The Roots And Stylistic Foundations Of The Rap Music...

Cheryl L. Keyes’ â€Å"The Roots and Stylistic Foundations of the Rap Music Tradition† 1. Keyes points out that rap music derives from what she refers to as the â€Å"West African bardic tradition.† What is this tradition? What is the role of the griot in this tradition? What parallels do you see between the groit and a hip hop MC (the rapper, often the main writer of lyrics for a group)? The West African bardic tradition refers to the passing on of empirical knowledge from elders, known as griot, via a media of rapping, which occurs as a tradition where â€Å"the grandfather...bring[s] all the immediate children around him to rap.† This tradition is the expression of historical culture and lessons via a media of poetry, rhythm, and music. The role of†¦show more content†¦In regards to its influence, the prevalence of the chaos and gangsta-driven era, though being a factor that led to the popularity of gangsta rap, also played a role in supporting and contributing to the recurrences and prolonged period of gangster-driven supremacy. Tricia Rose’s â€Å"Rap Music† 2. Rose argues that women â€Å"are not major players in the use of sampling technology nor have they made a significant impact in rap production.† List some reasons why Rose makes this claim. Does Rose provide evidence that counters or complicates her argument? In other words, how have women been, despite being clearly marginalized, essential to the development and production of hip-hop. As Rose notes, â€Å"women have been virtually absent from the area of music production† and were â€Å"often actively discouraged from learning about and using mechanical equipment† due to a variety of reasons. â€Å"this takes place informally in socialization and formally in gender-segregated vocational tracking in public school curriculum. Given rap music’s early reliance on stereo equipment, participating in rap music production requires mechanical and technical skills that women are much less likely to have developed.† Rose also notes that since many needed access to equipment, such as how Red Alert’s success was widely due to his access to his neighbour, Otis, and thus stereo equipment was readily accessible to him–for social, sexual, and cultural reasons young women would beShow MoreRelatedRoots of Hip Hop968 Words   |  4 Pagesï » ¿Ã‚   â€Å"The Roots and Stylistic Foundations of the Rap Music and Tradition†    Hip-Hop as well as many other artistic cultural forms we practice today can be related back to African culture and various traditions. Author of  The Roots and Stylistic Foundations of the Rap Music and Tradition,  Cheryl Keyes, discuss’ the spirit, style, tradition, emotions, culture and the delivery of music. Keyes says that many of these practices can be traced back to the West Afrikan Bardic Tradition in particular. WhenRead More Discontent Expressed through Blues, Jazz, Reggae, and Hip-hop5489 Words   |  22 PagesDiscontent Expressed through Blues, Jazz, Reggae, and Hip-hop In cultures all over the world, music can be seen encompassing many aspects of life for many individuals. It is a form of mass communication thatspeaks directly to society as a cultural form, and often reflects a collection and pattern of personal experiences (King 19). Music is so influential because it communicates on three different levels: the physical, emotional, and cognitive. Not only does it operate in a nondiscursive way, byRead MoreHeavy Metal Music7270 Words   |  30 PagesHEAVY METAL MUSIC WHAT IS HEAVY METAL MUSIC? Heavy metal  (often referred to simply as  metal) is a genre of  rock music  that developed in between 1968 and 1974 , largely in the United Kingdom and the United States.With roots inblues-rock  and  psychedelic rock, the bands that created heavy metal developed a thick, massive sound, characterized by highly amplified  distortion, extended guitar solos, emphatic beats, and overall loudness. Heavy metal lyrics and performance styles are generally associatedRead MoreDub Poetry in and from Jamaica9895 Words   |  40 PagesTable of Contents 1 Introduction 2 2 History and Development of Dub Poetry 3 2.1 The Development of Jamaican Creole – Short Overview 3 2.2 The Oral Tradition 4 2.3 From the B-side of a Record via â€Å"Toasting† to Dub Poetry 6 3 The Correlation of the Rastafarians, Reggae and Dub 9 3.1 The Rastafarians 9 3.2 The Peculiarity of Dub 10 3.3 Artists and Scenes 12 3.3.1 The Jamaican Scene 12 3.3.2 The British Scene 13 3.3.3 The Canadian Scene 14 4. Structural Characteristics of Dub Poetry 15 4.1 Patois –Read MoreDeveloping Management Skills404131 Words   |  1617 PagesEmpowering and Delegating Effective Empowerment and Delegation 440 Personal Empowerment Assessment 441 SKILL LEARNING 443 Empowering and Delegating 443 A Management Dilemma Involving Empowerment The Dirty Dozen 444 The Meaning of Empowerment 445 Historical Roots of Empowerment 446 Dimensions of Empowerment 447 Self-Efficacy 447 Self-Determination 448 Personal Consequence 449 Meaning 449 Trust 450 Review of Empowerment Dimensions 451 How to Develop Empowerment 451 Articulating a Clear Vision and Goals 452 Fostering

