W3 DQ1 Truman and the AngelsIntroduction to PhilosophyTruman.docx

W3 DQ1 "Truman and the Angels"
Introduction to Philosophy
Truman and the Angels
We saw last week that Aristotle’s definition of eudaimonia
(which we usually translate as “happiness”) is actually a
rational activity connected with living virtuous lives and doing
everything we do with excellence; but, our happiness can only
be truly assessed at the end of our lives, if we can look back and
honestly say we did the best we could, lived virtuously, made
rational choices, and can say we have no regrets. In most cases,
when we have regrets, it is about how we treated other people.
On the other hand, John Stuart Mill defines happiness in the
more traditional sense (we choose something that benefits
people and makes them feel good or better in some way); but,
for Mill, it is no longer about our own happiness, since we have
to think equally about everyone who might be affected by our
choices, and our happiness is no more important than the
happiness of anyone else who might be affected by our
decisions.
Here is the scenario:
When President Truman took over after FDR's death, he wanted
to end WW2 as quickly as possible and stop the hundreds of
thousands of future deaths that would be incurred on both sides
if the war continued. One possible way to quickly stop the
fighting was to drop atomic bombs on two Japanese cities,
killing thousands of unarmed citizens. Granted, the families of
those killed by the bombs would not be happy, but the happiness
of the families (and soldiers) of those serving on both sides of
the conflict would far exceed the pain caused if the war could
be over in a matter of days after dropping the bomb. History
shows that Truman was correct in his very clear Utilitarian
reasoning, because the Japanese did in fact surrender only a few
days after the second bomb was dropped. But, Truman always
regretted his decision and even died regretting the fact that he

had given the order to kill so many non-combatant Japanese
people. He was not interested as much in the results (as a good
Utilitarian would be) as the fact that what he did was a far cry
from what he thought a truly virtuous person would choose to
do in the same situation. In his mind, he opted for expediency
instead of virtue.
So, imagine that you are an advocating angel in Truman’s trial
for eternity.
• Pick one (1) of the three possible positions below and present
your case with good evidence.
(1) As a Utilitarian angel and on the defense team, provide the
justification for why Truman should be admitted to heaven,
even though he feels guilty. Or,
(2) as an Aristotelian angel, same thing; history says he did the
right thing, even though he had personal regrets; so, you have to
prove that what he did was rational, virtuous, and exhibited
excellence, despite his own misgivings. Not only are you going
to have to convince the jury of your peers (classmates), but you
will need to convince Truman himself. Or,
(3) as an Aristotelian angel for the prosecution, convince the
jury that Truman’s violation of his understanding of virtue,
rationality, and living excellently means that he should be
condemned to hell—regardless of the positive consequences of
his decision. After all, the road to hell is paved with good
intentions! Be sure to use the tenets of which ever ethical theory
you are defending in order to present your “case.”
ACC 680
Robert Shulzinsky
Southern New Hampshire University

Global BusinessAccounting is a basis that is used to evaluate
the profitability and lose making of a company. It is also a tool
that is used for the purpose of taxing. It is from the basis of
taxation that the accounting process may not be the same.It is
from the fact that various countries do exists as sovereigns and
they are able to come up with their tax law, hence the
accounting principles and cycles may change or rather may be
formulated so as to fit within the laws of the specific country.In
this era of Globalization where there are various business
setting up various chains around the world, there have played
some sought of influence in ensuring that the accounting
regulations and process in a specific country are
harmonized.There are various environmental issues that play a
crucial on accounting practices. Some of this include:
Globalization has been an ever growing factor and therefore
there are serious issues that govern the accounting systems of a
particular country. The factors are based on culture of a
particular society.
*
Cont’dTax lawPolitical systemhistoryValues it is from this
factors above that bring about the issue about diversity in the
accounting practices this is because not all countries are
industrialized the same. The various tax laws play a crucial role
in the creation of diversity within the accounting practices. This
is because the accounting practices are set so as to be conform
with the tax law. This is to make it easier for the tax man to
look at the accounting books and be able to establish if the
business has been able to file their taxes effectively.Every
country therefore sets an accounting practice that is within a

