Monday, December 30, 2019

Voluntary Euthanasia Or Assisted Suicide - 983 Words

A topic that has been around for a while is voluntary euthanasia or assisted suicide. Our book states that â€Å"a person who is virtually certain to die within a given amount of time and is experiencing or will experience a lot of pain before he or she dies should be able to choose an earlier, les painful death (Mosser, 2013). There are reasons that arise or illnesses that occur that should be reason enough for a person to choose if they want to continue to suffer through the illness or the pain or if they should instead be able to decide if they wish to continue this unhappy existence that they are faced with. Everyone should have a right to end their life when they see fit, especially if they are suffering or perhaps they feel that those around them are suffering because of seeing the pain they are going through. This brings us to the utilitarian few of the world and how sometimes assisted suicide or voluntary euthanasia can be associated with utilitarianism and the view th at actions should be done for the greater good or the good of many. When looking at the pain that someone else’s pain can cause to others, the best course of action could be to allow the assisted suicide to occur. Others would think that any sort of assisted suicide it’s not an acceptable course because we are taught that no one should take the life of another because it is morally wrong. Utilitarianism is an â€Å"ethical theory that evaluates the morality of an act or rule on terms of its consequences,Show MoreRelatedAssisted Suicide Or Voluntary Euthanasia1864 Words   |  8 Pages TITLE Assisted Suicide or Voluntary Euthanasia is when a patient with a terminal illness request to end their life by taking a lethal injection or a prescribed medication with the help of a medical professional. In the United States each state has the choice on whether or not it is illegal to perform the task of assisted suicide. Out of all fifty states there are only five with a legal method for assisted suicide. In Vermont, Washington, California and OregonRead MoreAssisted Suicide And Voluntary Active Euthanasia Essay1345 Words   |  6 Pagesphysician assisted suicide and voluntary active euthanasia. Physician assisted suicide is when the patient is prescribed lethal medicine by the doctor to commit suicide. Meanwhile, voluntary active euthanasia is when a physician takes an active role in the act of killing the patient. There is often debate on whether or not any of these actions should be legalized in all states. Physician assisted suicide is legal in Oregon, California, Montana, V ermont, and Washington. Voluntary active euthanasia is illegalRead MorePhysician Assisted Suicide And Voluntary Euthanasia1348 Words   |  6 PagesPhysician-assisted suicide and voluntary euthanasia is still under scrutiny for a number of reasons. â€Å"In spring, 1996, the Ninth and Second Circuits were the first circuit courts in the country to find a constitutional prohibition against laws which make physician-assisted suicide a crime† (Martyn Bourguignon, 1997). New York was one of the states that followed this prohibition. Eventually, The Ninth and Second Circuit, â€Å"allow physician-assisted suicide while attempting to protect individuals fromRead MoreAssisted Suicide And Voluntary Active Euthanasia Essay1270 Words   |  6 Pagesphysician assisted suicide and voluntary active euthanasia. Physician assisted suicide is when the patient is prescribed lethal medicine by the doctor to commit suicide. While, voluntary active euthanasia is when a physician takes an act ive role in the action of killing the patient. There is often debate on whether or not any of these actions should be legalized in all states. Physician assisted suicide is legal in Oregon, California, Montana, Vermont, and Washington. Voluntary active euthanasia is illegalRead MoreEuthanasi Voluntary Active Euthanasia, Passive Euthanasia And Physician Assisted Suicide1143 Words   |  5 PagesAmerican Heritage Dictionary euthanasia is defined as the art or practice of ending the life of a person or animal having a terminal illness or a medical condition that causes suffering. Euthanasia should be a individual choice to end a patient s life. This keeps them from going through excruciating pain due to an incurable disease. Some people think euthanasia should be out of the picture while others inquiry the effectiveness of these actions. With effectiveness, euthanasia is classified in threeRead MoreAmerica Needs Voluntary Euthanasia and Assisted Suicide Essay1081 Words   |  5 Page shear the word suicide it invokes controversy. Although it is a taboo subject; if a loved one was faced with a terminal illness becoming extremely critical this would pose a moral question. Could a person be willing to accept the fact their family member intended to use medical assisted suicide? Very few individuals would agree with this, but in the same instance should a human being want their relative