The Effects Of Violence On Young Children - 981 Words

Children throughout America spend countless hours on the media, such as watching television, playing video games, or listening to music. Most media in the world today contains immeasurable images of violence, and average total media use of children throughout the United States is nearly 8 hours per day (Bushman Anderson, 2001). This means that through this constant access to the media, young children are exposing themselves to countless images of graphic violence. This is a serious issue, as young children are greatly influenced by what takes place in the world around them, effecting their development and ultimately their behavior. Therefore, there is significant research that demonstrates some negative effects of young children’s overexposure to violence in the media, as it sometimes leads to desensitization and an increase in short-term aggressive behavior. One of the reasons for the concern of the effects of violence in the media on young children is due to the fact that the early years of life are a crucial time in brain development (Mwema, 2011). According to Mwema, during this time in the development of young children, they often learn by imitating behavior, and therefore â€Å"visual media can both educate and misinform children† (Mwema, 2011). This is because although most adults realize that media violence is fabricated; children are much more vulnerable, as younger children cannot distinguish the difference between reality and fantasy (Muscari, 2002). Children agedShow MoreRelatedHow the Media, Violence, and Advertising Effects the Minds of Young Children and Adults1036 Words   |  5 PagesHow the Media, Violence, and Advertising Effects the Minds of Young Children and Adults Media, it’s everywhere you go, and plays a major role in our everyday lives. It’s the largest source of entertainment and the most powerful and influential invention in the twentieth century. The amount of violence and advertising seen in the media has posed a lot of controversy, and many studies have made clear that the media is responsible for much of the violence seen in our world we live today. Many of ourRead MoreChildren And Effects Of Domestic Violence1612 Words   |  7 PagesCHILDREN AND THE EFFECTS OF DOMESTIC VIOLENCE Children and the Effects of Domestic Violence in the Home Domestic violence is any behavior of physical, sexual, emotional, or physiological acts or threats that intimidate a person or partner by trying to control or maintain power. Unfortunately, many children experience these harmful acts in the home between family members, all of different ages, ethnicities, and statuses. When thinking about a safe and healthy childhood and environment, what comesRead MoreEng 1011630 Words   |  7 PagesViolence in Music Videos and Music Lyrics has a negative impact on children. Music videos that expose profanity and sexuality are inappropriate and leave a negative impression on young children. Violence in music videos can cause health problem. Music videos that promote negative lyrics are affecting young children. Music lyrics with vulgar languages affect the development and well-being of young children. For example, the study author (Stone, 2009) found â€Å"that music with explicit referencesRead MoreEssay Television and Media - TV Viol ence is Ruining Children842 Words   |  4 PagesTV Violence is Ruining Children    A young child sits in front of a television watching cartoons while his mother runs around the house doing various chores.   The mother passes the room the child is in and glances at the television each time she passes.   The child is watching Sesame Street.   Then, a half an hour later, Mr. Rogers is on. The mother walks into the room a half an hour later and stops in horror at what is on the television.   Her young son is watching the same station as beforeRead MoreEssay about The Effects of Domestic Violence on Children1448 Words   |  6 Pagesdomestic violence between parents and parental figures affect the children who witness it? This is a question often asked by Sociologists and Psychologists alike. There have been studies that prove that children who witness domestic inter-parental violence experience mental health problems, issues with gender roles, substance abuse, the committing of crimes and suicide/suicide attempts later in their lives. This paper will explore all five of these effects of domestic violence on children and showRead MoreTV To Blame For Rising Violence Essay examples932 Words   |  4 PagesTV to blame for rising violence, says police chief an article taken from the Times on 28th June 2002. The article describes how the content of what young people are watching of television is responsible for rises in criminal behaviours amongst young people. One assumption is that young people are susceptible to the influence of television. In the article Matthew Baggott, the deputy chief constable states of young people, `They are very vulnerable to the influences of the media. nbsp;ThisRead MoreTelevised Violence causes Aggression in Young Boys1555 Words   |  7 PagesTelevised