Review Of Literature Types Of Salt - 1674 Words

Review of Literature Types of salt: Iodized table salt: This is the most type of salt used in homes and kitchens. It is called â€Å"Iodized† because today, most salt manufacturers fortify the salt with mineral Iodine. It is an essential mineral for fighting off certain Iodine-related diseases like hypothyroidism. There’s also another natural way to get this important mineral into someone’s system by eating more seaweed, which is rich in Iodine. Sea Salt: Made from evaporated water in the sea. Their are larger and coarser crystals of salt then Iodized table salt. Sea salt originated from Brittany, France. Sea salt is also 2,000 years old and it is foreign. Kosher Salt: Kosher salt dissolves really fast. This is the type of salt that most chefs use. It is found from the sea or the earth. Brands like Morton and Diamond crystal sells this type of salt. Kosher salt got its name because the crystals make it perfect for curing meat. You can buy Kosher salt in any local supermarket. Crystalline sea salt: Good for using in foods like a fresh salad, salmon fillet, etc. Its origin are the coasts from Portugal to Maine. The texture of the Crystalline sea salt is fine. It also varies in color depending on the minerals it contains. This type of salt can be bought online. It’ll be about $2-$15 depending on how many pounds someone orders. Flaked sea salt: Good for bringing a complex flavor to steamed vegetables or shellfish. Crushing this type of salt between the fingers and letting itShow MoreRelatedAsdsadsd1327 Words   |  6 Pages2.0 Review of Related Literature Reviews of Related Literature and Studies this includes the ideas, generalization or conclusions, methodologies and others. Those that were included in this chapter helps in familiarizing information that are relevant and similar to the present study. Foreign Literature They develop the system entitled eBarCloud. It’s an inventory management software enables you to perform web-based inventory management and cloud inventory control. It makes it easy to gather dataRead MoreCoastal Erosion Of Coastal Vegetation Depending On Their Salinity Tolerance885 Words   |  4 Pagesthat sustain in a highly saline environment are termed as halophytes, including mangroves, which tolerate salinity but perhaps do not require salt to perform their physiological activities. Mangroves are an important type of marine halophytes, which are influenced by salinity throughout their lives but manage to thrive in spite of difficulties. There are two types of halophytes: facultative halophytes and obligate halophytes. Facultative halophytes can sustain in fresh water but grow rapidly with theRead MoreReactive Chromatography ( Rc )1095 Words   |  5 PagesChapter 2 2 Literature review 2 Introduction 2 2.1. Reactive Separation Techniques 3 2.1.1. Reactive Chromatography (RC) 4 2.1.1.1. Principal 5 2.1.1.2. Adsorbent 6 2.1.1.3. Solvent 6 2.1.1.4. Esterification Reaction 7 2.1.2. Reactive Extraction (RE) 7 2.1.2.1. Extractant 8 2.1.2.2. Reaction Product Properties 9 2.1.3. Reactive Distillation (RD) 10 References 13 Chapter 2 Literature review 2.1. Introduction Carboxylic acids (Lactic, propionic, caproic, acetic, picolinic etc.) are chemicalsRead MoreWgu Natural Science1663 Words   |  7 Pages------------------------------------------------- Objective The objective of this experiment is to test the melting point of ice against different variables. I will use a control of ice against air and test this next to ice in water, sugar on ice, salt on ice and Baking Soda on ice. By measuring the melting time of each element on an ice cube I will be able to tell which element affects ice’s melting properties at what rate. Everyday we use chemical mixtures to melt ice that affects our roadwaysRead MoreRoad Safety During the Winter Season1361 Words   |  5 Pagesand Ice operations: Common Chemicals Use Advantages Disadvantages Rock Salt (Sodium Chloride) Chemical used to either break the bond of ice to the pavement or used to prevent it from forming by lowering the freezing point of water. Inexpensive. Very effective. Readily available. Impact on the Environment. Corrosivity. Doesnt work at low temperatures. Sand Used only in Reduced Salt Zones and at very low temperatures when Rock Salt will not work effectively. Inexpensive. Works at low temperatures. AvailableRead MoreTypes Of Hypertension And Secondary Hypertension1434 Words   |  6 Pagesexpected to keep rising further increasing the risk for millions in developing cardiovascular disease. There are two main types of hypertension. Secondary hypertension is caused from an underlying disease in the adrenal or renal systems or by use of certain medications. It is resolved when the cause is treated or removed. Primary or essential hypertension is the most common type with the cause being unclear although the incidence is higher with age and weight. Pathophysiology The amount of bloodRead MoreTypes Of Integrated Pest Management Programs Against Cotton1198 Words   |  5 PagesThe spiny bollworm, E. insulana and the pink bollworm, P. gossypiella are the most serious pest’s infested cotton in Egypt. The reduction in cotton yield was mostly related to the Review of literature 39 late season infestation with both species and the economic yields are almost impossible to achieve without their chemical