The Olympics Promise to Bring Countries Together Essay

The Olympic Games are a set of friendly competitions that bring countries from all around the world together, but many social, political, and economic problems in the past and present including racial and sexual discrimination and apartheid have prevented the Olympic Games from fulfilling their promise to bring countries together. The Olympics are a set of games that occur every 4 years in the winter and the summer. These games bring countries from all around the world together for friendly competition. The IOC (International Olympic Committee) is the governing body of the Olympic Games. Their headquarters are located in Lausanne, Switzerland. The Olympics are the most important athletic competition in the world. It brings together the†¦show more content†¦In 1968, two black American male athletes made history at the Mexico Olympics by making a silent protest against racial discrimination during the American National Anthem in the victory ceremony. Tommie Smith and John Carlos, gold and bronze medalists in the 200m run stood with their heads bowed and a black-gloved hand raised as the American National Anthem played. Both men wore black socks and no shoes and Smith wore a black scarf around his neck. They were demonstrating against the continuing racial discrimination of black people in the United States. When they left the stand at the end of the ceremony they were booed by the crowd. At the press conference after the event Tommie Smith said: If I win I am an American, not a black American. But if I did something bad then they would say a Negro. We are black and we are proud of being black†(BBC On this Day 1968: Black athletes make silent protest). Smith raised his right fist to represent black power in America, and Carlos raised his left fist to represent black unity. Together they form an arch of unity and power. The black scarf represented black pride and the black socks with no shoes stood for black poverty in racist America. A person from the IOC said it was a deliberate and violent breach of the fundamental principles of the Olympic spirit(BBC On this Day 1968: Black athletes make silent protest). This was a social and politicalShow MoreRelatedThe Cold War Of 1945-19911660 Words   |  7 Pagesthe Soviet Union continue propaganda or resort to an attack? Many democracies across the world like North America, Western Europe, Japan grew in prosperity after World War II ended. The United States became the world’s wealthiest and most powerful country. These democracies rivaled the United States economically. The United States and the Soviet Union had many differences that didn’t cause a full fled war, but a quiet, propaganda and secretive filled war that pushed both to the edge. This was knownRead MoreThe History of the Olympic Games1470 Words   |  6 PagesbIntroduction/bbrToday, the Olympic Games are the worlds largest pageant of athletic skill and competitive spirit. They are also displays of nationalism, commerce and politics. Well-known throughout the world the games have been used to promote understanding and friendship among nations, but have also been a hotbed of political disputes and boycotts. The Olympic games started thousands of years ago and lasted over a millennium.. The symbolic power of the Games lived on after their demise,Read MoreThe Munich Massacre : A Survivor s Story1487 Words   |  6 Pagesthe most detrimental disruption by politics in the Olympics occurred at the 1972 Germany Summer Games. On 5 September 1972, the Palestinian group Black September broke into the Israeli athletes’ quarters armed with guns. The 21 hour standoff, more famously known as the Munich massacre, resulted in 17 deaths. 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City officials need to take in a lot of factors when determining whether or not to put forth the resources to submit a bid. One of the most crucial factors in deciding is determining what type of legacy the Games would potentially leave on a city that hosted. Legacies can be defined as, â€Å" planned and unplanned, positive and negative, intangible and tangible structures created through a sportRead MoreThe Olympic Games Is A Good Or Bad Thing Essay2411 Words   |  10 PagesPosition Paper Whether hosting the Olympic Games is a good or bad thing is very complex. City officials need to take in a lot of factors when determining whether or not to put forth the resources to submit a bid. One of the most crucial factors in deciding is determining what type of legacy the Games would potentially leave on a city that hosted. Legacies can be defined as, â€Å" planned and unplanned, positive and negative, intangible and tangible structures created through a sport event that remainRead MoreThe Olympics Of Rio De Janeiro1536 Words   |  7 PagesEvery four years, an event is held that brings people from all around the world together: the Summer Olympics. The Summer Olympics are supposed to be an enjoyable event where athletes who have trained very hard compete for our entertainment and to earn an Olympic medal. However, the 2016 Olympics could have an entirely different feel to them. The 2016 games will be taking place in Rio de Janeiro, Brazil. When countries win the rights to host the game, they usually construct all sorts of expensiveRead MoreRhetoric in Jfk and Mlk Jr.s Speeches1119 Words   |  5 Pagesand evident concern to the people of America once again. Issues were being brought up to leaders that could and had the authority to actually help out and do something about these said issues. John F. Kennedy was elected in 1961, and the state our country was in was not as great as it could have been. In fact, it was not good at all. In North America, African Americans were discriminated against in many areas including education, work opportunities, and housing. In South America, African AmericansRead MoreThe Leadership of Russian President Vladimir Putin1520 Words   |  6 Pagesinauguration speech he said, â€Å"We have common aims, we want our Russia to be a free, prosperous, flourishing, strong and civilized country, a country that its citizens are proud of and that is respected internationally.