Violence causes Aggression in Young Boys Young boys are evidently influenced by things in their environment such as media, peers, and family. Elementary school aged boys are influenced easily because these are critical years in developing their sense of individuality and social skills with their peers. The vulnerably of young boys are a reason why they are a target of the popular culture of displaying television violence because they have rarely encountered it in previous years so theyRead MoreDomestic Violence And Sexual Abuse896 Words   |  4 Pageshis/her home at a young age? Introduction: What is domestic violence? â€Å"Domestic Violence is a pattern of behaviors used to establish power and control over another person through fear and intimidation, often inclosing the threat or use of violence†(Safe Horizon, 2015). Domestic violence includes physical abuse, sexual abuse, emotional abuse, and exploitation; therefore, this is in relation to â€Å"intimate partner violence, battering, relationship abuse, spousal abuse, or family violence† (Safe HorizonRead MoreThe Effects Of Violent Media On Children901 Words   |  4 Pagesnegative or positive effect on kids. On the one hand, some people argue that they enjoy expressing built up anger and emotions through reading comic books. On the other hand, violent media can effect young children and have them think it’s okay to be violent in real life. My own view is violent media does cause kids to have a mindset that killing or violent actions are okay to do. Violent media is everywhere in this generation of technology. The violent med wouldn’t effect children if some regulationsRead More Impact of War and Violence on Children in A Long Way Gone by Ishmael Beah1462 Words   |  6 PagesChildren exposed to violence within their communities are left with emotions of hopelessness, insecurity, and doubt. Historical events such as the war on terrorism, wars in Iraq and Afghanistan, and the tragic events of September 11th have had a detrimental effect on the entire nation, including the children. Although every child is not directly affected by the aspects of war, it somehow has an emotional effect on all. The involvement of a nation with war affects every individual differently, whether

Night Creature Blue Moon Chapter 31 Free Essays

Cadotte drove my car. I kept having visions of being stopped by one of my co-workers and trying to explain why the driver was naked and I was near enough. I wore a long T-shirt that just covered my cheeks, but no underwear. We will write a custom essay sample on Night Creature: Blue Moon Chapter 31 or any similar topic only for you Order Now If someone saw me like this I’d never live it down. But he was a careful driver, and we reached the end of the dirt trail that led to his cabin without incident. He parked my car next to his, a Jeep, and we set off toward the house. I’d never been inside his place, only looked in the front window like a voyeur. I’d forgotten that occasion until I followed him inside and got another scare from the wolf hanging in the hall. â€Å"What’s with that?† I asked. He didn’t seem like the kind of guy who’d display dead things on the wall. â€Å"Gift from a friend.† Now that I could see more closely, the wolf’s head was a hat and the skin a cape. I’d seen pictures of men wearing them at powwows and such. People wore all sorts of interesting things when they danced in ceremonies. â€Å"Do you use this?† I asked, thinking it must have something to do with the wolf clan. â€Å"No. That’s a Plains tribe affectation. The Navajo believe a witch becomes a werewolf by donning a wolf skin.† Cadotte nodded toward the one on his wall. â€Å"Like this.† â€Å"Believe? As in present tense?† â€Å"Yes. Or at least some of them do.† â€Å"Like your friend?† â€Å"Maybe.† â€Å"What about you?† â€Å"I believe in werewolves. But I’ve tried on that skin and I was still me – wearing the head of a wolf.† He continued into the main part of the house, leaving me to stand alone in the haB or join him. Since the wolf skin creeped me out more than it should, I hurried after. Cadotte wasn’t in the living room. Or the kitchen, which I could see from where I stood. The place was cleaner than I’d expect for a guy who lived alone, but not neat by any means. Papers and books were strewn over every fiat surface, and the paraphernalia of life was stacked in the corners and behind the furniture. I let my gaze wander over his stuff, then around the room. Wood shutters graced every window. Huh. I’d seen storm shutters attached to the outside of a cabin. I wondered why he had them on the inside, too. Must be better insulation. A door to the left stood open, so I went in. He was already in bed. I raised a brow. â€Å"In a hurry?† â€Å"I thought you were tired.† Seeing him there with the sheet pooled at his hips, chest all bare and beautiful, I wasn’t so tired anymore. I dropped my bag, lost the shirt, and crawled in beside him. But when I ran my hand up his thigh, he put his over mine. â€Å"I promised we’d sleep.† â€Å"I didn’t.† He tugged my head onto his shoulder. â€Å"Rest, honey. Let me hold you awhile.