to be in unbearable pain? According to the author, â€Å"Indeed, physician-assisted suicide implies notRead MorePhysician Assisted Suicide And Voluntary Euthanasia, Legitimacy And Legality1352 Words   |  6 Pages Physician Assisted Suicide and Voluntary Euthanasia, Legitimacy and Legality Isaac Roer Saginaw Valley State University Abstract This paper discusses why the U.S. should implement the availability of physician assisted suicide/death and voluntary euthanasia. It discusses countries that have this legally, how they do not abuse the fact, and the percentages of both physicians and patients that are affiliated with PAS/VE. It continues with the legal moral issues it has within the UnitedRead MorePhysician Assisted Suicide And Euthanasia Essay1039 Words   |  5 PagesPhysician Assisted Suicide Is physician assisted suicide ethical? Physician assisted suicide is an up and coming ethical question that examines a person’s right to their own death. Many people support physician assisted suicide, citing that it can save a lot of pain and suffering. Others claim that the concept of physician assisted suicide is a slippery slope. A slippery slope in the sense that if society accepts euthanasia as a rightful death for the terminally ill, they will potentially acceptRead MoreThe Centers For Disease Control And Prevention Released1181 Words   |  5 PagesDisease Control and Prevention released a suicide report in 2015 stating that in The United States, suicide is the 10th leading cause of deaths. As many as 44,193 individuals have died per year, which means there is about 123 suicide deaths a day happening as of now in The United States (â€Å"Suicide Statistics†). This is only the statistics of deaths that have been successful in The United States, it is not countin g all suicide deaths around the world nor suicide attempts. This alone is already a majorRead MoreShould Euthanasia Be Legalized?1536 Words   |  7 PagesLegalizing Murder â€Å"Euthanasia, also [known as] mercy killing, [is the] practice of ending another’s life with the aim of enabling the person to avoid severe suffering, typically from a terminal illness† (â€Å"Euthanasia†). Furthermore, a study conducted in Washington State revealed that most of the participants who requested euthanasia had the diagnosis of cancer, neurological disease, or acquired immunodeficiency syndrome (Back et al. 919). This study also uncovered that â€Å"the patient concerns most

Sunday, December 22, 2019

Coca-Cola International Business Strategy for Globalization

International Trade Academic Research Conference (ITARC ), 7 – 8th November, 2012, London.UK. COCA-COLA: International Business Strategy for Globalization Michael Ba Banutu-Gomez William G. Rohrer College of Business, Rowan University, USA Key Words International Differentiation Strategy, Global Strategy, International Marketing Strategy, Culture in International Marketing Strategy, Coca-Cola Strategy, International Distribution Strategy, Choosing Distributors and Channels, The Challenge of Distribution, Hidden Costs And Gains In Distribution, International Collaborative Strategy, International Labor Relations and Management Strategy, and International Diversification Strategy. Abstract The purpose of this research was to analysis the†¦show more content†¦It also may be referred to as segmentation strategy. Using this strategy, a manufacturer will introduce different varieties of the same basic product under the same name into a particular product category and thus cover the range of products available in that category. There are several ways a firm can differentiate its’ products. We focused on two aspects of this; branding and cost leadership. The American Marketing Association defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. The objectives of successful branding include; delivering the message clearly, confirming your company’s credibility, connecting to your target prospects emotionally, motivating the buyer, and establishing user loyalty. For example, a soda company that offe rs a regular soda, a diet soda, a decaffeinated soda, and a diet-decaffeinated soda all under the same brand name is using a differentiation strategy. Each type of soda is directed at a different segment of the soda market, and the full line of products available will help to establish the companys name in the soda category (Lake, 2010). Another aspect of the differentiation strategy is cost leadership. With this strategy, theShow MoreRelatedGlobalization Promoted The Development Of Productive Forces1037 Words   |  5 PagesGlobalization promoted the development of productive forces. â€Å"Globalization may be defined as the integration of the world s people, firms and government. In the modern context, globalization is usually the result of closer ties in international trade, known as bilateral trade agreements. The WTO and NAFTA are two examples of such bilateral trade agreements. With such agreements, cross-country investment increases. This increase in investment is