control. In Egypt, Khidr et al. (1996) tested the efficacy of the pyrethroids, cypermethrin, cis-cyfluthrin, S-fenvalerate, fenpropathrin and cyhalothrin against P. gossypiellaRead MoreAnalysis Of Reinforced Concrete Transportation Structures944 Words   |  4 Pagesconstructing many of these infrastructures. RC is a unique construction material which allows flexible design layouts and offers safe bending and torsion to satisfy design requirements. However, being exposed to harsh environment and contamination such as salts, acid rain, distilled water, carbonation, sulphur and so on are the reasons for deterioration, thus significantly impacting the performance of these structures. Furthermore, the deterioration of these structures is not only a safety issue but alsoRead MoreNanotechnology Case Study997 Words   |  4 Pagesthe promising research areas in the biological fields including agriculture and allied areas. Indiscriminate use and continuous application chemical pesticides lead to accumulation of toxicants in environment and soil ecosystem. To overcome these types of problems, development of nanoparticles and use at lower dose to get higher efficacy by green nanotechnology is one of the alternatives and eco-friendly approaches. Bio-synthesis of plant based nanoparticles is economically feasible compared to nanoparticlesRead MoreImproving Quality Of Cameras On Mobile Devices Essay1006 Words   |  5 Pagesprocess. In the presence of such distortions, the ability to automatically assess the quality of captured images is also becoming increasingly desirable. In this project, our aim is to exhibit a detailed study of the types and sources of document image degradations and then review the techniques for document image degradation. At the end, we discuss some measures and conduct experiments that are used to characterize document image quality. 1.2 Background Information Optical character recognition

Develop Teams Individual Free Essays

string(123) " collect feedback on performance of team members from relevant resources and compare with established team learning needs\." This report will look at identifying and implement learning and development needs for an automotive service workshop. It will look at developing a learning and development plan, elaborating a strategy to encourage staff to self evaluate performance, assessing performance, providing feedback and managing follow up. It will use Richard Parser’s Automotive Service Team workshop as a case study to help understand the problems of managing people learning needs and performance implementing. We will write a custom essay sample on Develop Teams Individual or any similar topic only for you Order Now Background Richard Parker has been in business for three years, in Preston, Melbourne. Richard employs eight full-time and two part-time staff. Four of the full-timers work in the workshop and two in in the back office and two in the front office dealing with customers. Richard has noticed that the front office staff and their customer service are not up to the expected level. For example customers don’t get the service that they require or the product they order. Richard complains of staff not showing up for work at the right time and so on. Richard has also faced some issues with the local council over solid and liquid waste disposal. The back end office staff often confronts the mechanics when they order spare parts for the services to be carried out. The back office staff always complain of issues with suppliers. Suppliers complain of the ambiguous ordering process of the back staff. Richard finds some irregularity in his teams in terms of application of skills and knowledge. He believes that it is the right time for him to take the right actions to turn the business into the right direction. That’s why he decides to identify and implement learning and development needs for is staff. Report AAA . Recommended learning method is a Training Needs Analysis (TAN) Richard could identify his team learning needs using a systematic approach and going through four steps of analysis: 1. Analysis of the competencies that each employee must have to improve the business flow. 2. Analysis of the organization requirements to focus where is the learning and development need located. 3. Task analysis to establish what individuals and teams must learn in order to satisfy the required learning and development need. . Team analysis to determine which employee needs a learning program. To conduct this analysis Richard will need to: now his company situation, ; identify required competencies of his team, ; involve employees in decision making, survey, discuss and analyses actual data, prepare specific employee development plans, implement the plans. Before to designing the training progr am, it will be very important that Richard conduct a SOOT analysis, to identify his team Strengths and Weakness points; and his business Opportunities and Threats. To fill the gap between the Job requirements and current abilities of his employees, Richard has to conduct a training needs analysis, making sure that it’s targeted to a specific need and satisfies training acquirement. The training needs will be the result of collecting information on the skills, knowledge and attitude required to perform a Job task, identifying the training need and performance gap. When