† I jolted at the endearment. â€Å"You know, if any other guy called me ‘ honey,’he’d be having his teeth for lunch.† â€Å"I guess I’m not just any guy.† â€Å"I guess you’re not.† His lips brushed my hair. â€Å"That might be the nicest thing you’ve ever said to me.† â€Å"Don’t let it go to your head.† â€Å"I won’t.† Fingertips trailed along my spine, gentle, light, a relaxing touch that made my eyes drift closed. But I didn’t fall asleep. There was something I had to ask. â€Å"The night we met, you had a bruise on your hip.† â€Å"I get a lot of bruises.† â€Å"You do? Why?† â€Å"I’m kind of a klutz, or I used to be. Which is why I started practicing martial arts. It helped my balance. I don’t stumble over my own feet nearly as much as I used to.† A good excuse, but he still hadn’t answered my question. I asked him again. â€Å"Why don’t you tell me where you think the bruise came from?† When I tried to articulate my doubts, I found I couldn’t put anything so silly into words. So I didn’t. However, Cadotte had no such compunctions. â€Å"You think I got hit by a car while in wolf form, and by the time you saw me I had a bruise.† I started, colored, shrugged. â€Å"Well, the bruise was gone by the first time we†¦ you know.† â€Å"Made love?† I winced. I hated that term. Love was a foreign emotion to me. I wasn’t exactly sure what it meant. My father hadn’t loved me, obviously. My mother had an odd way of showing it. I’d never loved a man and a man had never loved me. Maybe what I felt for Zee was love – maybe. â€Å"Whatever,† I muttered. â€Å"I heal quickly. Always have. Healthy lifestyle. And some Ojibwe medicine.† â€Å"What kind of medicine?† â€Å"My grandmother was a member of the Midewiwin.† I frowned and he quickly clarified. â€Å"The Grand Medicine Society. She was what people refer to as a medicine woman. She used natural remedies – herbs, bark, eye of newt.† He winked. â€Å"She knew the old ways, and she taught them to me.† â€Å"Knew?† â€Å"She died of pneumonia when I was ten. Some things can’t be cured.† â€Å"I’m sorry.† â€Å"So was I.† My hand rested on his chest. His heart beat steadily beneath my palm. The room was quiet and I drifted toward sleep. â€Å"Why do you think so little of yourself?† he asked. â€Å"What?† I struggled to follow the sudden change in subject. â€Å"I don’t.† â€Å"Right. That’s why you’re so worried about what people will say. Beauty and the Beast, but I get to be the beauty. There’s a switch.† â€Å"I know who I am. I have my strengths. Being a girl isn’t one of them.† His free hand slid over my hip, cupped my butt. â€Å"I think you’re wrong. You make a very nice girl.† â€Å"You would say that.† â€Å"Yes, I would, because I think you’re beautiful.† â€Å"You’re slow and blind.† â€Å"Don’t be sarcastic.† â€Å"But I’m so good at it.† â€Å"You are. That’s true.† He kissed me on the head again. â€Å"Don’t tell me you aren’t beautiful. I know that you are.† I shifted, squirmed. Talk like this made me more uncomfortable than facing a drunk with a broken bottle. I knew what to do about that. But compliments? I wanted to run, hide, never come back. Because if I believed them, I’d only be hurt more when I discovered he’d lied. But why would he lie? I couldn’t quite figure that out. Yet. As if he knew what I was thinking, Cadotte tugged me closer. â€Å"You’re special to me, Jessie. Don’t run away before we figure out what that means, okay?† â€Å"Okay,† I said, before I could stop myself. â€Å"So when did my werewolf delusion become yours, too?† I hesitated. Should I tell him, or shouldn’t I? I wanted to tell someone and why not Cadotte? I knew he wouldn’t laugh at me. Much. I told him everything. I couldn’t shut up. About Man-denauer and his secret society. About the wolves I’d seen. Tina. The cave. The man-wolf shape on the wall. He listened. Not once did he interrupt. At certain points in the story, I’d hear his heart speed up – but then so did mine. Other times he’d tense, then relax. When I was done, silence fell over the room. It went on too long and I lifted my head, turned to look into his face. I stiffened, half-expecting him, despite his belief in all things woo-woo, to be staring at me as if I’d lost my mind. Hearing the story out loud had made me wonder again myself. But his expression was thoughtful, considering. He peered across the room. â€Å"What?† I asked. He jumped, glanced down at me, smiled, but the smile was distracted – not the smile I was beginning to adore. â€Å"Quite a story,† he murmured. â€Å"What do you think?† â€Å"I think the government always knows a helluva lot more than they’re letting on.† â€Å"Gee, what a surprise.† He laughed. â€Å"That’s my girl. I’ll have you seeing conspiracies around every corner soon enough.† â€Å"I already do,† I muttered. â€Å"Mmm.† He’d gone off again, thinking. I’d never dated a brain-iac professor before. I suspected he went off like that a lot. â€Å"Do you know Tina?† I asked. â€Å"Tina?† â€Å"The missing girl?† â€Å"I’m sure I do. But I can’t place her right now.† â€Å"Neither can anyone else.† â€Å"I thought she was ashes to ashes.† â€Å"Maybe. Don’t you think it’s weird that she was in your class?