specific formula that it will be easy to interpret and understand.
For the purpose of this assignment we shall focus on Tanzania.
The environmental issues that may have an impact on the
diversity will be tax law. This is set by the state since it is
where it generates money that it will use to run its affairs. The
law will therefore be set so as to enable the state to collect
sufficient revenues. The political system plays a crucial role
since it is what dictates how the polices of country are going to
be formulated. The economic history of a country will
determine the method of accounting that is going to be used.
For instances countries that were colonized by the Britain's will
tend to use the same concept being used in Britain
*
Cont’dThe culture of Tanzania has created an impact on the
financial accounting standards. This is because the economy is
an emerging economy in East Africa. The culture of the country
has affected the accounting system this is because the members
of the society consider one another as brothers.This therefore
bring about difficulty in the accounting practice this I because
the country believes in the Ujama system which is socialism in
English. This has influenced the accounting practice because it
may turn out to be difficult to distinguish properties of a
individual because no person can claim ownership to other
assets since it is believed that it belongs to the society. This
has, therefore, affected the accounting standards of the country.
This is because they are not standard and that they are subject
to change easily.This is based on the principle of Hofstede’s
dimension of culture, which sates that the culture of a society:
this involves values, behaviors and how the society is structured
is dependent on the society. This therefore implies that the
culture of a society has the ability to shape and determine the

values of the society.This will therefore have an impact on the
existing factors such as the financial accounting standards.
This principles explains better about Tanzania.
Hofstede's major research was traditionally meant to be used in
cross-cultural psychology it has however been drawn upon by
researchers and consultants in many fields such as international
business and communication. The theory has been applied in
several fields as a model for research, mainly in cross-cultural
psychology, cross-cultural communication and international
management.
*
Potential issues on businessTanzania is a socialist country and
therefore it has strict laws that regulate the business arena some
of the potential issues are:The tax laws are very strict on
foreign companies, this is considered as a measure of protecting
local companies. This has proven to be an issue because most
companies may end up not being able to be sustained in the
market easily.Since the company is based on socialism values
the competition laws tend to be strict and, therefore, the
business may not be able to compete effectively since the
government will be regulating the affairs of the company. The
values of socialism has contributed to a lazy society.The nature
of the people of Tanzania has a potential problem to any
business, this is because they believe a business is not supposed
to make profit at the detriment of a citizen. This therefore may
act as a barrier for the company to expand because certain
people may not want this, this is due to their historical belief
that the society should benefit from a particular business rather
than the owner.

Accounting Standards (Difference between IFRS and
GAAP)Inventory costs
IFRS does not allow the accounting method of inventory where
the last in, first out method is used, whereas the GAAP can
either use the First in, first out or even the Last In, first out
method, this is done so as to carry out an estimation of the
inventory.Intangibles
Intangible assets that have been acquired through GAAP are
recognized through a fair value, whereas, the IFRS only
recognizes assets that have future economic value and has a
measured reliability.Write downs
the provisions of writing down an inventory under the GAAP,
I that if an inventory has been written down, then under no
circumstance can it be reversed while the IFRS provides that an
inventory which had been written down can be reversed I future,
this will only occur when laid down criteria have been
achieved.
The IFRS is considered to be principle based accounting
standard whereas on the other hand GAAP is considered to be
rule-based
IFRS is able to effectively represent the economic factors of a
transaction compared to GAAP.
*
Cont’dThe most appropriate mode of reporting system that the
company will adopt will be the IFRS. This is because the
company is going to be international and therefore it will
require a principle based mode of reporting. IFRS will be
beneficial to the company because when conducting an
assessment of the accounting treatment it will be more focused
on facts pattern which is done thoroughly. This will therefore

ensure that the company is able to have a comprehensive
reporting system that is In touch with reality rather than
assumptions.Since the company has an international operating
base, it will be important for it to use the IFRS so that it can
have an international understanding with other businesses. IFRS
will be an important tool or rather type of reporting system that
will be important to the business, this is because it makes
assumptions that are necessary for any business some of this
assumptions include going concern and accrual concept.
On definition of an asset the IFRS looks at it as a resource from
which economic benefit will arise from in future to the
company. This therefore odes not under look the value of an
asset but rather it future benefit that will be realized by the
company. This therefore, makes this framework important since
it sees the business as a tool of generating income through the
existing assets that the business possesses.
With regards to disclosure, the GAAP provides that companies
should disclose the information that pertains to their accounting
choices and expenses in footnotes. Whereas under IFRS it is
not clear on how the disclosure should be made.
*
Disclosure this is the process or the act of releasing important
information that are related to a company, this is done with an
aim of influencing the mind of the investor. Since this is a
requirement for every company to be able to release both bad
and good information to the public. with regards to the best
form of disclosure that the company will be using is the use of
footnotes. This will helps everyone to see all the information
that is important to public and investors so that they can be able
to make a decision out of it.Since the company will be listed in
various stock exchange, it will be important to have all the

