The Advantages and Disadvantages of Natural Environment...

A decision that must be made is whether to use discrete trial training drills or incidental teaching to establish functional skills. Discrete trial training is conducted in a highly specified and structured manner, in which the instructor chooses and presents an antecedent stimulus related to the skill of interest, and when the student responds correctly, the response is reinforced. Naturalistic or incidental teaching is loosely structured, and is incorporated into a student’s ongoing routine and follows his or her interests. Variation in antecedent stimuli and respnses is emphasized and reinforcers for correct responses are tied to the student’s ongoing activites. Sundberg and Partington (1999) coined the term ‘natural environment†¦show more content†¦Thus, you miss the most sensitive part of student behaviour. 2) Trial formats hold back the speed with which students can perform. Compare how many capitals of states a student can name using Precision Teaching flascards with the number possible if each is presented to the student with a question, ‘What is the capital of this state?’ 3) With a trial format, students do not initiate responding. They get used to waiting for a teacher before taking any action, encouraging passivity and prompt dependency. 4) Fixed lists of tasks used in DT instruction prevents adapting continually to student’s current performance so that some students may respond incorrectly or others fail to progress when they are ready for more difficult tasks. 5) Most DT procedures include procedures for correction of errors. Correction is not part of shaping. Every failure slows down the rate of responding and dampens momentum. 6) DTT is limited in terms of generalization. 7) DTT needs to reprogram for spontaneous skill use. 8) DTT is quite costly – time and finding. 9) Requires specific programming time blocks. In response to these criticisms, Hart and Risley (1968) developed another procedure known as ‘incidental teaching’, a type of NET used to increase quantity and complexity of mands and generally to a lesser degree tacts. NET involves providing structured learning opportunities within the natural context or naturally occurring activities byShow MoreRelatedChange Management49917 Words   |  200 PagesPlanned Change 5. Unplanned Change 2. 4. 6. Stimulating Forces Change Agents Lewin’s Three Step Model The change means the alteration of status quo or making things different. It may refer to any alteration which occurs in the overall work environment of an organization. When an organizational system is disturbed by some internal or external force, the change may occur. The change is modification of the structure or process of a system, that may be good or even bad. It disturbs the existing equilibriumRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesImproving Customer Service 18 †¢ Improving People Skills 19 †¢ Stimulating Innovation and Change 20 †¢ Coping with â€Å"Temporariness† 20 †¢ Working in Networked Organizations 20 †¢ Helping Employees Balance Work–Life Conflicts 21 †¢ Creating a Positive Work Environment 22 †¢ Improving Ethical Behavior 22 Coming Attractions: Developing an OB Model 23 An Overview 23 †¢ Inputs 24 †¢ Pr ocesses 25 †¢ Outcomes 25 Summary and Implications for Managers 30 S A L Self-Assessment Library How Much Do I Know About OrganizationalRead More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 PagesUniversity with a major in mathematics and, while acquiring graduate degrees at the University of Iowa, concentrated on statistics, computer programming, psychometrics, and test development. Currently, he divides his duties between teaching and evaluation; in addition to teaching, he is the assessment facilitator for the Cedar Rapids, Iowa, Community Schools. In his spare time he enjoys reading and hiking. He and his wife have a daughter, Anna, who is a graduate student in Civil Engineering at Cal Tech

The Ingredients of a Fantastic Piece of Literature

Jane Austen: one of the most famous authors of British literature. Her numerous literary devices and complex novels made dozens of critics consider her as one of the most important authors of her era. Additionally, I also support his claim thoroughly. A master of her craft on her time period, Austen helped to define her era with her novel Persuasion. An ever-changing plot, dozens of complex characters and indirect characterization make this novel a great representation of the literature of the period of time. The ingredients needed for the recipe of a great novel are present in Persuasion. For me, the best attribute of Jane Austens writing is her characterization. Her ability to create complex characters through a variety of techniques is quite fascinating. For example, in Persuasion, Austen describes her characters by actions and reactions various times. She does not describe how Anne feels or gives us an insight of her ideas. Instead, her reactions to different events contribute to her complex character. Anne does not lose her head to different events that are occurring during her life. â€Å"It was an afternoon of distress, and Anne had every thing to do at once; the apothecary to send for, the father to have pursued and informed, the mother to support and keep from hysterics, the servants to control, the youngest child to banish, and the poor suffering one to attend and soothe (Austen 33). However, during these events, she manages to stay calm and dont panic. SheShow MoreRelated C.S. Lewis on Misunderstanding Fantasy Essay4960 Words   |  20 Pagesthe loss of credibility of fantasy literature among the academic elite who ruled it a popular genre with little to no scholarly merit. Little that had had the misfortune of being dubbed fantasy had escaped the blacklist cast upon the field. 