† â€Å"Not really. We’ve established that someone is trying to raise a wolf god. That’s an Ojibwe ceremony. If this Tina was one of them, it made sense for her to be in my class.† â€Å"Why?† â€Å"Maybe she was trying to discover something obscure that would help her leader.† I frowned. â€Å"Did you ever get that book you ordered?† â€Å"Huh? Ah, no. Not yet.† He went back to staring. I cuddled closer and the beat of his heart beneath my cheek, along with the sure, steady stir of his breath against my hair, relaxed me. Combined with very little sleep and a whole lot of stress, I was out in thirty seconds. I awoke to the sun slanting through the windows at an angle that signified early evening. Cadotte was still asleep beside me. I had to go to work, but I needed my clothes. Slipping out of bed, I watched his face. He really was too pretty for me. Strangely, I was starting to like it. He never moved, even when I kissed him on the brow. I tiptoed into the living room, stopped to get a drink of water in the kitchen – and found it. At first I thought he’d left notes scattered across the counter. I was even smiling at his absentmindedness as I drank from a Flintstone jelly glass. Then my own handwriting caught my eye. The words registered in my brain a second later. I nearly dropped the glass, which would have been a shame – the thing was damn near an antique. I snatched the papers. One was the receipt I’d had Cadotte sign for the totem; the other was the crumpled, torn page of the evidence log. And beneath them both was the bag of fiberglass and plastic that I’d swept off the pavement after Karen Larson’s accident. What was the missing evidence doing in Cadotte’s kitchen? I had no idea. But before I beat it out of him, I was going to find out what else he was hiding around here that I wanted to know about. I didn’t have far to go. Spread across his coffee table were books and notes. All of them related to Miniwa’s little problem. He’d been very helpful, highlighting the pertinent passages. One book in particular – Legends of the Ojibwe – was fascinating. Was this the book he’d been waiting for? The one he’d told me hadn’t arrived? From the amount and nature of information highlighted I suspected this was the case. I swallowed the thickness at the back of my throat that tasted too much like tears. I did not cry over men. Hell, I didn’t cry over anything. I glanced at the bright and shiny yellow highlighting, which swam before my eyes. I closed them tight, gritted my teeth, and when I looked again the words were all too clear. The ceremony must take place beneath a blue moon. Which, by my calculations, was tomorrow night. I felt as if time were rushing past, pulling all of us inexorably toward that second full moon. I forced my attention back to the book. The way must be paved by a werewolf army. â€Å"Yada, yada, yada,† I murmured. â€Å"Been there, know that.† I turned the page. A jagged edge was all that was left. Will, or someone else, had torn out the rest of the information. That couldn’t be good. I found nothing more of interest in the book, so I went through Cadotte’s papers again. I didn’t find the missing page, but I did discover one tidbit. A wolf totem with the markings of the Matchi-auwishuk was needed to complete the ceremony. Sadly, his notes didn’t say how. I put everything back where I’d found it; then I snuck out of Cadotte’s house and went searching for Manden-auer. How to cite Night Creature: Blue Moon Chapter 31, Essay examples

Financial Reporting Local Authorities

Question: Describe about the Financial Reporting for Local Authorities. Answer: Introduction In global scenario it is important to make some common standards for financial accounting and to measure the performance of the entities. So, IASB has issued the IFRS to report the financial transactions in proper so that proper accounting can be presented in the financial statements. IFRS sets the guidelines for the conceptual framework to be followed all the entities. Firstly it is applicable on multinational companies but now it is applicable on all entities including local authorities. In this report various issues will be discussed on the matter related to implication of IFRS on local authorities. Apart of it various other issues will be discussed related to fair value accounting and presentation of financial statements. 1: Contemporary Issues of Accounting Theory Essay Overview of Current Discussion Fair Value Measurement The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have undertaken a joint project for fair value measurement. The project provided the guidelines for stating the disclosure requirements as per the International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP). Fair value is regarded as the price received for selling an asset or paid for transferring a liability in an orderly transaction between the market participants. The main aim of the project is to attain convergence regarding the fair value measures. The new disclosure requirements are meant for providing guidance to the businesses on the use of fair value accounting at the time of developing their financial statements as per the IFRSs standards or USGAAP (Fair