† He added that he would be guided solely by the interests of the state. â€Å"Perhaps it will not be possible to avoid mistakes, but what I can promise and what I do promise is that I will work openly and honestly†, Putin said.http://www.politicalanalysis.info/vladimir-putin.html Current situationRead MoreGreece Economic Crisis1636 Words   |  7 Pagesborrow money and spend it on pay-rises for public workers and projects such as the 2004 Olympics. It began to run-up a bigger and bigger deficit (the gap between how much a country brings-in from tax, and what it spends). Athens olympics Greece enjoyed high public spending during the boom years, including an expensive Olympics. After the world economy went bad, Greece suffererd. Banks started to view it as a country that might not be able to manage its money. They worried Greece might eventually fail

Dance Of Concert Response Paper - 1592 Words

CSULB Dance In Concert Response Paper 21st of May, California State University of Long Beach held the CSULB Dance In Concert at Martha B. Knoebel Dance Theater with the collaboration and choreography by the CSULB dance faculty such as Colleen Dunagan, Rebecca Lemme, Sophie Monat, Andrew Vaca, and featuring guest Laurel Jenkins and Doug Varone. From the show, the dances represented through various genre such as contemporary, contemporary ballet, and modern dance. The element of contemporary defines as a collaborative style that includes modern, jazz, ballet, and hip hop. All these styles of dances were shown by connections after each intermission. In particular, I will concentrate mostly about contemporary dance out of all the dances in the concert and talk about the effects on three out of six performances. The performances reflects mostly on how we describe life and nature and partially define life to every aspect of the emotion were being introduced by the dancers. The premiere of Witnesse, choreograph by Rebecca Lemme bring the audience to a gloomy opening and extraordinary set of stage. From the dimmed light to the dark green costumes wore by dancers, there is a particular set of spotlights that were slowly drawn on top of each dancer as they were laying on the floor. From the moment that the spotlight was hitting on each of performers’ faces, I came into the thought of life. Moreover, spotlights are the representation of the sun and the color of green associated withShow MoreRelatedA Concert That I Went At The Tcf Bank Stadium979 Words   |  4 Pages For my final paper, I decided to focus on a concert that I went to this summer. On June 20th, I went to the Kick Up The Dust concert at the TCF Bank stadium. This was an all day concert and included multiple performers, like Dustin Lynch, Randy Houser, Thomas Rhett, Florida Georgia Line, and headliner Luke Bryan. Because of what I’ve learned in this class, I was able to recognize and analyze a lot of the different elements and characteristics of the music. And because there were so many performersRead MorePresentation Of Lamont Symphony Orchestra Performed Three Beautiful Sets Of Music1359 Words   |  6 PagesKregar 1 Rebecca Kregar Dr. Emily Intro to Music 23, November 2016 Concert Paper Assignment Lamont Symphony Orchestra performed three beautiful sets of music that was conducted by Ryan Kozak with Hisham Bravo Groover, Assistant Conductors and Lawrence Golan being the Music Director and Conductor at Denver University on Thursday, November 17, 2016 in June Swaner Concert Hall at 7:30pm. Kozak conducted all three of the of the pieces; Danse Macabre Op 40 by Camille Saint-Saà «ns (1835 to 1921), IsleRead MoreRestaurant Review: Red Arrow Diner in Milford809 Words   |  3 Pagesit. Post it on the DB so I can check it. Email it to me if you want a quicker response. Your three body paragraphs that follow will each focus on a subpoint. My next paragraph would be about the food. My third paragraph would be about the ambience. My fourth paragraph would be about the service. My fifth and final paragraph would be a 4-5 sentence conclusion teaching the reader what I have learned by writing the paper without repeating myself in any way, shape or form. The Red Arrow Diner in MilfordRead MoreThe And Of The Great Gatsby By F. Scott Fitzgerald1291 Words   |  6 Pagesconvinced I liked Henry. He doesn t really stand out to most, but his personality truly did. He made me feel comfortable when I vented to him at twelve in the morning. Everything felt so right. October 8, 2015, was the first band concert of the year. I always enjoy band concerts. A group including Justin Hansen, who was dating Tori at the time, Brette Bryant, Tori and me all decided to go to Cook-Out really