designing the learning needs analysis, Richards aim is to: ; assess the current situation. Define the problem (what gaps exist? ). Determine if there is a need for training/learning. Determine what is driving this need for training/learning. ; evaluate existing training. Assess the possible learning solutions. Ascertain information about logistical considerations/constraint. The Training Needs Analysis will provide the following benefits: ; A clear indication of what needs to be included in a training program. ; Assists in developing learning outcomes (by identifying precis ely what needs to be learnt). ; Clarifies areas for assessment. O Provides guidance on development, delivery, presentation methods and media to be used. Provides knowledge of the target audience, training gaps and proposed content. ; Will allow specific evaluation to ascertain its success. AAA. Learning and Development Plan. Name: Paul smith Date: 25. 02. 2014 Job position: Front office, customer service. Learning improvements goals Dealing with customers Communication with the staff Being at work on time Learning outcomes Delivering effective customer service Team working Effective internal communication Respect of workplace rules and workflow Strategies / steps or actions Analysis of training needs: interview to identify performance needs. Identification of appropriate learning methods: consulting of guest speaker. ; Employee self-evaluation of performance: simulated work experience. ;Owner feedback: on-the-Job coaching or mentoring. Follow up: simulated work experience. Behavior/ expectations/support ; Elaborate a learning plan targeted, collaboratively developed, agreed to and implemented. ; Owner identifying and approving resources and time lines required for learning activities. ; Employee proclivity to fill in the performance gaps. Owner providing coaching and mentoring assistance. Owner providing encouragement and positive feedback to the employee. Data/ resources Survey to be subordinated during informal interview. ; Guest speaker identifying appropriate learning methods. Timeline ; 1 week for analysis ; 1 week for simulating work experience, feedback and follow up. AAA. Employee self-assessment. SELF ASSESSMENT Employee details Name: PAUL SMITH position: FRONT OFFICE work area: CUSTOMER SERVICE contact no. : 555 555 555 1. Sees your current level of skill/knowledge relating to the skills/knowledge provided: I know how to take orders from clients, how to answer to phone calls, how to record appointments on the agenda. 2. Think about the requirements of your Job in relation to the skill areas and note the major task/knowledge requirements of your position: I need to improve my approach to the Clients, delivering effective customer service. I need to learn how to use suppliers database, to improve communication tit back office staff. I need to learn more about mechanical components, to improve communication with staff. I need to respect more workplace rules and workflow. 3. Where you can identify that your skills/knowledge are less than those required for your position, tick the box Training Required: a) Dealing with customers b) Communication with the staff c) Being at work on time 4. Where training is required, decide how soon your training should occur: a) the next 2 weeks b) In the next 2 weeks c) Immediately AAA. Feedback mechanisms. In Richard needs to collect feedback on performance of team members from relevant resources and compare with established team learning needs. You read "Develop Teams Individual" in category "Papers" Feedback on performance may include: ; Formal/informal performance appraisals. Obtaining feedback from clients. Obtaining feedback from supervisors and colleagues. Personal, reflective behavior strategies. ; Routine organizational methods for monitoring service delivery. Richard may use some formal systems in comparing established team learning needs, such as measurement systems (including planning), individual and team performance and reward systems, resource allocation systems. Richard should use also some informal yester in comparing established team learning needs, including meeting formats and conflict resolution protocols. AS. Development program Goals. Richard has to identify and develop program goals and objectives in order to establish clear training goals, learning objectives, and long-term objectives based on the outcomes that his employees wish to achieve. The goals and objectives indicate what the participants will learn and achieve as a result of their learning. To be effective, training must be specifically structured to meet stated outcomes and must be based on: ; Clear and measurable goals. Clear and learner focused objectives. Long-term objectives, to establish a pattern for future evaluation. Richard should provide to his employees a document that specifies in a structured format how they should perform a Job or work role (competency standard). AAA. Appropriate Learning Methods. Learning delivery methods appropriate to the learning goals may include: ; Conference and seminar attendance ; Formal course participation ; Induction Involvement in professional networks On-the-Job coaching or mentoring Presentations/demonstrations ; Problem-solving Work experience It is important to give the right consideration to participants expect and their earning style. Some learning