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Formal feedback will be given and you will have the opportunity to ‘tweak’ your work and resubmit it, for up to three times for the same piece of work. Just a note about the structure of assignment answers. You will help; the assessor, the internal and external verifiers if you make it clear which question and part of the question you are addressing, by using headings and sub-heading whereRead MoreEdith Head: Hollywoods First Woman Fashion Designer Essay8781 Words   |  36 Pages  She  later  said  of  the  borrowed portfolio: I  was  studying  seascape  and  all  I  could  draw  was  oceans.  I  needed a  portfolio,  so  I  borrowed  sketches  Ã‚ ­Ã‚  I  didn’t  steal  them.  I  asked everybody  in  the  class  for  a  few  costume  design  sketches.  And  I  had 3 the  most  fantastic  assortment  you’ve  ever  seen  in  your  life.  When  you get  a  class  of  forty  to  give  you  sketches,  you  get  a  nice  selection. 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Introduction to the Economic and Management Environment Free Essays

string(218) " Examination date and examination centre Please see the Undergraduate Information Brochure of 2004 Examination paper In the examination you can expect questions similar to those set in the multiple choice assignments\." INMALL-N/301/3/2004 FACULTY OF ECONOMIC AND MANAGEMENT SCIENCES Introduction to the Economic and Management environment Module 1 (INM101-3) and Module 2 (INM102-4) ? ? ? ? ( INMALL-N: TUTORIAL LETTER 301/2004 GENERAL INFORMATION 2 TABLE OF CONTENTS INMALL-N/301 PAGE 1. Student number 3 2. Tutorial material 3 3. We will write a custom essay sample on Introduction to the Economic and Management Environment or any similar topic only for you Order Now Inventory letter 4 4. Tutorial letters 4 5. Queries and problems – what do I do? 4 6. Examination: 5 6. 1 Examination admission 5 6. 2 Examination date and centre 5 6. 3 Examination paper 5 7. Why assignments? 8. Assignment system 6 8. 1 The support/enrichment stream 6 8. 1. 1 Information: Self evaluation assignments 7 8. 2 The ordinary stream 7 8. 2. 1 Information: Multiple choice assignments 8 3 INMALL-N/301 Dear Student A big welcome to the Faculty of Economic and Management Sciences! You have registered for a unique course which gives you the opportunity to become acquainted with all the disciplines offered by the Faculty and combinations of them before deciding what direction you wish to follow in your studies. Five departments in the Faculty, namely Business Management, Industrial Psychology, Economics, Quantitative Management and Accounting, have joined forces to give you an idea of each one’s field of study and to show you how the disciplines can complement one another in a management setup. So in one course you are exposed to various management aids which are used by the professions (eg accountants) as well as business enterprises. Most Unisa students start their university studies a relatively long time after leaving school. Along the way they often forget how to study. Studying in the right way is not something we do automatically – and so we considered it very important to include a section on study management (see Topic 1, in the study guide of INM101-3). This topic is presented by the Student Services Bureau. Besides an academic introduction to the core courses, we also concentrate on career management since you are embarking on the present study with a view to your future career. Topic 2 in the study guide of INM101-3 (Career Management) gives you an overview of the various phases in the process which culminates in making sensible career, course and subject choices. Career Management is therefore relevant for anyone beginning their studies in the Faculty, whether or not you have decided on a career. It is, however, more useful for those of you who are uncertain about your choice of career and we strongly recommend that you work through the study guide of INM101-3 very carefully. This tutorial letter is very important because it contains important general information. Please keep it in a safe place. We hope that you will find this course most useful! 1. Student number Every Unisa student receives a unique student number the first time he or she registers. You should have this student number with you AT ALL TIMES and should always mention it in any communication with the University. 