aided by the increase in information technology andRead MoreThe Influences of Globalization Essay1397 Words   |  6 Pages The influences of globalization can be felt in every city around the world. Technology has enabled individuals as well as organizations the ability to immerse themselves into another culture virtually at the speed of light. Understanding of different societies and cultures has become one of the leading processes of business. Primarily there has been a greater focus on understanding the various cultures because of its ability to affect business on a global scale. Nevertheless, organization suchRead MoreGlobalisation and the Coca-Cola Company1379 Words   |  6 PagesGlobalization and the Coca-Cola Company Introduction Today, Coca-Cola is one of most well-known brands in the world. This company has continued to gain momentum and growth, capitalizing on the rapidly expanding beverage industry and ranking as the largest beverage company in the world. With its push for global market share, Coca-Cola now operates in over 200 countries with over 84,000 suppliers. Currently, over 70% of Coca Cola’s business income is generated from non-US sources (Coca-ColaRead MoreCoca-Colas Business Strategies1548 Words   |  6 Pagesï » ¿Introduction: The Coca-Cola Company The Coca-Cola Company is the worlds leading manufacturer and distributor of a wide range of beverage products. It is an American based multinational corporation that manufactures, distributes, and promotes soft drinks, fruit juices, energy and sports drinks, yogurt drinks, mineral water, coffee, tea, and soy-based beverages. Founded in 1886, the Coca-Cola Company currently offers almost 3,500 products under 500 brand labels. The most famous products of theRead MoreMarketing Analysis : International Marketing1340 Words   |  6 Pagesfaster communication high end technology ,improved transport system are making international market more approachable. When businesses looking for global position then hunger give them brand awareness and cost effectiveness. The main process of international marketing is start from the domestic marketing to international marketing and after that try to reach global marketing. Global marketing always refers to the globalization. When its about identical product standardization is important which meansRead MoreCoca Col The Largest Beverage Company1624 Words   |  7 PagesCoca-Cola has capitalized on the rapidly expanding beverage industry in the United States and has successfully infiltrated the gobal market where 70% of its revenue is reported. This journey into globalization has the company viewed as the largest beverage company in the world. In 2011, Business Insider reported that 3.1% of beverages consumed around the world is a product of Coca-Cola and/or its subsidaries. Currently, Coca-Cola operating segements are North America, Latin America, Europe, AfricaRead MoreThe Principles Of Global Marketing1632 Words   |  7 Pagesmarketing, which is a theory about the worldwide merchandising strategy, establishes the basement of marketing. As globalization is combined with diverse cultures from the whole world, costumers have different demands which have to achieve by businesses. In addition, the strateg y of global marketing is necessary for companies to develop new markets. This assignment will firstly explain what global marketing is. After that, it will confer strategy of global marketing in 4Ps (product, price, place, promotion)Read MoreThe Globalization Of A Multinational Corporation1725 Words   |  7 Pagescorporation is a corporation that does business in two or more countries. It has its home base in its own country, but has branches or subsidiaries in other countries. Their home base is the company’s identity. For example Toyota is Japanese even though it operates in the United States. With modern technology and improvement in communications, transportation and infrastructure, corporations are venturing beyond national boundaries in the pursuit of business opportunities. Their size provides themRead MoreCoca Col Strategic Expansion Of Businesses2291 Words   |  10 Pages UNGC Coca-Cola Stephany Kim shstephk@gmail.com N/A N/A UNGC: Strategic Expansion of Businesses Country’s Relationship/History to the Topic: In 1886, Dr. John S. Pemberton and his partner Frank M. Robinson created a distinctive tasting soft drink that shortly became known as â€Å"Coca-Cola.† The new beverage quickly spread throughout Atlanta, Georgia, under the leadership of businessman Asa G. Chandler (â€Å"Coca-Cola History†). At the turn of the century, Coca-Cola started expanding throughout the countryRead MoreMarketing Strategy Of Coca Cola1664 Words   |  7 PagesMarketing Strategy comprises of many components which are associated with each other and incorporate a company s publicising goals. Coca-Cola is a foremost example for successful marketing brand that is known and adored all over the world. The origin of a strong Marketing Strategy consists of a proper analysis, exploring all important factors which are required to achieve a desired target. I explore my knowledge of interest to know the effectiveness of the strategies used by a coca cola company to