Value Issues among Auditors, 2016). The current issues regarding the fair value measurement is to improve consistency and uniformity in measuring fair value across IFRSs. The convergence between IASB and FASB is done to overcome the uncertainty across the financial reporting standards for assessing fair value of an asset. This will help in overcoming the challenges that auditors face at the time of measuring an asset fair value. Balance sheets of businesses nowadays commonly include valuation estimates that are very difficult to be comprehended by the accountants, auditors and investors. This project will bring consistency in fair value measurement through establishing new accounting standards in relation with derivatives, consolidations, revenue realisation and other issues. This project will increase the use of fair value measurements across the different countries leading to significantly rise in the need of professionals for fair value issues (Fair Value MeasurementJoint Project of the IASB and FASB, 2016). Financial statement presentation The IASB and FASB have also undertaken a project for guiding the organisations for presenting the information in the financial statements. The current issue regarding the presentation of financial information is to reduce complexity regarding the communication of financial information to the stakeholders. The main goal is to improve the usefulness of information presented by the business entities in presentation of financial information. This will help the investors and financial analysts in decision-making process regarding their investment in the company as capital providers (FASB, 2016). The project of IASB and FASB aims to present financial information in the statements in a manner so that it is able to give an estimate regarding the future cash flows of the business firms. In addition to this, the information presented in the financial statements should provide a complete overview regarding the financial stability of a business entity. These two principles are regarded as disagg regation and cohesiveness principles that aim at making the information presented in the financial statements easily understandable. The FASB and IASB have undertaken a project known as Financial Statements Presentation (FSP) project for improving the communication of financial information to all the businesses stakeholders. The project is meant to provide guidance to the business entities regarding the information to be presented to the stakeholders. This will directly affect the management of businesses by properly disclosing all the material facts and information to the internal as well as external stakeholders (FASB, 2016). Rationale for current discussion According to the views of Leonard (2010), the current discussion regarding fair value measurement relates to implementing the fundamental changes in the manner through which fair value is applied across IFRSs. The concept of fair value was previously taken to be current market value as per the IASB definition. However, the concept pose large problems to the auditors in realizing the fair value of an asset as it provides a measure of only entry value of an asset and ignores its exit value. The recent changes proposed by the IASB and FASB in regards to fair value measurement emphasizes on the incorporation of exit value of assets. Exit value of an asset indicates the future cash flows and thus fairly represents the capacity of an asset to provide present and future cash flows. The current issues relating to the use of fair value accounting is mainly in response to the credit crunch that has criticized the application of the concept of fair value across business organizations. The criti cisms include misleading of reported losses by the business entities during the period of global financial crisis through the use of fair value measurement concept. The fair values of assets are generally believed to be unreliable and thus often pose a financial risk for the overall financial system. Thus, in order to overcome from all these potential issues regarding the use of fair value accounting the IASB and FASB are undertaking the project for reducing the uncertainty in fair value accounting system. The changes proposed for the integration of exit value in fair value measurement concept will provide complete information about the future cash flows and current risk-adjusted discount rates (Leonard, 2010). As per the views of Epstein, et al (2009) the corporate scandals of Lehman Brothers and other financial institutions at the time of global financial crisis have lead to the emergence of debate regarding the increase in reliability of financial statements. In this context, the present project being undertaken by the IASB and FASB mainly aims to increase the reliability of financial information statements analysis. The aim is to increase the disclosure requirements for reducing the financial risks of the business corporations. This is done to prevent the fraudulent practices used by the business for overstating or understanding the information in their financial statements. The large financial institutions such as Lehman Brothers were reported bankrupt thus causing large losses to the investors. The main cause of the reporting of sudden bankruptcy of the company was use of deceptive accounting practices for presenting false financial information to the external stakeholders. As such, t he IASB and FASB are seeking to expand the disclosure requirements in the financial statements to prevent the occurrence of fraudulent accounting information in the financial statements. The implementation of standard accounting practices across all the countries reporting standards is extremely necessary for overcoming the issues of increasing corporate scandals at a global level due to publishing of false accounting information (Epstein et al., 2009). 