2. Tutorial material The tutorial material for this course consists of: † The study guides Module 1(INM101-3): One Study Guide Module 2(INM102-4): One Study Guide † Tutorial Letter 301 – General information † Tutorial Letter 101 for INM101-3 – Assignment questions Tutorial Letter 101 for INM102-4 – Assignment questions † Tutorial letters which will be sent to you during the course of your studies with feedback on the assignments and other important information. INMALL-N/301 3. Inventory letter On registration you will have received, together with the available tutorial material, an inventory letter for the current academic year. This inventory letter lists only those items that are available on the day you register from the Despatch Department in Pretoria or the University’s regional offices. Those of you who registered at a regional office will receive the rest of your tutorial material by registered post from Pretoria as it becomes available. Please check the tutorial material that you have received against the inventory letter. Unless the letter indicates otherwise (eg â€Å"out of stock†), you should have received all the items listed. If some of the items are missing, please immediately follow the instructions on the reverse side of the inventory letter. Please note! Use only the telephone number that appears on the inventory letter when you phone the Despatch Department to inquire about tutorial matter that you do not have. 4. Tutorial letters Tutorial letters are Unisa’s principal means of communication and teaching. Please read ALL tutorial letters. The brochure Unisa: services and procedures explains the numbering of the different types of tutorial letters. 5. Queries and problems – what do I do? ; – Problem ( – Solution a. Course related queries about the contents of the study material / assignments Lecturers: Mrs Ria van Helden F(012) 429-8643 Mrs Jacoleen Vogel F(012) 429-8513 Mrs Suzette Ragadu F(012) 429-8609 Mr Adolph Rasengane F(012) 429-8650 b. Any other queries about the assignments Secretaries: Mrs Tersea Dalporto Mrs Helene Louw All other administrative queries e. g: Change of address nd/or exam centre Marks and credits for assignments etc. Write to: The Registrar (Academic) UNISA P O Box 392 Pretoria 0003 c. F (012) 429-4114 F(012) 429-8635 F(012) 429-8750 5 INMALL-N/301 Please remember! You may include more than one letter in an envelope, but please do not address the lecturers responsible for the course, another department, the Library and/or an administrative department all in the same letter ! This will only cause delays. Write a separate letter to each and mark each clearly for the attention of the department in question. Do not include correspondence in an assignment envelope, and please never write to Unisa without clearly indicating your student number, subject and paper code at the top of your letter. WE ASSUME THAT YOU ARE FAMILIAR WITH THE FOLLOWING BROCHURES: (1) CALENDAR PART 2 and 3, 2004: GENERAL INFORMATION GENERAL REGULATIONS (2) UNISA: SERVICE AND PROCEDURES 2004 6. Examination 6. 1 † 6. 2 † 6. 3 Examination admission Due to the implementation of the new modular system, all students registered for modular courses will be granted automatic admission to the examinations in 2004. Examination date and examination centre Please see the Undergraduate Information Brochure of 2004 Examination paper In the examination you can expect questions similar to those set in the multiple choice assignments. The examination paper will consist ONLY of multiple choice questions. 7. Why assignments? ; We realise that it is difficult to have to rely entirely on distance education. You do not always have a lecturer right there to explain the learning material to you. You have to depend on yourself and need considerable self discipline. The way to an academic qualification is narrow and steep – Unisa’s motto is not â€Å"Hope through hard work† for nothing. There are, however, also advantages to studying in this way. You can earn while you study, and you can study at your own pace. And although we might be far from you, we are always available to give you guidance and support. Always bear this in mind. We know from experience and research that assignments are one of the most effective ways in which we can offer guidance and support to make you part of a meaningful learning experience. Although you do not have to submit assignments in order to earn credits for examination entry, we recommend that you do all the assignments. It will help you to work in a structured way throughout the academic semester and to achieve success. We should like to explain why assignments are so useful in the hope that it will inspire you to approach yours with enthusiasm. 6 INMALL-N/301 † They provide a study programme which, if you follow it carefully, will help you to work through all the tutorial material and still have enough time to revise for the examination. They are a reasonable periodic check of your knowledge. † Assignments help you to prepare for the examination. The examination paper will consist of similar questions to those in the multiple choice assignments. For this reason it is also a good idea for you to practice answering multiple choice questions on a mark reading sheet. † You have to obtain 50% in the examination to pass regardless of the marks you earned for your assignments. † Assignments are a good means of teaching. It is therefore to your advantage to do assignments. You not only acquire knowledge in the process but also learn from the feedback we give you on your assignments. ( Try to keep to your study programme – it will definitely be to your advantage! Academic ethics require that students submit their own original work. You are only cheating yourself if you copy other students’ work or do an assignment haphazardly. 