quickly. As we pulled in Tori pointed to Henry’s car and explained how it broke down earlier andRead MoreMusic History : Influences From Different Cultures Gave The Basis Of How Music Essay1360 Words   |  6 PagesJessica Seepersad Music 100 Dr. Manns December 9, 2016 Final Paper Throughout music history, influences from different cultures gave the basis of how music is written, played or performed. In the two fieldworks, I conducted at Brooklyn Museum and Brooklyn College convey the idea that music no matter where it is performed can reach others and tell stories. Whether the music is new or old, all music has a beginning. The two genres of music I studied were classical/romantic and Latin-pop/neo-soulRead More Isadora Duncan Essay2921 Words   |  12 Pagesamp;#9;Isadora Duncan was a famous dancer who brought a new kind of dance to the world. She danced out the feelings from deep in her heart. Unlike other dancers in the late nineteenth century, Isadora Duncan danced with flowing motion. She was not a ballerina, and did not like to watch ballet dancers, with their stiff bodies and unnatural pointe shoes. At first she was not liked, but as time went on, Isadora Duncan became a dance revolutionist people all over the world will never forget. amp;#9;AngelaRead Moreconcert report MUSIC APPRECIATION2347 Words   |  10 Pagesto watch a concert entitled â€Å"Autumn Winds† at Colburn School in Downtown Los Angeles. It was part of a monthly concert series â€Å"Rush Hour Concerts at Colburn† hosted by Gibson Dunn. Gibson Dunn is a prominent law firm whose active involvement in the community expands to all various arenas of the society through their leadership and services. Rush Hour Concert is held monthly at Thayer Hall in Colburn School located at 200 South Grand Avenue diagonally across from the Walt Disney Concert Hall. RushRead MoreKeep Music Education in Schools Essay1696 Words   |  7 PagesThe difference between the beat and rhythm is that lyrics of a song are sung in rhythm, and the beat is the steady pulse (McCutcheon 1). Jim McCutcheon says â€Å"When my wife was carrying our second son, we attended a nephew’s band concert – and my wife felt a definite response to the bandâ€℠¢s drum section – every time they played, the baby started kicking!† The steady pulse of music, or the rhythm, can be learned at a very early age, and can be one of the first things a child learns (McCutcheon 1). â€Å"I’veRead More The Similarities Between Classical Music and Ellingtons Jazz2414 Words   |  10 Pagesdelegated for late night audience only. This sub-culture treatment has led many critics to disregard the Jazz movement as a dance craze, or unsuccessful recreations of Classical pieces. 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School Culture Free Essays

Culture of a School: Interview and Reflection Paper Guidelines Ana Luna EDL505 Prof. Karen Clark 02/25/2013 * * Part One: Interview * To: Johnette Robinson * Owner and Director * Childlife Preschool 1. What is the school profile? (Urban, rural, etc. We will write a custom essay sample on School Culture or any similar topic only for you Order Now , grade level of students, number of students, number of students on free or reduced lunch (if applicable), ethnicity, number of students receiving special services and which type of special services, etc. The name of the school need not be revealed. ) * Childlife Preschool is located in an exclusive area of the city of Tampa,Carrollwood. Our school serves 110 children between the ages of 6 weeks to 12 years old. We have a very special racial diversity composed of 42 Hispanic, 9 Blacks, 38 Caucasians and 18 students from other ethnic groups (Indians, Brazilians, and Europeans). We have 51 children participating in the free lunch program provided by the government and 7 children participating in therapy (occupational, speech, psychology) and EELP (Exceptional Education Learning Program). Is state testing mandated? If so, how do students in general perform? If not, what type of testing is used to determine overall student achievement? * Our Program VPK (voluntary pre kindergarten) is tested by a standardized test called VPK assessment. This test is sent by Florida Department of Education and must be administered three times during the school year. The results of this test reveal the academic, social and language skills of our students. In these tests the state requires us punctuation not less than 69, our school earned a punctuation of 81 for the 2011-2012 school year. This year we are working towards our goal of 90 to become a five stars provider. In what ways are students and staff acknowledged in the school? * Members of our staff and students are recognized as an essential part of our school. Teachers are evaluated annually and earn bonuses depending on their performance in the classroom. Students are recognized each month, the staff choose the students of the month are five children who have distinguished for their improvement, behavior and achievement their works are displayed in the hallway for the whole month in the office hallway and are rewarded with a free pizza sponsored by a local business. What types of extracurricular activities are offered for students? Do students of both genders and all ethnicities represented in the school participate? Are some activities more popular depending upon cultural background? * In our school we offer both karate and gymnastics