Saturday, December 14, 2019

My Past, Present, and Future Free Essays

Hard life does not equal reason for failure, but reason for determination. Even though it may seem with so much bad you are bound to fail, with all of my bad I’m bound to succeed. I have been through a lot in life, just as every single mother but I still have what it takes for my future success. We will write a custom essay sample on My Past, Present, and Future or any similar topic only for you Order Now Do you have what it takes for a brighter future? The first reason I believe hard times give you determination, is because I had a hard childhood growing up. Beginning with my father abusing my mother and he was never around, a mother who was struggling to figure out who she was and what she wanted in life, and how to take care of a teenager with so many bad experiences. My father was murdered in front of me and passed in my arms when I was seven years old. My only father figures I had left were my brothers who for their own reasons couldn’t be around much. I turned to alcohol at a young age thinking it would make my life better. I felt as if I was alone. I didn’t know I had people that would be there for me. All I knew was my immediate family and my friends, which were not good influences. My mother had turned to alcohol as well and I was always home alone or with my uncle John. I never wanted to go to school; however, my uncle encouraged me to do so. I continued to attend school and did the best I thought I could. I got into skating thanks to my uncle and that is how I got rid of my stress if I had it. Uncle John always took me and my friends to the skating rink to enjoy time, just as a young child should. It made things better for me for awhile I had my father figure back again, but still needed my mom. I was lost and had no guidance; so much had happened to me at such a young age and that affected my life because I believe no matter what happens you can’t erase your bad memories. My beliefs are stated by Sigmund Freud, he said â€Å"The world as we know it is stored in our conscious mind† (Witt Mossler, 2010, Ch. 2, Pg. 2). Additionally, at age fifteen I was involved in a car accident that everyone including myself thought it ended my life. I was pronounced dead on scene yet revived. I was hospitalized for over a week and had to go though therapy to learn how to walk again. My brain wasn’t coordinating with my legs. I broke five ribs, my lung collapsed, crushed my heel, burned my back, my scalp was avulsed, broken nose, and in general shaken up. I woke up to a paramedic by my side coaching me through my breathing and having faith in my ability to overcome anything. It just so happened with me living in a small town that paramedic was my best friend’s father, Gene Deck. That’s when I got my mom back, and to this day she is always there for me and is my best friend. During that time I had also lost my brother who meant the world to me. He was my role model and was everything to me. I would wait for him every day on the porch to arrive from work. He had been though a lot himself and had went to prison for a few years. He got out of prison and started his life over working in the oil fields, I still remember his smell. It was that time of year for our family reunion, we went camping every year. I remember waking up to his face at five in the morning and him asking me to go on the boat with him to check the trout lines, me at my age was upset about being woke up that early. I pulled the blankets over my head and said â€Å"go away and leave me alone bubba†. Those were my last words to him, which is why I strongly believe you should make sure your words to your loved ones are that from the heart. He had gone out on the boat and it had a hole in it, my brother didn’t know how to swim. They found him late that night after searching all day at the bottom of the river tangled in seaweed. With all those experiences, I knew what I wanted to do as an adult, save lives. So I took it upon myself to try and get my life together and do what was right. I had several inspirations for saving lives, from my life being saved to maybe I could have saved my brothers. I had so much encouragement in my heart now to move forward with my career choice in the future. For now, it was time to focus on finishing high school and being a good daughter so that my mom wouldn’t have to go through anymore pain. I focused on school and promised myself no matter what happened in life I would return the favor given to me from the man upstairs, with a second chance given to me I would help saving lives. It is thanks to God that I am alive today, and for the rest of my life I will thank him every day. I may not be one of those people who go to church every day, but I do know my life is held in the hands of a man that I owe my life