methods might be not effective because: ; Lack of practical information (too much theory or background and not enough â€Å"how-to† approaches or action steps). ;Material too elementary and/or out of date, no â€Å"state of the art†. ; Not enough group interaction (too much lecturing). O Lecture notes and visuals not sequenced with course coverage. Sometimes boring. Disorganized – skipping from topic to topic with no sense of direction. ; Poor visuals. To provide an effective training program, the trainer should: ; Assess in advance the relative importance of each segment of the learning program. Spend more time on the most vital segments. Determine priorities for the elements of the session in advance. An effective trainer should avoid spending too much time on relatively lightweight portions of the learning program and being sidetracked by too many questions. AAA. Workplace opportunities. Informal session for customer service for front office staf f. ;Refresh training in the main workshop. Rear house session with supplier sell manager. AAA. Assess and record outcomes of recommended training. Assessment in training is about measuring learners to see if they have reached the stated objectives of the course. To assess and record outcomes and performance of individuals and teams you need to evaluate their knowledge and their skills. 1 . Knowledge: what learners gained as a result of training. These assessments test the recall of facts, comprehension skills, analysis skills, synthesis skills and evaluation skills. 2. Practical skills: the application of knowledge to a given situation. Knowledge and Practical skills include four main types of assessment: 1 . Real work: Takes place whilst the learner is performing real work, on- the-job. 2. Simulated work: Usually performed off-the-job, possibly in a training room or mock up work site. 3. Written: Used to demonstrate in written form what they know, either on paper or on computer. 4. Oral: When learners speak about what they know. One of the key challenges with assessment is to be able to assess the learning back in the workplace, â€Å"on the Job†, and it is possible to check it through the Performance Review Programs, which include observations on the Job. It is also fundamental to record assessment, keeping â€Å"training records† through a recording system that enables easy identification of what training each staff member has completed and when. Depending on the size of the organization, this could be a simple matrix or it ay be done through the use of software commonly known as a â€Å"Learning Management System† (ALMS). AY. Adjusting the learning program. After monitoring and evaluating if the training course met the aims and objectives for which it was developed, it is important to adjust the learning program, if it is not u to expected dimension. Based on both assessment and evaluation, it might be needed to make or recommend changes for future training to improve the efficiency and effectiveness of learning. Changes can be made on different sides: TIME: Recommending a review of time to address the time to provide a more impressive treatment of the subject or selecting in lecture notes. CONTENT: Reviewing or re-writing the content of a presentation, for example to ensure emphasis on the practical application of the material. DELIVERY: Focusing learning material on fact and accepted knowledge not on opinion or on a particular style of management. Proposing to the learners generally and officially accepted management techniques and policies. FORMAT: Including a glossary of terms and an annotated bibliography to the notes. Organizing the content of the learning notes, making frequent use of headings and sub-headings and bullet points. Reviewing formatting and printing to improve the efficiency and effectiveness of learning. Providing copies of the learning material in advance so that those involved with changes can be appraised of the current presentations. AI. Documenting and maintaining records and reports of competency gained. Many methods can be employed to document and maintain records: ; Training evaluation form template Course participants to complete and to hand form to trainer after completion ; Assessment by course Director/Supervisor/Owner Owner/Supervisor to complete either with, or after discussion with the participant. Owner/Supervisor to complete either with, or after discussion with the participant 1 . Have you seen the desired changes to the participant’s skills or knowledge? Yes 2. How will you test that the participant has gained from this course? Simulating work experience. . If the participant did not make the gains necessary, what can be done to address this? He can be trained again trough an on-the-Job coaching or mentoring and he could attend a formal course about customer service, internal communication and mechanical components. 4. From discussions with the participant, are you both attested that attendance at the training plan was worthwhile? Yes 5. Other comments? Elaboratin g a training need analysis was a effective way to improve my staff knowledge and skills and to implement and develop an effective team work. Supervisor: Richard Parker Date: 25. 02. 2014 Conclusion/Summary This report has looked at identifying and implement learning and development needs for an automotive service workshop. Developing a learning and development plan, elaborating a strategy to encourage staff to self evaluate performance, assessing performance, providing feedback and managing follow up. The process of monitoring, evaluating, implementing and developing people performance is essential to the success of any business. How to cite Develop Teams Individual, Papers