8. Assignment system In order to help you with the submission of assignments, we have designed a system that makes provision for two assignments in each module. One assignment is in the ordinary stream and the other one is in the support/enrichment stream. Each assignment has a due date. The due date is the date on which the assignment must be at Unisa and not the date on which you post it. Be sure to plan for possible delays in the post! 8. 1 The support/enrichment stream – Assignment 1 of INM101-3 and INM102-4 The assignment in this stream is made up of paragraph and essay type of questions and must be answered on the assignment writing pad. This stream has a double purpose. † Firstly it is exactly what the name indicates – an opportunity for enrichment. Here you have a chance to improve your reading and writing skills. As you will see in Topic 3 (Communication) in the only study guide for INM102-4, reading and writing skills are very important tools for anyone and not something one learns automatically – you have to acquire them. This enrichment stream serves to prepare you for the essay type assignments you can expect in later years of study. The assignment in this stream is an opportunity for enrichment. † Secondly, this assignment has been designed to develop your ability to evaluate your own work. This ability is a very important component of independent study. Although we shall not be marking this assignment, we shall read it. You should therefore make a copy of your assignment before posting it to Unisa. You will receive guidelines for this assignment (after the due date) to help you evaluate it yourself. 7 8. 1. 1 INMALL-N/301 Information: Self evaluation assignment This is assignment 1 of INM101-3 and INM102-4 in the support/enrichment stream. This assignment does not have an unique number for the computer. Very important! We shall not return the self evaluation assignment to you. Please make a copy of your assignment before posting it so that you can evaluate it yourself using the guidelines for the solutions. Remember! † † † † † † † † † † † † Work carefully through the relevant tutorial material before tackling an assignment. Read the question carefully and underline the key words – this will help you with the interpretation. Think about the question! Plan your answer before beginning to write. To sketch a framework for your answer, you need to use headings and subheadings. Set out your opinions clearly. Write legibly and use full sentences. There is no excuse for an untidy and illegible assignment. Fill in your student number correctly on the assignment cover. Fill in the assignment number correctly on the assignment cover. You will receive a set of guidelines and solutions for all the assignments. You get no marks for assignments which you submit. Because the support stream option is so lenient, we will not grant extensions for assignments. 8. 2 The ordinary stream – Assignment 2 of INM101-3 INM102-4 The assignment in this stream is made up solely of multiple choice questions and must be answered on a mark reading sheet. Mark reading sheets are read into the computer immediately when they are received at Unisa and are marked by the computer on the due date. Unisa does not work according to a system of semester marks, and marks for assignments are not taken into account when the final examination marks are calculated. The percentages obtained for assignments indicate to you how well you have mastered the work. After the due date for each assignment all registered students will receive the solutions, or guidelines for solutions to, or a discussion of the assignment received. 8. 2. 1 Information: Multiple choice assignment This is assignment 2 of INM101-3 and INM102-4 in the ordinary stream. This assignment has an unique number for the computer. Very important! † † Work carefully through the relevant tutorial material before you tackle the assignment. Work out your answers on a separate piece of paper before you complete the mark reading sheet. 8 INMALL-N/301 Instructions on how to use mark reading sheets to answer multiple choice questions are contained in the 2004 â€Å"Unisa: Services and procedures†. Read these instructions CAREFULLY and follow them EXACTLY to avoid making mistakes. Remember! † † † † † † † † There is only one correct answer to each question. Only mark reading sheets may be used. Colour in the correct block with an HB pencil. Fill in your student number correctly. Fill in the assignment number correctly. Fill in the unique assignment number correctly. Every assignment which is marked by the computer is given a unique number. The number contains information on the course code and assignment number. When the computer reads the mark reading sheet with, say, the unique number 198415, it â€Å"knows† that it is Assignment 02 for INM101-3 in the first semester. Send only your mark reading sheet to the Assignment Division in the appropriate envelope. You do not have to complete an assignment cover. Make sure that you have enough mark reading sheets. Do not: † † † † † † † † Do not Do not Do not Do not Do not Do not Do not Do not make more than one mark per question tear or fold the mark reading sheet staple the mark reading sheet to another piece of paper colour outside the block colour in the blocks with a pen make corrections with Tipp-Ex submit answers on a written sheet of paper try to repair a torn mark reading sheet with sticky tape – use another one The assignment questions and due dates will be included in Tutorial letter 101 Good luck with your studies! Your INM101-3 / INM102-4 lecturers How to cite Introduction to the Economic and Management Environment, Essay examples