2: Case Study Implication of IFRS for Local Authorities Richard Murphy in its famous article IFRS for local authorities: stop this madness now has put the bigger issue at stake for all professionals in field of accounting to think over the concern that implication of IFRS on local authorities is right or wrong. The concern raised by the Richard Murphy is that whether imposing the IFRS on local authorities is the right decision or it is creating a potential weakness at some point (Deloitte, 2013). First of all, it is true that on the part of Mr. Murphy and statement written by him is completely right. Lets discuss what Mr. Murphy has tried to say. According to him international accounting financial standard applies to all the major transactions occur at local authorities but it ignores certain major items such as public funds entrusted and supply of services. Both of these items are the most important management activities of local authorities that must be recorded but as per IFRS they are not required to be measured and recoded in the financial reports. I agree with the statement of Mr. Murphy due to fact that local authorities are small entities and they have rarely any public involvement so it is not required to impose the IFRS implications on such entities. The main aim of IFRS is to present the financial reports to the investors so that they can take investment decision on buy or sell o f the shares. Local authorities have no listing of stock exchange and investors are not generally interested in buying the shares of local authorities. So imposing the application of IFRS on the local authorities makes it difficult for them to maintain the accounts as per international standards (Moore Stephens. IFRS, 2009). Even if IASB has decided to impose the IFRS on the local authorities, than proper care should be taken while making changes in standards so that it is easily applicable to local entities. It has been noted that no changes have been made while application of IFRS has been made mandatory on the local authorities. This has violated the core management activities that local authorities carried out because IFRS lack such standards to measure the core activities in local authorities such as accounting for stewardship of public funds entrusted and supply of services. So it is true in voice of Mr. Murphy that implication of IFRS means potential disaster in our hands. It is true that Australian GAAP supports the accrual accounting and it measures the transactions that happened in prior period items. Financial statements are for stewardship that provides value for money and action over the period of time. On the other hand IFRS is used for measuring the value at given point of time. They are meant for providing an insight view of performance of entities to report to the investors so that they can make their decision on investment in the company. So it can be said that there is no requirement of imposing the application of IFRS on the local authorities. The main reason of imposing the IFRS on the local authorities is to provide benefits to the Big 4 accounting firms (World GAAP Info, 2008). IASB and Big 4 relationship It has been seen so far that there was numerous changes in the accounting standards and manner of financial reporting. IFRS has been introduced by the IASB to change the conceptual framework and various accounting standards have been added to the financial reporting. All these changes have put the burden on the entities to compile with requirements of financial reporting. It is not easy to maintain all the accounts as required in the new financial reporting requirements. All the multinational companies find it difficult to report all the requirement s of financial reporting, so they seek help from the Big 4 accounting firms to handle all the requirements of recording the transactions as well as preparation of financial report (KPMG, 2003). It has been noted that Big 4 accounting firms and IASB both take active participation is making changes in the IFRS as certain changes made in IFRS goes with the major requirements of Big 4 from the IASB. So it can be said that IASB work mainly for Big 4 point view and ignores the actual requirements of the companies who are facing tremendous problems in preparation of annual reports as per the requirement of IFRS. There has numerous reports from various authors that have