existing disparities in the preparing of financial reports. There are many uncertainties that inevitably surrounds the circumstances and events taking place in organization and it is essential for the financial statements prepares to content with them. Some of the circumstances are probable life of assets, probable number of warranty claims that may arise collectability of doubtful receivables. Disclosing the extent and nature of such circumstances and exercising prudence in preparing financial statements would help in recognizing such types of uncertainties. Prudence is regarded as the degree of inclusion of caution when making judgment about some uncertainty conditions and estimating the figures. Prepares of finance statements would not able able to create excessive provisions or make excessive reserves or deliberately overstate assets and income an understate liabilities and expenses as they would not have reliability quality as the financial statements would be neutral (Yingying2014). However, there are critics related to the inclusion of prudence in preparing finance statements, as it would lead to inconsistent application. It has also been interpreted that users of financial statement will face difficulty in assessing their financial performance as exercising prudence would lead to greater subjectivity. The proposed draft has come up with the reinstating prudence in the conceptual framework (Plumlee and Reckers 2014). Concerning the above-discussed facts, it is required by organization such as K S Corporation and Transurban Group to reinstate prudence and include it in their financial statements. Prudence helps in addressing the concern of downside risks of investors. They need to explain the inclusion of prudence in their conceptual framework. It helps in aligning the managers and shareholders interests and reducing moral hazard. It is considered by IASB that organizations is able to achieve neutrality in application of accounting policies by including prudence. Cautious prudence is another aspect that has helped in exacerbating the diversity of usage in this term. Many have argued that neutrality cannot be bring by inclusion of prudence and hence asymmetric is regarded as essential characteristics of relevant financial information (Lukin 2014). However, this concept of prudence in the conceptual framework is criticized by IASB. Comparing and contrasting two annual reports: The basis of preparation of financial report of K S Corporation is in accordance with the Australian accounting standard and Corporations Act, 2001. Except for building and lands, the components of finance statements have been measured at fair value and prepared on historical cost basis. On the other hand, the financial report of Transurban group have been prepared according to Australian accounting standard and their authoritative pronouncements. However, in the summary of the disclosure of accosting policies of Transurban Group, there are more disclosures. There are disclosures about adoption of all the relevant accounting policies and their disclosures in the financial statements. Both the organization complies with the International Financial reporting standard issues by board of International accounting standard. The notes to financial statements of both the organizations discloses about the accounting policies. From the evaluation and analysis of directors report of both the organization, the financial outcome can be easily ascertained. It can be seen that net profit after tax and operating revenue of K S Corporation has increased in the current year as compared to previous year. Transurban witnessed an increase in the review and profit after tax in current year as compared to previous year. However, the director report of Transurban make additional disclosures of statutory and proportional results of organization (Chandler 2014). Therefore, there is difference between the conceptual frameworks of both the organizations in some aspects. Recommendation: The accounting standard has introduced some then changes and concepts that should be included by the prepares of financial statement in their annual report. It is required by the entities to retain the existing definition of residual framework and equity in their conceptual framework. Concerning to equity, organizations should update measures of each class of equity claims and updating of any measures should be recognized. In the conceptual framework, prudence should be included while preparing the financial statements. This is so because for overcoming bad accounting practice, it is essential to practice prudence. According to the reintroduction, prudence should be included in the conceptual framework of organizations as it helps in carefully reflecting uncertainty faced. Neutrality of financial statements is affected in reasonable manner as there is asymmetric treatment concerning valuation of revenues and assets. Conclusion: The above report discusses about the conceptual framework of two-selected organization of transport sector that is K S Corporation and Transurban Corporation. It has been analyzed that whether the accounting standards of organizations complies with the requirements of AASB. 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