Current Development in Accounting Thought for Historical Cost

Question: Discuss about theCurrent Development in Accounting Thought for Historical Cost. Answer: Introduction Accounting is considered as one of the major processes for the success of the business organizations. The main aim of this essay is to analyse and evaluate three different aspects of the accounting process (Scott, 2015). The first part of the essay sheds light on three major alternatives of historical cost accounting for the companies. The second part of the essay identifies the major users of accounting within the conceptual framework of Australian Accounting Standard Board (AASB) and International Accounting Standard Board (IASB). It also discusses about the implication of this identification on the future of accounting measurement. The last part of the essay discusses about the major advantages of accounting process developed from conceptual framework. Under the process of Historical Cost Accounting, the measurement of the value of the assets and liabilities is done based on the original and nominal cost of the assets and liabilities at the time of acquisition. There has been the development of many alternative methods of historical cost accenting in order to overcome the loopholes of this process. The following discussion shows the description of three alternative methods of historical cost accounting. Constant Purchasing Power Accounting (CCPA): IASB introduced the process of CCPA as a major alternative of the traditional historical cost accounting and the application of this accounting process can be seen under hyper-inflationary environment (Rodrigues, Schmidt dos Santos, 2012). Under CCPA, the accountants measure the financial capital maintenance in the units of constant purchasing power (CPP) in terms of consumer price index (CPI) at the time of low inflation. At the time of high inflation and hyperinflation, the accountants can use the measurement in daily indexed unit account. There are three major underlying assumptions in this model (Whittington, 2014). As per the first assumption, accrual basis of accounting is used for the recognition of events and transactions. The second assumption supports the going concern assumption of the companies. As per the third assumption, the measurement process of CCPA in units of all constant real value non-monetary items can automatically remedies the erosion of stable measuring unit assumption. Business organizations can apply CCPA for the purchase of their plant and machinery (Henderson et al., 2015). For example, on 1 January 2010, a company purchased a plant for $6000000 and the CPI was 150. On 1 January 2015, the CPI index was 200. Thus, the cost of the plant in 2015 would be $8000000 ($6000000*200/150). Based on the above example, CCPA can be considered as viable alternative of historical cost accounting. Under historical cost accounting, the company would not consider the changes in the price of the plant where CCPA consider the deviation in changes in the price of the plant over the years. Thus, CCPA is a viable alternative. Current Cost Accounting (CCA): Current Cost Accounting (CCA) is also considered as another major alternative of historical cost accounting and CCPA. It needs to be mentioned that CCA was introduced to overcome the criticism of CPPA (Schaltegger Burritt, 2017). With the application of the process of CCA, the accountants become able to recognize the change in the individual price of the assets and liabilities due to the change in general price level. Under the process of CCA, the development and interpretation of the financial statements are done in such a manner so that they can reflect the change in price of the assets and liabilities. There is not any consideration of retail price index under CCA as the valuation of assets is done in the current cost basis under CCA. There is a basic assumption under CCA (McCarthy et al., 2012). As per this assumption, the valuation of the stocks is done based on FIFO (First In First Out) basis. The main objective of CCA is the reporting of the ass ets and liabilities in the financial statements based on fair market price. Business organizations can apply the process of CCA for the valuation of their assets. For example, the book value of a plant is $8000000; but the fair market value of the same plant is $5000000. Thus, under the process of CCA, the company will consider the latter due to fair market value. For the reason of considering all the changes in the price of the assets, CCA can also be considered as a viable alternative of historical cost accounting (Chambers, 2014). Exit Price Accounting (EPA): Exit Price Accounting (EPA), also known as Continuously Contemporary Accounting (CoCoA) is a major alternative of historical cost accounting (Fischer Marsh, 2013). As per EPA, the companies should do the valuation of their assets based on their exit price so that the financial statements can show the ability of the companies to adapt. There are three major assumptions of EPA. The first assumption states that the companies exist to increase their wealth. As per the second assumption, the companys ability to adapt the changing