information that is relevant to the investors so that they can use
it to either invest in the company or not
Disclosure is also important because it will also the company to
assess itself. It will also provide an assessment to be used by
finical intuitions when the company is looking for finances to
expand its businesses.
*
Cont’dThe security exchange commission realized that there
was need to combine the GAAP and IFRs this was due to the
continued economical meltdown that was witnessed in the
united states. the need of converging this two financial
reporting system has therefore brought about challenges when it
comes to diversity of the field of accounting in the
world.Impact on Investors- there will be a reduced cost for a
company which is entering a foreign market. This is because the
companies will be operating under the same rules and therefore
the markets will be able to compete globally.Impact on
accounting standards- the process that will be involved will
rather be long and complicated .Impact on professionals the
convergence will bring about change to the existing standards
and this will force the professionals to learn the international
required standards, since consistency is key they will have to
ensure that they have all the necessary keys that will enable
them to improve their accuracy.The role IASB is to issue permit
that allows the use of IFRS, it was formed by strong economies
and therefore it has mandate over its members. It was
reorganized in 2003 where it acquired the new name and thus it
has been operating independently since then.This will impact
my company in the sense that it will be compete effectively
since there is a standard financial reporting system. Therefore
the market will be operating effectively in the society.

the standards convergence of the U.S. GAAP together with the
IFRS largely affects corporate management, investors, stock
markets, accounting professionals and accounting standards
setters. This therefore has the impact of affecting the
international standards of accounting. It will be hard to
formulate a reporting methodology that will able to work
effectively for the convergence this sis because one I based on
rules whereas the other one is based on principles.
*
Global MarketThe potential issue that will arise when making
financial statements in Tanzania will e the variation of the
accounting polices. This is because the business has the
leverage in accounting of how it will treat certain items like
foreign exchange transactions, valuation of stock etc.Another
issue will be the interpretation of the results, the industry
average is commonly used in financial ratios, it may however be
hard to make judgement if such ratio s bad or good.The
company would rather use financial statement analysis that will
be easy to understand. The factors in deciding how the company
will be treating certain items will be based on the general
practice. This will be done with a purpose of coming up with
comparative standard form which the document can be
compared with other companies financial statement.
International financial statement Analysis will provide a more
updated detail, which will be very crucial in the assessment of
a company’s performance and its position financially. This will
be regardless of the of the country in which the company is
based. It therefore provides international investors with insight
of the financial position f a company and acts as guide which

can be used by investors.
*
International Business Practice:The heightened currency
unpredictability, and the changes in the exchange rates will
have an impact on the companies operations and the level of
profits. This is determined with the exchange rates. This mostly
affects multinationals and the company being international it is
likely to be affected with the exchange rates.The company is
likely to face the following types of risk that can be associated
with currency unpredictability. Transaction exposure- this
occurs when the exchange rate changes and the company needs
to make or receive payments in foreign currency.Translation
exposure- this will occur when to a company that has a
consolidated financial statement. It is therefore mostly
associated with a company that has foreign
subsidiaries.Economic exposure-this fluctuation of currency s
concerned with the flow of the currency of a company in future.
The exchange rate can therefore affect the competiveness of a
company.
It is therefore important to note that the economic exposure
focuses on changes in exchange rates which are unpredictable
and therefore it may be impossible to predict. This is because
the company makes its budget on certain exchange rates
assumptions, this therefore represents the expected exchange
rate that the company will be working with
*
Recommendation of the risksOperational strategies1. Sourcing
flexibility- the company should have an alternative source of

factors of production, this will help when the exchange rate
makes the factors of production from one region.2.
Diversification of finance- the company should be able t have
access to several nation’s capital markets. This will give the
company flexibility in raising capital in markets that have the
cheapest costs.Currency risk-sharing agreement- this is an
agreement that is entered between the parties from which they
agree to share the fluctuations of the currency.
It is therefore important for the business owners to carry out an
economic awareness this will help them to mitigate the risks
associated with economic exposure
*
Referencehttp://www.fasb.org/jsp/FASB/Page/SectionPage
&cid=1176156304264Floyd N. The case for global accounting
(2012) The New York TimesSmith G Handbook of cross-
cultural management, New York Thousands oaks.P Elvis
exchange rate risk: Economic exposure, (2010) Harvard
Business JournalM young cultural influence in accounting
(2013) California state university
ACC 680 Milestone Two Guidelines and Rubric
In Module Five, you will prepare a draft of the presentation that
covers the topic of accounting standards. Your work should
review the different reporting
requirements for GAAP and IFRS. From there, you’ll make a