programs that are offered by local businesses specializing in these areas. Students of all races involved in those activities. Which is considered the greater challenge, academic achievement or behavior? Is there a connection between the two? We take equally the challenge of academic achievement and behavior, it is important for us to fully develop both areas because our main goal as a preschool is to prepare the child to go to the regular school. I definitely think there is a connection between academic achievement and behavior therefore both must be of equal importance in the teaching process. Our curriculum contains a wide section of social studies and social skills that target to develop the child’s beh avioral areas at par with the academic area. What types of professional learning have been offered to staff within the last year? * All our staff must complete at least 20 hours of continuing studies to improve their performance in the classroom. In the last year our school offered several classes like CPR, Exceptional Student Population, Classroom Management and techniques and other workshops offered by Florida Early Learning Coalition. All workshops are paid by the school. How are teachers encouraged to share with each other what they learn and do? Most of the teachers who took a course paid by the school must offer their peers a summary of the techniques they learned in class in order to expand knowledge. Every Thursday of the month we have a meeting in which separates a time for this purpose. Does the school administration engage in looking at school data with the staff? If so how is the data used? * The school administration is responsible for analyzing the data of testing and using graphs, charts and percentages discussed the results to improve those areas that need to be strengthened or improved. Is the staff in the school aware of the impact of culture on teaching and learning? Explain. * Our staff is trained on the importance of providing a multicultural environment for our children as these multicultural experiences will help foster social skills and adaptation that are very useful in everyday life and in the regular school. What types of culturally responsive instructional practices are used in the school? Do all teachers, some teachers, or a few teachers use these practices? At Childlife each classroom must maintain at least one multicultural area or include multicultural elements in various learning centers. For example in the babies classroom they have soft dolls representing different ethnic groups and some soft books in different languages. In other classrooms with older students we have musical instruments from other cultures, pictures of other countries and clothes that represent diverse cultures that expose the child to different cultural experiences. These multicultural practices are part of our philosophy so each teacher must use these practices in the classroom. Are the school rules or expectations posted? Are they stated in a positive way? Are they taught to students? * The rules and expectations are posted in the parent handbook and in the employee handbook. The rules are adapted to children at every level and are mostly hung around circle time in the classroom with pictures that help children to understand the rules. Do students have a voice in the school? Do they help determine rules, plan activities, etc? If so how? * Preschoolers do not have much involvement in designing the rules or school activities because of their young age lack the maturity to this. However our activities are focused in the interests of our children who will participate in the activity. How are families and the community encouraged to participate? * In Childlife preschool we believe in the integrity of the family and community as an essential factor in the optimization of the teaching, so we encourage them to be part of our school. Some of the activities which we encourage parents and community to participate in the school activities are the open house, fieldtrips and celebrations. * Part Two: Interview Reflection The Philosophy of Childlife Preschool is to create a caring, positive atmosphere that will motivate children to learn and develop physically, socially and emotionally. It is our goal to help children discover the joy of learning and have the desire to achieve that will last all their lives. We are committed to guiding children to develop a positive self-concept to e successful in their future educational endeavors. That is why we must not ignore the interaction between cultures that is occurring in our society and in our school. It is important to include multicultural elements that expose the child to experiences that help to accept other cultures and live in the diverse society in which we live. Our director has trained and oriented the staff about multicultural dynamics that we need to perform in t he classroom as part of preschool education that we provide to our children. The classrooms in Childlife multicultural preschool contain elements that help children understand diversity. Through continuing education workshops for teachers we also have had the opportunity to learn a lot about this topic and have enriched the educational environment with different multicultural elements. Technology also helped us a lot, although she does not mention it in the interview our classrooms were equipped with ipads in May allowing