to. At age seventeen I ended up being getting in another relationship that I thought would last forever and we decided to have a child. I ended up having too many medical problems and had to drop out of school. I was determined to keep my promise. I set out to get my G. E. D and started running with the Emergency Medical Service in my town as a rider. I then became part of the EMS family as a driver. They paid to put me through school to become an Emergency Medical Technician. I decided that wasn’t enough and started school with a technical school to become a National Registered Certified Medical Assistant. My first born son gave me more inspiration to better myself in life. He was the reason of my existence and the reason I to this day work very hard at everything I do to succeed in life. I named him after my brother that had passed, Keith. I now have four beautiful boys, still have my two certifications, and now attending college working towards a degree. Every day I remember lucky I am to be here and how much I have to be thankful for in life. My fiance Sean is another one of my inspirations. He stays on my case constantly about school and making sure I do what is right. I have everything I need in life to be inspired and achieve my life term goals. I believe that you need three things in life to achieve your goals, a belief system, persistence, and patience. Several things can happen to you in life. It’s a matter of how you overcome what has happened and how you move forward. Although, you may want to just give up and feel you have been through enough in life and you don’t want to put yourself through any more. You need to reconsider, because that is just your way of â€Å"justifying your thoughts or behavior†, called rationalization which is a type of defense mechanism from Sigmund Freud’s psychoanalytic theory (Witt Mossler, 2010, Ch. 2, Pg. 2). Make sure you stay focused on your goal or goals and what lies ahead of you. Always look toward the future and never look back, you will always remember but let it be a lesson learned in life, and the strength you need to move forward. There is nothing better in life than looking back on all you have been through, and then looking at what you have to this day. The best thing is looking at what lies ahead of you and your future of success! Indeed, while some may say a bad past can get the best of you, it’s important to stay focused and determined. I will continue to move forward with my education and become successful. Just remember one thing; you are in control of your life, your attitude, and your actions. You can’t change your past, but, you can change your future! How to cite My Past, Present, and Future, Essay examples

Friday, December 6, 2019

Financial Crisis and Fair Value Accounting

Question: Describe about the Financial Crisis and Fair Value Accounting? Answer: Introduction In 2007-2008 the global economic downturn has emphasized on the role of financial accounting in leading to the financial crisis across the world. Several economist and financial analysis have scrutinized the global financial crisis and expressed significant concern regarding the financial standard, especially the Fair Value Accounting (FVA) which is used as a reporting instrument for the financial organizations. Various studies have demonstrated that Fair Value Accounting is one of the major triggering factors for the global financial crisis. On the other hand, some paper has significantly defended fair value accounting system through highlighting its advantages. Following fair value approach in preparation of financial statements has been a long debated topic in the past few years (Badertscher, Burks and Easton, 2012). Though fair value accounting has several merits, it has been subject to severe criticism in the post global financial crisis era. Several financial institutions have alleged that fair value accounting has played a significant role in leading to the credit crunch. This paper will focus on analyzing the influence of fair value accounting on the global financial crisis through reviewing wide range of literature. Additionally, this paper will also illustrate the advantages as well as disadvantages of the fair value accounting practice. Debate regarding the Role of FVA in Financial Crisis In context of the financial crisis of 2007-2008 and credit crunch, a significant debate on the strengths and disadvantages of the fair value accounting was arisen. The international economy was affected by the severe crisis which was amplified by the significant down fall of the financial markets of the developed countries. In 2007, financial shock was propagated due to the bankruptcy of the mortgage market as the subprime mortgage market of United States was collapsed severely. Prior to the financial crisis, banks had built up huge holdings of the subprime securities as well as mortgages. The financial analysts have concluded that those securities was overestimated as the banks along with the rating organizations