environment determines the organizational success (Djafri, Taleb Bouteldja, 2014). As per the third assumption, the capacity of adaption can be best reflected by the monetary value of assets and liabilities. Thus, it can be seen that EPA takes into account the changes in the value of the assets and liabilities as the motive of this system is to report the value of asset in fair market value. For this reason, EPA can be considered as a viable alternative of historical cost accounting (Fields, 2016). Accounting refers to the process to communicate the financial information about the business entities to the different users. Thus, it can be observed that accounting information has major impact on the financial decision-making process of different users. In the conceptual framework of IASB/AASB, there is mention of the users of accounting. As per this framework, there are two types of users of accounting; they are Internal Users and External Users. The following discussion shows the description of these users of accounting: Internal Users or Primary Users: The internal users of accounting are discussed below: Management: It needs to be mentioned that management of the companies is the major users of accounting. The managements of the business organizations are in need of the accounting information in order to measure the performance of the business. Accounting information related to the profitability, liquidity, efficiency and others shows the management with the actual financial position so that effective strategies can be developed (Schaltegger Burritt, 2017). Employees: As per the accounting conceptual framework, employees are considered as major internal users of the accounting information. For the purpose of judging the future of the remuneration of the companies, the employees need accounting information on the profitability of the companies. Employees need accounting information to assessing their job security (Edwards, 2013). Owners: Owners of the businesses are most important internal users of the accounting of the companies. Business owners need the accounting information of the companies for the analysis of the viability and profitability of their investments. They also need accounting information for the determination of any future course of actions (Weil, Schipper, Francis, 2013). External Users or Secondary Users: The external users of accounting are discussed below: Creditors: Creditors are considered as one of the major external users of accounting. The main reason for which the creditors need accounting information is the determination of credit worthiness of the business organizations as the creditors set the terms of credit based on the results of credit worthiness analysis. For this reason, it is necessary to get accounting information on the financial health of the companies. The major types of creditors in the business organizations are suppliers, lenders, banks and others (Horngren et al., 2012). Tax Authorities: Tax authorities are considered as another major external user of accounting. It is required for the tax authorities to determine the financial position of the business organizations. It helps the tax authorities in determining the credulity of the business organizations to pay the required amount of taxes (May, 2013). Investors: It is required for the investors of the companies to ascertain the financial position of the business organizations so that they can take effective investment decisions. For this purpose, the investors need accounting information on various aspects like profitability, liquidity, efficient, debt position and others. Thus, they can be considered as the major external users (Henderson et al., 2015). Customers: Customers are also considered as another major external user of accounting information. It is required for the customers to assess the financial position of the companies to maintain a stable source of supply in long-term basis (Sharma Panigrahi, 2013). Regulatory Authorities: The financial regulatory authorities require the accounting information in order to be ensured that the company has adopted the correct accounting standards. From the above discussion, it can be seen that the conceptual framework of IASB and AASB provided details about the users of accounting. In this context, it needs to be mentioned that there are some major implications of this identification of the users of accounting for the future of accounting measurement. In this process, the involvement of fair value and historical cost accounting can also be seen (Sharma Panigrahi, 2013). It is an important aspect that both the internal as well as external users of accounting need the most relevant information for their different purposes. It needs to be mentioned that the process of historical cost accounting does not take into consideration all the changes in the value of the assets and liabilities over the years. Thus, under the process of historical cost accounting, the users will not be able to get the most relevant accounting information. However, in case of fair value accounting, it can be observed that this accounting process takes into account all the changes in the value of the assets and liabilities of the companies. Thus, it needs to be mention that it is required for the IASB and AASB to consider the effect of both historical coat accounting and fair value accounting while further