us to expand through the resources we use technology in the classroom including culture. The integration of extracurricular activities, community and parents are other elements that help to incorporate other cultures and enrich the educational environment with diverse knowledge and experiences. Childlife Preschool is a secure, loving environment where Parents and Teachers work together to encourage each child’s independent exploration of their world and promote their social, emotional, physical and cognitive growth. The â€Å"culture† of a school is an important aspect for Both students and staff because it helps to build a school that teaches tolerance, acceptance and adaptation to diversity. Our multicultural practices are part of our philosophy and we have helped to develop social skills that will serve the child in their daily lives and will serve in the future. The school is the first social institution to which the child is exposed so it is important to promote a culture of peace, tolerance and acceptance in which every single child feel special and proud of his heritage and roots. How to cite School Culture, Essay examples

Conceptual Accounting Theories and Frameworks

Question: Discuss about the Conceptual Accounting Theories and Frameworks. Answer: Introduction Accounting theories are the collection of assumptions is methodologies that are used to study and application of various financial reporting principles. Accounting theories have a lot of importance in the process of analyze and evaluate various financial documents of an organization. Hence, the study of accounting theories is a crucial aspect. There are various aspects of the financial reports or annual reports of organizations like the application of accounting methods, remuneration report, auditors report, dividend report and many others. Without the knowledge of accounting, it is not possible to analyze the above-mentioned aspects. The purpose of the report is to analyze the various financial aspects of BHP Billiton. The BHP Billiton is one of the top producers of major commodities that includes copper, uranium, iron ore etc. The company also has substantial interest in coal, oil and gas energy. The main aim of the company is to make social and economic contribution through operat ion[1]. The various stages of the report shows the analysis of different financial aspect of the company like remuneration report, auditors report, executive remuneration and many others. Auditors report Analysis The individual auditors report is an important aspect to analyze the financial position of any company. There is no exception of this rule in case of BHP Billiton. The auditing partner of BHP Billiton for the year 2016 was KPMG. The KPMG has tested and examined various accounts of BHP Billiton. The accounts includes consolidated statement of financial position, consolidated statement of profit and loss, consolidated statement of other incomes, consolidated statement of cash flows, consolidated statement of change of equity and many others. The KPMG has also provided non-audit services the details are provided in the Note 35 of the annual report Auditors Remuneration of the company. The analysis of the annual report provides that all the non-audit services have prior approvals. The audited financial statement generally indicates that it has been prepared in accordance with the existing conceptual framework and the relevant accounting standards[2]. Meaning and scope of Conceptual framework The conceptual framework may be defined as established concepts that underline the financial reporting. The conceptual framework is consistent with the objective of the financial statement. The objective of financial reporting is to provide the user with financial information so that the user of the financial statement can make important financial decisions. The conceptual framework of IASB is incorporated in the Framework for preparation and presentation of financial statement issued by the AASB[3]. The purpose of the conceptual framework is: To assist in the development of accounting standards, To assist in harmonization of regulations, To prepare the financial statement, To provide assistance to the auditor, The Para 5 states the scope of the Framework. The Framework is developed to deals with: Objective of the financial statement; Qualitative characteristic of the statement; Measurement, definition and recognition of different elements of financial statement; Capital maintenance and the concept of capital; Therefore, in this report the framework is classified into three categories for discussing and critically analyzing the effectiveness with which the corporations have adopted this framework[4]. Basic Objective The foundation of the Framework is based on the objectives of the financial reporting. The objective of the General Purpose Financial Statement is to provide financial information so that the user can make informed decision[5]. The users of the financial statement include shareholders, lenders and creditors. The financial statement caters to the informational need of external users that cannot demand information from the company. Therefore, the financial report provided by the company becomes extremely. On analyzing the annual report of BHP Billiton, it can be seen that the report includes Income statement, balance sheet, cash flow and notes to account. Therefore, it can be said that the