Comparison Of Buddhism And Taoism Essay -- essays research papers

Taoism and Buddhism were born in the same century. Siddhartha reached enlightenment in approximately 535 B.C. and Lao Tzu’s teachings were recorded around 500 B.C. There are many similarities in the basics of these two religions. Some of the similarities can be seen clearly when examining the three meaning of Tao. The first definition of Tao is "the way of ultimate reality." This means that Tao cannot be percieved, defined, talked about, or thought of. It is too big a concept for humans to comprehend. As in the first line of the Tao Te Ching (the Taoist text meaning The Way and Its Power): "The Tao that can be spoken is not the true Tao." This is very similar to the Buddhist idea of Nirvana or Enlightenment. Nirvana cannot be understood by one who has not attained it. Even when one has reached Nirvana, he cannot describe it to others, but only help others to reach it as well. In its second sense, Tao means "the way of the universe." Tao is something that goes through all beings, all of the earth. It is everywhere, all the time. It is something that flows through everything. This flowing idea links with the idea in Buddhism that Nirvana can be reached by anyone, as long as one is devoted enough and has lost all attachments.Thirdly, one life must be a certain way to work with the Tao: Tao also refers to "the way of human life" as it "meshes" with the universal Tao in its second sense. This fundamental idea of Taoism has m...

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Explain the rationale for the global harmonization of financial reporting and disclosure requirements. -Make the financial statement more comparable across the global market so investors can invest their capital in more efficient comparable. 2. Identify two groups that are exerting pressure for pursuing global harmonization. How do these two groups stand to benefit from harmonization? -Investors are concerned with the reliability and comparability of sinacial statement in countries other than theirs.They favor this because it will help lower cost of investing in countries aboard and enhance the effectiveness of investment decisions. Multinational companies want global harmonization because of the increase in international diversity of manufacturing and sales. The fact that all accounting practices are not compatible means that they devote more resources to prepare and consolidate there financial statements. 3. What are the main obstacles to global accounting harmonization? In your op inion, are these obstacles likely to be overcome in the near future? The main obstacles are due to economics and politics. I think it will be a very slow and hard process to invoke in the near future because of everyone sensitivity and pride of there own countries.The polices would have to come from a super national organization and combine principals of many different countries. 4. What is the role of each of the following supra-national organizations? a. International Accounting Standards Board (IASB) -Developed as a parent entity of the IASB, it is an independent standards setter that assumes accounting standards setting responsibilities from IASC. . International Federation of Accountants (IFAC) -Organizational accounting organization that represents accountants employed in public practices, and the primary activity is to serve public interests and to facilitate cooperation among members. c. International Organization of Securities Commissions (IOSCO) -Known as the international standard setters for securities market, it promote high standards of regulation for sounds markets, and establishes standard and effective surveillance of international securities to name a few objectives. d.Organization for Economic Cooperation and Development (OECD) -â€Å"Rich mans club†, comprised of 30 countries that produce 2/3 of the worlds goods and services in were all countries are committed to a market economy and pluralistic democracy, that provided governments with a setting to discuss, develop, and perfect economic an d social policies. 5. The FASB has described their proposal to transition to IFRS as an â€Å"improve and adopt† approach. What are the two parts of this â€Å"improve and adopt† proposal? Why does the FASB support this approach? First, the â€Å"improve and adopt† plan will require a joint effort by FASB and IASB to develop and improve standards in the areas that will benefit financial statements users universally. Secondly, a gradual approach transition to IFRS will reduce the disruptions that might occur from an abrupt switch. -Third, this approach allows other infrastructures elements to improve and converge while IFRS and improved and mandated. Finally, this approach avoids the added cost and complexity of dealing with two accounting systems. 6.What is the current plan for joint projects between the FASB and IASB? What is your assessment of the reasonableness of this plan? -The current plan between the joint projects is on a modified strategy and a delayed timeline for several of their convergence project extended till the end of 2011. Even thought that are delayed it is said that it will not negatively impact the SEC’s timeline. I think it is a good idea to have a longer period of time to implement these joint projects because it gives the stakeholders more time to express there input. 7.The PWC article identifies eleven (11) joint projects currently underway (i. e. , financial instruments, revenue recognition, leases, etc. ). Select three of these joint projects to consider in depth. For the three projects you have selected: -Financial Instruments- The issues with the financial instruments used to cause an inconsistent way of reporting value, revenue and other forms of financial information’s that could misleading investors. The joint project it to bring off these financial instruments together to make it easier to understand.To bring convergence there is a need for multiple new a more useful approaches like, recognizing losses earlier and recognizing credit impairments when not thought to collect. -Revenue recognition- Revenue recognition currently recognizes revenue when the customer signs into an agreement and values the price of fulfillment as being a fixed value. The new joint project would require the recognition of a contract come after the contract is fulfilled and not be able to keep the value as fixed.Another important aspect of the proposal is to est ablish principles to promote comparability among similar contracts. -Leases- -Consolidation- Under the ne joint projects, many of the companies will still be able to consider certain investment companies under the U. S. GAAP are likely to continue to meet qualifications under the new definition, but some may not. The one major change will be defining if the company has control over the investment company and how that will be determined. a. Provide a brief overview of the issue. b. Explain why it is important. c.Describe what needs to be done to bring about convergence. 8. The authors of the last article, Paul Miller and Paul Bahnson, are not proponents of international uniformity of accounting standards. Identify three reasons they are against it (they provide more than three). Do you agree? -He believes that uniformity is not comparable, it kills innovation, and doesn’t believe IFRS is uniformed. I do agree with him in some aspects because uniformity across a global market, while a very noble goal, is almost impossible to achieve and could result in so many problems.

Essay on Thomas Jeffersons Contribution to the Constitution

Thomas Jeffersons Contribution to the Constitution The purpose of this paper is to give a brief chronological accounting of the writing of the Declaration of Independence by Thomas Jefferson. A short description of the structure of the Declaration of Independence will be included. The process was relatively fast, from the formation of the committee. The committee consisted of two New England men, John Adams of Massachusetts and Roger Sherman of Connecticut; two men from the Middle Colonies, Benjamin Franklin of Pennsylvania and Robert R. Livingston of New York; and one southerner, Thomas Jefferson of Virginia. In early June, the committee met as a whole and unanimously insisted that Jefferson draw up the declaration. Jefferson†¦show more content†¦. . evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. The first section of the body of the Declaration gives evidence of the long train of abuses and usurpations flooded upon the colonists by King George III. The second section of the body states that the colonists had appealed in vain to their British brethren for a redress of their grievances. Having stated the conditions that made independence necessary and having shown that those conditions exi sted in British North America, the Declaration concludes that these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved. Although Congress had adopted the Declaration submitted by the Committee of Five, the committees task was not yet completed. Congress had also directed that the committee supervise the printing of the adopted document. The first printed copies of the Declaration of Independence were turned out from the shop of John Dunlap, official printer to the Congress. After the Declaration had been adopted, the committee brought Dunlap the manuscript document, possiblyShow MoreRelatedGeorge Washington and Thomas Jefferson Contribution to Stable Government724 Words   |  3 PagesRevolutionary Contributions to Stable Government George Washington and Thomas Jefferson were two important presidents who had an enormous affect on our nation’s stable government and beginning years of our country. Each made their unique contributions to a new government under the Constitution after the failed adoption of the Articles of Confederation. 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