reported that IASB does not work in public interest and they are giving the advantages to Big 4 accounting firms through introducing the various complications in the financial reporting that would have not required by the public to check the financial performance of company. Authorities/countries that tend to believe that IASB works in public interest through intruding the common accounting framework for all will now paying high fees to the Big 4 accounting firms to complete the procedure of financial reporting or to seek any type of financial help from them (Ernst Young, 2012). There has been recent example to understand the game play by Big 4 accounting firms and IASB. After the financial crisis in year 2008 and 2009, there is requirement by Big 4 accounting firms to make application of IFRS on the local authorities and in year 2010 it has been made compulsory by the IASB to make compliance with the requirements of IFRS for local authorities. It has to noted that there was no such mandatory requirements have to posed on local authorities as there was least public involvement in such entities. It was only done to increase the business area for Big 4 accounting firms. Implementation of IFRS in local authorities of Australia Before making any comment on whether it is advantageous to make implementation of IFRS for local authorities in Australia or not, let discuss some of important pro and cons of implementing IFRS in local authorities. Firstly it is not bad to say that IFRS promises more accurate, timely and proper financial statements that are easy to understand and make analysis on them. It is also true that every entity has its own stakeholders that require information to make the analysis on the performance of entity (IFRS, 2013). On talking about the local authorities it is true that they very less interaction with the public funds and people generally not invested in local authorities. So the point is that for the sake of more understandable financial reporting is it compulsory to make the adoption of IFRS on local authorities. The main advantage of using the IFRS is to satisfy the needs of investors through making the financial reporting common and easy to understand like in same as the professio nal do. Apart of this IFRS helps in standardization of accounting and financial reporting that can be a possible reason for imposing the IFRS on local authorities but it should be understand that IFRS only make the changes in accounting that can be easy to understand at international level but local authorities have no interaction with the public that have interest in the company (KPMG, 2013). Now the major disadvantages of IFRS can be related with cost that the entities have to bear while preparation of financial report and other documents to be deposited with government body. It the light of this disadvantage it must be noted that local authorities find it difficult to bear all the cost that have to paid to the accounting firms performing he work of financial reporting as they earn in limited profits with greater responsibility of families and other familiar works (Ernst Young, 2011). So looking at the consequences and limited advantages of IFRS it is not wise to make mandatory the application of same on the local authorities out there in Australia. It is because these entities serve only a small geographical area and has limited interaction with public. Also the cost related with accounting is so high that it cannot be afforded by such entities. Conclusion IFRS helps in making the accounting and financial reporting easy but they add extra burden on the local authorities and also it ignores major accounting transaction occurred at local authorities. So it can be said that it is not wise to made applicable of IFRS on the local authorities of Australia. References Deloitte. 2013. IFRS 1 First-time Adoption of International Financial Reporting Standards. [Online]. Available at: https://www.iasplus.com/en/standards/ifrs1 [Accessed on: 29 April 2013]. Epstein, B.J. et al. 2009. Wiley GAAP 2010: Interpretation and Application of Generally Accepted Accounting Principles. John Wiley Sons. Ernst Young. 2011. UK GAAP vs. IFRS. [Online]. Available at: https://www.ey.com/Publication/vwLUAssets/UK_GAAP_v_IFRS_-_The_basics_-_Spring_2011/$FILE/EY_UK_GAAP_vs_IFRS_-_The%20basics_-_Spring_2011%20.pdf [Accessed on: 14 October 2016]. Ernst Young. 2012. International GAAP 2012 - Generally Accepted Accounting Practice Under International Financial Reporting Standards. John Wiley Sons Fair Value Issues Among Auditors. 2016. [Online]. Available at: https://mercercapital.com/article/fair-value-issues-among-auditors/ [Accessed on: 14 October 2016]. Fair Value MeasurementJoint Project Of The IASB and FASB. 2016. [Online]. Available at: https://www.fasb.org/cs/ContentServer?pagename=FASB/FASBContent_C/ProjectUpdatePagecid=1176156576143 [Accessed on: 14 October 2016]. FASB. 2016. [Online]. Available at: https://www.fasb.org/project/financial_statement_presentation.shtml [Accessed on: 14 October 2016]. IFRS. 2013. About us. [Online]. 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