have significantly undervalued the level of defaults associated with these securities and mortgages. Additionally, it was observed that the financial institutions had piled up significant exposure to the risky credit and subprime instruments. In 2007- 2008, the prices of th e securities associated to the mortgages gone down significantly. Therefore, the financial institution had to decline their value of assets linked to the subprime mortgages (Barth and Landsman, 2010). During the economic downturn, the value of the financial instruments declined and the firms were forced to sell the securities which made the market more risky and illiquid. Consequently, the financial instruments which were valued at fair value were sold below the fundamental or theoretical value for meeting the requirements of the capital market which led to further drop in the market prices. At this point of time bank had to sell the assets for maintain the required solvency ratio. The financial statements prepared by following the fair value accounting had led to significant uncertainty for the investors and their confidence had declined resulted in further price fall and financial instability. It has been identified that real estate bubble is the major reason behind financial crisis (Benston, 2008). Apart from this, it has been argued that emergence of fair value accounting has led to the financial crisis. The major challenge is to analyze whether introduction of fair value acco unting has significant correlation with the financial crisis or it just coincided with the global financial crisis. According to Laux and Leuz (2010), fair value is one of the major factors for the international economic contraction during 2007 -2008. Additionally, Barth and Landsman (2010) had also expressed the similar idea by accusing fair value accounting as one of key factors for the credit crunch. Some economists and financial analysts have stated that fair value accounting had significantly intensified the negative impact of the financial crisis as it has excessively contributed in leveraging during the boom period. Various studies have partly blamed the adoption of fair value accounting for the credit crisis in US which transformed into the global financial crisis. According to Foster and Shastri (2010), fair value accounting system was adopted by the financial institutions for measuring the assets and liabilities at fair value which has greater relevance in the decision making as reporting of the historical cost may seem irrelevant in most of the time. It has been found that the level of transparency was enhanced by adoption of the fair value accounting (Krumwiede, 2008). However, fair value accounting had received significant criticism from the economists and financial experts. Various studies have depicted that evaluation of most of the assets and liabilities at the fair value when the market was highly volatile led to erroneous valuation. This estimation was used for reporting in the financial statements which was not reliable for the investors. According to Dietrich et al. (2001), fair value has significantly improved the transparency and increased the relevance of the financial statements but it has failed to meet the requirements of reliability criteria. Fair value accounting has declined the level of consistency through distorting the view of the investors regarding the stability and financial performance (Bischof, Daske and Sextroh, 2014). According to Penman (2007), fair value accounting system was accused for integrating the price bubble of the real estate market into the financial statement which influenced the financial institutions for responding to the changes in the market in an abnormal manner. Consequently, fair value accounting significantly contributed in worsening the financial crisis of 2007 2008 (Foster and Shastri, 2010). This is the major reason behind the debated role of fair value accounting in the international financial crisis which was transmitted across the world. According to Trussel and Rose (2009), it will not be possible to deny the fact that fair value accounting practice had led to some issues in the complicated market context. As fair value accounting significantly focused on assigning high level of relevance to the financial information presented in the financial statements of the firms which has assisted in amplification of the economic cycle which contributed to additional volatility of the financial report. Critics have argued that when fair value accounting is applied in case of the illiquid securities, it fails as fair value focuses on both bust and boom which magnified the value of the balance sheets of the banks at the top of cycle (Goncharov and van Triest, 2011). On the other hand, declines those by the same estimate at the bottom. The pro-cyclicality criticism of fair value accounting during the global financial crisis had received highest attention. According to the fair value accounting standard, the entities are allowed to estimate