information provided in the annual report by the BHP Billiton satisfies the basic objective and purpose of conceptual framework[6]. Fundamental Concepts The next classification that is made of the conceptual framework is the fundamental concepts that are related to accounts. The fundamental concept is a bridge between the basic objective and the accounting treatment like recognition, measurement and preparation of financial statement. The fundamental concepts relate to the qualitative characteristic of the financial information[7]. In QC4, it is stated that in order to be useful the financial information should be faithful and relevant. The usefulness of the information provided by the financial statement increases if it is comparable, timely, understandable and verifiable. The relevance and faithfulness are the fundamental qualitative characteristic of the financial statement. The Audit report submitted by KPMG to SEC states that in their opinion it appears that the BHP Billiton has provided financial information in a faithful manner and the information provided are relevant to the users of the financial statement[8]. Therefore, it can be said that annual report provided by the company is in accordance with the fundamental qualitative characteristic of the conceptual framework. The characteristic like verifiability, comparability, timeliness and understandability increases the quality of the financial information. The verifiability of financial information is achieved if the independent methods obtain the same results. In this case, the auditors have independently verified the financial information and they have obtained the same result. Therefore, it can be said that the financial statement has satisfied the characteristics of verifiability. The comparability of financial statement is assured by the application of the accounting standards. In the notes to financial statement, section of the financial report it is stated that the accounting policies are applied consistently thereby ensuring comparability. The financial information is provided in a timely manner on 30 June every year. The understandability of the financial information is increased through detailed presentation of financial information in the notes to accounts[9]. Based on the analysis it can be said that the financial information are presented following the qualitative characteristics of conceptual framework. Basic elements of Financial report The conceptual framework issued by Australian Accounting Standard Board Framework for preparation and presentation of financial statement states in Para 49 that the elements that should be included financial positions are assets, liabilities and equities. On analyzing the Annual report of the BPH Billiton it can be seen that the elements that required by the framework has been followed. The conceptual framework states that assets are the resources that are controlled by the entity[10]. It is expected that the future economic benefit from this resources will flow to the entity. On analyzing, the balance sheet of the company it can be said that the items that are included in assets confirms with the definition of asset provided in conceptual framework. The conceptual framework defines liability as present obligation that arise from a past event and it result in outflow of economic resources. The items in the liability side of the balance sheet of the company fulfill the definition prov ided in the conceptual framework. The conceptual framework defines equity as residual interest in the assets after all the liabilities have been deducted. The equity recorded in balance sheet complies with the definition of conceptual framework. Income Statement Analysis The conceptual framework provides that profit is computed for analyzing the performance of the company. The profit is measured by deducting related expenses from income. Therefore, the company has prepared income statement for calculating the profits. The items that have been included in the revenue are in accordance with the conceptual framework. The conceptual framework states that an item that increases the economic benefit of the company should be included in the revenue[11]. The expenses are those items that decrease the economic resources of the company. The items that are included in the income statement as expenses satisfy the definition provided in the conceptual framework. The income statement of the company is given below: The third classification of the conceptual framework deals with the measurement, recognition and disclosure of the financial information[12]. This are discussed in details below. Recognition Recognition is a process of incorporating the financial items in the income statement and balance sheet as provided in Para 82 of the standard. The financial information are recognized in the financial statement based on five basic assumptions this are economic activity, going concern, monetary units, periodicity and accrual basis. This assumption requires that the entities that are engaged in economic activity are required to recognize those activity in the financial statement. The company is engaged in economic activity therefore the company has satisfied the basic assumption of economic activity. The gong concern assumptions states that the financial information should be recognized in a manner that it is assumed to continue. The financial informations should be measured