decision about which reporting standard is best for your
company as well as which disclosure
standards would be most appropriate. You will assess the
convergence of GAAP and IFRS, including an explanation of
the harmonization role provided by IASB.
Finally, you will provide an analysis on how IASB impacts your
company.
For this project, consider this scenario: you have worked very
hard and have just earned a promotion at Quality CPA firm. As
part of your new responsibilities,
you will be advising an influential client on their international
aspirations. Their business has been booming and they are
seriously considering expanding their
operation overseas. They are concerned about the political and
financial risks of such an undertaking.
You will build a multimedia presentation (utilizing audio, if
possible, with speaker notes to elaborate) that addresses the
upper management of this company. You
will choose a country other than the United States. This country
will be presented as a potential destination for the company,
although other countries can be
included, as the global market is the focus. The presentation
must explore the company’s potential expansion into the chosen
country, the global market in
general, and how that will impact their operations.
Specifically, the following critical elements must be addressed:
I. Accounting Standards: For this part of the assessment,
explain to your audience the differences between Generally
Accepted Accounting Principles
(GAAP) and International Financial Reporting Standards (IFRS)
and the implications in converging with IFRS.

A. Differentiate between the reporting requirements for GAAP
and IFRS.
B. Given these differences, determine which reporting
standard(s) would be most appropriate for your company, given
their desire to expand
globally and why they would be appropriate.
C. Distinguish the disclosure requirements for GAAP and IFRS.
D. Given these differences, determine which disclosure
standard(s) would be most appropriate for your company given
their desire to expand
globally, and explain why they would be appropriate.
E. Assess the impact that the convergence of GAAP and IFRS
will have on investors of companies in the United States and in
the global market.
F. Assess the impact that the convergence of GAAP and IFRS
will have on firms similar to your company. In other words,
how will its effect on
investors and the global market affect the company?
G. Explain the role of International Accounting Standards Board
(IASB) in harmonization. How is the board created? In other
words, how does this
support convergence?
1. What are your thoughts on how this may or may not impact
your company?
Rubric

Guidelines for Submission: Your multimedia presentation
should include 10—15 slides, which must be accompanied by
speaker notes and may contain audio if
you wish.
Instructor Feedback: This activity uses an integrated rubric in
Blackboard. Students can view instructor feedback in the Grade
Center. For more information,
review these instructions.
Critical Elements Exemplary (100%) Proficient (90%) Needs
Improvement (70%) Not Evident (0%) Value
Accounting Standards:
Reporting
Meets “Proficient” criteria and
demonstrates a nuanced
understanding of the differences
between reporting
requirements in GAAP and IFRS
Distinguishes between the
reporting requirements for
GAAP and IFRS
reporting requirements for
GAAP and IFRS but
differentiation is inaccurate or
lacks detail
Does not distinguish between
the reporting requirements for
GAAP and IFRS

13.5
Reporting Standard(s)
provides keen insight into which
standards would be most
appropriate for the company in
the given scenario
Determines which reporting
the given scenario
Determines which reporting
the given scenario but
determination lacks depth or
detail
Does not determine which
reporting standards would be
most appropriate for the
company in the given scenario
13.5
Disclosure

demonstrates a nuanced
understanding of the differences
between disclosure
requirements in GAAP and IFRS
disclosure requirements for
GAAP and IFRS
disclosure requirements for
GAAP and IFRS but
differentiation is inaccurate or
lacks detail
Does not distinguish between
the disclosure requirements for
GAAP and IFRS
13.5
Disclosure Standard(s)
provides keen insight in which
the given scenario
Determines which disclosure
the given scenario

Determines which disclosure
the given scenario but
determination lacks depth or
detail
Does not determine which
disclosure standards would be
most appropriate for the
company in the given scenario
13.5
Investors
provides keen insight into
impact of convergence of GAAP
and IFRS on investors in the
United States and in the global
market
Assesses the impact that
convergence of GAAP and IFRS
will have on investors in the
market

market but assessment is
cursory
Does not assess the impact that
market
13.5
https://snhu-
media.snhu.edu/files/production_documentation/formatting/rubr
ic_feedback_instructions_student.pdf
Firms
makes connections between
how the impact of convergence
on investors and the global
market will also inform the
impact of convergence on firms
similar to the company in the
scenario
will have on firms similar to the
company in the scenario

company in the scenario but
assessment is cursory
Does not assess the impact that
company in the scenario
13.5
Harmonization
offers opinions on how IASB and
harmonization may or may not
impact the company in the
scenario
Explains the role of IASB in
harmonization
Explains the role of IASB in
harmonization but explanation
lacks depth or detail
Does not explain the role of
IASB in harmonization
13.5
Articulation of
Response

Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented in
a professional and easy-to-read
format
Submission has no major errors
spelling, syntax, or organization
Submission has major errors
that negatively impact
readability and articulation of
main ideas
Submission has critical errors
that prevent understanding of
ideas
5.5
Total 100%

W3 DQ1 Truman and the AngelsIntroduction to PhilosophyTruman.docx

W3 DQ1 Truman and the AngelsIntroduction to PhilosophyTruman.docx

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