specific liability as well as asset at the fair value at the date of reporting. The changes in the fair value are recognized in terms of loss or gain in the income statement. IASB and FASB have already defined fair value as the amount at which the asset can be exchanged or the liability can be settled. Hence, fair value allows ascertaining the value which can be obtained from the open market transaction. Consequently, market prices have been used instead of historical cost for determining the fair value. Though the accounting professionals have recognized the relevance of the fair value accounting, it has been argued that fair value estimation had played significant role in accelerating the financial. Especially, the banking sector was highly affected by the fair value estimation . The financial institutions have told that during the financial downturn, fair value accounting had forced the companies to recognize the losses which led to the sale of assets. Consequently, the economic position was further degraded. According to the President of the American Bankers Association, there are various factors which triggered the financial crisis and the fair value accounting is responsible for exacerbating the issues during the downturn (American Bankers Association, 2009). Additionally, it as has been argued that the fare value accounting for the financial instruments in the banks have led to extensive credit expansion. FVA has contributed in the excessive leverage in the boom market as well as write down of the asset was overestimated at the time of bust. According to Wallison (2008), fair value is the major factor for accelerating the financial turmoil due to the overestimation of the financial instruments which misguided the investors as well as forced the banks to sell their assets (Rashad Abdel-Khalik, 2010). On the other hand, some economists and the financial analysts have argued that fair value accounting has no direct association with the financial crisis. According to Barth and Landsman (2010), the perceived pro-cyclicality of fair value accounting is not responsible for enhancing the severity of the financial crisis of 2007 - 2008. It has been argued that it only holds in case of bank asset or in the case where fair value is applied at the time of determining impairment. It has been observed that most of the bank holding companies asset is not carried at the fair value in the financial statement (Paolucci and Menicucci, 2014). Additionally, when fair value accounting is applied, the model completely differs from the pure mark to the market accounting. According the studies undertaken by Shaffer (2010) and Laux and Leuz (2010), fair value accounting cannot be blamed for the global financial crisis. The studied shave demonstrated that the insignificant evidence is found for supporting the fact that fair value accounting forced the banks to write own their assets. On the other hand, International Monetary Fund (2008), has agreed on the fact that fair value accounting approach make the impacts of economic volatility on the balance sheet but it has been also found that under specific risk management framework, air value account has the potential to intensify the cyclical movements in the values of asset and liability. Apart from the concerns regarding the measurements difficulties, risk along with pro-cyclicality, FVA provides a measure which best reflects the present condition of a financial institution. Scrutinizing the literatures it can be found various studies have identified that fair value accounting played a significant role in amplifying the negative impact on the financial market at the time of economic downturn. Some researchers and economist have argued that fair value accounting has accelerated the financial crisis and significantly contributed in closing the ferocious circle of the asset fire sales. In contrast, some economists have argued that international financial crisis was led by the poor risk management practice and wrong credit grant decisions made by the financial institutions. Hence, the fair value accounting does not play a major role in enhancing the impact of financial crisis. During the economic downturn, fair value accounting has focused on reflecting the market condition in the balance sheet of the financial institution (Paolucci and Menicucci, 2014). From the wide range of literature, it can be found that the fair value accounting cannot be considered as the main reason behind the financial instability. Benefits of Fair Value Accounting Fair value accounting provides lot of advantages by considering the market value and enhancing the relevance of the information. Principle benefits of fair value accounting in relation to enhancing the quality of financial information are provided in this section: Accuracy and Transparency In fair value accounting, the financial information is presented considering the present market value instead of the historical cost. One of the major objectives of fair value accounting is