Positive Accounting Theory

Question: Write about Positive Accounting Theory (PAT) and you have to mentioned that you gonna support Current Accounting Standard so we don't need new Accounting. Answer: Summary The paper examines the BPs Deepwater Horizon oil spill to illustrate the need for the prior provision of detailed information as required by the public interest theory of accounting. From the BPs Deepwater Horizon oil spills case, BP hoarded the critical ecosystem information to the public to avoid compensation for the damages. This practice went against the Interest Theory consequently delaying payment of damages caused by externality (Herz and Petrone 2004). The BP has underestimated the physical damages by taking the advantage of the challenge of demonstrating causally linked effects. The BP also took the advantage of the then methods of measuring ecosystem services which fell short of a more mature stage. However, the current accounting standards are effective in ensuring that the plaintiffs, government trustees as well as courts enjoy powerful tools for assessing marine liability damages. Abstract The BP failed to disclose the critical accounting information to escape proper payment of damages since the cost are not the same as the benefits. This problem is complicated by the fact that a focus on the restoration cost as a measure of the damages has the possibility of leading to both over-deterrence and under-deterrence depending on the association of restoration cost to the true social cost of the physical damage. BP prevented the plaintiffs, trustees as well as courts from having powerful techniques for active assessment of marine liability damages. The paper stressed the significance of the Interest Theory and Positive Accounting Theory in ensuring that BP disclose the required information. The current accounting standards are efficient to tackle issues in accounting and hence it unnecessary to embrace new Accounting Standards. Introduction The discussion of this paper anchors on the BPs Deepwater Horizon oil spill to showcase the need for prior provision of detailed information as required by the public interest theory of accounting. The failure of BP to provide the required ecosystem information to the public tends to go against the Interest Theory and has derailed the process of settling the damages caused by BP through this externality. BP has failed to give detailed information on the external cost that resulted from the spillages. Accordingly, the BP has underestimated the physical damages taking the advantage of the challenge of demonstrating causally accompanying effects. The BP has taken this advantage to escape proper payment of damages since the cost are not the same as the benefits. This problem is complicated by the fact that a focus on the restoration cost as a measure of the damages has the possibility of leading to both over-deterrence and under-deterrence depending on the association of restoration cost to the true social cost of the physical damage. The BP also took the advantage that the then methods of measuring ecosystem services fell short of a more mature stage, as it is presently, to bar the plaintiffs, trustees as well as courts from having powerful mechanisms for effective assessment of marine liability damages. BP, therefore, benefitted since the then prevailing scientific and economic knowledge restricted technical calculation of damages thereby paving the way for political bargaining. BP optimized this deficiency by neither failing to fully disclose the details of the ecosystem as well as social damages, nor the fundamental computation methodologies of the firms pre-tax charge of US$40.9. Nevertheless, this paper stresses the importance of the Interest Theory and Positive Accounting Theory and how they could have ensured that BP discloses the required information. Accordingly, the paper takes a stance that supports the effectiveness of the current Accounting Standards by showcasing that it is needless to introduce new Accounting Standards. Discussion Interest Theory The Interest Theory posit that regulation is supplied in reaction to the public demand for the correction of the inequitable or inefficient practices in the market. The Interest Theory assumes regulation to benefit the society as an entirety instead of given vested individual interest. The theory regards the regulatory body as the representative of the entire societal interest where it undertakes its operations rather than the individual regulators interests. The Interest Theory is based on certain assumption in its operation. One of these axioms is that markets are extraordinarily delicate and suitable to undertake their operations inequitably and inefficiently if the regulator does not intervene. The theory views the government as an unbiased arbiter to facilitate market operations. The public interest perception hold that governments undertake regulatory activities on banks to enhance the efficient operations of financial institutions by bettering