identifying the users of accounting. It is recommended to the conceptual framework of AASB and IASB to consider the adoption of the strategy of fair value accounting for the future development in the identification of users of accounting measurement (Henderson et al., 2015). Requirement [a] The presence of accounting process can be seen resulted from the development of conceptual framework. In this context, it needs to be mentioned that this accounting process has some major advantages. This type of accounting system has been developed from the conceptual framework of IASB. The first advantage is that with the help of this accounting system, the accountants become able to resolve different kinds of tough accounting problems (Jorissen et al., 2012). With the assistance of this accounting system, the accountants become able do the analysis of different types of accoutring issues. Thus, it can be said that the adoption of this accounting helps the business organizations in the decision-making process. In case of the complex financial reporting issues, the business organizations become able to get the basis of reasoning to solve these issues. For this reason, the accountants become able to narrow down all the alternatives so that they can reach to the correct solution of th ese problems. Thus, it can be said that this accounting process helps the accountants financial managers in bringing greater efficiency and consistency in dealing with different kinds of financial accounts of the companies. Apart from this, it needs to be mentioned that the accounting developed by the conceptual framework provides a guiding principle for the board of directors in the decision-making process (Henderson et al., 2015). Moreover, the inclusion of this accounting system is majorly helpful in the reduction of any kind of influence or biasness in the accounting process of the companies. For this reason, it can be observed that in the absence of this accounting system, the decisions of the management of the companies will be different due to the potential presence of biasness or influence. Another major aspect is the increase in financial credibility (Murphy OConnell, 2013). The use of this accounting system developed from conceptual framework provides credibility in the process of financial reporting and the accountants become able to increase this credibility of financial reporting. Hence, this particular aspect helps both the preparers and users of the financial statements of the companies as this accounting system bring internal consistency in the whole accounting process. Most importantly, it needs to be mentioned that this accounting system helps the users of the financial reports in the process of better understanding the accounting information; they also become able to understand the limitations of this accounting information (Zhang Andrew, 2014). This particular accounting provides the accountants and users of the financial statements with a frame of reference so that they can understand the results of the financial statements of the companies. Thus, from the above discussion, it can be seen that the accounting system developed from the conceptual framework has major benefits for the companies, accountants and the users of the accounting information. Requirement [b] In the provided article named, Financial Accoutring Knowledge, Conceptual Framework Projects and the Social Construction of the Accounting Profession, the author has sheds light on different aspects of the accounting profession (Hines, 1989). In this article, the author has mentioned that the professional practices have the power to solve different kinds of complex problems in the field of accounting. In the discussion of this article, it can be seen that the accounting professionals depend a lot on the accounting knowledge for different kinds of accounting problems (Hines, 1989). In this study, the author has mentioned about some specific skills required by the accountants while performing various operations in the accounting process; they are diligence, honesty, integrity, recording skill, bookkeeping skill, accuracy, orderliness, negotiation and many others. In the above discussion, it has been mentioned that the main advantage of the accounting system developed by conceptual fram ework is that it helps all the parties like the users, accountants, management of the companies and others (Hines, 1989). Thus, for all these reasons, it is required for the accounts to possess all the above-mentioned qualities along with effective accounting knowledge. Thus, based on the above discussion, it can be seen that the author of this article believe that both the users and accountants of the companies will be largely beneficial from the development of conceptual framework (Hines, 1989). Conclusion From the above discussion, it can be seen that there are three major alternatives of historical cost accounting; they are Constant Purchasing Power Accounting (CCPA), Current Cost Accounting (CCA) and Exit Price Accounting (EPA). The above discussion also shows that there are two types of users of accounting; they are external users and internal users. It can be seen that all these users need accounting for different purposes like investment decision-making, to know about the financial condition of the companies and others. 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