to provide accurate information to the stakeholders (Okamoto, 2014). The internal control procedure of the organization must focus on reflecting actual market condition. Thus, adoption of fair value leads to estimation of the asset and liabilities in the current market and reporting those in the financial statement. Different valuation models are used for estimation of the asset and liabilities of the organization which ensures accurate and transparent information (Magnan, 2009). Enhanced Relevance It has been found that use of the present market value in reporting the assets and liabilities help in enhancing the relevance of the financial information presented in the balance sheet. In case of historical accounting the assets and liabilities are reported at the value of the acquiring date. Adoption of fair value accounting has enabled the organization to compare the assets and liabilities in different time period as those are valued at current price (Khurana and Kim, 2003). True Income Fair value accounting has limited the capability of the company in manipulating the net income presented in the financial statement. It has been observed that sometimes, the management purposely facilitate sale of assets to enhance or decline the net gain from the gain or loss from the sale proceeds. Drawbacks of Fair Value Accounting Though fair value accounting significantly contribute in enhancing the transparency and relevance of the financial information, it has some limitations. It has been observed that fair value accounting worsen the impact of economic downturn (Lilien, Sarath and Schrader, 2013). Analyzing wide range of literature some major disadvantages of fair value accounting has been identified and those will be discussed in this section. Value Reversal It has been observed that fair value accounting poses challenge to the organization as the market condition is reflected in the financial information. It has been observed that the market may become highly volatile and adoption of fair value accounting leads to reevaluation of the assets and liabilities in thee volatile condition. Consequently, significant swings in the value of the assets and liabilities are observed. However, in the stabilized market, the value of the assets and liabilities get back to the normal level. Thus, temporary loss and gain is reported which often mislead the investors (Kusano, n.d.). Market Effect Various studies have depicted that use of fair value accounting can significantly affect the market at the time of economic downturn. At the time of global financial crisis, the value of the assets were re-estimated and as it considered the current market condition, the value of the assets were estimated to be very low (Liao et al., 2013). Additionally, it is evident that the lower value of asset forced the organization to sell assets. This results further devaluation of assets and thus fair value accounting significantly contribute in worsening the impact of economic downturn (LaCalamito, 2013). Conclusion: This paper has provided an insight to the perspective of different economists and financial analysts regarding the role of fair value accounting practice in the global financial crisis 2007- 2008. It has been observed that various researcher have argued that fair value accounting reflected the economic downturn in the financial information which has devaluated the asset and forced the banks to sell assets so that the solvency requirement is met. Consequently it led to further financial instability across the world. Thus, fair value accounting has amplified the negative impact of financial crisis. On the other hand, some economists have argued that the global financial crisis was triggered by the poor risk management structure along with the wrong credit grant decision making. Hence, fair value accounting has no direct association with the global financial crisis. This paper has also discussed the major benefits of FVA such as improved accuracy, transparency and relevance. Moreover, f air value accounting does not allow the organization to manipulate the net income. In contrast, the drawbacks of the fair value accounting have been observed which destabilizes the market due to reflection of the market situation at the time of economic downturn. References American Bankers Association (2009). Fair Value and Mark to Market Accounting. Retrieved from:https://www.aba.com/Issues/Issues_FairValue.html Badertscher, B., Burks, J. and Easton, P. (2012). A Convenient Scapegoat: Fair Value Accounting by Commercial Banks during the Financial Crisis.The Accounting Review, 87(1), pp.59-90. Barth, M. and Landsman, W. (2010). How did Financial Reporting Contribute to the Financial Crisis?.European Accounting Review, 19(3), pp.399-423. Barth, M. E. Landsman, W. R. (2010). How did Financial Reporting Contribute to the Financial crisis?, European Accounting Review, 19(3), 399-423. doi: 10.1080/09638180.2010.498619 Benston, G. (2008). 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