market failures to trigger gains of broader civil society. The theory is sensitive to market fragility and its likelihood of operating in favor of private concerns while neglecting the significance of the society as a whole. Accordingly, it recommends government market intervention to direct and monitor the economic markets. The government intervention focuses on making banks serve the social interest in allocating resources efficiently. It provides that the corporate need to disclose adequate and updated information about their financial performance, and non-financial relevant information including environmental and social impacts (Chua and Taylor 2008). The Interest theory anchors on the rationale to introduce the legislation that mandates the corporate to disclose the impact of their operations on the environment and society. It also advocates for the disclosure of initiatives that corporate embrace to safeguard the society as well as environment from adversarial impacts of their operations. Role of regulators (politicians) Accounting regulation is a product of political processes. However, people raise questions on the perception that financial accounting should be neutral, objective as well as apolitical when practitioners agree that accounting standard-context process is a political process (Chapple and Koh 2007). Nevertheless, the bottom line is that financial accounting impacts the wealth distribution within the society and hence it is a political process. The free market perspective hold that accounting information need to be treated similarly to other goods where the supply and demand forces need to be permitted to operate to produce an optimal supply information regarding the firm. However, pro-regulation viewpoint holds that accounting information needs to be treated as a public good. In this case, once the accounting information is available, the public can utilize it without paying as well pass it on to their colleagues (Whitley 1988). The regulators hold that few people have the incentive to pay for the services and goods in the same way producers will. Consequently, underproduction of information will occur (Kabir 2010). The regulators come in to help alleviate this underproduction phenomenon. Regulation is, therefore, critical to declining the impacts of market failure regarding the accounting information (McMahon, Davies and Bluhm 1994). The existence of a horde of accounting standards in the developed countries that cover a vast cross-section of issues have triggered regulation. Proponents of regulation oppose the free-market mechanism and advocate for regulation for universal methods to enhance comparability as well as safeguard misleading information. Therefore, the public interest theory of regulation help protects the public. Motivations of politicians as regulators The inefficiency and inadequacy of the market motivate the regulators to intervene by being neutral arbiters of the public interest. Since the accounting information is a public good, the producer is unwilling to pay the additional cost of generating the required information leading to under-production of the information. However, since this information is critical to the public, the regulators come in as neutral arbiters to correct the inefficiency and inadequacy in the market (Herz and Petrone 2004). The regulators will make legislations and standards that guide the financial reporting including the disclosure of pertinent information. The availability of this information, for instance, the environmental and ecosystem impacts of a firms operation, allows the regulator to safeguard the interest of the public in case of externalities as witnessed in BPs Deepwater Horizon oil spill. The regulators want to integrate biodiversity as well as ecosystem services metrics into the environmental risk management procedures alongside the information systems of the entire business operating perilous property. They are also inspired to establish more reliable environmental accounting as well as reporting practices to address the corporate environmental performance (Cheney 2001). The regulator also want to make entities adopt an integrated reporting for companies which integrates social, financial, and environmental (non-monetary and monetary) issues thereby generating honest disclosure of integrated performance of entities to the stakeholders. Response to the article by arguing a position I do not agree with the decisions taken by BP to compensate for damages caused by the Deepwater Horizon oil spill. BP violated the requirements and goodwill of the Interest Theory by hoarding essential ecosystem information. In this regard, BP did not give the exact demonstration of the social damages that its operation caused to the public making it hard to use technical calculations to arrive at better compensation. The government trustees, therefore, found it tough to vigorously measure the lost ecosystem services and goods (Christenson 1983). If BP could have embraced the Interest Theory provisions, it could have disclosed critical information helpful in assessing the suitability of the extensive amounts charged thereby determining whether there were negative externalities uncounted for by BP. The information could have also help in understanding the amplitude of the efforts of restoration to be carried out about the