in terms of monetary units in a periodic manner and by following the accrual basis of accounting. On analyzing, the financial statement of BHP Billiton it can be said that financial information has been recognized following the basic assumptions stated above. Measurement The measurement of financial items is discussed in Para 99 of the standard. The measurement is a process of determining the monetary amount at which the items of financial information are recorded in the financial statement. The measurements of items are done based on various bases that include historical cost, current cost, realizable value and present value. The basis of measurement of few items in the financial statement is discussed below. The inventories are measured at cost or net realizable valued whichever is lower. The debtors included are all current debtor. The company does not have any non-current debtors. The company in its financial report has followed the entire disclosure requirement. The company has followed the disclosure requirement mentioned in accounting standard. Managerial Remuneration and its relation The BHP Billiton has two types of remuneration policy one is for executive directors and other is for non-executive directors. The remuneration provided includes basic salary, pension and benefits. The salary is extending by 8% per annum and the pension is 25% of the salary. The general benefits that are given cannot be more than 10% of the base salary. In addition, other incentives are provided that includes target performance and threshold performance. The target performance can be 160% of the base salary and the threshold limit can be 80% of the base salary. Therefore it can be said that maximum award that manger can get is 240% of base salary. This high remuneration based on target will encourage short-term focus of the management and that is not beneficial to the company. The conceptual framework fails to deal in this matter in any substantial form. Conclusion Based on the above analysis it can be concluded that the conceptual framework play a vital role in the preparation and presentation of financial statement. However, it has failed to deal with the remuneration of the management that have far reaching effect in the financial statement of the company. Reference Casanueva, Cristobal, Angeles Gallego, and Maria Angeles Revilla. 'Access and Mobilization of Network Resources and Competitive Advantage in Hotels: A Conceptual Framework',International Journal of Contemporary Hospitality Management,vol. 27/no. 6, (2015), pp. 1279-1300. Cherry, Michael. 'Accounting for Trust: A Conceptual Model for the Determinants of Trust in the Australian Public Accountant SME Client Relationship',Australasian Accounting, Business and Finance Journal,vol. 10/no. 2, (2016), pp. 3-22. Craig, Russell, Wally Smieliauskas, and Joel Amernic. 'Assessing Conformity with Generally Accepted Accounting Principles using Expert Accounting Witness Evidence and the Conceptual Framework',Australian Accounting Review,vol. 24/no. 3, (2014), pp. 200-206. Espinoza, Manuel A., Andrea Manca, Karl Claxton, et al. 'The Value of Heterogeneity for Cost-Effectiveness Subgroup Analysis: Conceptual Framework and Application',Medical Decision Making,vol. 34/no. 8, (2014), pp. 951-964. Hrisch, Jacob, R. Edward Freeman, and Stefan Schaltegger. 'Applying Stakeholder Theory in Sustainability Management: Links, Similarities, Dissimilarities, and a Conceptual Framework',Organization Environment,vol. 27/no. 4, (2014), pp. 328-346. Kandjani, Hadi, Amir Mohtarami, Mohammad Reza Taghva, et al. 'Classification and Comparison of Strategic Information Systems Planning Methodologies: A Conceptual Framework',International Journal of Enterprise Information Systems (IJEIS),vol. 10/no. 1, (2014), pp. 1-10. Loftus, Janice, Ken Leo, Noel Boys, et al., 'Financial Reporting', Anonymous Translator(First edn, Milton, Qld, John Wiley and Sons Australia Ltd, 2015). Rao, Maheshwar, Robert Tanton, and Yogi Vidyattama. 'Modelling the Economic, Social and Ecological Links in the Murray-Darling Basin: A Conceptual Framework',Australasian Journal of Regional Studies, the,vol. 21/no. 1, (2015), pp. 80-102. Ryan, Christine, Janet Mack, Stuart Tooley, et al. 'Do Not-for-Profits Need their Own Conceptual Framework?: A NFP CONCEPTUAL FRAMEWORK?',Financial Accountability Management,vol. 30/no. 4, (2014), pp. 383-402. Tan, Seck. 'Framework for Valuing the Utilization of the Environment',International Journal of Social Economics,vol. 43/no. 6, (2016), pp. 619-642. Tello, Edward, James Hazelton, and Lorne Cummings. 'Potential Users Perceptions of General Purpose Water Accounting Reports',Accounting, Auditing Accountability Journal,vol. 29/no. 1, (2016), pp. 80-110. Thornton, Daniel B. 'Different Conceptual Accounting Frameworks for Public and Private Enterprises: Commentary on Canada's IFRS Transition and Suggestions for International Empirical Work',Accounting Perspectives,vol. 14/no. 3, (2015), pp. 168-189 Ulziit, Bayarbuyan, Zeeshan Akhtar Warraich, Cigdem Gencel, et al. 'A Conceptual Framework of Challenges and Solutions for Managing Global Software Maintenance',Journal of Software: Evolution and Process,vol. 27/no. 10, (2015), pp. 763-792. Wiedmann, Thomas O., Guangwu Chen, and John Barrett. 'The Concept of City Carbon Maps: A Case Study of Melbourne, Australia',Journal of Industrial Ecology,vol. 20/no. 4, (2016), pp. 676-691.