ecosystem values as well as assets that have been lost or partially diminished. In this regard, the restricted disclosure by BP falls short of providing the stakeholders with the comprehensive picture of the financial environmental as well as the social implication of the Deepwater Horizon oil spill. As reflected in Positive Accounting Theory (PAT), the disclosure of accounting information is effective (Klersey, Stunda and Vinson 2005). PAT is helpful in the prediction of actions such as the choices of accounting policies by entities and how firms react to proposed new accounting standards. The PAT is also helpful in the reconciliation of efficient securities market theory with the economic consequences. As reflected in the BPs Deepwater Horizon oil spill, PAT was helpful in the minimization of political heat. PAT hold that the severe the political cost a firm faces, the most probable that a manager is to embrace accounting procedures which defer reported earnings from current to the future. BP made policy choices that helped it minimize the contracting cost as well as accounting policies. PAT aligns to the current effective accounting standards such as AAS 16 which details the reporting and disclosure requirements of the information (McMahon, Davies and Bluhm 1994). It advocates for the disclosure of up-to-date status as well as trends of the ecosystem within which BP undertakes its operation. This is essential in ensuring that stakeholders possess strong ecological reference points before the occurrence of any potential accident, like oil spillage. The current accounting standards are effective, and there is no need for new standards. The standards such as AAS 15 and AAS 16 have comprehensively detailed disclosure and reporting requirements. The standards provide for social and ecological externalities of the BP including the accidents on water consumption, climate regulation as well as biodiversity. In this case, the currently available accounting standards only need proper implementation based on goodwill rather than introducing new standards to solve the cases regarding externalities due to inadequate disclosure as reflected in BPs Deepwater Horizon oil spill. Conclusion BP benefitted because the prevailing scientific and economic knowledge restricted technical calculation of damages thereby giving room for political bargaining. BP exploited this deficit by neither failing to disclose the details of the ecosystem as well as social damages, nor the underlying computation methodologies of the firm's pre-tax charge of US$40.9. The paper has emphasized the position of the Interest Theory and Positive Accounting Theory in the facilitation of both disclosure and financial reporting. It demonstrated that BP did not disclose the required information (Nagy 2001). The paper supports the effectiveness of the current Accounting Standards and hence it is needless to introduce new Accounting Standards. References Chapple, L.J. and Koh, B., 2007. Regulatory responses to auditor independence dilemmaswho takes the stronger line?. Australian Journal of Corporate Law, 21(1), pp.1-21. Cheney, G., 2001. Creating a corporate conscience: New role of non-financial reports. Accounting Today, 15(7), pp.3-4. Christenson, C., 1983. The methodology of positive accounting. Accounting Review, pp.1-22. Chua, W.F. and Taylor, S.L., 2008. The rise and rise of IFRS: An examination of IFRS diffusion. Journal of Accounting and Public Policy, 27(6), pp.462-473. Herz, R.H. and Petrone, K.R., 2004. Internaitonal Convergence of Accounting Standards-Perspectives from the FASB on Challenges and Opportunities. Nw. J. Int'l L. Bus., 25, p.631. Kabir, H., 2010. Positive accounting theory and science. Journal of Centrum Cathedra, 3(2), pp.136-149. Klersey, G., Stunda, R.A. and Vinson, R.E., 2005. The Effect of Derivative usage on Security Returns. Academy of Accounting and Financial Studies, pp.123-129. McMahon, R.G., Davies, L.G. and Bluhm, N.M., 1994. Exploratory modelling of financial reporting and analysis practices in small growth enterprises. The Journal of Entrepreneurial Finance, 3(3), p.199. Nagy, J., 2001, January. The emergence of the public sector expectations gap. In International Conference-Accounting, Auditing Management in Public Sector Reforms, Zaragoza (Espagne), 79 September 2000, EIASM (pp. 459-475). Perry, J. and Nelke, A., 2005. International accounting standard setting: A network approach. Business and Politics, 7(3). Ruder, D.S., Canfield, C.T. and Hollister, H.T., 2004. Creation of world wide accounting standards: convergence and independence. Nw. J. Int'l L. Bus., 25, p.513. Schaub, A., 2004. Use of International Accounting Standards in the European Union, The. Nw. J. Int'l L. Bus., 25, p.609. Sennetti, J. and Litt, B., 2013. Persuasion as a Prelude to Proof: Theory Acceptance in Accounting Research. Advances in Business Research, 4(1), pp.54-67. Tweedie, D. and Seidenstein, T.R., 2004. Setting a global standard: The case for accounting convergence. Nw. J. Int'l L. Bus., 25, p.589. Watts, R.L. and Zimmerman, J.L., 1986. Positive accounting theory. Watts, R.L. and Zimmerman, J.L., 1990. Positive accounting theory: a ten year perspective. Accounting review, pp.131-156. Whitley, R.D., 1988. The possibility and utility of positive accounting theory. Accounting, organizations and Society, 13(6), pp.631-645.